The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
finanrial
flntmerria
INCLUDING
Bank and Quotation Section
and City Section (semi- Annually)
Street Railway Section {^T^Jif^')
State
(Monthly)
Railway and Industrial Section (Quarterly)
Entered aocordins to Act ot Congress,
A
VOL.
year 1904,
in the
weekly newspaper entered at Post
Office.
New
bj- William B. Daka Company, in the office of Ubrarian of Coaffress. Washington, D. U.
York, as gecond-class matter- William B. Dana Compaxy. Publishers. 70)4 Pine St.. N. Y.
SATURDAY, MARCH
78.
26,
NO.
1904.
Mnrch
iVeek eiKhiw
—
Clearings at
1904.
PUBLISHED WEEKLY.
—
Terms ot Subscription Payable in
For One Year
For Six Months
European Subscription (including postage)
Kuropean Subscription Six Months (including postage)
Advance
$10 00
6 00
". 13
oo
7 50
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)
£2
£1
14s.
lis.
Subscription includes following Sections—
State and City (semiannually)
BANK AND Quotation (montiay)
Eailway and INDUSTKLA.L (quarterly) stkeet Kail way (3 times yearly)
New HavenSprintrfleld
Worcester
Portland
Fall River
Lowell
New Bedford
Holyoke
I
Total
|
Terms
Advertising— Per
ot
Space
Incli
{Two
Months
Three Months
Six Months
Twelve Months
$4 20
22 00
29 00
60 00
87 00
(8 times)
(13 tunes)
(26 times)
(52 times)
DANA COMPANY,
Fine Street, Corner
Post
Milwaukee
Indianapolis.
Columbus
Grand Rapids
Dayton
Evansville
Spriuglleld.
ot I'earl 8ti'eet,
NEW YORK.
CLEARING ROUSE RETURNS.
Bloomington
Quincy
Los Angeles
Clearings— Returns by 'lelegraph.
Week Endino March
1904.
2B.
New York
1903.
feiJ52,431,486
Boston
95,933,861
Philadelphia
86,.52e,337
Baltimore
Chicago
St. Louis
New Orleans
17,000,657
131,395.329
Seven
Other
cities, 6
cities,
Total
45,000.000
days.
5 days
all cities, 5
days.
All cities, 1 day
Total
all cities
for week.
$995,565,782
95,386,017
91,851,991
16,411.154
136,886.983
37.839.309
P. Cent
-4-3
+0-5
-5-8
-J-3-6
—4-0
+18-9
+65-5
17.319,745
10.-465,725
^1,345,607,415
267,941,018
5)1,384.406,961
260,598.417
-2-8
+2-8
$1,613,548,433
338,407.241
$1,645,005 378
340,221.406
—1-9
—0-5
61,951,955,674
$1,985,226,781
-1-7
Seattle
Salt Lake City
Tacoma
Helena
Fargo
Sioux Falls
Total Pacific
Kansas City
Minneapolis
Omalia
St. Paul
St. Joseph
Denver
Des Moines
Sioux City
Wichita
week covered by the above will be Colorado
Springs
given next Saturday. We cannot furnish them to-day, clear- Fremont
Cedar Rapids
ings being made up by the clearing houses at noon on SaturTotal other West'rn
day, and hence in the above the last day of the week has to
St. Louis
New Orleans
be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the previous
per cent.
Week ending Ma/rch
Clearings at
—
1903.
1904,
New York
Philadelphia
Pittsburgh
Baltimore
Buffalo
Washington
Albany..
Rochester
Scrauton
Syracuse
Wilmington
Wilkes Barre
WheeUng
IBlnghamton
Greensburg
Chester
Erie
Reading
Franklin, Pa
Total Middle....
Inc. or
Dec.
19.
lOOJj.
%
111,169.992 1.318,576,102 —15-7 1.385,677.307 1,740.810.778
—6-3 113,836,775
99,144.1.35
102,352,635
109,194,671
41.771,388
40,486,495
34,079,605
54,997,656 -38-0
23,312.144
-j-8-4
21.195,158
23,485,424
21,605,779
5,334,901
4,983,255
5.559,019 +12-4
6,248,202
2,987,927
—8-4
3,851.468
4,090,884
3,748,139
2,827,777
-j-8-4
2.735.062
3.081,436
8,341.145
1.982,658
2.720,568
2,141,176 +13-4
2,428,315
1,177,873
-)-0-6
1,460,787
1,600,000
1,591,300
924,206
-7-4
1,053,935
1,176,966
1,271,372
808,108
-4-8
1,000,0(15
1,128,472
1,080,365
801,887
890,622 -12-1
782,686
062,708
-2-4
683,192
663,861
047,397
443.200
335.800
+1-?
381 .500
387,800
249,069
-6-8
327,859
400,422
373,026
275,503
835.920
+1-2
399.838
394,903
4-7
439,843
461,005
1.021,462 Mot iuclude d iu to tal.
250,390 Vot inoludf d In to tal.
—
1,293,741,43^
)
,0i!6,4OU.840
—15-3 1,580,991.533 1,928,802,730
4-4-0
-t-12-5
-I-6-3
+4-4
-3-9
+7-4
-13-2
4-0-2
31,148,694
6,630,176
4,080,000
30.662.944
4-1-6
3t;2,165
323,;ii21
.
-33-2
4-170
4-5-7
208.108
162,219
161.273
91.291
231.413.77:
•
85.000
143 208
117.341
55.490
203,502,739
2.054,317
4-1-4
4--26-2
272,0.57
349,356
417,647
263,746
4-3-1
53,525,564
52,898,565
4-2-2
38,451,805
31,355.772
20,007,292
14,783.006
7,690,54
0,124,154
5,061,104
4.106,485
2.441.442
1,241,193
618,976
968,788
1,081,043
568,590
148,899
17,627,960
12,157,380
7,620,586
5,690,12
5.140,459
4,136,176
4-13-5
4-21-6
17 546.721
4.847.734
2,048.856
1,517,185
1,490,758
906,287
578,091
050,000
124,761
14.411.869
8,299.583
5.928,894
4.492,517
3,491,277
4,448,210
1,555,873
1,278,093
1,326,666
816,196
540,825
954,770
121.120
425,.'")69
6,659,69'
—0-4
4.089,291
2,521,157
8.806,853
4-5-9
—02
—2-1
4-16-5
2,073,55'"
-4-80
4-09
-i-7-0
—1
—0
2,;i94,8!i2
4-1-9
1.811 194
1.398,038
798,249
—55-7
825.100
424 328
102.233
11.247,517
7.685.140
4,921.558
4,57:i.351
-53
4-21-4
4-31-0
-^34-0
—8-2
Not Include d
18,962.347
2.930,931
2.146,871
2,208.263
1,692,563
1,021,506
1,226,213
707,032
247,687
212,.300
in to tal.
64.811,525
59.092.067
4-8-6
57.638,559
47,005,892
54,443,938
4:1,184.785
4-26-1
-f66-8
4-3-6
50.025,991
11.708,017
9.791,301
5.800,000
41,655,207
18,354,785
8.020.041
3.004,569
3,948.500
4,295,317
8.087,985
22,.543,216
13,517,961
Hirmlngham
Little Rock.
1.118..503
872,31(
Knoxvllle
978.654
1,052,000
1.152,109
781 000
Chattanooga
850.5.50
-1-1
lieauniout
.Jacksonville
441,000
734,852
420.000
9!50,;i95
:}:13.029
1,236.749
1,172,879
4-18-6
4-5-4
6.063.328
3,334,390
2,604.551
1,678.557
1.4.')9,735
—7-3
—1-2
2,8:t9,000
4-31-4
4,066.115
2.414.774
3.591.070
2.829.175
1.092.644
—8-9
4-980
-I-191
4-5-5
-1-3-1
1,376,4.'J2
— 12-3
— 14-2
1.290,758
1.470,687
4-0-06
854.056
386.107
200.050
103,740.649
02,151,706
4-34-7
711,801
069,000
— 15-1
6-6
4-50
103,675,908
4-24-6
1,916,942.214
2.12,').06S,fl.10
-98
803,772,222
806,401,928
—OJ
.Montreal
,007 nil
Toronto
Winnipeg
000, 001)
28,109,831
10,918,571
185
;t.59s.:)97
4-12-8
514
1,«66.I5S
—20
tv^
1.8211,066
1,904,303
1,897,564
1,314,780
1,818,105
1,173,958
505.93'
99:t.;i30
829„'^.52
PubhcMtlon discontinue d.
376,124 Not Include d Into
2,0:19,040
820,502
613,485
032,428
099,000
462,371
-f27-7
129,214.410
York.
729.994
453.135
492,537
534,019
1,565,925
1,127,720
New
4:i7.674
220,'249
0,071.864
4.073.500
8.866,292
8,015,671
8.141.116
2,H00,824
2,409.445
1.622,530
1,664,687
1,820,020
1,127,040
Outside
865,862
624,700
619,408
654.181
21.027.886
4,101,622
2,797,25
3,253,703
2,749,982
1,510,709
1,300,547
512.617
349,085
249,837
4.52:1.011
2,.S97,077
all
1,;144.5S2
4-9-2
5.628.H(il
Total
101,204,328
142.607.000
17,b31.950
10,983,635
8,984,845
4,966.182
8,149,668
2,964,650
2,262„306
2.276.790
1,245,976
1,091,806
934,972
532,100
590,399
301.862
363,286
508.467
808,223
339.461
272,733
205,449
319,933
—13-0
4,024,000
Columbus, Qa.
Total Southern
145,377.131
0.376.200
2.633,050
1.292.709
1,244.534
1.482,974
1,121,730
619,263
510,366
351.143
255.329
160.096.227
20,556,950
11,718,123
9,198.631
0,510.239
4,354,715
3,340,050
3,500.532
2,368,739
1,484,853
4-17-0
4-1-3
4-25-9
4-13-6
1901.
146.772.533
+10-8
10.695,647
Charleston
Guthrie
505 309
378.087
343,949
-f7-9
-f27-l
Houston
Louisville
130.554.227
6.089.900
2.420.284
1,527,593
1,348.097
1,556,036
1.120,836
928.215
4-13
-17-1
Galveston
Etlchmond
Macon
1901.
—13-3
+4-9
+10-1
-1-6
19.
U)02,
6
+39-1
-5-4
10,:i28.429
week, covering the returns for the period ending with Saturday noon, March 19, and the results for the corresponding Savannah
Memphis
week in 1903, 1902 and 1901 are also given. Contrasted with Atlanta
Nashville
the week of 1903 the total for the whole country shows a loss Norfolk
of 9-8 per cent. Outside of New York the decrease from 1903 Augusta
Fort Worth
is 0*1
—20
241,128,508
3,238,438
2,415,232
2,083,261
540.945
451,034
Spokane
-)-2-2
241.618,533
21.5.873
2,670,74'
Portland
Topeka
Davenport
Partly estimated.
The full details for the
631.000
764,828
515,876
670,118
790,216
517,523
549,766
400.000
427.488
384,361
263.693
2,855.421
1,762,423
1.712.165
1,097,484
-328
-280
—161
196,334
232.259
81,576
.
The following table, made up by telegraph, etc., indicates Decatur.
Mansfield
that the total bank clearings of all the clearing houses of the Jacksonville
Jackson
United States for the week ending to-day, March 26, have Ann Arbor
been $1,951,955,674, against $1,916,943,214 last week and
Total Mid. Western
$1,985,226,784 the corresponding week last year.
San Francisco
522.998
626.662
818,453
—5-9
—2-4
+23-6
+3-1
—0-4
726.600
676.961
627.913
620,776
621,911
494,290
469,791
394.923
339,409
441,980
241.435
190.001
293,705
198,436
77,177
Ill
O
1,465,331
1,541,595
1,819,902
1,017.880
141.682,481
Youngstown
Kalamazoo
SpringUeld.
1.62:1,170
161,668 938
21,607,950
15,442 577
9,258,930
7,092,733
5,548,980
4.056,200
2.609.458
1,178.248
Lexington
Canton
Rockford
124,070,069
0,783,900
2.892.526
161.875.508
21.884,900
18,386,058
9,713.113
7.807,209
5,459,024
4,218,600
2,934,553
3.034,632
1,840,735
l,ti45.042
c/r
Dec
133.970.738
Akron
Publishers,
Box 958.
Office
Cleveland
Detroit
Toledo
Messrs. Edwards & Smith, 1 Drapers' Gardens, E. C, wUl take sub
«cnptions and advertisements, and supply single copies o£ the paper at Is.
B.
Ci ncinnati
Peoria
LONDON AGENTS:
WILLIAM
New England.
Chicago
Transient matter per inch space (14 agate Unes)
1903,
*
116,762.882
6.619,300
2.956,612
1,674,126
1,459,274
1,036.665
1.349.332
732,994
438,813
497.732
443.008
Boston
Providence
Hartford
Inc.
2022.
lal.
!.1.'J9,014,256 2,464.7 42,727
778.880,949
717,931.040
18,016,040
15 354,394
2,277,4.V)
17,316,578
10.872.183
1.610,926
1,360,000
Canada—
Halira.f
.l.'iO,
Ottawa
920
(Juobco
196, IM7
173, .Ml
Vancouver
I
1,8:16,
l,-)4
1,068,6,59
llanillton
,01K, h.V2
891.805
John
London
748, 570
775, 189
548. 1141)
8.1«,.301
41,922,603
52.958,404
St.
Victoria
Total Canada
8H8.4I1
594. .89
-300
-28-2
4-5-:i
-10-5
4-9h
4-176
-18-2
—
1.0'<;9,042
1.707.2.')6
1.710, Kill
h77,-2:)5
8l5.6:i:i
082,085
791.281
776,405
708,082
12-.><
-8-5
-20-8
461,940
ese.'oris
44,138,000
84,085,301
;
Till-:
119:i
moat Inflaonce on the itock market setback seems
of
week has been the movement for the subBtantlal
llquldaUon of the Northern Securities Company.
That company'd action, as stated by us a week ago,
was adjudged Illegal on appeal from the Circuit Court
of Appeals by the Supreme Court's decision handed
this
Following the lead of that decree
the directors adopted a resolution Tuesday of the current week, after the close of business in the afternoon, to carry out the mandate of the Court by the
down
last
week.
cancellation of 99 per cent of
the outstanding $395,-
400,000 of the capital stock of the Securities ComIn farther pursuance of the same object, it
pany.
was determined that on the surrender of each 100
shares of the Securities Company stock, 39 '27 shares
Northern Paclfn and 30-17 shares of the Great
Northern would be given to the holders; consequently
at the yaluation of 116 for the former and 180 for the
latter (:he same prices at which they were put into
the merger) each holder of 100 shares would receive a
This plan having been
total value of 19,946 65.
adopted, a special meeting of the shareholders of the
Securities Company was called for Thursday, April 21,
at eleven o'clock, at Hoboken, N. J., to vote upon the
of
resolutions
drawn up embodying
it.
A
remarkable feature of this Incident was shown in
the marked effect the action of the directors had
on our Stock Exchange. It seemed to produce two
classes of buyers for all the stocks concerned in the
merger. The plan adopted kte Tuesday afternoon
must have been arranged previous to the meeting, for
it was known on the Street earlj Tuesday morning by
the maj )rity of traders that action with reference to
the winding-up of the Securities Company's affairs
was to be taken that afternoon. Of course we may
presume from the previous gradual rise in those stocks
that those concerned in the merged companies had
known for some days what was to be done; very likely
others had only a vague notion of the plan to be
At
adopted.
all
events,
among
th^s
latter
I
demaud, ihe sales reaching only
and values suffered a loss.
A
THE FINANCIAL SITUATION.
The eyent
Vol. lxxviii.
rilROXK'LL:.
to
637,402 shares,
cause for this
been a reported
have
hitch
in
movement. Obj jction was said to
have been raised to the method adopted for the distribution of the assets of the Northern Securities
Company; the claim reported to have been urged was
that the same amount of Northern Pacific stock
should be returned to the parties to the merger that
had been deposited by each. We have no confidence
iu the rumored existence of friction between the
Furthermore if any should
parties to the merger.
arise, it would beyond doubt be speedily settled.
Na
one, we are sure, desires to revive an old conflict which
years ago was compromisad and shelved. Aside from
that inilaence there ii no doubt that the advance had
for the time about run its course, and a halt was due.
the
liquidation
Altogether, this
little
episode has been a revelation.
During past weeks quite a substantial rise had been
established, and some began to question whether the
market had not gone beyond what the facts warranted.
At this juncture came the effort of the bears on Monday to reap the benefit of this imaginary shadow
quite a severe attack on that day resulted in some
liquidation, but only in moderate declines.
Immediately thereafter followed another upward turn continuous during two days without any marked favorable change in conditions except what we have related
above.
The retrograde movement of Thursday wa»
natural and timely; while the recoveries of Friday
came as a reminder that we are on the up-grade, and
unless some adverse conditions not now in sight
shonld develop, further recovery
is
the prospect.
In contradiction of a rumor on Monday that there
would be a further postponement of the Panam i Canal
payment, it was officially stated on the following day
at the Djpartment of Justice that there is no further
obstacle to the transfer of the Canal rights and property; it was also stated that W. A. Diy, Assistant ta
the Attorney-Ganeral, and C. W. Eassell, Special Asclass sistant Attorney- General, would sail for Paris on
with Wednesday to take part in arranging for the transfer
some of those short of the market;
their
knowledge indefinite, the ghost of the of the Canal property. Washingtoa dispatches on
Northern
Pacific
corner
was an
easy
object Thursday further announced that 10 millions of the
for their ImaglDaiion to feed upon.
It will be 22 millions of public funds that will be surrendered
remembered, too, that short sales had been increased by the depositories outside of New York un.
the previous day, Monday, and quite a general de- der the call of the Secretary of the Treasury,
cline In market values had been produced, but that
issued on March 3, for the surrender of 20 per cent
the Northern Securities Company aad all that group of GDvernment deposits had already been turned into
were
of stocks, in spite of the sales, continued to advance.
—
These two classes thug became eager buyers the
owners and their following on the one side and those
who were short ol the market on the other. Speedily
the upward movement became pronounced and eagerness to get the stocks turned into a general rout of
the shorts and an indiscriminate rush to cover. lo
the excitement,
not only
the Northern Securities
group but almost all stocks fell within the range of
this lEflaence, acd general surprise was felt and expressed at the wide and large short condition dis-
A
notable illustration of the comprehensive
character of the haste to cover was Pennsylvania
closed.
stock,
which sold again
the specially designated depositaries in this city
—the
Commerce, Park, Hinover, Chase,
Ameiicaa Exchange, North American, Mercantile,
First National and the Citizens' Central and that
the remainder of the called deposits would be placed
with these depositaries by March 26, when the abovementioned call would mature; the quota of publia
deposits which was held by the banks in this city
National City,
—
has already been surrendered under the
money
will be
call.
The
held awaiting the final payment ta
the Canal Company, which will be effected in the
manner heretofore stated
13,
(see
Chronicle February
page 668).
at 120.
This active demand continued not only through
The New York Central & Hudson River statement
Tuesday, but the whole of Wednesday, the sales being for the March quarter has been issued the present
largest the latter d»y.
Tuesday the sales reached week (the results of course being partly estimated, as
1,052,246 shares and Wednesday 1,308,747 shares. the quarter do3s not terminate until next week) and
On Thursday there was a substantial check to the it makes a much better showing than would have been
[AE. 26,
THE CHRONICLE
1904]
1193
aed possible considering the conditions that have spring and summer the demand for coal Is light, la
Daring January and February the system the autumn and winter it is active. The rebates are
railed.
to contend with adverse weather as probably never offered as an Inducement to dealers to stock their
re in the company's history.
Ettreme cold pre- yards with coal before the rush on the part of conBd and in addition the lines in the northern portion sumers begins in the autumn. The arrangement
lie Stite were blockaded with snow the greater part
ought to ba advantageous to dealers, consumers ana
so mnch so that the road had thon- companies alike, making it possible for the lattie period
cars
tied
of
np at times, unable to move. The ter to distribute their production through the diffIs
38 in gross earnings resulting from this situation erent months of the year more evenly than would
3 shown in the monthly returns, the decrease for
otherwise be the case, and also to furnish a larger
—
aary having been reported as 1868,696 and for
ruary as $430,072; for March the result evidently
)ing to be
mnch
measure of employment to the miners during the
active
months
in-
in the trade.
better, as the falling off for the
There was no change in official rates of discount by
estimated at $1,379,700. It was not
ight likely that expenses could be diminished any any of the European banks this week, and, compared
lew of the difficalty experienced in keeping the with last week, unofficial, or open market rates, were
months
le
is
open, bat
I
to
appears that the management were steady.
it
cut them down
ing,
In
amount
of $338,600,
still
however, a loss in net of $1,041,100.
As
was a quite
siderable increase ($467,100) in the income from
One item In this enlarged return from
istments.
istments was undoubtedly the Increase In January
to
offset
martial
this
loss
there
The semi-annual dividend
England was reduced on Thursday
of
the
Bank
of
4^ per cent for
time In seven years
the six months.
to
This is the first
that the dividend has been below 10 per cent per annum. The feature of the statement of the New York
Associated Banks last week was the wide discrepancy
between the results of the cash movements as shown
by the statement and those Indicated by the prelim-
3^ per cent to 4 per cent In the semi-annual
dend of the Lake Shore & Michigan Southern Co., inary es';lmates, the official return Indicating a loss of
It will $2,690,300 cash, while the traceable movements of
rhose stock the Central owns $45,389,200.
per cent extra on said stock will money called for a gain of about the same amount.
eea that the
d
I
account for almost one-half of the $467,100 inFixed charges were
ise in the investment income.
quarter of
corresponding
than
in
the
larger
J,500
The result altogether has been that the Central
).
$867,300 short of meeting the 1^ per cent dividend
the quarter. The Mirch quarter, however, is
ally one of the poorest quarters of the year, it
le
the winter months;
even In 1903 that
rter snowed a deficit of $143,845 below the divld requirement. The company's fiscal year ends
Jane, and for the nine months to March 31 there
surplus above the dividends in the sum of $769,which compares with a surplus of $1,618,662 in
corresponding months of the previous fiscal year.
iprlsing
ti
,
been considerable discussion recently as
the anthracite coal companies would the
The
and the required reserve was thereby reduced by $83,800, deducting which
from the loss of cash left $2,626,500 as the decrease
In surplus reserve, to $27,310,575.
Calculated upon
deposits decreased $266,200
the basis of deposits, less those of $40,488,700 of pub-
Loans
were increased $1,619,800, public depialts were augmented $953,700 and circulation was decreased $1,048,80); one Incident was the merger by the Cltlzms'
of the Central National Bank, which became effective
on Monday, x'he bank statement of this week should
reflect, among other items, the transfer hence to New
Orleans through the Sab-Treasury of $300,030 and
the transfer hither from Sjn Francisco of $2,878,500,
principally the proceeds of Japanese yen.
lic
funds, the surplus reserve
Is
$37,432,750.
'here has
^rhether
Money on
call,
representing
bankers' balances,
usual spring redaction in the loaned on the Stock Exchange during the week uniper cent,
It appears, too, that there was some formly each day at If per cent and at
568 of coal.
Banks and trust companies
ereace of opinion among the managers of the averaging 1 f per cent.
Time loans
a fact", loaned at If per cent as the minimum.
aral companies on the point in question
the way, which Is decidedly opposed to the notion were freely offered, but the business was small, comsent year
make the
H
—
even mission houses generally having obtained all the
ugh harmonious relations may prevail. It Is money they expect to need. Bates on good mixed
Stock Exchange collateral are 3^@3 per cent for
7 certain that all the companlas will follow the
ninety days, 3J per cent for
ctlce of other recent years, and on the Ist of April sixty and 3 per cent for
four to five, 4 per cent for six to seven and 4^ per cent
)te prices 6O3. lower than the winter schedule, reCommercial paper Is lo only
jlng the price of stove coal from $5 per ton to $4 50 for eight to ten months.
t
anything In the shape of a monopoly
exists,
moderate supply, while the demand
R*tes
are 4i@4f per cent for sixty to ninety djy endorsed
bills receivable, 4:i@5 per cent for prime and 5@5^
per cent for good four to six months' single names ;
some endorsed paper is reported to have been sold
itse.
The reduction, as will be recalled. Is really during the week at 4^ per cent, but this Is not rethe nature of a rebate. The reba'.e gradually garded as a fait quotation.
newspaper reports are to be believed,
from the action of one
3 general reduction follows
two of the companies In announcing a decrease In
se without consulting the managers of the other
ds, thus forcing these latter to adopt the same
ton.
Bat
if
ainisbes as the season progresses
—that
Is,
is
good.
the fall
The Bink of Eigland minimum rate of diaoount
allowed only in April, then Is decreased to
The cable reports
at 4 per cent.
cents In May, to 30 cents In June, to 20 remains uocnanged
in L-jndon
cents In August, so diacounts ot sixty to ninety-day bank bills
its
in July and to 10
market rate at Parla Is 2'i
.t
by the Ist of September the customary 23@3 per jent. The open
The object per cent tnd at Berlin and Frankfort it is 3|@3| per
iter schedule will again be in force.
special cable from London
hese rebates is of course perfectly plain. Iq the cent. / ccording to our
cents
Is
.
.
THE CHRONICLE.
1194
Eogland gained £119,636 buillou dunug
the week aud held £36,792,708 at the close of the
Oar oorreapondont farther advlaei ua that the
<ireek.
-g*la was dae to the Import of £112,000, of which
£100,000 from Egypt and £12,000 from Australia, to
exports of £80,C00, of which £50,000 to Argentine and
£30,000 to Bermuda, and to receipts of £88,000 net
from the Interior of Great Britain.
the
..
Bink
of
The
[Vol. Lxxviii.
b435@l 8446 for
and 4 8760@4 8760 for
banks 4 8416^4 8426 and
mttrket closed on Friday ai 4
long, 4 8710(^4 8716 for short
Commercial on
documents for payment 4 83:^@4 84^.
Cotton for
payment 4 83^(^4 83^, cotton for acceptance 4 8416
®4 8426 and grain for payment 4 84@4 84^.
cables.
The following
gives the week's
to and from the interior by the
foreign exchange market was firm this week,
Tiotwlthstandlng fairly large offerings of bills against
The
WuK anding Marih
movement
New York
CwTenoy
money
banks.
Received by Shipvedbv
N. T. Batik*. N.r.Banki.
2C, 1004.
of
Net Interior
Movem«nU
$6,108,000
t4.800.000 Gain. tl.809,0M
purchases of stocks for Earopeaa account, which ap
Odd.
924.000
700,000 Gain.
824,000
.peared tj be encouraged by the settlement of the
Total gold and legal tenderi.
97.039,000
15,500,000 Gain. 1,682,000
plan for the liquidation of the Northern' Securities
With the Sub-Treasury operations the result is aa
Oompaay. There did not seem to be any increase in followB.
offerings of commercial bills against cotton as the
Into
Out Of
NetOhanoein
Week ending March 26, 1904.
result of the collapse in the bull speculation In that
Banki.
Banke.
Bank
1
Holding*.
and the supply of drafts against grain was
small. The French exchange was influenced by the firm
rates for money at Paris and sight francs were strong
during the week at quotations close to the gold-export
There were some Indications on Wednesday
point.
that gold might be shipped to Paris, as an arbitration
operation, by the Frencla steamer sailing on the following diy, but though gold bars of high grade of fineness were procurable at the Aisay Ofl&ce, no gold was
engaged. The maintenance of firm rates for bank•era* sight sterling and the low quotatloos for ex
-change At Paris on London seemed to make it probable that some gold would go forward on Tuesday of
«t»ple,
•
but bankers expressed the opinion that
•even if there should be no change either in the New
York or the Paris rates, gold shipments would be un
The Assay Office paid $887,164 20 for doprofitable.
•next week;
mestic bullion. Gold received at the Custom House
during the week, $48,724.
Nominal quotations for sterling exchange were 4 85
day aud 4 88 for sight. The market for
actual business was strong on Saturday of last week
at an advance, compared with the previous day, of 10
points for long aad for cables, to 4 8440@4 8450 for
the former and to 4 8740@4 8760 for the latter; short
was 15 points higher at 4 8706@4 8715. The market
wae dull and barely steady on Monday and without
ch&Dge for short and cables, but long was 10 points
lower at 4 8430@4 8440. There was a recovery of 10
pointe in long on Tuesday, to 4 8440@4 8450, but
short and cables were unchanged, though the tone
WAS firm. On Wednesday the market was strong all
around, long advancing 10 points, to 4 8450@4 8460;
short 5 points, to 4 8710@4 8716, and cables 10
paints, to 4 8750^4 8760.
On Thursday the tone was
easier for long at a decline of 20 points to 4 8430@
4k 8440, while short and cables were steady and unchanged. The market was steady on Friday, with
long 5 points higher and no change in short or in
caMes, The following shows daily posted rates for
exchange by some of the leading drawers.
lOT
iilxty
MON., Tubs..
Pbi
Mar. 18. Mar. 21. Uar. 22.
.
4»5
iBH
!:5
t6
88
Montreal
4 87Ji
(Sight
0«a«dlan Bank 1 60 day* 4 84i<
of Commerce.. ( SlRht
4b7«
88
86
88
85
88
t5
8b
86
88
a«14«ibMb, lok- 60 day*
fc5
•«»'' B'"
im?.*
60 days
UogOBD&Co.. ( Sight
( 60 days
•wik Brltlth
No. Amerioa.. t Bleht
/Bank of
( 60 day*
<i«ri]i«t,
<
(
•llMlBier
A Co.
(
4 85
4b8
4a'i
4?8
4 84^
4^.5
4S»
SiRht
85
4 88
4
Marobant*' Bk.
of Canada
(
{
60 day*
Sight
.
i^^
4 87H
58
85
88
65
8-i
86
88
85
88
85
88
8fi
88
as
58
fcS
88
86
88
WlD..
Thuk.
Afar. 28. Afar. 24.
k5
8»
96
88
85
88
85
88
86
88
86
88
86
88
85
88
85
88
65
es
^5
ta
86
88
86
88
86
tb
1:5
8b
es
88
KRl.
Mar.
E5
88
86
88
85
88
85
8d
85
8i
83
88
85
88
86
8b
25.
Banks interior moyement, as above
Sub-Treasnrv ooeratlona
Total
(rold
and legal tenders.
97.088,000
23,600,000
15.600.000
22,600,000
»80,682.non
128,100.000
The
following table indicates the
in the principal Europpan banks.
Gain.
amount
March
Marcli 24. 1904.
Bank
Gain. 11,532,000
Gain. 1 000.000
2.632.000
of bullion
26. 1903.
of
England
eold.
Stiver.
lotal.
Gold.
Silver.
lotaJ.
£
£
£
£
£
£
35.788.798
France
Germany....
Russia
Ans.-Hnng'y
Spain
Italy
86,782,798 32.682.361)
38,688,366
94,178,162 44.B3S.228 188,718.380 101,048,998 48,686.863 146,036.856
36,164,000 12.706,000 48,870,000 34,696,000 12,190.000 46.886.000
89,803,000 8,291,000 98,094,000 79,689.000 8.489,000 88,178.000
47.223,000 12,811,000 e0,03t,000 46,168,000 18,898,000 69,069,000
14,831,000 19,687,000 84.218,000 14,462,000 20,093,000 84,546,000
21,924,000 8,786.800 ii5,710,800 17,569,000 8,878,800 19,632,300
Netherlands
5,441,700
6,699,700
12,141.400
4,107.400
6,587,000
10,694,400
Nat. Belg'm.
3,180.667
1,690,833
4,771,000
3,197,333
1,698.667
4,796,000
Totthls week 348,338.317 110007081 468,346,37? 833,694,091 108113830 441.707.981
Tot, prev. w'k 318.Sei,668 109004561 457,266,226 337,833,660 107635473 444,769,188
WHY THE TONE
While there seems
and
IS
little
MORE HOPEFUL.
likelihood that the activ-
which
have
occurred on
the Stock Exchange since the adverse decision in
the Northern Securities Oo.'s case can be continued
(a decided reaction having already taken place), and
while a revival of speculation at this juncture would
in our estimation be decidedly unfortunate, there can
be no doubt that the decision referred to affords a
In fact,
substantial basis for an improved feeling.
the event furnishes the first real ray of hope that has
ity
rise
in
prices
developed amid the vicissitudes and set-backs of the
The decision leaves the situation
last three years.
wholly different from what it was expected it would
be in such a contingency. It was feared that legal
condemnation of the action of the Northern Securities
Co. in acquiring the shares of the Great Northern
Railway Co. and of the Northern Pacific Railway Co.
wonld leave the outlook hopeless. It is now seen that
there are features connected with the Supreme Court's
adverse judgment which Invest the general prospect
with considerable promise.
To understand how completely the aspect of things
has changed, it is necessary to rehearse briefly the
events of the last three years which reached their culmination in the ruling of the Supreme Court a week
ago
last
Monday.
The Northern
Securities Co. had
Northern Pacific corner and thereit B origin in the
salting stock market panic which occurred in May
1901.
The corner was caused by
a contest for the
Northern Pacific property between the Morgan-Hill
interests on the one side and the Harriman-Union
The Harriman
Pacific interests on the other side.
people seemed to feel that the acquisition of the
Chicago Burlington & Qalncy by the Northern
Mak.
THE CHRONICLE
2C. 1904.
and Great Northern companies jointly might
prove detrimental to the Union PAciflc. They aoaght,
therefore, to get control of the Northern Pacific Co.,
which under the joint arrangement with the
Great Northern had a half Interest in the Burlington & Qaincy property. They reasoned that with the
Northern Pacific under their domination they would
be in position to prevent any step on the part of the
Burlington & Qaincy tending to deprive the Union
Pacific of the traffic which it had previously bien
getiing from that system. As we understand the
niHtter, it wag not so much the Njrthern Pacific they
desired hs the Northern Pacific's hold on t^e BurllngtoQ & Q ilncy. Had Mr. Morgan been in the country
at the time the matter would probably have been
Pacific
1195
But the Northern Securities Go. met with great
opposition from the very start, and became Involved
in law suits of
one kind or another. Nearly all the
States along the lines of the Northern Pacific and
Great Northern antagonized It and finally the National
Government Itself stepped In to defeat Its purpose.
Accordingly the community-of-interest plan was again
placed In jeopardy. In February 1902 the State of
Minnesota failed In Its suit against the company, but
the next month the United States Attorney- General
began the suit under the Sherman Anti-Trust law,
which reached its termination on Monday of last week.
It is not necessary to remind the reader how disturb-
announcement of the beginning of this suit
proved and what a serious break in prices ensued at
ing the
arranged without much trouble to the satisfaction of the time. The various hearings, too (extending over
both parties. As it was, Mr. Morgan was In Earope, many months), In the actions against the Northern
and accordingly the H^rrlman-Union Pacific people, Pacific Go. served as a constant reminder that the
deeming the protection of the Union Pacific Interests Northern Securities Go. was engaged in a struggle for
of paramount Importance, went into the market and existence and that upon the outcome of that struggle
bought the Northern Pacific stock they waated.
depended much elselu the railroad v^rorld. All this time
What alarmed the public In this contest for control the Government suit was making little progress. It
^as that it seemed to indicate that the community^of- simply hung as a great cloud over the business
interesc idea, uitder whi'jh the railroads (and with world.
In February 1903 Oongreas, In providing
themgenrdl industry and trade) had thrived and what Is known as the antl trust legislation of 1903,
prospered aa never before in the country's history, was passed a law endowing the United States Attorneyabout to be abandoned. It quickly became apparent General with authority to have hearings in suits by
that DO such dire result was in prospect.
The con the Government Instituted under either the Interflict
afforded Mr.
exercise of
Morgan a new opportunity
his great
talents.
On
Commerce Liw or the Antl- Trust Law expethe dited. The Government Immediately had Its case
for the
the 31st of
State
same month (May 31 1901) an understanding was
reached between the Northern Pacific and Union
Pacific interests under which the composition of the
Northern Pacific board was left In the hands of Mr.
Morgan, all parties having absolute faith In his
sound sense and good judgment. On July 17th he
sent a letter to Kuhn, Loeb & Co., James J. Hill and
E, H. Hariiman, in which be named the gentlemen
who were to constitute the new members of the
Northern Pacific board, that is James J. Hill, E. H.
Harrlman, William Kockefeller, H. McK. Twombly
bnd Samuel Eea, with Wm. K. Vanderbilt as referee
In practically the whole of the time covered by the
foregoing review the tone on the Stock Exchange has
been much depressed and the course of prices downward. There have been other unfavorable influences,
such as the assasinatlon of President McKlnley, the
steel workers' strike, and the great conflict in the anthracite coal fields; but the dominant, the all-controlling
or arbitrator.
factor In the situation has been the litigation against
The concensus
cf these
of opinion was that In the selection
men Mr. Morgan had shown
great skill and
Mr. Morgan's conviction, too, that as each im
portant Interest had bean given its representative,
"there should be no difficulty in reaching a conclueion that would be fair and just to all concerned and
tend to the establishment of permanent harmony
among the different lines," wag deemed fully war
raated.
Hence the feeling was that the trouble was
about over and the course of prices on tne Stock
Exchange reflected this feeling. Ifc remained only to
provide for the permanent adjustment of relations
between the Northern P^icific, the Great Northern,
the Union Pacific and the Burlington & Quincy. This
tact.
—
against the Northern Securities Go. advanced,
April 1903
came the
decision of
and in
the United States
Circuit Court of Appeals against the
Securities Oo.|
which decision has now been affirmed by the U. S.
Supreme Court.
After the Northern Papanic In 1901 the market had
the Northern Securities Co.
cific
corner and the
May
recovered, owing to the restoration of harmonious re-
between the opposing parties in that memorable
contest.
But with the organization of the Northern
Securities Co. and since the beginning of 1902, a
period of over two years, the Northern Securities Co.
has been the continual target for legal attacks.
Everyone has recognized, too, the great Importance of
lations
ihe points at
Issue,
parclcnlarly In the
suit of
the
National Government under the Sherman Anti- Trust
Law of 1890. There were apprehensions not alone
would fall to find legal apdownfall would mean the downfall
that the Securities Co.
proval, but that Its
adjustment was effected, it will be reciiiled, by the of large numbers of other combinations in the railretirement the 1st of January 1902 of the $76,000,000 road and financial world, and that the whole oomprafer/ed stock of th'^ tiorohern Pacific and the organ- munlty-of-lnteresc arrargement so carefully developed
In a word, since
Iztirion of the Northern Securities Go. with $400,000,- in recent years would go to pieces.
000 authorlzad capital, which by Interchange of shares early in 1902 the financial and industrial public has been
on a certain agreed basis was to acquire the entire
outatandiog stock of both the Northern Pacific and
the Great Northern properties. Thus as far as the
participants in the May contest were concerned, the
commuQlty-oMnterest Idea was still dominant; and
had the matter rested there, that would have been the
end of it.
under thraldom of a fear that the business arrangements under which industrial peace has been maintained la modern business life were in danger of being
destroyed, relegating the country's Industrial affairs
back to the uethods of strife previously prevailing.
any wonder then that now that It Is seen that none
of these anticipated dangers are to follow, a sense of
Is It
—
THE CHRONICLE.
iim;
[Vol. Lxxviii
have an ownership in both
Northern Pacific and Great Northern. Of course the
extent of the ownership in each of the companies will
and be far less than a majority (only $32,394,000 out of
the case rendered by the justices on the majority
the Northern Pacific and
minority sides make it apparent (as we showed In our $166,000,000 in the case of
note again In a second $24,887,000 out of $124,000,000 in the case of the
article of last week and
that the Northern Secarlties' Great Northen ), but the community-of-interest idea
this week)
the
great relief should be experlenoed ? Ttie acts of
Northern Securities Co. have been adjudged illegal by
opinions in
the narroweat of margins; and the various
Pacific stock
it
now
will
article
by Itself. Further- does not contemplate or require for Its successful
Interest.
It
more there hus baen an Important modification of working the actual holding of a m«<jority
Interest
to
insufficient identity of
views by several members of the Court, so that It is by aims merely at
peaceful arrangements between
no means clear that the Court In a new case Involving sure harmonious and
In the companies in the same field of operations.
a somewhat different aspect than that presented
case
stands
In
a
class
all
Northern Securities Co. case would not hold that the
Sherman Anti Trust law of 1890 applied only to combinations In unreasonable restraint of trade and not to
those In reasonable restraint.
This
much
Is
plain at
plana remain
events: the communlty-ofinterest
intact, and the tendency is towards a broader
all
and
less
1890 Act.
Since the decision Attorney- General Knox has taken
pains to state that the Government has no intention
rigid construction of the
proceeding Indiscriminately against industrial and
railroad combinations; but even without this assurance the fact remains that If the Government
did attempt to make a general onslaught on the com-
of
THE SULLY FAILURE.
which had led in the effort,
through partial or complete corner of the cotton market, to force an abnormally high price for the staple,
was one of those events which always astonish the
community when they happen, but which are ever
afterwards recognized as a natural consequence of
what had gone before. People are dumbfounded at
such announcements, because they had unconsciously
shared in the belief, based on apparent success in a
The
failure of the firm
daring achievement, that the author of that achievebinations of recent years, it could not hope for success ment was somehow superior to circumstances. But they
In this respect, there- accept at once the philosophy of the failure, because
in the U. S. Supreme Court.
radically changed. an instant of sober second thought teaches them thibt
and
wholly
fore, the situation has
Now there is no in finance, men who seem to be superior to circumBefore, there was reason for fear.
ground for apprehension, for, as already
stated, the fact of paramount importance established
by the opinions rendered in the case is that community-of'interest arrangements cannot be successsubs' antial
fully attacked.
more than any one had darad to hope after
the decision of the U. S. Circuit Court of Appeals
against the Securities Co. last April, and It shows
why flnaacial and Industrial classes now feel so much
more encouraged and why the stock market has responded so decidedly to the improved feeling. As
This
far
as
Is
concerns the parties having direct interest in
the Northern Securities Co , this week's developments
have also given cause for gratification. The action
taken towards distributing the Northern Pacific
men who
defy the rales of com-
mon
principle
is
The
prudence.
The
commonly
a very old one.
popular term of "Napoleons of finance,"
used in a contemptuous sense, embodies it well enough.
What it describes, doubtless with some injustice to
the original Napoleon,
itly in his
is
a
man who
confides implic-
lucky star; who takes chances which expe-
rienced people, for the best of reasons, avoid; who
thereby achieves, as such adventurous parsons very
often do, an Initial success more dazzling because of
the recklessness with which such chances were disregarded, and who tries the same experiment once too
often.
The
and end
Great Northern shares held by the Securities Co.
thus showing prompt compliance with the edict of
the Courl. is very creditable to those concerned in
But there is another aspect of the matter
the affair.
equally
Important. Many had feared that
which ia
with an adverse decision the old conflict between
—
stances are apt to be
reasons
why
careers such as Mr. Sally's usually
as his has done, are
numerous.
One we have
al-
ready suggested; it is the common tendency of the
successful novice at speculation to imagine, because
he has been exceptionally lucky to begin with, that
he will therefore meet with similar fortune in all
There is a type of cold-blooded
similar adventures.
speculator who,
with ^the Instinct of professional
the Morgan Hill and Harriman-Union Pacific inter gamblers, argues exactly the opposite; reckons in the
ests would be revived. This week particularly reports second experiment a chance of failure, all the greater
These reports, how- because of the first unexpectedly brilliant success,
of friction have been plentiful.
ever, have had no other foundation than that counsel and who therefore prepares for possible reverses. That
are not entirely agreed as to how far it is necessary to go our lately aggressive "cotton cl'qae" did not argue
in order to meet the requirements of the Court.
thus, was shown not only by their return to the
Our investigations establish the fact that the Union fascinating game after the spell wai broken, but by
Pacific people are making no demands and are not their utterly foolish excursions into other markets
anxious to get control of Northern Pacific.
Their with which, as was proved by the event, they were
only ctj act is to have the matter settled in such a wholly unfamiliar.
way as to guard against the possibility of renewed
But this is a secondary cause. The real and invarilegal attacks.
There Is not the least likelihood that able reason for failure in experiments of this sort lies
the old sore will be opened again.
The Union in the nature of supply and demand, which regulate
Pacific Co., through the Oregon Short Line Co., holds all markets.
Of this phase of the matter we have
$82,491,871 of Northern Securities stock. With this hitherto written, long before the collapse of this latest
exchanged for Northern Pacific and Great Northern undertaking. A successful corner or such mainten-
—
shares the
—
effect will really be to strengthen the ance of an artificial price as is equivalent to it
Is posoommunity-of-lnterest plan, for where originally the sible under two conditions only.
One is the purchase,
Union Pacific h:.d merely an ownership in Northern from contractors for delivery within a stipulated time,
Mar.
26, 1904.]
more
of a given
THE CHRONICLE.
1197
commodity than can possibly be of-interest, which is the right of individuals to acquire
is the purchase and holding of controlling
shares in the stock of competing railroads.
all that exists of that commodity itself, or of so much
In addition and this is an unexpected cause for great
that peremptory needs of the consumer cannot be satisfaction
the majority of the Judges have made
B^Msfled without recourse to the supply in the corner- clear their
belief that in future a narrower and more
manipulator's hands. But the first depends wholly on conservative construction
should be given to the lanof
delivered.
Tlie otlier
—
—
the question whether unexpected increase in supply
can be avoided; the second, on whether existing de-
mands
are to be maintained;
and in each case the odds
are heavily against the corner.
The very fact of an
abnormal price results, ordinarily, in the bringing to
market of all the supply that can possibly be procured,
and,
real
simultaneously,
in reduction
of
demand from
consumers.
These are old and elementary truths; but they occasionally need to be re-stated, especially after a
season,
when a community seems,
in the face
of
a
long success, to have forgotten them.
The Leiter corner in wheat during 1898 collapsed in
the main because of the arrival of an unlooked-for
speculator's
volume of
All estimates as to exhausted
granaries turned out erroneous in the face of the
supplies.
extravagant bids on the Chicago Board of Trade, and
the resources of the corner-manipulator could not
stand up against the pressure. The Sully clique was
more fortunate
in this regard
—partly
guage of the Anti-Trust Law than has been adopted
in some of the earlier decisions of the CourtThese two facts which are revealed by a study of the
complete opinions seem to us the features of this
case which have a real significance for the future.
It
is of minor importance that five out of the nine
Judges have declared that the particular scheme
adopted in the organization of the Northern Securities Company is in violation of the Anti-Trust Law.
Justice Harlan apparently in his opinion endeavors to
go beyond the scope of the present case and to maintain that the Sherman Act has established as the law
of the land the economic theory of unbridled competition and individualism, and there breathes throughout the language of his opinion the evident suggestion
that this theory meets with his hearty approval.
But
the majority of the Court are against him and have
refused to adopt such a view. The three opinions
they have written are the most important which have
yet come from this Court on the interpretation and
because the
supply was actually very limited, but chiefly application of the Anti-Trust Act.
because producers of cotton were themselves particiJustice Brewer's opinion is discussed in our article
pating in the campaign for higher prices, and there- in last week's Cheoniolb, in which we emphasized
fore holding back their product.
But if the increase his dissent from the position taken by Justice Harlan,
in supplies which overwhelmed the Leiter corner was and his important statement that no law passed by
not this time a formidable Inflaence, the decrease in Congress can interfere with an individual's right
demand played apait which it did not do, even at the to acquire and own control in competing railheight of the corner of 1898
road companies. A peculiar interest attaches also
It needs a good many fiascos such as those of the to his opinion in relation to the interpretation of the
seemingly promising Leiter and Sully "deals" to language of the Act, which in the Trans-Missouri
teach a credulous public that a high price because of Freight Association and Joint Traffic Association
actual short supply or genuine enlarged demand is cases was construed to cover all contracts in restraint
one thing, but that demand increased by forestall- of trade, whether reasohable or unreasonable. While
ing ^operations ^and supply diminished because a still regarding these particular cases as correctly despeculator has bought it up with borrowed money, cided. Justice Brewer now states that the opinions
create a very different situation.
It is fortunate for in these cases went too far, and that the Act intends
the public welfare that this is so. The unfortunate to forbid only such contracts as are unreasonable
total
part
is
that speculators rash
enough
to ignore these
restraints
of
trade and contrary to public
policy.
well-known principles can at times command and use This links his view of the law closely to that of
sufficient credit to derange an important industry. Justice Holmes, whose dissenting opinion is devoted
That the punishment finally, and almost invariably, entirely to just this question of the meaning of the
falls on the head of the speculators themselves, is language of the Act, and maintains that this narrow and more conservative construction should be
small compensation.
adopted.
Justice Holmes subjects to a full discussion the
meaning of the phrase "in restraint of trade" and
makes it clear that no new and unknown meaning
the opin- has been icjacted into this expression which has been
FURTHER FEATURES OF THE NORTHERN
SECURITIES DECISION.
week of the full text of
ions of the Supreme Court in the Northern Securities so familiar throughout the history of the common
His view is that the traffic agreements concase makes even more evident the reasons for genuine law.
satisfaction which may be felt by financial interests demned in the Trans- Missouri and Joint Traffic cases
over the outcome, upon which we commented last differed essentially from the present case because the
The
arrival this
After the sweeping opinion of the lower Court agreements in those cases were made with outsiders,
in this case there was much anxiety leat the Supreme forbidding competition, while in the Northern SecuriCourt might go to the same extent and render a ties case the competition is ended by a real comTo stretch the
decision which would attack the possibility of real munity of ownership and interest.
commmnity-of-interest in competing railroad sys- language of the Sherman Act to cover this would be
as unsound as to say that under its terms any two
tems.
Fortunately this fear has not been realiied. The men who formed a partnership in any business that
majority of the Supreme Court have definitely pro- extended to trade between States could be imnounced in their opinions in this case that Congress prisoned for merely forming the partnership. "If
has not enacted, and has not the power to enact, a law this were the intent of the law," he continues, "I
striking at the foundation of the theory of community- should regard calling such a law a regulation of comweek.
^
-
THE CHRONICLE.
1I9S
merce • mere pretense.
It
would be an attempt to
am
[Vol. Lxxviii.
authority to limit the character or quantity of
property which may be acquired and owned. And the
eral
not concerned with the
wiadom of such an attempt, but I believe that Con- second power, the general governmental one, to
greia was not entrusted by the Constitution with the reasonably control the use of property, affords no
power to make It, and I am deeply persuaded that It foundation for the proposition that there exists in
has not tried." This opinion of Justice Holmes ex- government a power to limit the quantity and
reconstruct eoclety.
I
character of property which may be acquired and
owned."
Justices
We have reviewed the opinions In this case at some
Brewer, whose views we have already mentioned, we
have thus a clear majority of the Court united in the length in order to bring out in full relief the real
The
conviction that a conservative interpretation must be points which have been settled in this case.
study of these opinions shows clearly that the doctrine
given to the language of the Act.
of
of community-of-interest is safe under this decision,
the
lack
question
of
more
fundamental
The still
power In Congress to prohibit real commnnity-of- and that five out of nine Judges are firm in its supThe only fear that this doctrine was ever in
interest as treated in the dissenting opinion of Justice port.
White and the clearness and intensity of conviction peril was due to the fact that this is an obscurely
of bis opinion entitle it to a place among the classic phrased and loosely- constructed law, which might
opinions delivered bj this Court in recent years upon have lent itself to an extreme interpretation had not
He starts with the defini- the majority of the Court refused to go to such an
a constitutional question.
The statute was passed fourteen years ago
tions laid down by Chief* Justice Marshall that inter- extreme.
State commerce means ''traffic and intercouse between chiefly to meet certain exigencies of a political agitathe States," and that the constitutional power of tion. Its authors at the time admitted the obscurity
Congress in regard to this is merely ''to prescribe rules of its language and have since frequently confessed to
for carrying on such intercourse." This is the only their astonishment that its mantle had been extended
source of the power of Congress to enact the Anti- to cover such a multitude of sins. It was a surprise to
Trust Law, and Justice White shows the absurdity of them, as it was to the general business community,
the attempt to include the ownership of stock in cor- when the Supreme Court ruled that its language
porations within these definitions.
"The principle covered all restraints of trade, whether reasonable or
that the ownership of property," he says, "is embraced unreasonable.
When, beyond this, the Circuit Court
within the power of Congress to regulate commerce gave utterance to an opinion which broadly mainwhenever that body deems that a particular character tained that the law struck at the very root of the idea
of ownership, if allowed to continue, may restrain of community-of-lnterest, and stated that it could be
commerce between the States or create a monopoly construed to forbid the acquisition by an Individual
thereof, is in my opinion in conflict with the most of a controlling Interest in the stocks In competing
elementary conception of the rights of property." He railroad corporations, it was natural that the finanproceeds with a long and striking review of the de- cial Interests of the country should haye looked forcisions of the courts and the uniform practice of the ward with anxiety to what the Supreme Court might
fitates in regard to railroad consolidations and the like, decide.
The fact of real importance in this case is
which has always been recognized by Congress, show- that the cause for this anxiety has been removed being that the acquisition of property by corporations cause the majority of the Justices of the Supreme
-whose existence and powers are granted by the Court have refused to adopt a construction of this
States have been and must always be determined and law which would imperil the existence of real comcontrolled by State laws alone.
munity of ownership and interest.
It is only over the actual carrying on of Inter-State
commerce that Congress has any power, and in regard
to this its function is to precribe rules for the actual
EX'
W. B. GRACE.
conduct of such commerce. We quote from the closThe death of ex-Mayor W. E. Grace removes aning portion of his opinion, as it sums up the funda- other old New Yorker one of a fame less broad
mental distinctions in the case. "The case involves and in some respects less public, so to speak, than
the right to acquire and own, not the right to do, that of several whom the city has recently lost and
* * * Undoubtedly the States possess power over yet Mr. Grace was eminent as a business man, and, if
corporations created by them to permit er forbid he had so chosen, could have been a permanent force
consolidation, whether accomplished by stock owner- in public policies. His two terms as Mayor are twenty
ahip or otherwise; to forbid one corporation from years back in time, and his name
had become infreholding stock in another and to impose on this or quent in the newspapers;
yet the record gives a high
ether subjects such regulations as may be deemed rank to his services as the city's executive. Mainly he
best.
Generally speaking, however, the right to do was a merchant and a|shipowner, and he ranked among
these things springs alone from the fact that the cor- the most successful
of such; but his larger commercial
poration is created by the States and holds its rights service was in opening new lines
of trade.
subject to the conditions attached to the grant. * * *
Starting as a clerk with a firm in Callao, he rose to
Moreover, irrespective of the relation of creator to a partnership and gradually made his firm the leading
^creature, it Is of course true in a general sense
that American one in Peru.
Daring the Civil War he was
government possesses the authority to regulate within able to be of marked service to the Government, when
certain just limits what an owner may do with his English and native
firms declined to grant credit to
l)roperty. Bat the first power which arises from the its naval vessels which
called at Callao, then the chief
authority of a grantor to exact conditions in making place of naval
supplies on the western coast.
In 1889,
a grant or to regulate the conduct of the grantee he was mediary between Peru and the foreign holders
«ives no sanction to the proposition that a govern of her 250
millions in bonds, and was instrumental in
ment, irrespective of its power to grant, has the gen- negotiating a contract
by which these were surren-
the ylewa of Chief-Justice Fuller and
White and Peckham, and with Justice
presses also
MAYOR
—
—
MAR.
THE CHRONICLE.
26, 1904.]
dered, the consideration
money payment, a should be no secrecy or concealment concerning anyand some concessions thing relating to government finances, whether na-
being a
long lease of the State railways,
as to gnano.
Some twelve
years ago he founded the
pioneer direct steamship lino between New York and
the South American west coast, and his entire
business
life
tional. State or municipal.
At the same time, it is due to Treasurer Bradford
to make acknowledgment here that his method of sell-
was devoted to South American develop- ing bonds
ment.
The
119^
at private sale has
factory results.
career of Mr. Grace adds one
more
to the ex-
When we
on the whole yielded satis*
negotiations
say that his
have been conducted at private sale, we do not mean
that there has been no competition.
There has been
competition, but it has been confined to a certain
number of bond houses, and there has been no public
offering, either by advertisement in the papers or
through circulars scattered broadcast. The practice
has been to send circulars to the selected list of
houses already referred to, but not to go outside of
this list; and] after bids from these parties had been
received to award the bonds on the most favorable
terms possible.
At the beginning of 1901 State Treasurer Bradford
still adhered to the practice of inviting public bids,.
but an experience which he encountered in July 1901
seems to have inclined him in favor of a change of
method. Massachusetts had offered $8,126,800 3 per
cent bonds for sale July 17 1901 and had failed to
amples which prove that success consists in the right
directing of means to worthy ends; that dependence
for success Is upon character rather than favoring circumstances, and that this is the country where opportunities are largest and men most surely accomplish
their own deserts.
This man was not born in poverty,
but he ran away from school to sea, as many another
boy has done, and made his own way by his own exertions.
Over and over it is proved by examples that
the successful man starts from the bottom, and that
the inheritance or the expectation of riches is a serious
handicap; it appears pleasanter to receive than to
earn, and the seemingly born favorites of fortune will
always be envied; yet in these days of trades-unioi^ism,
of attempts to rise by clinging to somebody else, and
of the tendency to the extreme proposition that propThe reason for this state of
erty is robbery, it is well to emphasize every fresh proof receive a single bid.
things
plain
enough.
It was the period following
right
mental
was
qualities are
that sound health and the
the May panic in 1901, when there was no demand
the best capital.
Other than this, the lesson of Mr. Grace's career is in for a bond bearing only 3 per cent Interest, even of
furnishing another example that what we call education the gilt-edged sort which Massachusetts had to offer.
Of Abram S. Daring the next few weeks he succeeded In selling
is not essential to business success.
Hewitt we remarked that he proved that scholarly soma portion of the bonds at private sale, but It
ability and training are not a handicap In a business became evident that conditions were no longer such
career, but doubtless aid that in some measure. Both that a 3 per cent bond issue could be disposed of.
these men unconsciously Illustrated what is becoming The following September he made another public
more and more plain: that there is no firm and fixed offering, this time for 15,601,800 bonds (nearly the
line of distinction between profeesional and business whole amount forming part of the 18^126,800 bonds
but
raised
the
Jnly),
the
previous
careers (so- called) in respect to usefulness and title to offered
This latter
honor. Business does not consist merely in trading, rate of interest to 3^ per cent.
but includes producing and developing. Education block was all taken, on an Interest basis, however,
Since then there have been no pnblla
and service are alike broad and varied, and there is of 3*19^.
equal room for ambition and hope in the commercial
and
sales.
At the
in the professional field.
first
private sale subsequently
made
great-
For instance,
improved terms were obtained.
in February 1902 he placed $3,600,000 bonds at aa
interest basis of 310 per cent, and in June 1902 he
PUBLICITY IN MASSACHUSETTS BOND disposed of $1,809,000 bonds on a basis of 3-08. The
SALES.
improved terms, it is proper to state, did not indicate
Massachuthe
in
A bill is now under consideration
anything either in favor of or against private sales,
place
will
law,
into
enacted
if
setts Legisture which,
since financial conditions had measurably changed
basis
same
the
on
Massachusetts
of
After that he
Oommonwealth
the
in the interval.
for the better
as most other States, and also most of the important again had to pay much higher rates for his borcities throughout the country, as regards the method rowings, the interest basis towards the end of 1903^
It is rather rising to 3*30 per cent.
This rise, like the previous
to be observed in disposing of its bonds.
no
law
is
there
time
noteworthy that at the present
decline, really signified nothing, it being entirely in
on the statute books of the Commonwealth prescrib- accord with the course of bond values generally. We
ing the method of obtaining proposals whenever bonds have thought it interesting to compare the rates paid)
lb is optional with the State by New York City with the rate which Massaonusettt.
or notes are to be sold.
Treasurer whether new bond issues shall be disposed has bad to pay from time to time sfnoe the last pubof at public or private sale, the matter being left en- lic sale in September.1901, and accordingly give the
tirely itt his discretion, he exercising his best judg- following table.
ly
ment in the premises.
The proposed measure, correcting practice in this
respect, is obviously prompted by the fact that during
somewhat over two years the State Treasurer has
deemed it advisable not to solicit open proposals, but
to sell at private sale such bonds as he had to place
from time to time. We can see no objection to the
new measure. On the contrary, we think it a desirable piece of legislation.
It Is
our opinion that there
tt.
1901—
Sept
Amount.
$5,601,800
—
Ba$it.
319»»
Oct
***•
Deo
1902Feb
....
May
Jane
Sept
Not
Deo
3,500.000
None.
1,«09,000
650.000
310
None.
200,000
.••.
....
308
317
3-14ifl
.
New York
Am(runt.
$3,000,000
3,600.000
7,891.000
8,000.000
4,993,000
4.667.000
^
City
Bcuifi
3-362:
3178
3^22:
319*
3-233i
3-28
None.
7,600,000
None.
3-24&
.....^
J
rp
rHE CHRONICLE.
200
Mas»aehuM((i.—~s
.
Amount.
1903-
Basis.
None.
F«>b
11)0.001)
Mm
None.
Apr
2,136,000
May
1,685,000
2,101,000
300,000
Oct
Nov
1904—
3-12»«
3,650,000
Mar.
Oily.
5
.
liasis
3-312
None
2,500.000
3-32
3-19 to)
3'19
to
2,500 000
3 364
3-22
3-30
3,000.000
3,500,000
3-32
3-419
3 30
None.
7,500,000
3'156
10.000.000
3,000,000
3-49
3-495
None,
Jul
Neir York
Amount.
«17,000.000
Jaa.
July
—
(1)
....
be seen that the changes here recorded In
the case of the Massachnsetts bond sales correspond
pretty closely with the changes in the case of the New
Massachusetts bonds during
better terms than
the whole of the period
New York City bonds, but the diflference between
Massathe two has remained pretty much the same.
3
chusetts paid '30 per cent for its money in October
York City bond
sales.
commanded
1903, as against 3*19^ In September
1901, which
should never be subjected. The fact that up to the
present time not a breath of suspicion has ever arisen
on this score against any incumbent of the office does
not affect the validity of the argument. It Is within
the range of possibilities that political influences might
lead some future incumbent to favoritism.
all
It will
[Vol. lxxviii.
There is
the more reason for applying the same* rule to
Massachusetts that obtains elsewhere in the fact"that
tho Commonwealth's bond sales each year foot up a
considerable amount.
The State Issues bonds not
only for its own direct requirements, but also to meet
the requirements for various purposes of sundry cities
and towns.
These
last
constitute the nominal or
contingent debt of the State, since to provide for the
same the cities and towns thus aided are required to
levy a direct annual tax sufficient to pay principal
and interest. In 1903 aggregate bond disposals of the
State were $7,016,160 and in 1903 $6,672,100.
was
There seems to be little opposition to the measure,
the bond houses to which the Treasurer
On the other hand New York City paid has been accustomed to send his circulars Inviting bids
wealth.
3 456 on an issue of 17,600,000 bonds in Noyember being reported In the dally papers as In favor of the
1903, as against only 3*362 on a $3,000,000 issue in same.
There appears to be, therefore, no good reason
basis
this
comparison
we
of
September 1901. On the
why the bill should not become a law. Its provisions
do not think an argument could be built up In fayor are very simple, and it is important to bear in mind
of private sales as against public sales, but the con- that its application will not extend to temporary loans.
the last public offering of bonds by the
Common- even some of
warranted that the State Treasurer
has succeeded in obtaining as good results at prlyate
In
Bile as he might haye obtained at public sale.
January of the present year New York City sold $10,000,000 bonds and could obtain no better rate than
clusion
is
fairly
3*49 per cent.
Massachusetts, the same month, dis-
posed of $3,660,000 bonds, but at what figure Is not
known, the State Treasurer haying refused to glye the
Information eyen to the Leglslatlye Committee which
has had under consideration the bill proylding for
public sales.
This week New York City made another sale ($3,000,000), and had to pay 3*49^ per
cent.
We
think a very strong objection to the policy of
secret bids is found In the fact just mentioned, namely
that no information can be had regarding bond sales
until the appearance of the Treasurer's annual report
the following January.
The Treasurer has been
withholding the price for the protection of the buythe amount of bonds disposed of is
public, so that no knowledge eyen of the
ers; often also
not made
extent of the State's borrowings can be obtained.
Bond houses, as a rule, are ayerse to haying the prices
paid by them for municipal bonds made public.
We
The
was introduced by Senator Andrew J. Peters
and It was favorably reported to the
Senate by the Committee on Banks and Banking on
Thursday of last week with certain slight amendments.
The following is the full text of the bill as amended.
bill
of Boxbury,
AN ACT
Relativb to the Issub of Bonds or Notes by the
Tbeasubbr of the Commonwealth.
Be it enacted by the Senate and House of Kepresentatives in Oenerat
Court assembled, and by the authority of the same, a» follows :
Section l. Whenever any bonds or notes of the Commonwealth*
maturing at a longer time than one year from their date, are to be
Commonwealth shall invite proposals
therefor by public advertisement, by publishing the same at least
ten days before the time for receiving the proposals in not less than
four dally papers published in said Commonwealth, at least one of
which shall be published in the city of Boston, and In not less than
one paper published in the city of New York. Said advertisements
shall state the time and place for opening the proposals in answer to
said advertisements, and shall reserve the right to reject any or all
proposals. Said proposals shall be publicly opened by the Treasurer
of the Commonwealth at the place specified In said advertisements,
and in the presence of those who have made such proposals as may
desire to attend. If no proposal is accepted the whole or any, part of
the loan may be awarded to any person.
Section 2. Every bidder, as a condition precedent to the reception
or consideration of his froposal, shall deposit with the Treasurer of
the Commonwealth a certified check drawn to the order of said Treasurer upon some State or national bank or trust company doing business in this Commonwealth or In the city of New York, or a sum of
money, such check or money to aooompany the proposal, to an
amount to be fixed by the Treasiu-er, not to exceed 2^11 per centum of
the amount proposed.
Section 3. This Act shall take efl'ect upon its passage.
Issued, the Treasurer of the
municipal bonds not to state the price at which their
purchase was made, but of course haye had to refuse
merely provides that
whenever bonds or notes are Issued running for longer
than a year the Treasurer must Invite proposals by
public advertisement for the same. The proposals
are to be opened publicly, in the presence of those
sending In bids. The right Is reserved to the Treas-
the request.
urer to reject any or
ourselyes haye frequently been requested by buyers of
We
haye been thus at pains to set out the course of
the Treasurer in order that It may be clearly seen
that the proposed Act does not imply any reflection
upon him. He has been plain and straightforward in
his dealings and he has succeeded in obtaining good
results.
Nevertheless,
public sales in Goyernment
affairs commend themselyes to us, while private sales
do not. Besides the reasons already given in favor of
open bidding, others can be adduced. Mr. Bradford
has been remarkably efficient, but can the same
qualities always be counted upon In incumbents of the
office ? That is the consideration that must always govern when devising regulations for the conduct of pub-
Then
there are certain temptations connected with private sales to which a public official
lic affairs.
It will be seen that
the
bill
and if no bid Is
accepted he Is at liberty to sell the bonds privately.
The only point we have seen urged against public
sales has been the suggestion that bogus bids might
be sent in.
all
proposals,
As, however, the second section of the
proposed Act requires a deposit on the part of bidders
to an amount to be fixed by the Treasurer, but which
may be as high as 2^ per cent of the amount of bonds
bid for, we should think there was little likelihood of
trouble on that score.
ITEMS ABOUT BANKS BANKERS AND TRUST GO'S.
—The public sales of bank stocks this week
shares, of
which 87 shares were
aggregate 188
sold at the Stock
and 46 shares at auction. The transactions
pany stocks were limited to a sale at auction
Exchange
oom-
in trast
of one lot of
Mar.
THE CHRONICLE.
26, 1904.
|
twelve shares. No dealings in either bank or trnst company
shares have been reported from the " cnrb " market.
Bharet
Bakks— ATew York.
Price.
*40 city Bank, National
265
'47 Commerce, National Bank of.. 204
1 First National Bank
585
12 Merchants' Exchange Nat. Bk. 170'« -175
lONewYork, N. B. A., Bankof... 288i«
16 N. Y. Nat. Exchange Bank ..., 200
8 Shoe & Leather Bank, Nat
140
Trust Compakiks— iVew York.
12 Metropolitan Trast Co
606
*
Latt preniotit tale.
Mar. 1904— 270
Mar. 1904- 204
Feb.
1904— 620
Nov. 1908—
Mar. 1904—
Aug. 1903—
17038
280
327
June 1903— 176
Mar. 1904— 610
Sold at the Stock Exchange.
1201
undivided profits have increased to $589,200 and total re
sources to $4,994,900. The West Side Bank was incorporated
in 1869 and has $200,000 capital stock.
It is managed by
Christian F. Tietjen, President; Frederick K. Keller, VicePresident; Charles Rohe, Second Vice-President; Theodore MBertine, Third Vice President Walter Westervelt, Cashier
;
and Frederick L. Williams, Assistant Cashier.
—Howard
Lapsley
&
Co., bankers
moved from Exchange Court
and brokers, have reBroad
to the Mills Buillding, 15
Street.
—The Governing Committee
of
the
Exchange on "Wednesday voted
to
close the
New York
Stock
—A new bank for Staten Island to succeed the Bank of
Exchange on Staten
Island,which, it will be remembered, suspended some
Good Friday, April 1, but not on the Saturday following.
time ago, is being organized. The name of the new instituThe New York Cotton Exchange and the New York Coffee
tion is to be the Richmond Borough National Bank and its
Exchange will be closed on both of these days,
capital $100,000. The new bank will for the present occupy
—The
charter
& Iron National
Bank for a the old quarters of the Bank of Staten Island. "It is the
The bank's ofiSces intention of the new bank to assist the customers of the
expected, on the 4th of April. The or- defunct Bank of Staten Island by making suitable advances
application of the Coal
was granted on Wednesday
last.
will be opened, it is
ganization committee are Charles T. Barney, W. Q. Besler
(Vice-President of the Jersey Central), D. G. Boissevain,
Leopold Wallach and A. A. Lisman. The capital and surplus
aggregate $500,000.
—The
ment
Equitable Trust Co. of this city has prepared a stateof its condition under date of March 21, and this shows
notable growth since the date of the statement for Dec, 31
1903. In less than three months the deposits have grown
from $23,302,828 to $28,710,031— a gain of considerably over
Total resources during the same period have
$6,000,000.
to the depositors, receiving as collateral an assignment of
their claims against the old institution."
Messrs. J. W.
Place & Co., bankers, of 67 Wall Street, New York, have
agreed te take all of the stock not otherwise subscribed for.
The following gentlemen have consented to act as the first
board of directors if elected: Judge Geo. W. Stake, John
Bardes, Benjamin Brown, C. F. Wigand, Charles Beinert,
George Seeber, William Schmidt, Max Osterberg, Gilbert 8.
Barnes. A. C. Brown, B. Williams, Cornelius S. Kolff, F. A.
Verdon, O. A. Kruger, W. T. Holt, Josiah W. Place and
Alfred B. Potterton.
from $34,650,430 to $41,258,839. The surplus, it will be
was recently increased from $8,500,000 to $9,000,000.
Mr. Francis R. Fithian has resigned as President of the
Undivided profits on March 21 were $229,219, while the capi- Security Trust Company of Camden, N. J., his resignation
tal remains at $3,000,000.
The institution is oflSoered by to take effect on March 31. Mr. Fithian will be succeeded
Alvin W. Krech, President James H. Hyde and L. L. Gil- by Mr. Joshaa E. Borton.
lespie, Vice-Presidents
F. W. PuUe, Secretary and Treas—The Boylston National Bank of Boston on Monday reurer
Lyman Rhoades Jr., Assistant Secretary, and H. M. moved to its new offices at Bedford and Chauncy streets.
Walker, Assistant Treasurer.
The new quarters, it is stated, have been fitted up in an ele—Messrs. Harvey Fisk & Sons, 81 Nassau Street, will oc. gant manner for the accommodation of the customers of the
cupy their handsome banking house now building at 68 and institution.
64 Cedar Street when it is completed next fall. The com—Mr. Joseph Addison Carter, President of the First Napany's new home will be entirely of white marble, six stories tional Bankof Chicopee, Mass., died on Sunday last at the
in height and of fireproof and steel construction through- age of 68 of Bright's disease. Mr. Carter was also for over
out.
20 years a member of the Finance Committee of the.Chicopee
—The Guardian Trust Co., 170 Broadway, was lately des- Savings Bank.
ignated by the courts and the banking department to act as a
—At the regular stated meeting of the directors of the
legal depository for court and trust funds and the reserves Farmers' & Mechanics' National Bank, Philadelphia, held
of State banks. The company has made a substantial ad- on the 22d, Mr. Henry B, Bartow was unanimously elected
vance in business and deposits since the first of the year. Its Cashier. Mr. Bartow succeeds Mr. Howard W. Lewis, who
present executive, Mr. Frank W. Woolworth, the founder of became President when Mr. Henry C. Stroup resigned the
the well-known five and ten- cent stores throughout the Presidency after a half century's connection in one capacity
United States, was elected President of the institution in or another with the Farmers' & Mechanics' Bank.
July 1903 and re-elected on January Ist last. Messrs. George
—The German National Bank of Pittsburgh on March 17
W. Fairchild, Herbert H. Swasey and R. Ross Appleton are declared a quarterly dividend of 2% per cent payable April
Vice-Presidents. Mr. Lathrop C. Haynes is Secretary and 1 the payment period having been changed from semi-annuMr, J. Frank Chandler, Assistant Secretary.
al to quarterly.
Last January a semi-annual payment of 5
The newly consolidated Empire State Trust Company, per cent was made, but previously the rate had been only 6
succeeding the Mc Vickar Realty Trust Company, 24 Nassau per cent per annum.
St., and the old Empire State Trust Co., 88 Wall St., will reAt a meeting of the depositors of the State Bank of Pittsmove on April 18th to permanent offices on the ground floor burgh, which suspended a short time ago, it was decided to
of The 42 Broadway Building. The new institution will await the report of Receiver John F. Steel before bringing
maintain the former branch offices of the Mc Vickar Realty suit in the courts for their claims. A depositor's committee
Trust Company at 537 Fifth Avenue, 450 Columbus Avenue has been appointed which consists of Messrs. Peter Zern,
and 242 East Houston Street. The officials and controlling George Kurtz, John H. Armstrong, Henry Meyer, Frank
interests in the consolidated institution have recently formed Donitelli, Ross Evans, W. J. Sngling, Dr. Caleb Blyholder
the Mo Vickar, Gaillard Realty Company, a corporation to and Henry Terheyden.
take over the old Mc Vickar Realty Trust Company's extenAt a recent joint meeting of the stockholders of the two
sive real estate and mortgage business and perpetuate its institutions, the merger of the Union National and Colonial
name. The Mo Vickar, Gaillard Realty Company will also National banks of Cleveland under the name of the first
have its offices at 42 Broadway. The officers of the affiiliated mentioned was formally ratified, Full details of the consoliconcern will be: H. W. Mc Vickar, President; W. E, G. dation were given in our issue of January 16. The late
Gaillard, Vice-President; E. D, Mc Greal, Treasurer, and Senator Marcus A. Hanna had been President of the Union
Livingston Wetmore, Secretary.
National for a good many years, and was to have been the
—The West Side Bank, 485 and 487 Eighth Avenue, shows President of the consolidated institution. E. H. Bourne
risen
—
recalled,
;
;
;
—
—
—
continued prosperity in its recent statement to the State
Superintendent of Banking on the 3rd inst. This West Side
institution is admirably situated on Eighth Avenue, in the
midst of the busy 34th Street district, in close proximity to
the new Pennsylvania terminal station about to be built. On
March 8 the bank reported deposits amounting to $4,255,700,
a gain of over $376,500 since August 25th. Surplus and
(formerly Vice-President) has
—The Lake
Shore Banking
now
been
made
& Trust Co.
President.
of Cleveland has
removed to its attractive new quarters at the comer of
Willson Avenue and St. Clair Street. The new building is
an imposing edifice of red pressed brick and terra cotta and
constructed in the old colonial style of architecture. The
new home of the bank consists of only one story and baseis
,
THE CHRONICLE.
1202
I
Vol. Lxxviii.
The interior been entirely earned in its business, no part having been
marble and the woodwork of a beautiful paid in by issue of new stock or otherwise. The institution
The Lake Shore Banking & Trust has has paid $168,000 dividends upon its stock since its organizastyle of mahogany.
a capital of |J00,000. surplus and undivided profits of $87,613 tion eleven years ago. The favorable results obtained are
and deposit* of about $1,500,000. The oflBcers are: President, all the more noteworthy as the bank does not allow interest
John M. Grundy; Vice-Presidents, Harley B. Gibbs and H. on either individual or bank balances nor upon any form
W. King; Secretary, Walter S, Bowler; Treasurer, J.Horace of deposit. The capital is $125,000 and deposits about $1,-
m«nt and
Is
occnpied solely by the institution.
1b of white Italian
400,000, while total resources
Jones.
—Mr.
J. B.
Larzelere has been elected Assistant Cashier of
Bank of Zanesville, Ohio, to succeed Mr.
the First National
C. P. Worrell.
Virginia Hot Springs, Charles Conn—On the 20th
selman, a prominent Board of Trade and stock broker of
Chicago, died after a short illness. The firm of Charles
Counselman & Co. is one of the leading grain and stock
oommiesion houses in Chicago, and owns some of the largest
el evators in that city.
Mr. Counselman was born in Baltilust., at
more
in 1850.
—Henry
D. Sturtevant
the sole surviving partner of the
Chicago banking and commission house of Charles Counselman Company, and will continue the business under the
&
is
now
reach the figure of $1,850,President of the institution
Mr. Jno. S. Armstrong is
and Mr. Andrew Moreland Is Cashier.
000.
— The Commercial National
Bank of Houston, Texas, is
handsome new bank building on one of the most
prominent corners in that city. The structure is to be six
stories in height, built entirely of stone and gray brick, with
granite trimmings. The bank is to occupy the ground floor,
which is to be fitted up in the most up-to-date manner,
erecting a
marble being extensively used with solid bronze grill work.
This institution has made decided progress during the past
few years and in the new home will have ample space to take
care of the enlarged business.
—The National Bank of Commerce of
San Antonio, Texas,
institution, made a very good showing in its report to
old firm name Mr. Counselman having provided in his will
the Comptroller of the Currency under date of January 22d.
for such continuance.
—Mr. Burton Thorns, who has been with the Chicago The bank commenced business on October 8th 1903 and
January 22d deposits were over half a million dollars—
banking and investment firm of Peabody, Honghteling & Co.
$544,876. The bank is an up-to-date institution and equipped
since 1889, and for several years has been General Manager
with fire and burglar-proof safes and vaults and safety deof their office, has been admitted to partnership. Mr.
posit boxes. The capital is $300,000, while resources aggreThome's personal acquaintance is large and influential, and
gate $908,631. The institution is under the management of
he is regarded as an authority on real estate values and mortgage securities. The bond department of this firm under the Mr. J. P. Barclay as President.
—The stockholders of the First National Bank of Los Anmanagement of Mr. Alex. Smith has during the two years
geles
will vote at a special meeting on April 14 upon a proposince it was established made rapid and substantial progress.
Several important issues of corporation and industrial bonds sition to increase the capital from $400,000 to $500,000.
have been handled by this house with marked success, and
The Orange Growers' National Bank of Riverside, Cal.
they have had the good fortune (or the sagacity, rather,) of closed its doors on Tuesday, owing to a "run" on the instituoffering no investment securities which have disappointed tion caused by the alleged defalcation, it is stated, of about
the investor.
$100,000 by H, T. Hays, the Cashier. Hays was arrested on
Thursday,
charged with embezzlement. President Rouse is
new bank, to be known as the Central Bank of Hyde
Park, is projected in Chicago, to be located in the vicinity of reported as saying that the bank is perfectly solvent and that
55th Street and Washington Avenue. The real estate firm depositors will be paid in full. On Wednesday the Compof Wm. K. Young & Bro. is mentioned as prominent in the troller of the Currency appointed Mr. John W. Wilson re-
—
a new
—
—A
organization.
dividend of the Federal Trust & Savings Bank
of Chicago was declared at the last meeting of the board of
directors. The dividend was 1 per cent quarterly, putting
the stock on a 4-per-cent basis. The undivided profits of the
bank are $286,000 and by April 1 they are expected to be
From this amount approximately $23,895 will be
$295,000.
charged off for fixtures. Deposits are in excess of $6,000,000.
So soon as the surplus (which with undivided profits now
approximates $750,000) reaches $1,000,000, a higher dividend
rate may be expected.
