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The
t1flflfli~f(tt
Bank St Quotation Section
Railway Earnings Section
VOL. 94
1• lirtintrie
INCLUDING
Railway Sc Industrial Section
Bankers' Convention Section
Electric Railway Section
State and City Section
SATURDAY, MARCH 30 1912
gite (chronicIt.
,d
fittantiat
PUBLISHED WEEKLY.
Terms of Subscription-Payable in Advance
NO. 2440
Week ending March 23.
Clearings at1912.
1911.
Inc. or
Dec.
1910.
1909.
_
Chicago
289,673,095 257,194,629 +12.6 273,35.3,234 246,666,395
$10 00
For One Year
23,899,450 +19.1
28,462,050
Cincinnati
22,135,100
20,972,050
6 00
For Six Months
15,976,020 +15.3
18,410,157
Cleveland
15,254,770
15,285,575
13 00
European Subscription (including postage)
17,417,465 +15.4
20,104,764
Detroit
12,087,158
15,657,024
months
(including
50
7
postage)
six
Subscription
European
+14.2
12,077,454
13,787,164
10,096,840
12,005,993
Milwaukee
(inclu(1ing
London
14s.
22
pcstage)
Annual Subscription in
5,968,119
7,091,398
8,023,048
7,208,518 -1.6
21 us. Indianapolis _
Six Months Subscription in London (including postage)
5,004,700 +17.8
5,939,800
5,435,700
Columbus
5,894,100
postage)
50
$11
(including
Subscription
Canadian
4,289,641
4,326,096
4,661,854 +44.3
6,726,128
Toledo
2,465,057
+2.4
3,256,331
2,915,685
Subscription includes following Supplements3,334,452
Peoria
1,948,180
2,234,478
2,387,174 +21.6
2,878,290
Grand Rapids_ _ _
BANK AND QUOTATION (monthly) RAILWAY AND INDUSTRIAL(3 times yearly) Dayton
1,622,509
+1.5
2,005,181
2,003,963
2,035,761
ELECTRIC RAILWAY(3 times yearly)
RAILWAY EARNINGS(monthly)
1,699,290
1,963,636
2,177,126 +16.1
2,528,206
Evansville
(yearly)
CONVENTION
(semi-annually)
BANKERS'
CITY
AND
STATE
442,002
617,852
788,014
Kalamazoo
612,430 +28.8
934,090
Springfield, Ill _
1,016,637
1,071,539 +32.5
1,419,744
Terms of Advertising-Per Inch Space
725,617
Fort Wayne _ _
1,023,521
983,489
961,869 +22.5
ate lines)
657,303
Lexington
Transient matter per inch space(14 al
686,090
1,022,207 +16.7
1,193,358
22 00 Youngstown _ _
716,783
2,188,445
791,572
1,017,807 +115.0
00
29
Three Months (13
772,276
Roc,ford
924,812
1,002,645 -7.8
907,379
Standing Business Cards
50 00 Bloomington._ _
(26 times)
timesonh
Six M
642,039
809,115
649,915 +24.6
607,980
87 00 Quincy
Twelve Months(52 times)
534,689
734,783
639,002 +14.9
728,326
Akron
575,000
1,797,000
886,150
863,400 +108.2
CHICAGO OFFICE-Pliny Bartlett,513MonadnockBlock;Tel.Harrison 4012. Canton
577,490
1,270,949
+40.3
905,854
999,376
LONDON OFFICE-Edwards 85 Smith,1 Drapers' Gardens, E. C.
442,338
342,399
409,162 +8.1
Decatur
450,340
427,648
542,839
Springfield, 0...
433,770 +25.1
512,188
WILLIAM B. DANA COMPANY, Publishers,
381,984
471,722
476,868 -10.8
453,043
South Bend
P.0.Box 958. Front. Pine and Deperster Sm, New York.
264,365
330,872 +27.5
422,000
357,857
Mansfield •
328,708
+8.9
474,658
435,911
448,170
Danville
315,814
385,000 +51.4
582,767
350,000
Published every Saturday morning by WILLIAM B. DANA COMPANY. Jackson
245,510
342,579 -20.4
272,486
297,834
Jacob Seibert Jr., President and Treas.; George S. Dana and Arnold G. Dana. Jacksonville, Ill_
372,855 +11.3
414,065
Vice-Presidents; Arnold G. Dana, Sec. Addresses of all. Office of the Company. Lansing
239,623
237,207
279,161 +21.5
339,461
Lima
153,107
187,770
208,096
187,644 +0.0
Ann Arbor
CLEARING-HOUSE RETURNS.
33,168
20,191
32,754
65,034 -49.6
Adrian
The following table, made up by telegraph, &e., indicates that the Owensboro
+24.1
453,005
505,000
365,384
total bank clearings of all clearing houses of the United States for week
Tot. Mid.West. 417,671,139 366,076,810 +14.1 376,281,291 339,482,474
ending March 30 have been $3,373,449,918, against $3,217,357,588 last
week and $2,861,601,118 the corresponding week last year.
32,846,111
San Francisco_ _
48,959,687
40,913,901
46,454,525 +5.4
12,179,446
Los Angeles
21,292,577
17,995,527 +18.3
16,100,000
Per
9,282,457
Seattle
10,721,903
12,249,524
10,156,583 +5.5
Clearings-Returns by Telegraph.
1911.
Cent.
1912.
6,611,522
12,450,238
Portland
10,729,578 +16.0
8,330,841
Week ending March 30.
5,380,629
Salt Lake City_
8,516,838
6,137.738 +38.8
5,751,317
$1,641,500,842 53,217,988,860 +34.8 Spokane
3,545,595
4,095,088
3,925,041
+4.3
4,625,746
New York
133,013,014 +13.9 Tacoma
151,458,666
5,063,094
4,626,101 +11.9
5,153,354
5,190,094
Boston
+13.3 Oakland....
104,265,581
*118,170,339
3,518,291
1,632,485
2,729,490 +28.9
2,784,621
Philadelphia
+8-3 Sacramento
23,830,856
25,804,980
I. 804,158
1,592,712
1,401,625 +13.6
1,227,065
Baltimore
212,416,088 +14.3 San Diego
292,795,802
640,939
1,550,000 +54.2
2,390,365
1,305,224 is
Chicago
+3.9 Pasadena
55,243,382
57,420,500
871,858
992,161
859,524 +1.4
St. Louis
+17.4
458,064
13,995,747
+19.6
16,434,817
726,546
869,000
679,780
Orleans.
Fresno
New
381,573
461,441
881,644
587,030 +16.1
Stockton
390,147
511,397
482,133
$2,253,583,946 $1,780,738,508 +28.0 North Yakima _
441,335 +9.2
Seven cities, 5 days
347,605
448,727,219 +14.9 San Jose
427,571
515,469,728
437,477 +30.9
572,500
Other cities, 5 days
230,000
204,304
219,930
233,386 -5.8
Reno
$2,789,053,674 $2,209,465,727 +25.3
Total all cities, 5 days
79,793,625
Total Pacific_ _ 122,388,098 108,991,706 +12.3 101,754,987
-7.3
652,135,391
604,396,244
All cities, 1 day
41,877,845
52,114,772
48,531,715 -3.9
46,626,681
Kansas City _ _
16,674,449
17,223,406 +2.9
17,714,480
17,808,869
$3.373.449.918 52.861.601.118 +17.9 Minneapolis
Total all cities for week
13,976,411
15,556,179
17,290,978
14,367,547 +8.3
Omaha
*Partly estimated.
9,952,608
11,995,854 +4.0
12,475,800
10,605,532
St. Paul
9,071,078
The full details for the week covered by the above will be given next Denver
7,819,876 +16.3
9,094,358
9,524.910
6,244,021
6,541,806
Saturday. We cannot furnish them to-day, clearings being made up by the St. Joseph
7,837,445 -16.5
6,025,810
3,440,220
tearing houses at noon on Saturday, and hence in the above the last day of Des Moines
4,210,915 +5.1
4,424,975
4,378,853
2,689,430
2,473,743 +10.0
2,720,407
the week has to be in all oases estimated, as we go to press Friday night.
3,394,460
Sioux City
3,144,543
3,133,278 +0.4
We present below detailed figures for the week ending with Saturday, Wichita
3,049,648 I2,532,386
noon, March 23 for four years.
3,534,844
2,582,471 -0.6
2,566,192
Duluth...
1,388,652
1,513,697
1,336,133 +6.4
1,421,014
Lincoln
1,269,925
1 ,469,998
1,398,354
1,272,054 +9.9
Davenport
Week ending March 23.
1,098,922
-1.4
1,365,308
1,578,284
1,555,478
Topeka
Clearings at
1,005,418
1,301,843
1,163,815 +11.9
Waterloo
Inc. or
802,327
780,841
842,126 -5.6
795,009
Helena _____ _
1909.
1910.
Dec.
1911.
1912.
846,691
898,105
680,031 -17.4
512,010
Fargo
839,228
1,476,205
Cedar Rapids _
1,086,041 +17.0
1,271,299
$
553,803
+19.9
560,968
531,825
Springs
637,717
Colorado
1,476,033,620
1,688,762,765
+21.7
1,851,217,162 1,520,933,679
New York
488,205
622,325
694,515
575,206 +20.7
Philadelphia _ _ 154,190,770 133,859,191 +16.2 123,930,451 107,817,674 Pueblo
337,916
240,149
372,873
245,613 -2.2
46,776,269 Fremont
44,046,441
50,475,075 +6.3
53,644,440
Pittsburgh
173,392
+196.7
Billings
200,080
87,218
258,786
23,820,725
24,388,912
31,586,050
Baltimore
29,256,336 +8.0
152,650
180,000
189,179 -19.3
7,820,732 Hastings
8,822,269
+0.4
9,058,834
0,097,249
Buffalo
-11.1
378,612
Aberdeen
368,797
327,852
5,623,723
6,581,767
+21.3
6,397,274
7,763,846
Washington __
4,126,992
5,129,944
4,990,874 +2.6
Tot. oth.West _ 131,482,178 130,133,602 +1.0 139,374,899 114,038,509
5,070,971
Albany
2,805,433
3,052,155
3,166,558 +25.6
3,976,292
Rochest
58,858,812
St. Louis
68,917,205
74,236,182
72,128,254 +2.9
2,336,848
2,172,058
+7.7
2,533,854
2,730,000
Scranton
13,875,463
New
15,242,086
16,988,734 +18.9
20,120,497
Orleans... _
1,711,546
1,823,182
2,039,415 +11.3
2,269,148
Syracuse
12,225,808
+2.6
11,669,302
Louisville
13,975,711
13,628,604
1,345,959
1,373,016
1,398,690 +16.2
1,825,408
Reading
14,504,460
10,800,000 +56.7
16,923,213
12,888,758
Houston
1,213,959
+3.3
1,383,914
1,412,282
1,459,847
Wilmington
6,265,500
+38.4
6,884,500
6,328,500
9,526,500
Galveston
1,205,288
1,148,222
1,295,403 +5.1
1,361,928
Wilkes-Barre _ _ _
5,883,109
7,255,604
6,978,390 +17.6
8,208,962
1,588,591 +28.6
1,285,271 Richmond
1,984,235
2,011,007
Wheeling
5,649,406
6,481,230
r5,573,250 +4.1
5,800,000
Fort Worth
1,286,949
1,237,765
+29.4
1,664,065
1,225,383
Trenton
5,117,596
+30.5
6,471,046
5,879,005
7,673.869
Memphis
918,368
836,462 +9.8
754,824
859,500
York
4,422,840
+25.9
9,524,217
10,812,498
13,018,721
766,316 +16.9
619,976 Atlanta
896,687
671,562
Erie
3,207,653
3,592,325
3,731,939 +42.2
5,306,878
550,100
396,300 Savannah
367,100
487,900 +17.5
Binghamton
3,980,602
3,410,354
4,116,322 +28.7
5,297,821
511,875
350,000 Nashville
2.7
526,107
481,346
Greensburg.
2,762,060
2,774,813
3,202,360 -5.0
3,042,117
Norfolk
484,624
541,920
478,570
+13.7
553,040
Chester
1,945,615
+34.6
2,322,861
2,315,000
3,115,000
Birmingham
_
322,376
508,418
407,915 +24.6
369,962
Altoona
1,934,076
1,752,012
-29.2
2,291,248
2,228,590
Augusta
1,073,433 +57.5
1,690,284
Lancaster
1,653,889
2,195,831
2,719,529 +28.5
3,495,118
Jacksonville _
1,246,234
+1.1
1,343,301
1,360,182
1,345,300
Mobile
Total Middle:. 2,135,285,813 1,774,197,688 +20.3 1,897,133,624 1,688,075,904 Knoxville
1,576,601
1,605,076
+9.5
1,813,445
1,985,542
1,398,781
1,610,125
+8.2
1,717,583
1,858,364
Little
Rock
+14.9
150,793,086
145,436,531
151,362,414
173,251,095
Boston - _
1,175,792
1.675,860
1,693,986 +33.0
2,251,914
6,413,900 +13.1
5,866,900 Chattanooga .
6,675,500
7,252,100
Providence
1,267,685
1.760,892
1,552,793 +33.6
2,074,376
3,764,435 +16.7
2,984,291 Charleston
3,552,469
4,393,301
Hartford
1,365,913
-20.6
2,262,929
1,990,641
1,579.464
Oklahoma
2,442,979 +9.6
2,064,417
2,240,151
2,677,311
New Haven
617,911
+33.2
850,000
3,087,425
4,113,593
Macon
2,054,405 +29.1
1,694,400
1,890,545
2,661,889
Springfield
545,456
2,162,553 +1.8
1,308,168
2,201,193
1,827,256 +11.7
1,289,873 Austin
1,451,880
2,041,166
Portland
307,490
+20.5
639,278
500,661
770,000
,N.C.
Wilmington
2,122,857
1,234,500
2,092,187 +14.4
2,400,874
Worcester
629,663 +20.2
756,394
957,631 Muskogee
888,997
1,209,008 +1.2
1,224,478
Fall River
592,904 +1.4
600,885
1,068,571
686,040 Tulsa
855,872 +11.7
955,831
New Bedford _ _
292,520
468,000 +6.0
495,983
425,000
559,230
449,589 Jackson
577,310 +13.5
655,887
Holyoke..
245,848
238,304 +51.2
318,641
360,301
509,555
423,176 Vicksburg
+3.1
508,284
521,904
Lowell
152,415.120
+14.0
174,467.787
185,981,508
211,970,450
+36.1
Total Southern
379,896
517,076
Bangor
3,217.357,588 ,738,298,832 +17.5 2,861.334.757,2,538,892.9
Total all
Total New Eng. 198,559,916 172,917,518 +14.8 172,322,169 163,087.348
Outside N. Y. 1,366,140,426 1,217,365,153 +12.2 1,114,571,99211,060,859,360
Note.-For Canadian clearings see "Commercial and Miscellaneous News."
870
THE CHRONICLE
[VoL. Lxxxxxv.
cite operators to concede the demands of the mineTHE FINANCIAL SITUATION.
workers would mean an advance of from 75 cents to
It is an encouraging sign to find the executive heads a dollar a ton in the retail price of coal. It
would be
of United States railroads once more taking a firm a hardship to ask consumers to pay the added
price
stand in defense of the interests of their security in view of the difficulties they already labor
under as a
holders and the general public. This week the trunk result of the high level of prices prevailing for all
the
line managers denied the request of the locomotive necessaries of life. In this particular these
wage deengineers for another advance in pay and for a stand- mands have a public
aspect that cannot be ignored.
ardization of wages which• would add still further to The laborer himself must
be the heaviest sufferer. It
the wage accounts of the railroads. Too long these can help him nothing to get higher pay if the added
managers, charged with such great responsibility, have wage is eaten up by advances in the prices of everybeen pursuing the opposite course. Out of a desire not thing he has to buy. If the demands were confined
to
to incur the possibility of a strike, with the resulting only one or two branches or divisions of industrial
interruption of transportation movements—certainly activity, the case might
be different. But they exa serious matter—they have been yielding to one tend to every department and
every agency and avedemand after another on the part of the employees nue of employment. Moreover,
they have been going
with hardly a protest, and certainly with little deter- on, year by year, for a long period
of time.
mined opposition. They would say, of course, that
The same forces, too, have been at work in other
the roads were in no position to stand an increase in countries. At this very moment the industries of
the
wages and then after more or less parleying would British Isles are at a standstill because the workers in
grant an increase after all. This has happened time the coal mines have since the first of the month been
and again.
on a strike in order to enforce the adoption of miniTo salve their consciences and to square themselves mum wage schedules. And the British Ministry
has
with an assumed hostile public sentiment, and not had to yield and get Parliament to adopt
a measure.
unlikely, also, out of a desire to throw the responsi- making Minimum wage schedules
compulsory in the
bility for dealing with the matter upon other shoulders, different districts, though without naming
the minithe course of railroad managers in the past, after more mum. In this country the locomotive
engineers, as
or less negotiation and skirmishing with the employees, we see, want higher pay, and other bodies of railroad
has invariably been to refer the questions at issue to employees contemplate formulating similar demands,
mediation or arbitration by some Government board after.successive increases at other recent periods in the
or officials. This was tantamount to conceding part past. The anthracite miners seem determined upon
of the demands at once, for such Government officials a cessation of work in the endeavor to enforce their
always make it a pradtice to compromise the differ- demands—in this instance, too, after large previous
ences. Public officers may be strictly conscientious, increases. Bituminous coal operators on their part
but obviously they cannot fail to be influenced by the are likewise asking for higher pay. At the woolen mills
fact that for them to deny in toto the demands of the in Lawrence a long struggle between the mill owners
employees would be to jeopardize their political and the operatives has just been brought to a close, the
future.
workers gaining their point in getting a general increase
On the present occasion the railroad managers have in wages. At the cotton mills at Fall River and other
taken the bit in their own teeth and come out in a New England points advances in wages have been
flat-footed manner against the demanded increase. voluntarily made in the effort to forestall trouble. At
And considering the critical pass to which the railroad some mills the operatives have been called out beindustry has been brought as a result of the tremendous cause the proposed increases did not seem liberal
increase in the cost of operations (largely as the result enough. One is tempted to ask, Where and when
is
of advances in wages),it was high time that the mana- all this to end? The wage-earning classes in these
gers adopted a new attitude. We have said that the general and repeated advances in wages are really
stand they have now taken is in the interest of the advancing the cost of living on themselves. Some
general public as well as of the security holders. The learned college professors and students of political
reasons lie on the surface. The demands of the men economy would have us believe that the high cost of
could only be granted on condition that some advance living must be ascribed to the greatly enlarged proin transportation rates should be permitted so as to duction of gold. Why ignore tangible and more defioffset the added expense of operation. But such in- nite causes lying close at hand?
crease in transportation rates would in turn mean an
eventual increase, however slight, in the selling price
In denying the request of the locomotive engineers
of the articles and commodities carried by the railroads. for advanced pay, the managers of the trunk lines also
Transportation enters as a factor into the cost of have the satisfaction of knowing that in the course
practically everything, and hence an advance in freight they are pursuing they must command the unqualirates, though fully justified under the circumstances, fied approval of the Inter-State Commerce Commission.
would inevitably involve a further increase in living This is a fact not generally known. In certain quarexpenses. The cost of living is already so high that ters trunk line officials have been advised to concede
anything that tends in any way to add to it should by the demands of the engineers and make another apall odds be avoided. Thus a double duty rests upon peal to the Inter-State Commerce Commission, in the
railroad managers, first to see that the roads perform hope that the Commission would now give permission
their functions as public carriers; and, secondly, so to for advances in transportation rates. The hope would
administer the affairs of the properties that no indirect be a vain one. The Commission is on record and has
harm shall come,such as would result from further declared itself in no uncertain way against the need
additions to the living expenses of the population.
and justice of further advances in- the pay of railroad
That is one of the insuperable objections also to the employees. Whether the members of the Commission
demands of the anthracite miners for higher compen- would accept their own authoritative announcement
sation. We showed two weeks ago that for the anthra- on the subject if they had a concrete case to deal with,
•
MAR. 30 1912.
TIIE CHRONICLE
we do not profess to know. But a year ago, when
passing on the application of the Eastern and Western
roads for authority to make slight advances in freight
rates, in part compensation for advances in wages,
the Commission was obliged to take under consideration the whole subject of railroad wages and railroad
compensation. It was necessary to consider not alone
what had been accomplished in the past in the way of
raising railroad pay, but also to enter somewhat into
the probabilities in that regard for the future. And
here is what the Commission had to say on the subject:
"Railroad labor, certainly organized railroad labor,
is probably as well paid, and some say better paid,
than labor of other kinds, upon the average. Railroad employees will hardly expect to receive wages
which exceed those paid to other forms of labor for
the same grade of service, and this Commission certainly would not permit the charging of rates for the purpose of enabling railroads to pay their laborers extravagant compeasation, as measured by the general average
compensation paid labor in this country as a whole.
It is likely, therefore, that the labor item of these railroads will not in the immediate future much increase,
unless there should be a general advance in all prices."
The managers of the trunk lines are able to adduce
conclusive figures and arguments against the propriety
of an increase in the pay of the engineers. There is
this further fact to bear in mind that the locomotive
engineers are the highest and best-paid I abor in the
service of the roads. The lines involved in the present
demand of the engineers comprise all the railways
lying between Chicago and the seaboard and north
of the Norfolk & Western Ry. It is pointed out that
the railways represented in this district are fifty in
number and carry about one-half of the passenger and
freight traffic of the United States. In the reply of
the conference committee, issued from the managers'
headquarters, figures are given to show the extent of
the yearly additions to expenses that would result from
granting the demands of the men. It is computed
that the higher wage schedules proposed, together with
changes in working conditions asked for, would increase the pay of engineers on the roads concerned in
the sum of $7,553,792 per annum, or 18.63%.
An increase of 18% is certainly an addition of no
mean importance. It would be equivalent—so the
reply states—"to placing on these properties a lien
of $188,844,818 of 4% securities, which would have
preference over first mortgage bonds, and to just that
extent would lessen the ability of the roads to make
the improvements necessary to increase the efficiency
of their service and to insure greater safety to the
public and the employees." It is also insisted—what
is undeniably true—that "past history indicates that if
these increases are given to the engineers they will be
followed by similar requests from other employees,
which, if granted, would result in actual bankruptcy
to some of the roads and would leave them as a whole
unprepared to meet any sudden increase in the demands for transportation."
The fact is emphasized that "it is less than two
years since the last adjustment of engineers' wages
was made in the Eastern district, which resulted in an
annual increase of engineers' pay amounting to
$3,923,680, or 10.73% per annum."
Bearing upon the ability of the railroads to meet
these recurring demands for higher pay, some conclusive figures in the negative are presented. It is stated
that the reduction of the net revenues by the constantly
increasing expenses of operation has so narrowed the
871
margin which is essential to the solvent existence of
many of the roads that further increases in operating
costs are to be viewed with grave concern. To illustrate the truth of this statement, a little table is introduced to indicate the late year's results on the 52,000
miles of road involved. From this statement it appears that while gross earnings between 1910 and 1911
increased from $1,095,467,589 to $1,114,027,248, net
earnings actually fell away from $357,810,109 to
$330,159,909. In other words, though gross earnings
increased $18,559,659 in 1911, net earnings were
reduced in amount of no less than $27,650,200. Furthermore, though the number of men employed was
8,197 less in 1911 than in 1910, the amount paid out in
wages increased $39,416,802, the total pay to employees rising from $479,364,934 to $518,781,736.
After citing these crushing figures, the remark is
added that "this headlong movement toward financial
disaster cannot proceed unchecked." Obviously this
asseveration does not involve the least bit of exaggeration. It is stating the simple truth. The trunk line
managers are to be congratulated for having stated the
case against an increase so clearly and forcibly and also
for having at length taken the bull by the horns and
resolved not to yield meekly to further demands on the
part of their employees from the effects of which, if
granted, the employees themselves, and wage-earners
generally, would suffer hardly less seriously than the
carriers.
The sorry exhibition of himself that Mr. Roosevelt is
making in his effort to wrest the Republican Presidential nomination from Mr. Taft should make everyone thankful that he no longer occupies the Presidential chair. It also brings reminders of the dismal
and disturbed times when, as the country's Chief
Executive, he delivered himself of other vehement
utterances as the self-constituted champion of the
people. Hardly a day then elapsed that did not
bring a blast from the White House which sent a
tremor through the whole business world. His
bellowings then were unceasing, and, combined with
his radical policies and doctrines, which struck at the
very foundation of our institutions, finally brought
on the panic. His special object of enmity in this
former crusade was "large business" and men of
wealth, who were indiscriminately denounced as rich
malefactors. Every one who differed with him was
mercilessly assailed. The judge who, upholding
Constitutional mandates, handed down a ruling that
did not accord with the Roosevelt desires, was unsparingly condemned. Court decisions were held up to
scorn and contempt. One shudders at the mere
suggestion that this man should even entertain the
idea of wanting to be put back again at the helm of
affairs, to repeat his destructive performances. Fortunately, there is not the remotest chance of his having
his desires gratified.
His present action is serving one useful purpose.
It is giving the public a correct insight into his character. He is revealing himself as a self-seeking politician
who will stop at nothing to accomplish his ends.
He had counted upon a spontaneous uprising of the
people on his behalf. As this has failed him, he is
going about the country trying to manufacture
sentiment in his favor by the same ,methods and the
same appeals as he indulged in when in the White
House he sought to array class against class, and to
incite the enmity of the poor against the rich. Because Mr. Taft is preferred to him by large numbers
872
THE CHRONICLE
Lxxxxiv.
of Republicans, the Taft adherents are held up to see our way
clear to convict the defendants under the
ridicule, and the cry of fraud is raised. That the testimony present
ed."
effect of his campaign may be disastrous to the ReNo alleged trust has been more caricatured and
publican Party is a matter of complete indifference denounced than
this, and none has sinned more
to him. From his attitude it is made apparent that directly and
flagrantly against the people, if the
he would not desist from his course even if the result charges against
it were well founded. Now that inwere to wreck the Party that has honored him so much. dictments,
obtained 18 months ago, against the ten
His selfish actions have now produced a complete heads of the
packing companies for criminal conspiracy
revlusion of public feeling, alienating hosts of his in restrai
nt of trade have been heard and a jury of the
former supporters, and from the recklessness and people has
acquitted, the conclusion is that the jury
baselessness of the allegations against the Taft ad- did not believe
any conspiracy existed, or, at least,
herents, right-minded citizens are put in position to that the
Government was not able to show any. It
judge of the credibility of the statements he has been is signifi
cant that, in their opinion, "the people had
making for years, alleging that business affairs in this not suffere
d," meaning, of course, that the burdencountry are under the control of men of evil influence. some
increase in the cost of living is not traceable to
Of course it is to be regretted that the primary elec- any act of
these defendants. If any class of men are
tion on Tuesday did not work more smoothly and that wicked
ly keeping production down for the sake of
the supply of the absurdly clumsy ballot was tardy greater
profit, the producers rather than the handlers
and not quite ample. The law cannot, however, be would seem
to be the guilty ones; yet there is no comaccused of intentional obstruction, because it was mercial reason
why either grower or packer should preenacted long before the present situation was foreseen; fer a small trade
at high prices to a larger trade at
it also expressly makes provision for "unofficial" lower prices.
The natural inference is that in this
ballots in districts where no official ones can be had. matter, as in many
others, people who are disturbed
The official printer pleads, as excuse for delay,that the by unpleasant conditi
ons put the blame upon the nearwork was physically impossible to execute within the est apparent causes.
Capital has been soonest actime allowed him, and it is beyond denial that time cused, especia
lly visibly combined capital, ever since
was lost in unsuccessful attempts by Mr. Roosevelt to accumu
lation began, and the easiest and most popular
get sundry small changes in his favor which the courts charge
is now that the trusts are the authors of all
refused. He has been calling loudly for primaries, trouble
.
although all competent observers know that a primary
It is significant that this failure of criminal proseis only a form of straw vote, because so few voters cution
of individuals adds one more case to what has
will trouble themselves for it. Now that he has had it, been the
rule. No corporation can be imprisoned and
it has gone overwhelmingly against him; there is no none can
commit a crime, for guilt is always personal.
evidence that a larger vote would have left him still The refusal of
juries, drawn from the common people,
farther behind, but, on the other hand, there is no to convict
individuals of criminal offenses, clearly
reason to suppose that whatever hindrances existed means that, after
all the din of denunciation, the
did not operate as severely against Mr. Taft as against people do not
really believe that corporations and
him.
combinations of capital are wicked. It is said that a
There is no conceivable ground upon which he can corpora
tion is an artificial person, owing its existence
base any just complaint, but it has become charac- to permiss
ive law, and therefore without any natural
teristic of him to insist that nothing is honest, com- rights which
the law is bound to respect; similarly,
petent, fair or finally settled, unless it agrees with him there is some lofty
talk about putting man above prop•and is on his side. So he is fuming and scolding anew, erty. That proper
ty in itself has no rights is readily
charging a general conspiracy to suppress the country- granted, but
all property has owners, and these owners
wide demand for himself as the only exponent of the have rights. Likewis
e, a corporation is an association
right of the people to rule, and even intimating that of natural persons
, and the fundamental principle
the newspapers are "controlled by or directly or in- (even if it
be overslaughed for a time) must be that
directly responsive to those great financial powers that their rights
are not changed by association. Therework in darkness." • As his anger increases, his self- fore, it is
not true that the treatment of corporations
control diminishes.
by the law is solely for the law to decide, merely beThe indications now are that his foray for the cause incorpo
ration is itself according to law. CorChicago nomination is already a lost cause. The man porate
rights are to-day as plainly denied, by the letter
who lugs a personal grievance about with him every- of statute
, as those of the slave were denied; for exwhere soon becomes wearisome and is likely to become ample,
the carrying corporations in this State are now
ridiculous as well. Mr. Roosevelt offers a spectacle required
to obey "any" order of the Public Service
both sad and instructive. Judging by the outlook to- Commission
under penalty of $5,000 for each day's
day, all his struggles and contortions will only pull him refusal.
farther and farther down.
Is it not, therefore, possible that this ending of the
case against the packers may mean not only a lessening
The trial of the Chicago packers, which was begun of the war
upon business but a gradual correction of
early in December and marks the close of a procedure the public
attitude towards associated capital?
extending over nearly nine years, ended on Tuesday
with a verdict of acquittal. The Government put
In the "Times" of last Sunday Mr. Roger Babson
nearly fifty witnesses on the stand and introduced
sets forth, by figures and some graphic diagrams, the
1,488 documents in evidence. The trial was tedious prodigi
ous fire waste in this country. He cites some
and voluminous, its record being estimated to contain conclus
ions of an inquiry made by the United States
five million words. Statistics were evidently overGeological Survey, that in 1907 the 4503/ millions of
done, and one juror is quoted as saying: "We did
waste was more than the total product of the country
not believe the Government had made out a strong in
that year in gold, silver and petroleum, and was
case; the people had not suffered, and we could not ,
nearly one-half the cost of the new building construe-
MAR. 30 1912.
THE CHRONICLE
tion in the year. This relation between the amount
destroyed and the amount expended in new building is
Mr. Babson's strongest point,and he illustrates it by
chart. New construction is not replacement, and not
restoration, except in one meaning of those terms.
New material, turned into usable forms by labor,
"replaces" that destroyed; but the remaining stock of
material is diminished by so much, and the labor expended is unprofitable. As for insurance, that does
no more than to divide the loss among many instead
of leaving it upon one. It is waste and loss none the
less. Nobody would imagine that a term of sickness
has cost him nothing, merely because he has come out
of it alive; and while we Americans are all together
groaning under the increased burdens of living, and
can readily see that a large increase in material products would mollify the burden, we have gone along in
this vast annual fire waste, imagining that it is all
"covered" by insurance, Mr. Babson's analysis adds
more material to the hands of those who are steadily
pushing on the most encouraging factor, the movement for prevention.
873
schemes,has encouraged the lower classes to disregard
the rights of property; but it has received convincing
evidence that power is gradually being builded up
stronger than the Government itself. Party. lines
in Parliament have been very slightly drawn as the
increasing seriousness of the situation has developed.
After the Premier on Wednesday had, "with deep
emotion," announced that negotiations for the settlement of the trouble had failed, Bonar Law, the Opposition leader, declared that the Unionists would place
no obstacle in the way of the Government's proposed
law. He asked, however, what would happen if,
after the bill had passed, the miners should refuse to
work? He urged that in that event "the whole resources of the country must be used to protect the
men who desired to obey the law."
The British Parliamentary program has naturally
been greatly upset by the labor disturbances. The
Budget, however, will be presented on Tuesday next,
and the Home Rule question will soon after come up
in practical form. A straw showing the attitude on
the Home Rule question was contained in the defeat
by the House of Commons on Thursday night, by a
vote of 222 to 208,of the Woman's Suffrage bill, more
generally known as the "Conciliation Bill," which,
had it passed, would have permitted a million women
taxpayers in Great Britain to exercise the franchise.
The same bill received a majority of 167 when it was
in the Commons last year, when the measure was
pigeonholed after passing the committee stages.
Forty-one of the Irish members voted against it this
time, supposedly in the hope of getting an extra week
for debate on the forthcoming Home Rule bill.
The end of the British coal strike and prompt
amelioration of the great distress that has resulted
from it seem definitely in sight. Mr. Asquith, the
Premier, remained firm in his refusal to permit the
inclusion of definite figures for a day's work in the
Minimum Wage Bill, and the measure in its original
form passed the House of Commons on Wednesday,
the House of Lords on Thursday evening and was
signed by the King yesterday. The new law provides,
instead of a specific wage schedule, for the creation of
district boards to arrange a minimum wage for indiThe Chinese loan situation has become even more
vidual districts. The miners are now taking a referthe "Fourendum vote on the question whether they will accept complicated. We explained last week how
"Six-Naa
become
had
of
bankers
resyndicate
latest
Nation"
and
work;
the new situation and return to
Russia,
and
Japan
of
the
by
inclusion
.
syndicate
tion"
affirmative
the
in
be
will
result
the
ports indicate that
OfForeign
Russian
The
others.
the
of
distinct
invitation
on
showing
is
securities
for
market
London
The
the
syndicate
informed
week
improvement at this more favorable turn in affairs. fice has, however, this
it considers the
The form of ballot reads as follows: "Are you in favor that Russia will not participate, as
According to
ory.
unsatisfact
loan
the
of resuming work pending a settlement of the minimum condition of
to China
advances
original
the
reports,
rates of wages in the various grades by district boards St. Petersburg
$1,500,000
and
$1,000,000
between
be
to
intended
Act?"
were
to be appointed under the Mines Minimum Wage
ian
The voting will be secret and returns will probably be at a time. But the competition of the Anglo-Belg
the
forced
China
with
loan
a
place
to
bankers
of
decision
group
The
.
Wednesday
before
next
made on or
a
will be governed by a majority vote, and as the original pace, and the "Six-Nation" syndicate elaborated
of
00,
$300,000,0
Republic
vote to strike was a close one,there appears no ques- scheme to loan the new
tion, especially in view of the intense distress that is which there should be an immediate payment of $225,for national
now prevailing, that the necessary majority will be 000,000. Of this loan, 80% was intended
absence
The
.
armaments
for
20%
and
nt
correimproveme
secured. One usually conservative London
be asto
amount
large
the
and
guaranties
in
suitable
strike
of
by
the
spondent estimates the national loss
it
which,
,
armaments
of
purchase
the
index
to
signed
no
probably
of
is
excess
£20,000,000. There
itself,
to
menace
possible of the amount of distress and starvation that was urged by Russia, would be a
caused the Russian Government to look askance
has ensued during the month of March.
In round numbers the British mines produce about upon the entire loan scheme. Russia's refusal to
one million tons a day,'so that the complete stoppage participate, according to the St. Petersburg adfor the month means that fully 30,000,000 tons are vices that are being quoted, emphasized the fact
unmined that otherwise would have been mined. A that Russia has important interests in Manchuria
considerable part of this coal will have to be made up and Mongolia which were not sufficiently safeFor the
for by increased activity when the strike ends. This guarded by the scheme of the loan syndicate.
new
of
the
plans
financial
is one of the reasons for the expectation that when a moment, therefore, the
condition.
delicate
rather
in
settlement has been reached, the coal regions will be Chinese Republic are
a reworked on a scale probably never before attempted, Negotiations have practically been suspended as
week.
to
we
last
which
referred
loan
Belgian
the
trade
of
sult
and there will also be such encouragement for
Pekin advices state that the ministers of the United
and industry to attempt to "catch up"that a period of
Great Britain, Germany and France on MonprobStates,
in
early
is
Britain
energy
of
one
the
enthusiastic
to the Chinese Government a joint
presented
much
is
day
strike
not
have
to
unlikely
The
abilities.
broader effects than now appear on the surface. memorandum recapitulating the negotiations between
The Asquith Government, with its various socialistic the financial group and the Chinese Government since
874
THE CHRONICLE
Feb. 27, and establishing a strong case of broken faith
on the part of China. The memorandum concluded
with a protest against the Belgian loan. The National
Assembly of China is declared to be strongly opposed
to granting any monopoly to the six Powers. The
Kalgan Railroad, which forms the security for the
Anglo-Belgian loan, was not included in the negotiations with the other Powers, and it was further stated
that the Government had contracted with the AngloBelgians only because the "sextet" had failed to advance the promised installments at a critical moment,
when money was an essential factor in maintaining
order.
Political and military affairs in China continue highly
unsettled. Yuan Shi-Kai, the President, is declared
by dispatches from Tientsin to be ill, suffering from the
excessive use of drugs. Recognizing the impotence of
the existing regime, says a news agency dispatch,
"capitalists of South China are financially backing a
project for the restoration to the throne of the Manchu
Imperial family." The Manchus everywhere are
gathering arms, and many of the princes are said to be
handing over their fortunes in order to make the movement successful. The officials of the Republic appear
to be taking no precautions to prevent the promised
outbreak.
[VOL. Lxxxxiv.
deavoring to bring the Turco-Italian War to an end.
They are now engaged in exchanging notes relative to
the proposed concerted action at Constantinople to
induce the Porte to negotiate an agreement. The
Powers are especially desirous of terminating the conflict, as they believe that the jingo public opinion of
Italy wil force the Italian Government to make a
new naval demonstration which would contain possibilities of international complications. Meanwhile
more or less indefinite reports of a bril.iant Turkish
victory have reached London from a special correspondent at the Turkish headquarters. The ocation
of the battle is not given in the reports, which emanated
in the first instance from the Turkish commander at
Benghazo. The latter c aims that the losses of the
Italian army were 27 officers and 3,500 men killed
and wounded, and that the entire camp equipment
of the Italians fell into the hands of the Turkish troops.
The Turkish commander says the casualties among the
Turks and Arabs numbered only 150 killed and wounded.
In Germany there seems no disposition to accede to
the invitation of Winston Churchill, First Lord of the
British Admiralty, that there should be a mutual
restriction of armaments by England and Germany.
Berlin advices say that there is no doubt that bills
will be submitted to the Reichstag, after the Easter
recess, providing for the military and naval expenditures according to the original program. The retirement of the Secretary of the Treasury, Herr Wermuth,
is generally regretted by the German press, which, regardless of party, declares that it is a fresh proof that
a statesman of real initiative and independence has
not a place in the German bureaucratic system. It is
reported that his support of the German petroleum
monopoly was one of the reasons of his downfall. His
successor, Herr Kuhn, is a sexagenarian bureaucrat.
The situation in Mexico does not improve. President Madero continues to express confidence, but
while the reports that have reached this city regarding
the contests between Federal troops and the revolutionists have not been entirely convincing, there seems
little doubt but that the Government troops have had
some very severe and disheartening defeats in the
State of Chihuahua. Gen. Orozco's success there is
looked upon as quite ominous, and likely to be followed by serious events throughout the Republic, according to State Department reports from the Mexican
capital. Latest advices intimate that the advance of
Secretary Knox is receiving cordial welcome in the
Gen. Orozco, the rebel leader, toward Torreon and course of his visit to the Central American States and
Mexico City has been checked. Press dispatches from the West Indies. He arrived at Puerto Cabello,
Jiminez on Wednesday declared that the final phase Venezuela, on Monday and at Santo Domingo on
of the five days' battle between Government and revo- Wednesday, which was five days in advance of his
lutionary forces had ended on Tuesday night, to all ap- schedule. From Santo Domingo, in accordance with
pearances, in the defeat of the Federals. The rebel his revised schedule, he will arrive at St. Thomas tosuccesses have shaken the confidence of some of the day (Saturday), and will proceed to San Juan, Porto
Washington officials in the easy triumph of Madero. Rico, to-morrow, to Port au Prince, Hayti, April 4;
They are now recognizing the possibility of the over Guantanamo, April 6; Port Antonio, April 9, and
throw of the Madero Government, and the question is Havana, April 11. Mr. Knox in a cable dispatch to
beginning to assert itself as to the correct attitude of the State Department on Monday spoke of the very
the United States in the turmoil and chaos which warm feeling of friendship and hospitality that was
probably would follow the clashing of Presidential as- manifest at all the receptions and entertainments.
pirations of at least three or four ambitious Mexican He said that he believed his visit to Venezuela would
leaders. The State Department at Washington yes- prove highly beneficial.
terday confirmed a report from Mexico City that all
dependable Americans were to be armed for their
Private foreign bank discounts indicate a general
own defense, and that other foreign governments easing up in the Continental markets with the exwere taking like safeguards. It was announced that ception of Paris. There last week's rate of 34%
1
is
Ambassador WilF,on would distribute to the Americans well maintained, and the contango rates for the
1,000 firing pieces, consisting of army rifles and monthly settlements were fractionally above those of
revolvers, now on the way to that city. The Mexican the settlement preceding. The 300,000,000-franc 4%
Government countenances the arming of foreigners, State railway loan, which was offered !ast Saturday,
admitting it to be a necessary precaution against a was, as expected, very heavily over-subscribed—
rough element in Mexico City, which would not hesitate more than 32 fold. It necessarily required an imto take advantage of the dispatch of Government mense amount of detail work to tabu ate these protroops from the capital.
poFals and to return the surplus to those who were
unsuccessful or who received only a portion of their
International politics in Europe continue nervous, subscription. This undoubtedly was argely responsithough it is difficult to detect decisive moves. Paris ble for the strength in the French money market durdispatches announce that the Powers are again en- ing the week. In Berlin rates were quoted by cable
MAR. 30 19124
TIIE CHRONICLE
875
throughout India,
yesterday at a range of 4/@CA% for spot, which through the innumerable bazaars
convenient form.
most
the
in
of
hoarding
4% a week ago. For a means
compares with the s ngle rate of 47
the purposes of
for
gold
make
would
Such
quotation
mintage
bills to arrive after April 1, however, the
people." Mr.
of
0
300,000,00
to
accessible
hoarding
yesterday
during most of the week and at the close
the Governof
action
present
the
that
Frewen
prosargues
in
conditions
easier
was 414%, which indicates
n of silver
importatio
the
d
discourage
of
ment
yesterhas
India
cabled
as
rate,
market
pect. The London open
On
China.
with
day,was33@33'% to arrive for 60 and 90 days' bank- and therefore weakened exchange
increasing
an
throw
must
it
ers' acceptances and 3 7-16% for spot. A week ago the the other hand, he says
of England and other Western
spot rate was 33% and the to-arrive rates were 3 5-16 strain upon the Bank
gold so greatly as to imperil
by
expelling
gold
remains
reserves
for 60 days and 3% for 90 days. Brussels
now obtaining in the
gold
standard
universal
the
at
Amsterdam
and
unchanged for the week at 3
Occident.
named
centres
the
at
3%%. The official bank rates
are: London, 314%; Paris, 33'%; Berlin, 5%, BrusThe Bank of France on Thursday registered an insels, 432%, and Amsterdam, 4%.
in gold and 5,325,000 francs
The weekly statement of the Bank of England on crease of 3,750,000 francs
are
now 3,249,500,000 francs,
holdings
Gold
in
silver.
Thursday showed a net loss in gold coin and bullion
one year ago and 3,458,francs
000
3,241,290,
against
holdings of £62,731, notwithstanding that it pursilver holdings by ThursThe
1910.
in
francs
875,000
on
chased £839,000 of the South African gold offered
0 francs, comparing
806,650,00
were
statement
day's
but
Monday. The total reserve decreased £506,000,
898,275,000 francs
and
1911
in
francs
0
839,450,00
with
improveslight
a
the proportion to liabilities showed
the week decreased
ment, the percentage being 43.27%, comparing with in 1910. Notes in circulation for
the phenomeshowed
43.13% a week ago and 52.94% on Feb. 8, which was 5,825,000 francs, general deposits
000
1,269,993,
to
francs
0
of
increase
nal
538,700,00
the high point of the current year. The total bullion
a
francs
2
741,027,80
with
which
compares
francs,
with
holdings are now £38,274,828, which compares
discounted
Bills
in
1
1910.
francs
616,056,84
and
ago
year
shows
reserve
The
£39,653,236 at this date last year.
a total of £28,230,000, against £30,333,661 one year also registered an increase of 763,625,000 francs,
comago. Loans at the Bank (other securities) were re- making the total discounts 1,900,399,000 francs,
date
at
this
in
1911
francs
994
1,201,496,
with
paring
now
tota
The
week.
the
during
duced by £800,000
deposits
1910.
Treasury
in
stands at £41,098,000, against £37,757,928 one year and 1,136,438,296 francs
and adago and £33,012,129 in 1910. Public deposits for for the week increased 79,700,000 francs
francs.
38,600,000
by
augmented
were
were
vances
the week increased £859,000, but other deposits
The weekly statement of the Bank of Germany,
£2,236,000 lower. Our special correspondent furwas issued on Monday, indicated an increase of
which
movements
gold
the
of
details
nishes the following
marks in the gold item and of 19,518,000
5,866,000
Imports,
week:
Bank
for
the
Bank
the
of
out
into and
£502,000 (of which £7,000 from Australia and £495,- marks in gold and silver combined, making a total of
000 bought in the open market); exports, £150,000 the two metals of 1,279,593,000 marks. Loans regis(of which £50,000 to Java and £100,000 to Argentina), tered a decrease for the week of 27,049,000 marks,
and shipments of £415,000 net to the interior of Great deposits a decrease of 49,672,000 marks, treasury bills
a decrease of 32,016,000 marks and discounts an inBritain.
crease of 21,238,000 marks.
comonly
the
was
late,
of
rule
the
been
India, as has
The local money market is fractionally higher
petitor of the Bank of England at Monday's public
offering of South African gold, taking £200,000 of the and appreciably firmer in undertone. Reserves of the
total of £1,039,000. A rather interesting explanation large New York banks were close to the 25% limit,
of the reason for the continued demand for gold from according to last Saturday's Clearing House stateIndia is contained in an interview with Mr. Moreton ment, and several of the institutions have been comFrewen, M. P., published in a special. cable to the pelled to strengthen themselves this week by reNew York 'Times." "The Government of India adjusting their loans. The expected demand from
in 1910," says the 'Times," quoting Mr. Frewen, Germany, however, did not assume the large volume
"imposed a duty of 8 cents an ounce on all silver bul- anticipated last week. We are informed that a fair
lion imported into India. The importation of silver amount of renewals of German loans was made for
previous y for some years -averaged eighty to ninety short periods on a 6% basis, one of the large banks
millions of ounces annually. The result of the high renewing $2,000,000 at this figure. As high as 7% •
silver duty seemed to discourage importations and the was bid during the week for short loans, but these
hoarding of silver by the natives, and to throw the bids were withdrawn towards the close of the week
who'e demand of India for hoarding purposes upon the and New York bankers were informed that arrangeother metal—gold. The position is one of great and ments had been made for funds in London for the
growing danger." Still quoting Mr. Frewen: "The turn of the quarter year. This is confirmed by the
drain of gold to India at the present time threatens foreign exchange rates, sterling in Berlin being quoted
% marks, while for forward delivery
the most serious consequences in the money markets yesterday at 20.453
were 20.47@20.483/ marks, inclosing
quotations
of
n
the
importatio
the
Whereas
world.
Western
of the
gold into India before the new and high silver duties dicating a movement in favor of London as soon as the
didn't exceed, one year with another, four millions strain is over. Check Berlin in Paris yesterday was
sterling, the importation of gold last year into India 123.30, Comparing with 123.47M a week ago, also sugwas over twenty millions sterling, and for the first gesting a movement of funds from Paris to Berlin.
The April settlements are, of course, an influential
eleven weeks of this year was at the rate of nearly a
in the firmness of the money situation in New
factor
Calat
t
Governmen
The
week.
a
million sovereigns
The banks were to some extent sellers of
York.
for
State
of
Secretary
the
to
applied
now
has
cutta
India for permission to commence the coinage in India bonds during the week, though this was probably
of ten-rupee gold pieces, thus offering to natives, more for the account of their Western correspondents
S6
THE CHRONICLE
Lxxxxiv.
than for their own, as the banks in the interior usually with demand quoted at 4 8725(34 8730, cable transfers
re-enforce themselves in this way at this season to at 4 8770(0 8775 and sixty days at 4 8415 ®4 8425.
enable them to handle the usual spring payments of Lower discounts at London were partly responsible
their customers. The preparations for the quarterly for a dec'ine of about 10 points on Monday and
dividend and interest disbursements have also un demand fell to 4 8715@4 8720, cable transfers to
doubted'y been a factor responsible for the firmer 4 8760@4 8765 and sixty days to 4 8410(0 8420.
undertone in the market. The compilation by the Trading was dull and narrow on Tuesday and rates
"Journal of Commerce" of dividend and interest ruled slightly easier for demand, which closed at
disbursements shows that the Apri payments by 4 8710@4 8715; cab'e transfers and sixty day bills
railroad, industrial and traction corporations will this remained unchanged at 4 8760(0 8765 and 4 8410®
year amount to $150,486,600, an increase of $8,- 4 8420,respectively. Sterling showed renewed weak767,605 compared with April a year ago. Of this ness on Wednesday and rates declined some 15 points
total,dividends will call for $84,386,600, an increasees. for the day, due in part to the large offerings and a
of $3,867,605. This increase is due to anumber of addi- restricted inquiry; final figures were 4 8695@4 87 for
tions to the dividend list and also to some increas demand, 4 8740(0 8745 for cable transfers and
Call money on Friday again reached 3%, which was 4 84@4 8410 for sixty days. On Thursday there
the high level of last week. Nevertheless,call rates have was little activity in exchange operations and the
been remarkably steady, the ruling figure throughout decline was continued, with demand at 4 8690@4 8695
the week not having been Changed from last Friday's and cable transfers at 4 8735(0 8740; sixty days
basis of 23/2%, while 2;N% was the low limit for each ruled unchanged. On Friday the market continued
day until Friday, when 2% was the minimum. weak, with 60 days and demand 5 points lower. The
With the exception of Wednesday, when 2U% was c!osing rates were 4 8395@4 8405 for60 days,48685 ®
quoted, and the 3% rate on Friday, the highest 4 8690 for demand, 4 87354 8740 for cab es. Comfigure each day this week has been 23/2%. Time mercial on blanks was quoted at 4 823/2 ®4 83%
money rates c.ose about 3'4% higher for the week. and documents for payment 4 833.
Cotton
For 60 days the range is 33 to 33/2% and for 90 days for payment ranged from 4 833/2(0 833
4; grain for
it is 33/2 to 39j%, whi'e 3%(0% are the figures for payment from 4 84 to 4 8434.
4, 5 and 6 months. Mercantile paper is in better
supply, both merchants and manufacturers showing • The following gives the week's movement of money
a disposition to prepare for more active business as to and from the interior by the New York banks.
soon as the national political situation shows a further
Received by
Shipped by
Net Interior
tendency to clarify. Quotations, however, have not
Week ending March 20 1912.
N. Y. Banks. N. V. Banks.
Movement.
been advanced from 4®43/2% for 60 and 90 days' Currency
$8,132,000
$4,929,000 Gain $3,203,000
Gold
2,060,000
047,000 Gain 1,113,000
endorsed bills receivable and also for 4 to 6 months
Total gold and legal tenders
$10,102,000
$5,876,000 Gain $4,310,000
single name bills of choice character. Others are
With the Sub-Treasury operatilns and gold exports
quoted at 5%.
the result is as follows:
In sterling exchange the chief factor seems to have
Into
Out of
Net Change in
Week ending March 29 1912.
Banks.
Bank Holdings.
Banks.
been the prevailing belief that a settlement of the
Banks' interior movement as above_ $10,192,000
$5,876,000 Gain $4,310,000
British coal strike will be promptly effected. This Sub-Treas.
oper. and gold exports_
19,100,000
27,350,000 Loss 8,250,000
has evidently released funds on the other side and Total gold and legal tenders
$29.292,000 $33,220,000 Loss $3,034,000
has militated against the demand for cable transfers
The following table indicates the amount of.bullion
that many foreign exchange authorities here a week
ago were expecting to be a feature in connection with in the principal European banks.
remittances for April dividend and interest disburseMch. 28 1912.
Mch. 30 1911.
ments specifically payable in sterling. As a matter Banks of Gold.
Total.,
Gold. I Silver.
Total.
of fact, cables and checks have been the weakest
.£
z
England
38,274,828 39,653,236
38,274,828
39,653,230
diVision of the market this week, having declined 35@ Franco _ _ 129,979,960
32,266,320 162,246,280 129,645,92 33,578,000 163,223,920
Germany.. 45,202,750 17,500,000 62,702,75 43,563,600 16,125,000 59,688,600
40 points, comparing with a decline of 20 points in Russia._ _ 148,373,000 7,226,000 155,599,000 146,580,000 7,265,000 153,854,000
Aus.-Hun. 52,705,000 12,881,000 65,586,000 55,338,000 12,957,000 68,295,000
60-day bills. There were rumors early in the week Spain _ 16,904,000 30,212,000 47,116,000 16,490,000 31,094,000 47,584,000
Italy - - -- 41,927,000 3,720,000 45,647,000 39,703,000 3,575,000 43,278,000
Netheeds 12,140,000 1,123,100 13,263,100 10,878,000 2,408,100 13,286,100
that gold would be shipped to Berlin as a special trans- Net.Beig._
6,754,667 3,377,333 10,132,000 6,279,333 3,139,667 9,419,000
_
4,793,000 4,509,00
4,793,000
4,509,000
action, but no confirmation reached the market and Sweden
6,514,000 6,166,000
Switzerl'd
6,514,000
6,166,000
2,010,000 1,847,000
1,847,000
the decline in foreign exchange rates that has since Norway __ 2,018.000
week 505,584,205108,305,753 613,889,958 500,662,089 110,141,767 610,803,856
taken place certainly places such a special transaction Total
Prey. week 505,653,302 107.481 887 813,135,189501,092.517 109,769,960 610,862,477
outside the range of probabilities. The demand for
new capital in London so far this year has been smaller
than any corresponding period since 1908, which,it is
THE BRITISH COAL STRIKE.
necessary to recall,followed the financial upheaval of
Last Tuesday, after several weeks of virtually con1907. The regular quarter'y compilation by the tinuous negotiations by the British Government, with
London "Economist" of the new capital applications the coal mine owners on the one hand and the miners'
showed a total of only £46,888,000, which compares representatives on the other, the Prime Minister adwith £61,245,000 in •the first quarter of 1911 and mitted in Parliament the failure of his attempt at in£99,255,600 during the first three months of 1910. tervention. Mr. Asquith is reported in the cables to
The disturbances in the British coal regions have have shed tears when he declared that "these efforts
undoubtedly been responsible for this restriction in have so far been unavailing," and with feeling on the
the demands on the London market. The week's gold general problem so strong as it now is, no one in the
engagements comprised $250,000, to be exported to House of Commons seems- to have been surprised at
Argentina next week.
the incident. The breakdown of the conference was
Compared with Friday of last week, sterling ex- on the point which has been the real crux of the conchange on Saturday was practibally unchanged, troversy from the start. The owners were believed
MAR. 30 19;2.1
THE CHRONICLE
877
to be willing, under stress of circumstances, to sub- starvation by the exhaustion of union funds and scarmit to a Parliamentary requirement that a minimum city of provisions, have already been going back to
wage should be imposed below which they should not work throughout the present week. Perhaps 10,000
go in payment of any employee; that minimum, how- of them were engaged in mining coal when the ballots
ever, to be fixed by a special tribunal in each district were sent out to the other miners.
As to what has happened during the four weeks of
of the country. But the miners had demanded in
addition to this that the bill itself should prescribe suspended coal production in Great Britain, it should
a minimum figure of five shillings per day as the wage first be mentioned that an unusual and gratifying degree of orderliness has prevailed. This is explained
of adult workers and of two shillings for boys.
in
part by the fact that the military had been carefully
request
a
such
why
reasons
abundant
There were
a
in advance, but also by the further fact
Such
distributed
employers.
by
accepted
be
possibly
could not
the
mine-owners
that
made no effort to operate their
the
adjustment
for
open
door
no
leave
would
proviso
of the minimum to peculiar needs of a given district properties with non-union labor. The outcome in
or a given colliery; it would, moreover, admit into other quarters has been just what might have been
English legislation a principle of the utmost danger, expected. Food prices have risen to ruinous figures;
for once the precedent is established that Parliament, some districts, notably those inhabited by the poorer
by a sweeping law, should prescribe an arbitrary classes, have been all but cut off from access to good
minimum wage in any given industry, it would be only food. That the drafts upon the savings banks have
a short step for the constant revision, under pressure been enormous has been shown through the outflow
to
of labor leaders, in the direction of raising that mini- of several million dollars from the Bank of England
to
savings
ascribed
clearly
was
mum or applying the principle to other trades. Fur- the provinces, which
thermore, when the conference met for this week's de- bank withdrawals.
Train service on the English raj:ways had already
liberations, the Scotch miners, not content even with
rigidly cut down because of lack of fuel; it was
been
fixed
a
for
the above-mentioned arbitrary stipulation
that, with another week of strike, some of them
stated
prescribed
there
figures
to
that
the
insisted
minimum,
have been compelled to suspend activities enwould
pence
six
and
men
for
added
be
should
day
a
pence
nine
for boys. With that requisition, the conference broke tirely. A very general forced shutting-down in the
manufacturing industry has occurred, and an estimate,
up.
Following this failure of the Ministerial negotiations, doubtless more or less conjectural, has declared that
the original bill, prescribing in principle the fixing of nearly two million laborers outside the coal trade have
the minimum wage, was introduced in the House of been temporarily thrown out of work through suspenCommons. The bill provides for district boards, in sion of production at the mills.
All of these details have shown with mournful diseach of which there shall be two representatives of the
who it is that suffers from an attack on intinctness
chairindependent
an
and
miners
the
of
two
owners,
man chosen by agreement. These boards are to fix, dustry and on the ordinary work of civilized life, by
each for its own district, the arbitrary minimum rate; union labor. But, indeed, it had not been left for
they are allowed to use discretion according to the cir- these inevitable effects to be shown by the strike of
cumstances of the district, and presumably, in the 1912. Thersympathetic strikes" of a year ago in some
natural order of things, their decision will be such as respects carried the crusade against society considat least to leave a profit to the mining enterprises of erably further even than the present coal strike. They
the districts. Otherwise, and necessarily, some or all affected transportation rather than production, alof the mines in such a district would be shut down though the mills also were drawn into the struggle;
and the mine workers obviously be left far worse off but in the end some of the largest cities in Great Britain were practically denied access to the ordinary fathan they were before.
cilities of life. The report of the City of Liverpool
Comof
in
the
House
Members of the Labor party
Board of Health in August showed that from 6,000 to
to
the
probill,
an
amendment
mons first introduced
tons of refuse and garbage had accumulated in
7,000
arbitrary
two
shillings
and
shillings
five
viding the
because the street cleaning service had been
the
streets
conference.
at
the
the
miners
by
for
asked
minimum
This amendment was defeated by a vote of 326 to 83, ordered suspended by the unions. The rise in the
the exceedingly large majority showing the feeling of price of provisions had carried decent food out of the
Parliament as a whole upon the question of such arbi- reach of hundreds of thousands of the poorer people.
trary action. Another Labor member next moved to The mortality returns of one large city showed the
amend the bill in such a way that the minimum rate death of children in the laboring quarter, which in
should not be below the rate at present prevalent in July, despite the excessive heat, had been as low as
any district. This was rejected by a vote of 271 to 21 per week, to have risen during August, when the
101. The bill as originally framed then passed by a city had come completely under control of the strkie
vote of 213 to 48, the Labor party generally refusing to committee, as high as 157 per week. What the actual
vote. On Thursday the bill passed the House of money losses in that more or less futile struggle were,
is even yet a matter of conjecture. It may, therefore,
Lords and yesterday became a law.
be said that the incidents of both years have powermine
the
Following the House of Commons' action,
illustrated to the laboring man himself what
fully
minimum
in
the
accept
voted
to
conference
owners
be the result of that universal strike which the
would
already
The
had
union
who
provision.
leaders,
wage
refused acceptance of that principle in the conference "syndicalists" describe as the happy goal of united
with the Premier, escaped from their di'emma by re- labor, when only a partial embargo on general indusferring to a vote of miners the question whether or not try could have brought about such results as these.
Of the political aspects of the struggle which is now
the Minimum Wage Bill should be accepted as a ground
ended in Great Britain, it is too early as
practically
miners
The
ballots sent to the
for resuming work.
The Government unquestionably fai ed
speak.
to
yet
and
3,
by
next
April
returned
Wednesday,
are to be
y faction of which it was supthe
Parliamentar
hold
to
in
of
be
work.
to
favor
returning
certainly
will almost
in control. It committed
strongly
most
be
to
posed
of
verge
to
the
already
reduced
miners,
the
Indeed,
878
THE CHRONICLE
Parliament to what, even without the extravagant
amendments of the Labor Party, is an exceedingly
dangerous political innovation. Yet the Government has
in no sense been defeated,and in its measures for relief
it was supported in the main by the Opposition Party.
Nevertheless, it is quite impossible that, when the
social, industrial and political balance sheet is summed
up after all this episode, the Asquith Government will
not come in for a heavy share of responsibility for
what has happened. The coal strike, following the
railway and industrial strikes of 1911, will certainly
be judged in the average citizen's mind as a rather unsatisfactory first-fruit of the Government's labor legislation. Concessions in public measures to the Labor
Party, on a scale never previously dreamed of, have
been followed only by arrogant demands for more,
by breach of contracts to obtain them, and by a holdup of the nation's trade and industry in advance of the
discussion of such demands. While this has been happening, and on the very eve of the miners' uprising,
Mr. Lloyd-George, Chancellor of the Exchequer, has
de'ivered himself of some of the most excessively illconsidered speeches in the labor districts which could
well be imagined under circumstances of the kind.
All this will inevitably have a part in the later summing up of the case for and against the present British
Administration.
POST OFFICE DEPARTMENT ACCOUNTING.
Wilkins Micawber, cheerfully insolvent and temperamentally inefficient; yet somewhat appreciative
of the inconveniences of his situation and character,
defined a condition that is only too well grounded in
the philosophy of human experience.
"Annual income twenty pounds, annual expenditure, nineteen, nineteen, six; result, happiness.
Annual income twenty pounds, annual expenditure,
twenty pounds, ought and six; result, misery."
To all existing and future Micawbers we earnestly
commend the study of the official accounting system
that has been perfected in Washington in connection
with the accounts of that great business undertaking,
the Post Office Department. Private opportunities
to meet deficits, disguised by omissions in th&accounts,
may not equal those open to public administrations,
but the private individual who learns to turn a deficit
into a surplus on the face of his accounts will at
least have learned to avoid the conscious existence
of a disquieting record.
The importance of a record showing an excess of
postal receipts over postal expenditures was asserted
by the present Postmaster General as recently as
November 13 1911, in testimony before the Senate
Committee on Post Offices and Post Roads. He
said, in part:
"It is my judgment that the peop'e have much
greater confidence in the administration of a department that makes ends meet, as they say, and I think
that Congress, to whom we have to look for our appropriations, is more willing to listen to the suggestions
and recommendations of the Department, if we are
able to show a balance sheet of that kind. I find that
to be true in my own experience with the members
of the Senate and House." Parce's Post Hearings,
p. 230.
Accordingly, the Postmaster General's annual
report for the fiscal year that ended with June 30 1911
begins' with an assertion that, for the first time in
nearly thirty years, postal expenditures have been
kept within the limit set by postal receipts.
[VoL. Lxxxxiv.
"For the first time since 1883 the annual financial
statement of the Post Office Department shows a
surplus instead of a deficit. The revenues for the
fiscal year ended June 30 1911 amounted to $237,879,823 60 and the expenditures to $237,660,705 48,
leaving a surplus of $219,118 12. At the beginning
of the present Administration in 1909 the postal
service was in arrears to the extent of $17,479,770 47,
which was decidedly the largest deffcit on record.
In the brief space of two years this deficit has been
changed into a substantial surplus."—House Document No. 559, Sixty-Second Congress, p. 15.
Unfortunately, the claim made in the foregoing
extract will not bear the test of an examination in
the light of facts of public record—there was no
surplus in 1911, the expenditures of that year for
postal purposes largely exceeded postal receipts and
the apparent surplus exists on the face of the records
only by the grace of accounting methods that would
not be tolerated in any well-conducted private business and that would be illegal on the part of any
corporation subject to the Inter-State Commerce law,
or to the laws regulating public service industries of
nearly every State where such aws are in force. This
misleading accounting system sets up on the one
side all the receipts of the postal service but upon
the other it omits (first) items accrued but not paid
and (second) items paid out of appropriations that
are not audited in the office of the Auditor for the
Post Office Department. The aggregate of these
omitted items for the year 1911 cannot have been
much less than $3,000,000 and they probably considerably exceeded that figure.
The Committee on Post Offices and Post Roads of
the House of Representatives appears to have discovered the first of these omissions but to have overlooked the second and more extensive. Reporting
the appropriations bill providing for the expenses of
the Post Office Department for the fiscal year 1913,
that Committee, under date of March 4 1912, says:
"The report of the Postmaster General shows a
small surplus for the fiscal year ended June 30 1911,
based on the audited accounts to that date, but later
audited expenditures chargeable to the same fiscal
year show a deficit." House Report No. 388, SixtySecond Congress, p. 1.
In proof of the foregoing, the report contains a letter
from the official auditor, Mr. Charles A. Kram, written
on February 21 1912, in which he states that the
audited expenditures of the year 1911, including all
accounts admitted up to and including February 17
1912, aggregated $238,482,669 54 and estimates that
further audits will add from $20,000 to $25,000 to
this sum. Adding the latter amount,the Committee
places the real expenditures at $238,507,669 54 and
the year's deficit at $627,845 94. This correction
of the accounts is fully warranted, and effectually
disposes of the contention that postal receipts now
pay all postal expenses. But it does not go far
enough. Other omissions in the accounts greatly
exceed those to which attention has been called by
the Committee.
The real clue to the misleading system of accounting,
so exploited as to create the appearance of at least a
near approach to an equation of receipts and expenditures, is found in the fact that the term "audited
accounts," as used by both the Postmaster-General and
the Committee, refers to those accounts only which
are audited by the Auditor for the Psot-Office Department. The Auditor for the Treasury Department
audits other expenses of the postal service, and these
MAR. 301912.]
THE CHRONICLE
879
measure justify the rather
expenses are not referred to in the Postmaster-General's State railways which in a
has made as to the form
it
which
ts
requiremen
rigid
service,
the
of
cost
of
report, or included in his figures
shall be kept, but
nor have they, apparently, been considered by the and manner in which their accounts
to those underas
ties
Postal Committee of the House of Representatives. are its duties and responsibili
t functions
Governmen
recognized
These omissions include the expenses •of the office takings which are
intelligent
an
is
asked,
be
may
it
How,
less
exacting?
of the Post-Office Department at Washington, not
adminisofficial
of
efficiency
the
of
public
judgment
four
even the salary of the Postmaster-General or the
and
receipts
of
records
the
if
to
formed
be
tration
items
the
Assistant Postmasters-General being among
where
surplus
a
show
to
made
be
may
nts
disburseme
official
in
the
stated
expenses
making up the aggregate
Doubtless a plain record of
report of the Department, all the expenses of the office a deficit actually exists?
citizen might read and comwhich audits the postal accounts, and the salary of the plain facts that every
to some public officers,
irksome
Assistant Attorney-General assigned to postal work. prehend would be
brilliantly efficient if
less
appear
might
records
It is impossible now to ascertain the amounts of these whose
their susceptibilities
but
was
truth
disclosed,
the
all
expenses for the fiscal year 1911, but the Commission
with the
compared
when
scarcely
important
are
on Second-Class Mail Matter, consisting of Justice
n to
informatio
reliable
giving
of
importance
profound
given
has
and
Mr. Wheeler,
Hughes, President Lowell
them for the fiscal year 1908, and they certainly are Congress and to the general public.
The present system is meaningless and might easily
no less at the present time. In that year the so-called
y
"audited expenses" amounted to $207,528,222 11, and conceal, if it does not, indeed, promote, inefficienc
of
officers
the
it
enables
At
least
ce.
extravagan
the expenses which the Commission said should be and
his
added (House Document No. 559, Sixty-Second Con- public administration—like Micawber, except in
flattering
a
souls
their
to
lay
o
',moods—t
despondent
gress, pp. 76-77) included the following:
unction of success warranted neither by the facts nor
Amount expended under legislative Act for the
It is much easier to conceal a
$1,622,564 24 by their exertions.
Post-Office Department
deficit by omissions in the accounts than to do away
Amount appropriated under legislative Actfor
with it by organizing economies. While the way to
the office of the Auditor for the Post-Office
824,870 00 the former expedient is open, the incentive to accomDepartment
Amount expended under legislative Act for the
plish the latter is appreciably minimized.
office of the Assistant Attorney-General for
the Post-Office Department
5,000 00
FAVORING STATE TRAFFIC TO THE
DETRIMENT OF INTER-STATE.
Assuming, then, that the omitted expenses of the
By a more than ordinarily convincing course of
year 1911 were no greater than those of the year 1908,
though by a divided vote-4 to 3—the
the account for 1911 may properly be re-stated as reasoning,
Commerce Commission has just laid down
Inter-State
follows:
the rule that a State cannot regulate railroad rates on
Expenses admitted by the Postmaster-Gentraffic moving wholly within its borders in a manner
$237,660,705 48
eral
and with the desire to affect injuriously a competing
Additional "audited expenses" admitted by
846,964 06 point outside of the State, and that an inter-State
Auditor Kram
Treasury
for
Auditor
carrier cannot avoid its obligations under the laws of
Expenses audited by
2,452,434 24 Congress by yielding obedience to an order of State
Department
$240,960,103.78 authorities having such an object in view. We need
Total expenses
237,879,823 60 hardly say that the question is one of transcendent
Postal receipts
. The issue presented in this instance is
$3,080,280 18 Importance
Deficit
somewhat akin to that raised in the Minnesota rate
The difference between a surplus, even so small a cases, which are now before the United States Supreme
surplus as $219,118 12, less than one-tenth of one per Court on appeal. In these Minnesota cases Judge
cent of the receipts, and an actual deficit of not less Sanborn held the State rates unconstitutional on the
than $3,080,280 18, is vast. But it is not the actual double ground that they were non-compensatory and
amount of the variation between the income account violated the commerce clause of the Constitution,rinassubmitted to Congress and to the public that is of the much as the natural effect of the rate schedules which
principal importance. The existence of such a false the State sought to impose was to burden Inter-State
and misleading system of official book-keeping is the commerce, and to attempt to regulate the latter is
fact of paramount significance. The Government outside the province of a State.
There is this difference, however, between the presaccountants, in excluding from the account the salaries
its
of
cost
the
case and the Minnesota cases,that in the latter the
ent
postal
the
service,
of
chief
officers
of the
whole accounting system, and other items of actual general object was simply to secure lower passenger
expense, are doing precisely what a railway corporation and freight rates and no discrimination, apparently,
would be doing if it stated its operating income without was intended against outside traffic, whereas in this infirst deducting, as operating expenses, the salaries stance there is a distinct and avowed purpose to help
of its President, other general officers, and the cost and protect the industries and jobbing centres of the
of its principal offices of administration; except that in State as against competition from without the State.
the case of the railway a statute would be violated, Thus an element appears which is lacking in the other
and there is, it appears, no statute compelling the instance, and which made it a foregone conclusion
that the decision would be adverse to the contention
Government to keep correct accounts.
Whoever notes this exception is pretty sure to in- of the offending State. The case is that of the Railroad
quire why the Government should not take at least a Commission of Louisiana against the St. Louis Southmoderate dose of the medicine it has so liberally re- western Railway Co. The prevailing opinion is by
quired private enterprise to swallow. Congress un- Commissioner Lane, and the importance of the,matters
doubtedly has duties to perform in relation to inter- involved appears from the fact that,of the remaining
Total
$2,452,434 24
880
THE CHRONICLE
[VoL. Lxxxxiv.
six members of the:Commission, five go on record,each
country has known no:State lines, we have enjoyed
with some observation of his own.
freedom of trade between the people of the various
Commissioner. Lane points out that the gravamen States,
and our railroad systems have been constructed
of the complaint is that the carriers make rates out to
convey a national commerce. He proceeds as
of Dallas and other Texas points into Eastern Texas follows:
which are much lower than those which they extend into
Texas from Shreveport, La. A rate of 60 cents carries • While chartered by the States, they have become
first-class traffic to the eastward from Dallas a dis- the inter-State highways of the United States. They
tance of 160 miles, while the same rate of 60 cents are the roads of the whole people and not of any part
will carry the same class of traffic but 55 miles into or section of the people. Congress has commanded
Texas from Shreveport. The Railroad Commission of that all carriers which engage in inter-State commerce
shall be linked together as through routes; that they
Louisiana brought the present proceeding under direc- shall provide reasona
ble facilities for operating such
tion of the Louisiana Legislature for two purposes: routes; that they shall establish and
enforce just and
(1) To secure an adjustment of rates that will be just reasonable classifications of property for transportation
and reasonable from Shreveport into Texas; and (2) with reference to which rates, tariffs, regulations, or
to end, if possible, the alleged unjust discrimination practices may be prescribed (Section 1); that they
practiced by these inter-State railroads in favor of shall construct switch connections with any lateral,
branch
Texas State traffic and against similar traffic between shipper line of railroad, or the private side-track of any
tendering inter-State traffic for transportation
Louisiana and Texas. The railroads denied that the (Section 1); that they shall
not discriminate between
rates out of Shreveport are unreasonable, but placed persons (Section 2), or between connecting
lines
their defense mainly upon the proposition that they (Section 3); that in time of war or threatened war
are compelled by the Railroadrommission of Texas to preference shall be given to military traffic; that the
books and files of such carriers shall be open to the ineffect the discrimination involved.
The Railroad Commission of Texas was not made a spection of the Federal Commission (Section 20); that
the Commission may have power to prescribe just and
party to the proceeding,butfrankly declared its position reasonable rates, classific
ations,
to be one of protection to the State's own industries and tices; fix the division of joint regulations and pracrates in certain cases
communit es. This policy it has endeavored to make (Section 15); prescribe a uniform system of account
s
effective by vigorous action on its part. The Texas and the manner of keeping the same (Section 20); and
Commission contends that Shreveport enjoys now, and that the initial carrier shall be responsible for loss or
has for years past, very low car-load rates from north- damage to property caused by it or by other carriers
over whose lines such property may pass (Secern and eastern points, much lower than the car-load tion 20).
rate on the same commodities from the same points to
By all these provisions of the law, as by others,
Texas jobbing points. These car-load rates in, plus Congress has clearly manifested its purpose
to unite
the local rates out, to Texas points gives Shreveport, it our railroads into a national system. The law acts
was argued, an advantage over the Texas jobber, and only on those which do an inter-State business; but in
to offset this the Commission adopted an adjustment the conveying of property destined from a point in
of rates in Texas so as to overcome the advantage. one State to a ppint in another,this brings within the
control of Congress all such carriers as do not
But Commissioner Lane argues that it is not the func- exclude
themselves from participating in such
tion of a railroad to equalize the commercial advan- traffic.
tages of cities. If Shreveport is so situated by reason
Mr. Lane argues that if a State by the exercise of its
of her position on the Red River and her proximity to
lawful
power establishes rates which the inter-State
the Mississippi that the railroads serving her are justicarrier
makes effective upon State traffic, such
fied in extending to her inbound rates which are lower
carrier
does
so with the full knowledge that the
than those extended to Dallas and other cities in
Texas, this is her advantage, of which she may take Federal Government requires it to apply such rates
full benefit. The carriers may not say that they will under like conditions upon inter-State traffic. He
absorb in the outbound rates such advantages as holds that it is not merely the commerce which is
Shreveport has upon her inbound rates. If the in- confined to a single State which is State commerce,
bound rates to Shreveport are compelled by natural but that which "does not affect other States." To
conditions, the discrimination in her favor is not undue. say that an inter-State carrier may discriminate
If, however, this is an artificial relation, established against inter-State commerce because of the order
by the railroads, it is unlawful. If natural, the of a State Commission would be to admit that a
railroads certainly should not destroy it. If artificial, State may limit and prescribe the flow of commrece
it never should have been established and should now between the States. He adds:
be removed. The Commerce Commission, however,
And
does not pass upon the relation between rates into rates if one State may exercise its power of fixing
so as to prefer its own communi
Shreveport from the North and East and those exten- may do so. There would thus ariseties, all States
a commercial
ded by the carriers to Texas points. If Texas com- condition more absurd and unbearable than that
munities have just reason to complain of such relation- which obtained prior to the Constitution, when each
ship, hearing will be given them and the power of the State sought to devise methods by which its comCommerce Commission exercised to correct any wrong merce could be localized. How utterly incongruous
the result if the inter-State carriers of Ohio should be
which may exist.
allowed to make rates
The Commerce Commission rests its decision squarely so confine the commerwithin that State which would
ce of its communities
on the question of the right of the Texas Commission exclude on equal terms that of Buffalo or of as to
Pittsto regulate rates on traffic moving entirely within State burgh; and what national system of regulation could
boundaries so as to discriminate in favor of State there be if inter-State commerce could be discrimintraffic and against inter-State traffic. It rules strongly ated against after such fashion? Manifestly, Congress
against this contention. Commissioner Lane says, has dealt with the railroads of the country as servants
of a national commerce and has accordingly laid
with much force, that, under the protection and down
the rule of fair play to which they must conauthority of the Federal Government,commerce in this form.
MAR. 39 1912.]
THE CHRONICLE
881
The conclusion is that Section 3 of the Inter-State
A DECADE'S GROWTH IN OUR INDUSTRIES.
Commerce Act, forbidding undue discrimination in
Proof of very satisfactory growth in the manufacfavor of or against any person or locality, applies
to
as
turing industries of the United States in the latest
not only as to two inter-State hauls, but also
other
the
decennial period for which statistics have been coland
two hauls one of which is inter-State
in
is furnished by a bulletin issued this week by
rates
lected
carrier's
the
intra-State, and the fact that
presented gives
the latter case are established by a State commission the Bureau of the Census. The data
average numthe
does not relieve the carrier of the paramount duty for each industry included not only
of products,
value
the
and
1909
which rests upon it, irrespective of its obligation to ber of wage earners in
by dee
(obtained
manufactur
by
the State, to so adjust its rates that,as to inter-State but the value added
products),
of
value
the
from
materials
es,
of
cost
ducting
communiti
traffic, justice will be done between
n with the number emregardless of State lines. "The effective exercise the latter item, in • conjunctio
a truer measure of
considered
obviously
makes
being
ployed,
commerce
inter-State
of its power affecting
than the gross
necessary the assertion of the supreme authority of the the relative importance of the industry
should be exit
National Government, and Congress has approp- value of the output. The bulletin,
various manuthe
of
all
priately exercised this power in the provisions of the plained,does not give in detail
includes all
but
country,
the
of
Act touching discrimination." It is Mr. Lane's con- facturing industries
a gross
having
those
zing
the
particulari
of
them,
respect
tention that an inter-State carrier must
general
A
rs.
dolla
of
millions
100
it
of
law
of
value
products
State
to
Federal law, and if it is also subjected
that
appears
it
this
from
and
doing
given,
is
total,
without
however,
can
it
so
as
far
in
that
must respect
an
average
whole
a
as
industries
authorin
ing
our
manufactur
National
the
under
obligations
its
to
violence
ity. The inter-State carrier which adopts a policy, of 6,615,046 wage earners were employed in 1909, an
even under State direction, that makes against the increase of 40.4% over 1899; the value of products
inter-State movement of commerce, must do so, he reached $20,672,052,000, or a gain of 81.2%, and the
says, with its eyes open and fuly conscious of its value added by manufacture was $8,530,261,000, or
responsibilities to the Federal law which guards com- 41.5% of the gross output for the year. This last
percentage, while seemingly large, is slightly under
merce "among the States" 'against discrimination.
Commissioner Prouty and Commissioner Clark that recorded by all our industries in 1899.
While this general statement is of course gratifying,
express concurring opinions. Mr. Prouty says that
while the Commission cannot establish and should not special interest attaches to the expansion in individual
attempt to establish, directly or indirectly, a State lines of activity. Although directly employing a com,
rate, it must in the exercise of the duty put upon it paratively small force, due to labor-saving machinery
ranked
ng
industry
meat-packi
and
g
slaughterin
whether
the
by the Inter-State Commerce law determine
the discrimination exists, and in doing that it may first in the value of products in 1909, that item standin
and should examine the State rate in comparison with ing at $1,370,568,000, against only $790,253,000
by
added
value
the
the inter-State rate. Commissioners Clements, Har- 1899, an increase of nearly 74%;
lan and McChord file dissenting opinions, and their manufacture was in each case low—$168,740,000,
position, speaking generally, seems to be that the against $103,392,000. At Chicago there was actually
situation here created is one for Congress to deal with a decrease in the number employed in 1909 as comand that the Commission under existing law does not pared with 1904, but the value of products advanced
possess authority to interfere in view of the provision from 2703/b million to 325 million dollars; part of this
of Section I of the Act, which declares: "That the gain is to be ascribed to the increased cost of cattle
provision of this Act shall not apply to the trans- slaughtered. Kansas City also shows a marked inportation of passengers or property or to the receiving, crease in the value of output, as do Indianapolis and
delivering, storage or handling of property wholly St. Louis. Under the Census of 1889,slaughtering and
within one State and not shipped to or from a foreign meat packing returned a gross output of on y $564,country from or to any State or Territory" . . . 667,000 and in 1879 but $303,562,000.
In the bulletin before us the iron and steel industry,
In the judgment of Mr. Clements, the Commission is
to the fact that the various branches (steel works
read
owing
to
ion.
g
by
interpretat
in
undertakin
justified
not
out of the Act an important provision in order to meet and rolling mills, blast furnaces, wire and tin and terne
a situation which has developed and which, as he plate) are considered separately, gets a smaller place
views it, can only be reached by additional legislation. than that to which it is entitled. But, combining the
Commissioner Harlan expresses himself much to the lour branches, we have a total product even greater
same effect, saying that Congress in aid, or rather in than that shown by slaughtering and meat packing.
protection, of inter-State commerce may forbid dis- Specifically, in the manufacture of iron and steel
criminations by a railroad or other instrument of inter- 301,942 wage earners were employed in 1909, against
State traffic in favor of State traffic. This, however, 227,881 in 1899, according to the Census report of
in his estimation, Congress has not yet undertaken that year, the value of the product being $1,509,to do. Commissioner McChord objects to the majority 608,000 and $845,348,000, respectively; the latter,
opinion on the same and also upon broader and more moreover, not far from double the result for 1889.
general grounds, but we have not the space to go into Here the value added by manufacture, although
was
an analysis of his views. Final determination of the greater in proportion than in slaughtering, (kc.,
against
whole,
matter will not be obtained until the case has been nevertheless only about 29% of the
passed upon by the United States Supreme Court. 34% in 1899. In this industry there has been striking
In the meantime considerable light, no doubt, will be deve opment pretty much all along the line in recent
shed upon the probable attitude of the Court in this years, and not the least important phase of it has been
case by the stand it takes in the Minnesota rate cases, the phenomenal increase in the demand for our manuwhich will come up for final adjudication long before factures from abroad. In 1911 we exported 250 million
the present Inter-State' Commerce case can find its dollars in value of iron and steel products; in 1901
only 102 millions.
way to the same tribunal.
882
THE CHRONICLE
[VoL. Lxxxxxv.