—The
initial
—On
Thursday last Jesse Spalding, a prominent Chicago
pioneer and capitalist, died at his home after a prolonged ill.
nesa. His age was 67. He was a director and large stockholder in the Commercial National Bank, the Hibernian
Banking Association, the Chicago Edison Company and the
Chicago Union Traction Company. In 1899 and 1900 he was
President of the last-named company. He was also a member of the Chicago local board of the American Surety Company of New York and identified with many other business
interests.
His wealth was acquired principally in the lumber business and he was prominent in municipal and local
In 1883 he was appointed Collector of the
Port by President Arthur and in 1889 a Commissioner for
the Union Pacific Railroad by President Harrison.
political affairs.
—The National Exchange Bank of Augusta, Ga., will on
April 2 increase its capital from $300,000 to $400,000 by the
Bale of 1,000 shares of new stock at $120 per share.
The pre-
mium
of $20,000 realized from the sale will be added to the
surplus, increasing the amount from $80,000 to $100,000.
—At the recent annual
meeting of the Atlantic National
of Wilmington, N. C, President Armstrong submitted
a report for the calendar year showing profits of $49,092, or
practically 40 per cent on the capital. Stockholders received
Bank
in dividends during the year one per cent each month, or
$15,Almost $38,000 was passed to credit of profit and loss
000.
account. Aggregate surplus ($306,000) stated to be as large
as that of all the other Wilmington banks combined,
has
ceiver of the institution.
—The Bank
North America has opened a branch
at Bobcaygeon, Ontario, under the temporary management
of Mr. Q. D. Watt.
of British
New Books.— Messrs. D. Appleton & Company of this city
announce that another new book in the "Appleton Business
Series," entitled "Modern Advertising," by Earnest Elmo
Calkins and Ralph Hold en of New York, will be ready for
publication in May. This will be the eighth volume to appear in the publisher's "Business Series." "Modem Adverwe
are informed, carefully considers the entire field
of general advertising in newspapers, periodicals, and also in
public places. The authors are advertisers of large experience. The work is to be attractively illustrated. The publishers will follow up "Modern Advertising" with a volume
on "Modern Accounting," by Professor Henry R. Hatfield of
the University of Chicago, which they now have in preparation.
The corporate consolidations and expansion of com>
mercial activity in late years have created a want for a firstclass book devoted to this subject. Professor Hatfield's work
will deal mainly with the application of the principles of accounting to modern business methods.
tising,"
From
own oorre8ponaent.J
London. Saturday, March 12, 1904.
Bankers, brokers and merchants all combine in saying that
they never remember so utterly lifeless a week as the one
just drawing to a close. Even immediately after the Baring
crisis, they say, stagnation was not so great.
There was
more nervousness then, but also there was more possibility
of dealing. The present stagnation is accounted for partly
by the heavy losses that have been experienced in Paris and
Berlin. In Paris a very large number had to be helped by
powerful institutions, which took over immense masses of
stock. Still, there have been no failures.
In Berlin, ther
I
oiur
Mab.
THE CHEONICLE.
26, 1904. J
have been several failures, and there have been suicides also,
while powerful institutions have had to help very many who
were too deeply involved. Moreover, both Paris and Berlin are overloaded with Russian securities of all kinds.
Another thing which has been checking business has been
the long delay in authorizing the import of Chinese
labor into South Africa. Lord Milner has been using all his
influence to get the authorization and the whole of the
is eager for it.
Even bodies like the Chamber of
Commerce, which were against Chinese labor a year ago, are
Transvaal
now clamoring
for it. It is true that the production of gold
over the world is increasing very rapidly, that the Bank
of England is every week adding to its reserve, that the gold
stock here is very strong, and that everything points to a
long continuance of cheap money. But the influence of all
that is neutralized by the fact that there are hundreds of
millions sterling of British money invested in South African
gold properties which cannot be, worked, owing to the scarcity
of labor. So much money is tied up in this way that very
many are incapable of buying, however tempting prices may
become. Owing to this, the public cannot be induced either
to buy in the market or to subscribe for new shares. And,
consequently, underwriters find that they have to take up
nearly all the shares which they underwrite, In these ways
the lock-up in South Africa is crippling the market and consequently no great activity can be looked for until there is a
reasonable prospect that the supply of labor will be adequate,
One other influence Is having an effect, namely, the expectation that both belligerents will soon have to borrow.
This week Japan has been feeling the pulse of the London
market to ascertain whether a loan could be raised. At
present it seems to be thought that she is not offering terms
good enough. Clearly if the war goes on she will have to
pay much higher rates of interest than apparently she is
willing to pay at present. Unless, therefore, she Improves
her terms it is not likely for the moment that she will be
able to borrow much. Russia felt the pulse of the Paris
market a week or two ago, but found the condition of things
all
J
similar to what Japan is finding in London at present.
Russia's terms were not considered good enough. For the
moment, therefore, it seems probable that the loan will have
to be postponed.
Money
is
becoming very plentiful and cheap.
The revenue
collections are not as large as was anticipated when the budget
was drawn up. Therefore, not as much money is being
1203
&
Messrs. Pixley
10, 1904
Abell write as follows under date of
March
Oold—The Bank taai bought darlni; the week £310,000, and of this
A281,000 la ia bars. The balance ot the arrivals has been taken (or
India, and some small amoants have been sent to the Continent,
£245,000 has been withdrawn for South Amprloa. For the week— A.rrlvals: South Africa, £151,000; Australia. £27,000; Bombay, £127,000; West Afrloa, £15,000; total, £320,000. Shipments; Bombay,
£96,750. For month of February— Arrivals: Germany, £147,000;
France, £8,000; South Africa, £1,158,000; East Indies, £720,000;
South America, £72,000. Shipments: France, £105,000; East Indies,
£513,000; Egypt, £600,000; South America. £1.991,000.
Silver— Fluctuations have again been small. The Indian Bazaar has
been the best buyer and has taken large amounts during the week.
After rising to ZeUied. we fell yesterday to 267i8d., chiefly on Continental sale?; to-day we close Arm at the price with a better inquiry.
America has been only a moderate seller. The Indian price is Rb. 6714.
Forward silver is quoted 38l. under cash. For the week— Arrivals:
New York, £190,00u; Australia. £5.000; total, £195,000. Shipments:
Bombay, £182,500. For month of February- Arrivals: France,
£24,000; U. 8. A., £1.034,000; East Indies. £223.000. Shipments:
France, £51,000; Bussla, £18,000; U. 8. A., £9,000; East Indies.
£1,213,000; China, £105,000.
Mexican Dollars- These coin are again nominal and are quoted today ^d. under Bllver. £25,000 has been shipped to Bombay.
The quotations for bullion are reported as follows:
Gold.
CiondOH Standard
.
Mar.
Meh.
8ILVEB.
10.
3.
London Standard
a.
Bar gold, fine
oz
n. 8. gold ooin...oz
Qerm'ngoIdooln.OB
Frenoh gold ooln.o
Japanese yen. ...01
d.
(.
Mar. Meh.
10.
.
3
a.
d.
B&7Bilyer,fin«...os 267i8 2608
Do 2 mo. dell-very 26ii8 2614
76 514 *76 514 Bar silver, contaln'g
*76 6 "76 5
do 6 grs.gold.OE. 26iBie 27 >«
•76 4 *76 4
do 4 grB.gold.os, 26 \ 26i6,e
do 8grB.gold.os. 268,6 2e\
77
76
9
4
9
76 4
77
281116
oz. 28i«
Oake Bllver..
Mexican dollarB..o>. 281316 25'8
'Nominal.
The following Shows the imports of cereal produce into
the Qnited
season
Kingdom during the
twenty-seven weeks of the
compared with previous seasons:
IMPOBTS.
1903-4
1908-3.
Imp'tB Of -Wheat CWt.46,015,76l 41.579,741
Barley
20,474.768 17,691,561
JtktB..^
8,726,198
8.180,866
Peas..,..
1,318,989
1,067,878
Beans
1,097,327
1,809,888
Indian corn
27,787,797 20,085,311
^......12,563,074 10,104,128
flour
1900-01.
1901-2.
32,477,400 35,313,400
15,374,300 13,547,400
9,754,400 11,717,800
1,510,730
1,122,000
968,840
1,047,700
24,865,200 30,166,200
11,486,900 11,586,800
Supplies available for consumption (exclusive of stock
an September 1):
1900-1.
1902-8.
1901-2.
1903-4
»71ieatlmported.owt.46,016,761 41,579,741 32,477,400 85,818,400
12,563,074 10,104,128 11,486,900 11,855,800
(mports otfloar.
ialesofhoine-grown.10.820,684 14.047,707 16.946,888 14,423,108
Total....— ..,-.. 69,389.819 65,731,876 60.840.688 61,292,308
4ver.prloewheat,week.28s. 8d.
Average price, season. 878. Od.
26b.
25s.
8d.
ed.
25b. lid.
S7s. 3d.
S7S. Od.
26b. 9d.
The following shows the quantities Of wheat, flour and
maize afloat to the Ucited Kingdom
1901-2.
1902-3.
ThUweek. La$tioeeit.
8,900,000
2,420,000
Qts... 3.275,000 3,010,000
taken out of the open market into the Bank of England as OVheat
260.000
260,000
205,000
235,000
rionr, equal to QfB.,.
370.00
580.000
585.000
635,000
was expected. On the other hand, the Government has been «»l«e...D.'<i..
paying off very considerable amounts of Treasury bills. Add
Enfflish Financial Bfarkets—Per CaUe.
to this that the demand for gold for the Continent has
The daily closing quotations for securities, etc. at London
largely fallen off, that therefore the Bank of England has are reported by cable as follows for the week ending Mar. 26:
been able to obtain a good deal of the gold offering in the
Fri.
Wed. Thun.
Tue$.
Hon.
8aU
liOBDOH.
open market; that further amounts are on the way, and that
26I4
251316 a5"i.
25%
26
a considerable proportion of these are likely to go into the lUver, per ounoe
26
d.
851518 85i&ie 85is,a
85i5,e 86%
p.ots. 86>fl
0onsols.,ne'w.2)s
market; that, furthermore, of the large sums in gold required
86I16
86
86
86
86Bb
866,8
For aooonnt...
by Argentina, a portion is now being sent from New York; rr'ohrentea(lnPanB)tr. 9570 96'Ou 95-87% 96-87% 95-82% 95-72%
3%
3%
3%
S>«
%
Sifl
inaoonda Mining
another portion is being sent from Auatralia and South ktcb.Top. A Banta Ve.. 69
73
72%
70%
70%
70%
92i«
93
92%
92%
93%
9214
Preferred
Africa, and it becomes plain that there will be a great reduc82%
80%
81
82%
81%
Saltlmore A Ohio ...... 79
91i«
92
91
92
91%
91ifl
.........
tion in the amounts which a little while ago it was expected
Preferred
117% 117% 118% 118% 117%
Janadlan Paoiflo........ 116
would have to be sent from London, The probability ap- CJheeapeakeA
SS-Te
32
32
33%
32%
Ohio.... 31%
16
16
15%
16
16
pears to be, therefore, that we are about to see a period of Ohioa. Great 'Weatem.. 15 1« 149
148
150% 150% 147%
Ohio. Mil. A Bt. Paul... 146>s
21
31
21%
21%
21
abundant money. Naturally, that will tend to improve 0«n. A Bio Or., com.... 20
71
71%
71
70%
71%
do Preferred. 69 \
Do
prices on the Stock Exchange.
28%
27%
25%
28%
26%
Crie, common .......... 26)fl
66%
65%
66%
66
65%
1st preferred ......... 65>s
The Indian Council offered for tender on Wednesday 60
43%
44%
42%
43%
43
Sd preferred.... ...... 42
133
132%
133
132
lacks of its drafts, and the applications exceeded 347 lacs at ClIlnolB Central
182>a
1311s
109% 108
107% 109
103
NashylUe.. 106 »«
prices ranging from Is, 4 l-32d. to Is, 4 8-32d. per rupee. Louisville A
12
11%
12
12
12
11>9
Mexican Central
19
18%
19
18%
19
18
Applicants for bills at Is, 4 l-16d, and for telegraphic trans- >(o. Kan. A Tex., com.. 89i«
89%
40%
401^
39%
40%
Preferred
fers at Is. 4 3 32d. were allotted about 88 per cent of the National RB. of Mex.—
38i«
40
39ifl
89%
89
38%
preferred
amounts applied for. Later in the day the Council sold a ir.iBt
120
119%
119% ISO
120
T. Oent'l A Hudson.. 119
22i«
2II4
22%
22
22%
21%
very small amount in bills at Is. 4 8-82d.
. T. Ontario A West'n 681a
60%
59%
60%
sg^B
ortolk A Western
Bank
of
The following return shows the position of the
91%
91>4
91%
91%
pref. 91
do
Do
100%
93
95% 101% 101
Bngland,the Bank rate of discount, the price of consols, Ac. BTorthem Beourities.... 92
60-r8
89''8
61
60
60%
59>fl
Pennsylvania
23
22%
22%
22%
23
21%
compared with the last three years:
Phila. *Bead
,
1904.
McK
9.
S
OlWlatlOB
27,706.528
Pablle dCPOlltt.
Otkar depoiltl
12..S03,74t)
1908.
Mch.
XI.
1
28,928.880
ia.87e.983
40.5U6.878
1908.
Uch. la.
1
2a682,805
18,987,82»
38.»43.1o7
89,939.2H6
i«,ii74.88«
i4,«fiH,8i8
i«,224,bR4
aoTernment.taonrltiei
88,198.066
Othtr •Mnrlllei
2&,281.15B
82,620.888
86,861,814
B«MrT«Of noteiandOOln
28,lC2,«e3
26,687,695
87,849,619
Coin AbnlUon. both departlD'tB 86,408,888
86.741,426
466-16
Prop. reierT«tolUbintlei.p.c. 49 16-18
47 1-16
8
iMik rats
4
4
peroant.
941-18
01516
Oonaoli.SMporoant
85 7-16
ae^d.
bllrar.....".. ........
26 7-i6d.
22Md.
lAvlns-Houieratarn
165.676,000 164,867,000 170.228,UOO
1901.
Mch.
«
18.
28.464,728
12.276,415
38,082.868
i2.806,28o
8d,^5l,4«a
26,730,207
86,41B.«32
60«
„. :..
„*«5-i5
8t?-„'.''2^n
14S,97B.000
*Phila. A Bead.,lBt pref.
Ready 8d pref.
*Phlla.
Southern Paciflo
A
40>4
30>fl
40%
80%
40%
40%
40%
31
31
81
47%
61%
22%
87%
50%
23%
87%
84%
94%
11%
46«8
48i«
lonth'n Railway, com..
acs
2l''8
22
Preferred^............
(Jnion Paolflc
86ifl
87
77^8
86%
78%
Preferred.
U. S. Bteel Corp., com..
pref
do
Do
~.
Vabash
Do preferred.. ...
89>fl
79%
90%
12%
60%
Do
Deb. "B".-...
"""Price per share.
llOg
69 1«
I9I4
86>«
62
20
8S
68
90
11%
58%
20
37%
62%
86
93
ll-'a
59%
19%
37%
62%
40%
30%
49%
31%
87
82%
92%
11%
60
20
59
88%
37
63
64
19%
9
THE CHRONICLE.
1-J04
tL'omiucvcialaurt iHisccUaucousilcius
National Bawkb.— The following information regarding
is from the Treasury Department.
national banks
NATIONAL BAIfSnOROANIZBD.
Certificates latnied
March
7
to
March
IS, 1904.
NatloDrtl Bank of Clinton, Minnesota. Capital,
$i5.0<^)O. J. L. KrlcliBon. l*T«»ldent; John Brandt, Vice Prestdent; J. 11. Eriokaon. Cashier; A. F. Warner, Assletant
Canhler.
7,ie»—The First National Bank of Westhopf, North Dakota. Capital,
f25,OiiO
GeorifH SuntierR, Hresldent; P. 8. HlUeboe, VloePTPtldent; \V. J Cooper, ('ashler.
7,163— The Klrst National Bank of Mena. Arkansas. Capital, f ,50,000.
('. A. s«mlth.
President: O. H. Hopkins and J. P. Hayworth,
Vice-Presidents; L C. Aornman. Cashier.
7,184-The C'ltk-.ens" National Bank of Palntsvllle, Kentiiokv. Capital,
$2.5,000. H. S. Howes, President; Jeeae Stafford, Vice Preslilf rt; J«nit>s F Bailey. Cashier.
Capital,
7, 185-The Western National Bank of Port: Worth. Texas.
<«3Oi>,0O<\
H. E.ldleman, President; Cio»*ro Smith, VicePresident; E. M. L»Dhi«m, Cashier; Claud MoOanley and W.
J. Eildleman. Assistant Cashiers.
7,16*— The First National Bank of Wyndmere, North Dakota. Capital,
*25.0O0. Geo. C. Ottls. President; Donald Wright, VloePresldent; J. MoQann, Cashier.
7,181— Tho
.
KIrtt
W
'Vol. Lxxviii.
The
receipts of flour and grain at the seaboard ports for
March 19, 1904, follow:
»ltUT.
>v««ai.
Cff«,
0«tl,
B«rU|,
mt**i9tmt—
^hU
k»>k
^ur'
*Upt
the week ended
N«wTork
Bof 'on,..
Montreal..
m
of Contpany.
\C*nt
PmyabU
Rook Island
1
Pacltio Ry
Couconl & Montreal, all classes (qnar.)
yitohtinrff', pref. (quar.)
Chle.
ife
Genesee & Wyoming
Orana Trunk, guar
do
istpret
do
2d pref
do
8d pref
N. Y. Central & Hndson River (qnar
Norfolk <fe Sonthern (qnar
do
do
(extra)
Old Colony (qnar.)
Pitts. Ft. W. <& Chic, spec. guar, (qn
TJtloaA Black River, guar
2H)
2
l"*
)
1
1
1
W
1»4
)
Cln. Newport <& Cov. L. & Tr., pf. (qu.)
Cleveland Electric Ry. (qnar.)
Falrh. & West v.. New Haven (qnar.).
Maiicliester (N.H.) Tr., L.
Pow. (qn.)
8to Paolo (Brazil) Tram L. <6 P. (qn.)
Savannah Electric, pref
Syracuse RapH Transit, pref (qnar.)..
&
,
Washington Water Pow., Spokane (qu
Banks.
Chatham National (quar.)
Commerce, Nat. Bank of (qnar.)
First National, Brooklyn (quar.)
)
Garfield National (quar )
Liberty National (guar.)
Manufacturers' Nat,, Brooklyn (quar.)
Park, National (quar.)
Blverslde fquar.)
Tnut Companies.
Brooklyn, Brooklyn (quar.)
Central (qnar.)
Illtae«llane«aa.
Chicle, com. (monthly)
do
pret (quar.)
American Locomotive, pref. (riuar.)...
American Shipbuilding, pref. (quar.)..
Bell Telephone, Philadelphia (quar.)...
Central <fe South Amer. Teleg. (quar.).
Distillers' Securities Corp'n (quar.)
Klec. Storage Battery, com.<& pf.(quar.)
General Electric (quar.)
Great Western Cereal, pref. (quar.)
Hall Signal, com. (quar.)
do
do
pref. (annual)
Intemat. Smokeless P. & Ch .comCqti.)
Manufacturers' Light & Heat, (qoar.)
Mexican Telegraph (quar )
National Biscuit, com. (quar.)
New Kng. Telep. & Teleg. (quar.)
N. Y. Dock, pref. (quar.)
Nova
Scotia Steel
do
Westingh.
do
to
Holders of rec.
Holders of reo.
Mar 21
to
Apr
Mar
Mar
Apr
6
1
1
1
l,7Pfl
ip.yso
32.008
Vawrort News..
laiTeitoD
"•irtUnd. Me...
16 Holders of reo.
16 Holders of reo.
6 Mar 25
to
1 Mar
6
to
16 Holders of rec.
Holders of rec.
Mar 18
to
Mar 30
to
Holders of reo.
Mar 30
Mar 31
Apr 4
Apr 3
Apr 1*
Mar 21
Apr 1
Mar 31
Mat 21
<& Coal,
do
com
'.'.'.'.
pref.
Elec.<fe Mfg.,all classes (qu.)
Transfer books not to he
Apr
Apr
l\ Apr
I'a Apr
I'a Apr
3
Apr
Apr
1
l»s Apr
1>8
j
1
4
2
4
S
4
3
4
2
15
6
2Hi
1
3
Apr
Apr
Apr
Mar
Apr
Apr
Apr
Apr
Mar 26
Mar 20
Mar 31
Apr 1
Apr
Apr
m
1
1
I
1
1
1
to
to
Mar 24
88.2ft7
«<5,76l
«'^,668
15,800
3,760
44.002
8,00U
44.(162
ir,3,0P0
86.006
67,000
180.B97
lOP.OOO
118.285
83,800
> • •
.
fl4.400
06.176
1.800
86.874
209,270
•
Port Arthur....
John. M. B..
St.
Total w«*k...».^
W«ekl008
510.528
684,616
„, 462.861
1,477.911
"2.007
1.000
38.107
20,016
1,068,948
8,968,006
89,268
163,361
1,108,458
1.851.728
Total receipts at porta from Jan. 1 to
follows for four years:
1904.
1908.
Btttipt $f—
rionr
"iaai
"
49,862
New
* Receipts do not Include eraln passing throngh
ports on through bills of lading.
6,888
109,826
Orleans for foreign
March
compare as
19
1908.
1001.
4,628,849
bbll.
4,888.726
4,686,980
4,604,129
bnik.
17.918,116
88,461.320
11.156.793
1.480.489
610,003
15.230.410
5,338,311
•'
11.968.994
20.776.678
8.112,664
1,063,100
261,450
1.811,161
319,701
98,191,229
48,081,58;
16,006,20?
1.616,089
681,286
"
42,181,780
67,676,721
90,811,616
89,426,812
"
•
••
8.61'i,088
The exports from the several seaboard ports for the week
ending March 19, 1904, are shown in the annexed statement
Otm,
Wkmt,
Mxporti from- j>u«>
M«W York
108.443
ftuik
422.728
156,189
86,176
11R,'^86
BoitOD
rortland,
M«.
fklladdpkla
311,572
420,864
347.689
179.997
266.671
82,800
176,000
JalTMtOn
48,000
Mobile.
Flov/r.
bblt.
128.019
10.477
28,623
88.800
39.420
12,205
38.003
4t.
Jobn.N.B.
OaU.
R\
Rm*,
Pimi,
bush.
36,124
140
19.85^
hu§k.
hut
feufk
Bar lev.
6.226
.
16.037
182,107
1,000
""l30
.*..*...'.
'.'.'.'.'.'.'.'.
95.496
82,163
9,776
213
PonArtbnr
1,200
85,274
20,016
316,183
331.099
107.862
329,416
209,270
Total W««k.. 632,889 9,856,630
Sametlma'OS..l,016,9l5 4,118,127
to
Mar 31
Holders of reo. Mar 81
1 Mar 26
to
Mar 31
1 Mar 23
to
Mar 31
1 Holders of reo. Mar 31
31
88,107
87,046
Tbe destination of these experts for the week and since
Inly 1, 1»08, Is as below:
nour.
-»
W7»»at.
amtad Kingdom
8,049,681
1,687,165
393,662
234,677
667,839
990,783
128,248
588,359
4.760
815.133 12,061,010
331,699 11.950,397
632.839
1,016.946
184.830
32.017
Jontlnant
«.
Amariaa.
12,663
i. M O.
32,120
V?ait indlas
6,069
r.M.AmColO'l
itkar aonntrlai 46,444
-Oom,-
,
With Sine* July
Week Sine* July
Mx9ort$ for
Mar. 19
m**k and tintt Mar. 19
1. 1903.
1, 1903.
bush.
July 1 to—
boil,
bbli.
busk.
Week Sin*e July
Mar.
19.
butk.
1, 1903.
biM/l.
1.009,846 28,048,175
1,186,865 23,074,447
84,176
186,136
794,436
25,659
188,384
1,414,76»
408.736
1,786
85,834,098
17,971,641
10,020
1
1
Holders
)
Mar
16
M!ar 31 Holders
Apr
Apr
Apr
Apr
Apr
Apr
1»4 Apr
Apr
1"^ Apr
Apr
1
\\ Apr
2
Apr
2
Apr
Apr
Apr
6
»4 Apr
Apr
Apr
1
Apr
11* May
1
Aug
S Apr
2
Apr
21^ Apr
1
1>»
1»<
1
8,81>1
M'tblln..
fawOrlMns..
Mar 31
Apr 11
Apr 11
Mar 16
rfl,5fl7
278,620
441.R10
8P,62S
• >
MWW'rtNtWi
of rec.
to
to
of reo.
820
B0,149
laltlmora
Mar 23
Mar 23
Apr 15 Holders
Apr 11 Apr 1
Apr 11 Apr 1
Apr 1 Holders
Apr 1
Mar 30
600 Apr
4
Guaranty (quar.)
L. I. Loan <fc Trust, Brooklyn (quar.)..
People's. Brooklyn (montluy)
Washington (quar.)
do
6
Railway*.
Boston Snburb:in Electric (qnar.)
American
Apr
Mai- 23
do
do
do
Ncr««>t
of rec. Mar 10
Holders of rec. Mar 20
Mar 27
to
Apr 3
iip.floa
nltlmore
tiekmond
••w Oriesni*.
3atl
3arley
»y«.
Mar 15 Holders
Apr
1
J
1»4 Apr
Apr
6
3
1»4 Apr
1
1
H«jApr
Apr 1
4
Mar 23
2
675.000
987.985
88,.'i88
Total gram
Kallr*a4i d^teaml.
Ashland Coal (6 Iron By. (qaar.)
Boston A Provlilence (qnar.)
Cblcairo Bnrl. <S> Qnlncy SR. (qnar.)...
81!>.8'2B
6.651
Pklladelpkla....
aorn
Books Cloitd.
(Day» InaluHfit.)
i:e.075
11.113
82,772
.,„.
(VHMt
DIVIDBNDS.
17(1.809
«H.7fl7
12,.S00
IJ Holders
1 Holders
1
Mar
27
Apr 16
Mar 27
21 Apr 1
16 Apr 6
16 Apr 6
7 Apr 1
26 Apr 6
1 Mar 27
20
1
of reo. Mar 26
to
Apr 1
of rec. Mar 81*
of rec. Mar 1
of reo. Mar 31
to
to
to
Apr
1
Apr 20
Apr 1
Apr 20
to
to
Apr|l6
to
Apr 15
to
Apr 7
to
Apr 26
to
Mar 31
16 Holders of reo. Mar 24*
1 Mar 30
to
Apr 1
1 Mar 29
to
Apr 1
1 Mar 29
to
Apr 1
20 Holders of rec. Mar 31
20] Holders of rec. Apr 1
14lApr 1
to
Apr 14
16IMar 29
to
Apr 15
16| Holders of rec.
16 Holders of rec.
Apr 1
to
16JApr 1
to
15
lllMar 29
to
Apr
Apr
Apr
Apr
Apr
21
1
6
6
11
Total
Total 1903-08....
—
Breadstnffs Plgrures Brought from Page 1233.
The
statements below are prepared by ns from figures collected
by the New York Produce Exchange. The receipts at
Western lake and river ports for the week ending March 19
and since Aug. 1, for each of the last three years have been:
3,266,680
4,118.127
48,644.28^
46.646,947
The visible supply of grain, comprising the stocks in
granary at the prlnoipa) points of accumulation at lake and
(•aboard ports, March 19, 1904, was as follows:
Wk**t,
OarN,
fcuik.
feusk.
Oatt,
kutk,
896,000
867,000
190,000
23,000
5.009
267,000
^.^^ 676.000
^, 692,000
46.000
.....««
36.000
,.
1.797,000
400,000
375,000
807.000
462.006
817.000
183.000
&8,00«
59,000
iMitarcatnwTork.........
Do
,.
JIvf,
BarUt
hu»k,
hutk.
3,000
818,000
i8<:,ooo
83.000
1.000
168.000
4,000
34,000
'1.006
36.000
286*000
457.*e*0'0
afloat... •««
Boston.
Phlladalphia
Baltimore
Naw Orioant..
iaiToaton
Hontraal
roronto
nflalo
00
,*^
^^
afloat..
Toledo
uo
174,000
691,000
819,o6c
'iKooo
"i,o(ia
Ul.oot
*77,0d0
100.000
11,00*6
*'ii,"oc'o
3,49i',6oo'
3,6i9,00fi
25S,'o'o*6
sos.'ooo
8ii*,6o(i
100,900
409,000
"bsm
afloat.....
Detroit
Do
afloat
>aiaago
Do
2.786.000
afloat
....
4tiwankaa
on
601,000
96,000
8,989,Ouo
\float
Fort WlUlam
Port Arthur
Dnlnth
13.000
2,186,000
167.000
628.0tO
80.000
649.000
8,217,000
93,000
73.000
8.000
1,864 000
13,000
888,'600
64,000
976.000
27,000
47.000
20,000
167.000
285.000
180,000
158.00«
155,000
85.008
17,000
69.000
Mar. 19. 1904. 82,026.000
Mar. 12, 1904. 33,396.000
Mar. 21. 1908. 49.056.000
Mar. 22 liK)2 50.948,000
Mar. 83il90l'...64;714.000
9,511,000
9.867,000
10.637.000
9, 108.000
28,862.000
10.689.000
10,694.000
7.182.000
3,819.000
11.035,000
959.000
3.696,000
3,780,000
1,70^,000
1,760.000
1.914,000
Do
afloat
11404,000
4.!i06,000
afloat.......
„ Do
KaniaaOlty
Paorla
Indlanapolli
in MiiiiHippi Blrar
iBiiakas
laaanalandrlraT.
Total
Total
Total
Total
Total
60,000
1.870.000
8.916.000
Mluiaapolla
at.Loall
closed-
64,219,890
02,369.013
..
l,035,ooo
1,000
1,OS5,000
096,000
8,070.000
1,118.000
—
Aactlon Sales. Among other seonrlties the following
not regularly dealt in at the Board, were recently sold at
auction.
By
50
1
Messrs. Adrian H. Muller
Stochs.
Germania Fire Ins. Co.. 341
Law
170it-175
$2,000 Br'dway Surface RR.
11S%
Ist 5b, 1924
$2,000 West. Marvland RR.,
$60
Oil
Co.
Texas pref
20 Northern Pao. Rv. Co.. 145 13
8 Nat. Shoe &. Leather Bk.l40
12 MerobantB' £zch. Nat.
Bank
10 Westchester
Title
Sloeks.
of
14^ to 14i«
Institute, all
dues paid
7,000 Hoaston
Son:
66 Lawyers' Title Ins. Co. .275
15 N. Y. Nat. Exoh. Bank.. 200
1 First Nat. Bank, N. Y...685
10 Bank of N. Y., N. B. A..288i«
6 OUnton R'alty Co. of N. Y. 10
606
12 Metropolitan Tr. Oo
(Minton Hall Assooiat'n.$53ifl
1 N. Y.
&
A Bronx
A Mort. Quar. Co. 136 ^s
Bon-is.
Potomac Vail. RR. 1st 5s
115
guar., 1941, J&J
J
Mae.
THE CHRONICLE.
26, 1904.]
New York City Clearing House
condition for the week ending March
age of daily results.
We omit
BAifKS.
Capital.
Bauks.— Statement
19, 1904,
of
based on aver-
two ciphers (00) in all cases.
Surplus.
I^ans.
Specie.
Legals.
1205
New York
City. Bo.»ton and Philadelphia Banks.— Below
of the weekly returns of the Clearing House
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.
a
is
summary
We omit two
f
Deposits Re-
Capital &
BANKS Surptus.
Loans.
ciphers (OU) in all these figures.
Legals.
Specie.
De-
Circu-
posits. 1
lation.
$
*
Clearings.
s've.
^. Y.
$
Bk. of N. Y.
Manhat. Co.
Merchants'
Mechanics'.
Amtrica
Phoenix
...
City
Chemical ..
Merch. Ex
.
(iallatin
& Urov
Mech.&Tra.
Greenwich
But.
2,000,0
2,050,0
2,000,0
2,000,0
1,500,0
1,000,0
25,000,0
300,0
600,0
1,000,0
300,0
700,0
500,0
600.0
Leath.Mtrs.
Amer.Exch,
Commerce..
Mercantile
Pacific
Chatham
People's
...
...
N. America
Hanover
...
Irving
Citizens'
..
Nassau
Mar.& Fult.
tjhoe&Lthr.
Corn Exch
Oriental
.
...
Imp. <fe Trad
Park
East Kiver
Foiuth
Second
5,000,0
25,000,0
3,000,0
422,7
450,0
200,0
2,000,0
3,000,0
1,000,0
2,550,0
500,0
1,000,0
1,000,0
2,000,0
750,0
1,500,0
3,000,0
250,0
3,000,0
300,0
10,000,0
First
N.Y.Nt.Ex.
Bowery
German Am
Chase
Filth Ave..
German Ex.
Germama
..
Lincoln
Garfield
Filth
Bk. otMet..
West
1,000,0
250,0
...
N. Y. Co...
Side..
Seaboard
..
IstN.Bklyu
Liberty
N. Y.Pr.Ex
New Amst.
Astor
Total
'
$
$
200,0
750,0
1,000,0
100,0
200,0
200,0
300,0
1,000,0
250,0
1,000,0
200,0
500,0
300,0
1,000,0
1,000,0
500,0
350,0
... 115,57'2,7
$
$
2,482,1 17,905,0
2,399,3 20.644,0
1,389,0 13,620,3
2,785,1 12,727,0
3,562,4 20,156,7
3,921,0
334,7
17,403,0 143,259,0
7,537,0 23.882,3
360,1
5,360,2
2,207,1
7,714,9
110,6
1,971,9
346,8
4,205,0
537,7
2.423.1
514,2
4.742,2
3,964,7 29,820,0
11,358,8 153,502,1
4,415.3 25,075,6
608,5
2,954,7
1,069,7
6,062,5
396,0
2,153,8
2,066,5 16,181,1
6,404,3 48,660,5
1,029.8
6,207,0
610,0 14,470,0
313,4
2,547,9
1,234,2
6,438.1
357,6
6,947,0
3,291,3 29,159,0
1,042,0
7,124,0
6,579,2 24,287,0
6,950,6 66.211,0
136,7
1,147,6
2,980,0 20,690,3
1.378,1
8,650,0
13,830,0 86,215,0
888,4
7,335,2
775,9
2,735,0
657,3
4,390,0
513,3
3.502,0
3,895,0 43,056,2
1,745.3
8,706,1
2,682,4
665,5
882,7
3,136,6
1,302,5
9.783,2
1,242,9
7,067,6
2,401,2
377,3
1,470,7
8,398,4
539,2
3,188,0
1,410,9 15,162,0
4,370,0
579,6
1,922,4 10,445,2
502,1
4,907,9
5,662,0
542,6
4,954,0
566,8
2,845,0
7,512,0
3,090,9
2,107,0
3,691,5
583,0
49,361,5
5,712.2
1,004,7
785.9
490,2
497,0
392,3
1,183,8
3,926,0
26,353,1
4,048.9
461,1
637,6
114,2
2,268,0
11,181,5
964,3
3,329,7
P.C.
$
1,472,0 16.968,0 25'4
2,197,0 26,908,0 36-0
1,277,1 15,>'9S,0 >1A
1,599,0 13,100.0 28-2
2,101,1 21,766,5 26-6
207,0
3.422.0 •'3-0
6,667,7 156,175,7 358
1,764,9 23,984,6 311
548,3
5,840,5 J6-5
652,6
5,312,3 25-1
39,4
2,23.0,3 23-7
481.0
4,408,0 22 1
291,9
2,090,4 32-7
313,1
4,955,1 30-2
l,b93.0 23,056,0 •'S-o
8,926,3 140,360,2 251
1,230,5 21,628,1 24-4
428,6
3,682,8 24-1
857,2
5,962,5 ''5-0
500,4
2,524,8 •->4S
1,446,2 15,074,0 ^4-6
4,468,6 59,650,6 26-2
45^,8
5,559,0 ')6-5
l,6tl5,7 17,531,0 •^H-6
346,4
3,152,5 26-6
612,4
6,855,1 31-6
222,5
8,225,0 fA-1
2,981,0 35,869,0 'ft-l
756,3
6,887,3 22-6
1,230,0 21,782,0 ''5-;
3,985,0 75,074,0 ?5-9
182,8
1,283,1 v^fi-6
2,756,9 24,191,6 ->R-2
1,399,0
9,888,0 fl6-4
2,067,7 75,446,4 'UO
469,3
6,643,7 26-7
265,0
3,100,0 2 -2
476,8
5,644.9 25-3
216,3
3,337,6 'U-O
1,664,1 62,689,9 27-7
256,1
9,532,2 ••!6-2
635,0
3,207,7 •i6-0
762,6
5,056,6 23-2
1,391,9
9,641,4 22-4
277,4
7,077,6 25-9
185,0
2,574,8 24-5
787,9
9,750,5 24-3
319,0
3,949,0 24-3
1,722,0 17,872,0 25-8
430,0
4,367,0 22-8
240,0
9,333,0 28-0
320,3
4,981,7 25-1
685,3
6,539,7 24-2
274,0
4,968,0 24-0
490,6
1,551,1
1,810,9
6,269,0
798,3
4,242,0
15,507.0
15S.9
4,073,6
1,116,0
16,052,9
1,306,9
395,0
953,6
686,8
12,936,3
1
2,244,2
170,0
426,1
774,0
1,658,3
447,9
1,585,6
641,0
2,898,0
667,0
2,376,4
933,9
904,0
922,0
132,366,2 998.918,8 217,239,6 69,324,4 10370137 27-6
t
t
Total United States deposits included $40,488,700.
Keports ot Non-Member Banks.
—The
following
is
the
statement of condition of the non-member banks for the
week ending Mar. 19, 1904, based on average of daily results.
We omit two ciphers (00) in all cases.
$
$
$
Feb 27 248,752,8 990,209,1 217,351,7 71,778,6 10279204 40,219,3
891.349,7
Mar
6 248,752,8 999,918,4 219,192,4 70,899,4 10405938 39,169,5 1,075,780.5
Marl2 248,670,1 997,399,0 219,135,1 70,119,2 10372689 37,962,6 964,162,7
Marl9 247,938,9 998,918,8 217,239,6 69,324,4 10370137 36,913,8 Llll,170,0
Bos.
Mar
52,635,4 173,053,0
6
13,657,0
5,006,0 190,286,0
4,876,0 190,426.0
4,922,0 196,703,0
Marl2 52,635,4 173,197,0 15,345,0
Marl 9 52,635,4 173,32l»,0 16,846,0
7,100,0
7,125.0
7,134,0
118,120.5
Hl,579,-J
116,762,9
220,801,0 10,565,0
222,902,0 10,517,0
224,833,0 10,607,0
104,702,5
90,889,9
102,352.8
Pliila.
Mar
48,167,1 180,387,0
Marl 2 48,167,1 188,620,0
Mar 19 48.167,1 189,314,0
63,345,0
62,540,0
61,517,0
f)
t Including tor Boston and Philadelphia tlie item "due to otlier banks."
and also Government depo.sits. For Boston these Government deposits
amounted on March 19 to $6,327.000 on March 12 to $6,346,000.
;
—
Imports and Exports for the Week. The following are
New York for the week ending for dry goods
Mar. 17 and for the week ending for general merchandise
the imports at
Mar. lb
;
week January.
also totals since beginning first
FOREIGN IMPORTS.
lor week.
1904.
General Merchandise
TotaL
Since Jan.
1903.
190L
1902.
$2,623,040
10,443.486
$3,362,888
10,521,989
$•2,699,567
7,848,814
11,147,159
$13,066,526
$13,884,877
$10,548,381
$13,953,210
$30,994,646
104,184,134
$36,179,022
99,844,122
$30,830,742
89,187,376
$26,828,282
94.721.802
•$2,806,051
1.
Dry Goods
General Merchandise
Total 11 weeks
$135,178,780 $136,023,144 $120,018,118 $121,550,084
for one week later will be found
our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Mar. 21, and from January 1 to date.
The imports of dry goods
in
EXPORTS FROM
For the week
Previously reported..
NEW YORK FOR THE WEEK.
1904.
1903.
1902.
1901.
$9,836,836
100,694,556
.$11,214,418
$10,279,500
94,469,S54
$10,069,656
111,420,326
107,380,897
Total 11 weeks
$110,531,392 $118,695,315 $104,749,354 $121,489,982
Note. As the figures of exports as reported by the New York Custom
House from week to week frequently show divergence from the monthly
totals, also compiled by the Custom House, we shall from tmie to tune adjust
the totals by adding to or deducting from the amount "previously reported."
—
The following table shows the exports and imports of
specie at the port of New York for the week ending Mar. 19
and since Jan. 1, 1904, and for the corresponding periods in
1903 and 1902.
EXPORTS AND T.MPORTS OF SPECIE AT
NEW YORK
fcXPOKLS.
Gold.
liVIPOKTS.
Since Jan.
Weeic.
1.
Wecic.
.Since
Jan.
1.
Deposit with.
BANKS.
Capi-
Sur.
OOs omitted.
tal.
plus.
invest-
Specie.
ments.
Leg. T.
&Bank
Notes.
Great Britain
Clear'g Other Deposits
Agent. Hks.&c
France.'
Germany
W^est
Man&Br'nx
Colonial
..
14th Street.
Gansevoort.
Hamilton
..
Mt. Morris
Mutual
19th Ward .
Plaza
Riverside ..
State
12th Ward
23d Ward
Yorkville ..
.
.
Fidelity ....
Varick
Jetterson
..
$
100,0
300,0
100,0
200,0
200,0
250,0
200,0
200,0
100,0
100,0
100,0
200,0
100,0
100,0
200,0
100,0
400,0
100,0
100,0
Century ...
Wash. Hgts
United Nat. 1,000,0
$
226,9
266,0
112,0
78,0
120,2
118,9
178,3
204,0
248,2
102,7
571,8
103,1
93,6
271,4
119,1
64,4
271,2
58,7
129,7
112,9
.1;
$
$
2,163,3
3,215.0
1,710,8
1,666,3
2,729,2
2,248,8
2,532,5
1,362,8
3,027,0
1,072,3
7,125,0
1,513,0
1,321,6
1,866,3
715,4
670,9
1,961,4
637,4
698,1
1.994,5
47,5
157,0
90,4
16,5
162,3
116,4
21.2
35,0
148,0
14,8
433,0
64,0
51,2
34,6
2,082,4
1,439,6
2.879,4
5,811,8
1,005,3
4,972,0
3,283,0
12,6
102,2
290,1
976,4
10,5
37,9
9,9
6,9
8,9
19,1
11,0
220,1
183,8
102,0
72,5
107,4
91,1
102,7
204,4
115,2
137,0
106,7
240,0
208,0
135,7
199,5
43,8
53,8
61,2
22,9
24,8
67,5
$
491.3
218,0
335,1
174,6
142,7
275,0
145,5
259,3
215,0
112,8
87,0
124,0
114,7
297,3
55,0
04,2
147,9
33,7
85,2
81,9
$
.s
319,7
3,5
100,0
73,3
125,0
54,8
100,0
327,8
i32,8
845,0
,,^'^
112,2
1,8
2,876,0
3,201,0
2,140,6
1,892,3
3,022,1
2,865,6
2,623,3
1,781,7
3,227,0
1,255,4
8,291,0
1,925,0
1,630,3
2,098,4
694,2
30,9
715,0
1,4
1,774,6
632,1
486,1
1,225,1
66,1
Borough oi
Brooklyn.
Broadway
Brooklyn
.
..
Mfrs.'Nat..
Mechanics'
Merchants'.
Nassau Nat
Nat. City
..
North Side.
Peoples
17 th Ward
.
BpragueNat
Union
Wallabout .
Borough ...
150,0
300,0
252,0
500,0
100,0
300,0
300,0
100,0
100,0
100,0
200,0
200,0
100,0
200,0
325.7
156,5
620,8
376,9
58,9
730,1
576,6
171,4
177,0
83,2
252,1
110,7
76,7
85,9
1,203,9
595,8
1,142,0
1,174,9
745,9
1,528,6
l'.t5,9
10,2
196,0
135,0
9,0
103,0
44,0
45,5
20,4
88,(»
251,7
349,0
691.9
944,8
44,6
838,0
594,0
40,6
161,6
64,0
156,0
155,4
24,9
111,9
42.4
113,0
178,8
.05,7
72,9
559,8
49,5
317,0
333,0
63,6
129,2
58,4
24,0
24,4
50,0
65,0
10,0
19,0
234,0
230,4
104,2
5(),7
25,0
294,3
63,6
49,7
2,165,3
1,679,2
3,537,1
Total 1904
Total 1903..
Total 1902
.
National
Second Nat.
Ihird Nat..
.
107,5
721,8
57,2
400,0 1,043.6
3,700,6
204,7
100,0
250,0
250,0
200,0
110,0
125,0
10,0
Beoond Nat.
Tot.
Tot.
Tot.
61,003
171.303
Silver.
Great Britain
$616,160
Prance
Germany
West Indies
Jt;52,764
0.4,150,898
3,522
633,216
5.045
$4,273,643
1,967,985
825,971
"$513
$1,422
4.930
60,190
79,069
25,008
$9,559,713
301,559
"3;352
7i;508
Mexico
South America
l,3'.5o;8()0
All other countries
4,996
"'i'.iig
L617
.,618,512 $11,288,576
*1,632
126,882
48,024
$172,286
266,622
293,301
»
Total 1904
Total 1903
Total 1902
708,769
472.890
8,997,686
9,132.716
Of the above imports for the week in 1904, $3,357 were
American gold coin and $1,292 American sUver coin. Of the
exports during the same time ^51,000 were American gold
coin and §
were American silver coin.
Auction Sales.
1,011,5
5,255.0
4,016,0
1,071,8
1,432,8
622,8
1,077,0
1,450,3
—See page preceding.
732,8
1,621,6
&
Trask
Spencer
Co.,
....
Bankers,
WILLIAM & PINE STREETS,
6.648,0
292,7
285,8
2,091,0
1,108,1
1,087,0
75,5
64,1
46,6
64,6
16,6
75,8
527,1
146.2
2,208,9
1,064,9
139,9
40,0
34,3
37,6
651,1
746,2
156,7
NEW YORK
210,3
272,4
050,4
65,1
67,0
4,9
1,747,5
1,120,5
1,634,3
181,0
200.6
55.1
7!»,5
2,193,5
1,108.9
91, (•'62.2
8,487,0 102076 80,951,9 3,498,1 4,850,3 109917 4,986,2
8,487,0 102076 80,243.4 3,526,1 4,881,2 122640 4,M74,1
6 8,487,0 102475 79,395,6 3,463,3 4,598,2 120737 4,910,2 91,221,0
llluminatino' Company First Mortgage
Cold Bond, paying the investor S%.
Members N.
.
.
SECURITIES.
INVESTMENT
Uranoh umce,
ytate
Stock
05
KxchatiKC.
Y.
Moffat
Meinborit
&
St.,
Albany.
White,
New Vork Htock
ExcbaiiKe.
NASSAU STKKKT. CORNKR WALI.,
jDcalcrs in Investment Securities.
1
Marl 9
Marl2
Mar
$1,913,774
1,853,345
7,4.(4,4
274,7 1,561,0 1,040,3
HOBOKEN.
First Nat...
,$651,000
45",hV7
$2,047,346
598,332
1,146,450
76,918
14,017
370,993
19,587
Special circular carefully describinof
the property covered by an Electric
XeeseyCity
First Nat.
Hudson Co.
$3;325
'*7"l')o6
544,000
All other countries
Borough of
Michmond.
l8tNat.,S.r.
l,14i"654
23,120
745,000
2,000
Inrlie..*
Mexico
South America
N. Y. CITY.
Boroughs of
Columbia
iji2,000
TeU
5820-5821 Cortlaodu
Telephooe Stocks a Speciallr*
r
.
THE CHRONICLE.
1206
ilanUciV
For IHftid4na$
t«<
pagt
Wabash and United
Quincy,
(Gazette.
[Vol. Lxxvni.
ally conspicuous.
'*04-
WALli t*TKKKT. FUIHAY. >I%Kril *J,1. 1901.-5 P. I»l.
The Money Market and Flnrtndal Sltnatlon.— The plan
for a speedv liquidation of the Northern Securities Corporation was faVorabiv received in Wall Street, and dnring the
early part of the week the aocnrity markets were more active
than for several months past. There was a sharp upward
movement of the issues directly affected and the entire list
was strong in sympathy. Later it has developed that the important interests representing Northern Securities stock have
m^t yet come to a full understanding as to the legal status
and final working out of the proposed plan of settlement.
For this and other reasons, including liberal sales to realize
profitB, there haj^ been a reactionary tendency.
There is. kowever, a stn^ng undertone to the market, and
a substantial advance in some issues to-day, based on a general expectation that the Northern Securities affair will
soon l>e settled to the complete satisfaction of all interests
concerned.
Moreover, the cotton and grain markets are in a less excited state, the iron and steel industries continue to improve,
and an extremely easy money market supplies at minimum
rates all needed funds for legitimate purposes.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from IK to '^yi P^r cent. To-day's rates on call were 1^ to
V^ per cent. Prime commercial paper quoted at ^%@i% per
cent for endorsements and A.%@b p. c. for beet single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £119,525 and the percent-
age of reserve to liabilities was 49*27, against 50-55 last week,
the discount rate remaining unchanged at 4 per cent. The
Bank of France shows an increase of 15,550,000 francs in gold
and of 4,325,000 francs in silver.
ireW TOKK OITT OLBABINO-HOtTSB BANKS.
States Steel issues being especiThere have been a few strong features,
including Wabash debentures, Union Pacific convertible 4s,
Oregon Short Line participating 4s, Burlington & Quincy
joint 4s and Rock Island Railroad collateral trust Ss, which
have advanced from 1 to 2 points. Otherwise changes in the
active list have been fractional and generally to a higher level.
United States Bonds.— Sales of Government bonds at the
Board are limited to $3,000 2s, coup., 1930, at 105>'i^. The following are the daily closing quotations; for yearly range
page following:
see thtra
1980
1980
Ss,
Is,
Ss,
Ss,
88,
>s,
8s,
8s,
48,
48,
4s,
4s,
registered
ooupon
Interest
Mar.
Mar.
Mar.
PtrloOs
19
21
22
Q—
Q—
Mar. Mar. Mar.
23
24
25
Jan •106 •106 •106 18 •105 >8 •10618 •10618
Jan •106 >« •106>« 106'^ •106<H) 106*4 •106\
1980, smaJ.reglstered
1930, small
ooapon
1918
registered Q-irVb •ib6>4 •ibe'i •ib6"i
Feb •1064 •1064 •106i«
1918
ooapon
1918, 8m«ll.reg1st«red Q-Feb
ooapon
Feb •ibeii *i06>i •106^
1918, small
1907
registered
Jan •10B»4 •106»4 -107
1907........... ooupon
Jan •107»« •1075« •108
1925
registered
Feb •132 >» •182S •1334
1925
ooapon
Feb •182'% *182«i, •182Sb
•This is the prloe bid at the momlnc board; no sens
Q—
Q—
Q—
Q—
Q—
Q—
•ibe'i* •ibe'i
*106>» •106I3 •ioe>«
•ibe'^
•ib'e'it •ibs'ii
•107
•108
•107
•108
•107
•108
•132'^ •182«8 •182^
•132«8 •182»B '132«»
wm maae
,
Railroad and Miscellaneous Stocks.—The stock market
has been active and irregular. Over 1,300,000 shares were
traded in on Wednesday, much the largest record of the year
thus far, and on no day of tbe week have the transactions
fallen below 600,000 shares. The fluctuations have been
wide in some cases, being especially notable in those stocks
affected by the liquidation of the Northern Securities Company. Great Northern preferred advanced 13 points, but
subsequently declined and closed with a net loss of 1 point.
Union Pacific was bid up 9)^ points and Southern Pacific
6/^ points.
In sympathy with this
movement a long list of active
shares
orpins
116,572,700
132,866,200
998,918,S00 Ino
36,»13.800 Dec
110,322,700
132,764,400
1,619,800 911,547,40C
42,863,600
1,048,800
265,200 •900,682,400
1,896,600 163,692,600
794,80f
64,768,600
83,822,700
103,666,700
912,968,100
31,434,600
973,234,600
176.882,400
69,947,600
advanced from 3 to over 5 points, including Pennsylvania,
Reading, North West., St. Paul, Rock Island, Atchison,
Erie, Louisville & Nashville, Canadian Pacific, Baltimore &
Ohio and Metropolitan Street Railway. The highest prices,
which were generally recorded on Wednesday, have been
followed by a substantial reaction, and closing quotations,
omitting the Pacific stocks, average but little more than a
point higher than last week.
Amalgamated Copper, American Sugar Refining and the
United States Steel issues have been fairly active, but otherwise the miscellaneous list was neglected, and with a few
Keserre held
96 p. 0. ot deposits
286,564,000 Deo
359,253,426 Deo
2,690,30(
228,351,000
226,170,600
246,779,900
243,308,650
and
IHJJtrtnctt
frev*
1904
Mar. 19
0»pltal
prtvious
{lOABS A dlsootmts
Circolation
•1,037.013.700 Deo
Net depo8it«
317,239,600 Deo
gpeole
69,82M00|Deo
Legal tenders
1903
Mar. 22
1903
ifar. 21
%o*$lt
63,800
37,810,576lDec 2,626.600
3,180.400
8,471,260
S40 488 700 United States deposits inoiaded, against $39,585,000 last
week »Ed '$40 228,400 the oorresponcUnfr week ol 1903. With these
United States depoilte eliminated, the surplus reserve woald be $37,433,760
on March 19 and $39,820,835 on March 12.
jjoxB.—Beturns ot separate banks appear on the preoedlng page.
giirplasreserre
*
—
Foreign Exchange. The foreign exchange market was
firm, though only moderately active, this week; there were
some indications of an early export of gold to Paris as an
arbitration operation.
To-day's (Friday's) nominal rates for sterling exchange
To-day's
were 4 85 for sixty day and 4 88 for sight.
sterling
for
exchange were
rates
(Friday's) actual
4 8435@4 8445 for long, 4 8710@4 8715 for short and 4 8750@
4 8760 for cables. Commercial on banks, 4 8415@4 8425, and
documents for payment, 4 83^@4 84i^. Cotton for payment,
4 833^@4 833,8; cotton for acceptance, 4 841 5@4 8425, and
grain for payment, 4 84@4 84i^.
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 18i^@5 17^ 'or long and 5 15%*@5 155^^ for short.
Germany bankers' marks were 94%@94 15-16 for long and
Amsterdam bankers' guilders were
95 5-16@95%t for short.
40i^@40KTI for long and 40'4**(a40M1[ for short.
Exchange at Paris on London to-day, 25 f 14>^ c; week's
range, 25 f 14}^ c. high and 25 f 14 c. low.
The week's range for exchange rates follows
.
.
.
-Short.-
-Long.-
BUrU»g Aetua^^
Hi«h...
4
I
8460
Low... 14 84S0
«
«
4 8460
4 8440
Paris Banker/' rranet—
« 6 17H*
High... 6 18>«
I
Low... 6
Otrmany
I
High...
Low....
I
I
4018
I
AO^
ii8 of 1%.
he
|
9
I
«
I
181,
illhi
Sanlceri' Marks—
'» 84i»i«
94^8
94i»i6
94»4
AmtUrdam Bankers'
High...
Low....
Lees:
I
«
«
I
4 8710
4 8706
6 16»gt
6 16H-
'9
»
9
«
96a8t
«
«
40»iat
40*18*
40J*?
I
4 8760
4 8740
4 8716
6 16<^»
Guilders—
40i«11
4 8715
»
96»i«
95»i«
I
-Cables.
«
9
.
4 8760
4 8760
®6 16»8t
95^t
I
I
exceptions, including Consolidated Gas, (General Electric
New York Air Brake, the fluctuations have been unimportant.
For aaily volume of business see page 191S.
The following sales have occurred this week of shares not
represented In our detailed list on the pases which follow.
STOCKS
Sales
for
Wtet Mnding March 35 Week
AlUs-Chalmers Oo
1,700
942
Preferred
Amer
Ajirrloul
Chem
RB.
Atlantic Coast Line
Amer Teleg & Cable
Amer Tobacco Co. pref..
Cleveland
Pittsburgh.
Consolidation Coal
<fe
Del & Hudson rights
Detroit City Gas
General Chemical
Horn Silver Mining
Ill
Cent leased lines stk.
Nat Bnam & stamping..
RB
100
4011
Sang* for
6
Mar22
39isMar25
8^Mar25
48
Marai
ISi^Marlt* 14
107 Mar22 107
Mar 24
Range
6
sinee Jan.
Mar
89*4 Mai
1.
16 Feb
6478 Feb
I
13 Mar l434Jan
Mai 23 104i<2Peb 110>4Jan
Mar25 82 Jan 86>4<Ian
Mara6 130 Jan 135 Jan
Mar21 181 Mar 181 Mar
Mar21 68 Mar 68 Mar
Mar25
Mar25
Mar21
Marai
2*4 Mario
86
130
181
68
3i8Mar21
90TgMar21
99>4Mar32
90>«Msi31
99iaMHr36
88 86
30 130
100 181
25 68
10,161
W*$lt
2'^Mar
8i8Mar
Feb
OO'sMar
96 Feb
99it)Mar
loO 78i9Marl9 73VjMarl9 734Mar 76iaJan
100 46 Mar35 46 Mar25
43 Mar 53>aJan
400 1'26 Mar2S 1-26 Mar23 1-25 Mar 1-26 Mar
60 104 Jan 23 104 Jan 28 103i«Jan 104iaJan
200 18S4Mar22 19 Mar24 17 Jan 31 Jan
Securities 111 Cent'l
stock trust certificates
United Fruit
10
300
86
Oatgfde Market.— Interest in the market for unlisted seweek has centered almost entirely in Northern
curities this
Securities stock and in the other issues directly affected by
the merger decision. Dealings in Northern Securities shares
have been unusually heavy, total transactions for the week
aggregating, it is estimated, about 128,000 shares; after a
loss of }4 point to 893^ the price of the stock advanced to
100%, but later reacted to 96/3; the close to-day was 973^.
An interesting feature was \he trading to-day in what is
called on the "curb" Northern Securities "stubs," that is,
the remaining 1 per cent after the capital has been reduced
99 per cent; one of these "stubs" sold at 200, while three
brought 225. Northern Pacific stock, whicli has not been
dealt in either on the Exchange or on the "curb" for
about two and one-half years, was traded in for
first time on Wednesday; sales were made "regular" at
from 128 to 133 and on Thursday at 127; transactions were
?»32 Ol 1%.
also made "when released by Northern Securities Company"
The following were the rates for domestic exchange on from 133 Wednesday down to 124 to-day. There was also
New york at the under-mentioned cities to-day: Savannah, spirited bidding at auction on Wednesday for 20 shares of
121^0. per $1,000 premium; Charleston, 25c. per $1,000 pre- Northern Pacific stock, which was finally knocked down at
mium; New Orleans, bank, 25® 10c. per $1,000 discount; 1453^. Great Northern preferred sold "when released" at
commercial, 50c. per $1,000 discount; Chicago, 10c. per from 176 to 168, closing to-day at 169i^. After an advance
$1,000 premium; St. Louis, 30c. per $1,000 premium; San from 6231^ to 625, Standard Oil stock became depressed^
Francisco, $1 50 per $1,000 premium.
and dropped to 620. Standard Milling preferred gained SA
State and Railroad Bonds.—No sales of State bonds have points to 25, while the common rose a point to 6. Light,^
been reported at the Board this week.
Fuel & Power of W. Va. advanced from 28 to 30^. ConThe transactions in railway bonds have been on a larger siderable strength has been displayed by Greene Consoliscale this week than for some time past, amounting on dated Copper stock this week, the price advancing from lO^g
Wednesday to nearly $3,500,000 par value. They were, to 12)^; to-day, however, there was a reaction to 13,
however, not very well distributed, the activity in Union which price the last sale was made.
Pacific, Oregon Short Line, Rock Island, Burlington &
Outside quotations will be found on page 1218.
I
'
t
40H1;
Ha
ol
of
1%.
I
401*11
*
t «»i
»»i
of
1%.
I
Plus: H
Plus
11116
011%.
1%. •* i„ ol 1%.
he of
:
the
New York
Stock Exchange-Stock Record, Daily, Weekly
O
J and Yearly
J
OCCUPYING TWO PAGES
____^__
STOCKS—HIGHEST AND LOWSST BALU PSICSS
Saturday
March 19
Monday
March 21
•24
*53
27
56
671a 68 's
82^8 89 \
77a(,
•24
*53
27
56
6838 69 14
8934
7838
7S'g
*SS^ 89 Ki
42^4
7915
78 14
?89
124
901a
80
89
42^8 4334
113l4ll4»2
II3I2U5
»63ia
*63V2
'6312
•156
64^2
160
3118 31S8
SB's 393e
*80
84
•120
140
1434
•82
I5712I59
3II4
32
391s
•180
'125
15
*82
*66
8O34
1538
87 12
31^8
3838
-80
83
•125
200
140
180
200
140
160
31I4
3734
1434
*24
•24
27
641a
§156
32
38
80 >a
180
125
1536
*83
S7^
69I2
*64
•25
27
14418 146%
15
82
64
STOCKS
23
53
Mange
On basis
Sales 01
new york
stock
exchange:
Friday
March 25
27
56
the
Hange lor I^evxovn
Year (19U3)
Week
Shares
Lowest
Railroads.
Ann Arbor.
27
57
lor Yeon- 1904
or 100-share lots
Highest
Lowest
Jiighett
Jan 22 27 Jan 22 25 Deo
Jan 8 }54 Feb 1 54% Dec
Feb 24 71%Mar23 54 Aug
8934 90%
89% 89%
Do
pref
8,418 87% Jan
9234 Jan 22
84% Aug
78% 801* 78% 7934 Baltimore
&
Ohio
:
136,078 72%Marl4 85% Jau 27 71% Sep
{8938 893i. «89ia 89>..i
Do
pref
91ii 87% Feb 19 92
Jan
8234 J'ly
43
4434
Brooklyn Rapid Transit.! 146,365 38 Feb 24 52i4Jau 28
2 29% Sep
118
Buffalo Roch. & Pittsb'g.
118%
2
127
..;""
Jan
12
121
Nov
'132
*i32
53
56
7018 7138
89-8 9114
7934 8II4
89
891a
43i« 441s
69
115 ....
132 ....
11478116
641a
*156
38
8034
15 14
87 12
641,2
March 23
Thursday
March 24
53
H)^
115 124
132
II3I4II5
....
....
Wedrvesday
27
57
89^8
42^8 4438
*115
*132
•23
•53
68
901-2
89 14 89 14
43'f.
*115
•132
Tuesday
March 22
703^
*156
156
31
321a
38^8
159
32
14
37%
80 12
200
140
80
200
135
1538
160
Central of
...
121 14 Jan 22
250 64%Mar23 68% Jan 2
50 154% Feb 20 I6334 Jan 19
8,410 28 14 Mar 14 36 Jan 28
3,650 33 Jan 15 40 Feb 6
500 75 Jau 2 85% Jan 21
Jan 18 5182 Jan 14
""10 nsi
124 Feb 11 4135 Mar24
.
New Jersey...
31% Cliesapeake* Ohio
37% 38 Chicago* Alton
81
81
Do
180 200 Chicago pref.V
Burl* Qumcy..
•120
Chicago cfe Kast. 111., pref.
1534 CliicaKO G^reat Western..
1536
14 Feb:J4
83 % Feb 5
65 Feb 2
8,200
Sep
140
109% Marl
19,464
140
1534
64
M^
Pacific.
Southern
3II4
Jan
Jan
897gJan
103% Jan
104 Jan
9634 Feb
71% Feb
150 Feb
160 Feb
13334 Feb
78% Jan
190 Jan
53% Jan
37% Jan
75% Deo
41
69
S5234
pref
113% 114% CCanadian
65I4 65I4 .Canada
*156
38I4
80
180
n35
1534
871a
691a
2334
^
27
pre(
Topeka & Santa Fe. 189,644
Do
114i8ll53(.
641a
Do
70I4 Atch.
681a
115% Oct
57% Sep
153
Oct
27% Nov
ISiaSep
60 Sep
5170 J'ly }184 Mai
105 J'ly 138% Jan
Jan 22
13 Aug 29% Jan
83% Sep 90% Jan
63 Oct 85 % Jan
I4408 144 145*8
800 25%Mar21
24 Sep 46^8 Feb
»178 178>2 178I4I78I4 178ial78i<^
271,690 137% Feb 24 I48I4 Jan22 133% Aug 183% Jan
166isl66i8 167 I6712 167 1681a
173
Mar
329
4
179%
Jan
22 168 Aug 194% Jan
16918 1701a 169 170 Chicago & North Western
7,735 161%Marl4 l70%Mar24 153 Sep 224% Jan
212 212 J214 214
212 212
Do pref
250 207 Fob 8 214% Jan 23 190 Aug 260 Jan
Cliic. Rock Isl'd & Pacific
•135" 145" 135 135
•135 145
132 Oct 200% Jan
i35"i42"' 135 145
'135 140 Chic. St. P. Minn. <fe Om.
"206 i'So Mar22 lis" Jan '21 117 J'ly
•165 175
•167 175
'165 180
162 Jan
165
175
165
175
'165
175
-9I4 10
Do
pref
176
Jau
•9
6
934
176
934
Jan
934
}165
Nov 194 Jan
{934
*9
934
10
49
8I4 Feb 24 1234 Jan
Chicago Term'l Transfer.
2034 2034
260
20
2^
19
16
Aug
8
20
20
2034
19% Jan
20
20
19% 19%
Do pref
2,563 18 Jan 2 26% Jan 15 15 Sep
~
6
6
61*
6
6
6ie
36 Jan
6
6
6
6
5%
6
Chicago
Union
Traction.
4%Feb20
•30
4,770
30
32
*3l
32
7%Jan 4
3 May 17% Jan
32
Do pref
•74
29% Feb 23 3334 Jan 18 30 May 5934 Jan
76
7638 7636 *75
7638 •75
76
75 76 74 75 Cleve.
Cin. Chic. <fe St. L.
75
iMarlO
"102 11034 '102 11034 101 111
200
8034
Jan
Aug 99% Jan
22
66
•101 111
•102 11034 102 11034
Do pref
100 Feb 8 110%Marl4 112 Dec 119 Jan
•18
I8I4
18
17
187e
17% 17
17% 17% 1714 17
17%
Colorado
&
So.,
Tot.
Feb
trust
14%
23
3,597
19 Jan 12 10 J'ly 31% Jan
$55
55
55
55
5413 541a
64
54
•5313 641a *53% 55
Do Ist pf. vot. tr. cfs.
625 52 Feb 23 58% Jan 25 44% Aug 72 Jan
2534
25 14 2534
25
241a 25
241a 24%
24
24
24
24%
Do 2d pf. vot. tr. ctfs. 1,851 22 Feb 23 28% Jan 22 17 Aug 48
150 ISO's 151 152
I5014I5II8 I50I4 I5II4 15034 151
Jan
150%151 Delaware »fe Hudson
2,300 149 Marl2 168% Jan 22 149 Aug 183% Feb
*280 270 S265 265
'255 265
264 264
265 2671a *265 268
elaw.
Lack.
<$!
West'u.
Feb
250%
23
440
*19ia 20
275 Jan 14 230 J'ly 276% Jan
20
20
20
2014
201a 2012 •19
21
•19% 21 Denver cfe Rio Graiide
700 18 Marl4 23% Jan 22 18 Oct 43 Feb
*68ia
69
671a 68I2 *68
691-j 70
65
•651a 69
70
Do
pref
Feb
64%
24
300
20 25 i20 70
*20
74% Jan 22 62 Not 90% Feb
25
20
•19
25
*20
25
20 25 Des Moines & Ft. Dodge.
10 19% Jan 7 24»8 Jan22 12 Sep 47% Jan
lOH lOis lOia 1034
1034 11
III4 1134
III4 III4 10
III4
Detroit
South.
vot.
tr.
ctfs
Feb
29 14^ Jan 23
1,540
8%
•19
734 Aug
2015
Jan
201a 21
191a 21
*20ia 21'a «2l% 21'a
211a 22
Do pref. vot. tr. ctfs. 1.250 17 Mar 2 29% Jan 25 14 Nov 20%
•6234 6434
3934 Jan
64
64
641a 65
641a 65
63% 64% 63
64 Detroit United
61
Feb
25
1,310
67%
Jan
35
•71^
912
22
Oct
90
Jan
9
9
•81a lOia
<8ia
*6hi lOia
8% Sia lOia Duluth So. Shore <fe Atl..
8 Feb
110
10% Jan 22
•1234 15
7 Aug 19% Feb
*13
*12ia 15
15
•1234 15
*12ia 151a
13
13
Do
pref
100 ll%Feb2U 1634 Jan 23 10 Nov 29% Feb
25 1« 2558
24^8 25 Tg
24% 25 Tg 2613 27% 26% 2734 26
27% Erie
231,880 22 Feb26 29% Jan 2 23 Aug 42% Jan
6334 643s
6334 64 14
6318 64
641a 65 14
64
65
63%
64%
Do
Ist
pref
61% Feb 29 6934 Jan 27 62% Apr 74 Feb
15,814
4112
41
411a 41^8
423* 4336
411a 42
42
43% 41% 42% , Do 2d pref
7,300 37% Feb 2 9 60% Jan 2 44 J'ly 64^8 Feb
•60
60
65
•60
65
•60
67
60
65
65
60
65
Evansv.
<fe Terre Haute.
62 Jan 11 66% Jan 27 39% J'ly 72% Jan
•70
*70
80
•70
80
78
70 78 70 78 •70 78
Do pref
72 Feb 23 72 Feb 23 78 Aug 91 Jan
•45
59 12 *45
59ii •45
5912 45
5912 •45
591a *45
59%
Ft.
Worth&Den.
C.stmp
52% Feb 4 54 Feb 3 31 Sep 7434 Feb
*170 175
175 17512 176 183
1804186
17i!
172% 172 172% Great Northern, pref
2,610 170 Marl 7 186 Mar23 160 Oct 209 Jan
72
72
74
74
Green Bay* W..deb. ctf.A
7 72 Mar24 79^8 Jan 7 73 Dec 85 Jan
13
13
13
lb
13
13%
Do
deb. ctf. B
46 1 1^8 Feb 26 1434 Jan 25 10 Aug 27% Jan
73
«73
74% 7434 7434 7^4%
761a
75
75
VaUey
70 Feb 11 77% Jan 22 63 Sep 106% Feb
Hocking
435
-78
80
80
Si's
81
8I34
8OI4 81
811a 8I34
'si'
81% LDo
Do pref.
nref
1,325 77 Marl 2 85 Jan 7
77 Oct 99% Mai
I28I2I29I4 1281a I2914 I28I4 129
129 130
128% 12934 1291412914 IUinois Central.
6.499 12534 Feb 24 13434 Jan 28 125%J'ly 151 Jau
•19
•19
20
20
191a 191a •19
20
19%
•18
19%
20
owa
Central
200 17 Feb 18 22% Jan 8 16 J'ly 48 Jau
•36
•35
•36
38
3a
38
34
34
34% 34% 35
35
Do pref
300 32 Feb 25 42 Jau 14 30% Oct 77% Jan
•24
*24
30
29
25
*24
25
29
*25% 28 Kanawlia cfe Michigan
100 25 Mar23 29 Jan 21 26% Oct 47% Jan
•66
66
67
661a 66'e
67
67
66% 66% •66
66%
C.Pt.S.&M.,tr. cts. pfd
300 65 Feb 8 69 Jan 21 62i4 0ct 8234 Feb
•17 la 18^8
191a 191a '181a I914 19% 21%
20
21
19
19
Kansas City So. vot. tr.
670 16 la Feb 24 21 Jau 21 16% Oct 36% Jan
34I2
^35
34
3413 36
36
3513 37
36% 36% 36% 36%
Do pief. vot. tr. ctfs. 4,640 31 Feb 29 3334 Jan 19 29 Oct 61% Jan
•10
*10
15
10
15
•10
15
15
•10% 15
10%
12%
Keokuk
<fc Des Moines...
10%Jaaill 14 Jan 11 10 Oct 40 Mai
•40
•40
40 50 •40 50 •40 ao '»40 50
50
50
Do pref
48 J'ly §55 Apr
•27
•27
28
27
27 12 27% •27
28
27
28
26
27 Lake Erie
Western...
395 26 Marll 30% Jan 25 23% Nov 63 Jan
•90 110
90 110
'90
110
90 105 90 105 •90 105
Do
pref
S89 Janie 95 Feb 23 89 Nov 118 Feb
'250 275
•250 275
*250 275 •250 275 250 275 250 275 L. Shore
Miclu South'n
§27134 Feb 24 §27134 Feb 24 275
Dec 334% Jan
•46
46 52
46 54
60
49
49 52
49
48
63 Long Island
49 Mar23 65 % Jan 2 49 Dec 83 Jan
100
104 1043<. 10434 105% 10434 105% 105 1^10634 105 14 1.07
105% 106% Louisville & NashvUle... 23,820 101 Feb23 lll%Jan22 95 Sep 130% Jan
143 143% 143 143% 142%143i4 142i4l42i-> Manhattan Elevated...
143181431a 143 144
7,480 13934 Marl2 146% Jau 22 126% Sep 155% Jan
79I4
79
79
77 791-; 79% 801a 78 78
79% 79
79
etrop. Secur., sub. rec.
6,650 72% Marl4 92 Jan 21 70% J'ly 128% Jan
109 11134 Illiall3i4 llliall234 112 113 a;llO II214 110 IIH4 Metrerpolitan
Street..
41,200 10434 Mar 14 124 Jan _ 99% Sep 142% Jan
Met. West Side El. (Chic.)
16 Jan 16 17 Is Jan 4 17 Dec 38 Jan
Do pref
45 Mar 9 §50 Feb 5 51%Dec 88 Jan
11% \1\ 1134 11% Ilia 1134
11 14 1114
11% 1134
11%
11%
Mexican
Central
9% Feb 25 14% Jan 11
5,925
8% Nov 29 Mar
•125 135 •125 135 •125 135 '125 135 125 135 125
•64
*25
143
691^2
28
69I2
25^8
26%
•82
87 Wj
83
64
Do 4 p. c. debentures
Do 5 p. c. pref. "A"
27 14
•26I4
26%
Do 4 p. c. pref. "B"..
146-414734 a;I40ial43% 140%1423g
Chicago
MUw. & St. Paul.
{178 178 171 176
171 176
Do pref
168 169^8
65
6912
271a
871a
691a
27I4
1734
85% Jan 14
71
31
Jau 23
Jan 21
1
'.'.'.
.
<fe
<fe
*56
•89
611a
•118
1734
65
'56
98
•89
63
118
63
123
iSis
38I4 39
9178
91
•105 I0712
38I4
371a
181a 19
1161a 116''8
*26ia 2914
•69
•189
21
5714
•85
•52
*85
•62
631a
190
90
55
62 14
•90
62 14
97
42% 44 14
•781a 79
•59
21%
61%
•9
•35
•17
55
88
63
631a
124 *118
I8I4
•67
65
95
85
63%
124
63% 63%
124
•102
•60
190
20'!8
573^
1734
120
100
*59
190
21
641a
190
124
2134
5834
5734
•85
90
531a 531-j
100
66
II6I4 11734
17
20
•75
78
§89
53
85
62
•60'
•90
80
621a
99
*85
*63
1818
102
110
60
65
190
21%
58%
90
56
100
66
116%11734
17
76
r
60"
90
20
76
80
62
99
44 14
78
60
55
85
62
95
18% 18%
33
39% 30% 3934
381a 39%
91
92% 90% 92 14 9134 93%
107 107
106 106 *106 107%
38% 38% 38
38
38% 3812
18
I912
181a 181a
19% 19%
116 117
11534 117
116%118
•27
2914 •271a 281a •27% 29%
1734
21%
6T%
100
66
Ii5%117i4
•17
20
•75
78
•
80
65
98
120
62 14
90
56
105
•63
66
11734 120
17
20
60'
•92
63
80
80
62
97
4434
79
60
2134
2114
22I4
20% 21%
21%
24
621a
62
63
62
62 14
62
64
62
11
•9
9
11
9
11
•35
38
35
•9
38
35
38
19
•17
19
•17
19
38
19
35
17
11
38
19
17
44% 45%
79
60
80
60
&
St. Louis.
Marie.
S. S.
65
*188%189%
21
N. Y. N.
Haven
2134 N. Y. Ontario
57% 58
•85
Do 1st pref
Do 2d pref
Norfolk
<fc
<fe
Hartf
& Western.
Western
631
38,020
10,215
80
§119% Feb 1 138 Feb 26 102 .May 135 Jan
61 Febl8 6734 Jan 18 41 Oct 110 Jan
90 Jan 6 9434 Jau 21 83 Nov 118 Feb
55 Jau 4 67 Jan 20 42 Aug 79% Feb
117 Feb 25 12634 Jau 28 109% J 'ue 132% Feb
14% Feb 24 19 Jan 21 15% Oct 30% Jan
35 Feb 23 4218 Jan 22 33 Oct 63 % Feb
87 Feb 24 95% Jan 22 8534 Aug 115% Feb
101%Feb21 124 14 Jau 11 85 Oct 133% Deo
3434 Feb 25 41
Jan 11 34% Mar 47%Maj
15% Feb 25 21% Jan 8 17 Nov 28%J'n«
112%Mari2 122 Jau 8 112% J'ly 166 Jan
25% Mar 7 32 14 Jau 23 19% Sep 45 Jan
108 J an 21 108 Jan 21 100 Oct 118 Jan
63 Jan 19 69 Jau 26 50 Sep 87 Jan
189i4Mar 8 196 Jan 23 187% May 225% Jan
1938Marl4 24 14 Jau 25 19 Sep 35% Feb
53ia»Iarl2 62 '1 Jan 28 5334 Nov 76 14 Feb
88% Feb 25 89 Jau 5 85 Aug 93% Feb
51 Feb 24 56% Jau 22 3 9 34^3 ep 72 Jan
80 J'ly 100 Feb
61% Jilu 12 07% Jau 22 50% Aug 76 Jan
Do adjustment, pref.
Pacific Coast Co
200
Do Istpref
Do 2d pref
200
118% 11634 II8I4 Pennsylvania
511,166 111% Mar 12
19
18
20 Peoria<& Eastern
100 17 Marl6
75 Pore Marquette
75% 75
800 75 Feb 24
80
80
Do pref
60 62 6O" 62 Pittsb. Cin. Chic. & St. L.
60 Mar 9
•92
•90
97
97
Dd pref
97 Jau 15
43% 45 14 4234 44% Reading, vot'g tr. ctfs.. 205,230 3334 Marl4
•78% 7y% 278
78
Ist pref. vot. tr. ctfs...
156 76 Alai 1
60
60
60
60 la
2d pref. vot'g tr. ctfs.
1,700 55% Feb 25
23 14
217. 2234 Bock Island Company
22
109.415 lOipiMarll
85
53
•85
63
117
19
75
79
'58
110
•59
59
90
53
100
63
43%
43 14
878
Minneapolis
Do pref
63% Minn. S. P. <fe
100
21% 21%
5734
60
J
Michigan Central
135
60
95
5,170
123% 122 124
Do pref
420
18
18
17% 17% Mo. Kansas <fe Texas
5,59
3334 391a
39
39
Do pref
5,730
90% 92% 90% 92 Missouri Pacific
148.895
10712 107% *105%109
'M'ash. Chatt. & St. Loui.s
340
37% 37 12 36% 3812
at.of Mex, non-cum.pl
1,000
17% 1911; 17 19% Do 2d pref
700
116%117i4 N. Y.
116%118
<fe Hudson.
14,365
26% 29% -26% 29% N. Y. Central
Chic, cfe St. Louis...
*100 110
*59
65
65
189 '2 I88I2I90
85
53
85
65
85
62
123
189%
21% 22%
58% 59
75
60
94
51
85
63
90
55
100
66
61% 62%
62%
11
Do pref
Rutland, pref
St. Josepli&Gr'd Island.