Foundry and machine shop products, the next in in 1889, to 40,890 in 1899 and 87,256 ten years later.
,order of prominence in value of output, mark a de- In the meantime the value of the product, which stood
cided contrast with the lines a'ready referred to in at $2,655,036 in the first-named year, rose to 19
that the value added by manufacture represents a millions ten years later, to 91 millions in 1899 and to
larger part of the total value of the products than does over 221 millions in 1909. Paper and wood pulp is
the cost of material used. The number employed rose another industry in which the number employed and
from 350,327 to 531,011 in the ten years from 1899 the output exhibit very encouraging expansion.
to 1909 and the value of products from 645 millions
Passing further comment upon the individual lines
of dollars to 1,228 millions. Lumber and timber of manufacturing activity referred to in the bulletin,
products is another line of industry in which there we present a compilation showing for 20 leading inhas been a most notable advance. In 1879 the num- dustries of the country the number of wage earners,
ber there employed was but 185,487, against 356,887 value of products and value added by manufacture
in 1899 and 695,019 in 1909. In the meantime the as ascertained by the Bureau of the Census for 1909,
value of products has risen from 307 million dollars comparison being made with results taken from the
to 735 millions and 1,156 millions. In these articles Census report for 1899. We add a line to show the
also, as with iron and steel, our foreign export trade total of all industries, the aggregates for 1899 in this
has increased very largely.
instance being based upon the percentages of change
The product of flour and grist mills exhibits an given in the 1909 bulletin.
important gain in the ten-year period 1899-1909,
although the number employed increased very mod1909.
1899.
Value
erately. With 37,073 wage earners in 1899, there
Value
Average
Value Added by Average
Value Added by
No.Em- Products Mfr.,d.le No. Em- Products Mfr.,&c.
was an output valued at 560% millions of dollars,
Plolled. (in thou- (in thou- played. (in thou- (in thousands). (sands).
(sands). sands).
against 39,453 hands and $883,584,000 in 1909, the
$
$
$
$
value added by manufacture being about one-seventh Slaughter.&meat pack 89,728 1,370,568
168,740 69,441
790,253 103,392
and Steelof the who'e. It is perhaps unnecessary to say that Iron
Rolling mills, &c_ _ g40,076
085,723 328,222 183,249 597,212 206,317
Blast furnaces
38,429 391,429 70,791
39,358
206,823
75,287
in this case increasing production has gone to supply Wire
mills
18,085
84,486
23,943
1,603
9,421
2,407
Tin
plate,
&c
5,352
47,970
6,081
3,671
31,892
5,164
requirements
of
our
rapidly
the
augmenting populaTotal
iron & steel 301,942 1,509,608 429,037 227,881
845,348 289,175
tion. The demand for and the efforts to supply Foundry, &c.,
prod. 531,011 1,228,475 688,469 350,327 644,991 358,633
Lumber, &c., product 695,019 1,156,129 648,011 356,887a 735,176 317,325
printed matter, such as books, newspapers, &c., is Flour
mills, &c., prod. 39,453 883,584 116,008 37,073 560,719 84,893
& publishing 258,434
737,876 536,011 162,992
347,055 260,199
indicated by the large gains shown in the printing Printing
Cotton goods, includ.
cotton small wares_ 378,880 628,392 257,383 302,861
339,200 162,648
and publishing industry in recent periods. That in- Clothing, Mona
239,696
568,077 270,562 191,043
415,256 217,514
' Women's
153,743 384,752 175,964
83,739
150,340 74,634
shoes, &c
198,297
• dustry employed in 1879 only 58,506 wage earners Boots,
512,798 180,060 142,922 261,028 91,424
Woolens & worsteds
162,914
419,826 146,360 125,901
238,745 90,658
Tobacco
manufacture.
166,810
416,695 239,509 132,623
263,977 170,993
and the product was valued at less than 100 million Cars, steam & street,
and gen. shop condollars; in 1909 the figures had risen to no less than strue.,
&d.,not incl.
open
.
I
258,434 and $737,876,000. From a special bulletin establishments
by steam RR.cos
325,260 529,331 251,165 214,715 325,425 145,840
Bread & bakery prod_ 100,216 396,865 158,831
60,271
175,657 80,436
covering printing and publishing issued at the close Copper
smelt. & rein_
15,628 378,806
45,274
11,324
165,131
42,957
Liquors, malt & distill 61,009
579,429 446,856
43,254
334,068 267,246
of 1911, we learn that there were in 1909 some 22,143 Leather,
tanned, &c_
62,202 327,874
79,595 52,109
204,038
49,038
cheese & connewspapers and periodicals in the United States, being Butter,
densed milk
18,431
274,558 39,012
12,865
131,199
22,048
Paper & wood pulp
89,492 267,657 102,215 49,646
57,296
127,326
issued at daily or other regular intervals, with an aggre- Elec. mach. & supp
87,256 221,309 112,743
91,349
40,890
42,432
gate average circulation per issue of 164,468,190, or Total 20 industries_ 3,975,421 12,792,6005,091.8002,668,764 7,155,281 2,928,781
an increase of practically 10% over 1904.
Total all industries_ 6,615,046 20,672,0528,530,261 4,711,571 11,408,418
Cotton goods manufacturing, while exceeded only
by lumber and timber products and foundry and maA further matter of interest is the relative position
chine-shop products in the number of operatives em- of the various States in our manufacturing industries.
ployed, is outranked by six other industries in the Information on that point is furnished in a bulletin
value of products. At the same time that value rose just received, which indicates that New York alone
from 339 millions in 1899 to 628 millions in 1909, and furnished products of the value of 3 1-3 billion dollars
was largely a measure of the expansion of the industry in 1909,or about 1-6 of the whole amount, and 80%
at the South. Clothing, both men's and women's, greater than in 1899, the average number of wage
furnished a means of livelihood to a much larger num- earners employed being 1,003,981, or• 38.1% more
ber in 1909 than in 1899, with the value of the product than ten years ago. Pennsylvania, with products
about66% greater and the value added by manufacture valued at 2/
5 8 billions, or 59.2% in excess of 1899, and
47% of the whole. The boot and shoe industry, in employing a force 32.2% greater, ranks second, with
which Massachusetts -stands pre-eminent, as it does Illinois, Massachusetts, Ohio and New Jersey ,followin cotton manufactures at the North, almost doubled ing, these being the only States showing an output
its product between 1899 and 1909, with only a mod- from manufacturing establishments in excess of one
erate increase in the number of hands, and the same billion dollars. In all cases notable gains during the
is true of woolens and worsted goods.
ten-year period appear. The South makes. a very
The value of tobacco manufactures returned as of satisfactory exhibit, the volume of products ranging
5 millions of dollars in Oklahoma to
1909 was 416 millions, against 264 millions in 1899; in value from 53%
bread and other bakery products, 397 millions, against 272% millions in Texas, with the augmentation, as
1755
% millions; liquors, malt and distilled, 5793' compared with 1899, running all the way from 87.8%
millions, against 334 millions; leather, tanned, curried to 560%-the latter in Oklahoma. The Far Western
and finished, 327% millions, against 204, and butter, States also give an excellent account of themselves,
cheese .and condensed milk, 2743 millions, against Ca ifornia reporting a value of products of $529,761,000,
131 millions. The manufacture of electrical ma- or 105.8% more than in 1899; Washington, $220,746,chinery, apparatus and supplies has, with the rapidly 000, or a gain of 211.7%; Oregon, $93,005,000, an exaugmenting use of electricity, not unnaturally made cess of 154.2%; Utah, $61,989,000, an augmentation
phenomenal strides. In 1879 the number employed of 244.7%, and Idaho, $22,400,000, or an increase
in the industry was only 1,271, increasing to 8,802 of 646.4%.
MAR. 30 1912
THE CHRONICLE
883
the basis of the report I now recommend that Congress proceed to a consideration of this schedule with a view to its revision and a reduction of
its rates.
I base this recommendation on the declaration of the platform on which
I was elected, that a reasonable protective tariff should be adjusted to the
difference in cost of production at home and abroad.
• The report of the board shows the difficulty of stating in general terms
difference in costs of production for a great variety of cotton manufactures.
These differences vary widely according to the character of the particular
abric. In the manufacture of cotton cloth there are three main branches
of the industry—spinning, weaving and finishing.
The report shows that the cost of spinning cotton yarn in this country
s greater than in the leading competing country. In the case of ordinary
warp and filling yarns, forming the bulk of the production of the domestic
industry, the foreign cost of turning cotton into yarn is shown to be about
sale.
previous
Last
Close.
High.
Low.
70% of the domestic cost.
Shares. BANKS—New York.
Mch, 1912— 610
613
613
613
• The duty on these yarns is two or three times in excess of the difference
•10 America, Bank of
Mch. 1912— 440
450
450
in cost of production. On some highly specialized yarns and on yarns of
20 Chemical National Bank_ _ _ _ 450
437
1912—
Mch.
435
445
435
the highest count—that is, of greatest fineness—the duty in some cases
•13 City Bank, National
Mch. 1912— 206
207 34 206
about equalizes the difference in conversion costs.
.75 Commerce. National Bank of.. 206
176
In many cases, however, on the higher grades of yarn which are produced
3 N.Y. Produce Exch. Bank_ _ 17534 17534 175 34 Dec. 1911—
in this country, the duty is in excess of the difference in cost of production,
TRUST COMPANIES—New York.
1911-1910
Feb.
1047
1047
1047
though by a much less amount than in the case of ordinary warp and filling
4 Central Trust Co
April 1911— 300
323
323
323
yarns.
7 Fulton Trust Co
Jan. 1912— 405
415
415
415
The difference in the cost of weaving yarns into cloth as between this
10 Metropolitan Trust Co
July 1911-1050
country and its chief competitor varies according to the character of the
7 N. Y. Life Ins. & Trust Co_ _1030 1040 1040
1911-1240
May
1325 1325 1325
fabric. In the case of many cloths of plain weave, the American cost of
2 Union Trust Co
Dec. 1910-118534 weaving seems to be lower than the foriegn cost, due to the greater number
1132 1132 1132
2 United States Trust Co
TRUST COMPANIES—Brooklyn.
of looms tended per weaver in this country. This reduces the labor cost
May 1911— 276 • per yard, despite the higher earnings of the American weaver. This con273
273
273
90 Hamllton Trust Co
1911—
10034
May
150
150
150
25 Nassau Trust Co
clusion is further substantiated by the fact that cloths of this description are
sold by the domestic manufacturer in this country at prices as low as those
Stock
Exchange.
the
Sold at
charged by the foreign manufacturer in his own country. In proportion,
—Reports to the effect that the Treasury Department at however, as the fabric becomes more complicated (and therefore permit of
American cost of production increases. In
Washington had ruled that private banks were exempt from fewer looms per weaver), the of
complicated weaves,the cost of weaving is
of most fancy fabrics
case
the
the provisions of the Corporation Tax recently appeared in higher in this country, but on such fabrics the present duties are in excess
the Indianapolis papers. Upon inquiry made to the office of any difference in cost, and in many cases are in excess of the total con-
BANKING, FINANCIAL AND LEGISLATIVE NEWS.
—The public sales of bank stocks this week aggregate 121
shares, of which 98 shares were sold at the Stock Exchange
and 23 shares at auction. The transactions in trust company
stocks, all auction sales, reach a total of 147 shares. Twenty
shares of Chemical National Bank stock were sold at 450, an
advance of 10 points over last week's sale price. The trust
company stocks sold were mostly those that are very infrequently dealt in, the last previous sale in every instance
but one having been made ten months or more ago.
of the Commissioner of Internal Revenue we learn that no
Treasury decision as to the liability of such institutions has
been made. The Commissioner's office has, however, held,
in correspondence, that banks which are not incorporated or
which are not organized under and which receive no advantages from the statutory laws of the United States, or of any
State or Territory,are not liable to the Corporation Tax. This
information is conveyed to us in the following letter from
J. C. Wheeler, Deputy Commissioner of Internal Revenue:
TREASURY DEPARTMENT.
Washington, March 20 1912.
William B. Dana Company, New York, N. Y.:
Gentlemen: Your letter of the 16th inst., relative to the liability of
private banks under the provisions of Section 38 of the Act of Aug. 5 1909,
commonly known as the Corporation Tax Law, has been received,and in
reply you are advised that there has been no Treasury decision covering
the question as to the liability of such institutions, but it has been held by
this office in correspondence that banks which are not incorporated or
which are not organized under and which receive no advantages from the
statutory laws of the United States or of any State or Territory thereof are
not liable, under the law referred to, to special excise tax. This ruling was
based upon certain conditions prevailing in the State of Indiana, where a
number of private banks were organized but not incorporated, and a law
was enacted by the State Legislature placing such banks under State supervision. This Act did not purport to incorporate these banks or to give
them any special advantages as to the liability of their owners or shareholders, but was Intended more for the protection of depositors and patrons
of the banks. Hence it is held that banks of this character, not being incorporated and deriving no powers from any statutory law, are not liable
under the provisions of the Corporation Tax Law.
Respectfully,
J. C. WHEELER, Deputy Commissioner.
—The findings of the Tariff Board on the Cotton Schedule
of the Payne-Aldrich Tariff law were transmitted to Congress by President Taft on Tuesday. In his Special Message
accompanying the report, the President recommends, on the
basis of the Board's conclusions, a downward revision of the
schedules. Summarizing its findings, he points out that ill the
case of ordinary warp and filling yarns, the foreign cost of turning cotton into yarn is shown to he about 70% of the domestic
cost; that tile duty on these yarns is two to three times in
excess of the difference in cost of production; that in the case
of many cloths of plain weave,tile American cost of weaving
seems to be lower than the foreign cost; that in the case
of most fancy fabrics of complicated weaves, the cost of
weaving is higher in this country, but on such fabrics the
present duties are ill excess of any difference in cost, and in
many cases are in excess of the total conversion cost in this
country. The President commends the labors of the
Board, and urges the appropriation of $60,000 to enable it
to continue its work until the end of the present fiscal year.
He also announces that he has directed the Board to take
up the metal, leather, chemical and sugar schedules. The
text of the Message is as follows:
In several messages to Congress I have expressed my wish for a revision
of the present tariff, schedule by schedule, when justified by an adequate
knowledge of the facts regarding each industry, as shown by an impartial
and non-partisan inquiry. In order to secure such an impartial inquiry
into the facts, I established, under the authority vested in me by law, a
Tariff Board of five members. On Dec. 20 1911 I transmitted to Congress
a report of Schedule K (wool and manufactures of). The Board was unanimous in its findings of fact, and on the basis of these findings I recommended
a revision of that schedule.
I now transmit a report of the Tariff Board on Schedule I (cotton manufactures). In this report also the board is unanimous In its findings. On
version costs in this country.
The cost of finishing (that is, bleaching, printing, dyeing and mercerizing)
is about the same In this country as in the leading competing country. The
extra duties imposed under the present law by reason of these processes
are in excess of the difference in the extra cost due to finishing and are often
In excess of the total domestic cost of finishing.
The report further shows that in the case of a large variety of fabrics
which permit of the use of many looms per weaver,the prices at which goods
are sold by the American manufacturer are as low as the prices charged by
the foreign manufacturer in his own market, and in many cases lower.
On the finer goods mill prices in this country are higher than abroad;
due, in part at least, to the higher cost of-production here. In few cases,
however, is the mill price in this country increased by anything like the full
amount of the duty.
On the other hand, the prices paid by consumers in this country are
higher than abroad, even where the prices received by the manufacturers
are the same in both countries. This is a result of a system of distribution
under which the margin between the manufacturers' price and the retail
price is much greater than abroad. This is partly due both to the higher
cost of distribution and to the established practice in the cotton retail trade
of selling fabrics at customary fixed or "set prices."
Under the existing system of distribution a slight reduction of duties
would in some cases materially reduce the price to the consumer, while in
other cases a large reduction of the duties would not change the price to
the American consumer at all.
These matters are set forth fully in the report of the board, which presents
in impartial manner the necessary facts on which an intelligent revision
of this schedule can be based.
I therefore recommend that the Congress proceed to such a revision
without delay.
Before closing this message I desire to bring the attention of Congress
to the fact that the labor and expense involved in the reports by the Tariff
Commission upon Schedule K (wool and manufactures of) and upon Schedule I (cotton manufactures) have been such as nearly to exhaust the appropriatsion. The pressure under which these investigations and reports were
made involved a greater outlay than will be necessary in the investigation
and report upon the remaining schedules in the tariff law. Heretofore the
expenditure has averaged about $30,000 per month since the appropriation
became available July 1 1911. The board, through its Chairman, Mr.
Emery, advises me that $20,000 per month, in addition to the sum on
hand, would enable them to continue regular work upon other schedules
directed by me until the end of the fiscal year June 30 1912. I therefore
urge the appropriation, as a deficiency appropriation, of $60,000 to enable
the board to continue its valuable work during the months of April, May
and June.
I cannot emphasize too much the importance that I attribute to the
work of the board. The reports already made by the board are most
valuable in advising the Congress and the people of the actual conditions
under which these schedules operate, and of the changes that ought to be
made to make more equitable their effect.
I have directed the board to take up the metal schedule, the leather schedule, the chemical schedule and the sugar schedule, and I sincerely hope that
appropriations, not only for the current fiscal year but ample appropriations
for the next year, will be made by Congress, in order that this Congress
in its next session, and its successors, may have the benefit of the information which will certainly result from a continuance of the services of the
Tariff Board.
The foreign investigation of the Board extended to
England, France, Germany, Canada and Japan. In the
United States the number of mills investigated was 81.
The Board, of course, finds that England is by far the
greatest producer of cotton goods among foreign nations,
and the greatest competitor of this country. That country
sends us over three-fourths of the cotton fabrics imported
and almost seven-eighths of the yarns and thread. In view
of this fact, and because of the time limit set for the investigation and the necessity of carrying on other investigations at the same time, most of the foreign comparisons
are based upon English conditions. The Board states that
in the cost of raw material there sj act ally no c antag
possessed by either country. Comparing all of the yarns
881
THE CHRONICLE
selected, the English labor cost is found on the average to
be practically seven-eighths of the American in the case
of two mills of England and the United States selected for
comparison. In the matter of general expense the difference between the two countries is decidedly greater, thereby
increasing the difference in the total conversion cost of yarn.
Figures are presented to show that although labor costs in
the cotton industry are in many cases lower in the United
States than in England, yet the actual hourly earnings in
this country are much greater in most of the principal
occupations. Discussing duties in their relation to costs of
weaving and finishing, the report states that on plain goods
the present duty varies from half the total American cost of
conversion to more than twice such cost. In nearly all cases
the duty is more than 80% of the total American cost of conversion, and in a majority of cases it more than equals the
entire conversion cost in this country. It adds:
The ratio of the duty to the conversion cost bears little relation to the
ratio of the duty to the foreign market value. Thus in some cases duties
which arc less than 30% ad valorem will be one and a half times the total
American conversion cost, while in other cases duties of nearly 50% ad
valorem will be only three-fourths of the American conversion costs. In
the greater number of cases the duties are greater than the total domestic
costs of spinning and weaving.
[VoL. Lxxxxiv.
"A careful and painstaking analysis of the wool report of the Tariff Board
dictates conclusions as follows:
"The theory of applying tariff duties according to the difference in the
cost of production in this and in foreign countries, upon which the Board
has projected and prepared its report, is entirely erroneous and untenable.
Furthermore, if this theory could have been systematically and carefully
applied, it would not have afforded trustworthy results for guidance in
preparing tariff legislation.
"The Board's report is fragmentary and incomplete, and rests on an incorrect statistical basis. Hence, it has no claims to confidence for the
results set forth,therein, even should the reliability of the theory of the cost
of production be conceded.
"Those persons who are willing to overlook the lack of theoretical soundness and of statistical accuracy will find the data of the report too fragmentary and incomplete to admit of conclusions with reference to rates of
tariff duty. Even under the most favorable interpretation of the report,
conclusions as to duties can be reached only for a few paragraphs of the
wool schedule, and for these paragraphs it is not possible to formulate
definite conclusions, because the figures vary widely and seriously lack
uniformity and comparability. So much is this the case that justification is
apparently afforded in the report for rates that are in conflict with one
another. It is thus seen that the report leaves the question of the tariff
duties on wool as much unsolved as before the Tariff Board was formed.
"So far as conclusions can be drawn from the Board's report, it furnishes
nothing to justify any change in the rates proposed in the present bill."
The minority members declare they have framed and introduced a wool bill based upon the Tariff Board's report,
and have endeavored to adjust the rates in accordance with
the doctrine of protection by prescribing a duty equivalent
The Board makes no recommendations, but in its con- to the difference in the cost of production at home
and
clusions says:
abroad, as found by the Board. They add:
In conclusion, It may be stated that the foreign cost of spinning is less
than in the United States, as shown by the figures above. The same holds
true for weaving fancy fabrics, on which the number of looms to the weaver
in this country is not much greater than the number of looms to the weaver
abroad. On account of the different mill methods in this country, the
domestic labor cost of weaving on a large variety of plain fabrics of wide
consumption is reduced below the foreign cost. Except in the case of a
few special fabrics, and in the case of various manufactured articles, some
of which are produced in this country to a very slight extent, the American
Industry practically supplies the whole consumption. The imports of yarn
in 1910 were less than 3i of 1% of the home production in pounds. The
imports of cotton cloth were less than 2% of the home production In value.
Mill prices are in many cases as low in this country as in the world's markets. Where higher, as in the case of the finer classes of products, they arc
rarely higher by anything like the whole amount of the duty. The effect
of the present tariff, then, in most cases is not so much to add the duty to
the domestic manufacturer's price as to secure him the American market:
and, in the case of most articles of widest consumption, to prevent the
competition of the foreign manuafeturer, either in normal or abnormal
times. On account of more Costly methods of distribution in this country
from producer to consumer, the latter pays a decidedly higher retail price
than the European consumer, even in the case of fabrics on which the cost
of production, and the mill price are as low here as there.
—Chairman Underwood of the Ways and Means Committee submitted to Congress this week the majority report
of the Democratic members of the House of Representatives
on the Wool Bill; the minority report of the Republican members was presented at the same time by Representative
Payne. The Democratic bill, as noted last week, is identical with the one offered last year. It carries a 20% ad valorem duty on raw wool, a reduction of about 50% from the
Payne-Aldrich tariff law; the Republican bill, introduced on
the 22d inst., would lower the duties on wool and manufactures
of wool an average of about 40%; the rates in the Republican
bill are specific, instead of ad valorem, as in the Underwood
bill. A statement in explanation of the Republican measure, made by Representative Hill, who drafted it, is given
in part by the New York "Tribune" as follows:
Classes 1 and 2 are combined, with a single rate of duty, to be known
in this bill as Class 1. The effect will be to eliminate the discriminations
which have existed in the shrinkage of wool between the woolen and
worsted industries. Instead of putting a duty on the grease pound, as
heretofore, the duty is now made specific at 18 cents a pound on the clean
contents of the wool, such clean contents to be determined by the Government.
This single specific duty on the scoured pound of wool Is carried into the
by-products and mathematically adjusted in each case according to actual
manufacturing tests made by the Tariff Board.
•
•
•
•
We have practically fixed a specific duty on the wool in the manufactured
article, precisely as if the same amount of wool was shipped in the grease.
In addition there is an ad valorem duty adjusted to the cost of conversion
from wool to cloth, in accordance with the schedules of the Tariff Board,
showing the cost of producing a large variety of cloths In American, English
and German mills. The rates have been fixed accordingly, without reference to prejudice or individual opinions, and it is believed the result will
show a thoroughly protective measure, With all the unnecessary and ineffective duties of the present la w removed and as a general proposition a very
material reduction in the whole schedule besides.
Carpet wools are, in fact, made free, but the manufacturer will be compelled to pay the duty and prove that he has used the products in his pro- •
cesies of manufacture . He will then receive a rebate of 99%. The rate
on all carpets will be 30% ad valorem on a free-wool basis, a substantial
reduction of 42%go on ninety million pounds of wool and a corresponding
reduction on carpets. This ought to give much lower prices on carpets to
the consumers.
Another MT natur e of our bill Is that in every process relating to manufactured articles the specific or compensatory duty applies only to the
wool contained therein. The general reduction upon the whole bill will
probably be 40% or more, and yet, under the re-adjustment and re-classification, the bill will be a thoroughly protective measure, owing to the
method of a pplying the rates of duty.
In the report of the majority committee, Chairman Underwood criticizes the report made last December on the
wool schedule, saying in part:
"In fixing the rate of duty upon wool, we have adopted the system of a
specific duty per pound upon the clean content of the wools. The Tariff
Board's report shows in the most conclusive way why an ad valorem rate
on wool should not be adopted. The argument in brief Is, if the basic idea
of the duty on wools is to give the domestic grower permanent protection, It
should remain as uniformly effective as possible under all changes of foreign
conditions."
The Republicans also assert that the Tariff.Board's report
explodes "the fiction ih reference to the greater efficiency of
the American laborer in the textile industries," and proves
that "the labor cost per yard in the United States is double
that of the labor 'cost abroad."
—The immediate enactment of a law to protect from private entry and exploitation fields of potash, such as was recently discovered in Southern California, is urged in a message sent to Congress by President Taft on the 20th inst.
The President stated that there was no lawful way at present
for him to protect these mines from entry, and suggested
that Congress would find the necessary protection in a bill
introduced by Senator Smoot on March 8 1911, which was
an amendment to the Withdrawal Act governing entries on
public lands.
—A bill reducing from five to three years the period of residence required on homestead lands before patents are issued
passed the House of Representatives on the 27th inst. It had
already passed the Senate, but was amended by the House in
some minor particulars, and has now been sent to conference.
—A bill to repeal the Canadian Reciprocity Law, excepting Section 2, which relates to the free importation of wood
pulp and print paper, was favorably reported to the United
States Senate by the Senate Committee on Finance on the
28th inst. The reason for the repeal of the agreement,
which was enacted into law last year, is explained by Senator
Penrose as follows:
"Part of the so-called Canadian reciprocity agreement stands on the
statute books without any purpose because Canada refused to enact similar
legislation. Consequently it is thought that the United States ought not
to be in a position of still holding the door open for Canada to take advantage of the opportunity should the people there change their minds on the
subject. It is argued that in a few years conditions might change and a
different reciprocity agreement might be proper. Hence the action of the
committee in reporting favorably the Hepburn bill repealing this law."
—In a second caucus on the 27th inst., the Democratic
members of the House of Representatives voted against the
building of battleships this year. The proposition was decided by an overwhelming viva voce vote; a motion for a
record vote, made by Representative Murray, was defeated
by a vote of 117 to 25. The caucus is said to have been held
at the instance of the friends of the navy, who hoped that
the Democrats would rescind their former action declaring
against the customary authorization for naval increase; the
former action, it had been claimed, was not binding. The
caucus this week also voted against the authorization of $25,000,000 for public buildings. During the debate on the
matter, Representative Burnett, Chairman of the Public
Buildings and Grounds Committee, indicated that a motion
to rescind the action of the last caucus against the public
buildings bill would be pushed, if the caucus adopted a
motion of Representative Padgett, Chairman of the Naval
Committee, for one battleship and one armored cruiser.
Mr. Burnett is quoted as saying:
"We are willing to compromise on one battleship and a 820,000,000
public buildings bill, but we are going to fight to the last ditch against
battleships unless a publio buildings bill is authorized. The two must
stand or fall together."
MAR. 30 1912.]
THE CHRONICLE
885
Resolved, That the PresidentiofitherclubrappointIa-committee of twentyCommenting on the action of the caucus, Secretary Meyer five,
power to add to its membership, for the purpose of co-operating
• with with
Cof the Navy on the 28th inst. said:
other organizations to secure their adoption of similar resolutions and
"The Democratic Party in the House caucus last night gave final notice their indorsement of the principles herein expressed.
to the country that it is opposed to an efficient navy.
Col. Roosevelt, it may be noted, has been a member of the
"Their action is the first step in the direction of a declining navy. It
will depreciate the military value of the fleet as an insurance against war Republican Club for twenty-seven years.
and arrest progress.
Even if, a year from now, we renew the building program of two battle—New York State Superintendent of Banks George C.
ships a year, the order on Dec. 31 1915 would be as follows: Great Britain,
Germany, Japan, France. United States. Only a year ago the United Van Tuyl Jr., presented to the Legislature on the 11th inst.
• his annual report on savings banks, trust companies, mortStates was second.
"The leaders of the Democratic Party are losing sight of the political and gage loan and
investment corporations, safe deposit and
military necessity of the command of the Pacific. Their parsimonious
policy will not be creditable or satisfactory to a nation of 90,000,000 people. personal loan associations. His comments on the savings
"So far as can be foreseen at present, the Milted States will be the only banks and proposed legislation with respect thereto are,
Important naval Power in the world this year which will not lay down a perhaps, of
particular moment, especially in so far as they
single battleship."
refer to the accumulation of an adequate surplus for the
protection of depositors. Mr. Van Tuyl refers to the fact
that in former reports the Department pointed out
existing conditions and recommended that some method
be devised whereby a certain amount be added to the surplus
from the earnings of each institution before the payment of a
dividend; and he declares that unless some proper provision is
made for this purpose, the dangers which are now only
dimly foreseen by many may become actual and real. He
argues that the subject of interest rates is one of the greatest
importance, and announces that the Department is most
heartily in accord with the efforts of the Savings Bank
Association of the State, believing that the time has come for
action and the enactment of some statute that will create
an increase in surplus funds by a method which will not
injure the depositing public. Among the plans suggested
for strengthening the position of savings banks, there is a
suggestion, Mr. Van Tuyl says, that the practice of paying
interest for a longer period than the time during which the
money has actually been deposited, be discontinued. Under
the banking law a savings bank may allow interest for the full
dividend period upon deposits made not later than the tenth
business day of the month, commencing any semi-annual
period, or the third business day of any month, or withOFFICE OF THE ATTORNEY-GENERAL.
drawn upon one of the last three business days of the
Washington, D. C., March 19 1912. •
month ending any quarterly or semi-annual period.
ToVhe President of the Senate
Str:—I am in receipt of a copy of a resolution adopted by the Senate Should this authority be revoked, Mr. Van Tuyl states,
March 10 1912, reading as follows:
there would be a saving in interest and a consequent in"Whereas, it is reported that there is pending before the Department of
Justice a settlement between the United States and the International Har- crease of surplus. Mr. Van Tuyl also maintains that
vester Co. by which the so-called Harvester Trust may be permitted to re- the law should be amended so as to require that every
organize and to bring its organization and business within the Sherman
employee of a savings bank intrusted in any way with the
Anti-Trust law as construed by the Supreme Court; Therefore be it
• "Resolved, That the Attorney-General be, and he is hereby, Instructed handling of the funds of depositors, or whose duties are
to lay before the Senate all correspondence and information he may have such that he may in any manner incur a liability to the
upon this subject, together with any and all correspondence, information
and reports of the Bureau of Corporations relating thereto from Jan. 1 1904 institution, should be under bond. He also recommends
to the present time."
that legislation be enacted requiring trustees of savings
• In reply I am directed by the President to say that, in my opinion, it is
banks annually to subscribe and file an oath of office. He
not compatible with the public interests to lay before the Senate the correspondence and information relating to the International Harvester Co. states that as the majority of trustees of savings banks have
In the possession of this Department, nor the correspondence, information never taken an oath of office, or filed any paper with the
and reports of the Bureau of Corporations relating thereto. These are
which would show responsibility on
matters pertaining entirely to business which is now pending and uncom- Banking Department
pleted In this Department. I have the honor to be,
their part, some such measure is necessary if the SuperinVery respectfully yours,
tendent is to have actual knowledge as to who are the
GEORGE W. WICKERSHAM,
trustees of a particular savings bank at any given time and
Attorney-General.
Another resolution calling for information from the At- therefore responsible for the conduct of its affairs. The
torney-General bearing on the affairs of the International Superintendent also has the following to say anent the
Harvester Company, was introduced by Representative authority to'remove trustees:
Lobeck on the 28th inst.
The Superintendent of Banks has been convinced that a desirable
Law would be a provision authorizing the
—Action similar to that of the Union League Club of the amendment to the Banking
removal under certain conditions of trustees of savings banks. The
City of New York, which recently adopted resolutions con- Department, therefore, recommends to the Legislature the passage of
demning the judicial recall doctrines, was taken by the Re- a law giving such power of removal upon the affirmative vote of threeof the total number of trustees of a bank, and in addition thereto
publican Club of this city on the 22d inst. The resolutions fourths
the written approval of the Superintendent of Banks.
of the latter, endorsed without a dissenting vote by the 350
The position of a trustee in savings banks of this State after an institution
members present, not only denounced the proposed judicial is first authorized is absolutely unique. Trustees have very ample powers
are responsible to no one. The trustees do not have a dollar invested
and
recall, but also declared opposition to a third Presidential
the institution which they control, because it has no stock. They may
term and expressed approval of President Taft's Administra- in
not even have a deposit with it. In fact, even the right to make such
tion. In full, the resolutions of the Republican Club are as deposits was at one time questioned. They hold office for life without
re-election, and there is at the present time no method by which a trustee
follows:
—Following the official declaration on Sunday of the
termination of the strike of the textile workers at Lawrence,
Mass., Representative Henry, Chairman of the Rules Committee of the House, announced on Wednesday that the
Committee had concluded not to report the resolutions
of Representatives Wilson and Berger,calling for a general
investigation of the strike. Mr. Henry stated that the
Committee was convinced that nothing could be gained by
the inquiry, especially sinCe the strike had ended satisfactorily to the strikers. It is furthermore reported that
the Committee has likewise abandoned its purpose of recommending an inquiry into the American Woolen Co.
—In a resolution adopted by the U. S. Senate on the
16th inst., Attorney-General Wickersham was asked to
submit to that body whatever information and correspondence he might have bearing on the dissolution and reorganization of the International Harvester Co. Mr. Wickersham, in
his reply, which was dated the 19th inst., and was laid
before the Senate on the 25th, stated that it was not "compatible with the public interests" to present the data to the
Senate. "These are matters," he added, "pertaining entirely
to business which is now pending and uncompleted in this
Department." His letter in full follows:
Whereas, William Howard Taft, the President of the United States, is a
Candidate for renomination by his party, after four years of efficient and
Successful administration of the affairs of the Government; and
Whereas, Upon the subject of recall of judges and of judicial decisions
ho has consistently, wisely and ably maintained the integrity of the bench,
the independence of the judiciary and the finality of decisions of courts of
last resort;
Resolved, That the Republican Club of the City of New York hereby
indorses the Administration of President Taft and his candidacy for renomination by the Republican Party; and
Resolved, That the Republican Club hereby expresses its unqualified
disapproval and condemnation of the doctrines of recall of judges and
judicial decisions. Such doctrines are contrary to the settled policy of the
Republican Party and the constitutional theory of the Government. They
are Populistic to an extreme degree. They substitute impulse and passion
for the well considered judgments of courts of last resort, reached after
careful research and study by judges of experience, trained and best qualip
fled to determine grave Constitutional rights; and
Resolved, That in the judgment of the Republican Club it has become
and should be the wise policy of this country that no single individual should
flil.the great office of.Presidentimore than two terms; and
of a savings bank can be removed, no matter how disgraceful his conduct
or how hostile he may become to the interests of the institution of which he
is a trustee. The fact that there have been so few instances in which the
character or habits of a trustee of a savings bank has brought disgrace
upon it, or a trustee has, through jealously or spite, endeavored to injure
an institution with which he has been connected, Is a very high tribute
to the care exercised in the authorization of such institutions and to the
high character and fidelity to their trusts of the trustees themselves. There
have been a few cases, however, in which the trustees of savings bank have
yielded to the ordinary temptations of humanity to such an extent that
their very presence upon a board of trustees has been injurious to an
institution, and there have been a few cases in which a trustee, disappointed
in his ambitions to obtain some salaried office either for himself or his
relatives, has sought to incite a run upon the institution with which he has
been connected or to avenge himself upon his opponents, even at the
expense of the institution in other ways. It is evident that such an instition can only prosper when its management is harmonious, and it is believed
that the power of removal, with proper safeguards, should be given.
—The New York State Assembly passed on the 28th inst.
the bill which makes it a misdemeanor to circulate false
886
THE CHRONICLE
[VOL. Lxxxxxv.
statements or rumors derogatory to banking institutions. Assistant Treasurer, of Manhattan Trust
Co., have been
The bill passed the Senate on the 20th inst.
appointed Secretary and Assistant Treasurer, respectively,
—The dates for the coming annual convention of the Amer- of the Bankers Trust Co.
ican Bankers' Association—the week of Sept. 9 at Detroit—
—Action on the question of increasing the capital of the
were confirmed by the Administrative Committee of the Chelsea Exchange Bank of
this city from $200,000 to $400,association at a Meeting just held in New York. The com- 000, mention of which
was made in these columns last week,
mittee decided to invite Sir Edward H. Holden, Bart., will be taken by the
stockholders on April 10. The new stock
Chairman of the London City & Midland Bank of London, will be offered to
stockholders at 150 per share. A stock
to address the convention, and it was also decided to invite dividend of 25% will be
declared.
as speakers on that occasion prominent bankers representing
—The net deposits of the Guaranty Trust Co. of New York,
the banks of France and Germany, as well as men of promias exhibited in the statement of March 21, amount to over
nence in the United States.
$178,000,000. This total, it is stated, is the largest ever
The association will be represented at the convention of
reported by an American trust company, and is a gain of
delegates from commercial organizations in all parts of the
$22,000,000 over the figures reported by this company on the
country, which is to be held in Washington on April 22 (inoccasion of the last previous call, Dec. 21. Compared with
stead of April 15,as at first planned), at the instance of Presithe figures of the corresponding statement a year ago, there
dent Taft, to effect the establishment of a National Board of
is shown a gain of over $45,000,000, or 34% in twelve months.
Trade. Those chosen to act as the representatives of the
The total resources of the Guaranty Trust Co. are consideraAmerican Bankers' Association are Samuel McRoberts, Vicebly in excess of $225,000,000.
President of the National City Bank of New York; Levi L.
—The Equitable Safe Deposit Company of this city, operRue, President of the Philadelphia National Bank of Philadelphia, and T. J. Davis, Cashier of the First National Bank ated at the Equitable Trust Company's uptown branch on
Fifth Avenue, has taken over the business of both the Colonof Cincinnati.
E. J. Curtin, President of the Citizens' Savings Bank of ial Safe Deposit Company, in the St. Paul Bldg., and the
Decoral, Iowa, and President of the Iowa Bankers' Associa- North American Safe Deposit Co., 43 Exchange Place. The
tion, has been made a member of the Agricultural Committee Equitable Safe Deposit Co. has also received authority from
of the American Bankers' Association to fill a vacancy. the State Banking Department to increase its capital from
C. G. Hutcheson, Cashier of the First National Bank of $100,000 to $150,000.
—George G. Ward, First Vice-President of the Commercial
Kansas City, has been placed on the Finance Committee in
Cable Co., has been elected a director of the United States
the three-year class to fill a vacancy.
Mortgage & Trust Co. of this city, to take the place of Clar—The published report of the Columbia Trust Co., 135
ence H. Mackay. The usual quarterly dividend of 6%,payBroadway, upon the call of the Banking Department as of
able March 30 to shareholders of record March 29, has been
March 21, exhibits substantial growth. Its deposits were
declared by the trust company.
$21,500,000, as compared with $16,640,920 on Dec. 21, the
—Charles B. Alexander of the law firm of Alexander &
date of the last call, and its surplus and undivided profits
Green,
has been elected to the board of the Windsor Trust Co.
$1,950,000, as against $1,893,619. The stock of the company has advanced from $300 to $360 per share during the of this city.
—The following new directors have been added to the
period in question.
board of the Equitable Trust Co. of this city: H. B. Hollins;
—David M. Morrison retired as President of the WashAlbert G. Boardman, Albert Strauss and Charles G. Meyer.
ington Trust Co. of this city at a special meeting on Thurs—The newly-constituted board of the Broadway Trust Co.
day, and was immediately elected Chairman of the board.
He had been at the head of the company since its organiza- of this city, enlarged following the consolidation with it of
tion. He is succeeded in the presidency by Francis H. the Savoy and Flatbush trust companies, elected the followPage, who has been Vice-President; M. S. Lott, Secretary, ing officers at a meeting on the 22d inst.: President, Fredwas made Vice-President; G. W. Toerge was chosen Secre- eric G. Lee; Vice-Presidents, M. M. Belding Jr., Alexander
tary, and S. W. Whitson and T. T. Sturges Jr. were ap- C. Snyder and H. S. Colburn; Treasurer, John Williams;
pointed Assistant Secretaries. Roswell Eldridge was elected Secretary, John W. H. Bergen; Assistant Secretaries, Franka member of the executive committee, and John J. Pulleyn, lin Schenck and L. S. Quimby. Messrs. Lee, Belding;
Comptroller of the Emigrant Industrial Savings Bank, was Bergen and Quimby retain the posts they had heretofore
elected a director of the company. Mr. Page, like Mr. held in the Broadway Trust; Messrs. Snyder and Colburn
Morrison, started with the company with its forma- were Vice-Presidents of the Flatbush Trust Co.; Mr. Schenck
tion in 1889. He first officiated as Secretary, then as Sec- was Secretary of that institution, and Mr. Williams was
ond Vice-President and subsequently became Vice-President. formerly with the First National Bank of Chicago and the
State Savings Bank of Quincy, Ill.
—Suit has been brought in the Supreme Court by Andrew
—John Arbuckle of Arbuckle Bros., the well-known dealers
Carnegie to recover on a loan of $2,000,000 made to the
failed Carnegie Trust Co. of this city in 1909. The action, in sugar and coffee and a director of several financial instiit is stated, names Samuel H. Kress, a director, as defend- tutions, died on the 27th inst. after four days' illness. He
ant. The loan, which was to run for one year, was in the was in his seventh-fourth year. The house was established
nature of bonds of the United States Steel Corporation of a by Mr. Arbuckle and his brother, Charles, in 1871. The
par value of $2,000,000. In setting out the complaint, business of the firm was at first confined to dealings in coffee,
and the sale of coffee on a large scale in sealed packages is
Mr. Carnegie says:
On Deo. 28 1909 at Hoboken, N. J., at the request of Martin Condon, said to have been first instituted by his house. The firm atGeorge D. Crabbe, the defendant, Samuel H. Kress, Joseph B. Reichmann, tained perhaps more prominence when it later became
a facListon L. Lewis, Charles A. Moore Jr., William A. Keener and William
Arbuckle was one of the founders
J. Cummins—called borrowers—the plaintiff loaned and delivered $2,000,- tor in the sugar trade. Mr.
000 par value of sinking fund 5% gold coupon bonds of the United States of the Kings County Trust Co. and a trustee since its early
Steel Corporation, with all the then unmatured interest coupons attached. days; he was also an active member of its
executive comThere were 2,000 bonds, each having a par value of $1,000, mittee. He was likewise a director of the Importers' &
and attached to each was an unmatured interest coupon Traders' Bank, the Lawyers' Title Insurance & Trust Co.
of the value of $25, due May 1 1910. But $50,000, the com- and the Mortgage Bond Co. of New York.
plaint says, was returned, and this, it is stated, represented
—The interests identified with the organization of the prothe interest due on the first payment of coupons; the interest posed new Brooklyn bank have decided
to change its name
coupons of Nov. 1 1910, he claims, were not delivered to him. from the Fulton National Bank to the
Clinton National Bank.
Mr. Carnegie states that the bonds were valued at $2,094,- The change, it is stated, was made in
view of notice received
873, and he seeks to recover this, the interest thereon and from the Comptroller of the Currency that the Market
&
the value of the interest coupons.
Fulton National Bank was opposed to the use of the name
—The merger of the Manhattan Trust Co. into the Bank- originally selected. The charter of the Fulton National
ers Trust Co. of this city became effective on Monday, when Bank, which, with the:merger of the Market National,formed
the business of the former, located at 113 Broadway, was the present institution, is said to be still in existence, and it
transferred to the office of the Bankers Trust Co. at 7 Wall was thought that confusion might develop if that title were
St. W. N. Duane and F. N. B. Close have been elected used by another institution.
Vice-Presidents of the Bankers Trust Co. Mr. Duane for
—The Security Trust Co. of Rochester, N. Y., has inmany years had been Vice-President of the Manhattan Trust creased its capital from $200,000 to $300,000;
the new stock
Co. and Mr. Close had been Secretary of the Bankers Trust has all been paid in and issued at $160 per $100 share.
Based
Co. George G. Thomson, Treasurer, and Perry D. Bogue, on the last call of the Banking Department (March
21), the
MAR. 30 1912],
THE
CHRONICLE
887
net yearly return
capital is $300,000, the surplusI$400,000, undivided profits both institutions are identical and the
dividends are in
special
These
16%.
ofAthe
been
has
diprice
heretofore
.;...Thelbi
$276,000 and deposits $14,373,105
place of the suspended payments of the First Trust & Savstock, following the increase, is $450 per share.
ings Bank. A comparative statement of the growth of the
—The Hartford Trust Co., Hartford, Conn., has paid
First National Bank from 1900 and the First Trust & Savcontinuous semi-annual dividends since July 1 1880, and ings
Bank since its organization in 1904 is shown in a folder
trustees
the
s,
stockholder
its
of
e
now, for the convenienc
lately
issued. In the eleven years the average gross dediviquarterly
have declared dividend No. 84, this being a
of
posits
the First National have risen from $54,697,478 to
dend of 3% on the capital stock, payable April 1 1912.
90; its capital has been increased from $5,000,000
$115,675,9
de
Pont
—Pierre S. du Pont, Treasurer of the E. I. du
0, and its surplus from $2,000,000 to $10,000,to
$10,000,00
Nemours Powder Co., has been elected a director of the 000; the dividend disbursements have advanced from $480,Pont's
Du
Mr.
a.
Philadelphi
Philadelphia National Bank at
000 to $1,600,000 (the latter including $400,000 paid on the
great grandfather, the founder of the powder firm capital of the First Trust & Savings Bank); the clearings of
opened an account with the Philadelphia National more than the First National reached a total of $3,070,239,962 in 1911,
a hundred years ago, and the firm and its successors have against $1,312,475,595 in 1900, while the total clearings of
maintained a continuous account with the bank throughout the associated banks rose in the interval from $6,799,535,598
the century.
to $13,925,709,803. The capital of the First Trust & Sav—Henry Shriver has become President of the First Na- ings Bank was increased in the seven years' interval from
tional Bank of Cumberland, Md., succeeding Robert Shriver, $1,000,000 to $2,500,000; it had no surplus at the start, but
who died on the 18th inst. Minutes in memory of the in 1911 had $3,000,000; its average total deposits in 1911
late President have been adopted by the board.
were $50,475,566. A combined statement of the capital
—Walter and Emory Kirwan, the heads of the bankrupt and deposit accounts of both banks each year since 1904 is
Kirwan Bros. Grain Co., Baltimore, were indicted on the furnished as follows:
Average
Undivided Dividends
25th inst. for alleged conspiracy to defraud the First National
Paid. TotalDeposits
Surplus.
ProfUs.
Capital.
Year,
lading.
of
bills
of
$101,249,961
$960,000
bogus
$1,545,956
on
Baltimore
$70,000
$5,000,000
$9,000,000
Bank of
1904
960,000 117,155,150
5,500,000 1,619,627
9,000,000
1905 _
960.000 130,266,228
Harry C. Hindes, Secretary and Treasurer of the company, 1906__9,0
7,000,000 1,251,925
00,000
960,000 131,408,584
7,500,000 1.207,770
10,000,000
_
previously
1907
were
who
,
its
Marshall,
bookkeeper
E.
Wm.
and
960,000 136,905,990
8,000,000 2,041,233
10,000,000
1908
154,586,554
1,280,000
25th;
1,331.528
on
the
guilty
10,000,000
pleaded
similar
10,000,000
charge,
1909
indicted on a
12,500,000 1,575,306 1,520,000 154,913,408
12,500,000
1910_
Hindes was sentenced to three years' imprisonment, but 1911
12.500,000 13.000,000 2,348,851 1.600,000 • 166,151,556
Judge Elliott, before whom they appeared, suspended sen—The Aetna Trust & Savings Bank of Indianapolis, which
tence in the case of Marshall, the latter, he maintained, began operations on the 4th inst., has taken over the business
of
having only obeyed instructions in making out the bills
of the H. P. Wasson Co. Bank, which was organized in 1906
lading. It was on the testimony of Hindes and Marshall, with a capital of $25,000; its deposits at the time of the
it is stated, that the Kirwans were indicted. The firm was merger are said to have exceeded $350,000.
placed in receiver's hands last November following the dis—The International Trust Co. of Denver on the 18th inst.
covery of forged bills of lading.
into its handsome marble structure at Seventeenth
moved
—The circulation of rumors that the Exchange National
streets. A reception was held on the opening
California
and
instiBank of Pittsburgh would consolidate with another
many availed of the invitation to inspect the
when
day,
tution caused the recent issuance of a statement by President imposing quarters. A unique incident in connection with
Joseph W. Marsh, in which he said:
the company's removal was the purchase of an indemnity
"There is no truth in the rumor, except that some overtures had been
serious
them
give
to
declined
board
the
policy insuring it against loss during the time in which it
but
result,
a
such
to
looking
made
consideration and no such action is contemplated. The Exchange National transferred its property to the new location. The life of the
Bank has had a remarkable growth under the existing management during
bond was 24 hours and the amount of insurance it carried
the last two and one-half years. It is not, therefore, surprising that other
policy
financial institutions have coveted the strength and stability, as well as was $5,000,000, this, it is stated, being the largest
the splendid strategic position of our bank. We believe that Pittsburghers ever written in the West for the protection of a financial
to."
referred
above
rumor
the
in
truth
is
no
there
will be glad to know that
against loss. The new building of the trust comThe bank reached its seventy-fifth anniversary on May 18 institution
of
the Corinthian type of architecture. It is built
is
pany
1911. It has a capital of $1,200,000 and deposits of over,
of white marble, on a Milford pink granite base. Arizona
$5,000,000.
opal marble is used in the main banking room, which is fin—Announcement of the suspension of the banking house ished in light green and old gold; the grills are of solid bronze
ofiGeorge B. Hill & Co. of Pittsburgh was made yesterday. and plate glass, while the cabinet work and office furniture
The firm was established in 1868 and was one of the most are of mahogany. The company has installed five vaults,
prominent members of the Pittsburgh Stock Exchange; it three of which are for its individual needs; the principal
was composed of W. I. Mustin and John D. Nicholson.
vault contains 6,000 safe-deposit boxes; the door alone
—Announcement has been made by E. H. Jennings, weighs 34,000 pounds, and 400,000 pounds of steel have been
President of the Colonial Trust Co., Pittsburgh, of the used in the vault's construction. The International Trust
election of Jerome Hill as Vice-President of the institution, Co. wits founded twenty years ago by the late David H.
and Manager of the Bond Department, which he will o rganize Moffat. It has a capital of $350,000, surplus and profits of
Mr. Hill will take up his new duties on April 1.
about $735,000 and deposits of close to $6,000,000. Its
—C. E. Braun has been elected Assistant Cashier of the officials are H. H. Blackmer, President; T. G. Smith, ViceMarine National Bank of Pittsburgh.
President; H. II. Brooks, Secretary, and P. E. Cleland,
—The trustees in charge of the liquidation of the Cincinnat Treasurer.
Trust Co. of Cincinnati have instituted proceedings for an ac—A new trust company will open for business in Denver
counting from the directors and officers. The company shortly under the name of the Guardian Trust Co. It is to
was merged with the Provident Savings Bank & Trust Co. have a capital of $100,000 and surplus of $50,000. The
several months ago. According to the Cincinnati "Tribune," location will be in the quarters of the National Safety Vault
the accounting sought concerns "amounts said to have been Co. on Welton Street, and it is reported that the new orlost and misapplied, and $500,000 alleged to have been ob- ganization will be operated jointly with the vault company.
tained by wrongful issue of additional stock, and they also
—The organization of a day and night bank is proposed
ask that a note for $352,000, said to have been given by cerDenver. The capital is fixed at $100,000. It will have
in
tain of the directors and removed from the bank, be held a
with the Denver Safe & Deposit Co. and will be conoffices
thereof."
makers
subsisting
of
the
obligation
valid and
by the management of that institution. The officials
trolled
The action taken by the trustees is said to be in the nature
are: President, G. J. Charpiot; Vice-President,
latter
the
of an answer and cross petition to the suit filed by H. C. of
Secretary and General Manager, E. H.
Stewart;
Roderick
an
directors.
the
for
from
,
accounting
Busch, a stockholder
and Treasurer, E. T. Duffey.
Norton,
—The First National Bank of Chicago declared this week
—The Germania Savings Bank of Denver opened its doors
the regular quarterly dividend of 3% and a special dividend
16th inst. with a capital of $30,000. The
Of 13.1%, both payable March 30 to holders of record on for business on the
the main floor of the Ernest & Cranmer
on
quarters
has
bank
in
is
of
the
dividend
declaration
special
that date. The
officers of the institution are: President,
accordance with the plans of the management of the First Building. The
Vice-Presidents, John B. Stephen
National Bank and the First Trust & Savings Bank, whereby William Bierkamp Jr.;
Ida M. Schiele. The present
Cashier,
Carper;
I.
J.
and
temporarily
stock
to
are
be
the distributions on the latter's
will eventually
discontinued until the surplus is brought up to a better quarters of the bank are only temporary; it
Street.
Eighteenth
on
ocate
of
s
The
capital.
stockholder
increased
the
relation with
888
THE CHRONICLE
[VOL. LXXXXIV.
—The directors of the Citizens' National Bank of Chey- of
the situation was taken by the Houston Clearing-House
Asenne, Wyo., have started work on a six-story office and
sociation, which in a resolution characterized the run
as
banking building, to be located at Eighteenth Street and
"uncalled for, unjust and useless," and expressed its willingCarey Avenue. The bank will have ground-floor quarters in
ness to furnish the bank any assistance that might be needed.
the new building.
The institution, however, did not find it necessary to
call
—Under arrangements which have been agreed to for upon the associated banks; it
remained open beyond the usual
the consolidation of the State Bank of Utah at Salt Lake hours on the 4th to accommo
date those who desired to withCity and the Utah National Bank, the State institution will draw funds, and on the followin
g day a return to normal conbe liquidated; the enlarged bank will bear the name of the ditions was witnessed.
The clearing-house resolution in
Utah State National Bank, and it will have a capital
of full expressing confidence in the bank was as follows:
$600,000. According to the Salt Lake "Tribun
The public is hereby assured that the run on
the Lumberman's National
e," each in- Bank
was uncalled for, unjust and useless.
stitution will put in 3,000 shares of stock at a value of $158
We consider the bank in good condition and
perfectly
solvent, and while
per share. The Utah National, as a preliminary, has taken they have asked for no assistance
from the associated banks, the banks
of the Houston Clearing House are ready and
steps toward increasing its present capital from $200,00
willing to give them any
0 to
or support that they may need. This
$300,000. The State Bank of Utah already has a capital aassistance
action is embodied in
letter to them from the officers of the Clearing
House, and the members
of $300,000 and its deposits are in the neighborhood of thereof, to make such use of as
they may see fit.
$3,000,000; the Utah National has deposits of about 1M
HOUSTON CLEARING HOUSE,
By J. E. McAshan, President.
million dollars.
FIRST NATIONAL BANK,
—The officers who will direct the affairs of the Fidelity
By J. T. Scott, Vice-President.
SOUTH TEXAS-COMMERCIAL NATIONAL BANK.
ez Columbia Trust Co. of Louisville when that institution
By J. D. Harris, Vice-President and Cashier.
succeeds on May 1 to the business of the Fidelity Trust and
HOUSTON NATIONAL EXCHANGE BANK,
By Harry J. Fox, Vice-President.
Columbia Trust companies, as named by the committee
UNION NATIONAL BANK,
delegated for the purpose, are as follows: John W. Barr Jr.,
By T. C. Dunn, Vice-President.
President; L. W. Botts, Vice-President; A. Y. Ford, Cashier; • Attest: E. Raphael, Manager.
John T. Malone, Manager; L. M. Render, Secretary; J.
—The American Trust Co. of Houston, Texas, proposes
F.
Speed, Treasurer; J. D. Winston, Assistant Treasure
r; to increase its paid-in capital from $500,000 to $1,000,000.
Menefee Wirgman and J. G. McPherson, Assistant
Secre- The new issue will be placed on the market, to the public
taries. Mr. Barr is President of the Fidelity, while Mr. generally, at $125 per share (par $100).
The company was
Botts is President of the Columbia. The proposed union organized last year and began
business on Dec. 4. A first
of the two institutions was referred to in our issue of Feb. 3; quarterly dividend of 3% was paid
on the 4th inst.
the stockholders are to ratify the plans on April 17.
7—The BankerslTrust Co.Wofil HoustonliTex ,recently
—The Lowry National Bank of Atlanta, Ga., is making moved into its new and beautifu
lly equipped quarters in the
extensive alterations and improvements to its banking quar- Union National Bank Building
. The company claims to be
ters, so as to provide for the proper handling of its increasing the largest financial institution
in Texas, having a capital of
business
. Entirely new counters, constructed of white, im- $2,000,000, surplus of $500,000 and undivid
...
ed profits account
ported Italian marble, with colored Italian marble bases of $300,000. It is actively engaged in carrying
on a general
and solid bronze grills, are being installed, and new metal fiduciary business in loaning on the best real
estate and in
furniture and fixtures of the latest design will be used selling these loans in coupon bond form on a 7%
basis.
throughout the bank. The .main banking room is being
—Daniel S. Eddins, President of the Exchange National
enlarged and handsomely redecorated, and when com- Bank of Waco,
Tex., and of the Waco Clearing-House Assopleted will be one of the finest in this progressive
city ciation, died on the 17th inst. Mr. Eddins had been at the
of many handsome bank homes. Massive new Mosier safe- head of
the Exchange National since its formation in 1907.
deposit vaults of the newest construction will also be added.
—Jonat
han Hodgson, Vice-President of the Merchants'
Larger and more commodious quarters for the clerks will
be provided on the second floor of the building. The Lowry Bank of Canada, Montreal, has resigned, owing to ill-health,
National,of which Col. Robert J.Lowry,who is so well known and Kenneth W. Blackwell has been elected to fill the vain banking circles, is the head, has a capital of $1,000,000, cancy. Mr. Hodgson, it is understood, will continue as a
surplus and profits of $1,193,000 and deposits of over $5,- member of the board. Mr. Blackwell is a Vice-President
000,000. Thomas D. Meador and Joseph T. Orme are Vice- of the Investment Trust Co. of Montreal.
—The following, representing the Eastern Townships Bank
Presidents; Henry W. Davis, Cashier, and E.*.A. Bancker Jr.
(head office Sherbrooke), which recently consolidated with
and H. Warner Martin, Assistant Cashiers.
the Canadian Bank of Commerce (head office Toronto), have
—On the 4th inst. the Union Bank & Trust Co. of Monroe, been elected
to the board of the latter: William Farwell,
La., changed its name to the Union National Bank, having D.C.L.; G.
Stevens, G. G. Foster, K.C.; Charles Colby, M.A.,
been converted to the national system. The officers remain Ph.D., and A.
C. Flumerfelt.
unchanged, consisting of W. R. Mitchell, President; V. C.
—The Standard Bank of Canada (head office
Toronto)
Barringer and Percy Sandel, Vice-Presidents; H. D. Apgar,
has declared a dividend for the quarter ending April 30
at the
Cashier, and M. W. Haas, Assistant Cashier. The capital is
rate of 13% per annum (3Yt%), payable May 1 to sharehol
$200,000.
ders of record April 20. The rate was increased from 12 to
—The Texas Bankers Association, through its Secretary, 13% yearly with
the February payment.
J. W. Hoopes, announces part of the program for thelstate
convention, to be held at San:Antonio May 7 to 9. Some of
DEBT STATEMENT OF FEBRUARY 29 1912.
the speakers and their subjects are: C. A. Sanford, VicePresident of the Commercial State Bank, Sherman, "ConThe following statements of the public debt and Treasury
science in Banking"; Dr. E. S. Meade °Who)Universitylof cash holdings of the United States are made up from official
Pennsylvania, Philadelphia, "Would the National Reserve figures issued Feb. 29 1912. For statement of Jan. 31 1912
issue of Feb. 24 1912, page 531; that of Feb. 28 1911, see
Association Result in the Creation of a Public Discount Mar- see
Apr. 11911, page 852.
ket"? J. A. Pondrom, Vice-President of the Texarkana NaINTEREST-BEARING DEBT FEB. 29 1912.
tional Bank,`Texarkana,"Can the Overdraft Be Eliminated"?
Amount
—Amount Outstanding
Interat
Issued.
Registered. Coupon.
James E. Ferguson, President of the ITempleiStatelBank,
Total.
Title of Loan—
Payable.
$
$
$
$
Temple, "Why the Aldrich Bill Should Not Pass"; McLane 2s, Consols of 1930.Q-J. 646,250,150 642,126,550 4,123,600
846,250,15
Is, Loan of 1908-18
Q-F. 198,792,660 43,915,380 20,030,080 63,945,4600
Tilton Jr., Secretary-Of4s,
Loan
1925
of
the—AlQ-F. 162,315,400 09,783,600 18,706,300 118,489,000
abama-Bankers' Association, 2s, Pan. Canal
Loan 1906_Q-F.
54,631,980 54,606,740
25,240 54,031,980
Pell City, Ala., "Crimes Against Cotton," and Raymond 2s,
Pan. Canal Loan 1908_Q-F.
30,000,000 29,645,820
354,180 30,000,000
35,
Canal
Pan.
Loan
50,000,000 29,791,200 20,208,800 50,000,000
Cox, Fourth National Bank, New York City, "American 20,Post.Sav. bonds1911_Q-S.
1911 J-J.
41,900
6,020
36,880
41,900
2Y4s, Post.Sav. bonds 1912 J-J.
Institute of Banking."
417,580
103,280
314,300
417,580
Aggregate int.-bearing debt _ _1,142,449,670 900,220,47 63,556,500
—An uncalled for "run," which spent itself before the close
0
083,776,970
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
of the day, was instituted on the Lumberman's National
January
31.
February
Bank of Houston on the 4th inst. The incident apparently Funded loan of 1891, continued at 2%,
s7.0
29
0.
0
called May 18
1900, interest ceased Aug. 18 1900
83
514
7
6:
,442
00
60
had its inception in the circulation on the Friday previous of Funded
00
000
0
13
loan of 1891, matured Sept. 2 1891
23,650 00
211
;
5(0
0
)0
s0
8
a careless remark that the institution would close on Satur- Loan of 1904, matured Feb. 2 1904
13,350 00
Funded loan of 1907,
July 2 1907
day the 2d, the fact that this was in observance of "Texas Refunding certificates,matured
matured July 11907
14,360 00
debt matured at various dates prior to Jan. 1 1861
Independence Day," having failed to impress many, with Oldand
other items of debt matured at various dates
subsequent
to
Jan.
1
1861
the result that on Monday the 4th the bank was called upon
904,350 26
004,340 26
Aggregate debt on which interest has ceased since
to meet greater demands than was customary.:,Cognizance
maturity
.
•
••^•
-•
$1,818,20 26 81,814,750 26
THE CHRONICLE
11AR. 30 1912J
DEBT BEARING NO INTEREST.
February 29.
January 31.
8346,681,016 00 $346,681,016 00
United States
53,282 50
50
53,282
Old demand notes
25,714,812 50
26,158,715 00
National bank notes—Redemption account
Fractional currency, leas $8,375,934 estimated as
6,856,639 90
6,856,639 90
lost or destroyed
90
40
$379,305,750
$379,749,653
interest
no
bearing
debt
Aggregate
RECAPITULATION.
Classilication-Interest-bearing debt
Debt interest ceased
Debt bearing no interest
Feb. 29 1912.
$963,776,970 00
1,819,750 26
379,305,750 90
Increase(+)or
Decrease(—)
Jan. 31 1912.
$963,776,970 00
—$3,470 00
1,818,220 26
379,749,653 4) —443,902 50
$1,344,897,471 16 $1,345,344,843 66 —$447,372 50
Total gross debt.
273,413,503 02 —1,520,799 23
Cash balance in Treasury. _ _ _ _ 271,892,703 79
64+81,073,426 73
37
$1,071,931,340
$1,073,004,767
debt
net
Total
•Includes $150,000,000 reserve fund.
The foregoing figures show a gross debt on Feb. 29 of
$1,344,897,471 16 and a net debt (gross debt less net cash
in the Treasury) of $1,073,004,767 37.
TREASURY CASH AND DEMAND LIABILITIES.—
The cash holdings of the Government as the items stood
February 29 are set out in the following:
LIABILITIES.
ASSETS.
$
Trust Fund Liabilities—
Trust Fund Holdings—
1,025,723,369 00
Gold
00
certificates
1,025,723,369
Gold coin
477,919,000 00
477,919,000 00 Silver certificates
Silver dollars
3,040,000 00
3,040,000 00 Treasury notes of 1890..
Sliver dollars of 1890...
1,506,682,369 00
Total trust fund
General Fund Holdings—
1,074,084 48
Certified check
23,367,027 99
Gold coin and bullion
66,580,573 00
Gold certificates
10,235,603 00
Silver certificates
14,769,795 00
Silver dollars
1,433,648 23
Silver bullion
9,567,341 00
United States notes__ _
12,386 00
Treasury notes of 1890._
National bank notes..._ 38,963,623 25
Fractional silver coin. __ 23,468,394 16
202 87
Fractional currency _ _ __
2,050,105 41
Minor coin
Bonds and interest paid
Tot. In Sub-Treasles_ 191,544,417 03
In Nat. Bank Depositaries—
Credit Treasurer of U.S. 35,364,384 83
11,383,920 56
Credit U.S. dia. officers_
Total trust liabilities_1,506,682,369 00
Gen.Fund Liabilities—
National Bank 5% fund 24,530,458 17
Outstanding checks and
9,007,755 25
drafts
Disbursing officers' bal79,001,102 16
ances
Post Office Department
7,294,168 03
account
1,033,371 34
Miscellaneous items_ _
Total gen'l liabilities... 121,716,854 95
46,748,305 39
Total in banks
In Treas. of Philippine Islands—
Cash BalanCe and Reserve—
1,858,852 38
Credit Treasurer of U.S.
3,457,983 94 Total cash and reserve__ 271,892,703 79
Credit U.S. dis. officers_
Made up of—
5,316,836 32 Avallable_121,892,703 79
Total in Philippines__
and
Reserve Fund—
Reserve Fund Holdings—
000,000 00
Gold&bull.150,
00
150,000,000
Gold coin and bullion_
1,900,291,927 74
Grand total.
1,900,291,927 74
Grand total
TREASURY CURRENCY HOLDINGS.—The following
compilation, based on official Government statements, shows
the currency holdings of the Treasury at the beginning of
business on the first of December 1911 and January, February and March 1912.
TREASURY NET HOLDINGS.
Dec.1 1911. Jan. 11912. Feb. 1 1912. Mch. 11012
$
$
$
$
Holdings in Sub-Treasuries—
bullion
276,029,643 235,654,356 239,947,601
285,303,171
and
coin
gold
Net
26,439,046
24,935,035
9,920,357 14,289,630
Net silver coin and bullion
12,386
11.651
14,386
8,230
Net United States Treasury notes
9,567,341
5,868,032 8,730,716 9,547,034
Net legal-tender notes
29,800,608 35,366,974 47,855,918 38,963,623
Net national bank notes
17.490,432 18,016,294 21,775,660 23,468,394
Net fractional silver.
2,144,282 2,863,378 3,146,026
2,542,084
Minor coin, &c
Total cash in Sub-Treasuries/35O,932,914 354,591,895 342,843,032 341,544,417
150,000,000 150,000,000 150,000,000 150,000,000
Less gold reserve fund
Cash balance in Sub-Treasuries..200,932,914
47,820,242
cq.sh in national banks..
6,138,299
Cash in Philippine Islands
Net Cash in banks, Sub-Treas_254,891,455
122,647,827
Deduct current Habilities_a
polities hardly attract any attention, and business, speaking
broadly, is either at a complete standstill or is merely carried on from hand to mouth.
Yet, strange to say, in the Stock Exchange there has been
throughout the week very much greater activity than before
the strike began. Prices in all directions have been put up,
and it looks as if the increasing activity would develop into
an actual boom whenever the strike ends. On Tuesday,
Mr. Asquith introduced into the House of Commons his
bill for settling ,the strike. Mr. Balfour moved its rejection;
but the second reading was carried through the House by a
majority of 123, which is the full majority of the Government. Broadly speaking, all the usual supporters of the
Government voted for it, and most of the Conservatives
voted against. Ti ere were, however, three well-known Conservatives who voted with the Government. When the notice to reject the bill was first given, it was feared that the
House of Lords intended to throw out the measure, and the
gravest apprehensions were felt lest feeling against capitalists
might thus be excited. Happily, in the course of his speech
Mr. Balfour made it clear that the motion was little more
than a manifestation of the dislike of the Conservative Party
of the special measure introduced by the Government, for
he promised that if the House of Commons passed the bill it
would not be opposed in the other Chamber. It was hoped,
then, that the measure would be carried through this week,
or, at all events, at the latest on Monday. But late on Friday evening a complete change took place. Practically in
the course of the discussion, the difference between the mine
owners and the miners had been narrowed down to the question whether the demand of the Miners' Federation that miners working underground and paid by the day should receive,
men 5 shillings a day and boys 2 shillings. When the insertion of these figures was rejected by the House of Commons,
the representatives of the Miners' Federation had an interview with the leaders of the Labor Party in the House of
Commons, and in consequence of conversations then had
by those with the Prime Minister, it was determined to suspend the bill until next week, on the understanding that a
conference of representatives of the mine owners and the
miners is to meet on Monday, under the presidentship a
the Prime Minister. The miners have agreed to leave out
the schedule of minimum wages for piece workers, to which
they had clung so tenaciously up to now, and the only question that remains is will the mine owners and the Government agree that 5 shillings and 2 shillings shall be the lowest
wage in future for men and boys, respectively, working
underground.
The Bank of England still retains control of the open market, and probably will do so for some weeks yet. The Continental bourses are all dull, in anticipation of the liquidation at the end of the month, though serious troubles are not
now anticipated.
The India Council offered for tender on Wednesday 80
lacs of its bills and telegraphic transfers, and the applications amounted to 838 lacs, at prices ranging from is. 4 1-16d.
to is. 4%d. per rupee. Applicants for bills at is. 4 1-16d.
and for telegraphic transfers at is. 4 3-32d. per rupee were
allotted 4% of the amounts applied for. Applicants above
these prices were allotted in full.
204,591,895 192,643,032 191,544,417
47,768,604 47,439,241 46,748,306
5,853,793 6,470,553 5,316,836
258,214,292 246,552,826 243,609,559
131,288,300 12.3,139,323 121,716,855
132,243,628 126,925,992 123,413,503 121,892,704
Available cash balance
$1,433,648 23 silver bullion
a Chiefly "disbursing officers' balances." I Includes
"Stock of Money."
and $3,146,025 40 minor coin, &c., not included in statement
MouttargigoinintrclaWngitsix ,exus
(From our own correspondent.)
London, Saturday, March 23 1912.
The fourth week of the great coa 1 strike has been entered
upon. The number of persons thrown completely out of
employment now exceeds the number of miners on strike,
so that considerably over two millions of people are deprived
of their means of livelihood, while a very large number
more are working short-time or have received notices from
their employers that they may have to close their works because of their inability to find coal. The condition of things,
then, has become most grave. The railway service in all directions has been immensely reduced, and the sufferings of
the very poor are exceedingly severe. Yet, fortunately,
there has been no serious disturbance of order anywhere.
Those who are not parties to the dispute and yet are deprived
of their means of livelihood have submitted to their sufferings
with wonderful patience, and the miners and the mine owners do not display that bitterness of feeling that might have
been apprehended. Still, the position is so grave that
scarcely anything else is thought of or talked of. Foreign
889
English Financial Markets—Per Cable.
The daily closing quotations for securities, dm., at London,
as reported by cable, have been as follows the past week:
London,
Thurs. Fri.
Wed.
Tues.
Mon.
Sal.
Week ending Mch. 29.
26 13-162634
d 26 13-1626 13-1626 13-162634
Silver, per oz
77 13-16 77 13-16 77 13-16 78 1-16 783(
7734
Consols, 94 per cents
15-16 78 1-16 7834
77
15-16
77
15-16
77
78
account
For
93.4234 93.501
93.6234 93.60
French rentes (in Paris) fr. 93.8234 93.70
8234
8234
8234
8234
F234
A malgamatedeopper Co__ .... 80
88
8834
89
1
88
85
Co....
Ref.
Amer. Smelt. &
834
834
834
854
854
83(
b Anaconda Mining Co
112
11134
11154
111
11134
Atch. Topeka & Santa Fe__ 1103(
106
106
106
106
106
106
Preferred
109
109
109
10834
108
10834
Baltimore & Ohio
I
91
91
91
91
91
91
Preferred
24134
24134
241
240
23934
23934
CAnadian Pacific
794
7934
7934
80
8034
8034
Chesapeake & Ohio
19
19
1934
20
20
19
Chicago Great Western
11234
11234
113
11234
11334
Chicago Milw. & St. Paul_ __111q
2434
2494
24
23
2434
23
Denver & Rio Grande
45
4434
443(
43
42
4234
Preferred
38
3894
38
38
3794
3734
Erie
5731
5731
573-4
58
573(
5734
First preferred
4654
4734
4734
48
48
473-4
Second preferred
13534
13634
13734
137
137
Great Northern, preferred_ _ _1373(
135
135
13534
135
134
134
Illinois Central _
33M
113
1g1n1
16034
161
161
16054
Louisville & Nashville
31
31
3034
3034
Missouri Kan. & Texas
66
66
66
66
653,4
65
Preferred
48
48
4754
47
4534
45
Missouri Pacific
67
67
67
67
67
Nat. RR. of Mex., 1st pref.. 67
3154
311.4
3134
31%
3134
3134
Second preferred
11334
11534
11634
11634
11634
N. Y.Central & Hud. Iliver 116X
39%
:393(
40
4034
4014
..40
Western
&
Ont.
N. Y.
11334
11234
1133-4
11331
112
11254
Norfolk dr Western
92
93
Preferred
—
1213
lii-126
%
.
.
15
4
,
1
12534
Pacific
Northern
64
6334
64
6331
6334
633-4
a Pennsylvania
82'.,'
8234
8234
8234
8194
8134
a Reading
4631
4634
4634
4694
4694
4634
a First preferred
49341
a Second preferred
i'i i8
2'i ii
2$3,4"
N34
27
Rock Island
1173(
115H
11534
11834
11434
11454
Southern Pacific
3134
307-4
3034
3034
3054
3054
Southern IV
7894
78
7734
78
7734
7734
Preferred
1763,4
17634
1763,4
17534
17534
17434
Union Pacific
9434
9434
9434
943-4
9434
9434
Preferred
6934
7034
7134
7034
69%
7034
U. S. Steel Corporation
11534
11534
116
116
116
11534
Preferred
734
7
7
7
634
731
Wabash
20
2034
19
1834
1834
1834
Preferred
593-4
593
.
5854
5854
5814
Extended 45....5854
Fill
ft a Price per share.'b E sterlingi
890
THE CHRONICLE
gounnerciat and raistellantonsgenTt
Name of Company.
[VoL. Lxxxxnr.
Per
Cent.
When
Payable
Books Closed.
Days Inclusive.
Street and Electric Railways (Concluded).
Illinois Traction, pref. (guar.)
134 April 1 Holders of rec. Mch.15a
Kokomo Marion Sc Western Trac., pref
3
April
Lake Shore Electric Sty., 1st pref. (qu.) 135 April 1 Mch. 26 to April 1
1 Holders of rec. Mch.21a
Louisville Sc Nor.Ry. Sc Ltg., A & B (qu.)
% April 1 MO.26 to Mch. 31
Louisville Traction, common (guar.)
1
April 1 Mch. 11 to Mch. 15
Preferred
234
April 1 Mch. 11 to Blab. 15
APPLICATIONS TO CONVERT APPROV
Manchester (N.H.) Trac., L. & P.(quar.) 2
April 15 Holders of rec. April la
ED.
Manila Elec. RR. & Ltg. Corp. (guar.)
The Farmers' & Mechanics' Bank of Healdsbu
135 April 1 Holders of rec. Mch.18a
rg, Cal., into "The First Nashville Railway d:
Light, pref. (quar.) _
National Bank of Healdsburg." Capital,
131
April 1 Holders of rec. Mch.23a
$100,000. Correspondent, New Orleans Ry. & Lt., pref. (guar.)
_
134 Mch. 30 !Joh. 18 to Mali. 30
S. L. Wattles, Healdsburg, Cal.
New York State Railways, corn.(guar.)
134 April 1 Holders of rec. Mch. 18
The Maud State Bank, Maud, Tex., into "The
Preferred
(guar.)
134 April 1 Holders of rec. Mch.18a
Maud National Bank."
Northern Ohio Trac. & Light, pref.,(qu.) 1% April 1
Capital, $25,000. Correspondent, J. F. Mills.
Holders of rec. Mch.15a
Maud. Tex.
Ohio Traction, common (guar.)
1
April 1 Holders of rec. Mch.26a
Ottawa Electric Ry. (guar.)
CHARTERS ISSUED TO NATIONAL
3
April 1 Holders of rec. Mch.30a
BANKS MCH. 14 TO MCH. 20. Ottumwa Ry. & Light,
Pref. (guar.)
I% April 15 Holders of rec.
10,158-The First National Bank of Westvill
e, Okla. Capital, $25,000. Pacific Gas Sc Electric, coin.(qu.)(No. 1) 131 April 15 Holders of rec. Mch.30a
Mch.15a
G. W. Jones, President; W. G. Jones, Cashier.
Philadelphia Co., corn. (qu.)(No. 122).. 1% May
1 Holders of rec. April 1
(Conversion of Philadelphia
Traction
The Westville Bank.)
$2 April 1 Holders of rec. Mali. 9a
Rico
Porto
Rys.,
Ltd.,
common
(guar.) _ _
10,139-The First National Bank of Silver
1
April 1 Holders of rec. Mch. 22
Creek, N. Y. Capital, $50,000
Preferred (guar.)
134 April 1 Holders of rec. Mch. 22
Theodore Grasho, President; Vernon T. Stewart,
Cashier. (Con.: Public Service Corp. of New Jersey (quar.)
1% MO. 30 Mali. 30 to Mch. 31 •
version of The State Bank of Silver Creek.)
Puget Sd. Tr., L.&P., corn. (qu.)(No. 1) 1
April 15 Holders of rec. Mch.29a
Preferred (guar.) (No. 1)
10,160-The Haskell National Bank, Haskell,
134 April 15 Holders of rec. Mch.29a
Okla. Capital, $25,000. Republic Ry. Sc Lt., pref.
(guar.)(No. 3) 135 April 15 Holders of rec. MO.30
J. C. Scully, President; J. W.Capps, Cashier. (Succeed
Avenue
Ridge
Passenger Ry.(guar.)._ _ $3 April 1 Mch.
s The Has17 to April 1
kell State Bank.)
Rio de Janeiro Tram., L. dc P.(quar.)131 May
1 Holders of rec. April 10
10,161-The First National Bank of Spearville,
(Ga.) Ry. Sc Light (guar.)
134 April 1 Mch. 28 to Mch. 31
Kan. Capital. $30,000. Rome
Jos.
St.
Ry., L., H.& P., pf.(qu.)(No.38) 131 April
J. H. Leidigh, President; J. H. Baird, Cashier.
(Conversion of Sao Paulo Tram.,L.&P.,Ltd.(qu.)(No.40) 2% April 1 Holders of rec. Mch.15a
1 Holders of rec. Mch. 11
The Spearville State Bank.)
Scioto Valley Tr., 1st pref. Sc pref. (rm.) 134 April 1
Holders of rec. Mch. 25
10,162-The First National Bank
of Soldier, Idaho. Capital, $25,000. Springfield & Xenia Ry. (guar.)
134 MO. 30 Holders of rec. Mch.29a
Stark Electric RR. (quar.)
•
Frank Housman, President; B. S. Stewart,
X
April
1 Mch. 26 to April 1
Cashier. (Conversion Syracuse Rapid Transit, common
(guar.) 1
Mch. 30 Holders of rec. Mch.23a
•
of the Camas Prairie State Bank, Soldier,
Idaho.)
Preferred (guar.)
134 April 1 Holders
Terre Haute Indlanap. Sc East., pf. (qu.) $1.25 April 1 Mch. 22 of roe. Meh.25a
to Mch. 31
Toronto Railway (guar.)
2
April 1 Holders of rec. Mch.15a
Tri-City Ry. Sc Light, pref.(guar.)
DIVIDENDS.
1% April 1 Holders of rec. Mch. 22
Twin City R. T., Minneap.. corn (quay.) 1% April 1 Holders of rec. Mch.11a
The following shows all the dividends announced
Preferred (guar.)
134 April 1 Holders of rec. Mch.15a
for the Union
fly.. Gas Sc Elec., pref. (quar.)_ _ _
1% April 1 Holders of rec. Mch.22a
future by large or important corporations:
Unlon Traction of Indiana, preferred__ _ _
234 April 1 Mch. 26 to April 1
Union Utilities, W. Va., corn. (qu.)
Dividends announced this week are printed in italics.
% April 1 Mch. 21 to Mch. 31
Preferred
334 April 1 Mch. 21 to Mch. 31
United Light Sc Rys., 1st pf.(qu.)(No.6) _
134 April 1 MO.22 to Mch. 31
Second preferred (quar.)(No. 6)
% April 1 Mch.
Per
When
Books Closed.
Name of Company
United Trac. Sc Elec., Providence (guar.) 131 April 1 Mch. 22 to Mch. 31
Cent. Payable.
Days Inclusive.
13 to Mch. 17
Utica Sc Mohawk Valley, corn.(guar.).
1
Mch. 30 Holders of rec. Mch.23a
Railroads (Stearn)
Preferred (guar.)
•
134 MO. 30 Holders of rec. Mch.230
Bell RR.& Stock Yards, Indianap, corn _
Virginia
Railway
dc Power, corn.(No.2)_
1
2
April 20 Holders of rec. April 6a
April 1
Preferred (quar.)
Washington Water Pow.,Spokane (guar.) 2
135 April
April 1 Holders of rec. Mch.15a
Boston & Albany (guar.).
$1.75 April 1 MO. 23 to
2
Mch. 31 Holders of rec. Feb.29a West End Street fly.(Boston) corn
April 1
Boston & Maine, common (guar.)
Western
Ohio Ry., 1st pref. (guar.)
134 April 1 Holders of rec. Mch.28a
1
Aprli 1 Holders of rec. Mch. la
Boston Revere Beach & Lynn (guar.).
Second preferred (guar.)
1% April 10 Holders of rec. Mch.28a
- - 1% April 1 Holders of rec. Mch.15a
Canadian Pacific, corn. (qu.)(No.
West
India
Elec.
Co.,
Ltd.
(guar.)
(No.17)
131 April 1 MO.23 to
63)-- 2% April 1 Holders of rec. Mch. la Wheeling
April 2
Preferred
Traction (guar.)
131 April 15 Holders of rec. Mch.30a
2
April 1 Holders of rec. Mch. 1
Chesapeake & Ohio (guar.)
Electric fly.(guar.)
3
April 1 Mch. 22 to Mch. 31
Mch. 30 Holders of rec. Mch. 8a Winnipeg
Chicago & Eastern Illinois, pref.
Youngsto
Ohio
Sc
wn
River
RR.,
(qu.)_
134 Mch. 30 Holders of rec. Mch.29a
pref.
1% April 1 Holders of rec. Mch.16a
Memphis & Gull, Preferred(guar.)Chico
Banks.
(guar.) 1% April 1 Holders of rec.
Chicago & North Western,
Aetna National (guar.)
2
corn. (guar.). 1% April 1 Holders of rec. Mch.31a
April 1 Holders of rec. Mch. 26
Mch. la Broadway, Brooklyn (guar.)
Preferred (guar.)
4
April 1 Mch. 20 to Mch. 31
2
April 1 Holders of ren. Mch. la
Chic. Rock Island & Pacific fly.(guar.)__
Chase
National
(guar.)
5
April
1g
1 Holders of rec. Mch.30a
Mch.