Do Istpref
Do 2d pref
12,730
123% Jau 2
23 14 Jau 22
813„Jan23
5i'34jau
t;
6^>% Jau
6
38% Fob
9
Nov 157% Jan
15 J'lv 39 Jau
74 J'ly 91% May
§74 Dec §76 Sep
6634 Jau 2
55 Sep 94 Jau
98 Jau 22 90 Oct 115 Jau
48 Jan 25 37 % Nov 69 14 Jau
Ml
Jan 25 73 Sep 89% Feb
62 Jan 25 5534 Nov 81 Jan
19 'a Aug 53% Jan
27 'a Jan 21:
36% Feb
36
16
11034
5534 Sop
2'.:
9
30
Mario 14 Jau 23
i'ob 9 45
Jau 19
Jau M 20i-jJaul9
32
Aug
Oct
Oct
Oct
7
13
Jan
Jau
1514 Jau
58 Jau
24% Jau
86
72
BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Banks
Bid
Ask
Banks
City
Colonial
Bid
Ask
t265
NKW YOEK
405
II
Columbian
350 400
American .. 500 525
Commerce..?) ^204
AmerExch. 215 225 Consolidated 155 165
Aslor
700 900
C'ruExchgeli 340 350
Boweryll
325
Discountjl ... 155
165
Butch'8<feDr 150
East River.. 160
160
Ceuturyll.... 170
Federal U
UO
180
Chase
600
190
Fidelityll
180
Chatham
J 20
340
Fifth A veil.. 3600 4000
Chemical
4000 4100 FUth
300
Citizens' Ctrl
160
First
t585
* Bid and asked prices; no sales were made ou this
i idaie at StockExchange or at auction tUia week.
.
Banks
Ask
Bid
300
200
Fourth
Gallatin
390
(jcansevoortD 140
500
Garliold
German Amij 155
CJermau Kxl; 375
(ieniiauiall .. 600
Greenwich II 270
14tliStreet1l.
Hamiltoiill
..
day.
*
§
Trust
165
220
Ask
147
290
600
1050
330
240
310
500
950
.Manhattaulj. 310
Market ifeFul 230
Mechanics'
300
liauks
Mutuall
Naasaul
Bui
Ask
270 290
180 190
New Ainstor 400 450
Now York Co 1500
N Y Nat Ex. \ 200
.
New
141)
150
231)
M701-J
240
fl75
York... f28S'6
19 th Wardlj. 150
North Amor. 205 215
Northern
115
(
OrioutjilU
225
236
Merciiants'.. 175
1.S5
I'aclllclj
Motropnewli 375
MtMorrisll.. 210
125
215
.
Trail
.'85
Mercantile
J30
5K0
230
.Mercli
Less than 100
Bid
Liberty
Lincoln
Mech &
170
500
Kanover
Imp ifc Trad. 560
Irving
210
100
Banks
Jefiersonll... 140
Leatiier Mfr. 275
..
Kxch.
siuiros.
.•icato
1 lOx rii{iii.-j.
h Assossmuut paid.
Co. cortilleatos.
•,)
.
:
260
I'ark (new).. 460
l^doplo'sll
270
:
:
1
bauks.
(i
470
290
Ex dlviduud aud
Banks
Bid
Plieuix
Plazall
Prod Exohll
Itivorsldolj
..
100
525
65
250
\
Ask
110
1
280
Seaboard
600
Second
600
Shoo lb Loth. H40
Statoll
800
34thHlroot.. 195
12th Wardll. 120
23d Wardll.. 125
Union Exolilj 165
United
rixlits.
I)
206
160
97%
Now slouk.
S
.
.
Stock KeCOrd
1208
—Concludcil—Page
and lowkst sals pbjcks
arocxs—HJutHiST
STOCKS
NEW YOKK
Prill ay
idav] ThuriKlau
March Ji
JJ
Salts 01
the
STOCK
Kange
On basis
lor
01
Year 1U04
lOO-skare
tor /Yevioui
year(li)03)
Uaiiije
lots
Hfek
KXUHANQK
March 25
[Vol. lxxviil
2
Lowest
Shares
Jliyhest
Highest
Loxoest
I
•60
•
•
>
•60
72
43 Si 41 K
72
i-;
>«
40'*
.
.
U
J4>4
14
.SSSi
34 Hi
••
4:.>-j
am
84
S4'4
•.'4>»
II-
r.'i)
2S>,
S,
24
120
21 ^
121 H;
20
20 Sj
21IS1
27
.S7
;<7^
78 Ki 70^
87 "m
76 '4
J;I0
4S%
21»,
85 Si
24
24
24
12k
121
20 >4 20 '4
•22
27
36'4
3l>'4
_. S
3li'4
92
92
92
92
25
'.'OS,
ID
S5Si
•16
4S
1
-
4;:
3C.
»^
-
4.S
•26
48
o^
19
19
42 <«
42V
43
Si
>«
20
lita«
71
VIS*
71^4
:(()
311
311
•i.8
•.13
•22
2S
192
•88
23
'187
93
24
•15
6^4
7S!
«7»s
283« 29
•8 Si 10
33^6
22
82
Si
•3
'4
•18
22 \
92
•112
92
120
SUSi 93
12i>»4 127
•124 125
•V
11
80
67
67
Si
•18'.
'4
I3I4
133^
•69
24
166
106
13
72
12
12
66
•6Sj
Si
S:
24 Vi
166
•64
•26 Si
•36
•74
2SI4
38
78
H
14a.
«27Sj 27 Si
97
97^8
29
30 Si
•70
71
•209 211
•22--'4
23
74
74
734
•76'4
28^6
29^6
49 « 49
-b
13*4
'4
12 '4
•64
66
•26 Si 28
•36
38
74 78
6S1
43
43=b
104Sll04Si
15
15
*84Si 92
128 130
8453 87
26^4 27 Si
97 ig 98 Si
S2978
•69 Si
210
30^4
71
210
227g 227t
74S2 74's.
7Si
2014
7734
77 S.
3934
84
l'^
53
•103
108
684
*'8
JiOS
71*
7
13 Si
51 Si 523^
ll-'^j
26
707,
8
438
6l8
28«^ 32 Si
83
83
314 4
18 20
2134
82
Do
19
Waba.sli
,310
.37.-
San Fran
2,4.'>()
prof
Ijake Erie...
(fe
,
22 Si
Is
39
29
i(.
72
80
66
66
199 Si '195
*70
*63
195
78
66
190
634
•5S2
Do
Do
200
2(1
817 78
42
41
Do
pref. vot.
Istpret
pref
177, Wisconsin Cent. v.
&
tr. cfs.
tr. ctfs.
De
2134
82
314
18
pref
American Ice
63,
Do
Do
Do
7Si
1358
19734
7S
'71s
"4
44 14
Si
1934
19
77 Si 77 Si
39 '4
39
80 Si 81^4
*'8
1'4
38S2
*25Si
3834
734
42S2 44
Si
19
878
39
78
*78l4
82
Si
3914
"b
1^4
38'4
39 Si
29
*25
29
48 Si
"133J
198
107
813
B9
24
163
*liSi
2734
*
64
f
1334
20034
107
14
74
24
167
12
634
50
Fuel <fe Iron.
y
64
pref
•13" 14 Col.Do
& Hook. Coal & Iron.
19714 199
Consolidated Gas (N. Y.).
IO6S1 IO6S2 Continental Tobacco, prel
13
*68i4
24
166
».
ll=fe.
718
7734
108
2734 ("lolorado
133e Corn Products
721^
Do pref
24
Distillers Securit's Corp.
16634 General Electric
11
International Pg,per
ill
64 Si 65
Do iiref
28 14 International Power
36
36
Steam Pump..
74 78 Internat'l
Do pref
7
7
Manhattan Beach
44Si 4434 National Biscuit
Si
6434 65
*26Si 28^4
35
78
•6Sj 10
44S2 45
ao4 104 Si I0414 1041.
Do pref
1434 15 National Lead
15
15
84 '2 92 885 88 12
l5o pref
New York Air Brake
133Si 133 Si *l26 133
843j -84
84
86 North American Co., new
27
27 Pacific Mail
9614 97
96 Si 9734
eop. Gas-L.cfe C. (Clue.)
830
29
839
30 Pressed .Steel Car
69 71
69S2 70
Do pref
210 212 *209 212 Pullman Company
21
2078 207s
21
I > ailway Steel Spring.
7334 7334 • 72
75
ii^Do pref
7I4 Republic Iron & Steel
'7^ 7S=
7
42 Sa 42=6
Do pref
42Si 44
35
*74
19>4
1934
I914
78
878
39 Si 3yS2
•80
85
*76Si
'8
1-4
"^8
38^4
393t.
25
77
Si
Do
pref
Do
pref
3934
Q loss-ShelHeld St. & Iron
'8OS2
85
1^
38
-
7l6
78 Si
7
7>4
51
53 14
13
13
52Si
11
57 14
531^
It's
591*
57 'e 58-'4
30 Si 31
30
30 Si
•103 105 §104 104
•20
24
20
24
110
7
7
78
78
6Si
50
Si
105
7
78Si
7
51S>
634
50 Si
13
13
13 Si
52 Si 52 Si
11
US:
56^8
57 ~e
30 Si 31
105 105
"20
24
53
im
5738
3058
*103
20
110
Standard Rope <fc Twine..
3314 Teun. Coal, Iron & RR...
29 Texas Pacific Land Trust
Union Bag & Paper
7Hi
7834
S,
13Si
5334
llSj
5878
31
105 Si
24
U. S. Cast
40 14
110
103
7
7S,
7
78
78=8
7
78
52 Si
13
54
49
50
131^4
1338
5 2 ''8
III4
58I4
634
52
4934
13
53
pref
6i8
5 2 'a
ll^s
5738
IIS2
Ills
587;,
57
30
31
la
Pipe
<fe
61^
8220 Feb 2 225
431* Feb 8 52
6l8
8l8
•87
162
•175
•205
8S34
88
163
163 Si
200 •175
215
Si
*205
88 14
165"8 162
*175
200
215
»8
215 •205
88I4
88 "4
163
163
200 *175
215 •205
88 Si 888
164
162
2U0 175
215
88
162
2U0
*205
888S2
162
175
215
881^
Do pref
Wells, Fargo
est'n
<fe
Union
Co
Tele'gpli
162 Si West'gh'seEl&Mfgassen
200
Do 1st pref
Mar24
Mario
Jan 19
Jan 6
75 Si Jan 6
3 Jan 8
100
17 Jan 7
Jan
Mar21
Feb 16
Mar22
434 Jan 22
22 Jan 14
01 Si Jan 28
9 4 Si Jan 28
28
30
1618
2338
6,620
3,306
46
100 110
315 85
50,270 122 14
350 123
121
"Too 10
69
83
Feb 2 5
Jan 6
Jan 21 120
Jan 6 91
Feb2ii
Jau 13
Mar 131 Jau 25
Jan 4 12634 Jau 30
Feb 16 130 Jau 25
7
''8
200
i'.oso
35,654
815
2,040
225
1,83U
3,460
1,270
575
30u
400
2,520
300
1,100
182
1,250
2,400
2,700
13,340
1,187
300
280
700
710
1,200
875
425
1,320
200
6,550
200
lOU
801)
35
3,3(iO
8205
810 86
4,700 154
192
:m
ar
Jan
Feb
J'ue 815914 Deo
Aug
Aug
104''8Jiin
9
Dec
22% Jan
35
J'ly
64>-iJan
83
'-2
16=8 Oct
27
i-j
12
95i4Fel>
3234
5514
Sep
J'ly
40 14 Nov
20 Sep
141a Oct
Feb
Feb
27 Si Feb
62 May
38SaFeb
29 14 Fob
Nov 55SaFeb
33
8204 Jan 235
23 Si Nov
10 Si Oct
67 Si Oct
2
Si
M.ar
14 Si Sep
3()34 Oct
80i4Oct
90 Aug
80 Sep
107i8Oct
116 Aug
11714001
7 Si Oct
65 Oct
58 Oct
170 Sep
Oct
5
40 Aug
24 Nov
65 Dec
Jan 4 1218 Jan 11
Jan 25 75 JMarie
Feb 20 78 Si Jan 5
Marl6 201)34 Jan 15
534 Mar 1
Jan 26
7
4778 Febly 4979 Mar 7
2
25 Si Marl
34 Si Jan 27
65 Jan 27 65 Jan 27
1134 Feb 27 I634 Jan 26
9 Si Nov
185 Feb 8 201 Mar 2 3 164 Aug
lolSi Jan 4 109 Sa Jan 22 9434 Aug
1214 Mar 15 2238 Jan 25
15 Si Nov
65 Mar 9 74S2 Jan 23 60 Nov
2234 Feb 29 26 Si Jan 21
20 J'ly
156 Si Feb 24 179 14 Jan 23 136 Sep
1034 Jan 6 1438 Jan 25
9 J'ly
6418 Feb 9 67S2 Jan 23
57 Si Nov
26 Mar 1 28 Mar 12 23 Nov
31 Jan 2 37 Jau 30 28 Dec
71S! Feb 9 74 Mar 14 70 Oct
7 Mar25
6 Si Sep
6Si Mar 21
36 Jan 4 45 Mar23 32 Oct
IOOI4 Jau 16 104 Si Marl7 94 Oct
14 18 Feb 25 16 S: Jau 23 10 Si Nov
8018 Jan 26 84 Si Feb 23 75 Oct
120 Feb 25 13934 Jan 22 105 Oct
80 Mar 12 90 Jau 26 68 Sep
24 Feb 27 33I4 Jan 18 17 Aug
8734 Sep
9 2 '4 Marl2 102S8 Jan 23
26 Si Feb 24 33 .Jan 28 22 Si Nov
69 Jan 2 72S2 Jan 28 62 Si Nov
2U9 Marl4 219 Si Jau 22 196 J'ly
19 Feb 15 24Si Mar 2 16 Sep
7134 Marl 6 78 Jau 4 67
Nov
83. Jau 25
5^8 Nov
6 Si Jan 6
40 Si Jan 4 4913 Jan 23 363, Nov
17 14 Jan 6 22 14 Jan 27 12 J'ly
7434 Jan 15 79S2 Jan 27
60 J'ly
31Sa Jan 7 3934 Mar 16 22i4 0ct
77 Jan 5 82 Maris 67 Nov
34 Mar 4
1^8 Feb 24
34 Sep
34 14 Feb 24 41 Jan 27 2579 Nov
27 Feb 9 29 Jan 22 22 Aug
5I4 Jan 20
4 Mar22
4 Si J'ly
45 Feb 2 4 58^4 .Tan 4 5734 Dec
8I2
634 Feb 18
Jan 21
6 Sep
40 Mar 2 4 46 Jan 22 33 Nov
100 Feb 24 110 Jan 25 95 Aug
8I4 Jan 25
634 Feb 23
6 Sep
75=8 Jan 4 7934 Jan 25 71 Si Oct
51
939 Jan 21
tJ'8 Jan 15
4 Dec
40 Jau 14 57S2 Feb 2 3014N0V
lOSi Feb 6 1458 Jan 27
7 J'ly
41 Jau
54S2 Jan 27 3014 J'ly
9-^8 Jan
12=8 Jau 2 10 Nov
54 '4 Feb
60 Jan 22 4934 Nov
34 14 Jan 25 17 Si Sep
27 Jan
IO6I4 Jau 26 80 Aug
98 Jan
2,000 61
1,500 185
1,800
Jan
Jau
Feb
Jan 2 33=9 Oct 7559 Mat
2138 Jan 27
I714N0V 4134 Jan
72 Jan 27 601-iNoT 93 Jan
25I4
32 'b J au 25
Aug 46 14 Fob
90 Feb 9 82 J'ly 98 Feb
25 Jan 15 24 Nov 41 Si Jan
8197 Jan 27 171 Aug 235 Feb
6 J'ly 2938 Jan
8S2 Feb 15
5I4 Jan 27
2i4 0ct
lligJaa
1838 Jan 27
10 Oct 3739 Jan
9I4 Jan 2
4 Oct 1134 Jan
36 Si Jan 4 16SiOct 42i4Jan
12 Jan 22
5 J'ly 1934 Jau
G.050
1,215
8834
G
J'ly
69 4 Oct 96
85 J'ne 96 ^ Mar
20 >4 Aug 43=HFob
100 Oct 1287»Jan
1714001 373« Jan
Sop 3178 Jan
1 5
24 Sep 48 Jau
79 Oct I2214 Jan
0534
>4
24 14 Mar24
Feb
Fob
78
D('«'
155
IMar'.;
S.'>
>4
Vulcan Detinning
•205
124 Si Jau 13
22 Jan 21
29 Si Jau 23
3934 Jan 13
9534 Jan 21
ti
67
3„)6U
2,200
11,720
1,695
United States Rubber
1,980
Do pref
43,923
United States Steel
247,870
Do pref
3,620
Virgiuia,-CaroUna Chem..
380
Do pref
Virginia Iron Coal & Coke
U S Realty & Construction
Do pref
Jan 22
Jan 26
92isMar24
Feb 17 12 Jan 15
9
47''8Jan22
43 Sa Feb
Feb 24 213, ,T.au27
17
32
Fob 24 41 Jan 2^
14 Si Feb 23 19 ig Jan 22
42 Fob 21 52 Jan 22
22 Feb 24 29 '4 Jan 27
16 Si Jan 4 2178Jai;2()
38 Jau 4 4779 Jan 27
600 2 8 Si Sa,n
10 89 .Tan 22
300 23 •Mar2i
239 81S5 ]Mar 7
51^ Jan 19
300
2=8 Jau 5
300
100 Ills Jau 5
Foim.
pref
110 United States Express...
7
United States Leather
7834
Do pref
29Sa 30
105S2105S2
*20
24
104 Si 104 Si
*20
24
1.
Do
40Si 40Si
.'••(ii4
92
Jan
Jan
Aug 88
148i.jSop 170
16 '4 J nil 22
12 Aug 30
303, Jau2.i
24 Aug 66
52 14 Jan 27 38=H Sep 68 '4
2.5 '8 Jan 2
16'-,, Oct
3678
2734 Jan 23
3,00(1
II4
40
*105
(>
Feb 25
" Feb 23
115 Mar 14
20 Feb 2 3
22 Feb 20
32 Feb 24
87 Si Feb 23
90 Si Feb
J My
56
68
39
Jnn23
21i->
1734
2,150
-39
"25
29
Rubber Goods Mf g
1914
77 Si .Ian
870 Jan 28
49 14 Jan 23
90
3,0li()
*26Si
4>4
mo
iiref
Anaconda Copper
Brooklyn Union ijas
ruiisw. Dock & C.Imij't
Buttenck Co
66
200
'5Si
27 Si 28 Si
64
Do
194
634
48Si 50
*48Si 50
28^4 29
19^•^8 201
107
106 107
13 '4 1338
14
•70
72
7378
823 '4 24 >*
24
169 Si 168 169 S
-1134 12 Si
12 '4 1238
"61 Si 65 Si
65 14 65 14
•26 Si 28
•26 Si 28
•32
•32
35
35
•74
•74
78
78
9
9
*6Sl
•6S1
4378 44
45
44
105
I0234 104 Si 5105
15
15
15
1538
84 92 •84'2 92
130 130 Si I3II4 133
85 '4 8514
85
86
27
30
2834 297g
97
9738 97^8
98
•29 Si 30Si
30
30
871
71
*69S2 7IS2
8210 2IOS1 •210 212
22^8 23
X2034 2034
•7234 75
74S2 75
14
19
72
64
157,501)
330
100
pref
2134 .-American Locomotive...
83
i'.sYi
2,000
5,830
6,269
pref
American Linseed
28»8 3 2 Si
68
200
'oSi
034
15,855
50
28
8
8 Si
8S1
•2869 33
2134 22 1<
883I4 83^4
4
700
300
301)
Si
I8I4
904.935 71 MarU
7,255 j;86SiFeb
Wlieeliuf?
6
9
Mar
17
25 Si 26
10
Si
9 l(i7
Feb 24
Mar) 4
Feb 21
()00
•100
pref
Do
363^
.Tan
1278
,100
Pacilic
prot
44
14Si 17 S.
6S1
24 14 25
-8
9
'
25
43
Do
50
29'-i
41>-i
^fS'oVl
Transit.
938 UnitUy.s Inv'tol
35^8
*15Sj
•47
1834
Union
9
19
19
Twin City Uupid
Do l>ret
83 »8
7934
9018
938
43
43\
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tr. ctfs ..
O. .siook
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}91i8. 91
,
.1;
IS
,23(1
.780
.722
Tolerto UallwHVH <fc I.iKlit
26 Tol. St. ].,. cfc W. V. ir. c.tls
Do pref. vot. tr. ctts.
36Sl
35 Si
1434 17 14
17Si
6
26-8
3 2 Si
22 S.
1
•20
92 V
10
priif.
1)1)
M.
stmpod
'Pexa.s cfc Piicillc
I hird .Vvonue (N. Y.)..
Do
48
I3I4
6Si
13" 13 Si "1314
8
39 Si
79 Si 81 14
38 >4
'25
"
78 Vi
78
6^8
49 Si
Si
29 Si 29 Si
64
4
7'8
*14Si
'48
7S2
lO^a
77Si
3938
*o'J
Si
194Sily5=8 194 Si
106 106 •105
13^8 l3^e *13
72
?72
71Si
2414
24
24
I6SI4
167 170
19'..
•80
•5
13''6
44
53
22
83
64
44
38
29
y
•28=8
189
44
38
•25
•634
433
15
6534
6''4
6S2
84 Si 84 Si
•115 127
-4
84
44
•19
4Sl
•74
Si
12
4336
43
104 Si 104 Si
14^4
8
•3''4
Si
82 '4
Co
v.tr. cfs.
1
J.'lll
'9 (Ml
631 ,090
Industrial
lYIiiicell
'222 226
226
Aiianis Express
malsainaterl Copper...
48>a 49 Si
48Si 50 '4
20 American Car tfc Fouiiilry
20
20 '4 20'.|
7134 7134
Do pref
71Si 72
29 "^ 3078 29 Si 31 American Cotton Oil..,
88 93
Do pref
iSS
88
23 25 American Dist.Telegraph
-22
28
'188 195
190 195
American Express
•6I4
-634
«
8 American Grass Twiuc ..
•4
334 Amer Hide & Leather
334
4Sl
-29 Si 31
•88
93
24
24
192
8192
27 Si 28
80
67
190
'
193-»4 I94I4
10b
30
-5
6^4
64
"l3-C
11^4
74
67
•185
•4ysi 49
•28^4 29 Si
•
•SSl
30
70-8
>4
-6S1
St
21s Southeni
23
S;
1
21
lis
92
))rof
4934 So>itlii>rii I'adflc
..„..
1
'.
190
•uSi
29
222
30
93
28
192
6%
28
222 226
226
48 »4
48 >« 487f
20
20 »8
203t,
71
Si
15
S:
43 S:
•41
43
25
l>o
47='8
231,
8234
1834
193>.
34
Mar
3914
861
".3(56
pref
.'>5
C.<ft E.I. coin stock trctfH
13=8 St. tioum S(mtliw«8torii
2<l
pref
314 .American Malting
•3',
4
4
•18
20
•19
20
Do pref
20 Si •18
21
48^4 4834 Amer. Smelt'g & Relin'g.
4838 4938
483, 48 'e
48^8 487,
4>^Sl 49:^
91^4
9234
91
91
92
92
Do
pref
92
a;91
Si
90S!
V
91-t,
112 130 *112 117 *112 117 *112 117 American Snutl
112 112
87 Si 92
•86
•87 Si 92
Do pref
90
•87S3 92
86 Si 87
126 127^4 12534 126-\ 126 12718 125 '» 127 Si 12538 12638 American Sugar Rolining
*124
124''8 125
125
126
125
125
8125
a23 126
Do pref
124 125
Amer. Teleph. & Teleg...
"9
*9
•9
11
"JSi USi American Woolen
11
10 Si IOS2
llSi
43^4
•74
17
7
22 »4 22^4
8IS1 S3
»234
4
20 s.
4^'^
7ti-\
50
28
19
43 Si
20
17
I
23 >4
36
Po
4438
x82
24
122
St. Ii.«iS Kr.JPMACoctls
l>o l8t prof
72
4438
'152
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33 S)
36 '8 37 S:
16
16
•47
50
•25
28
377,
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18^8
18"b
7 '4
4",
4>«
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17
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7
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27
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71
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4-<s<
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•I6S1
1
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19'»,
634
17
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*222
2Un
47aH
35^ 36 Si
2S
!!"<
'f
•223
37
48
4934
2 2 Si
8534
•8
43«8
19
437,
19'«
3 6 Si
19
>4
80
90
10
43 »
18^8
4-<
=
92
90
44>4
1!M«
M6S1 17
17
•'*•*>
'
11"
Si
14
34
Si
23 Si
118
•20
25 Si
36
92
81»8 85
9
44 <4
19 S,
Si
Ui*
34
I
85
20 Si
36S|
Si
152
21%
24 -V,
•62
73
45
155
4
121
•-»»•'»
76 >< 85
87 S» 91
77«-j
Si
73
44^4 46
'152
159
•14 '4 14-4
34 Si 34 S
51 «,
49
223»
22
853^ 86
117
tfJ
tf2
•«2
•02
7a
4»% 44Vi
l.MVilBVl
14<» 14>-j
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4G-,
21^4
4&>t
21
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Sep
5SaDec
17
48SaJau
31=9
9534
5 18
Feb
Feb
Feb
24SaJan
5278
Feb
99 Si Feb
126 Mar
Jan
Jan
Deo
Feb
14=9 Feb
80 Jau
125SaFeb
225 Jan
1519 Jau
55 Jan
82 Si Jau
9839
13438
123
169
122
J.an
22i9Feb
222 Jan
119 Jan
Mai
35
85i9Jan
3434 Jan
204 Feb
1978 Jan
74i4Feb
73 Jan
46^4
May
89SaJan
May
13
47=9 Feb
10679May
29 Si Feb
95 Feb
177 Jan
124SiJan
4234 Jan
IO839 Feb
6534 Jan
95 Feb
23534 Jau
37 Feb
90 Feb
22=9 Feb
8038 Feb
30 Feb
84SaFeb
72 Feb
97SaFeb
6 Feb
6838 Mai
4034 Jan
15 Jan
7934 Jaa
15 Feb
55 Feb
150i4Feb
15 '4 Feb
1-2
9634
May
28 Si Jan
73 Jan
19i8Feb
58 Feb
3979 Feb
8934 Jan
66=8 Feb
2S'-iFeb
3979 Feb
3334 Jan
70 Sep 81 Jan
Jan 30 8212 Jan 6 4191 J'ly 249 Sa Feb
8939 Mar 17 80i4Sep 93 Jan
Jau
Feb23 17379 J,an 21 130 Oct :21 Jan
Jan 8 194 Jan i9 160 Sep 224 Jau
t)
BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Banks
VanckT
Bid
Wash.H'htsi; 200
"WestSideT... 500
YorkvUle^
Ask
175
..
375
BEOOKLTN
£id
lianks
BROOKLYN
Manufactrs'. 325
Mechauicsli 220
Mercliants'.. 115
Nassau
3dO
Nat City
310
North Sidelj. 230
Ask
Trust Cos.
Bid
N. Y. CITY
Bankers' Tr. 275
Bowl'gGreen 198
BroadwayTr. 140
Ask
Trust Co's
Bid
Ask
Exchange Tr
300
202
Farm Lo & Tr 1375 1425
Fifth Ave Tr 530 560
145
Guaranty Tr
Guardian Tr 175
Kuick'rb'k'r 870
Lincoln Tr... 325
Manhattan .. 475
Mercantile .. 1000
Merchants'.. 200
Metropolitan t606
MortonTrust 890
C'lR'tyB&Tr 440 460
Central Tr'st 1900 1950
City Trust... 275
300
630
185
Trust Co's Bid Ask
Mut. Alliance 200 225
NYLite&Tr 1000 1050
N YSec&Tr 600 620
North Amer. 245 2.-55
Real Est Tr't 325 355
StandardTr't 325 350
Tr Co of Am. 213 218
Union Trust
1375
USMtg&Tr 390 420
Unit States. 1475 1500
Trust Co's
Bid
Ask
BROOKLYN
Brook yu Tr 390
Flatbush
190
Franklin
320
290
Hamilton
400
Kings Co
I
.....3
200
340
890
340
290
L Isl LcfeTr.
305 325
500
250 ....J
Nassau
Commonw'th 60
1025
325 3601
Eastern Tr.. 145 155
Van N'denTr 190 200 People's
220
Empire
Williamsb'g. 235 24ft
Washington 390
300
I'irst
390
Equitable Tr 650 700
Windsor
170
180
900
• Bid and asked prices; no sales on tins ilay.
c iix rights.
i Less than lOJ snares,
dJ.e. Morgau Ji Co. oertiUoates.
sale
at
Stock Exchange or at auction this week.
1
Ex stock dividend, s Trust Oo. oertifio:»tes. II Banks marked with a paragrapU (H) are Slate bftnks
215
17th Wardll. 150
Spraeue
2IOS1
Stuyv'tHtsI, ISO
Unionl]
150
WaUaboutii 150
People'sTi
EoronghTl
150
Eroadwayli.. 300
BrooklynTl .. 130
Cou'yI&BB;, 140
.
Colonial
.
1
N"ew York Stock Exchange—Bond Record, Friday, Weekly and Yearly
OCCUPYING FOUR TAGES
BONDS
STOCK EXCHANGE
Week Ending march 25
N. Y.
V
XJ
U
U
IT
TJ
U
TJ
V
U
IT
Week's
Last Sale
S 28 consol registered. dl930
S28Consol coupon
(tl93U
S 2s consol reg small. .ctl93U
S 2s consol coupsmall.dlitHO
S 3s registered
fcl918
S 3s coupon
tel918
S 3s reg small bonrts..fcl91S Q-F
S 3s ecu small bonds. ./cl'Jl.s H-F
S 4s registered
/tl'JOV Q-J
S 4s coupon
A1907 (^J
S 4s registered
1925 Q-F
S 48 coupon
1925 Q-F
Philippine Islands land purclia8e48
1914-34 Q-F
Range
Ask Low
Bid
Government
U. S.
TJ
J^ice
Friday
Marclh 25
or
IT
S
of
Mexico
Class
Class
class
Bos
10518105 12 107>4 Jan'04
10534 lOC'^ 10534 1053^
IO5I0IO7I4
IO5I4 10534
I0.ii4 107
106^4 Mar'04
106J2l07'4 IO7I4 Feb "04
107 J'ne'O
101)^4 Mar'O-j
lOSHi...
107 107^4 107 Si Mar'04
108 108^4 108 Mar'04
132=sl33i. 13334 Nov'03
13258 133 H, 133 Mar'04
106^4 IO634
10034 108
110^4 112
106^410719
10634 107
Currency funding 4s
Dist of Columbia 3-65s
Louisiana new consol 4s. .1914
Small
Missouri funding
1894-1995
North Carolina consol 4s. 1910
1919
Os
So Carolina 4^28 2 0-40
1933
Tenn new settlement 3s. .1913
Small
Virginia fund debt 2-38... 1991
tis deferred Brown Bros ctts.
102 12 105
to
104^8 Sep '02
100
102 >i
107
119
...
...
J-J
104'8..-
J-J
J-J
103
109i4Oct '00
102>2Mar'02
111 Mar'02
121 Mar'03
106 Apr'03
109 12 Feb '99
102
Feb '04
A-0
136i2J'lV'01
J-J
120 Mar'lH'
96 Mar'04
93 Hi Nov'03
92 \ Mar'04
7'2Feb'04
J-J
J-J
J-J
96
93
99
.
liailroacl
Alabama Cent
laba Midi See
See So
Ry
At CoastLine
Albany & Susq See Del & Kud
Allegheny Valley /beePeniiKK
Alleg & West See Bull
AmDockcfelm SeeCentof N J
Ann Arbor 1st g 4s
/il995
Atch X & S i<"e gen g 48.. .1995
Jttegistered
1995
Adjustment g 48
/i.1995
Registered
;!,1995
R&F
Q-J
93
93
Sale
93
1
A-O 101 Sale lOO^a 101 182
A-O 101 ig Sale 100
lOfi*
6
Nov
89 Sale
S8»8
7
89
Nov
82^2 Jan '04
"29
88189
Stamped
/j.1995 M-N
89 Sale
East OlUa Div 1st g 48.. 1928 M-S
9334 Dec '03
Chic
& St Liouis
1st 6s. .1915 Wl-S
AtlKnox& Nor IstgSs.. 1940 J-D
Atlantic Coast Ist g 4s./i,1952
Charles & Sav 1st g 78.. 1930
eiav is'&
1st gold 0S..1934
Ist gold 5s
1934
at John's Div 1st g 48.1934
Ala Mid 1st gu gold 58 1928
Bruns <fc
Ist gu g 4s 193«
SU Sp Oca <fe G gu g 4s 1918
Atlantic
Danv See South Ry
Atlantic & Yadk See South Ry
Austin <fc
See Sou Pacittt
Bat Creek & S See Mich Cent
W
W
&
NW
Ohiopriorlg3'2S.1925
Registered
/i.1925
Gold 4s
/i,194i5
Registered
/i-194«
Conv deb 4s
1911
P Jun <& DiT 1st g 3^281925
Registered
pl925
P i. E cfe Va Sys ref 481941
Southw Dlv Ist g 3 '^s... 1925
Registered
/il925
Monon Rlv Ist gu g 5s. .1919
Oeu Ohio R Ist cg4i.2S.. 1930
Pitts C16v & Tol Ist g 6s 1922
Pitts & West l8t g 4s.. .1917
altcfe
M
W
J P M «fe Co certfs
Beech Creek See N Y C <fc H
Bellev & Car See Illinois Cent
Bldyu <fe Montauk See Long J
Bruns <fc West See At! Coast L
N Y Erie
R P gen g
See Erie
5s. ..1937
Allcte West Islg 4s gu.. 199a
CI & Mah 1st gu g 5s
1943
Roch & Pitts 1st g 68. ..1921
192'2
Consol Ist g 68
Bultalo <fc Southwest See Erie
Bultalo
Buffalo
M-S
J-J
A-O
A-O
109
1141^ Oct '02
9238
92^4
9252 Sale
134
125^8 Nov'03
112»8Jan'04
95i4Nov'01
109 Mar'04
87 Aug'Ol
911a Oct '03
J-J
M-N
110
.
J-J
9214.
J-J
91^.
J-J
Q-J
A-O
^l^
,
lOl^f, Sale
IVI-S
M-N
Q-F
M-N
88
J-J
y-j
F-A
8838
Sale
101^4
105
95
9434
943.
8SI4
SsOe
90I4 J'ly'Oi:
8834
100
105V2Mar'U4
10934 Oct '(13
1191-^ Mar'04
98 Aug'03
10014
J-J
112
Debenture 5s
Feb '03
Registered
F-A
J-0
1181^.
12234
Mar'04
Apr'9
12II2 Mar'04
122^2 Mai'04
121l2l21l2
1921
Registered
1921
Sinking fund deb os
1933
1933
Registe-red
DesMo&Minn 1st 7s. .1907
Milwcfe Madison 1st 6s. .1905
1910
North Illinois Ist 5s
Ott C F & St Paul Isr 5s 1909
Winona & St Pet 2d 7s. .1907
12118 122^2
MilLBife West
.
Butt& Susq 1st ref g 4s.rfl951 J-J
Mar'04
98
(il951 J-J
Registered
Bur Cedar R & No 1st 58.1900 J -LI 102 12.
Con 1st & col trust g OS.. 1934 A-O 11738.
Registered
1934
ORIEifcN Wist gu 08. 1921
1927
<fe St L Ist gu g 78
1908
C>anada South 1st 5s
^2d 58
1913
Registered
1913
M
1
02-,
17
10234
117
120i2Mar'0S
118 Jan '02
J
A-O
A-O 110
J-L)
J-J
M-S
M-S
103 14
10458 Sale
Carb &
See lU Cent
Carolina Cent iS'ee Seab Air li
Carthage & Ad See 2>l iTCfeH
\»'i^ 103 '2
IO4O8 106
107 Aug't
Shawn
CedRIaE&N SeeBVR&K
Cen Branch U P let g48... 194b J-D
Cen Branch Ry See Mo Pao
Central Ohio
See Balti
&
91 12 Mar'04
92
Ohio
Cen RR & B of Ga col g 68 1937 M-N
Cent of Ga RR Ist g 58..pl945 F-A
Consol gold 58
1945 M-N
Registered
1945 M-N
Istpret income g 58
pl945 Oct
II3I2II7
103
.
Mar'04
107
II6I2 Mar'04
liiti^
106>a.
1
106 Hi
05 "2 Sep '0
66
60
Wl-N
lUJHillSH 113
M-S
M-S
lOlia^iale
J-J
J-J
J-J
101
IOII4
,
MS
84
S4
77
A-O
J-J
J-J
F-A
F-A
J-J
1st
•No price Fri(Uy:
85
Salt
78
92 la Sale
85
84 li
85 Hj Jan '03
90
95
9212
J'ne'OO
103
Nov'Ol
101)
Mar'98
,1133b 1)3
114
114
latest price this weeK.
-'Is
a Due Jan
87 12
82
92 12
90
1
99 Mar'04
92 »2
92
09 's Dec '03
10034 Nov'03
104'6 195
105
99
92 14 Sale
105
1293(jOcr '03
J
J-J
J-J
J-J
J-J
J-J
J-J
113
,
,
....
....
10618107
1107gll3
10934
11334 115
111 113
115
129 la
101
A-O
A-O
M-N
M-N
FA
-U-S
2
11 5
114
1121, 114
Due Apr
FA
M et \V S El (Clue) Ist g s. 1 938
Mil El Ry <fc L 30-yr g 5s. 1926 FA
Minn St lly Istcon g 5s. .1919 J-.l
St JoRy Lt llitPl8lg5s.l937 .MN
St Paul City Cab con g 5s. 1937 J-J
Union El (Chic) Istg o»..1945 A-O
1
e
Ki
Due
12
.u«y
Gns and Kleciric Liiilit
G L Co Islg 5s...l94'i
Atlanta
Bklyn U Gas
(/
Dae
.)
ne
Isl
«
100
10034
10534 107
II412II5
lOCialOOl*
126=2 128
1
98
109 14
IO8I4
116
115 117^6
106^8
100
103
lUl
IO714
10734
111 Dec'02
9858 Jan '04
UoSr
1153^
Mar'04
11338 Oct 'Oo
107 Mar'04
111
Mar04
10934
Feb '0.1
106
169
106
169
107
107
11034 111
10934 10934
114
11434
II4I4II4I4
1293912939
104 104
"9734
9812
"99"
Nov'98
11334 Dec'03
111 I2 Dec '03
103
IIOI2 11012
IO634 Mar'03
105
105
lOgiallOia
104 >a 106
104 IO4I4
108 12 108^9
Mar'04
104
10834 Mar'04
10334 Jan '04
U6I4 II6I4
123
Mny'Ol
106
108
Nov'02
Oct '02
1
ir/i-.,
142iuFeb'0-J
101
107 la Feb '01
109 Sep '03
122 la Jan 04
120 Feb'04
102 '2 103
107 Jan '03
13134
10334 10834
II512II6I4
8I4
129
117>4H8'8
iis'i-
I29I4
12914
1211.1123
120^4
1025.
...I
Mar'04
Oct '03
II414 Mar'04
12938 Feb'04
104 Jan '04
1063g Oct '02
1281-^
129 "2
18 's Sale
U63e 1181a
114
113
9812
98=8
98
10 11538119
logsglll
12 11434 116
69
10559 Nov'l)3
111 I4 Dec '03
12838 Feb'04
11134
108 108
169 173
109 109
I0714IO9
Mar'04
09
DcCOo
I221SI22I9
120 120
101 104
Aug'03
98
9978J'iie'02
99i-jJ'lv'l)2
6934 Sale
10434
96
993yJ'nc'02
87 Aiik'03
69 12
70 468
66 "a 7434
8814 Jan '03
7si-j 781,
7ii
126 73
85
1()4'^104«^
1045h Jan'04
103 '8 103 '9
103"t,Jan'01
...
91 v....
96
...
104'4
...
OlUg Sale
1151a
'9 4 "'8 Sale
11712
1..-
95 14 Oct '03
90 0(;t '03
98 Jan '04
106 Jlar'04
9112
91
1151a 11512
114
Mar'04
2111
94 la
117
61
94
105
100
9334
106
H'l'h
Maro4
106
Feb'04
Oct '99
110
J'ne'02
109i«
Apr'03
1
8OI2
98
106
92»9
nS'allO
114
941.J
116
94
11614
95 >4
117
96
IO91.J 1>L'C'99
79 'h Sale
•79 Hi
7iiV»
79 V 606
7513 80
84-'8J'no'03
99 l)tc'97
J-I)
con g 5H.1945 M-N
/lUuoJly
106
2612 Feb'04
J'ly'03
lO.S
108 Jan '04
173
173
1
11218
9758
16 105
"a
11214 ii's'"
171
Q-F
101
93
1
110^8.--.
IIOI4 Feb'04
11434 115'2 115
US'-.
10958
Uli^Nov'OS
12714
137i2.riy'99
11612
118 Feb '04
106 Sale 106
106
.M-N
91
11534 116^8
41 15 H 116i2Apr'03
U514
7714
Dec '02
Jan '04
los^s
171
109 Is
10734 Sale
96'2
84
Feb'04
126^ 128
ti
eli2
7413
120
113
114i«.
J
J
J
9434
116^ 116
.\I-N
J
101 In
94I1
99
37
Dec '03
Feb '04
130 14.-..
J
12
115
104
1
10034
116
•.19
84
A-O
J-J
1001-2
Oct
106 Is Mar'04
115 Feb '04
IO6I4 Jan'(l4
W
1
16 K,
lOG ....
U2'8....
106 !« ....
.M-N
113
206
94--,
M-N
M-S
J-D
M-b
M-S
M-N
g6sl921 M-N
I
k.
7612
771H334 Apr'02
10434 Ain-'Ol
.\I-S
United KUsSau Frsf 4s.l927 A-O
United Jiys SL 1. Ist g4H. 1931 J-J
Chic SI 40-yi' cons g us. 1936 .\1-N
113!!^
<i
January
'02
90^8 Dec 'Oi
1
84
Sale
Sale
A-O llO^g
A-O 1024
M-N 104=6
M-N
Ext & Imp s fund g 5s 1929 F-A
9713 99
Ashland Div 1st g 6s. .1925 M-S
192-1 J-J
Mich Div IstgOs
Convertible deb 58
1907 F-A
10138 10234
Incomes
1911 M-N
117 117
Chic Rock Isl & Pao 6s.. .1917 J-J
Registered
1917 J-J
198>s J-J
General gold 4s
Registered
198S J-J
10212 1 03 'V
1045810712
Coll trust Series B 48... 1904 M-N
1910 M-N
K4S
1915 M-N
M48
1916 M-N
N4s
1918 M-N
P48
Chic R I & Pac RK 4s. .2002 .M-N
Reeristei-ed
2002 .M N
9212
90
1913 M-S
Coll trust gold 5s
Choc Ok <fe G gen g bs .01919 J-J
..1952 M-N
Consol gold 5s
107 107
DesM & Ft D 1st 4s.. ..1905 J-J
IIOHIIS
I8t2l28
..1905 J-J
13 10334 1 06 12
Extension 4s..
..1905 J-J
1923 A-O
Keok .Si DesM Ist 5s
6534 71 12
1|
68
101
Apr'Ol
May'03
Mar'04
9434,
1
.M-N
Mar'Oj
101
103
112
101
9434 Sale
ifc
1949 F-A
1951 J-J
Clty& SRy Bait 1st g 58.1922 J-D
ConnRy<feLlst&refg4i28'51 J-J
Ben Con Tr Co let g 5s. ..1933 A-O
Den Tram Co con g68..191t) J-J
Met Ry Co Ist gug68..1911 J-J
Dot Cit StRylstcoiigos.1905 J-J
Gr Rapids Ry 1st g58...<xl91(; J-D
Louis Ry Co Istcon g5s..l93U J-J
Market St CRy let g 68.. 1913 J-J
Met St Ry gen col tr g 68.1997 F-A
Bway<fc 7th Av 1st egos 1943 J-D
a; CO
A-O 109 110 10913 Mar'04
I0314 IO9I9
A-O
111 Jan '04
111 111
M-N ll6»4Sale 116
U6'4 48 11434 11614
IIIISCEL1LANEOUS IJONOS—Continued on Next I'nae.
Street Railway
Street Railway
Met St Ry—CCo7i;Rer g 482002 A.O
100 102
Brooklyn Rap Tr g 58
1945 A-O 101 102 102 Mar'04
Col<fc9thAvl8tgu « 5.^.1993 M-S
37 7334 75
74
7334
73^8 Sale
l8t refund conv g 4s
20 02 J-J
Lex Av P F l.sC 'in g 5.m 1 993 .\!-S
10738 l"8i3
BkCitylst con 58.1916, 1941 J-J 108 12 109 108'.^ Mar'04
Third Ave RR con gu 48 2000 J-J
100 100
100 Jan '04
Bk Q Co <fc S con gu g 58.1941 M-N
Thud Ave Ry 1st g5«.. 1937 J-J
10218 11 100 103 14
Bklyn Un El Ist g 4-Ss.l950 F-.4 101 la 1021, 102
Kings Co El Ist g 48
Nassau Elec gu g 48
Since
Last Sale
A-O
A-O
A-O IIO^ 11-2
A-O
»,.1909 M-N 105 107
1909 M-N 104 12
Debenture 5s
M-S 113i2lUii 114
A-O
Hange
Am
Cent Pacific See So Pacific Co
Chas<feSav Sec Atl Coast Line
& Ohio g 68 ser A../il908
Gold 6s
al911
Ist consol g 53
1939
ne do Uar.
Registered
1939
9838 98-'8
General gold 4123
1992
0/ $5 to X
Registered
1992
Craig VaUey Ist g 5s. ...1940
R <fe A Div 1st con g4s.. 1989
2d consol g4s
19S9
Warm Spr Val 1st g5s..l941
Greenbrier Ry Istgugls '40
Chicife Alt RK refg 3s... 1949
Jiailway 1st lien 312S...I950
Registered
1950
Chic Bcfe Q— Cli<felaD5sl905
"2
102 102
Denver Div 48
1922
XUmois Div3i2S
1949
Iowa Div sink fund 5s. .1919
9514 96
Sinkingfund4s
1919
Nebraska Extension 48.1927
9i'^"9'2i4
RegLstered
1927
7
8
Southwestern Div 4s
1921
Joint bonds See Great Nortli
Debenture 5s
1913
Han cfe St Jos consol 6s. .1911
Chic & E 111 1st 3 t cur 6s. 1907
1st consol g 6s
1934
General consol Ist os
1937
Registered
1937
Chic & Ind C Ry 1st 5s. 1930
9312 Chicago & Erie See Erie
92
98^8 101 1„ Chic 1-n & Louisv ref 6s. ..1947
99141011*
Refunding goldSs
1947
^74$ 90
Louisv N A <fc Ch 1st 6s.l91li
82 12 82 "2 Chic Mil & St Paul con 78 1905
87 Hi 8934
Terminal gold 5s
1914
General g 4s series A..el989
Registered
el9S9
Generaig 3123 series B.el989
91
94%
Chic& LSuDivg5a....l921
Chic & Mo Riv Div 5s. ..1926
Cliic& PacDiv6s
1910
112»8 11258
Chicfe P Wist g 5s
1921
Dak <fe Gt So g 5s
1916
109 109
1924
Far <fe Sou assu g 6s
1910
Hast& DDivlst73
1st 5s
1910
1908
I & D Exten 1st 7s
Lacrosse & D 1st 5s. ...1919
Mineral Point Div 5s
1910
1910
So Mian Div Ist 6s
92^8 95I4
Southwest Div 1st 6s. ...1909
92 14 Q2^
WiScfe MinnDivgoS
1921
IOOI4 102
Mil <fc No 1st
L 6s. ...1910
lOlSg 10138
1913
Ist consol 6s
1915
Chlc & Northw cons 7s
87 12 8934
Extension 48
1886-1926
Registered
1886-1926
92 12 97
General gold 312S
1987
87 14 89
Registered
pl987
Sinking fund 63. ..1879-1929
IO512IO512
Sinking fund 5s. ..1879-1929
1879-1929
Registered
119H2122
<fe
<fc
March 25
M
102
1013eFeb'04
94 Nov'03
88
88
95
A-O 120
J-J
94 14
94
O^i^Mar'Oi
94 Is Sale
Q-J
M-S
K6
,
11234
Week's
Eange or
11134 11134
1;
1906 J-J
190G J-J
190ti J-J
1920 J-J
1924 F-A
JPrice
Friday
Central ot Gn—C Continued)
Bid
Ask Low
Jiigh iVo Low High,
28 '4
2d pref income g 5s
29 Sale
29 14 20 28
pi 945 Oct
32
3d pret mcome g 5s
18
5
pl945 Oct
18
18
20'4
18
•85
Cliatt Div pnriiioii g 4s. 1951 J-D
92 Aiig'02
Mac & Nor Div 1st g 5s. 1946
103 a
104 Feb '04
104 104
Mid Ga<fc Atl Div 5s
102 4
1947
102 J'nc'99
Mobile Div Ist g 5s
104 h
1946
103 J'ly'03
Cent of N J sren'l gohl 5s. 1987
129'.^
..
12834
12834
128 131H»
Begistered
127 12818 128'-^ Mar'04
r.^8'8l30ia
/tl 987
Dock tSc Imp gu 5s. .1921 J -J 111
11134 Mar'04
nil* 11213
Leic Hud li gen gug53 1920 J-J 100
'03
104
Deh <fe Wilks B Coal 5s.. 1912 .M-N
105 Dec
'<
lOl
Con ext guar 412S
(7l91(» Q-M
101
101
1100
102
N Y <fe Long Br gen g 4s 1941 M-S 1011
Clies
M-S
ser 1
93
....
95><.Feb'02
I'hese are price s on the t>a sis 01 /our marks
92
s
98% Mar'04
g Os of 1899 Q-J
1 Jiese are pr ices o u the b
C 4s
"2
108
13234 i'ii"
11134 Mar'04
S'lzs
A 4 to 5
J
Xo Low High
State Securities
Alabama
January
107
STOCK EXCHANGE
Week Ending :march 25
N. T.
Since
Migli
Foreign Government
Frankfort-on-Main
BONDS
£ange
5.=
114
Ouo Aug oDue Oct
113'\,
;>
114
II
11
234
Due Nov sOplion
114
.".4e
—
.
Bond Eecord
IJIO
EXCHANOK
S. T. 8Tl>CK
CMC*
St
-
1.
Hatch 25
BUL
l'<
..
.
(.
J-P
J. I)
••sli'l^
M-N
...ims' A-O
s;
Chu
-...I'.'IT
A U
J.J
u i. i.-svl-'-'- gsi
A \V MloU Sff I'lTP Marq
CUtK! u A- li ult ^«! (." K I 1% 1'
Cm K * 1> oonsol s t 78...iyor)
ly^T J.J
au Kout 4'y»
Ctii 1) tV 1 l»l gu t; 58...1U41
-; lu>i
.
«;i
xo
C
1
L
St
Oln S
C
as
C
Jd
Cl«!«rtif 111
H>iHi .\1-N
MS
Spr<k Col Uiv 1st K 48. .1940
Val Ulv l8t g43...1tUu J.J
L
C
iV
COUBOl
let Ki'l'lls
KeiristortHl
Cln S
t>8..1l'L'U
fcl'JoO
COCA
1U14
iyi4
ixeneral consul gold Us. 1934
Kejfistoreil
1934
Iml
&
isi prof 43.1940
<i Iml & \V isi pt 68...dl93.S
Peo Jc K&st l8C cou 48. ..1940
income 48
1990
CI Lor ito \Vh cou Ist k 68.1933
Clev tfc Marietta 6'<«Peuu RK
Clev Jb Maliou Val g 58... 1938
Cler <ft Pitta See Peuu Co
ColMldUuillst g48
194
Colorado & Sou l8t g48...192y
Ic<>usol78
m W
Colani <fc GreeuT SC4 So Ky
Col dB Hock Val See Hock Vai
&
Col Conu <b Term See
13a
cons 68.1921
Istgouernl gold 5s
1942
Mt Vernon Ist gold Os.. 1923
Sull Co llraucli Ist g 5s. 1930
Ev Jt lud Istcon gu g68..1926
1301a 132
Di-o '03
13014 131
12934 1293.
12 1
)213i
1V1)'(I4
131
IHOVt...
129', Miir'114
...
122Sj1-J»'« 122'-jMai'04
129^
80
...
80
lloSi...
110
78
110
80
Mai-04
82;'4
110
104i-jDoc'03
113 Oct '00
113 Dec '03
10-1 --Hj
112S..
li
J-J
J-J
127
100
geagiooHj
lOli-jOcC '02
98
101»a
Feb '04
<fc
See
Western
MK
<fe
99 Jan '04
102 Doc '02
94ia.A.ui;'03
105 Jan '04
1001-1 Mar'04
N Y Lack<fc W
1923
Term <fe Improve 43
1923
6yr Bing & N Y Ist 78. .1900
Warrenlst ref gug3'as. 2000
Del di Hud Ist Pa Div 78.191"
Registered
191
Alb & bU3 Isi cou gu 78.1900
Registered
1900
Guar gold 68
1906
Registered
19O0
Bensifc Saratoga Ist 7b. 1921
Registered
1921
Del Riv RR Brjilge See Pa RR
Deuv <fc R Grist con g 48.1936
Consol gold 4'iis
1936
.\|ir
65
A-O
128
SO
Improvement gold 53. ..192b
RioGr West 1st g 43. ...1939
Consol and col trust 4s 1949
Utali Cent Ist gu g4s al917
Eio Gr So gu See Rio Gr So
Den & S West gen s f k os 1929
_Des iloi
Ft
ifc
SeeGR&LF
1)
Des M & Minu
Dea Moi Un Ry
A-0
A-0
A-0
A-0
116
eo^i
Sale
J-D
J-J
A-O
A-0
951a 98
60
66
112iaH2ia
Feb'04
116
CO I2 Mar'04
86 126
861a
56
84
116
63 14
89 12
112%112«8
I29I4 1291a
.
I3II4
140
I3114 20 130%131i4
Oct
'98
129i2 12818 Mar'04
127 I28I4
Illi4ll4'a
IOOI4IOOI4
Mar'04
101>2....
IOOI4 Jan '04
110 ....
1097, Feb'04
102 Feb '03
133»8
137 Feb'04
149 Ang'Ol
iosss""!: 108 Jan '04
122 J'ne'99
106 106Hs 106 Mar'04
112
....
10978 10978
137
137I4
108
108
ibe" io6"
111% Feb '02
14334 Nov'02
I4712 J'ne'02
97=8 Sale
971a
98
9534
9812
106%May'03
104 105 10434 10434
95 >2 96 "ii 96 14
9614
Sl>a 8512 85 Jan '04
90 ....
97 Jan '02
103
Jan '04
36
35
J-D
Range let 5s.. 1937 A-O
Registered
1937 A-O
IiX3i& Iron
10434
97
8312 85I2
94
g 58. .1937 J-J
.l?aslo£Minn ,S«eStPM&M
XLiast Ten Va & Ga nee So Ry
Elgin Jol & East 1st g 5s. 1941 M-N
Elm Cort & Xo See Leh & Y
Erie 1st ext gold 43
1947 M-N
N
W
W
geia
94
,
sale
111
Feb '01
Term
-See
St
93
Deo '03
93% 94
79
80
79 >s
79*B
110i«lili2 IIII4 JaJi'04
109>ullli2 111
7912
84
llOislll'4
115
1141a.
114
Jan'04
"85 "sale'
J-J
FA
90
90
125
104
M-N
A-O
11734118% II8I4
104
112iall2i2
UOialll
114
1141a
See
N YNH
Detroit City
8534
8834
90
A-O
1923 J-J
Dei Gas Co con 1st g 5s. ..1918 F-A
113i-.i
<fc
Fuel See
P
g 58. .1932 M-S
G <fe C Co
Gaaifc ElecBergCoog5s.l949
Gen Electric deb g 3%s..iy4L
1st g 58.. .1915
Jaudson Co Gas Ist g 5s..l94b
Kings Co El L P g 5s.. .193' A-O
Purcliase money 6s
1997 A-C
Ed El II Bkn 1st con g 48 193b J-J
GrRapGLCo
&
103% Mar'04
10234105%
105
72%
74
71
10134103%
<fe
92»4
94% 993
104
102
103
90% 94%
90
93I4
103
102
103%
105%
103% 10534
91% Feb '04
H
10434 106 li 10434
100
Uinois Central 1st g4s..l9ol
114
100
J'ne'03
114
Oct '03
113%Mar'00
Registered
1951
1st gold 3ia8
1951
Registered
1951
Extended let g 3 48
1951
1st gold 38 sterling
1951
CoUT'rust gold 48
1952
Registered
1952
Tex gold 4s.... 1953
Registered
1953
Cairo Bridge gold 48
1950
Louisville Div gold 3 128. 1953
Registered
1953
Middle Divreg58
1921
St Louis Div gold 3s
1951
Registered
1951
Gold Sias
1951
Registered
1951
Spring Div Ist g 3i2S...1951
Western Lines 1st g 4s. .1951
Registered
1951
BeUev & Car Ist Os
1923
Carb<fe Shaw Ist g 48... 1932
Chic St L &
O g 5s.. .1951
Registered
1951
GoldSias
1951
Registered
1951
Memph Div Ist g 4s... 1961
Registered
1951
St L Sou Ist gu g48
1931
Ind Bi & West See C C C & St L
Ind Dec <&
Ist g 58
1935
Ist guar gold 58
1935
Ind lU & la Ist g 48
1950
Intife Great Nor let g 6s.. 1919
2d gold 58
1909
3d gold 4s
1921
Iowa Central Ist gold 5s. .1938
Refunding g48
1951
Jefferson RR See Erie
A
<fe G R
See
&
S
L
S
Kal
an & Mich See Tol <fe O O
K C Ft S &
See St L <fe S F
99 % Oct '03
94 Mar'03
99% Oct 'OS
,100
10334
LN 0&
103
101
101
91
103
102
.
10234
Sale
96
941a
102
Feb'04
103
93% 95
May'99
85% Mar'04
91% Oct
101% Oct
100
123
118
87
11934
'03
May'Ol
Nov'98
Nov'03
11934 Mar'04
87 Jan'04
.
1191a.
92
85%
124
90
119
126
120
80
'03
'99
Nov'OO
103% Sep
105
.
87
102% Deo '03
102
101
W
103
123
91
N
Nov'03
Oct '01
104%May'02
106%Mar'03
110
80
106
106
Mar'02
107% Sep '03
107%Deo'02
...,
...
98ial01i4 101
119 121 119
98I4 Sale
98
70
70
110
110%
la
89
85
87
Feb'04
Mar'04
99
11808
98%
97
Nov'03
110
Feb'04
101
119%
100
109%112
89
89
68
70%
M
KC&MR&B
SeeStL&SF
Pacilic
Kan
See M K & T
Kan City Sou 1st gold 3s.. 1950
1183e
69% Sale
8534
93 la
10 II712 118^4
Lake
Erie
<&
Wist g 58.. 1937
2d gold 5s
NortJi Ohio Ist
1171a 119
112% Sale
1941
gu g
112
58.. 1945
S See N Y Cent
Lehigh Val (Pa) coU g 68.1997
Leh Val N Y Ist gu g 4ias.l940
Registered
1940
Leh V Ter By Ist gu g 58. 1941
L Sho & Mich
106
11334
107%.
Unified gold 4s
11634
99
104
60
70
97% 98
65
1938
1922
1932
1949
1934
BMyn & Mout 1st g 6s. .1911
1081a 1081a
N i:B&MBl8tcong5al93o
1927
N Y<fe R B Ist g OS
100
'
97% Mar'04
105 J'ne'03
96
65
9734
111
Ist consol gold OS
111
85%
105%
112
61% Oct
'01
88
Feb'04
10734
10434
Dec '00
10434
119% 120% 119 Mar'04
93
93%Mav'03
106% Sale 106
107
89% 90
90 Feb'04
IiacGasLoIStLl8tg58.el91t- Q-F
Milwaukee Gas L 1st 4s. .192'; .Vl-N
* No price Friday; latest bid and asked this week.
aDueJaa
1995
Peo Gas ife C 1st gu g 6s. .1904
2d guar goid 6s
1904
lat con gold 68
1943
88
88%
Reiunding gold 5s
1947
104"
10
ChG-L&Ckelstgug5s 1937
ib5%
Con G Coot CUlatgug5s.'36
Eq G & F Ch Ist gu g 6s. 1905
117% 119
Mu Fuel Gas Istgu g 5s. 1947
16 105 107
Syracuse Ligliting 1st g 5s. '51
Trenton G <fe Ei 1st g 5s. .1949
87% 90
6
.
112%
100
Mar'03
118
Jan '03
100
99
111
97
105
Sale
90%iSale
5s. .1910
NY&QEl LcfeP 1st cou g 5S1930
N Y & Rich Gas 1st g 5a. 1921
Nov'03
115%119
110% 112%
111%112
117
10434 106
106
106
105 Jan '04
113%J'ne'03
109% Oct '99
107 Jan'04
94 Dec '03
1003, 100
103
107
NYGELH&Pg
6s.. .1948
Purchase money 4s. ..1949
Ed El
12
105
105
107
107
1003,
Feb'04
Oct '00
Feb'04
100
101
101%
99
99%
10034
Jan '02
115% 116
36
98
9933
i09"ib9%
Page.
Gas anil Electric I..iglit
Mut Ij\iel Gas Co See Peop Gas
Newark Cons Gas con g 53 1948
g
1st couv g
Feb'04
105 % Mar'03
112 Mar'02
112 % Jan '02
112 % Apr '02
115
115 % Feb'04
110 % Dec '03
112
9834 99
98 %
99
100 Jan '02
109i-ill2
109 Jan '04
113 114% 113 Nov'03
1911
109iall0'2
65
117
112
112
100% 101
Jfov'03
Feb'04
69 7(.
Oct '00
/il931
131
1st 5s
63
110%Feb'02
107
102%
N
EIC&N
Ist oonsoi gold 4s
General gold 4s
,
108%
Registered
1941
V Coal Co 1st gu g 5s. 1933
& Y Ist guar g 4a. .1945
Registered
1945
Ist gist pi 68.1914
Gold guar 5s
1914
Debenture gold 5s
132
1131a 1131a
69%
1950
Kentucky Cent See L & N
Keok & Des Mo See C K I & P
KnoxvUie <fc Ohio See So Ry
NorShB 1st con ggu5s 01932
Louisv & Nashv gen g 6s. 1930
100 102
Jan'04
Gold 58
1937
10314104
113i2Jan'04
Unified goid 48
1940
1131a
1131a II312
Registered
1940
lll%Mar'04
goid
CoU
trust
5s
1931
....
111
111%
111»B
...... IO8I2 1081a
E H & Nash 1st g 68.... 1919
lOS-ai
3 106ial08ia
9812 102
.EdElIUBkn SeeKCoEL&P
Ed E III SeeN YG&ELH&P
Eq G
10214103151
W TexSeeSeeSo So
Pac
Pac Co
&
Ferry gold4i2S
Gold -la
Aug'02
132 Mar'04
113i2Jau'04
1131a Nov'03
108 la Jan '04
110i2Max'04
109
J-J *110
GasgSs
£qG LN Y 1st con
104%
72%
94% Sale
HV
ailSCELLANEOUS BONDS—Continued on Next
G & C Co
XJon Gas Co See P G & C Co
W
Leh & Hud R See Cent of N J
23 1311s 135% Leh <fc WUkesb See Cent ol N J
Leroy & Caney Val See Mo P
961a 9812 Long Dock See Erie
9812 981a Long Island
Ist consol g 5s
A.1931
8634
84
Gas and
See P
S
Leh
Leh
106
M-N
FA
FA
115
125i2J'ne'03
A-O 13212
M-N II5I4
J-J
115
111
May'03
981a Jan '04
S5ia
841a
8534 Feb'04
J-D
J-J
111
Jan'04
100
lOl^eJ'ne'OS
130l4l31»4 13118 13114
130 Aug'03
97 la Sale
97'4
9712
M-N
Regis $5,U00 each. ..1943 M-N
MidRRoiK J Ist g 63.1910 A-0
VVUkife Ea 1st gug53. 1942 J-D
Ch G L & C Co
L
Registered
1999
Col tfe
1st ext K 48. .1948
Registered
94
94
75iaAng'03
M-S 1121^115 1121a 1121a
M-S 107 10818 11034 Feb '04
A-O 11218
114
114
Teij-miual Ist gold 5s. ..1943
Electric Light
Buffalo Gas Ist g os
1947
1041*106
72
74
M
36
1916 J-J
1919
3d ext gold 4^28
192
4tli ext golQ 53
1920
6th ext gold 4s
1928
l8t consol goid 78
1920
.stconsoig tuiid7s
1920
Erie 1st con g 4s prior. .1996
Registered
1996
ist consol gen lien g 43.. 1996
Registered
1996
PeuucoUtr g 4s
1951
Bufl^' Y<fc Erie Ist 7s. .1916
BtLft&S
gold 6s
1908
Clue <fc Erie Isl gold 5s. .1982
Jeft RR l8tgug5s....al9U9
Long Dock consol g 6s.. 1935
CoalifcRR 1st cur gu 63.1922
Dock & Imp Ist cur 6s. .1913
N Y <S: Green L gu g 5s. 1946
.N Y' SU3 cfe
1st ref 5s. 1937
2d gold 4'2S
1937
General gold 5s
1940
Mar'98
103%
<fc
NW
2dextgoid5s
Ist g 6s... .1921
HAH
Han
ousatonlo
i-
129 14 Feb'04
See Ch <fc
let g 58..1917 JI-N
& Atl
105
Hah
116
i28"i28" Houst&TexCen
1121^ Jan '04
.
J-J
J-J
105
RloGr l8tK48...192S
Har lib S A See So Pao Co
Houst E
Mar'Ol
.
M-N 14118.
M-N 140
Det ii <fc Tol See L S <fe il So
Det & Mack let Ueu g 48.1995 J-D
Goid4s
1995 J-D
Det Sou Ist g 48
1951 J-D
Ohio Sou Div 1st g 48. ..1941 MS
2d 63
Dtil So Shore
129
112
Deo '03
J
1*
Registered, /i
1921
Greenbrier Ry See Ches & O
Quit tfe S I lat ref & t g 58 61952 J-J
<fe St Jo
See C B & Q
99
llOiallOia
65
65
112 12 Feb '04
Sale
117
115>a.
J-D 131
J-D
J-D
JI-S
DenC
107
103%
116
2 103
1
M ai
99
105 105
100 la 101
961s Mar'04
97
M-S 109 »8.
M-N 129
M-N
A-O
F-A
M-S
St
<fa
J'uo'02
January 1
/,()i»
GaCHr&Nor
Seji A Line
Georgia Pacitlo See So Rv
Gila V G
Nor See So Pao Co
Qouv & Oswegat See N Y' Cent
Grand Rap & lud See Penn RR
I
SU^a
F-A
M
Gt Nor—CBifcQcoUtr4s 1921
104it»NoT'01
A-0
Ist 6s. ..1921 J-J
Conatruclion 5s
Ch
.SV« I'oro
99»4 10134
T
78. ..1907
ilorris* Kssei lst7«...1914
Istcousol guar 78
1915
Registered
1915
1st ref gu g 3'-2S
2000
See
M
116
116
103
112
.si/iofl
11H»
O & Penm see Sea Air Line
U D Co Ist g 4 '•2S.1941
Klii
Kurt St
Ft Wdb
Ft Wdb
Gray's Pt
101^4
llo'2Mar'04
120 J'ly'03
130
Q-J
J-J
F-A
So
103
112
Hock Val Ist consol g 4 las. 1999
*110<^.
A-0
J-J
tVb
n t A PiMO
Sale
35 CO
High No
g»
A' (171
Jfc
99
98 101
99
101 "tj 101^4
.. 101
i'l
100
93
105
101 i-a
J
J-D
11
no
Ist
h
,t>'e«
6V(!CM<fcStP
Waco
alias A;
Del Lack
&TH
Ask L010
hid
VTal
of 1882 Ist 58. 1913 A-O
Georgia <fe Ala See Sea A lane
Pad Kirs Ist g 4S.1943 A-0
Dak&GtSo
Pltu See Peuu Co
<fi>
1.,''argo
/ > al
W
N
A
Krle
A.-li)3ii
Cousi>l sink luuilTs
Couu
M
CI cou l8t g6s..ll''J^ J
Jb
133
93
O C C A St L
C C C St L
*>« H H A P
SI L Kou 48 I'.l'JS J-P 100
BegtstiTtHl
1
1S3
March as
2.'>
High No Low High
.i*«
Hfii
W
C
131
A Mah
ii
Clov Cin C A!'.';%;• J-J
Cairo i.)iv Isi >:olil 4s
Cln
Jb M l>iv l8t g4s.linil J.J
8» Linv Idl colU K4s..iyi'0 .\I-N
W WSt
1
I'll
s.l'.'Hi'
J.J
Ctiio
CIiic
January
hlvaiis
...ii';«t>
Week't
lianye or
Last Sale
Price
STOCK E.\CHAN(}1C
WkKK ENDINd MAUCH
N. Y.
till
I
OUll
I-
AtklLota
[Vol. Lxxvin.
2
KONDS
Hang*
WeeK-t
}iangf or
J.att Sait
.'ViiliK,
— Continued— Page
*
107
90%
107
90^8
10234 103 \
102% Mar'04
114
101
97
114
101
100
101%
101%
101% j'ly'o;-;
100% Dec '03
118
123%
123
103
108%
1
Aug'03
Feb'04
Mar'04
123^2 Mar'04
104 Feb'04
10934 10734 Mar'04
1051ail07% 106% Mar'04
101%1IO2 101 Mar'04
.105 100 Nov'OS
103 la.
Due Feb dDueApr eDueMay ADueJ'ly fcDueAug
109
72 107
30 90
10834
9334
102% 105%
100% 102
100
100
11834 124
104
104
106%
10734
104
101
106
hi
10134
Feb '01
Due Oct «Du6Deo sOimoti
aalo
Mar.
Bond Record— Continued— Page
26, 1904.]
BONDS
STOCK EXCHANGE
Week Ending Maech 25
Loulsv
<fe
L.Cin<fe
•?a,
Range
Friday
March 25
or
Last Sale
Istgold 6s. ...1930 J-J
125
124
....
NOcfe M 2(1 gold 6a
1930 J-.T 115 ....
PensacolaDiv gold 63. ..1920 M-S 109 111
St I. Div Istgold 6s
1921 M-S 119^8....
2d gold 3s
1980 M-S
Hender Edge 1st sfg 6s. 1931 M-S 105^
Kentucky Cent gold 48.. 1987 J-J
L&N<feM<feMlstg4Ji28l945 M-S 102'2.
L&N-SonthM Joint 4S.1952
Registered
1952
NPla& S 1st gug 58.. .1937
Pens <fc Atl Ist'gu g
S & N Ala con gu g
J-J
J-J
F-A
F-A
F-A
1910 A-0
6s.. 1921
5s. .1936
Sini lund gold 6s
L& Jeff Edge Co gug 48. .1945 M-S
L N A Ch .See I & L
Mahon Coal See L S & M S
Jan
'04
12334 124
12234 Aug'03
116^8 Mar'02
119
75
113
119
119
111
115
115
110
119
98
West Shore
89
92
Lake Shore gold 3ia8
115
115
115
116
Dec'03
Mar'03
dlh.
911a 971a
<fe
anhattan Ryconsol4s.l990
Registered
1990
Metropol El 1st g 68
1908
Mans
Coloniz g 5s.. ..1934
McK'pt cfe B V See N Y Cent
Metropolitan El See Man Ry
Mex Cent consol gold 48. .1911
Ist consol income g 3s.al939
2d consol income g 3s..al939
Equip & coll gold 5s
1917
2d series gold 5s
1919
Coll tr g 4Vs 1st Ser....l907
Mex Internal 1st con g 4s. 1977
1977
Stamiied guaranteed
W
Mex North Ist gold
6s.. ..1910
Mich Cent See N T Cent
Mid of N J See Erie
See Chic & N "W
MU L S &
A
A
104
J-J
108«8 Sale
104
104
10378 Dec '02
lOSSg lOSSg
Sale
103
104
107i4l08«8
J-D
J-J
64
66
65
J'ly
J'ly
13V,
13^8
I3I2
7
8
Mar*04
13^2
64
71V.
67
10
1234
1634
7
934
36
91
9 Via
A-O
A-O
FA
9414 Sale
9414
93>-j
M-S
90»8J'ly'0]
MS
W
St
Iowa Ex
Ex
A-0
J-D
M-N
M-S
Minn & St L gu See B C R & N
MStP<feSSMcong4intgu'3S
J
M jfe P Ist 58 stpd 4s iut gu 1936, J J
H 8 S M A 1st g 4 int gu 192^ I J
Minn Un See St P M &M
Mo Kan Tex 1st g 48. ..1990 J-D
iim
<fe
^1990 P-A
1944 II-N
2001 A-0
l8textgold58
St L Div Ist ret g 4s
Dal <fe Wa 1st gu g 58.. .1940
Kan C&Pac 1st g 4s.. .1990
Mo K & E Ist gu g 5s. ..1942
TotT 1st gug58. 1942
Sher Sh <fe So 1st gu g 5s. 1943
1906
Missouri Pacific 3d 7s
1920
Ist consol gold 6s
Trust gold 58 stamped. al917
Registered
ol917
1920
Ist coll gold 5s
Cent Br Ry 1st gu g 48.1919
M K&
Leroy&CVALlstg5sl926
Pac R of Mo 1st ex g 4s. 1938
2d extended gold 5s. ..1938
St L Ir Mcfe Sgen con g 581931
Gr«ls oon stamp gtd g 58 1931
Unified & ref gold 48.. 1929
Riv & G Div l8t g 48.. 1933
1933
Registered
Verdi V I c&
1st g 5s. 1926
Mob & Birm prior lien g 58 1945
1945
Mortgage gold 4s
MobJ&K Clsl cons g 58.1953
Mob & Ohio new gold 6s. .1927
W
llo\
IMkllS
9553 96
99 Sale
7734 78 '4
10034 Sale
80 Sale
91
J-J
110 113
115 »2 Sale
J-J
»ia
,
86 "a Sale
91
J-J
J-J
J-J
IIOJ4.
J-D
123Ja
L & Cairo coU g 48..el930 Q-F
Guaranteed g4s
1931 J-J
& O coll 4s See Southern
St
M
Dec '03
114iall5i2
96
98
Apr "01
87
Nov'Ol
98
99
78
771a
9934
961a 99
75'a 81
981a 10084
10034
80
80
80
80
102 102
Mar'04
86
8834
Mar'04
108 111
100
100
30 99 10134
103 Mar'04
100 103
10738 Mar'04
10738 10738
II914
120
11838 120
104 107
1041a 105
Jan '04
102
86
111
1.;
1051^
92
100
101
10534
91 ''a 93
Feb '04
May'Ol
Feb'04
1091a Mar'04
II314
1151a
10934 Oct 'Oo
87
861a
91
10334 107 Is
91
111 la Mar'04
91
.
84
87
91
9114
Feb '04
cfc
J-J
N
NatofMexpnor lien 4^8.1926
1951
consol 48
Ist
NewH&D SeeNYNH&H
N J June RR
See
J
A.
120
111
87
92
12334
124
93
114
92
Deo '03
130 Jan '04
94 Jan '04
114 Jan '04
88 la Mar'04
98'aNov'03
101
76
76
NH&
NY NE
97 '8 Sale
J-J
1997 J-J
Debenture 5s of... 1884-1904 M-S 10038.
Registered
1884-1904 M-S
Eegist deb 5s of.. .1889-1904 M-S
Debenture g 4a.... 1890-1905 J-D 100»4
1890-1905 J-D
Registered
1905 M-N 101
Debt certs ext g 4s
1905 M-N
Rel^stered
88 Sale
Lake Shore foUg 3 ><2S... 1998 F-A
86 14 Sale
1998 F-A
Registered
86 Sale
Mich Cent coUg3i2S.... 1998 F-A
Registered
1998 F-A
Beech Creek Ist gug 48. 1936 J-J 10534
Registered
1936 J-J
1936 J-J 112
2d gu gold 5s
Beech Cr Ext Istg 3 HjS 61951 A-O
.
.
7ti
Feb'04
76
120
112
1221a
J-J
M-N
FA
FA
9734
Jan '03
II2I4II21*
122 122
112i4Jan'(i4
122 Jan '04
127 J'ne'02
110 Dec'Ol
lOOiaNov'OO
J
971*
J-D
M-N
M-N
A-O 1151a.
A-O II718.
F-A
M-N
104
Mar'04
y7
Sep
100
115iall."'ia
115>aMar'01
1 17 18 Mar'04
1133j Jan'02
1041a
Feb'04
104
103
May'03
104
.
1041a.
97
97
'03
I17i6ll7ia
104
104 Vj
104
103
1-2
'^l^
con>4L5a..l937
1905 J-J
l8t 7s
124
i5l»4Apr'03
97^8
Improvem't& ext g 6s.. 1934 F-A
New River Ist g Os
1932 A-0
N & W Ry Ist con g 48.1996 A-O
Registered
1996 A-O
Pocah C & C Joint 48.. 1941 J-D
CC&Tlstgug5s
1922 J-J
Scio V & N E Ist gu g 48 1989 M-N
North lUinois See Chi
NW
North Ohio See L Erie & W
105
96
70
71 la Sale
100
10 73
101
7634
19
9634
98%
98
98
100
102%
100
lOO^B
100ial00«8
99iaNov'02
8634
S8
86 14
86 14
86I2
86
90
87 »3
9U
11034 11134 111 la
Feb ',04
127
123
125
ATig'03
130
12611 127
127
.
981a Sale
711a
Nov'OO
Mar'04
96
711a
70
Mar'04
J'ue'02
J-D
J-D
J-J
107
May'97
1021a.
102 ifl.
98
.
J-J
86
86
85 1«
104
106
lien g 48.. 1997 Q-J
Registered
1997 Q-J
General Hen gold 3s
a2047 Q-F
Registered
a2047 Q-F
St Paul-Dul Div g 4s. ...1996 J-D
Registered
1996 J-D
104
100
lOlV
J-J
6s. .1917 J-J
105
95 14
69
70
105
99
791a
73
i-i
StP&N P
103
70
bid and asked
106i4Feb'02
105 Oct '00
91 J'ly '03
104
104
101 >a Jan '04
102 Dcc'OJ
104
10334 1021s
7II2 71 Mar'04
32 Jan '00
this
week.
la
9934
IO318
1031a Sale
101 Sale
71% Sale
99
66
96^2
99
13
87 la 9034J
100
43
991*100
lOSBg
82 101 la 10334
Mar'04
101 1021a
71 14
72 360 70 14 73
70 14 Feb'04
6834 7014
97*8 97«»
97^ Jan '04
1021-^
69
97 14 99
122i4MaT'04
F-A 1201a.
Q-F
F-A 108
132 J'ly '99
112 14 J'ly '0.^
IO8I4 Jan'04
961a Nov' 08
94 Hi Feb '02
113 Feb '04
.
A-O IO6I4.
J-D
QM
J-J
W
961a.
82
112
.
.
I2214I2214
10734 IO8I4
iia
111
1141a May'03
1081a J'ly 't>^
J-D
A-0
Un Pac
Un Pac
Oswego & Rome See N Y C
O C F & St P See C & N W
V
>.m'A&<*-
J-D
1st
sfund g4iaS..1917 A-O
Sink fund subsidy g 6s.. 1910 M-N
1st g4ias. 1921 J-J
Registered
1921 J-J
Guar 3ias coU trust reg.1937 M-S
Guar3iascolltr serB...iy41
Tr Co certif'8 gu g 3iaS.19i6 M-N
C St L & P 1st con g 58.1932 A-O
Registered
1932 A-O
CI & Pgengug4iaS8erA.'42 J-J
Series B
1942 A-O
Series C3ia8
1948 M-N
Series D 3ias
1950 P-A
Eriecfc Pitts gug3ia8 B.1940 J-J
Series C
1940 J-J
Edge gen gng4ia8 1945 J-J
P C C <fe St L gu 4 'as A. 1940 A-O
Series B guar
1942 A-0
Series C guar
1942 M-N
Series D 4s guar
1945 M-N
Series E 3ia guar g
1949 F-A
Pitts Ft
& C Ist 78. ..1912 J-J
2d78
1912 J-J
3d 78
/tl912 A-O
Penn RR 1st real est g48.1923 M-N
Consol sterling g 63
1905 J-J
Con currency 68 reg...ffl905 Q-M
,107
loo's
106
102
102
108
106 14
102
92 14
Apr '03
105
J
v.-.--i~
IO714
aUueJam
101
108
105
Sale
108
i-i
91
93
95^8 Sale
II8I4
113
114
95
93
W
071a 73
t»DuoPeb
Nov'9.s
Dec 'Oo
i)57e
95^8
96
96
96
Dec'03
118
IOSI4 Aug'03
Jan '04
Nov'OO
96
102
10034
110 Mar'04
110 Mar'()4
1161a Feb'Ol
10915110
Jan '04
92 Feb'04
12788 Oct '02
101
91
92
121
Mar'()4
121
121
130
105
Apr'Ol
105
104 "aloe I9
101
.