30 Holders of rec. Mch.15a
Colorado d; Saul/tern, first & second pref
2
April 1 Mch. 24 to
2
April 1 Mch. 27 to April 1 Chatham Sc Phenix National (quar.)
April 1
Delaware Lackawanna & Western(quar.)
Chelsea Exchange (quar.)
2
April
_
1
23-f,
April
Zilch. 30 to Mch. 31
20
Holders
of
rec.
April 3
Georgia Railroad & Banking (guar.)._
134 April 1 Holders of rec. Mch • 28a
_ 3
April 15 April 2 to April 14 Citizens' Central Nat.(guar.)
Grand Trunk, guaranteed
(guar.)
National
Iron
Coal
Sc
13i April 1 Holders of rec. Mch. 13
May
b2
3 Mch. 3 to April 4
First and second preference
2% April 1 Mch. 21 to Mch. 31
b234 May
3 Mch. 3 to April 4 Colonial (guar.)
Third preference
2
April 1 moth 23 to April 1
bl% May
3 MO. 3 to April 4 Commerce, Nat. Bank of (guar.)
Great Northern (guar.)
Avenue
Fifth
(quar.)
25
April I Holders of res. Mch.30a
y, May
1 Holders of rec. Apr.12a
Interborough Rapid Transit
National (guar.)
First
7
April
2
%
(quar.)-April
1 Holders of rec. Mch.30a
1
Holders
of rec. Mch.23a
Kansas City Southern, preferred (guar.). 1
2
April 1 Mch. 27 to Mch. 31
April 15 Holders of rec. Mch.30a First National, Brooklyn (guar.)
Keokuk & Des Moines, pref. (annual).
First Security Co.(guar.)
3
Aprll 1 Holders of rec. Mch.30a
235
April
1
Holders
of
rec.
Mch.15a
Lackawanna RR.of N. J.(guar.)
2
April 1 Mch. 28 to MO.31
April 1 Holders of rec. Mch. 9a Fourth National (par.)
(No. 1) 1
Maine Central (guar.)
7
April 6 Holders of rec. April 1
1% April 1 Holders of rec. Mch.15a Gallatin National (No. 159)
Manhattan Railway (quar.)(No. 112)_.. -1%
Garfield National (guar.)
3
April
Mch.
1
30 MO. 21 to Mali. 31
Holders
of
rec.
Mch.15a
Minn. St. Paul & S. S. M., corn. & pref.
4
33i April 15 Holders of rec Mch.22a Hanover National (guar.)
April 1 Mch. 23 to Mch. 31
Newark & Bloomfield
National
Irving
Exchange (guar.)
3
2
April 1 Holders of rec. Mch.22a
April 1 Mch. 22 to Mch. 31
N. Y. Cent. & Hud. River (guar.)
1% April 15 Mch. 28 to April 16 Liberty National (guar.)_
5
April 1 Holders of rec. Mch.300
New York & Harlem, com, and pref
2
April 1 Holders of rec. Mch.22a Manufacturers National, Brooklyn (guar.) 5
April 1 MO.23 to Mch. 31
N. Y. Lack. & Western, guar. (quar.)Market Sc Fulton National (guar.)
3
131
April
April
1
Holders
1 Mch. 20 to
of
Mch. 31
rec.
Mch.15a
New York New Haven Sc Hartford (qu.). 2
Mch. 30 Holders of rec. Mch. Pa Mercantile National (guar.)
134 Aprn 1 Mch. 24 to
April 1
Norfolk Southern (guar.)
Metropolitan (guar.)
Si April 1 Holders of rec. Mch.15a
2
April 1 Mch. 17 to Mch. 31
Norfolk & Western, preferred (guar.)
3
1
April 1 Mali. 21 to Mali. 31
May 18 Holders of rec. Apr.30a Mount Morris (guar.) (No. 49)
Northern Pacific (guar.)
Nassau
National,
Brooklyn
In
April
234
May
1
1
Mch.
Holders
(guar.)
28 to Mch. 31
of rec. Apr. 8a
Northern RR. of N. H.(guar.)-• 1% April 1 Holders of rec. Mch. 4a New Netherland
234 April 1 Holders of rec. Mch.30a
Norwich & Worcester, pref. (guar.)
4
April 1 Holders of rec. Mch.22a
2
April 1 Mch. 17 to Mch. 31 Park, National (guar.)
Philadelphia elc Trenton (guar.)
Prospect Park, Brooklyn (guar.)
134
April
23i April 10 Mch. 31 to
1 Mch. 29 to Mch. 31
April 10 Seaboard National
Pittsb. Bessemer & Lake Erie, common
(guar.)
3
April 1 Holders of rec. Mch. 28
Pius. Cin. Chic. & Si. L., cont. & pl. (qu.) 1% April 1 Holders of rec. Mch. 15 Second National (guar.)
3
April 1 Holders of rec. Mch.30a
1!1 April 25 Holders of rec. April 15
Mts. Ft.Wayne & Chic., reg. guar. (qu.) 1
Washingt
on
Heights,
Bank
2
April 1 Holders of rec. Mch.30a
of (guar.)._
X April 2 Mch. 10 to April 2
Special guaranteed (guar.)
Trust Companies.
1X April 1 Bich. 16 to April 2
Reading Company, common (guar.)
April 1 Holders of rec. Mch.28a
6
135 May
9 Holders of rec. Apr.23a Bankers (guar.)
Second preferred (guar.)
Brooklyn
(quar.)
April 1 Holders of rec. Molt. 22
5
1
April 11 Holders of rec. Mch.26a
St. Louis & San FranciscoCentral (guar.)
9
April 1 Holders of rec. Mch.23a
Chic. Sc East. III. pref. trust ctts. (qu.) 13i April
Columbia (guar.)
3
Mali. 30 Holders of rec. Mch.26a
1 MO. 17 to
April 1 Empire (quar.)
K.C Ft. S. Sc Mem. pf. tr. otts.(guar.) 1
234 Mch. 30 Holders of rec. Mali. 23
April 1 Mch. 17 to April 1
Southern Pacific (guar.) (No. 22)
Mch. 30 Mch. 27 to Mch. 31
6
13i April 1 Mch. 6 to
April 3 Equitable (guar.)
Southern Railway, preferred
2
Ma. 30 Holders of rec. Mch. 30
April 24 Holders of rec. Mch.30a Guaranty (guar.)
8
Mobile & Ohio stock trust certificates _ _
Extra
2
Mch. 30 Holders of rec. Mch. 30
2
April
1
Mch.
16
to
Mch. 31
Union Pacific, common (guar.)
Mch. 30 Mch. 24 to Mch. 31
23i April 1 Holders of rec. Mch. 2a Knickerbocker(guar.)
3
Preferred
Lawyers
Title Ins. Sc Tr.(guar.)(No. 54) 3
April 1 Mch. 16 to April 1
April 1 Holders of rec. Mch. 2a
United N. J. RR.& Canal, guar.(guar.). 2
23i April 10 Mch. 21 to Mch. 31 Long Island Loan Sc Tr., Bklyn.(guar.). 3
April 1 Holders of rec. Mch.23a
Utica & Black River, guaranteed
Mechanics of New Jersey (guar.)(No. 51) 5
33i Mch. 30 Holders of rec.Mch.30da
April 1 Mch. 30 to April 1
Warren
3% April 15 Holders of rec. April 561 Metropolitan (guar.)(No. 61)
Mch. 30 Mch. 22 to Mch. 31
6
West Jersey & Seashore
2% April 1 Holders of rec. Mch.15a Mutual Alliance (quar.).
134 April 1 MO. 26 to Men. 31
Wisconsin Central, preferred
2
April
Holders of rec. Mch.12a Mutual of Westchester Co. (guar.)
134 April 1 Holders of rec. Mch. 30
Street and Electric Railways.
New York (guar.)
Mch. 30 Mch. 24 to Mch. 31
8
Auburn & Syracuse Elec. RR., pref
Standard (guar.)
1)4
4
Mch. 30 Holders of rec. Mch.23a
Augusta-Aiken Ry. & Elec.. pref..(quar.) 1% April 15 Holders of rec. Dec.31a Title Guarantee
Sc Trust (guar.)
Mch. 30 Holders of rec. Mch. 23
Mch. 30 Mch. 16 to Mch. 31
(guar.)
5
Aurora Elgin & Chicago RR., corn.
X April 10 Mch. 24 to Mch. 25 Union (guar.)
(qu.)
1234 April 10 April 6 to
April 9
Preferred (guar.)
Mch. 30 Holders of rec. Mch. 29
135 April 10 bleb. 24 to Mch. 25 U. S. Mtge. Sc Trust (guar.)
6
Bangor Railway dc Electric, pref. (guar.) 1)(
April 1 Holders of rec. Mch. 25
April 1 Holders of rec. Mch.21a Washington (guar.)
3
Boston Suburban Elec. Cos., pref.(guar.)
Fire Insurance.
_
31 April 15 Holders of rec. April in
Brazil Railway, preferred (guar.)
April 1 Mch. 25 to
4
1% April 5 April 1 to April 5 Hanover Fire (guar.) (No. 122)
April 1
New preferred stock
Miscellaneous.
X,
5
April
April
1
to
April
5
Brooklyn Rapid Transit (guar.)
Aeolian, Weber Piano
Capital Tract.,Washington, D. C.(guar.) 131 April 1 Holders of rec. Mch. 9a Alliance Realty (quar.) Sc Pianola, pf.(gu.) 134 Mch. 30 Holders of rec. Mch.23a
April 15 Holders of rec. April 5
2
April 1 Mch. 15 to Mai. 31
Carolina Power & Light, pf.(qu.)(No.12) 1%
134 April 1 Mch. 24 to Mch. 31 Amer. Agricultural Chem., corn. (guar.). 1
April 15 Mch. 26 to April 12
Central Pennsylvania Traction
Preferred (guar.)
April 1 Mch. 22 to MO.31
134 April 15 Mch. 26 to April 12
Chattanooga Ry. & Lt. pf. (qu.)(No. 11) 3
131, April 1 Holders of rec. Mch.15a American Bank Note, preferred (guar.)
134 April 1 Mch. 16 to
April 1
Chicago City Ry. (guar.)
2% Mch. 30 Mch. 6 to Mali. 16 Amer. Beet Sugar, pref.(guar.)(No. 51)_
134 April 1 Holders of rec. Mch.160
Cincinnati & Hamilton Trac., corn.
yi April 1 Mch. 17 to Mch. 31 Amer. Brake Shoe Sc Fdy.,corn.& pf.(qu.) 134 Mch. 30 Holders of rec. Mch.20a
(qu.)
Preferred (guar.)
134 April 1 Holders of reo. Mch.16a
1'i April 1 Mch. 17 to Mch. 31 American Can, preferred (guar.)
Cin. Newport de Coy.Lt. ce Tr.,cont.(qu.).
2
April 1 Mch. 13 to Mch. 31
134 April 15 Mch. 31 to
April 15 American Caramel, preferred (guar.)._ _ _
Preferred (quar.)
135 April 15 Mch. 31 to
Si April 1 Holders of rec. Mch.11a
April 15 Am. Car Sc Foundry, corn. (qu.)(No. 38)
Cincinnati Street Ry.(guar.)
Preferred (guar.) (No. 52)
1%
April
April
134
1
Mch.
1 Holders of rec. Alch.11a
17
to
Mch
31
Cleveland Railway (guar.)
135 April 1 Holders of rec. Mch.16a American Chicle, preferred (guar.)
134 April 1 Holders of rec. kich.27a
Columbia (S.C.) By.Gas & Elee.,pf.(
134 April 1 Holders of rec. Mali. 25
April 1 Mch. 27 to April 1 American Coal Products, common (quar.)_
Colima. Newark & Zanesv.ELRy..pf.(gqu ) 1% April
Preferred (guar.)
134 April '15 Holders of rec. April 10
1 Mch. 24 to Mch. 31
134
Dallas Electric Corp., first pref. (No. u.) 3
April 8 Holders of rec. Apr.27a American Express (guar.)
3
April 1 Holders of rec. Feb.29a
6)
Second preferred (No. 9)_
2% April 8 Holders of rec. Apr.27a Amer. Gas Sc Electric, corn. (guar.)
134
April 1 Mch. 22 to April 1
Dayton & Troy Elec. By., corn. & Pf. (qu.) 131, Mch. 30
Preferred (quar.)
1% May
Holders of rec. klch.20a
1 April 16 to May 1
Duluth-Superior Trac., corn. (guar.)._ _
Amer.
Iron
Steel
Mfg.,
Sc
com.& pf. (qu.) 134 April 1 Holders of rec. Mch.23a
1% April 1 Holders or rec. Mch.15a
Preferred (guar.)_
Amer. Locomotive, pref. (guar.)
1
April
1
April 5 to
Holders
April
22
of
rec.
194
Mch.15a
April 22
Ft. Smith Light & Trac., pref. (guar.). _ _
American Malt Corporation, preferred_ __
134 Apr. 15 Holders
2
May
2 Holders of rec. Apr.19a
Frankford Sc Southwark Pass., Phila.(qu.) $4.50 Apri I 1 Holders of rec. Mch.30a American Malting, preferred
$1.24 May
of rec. Mch.15a
1 Holders of rec. Apr.19a
Germantown Pass. Ry.,Philadelphia (qu.) (1) April 2 Mch.
13 to April 1 American Manufacturing (guar.)(No. 60) 134 MO. 30 Holders of rec. Mch. 15
Halifax Elec. Tram., Ltd. (qu.) (No. 61) 9
Extra
April 1 Mch. 21 to
Mch. 30 Holders of rec. Mch. 15
2
April 1
Houghton County Traction, corn. (No. 8) 23,
1 April 1 Holders of rec. Mch.16a American Piano, pref. (guar.)(No. 16)
194 April 1 Mch. 22 to April 1
Preferred (No. 8)
Aprli 1 Holders of rec. Mch.16a
3
National Banks.-The following information regarding
national banks is from the office of the Comptroller of
the
Currency, Treasury Department:
Name of Company.
Per
Cent.
When
Payable.
Books Closed.
Days Inclusive,
Miscellaneous (Continued).
April 1 Holders of rec. Alch.15a
American Pipe & Construction (quar.)- -- 2
334 MO. 30 Holders of rec. Mch. 15
Amer. Pneumatic Service, first pref
Amer.Power & Light, pref.(qu.)(No. 10) 131 April 1 Melt. 24 to Mch. 31
2
Mch. 30 Meh. 22 to Mch. 30
American Radiator, common (guar.)
Mch. 30 Mch. 22 to Mch. 30
2
Common (extra)
30 Mch. 22 to Mch. 30
Mch.
stock)
101
common
in
Common (payable
234 Mch. 30 Holders of rec. Mch.23a
American Screw
April 15 Holders of rec. Mch.30a
1
American Seeding Machine,com.(guar.) _
131 April 15 Holders of rec. Mch.30a
Preferred (guar.)
April 15 Holders of rec. Mch.30a
Amer. Shipbuilding, pref. (quar.).......
April 1 Mch. 23 to MO.31
Am. Smelters' Sec., pf. A (qu.)(No. 29)_
131 April 1 Mch. 23 to Mch. 31
Preferred B (guar.)(No. 28)
2
April 1 Holders of rec. Mch.16a
American Snuff, common (quar.)
131 April 1 Holders of rec. Mch.16a
Preferred (guar.)_
com. & pref. (guar.).. 131 April 2 Holders of rec. Mch. la
Amer. Sugar
Mch. 30 Mob. 17 to Moir. 31
3
(quar.) (No. 91)
Ref.,
American Surety
April 15 Holders of ree. Mch.30a
American Telephone & Telegraph (quar.) 2
131 April 1 Feb. 22 to Mch. 13
American Tobacco, pref. (quar.).
1
April 15 Holders of rec. Apr.10a
American Type Founders, common
131 April 15 Holders of rec. Apr.10a
Preferred (guar.)
April 4
131 April 15 Mch. 26 to
American Woolen, pref. (qu.)(No. 82)._
April 1 Holders of rec. Mch.lba
El
American Writing Paper, preferred
Anaconda Copper Mining (guar.)(No. 46) 50c. April 17 Holders of rec. April 6
April 15 Holders of Coupon No. 1
10
Anglo-Amer. Oil
131 April 15 Holders of rec. Mch.30a
Associated Gas & Electric, pref.(guar.)_
2
April 15 Holders of rec. Mob. 25
Bell Telephone of Canada (guar.)___
131 April 15 April 5 to
Bell Telephone of Pennsylvania (guar.) _
2
April 1 Mob. 24 to Mob. 31
Bliss (E. W.) Co., Preferred (Var.)__
331 May 15 Holders of rec. May 8
Bond & Mortgage Guarantee (guar.)
___ 3
Mob. 30 Mch. 3 to Mch. 31
Booth Fisheries, preferred
231 Mch. 30 Holders of rec. Mch. 30
British-Amer. Tobacco, Ltd., ordinary_
Brooklyn Union Gas (guar.) (No. 44).
131 April 1 Mch. 17 to Mch. 31
April 1 Holders of rec. Mch.20a
Brunswick-Balke-Collender, pref. (guar.)
Mch. 30 Holders of rec. Mch. 20
Buffalo General Electric (guar.)(No. 70)_
April 1 Holdersof rec.dMeh.20a
Butte Electric & Power, common (guar.)
pref.
Generating,
(guar.)
131
April 1 Holders of rec. Mch.20a
Elec.
California
April 1 Holders of rec. Mch.15a
2
Cambria Iron _
April 1 Holders of rec. Arch. 21
Canadian Cons. Rubber, Ltd.. corn.(qu.) 1
131 April 1 Holders of rec. Mch. 21
Preferred (guar.)
April 3
131 April 4 Mch. 23d to
Canadian Cottons, Ltd., pref.(guar.) _ _
Canadian General Elec., Ltd., com.(qu.) 131 April 1 Mch. 15 to Mob. 31
Preferred
331 April 1 Mob. 15 to MO.31
Canadian Westignh., Ltd. (qu.)(No. 29) 131 April 10 Mch. 31 to April 9
Case (J. I.) Threshing Machine, preferred
131 April 1 Holders of rec. Mch. 18
31 April 1 Mch. 6 to Mch. 31
Celluloid Company (guar.)
1;411 April 15 April 1 to April 15
Central Coal & Coke, corn. (guar.)
1.3.i April 15 April 1 to April 15
Preferred (guar.)
131 April 1 Holders of rec. Mch.l]a
Central Leather, preferred (guar.)
Central & South Amer. Telegraph (gnat.). 131 April 9 Holders of rec. Mch.30a
April 2 Mob. 5 to April 2
(guar.)
$6
ChesebrOugh Manufacturing
April 2
April 2 Mch. 5 to
$4
Extra
April 1 Mch. 13 to Mch. 31
Chic. Jot. Rys. & U. Stk. Yds.,com.(qu.) 2
31
Mch.
to
13
Mch.
1
April
Preferred (guar.)
131
April 25 April 16 to April 25
Chicago Pneumatic Tool (guar.) (No. 20). 1
Mch.20a
rec.
of
Holders
30
MO.
2
(guar.)
Telephone
Chicago
1-3 April 1 Holders of rec. Mch.20a
Cities Service, common (monthly)
A April .1 Holders of rec. Mch.20a
Preferred (monthly)
131 April 1 Holders of rec. Mch. 27
City Investing, pref.(guar.)
131 April 1 Holders of rec. Mch.15a
Columbus (0.) Gas & Fuel, pref. (quar.)_
131 April 1 Holders of rec. Mch.15a
Columbus (0.) Light, Heat & Pow.,com_
131 April 1 Holders of rec. Mch.15a
Preferred
Cons. Gas, ELLL&Pow.,Balt.,com.(qu.) 131 April 1 Holders of rec. Mob. 25
April 1 Holders of rec. Mob. 25
3
Preferred
Consumers' Power (Mich.), pref. (guar.). 131 April 1 Holders of rec. Mch.15a
Continental Paper Bag, com.(gu.)(No. 28) 131 Mch. 29 Holders of rec. Mch. 28
131 Mch. 29 Holders of rec. Moll. 26
Preferred (guar.)(No. 47)
April 15 Holders of rec. Mch.30a
Corn Products Refining, pref.(guar.)._ __ 2
131
NIch. 30 Holders of rec. Moh.20a
-34)(NO.
(guar.)
pref.
Steel,
Crucible
131 April 1 Holders of rec. Mch.15a
Cuban-American Sugar, pref. (guar.) _ _
231 April 15 Holders of rec. April la
Delaware Lack. & Western Coal (guar.)
131 April 15 Holders of rec. Mch.30a
Detroit Edison (guar.)
31 April 30 Holders of rec. April On
Distillers Securities Corp. (guar.)(No. 38)
April 29 Holders of rec. Apr.10a
Distilling Co. of America, preferred (guar.) 1
22)
April 1 Holders of rec. M h.184
(No.
pf.
Ltd.,
331
Dominion Iron & Steel,
April l Holders of rec. Mch. 20
Dominion Steel Corp., Ltd. (qu.)(No. 4) 1
du Pont (E.I) de Nem. Pow., pref. (qu.) 151 April 25 April 10 to .Apr11.25
151 April 1 Holders of rec. Meh.22a
du Pont Internat. Powder, pref. (quar.)_
Mch, 30 Holders of rec. Mch.20a
2
Eastern Light & Fuel (guar.)
1 Holders of rec. Mch.30a
May
10
(extra)
common
Eastman Kodak,
231 April 1 Holders of rec. Mch.15a
Eastman Kodak, common (quar.)
731 April 1 Holders of rec. Mch.15a
Common (extra)
131 April 1 Holders of rec. Mch.15a
Preferred (guar.)
April 1 Holders of rec. Mch.29a
Electrical Securities Corp., com. (quar.)_ 2
1 Holders of rec. Apr.27a
134 May
•
(guar.)
Preferred
Mch.30a
Electrical Utilities Corp., PI. (V.)(No. 8) 151 April 15 Holders of rec.
April 1 Holders of rec. Mch.25a
Electric Storage Battery, com.& pf.(qu) 1
Mob. 31
to
1
Mob.
30
Mch.
$4
common
Galena-Signal OH;
Mch. 30 Mch. 1 to Mch. 31
$2
Preferred (guar.)
131 April 1 Holders of rec. lich.21a
General Chemical, preferred (guar.)
General Chemical of Cal., 1st pref. (qu.). 131 April 1 Holders of rec. Mch. 21
April 15 Holders of rec. Mch. 2a
2
General Electric (quar.)_
April 1
151 April 1 Mch. 26 to
General Fireproofling, pref.(quar.)
_ 30c. April 30 Holders of rec. Mch.30a
Goldfield Consolidated Mines (guar.)
20e. April 30 Holders of rec. Mch.30a
Extra
151 April 1 Holders of rec. NIch.23a
Gorham Mfg., pref. (quar.)•
131 April 1 Holders of rec. Mch.15a
Great Lakes Towing, preferred (guar.) _ _
April 1
MO. 18 to
Guggenheim Exploration (guar.)(No. 37) 231 April 1 Holders
of rec. Mch.20a
131 Mch. 30
Hart, Schaffner & Marx, pref. (quar.)_
131 April 1 Holders of rec. Mch.16a
Helme (Geo. NV.), preferred
April 1 Mch. 22 to Mob. 31
1
Indiana Lighting.
131 Mch. 30 Holders of rec. Mob. 20
Intercontinental Rubber, pref. (guar.)._
April 15 Holders of rec. April 6
(MO(N0.58) 1
Int. Button-Hole Sew;Man.
April 15 Holders of rec. April 5
1
Extra (No. 1)
Holders of rec. Mch.25a
Internat. Harvester, corn.(guar.)(No. 9) 151 April 15
1 May 14 to June 2
June
7
International Nickel, common (quar.)_
April 14 to May 1
1
May
131
Preferred (quar.)
A April 15 Holders of rec. April 2a
International Paper, preferred (guar.) _
April 1
131 April 1 Feb. 28 to
International Sliver, pref. (quar.)___
Ne April 1 Feb. 28 to April 1
Preferred (extra)
May 15 May 2 to May 15
le
Preferred (extra)
April 1 Holders of rec. Nich.22a
Inter. Smokeless Pow.&Chem., com.(qu.) 1
May 15 Holders of rec. May 4a
4
Preferred
Kansas Gas & Electric, pref.(qu.)(No.8) 151 April 1 Mch. 24 to Mch. 31
Aprli 1 Mch. 26 to Mch. 31
Kayser (Julius) & Co., corn.(qu.)(No. 1) 1
April 1 Holders of rec. Nich.15a
3
Knickerbocker Ice. preferred (No. 26)...
231 Mch. 30 Mch. 21 to Mch. 31
LaBelle Iron Works (guar.) _
134 Mch. 30 Holders of rec. Mch. 23
Lanston Monotype Machine (quar.)
April 17
231 April 20 Mch. 31 to
La Rose Consol. Mines (guar.)
April 1 Holders of rec. !doh. 2.5
Lawyers' Mortgage (guar.)(No. 42)..... 3
131 April 1 Feb. 16 to Mch. 11
Liggett & Myers Tobacco, pref
Mackay Companion, corn.(guar.)(NO. 27) 131 April 1 Holders of rec. Mch. Oa
April 1 Holders of rec. Mch. Oa
1
Preferred (guar.) (No. 33)
April 15 Mch. 31 to April 15
1
Manufacturers' Light & Heat, Pittsburgh _ _
1 Holders of rec. April 15
May
Massachusetts Gas Cos., common (guar.) 1
Cos.
15 Holders of rec. Mch.25a
Lighting
(guar.)
April
151
(No34)
Massachusetts
pref. (guar.). _
154 April 1 Holders of rec. Mch. 20
May Department Stores,
231 Mch. 30 Holders of rec. Mch. 9a
Mergenthaler Linotype (guar.)
A Mob. 30 Holders of rec. Mch. Oa
_____________
___
Extra
231 April 16 Holders of rec. /doh 30a
Mexican Telegraph (guar.)(guar.) _
April 1 Holders of rec. Meh.15a
preferred
131
Light,
Michigan
_
1% May 15
Milwaukee & Chicago Breweries, Ltd__
131 April 1 Holders of rec. Mch. 25
Mortgage-Bond Co.(quar.)
154 April 15 Holders of rec. Meli.28a
Nat. Biscuit, com.(quar.)(No. 54)
April 15
135 April 15 April 0 to
National Carbon, common (guar.)
April 1
-prof.
154 April 1 Mch. 13 to
(Mum)
Stpg.,
&
Enamel.
Nat.
April 5
rec.
(guar.)._
of
1
Holders
15
April
intl.
National Fire Proofing,
(guar.) 131 April 1 Mch. 28 to Mch. 31
Nat. Gas, Elec. Lt. & Pow., pref.
Mch. 13
to
9
Mob.
MO.
30
31
(guar.)
common
National Lead,
Mob. 30 Mob. 26 to Mch. 31
National Licorice, pref. (guar.) (No..39). 131
(guar.) 131 April 2 Mch. 28 to April 1
National Light, Heat d: Power, prof.
131 Awl! 2 Holders of rec. Mch. 16
National Sugar Refining. pref.((man)
131
135
131
135
131
--
891
THE CHRONICLE
MAR. 30 1912.]
Per
Cent.
Name of Company.
When
Payable.
Books Closed.
Days Inclusive.
Miscellaneous (Concluded).
April 1 Mch. 21 to Bich. 31
National Surety (guar.)
3
Nevada Consolidated Copper (guar.) _
3734c. Mch. 30 Mch. 9 to Bich. 11
New England Telep. & Teleg.(guar.)-1% Mch. 30 Holders of rec. Mch.15a
April 1 Holders of rec. Mch.25
3
N. Y. Mortgage & Security (guar.)
New York Transit
$10 April 15 Holders of rec. Mch.16a
2
April 15 Holders of rec. April la
Niagara Falls Power (guar.)
1
April 15 Holders of rec. Mob. 25
Nipe Bay Co., pref. (guar.)
5
April 20 Mob. 31 to April 17
Nipissing Mines (guar.)
Extra
251 April 20 Mch. 31 to April 17
1% April 1 Holders of rec. Meh.21a
North American Co.(guar.)
IN April 15 Holders of rec. Mch.30a
Northern States Power, pref. (guar.)
Nova Scotia Steel & Coal,Ltd.,com.(qu.) 134 April 15 Holders of rec. Mch. 30
2
April 15 Holders of rec. Mob.30
Preferred (guar.)
Oklahoma Gas & Elec., pref.(guar.)
134 April 15 Holders of rec. Meh.30a
April 15 Holders of rec. Mch. 30
1
Otis Elevator, common (guar.)
IM April 15 Holders of rec. Mch. 30
Preferred (quar.)
Pay-as-You-Enter Car Corp., pref. (guar.) 14 April 15 April 11 to April 15
April 15 Holders.of rec. April 10
Pennsylvania Salt Mfg.(No. 98)
Pittsburgh Coal, preferred (guar.)
131 April 25 Holders of rec. April 13
Pittsburgh Plate Glass, corn. (guar.) _
1% April 1 Mob. 16 to Apra 1
Apt, 1
April 1 Mch. 16 to
Preferred (annual)
12
Prairie Oil & Gas
Mch. 30 Holders of rec. Feb. 29
$7
April 15 Holders of rec. Mch.23a
Procter & Gamble, pref. (guar.)
2
Producers 011
134 Mob. 30 Holders of rec. Mch.16a
P. Lorillard, preferred
1% April 1 Feb. 21 to Mch. 12
Quaker Oats, common (guar.)
234 April 15 Holders of rec. April le
Preferred (guar.)
134 May 31 Holders of rec. May la
April 15 Holders of rec. April 5
Reece Button-Hole Mach. (qu.) (No.104) 3
Mch. 30 Holders of rec. Meh.15a
Royal Baking Powder. common (guar.). 3
1% Mch. 30 Holders of rec. Mch.15a
Preferred (guar.)
$2.34 April 1 Mob. 21 to Mch. 31
Rumely (M.) Co.. pref. (qu.);(No. 1)
2
April 1 Holders of rec. Mch.15a
Safety Car Heating & Ltg. (guar.)
Si. Joseph Stock Yards (guar.)
134 Mch. 31 Holders of rec. Mch. 24
San Diego Cons. Gas et; Elec., pref. (guar.) • 154 April 15 Holders of rec. Mch.30a
134 April 1 Mch. 23 to April 1
Scranton Electric Co., pref. (guar.)
1% April 1 Holders of rec. Meh.15a
Sears, Roebuck & Co., preferred (quar.)_
134 April 20 Holders of rec. April 8
Shawinigan Water & Power (guar.
1 Holders of rec. Apr.15a
Sierra Pacific El. Co., pf. (qu.) (No. 11) $1 50 May
Slow-Sheffield Steel & Iron, pref. (quar.) 1% April 1 Holders of rec. Mch.18a
151 April 15 Holders of rec. Mch.30a
Southern California Edison, pref. (guar.)._
April 1 Holders of rec. Mch.15a
South Porto Rico Sugar, common (guar.) 1
April 1 Holders of rec. Mch.15a
2
Preferred (guar.)
South West Pennsylvania Pipe Lines...- $5 April 1 Mch. 16 to Moir. 31
50c. Mch. 31 Mch. 18 to Mob. 31
Spring Valley Water (guar.) _
April 15 April 9 to April 15
3
Standard Milling, preferred (No. 18) _ _
(h) May 15 April 2 to May 14
Standard Oil of Indiana
April 15 Mch. 16 to April 14
1-3g
33
011
Nebraska..
of
Standard
134 April 1 Holders of rec. hich.23a
__
Subway Realty (guar.)
1% April 1 Mch. 16 to Mch. 31
Sulzberger & Sons Co., pref. (guar.)._
131 April 1 Holders of rec. Mch. 9
Swift & Company (guar.)(No. 102)
13.1 Mch. 30 Holders of rec. Mch.16a
Texas Company (guar.)
April 1 Holders of rec. Mch.20a
Underwood Typewriter, common (guar.) 1
1% April 1 Holders of rec. Mch.20a
Preferred (guar.)
April 15 Mch. 20 to April 9
Union Bag & Paper, pref.(qu.)(No. 52). 1
2
April 1 Mch. 14 to Apr. 2
Union Carbide (guar.)
April 10 April 1 to April 10
Union Switch & Signal,com. & pref.(qu.)
April 1 Holders of rec. Mch. 23
Union Typewriter, 1st preferred
4
April 1 Holders of rec. Bich. 23
Second preferred
United Cigar Stores:Corp. of(qu.)(No.11) 134 April 15 April 2 to April 15
50e. April 15 April 2 to April 15
Extra
2
April 15 Holders of rec. Mch.25a
United Fruit (guar.)(No. 51)
April 15 Holders of rec. Mch.30a
2
United Gas Improvement (guar.)
6 Holders of rec. Mob. 18
2
April
common
(guar.)
Machinery,
Shoe
United
134 April 6 Holders of rec. Mch. 18
Preferred (quar.)
April 1 Holders of rec. Mch. 21
1
U.S. Finishing, corn. (guar.)(No. 13)._
April 1 Holders of rec. Mch. 21
Preferred (guar.)(No. 51)
April 15 Holders of rec. April 8a
U. S. Industrial Alcohol, pref. (guar.) __
April 1 Mch. 21 to April 1
U. S. Printing of Ohio (guar.)
April 15 Holders of rec. hich.30
U. S. Smelt., Refg. & Min., corn. (guar.)
April 15 Holders of rec. Mob. 30
Preferred (guar.)
Mob. 30 Mob. 2 to Mch. 12
33).
(No.
(qu.)
corn.
U. S. Steel Corp.,
April 1 Mob. 24 to April 1
United Utilities, pref. (guar.) (No. 5) ___
Mob. 30 Mob. 9 to Mch. 11
Utah Copper Co.(guar.)(No. 15).
1 Holders of rec. Mch.20a
April
(guar.)
Utah Gas & Coke, preferred
April 15 Mch. 31 to April 14
Va.-Carolina Chem., pref. (Qll.)(No. 66).
April 20 Holders of rec.April 10a
VulcanDetinning, preferred (guar.)
Mob. 30 Holders of rec. Mch.23a
Western Electric (guar.)
April 15 Holders of rec. Mch.30a
Western States Gas & Elec., pref. (guar.) _
April 15 Holders of rec. Mch.20a
172).
(No.
Union
Teleg.
(guar.)
Western
April 10 April 1 to April 10
Westinghouse Air Brake (guar.) ____
April 10 April 1 to April 10
Extra
April 10 April 1 to Apr11•10
Special
April 30 Holders of rec. April 5
Westinghouse Elec. & Mfg., com.(No. 1).
1% April 15 Holders of rec. April 5
Preferred (guar.)
134 April 1 Holders of rec. Mch.16a
Weyman-Bruton Co., preferred (guar.)
1% April 1 Holders of rec. Moll lla
Woolworth (F.W.) Co. pref. (No. 1)
Mob. 30 Mch. 13 to Mch. 31
151
(No.
11)'
Yukon Gold Co. (guar.)
a Transfer books not closed for this div dend. b Less income tax. d Correction.
stk. p Payable in stock.
common
in
Payable
f
e On account of accumulated diva.
h Stock dividend of 2,900%. 1 $1.3134•
3
351
Auction Sales.-Among other securities, the following, not
usually dealt in at the Stock Exchanges, were recently sold at
auction in New York, Boston and Philadelphia:
By Messrs. Adrian H. Muller & Sons, New York
Percent.
Shares.
273
00 Hamilton Trust Co
17531
3 N. Y. Prod. Ex. Bank
5 N. Y. Prod. Ex. S. D. &
Stor. Co. $50 each _ _$160 per sh.
70 Tefft-Weller Co., pref _ _$105 lot
50,000 Santo Domingo Mg. Co.,
ta.3 Inc.in Del., com.,$1 each _$30 lot
1 Blooming Grove Hunt. &
$5
Fishing Club
8 Fidelity-Phenix Fire Ins.Co.32234
1047
4*Central Trust Co
415
10 Metropolitan Trust Co
Per cent.
Shares.
7 N. Y. Life Ins. & Tr. Co.,
1030-1040,
.'
_150
' 25 Nassau Tr. Co.of Bklyn
323
7 Fulton Trust Co
2 United States Trust Co .. _ _ _1132
1325
2 Union Tr. Co.of N.Y
450
20 Chendcal Nat. Bank
50
25 Jefferson Bank
. 20 Menhaden Fishing Co..$26 per sh.
Percent.
Bonds.
$500 Mt. Royal Cemetery Cert. of
$75
Indebt., due 1913
By Messrs. Francis Henshaw & Co., Boston:
Shares.
24 Pepperell Mfg. Co
5 Border City Mfg, Co
5 Hamilton Mfg. Co
2 Wilton RR. of N. H
$ per sh. Shares.
9 Lowell Gas Light Co
28251-283
Hotel Trust (Touraine)
12231
8531 100 Sealshipt oyster.....
5 Appleton Mfg. Co
22034
30
_
$ per Q.h.
301
11734
2831-27
171
By Messrs. R. L. Day & Co., Boston:
Per cent.
$ per sh. Bonds.
Shares.
2,000 Bangor & Aroos. RR. cons.
125
2 Lyman Mills
8034
1951
4s,
ref.
9534
3 Continental Mills
12.3
2,000 Bos. & Alb. RR.334s. 1951_ 86'%
3 Arlington Mills
__
4s,
1942
RR.
Me.
_108
6,000
&
_
Bost.
Co
Realty
H.,
N.
Concord,
150
212
4,000 Fort St. Un. Depot 1st 430,
10 Lawrence Gas Co
9034
1941
20 Haverhill Bldg.Trust _ _95 & int... _
&
95
Trust
int.
East.SS. Corp. 1st diz ref. 5s,
10,000
W'house
20 Springf'd
9251
1941, interim bond
318 Rights Taunton & New Bed1431 2,000 Minneap. Gen. Elec. Co. 1st
ford Copper Co
10131
1934
5s,
Cons.
114
common_
Co.,
10 American Glue
1918_10034
150 Sealshipt Oyster Sys., com _ _ __ 2834 5,000 Torrington Co. 1st 58,1931_ 96
Per cent. 1,000 Clyde SS. Co. 1st 55,
Bonds.
'57 83
45,
deb.
Co.
Secur.
2,000 Prov.
$2,000 Providence, R. I., 4s, 1921,
10034 2,000 Springfield W'h'se Trust 1st
sewer loan
96
1935
5s,
M
1944_
_102
430,
RR.
M.
10,000 Dos. &
Trust 1st
7,000 Old Colony RR.4s, 1925_ 9934 3,000 Haverhill Bldg.
97
1936
55,
RR.
Aroostook
&
Bangor
1,000
2.000 Seattle Elec. Co. Cons. &
1st 5s, 1943, Piscataquis
98%
Ref. 58, 1929
10534
Division
9334
892
THE CHRONICLE
By Messrs. Barnes & Lofland, Philadelphia:
mares.
$ per aft.
22 Nat. Bank of Germantown,$50
each
140
13 Ins. Co. of State of Pennsylv..150
30 Penn Nat. Bank, S60 each.. _ _191 yi
5 Northern Trust Co
456
6 Kittanning Coal Co
12%
19 Fourth Street Nat. Bank
325
12 Girard National Bank_ _430 -433
10 Commercial Trust Co
422
10 Equitable Trust Co
100
10 Fairmount Savings Trust Co 119
50 Integrity T. I. T. dr S. D. Co.,
$50 each
154
33 People's Trust Co., $50 each.. 50
46 Real Estate T. I. & T. Co__ _ _300
75 People's Nat. Fire Ins. Co.,
$25 each
25-253i
3 2d & 3d Streets Pass. Ry
252
43 Germantown Pass. By__ _.112-1123‘
Shares.
$ per sh.
6 John B. Stetson Co., pref
190
4 John B. Stetson Co., oom_487-4893
20 J. G. Brill Co., pref
99
10 Phila. Bourse, pref., $25 each. 9
4 Phila. Bourse, corn., $50 each. 4
250 Standard Roller Bearing Co.,
corn., $50 each
5
31 Phila. Life Ins. Co.,$10 each
11
6 Internat. Lum & Dev. Co ,
$50 each
17 M
240 Rights to subscribe to Camden
Fire Insurance Co
1
Bonds.
Percent.
$1,000 Union Pass. Ry. 1st 45, 1960 98)i
$1,000 Luzerne Co. Gas & Elec. 1st
ref. 5s, 1948
063
$2,000 So. Del. Gas Co. 1st 68, 1930 52
$1,000 Springt. Water Co. 54, 1926A00
$1,000 No.Springf.Wat.Co.5s, 1928 100
By Messrs. Samuel T. Freeman Sr Co., Philadelphia:
Share's.
$ per sit.
11 John B. Stetson Co., corn_ _490-500
5 Phila. Life Ins. Co., 810 each
11
7 J. (I. Brill Co., eommon
173
10 J. G. Brill Co., preferred
98%
5 First National Bank
235
5 First Mtge. Guar. & Tr. Co_ _ _101
Shares.
$ Pef sh.
1 Harrisburg P. Mt. J. & L. RR_ 94)4
12 Delaware RR. Co
45%
Bonds.
Per cent.
$1,000 Spring!. Wat. Co. 5s, 1926_100
$1,000 No.Springf.Wat.Co.54,1928_100
$1,000 Pa. & Md.Steel Co.6s, 1925 107k
Canadian Bank Clearings.-The clearings for the week ending March 23 at Canadian cities, in comparison with the same
week of 1911 shows an increase in the aggregate of 18.5%.
Week ending March 23.
Cloarings at1912.
CanadaMontreal
Toronto
Winnipeg
...
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
London
Calgary
Victoria
Edmonton
Regina
Brandon
Lethbridge
Saskatoon
Brantford
Moose .taw
Fart William__
Total Canada_
1911.
Inc. or
Dec.
$
$
%
45,994,408
42,945,491
+7.1
38,000,000
34,215,050 +11.1
25,590,000
19,371.655 +32.1
11,761,254
9,741,605 +20.9
5,715,774
4,034,223 +41.7
2,248,530
2,035,655 +10.5
1,916,766
1,355,059 +41.4
2,761,993
1,912,360 +44.4
1,448,948
1,382,301
+4.8
1,468,998
1,264,839 +17.1
4,701,025
3,684,792 +27.6
3,260,105
2,720,193 +19.5
3,783,515
2,038,337 +85.6
2,092,534
1,054,464 +98.4
487,018
513,185 -5.1
526,040
748,782 -29.6
2,032,724
916,722 +120.6
497,998
484,532 +2.8
1,043,306
'682,098 +53.0
504,327 Not included in total
155,330,936
131,081,343 +18.5
1910.
1909.
$
43,697,745
25,426,109
14,299,473
8,671,250
4,107,203
2,103,674
1,676,420
1,542,796
1,298,020
1,133,596
2,482,592
1,696,958
1,017,864
718,710
405,000
109,153,700
$
28,777,207
22,582,798
10,744,233
5,066,748
3,040,759
1,996,054
1,452,216
1,176,980
1,224,895
939,369
1,343,355
971,21)0
769,610
80,085,514
Statement of New York City Clearing-House Banks and
Trust Companies.-The detailed statement below shows the
condition of the New York City Clearing-House members
for the week ending Mch. 23. The figures for the separate
banks are the averages of the daily results. In the case of
the totals, actual figures at the end of the week are also given.
For definitions and rules under which the various items are
made up, see "Chronicle," V. 85, p. 836, in the case of the
banks, and V. 92, p. 1607, in the case of the trust companies.
DETAILED RETURNS OF BANKS.
We omit two ciphers (00) in NJ cases.
Banks.
00a omitted.
Capital. Surplus.
Bank of N. Y. 2,000,0
Manhattan Co. 2,050,0
Merchants'
2,000,0
Mech.& Metals 6,000,0
America
1,500,0
City
25,000,0
Chemical_ _ _ 3,000,0
Merchants'Ex.
600,0
Gallatin
1,000,0
Butch. & Drov
300,0
Greenwieh _
' 500,0
ArnericanExch 5,000,0
Commerce._
25,000.0
Mercantile _
3,000,0
Pacific
500,0
Chat.& Phenix
2,250,0
People's
200,0
Hanover
3,000,0
Citizens' Cent_
2,550,0
Nassau
500,0
Market & Fult 1,000,0
Metropolitan _
2,000,0
Corn Exchange 3,000,0
Imp.& Traders 1,500,0
Park
5,000,0
East River...
250,0
Fourth
5,000,0
Second
1,000,0
First
10,000,0
Irving Exch
2,000,0
Bowery
k 250,0
N. Y. County_
500,0
German-Amer.
750,0
Chase
5,000,0
Fifth Avenue_ 111100,0
German Exch.
.200,0
Germania _ _
200,0
Lincoln
1,000,0
Garfield
1,000,0
Fifth
250,0
Metropolis _
1,000,0
West Side....
200,0
Seaboard
1,000,0
Liberty
1,000,0
N.Y. Prod. Ex 1,000,0
State
1,000,0
Security
1,000,0
Coal dr Iron
1,000,0
Union Ezell
1,000,0
Nassau, Bklyn 1,000,0
$
3,724,8
4,697,1
1,949,6
8,497,5
6,208,4
27,824.4
7,078,0
551,1
2,560,6
142,1
898,4
4,672,3
15,917,8
2,775,4
942,3
1,239,0
463,6
13,105,5
1,996,2
548,6
1,831,2
1,645,6
5,404,2
7,631,1
13,075,7
62,9
5,807,7
2,391,3
21,270,7
2,050,3
803,6
1,673,
732,9
9,102,7
2,159,5
887,9
1,042,9
1,701,0
1,249,5
533,6
2,155,
1,068,3
2,136,2
2,741,5
801,6
970,9
478,4
479,2
964,6
1,092,7
Loans.
Average.
Specie. Legate. Net Depos- ReAverage. Average. its, Aver. serve.
21,766,0 4,455,0
748,0
34,350,0 7,945,0 1,384,0
21,113,0 4,145,0 1,390,0
56,090,0 11,776,0 1,950,0
27,654,0 5,261,0 2,082,0
197,149,0 46,880,0 6,771,0
, 28,583,0 4,600,0 2,105,0
7,018,0 1,654,0
146,0
8,766,0 1,392,0
390,0
2,122,0
519,0
56,0
. 8,699,0 2,305,0
180,0
42,758,0 8,148,0 2,389,0
147,892,0 23,663,0 6,199,0
14,348,0 1,778,0 1,162,0
4,348.0
516,0
574,0
17,402,0 2,806,0 1,492,0
1,974,0
431,0
147,0
76,735,0 16,633,0 5,483,0
22,896,0 5,071,0
629,0
10,704,0 2,267,0 1,120,0
9,213,0 1,546,0
985,0
11,211,0 2,887,0
233,0
47,894,0 8,085,0 6,436,0
25,845,0 3,783,0 2,009,0
90,890,0 22,291,0 2,061,0
1,445,0
339,0
104,0
35,758,0 6,739,0 2,960,0
14,574,0 3,448,0
148,0
123,773,0 27,672,0 2,274,0
26,112,0 6,072,0 1,930,0
3,343,0
56,0
855,0
8,629,0 1,401,0
700,0
4,048,0
842,0
217,0
97,820,0 23,348,0 6,799,0
13,323,0 2,868,0 1,006,0
3,415,0
425,0
451,0
5,471,0 1,423,0
229,0
14,706,0 ' 3,432,0
937,0
9,333,0 2,324,0
230,0
3,388,0
408,0
527,0
12,789,0 1,558,0 1,734,0
4,266,0
919,0
264,0
25,313,0 5,708,0 2,285,0
19,058,0 4,049,0
944,0
8,401,0 2,190,0
439,0
14,516,0 5,008,0
357,0
11,446,0 2,424,0 1,055,0
6,394,0 1,232,0
435,0
9,130,0 1,076,0 1,278,0
7,980,0 1,519,0
266,0
$
19,992,0 26.0
38,450,0 24.2
21,721,0 25.4
54,345,0 25.2
28,332,0 25.9
198,217,0 27.0
25,743,0 26.0
7,277,0 24.7
6,938,0 25.6
2,115,0 27.1
9,920,0 25.0
41,847,0 25.1
125,403,0 25.4
11,268,0 26.0
4,107,0 26.5
17,613,0 25.0
2,148,0 26.9
86,205,0 25.6
22,006,0 25.8
13,058,0 25.9
9,310,0 27.1
11,536,0 27.0
56,860,0 25.5
23,139,0 25.0
06,281,0 25.2
1,737,0 25.5
37,756,0 25.6
14,275,0 25.1
118,910,0 25.1
28,997,0 27.5
3,554,0 25.6
8,796,0 23.8
3,902,0 27.1
112,888,0 26.7
15,099,0 25.6
3,493,0 25.0
6,430,0 25.2
15,691,0 27.7
9,714,0 26.2
3,613,0 25.9
12,993,0 25.3
4,835,0 24.4
30,152,0 26.5
19,804,0 25.2
10,058,0 26.1
20,867,0 25.7
14,405,0 24.1
6,595,0 25.2
9,188,0 25.6
6,963,0 25.6
Totals, Avge__ 135,150,0 199,829,9 1421,751,0 298,206,0 77,746,0
1454,546,0 25.8
Actual figures March 23
1423,816,0 293,315,0 77,301,0 1452,042,0 25.5
Circulation.-On the basis of averages, circulation of national banks in
the
Clearing House amounted to $50,633,000, and accord ng to actual fignres
was
650,522,010.
[VoL. Lxxxxiv.
DETAILED RETURNS OF TRUST COMPANIES.
On Dep.
Net
Trust Cos. Surplus. Loans. Specie. Legals. with C
Deposits. Reserve.
00s omitted.
Average. Average. Average. Banks. Average.
$
Manhattan
2,252,1 15,811,0 1,717,0
150,0 1,501,0 12,211,0 15.2+10.
Brooklyn ____ 2,414,7 20,693,0 2,091,0
523,0 1,890,0 16,558,0 15.7+10.
Bankers
13,518,4 131,620,0 15,009,0
182,0 11,273,0 100,973,0 15.0+ 10.
U.S. Mtg.& Tr 4,502,2 45,401,0 3,526,0
529,0 5,834,0 27,012,0 15.0+17.
Astor
1,139,4 18,763,0 2,150,0
31,0 1,845
14,540,0 15.0+10.
Title Gu.& Tr_ 11,714,4 35,257,0 1,670,0 1,632,0 2,633, 21,673,0 15.3+10.
Guaranty
22,888,1 170,888,0 15,031,0 1,516,0 12,489, 108.279,0 15.2+10.
Fidelity __
1,283,4 7,687,0
678,0
238,0
5,786,0 15.8+ 10.
840,
Law yersT.I.&T 6,171,5 19,973,0 1,336,0 1,043,0 1,651, 15,990,0 15.4+ 9.
Columbia
1,893,6 20,327,0 1,791,0
80,0 1,450, 12,388,0 15.1+10.4
Standar
1,411,2 15,434,0 2,017,0
60,0 2,518, 13,632,0 16.2+15.5
People's
1,696,7 16,514,0 1,743,0
454,0 2,590, 14,499,0 15.1+14.7
New York _
11,572,3 46,578,0 4,632,0
199,0 3,537, 31,709.0 16.2+10.0
Franklin
1,380,8 10,777,0 1,090,0
343,0 1,230,
9,034,0 15.8+11.8
Lincoln
650,1 10,801,0 1,319,0
225,0 1,196, 10,262, 15.0+10.4
Metropolitan _ _ 6,122,3 26,593,0 2,890,0
14,0 2,745, 19,136,0 15.1+12.5
Broadway
554,3 8,238,0
924,0
383,0 1,194,
8,232,0 16.8+12.6
Totals, Avge__ 91,045,5 621,355,0 59,614,0 7,602,0 56,416,0 441,264,0 15.2+11.3
Actual figures Mch. 23 618,940,0 63,409,0 7,601,0
58,248,0J442,636,0 16.0+11.6
The capital of the trust companies is as follows: Manhattan,$1,000,000, Brooklyr,
,
$1,000.000; Bankers, $5,000,000; United States Mortgage dr Trust, $2,000,000,
Astor, $1,250,000; Title Guarantee & Trust, $9,375,000; Guaranty, $5.000,000,
Fidelity, 81,000.000; Lawyers' Title Insurance & Trust, $4,000,000; Columbia
$1,000,000; Standard, $1,000,000; People's, $1,000,000; New York, $3,000,000
Franklin, $1,000,000; Lincoln, 21,000,000; Metropolitan, $2,000,000; Broadway,
$1,000,000; total, $35,625,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Week
Capital. Surplus.
ending
March 23
Loans.
Specie.
On Dep.
Legal with CR.
Net
Tenders. Banks. Deposits.
Averages.
$
$
$
$
6
$
$
Banks
135,150,0 199,829,9 1.421.751,1298.206,0 77.746,0
1,454,546,0
Trust cos. 35,625,0 91,045,5 621,355,1 59,614,0 7,602,0 56,416,0 441,264,0
Total_ _ _ 170,775,0 290,875,4 2,043,106,0357,820,0 85,348,0 56,416,0 1,895,810,0
Actual.
Banks
' 1,423,816,0 293,315,0 77,301,1
1,452,042,0
Trust cos_
618,940,0 63,409,0 7,601,0 58.248,0 442,536,0
Total_
2,042.756,0356,724,0 84,902,0 58,248,1 1,894,578,0
The State Banking Department also furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
For definitions and rules under which the various items
are made up, see "Chronicle," V. 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
Week ended March 23.
State Banks
Trust Cos.
Slate Banlcs
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. F. Greater N. Y.
Capital as of Dec. 21_ _..
$
22,665,100
$
61,956,000
$
9,402,900
9,525,000
Surplus as of Dec. 21....
38,842,200
176,850,100
11,874,943
11,826,516
288,140,700 1,155,283,600
-1,724,800 +4,709,200
104,662,600
-400,600
161,483,800
+474,400
Loans and investments__
Change from last week_
Specie
Change from last week.
51,383,900
-848,200
118,381,600
+283,800
Legal tenders dc bk. notes
Change from last week_
23,285,800
+120,600
12,040,500
+7,600
Deposits
Change from last week.
Reserve on deposits ___ _ _
Change from last week_
P. it. reserve to deposits
Percentage last week
ir......
343,037,000 1,276,503,000
-2,245,700
-260,200
.
111,336,600
-589,900
170,095,500
+225,700
97,011,300
-570,400
139,853,300
+562,000
22,453,400
-347,000
24,774,500
-326,400
29.1%
29.4%
16.7%
16.8%
21.4%
21.6%
15.6%
15.8%
+ Increase over last week. -Decrease tram last week.
Note -Surplus" includes all undivided profits. "Reserve on deposits" includes
for both trust companies and State banks, not only cash items but amounts due
from reserve agents. Trust companies in New York State are required by law to
keep a reserve proportionate to their deposits, the ratio varying according to location as shown below. The percentage of reserve required Is computed on the
aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposlts not payable within thirty days,
represented by certificates, and also exclusive of'deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations of the State or City
of New York owned by the bank or held in trust for it by any public department.
The State banks are likewise required to keep a reserve varying according to location, the reserve being computed on the whole amount of deposits exclusive of time
deposits not payable within thirty days, represented by certificates (according
to the amendment of 1910) and exclusive of deposits secured (according to amendment of 1911) by bonds or obligations of the City or State of New York, and exclusive of an amount equal to the market value (not exceeding par) of bonds or
obligations of the State or City of New York owned by the company or held in trust
for it by any public department.
-Trust Cos.-Stale BanksReserve Required for Trust Companies
Total
Of
Total
Of
and State Banks.
which
Reserve
which Reserve
L
Required. in Cash. Required. in Cash.
Manhattan Borough
15%
15%
25%
15%
Brooklyn Borough (without branches in Manhat.) 15%
20%
10%
10%
Other Boroughs (without branches in Manhattan) 15%
7
10%
15%
Brooklyn Borough, with branches in Manhattan 15%
20%
20%
15%
Other Boroughs, with branches in Manhattan _ _15%
15%
15%
15%
State
Elsewhere in
...10%
5%
15%
6%
The Banking Department also undertakes to present separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
Haulm. These figures are shown in the table below, as are
also the results (both actual and average) for the Cleating-
893
THE CHRONICLE
MAR. 30 1912.1
Boston and Philadelphia'Clearing-House Members.-BeHouse banks and trust companies. In addition, we have
combined each corresponding item in the two statements, low is a summary of the weekly totals of the Clearing-House
thus affording an aggregate for the whole of the banks and institutions of Boston and Philadelphia:
trust companies in the Greater New York.
We omit two ciphers (00) in a/1 these figures.
NEW YORK CITY BANKS AND,TRUST COMPANIES.
Clear:House Clear.-House State Banks & Total cf all
Members. Trust Cos. not Banks &Trust
Week ended March 23 Members.
Average. In C.-H. Aver. Cos. Average.
ActualFigures
1Nat. Banks)
Capital iFeb. 20 andi
State Banks
Dec. 21
Surplus
170,775,000
170,775,000
34,652,000
205,427,000
290,875,400
290,875,400
93,130,300
384,005,700
Loans and investments 2,042,756,000 2,043,106,000
I Change from last week -1,020,000 -4,838,000
606,023,800 2,649,129,800
+3,172,200 -1,665,800
1,894,578,000 1,895,810,000
Deposits
Change from last week -1,372,000 -7,274,000
356,724,000 357,820,000
Specie
Change from last week -4,414,000 -3,931,000
a614,415,600 2,510,225,600
+5,750,600 -1,523,400
'Legal-tenders
Change from last week
RUI
Banks: cash in vault
Ratio to deposits....
64,224,400
+524,200
422,044,400
-3,406,800
Capital
Loans.
and
Surplus.
Banks.
Boston.
Feb. 3
Feb. 10
Feb. 17
Feb. 24
Mch. 2
Mch. 9
Mch.16
Alch.23
Philadelphia.
Feb. 3
Feb. 10
Feb. 17
Feb. 24
hIch. 2
Mch. 9
Mch.16
Mch.23_
Specie. Legals. Deposits. Circu- Clearings
lotion.
a
7,913,0 206,851,6
7,926,0 166,816,0
7,910,0 171,394,0
7,859,0 145.599,6
7,891,0 214,401,4
7,907,0 165,875,5
7,923,0 174,819,2
7,921,0 173,251,1
41,575,0 230,296,0 30,778,0 4,131,0 294,214,0
41,575,0 232,768,0 29,410,0 3,842,0 281,582,0
41,575,0 233,178,0 27.099,0 4,343,0 284,320,0
41,575,0 231,160,0 26,262,0 4,176,0 279,028,0
41,575,0 227,561,0 25,297,0 4,063,0 275,067,0
41,575,0 224,429,0 24,385,0 4,145,0 266,625,0
41,575,0 226,444,0 23,852,0 3,987,0 270,195,0
41,575,0 229,680,0 23,785,0 3,986,0 275,858,0
424,523,0 15,408,0 170,130.9
421,047,0 15,400,0 146,303.6
427,493,0 15,488,0 137,499 5
923,857,0 15,377,0 123,819,5
427,256,0 15,407,0 153,858,5
429,044,0 15,195,0 160,965,8
428,109,0 15,149,0 163,547,2
427,350,0 15,130,0 154,190,8
106,911,0
102,404,0
102,315,0
100,407,0
103,057,0
103,691,0
102,295,0
101,852,0
80,623,2 378.436,0
80,623,2 379,907,0
80,623,2 382,207,0
80,623,2 382,191,0
80,623,2 382,674,0
80,623,2 386,493,0
80,623,2 383,887,0
80,623,2 385,248,0
84,902,000
-835,000
85,348,000
-497,000
U10,864,500
-4,800
96,212,500
-501,800
370,616,000
25.52%
375,952,000
25.84%
11,864,700
13.56%
387,816,700
a Includes Government deposits and the item "due to other banks." At Boston
Government deposits amounted to 82,342,000 on March 23, against 82,687,000
on March 16.
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Mch. 23; also
totals since the beginning of the first week in January.
Trust Cos.:cash in vault
71,010,000
67,216,000
63,224,200
130,440,200
Aggr'te money holdings
Change from last week
441,626,000
-5,249,000
443,168,000
-4,428,000
75,088,900
+519,400
518,256,900
-3,908,600
Money on deposit with
other bks. & trust cos.
Change from last week
58,298,000
-2,734,000
56,416,000
-3,817,000
20,901,300
+271,200
77,317,300
-3,545,800
Total reserve
Change from last week
499,874,000
-7,983,000
499,584,000
-8,245,000
95,990,200
+790,600
595,574,200
-7,454,400
Surplus CASH reserve
Banks (above 25%)- Trust cos. (above 15%)
7,605,500
4,629,600
12,315,500
1,026,400
Total
Change from last week
12,235,100
-9,750,800
13,341,900
--2,297,900
% of cash reserves of tr ust cos.16.04%
Cash in vault
11.63%
Cash on dep. with bks.
15.23%
11.33%
15.35%
1.27%
27.67%
20.56%
16.62%
FOREIGN IMPORTS AT NEW YORK.
Dry Goods
General Merchandise ___
53.130,939
20,794,376
1909.
1910.
$2,830,472
14,288,207
$3,271,554
16,326,371
$3,665,976
13,355,075
$23,925,315 $17,118,679 $19,597,925 $17,021,051
Total
Since Jan. 1.
Dry Goods
General Merchandise
$37,901,630 839,358,587 $44,476,426 $44,794,889
195,828,424 186,148,248 194,767,905 159,854,800
$233,730,054 $205,506,835 $239,244,331 8204,649,689
Total 12 weeks
Total
1911.
1912.
For Week.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Mch. 23 and from Jan. 1 to date:
11-1- Increase over last week.
-Decrease forn last week.
a These are the deposits after eliminating the item "Due from reserve aepositories
in New York City"; with this item included,
companies
trust
and
and other banks
deposits amounted to $705,968,700, an increase of $4,117,500 over last week. In
the case of the Clearing-House members, the deposits are "legal net deposits" both
for the average and the actual figures. b Includes bank notes.
EXPORTS FROM NEW YORK.
1911.
1912.
1910.
1909.
$15,907,404 $16,410,490 $16,036,487 $12.526,569
183,656,099 168,500,593 135,987,060 137,119,267
For the week
Previously reported
$199,563,503 8184,911,083 $152,024,447 $149,615,836
Total 12 weeks
The averages of the New York City Clearing-House banks
and trust companies, combined with those for the State banks
The following table shows the exports and imports of
and trust companies in Greater New York outside of the
Clearing House, compare as follows for a series of weeks past: specie at the port of New York for the week ending Mch. 23
and since Jan. 1 1912, and for the corresponding periods in
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
1911 and 1910:
GREATER NEW YORK.
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
We omit two ciphers in all these figures.
Imports.
Exports.
Week
Ended.
Loans and
investments.
Jan. 20..
Jan. 27..
Feb. 3..
Feb. 10..
Feb. 17
Feb. 21..
Mch. 2..
Mch. 9_
Bich. 16
Mch. 23..
Deposits.
2,557,285,9
2,570,217,2
2,586,925,1
2,607,204,4
2,626,743,3
2,632,117,7
2,626,630,2
2,645,472,7
2,650,795,6
2,649,129,8
2.456,409,0
2,475,673,5
2.488,372.8
2,497,993,9
2,506,444,9
2,510,486,5
2,503,391,2
2,512,212,1
2,511,749,0
2,510,225,6
Specie.
Legals.
434,904,4 103,276,0
03,680,5 102,917,7
4,
99,921.0
454,180,5
98,317.6
451,204,5
97,569,6
445,282,4
96,941,0
439,851,0
97,254,2
434,068,6
95,718,0
432,182,7
96,714,3
425,451,2
96,212,5
422,044,4
Tot, Money Entire Res.
Holdings. on Deposit.
538,180,4
551,098,2
554,101.5
549,522,1
542,852,0
536,792,0
531,322,8
527,900,7
522,165,5
518,256,9
643,176,8
652,940,6
653.852,1
845,004,1
626,814,9
619,721,2
613,273,3
612,402,9
603,028,6
595,574,2
Reports of Clearing Non-Member Banks.-The following is
the statement of condition of the clearing non-member banks
for the week ending Mch. 23, based on average daily results:
We omit two ciphers (00)in all these figures.
Banks.
Cap1gal.
Surplus.
On
Legal
Loans,
Tender Deposit
Disc'ts
Net
with
Specie. and
and
Bank C.-H. Deposits.
InvestNotes. Banks.
ments.
--
New York City.
Man.hattan & Bronx.
118,0
31,0
322,8 2,231,0 509,0
300,0
Aetna National
77,0
224,0
307,7 1,406,0 143,0
100,0
Washington Heights
65,0
241,0
107,9 1,337,0 352,0
200,0
Battery Park
768,0
51,0 811,0
514,7 5,471,0
500,0
Century
931,0
900,0
Colonial
477,6 6,425,0 636,0 401,0
300,0
817,6 6,748,0 623,0 563,0
577,0
Columbia
200,0
167,4 1,074,0
184,0
51,0 113,0
Fidelity
123,0 1,198,0 343,0
74,0
18,0
Gotham National.... 200,0
250,0
345,3 2,594,0 451,0
45,0
389,0
Mount Morris
200,0
400,8 3,770,0 428,0 298,0
781,0
Mutual.
200,0
280,0 2,822,0 304,0 101,0
205,0
New Netherland
200,0
100,4 1,853,0 246,0
275,0
99,0
Twenty-third Ward
100,0
531,9 4,110,0
659,0
58,0 755,0
Yorkville
Brooklyn.
200,0
515,7 3,120,0 403,0 132 0
377,7
Broadway
300,0
664,8 3,559,0 311,0
402,0
72,0
First National
877,0 5,635,0 562,0 175,0
252,0
855,0
Manufacturers' Nat
898,2 11,106,0 277,0 1,758,0 1,610,0
1,000,0
Mechanics
578,2 3,683,0 492,0 114,0
300,0
873,0
National City.
168,7 2,110,0 196,0 100,0
200,0
349,0
NorthSide
Jersey City.
400,0 1,317,8 4,873,0 288,0 450,0 3,216,0
First National
788,9 3,674,0 299,0
250,0
563,0
80,0
Hudson Co. Nat
419,1 1,932,0 121,0 136,0
443,0
200,0
Third National
lloboken.
633,3 3,714%0 175,0
60,0
329,0
220,0
First National
272,3 3,189,0 188,0
49,0
234,0
125,0
Second National.
1
Totals March 23_ 6,597,0 11,661,1 87,634,0 7,507,0 6,503,0 14,677,0
Totals March 16... 6,597,0 11,661,1 87,488,0 7,734,0 6,574,0 14,153,0
Totals March 9... 6,347,0 11,257,9 86,776,0 7,612,0 6,498,0 16,108,0
.1
S
2,183,0
1,163,0
1,599,0
5,329,0
6,556,0
7,426,0
1,012,0
1,263,0
2,897,0
4,077,0
2,654,0
2,066,0
4,615,0
3,063.0
2,699,0
5,103,0
13,081,0
3,689,0
2,126,0
4,080,0
2,504,0
1,616,0
1,547,0
1,455,0
Gold.
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Since Jan 1
Week.
312,030,487
$10,057
$424,563
$25,200
550,400
1,650,000
6,872,304
17,375
169
407,249
79,015
15,099
68,401
3,687,939
666,964
417,630
$511,589 $5,265,497
499,060 2,658,895
104,036 2,963,014
$1,675,200 $19,470,566
3.200 1,226,595
1,002,000 7,438,318
Total 1912
Total 1911
Total 1910
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$978,330 $9,628,622
1,907,400
1,110
$63
311
172,594
45,933
4,852
13,648
8,786
304,370
$1,516
2,802
15,335
8,695
1,417,291
876,578
286,829
$223,753 $2,609,046
149,317 1,688,517
904,993
72,859
$979,440 $11,862,826
1,076,538 11,375,915
989,656 10,280,217
Total 1912
Total 1911
Total 1910
Since Jan.1
Of the above imports for the week in 1912, $
American gold coin and $159 American silver coin.
were
Paulting and Financial.
Railroad and Industrial Stocks
Write for our Circular No. 814, entitled "Railroad and Industrial
Stocks," which describes 128 Issues listed on the New York Stock
Exchange. and classified by us as follows: Investment Stocks, SemiInvestment Stocks. Speculative Stocks.
Spencer Trask & Co.
43 EXCHANGE PLACE-NEW YORK.
Chicago, ill. Boston, Mass. Albany, N. Y.
Members New York Stock Exchange.
White, Weld & Co.
Bonds and Investment Securities
83,803,0
83,661,0
82,952,0
5 NASSAU STREET.
NEW YORK
THE ROOKERY,
CHICAGO
894
THE CHRONICLE
Vankere
azette,
The market for railway and industrial bonds has been uniformly more active than of late, and fluctuations irregular.
United States Bonds.-Sales of Government bonds at the
Wall Street, Friday Night, March 29 1912.
at 1149, $1,000 35, reg.,
The Money Market and Financial Situation.-The most Board include $2,000 4s,
3s at 102g to 1023 and $5,000
conspicuous feature of the security markets this week has at 1023, $26,000 Panamacoup.,
been the largely increased activity, especially in the shares 3s, coup., at 1033g.
department. The volume of business on Monday, amountInterest Mch. Mch, Mch. Mch. Mch. Mch.
ing to 1,119,767 shares, exceeded that of any day since early
Periods
23
25
26
27
28
29
in November, when the final decision in the American To- 2s,
1930
registered Q-Jan *100% *100% *100% *100% 4,10034 *100%
bacco case caused a sharp demand for all classes of stocks. 2s, 1930
coupon Q-Jan *100% *100% *100% *100% *mu *100%
registered Q-Feb *102% *102% 4.102% 10235 *102% *102%
The upward movement of prices which has been in progress 3s, 1908-18
3s, 1908-18
coupon Q-Feb
for several weeks past has continued, although in a modified 48,
103%
1925
registered Q-Feb *114 *114 *114 *114 *114 *114
48, 1925
degree, and with more or less irregularity.
coupon Q-Feb *114 *114
114% *114 *114 *114 41
28, 1936.Panama Canal regls Q-Feb g00% *100% *100% 4,100% *100% *100%
Other noteworthy events of the week include a sensational 3s,
1961_Panama Canal coup Q-M ch *102
102% *102% *102 *102
102%
advance, amounting in one case to nearly 400 points, in
* This Is the price bid at the morning board; no sale was made.
shares of some of the Standard Oil subsidiary companies,
the sale of $30,500,000 of bonds by the U. S. Steel CorporaRailroad and Miscellaneous Stocks.-As noted above, the
tion and reports that the British miners are returning to stock market has been by far the most active of the year.
work in large numbers. Thus the coal strike over there Price movements have again been irregular, but generally
seems to be nearing an end, and, on prospects of the latter, upward, and in some cases, especially in the industrial list,
the London security markets have been strong. The labor new high records have been made. There has been
situation in this country has not, however, improved. It is change in tone from day to day and fluctuations have little
been
reported that the anthracite miners will suspend operations over a wider range than usual. The market to-day has been
at the end of the week, and the Eastern group of railroads more irregular and less active than earlier in the week.
announce that, hampered as they are by Inter-State ComAmong the exceptional features Canadian Pacific was conmerce rulings, it is impossible for them to accede to the de- spicuous for an advance of 5 points to-day and of nearly
mands of locomotive engineers for an increase of wages.
7 within the week. It closes only g below the highest,
Comparatively favorable reports of railway earnings for which was 240. Lehigh Valley has covered a range of
February are explained, in some cases at least, by the fact 43 points, with a net loss of 1. Mo. Pac. sold 4 points higher
that there was one more day this year, and by the further than at the close last week, Inter-Met. and Reading 3:g
fact that the February reports last year were generally and Southern Pacific and Union Pacific nearly as much.
unfavorable.
Smelting & Refining has covered a range of
69i points,
The German money market is somewhat easier and a de- Am. Can preferred 6, Inter. Harvester 4, Bethlehem
Steel
cline of foreign exchange rates here seems to indicate that and other issues 3.
funds are being returned from that country to this, or that
For daily volume of business see page 904.
preparations for such a movement are being made.
The following sales have occurred this week of shares not
The open market rate for call loans on the Stock Exchange represented in our detailed list on the pages which
follow
during the week on stock and bond collaterals has ranged
STOCKS.
from 24 to 3%. To-day's rates on call were 2
Sales
Range for Week.
Range
Since
Jan, 1.
@3%. Week ending March 29 for
Commercial paper quoted at 4@4)4% for 60 to 90-day
en$$$
Week. Lowest.
Highest.
Lowest.
Highest.
dorsements and for prime 4 to 6 months' single names and
American Snuff
100 126 Mch 27 126 Mch 27 123
Mch 144% Jan
5% for good single names.
Preferred, new..
200 100 Mch 25101% Mch 29 99Ne Feb 101% Mch
The Bank of England weekly statement on Thursday Assets Realization _ _ _ le00 111
14 Mch 23 113 Mch 27 105% Feb 113 8 Mch
Assoc
Merchants,
102% Mch 28103Apich 26 102% Mch 103
showed a decrease in bullion of £62,731 and the percentage of Batopilas Mining 1st jaf_ '71200
Mch
$% Mch 23 $134 Mch 27 374
$174 Jan
reserve to liabilities was 43.30, against 43.13 last week. Brunswick Terminal__ ‘..,1,600
100 834 Mch 23 834 Mch 23 8 11 Mch
Jan 9% Feb
Rochester
Buff
&
Pitts!).
.e. 100 105 Mch 28 105 bleb 28 105 Jan 105 Jan
The rate of discount remains unchanged at 3)4%, as fixed Can Pee subs, 1st paid t
300
Mai 29 33 Bich 20 22234 Feb 233
Mch
Feb. 8. The Bank of France shows an increase of 3,750,000 Cent & So Amer Teleg_. 1127 33
119%lich29‘ 119%Mch29 115% Jan 122%
Comstock
1
Tunnel
600 12c. Bich 28 115c.IJ1Mch 23 12c. Mch 18c. Mch
francs gold and 5,325,000 francs silver.
Feb
Cuban-Amer Sugar, pref Ifi 200 95 Mch 25 951 Mch 25 94% Mch 96
Jan
Gen Chemical, pref
NEW YORK CITY CLEARING-HOUSE BANKS.
71 '65 ling bleb 29 08 [Bich 26 10634 Mch 111
Feb
Preferred rights
G W Helme
Homestake Mining
New York Dock
1912.
•
1911.
1910.
NY & Harlem
Averages for
Difference-s
Averages for Averages for
week ending
Nor Ohio 'frac & Lt.__
from
week ending week ending
March 23.
previous week.
Ontario Silver Mining_ _ _
March 25.
March 26.
Peoria & Eastern
Phelps, Dodge & Co__
135,150,000
Capital
132,350,000 128,350,000 Philadelphia Co
Surplus
199,829,900
201,782,500 182,627,500 Quicksilver Mining, pref.
Loans and discounts.... 1,421,751,000 Dec. 5,641,000 1,352,120,400 1,241,813,300 St L &8 F-C &E 111
Circulation
50,633,000 Dec.
new stock trust cents_
431,000
46,518,900
48,299,800
Net deposits..
1,454,546,000 Dec. 10,390,000 1,391,715,700 1,243,087,200 Standard
Specie
298,206,000 Dec. 3,559,000 304,883,900 260,678,000
Preferred
Milling_ __._
Legal-tenders
77,746,000 Dec.
475,000
74,095,000
64,336,500 Texas Company (The)...
Twin City R T, pref____
Reserve held
375,952,000 Dec. T4,034,000 378,978,900 • 325,014,500 Union Bag & Paper__ __
25% of deposits
Preferred
.'1 2,597,500 347,928,925 310,771,800
363,636,500 Dec,
United Dry Goods
Surplus reserve__
Preferred
12,315,500 Dec. 1,438,500
31,049,975
14,242,700
US Indus Alcohol
Preferred
...
Note.-The Clearing House now issues a statement weekly showing the actual U S Realty & Impt
condition of the banks on Saturday morning as well as the above averages. These Virginia'Iron C & C
figures, together with the returns of the separate banks and trust companies, also Vulcan Detinning
the summary issued by the State Banking Department, giving the condition of State
Preferred
banks and trust companies not reporting to the Clearing House, appear on the second Weyman-Bruton
page preceding.
Not Including Trust Companies.)
1,000
% Mch 28
34 Mch 28
%
200 165 Mch 26165111 Mch 26 155 I
150 91 Mch 25 91 Mch 25 86%
200 2034 Mch 27 2054 Mch 27 20
100455 Mch 28155 Mch 28 35054
600 59 Mch 25 62% lich 28 56
300 1% Mch 26 2% Mch 26 1
500 14 Mch 28 14% Mch 28 14
20212 Mch 25+12 Mch 25 212
2,400108% Mch 28109% Mch 23 104
200 4 Bich 29 44 Mch 27 334
Bich 21.32 Feb
Feb 17I %;13ich
Mch 91% ,Mch
Jan 23
Jan
Jan 355
Mob
Bich 62% Mch
Feb 2% Mch
Mch 14% Mch
Mch 212
Mch
Jan 111% Feb
Feb 5
Mch
15 56 Mch 25 56 Mch 25 53
500 2034 Bich 23 21 Mch 25 16%
225 6034 Mch 27 6134 Mch 27 53
200 94 Mch 23 94 Mch 28 81
50141% Mch 26141% NIch 25 141%
3,300 6% Mch 23 7% Mch 27 45%
100 5454 bich 25 5454 Mch 25 49%
450 100 Mch 26 101 Mch 28 97
375104% Bich 23 104% Bich 27 103%
565 32 Bich 29 35 Mch 23 26
721101% Mch 25 102% Mch 23 95
7,100 71% Mch 23 7734 Mch 28 67
400 62 Bleb 25 64 Mch 23 54
400 24 Mch 25 24% Mch 25 15
510 83% MO 25 85 Mch 25 70
200 100 Alch 27 190% Mch 29 170
Feb 57
Jan 2134
Jan 61%
Jan 99%
/itch 145
Jan 7%
Feb 5434
Feb 101
Feb 106
Jan 35
Jan 102%
Jan 7734
Mch 90
Jan 27%
Jan 85
Jan 190%
Feb
Bich
Mob
Feb
Jan
Bich
Mch
Bich
Jan
Mch
Mcb
Mch
Jan
Feb
Mob
Bich
Foreign Exchange.-The market for the week has been
Outside Market.-Following a strong and active opening
dull, with an easier tendency throughout.
the"curb" market turned reactionary,though losses as a rule
To-day's (Friday's) nominal rates for sterling exchange were 4 85 for
60 days and 4 88 for sight. To-day's actual rates for sterling exchange were were small. A fairly firm undertone prevailed. Standard
8395@4 8405 for 60 days, 4 8685@4 8690 for cheques and 4 8735@4 8740 Oil stocks were quiet in the "curb" market
except for sensafor cables. Commercial on banks 4 82 %@4 83% and documents
for pay- tional fluctuations in Standard Oil of Kentucky
ment 4 83%@4 84 %. Cotton for payment 4 83 34@4 83% and grain
stock, which
for
payment 4 84@4 84 %.
caused some excitement, though few shares were reported
The posted rates for sterling, as quoted by a representative house, were
sold. The price soared over 500 points to 1,000, at which
not changed during the week from 4 85 for 60 days and 4 88 for sight.
To-day's (Friday's) actual rates for Paris bankers' francs were 5 20% less figure, it is stated, 2 shares were sold. After this it fell back
1-32@20% for long and 5 18% less 1-64@5 18% for short. Germany
bankers' marks were 94 9-16@ 94% for long and 95%s95 3-16 less 1-32 to 600. Anglo-Amer. Oil weakened from 139 to 12, then
for short. Amst,sdam bankers' guilders were 40 5-16 less 3-321340 5-16 sold up to 14 and to-day to 15. The close was at 14g. A
less 1-16 for short.
dividend of 2 shillings per share was announced to-day.
Exchange at Pens on London, 25f. 23%o.; week's range, 25f. 260. high
and 25f. 230. low. Exchange at Berlin on London, 20m. 46pf.; week's Standard Oil of N. J. moved up from 358 to 363 and ends the
range. 20m. 46 %pf. high and 20m. 44 %pf. low.
week at 360. The subsidiaries "en bloc" gained 10 points to
The range for foreign exchange for the week follows:
495, sank to 470 and moved upward again, resting at 485
Sterling, ActualSixty Days.
Cheques,
Cables.
High for the week__ _4 8425
4 8775
4 8730
finally. British-Amer. Tobacco lost 13 points to 21, reLow for the week__ _4 8395
4 8735
4 8685
covered to 213
4 and closed to-day at 21%. United Cigar
Paris Bankers' FrancsHigh for the week__ _5 20%
5 18 34
Stores moved up 4 points to 194 but receded to 188. Inter5 17%
Low for the week__ _ 5 20% less 1-16 5 18% less 1-16 5 17% less 5-64
continental Rubber corn. advanced from 17% to 20 and reGermany Bankers' MarksHigh for the week__. 94%
acted to 1834. Lehigh Valley Coal Sales were heavily traded
95% less 1-32
95 7-16
Low for the week__ 94 9-16
95%
955-16 less 1-32 in up from 224 to 240 and down to 234. The close to
Amsterdam Bankers' Guilders-day
High for the week__ 40%
was at 235. Studebaker Corp. corn. moved up from 39% to
40 5-16 less 1-16 40% less 1-16
Low for the week__ 40 % less 1-16
40% plus 1-32
40 5-16 plus 1-32 41 and receded subsequently to 403'. Bonds were
neglected.
Domestic Exchange.-Chicago, 150. per $1,000 premium. Boston, 200
per $1,000 discount. St. Louis, 100. per $1,000 premium bid and 150, Western Pacific 5s advanced from 873/i to 89 and reacted finally
asked. New Orleans, commercial, 250. per $1,000 discount and bank,
to 88. N. Y. City 43s weakened from 102 to 101%. City
$1 premium. San Francisco, 40c. per $1,000 premium. Savannah, buy3 to 94%. Copper
ing, 3-16% discount and selling par. St. Paul, 450. per $1,000 premium. of Tokyo 5s were traded in up from 94%
Montreal, 46%c. premium. Charleston, buying, par; selling,
stocks
Were
strong.
from
4 9-16 to 5% and
Giroux
sold
up
1-10%
premium.
closed to-day at 5%. Greene Cananea was a feature adState and Railroad Bonds.-Sales of State bonds at the vancing from 8% to 9%. Inspiration Cons.
Copper imBoard include $36,000 New York Canal 4s, 1961, at 102% to proved from 189 to
203 and reacted to 19k.
1023,and $20,000 Virginia 6s deferred trust receipts at 493.
Outside quotations will be found on page 904.
Yearly
New York Stock Exchange-Stock Record, Daily, Weekly and
For record
OCCUPYING TWO PAGES
week of stocks usually inactive, see preceding page.
of sales during the
Satet
PRICES.
STOCKS-HIGHEST AND LOWEST SALE
the
Week
Friday
Thursday
Wednesday
Tuesday
Monday
Shares.
29.
March
28.
March
March 25. March 28. March 27.
STOCKS
NEW YORK STOCK
EXCHANGE
Mr43.
Range since January 1.
On basis 01 100-share lots.
Lowest.
Highest.
Range for Previous
Year 1911.
Lowest.
Highest.
Railroads
10314 Feb 1 10938 Mch 29 997R Sep 1108 J'ne
10818 10878 10834 10938 89,100 A toil Topeka & Santa Fe 10138 Jan 2 10114 Feb 10 10034 Jan 10512 J'ne
10818 109
10773 10812 10838 10834 10818 109
10318 10338 10338 10338 1,540 1-1,.. Do pre
10312
10312
8
5
103
10338
13318 Jan 10 13912 Mch 27 117 Jan 13914 Nov
8
1033
*10314 10358 10333
Coast
tiroro
13912 139 13938 13914 13914 2,600 tlasinticoCoal
0312 Sep 10934 J'ly
510114 Feb 1 10678 Jan 20
13812 13812 139 13914 139 13914 139 10638
Ohio
91 Jan
10534 10638 10618 10678 21,220
851'2 Aug
106
88 Feb 20 91 Jan 23
Ls
Do
prof
10512 10534 10534 10638 10573 10612
300
8818 8818
8834
*88
89
72 Sep
*88
8 J.IY
84,
9
2
Mch
89
8438
2
*88
Jan
8818
7634
8818
aok
alyinRap
Hrio
palofio
'
89
Rapid
ioaoo
lransit_
*88
40,435
8458
84
8412
8338
J'ir
247
8418
8314
19533Jan
Mch29
5312
22612 /Rich 4 240
8258 8318 8253
8238 83
27,295
234 23412 231 23514 23718 240
Feb 7 260 Aug 320 Dec
380
9
Jan
305
t
e
_
o
k
'
e
k
a
e
p
a
s
e
h
C
oh
rsey
o
ie
/rwJ
23314 23373 23314 23334 23312 23414
213
Feb
365 385 *355 370
8634
Sep
375
6838
*355
23
375
Mch
4
3
78
1
*358
Feb
375
6814
*355 375 *355
7712 25,550
3118 May
15 Aug
7834 7714 7814 7738 7838 7718 7778 7714 21
17 Jan 25 2212 Mch 25
ago
er Alton RR
ords
100 Chicago
7814 7834 78
*22
*2212 24
53 Jan
24
37 Oct
*22
24
5 35 Jan 15
Jan
35
2212 2212 *22
*2112 24
6612
6612 *35
2514 J'ne
6612 *35
17 Sep
0012 *35
6612 *35
1712 Jan 29 1934 13ch23
65 *35
*35
1912 2,900 Chic Gt West trust ctfs
19
1914 *1812 19
9914 Feb
3512 Dec
1912 19
35 Jan 31 33 Alch23
Do prof trust ct.fs
1914 1934 1934 1934 1912 3712
37
3714 3712 1,900
3712 37
37
3712
Jan 3 10534 Oct 13312 Feb
11138
5
38
Feb
3712
$10313
do
Paul
Arilw
St
Chicago
27,310
3712 38
10834 10934 109 11018 10938 11018 10933 110
144 Jan 12 146 Jan 2 141 Sep 15512 Feb
Do prof
10914 11014 10934 11034 145
910
14473 14473
13818 Sep 1501: J'ne
195 14514 145 145
145
14512 14512 145 145
Chicago as North Western $19014 Mch 1 143 Jan 2 191 Nov 4200 Jan
14214 14238 14212 14234 11212 14212 11234 14234 2,850
104 Feb 29 198 Mch 26
Do
pre!
14212 14212 142 143
100
19678
*194
199
*195
Apr 144 J'ne
200
13018
*194
198
198
30
Jan
200
144
25
135 Mch
*190 200 *196
550 Chic St P Minn & Omaha 155
Jan 30 4156 Feb 6 147 Nov 4160 Mch
135 137 *136 140 *136 140 *135 140 *130 140
Do pref
*133 138
338 Fel)
158 Sep
160 *150 160 *150 IGO *150 160
*150
2
Jan
160
2
Feb
1
*150
118
stmpd
ctfs
Trao
Un
100
Chic
*150
950
112
114
134 2
714 Feb
434 Sep
112 112 *114 134
*112 134
518 Jan 16
4 Mch 21
Da pref offs stmpd
*114 134 *418 5
66 Jan
414 5
518 518 1,000
4818 Sep
*414 5
*414 5
5412 Mcla 28 60 Jan 2
L
St
&
Chic
Cin
Cleve
*418 5
200
98 Feb
58
5412 5412 *54
56
50
58
9414 J'ly
*56
58
Feb 24 9712 11ch27
49578
*56
58
*53
Do
pre
100
60 Jan
*9712 100
43 Sep
*91 100
9712 9712 *9712 100
42 Mch 15 45 Feb 2
*91 100
*91 100
100 Colorado & Southern
*44
45
82 J'ne
*44
44
4512
*43
44
45
46
7412 Mch 28 7678 Jan 19 z70 Sep
45 *44
*43
Do 1st preferred
715
7512 Melt
7412 7412 7412 7412
75
75 *74
68 Mch 1 70 Jan 31 z63 Sep
77
7618 7612 x75
preferred
2d
*76
Do
15
72
J'ne
*66
70
*66
17478
Sep
70
15912
*05
66
72
6
10
Feb
17612
566
Jan
*68
167
72
*68
nelaware & Hudson
16912 17012 16934 16934 170 17012 3.940 -3540 Jan 16 509 Jan 29 505 Sep 570 Nov
West_
17014 17012 171 17112 17012 171
&
Lack
elaware
,
15
35 Feb
555 *54012 550
Dec
1738
24
2
Jan
8
195
_
7
2
h
c
M
Grande__
*545 504 5560 560 *545 564 *54012 555 *54012
Rio
3.634 Dec
74 Feb
2278 2314 2312 2312 1,900 Denver &
2314 2314 2378 24
40 Mch 15 4614 Jan 24
2212 2211 23
*22
Do pref
2,810
1553 Mch
9 Nov
4333 4412 4312 4413 *4312 0
812 Mch 4 1112 Mch29
4112 4112 *4112 4212 4212 43
1012 1014 1112 1,400 Duluth So Shore & Allan 16 Mch 8 21 Mch29
3018 Aida
1718 Dec
*10
1014 1014 *10
1012
1012
10
Do prof
934 934
525
38
21
38 J'ly
*20
2714
1934
Jan
4
21
203
16
*2018
2014
2014
Mch
38
2012
15
Jan
3014
2012
*1912 22
6114 Ply
4558 Jan
3014 2714 3634 3773 129,500 ErieDo 1st
ch 15
2 lmie
14
473
3 5
405018
3658 3078 3658 3712 3612 3714 3618 37
preferred
4934 J'ly
5658 16,550
Jan
35
8
557
5814
55
67
5618
56
Feb
5512
5512
4
653
5633
5618
Do td preterred--4612 401, 1,100
4612 *4434 46
4634 *4614 4612 *46
128 Jan 15 134.12 Mch 20 119 Sep 140 J'ne
*4578 4612 46
Northern prof
6334 Feb
3334 Dec
13318 13378 13.213 13312 133 13312 27,700 Great
36 Jan 31 44,8 Jan 2
13314 13358 13338 13412 13318 134
Iron Ore properties_
1514 Jan
4114 4318 38,025
44
42
11 Aug
4112
4134
41
42
41
4378
41
4134
yE
Wt
eb ctf-li 1078 Feb 27 1278 Mch29
asieo
.rdio
vaBay
Green
ff
1278
00
1212
1212
Oct
1212
98
J'ly
1258
9314
1212
12
1212
Mch29
12
1232
110 Mch29 110
12
12
100
110 110
9334 Jan 10258 Oct
*110 125
20 120 Mch16
Feb
110
*110 125
Do
preferred
1-3W - *____ 130
Apr
*::::
134
Nov
140
124
*____
140
*115
Mch22
127
Mch22
127
*115 140
Hooking Valley
____ *120
*120 ____ *120
*Ho12514 Meta 18 14118 Jan 23 132 Jan 147 J'ly
*120
4 1,900 Illinois Central
2038 Feb
13238 13112 13112 *13114 11211318 Sep
27
Men
3
2118
Jan
1638
13012 13012 131 13184 132 13212 13173
°ifs
t
v
trop
68,160 Interboro-Me
2014 21
21
5638 fly
2118 20
3934 Sep
5338 Jan 3 62 Meh 26
Do pref
1914 1834 1938 1918 2034 2014 62
19
5938 6138 6014 8114 74,340
5512 J'ly
6014
3912SeP
5234 Jan 11 5834 Mch 11
Do pref vol tr etts
5858 5914 5838 5914 5858 62
22 Sep
15 May
4
Jan
15
8
1012
Feb
Central
Iowa
13
42 Sep
;ii- "5- ;iii" -1213
;ii"
23
Apr
"5"
13
t
"
Jan
15
30
;ii
.Mch
24
"ff"
Do preferred
'
200
25
28
*24
2512
27
*24
80 Dec
*24
74 Apr
27
26
7734 Jan 4 81 Mch 21
26 *24
S
AI
Ft
&
tr
C
oths,pref
V
*24
300
79
79
*7912 81
80
3738 J'ne
2514 Sep
80
81
*79
81
25
Mch
9
Feb
2914
25
Southern
k
114
City
ansas
7912 7912 *79
28
28
273 2814 5,800
6934 J'ne
6112 Sep
82 Feb 1 6558 lich25
Do
preferred
2712 2834 2834 2914 2834 2814 2734 2838 6538 6538 *62 4 65
800
17 Nov
66
1@ Sep
6014 *64
1112 Jan 26 15 Mch27
6558 *64
65
Erie
69
Western
as
eke
r
64
900
16
*14
*1414 16
40 Jan
25 Sep
1478 15
15
30 Jan 8 36 Meh 27
1334 1378 *14
*1112 15
250 .4-4 Do preferred
37
*34
37
*34
Dec
36
18678
36
Sep
151
15
34
Jan
534
5
4
Feb
1853
8
1557
3314 3314
35
*32
ey
a
104 10578 75,100 Lehigh
63 Jan
45 Nov
4312 Feb /3 45 Alch25
16634 16734 16514 16634 18314 1664 163 16434 *44
Island
16812 167
100
50
48
*44
_
___48
14978 Feb 1 15758 Mch 27 13612 Sep 16034 Nov
*44
90
45
Nashville
48
*44
&
Louisville
15512 15612 15633 15612 6,800
135 Jan 2 13834 Isich13 13114 Sep 14212 Jan
15512 15714 15638 15712 15638 15012 15614 15'i58 *135
100 M anhattan Elevated_
4212 Sep
138 *135 137
2112 Apr
21 Mch 14 2712 Jan 23
130 130 *135 13733
*133 138 *135 136
1,453 itl-inneapolis & St Louis §40 Feb 26 §57 Jan 15
22
4 22
35 Melt 6812 Sep
223
22
23
23
23
*19
23
*19
22
2112
Do preferred
600
4514
4514
Sep
Mob
15214
512134
4514
21
4473
Mch
14012
3
45
Feb
45
50
129
*33
50
*35
50
*35
137 13812 3,800 Minn St P & S S Marie
13614 137
14714 Feb 1 152 Mch 15 146 Nov 160 Mch
136 13658 136 137
13512 136
*136 137
Do preferred
100
9012 Moh
8712 J'iy
150
*143
14934
*14312
17
Jan
150
12
18878
*143
Jan
150
§871
*14312
150
*14312
ctfs
Do leased line
150 150
3818 J'ne
*8612 89
27 Sep
*8012 89
*8612 89
2612 Feb 7 3158 Mch 29
*8612 89
*8612 89
*8612 89
70 Oct
6234 Sep
3073 3034 3158 12,100 Mo Kansas & Texas
3014 30
30
61 Feb 29 65 ,Tan 25
3014 2934 30
Do preferred
2912 3014 30
8512
100
63 Feb
6512 *64
*64
3314 Sep
66
*64
6414
Mch27
6518
6414
4734
24
Feb
*63
8
36
3
66
*8358
4012 94,210 Missouri Paelde
4558
4718
4512
J'ne
160
Jan
4734
14014
4614
4
Jan
4678
4558
4312 448 4414 47
'Mash Chatt & St Louis_ 165 Mch 1 160 Jan 4
7238 Jan
60 Aug
175 *163 168 *163 175
*162 168 *162 166 *163 168 *163
100 IA at Rya of Mex 1st pref 6412 Mch29 71
0412 0412
*6412 68
3838 Feb
257
*6412 60
8
Aug
20
*6412 66
Jan
3678
*6412 66
7
Mch
29
*6412 66
Do 2d preferred
1,900
30
3038 3038 3038 30
30
31
31
10614 Jan 9 114 Mch20 59978 Sep 11512 Feb
3012 3012 3034 31
N Y Central h Hudson
65 Jan
48 Sep
11314 11334 2112 11258 112 112/2 11214 11212 14,075 N Y Chic & St Louts
54 Feb 29 61 Jan 30
113 11338 113 119
100
*50
57
*5512 57
57
5612 *50
0812 Nov 10138 Itch
*50
56
56
57
10212 Mch26 103 5fch26
*54
Do 1st preferred
200
-__*103
90 Jan
-_-*103
103
10212
8212
Aug
103
87 Jan 27 90 Jan 18
*102 103 *102
Do 2d preferred
-FFS11-2 *83
*83
8012
89 *103.
*83
89
*80
87
*86
136 Feb 1 140 Mch 4 12078 Sep 15118 Feb
87
*86
2,313 NYNHdo Hartford
130 13938 13934 140
13934
4(178 J'ly
13912
Sep
140
13934
3734
13934
5fch22
8
1395
7
Mch
3912
3578
139
139
3878 3918 4,700 N Y Ontario & Western_
3918 3812 3918 3834 39
99.34 Sep 11114 Nov
:10784 Feb 1 11114 Feb 27
3912 39
3914 3912 39
22,900 Norfolk & Western
9114 J'ne
8534 Apr
110 11034 110 11058 110 11034 11033 111
17
92
Feb
4
Jan
pre
9012
Do
adjustment
10912 10912 1095s 110
92
*89
92
*88
92
*89
92
*88
92
11538 Jan 15 12358 Islets 25 11034 SeP 13778 rue
*89
92
Northern Pacific
*89
122 12338 12112 12234 12134 12234 51,830 Pacific Coast Co
9434 Dec 102 Jan
12218 12258 1221z 12358 12214 123
*90 100
*90 100
*90 100
*90 100
181
*90 100
Do
I.
preferred
*90 100
*85 105
105
*85
an
105
*85
9934 J'iy 102
105
*85
105
*85
Do 2d preferred
*85 105
*90 100
*90 100
*90 100
12212 Jan 9 12518 5fch25 11834 Sep 13018 Feb
*90 100
*90 100
*90 105
25,027 Pennsylvania
12373 124
12334 124
9018 Sep 100 Jan
Feb
10712
27
2
Jan
9312
L
St
&
Cin
Chic
12458 4434 12438 12518 12378 12412 12373 12138 1053
Pittsb
3,500
106 106
4 100
Feb
106 10018 105 10614
10812 Jan 2 117 Feb 20 10218 Sep 112 J."
Do preferred
*10518 106 *10512 106
150
117 *110 117
14818 Jan 11 16214 Mch27 134 Sep 16178
*115 11634 11612 11612 *110 117 *110 117 *110
15958 10112 16012 16134 706,960 a
92 J'ly
88 Meh
17
92
Jan
804
5
Mch
d
Re
Zpreferred
n
t
i
s
1
15814 15878 15914 16158 15934 10138 16038 16214
500
90
90
90
90
*8912 91.
9012 Sep 101 M11T
94 Jan 11 9834 Jan 20
*8912 0012 9018 9018 *5912 91
2d preferred
200
98
*95
98
*95
98
8438 J'ne
*95
2234 Sep
97
9712 *95
97
*9612 07
Company_ 2234 Feb 26 2818 Mch 25
2773 208 2712 2678 2712 52,470 Rook Island
6858 J'ne
4334 Dec
Mch
29
3
Jan
5534
48
2658 2778 2738 2818 2714 2734 27
Do preferred
5312 5438 6434. 5534 37,750
27 Oct
23 Dec
5478 5312 55
5234 5478 5434 5558 54
& San Fran __ . 23 Jan 5 2912 5fch26
Louis
Qt
1,200
28
28
2812
2712
2912
6914 J'ly
59 Sep
29
2914 2912 2912 *2812
6013
19
Jan
23
Jan
65
.
*2814 29
preferred._
Do
1st
UJ
1,820
69
4912 J'ly
3/ Sep
6044 6912 *0814 6914 *6734 6912 *68
70
3812 Feb 5 4314 bic1125
8734 6912 *69
Do 2d preferred
5,085
34 Feb
4212 4314 4214 4212 4158 4238 4158 4212 4134 42
14 Jan
2934 Jan- 22 3312 Mch 20
4138 43
3314 3312 2312 1,200 St Louis* Southwestern_
72 J'ne
5934 Jan
22
17
Mch
.an
75
6812
3314 3238 3212 3234 3234 3234 3234 33
*32
preferred
Do
1,800
7414 7414 7412 *7234 74
10512 k eb 1 11518 5fch29 10412 Sep 12638 J'ne
7412 7478 7412 7458 7414 7438 74
Southern Pacific Co
86,800
11518
1141
8
11414
11318
11334
11218
3338
J'ly
Sep
112
11258
2434
1194
78 11138
112 11234
2612 Jan 31 3038 Mch21
v tr Ws stmpd_
2958 3018 2953 3038 2934 3038 39,730 Southern
7514 J'ly
6114 Jan
2958 3014 2978 3014 2912 30
6814 Feb 3 7612 13ch28
do
Do prof
574
7478 8,762
7612
8
757
3014
Feb
8
763
76
Dec
76
4
3
75
1978
67
7534
29
2538
bieh
3
Jan
2012
7534 7534
Texas & Pacific
2312 2378 2378 2412 2418 2412 2412 2458 2412 2458 2412 2558 10,400 1.hird Ave tr etts full pd.. 39 Jan 17 153 Meh 1 h2114 Dec 92134 Dec
41 Dec
55
31 Nov
55 *51
9
Jan
*50
4934
7
Feb
_
3912
...
issued)
(when
New
42
6,700
41
4234 4058 41
4234
-41273 42
812 Jan
4 Nov
4 Jan 20
4158 43. 41
3 Jan 15
Toledo Railways & LC
4 *___. 312
3
4
4
*3
4
*3
*3
2434 Feb
12 Dec
1234 Mch 4 1638 5fch27
1514 1614 1614 1534 1638 1534 1534 1512 1512 1,950 Toledo St L & Western
15
5378
Jah
Dec
3478
2
7.172 148,1 3358
Jan
3478
5
Mch
32
prelerred
Do
34
3412 3334 3378 3312 3358 1,700
Sep 111 Feb
3413 3414 34
• 3314 33311
105 Twin City Rapid Transit_ 18412 Jan 5 10612 Feb 17 104
10512
10512 10512 1105 105 *105 10612 *105 100 *105 106 *105
1 17414 Jan 2 15312 Sep 19238 J'ly
Feb
160
Pacific
17214
317,950
17114
16973 17178
95 J'ty
59 Sep
16934 17058 17014 17112 16912 17034 16978 172
91 Mela 5 9338 Feb 27
9218 9178 92
9112 9134 9114 0134 2,400 t) Do preferred
92
92
49 Feb
9178 9218 92
2812 Sep
500 Unit fly's Inv't of San Fr 3034 Jan 5 3714 Feb 14
3312 3414 3334 3334
35
35
*34
*34
*34
35
35
7614 Mch
52 Sep
• *34
2 6512 Feb 14
Jan
58
preferred
Do
82
2,250
*6114
4
63
6234 62
62
6212 63
45 Apr
37
• 6334 6334 6312 633
29
Sep
Mch
40
4
Jan
41
&
Power
Hy
2,100 Virginia
49
4814 4814 48
47
47
4714 4738 4712 48
47
77 Sep 483 Apr
47
87 Jan 26 8812 Feb 15
Do preferred
1838 Feb
534 Dec
733 Feb 8
8 Jan 4
aba3h
718 718 _1,555
7
7
- -613 67 --834 • -74 714
-71;
4038 Feb
Fa
1414 Dec
1678 Jan 2 2014 Mch27
Do preferred
1912 2014 10,200
• 1818 1818 1818 1814 1838 .1812 1834 2014 1938 20
66 J'ly
4878 Apr
By__ 6534 Jan 9 6414 151ch25
Maryland
Western
63
7,567
63
631z
5312
6414
6212
6414
63
8814 J'ly
63
Jan
63
6312 64
75
9
8018-Mch20
75
Jan
preferred
Do
300
82
*78
82
80
*78
82
*78
*7912 82
80
82
*78
614 Feb
7
3 29
10
meb 13
v
8 Itch
14
212 Sep
8
1,750 Wheeling & Lake Erie- 141
8
714 712
814 814
1758 Feb
814 814
812 • 834
7 Sep
812
*8
Jan
Do 1st preferred
22
22
22
2114 2112 2012 2012 2,675
21
22
21
22
Feb
3 Aug
• *21
13
6
Jan
14
19
Mch
preferred
1112
2d
Do
1,100
1312 *1014 1112 *1012 1134 *11
1112 12 *10
7218 May
48 Sep
1112 111
48 Feb 5 5612 Mch 13
800 Wisconsin Central
5512 5512
55
5512 *50
5538 5512 5534 5534 *52
56
*55
U
Iv
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS.
Bid
Banks
New York 190
Aetna
America 11._ 1613
Amer leach_ 242
Battery Pk_ 125
Boweryl.,_ 400
Bronxilorol 300
Nat_ 175
Iryant Pk 11 150
Butch & Dr 130
Century I 5230
035
Chase
Ast
__ a_
-245
130
--180
155
140
......
____
Ask
Bid
Banks
Chat&PhenH 187
190
Ohetsea Exil 195
200
____
ii -- 1450
Chealic
Citizens Ctl 17712 _
'ity
C4
1435 1446
Coal 4,6 Iron 155
160
Colonial Ii-. 425
-__
Columbia
3lumbia Il_ 335 350
Commerce.f206 12071,
309 312
Corn Ex $
East River- 105
115
175
Fidelity 1._ 166
Bid
Banks
Ask
Bid
Banks
Harriman.. 290
Fifth ANTI- 4500 4750 [nap
567
Trad
&
325
300
Filth
____ Irving N Ex 230
1010
First
200 205 Liberty_--.. 695
Fourth
__ Lincoln-- 395
Gallatin __. 350
sdanhattanli 335
290
Garfield ..- 275
- Aark't&Ful 255
Ger131-Ani 11 140
950 \Lech &Met's 262
Germ'n Exli 425
Mercantile. 150
MO
Germania iii. 525
Merch Exch 16212
166
155
Gotham
-...„ 14.11r611611t6.- 136
Greenwich 1 250
---Hanover- 648
Ask
Banks
___ I Metropolis 11
5751 Metropol 'fil
Mt Morrisl_
235
805 I Mutual I___
405 I Nassau __
-_-- New Neth_li
265
NewYorkCio
New York_
265
Pacifiel____
154
18714 Park
leo IPeople's 1....
Bid
375
197
250
288
300
210
875
330
253
370
240
Ask
400
202
260
29212
-__
220
-2.5
374
250
Hid
Banks
Prod Bich 1 t 17512
Reserve
Seaboard __ 415
Second ____ 375
Security S-- ---Sherman- 135
State 11 ____ ___
23d Wang'. f16
Unlon Exe_ 165
Wash kits li 275
West Side 1 ____
Yorkville T.. 600
Ex-rights. 4 1,099 than 100 shares. ¶ State banks, a-Ex-dividend and rlghts. b New stack.
•Bid and asked prices; no sales were made on this day.
'Moat tbBpric.. x Ex-cyyldend. 4'u11 paid.
Sale at Stock Exchange or at auction this week, it First installment paid. a Sold at =ITU.
Ask
--400
145
-250
„
179
_
650
...,..
896
New York Stock Record-Concluded-Page 2
For record of sales during the weelc ot stocks usually inactive
STOCICS-HIGHEST AND LOWEST SALE FRICES.
Saturday
March 23.
Tuesday
March 25.
Monday
March 25.
Wednesday
March 27.
Thursday
March 28.
Friday
March 29.
Sates of
the
Weet
Shares
[VOL. LXXXXJY
ee secoacl pic PreceJincf
STOCKS
NEW YORK STOCK
EXCHANGE
Range rifles January 1.
On basis of 100-share lots.
Lowest.
Highest.
Range for Previous
Year 1911.
Lowest.
11(54)621.
Industrial &,11iscell aneous
*190 193 *190 198 *100 198 4196 200 *197 205 *200
210
492 A dams Express
5191 Mch 12 202 Jan 1. $198 Nov 3245 Apr
12
53
34
34
58
12
58
%
El,1Its-Chaimr
118
3
4
113
134
12,100
12 Mch 26
314
312
134 Mch 29
llg Dec
*314 312
1.134 May
312 334
334 4
4
434
412 5
Do pret
5,800
314 Mch25
633 Dec
8 Jan 2
7814 8018 8018 811g 7978 81% 7078 8118 7813 8012
34 Feb
7934 8114 143,700 Amalgamate I Cop per _ _ _
60
Feb
1
Mch26
8138
7138 J'ne
6312 x6212 6314 6214 63
63
443
4 SOD
6212 6212 *61
621
62
Amer
5312
800
Agricult
ural
Feb
Chem_
27
*101 10518 *10212 103
Mch
6353
4434 Set)
22
6312 Dee
103 103
10212 10212 103 103 ------- --3
Do pret
00
101 Jan 13
0912 Oct 105 Dee
5812 5918 5334 5933 593s 6,21s 80
Mch20
62"
60
6114 -6014 6113 63,800 American Beet Sugar_- 53 Feb 26 10414
3914 Jan
623 Itch 27
*981. 09
5934 Oct
*9712 99
99
99
*9812 99
*9313 99
*9712
Do
pret
100
988
9712
Feb
28
1813 1978 20
10073
92)2 Jan 101 get
Jan 10
2212 2134 2314 2158 2233 1973 2178 2014
2078 189,330 American Can
1114 Feb 1 2314 Mch26
101 10414 10412 10613 105 10858 10312 105
876 Jan
1213 May
102 1037 103 10312 34,480
Do prof
9033 Feb 1 1083 Mch 26
57
0318 Dee
5712 573 68
77 Jan
5634 573• 5673 5714 5634 57
5613 5631 10,700 America
'
, Car & Foundry 40 Feb 5 58 Mc1i25
*11612 11712 8116 11712 4117 117
5814.J'Iy
4233 Set)
117 117 *115 11712 *115 11712
Do
pref
110
113 Feb 14 118 illeh 18 113 Oct 120 May
5214 5418 5412 5514 54
541
53
54
5212 5234 5238 5234 7,000 America* Cotton Oil
4512 Jan 19 5514 Mch 25
*97 180
*97 100
62% Feb
4438 Nov
*97 100
99
*9814 ____ *0878 -__
99
Do pref
103
*215 220 *215 218 *215 220
95 Jan 19 9914 Feb 13
02 Nov 10513 Feb
216 216 4219 219 4216 222
America
n
125
200 Feb 2 3220 Feb 13 201 Sop 1255 Jan
Express
*4
414 *4
414
44 414
418 414
414 414
414 438 1,800 America* Hide ed Leather
43 illch 29
3 Feb 19
2314 2:314 23
312 Sep
2314 2312 2334 2334 24
5 J'ne
2378 24
2473 247
Do pref
1,400
20 Feb 26 247 Mc1i29
*22
23
2214 2212 2214 2214 32214 2214 2213 2214 2134
IS Sep
2033 J'ne
22
2,250 American Ice Securities_
18 Jan 2 2314 Mch 9
12
121: 1212 1234 12
L:13
2534
Aug
J'Iv
1214 12
12
*1112
1212 *11
12
2,159 Am erlcan Linseed
9 Mch 6 1234 Mch25
*32
35
8 Aug
3414 3434 3414 3434 *32
12% Feb
3.112 33
3413 *33
Do pre/
33
900
30 Feb 20 35 Jan 3
3838 39
26% Oct
3.113 Dee
3914 40
3914 40
39
393
America
4
387
3
n Locomottve
394 3834 39
3434 Feb 27 40 Mch25
7,300
*10814 110
;;2)3 Oct
109 100 4108 110 *1.08 110
4314 May
108
3110 110
Do pref
210
103 Jan 15 109 Mch25 102 Oct 11034 Mch
1218 1218 1214 1238 1213 1234 *1113 1213 1214 110
1214 *1112 1212 2,100 Americas Malt Corp434 Jan 10 1234 Mch 26
57
57
3 Sep
5613 57
57
533 Jan
57
5618 5678 *56
57
Do
*56
57
pret
1,100
42 Jan 6 5713 Itch 15
*,86
3112 Mch
88
*8714 88
*33
4333 J'iy
86
*86
88
8718 871
8713 8713
200 Amer Smelters Sec pre( B 86 Mch22 8714 Mch 11
8358 8572 87
82 Sep
8938 8678 88
8918 J,'Iy
8514 88
8412
8614
Amer
8514
803
8
234,350
Smeitki
g&
6773
Refining
Feb
10712 10734 10734 108
1 8058 Mch25
56% Sep
107 10712 10714 10712 10613 107
8373 J'no
10612 10612 2,600
Do pret
10233 Jan 2 108 Melt 25
3183 8,153 3153 32
9834 Sep 10818 .1'110
32
32
31
32
*31
3112 3014 3014
810 Amer Steel Found (new) _
26 Jan 19 3512 Jan 4
25 Sep
12712 129
12813 12812 127 12912 12610-12812 12714 12818
5212 Feb
America
n
22,963
Sugar
114:14
Jan
12112 12112 *120 12213 *120 123 *120 122
Refilling
12 12912 Mch27 11214 Sep 12218 Feb
1211i 12112 3121 122
Do prof
400
11513 Jan 5 12214 Mch22 111 Jan 11912 Feb
14818 14858 14833 14918 14813 149
14838 14873 14813 14834 314638 14678 16,211 American Telepn
13732
&
Jan
263 263
Mch23
2
14912
13112
Aug
Toleg
25934 263
15313 J'no
25714 25918 259 260
257 25713 2567 25678 2,370 American Tobacco
21118 Feb 90 287 Jan 26
*10412
105 105
105
*10434
Do pret
700
*105 108 *10013 10712 *106 107 *10614 105 *10814 106 *10434 106
102 Jan 9 10834 Jan 19
87 Aug 10514 Dec
107
10712
10713
Do pref cents of deP- 102 Jan ll 10814 Jan 18
10314 10314 10233 10313 10314 10314 10234 10312 *10212 103 *10614
9212
Sep
105 Deo
10234 10278 1,900
Preferred, new
10114 Jan 11 10638 Jan 19
*28
30
*2934 -___ *29
2934 2912 2912 *281 2913 *2334 2914
200 American W'ootea
2514 Feb 6 30 Jan 11
*9312 9413 x9214 0214 92
2512 Dec
3612 Aleh
92
*9134 9234 492
92 *9012 9234
Do
86
prof
548
Feb
7
9412
NIch21
8514
_
Oct
2914 2033 *29
11614 J'ne
30
*29
30
*29
30
*29
30
424 Amer 1A'r1tlng Paper, prt. 2518 Jan 25 31 Feb 26
7
1673 1133 41
2412 Sep
4134 41
841*Teb
4113 4038 413
4014 4038 4038 4034 39,700 aAnacondaCoppe
r Par$25 $34 Feb 1 $4134 Mch 25 328 Sep 84113 J'ne
*10433 105
105 105 *105 10514 10514 1051 10514 1051 10513 10513
1,000 DaldwIn Locomotive. Pf 10234 Feb
31
10513
3112 3112 3234 3214 343
Mch 29 10314 Dee 107 Deo
3312 3434 3234 3453 3312 3414 19,250 luethiehem Steel
"2
2734 Feb 27
3434 18Ich20
*59
607
61834 6214 61
1.6 Sep
6332 6133 63
3818 Aug
61
6218 61
62
Do pret
7,500
8613 Feb 27 635 Mch 26
*137 180
140 14013 141
54 Se0
141 142
0634 J'iy
141 142
142 142
Brookly
n
1,200
Union
Meh21
13712
Gas
142
38
30
Mch27
30
30
*2934 30
3129 Sep 14814 Nov
3013 3013 *39
3012'*30
Butteric
3012
k
300
Co
2912
Mch
18 3012 Feb 9
2314 23.78 2312 24
28 Feb
23
2334 2313 8412 2314 2334 2312 2358 12,200 lentral
31
11th
1612 Feb 27 2413 Mch27
Leather
8812 80
*8812 89
1834 Sep
8812 8878 89
3338 Feb
8934 8914 8914 89
89
1,700 1..) Do pret
80 Feb 27 9314 Jan 2
2834 2.714 2733 28
9118 Dcc 105 Feb
2713 277
2734 2912 2818 2914 2834 2914 40,730 dChino Copper,,
__
$25
_Par
Jan 15 $2912 Mch 27 21612 Sep 52712 Dec
;5
2013 2912 29
30
2834 30
3114 2912 30
30
30
3012 6,300 Colorado .Fuell & Iron
2318 Feb 28 3114 Arch 27
14114 14214 14214 14334 14313 14434 14414 14578 14414
25
3638 Feb
146
14413
53,375 Consolidated Gas (N Y)_ 13814 Feb 17 146 Meh28 12834 Sep
1378 14
14
1838 1538 1634 1538 1634 1478 1512 15 145/3
Set) 14512 JOG
Corn
1512
47,305
Product
s
Hefting
10 Jan 16 1634 Mcli 26
8134 8253 8213 8312 84
938 Oct
8412 8333 84
1534 May
x8118
84
8334
Do pref
8218 5,250
g7614 Jan 3 8412 Nlch 26
3213 3312 3234 34
73 Sep
3234 3318 3238 33
85 May
32
3214 3218 325
20 8 7,610 Distillers' Securities Corp 28 Feb 5 34 Mch25
*13
18/3 1812 1813 1834 1834 *15
29 Sep
3814 Mai
1812 *15
20
*14
Federal
200
Mining & Smelt.): 1114 Feb 28 1834 Mch 26
40
4053 43
46
4434 4513 *43
13 Dec
36 Feb
46
*43
46
*43
Do pret
46
2,100
3718 Jan 23 46 ilic1i25
166 16734 16534 16714 16514 16613 166 168
3/ Dee
6012 May
12 165 16734 16514 16612 15,373 General Electric
3018 3013 301 3018 3018 3018 3013 3018
155 Jan 2 16812 Alcii27 142 Sep 183::, May
3014
3014
3014
Gen
3014
Motors vot tr ctts
1,650
771 7713 *76
30 Feb 26 3514 Jam 19
7713 7534 78
35
Nov
5134
76
Aug
78
777
*74
*74
Do prat Vol tr etts__, til4 Feb 28 7813
700
47
778
5
4% 5
15
7412 Dec
8338 Aug
473 5
48 5
473 5
x438 438 18,875 dGoldtleld Con I& Par $10 1414 Jan 3 55 Melt
11618 111334 1114 115% 11134 1157; 11538 116
$312 Oct
Mch 18
Jan
377
8
114 115
11333
nt
11414
6,825
Harvester stk tr ctts 10514 Feb 1 11734 Mch 14
12014 8105 11612 8115 12014 *115 12014 *117 12014
9013
12038 May
12014 121
Do pret elk tr ctfs
11612 Jan 26 121 Feb 8 115 Sep
200
5
5
*434 518
Sep 1.:81.1 May
5
514
538 58
514 658
1
78 22,150 Int Mer Marine stk tr ctfs
4 Mch 7
*21
778 N1ch29
314 Sep
2234 2212 23
2338 2478 24
8,8 Jan
25
243 253
2588
2
Do
26
pref
17,530
lOIg Mch 12 26 Mch29
1383 14
14
14 Aug
1414
13
2212 Deo
1.334 13
12
1334 12
1134 1234 4,950 Int natatorial Paper
938 Jan 17 1414 Mch25
5914 5912 57
5914 58
Sep
133s Jan
58
5418 57
5213 5414 53
Do
54
pref
6,425
x457
Jan
8
3 5912 illoh22
30
3012 3012 311s 301 3034 3013 3138 30
4433 May
56% Jan
30
30
0,200 Internal Steam Pump
28 Feb 23 34 Jan 2
8233 823
8173 8214 *8134 821 *8173 8212 8173 8178 18213 30
23 Oct
44 Feb
8213
Do pre(
415
79 Feb 1 8334 Jan 0
10512 100 *10534 106 *10514 106
80 Oct
1)012 J'no
106 10734 10744 10714 10718 10714 2,150 Laclede Gas (St L) com
104
*17512 180
Mch16
17912 17978 177 177
10834 Jan 4 10114 Sep 11413 Jun
17713 17713 *175 180 *170 170
Liggett
730
&
Myers Tobacco 156% Jan 15 185 Jan 26
*109 111 *109 111 *10812 11012 1097 1097 108 10934
10934 110
Do preferred
400
*7912 80
10513 Jan 12 11313 Jan 18
7912 80
*7912 83
*7012 83
80
80
80
80
GOO Mackay Companies
7518 Jan 31 8314 Feb 19
*69
70
*69
70
6034 6934 *60
7412 Dee
70
93 Feb
Do
693
6
4
4
69
4
693
03
3
prof
494
4
6812 Jan 11 7078 Jan 23
*70
72
7018 7018 *70
7113 71
63 Dee
71
77 Mch
*71)
74
*70
72
200 May Department Stores_
7018 Mch25 7412 Feb 7
*10934 11014 *110 11038 *110 11034 110 110 *10912 11034 *10012
70 Apr
87 J'ne
11034
Do
pref
100
110
2412 2434 2478 2514 2514 2578 2538 208 2534 23I%
8 112 Jan 11 10734 Sep 11314 J'na
2013 2612 36,300 (Miami C.314per.,._Par 85 22318 Jan
Feb 14 52612 Mch 29 811313 Sep 52412 D'ec
150 15134 150 15134 14973 15014 14978 14973 *14738 149
150 1507
1,700 rtjatlonai Biscuit
13912 Jan 2 15414 Mch22' 11714 Jan 14334 Nov
129 129 *127 ---- )12712 12712 4129 129 *127 129 *127
/.1
129
Do
142
pret
12614 Feb 20 129 Mch 1 124 Jan 130 Feb
16
1838 1638 167
1653 1734 167 1734 17
1753 *17
1712 7,000 Nat Enanlerg & Stamp'g
1214 Feb 29 1734 Mch 26
1212 Dec
*90
22 J'ly
95
93
94
9312 49312 9313 93
*90
9412 *90
9.812
Do pret
003
88 Fob 27 9513 Jan 2
85 Jan 10034 J'1Y
5734 5858 5814 5013 58
5813 5712 58
577
568
5634
National
5714
11,240
Lead
5118 Jan 9 5913 hIch25
*107 100 *107 109 *107 109
4213
Sep
59
Feb
107 108
10712 10712 *107 108
Do pref
100
10512 Feb 1 10934 Feb 15 101 Sep 10934 Aug
20
2012 2014 2034 2018 201, 20% 203
1978 2014 2018 2014 28,250 dNev Cons Copper.,
Par ;5 31814 Jan 29 $2034 Itch 25 8151g Sep 82114 J'ne.
55
5518 56
5658 56
5614 5514 56
5358 5514 *5312 58
New
York
1,800
Air
Brake__ _
50 Feb 17 5858 Melt 25
79
7914 7914 7912 788 7934 7913 7933 7913 7973 7918 7014
45 Oct
70 Feb
5,150 North American Co mew) 7412Jan 3 8073
3218 3212 3.3
Mei)15
64 Jan
3332 3214 3312 33% 35
7334 May
3313 3412 3373 34
11,600
Mall
30 Jan 3 35 Mch27
48
23% Apr
4812 4813 4818 *18
49
33% Nov
*48
49
48
4818
P
47
a
co
4712
:wine
2,400
Telep
*10718 10712 10713 1077 *10713 108
33 Sep
5458 Jan
10734 10778 10734 10734 10734 10838 3,300 People's CI L & Teleg- 47 Feb 5 5138 Jan 4
& C (Chic) _ 103 Jan 8 10833 Mch29 10112 Aug 101) Jan
*1813 1912 19
10
2038 197 2038 2014 2014 *19
19
20
6,600 Pittsburgh Coal Co
2 *79
11334 ilIch 1 2033 Mch 26
*70
17 Dec
8013
80
808 817g 811 82
2314 J'ne
8012 8012 81
81
Do
2,700
pret
77 Feb 8 8378 Jan 2
184 184 818112 18112 1708 17978 17813 17813 *170 185
0734 Jan
90/8 J'ly
182
400 P. Lorillard Co
167 Itch 11 189 Jan 26
*10912 11012 *10934 11014 110 110 310934 1103 *10034 11014 110 182
110
Do
200
preferre
d
343 3433 35
Jan
12 115 Jan 19
10733
3514 343.1 3434 *3434 35
3312 3413 3312 34
1,820 Pressed Steel Car
*101 102
2834 Feb 27 3538 Mch22
10112 102
25 Sep
1013 10112 310114 10212 *101 102 *101 103
3753 J'ne
Do orec
400
*10813 11112 *10812 11112 *10313 11112 *10812 11212 11134 1113 *10912
06 Feb 28 102 Jan 2
91 Sep 10214 J'ne
4
111
300 Pub Service Corp of N J_ 10634 Feb 17 11134 illch 88 108
*15913 16034 )161 161
160 16018 160 160
Oct 120 Feb
160 16013 16012 1607
Pullman
1,592
Company
15812
*31
3212 3212 33
Itch 14 154 Sep 163 Jan
32
323 *3112 3212 *3112 33
3112 3112 2,652 1)allway Steel Spring_ _ _ 271. Feb 2 16112 Mch25
*99 102
Feb 8 33
10013 10012 *100 101 *100 102 *100 102
28 Oct
39 J'ne
300 1t, Do pret
1734 1814 1314 1812 1814 1834 1813 187: 1834 1914 10012 10013
100 Mch 12 103 Feb 21
92 Jan
19
19
dRay
47,865
ConsCopper Par $10 516 Jan 29 $1933 Jan 2 512 Sep 103 .1:no
2133 22
2214 23
2212 22% 2233 2253 2112 2214 2114 22
319 Dee
10,300 Republic Iron & Steel
*73
Feb
1534
74
26
Jan
27
2
74
18
7+34 7318 74
Oct
73
3514 Feb
7334 7214 7234 7133 7213 5,902
DO pref
6412 Feb 27 851 Jan 3
15313 15318 154 154
7418 Oct
15334 155
155 15518 15512 15612 15512 158
99% Feb
1,633 Sears, Roebuck & Co
4812 4812 *45
140 Jan 15 16014 Itch 4 12512 Sep 192 Feb
49
*45
49
*46
49
4678 4678 *45
48
200 31o88-Shettield Steel & Ir_
3914
4018 4038 40
Mch22
Jan
30
4034 3978 4014 3913 40
34
4012
Sep
5614 Feb
3914 40
3934 4038 15,000 dTennessee Copp_Par 525 53412 Feb 1
*9913 103
*9912 103 *100 101 $101 101 *100 101
$4034 Mch 25 83014 Sep 844 J'ne
100 100
ndervvoo.1 Typewriter_ 109 Meh20 10513 Feb 23
350
*109 11212 *109
_ *109 11214 *109 11214 *109 11214 411112
63 Mch 111 J'ne
1111
50
Do
pret
2
4558 1612 1638 -1-638
111
11234
Feb
26
Feb
- 1638 16
103
13
Mch 11373 ‘I'ly
*1538 1612 *1513 1612 *1543 1612
200 U S Cast / Pipe & Foundx 13 Feb 16 17 Jan 3
*52
54
*5234 54
*52
11 Sep
55
*5234 63
19 Feb
5312 5.312 *5212 5312
100
Do pre!
*94
*94
98
97
4012 sep 361 Feb
*94
50 Jan 4 5378 NIch20
06
495
98
*05
139
*95
08
230
United
States
5253 54272 5253 53
Express
Mch
22
84
Jan
5278 55
31 397
84 Dee $105 Jan
5413 56
5414
5514
553
5412
29,100
United
States Rubber
1137 1138 11373 11373 114 11413 11418 11412 114
4514 Feb 1 50 Mch 27
3012 Sep
4812 Deo
114
114 114
1,500
Do 1st prof
78
7814 *7712 7812 7812 7834 79
109 Jan 30 11412 Mob 27 104 Sep 11612 J'ly
7914 794 7912 791,8 7918 2,500
Do 2d pret
6733 69
69
75 Jan 23 7913 Itch 28
7018 6734 6918 6713 6938 8718 6832 6714
66 Sep
79 Mch
6814
728,300
United
States Steel
113. 11312 11318 11338 11278 11312 1124
5314 Feb 13 7013 Jan 25
50 Oct
8218 Feb
11314 11178 11238 112 112
9,560
Do
59
61
19738 Feb 13 11333 Mch25 103 Oct 12078 Feb
6114 6238 6038 618 6038 62
6018 6138 6013 6114 119,455 dUtah prof
Copper
5434 5313 5412 5538 5414 5434 54
_Par
55213
;10
1vic1125
Jan 29 33238
538 Sep 55772 Dec
5112 5333 5334 *5313 54
Virginia-Carolina Chem.._
*11912 122
12134 12134 *121 122
5233Jan 0 5714 Jan 26
12034 122 *12112 12214 12014 12014 7,700
4313 Sep
7048 Feb
900
Do pret
*144 147 *144 147 *144 147
119 Feb 14 122 Mch27 114 Sep 12812 Mch
14612 14812 *144 147
144 144
200 Wes
elit
s
er
F
n
arfn
8418 8412 841g 8434 83% 8418 8334 84
o
io
&
neo
4142 Feb 7 151 Jan 3 139 Sep 177 May
8313 8312 8334 84
2,987
76
7912 7834 7912 7813 80
Teleg- - 79 Jan 2 8614 Jan 18
841.4 May
7712 8178 8814 7812 7612 77
7133 Apr
61.6
50(
50
) We.stingh'seEl &Mfg amen 6614 Jan 3 8178 Mch27
12134 122 *119 12134 12111 12112 121%" 1217
5818 Sep
79 May
3 *117 12212 *119 122
Do letoret
11478 Jan 5 122 Mch23 11012 Aug 123 Jan
12778 125z8
no .1:05 10013
141
EJ
BANKS AND TRUST COMPANIES-BANKER
S' QUOTATIONS.
Bank..1
Bid
Ask
Brooktyn
Broadway T 300 410
Coney Isl'a155
First
17
- - 285
;
HillsIde1i
____ 125
from esteadl
. 100
318nut:tc'rs 4-1-5 - 430
Mechanics'T 205
245
Montauk
150
Nassau _ 1.---212
225
..at City
283 295
Banks
Brooklyn
North Side
People's __ _
Prosp'etPlej
Bid
Ask
150
150
140
170
160
155
N Y City
Astor
380
Bankers' '1r 5540
B'way Tr
160
365
Trust Co's
Trust Co'I Bid
Ask
N Y City
Central Tr_ 1 1047
Col umbia _ 360 3-7-0-Commercial
95
100
Empire .,.._ 300 310
Equit'bie Tr 652 555
Farm Lo&T 1400 1423
Fidelity ___ 218 223
Ful ton
1323
Guarty Tr.. 950
Uuardian 'Jr
105
Bid
Trust Co's
Hudson -. 148
Knickerb'kt 290
w•T 1&Tr 238
Lincoln Pr. 140
Manhattan
530
Metroport'n 1115
Mutual Affiance
125
Slut.i Westchester)._ 140
Art
150
295
243
150
130
130
Trust Co's Bid Ask
Trust Co's Bid
NY Lite &Tr 11010 t 1040
Brooklyn
N 7 Trust. 635
465
StandardTr 3821 3-i - Citizens
rkV
:
B°
i 'a
_1- 140
rittee;u5s Tr 551 48._.b...... 1'ra n k 11n _ _ _ 260
Union Tr__ 11 325
_ ilamilton __ 9273
US Nitg& Tr ,
3475
Home
105
Unit States. 11132
620
Washington 390 411
13Nassa:--:196peool
LI3lL6
fr 295
s6 ° e_i
g:
-i ln
Westchester 150
1150
Windsor -- 192
290
Iueen Co 190
Ask
•Bld and asked prices: no sales on this day ;Lew
than 100 shares. t EX-rights. b New stock.
9Sale at Stock Bxchanr: or at auction this week- 8
EX stock dividend. 11Banics marked with a a Ex-div. and rights. d Quoted dollars per share.,
paragraph (11) are State banks- z Ex-divi
dend.
Yearly
Bond Record, Friday, Weeklyforand
New York Stock Exchangeincome and defaulted bonds.
changed, and prices are nsw all-"and interest"-except
Jan. 1 1909 the archangs method of quoting bonds was
BONDS
N. Y. STOCK EXCHANG
Week Ending March 29.
12
Pries
Priddy
March 29.
Week's
Range or
Las: Sale
Range
Since
Jan. 1.
16
BONDS
N. Y. STOCK EXCHANG
Week Ending March 29.
E
Price
Friday
March 29.
Wcele's
Range or
Last Sale
4t2
Range
Since
Jan. 1.
glic3
Rig' No. Low Higi
Ask Low
Bid
High No. Low High 'Chesapeake & Ohio10312 19811
Ask Low
103121E011'1
Bid
U. S. Government.
Gen funding & impt 53_ _1929 J -J - - 10312 10913
2 10214 10214
10912 11134
10012 101 10215 1021
7
110
Sale
11938
N
I11.
S 2s consol registered...41930
1939
1st consol gold 5s
10114 10114
110 11114
'1'
Mch
10114
110
1013
10034
_
110
U S 28 consol coupon.. .4193 Q-J
4939 51-N 109
•
Registered
_ 102 10234
'12
2 19012 103
101
10012
Sale
10034
k1918 Q-F 10212 103 10253 Feb
/11-S
U 5 33 registered
1992
4
Hs
gold
General
6 10113.1031s
1031
'1
Nov
9933
k1918 Q-F 10313 Sale 10318
fl
U S as coupon
1092
Registered
_ 11314 11314
8 9315
931 159 -059312 Sale 9273
1925 O-F 114 11434 1.1314 Jan '12
F-A
-S1930
U S 4s registered
Convertible 4 H.s
2 14314 11434
8718 88
11434
114 11434 11434
871
1925
194,1 J -D 8734 891 8713
U S 4s coupon
Big S ndy
1 st 4s
10112 10134
J'ne'11
10012
--_
'11
8812J'ne
8
8518
831
/0014
kl936
J-D
23
U S Pan Canal 10-60-yr
1945
Coal Rly Ry lst gu 4s
10212 26 10138 10212
1961 Q-S 102i4 Sale 10214
1940 J-J 10134 1941 10234.1'1y '1U S Panama Canal 33 g
Craig Valley 1st g 5s
4 863
g(i383 87 8634 Jan 'I
1946 J-J
Potts Creek Br 1st 4s
9512 96
95 9573 Feb '1R & A Div 1st con g 4s 11189 J -.1 04
Foreign Government
93
Mch'12
97
08
9812
8
6
97
'11
t
9214
J'ne
M-S
8912 - -1989 J-J
Zd conso! gold 4s
Argentine--Internal 5s of 1009_
9314 05
951 95 Mch'12
Warm Spr Val 1st g 5.5_ _1941 111-S 105 10812 11314 Feb '0
Chinese (Hukuang) fly 58 Z..- J-D t 94
By 1st gu g 4a 1940 111-N 911g -- 95 Oct '11
Imperial Japanese Government F-A 9315 Sale 9318
94
0213
2
93%
7314 72 Mch'12
1925
1949 A-0 7012 63
Chic & Alt RR ref g 39
Sterling loan 4 Hs
94
1 03
;
9238 10 917
623
6213 6512
1212
6234
1925 J-J t 9214 Sale 9214
Railway 1st lien 3 Hs__ _ _1950 J-J
Zd Series 4 Hs
8614 8813
Mch'12
8614
8714
8614
J
t
0934 100
J
100
100
1931
A
J
-J
F
100
2
29
4
9
Sterling loan 4s
10212 10355 Chlc B & Q Denver Div 49_ 1
t10314 1.0334 10314 Mch'12
2 87 88
871
gitiC 87
87
Div
Illinois
Republic of Cuba 15s eaten debt_ M-S
3)4s
'1
9813 Dec
_
Sep '1
1949 F- A 9918
851,
88
J-J
1949
External loan 4 Hs
Registered
9713 98
08
j-J t 9713 Sale 9712
4 114
1.
993
17 90
993:4' Sale 9912
1949 J-J
Illinois Div 45
San Paulo (Brasil) trust 53_1919
9858
9513 9858 9512
6 9613 9714
9914 9913
1899
9812 991 9954 Mch'1
1949 J .1
Registered
U S of Mexico a fir 59 of
88 9034
88 88 Mch'12
10478 10473
1954 -D
Mcb.'1_
8
1047
10478
19
9
0
A59_19
fund
sink
Div
Iowa
Gold 49 of 1904
These are prkes on the ba Ifs o / 65 to Z.
9914 9958
995
- 9958
34
9914 0
Sinking fund 4s
9812 99
98.
Nebraska Extension 4s 1927 M-N 9853 99 9858
State and City Securities M-S 10218 10238 10218
10214 53 19
018
03
5 10
18
27
1960
'1
Mch
9818
____
M-N
9712
1927
ClW-4S
Registered
IC
N
98
_1059 M-N 0973 Sale 0973 100
'1
Stock__
Dec
9813
Corporate
1921 M-S 9958
Southwestern Div 49_
4%
100
21 9978 10018
1958 M-N 100 Sale 100
4% Corporate Stock
Joint bonds See Great North.
10014 47 9934 10014
1057 11-N 10014 Sale 100
1011
3 10078 10151
1913 51-N 101 Sale 101
4% Corporate stock
Debenture 5s
10775
10738
10713
10713
Sale
10733
13
N
1057
96
7 9534 9714
Hs
1956 1-S 9573 Sale 9534
New 4
Generai 43
102
102 102
1 102 19234
1917
1 80 8112
80,
80 Sale 80
J-J
gs_1955
4
New 4 Hs
imp
&
Ill
ref
E
&
Chic
1077
10712
10712 11
124 125
1241
12413
123
12413
A-0
193.4
h% Corporate Stock 1957 M-N 10714 Sale 10713
69
gold
consol
1st
1027
1Q214
102
10212
1
10214
10214
M-N
7
109 11118
109
4
3
bonds_191
6
109
11013
10914
7
111.:N
assessment
h%
General consol 1st 53....„193
87
4
88 87
10914 10914
10914 Feb '12
1937 td-N 108
H% Corporate Stock 1954 M-N 8612 102W
Registere4
10233 Mch'12
10
8z78 a
134 10
87
111912
109
'12
1961 14-S 10133
Feb
10912
_10973
10912
J-J
53_1936
N Y State-48
1st
C
Hy
Chic & Ind
278
,
0
191
10233
10233
10253
10
10134
8113
61
8114 83
J-J
34
8114
43_19
8112
80
nt
1959 M-S
Canal Improveme
Chic Gt Western 1st 4s
10212 1021
54k
1283
11 1013
12734 12912
69_1947 J-J 127121287;128
Canal Imp'ment (new) 4s 1961 J-J 10212 Sale
ef
&
Loulsv-R
jnd
Chic
10112 Noy'll
_
109 Nov'1
1947 J-.1 10912
Canal Improvement 49._1960 J -J *10273
Refunding gold 53
_ 10312 J'iy '1
1933 J -J
967 9558 Apr '11
_1917 J-J
So Carolina 4)45 20-40
Refunding 49 Series C
____
• 9714.-_-_ 98 Oct '11
901
ii;-4;
9012
J-J
49_1956
Tenn new settlOment 3s__.._1913 J -J
g*
1st
&
Ind
Loulsv
8012 Deo '11
Jan '1'
• 9012 9012
Virginia fund debt 2-38_ __ _1991 J -J ' 1956 .1 J -idly -6173-4 0012 Dec '11
" Chic Ind & Sou 50-yr 43
4913 20 -41- "ii14
7613 -i471-2 4012
103 104
1969 J-D
6s deferred Brown Bros ctfs__
Chic L S & East 1st 4 34s
4
10124 165
10112 102. 10134 Mch'I
Chic MI1 & St P terml g 5s 1914 J-J *_9875
9812,0918
9878 Sale 11812
Railroad
Gen'l gold 4s Series A__e1989 J-J
8414
7913
'12
bleb
80
821
80
98
'12
81995
98
Jan
971_2 ___ 98
A an Arbor 1st g 48
Registered
908 121 99 100
9933 Sale 99%
8573 8673
8614
J 8578 ---_ 8614
9Q
-j
J9'89
cli.tch Top & S Fe iron g 49_1995 -o 98
Gent gold 3)4s Series B.:198
98 9912
9918 9913 Mch'12
1995 A-0
J1 85 ___ 86 J'ne'll
4 .739
Registered
98
10
e1
Registered'
9112
9114
56
Salo
0114
9
Nov
92
74 -0134
92 Sale 9134
Adjustment gold 49......_819
25-year deben 4s
'1
992138
Feb
114
0
91
9
91
81995 NovA
Registered
1921 J-J 10615 ____ 106 Dec '11
Chic & L Sup Div g 5s
9253
91
24 01
711905 M-N 9158 Sale 91
idi io@"4
10834 Feb '12
Stamped
_
Chic & Mo Itiv Div 5s_ 1926 J-J
10614 10612
10613 Mob'1'
_1955 j-D
2 106 19634
10618
1921 J-J failsSale 10613
W
g
P
5s
1st
&
Cony 45 issue of 1909
Chic
109
10534
109
10814
55
1955 J-D 10812 gide
94 9514
94 Mch'12
94
_
J-J
1940
4s
Sd
1st
gu
Puget
Cony gold 4s
&
CM
10414 1534 10014 10114
Sale 10313
103" 103
4 103 103 Mch'12
191 J-J /.4323Cony 48 (issue of 1910)_1960 j-D 1b4
flak & Gt So gold 53
;
.63
60
14
117 1_();:..:
110 Sale 10912 110
113 11353
113
69_1920 J-J 113 11314 113
f
s
Div
1st
10-year cony gold ps_ _.1917 j-D
Dubuque
'10
Jan
08
Det)entures 48 Soria J__ _1912 F-A
Fix & Sou assum g Os_ _ _1924 J-J 115 ____ 11733 Aug'11
9914 J'ly '11
1913 F-A
10412 10413
1919 J-J 10334 __ 10413 Mch'12
Series K
LaCrosse & D 13t 59
963
96
10633 10633
3-1
j 10612 ___ 10633Jan '12
2
21 j
920
East Okla Div 1st g 4s_ _1928 14-S 9638 ___ - 0334
Wis & Minn Div g 59_19
4
933
9334
10 9234
9384 9375
Mch'12
11234
____
14234
11234
11258
let
6s
Short Line 1st 4s gold__ _1958 J-J
Div
Vail
Wis
110 11012
Mch'12
1913 J-D 102 ____ 10134 Dec '11
S Fe Pres & Ph 1st g Os_ _1042 M-S 110 111 _ dO J'iy '11
MU & No let cons 68
_
10633
10412
_ 10014 Nov'11
1915 M-S
1913 J -D 10014
Hs
4
Chic & St L 1st 6s
Extend=
9514 28
-1/67-s
1077
Sale 95
10712108
cons 7s _1915 Q-F 10758 10838 10778
AU Coast L 1st gold 49.___/11952 111-S 95
____ ---- ChIcago & N West
_ 98 Oct '0
98 . Mch'l _
9714 98
111952 M-S 94
1886-1926 F-A
Registered
Extension 49
-__
10853 Aug'11
F-A 96_ 0734 Noy'll
1886-1926
Ala Mid 1st gu gold 53_ _1928 M-N 10734 10918
Reglitered
9534 Jan '12
9534
"sif
86
_
17
86
9512
Ktie
5614
-J
86
J
1938
M-N
43
1987
gold
gu
1st
W
&
Bruns
General gold 3 Hs
8634 Feb '12
8634 8634
p1987 Q-F 85
Charles 5: Say 1st gold 7s 1936 j-J 128 •;3.i. -J4-12
Registered
9434 179 "iiii2 14E3-4
72 9758 98114
98
9758 Sale 975p
01952 M-N 9412
M-N
1987
L & N coil gold 45
49
General
-11
____ --- 12378 12534 12514 Dec '11
4 Nov'
Say F & W 1st gold 6s__1934 A-0 lossa
Sinking fund 6e___..1879-1929 A-0 1111____ 1113
11058 May'll
11114 Nov'
1934 A-0
1879-1929 A-0 11013
1st gold 5s
Registered
9714 100 97 Jan '12
"H.-if
10712 Oct '1
1918 J-J
107
10513
A-0
1870-1929
Sil Sp Oca &,G gu g 4s
58_
fund
Sinking
9238 17 9134 93
9214 Sale 92
_1925 J-J
10373 Dec '11
1879-1929 A-0 10412
Volt & Ohio Prior 3 Hs __ )11925
Registered
9114 20 9073 0114
91
*9012 91
10412 1081
_- 10413 Feb '1
Registered
1921 A-0 10412 1043
11
,
.
Debenture 53
9818 47 9734 9914
81048 -0 9818 Sale 9778
_ 10613 Feb'
103
A-0
921
1
Gold 4$
Registered
9813 9813
97 98 9813 Mch'12
10813 10S1
'12
111948
Mch
10812
___
Registered
111-N
10813
1933
Sinking fund deb 5s
112 112
112 Jan '1
1938 M-N 10513__10734 Aug'11
Pitts June 1st gold 6s__ _ _1922 -J 11214
Registered
Mch'12
88 8878
12713 WI
Mch'12
-12718
-A-0
PJunc & M Div lst g 3 Hs1925 M-N 88. 88
1261s
68_1933
1st
V
Mo
&
Elk
Frem
92
9114 12 91
9114
9012 Sep '09
P L E & W Va Sys ref 4s_1941 M- N 9114 Kye 9113
Man1GB & NW 1st 3 Hs 1941 J-J
9114 62 91 9112
9114 Sale
1941 J-J
Southw Dlq 1st gold 3 Hs 1925 J-J
hs
3
gu
L
&S
lst
Mllw
Meh'10
114 11513
11553 Mclz'12
Cen Ohio It 1st c g 4 30_1930 M-S 10012 103 103
mil LS & West lst g 6s_1921 M-S 11353,
2 ii61-2
ii6i
1101_9 Mch'12
110 110
110 Feb '12
Cl Lor & W con 1st g 53_1933 A-0 109 1105 1037
Ext & imp s f gold 5s 1929 F-A 10934 _
1037i 104
^Ich'12
14212 Feb '02
5
51-S
11612
192
g
6s
1st
Div
Monon Rio 1st gu g 53_ __1919 F-A 10214 -Ashland
10933
10913
10938 Mch'12
11612
11618 Oct '11
J-J
gold
1st
Div
69_1924
Mich
Ohio River RR 1st g 53_1936 J -D 10933__
1937 A-0 104 id 106 J'ly '11
General gold 5s
Northw Union 1st 79 g_1917 51-S 112 _ _ 115 J'ly '11
Hifi Hil-2
11312 Feb '12
- 11334 Aug'11
Winona do St P 1st ext 7s 1916 .I-D 11112 11478
Pitta ()ley & Tol 1st g 63_1922 A-0 11312
9712 0712
9712 _ 9712 Mch'12
3
1917 J-J
1058 161710834
Pitts & West 1st g 45
Chicago Rock Is & Pa 69 1917 J-J 10758 - - - _ 10834
95 Noy'll
1917 3-.1 10712 1091 109 Aug'10
Stitt 131 Ily 1st gu g 4 Hs _1943 J-D 89 96 11258
Registered
8
95% 38 0512 -667J-J
9578 Sale 9553
1088
4s
gold
Buffalo 11 & P gen g 58_1937 M-S 11178 1033:3 10714 M4813'12
General
4 iliff4
felf1-95 9614
1957 M-N 10513
1988 J -J 9533 96 9514 Mch'12
Consol 4 hs
Registered
9512 ___ 97 FA '11
8975 79 89 9034
1934 A-0 8958 Sale 8953
43
gold
All & West 1st g 4s gu__ _1998 A-0 108
Refunding
'08
J'IY
____
---103
9713 J'ly '1
1912 11-N 9734
CI & Mali 1st gu g 58._ _1943 J -J
Coll trust Series J 4s
113 17121 11334 Noy'll
9734 Sep '11
191414-N
Roch & Pitts 1st gold 63_1921
Series L
-- 11673 Mch'll
1922 J-D 115%
901. Noy'll
Consol 1st g Os
191551-N'
45
Di
72
Meh'10
. 50
'09
1916 11-N
Buff & Susq 1st ret g 43_ _d1951 J-J
N 45
- - - - 94 - Dec
fol
10158
3
May'10 1913 j-J ioi 1008 101
So 1st ext es
191714-N
0 4s_.
- - - - 9414
10038
2 1003 101
9134 J'ne'11
1913 111-S 10032 Sale 10033
C
191851-N
•••••0 2d 55
P 45
Jan
1003.j
'11
7271, 284 7112 7314
1916 M-S
Registered
Chit, R I & Pac RR 49.._ _2002 N1-N 7233 Sale 7233
11314 Jan '12
11334
_
7134 7234
2002 Si-N
Central of Ga 1st gold Gs_ p1945 F-A 11258 166
Registered
3 109 11013
3-4 10912 1091
10912
2
1.
92 93
ebh i1
firec
N,
A
8I
134
1945 if12:3
9
17
11-S 9158 9
1934
Consol gold 58
1st
&
Louis
Ark
434s
I
R
10712 Noy'll
110%11112
*94945
Registered
-.
11034
A-0
59_1934
g
N-lst
11
&
Bur C
103 Dec '11
12012 Mch'03
1934 A-0
• 1st pref income g 53_ _ ..2,1946 Oct
Registered
10612 May'll
i
Aeup
l
4S
07:
Stamped
•
CRIF &NW 1st gu 5s '21 A-0 104 106 i16
105 Dec '11
-D
J
_1027
2d prof laconic g 55____p1945 Oct
7s__
g
L
lst
gu
St
&
M
96 Noy'll
2
2d pret income g 5s stamped 46
Choo Ok & G gen g 58_ _01919 J -J 16273'11
Dee
107
53____p19
_
4
4 11411508.
Oct
114
08
10
1952 M-N 10714 _
3d pret income g
Consol gold 53
8513 Oct '10
11 ---1 100 101
Mc10
'
• 3d pret Income g 5s stamped_ _
1.923 A-0 98 101
Keok & Des NI 1st 5s
'ios ii
91 Feb '12
1 12314 124
Chatt Div pur mon g 4s_ _1951,:1:15 01 9112 10114
P hi & 0 con 6s_ _ r930 J-1) 12234 12334 12312 12312
St
Chic
10714
10714
'12
Jan
1st
g
5s_ _1946' j-J 108
93 Dec '09 ____
Mac & Nor Div
Cons 6s reduced to 3 345....1930 J -I) 91
_
Nov'05
2
11U1-2 12-3-112312 Mch'12
Mid Ga & AU Div 51____1947 J-J 10512__ 115
Ch St P & Minn 1st g 6s 1918 /11-N
1946 J-J 10712 _- 10034 May 11
12953 May'
Mobile Div let g 55
1939 j-J 123
Wisconsin 1st 6s_
Nor
irii"
idifs
103
103
-Ga
col g 53_1937
10273
141
12 111, 11118
_
111
111
__
A-0
Os_
_1910
g
1st
4)en RR & B of
City
S
&
P
St
12234
121p4
12153 12218 122 Mch'12
cent 01 N J gen'i gold 5s_ _ _1987
Superior Short L 1st 5s..193o M-S 108_
12112 12214
120 12314 12214 Feb '12
111987
Registered
108 10812
•
Chic &West Ind gang 6s_q1932 Q-M 19812 Rifil 168-1-2Fe6-.15
19013 107
1 9114 9213
9114
9114 Sale 9114
1952 J-J
• Am Dock & Imp Cu as.._1921 -J 10612 Sale 10613 10612
Consol 50-year 45
102
101 101
Mch'12
10112
101.
J-J
___
1937
4
• Le & llud 11 gen gu g 53_1920 J Hs
gold
2d
D
idd 166- CinH &
___- 106" Feb '12
100 ____
---- -I. Le114 Wilkes-B Coal 58_1912
9112
1959 J-J
1st 4: refunding 45
100 Dec '11
S 100
- - -- May'11
907R
J-J
89
1959
45
____
N Y & Long Br gen g 43_1941
guaranteed
1st
f25
4
92
17 -(kr - Vent Vermont 1st gu g 48...61920 Q-F 9112 •irO 9112
Next Page.
MISCELLANEOUS BONDS-Continued on
-
Street Railway
g 5s....-1945 A-0
rooklyn Rap Tran
4s_ _2002 J-j
1st refund cony gold1916-1041
J j
5s
con
1st
City
13k
•
59_1941 M-N
g
gu
con
S
• Bk Q Co &
53-__1941 3-i
Bklyn Q Co & S 1st4-59_1950
F-A
g
• Bklyn.Un El 1st 4-59.__19
50 F-A
Stamped guar
1949 F-A
Kings Co El 1st g 48
1949 F-A
• -Stamped guar 4s
49_1951 J -J
Nassau Elec guar gold 10.'51 J -J
Conn Ry& List ec ref 5g 4 1951 J -J
Stamped guar 4 Hs
2 J -J
Det United 1st cons g 4 30-193
S
FtSmithLt &Trite lstg 59_1936
_1916
J -D
58_
g
1st
Rapids
fly
'Grand
F-A
55...._195
Havana Elec consol g
A-0
interboro-Metrop coil 4)48_l956 MN
interboro Rap•Tr 5s Set A-1952
week.
*No price Friday: latest this
Rivet Railway.
9014 98
9634
1 103 10512 Manhat By(NY) cons g 4s_1900 A-0 9614 Sale 9614
104 10512 10413 10412
97
9634 981s
9712 97
tax-exempt__ 1090 A-0 97
Stamped
8
863
8833
3
8713
883
338
9912 102
8734 Sale
102 Mch'12
_
g
5s_
tr
_1997
coil
F-A
gen
Ry
St
Met
10134 102 102 Mch'12 ___ 10112 102
10353
97
Mch'12
10312
104
Co
99
certifs___
Trust
Guaranty
97 Nov'll
5812 5812
5812 Mch'12
2003 A-0
Refunding gold 4s
62
5712 6214
62
_
&
_
Tr
ctf_
Loan
Farmers'
10212 -"NJ 1013310314
idi" Wife 102
5978 26 5758 62
60 5912
•
Stamped
10153 10313 102 Jan '12 ____ 10112 102
5 103 10412
Bway & 7th Av lstcg 53_1043 J-D 10312 10411 10312 1037
8312 8612
8412 8538 8513 Mch'12
103
7 10,112 10318
103 Sale 103
lit
g
M-S
Ay
gu
58_1993
9th
&
Col
8412 8512 8615 Mch'12 ....- 8412 86
2 102 103
4
1023
10234
10315
__
M-S
F
Lax Ay ec P 1st gu g 53_1993
795A 8018 8012 Mch'12 ___ 78 81
80 80
80 Jan '12 _
Third Ay RR cons gu 49_200C. J-J
10218 ___ 101/s Jan '12 ___ 1'01 10173
715
18 7612 8113
7613
Co
terts
Trust
Central
10134 10318 10134 Mch'12 ____ 10134 10173
7614 8114
"iiffs
Mch'12
7714
•::
_
__
Cent TrCo cts stamped_
4 7858 7938
7918
--- 7918 7853
109 11012
4 10978 10914 Meh'12
1
Third Ave By 1st g 5/3_„1937 -J---S 109/
9479 95 Mch'1293 05
'0
9312.151y
_
F-A
451_1938
g
1st
Et
(Chic)
S
W
10014 Sale 10014
10014 ---1 10014 10014 Met
10412 Dec '11
99 9934 1111w Bloc By & Lt cons g 591926 F-A 94 ___ 9314 Deo '11
Mch'12
Refunding dc eaten 434s_1931 J -J
8383
8378 13313 8012 8412
8333 Sale 9938
10451 Sale 10414
10458 56 1031s 105
q Due Dec. s Option sale.
4 Due April. e Duo May. It Due July. k Due Aug. 0 Due Oct. jiDue Nov
898
New York Bond Record—Continued--Page 2
BONDS
N. Y. STOCK
EXCHANGE
Week Ending
-.
U
,..I
''
..g.,a,
Price
Friday
March 29
[VOL. LXXXXIV.
1
Range
BONDS
Price
Week's
Range
Since
N. Y. STOCK EXCHANGE
Friday
Range or
Since
Jan. 1.
Week Ending March 29.
March 29
Last Sale
Jan. 1.
—
Cln Ham & Dayton (Continued)
Bid
Ask
High No. Low High St P M & If (Continued)—
Ohs D & I lit gu g 5s_ _ _1041 31-N 10314 1043s LOW
Bid
Ash
High No. Low High
10312
10312
10114
5
Pacific
10312
Ext
gtrar
43 .£_ __ _1940 J-J
C Find & Ft W 1st gu 4s-g 1923 31-4
9214 _ _
9258 Mch 1.1
____ 88 Nich'll
E Minn Nor Div 1st g4s1948 A-0 9738 9834
Cln I & W 1st gu g 4s_ ,_ _1953 J-J
_- 9812 Jan '12
-‘1612
8712
8712 Feb '12 ____ -871.2 -8/1-2
Minn Union 1st g 6s___1922 J-J 115 115 1l478 Mch'12
Day & Mich 1st cons 4;0 1931 J -J 8100
11478 110
Mont
C
let
gu g 6s__,,1937 J-3 12734 _ _ _ 12714 Nov '11
Ind Dec & W 1st g as_ _1935 .1-J 10112 ____
104
Feb
'12
--__ 104 10412
Registered
1st guar gold 5s
1937 J-J
1935 J -J
_ 13614 Nlay'06
_
10712 Dec '02
let guar gold 5s
-Cleve Cin C & St L wen 4s...1993 J -D -6.2
1937 J
11134114 11234 Sep '11
-, 923, 9234
9134
2 9212 9314
Registered
Cairo Div liit gold 4s_ _ _ _1939 J -J 9212
1937 J
9412
94
Dec
'II
___- ____ _ _ _ _
Will & S F let gold 53_1938 J -D 113
Cln W &M Div 1st g 4s 1991 J -J
'11
Sep
11212
92 91
Gulf &S I 1st ref & t g 5s_ _51952 J-J 91
91
1 0014 93
St L Div 1st col tr g 4s,.._1990 M-N 90
di 95 Jan '12
-di- -di
91 9112 9134 Meh'le____ 9134 9312
Registered
51952 J-J
Registered
1990 31-N
____ 91 Oct '07 ___ ____ _
[Jock Val let cons g 450_1990 J-J 1E3Spr & Col Div 1st g 4:3_1940 2I-5 89
4 104 10214
idi lairs;
162
:
90 ____ 90 Dec '11
5-8
Ix Registered
1990
J-J
W W Val Div 1st g 4s
'08
1940 J -J
9114 ____ 01 Dec '11
- - - -Col & H V 1st eat g 4s1948 A-0 -(44-3-4 -95 1001.Sep '11
0 I St L & C consol 63_1920 11-N 1023.,_...
7-8 9412 Dec
. 10534 Dec '11• _
_
Col & Tel 1st ex 45
_
_
1955
let gold 45
9618 -664
k1936 Q-F 06 97 97
97
ig
Hous
'
gil
Belt
iii
&
Term
1st
9t
53-1937 J-J
Registered
-34 1
-(5C;14
- 9
18
9012 9912
2 aes :12
99
6)
Ai1936 Q-F 9513 97 9718 Dec '11
T illnols CentralChi S & Cl con 1st g 5s1920 J -J 10614 ____
Feb
10718
------1071810718 -1- 1st gold 4s
'
C C C 34 I consol 7s
1951 J-J sun _- -- 104 Feb '12
101 104
1914 J-1) 10:514
_ 10512 10312
10512 10512
Registered
1951 J-J loo __ 100 Sep '11
Consol sinking fund 7s1014 J -D
Ist gold 3;93
1951 J-J - - 6.614 91 Aug'11
• General consol gold 6s..1934 J -J iig12____ iiii4 oci-qi ___
-___ __
__
Registered
1951 J-J 8814 — - 8912 Mch'12
Registered
-891-2 -E-3611934 J-J
- - -2
__
Extended
1st
;is__1
Ind BI & W 1st prof 4s
g
3
9
51 A-0
---- 9312 May'09
1940 A-0 -------___- ____ -04 .Ply '08 ___ __ _ __ __
Registered
0 Ind 34 W 1st pref 5s__d1938 Q-J
1951 A-0 ---__
___.1st gold 3s sterling
Peo & East 1st con 4s
1951 AI-S
1940 A-0 91 - 9112 9114
"id
9114
2 -91 - -02
Registered'
1951 M-S
Income 4s
1990 Apr
3812 39 35
3712 79 35 40
Coll trust gold 43
Col Midland 1st g 4s
1952 A-0
1947 J -J
E-2
Feb idd id641
4612 42
4712 15 42 5812
Registered
Colorado & Sou 1st g 4s
1052
A-0
9813
0812
1920 p-A 97
Aug'11
9712 97
9712 13 96 9758
let ref 4s
Refund & ext 4 jis
1955 31- N 0533 Sale 9538
1035 31-N 97 Sale 97
33
06
-6E3
3 -665i
9714
Purchase
2
97
d lines 3 Ks
981s,
Ft w & Den C 1st g 6s
1952 J - J 86 _
,
86
5144 I
1921 J -D 11112 112 11113 1115s 11 11118 11212
Ffeebb 412
2
8618 8614
L N 0 & Tex gold 4s
1953 NI- N
Conn & Pas Rivs 1st g 4s_ _1943 A-0
0814 0912
_
Registere
d
1953
Cuba RR 1st 50-yr 5g
NI-N
9_8_12 9
04734 JFaen
1952 J-J -------- 100
b 411
1
- malqo - - --- Cairo Bridge gold 48
-net Lack & Western —
1050 J-D _5
138
8.- _ _
- Litchfield Div 1st g 3e_1951 J -J 74 78 7518
J.,Morris & Essex 1st 7s 1914 11-N 103158107
Sep '11
Mch'12
10578
_
__
Louisv
10578
106
Div
&
Term
31953
g
1st consol guar 7s
8514 88 86 Meh'12
J-J
-841"2
1915 J -D 108(3109 1)818 Meh'12 3 1 10858 10018
-di
Registered
• Registered
1953 J-J 855
41:
3
_i
88.
3114_2F
Neoi)
v'
1913 J -D 108
..,1
1:
_ 11138 Dec '10
Middle Div reg Is
1921 F-A 17
1st ref gu g 33.s
534 76_ 17
05
26318 I
J1b
ae
17
y:9
2000 J-D 8512
90
90
Omaha
1
90
Div
00
1st
g
33
1951
N Y Lack & W 1st 6s__1921 J -J 11358 11414 11334 Mch'12
St Louis Div & term g 33_1951 F-A
__- 11334 1 1414
Construction Is
J-J
751 7513
7414 .71 '7512 31011'12
1923 F-A 106
_
Mch'12
10712 10712
Registered
Term & Improve 45_1923 M-N ___ 09 10712
1951 J-J
74
_
98 Dec '11
Gold
3
;is
1951 J-J
Warren 1st ref gu g 3 iis_2000 F-A ____,___ 10218 Feb '03
-801
;-8634
Registered
1951 J-J
Del & Hud 1st Pa Div 7s
8512
10118 Oct '49
1917 31-S 11312 117 11512 Auell ___ ____ _ _ _ _
Spring Div 1st g 3;is_
1951 J-J
Registered
85 ___ 100 Nov'00
1917 31-S
149 Aug'01
Registere
d
1051 J
, 10-yr cony deb 4s
84 _
1918 J -D 9814 Sale 98
08% 37 9712 09
Western lines 1st g 4s
1951 F-A 96
. lit lien equip g 43s
-6.614 ma"
1922 J -J 10158 Sale 10112 10158 15 10114 10134
-66 1)614
.17
2
Registered
1951 F-A
..1st 03 ref 45
1943 /11-N 9834 Sale 9834
Bellev
43
&
998
Car
98%
1st
6s
9912
1923 J -D
- Alb & Sus cony 3;is_ _1946 A-0 9112 9213 9134
7_1::
ii7i2ma
i
.
16
9134
Carb
8
& Shaw 1st g 4
1032 31-S 9514 9712 9514 Oct '10
Rens & Saratoga 1st 78_1921 M-N 121 -- 122 Dec '11 ____ 9114 93
Chic St L & N 0 g 5.3
1951 J-D 11412 110 116 Jan '12
Denver & Rio Grande—
116 lid
116
Registered
1951 J -D 113 _
let consol gold 43
1936 J-J
114 Feb '11
8914 8014
8914
1
89 0034
Gold 3;0
1951 J-D 84 _-___ 00 Oct '09
Consol gold 4 iis
1936 J-J 931
98 Jan '12
98
98
Registere
d
Improvement gold 5s
1951
J-D
1028 J -D 97 4-9878 9913 Feb '12 ____ go
9912
Memph Div 1st g 4__1951 J-D 9212 _ _ _ _ 071-2 M
let & refunding 5s
1935 F-A 885 Sale 8852
8878 98 86 90
Registered •
• Rio Cr Juno 1st gu g 53_1939 J
1951 J-D
_
---- ----10434 Mch'll
St
L Sou 1st gu g 4s
1931 M-S 01 ____ 98 J'Iir-'5g
Rio Cr So let gold 4s
1940 J-J
46_--_ 6112 Apr '11
Ind Ill Jo Ia 1st g 4s
Guaranteed
1950 J-J
9'5
1940 J-J ____
051
85
948 -66'Meh'08
Int & Great Nor 1st g 63_191 M- N 108 10834 05 Mch'12
Rio Cr West 1st g 4s___ _1939 J-J
10813 Feb '12
0
108 10312
8512 861-2 8512
86(4
9 -85 - -8858 Iowa Central 1st goill 5s__ _1938 J -D 10112 10212 10112 10112
•
Mtge & col trust 4s A 1949 A-0 ___ 8112
10112
4
10212
80
81
Refunding
10
78 81
gold 43
Utah Cent 1st gu g 4s_a1917 A-0 92 ____
1031 31-S 64 Sale 63
8 63
64
Ms
97 Jan '02
Jamestown Franklin &
Des Mol Un Ry 1st g 5s___•_1917 M-N 99 ____
110 Sep '04 ---- ---- ---- LI Clearfield 1st 9s
Det & Mack 1st lien g 4s
1959 J-D ---- 9434 9414 Mch'12
1995 J -D 9213 95 92 Nov'll
9414.
0412
Wan
City
Sou 1st gold 33 1950 A-0 7314 7358 7334 Mch'12
Gold 4s
1995 J -D 90 02 90 Mch'12
7314 74
ix Registered
90 00
1050 A-0
Dot Riv 'run Oct Ter Tun 4 ;is'61 M-N
03 Oct '00
38 10
34
Ref & impt 58
9934 15 9934 10078
Det T.& 1—OS Div 1st g 431941 31•S --- ----799
Apr 1050 J-J -15:714 Sale 9914
01)14 10014
9938
'12
5
Feb
____
Kansas
75
75
City
Terml 1st 42_1060 J -J
Dul Missabe & Nor gen 5s 1941 J -J 10i1106 10412 Dec '11
9812 Feb '12
9812 9864
1- ake Erie & W 1st g 53_193 J
Dul & Iron Range 1st 5s
Sale 109%
7 -J
5 10812 110
10958
1937 A-0 10614 107 107
-1-4 2(1 gold 5s
107
1 106 107
1941 J-J 10414 105 10444
Registered
1 10414 10414
10414
193,7 A-0 103 ____ 10612 Mch'08 __
North Ohio 1st go g 5s
_
_
1945 A-0 106
2d 66
10512 Mch'12
10512 10512
1916 J -J __
104 Feb '11
Leh Veil NY 1st gu g 4041940 J-J 10514
Dul So Shore & Atl g 5s
10514
56.
5-8 10514
1937 J -J 107 10712 107 Feb '12 __ 107 107
10564 106
Registered
1940 J-J 10413
VIgIn Jot & East 1st g 5s 1941 31-N 11018 112 11034 Feb '12 ___
10412 Oct '11
---Lehigh
1103
Vail
11034
(Pa) cons g 42_2003 M-N
4
.1-0rie 1st consol gold 7s_ _ _ _1920 31-S 11712 118 118 Mch'12
978 Oct '11
---11712 118% Leh V Ter Ry 1st gu g 58 1941 A-0 113 11313 11373
N Y de Erie 1st ext g 4s_ _1947 34-N 10014 -___ 10112J'ne'11
Nov'll
---•
Registered
1041 A-0 11033 113 11118 Dec '11
2d ext gold 5s
1910 31-S 10112 ____ 10414 Mch'12 _ 10414 104
.