89
120'a.
.
117
104 'a 106
Tolcfrmpli and Telephone
1929
Comm Cable Co Ist g 48.. 2397
Registered
2397
Erie T & T col tr g s f 58..1926
MetT<fe Tlstsf g5«
1918
J-J
Q-J
Q-J
J-J
la
10934 11
la
Ha
101 la
•
96 la Apr '03
85
86^8 100 Hi
Apr '02
11134
MutUnTelCo SeeWestnUu
N Y N J Tel gen g 5s.. 1920 M-N
No Westn Teleg See West Un
100 la Oct '00
109 Oct '99
11 034 Nov'03
107
105i4J'ly'03
West Union col tr cur 58.1938 J-J
Fd and real est g 4 Has. .1950 M-N
Mut UtiTel 8 fund 6s. ..1911 M-N
Northw Tel gu t 4 "as g.. 193 J-J
lOO', 1071a 107 Mnr'04
103.\
103 103
10338
105 >a....
107'aJ'iH"o;i
M-N
.HanulnctiiiinK «.^ InduNli-inI
1915
Xm Cot Oil ext 4ia8
Am Hlde<& L 1st s t gOs.. 1919
Am Spirits Mfg Ist gOs.. 1915
Am Thread Ibt col tr 48. ..1919
Q-F
M-S
M-S
J-J
Feb'04
102
1
ibo'ia 104'
108 109
IO6I4IO6I4
on Next l'a«e
.
102 104
101ial03
9578
Apr'02
lOS
Mar'04
N&C
cfe
1021a Oct '03
.105
103
llliu--
Sep
'03
8934
891a
107 la J'ly '01
CE&QcoUtr4s SeeGtNor
Am Telep A Tel coll tr 4s
M-N
AO
96
"8 9 «8 Sale
in
Nov'03
Nov'03
981a
. .
Jan '03
105 Jan '04
103iaNov'03
115
100 ial03 la-
100 12 1003)
100 Dec'03
.101
<fe
Panama
1091a Sep '97
100»8 Mar'04
99 Dec '02
100 la Mar'04
55
105
96
Sep '03
101
.
<fe
Penn Co— Guar
Jan '04
IOOI4 Mar'04
101i4Nov'03
91
IO6I4 May'03
lOlis.
lOO's
Pac
98
A-O
CahC M Co Ist gug 68.1922 J-D
De Bar C I Co gu g 68.1910 F-A
Va Iron Coal &C Ist g 5s. 194!' M-S
WhLEtfe P C Co Ist g 5s. 1919 J-J
Friday; latest
R
Coast Co 1st g 5s
1946
Pac
ac of Missouri See Mo
116
Coal and Iron
•No price
981a 991*
<fe
MISOELX.ANEOUS BONDS—Condnucd
<fe
16
118
116
S
M-N
1905 J-J
„ .latfig..
N Y North See N Y C H
N Y O & W ref Ist g 48..firl992 M-S
Regis $5,000 only
^1992 M-S
N Y & Put See N Y C H
N Y & R B See Long Island
N Y S & W See Erie
N Y Tex & M See So Pac Co^
Nor & South Ist g5s
1941 M-N
Norf & WestgengBs
1931 M-N
OInd
llOia.
Registered
al917
lOOUlOSS^.
98 10034
M
12214123 1221a 1221a
II213II5I4 115 Mar'04
113 Dec '99
116 J'ly '02
111 Dec '99
N YCentife H Rivg 3»28.1997
Tenn Div 1st g 6s
Binn Div 1st consol
?:^
118''8.—
118
1031a 106
M-N
Derby con g 5s. .1918 M-N
Housatonic
'.
N Y Cent
New & Cin Edge See PennCo
KOcfcN E prior Ueng 6s 1)1916 A-0
JN Y Bkln & Man BcU See L I
Col O <& I Dev Co gn g 5a. 1909
Col Fuel Co gen gold 6s. ..1919
Col P <fe I Co gen s t g 53..1943
Convertible deb g 5s
1911
Trust Coctfs
Gr Riv Coal & C 1st g 68. .1919
Jeff & Clear C & I Ist g 5s. 1926
1926
2d gold 5s
Kan <fe H C <fe C Ist 8 I g 58. 1951
Coal
1st
Pleas Val
g s f 5s. 1928
Roch<fePitC& I pur lu 58.1946
1951
Tenn Coal gen 58
1093«
SeeNYNH&H
NY&NB
New York New Hav & Hart—
.'
<fe
A-O
5s
Jasper Branch 1st g 6s. .1923 J-J
Al Ist 68.. 1917 J
T P Branch Ist 68.. ..1917 J
L
-M-S
10634 109
Nov'03
121
139
1251a
Ore RR & Nav See
Ore Short Line See
1st consol
See
118
118
MS
gen g 6s.. ..1923
Registered certific'3..1923
lllialllia
St Paul & Dul 1st 5s. ...1931
91
2d 53
1917
91
Ist consol" gold 43! ! ! ! 1968
Wasli Cent Ist g48
1948
130 130
Nor Pac Ter Go 1st g 6s. .1933
Nor Ry Cal See So Pac
94
94
114 114
Nor Wis See C St P
<fe O
881a 88I2 Nor <fe Mont See N Y Cent
&
See C C C & St L
hio River RR Ist g 5s. 1936
General gold 53
1937
Ore & Cal See So Pac Co
Mai SeeNYC&H
Monongahela Riv See B cfe O
Mont Cent See St P M & M
Morgan's La <fc T See S P Co
McM M W &
&
Nash Flor & Shef
J-J
J-J
J-J
J-J
J-J
Nor Pac— Prior
lOl 101
1091a 1091a
25 111381151a
<fc
& Essex See Del L W
St List 7s. 1913
Nash Chat &gold
1928
107'4l0-<
IO714
108
107
107 Sale 107
98 14 99 "« 981a
987,
9938 Dec'03
9834 991a 981a
991.
114 Feb'02
1041a
<fc
1201a 1201a
<fe
P-A
M-N
M-N
M-S
Dec'03
11238
103
101
FA
Morris
MS
FA
NY&
W&
<fe
F-A
J-J
A-0
A-O
142
98
M-N
86
F-A
88
A-0 108
100
Sale
M-S
J-D a02i2
M-N 10738 10934
M-N 120
M-S 1041a 105
M-S
P-A 105
1st extension gold 68. .711927 Q-J
1938 M-S
General gold 4s
Montgom Div 1st g 5s. .1947
Mohawk
J-D
J-D
N Y Greenw Lake See Ene
N Y & Har See N Y C & Hud
N Y Lack & W See D L & W
W See Erie
J? Y L E
NY&LongBr See Cent of N J
120i2Feb'04
121
Jan '02
114H!Feb'04
96 Mar'04
I2012
<fe
2d gold 4s
1997
Registered
1997
Debenture g 4s
1928
Det Mon & Tol 1st 78.1906
Ka A cfe G R Ist gu c 5s. 1938
Mahon C'l RR ist 58. .1934
Pitts McK <fe Y Ist gn 68.1932
2d guar 6s
1934
McKees & B V Ist g 6s 1918
Mich Cent 1st consol 68.1909
5s
1931
Registered
1931
1940
4s
Registered
1940
JL<fe& Istg 3 "as
1951
1st g3ia8
1952
Bat C & Stnr 1st gu g 38. 1989
N Y & Harlem g 3ia8...2000
Regis t«red
2000
North Ist g 58. ..1927
R
O con l8text5s.ft.1922
Oswe<fe R 2dgug5s...el915
1071a J'ly '00
105 Oct '02
105 la Nov'Ol
104
103
Apr'02
<fe
L 1st gold 78.. 1927 J-D
1st gold 78
1909 J-D
Istgold 68... 1921
South West Ex 1st g 7s. 1910
1934
Ist consol gold5s
Ist and refund gold 4s. .1949
Paciflo
Ist 48 gu... 2361 J-J
2361 J-J
Utica & Elk Riv gug48. 1922 J-J
N Y Chic & St L 1st g 48.1937 A-O
Registered
1937 A-O
May'OO
105
95
4s. 1940 J-J
RW&OTRlstgag5s.l918
J-D
MU & Mad See Chic & N W
MU & North See Ch M & St P
Minn &
f
Since
January T
High No Low Hig/»
Ask Low
Bid
gu g 4s. ..1981 J-D
97 14
Registered
Jan '04
Jan '04
9713
97»a.
Ist
Gouv& OswelstgugSs 1942 J-D
Moh & Mai Ist gu g 48. .1991 M-S
N J June R gu 1st 4s.. .1086 FA
N Y & Pu Ist con gJi g 48 1993 A-O
Nor& Mont Ist gug 58.1916 A-O
Nov'99
91 14 Feb '04
112
108
109
Ad
Clearf Bit Coal lets
J'ne'02
9734 Jan '04
107>2J'ne'(>3
gi^tz
Friday
March 25
<fe
Cart<fe
Range
Week's
Range or
Last Sale
Price
STOCK EXCHANGE
January 1
Week Endino March 25
No Low High N Y Cent H li~{ Continx(ed)
N. Y.
Since
Bid
Jligh
Nashv (Continued)
Ask Low
108'4 Jan'03
Lex POW4V2S... 1931 M-N lOlie
N 0<fc M
BONDS
Hanye
Week's
Price
N. Y.
1211
3
95
77
82
75
,
'8
9.1
Snl.)
76
.'^7
82
75
77
«DaeMay yUueJ'ue ADuoJly p Due Nov
»
'4
Mnr'Ol
77
Mar'04
i\Iar'04
Option
aale.
105
IS 101
la
lO?!*
104
i02"i'02"
95
97
70
82
74
8S
76
8H«
—
.
Bond Eecord
i'2\'2
UOM>!«
K
NVHHK
March
:
.'5
....11'1J|M
N
I'.'l-.'M
S
\
lOOHj
A
98
-
•,-
.,.•.,
.1
.
tsUo
116
^
'
L
109
J
>a
Is'
10tl»4
119 121
lOTauUti
109 Hi no
19.i'.i|M-N
Ki*"-!!''^-' A
O
I
W
I
.
fc>i-f
I'cun
Cu
.SVi"
I'euu
Co
A; Cli
June
Ist f;oUl
19'J'J
t>3
V
i
J-O
J.J
Ry
Rich & Meek Hee Soutliorn
lUo (Jr West Hee Deu <fc Kio Gr
Kit) Li r June 1st (fug5s...l939 J-D
Bii>Krsio 1st gold 4s
1940 J.J
Ci iianiii t ee»l
1940 J-J
Rocli
B K A; P
Wat & Og tiee X Y Cent
Boiiie
^«r
Vltts
A-
Kutlaml
1st cou g4H!S
1941 J.J
Kul-Cauail 1st gu g4'i!S.iy41' J-J
Tiis A; H
Sag
I Jo Ac Ui- Isl
.">ee
Pere Marq
1st g 43. ..1947 J-J
St Law <fc Adiiou istg 58.1990 J-J
2<lgoUl 6s
1996 A-O
L Jc
L K C A;
>f
1.
Hee
6t
L A;
1.
<)c
M Br
8 lYau
iiee
Wabasli
T KK A of St L
g 6s CI B 1900 M-N
L'd
2d gold 6s Class C
1900
Geueral gold 6s
1931
General gold 5s
1931
St LA: S F KUoonsg4s..'96
Soutliw Div 1st g 5s. .1947
Refunding g 4s
1951
K C Ft S A; ii cong6s..l92^
K C Ft Ss A; il Ky i-e; g 4s 1 930
K C A; -M K A; B isl gu 58. 19l'9
8t Liouis So 6Vt' Illinois Ceut
let g 4s bd cU8.19s9
St L S
2d g 4s LUC bond ctls.../)1989
Cousol gold 4s
1932
Gray's Pt Ter 1st gu g 5s 1947
St Paul A: Uul mee ^'or Paciljc
8t Paul
& Man 2d 0S...19O9
Ist cousol gold 6s
1933
Registered
1933
Redticed to gold 4128. .1933
Registered
1933
Dakota ext gold 6s
1910
Mout ext Ist gold 4s
1937
Registered
193
E Minn 1st div Istg 5s. .1906
W
M
M-N
J-J
J-J
J-J
A-O
Dei
117
May'OO
123 Hi 123 Hi
109
Apr '02
1183j
nsHill83j
108 '4 Feb '01
110 Hi Feb '01
10734 10SI4
11834
109 »< 110
Hi
11938 119
H2
M-N
A-O
Stamped
M-N
J-D
J-D
A-O
J-J
J-J
J-J
J-J
W
.
M-N
J-D
J-D
Mar'03
Apr'97
11412 Mar'04
117 J an '04
134
115
114H2114H2
117 117
Utah
& Nor
10214.
J-J
A-O
66
97
M-N
J-J
70
.
8973.
103
102
102
102
J-J
J-J
1943 J-J
Ga As AlaRy lslcon5s(/1945 J-J
GaCar A; Xo lstgug5s 1929 J-J
.
8434
85
10534 108
103^4
10534 107
VG&N
W
97
Oct '03
7OH2
98H2
Sep '00
9934
8834
9978
9778 100
89
87 Hz 90
H.
Jan '04
87
98
Mar'04
97 78
98
99i4Mai'03
84'4 Mar'04
8734
97
98
9714 10136
84
85
Hz
II0I4 Feb'03
102 Feb '04
105 Sg Mar'04
104
105i4Feb'04
105
105
103
Deo '03
H2
Nov'03
10534
I06I4.
10234
1030s
IOoHj.
IOSHj.
107 Hi
10178
102
106 Hi
J 1 1(1 /i
110 112
29 112 113
90 H) 93
16 ISOHliijoia
J-J
A-O
A-O
A-O
108
108
108
108
108
119
109
108
.
.
AO
A-O
M-N
J'ly'03
Jau '01
Jan '01
7SH
21
lOOi-i Mar'()4
.
Mar'04
Dec 'OS
100
100
70
105
106
106 Ha
HO34
1074
Oct '03
Mtiy'03
11934 Feb'03
.
.
.
.
Nov'03
Feb '04
Mar'04
Mar'04
119
109
119
107
108
10834
101
101
J-J
PA
Feb'04
111 Hi Oct 'O
1 03
Jan '04
101
1(10 Hi
M-S
100
113
J-J
J-J
J-J
11234
Sale
93
M-S
104
J-J
J-J
J-J
J-J
"94"
109 lo
89
91
Hj
103' i03
113H, 171 111
110
93
Feb'04
Mar' 04
113
Doc '03
108
93
93 Hi Mar'04
120 Mar'Ol
*
114
110
95 "4
93 Hi 95
9 13e Mar'04
9114
92
A-O
J-J
J-J
M-N
M-S
JJ
J-J
J-J
A-O
M-N
M-N
M-f-
M-S
MS
M-N
Mi,N
F-A
J-J
Oct '03
114H2.
113
Mar'04
113 11314
II8H2 118-4 118 Hi 19 117Hill834
108 109 12 IIOH2 Feb'04
llOHillOHj
121
122 Mar'04
11834 122
121
123 120 Jan '04
120 120
II4I4II5 II4I4 114^4
114 115
109
lOSHi Dec'03
92 Sep '02
104 H2-...
104 Hi 104 Hi 10 103 Hi 104 Hi
IIOH2...,
123 Feb'02
106 i*...,
112 Feb'03
108 ....
115 Jau '03
Ill ....
11034 Mar'04
110 112
11034 11034
*110Hj112H; 11034 Mar'04
92 ...
93 Dec'03
113 Mar'04
II2H2II4I4
113H2...,
116
113
.
122
J-J
J-D
117
94
J'ly'OO
104 Hi Sep '02
A-O 111
F-A II318.
A-O
10714 J'ly'O
112i4Fel)'04
10734 Dec'03
M-S 100
J-D 116
85
Mai
100
116
90
108
ion Hi
113
ill
.
.f.J
FA
117
90
108
113
107
J-J
A-O
II2I4 11578
Sep '03
116
Mar'04
Feb'04
Mar'04
101
II2I4II3
113
Sep
'03
"o'i"
J-J
J-J
A-O
J-D
J-D
J-J
J-J
M-N
9734 Sale
109
11678
93
31014
106Ha
115
85
108
.106 Hi 10534 Jan '04
92
9V2
86
8778 86
86
82 Hi 82 Hi
S2Hi
"76" Sale
6934
70
9334
98 Apr '03
100i4Fel)'04
108
103=8 Sale 103=8 10378 9
2
104 Sale 104
104
J-D
A-O
10534 10534
86
81
92 Ha
88
83Hj
69
7234
91
Hi
106^4 106 Hi
100^4 10379
1003h 104
96I4
ISM
9838
94 Hi 9838
9034 Jan '04
9634 9634
101
101^4 36 OS 1-2 101 >4
I2OI4 124
122
122
5 111 11334
113
11334
20I0
"2
92
95 h
9034 9638
112
Deo '03
114HjApr'02
101 103 H;
116 Sale
106
99
6 1 H2 Sale
Wabash
1930 J-J
series A
Series B
1939 J-J
1st lien equip s tdg 5s..l921 M-S
Debenture
DesMoin Div Istg 4s. .1939
Om Div lstg3H28
J-J
MS
dl943 Nov
Income 5s
West No Car See South Ry
West Shore See N Y Cent
Istg
107
J-J
1941 A-O
Toi& ChDiv Istg 4s... 1941
St Cluis Bridge 1st g 6s. 1908 A-O
Warren See Dei Lao & W^est
WVaCent&P
1
W
6s. .1911 J-J
"so'
'
*
94
1949 M-S
Wilkes cfe East See Erie
Wil As Sioux F See St P
95
83 14
99
104
11534
IOOH2
Feb'04
110
100 Hi 104
114H2il6
IOOI4 109H2
IO6H2
101 Hi Apr'03
60 Hi
68
62 480 57
102 Jan '04
102 102
100 14 107
107 Mar'Ol
90
90 Feb'04
90
8I34
7973
8I34
109
Dec'03
Feb'04
110i4Nov'03
110 Mar'03
87
87
112
112
112
109
86 Hi 87
813*
98 Mar'02
109 Hi Mar'03
lldi^llSHi 115i4Peb'04
92
94
957eOct '03
40 Mar'Ol
30
Wheel'g& L E 1st g 5s.. .1926 A-O 112
Wheel Div Ist gold 5s..l928 J-J 107
ExtenAs Imp gold 5s... 1930 FA 105
Ist cousol 4s
10012 102
lOoSglO?
105 105
102
113
100
73
79
J
J J
J
Wash Cent 6ee N or Pac
Wash O & W See KoutUern
West N Y'& Pa 1st g 5s.. 1937 J-J
1943 A-O
Gen gold 3-4S
853^
99
J-J
J-J
RR
Det& Ch Ext Istg 5s. .1941
102 103
lOoHilOoHj
Jan '03
102
95 100
9778 Sale
iy4y FA
Mortguargold3»2S..A;1929 J-D
Registered
A:1929 J-D
Gal Har As S Alstg63..1910 F-A
2d gold 7s
1905 J-D
ilex As Paclstg5s
1931 M-N
Gila
1st gug58. 1924 M-N
Hous K <fe
T 1st g 03.1933 M-N
1st guar 5s red
1933|m-N
65
96
Feb '04
llli4May'03
9978 Sale
89 14 Sale
Registered
Mar'04
110
Jan uarii
No Low
'
130 Hi 130 Hi
122 Sou '02
.
A-O 107
Uni
J
<fe C Co See Pa
Utali Central See Rio Gr Wes
Utah & Nortli See Un Pacific
Utica & Black R See N Y Cent
\r er Val lud
See Mo P
V irgiuia Mid Sec South Ry
Vacfc Southw't lstgu5s.2003 J-J
1939 M-N
1st gold 5s
1939 F-A
2d gold 58
&
1051-2
101
A<feX Wlstgug5s....l941 J-J
Cent Pac 1st rel gu g 4s 1949 F-A
69
97
90
100
110
loo '2 Feb '02
102 •^Mar'04
.
.
J-J
J-J
Dec '01
.
lob's.
J-D
J-D
fcl949 J-D
Jan
11334
35 wo
A-O
1908 J-J
1920 J-J
1st 7s
N RR
'04
119Hj.
Ore Ry & Nav con g 4a. 1946 J-D 1001^4
Ore Short Line IstgOs. .1922 F-A 122 122 12
1st cousol g 5s
1940 J-J 11334 Sale
94 v Sale
1927 F-A
4s & participating
Gold 5s
110
130
J-J
h'ange
Since
Week'f,
Jiange or
Last Sale
lis
1911 M-N
Registered
Apr '02
128
M
Registered
W
M
St P As Xor Pac .becAorPac
St P A: S'x City See C St P
A:0
Salt Lake C ist g s f 6s.. .1913
.
W
A-O
1905-.. 193. iM-N
Istg 6s. .1911 JJ
W
W
J-J
194&
1922
1937
Registered
193
1st guar gold 5s
1937
Will A: S F 1st gold 5s. .1936 J-D
Seab & Koa 1st 5s
1920
aUer bhr & So iS'ec il K A; '1'
Sil Sp Oca & G aee Atl Coast L
Sod Bay As So 1st g 5s
1924
So Car & Ga bee Southern
So PacCo— Coll trg44>s.. 1905
Gold 4s (Cent Pac coll) A;1949
'.
.
A.-0
Nor Div lstgolU4s
Cousol gold 5s
. .
M
J-J
Muiu Union 1st g 6s
Mont C 1st gu g 63
Si'ePres A: Phlstg5s...l94
S A As A P iee So Pac Co
S F & IS' P Ist sink 1 g 58.1919
Sav F & West ,S'ee Atl Coast L
ticioto Val Ac N K Hee is'or <fe W
Seaboard Air Line g 4s. ..1950
Coll tr refuna g os
1911
Car Ceut 1st con g 43. ..1949
Fla Cen A: Pen Ist g 58.191s
1st land gr ext g 5s... 1930
Ist '78.1911
1920
N Y Tit jMex gu Ist g48.1912
No of Cal 1st gu g 6s
1907
Guaranteed poldfts
1938
Ore A: Cal Ist guar g 5s. 1927
S A <t A Pass 1st gu g48. 1943
^^<> I'ol Argu Istg 68...cl909
1st guar g 6s
cl910
S Pof Cal Istg 6s
1905
1st g lis series B
1905
Ist g 6s aeries C<fc D...1900
Ist g Os series E As F. 19 1
1st gold 68
1912
Istcou guar g 5s
1937
W
Cairo iiee ilob cfe Uhio
Irou Jloiuit &ee il P
St
8t
St
St
La Ab T
S P Coast Istgug 48.... 1937
1905
120 Oct '01
Sabine Div IstgOs
US'.
1912
112 "u Dec '02
Cou gold 5s
1943
Southern— Ist con g 5s
1994
115iaMar'04
Registered
lloHzlloHi
1994
98 J'ly'97
Jlob & Ohio coll tr g 48. .1938
Mem Div 1st g 4H2-5s... 1990
120V3Dcc'02
lu'g
St Louis div 1st g 48
1951
95-8
963g 94 94B8 9634
963» Sale
Ala Cen R 1st g 6s
1918
9(i'8J'ly'03
Atlcfe Danvlst g4s
1948
"94^8
93^^
93'^Mar'04
Atl & Yad 1st g guar 43.1949
91%
Col & Greenv let 6s
1916
E T Va & Ga Div g 6s.. 1930
Cou 1st gold 5s
1956
E Ten reor hen g 5s
1938
105 Dec'03
Ga Pac Ry 1st g 63
1922
75 Ang'03
Knox & Ohio 1st g 6s. ..1925
63 Hz.
Rich <fe Dan con g 6s. ^.1915
92 Mar'03
Deb 5s stamped
1927
Rich cfe Meek 1st g 4s. ..1948
So Car <fe Ga 1st g 5s
1919
101i4Nov'01
Virginia Mid ser C 68.. .1916
Series D 4-5s
1921
Series E 5s
87 Dec'03
82
1926
86
General
5s
1936
997e
Guar stamped
1936
O At
1st cy gu 4s.. 1924
West N C Ist con g 68.. 1914
S & N Ala See L & N
Spok FaUs & Nor 1st g 6s. 1939
105 ifi.
105 Feb '01
Stat Isl Ry Ist gu g 4Has..l943
104 H2 105
104>2 Dec'03
lOoifl.
Sunb & Lew See Penn RR
12234 Mar'04
12234 124Hi SyraBing&NY ,S«eDLcfcW
IIOI2.
11034 Mar'04
110 111
'Pebo&N SeeMK&T
JL er A of St L 1st g 4HjS..1939
98 Dec '03
100 Jau'04
l8t con gold 5s
1894-1944
100 100
81
82 Sf, 87 79 Ha 84
St L
Bge Ter gu g 5s. 1930
81 Hi 81 >2
119
120
"a Feb '04
U9Hill9H2 Tex <fc N O See So Pac Co
79
80^8 187 78
SO >-j Sale
8078 Tex & Pac E Div 1st g Os .1905
2000
103
Ist gold 5s
2d gold inc 5s
r/'JOOO
94
18 92^4 94:'2
94
La Div B L 1st g 5s
19:;i
94 12 9378
'2
7812 17 72H2 78H2
76
Min A; N 1st gu 5s ';:o
78 Sale
7134 Sale
7138
72'2 136 70
74^8 Tolcfe OC Istg 5s
1935
Western Div 1st g 5s... 19
Geueral gold 5s
1935
IIOI4
110i2Feb'04
Kan& Ist gu g 4s 1990
llOHzllOHi
I30L2132 131^8 132
TolPcfc Wist gold 4s. ...1917
130 132
140 May'02
Tol St L <&
prlien g 3 Hjs. 1925
10753 Mar'04
10734
50-year gold 4s
1950
107 H2 10838
llOisApr'Ol
Tor Ham & Butt 1st g 4s./ll940
Del
111
&
1st
con
Sale 111
111
5s
1928
111 111
g
Ulster
lOli^Sale 101 "4 101 14
uPacRRAs Igrg4s..l947
100 IOIH2
106 May'Ol
Registered
1947
104 Aug'03
103=8.
IstUeu convert 4s
1911
14e>;ist«?r«Hl
1997 J -J
Jersey Ceut coll jc -Is. ..1951 A-0
Keusselaor A: Sar *c« D c& U
Hfe Soulli
AO
MN
W
gall's
SPacofNMex
.
L>:iii
. .
Tex&N O Ist 7s
€te
Ricli A;
111
119!\jMar'04
137 Mov'9"
'
.
March
Hid
Aisle Low
•Southern I'ac Co (Continued)
J Hull
113 1 1 1 14 Mar'04
1 1 tt 1' C 1 St (f 6«
n t gu 1 93'( J-J 111
11234 ....
112''8
C;on»ol g 6s tut guar... 1912
113
93 ....
Goii f;ol<l 4s iMl guar.. 1921 A-O
93 Mar'04
Waco.t N
127 Hi Feb '02
(l\v 1st g 6s '30
Moi
4 s-
»•'
Kne ".M ft 5s...al9'J8 A-0
es A; Y 6Vei N Y Ceu
A L K 1st pus. ..1940 A-O
1
1943 J.J
Iftl cvusol goltl 5s
Pitts & West .Srf B & O
cou
Ash
1st
5s.
1927
Pitts Y
.M-N
1997 J.J
KeniUuRCo Kcug 4s
I
'.'.'.'..
li'-'l
I'fJd
iTuar 6s...ly3'.
1
—
»•'"
94">-j"9'7
NoV97
MarOO
123>aJan'04
95 J'ne'03
121V)
1931 h-A
It.-adlnK cou* "8.1911 J-D
*
I'iUs t
I'ltti*
.M58
i;iil>l5s
Tusit H
SiiK
\V
ciU
Huruii l>iv l»l
I't
rhiiM
r
A
-Oil
I
JPrlM
f'ridav
STOCK KXCHANGE
Wkkk F.NDING Mahou 25
I
L
M'.IJl s:i:-
..^s
Jiigh
"'.'V»'
u i^l k6ij....1!I-.'1
I lUi .v. I'.M
l»l coiisol
1
IVi'
Aug'03
96 '4 127
[Vol. Lxxvin.
Isl gold Os
U'TH;
St
9ri»4
102
11234
IS'.il-.lj.j
A
Low
114
106
4
N. V.
.s't'nco
Janvarxi
AtH
Bui
113
<UIS
....uu:?M-N
....aOU» \i.8
—Concluded—Page
Kangt
Wtekt
Rangf or
Last Sale
NllK
V. SI
.
115
II5I4
112
114
86
91
M M
<fe
Winona cfe St P See C cfe N W
Wis Cent 50-vr 1st gen 4s. 1949 J-J
89^4
8934
89 H>
8934
101 la
8859 90
MISCELLANEOUS BONDS—Concluded.
iUiLnuln.cturuis dc Industrial
Bar
S Car Co 1st g 63.. .1942 J-J
Cousol Tobacco 50-yrg 4s. 1951 p. A
Aliscellaneouii
&
Registered
1951
Distu Sec Cor couv Ist g 5s. '27
DistiU of Amer coll tr g 5s. 1 911
111 Steel Co deb 5s
l9io
Non-conv debeu os
1913
Int Paper Co 1st cou g 0s.l91b
Int St Pump lO-yr conv. 6s '13
Knicker Ice (Chic) 1st g 5s. '28
lackaw Steel 1st g 5s
1923
Nat Starch Mfg Co Istg 6s 1920
Nat Starch Co s t deb 5s. .1925
Btan Rope <fe T 1st g 6s. ..1946
Income gold 5s
1940
V S LeathCo sf deb g6s..l913
V S Steel Corpcoltr2d5s.d'63
PA
A-O
J-J
J-J
A-O
F-A
J-J
A-O
A O
M-N
Jan '00
5734
69 460
573, Mar'Ol
66=8
159
68
Adams Ex col tr g4s
105
5838 Sale
""6'77gSale
'
98H2
90
90
105 H. Sale
97Hi
94 7g Sale
89
J-J
65
F-A
40
Sep
Jan
99
99
92
105Hi
5334
5734
0138 AjuDkcfelmpos
63
OS Hi
5734
'03
'99
1948 M-S
Cent N J
cfe
Feb 04 ""6
105Hi
(See
WVag 58....1920 M-N
B'kl'n FerryCol8toonsg5s'48 FA
v:hic Jccfe St Yard col g5s. 1915 J-J
Dot M
Mldgr incomes.. l9ll AO
AmSSCoof
92
92
105 1910034
2 97 100
loo
100
93 Feb'03
94 7g
95 H. 40
90 78 Dec '03
66 Feb'04
40 Mar'04 ""6
93
95 Hj
65 Ha 66
35
47
Hoboken
Lcfe l.gold 5s... 1910
M-N
10134
101
10034 J'no'02
"621.^ 6418
641*
61
663*
111
102 Hi--..
80
81Hi 80
Mar'Ol
Feb'04
80
83
50
Feb'02
90
91
10 lis Sale
^""!
Mad Sq Garden 1st g 5s.. 1919 M-N
Man Bch Hcfe Lgeng4s..l940 iM-N
Newp Ne Ship D D 5s (Z1990 J-J
N Y Dock
cfe
FA
50-yr 1st g 48.. 1951
St Joseph Stk Yds Ist 4Has. 1930 J-J
St L Ter Cupples Stat'n <Sr Prop
Co Istg 4 Has 5-20 year.. 1917 J-D
91
100
91
Sale
91
,
4I4 S Yuba Wat Co con g68..1923 J-J
2
3
3
134
2Hi
108 Nov'03
M-N 110
110 Mar'04
10734 11018 Sp Val Wat Works Ist 6s. 1906 M-S
113HaJ'ly'00
98 Ha.
M-N
74 <% Sale
7379
7514 2398 6834 75 Ha USRedc&Reflstsf g6s.l931
79 Aug'03
Registered
April 1903 M-N
7418
741-2 14
6834 74 Hi
price Friday; latest bid and asked, a Due Jan 6 Due Feb c
Due Mar dDae Apr ADueJ'ly fc Duo Aug Due Oct p Due Not a Dae De«
No
103
If,
s
Option gala
Mae.
THE CHRONICLE.
26, 1904.]
Volume
NEW YORK
TBANSACTIONS AT THE
Stocks
ending
March 25
iyu4
Monday
Tuesday
Wednesday
Thursday
Friday
Total
4,676.043 $430,137,250
Bonds
$2,000
$2,000
January
—N
1903
1904
1 to
March 25
1904
1903
2,967,479
30,402,884
4,676,043
40,118,9. ;3
$430,187,250 $270,825,200 $2,808,190,125 $3,809,261,375
$4,500
$147,900
shares, par..
$8,700
$84,950
Stocks
o. shares
Par value
Bank
BONDS
State bonds
BR. and mis. bonds
Total bonds..
$2,000
$61,500
$13,4'75!6o6
11, 109" 500
$249,200
188,000
153,857,000
$357,000
250,500
176,134,600
$13,477,000
$11,171,000
$154,294,200
$176,742,100
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
Philadelphia
Bond
Unlisted
shares
Listed
shares
Listed
shares
sales
Bond
Unlisted
shares
sales
7,966
16,102
17,721
25,228
25,123
19,511
6,622
13,133
7,294
9,953
15,616
6,331
$49,500
39,000
75,500
94,500
37,000
36,500
11,306
23,955
14,849
32,947
15,S67
12.885
3,516
11,993
7,078
16,196
10,388
7,295
$62,000
49,400
36,900
137,080
192,700
48,500
111,651
58,949
$332,000
111,809
56,466
$526,580
Monday
Tuesday
.
Thursday
Friday
Outside Securities
Weekly Review
of Outside
Street Rail^vays
NEW YORK
Market will
Dry D E
H& B—
1932. ..J-D
itscrip 5s 1914 ....P-A
U Kighth Avenue 8t...l00
TlScrip 6s 1914 ....F-A
1l42d& Gr St F'y stk. .100
lllst gold 5s
42dStM& StNAv..lOO
Ulstmort 6s 1910 .M-S
1I2d income 6s 1915 J-J
Interborough Bap Tr. 100
Lex Av
& Pav F 5s
See St
Metropol Securities See
Metropol Street Ry See
Nintli Avenue stock. 100
& Bklyn ..100
coney
1st cons g 48 1948. .J-J
Brk C & N 5s 1939.J.J
Gr SttfeNew 1st 5s '06 F.A
Gr'pt c&Lorimer St 1st 6s
55
87
100
8434
Lake St (Chic) El stk. 100
134
Preferred
100
100
4^28 1952
J-J
1st 48 1948
108
99
390
105
400
70
104
80
107
k Exc
Stk E
Stk E
190
206
Cons Trac
110
101
ist 5s
98
108
i
h
75
107
90
list
list
102
list
list
111
100
102
114
102
J-J
'31. J-D
9'3
2914
79'2
30
80
75
loo
3934 40
19
18
69 12 70
63'-^
63
105 14 10534
112 la 113
§100 102
§10112 102
240
no9 110
17
18
64 14
i 64
81
82
100 la 101
112
115
110 111§122 125
ilOO
10'2
95
96I4 98
i
71
95
LOO'S
48
75
HPreferred
81
A-O
OS 1938
llOcfe
15
<fe
1926
Pas Gas
li-j
31
100
5
J-D
& EleolOO
Preferred
21
51
Preferred
1
100
100
Electric Lead Keduc'n.50
50
100
Preferred
100
Electro-Pneum'icTranlO
Empire Steel
100
Preferred
100
HGeneral Chemical ..100
HPreferred
100
Gold Hill Copper
1
Greene Con.sol Copper.lO
10
52
42
102
95
91
96
40
89
1
l^a
8
11
10
38
1
»«
30
44
10
42
48
95
100
5
I2
12
15
85
8
15
29
35
HackensackMeadowslOO
Hall Signal Co
100
Havana Commercial. 100
Preferred
12i»
20
95
15
35
32
40
100
Co. .100
Preferred
100
Hecker-Jones-Jew'l Mill
1st 6s 1922
M-S
100
Hemng-HaU-MarvinlOO
1
102
3
100
100
30
40
4
8
Havana Tobacco
88
100
Si's
98
I29I2
15
24
60
7
Electric Vehicle
& Telephone
84
Cable 100
96
BeUTeleph of Buffalo 100
HCentral & So Amer .100 101
30
Ches cfe Poto Teleph..lOO
5s 1909-29
J-J 10234
llCommercial Cable ..100 175
Commer Un Tel (NY). 25 115
Emp & Bay Stiite Tel 100 78
42
Franklin
100
HGoldjfe Stock
100 110
II4I2S, 1905
Hudson River Teleph 100 92
JT6leph...lOO 141
UN
5s 1920 See Stock Ex Chan
UNorthwestern Teleg. 50 118
Pacific <& Atlantic
75
25
95
HSouthern & Atlantic 25
14
5
Electric Boat
48
40
Con g5s 1949
M-S ilOl
St Joseph Gas 5s 1937.J-J
94
87 12
StPaulGas Gen 5s'44M-S
9412
Syracuse Gas 58 1946. J-J
37
United (+as<feElec.N J 100
87
Preferred
100
1st 6s
17
67
3I4
Dominion Securities. 100
95
65
54
108
137
72
100
ludCNat&IU.lOO
75
97
Cuban 6s of 1896
HDiamoud .Match Co. 100 129
103
J.
65
13
60
1334 141a
Debenture 4s
Cons Storage BatterylOO
10
ContTobacdeb 7s'05A-0 §102 f02i2
Cramps' Sh&Eu BldglOO
15
25
5^
HCrucible Steel
100
5
list
H & Pow—
1st preferred
2d preferred
Hoboken Land<& ImplOO 200
40
103 w,
M.X §102 104
H5s 1910
2
5
185
Houston Oil
100
12
17
Preferred
100
90
110
82
Hudson Realty
52
luterboro R T See Street Rys
120
Internat'lBankingColOO 140 146
5i«
43,
Int'n'l Merc Marine. 100
18
19
98
Preferred
100
145
82
Col tr deb 4 i2l922op'07
e list International Salt
9
10
100
124
38
41
Ist g 5s 1951
10
«2
International Silver. 100
30
37
105
Preferred
100
Ist 6s 1948
J-D § 98 LOO
John B Stetson com.. 100 165
Electric Companies
Preferred
100 130 150
Chicago Edison Co... 100 148 150
Kitchener Gold Mining. t
h
8I2
Hartford (Ct) Elec Lt 100 235 249
Lanston Monotype
20 t
Lawyers Mort fn.sur.l00
HKingsCo El L&P Co 100 180 190
88
91
Narragan (Prov) El Co 50
Lawyers' Title Ins. ..100 270 275
& Q El L&PowColOO 35 41 LiglitFuel&P of WValOO 30 31
71
73
Preferred
HLorillard(P)pret ...100 115
100
18
15
20
Madisou So Garden.. 100
United Electric of N JlOO
62 14
62
80
2d 68 1919
M-N 60
48 1949
J-D
1^ 1=9
Manhattan Transit
20
Ferry Companies
512
7
MexNat Construe. pflOO
6
9
Brooklyn Ferry stocklOO
7
Monongahela R Coal. .50
25
109
Preferred
1st 6s 1911.J-J 105
50
Mosler Safe Co
i02'si
Con 5s 1948 See Stock Exch Ust
100
N Y ife E R Ferry stk. 100 70 73 1|Nat Enam & Stamp 100 17 19
78
92
85
§
94
HPreferred
100
Ist 5s 1922
M-N
N y & Hob con 5s '46. J-D 10512 106 National Surety
100 114 120
3
Hob Fy 1st 5s 1946 M-N §107 1091-. NewBrunsCannelCoal 1
42
43
N Y<fe N J Ist OS 1946. J-J 100 102 HNew Central Coal
20
4u
3
60
New Eng Consol Ice. 100
10th & 23d Sts Ferry 100
96
1st mort 5s 1919. ..J-D § 92
N Y Biscuit 6s 1911. M-S 104 106
30
34
NYMtgecfe Security. 100 110 130
IJUniou Ferry stock .100
16
20
93
HNew York Dock
Hist 5s 1920
M-N 90
100
40
HPreferred
100
5I4
Raili'oad
512
N Y Transportation. ..20
3
85
4
87
Nor
Lum'r tfc PulplOO
Buffalo & Susqpref ...50
4
5
Chic Peo <fe St L pret.lOO
HOntario SUver
100
30
33
Otis Elevator com
Deposited Stock.
100
8I2
89
90
Preferred
Undeposited stock.
100
26^8
105
Pittsburg Brewing
Prior lien g4i2S'30McfeS
50
•265b
4434 45
84
86
Preferred
Con mtg g 5s 1930. J&J
50
IS^j
15
20
Pittsburg Coal
Income 5s 1930
100
5812 5834
92
94
Preferred
100
Ch R I& Pac4s (wi).
99 105
83
87
Pratt & Whitn i>ref..lOO
Erie conv4sAprL'o3A&0
118
Realty Assoc (Bklyn)lOO 112
Northern Paotfic
100
124 125
Royal BakPowdprel.lOO 100 12 102
When releaseil
7
9714
61
63
Russell & Erwin
9
25
Northern Securities.. 100
185
33
36
SiU'ety Car Heat & Lt 100 ISO
Pitts Bess & L E
50
33
74
Seminole Mining
77
5 t
Preferred
50
20
30
Sunpson Crawford Co 100
Seaboard Air Line
80
8212 8234
Deb s 1 6s '^4 op '05.. J-J 70
Coll tr 5s '07 op (wi)M.S
35
Singer Mlg Co
100 370 390
Va & Southwestern. .100 26
5
6
Standard MUling Co. 100
Industrial and Miscel
23
25
Preferred
100
72
73
85
95
5s
Alliance Realty
100
712 11
Standard Oil of N J. .100 622 62S
HAUis-ChaLmers
100
28
32
40
50
Standard
Coupler
comlOO
HPreferred
100
13u
Preferred
100 115
HAmer Bank Note Co. 50 \ 524I2 54
4'>8 Storage Power
38
50
American Can com. ..100
3612 37
Swift 6c Co See Boston St k Exc h'ge
Preferred
100
§100
101
90
95
1910-1914.
1st 5s
...J-J
American Chicle Co. .100
32
76
80
Tennessee Copper
321a
Preferred
25
100
I2
'8
90
HTexascfe Pacific Coal 100
American Elevated
99
100
1st Os 1908
A-O §105 107 'a
Malting 6s 19 4. J-D
430
420
75
80
Title Guar & Trust ... 100
Amer Press Assoc' u. 100
'2t)l2 Title Ins Co of N Y..100
130 145
Amer Shipbuilding. ..100 20
10
13
85
87
Trenton Potteries com 100
Preferred
100
8-2
2
4
Preferred new
100
Soda Foun com. .100
05
03
75
70
Trow Directory new. .100
1st preferred
100
11
14
Union Copper
10 t
100
»l
2d preferred
162
Union Switdicfc Signal 50 t 66
50 158
American Surety
i'05'"
Preferrett
50 I.
Amer Tobacco com... 50 250 500
80
84
135
Union Typewr com. .100
HPreferred
100 130
102
103
25
30
preferred
Ist
100
Typefo'rs com... 100
IU3
85
90
2il iiroferred
100 101
Preferred
100
2I4
•2I2
2
3
UnitBoxboardcfe Pap.lOO
Amer Writing Papor.lOO
12->4
12
I51.J
Prelerred
100
16Sj
Preferred
100
2
69
70 Si U S Cotton Duck
1
100
53 1919
J-J
10
20
20
U S Knvffoiio com...lOO
HBarnoy<S! Sm Car ...100
60
65
125
100
HPreferred
100 110
H Preferreif
6
10
U B Light <fc Heat
50 140 160
Bliss Company com
160
Preferred
50 140
HU SRedifc Refining. 100
335
Hl'referred
100
Bond& Mtg Guar.. ..100
100
U SSUlpbuUdiug
Borden's Coud Milk.. 100 117 119
Preferred
100
I'retorred
100 107 I2 110
'4
3 t
's
U S Steel Corjt new 6s See Slk E X Ust
Camden Land
CollrsfSs'eiopt'U . §103iu 1041a
Celluloid Co
100 114 116
12
16
Coltra f 58'51 not opt.. §10312 104
Cent Fireworks com. 100
2
lia
52
57
Universal Tobacco... 100
Preferred
100
2
1
Preferred
100
4
IHj
Central Foundry
1 00
7
Westchester & Bronx
8
Preferred
100
150
Title ifc Mort Guar Co. 130
54
Dob 6s 1919 op 'OlM-N 62
Westiugh Air Brake. .60 ili'i
100 100
c;eutury Realty
734
White Knob Mining. 10
8>a
Cuesebrough Mlg Co 100 420 450
87
90
Worthing Pump prof. 100 110 113
HCIalliii(Jl B) Istprcf 100
87
90
lool
112(1 preferred
87
90
loo
HCoiiniiou
Y&N
Buffalo Street Ry—
Ist consol 58 1931. -F-A
Deb 68 1917
A.O
Chicago City Ry stk.lOO
Chic UuionTrac See St'ck
Cleveland Electr Ry.lOO
§106
k Exc
Slk E
200
N
Y & Richmond Gas.lOO 33
Nor Un Ist 5s 1927. M-N §103
100
M-N
lat 58 1930
list
Columbus
(O)
StRy..lOO
PreterreU
100
Coium Ry con 58 See Ph
Crosst'wn l8t58'33.J-D
Exch
56
list
list
12
45
7414
47
80
109
h list
X
list
290
1-25
150
§110
Consum Gas
77
92^2
106
(J
§
97
94
334
tixcU
97
89
list
4I4
list
li.'it
98 '4
9112
City)—
Ist 6a 1904
Consumers' L H
08 1938
105'2 IIDetroi t City
1
49
90
45
87
liall
J-J
Ist 58 1936
list
Buyer pays accrued interest.
Y Stk
& ElcclOO
100
Consol Gas of N J
9034
11a list
See
See N
113>2 Chicago Gas
Cincinnati Gas
107
162
74
105
VZ\
106
135
160
115
Stock Exch
1st 58 1947
155
'2
9112
101
112
108
J-J §109
J-J §106
Istus 1944
Consol 5s 1945
Biughamtou Gas os 1938
Buflalo City Gas stockl 00
no5
102
<fc
M.N 4100
101
§100
102
Pow—
J-I'
Gas
Price yor share.
I
NY
Am
1-2
Am
^Standard Gas com ..100
OTHKli CITIES
4
A-O
80
90
I
75
OTHER CITIES
A-O 110 112
58 1944
St
k
Exc h Ust Amer Light & Tract. 100
See
Ist 48 1951
100
Preferred
N Wb'gtfe Flat 1st ex 4^28 100 103 Baltimore
Consolidal See
Steinway Ist 6s 1922.J-J 5115
50
Bay State Gas
I
liCons Firew'ks com .100
103
HPreferred
100
50
ConsKy Ltucfc Relrig.lOO
58 14 Consol Rubber Tire. .100
65
85
B& NY
Ust
10
New Amsterdam Gas—
1st consol 58 1948.. J-J §10512 106
N Y G EL H&P See Stock Exch Ust
N Y <& East River Gas—
llPref erred
Exch
Exch
2d6s....l914oi)tA-0
100
Rochester Ry
100
Preferred
Con 5s 1930 See Phila list
J-D §101
2d 5s 1933
90
So Side El (Cliic) stk. 100
Syracuse Rap Tr 5s 1946 §100
I2I4
Unit Rys (St L Trans) 100
55
100
Preferred
Gen 4s 1934....SecStk Exch
Exch
UuitRysSanFran SceHXk
Wash Ry & El Co. ...100 10
44
100
Preferred
73 12
J-D
48 1951
4212
100
HWest Chicago St
UCong 5s 1936. ...M-N § 75
Cent Union Gas 1st 5s...
Con Gas (N Y) stk. See St
EqultGa8 00u5sl932 Se-e
100
IIMutual Gas
106
360
Trac 100
97
11334
114
Gas Seciu'ities
NEW YORK
103
235
330
100
M-N
<fc
58 1928
Pat City con Os
110
Exch
Exch
J-D
M-S
Gug5s 19oo
No Hud Co Ry 6s' 14 J-J
101
list
102
105
M-N
N J... 100
1933
48 g 1949
So J Gas El
108
List
list
99
232
of
New'k Pas Ry 5s'30J-J
Or tfe New Ist 68 '05 A-O
Essex Pas 6a 1905 M-N
Rapid Tran St Ry..lOO
A-O
Ist us 1921
J C Hobcfe PatersonlOO
400
106
410
X
X
<SeeStk
Tr ctf s 2% to 6O/0 perpet
North Jersey St Ry 100
Co. Elevated
iBt 48 1949 See Stock
100
Nassau Elec pre!
Ask
50
North Chic Str stock. 100
Pub Serv Corp of N J 100
BROOKLYN
Is.
Bid
MinneapSt By5s
NewOrl Rys Co
M
W
Street 14ail\vays
1st 5s 1928
J-J i 96
HLoui-sv St5sl930..J&J 2113
Lynn& Bos 1st 5s '24. J-D J112
28lli & 29lh Sts 1st 5s '96 ^10912 noh
1|Twenty-Th'd St stk 100 390 405
99
J-J
96
Deb 5s 1906
Union Ry Ist 58 1942 F-A 109 111
'43
J-J 101
105
Weatchest Ist 5s
Atlan Ave 5s 1909. .A-O
A-O
Con 5s g 1931
Impt 5s See Stock Exc
B B & E 5s 1933. .A-O
Brooklyn City stock... 10
Con 5s See Stock Exch
Bkln Crosstn 5s 1908. J-J
Bkn Hgts 1st 5s 1941 A-O
BkiuQCo&Sub SeeStk
Bklyn Rap Tran See Stk
found on a preceding page.
Preferred
209
Second Avenue stocklOO
Hist mort 58 1909 M-N n02^; 103 Ha
Consol5s 1948.... F-A ni2 1123.
176
TISixth Avenue stock 100 174
Sou Boulev 5s 1945. .J-J no2 106
..A-O
108
1919.
1st
5s
Fer
So
Third Avenue See Stock Exch list
P <fc 5s 1928 100 106
Tarry
YkersStRR 5s 1946A-0 103 106
W
be
Grand Rapids Ry....lOO
Ask
33
34
93
95
111stmort48 1950 ..J-J
245
T[B'y & 7th Ave stk ..100 242
99^2
101
J-D
lllst niort 5s 1904 ..
fl2dmort 5s 1914 ...J-J 104 107
Con 5s 1943 See Stock Exch list
B'way Surf 1st 5s gu 1924 no7 110
101
2d 5s int as rental 1905
UOent'i Crosst'n stk. .100 250 270
UlstM 6s 1922 ...M-N ni8 120
HGen PkN & E R stk. 100 202 210
187
TfChr'tTtfe 10th St stk 100 180
Colcfe 9th Ave 5s See Stock Exch List
Kings
Compressed Air Co. ..100
Cousolid Car Heating 100
Ask
Bid
:
Bid
CITY
Bleeck St<& Ful F stk 100
11
64
32
&
<
Total
A
60
HAmer Teleg&
Boston
Saturday
Wednesday
No Hudson L
Telesr
EXCHANGES
Week ending
March 25
1904
87
Kansas CityGas
100
10
115s 1922
A-O
99
KLaclede Gas
100
HPreferred
100
80
Lafay'eGaslst 6.s'24.M-N
60
50
Log<feWabVlst6s'25.J-D
Madison Gas 6s 1926.A-0 §105
Newark Gas 6s 1944. Q-J §136
Newark Consol Gas. .100 71
5s 1948 6'«e Stock Exch list
Pat
Government bonds
50
5s g 19.37
New York
Exchange
86I4
Iniliistrial anil .fliscel
Hock Coalifel pf 100
Lst gS.s 1917
JJ
Col
Ist 6s 1908
M-N 44
Indianapolis Gas stock 50
1st 6s 1920
M-N §104
Jackson Gas Co
$13,475,000
Week ending March 35
Sates at
Stock
Bonds
$1,036,000
2,668,500
2,850,500
3,475,500
1,928,500
1,516,000
»29,117.100
58,064,200
100,493,900
120,709,200
60,006,250
61,796,600
341,706
631,160
1,052,245
1,338,747
637,4 02
674,783
D S
State
di-c
Bonds
Par value
Shares
Saturday
Railroad
Ask
/^ii
200
Gas €& El Bergen Co.. 100
29
Grand Rapids Gas
F-A §101
Hist 5s 1915
Hartford (Ct) Gas L...25 t 47 12
Hudson Co Gas
5734
100
5s g 1949
See Stock ^Exch
Indiana Nat & 111 Ga.s—
STOCK EXCHANGE
WEEKLY AND YEABLY
DAILY.
iPeek
(Jas SeciiritH'n
Elizabeth Gas Lt Co.. 100
Essex & Huilson Gas 100
Fort Wayne 6s 1926... J-J
Stock Exchanges
of Business at
1213
oO|t
Sale price.
1
Am
Am
a Kx. rights,
i-j
«Ex iliv,
H
SoUa on Stock Kxchuugo, but not a vory active security.
31
.
BOSTON STOCK EXOHANaE-Stock
Shiirr lVlcr»— >'ol I'pr t'cniuin
WfdnfSilav
MatxK
M\ M
6«»«
March
March ia
HarcK J:
19
90
•343
J44
iss-» US',
232
10541654 16641604 166
•
us
183
ISS
Sft
76
2964
•JoVi'4
'
143
•
1-iO
•
186
13S
36
138
Si
74 Hi
.
,
2 117
U3
4
120
,186
•
3734
75 4
•170'«17JV, •170'4l72>« '170>4 172 v. •no** 172^
19i«
19 '4
•19
19
19
19
I'.'Vt
•IP
73
73
~2\ 7«<
73
73
72 4 72 4
•114 I'-"-.- 11»4 l-'3< •114 12 4 •114 12 4
19114190 4
lyOUl'Jl'K,
•201
•78
•2'i2"
""I
302
202
77
69
37
....
•75
69
8i>»8
•08>a 69
87
•
*
•65
76>4
684
•66
70
88
160
SOhi &7
•li'.O
77--%
•65
77
88
•904
8I34
13»a
•71
•4
•17»9
131a
134 134
72
4
4H*
19
18
126
12o'8l27
'162
....
92
110
92
110
L25
122Hj12S
107^
76
•
11 »«
75I4
4
115
•
•SI*
•6»a
234
•1G5
38^8
'li«
•117
•210
•84
•54
234
168
235
167
38^8
7888
SS'g
78^4
14
119
119
•7Vi
12634
125
1034
7534
ll^s
761*
4
115
334
S'^
5'8
54
•
174
117
*
*
4tJ3t
•74
10014 101
1
4634
*28>4
28^
78'4
78I4
51'8
11«8
5733
11°**
11'4
ll-^
59 »8
57
57 Og
13"%
ll"* Ills
5838 68>a
"60
•bO
•84
•75
•80
•90
25
•2
•99
•46
•2814
•46
51
80
83
100
2^
3734
*1'4
119
298
144
144
119 4 120
1&4
Mar'04
•161
277
Mar'04
140 4
38
•37
77
76 4 7t>4 •70
Last Sale 4:i
Mar'03
Last s ale 174
Mnr'04
1914 U)\
19
18 4
73
73
73
73
Last Sale 11^
Miir'04
1894 190 V
Last Salt 162^ Jan '04
190^4 190 »4
•225
*203
75
•69
230
204
203
225
230
204
75
71
75
•68
75
71
Laist Sale 35
La1st Salt 15^
Mar'()4
La St Sale 42
La St Sale y?
Feb '04
Feb '04
*6
70
8am, 82 >«
90
La
•90
9034
Oct '03
65
70
80
914
Sale 163
92
110
•90
1138
7634
4
115
S'g
578
14
*72
34
7834
175
l\
119
4
28
3
3
994
4634
2868
Feb '04
J'ly'03
Jan '04
1458
I418
14l8
73
72
•4
72
312
^
18
18
•174
1254 1274 1254
125 125 4 1254
124 14 1253, 123 4
^65
•60
•60
9
9
79
•81
•90
2I4
25
•
2
3
99
46
994
284
2334
46
79
84
96
80
•80
•90
80
84
100
2I4
•llie
11
I2414
11
76
7634
76
76 k
Last .Sale 578
Feb '04
Last Sale 114^ Feb '04
878
878
5 '8
7334
7834
14
134
1744 175
119
119
101 14 101 14
Last Sale
Last Sale
Last Sale
99
46
2858
99
4634
28»L
Last Sale
11=%
574 884
•60
84
75
•80
90
•eo
84
80
84
100
I26I4
126
11
54
878
•5
233
114 114
574 584
•60 •65
"814
*75
80
Last Sole
Last Sale
24
44
E.XCIIANOK
or
Jiangs tor Year
liangf lor J'reviout
1904
Year (1903)
the
Week
Sharm
lHyhesl
Lotvest
ItnilfoadH
Atoh Top
Santa FelOO 7,98
64 Marl 4
1)0
16^
l)r^^f
100
88 Jan 7
Boston ifc Albany
lot
117 242 4 Mario
Boston KU'VatPil
100
010 1137 Feb 6
Boston ift l,o*oll
100
9 230 Marl
Boston & Maine
100
166 1C5 Marie.
1)0
100
170 Feb 3
iiref
3
295 Feb 24
Boston <fe ProvltlencelOO
160 139 Fob 11
Ohio Juno Uy
U S YlOO
Do prof
100
66 1194 Mar 16
Con A Mont Class 4.. 100
182 Jan
Conn ife Pass Rlv prof 100
I61134 Mur23
276 Jan 25
Connooticut Kiver...lOO
106 135 Jan 2
Fltchbnrg prof
100
Qa Ry<fe Klectrlo....l(lO 1.075 24 14 Jan 2
Do pret
775 73 Jan 27
100
Houston El'trio com. 100
172 Jan 6
Maine Central
100
o30 16'.i Feb 26
Mass Electric Cos
100
iMarl4
Do prof
....100 1,069 72
10 Feb 13
Mexican Central
100
N Y N H <fe Hart.. ..100 346 lS»4Mar25
162 4 Jan 25
Northern N H
100
Norwich & Wor prof 100 "l4 222 Jan 29
Old Colony
100
4 198 4 Jan 7
500 75 Feb 16
Pere Marquette
100
Do pref
50 08 Marl7
100
Rutland pref
35 Marll
100
Savannah Eleo com. .10(1
46 " Jaiiis
Seattle Electric
100
90 Jan 26
Do pret
100
Terre Haute Elec....lOO
Mar 14
7138
Union Pacirto
100 13,348
Do pref
187 86 14 Mar 1
100
163 Marl4
Vermont & Mass
100
37 89 Jan 4
West End St
50
82 108 Jan 4
Do pref
50
174 Feb 26
Wisconsin Central. ..100
Do pret
100
145 Jan 7
Wore Nash* Roch..l00
.\fc
4
16738
38 14
7314
•1744
14
120
100
<.«,
Miscellnneou
Amer Agricul Chem.lOO
Do pret
44 Amer Pneu Serv
Do pref
184
11
54
•84..-
•60
10041014
834
914
Mar04
92
111
110
Last Sole 1
4
Last Sale 15
28
2104 210 2iOS 210 211
210
•74
Last Sale 74
•74
46»4
13»8
37-'4
>lar'04
295
21042104 210
994
61
784
174
119
994
28 >4 28 »8
298
Sales
STOCK
1
La it Sale 1?U
t
235 235
235 235
169 41694 a;167 167
3334 39
39 le 39 14
14
•2
•99
3
8»4
•54
54
174
•II4
25
•2
99>a
8 '8
784 784
78'>8
119
4
28
76
»
•113
235 235
1684 169
38-8 39
I68I4
3»'6
Ih
76I4
•
234
11
11
•
101>alomj X9934 9934
•
4
4
•17
18
126i4l27>4
125 125
124 124^6
44
18
126
12734
•1734175
134
28
212
•4
4
184 •17
4
115
•
•
o'e
4
•
•
11
7539
8^4
•78 "a
•174 176
72
139i«
16.'>>4 iii'ij" • 1
Sale 274
Sale 38^
Last Salt 145
144 144 •134 14
•724 73
72
72
4 1J44 125
123 4125
123 4 124
124'* 124 1*
84'>8
140
'140
72
70
904 914
'160
140
'140
75
69
37
•66
70
85
92
924 i»"i 4 •90
109 4109^4 '1094 110
y2'i
109 ^i
203
75
69
•374 45
'
yj>a
loa
203
•
•374 45
70
764
76»a
69
37
1904
2'28'"228'
222"" •222"
"202
•77 "80«8
•374 46
•a7»9 45
1904 190
190
70
90
244
•232
65
>232
4
14;^ 4 •i434 115
1194 n!"4 •119 4 120
Last .Sot*
185
160-\1614 •161
Last Sale
i39 4 i'394 140 '4 14014
•37
75 Vt
37
76
36
76
March 25
.'4
143
138' 139
754 764
232
167
*295'4'29"7
.
ISS
36
.Varch
J:i
lt0
J-i-i
*uu
Uumtiav
70>4
tiO
I
•
7
BOST(.)N
CO
704 68«8
71 •%
90 '4
it(»
90
4 OO^^
214
24 14 244
2434 21-1
•1384
139»4
139
139 139 4
68% 70 >s
»t>
STOCKS
l'rlc«<»
Weekly and Yearly
Record, Daily,
235
16738
39 >8
7834
17514
14
100
50
50
Amer Sugar Befln
100
Do pref
100
Amer Telep & Teleg.lOO
Amer Woolen
100
Do pret
100
Boston Land
10
Cumber! Telep & Tel 100
Dominion Iron & St
East Boston Land...
Edison Elec Ilium... 100
General Electric
100
Mass'chusettsGasCosl 00
Do pref
100
Mergenthaler Lino. .100
Mexican Telephone.. 10
N E Telephone
100
120
Mar'04 PlantCom t'st stk comlOO
Mar'04
Do pret
100
2101^ Pullman Co
100
Mar'04 Reeoe Button.Hole.. 10
101 Swift & Co
.100
25'^
Aug' 03 Torrington Class A. . 25
28
Sep '03
Do pref
25
2
Feb'04 Union Cop L'd& Mg 26
994 100 United Fruit
100
4534
4634 United Shoe Mach... 25
Do pref
25
7%
Feb '04 US Leather
100
Do pret
100
U S Rubber
100
Do pret
100
100
U S Steel Corp
575.
57 4
Do pret
100
•60
•60
West End Land
25
•314
West Telep & Teleg.lOO
75
80
Do pret
100
80
Mar'04 Westing El <fe Mtg... 50
95
Mar'04
Do jtvet
50
Highest
Mar23 54 14 Au(j 897s Jan
Jan 27 86 Auk 10314 an
2474 Jan 29 244 J 'no 262 4 Keb
1404 Jan
134 Auk 154 Jan
713f,
92
.J
('.
234
Mar
8 230
161
Jan 2
Jan 13
300 Jan 26
146 Jau 26
1244 Jan 19
184 Feb 16
1624 Jan 4
277 Jau 27
140 >4 Mar24
169
171
3734
7(3 J,J
Mar24
Mar24
174" Mar 5
24 Jau 21
80 14 Jau 27
14 J an 11
196 Jan 2
162 4 Jan 25
228 Mar23
204 14 Feb 6
804 Feb 1
75 Jan 13
39 Jan 20
42'
Feb"3
Jan 26
Au(j 250
Apr
J 'no 195
.1
170
J
290
J'ly
133
110
184
1 60
Sop 157
'III'
177
305
an
Apr
Mar
Jan
Jan
Nov 125
Nov 1964 Mar
Jau 170 Mar
270 Aug 286 Feb
131 J'ly 143 4 Keb
25 Oct 394 Jan
76 Dec 834 Jan
42 Mai 42 Mar
173 4 May 180 Feb
17
Nov 3734 Feb
75
Dec 96 Jan
869 Nov 2359 Apr
tl88 4 May 225
Jan
161 "4 Dec 1734 Mar
220 Sep 232 Mar
196 Aug 2124 Feb
74 J'ly 91 May
Sep 86 Jan
68
30 J'ly 71 Jan
7
J'ly
25
75
Jan
3434
Jan
Jan
914 Oct 104 4 Jan
6634 Aug 104 4 Jan
85 Mar 2
914Mar25 834 Oct 96 Jan
I6314 Janl2 i;162 Sep 178 Feb
93 Marie 87 4 Aug 97 Feb
92
J
110
Feb 26 108
174 Feb 26
145
Jan
7
804
13
Mar
3
I514
Janl3
7(1
71
3
Jan
5
76
Jan 23
15 4
Sep 116
Nov
2638
38 !« J'ly 52
144 Sep 150
Feb
Jan
Jan
Jan
9 Nov 26 Feb
664 Nov 86I4 Feb
4Eeb 4 5 Feb 2
3 Sep
162
7 Mar
6'
17 Feb27 204 Jan 2U 12 Sep 24 Mar
1224t'eb24
Oct
'25
10739
I3414 Jan
9,520
1314 Jau
574 122 4 Jan 5 1264 Jan 26 116 Aug 123 4 Deo
3,634 11914 Feb 19 1304 Jan 2 J 1144 Oct 169 4 Feb
Feb 19 1269 Jan 6
634 Oct
9
1479 Feb
2,337
65 Oct 7914 Jan
3,716 684 Jan 19 7634 Mar 2
695
10
105
71
2,760
438
5
150
229
154
155
,
Mining
Adventure Con
Lowest
577
855
90
40
400
27
787
7,522
600
115
7
334 Feb 2 3
1124 Jan 15
734 Feb 29
54 Jan 23
230 Feb26
157 Feb 26
3733 Maris
7734 Marl4
174 Feb 10
138Jan21
118 Feb 23
Marl4
1
15 Marl4
208 Maris
64 Jan 19
X9934 Mar21
34J'iy
37gFebl6
534 Jau
1144 Feb 9 115 Oct 127 Jan
6 4 Nov 62i4Jan
10 Jan 4
5 4 Oct
334 Jan
6 Marie
Dec 310 Feb
_!23
Jan
16
240
1784 Jan 22 133 Sep 204 Feb
437gJan 5 30 J'ly 4334 Feb
82i4Jan 5 74i4J'ly 8878 Feb
180 Marl2 I6434 Aug 190 Feb
liaOct
2 Jan 25
2 4 Jan
Nov 139 Jan
12234 Jan 28 121
9 Apr 20 Jan
4 Jan 28
15 Marl4
ib'fJ'iy
Jan
21938
22
237 Jan
eisDec 10 Feb
7 4 Feb 15
102 Jan 5 99 J'ly 132 Jan
25 J'ue 2634 Jan
28 J'ly 2934 Jan
134 Jan
2 Jan 16
Jan
16
5
Apr
2
95 Feb 8 100 Mar25 91 Aug 111 Jaa
45 14 Feb 26 484 Jan 25 38 4 Oct 53 Jan
28 Jan2» 29 4 Jan 25 27 Aug 31 4 Feb
Feb 9
7 Sep 15i8Feb
7
8 Jan 23
77 Jan 16 78 14 Mar21 7134 Oct 95 4 May
Oct 18 4 Feb
1034 Feb e 1468 J an 27
9
33 J'ly 57 4 Jan
404 Jan 6 54 Mar2
934 Jan 6 1258 Jan 2
10 Nov 39 79 Feb
4934 Nov 89 69 Jan
5438 Feb 1 5978 Jan 22
52 4 Marl4 •75 Jan 14 •50 Jan •30 Mar
8 Jan 4 11 Jan 25
7 4 Nov 28 Jan
76 Marl4 83 Jan 21 71 Oct 102 Feb
Marl4
78
85 Jan 21 67 Oct 108 Feb
9412 Mar 3 100 Jan 15 8034 Oct 110 Jan
1
2
Feb 15
2 Dec 18 Jan
3 Jan 18
25
925
314 Jan
8 4 Mar
4^8 Jan 21
AUouez
25 1,411 3»i8Mar 8
Feb
Oct 7558 Mar
43
8
3334
Feb
53
2
494 Amalgamated Copper 100" 34,101
-75
-76
Maris •50 Feb
1 >4 Feb
1
Amer Gold Dredging
i
100 •75 Mar21
•74 84
*94 10
8
10
9»4
978
97,
934
•958
8 Feb23 104 Jan 26
6 Jan 1234 Mar
934 Am Zinc Lead & Sm. 25
845
•164 174
Last Sole 16Ki Mar'04 Anaconda
1539 Feb 24 1978 Jan 12
1558 J'ly 31i4Fel>
25
••40
•50
••40
•50
•45
••40
•50
•40
-45
•45
••40
•50
6 4 Feb
Arcadian
1 Jan 23 •75 Sep
25
60 25 Feb 2
•
-25
•25
•25
•25
Sale
...„ •25
Last
26
'04
Jan
13
•25
•25
AJ)! •95
Jan
13
Mar
Jan
Arnold
25
"8*
'"74 8
8'4
Oct
74 74
8
8
Feb
11
8
7
Jau
144
834
20
7
Feb
338
Atlantic
25
340
8h
20
20
204 19»8 20
20
1934 2084
Mar 2 2378 Jan 21 20 Dec 39 4 Feb
193i 20^
204
2066 Bingham Con Min<fe S 50 3,046 19
••45
•45
•60
•50
•60
-50
••45
•474 •474 •60
•40
*'45
•60
Feb 3 •50 Mar23 •40 Dec •90 Mar
Bonanza (Dev Co)... 10
500
•445 449
447 450
447 447
449 454
454 463
459
460 Calumet & Hecla
112 435 Jan 4 463 Mar24 400 J'ly 551 Mar
25
Feb •10 Feb
Last Sale •OS
•08
May'03 Catalpa (Silver)
10
•16'8 174
17
174
I3I4 Centennial
174 174 1733 1814 1778 18«8 18
26 3,442 d 14 4 Feb 8 18<%Mar24 12 J'ly 3178 Feb
-7I4
'7'8
7'4
74 •718 74
74
74 •7\»
7 Jan 5
534 Sep
74 74
94J'ly
74 Central Oil
74 Jan 14
25
130
••57
'•55
•55 •60
-60
•60
•60
•55
•eo
-60
•60
•60
Cons Mercur Gold... 5
250 •55 Feb 6 •75 Jan 5 •35 Nov 12732 Jan
Sep
Last Sole ZO4 Sep '03 Continental Zinc
16
10
4
Mar
25
41
414 414 42^8 414 42
4134 43
42 4 4434
42 4
434 Copper Range Con ColOO 12,927 38 Feb 23 47 4 Jan 2 37 J'ly 75 Feb
30
304 274 30
26
284 29
30 4
244 27
294
30 Daly. West
20 6,846 244Mar22 36 Jan 2 31 Nov 484 May
59
69
59
594 60»8 61
61
61
59
59
68>4
58 14 Dominion Coal
100
595 5134 Mar 5 72 Jan 2 69 4 Oct 13178 Jan
10934 1104 110 110
1104
1104
15 108 Feb 9 113 Jan 22 106 Oct 118 4 Feb
Do pret
100
•2
•2
2
2^4
2",
214 "ihl
2 "4
2^4
24 •2
Feb 5 2 4 J an 6
2
2 Oct
5 Mar
2ii9 Elm River
110
12
•7% 8
•739
•74 8
74 8
7
8
7
738 Mario
74
9i4Jan 9
7 J'ly 14 Feb
8 Franklin
2
25
2S4
2^4 2i«i«
234
•234
234
•234
3
3
3
6i«Apr
334 J'ly
3
3
Granby Consolidated. 10 1,200 2»8Marl8 3i6ioJan 6
••96
II4
lis
II4
II18 Ihe
1>8 Ihe
3 Jan
Iha IHe
1
l^iMarlS •50 Dec
1 Guanajuato Consol..
5 2,970 •62 4 Feb 15
•74 8
5i4J'iy
74 7»6 •74 8
74 7'a 734 8
•74
7
Jan
4
26
17
4 Feb
734 Isle Royale (Copper). 25
94 Jan
110
4I4
S"*
334
334
34
J'ly
34 34 334 4
4
Feb
414
3
25
13
Jan
3
Feb
414 Mass Consol......
18
479
825
25
-75
•76
•75
•75
Dec
Last Sale •55
•50 Marl4 •87 4 Jau 22 •50
2 4 Jan
Mar'04 Mayflower
26
""434
• 414
4S4
"434
*
434
4 14 Feb 29
44
5
6
5
434 Dec
11 4 Feb
54 Michigan
6 4 Jan 5
26
360
354 354 36 4 364 36
3636
364 373, 3734 3334 "38"
38^ Mohawk
25 2,384 34i8Feb 8 394 Jan 19 31 J'ly 58 Feb
'24 34
•24 34 •24 34 2 4 34 Last Sol* 2\
2
Nov
Jan
19
J
an
2
2
8 Mar
14
4
Mar'04 Montana Coal <fe Coke 25
••50
•50
•65
••50
'55
••50
•56
•65
••50
•65
•65
259 Jan
•56
Montreal & Boston.. 5
50 •50 Feb 18 •624 Eeb 4 •55 Nov
May lis Jan
Last Sole 75
•75
May'03 National
25
*1
*1
1>»
II4
•1
1>«
1
1
•87 4
1'4
»1
J'ne
2 4 Feb
1^4 Jan 23 •50
1^ Old Colony
25
5 •87 4 Feb 27
94 94 10 10
•94 10
*9ia 10
934 12
Oct 234 Feb
914 Feb 9 13
Mar25
5
llH.
13 Old Dominion
25 1,875
•564 574 67 14 67 >4 56
67
5738 594
J'ly
60
•58
584
79
Feb
8
Feb
53
Jan
6
6276
43
694 Osceola
25
956
4
•22I4 23
23
23
23
23
23
26
26
25
26
16 J'ly 34 Feb
257e Parrott(SUv& Copp) 10 3,595 2034 ITeb 1 294 Feb 2
-l^**
•134
l'.
184
12
2
134
27„ Dec
134
74 Feb
14 Mar 8 3 Jan 25
75
Phoenix Consol
26
84
84
84
•82
84
85
•80
84
84
85
844
844 Quincy
50 80 Feb 26 100 Jan 5 80 Oct 1264 Feb
25
••874
114
•874 IVi •85
•85
•90
•85
*-85
•95
••85
•85
Nov
•75
Mar
2
•90
2
4 Feb
Jan
119
14
Rhode Island
25
50
*l>a
*lBg
Ih •14 1'8 •14
2
3 Jan
1% 1^8
14 Jan 2 2 14 Jan 20
1 J'ly
300
l^'e Santa Pe(Qold<fc Cop) 10
734
734
73,
7»ia
734
734
8
714 Jan 5
8
84
r«
7 Deo 14 78 Apr
914 Janlb
8 iJhannon
10 3,595
•90
•90
96
•90
95
95
90
98
98
•95
98
98 Tamarack
275 90 Marl4 120 Jan lb 75 J'ly 190 Feb
25
Nov l»i9Feb
Last Sale 75
•25
Deo '03 Tecumseh
25
Last Sale 33
1734 Jan 3334 Mar
J'Jj'03 Tennessee
25
4»8
434
434
4»s
4i4J'ly 14 Feb
44 434
44 44
334 Mar26
44
334
6 14 Jan 6
44 Trinity
25 3,336
6
6
4 Dec 3134 Jan
6 Marl9
6 Marl 9
United Copper
100
100
"2*1"^'
21
213g "211^ "2"io^
21'4 21'4 '2i3^"2*r«^ 21^' 2'i4 21" 4
16i4J'ly
27 4 Feb
UnltedStates Mining 25 5,450 18 Jan 4 22 Jan 2(1
9
9
•939
9'8
934
SHi
9^8
94
934
Is
Jan
8 Dec 17 Mar
4 10 Is Jau 20
94
94 Unit States Coal c&Ou 25 1,300 8
34I4
3378 33 'e
34
34
34
34 "4
34
Jan
3378 344
3359
May
3334
Jan
30
22
2
Jau
18
34
Utah Con (Gold)
354
5 4,977
*3>«
3'4
*3»8
34 •318 34 "338 368
314
34
3'4
14 Dec 9 Feb
3'4 Victoria
334 Jan 23
260 d2 14 Jan 2
26
54 534
64 54 •54 6
534
6
64J'ly 1 1434 Mar
64 64
Feb 23
7 14 J an 5
64 Winona
835 5
25
704 704 704 704 71
71
71
71
7114
71
71
714 Wolverine
97 69 Jau 5 76 Mar 9 61 J'ly 77 Mar
25
'•60
'76
••65
'75
•60
•60
•60
-75
•75
•70
75
•70
•50
•76
Oct
Feb
1
2 79 Mar
23
4
Wyandot
800
25
14 Jau
>B«forepay't of asseas'ts called in 1903. d Before pay'totassess'ts called in 1904. •Bldaudasked.
New stock. tAss'tpaid. tEs-riehts. oEx-dlv.irlghU
2»4
•34
474
4
48«8
2'4
3^8
214
369
4
47'8 49^8
4738
3 '8
4814
24
2>9
4
48 "« 48^8
4858
*2>4
31B16
4
50
24
414
2^4
4I4
4858
t
44
6
11
Mab.
26, 1904.]
Boston Bond Record.
BUND!»
Am Bell Telephone 48 1908 J-J
Am Telep & Tel coll tr 4s. 1929 J-J
Atch
Oonsol 58
Boston <fe Lowell 4s
Boston <fe Maine 4^23
1907
1944
Improvement 4s
1905
Bost & Mon 3d issue 7s. . . 1904
Boston Terminal 1st S^as. 1947
Bur & Mo Riv ex 6s
1918
Non.exempt 6s
1918
SuLfcmg lund 4s
1910
Butte <fe Boston 1st 6s
1917
Cedar Rap & Mo R 1st 78.1916
2d 78
1909
Cent Vermt
Chic Burl
99
extend 48.1905
Iowa Div 1st 5s
1919
lowaDlv 1st 48
1919
Debenture 58
1913
Denver Exten 48
1922
Nebraska Exten 48
1927
SWsI4s
1921
i2S
Illinois Div 3
1949
Joint bonds See Gt Northern
Chic Jc Ry <fe Stk Yds 58 .1915
Coll tnist refunding g 481940
Ch Mil <fc St P Dub D 68.. 1920
Ch
& St P Wis V div 681920
Chic & No Mich l8t gu 58.1931
Chic & "W Mich gen 58
1921
Concord & Mont cons 48.. 1920
Conn & Pass R 1st g 48. ..1943
1927
Current River 1st 58
DetGr Rap<feW I8t48...l946
Dominion Ooal Ist 68
1913
1906
Eastern 1st gold 6s
1915
ritchburg4s
1927
4s
Fremt Elk& Mo V l8t 68.. 1933
1933
ITnstamped Ist 6s
B&
M
QtNor CB&QcoUtr4sl921
102
81
F-A
A-O
J-J
J-J
M-N
J-D
J-D
A-O
A-O
A-O
MS
M-S
MS
M-S
A-O
A-O
87
8934
Feb '04
IO412 Apr'OO
117 Feb '04
9978 Jan '02
110
110
117
117
101
II212
113
102
99
Mar'03
Jan '03
Peb'04
Mar'04
Mar'04
100
128
J'ne'Ol
80
Sale
81
99^8 Mar'04
107 Jaji'04
IOOI4 Feb '04
A-O
A-O
M-N
J-J
Mar'04
99
104 14 Jan '04
9914
99 14
.
IO6I4
9&I2
Cons
113
102
99
113
102
99
128
128
79
81
99>2l00
100 14 100 14
104 14 104 14
9914 100
Dec '02
98»2
1912
Marc Hough .fcOnt let 68.1925
Mexican Central con8 48. .1911
IstconsincSs
Jan 1939
2d cons inc 3s
Jan 1939
Mich Telep cons 6s tr rec.1929
Minne Gen Elec con g 58 1929
New Eng Cot Yarn 58. ...1929
New Eng Teleph 68
1906
68
1907
6s
1908
58
1915
98»2
66k
Monday
March il
67
66'4
67
90
10
90
••934
97e
10
^\
1714
T'e
»16ia 17i«
734
Tuesday
March 22
67
90
'10
67
7'e
67
6768,
10
lYiday
March 25
671a 68
734.