12
Leh
V
Coal Co 1st gu g 53 1933 J -J 10714
3d ext gold 4 iis
108
1923 31-S 10212
Nov'09
10212 Mch'12
-10212
Registere
10234
d
1933
J-J
4th ext gold 5s
-1920 A-0 10453 _ 105 Feb '12 __ 105
1st int reduced to 4s
10514
5th ext gold 43
1028 J -1) 97 09 100 Jan '12
1933 J -J
Leh 6: N Y 1st guar g 444_194
5 Ai- S 937 Sale "0378
N Y L E 63 W ist g fd 78_1920 31-S ____ 118 118 Oct '10 ____ 100 100
937k 0373
8
Registere
d
1945
Erie 1st con g 48 prior
M-S
1906 J -J 8812 8914 8812
89
12 8812 00
El 0 & N 1st prof Os
•
Registered
1014 A-0 idi
1996 J -J 85 88 83 Mch'12
Fob
6
3
7
1
0
'10
Gold guar 5s
83 88
1914 A-0 10014 _ _ _ 103
1st consol gen lien g 4s..1996 J -J
7914 Sale 7812
idS" 103
103
7914 73 7778 791.2 Long IslandRegistered
1096 J -J
77 J'ly '11
1st consol gold lis
81931 Q-J 19934 no12 11014 31cIt'12
Penn coil tr g 45
1051 F- A 89323a1e 8938
10984 lugs
8.938
1st consol gold 48
9 gig 8912
81031
tjJ
50-year cony 4s A__1953 A-0 8912 91
05
____
90
9.1
21 8558 91
General gold 48
1038 J -D 99 _ _ 9-h Mch'l2
do
Series B,_1953 A-0 7912 Sale 7918
04
9413
Ferry gold 4;is
1922 31- S on 10012 100 Aug'11
Buff N Y 4 Erie 1st 78_1916 J -D 110 11034 11034 Feb7912 243 7514 7978
Gold 4s
1932 J -D 0118 07
Chic & Erie 1st gold 53_1082 31-N 11258 1133 11334 Mch'12 ____ 10834 11034
9914 Oct '06
12
___
Unified
11214
gold
11338
4s
1949
S
31.03
_ 93
Clev & Mahon Val g 5s_1938 J -J 109 ____ Ill Apr '11 ____
93
4 92 03
Debenture gold 5s
1934 J -D 102 104 10412 Dec '08
Registered
1038 Q-J 103
Guar ref gold 48
1049 M-S - - 9614 0014
963,
• Long Dock consol g 6s__ _1935 A-0 12331 12414 124
4 -di- Wi
z
124
1
124
124
Registere
d
1949
111-S
05 Jan '11
• Coal de Rit 1st cur gu 6s..1922 ,11-N 10434 /07 107 Mch'12
107 107
N Y B &M B lat cong 53 1935 A-0 10512
11014 Nov'06
• Dock & Imp 1st cur 6s....1013 J-J 10i12..__ 10134 Mch'12
N Y & It B 1st g 5s
1,027 NI- S 10378 _ _ 105 Apr '07
N Y & Green L gu g 5s_1946 31-;I‘l 10212 __ 10213 Sep '11 -----------Nor Sh B 1st con ggtt 53.01932 Q- J 10534 16714
10714 Jan '12
NY•
Sus & W 1st ref 58_1937 J -J 10312 104 10312 Nich'19 __ 103 105
10613 ion4
Louislana & Ark 1st g 5s_ _ _1927 If-S - _ _ - 96 9734 Sep
241 gold 4 ;is
'11
1937 P-A 80 ____ 10014 Dec '06
Louisville & NashVtIle—
General gold 5s
1940 F-A 85
881 Feb '12
fi.£312
li
.
8
.
General
gold
6s
1030 J-D 115 116 117 Mch'12
•
Terminal 1st gold 53_1943,11-N 10934 ____ 10812 Dec '11 ___ _____
115% iv:
Gold 55
1937 111-N 112
Mid of N J 1st ext 5s_ _1940 A-0 11112 __ 11012 Oct '11
11112.1an '12
1111311113
,,.„_
Unified gold 48
1940 J-J
90 Sale 9878
Wilk & Ea 1st gu g 53_1942 J -D 100 10012 10012
99
o 0834 goo
10012
2
10014
10212
Registere
d
1040 J-J
9734 Nov'10
Ev & Ind 1st con gug 6s
1926 J -J 106 ___ 110 Aug'11 ___ _ __
Collateral trust gold 5s.,_1931.• DI- N
Evans & T H 1st cons 6s
11018 Mch'12
idol; 1161;
1921 J -3 11218 ____ 11233 Feb '12 ___ 11238 1123E H & Nash 1st g 6s1910 J-I)
s
let general gold Is
li5 11113 Jan '12
1942 A-0 102 ____ 10173 Feb '12____ 10178 10212
11133 111%
L
Cin
&
Lax gold 4 3,
1931 M-N 105 __ _ _ 105 Feb '12
is
Mt Vernon 1st gold 63192
10134 105
_
3 A-0 10734 __ 108 Nov'll __
N 0 & If 1st gold 6s
1030 J -J 121 125 121 Mch'12
Sun Co Branch 1st g 5s 1930 A-0 95 ____
121 121
J'ne'08
N 0 & M 2d gold 6s
1030 J-J 117
Vlorlda E Coast 1st 4 0_1959 J -D _ 9712 95
11712Jan '12
11712 11712
9/12 Mch'12___ 97 995-8
Paducah & Mom div 4s....1046 F- A 0531 ___ 9514 Feb '12
I: ort St U D Co 1st g 4;0_1941 J -J
9514 0514
NI
92
Aug'10 ____ ____
Pensacola Div gold 6s__ _1920 3%-S 10534 10534 hich'11
Ft W & Rio Gr 1st g 4s
1928 J -J ____ 80 811.Jan '12 ..,_ 8112 ___
-St Louts Div 1st gold 6s_1921 AA-S 11314 11358
8112
- 113 Oot '11
Clal H & H of 1882 1st 53_1913 A-0 0912 ____ 0912
901.2
1 9912 9012
2d
gold 38
1980 I'd- S (Ms 73 0984 Mch'12
•-Ageat Northern—
-E58 663;
Atl Knox & Cin Div 4s_ ,1055 31-N
923
9234
0234
92%
4
93
() B & Q coil trust 4S
1921 J-J
9634 Sale 9812
9678 385 96 9858
Atl Knox & Nor 1st g 56_1946 J -D 11234 115 112 Oct. '11
Registered_ h
1921 Q-J _ 07 0012
0612
2 9612 9838
Hinder Bdge 1st s f g 6s_1931 NI- S 105 __ 106 Apr '11
let & refund 4 ;is ser A_.,1061 J. J 101 Sale 10078 10118 39
10034 101%
Kentucky Cent gold 4s_ _1087 J-J
9313 54-38 9418
9415 -6E0418
Registered
L te N de If & If 1st g 4;i51945 If-S 104
10414 Mch'12 __.8 10414 10414
St Paul M & Man 4s
1033 T-7,1 gol4 .
_ _ _ figimcVli ____ gi2 fti12
L 3: N-South If joint 4s_ 1952_
8958
_
8958
J-J
let consol gold 63
8012
8968
1933 J-J 125
12313 12312
1 12512 1251,
Registered
81052 Q-J
_ 05 Feb '05
Registered
1933 J-J -------182 Apr '09 ... —._ ---_
N Fla & S 1st gu g 5s_
_1937 F-A 10034 iifi 10934
15634 10£734
10934
Reduced to gold 401933 J-J 10434 10538 105 Mch'12' -_-___
105 10512
N & C Bdge gen gu g 4 ;is 1945
J 10158.._ -Registered
1933 J-J 10.3 ___ 10834
'09 —
Pens & Atl 1st gu g 6s_1021 F-A 112
-- -,,- 112 mc-h-qi
Mont ext 1st gold 43_1937 J -D 0714 1414 9734 J'ne
112 112
Mch'12
SI
_-_-_
N
Ala
97
13
9814
con
gu r, 5s___1936 F-A 11034 HAI 11018 Mch'12
Ren.I atttregi
1(137 •3-D
11078 11118
98 J'ne'n _
____ L & Jell Bdge Co gu g 4s_ _ _1945
S 9112 ____ 9114310.'12
9114 0114
MISCELLANEOUS BONDS—Continued on Next Page.
March 29.
Week's
Range or
Last Sale
.n
„d;„
eel
-D
.,
7 58- 08.4
.
-- -
---5
07'208.4
11018
111 __
---
Street Railway,
Street Railways.
MInneap St let cons g 5s___1019
10114
10713 Feb '06
United Rys St L let g 45_1934
78 80 78
7912
New'Orl Ry & Lt gen 4;is_1935
012 871s
2
üij
8712
Louis
St
Transit gu 5s__1924 A-0 82 87 85 Jan '12 13 7714 80
N Y Rys 1st R E & ref 45 temp J - J
6 85 85
8058 Sale 8012
8114 369 80 81% United RPts San Fr s f 4s_1927
6634 66
6
A-0
Temporary adj Inc 5s
6612
A-0 543/ Sale 5434
66 70
68
Portland Ry 1st & ref 5s___1930 -N 9914 ---- 99 Feb '12 751 6414 5912 Va By & Pwr 1st& ref 5.,•--1934 J-J
9514 9634 9634 Feb '12
96 9712
99
99
Portland Gen Elec 1st 5s_ _ _1935 ii
and
Gas
Electric Light
St Jos Ry,L,H & P lstg 5s 1937
98 101
98 Nov'08
Atlanta G L Co 1st g 5s_ ___1947 J-D 106 108
St Paul City Cab eons g 53.._1937 J -J 10614
106 Feb '12
10514 106
Bklyn U Gas let con g 53_1945
10717
10134 Itch'12
Third Ave 1st ref 4e ctfs
4
6 12
id6160 4 i643
'Silt; 8412
843/
4
843
88
1
8412 88
Buffalo Gas 1st g
1947 .
Adj Inc 5s interim ()Us
r1-N
-0 _ _ 6.6 6012 Feb '12
76 419 73% 8014 Columbus Gas lst58
7358 Sale 73%
g 53
1932 - J
Tri-City Ry & Lt 1st s f 53_1923 A-0 07%
__
14
93
97
101
7
8
98
976
2
98
Detroit
City
Gas g 58
Underground of London 53_1920 M-N
1923 -J 101 Sale idi
2 10313 101
101
98 Apr '09
Det Gas Co con 1st g 5s
4's
1018 F- A
_ 10034 9568 Sep '08
1938 J
64114 -gi- 9534 0614 16 95 9614 Det
Edison 1st coil tr 5s
Income Os
1933 J -J
_
10112 102
foils 1021
1948
8
ld()
83
86
Sale
216
7412
86
Eq
GLNY 1st con g 53
Union Elec (Chic) let g 5s 1945 ;C-6
1932 31- S 105 16634
- 106 Jan
100 100
84 001 '08
Gas & Elec Berg Co c g 53 1949 J -D 101_ 6112 Oct '12
United Rye by 1st Wen coll
'01
Gr
Rap
G
L
Co
let
*trust 58 Pitts issue
g
53
1915 F-A 100 iid 100 Oct '00
1926 At-N 8012 89 8414 Feb '12
8414 8514 Hudson Co as 1st g 5s_
1049 31-N 10458
10-114 l051
10518 Mch'12
Kan City(Mo)Gas Isle 513_1922 A-0 9834
0033 Jan '12
I)91 0056
!No price Friday; latest bid and aakod this Week, a Duo
Jan. 0 Duo Feb. 4 Duo Anril. 11 Due July.
8 Due Aug. o Due Oot. a Option sale.
fe;f12
MAR. 30 1912.1
BONDS
N'. Y. STOCK EXCHANGE
..,
Week Ending March 29.
899
New York Bond Record-Continued-Page 3
Price
Frktay
March 29
Week's
Range or
Last Sale
•f:Al
50 a
Range
Since
Jan. 1.
• 1
.41
Price
BONDS
Friday
N. Y. STOCK EXCHANGE
4; March 29
Week Ending March 29.
Wcers
Range or
Last Sale
Range
Since
Jan, 1.
11
High No. Low High
Ask Low
Bid
High No. LOW High NYCdo H R--(Con)NYCdoSt L-2 99 0234
Ask Low
Bid
9934
• 1st g 45 Registered____1937 A-0 9934 Sale 9934
•
2 8078 91
88
__
90
/mita RR-Sou lines 43_1936 31.-N
1931 11-N ____ 90 90
Debenture 4s
--16 100 101
"2512 Apr '130
100
100
Sale
100
11-1-exican Cent Inc g 35 tr rects_
J-J
2361
guar
Shore
1st
43
West
7 9734 9812
----9818
98
1917 -A-(5
9838
9778
,• Equip & coil g Is
2361 J-J
Registered
- ---1019 A-0
2d series g 5s
NY Cent Lines eq tr 4 Ms 1923 J-J ____ ___ 10012rly '11
ex Internat 1st con g 43 1977 HS ---- ---- 77 Meh'10
&
New
Haven
FlarttN Y
- - 79 Nov10
1977 MS ---1955 J-J ____ 93 9438Aug'11 Stamped guaranteed
Non-conv deben 4s
129 129
2 -911;
9/19212 10 9212
1927 J -D ____ 12912 129 Feb '12
9218 93
Minn & St L 1st gold 7s
1956 m-N
Non-conv 4s
105 105
931.
5 00 9314
1921 A-0
- - - 11018 Aug'11
9318 Sale 9313
56 J-J
_19
3
Pacific: Ext 1st gold 6s
3.6s___
Cony
debenture
10212
105
13_22
10212
10112
Sale
-12
152
.
1103
_2_0
13112
IM-N
4
1934
1303
Sale
1st consol gold 53
1948 J -J 13084
Cony debenture 6s
5 6112 6978
65 6234
1949 MS Ott
1st and refund gold 4s
Harlem R-Pt Ches 1st 4s1954 M-N 9912 ___ 09 Oct '11
82142 7314 Mch'12
7813 81
93 9358
Mch'l
9838
9338
9314
J-J
Des M do Ft D 1st gu 4s1935 J-J
43_1961
New
1st
Cent
Eng
gu
9734
9714 9734 9734 Mch'12
97
114 115
Mch'I
StP&SSM con g 4s lot gu.1938 J-J _97 98!3 Jan '10
Housatonic It cons g 5s_ _1937 51-N 115 ___ 115
---9912 75 0(318 9912
9912 Sale 9914
MSS13.1 &A 1stg4sintgu_1920 J-J
N YW'ehes&B 1st ser I 4 ;43_1946 J - J
____
- _ _. 9812 Itch'11
1434
.
:72
J-J
Aug'09
1949
107
____
5s
10212
1st
111-N
Central
&
cy
53_1918
Derby cons
N H
Mississippi
---_-1945 J-J 115
New England cons 5s
Missouri Kansas & Texas95 Sale 95
9538 21 95 97
-69-1;
9912 bicifl_
9958
1945 J-J
Consol 45
' 1st gold 4s
8212 18 82 8418
81 8212 8112
4
?
4
-.3
1.
1
May'll
giNS
87
85.
80
,11-N
, 2d gold 45
Providence Senor deb 43_1957
3 101 10212
Sale
10114
12
10114
51-N
10114
0412
1944
9438
M-S 9412 Sale
, 1st ext gold 5s
7812 7878 Mch'12
7478 8112 N Y 0 do W ret 1st g 45_g1992
2004 M-S
1st & refund 43
Registered 55,000 on1y_a1992 54-S 9212 ____ 9314 Oct '11
83312 89 8$12
8 -05;
-/;958834
8812 8014
1936 J-J
81A8 Feb '12
1955 J-D ____
General 4s
‘- Gen sinking fund 4 4,6s 4s..2001
1
84
'1
A-0
Nov
4
783
__ 10212 Jan '12
St Louis Div 1st ref g
3 Nct-f & South 1st gold 5s_1941 111-N 10312
10E373 16E35)3
2. 111
1
-8
10533 Mch'12
12063263:
:
1940 51-N 1.- 55.5g
2
4
1233. 13 1-142
12334
Sale
12334
31-N
1931
83
gold
gcn
West
&
. Dal & Wa 1st gu g 5s
Mort
9012 __ 9012 Mch'12
0013 9012
__ _1990 F-A
'• Kan C do Pao 1st g 4s_
Improvement & ext g 83_1934 F-A 125 12718 124 Sep '11
10912 110
A-0 10958 Sale
10958
6s_1932 A-0 124 128 12312 Oct '11
Mo K do E 1st gu g 59_1942 31-N ___ 107 10958
1st
gold
River
New
12
10712
99
10612
106
106
34. 98
1942
99
N & W Ry 1st cons g 4s 1996 A-0 9834 Sale 9864
, M K & Ok 1st guar 5s 5s_1042
10234 104
- 10312 103 Mch'I2
_ 98 Jan '11
1996 A-0 9634
M K & 'I` of T 1st gu g 5s_1943 J-1) 113
Registered
18- 104 10378 Feb '12
10334 10334
1944 J-J ____ 9314 9358 Mch'12
4s
g
dc
gen
1st
1
Div'l
' Sher Sh & So 1st gu g 5s
10514
_
10378 Mch'12
10378 10514
11034
1943 IM-S
1103. 2143
1932 J-D 11u12 Sale 110
Texas & Okla 1st gu g
10-25-year cony 4s
94
10318
107 10818
5I-N 10818 Sale 108
8 109
93
38 10
10914 10815 109
Missouri Pao 1st cons g 6s_1920
10-20-yr cony 4s full pd rat; ____
100
M-S 9934 100 100
9978 10034
9334 21 92 94
_1941 J-D 93 9334 93
4s_
Trust gdid Is stamped__a1917 5I
C
&
C
Joint
Pocah
38
9612
99 IlIch'10
134 108
19
a1917 -S
J-J 1057,,_ 10638 Mch'12
53_1922
Registered
gold
1'
1st
guar
&
CC
4 1003-4
"56- -Of2 0912
-£7619912
1st collateral gold 5s____ 1920 F-A
Selo V do NE 1st gu g 43_1989 NI-N ___ 9712 9812 Mch'12 57 9958 10034
1920 F-A
993
99343a10 995g
Q-J
Registered
4s1997
••
e
Pao
1
Northern
prior
7514
f65:37514
9
7434 -fE
1945 M-S 7412
- 9858 9912
1997 Q-J ..___ 9918 9834 Mch1
• 40-year gold loan 4s
Registered
_6_9_ :1_0_1_8
697
0 _1938 M-N 9212 943 9618 May'll _
3d 7s extended at 44;4'
General lien gold 3s____a2047 Q-F 6912 Sale 6912
93 8619 -i658
89
1959 5I-S 8834 Sale 88
Q-F 6734 6934 68 Dec '11
a2047
4 1st & ref cony 58
Registered
9114 011 9113
9112 lb 92 92
,
97
9614
Mehl'
__
9614 9614
---J-D
4s_1996
Cent Br By 1st gu g 4s 1919 F-A
St Paul-Duluth Div g
1948 J-D 78 8412 8312 Dec '11
'1
, Cent Br U P 1st g 4s 55_1926 J-J
Dul Short L 1st gu 53_1918 M-S 100'12 __ 99 Feb
102 110 Mch'05
1151311513
11512 --__ 11512 Feb 12
F-A
6s__1923
Leroy &OVAL lst g
N
P
P
&
St
gold
gen
•
-96 971 96
06
8 Aug'11
Pao It of Mo 1st ext g 43_1938 F-A
tes 1923 Q-F 11452 ____ 1153
Registered
id/ - 107
1938 J -3 104 10014 10812 May'll
F-A 109 ___ 107 Jan '1
2d extended gold 5s
St Paul & Duluth
1st 5,1931
certifica
27 105)3 id633
108
A-0 10215 ____ 10234 J-ne II
St', Ir MdcS gen con g 53..1931 A-0 10512 Sale 10612 Sep
1917
2d
Is
'09
4 -62:4
-E3111
Mch'!
4
923
9534
9'234
J-D
Gen con stamp gu g 53_1931 A-0
1968
,
1st consol gold 4s
8 7912 833j
8114
8114 Sale 81
Unified & ref gold 4s_ _1929 J-J
1948 Q-31 8958 ___ 9118 Apr '11
Wash Cent 1st gold 4g
11113
78 80
80 Mch'12
192 J-J
.,___ 11112 1111
11112
Registered
J-J
631933
Pac
Nor
Term
Co
g
1st
84
8212 84
34
121 11917712 28
8612
3
4
92
4•lily & G Dly 1st g 43_193 111-N 8214
Oregon-Wash 1st do ref 4s-.:1961 J-J 9178 9214 9173
'10
10213
Jan
0471
2
9G
;
93
8
14
9
10
2282
M-S
53_1926
g
1st
10352 106 10312 1031.,
Verdi VI & W
4 NI:- pacific Coast Co 1st g 5_l946 J-D 101
ii61101 102
1927 J -D 12014 12034 12034 Mch 12
102 102 Arch'I
fil-N
23
RR
A.
coon
estg43:19
1st
Hob & Ohio new gold 6s
real
11534
Feb '12
18534
115 11638
108 110
1919 M-S ____ 110 110 Mch'I
1st extension gold 63_31927 Q-J 87 88 11534
gold 53
8712
5 8675 8734 Consol
8712
102 104
1938 M-S
1023
General gold 45
.1943 M-N 10334 Sale 10234
Consol gold 45
11618 11034
4 11034 Mch'12
110
9978
M-N 9978 100 9973
1012
e
Montgom Div 1st g 53_1997 F-A 83 1103
3
gold
343__
Convertibl
85 83 Dec '11
3
4s___e1930
g
•
coil
97
973
Cairo
9738
J-D
Sale
1915
&
L
St
Convertible gold 334s 9314 9334 9:112 Mch'11
1931 J-J
9712 Feb '12 ____ 9712 9713
Guaranteed gold 4s
1915 J-D 96
Registered
1031 101
9 10212 104
10388
1931 J - J 103.12 10378 10312 Mch'12
1948 M-N 10318 Sale 103
ikl'ashy Ch & St L 1st
Consol gold 4s
10938 10958
'12
Feb
110
10012
A-0
1028
---7sIs
997
5 Apr 11 ___
gold
10014
31-S
9958
1942
consol
1.1 1st
Alleg Val gen guar g 4s
11578 Nov10
---95g1936 F-A 10012 ---- ---Jasper Branch 1st g 83_1923 J -J 114
R
11
h
gu
R
D
1st
Bgc
10734
4
167.
Mch'12
_1943 M-N ____ 102 102 Mch'12 -_-_-_-_ 1017 102
4s_
MoM M W & Al 1st 6s_1917 J-J 10714-- 10734 J'iy
g
&
W
Balt
lst
Phila
'04
113
__ _191 J-J 10714
T & P Branch 1st
Sod Bay h Sou 1st g 53_1924 J-J __ ___ 102 Jan '03 _
-6658 -621-2
01
01 Sale 0058
6s.
4 s.1957 J-J
97 ---- ------Nat Rys of Hex pr lien
Sunbury & Lewis lat g 4319(16 J-J
101 10112
85 8612
87 8514 Mch'12
Mch'12
Guaranteed general 4s_ 1977 A-0 _____1013s
U NJ lat do Can gen 4s_ _1944 ,11-S 10112 ___ 10112
10318 104
99 100
90 Mch'12
104
1921 J-J 1031004 10312
guar 1st g4 ;is
Nat of Alex prior lien 4,s_1926 J-J _
Co
Penna
80
8031
5
7938
7938
7933
J-J 102 ____ 103 Mch'12 ---- 103 103
1951 A-0 'i!").
1921
1st consol 4s
Registered
31 9214 05
Sale 9214
93
9214
'10
90
Aug
-___
-J
J
8612
11-S
1060
Is
ref
reg_1937
&Chic
1st
(3
Mob
3
Guar kis coil trust
N
____
NO &NE prior lien g 6s_ _p1915 A-0 10413
Guar 3 34s colt trust ser B.1941 F-A ____ 89 88 Feb '12
9712 9734
83 - - 3312 Feb '12
9734
9734
New Orleans Term 1st 4s_1953 J-J
Trust Co certfs gu g 3 34s_1918 M-N 9734
2 8814 8814
88
River
1942 JD 88 90 88
&
Hurl
N Y Central
Guar 3;is trust ctts C
8812
33
Sale
87
8712
87
87
'12
8734 8734
Jan
873.i
8858
1997 J-J
1944 J-D ____
Gold 3 3,69
Guar 3 3is trust ctts D
8612 871. 87 Jan '12
87 87
9734 9813
1007 J-J
1931 A-0 __ 9778 0734 Meir12 Registered
Guar 15-25 year g 4s
9358 Sale' 9312
9334 24 0214 937
'11
Dec
M-N
9812
1934
9634
94
51-N
48
gold
_1942
Debenture
Gin Leb & Nor gu 4s g __
'11
Sep
9234
---31-N
1934
Registered
CI & Mar 1st gu g 4 3is_ _1935 111-N 10312 105 110 Jan '03
23 807 85
33
8234
---1998 F-A 8234 83
Lake Shore coil g 3 5is
CI & P gen gu g 4 345 ser A 1942 J-J 10618 ____ 10734 Dec '11
81
Sale 81
79 84
81
F-A
'09
1098
J'ly
4
1093
____
10618
A-0
Registered
1942
•
Series B
34 79
-o-f171 9114
7934 12 7834 8212
9114 Feb '12
Mich Cent coil gold 3 Ms_1098 P-A 73 80
lot reduced to 334s1942 A-0 9114
78 7912
7773 7834 7818 Mch'12
1998 F-A
Registered
1948 M-N 9114 93 96 Aug'05
.Series C 354s
'10
Dec
0838
____
9113
J-J
1936
4s
g
May'08
90
gu
9114
1st
1950 F-A
Beech Creek
Series D 3348
99 May'91
97
1936 J-J
9012 Apr '1
9138 94
Registered
Erie & Pitts gu g 3 34s B_1940 J-J
1936 J-J 10658 ____
9834 Apr '04
9114 94
1940 J-J
2d guar gold Is
Series C
J-J
1036
Registered
Grit & I exist gu g 4 340_1941 J-J 10014 105 10434 Feb '1
1912 J-J____ 101 101 Feb '12
Ft
1st
7s
W
&
C
Beech Cr Ext 1st g 3 3s_b1951 A-0
Pitts
9713 Apr '00
1912 J-J ____ ____ 10378 Feb 11
2d 7s
Cart de Ad 1st gu g 4s__1981 J-I) 90 ____
31912 A-0 ____ ___ 101 Dec '11
3d 7s
Gouv 6c Oswe 1st gu g 5s_1942 J-D 103 ____
Asc-h-qi
1991 51-S
53_1927 NI-N 10733__ 109 May10
&
Ash
Y
con
Pitts
Moh & Mal 1st gu g 4s
1st
4 idili
1.6134 166- 105 Oct '02
10134 Feb '12
Tol W V & 0 gu 44s A__1931 J-J 10212 _
• NJ Juno It guar 1st 43_ _1986 P-A -E3
-1986 F-A _
,• 9legistered
Series B 4,34s1933 J-J 10212 ____ 100 J'ly 'll
8834 Feb '12
____
8833 885
_
2000 M-N 8858 _
1942 II-S 95
Series C 43
, N Y & Harlem g 3;is
10512Mch'I2
2000 31-N
Registered
•
P C (3 & St L gu 4 Hs A 1940 A-() 10512 10612 18634
4
:
63
60
108 Oct '09
6.1 10
00
16
Jan '12
1942 A-0 106 10612
Y & Northern 1st g 53_1927 A-0 ___ 107
Series B guar
9812 0775 Aug'11
10512 10678 106 J'ne'll
-N
St
1942
'NY & Pu 1st cons gu g 451993 A-0 ._
guar
C
Series
_
Meh'i
99
A-0
99
1916
97
5s
gu
g
1st
M-N
Mont
&
1945
LNor
Series D 45 guar
/I-2 Jan -.55
0318 9312
'12
1932 J-D 12018 ____
,- Pine Creek reg guar Os
Series E 3 J.is guar g_1949 P-A 9334 -_-- 9312 Feb
l071 10734
10718 Mch'12
R W & 0 con 1st ext 5s_h1922 A-0 10634 1E12
1953 J-D 97 ____ 9778 Aug'11
Series F gu 43 g
101 131
99
101 Me1112
09
10,
99
F-A
e1915
Ss.._
g
gu
2d
R
do
1957 11I-N 9833 ---- 99
(. Orme
Series G 4s guar
104 J'ne'10
t• B W & 0 T It 1st gu. g 53_1918 M-N 06 ___ 9814 Mch'12
C St L & P 1st con g 5s 1932 A-0 11012 ____ 11312 Noy'll
4
971•-6S71109 May'll
_
_
104
Q-F
1921
Rutland 1st eon g 4 s,..l941 J-J
do
6s
g
1st
Un
Peo
Pek
84 86
88 84 Feb 12
Og&LCham 1st gu 4s g 1948 J -J 8433
61921 M-N ____ 99 9312 Jan '11
2d gold 4 ;is
92 J'ne'09
_
Rut-Canad 1st gu g 4s_1940 J-J
Pere Marquette-Ref 4s___1955 J-J .__ -- 6734 86 Dec '11
115 J'ne'09
J-J
5s_1906
g
1st
Adlr
&
1955 J-J ____ ____ 6834 Noy'll
Lawr
11013
413
St
Refunding guar
,
1191.
99589963
11012 Mch'12
11$
'1
A-0
1996
9038Feb
1921 J-D __
Ch & W M 5,11
2d gold 63
9978 Nov'11
108
9934 1920 A-0 __ 1081 108 Mch'I2 ____ 108
Flint do P M g Os
Utica & Blk Riv gu g 43_1922 J-J
8814 25 88 897
88
9934100
83
J-D
'1
Feb
_1997
100
9812
As___
____
3
M-N
gold
gold
1939
Is
1st
consol
Shore
Lake
8714 8834
_
12 8834 88 Mch'12
87
11
J-D
1997
Aug'11
98
101
Pt Huron Div 1st g 53_1939 A-0___
Registered
••
0378 48 9384 9438
9358 Sale 9338
---Sag Tus do H 1st gu g 43_1931 F-A __- --- ---Debenture gold 4s_ __ _1928 111-S 9314 Sale 9314
•
9312 56 03 9378
841g 8453
'12
Feb
1931 111-N
8458
8812
__
J-J
1st
at
4s_'37
Ry
30-yr
25-year gold 4s
'•
Philippine
9312 9312
9312 Feb '12
93
-1931 M-N
1940 A-0 113 ___ 11214 Dec '11
Registered
---- Pitts sh & L E 1st g 5s
11314 Ney'll
1943 J-J 11014
Ka A & G It 1st gu c 53.1038 J-J 11112 _ _ _ _
•
1st consol gold Is
f1-2
---ii- 083
61
9
9818
Sale
0818
J-J
1997
4s
g
gen
,." Mahon C'l RR 1st 5s_1934 J-J
Co
eading
-r)
100 Dec '09
9814 9814
9734 ____ 9814 Feb '12
1997 J-J
,4 Pitts & L Erie 2d g Is _a1928 A-0 104 ---- 13018Jan '09
-3-1-4 Registered
97 9812
97
1951 A-0 --- 971 97
• Pitts Mei{ & Y 1st gu (13_1932 J-J 121 1243-4 12314
Jersey Cent coll g 4s
4 12314
INS112314
1934 J-J 120
J-J
g
2d guaranteed Os
1951
43
.
gu
City
Atlan
4 88 8614
86
McKees & 13 V lst g 03_1918 J-J 108
1947 J-J 85 8734 86
at Jo & Gr Isi 1st g 4s
111 111
I 11871l96
1931 31-S 111 115 111 Jan '12
11,11chigan Central Is
Lit L &San Fran gen g 8s 1931 J-J 119 119 11953 11
10712 20 10712 10812
10712
108
1931 Q-M 109 112 119 J'ne'06
Registered
10718
J-J
1931
General gold 5s
88145
8 88
88
8
Noy'll
9834
'12
98
Feb
1940 J-J
8618 9134 8818
9s
•
St L & S F RR cons g 43_1996 J.- J
9812 Noy'll
88,8 23
1940 J-J
Registered
1937 M-N 8818 Sale 88
Gen 15-20 yr Is
90 J'ne'08
'11
Oct
100
____
9812
jL & S 1st gold 3 H3 1951
A-0
Southw Div 1st g 58 1947
-(361-2 8634
42 -7033 8134
80
. 8612 Mch'12
1052 ,11-N 86
let gbid 1 5
5 ale 7958
1951 J-J
Refunding g 48
9034 10 00 0158
34
20-year debenture 43_1929 A-0 -,
61712 90
1951 J-J --------8084 Mch'll
Registered
11 997510058.
9978
9978
Sale
g
,via8
1.1st
7
43_193
&St
A-0
Chic
N V
Page.
MISCELLANEOUS BONDS-Continued on Next
-
iv.
•
Gas and Electric Light
7 A-()
Kings Co El L do P g 5s____193
1997 A-0
Purchase money Os
1022 M-S
65
deb
e
Convertibl
43_1939 J -J
Ed 131 11 I3kn 1st con g
Q-P
Lae Gas Lot st r, ist
1934 A-0
Is
g
1st
Bet and ext
1927 111-N
Milwaukee Gas L 1st 48
1948 J -I)
Newark Con Gas g Is
1948 -D
NYGELII&Pg5s
1949 F-A
Purchase money g 48
1995 J-J
• Ed El Ill 1st cons g 5s 5s_1930 F-A
g
con
NY do Q El L&P 1st
1921
N Y h Rich Gas 1st rc 5s
Pacific G & El Co Cal G & E
M-N
58_1937
Corp unifying & ref
111-S
Pat & Passaic 0 & E 5s__1949
-___ 105 105 Mch'12
117 11712 117 Mch'12
_ 11818 Dec '11
120
8812 Dec '11
10212
1021., Sale 102
10158
10114 10138 10138
00 0958 90 Feb '12
100
10478 Dec '11
104 Sale 10334
10114
8838 Sale 8833
8858
11318 Mch'12
4
I51110212 Mch'12
9212 J'iy '09
96 Sale 0573
100 ____
,. *No price Friday: latest bid and asked.
96
Gas and Electric Light
1943 A-0
. 105 10513 Peo Gas 6t C 1st con g Os
1947 M-S
Refunding gold Is
_ 11512 117
td-S
1947
red
iste
•Reg
J-J
_•Ch G-L & Cke 1st gu g 53_1937
6 J-D
Con G Co or Ch lst gu g 59 193
Rd - iei3 li-N
'36
53
30-yr
Oil
&
Gas
Nat
Ind
•0 101 10158
Mu Fuel Gas 1st gu g 5s 1947 M-N
.. 8973 90
1947 31-N
Registered
ia Co cony 53_1919 F-A
Philadelph
:1 10258 10414
1st g 55_1951 J-D
13 8814 89 Syracuse Lighting
1954 J-J
11212 11318 Syracuse L do P 55
1949 M-S
._ 102 10212 Trenton G as E 1st g 5s
Union Elm L & P 1st g 5s 1932 M-S
_
._
1933 MN
Ref & ext Is
1950 J-J
Utica El L & P 1st g 5s
416 94 96
1957 J-J
... __ __ Utica Gas & E ref 5sg 53
1950 J-D
Westchester Light'g
a Duo Jan. 0 Due Feb.
a Due May
g Due Juno.
h Due July.
--------11712Feb 1 _ _ 117 11711
10178 -1110178 10211
1017 121 10178
103 Feb '09 __ _---_
---- ----1 103 10412
103
103 10378 10358
__
10214 104 102 Nov'll ___
2 93 93
93
____ 93 93
3 1.0058 10114
10114
101 10114 10114
_
-- _10512 -- 109 Feb '12 ___ 107 109
9914 __ 101 Dec '11 ______ __ __
81 J'ne'll __
1o21___:109 Feb '01 _ ____ ____
___ 9812 Sep '11
101
7 98.11
9618 -,4714 9'7 Mch'12L___
_ ____
_
1p312 __
_
ii
_..--7
idiliDe;i
__-_-_
100
1054
105
10518 Sale 10518 10512 15
p Due Nov. a Option sale.
900
BONDSEXCHANG
N. Y. STOCK
E
Week Ending March 29.
New York Bond Record—Concluded—Page 4
I
1
gni
Price
.Priday
March 29.
Week's
Range or
Last Sale
.a
gA
ar
Range
Since
Jan. 1.
[VOL. Lxxxxxv.
BONDS
t.:''
Week's
Price
Range
N. Y. STOCK EXCHANGE .,%1
Friday
Range or 111
Since
Week Ending Brarch 29.
25,a, March 29,
Last Sale
Jan, 1.
--..-Ask Low
Bid
High No. Low High
ATandalla cons g 45 Ser A_1955 F-A 9653 ____ 9653
1 003 9653
9658
v
Conseil 45 Series B___1957 31-N 9512
97 Jan '12
9/ 97
Vera Cruz & P 1st gu 434s_1934 J-J
9112 903-4 93 Nov '11
Ivabash 1st gold 55
1039 /11-N 10713 Salo 10718
10713 17 154-1-2 idis;
2d gold 5s
1939 F-A 99 9934 0914
20 96 100
100
Debenture Series B
1939 J-J ____ 106 93 Apr '11
1st lien equip s Id g 58
1921 M-S 99 ___. 100 Mch'12
951. 103
1st lien 50-yr g term 43....1954 J-J
70 85 83 Dec '10
1st ref and ext g 45
1956 J-J
5812 Sale 571
5812 %Ho 5510 .,853
Det Fe Ch Ext 1st g 5s
1941 J-J 106 __
10612 Mch'12
100 - 107
Des Moin Div 1st g 4s_1939 J-J
79 ___ 8112May'll
Om Div 1st g 33-s
1941 A-0 7012 Sale 7012
6i,I'
7012
, 1012
Tot & Ch Div 1st g 4s
1911 M.,-S
8313Meh'12
8312
Wab Pitts Term 1st g 4s_1954 J-D --------3812
Mch'12
31)
_-,
38
Cent & Old Col Tr Co certfs-- ---- 3812 Sale 373
4
3812 42 3712 424
Columbia Tr Co cas
___
____ ____ 3914
3914
373.1' 4112
Col Tr etts for Cent Tr Ws_
_
-- - - - -2d gold 4s
3954 .1 -b. i fire i- --i2
Trust Co cents
112 214 2
5
214
173 233
Wash Terml 1st gu 33s__1945 F-A 84
6714 8733 Oct '11
1st 40-yr guar 48
9713
1045 F-A
9718
071,
9718 9718
West Maryland lot g 4s__ _1952 A-0 8733 8734 873s
8818 70 875, 8)14
West N Y & Pa 1st g 5s_:_1937 J-J 10134 Sale 10831
10831
10734 10834
Gen gold 45
1943 A-0 871
8 8714 Mch'12
8714 3812
Income 5s
d1943 Nov ---- ----34
_
'07
Wheeling & L E 1st g 5s___1926 A-0 16414 10458 10478 Feb
Meh'12
i6e,165'
Wheel Div 1st gold Os___1928 J-J 10112 10312 10213 Nov '11
Eaten & Imp gold 55_1930 F-A 10112 103 102 J'ne'10
RR 1st consol 4s
1949 M-S 8453 Sale 8412
8458
84 -gE:3;
20-year equip 8 f 5s
1922 J-J 1M3
9812Feb '11
_
Winston-Salem S B 1st 45_1960 J-J
9214 9212 93 Mch'12
9212 1)3
Ms Cent 50-yr 1st gen 4s_1049 J-J
93 Sale 93
9318
0211i, 9333
1st & refunding 43
1959 A-O
Billy & L Winnebago 0_1912 J-J ----,-r.
-Sup &Dui dly & term 1st 43'36 M-N __-_ -9238
--- 9233
9233
11158 -6i);
St L & San Fran (Con)
/31d
Ask Low
High No. Low High
K 0 Ft S & M con g 63_1928 M-N 117 117% 11714 Meh'll
117 118
K C Ft S & M By ref g 4s_19341 A-O 80 Sale 80
8014 40 80 8012
Registe-red
1936 A-0 __
79 Sep '10 ---_ ______
K C &1.2 R & B 1st gu 58_1929 A-0 08 ____ 10014 Dec '09 -- ____ _.
Ozark & Ch C 1st gu 5s g_1913 A-0 907 10013 9973
0978
3 9914 100
St L S W 1st g 45 bd etfs 1989 51-N 9112 9213 9158
9214
8 91 9212
2d g 48 Inc band etts____p1989 J -J
81 8212 8178 Meh'12 ___. 8034 82
Consol gold 48
1932 J-D 8112 Sale 8112
8178 79 79 82
Gray's Pt Ter 1st go g 5s_1047 J -D 9734
10118 Apr '07
9 A & A Pass 1st gu g 4s
1943 J-J
8613 87 8612
0 -8614 -8734
S F & N P 1st sink f g 5s 1919 J-J 99 ____ 104 Oct8612
'09
Seaboard Air Line g 4s
1950 A-0 ____
Dec
8734
'11
Gold 4s stamped
1050 A-0 8753 Sale 8712
873
4
ii
-8712
90
Registered
1050 A-0
Adjustment 5s
01949 F-A 8013 . ittJ • 76
8614 iii; 76 8414
Refunding 45
1059 A-0 81
82 8112
82
12 81 83
Ati-Birm 30-yr 1st g 48_61933 51-S 8813 89 89 -Meh'12
....„ 88 90
Car Cent 1st con g 4s__ _19,14) .1-.1
9312 03 9234 Mch'12 --- 9234 9234
Fla Cen & Pen 1st g 52
1918 J-J 1017,3 ____ 103 May'll ---- ,.___ ____
1st land gr ext g 5s
1930 J -J 103
_
____ ---Consol gold 5s
1943 J-J 107
, Apr '11 _...,
10514
Ga & Ala By 1st con 58_01945 J-J 10612
10634
10634
1 10653 I
.0714
Ga Car & No 1st gu g 5s_1029 J-J 10534 10718 10534 Feb
'12 ---- 10512 10534
Scab & Boa 1st 5s
1026 J-J 106
10613 Feb '12 ---- 10613 10613
Southern Pacific Co—
Gold 48 (Cent Pac coil) _k1049 J-D 92 Sale 92
92
2 9134 9212
'Registered
k1949 J-D 89 9114 9112Nov'11 ---_ _
20-year cony 4s
01921 M-S 9614 Sale 0613
9614 293 9E34 97
Cent Pac 1st ref gu g 4s__1949 F-A 9614 Sale 903
9613 24 0813 97
Registered
1949 F-A 9613 1)618 97 Feb '10 --_
Mort guar gold 3 548__k1929 J-D 9034 9114 91 Mch'12 85 _
fifj)2 61-12
Through St List gu 45_1954 A-0 =___ 921. 9273 Feb '12
G IIh S A Id & P 1st 58_1931 M-N 10612 1067 107 Mch'12 ---- 9278 927
Glla V G & N 1st gu g 58_1924 M-N 104 ____ 10434 Feo '12 ---- 10634 107
10434 10134
Haus E & W T 1st g 5s 1933 M-N 10414 10514 10413 Jan '12 ---__-_ 10418 10418
1st guar 55 red
1933 M-N 10414 10514 10414 Feb '-------1041
H & T C 1st g AS int IN _ _ 1937 J -J 109 10934 110 NIch'f2 --- 110 4 10414
110
Manufacturing and Industrial
Consol g Os lot guar_1912 A-0 ___ 11013 107123ep '11 -_
Gen gold 4s int givar_ _1921 A-0 94 ____ 9514 Meh'12 ---- -1151-4 - E14
Allis-Chalmers 1st 5s
6413 Sale 6314
1936 J-J
65 634 52 65
Waco4& N IV dist 1st g es '30 M-N 11,112 118 119141%101'10
Am Ag Chern 1st e 53
1928 A-0 10214 Sale 10213
10238
A & N W 1st go g 5s
1941 .1-J 107 1073: 10712 Feb '12 -- 10712 1071 Am Cot Oil ext
4
2
s
1915
Q-1
93
,
Sale 08
98
71
6 14018
Morgan's La & T 1st 7s 1918 A-0 11234 ____ 112125ep '11 —_ ____ _
13419
08
1'1121
Debenture
Is
1931 M-N 9434 Sale 0434
95
11 0412 951-,
1st gold 6s
1920 J-J 1101 ___ Ill Meh'l -- _— — _ Am Hide & L 1st s f g 68_1919
M-S 9912 01)34 993.1
26
2
9
4:
18
9
9.
:
N Y Tex &Mgu 4s g _ _ _1912 A-0 -----------------,3i 1:
02
0612
9
93
4
_ -. ______ Amer Ice Secur deb g es
7712
79
A-0
1925
7712
Mch'12
No of Cal guar g 5s
1938 A-0 __ 11458 112 Feb '07
Am Smelt Securities s f Cs_ _1926 F-A 10414 Sale 10353 10414 iiiL
Ore & Cal 1st guar g 5s 1927 J -J ICi1,14 ____ 103 J'iy '11 ---- _______ Am
1.07221!107714
Spirits Mfg 1st g es__1915 III-S ___ 101 10012 10012
So Pao of Cal—es E
1_ 101801: 12
013
1912 A-0
10018 Fob '12 --_. j,061; 10018 Am Thread 1st Co'
tr
4s
1910
J-J
9312 9334 9234 Feo '12
1st gold 13s F
9258 9314
-------1012 A-0 -_,
__. 11412 Dec '04 --- __
Am
Tobacco 40-yr g Os_
1944 A-0 12033 Sale 12038
1st con guar g 58
-ii
2
i
:
12012
5
1713
10
18
2
1
7
3
19
1937 51-N 11034 -___ 116 May'07 ----- -Registered
1944 A-0 ____ ___ 12014 Feb '12
So Pac Coast 1st gu 4s g_1937 J -J
7, 1 1 s
9112.
90 J'iy '09
Certificates of deposit
. 12112 12058Mch'12
San Fran Terrill 1st 413_1950 A-0 9014 91- 9113 Mch'13 --_
-61
-52
Gold
43
1951 F-A
951 Sale 9514
Tex & N 0 Sab Div 1st g es'12 M-S 10013.... 10034Mch'12 ---- 10034 1003
9538
Registered
4
1C151 F-A ---- ----05 Feb '12
Con gold 55
1943 J-J ____ 105 10153 May'll -,—
Certificates of deposit
9514 Meh'12
So Pac RR 1st ref 45
1955 J-J
95 Sale 9473
'3513 113 9434 9538
P
Lorillard Co 7s tem'pry bds ___ _ 1215Southern 1st consol g es
8 Sale 12053 12178
1904 J -J 10734 Sale 10734
10773 39 10712 10838
5s temporary bonds
__
9533 Sale 9434
Reglstered
:
15
2:5
°- 0
0512:
992
1173
18
4 9
096
05'58
8
1094 J-J
105 Sep '11
LIgg & Myers Tob Co7s tpy bds ____ 14053 Sale 12012
12078 74 1118
Develop & gen 45 Ser /1_1956 A-0 7914 Sale 7913
9::123
334
7833 133 igi,t 7912
5s
temporary bonds
9412
Salo
94
9512
Mob,& Ohio coll tr g 43_1918 M-S 87 8734 67
37
10 8513 8712 Am IVritg Paper 1st s t 51919 J-J
Sale
88
8812
3
4
84)
15
Bern Div 1st g 4 54-5s
8814
8953
1906 J-J 10918
- 111 Feb '12 ---, 10814 111
Baldw Loco Works 1st 5s__1940 M-N 10334 ____ 104 Feb '12
.
2is3; 10
St Louis div 1st g 4/1_1951 J-J
0065
1311,2
412
21 10
,93
9014 _9114 9014
9014
Beth Steel 1st ext s f 5s___1920 J-J
3 8853
9334 Sale 9353
93%
Ala Cen R 1st g 8s
1918 J-J 10734 10834 10773 Nov'1U ---- ____ _9014 Cent Leather 20
-year g 5s__1025 A-0 95 0_4,, 9514
9,-,3,
Atl & Daily 1st g 4s__1048 J-J
8712 8973 0012 Noy'll ---- _
_ _ _ Consol Tobacco g 4s
1051
F-A
__
- 9334- 9512 Meh'12 7- - 0134 908
2d 48
-J1
1948 J
Registered
14 1-3i14
' ---- g2.
1951 F-A -------67 Nov'07
Atl & Yad 1st g guar 4s 1949 A-0 85 80-- ----------___ -___ Corn Prod Ref 51 g 5s
1031 41-N 0614 Sale 064
0614
Col & Greenv 1st 68
1916 J-J 10534
---„
o8
I
1st 25-year s f Os
i
3
4
De
1934
n-N ____ ows 0633 '
E T Va & Ga Div g 5s
3 8
1930 J-J 10773
_ 10734
3 10734 10314 Cuban-Amer Sugar coil 631918
10814
97
Con 1st gold' 55
1936 M-N 11034 ii1-17 111 Mehl:: —, 11034 11158 Distil Sec Cor cony 1st gtr5s_1927 A-0 97 Sale 97
A-0 75 Sale 743
-'
0
1- 2
72 3
7534 1
-7
05963
01
13
55
13
4-4 1-7
5
960.6
8
9
14
1
E Ten reor lien g 53
1938 111-S 106 Sale 1053k
E I du Pont Powder 4)48 1938 J-I) 9134 Sale 90 4
106
5 10534 106
Ga Midland 1st 3s
9134 206 8478 9212
1946 A-0 66 72 67 Dec '11 ---Gen Electric deb g 3)s__1942 F-A
_
83
Meh'12
Ga Pac Ily 1st g 6s
-._
82
83
11253
1922 J-J
11273 Mch'12
ii-53iii8
10-yr g deb 55
7
7
;
1917
J-1)
---159
---Feb
'12
Knox & Ohio 1st g 88_1925 J-J 114 1102 114
114
Gen'i Motors 1st lien 6s._ .1015 A-0 100 Sale
6 /1.5 115
10014 _... 981310073
Mob & Bir prior lien g 5s_1945 J -J 10418 ____ 10512 Nov'10 --.
100
_ ___ _ _ III Steel non-cony deb 5s_1913 A-0 __
101 J'ne'00
Mortgage gold 43
1945 J-J
7673 ___ 78 Dec '11 -- ___.
Ingersoll-Ra
nd 1st g 5s___q1935 J-J
90
95
Rich & Dan con g 8s
191 5 J-J 10134 .__. 10434
10434
3 10412 104-3-4 Int Paper Co 1st con g 6s 1918 F-A 10353 104 - 10413 J'ne'07
10.118
2 10112 10434
Deb 55 stamped
1927 A-0 10412 104 11,1ch'12 ---- 101 104
Consol cony s f g Os
1935 J-J
8814 91
83
Rich & Meek 1st g 4s___,,1948 3I-N 7253 __
7 8413 9134
8814
71 Meli'll
Int St Pump 1st s t 58
9234 31 9134 9312
So Car & Ga 1st g 5s
1929 ‘
1,1-S 9234 Sale 9214
1919 111-N 10313 1033-4 10314
10314
Lackaw Steel 1st g Is
10314
3
104
1923 A-0 0412 Sale 0412
9514 11 11412 97
Virginia Mid ser C Os
1916 /11-S 105 _ __ 112 Oct '06 ---- __ ____
1st con Os Series A
1950 11-S 7715 78 78 Mch'12 ---- 77 8212
Series D 4-58
1921 M-S 10334 - -_ _ _ 10414 J'ne'11 --_
5-year convertible 5s
1915 111-S 9014 9138 91 Mch'12
9234
•
Series E 5s
91
1928 /11-S 10613 10758 106 Meh'll ---Nat Enam & Stpg 1st 5s
1929 J-D 94 Sale 94
0334 94
94
Series F 53
1931 111-S 10513_ _ 105 J'ne'10
N Y Air Brake 1st cony Os 1928 11-N 98 99 9813
9812
07 100
•
General 58
1936 M-N 10814 Safe 10814
(3 108 115814 By Steel Spgs 1st s t 5s
10814
1921
J
-J
9'712 Sale 9712
5 0712 9814
9712
Va & So'w't 1st gu 55_2003 J -J 103 110 10812J'Iy '11 ---Repub I & S 1stikeol tr 5s 1934 A-0 10273 ____ 1027
Aug '11
1st cons 50-year 5s_1058 A-0 9714 9758 9753
9753
10-30-year 58 s 1
5 0312 973
1040 A-0 9033 91
9034
35 9Os4 9338
01
W 0 a W 1st cy gu 48_1024 F-A 91 ____ 90 Meh'll ---- 90 90 -4 Standard Milling
1st
5s
1030
11-N
____ 38 83
4 8773 8834
88
West N C 1st con g 68._1914 J-J 1034 __ 10314 Mch'12 ---- 10314 10312 l'he Texas Co cony
deb 63_ _1931 J -5 08 9312 93
Spokane Internat 1st g 5s 11155 J-J 10012 10214 10212 Apr '11 -9814 26 0412 90
Union Bag & Paper 1st 5s 1930 J-J
9434 908 9412
9412 12 04
9412
r ler A of St L 1st g 4 Ms 1939 A-0 1047 ____ 105 Mch'12 .--- 13)5 105
Stamped
1930
_
_
__._ 9712 0412 Mch'12 _-__ 9412 9412
1st con gold 5s__ _1804-1944 ,
--11214Feb '12 __-- 11214 11214 17 S Leath Co s I deb g Os...
1 -A ---- ,,.
1913 ,11--N 101 10138 10133 Mch'12
10
138
102
Gen refunds I g 48
9431953 J-J
4 Sale 9434
95
U S Realty & I cony deb g 5s_'24 J-J
24 9413 96
89 Sale 8873
8912 24 8712 90
St L Al Bge Ter gu g 5s1030 A-0 10618 ____ 10812 Feb '11 ____ __
_ II S Red & Refg 1st g Os.., _1O31 J-J
___ 50 70 Apr '11
Tex & Pae 1st gold 5s
2000 J-D 10912 Sale 10912
10934
5 10912 I1.61,, U S Rubber 10-yr coil tr 6s_1918 J-D
35 10334 105
10-138 Sale 10433
1045s
2d gold Inc 55
50 59 50 Mch 12__-- 50 50
q9000 Mch
Registered
1918 J -D
10313Jan '10
La Div II L 1st g 5s
1931 J -J 100 ____ 9912Apr 'II _-__ ___ -_ II S Steel Corp—Jcou
p ___d1963 If-N 1023-10:3
10234
W Min W & N W 1st gu 5s_'30 F-A_ 10612Nov'04
fat;
S 1 10-60-yr 5s1reg
d1963 51-N --- ----- -10234
103
1 10158 104
1935 J-J 155 ii5515 tows
Tol & 0 C 1st g 5s
10918 1 i6g18 i6612 Va-Car Chem 1st 15-yr 55..1923
J-D 1001; Sale 10013
10014 37 100 101
Western Div 1st g 5s
1935 A-0 10812 10858 112 Sep '09 ____
West Electric 1st Si Dee 1922 J-J 10212 Sale 10212
103
244 10213 10318
General gold Os
1935 J -D 103 10111 10312
10312
1 103 104
Westinghouse E & II s 1 5s_1931 J -J
9473 Sale 9433
9479 161 93 95
Kan & III 1st gu g 4s
1990 A-0 9134 .,_
913411ch'12 __.: 9134 9212
10-year coil tr notes 5s....1017 .1-0 9612 08 0612 Feb '12 - 612 9712
2d 20-year 6s
1927 J -J
9814 983
981,
.
4 9804
9
8
'
3
4
1
9918
Tol P .3:: W lit gold 43
1917 J- J
9418 Sale 9413
9418
2 9314 Nis
Telegraph 6c Telephone
Tol St L & W or llen g 3)48_1925 J -J
8614 87
86 Mch'12 ____ 86 8712 Am Telep lt Tel coil tr 4s_1929 J-J
Sale
00
3
4
9078
91
64 90 9113
60-year gold 4s
1950 A-0 6312 6418 6312
6312
8 63 6958
Convertible 43
1936 111-S 11534 Sale 11534 11614 108 10879110
Coil tr 45 g Ser A
1917 F-A _ __ 75 75 Nov'll
Chicago Telephone 1st
J-D -- --,- -,,,Tor Ham & Buff 1st g 4s_01946 J-D 8973
-,z.
- ____ 8934 Mch 12 __ 8912 9312 Commercial Cable 1st g5s_1023
4s_2397
Q-J
21 Sate "T
2 S2l 8212
8212
illster & Del 1st con g 5s_1928 J -D 106 ____ 106 Feb '12 __ 10573 106
Registered
2397 Q-.1
8312Nov'll
U 1st refund g 4s
1952 A-0 8512 -__ 8512 Dee
'11__ Keystone Telephone 1st 5s_l U35 J-J ------8314 82 Feb '12
8
Union Pacific—
82 82
Metropol
Tel
&
10314
Tel
10214
1st
103
a
t
5s 1018 111-N
Feb '12
103 103
RR & land grant gold 43_1947 J-J 101 Sale 10034 101
121 10033 101
Mich State Telco 1st 5s
10014 10034 10038 101
1924
F-A
100
101
7
Registered
1047 J -J 100
. 10013
10013
6 9912 10178 NY &NJ Telephone 5s g_1020 1A-N 102 _... 10314
20-year cony 43
1977 J-J 10333 Sale 10273
10312 226 10112 10358 N Y Telco 1st & gen s 1 4 Bis 1939 M-N 10013 Sale 10013 May'll
10012 96 1-661; 10073
1st & ref 48
g2003 It-S 9713 Sale 97
9738- 39 97 0778 Pac Tel & Tel 1st Si
1937 J-3 10014 Sale 10013
100.38 56
878 10012
Ore By & Nay con g 4s_1946 J-D 0533 Sale 9133
9534 36 9514 961s West Union col tr cur 5s
1033 J -J - — 10173 10273 Mch'12
101 10312
Ore Short Line 1st g 6s__1922 F-A 11253 11318 11234 11234
3 11234 11334
and
Fd
real
est
g
Sale
4
0913
34s
9104
1050 111-N 9913
i 0714 10012
1st consol g 5s
1946 J-J 111 11114 11014
11114 15 11014 112
Cony 4s, series A
1936 51-N___ 105 105 Feb '12
10458 105
Guar refund 45
1929 J-D 9438 Sale 9453
9478 11 9373 953
Registered
1936 51-5 _------- 103 Feb '11._.
Utah & Nor gold 5s
---1926 J-J 10513 ____ 103 May'll ____ _ ___ __4
But
Tel
Un
gu
ext
5s
1941 111-N 10133 ___ 104 J'ne'll
lot extended 45
1933 5-1
---__
__
Northwest 'Pe' nu 4 14.: n_1934 J -J
95 ___- 103 J'iv '04
MIS‘ELLANEOUS BONDS—Concluded
---
Coal Ec Iron
Miscellaneous
Buff & Susq Iron s 1 5s____1932 J-D 97 ___ 97 Feb '11 ____ __ ____ Adams Ex
coil tr g 45
1948 M-S 87 Sale 87
4 86 13.3h
87
Debenture Os
01926 M-S 88 ____ 91 Nov'll
Armour
Co 1st real est 4 As'39 J-D 92 Sale 9134
&
9213 86 915a 921f
'Jot F & I Co gen s 1 g 58----1943 F-A 100._ __ 100 Mch'12 ___ 100 1003,
Bush Terminal 1st 4s
1952 A-0 ____ 8912 8914 7stch'12 .... 894 92
Col Fuel gen es
1919 MrN 10734
1073.1 Jan '12
10734 10734
Consol 5s
1955 J- J - .. 98 03 FeO '12 --- 98 99
:301 Indus 1st & coil 5s gu__1934 F-A 74 Sale 74
74
721 '7
Chino Copper lot cony 63_1921 J-J 125
47 116
125
jons Ind Coal Me 1st 5s---1935 J-D __
85 J'ne'll ----____
--- ----Comstock 'Tunnel Inc 43_2919 _ - ___ Sale 12212 J'ne'll ___ __ 126
___
_ _ le
:Ions Coal of Mil 1st & ref 5s 1950 J-D ___
9312 94 Dec '11 ____ _____ Irrigation Wks & Dot A 4-14s '43 M--N ___-_ -92
9318 Nov'11
Gr lily Coal & C 1st g es_81919 A-0 961-2 ____ 10253 Apr '06
Marine
Mercan
Int
4
34s
1922 A-0 70 Sale 6753
70 1189 6612 76
Kan & H C & 0 1st s 1 g 53_1951 J-J
98 Sale 08
98
2
98
08
Int Navigation 1st s 1 5s
1929 F-A 8214 Sale 8012
8214 39 '7934 8214
Pocah Con Collier 1st s f 5s1957 J-J
2 8112 8834 mgo Bond (N Y) ser 2-4s-1986 A-0 ____
8814 8813 8814
8814
83 89 Apr '11 ....--- --St L Rock Mt & P 1st 55—_1955 J-J
81
81 Sale 8014
5 7934 81
Morris & Co 1st 51 4 Iis
1939 J-J
8912 9012 9112Noy'll
Penn Coal gen Os
1951 J-J 103 10378 10312 Mch'12 ____ 10218 10312 N y Dock 50-yr 1st g 4s___1951
F-A 81
87 8512 Mch'12 .... iii )38-11
Birm DIRT 1st consol 68_1917 J-J 104 105 101 Mch'12 ___ 101 1041:
. Nilo Falls Pow 1st 55
1932 J -J 10012 ____ 102 Apr '11
__ ___.
Tenn Div 1st g Os
a1917 A-0 104 106 104
104
1 103 104
Refunding & gen 65____a1932 A-0
_..- ------- ------ ---•
Call C M Co 1st gu g 6s_1922 J-D -___ 110 110 Jan '09 __ -__ Ontario Transmission 5s___1945 /41-N ____ -95
gtah Fuel 1st g 5s
1931M-S-- ----- ------.... Pub Serv Corp N J gen 5s__1959 A-0 9414 Sale 94
15,114 55 iiiis -al,
Actor Fuel 1st s f 5s
1953 J-J
88 8714 Ma-y'll
St Jos Stk Yds g 4
-----10 12510e '05 ____ _____
1930 J -J
iht
_ Iron Coal & Coke ist g 551949 M-S 95 96
902 13 96 9812 Wash Water Pow As
96
131 5s
1930 J-J .10313 __. 103 Meh'12
1027;103
'No price Friday; latest bid and asked aDue Jan dDue April eDue Slay gDuc June
/Wu° July kDue Aug oDue Oct p Due Nov gDue Dec sOptlen sale
Yearly
CHICAGO STOC:C EXCHANGE-Stock Record-Daily, Weekly and
STOCKS-111017E37' AND LOWEST SALE PRICES.
Priddy
Wednesday Thursday
Tuesday
Saturday
Monday
Mch. 29
Mch, 28
Mch. 27
Mch. 26
Mei. 25
Melt 23
Sales
of the
Weet
Shares
STOCKS
CHICAGO STOCK
EXCHANGE
Railroads
100
Chicago City Ry
Last Sale 190 Apr'll
170 190 *170 190 *170 190
Chicago & Oak Park_100
Jan'12
Last Sale 18
*12 1
*12 1
*12 2
prof
1)0
100
Jan'12
1
Sale
Last
2
*__-2
*__
3
*2
Chicago Elev Rys com__ _
Last Sale 33 Mch'12
__ _-- -_
35
*32
Do pref
---200
94
*91
94
*9.1
92 -9-2
93
*90
part
ctf
Chic Rys
"1"
Lad Sale 9612 DIch'19
*95 1-00
*95 100
*95 100
571 Cnio Rya part ctf "2"
3512 357s
3512 36
*3412 36
*3412 3(3
30
*35
153 Ohio Rys part ctf "3"_
*812 9
9
9
9
9
Rys
ctf
part
"4"__ _
30 Chic
514
514 *5
514 *5
614 *5
*6
5
5
100
Chioago Subway
Dec'll
Last Sale 38
By
City
&
Kansas
Lt_100
Ile:f12
Last Sale 19
-2-0-1-2 ;15" -2-6" ;1.5 -2-6- ;15" 16
100
. Do pre!
51
*50
51
*50
52
*50
52
*50
50
*50 -- 50
485 Streets W Stable C L_100
612 612
612
6
*614 7
612 614
778 *6.34 7
*7
100
Do prof
50
---- -35
35
36
3(3
*3512 37
37
37 *35
*35
Miscellaneous
100
American Can
2134 2214 2012 2134 2013 2034 4,295
2172 23
22
1812 1912 20
100
Do prof
102 10334 10234 10312 1,180
10534 10612 101 105
_100
10238 10334 105 103
Radiator_
American
46
--__
.......
400
•335
__ 335 335 *325 ____ ,
100
pref
*325 -_-_ *325
Do
Last Sale 130 Feb'12
_ _ *130
*131
Amer Shipbuilding..._100
- - *130 1-3-5 *130
48
*47
48
47 -4-7- *47 -48- *47
50
100
prof
*47 -4)1 *17
Do
35
104
*103
101
104 104 *10212 104 *103
103 103 *103 MI
75 Amer Telep & Teleg
14855 14833 ---- -*14712 148 *14813 1491: 14834 14873 *14812 149
Booth Fisheries corn
408
47
47
4758
4712
4712
4612 4612 4612 461; 46
Voting trust ctf
Last Sale 432 Feb'12
Do pref
717
8312 8312
84
8412 *83
8412 81
82
83
2 82
-8072 -8-01Cal & Chic Canal ec D.100
Feb'12
50
Sale
Last
50
*48
50
*48
50
50 *48
*48
Chic Brew'g dc Malt'g__
Mch'12
Last Sale 1
118
113 *1
118 *1
118 *1
*1
Do prof
Last Sale 612 Noy'll
8
*6
8
*6
8
*6
8
*6
1,888 Chic Pneumatic Tool_100
4934
51
50
50
5014
4712
4712
4612
47
*46
Chicago
Telephone__ _100
111ch'H
145
Sale
Last
45 Chicago Title &Trust.100
19312 19312 *192 194 *192 194
*15O- 16.1- 193 193 *191 193
232 Comznonw'th-Edison_100
146
146
14612
14612
146
14612
197
147
14534 140
113 140
300 Corn Prod Ref Co corn._ _
1514 1514 ---- ---T
1558 1534 1578 16
1334 14
do
pref
Do
Jan'lt
Last Sale 78
- ---- ---- ---- ---- ---100
184 Diamond Match
lit
*no
3
5
no
mi
110
11014
no
no
135 no
15,-J; 110
&
pt..
Ma=
Shaffner
Hart
178
10
10114
101. 101
101 101
114
*10014 10012 10012 10013 10012 101
100
614 Illinois Brick
62
62
6212
6212
6212
6212
6212
6212
*62
6218
Internat
Co___
Harvester
445
115
115
---11534
1/2
115 115
Masonic Temple
Last Sale 50-- Aug'11
*47 -50
50
*47
50
*47
*47
50
505 McCrum-Howell Co._i00
314
3
314 314
338
3
3
3
*212 312
278 3
Do prof
1,217
20
1914
20
1978
1912
18
18
16
1412 1512
17
14
100
National Biscuit
Last Sale 153 Mcli'12
*150 1175 *15112 15212 *150 151 *150 151
160
Do prof
Alch'12
129
129
Sale
Last
*127
129
*127
130
*128
*127 129
100
Carbon
National
110
105
105
107
*105
107
*105
107
107 107 *105 107 *105
100
Do pref
50
11612 11612 *11612 11738 *11612 11732 *11613 118 *11612 118
*11612 118
492 People's Gas L&Coke_100
109
108
108
10734
10712
10758
10734
10712
10758
10712
10711 10738
_100
coin_
Sears-Roebuck
6,237
155
15512
15412
15612
15614
15534
15312 15514
15312 154
15334 154
100
Do pref
70
12314 12314 12314 12314
*12214 123 *12212 123 *12212 123
100
10614 10734 10512 10658 foii3 1-661-2 5,033 Swift & Co
103 109
102 10218 10218 103
100
Co
Oats
Quaker
The
50
275275
275
275
260 270
*250 255 *050 255
100
Do pref
127
109 169
10813 10812 108 10834 10812 10812 109 109
109 109
Unit Box Bd & P Co_100
1,377
-,..,..-:-,,.
8
7
8
7
8
7
7s
78
78
78
34
.34
34
Steel cons_
6838 6918 6714 6858 0743 -6704 3,760 United States
6813 69
6734 6808 6912 70
100
Western Stone
Last Sale 13 Dfch'12
14
*12
14
*12
14
*1212 1412 *12
*170 190
*12 1
2
*---35
*32
*90
93
*95 100
3(3
*35
*812 912
514
*5
InletPeriod
Price
Friday
March 29
Week's
Range or
Last Sate
Highest.
Lowest.
18 Jan 29
18Jan 29
1 Jan 29
1 Jan 29
32 Mehl° 33 Jan 22
91 Jan 5 9334 Jan 20
96 Mch 5 10433 Jan 13
3318 Mch 9 38 Jan 9
9 Meh 22 11 Jan 12
678 Jan 13
412 Mch 11
Mch 11
Jan 4
Mch 28
Jan 30
2012 Jan 4
5O1 Jan 19
8 Feb 28
38 Jan 2
1112 Jan 2
91 Feb 1
325 Feb 1
131 Jan 15
47 Mch 1,0
100 Feb ()
139 Jan 11
39 Mch 14
4312 Feb 28
77 Me1114
49 Feb
1 Mchll
23 Mch2(5
10612 Mch26
335 Mch26
133 Feb 6
50)4 Jan 16
10418 Jan 18
14878 Mch i7
48 Jan 9
50 Jan 9
88 Jan 15
50 Feb 26
1 Mch 11
19
50
6
35
44 Mch 15 51 Mch 27
13712 Jan 4 145 Mch 9
184 Jan 4 19814 Jan 9
13514 Jan 4 150 Mch 7
10 Feb 13 16 Itch 27
106 Jan 2 11134 Feb 5
10033 Mch 22 10213 Mch 8
56 Jan 9 6312 lath 4
106 Feb 19 117 Mch13
2 Mch 15
11 aich 15
14313 Jan 15
126 Jan 15
103 Mch 5
115 Feb 16
1031 Jan 2
140 Jan 5
22112 Jan 11
9834 Jan 2
215 Jan 15
10513 Jan 2
38 Mch 12
5853 Feb 13
10 Jan 17
4012 Jan 4
92 Jan 6
154 Mch 22
129 Mch 9
112 Jan 3
120 Jan 2
109 Mch 29
160 Mch 4
12414 Feb 8
109 Mch 26
275 Mch 27
110 Jan 15
178 Jan 18
70 Mch25
1478 Feb 7
Range. for 1-'7cv1ou3
Yeas 1911.
Lowest.
Itignest.
185 Jan 190 Apr
112 J'ne
112 J'ne
6 M cti
3 J'ne
32 Dec
21 J'ly
94 Nov
85 J'ly
80 Apr 101 Aug
2034 May 3773 Dec
1212 Aug
8 May
713 Awz
412 Mch
6 Mch
14 Nov
25 Feb
15 Sep
7212 Feb
39 Sep
1314 Feb
7 Dec
50 Jan
38 Nov
9 Jan
7673 Jan
265 Jan
1261, Mch
48 - Nor
10613 Sep
13153 Aua
35 Apr
38 J'ne
60 Sep
4912 Apr
1 J'ly
312 Mch
3912 Sep
115 Jan
15112 Jan
113 Jan
934 Oct
78 Jan
9213 Feb
100 Sep
4978 Sep
99(4 Sep
47 Jan
3812 Nov
90 Oct
11714 Jan
123 Jan
100 Aug
117 Sep
101 Sep
12334 Sep
116 Sep
9734 Sep
105 Alch
10213 Feb
1 Dec
5013 Oct
13 Dec
1212 May
93 Dec
304 Ocs
133 Nov
79 Feb
113 May
15214 J'ne
5914 Mch
5734 Mch
8838 Dec
52 Fob
114 J'ne
7 Nov
5512 Feb
14114 Nov
180 Dec
13733 J'ly
1533 J'ne
78 Jan
11034 Nov
10334 Dec
70 Jan
129 May
5018 Aug
67 Jan
98 Feb
14212 Dec
130 Mch
120 Mch
120 Mch
10853 Jan
19234 Jan
122 Mch
104 J'ne
212 Dec
10712 J'ly
7 Jan
8178 Feb
2.5 Jan
Chicago Banks and Trust Companies
Chicago Bond Record
BONDS
CHICAGO STOOK
EXCHANGE
Week ending March 29
Range for Year 1912.
B'ds
Sold
Range
for
Year 1912
NAME
Outstanding
Steel
Surplus
and
Profits
(1)
Dividend Record
/n
1910
In Per- Last Paid,
%
1911 loci
$200,000 $168,436 Org. A pit 3 1911 V.02, p.1004
High American State
111478 No. Low
Ask Low
Bid
An Jan 1,6'
6
6
y54,000
100.0(k)
Calumet National
10012 Jan'll
- A
3-3 J.t» '11,7
10
Amer Strawb'd 1st 63_1911
500,000 3299,239 10
9178 "io iffi "Els Chicago City
-1939 J • D 3-5178 giirj 0178
Q-J lAch30'12 213
Armour & Co 4
10
21.500,000 9,173,470 -Nat_
Comm
&
tal
Conti'
ii
Mch'
J
100
J
Q-J Apr *12, 4
Booth Fish Co Debt.; 51'17
16
Corn Exchange National 3,000,000 5,932,967 16
J
100
1924 J
• Deb g 52
200,000
Beg. b us May J1 .1 1. V.92.0538
Douglas State
-- 08)2 Apr'll
• Sink Fd Deb 6s It roc. A-()
Q-J Apr '12,113
8
55,034
6
200,000
State
Drexel
Q-J Apr '12, 212
10
Calumet & South Chicago
466,389 10
000,000
Drovers' Dep National,
1927 F - A 39838 9878 9914 July'll
Apr '12, 2
6li
Its' lst Is
(.1-3
6
53,564
200,000
Englewood State
10114 Oct'09
J
'(.1 (St L) 53'12 J
12 1.2-34 Mch '12414 v
Cass Av 4 11
10,000,000 11,789,514 12
First National
i) CO/ -931-2 100 May'07
M0h31'12 212
Q-M
12
10
Chic Board ot Trade 431027 J
203,168
150,000
Englewood
Nat
Finst
2 jai
101103
1927 F - A 310278 Sale 10278
Chicago City its' 5s
536,917
Priv ate Ba at
Foreman Bros B.13'g Co.. 1,000,000
Apr'04
103
J
8 (3-3 Apr •1 .:,2
637,830
8
Chic Consol Br & Mit Os__ _ J
2,000,000
National
Dearborn
Fort
Apr'09
50
-D
(1) .
Q-J
(1)
Chic Consol Trac 4 kis 1039
1,500,000 1,335,692 8+2
Hibernian B'k',I Ass'n
9834 Jan'OC
J-J Dec3(1'11; 5
Chic Auditorium Ist5s1921) F - A 192 94
132,123 10+15 10
400,000
9812 16 "973;"iti" Kaspar State Bank
J 39838 Sale
9&38
15,441 Beg. I) us Apr 811 V.92,p. 1001
Chicago Elev Ity 51_1914 J
200,000
State
View
Lake
9412 Dcc'09
Chic Jo Rit 1st 51 g 53_1045 ui 287,778 Beg. b us, Ma y'll) V.90. p.1277
1,000,000
La Salle St National
Feb'06
87
10 Q-M Meh30'11,212
Chic No Shore Elec 63.1012 A - 0
614,941 10
Live Stock Exch'ge Nat 1,250,000
92 -95
Q-J Meh30'12,2
8
Chic Poe Fool 1st 5.3..a1921 J - J 393 "oW" 93 Mcli'12
8
1,371,085
2,000,000
Republic__
of
Dank
Nat
101
-ig 9973 101
1927 •'A 8l0078 Sale 10078
Q-J Apr4 '12. 112
Chic RI,53
6
6
587,569
2,000,000
9678 National City
2 96
19612 9634 9634
0634
Chic ltys 53 __series "A" A Q-3 Apr '12, 112
6
4
97,958
250,000
Produce
National
9738
9614
9638
Jan'12
Chic By 48_zerie3 "A" A Q-3 Apr '12, 134
7
72,250
6h
200.000
State
Avenue
North
9014 9158
90.4
Apr '12. 112
Chic ztys 45_ _series "B" J -Li 1-7.45; -C/C13-8 9014
Q-3
6
6
36,939
50,000
9612 so 93S1 9518 North Side State Sav'gs
96
95
94
Q-J Apr '12, 112
Chic itys 4s _serles "C' • -A
'5
4
32,304
200,000
North West State
Jan'12
-A
100 100
100
91i Q-J J ,r1 '12, 21/
Chic itys coil
7
145,902
300,000
State_
Yds
Stk
People's
Jan'11
100
6 Q-31 Apr '12, 112
Chic ltys Fund 6s...1913 • -A
6
69,668
500,000
Prairie State
100 Dec'll
Chic ltys Tem etts lit 5s
145,097 Beg. b us.Nov 1'11 V.93, 9.1235
200,000
Secoaci
7734 85
81
8214 Feb'12
Q-J Apr '12, 113
80
Chic fly Pr m Mg 4s_c'27 J -J 180
4),1
400,000
Security
55 Sale
24 48
60
65
55
8
Q-3 Apr '12,2
7h
Chic ByAdjInc4sClD2l Aayl
104,000
200,006
South Chicago Savings_
6612 Aug'08
tilt 43_2002 A - N
Q-3 Apr '12. 112
6
Chic It 1 de
6
15,345
200,000
State
Side
South
6612 July'08
Apr '12,3
Q-J
12
Collat trust g 5s_ _1913
12
2,194,591
1,500,000
fol- 103
103 10314 State Bank of Chicago_
10318
8 Q-M Mch 30'11; 2
Calle Telephone 51_ _ 1923
8
203,337
250,000
9078 9158 Stock Yards Savings
A91
t 90
9078 Mch'12
6 31-15 Lvov '11,3
Chi City& ConRys 5s_d1927 J - J I
142,826
6
600,000
of
Chicago_
Bank
Union
0813
9738
11
9819 Sale
9812
9814
Q-J Apr '12, 112
6
u9,82
Cicero Gas Co ref GM 1932 11 6
100,000
6 103 10334 Washington Park Nat'l
10353 Sale 10358
10334
l30111111011W.lit113011 5s...1943
19,678 None None Q-11. Dec31'08,112
50,000
Wendell State
10078 Nov'10
Apr '12,2
(4-J
Chic Edison deb 6s..1913 J 8
1,524,579
73i
In
of
Co
Tr
3,500,000
Central
Feb'll
100
1920 A - 0
Q-J Apr '12, 113
lit
6
234,115
6
Chicago Say Ilk de Tr
1,000.000
1920 ,l1 10058 Aug'09
DebentUre 5s
Q-J Apr '12,2
8
7)6
nue ec Trust.. 5.000.000 £2,031,511
Chicago
4
10213
foli"3
310313
1
63
10314
;
5
501943
19314
Commonw Elect
Q-J Apr '12, 3
10
18,004
6
50,000
10058 Sale 100)3 10333 20 9978 10034 Citizens Trust & Savings
Cudahy Pack 150159_1924 M 490,855 8+2 8+2 Q-J Apr '12, 212
600,000
107 11014 Colonial Trust & Saving
11012
110934 Sale 10934
Dla Match Con db 51_1920
Tr & Say 3,000,000 1,222,180
Comm
&
Cont
Dec'08
1923
80
Illinois Tunnel 5s
159,583
8
836 Q-J Apr '12, 212
200,000
Drovers'Trust &Savings
Kan City Ity & Light
16 Q-M Dee.10' 11,4
First Trust & Savings _ 5,000,000 1,521,966 12
9734 May'll
1911 It N
Co 5s
11,913 Beg. b us.Apr 3' 11 V. 92, 3). 929
250,000
Tr&Sav Bk
Ft.Dearborn
May'll
101)
A
192,1
5s
1st
Knick'b'ker Ice
2)6
Apr '12, 213
91,486
ll
J 1 8)
87(4 -g1-2 Greenbaum Sous Bk & Tr 1,500, is
.F2 gife sst2 Mcli'12
'12, 3
Lake St El-lit 53_1028 J
31,222
J-J1 J
200,
Guarantee Trust & Sav_
192„, Feb
AA,. 16 May'05
Income 5s
Q-J Apr '12, 3
12
2,003,213 11+5
1,500.000
Savings.
63
Trust
Harris
8534
813
A
4
-g13
-WI
8434
4
__Ie
4319.18
lit
1 V.92.9 1004
Metr %V Side El
'1
Apt
us
60,138
b
Beg,
Trust..___,
300.000
&
Bank
Home
83
82
Extension g 4s......193s J • J t 8212 8312 8234 Mell'12
Feb2(1'12,4
9,378,690 13+4 16+4
90 Mch'12
11.139
• J:8912 00
8912 9014 Illinois Trust & Savings 5,000,000
Morrii 5: Co. 4 )4
41-J Mcli30'11 134
7
75,440 7+134
200.000
Kenwood Trust & Saves
Jkny'll
b
Jan '12, 112
Norta West El 111 43_ 1911 11 --Si 1-55:34 1-663-2 100
6
Q-J
6y.,
59,287
200,000
Trust&Savgs
9'378 Mch'12
4 166- Lake View
.
-1-133
Apr '12, 4
1.5
NW GL & Coke Co 531928
Co 3,000,000 6,492,219 12
96
9613 96
104.5 if - N 1 90
9534 9614 Merchants' LoandoTT
Ogden Gos 52
59,982 Beg, b us, Oct 29'1 U v91,9.1221
200,000
Co__..
Tr
Ave
10033
Michigan
Mch'09
____
9812
101()
11V 92 p1004
r10'
At
us.
Pearsons-Taft 55
b
Coin.
76,665
500,000
Bk_
9612 Mch'10
Mid-City Tr & Say
.._
ii - S 95__
(.14 Mch30
8
8
4.404
Feb.10
Northern Trust Co.... 1,500,000 2,604,098
A - Ni
___ 97
96
J-J Jan '12. 4
8
6
117,744
4.003 Series E
250,00
rn Tr &Sav
9814
North-Weste
N
Noy'll
•
350,382 Beg. b ua Tne 111 V.92,p, 1537
4.805 Series 1'
200,000
_
11812 Jan'12
A U
Hit; 11813 Old Colony 'Fr dr Say Bank
161,270
Q-J Apr '12. 2
Peo (las L & C 1st 63_1943 A 500,000
10178 10 10178 10214 People's Tr & Say Bk
10-212 1017s
273,729
8
Apr '12,2
8
Refunding g 5s__1947 J . 3008
300,000
_
Savgs
&
Trust
Pullman
10338
1033
8
Sale
3
10333
10314 10334
32,502
120
,
as.
XI)
9 V .89.1).141
b
Beg,
Chic Gas L&C 1st 531937 J
200,000
Sheridan Tr & Say Bank
103
Jan'12
110214 103
10213 103
334.60 Comm enced bus. Sept 0 1910
Conlum Gas 1st 53_1930
Tr & Savings_ 1,000,000
Standard
13114
10112
10112
Jan'12
1101
N
10113
A
lst5s1947
45,455
6
Mut'l Fuel Gas
5%
J-J Jan '12, 3
200,000
9552
J 3 9518 9558 9512
0558 9.314 Stockmen's Trust & Say
South Side Elcv 4 lis-1024 J
1,200,000 1,428,925 18+2 8+2 Q-M Mch40'11,2
10012
10012
10014 10034 Union Trust Co
59,647
Swift & Co 1st g 5.3_1014 J - J 110012 101
Dec30'11. 4 •
8+2
6
400,000
Tr&SavBank
Side
West
80
Jan'12
89
87
89
185
0
Union (Cl (Loop) 53_1045 A 81,206
734
200,000
934 Q-J Jan, '12212
70 Apr''10
-- Woodlawn Tr&SavIlatiK
United Box Board col 6326
__. 60 Mcli'll
J
J
General mtgo 63
fai Ri"
Western Elec Co 5s.... 1922 J 'J tioNs 10314 103 Ilch'12
Nets.-Accrued Interest must be added to all Chicago b ond prices.
No
for national banks and Feb. 21 (opening of business) for State institutions. I
* Bid and asked prices; no sales were made on this day. 7Feb. 20 (close of business)
Stock all acquired by the Cont. & Comm. Nat. Bank. a Due Dec. 31. b Due June.
price Friday; latest price this week. f Sept. 1 1011. 1 Dividends not published.
to
provide
stock,
Bank
Security
on
1911
in
paid
of
diy.
A
50%
s
q Dividends are paid Q-J, with extra payments Q-Fc Due Feb. d Due Jan. 1. k Also 20% in stock.
19 1912. v 1)6% of this is a special dividend. y Dee. 6 1911. 3 Dee. 6 1911.
capital for the now Second Security Bank. V.93, p. 1235. (Dec. 30 1911. u March
BOSTON STOCK EXCHANGE-Stock Record, Daily, Weekly and Yearly
SHARE PRICES-NOT PER CENTUM PRICES
Saturday
March 23
Monday
March 25
Tuesday.
March 26
Wednesday
March 27
Thursday
March 28
Friday
March 29
Sees
of the
Weec
Shares
STOCKS
BOSTON STOCK
EXCHANGE
Range since January 1
On basis ol 100-share toes
Lowest.
Railroads
*10814 10812 10814 10814 10778 10878 *10814 10812 10818 10838 10
101
25 Atoh Top & Santa Fe_100 10373 Feb 10
*10312 10334 10358 10358 10314 10314 103 103
10334 10334 ----------85.Do pre(
100 10112 Jan 12
222 222
222 22213 222 222
222 22213 222 222
22214 22214
181 Boston & Albany
100 220 Jan 3
134 13.412 134 13434 13334 134
134 134
134 134
134 134
1,109 Boston Elevated
100 13014 Jan 2
214 214
*___ 215
214 214 1... _ 215 *___ 215
21412 21413
Boston
Lowell
&
100 214 Mch 19
12
100 100
100 1001" 100 10012 101515 1001. 1001-4 10012 10014 10012
100 z9812 hIch 2
302 Boston & Maine
*293 300 *293 300 - .. _*293
- 298 298 *298 ___
10 Boston & Providence_100 293 Mch22
*13
15 *13
15
*13 -1-5
*13
Boston
15
Suburban El Cos.. 13 Jan 24
Last Sale 13
Jan'12
*7712
_ *7713
*7713
*77/2
__
Do pret
Last Sale 7712 Feb'12
73 Jan 25
s____ Ti *____ Yo12 *____
Boston & Wore Elec Cos_
Last Sale 1238 Jan'12
12 Jan 6
*54
56 *54
56 *54
56 *54
Do pref
56
Last Sale 56 Mch'12
54 Jan 5
*167 169 *167 169 *167 169 *167 169
Chic June By & USY-100 z167 Alch14
Last Sale 167 Mch'12
113 113
113 113 *113 ____ 11314 11314 11314 11314 1131.2 11312
58
Do prof
10812 Jan 2
,,- -- ---- --___- --__ ____ _-Connecticut River_100 271 Jan 3
Last Sale 272 Feb'12
128 128
128 128
127 128
in 12712 12714 12712 127 128
247 Fitchburg, pret
100 126 Jan 3
*173 174 *17334 ---- 173 175
17413 175
Ga By de ElectrIc
175 177 *176 177
37c
100 14912 Jan 4
.'
3612 8612 43312 -878614 8614 8T
87
8714 8714 *8613 8712
15u _ Do _pre
100 8512 Mch 21
*14112
_ *14112
_ *14112 _ __ *142
:Zaino Central
-h'12
Last Sale
100 143 Itch 7
2173 2171
2178 /178 21
2-173 22 2214 22
2214 -----------1,058 Maas Electric Cos
100 20 Feb 8
8214 8234 8212 8234 8234 8234 8234 8234 8238 8234 8234 8234 1,642
Do pref Stamped_100 7978 Feb 13
13912 140
13914 1.3934 13934 14014 13973 19014 13914 140
13934 14014 2.689 N Y N H & Hartford_100 136 Feb 2
1401 14012
2 Northern N H
100 14012 Mch19
--__ ___ ---- -___ ___- -___ _- --__
Norwich & Wor pref _100 211 Jan 8
Last Sale 2131,Jan'12
*18312 185 *18.3 185
135 Old Colony
131 1831
8
185
1 185 *8313 184
100 18312 Alch29
*57---- --- -- ------- -5812 5813 ---- ---10_ Rutland pref
100 41 Jan 2
*17038 1-7-052 17013 1-/1-12 iiii 8 fi61 iiiiis 172
637 Union Pacific
17014 17153 17114 172
100 16012 Feb 1
*9134 9212 9113 911 *9134 9213 *92
9214 9134 9134 92
70
Do pref
92
100 91 Jan 26
Vermont & Mass
Last Sal 164 Feb'12
100 164 Jan 5
;0-3672 /01-2 86 -Ai. -i5T4 -8.
113 -55- -8-61-2 86
519 West End St
50 8534 Mch 29
8614 8534 86
10213 1021, 10213 103
*102 103
10212 103
345
10212 103
Do pref
103 103
50 10114 Jan 2
-10i,*____ -1-01,
Miscellaneous
1,221 Amer Agricul Chem-100 5814 Feb 28
6112 62
6112 62
10212 10314 103 10314 1,099
D' pre!
100 10034 Jan 13
353 353 *312 334
563 Amer Pneu Servic0_ 50
312 Mch 13
14
1414 14
Do pret
825
50 14 Mch26
14
127 12813 128 128
Amer
Sugar
1-tetin
100 11434 Jan 10
1.967
12114 122
Do pre
12114 12134 1,100
100 11512 Jan 4
148 14834 x14633 14634 12,863 Amer Tol-,P de Teleg-100 13712 Jan 2
-100 25 Jan 31
30 American Woolon
91
92
92 -9-2Do prof
100 88 Feb 5
805
8012 8034 8012 8013
372 Amoskcag Manntacturing 77 Jan 3
10412 10412 104 104
Do pre!
152
100 Jan 2
738 738 *712 8
12 Ati Gulf & W 1 SS L_100
7 Jan 4
*1512 17
*15
16
217
Do pref
106 15 Mch 15
Last Sale 18912 Feb'12
Comb Tele!) & Teleg_100 157 Jan 2
.74.172 -1-5 -1-4-3-3 1412 1412 1412 15
141. 1413 1412 2,287 East Boston Land
14
10 1034 Jan 2
293 298
298 29812 298 299
293 300
298 299 - 299 300
506 Edison Eleo llium_100 295 Jan 2
16634 16714 16612 16672 166 166
163 163
163 167
19534 16612
692 General Electric
100 155 Jan 2
94
9334 9373 93
9212 9276 93
93
9312 9312 9312 9334 1,443 Massachusetts Gas Cos100 9014 Jan 2
9814 9812 9838 981
93
9832 9314 9812 9838 9312 9834 9834 1,421
Do p:•et
100 9312 Jan 5
*220 221
22014 221
220 221
221 221
220 221 *220 221
87 Mergenthaler Lino
100 218 Feb I
*3
312 *3
313 *3
312
218 238 *3
313 *3
312
Mexican Telephone
10
212 Mch 14
4
*10112 104
102 102 *101 102
102 102 *102 103
E
10213 10213
Cotton
Yarn
100 102 Mch20
22 N
*106
106 106
107 107 *105 '107
107 107 *106 108
Do pret
31
100 310313 Jan 15
160 1-60
160 161
16012 161 *169 161
16013 16012 16014 16003
367 N E Telephone
100 152 Jan 2
*_- 91 *____ 91 *____ 91
Portland (Me) Elec_100 7212 Jan 17
*92
__
Last Sate 90 Mch'12
160 16038 160 16012 160 1601 160 1601k 160 16013 16014 10038 1,290 Pullman Co
100 158 Feb I
*16- 17
17. *16 _ _
17
17
1614 1614 *18
1634
120 Reece Button-Hole-10 1334 Jan 2
102 1/214 102 103
103 10-814 10613 109
105 107
105 105
100 9812 Jan 2
3,838 Swift & Co
3012 3012 3012 3012 3012 3012 *3012 31
158 Torrington
31
31
*3012 31
25 30 Feb 20
*29
2012 2913 2912 *29
9
Do prof
2012 *29
2913 *29
2012 *29
25 28 Jan 6
2912
18512 18612 318378 1851 18434 186
763 United Fruit
185 18512 185 18514 182 185
100 178 Jan 29
5012 5012 51
5114 5034 51
5012 51
5033 5034 51
51
1,601 Ma shoe Mach Corp- 25 4614 Jan 15
2813 2876 2812 29
29
29
29
29
29
Do prof
2914 2914 2914 1,638
25 2738 Jan 10
6753 6878 89
6973 677g 691
6758 6914 6712 6812 6733 6814 22,475 H S Steel Corp
100 5838 Feb 13
11212 11314 113 113/4 11278 11334 11273 113
11134 11212 112 11213
Do pre!
493
-100 10718 Feb 13
63
6334 z62
8252
10412 105 40314 10312
*334 4
334 33.
1434 1471 1434 1434
12734 128
128 1281
12134 122
12112 122
14818 1481
5 149
29
29 -------94
9414 39214 9214
8012 8012 *8013 82
*10214
10212 1041
*734 8
*738 -815
15
15
15
62
8234 62
6214
103 1031., 10213 10314
312 31'
312 334,
14
1412 14
14
12638 12834 12712 12914
121 122
12114 122
14813 145
1 149
---- ----2913 2912
5131 9212 9134 9214
8012 803. 8034 8034
10412 105
10434 10434
733 73, *712 3
15
1511 *1512 17
-iir,
Mining
712 783
7
71
612 61.
6
6
1,395 Adventure Con
514 6
6
6
25
538 53
6
755
6
533 6
614 714
7
712 734 14,835 Algomah Mining*
25
4414 45' 45
4312 9312 44
4434 45
45
46
47
47
1,994 Aliouez
25
7973
813 - 7973 81
7814 80
8014 811
7834 8038 7978 8133 25,389 Amalgamated Copper 100
27
2711 27
271
2714 2713 2634 2714 27
2738 32634 27
3,800 Am Zino Lead & Sm_ 25
438 434
438 43
433 43,
433 434
438 438
7,095 Arizona Com'l Ws dep..
434 5
*.40 .42 * .40 .42 * .40 .42 *.40 .42
Last Sale .40 Mch'12
Bonanza Dev Co___ 10
*734 8
8
8
734 814
734 814
814 814
734 734 1,885 Bos&Corbeope:SIIMg- 5
*373 . 4
378 4
*373 . 414
373 3,6
4
4
ilutte-Balaklava Cop- 10
400
3
7
8
37
8
__
___
__
___ _ _ ____
__
Butte Coalition
Last Sall 23 Feb'12
15
27 -2-9-. 2834 -3-0
2813 2-9- , _ 28 2812 23
2812 2312 2912 7,428 Butte & Sup Cop (Ltd) 10
6814 70
71
721. 7218 74 ' 72
74
7013 7234 72 7212 21,381 Calumet & Arizona.-- 10
468 469 . 470 475
472 275
470 475
470 476
468 468
25
279 Calumet de Hecla
• 2113 2134 2112 2134 2138 213, *____ 21
21
21
2112 2212 1,860 Centennial
25
2634 274 2714 2818 2713 2734 2734 2834 2838 29
29
2914 5,273 Chino Copper
5
.04 .06
.03 .
* .03 .05
.03 .03
.03 .0:3
3,550 Cons Merour Gold_._1
-b91/4 -6-0
60
6134 6012 611
6112 63
61
62
0112 6213 8,029 Copper Range Con
100
634 634
634 634
634 63.,
7
71,
712 712
20
713 712 1,545 Daly-West
• 1312 1334 1334 14
1312 141. 1331 1414 1353 1413 1334 14
18,646 Salt Butte Cop Min
10
14
1434 141. 15
1413 1434 1434 1514 1413 15
15
153; 12,320 Franklin
25
412 434 4111-e 475
434 51
16,687 Giroux Consolidated_ 5
,
513 558
3v3
513
'
5
513
53
4
39
3914 39
40
30
3912 3912 4134 40
4012 4012 5,321 Granby Consolidated..100
41
8°15 833
853 913E
913 931.
918 9345
9
20
914
93as 938 15,510 Greene Cananea
31
3114 31
3112 31
311. '3114 341 e341. 3512 35
3512 10,385 Hancock Consolidated 25
*1
114
114
114
1;3 13,
1
138
11,1
13,
113 113
595 Helvetia Copper
25
16
16
16
1614 1503 1634 17
1773 1612 1714 17
1738 7,391 Indiana Mining
25
• 1834 19
1878 197• 1938 193
1933 20
1934 2018 1934 20
7,652 Inspiration Consol (i_ 20
• 4234 4313 4234 4234 4234 4413 41
42
*41
43 *__
43
564 Island Creek Coal
1
..' 86
8614 8513 853. *8434 8513 8512 8612 8512 8512 *8512 8534
Do pret
435
1
!' 2734 2814 2714 284 2713 2814 2773 28
27
7,944 Isle Royale Copper
2712 2718 29
25
*278 3
3
3
*278 3
234
273
273
273
273
684 Kerr Lake
273
5
*118 13,
114
114
114 133
133 112 . 133 158
134 173 1,670 Keweanaw Copper_ 25
38
3913 3878 3934 3834 44
44
4633 44
47
461 4314 44,298 Lake Copper Co
25
*514 512
512 51- *-3,3514
514 512
2,753 La Salle Conner
6
6
512 614
25
1212 121
1212 1234 is
13
1318 1333 1334 5,050 Macon Valley Mines,..,.s
13
1318 13
' 8
8
814 814
8
8
813 304
8
8
1,120 Mass Consol
818 814
25
1014 103
10
1034
934 1014 1014 11
1053 11
11
1134 9,610 Mayflower
25
2434 25
2434 25
2514 26
*23.; 2614 26
2578 26
Miami Copper
1,620
2618
5
. *3
312 *234 314
3
3
*2.73 312 *234 313
234 3
130 Michigan
25
6012 61
61
62
623g 63
6113 63
62
62
61
62
2,068 Mohawk
25
'7 2014 2013 2012 21
2013 2014 2033 2018 2011 2018 2014 5,026 Nevada Consolidated.. 5
20
*438 453
414 473
414 434
414
4
438 08 1,945 New Arcadian Copper 25
414 412
838 856
• 814 812
812 81,
814 81
834e 812 x8'to 818 1,440 Nipissing Mines
5
:. 3114 3234 3234 3372 3134 333
3314 3414 3214 3334 33314 3334 37,934 North Butte
15
67S 678
678 712
734 8
634 7
733 8
8,219 North Lake
25
734 8
: *6
614
53,4 613
6
6
512 19
534 6
533 534 2,480 Oflbway Mining
25
634 634
634 615te
6
634 • 6
634
614 G1143
612 712 9,255 Old Colony
25
' 50
51
51
5114
5014 51
52
54
5312 5412 54
5413 6,526 Old Dominion Co.- 25
. 116 118
117 11712 117 11712 116 116
11412
117
114
116
1,404 Osceola
25
- *1538 1534 1514 15.13 1514 1514 15
*1518 1512 1,265 Pond Creek Coal
15
1512 15
10
• 8213 8314 83
8414 8313 84
8313 84
83
8312 8114 8312
912 Quincy
25
-- 1734 1814 1814 183, 1833 1858 1312 1834 1838 1014
19
1938 7,047 Ray Consol Copper
10
113 113
158 153
134
134 *138 134
153 2
*134 2
1,825 Santa Fe Gold & Cop_ 10
1213 13
1318 1912 14
1438 1414 1434 1413 1434 1434 1512 23,620 Shannon
10
•.135 .70
.70 .70
.75 .80
.75 .95
.85 .93
.94 .95
4,533 South Utah AI & S.._ 5
29
291: 29
3012 29
291, 29
30
32
29
213, 30
4,417 Superior
23
*333 334
333 312
333 312
314 312
314 373
314 353 1,750 Superior& Boston Min 10
2912 3112 3013 31
*29
30
30
3013 29
3014 1,156 Tamarack
30/3 29
25
•
6
534 6
634
613 634
6
613
(312
6
6
6
1,841 Trinity
25
4
4
4
4
4 4111.4
4318
4
4110 414,3 1,175 Tuolumne Copper -._ 1
4
3978 4018 3013 4018 393
4 3934 3933 3934 3014 3912 33813 3912 8.996 U S Smelt Rcf & Min_ 50
49
49
4873 49
4878 49
4873 99
99
4014 z4313 4313 2,677
Do pref_-_,- 50
3
3
3
273 3116
34,4
3
3
3
3
_
_
1,660 Utah-Apex Mining... 6
1714 18
1734 1814 18
1913 1912 20
19
1934 jai, 1938 19,853 Utah Consolidated
1
5973 6034 6114 6214 6034 6134 6033 62
60
61
01
61
3,469 Utah Copper Co
16
412 413
412 434
434 434
434 434
412 459
458 434 1,340 Vic aria
'5
*634 718
7
7
534 534
634 7
1,005 Winona
634 7
634 034
25
113 11313 114 115
115 115
115 115
112 114
112 112
416 Wolverine
25
212 234 *212 23;
'213 213
23; 273
233 214
373
1,960 Wyanclott
234
25
t.,• laid and .4-..tea vexed. a Now etocx. 4 ao141 patd. S alx-stoe, 411v. 31 Ex-riglats.
a Ex-div, and r‘ots.
Range lor Previous
Year 1911.
Highest.
Lowest.
Highe3t.
__-.....
10918 Mch 29
10414 Feb 7
22214 Jan 30
13434 hIch2.3
218 Jan 4
10012 Jan 3
29934 Feb 29
13 Jan 24
7712 Feb 20
1212 Jan 6
57 Jan 8
170 Jan 19
114 Feb 19
272 Jan Is
123 Jan 25
177 Mch28
9113 Jan 6
145 Feb 27
2318 Jan 8
83 Feb 28
14014 Mull 6
143 Jan 24
21212 Jan 20
187 Jan 31
70 Jan 24
17312 Jan 2
9213 Feb 8
164 Jan 16
8873 Feb 26
10312 Mehl°
10058 Sep
101 Sep
219 Apr
12412 Sep
207 Feb
9612 Oct
202 Mch
12 Sep
70 Oct
6 Feb
3812 Jan
156 Apr
107 Mch
265 Jan
125 Apr
11712 Jan
88 Feb
135 Sep
16 Apr
11814 J'ne
105 J'ne
220 Feb
13012 Aug
218 Sep
12233 Feb
300 Mch
16 Mch
7614 J'ne
13 J'ir
58 J'iY
171 Dec
11512 J'iy
272 J'ne
130 Jan
164 Oct
9312 J'nO
215 Jan
24 Pus
12714 Sep
139 Jan
210 Jan
183 Mch
32 Jan
15313 Sep
U0 Mch
156 Itch
85 Sep
103 Aug
15/38 Fcb
142 Mch
214 Nov
100 Nov
45 Deo
19213 J'iy
0513 May
16418 Dec
93 Melt
105 Jan
46 Sep
6334 Mch23
105 Mch22
99 Jan
513 Jan 15
312 Aug
1218 Aug
1714 Jan 16
12914 Mch27 112 Sep
12212 Mch22 11134 Jan
149 Mch25 13158 Aug
30 Mch22
2612 Dec
9414 tact/23
8512 Oct
8134 Mch20
7712 Dec
103 hIch26
99 Dec
9 Feb 14
733 Dec
1412 Nov
20 Jan 18
16012 Feb 29 14514 Jan
1614 Jan 27
714 Jan
300 Mch27 275 Sep
163 Mch27 142 Sep
94 Alch 16
8734 Jan
9878 Feb 19
93 Dec
225 Jan 18 211 Jan
4 Jan 20
3 Oct
105 Jan 18 103 Oct
107 Mch26 101 Nov
164 Mch 14 137 Jan
6234 Ply
90 Mch20
162 Jan 30 153 Sep
17 Mch 16 x12 Jan
109 Mch27
9734 Sop
32 Jan 10
29 Sep
30 Jan 13
27 Mch
18718 Mch20 8178 Dec
5314 Mch 13
4014 Aug
2914 Mch 28
2612 Sop
6978 Mch 25
50 Oct
11334 Mch 26 10313 Sep
6334 Deo
10514 Mch
613 Jan
1914 Jan
122 Feb
12013 May
15314 J'ne
3614 Mch
9612 J'ne
81 Nov
10013 Deo
11 May
20 Jan
15912 J'n•
12 May
297 Deo
16734 May
9634 Aug
0812 Oct
235 Aug`
478 Jan
119 Mott
11812 Mob
16513 Dec
7334 Nov
103 Jan
15 Map'
104 J'ne
30 Jan 31 J'ly '
19713 J'12,'
5878 Fe
2914 Jan
8213 Feb
12012 Feb
514 Mch2S . 8 Mch 5
458 Jan 4
/34 Mch 20
3314 Feb 1 47 Mch29
60 Feb 1 8138 Mcn29
2413 Feb 15 2814 Mch 15
2 Jan 2
b Mch 8
.40 Mch 9
13 Jan 19
614 Feb I
9 Jan 16
31 Jan 22
5 Feb 23
2134 Jan 18 2338 Jan 3
1912 Feb 7 30 Mch2a
5713 Feb I 74 hIch26
405 , Feb I 476 Mch27
1713 Jan 5 23 Jan 18
2514 Feb 28 2914 1fel/ 20
.03 Mch 26 .09 Jan 10
50 Jan 31 63 Mch27
5 Jan 19
712 1Ich27
1214 Jan 15 1414 hIch27
1112 Jan 15 1538 hIch29
418 Feb 27 31344 hIch20
33 Fab 5 4134 Mch 27
712 Feb 29
038 Mch25
29 Jan 5 3534 Feb 14
1 Jan 3
158 Mcii 7
1133 Jan 16 1778 Mob 27
18 Feb 6 2158 Jan 24
4012 Jan 17 45 Feb 21
85 Jan 13 8713 Mch 9
2033 Jan 16 2938 hIch 9
234 Jan 2
318 Feb 13
.130 Jan 2
178 Mch 29
3212 Feb 1 4814 hien 29
412 Feb 15
614 Mch28
1072 Feb 8 1334 hich29
714 Feb 13
914 Jan 4
234 Jan 3 1134 Fob 27
23
,33 Jan 20 2618 Mch 20
- Jan 2
312 Jan 20
5043 Jan 30 63 Mch 26
1814 Jan 29 21 Mch25
314 Feb 8
534 hich 6
534 Jan 3
858 Mch 25
2234 Feb 1 3414 Mel/27
514 Jan 30
8 1fch27
412 Jan 5 e634 Jan Ill
253 Jan 2
814 Feb 29
44 Jan 31 5412 1lch28
106 Jan 15 118 Mch22
15 1fch27 1612 Fob 10
7313 Jan 29 8414 Mch25
1613 Jan 29 1913 Jan 2
1 Jan 31
2 Mch 8
9 Jan 31 1512 hich 29
.60 Feb 1 .95 Mch29
24 Feb 1 32 Mch20
273 Feb 21
478 Jan 13
26 Jan 31 3273 Jan 2
5 Jan 15
634 Mch 25
312Jan 2 41/46 Mch 26
34 Jan 31 4014 Mch 2l
47 Jan I(
4914 hich 28
212 Jan 2 311,0 Feb 9
1434 Feb 21 20 Mch27
5213 Jan 29 6214 Mch25
418 Mch 21
578 Jan 20
512Jan 25
734 Mch 1
9434 Jan 29 116 Mch 5
134 Jan 5
314 Alch 4
4 Sep
212 Oct
21 Aug
4434 Sep
1934 Oct
138 Dec
.30 Oct
334 Aug
3 Nov
14 Aug
718 J'ne
11 J'ne
4414 Dec
7158 J'ne
3053•J'ne
21144 Dec
.75 Mar
1513 May
612 Jan
2312 Dec
43 Sep
360 Sep
8 Aug
1638 Sep
.03 Nov
4634 Sep
3 Feb
873 Aug
513 Aug
333 Soli
i.6 Aug
5106 Oct
17 Sep
34 Sep
514 Oct
0334 Deei
545 Jan
19 Deo
2712 Deo
.15 J'ng
6934 Feb
7 Deo
1434 J'ng
14 J'ne
813 Feb
4313 J'ne
858 I)eo
3112 Deo
2 Feb
13 • J'ne
44 Deo
2014 May
8213 Sep
91 J'ne
111. Aug
23 Deo
.1:34 Oct
778 Jan
13 Nov
334 J'ne
22 Aug
40 J'ne
3 Aug
6 Jan
613 Apr
1173 Deo
413 Aug 310 J'ne
.20 Feb
3118 Deo
1878 Sep
2438 Dee
114 Nov
312 Jan
36 Apr
57 Deo
13 Sep
2114 J'ne
2 Aug
414 Ant*
3612 Dec
1138 Feb
20 Sep
3614 J'ne
331 Aug
934 J'110
338 Dec
813 J'ne
.50 Jan
318 J'iy
3414 Sep
49 J'ne
81 Sep 124 Jan
55 Sep
12 Sep
34 Apr
7 Oct
12 Dec
20 Oct
e218 Oct
20 Sep
278 Oct
134 Sep
aws Sep
4514 Aug
173 Nov
934 Jan
33 Sep
I Aug
334 Nov
74 Nov
.30 Nov
76 ljec
19 Dec
134 J'ne
1214 Feb
Pio May
4212 Jan
814 J'ne
52 Jan
512 Dec
473 May
4013 J'ne
491. J'ne
3r2J'0e
20 J'ne
5753 Dec
418 Dec
912 Feb
122 Feb
3 Feb
903
Boston Bond Record
MAR. 30 1012.1
BONDS
DosToN 8T001( EXCHANGE
Week Belding March 29
a,
Price
Friday
March 29
07;
BONDS
BOSTON STOCK EXCHANGE
Week Ending March 29
Range
Since
Week's
Range or
Last Sale
Price
Friday
March 29
Wee7:'s
Range or
Last Salt
P
Range
Since
Jan. 1.
High No loin High
Ask Low
Bid
9914 9914
High No Low High
Ask Low
Bid
as_1915 A-0 100 10012 9914 Feb '12 83 9612
9812
10238 45 10114 10234 General Motors 1st 5-yr
9634
Sale 102
9612
1024
A-0
Sale
9634
8
1
J-J
51_192
4s__192
tr
coil
lst
Q
9114 3t Nor 0 13 &
9018
206
Am Agricni Chem
91
9058
Sale
9078
Sale
J-J
9638
9
J
1021 Q 43
ed
Register
4
758
11534
9
0
8
903
1
,
10
078
7
10834
km Telep & Tel coil tr 43_192
11
0
9
6
,
9
9
r
1
p
A
,
1
7
6
0
1153
1
9
19
11534
1936 M-S 115 116
1913 A-0 10018 10012
Illinois Steel deben 5s
Convertible 4s
0814 Oct '11
g 1010 J -J
In Falls & Sioux C 1st 7s_1917 A-0
97
10
1
2
-113
11
Am Writ Paper 1st s f 59
9112
110
97
109
9612
---_-_-_
if-N
Sale
97
1915
1925 A-0
Kan C Clln & Spr 1st 5s
16 54 61
7 11634 11712
iim Zino L & S deb Os
61
61 Sale 59
1928 111-N 117 11714 11634 117
of den_
Ariz Corn Cop let as ars
9912 15 99 9934 Kan C Ft Scott & Mem 6s 1034•S 9212 ____ 9212 Itch'12 ____ 92 9212
9914 Sale 9914
41995
2 91 9218 Kan 0 lif & 13 gen 4s
85 89
Atch Top 63 S Fe gong ly 1995 Nov 9034 9112 91
10
91
88
88
1034 11- S 88 Sale
Assented Income as
12 102_12
.
Adjustment g 4s____Ju 1905 M-N 9034 9112 9114 Mch'12
9114 9158
. 102
2 _1
018
2
.
02512 J.,n1e0
53_1929 A-0 10214 103 11
July
Stamped
•
1 10818 1034 Kan 0 & M By & Br 1st63_192
10818
10813
-D
1951
J
5
A-0
Marq Hough & Ont 1st
- 9914
50-year oonv 4s
•
8
9
10
9838
'll
98
11034Mch
98
1917 J -D
1929 J-J ____
10-year cony 5s
24 6612 1
4 Mass Gas 454s
81
67
9912 May'll
6i- Sale 6634
53_1959 J 1917 J • J
95 9518 Mich Telephone 1st 5s
Atl Gull 61 W I SS Lines
'12
Feb
'Silt;
4
-3
0
5'8
A
F
1935
1929
New Ellif Cotton Yarn 5s
Boston Elev 30-yr4sg 4s
2Itichn 3 -9-612- -9-84
1318
96
10
10014 Mch'00
1016 J -J
1915 A -0
New Eng Tel.,ph 5s
Boston & Lowell
10412 Oct '08
10012 Sep 'OS ----------1044 J - J
1016 A-0
5s
Boston & Maine 4 5
4
'12 ___ 9-938Jan
-A
9
F
1037
1945 J-J
New England cons g 58
Improvement 4s
95 95
_
05 Feb '12
1042 F-A
1939 A-0
Boston Term 1st 4s
Piain 4s
103 10318
10318
Deci5JJ'ii -13
-103
J-J
1918
1934
Os
J-J
cons
5s
New River (The) cony
4 9238
Bur & 1.10 Ely
12-111185 Sep '11
924 Mch'12 _
R 1st 7s 1916 111-N
2 9214 NY N H & H con deb 3;0_19513 J -J
13134 13212
19-1Cedar Rap & Mo 41.._
132 Iiich'12
9112
May 1920 Q-F 9114 Sale 9012
1948 J -J
Cony deb 6s
Cent Vermt let g 1st 5s
Apr '09 ____
---- -101
Oct '07
1103
A-0
1919
-A
F
1924
Div
994 9912 Old Colony gold 48
Oil .fo 0 Iowa 43
9812
9912
987 Sep '09
1910 A-0
J -D
Iowa Div 1st
2 10078 10112 Oregon By & Nay con g 43_1946
11334 Feb '12 __ 1133411334
1913 M-N No% ---- 10078 10 as
1022 F - A
Oreg Sh Line 1st g 68
Debenture 58
9978 100
'12
Feb
95 Jan '12____ 95 95
.
4
3
A
F8
99
1922
9
J-J
1912
45
deb g 6s
1 9812 9852 Pere Marquette
9812
t' Denver Eaten
11
41
104
:
paen
1c0
414 J
0
73
0
0812
1,
1927 M-N
1919 J-J
Repub Valley 1st s f 6s
Nebraska Eaten 4s
994 Feb '11
S
M1921
1952
-3
J
5s
4s
cons
h
1st
Elec
Wst
Savanna
'•B&S
--1
3 104 l041
863
4
4
863
Sale
8634
Sale
104
1049
J-J
1030
F-A
;is
g 5s
831 91
7Illinois Div 3
3 10034 10134 Seattle Elec 1st
901
101
8012 Sale 90
5s 1915 J J 101 10112 101
1919
Shannon-Ariz 1st g Os
Chic Jct By & Stir Yds
5 89 91
89
97 Apr '07............
89
Sale
89
A-0
43_1040
g
1929
g
J-J
g
refundin
5s
Elec
Haute
trust
Terre
Coll
4 994
993_
_
_
'11
'12
Jan
Feb
114
9934
0
J-J
1918
S
D
•
------Torrington 1st g 5s
Oh Milw & St P Dubdly 6s192
Mch'12 ___ 10012 100%
1135 Feb '11
6s 1920 J J ---Union Pax RR & 1 gr g 4s_..1947 J-J ---- ---- 10012
Oh M & St P Wis V
99 9
_
'11
Dec
99 Jan '12
10318
____
1931
1927
111-N
J-J
53..
gu
4s
1st
cony
Mich
-year
No
20
Oh Ss
98 101
98
9612 11 -9-55,-s 16%
98
9614
1923 J-J
1921 J-D
United Fruit gen s t 4 54s
Chic & W Mich gen 53
1 9534 9613
9712Sep '11
9578
954
1925 J-J
Debenture 454s
Concord & Mont cons 4s__ _1920 J -D
11 10153104
'09
1034
Aug
10253
10014
*§We
10253
1963
1924
5s
M-N
Apr
g
55
1st
(The)
10-60-yr
Co
U S Steel
Cudahy Pack
3 9913 9918
4 9914 103
6618
100
6618
100
1915 F-A
1928 A-0
Current River 1st 5s
8614 8014 West End Street By 4s
'12.._ __ 10014 10014
1914 M-S
-- 10014 Feb
1946 A-0 8512 ___ 8614 Feb '12
Gold 4 ;is
Det Gr Rap & W 1st 4s
09
____
9834 9914
'10
Apr
99
9812
1916
1940
.11-N
11-N
at
5s
4s
1st
re
Gold debentu
Dominion Coal
_
10313 Apr '05
9812Nov'11
1917 F-A
1015 111- S
Gold 48
Fitchburg 4s
10014 38 991310012
96 Apr '08
J-J 10914 S
- ire 100
1927 M-S
4s
9358
2 1271212712 Western Teleph & Tel 58__ _1932
12712
____
'12
12712
9338
Feb
935R
Sale
12712
9
J-J
A-0
1933
45_194
6s
Treint Elk & Mo V 1st
127 12712 Wisconsin Cent 1st gen
127 Mch'12
1933 A-0
j Flat price.
, Unstamped 1st as
Friday; late3 bid and asked.
price
No
•
Bonds.
Boston
all
for
price
purchase
addition to the
NOTE.—Buyor pays accrued Interest In
ia-4 -874
Daily, Weekly, Yearly
Philadelphia and Baltimore Stock Exchanges—Stock Record,
sea
Share Pricss—Not Per Centtun Prices
Monday5
Saturday ffaorVal
Tuesday
March 26
*10714 ____
110
*____ 111
1038
*1014 1038 1014
1014
0414
64
63
63
63
{ 12712 12712 12712 12712 128
25
24% 2458 2412 25
4714 48
4834 4534 47
20
1973
1958
1912
I. 1912
2 *____
I *4414 4454 4414
4214 9214 4214
1214 *12
*12
x55
56
. 56
2114
22
22
6218 6278 62
2
4912 4412
9212 4212
1214 *12
5533 5412
2112 22
6258 6238
IVednesday
March 27
Friday
March 29
103 *106 108 *10612 10712
1081f.
110 110 *___ 110 *10914 110
110
1014 1014 *1018 1038
10:4
1033
64
*63
64
6414 6314 6314 *63
12812
12812 12812 12812
12814 12812
128
25
25
25
2514 25
2514 25
4934 4914 4912 4912 4934
4912 49
197g
1978
20
20
20
2018 20
2
4412 4938
4234 43
1214 *12
5412
55
*2112
22
625, 6258
441:
4214
1214
55
22
6234
554 2934
IS/1-2 2934 -2-63q 2934 -21;- 89
8914
8858 8834 8912 8858 89
8234
82
8312
4
3
82
• 8314 8312 8394e 8334
1213 1134 1134
12
1214 12
12
12
29
29
2938
20.'3
2912
2912
2912 2912
6238 611318 6218
6214 6233 6238 021: 62
5412 5412 *8414 5434
55
5934 55
54
18
18
18
1818 18
18
18
18
23
2318 23
2314 *23
2318 *23
23
8012 8014 81116
7931s 793io 7934 8053 80
8116
8
Sig
8
8
8
8
5012 5012 5038 5012
5014 50% 5014 51
8812
8814
8812
4
,
88
881:
8812
8812
8814
;io"
8858
PHILADELPHIA
Thursday
March 28
Week (For Bonds and Inactive
Stocks 369 ba0W)
Shares
Bid
Ask
Baltimore
Con Gas Et L & Pow_100
100
prof
Do
57
225 Houston OIL tr ctfs_ 100
ctts_100
tr
pret
Do
1,165
50
103 Northern Central
3,401 Seaboard Air Line_100
100
pre.:
Do
4,048
2,811 United By & Electric.. 10
Philadelphia
50
American Cement
*112 2
2
n Railways_ 50
America
112
4438
*44
4412 4438
50
Steel
Cambria
9458 13,958
4312 4431 44
10 Electric Co of America 10
*12
1214 1218 1218
_100
Battery
Storage
Elec
1,339
5434
*5414
5412 5473
800 Gen Asphalt tr ctfs__ _100
*2112 22
22
22
pret tr ctfs_100
Do
6212 6258 6212 6278 1,633
Keystone Telephone_ 50
*612 7
1,782 Lake Superior Corp 100
- 672 2915 2912 30
585 Leh C & Nav tr ctfs„ 50
8814
8814 88
88
50
8214 8238 •8214 8212 1,391 Lehigh Valley Transit 50
2,790 Lehigh Valley
12
12
1134 12
50
pret
Do
417
2912
*29
291:
*29
50
6134 62 61 1510 62116 1,688 Pennsylvania RR b) _ 50
435 Phlladel Co(PItts
5433 5.112 5412
54
phia
25
Philadel
Elecil
4,968
18
1734
18
18
50
2318 1,524 Phil B T vot tr ctfs
23
23
23
50
7978 80"1. 807t8 8034 19,805 Reading Mining
1
Tonopah
738
4,728
81is 818 x'158
50
5018 5014 5014 5038 1,583 Union Traction
5u
Impt
Gas
Union
8
1,757
875
58712
8812
8838
PHILADELPHIA
Bid
Ask
PHILADELPHIA
Range for Previous
Year (1911)
Range Since
January 1
ACTIVE STOCKS
Lowest
Highest
96 Jan 3 111 Mch 4
101 Jan 2 115 Mch 7
814 Jan 3 1073 Feb 14
5334 Jan 23 6414 Mch 26
127 Feb 28 12812 Jan 17
2514 Mch2
2212 Mch
4512 Mch 14 4934 Mch27
1814 Jan 2 21 Feb 1
Lowest
Highes:
64 Jan
89 Jan
7 Mch
45 Feb
121 Jan
20 Jan
33 Jan
1612 Jan
9512 Dec
101 Sep
10 Aug
79 J'ly
13034 J'ne
27 J'ne
N oyv
1,78 jl
50
Jan
5 Nov
7 Jan 10
2 Feb 9
71 Nov12
16
4
42 Jan
4414 Mch 7 4512 Feb 1
4
214
en
183
3J
Fa
b
4078 Sep
4112 Mch 2 4434 Mch 28
1112 Jan
1178 Feb 2 1214 Jan 29
J'ne
5618
Jan
4813
•
Mch21
5234 Jan 10 5034
3991184
2812 Aug
20 Mch 9 3314 Jan 3
8378 Jan
68 Aug
60 Mch 9 73 Jan 3
Jan
Dec
658
8
612 Mch 1 81us Jan
32 Feb
2112 Sep
2714 Jan 3 30 Feb 23
Jan
98
J'ne
8312
3
Jan
9014
20
Mch
87%
7534 Sep 93744 Dec
7818 Feb 5 9278 Jars 16
97 Oct
614 Jan
812Jan 3 1214 Mch25
25% Oct
1813 Jan
23 Jan 12 2912 Mch22
65 Feb
5938 Sep
611,0 Jan 27 6212 Mch21
4814 Sep
51)12 Jan 11 - 5614 Feb 16
Nov
1512
2
Jan
1678 Jan 2 1834
e
ulnYg
A:
8148 jj
4
519
2
17 Apr
2234 Mai22 293g Jan 25
8034 Feb
7414 Jan 11 811ie Mch 27 6615,6 Sep
Jan
858
J'ly
512
26
818 Mch
854 Jan 11
852034
43 Jan
4934 Feb 28 5214 Jan 26
Jan
8414 Sep
8614 Jan 9 89 Mels 15
Bid
BALTIMORE
Bid
Ask
By Ext&Imp :is '32 M -S
..„..
Ph &Head 2d 5s 1933 A-0
Bonds
s _ Chas City By 1t 5s'23 J-J
Inactive Stocks
Ex Imp SI 43 1947_A-0 16615s'99 M-S
Prices are all -and
Chas Ry G &
16
i
118
1
Q-F
10
1941_
g
58
American Milling
1
Teri:Wuinterest'
9934 City & Sub 1st 5s 1922 J-D
50 __ _ 44
(lambda Iron
col tr 4s '21__J-J
B
&
W
P
92
5s '48
)1st
-A
33F
.
10
Sub(Was
4
V
Elec
L
&
&
Alt
125 City
13s '33__J4
Central Coal & Coke 100 80 81
"ii" 8714 Read Trao& lst
Coal & C Ry 1st 5s'19 A-0
100 70 80 AM Gas & Elec 58'07_F-A
Preferred
9558 9V78 Roch By L con 53'54 J-J 10134 102 Coal & I By let ics'20_F-A
A-0
1917
55
ltys
Am
76
160
Consol Trac of N J
Spanish-Am Ir 6s '27__J-J
0:5
4:1:22 1- 9-° ::
-2
Col&Grny 1st 6s 1916 J-J 1.10
__- A• tl 0 Elec ref 55 1938..M-S
50 -- -- 120
Germantown Pass
Stan'd Gas & E 65'25 M-N
Berg&Blirew 1st 68'21 J-J
Consoi Gas 53 1939___J-D 109 10914
Huntington & B T_50
98
F lig - ____ Stand St1 Wks lst5s'28 J-J
-0
1998..Q6s
54____A
Steel
19
Bethleh
Gen
4342
50
Preferred
5s '19.J-J
gen
Ind
Trac
U
Cs
'
4
J
5
3
1949,14
1st
Me
Choc &
Cons GE & P 454s
Indiana Union Tr_ _100
2
041144
Un Rys Tr ctfs 48.49__J-J 7712
114 19
9°
1919 J-J LW'
Fair & Cl Tr 1st 53'38 A-0 10
10 2112 -213-4 C• h 011 & G gen 581st
Insurance Co of N A
5s '33 10412 ---_ United Rys Inv 1st colt ti &3 8314 Ga & Ala 1st con 53'45 J-J
2012 Con Tree of N J
N
__MInter Sm Pow & Chem_50
1926
5s
t
s
106
49J4
.
Mg,
4s
'29_J-J
ctfs
Car&N 1st 5 g
Del Co Rys tr
10
Interstate Rys, pret
4 Weisbach s f Os 1930__J-D 90 9012 Ga
88 -FIET1Tr tr etts__
Georgia P 1st 6s 1922 __J-J
Kentucky SecurItles__100 -id- ____ Bloc & Peoples53 1940_J-J ---WII-B G&E con 53.55_J-J
1:108
46•1
Fr Tac&H 1st
100
D 94 "g5" Ga So & Fla 1st 5s '45....T4
1937..J5s
. • Preferred
1st
Rys
York
05
-S
1916_M
---G-B-S Brew 3-4s '51_M-S
Gen Asphalt Os
Keystone Teton v t c___GO
-J
83 8338
A-0
1033__J
'28
48
58
By
1st
Trac
n
Knoxy
Indiana
50
d
Preferre
6412
BALTIMORE
64
MaconRyecLt 1st 53'53 J4 101 1017
___- Interstate 48 1943_10-A
Keystone Watch Case_100 96 100
Inactive Stocks
8312 83
Keystone Tel 55 1935_J-J
Md Elec By 1st 5s '31 _A-0
10 .1_7_ 18
t Brothers
_
____ Ala Cons Coal & Iron_100
76
53'24_0
Inc
Corp
Memphis St 1st 5s '45_J-J 97
Sup
Lake
50
ll
100
Little Schuylki
Preferred
614
79
2 9
4
Lehigh Nay 454s '14 Q-J
270 Mt Ver Cot Duck 1st 5s__ ..
-100
Inehill & Schuyl IL...50
L
(Conn)
t
aso
AtialatnonCco
ca
jai.,,_
Npt N &0P 1st 53'38M-N
Gen M 434s g 1924_Q-F
150
-S
ii
100
Nat Gas Elea Lt & Po..100 20
8934
10014
109
J-D
5s'36
1st
Tr
t
g
1933-J4
5s
Nor&Por
1st
0
V
Leh
100
70 ::::
Preferred
Georgia Sou & Fia__100 35
_J-D ------____ North Cent 4;is 1925_A-0
100
North Pennsylvania. O0 9678 ___ Leh V ext 43 1st 1948 J-D
1st preferred
iiiSeries A 52 1926__ __J-J ---- ---50 12334 124
Conseil Os 1923
98 90
NO 89
ennsylvania Salt
preferred
2d
-D
1923_J
Series B 53 1926_ _ _ _J4 ---212
Consol
454s
1
10
ennsylvania Steel ___100
Brewing
G-B-J
2
1461---4
Os
1997__J
J-D
---2514 P:tt Un Trac
Annuity as
100 166100 25
Preferred
14 Seaboard Air Line
.
97% _9_8
Gen cons es 2003 51-N
i'ii2
100 4958 50 Poto Val 1st 53 1041__J-J ---Phila Co (Pitts) pref_50 44
Preferred
• Say Fla & West 5s '34 A-0
151 152 Leh V Trau con 4s '35 J-D ---Bonds
Phil German & NorrIs_50
-8118712
A-0
Scab Air L 4$ 1950___
50 83
1st series A 4s 1035_M-S
8312
Prices are all "and
Phil& Traction
Adjust 5s 1949__F-A 80
•
10 10
1st series B 5s 1935 M-S ____ 10278
interest"
Pellways General
98
.
.._....:..
-J
M-N
5s
1926__S
45'55
97
1st
&
Roan
Seab
-fa - MarketStEl
Tonopah Belmont Dev__1
... Balt City 3)4s 1930__ _J-J
1_0_0
South Bound 1st 5s.._A-O
NatLII&P ser B 5s '19 J-J
United Cos of N J100 89
4s 1954-1055___Various
L&P 1st 4;0'29 M-N 95
U
New Con Gas Os 1948_J-D
11-N
1916
United Trac Pitts pref_50
Cs
2
-titil-4
J-J
39
.
4s
0 48
Un By & El 1st 45 '49 M-S 85% g1N Y Ph & No 1st
5s A-0
Potom
&
a
Virginia By & Pow10
Anacosti
III-N
43 1949___J-D 6912 64%
1939
48
87
Income
Income
100
1031
4sM-N
10234
--deb
cony
AtCoast L
Preferred
8713
87
J-D
1936___
'39_A-0
5s
5s
Can
Y
10
N
.10
&
Funding
Pa
--_Warwick Iron & Steel
AU Coast L(Ct)ctts 55 J-D
54 Penn Steel 1st 5s '17_31-N
Va Mid 3d ser 6s '16__M-S
Ctfs of indebt 45____J4
Washington-Va Ry.-100 7512
People's Tr tr etre 43 1943 -92- - -923-4
4th ser 3-4-5s 1921_M-S
100
J-J 92 93
5-20-yr 45 1925
Preferred
10334
10314
MnS
397
53'49
tr
Co
lst&coli
P
5th series 53 1926_ _M-S
100
Welsbach Co
B S P & C 1st 4;is'53 F-A 9634 9712
9712 98
—
Con & coil tr 55 '51 M-N
(State) Sc new '32_J4
Va
N
Os
'29__M1st
Trac
West Jersey & Sea Sh_50 --_. ...„
Balt
tr etts_A-0 10312 104
gold
Phil
Eiec
Fund debt 2-35 1091 J4
_50
Coal___
J-D
No Bait Div 53 1942
Westmoreland
-4
i63
Trust ctfs 4s 1949 __J-J 82 8214 Car Pow & Lt 53 1938 F-A
West N C con 6s 1914,14
100 ..._ _—
Wilkes Gas & Elec
111
10612
iffil
P 63 E gen M 5s g '20_A-0
Wll & Weld Os 1935___J4
50
York Railway
10014 Cent Ry cons 5s '32 _ _M-N
60
1
.
A-0
1920
g
45
Id
Gen
4
323
32
50
Preferred
I $15 paid. t $1334 paid.
Hz-divas rights.
• Bid and asked: no sales on this day.
7977
-
904
THE CHRONICLE
[VOL. Lxxxxiv.
Volume of Business at Stock Exchanges
Ferry Companles-(Con.) Bid Ask Indust and Miscell-(Con
.) Bid Ask
N Y & B It Ferry stock_100
8
15 Casualty Co of Amorica_ 100
00 LI 130
1st 58 1922
11-N 45
55 Celluloid Co
142
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
N Y de Hob 5s May '46__J-D 99 _....___ City Investing Co
100 53
55
DAILY. WEEKLY AND YEARLY.
Hob Fy 1st 5s1946 M-N 10434
Preferred
101 100 101
NY &NJ 5s 1946___J-J 9
25
7 -3
-5_ _ e Minn (H /3) Co com_1
10
00
0 0
90 102
10th & 238 Sts Ferry_..100
e 1st preferred
Stocks.
93
Railroad,
1st mtge 5s 1919
J-D 57
65
e 2d preferred.
Week ending
100 90 94
Slate
U. S.
Union Ferry stock
100 22
24 Consol Car Ileating____100 57
March 29 1012.
Shares.
Par Value.
60
Bonds.
Bonds.
Bonds.
1st 5s 1920
M-N 97
99 Consol Rubber Tire__ __100
0
10
Short-Term Notes
Saturday
Preferred
100 40
461,453 $44,035,300 $1,881,000
50
$38,000
Amal Copper 58 1913__A-0 10038 10034
Monday
Debenture 4s 1051
1,119,767 100,963,700
A-0 /56
59
3,158,500
59,500
Bait
&
Ohio
4;is
1913_J-D 10018 10038 e Crucible Steel corn....100 12
Tuesday
1214
008,953 84,457,800
4,461,000
51,000
$2,000 Bethleh Steel 63 1914 M-N 10058 1011s
Wednesday
e Preferred
100 8212 8234
960,825 85,078,150
3,116,000
115,000
1,000 ()hes & Ohio 410 1914._J-D 99.4 9912 Davis-Daly Copper Co___111
*1
Thursday
118
812,847 75,182,450
3,270,000
64,000
Chic
de
Alton
55 1913 ___M-S 0.314 0058 e Diamond Match Co___100 110 111
Friday
624,211 56,153,100
3,823,000
49,000
30,000 Chic Elev Rys 53 1914 __J-J 9814 9312 duPont(I)
162 105
Ham
CM
dc
D
9912
4s
100
1913.__J-J
Total
e
Prelerred
de Nem Pow 10% 9034 05
4,886,056 $445,000,500 819,887,500
$376,500 $33,000 Erie 89 April 8 1914A-0 101 10114
e Gold 43is 1936_ __J-D 9012 91
Coll 5s 1914
A-0 9278 10018 Empire Steel de Iron corn 100 10
15
Sales at
Week ending March 29.
eGeneral Motors 65 '15.A&O 100 10018
Jan. 1 to March 29.
Preferred
43
100 36
New York 8.1ock
Hudson Companiese General Chemical com 100 130 135
Exchange.
1912.
1911.
65 Feb 1 1913
1912.
F-A 9034 100
1911.
I
e Preferred
8 108
120
00 12014
68 Oct 15 1913
A&015 0958 9978 Greene-Cananea
912
Stocks-No. shares_ -4,886,056
1,322,277
32,218,584
27,434,611 lot & Gt Nor 6s 1914 F-A 9734 9814 Guggenheim Explorn_100 205 215
Par value
6445,900,500 5122,080,500 $2,800,830,550 52,429,080,350 Inter Harvester 58 '15_F&A 10058 10078 e Hackensack
Water CoBank shares, par
$13,400
5108,300
K
Ry
&
$231,300
Lt
65
1912
M-S
97
9712
$636,100
Ref g 4s'52 op 1912___J-J 8012 8818
Bonds.
Minn & St L g 53 1913 F-A 95
90
Hall Signal Co corn.
100
12
8
Government bonds
$33,000
811,000
5587,000
$68,500 Mo Ran & Tex 5e I913.M-N 9912 9934 Havana Tobacco Co ____100
7
3
State bonds
376,500
1,038,000
Missouri
Pacific
6,240,000
5s
1914_J-D
9578
9814
36,223,500
Preferred
10
12
6
RR. and misc. bonds_
19,687,500 12,941,500
226,585,500
194,072,000 Nat Rys of Mex 4;is'13.J-D 9734 981.,
1st g 53 June 1 1022 J-D / 64
67
eN YC Lines Eq 59 1912-22 84.45 414 Ilecker-Jones-Jewell
Milling
Total bonds
$20,097,000 $14,040,500
4;is Jan 1913-1925_ __J-J 84 46 4.20
$233,412,500
$230,364,000
1st 68 19
M-S 102 104
45s 1913-1927
J-.1 5412 4.30 Herring-Hall-Marvin _ 100 10
20
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
N Y Cent 43s 1914
10014 10012 Hoboken Land & Improve't
EXCHANGES.
St L & S F 53 1913_ __M-S 9978 10018
1st 58 Nov 1930
M-N
103
105
5s June 1 1913 opt
J-D 9958 0978 Hocking Val Products_100
912 1012
South Ry g 53 1913 _ __F-A 10014 10012
1st g 55 1961
J-J 59
62
Boston.
Philadelphia.
Tidewater as 1913 guar_J-I) 10118 10112 Houston
com
011
etls___100
1Veek ending
loss
1018
Wabash 410 1013_
M-N 94
97
Prof ctfs
105 63
March 29 1912.
6312
Listed Unlisted
Bond
Listed
Westingh'se El & M 6s 1913 10114 10134 e Ingersoll-Ran
Unlisted
Bond
d corn_ WO 100
shares, shares.
sales
shares,
shares.
e 5% notes Oct 1917_A-0 9612 08
sales.
e Preferred
100 97
Railroad
Inspiration Consol Cop.__20 *1034 1973
•
Saturday
28,788
20,635
850,000
8,389
4,706
833,000 Chic Subway 3d asst pd_100
312 412
Rub corn_ _100 1714 19
Monday
69,948
32,150
88,000
19,301
11,684
Northern Securities Stubs_ 100 105 Intercontin
59,600
Internal Banking Co .J00 8712 90
Tuesday
52,691
33,804
141,600
13,704
14,618
76,700 Pitts Bess & Lake Erie_50
International
p a
etio
enal Nickel__ _00
290 300
Wednesday
_1
62,200
61,727
103,000
14,879
Preferred
13,710
78,400
*60
50 *3°
36
70
0 02
Thursday
A1-00
100 104
41,100
35,143
76,500
15,154
16,374
c Railroad Securities Co88,100
1st g 55 1932
Friday
101
46,500
47,100
126,500
11,063
7,403
ll! C stk tr ctfs Ser A.... 8612 8814 International
31,800
salt
A
100
0 f 46
2
-4
West Pac 1st 5s 1933 _51-S 88 8838
1st g 53 1951
Total
301,227 230,450 8590,800
4812
80,490
68,555 5307,600
Standard 011 Stocks
international Sliver corn 100 100
Anglo-American 011
£1 *1412 1434
Preferred
100 120 130"
Atlantic Refining
100 440
1st as 1948
J-D 110 112
Borne-Soryrnser CO..
100 230 260 Internat Smelt &
123 128
Buckeye Pipe Line Co...50 .128 138 Jones & Laughlin Refg_100
Steel
Co
All bond prices arc now "and interest" except where marked
Chesebrough Mfg cons, 100 680 700
1st s f g 5.9 1039.
111-N
10078
10114
Colonial 011
100 130Kayser (Julius) & Co._100 66
67
Continental 011
100 830 ggiiStreet Railways
1st preferred
Bid Ask
Street Rail ways-(Con.)
100 10612 107
Crescent Pipe Lino Co._ _50 .
56
62 e Lackawanna Steel.. 100 -- 2934
Cumberland Pipe Line _100 95 105
New York City
e 1st con 58 1950
M-S 7112 78
Wash Ry & El Co
•
100 88 92
Eureka Pipe Line Co
100 305 320
Bleeck St & Fla Fy stk_100 22
e Deb 58 1015
20
Preferred
9138
100 98
9638 Galena-Signal 011 corn _100 200 212 Lanston
1st mtge 45 1950
J-J 66
Monotype
70
M
4s 1951
100
-8 00
114 92
J-D
8614 8012
Preferred
100 132 142 Lawyers' Ditge Co
13'y & 7th Ave stk
.
100 160 170
100 221 225
Indiana
Pipe
Line
Co
____50
*90
2d mtge 5s 1914
112
Lehigh
Val Coal Sales_100 235 236
J&J 9934 1001, Electric, Gas & Power Cos
National Transit Co
25 *37
40 Leh & Wilkes-II Coal__ __50 300
Broadway Surface RRNew York City
New York Transit Co....100 300 320 Madison Sq Garden.
1st 54 1924
J&J 102 104 Cent Un Gas 53 1927_ _J-J 102 10312 Northern
100 51
68
Pipe
Line
110
Co_
100
130
Manhattan
Cent Crosstown stock 100
Transit
5
2
10 e Kings Co El L & P Co 100 12912 13112 Ohio 011 Co
25 *92 95
MonongahelaR Con C&C_2
1st intge as 1922
M-N f 85
5
°
0
91 New Amsterdam Gas*
0
77
13
8
4
Prairie
Oil & Gas
100 270 290
Preferred
Con Pk N & E Ely stock.100 10
50 *32
10
1st consol 5.1 1948
J-J 10212 10312 Solar Refining
100 815 650
Mortgage Bond Co
Ctiristopher&lOth St stk 100 125 140 NY&ER Gas 1st 53'44 J-J 10112 108
100
109
112
Southern Pipe Line Co 100 180 200 e National Surety
Dry Welt E B & B100 1215 225
Consol 53 1045..
J-J 101 103
South Penn 011
100 660
e New Central Coal
1st gold 53 1932
20
J-D 100 1011 eN Y Mutual Gas L
100 173 177
Sou
West
Pa
Pipe
160
Llnes_100
180
e
New
York
Dock
Scrip 58 1914
corn
__100 201:: _
F-A f 47
51 N Y & Q E1L & Pow Co_100 55
60
Standard Oil of Calif_..100 170 180
e Preferred
Eighth Avenue stock_ 100 275 310
100 40
Preferred
55
100 75
85
Stand Oil of Indiana....._100 xy220 230 N Y Mtge & Security. 100
Scrip 63 1914
F-A f 09 1001 N Y & Richmond Gas
210 215
100 37
48
Standard Oil of Kansas.100 250 275
N Y Transportation
428 dr Or St Fy stock. ,.100 285 311) North'n Un 1st 5s 1927 111-N 101 103
20 4,---Stand
Oil
of
Kentucky 100 500 800
42d St 51 & St N Ave.. _100
Niles-Bern-Pond corn...100 88
_ _ --_. Standard Gas L corn_ ..100 60
110
Stand 011 of Nebraska 100 200 250
28 income 63 1915____J-J 1 65
Niptssing Mines
Prelerred
5 a**8
81s
100 95
Stand 011 of NJ (old).. _100
Ninth Avenue stock ____100 150 175
Ohio Copper Co
.
1st 5s 1930
10
*15
8
M-N 10412 100
134
Stand 011 of N I
1735726° 355 e Ontario Sliver
Second Avenue stock.._10
7
12
100
Other Cities.
134 2
Standard 011 subsidiaries... 400Otis Elevator corn
Consol 55 1948..F-A! 40
45 Am Gas & Elect corn
100 76
7812
50
84
Standard
011
of
N
Y.
325
..100
iSSe Sixth Avenue stock_ __100 128 135
Preferred
100 10012 10212
Preferred
50 *47
48
Standard 011 of Ohio_ _100 8
15
70
8 1000 Pittsburgh
Sou Booby 5s 1945
p
J-J 78 82 Am Lt & Trao corn
Brewing
50 *978 to
100 300 303
Swan & Finch
100
So Fer 1st 53 1919
A-0 00
50 *39
93
3i,34
Preferred
100
107
109
Union
Tank
LineCo
100
55
65 e Pittsburgh Steel pref _100 10114 102
Tarry WP & .51 53'28 _M&S f 70
80 Amer Power & Lt corn _ 100 72
74
Vacuum 011
100 130 14J
28th & 29th Sts 55 '96__A-0 f 20
Pope Mfg Co corn
100 40
25
43
Preferred
100 86
Warrants
8712
*23
32
Twenty-third St stock __100 230 250 Bay State Gas
•
Preferred
100
78 80
50 *ate
12 Washington 011
10 15
25 Pratt & Whitney pref_100 08 10212
Union Ry 1st 5s 1042__F-A 10212 104 Bingh'ton (N Y) Gas Wit
Waters-Pierce Oil
100220
010
Producers
011
Westchester 1st 5s '43..J-J 70
0 05 100
80
1st g 5s 1938
A-0 07 100
Tobacco Stocks
Realty Assoc (liklyn) _100 11312 115
Yonkers St RR 5s 1940_A-0 85
93 Buffalo City Gas stock __100
234 4
(See also Stock Exchan.geList)
Royal Bak Powd com___ LI
Brooklyn
203
Cities Service Co corn_ __100 89
91
e American Snuff com_100 125 128
Preferred
Atlan Ave RR con 55'31A-0 101 102
°
I) 11
96
0 112
Preferred
100 83
8412
e Preferred
100 105 108
Rumeiy (51) Co pref.._ _100 9934 100
BB&WE 5s 1933 __ __A-0 96 100 Con Gas of N J 5s 1936__J-J 96 100
e
Preferred
(new).._ -100 102
Safety Car Heat & Lt.__100 119
Brooklyn City Stock.....10 160 105 Consumers' L H & PowBritish-American Tobac_£1 *2112 "ills 0 Sears, Roebuck & Co _100 15512 121
Bklyn llgts 1st 5s 1941_ A-0 98 102
156
55 1938
J-D 100
Conley Foil
e Preferred
Bklyn Queens Co & Sub212
10
23
100 2
Denver U & El 5s 1949..M-N 9614 9614 e Heime (Geo W) corn 100 280 290
_100 155 170 Singer Mfg Co
e 1st g 5s '41 op1916_5-J 98 101 Elizabeth Gas Lt Co__ _100
297
e Preferred
100 106 112 South Iron & S corn ____100
e 1st con 59'41 op'16 M-N 9812 981 Essex & Hudson Gas,,..100 300
1
2
138
- Johnson Tin Foil &Metal 100 160 175
Coney Is! & Bklyn
Preferred
100
2
100 75 80 Gas & El Bergen Co._ 100 85
4
90
MacAndrews & Forbes _100 180 100 Standard Coupler com__100 30
1st cons g 4s 1948_ __J-J 80 85 e Or Rap 0 L 1st 5s
40
'15..F-A 100 101
Porto-Rican-Amer Tob_100 236 245
Con g 4s 1955
Preferred
100 105 110
J-J 77
82 Gr't West Pow 58 1946 J-J 85
8512
Reynolds
J)
(R
Tobacco.100
210
215
Brk C & N 5s 1939_
e Standard Milling Co. 100 20
90 100 Hudson County Gas. 100 139 142
21
United Cigar Stores Corp100 190 192
Nassau Eleo pref
100 50
e Preferred
100
62
e 1st 5s 1949
M-N
10512
Weyman-Bruton Co _100 180 19014
1st Si 1944
M-N
A-0 101 103 Indiana Lighting Co_ _100 10458
e 1st 5s 1930
88
38
45
Preferred
e
110
100
114 Studebaker Corp com__100 -if - 41
N Wmsburg & Flatbush4s 1958 opt
F-A 7212 74
Young (J S) Co
1st 4 As July 1941 __F&A 00
100 165 175
Preferred.
100 9
94 Indianapolis Gas
98
50 18
25
Steinway 1st 65 1922_ __J-J 102 105
Sulzberger & Sons Co PLISS 11/1 101
1st g 5s 1052
A-0
70
80
Industrial
and
Miscellaneous
Other Cities
e Texas Company
05
Jackson Gas 5s g 1937 A-0 07 100
Adams Exp g 4s 1947J-D 118
27
613 8712 Texas & Pacific Coal. 10
Buffalo Street Ry00 12
90 102
eLaclede Gas preferred _100
Alliance Realty
117
112 14
100 .4
26
212 e Texas Pacific Land Tr_100 89
1st cam.' 55 1931
F-A 105 10512 Madison Gas 63 1026
93
A-0 104 1.66
Amer Bank Note corn __50 .
Deb as 1917
iln
of
,No
nh
sC
la
itnleop
5113 53 T0
A-0 10434
126
Narragan (Prov) El Co
*x90
50
93
Preferred
50
(NNeYvada).1.0.0
e Conn Ry & Ltg com__100 79
1 *
818
25
Newark Gas 63 Apr'44_Q-J 128 128
114
American
Book
170
100
180
Potteries
e Preferred
com
Trenton
_
100 81
Newark Consol Gas
8
..
100 06
eAm Brake Sh&Fdycom 100 0434 96
Preferred new.
Federal Light & Trac.__100 37
12
40
e Con g 53 1948._ _J-D 106 55
e Preferred
100 133 13414
Directory.
Preferred
100 79
81 No Hudson L H & Pow40
American Brass
100
128 c union Bag & Paper_ 1(
o Loulsv St 55 1930
0
)
(
0
) 57
J-J 105 1051
53 1938
714
A-0 100
American Chicle corn. _100 222 228
o New On Rys dr Lt corn 100 34
e Preferred
Pacinc Gas & B corn...,100 67
-6712
Preferred
100
103
Typewriter
e Preferred
107
Union
corn
.12
1,
2
100 7812 821
Preferred
40
100 91
92
Am Graphophone corn _ _100 15
sN Y Westoh & Bost I1yed
feetrerrerd
Pat & Pas Gas dr Elec_100 93
100
95
Preferred
100
1st g 410 1946
J-J 9913 0914
100 101 103
c Con g 55 1949
11I-S 10312 10412 American Hardware
13
62
6 131
e Pub Serv Corp of N J-See Slit E x list St Joseph Gas 65 1937 ___J-J
66
pprC
21dstted
erigar Mfrs corn _100 56
UnI
0612
90
94
Amer Malting 63 1914.,_J-11) 100 102
Tr Ws 2% to 6% perpet 110 111 Standard Gas & Elec(Del).50 *24
e Preferred
0
100
0 105
114 108
25
Amer Press Assoe'n _100 80 85 United Copper
North Jersey St lty_100 85
90
Preferred
50 x*52
5312 Am Steel Fdy 6s 1935.A-0
09
10012
1st 45 1948
Preferred
.
M-N 8334
1 34
United Electric of N J. 100 90
05
Deb 45 1023
F-A 60
Cons Tract of N J____100 78
6-1
e United Dry Goods_ _1
00 100
10
77
6 10112
1st g
J-D 8312
1949
American Surety
Ist 5s 1933._ _ J-D 104 105 Western4s
e Preferred
100 10434 10512
Power corn__ __MO 3412 3512 American Thread pref.. 50 285
Naw'k Pass Ry 53 '30.J-J 10712 1081, Preferred
*412
514
U
S
Casualty
10
5
)0
0 20
1(
0
100 6012 01
Amer Typefounders coin.100 48
Rapid Trot). St ay_ __100 235 240
52
U S Envelope corn
Preferred
let 51 1921
100 09 101
Preferred _
A.0 102
100 115 fir
Telegraph and Telephone
Deb g 65 1939
111-N
J C Elob & Paterson100
102
U
S
Finishing
100 Si) 05
e Amer Teleg dr Cable.., 100 78
8012 Amer Writing Paper..__100
45 g 1949
112 214
Preferred
11I-N 8234
100 103 108
e Central &
Amer 100 x120 122
elst s f g 55,19 red 105-J-J 8814 8834
So J Gas El & Trac100 125 130 Cornml UnSouth
1st g as 1919
J-J 100 105
Tel(N Y)__25 108 115
AU Gulf de W 188 Lines_100
Go g 5s 1953
712 3
M-S 91) 9934 Empire & Bay State Tel_100 65
Con g 5s 1929
100
76
Preferred
100 1512 17
No Ilud Co Ry 63 1914 J-J 102 ____ Franklin
e U S Indust Alcohol--1
1 1 35
0
-01 3
3
100
40
50
Coll tr g 55 1939
Con 2.1 58 1928
J-J 67
68
0 Preferred
100 100 102
J-J 103
e Gold & Stock Teleg_ __100 110 123
Barney & Smith Can com100 10
Ext 5s 1924_____M-N 98
25
U S Steel Corporatione Northwestern Teleg__50 110 116
Preferred
Pat Ry con 65 1031_J4) 114
100
90
Cols f Apr 54 1951.
7_
11212
& Atlantic
65
75
Bliss (E NV) Co corn
28 63 1914 Opt., A-0 100 fed ePacille
50
85
Col s 1 Apr 151; 1951 not
!o
im
lpo
it 11:10
2
134 11314
Poe Telco 4Se Teleg pref _100 59634 Preferred
Republic Ry & Light
50
12212
127
100 30
U 8 Tit Cu & Indem
31 Southern & Atlantic......25 90
100
95
Bond
Mtge
&
Guar
-----100 295 103
Preferred
100 79
Westchester & Bronx Title um
80 South Bell Teiep & TangBorden's Cond Milk com 100 123 125
Trent P & H 53 1943.__J-D 97
& Mtge (Juan
G
1st g 5s 1041 op 1916.J-J 9034 10014
160
Preferred
United Rys of St L100 108 109
Westingiese Air Brake._.50 *105 168
British
Col
Copper Co._..5
Cons vot tr ctfs
100
518 51 1 Woolworth (F W)
1234 131
Ferry Companies
78
Casein Co of Amer com _100
e Preferred
214
100 4•134 45
Preferred
234
CO
10
00
0 7 112 11012
& N Y 1st 6s 1011_
94 100
Preferred
100 50 53
Worthington(HR1Co p1.100 107 110
•Par share. b BaLe. 6 SdLs oa 8oit Etehalle 330
saM-rec):1 on a precoli57 pa;, / Fiat price. a Nominal. s
Sale price. t New stock. x Ex-div. y Ex-rights
Inactive and Unlisted Securities
53
so
111
905
THE CHRONICLE
MAR. 30 1912.]
Anuesttnent and igaitrorati intelligence.
RAILROAD GROSS EARNINGS.
weekly or monthly returns
gross earnings of every STEAM railroad from which regular or
month, and the last two
The following table shows the
the gross earnings for the latest week
give
figures
of
s
column
two
first
add a supplementary
We
month.
can be obtained. The
or
week
ng
period from July 1 to and includi such latest
columns the earnings for the year totals of those roads whose fiscal year does not begin with July, but covers some other
statement to show the fiscal
railways are brought together separately on a subse2uent page.
period. The returns of the electric
Latest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
Latest Gross Earnings.
July 1 to Latest Date.
Current
Year.
Previous
Year.
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year.
4
$
68 41,325,715
$
$
$
NH & Hartf__ February _ 4,848,962 4,182,774 42,695,5
Ala N 0 do Tex Pao297,472 2,550,954 2,457,848 NY Ont
5,426,517 5,639,242
334,589
681,841
February
649,183
East_
__
&
January
West___
N 0 de Nor
6 1,247,146 N Y
8 2,516,254
1,162,55
2,617,22
138,310
310,652
140,141
_
February
Al & Vicksburg__ February _ 128,079 112,404 1,019,004 1,061,724 N Y Susq & West__ February _ 295,216 225,960 1,827,633 1,658,312
233,349
Vicks Shrev& Paz
70,017 Nor.ol c bout 'ern__ January
35 21,425,659
96,836
22,923,8
12,277
8
14,858
__
2,931,03
January
4
2,938,26
North__
January
&
Western_
00
Ala Tenn do
35,918 1,568,601 1,436,456 Norfolk Pacific_
44,004
3d wk Mch
_ February _ 4,252,028 4,058,532 42.651,370 44,792,0
90 Northern
2
Ann Arbor
Fe February _ 3,592,050 8,060,818 71,862,096 72,265,3 5 Pacific Coast Co..__ January
530,848 537,133 4,605,636 4,907,85
Atch Topeka & SAtl
61,959 2,424,072 2,093,30
94,942,121 94,268,256
64,114
Mch
wk
12359,831
3d
0
__
&
12780,39
January
Dirna
RR_
vama
Atlanta
70 Peansyl
17,623,4
83
177,659
18,534,5
0
177,813
2,700,48
7
__
2,737,99
12,914
9,526
Bait Chas & Attan January
Atlantic Coast Line January .. 6,802,614 5,913,933 60,295,120 50,323,126
1,731,528 1,869,460
Ohio_ February
Cumberland Vail_ January __ 231,480 232,945 6,500,71
996,603
g Baitimore &
3 6,102,181
92,412 1,024,010
99,890
..
666,358 637,069
January
Long Island
11 & 0 Cn Ter RR February __
1,952,621
87,884
0
1,776,76
90,074
278,256
283,135
6,224
k
4,817
Maryl'd Del & Va January __
Bangor & Aroostoo January
48
239,612 1,953,263 2,013,451
January __ 3,297,744 3,370,566 27,337,275 26,900,3
224,254
January
i
Non
&
Y
Phila
N
Boston & Maine
32,072
7,695,032
35,504
2
3,888
7,493,66
3,284
__
1,034,674
It
__
955,598
Saco
January
January
&
n
Bridgeto
Northern Central.
6,082,188 0,814,207
46 11,400,580
Phila Balt& Wash January __ 1,436,741 1,441,442 11,231,6 7 3,874,105
Buff Hoch & Pitteb.. 3d wit Mch 207,427 174,988
3,979,96
201,136 178,971 1,465,924 1,373,959
January __
Buffalo & Susq
W Jersey & Seash January -- 319,687 316,926
13,735,400 10,457,500
85 32,086,539
297,900
7
319,900
Mch
31,357,6
5
wk
3,683,50
3d
3,886,50
_
Northern
January
Canadian
PennsyLvania Co
3d wk Mch 2,471,000 1,972,000 85,775,955 73,500,433
358,949 395,477 3,045.454 3,121,448
Canadian Pacific
Grand Rap & Ind January
278,000 10,513,120 9,850,084
5 3,112,714 23,703,145 23,985,417
3,204,82
_
_
January
L
&St
Ch
Cin
Central of Georgia_ _ 3d wk Mob 290,300
Pitts
9 17,046,076 17,345,065
848,990 824,524 6,049,321 6,476,969
January
Central of New Jar_ January __ 2,303,370 2,294,54
Vandalla
3
January -_ 286,014 301,251 2,431,265 2,345,82
Total linesCentral Vermont
24,387,288 23,844,160
564,735
Mch
9 17101,106 136485,154 136026.250
wk
680,232
3d
17415,23
Lines_
-Ohio
January
E.
44
&
Pitts
Last
Chas
24 68,068,037
3d wk Mali 343,902 280,407 11,045,241 10,786,241
West Pitts & E January __ 8,390,717 8,099,171 66,783,3
Chicago & Alton
4 52,479,774 54,883,165
25805 957 25200 278 203268 481 204094290
-January
West
All
East&
Chia Burl & Quincy Jauuary __ 6,509,074 0,621,90
5
60 10,816.265
276,926 9,409,378 9,296,1;6
11,299,1
261,401
_
Mch
wk
1,103,331
6
3d
West_
1,048,23
_
Great
February
Chic
p
80,208
87,516
115,575 4,622,630 4,429,803 Pere Marquette
14,641
14,094
Chio Ind & Louisv_ 3d wk Mch 112,052
97,230 Raleigh & Southp't December..
162,306
19,135
19,765
Company
Chic Memph & Gulf January __
14
Reading
40,259,0
03
92 29,998,449
4,736,624 37,600,9
9
30,728,0
9
3,233,07
__
4,256,34
4
January
St
Paul
3,682,81
&
Miiw
February
Chic
Phila & Reading_
991,071 9,355,106 8,504,572
26,097,656 22,489,665
Ch Mil & Pug Sd_ January __ 931,238 5,602,971
February _ 4,031,462 2,306,915
Coal & Iron Co
51,620,739 52,966,566
48 32,486,114
vChic & North West February _ 5,969,651 1,186,269 10,396,889 11,379,113
February _ 7,714,276 5,530,994 36,825,7
Total both cos
1,274,380
vCille St Paul M & 0 February _ 1,153,936 146,919 1,136,161 1,309,534 Rich Fred & Potom January -- 197,440 181,401 1,366,842
616,110
629,402
177,955
__
62,050
January
67,261
January
Chic T H &SE
920,083
649,697 6,753,502 6,411,100 Rio Grande Junc
306,683
9,783
6,250
3d wit Mch
Cln Ham & Dayton February _ 697,155 139,906 1,197,334 1,256,563 Rio Grande South
85
46,709,4
24
43,873,0
5
4,864,79
4
5,033,61
_
Colorado Midland.. _ January __ 135,738 257,460 10,657,071 12,239,466 Rock Island Lines
February
1
2,092,33
233,008
0
2,078,64
Mch
wk
January __ 235,756 228,841
S Colorado & South 3d
98,520 Rutland
112,658
12,26.i
16,470
061,341 1,057,313
January
137,762
118,175
__
Isl..
('brawali
Grand
January
&
St
Jos
210,142
183,618
18
20,907
26,383,5
97
22,931
25,534,4
9
6
3,612,99
3,337,27
January
Cornwall & Lebanon January __
1,577,719 St Louis & San Fran
4 9,287,912
January __ 368,472 315,784 1,9 1,137 12,334,677
Cul), Railroad
I Chic & East Ill_ January .._ 1,226.227 1,258,924 9,381,43
12,831,080
4,563,503 4,871,923 34,915,931 35,671,462
January
Delaware & Hudson January __ 1,097,169 1,572,611
Total all lines
8 24,760,965 23,890,108
2,477,77
1,317,226
5
2,703,75
1.134,488
_
197,833
February
220,714
West
&
January
Del Lack
17,005,815 17,189,703 St L Rock Mt 40 Pt_ 3d wk Mch 221,126 230,755 8,992.275 9,136,534
Denv & Rio Grande 3d wk Mch 382,100 368,600 3,261,369
St Louis Southwes
647,421 5,073,140 4,761,071
327,197
690,713
_
_
January
L.
S
&
A
Western Pacific_ _ January .._
L
Pad
San
731 208
818,024
13,406
19,935
2d wk Mch 503,511 501,818 15,342,656 15,151,965
Line
Denver N W & Pac_ 2d wk Feb
27,578 1,319,988 1,349,688 Seaboard Air
7 9,614,726 89,067,273 90,741,535
44,213
Detroit Tot & Iront 2d wit Mch
851,036 Southern Pacific Co February _ 9,992,75
36
866,760
23,629
23,575
3d wk Mch 1,142,230 1,105,655 46,034,3419 44,421,4
Railway
Detroit It Mackinac 3d wk Mch
3 5,227,488 Southern
4,530,70
225,504 8,321,30 8,018,157
154,909
224,863
107,301
_.
Mch
But to Iron Range._ January
2
Mobile & Ohio... 3d wk
2,274,70
0
0
6,713,06
4
2,250,27
6,921,12
71,243
52,220
56,949
Dui So Sh ec Atl__ _ 3d wk Mch
Cin N 0 & Tex P. 3d wk Mch 174,142
638,381 4,270,450 4,291,337
60,409 3,435,925 3,299,067
83,795
Ala Great South_ 3d wk Mch
El Paso to Sou \Vest January __ 635,226 4,061,893 33,627,162 37,864,843
0
1,778,85
1,794,391
46,977
4,391,671
50,118
_
February
Erie
Georgia Sou & Fla 3d wk Itch
14,044
67,107
15,012
74,735
1,909
2,327
2,172
1,944
January __
Fairchild & N E
628,594 Tenn Ala & Georgia 2d wk Mch
629,896
64,256
276,130 12,838,663 12,208,747
65,849
Fonda Johns to Cloy February _
1,946,118 Texas & Pacific.... 3d wk Mch 299,482
9
57,217
2,049,20
64,617
302,390
7,482
273,087
__
7,166
January
February _
Georgia
950,934
35,200,466 32,108,200 Tidewater & West.. 3d
943,208
21,693
23,169
wit Mch
Grand Trunk Syst_ 3d wk Mch 910,530 875,309
4,663,790 4,358,231 Toledo Peor & West
79,745 2,903,645 2,765,491
86,722
Grand Trk West. 2d wk Mah 117,497 122,996 1,610,976 1,463,296 Toledo St L & West 3d wk Mch
50,712
37,852
59,128
36,494
7,228
8,640
Bet Cr Hay & Mil 2d wk Mch
January
38,450 1,461,460 1,324,368 Tombigbee Valley
37,370
6,198,320 5,627,673 59,024,403 61,762,805
Canada Atlantic. 2a wk Mch
17 41,681,413 Union Pacific Syst_ February - 139,240 114,829 1,156,174
928,281
44,640,9
3,572,001
2
_
4,216,45
Syst
February
Northern
_
Great
2 Virginia & So West.. February
177,833 176,676 1,173,730 1,189.255
411,319 316,234 2,767,728 2,090,867
Gulf & Ship Island_ January __
January
Virginian
4,669,40
64
January __ 560,839 464,794 4,453,042 42,548,8
Hocking Valley
January.. 2,060,385 2,367,495 17,342,886 18.238,7
57 Wabash
38
2
39,427,0
4,832,22
1
_
4,681,09
February
Central
523,364 568,018 4,186,897 4,314,709
..
Illinois
Maryland. January
Western
9
0,882,28
0
4
7,774,71
4,595,78
166,000
9
5,135,89
_ 577,138 447,22
Intcrnat & Get Nor_ 3d wk Mch 166,000
228,448
6,184,797 0,430,449 Wheel & Lake Erie_ February
245,574
30,784
29,470
a Interoccanic Mex_ 3d wk Mch 166,243 177,002 1,962,386 1,929,497 Wrightsv & Tennille February _
1
7,592,66
2
233,930
6,855,29
231,529
-_
911,321
Mich
January
&
771,472
..
February
Kanawha
6,395,225 0,970,437 Yazoo & Miss Valley
Kansas City South_ February _ 791,361 749,038
Previous
58,323 1,090,008 1,169,028
53,246
Camera
K C Alex & Orient. 4th wk Jan_
56 24,247,129
Year.
,
25,667,2
4
2,026,36.
Year.
2,9(18,95
February
Period.
Lehisal Valley
Various Fiscal Years.
292,725
317,501
37,760
37,720
Lexington & East January 844,429
806,365
121,394
125,246
-_
January
Arkan_
&
a
Louisian
741,580
758.506
98,926
_ 106,999
Jan 1 to Jan 31 1,697,169 1.572,6114
Louisv Hand & St L January
& Hudson
3d wk Mch 1,124,695 1,117,925 40,810,649 39,818,995 Delaware
Jan 1 to Jan 31 13,147,264 7,787,08 6
s Louisv & Nashv
109,125 N Y Central & Hudson River_e_ Jan
113,502
14,552
14,179
..
February
1 to Jan 31 3,847,877 3,716,50
m
South
Birm'ha
&
Michigan
Macon
Lake Shore &
450,609
6,331,225 5,910,658
741,033
731,622
__
425,765
January
Jan 1 to Jan 31
Maine Central
Lake Erie & Western_n
289,789
290,626
27,787
310,642
28,732
_
328.184
to Jan 31
1
Jan
Southern
Maryland & Penna. February
&
Indiana
Chicago
192,200 5,623,700 5,843,200
2,388,902 2,364,920
31
Jan
to
1
Jan
a Mexican Railway_ 1st wk Mch 157,000
igan Central
M'c'a
1
551,898
553,650
15,452
2,344,88
4
15,406
2,244,66
31
Mch
Jan
to
3d wit
Mineral Range
Cleve Chi Chicago & St Louis Jan 1 to Jan 31
306,128
194,915 5,573,361 6,265,950
230,953
Jan 1
Minn & St Louis__ 2d wk Mch 140,357
Peoria & Eastern
99,608
92,215
31
Jan
to
1
_
Jan
Central__
Iowa
Cincinnati Northern
6
380,955 18,935,059 10,075,602
Jan 1 to Jan 31 1,232,863 1,014,60
Minn St P &SSM 3d wk Mch 494,491
Pittsburgh do Lake Erie
891,009
883,694
31
Chicago Division
New York Chicago & St Louis Jan 1 to Jan 31
546.270
524,451
338,879
78,056
71,537
397,520
_
_
Jan
to
1
January
pi
Jan
Central_
Mississip
Toledo do Ohio Central
62
466,611 403,386 21.344,086 21,953,894
Jan 1 to Jan 3120,219,901 19,624,0
ti Mo Kan & Texas.. 3d wk Mch 964,000 932,000 39,951,874 38,808,927
Total all lines
31
Missouri Pacific_ _ 3d wk Maki
Jan 1 to Jan 31 12,780,390 12,359,8
7,057,712 7,115,021 Pennsylvania ii,. -.road
12,914
1,127,811
9,520
974,1302
31
__
Jaa
to
to
L
1
January
Chatt
St
Nashv
e Chesap & Atlantic_ Jan
16
13altimor
48,253,4
86
7
45,522,4
1,319,46
232,945
231,480
1,059,655
Jan 1 to Jan 31
a Nat Rys of Mex_t _ 3d wk Mch
Cumberland Valley
236,514
242,074
637,069
3,198
6,100
666,356
to Jan 31
Jan
Nevada-Cal-Oregon, 2d wk alch
Long Island
43,626
33,953
6,224
0,282
4,737
4,817
Nevada Central ___ _ December..