68
Stocks see below)
66
102
96
Sale
lOl'fe
'04
Jan
851a
J'ne'03
F-A
J-D
F-A
12
105
Oct '02
102
90
F-A 100
101
Mar'02
Nov'03
Mar'04
M-S
102
103
104i«
J-J
101
M-N
J-J
J-J
J-J
10118 1021a
10136
1201a 1203*
100
991a 100
latest bid
Daily,
and asked.
101
10088 10238
94
94''a
100 la 102
7118 Dec '03
10314 J'ne'03
105 la J'ne'03
10234 Apr '03
10218 Nov'03
99 H,
991a
87i4J'ly'01
11238 Oct '03
F-A
M-S
M-N
F-A
9713
101
107 Feb '03
102 '4 Feb'04
94 'a Mar'04
lOlHi lOlia 102
M-N
MS
7012
16"*
96
102
1201-2
1201a
J-J
J-J
J-J
J-J
98>al00i3
H Trust Co. ctf s.
Weekly, Yearly
Sange jor Year
1904
tlu
66I4
I6I4
66 14 Feb '04
I6I4 Jan'04
914 Sep '03
75 J'ne'03
104 Mar'02
96
96 li
102 Jan '04
103 Feb'04
106 1« Mar'03
101 !« 101 's
101 Mar'04
112 May'Ol
100i«Oct '02
101 'e101 Is.
J-J
Range
lor I^evioik*
Year (1903)
Week
SJiaret
860
71
145
72 la Jan
84 la Oct 118 Jan
581a Deo
Mar24
Jan 27
1034 Jan 2
2134 Jan 2
838 Jan 26
638B'eb24
571a Jan 5
871a Jan 18
63
91
8i4Feb25
210 1534 Jan 16
945
Highest
Lowest
Highest
Lowest
Baltimore
Consolidated Gas
Northern Central
69
91
93^
104
1071* 108i«
101 14 10134
12134 122
102i3Oef03
A-O
j
97
128
99 's
110
118
1143^ Oct '03
Sales
100
50
*934 10
Seaboard Air Line
100
•1634 1714
prel
100
Do
•788
8 United By & Electric. 50
*90
lOl^B
03
F-A
A-O
A-O
A-O
Friday
0/
(For Bonds and Inactive
Thursday
10
8
No price
101 13
122
102
J-J
J-J
Exchanges— Stock Record,
March 24
l7i« 1718
8
•
ACTIVE STOCKS
90
IOI4
•le^e 171*
778
8
I714
Wednesday
March 23
Bonds.
104
104
107 1« Feb'04
J'ly
J'ly
.
Share Prices—Not Per Centum Prices
Saturday
83'2
104
107
J-J
Ist 68
97
128
97
108
117
92
83
104
931a Feb'04
83>2
831a
96
931a
NY<feNEngl3t7sir.I!!Il905 J-J
9812
NOTK—Buyer pays accrued interest in addition to the purchase price lor all Boston
March 19
109
117
A-O
A-O
A-O
1st 48
January 1
55 iC
High No Low High,
96
96
Jan '04
97 Feb'04
128 Jan '04
Pgi-j
99 li
108 Feb'04
1\1\ 1171a
127
J-J
J-J
.
Philadelphia and Baltimore Stock
96
A-O
A-O
A-O
J-D
M-N
M-S
M-S
A-O
1905
91
91
92 12 Old Colony gold 48
1924
91
Greg Ry <fe Nav con g 48. .1946
106 13
10634
IO634
106 10634 Oreg Sh Line 1st g Gs
1922
95
98H 97i<2Jan'04
9712 97^! Repub VaUey Ist s f 68.. .1919
124
12434 Feb '04
12434 125 »2 Rutland Ist con gen 4i2S.1941
I2312
124»2Jan'04
Rutland-Canadian 1st 4sl949
1241UI2412
101
101
101
100 101 14 Savannah Elec 1st cons 68.1 952
105»2lOe>2 IO512 106
105J2l06''8 Seattle Elec 1st g 5s
1930
109i4Mar'02
Torrington Ist g 5s
1918
11214 Jan '03
Union Pac RR <fe 1 gr g 4s. 1947
100 102 100>a 100>2
IOOI2IOOI2
Ist Uenconv 48
1911
95i« 97
95 >2 Mar'04
U nited Fruit conv gen 58 1 9 1
95\i 98
lOS Sale 108
1U8
105 Ja 109
US Steel Corp 10-60 yr 58.1963
104
IO418 IO418
104iel04»8 West End Street Ry 4s. ..1915
103 Jan '04
1914
103 103
Gold 4128
llli4May'02
Gold debenture 48
1916
137 Feb'04
Gold 4s
137 137
1917
136>a
137 Fel)'04
137 137
Western Teleph & Tel 5s. 1932
1361a
9134
9234 Sale
93 "u Wisconsin Cent Ist gen 481949
933s 81 90
9238
9318
6 9038 9318 Wisconsin VaUey Ist 78.. 1909
"98>i;
Last Sale
Ask Low
J-J
Illinois Steel
KanCStJo&GB Ist 78. .1907
LR&FtSmldgr l8t78...1905
Mame Cent cons Ist 7s.. .1912
Sange or
'25
March
Bid
deben 58. ...1910
Non-couveitdeben 58. ..1913
la Falls cfe iSioux C 1st 73.. 1917
KanCClin<fcSprl3t5s...l925
Kaji C Ft S <fe Gull Ist 78.. 1908
Kan C Ft Scott <fe M 68. ...1928
Kan C M & B gen 48
1934
Assented income 5s
1934
Kan C <fc M Ry & Br Ist 581929
9^34
83 "^ 94
99
Feb '04
11714 Feb '03
128
113
^:!
J-J
1921 Q-J
Registered 48
113
111
A-0
J-J
42
99
97^2
97 «8
88
M-N
F-A
M-N
M-S
20
98»8
F-A
J-D
9834
110
g4s..Mayl920
1st
&Q
Sale
J-J
Nl-N
Low High
90 V2
92 103
113'uFeb'03
J-D
J-J
J-J
J-J
January 1
JS'o
98 Vj
98^4 Sale
92 Sale
M-S
A-O
Xov
M-S
1924 M-S
=^^
liange
Since
Wetk's
Price
Fi-iday
BOSTON STOCK EXCH'GE
Week Ending Makch 25
High
Last Sale
Ask Low
Bid
Nebraska 1st 7s.. 1908
AtchTop & S Fe gen g 4s. .1995
Adjustment g is
J'ly 1995
Boston Elect Light let 68.1908
<fc
Range or
Friday
March 25
BONUS
Jiange
Since
TTeete's
BOSTON STOCK EXCH'GE
Wkkk Ending March 25
1215
1034
Dec
281*
20
8
Oct
Oct
45
Jan
Jan
14i4Jan
i
Philadelphia
tiot^
j.
?:•
2034.
278
8l8
•21a
•«
35
•661a
35
58
3934
6
1334
3534
6734
35»4
3«8
58*2
3934
'8
318
"le
78
"16
318
*3ia
8^16
8I19
12
12
She She
35
67
35
67
3634
334
334
587i958i3i6
3934
6
434
*6634 68
3534 36
334
3iiie
3534
40 14
58
40
6ii6
6
1334
22iie
*29
30
481a 48''8
84 14 841a
*29
2934
481a 481a
84 >4 84I4
8438 8434
PHLLABELPHIA
Bid
714
Amer Iron <&
50
50
Cambria Iron
50
Central Coal & Coke. 100
Preferred
100
Conaol Trac Pitts
50
50
Preferred
Danville Bessemer... lia
Diamond State Steel.
Preferred
Easton Con Electric... 60
Elec Storage Batt
100
Prefen-ed
100
Germantown Pass
50
Steel
Bell Telephone
Ask
45
46
Preferred
49 7<
Steel.
77
44
50
10
11734
IOOI4
118
93
102
115
J-J
107
48 g
49
NY Ph
<fe
2651a
49 14
60
;
3,325
15,324
6,745
3,145
J-D
M78 1911
ConM 68 g 1911. --.J-D
Con
Ex Imp
Con
M 4s g '47. A-O
M o£ '82 4s
'37. J-J
Terminal 58 g 1941. Q-F
W & B col tr 48
'21. J-J
Rochester Ry con os 1930
S R E Side 4a interim ctfs
U Trac Ind gen 58'19. J-J
U Trac Pit gen 5s '97 J-J
Welsbach s £ 53 1930.J-D
No 1st 48 '39 J-J
68 r 1910. .Var
Anaco8tla<& Pot 58
Chl8t7.. .1907 J-J
L RR431952M-S
Atlau
Atl Coast L(Ct)ctf 8 5s J -D
Ctfs of indebt 4s ... .J-J
Bait C Pasa Ist 58 '11 M-N
B:at Fundg 5a. 1916 M-N
Kxchango 3 laa 1930 J-J
Refunding 3 128 1952 JJ
AU&
112
4,160
Bid
734
10
30
278
Mar
Lowest
is
ex-dlvldend.
H Ex-rights.
\ if
15 paid.
Jan26
Jan 20
131a Feb 8
3812 Feb 6
67 Jan 27
381a Jan 25
4I16 Jan25
oia
8"^
8934
.
Nov 36 J'ly
Aug 7934 Feb
341a Nov 4578 Jan
19
64
liaSep
5536
Nov
35
Oct
5
734
1334
Aug
Chas Ry G
Jan 22
76
20
Oct lieiaJan
Aug 31
El 58 '99 M-S
Charl C €& A ext 58-'09 J-J
1910 A-O
2d 78
99
65
64
1161a
106 1051a City & Sub l8t58-.'22 J-D
126
,
11934
Clty<fe
<fe
Sub(Was)lst58'48
Col&Gmv Iat6s.l916 J-J
Consol Gas 6s.. .1910 J-D
113
1939 J-D
58
104 la 1051a
Ga & Ala 1st con 58 '45 J-J
102
GaCar&Nl8t5sg'29J-J
122 123
Georgia P 1st 6s... '22 J-J
10134
IO8I2 111
GaSo & Fla Ist Ss 1945J-J
G-B-S Brew 3-4s 1951M-S
10234
2d income 58 1951 M-N
971a 98
Knoxv Trac Ist 5a '28A-0
111
LakeR El Ist gu5s'42M-S
67
56
MetSt(Wa8h)l8t58'25FA
Mt Ver Cot Duck Ist os.
Incomes
150
108
Npt NifcO P Ist 5s'38 M-N
1911 M-S
Geuonil 08
62
95
50
95
70
Norfolk St l3t58'44..J-J
North Cent 4 las 1925 A-O
J-J
68 1904
series A 58 1926.. ..J-J
3
4
234
31a
107
220
80
33
36
90
92
10712 1081a
9 2 la 92 -'4
109 111
87
108
118
106
90
109
119
107
Series
Pitt Uu
B
63 1926
J-J
Trac 58 1997. J-J
Poto Val 1st 58 1941- -J-J
SecAvT(l'itts)58'34 J-D
Sav Fla .fewest 58 '34 A-O
Seaboard A L48 1950 A-O
Scab tfc Roau 58 1926. J-J
South Bound Ist
5a.. A-O
U Kl L&P I8t4ia8'29 M-N
Uu Ry<S; El l8t43'49 M-S
Income 4s 1949
....
N
WU
Mar
Bid
Ask
33
111
110
85
1134 114
901a 91
115
109 »8 10934
IIII2 112
10234 10314
107
108
121
122
113 114
47 la 43
21
221a
101
114
1161a
61 la
1434
106
62
16
98
106
111
lOl^B 102
113
117
112
110
113
112 4
69
106
106
80
903,
J-D
Ist 68 1906.. M-S
2d series Os 1911.. .M-S
3d serioB Os 1916. .M-S
4Ui8er 3-4-58 1921.
6th series Os 1926.M-S
Va (State) 3s new •32.J-J
Fund debt 2-3a 1991. J-J
West
C con 68 1914 J-J
WesVa C& P lal Og'll J -J
<fc Wold 5s.. 1035. J-J
Va Mid
MS
IO2I4
4 Jan
7334 Jan
4734 Feb
9 Jan
1773 Jan
Dec
Nov 34iii6Jan
36 Sep 441I18 Feb
2734 Nov 4018 Jan
40^8 Sep 4734 Feb
BALTIMORE
Ask
.
||
3
82i4Feb24
99I4
Balt&PlstOsml'll A-O
Penn & Md Steel cou Os. 107
Trac 1 st 58. '29 M-N 112 la
Pa & N Y Can 78 '06. J-D lOOh 107 la Bait
No Bait Div 58 1942 J-D 116
A-O no's
Con 58 1939
Coiivertiblo 5s. '06 M-N 101 Hi
97
99
A-O
Con 48 1939
Ceut'lRycou58l932 M-N 113
Penn Steel 1st 58 '17 M-N 10434
Extcfc Imp 58.1932 JI-S 112
104
People's Tr tr certs 4s '43 103
P Co lat<fe col tr 5s'49 M-S 107 V IO8I4 Chas City Uy Ist 5s '23 J-J 103
no sales on this day.
Jan 30
14 Jan 23
16ieFebll
52 38 Mar 1 404iaJan27
114 20S8Febl9 31 Jan 22
1,344 45^4 Jan 2 49 Mar24
Bonds
10188 102
91
Income 4s 1939. ..M-N
No Penn l»t 48 '36. -M-N 110
M-S
1905
Deben 68
21
6
Jan 12
1 la Jan 19
I4
BALTimORE
.
1914. Q-F
45
1838 Jan
Dec 52 la Jan
1714N0V 2634 Jan
igNov 9»i9Jan
38 Deo
4934 Jan
IOI4 Jan
7ii6 0ct
10 Dec 11 Deo
4034
5578Marl2 611a Jan 27
38 Mar 3 43 Jan 22
534 Feb 9
69i8Janl3
325
8 Jan 6 11514 Jan 21
68,054 19iaMarl4 24 Jan 25
M
M
43 14 Jan 18
Feb 8
Jan 6
Jan 11
621a Jan 14
4,163 3334 Feb 26
Inactive Stocks
Atlanta & Charlotte. 100
50
53
Atlan Coast Line RR 100
10634 107
AtlanCoastL (Coun)lOO
102 14
100
Canton Co
10334 109
Georgia Sou cfc Fhi...l00
109 14 1091a
100
1st pref
111
100
2d pref
1161a 11634 G-B-S Brewing
100
12034 Mt Vernon Cot Duck
i37i^ 13812 Unit Eleo L & P pret.50
75
Consoiesc 1905. ..Var lOlia
Consol 58r 1919. ..Var
3I4
Coal... 50
107 "a
81
J-D
ConsolOs 1923
J-D
Annuity 68
10414
Leh V Trac lst48'29. J-D
Nat Asphalt 58 rects
la
New Con Gas 5s 1948 J-D 106
Newark Pass con os 1930 112>4
234
50
Steel. 10
97 la
lOO
621
25
103
204
Phil Elec gold trust ctfs.
Trust certifs 4s
P & E gen 5 g '20.A-O
Gen
48 g 1920.. A&O
Ph & Read 2d 58 '33. A-O
P
1051a
11134
97
152
2,637
2,900
PHILADELPHIA
Ask
Rid
1932
Ist 53. '33
Gen M 4ia8 g.l924.Q-F
Leh V C 1st 58 g '33. .J-J
Leh V ext 48 1st 1948. J-D
M-S
2d 78 1910
10
Bid and asked prices
By 1st con 58
F-A
3-3 12-48 1943
Nav 4ias '14. Q-J
Steel..
Warwick Iron
West Jersey & SeaSh.50
Westmoreland
84 »a 8434
Atl City l8t 58 g'19,M.N
Balls Ter 1st 58 1926. J-D
Penn gen
10
<fe
291a 291a
48^4 49
Interstate Rys
44 14
155
9538 95=8
United N J RR & C. 100 263
Unit Pow & Trans.. ..25
United Trac Puts
50
Preferred
^^39- 39
PHILADELPHIA
RRs
PhU German & Norri8.50
&
4834
8434
Lehigh
Pennsylvania Salt
50
Pennsylvania Steel.. 100
Preferred
100
PhUa Co (Pitts) pref... 50
Susqueh Iron
40
30
40
6
*14
334
5938
4018
6
141a
22=8
Elm & WU Ist 68 '10. J-J 10334
Eq II Gas-L 1st g 5s 1928
H B Top con 58 '25 A-O 106
801a
Indianapolis Ry 48.1933
12
North Pennsylvania.. 50
Penn Gas Coal
50
Tidewater Steel
334
<fe
MinehUl & Schuyl H..50
Nesquehoning
50
Railways General
Uia
223ia22iii6
4334
84I4
681a
3718 3734
37t,
"14
'39
•29
*67
60
40'4 4OH1
6
5i»is
4
81s
E & A 1st M 5s 1920 M-N
Elec & Peo Tr stk tr ctfs
5712
10
50
Phila Traction
661a 67
36I4 3714
•3
•8
ConTracotN J
KeystoneWatchCase.lOO
N Haven Iron &
4
8iie
8*16
Col St
50
Little Schuylkill
•3
431a
201a
*»4
ChOk&Ggen 58 '19
Pow & Chem.50
Brothers
431a
201a
Berg&EBrwl8t6s'21J-J
118
Bethle Steel 6s 1998. Q-F
Che & D Can 1st 58 '16 J-J
Choc & Me 1st 58 1949 J-J 108 13
Keystone Telephone ..50
liit
201a
"
'8
7% Al Val E ext 78 1910 A-O 117%
31a AmRysconvSs 1911. J-D 100
Harrison Bros pref. ..100
IndianapoUs St
100
Preferred
4334
2OI4
Bonds
Inactive Stocks
American Cement
10
Inter Sm
*43
334
58i3i8 58i6i6
40^2
6
•14
14
14
141a
211I18
2134 22»i8
2218
3912
391a 3934 *39
6
•39
391a
*29
291a
481a 481a
4313 431a
2014 20«g
431a 431a
201a 2034
431a 431a
•43 14 4334 American Railways.... 50
20I4 Cambria Steel
20
50
*«4
7, Conaol Lake Superior.. 100
*2ia
100
Do pref
8I16 Electric Co of America 10
"8
*11
12 Gen Asphalt interim ctfs.
3534 3534
Do prel interim ctfs.
Lenigh Coal & Nav
50
*8e'^ 67
37 14 Lehigh VaUey
50
37
3^8
100
4 MarsdenCo
Pennsylvania
RR
50
687i8 59h6
40
40 Philadelp'a Co (Pittsb) 50
6 Philadelphia Electric. 25
6
14
14 Phila Rapid Transit ... 50
50
211a 2214 Beading
*39
50
40
Do Ist pref
2«i6ia29iBi6
Do 2d pref
50
50
49
49 Union Tracton
50
841a 841a United Gas Impt
•20
WelsbachCo
100
25
>4
119
119
115
112>a
69-'4
107
Hi
91
6334
103
109
110
108>s 1091a
109
92
93
116
111
116
93
04
116
112
118
.
..
..I
...
..
.
.
.
THE CHRONICLE
ijn;
luucstmcnt and
—
'
.
[Vol.
lxxvul
^>aiTvo;x(I |utclligcwcc.
RAILROAD GROSS EARNINGS
The following table shows tlu> prross earnings of every Steajw railroad from which rej^ular weekly or monthly returns
Ih» obtained. ''TIio first two columns of (inures p;ive the j^ross earnings for tliR latest week or month, and the last two
columns the earninKS for the period from July I to and inoludiup: sucti latest week or month.
The returns of the street railways ai'e hroiiijht together separately on a subsequent page.
ran
LaU*l urots Aamina'
BOJLDS
or
Mont\
AlaOtSoutliorii. Jd wk Mar,
rexH> I'aiMilo.
Ala
N O A NoKast February..
Ala* Vlckeb'i; February.,
NO*
liilv
1
io iMttisl
Ourrent
Year
Current
Prevloxuf
y'far
Year
53,377
46.298
2,182.834
Latest dross
J)att
ROADS
Previous
Year
1,868,295
207,734
119,2S7
Weelc
or
Manls
& No East
t
I
.
WH
.
YT&Mex
H&E
.
V&N
.
.
.
W
Yazoo
VA1&IOCJS FISCAIi
Gross Earnings
Allegheny VaUey
Jan- 1 to Jan. 31
Atlanta & Charl Air Line.. Mar. 1 to Jan. 31
Atlantic & Birmingham a Dec. 1 to Jan. 31
Bellelonte Central
Jan. 1 to Feb. 29
Chicago & North West.TT... June 1 to Feb. 29
Chic St P Jlinn & Omaha.. Jan. 1 to Jan. 31
Cvmiberland Valley
Jan. 1 to Jan. 31
International & Gt North'n Jan. 1 to Mar. 21
Lake Erie <fe Western
Jan. 1 to Feb. 29
Manistee & North Eastern Jan. 1 to Jan. 31
Manistique
Jan. 1 to Feb. 29
Maryland & Pennsylvania Mar. 1 to Jan, 31
Missouri Pacific
Jan. 1 to Mar. 21
Central Branch
Jan. 1 to Mar. 21
TotaL
Jan. 1 to Mar. 21
tMexican Central t
Jan. 1 to Jan. 21
Mexican International ... Jan. 1 to Jaui. 31
Current Year Previous Tear
Decrease.
3.130,452
118,073
10,018
41,525,304
919,678
149.750
1,096,744
710,504
43,141
12.548
290.583
8,876,557
388.000
9,264.557
1.432,704
532,623
$37,596
2.199,210
,lnly
Ourrent
Year
Previous
Year
f
$
LE
& Miss.
V.
1
to
Current
Year
43.141
35,980
6,496
3,339
18,336
19,194
513,539 425,352
582,623 644.393
WkMar 5. 120,500 118,600
21,440
20.243
Istwk Mar
6,183
4,360
February..
9,646
11.171
2d wk Mar
51,904
52,909
3d wk Mar
2d wk Mar 106,812 123,689
2dwk Mar 305,826 285,390
3dwk Mar 738,000 665,000
33,000
26,000
3dwk Mar
3dwk Mar 771,000 691,000
8,473
3,554
Wk Mar 12
2d wk Mar 131,074 140,557
3d wk Mar 200,242 194,468
3d wk Mar 221,022 212,246
7,643
8,940
February..
1,738
2,492
January ..
February.. 5,390,449 5,810,521
449,094 569,063
January...
195,522 283,951
January...
January.. 1,777,597 1,776,202
697,336 »58,136
January...
February.. 2,932.880 3,015,700
36,554
30,550
January...
13.161
14,295
January...
406.061 392.365
January...
January. . 3,473,874 9,567,174
Dec. 33 2,800
January. .
3d wk Mar 226,850 226,831
956,040 1,047,740
January..
449,179 547,962
January .
Feuruary. 1,784,980 1,649,124
3,001
January..
February. 2,574,171 2,794,984
February.. 3.429,204 2,977,386
February.. 6,003,375 5,772,370
104,465 111,148
January .
45,522
44,810
-January...
8,439
8,741
2d wk Mar
January... 3.478,079 3,883,296
118,238 144,026
January...
2,911,360 2,759,480
J anuary.
3d wk Mar 133,584 124.999
190.225 184,977
February,
74,341
74,972
February
2d wk Mar 288,138 265,433
70,823
97,207
February..
January... 7,118,840 7,002,040
January... 1,460,659 1,349,578
580,584 593,810
January...
99,724
77,226
January...
10,300
12,547
January.
161,821
161,517
January...
January .. 417,904 473,036
36,645
30,084
January ..
January... 312,659 283.974
65,523
70,159
Januitry...
T anuary .. 2,619,233 2,503,802
453,189
January.
302,477 287,550
.January.
2d wk Mar 942,092 881,858
161,657 146,139
February..
42,006
50,155
February
8.151
11,557
2d wk Mar
3d vre. Mar 210.372 219,036
9.800
9,900
February,
64,080
59,695
3d wk Mar
26,814
26,967
2d wk Mar
50,356
55,293
3d wk Feb
10,748
14,098
istwk Mar
January
4,093,778 3,824,428
43,492
41,466
February
3d wk Mar 400,082 394,486
January
200,710 198,910
76,278
3dwk Mar
88,456
11,244
14.973
January.
3dwk Mar 118,700 126.511
Febiuary..
15,819
18,183
February..
732,690 580.762
Tanuarj' ..
ManlMtlque
February..
Maryl'd & Penn.. January...
tMextoanCent'l.t 3d wk Jan
i Mexican latern. January...
193,937 1,672,404 1,510,076
766,575
891,896
93,843
131,l)0-l
998,315
853,375
109.807
Vu>k!*l> Sh A- IV f'abruary..
AttC.
inc..
310,688
37,596
AUeu'liPiiy Viilley famiary ..
t Mexican Ry
32.-1^0
1,405,000
1,403,971
42,595
Mexican South'u
3(1 wk Mar
Ann Arlior
5.-107,32y
41.219,599
37,071,982
5,376,929
MUlen <fc So'w'n.
Atoll Top A 8 Fe. January...
307,552
1,859,080
254,550
2,068,953
Mineral Range..
AtlBiitu ^^c OUar.. Jauinvry...
.12,195
454,668 Mlnneap <fe 8t L.
474,283
50,730
At Knoxv \- No. February..
55;,1U4
M 8t P & 8 St M.
Janiuiry.
Atliintli- * Hlr.
All Coast Line.. January... I,72t>,175 1,619,979 11,403,283 10,881,738 Mo Kan & Texas
14.1>24
95,620
69,164 Mo Pao & Iron Mt
9,376
Bait .t Ann S L.. .January...
Central Branch
February 4.G34:,S0t) 1.481,472 43,461,175 40,076,291
Bait A Olilo
155.0S1 132,475 1,141,700
997,780
Total
BiiUifor i» Aroosi January...
5.0!?'J
46,961
41,044 Mob Jack & K C.
6,009
Bellt>fonte CenfJ February..
27,204
3,355
30,776 Mobile* Ohio...
4,972
Brirtk't & Saco K. January...
142,34:2
139,495 5,412,523 5,254.106 NashCh&StL..
Bull Kofh * f itt> 3d wk Mar
67,OU.S
586,701
588.489 tNat'lRRof Mex
83,106
Bultalo i&Susq... January
41), 100
43,700 2,256,400 1,548,550 Nev-Oal-Oregon
Cauiidian Nortb.. 3d wk .Mar
849,000 840,000 32,672,087 30,907,653 Nevada Central.
Canailuiu facUlc 31 wk Mar
201,300 197,050 6,952,490 6,777,985 N Y O & Hud Rlv
Ceut'i or Georgia -M wk Mar
Ceui'l of N Jersey February.. 1,553,503 1,620,532 14,233,077 12,016,778 N Y Ont & West.
Central Paoitlc. January .. 1,460.059 1.349,57b 13,775,430 12,847,305 N Y Susq & West
2,7GS
79,215
2,333
84,630 Norfolk & West'n
Ohattau SoutU'u. d wk Mar
Clietiap «fc Ohio... January... 1,552,42H 1,550,567 11,201,993 9,140,361 Northern Central
908,103 846,b99 6,985,819 6.033.754 North'n Pacltio..,
Cliio<fe Alton Ry. January.
150, S59
147,595 6,102,466 5,614,267 Nor Shore (Cal)..
Clilo Gt Western. 3d wk JMar
98,452 102,312 3,725,982 3,464,421 Ohio Rlv& West..
Cliic luil itL'r... 2d wk Mar
Chic Milw <te 8t F January... o,652.43s 3,498,149 29,856,096 28,676,117 Pacilio Coast Co.
ChiLcfeNorth
February.. 3,709,125 3,497,399 36,728,075 32,554,471 ePenn— EastP&E
eWeatP&E....
ChicSt P AI &0. January... 919,07s 959,365 7,377,929 7.461,686
25,942
34,077 1,142,669 1.256,114 Pere Marquette w
Chic Term Tr Kh 3(1 wk Mar
CiuN OifeTPac. 2d wk Mai 119,320 109,086 4,702,861 4,007,706 PhilaBalt&W'sh
ClCluCliA StLi. January... 1,308,419 1,551,489 12,438,551 11,814,597 Phlla <& Erie
229,067 237,460 1,775,083 1,656,840 Pittsb C C & St L
Peoria (tel'^ast'ii January...
91,398 109,236 4,273,143 4,336,759 Raleigh & C Fear
Colorado iV 8outh 2d wk Mar
23,137
137,429
109,411 Reading Railway
15,810
Col >ewi» <fc Lau. January
3S,030
317,840
28,293
210,675
Coal&IrCo
Copper Raus;e.... .January .
4,203
46,303
54,091
5,934
Cornwall
Total Both Cos
January..
14,257
146,548
144,728 Rich Fr'kab &, P
17,09S
Cornwall <feL.el).. January..
149,750 125,193 1,291,195
842,194 Rio Grande Jet..
Cuuiberl'rt Valley January.
Denv.&RioGr. t Sdwk Mar 271,200 296,100 12,061,005 12,701,655 Rio Grande So...
tilo Gr. West. 5
Rooklsl'dOo
73,913
76,604
641,281
589,398 St Jos&Grl
Dct <& Mackinac. February,
32,133 1,140.001 1,085,630 St L& San Fran ft
29,618
Detroit Southern. 2dwk jMar
40,233
53,121 1,810,716 1,913,137 St L Southwest .
DulSoSh&AU.. 2dwk Mar
2,956,330 3,661,524 26,803,102 25,748,872 StLVan&TH..
Erie
January
32,895
31,896 1,308,618 1,250,758 San Fran «fcNP..
Evansv <fc XH... 3d wk Mar
20,121
4,176
3,402
23,526 Seaboard Air L..
P'rchlld&N'r'e'i! January...
47,085
6,638
5,788
45,179 Southern Ind
Farmvcfe Powhat January...
183,845
221,305
1,673,988 1,591,803 So Pacilio Co 6...
FtW&DenvCity January ..
Georf^ia RR
January .. 211,580 200,15b 1,461,970 1,383,980
Central Pacific.
140,912
142,806
1,144.668 1,063,526
GaSoutli <fe Fla.. February..
Gal Har & 8 A.
29,078
30,920
235,533
Gila ValG<S; N.. January ..
179,385
Gal Hous <te No
582,141
719,969
Trunk
Syeteui
23,727,080
23,136,354
Gr
2dwk Mar
GuIfWT&P..
96,775 115,350 3,625,317 3,314.498
GrTr. West'n. Istwk Mar
Louis'a West...
903,564
JJetGrH(fcM.. Istwk Mar
14,964
22,128
848,685
Morgan's L & T
Great Xorthern. February, 2,056,738 2,24.4.733 27,418,174 27,558,258
N
..
Montana Cent'! February.. 184,604 154,354 1,463,831 1,371,590
Oregon & Calif.
Total system. February 2,241,342 2,399,08 28,882,005 28,929,848
So Pac Coast....
Guir&ShipIslaud 2dwk Mar
33,844
32,553 1,308,752 1,188,957
So Pao RKOo..
128,228 4,215,833 4,028,058
HocliiDK Valley.. id wk Mar 125,351
SoPacS3.Liues
Hou8 ii Tex Cent January .
418,280 460,339 3,461,608 3,358,251
Tex&NOrl
W.Texas January .
69,903
81,363
519,274
555,001 Southern Railw'y
16,514
19,041
124,142
Hous & Shrevep't January
144,551 TerreH&Ind...
Illinois Central.. February. 3,735,996 ,465,285 31,419,548 29,300,131 Terre H & Peor..
liUnoiB rioutheru Februaiy,
25,573
10,148
152,074
102,001 Texas Central . .
Ind 111 & Iowa... January..
144,714 1.59,389
894,740 1,010,962 Texas & Pacific.
Ini ife Gt North'ii 3d wk Mar
82,626
86,453 4,431,949 4,133,500 TexS
W ..
tlnteroc (Mex) .
WkMar 5 117,900 105,995 3,840,280 3,488,665 Tol & Ohio Cent
Iowa Central
48,167
50,164 1,750,1»4 1,799,936 TolP&West ....
3d wk Mar
Kanawha ife JJicli 3dwk Mar
23,419 1,179,415
28,630
785,555 TolStL&W
KauCity South'n January... 563,053 538,880 3,849,364 3,606,604 Tor Ham & Butt
LakeEne&Westn February.. 346,765 356,845 3,472,005 3,189,760 Un Pac System
LehlKh Val RR.. January... 2,038,864 2,615,093 17,295,028 13,592,123 Virginia & So W'n
LexiiiK iteEast'n. January...
43,243
38,713
389,489
319,775 Wabash
Lout; Iriiaud
January ..
Dec. 2 4,810
Inc. 302 ,218
Jersey <te Sea'e
Louisiana &, Ark. January...
5»,521
50,356
371,408
293,343 Wheel &
Louisv itt Nashv. 2d wk Mar 721,475 727,780 26,505.779 24,748.591 Wm'sport&N.Br.
Macon & Blrm... December.
12,994
12,200
73,442
80,194 Wisconsin Cent..
Mau'tee&Gr.iiai January...
12,420
8,550
52,061
81,287 Wrlghtsv & T'n..
EOADS
Month
Earnings
.
.
.
.
.
240.424
52,848
187.964
13,896,754
3,953,896
3,719,300
746.181
38,801
403,586
2,123,049
5,140,119
13,115,435
30,886,841
1,350,000
32,236,841
284,330
5,492,983
7,336,274
8,069,322
120,881
21,343
51,980,614
3,915.728
1,464,183
13,160,928
5,967,490
32,575,319
359,328
124,272
3,503.784
70,944,992
Inc. 1.64
8.126,627
7,981,978
4,622,363
16,343,904
30,290
22,751,869
22,147,733
44,899,602
780,101
374,609
326,178
28,446,005
809,535
21,753,716
5,841,537
1,649,772
931,263
9,287,274
866,96y
iMte.tt
l/nte
Previous
Year
197,310
62,602
175,765
12,074.722
4,076,840
3.560,800
656,703
33,256
386,390
2,475,538
5,135,074
12,526,326
28,117,682
884,100
29,001,782
169,471
5,254,575
6.771,121
7,131,957
130,076
24.083
50,955,744
3,261,759
1,278,635
11.814,868
5,222.390
32,120.474
311.786
115,079
3,315,167
68.810.592
7,300
7,908,823
7.593,178
3,952,735
15,254,012
19,725,864
12,586,873
32,312,737
684,930
352.755
403.628
27,494,793
809,779
18,954,082
5,414,807
1,562,804
877,065
8,816,763
591,555
52,985,552
12,847,305
4,014,019
696,201
106,623
1,168,165
3,013,301
288,262
2,344,219
565,161
17,932,714
56,880,401
13,775,430
4,221,191
807,199
96,570
1,144,280
2,990,794
292,666
2,576,550
681,749
19,658,844
3,405,692
2,253,290 1,917,719
32,313,264 29,954,044
1,408,063 1,248.105
396,306
430,089
452.523
584,586
9,302,856 8,625,053
109,100
108,234
2.652,129 2,282,282
872,232
940.766
2,073,056 2,027.322
331,162
410.121
34.085,165 30,389,149
388.752
422,883
16,728,274 15,136,296
2,515,016
2,736,416
3,162,488 2,970,441
110,544
101,853
4,691,564 4,676,367
128,725
120,840
£(,517,558 5,050,358
YEAKS.
EOADS
Gross Earnings
{Mexican Railway
{Mexican Southern
Jan.
Apr.
{National RR of Mexico... Jan.
Jan.
11,132 Northern Central
Mar.
36,554,839 N orth Shore
E... Jan.
959,365 ePennsy., East of P
125,193
Jan.
eWestof
w Jan.
1,155,360 Pere Marquette
729,187 Phila Baltimore &Wash.. Jan.
Jan.
35,980 Philadelphia & Erie
9,299 Pitts Cin Chic
St Louis. Jan.
265,814 Rio Grande Junction
Dec.
8,443,937 St L Vandalia
Terre
.. Nov.
261,000 Terre Haute
ImUanap .. Nov.
Peoria
Nov.
8,704,937 Terre Haute
1,292,931 Texas & Pacific
Jan.
644,393 AVest Jersey & Seashore... Jan.
P&E
&
&
&
&
&
H
1 to Mar.
1 to Mar.
1 to Mar.
1 to Jan.
to Jan.
to Jan.
to Jan.
to Mar.
to Jan.
to Jan.
1 to Feb.
1 to Jan.
1 to Feb.
1 to Feb.
1 to Feb.
1 to Mar. 21
1 to Jan. 31
Current Tear Previous Tear
$1,051,000
999,086
2,472,634
697,336
602,331
8,473.874
Decrease.
2,077.409
956,040
449.179
3,624.928
97,918
774.942
653.850
203,886
'
2,793,642
200.710
$1,000,400
912,698
2,156,030
858.136
505.151
9,567,174
332,300
2,243,010
1,047,740
547,962
3,533,670
38.121
758.572
609,046
191.234
2,606.824
198.910
t Results on Monterey <fe Mexican Gulf are Included from March i, 1902.
trans-Missouri Imes
{Mexican ciu-renoy.
If Includes
Binoe Feb. 16, 1903, making length of road on which earniugs are now reported 7,357, against 5.876 miles previously, b luoUides the Hous. <k
lex. Cent, and its subsid, lines in both years and for both periods.
e Covers lines directly operated.
7 Includes tlio Chicago >te Eastern
Illinois in both years.
t Including Sav. Flor.
w InWest, and also Florida Southern and Sanford <ft St. Petersburg Rys. in both years.
ciuaes Lake Erie
pet. Riv. Ry. from Jan. 1 both years.
* Approximate for June.
a These figores are lor the consolidated company,
Including Tifton Thosv.
Gulf and Tllton & NortHeastern.
•
&
&
&
Mah.
THE CHEONICLE
20, 1904.]
Latest Gross Earniiigi bj Weeks.—In the table whioh
follows we sum up separately the earnings for the third
week of March,
The table covers 23 roads and shows
2*22 per cent increase In the aggregate over the same week
last year.
3d week of March.
1904
$
Ann
Arbor...
........
Buffalo Booh. & Plttsb'jt
4,205,539
4,114,003
Icwa Central
Michigan...
Minn A 8t. Iiouls
Mo. Paolflo & Iron Mt. .
Central Branch
Hashv. Chat. &, St. Liouls.
National RB. oi Mexico.
.
Pere Marquettet.........
Lonls Southwestern..
Texas
Toledo
&
Paclflc
<&
Wabash
9
42,595
139,495
43,700
840.0OO
34,077
296,100
31,896
86.453
60.164
23.419
52,909
665.000
26,000
194,468
212,246
226,831
124,999
219.086
59,695
394,486
76,278
126,511
.
Kanawna &
Increcue.
32,4S6
142.342
49,100
849.000
156,859
25,942
271,200
32,895
82,626
48,167
28,630
51,904
788,000
33,000
200,242
221,022
226,850
133,584
210,372
64,080
400.082
88.456
118,700
Canadian Northern
OanadiaD PaolCo
Ohio. Great Western
Chicago Term. Transfer.
Denver & Rio Grande
iSvans. & Terre Haute.
laternatlonal & Gt.No..
St.
1903.
Ohio Central..
..................
Wheeling <b Lak e Erie. .
Wisconsin Central
147,59.=)
9
Decrecue.
.
"2,847
9
10,109
5,400
9.000
9,264
"'8,13*5
""999
24,900
"3,8'2"7
1.997
"5',2li
"i',6o"5
'73,606
7.000
5,774
8,776
19
8,585
**8'.714
"il385
6.596
12,178
"7,8li
-
*
p. o.)
Includes Rio Grande Western.
t
158,034
91,536
Includes Lake Erie
By. in both years.
66,498
& Det
Riv.
For the second week of March our final statement covers
47 roads, and shows 0-94 per cent decrease in the aggregate
from the same week
last
2d wee* of March.
1904.
PreviouBly rtv^A {22r'dB)
Alabama Gt. uouthetn
Canadian Northern
central of Gteorgia
Chattanooga »oathem.
.
Ohlc. Indlan'llsds liOnlsT.
Oln. N. 0. & Texas Pac.
Colorado
& Southern
Detroit Southemj
Dolath So. Shore <Sc At...
Gr'nd Trunk of Canada >
Grand Trunk
West;.. >
Det. Gr. Hav. A Milw. 5
& Ship Island
LoalBville A Nashville ..
Gulf
Mineral Range...
Minn. St. P. & S. Ste. M.
Mob. Jackson A K. City IF
MobUe&Ohio
Nashv. Chat. A St. Loids.
Pere MarQuettet-.-..-—Blo Grande Southera. ..
Beaboara Air Line
Southern Railway ......
Texas Central...
......
Toledo Peoria & West'n
Total (47 roads)
Net decrease (0-94
year
1903
Inereate.
9
4,099,246
53,377
48,900
201,300
2,768
98,452
119,320
91,398
29,618
40,233
4,079,832
46,298
48.600
197,050
2,338
102,312
109.086
109,236
32,133
53.121
582,141
719,969
83,844
721,475
9,646
106,812
8,478
131,074
204.009
206,808
8.439
288,138
942,092
11,557
26.967
32,553
727,780
11,171
123,689
3,554
140,557
195,847
221,723
8,741
265,433
881,858
8,151
26,814
22,705
60,234
3,406
153
8,066.082
8,142,841
287,954
159,786
7,079
5.300
4,250
Tear.
3,860
137,828
1,291
6,305
1,525
16,877
4,919
9,483
8,162
14,920
302
p. 0.).
364,713
76,759
&
Net Earnings Monthly to Latest Dates.— The table follow
jag shows the gross and net earnings of Steam railroads
reported this week, A full detailed statement. Including all
roads from whioh monthly returns can be obtained, Is given
onoe a month in these columns, and the latest statement of
this kind will be found in the Chboniolb of Mar. 19,
1904. The next will appear In the Issue of Apr, 23, 1904.
—
—CurrentEarnings.
Previous
Gross
Year.
>
Year.
Net Earnings.
Previous
Cnrrent
Year.
Year
$
$
Boads.
$
65,628
99,267
254,550
307,552
Atl'ta A Char. A.L.aJan.
654,633
756,593
2,068,953 1,859,080
July 1 to Jan. 3i
Baltimore A Annapells
2.815
5,016
14,624
9,376
Short Line.a
Jan.
25,354
82,747
69,164
95,620
July 1 to Jan. 31
680,880
615,726
1,553,503 1,620,532
Cent.of N. Jersey.b.Feb.
July 1 to Feb. 29. ..J 14,283,077 12,016,778 6,302,298 4,662,954
144
8,566 def.2,196
8,628
Obatt'n'ga South.aFeb.
6,536
80,153 def.2,115
74,264
July 1 to Feb. 29
23,612
23,931
76,604
73,918
Detroit A Mack'c.aFeb.
175,398
210,094
589,398
641,281
July 1 to Feb. 29....
Edison Eleo. Ilium. Co. of
2,414
5,968
10,448
11,952
Brockton. Mass.. Jan.
Fall Blver Gas Works
12,380
10,482
33,717
32,437
Jan.
Co
740
12,420 def.1,637
8,560
Manistee & Gr. Rap. Jan.
81,287 def.14,336 def.7,742
52,061
July 1 to Jan. 31....
2,271
3.125
4,860
6,188
Millen A Southw.a..Feb.
10,696
14,479
33,256
38,801
July 1 to Feb. 29....
65,263
57,415
Mllwauk. Gas L. Co. Feb.
125,172
121,990
Jan. 1 to Feb. 29
65,384
49,420
392,365
406,061
Pacific Coast Co. .a Jan.
641,111
680,619
July 1 to Jan. 31.... 3,503,784 3,315,167
260,512
219,896
1,784,986 1,649,124
Pitts. C. C. & St. L.aFeb.
672,927
610,372
Jan. Ito Feb. 29.... 3,624,928 3,683,670
Pocahontas Coll i e r i e s
Company
..Feb.
Jan. 1 to Feb. 29....
Beading
Company—
23,689
61,463
924,385
2.574,171 2,794,984
July 1 to Feb. 29... 22,761,869 19,725,864 8,699.018
Phila.A Read'g.b.Feb
Year.
Year.
Year,
$
$
$
.
Vet earnings here given are before deducting taxes.
°
f Thirty per cent of gross earnings.
X Includes $378 "other income" for February this year, against
$896 last year. From July 1 to Feb. 29, other income included,
amounts to $4,331 this year, against $8,625 previous year.
Interest Charges and Snrplas^—The following roads, In
Addition to their gross and net earnings given in the foregoing, also report oharges for Interest, &o., with the surplus
Above or deficit below those charges,
.
Int.,
Kentals,
etc.
—
Current
Previous
Year.
Year.
$
$
Roads,
,
o/Xet Earn'gs.—^
Current
Previous
-Bal.
Year.
Year.
$
98.653
$
Cent, of N.Jersey. .Feb.
11517,173 11497,714
183,166
July Ito Feb. 29.... 114082,034 113630,546 2.220,264 1,022,408
Bdiaon Elec. Ilium. Co. of
Brockton, Mass.. Jan.
1,069
801
4,899
1.613
River Gas Works
Co
403
93
Jan.
10,339
11,977
Pocahontas Collieries
Company
Feb.
Jan. 1 to Feb. 29
9,404
22.658
cll4,285
d28,795
3eadlng—
All companies..
July 1 to Feb.
Sio Grande Janet
Deo. 1 to Jan.
.Feb.
888,000
29.... 7,104,000
.Jan.
31....
San Fran.&No.Pao.Feb.
to Feb. 29...,
Feb.
July 1 to Feb. 29...
July
1
Texas Central
7,708
16,416
22,688
180,667
2,588
20,665
895,721
527,574
919,563
7,165,769 4,845,322 1,732,291
7,708
5,949
5,735
16,416
13,959
11,020
22,675 def.37,054 def.18,492
181,400
29,961
77,362
2.583
5,739
10,203
20,605
149,581
93,913
IT Included in the fixed eharges in this fiscal year are expenditures,
for renewals, additions and improvements amounting to $25,368 for
February and to $452,710 tor the period from July 1 to Feb. 29.
There were no oharges to this account the previous year.
t Includes Lake Erie
IT Figures are for week ending March 12
Det. Riv. By. in both years.
t Includes Iron Ry. in both years.
.
."'•eviou<i
a Net earnings here given are after deducting taxes.
Pall
17,838
2,515
12,888
Ear ntngs.
2,977,386
374,794
622,454
July 1 to Feb. 29... .22.147,733 12,586,878 2,105,341 1,364,866
Total both Co.'s.bFeb
6,003,376 5,772,370 1,299.129 1,707.792
July 1 to Feb. 29... .44,899,602 32,312,737 10,804,359 7,980,137
Beading Oo.b
Feb.
116,446
107,482
July 1 to Feb. 29...
944,963
917.923
Total all Comp's.bFeb.
1.415,574 1,816,274
July 1 to Feb. 29...,
11,749,322 8,898,060
Bio Grande Junct.. Jan.
45,522
fl3,657
44,810
fl3,443
Deo. 1 to Jan. 31
97,918
88,121
f29,375
n6.436
San Fr. A N. Pao.a.Feb.
74,972
74,341 def. 14,471
4.183
July 1 to Feb. 29...
931,263
877,065
210,628
258,762
Sonthern Indlana.bJan.
97.190
72,129
31,567
34,249
July 1 to Jan. 31...,
769,753
620,732
849,692
264,504
Texas Central. a....Feb.
64,077
42,913
8,322
12,786
July Ito Feb. 29 -_
664,634
436,058
170,246
114,518
Virginia & So'thw.bFeb.
41.466
43,492
18,142
13,586
July 1 to Feb. 29...
422,883
388,752
134,669
164.058
Wheel. Ah, Erle.b.Feb
303,320
308,420
64,071
70,648
July 1 to Feb. 29... 2,949,943 2,746.152
815,264
650,294
Wrightsv.A Tenn.bFeb.
X15.819
Xl8,183
6,106
8,281
July Ito Feb. 29... X120.840 X 128,725
32,979
56,714
9
140,372
10,284
-Xet
Current
$
Reading Compajiy-fConehtded) —
OoalA IronCo.b.Feb. 3,429,204
Decrease,
435
—
Gross Earnings.
Current
Previous
Hoads.
to
Total (23 roada)
Net increase (2-22
1217
1,086.338
6,615.271
d Oharges inolnde sinking f and and preferred dividend.
iiTBEET BAILWAVM AND TBACTION COMPANIES.
Lateat Grott Sarningt.
Gross
EABITIirOS.
Week or Uo
Our'nt
Year.
Prei>'u»
Tear,
9
17,948 16,965
Albany A Hudson ... February
American B'ys. Co.||. February.. 93,675 81,712
20,321
Aur. Elgin A Chlo. Ry February
16,864 16,371
Binghamton St. Ry. February
Boston & Worcester.. jHuuary .. 14,115
"4,424
4,611
Bnrllngt'n(Vt.)Trao. February
Cal. Gas & Electric. January .. 276.613
34.634 32,734
February
Cent. Penn. Tract.
to Latest
Tear,
34,881
171,690
"9,415
22,679
463,120
94,212
December.
10,644
36,462
January
99,320
94,212
99,320
..
Tear.
35,975
192,619
42,457
32,628
14,115
18,047
86,981
February..
Date
Current Previo%u
9,664
276,613
70,792
37,034
514,779
. .
A Mil. Eleo.
(Jin. Dayton &Tol.Tr.
Oln. Newp- & Coving.
Light & Traction...
Citizens' By. & Light
Chicago
Jan. 1
'31,78*8
'7i',6'8"6
January
February
February
December.
Dart.&W'port8t.Ry. January ..
8,381
7,704
8,381
7,704
27,456 25,236
65,307
62,188
23,425
11,685 11,622
23,680
58,902
696,149
"7,4'7'6
"7,476
6,745
6,745
730,09s 736,194
Detroit United Ry..n 2d wk Mar 6H,017 70,308
3d wk Mar 11,010 10,772 118,587 114,861
Dulnth Street By
201,644 189,780
East. Ohio Traction.. December. 13,041 12,112
East St. Louis & Sab. February.. 87,122 64,755
67,82'5
"63,27*7
33.131
30,023
Elgin Aurora & Sou. February..
Havana Eleo. Ry. Co. WkMar.20 131,856 26,963 {364,147 {290,248
Honolulu Rapid Tr.
December. 29.881 18,862 284,819
189,314
A Land Oo
14,430
13,140
Houghton Co. St. By. .January .. 14.480 13,140
31,049
Houston Elec. St. Ry. January .. U 27.4 87 31,049 u27,437
27,333
13,810
7,108
Indlanap. <&EaBt. Ry. February
14,826
tndianap.Shelbyvllie
6,168
A Boutheaatern Tr. January .. 6,168
Intemat'l Tract. Co.
System (Buffalo)... January .. 296,970 291.490 296,970 291,490
d 111».680 d|10871,70a
Internr.St.8y8.(N.Y.) December.
iJ48.651
199,776
Jacksonville Eleo.Oo. December. 21,424 18,116
(Muscatine, Iowa)..
Cneve.& So.W.Tr.Co..
Oleve. Painsv. & E...
Dan. Urb. & Champ..
.
t
Kansas City Ry.& U. Jauuary .. 314.2ii3
Lake Shore Eleo. Ky. December. 46,415
February.. 61,937
Lake Street Elev.c
February
9,670
uehlgh Traction.
v2,S81,6es
38,962
62,230
8,799
616.484
126,005
19,687
466.061
128,060
18,473
57,719 55,280
19,077 17,052
>"'ebruary
21,493 18,836
February
9,316 10,716
5,784
February
6,850
Met. West Side Eiev.. February.. 172.656 168,831
MIL Eleo By.<kLt.<3o February 239,702 218.243
806,536
167,980
714,801
160,284
20,725
13,864
846,896
497.814
'22',8'3'7
.
Lehigh Val. Trao. Co.
Street Ry. Dep
Electric Light Dep.
Lexington Ry
LondonSt. Ry.(Oan.)
Mad. (Wis.) Traction.
December.
December.
11.948
348,626
461,682
«
......
——
,
THE CHRONICLE.
1:218
WtkorMo
liiu-Lford
Ttar.
rear.
S
•
27,678
«
67.734
352,393
I
8ft,S04
168,685141,800
Montr«>*l Htr«»«t Ry.. February
C
lioads.
9
Honoluln Bapid Transit
63,427
313,943
February
February
February
5.089
5,481
8,^oo
3,466
4.305
3,910
.l;inn»rv ..
4,021
8.758
58,8S3 64.701
tVbruary
Ketiruary
35.333 25,797
KorthwMtem Kiev.. February.. 106,130 101,383
Oi^li^nd Trauii. Oon» January .. 94.511 80,171
5.767
OhloCtmt Trac. Co.. December.
6,400 "i'.sie
Olean 8t. Railway... February
February
6,431
Traction.
6,793
Orange Go.
33.002 13.422
OrtMf. Wat. Po. A Ry. January ..
8,643
Pe«ki.L*t\-ARR.t\). January ..
8,014
Phlladelplila Co. and
Ry. IVpart..
Eldotnc IJchr l)«p.
Qa* Deparhu^ni...
Mew London rtt. Kv..
iror.OhloTT.ALt.Oo.
Northern TexaeTrac.
etr**"!
;
.
AftlUat^d Oorpor's. December. l,429.38S 1,8SS,U1
Pottev. Union Tract .January .. 12.049 12,037
Bys Co.G«n.— Roads
LlKhtCo'8
Boolie«ter Hallway
Kockford Belolt
..
February
February
17,074
2.178
95,988
17,409
1,970
February..! 109,376
r81,844
rSB.4ei
r 46,793
r90,443
r31,78»
r41,742
4,021
8,758
116,590
72,964
214,946
94.511
r76,583
13,636
11.839
23,002
8,643
113,488
56,747
207,145
80,171
10,918.701
18,778,080
12,049
34,799
4.018
222,428
12,037
86.056
4,177
197,675
10,873
11.426
13,422
8,014
16,265
14,987
8,055
476,662 1,128,356 1,004,582
t
Spanish
30,048
792
65,830
22,579
83.585
30,791
115,148
36,922
71,599
76,181
26,211
446,161
16,776
241,364
39,734
827,778
189,813
266,759
8,971
64,068
24,987
41,188
19,747
261,555
13,366
469,074
794,954
88,000
85,615
1,009,818
230,858
201,906
38,532
649,407
174,066
262,635
8,042
65.830
22,579
83,535
20,791
240,642
417,917
736,496
75,131
26,211
917,987
217,660
dl42,374
73,012
silver.
TbeM
are reflolta for propemea oimed.
c Reanlta for main line.
d Figures here are from July 1.
n These earnings include the Detroit United By., Detroit * Port
Hufon Shore Line and the Sandwich Windsor A AmherstbtLTg By.
r These llgures are from Mar. 1.
n Decrease due to boycott by colored patrons.
T These llgures are for eight months from Jane 1 to Jan. 81.
D
Street Railway Net EarniHgs.— In the following we
showooth the gross and the net earnings to latest dates of all
Stbeet railways from which we have been able to procure
monthly returns. As in the case of the steam roads, the
returns of the different roads are published by us each week
as soon as received, and once a month (on the last Saturday
of the month) we bring together all the roads reporting as is
done to-daFi
— Gross Earnings. —
,
AJb'ny&Hud.RR.aFeb.
Jan. 1 to Feb. 29
Net Earnings.
Curren*
PreviotiB
Current
Previous
Year,
Tear.
Tear,
*
$
$
17,948
35.975
16,985
34,881
2,149
8.876
.
Tear.
4,684
9,149
Aurora Elgin A Chicago By
June
Feb.
1 to Feb.
29
BiQghamton Ry.b..Feb.
Jan. 1 to Feb. 29
Oct 1 to Feb. 39....
Boston & Worcester. Jan.
Gallfonila Gas A Electric Co rp.a
Jan.
20,321
327,767
16,864
32,628
87,308
14,115
15,371
31,788
83,152
276.613
3,345
160,378
4,882
10,884
35,321
1,260
4,884
9,715
31,595
128,749
Central
Pennsylvania
TraetlonCo ......Feb.
Jan- 1 to Feb. 29
Ohlo.ife Mllw. Eleo.Feb.
Jan- 1 to Feb. 39
Cincinnati Dayton A Toledo Tr action, b... Deo.
Jan. 1 to Deo. 31
June 1 to Deo. 31
Oln.Newp. & Cov. Light
A Traction, a
Jan-
Clev.Painesv.AE.,.Feb.
Jan- 1 to Feb. 29
X Cleveland Southwest'n
Traction Co
Feb.
Jan. 1 to Feb. 29....
Columbus Buckeye L. A
Newark Elect. Ry.—
Jan. Ito Deo. 31
Danville Urbana & Champ^gn.a
Dec.
Jan. 1 to Dec. 31
Detroit United Ey.n (all
properties) .«
Feb.
Jan. Ito Feb. 29
D«luth Street Bv.b.Feb.
Jan. 1 to Feb. 29..
East. Ohio Traot.a.Dea
Jan. 1 to Deo. 31
East St. LonisASub.Feb.
Elgin Auro. ASo.b.Feb.
July 1 to Feb. 29....
34,634
70,792
18,047
87,034
32,734
71,086
10,644
22,679
def.895
def.1.958
36,931
514,779
327.964
36,452
463,120
302,667
11,616
225,573
154,571
7,463
15.638
6,924
18.862
4,827
10,292
15,075
146,716
94,212
11,522
23,680
39,421
2,777
5,493
36,275
3.640
7,827
27,456
55,307
25,285
52,183
4,957
10,261
7,776
15,110
187,966
80,050
58,902
596,149
26,489
261.139
283,034
596,018
39,747
83,435
12,112
189,780
64,756
30,028
287,154
I'rerious
Tear,
29.881
284.319
18,862
189.314
14,480
127,437
13.810
27,333
Net Kariiinffs.
II I
1 're » ious
Tear.
Tear,
>
Cur re
14,496
181.800
8.470
83,242
79,028
160,585
14,129
80,878
1,013
68,526
48,932
11.182
125,748
Hoaiton Elect. Co.. Jan.
13,140
1,608
[31,049
7.108
t6,883
878
U1.296
4,707
9,777
2,190
4,076
125.439
1,049.474
5.466
62,462
11.654
167,943
6.850
13,864
98,581
1,105.66»
6,818
82,708
97,549
1,021,934
ydef.227
1,992
18,836
6,044
12,356
3,466
189,662
57,344
6,784
2,392
11,948
8,193
239,702
497.814
218,243
461.688
104,137
222,698
102,891
216,828
87,673
67,734
168,685
937,821
25,304
83,427
141,800
848,689
10.288
22.880
87,265
319,563
8,981
18,721
32,997
312.210
Ind'p'Us A Ka^t. Ry.Feb.
Jan. 1 to Feb. 2k>
International Tract. Co.
SyntAm( Buffalo) b.Jan.
296.970
July Ito Jan. 31
2,471,738
Jaoksonv. Elec. Co.Dea
21.424
Jan. 1 to Deo. 31
248,651
Kan. City Ry.& Lt.aJan.
814,233
June 1 to Jan. 31
2,581,665
Lehigh Traction. a. Feb.
9,li70
Jan. 1 to Feb. 29
19,587
Lexington Ry. b...Feb.
21,493
Lond.8t.Ry.(Can.)aNov.
Jan. 1 to Nov. 30
Madison Traction.. Feb.
Jan- 1 to Feb, 29
Milwaukee Eleo. Ry. A
Light Co..b
Feb.
Jan. 1 to Feb. 29
Jan- 1 to Feb. 29 ...
Montreal St. Ry
Feb.
Got 1 to Feb. 29....
Mnnoie Hartford
Wayne a
A
14,826
291,490
2,215,180
18,118
199,775
6,498
5,148
64.234
1.660
2,766
Fort
11,278
22.847
4,021
..Feb.
Jan. 1 to Feb. 29
New London 8t.Ry.Jan.
3.822
8.005
3,788
815
265
56,883
116,590
85.333
72,964
94,511
8,767
76,683
6,400
18,628
8,793
11,839
76.666
64,701
113,488
26,797
88,747
80,171
22,287
46,231
10,780
24,417
33,763
11,426
70.831
22,729
45,238
12,627
24,688
42,202
1,277
36,873
2,574
5,780
def.80
def.608
19,164
23,002
8,643
109,376
222,428
891,282
13,422
8,014
95,988
197,575
778,480
10,865
2,908
40,567
82,754
410,370
5,594
2,542
46,459
93,626
381,488
Feb.
Jan. 1 to Feb. 29....
7,824
14,987
8,055
16,268
1,821
3,273
3,726
7,850
San Bernardino Valley
Traction Co . b
Jan.
San Fran. Oakland A San
9,576
4,072
30,048
15,801
North. Ohio Trao. & Light
Oca
Feb.
Jan. 1 to Feb. 29 ....
North. Tex. Tract. bFeb.
Jan. Ito Feb. 29....
Oakl'd Trana.Oon.bJan.
Ohio Cent. Tract
Dec
Mar. 1 to Deo. 31
Clean St. Ry. Co... Feb.
Jan. 1 to Feb. 29
Orange Oo. Tract. . .Feb.
Jan. Ito Feb. 29
July 1 to Feb. 29
Oregon Water Power
Ry
5,316
10,873
8,431
8,457
4,778
816
1,607
27,219
&
Jan.
Peekskill Lt.&BR.aJan.
Rochester Ry. Co.bFeb.
Jan. Ito Feb. 89
July 1 to Feb. 29...,
Rookford BeloitA Janeavllle
Jose
Ry
Jan.
Sao Paulo (Brazil) Tramway L't APow.Co.Feb.
Jan- 1 to Feb. 29....
Savannah Eleotrio.Jan.
Dec
Boranton Ry. Co
Jan. 1 to Deo. 31....
Seattle Electric Co. Jan.
Syraouse Rap. Tr.bDeo.
July 1 to Deo. 31....
Syracuse & Suburbanlb —
Got 1 to Deo. 31
Tampa Elect. Co.. .Jan.
Terre Hante Elect Jan.
Toledo Bowling Green
A South'n Tract.. Jan.
Toledo Rye. A L'ht.aFeb.
Jan. 1 to Feb. 29
Twin City Rap.Tr.bFeb.
Jan. 1 to Feb. 29
Western Oliio Ry...Jan.
July 1 to Jan- 31....
yotmgstown-SharoD Ry.
Feb.
A Lt. Co.a
Jan. Ito Feb. 29
. .
118,000
341,354
39,734
72,308
827,778
189,813
73,650
424,645
99,819
801,906
38,522
58,708
549,407
174,066
67.405
371,734
79,000
163,842
14,787
26.885
358,022
81,933
30,583
185,489
69.305
139,873
12,990
19.522
150,856
35,563
30,601
168.667
20,552
24,987
41,188
17,477
22,579
33,535
7,788
7,070
11,321
7,998
9,068
7.971
19,747
124,037
261,565
313,358
644,771
14,154
142,374
20,791
115,148
240,642
282,600
894,439
4,368
52,086
115,647
153,606
328,517
5,304
72,134
6,946
54,034
117,130
142,151
805,414
36,065
78,012
18,755
26,855
a Net earnings here given are after deduotlng taxea.
b N«tearning8hereglven are before deduotlnsr taxe*.
n These
earnings include the Detroit United Ry., Detroit
A
Huron Shore Line and the Sandwich Windsor A Amherstburs' Ry.
99,320
11,685
23,425
284,956
592,586
41,883
87,426
13,041
201,644
87,122
33,131
310,086
Deo.
Jan. 1 to Deo. 81
Milwaukee Light, Heat A
Traction Oo.b ...Feb.
9,576
I
99,819
38,522
58,708
174,066
128,348
A Land
St. Ry.
(Hancock, Mloh.).JaB-
&
February
7.824
JanearlUe
563,258
8t. Louie Transit.... February
San Bernardino Val.
Tract. Co
January..
9,576
San Fran. Oakland &
January..! 30,048
Ban Joee
Bao Paolo (Brazil)
Tram. L't A Po. Oo. February 118,000
Savannah Elect. Oo. January .. 39,734
Boranton Kallwav... December. 72,308
Seattle Electric Co... January .. 189,813
Sontb Side Elevated. February.. 180,978
Sprlnjrfl'd A Xenla Tr. WkMar.20
843
Syracase Rap.Tr.By. January .. 64.068
Tampa Kleotrio Co... January .. 24,987
Terre Haate Eleo.CJo. January .. 41,188
Tol.Bowl.Gr.A8o.1T. January .. 19,747
Toledo Rys. A Light. February 124.037
Toledo A Western.... January .. 13,366
WkMar.l9 41,504
Toronto Railway
Twin City Rap. Tran, 2dwk.Mar. 74,330
Union Trao. ol Ind.. January .. 88.000
Onion (N. Bedford).. January .. 35.616
Umltedof San Fran.. February 4821403
Waah. Alex. A Mt. V. December. 18,963
We«t. Ohio By
January .. 14,154
Youngs town-Sharon February
36.065
r re II I
Houghton County
82,847
11,378!
February..
II
Tear.
Tear.
<k
W*ynP
If uak. 'IT. A UKht. Uo
Kt.
— OrosH Earningn. —
Pr**'uti Ourrtnl
Vnr'nt
Taar.
l(lLLt.HMtATr.Oo. Fehraary
[Vol. i.YwiiL
'Jan.XtoLateitDatt
LmUtt Or<u$ Maminai.
Qbou
Munolo
.
Olev. Elyria A Western Ry.
for the year amoant to $5,166
X Figures for 1902 cover only the
y Taxes and insurance charges
Port
and
were included in expenses of February, 1904.
t Decrease in earnings for Jan.. 1904, due to boycott by oolorad
patrons.
Cnteresi unarges
and SnrpluB.— The following Stbbbs
railways, In addition to their gross and net earnings given in
the foregoing, also report oharges for interest, &c,, with the
surplus or deficit above or below those charges.
^Bal. of Net Earn'gs,^
l7it., Rentals, etc.
—
/
105,928
222,974
12,824
27,598
2.808
79,201
31,079
11,105
121,286
.
Current
Previous
Tear.
Tea?:
Curi'ent
Tear.
Previous
Tear,
Roads.
C»lltornia
tric
Gas
Corp
A
ElecJan.
Cincinnati Dayton A ToDec
ledo Traction
Jan. 1 to Deo. 31....
June Ito Dec 31....
Newp. A Gov. Light
59.650
69,099
16,332
192,324
112,512
15,962
def.4,7i6
def.877
113,859
33,249
42,059
'32,867
21,412
20,986
18,009
15,289
Oin.
A
Traction
Jan.
Mar.
THE CHRONICLE.
26, 1904.]
—Int., RenteUs,
Current
Tear.
lioads.
Ool. Buckeye L.
etc.
— ^ Bal. of Net Earn'gs.s
>
Previous
Tear.
Cxirrent
Tear.
$
A New-
ark TraotlOD—
Jan. 1 to Dec 31
Detroit United By. n (all
properties)..
Feb.
Jan. 1 to Feb. 29...,
Dulnth Street Rv. Feb.
Jan. 1 to Feb. 29
Elgin Aurora & So.Feb.
July 1 to Feb. 29
Honolulu Rapid Transit
& Land
Deo.
Jan. 1 to Deo. 31
.
HouRtaton County St. Ry.
(Hancock, Mich.) Jan.
.
Houston
Elect. Co.. Jan.
Ind'p'lis
AEast.Ry.Feb.
Jan. 1 to Feb. 29
International Tract. Co.
System
(BuflEalo)..Jan.
July 1 to Jan. 31
Jaoksonv. Elec. Co. Deo.
Jan. 1 to Deo. 31
Feb.
Lexington Ry
Lond.8t.Ry. (Can.). .Not.
Jan. 1 to Nov. 3o
—
Milwaukee Elec. Ky. ds
Feb.
Light Co
Jan. 1 to Feb. 29
Milwaukee
Trao. Co
Lt.
Heat
.
Northern Ohio Traction
Feb.
&Lli?ht Co
Jan. 1 to Feb. 2»....
North. Texas Tract Feb.
Jan. 1 to Feb. 29
Oakl'd Trans. Cons. Jan.
Olean Street By.... Feb.
Jan. 1 to Feb. 29
Rochester By. Co... Feb.
Jan. 1 to Feb. 29
July 1 to Feb. 29
Rockford Beloit & JanesFeb.
vUle
Jan. 1 to Feb. i!9
San Bernardino Valley
Jan.
Traction Co
San Fran. Oakland & San
By
89.788
177,354
16.445
32,820
9,133
73,507
81,048
162,205
15,181
30,340
9.216
72,730
4,089
41,607
2,567
28,086
10,407
90,193
2.929
6,250
2,084
4,167
def.1,672
def.321
•def.3,370
def 9,698
def.2,ai8
def.1,942
'
'
1.999
52,241
540
completed. It should be noted that at the present date we have
rolling stock alone representing at least 50 per cent more than all our
note
issue.
Tear.
8TATEHENT OF HR. BOBBRT BBN80N.
$
When the Chicago Great Western Railway reached Omaha last year
the Union Paclflo Railway declined to allow It to use the brldee over
the Missouri River. The ground the Union Paolflo took was that Its
present title Is not from the Act of Goneness, but from the foreclosure
*27.529 suit when it was reorganized in 1897. This looked rather "thin," and
*71,579 has now proved lo by the decision of the Courts. Mr. Stlckney has
fought his way into a point, Omaha, which is a great center of traflBo.
def.2,837
and the Chicago Great Western Railway is now in there, and reaches
del.2,742 the traflSc
as effectively as any of the older lines. (V. 78, p. 988.)
1,889
LETTER OF PRESIDENT A. B. STICKNET.
48,495
Construction. Etc.—No new work has been undertaken during the
calendar year jast closed, but the unfinished work which had
5,903 been authorised prior to the close of 1902 was so lan;e that during
55,156 the calendar year 1903 $2,057,109 has been expended in making
Improvements to the plant, and $1,123,713 for new equipment, todef.2,066 gether making $3,180,822, and the authorized work is not yet com6,046 pleted. The directors will limit these expenditures during the present
year as far as possible, but there is work under contract and other
Previous
106
1,444
def.91
136,703
933,148
3,170
36,500
5,611
2,385
24,546
129,195 def.41,122
903,750
172,421
2.917
2,648
46,208
5,258
433
1,850
1,081
24,044
32,798
def.3,755
77.735
146,454
68,088
139.188
*33,425
*78,567
*35,467
•79.435
146,725
2,549
1,240
3,298
80,190
&
Feb.
Jan. 1 to Feb. .29...
Montreal St. Ry . . . Feb.
Oct. 1 to Feb. 29
Jose
*269
86,250
3,080
7,154.
4.167
8.333
.Jan.
Savannah Electrician.
Dec.
Soranton Ry. Co
—
Jan. 1 to Dec. 3i
Seattle Electric Oo. Jan.
—
Syracuse Rapid Tr.Dec.
July 1 to Dec. 31
Syracuse & Suburban—
15,273
29,493
16,940
85,788
11,648 *def.4,985 'def.2,567
24,229 *def.6,943 *def.5,493
15,716
20,325
17,281
81,706
233,775
230,604
63
106
22,666
45,132
9,333
18,666
26,567
2.437
4,875
26,220
52,345
206,889
21,226
42.192
9.018
17,951
22,780
3.896
5,986
25,371
50,957
304,410
*14,722
*31,186
*207,994
2,708
5,416
2,500
5,000
def.887
def.2,143
2,679
•••^ •••>
1,393
6,912
10,563
19,786
237,480
23,188
20,246
121,705
9,583
19,842
229,786
23,448
19,025
114,151
3,194
6,021
16,635
137
905
1,061
4,039
1,762
6,466
10,983
def. 1,439
def.1,208
*21,563
*43,369
*180,993
1.226
2,850
•
8,889
4,224
8,407
def.320
7.069
120,592 def.78.980
28,745
12,120
10,337
11,576
64,516
63,784
*351
*1,829
6,369
7,625
4,942
7,093
1,970
2,128
1,792
1,429
6,542
9,529
14,470
10,496
39,564
41,690
32,746
38,108
79,022
82,902
63.761
63,908
t78,400
t89,698
Twin City Rap. Tr... Feb.
151,299
148,614
tl66,800
tl77,218
Jan. 1 to Feb. 29
- After allowing for other income received,
dividend on preferred stock.
i Fixed charges include
United Ry., Detroit & Port
n These earnings include the Detroit
Huron Shore Line and the Sandwich Windsor & Amherstburg Ry.
1 to Dec 31....
Elect. Co. Jan.
Terre Haute Elect. .JanToledo Rys. <tLt....Feb.
Jan. 1 to Feb. 29....
Oct
Tampa
ANNUAL REPORTS.
to "Annual Reports," which
omitted to-day, will be found in Chronicle of last week.
Annnal Reports.—The index
ig
1219
work 80 far under way that Its connpietlon la imperative. To pay for
the improvements and equipment in 1903. amounting, as has been
stated, to 93,180,822, the company has sold $290,000 of debenture
stock and Increased its note liabilities $2,655,673.
Earnings.— The prospects for business are encouraging. While the
earnings of the line in January and February show a decrease,
it is not due to a diminution of
the amount of traffic to be
movedi bat to the inability of the line to move the tratflo in the
unusually cold temperature which has prevailed. The results of
operation in January and February should therefore be regarded as
temporary, the losses to be recouped with the return of spring.
Proposed Coal Line.— In the last annnal letter the directors call
attention to the Importance ot obtaining an adequate fuel supply by
building a line about 70 miles long into the coal helds of Illinois. The
same conditions have again recurred the present winter. Owing to
the impossibility of getting contract coal transported by the railways
reaching the coal field, the company has again been compelled to buy
odd lots on the market during a period of scarcity, paying exorbitant
prices, which has added materially ($27,000) to the cost of transportation during the winter months. This contingency cannot be provided against by buying in the summer months and piling the coal up
as a reserve, because the quality of the coal is such that it rapidly
deteriorates when exposed to the air, and large piles in a short time
Ignite by spontaneous combustion. Besides, the expense of doublehandling would add materially to the cost. As soon as the price of
labor and material decreases, the directors will be prepared to make a
definite proposition for authority from the shareholders to secare a
permanent supply, including the building of a line for its transportation. [The stockholders of the subsidiary company, the DeKalb &
Great Western, a branch of the Chicago Great Western, it is said have
voted to extend that road to Peoria; thence it will ultimately extend
to St. Louis ]
The results for the half-years ending Dec. 31, 1903 and 1902,
compare
as follows
Six
Gross
mos.
earnings.
l»Ud.. $4,461,903
1902.. 3,957,019
-V. 78, p. 988.
Net
Ohgs.andint.
earningg.
on
deb. ttoclc.
$964,069
886,383
$1,281,081
1,172,686
Biv on
pre/.
Balance,
surplus.
A.
(2ifl)$284,3lO
$3ii,70;2
284,310
1,993
(2>«)
Capital Traction Co., Washington, D. C.
,' Report for the year ended Dec. 31, 1903. J
The results for three years past and the balance sheets of
Dec. 31 are as follows:
1903
1902
1901.
Total ear mileage (InoL trail oars)... 9,259,8*25 9,203,5*48 8,781,343
earnings
Gross
$1,413.312I$1,381,033 $1,231,683
Operating expenses—
Maintenance of way and strnotaves.
$38,675
$25,961
$25,674
58,431
61,41»
Maintenance of equipment
64,191
69,725
Conducting transportation
83,502
67,398
300,803
303,178
Oar service,
291,729
109,525
171,703
General expenses...
111,179
Total operating expenses
$681,987
$590,938
$560,171
Pt cent of expenses to earnings
(41-92)
Net earnings from operation
Income from advertising, rents,
$822,374
21,741
$749,046
21,007
$671,612
19,677
$844,115
$770,053
$691,189
$60,468
48,270
10,419
$58,153
600,000
480,000
$55,281
45,254
10,266
1,000
480,000
etc.
Total net income
Deduct —
Taxes
Interest
Tax
for special police
Real estate purchased
Dividends (4 per cent per annum)
(46'6I
(45*61)
47,fi03
10,449
$714,187 $596,105 $591,800
TotaL
Chicago Great Western Railway.
*$173,947
$129,928
Balance
$99,389
1903.
Dec.
31,
ending
J
CRepart for the half-year
* There was received in addition from sale of real estate $558,780;
substantially
the
At the meeting in London on March 2
from which paid an extra dividend of (4%) $480,000.
following statements were made or read
BALANCE 6HBBT JAM. 1.
1904.
1903.
1904.
1803.
BTATBHBNT OF HOWABD QILLIATT, ESQ., CHAIRMAH OF FIWAKOB
COMHITTEB.
Assets—
«
f
stock... ...12,000,000:12,000,000
... 1,080.000 l.Ot^O.OOO
100.000
100,000
Bills payable.... ...
89,38P
43,307
Tickets
in gross earn- Capital
GENERAL RESULTS.—The half-yea' shows an increase
Bonds
compared with the corresponding half
ings amounting to $504,883, as
responsible for no less
of 1902. Of this Increase, the freight traffic is
the ton miles
than 88»« per cent, and the statistics show that while
only 13-6
have increased 19-2 per cent, the train miles have increased
after payment
per cent The net earnings increased by $108,394, and
stook and 2»« per cent
of all fixed charges and Interest on debenture
to carry forward
dividend on the preferred stock a, we have $196,024
wthls current half-year, as against $163,322 brought In and $167,695
**"'«
greirdTffloJty wUh-whlch our directors. In common with tho.e
contend. Is the Increase
of othir raUways in the United States, have to
next is fuel. As regards
in expenses. The chief Item is labor; the
In every way
the former, very little can be done beyond endeavoring
to economize itluse and increase its effloleney. B^n^i^'.nd
von will
wni
yon
some special disadvantages as regards supply of ^oel, and
of a
remember that Mr. Stlokaey alluded to the matter in his letter
vptiLT fLuo
(V 7ti. D. 809; see also below.)
have reFiMANOES-Under the prevailing conditions, the finances
to plaoe on any
auTrerspe^al attentfon It has been impossible
stock authorized
MasonaWe basis more than a part of the debenture
approval of the flnanoe
two years ago, and the directors, with ofthe
selling Ave-year notes to
com Jittee. hive continued the policy
ai»dto provide for similar
me^rthe necessary capital expenditure
note Issue has in
Tw>tAH faiilns due this year. In ooneequence the
i5926,100 on Deo. 31
ereasVd from £398,000 on Dec. 31, 1902, tohas only been Increased
1903 whlleThe debenture stock outstanding
$29^:1^0 To show for this additional
'I'^'^'il^y
'^"J^
\o" and
057.10a^
to $2
amoantug
oapltil expenditure on the Property
^
Total
-V. 7B,
18,223,307 18.210,889
p.
UabUitie*—
Construction
7,685,239
3,970.854
Real estate
1.862,6 16
Renewal lund
121
Insurance reserve.
101,401
Profit and loss
121,8««
Cash
31.678
Kqulpment
Totel_
t
7.600,818
8,874,767
i.sua.aits
ss.aio
265.1 t^l
82,401
13.«23,807 13,210,880
69a
American Telephone & Telegraph Company.
f Report for the year ending Dec. 31, 1903. J
President Frederick P. Fish says in substance:
GENERAL Results.—The net output of instruments during 1903 was
629,197, making the total number in the hands of licensees ;i,779,6l7.
The number of exchange stations at the end of the year was 1,625,167. an Increase of 247,184. The total mileage of wire for exchange
and toll service was 3,968,891 miles, of which 677,229 miles were
added during the year.
Including the tralho over the long-distance lines, the dally average
of toll connections was about 2,'>8,000 and of exchange connections
about 9,876,000, as against corresponding figures In ly02 of 231^,700
and 9,323,000. The total dally average for 1908 reached 10,184,000,
or about 3,263,000.000 per year.
Oonstroctiow. Etc —The total amount added to construction and
real estate by all the companies constituting our system In the United
States during the year 1903 was $35,368,700, viz: For exchanges,
$24,060,900; toll lines, $8,866,000; land and buildings, $2,441,800.
The amount added in lUOO was $31,619,100;
ana in 1902, $37,336,600.
la 1901,
$31,005,400,
J
THE CHRONICLE.
J2-i0
Tho
ejipenJltur*
l>y
thU ooinp»ny
1903 for tlia oonstruorton.
lon^ rtl»ti»noe lines w»8 $t,Iouk ilUtance Hues and «qulp-
rioi'iuent »nil oouree of the Imslnean of tUe company anrlni;
In KfOHS and net
l<»>t«n nnttofaolory »nd the Increase
maiie from
WveuaeU aii»tli«tHOtory Iniltoatlon that the invpstnient
wear to \ ear to buiUl up a ei>iupr«houNlvo telephone systt^'in will ro
TUo
at»\
the ycAF have
oelre a projHT r«>liiru. No new toll llue.s are built, exohangoB eHtabU«he<J, or telei-lionen lustalled, without brluslnK lu additional revonne from the oon!«trnotion already exlHtlnir, »» well as from the new
oonotruotlon Kaeh year a lamer proportion of the community reooKn\it* the IniiHjrtanoe of the telephone In business and social life.