Maryland Detaw & Virginia_ Jan 1 to Jan 31
973,103
965,257
239,612
138,987
125,526
225,254
t.) Jan 31
Jan
Norfolk_
&
hia
N 0 Great Northern January __
N
Y
Philadelp
0
1,084,42
3
170,630 1,125,87
955.598 1,034,674
31
Jan
to
1
Jan
Central
N 0 Mobile ec Chic_ January __ 163,446 7,787,08
Northern
4 63,293,463 00,724,763
Jan 1 to Jan 31 1,436,741 1,441,442
N I C & lIud Ely_ January _ 8,147,264
Philade phia Bait & Wash
20,423,589
316,926
319,687
Jan 1 to Jan 31
Lake Nhore & 11 :3 January __ 3,847,877 3,716,506 29,463,831 3,393,052
West Jersey to Seashore__
5 3,683,507
1 to Jan 31 3,886,50
Jan
n Lake Erie & W. January __ 425,765 450,609 3,322,417
Company
ania
2,124,551 Pennsylv
0
395,477
2,277,114
358,949
310,642
31
328,184
&
South
Intl
Jan
__
to
1
January
Chic
Jan
Gr ,nd Rapids do Indiana
1
3,204.825 3.112,714
Michigan Central. January .._ 2,388,902 2,364,920 18,493,977 18,072,3317
Pittsb Cincin Chic & St Louis Jan 1 to Jan 31
824,524
848,99
31
Jan
to
1
Cleve C.) 0 & St L. January __ 2,244,664 2,344,881 18,250,694 18,586,6 8
Jna
Vandalia
17,415,239 17,101,106
280,953 306,128 1,884,958 2,250,43
Peoria & Eastean January
Total lines-East Pitt; & Erie Jan 1 to Jan 31
803,918
800,207
99,608
92,215
to Jan 31 8,300,717 8,099,171
Cincinnati North. January __
Jan
&
Erie
West
Pitt:
2
31 25,805,957 25,200,278
Pitts & Lake Erie January __ 1,232,863 1,014,696 9,604,126 9,783,772
All lines 13 & W. Jan 1 to Jan 31
137,981
145,036
Dec 1 to Jan
N Y Chic & St L. January __ 883,694 891,009 6,749,8913 6,680,36 9 Rio Grande Junotion
228,841
235,756
to Jan 21
1
Jan
Tol & Ohio Cent_ January __ 307,520 338,870 3,227,893 3,263,17
Rutland
Jan 1 to Mch 21 3,632,988 3.263,619
Tot all lines above January __ 20219901 19624 982 157369 414 155106 576 Texas to Pacific
and Monthly.
AGGREGATES OF GROSS EARNINGS-Weekly
Weekly Summaries.
Cuent Year Prev's Year Inc. or Dec.
Monthly Summaries.
ICuent Year Prev's Year Inc. or Dec.
%
Mileage. Cur.Yr. Prev.Yr.
2.00
Is
243,170 239,3571229,642,771 234,339,874 -4,697,103
May
--805,950 6.44
roads) ____ 11,097,198 11,903,148
243,732 240,0121231,607,053 233,156,755 --6,459,702 2.71
2d week Jan (42 roads)_June
7 3.89
0.65
--466,36
881
82
__
-1,481,
12,036,7
15
88
11,570,4
006
(37
233,169,
231,688,
'44,508 240,088,
3d week Jan
0.72
17,936,265 +2,200,875 12.27 July
244,531 240,1701253,043,102 254,886,944 --1,843,842
4th week Jan (44 roads)-_-_ 20,138,140
August
1-507,987 0.19
77
11,938,471 +1,170,711 9.81
256,748,
762
240,825
257,256,
245,494
er
1st week Feb (39 roads)---- 13,100,182
Septelnb
4.78
+603,327
0.92
773
9
1-2,420,
46
12,830,31
35
13,233,6
roads)
263,637,
129
245,633 241,321!266,064,
2t1 week Feb (40
October
+798,444 0.31
13,450,409 12,651,965
388 -1,767,625 0.73
3d week Feb (42 roads).--Nove.n bar 234,200 231,563,241,343,763 243,111. 17
17 12,85.2,001 +2,091,016 16.27
4-1.339,736 0.57
232,275,
912
233,014,
238,561
235,685'
4th week Feb (43 roads)-_-- 14,943,012
r
Decembe
1.14
+747,009 5.96
12,534,803
.- 13,281,8
237,888 234,402 210,704,771 213,145,078 -2.440,307
1st week Mch (43 roads).-__
90011.32
+471,971 3.59 January
13,603,439 13,131,968
86,1591 61,178,619 54,956,719 4-6,221,
87,683
2(1 week Mch (43 roads)__
February
4-704,844 5.65
13,169,560 12,404,716
..
roads)..
Mch
returns
(37
week
3d
District Ry. from Nov 1 1911: in 1910 these
the latter
of Colorado Springs & Cripple Creek to
a Mexican currency. b Does not include earnings
Adirondack and the Ottawa & N. Y. Ry..
St. Lawrence
and EvansBoston & Albany, the New York & Ottawa, the
on. I Includes Evansville do Terre Haute earnings of
e
Commissi
Commerc
are included. a Includes theroad,
State
Inter
does not make returns to the
p Includes
RR.
Ohio
Northern
the
n
Includes
years.
of which, being a Canadian
both
t Includes the
the Clevelana Lorain & Wheeling lty. in
Atlantic and the Frankfort & Cincinnati.
ville & Indiana HE, g Includes
Wisconsin Minnesota & Pacific. s Includes Louisville & only
operating revenues, but also all other receipts.
Mason City & Ft. Dodge and
s the Texas Central. is Includes not
Mexican International from July 1910._ u_Include
906
THE CHRONICLE
Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the earnings for the third week
of March. The table covers 37 roads and shows 5.65%
increase in the aggregate over the same week last year.
[Vol, Lxxxxiv.
-Gross Earnings
-NetEarnings
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
4
Southern Pacific-a
Feb 9,992,757 9,614,726 2,530,978 2,504,938
July 1 to Feb 29
89,067,273 90,741,535 27,775,802 30,308,950
Southern Railway_ b_ _ _ _Feb 5,167,036 4,793,156 1,440,111
Third week of March.
1912.
1911.
1,348,009
Increase. Decrease.
July 1 to Feb 29
42,366,650 40,814,743 13,623,247 13,296,823.
Mobile & Ohlo_b
$
$
Feb
908,593
$
843,088
$
221,465
198,549
Alabama Great Southern
July
1 to Feb 29
83,795
60,409
7,671,788 7,351,739 2,128,726 2,149,803
23,386
Ann Arbor_
44,004
35,918
Cin N 0 & Tex Pac_b_Feb
8,086
781,081
Atlanta Birm & Atlantic
759,004
229,999
259,394
64,114
61,959
2,155
July 1 to Feb 29
6,399.464 6,355,454 2,220,958 2,410,734
Buffalo Rochester & Pittsburgh
207,427
174,988
32,439
Ala Great Southern_ b_Feb
Canadian Northern
385,305
319,900
378,378
297,900
110,097
108,207
22,000
Canadian Pacific
July
1
to
Feb
29
3,182,656
2,471,000
3,090,642
1,972.000 499,000
983,244
930,219
Central of Georgia
Georgia Sou & Fla_b_Feb
290,300
278,000
12,300
210,536
209,380
51,645
Chesapeake & Ohio
54,376
July 1 to Feb 29
680,232
564,735 115,497
1,651,800 1,637,915
Chicago & Alton
410,556
401,861
343,902
280,407
63,495
Tidewater & Western_ b_Feb
Chicago Ind & Louisville
7,166
7,482
762
112,052
1,503
115,575
3,523
July
1
to
Feb 29
Chicago Great Western
64,617
57,217
9,244
261,461
6,906
276,926
15,465 Union Pacifica
On New Orleans & Texas Pac
Feb 0,198,320 5,627,673 2,036,873 1,621,895
174,142
71,243 102,899
Colorado & Southern
July 1 to Feb 29
59,024,403 61,762,805 22,667,986 25,569,852
233,008
257,460
_____ _
24,452
Denver & Rio Grande_
382,100
Virginia & Southw_b___Feb
368,600
13,500
139,240
114,829
45,968
Detroit & Mackinac_
32,313.
23,575
23,629
July 1 to Feb 29
54
1,156,174
928,281
400,084
Duluth South Shore & Atl
298,580
56,949
52,229
4,720
Wrightsv & Tennille_b_ _Feb
Georgia Southern & Florida
29,470
30,784
•
8,113
50,118
12,578.
46,977
3,141
July 1 to Feb 29
Grand Trunk of Canada
245,574
228,448
78,521
90.707
Grand Trunk Western
910,536
INDUSTRIAL COMPANIES.
875,309
35,227
Det Gr Hay & Milw
-Gross Earnings
--Net Earnings-Canada Atlantic
Current
Previous
Current
Previous
International & Great Northern
Companies.
166,000
166,000
Year.
Year.
Year.
Year.
Interoceanic of Mexico
166,243
177,002
10,759
Louisville & Nashville
Adams Express Cob
1,124,695 1,117,925
Dec 1,706,812 1,740,325
6,770
220,958
189,921
Mineral Range
July 1 to Dec 31
15,406
15,452
8,600,728 8,359,071
948,446
998,295.
46 American
Minneap St Paul & S S M _ _..1
494,491
389,955 104,536
Express_b___ _Dec 2,194,837 2,323,386
385,702
574,845
Chicago Division
___ 5
July 1 to Dec 31
12,034,901 11,626,021 1,907,478 2,031,575
Missouri Kansas & Texas
466,611
493,386
______
26,775 Mexican Lt do Power___Feb
729,988
660,370
Missouri Pacific
555,660
420,655
964,000
932,000
Jan
1
Feb
to
32,000
29
1,497,286
1,368,117 1,144,460
Mobile & Ohio
951,006
224,865
225,504
639 United States Express_b Dec 1,098,119 1,129,001
National Rys of Mexico
92,230
181,388.
1,059,655 1,319,467
259,812
July 1 to Dec 31
5,984,343
Rio Grande Southern
5,650,269
434,746
607,012
6,250
9,783
__ __ __
3,633
a Net earnings here given are after deducting taxes.
St Louis Southwestern
221,126
230,755
9,629
b Net earnings here given are before deducting taxes.
Southern Railway
1,142,230 1,195,655
53,425
c After allowing for outside operations and taxes,
Texas & Pacific _
299.482
276,130
operating income for
23,352
Feb. 1912 was $338,627, against $325,239; from
Toledo Peoria & Western
23,169
21,693
1,476
$2,575,584 in 1912, against $2,619,868 last year. July 1 to Feb. 29 was
Toledo St Louis & Western_
86,722
79,745
6,977
f Includes not only operating revenue, but also all other
receipts.
g These results are in Mexican currency.
Total (37 roads)
13,169,560 12,464,71611,112,9561 408,112
Net Inerease (5.1‘507.1
5 The company now includes the earnings of the Atch. Top.
704.844,
& Santa Fe
Ry., Gulf Colo. & Santa Fe Ry., Eastern Ry. of
Mexico System;
For the second week of March our final statement covers Santa Fe Prescott & Phoenix Ry., Southern KansasNew
of Texas, Tex
& Gulf Ry., G. & I. Ry. of T., C. S. S. & L. V. RR.Ry.
43 roads and shows 3.59% increase in the aggregate over RR. in both years. For February taxes amounted and R. G. & E. P..
to
against
$308,644 in 1911; after deducting which, net for February $356,196,
the same week last year.
1912 was $2,460,303, against $1,981,541 last year. From July 1 to Feb.
29 taxes were
$2,815,569 in 1912, against $2,288,105 last year.
,•
Second week of March.
n These figures represent 30% of gross earnings.
1912.•
1911.
Increase. Decrease.
$
$
$
Previously reported (37 roads). 12,351,489 11,811,975
1,133,677
Ann Arbor
47,133
38,142
8,991
Atlanta Birmingham & Atlantic
68,081
61,959
6,122
Georgia Southern & Florida_
48,379
46,977
1,402
Minneapolis & St Louis ______ I
146,357
194,915
______
Iowa Central _ ____________ 5
Missouri Pacific
942,000
978,000
F" Total (43 roads) ------------13,603.439 13,131,968
1,150,192
Net increase (3.59%)_ ________
___
_ 471,471
Roads.
Interest Charges and Surplus.
$
594,163
-Int., Rentals, &c.- -Bat. of Net Earns.
Current
Previous
Current
Previous
Year.
Year.
.315 xY
vi
es
(1
4.
r.
537 zY
13
esa
4r
,.
865.
$
$
Buff Roch & Pittsb
Feb
175,989
168
48,558
July 1 to Feb 29
1,384,076 1,398,873 z1,166,279 z1,508,481
Chicago
Great
Western_F
eb
242,005
215,641 zdef82,401 zdef22,918.
36,000
July 1 to Feb 29
1,832,725 1,685,436 x315,651
x576,234
857,129
773,498
678,721 Chicago & Northwestern Feb
412,168
845,493.
July 1 to Feb 29
6,085,263 6,182,265 7,492,814 8,511,673
Chicago St Paul M & 0_ _Feb
194,966
163,104 def12,705
180,264
July 1 to Feb 29
Net Earnings Monthly to Latest Dates.-The table fol1,418,431 1,344,807 1,278,197 2,304,738
& Southern___Feb
319,965
lowing shows the gross and net earnings of STEAM railroads Colorado
275,706
c27,794
cdef7,112*
July 1 to Feb 29
2,242,659 2,172,721 c1,486,199 c1,870,801
and industrial companies reported this week:
Little Falls do Dolgeville_Gross Earnings- -Net Earnings
Oct 1 to Dec 31
3,316
4,147
x3,468
x2,076
Current
Previous
July 1 to Dec 31
Current
Previous
8,203
•
9,753
z6,253
z8,174
Roads.
Year.
Year.
Jan 1 to Dec 31
Year.
Year.
33,081
.
25,021
x22,901
x27,210
$
$
Reading
$
Company
b
Feb
868,250
888,661
Atch Topeka & San Fe_b Feb 8,592,050 8,080,818 52,816,499 52,290,185
924,617
303,503.
July 1 to Feb 29
6.946,000 7,109,284 6,288,472 5,054,553.
July 1 to Feb 29
71,862,096 72,265,390523,568,448525,082,095 Rio
Grande Junction_ ___Jan
8,333
8,333
11,845
10,282
Buff Roch & Pittsb_b__ _Feb 766,204
644,342
Dec
1
to Jan 31
242,228
227,006
16,666
16,666
26,844
24,728
July 1 to Feb 29
6,373,541 6,289,242 2,063,867 2,325,697
c After allowing for miscellaneous charges and credits to income.
Canadian Northern
Feb 1,203,400
803,100
x After allowing for other income received.
237,600
135,800
July 1 to Feb 29
12,766,200 9,672,300 3,406,400 2,728,500
Canadian Pacific-a
Feb 8,931,907 6,375,576 2,383,867 1,144,707 ELECTRIC RAILWAY AND TRACTION COMPANIES.
July 1 to Feb 29
78,827,055 67,903,433 27,936,972 24,417,533
Central of Georria_b____Feb 1,222,551 1,119,929
Latest Gross Earnings.
c387,114
c362,497
Jan. 1 to latest date.
July 1 to Feb 29
9,613,029 8,989,184 c2,930,534 c2,934,626
Name of
Road.
Chicago Great West_b__Feb 1,001,400
Week
or
Current Previous Current
957,877
Previous
149,355
184,765
July 1 to Feb 29
Month,
Year.
Year.
Year.
8,624,659 8,501,311 2,059,094 2,192,429
Year.
Chicago & Northwest_a_Feb /5,969,651 15,692,971 1,269,297 1,618,990
American Rys Co_ ___ February . 350,535 321,600
724,045
July 1 to Feb 29
672,874
151,620,739/52,966,566 13,578,077 14,693,938 Atlantic Shore
Ry___ February _
19,834
16,677
39,954
34,269
Chic St Paul M & 0_a_Feb11,153,936 11,186,269
182,261
246,357
343,368 cAur Elgin & Chic Ry February _ 120,640 112,296
233,492
July 1 to Feb 29
110,396,889111,379,113 2,696,628 3,649,545 Bangor fly & Elec Co January __
53,448 45,176
53,448
45,176
Baton Rouge Eleo Co January __
Cinc Ham & Dayton_b_Feb
12,161
12,161
9,836
697,155
849,697
0,836
100,143
54,391
July 1 to Feb 29
31,964 28,499
6,753,502 6,411,100 1,792,546 1,443,880 Binghamton Railway January - _
31,964
28,499.
Brock & Plym StRy_ January __
7,163
7,163
7,471
Colorado & Southern_b_Feb 1,054,538 1,001,559
7,471
270,812
234,775 Bklyn Rap Tran Syst December 1920,274 1804,037 23,233,599 21,808,887
July 1 to Feb 29
9,943,532 11,461,453 3,404,553 4,036,978 Cape Breton Eleo Co_ January
__
28,327 27,443
28,327
27,443
Delaware Lack & West b Feb 2,763,755 2,477,778
Carolina
Pow
&
Lt
Co
February
_
980,374
33,427 28,934
70,341
893,377
59,966
July 1 to Feb 29
24,760,965 23,890,108 9,537,978 9,727,194 Cent Park N & E Riv December
53,028 50,180
638,063
435,266
Central Penn Trac___ February _
Detroit & Mackinac_a__Feb
67,076 60,874
137,345
127,758
92,018
87,056
17,546
6,307
Chattanoo
By
ga
& Lt January
July 1 to Feb 29
81,004 73,533
81,004
73,533
794,742
777,356
135,886
191,567 Clev Painesv & E'n__ January __
__
22,907 23,114
23,114
22,907
Erie_ a
Feb 4,391,671 4,061,893
833,704
956,820 Cloy Southw & Colum January
79,570 80,107
80,107
79,570
July I to Feb 29
38,627,162 37,864,843 9,966,704 10,419,848 Columbus (Ga) El Co January -__
44,316 39,038
39,038
44,316
Fonda Johnst & Glov_b_Feb
Island & Bklyn December
65,849
103,190 103,508 1,409,273 1,496,386
64,256
26,990
30,517 Coney
July 1 to Feb 29
Dallas Elect Corp.- January __ 135.170 135.180
629,896
628,594
325,235
135,170
135,180
330,811 Detroit United
Ry___ 4th wk Feb 197,674 164,007 1,545,182 1,367,444
g Interoceanic of Mexico_Feb
734,491
774,406
253,256
293,193 DDEB & Bat (Rec) December
July 1 to Feb 29
52,940 47,712
617,034
606,785
5,708,494 5,858,396 1,044,115 2,174,326 Duluth-Superior
Trac February _
83,647 78,091
171,491
162,288
Little Falls & Dolgeville_bEast St Louis & Sub_ January __ 191,031 188,724
191,036
188,724
Oct 1 to Dec 31
22,028
22,749
El Paso Electric
6,640
January
__
5,976
69,775
69,775
61,769
61,769
July 1 to Dec 31
47,279
Clarks
Tr
&
Fairm
Co
46,957
14,188
February_
17,521
56,086 49,763
114,826
102,127
Jan 1 to Dec 31
158,188
143,162
54,988
50,665 42dStM&SNAv (Rec) December
134,043
1,606,382 1,433,284
Galv-Hous Eeo Co _ January -_ 146,007 113,208
g Nat Rys of Mexico___ _Feb 4,604,383 5,025,832 1,611,852
146,007
111,166
1,717,138
111,166
July 1 to Feb 29
42,606,667 42,453,303 18,921,340 17.163,492 Grand Rapids By Co_ February_
189,075
91,627
1,836
173,903
569,339
N Y N H & Hartford _b_Feb 4,848,962 4,182,774 1,539,419 1,150,411 Havana Electric By. Wk Mch 24 49,408 44,190
549,394
Rapid
Honolulu
Tran
July 1 to Feb 29
42,695,568 41,325,715 15,132,080 14,261,399
& Land Co
February _
91,386
45,900 37,824
76,745
N Y Susq & Western_aFeb 295,216
310,652
76,148
117,133 Houghton Co Tree Co January
22,125
22,125 23,256
23,256
July 1 to Feb 29
2,617,228 2,516,254
818,834
807,629 liudson & Manhattan February: 434,323 362,271
889,531
748,668
Northern Pacific- b
Feb 4,252,928 4,058,532 1,492,739 1,190,868 Illinois Traction Co January_ _ _ 616,704 573,971
616,704
573,971
Interboro
Rap
Tran_
July 1 to Feb 29
December
30,331,582
2845,096 2760,389
42,651,370 44,792,000 17,518,349 17,715,375 Jacksonvil
29,349,525
le Trao Co_ January __
52,765
49,878'
49,878
Reading Company52,765
Lake Shore Eleo By_ January__
87,153
87,153 84,569
Phila;do Reading_b___Feb 3,682,814 3,233,079 1,274,691
84,569
Island Electric_ December
Long
1,086,130
209,256
13,211
14,070
207,547
July 1 to Feb 29
30,728,092 29,996,449 10,904,948 10,714,655 Metropolitan St(Bee)
December 1148,685 1116,910 13,656,723 13,330,239
Coal & Iron Co_b____Feb 4,031,462 2,306,915
By
do
Milw
Lt
El
Co_
December.
5,038,691
423,524
466,546
349,243
.
def24,998
4,694,392
• July 1 to Feb 29
26,097,656 22,489,665 1,014,210
90,333 80,894 1,121,205 1,056.750
286,869 Milw Lt, Ht & Tr Co_ December
r Total both cos_b
February _ 393,995 330,737
811,957
Feb 7,714,276 5,539,994 1,623,934 1,061,132 Montreal Street Ry
700,862
Nashville
By
&
Light
July 1 to Feb 29
February_
56,825,748 52,486,114 11,919,158 11,001,525
326,073
159,939 151,282
313,185
Now Orleans By & Lt December,.
6,380,909 6,099,234
Reading Company _Feb
168,933
131,031 N Y City Interboro__ December
33,733 21,452
314,101
July 1 to Feb 29
233,258
1,315,314 1,162,312 N Y & Long Isl Trao_ December
28,131
389,168
24,795
370,677
Total all cosi
NY & Queens Couny December
Feb'
1
V'F.7
98,959
85,605
1,792,867
1,253,981
1,192,163
1,122,132
July lito,!•Feb 29
.7.13,234,472!12,163,837 Northam Easton do W February _
r,'FP
11,969
10,868
23,473
22,790
No Caro Pub Serv Co December.
Rio GranderJunction____JanVir F67,261W.Irr 62,050 "li n20,178
24,124 20,873
252,174
217.315
• , n18,615 North Ohio Trac & Lt February_. 198,209
p•rtpearfto JanY31
172,413
r''' 145,036wr 1 137,981 '''11
407,598
358,684
'n43,510 "" n41,394 North Texas Eleo Co_ January.
.
114,605 124,009
114,695
Rock IslandliLines_b__ _Feb 5,033,614p 4,864,795 1,122,458
124,009
1,018,469 Ocean Electric (L I) _ December
4,253
3,101
123,087
MtJuly 1 to_Feb129
110,570
43,873,024i 46,709,485'11,583,087..13,469,274 Paducah Traced Lt Co January _
24.895 21.787
24.693
21.787
Roads.
THE CHRONICLE
MAR. 39 1912.]
907
Page
Industrials (continued)Page
Railways(Cond.)829
824 Cuyahoga Telephone Co
Texas & Pacific By
554
82 Detroit Edison Co
Toledo & Ohio Central Ry
Name of
829
Previous
Ltd
Canners,
Current
Previous
Dominion
828
Current
&
RR
Seashore
or
Jersey
West
Week
Road.
635
Co623,
Pow.
Year.
Nem.
de
Year.
Pont
Year.
Du
I.)
Year.
(E.
Elearic Railways•
Month.
701
826, 558 Eastmans, Limited
American Cities Co
829
Co
Battery
Storage
Electric
.692
RR
&
(Elec.)
Cleve. Painesv. East.
Y.633
N.
Buffalo,
22,369
Co.,
22,261
Tel.
&
22,369
22,261
Commonwealth Power Ry. & Lt. Co_767 Federal Tel.
Pensacola Electric Co January __
558
1,808,472 1,716,946 Dominion Power & Transm. Co., Ltd_630 General Railway Signal Co
Phila Rapid Trans Co January __ 1808,472 1716,946
511,624 Easton (Pa.) Consolidated Elec. Co 630 Great Northern Iron Ore Prop., N. Y.556
531,213
Port(Ore)Ry,L &PCo. January _ _ 531,213 511,624
_696
_
Y
N.
Co.,
142,251
135,075
559 Guggenheim Exploration
Railway & Electric Co
Puget Sound Elec Co_ January __ 135.075 142,251
340,485 Georgia
362,033
25,780 23,400
559 Hart, Schaffner Sc Marx, Chicago__ _695
Halifax Electric Tramway Co
Richmond Lt & RR_ December
693
Honolulu Rapid Transit & Land Co_ 630 Havana Tobacco Co
Rio de Janeiro Tram
2,189,945 1,940,788 Louisville Railway
826 (Geo. W.)Helme Co.(bal.sh. Dec.30)824
Light & Power Co_ February _ 1080,926 941,213
694
Co
Silver
l
Internationa
._827
Co__
&
Lt.
Ry.
Milwaukee
Electric
St Joseph (Mo) Ry,Lt
626
174,114 Mohawk Valley Co
194,242
83,126
91,701
623 Kansas City Breweries Co
Heat & Power Co_ February _ 357,782
561,813 New York State Railways
Gas Co., Pittsburgh_765
721,293
279,457
Kansas
Natural
623
_
February
,L&P
Sao Paulo Tram
....554
Co_
Power
53,801
Sc
Light
58,359
Elec.
Co.
Kings
53,801
58,359
_824
_
N.
J..
of
__
Public Service Corporation
Savannah Eleo Co.._ - January
694
478.728 Susquehanna Railway,Light & Power
449,816
Knickerbocker Ice Co., Chicago
478,728
Seattle Electric Co_ _ - January __ 449,816
693, 708
845,062
937,466
77,260 64,015
692 Lackawanna Steel Co
Co., New York
Second Ave (Reo)-- - December
_628
_
Mass_
111,145
Cambridge,
125,663
Bureau,
8,597
Library
9,853
706
Third Avenue By., N. Y. City
Southern Boulevard _ December
_ 765
28,641 Toledo Railways & Light Co
34,926
14,057
16,926
623 Liggett & Myers Tobacco Co
Sou Wisconsin Ry Co February _
765
261,276 Underground Elec. Rys. of London,
279,730
18,026 15,789
(P.) Lorillard Co
Staten IsI'd Midland_ December
552
York
New
53,224
Companies,
60,751
Mackay
60,751 53,224
550
Ltd. (6 mos. ending Dec. 31)
Tampa Electric Co-- January __ 316,629
3,432,013 Washington Bait. & Annapolis Elec.
Light & Heat Co., Pittsburgh _ _553
3,680,409
Mfrs.
291,416
December
Third Avenue (Rec)
624
4,851,541 4,377,116
561 Midvale Steel Co., Philadelphia
RR.(9 mos. ending Dec. 31)
Toronto Railway Co_ December._ 239,609 220,269
551
462,730 Washington Water Power Co., Spo504,452
Morris Sc Co.(Packers), Chicago
Tr -City Ry & Lt Co_ February
628
Tel. Sc Tel. Co
1,474,810
States
1,543,927
Mountain
138,058
145,424
557
Mch
wk
Wash
kane,
2d
_
Tran
Twin City Rap
552
Co
Carbon
National
623
Co
West Penn Traction
Underground El Ry
692 National Fireproofing Co.,Pittsburgh.766
Winnipeg Electric Ry
of London693
York
New
Co.,
£169,675
Biscuit
National
£177,610
£13,395
£14,245
23
Mch
Wk
Industrials
_
Three tube lines__
824
£151,836 £142,767 American Bank Note Co
695 National Lead Co., New York
Metropolitan Dist _ Wk Molt 23 £12,275 £11,985
553
£63,270 American Cigar Co
N. Y. Air Brake Co., N. Y. City
694
£64,389
£5,384
£5,452
23
Mch
Wk
Tramways_
United
557 N. Y. Sc Queens Elec. Lt. Sc Power Co.829
£32,583 £465,330 £367,999 American Piano Co
London Gen'l Bus_ Wk Mch 23 £39,271
824
Co
2,225,276
North
695
American
199,850 172,758 2,471,033
December
American Radiator Co.,Chicago
Union (Rec)
565
276,382 American Smelting & Refining Co824,854 Osceola Consolidated Mining Co
313,721
January _ _ 313,721 276,382
UnionRy,G &ECo
825
Co
Otis
1,784,909
Elevator
694
1,826,814
863,990
_
893,919
Co
February
American Snuff
United Rys of St L.. _
Pacific Telephone Sc Telegraph Co_ _ _555
1,215,893 American Steel Foundries, Chicago
United RRs of San Fr February - 649,279 577,580 1,320,672
a Water Sc Power Co._ 558
532,425
Pennsylvani
693
601,898
31)
41,941
Dec.
45,746
December
ending
(Rea)
mos.
El
(17
r
Westcheste
770
626 Pittsburgh Coal Co
33,437 American Stmwboard Co
35,509
35,509 33,437
Whatcom Co Ry & Lt January
Plate Glass Co ______ __ _ _627
678,427
52,375
57,036
American Sugar Refining Co ______ _ _764 Pittsburgh
Yonkers RR (Ree)-- December__
sh. Jan. 31 '12).766
Co.
(bal.
Steel
Pittsb.
848
16,921
_824,
17,258
Co_
16,921
Tel.
&
January
17,258
Tel.
(Bell)
Riv
American
Youngst & Ohio
765 Pressed Steel Car Co., Pittsburgh__ _ _551
American Tobacco Co
Loan Society of N.-Y__ _702
c These figures are for consolidated company.
American Window Glass Co., Pittsb _ _555 Provident
694
694 Pure 011 Co., Philadelphia
Co
American Woolen
gives
table
626
following
.
-The
Net
Earnings
Co
Railway
Oats
Quaker
828
I. Electric
American Wringer Co
696
Quincy Mining Co
earnings
net
828
and
gross
Co
IC
railway
Realization
Assets
of
ELECTR
696
the returns
Railway Steel Spring Co., N. Y
Associated Merchants Co., N. Y__ -551_
Richelieu & Ont. Nay. Co., Montreal_566
reported this week.
Phila- Baldwin Locomotive Works, 31)
566
--Gross Earnings- -Net Earnings
(W. A.) Rogers, Ltd., Toronto
552
Dec.
ending
(6
mos.
delphia
Previous
Current
Previous
Current
Shawinigan Wat. Sc Pow. Co., Mont'1.627
Belding Bros. & Co., New York (balYear.
Year.
Year.
Year.
Roads.
Sheffield (Ala.) Coal & Ir. Co., N. Y_766
626
31)
Dec.
sheet
ance
$
$
$
633 Southern New England Telephone Co.555
349,966 Bell Telephone Co. of Canada
318,954
358,908
554
328,498
Chain Co
American Light & Tract _Feb
741,550 Bell Telephone Co. of Pennsylvania 627 Standard
705,314
566
760,234
725,027
Tennessee Copper Co
Jan 1 to Feb 29
Booth Fisheries Co., Chicago (20 mos.
625
28,443
Co_
32,171
Typewriter
31)
78,091
Underwood
626
Dec
ending
83,647
Duluth-Superior Tract_b Feb
695
Pittsburgh.
60,288
63,126
_ 552 Union Natural Gas Corp.,
162,288
171,491
(J. G.) Brill Co., Philadelphia
Jan 1 to Feb 29
625
557 Union 011 Co. of California
33,106 Buffalo General Electric Co
32,934
49,763
56,086
696
Co
Fairmont & Clarksb_b__Feb
&
Signal
Switch
Union
829
Co
66,862 Butterick
66,828
102,127
114,826
834
Jan 1 to Feb 29
562 Union Typewriter Co
Ltd., Montreal
18,788 Canada Cement,
23,500
37,824
45,900
829 United Box Board Co., N.Y. & Chic_624
Canadian General Electric Co
Honolulu R T & Land _b_Feb
35,414
44,815
(6
Y.
N.
76,745
Cos.,
United
Dry
City
91,386
Goods
Kansas
Jan 1 to Feb 29
Central Coal & Coke Co.,
552
558
months ending Jan. 15)
197,923
248,815
(18 mos. ending Jan. 1)
362,271
cHudson & Manhattan _a_Feb 434,323
624 United Gas Improvement Co., Ph1la_636
397,387 Central Leather Co., New York
502,704
748,668
889,531
Jan 1 to Feb 29
555
555 United States Envelope Co
(Bell) Telephone Co
Chicago
239,249
258,200
467,234
503,098
Feb
563 United States Ltg. Sc Heating Co., Me.627
Mexico Tramways
497,152 Cities Service Co
532,454
970,471
553
1,046,777
701 United States Motor Co
Jan 1 to Feb 29
Gas Co. of Indianapolis
Corporation_825, 841
103,133 Citizens
123,872
330,737
393,995
& Sandusky Brewing Co...628 United States SteelCo.
Cleveland
Montreal Street Ry_b___Feb
New York (9
694,934
Detinning
Vulcan
807,166
Chicago
1,830,922
5
6
,7
Co.,
5
,10
9
Edison
th
29
Feb
Commonweal
Oct 1 to
558
months ending Dec. 31)
625
61,523
61,254
151,282
(15 mos. ending Dec. 31)
159,939
Nashville Ry & Light _a _Feb
769 Western Electric Co., N. Y. Sc Chic _.831
130,668 Consolidated Rubber Tire Co
128,066
313,185
326,073
825
Jan 1 to Feb 29
Ce
ton
Weyman-Bru
829
Baltimore.
Co.,
Coal
9,032 Consolidation
6,381
21,787
24,693
Paducah Tract & Lt_a__Jan
557
818,545 Crocker-Wheeler Co
952,552
1,784,965
Philadelphia Co (Pitts) a Feb 2,059,851 18,985,172
7,672,252 8,352,495
19,197,410
Texas & Pacific Railway.
April 1 to Feb 29
486,667
941,213535,400
Rio de JanciroTramL&P Feb 1,080,926 1,940,788
1,087,133 1,014,738
Fiscal Year ending Dec. 311911.)
for
(Report
2,189,945
29
Feb
to
1
Jan
180,239
221,110
279,457
357,783
Gould, New York, says in substance: of
J.
George
Sao Paulo Tram Lt & P_Feb
Pres.
360,195
442,442
561,813
721,293
Jan 1 to Fob 29
Results.-The gross earnings in 1911 were $16,139,029, a decrease
91,275
100,220
220,269
239,609
Feb
expenses decreased $24,821, leaving a loss
Operating
1.46%.
or
$236,775,
Tr -City By & Lt_a
192,523
217,249
462,730
504,452
in net revenue of $211,954, or 5.44%. Revenue from freight traffic deJan 1 to Feb 29
271,450 breased $224,260,as follows: Eastern division Increase, $57,158; Rio Grande
275,786
576,935
616,536
eb
Trans_b_F
Rap
City
Twin
553,595 division decrease, $617,241; Louisiana division increase, $335,822; net de546,361
1,252,044 1,195,874
Jan 1 to Feb 29
but
crease, $224,260. The loss in revenue would have been much largerreve
Underground Elec Rys, Londonfor the fact that the losses in traffic occurred, as a rule, in the lowest
£30,071
£31,312
£58,860
31,729
of
cotton
Metropolitan Dist_ _ __Feb £63,209
in
tons,
of
42,764
in
flour
With
increases
producers.
£62,592 nue
£65,113
£129,726 £122,070
Jan 1 to Feb 29
products of 187,688 tons and miscel£30,676 tons, in miscellaneous agriculturaltons,
£33,906
£60,609
there were decreases in products of
London Elect Ry Co_ _Feb £65,528 £128,630
£67,294 laneous animal products of 28,319
£73,314
£137,519
29
products of 36,741 tons,in manufacin
Feb
forest
to
tons,
of
1
175,151
Jan
mines, &c.,
£4,201 tures
£4,638
£21,394
and merchandise of 24,744 tons, in grain of 64,686 tons and in live
London United Tram_Feb £22,628
E9,834
£9.298 stock of 42,960 tons.
£44,978
£46,911
Jan 1 to Feb 29
233,807
306,291
577,582
Owing to the large cotton crop in Texas, the movement in that commodity
649,279
United RRs of San Fran_Feb
, an in511,990
616,670
1,215,803
and its products was heavy. The revenue from same was $1,145,052
1,320,672
29
to
Feb
Jan 1
cotton transported in
taxes.
crease of $144,831. There were 740,398 bales of1910.
a Net earnings here given are after deducting taxes.
year
in
the
1911, compared with 613,486 carried
and lemons increased
b Net earnings here given arc before deducting
On the Rio Grande division the traffic in oranges66
c These figures represent income from all sources.
cars, and live stock
2,081 cars,,but green fruit and vegetables decreased
handled is accounted for
Interest Charges and Surplus.
decreased 4,857 cars. The decrease in live stock
were moved off of the
cattle
of
number
large
a
1910
During
follows:
as
-Int., Rentals, 64c.- -Rat,of Net Earns.
number handled during
line on account of droughty conditions. Of thetocking,
Previous
Previous
Current
Current
and it is
1911, probably one-third was shipped in for re-s as for the year believed.
Year.
Year.
Year.
Year.
1911.
same
Roads.
the
about
be
will
1912
for
movement
that the
$
$
$
carried
of
passengers
number
the
in
Passenger business shows an increase
6,401
'22,042
9,434
22,737
2,637,410 and in revenue $27,mile
one
Duluth-Superior Trac_ _ _Feb
carried
In
passengers
121,231,
of
16,205
44,083
17,651
45,475
a
decrease
of
account
on
cents
3.72
Jan 1 to Feb 29
decreased
passenger
per
18,791 043. Revenue
14,315
14,678
18,256
Fairmont & Clarksburg_Feb
39,720 of 1.05 miles In the haul.
27,142
30,306
36,522
The year 1911, from an agricultural standpoint in Texas, was not norJan 1 to Feb 29
12,702
6,611
17,379
6,593
mal except in the production of cotton; until June Texas bid fair to have
Honolulu R T & Land __..Feb
23,109 the
13,223
32,424
13,186
best corn crop in its history, but the hot winds in June practically
Jan 1 to Feb 29
def 152 destroyed the crop along our line and, in addition, greatly affected the hay
198,075
7,670
241,145
Hudson & Manhattan...._Feb
def13,086
410,473
16,440
486,264
and forage crop. The cotton crop along the line in Texas was normal, with
Jan 1 to Feb 29
61,159 a slight increase in acreage. The Louisiana corn and cotton crops were
76,931
46,941 . 41,974
Feb
Montreal Street Ry
bales
512,151
182,783
601,385
good, though the cotton crop shows about one-half the number ofits
205,781
Oct 1 to Feb 29
•
apmade
28,133 as compared with three years ago, when the boll-weevil firstbid
26.441
33,390
34,813
fair to be
Nashville Ry & Light_ __Feb
October in Louisiana the sugar cane crop
Until
pearance.
63,888
58,532
66,780
69,534
until
Jan 1 to Feb 29
continued
weather
warm
the
but
the
of
State,
history
the
in
best
3,236 the
137
5,796
6,244
Paducah Tract & Light_Jan
the cane did not sweeten; after sufficient cool weather to
30,081 November and
28,511
61,194
71,509
on sugar properties and before It was cut,there were several
Tr -City Ry & Light _ _ _ _Feb
71,429 make it take
75,207
121,094
entire crop.
142,042
Jan 1 to Feb 29
cold spells which destroyed more than one-third of thereduced
by the fol131,371
132,707
140.079
143,079
Financial Condition.-The company's debt has been
Twin City Rapid Trans.. _Feb
273,437 lowing payments: Bills payable, $660,000; car trust obligations paid and
263,203
280,158
283,158
Jan 1 to Feb 29
.
canceled, $488,000; total, $1,148,000
x After allowing for other income received.
levee and road taxes for
Taxes.-The State, county, municipal, school,
$649,579, increase $71,025.
the year 1911 in the three States amounted toand were quite general, parautumn
Outlook.-Good rains came in the
at frequent
ticularly in the western section of Texas, and have continued
supplies of water have
Intervals since. The pastures are in good condition,
to
index
,
armund
all
to
:
an
hopefulness
at
-The
least
is
or
Reports.
following
Annual
been renewed and a feeling of confidence, Indications are that seems
the crop
very generally among the people.
reports of steam railroads, street railways and miscellaneous obtain
an
be
will
There
good.
increase
ly
exceptional
be
will
yield of 1912 in Texas
as in cotton of the most promising kind.
compandes which have been published since Feb. U.
in Louisiana cane acreage as wellthe
number of first-class immigrants, both
has been an increase in
This index, winch is grin monthly, does not include re- In There
has organized an agricultural decompany
The
Louisiana and Texas.
le":
ports in to-day's "Chronic
which it expects to get a great deal of the idle lands along
from
partment
Page
Page.
country
Both
population and the population
.
0
cultivation
=0
-Railnm&07
Inactive
RailroadsSouth. Ry.822,835 the lino
and cities along the line of the Texas Sc Pacific road are growing
Alabama New Orleans Texas & Pacific628 Lake Erie & Michigan
826 In the towns
Lake Erie & Western RR
there Is also a constat increase in the number of local inand
rapidly,
• Junction Rys. Co., Ltd _
823, 837
• . .
_ _826 Michigan Central RR
both in Louisiana and Texas. • •
Chicago Indiana & Southern RR
New Orleans Great Northern RR. 69i dustries, -ja-.1,4tIDESCRIPTION OF ROAD DEC. 31.
Chicago Terre Haute & Southeast.Ry.622
826 N. Y.Cent. de Hudson River RR.822,832 .%).7'14' •,1,1).
of Bridges (Feet)0T
1
-Length
(Miles)Rail
of
Cincinnati Northern RR
-weight
550
839 Northern Central By
56-lb. Other, Iron Wood. Comb'n. Trestles
Cleve. Cin. Chic. & St. Louis Ry_823,
690, 704 -"'" 85-lb. 75-lb. 63-lb.
__549 Pennsylvania RR
163,541
537
47
71
423
14,032
116
Dela. Lackawanna & Western RR_
1,278
37
827 1911____
Peoria Sc Eastern By
163,541
537
47
71
438
14,032
116
Grand Trunk Ry. (preliminary state.763 1910____ 37 'A 1,263
..559 Phila. Bait. dc Washington RR
171,238
530
47
71
13,768
454
116
ment for six months)
1,284
__
1909____
827
Pittsburgh & Lake Erie Ry
175,358
530
47
13,634
71
492
Huntingdon & Broad Top Mountain691 St.
116
1.246
763 1908-__- __
Joseph ScGrand Island By
RR_ & Coal Co
Latest Gross Earnings.
Jan. 1 to latest date.
ANNUAL REPORTS.
9082
THE CHRONICLE
AMOUNTS OF LEADING COMMODITIES CARRIED (000s omitted).
Total
Live
Manta. & MiscelYear.
Tons. Lumber. Stock. Grain. Cotton. Coal.
Mdse. laneous.
1911
5,037 1,026
149
214
506
185
1,267
2,590
1910
5,091 1,082
192
279
610
153
1,291
2,384
1909
5,431
994
178
257
140
1,205
537
2,120
1008
4,945
743
177
280
205
1,046
549
1,945
OPERATIONS, EARNINGS, EXPENSE'S, ETC.
1911.
1910.
1909.
1908.
Miles operated
1,885
1,885
1,885
1,885
OperationsPassengers carried
3,373,629
3,253,398
2,699,945
2,477,208
Pass. carried one mile_ _169,998,678 167,361,268 154,880,102 147,088,397
Rate per pass. per mile_
2.44 cts.
2.47 cts.
2.43 cts.
2.43 cts.
Freight (tons) moved... _ 5,937,019
5,990,801
5,431,180
4,944,853
Freight (tons) mileage_ _1066285,007 1103922,807 1006278,616 015,086,204
Aver, rate per ton perm.
1.03 eta.
1.01 cts.
1.03 cts.
1.03 cts.
Aver. train-load (rev.)_ _
219
222
222
221
Gross earnings per mile
8,562
$8,687
$7,937
$7,383
Transportation Receipts- $
$
$
Freight
10 981,560 11,185,821 10,220,148
9,401,569
Passenger
4,153,367
4,126,323
3,762,061
3,528,484
Miscellaneous
331,337
329,445
335,629
352,293
Mail
324,338
320,196
316,138
312,748
Express
368,427
414,020
326,677
322,220
16,130,029
Total
Transportation ExpensesMatnt. of way & struc
1,872,180
Maint. of equipment_ _ _ 2,664,043
Traffic expenses
304,314
Transportation
6,898,117
General expenses
509,365
16,375,805
14,960,653
13,917,315
1,928,901
2,979,804
253,582
6,683,758
426,798
1,943,376
2,405,788
215,793
5,938,115
405,247
1,800,898
2,171,407
190,207
5,735,105
391,191
Total (exclud. taxes) _ 12,248,019
P. e. of exp. to earns_ _
(75.89)
Net earnings from oper_ 3,891,010
Taxes
664,815
12,272,841
(74.95)
4,102,964
598,636
10,908,310
(72.91)
4,052,334
535,576
10,288,808
(73.93)
3,628,507
558,429
3,518,758
57,235
3,070,078
127,818
Total net revenue.. _ _ _
Other receipts
3,220,195
250,729
3,506,328
107,060
Total income
DisbursementsInterest on bonds
Interest and discount_ _ _
Improvement account_
Equipment account_ _ _ -.1
Rentals, &c
3,476,924
3,613,388
3,573,993
3,197,806
1,498,400
•366,956
1,219,637
1,498,350
•343,931
1,220,600
204,055
103,129
1,408,500
323,866
1360,175
1660,414
42,675
1,498,500
331,330
304,803
600,785
197,403
Total disbursements__
Balance, surplus
3,289,948
186,976
3,166,010
447,378
2,885,630
688,363
2,932,881
265,015
_1
• Includes in 1911 and 1910 interest on equipment oblIgationS, $135,738
and $75,350, respectively, and other int., $231,218 and13268,581, respect.
BALANCE SHEET DEC 31.
1911.
1910.
1011.
1910.
Assets-1
Liabilities$
$
Road & equip't_102,441,104 101,566,635 Capital stock_ __ 38,763,810 38,763,810
Trust eq. In cusp 2,282,500 2,770,500 Bonds, &c
55,053,352 55,053,352
Stocks owned__
327,436
319,427 Equip.tr. oblig_ 2,343,000 2,831,000
Other invest's _.
655,802
655,862 Bills payable
3,951,780 4,611,780
Cash
1,213,251
1,030,274 Net traffic bals_
23,212 '
50,123
Bonds owned
1,521,875
1,521,875 Vouch. & wages 1,410,808
1,278,320
Other avail.see_
9,175
9,175 Mat. int. unpaid
63,174
56,844
Loans & bills ree
204,166
219,933 Miscellaneous _
34,151
35,092
Agts. & condue_
461,535
469,169 Interest accrued
220,858
220,858
Misc. accounts_
594,464
749,628 Items in susp'se
197,239 '
40 216,270
Material &supp.
743,809
696,407 Res. for replac't 1,635,575
1,069,520
362,782
Advances
229,048 Add'ns to prop'y 5,445,531
4,571,062
181,294 Profit and loss
OthAtems in cusp
175,252
1,850,701
1,656,194
.110,993,191 110,414,225
Total
-V.93, p. 1535.
Total
110,993,191 110,414,225
Green Bay & Western Railroad.
(Report for Fiscal Year ending Dec. 311911,)
Gross EarningsFreight
Passenger
Mall, express and miscell
1911.
$436,949
165,331
58,204
1910.
$413,474
160,377
85,710
1909.
$375,395
157,967
55,557
Total earnings
$660,484
Operating ExpensesMaintenance of way, &c
$148,829
Maintenance of equipment_ 72,768
Traffic expenses
5,221
Transportation expenses__ _ 203,921
General expenses
22,541
$059,561
$588,910 •
$002,106
$114,539
89,767
5,547
202,647
28,615
$98,813
85,474
5,738
175,813
25,436
$103,431
• 04,102
•
4,496
• 168,297
• 24,782
Total operating expenses.$453,280
Net earnings
$207,204
Miscellaneous earnings_ _ _ _ 33,982
$441,115
$218,446
$391,274
$197,645
$395,108
$206,998
$241,186
Total
Taxes(also rents,deo.,in '11) $43,366
Depreciation
$218,446
$26,876
14,471
$197,645 •
$24,735
$206,998
$24.961
.
Balance
$197,820
$177,099
Paid on deb. "A's," 5% _ _ _ $30,000
$30,000
Paid on stock. 5%
125,000
125,000
Paid on deb."B`s"----( %)35,000 (M)35,000
$172,910
$30,000
125,000
I M)17,500
• • 1908.
• $384,389
•
159,318
• • 58,401
•
•
•
•
•
$182,037
$30.000
125,000
(%)26,250
$190,000
$190,000
$172,500
sur.$7,820 del.$12,901
sur.$410
GENERAL BALANCE SHEET DECEMBER 31.
1911.
1910.
1911.
LiabilitiesAssets$
$
$
Construe. dr equip_ 9,935,571 9,951,656 Capital stock..... 2,500,000
Material & supplies
22,300
10,695 "A"debentures.... 600,000
Coal account
2,928
6,176 "B"debentures__ 7,000,000
[Sills receivable__
29,693
29,693 Pay-roils
18,432
Casb
27,841
42,383 Accounts payable_
68,695
Chas.W.Cox,Treas. 384,211
326,313 Replacem't funds_ 112,498
General Auditor__
16,876
21,645 Due to railways..
5,717
Due from agents__
8,163
8,116 Tie account
Due from RR.cos_
32,091
34,884 Sundry accounts__
5,812
Stocks and bonds_
97,578
97,578 Dividends due Feb 100,000
Old rail account__
21,881
123,600
Profit and loss__ __
New rail account..
12,203
Tie account
8,552
Miscellaneous __ __
7,168
4,803
Balance
1:,
Total
-V. 94, p. 350.
10,624,853 10,552,145
Total
$181,250
sur.$787
1910.
$
2,500,000
600,000
7,000,000
19,019
28,821
93,694
8,024
8,908
9,505
190,000
94.171
.10,624,853 10,552,195
Public Service Corporation of New Jersey.
(Report for Fiscal Year ending Dec. 31 1911.)
The remarks of President Thomas N. McCarter will be
found at length on subsequent pages, together with the income account of the company and balance sheets of the company and its subsidiaries, and numerous interesting statistical
tables covering a number of years. Below we give the usual
comparisons of income account and balance sheets. A map
showing the lines of the system will be found in the "Electric
Railway" Section of Jan. 27 1912, pages 74 and 75.
1
[VOL. Lxxxxiv.
EARNINGS OF PUBLIC SERVICE CORPORATION OF N. J. AND
SUBSIDIARY COMPANIES FOR YEARS ENDING DEC. 31.
1911.
1910.
Gross earnings of leased and controlled companies.330.125,508 $27,654,552
Operating expenses and taxes
$13,041,591 $14,483,985
Amortization charges
672,654
257,315
Total expenses
510,814,345 $14,741,300
Net earnings
$13,511,163 $12,913,252
Public Service Corporation of N. J. Income from
securities pledged and from mind'. sources__ _ 1,890,513
1,532,348
Total
$15,401,876 $14,445,800
Deduct-Fixed charges leased and conted cos _511,066,652 $10,539,949
Fixed charges of Pub.Serv. Corp. of N.J. 2,540,242
1,835,356
Dividends
(6%)1,500,000 (5)1,250,000
Total deductions
$15,106,804 $13,625,305
Surplus
$294,782
$820,295
PUBLIC SERVICE CORPORATION BALANCE SHEET DEC. 31.
1911.
1910.
1911.
1910.
Assets$
3
Liabilities$
3
Invest. (at cost)..63,030,340 60,245,572 Stock
25,000,000 25,000,000
Gen.M.5s in treas.
5,360,000 Gen. M.5% bonds 30,000,000 21,500,000
AdvancesPerpetual interestPub.Serv. Ry__ 3,924,250 2,950,250
bearing cents...19,973,080 19,941,820
Pub. Serv. Gas_
150,000 3-yr. coll.5% notes
4,000,000
Pub.Serv. Elec. 250,000
900,000 Accounts payable_
176,141
102,106
Cash
3,472,424
233,701 Accrued interest.. 561,125
421,237
Accr.int. & rentals 485,799 1,384,662 Reserves
125,000
125,000
Accts. receivable_
74,825
105,705 Profit and loss _ _ 1,536,458 1,706,185
Advance payments
14,403
8,876
Def. chges. acct.
disc% & comm'ns 3,535,728 1,525,617
Total
77,387,769 72,870,383
Total.
77,387,769 72,870,385
SUB-COMPANIES--ALL OR SUBSTANTIALLY ENTIRE STOCK OWNED.
PUBLIC SERVICE GAS CO. BALANCE SHEET DEC. 31.
1911.
1910.
1011.
1910.
AssetsLiabilities$
$
Property
7,272,642 6,151,117 Stock
7,950,000 6,500,000
Investments
110,784 188,377 Mtges. payable
90,000
75,000
Cash
129,195
78,696 Accounts payable
958,832 742,838
Accounts receivable_1,358,654 1,106,450 *Adv. by P.S. Corp_
150,000
Materials &supplies_ 873,840 783,064 Rentals, bond int.
Advance payments._ 86,825
19,119
and taxes accrued_ 505,092 815,874
Reserves
11,923
7,774
Profit and loss..
315,493
36,236
Total
.9,831,940 8,327,723
Total
9,831,940 8,327,723
PUBLIC SERVICE ELECTRIC CO. BALANCE SHEET DEC. 31.
1911.
1910.
1911.
1010.
AssetsLiabilities$
$
Property
9,427,588 6,877,443 Capital stock
10,250,000 0,750,000
Investments
216,534 207,843 Mtges. payable
266,000 261,750
Cash
144,103 135,876 Accts. payable
612,356 566,249
Accts. receivable..J,251,607 1,206,040 Adv. by P. S. Corp_ 250,000 900,000
Materials dr supplies_ 743,245 L647,746 Rentals, bond int
Advance payment& _ 90,678 k44,104
and taxes accrued 340,272 574,775
Reserves
17,793 118,503
Profit and loss
if 137,334
47,775
11,873,755 9,119,052
Total
Total
11,873,755 0,119.052
PUBLIC SERVICE RAILWAY CO. BALANCE SHEET DEC. 31.
1911.
1910.
1911.
1910.
AssetsLiabilities (cont'd) 3
$
$
$
Property
84,652,890 83,648,774 Bonds of merg'd cos41,000,000 41,000,000
Investments
66,483
66,488 Mortgages payable 201,185
165,185
Cash
344,335
233,966 Equip.tr.ctts.,&e_
x88•1,000 1,151,097
Accts. receivable_
149,468
207,775 Adv.by P. S. Corp. 3,924,250 2,956,250
Materials and supAdv.byR.&Ft.L.F'y 75,000
plies
611,757
621,967 Accounts payable_ 972,414
872,279
Advance payments
25,938
30,051 Premium on bonds
19,785
19,785
Rent.,int.&txs.acer 611,556
588,189
Total
85,850,882 84,809,021 Deprec'n reserve
128,051
LiabilitiesProfit and loss....
34,641
56,235
Stock
37,794,900 37,716,300
Stock to retire stock
of merged cos
205.100
283,700
Total
85,850,882 84,809.021
x Equipment trust certificates, &c., include in 1911 $180,000 series A and $383,000 series B Pub.Serv. eq. ctfs. and $21,000 Camden & Suburban 1W. car trust Ors.;
In 1910 includes in addition to similar items $135,097 for leases of railway prop.
of So. Jersey Gas, Elec. & Tr. Co. and Bergen Turnpike Co.-V.94, p. 824, 699.
Federal Light & Traction Co., New York.
(Report for Fiscal Year ending Dec. 31 1911.)
Vice-President and General Manager C. C. Chappelle,
New York, March 16 1912, wrote:
During the year 1911 the earning power of the controlled companies, after
elimination of inter-company earnings and including properties acquired,
Increased from $722,553 to $1,496,177 In gross and from $314,157 to $609,082 In net earnings.
Upon March 1 1911 the company acquired control of the railway, gas,
electric and steam heating properties of Springfield, Mo., and upon Sept. 1
of the electric, gas, interurban and local railway properties of Trinidad.
Colo. (V. 92, p. 1499; V. 93, p. 411).
The recent sale to bankers of $3,000,000 30-year 5% bonds and $1,500,000 10-year 6% debentures provides the company with ample cash;
first, to fund temporary financing necessitated by acquisitions and improvements,and.second, to retire all outstanding bonds except $2,000,000 Springfield Ry. & Light first lien bonds sold last spring (V. 03, p. 1669).
As a result of the substantial increase In earning power and successful
financing accomplished, a larger share of tile constantly-increasing revenue
should accrue to the benefit of the common stockholders (V. 94, p. 559).
Capitalization, Based on Recent Financing.
Authorized, Outstanding.
Federal Light & Traction Co.Common stock _ _ _
_______
$5,500,000 $4,750,000
Preferred stock, 6% cumulative
5,500,000
2,500,000
First lien 5% gold bonds, due 1942
50,000,000
3,000,000
10-year 6% debentures_..
1,500,000
1,500,000
Secured notes, 5%. due 1914
,500,000
500.00
Underlying BondsSpringfield By. & Lt. 1st lien 5% bonds, due 1928... 7,000,000
2,000,00
Earnings of Controlled Companies, after Elimination of Inter-Company Earnings and after Provision for Reserve Funds-Calendar Years.
Gross.
Op.Ezp.&Tax. Net after Tax.
$1,496,177
1911
$609,082
$887,095
1,352,450
1910_
- .....
583,700
768,660
1,217,435
452,880
1909
704,554
1,127,451
403,488
1908.
___
723,963
The above includes four years' earnings of Springfield fly, & Lt. Co.
(control acquired March 1911), and of Trinidad Electric Transmission By.
& Gas Co. (property acquired Sept. 11011).
FEDERAL LIGHT & TRACTION CO. AND SUBSIDIARY COMPANIES
CONSOLIDATED BALANCE SHEET DEC. 31 1911.
Assets ($14,683,634).
Liabilities ($14,683,634).
Plants, real estate, &c_.$13,985,702 Preferred stock
$2,500,000
Material and supplies_ __
4,500,000
128,253 Common stock
271,419 Stock of subsid.(not owned) 164,800
Cash ________ - ____
Accounts and bills receivx2,630,900
Bonds (see text)
300,260 Notes payable (see text)- y3,545,300
• able and open accounts
169,471
Accounts payable
132,392
Interest and taxes accr'd
140,812
Reserves
899,959
_______ Surplus
z The bonds here '.nclude (but see preceding table) Springfield Ry. & Lt.
Co., $2,000,000; Gra,y's Harbor By. & Lt. Co., $490,000; Tucson Rapid
Transit Co., $8,9003TrinidadjEleol1'rans..11y.l& as Co.. $134,000.
THE CHRONICLE
MAR 30 1912.]
y The notes here include (but see text above) collateral trust 6% notes.
$2,000,000; Springfield purchase notes, $044,000; bank notes, $600,000;
notes of Springfield Cos., $1,300.
and Craig
Directors: James C. Colgate (President), Edwin N. Sanderson
Hobart Porter (Sec.), J. J. 13odell, R. E. Breed,
Colgate (V.-Pres'ts),
Herrick,
W.
Parmely
Crary,
Jerry
Colgate,
Anson W. Burchard, R. Ft.
William S. Iliff, V. Everit Macy,Samuel McRoberts and Harrison Williams.
McRoberts.
Burchard,
Williams,
Colgate,
Messrs.
Committee:
Executive
and Gen. Man. and
Sanderson and Colgate. C. C. Chappelle is Vice-Pres.
0. S. Moore is Treas.-V. 94, p. 559, 207.
International Agricultural Corporation, New York.
(Report for .1.3. Years ending Dec. 31 1911.)
President W. Schmidtmann, New York, March 25 1912,
wrote in substance:
909
financial condition of the company is showing constant improvement, and
while inventories are still necessarily large, the management believes that
their plans, involving a decided reduction of inventories and receivables,
will be effective before July 31 1912 to an extent that will permit the company to go into the coming fiscal year with practically no floating debt.
The automobile business is greatly subject to weather conditions, and is
seasonable in the respect that about one-third of the business is done in the
first six months of the fiscal year and two-thirds in the last six months.
The experience of the companies comprising the United States Motor Co.
has shown that the profits on automobile manufacturing for the year's
cycle of operation are developed about 33 1-3% in the first six months and
66 2-3% in the last six months.
Much necessary readjustment in the matter of effecting economies and
greater efficiency in operations has been going on continually, but it is difficult to make any drastic changes or alterations except between seasons,
for when the year's program is laid down, it is difficult to make decided
changes until it is worked out.
The prospects for the heavy selling months-April, May and June-arevery bright. There are orders on hand now up to the capacities of the factories for the next ninety days, and if the present rate of sales through our
selling branches and dealers is maintained, the sales will exceed the company's capacity to manufacture. During March the sales have been running at about $100,000 a day.
RESULTS FOR SIX MONTHS ENDED JAN.31 1912 AND 1911.
will convey some conception
Dividends, &c.-The accompanying figuresbeen
accomplished during 2'4
has
of the amount of constructive work that
dividends of 7%
maintaining
Besides
existence.
years of the corporation's
surplus, the corporation has greatly Imand accumulating a substantial its
to the
materially
added
and
properties
of
condition
physical
proved the
plants, until it can now offer the
1910-11.
1911-12.
number of its phosphate properties and for
production and distribution.
of the automobile manufacturing plants (Maxfine lied product at 21 centres, favorablefor
absorbing and distributing prof- Sales
Acid.-Faellities have been provided
well-Briscoe Motor Co., Columbia Motor Car Co.,
provided
maximum
the
to
up
Dayton Motor Car Co., Brush Runabout Co. and
itably the steadily increasing production
$9,045,631 $8,042,920'
under the new 10-year contract.
Alden-Sampson Mfg. Co.)
been corFreight Rates.-The handicap in the distribution of this acid has
of Briscoe Mfg. Co., Providence Engineering
Sales
Commission,
Commerce
mobile
(non-auto
Co.
Motor
and
Gray
rected by the recent decision of the Inter-State
Works
amount1,083,179
1,286,456
awarding this company,effective April 15 1912, a reduction in ratespoints
manufacturing plants)
in
to the consuming
ing to from 7 to 51% from Copper Hill, Tenn.,
Profits from operations of U. S. Motor Co. and its
of the excess heretofore paid.
the South. We are also to receive a refundsubsidiary
715,059
manufacturing branches
companies we have
Phosphate Rock.-Direetly or through
Compare report for fiscal year ending July 31 1911, V. 94, p. 553.
shipped phosphate rock as follows: 1910, 632,960 tons; 1911, 768,888 tons.
Cash.-The increase in cash on hand is largely due to funds received from
the sale of one-half interest in the Solistedt potash property, and conseMay Department Stores Company.
quent adjustments in connection therewith. The sale of this property
represents a substantial profit and, as well, a favorable settlement of difficulties that had arisen in connection with its operation through the German
for Fiscal Year ending Jan. 31 1912.)
(Report
potash law (V. 94, p. 70; V. 93, p. 289, 1107). Our position in the potash
business will be as favorable as that enjoyed by any Americans.
PROFIT AND LOSS ACCOUNT YEARS ENDING JAN. 31.
business
and,
rounded
Status.-The corporation now has a completely
Deduc'ns (con.)- 1911-12.
1910-11.
1011-12, 1910-11.
with the constructive period passed, evenhnore favorable results than here$11,330
813,092
$1,668,895a$1,725,158 Bad debts
tofore accomplished may be confidently anticipated.
Net profits
14,323 Depr'n &amort'n c 164,528
173,099
30,240
acct._
of
bal.
Int.,
30
JUNE
CONSOLIDATED INCOME ACCOUNTS, YEAR ENDING
Reserve for trading
10,000
____
Miscellaneous
AND SIX MONTHS ENDING DEC. 31 1911.
stamps unred'd_
25,000
d511,084
$1,709,085 $1,739,481 Paid to vendors.
Total
Yr. 1910-11.6 Mos.1911
dividends
Pref.
(7%)350,000(3
Si)175.000,
Dedua$2,041,917 $1,199,228
Gross earnings
$60,000 b$37,500 Corn. dividend (1%)150,000
359,314 Officers' salaries
621,571
General selling and overhead expense
49,982 Special surp. acct. 300,000
9,6241
General expenses_
S.
U.
incl.
Taxes,
$839,914
$1,420,346
Total deduc'ns..$1,059,671 $984,757'
14,1891
inter, rev. tax__
456,360
835,527
Dividends, 7% preferred stock
Balance,surplus__ $649,414 $754,724
to organization, the company havingprior
cos.
of
vendor
operations
Includes
a
$383,554
$584,819
Balance after dividends
been incorporated June 4 1910. b For 7% months only. c Depreciation of buildEquivalent to earnings on average common stock
d Percentage of sales to June 15 1910.
leases.
of
and
amortization
fixtures
and
ings
9.82%
8.37%
outstanding at annual rate of
paid to vendors in lieu of profits for period prior to organization.
CONSOLIDATED BALANCE SHEET JUNE 30 1911 AND DEC.31 1911,
BALANCE SHEET JANUARY 31.
J'ne 30'11. Dec. 31'11.
J'ne 30'11. Dec. 31 '11.
1912.
1911.
1911.
1912.
LiabilitiesAssetsAssets957,329 3,151,917 Preferred stock_ ...12,460,000x13,040,200
Cash
17,438,545 Preferred stock...5,000,000 5,000,000+
i7,775,746
acct.
Property
x7,809,000
7,835,900
stock...
Common
Notes & acc'ts rec. 4,573,394 3,984,007
151,100 Common stock_ ..15,000,000 15,000,0011
320,827
7,740,571 8,096,000 Investments
Accrued earnings_ 823,7951 1,072,553 Bills payable
2,688,762 2,385,889 Sundry personal
645,663 Inventories
742,640 Acc'ts payable_ 474,864
Acid contract.... 742,690
389,819
accts. for dep.,Src 144,563
488,427
626,988
rec_
bills
&
Accts.
76,204
78,012
Mdse. on hand_ __ 1,876,458 3,224,334 Accr'd accounts__
Sundry creditors &
2,750 Delivery horses,
750
Bonds of sub. cos
Fertilizer & deaccts. payable__ 457,578
133,341
32,910
44,270
&c
equip.,
cumuiafor
Res've
1,584,133
greasing plants_ 1,377,113
77,787 Reserve for trading
Sundry debtors...96,271
tive div. on pre102,717
93,379
Peat & marl prop..
st'ps, coup. &
expenses,
Prepaid
456,360
_
458,281
_
stock
ferred
3,588,741
3,575,285
prop_
Phosph.rock
99,350
115,338
corp. tax
44,132
53,314
insurance, &c__
Invest. sub. cos__15,219,154 13,280,057 Reserves for dis275,000 Special sur. acct. x300,000
113,090 Loans sec. by coil_
50,000
counts, &e
17,057
25,353
Tank car equipm't
754,724
1,404,137
483,439 Surplus
815,438
Cash
36,474
lOS8C3
fire
for
Res've
5,276
4,786
fixt's
&
Office funi.
386,813 Surplus earned... 1,129,422 1,517,423
Prep'd royalties,&c. 317,947
Total.
22,421,616 21,377,229
22,421,616 21,377,229
Total
644,614
Organize.exp's _ 644,465
Total
30,227,800 31,793,165
Total
30,227,800 31,793,165
x The capital stock is shown after deducting amounts in treasury, namely,
Dee 31 1911, $87,500 pref. and $1,521,900 com.-V.94, p. 282.
Sloss-Sheffield Steel 84 Iron Co.
(Report for Fiscal Year ending Nov. 30 1911.)
-•••.1•111.1
EARNINGS, EXPENSES AND CHARGES.
1911.
$284,350
Profits on pig •
Profits on coal after de79,469
ducting for depreciat'n
122,151
Profits on coke
Oro and dolomite sales._
Rents, royalties, stores do
228,816
miscellaneous, Ste
13,685
Dividend on treasury stk_
Interest and exchange
Consists of real estate, leases, improvements, furniture and fixtures, good-will
and trade names,in St. Louis, Mo.; Cleveland, O.; and Denver, Colo.-cost of acquisition at Feb. 1 1910, $17,500,000; additions since, $613,373; total, $18,113,373:
deduct reserve for depreciation of buildings and fixtures and amortization of leases,
$337,627; balance, as above, $17,775,746. x Special surplus account, $300,000,
appropriated to cover charter requirements down to July 1 1912.
The company also has a contingent liability consisting of deferred payments on
account of acquisition of Wm. Barr Dry Goods Co. leaseholds and business in excessof resources still to be collected therefrom, say,$175,000.-V. 93, p. 1025.
1910.
$474,407
1909.
$896,816
1908.
$889,653
113,190
159,401
119,695
162,013
99,190
132,829
388
Marconi Wireless Telegraph Company of America.
(Report for Fiscal Year ending Jan. 31 1912.)
Secretary John Bottomley, New York, says:
The balance sheet shows that fairly satisfactory business has been done •
and advances made in the progress of the company. Our auditors have
deducted for depreciation on all station and experimental work the usual
remains; also after
52,466
21,996 10%, and after such deduction a working balance
34,975
writing off the debit of profit and loss account, a small amount stands to
the credit of this account.
$1,285,740
$1,454,347
$1,001,002
$733,510
. Total
In November 1911 your company extended its activities to the Pacific
Deduct general expense
have already been
111,780 Coast and 14 vessels, both passenger and freight, and
117,400
119,480
118,861
acct., taxes & licenses_
San Diego, and
equipped; stations have been erected at San Francisco
intention to erect
It
the
is
are
satisfactory.
date
eminently
to
receipts
$881,522 $1,336,947 $1,173,960
$614,649
Net profit
prominent points, so that the
$210,000 other stations on the Pacific Coast, at most the
$210,000
$210,000
$210,000
Bond interest
very efficient service now
469,000 service on the Pacific Coast will rank withCoast.
469,000
469,000
469,00C1
7% dividends on pref.__ _
by this company on the Atlantic
-(3 4)375,000 (5)500,000(4)4)425,000 provided
Dividends on common_
Following the very favorable decision in the patent action which was
in England by Marconi's Wireless Telegraph Co., Ltd., of London,
Balance for year
def.$64,351 det$172,478 sur $157,947 sur.$69,960 obtained
your company has commenced actions against vatious users of wireless
$3,042,692 $3,107,044 $3,279,522 $3,216,348 apparatus,
surplus Nov. 30
which it claims infringe the Marconi basic patents, notably
the United Wireless Telegraph Co. and the Clyde Steamship Co..
• After deducting for depreciation on iron ore and 25 cents per ton on iron against
the New England Navigation Co.. using apparatus supplied by the Massie
for extraordinary repairs and renewals.
Wireless Telegraph Co., and the National Electric Signalling Co., which
operates under the Fessenden system. Evidence has been submitted in
BALANCE SHEET NOVEIIIBER 30.
some of the cases,and an early trial before one of the Judges of the U.S. Dist.
1910.
1911.
1011.
Court will be had. Without prejudging the case, we think we may confi1910.
Liabilitiesdently look for a decision in our favor similar to that obtained in England.
ResourcesPrsperty account_22,040,736 21,998,492 Preferred stock... 6,700,000 6,700,000 (See also circular on a following page.)
10,000,000
.10,000,000
_
900,306
stock_
Common
bonds..
399,157
Siscks and
BALANCE SHEET JANUARY 31.
Sloss Iron & Steel
Stop. raw and fin2,000,000 2,000,000
976,506
Co. es
1911.
1912.
1912.
1911.
ilhed materials_ 1,027,881
67,680
Steel
Iron
&
73,460
Sloss
stores
$
$
$
Stack in co's
Assets244,243
Co. 4% bonds 2,000,000 2,000,000 Patent rights, goodCapital stock issued 1.547.500 1,547,500
Treasury securities 299,293
Bills and accounts
36,300 •
Cash, bills and acwill and contract_1,416,363 1,908,991 Less treasury stock_ 36,300
857,949
772,305
933,150
865,366
payable
excounts reedy_
76,823 Cost stations and
6,342 Pay-rolls
6,203
48,764
1,511,200 1,511,200
Iniurance & taxes.
perimental work,
3,042,693 3,107,044
Profit and loss._
Extraord. repair &
depreciation _ _ 108,945 102,340 Loans and notes payless
110,466
97,418
10,100
15,850
able
renewal account
23,044
Apparatus on hand_ 23,180
18,030
7,679
Accounts payable_ 18,785
rented, &c__
24,656,823 24,741,816 Equip.
Total
24,656,823 24,741,816
1,458
1,458
469
Total.
606 Mortgage
Unexpired insurance.
Tel.
Wireless
5.17.
Marconi
P.
19.865
receivable_
21,540
93,
V.
Accounts
Co.,
Ltd.,
London.
12,654
4,952
Cash
legal expense ac1,039
1,118
Furniture & fixtures_
United States Motor Co., New York.
29,542
23,445
count
Adv. acct. of Pacific
15,238
Surplus
Coast installation
(Statementfor Half-Year Ending Jan, 311912.)
1,300
and expenses
1,721
Deficit .
President Benjamin Briscoe reports to tile "Chronicle":
31
1,592,073 1,564,233
Total
.1,592,073 1,564,233
Total
The sales from the company's branches for the six months ending Jan.
the
• .
1912 were over 30% greater than for the corresponding six months of The
• See also statement on a following page.-V. 93, p. 43 e
preceding year, notwithstanding the extraordinarily severe winter.
219,029
223,357
141,684
910
THE CHRONICLE
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
Artesian Belt RR.-Sold.-The Texas RR. Commission
has been advised that the road has been purchased by H. E.
Hildebrand of San Antonio for $200,000.
Mr. Hildebrand says that he will not be in position to divulge what interests he represents until about May 1. The road extends from Macdonna,
12 miles west of San Antonio, to a point 60 miles south.
Belt RR. & Stock Yards Co. of Indianapolis.-Dividends.
-A dividend of 2% has been declared on the $1,500,000
common stock, payable April 1, comparing with 3% in
Jan. last and with semi-annual disbursements of the same
amount in Jan. 1911 and Jan. and July 1909 and 1910. No
cash payment was made in July 1911, a 50% stock dividend
($500,000) having been distributed.
Cash Payments on Common Stock Since 1905 (Per Cent).
1905.
1906.
1907.
1908.
1909.
1910.
1911.
1912.
8
8
11
12
6
6
3
Jan., 3; April, 2
-V. 92. D. 1700.
[VoL. Lxxxxiv.
Chicago Union Transfer Ry.-Sale.-See Belt Ry. of Chicago above.-V. 73, p. 1207.
Chicago its Western Indiana RR.-Enlargement of Terminals.-See Belt Ry. of Chicago above.-V.94, p. 826, 630.
Citizens' Light & Transit Co., Pine Bluff, Ark.-Sale.The directors on March 20 ratified the deal through which
New York interests purchased the property, which will be
turned over to the Pine Bluff company with $1,200,000
stock, and which will own and operate the water works, light
and street railway facilities.-V. 90, p. 976.
Concord & Montreal RR.-Stock Offered.-The $375,300
of the $400,000 stock recently authorized by stockholders was
sold at public auction on March 27 to President B. A. Kimball for his personal account at $160 per share, to reimburse
the Boston & Maine for advances for impts.-V. 93, p. 1021.
Dallas (Tex.) Electric Corp.-Second Pref. Dividend.-A
semi-annual dividend of 24% has been declared on the $2,000,000 present 5% non-cumulative 2d pref. stock, payable
April 8 to holders of record March 7, comparing with 3% and
2%,respectively, in Oct. and April 1911 and 1% in Oct. 1910.
Belt Railway CO. of Chicago.-Enlargement of Joint Lease
and Terminal Facilities.-Nine addit onal railroad companies
have joined with the five roads which have been operating Dividend Record of Present 2d Pref. Stock (%)-Compare V. 89, p. 778.
1906.
1907.
1908.
1909.
the Belt Ry. of Chicago under the 999-year leases made in. 12904.
2 (Oct.)
0
34 (April)
1(0
910
c.
t).
1883 from the Chicago & Western Indiana RR. The agreeRegular semi-annual(A
c.
prec
dividends of 3% each have been paid on
2
since its issue, the 1st on Oct.11 1909.-V.94,p.416
ment under which the other companies have come in. the present 1st5pref.stock
Delaware Lackawanna & Western RR.-Fine.-The comcalls for a vast improvement in the terminal facilities at Chicago, removing present congestion, facilitating the exchange pany was on March 19 found guilty in the U. S. District Court
of freight and eliminating the smoke nuisance from loco- at Buffalo of violating the commodities clause of the Hepmotives in the city. The additional tracks, clearing yards, burn Act and fined $2,000.
&c. required will be constructed and acquired by the Chicago
The indictment was on 20 counts, the charge being that it shipped free
from Buffalo, N. Y., to Scranton, Pa., a quantity of hay to be used in
& VVestern Indiana and leased by that company to the Belt feeding
mules in the mines. An appeal will be taken to the U. S. Supreme
Ry. Co., as is the present belt division.
Court to test the constitutionality of the penal feature of the commodities
The railroad companies concerned in the agreement are:. Atchison Topeka
& Santa Fe, Chicago Rock
& Pacific, Illinois Central, including Chicago Madison & Northern, Pennsylvania Lines, Chicago Burlington &
Quincy, Chicago do Alton, "Soo" Line, Chesapeake & Ohio, Grand Trunk,
Wabash, Erie, Monon and Chicago & Eastern Illinois. The last five are
the old lessees.
The Belt Railway already forms what is known as the "Inner bel,"
encircling the city from South Chicago to Cragin, a distance of 22 miles,
intersecting all the roads entering Chicago. Under the plan all through
freight will be distributed from clearing yards, which will do away with the
hauling of transfer freight trains in and out of the city's congested downtown terminals.
The agreement provides that the Chicago & Western Indiana shall purchase for $4,400,000 the Chicago Union Transfer Ry. property (V. 73, p.
1207), which includes a clearing yard 3 Yi miles by a half mile in extent and
100 miles of track and a capacity of 5,000 cars a day. Additional yards
and tracking will be provided as may be needed. The financing will be
done,as heretofore, through the Chicago & Western Indiana, and the property leased to the Belt Railway Co. The existing leases to the trunk lines
are to be readjusted so that the rentals thereunder shall be equal to the
Interest at 4 3i% on $14,000,000, the estimated value of the present Belt
Co. property.
• The Belt Co. Is to increase its stock from $1,200,000, which is now held
by the original five lessees ($240,000 each), so as to give each of the new
lessees named above and others who may join a similar holding of stock,
to be purchased at par, viz., $240,000 in cash. (See also article in "Railway
Age Gazette" of March 22, page 693.)-V. 58, p. 986.
clause. Compare Delaware & Hudson Co. item, V. 94, p. 630.-V. 94.
p. 549, 559, 350.
Federal Light 8s Trac. Co. N. Y.-See "Ann. Reports."
Bonds Offered.-White Weld & Co., New York 'and Chicago, are offering at 934 and int., yielding about 5.44%,
by advertisement on another page, the unsold part of
$3,000,000 first lien 5% sinking fund gold bonds, dated
March 1 1912 and due March 1 1942, but redeemable
as a whole, but not in part, at 102 and int. Par: c* $1,000
and $500; r multiples of $1,000. Trustee, Columbia Trust
Co. of N. Y. Int. M. & S. The company will reimburse the
purchaser for the 4-mill State tax in Pennsylvania.
Extracts from Letter of C. C. Chappelle, V.-P. & Gen. Mgr., Mch. 25 1912.
Secured by First Lien Through Deposit of Securities.
The mortgage provides that all the first mortgage bonds of public utility
companies in the following communities shall be deposited with the trustee,
thereby making these bonds a first lien on all of the property of the following companies (all but four established, in part at least, prior to 1900):
(1) Albuquerque (N. M.) Gas, El. Lt. & P. Co.-Gas and electric light and
power; and (2) Albuquerque El. Pow. Co., furnishing electricity to
last-named company.
Trinidad (Colo.) Electric Transmission, Ry. & Gas Co.-Electric light and
power; gas; city and interurban electric railway.
Boston Revere Beach & Lynn RR.-Increase of Stock.- Grays
Harbor (Wash.) Ry. & Lt. Co.-Electric light and power and electric
The stockholders will vote to-day on authorizing an increase
railway service in and between cities of Aberdeen, Hnquiam and CosWash.
of $170,000 in the stock, making the total amount author- (1)mopolls,
Sheridan (Wyo.) El. Lt. & Power Co.-Electric light and power; and (2)
ized $1,020,000.-V. 93, p. 939.
Sheridan County El. Co., furnishing electricity to last-named company
and to coal mines for power.
Calgary & Edmonton Ry.-Mortgages Filed.-There have Tucson (Ariz.) Gas, El. Lt. & Power Co.-Gas and electric light and'power.
(Ariz.) Rapid Transit Co.-Street railway service.
been filed in the office of the Secretary of State of Canada Tucson
Las Vegas(N. M.) Lt. & Power Co.-Electric light and power and street ry.
2 mortgages dated Jan. 17 between the company, the Royal Montrose
(Colo.) El. Lt. & Power Co.-Electric light and power.
Rawlins
(Wyo.) El. Lt. & Fuel Co.-Electric light and power.
Trust Co. and the Canadian Pacific Ry., viz.:
Hobart (Okla.) Electric Co.-Electrio light and power.
One covering the 125-mile extension of the Lacombe branch and the other
Practically the entire capital stooks of each of the above twelve companies
the branch from Strathcona to Edmonton, including the high-level bridge and, subject to a lien of $500,000, the entire $1,600,000 stock of the Springfield (Mo.) Ry. & Light Co. will also be subject to the lien of the mortgage.
over the Saskatchewan River. Compare V. 93, p. 1785.
The Springfield Co. and its subsidiaries furnish gas, electric light and power,
Central Park North & East River RR., New York.-De- steam
heat, and city and suburban electric railway service. None of the
cision.-The Appellate Division of the Supreme Court on companies whose bonds or notes are to be deposited can increase their fixed
obligations unless the same are pledegd under this mortgage.
March 22 dismissed the appeal from a judgment for $124,796 charge
Total rated capacity of the electric generating machinery at present installed by the subsidiary companies is 23,047 h.p.
in favor of the city for repaving on 59th St.
Capitalization.-The proceeds from the sale of these $3,000,000 bonds
The interest, it is stated, now amounts to $19,852, the suit having been and of $1,500,000 6% (secured)
debentures will be used to retire $2,000,000
begun about 6 years ago.-V. 94, p. 278.
6% notes of the company due Feb. 15 1913 (called for payment) and an
Central Vermont Ry.-Guaranteed Bonds Sold.-The Cen- floating debt of the company, except $500,000 notes secured by Springfield
Railway & Light Co.'s stock. All outstanding indebtedness (except intral Vermont Transportation Co. has sold an issue of $1,000,- debtedness
for current operation) of the foregoing companies, except the
000 5% 10-year serial bonds to finance the construction of Springfield Company, also will be retired or pledged under the mortgage.
Followed
by $1,500,000 10-year 6% debentures, $2,500,000 6% pref.
two new steamships which the Grand Trunk interests have stock quoted at
80 and $4,750,000 common stock quoted at 38, making the
arranged to put in service between Providence and New equity behind these bonds at present
quotations over $5,200,000.
Lien
First
Bonds.
-These bonds are part of an authorized issue of $50,York when the new State wharf at Allen's Avenue, Provi- 000,000, but additional
bonds can only be issued as follows:
dence, at the terminus of the Southern New England Ry., 1. For future improvements, betterments and acquisitions at 75% of cash
cost; when the consolidated net earnings of the properties and acquisitions
now under construction, is made available for use. The
for 12 months are twice the interest charge, including all bonds to be
bonds will be guaranteed by the Central Vermont Ry.