Impio\ ements In cables and devloes to be used In connection therewith hiive made It posclble to develop underRronnd construction to a
»>on»tantiy InoreasloK extent, and the tlsld for anderitroand work is
now believed to be capable of an nltltuate extension Deyond anything
that seemed possible a few years a^o. This results In economy of op
eratlon :tud also redaoes to a minimum the aanger of accident to the
outsUie construction.
iBDurBMnKNT CoMi'ANiBS.— In the report for 1902 reference was
made to the fact that many of the competing companies were bCKlnnlnK to realize that the rates adopted by them were too low and were
seeking to raise those rates. This movement htts continued with
added force durlutc Uie year 1903 (See page 1226.) In particular
they have learned that eharxes for maintenance and depreciation
must be taken care of before there Is any question of Interest on bonds
or dividends on stock.
Even now, not infrequently, the prospectuses of competing
companies practically Ignore those oxpenses, as they estimate the entire cost of carrying on the bosUiess as from 45 to (50 p. c. of the gross
receipts. The history of the business shows conclusively that an attempt to operate a telephone plant on any such basts Is doomed to
failure. The sum properly to be charged varies to some extent In
different parts of the country on account of climatic conditions and
the character of the plant lemployed, but the average allowance for
maintenacce of the Bell companies tor the year 1903 was over 30 per
cent of their gross revenue.
As was stated last year, the competition to which our companies
was subjected is embarrassina: chiefly to the extent to which It leads
the public to believe that service can be given at rates that are too
low to permit good service and a reasonable profit. The situation is
now more favorable than ever before in this regard. It seems
every year less probable that oompetUion will have any substantial
effect upon the prosperity of tha Bell companies.
Many Independent companies in territory which the Bell companies
did not occupy have by contract with our operating companies taken
the Bell telephones and become connected with our system on terms
favorable to both parties. There are now over 120,00u of such sublleeneee stations connected with the lines of the Bell companies, and
the movement is gaining.
Qeueraliy speaking, the business of your company and of the companies associated with it is on a sound basis ana, with good management and a proper development to meet the demand, the continued
prosperity of the Bell organization seems secured.
Westekn Union Litigation.— The suit of the Western Union Telegraph Co., which hasbeen pending since the year 1884, and which was
decided in favor of this company by Judge Lowell, sitting las Master,
and by Judge Colt in the Cireuit Court of the United States, has been
decided adversely to this company by the United States Court of Appeals for the First Circuit. The decision is to the effect that, under a
technical reading of the contract made by the predecessor of this
company with the Western Union Telegraph Co. and its associated
companies in the year 1879, this company may have to account to the
Western Union for a certain percentage of some of the stocks and
bonds which it received from its licensee companies prior to 1896,
when the oontract.explred.
That the validity of this decision is doubtful Is shown by the fact
that Judge Lowell and Judge Colt took a contrary view, and at the
proper time every effort will be made to secure a revision of the decision of the Court of Appeals. Meanwhile the matter has been referred
to a Master, who will report as to the amount, if any, which this
company should pay the Western Union Co. under the decision of the
Court of Appeals, and his report, when made, will be sabjeot to revision by the courts. Even it there should be any ultimate recovery
against us -which, as we are advised by counsel, Is by no means
certain— It is not believed that the amount recovered will be relatively
large. It certainly will not be large enough to Impose any appreciable harden upon the company. Certain classes of the slocks in question are expressly excluded from the aooountlng by the opiaion oi the
Court of Appeals, and there are many considerations which, in the
opinion or our counsel, will reduce substantially the amount, if any,
tbat may be recovered in the case of the remaining stocks.
The
statistics for the entire Bell system and the earnings,
balance sheet, etc., of the American Telephone
Telegrapk
&
Co. are as follows
STATISTICS
:
OF THE COMPAKY AND ALL
1903.
1902.
1901.
1900.
3,779.617 3,150,320 2,525,606 1,952,412
Exchanges fan. 1
1,609
1,514
1,411
1,348
Branch offlecs
2,181
1,861
1.427
1,594
Mile8Wlreonpoles&bldgs.l,358,l40 1,108,017
841,140
644.730
Miles wire underground.. 1,618.691 1,3^28,685
883,679
705,269
Miles wire submarine
6,358
6,048
4,200
4,203
Total miles exoh. wire.2,983,189
2,443.750
837,912
1,277,983
9.322.951
1,729,019
716,265
1,020,647
7,531,761
1,354,202
607.599
800,880
5,668.98ti
IKCOME ACCOONT OF PABENT COMPANY.
Earnings—
1903.
1902.
1901.
1900.
$
$
$
$
6,023,523
2,299,379
4,199,708
56,030
4,988,208
2,647,908
3,833,447
37,675
698,816
399,579
3,846,822
2,427,033
3,027,172
31,825
201,643
16,545,632 13,277,457 11,606,817
9,584,499
Dividends
7,802,834
Rental of instruments.. 3,047,038
Telephone traffic
4,888.158
Real estate
73,332
Interest
734,230
,
Total
Expeyiies—
Administration
Legal expenses
Interest and taxes
962,298
95,565
1,993.680
2,929,425
964,827
124,648
772,424
99,138
1.970.948
2,381,764
1.276,559
2,060,410
5,980,967
10,564,665
Dividends (7»« P.O.)... .x8,619,151
5,442,185
7,835,272
6,584,404
4,208,531 4,048,441
7,398,286 5,486,058
5,050,024 4,078,601
1,945.514
1,280,868
728,140
522,247
728,621
2,348^862
1,377,651
970,611
1,407,457
937.258
470,198
1.250,868
2,348,262
1,407.457
Telephone
traffic
Total
Net revenue
Su^lns
Carried to reserves
Carried to surplus
1,217,374
1.945,614
1901.
AsitiB—
9
9
9
Oonstruo'n, equip, and supplies. 26,876,806 22.496,192 19.11<>,209
«,767,190
6,^22,^06
Telephones
5,113,409
2.009,749
1,745,280
Real estate
1,666, .598
Stocks and bonds
180,678,449 114,864,799 84,839.912
Patent account
178,864
166,014
150,000
48,126
Machinery and tools
48,127
35,987
13,319,533
6,933,364
1,694,842
ash and deposits
Bills and accounts receivable... 22,397,407 15.528,621
10.972,536
American Bell Telephone Co.... 22,110,400 23,110,400 22,110,400
224,381,625 190.414,903 145,198,394
Total
LtabilUiet—
Capital stock
Capital stock Instalments
Surplus
yl54,179,300 114,946,500 104,650,600
1,972.380 11,172,472
4,710.665
3,493.290
2,764,669
28,000,000 28,000,000 15,004.500
7,942,075
6,079,262
4,047,477
*8,93l,895
8,078,169
2,760,939
18,645,210 18,645,210 15,970,210
Bonds
Reserves
Accounts payable
Contingent
Total
224,381.525 190,414,903 146,198,394
Including in 1903 $2,859,050 for dividend Jan. 15. 1904.
Of this amount $27,116,800 is not In the hands of the public,
being held by the American Bell Telephone Co., whose stock is all. or
substantially all, owned by the American Telephone & Telegraph Co.
There was therefore on Deo. 81, 1903, only $127,062,500 of stock held
by the public. This amount will be increased to $131,54^,000 on
May 6, 1904. when the last of the instalments upon the stock subscribed last year will mature.— V. 78, p. 1169, 770.
*
2/
Otis Elerator Co.
^Report for the fiscal year ended Dec. 31, lOOS.J
Stotufics— Earnings, expenses, charges, etc., have been
Net earnings, after all charges,
pairs and renewals
1902.
1901.
$908,055
$978,410
$842,096
332,670
127,006
248,379
284,829
127,006
266,878
267,538
$200,000
l.OOD.OOO
$300,000
700,000
$300,000
400,000
$1,200,000
$1,000,000
$700,000
re-
Deduct —
Preferred dividends (6 p. 0.)
Common dividends (2 p. c.)
Depreciation
Surplus
Previous surplus
Total surplus
OENBBAL BALANCE SHEET DEO.
Assets—
Plant account
1908.
2
746,259
85,134
1,376,200
1,840,848
xOnthe amount of stockheldbythepublic;$27,ll6,900of the$154,-
179,300 capital stock outstanding Dec. 31, 190a, was held In the treas
ury of the American Bell Telephone Co. [whose capital stock is substantially all owned by the American Telephone & Telegraph Co.! and
therefore receives no dividends.— Ed.
:
1908.
1903.
1902.
9
9
Habilities—
$
274.558
81.
1902.
.10,874,761 10,246,441
Cash
454,334
575,945
67,3h0
Bills receivable....
75,740
Accts. receivable.. 2,612,826 2,498,442
Inventories
1,271,458 1,149,251
CapltaK preferred) 6,599,500 5.48k»,e00
Capital (common). 6,350..'<00 6,350,800
Gold notes (4 p. c )
950,000 1,100,000
Accounts payable.
859,371
895,670
Bills
payable
—
Pref'd dividends..
Common divide'ds
Surplus
Total
14,670,169 14,544,818
-V. 78, p, 1114.
Total
83,992
127,00«
1,200,000
82,842
127,006
1,000,000
.14,670.169 14,544,818
Consolidated By. Lighting & Refrigerating Co.
^Report for the year ending Dec, SI, 190S.J
The President, Isaac L, Rice,
am happy to be able to report
says:
that the principal company controlled by you. named the Consolidated Railway Electric Lighting <&
Equipment Co., shows important Improvement in its operations over
preceding years. For the first time in its history it is able to show an
excess of income over expenditures, as follows:"
"I
BECEIFTB ABD EXPENSES.
Receipts—
Completed
sales billed
Rentals billed
Llndetrom Brake Co. dividend.
1903.
$211,7911
81,880
1902.
1901.
|
1.529
}
$197,077
$93,504
$220,135
$223,532
1
Total income
Expenses-
Cost of sales
Cost of rentals
Taxes, interest, rents, etc
$295,200)
$170,8681
87,862
47,230
(
;>
ITS LICBN8EE8.
Instruments Dec. 31
Toll wire (miles)....
976,702
No. of exchange stations 1,525,167
No. daily connections
9,876.402
IIALANOI SHEET DBG. 31.
1903.
1902.
In
aQf..r.,..vT .n.* <ni<pll(>R rtqulriMl for Its
the tuUl Investment In
f,
'
[Vol. lxxviii.
Total expenses
$275,960 j
Balance
8ur.$19,240 def.$23,058 def.$130,028
"I am glad to say that since the beginning of the year 1904 very
great progress has been made in the affairs of the same company,
the sales of equipments amottnting to $182,897."
The following is up to March 11, 1904:
Accounts receivable
$303,416 Accounts payable
Equipments now out on
Notes payable
rental and material and
supplies on hand
280,634
Cash
6,419
$139,052
22,000
$161,052
$560,469
Excess
$399,417
Exclusive of notes payable to the Con. Ry., Ltg. & Ref. Co.,
which company owns 134,000 shares ($13,400,000) out of
an issue of 160,000 shares ($16,000,000) of stock of Consolidated Railway Electric Lighting &, Equipment Co. (V.
$119,000
72. p. 578)
"It is evident from the above showing that the Equipment Company
is now in a fair way to accomplish the results which the excellence of
I am also in position to say that progress is shown
its device merits.
in the affairs of the Railway & Stationary Refrigerating Co. We
have closed our first order for thejde vice of that company, and as a
result of the showing we expect to make in its operation, we have
every reason to believe that during the course of this year this company also will be put on a commercial basis."— V. 76, p. 481.
TVesteru (Bell) Telephone & Telegraph Co.
C Report for the year ending Jan. SI, 1904,
President Frederick P. Fish says in substance
Plants.— The number of exchanges at the end of 1903 was 306; the
exchange stations numbered 132,337, an increase during the year of
21,301. In addition there were 34,957 stations of sublicensee companies, operating exchanges and lines in small towns and rural
districts. There were in operation 91,847 miles of toll wire, as com:
pared with 80,676 miles at the close of 1902.
The expenditure for new construction has been $2,546,689, of
which $910,348 was for aerial construction; $253,946 for underground
conduit and cables; $636,281 tor equipment; $652,234 for toll lines,
Mar.
THE CHRONICLE.
26, 1904.]
and $93,850 for land and bulldlnge. The money reqalred to meet this
expenditure has been advanced by this company out of the f ands paid
In for the purpose at Its organization.
Gbnebal Results— Good results are already manifest In the general
improvement of
and we believe
economy of
operation.
The results of the business during the past two years have fairly
answered the expectations which were formed when the company
was organized, and we believe even more favorable results may be
expected for the present year.
Competition.— While the competition which exists in many districts
impairs to some extent the revenue of our exchanges, it does not
retard the development of our business as a whole, nor is It likely to
seriously interfere with the prosperity of our companies. What
strength the movement has, has been gained for the most part by the
adoption of rates so low as to be distinctly unprofitable, as is recognized more clearly each year, not only by the competing companies,
but by the public. The growing disposition of tlie Independent com J>anle8, when organized, is to lease our instruments and connect their
ines with our extended system.
Michigan Telephone Co.-The properties of the Michigan Telephone Co. were sold In November last under foreclosure. The sale in
no way affects the actual assets or revenue of this company.
The W.
service,
&
T.
T.
also In greater
statement of earnings and ex-
C!o's
and the balance sheet follow
EABNINGB AND EXPENSES FOE TEAS ENDING JANDABT
penses,
Earnings—
1903-04.
$475,179
763,043
$1,238,222
$505,350
25,510
7,730
$1,304,210
$519,344
24,538
$538,590
$699,632
640,000
$630,360
$673,849
640,000
Interest
Dividends
Total
,
Interest and taxes
General expenses
Depreciation...,
Total
Net revenue
Dividends, 4 p.
0.
on preferred
x86,479
Balance, surplus.
$59,632
X Includes "$70,621 interest not coUeotlble."
BALANCE SHEET JANUART
1904,
1903,
$
Asnets—
$
Stocks bonds and
notes acquired at
organization
36,347,673 38.847,573
Property since acquired
220,373
219,910
Bills and accounts
receivable
4,583,981
Supplies
....
48.5H«
Cash and deposits. 1,31«,073
Organiza'nexpens.
Total
this
54,006
1904.
$
.
Preferred stock
Surplus
Bonds
Kes. for retir. bds,
of Krle T & T.Co,
Beserve, including
depreciation
•Bills and accounts
payable
2,330,610
48,482
3,548,157
64,00(1
$33,849
31.
lAabilities—
Common stock
1903.
$
i,ooo,ono 16,000,000
1,000,000 16,000,u00
amount, $320,000
-V, 78,p. 1171
is
93,480
Assets—
Plants
Com.
8tk.
7,779,681
449,500
unissued
649.600
128,800
128.800
800,000
270,648
867.329
22.447
19,656
Pref. stk. in treas.
Com.stk, Intreas.,
Bonds.
Accts. recivable...
Inventories
Bills receivable....
Cash
Total assets
10.116,361
7,941,000
449.500
649.500
800,000
299.778
216.813
49,924
43,728
9,960.245
1902.
$
<
Machinery and plant 365,988
Casks, vats, etc
160,024
Horses, vagons, etc.
61,058
Bottling Dlants
39,825
Bowl.Gr.Tr.Co.,truBt, 45,000
D. J. Marsh, trustee.
90,000
Treasury bonds
Treasury stock
Bonds to take up
bonds of old CO
Mdse. inventories^..
25,000
200,000
Total
V.
Ist
mortgage bonds
to retire bonds of
old CO. (see contra)
895,609
171,231
52,140
42,435
Bills
payable
Accounts payable..
Sundry creditors...
46,0fl0
Bond
90,000
24,850
180,0C0
115,400
66,658
200,000
153,261
70,767
4.885
16,500
116,000
21,199
16,7C0
102,808
42,679
interest ac-
crued
Depreciation
Reserved for debts.
180,000
147,479
Bills receivable
57,411
Loans gec'd&unsec'd 62,126
Oa»h and accts. rec. 845.631
Miscellaneous
71,627
1902,
200,000
146,043
76,907
47.675
342,28«
27,382
Total
4.096.1C5 3.966.088
4.096.105 3.966,088
9,950,«46
370,000
182.000
101,032
70, p, 534,
new subscribers, etc., as construction expense;
new boxes had been installed at the close of the year at
of reaching
11,358 of
a cost of
about $20,0C0. This work, together with the cost of wiring new
buildings, connecting new subscribers, fitting up new oifloes, etc.,
amounting In all to $34,508, has been paid out of current earnings
and the surplus, the amount of the latter being thereby reduced $11,the
$
1,000,000
.,000,000
-V.
019 61,
Miles of wire in operation Deo. 31 1903, 1,552; olfioes in operation,
instruments in circuit, 29,143; messages delivered, 5,178,852;
messages collected, 2,317,989.
,
85;
first six months of 1903 the surplus increased
in the last six months, $50,187; total, |170,929.—
have been compiled as follows
EABNINOS, EXPENSES AND CHABOB8.
etc.,
During the
$120,742;
1908,
1908.
LiahmtiesS
$
Capital stock issued. 2, 500.000 2,300,000
1st mtge. bonds
1 050,000 1,076.000
marks, secrets, etc.l ,595,576 1,600,576
R°al estate & bidgs.. 759,357 804.604
The earnings,
J
1903.
fReport for the year ended December 31, 1903, J
President Robert C. Clowry says in substance:
The revenues were affected by the distinctly unfavorable local oonditlons whloh prevailed throughout the year. The loss Is largely in
earnings from messenger service, and has as far as possible been offset
by reductions in the expense aggregating $22,025. The work of improving the plant, which was begun late last year, has been steadily
pursued, and the result is in part a reduction of 1,754, or 20 per cent,
in the number of circuit interruptions reported. These improvements
Involved a considerable expenditure, which has been kept separate
from the operating andmaintenance expenses, and listed with the cost
liabilities,. 10,116.361
payable
trade-
342,780
Total
Bills
Assets—
Good-will,
371,827
463V329
Bonds
Accounts payable.
Dividends unpaid.
Springfield (Mass.) Breweries Co.
^Report for Vie year ending Dec, 31, 1903. J
BALANCE SHEET DEC 31.
American District Telegraph Co. of New York.
Surplus
stock
annual Meeting.- The date of the annual meeting of
the stockholders has been changed from the first Tuesday In May to
the second Tuesday in February, In order to comply with the provisions of the new corporation law of the State of Massachusetts.— V. 78,
p. 818.
172,056
4,000,000
5,000,000
300,000
141,000
110.330
106,515
292,400
Common
capital.
in
108,287
1903.
LiabiUtieaPreferred stock...
t
Pf. stock unissued.
Change
164,034
Company, Chicago, 111.
Balance
Sheet
C
of Dec. 31, 1903 J
The balance sheet of Dec. 31, 1903, compares with 1902 as
below:
(
Us working
145,000
Total
42,673,594 42,548,684
for the dividend payable Feb. 2, 1904.
1902,
its bills.
The total amount of its accounts payable for current bills at the close of the year was only $75,388; it had
no floating debt and has had none since Its organization. At the close
of 1903 the cash on hand amounted to •1,153,938, against $927,982
at the close of the year previous, an Increase of $225,956. The total
cash, notes receivable and accounts receivable amounted to $2,588,8ci2, against .$2,330,881, an Increase of $237,451.
The valne of goods
and materials on hand was $2,204,675, as against $2,293,551, a slight
decrease. Including, at cost, the $400,000 bonds purchased, now free
in the treasury, the total quick assets amounted on Jan. 1, 1904, to
$5,100,099. Deducting from this the accounts payable, $75,968,
there was a net balance of quick assets of $5,024,232, as against $4,756,301 on Jan. 1, 1903. a gam of $267,930.
Since the organization of the company it has accumulated surplus
income, above all expenses (including Improvements of plant) and interest charges, of $1,405,059, out of which It has paid for the bond
sinking fund $274,425. The balance, $1,130,634, has been added to
33,849
»,83&,986
Illinoig Brick
1903,
promptly discounting
9,,855,000
42.573 694 42,548.684
*Of
to the sale of certain real estate and old machinery not needed by the
company for Its business. The company oontinaes its custom of
31.
1902 03,
$453,623
850,687
1221
78, p. 586, 50.
Net earnings
Dividends
American Writing Paper Company.
{'Report for the fiscal year ended Dec, 31, 190S,J
$19,981
78,730
def.$7,458
$349
80.503
80,154
.711
$73,045
$80,503
,5.52
1,548
86
1,537
by the executive committee, says in substance:
General Results.—The financial results for the year 1903 were as
Total surplus Deo. 31. $87,691
Miles wires
1,558
comparatively light.
^
,..,.,.
Bonds.— In pursuance of the policy referred to in the last annual
by the purposition
its
report, the company has further strengthened
chase of $200,000 of its bonds, making $400,000 bonds now in the
treasury. There have also been purchased during the year $189,000
of these bonds for the sinking fund, making $381,000 of bonds now
held in the sinking fund. The total amount of the company s bonds
now held in the sinking fund and the treasury is $781,000. The $400,000 bonds now in the treasury are earried at cost, whloh at this date
la about $40.000 above their market value, but your directors believe
that the market price will gradually Increase to a figure more nearly
representing their Intrinsic value. On the other hand. tlieoP^f »"";?«
of the sinking fund have, in elToot, reduced the bonded debt !t>c5«i,uui;
ataoosttothecompany of $274,425, a saving of $106,575.
Finances.—There has been no Increase during the year in the book
account cost of plants, real estate, good will, trade marka, etc.; on tne
contrary the account has been reduced $9,896. This decrease is due
1
85
27,940
85
29,143
Ofilces
Instruments
BALANCE SHEET DEC.
Assets—
$86,846
(2i4)86,497
(2i9)96,107
Balance, surplus.. def.$ 11,0 18
Previous surplus
98,709
follows: Net earnings. $1,224,109; deduct interest on bonds, $850,000; sinking fund for the retirement of bonds. $115,575; balance, net
surplus, $258,534. This surplus represents the result of the year's
business after deducting all operating expenses, taxes, fixed charges
and slnhlng-fund pavments. There was charged to operating expenses $316,214 for'repairs and $181,233 for alterations and improvements, referred to more apeolflcally below.
The net earnings show a decrease from last year of $381,072, This
decrease has been caused in part by an increase In the use of fuel for
auxiliary steam power, due to the unusually low water during the
last four months of the year. The water during this period was lower
than it has been for many years. Other causes for the decrease in
earnings have been the increased cost of labor and raw materials and
a decrease in sales of about $750,000, due to the curtailment of business by reason of a strike from June 8 to Aug. 20, closing down seventeen of our most productive mills In Holyoke. Furthermore, the net
earnings would have been $181,233 larger if the directors had not
thought it wise to spend this sum for enlarging and Improving a number of the plants. None of this expenditure was in the nature of repairs. The condition of the plants to-day, as compared with their
condition when taken over by this company, is vastly Improved. In
view of the present excellent condition of the plants, the expenditures during the current year for repairs and Improvements will be
190O.
9590,536
503,690
$88,649
$96,867
$65,870
1901.
$624,193
535,544
(2)76.888 (2)76,886
The usual comparative tables of earnings and balance sheet
were given in the Chronicle of Feb, 27, page 818. The report, signed
1902,
1903,
Bevenues, all sources.... $577,677 $610,043
513,176
Op. exp., oonstr'o'n, etc. 511.807
:
31,
Liabilities—
Capital stock
1902.
1903,
Plant, fran.. pat'ts,
1903.
1902.
$3,814,700 $3,844,700
jjundrv accounts
pay able
Contingent liabll-
rQ6rff 6d
stocks
compaiales, etc.. .$4,052,997 $4,018,866
Stocks & bonds of
235.700
cos. not merged. •207,540
Supplies Incl. uni34.204
21.413
forms.
46,487
Sundry accta. rec.
5S.884
748
90
Advances
7.669
22,241
Due fr'm man'gors
1.234
Due from agents
2.023
21.778
18,725
Cash In treasury..
tles
Proflt
..
.
and
86
27.943
27.905
loss
27,229
7,860
8,fi30
6,940
5C8,300
603.628
.
Total assets
$4,384,397 $4,366,200
'
Total
liabilities. .$4,384,897 $4,366,200
1,750' shares stock Holmes RIec. Protec, Co.. $176,000; 66 shares
stock Am. Ulst. Tel. Co., $5,5(0; 170-4 sharps stock Am. nist. Tel. Co. of N. J.,
*17,04(»; 10 collateral trust bonds Western Dnion Tel. Co.. $10,000; total
$207.540.- V. 78. p. 344.
•Includes
United States Telephone Co.
fReport for the year ending Dec, 31, 1903,
BABNIMOS, EXPENSES AND OHAEQES.
,
Earninos-
1909.
1903.
$381,457 $t!93,794
19,261
9,741
I.Ino rentals
MIscellan. (net)....deb.l,483 dcb.1.189
Tolls
Gross earnings. .$379,235 $802,396
Bxvtnsts—
$142,7P4 $109,931
Operating
.
MTiintcnance
6i!.6
(Jeneral
26.165
8.726
laxes
5
41,rt«7
20,58'i
7.219
Expenses and taxes. $239,278 $179,316
P.
c.
exp. to earns.
. .
(60-79)
(66-91)
Net earnings
Additional Income..
Total Income
DUtHCt—
on bonds
1903.
1002,
$13»,W.'^.7
$1*3,081
29
319
$140,276
$123,110
$98,260
3.V02
Reserve for pref.stk.
600
Kee to State
6.078
Miscellaneous
464
Reserve
$98,860
Int.
Total
Surplus
e,48S
1.187
$102,570
$99,876
$37,706
$23,236
——
Aa
: :
THE CHRONICLE
Bl^LAHOB BUBKT DBO. 81.
ikxia
»nt
\
I,
..
ui-.i.i
IW.W7
8'<,90S
4.888
1.134
1 6.972def.81, 138
....
» ....
105,000
Nl.i.73
Syo.OiX)
I"
»»»«)t»
LUiMUtUtConim."!! Block
Surplus
Total liabilities
4.dS5,048 4.04».43e
Total AMOta
i»oa.
1008.
I
f
1,000,000 8.000,000
5i>0,000
I'rofi-rrod mock
l,070,0O<i l,8ftft,000
MortBi«>!i'lu>u<l»
SlB.SOl
Carrciii Imhllltles... 187,M17
H.8«a
11,2*1
Doforrod llublllUoS.
«i.8M
11.-.
D«lerreJ
•
t
4,(»4,H87 S.Wa.Oia
-••i<lle».
V
«
..
ik>ov.
.4.II8A,048 4,0US,42e
Dlokoon. PreotJent; K. W. Moore, Vioe-Pre»il(it«tit; Jttiu«M B. Ho({«>, 9ecr«Mary; H. A. Everett, J. B. Hanna. Charles W.
Wason, B. Mahler, J. W. Marsh aud James K. Bprankle.— V. 77, p. 827.
Dlreotow— Fr«><1«>r1ok
8.
GENERAL INVESTMENT NEWS.
RAILROADS. fNCLUDINR STREET ROADS.
BlrmlD^hum (Ala.) Railway, Light & Power €o.—Finan
eial Plun.—A circular outlines substaatially as follows the
plan, which was approved by the shareholders on March 21,
for making a general mortgage to secure not exceeding
flO.OOO.OOO of 4^2 p. c. bonds
The growth of BIrnilnKham and the larroandlnK oltles served by the
oomptiDy has been far sreater than was expeot«d, as Indicated by our
»ro«» receipts, whioh for 1900 were *793,014; 1901,8931,539; 1902.
f 1,076.767; 1903, tl. 311, 851. President Jemlson estimates that the
reoelpls for 1904 will be *1.^00,000. The company mast finance Itself
In iuch a way that extensions and additions can be made as required
:
and as
this
growth materializes. Owing to this ooodltlon,
it Is
con-
templated Issulnf; a general mortgage refandlng AH p. o. bond, to
retire all of the present outstanding bonds at or before maturity, and
to provide for the future development of the property. The company
ai present has $6,000,000 bonds oiitttanding, consisting of $1,250,000
Blriulnsham Rv. & Electric do 5 p. o. bonds [due In 1924J (less retired
by glnhlng fund) »4,750,000 Birmingham Ry. Light & Power Co. con.
5 p. c. bonds [due 1951 but subject to call after July 1, 1906 at 110
;
and Interest]
The oompttny will olTer to holders of the present bonds the right to
exchange and receive $1,100 of the new 4>g p. o. bonds for each 91,000
of 6 p. 0. bonds. AooraedJlnterestfwlU be allowed on all bonds exchanged and the new bonds will bear Interest from the date of
exchange. In order to secure In exchange a large part of the present
outstanding bonds, the
company
will offer, for a limited time, a special
commission of 3^ p. o. in cash, say $35 for each old bond which Is
exchanged on the above basis. The company will have the right to
withdraw the offer of a special commission of S^s p. o. at any time.
In addition to the $6,600,000 of the new 4^2 p. o. bonds to be thus
Issued In exchange for, or for the payment of, the present 5 p. o. outBtandlng bonds, the company wUl authorize $3,400,000 bonds, to be
used for Improvements, extensions, additions, etc. All the present
outstanding bonds received in exchange will be held by the trustee as
security for the new bonds until all the present bonds have been
retired. The new bonds will be secured by a general (mortgage on the
Vol. lxxviii.
The ooinpany purposes to add largely to the namber of cars and to
lucroase the oapit«lty of Its power station, as we believe our patrons
are more interesteil in procuring quick, safe and adequate service
than In saving a fracMon of a cent per ride with lasnlllolent transportation faclllUes.— V. 78, p. 828.
Cleveland
&
Plttsbargh
RR.— New
Olas» of Stock.—The
May
19 on a proposition to increase the
capital stock from $11,261,865 to |22,000,000. The $10,788,185
now stock will be issued from time to time on account of
improvements. It will be guaranteed dividends at the rate
of 4 p. c. per annum by the Pennsylvania RR. Co. It will be
subordinate to the present $11,261,865 stock, which is guaranteed 7 p. c. per annum. President Smith says in substance:
Under tho terms of the lease to the Pennsylvania RR. Co. your company is required, at the request of the Pennsylvania RR. Co.. toissueto
that company from time »o time a security to represent the cost of
the improvements and betterments which the Pennsylvania RR. Co.
places upon your property from time to time. The general mortgage
bonds heretofore provided for that purpose are now practically exhausted, and having been issued substantially to the extent of your
present stock, further bond Issues cannot now be legally made. The
Pennsylvania is willing that the Improvements and betterments
which it will bs obliged to make upon your property shall, for the
present, be represented by a special issue of stock, upon which It Is
wllUng, In accordance with the terms of the lease, to guarantee a regular dividend of 4 p. o. per annum. The lease provides that either
stock or bonds may be Issued for the purpose referred to; but It is
clearly to your interest that, so far as practicable, stock shall be Issued
Instead of bonds, as no Hen Is thereby placed upon your property, and
your Interest as a shareholder in the property is, to that extent the
better subserved. This stock is to be so subordinate to the present
outstanding stock, such as you own, as that it will not Impair in any
way the annual guaranteed dividend fund of $786,795, from which the
dividend on your stock is paid.
The new stock will be known as " Special Guaranteed
shareholders will vote
Betterment Stock."—V.
75, p. 798.
Danbory & Harlem Traction Co.— Sfatws.— Joseph A.
Serre of Danbury and W. H, I. Howe of North Salem, N. Y.,
have been elected directors to succeed Wiliam D. Marks and
W. J. Patterson of New York, resigned. The officers are:
President, D E, Loewe of Danbury; Vice-President, Stephen
Qaick of North Salem; Secretary, J. M. Cronly of New
York; Treasurer, Philip Simon of Danbury. The following
is pronounced correct
Two years ago the company did considerable work on the line. A
power station was erected, mostof the road-bed was graded and some
of the rails were laid. Technical difBonlties arising from a transfer
B.
properties, rights
of control of the corporation resulted In a cessation of construction
work, but it is expected that operations will be resumed this spring.
The road-bed has deteriorated considerably through disuse and lack
of care. The proposed line Is about 17 miles long, between Danbury,
Conn., and Oolden's Bridge, N. Y. See Y. 77, p. 1538.
was
par value of shares, $100.
and franchises of the company.— V. 78, p. y88.
Boston Sabarban Electric Companies,— Dividend TemDelaware & Hadson Co.— Listed.—The New York Stock
porarily Reduced.— Owing to the increased expenses occa- Exchange has authorized the listing on and after April 8,
sioned by the severe winter, the quarterly dividend payable 1904, of $7,000,000 additional oapital stock from time to time,
in April on the preferred stock will be only 50 cents per when paid for in full, making the total authorized to be
share, contrasting with $1 per share (1 per cent) paid each listed $41,407,100. See V. 78, p. 1108, 984, 583.
quarter since April, 1902. It is hoped to restore the old rate
Denver & Rio drande RR.—Pro»pect» of Subaidiary Coal
if this summer's business is good.— V. 77, p. 1873.
Company.—See Utah Fuel Co. in V. 78, p. 1171.—V. 77, p.
Canadian Northern Ry.—CoM8o2idafeiI«sue,— Application 2280.
has been made to the Canadian Parliament for authority to
Detroit Flint & Saginaw (Electric) Rj.— Mortgage.—
make a consolidated issue of securities within the company's mortgage
dated Dec. 1, 1903, has been filed to the Detroit
authorized
limits
in
substitution
for
present
certain divlBional
Trust Co., as trustee, to secure $1,000,000 of 5 p. o. gold bonds
bonds, with the right to make further issues from time to
due Dec. 1, 1923, without option of earlier redemption; inttime; also for power to enter into agreements with the
erest payable June 1 and Dec. 1 at offioe of trustee; outstandNorthern Extension Railway Company for purchase or amaling, $180,000. Sinking fund, $10,000 annually fourth to
gamation, A press despatch from Montreal says:
Advices have been received here to the efleot that Mr, Wm. Macken- tenth year and $20,000 annually eleventh to twentieth year.
Stock authorized and outstanding, all of one class, $1,000,000;
zie's mission to England in quest of funds for the Canadian Northern
entirely suocessful. It is understood that he negotiated a bond
issue sufficient to ensure construction work for two years. He is now
on the Atlantic, returning to Canada.—V. 78, p. 701.
The road, now under construction, is projected to run from
Saginaw to Vassar aud Saginaw to Flint, Mich., 43 miles.
Chicago Bock Island A Pacific Rj,— Authorized.—The The bonds oan only be issued as fast as the road is constructed
shareholders approved on March 21 the proposition to make a
for the following purposes:
mortgage to secure not exceeding |168, 000,000 of new bonds,
to be issuable as stated in V. 78, p. 228, 284; also to lease for
999 years at a nominal rental (in addition to interest on
bonds) the Choctaw Oklahoma
Gulf RR. Co., whose entire
capital stock is now owned; also to purchase:
Minneapolis A 8t. Paul Terminal By.; Choctaw Oklahoma & Western
BB.; Searcy & Des Arc By. (V. 75, p. 794); and Hazen & Northern BR.
Dividend.— The directors have declared a dividend of 3 per
cent, payable April 6 for no specified period. The distributions since the transfer of substantially all the stock to the
Bailroad company in 1902, have been somewhat irregular in
time and amount, viz,. Oct., 1902, IJ^ p. c; Jan., 1908, 4J^
p. c; Aug., 1}4 P.C.; Oct., 2 p. c; Jan., 1904, 1}4 p, c, and
now 3 p. c. From 1899 to 1902, both inclusive, the annual
rate was 5 p.
V. 78, p. 988, 768.
&
c—
Cleveland (0.) Electric Bj.— Change in Price of Tickets.
—On July 4, 1903, the company voluntarily began the experiment of giving six tickets for a quarter and universal transfers to all parts of this large city, believing the result would
be a larger business with increased profits. The change was
not successful, and on March 23 the company restored the
old fare of five cents, or eleven tickets for fifty cents. It
was also decided, we are informed, to abolish a part of the
free transfers. This action is expected to increase the com-
pany's net earnings, which are already far in excess of the
Interest on its bonds.
President Horace E, Andrews is quoted as saying
The experiment has cost the company an actual loss in earnings In
eight and one-half months of approximately $200,000. On the other
hand, the cost of operating during the past few years has been gradually Increasing on account of higher wages and increased cost
of
material, supplies and equipment. It had been hoped that before
this some fair adjustment of the so-called street-railway question
would have been made between the city and the company, but as
there is at present no evidence of a disposition to make such an ad:
lostment, the company finds it necessary to restore the rate of ticket
rare established by the ordinances under which it is now operating
$430,000 to be applied to construction at not exceeding $10,000 per
mile; 8200,000 to build and equip the power station at Frankenmuth;
$100,000 for the poles, wires and other overhead work; $75,000 for
the purchase of ten passenger coaches and $50,000 to operate over
the lines of the Saginaw Valley Traction Co.; $100,000 for doable
track 10 miles.
Timothy E. Tarsney Is President; John A. Bussell, Yloe-Presldent;
Thomas u. Sullivan, Treasurer; Arthur 8. Neater, Secretary. Oeneral
ofUces. Frankenmuth. Mich.
—
Detroit United Ry. Change in Dividend Period. The
directors have declared the usual quarterly dividend of 1 per
cent on the stock, but have made it payable May 1 instead of
April 1. The company's heaviest interest payments fall due
Jan. 1 and July 1; the change in the dividend period is made
for the purpose of avoiding those dates.—V. 78, p. 384, 47.
Fort Wayne & Waba«h Valley Traction Co.— C'o/j«oKdaThis company, which was organized in May, 1908, as
the Fort Wayne LDgansport Lafayette & Lima Traction Co.,
recently amended its Articles of Association, adopting the
tion.
—
name shown in the caption, and making other changes. The
company, we are informed, will acquire the properties of the
following companies
Lafayette Street Railway Co., Fort Wayne Traction Co., Logansport
Ballway Uo., Logansport Rochester & Northern Traction Co., Wabash
Blver Traction Co. and Wabash-Logansport Traction Oo. See Y. 76,
p. 1248.
Fresno Traction Co.— Mortgage. The shareholders will
vote May 18 on a proposition to make a $5,000,000 mortgage
to provide for extensions and presumably other capital re-
—
quirements.
—V. 77, p.
1746.
Georgia Northern Ry.
—
President Resigns. President C.
has sent in his resignation, effective April 1, because of ill health. His brother J. N. Pidcock of White
House, N. J., is expected to succeed him.— V. 77, p. a280.
(Ireat Northern Rj.— Distribution of Stook.SeeJUoxther
Securities Co. below.—V. 77, p. 1878.
W. Pidcock
Mar.
THE CHRONICLE.
26, 1904.
|
Green Bay
& Western BR.— Report.—The
results for the
year ending Dec. 81 were:
CtUmdar
year.
1903
1902
Gross
Net
eamlnnt.
tamings.
Div. on
Jaxes,ete.
deb.A.ii-
Div. on
stock,
i.%.
BaUnee,
turplus.
9579,596 ¥228,4tl2 915,143 $24,000 $100,000 $34.28U
502,3Si
165,980
16,457
24,000
100,000
26,628
—V. 78, p. 102.
Hartford & Springfield
Street Railway.— Francis B.
Cooley, Hartford, Conn., offered some time ago at 105 and
interest |75,000 of this company's |476,000 of outstanding
first mortgage 5 per cent gold bonds, due without option
July 1, 1931, non-taxable in Connecticut. The limit
of the mortgage is |600,000, but bonds in addition to the
|476,000 outstanding can be issued only to the amount of 75
p. o. of the actual cost of newly acquired property,
circular says:
The cars of the oompany run from the centre of Hartford to the
centre of Sprlncfleld, through the towns of East Hartford, South
A
Windsor, East Windsor, Enfield, Longmeadow and Thompgonville,
Bervlng a population of over 163,000 people. The earnlni^s show a
steady Increase. The company is now earning about $75,000, gross,
and operating at about 60 p. c, or $45,000 per annum— leaving a net
surplus (applicable to the bonded interest charges) of $30,000. The
Interest charges are $23,800. The improvements under way are: (1)
the company Is extensively donble-tracRlng Us line; (2) new rolling
stock has been ordered; (3) the grade crossing at East Hartford, where
tk change of cars Is now necessary. Is to be abolished with the cooperatlon of the N. Y. N. H. & H.
Oo., the Hartford St. Ry. Co. and the
town of East Hartford; (4) the building of the new bridge across the
Connecticut River, from East Hartford to Hartford, has been authorized, and Is now In process of construction. When completed it will
give the Hartford & Springfield cars a "boulevard entrance" Into the
centre of Hartford. The management is made up of experienced
basiness men of the highest financial standing.— V. 76, p. 382.
RR
Illinois Southera Ry.— New Offlce.—The offices of the
President, General Manager, General Counsel, Treasurer and
Auditor are now located in the Grand Central Station,
Chicago.—V. 77, p. 451.
Indiana Northern Traction Co.—Morfgrage.— This company, which has about completed the grading for a proposed
trolley line between Wabash and Marion, has filed a mortgage to the Trenton (N. J.) Trust & Safe Deposit Co., as
trustee, to secure $500,000 of 5 p. c. 30-year bonds, denominations $1,000 and $500. Jilson J. Coleman is President, 57
Broadway, New York City.
Indianapolis & MartinsTllle Bapid Transit Co.—Bonds
Offered.— E. D. Bush & Co., Indianapolis, offered some time
since $100,000 of the $750,000 first mortgage 5 per cent 30-
1223
$400,000 six per cent non-cumulative preferred stock. When the
improvements now contracted for are finished the bond Issue of the
company will be something over $350,000, and there will be outstanding about $80,000 of preferred stock and about $280,000 of
common stock.
The new refunding mortgage Is made
to the City Bank <fe Trust Co.,
Mobile, Ala., as trustee, and is to secure not exceeding $750,000 of 5
p. c. gold bonds, denomination $1,000 and $50O each, dated March 1.
1904, and due March 1, 1944, but subject to call in whole or in part at
any time at 105 on 60 days' notice; annual sinking fand, equal to 2
p. c. of outstanding issue, will begin March 1, 1906.
A.11 but $4,000
of the first mortgage Issue of $225,009 are deposited with trustee as
collateral security for the payment of these bonds. When these four
are exchanged, the first mortgage Is to be cancled, the refunding
mortgage then becoming an absolutely first lien.— V. 78, p. 1109.
New York Central & Hudson Biver RR.— Quarterly.—
Earnings for the quarter and the nine months enalng March
81 (partly estimated in 1904) were:
3 montht
Gross
earnings,
ending
31—
Un.f
$
Net
earnings,
£
Other
income.
Interest,
taxes, etc.
ft
S
Balance,
surplus.
;8
1904 (est.). ...17,317,200 4,237,500 1.745,600 5,197,300 785.800
1903 (act). ...18,696,882 6,278.566 1,278,575 5,047,861 1,609,280
9 months —
1903-4
1902-3
59,526,600 16,765.300 4,444,100 15,490,500 5,718,900
67,602,664 18,148,958 8.983,48115,562,845 6,669.594
Dividends of 1^ per cent quarterly call for $4,959,300 in
1903-4, against |4,951,032, leaving balance, surplus, of $759,600 in 1903-4, against $1,618,562 in 1902 3.— V. 78, p. 1168, 1110.
(est.)..
(act.):
New York New Haven & Hartford BB.— (7orrec<ion as to
Debentures, The debentures given in payment for Fair
Haven & Westville RR. stock are SJ^s. not 48 ; they are
dated Feb. 1, 1904, not March 1, 1904, and they mature Feb. 1,
1954, interest period Aug. 1 and Feb. 1.— V. 78, p. 1168.
Northern Paclflc Rj.— Decision. The United States Cir-
—
—
cuit Court of Appeals at St. Paul on March 14, Judge William
C. Hook writing the opinion, affirmed the decree of the lower
court in the action brought by Peter Power, holding that the
retirement of the preferred stock was valid. The appeal was
made on the intervening petition of Camille Weidenfeld.
See V.
75, p. 733.
Distribution of Stock.— See Northern Securities Co. below.
-V.
77, p. 1875.
Northern Securities Co.— Return of 8tock,—In view of
the decision of the United States Supreme Court, handed
down last week, against the legality of the company's continuing to hold the stock of the Northern Pacific and Great
Northern Railway companies, there was issued on Tuesday
year gold bonds of 1902. A circular says:
circular signed by President J. J. Hill and Secretary Eda
The company owns and operates a high-grade electric line between
Indianapolis and Martinsville, the well-known ooanty seat and water- ward T. Nichols announcing a meeting to be held on April
ing resort. It has 30 miles of track, solid metal and concrete bridges, 21 to authorize (1) a reduction of the capital stock from
easy grades, 70-pound steel rails and first-class white oak ties. The
bridge over White River is over 500 feet long and of steam road construction. The railroad is on its private right of -way, except in
incorporated towns, where it has liberal franchises. Owns 10 interoars, an electric locomotive, two large modern freight
and express cars and a number of fiat cars. The power house at
Mooresville is fireproof, built of brick and concrete, and is equipped
urban motor
to operate 75 miles of road. No additional machinery will be necessary to operate the road to Bloomlngton when the extension is complete. The road has been operated to Martinsville since May, 1903,
and shows gross receipts for the six months from July 1 to Jan. 1 of
over $61,000; the operating expenses are about 55 per cent.
Directors.— President. Charles Finley Smith, capitalist; Vice-President and Treasurer, Henry Eitel, Vice-President Union Trust Co.;
Sec, Gavin L. Payne, Secretary of Security Trust Co.; John H. Holll-
day. President Union Trust Co AmerlonsO. Dally, President Security
Trust Co.; Harry 8. New. and E. M. Smith. -V. 76, p. 972.
;
$395,400,000 to $3,954,000 (the par value of the shares remaining as now, $100 each,) and (2) the distribution to the
shareholders of the Northern Securities Co. of substantially
all its holdings in the stock of the aforesaid companies to
represent the 99 p. c. reduction in its own stock. The shareholders will deliver their entire stock holdings to the company at its office. No. 26 Liberty St., promptly on and after
April 23, 1904, receiving certificates for the one per cent
thereof to be retained to represent certain other assets of the
company, pending the completion of its dissolution. For the
remainder of each |100 share surrendered the owner will
receive the following amounts of stock :
TO BE DISTRIBnTBD TO BEPBE8ENT 99 P. C. OF EACH $100 8HABB.
Company's
Lake Street Elerated RB., Chicago.-Assessment.— The
depositors of stock under the plan of reorganization (V. 77,
p. 1874,) are notified to make the payment of $2 per share
on the deposited stock on or before Saturday, April 2, 1904,
Savings Bank, Chicago.
at the office of the Illinois Trust
Depositors are requested to make prompt payment, as it is
expected that the new securitiee will be ready for delivery
by April 10, 1904.— V. 78, p. 989, 702.
Leiiigli Talley RR.— Dividend Prospects.— Keg&rding the
statement credited to a director that he and other members
of the board would advocate the payment of a dividend prior
to July 1 from funds now on hand. President Thomas is
&
quoted as saying
While there has been more or less Informal discussion among stockholders and probably among directors Individually as to dividends, the
matter has not come before the board in any way. The talk probably
arises from the fact that the road has been doing exceptionally well.
The earnings of the property up to March put It ahead about $3,400,000, but for the remaining four months of the fiscal year It is doubtful
if we can come within striking distance of the $2,000,000 earned above
charges in that period In 1903. It is probable that during tbe eummer
we win have to get on hand for Western consumption something like
2,000,000 tons of coal, and it will take money to carry this coal until
It is paid for and taken off our hands.
Real EMate Bonds.— See Consolidated Real Estate Co. under "Industrials!" below.— V. 78, p. 287.
Loniayilie & NasIiTille RR.— Purchase of Newport <fc Cincinnati Bridge.— See page 1168 of last week's CHBO>acLE.
Called Bonds.— The Union Trust Co. will pay at par on
Sept. 1, next, $65,000 Cecilia branch bonds of 1877, drawn for
the sinking fund.
General mortgage bonds to the amount of $345,000 have
been drawn for the sinking fund; they will be paid on June
The
1, 1904, at the office of the company. No. 120 Broadway.
numbers of the bonds are given in an advertisement on
another page.— V. 78, p. 702, 287.
Meridian (Miss.) Light & Railyraj.- Further Facts.—
Referring to the letter of Vice-President Armbrecht cited
the Chronicle of March 12 (page 1109), we are now favored
with the following
The company is applying to the Legislature of Mississippi for a
obarter amendment authorizing an increase of capital stooit rrom
$460,000 to $1,000,000, of which $600,000 Is to be common stock and
m
Northern Pacific Ry. stock ...$S9 27
30 17
Great Northern Ry. stock
Total entire
total holding.
issttc.
$163,759,400
118,124,200
$155,000,000
124,109,200
For 100 shares of Northern Securities there will be given 39-27
shares of Great Northern, which at 115, will have an exchange value of
$45 16, and 30-17 shares of Great Northern at 180, having an ex-
change value of $54 31; total exchange value about $99 47.
This distribution is on approximately the same basis as
that on which the latter two stocks were exchanged originally for Northern Securities stock. Northern Pacific being
reckoned at 115 and Great Northern, in terms of Northern
Securities stock, at 180.
The circular of March 28 says:
Since the formation of your company with a view of promoting, developing and enlarging the commerce and traffic of the country served
by the Great Northern and Northern Pacific railway companies and
by the Chicago Burlington A Qulncy RR. Co., the traffic and earnings
of the three railways have largely Increased. Rates paid by the public have been materially reduced. The respective railways have been
extended and their condition and facilities Improved and increased.
The stock of the Northern Securities Co. was issued solely for the
shares of the Northern Paclflc and Great Northern Railway companies and other properties purchased by it.
In forming the company and disposing of Its shares no commissions
were paid, nor has the company incurred any expenses save those
necessary for obtaining its charter and for the economical conduct of
its affairs
The company's acquisition of Northern Pacific and Great Northern
shares was made In tbe full belief that such purchases were In no wise
obnoxiotis to any law of the United States— an opinion which has received the approval of four justices of the Supreme Court of the
United States— namely, Mr. Chief Justice Fuller and Associate- Justices
Edward D. White, Kufas W. Peckham and Oliver Wendell Holmes— In
the suit brought by the United States against the right of the comHowever, the majority of the
tlie shares.
Sany to hold and vote
ourt, dlsregardlBg as Irrelevant any beneficial Increase of commerce,
wasof the opinion that as a matter of law your company's holding of
the stocks of the two railway companies In ItselT constituted a restraint of Interstate commerce prohibited by the so called Sherman
Act of 1890. Accordingly the railway companies have been forbidden
to permit your company to vote or to collect dividends on the shares
held by It.
Therefore, your directors at a meeting held this day, have, under
advice of conniel. decided that In order to fully and promptly comply
with the decree in this suit, It is necessary to reduce the capital stock
of the company,' and to distribute to Its shareholders the shares of
stock of said railway companies now held by It.
To this end they have adopted resolutions recommending to the
stockholders:
— —
:
:
THE CHRONICLE
1224
[Vol. lxxviii.
Pint— That theoAplt*! etookjof this ooiup»ny De rMnoed from 3,
9M,000 tharrs. now oautABdlDK. tw 30,&40 BU»rea, beluK a rednotlon
STATBMBNT OF TBI IRSDANOB UF DNIFYINO AMD BBPUMDIMO MOBTOAUB 4 I'KB CUNT OULD UONUS.
of 99 ppr
General corporate purposes...
$1,000,000
AoqniHitlou of $3,9^2.000 of company's gold f nndlng notes 3,952,000
Ac*ialaltlon of !R3,4I2.000 first mortgage bonds of Kansas
A Arkansas VtUlev Ky
8,412,000
Acqalsliion of $254,000 funded coupon notes of Little
2^0.000
Rock & Fort Smith Ry
Exchange for $28,668,000 Tex. & Pacific Ry. 2d mtg. bonds 15.883,000
Betterments aud luiprovemiMits
636,000
Acquisition of $399,300 (all) capital stock and SiOO.OOO
(all) ttrstmort. bonds of Mississippi Hamburg & West. Ry.
466,000
Acquisition of $1,499,100 (all) capital stock of New Orleans & Northwestern Ry
1,385,000
Acquisition of $395,100 capital stock and $3&)6,0no (all)
first mortgage bonds of Arkansas Southwestern Ry
406,000
Construction of 12'21 miles of additional road by Mississippi Hamburg <fe Western Ry (V. 78, p. 704)
146,000
Construction of 35 09 miles of extension by Eldorado &
Bastrop Ry. (V. 78, p. 704)
421,000
o«'iit.
.,
t
..
of the present ontstandmg shares bo
oalloU lu for «arrt>niler i»nil OHnoellatlon.
Third— Thut HiciUuBt «>»ohHh»re of the etook of thle company so to bo
•nrremlervil there will be dellvereil Ji3» 27 stoik of the Northern Paciflo Ky. Co.. $ ;0 17 Block of the Greiit Northern Ky. Co., and proporUoDat<< anioiiinw theret>f for eiK<h fraction of a share of stock of this
Heoond-Thikt KftH 99
ooiupauy
A*
i»o
ix»r o><nt
to bo surrendered.
r<«iiulr»>J
by the lawH of the State of
New
Jersey, under which
of the shareholders of
directors for Thursday.
April Jl. lUO-i, at 11 o'clock In the forenoon, at the olllce of thecompar.v, .So. 51 Newark 8t . Hoboken, N. J.,to vote upon said resolu-
com paii> wa* created, a eiieolttl meeting;
this company has been called by the board of
the
upon saoh other bUHluess as maybe brought before said
Forthe purpoce of this meeting the stock transfer books
v.i ^.^ olosed on April 18. 1904. at 3 o'clock p. m.
Holders of this company's stock to a large extent have already exprssMd their approval of the recommendations of the board, but the
laws of New Jemey require a two-thirds vote of the shareholders to
permit the company to reduce Its capital stock. Sach vote Is the first
step n«ce«sary for the proposed distribution of the railway companies'
shares. The collection of the May and subsequent dividends ou such
•hares belnj: forbidden by the decree until such dlstrlbatlon has been
made, the Imporiance of promptly ereonting and forwarding proxies
i;id
U obTloas.
The assets of the company remaining In Ite treasury after the foregoing distribution is made will consist of stocks and other property
In no way Involved in the suit, producing income, and conservatively
valaed at an amonnt in excess of the S3.9.^4,000, to which It is proposed to reduce the stock of your company.
Notice of the due approval by the special meeting of the reoommendatlons of the board of directors will be immediately pablisbed,
whereupon stockholders should deliver their entire holdings of stock
at this ottioe promptly on and after April 23, 1904. Against such delivery, oertlUcates for the I per cent thereof to be retained by stockholders will be returned to them, together with the amonnt of stock
of each of said railway companies to which they may become entitled as above on account of the 99 per cent of their holdings of
Northern Securities stock surrendered for cancellation. Fractional
parrs of shares will be adjusted by the delivery of scrip certiflcates.
All stock surrendered must be fully executed for transfer either
npon the certificates or upon an attached power of transfer.
Total
amount
of
— V. 78, p. 704, 229.
bonds outstanding
$27,457,000
San Die^o & Eastern B.^.— Mortgage.— K mortgage has
&
filed to the Los Angeles Title Insurance
Trust Co., as
trustee, to secure |10,000,000 of 5 percent bonds of $1,000
each, dated March 1, 1904, and due March 1, 1949, without
option of earlier redemption; interest payable semi-annually
March 1 and Sept. 1 in Los Angeles and
York. The
company was Incorporated in January last with $10,000,000
of authorized [common] stock (|222,800 subscribed) to build a
railroad from San Diego to Yuma. Cal., 222 miles. Par of
shares, $100. The directors (and officers) are
Chairman, O. W. French of Ohio; President, A. A. Pnrman; VicePresident. George W. Marston; Treasurer. G. V^. Fishburn; General
Counsel, L. L. Boone; John E. Boal. H. P. Wood, F. 8. Jennings and
Homer H. Peters. V. A. Dehnel is Secretary.
been
New
Surveys began several weeks ago and the San Diego &
Imperial Construction Co. hsks been organized with nominal
($10,000) capital stock to undertake the construction, Messrs.
French and Purman, the Ohio railroad promoters, being
among the incorporators. Mr. Peters is a Chicago man who
is building a large hotel at Sau Diego, and Mr, Fishburn is
Cashier and a director of the First National Bank of the lastnamed city. The Bay Shore Terminal Ry. was merged in
the San Diego & Eastern. Office, San Diego, Cal.
Soathern Pacific Co. New General Manager,—
H.
The Union Pacific Ry. Co.. through its subsidiary, the
Oregon Short Line, holds $82,491,000 of Northern Securities
stock. For this it would receive $32,394,000 of Northern Pacific
stock and $24,887,000 of Great Northern stock, which would
naturally be substituted (or the Northern Securities stock
held as collateral under the Oregon Short Lice bonds.
The Union Pacific Co. turned in to the Northern Securities
Co. on its formation $78,108,000 of Northern Pacific stock.
Further Facta.— The "New York Times" furnishes also Markham, it is announced, will be made General Manager,
succeeding Julius Kruttsohnitt, who becomes Executive
the following from an authoritative source:
Operating Official of all the Harriman lines.—V. 78, p. 769,
C
There has been no understanding or suggestion about common
and no " gentlemen's agreement." There is nothing not
shown on the face of our announcement to the public. The decree has
been followed in Its letter and spirit.
The retention of 1 per cent is only to keep the company alive until
the distribution is completed and its billslpaid, <feo., when it will be
promptly dissolved. The stocks go to their owners, the holders of the
Northern Securities shares, and the roads will be managed by their
respective boards of directors, elected by the stockholders.
The Burlington stock is owned severally, not jointly, by the Great
Northern and the Northern Pacific railways, each company owning
[subject to the collateral trust bonds.— Ed.] half of the entire amount
purchased, and benefiting to the extent of one-half the profits. It In
no way enters Into the adjustment.
The Union Pacific has been treated exactly on the same basis as the
owner of 100 shares. Naturally they will have representation, but
there has been no demand and no suggestions of It. None of the original Great Northern or Northern Pacific people has any Interest in the
Union Paclflo or any purpose of acqtilrlng an Interest.
directors
698.
—
—
Soatlierii Railway. Short-Term Funding Bonds. President Spencer on Thursday made the following announcement;
The company Is arranging to fund into fi 7e-ye»r bonds the $4,000,000 collateral trust bonds of Dec. 1,1901, and the certificates of Indebtedness issued from time to time since 1897 solely for the purchase of
railway properties, as fully shown in the annual reports. The oertlfi
cates and collateral trust bonds aggregate In amonnt about [$14,500,000. The funding of these obligations does not Increase our fixed
charges, but really diminishes them.
The properties acquired cost
considerably more than the amount of the obligations and are earning interest on more than they cost. The company is not seeking additional money and does not need it.— Y. 78, p. 1106, 229.
Syraenae (N. T.) Rapid Transit Co.— See Utlca & Mohawk
Valley Ry. below. -V. 77, p. 402.
Tennessee Central UR.— Further Suits—Ftoating Debt.—
Mr. Hill has made the following statement:
J. Oliver and W. J. Oliver & Co. on March 18 filed suits
We have complied with the Court's decree promptly, just as I said W.
we would do. A pro rata dlstrlbatlon was the only practical way of at Clarksville, Tenn., for sums aggregating $189,668, claimed
The Nashville "Bancarrying out the Court's directions. A re-dlstribution of the Great to be due on account of construction.
Northern and Northern Paclflo stock originally deposited would have ner" quotes Judge John A. Pitts, one of the Vice-Presidtiuts
been out of the question.
One might as well go to a bank and dea return of the same money that one had deposited there. So
far as the talk of competitive buying of Northern Securities stock Is
concerned, or my buying Union Pacific, It Is all bosh. I don't own a
share of Union Pacific. Perfect harmony has existed between Mr.
Earrlman and myself since the decision of the Supreme Coiurt.
mand
The counsel
of the Harriman (Union Pacific) interests are
considering the propriety of endorsing the plan, but it is
emphatically denied that the latter have made any demands
or that they desire the return of all their Northern Pacific
stock, their desire being merely to see that all legal requirements are observed.
Full Text.—1\iQ Chicago "Railway Age" of March 18 includes a supplement containing the full text of the Supreme
Court decision.—V. 78, p. 1168.
still
Pablic Service Corporation.— See American Lighting Co.
under "Industrials" boiow.-V. 78, p. 1168, 769.
St. Louis Iron Mountain & Soatliern Ry.— Purpose of
Bond /«sue«.— The company reports as follows to the New
York Stock Exchange
IBSUANCB OF GENERAL CONSOLIDATED RAILWAY AND LAND OBANT 5
PER CENT MaBTQAGB BONDS.
Improvem'ts flo atlng debt and general corporate purposes $1,7 10,000
Exchange for first and second income bonds and scrip of
St. Louis & Iron Mountain BE. Co
8,214,000
Exchange for first mortgage bonds of Cairo <b Fulton BR.
.
Co. canceled
Exchange for first
8,108,000
and second mortgage bonds of St. Louis
& Iron Mountain RR.. matured
10,000 000
Exchange for Cairo Arkansas & Texas bonds, matured
1,450,000
Exchange for Arkansas Branch bonds, matured
2 SOO 000
Acquisition of 854-32 miles of railroad at $15,000 per mile,
less 176 bonds heretofore Issued on Ark. Midland branch 12,638,000
Total bonds issued
$44,620,000
Deduct canceled for sinking fund ($829,000) and held for
scrip (f3,000)
To tal amount
832,000
of
bonds outstanding
x$43,788,000
X Of this •mount, $6,946,000 have been stamped "guaranteed."
for the railroad, as saying that if it had
for the receivership proeeedings, arrangements
would have been completed within ten days for liquidating
the floating debt, which, he says, amounts to about $1,000,000,
and not $2,000,000, as alleged in the receivership suit. Ha
also says:
The company has not been able to meet its obligations promptly
because of the excess of the cost of constructing the road over the estimated cost. On every mile of road constructed by the company It
However, the actual cost of
Is authorized to issue $25,000 of bonds.
constructing the line between Nashville and HopklnsvUle has been
nearer S40,u00 than $25,000, and the belt line around the city from
Staley Screet to the Cumberland River has cost $60,000 per mile.
There has been expended for rights-of-way for this section of the road
$300,000.
Also, on the reported authority of Judge Pitts, it is stated
that the road is not for sale; that its present owners hope
shortly to end the receivership, satisfying the creditors;
also that they intend to make a new mortgage and to retire
the outstanding bonds. Under order of Judge H. Qe. Kyle of
Rogersville, Tenn., $75,000 receiver's certificates have been
issued to provide for the payment of overdue wages, etc.—
and chief counsel
not been
V.
78, p. 1168.
Union Pacific RB. Distr Ihution.—^Qe Northern Secarities Co. above.— V. 78, p. 104.
Utica & Mohawt Valley (Electric) Rj.— Negotiations.—
"Cleveland Finance" says in substance
Horase Andrews, President of the Utlca & Mohawk Valley and the
:
Cleveland Electric railways, Is still negotiating for the Syracuse
Rapid Transit Co.. the control of which Is held by the estate of R. &..
McClymonds. The only question hinges upon price and the ability of
Mr. Andrews to finance the deal at the present time. There seems to
be good reason to believe that he will secure the property within the
next month or two, and will consolidate It with the Utlca & Mohawk
Valley.— V. 76, p. 1086.
Wabash RR.—The
shareholders on March 22 voted:
in the capital stock, to comply with
the law of Missouri, which provides that the bonded debt shall not exceed the capital stock. 2. An Isi^sue of $lo,OOD,000 of 50-year 4 p. c.
terminal bjnds. (This is the Issue announced a year ago, see Y. 78,
1.
An Increase of $50,000,000
p. 288; V. 77, p.
1305; V. 76,
p.
753).— V. 78,
p.
1110, 704.
Mar.
THE CHEONICLE.
26, 1904.]
1225
West End Street Railway, Boston.— Bonds Sold.— The per
$100 share, to fund floating debt and for new additions to
This will increase the outstanding stock to $194,000.
Dividends for year 1902-3, 10 p. c; bonds outstanding June
$150,000 refundina; 4 per cent bonds maturing Aug. 1, 1915,
have been awarded to Georece A. Fernald
Co. See V. 78, p.
plant.
989.
30, 1903, $11,800.
&
—
INDUSTRIAL. BAS AND MISCELLANEOUS.
Alpena (Mich.) Portland Cement Co.— Bonds.— Secretary
John Monaghan writes as follows:
We are Installing new machinery to make cement by the dry process
and to increase the capacity
of the mill to 1,200 barrels per day. The
to sell about $100,000 of 6 p. o. gold bonds, to run 10
years, as soon as money Is required, which will probably he between
company Intends
now and May
1.
Herman Besser
is
President and W. H. Johnson
Treasurer.
American Graphophone Co.— Oversubscribed,—The
|500.-
000 of coupon notes offered to stockholders in the circular letter of March 4 has, we are informed, been substantially oversubscribed and the issue of the notes ordered. See last week's
Chronicle,
p. 1168, 226.
Brazos (Tex.) Canal Co.— Receivership. At Houston,
Tex., on Feb. 27, Judge Norman Q. Kittrell appointed General J. R. Waties receiver for the property upon application
by A. L. Towles, J. C. Hopper and others as creditors. The
company was incorporated in Texas in Jan., 1902, with $300,000 authorized stock, by J. S. Dougherty of Houston, Burton
D. Hurd of Kansas City and Vernon O. Ford of Beaumont.
The "Houston Post" says :
The assets consist of a canal abont 25 miles In length, with its
pumping outfits and everything complete to irrigate about 5,000 acres
of [rice] land. The canal runs from the Brazos River to Clodine Station on the San Antonio &. Aransas Pass Railway. Assets, aboat
$150,000; liabilities, about $140,000, including a bond issue of $80,000
owned by Northern capitalists.
(J. 6.) Brill
Car Co. of Philadelphia.— PMrcTiasc-Con-
American Lighting Co., Baltimore—Jer«ey City Injunc- trol of the Gc. C. Kuhlman Car Co. of Cleveland having been
tion. This company, owning no gas mains, recently under- purchased for a sum rumored as about $300,000 (the amount
bid the Public Service Corporation for the street-lighting of the capital stock), Samuel N. Curwen of Philadelphia was
contract in Jersey City, In order to put in use a patent recently elected President of the reorganized company to
burner. Vice-Chancellor Pitney, at Jersey City, on March succeed Fayette Brown of Cleveland.— V. 75, p. 1088.
21 enjoined the company from using'the gas of the Public
Buffalo (N. f.) Pitts Steam Boiler Works. —Jncreoae of
—
Service Corporation without the latter's consent.
American Malting Co. Decision in Suit Against PromotThe Appellate Division of the Supreme Court for the
ers.
First Department on March 18 reversed the decision of Justice O'Qorman which overruled the demurrer of the defendants in the action brought by Archibald A. Hatchinson and
other stockholders on behalf of the company against the
Schley of this city. The
members of the old firm of Moore
action was brought to recover for the Malting Co. the value
of $503,000 preferred and $7,740,000 common stock of the
Malting Co., representing alleged "secret profit at the expense of the defendant company, its stockholders and creditors," in the course of the underwriting of the company's
securities at the time of its organization. The following is
pronounced substantially correct:
—
&
The complaint alleges that Moore & Schley, before the incorporation of the Malting Go., nrooored options on about 25 malting plants
In the name of Gasper H. Eicks, one of their employees. Then the
public was invited to subscribe for stock and Eioks agreed to convey
the malting plants to the company and fnrnleh a working capital of
$2,070,000, the Malting Go. agreeing to issue therefor to his order,
$12,500,000 in preferred and $13,740,000 in common stock. Meanwhile Moore & Schley raised $9,000,000 by selling stock, and the
working capital was paid to the corporation out of this earn. There
remained in the hands of the Guaranty Trust Go. the 5,000 preferred
and 77,400 common shares. This stock, it is claimed, should have
been delivered to the Malting Go., instead of to Moore & Sohley.
Justices Van Brunt, Ingraham and Patterson each wrote
an opinion in support of their position sustaining the demurrer. Justice Hatch delivered a long dissenting opinion,
concurred in by Justice Laughlin. An appeal will be taken
to the Court of Appeals. The majority opinions, in effect,
hold that Moore & Schley were not bound to disclose the
situation to the signers of the stock subscription blank, and
that the company received full value for the stock issued
all the defendants contracted to deliver.
V. 78, p. 770.
—
and
American Pipe Manufacturing Co.— New Stock,—The
at Philadelphia on Tuesday authorized the
increase of the capital stock from $3,000,000 to $5,000,000,
only $2,000,000 to be issued at this time.—V. 76, p. 807.
shareholders
American Pneamatic Service Co.— See Universal Pneumatic Transmission Co. below.— V. 78, p. 289, 104.
Armour & Co., F&cking.— Purchase. "Chicago Econo-
—
mist" says:
J. Ogden Armour has completed the purchase from Thomas J. Lipton Go. of what is known as the Llpton plant at the Union Stock
Yards for $250,000. The property comprises a tract of 301x397 feet
on Packers Avenue, between 43d and 44th streets, and the pork
packing plant. The prouerty is almost surrounded by the plant of
the Armour Company.— V. 76, p. 1255.
Astoria Steel
Colby M. Chester
Co., Astoria, Long
Jr., 43 Cedar St., this
Isl&ni.—Receiver.—
city, has been ap-
pointed receiver tor this company by the IJnited States Circuit Court on the application of Charles A. Moore, of ManMoore.
ning, Maxwell
The "Brooklyn Eagle" says:
The company was incorporated on May 19, 1903, under New Jersey
&
,
laws, with a capital stock of $300,000, to take over the business of the
New York Steel & Wire Go. The estimated value of the plant is
$450,000, while the tools and machinery are valued at $35,000 additional. There is a1 mortgage for $150,000 hell by Julia L. Ellis.
The company has also Issued $360,000 of 6 per cent gold debenture
bonds which remain unpaid. Its other debts are estimated to amount
to $83,897; $61,051 iB for unpaid notes. The current assets amount
to $12,477.
Compare V. 72, p. 630, 678; V. 76, p, 438; V. 77, p. 252.
Bell Telephone Co. of Missouri.-iVet« Stock.— The shareholders will vote May 17 on increasing the capital stock from
$4,000,000 to $10,000,000 as required from time to time for
extensions and additions. —V. 76, p. 481.
Bell Telephone Co. of Philadelphia.— £^arningr«.—The
earnings, etc., for the calendar years 1903 and 1902 compare
as below
Tear.
Gross.
1903. ...$2,857,794
1902.... 2,320,076
—V. 77, p. 1635.
Net.
Dividends.
$930,240
648,769
$852,367
658,459
Bal.,8ur. Stations Deeji.
$77,873
def. 9,690
**^>***
40,892
Electric Co.— New Stock.— The
Electric-Light Commission recently
Massachusetts Gas
authorized the company to issue $52,000 new stock at $140
Beverly (Mass.) Ga3
&
&
company, incorporated under the laws of New
York State on Apr. 3, 1902, with $135,000 capital stock, since
-Stoc/c.— This
increased to $350,000, has again increased its stock, this time
to $850,000, of which $500,000 is (?) per cent preferred, par of
shares $100.
The company manufactures double-engine
steam road rollers, asphalt rollers, etc. Directors: Carleton
Sprague, Charles M. Qreiner and Henry S. Cunningham (Secretary), all of Buffalo.
The corporate name is Buffalo Steam
Roller Co,
Central
Sc
South American Telegraph Co.— Report.—The
results for the year
Year—
Gross.
ending Dec. 31 were:
Net.
Renewals.
Div.fip.c.
Bal., sur.
1903
$1,072,134
$666,838
$62,710
$463,536
$140,591
1902
1,002,571
614,641
94,192
463,536
56,812
Total surplus on Dae. 31, 1903, $820,912.—V. 76, p, 1028.
Clairton Steel Co.—Extension of Note. The receivers
have been authorized to renew a note for $450,000, made
Nov. 18, 1908, for four months, and held by the City Trust
Co. of Boston; also, to give as security 19,950 shares of the
stock of the Champion Iron Co.—V. 78, p. 105.
—
Cochran Coal & Coke Co. of Morgautown, W.\&.— Stock,
Etc. The company has filed amended articles of incorporation increasing its authorized limit of capital stock from
$500,000 to $1,600,000, and its limit of land holdings from
10,000 to 15,000 acres. The company now owns 13,000 acres,
situated in Cass and Grant districts in Monongalia County,
West Virginia. The stock is all common, par of shares,
$100; outstanding, $1,800,000. President, M. M. Cochran,
and Secretary and Treasurer, J. H. Wurtz; office of both,
Dawson, Pa. An authoritative statement says:
The Cochran Goal & Goke Co. [incorporated in May, 1902,] is a close
corporation, composed of members of the Coohran estate, owning the
famous Washington Run Goal Mines under the name of Washington
Goal & Coke Co.. whose office is at Dawson, Pa. (V. 78, p. 51.) The
First National Bank of Dawson Is also conducted by them.
—
Consolidated Real EstateCo.- Iforioagre.—This company,
a subsidiary company of the Lehigh Valley Railroad Co.,
has made a mortgage on real estate and improved property
at Sayre, Pottsville, Easton and elsewhere in Pennsylvania,
to secure an issue of $1,800,000 bonds. The United States
Mortgage & Trust Co. of New York is the mortgage trustee.
The bonds are 50-year 5 per cents, maturing in 1954, interest
payable February and August, and are endorsed by the railroad company's agreement to pay rental under a lease sufficient to meet the interest; also to pay the principal at maturity should lessor fail to do so.
There is, of course, no connection between this company
and the Consolidated Real Estate Co. of Pittsburgh, which
was incorporated in Dec, 1902, with $^00,000 stock (in $50
"full-paid" shares), in January, 1908, increased to $600,000,
and in January, 1904, reduced to $200,000.
Corn Products Co.— Neio Directors.— Thom&s B. Wagner
and William Weaver Heaton have been elected directors for
three years to succeed J. Ogden Armour and F. T. Butler.
C. L, Glass has been elected Vice-President to take the place
of Mr. Butler, who recently resigned.- V. 78, p. 1170, 1112.
Dayton (0.) Breweries Co.— Listed in Cleveland.—The
Cleveland Stock Exchange has listed the outstanding $1,071,625 of preferred stock and a like amount of common.—
Compare V. 78, p. 1112.
Delaware Securities Co.— Purchase.— TMb company's $4,000,000 of 5 p. c. collateral trust bonds due July, 1922, were
issued, we are Informed, in payment for the $1,000,000 stock
of the Liflin & Rand Powder Co. of Wilmington, Del. Compare V. 78, p. 1167.
(E. I.) du Pont de Nemours Powder Co.— FMrc/icwe.-See
Delaware Securities Co. above.— V. 78, p. 1112, 770.
Eastern Steel Co.— iVei/> Preaidenf.— Veryl Preston, formerly Vice-President of the United States Steel Corporation,
has been elected President of this
company.— V.
77, p. 2100.
Telephone Vo.— Effort to Pool Bonds.- Most
of the holders of the bonds of the United States Telephone Company have agreed to pool them tor eighteen
months with a committee composed of Calvary Morris, H. R.
Newcomb and F. S. Dickson, with power to sell at 85 and
Federal
—
:
:
—
,
THE CHRONICLE.
1220
Interest.
The carrying ont of the plan awaits the obtaining
It is thought a
of the assents of the few remaining holders.
parcbaser can be found more readily for the entire ispue than
for any part thereof. The f 1,970, 000 bonds outstanding are
held as foliowt":
Owned by K«Kl<«r»l Telephone Co., about
f 400.000
800,000
Owned by Everett-Mi>ore 8yiullo»tt>
66S,000
Owned by outelders
105.000
In the United States Telephone treasury
[Vol.
Lxxvm.
By agreement the common stockholders are to get 5 cents on
thedollar. The niortK'ftgeon the building, which the Mercantile Trust*
Deposit Co. of Haltliiiore holds as trustee, will be paid otr. We understand that the purclianer of the l)iilldliig lias secured a loan of *yOO,000
at 4>4 p. c. from the New York Life IiiRuranoe Co. of New York, said
amount ooverod l>y first mortgage, ("he purchaser of the liulldlng
and the unsold merchandise is K. M. Sutton
Co., an old and wealthy
dry-goods firm of Baltimore. Of coarse the Lloyd L. Jackson Uo. will
go out of business. V. 78, p. 771.
dollar.
A
Keystone Telephone
Co.,
Philadelphia.— Bond*. -Presi-
The Federal Telephone Company now owes about $3,- dent Mack is quoted us saying in substance: "As soon as the
state of the market permits, the management will obtain
0<X),000, of which $1,500,000 is owed by the oompany to
the varlon.'^ members of the Everett-Moore syndicate and authority to Issue $2,600,000 more bonds of the same characWhen the aforesaid ter as the $2,500,000 already authorized, and issue about |3,11,500,000 is owed to outside creditors.
pool becomes effective it is expected that the Cleveland 500,000 of them."-See V. 78, p. 227.
Maritime Sulphite Fibre Co., Chatham, N. B.—Soli.—
bankers' liquidating committee will be relieved from further
This company's property, inoluding mills and a large amount
management of the Everett- Moore affairs.— V. 78, p. 231.
Fore RlTf r Ship & Engine Co.— Comr/it^ee.— John I. Water- of timber land in New Bruns wrick (it is said 262 square miles)
bury, President of the Manhattan Trust Co., New York, has was recently purchased at foreclosure sale by the Bank of
been elected the third member of the committee whioh was Montreal, representing 1450,000 bonds and $50,000 prior mortappointed by the bondholders to consider the raising of ad- gages. The plant, which has a capacity unoffioially reoorted
See V. 78,
ditional funds.
Onthrle (Okln.), Gas Light Fuel
Bonds
as 100,000 lbs.
p. 1170, 882.
— The
& Improrenient Co.—
C. E. Pratt Bond Co., Chicago, offers at
"interest the total issue of |75,000 6 p. c. gold (sinking
Offeree.
par and
fund) 20- year first mortgage bonds, of $500 each, dated Dec.l,
1903, due Dec. 1, 1923, without option of earlier redemption,
interest coupons due semi-annually; trustee, the Metropolitan
Tiust & Savings Bank, Chicago, No other indebtedness.
A
circular says:
Property Is worth at a low valuation 8206,000. Income for one year
$87,900; expense account (InoludlDR interest on bonds) $24,719 net
profit per annum, $13,181. President (and Treasurer), H. 8. Olark, of
the Melville Olarh Piano Co.; Secretary and Gen. Man. Is B. 8. Craig.
The company was incorporated in Oklahoma in August
1908 with $250,000 of authorized (common) stock, par of
;
Hygienic ("Mapl-Flake") Pood Co., Battle Creek, Mich.—
Preferred Shares Offered. The Finance Corporation of North
America, of Pittsburgh, as fiscal agents, recently offered
—
$100,000 of this company's |250,O0O of 7 p. c. cumulative preferred stock at par ($100 per share) a bonus of 1 share of
common stock being given with each 5 shares of preferred.
,
advertisement says
Incorporated under the laws of New Jersey. Capital stock, $2,250,000, divided into 20,000 shares of common and 8,600 shares 7 p. c.
cumulative preferred stock. The main ofibce of the oompany is located
at Battle Creek. Mloh., where is also located one of its factories, with a
capacity of 6C0 cases of Mapl-Flake breakfast food per day, each case
containing 36 pound packages. The company also has a large factory
located in the city of Buffalo, which has a capacity of 1,200 cases per
day and uses electric power obtained from the Niagara Falls Power
Co. This plant will have a capacity of 2,400 cases per day when two
new ovens, which are now being built, are finished. During the year
ending Oct. 31, 1903, the oompany sold 130,068 cases of 36 packages
each (4,682,488 individual packages). Mapl- Flake has been established
two years. To build up the business more money Is needed. President,
T. W. Swift; Vice-President, A. M. Mlnty; Treasurer. W. I. Fell; Secretary, A. B. Williams, all of Battle Creek. Registrar of stock, Corporation Trust Co., New York.
Illioois Brick Co.— Listedin Chicago.— The Chicago Stock
Exchange has listed the company's common and preferred
shares without the request of the management, who "regret
the action greatly."
J?ep or i.— See page 1221 of today's
Chbonicle.—V.
78, p.
586, oO.
Independent Telephone Companies. Increase in Rates.—
Tte following independent telephone companies have within
a few months Increased their annual rates for unlimited service as follows:
—
Oli Rates.
Business.
House.
f-
Cuyahoga Telephone Co.. Cleveland.... $48
xMarjlandT. AT. Co., Baltimore
48
Toledo Home Telephone Co
40
Logansport Home Telephone Co
18
Home Telephone Co., Los Angeles
48
X See V. 76, p.
each 24 hours,
made about
is
for sale,
and inquiries are
it.
Metropolitan Sngar Refining Co.— Iforiflragre.— The company, which recently bought land on the Hudson River, at
North Bergen, N. J., for a new sugar refinery, has filed a
mortgaere to the Lincoln Trust Co. of this city, as trustee, to
secure $3,000,000 of 5 p. c, 30-vear bonds. The land, it is said,
cost about $180,000. See V. 78, p. 991.
Mexican Telegraph Co.—Report. The results for the
year ending Dec. 31 were
—
:
Tear.
Gross.
Net.
Mex.Oov. share. Improv'ts. Divs. 1.10%).
1903. .$561,203 $463,035
$i!0,000
1902.. 456,008
$349,193
V. 76, p. 1358.
'
—
$l0.47l
•
(1)
BaL.suT.
$191.26U $241,304
191,260
157,933
—
Mutual Electric Light
Assessment.
Co., San Francisco.
assessment of $1 per share, it is stated, has been levied
on the 41,000 outstanding shares (par value |10). This is apparently assessment No. 6.— See V. 78, p. 50.
^ew Jersey & Fennsylrania Telephone Co., Easton, Pa.
—Sale. The foreclosure sale is advertised for April 16 at
Easton, Pa.; upset price $25,000.- V. 78, p. 823.
An
shares flOO.
An
being
$36
36
24
(?)
(?)
.
(?)
—
—
Yew Bates.
Business. House.
.
$72
72
48
SO
60
$48
60
30
(1)
(1)
756, 386.
—
New Telephone Co., Indianapolis.- Lease.-The shareholders approved on March 8 the plan to lease the property
until the expiration of the franchise and, presumably, renewals thereof, to a new company to be organized to extend the
system. The new company will be known as the Indianapolis Telephone Co., and will be authorized to issue $1,200,000
capital stock, of which $800,000 will be 6 per cent preferred
and $400,000 will be common stock; par of shares, $100. The
common stock, it is said, may pay, from the first, 3 p. c. per
annum. Dividends of 6 per cent upon the $400,000 common
stock of the New Telephone Co. and the 5 per cent interest
upon the $800,000 bonds of the New Telephone Co. will be
guaranteed by the Indianapolis Telephone Co. These bonds
include $500,000 first mortgage gold 5s and $300,000 consol.
mortgage gold 5s of $1,000 each (V. 70, p. 587), interest payable Jan. 1 and July 1, at office of Central Trust Co., New
York.
To provide for additions, extensions, etc., it is proposed
the lessee shall offer to the public now $100,000 preferred
and a little later a further $100,000, while the shareholders
of the New Telephone Co., it is stated on apparent authority,
were allowed to subscribe, $ for $, for the $400,000 common,
stock at 50, receiving 25 p. c. in preferred shares as bonus.
The system, it is asserted, has over 7,000 telephones in use in
Indianapolis, and over 1,000 additional in the suburbs, and
requires facilities for a further 3,000 telephones. The New
Telephone Co. was organized and incorporated on Jan. 22,
1898.
Its franchise is for twenty -five years and renewable
for twenty -five years longer. S, P. Sheerin, Louis Hollweg
and H. B. Sale have retired from the presidency and vicepresidency and secretaryship, respectivelyi to assume the
same offices in the lessee company.
Earnings. —The results for the years ending March 1, 1904,
and 1903 were:
Oper. exp.
Fiscal
Gross
Bond
Dividends
Surplus
Total
& Telegraph Co. on
page 1219.
Indianapolis Telephone Co.—Successor Company/.— See
Scdeprec'n.
year.
earnings.
interest.
paid (6j5).
for year, subscri's.
New Telepbone Co. ot Indianapolis below.
$113,410 $40,000 9'i*,0\tO $49,786
8,442
1S)03-04.. $227,196
International Mercantile Agency Co.— New Officers.— 1902-03.. 182,670
6,713
William C. Lane, President of the Standard Trust Co., was -V. 76, p. 923.
recently elected President; William A. Prendergast, ViceOil Fields of Mexico Co.— Oil Prospecting. This comPresident and General Manager, and W. H. Sterling, Secre- pany was incorporated Sept. 1, 1903, in Delaware, and has
tary.- V. 76, p. 1195.
takf n title to 6,177 acres located about forty miles inland
International Mercantile Marine Co.— Stock Holdings.— from the Gulf coast, midway between Tampico and Vera
Cruz in Mexico. The property is stated to be a proved oil
Director Bernard N. Baker was recently quoted as saying
A malority of the stock has been owned by English interests since field, and the company has been organized to prospect and
the formation of the concern. When It was organized there were is- develop it.
The authorized capitalization ia $10,000,000 of
sued about $25,000,000 of common stock and about $52,000,000 of one class of stock, of which a portion only has yet been
preferred stock. Of this at least $15,000,000 of common and $34,000,000 ot preferred stock went to the owners of the English lines in issued, and mainly for the acquisition of the land which was
settlement for their properties. This gave them about $49,000,000 of paid for in stook, par value of shares $100. The direotore
stock of both issues out of a total of $77,000,000. The other $29,000,(and officers) are:
of the stock belongs to the underwriters of the $50,000,000 bond synPresident, Percy N.Furber, 31 Naasan 8t.; Ist Vioe-Pres., Thoma»
dicate. This stock cannot be voted, as It Is tied np'during the life of
A. Nevlns of Thomas Nevine
Son, 45 Wall St.; 2nd Vioe-Pres., Major
the syndicate, whioh was extended for another year.— V. 78, p. 823.
Harry A. Hall of Pittsburgh; Treasurer, John B. Ingram of R. T. WilInternational Smokeless Powder & Chemical.— Common son & Co., 33 Wall St.; W. W. Dashiell, Haydyn B. Wescott, MajorStock Dividend.—The first dividend on the common stook General Cliarles P. Eagan, Philip H. Adee and Edgar C. Moxham, all
M. Howe.
has been declared, being quarterly, three-quarters of one p. c. of New York; W. L. Mlsslmer, Wilmington. Del.; Dr. H. Nathan
de
Phlladelohia, Pa.; John B. Hoefgen, Johnstown, Pa.; I. P.
payable April 20 to holders of record Mar. 31.— V. 77, p. 2393. ^zsngari, Mexico City. William Oilman Low Jr., 31 Nassau St., Is Sec(Lloyd L.) Jackson Co.— if guWaMon.— We have b sen fa- retary.
PennsylTania Coal & Coke Co.— Description of Plant.—
vored with the following authoritative statement
The company has paid off all Us obligations excepting $367,000 not The "Engineering and Mining Journal" of March 10 has an
doe before April 15. Against this sum It has abundant assets. The illustrated article regarding the plant at Gallitzln, Pa.— V.
See also report of American Telephone
—
:
<fe
holders of the preferred stock should get about 85 to 87ifl cants on the
77, p. 2102.
MAR.
THE CHRONICLE.
26, 1904.]
Phoenix (Ariz.) Water Co.— Suit.— See "State and City
Department," page 1236.—V. 77, p. 1229.
Pittsburgh Plate Glass Co.—See Qnited Plate Glass Co.
belov^.- V. 78, p. 705.
Prescott (Ar.) Electric Co.— Bonds Ojfered.— Louis Blankenhorn, Los Angeles, Cal., is offering at 95 and interest the
entire authorized issue of $350,000 first mortgage 20-year
sinking fund 6 per cent gold bonds, dated Nov. 16, 19Q8,
maturing Nov. 16, 1923; interest payable on May and Nov. 16
in New York or Los Angeles; denomination, |1,000 each.
Trust. Co of Los Aageles, mortgage trusTitle Insurance
&
A circular says:
tee.
The company owns and operates an electric light, power and telephone system In Prescott; a telephone system In Jerome, and 250
miles of long distance telephone lines radiating trom Prescott to all
important places and mines in Yavapai County, and within a radius
ol about 50 miles. Has liberal franchises for 50 years in Prescott
and 25 years in Jerome. In Preseott has nearly 600 consumers of
electric light, including some 60 arc lights famished to the city and
oommerclal establishments. Telephone subcrlbers in Prescott, 450;
In Jerome, 95. Controls Arizona State Telephone Co. For the year
ending Nov. 30, 1903, the earnings were: Electric light afld power,
$52,019; telephone, local and long distance, $24,884; total, $76,903
(against $58,039 in 1901-02); deduct operating expenses, insurance
and taxes, $52,892; net prolits, $24,011. With the new steam turbine, etc., recently put in, the estimate for 1904 is: Gross earnings,
8100,000; net proflts, $40,000; deduct 6 p. o. on $250,000 bonds,
$15,000; surplus for sinking fund and dividends in 1904, $25,000;
to which after 1904 add net profit of gas plant (for 1905) $5,000;
total surplus in 1905, $30,000. A.n expert estimates present value of
property at $297,000; cost of proposed gas plant, $60,000; cost of
electric and telephone extensions, $35,000; total value of security
to bondholders, $392,000. In addition a sinking fund is provided
after 1908, Increasing by flve-year periods.
Capital stock, $400,000, all of one class and all outstanding; par of
shares, $100 each. President, Frank L. Wright; Secretary, Thos. C.
Job; Treasurer, M. B. Hazeltine.
Qaincy (Mass.) Granite Qaarries Co.— Sale May 4.— The
foreclosure sale is advertised for May 4 at Qaincy. The sale
will be subject to any unpaid taxes and all liens prior to the
mortgage of March 10, 1900. See notice in "Boston Advertiser" of March 17.— V. 78, p. 992.
Beese-Hammond Fire Brick
1227
&
Sharon Coke Co.— Bonds.— E. H. Gay
Co. recently
offered at par $3,000 of the $1,250,000 first mortgage 5 p. c.
gold bonds, principal and interest guaranteed by the
Sharon Steel Co. (now merged in Union Steel Co. and so
controlled by the United States Steel Corporation) ; tax free
in Pennsylvania.
See V. 78, p. 1084.
Standard Rope & Twine Co.— Bondholdera" Committee.—
James Talcott, Chairman of the recent meeting of bondholders, has appointed the following committee to prepare a
plan for financing the company's requirements: W. A. Nash,
President of the Corn Exchange Bank
Damont Clarke,
President of the American Exchange National Bank; Charles
E. Orvis, G. T. Montgomery, and George W. Young, President of the United States Mortgage
Trust Co. The bondholders have confirmed the appointment of the committee.
V. 78, p. 992, 742.
Union Light, Heat & Power Co., Fargo, N. D., and Moorhead, Minn.-Earninga, Etc.— For the calendar year 1908 the
gross earnings are reported as |118,402, contrasting with
197,078 in 1902; net earnings, $47,768, against $83,570 in 1902.
Capitalization: capital stock, 1600,000; bonds (first mortgage
53 of 1902) authorized, $500,000; bonds reserved for future extensions and betterments, $235,000; present issue, $265,000.
Compare V. 76, p. 1196.
Union Steel Co., Fittsbargh.- See Sharon Coke Co. above.
;
&
—V.
76, p. 709.
United Plate Glass Co.—Selling Agency.— Pittsburgh advices state that this company has rented one-half of the
eighth floor of the Westlnghouse Building in that city, and
on March 1 was to begin acting as sales agent for all or
practically all of the plate glass companies of the United
States outside of the Pittsburgh Plate Glass Co. The following companies are said to have signed the five-year agreement to sell their product exclusively to the United Company under penalty of heavy fine, their total capacity being
unofficially stated as 15,000,000 feet annually:
Allegheny Plate Glass Co., Columbia Plate Glass Co., Edward Ford
Plate Glass Co., Heidenkamp Mirror Co., Klttannlng Plate Glass Co.,
Penn American Plate Glass Co., Saginaw (Plate Glass Co., St. Louis
Plate Glass Co. and Standard Plate Glass Co.
Edward Ford is President, Henry Troutman, Batler, Pa,,
Vice-President; C. B. McLean, Pittsburgh. Secretary and
Treasurer, and W. L. Kann, Alexandria, Chairman of the
Co., Bolivar, Fa.— Reorgancommittee consisting of James 8. Beacom of
Greensburg, Pa., James H. AUport, F, J. Dyer, John H.
Waters, J. S. Campbell and W. F. Soisson of Pittsburgh and
Roland D. Swoope of Clearfield, Pa., are proposing to reorganize the following companies, which, with gross assets of
executive committee.
$1,339,400 and liabilities of $789,202, confess insolvency:
United States Envelope Co., Springfield, Mass.—iVeto
Reese-Hammond Fire Brick Co., the United States Enameled Fire
Brick Co. and Hammond, Berkey <& Co. of Bolivar, the Carwensvllle Plant. This company, under the charter of the "Waukegan
ization.
—A
Fire Brick Co. of Clearfield County and ths Pennsylvania
Fire Brick Co. of Kentucky.
& Kentucky
will be known as the ReeseFire Brick Co., Incorporated, authorized to issue:
The reorganized company
Hammond
Amount.
Capital Stock, issuable to the present owners of stock and
partnership Interests; subject to votinst trust to conttnne tea
years unless earlier terminated by voting trustees, which In first
instance will be reorganization committee
Not stated.
2. General mortgage 6 p. c. 15-year sinking fund gold bonds, subject
to call at company's option at par and interest after three years
from date (entire net earnings to be applied to the paymeat of
1.
their principal and interest), viz.:
(a) First ierles, having a prior lien
To be sold to provide working capital
claims, taxes, etc.
(b)
Second
series,
1160,000
and to pay
laborers'
having a subordinate lien
760,000
holders of 2d mort. bonds of Reese-Hammond Fire
Brick Co.. as additional collateral for the indebtedneaa for
which said 2d mort. bonds are now held us security (said
claims to be paid oil 10 per cent semi annually witb
interest)
*1 17,000
(2) To depositing holders of unsecured Indebtedness
633.000
at 80 cents on the dollar
(1)
To
—
is constructing, just south of Waukegan, 111., a
large plant for the manufacture of envelopes. The buildings
will be of brick and stone and will cost, including equipment
about $160,000. They are intended for the accommodation
of the National Envelope Co., Division of Milwaukee, which
has outgrown its present plant. No new securities, we are
informed, will be issued on account of the same. V. 77, p.
Realty Co.,
—
774, 899.
United States Rubber Co.— Prices Again Advanced,— Oa
Saturday last the company announced to the trade a further
advance in prices of 7 p. c. on all classes of rubber foot wear
to offset the continued increase in the price of crude rubber.
Compare V. 78, p. 587, 993, 1171.
United States Telephone Co.— Bond Pool.— See Federal
Telephone Co. above.
Report.-Bee page 1225.— V. 77, p. 827.
Universal Pnenniatic Transmission Co.— New Enterprise.
The present Beese-Hammond Company has outstanding $58,000
bonds ($75,000 authorized) and $20,000 second issue bonds
This company was incorporated in New Jersey on Oct. 5,
($250,000 authorized), besides $202,520 bills payable and other fioat- 1903, with $5,000,000 of authorized [common] stock, to introiDg debt. Compare V. 77, p. 1297.
duce the vacuum system of pneumatic transmission covered
St. Louis Car Co. New Stock.— Thia company, which last by the DinspelStoetzel patents. The "Iron Age," in its issue
April added to its assets the control of the Laclede Car Co., of Feb. 11, contains an illustrated article which affords the
recently caused to be filed under the Missouri law certificates following information
showing:
At each of the relay points air is admitted only for a snflSolent time
St. Louis Car Co., an increase In capital stock from $1,500,000 to
to carry the cartridge through one section [one to three miles in
liabilities,
$2,486,681.
$2.000,0G0. Assets, $3,986,681;
length] and into the next. Thus is eliminated the necessity, common
Laclede Oar Co., a decrease in capital stock from $80,000 to $2,000. in other systems, for pushing a continuous column of air through a
Assets, $369,463; no llabllltieB.
long mileage of tubes. The promoters of the r.ew company claim that
the old systems eannot economically convey matter continuously
Both plants, it is stated, will be operated.—V. 76, p. 1252.
more than about 2 or 3 miles, owing to the frictlonal resistance of a
column of air of that length. On the other hand, they assert that the
comThe
Dividend.—
San Franeisco Gas & Electric Co.—
DinspelStoetzel vacuum system can send a carrier weighing as much
pany has declared a second quarterly dividend of |1 25 per as 500 pounds through a tube 16 Inches In diameter, at the rate of
share, being at the rate of 5 p.c. per annum, payable Mar. 81, about 2 miles per minute, with a vacuum of only 6 Inches of mercury,
would be entirely practicable to sendlmatter from New
to holders of record March 21. Dividends previously paid and that it
York
to Chicago by this system, using timing Idevlces at Intervals of
irregularly were made quarterly last December after acqui- from 2 to 8 miles and relay pumping stations at longer intervals.
sition of competing companies. (Compare V, 77, p. 2287).
The franchise to operate in St. Louis between the Union
Eaminga.— Fox the calendar year 1903
Station and the Louisiana Purchase Exposition was not com$574,957 pleted, "as the company refused to be held up by a part of
Oas income
$1,493,746 Netincome
—
first issue
i
:
I
Electric income
Total tnoome
1,011,026
$2,504,771
I
1
396,211
Dividends
Balance, surplus
—
$178,746
NoTB—The absorption of the Pacific Gas Improvement Co. was completed on Oct. 14, 1903; of the Equitable, Nov. 1st; of the Independent
Gas & Power and the Independent Elect. Light & Power Nov. 17, 1903.
The net income before deducting contributions to depreciations and contingent funds was $969,957, contrasting with
f708,988 in 1902. Stock outstanding Jan. 1, 1904, $15,794,284.
—V. 78,
p. 233.
Savannah (6a.) Gas Co.—Jfor^grasre.— The company has
filed a mortgage to secure $1,750,000 of sinking fund 5 p. c.
bonds due in 1923, guaranteed principal and interest by the
United Gas Improvement Co. of Philadelphia. A large block
of these bonds has been placed by Erwin & Co. of Philadelphia. The price, it is understood, has been advanced from
103)^ to 104.—V. 77, p. 2162.
the House of Delegates."
The company's
officers are
:
one of the patentees, Is President; F. J. Rucly,
Vice-President; G. E. Burns, Second 4Vloe-Presldent; A. J. Williams,
Secretary; Siegfried Melohn, Treasurer.
The general offices are at 231 Canal Street, Chicago.
Joseph
J. Stoetzel.
Western Union Telegraph Co.— Litigation Possibly Not
Ended,— SsB report of American Telephone & Telegraph Co.
on page 1220.— V.
78, p. 1121, 705.
—The grain and stock-brokerage firm of Sickel, Roberts &
removed its offices to No. 4 Board of Trade building,
formerly occupied by Prlngle & Browning. The latter firm,
reorganized under the style of Pringle. Fitch & Rankin, now
occupies the late quarters of Harris, Gates & Co.
Co. has
.
.
THE CHRONICLE.
IJJb
[Vol. lxxviil
COTTON.
'^hc (Tomjucrcial '^imjcs*
COMMERCIAL EPITOME.
Friday Niqbt. March
26, 1904.
More seaaonable weather conditions have been experienced
thronghont the country, and have been reflected in increasing
Friday Nwht, March 25, 1904.
as indicated by our telegrams
is given below. For the week ending
The Movement op the Cbop
from the South to-night,
this evening the total receipts have reached 64,443 bales,
against 65,087 bales last week and 48.056 bales the previous
week, making the total receipts since the 1st of Sept., 1903,
6,645,484 bales, against 6,915,225 bales for the same period of
1902-3. showing a decrease since Scot. 1, 1903. of 269,741 bales.
Jobbers
Receipts at~Sal.
Wed. ThurM.
Jtfon.
Tuet.
tri.
ratal.
and the retail trade, now that the spring season seems to be
fairly well established, have been calling for snpplies with OalveBton.
2,292 2,072 4,781 4,863
411 2,662 17,081
Sab. Pass, &o.
418
418
greater freedom, so that, as a general rule, manufacturers
Orleans...
New
6,950
5.560
4,000
2,158
2,566
1,675
22,904
old
making
shipments
on
pur
engaged
in
are now well
Mobile
245
139
45
74
36
912
1,451
chases. They also claim to be bookiufr a considerable qnan
PeoBaoola, Ao.
113
118
Pig iron has continued to meet with Savannah
tity of new orders.
912 1,609 1,221
1,C92 1,367
1,456
7,687
Bnmsw'k, &o
241
241
a fairly full demand, and prices have been well established on
Oharleston..
..
2
5
682
16
90
16
810
heavy
export
basis.
A
demand
higher
has
slightly
been
a
Pt. Royal, &0.
experienced for copper and an advance in prices has fol10
Wilmington....
407
323
98
498
1,395
59
lowed. The speculative market for cotton has been unset• .>*•.
Wa8li'ton,&o.
tied, awaiting the basis of the settlement between the failed Norfolk
813
8.514
1,284 1,108 2.345 1,824 1.640
592
592
N'p'tNew8,Ao.
firm and its creditors.
500
150
350
Lard on the spot has continued dull, exporters doing prac- New York.
144
247
1,805
Boston
205
128
143
638
tically nothing in the local market, and the demand from
903
903
Baltimore
refiners has been light. There has been, however, no especial Plilladelp'a,Ao
91
333
17
52
25
18
180
pressure to market supplies, and prices have been well mainTot. this week.
7,822 16,743 18,393 8.585 10.294 64,442
7,601
tained, closing at 7'35c. for prime Western and 8'50@8"75c.
The
following
the week's total receipts, the total since
shows
for prime City. Refined lard has been quiet but steady,
Sept 1, 1903, and the stocks to-night, compared with last year.
activity in toe general distribution of merchandise.
•.
closing at 7"45c. [for
refined for the Continent.
Specula-
tion in lard for future delivery has been moderately active
and prices have advanced slightly on buying by packers and
It is claimed that the cost of hogs is at present
shorts.
relatively higher than the prices obtain for the products, and
The close was firmer.
this had a bullish influence.
DAILY OLOaiHQ PBIOBS 09 U4BD rDTUBBB IN OHIOAGO
Tueg.
Hon
Wed.
Sat.
Thurs. Pn.
S-97ifl":.:T6-92ifl 6 97ia
MaydelT
6-97Ja 7-00
6 90
710
7 1219
7-05
7*10
7-15
Pork has been in slightly better demand, closing steady at
$15 00@16 50 for mess, $14 50@18 50 for short clear and
$15 50 for family. Cut meats have had only a small sale but
prices have been well maintained, closing at 6i^@6J^c. for
pickled shoulder?, 9J^@10c. for pickled hams and 7j^@8c. for
pickled bellies, 14@1U lbs. average. Beef has been quiet and
prices have been barely maintained, closing at $8 50@9 00 for
mess, $10 0C@11 00 for packet, $11 00@12 00 for family and
$15 00@15 50 for extra India mess in tcs. Tallow has been
dull and unchanged at 4^c. Stearines have been in better
demand and steady, closmg at 73^c. for lard stearine and
6;^^c. for oieo stearine.
Cotton-seed oil has been fairly active
at lower prices, closing at 35?:^c. for prime yellow. Butter
has been in small supply and firm for choice grades, closing
at 15@24>^c. for creamery. Cheese has continued to meet
with a good, steady demand, and pricesjhave been unchanged
at 9J^@12c. for State factory, full cream.
Eggs have been in
full supply, but there has been a good demand and prices
have held steady, with best Western quoted at 17c.
Brazil grades of coffee have been sparingly offered, especially the lower grades, which have been in limited supply, and
prices have shown a tendency to advance. The close was
steady at 6%o. for Rio No. 7 and 7%c. for Santos No. 4. West
India growths have been in slightly better demand and prices
have been steady at 83^c. for good Cucuta. Speculation in
the market for contracts has been more active. Bull interests have been more aggressive, influenced by small
receipts, and prices have advanced.
The close was steady.
Jalydei'y
7-12is
Following are the closing asked prices
Maroh
5'50o. July
5-800. Nov
AprU......^... 5*60o, Bept
6-05o. Deo
1902-03.
1903-04.
Receipts
to
March 25
This
week.
Since Sep,
1, 1903.
Galveston...
Sab. P., Ac.
This
week.
Stock,
Since Sep,
1, 1902.
20,736 1,931,435
114,747
6,027
36,186 2,010,689
2,;il3
197,32
900 143,809
17,812 1,222.137
2,146 119,410
445 207,522
2il
1,388 326,147
336
387
433,564
4,419 454,395
16,501
216
20,589
7,547
297
27,657
80,554
19,804
3,032
487
24.148
35,963
22,241
12.290
647
17,081 2.242,288
413
98,985
New Orleans 22,904 1,807,630
189,592
MobUe
1,451
113 126,180
P'saoola, &o.
Savannah...
7,687 1,074,391
241 120,352
Br'wlck, Ac.
810 150,283
Oharleston.
1,068
P. Boyal, &o.
Wilmington.
1,395 320,525
Wash'n, Ac.
Norfolk
N'portN.,&c
New York...
Boston
Baltimore.
8,514
592
500
1.505
903
333
.
Phlladel,Ao.
64,442 6,645,484
Totals
1904.
1903.
26,064
89,646
329,773
213,256
9,213
10,331
i!
49,889
7,090
7,684
64,835
6,015
3.872
9,661
13,601
107
96,581
28,000
175
66,115
36,000
3,477
4.838
10,679
2,872
2,545
576.042
97,046 6,915,225
6013
522,028
In order that a comparison may be made with other years,
we give below the totals at leading ports for six seasons.
Receipts
at—
Galves'n, &o.
New
Orleans
Mobile
Savannah ...
Ohas'ton, Ac.
Wllm'ton, Ac
^
1904.
1903.
1902.
17,494
22,904
26,763
36,186
2,313
17,812
115
1,383
4,419
20,714
27,269
1.451
7,687
810
1901.
1899.
35,737
38,321
13,326
29,647
20,328
50,948
186
227
8,068
16,299
1,476
2,691
15,891
3,088
6,829
1.847
667
981
1,586
6.270
932
235
11,489
5,178
88
7,694
1,947
2,995
37
10,957
12,384
77,178
106,001
80,57."
101,801
Norfolk
1,395
8,514
N. News, Ao.
All others...
592
216
929
3,595
7,509
wk.
64,442
97,046
Tot. this
1900.
7,919
379
6'25o
6'35o
Since Sept. 1 6615,484 6915,225 6812.370 6394,233 5956,215 7652,362
6158. Jan....
6-400
Raw sugars have been in brisk demand and prices have
advanced to 3%c. for centrifugal, 96-deg. test, and S^^c. for
muscovado, 89-deg. test. Refined sugar has been in fair demand and at the close prices were higher at 4-70c. for gran-
The exports for the week ending this evening reach a total
of 65,398 bales, of which 21,981 were to Great Britain, 160
to France and 48,257 to the rest of the Continent, Below
are the exports for the week and since Sept. 1, 1903.
May
8-60e,
Oct..
Week EnAing Mch. 26
Teas have been quiet.
Ejsrxrrted to—
E3>port*
Kentucky tobacco has had only a limited sale but prices
—
OontiGreat
ftom
have been unchanged and steady. Seed-leaf tobacco has
France
Brit'n.
nent.
been quiet but the tone of the market has held steady. Ha17,501
vana tobacco has been in fairly brisk demand and Sumatra Ualveston.... 7.137
tobacco has been steady. American interests have been fair Sab. Pass. &&.
23.761
New Orleans.. 11,066
buyers at the offerings in Amsterdam of new crop.
>*•••
Prices for Straits tin were higher early in the week, but at MobUe
lis
Pensaoola
the close offerings increased, and prices declined, final quota100
Savannah
tions being 28-50@29c. Ingot copper has been in good deBrunswick ....
mand for export and prices have advanced to 12%@l3c. for Charleston....
••••*
both Lake and electrolytic. Lead has held steady at 4*80@ Port Boyal....
4'65c.
Spelter has advanced to 5-10@5-15c. Pig iron has Wilmington...
been in fair demand and firm, closing at |U 75(315 for No. 2 Norfolk.
Northern and $13 75 for No. 2 Southern.
N'port N., &o..
100
1,697
Refined petroleum has been steady, closing at 8 '650. inbbls., New York
2,496
167
1.106
Boston
Il*.i5c. in cases and 5-75c. in bulk.
Naphtha has been nn200
at 12'40c. Credit balances have been steady, closing Baltimore
°?t^^l^
962
Spirits of turpentine has declined, closing steady PkUadelphla..
ilio.
50
at f
58@58>^c. Rosins have been quiet at $3 75@2 80 for com- dan Fran., fto_
mon and good strained. Wool has been firm but quiet. Hops Total
160 48,867
81.981
have been quiet but steady.
Total, 1902-03. 86.442 15,173 56 936
ulated.
,
1904.
i
1. 1908. to Uch. 26. 1904
Exported to—
Sept.
Great
lotal
France
Week. Britain.
84,688
33,820
'
4.
Wrom
113
100
Continent,
TotaL
749,586 316,619
695,01.3 1.761.208
17,115
578,166 216,680
86,122 16,308
88,087 18,691
170.455 66,299
71,848
88,963
611,177 1,806,018
63.136
114.660
84,801
64,746
547,859
116,464
7,124
774.118
91,985
48,055
43.066
834,456
866
308,688
8.066
1,600
326.306
83,755
84,374
88,801
89.494
....
.
•>•.
67,880
1,000
6.860
200
200
4,252
1,808
2C0
982
60
181,538 83.637
• ••••
78.587
50.938
26,356
27
1,300
183,186
6.168
38.636
8,446
39,167
65,398 2,080,180 649.809 2.413,884 5.178,878
l6H,5fil 8,463.422 710,764 8.a04,18b 6.778,374
Mar.
THE CHRONICLK.
26, 1904.]
In addition to abore export!, our telegrami to-night also
ni the following amounti of ootton on ihlpboard, not
cleared, at the port! named. We add similar flgnrei foi
New York, whloh are prepared for our special use hj Messrs,
Lambert & Barrows. Prodnoe Ezohange Buildlns.
1229
New
FtJTUBKS.—Highest, lowest and closing prices at
York.
irive
on SHIPBOAB0. HOT OLBABKD TOB—
Meh. 25 at—
Leaving
Gerertat
Other OoastBritain rr'nee many. Por'gn teise.
COM
New
21,819 14,396
8,274
Orleans.
Galyeston.. ..
Bayannah..
..
5,633 13,336
2,000 1,100
• ••«
472
2,475
Charleston...
MobUe
"400
"ioo
"706
2,000
1,000
Norfolk
New York
Other porta
.
"256
r,2o6
"206
56,656
13,849
12.216
49.889
7,684
i',856
7,500
7,500
1.300
3,000
i
I
1
492,887
Total 1903..
Total 1902,.
51,708 13.582 31,326 25,064 11.450 133.130
29,028 6,401 27,494 87.941 16,963 117,827
Sf 8.893
-3»
OO"
0!0>
I
d
OKI
OCQ
9 03
I
<»
I
I
a
I
'
Speculation in cotton for future delivery has been fairly
but the tone of the market has been unsettled. The
uncertainty as to the basis on which D. J. Sully & Co. will
make a settlement with its creditors has been a disturbing
factor in the market. Early in the week, on the theory that
the failure would not be a bad one, and that a satisfactory
settlement would be made, prices made a fair advance. Subsequently, however, after the basis of a settlement was
offered, it was not as satisfactory a one as the trade expected,
and had a depressing iiflaence upon values. Bear interests,
taking advantage of the disturbed financial conditions surrounding the market, became more aggressive, and sold rather
freely. At the lower prices spiuners were reported showing increased interest in the market as buyers, and the reports of an
improved demand for actual cotton had a steadying|itfluenoe.
To day there was considerable activity to the trading. As a
result of bear manipalatioa the market opened ac lower
At about midday the final report of the Census
prices.
Bureau was issued.
It made the total crop, including
round bales as half bales and including linters, 10,011,454
bales, equal to 10,045,614 bales of 500 lbs. standard.
Based
on this small indicated yield, the market turned decidedly
stronger. Active buying for the account of shorts to cover
contracts developed and there was fair buying for investment account; prices advanced about Ic. per pound for the
active months from the low figures of the morning, and the
close was steady at a net gain for the day of 71@76 points
for the crop and 9@20 points for the next crop. Cotton on
the spot declined during the week, but closed higher at 14 75c.
for middling uplands.
The rates on and ofiF middling, as established Nov, 18, 1908,
by the Revision Committee, at which grades other thar
middling may be delivered on contract, are as follows.
Even
Fair
...................0. 1*30 on Good Middling Tinged ..0.
Middling Vatr ..w...^ ...... 0-96 on
0-62 on
Strict Good Middling
GK>od Middling.
.....
Tinged
Middling Tinged
0-44 on
Strict Middling
Strict
Low
— 012
06ofl
Mid. Tlntred... 0-84
off
ofl
ofl
ofl
0-50
Middling
014ofl Low Middling Tinged.
Low Middling
^ 0-38 off Strict Good Ord. Tinged... 0-84
0-50 ofl
0'72 off MlddUmg Stained
Btriot Good Ordinary
Good Ordinary
.^ I'OO off Strict Low Mid. Stained... 106 ofl
1-50 ofl
Btriot Gtood Mid. Tinged.. 030 on Low Middling Stained
On this basil the official prices (or a few of the grHde» foi
the past week— Mch. 19 to Moh. 25— would be as follows.
Strlot
Low
UPLANDS.
Sat.
Mon Tnes Wei
13-50 1300 13 00
14-12 13-62 13 62
14-50 14-50 1400 1400
14 94 14-94 1444 14 44
15-46 15-46 14-96 14-96
1350
1412
Gtood Ordinary.
Low Middling..
Middling
Good Middling.
Middling Fair..
GULF.
Sat.
Men
Wed
Tues
Til.
Frl.
13-50
1875
14 13 1437
1
1450 14-76
14-94 15-19
15-46 1671
Tb. Frl.
I
Middling Fair
STAINED.
Sat.
non Taes
l¥ed
Tl».
Frl.
Now
York on
qsuotafclona for middling upland at
for eaob of the pist 82 years have been as follov s.
1896—0. 7;3ia 1888. ...c 9iBie 1880....C ISie
1904... .0.14-75
10i«
1879
10>4
1887
1903...... 10 15
LS96
6%
—
8ie
1894.
1893.
.
g-Tg
1892...«,„.
.
6Bie
6iia
76i6
S-'a
..
..
'lOie
1886.
8i5|e
ti%
1886...,. 11^4
.
9>e
113,8
1884
Ide
1888
1891. ..».,>. 9
1882
l^'ie
1890...„„. ll's
IOI1
1881
1389....... 10i«
MARKET AND SALES.
iAJLUB
SPOT MABKB7
Olosbd.
J.'
'
..
-
port.
sumi
1.880
2,777
Firm
Thursday.. St'dy, fOpts.ad. Steady
Friday
8t'dy,25pt8.ad. steady
Total
0» SPOT
11*«
1898
16i>8
ie«8
IS'*
* OOWTBAC
Oon-
OLOBBD.
Saturday.. Easy, 50 pt8. dc. Very steady.
steady
Monday.... steady
Tuesday... Dull, 80 ptB. dc Steady
Wednesday
iCe
1878
1877
1876
1876
1874
1878
....
....
iracl
900
eota
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O
The Yisiblb Uupfly op Uotton to-nlgnt, as made np by
}able and telegraph, Is ai follows. Foreign itooki, as well
as the afloat, are this week's retnrns, and consequently ail
foreign fignrei are brought down to Thursday evening,
Sut to make the total the complete Sguret for to-night
;Mch. 25), W6 add !he Item of exporti from the United States,
II
III
noludlng In
If'
CO
it
the ezporti of Friday only.
1904.
1903.
1902.
1901.
Ssook at Liverpool.
bales. 575,000
700.000 1,132,000 740,000
Stock at London. _......«....
..
12,000
8,000
6,000
18,000
Stock at Manchester^.. ......
.
63.000
Total Greai Britain atook.~ 650,000 708,000 1,138,000 753,000
itook at Hamburg. .... .... ....
8.000
7.000
14.000
16.000
itock at Bremen ..... .
....«
372,000 281.000 233,000 243.000
Atock at Antwerp ....... ..^..
4000
3,000
8.000
5,000
jtook at Havre
..
213.000
191,000
231,000 146,000
.... .
3.000
Marseilles....
3.000
2,000
^took at
...
4,000
44.000
40,000
59,000
29,000
stock at Barcelona . . ...... ...
40.000
Genoa
21,000
32,000
38,000
jtook at
5,000
5,000
4.000
5,300
nook at Trieste . .....I ........
666.000 574.000 5''3,000 476,200
Total Continental stocks.
Total Buropean stocks..... 1,3 16,000 l,28-z.0OO 1,721,000 1,229,200
18U.000
72.000 121,000
ladla cotton afloat lor Surope 228.000
Imet.cottonafloatforB'rope. 192,000 481,000 333,000 440,000
52,000
39,000
43,000
30,000
lgypt,Brasil,Ac.,aflt.for£^pe
atoekin Alexandria, Egypt... 280.000 142.000 231,000 1 84.000
389.000 700,000 603 000 543,000
Bombay, India
•3tock
etock in Dnlted States ports.. 576,042 522,023 7.*i 1,460 824,536
427.103 687.474
Stock In U-B. interior towns.. 300.245 242, ib7
30,350 ^_____
6.670
20,256
9,652
(Jnited States exports to-day..
Total visible supply. ...«>.3,283,839 3,620,540 4,184.233 8,979,465
Of the above, totals of American and other descriptions are as toliow s:
—
bales. 487.000 623,000 1,012,000
iJverpool stock
63.000
Manchester stock
629,000 634,000 647.000
Jontlnental stocks
American afloat tor Burope... 192.000 481,000 833,000
576.042 622.023 751.460
Waited States stock
anitedStatesinterlor stocks. 300,2*5 242,167 427.103
80.350
6,670
9.552
ntnltedstatesexportsto-day..
2.256,839 2,432,540 3,077,233
Total American
Ma$t Indian, Braail, <le.—
77.000 120,000
88.000
ijlyerpool stock.,
6,000
8,000
12,000
London stock
3t>,000
40.000
37.000
Continental stocks...... .........
72,000
169.000
India afloat for Burope . ...... 228 000
f2 000
39,000
43,000
Sgypt.Braail, Ac, afloat
142.000 231.000
Stdok in Alexandria, Egypt... 230.000
stock In Bombay, India...... 389,000 700,000 603,000
1,027.000 1,188,000 1.107.000
Total Bast India. Ao
8,256,839 2,432,640 3.077.233
Total American...... .
Total risible supply. ._»3,283,8a9 3,620,540 4,184,233
5-34d
4^d.
772d.
Middling Upland. Liverpool.
10-050.
8l5i8C.
Middling Upland. New York.. 14-760.
.
Mch. 25
1908
1901
1900
1899
1898
1897
o
I
tbto
COM
coco
cJiM
Amenean—
13-00 13 00 1280 12-50 113 00 13-26
Low Middling
14-00 14 OU 13-60 13-50 114 00 14-25
Middling
14-41
Strict Low Middling Tinged... 1416 14 16 13 66 13 66 1416
14-50 14-50 14-00 14-00 114 60 114 75
Good Middling Tinged
The
«
I
obiK>CK
m
13-25 13-25 1375 14-00
13 87 13-87 14-37 1462
14-25 1425 14-75 15 00
14-69 14 69 10-19 15-44
|l5-71 115-71 1521 1521 16-71 15-98
13-75 13-75
1487 14-37
14-75 14 75
15 19 15-19
Good Ordinary
l/OwMiddUng
MtddUng
Good Middling
CO
Mm
active,
iT^e^
c;>Oi
M MM
<l<0
OOO
638.882
obob
ocw
6*-
«
teCO
I
I
83,155
OOO
I
43,tJ59
32,493 14,396
o©
I
8,481
2,161
95,281
Total 1904..
9,733 15,836 10.697
(SO)
274.117
ill!
I!
11
ttoek.
Total.
,
1,880
8,677
203
203
211
100
26
700
^00
1.300
1.326
5,196
2,900
8,096
211
638,000
27,000
44O.OO0
824,638
587,474
20,«56
2,937,265
4
102,000
13.000
49,200
1-21,000
o 0,000
184,000
543,000
1,042.200
2,937.265
3.979.465
Alhad.
SSj^e.
Bgypt Good Brown, Liverpool
9i«d.
Uiiiftd.
e>ie(l-
tiiBiad.
Bough Gtood, LI veri>ool
10-25d.
780d.
7>«d,
7'4d.
6d.
5d.
7d,
40iad,
7'4d.
broach PJne, Liverpool.. ._«.
rinnevelly Good, Liverpool...
Perur.
*'>%i.
4 Sad.
4&iad.
Continental Importt past week have been 98,000 bales.
Thf* above fignrn for 19C4 show a decrease from last week
of 65.619 bales, h decline of 838,701 bales from 1903, a decrease
of 900,894 bales from 1902 and a loss of 695,828 bales from 1901,
__,
f
.
..
rf
niE CHRONICLE.
1:>30
At th« Ihtbbiob Towns
the
—
movement that Ib the reoeipis
for the
for the week and since September 1, the ehipments
for
the
items
same
the
and
to-night,
stocks
the
and
weok
oorrei^pondinjj: period of
1
90908— la
s m
m » 9
I
OLoamo QnoTATioOT vob midduiio oottoh oh—
Week ending
March
25.
Batur.
tr
•- S
o
4
jj
•
or-
New Orleans
Mobile
Bavannab...
Oharleaton
Wilmington.
Norfolk
Boston
Baltimore
o
^ro*
O
9
^^ C• *
—
-5 = 3
.
Philadelphia
M
.
M N
•• X
=—o
»i
isa
u
.^
t
>
*
" ^
Angnsta ....
Memphis
*
St.
^
cnV to o w m o «i ^
00
Vo
M
a!»o~icoc».«o-j3owoooifkooo»jo «ro»)-3i^
Ol
fo
O"
*>•
^-^
('•'b
^
-J
•q (D N! OB »3
10 b«'a:
V'
—
"
_W M 09 ^^ * 'W
^
ooi-'VV'"-»»c*— Va^ wo*'Oo•
otcj"
^O ^
0»•'-'•J''^OIO^O'o-J^^o-loat«qv^^-'yl^s-03,
0»OOHO-'0>©aotaor»OM»oOO<D>-'Ooas — !-• —
Vow
14%
14%
"...
14>fl
14
14
14^
14%
14
14
i'l^"
I4I4
1408
iVii'
iV"
iV"
i4i«"
14-50
14-50
14-25
I4I4
14
14 00
14-25
14-25
14-50
l4^
1414
14
14>4
14
13%
13%
ISM
14-00
14-26
14-76
I4I4
I4I4
14»4
14
13»«
V *> CO
O
"-i
M
tO'-'—'
<Ji
»3
is-bo
14fi0
14-75
14-60
14-60
14-76
I4I4
I4is
14>4
14»«
ii'"
14%
14
14
14
50
1600
14%
14Hi
14H
I4ie
181.
'-•
>-''''
Bat'day.
t4>'taM7a*4^H'>io>0'>^(X);>ic^oaaDcoit^i»oa3Ccau<<ooov<'-j
—
tH.
14
14
14
Nbw obleans Option Mabeet.—The highest, lowest and
closing quotations for leading options in the New Orleans
cotton market the past week have been as follows.
— <o — — '-0S05^o>O»l:'*«' i^O'i»»aow>J»oW030D<»><1
O w c: O CC 00 05 TO 03 K) OO C^ * J^ OD^ » o: tC 00 OB CO JO 00 00^ oe
b'-io oaVs «o otlab o cs'b'cn'cc"'"- Vo cc c^b «o -i
^
a
o
5(»i^C5*.cooco — (S^oc^.*.^oy*>.'r>c-Ol^»•«DQD^o-ioo-*.coo«'yoo
oei-'«j05-'
Louis
Houston
Uttle Book.
l'.'^
o«io£;»N»C5
o5o®Oooi.jC.'>c;^«o«wcowM*.:»^-oaD«c»to«aQDi^oo»oo:«tao>
03
CO
Thun.
..
N
eo u3
Wednu.
Tuu.
iron.
14%
14%
dalveston. .
"do =^aX U
''S
I
Vol. lxxviii.
goOTATIONS FOB MlDDLINQ COTTON AT OTHBB MaBKBTB.—
Below are closing quotations of middling cotton at Southern
and other principal cotton markets for each day of the weeki
set out in detail below.
cgoB
I
0<
C
OO-J«C«t®«0C0-'
mabch—
O-JOOO
Range
*s
'£>O0B»l(^
1
Closing
Mondai Tuetday, Wed'day, Thurtd'y Friday,
Mch. 21 Mch. 22. Mch. 23. Mch.2i Mch. 25.
—
—
3 -30 0-42 13-94006
-»
13 329-44 18-80 9-92 18 -669 -60
14-00^-04 13 16 O -18 13-769 - 13-860-90 14-649-65
13-69®
. .
Mat—
—
Range..., 13-S8»-10 14-13® 4B 13-46 9-91 13-469-13 13-96 9-83 18-98 16 08
Olosmg... 14-010-02 14-86 3> -37 13-649 66 14-109-11 14-17 O -18 14-979-98
*
to
l-<»J«J«a
C^
Mch. 19
os c^ oo ob
July—
'y Tnoo».'bo'^<i»ooVobV8b*^*oeo'f»^''«>-50'~2r''*'^2
Range.... 13-800 -BO 14-S0-9 82 13 81-W 80 13-800-60 14 36 9-72 14-88-16 40
«4i l4-77« - 13893-90 14-49 O 60 14 669-67 15-379-88
CJi^"<e<5>-'kD^W«J00O>»3OltkM-«D«0cr— oaeCWOOJ>-"fle*"530«»»««0
aa»toio^o>^-'«>'Oocoa<xcj'kaaor'«4xoo»'Coeaa<cdtoc^i->ooto(Oib
ClOSlBg... 14-43
AtJGUST-
M M
VjxCCOOW
!&
•
(X;CO«<»OiI
«C
I-'"'.-
c;<!DO'O<00
ftdoa^yi'
-<
CO
Range.... 1387 » -88 14 00» 36 13-28 9-76 13-28 9 60 13 899-07 13-740 70
.. 13-84 -» 85 14 07 » -09 13 309
13889-90 13-860-89 14-669-69
»«»
00
to'i-COK}
to -J to 00 03 to ® a
— ~jO>C500
* Oh-|U«.«eOMCTo.©
CloHlnjf
«OOtOia
Ol^C^OD
I-'
OCTOBEK-
Range .... 11-409-85 11-689 90 11 299 67 11-80 9-63 11 619 65 11409-80
Olosmg... 11-78 • 79 11-749 7fl 11-309 32 11 62 9-63 11-67 9 68 11-749-75
tc-jo3*a:ooo"CDic«ocj'eo»jooo>-'i-'-J'-toci5i^o>-«a
TONB—
p'
»a
to
Spots..... Irregnl'r Irregul'r Unsett'd Steady.
Pirni
Rtftadv
l^nlei
i^ao<ocoacitou>coo3tOHoacMODc3i^t3aow«o>-^o>aDa«j-3ac»:flo i^ao>»>cooD»oci>coatoH"
®y>!StvXC0~JC®3'<'-JC0C;»-"-C *> W V»tOiU-oa_r-OOipOtO;»)ll^^
VViboo — aVM'aoD^VoVVVw «"***— jo i-'i-iVj « -j* co to c^ tc to c^ -a
;ei-'^»)O«-'t0»:^K)
— Qoi-'COeor-o' — oi»-jc»<'OoatoaDtoi-'cooe<3«q
Weather Reports by Telegraph.— Our
otowo>v^~-<o<<Qi''ooaMaD^OQD-jaovi^M<e>'Ooaooot4Cova
Steady,
Quiet.
steartv.
Steady.
telegraphic re-
from the South this evening denote that favorable
|»to
OS*M
weather has prevailed in most sections during the week. As
•»
to; 00
toi-<ka
^'UtH'^tOK i-'';<3Maito~a9»'0'>->V3' c^to»-'«-'H'toeoo;o<»; "<om ^
a result good progress has been made with farm work, and
ooo^tooo
.>eo<>->^>> OSi^'-ctc^oocoacKl >] a " c^ to K> to 00
oiv)Mto^o<0^*40oi^^^aoi^as- co e£>c^c>awi^ooo>i i^toh'Ots
planting is under way in early localities.
Galveston, Texas. — We have had rain on three days of the
-•
CO
M to "-r-c
to
week, the rainfall reacbing thirty hundredths of an inch.
00 «4
w — M o O" o - o a 00 to o ^ 00 ^ 1^ •] M 00 «. Oli^
ccD-jaDCCOi-'ro*^*^*^©
'-I Vo"<ic;"coo:"toxaoc©0'"""ci3 -jOco'xeoooifr
The thermometer has averaged 69, ranging from 6 B to 73.
»»^to-tO"-toO-i"-»JaD©ccoODccoaD»--l-jroa:ODMto^#-c;'ODh- to*
O
o|^tOtO^O*>-P-<10A<IO>-IN)MattO«»0«00>tOOCO»"-«0©«*'l-'«; -J*
San Antonio, Texas, — It has rained on one day of the week,
The aDove totals show chat the interior stocks have de- the precipitation being fourteen hundredths of an inch. The
creased during the week 15 217 bales, and are to-night 58,078 thermometer has ranged from 62 to 94, averaging 78.
Corpus Christi, Texas,— There has been rain on one day
bales more than same period last year. The receipts at all the
of the week, the precipitation reaching two hundredths of an
towns have been 13,265 bales less than same week last year.
Overland Movement fob the Week and Since Sept. 1.— inch. Average thermometer 75, highest 82, lowest 68.
Palestine, Texas, There has been no rain the past week.
We give o«low a statement showing tue overland movement
for toe week and since Sept, 1, aa made np from telegraphic The thermometer has averaged 70, the highest being 86 and
ports
.
->
:,;• ;
fc-
—
The
reports Friday night.
March 25 and since Snnt
^
results for the
two voarn «rp
'n thf»
25.
Week.
t»s
fince
Sept 1.
Week.
—
Since
Sept 1.
Skipped^
V
Total gross overland.....
......
12.844
6,322 1448.406
8,107 237,997
a St. LonlB, ............... ......
Via Cairo
Via Padaoah..... .... ............
Via Rook iBland.... ........ ......
Via LoaliYllle. ....... ............
Via Clnolnnati
Via other routes, <fco
26
46
"ioo
13,308
34fi
2,842
104,901
30,435
179.323
6,827
569
2.188
644,355
184,594
i!,998
1,848
28,887
118,664
30,996
239,235
773
4,863
15,128 1,014,395 27,696!l.24S 07n
Deduct thiptaenU—
Overland to N. Y., Boston, Ac.
Between Interior to-WTiB
Inland, <Sm5., from Boatb.. ........
3,241
38
2,424
63,789
29,289
67,525
4,463
18
166,415
36,581
767
42,lti0
Total to be dedaoted. ..........
5,703
160,603
5.248
24ft. 1HH
n.425
Leavinj? total net overland*...
Isoladlntr moTwinent by rail to Oanada.
17,100 bales added as oorreotlon.
S*- 3.792
•
1
22.44«'l,002.H93
TLe foregoing shov/e that the week's net overland movement
year has been 9,425 baids, tigaloai 22,448 baleEi for the
week in 1903, and that for the season to date the asrgroerate net
overland <»xhibifpa dftcreas** from » t"»a' +o"- '^*' 149.101 ^ales.
ttiii
Receipts at ports Ko Mob- 25.
Net overland to Mcb 25
Sontbem ooneumption to Uob 25.
Total marketed
,
Interior etooka in excess.
Came into
Mar.
Mar.
1900 Mar.
18..9-Mar.
19;>1
Mob
21
Balen.
28
29
80
81
—
51.088
lowest
132,636
18,998,919
1.925,06-2'
9.301,207
S3.O70 1 .778
M'jvement into sight in previous years,
1902
aging 70.
Helena, Arkansas. Fine farming weather. We have had
rain on two days during the week, the rainfall reaching one
Inch and forty-three hundredths. Thermometer has averaged 64, the highest being 81 and the lowest 47.
Little Rock, Arkansas,— Fskrmera are well advanced with
plowing. There has been rain on four days the past week,
the precipitation being one inch and forty hundredths.
itiu:<-03
slgbt dnrlne; week.. 100,650
Wuk—
—
i
Total In slgbt Mcb. 25
Nortb'n eplnnere' tak'irB to
* Decrease daring week.
—
Average thermometer 64, highest 80, lowest 49.
Memphis, rer»ne.9see.— Plowing delayed by rain. We have
Since
Since
had rain on five days during the week, the rainfall being
Week. Sept. 1.
Week. Sept. 1.
one inch and nineteen hundredths.
The thermometer has
64,442'6,645.4&4' 97,04«6,8I5 225 averaged 53'4, ranging from 44 6 to 81.
9,4261 »53,792j 22,4481.002,893
Montgomery, Alabami. —Excellent progress is being made
4'^,000 1,209,000 41,000 i,205,000
by farmers. It has rained lightly on three days of the week,
llS,ft67 8,708. 27eil«0,4.94 9,123,1 IS the precipitation being thirteen hundredths of an inch.
The
'15,217 288,6431*27.808
79,089 the:mometer has averaged 70, the highest being 85 and the
1908-04
In Sight and Spinner
Takingt.
54.
Texas,— We have had no rain during the week.
The thermometer has ranged from 36 to 90, averaging 63.
New Orleans, Louisiana, There has been rain on one day
during the week, ihe rainfall reaching thirty-seven hundredths of an incd. The thermometer has averaged 73.
Shreveport, Louisiana,— Hiin has fallen on four days
during the week, to the extent of ninety-one hundredths of
an inch. Average thermometer 67, highest 84, lowest 51.
Columbun, Mississippi.— There has been rain on four days
during the week, the precipitation being fifty-seven hundredths of an inch. The thermometer has averaged 65, the
highest being 75 and the lowest 55.
Leland, Mississippi. There has been rain during the week,
the precipitation being one inch and twenty-five hundredths.
The thermometer has averaeed 72-7, ranging from 47 to 80.
Vickshurg, Mississippi. We have had rain on two days the
past week, the rainfall being two inches and fifty-two hundredths. The thermometer has ranged from 54 to 83, averAbilene,
follows.
190id-03
V903-04.
March
week ending the lowest
113,842
121,424
99,907
165,844
|
I
I
1
Since Sept.
1—
1901-02-Mar.
1900-01-Mar.
1899-00-Mar.
1898-99-Mar.
28
29
30
31
,..
9,206,672
8,827 468
8
—The weather in
the interior has been
farm work has made good progress.
097 Cotton plauting has commenced in some sections. There
has been rain on three days of the week, the precipitation
reaching thirty- eight hundredths of an inch. Average ther-
Baitt.
„
55.
Mobile, Alabama,
very favorable and
1ir9e4
9 gssioil
mometer
68, highest 77,
lowest
56.
Madison, Florida.—There has been no rain during the
week. Thermometer has ranged from 66 to 92, averaging 70.
Augusta, Oeorgia.—R&in has fallen on four days of the
Mar.
THE CHRONICLE.
26. 1904.]
week, the rainfall reaching two inches and forty-four hundredths. Average thermomer 64, highest 81, lowest 45.
Savannah, Oeorgia. There has been rain on three days of
the week, the precipitation reaching seventy-nine hundredths
of an inch. The thermometer has averaged 68, the highest
—
being 82 and the lowest 56.
Stateburg, South Carolina. Corn planting is proj^ressing
and cotton planting will soon follow. Rain on four days
during the week, heavy on Wednesday night with sharp
thunder, the rainfall being one inch and seventy-three hundredths, Average thermometer 64-5, highest 83, lowest 46.
It has rained during the
Cfreentcood, South Carolina.
week, the precipitation being thirty-two hundredths of an
—
—
inch.
The thermometer has averaged
61.
We
Charleston, South Carolina.—
have had rain four days
during the week. The rainfall reached seventy- two hundredths of an inch. The thermometer has ranged from 53 to
77,
averaging
65.
The following statement we have also received by telegraph
showing the height of the rivers at the noints named, at
8 A'niock March 24 1904. and March 26. 1903.
MeiiI. 24, '04.
.Above lero of gauge.
.Above sero ot gaage.
IOdw Orleans^.^.
Msmpbls....^ ..^
Above zero of g»age.
Above »ero of g«nge.
Above sero of gaage.
KMhvlIle
ahreyeport..^
-..„
violrxhnrg
Meh
26. '03.
t.
Receipts
at—
Bombay.
85 000 1,309.000
For
Great
Britain.
25-2
27-9
885
95
32 3
New York Cotton Exchange.—D. J. Sully & Co.' a Affairs,
—On Saturday last Messrs. D J. Sully & Co. made an assign-
19-fi
51-8
1901-02.
Since
Week.
Sept. 1.
88.000 1.575000
Sept. 1.
63 000 l,56f,000
Since September
1.
Continent.
Total.
31,000
72,000
9,000
38,000
73,000
9,000
50,000
28,000
507,000
2,000
231.000
657,000
487.000
233,000
'.'.'.'.v.
2,000
S.OOO
3,000
2.000
3,000
3,000
3,000
3,000
1,000
12,000
20,000
12,000
15,000
23,000
13,000
I'.boo
I'.odo
2^000
8,000
4.000
1,000
25,000
9,000
5,000
•••
"""
4.000
2,000
4,000
2,000
4,000
13,000
1,000
64.000
39.000
46 OOO
7,000
2,000
87,900
78,000
1 2.0O0
44,000
80.000
12.000
65,000
48.000
5.000
608,000
527,000
294.000
Chreat
Continent.
Britain.
Total.
Bombay—
1903 04..
7,000
1,000
1902-03..
1901-02..
459,1)00
CaloQtta—
1903-04-.
1902 03..
1901-02..
Madras—
1903-04..
1902-03..
1901-02..
All others—
1903-04..
1902 03..
1901-02..
Total
190102..
ment
to Mr. Joseph E. Hoadley as assignee, the step being
hurriedly taken after knowledge had reached the firm that
an attachment against certain margins had been applied for.
At a conference between Mr. Sally and a committee of
creditors on Monday a proposition of settlement was submitted by him, but it did not meet the approval of some of
them, and on the following day a petition in bankruptcy
was filed against the firm. Concurrent with the bankruptcy
petition an application was made in the United States
DiBtriot Court for the appointment of receivers to take
charge of the affairs of the firm, and David H. Miller and
Henry W. Taft were appointed.
Change in Commission Laws.— On Thursday the members
of the Exchange, by a vote of 83 to 37, decided to change
the present commission laws, and on the proposition fixing
the new scale the following rates were adopted by a vote of
60 to 37: For round transaction to menibers, $6 35; for round
transaction to members outside of United States, |10; for
round transaction to non-members, |13 60; for floor brokerage, 75 cents; for clearing each way, 75 cents; the changing
price remains as heretofore.
New Member*,— John H. Inman, of New York, and A. P.
Loveman, of A. P. Loveman &, Co., Tuscaloosa, Ala., have
33,000 been elected to membership in the Exchange.
13,000
Exports of Cotton Goods from Great Britain.— Below
6,000
we give the exports of cotton yarn, goods, &c., from Qreat
68,000
52.000 Britain for the month of February and since October 1 in
47 ooo 1908-04 and 1902-03, as compiled by us from the British Board
of Trade returns.
It will be noticed that we have reduced
aU-
1903 04..
1902-03..
homa, 186,589; South Carolina, 787,426; Tennessee, 248,996; Texas.
2,471.081; Virginia, 13,074.
Exports
from—
1
20-3
844
the Week.
for 1902.
The crop, exclusive of linters, in the United States is distributed as
follows : 10,205,073 commercial baleB, 9.359,472 square bales, 770,208 round bales and 75,398 Sea loland bales.
The total crop reduced to a common basis as to size of bales is an
equivalent ot 9,861,120 500-pound bales, as against 10,630.945 800ponnd bales in 1902, The number of bales, oonnting round as half
bales, including linters, was 10,014,454, as against 10.784,473; the
equivalent bales of a 600-ponnd standard, inolufiing lint«r8, were 10,045,614, against 10,827,168 in 1902. The fquare bales, upland crop,
reported from ginneries, which aggregated 9,359,472, shows a decrease of e33,l»c< from 1902; the round bales, upland crop, reported
tromglnnerles were 770,208, a decrease of 211,056; the bales of Sea
Island cotton reported from ginneries were 75,398, a decrease of 29,560, and the bales ot linters reported from cotton-seed oil mills were
194,485, a decrease of 1.738.
The following are the totals by States : Alabama, 938,221 bales;
Arkansas, 734,593; Florida, 52,38«; Georgia, 1,267.364; ndlan Territory, 278,347; Kansas, 75; Kentucky. b97; Louisiana, 824,985; Mississippi, 1,432,796; Missouri, 37.813; North Carolina. 528.707; Okla-
110
Since
WeeJc.
Sept. 1.
:
Feet.
1908-03.
Since
WeeJc.
Census Bureau's Report on CoTTON-QiNNiNa.— The Division of Manufactures in the Census Bureau completed and
issued on March 25 the fifth of its series of reports on cottonginning the present season as follows:
The final report of the Census Bureau on ootton-glnning. showing
the total cotton production for 1903, gives the following Number of
commercial bales. Including Unters, 10,399,558, against 11,275,105
F*et.
India Cotton Movement from all Poets.— The receipts
of cotton at Bombay and the shipments from all India ports
for the woek ending Mch. 34, and for the season from Sept, 1
to Mch. 34 for three years have been as followp.
1903-04.
1231
673,000
575,yoo
299 000
the
movement
all to
pounds.
TarrtAThreadL.
latalotSXl.
Cloth.
000« omitted.
ALEXANDRIA RECEIPTS AND SHIPMENTS OF COTTON.—
Through arrangements we made with Messrs. Choremi,
Benachi & Co., of Alexandria, we now receive a weekly
oable of the movements of ootton at Alexandria, Egypt.
The following are the receipts and shipments for the
past week and for the corresponding week of the previous
two years.
Alexandria, Egypt
March 23
Receipt* (oantars)*—
This week
Since Sept. 1
1902-03.
1903-04.
27,000
8,643.289
70,000
6.203.495
This
week.
Since
1901-02.
This
week.
60.000
6,267 043
This
week.
Since
1903-0* 1902-08
1902-03 1908-04 1902-OS
1908-04
~LbtT
Lbt.
74.848 84.28^
69.795 80.664
77,829 83,944
Lbt.
90,146
U5,9Ut
99,627
Tot.l8t qnar
47,173
51.110 1.196,496 1,311.891 322,472 848.387
269.647
299,997
Jannarr
February
16.367
17.015
17.864
16.647
88.933
101.62*
106.197
86.C91
106,508
102,688
Stocklnffa and
Nnnkii
October
November...
December
.
.
1903-0«
Lbt.
16.898
17,886
402.640
18.707
18.073
18,170
16.683
376,868
418.678
Lbs.
Yit.
458,143
481,476
YdLi.
444.088
424,934
448.269
476.896
463.016
86.167
69.491
Sundry artlol
Total
e3cp<)rt8
Of <sotton Eaanufact ares
88,60>
1902-03
Lbs.
101,644
98.726
308
891
15,52b
16 263
493.eC6
624.488
Since
Tlie foregoing shows that there has been exported from the
United Kingdom during the four months 493,606,000 lbs.
To Liverpool
3,924 168,294 of manufactured cotton, against 534,486,000 lbs. last year,
4,616 177,437
4,000 182,078
To Manchester
97,003
111.617
4,118 1 26,009
To Continent
5,067 239,767 4,489 292.602 or a decrease of c 0,880,000 lbs.
10,250 2.'i2,426
A further matter of interest is the destination of these
To America.........
500 41,657
843 71,028 2,015 82,757
exports, and we have therefore prepared the following
Total exports .... 14750 587,678 14.643 614,241 10,428 635,666
statements, showing the amounts taken by the principal
* A cantor Is 98 poands.
countries during February and since October 1 in each of
Maj^ohester Market. Our report received by cable the last three years.
to-night from Manchester states that the market continues BXPORTS OK PIBOB QOOD8 AND TA.BNS TO PBIMOIPAL OODMTRIEB IM
quiet for both yarns and shirtings. Manufacturers are aenFEBRDARV AND FROM OCTOBKR 1 TO I'BBRUARY 29.
erally complaining.
We give the prices for to-day below
Oct. 1 to Ftb. 29.
february.
Pi«e« QooAt—Tarit.
ana leave those for previous weeks of this and last year for
(OOOf omitted.)
1908-03
1901-03
comparison.
1908.
1904.
1903.
1908-Ot
Exports (bales)—
Sept. 1.
Sept. 1.
Sept. 1.
—
1903
1904.
Sk
Twist.
8I4
lbs. Shirl- Oott'n
328 Cop. ings,
common
to finest.
lbs. Shirt-
Cott'n
Hid. 32« Oop. mgs, common Vfirf.
Twist.
Uplds
to finest.
Uplds
Hast Indies
Turkey, UKypt and Africa..
China and J apan
<farope (except Turkey)
joath America
Mortta
Vll
d
d.
S.
Fb. 19 10ist»10SI» 6
'•
26 10i«,»10^ 6
Mar. 4 lOBsaii
6
•'
11 ni« »ii»fl 6
" 18 lo'awii'^ 6
" 25 10^9
6
im
d.
B.
d.
d.
d.
d.
a.
d.
B.
d
111 5-38
,
America
other ooantrlei
d.
4409 1^ 7-28 7«8 «888 5 6 08
540
4is09 lis 7-62 7i3iet»8H 5 7 «8 3
5*»2
8-32 7% 0838 5 6 «8 2
9 «9 6
8-78 7% -09^ 5 6^98 14 630
9 «9 9
8 »9 7ifl 824 7lit8'»8^ 5 5»i»8 li« 6'40
Tli 7H,«»»8B,«6 5 W8 l^* 5-34
6 99 6
Jute Butts, Bagging, &c.— The market for jute bagging
has been featureless the past week. Transactions have been
practically nil and prices unchanged at 6^^c. for 1% Iba. and
Jute butts very dull at
6J^c. for 2 lbs., standard grades.
iH@l%c. for paper quality and 2@3i^c. for bagging quality.
Total yards.
Total ralne.
221,4H8
70.K02
56.H«1
H9.H81
4«,e67
27,068
ai 6t!i
189,814
U84.387
oU.Sfll
8.S5..H83
77.441
V9.«;4
S'.IIW
81«.^67
1^4,674
2«9,7«rt
;n7.KHrt
1^6.0(13
ai-.'i.tfO'S
ieO,8«U
149.1)61
199.M4U
i4w.9>0
mri.776
182.4H6
2H.H73
149.746
14l<.-18
itiu.ioe
996,019 1,006.408
401.133 4il,UlH
481. «7H 46H.ri6 489.7S1 2,18H,11»' 8,84H.H76 3,384,696
15,3b0
£4.814
lL«.S6lt
£33,776
A38,4Sl
£93.993
2,817
»,8V1
9.H1A
2,0>7
1,984
2,319
)t,og«
8.7rt8
2,(166
862
11.878
lO.HtS
11,402
14.3*9
8.670
10.981
8.2!^6
13.288
l«.-6h
9.727
1I.K98
Tarnt—Lbi.
(OOOf omitttd.)
Jolland
Germany
Oth. Bnropa (except Tarkey)
fast Indies
;;blnaand Japan
Tnrkey and Kxypt
All
other ooantrles
Total lbs
Total Talne..
8.S0S
U,7H3
413
1.4(12
1
1.808
1.71i8
l,9<:i
(1,900
1.8H>!
1.974
1.4U8
B.261
lo.t-oa
I0.2!a7
14,857
EHdO
18,R46
i«ai
14,0H7
a'<,i84
7 1.6X0
J!«7
jBS.rt.'<«
12&66
11.684
16,.1H0
«.
95
74,987
.
J
THE CHRONICLE.
232
East India Crop.— The fiual general memorandum oq
the cotton crop f Jr 1908-04 wa^^ issued under drtte of Calcutta
February 18, being In part as follows
:
Thin nienjoranilum re>l»tt»« to the late cotton crop
crop UK fltmlly rt>port«'il lu Bonibity, 81nd. Maitran, the NliaiuV T-trrltory Unruia, AHgaiii and Myiior(«, and Inolndes complete lUaren re
RaJimtana and Central India after the
i>«i\-<>il from certain 8t»tt>s In
In BenKftl. totlie
mouiorandom had b«»cn Issued.
Tho area niidor cotton of 17.670, HOO acres (InoludlnR a rougU and
third
the zaniludarl area of
Madras) i* more than a million acres larKer than the corrected area of
i-.i
..nr, which wat then th'< highest retnrned; and If those tracts be
for which returns have now been made for the tlrst time, the
!.<
880,000 acres In the a^Kre^att^, although there was a
•hrliikaK^ »' u^*''ly *00,000 aorea lnth«Uni:e4 Provinces caused by
the late arrival of the monsoon. The crop In the United Provinces
and Kcrar al»o mistalued sertoas daniak;e from excesnlve rain lu the
latter I'art of the seiiBon, and the yield In the Central Provinces and
Hyderabad was Ukrtwlse considerably diminished thereby; so
aitliouKh the Reason was elsewhere ^euerally favorable, the estimated
total yield for this season (excluding the returns from Assam and
Mysore whk h did not report last year) la approximately the same as
for the la«t season. For reasons, however, which were stated lu the
thirl memorandum Issned In December lai^t, the yield lu Berar
appt^ars to have been underestimated by about 160,000 bales, while
on the other hand the outturn of the Central Provinces Is perhaps
exaggerated.
iDCoiiiplfie
(>(itliiiat«
of l'2l,S00 acres for
1
1
apoL
Sat'day.
Monday
Market,
9t,
\
12:30 p .U.\
Qalct.
Firmer.
Mid. Upl'dfl.
7 74
810
7-84
764
7 84
772
5,000
8,000
6,000
6,000
6.000
600
600
200
6.000
600
800
800
Sales
Spec.
<&
exp.
Total baUi.
Kiw York— To Liverpool, per eteamers Cedrlo, 8.... Victor1,597
ian. 1.521 up'and and 68 8ea Island
160
To Marseilles, per steamer PeruKla, 160
191
To Bremen, per steamer Main, 191
500
To Antwerp, per steamer British Empire, 500
885
To Barcelona, per steamer Baenos Aires. 885
949
To Genoa, per steamer Hohenzollern, 949
Liverpool— March 23— fitr. Wm. Cliff, 3,000
8,100
March 24-Steamer Dictator, 5,100
2,966
To Ix)ndon -March 21 -Steamer Asian, 2,966
22,7-54
To Bremen-March 19 -Steamer MUwaufeee, 22,754
Galveston To Liverpool— March 21-8W. Wanderer, 2,973... 2,973
1,268
To London— March 22 steamer Cayo Bomano, 1,268
To Manchester-March 25 -Steamer Ramon de Larrinaga.
Hiw ORLEANS-To
2,896
8,433
8,351
2.896
To Bremen-March 19 Steamer Koln, 8.43:?
To Genoa-March 22-8teamer Sloanla, 8,351
To Venice— March 23-8teamer Clara, 717
Pe58acoi^— To Liverpool-March 17— Steamer Alloia (addi-
717
100.
113
lOJ
BosTOM To Liverpool- March 19-8teamer Sagamore, 25....
March 20-8teamer Devonian. 405
To .Manchester— March 18 -Steamer Iberian, 676
To Yarmouth -Marsh 16 and 21— 8t«amer Boston, 157
Balximorb— To Bremen— March 16— Steamer Breslau, 200
PHiLADELJ"HiA—To Liverpool -Moh. >9—8tr. Haverford, 962..
Sas Frakoiboo— Xo Guatemala— March 19 8tr. San Jaan, 50.
430
676
157
200
962
50
tional).
113
Savannah— To Rotterdam -March 25— Steamer Z-eburg,
TotaL
65,398
The particulars of the foregoing shipments for the week
arranged in our usual form, are as follows.
Oreat Fretieh Oer- ,—Oth.E'rope—^ Mexico,
ports, many. North. South,
dc. Japan, Total.
191
160
500 1.804
New York. 1,697
4,262
22,754
N. Orleans 11,060
33.820
Galveston.
8.433
7,187
9,0^8
24.638
113
Pensacola.
113
......
Brit'n.
Savannah
......
Boston
Baltimore
100
100
157
1,106
1.263
200
Phli'delp'a
962
San Fran..
......
......
......
160 31,578
Total.... 21,981
......
50
600 10,872
207
......
The exports to Japan since Sept,
Coast.
Cotton freights at New
......
have been
1
200
962
50
65,398
39,317 bales
froDD Che Pacific
York the past week have been
as follows.
Batur.
Hon
Tutu.
Wtdntt. ThuTM,
Fri.
12
12
10® 12 10® 12
14
14
14
14
Havre
c. 22i«-25 22>fl-25 221^-25 22ifl-25 221^-25 20®25
Bremen
20
.....c.
20
20
20
20
20
Bamburg
e. 20-22it 20-221^ 20-22 ifl 20-221* 20-22ifi
20
9hent
21
SI
21
.......e.
SI
21
21
AJitwerp
c.
15
15
15
15
15
15
Reval, lndlreet..e.
23
28
28
28
28
28
Beval, via Canal.c,
85
85
35
35
85
35
Baroel'na.lBd'r't.c.
20
20
20
20
20
20
Senoa...
e.
16
15
15
15
15
15
rrleste, asked. ..e. 25W27
25987 25927 25 927 25927 25927
lapan (via Suez). c.
50
50
50
50
50
60
Qautatione are cents per 100 lbs.
LrvEEPOOL,— By cable from Liverpool we have the following
statement of the week's sales, stocks, &c., at that port.
Liverpool
e.
Manchester
c.
12
14
12
14
Mch. 4
Bales of the
week
bales.
Of which exporters took. ..
Of which speculators took.
Sales American
A.ofaal export
Forwarded
rotal stock—Estimated
Of which American—Est'd.
rotal Import of the week
Of which American....
Amount
afloat
Of which American
The tone
52.ou(;
2,000
2.000
44,000
11,000
53,000
591,000
518,000
45,000
36,000
161,000
li4.ono
Mch. 11
52,UO\
1,000
2,000
48,00(
8,00C
47,00(
Mch 18
39,<<u(
2,000
5:^8,00C
34,00<
5,000
60,00<
671,001
505,00C
52,000
34,000
159,000
105,000
496,00(
37,0C(
24,00<
168,00(
107.00f
Mch. 25
33.000
1,000
29,0'ju
11,00^*
57,000
576,000
4^*7,000
72,000
51,000
147,000
85,000
Tuesday. Wed'day
Quiet.
Thursd'y Friday.
Quiet.
Qnlet.
Qalet.
Puturet.
I
-teadj at Unsettled i^teadr at f^feady at ateady at Steady at
33eil pt8.18dai pta. lH<a21 pte. lOv^U pti. lUOZI Pti. 406 pts.
decline.
advance.
deollne.
decline. tdvanoe.
decline.
Market,
4 p. M.
I
I
I
The
prices of futures at Liverpool for each day are given
Prices are on the basis of Uplands, Good Ordinary
clause, unless otherwise stated,
fST The prices are given in pence and 100<*. Thus: 743 means
7 43-lOOd.
below.
Sae.
Mch. 19
nion.
Mch 21
Taea.
Mch. 22
W«d. Thnrs.
Mch. 23
Mch. 24
Fri.
Meh. 25.
12ifl
4 12ifl 4 12i« 4 12>fl 4 12)« 4 ISifl 1
P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.K.
d.
d.
d.
7 43 7 43 7
Moh.- April.. 7 40 7 41 7
April-May .. 7 40 7 39 7
May- June... 7 40 7 38 7
June-July . 7 40 7 86 7
Jtily-Ang.... 7 30 7 33 7
A.uK.-8ept... 7 13 7 12 7
6 50 6 49 6
Sept. -Got
6 26 6 19 6
Oot.-Nov
Nov.-Deo.... 6 16 6 10 6
Marob
d.
84
82
80
79
76
73
52
79
44
31
d.
d.
7 65 7 58 7
7 63 7 55 7
7 61 7 63 7
7 59 7 61 7
7 57
7 54
7 36
6 70
6 38
6 28
7 49 7
7 46 7
7 26 7
6 60 6
6 29 6
6 19 6
d.
47 7 39
44 7 36
41 7 83
88 7 31
37 7 29
34 7 26
If 7 07
61 6 40
20 6 09
10 5 99
d.
d.
d.
d.
d.
7 37 7 59 7 59 7 47 7
7 34 7 56 7 56 7 4.4 7
731 7 53 7 63 7 41 7
7 29 7 51 7 61 7 38 7
7 27 7 49 7 49 7 36 7
7 24 7 45 7 45 7
7 04 7 24 7 25 7
6 37 6 54 6 55 6
6 07 6 24 6 23 6
5 97 6 14 6 13 6
88
18
44
12
02
7
7
6
6
6
55
52
49
47
45
41
21
50
19
09
Dec.-Jan....
J an, -Feb
...
• «••
•
....
•
B*»
....
....
....
•vaa
««••
<•«*•
>•••
BREADSTUFFS.
Friday, March
A dragging market has been
35, 1904.
experienced for wheat flour,
buyers and sellers being apart in their ideas of values. The
former have been naming lower prices, believing that they
should be able to obtain supplies at a cheaper cost owing to
the recent declines in the speculative wQeat market. Millers,
however, pciited to the comparatively limited supplies and
relatively high cost of good milling grades of wheat, and
have held for full values. City mills have been quiet. Rye
fljur has been in moderate jobbing demand and steady,
(Jorn meal has been quiet and easier.
Speculation in wheat for future delivery has been moderately active. Daring the fore part of the week there was an
easier tone to the market and fractional losses occurred in
prices.
The weather news from the winter-wheat belt continued favorable for the growing crop, and this prompted
continued selling for the account of speculati<re holders to
liquidate their accounts. Statistical developments reported
at the opening of the week were of a bearish nature and
this, too, had its influence against the market.
The world's
exports to the European importing ports for last week
showed up large and were refl icted in an Increase in the
supplv of wheat afloat for Europe. Advices received from
the Northwestern markets reported that some of the mills
were contemplating going on short time, owing to an unsatisfactory demand for flour. Thursday the market turned
stronger.
Predictions of decidedly colder weather started
buying for the account of shorts. Receipts at the primary
markets werd running small and foreign markets showed an
advancing tendency. The spot market has been firm but
quiet. To-day the market was firmer on reports of severe
weather and stronger foreign advices. The spot market was
firmer but quiet.
DAXLT CLOSINO PBI0E8OF WHBAT FCTUBE8 IH NEIT
Sat
Mon. Tues.
Wed. Thurs.
Fri.
101
No.2red winter, f.o.b... 102
104
103
106
108
96^4
May delivery In elev
98
97
96^
95%
9%^
92i8
93i8
July delivery In elev
92
9138
921*
92H
85J«
8378
8388
84
Sept. delivery in elev.... 83%
85*8
DAILT OLOSmO PBICBS OF WHEAT FUTUKE8 IN CHICAGO.
Mon.
Sat.
Tues.
Wed. Thurs.
Fri.
93J4
May delivery In elev
92
92
92%
94
96
86i«
86ie
July deliv. meiev., new. 8788
87
87^
85?i
SOSs
8078
8236
81
Sept. dellv. In elev.. new. 81>s
82%
YOKK.
Indian corn futures have been quiet in the local market,
but in the West there has been a fair amount of activity to
the trading. Early in the week prices advanced. Ofiferings
were reported light and a decreasing movement of the crop
had a strengthening inflaence. Subeeqnently, however, the
market turned weaker. There developed a limited amount
of pressure from speculative holiers of May to liquidate long
contracts. The movement of the crop showed a fair increase and was refl -scted in increasing stocks at the primary
markets. The cash demand continued light. Busioec'S in
the spot markets here and at outports has been quiet, the
demand frcm exporters being ligbtj; but prices have held
about steady. To-day the market was firmer on unfavorable
weather which was retarding the crop movement. The spot
market was firm and higher.
DAILY OLOBINO PBI0E8 OF NO. 2 HIXXD CORN IN
YORK.
Mon. Tues.
Wed. Thurs.
Sat.
Fn.
market for spots and futures
each day of the week ending Mch. 25 and the daily closing Cash oorn f. o, b
May delivery in eler
prices of spot cottouj have been as follows.
July deUvery In elev
of the Liverpool
,
Bxclted, Irree. at
Steady, steady at Bxclted at Qnlet at
Market
lO&H pts. 12aw pts. nnch. to li^lS pt* 2i(S2t) pts. 1(38 pts.
opened:i decline,
advanoe. 8 pts. adv. deollne. advance,
decline.
—
Shippctq News, As shown on a previous page, the
exports of cotton from the United States the past week have
reached 65,398 bales. The shipments in detail, as made up
from mall and telegraphic returns, are aa follows:
[Vol. Lxxviii.
NEW
68>«
59
b»^
58»fl
88»«
57
58ie
5539
57»4
54»8
567^
5458
^7^
8458
65
69>«
58>4
65»«
Mar.
TFiK (HIRONICLE.
26, 1904.]
DAILY CL08INQ PBICB8 OF NO. 2 MECBD COBK DC CHICAGO.
Hon, Tuea.
8at.
Wed. Thur$.
Fri.
52''8
62
52%
62
5238
58
lay delivery In elev
uly delivery In elev
delivery in elev....
60k
SOBs
49s(i
4939
49i«
50ie
48"'8
49>«
iS's
50
49
4958
Oats for future delivery at the Western market have been
airly active, but at declining prices. Country elevators have
)een reported turning out increased supplies of contract
Speculative
rrades, and the cash demand has been quiet.
lolders have been moderate sellers to liquidate long contracts,
ind there has been only an indifferent demand to absorb the
Weather conditions Jhave been favorable for crop
ifferings.
vork and an increased acreage is indicated. Locally the
pot market has been quiet and easier. To- day there was a
lept.
irmer market.
DAILY CLOSING FHI0B8 OF OATS IN NEXT YORK.
Tues,
Wed. Tkurs.
Hon.
Bat.
Fri.
46ifl
47
46ifl
46
471s
47>a
Jo. 2 mixed in elev
48J«
48J«
4713
48
47
471a
io. 2 white in elev
DAILY OLOBINO FBI0E8 OF NO 2 idXBD OATS IN CHICAGO.
Wed.
Thur$.
Mon. Tuet.
Sat.
Fri
3914
3916
39 18
40
40ifl
38%
lay delivery in elev
ruly delivery in elev
—
38'^8
38%
33^
37%
37Bb
37i«
87%
31ifl
32
3188
quotations:
closing
the
Following are
FLOVB.
Patent, winter
$5 25 -as
Nominal.
rine. ...,..«
Olty mills, patent. 5 30 '36
Nominal.
loperflne
Rye floor, superfine 4 35 '94
Nominal.
Sxtra, No. 2
Baokwheat floor.. Nominal.
$3 90 -34 00
extra. No. 1
Com meal—
4 40 ®5 00
;iear8
Western, etc
3 10 id
4 90 '»5 25
Itralghts
Brandywlne
3 10 'tis
5 30 '36 00
'atent, spring
lept.
delivery in elev
^eat, per bosh—
N.Dal.,No.l
33H
c.
OBAIH.
Ck>m, per bosh—
o.
f.o.b.l06ie
f.o.b.lOO
f.o.b.l08
N'tliem Man., No.2.
Bed winter. No. 3..
Hard winter. No. 2.
)atB—Mixed, p. bosh.
99ie
45ia®48ifl
46>s'»53
46 '»47
47 '948
f.o.b.
Wblte
No. 2mixed..
No. 2 white
Western mixed
No. 2 mixed
No. 2 yellow
No. 2 white
Bye, per boshWestern
0.
52
f.
50
00
80
15
0.
'959>«
0. b.59ifl
t. o.
h.ae
f. 0.
b.54%
76
'©80
Nom'l.
State and Jersey...
Barley—West
Feeding
3m
62 967
54 o57
Exports of Grain and Flonr from Facifle Ports.— The
ixports of grain and flour from Pacific ports for the week
inding March 24, as received by telegraph have been as
bllows: From San Francisco to United Kinadom, 100,000
mshels barley, and to Chiaa, 22,548 bbis. fl)nr; f rem Portand to United Kingdom, 133,000 bushels wheat.
Combining these figures with those for previous weeks, we
lave the following, which covers the exports to foreign
iountries for the period since July 1, 1908, comparison being
nade with the corresponding period of 1902-03.
Rye,
Barley,
oats.
Corn,
Wfieat,
Flour,
Mi^orts
bush.
bush.
bush.
bugh.
bush.
bbls.
from
1,078
471
5,200 7,290,620
Ian Fran. 628,199 1,431,667
344
85.894 370,179 4M,660
»uget8'd.l.600,000 1,443,800
994,000
>ortland.. 786,700 2,693,000
—
TotaL... 2,864,899 5,568,467
'02-3.2.541.731 22,388,332
Pot.
36,366
29,704
1,422
375,379 8,736,280
923.090 7,801.815 214.865
1233
is steady, with about an average
for the time of year coming forward.
1904.
Since Jan.
18
58
238
392
Great Britain
Otber Baropean. ...... ......
Week.
3,374
18.416
3,061
698
410
154
148
874
68
1,694
58,695
13,660
South America..............
Other Ooantrles
82,708
4,914
10,760
2,287
7,562
4,336
562
522
2,674
14,956
1,861
128,647
The value of these New York exports since Jan. 1 has been
$3,081,431 in 1904, against $5,150,018 In 1908.
There are sellers of heavy brown sheetings and drills at
lower prices than a week ago, some limits being dropped J^3.
per yard from previous high level. The demand, however,
continues very quiet from the home trade, with nothing of
any account doing for export. In denims, tickings, plaids
and other coarse, colored cottons, prices are without material change; the demand is quiet but stocks on hand are
small in the aggregate. Ducks also are unchanged in price,
with sales of limited qiantities. But a moderate movement
is reported in bleached cottons.
These are in good shape in
first hands and steady in price.
Wide sheetings, sheets and
pillow cases are firm, being generally well sold up. Cotton
flannels and blankets are quiet at previous prices. Printed
calicoes continue slow in both staple lines and fancies, but
stocks are not accumulating to any extent, and such as are
on hand are firmly held at previous prices. In fine printed
fabrics the market shows some irregularity at both first and
second hands. A quiet business is passing in ginghams in a
firm market. Print cloths have not changed from 4c. for
regulars, a moderate business having been done thereat this
week. Odds are quiet, with slight irregularity in some
counts.
Foreign Dry Goods.— Fine grades of fancy dress goods
are in fair request and steady in price. Piece silks are in
quiet demand; outside of a few lines of fancies, prices are
steady. Ribbons are quiet at previous prices. Linens are
tending upwards, with moderate sales. Burlaps are firm
with fair demand for near deliveries.
Importations and W^arebonse Withdrawals of Dry Goods
The importations and warehouse withdrawals of dry goods
at this port for the week ending March 24, 1904, and since
January 1, 1904, and for the oorresponding periods of last
year are as follows:
* M
25, 1904.
factory.
Woolen Goods —The demand for men's- wear woolens and
worsteds this week has been on a very limited scale. Only
from salesI few buyers have been in the market, and orders
a few
than
more
Hen on the road have seldom covered
such
'There is nothing
nieces for individual purchasers.
jusiness as this to indicate what direction the supplementary
lemand, when it develops, is likely to take, and such sellers
position.
ls are still short of orders are in a very uDoertain
work
of
out
thrown
being
Chere are reports of machinery
return
poth woolen and worsted mills, and unless the
quanconsiderable
a
nsiness should come earlier than usual,
Sellers are not making
ity is likely to be idle before long.
ay material changes in their prices, as with buyers in their
resent humor there would be little use in doing so. Overmtlngs and cloakings have been in moderate request at
revlous prices. Tee general tone of the market tor dresj
t
m
m
»:
B
;
p
:
.
i
,
,
•
i
.
•
a
o
^
CD
far,
30tton or eliminating the necessity for caution in operaAgents here report that some of
tions in the goods market.
their mills have been buying raw material this week, but
Cew instances are recorded of the resumption of work by
previously idle machinery. It is evident that both sellers
and buyers are, as a rule, determined to await further developments before committing themselves to any extent to forward obligations. Bayers have not changed the character
of their demand,* refusing to be tempted even where lower
prices than laet week have been open to them, and business
at first hands continues on a decidedly moderate scale. From
the woolen-goods division reports are of an indifferent business in men's wear fabrics and a quiet market for dress goods.
Trade with jobbers has not been up to expectations, but an
Improvement is looked for with the milder weather which
aow appears to have set in. Collections are generally satis-
1.
462
317
17
7
6,640
268
12
868
97
282
660
204
Africa ........ ................
West Indies
Mexioo. ....... ..............
Central Amerloa
Since Jan.
h
been any sign of the failure of D, J.
Sally & Co. materially changing the situation in the ootton'oods market. It is true that some sellers have shown a
jvillingness to accept business at somewhat lower prices than
they had previously held for on goods to be made, but this is
Qot general. The trade as a whole looks upon the disappearance of Sully as by no means settling the future course of
There has not, so
1.
19,732
8,479
7,856
1,856
4,729
India
Arabia
Total
1903.
Week.
China
THE DRY GOODS TRADE.
York, Friday, P. M., March
of business
Domestic Cotton Goods.—The exports of cotton goods
from this port for the week ending March 21 were 1,694
packages, valued at |109,786, their destination being to the
points specified in the tables below
For other tables nanallr slven here see pase 1404.
New
amount
goods
p
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•
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•
;
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——
——
—
THE CHRONICLE.
V2:U
I
Vol. lxxviu.
(with privilege of registration) water bonds. DenominaDate, April 1, 1904. Interest semiannually at
the United States Mortgage & Trust Co., New York City,
which company will certify as to the genuineness of the
Items.
bonds
Maturity, $16,C00 on April 1, 1919, and $5,000 yearly
Hreene Connty, Kj.— Bond$ Invalid.— Judge Walter Evans on April 1 from 1920 to 1984, inclusive. The legality of the
of the Federi4l Conrt ou March 14 hsnded down a decision bouds will be approved by J. H. Caldwell, Esq., of New
holding invalid the bonds iseupd by this connty in 18ti9 In York City. Certified check for
di of bonds bid for, payable
«ld of the Cumberland & Ohio RR., and cow long past due.
Hariy
to
L.
Odborne,
Town
Treasurer,
required. Bonded
Sm» V. 77, p. 48,
the
Public
Sale
Providing
of
Bin
for
debt,
including
this issue, $881,000, Assessed valuation,
Mi»f«8ac'ha9ett8.—
Borid.t.—A bill is before the State Legislature directing the $5,071,875
State Treasnrer to advertise all fntnre sales of bonds instead
The official notice of this bond offering wilVJbe found among
of disposing of the same at private sale, as has been the practhe
advertisements elsewhere in this Department.
page
subject
on
1199
this
editorial
on
See
tioe pince liiOl.
Mississippi.— L^flts/afure .4d/ourn«.— The State LegislaBronson, Mich.— Bond Section.— At the spring election
April 4 the question of issuing $18,000 water-works bonds
ture adJDurued at noon Maroh 28.
New York Citj.—Leg slature Passes City Bond Sale Bill. will be submitted to the voters.
—The Legislature has passed Senator Bowling's bill perBranner Independent School Dlstrlet, Harris Connty,
mitting bidders proposing to purchase "all or any part" of Texas. Bond Q^ertngi.— Proposals will be received until 3
bonds offered for sale by New York City to also submit a p. M., April 15, by Conrad Schwartz, President School Board,
different bid for "all or none" of the bonds, which bid may for the $8,000 school-house bonds registered by the State
be accepted by the City Comptroller if he deems it beat for Comptroller last month. Denomination, $500. Date, Feb. 15,
the interests of the city to do so. At present all-or-none bids 1904. Interest, 6;^, payable annually. Certified check for
are barred.
$200, payable to the above-named President, required. The
New York Si&te.— Savings Banks Bills Reported.— The district has no other debt. Assessed valuation, $500,000,
Committee on Banks on March 23 reported Senator TownBart County School District No. 55 (P. 0. Craig), Neb.
send'e bill permitting savings banks to invest in the first —Bond Saie.—Oa March 15 the $1,000 5-year bonds, described
mortgage 5^ bonds of the CJtica Clinton & Binghamton Rail- in V. 78, p. 1002, were awarded to Mrs, Sarah Lunbery of
road; also the bill of Senator McEwan in relation to the in- Craig at par for 5 per cents.
vestment by savings backs in bonds of the Chicago Rock
Castile, Wyoming County, N. Y.— Bonds Not Sold.— All
Idland & Pacific Railway Co,
bids received March 18 for the $32,000 water bonds described
in V. 78, p, 1002, were rejected.
Clncionatl, Ohio,— Bonds Authorized. The City Council
Negotiations this on March 14 passed ordinances providing for the issuance of
Proposals
$800,000 4^ bonds to pay the city's portion of the cost of imweek have been as follows :
proving streets and highways and $250,000 ii bonds to pay
Aberdeen, Miss.— Bond Election.— We are advised that an the city's portion of the cost of constructing sewers, drains
election will be held in May to vote on the question of issu- and ditches. Denomination, $500. Date, April 1, 1904, Ining $70,000 water and sewer bonds,
terest semi<annually at the American Exchange National
Albnqnerqae(N. Mex.) School District.— Bond ^/echon. Bank, New York City. Maturity, April 1, 1924.
—The Board of Education has called an election April 5 to ;:::CleTeland Township, Marshall Connty, Kan. Bond
vote on the questicn of issuing $34,000 school bonds at not Election, An election has been called for April 12 to vote on
exceeding 8$ interest.
the issuance of bonds in aid of the Topeka Frankfort &
Ambler, Pa.— Bonds to he Issued. This borough is about Northwestern Railroad,
to issue $9,000 i% refunding and |4,000 i% improvement bonds,
Cohoes, N. Y. Bonds Proposed.— A bill is before the State
free from tax.
Legislature providing for the issuance of $100,000 4>^$ water
Ann Arbor, Mich. Bond Election, At the April election bonds.
the question of issuing $30,000 city-hall bonds will be subCollinwood, Ohio.— Bond Q(r«nngr.— Proposals will be remitted to a vote of the people.
ceived until 12 M., April 18, by Chas, J. Moses, Village Clerk,
Ashland, Ore.— Bonds Voted. This city on March 17, by a for §100,000 b% sanitary sewer bonds. Denomination, $1,000.
vote of 283 to 188, authorized the issuance of $20,000 sewer Date, April 1, 1901. Interest semi-annually at the Cleveland
bonds. This is the second time these bonds have been voted, Trust Co., Cleveland, Maturity, $10,000 yearly on Oct. 1
tte election held Oct. 19, 1908, having been found irregular.
from 1906 to 1915, inclusive. Accrued interest to be paid by
ATOca, N. Y.— Bonds Defeated.—Tlaia village recently de- purchaser. Certified check for 1^ of the bonds bid for, payfeated a proposition to issue $15,000 electric-lightplant bonds. able to D. R. King, Village Treasurer, required.
BaidwiDSTiUe (N. Y.) School District.— Bond Election.—
Colambns, Ohio.— Bond Sate.— The $550,000 4^ Scioto
An election will ba held April 12 to voto on the question of River storage-dam bonds described in V, 78, p. 782, have
ifisning $25,000 school-building bonds.
been accepted by the Sinking Fund Trustees as an investBaltimore, Md. Bonds Authorized. A bill has passed ment.
the Legislature authorizing the issuance of $1,000,000 parkColambns Grove, Ohio.— Bond Offering.— It is stated that
extension bonds.
the Village Council will offer for sale at 12 m., April 12, an
Bonds Proposed.— A bill is being considered in the State issue of $12,300 5^ paving bonds.
Legislature creating a sewerage commission and providing
Conroe (Texas) Independent School District.—Bonds
lor a vote on the question of issuing $10,000,000 bonds for
Voted. This district has voted to issue $5,000 school-house
eewer purposes.
bonds.
Barre, Vt.— Bo7»d O^eHnflr.— Proposals will be received
Corona (Cal.) School District.--Bond Election. An elecuntil April 1 by James Mackay, City Treasurer, for $28,000 4^
tion will be held April 6 to vote on the question of issuing
Date, May 1,
1-4-year sohool bonds. Denomination, $1,000.
20-year high-school bonds.
$20,000
1904.
Interest semi annually at office of City Treasurer,
Coranna, Mich.— Bond Sate.— On March 15 the three issues
Bartow, Fla.— Bond Sale. This city has sold at par to of bonds, aggregating $32,000, described in V. 78, p. 1180,
Duke M. Farson & Co., Chicago, an issue of $15,000 5% elec- were awarded to Devitt, Tremble & Co., Chicago,
at 104*27
tric-light and sewer bonds.
Denomination, $500, Date, for i% per cents.
Jan. 1, 1904. Interest, semi-annual. Maturity, thirty years,
Dallas, Texas. Bor^d Election.— A special election will be
subject to call one-half in ten years and one-half in twenty
held April 5 to vote on the question of issuing $30,000 4^
SrytTE /^WB
C)TY
Bepahtmewt.
tion, $1,000.
News
Bond
—
and
—
—
—
—
—
—
—
—
H
—
years.
school bonds,
Baton Ronge, La.—Bonds Proposed.— The matter of issuDeerlleld, Mass,— Bonds Proposed. This town has petiing $200,000 refunding and $100,000 public-improvement
tioned the State Legislature for authority to issue $9,000 i%
bonds is under consideration,
10- year refunding bonds.
Beaver City, Utah.— Bond OJeringr.— Proposals will be reDelaware (Ohio) Special School District.— Bond Sale.
ceived until 2 p. M April 10 (this day falls on Sunday, but
8. Kuhn & Sons, Cincinnati, were the highest bidders on
is so given in the advertisement), by Louis W. Harris, Mayor,
March 14 tor $40,000 b% school-house bonds described in V.
for the $10,000 il4^ coupon electric-iight-plant and power
The following bids were received
78. p. 1130
bonds voted at the election held Feb. 23, 1904. Denomina- 8. Kuhn & Sons, Cincinnati... $48,880 00 W.J. Hayes* Song, C'eve... 142.864 00
—
Bros. Co.,Cleve.
42,802 00
tion, $500.
Date, April 15, 1904.
Interest, annual. Ma- N W. Harris* Co.. ChlcaKC 4a.81Vi00 "Lamprecht ~
MacDonalrt.MoCoy&Co..Chi. 42,631 00 Fuller, Parsons & Snyder,
turity, April 15, 1924, subject to call after April 15, 1914. Hpltfer ACc. Toledo
4ii.605 00
48,280 00
Cleveland
Certified check for 10^ required. The above issue will rep- Delaware Sav, B'k, Delaw'e. 42,608 00 Cincinnati Trust Co., Clncin. 42.20100
42,196 00
Clncin. 42,658 uO Karson, L.eacli
—
—
,
:
"
.
reeeot the only debt of the city.
000; real value about $300,000.
Assessed valuation, $260,-
Belle Plalne, Minn,— Bond Sale.— On March 2 an issue of
$1,500 5% bridge bouds was awarded to the First National
Bank of Shakopee at par. Denomination, $500. Date,
March 15, 1904. Interest annually on March 15. Maturity,
$500 yearly on March 15 from 1905 to 1907, inclusive.
Birmingham, Ala.— Bond Election.— An election will be
held April 11 to vote on .the question of issuing $200,000
school-building bonds.
Bloomfield, N. 3.—Bond Offering.— Ptot^obbIb will be received until 10:30 A. M., and opened at 1 P. M., April 4, by
William L. Johnson, Town Clerk, for $90,000
coupon
H
HeaaonKOoa
H,
Mayer,
Keder, Holzman &Co.. Cin...
Sec. Sav.B'b* Tr.Co..Toledo.
Union Sav. B'li&Tr. Co., Cin.
P li. Brieits * Co., Cincinnati.
Hayden, MlUer & Co. Clave..
&Co.,ChlcaKO.
42,488
42,4X0
42,405
42,405
42,368
New Ist Nat. B'k, Columbus.
W.R.Todd * Co.. Clncin....
42.165 00
42,085 00
Prov. Say. B'k A Tr. Co., Cin. 42,0i!4 00
Ciry Sav. B'k ATr.Co AiU'ce. 41,596 00
00 Dayton Sav. B'k & Tr. Co.
40.896 00
00
00
00
00
.
.
. .
Donglas, ^a.— Bonds Not So/d.— The $20,000 5j« 30-year
light and water bonds offered on March 7, were not sold.
Bonds were described in V. 78, p. 782,
Donglas Connty, Neb.— Bond Election. An election will
be held April 5 to vote on the question of issuing bonds.
Dalatb, Minn.—Bond O^eringr.— Proposals will be re-
—
ceived until 7:30 P. M., April 11, by the Common Council, for
$50,000 4^ gold water and light-plant bonds. Authority,
Section 286 of the Charter of the City of Duluth. Denomiuations, $1,000, $500, $100 and $50. Date, March 1, 1904. Inter-
Mar.
THE CHRONICLE.
26, 1904.
est eemi-annnally at the American Exchange National Bank,
New York City. Maturity, March 1, 1934. All bids must be
unconditional. Each bidder will be required to deposit prior
to 2 p. M. on day of sale a certified check or a certificate of
deposit on a national bank for 1% of the par value of the
bonds bid for, payable to the City of Duluth, Actual residents of the City of Duluth will be given the preference in
case of bids otherwise equal. H. W. Cheadle is City Clerk.
East Lake, Altk—Bond Election.— An election will be held
March 28 to vote on the question of issuing $13,500 public-
improvement bonds.
Place, Ohio —Bond Sale,—The $10,000 ii 10debt-extension bonds offered on March
19 were
Co. of Cincinnati. See
awarded to Rudolph Kleybolte
v. 78, p. 887, for description of bonds.
Elmwoud
year
&
£m melt Township,
Pottawatomie Connty, Kan,— Bond
— An election will be held Aoril 12
to vote on the
question of the issuance of bonds in aid of the Topeka FrankNorthwestern Railroad.
fort
special election will be
Enid, Okla. Bond Election.—
held April 4 to vote on the question of issuing $75,000 waterworks bonds.
Essex Gonuty, N. J.— Bonds Authorized.— The Board of
Freeholders recently authorized the issuance of $10,000 4.%
bonds for the purchase of land in Fafrmonnt Cemetery to
provide additional space for the burial of soldiers.
EssexYiile, Rich.— Bond Election.— An election will be
held April 4 to vote on the question of issuing $20,000 water
bonds.
Fergng Falls (Minn.) School District.—Bond 8ale.—0n
March 16 $20,000 lO-year refunding bonds were awarded, it
Co., Chicago, at 102'18 for A%
is stated, to N. W. Harris
per cents. Intere&t, semi-annual.
Election,
&
A
&
Frankfort Townhhlp, Marshall County, Kan.— Bond
Election,—The question of issuing bonds in aid of the Topeka Frankfort & Northwestern Railroad will be voted upon
at an election to be held April 13.
Fredericksburg, Ta.—Bond« Authorized. The City Council has authorized the issuance of $20,C00 water-works and
gas-plant-improvement bonds.
Gibson County (P. 0. Princeton), Ind.— Bond Sale.— We
are advised that the $123,200 i}4% Patoka Township free
gravel road bonds, offered but not sold March 1, have been
awarded to Kleybolte & Co, of Cincinnati for $125,222 68 and
interest.
See V. 78, p. 595, for description of bonds.
—
&
Sons, CleveGlladstone, Mich.— Bowd Sale.—W. J. Hayes
land, have purchased at par an issue of $3,000 5% 5-year re-
funding bonds.
December.
Denomination,
$1,000,
Interest,
June and
1235
000 Jan. 1, 1924, and $30,000 Jan. 1, 1934, Certified check
for 5% of the par valne of bonds bid for required.
Authority
for issue, Chapter 171, Private Laws of 1901. Bonds are
exempt from city taxep. Bonded debt, $90,000. Assessed
valuation 1903, $1,050,000. These bonds were offered, but not
on March 1.
Hollywood (Cal.) School District.— Bond
sol "I,
£'/ec<ion.— An
election will be held April 11 to vote on the question of issuing $50,000 5% school- building bonds.
Hollywood Union High School District, Los Angeles
Connty, Cal.— Bonds Vot«d.—Thia district on March 5 voted
to lesne $65,000 5% 1-20-year (serial) hlgh-achool bonds. De-
nomination, $3,250.
Hoiieoye Palls, N. ¥.—Bonda Be^eaied.-This village on
March 15, by a vote of 57 for to 90 against, defeated the proposition to issne $35,000 water bonds.
Houston, Texas.— Bonds Proposed.— The School Board has
passed a resolution asking the City Council to issue $1C0,C00
school-building bonds.
HnntSTille, Ala.— Bond Election.— The City Conncil has
called an election April 11 to vote on the quettion of
issuing $200,000 school-building bond?.
HuutsTille, Mo.— Bonds Foted,— This city on March 19, by
a vote of 248 to 61, authorized the issuance of $17.C00 streetimprovement bonds. Full details of igsne not yet determined.
HyattSTilie, Md.— Bond* JiMf/ion"«ed.— The State Legislature has passed a bill authorizing the issuance of eewer
bonds.
Jersey City, N. J.— Bond Sate.— The $740,000 4% refunded
water and general bonas offered on March 16 have been sold.
Of this amount $200,000 of the refunded water bonds were
awarded to the Provident Institution for Savings and $20,000
refunded general bonds to the Yorkvllle Bank of New York
City at the prices mentioned on page 1187 of last week's
Chronicle. The remaining $520,000 bonds ($50,000 refunded
water and $470,000 refunded general) have been disposed of
at private sale as follows
$50,000 water bonds to the Provident Institution for Savings at 100-80 and $470,000 general
bonds to the following local banks at 100-55
The First National Bank, the Second National Bank, the Third National
Bank, the Hudson County National Bank and the New Jersey
Title Guaranty
Trust Co. See V. 78, p. 1130, for description of bonds.
;
:
&
Johnstown, Ohio.— Bond Sale.— On March 14 $8,000 4^i
water bonds were awarded to the Security Savings Bank &
Trust Co., Toledo, at par. Denomination, $500. Date, March
Interest, semi-annual.
28, 1904.
1937 to 1942, iDclnsive.
Maturity, $600 yearly from
Kendullville(Iud.) School District.- Bond Etection.—An
Wlen Lllin, N. Dak.— Bond Q^eringr.— Proposals will be election will be held May 8 to vote on the question of issuing
received until 7:30 P. M., April 11, by W. T. Moore, Village $30,000 school bonds.
Kensingtoo, Md.— Bond Election.— It is said that an elecClerk, for $2,600 1% 20-year fire-protection bonds. Denomination, $500. Legality of bonds approved by W. B. Shaw of tion will be held in this town to vote on the question of issuMandan, N. Dak. Village has _no bonded debt at present. ing $50,000 electric-light, water and sewer boods.
Ladlrande, Ore. Bonds Voted.— This city on March 14
Assessed valuation, $60,000.
Grand Rapids, Mich. Bond Election. The City Council, voted to issue $25,000 city-hall bonds,
Lake Crystal, Blue Earth County, Minn.— Bond Sate.—
at the request of the Board of Education, has decided to submit to the voters on April 4 the question of issuing $200,000 Oo March 17 the $12,000 &% 20-year water bonds described in
V, 78, p. 1003, were awarded to F. E. McGraw of St. Paul at
school bonds at not exceeding 4s interest.
109 and interest. Following are the bids
Oa
March
23
ii
Sale.—
$80,000
Y.-Bo»d
ereenbnrgh, N.
|1 8.080 00 Trowbrtdgre & NlTerCo..Ohlc.$12.676 00
St. Paul
road bonds were awarded to N. W. Halsey & Co., New York F. E. McGraw,
A. B. Kane. Mmneapolls .... l.S,076 00 Minnesota Ln. &Tr.Co.,Minn IZ.SOfc 00
City, at 100*84 and interest. Denomination, $1,000. Interest U.M.Stoddard A Co.. Mlnn'Us 13,000 00 John Nuv«en & Co., Ohio
18,388 00
ia,000 00
semi-annual. ifiMaturity, $8,000 yearly on May 1 from 1905 to Uenison, Prior & Co., Cleve- 12.81625 L. Cray, Mankato
land and Boston
Lee tounly (P. 0. Tupelo Miss.- Bond Offering,— FroHarmony Township School District, Beaver County, Pa. posals will be received until 1 p. m,, April 4. by G, W, Long,
Bond OJ^ering.— Pro po3als will be received until 5 p.m., Clerk Board of Supervisors, for $50,000 5^ 25-year courtApril 5, by Charles A. See, Secretary School Board, for $45,- bouse bonds.
628 87 5% bonds. Denomination, $500, except one bond for
Llnculn Township, Pottawatomie County, Kan.— Bond
$128 87. Interest, semi-annual. Maturity as follows
Election.— On April 12 an election will be held in this town17.500
16,000 May 1. 1928
11,128 87 Mayl. 1914
May 1, 1805
ship to vote on the issuance of bonds in aid of the Topeka
10,000
6,500 Mar 1, lw2i
3,600 00 May 1.1917
May 1,1908
1,600
1926
Oct.
7,000
1,
Frankfort & Northwestern Railroad.
4,600 00 Mayl, 192Q
Mayl, 1911
LincoIntOD, N. C—Bond OJ^«rtngi— Proposals will be reTreasurer,
District
the
Certified check for $500, payable to
ceived until 8 P. M., April 8, by the Board of Aldermen, for
required.
Uarrison Township, Ind. -SMbwdi/ Fofed.-This township $30,000 5% coupon water and sewer bonds. Authority, Chapon March 12 voted a subsidy of $14,000 in aid of the ter 306, Private Laws of 1908. Denomination, $1,000. Interest January 1 and July 1 at the office of the Board of
Vincinnes West Baden & Louisville Traction Co.
Maturity, Jan. 1, 1934. J. Thos. McLean is
Aldermen.
will
be
FtopossiiB
Debenture
Offering.—
Harribton, Oat.—
received until March 31 by L. Brisbin, Town Treasurer, for Mayor.
Logan, Utah. Bond Election.— The City Council has de$4,500 i^% high-school debentures, maturing part yearlv on
Feb. 1 for thirty years. Securities are dated Feb. 1 and the cided to submit to a vote of the people the question of ifcsaing $12,000 additional electric-light-plant bonds.
purchaser will be required to pay accrned interest.
Los Angeles, Cal. Date of Bona Election. Local papers
flelena, Mont.— Bond Oiferinflr.— Edward Horeky, City
—
:
—
:
J
—
Clerk, will sell at public auction at 12 M , April 28, $614,000
5% gold water-works bonds. Denomination, $1,000. Date,
Jan, 1, 1904. Interest semi-annually at the office of the
City Treasurer or in New York City. Matnrity, 20 years,
subject to call— $100,000 after five years, .i;100,000 after ten
years and $100,000 after fifteen vears. Certified chtck lor
$1,000, payable to Edward Horsky, City Clerk, must be depositt^d by bidders at least one hour before the time set for
the sale, These bonds have been offered for sale several
'
times without success.
Ueunessey, Okla. -Bond SaZc— This town on February 25
sold an issue of $10,000 6% water bonds to R. J. Edwards at
pur. Denomination, $1,000. Date, July 1, 1903. Interest,
semi annual. Maturity, July 1, 1933.
Hickory, N. V.-Bond Q/Terino.— Proposals will be received
until 8 p. M April 5. by J. D. Elliott, Mayor, for $60,000 5^
Decoupon water, sewer and street-improvement bonds.
semi-anInterest
1904.
nomination, $1,000. Date, Jan. 1,
nually at the First National Bank, Hickory. Maturity, $80,,
state that the election to vote on the question of issuing
$337,500 West Side water-plant- acquisition bonds, $150,000
reservoir bonds and $50,000 hospital bonds will be held on
April
15.
Lngonia School
District,
Bond Offering.— This
San Bernardino County, Cal.on February 20 voted to issue
district
$15,0C0 f)^ 5-19 year (eerial) gold school bonds. Proposals for
theee bonds will be received until 10 a. m., April 11, by H.
D, Sibley, Connty Treasurer. Interest will be payable annuCertified chtck
ally at the office of the County Treasurer.
for 5% required with bids.
— We
Munch < hunk (Pa.) School District.- Bond Fo<e
are advised that the vote at the recent election held to authorize tbe issuance of $30,000 school-building bonds was 486
for to 26 against. The Secretary of the district writes us
that he expects to dispose of these bonds to local iuvestois.
Middlesex County, Va.— Bond* Authorized by Ltgislature.
—The State Legislature has authorized a loan to re-bulld
jail
and
clerk's office.
—
—
3
THE CHRONICLE.
l::3C
Milwaukee, Wis.— i^and Offering.— Fro\06Ale will be rewived nt til 10 A. M., M«rch '^6. by the Ccmmieeioneis of the
Public Debt, at the I flBce of the City Comptroller, for the
foUowirg coopon bonds:
»*.iOOtO 4* I 2i^Ti'»r iJorlaO scluxil bonds. Pononilnatlon, 11,000.
10<.>'' IX) tt l-«0 vi'nr iJi'iiiiii tiiH'l'impruvomeiit bond*. Denomination, f 1,000.
I)tMu>miiittt Ion, »I,OoO.
*i"oiX) 1« 1-iiO rear (sirliill park licmls.
80"000*« l-tO-jtear (i>i<rian .'ast SiweriiKO bvndi. DoLoiulnatlon, forty of
|1.0t.O «ua IWfntjr « f *5i.O.
SecarlttB are all dated Jan. 1, 1904. Interest eeuji-annnally at the office of the City Treasurtr or at the Morton
Trust Co. of New York City. The principal tf bonds may
be registered at the option of the purchaser.
Mlnaeota, Lyon County, Minn.— ^ond Offtring.—Propcof
salfl will be received until 8 r. M,, April 18, at the office
the President cf the Village Council, for |6,000 5<J villagehall and lock-up bonds. Denomination |1,000. Date, April 1,
Interest semiannually at the First National Bank of
1904.
Mlnneota. Maturity, April 1, 1916. F. A. Kingsley is Vilte Recorder.
_Ii88is9lppi.— Bond Bill Passes Legiislature.— The State
Legislature has passed the bill authorizirg the isfuauce of
fSOO.COO l0-80year (optional) bonds at not exceeding 3^% interest, to defray the expenses of the State Government.
Montgomery, Ala.— Bond Election Propoied,— An ordinance :s before the City Council providing for an. election
May 2 to vote on the question of issuing $100,000 echoolbuilding and |2OO,0CO water- works-extension bonds,
Moant tlemenf, Mich.— Bond Election.— At the spring
election the question of Issuing |16,000 fire-department and
135,000 paviDg bonds will be submitted to a vote of the
people.
Meant Holly, N. i.— Bonds Voted.— By a vote of 501 for to
820 against, this town on March 22 authorized the issuance
of 115,000 i% 1-30-year (serial) paving bonds. Date of sale
not ytt determined.
Moant Vernon (N. Y.) School District.— Bond Offering.Proposals will be received until 8 p. m. to day (March 26), by
the Board of Education, at the High School Building on
[Vol. lxxviii.
176.000 S^it stock for bik'h school.^ and sites.
160,000 S^< htook for milks, parkway.s and drlvo.M.
75,000 !*\%t stock for biilMinKs Dep't of Charities,
5 ,' 00 'J'ii stock for uiibllc comfort stations.
60,000 8^g« stock for houiliiK and IlKht iilant— American .Museum of Natural History.
60,000 3^11.iti'ck for btiildluK American Museum of
All
risk
awarded to Harver
4 Suus and Farson,
4 ('o. at their
Leach
Natural lllstorf.
Joint bid of 10004.
stock for Klro Departiuent.
.stock for Kivor.slde Drive extension.
50,000 3!ii< stock for Iniproveiiieiit of Atlantic Ave.
100,000 ii>i,% stock for additional water supply.
J
lOO.COO S%% stock for new aqueduct, awarded to H. Lee Anstey at 100'C4.
r>0,ooo
.SVt'j
5(i,Oiio :tHi»
I
I
The bids received not covered by the above allotments are
shown in the following. The two together furnish a complete record of all bids :
Harvev Fisk 4 Sons
and Karaon, Leach 4
Co
$3,000,000.. 100T4
Dudley S. Hardc
100,000.. 10o-03
Ilanillton Trust Co... $200,000.. 100-00
H. W. Watrous, E.xec. lOn.OOO. K 000
Quincy W. Wellington 10,000.. 100*00
.
Knauth,
Nachoa
4
6,010,.100TO
Kuhne
6,000.. 100-00
Ulman Bros
Abraham B. Coleman.
10.. 100-00
of proposals received was 37 and the ag-
Standard Trust Co... 3,000,000. .100-02
E. F.
Hutton}4
Co.... 150,000. .10002
100,000.. 100*00
A. l8elln4Co
The
total
number
gregate of bids was $8,362,200.
New Prague, Scott and Le Sueur Counties, Minn. Bond
Proposals will be received until 8 p. m,, April 11,
Offering.
by A. J. Rynda, City Clerk, for .|8,000 5% coupon electricpower-houee bonds. Maturity, $1,000 yearly on July 8 from
—
1906 to 1910, inclusive.
North Hempstead Union Free School District No. 7,
Nassau Couiity, N. Y.—Bond O^ering.— Proposals will be received until 3 P. M., April 4, by Jas. C. Spalding, for $12,000
bonds of this district.
Oakland County (P. 0. Pomtiac), Mich.— Bond Offering.—
Proposals will be received until 1 P. M., April 12 (originally
15), by George A. Brown, County Clerk, for $100,000
i% coupon building bondf. DenomiQation, tl,CO0. Interest
annually at office of County Treasurer. Matuiity, $10,000
yearly on April 1 from 1905 to 1914, inclusive. Certified
obecb for $500 required.
Onondaga County (P. 0. Syracuse), N. Y.—Bond Sale,—
Of the $500,000 8}^% gold court-house bonds described in
V. 78, p. 1188, $100,000 were awarded at par and interest to
the Onondaga County Savings Bank. This was the only bid
March
South Fourth Avenue, for |85,000 Z%% registered or coupon
school-loan bonds. Denomination, $1,000, Date, June 1, received.
Interest, semi-annual. Maturity, $10,000 on Jure 1
19C4.
Park County, Mont. Bond O^crtngr.— Proposals will be
from 19S4 to 1936, inclusive, and $5,000 on June 1, 1987. Cer- received until 10 A. M April 31, by Chas. Angus, Clerk of
Board
Education,
of
tified check for $1,000, payable to the
Board of County Commissioners, for $24,000 4^ refunding
required. Edwin Q. Bienvenu is Clerk Board of Education.
bonds. Denomination, $1,000. Date, July 1, 1904, Interest,
>'eivaik, N, J.—Bond 0#ertn^,— Proposals will be re- semi-annual. Maturity, July
1, 1924.
ceived until 3 p. M,, March 29, by Frederick T. Johnson, City
Paterson, N. J.— Bond Sate.— The following bids were reComptroller, for $200,000 i% 80-year registered school bonds. ceived March 21 for the
$150,000 4.% bonds (3 issuee) deDenominations, from $1,000 tOi|10,000 at option of purchaser. scribed in V.
1188:
,
Date, April 1, 1904. Interest semi-annually at the office of
the Commiseiorers of the Sinking Fund. Bonds will be certified to as to genuineness by the United States Mortgage
Trust Co, of Mew York City. Certified oheck for 5$ of the
face value of bonds bid for required,
Newark (Ohio) School District.— Bond SaZe.— The following bids were received March 21 for the $15,000 K]/i% bonds
described in V. 78, p. 1188
W.J. Hayes <t Sons, Cleve... 115.488 00 Noble, Moss & Co., Detroit... $15,856 00
&
:
Well, Roth &.Co.. Cincin
N. W. Harris Jc Co., Chic ...
B. KleyboUe * Co., Clncln...
Fareon, Leatti & Co., Chic.
8. Kuhn & Sons, Cincinnati.
LamprechtBros. Co., Cleve..
Feder, Holzman 4 Co., Gin.
Seasongooa * Mayer, Cincin.
. .
.
.
.
15,S81 00
Harden, Miller
15,;-6-<J00
Fuller,
13,868 60
16,3H7 50
1.^,337 5u
15,3i5 00
16,309 on
16,283 25
4 Co.. Cleve
4 Snyder,
15,232 50
Parsons
15,226 50
Cleveland;
Western German B'k,
W. R. Todd 4
Cln....
15,20100
Co.. Cincinnati 16,167 00
Co.. Cincin.
15,155 00
P. 8. BriKKB 4
15,15u00
''.A. Kean, Chlcato
Prov. Sav. B'k & Tr. Co., Cln. 16,081 25
.
.
.
Philadelphia, Ohio.-Bcnd Sote.— On March 19 the
street-improvement bonds described in V. 78, p.
$20,000
1004, were awarded to Rudolph Kleybolte & Co., Cincinnati,
Following are the bids
at 1C5 25 and interest.
R. Kleybolte 4 Co., Cncln.. .$21,060 00 Denlson, Prior 4 Co.. Cleve$20.7E2 00
land and Boston
Bates* Hance. New Phila... 21,0i0 Ou
New
H
:
titixen8'Nat.Bk, NewPblla.
J. Hayes* Sons, Cle^e.
4 Co.. Cincinnati.
LamprechtBros. Co.. Cleve..
S. Kuhn 4 Sons, Cincinnati..
Fuller, Parsona 4 Snyder,
Cleveland
Beasonxood 4 Maver, Clncln.
tTnlon Sav. Bk. 4 Tr. Co., Gin.
Sec Sav.Bk.4 Tr, Co.,Toledo.
w.
Well, Roth
City Sav. B'k 4 Tr.Co., Alli'ce.
Atlas Nat. Bank, Cincinnati..
P. 8. BriKBS 4Co..Cinolnnati.
Hayden,Miller4 Co., Cleve.
Prov. Sav. B'k 4 Tr. Co., Cln.
W. R. Todd 4 Co.. Cincin.
Peder, Holzman 4 Co.. Cln..
21,o0ooo
00
20,9*5 00
20.901 Co
20,8.0 00
2o,t)57
!c0,h36
00
20,629 00
20,627 Ou
20,6(j6 68
Western German Bk., Cln... 20,600 00
New 1st Nat. Bk., Columbus.. 20.505 OO
20,120 00
S. A. Kean, Chicago
.
20,848
20,830
20,830
80.796
10,716 00
20,700 00
20,6 5 00
60
60
00
00
Newport, B. 1.— Action Deferred.
.
.
— We
are advised that
action has been deferred until a later meeting on the sale of
the $100,000 %%% gold school bonds, bids for which were
afcked until March 22.
See V. 78, p. 1188, for description of
bonds.
New Toik City.— Bond Saic.- On March 24 the thirteen
issues of 33^^ corporite stock, aggregating $3,000,000, were
awarded at an average price of lOO'lO— a basis of about
3*49»^^.
The allotments were as follows :
$1,000,000 Slock for Dotki and ferries.
$100.. 106-00
$100. .100-46
f
10,000.. lOi'OO
100.. 100-40
John B. Hooker Jr.. <
150.. 103-00
100..100-.35
100.. 101-00
100.. 100-30
1,000.. lOl'OO
10.. 100-26
S.
1,800.. lul'OO
10.. 100-20
John W. Sheppard..
8,000.. 101 00
10. .100-15
F. S. Barnum
500.. 10100
10.. 100-10
Sara
Cro^han
100.. 10 1-00
J. F.Smith, Exec
3,600. .10026
James B. Black
01-00
2,000.
Edward Jackson
1,000. .100-26
Grand Lodge, C.S.P.S.
600 .101-00
Richmond Co. Mutual
6,000.. 100-51
Insurance Co
1,5(0. .100-25
5,000.. 100 38
H. Eddy
100,000. .100-17
6,0b0..100->S6
Isaac B. Klelnert
15,000..100 125
Frances S. Hood..
6,000.. 100 19
E. L. Heller
10,000 100-10
6, 000.. 100-1
H. Lee Anstey
100,000.. 100-09
I
6,000.. 100*09
Knickerbocker Tr. Co. 250,000. .100-05
J. E. Ryder
10,000.. lcO-60
Harvey Fisk 4 Sons
Rochester Tr. 4 Safe
and FarBon, Leach
Deposit Co
60.000. 100-45
4 Co
409,810.. 100-04
$1,200,000 3>^ Slock for School Houses and /Sites.
Atlantic Mut. Ins. Co.$500,000..100-1«5 Harvey Fisk 4 Sons
Seamen's Bk. for Savand Farson, Leach 4 >
I
Ingi
500.000.. lOOlO
Co
$200,000., 100"04
Daniel A. Nen
Adam Nickel
Fay H. White.
Florence S. Gross
Wm. J.I^aiding
Sup. Lodge, C: S. P.
Otto F. Jentz
A
. 1
Wm.
.
.
I
|
.
18, p.
Co., Chic. .$150,100 00 Spltzer 4 Co., New York.
.$150,075 00
These bids were rejected, and the bonds sold later to
Francis K. McCully of Paterson at 100-133.
Fawtncket, B. I.— Bond Bill Passes Lfgislature.— Both
Houses of the State Legislature have passed a bill authorizing the issuance of $125,000 water bonds; also bills authoriz-
Farson, Leach
4
I
. .
ing $30,000 fire-station, $60,000 bridge, $350,000 nighway and
,
funding bonds.
$61)0,000
Peeksklll, l^estckester County, N. Y.— Bonds Authorized
by Legislature. — Ch&ptev 19, Laws of 1904, authorizes this
village to issue $124,000 refunding water bonds at not exc eding 4:^4% interest. Loan is to mature in not more than
thirty years.
Peudleton (Ore.) School District.- Bond Election.— An
election will be held in this district to vote on the question
of issuing $62,000 school bonds.
Ptcenix, Ariz.— Proposed Suit.— A letter from the Broad& Trust Co. of Los Angeles, as trustee for the
bondholders of the Pfcoeuix Water Compeny, publiehed in
the Ptcenix "Arizona Republican" of March 18, states that
a suit will immediately be instituted to invalidate the
|3C0,000 5^ water bonds now being tfliered for sale by the
city of Ptoeaix (see V. 78, p. 1006). The complaint in the
suit, it was stated, was being prepared by Judge J. F. Dillon, of Dillon & Hubbard, New York City, and by Judge
C. F. Ainstworthof Ptcenix.
Phoenix, Tempo and Mesa, Ariz.— Bond Election.— The
Joint Tonto Boad Committee, at a meeting held March 1,
passed a resolution recommending that the governing bodies
of the city of Phoenix and the towns of Tempe and Mesa call
an election at an early date for the purpose of voting bonds
Of the $75,in aid of the confctruction of the Tonto Road.
000 bonds proposed to be issued, $67,500 will be chargeable
to the city of Ptcenix, $4,000 to the town of Tempe and $3,500
to the town of Mesa. The Common Council of Ptcenix has
decided to hold the election on April 11.
Pima County (P. 0. Tucson), Ariz.—Bond 0#eringf.— John
Mets, County Clerk, will offer for sale at public auction at
3 P. M, April 4, $30,000 1% gold bonds, part of an issue delivered by Santa Cruz County to Pima County in adjustment
of debt Santa Cruz County having been segregated from
Pima County. Bonds offered are in denomination of $1,000,
Date, Jan. 1, 1903 (coupons for year 1903 detached). Interest
annually on January 2 at office of Treasurer of Pima County.
way Bank
,
—
Pine
Blofif,
Ark.— Bond Baie.— The
sale of $26,000
6<t
West
Sixth Avenue paving bonds to various parties in Little Rock
and Pine Bluff at prices ranging from 95 to par was recently
reported. These bonds, we are advised by W. H. Westbrook. Treasurer of Paving District No. 10, were awarded on
July 25, 1903, and are dated Oct. 16, 1903. They are in denomination of $500. Interest annually on October 15. Maturity, $2,000 yearly on October 15 from 1904 to 1916, inclusive,
I
MAE.
THE CHRONICLE.
26, 1904.]
rPiqua, Ohio.— Bond Sate.— On March
18 the $25,000 i^%
20 year refunding bonds described in V. 78, p. 1005, were
awarded to N. W. Harris & Co., Chicago, at 105 30 and inTwenty bids in all were received, among which were
terest.
the following
N. W. Harris & Co., Chicago. $26,325 00 Fuller, Parsons & Snyder,
Cleveland
26,801 50
$26,212 60
aeasonKood & Mayer, Cin
Well, Roth & Co., Cincinnati. 26,300 25 Hayden. Miller & Co.. Cleve. 28,062 60
26.X50 UO Western German Bank, Cln.. 26,007 60
Feder, HoUman & Co., Cln
W. R. Todd & CcClnclnnatl. 85,771 00
Proposed.—
Bonds
At the instance of AsPitt8bargh, Va.—
sistant City Comptroller E, S. Morrow, an ordinance was introduced In the City Council March 14 providing for the
issuance of |1,122,278 29 bonds for the following purposes
Balance clue on jadgment for the grading, maoadamlzing and curbing of the Grant Boulevard, with Interest, $514,260 82; damages for
the opening and grading of the Grant Boulevard, with Interest, $25,830 14; aseesement against the city for the Euclid Arenue sewer,
with Interest, $37,895 19; balance on jidgment for land condemned
for Bohenley Park (rhomas Herrlott claim), with Interest, $115,548 63;
.
.
. .
|
.
:
assessment for the widening of Virgin Alley, with Interest, $106,319 22; assessment for widening Diamond Street, with Interest. $13,236 13; assessment for sewer in an unnamed alley, Wheeler Street,
with interest, $47,456 86; Pennsyl-vanla Kallroad claim, with Interest,
$211,737 11—total, $1,122,278 29.
Pomeroy, Ohio.— Bond O/mngr.— Proposals will be received until April 12 by Abe A. Massar, Village Clerk, for
$8,000 refunding bonds at 6% interest or les"?. Authority,
Section 2701, Revised Statutes of Ohio. Denomination,
Date, March 1, 1904. Interest semi-annually at the
$1,000.
Pomeroy National Bank. Maturity, March 1, 1924. Certified check for $50 required with bids.
Port Bjron, N. Y.— Bonds Defeated.— This village on
March 16 defeated a proposition to issue $5,000 acetylene-gasplant bonds.
Port Chester, N. Y.—Bond Offering.— PropoB&la will be received until 8 P. M., March 28, by the Board of Trustees, care
of C. D. Camp, Village Clerk, for $27,394 4% gold coupon
Gun Brook drain bonds. Danominations, twenty-seven of
$1,000 each and one for $394. Date, April 15, 1904. Interest,
semi-annual. Maturity, $394 April 15, 1905, and $1,000 yearly
on April 15 from 1906 to 1932, inclusive. Certified check for
5i of bid, payable to Village Treasurer, required.
Port of Portland, Ore.— Bond Sale.—Oa March 24 the
$215,000 i% 3>year dry-dock bonds described in V. 78, p. 839
NEW
NEW
LOANS.
^QO,ooo
of Bloomfield, N.
WA.TER SYSTEM BONDS.
J.
Sealed proposals will be received by the Town
Council of the Town of Bloomfield for all or any
part of an issue of $90,C00 i% Coupons (with privilege of registration) Water System Bonds of said
Town, Bonds to be of the denomination of $',<'00
each, to be dated APRIL 1. 190i, and to mature
|l6,0t0 April ], 1919. and $.'),000 annually thereafter
nntil al are paid, Intereet payable feml-annually,
on April 1 and October 1. Both interest and principal payable at the office of the United states
Morti^age & Trust Company in New York City.
The Bonds win be engraved under the supervision
of and certiaed a^ to genuineness by the Uulted
States iMortgage & Trust Company, and the legality approved by J.H.Caldwell, Ksq., of Ivew York
City, whose opinion as to legality or duplicate
thereof will be delivered to the purchaser.
A certified check for 3% of the amount of bonds
bid for, payable to Harrv L. Osborne, Treasurer of
the Town of Bloomfield, N. J., must accompany
acb bid.
Tne right is reserved to reject any or all bids.
Proposals should be endorsed "Proposal for Water
System Bonds" and be addressed to William ti.
Johnson, Town Clerk, Bloomfield, N. J., and will be
received at tae Town Clerk's office in Bloomfield or
at the United States Mortgage & Trust Company,
65 Cedar Sireot, New York City, until lO'SO o'clock
A. M., Monday, A pril 4, ivOi, and will be opened at
1904.
Delivery of the bonds will be made on April 8,
1901, at 11 o'clock A. M., at the office of the United
1,
& Trust Company, New York
GEORGE PKTERSON.
Chairman Town Council,
Town of Bloomfield, N. J.
JOHNSON
Town Clerk.
States Mortf/age
City.
WILLIAM
L.
Bloomfield. N.
J.,
March
$5,071,875
Assessed Valiiation (iy03)
Bonded Indebtedness, including this issue, 381,000
16,000
Other Indebtedness
9,668.
Population, Census 1900
C. E.
Goodman &
2 Wall Street,
Co.,
New York.
Investment Securities.
first
reported.
Renfrew, Ont.
Debenture Q^ertng.— Proposals will be reAoril 6, by J. K, Rochester, Town Clerk,
for $5,578 05 i% local-improvement debentures, maturing
part yearly for twenty years.
Rochester, N. Y.— Temporary Loan.—
S Lunt & Co.,
Rochester, were awarded on March 22 $75,000 local-improvement-fund notes and $50,000 Hemlock Lake water-shed notes.
The following bids were received
C. S.Lnnt & Co., Rochester, $125,000, three and eight months
4*10«
Spader & Perking, Rochester, $60,00ii. three months
4 lo%
4-24*
Frank E. Jennison, New Vork, 11126,000, three and eight months
ceived until 6
P, M.,
C
:
Monroe County Savings Bank, Rochester,
STOCKS
A
.
SEND FOR
LIST.
months
i'ti%
Rockport, M&S9.— Temporary Loan.— This town has negotiated a loan of $25,000, in anticipation of the collection of
taxes, with Parkinson
Burr, Boston, at 4'12;< discount.
Loan matures Oct. 21, 1904.
Sdginaw, Mich.— Bond Safe.— The $10,000 refunding water
bonds, offered as SJ^s ou March 5 but not sold, have been
awarded as 4s to Spitzer
Co., Toledo, at 102-075. See
V. 78, p. 839, for description of bonds.
St. Clair Township, Pottawatomie County, Kan.— Bond
North-Ejection.- Bonds in aid of the Topeka Frankfort
western Railroad will be voted on at an election to be held
April 13.
St. Joseph (Mo.) School District.— Bond Election.— At the
spring election the question of issuing $95,000 school and
&
&
&
NEW
LOANS.
I^ESCI]VI>EI>.
LOANS.
CLARKE COUNTY,
OA.
ROAD IMPEOYEMENT BONDS.
Sealed bids will be received by the Board of Commissioners of Roads and Revenues nf Clarke County,
Georgia, until 12 o'clock M., APRIL It, 1904, for the
purchase of §100,000 Clarke County, Georgia, Road
improvement Bonds. Bios may be made for the
whole amount or any part thereof. Bonds are to be
of the denomination of $500, dated Julv 1st, 1901, and
payable $1,500 annually for the first ten years, $4 OUO
annually for the next fifteen years and $5,000 annu-
the next five years. Principal and interest
payable in gold at Athens, Ga., or New York City.
interest 4 per cent, payable January 1 and July 1.
Bonds are to be delivered July 1, lyOi.
These bonds are Issued by the authority of the
Constitution and laws of said State and by an overwhelming vote of the people, and have been validated by the courts.
$8,500,000
AssesB ed val uation of property
8,000,000
Market value of property
17,708
Populationin 1900
20,000
Estimated population in 1904 over
181,000
Entire indebtedness. Including this issue..
County has never defaulted In payment of any
ally for
debt.
^10,000
WATERBURY, CONN.
4^
SEWERAGE BONOS.
aty
Clerk's Office, City Hall,
\
Waterbury, Connecticut, March 22, 1904. J
The issue of $10,00-' worth of the Sewerage Bonds of
City
of Wateroury, bearing a rate of interest of
the
four per centum
(4)1)
per
annum, advertised
in the
Commercial AXD Financial Chrijnicle March 19,
has beeu rescinded. At a meeting of the Board
of Aldermen of the City of Waterbury held March
21, 1904, the votes authoriiing the issue of said
bonds p.'issed by said Board March 14, 1«04, were
lt)04.
rescinded.
For further information address,
GEORGE H. NBTTLETON, City Clerk,
City Hall, Waterbury, Conn.
NEW YORK CITY
Bach bid must be accompanied by a certified check
for 2}^ per cent of the amount bid for, to be forfeited to the said county if bid is accepted by the
Board and not complied with by the bidder. All
bids must be endorsed "Proposals for Road Improvement Bonds and directed to "A. L. Mitchell,
Clerk Board of County Commiaslfiners, Athens. Ga."
The right to reject any and all bids is expressly re
served.
THOS. P. VINCENT,
ZWh GOLD
"
TAX-EXEMPT BONDS.
Chairman Board of County Commissioners
T.W.STEPHENS & CO.,
FAKSON. LEACH &
CO..
Public Securities,
WaU
Street,
New
16
PHILADELPHIA.
York.
&
Co.,
BANKERS
B08T0H
MBW YORK.
UHICAOU.
2
Blodget, Merritt
SPECIALTY
INVESTMENT BONDS.
$76 000, eight
f
Rochester Trust & Safe Deposit Co. | «;°ro: '4'h?So°mh'l •..•::::::::::::11^
Broadway Savings Institution, New York, $60,000, three months
4*40*
36
BANK
Chicago, at 94 89 and
Ponghkeepgle, N. Y.—Bond Sale.-It is stated in local
papers that $4,000 of the $57,000 8i^« refunding bonds, offered
but not sold on March 7, have been taken by the Sinking
Fund as an investment, See V. 78, p. 1005 for description of
bonds.
Frophetatown, 111.— Bond Sale.— On March 10 the $11,000
5% water-works boids described in V. 78, p. 1005, were awarded to N. W. Harris & Co., Chicago, at 105'25.
Racine, Wis,— Bond Election. —The question of issuing
bonds for a fire engine house will be submitted to a vote at
the regular Spring election to be held April 5. The amount
of bonds for this purpose will be $35,000 and not $20,000 as at
18, 1904.
FINANCIAL STATEMENT.
& Sons,
were awarded to E. H. Rollins
interest.
Sioo,ooo
Town
1 o'clock H. M", April
1237
Conoress Street, Boston.
NASSAU HTRKKT. MKW YOliK.
STATE. CITY k RAILROAD BONDS.
T. B. POTTER,
H. C. Speer
MUNICIPAL and RONDS
DUINU^,
CORPORATION
& Company
159 La Salle
St.,
Chicago.
172 Washington Street,
DENISON, PRIOR & OO
CLEVELAND.
BOSTON.
CHICAOO,
-
•
•
LIST ON APPI.ICATIOM.
IL.Li».
CITY,
COUNTY
AND TOWNSHIP
BONDS.
===z
—
—
THE
I'j:i8
Date. March 28, 1V04. MHturlty. "unt to ex411 Sewer No. 8t)2 bondx.
coed ti,2iu t)7 tn nnv one vear lioiwccn 1H05 and imut, InclUBlve."
Maliii Ity, "not to ex431 10 4« Sewer No. 903 liDUds. Dale, March a3. 11104
ci'oil »ld3l lu in any ono year benvoon 11106 and l(tO«. Inclusive."
«H
hondi. Maturity, "not oxcocdlUK »'^M4 .'•0 In any one
f)64 80 4* Sewer No.
voar Dotwoon 11105 and 19"ti." Dale of bonds, Kol>. IS. 1904.
884 34 4t Si>\v«r No. WU bonds. Maturity, "not oxceOdlUK 1424 34 in anv ono
year butweon IKOB and IPd". Inclusive." Date of bonds, Veo. 4, 19iii.
I,S36 42 4% Sowor No HlObonds. Maturity, "not oiceedlnu 036 4VJ In any ono
year bclwcisn I!)06 and l9i'<V tnclu.ilvo " Date, March 11, 19U4.
.Maturity, "not exceodlnn $2,000 Itl In any
4,000 16 i% Sowor No, HI><1 bonds
one year hetweon 1906 and 1900, lucluslvo " Date of bonds. Mar. 11,
12.40007
175,000 njannal-tralnlnir-echool bonds at not exceeding i% iniermt will t)f fu^>mltteil to a vote of the people.
8t, MarjJi. Ohio.— «<'n<l Sni«.-On March 16 the 119,000
i^t 20-y»-ar refaniHcjf iKtnds deecrtbed in V. 78, p. 88W. were
Trnst C«>., Cincin
awarded to the Provident Savinfja Hnnk
Fol lowing are the bids
nati, Rt 104 f.i)
t'ourlty SnvliiKS Hnnk & Tr.
ProT .S*v Hk Jk Tr Co .On.»ll',ST4 0()
&
H.("k.Cinelnn»tl
.
H«.7<J2
BO
$10,?<H 00
ToUhIo.
S. Kulin .Ik Sons. Clnrlnnntl.. l».as.M)0
l)Hvti>ii Sav. .* Tr «o. o'lon. ID.irtrtOO
Bank. Cln. 19,*•:^00
Co.. Cinoin.... 1W.3«> 00
llav'lon. .Mlllor A Co.. Tleve. li'.vJSrt fO
w. .1. llityeH .t Sons. Cleye... It). 1-7 0"
19.09(500
P. S. HrlKKU 4 Co.. CIncIo
;oriu:iii
W. H.To<ld A
Co..
•Clnciniistl. U).:«S100
\i.. i:iH»e.. Ui.^'OTO
\
[Vol. lxxviii.
CirROXIOLE.
19U4.
Interest on all issues will be payable semi-annually.
—
Urbana, Ohio.— Bonds Authorized. The City Council has
authorized the issuance of |650 6;^ Locust Street assessment
8t. MarjV, OnU— Debenture Offering— Proposala will be
received nntU 7::i0 r. M., March 28, by L. Hastone, Town
Clerk, for |2S,500 A% debentures, matnring part yearly for
bonds.
Rollins
Yincennes Township, Ind. —Subsidy Defeated.— A subsidy of $37,000 in aid of the Vincennes West Baden & Louisvillp Traction Co. was defeated at the election held March 12.
Wapakoneta. Ohio. Bond Offering. Proposals will be received until 12 M April 4, by Charles E. Fisher, Village
Clerk, for |7,n00 5i water-works bonds.
Denomination,
Date, March 1, 1904, Interest, semi-annual. Maturity,
$500.
$500 eaoh six months from March 1, 1907, to Sept. 1, 1913,
inclusive. Cash deposit of $200 required with bids.
Washington (Pa.) School District.— Bonds Fofed.— This
district on March 22. by a vote of 279 to 288, authorized the
issuance of $100,000 5% building bonds. Details of issue to be
purposes.
determined
twenty
San Ulesro, Cal.— Bond Sale.— The $160,000 41^?; water, the
$89,000 4^< water and the $140,000 4>^* eewer-extension
bonds described in V. 78, p. 1006, were awarded to E. H.
years.
—
,
& irons of Chicago.
Schenectady, N. Y.— .Bond* .<4«</iort«eci. — Ordinances have
pasped the Common Council authorizing the issuance of the
$75,000 sewer. $50,000 fire and |110,000 water-department
bonds mentioned in the Chronicle March 12.
SheDandoata, Ta.— Bonds ^?it/iori«ed.—This place has been
authorized by the Legislature to negotiate a loan for water
Minn.— Bond
OjTerinfli.— Proposals will
April 3, for $15,0C0 655 2-16-year
Securities were author(serial) electric-light-plant bonds.
ized at a recent election by a vote of 138 for to 49 against.
Stra<barg, Va.— Bonds Authorized by Legislature. The
Issuance of bonds for water works has been authorized by
the State Legislature.
Swarthmore, Fa. Bond Election. An election will be
held in this thorough April 5 to vote on the question of issuing $6.0C0 bonds.
Tecnmgeh (Neb.) School District.— Bond ^BZecfton.— At
the regular spring election April 5 the question of issuing
|17,00u school-house bonds will be submitted to a vote.
Toledo, Ohio.— Bond.9 Authorized, The City Council has
passed ordinances providing for the issuance of the following bonds
SoDth Stillwater,
be received until 7:30
p, M.,
This was the only bid received.
Offering Withdraivn.—Aa will be seen from the
official notice among the advertisements elsewhere in this
—
interest.
Bond
—
Department, the offering for sale April 18 of |10,000 i% coupon
sewer bonds has been withdrawn, the Board of Aldermen
having rescinded its action in authorizing the issue.
Weiser (Idaho) Independent School District.— Bond
Election.— We are advised that an election will be held in
this district to vote on the issuance of $5,500 funding and
$24 500 improvement 10-20-year (optional) bonds at not exceeding &i interest.
—
:
R.
INVESTMENTS.
L. DAY & CO.,
40 Water Street,
BOSTON.
INVESTMENTS.
8 Nassau Street,
NEW YORK.
IVIISCELLANEOUS.
BOND DEPARTMENT.
Perry, Coffin
BANKERS,
later.
Waterbury, Conn.—Bond Sale.— On March 21 the 1100,000
3}4% 1-20-year (serial) water bonds described in V. 78, p. 841,
were awarded to Robert F. Griggs of Waterbury at par and
&
Burr,
THE AMERICAN TRUST
(NVESTMENT BONDS
& SAVINGS BANK,
Chicago,
60 State Street,
MEMBERS
NE"^ YORK A^S^D BOSTON
BOSTON,
STOCK EXCHANGES.
Offers
Railroad,
Illinois.
Municipal and Cor-
poration Bonds, conservatively issued,
HTATE. MUNICIPAL. AND HIGH GRADE
RAILROAD SECURITIES.
yielding investors
F.
R.
FULTON & CO.,
Rudolph Kleybolte&Co.
BANKERS,
Municipal Bonds,
171 LA SALLE STREET,
DEALERS IN
CHICAGO.
MUNICIPAL, RAILROAD and
STREET RAILWAY
1
BONDS.
NASSAU STREET, NEW
Interest Paid on Daily and
Time
MUNICIPAL BONDS.
£. C.
YORK.
Co.,
BOSTON.
npon
MANILA, 8I8AL
AND JUTE
CORDAGE.
65
Wall
Street,
New
York.
STOCK
BONDS AND
CERTIFICATES
AMD
Service
95
and prices
application.
lists
The American Mfq.Co.
BANKBRS.
Milk Street,
Deposits.
MUNICIPAL
Public
Stanwood &
Printed
H to 5}4^.
Handsomelr engraved, or In cheaper
Corporation
style
(not cheap looking) partly printed from
Send for samples and estimates.
type.
100 Certi^cates 13 to 125. SealPress%\m. Quicfc TTor*.
DTHITING'S PAPERS.
Albert B. King & Co.,
BONDS.
Engrax^ers
105 William Street.
and Ltthugraphers,
New York City.
E.H.ROLLINS & SONS,
BOSTON.
Denver.
Chicago.
Chronicle
San Franelseo.
1802—Jan.
1893— Jan.
2, 16;
7. 21.
13, 20, 87;
MacDonald, McCoy
k
Co.,
aumCIPAL AMD CORPORATIOK
BONDS.
La Salle
Street, Cbicago,
Jnne
10.
April 7; June 83. 80.
11; Feb. 1. 8, 15; Apr. 18; Jnne 27.
21, 28; Feb. 18, 25; April 16; May 20; Jnne 8.
Quotation Supplement -Jan.,:Feb. and April
1804— Jan.
1896-Jan.
1890—Jan.
13, 20, 27;
Feb.
3;
Jan., March, 1901.
Investors' supplement- Issnea Jan. and May,
1893, Jan., 1900 and 1901.
Will pay 10 cents a copy for the Chronicles and
18«tf;
15 cents for the
171
Numbers Wanted.
Feb. 27; April 8, 23; Oct. 16; Dec 10.
28^ Feb. 4; March 4; April 16; May 6,
Supplements.
WILLIAM
B.
For Business Correapondeuoe.
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them made by the
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Chica<ro.
Mab.
THE CHRONICLE.
26, 1904.]
Watertown, Mass.— Loan Awarded.—The $100,000 loan
bridge bonds described in V. 78, p. 841, bide for which were
opened on March 14, were awarded, the former to the Toledo
Savings Bank
Trust Co. at 102-35 and the latter to W. J.
Hayes & Sons, Cleveland, at 105'05. Following are the bids :
150.000 Bands.
$30,000 BoniU.
„
_
Toledo Savings Bank & Trust Co
*:! 1.325 06
$51.175 00
W. Hayes & Son8,:Cleve)and
si. 516 00
60.915 00
maturing Sept. 1, 1904, was awarded on March 22 to Geo.
Mixter of Boston at 8*98$? disconnt and $1 50 premium. The
following bids were received
&
:
DUeount.
..••.
ITNM
i
Biak'e Bros.'
*
Co..
Bostoi)".'.!
." ."
Discount.
Bond & Goodwin. Boston
'S-m%
Geo. Mixter, Boston
R. li. Day * Co., Boston
4-00*
Edgerly
,
4"09%
4
Crocker, Boston
i'lTS
Blodset. Merrltt 4 Co.. Boston.. 4'28«
4''^4^
.1.
R. Kleybolte & Co., Cincinnati
Parson. Leach & Co.. Chicago
The Lamprecht Bros. Co., I leveland
Denlson. Prior A Co.. Cleveland and Boston
Lorlng.Tolman iTuDper, Boat.. 4-2fl56
Farson. Leacb & Co., Boston
i'iO%
.'4*07it
And $1 50 premium.
&
Mayer, Cincinnati, at 115'54.
West Mausfleld, Ohio.— Bond O^ering,— Proposals will be
received uctil 12 M., April 1, by C. D. Atkinson, Village
W.
.
Acting President.
JOHN
NASH,
J.
MITCHELL
Vice-P*re8ldents.
L. GREENE,
THOMAS
Vice-President and General Manager.
GEORGE W. YOUNG, Treasurer
Audits,
Bonds are dated April
Matnal Life Bnildings,
43 Cedar Street
CHICAGO.
PHIL.ADE1.PHIA.
THE AUDIT COMPANY
OF ILLINOIS,
NEW YORK
BUILDINQ
CHICAGO.
LIFE
Publio Aooounianis
and AudiioPi.
W.
President.
LITTLE, Vloo-PreBldont.
0. D. ORGAN, Seo. and Treat.
C. W. KNISELT, ManaKBi
DIBBCT0B8;
A, a. BaoKXB, A. G. Becker tt Co., ChlcaRO.
F. W. Little, V.-Pres. Peoria Gas & Blea Co., Peoria
&. A. BTTHXB,CaBh'r Nat'l LIto Stock Bank, Chicago
J. B. Walsh, Pres. Chloaeo National Baok,Cbioago.
L. A. Waltok. V..Pre». Equitable Trust Co., Chicago
Atlantic Matnal Inanranoe
of All
Company
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY,
New York, January 20th. 1904.
The Trustees, in Conformity with the Charter of the Company, submit the foUoioing sialemtnt of
its affairs on thestst of December, igoj ;
$3,174,147 73
Ift January, 1903, to 31st December, 1903.
RIbIts
from
Marine
Premiums on
800,368 56
Premiums on Policies not marked off Ist January, 1903
off from let January, 1903, to 31st December, 1903
$336,185 20
Interest received during the year
"
"
"
$448,108
111,923 77
less Taxes
Rent
Losses paid during the year -which were estimated
In 1902 and previous years
Losses occurred, estimated and paid in 1903
___^___^_
97
$322,490 79
1,065,141 8S
$1,387,632 62
$146,587 55
64.028 75
Less Salvages
Rb-insurauces
210,616 30
$1,177.016 32
Returns of Premiums and Expenses, $467,841 97
The Company has the following Aseetn, viz.:
, „« ^„ . ^«
$5,170,084 00
United States and State of New York .-^took; City, Bank and other Securities
...........
1,612,252 53
Special deposits in Banks and Trust Companies
Real Estate corner Wall and William Streets and Exchange Place... $3,789,000
75,000 3,864,000 00
Other Real Estate and Claims due the Company
Premium Notes and
in ti.e
WV
Bill Receivable
ltl07,221 88
hands of European Bankers to pay losses under policies payable in
So
ici SI
89.46172
ash In Bank
$12,025,021 81
Amount
paid to the holders
Six per cent Interest on the outstanding certificates of profits will be Febt-uary
ne.xt.
i'nereof or their legal r^preseuiatl ves. on and alter Tuesday, the second of
paid to ihe holders
The outstanding oertitioates of the issue of 1 898 will be redeemed and
February ne.xt, from
thereof or their lega. representatives, on and after Tuesday, the second of
time of
which date all iuteres*^ thereon will cease. The certiUcates to be produced at the
payment, an
caiice^t^^.^
^^^^
declared on the net earned premiums of the
upon application, certiUcates
TRUSTEES.
Years Bonsht and Sold.
NEW YORK
Street,
^^
for the year ending 31st December, 1903, tor which,
on and alter Tuesday, the third of May next.
Company
will be Issued
g.^By^-ilS^^^yi^^ov^D-'lioNES, Secretary.
No. 620 Atlantic Bnlldingr,
Wall
$3,250,364 45
Premiums marked
aUSTAV AMSINCK.
FRANCIS M. IJACuN,
JOUN N. BKACll.
TON
wiLMAM
TiCUNoN
«.
15()l
I
H. I4KOU-N,
UHOWN,
WALDKON
JOSKTH H.IHAI-.MAN,
GBOKGH i\ CLAKK,
-^OKNKLIUS Kl,l>KRT,
IWALU FLEIT-MANN,
1>.
49-61
$3.974.516 29
Premiums
Mcrlv
JOHN M. GILLESPIE,
Soom
1908.
foreign countries
WALTON,
F.
1,
25, 1904.
INSURANCE.
Cash
OFTICBRS
L. A.
31,01250
81,27600
81,850 OO
Interest will be payable
semi-annually at the oflBce of the City Treasurer. Purchasera
must be prepared to take the bonds not later than April 25,
1904, the money to be delivered at one of the city banks or at
the office of the City Treasurer. A certified check for 2i of
the amount of bonds bid for must accompany proposals,
which must be made for each block separately.
$30,000 5%
Total Marine
Examinations, Appraisals.
NEW YORK:
30.4S0 00
30.677 00
31,275 00
1900 to 1915, Inclusive.
550 5^ sidewalk bonds, maturing Oct.
The Audit Company
A.
60,87000
60,12500
SO.nSOOO
&
AUDIT COMPANIES.
WILLIAM
31,129 00
30,625 00
of these bonds to MacDonald, McCoy
Co. of Chicago is incorrect.
Yonkers, N. l.—Bond Sale.- On March 18 an issue of $40,000 4% 20-year water-improvement bonds, dated April 1, 1904,
was awarded to Rhoades
Richmond, New York City, at
104 69. Interest, semi-annual.
York and Leicester (Towns) Union Free School District
No. 7, Livingston Connty, N. Y.—Bond Sale —Oa March 21
$14,000 i}{% sohool-building bonds were awarded to Isaac W.
Sherrill of Ponghkeepsie at 101*264. Danomination, $1,400.
Date, day of sale. Interest annually on December 1, Maturity, $1,400 yearly on Dec. 1 from 1904 to 1913, inclusive.
Yoangstown, Ohio. Bond Offering.— PropoBAla will he received until 2 p. M,, April 18, by Wm. I. Davies, City Auditor, for the following bonds :
$4,750 5% fire engine bonds. Maturity, one bond |476 yearly on Oct. 1 from
H
York.
NewBBLStONT
OF AUGUST
59,680 00
50,525 00
50.500 00
50,450 00
50.402 02
6
boulevard and the $1,471 94 5^! sidewtilk-assessmwt
bonds described in V. 78, p, 730, paying $2,017 60 and $1,534 79,
respectively, for the same.
Wood County (P.O. Bowling Green), Ohio.— Bond SaZe.
highway and the
31.42500
31,12600
,"50,70000
The reported award
WyomiDg, Ohio.— Bond Sale. —The Western German Bank
of Cincinnati was the successful bidder on March 5 for the
17 the $50,000 5%
1
Fremont Savings Bank, Fremont
bonds.
—On March
31.2B700
3l,i00 00
50,750 00
R. Todd & Co Cincinnati
Secarily Savings Bank & Trust Co. Toledo
5 Kuhn & Sons, Cincinnati
Merchants' National Bank, Toledo
&
$2,000
3 .440 00
60.90350
60,90 00
Spltzer&Co.. Toledo
H. R. Ashbronk
S. A. Kean. Chicago
Clerk, for |11,000 4% electric-light bonds. Authority, Section
2835, Revised Statutes of Obio. Denomination, $250. Date,
April 1, 1904. Interest, March 1 and September 1 at the office
of the Village Treasurer. Maturity, $250 each six months
from March 1,1905, to Sept. 1, 1926, inclusive. Certified
check for $100, payable to the Village Treasurer, required.
Bonded debt at pr^^sent, $3,000. Assessed valuation, $175,000.
Wheeling, W. y a.— Bond Election Proposed.^The Board
of Trade, at a meeting held March 18, passed a resolution requesting the City Council to call an election to vote on the
question of issuing $800,C00 water, street and gas bonds,
WilliamsbnTgr, Va.— i?ond Election.—The City Council has
decided to submit to a vote of the people the question of issuing $30,000 water-works bonds.
Win dber, Pa,—Bond SaZe.— The $12,000 sewer and building bonds offered on March 4 have been awarded as 4}^ V^t^
Sons, Cleveland, at 101. See V. 78,
certs to W. J. Hayes
p. 730, for description of bonds.
Woonsocket, K. I.— Bonds Proposed.— This city seeks legislative authority to issue $150,000 water-works-improvement
50,926 00
50,875 "O
Fuller, Parsons ASoyder Cleveland
New First NHtlonal hank. Columbus
Well. Roth * Co., Cincinnati
P. S. BriKBsA Co., Cincinnati
Feder, lioizman & Co., Cincinnati
West Carrollton, Ohio.— Bond Sate,— On March 14 the
|7,000 H sewer bonds described in V. 78, p. 786, were awarded
to Seasongood
1239
nEURKUT
LKMIOT
•
ANSON
\V.
I..
A.
OUIOGS.
GIUSCOM,
IIARI»,
M"Rinrt K. .IKSCP.
I.KWIS CAriS LKDVARD,
FRAiNCis ij. ].K,t;(jivnv
J.KVKRICri.
niAHLKS
LEANDWR N. I.OVELL,
OKOHGK U. MACY,
l>.
rUARI.KH 11. MAKSUALL,
W. U. 11. MOORfc;,
LRVI P. MORTON,
UICNUV PARISH,
KREDKltlC
DALLAS
PARSONS
A.
U. J'RAT'l'
(JKOlUiH! W. gUlNTARD.
A. A. RAVKN.
RIKKU,
JOHN
I)()U(3LAS ROniNSON,
GUSTAV U. SCHWAB,
WILLIAM C. STUllUBS.
!..
RAVEN, President.
A VAKHOiiS, Viref res'
CORNELIUS ELDERT, 3d
A. A.
A. G. Becker
&
Co.,
(DJOOBPOKATKD.)
COMMERCIAL PAPER,
S.
W. Cor. Monroe & La
Salle Sts., Chicago.
F.
THEO.
I.
P.
JOHNSON, jf/
Tice-Pre^t.
Vice-Pres't.
TllK CHRONICLE.
IvMO
Uciu
gngluccvs, gtc.
WHITE &
Q.
J.
CO.,
48-49 Exchange
I'laoe,
New
Inveetigations and Reports on Electric
Kaihvay. Gas, Electric Light, and
Power Trunsmission Properties
for Financial Institutions
and Investors.
BlKtrle B«ilw»yB, ElMtrle Light and ElMtrk
Power Flanta Financed, Designed and Built,
CO.,
BXBA LlHOOUr.
BANKERS,
No. 20 Nassaa Street,
New
•
York.
Cannon
MURALT &
8t.
CO.,
Engineers and Contractors,
25 Pine
New
St.,
New York Stook Exehav
High-Qrade
Investment Securities.
InYestment Bonds
18 TTall Stree
and Guaranteed Stock?.
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Meinliers of
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O. \«HITE
J.
WU. W. OAMWMUm.
Philip Ccstis.
M9mberi of Nev York Block Machangt.
York.
gouses.
XJovIi ^tocti g-ecltauflc
SIMON BORG &
Engineers, Contractors,
[YOL. LXXVIII.
Deterlptive Cirenlar sent upon Applieation,
New Tork
Member!
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STOCKS, BONDS and INYESTmtlNTS.
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DANA COMPANY,
»«« PINE
ST..
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WALL
We Make
&
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J.
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N. Y Stock Exchange.
41
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ft
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1
C7
V.78
Dt.l
The Commercial and
financial chronicle
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