Issued; and in case of acquisition [with approval of White, Weld & Co.]
of new companies or their securities when 95% of all bonds and.60% of all
The boats will be called the Narragansett and the Hudson, and will carry
stock of each are deposited with the trustee.
both freight and passengers in competition with the New Haven company's
For conversion of $1,500,000 6% debentures after March 1 1913, pro2.
Fall River and Providence and other Long Island Sound lines. The cavided consolidated net earnings of the properties for the previous 12
pacity will be 700 passengers and 500 tons of freight each.
months have exceeded 2 54 times interest charges on all 1st M. bonds
It is announced that the Central Vermont will this summer begin the
outstanding and $1,666,667 such bonds issuablo against conversion.
development of the New London, Conn., terminal as a summer resort. New
[In computing earnings, as above, those of the Springfield R.& Light Co.
rails will be laid on the New London division and the main line of the northern division double-tracked, putting the road in shape to handle a greatly (and the Federal Co. therefrom) shall not be included unless 95% of the
stock have been deposited.]
increased travel. Two new trains will be put on between Montreal and Springfield bonds and its entire capital
Annual sinking fund payments for redemption of bonds if purchasable at
New London, similar to those in service between Montreal and Boston,
invested
in new property subject to
be
102
or
below
and
otherwise
to
int.,
leaving Montreal at 8 p. m., arriving at New London at 8 a. m., returning
from New London at 8 p. m.and arriving at Montreal at 8 a. m. This serv- the mortgage: 1 A% of bonds outstanding March 1 1913 to March 1 1923;
ice will give Canadians and people in the Middle West a one-night ride 2% 1923 to 1033;234% 1933 to maturity.
service to New London.-V. 94, p. 350.
Consolidated Earnings of the Properties on which these Bonds have a First Lien.
1911.
1908.
Calendar Years1910.
1909.
Chesapeake & Ohio Ry.-Decision.-A jury in the U. S. Gross
earnings
$992,825 $908,266 $841,080 $796,944
exp.) _5382,381 $390,665 $281,723 $272,421
District Court at Cincinnati on March 27 awarded the estate Net earnings (after operating
The net earnings of these properties for each of the past two years were
of Thomas McKell (a Chillicothe, Ohio, banker) a verdict of more
than 2 3.5 times the $150,000 interest charges on these bonds. In
$300,000 against the company.
addition, the Springfield fly. Fe Light Co. shows net earnings for 1911 applidividends on its stock, after deducting interest on the *500,000
to
cable
The suit grew out of a claim that the railroad abrogated a contract to notes secured by such stock, of $101,701
77, making a total of $484,083
take coal from mines in West Virginia, the damages asked being $3,575,000. applicable to payment of the $150,000
interest on these bonds.
The case, It is said, has been in the Ohio and Federal courts for about ten
The Federal Light ec Traction Co. has paid regular quarterly dividends
years. Governor Harmon was chief counsel for the road, the taking of of 1 34% on its preferred stock since
its organization in 1910.
testimony consuming 21 days.-V. 94, p. 766, 629.
Territory Served.-The cities served are enterprising, prosperous and
substantial in character. They have shown steady and rapid growth
Chicago & Milwaukee Electric RR.-Earnings.during the past 10 years. The population of the cities and tributary terriCalendar
Operating
Other
Net
Balance, tory served, including Springfield, Mo., (36,410) is estimated at 155,000.
Interest
Revenues.
Revenue.
YearIncome.
Surplus. The companies have no competition in their several fields except at Grays
and Taxes.
$952,190
$330,898
1911
$16,037
$119,217
$227,717 Harbor. where a small gas company is in operation.
961,473
249,990
13,586
1910
114,747
148,829
management.-See aforesaid annual report on a preceding page.
-V. 94, p. 630, 550.
V. 94, p. 559, 207.
ili AR. 30 19J2.]
THE CHRONICLE
Denver & Rio Grande RR.—$25,000,000 Adjustment
Mortgage Bonds, Present Issue to be $10,000,000.—The shareof
holders will vote April 27 on authorizing: (1) An issue
not exceeding $25,000,000 "adjustment mortgage[7% cumudate),
lative] bonds," to be dated April 1 1912 (or some later
redempand to be payable April 1 1932, with right of prior
intertion on any interest day. (2) The offering at par and
record
est of $10,000,000 of said bonds to stockholders of
for
May 11 1912. (3) An agreement with a syndicate
ten
underwriting said offer the issue having been underwrit
by Blair & Co. and William Salomon & Co.
911
Indiana Union Traction Co.—Proposed Consolidation.—
The adjourned stockholders' meeting was again adjourned on
March 28, now till April 25, in order to allow further time for
the completion of the plan of consolidation and to afford the
the same.
stockholders ample opportunity to consider
s are in consultation-with
It is announced that a number of stockholder
5 1912 with reMarch
appointed
the directors and the advisory committee
of Indiana
spect to the plan for the consolidation of the Union Traction Co.prepared
to
and the Indiana Union Traction Co., but that they are not yet
submit their conclusions. As soon as the plan is sufficiently developed,
copies will be submitted to the stockholders by mail. In the meantime
Comthe stockholders will be kept advised by mail of the progress made.
pare V. 94, p. 826.
lis & Louisville Electric Ry.—Successor Co.—See
Indianapo
New York, hich. 22 1912.
below.—V.88, p. 101.
Digest of Statement by Chairman E. T. Jeffery,
of $25,000,000 Indianapolis & Louisville Traction Co.
issue
an
of
n
authorizatio
the
recommend
The directors
cumulative interest at
Co.—Foreclosure Sale.
Traction
&
Louisville
lis
Indianapo
adjustment bonds, to mature April 1 1932, bearing
York,
New
in
to be payable
on March 21 by
rate of 7% per annum—principal and interest
mortgage to the New York Trust —The road was purchased at foreclosure sale
London and Amsterdam—secured by a offered
$10,000,000 of the bonds to James C. Chaplin of Pittsburgh, representing the first M.
Co., trustee, and that there be forthwith
infirst
holdings, at par and int. The
$750,000.
stockholders,in proportion to their
absolutely on Oct. 11912, and thereafter bondholders at the upset price of
stallment of Interest to be payable (A.
0.) in such amount as the board
The Indianapolis & Louisville Electric Ry. has been incorporated In
interest to be paid semi-annuallyin the&mortgage out of the surplus net inIndiana as successor, with $1,200,000 auth. stock.
shall determine under provisions
Dec. 31 or June 30 immediately preAuthorized bond issue of the new company,$1,500,000, of which $625,000,
come during the six months ending
be paid at maturity or at date of earlier re- is to be held in the treasury for extensions and improvements. Officers
ceding; all arrears, if any, tobe
company on any and directors: President, Jerome Hill, Pittsburgh, Pa.; Vice-Pres. and Gen.
of
option
at
redeemable
to
bonds
demption. These
of $500,000 at 115 and int. The Mgr., John E. Greeley, Louisville, Ky.; Treas., Chas. C.Tennis, Pittsburgh,
interest date as a whole, or in blocks
physical property now owned and Pa.; Sec., Nathan G. Eyster, Pittsburgh, Pa. Directors include the above
mortgage will cover substantially allsuch
stocks, bonds and other obliga- and Bethel B. Vccch, Louisville, Ky.; Jas. C. Chaplin, Pittsburgh, Pa., and
and
bonds,
such
with
any acquired
everything that is Wm. E. English, Indianapolis, Ind.
tions as it may be deemed advisable to pledge, including
The new company proposes to greatly improve the service of the Hoosier
subject to the "first and refunding mortgage." privilege will be given to
the
is
ratified,
offering
proposed
and Dixie Flyers now operating between Louisville and Indianapolis, and
In case the
June 1 1912, contemplates the extension of the present line to Madison, Ind., and evenstockholders of record on May 11 1912 to subscribe until noon
holdings of stock;
a year to be able to start work
at par and int., for amounts proportioned to their several of subscription. tually to Cincinnati. It is hoped within
on the projected line from Scottsburg to Madison, 26 miles.—V. 94,p.697.
subscriptions to be paid in four equal installments at time
, in each case with accrued
Aug. 1, Sept. 3 and Oct. 1 1912, respectively
11 1912.
Interborough-Metropolitan Co.—Offer to Exchange.—The
interest. Subscription warrants will be issued about May
Practicable.
as
Date
trustees early last week announced that they would,
a
Early
at
as
voting
Capital
Expenditure
Further
for
Necessity
in Utah at
The company's main line crosses the Wasatch Mountains
request of preferred stockholders who might desire,
the
at
side is by very
Soldier Summit, to which the present ascent on the western
which
the voting trust certificates for regular stock ctfs.
grades,
these
exchange
over
pass
traffic
must
our
All
through
heavy grades.
states that the offer is made because certain Stock Exseriously impede its movement and cause undue expense.
company
The
about
the preferred stock
To relieve this difficulty it is proposed to construct a detour linewith
change firms have complained that they hgd deposited
a
in
a
Tucker,
near
a
point
to
Summit
from
Soldier
length
14 miles in
with the trustees under a misapprehension, and that since fordifference
the regular
between the quotations
maximum gradient of about 2% (against the existing gradient of 4%) and
developed
has
1%
about
of
price
to
M
miles
16
shares
westwardly
the
track
obtain
to
a
second
as
line
wished
detour
this
they
continue
certificates
trust
to
certificates and the voting
Thistle at not exceeding the same maximum gradient. It is estimated
The ruling affects only the complaining firms and
of about they had exchanged.
mean that the voting trust is in
that this detour line alone will result in a saving in operative costline
track not depositors as a whole and does not
$491,000 per annum. It is also proposed to build a second main
dissolution.
from Castle Gate process of
85% of the $45,740,000 pref.
and
common
from Thistle to Midvale, a distance of about 54 miles, and
of
80%
the
$93,262,192
About
an
not only afford
deposited with the voting trustees under a five-year agreeto Kyune, about 7 M miles. These improvements will
our double- stock has beenMarch
6 1916.—V. 94, p. 207, 203, 68.
improved grade over Soldier Summit, but will also complete
expiring
ment
City,
Lake
Salt
to
fields)
track from Helper (in the heart of the Utah coal on now congested.
International Traction Co., Buffalo, N. Y.—Substituted
about 115 miles, greatly facilitating transportati
tracking, at a
These improvements, bring the detour line and the double
he bondholders' committee, Robert L. Fryer,
Plan.—T
in
saving
work a
probable aggregate cost of $3,700,000, arc estimated to
winter
and
, gives notice by advertisement on another page
fall
past
of
Chairman
that
to
equal
traffic
of
volume
a
operations upon
of the $18,335,000 50-year 4% collateral trust
99%
months of more than $600,000 per annum.
that
years, our
Notwithstanding considerable purchases in the last three
of 1899 has been deposited under the agreement
traffic.
bonds
present
gold
for
inadequate
is
,
equipment, and especially the locomotives
proposed bonds for 'of June 21 1910 (V. 90, p. 1675), but that, owing to the unAn expenditure of the proceeds of $2,500,000 of the$500,000
per annum.
Commission to permit the
such equipment should increase revenue not less than
acquire obligations of willingness of the Public Service
It is proposed, out of $2,500,000 of the bonds, to under
the adjustment capitalization called for by the "modified plan" (V. 92, p.
the Western Pacific By. Co. and to pledge the same
will be used by
he
with J. P. Morgan &
mortgage. A portion of the proceeds of these obligations
of interest on its 1st M. bonds, 261), the committee has filed
the Western Pacific Co. toward payment
Co.,darch
revenues of the Denver & depositary, a "substituted bondholders' plan," dated
protecting not only those bonds, but also the relations
with the Western
Rio Grande RR. Co., in view of its contract on the latter's 1st M. The 22 1912, which has already received the approval of owners
Pacific and its guaranty of interest payments is
for important of a large amount of the deposited bonds. Depositors are
used
be
to
$2,500,000
this
of
proceeds
the
of
remainder
completion of the
ation by filing promptly
improvements on the Western Pacific, including the Lake
City, and the asked to expedite the reorganiz
of Salt
low grade line (Arnold's Loop) 145 miles west
equipment, their assent to the "substituted plan."
the
of
e
maintenanc
proper
for
necessity
a
,
Sacramento
at
shops
a considerable
also to acquire a modern ferryboat, which will help to develop
The aforesaid plan calls (1) for the exchange of the existpassenger traffic to and from San Francisco.
contemis
it
collateral trust 4s, $ for $, for new 4% collateral trust
ing
bonds,
$10,000,000
first
the
of
proceeds
The remainder of the
especially bonds of the International'Traction Co., to be due July 1
plated, will be used for important acquisitions and improvements,
00
for purposes designated in the "first and refunding mortgage."
benefit of at 1949, forming part of an issue limited to $18,335,0
The result of aforesaid expenditures should be a financial
& R. G. RR. Co., (instead of $30,000,000, as proposed under the recent plan),
least $1,000,000 per annum to the property of the Denver
1st M. bonds
bonds;
at the same time protecting the interest on Western Pacific
ing. with cash for all accrued interest on the deposited
pending the time when Western Pacific shall become fully self-sustain
697, 416. (2) the deposit as collateral for the new bonds of the collateral
The cffect will be far-reaching and of the greatest value.—V.94, p.
now pledged for the collateral trust 4s, including the entire
stock of the International Railway Co., except that, in place
of $4,343,978 unsecured certificates of indebtedness of the
operating companies, there will be deposited at least an
equal amount of the new 5% bonds of the Railway Company below mentioned. (3) The establishment of a sinking
fund to provide for paying off at maturity, on or before
July 1949, either (a) all of the $12,651,500 underlying bonds
of the operating companies, or (b) any of the new bonds of the
Railway Company issued to refund the same. (4) The creation by the International Railway Co. of an authorized isa
15, sue of $60,000,000 of 5% 50-year mortgage bonds having
Payment must be made in 4 equal installments of 25% each on April
direct lien on the property, and providing for the future capiAug. 1 and Oct. 15 1912 and Feb. 11913. Compare V. 94, p. 826, 630.
Georgia Railway & Power Co.—Officers and Directors.— tal requirements of this rapidly growing property.
Evansville & Southern Indiana Traction Co.—Bonds
Called.—Ten ($10,000) Evansville & Princeton Traction Co.
1st M. 5s dated April 1 1903, for payment at 105 and interest
on April 1 at the Citizens' Savings & Trust Co., Cleveland,
trustee.—V. 85, p. 339.
Federal Light & Traction Co., N. Y.—See page 910.
Georgia & Florida Ry.—Subscription Rights.—The right
of stockholders to subscribe at 52 for the $2,000,000 general
M. income 6% bonds, which have been underwritten (over
subscribed) by a syndicate headed by Middendorf, Williams & Co., expires on April 15.
President, Preston S. Arkwright; Vice-Pres. and Gen. Mgr., G. W. Brine; Purposes for Which the $60,000,000 New 50-Year 4% Mortgage Bonds of the
International Railway May Be Issued.
Vice-Pros, and See., W. H. Glenn; Treas., I. S. Mitchell Jr.; Chairman
(a) To refund said underlying bonds of the operating companies [the sinkboard of directors, H. M. Atkinson.
Directors.—Preston S. Arkwright, Elliot G. Stevenson, H. M. Atkinson, ing fund providing, as estimated, sufficient funds to take up the new bonds
Randal Morgan,J.J.Spalding, Forrest Adair, G. C. Moore, C. Elmer Smith, issued for such refunding purposes prior to the maturity of the new colThomas Eggleston, Frank Hawkins, Thomas K. Glenn, John E. Murphy, lateral trust bonds of the International Traction Co.], outstanding car
the
R. F. Maddox and Alex. C. King.—V. 94, 9• 123.
trust certificates of the Railway Company, and obligations incurred in
purchase of equipment and in improvements and betterments to the propGrand Trunk Pacific Ry.—Option to Purchase.—See Pa- erty
of the operating companies since Jan. 1 1911.
(b) To provide for the exchange of the said $4,343,977 83 of certificates
cific Great Eastern Ry. below.—V. 94, p. 207.
Indebtedness of the operating companies for such new 5% mortgage
Havana Electric Railway, Light & Power Co.—Consoli- of
bonds of the Railway Company to be pledged, as hereinbefore mentioned,
security for the new collateral trust laonds of the Traction Company; and
dated Co.—The company was incorporated in New Jersey as(c)
),
To provide (subject to the action of the Public Service Commission
additions, extensions and additional properties for
on March 26 with authorized stock of $15,000,000 common under restrictions, for
exceed
to
not
an
par
to
at
amount
Railway
Company,
the
purpose of
and $15,000,000 6% cum. preferred as a consolidation of the the
the actual cost price thereof.
Havana Electric Ry. and Compania de Gas y Electricidad
Position of New Collateral Trust 4s.
The International Railway Co. will thus be placed in a position itself to
de la Habana, per plan V. 94, p. 767.
financing of necessary extensions and betterments to its
the
for
provide
Illinois Traction CO.—Earnings.—
properties, without being required to exhaust its net earnings for such purNet (after
Gross
Interest on Pref. Div. Balance,
leaving its income available for dividends on its stock, which,
thus
Calendar
poses,
Surplus.
Earnings.
Taxes).
Bonds, &c. (6%).
Year.
when received by the Traction Company, will enable that company to make
$6,902,221 $2,768,580 $1,885,221 $318,276 $565,083 its interest payments on its new collateral trust bonds.
1911
688,254
273,286
2,498,227
6,218,038
1,536,687
The deed of trust securing the new collateral trust bonds will contain
1910
provisions prohibiting the Traction Company from permitting the Railway
Payment of Receivers' Certificates.—The reorganization Company
to create or to issue any mortgage bonds on its property,
or to issue any further bonds
committee gives notice that the $3,500,000 receivers' cer- other than its said new 5% mortgageonbonds,
its property or on the property of
any existing mortgages
by
after
secured
and
on
be
paid
on
ion
will
1
presentat
April
tificates due
or any part thereof, or to borrow money
operating
companies,
other
the
that date at the National City Bank, N. Y.—V.94,p.630,487. except in the usual course of business for Its current corporate purposes.—
sold at fore- V. 93, p. 1786.
Illinois Tunnel Co.—Sale.—The property was
closure sale on March 26 for $5,000,000 to Wm. Tod and
L. C. Krauthoff, constituting the purchasing committee,for
the reorganization committee.
Kansas City Mexico & Orient Ry.—Reorganization Matters.
All construction has been stopped as a result of the receivership. An"
article on the prospects of the enterprise was in the "Railway Age_Gazette
of New York for March 15.1!;
912
THE CHRONICLE
[VOL. I.XXNXIV.
The bondholders' deposit agreement authorizes the committee
to proceed
with reorganization under any plan to which 30%
In interest of the depositors does not dissent within 30 days after first publicatio
n of notice of
plan in N. Y. and London, all depositors in that case being
bound thereby.
If within two years following such 30 days no plan has become
effective
by the assent of over 70% In interest of the
, any depositor may
withdraw his bonds during the next 90 daysdepositors
on paying his pro rata share
of the expenses of the committee, not exceeding 1 M%
on each bond.
—V. 94, p. 767, 693.
Pacific Great Eastern Ry.—Incorporated--Grand
Pacific By. to have Option ftrst—This company hasTrunk
incorporated in British Columbia to build from been
couver, B. C., to North Vancouver, thence along VanHowe
Sound and northeasterly to Lillooet on the Fraser River
and
along that river north to a junction with the Grand Trunk
Lancaster Oxford & Southern RR.—Sale.—The road was Pacific at or near Fort George, 450 miles.
sold at foreclosure sale on March 21 for $50,000 to John A.
An agreement has been entered into with the Grand Trunk
Pacific giving
that company first option to purchase majority of
Coyle and John M. Groff, attorneys, representing, it is be- all
capital stock and routing
nassenger, freight, express and
traffic over Grand Trunk Pacific.
lieved, a committee of bondholders.—V. 94, p. 416.
The new company, it is understoomall
d, is authorized to issue not exceeding
$25,000,000 of capital stock In $100 shares,
of which not over $10,000,000
Lincoln (Neb.) Traction Oo.—Favorable Decision.—The to
be preferred. Incorporators: Timothy Foley
of St. Paul, Minn.; John
Nebraska Supreme Court on Jan. 3 affirmed the decision of W. Stewart and Donald McLeod of Vancouver
. B. 04 Patrick Welch of
Wash.; D'Arcy Tate of Winnipeg, and Vernon
the lower Court in the quo warranto proceedings by the State Spokane,
W. Smith of
Hazeiton, B. C.
A bill which passed its third reading In the British
on the relation of Frank M. Tyrrell, County Attorney for
Columbia Assembly
Feb.
on
24
1912
ratifies
an
agreement
Feb.
of
16
1912
Lancaster Co., in so far as it refused to order the cancella- and the firm of Foley, Welch & Stewart
between King George
regarding the Pacific Great Eastern
tion of a p rt of the stock.
and also the aforesaid agreement dated Jan. 23 1912
with the Grand Trunk
Pacific By. and Grand Trunk Pacific Branch Lines Co.,
The Court holds that the Constitutional provisions in regard to
giving those comissues of panies for 60 days the first right to acquire
stock by railroad companies does not apply to street railways
controlling interest in the
and that the capital stook upon the same terms as may be a
proof of over-capitalization in the consolidation with the Citizens'
offered by any intending responsible
Ry.
purchaser,
on
and
also
establishin
g close
Feb. 1 1909 (to a fraudulent extent, at least) is not sufficient.
relations between the
As to the roads. The firm makes a deposit of $250,000traffic
other issues involved, particularly the right to own stock in a lighting
as a guaranty that it will
cor- construct and equip the 450 miles of road by July
poration and transact business other than a street railway, the
1 1915, and the Province
British
of
judgment
Columbia
is
agrees
to
guarantee, as to principal and interest, the
reversed and the case is remanded to the lower Court. Compare
V. 90. 4% bonds, debentures or debenture stock of the Pacific Great
p. 1363.—V. 91, p. 94.
Eastern By.
due in not less than 30 years
issuable at $35,000 per mile on the entire
Louisville 85 Nashville RR.—Bonds Called.—In our ad- 450 miles, under a trust deed and
which will cover road and equipment, but not
or subsidies. The company will be tax-exemp
vertising columns will be found the numbers of 527 ($527,000) terminals
t till July 1
1926 and will receive as a free grant from vacant
Crown lands a right of way
general mortgage bonds which have been drawn for redemp- not over 100 ft. wide, space
for sidings, &o., timber, gravel and other ma
terials, and for townsites 1,280 acres at each divisional point
tion on June 1 at 110 and interest at the office of the com- at
and 640 acre'
each other townsite, such of these as are not needed for railway
purposes
pany in New York City.—V. 94, p. 631.
to be administered jointly, 2-3 to the company and 1-3 to the
Government.
Pennsylvania RE.—Fines.—Judge Killits in the U. S.
Maine Central EL—Payments of Bonds and Notes.—
Treasurer York gives notice that the securities maturing District Court at Cleveland on March 23 imposed fines aggregating $123,000 on the 4 railroads and 4 dock companies
April 1 will be paid as follows:
against which indictments were found on April 26 1911
Consolidated M. bonds ($8,984,000) at First Nat. Bank, Boston,
Mass.;
2-year 434% coupon notes (65,000.000) at Second Nat. Bank,
Boston, (V. 92, p. 1243) for conspiracy and rebating in connection
Mass., or Chase Nat. Bank, New York City; 1-year 4% notes ($1,500,00
0)
at Hanover Nat. Bank, N. Y. City. Funds for the purpose were secured with the ore docks, and quashed the indictments against
largely through the recent $12,000,000 1-year note issue. Compare
V. 94, Dan R. Hanna and other individual defendants.
p. 560.—V. 94, p. 698, 560.
It was found that the allowances to shippers
(dependent upon profits and
Manhattan Bridge (N. Y.) Three-Cent Fare Line RR,— determined at the
end of the year's operations) were universal,
and that
the violation was merely technical, due to the fact
Franchise Granted.—The Board of Estimate and Apportion- filed
that the tariff was not
with the Inter-State Conimerce Commission. The
present practice Is
ment on March 28 granted a franchise to the company over agreeable
to the latter.
The fines imposed were: Pennsylvania and Bessemer &
the proposed route from Flatbush Ave. (Brooklyn) station $20,000
Lake Erie, each
for rebating and $10,000 for conspiracy to rebate;
Lake Shore &
to Manhattan.—V. 93, p. 1767.
Michigan Southern, $15,000 for rebating and $5,000
for
conspiracy
; N. Y.
Chic. & St. L., $3,000 for rebating; Ohio & Western
Milwaukee Electric Ry. & Light Co.—Favorable Decision. Co.,
Pennsylvania Dock
$10,000 for conspiracy; Union Dock Co. and
& Conneaut
—Judge W. J. Turner on March 12, in the suit of the company Dock Co.,$7,000 each for conspiracy, and AshtabulaPittsburgh
Dock Co. $6,000 for
against the city, held invalid the ordinance passed early in conspiracy. V. 94, p. 690, 704.
Pittsburgh Cincinnati Chicago & St. Louis Ry.—Listed.—
1911 taxing each car operated by the company $15.
The New York Stock Exchange has listed $1,498,000
The company paid $8.805 under protest, May 17 last, on 587 cars. The
additional common stock, making the total listed $37,382,400.
Court states that in 1905 the system of taxation of street railway systems
was changed to an ad valorem basis, this being a general law,and
forestalling any attempt at licenses by a city and clearly excludingthus
other
Imposts for revenue. Compare U. S. Supreme Court decision all
holding
earlier ordinance illegal, V 93, p. 1600.—V. 94, p. 827.
Missouri Kansas & Texas Ry.—New President.—C. E.
Schaff, Vice-President in charge of operations for the New
York Central Lines west of Buffalo, has resigned to accept
the presidency of the company, and will succeed A. A. Allen
next month.—V. 94, p. 487.
Appeal in Suit.—The company has arranged to appeal to
the U. S. Supreme Court from the decision of the U. S. Court
of Claims on Dec. 4 1911 sustaining the demurrer of the
Government to the company's petition in the claim to recover
its land grant in the Indian Territory (now the State of
Oklahoma),amounting to 3,110,400 acres, subject to Indian
title. Compare V. 93, p. 1600.—V. 94, p. 487, 416.
Monongahela Traction Co.—Underwriting.--The Fidelity
Trust Co. of Baltimore will head a syndicate formed to underwrite $2,500,000 gen. M. 5% bonds to be sold to retire $1,000,000 Fairmont & Clarksburg Traction Co. notes and to
construct branch lines to Weston, W. Va. and other
lines.
The system embraces about 90 miles of '
track, which it is
proposed to increase to 130 miles. Compare V. 94, p. 827.
New York New Haven & Hartford RR.—New Director.—
Treasurer A. S. May has been elected a director to succeed
temporarily the late George Jarvis Brush.—V.94, p. 768,351,
New York Philadelphia & Norfolk RR.—Application
to
Issue Additional Stock.—The Public Service Commission
of
Maryland on March 27 heard the application of the company
for authority to issue $1,250,000 additional stock to pay for
expenses already incurred and additional equipment. Compare V. 90, p. 1102.
Oakland Traction 0o.—Consolidation.—See San FranciscoOakland Terminal Railways below.—V. 93, p. 872.
Ocean Shore RR., California.—Decision.—Judge Seawell
in the Superior Court at San Francisco on March 16 dismissed the order to show cause,obtained by nine stockholders,
why the order to sell delinquent stock of the old railway company, on which the assessment of $10 a share, which was
levied by the reorganization committee, was not paid.
It was held that an injunction is not the proper remedy and
that any question as to the legality of the assessment should be left for
later determination. The bondholders' committee stated that more than
of the stockholders had paid the assessment, and that practically all 50%
were expected to
do so before the sale took place on March 18.
Fred'k W. Bradley, as the owner of 164 bonds of tho old railway
having a face value of nearly $150,000, on March 5 brought company,
suit in the
Superior Court against P. D. Martin, a stockholde
r holding 3,075 shares.
to recover $0,613 37, which he alleges is Martin's pro rata of
liability
on
hls:Icialm of $3 12 for each share of stock.—V. 93, p. 1789.
Omaha & Council Bluffs Street Ry.—Bonds Out.—Of the
issue of first consols of 1902, due Jan. 1 1928 ($10,000,000
authorized), $7,234,000, we learn, had been certified up to
Feb. 23 1912, but of this amount $965,000 was held in tile
treasury, leaving only $6,269,000 outstanding.—V.94, p.351.
The stock is to be issued to the Pennsylvania
Company at par for a like
amount of Cincinnati Lebanon & Northern By.
stook, the entire $1,500,000
of which is now owned.—V.92, p. 1243.
Pittsburgh Summerville & Clarion RR.—Sale.—The road
will be sold under judgments by the Sheriff of Jefferson
County on March 30.
The sale will be subject to the $500,000 1st
5s, due Oct. 1 1944
(Union Trust Co. of Pittsburgh, trustee) and to40-year
a lease to the Pennsylvania
Southern RR. The line extends from Summervil
le to Clarion, 16 miles,
with 2 branches aggregating 5 miles.
Quebec Oriental Ry.—Prior Lien Bonds.—The holders
of
the 1st and 2d M. Matapedia section gold bonds will
vote in
London April 16 on substantially the following resolutio
ns:
That whereas it Is necessary that certain repairs and
renewals shall be
carried out on the Matapedla Section, the company be
not over $250,000 prior lien bonds or other securities, authorized to create
bearing
not over 6%
interest, ranking In priority to the first and second
mortgage Matapedia
section gold bonds and secured on the Matapedia section.
[The shareholders also will vote April 16 on
declaring the forfeiture of
certain shares In the common stock and on approving
the Atlantic Quebec & Western By. Co. for constructi an agreement with
ng and operating joint
shops at New Carlisle, the granting of running
powers, etc. Pres., E. B.
Read, Temple Chambers, Temple Ave., London.]
—V, 93, p. 229.
Rapid Transit in N. Y. City.—Bill Passed.—The State
Assembly on March 28 passed the Wagner bill, previous
ly
passed by the Senate and approved by the city authorities,
which amends the Rapid Transit Law so as to enable the
Public Service Commission and the Board of Estimate to
enter into contracts directly with the Interborough and
Brooklyn Rapid Transit companies without public letting
under the proposed "dual" plan of subway construction.
This is done to simplify the situation so as to permit of progress
in the
solution of the questions involved, outside of the legal points
pending suits as to the legality of "preferential" payments raised in the
contained In
the offers of the two companies.—V. 94, p. 632, 209.
Rock Island Co.—Removal of Office.—The office of the
company and of the Chicago Rock Island & Pacific Ry. will
be removed from 115 Broadway to the new Bankers Trust
Co. Building. about April 20, occupying the greater part
of
the 23d floor.—V. 93, p. 1184.
St. Louis & San Francisco RR.—New Director.—
James N. Wallace, President of tile Central Trust Co.
of N. Y., has been
elected a director to fill a vacancy.—V. 94, p. 488, 280.
St. Louis Southwestern Ry.—Inter-State Commerce Commission Holds that Inter-State Must Be Accorded Same Rates
as Intra-State Traffic Moving Under Similar Conditions.—
See editorial article on previous pages.—V. 94, p. 632, 560.
San Francisco Oakland 84 San Jose Consolidated Ry.—
Consolidation.—See San Francisco-Oakland Terminal Railways below.—V. 93, p. 872, 590.
San Francisco-Oakland Terminal Railways.—Consol
tion.—Announeement is made by the Smith-Tevis-Hanfidaord
Co. of New York of the incorporation of the San FranciscoOakland Terminal Railways in California on March 211912.
Into this company has been consolidated and absorbed all of
the property of the Oakland Traction Co., San Francisco
Oakland & San Jose Consolidated Ry., Pacific Terminal Co.,
East Shore & Suburban Ry.(V. 94, p. 123), California Ry.,
MAR. 30 1912
THE CHRONICLE
-
913
% beene
(1) 5
t dCaa_pitaltzatiin, Aggregating $47,018,000.
Pres
$11,148,000
First mortgage
-,050,000;coin. stock,$19,820,000] 35,870,000
stock,$16
pref,
corn.
[7%
Stock
.500,000
$42
(AllStocX)
al
(2)Proposed Capitalization of Successor Corp'n—Tot
at
Prof. 7% stock, pref. p. & d. cumulative fro m Jail. 1 1913
1917
1
Jan.
m
fro
and
at,
915
1
5% per annum;from Jan. 1
at 7%, but to be entitled to 7% from beginning if earned by
is $28,175,000, in $1000
new company and declared by its directors (If practicable,
The capital stock of the consolidated company
I.
It
common.
and
preferred
second
will have power to elect a majority of the directors and is to be_816,500,000
shares, divided into first preferred,
mortgage" for an amount suffiat 110 and any accrued cumulative dividends). 26.000,000
redeemable
the intention to make a "first and refunding
of all existing
maturity
before
or
at
retirement
the
Common stock
cient to provide for
and also for additions and improvebonds (see page 37 of "El. Ry." See.) The
voting
company
A
of the new preferred and common stock, except directors'
trust
new
the
of
President
ments during a long term of years.
qualifying shares, will be cleated for 5 years, with 5 voting trustees, who
will be F. M. Smith.
be
by the reorganization committee.
ter
are
appointed
Pref. and $15,125,000 Common.
The new company shall not create any mortgage lien upon Its property
Distribution of New Stock—$13,050,000
Preferred. Common.
pref. stock remains outstanding, unless the holders
of
as
any
its
so
long
0
$10,875,00
7,050,000
of such stock shall give their consent thereto,
Oakland Traction Co
2,750,000' of at least 80% In amount at
00
B-------5,000,0
y
Consol.
J.
S.
meeting specially called therefor, nor with&
San Francisco Oakland
1,000,000 either in writing or by vote ofaholdings
1,000,000
of a like amount of voting trust
East Shore & Suburban Fly
500,000 out the consent in writing
stock.
for
such
.
certificates
_
RR
California
to cover reorganization expenses
which
In order to provide $5,192,000 with
se.—A certifiand common
San Jose (Cal.) Terminal Ry.—New Enterpri
and to supply additional working capital, the existing pref.
r
20-yea
5%
00
of
$1,000,0
tion
y; 10% of these assessauthoriza
respectivel
10%,
of
and
20%
be
filed
assessed
will
stocks
cate has been
and the balstock,
fot
ments will be payable on deposit of the certificates
notice by the
bonds of $1,000 each.
ance (90%) will be payable on or after Oct. 1 1912 on 30 days'by
$2,500,000
with
James N.
California
ed
In
formed
incorporat
been
recently
has
syndicate
A
reorganization committee.
The company was
subscribed) to build and operate railroad Wallace and Alexander J. Hemphill, as syndicate managers, to underwrite
capital stock ($1,512,525 reported
Alviso and between the port and San Fran- said assessments.
Port
and
Jose
San
between
lines
Center, II. J. Gardner, John A. Mehling, J. J.
).
cisco. Directors: Hugh
(3) Terms of Exchange (819ck Only on Payment of Assessment
--And will receive in Exchange
Mahoney and H. H. McCloskey.
Stock.
Cent.
New
Stock.
d.
Pref.
Nosn
e vn't. Cash New
ses
Outstanding Pays.l
Toledo Railways & Light Co.—Meeting Again Postpone
$1,000-411,148,000 $350-$3,901,800
ers' $1,000 bond _S11,148.000
None
—The joint meeting of the bondholders' and stockhold
278,700
Jan. 12 coup.
$20-3,210,000 $90-14,445,000
,000 20%-53,210,000 _
protective committee for the consideration of reorganization Ea.$100 pf.stk.16,050
35-6,937,000
$10-1,982,000
Ea.S100com.stk 19820000 10%-$1,982,000
716,200
160,000
plans was postponed from March 27 to April 3, when it will Surplus
828.
p.
10,
V.
94,
See
April
to
d
adjourne
further
be
$26,000,000
816,500,000
$5,192,000
issues
authorized
Total
W.
United Properties of California.—See San FranciscoReorganization Committee.—James N. Wallace, Chairman; Charles
R. Walter Leigh, John H. MoClement, W.EmOakland Terminal Railways above; also San' Francisco & Cox, Alexander J. Hemphill.
Jr., with Guthrie, Bangs & Van Sinderen,
Vogel
Fred.
below,
and
als"
Roosevelt
Co.
"Industri
under
Power
len
Oakland Terminal
as Secretary, 54 Wall St.
as Counsel and Franklin L. Babcockfor
stock and bonds deposited are
and compare V. 94, p. 353, 125.
[Holders of certificates of deposit
30 days they will be bound by the
within
dissent
they
unless
that
notified
stockholders' committee also
United Rye. CO. Of St. Louis.—Bonds Extended.—The aforesaid
pref.
the
plan. A majority of
company has arranged with Fanshaw & Co. of New York to urges acceptance of the plan.]
, March 23 1912.
Digest of Statement by Pres. D. W.Call, Milwaukee profitable results
extend the $1,813,000 Cass Avenue & Fair Grounds Ry. 5%
If the plan is promptly made effective, I believe thatimprove; and that
conditions
bonds maturing July 1 next for a period of 10 years, the inter- will
business
general
be assured as soon as
past 4 4 years. ended
even with as small a business as the average of the
est rate to be reduced to 4%%.—V.94, p. 418, 413.
over all charges, inDec. 31 1911, operations can be conducted at a profittion
without mortReorganiza
&c.
e,
Vandalia RR.—Earnings.—For calendar years:
cluding depreciation. maintenanc
the company's credit, enablingadvance
greatly
Ba).,
will
charges
fixed
Dirtor
lien
gage
Interest,
Other
(after
Operating Net
on large conCal.
required
be
y
temporaril
should
Surp.
capital
working
increased
dends.
if
it,
Inc. Rents, Olc.
Taxes).
Year— Revenues.
$3,161 tracts, to borrow on the most favorable terms.
1911 ......$9,970,327 $1,838,364 887,633 $1,521,152 (2 U)$401,684
84,567
dec.).
730,320
(5)
Good-will,
Patents,
incl.
1,508,323
(not
31
1911
85,739
Dec.
Financial Condition
1910-- __10,528,374 2,068,337
Current Liabilities ($2,838,802).
Current Assets at Reduced Values
—V.94, p. 353.
payaand
Notes
accounts
).
($9,236.768
$2,560,102
Virginian Ry.—Option to Equipment Note Holders.—Hold- Notes & acc'ts receivable_$3,544,816 ble, doe
Series A, Inventories
4,760,905 Coupon dueJan.1 1912 on
ers of the $2,625,000 5% first lien equipment
278,700
g
outstandin
1st
M.bonds
931,047
11908, are Cash
notes,
$6,397,968
and 5% second lien equipment notes, dated Nov.
Leaving "net current assets"
the
at
stock
pref.
well locum.
and
n
5%
for
constructio
of
modern
s
exchange
plant
of
given the option
Plants.—(1) The West Allis
Steam, gas, blowing and pumpcated; its principal lines of manufacture are:large
rate of $1,050 pref. stock for each $1,000 note.
(comapparatus
electrical
turbines,
hydraulic
and
steam
be presented at the office of ing engines,
switchboards, condensers, large and small air comNotes, with all unmatured coupons, must 1.
Coupons for Interest then plete prime movers),
May
plant, owned by the Bullock ElecCincinnati
The
(2)
brakes.
the BaliWay Co., 55 Wall St. N. paidon
air
at the Equitable Trust Co., 37 Wall pressors, Co., in which we own the entire common stock except directors'
due on the first lien notes will be
Co. Com- tric Mfg.
also large and modern; it specializes
and on the second lien notes at the office of the Railway
qualifying shares, being the control, is
The Chicago plant, while not new, is
par() V. 94, p. 828, 418.
St..
in smaller electrical apparatus. (3) mining,
timber preserving, sugar and
of
well adapted to the manufacture
Wabash RR.—Certificates Listed.—The New York Stock cement
works, lomachinery, and perforated metals. (4) The Reliance
valuable real estate;
Exchange has listed $4,000,000 Central Trust Co. (Wallace cated in the downtown district In Milwaukee, comprises
(5) The
ed.
manufactur
are
mill, saw mill and crushing machinery
committee) stamped and unstamped certificates of deposit flour
plants at Scranton. Pa., and the Gates works at Chicago have been closed,
with
bonds,
r
4%
50-yea
s
extension
and
refunding
first
.
as
practicable
for
and should be sold as soon
Years to Dec. 31 1911.
authority to add $28,102,000 additional on notice of issuance
Annual Average Profit for 4
El. Mfg.Co.$1,224,180
$32,1
d
authorize
total
the
Avge. profits after provision for pref. divs. of Bullockl
making
bonds,
ing
outstand
for
352,468
Deduct—Aver, depreciation on buildings, plants, tools, &c__ _
(See
Sacramento Short Line and San Jose Short Line.
United Properties Realty Co., V. 94, p. 127). The company
is controlled by the United Properties Co. of California. See
V. 94, p. 125, 353; also below.
102,000.
Avg . net, without allowance for int. and extraor. adjustments $871,712
Notice to Bondholders.—The Wallace bondholders' comIn the adjustment of inventory and accounts receivable to present valremittee, by advertisement on another page, requests bond- ues, as recommended by Price, Waterhouse & Co., a large shrinkage but
that was exceptional in character and not likely to be repeated,
holders to promptly deposit their bonds with coupons ma- sulted
t.
in
managemen
economies
Recent
profits.
s
the
above
reduced
nevertheles
turing on and after Jan. 1 1912 annexed with the depositary, sales and patent expenses, it is expected, will effect savings of between
invoicing dur$400,000 and $500,000 per annum. The average monthly
the Central Trust Co. of N. Y.—V. 94, p. 700, 632.
could be
the 41,6 years referred to was $1,221,253. An increase of 50%profits.
double net
Wages.—Demand of Eastern Enginemen Denied.—See ing
handled with present capacity, and ought readily toduring
past three
the
orders
the
conditions,
adverse
recent
120.
p.
92,
under
.
this
issue.—V
Even
editorial columns of
months have aggregated $2,485,387.—V. 94, p. 828, 700.
Washington (D. C.) Railway & Electric 0o.—
Aluminum Co. of America.—Settlement with Government.—
Retirement of Bonds.—The company offers holders of the
r reports state:
Newspape
$250,000 Brightwood Ry. 6% bonds, maturing Oct. 1 next,
between the Department of
An agreement has been tentatively reached
against certain of its
the right to exchange the same until May 1 1912 for an equal
Justice and the company, providing for an injunction
not be required) in comwill
relations (a dissolution, it is said,
amount in Wash. Ry. & Elec. consol. 4% bonds due Dec. 1 contractual
Law.
ust
Anti-Tr
Sherman
the
with
pliance
1951 and 15% in cash ($150 per bond),
has been drawn up, has been agreed to by the Attordirectly with the company or
Exchanges may be made by communicating
a number of local depositaries.—
with the Central Trust Co., N. Y., or
v. 04. P. 418. 218.
Western Pacific Ry.—Proposed Provision for Interest and
Improvements.—See Denver & Rio Grande RR. above.—
V. 93, p. 732.
West Shoro RR.—Merger Bill Fails to Pass.—The New
of soy Assembly on Mch. 26 by a vote of 21 to 21 (or 10 short
of sufficient) failed to pass one of the so-called Simpson bills
to permit the merger of subsidiary lines of the West Shore
RR. into the New York Central system.
There were two bills, one to permit the West Shore's subsidiaries to be
merged into that road within the State, and the other to permit a corporation outside of the State to take control of part of a road within New Jersey.
—V. 02, la• 957.
The proposed decree
although
ney-General and is understood to be satisfactory to the company, then file
the latter has not finally approved it. The Attorney-General willas
agreed
decree
the
and
,
a friendly suit in the Federal Court at Pittsburgh
upon will be entered, after which the basis for the agreement will be made
1439.
D.
.
89.
publio.—V
American Agricultural Chemical Co.—Increase of Stock.—
The stockholders on March 28 authorized the increase in the
authorized stock from $52,000,000 to $100,000,000, consisting of $50,000,000 each of Common and pref. stock. Compare V. 94, p. 632, 209.
American Coal Products Co., New York.—On Regular 7%
Basis.--A quarterly dividend of 19% has been declared on
the $10,418,400 common stock, payable April 1 to holders of
record March 25.
nt of 1 4% (or 63,6% per annum,
This compares with a regular disburseme
1912 with 3-6 of 1% extra to place
the rate in effect from Jan. 1911) in Jan.
quar. (6% yearly) in 1910
Youngstown & Ohio River (Electric) RR.—Dividend Again the stock on a 7% basis for 1911 and of 1
H% yearly) from organization to Oct. 1909 inclusive.
Increased.—A quarterly dividend of 1%% has been declared and 1 %%V. 93,
125.
p.
94,
p. 1791.—V.
on the $1,000,000 5% pref. stock, payable Mch. 30, com- Compare
American Gas & Electric CO.—Suit on Stock Option.—
i% quarterly from
paring with 1% in Jan. and Oct. last and y
& Co. on March 25 brought an action in
Oct. 1910 to July 1911,incl.(See"An.Repts.")—V.93, p.873. Henry L. Doherty
the Supreme Court in this city to enforce their right to subscribe for $1,000,000 common stock at par. The hearing on
the application to make permanent the temporary restraining order against thd issuance of additional stock by the
INDUSTRIAL, GAS AND MISCELLANEOUS.
company has been adjourned one week, to April 4.
which the
ation
of
lan
Reorganiz
New
York.—P
The plaintiffs claim that under the original agreement under The exact
Co.,
Allis-Chalmers
company was formed,they had a 5-year option on such a right.
by
e,
contend
committe
he
ation
1912.—T
reorganiz
plaintiffs
18
the
but
Dated March
time of expiration of the option is under dispute,
covers
tried to exercise their right within the period. As the option
advertisement on another page, presents substantially the that they
common
to
given
rights
the
stock,
common
all of the $1,000,000 unissued
$500,000 of
following plan under which holders of stock and bonds are stockholder
s by the directors on Feb. 28 last to subscribe for
the
p. 700) will be made invalid if the plaintiffs succeed in
notified to deposit their holdings with the Central Trust Co. the stock (V.94,828.
700.
suit.—V. 91, p.
prior to May 11912:
111111111111.
914
THE CHRONICLE
American Ice Co.-Investigation Discontinued.-AttorneyGeneral Carmody last week dismissed the complaint that the
company was doing business within the State under its own
name (instead of Knickerbocker Ice Co., its successor), in
• violation of the Court order obtaiped in May 1911 (V. 92,
p. 1245, 1312). The report says:
From the exhaustive investigation conducted by detectives and from all
of the evidence submitted, the conclusion is that the American Ice Co. has
not been transacting business in the State since May 1911.-V. 94, p. 122.
Vox,. Lxxxxiv.
Philip Lehman, Chairman; Harry Bronner, Edward II. Clark, P. N. B..
Close and Alvin Untermyer, with Samuel Untermyer as counsel and
Harry
Hoffman as Secretary, 37 Wall St.
Any plan of reorganization to which 25% in interest of the
depositors
shall not dissent within 30 days from publication of notice thereof
San Fr. and London will be binding on all depositors. If within in N. Y.,
years.
following such 30 days, 25% of the deposited bonds still dissent,two
the following 90 days any depositor may withdraw his bonds on then for
payment
of his pro rata share of the expenses of the committee, not exceeding
134%
on the deposited bonds; and thereafter the plan may be deemed
effective
as to any bonds not withdrawn. [Company has between 600 and 700
wells
with a daily output capacity of about 7,000 barrels.-Ed.j
Sec V. 93, p.
531, 733; V. 94, p. 489, 769.
American Rolling Mill, Middletown,0.-Notes.-The comCentral Portland Cement Co., Kansas City, Mo.-Consolipany has sold to Becker & Co., Chicago, $1,300,000 of an
issue of $1,500,000 5% notes, due in four semi-annual in- dation.-The company, it is reported, has
or will be,
incorporated in West Virginia with $45,000,000
stallments of $375,000 each in 1914 and 1915.
been, authorized
The proceeds, it is stated, will be used to pay floating debt incurred for stock as a consolidation, it is stated, of 14 cement companies,
new construction, &o. The remaining $200,000 notes remain in the trees- 10 being located in Kansas,
2 in Oklahoma, one in Missouri
ury.-V. 93, p. 107.
and one in Texas.
American Telephone & Telegraph Co.-New Directors, etc.
The new company, which,it is stated,will have an output of over
Charles F. Adams 2d, G. P. Gardner and Richard Olney have been elected
directors to succeed Thomas Sanders, deceased, and Thomas B. Bailey and
Frank E. Warren, who resigned. A. R. Marsters has been made Secretary
to succeed Charles E. Hubbard.
President Vail sad at the annual.meeting on Tuesday: "The company does not contemplate any financing at present; also that there has
been considerable improvement in fundamental conditions, but I do not
look for any great betterment in the tone of business for some time to come."
-V. 94, p. 848. 824.
15,000,000 barrels annually, has "standardized" prices at $1 per barrel at the
mill,
an increase of 30 cents over prices recently prevailing. The companies
embraced in the merger as reported are as follows: United
Kansas
Portland Cement Co. (V. 90, p. 1366), Oklahoma Portland Cement
Co.,
Iola Portland Cement Co. (V. 84, p. 224), Texas Portland
Co.,
Monarch Portland Cement Co., Southwestern States Portland Cement
Cement
Co.,
Kansas City Portland Cement Co., United States Portland Cement Co.,
Great Western Portland Cement Co., Altoona Portland Cement Co.,
Western States Portland Cement Co.(V.83, p. 163), Ash Grove
Portland Cement
Co., ewey Portland Cement Co., Fredonia Portland Cement
Co.
The officers arc: President, L. S. Mitchell (who has been Pres. and
Treas.
of the Iola Portland Cement Co., St. Louis, Mo.); Vice-Pres., Adam
L.
Beck, and Secretary, A. Steinmetz, both of Kansas City, Mo.
Anglo-American Oil Co.-Interim Dividend.-An interim
dividend of 2 shillings per share (par
free of British income tax, has been declared, payable April 15 on the £1,Central & South American Telegraph M.-Partly Esti000,000 stock of this former Standard Oil Co. of N. J. submated Earnings.-For quarters ending March 31:
sidiary.
Mos.- Total inc.
Net Inc. Divs. (1 yi%). Bal., Sur.
Total Surp.
Payment will be made on and after that date by the National Provincial 3
1912 _
__$478,500
$326,468
$143,565
$182,903
$2,790,822
Bank of England, Ltd., London, or any of its branches, or the Guaranty 1911
_
_ 421,000
255,750
143,565
112,185
2,345,659
Trust Co. of N. Y., at the equivalent in U. S. currency of $4 86 2-3 per -V.
94,
P.
563.
share, to holders of share warrants to bearer in exchange for coupons
numbered 1, attached to share warrants.
Central Vermont Transportation Co.-Guaranteed Bonds.Of the £1,000,000 share, £983,383 was owned by the Standard 011 Co.
of N. J. and recently distributed by it to its shareholders under the segre- See Central Vermont Ry.under "Railroads."-V.88, p.1256.
gation plan (V. 93, p. 1390). Compare V. 85, p. 216, 790.-V. 85, p. 223.
Chattanooga & Tennessee River Power Co.,
Arizona Copper Co.,
Year end. Tot Net Deb.Int., Res.Cap. Preferred Ord. Div. Bal.,,Sur.
Sept. 30- Profits. Inc.Tax.,,,tc.011'yotc. Divs.
or Def.
(50%)
1910-11 __ _£285,488 £23,148 £45,000 £24,531 £189,987 sur.£2,822
1909-10 ___ 254,471
26,824
20,000
24,531
189,987 def. 6,871
Total net profits as above Include in 1910-£212,660 profit from copper,
against £168,648 in 1909-10, and £72,828 revenue from holdings in other
companies, against £85,823.-V. 79, p. 629.
Atlanta (Ga.) Steel Co.-Bonds.-The Mercantile Trust &
Deposit Co. of Baltimore recently offered at par and int. the
unsold portion ($200,000) of the issue of $500,000 6% serial
gold bonds. A circular shows:
Chattanooga,
Tenn.-Status.-The company's plant, we are informed,
will be ready for operation about the first of next year(V.90,
p. 1365, 1427).
The Tennessee Supreme Court on March 22 awarded Contractor W.
J.
Oliver of Knoxville a judgment against Anthony N. Brady
of New York
for $560,000 (being $435,000 with interest) for damages
sustained by an
order to vacate work prior to the expiration of the contract
on the
lock and dam construction at Hill's bar, In the Tennessee time,
River below
Chattanooga. Mr. Brady, who had a contract to build the lock
and dam,
claimed that the work had not progressed sufficiently to enable
Mr. Oliver
to complete it in the time specified In his contract.-V.90, p. 1427, 1365.
Commonwealth Steel Co.-Stock.-A certificate has been
Outstanding, $495,000 ($5,000 retired May 1911), due (a) at par, $10,000 filed in N. J. increasing the capital stock from $1,500,000 toMay 1912 and $15,000 May 1913; (5) at 102% yearly in May, $15,000, 1914 $2,000,000.-V. 84, p. 273.
to 1920 and $20,000 1921 to 1929; (c) at par, $185,000 May 1930. Cover
Converse Rubber Shoe Co., Malden, Mass.-Pref.rStock.
entire property, 53 acres of land, buildings, equipment, &o. Stock issued
(held by prominent Atlanta men), pref., $180,900, and common, $750,000, -Hooper,
Kimball & Williams, Boston, offered on March 26
all paid for in cash at par; surplus earnings of over $400,000 have also been
put into the property, while the proceeds of $200,000 2-year notes, recently at 101 and accrued div. $150,000 7% cumulative pref. stock
sold, and $100,000 out of assets, are to be expended in improvements, thus (p. & d.),
dividends J. & D.
making the cash equity behind the bonds, $1,630,000.
Proposed improvements are expected to effect a saving of about $70,000
Capitalization: Pref. stock $525,000, common $75,000, all fully paid In
per annum, and also increase the output.
cash. No bonds. No mortgage without consent of majority of pref.
Average annual net earnings for past five years, four times the interest shares. No dividends on common to reduce tangible assets below
125%
on the bonds. Gross earnings cal. year 1911, $1,430,264; net, applicable of the pref. Net earnings 1911 over 534 times pref. dividend requirements.
to bond int. ($29,700), *133,703. Products: wires, wire nails, wire fencing
Pres., M. M. Converse. Henry Hornblower Is a director.
staples, cotton ties, hoops, bars, track spikes, rounds and squares, &c., Sic
Des Moines (Ia.) Water Co.-Decision.-See "Des Moines"
Bon Air Coal & Iron Co., Nashville.-Plan.-The bondholders' committee is urging acceptance of plan of Sept. 1911. in "State and City" Department.-V.94, p. 633.
Detroit (Mich.) Edison Co.-Listed.-The N. Y. Stock ExThe "Nashville Banner" says: "It is stated that for 7 months of 1910
the net earnings under the receiver were $62,226 and for 1911 were $47,589, change has authorized $1,500,000 additional stock to be
listed
though 1911 was a hard year for the iron industry." See V.93, p. 1466.
as issued in exchange for outstanding convertible bonds,
Bond & Mortgage Guarantee Co.-Dividend Increased.- making the total amount to be listed $9,000,000.
A quarterly dividend of 3
(or at the rate of 14% annuEarnings.-For year ending Feb. 29 1912:
ally) has been declared on the $1,000,000 stock, payable
Year endingGross.
Interest. Dividends. Bal.,Sur,
Net.
May 15 to holders of record May 8, comparing ai follows: Feb. 29 1912
$3,728,324 $1,597,435 $694,719 (7)$418,477 $484,239
Dec. 31 1911
Dividend Record 1898 to Date (Per Cent).
1898. 1899. 1900. 1901 to 1905.
1906 to 1911
1912.
6
7%
8
10 yearly
12 yearly
Feb., 3; May, 3%
-V. 92, p. 883.
3,598,094
Dec. 31 1910
3,030,207
-V.94, p. 418, 282.
1,536,904
1,310,083
683,729 (7)414,330
601,701 (5)250,000
438,845
458,382
Eastman Kodak Co., Rochester, N. Y.-Earnings.
Bremerton (Wash.) Water & Power Co.-Proposed Pur- Calendar
Net
Pref. Div .
Corn. Divs.
Balance,
YearProfits.
(40%).
(6%).
Surplus.
chase by City.--See 'Bremerton" in "State and City" de- 1911
$11,649,263
$369,942
$7,804,905
$3,474,416
1910
partment.
8,975,177
369,942
7,800,390
798,845
-V.93, p. 1728.
British-American Tobacco Co., Ltd.-Increase of Stock.(B.
F.)
Goodrich
-Plan
Akron,
0.
Co.,
Approved.-The
The stockholders will vote on April 9 on the proposition made
by the larger shareholders to authorize a special allotment of stockholders on Marsh 27 ratified the plan (V. 94, p. 829)
for
re-in
corporating
company
and
the
increasing the au449,728 common shares, par value £1 each, at the price of
30 shillings, to certain directors of the co. named in the call. thorized stock to $45,000,000.-V. 94, p. 829, 211.
Great Falls (Mont.) Power Co.-Bonds Offered.-The
The object of the distribution is to obtain the active personal interest of
the new directors who have been chosen to take the place of the former Guaranty Trust Co. of New York is
offering at 963, to yield
representatives of the American Tobacco Co.-V. 94, p. 828, 489.
about
Butler Bros., Randolph Bridge, Chicago.-Notes Sold.- 1st M.5.25%, the unsold portion of its block of $5,000,000
The First Trust & Savings Bank of Chicago has purchased May s. fd. 5% gold bonds, dated May 1, 1911, and due
1940, subject to call, all or any,at 1073 on any interest
and re-sold $7,750,000 5% notes, dated April 1, maturing in date.1,Auth.
$15,000,000; issued $5,000,000 (held in sinking
approximately equal semi-annual installments,from 6 months fund $52,000).
Par $1,000 c*. Bankers Tr. Co., trustee.
to 10 years from date.
Owns water rights
Missouri
The company has purchased a block on Canal St. between Randolph and
Lake streets. A new building Is to be erected.-V.90, p. 1046.
Canadian Westinghouse Co., Ltd.-Earnings.
Calendar
Net
Deprec'n Invent. Ins.Fd. Balance,
YearEarnings.
Dividends.
Reserve. Adj.Res. Res ye. Surplus.
1911
$1,010,154 (8%)$350,128 4100,000 $50,000 $50,000 $460,026
1910
697,393 (7%) 306,362 100,000 30,000
261,031
From the surplus as above in 1911, $135,794 was written off property
and plant, against $70,522 in 1910, leaving $324,232 in 1911, against
$190,509.-V. 94, p. 700.
Central Fuel Oil Co. (of Delaware).-Bondholders' Deposit
Agreement.-The company having failed to meet the sinking
fund requirements of its 1st M. of July 15 1910 (Bankers Tr.
Co., trustee), under which $5,333,300 convertible 6% bonds
are outstanding, and receivers having been appointed, the
committee named below is requesting the deposit of these
bonds with coupon of July 15 1912 attached, with the
Bankers Trust Co., 7 Wall St., as depositary under agreementIdated March 25 1912:
on the
River capable of developing over
130,000 h.p., of which about 46,000 h.p. Is In ojperation. Outstanding
capital stock, $10,000,000; an initial dividend of 1 34% was paid Nov. 1
1911 and the management expects to pay 3% during 1911.
Results for Calendar Year 1911.
Gross earnings
$122,500
$822,592 Bond interest
Net, after taxes
$685,-0i4 Charged off
$10,807
Balance, net divisible income
$531,707
The gross earnings, in Jan. 1911, $55,325, were for Feb. 1912 $84,723;
net, after taxes. Feb. 1912, $71,685. Estimate for year 1912, net $807,000.
Pres., John D. Ryan. Sec also V. 93, p. 472.
Hilton-Dodge Lumber Co., Savannah, Ga.-Bonds.-Lee,
Higginson & Co., N. Y., Bost. & Chic., are offering at par
and int. the unsold part of $6,000,000 (closed) 1st M. 6%
s. fd. gold bonds, dated Jan. 2 1912 and due in semi-annual
installments(2 of $250,000, 2 of $300,000, 2 of $325,000, 10 of
$375,000 and one $500,000, respectively) July 1 1914 to
July 1 1922, incl. Trustee, First Tr. & Say. Bk., &c., Chic.
A Georgia corporation. One of the oldest and largest lumber manufacturers lathe U.S. Stock outstanding. $5.500,000; pref. stock, $1,878,000.
These bonds (the only issue) finances the purchase of properties of West-
MAR. 30 1912.]
THE CHRONICLE
makes the net quick
moreland Lumber Corp. and other companies, and over
3,400,000,000 ft.
assets $950,000. The mortgage, it is stated, coverschiefly yellow pine and
of good standing timber on 550,000 acres of land,
railroads, &c.,
sawmills,
9;
$15,592,08
Timber,
Appraisal:
fine cypress.
1912 is 140,000,000 ft.,
$1,250,000; total, $16,842,089. Expected output
($360,000) and
which should produce net earnings of 11,000,000 for interest
-sinking fund ($385,000). Pres., R. H. Knox.
sure Sale.Hudson County (N. J.) Water Co.-Foreclothe mortgage
The property will be sold under foreclosure of dated
Dec. 15
to the Mechanics' Trust Co. of Bayonne, N. J., 30, by order
April
1910, at the Court House, Jersey City, on -V.
93, p. 411.
of the U. S. District Court for New Jersey.
gs.-For
-Earnin
Co.
Power
4%
Light
Idaho-Oregon
1911.
year
and
1911
December
Year 1911.
Dec. 1911.
All DivisionsGross earnings
Net earnings (after oper'g expenses)
$39,364
28,935
915
together with the
Wireless Telegraph Co. in bankruptcy. These assets,
desires to pass
valuable patents of Sir Oliver Lodge, the parent company
program of dethe
in
us
join
over to this company and at the same time
close to New York
velopment. This program embraces (a) the erectionwith
another station
City of a powerful station to communicate directly
high power station
to be erected near London. (b) The erection of another
through pernear N. Y. City with the intention of communicating South, Brazil, &43.
haps Cuba on to Panama, thence to Peru. Chile,the Argentine,
$10,000,000,
to
For this purpose it is intended to increase the capital
available for
In $5 shares, of which some $7,000,000 will be subscribed and
be revenue
will
which
stations
working capital and will be expended on
each) for
earning. Shareholders will receive five new shares (par $5 at par pro
subscribe
may
and
$25),
(par
stock
of
present
every one share
rata to the new stock as issued.
dividendThe new conditions should enable the company to enter into a
to
earning stage from the very moment the arrangements above referred
have been completed.
$361,945
275,077
t follows:
Consolidation.-An authoritative statemen
in New York for
the
organized
Sometime ago a strong syndicate was
ing all of the hydro-electric and
purpose of purchasing and consolidat
Idaho, including the Idaho-Oregon
traction properties in Southwestern
has expended over $3,000,000
Light & Power Co. To date this syndicate
power properties and traction lines in
and now controls the principal water
ly in excess of the
is
considerab
power
for
demand
The
that section.
the development of additional power.
supply and work is being pushed forlines,
the Boise & Interurban and the
The company owns two interurban
will be factors in the consumption of
Boise Valley Electric lines, which
Mainland of the Idaho-Oregon Light & Power
power. William and Sinclaircompany,
William Mainland being President.
new
the
in
officers
are
Co.
of power at a minimum cost and
The consolidation assures the production
94. p. 701.
a steady market for the output.-V.
Suit.-See Nat. El. Signaling Co. below.-V.93, p. 43.
Metal Shingle 86 Siding Co., Ltd., Canada.-Pref. Stock.Turner, Tucker & Co., Boston, N. Y.and Buffalo, are placing
at par, $100 a share, $200,000 7% cum. pref. stock (pref.
p. & d.); divs. Q.-M., "absolutely guaranteed for five years
by the U. S. Metal Products Co.' (V. 92, p. 467).
$748,Net earnings year end. Nov. 30 1911, $69,050. Gross sales 1911,
book value,
272; 1909, $632,593. Plants in Montreal and Preston, Canada;
payable).
acc'ts
1208,797; net quick assets (after deducting $142,734
1343,767; surplus for pref. stock, 1352,564.
Mexican Telegraph Co.-Partly Estimated Earnings.-For
quarters ending March 31:
(2;4%). Bal.,Sur.
International Typesetting Machine Co., New York.on
Mortgage.-This company, incorporated in New York
shares
$100
in
stock
auth.
00
$4,000,0
with
1911,
22
Nov.
($3,000,000 common stock and $1,000,000 7% cum. pref.,
an issue
p. & d.), filed a mtge. on Mch. 18 1912 to secure
yearly
$50,000
callable
gold
bonds,
6%
25-yr.
00
$1,000,0
of
$1,000.
and
$500
$200,
$100,
par
11917;
Jan.
after
a bonus of 50% each in pref. and com-
The bonds are offered at par with
subscriptions are now being
mon stock; 3500,000 has been subscribed, and
re (a) duplicates of supcollected. The company proposes to manufactu
Mergenthaler Company
plies and machines now made exclusively by the
are about to:(b) also the
or
expired
already
either
have
which
under patents
machine for the
composing
Amaigatype machine and (c) the Monollne
applications for patents on the
United States. Takes over patents and
Germany,
Britain,
Great
Canada,
S.,
U.
Amaigatype machine for the
will own 93% of the shares of the
France, Austria and Belgium. Also(V.
80, p. 1734) and patents covering
Va.
West
of
Co.
Composing
Monoline
machine and the linotype.
improvements on the Monoline the New York Dock Co. of property near
A lease has been obtained from
on which a factory building is to
Brooklyn,
streets,
Montague
Furman and
about a year. Herman Ridden editor of the
be erected. to be ready in
the enterprise.
"Staats-Zeitung," N. Y., controls and is promoting
Kayser & Co.-Earnings.-For cal. year 1911:
Julius
amount applicable to operations
• Net profits, $1,017,479: less estimated 30
1911, based on sales, $427,793;
of old company for 4 months ending April
to Dee. 31, 1589,686; appropriations
net profits of new company from May 1 for special reserve account, 133,333;
1101,815,
stock,
pref.
of
for redemption
$454,538; first pref. dividend (3 %%),
total, 1135,148; balance for dividends,124,325;
accrued pref. cilvs. 2 months
$105,000; second pref. div.(3%),
$172,433; undivided profits
dividends,
total
at 7% per annum, 143,108;
Dec. 31 1911, $282,105.-V. 94, p. 633.
rKosmos Portland Cement Co., Kosmosdale, Ky.-Reo
Samuel
ganization-Sale of Block of Preferred Stock.-Pres. the
$2,Horner Jr. of Philadelphia, who, it is stated, owns to Louisto sell
000,000 stock (all of one class) has arranged
d
ville parties $350,000 of the stock, which will be converte
into a 7% preferred stock.
Net.
Mex.Govt. Div.
Gross.
3
189,735
$12,000
$217,849
1912------ ------$235,000
89,735
11,500
192,392
207,500
1911
Total surplus March 31 1912, 13,051,490.-V. 93, p. 875.
$116,114
91,157
Midland Counties Gas & Electric Co., San Francisco.Bonds Offered.-The William R. Staats Co., Los Angeles,
San Fr. and Pasa dena, is offering at par and int. $290,000
1st M. 6% sinking fund gold bonds, dated Jan. 1 1912 and
due Jan. 1 1932, but redeemable on or after Jan. 1 1915 at
105 and int. Interest J. & J. at Los Angeles Trust & Savings
Bank, trustee; par $1,000. "Population now served and to
be served when the transmission line is complete is estimated at 10,000 and is constantly increasing.'
California St., San Fr.
Data from Letter of President W. F. Boardman,519has
purchased all the
Incorporated in California [early in 19121 and
Co. and the Santa
&
Electric
properties and business of the San Luis Gas
Maria Electric & Gas Co. We intend to connect the plants by a transcare
mission line, the Santa Maria electric property to be enlarged to takeMarla
Santa
of all of the business for light and power in San Luis Obispo,and
sells gas
and Guadeloupe and contiguous territory; also manufactures
in San Luis Obispo. Estimated replacement value of property, $450,000.
$700,000.
Irrespective of intangible assets or franchises, including these over
Authorized. Issued.
Capitalization$350,000
11,000,000
Capital stock
325,000
1,000.000
1st M. 6s (this issue), absolute first mortgage
of
delivery
the
with
usly
All old indebtedness will be paid off simultaneo
Of this 1325,000
the new bonds and any underlying mortgages canceled.
shortly
be
will
35,000
.7)
remaining
the
issued;
be
bonds,$290,000 will now
The remaining 1675,Issued for 73% of cost of extensions and additions. and additions to the
000 also can be issued only for permanent extensions
the net earnings for
provided
extent, at par, of 75% of the cost thereof, charge, incl. the bonds then
twelve months are twice the annual interestnt fund, 2% per annum, beimproveme
and
proposed to issue. Sinking
nts, half to be
ginning March 1 1915, half for additions and improveme
invested by the trustee in the bonds.
March 31 1913.
ending
Year
for
Earnings for Cal. Year 1911 and Estimate
1911. 1912-13.
1911. 1912-13.
,400 $19,500
Gross earnings_ __ _$88,953 1105,000 Int. on'new bonds_$17
137,885 $47,000 Balance, surplus, $20,485 $27,500
Net earnings
Pearson,
The Vice-Pres., R. H. Ballard, and the General Manager, B. F.California
are respectively Secretary and Superintendent of Southern
Edison Co.
Missouri & Kansas Telephone Co.-Earnings.
about 400,000 bbls. of Portland
The capacity of the plant at present isfrom the sale of stock an addition
Balance,
Interest
Net
Gross
Calendar
Surplus.
cement yearly. With the funds derived
Charges.
Income.
Earnings.
and capacity increased to 800,000 bbls.
Yearwill be built, new machinery installed
$437,809
one
1437,809
sons,
two
his
13,523,033
and
Homer
Mr.
by
1906
In
d
1911
1144,611
The Industry was establishe
536,631
681,242
3,122,368
charge of the plant, died shortly 1910
of whom, Robert C. Horner, who assumed
after the plant was built.
-V. 92, p. 1108.
after a disastrous fire about two years of
raw
where
Louisville,
below
land
The company controls 1,300 acres
Mobile (Ala.) Gas Co.-Offering.-H. T. Holtz & Co.,
expected to become effective
materials are plentiful. The reorganization is
Mr. Horner as President. Chicago, are placing at par and int. $400,000 6% 10-year
In'yay. A Louisville man is expected to succeed
e gold bonds.
La Belle Iron Works, Steubenville, 0.-No Negotiations.- debentur
int. date at 101
Dated Dec. 11911. Due Dec. 1 1921. Optional on anyChicago,
27 wrote:
trustee.
Pres. Isaac M. Scott on March
J. & D. at Central Trust Co. of Illinois,
Interest
int.
1400,000. First M
25th inst. would say that there is no move- and
Replying to your letter of the
e this company with the
ment on foot at the present time to consolidat
-V.94, p. 770.
Phillips Sheet & Tin Plate Co. or any other company.
Lackawanna Mills, Scranton, Pa.-Stock.-The stock has
to $500,000,full-paid; par $100.
been increased from $300,000
underwear. Chas. R. Connell, Pres. and Trees •
Manufacturers of knit
Treas.
Jas. S. McAnuity, Sec. and Asst.
Louisville Property Co.-Sale of Lands.-The stockholders
d by Louisville & Nashof this company, which is controllethe
action of the directors
ville interests, on March 19 ratified
lands in Eastern
in disposing of valuable coal and timber00.
$1,800,0
Kentucky several months ago for
purchased the land, is quoted: "The
Thomas Cairns of Pineville, who principally of the company's former
coal and timber pronerty consists
,and Knox, Ky., amounting to
holdings In the counties of Bell, Whitley
coals, as a whole, in the Southeastern
46,000 acres, and containing the best
going coal operations already
large
12
are
Kentucky coal field. There
groups of from 3,000 to 5,000 acres."
under lease. My intention Is to sell in
-v. 86. 13 • 423.
Par $1,000 c*. Total auth., 1600,000; present issue,
29 1912,
5% gold bonds, due Dec. 1 1924, auth., $3,000,000; issued to Feb.
$643,000.
March 12 1912.
Data Furnished by Pres. Rufus C. Dawes, Chicago,
and additions above
Over $400,000 has been invested in improvements
This issue of debentures will fund
the proceeds of the mortgage bonds.
Under the debenture
this indebtedness and provide for growing demands.
in the property, and no further
agreement the proceeds must be investedalready
have been authorized can
bonds beyond the mortgage bonds which of the debentures are outstanding.
be placed upon the property so long as any of 600,000 cu.ft. per day; waterThe coal-gas installation has a capacity
or over 400,000,000 Cu.
gas Installation capacity, 700,000 cu. ft. per day, 0 Cu. ft. per annum.
ft. per annum. Present output about 151,430,00cu. ft., and 75
miles
Owns three gas holders, combined capacity 688,000 , such as gas heaters,
of mains, serving 5,843 meters and 12,036 appliances
water heaters, stoves and arc lamps.
1911. Est. 1912.
1910.
1909.
1908.
138,372 175.000
Gas sold (1,000 Cu. ft.) _ _ _ _ 97,854 110,795 124,733 167,439
187,500
141,579 152,265 /64,401
Net earnings
taxes).
Earnings for Year ended Feb. 29 1912: Gross, 1160,586; net (after
142,740.
surplus,
balance,
$30,945;
bonds,
173,685; interest on mortgage
See also V. 90, p. 631.
National Boat & Engine Co.,Chicago.-Reorganization.Manufacturers' Light & Heat Co., Pittsburgh.-Dividend
ee in a circular letter say in brief:
Increased.-A dividend of 1% has been declared on the The reorgan. committ
S. Court at Augusta, Me., Aug. 28
A receiver was appointed by the U.
$21,500,000 common stock, payable April 15 to holders of 1911.
1911 the following shareholders and bondholders consen2
Nov.
On
20
last,
on
1%
Dec.
of
3
4
: J. M. Smith, Chairman, Shell
with
tion
committee
ng
30,
reorganiza
compari
March
a
record
to act as
Joseph, Mich.; George H. Lill, Chicago;
s of 1% ted
Lake, Wis.; J. M. Truscott, St.
the first distribution since Oct. 1906. Payment
Shelton, Conn.* with Henry S.
N.
Griffing,
Bruce
Y.;
N.
Findlay,
Paul
'Secretary, and
Madison Square, N. Y., as
quarterly (6% yearly) were made from 1903 to 1906, in- Beardsley, Pullman Bldg.,
N. Y., depositary.
Co.,
490.
Trust
p.
Lincoln
94,
Atlantic Ave.,
clusive.-V.
516
Woodman,
I.
y
[Walter
bankruptc
in
The trustee
properto the receiver, offered the three most important Joseph,
Marconi Wireless Telegraph Co. of America.-Report.- Boston], successor
at Muskegon, Mich.* Truscott plant at St.
plant
Racine
viz.:
ties,
sale on Feb. 15 1912.
for
Wis.,
'
Lake,
at
Shell
plant
Lake
See "Annual Reports."
Shell
Mich., and
14 1912, and the
on of United The
committee's bid was confirmed by the Court March
Increase of Stock-Settlement with and Acquisiti
be vested In the Racine-Truscott-Shell Lake Boat
in a circular dated title to these plantsinwill
1st M.6%
1350,000
stock,
$1,000,000
with
Wireless Co.-Secretary J. Bottomleymeeting
Wisconsin
Co. to be organized
for April 18 serial
6% bonds.
convertible bonds and $370,000 gen. mtge. convertiblethe
March 26 announcing a stockholders'
old bonds
of
the
holders
bonds
M.
1st
new
the
to
on
subscripti
000,
says:
By a
to vote on increasing the stock to $10,000,
of exchanging these bonds, $ for 1, for the new general
Com. Guglielmo Marconi and Godfrey C.
Our colleagues from London, New York to assist in making necessary
Isaacs, were requested to visit
to assume a preponderant position.
company
the
enable
to
nts
arrangeme
position we commenced an action, under
• In order to solidify the patent
company, against the United Wireless Telegraph
the direction of the parenthas
ended in that company[by proper stipulation
Co.(V.94, p. 931). This admitting infringement of our patents and our
In Court this week-Ed.]
obtaining judgment against them.
of London, has purchased,
Marconi's Wireless Telegraph Co., all
of the tangible assets of United
Ltd.'
subject to the sanction of the Court,
obtain the privilege
of the existing pref. stock can ex6s; and on same condition the holders
in the new company. The old common
change their stock, 1 for 1,.for stock
stock does not participate office, Shell Lake, Wis.) will operate the three
The new company (head
Paul Findand
plants. Directors and officers: J. M. Smith, Pres.
George S. LoveTreas..'
H. Lill and
lay, Vice-Pres.; J. M. Truscott, Sec.;. George283.
p.
94,
p.
1113).-V
92,
V.
(Compare
lace.
For other Investment News see pages 921-922.
916
THE CHRONICLE
fevorts anti
[VOL. Lxxxxiv.
parnments.
PUBLIC SERVICE CORPORATION OF NEW JERSEY
THIRD:ANNUAL:REPORT—FOR YEAR ENDING DECEMBER
31 1911.
To the Shareholders:
MAINTENANCE OF PROPERTY.
The earnings and expenses of Public Service Corporation
The properties of the companies owned by the Corporation
of New Jersey, Public Service Gas Company, Public Service have been maintain
ed throughout the year at a high standard
Railway Company, Public Service Electric Company and of efficiency.
subsidiary companies for the year ending December 31st
IMPROVEMENTS COMPLETED.
1911 were as follows:
The most important of the improvements completed during
Gross:earnings:of leased and controlled companies
$30,125,508 43 the year is the new power station
at Perth Amboy, a
Operating expenses and taxes
$15,941,601 53
graph of which appears as a frontispiece of this report.photoAmortization charges
This
672,653 81
is
a
modern,
thorough
ly
up-to-dat
e power station, of only
16,614,345 34
moderate sized units, however, desigend to care for the
$13,511,163 09 rapidly increasing electric and railway load in the Central
Publioyervice Corporation of New Jersey income from se- • • • •
Division. There has also been constructed a large new car
•
cur ties- pledged and from miscellaneous sources
1,890,512 55 house, known as the "Hilton Car House,"
located on Spring$15,401,675 84 field Avenue, in the Township of South Orange, in the Essex
Bond interest and rentals of leased and controlled companies 11,066,651
30 Division. A similar type of car house is in course of construction at Big Tree, in the Town of Nutley, in the Essex
$4,335,024 34
Division. Twenty revenue passenger cars have been built
Fixed charges of Public Service Corporation of New Jersey__
2,540,242 65
at the Plank Road Shops of the Railway Company, together
Surplus
$1.794,781 69 with a considerable amount
of other additional railway
Out of these earnings dividends at the rate of 6% per equipment. The pay-as-you-enter or
ent equipannum, aggregating $1,500,000, were paid during the year ment of the cars of the Railway Companypre-paym
has been continued,
upon the capital stock of the Corporation, which amounts so that there are now a total of 904 cars of this
character in
to $25,000,000 at par.
operation. A storage car house at the Passaic Wharf to
During the year the Corporation sold o Messrs. J. P. house out-of-season equipment has been
Morgan & Company and Drexel & company $13,860,000, building, together with other car houses completed. This
theretofore conface value, of -Public Service Corporation of New Jersey structed now snake it possible to have
under cover all out-ofGeneral Mortgage 5% Sinking Fund Fifty-Year Gold season passenger equipment.
Bonds, making a total of $30,000,000, face value, of these
The tracks of the Valley
line were extended in Park
bonds, out of the authorized issue of $50,000,000, which Street, East Orange, from Road
Dodd Street to a point where
have been sold.
East Orange, Orange and
come together—a dis• Part of the proceeds of this sale were used to retire $4,- tance of a little more than Montclair
a mile, thus physically con000,000, face value, of the Five Per Cent Three-Year Col- necting the Crosstown Linehalf
in
the
Oranges with the Valley
lateral Gold Notes of the Corporation, due October 1st 1913. Road Line in Montclair, and through
between Orange
These notes were retired, however, on October 1st 1911 in and Montclair was inaugurated on travel
this line on Decemconformity with the provisions in the trust agreement secur- ber 18th 1911.
ing the notes which permitted them to be called for payThe work of constructing tracks on the Paterson & State
ment. A poi
portion of the balance of the proceeds of the sale Line Traction Company, from the city line Paterson
as far
of these bonds, has been used during the year to purchase the as North Paterson—a distance of 2.973 of
miles, was comcapital stocks of Public Service Gas Company and Public pleted and cars of the Lakeview Line were operated
through
Service Electric Company, as the same were from time to Paterson to Florence Avenue, North Paterson
, on Augtime issued. The proceeds of the sale of the stock of Public ust 21st 1911. It is expected to ultimately continue
this line
Service Gas Company were used .by it for plant extensions to Ridgewood, a right of way having been
already largely
and betterments, additional mains, meters, services, etc., acquired.
and the proceeds of the sale of stock of Public Service ElecTwo hundred and three single-end pay-as-you-enter cars
tric Company were used for new generating stations and sub- were equipped with gates at the rear
platform and 121
stations, extensions to and additional apparatus for existing double-end cars of tilt) pre-payment type
equipped with
stations and sub-stations, additional transmission and dis- full closed vestibules, with doors operatedwere
by the conductor.
tribution lines, meters, services, etc. A further portion of
By the Electric Company a large amount of new underthe balance of the proceeds of the sale of the bonds were used ground work has been completed. This Company
is definfor track extensions and betterments, new bridges, additional itely committed to a continuance of this policy, and
is ex,feeders, additional equipment, real estate, car-houses, etc., pending approximately $500,000 a year towards the furtherfor Public Service Railway Company. The remaining por- ance of this object. The most notable feature in connection
tion of the proceeds arising frosn the sale of bonds will be with the development of the electric business during the year
used to meet construction and extension requirements of the is the vast increase in the power business obtained
. The
three operating companies for the year 1912. • • •:•:•:•'.
public are beginning to realize that the wholesale power rates
During the year the Corporation acquired $105,200 at par of the Electric Company are more profitable
the consumer
of the $112,000 par value of total outstanding capital stock than the practice of operating single plants,tosteam
or elecof the Shore Lighting Company, which Company controlled tric, including all proper charges in connection therewith
.
tile electric-lighting business in Red Bank, Monmouth
A new transmission line has been constructed from Trenton
County and vicinity, and the gas business at South Amboy, to Princeton, thus enabling the Company to shut down the
in Middlesex County; and guaranteed as to principal and old, decrepit station at Rocky Hill, and for the first time
interest the issue of $400,000, face value, of the 5% bonds furnish satisfactory service to the people of that locality. to
of the Shore Lighting Company. The gas properties of the
By the construction of further transmission lines it has
Princeton Light, Heat & Power Company (acquired in 1910) been possible to shut down either entirely or for a portion of
and of the Shore Lighting Company were leased to Public the time a number of the other less important generating
Service Gas Company on May 1st 1911. The properties of stations of the Company.
the Burlington Electric Light & Power Company (acquired in
TAXES.
1910) and the electric properties of the Princeton Light, Heat
The taxes paid during the year amount to $1,659,741,50,
& Power Company (acquired in 1910), and of the Shore
Lighting Company, were leased to Public service Electric an increase over the year 1910 of $237,042 68. In addition
Company on the same day. The properties of the New to this, the Corporation contributed large sums to municipaliJersey.& Hudson River Railway & Ferry Company (acquired ties in the form of new pavements, street paving repairs and
in 1910) were leased to Public Service Railway Company on street paving assessments.
May 1st 1911.
INSURANCE.
The Corporation also obtained during 1911 franchises for
The fire insurance carried at the present
is $24,329,the distribution of gas in Madison and Morris Plains. This 816, and the annual premium therefor is time
$119,421 38, an
resulted in the construction of a trunk line from Morristown average rate of 49c. per hundred dollars.
to Newark, the shutting down of the plant of the Morristown
'
WAGES.
Gas Light Company, and the distribution of gas generated
The wage scale put into effect for motormen and conducat Newark throughout this entire community. Similarly,
tors
as
increased January 1st 1911 has been adhered to, inSouth Amboy was connected up with New Brunswick, the
South Amboy plant shut down and gas generated at Camden cluding the promised increase effective January 1st 1912.,
The
maximum
of the wage scale,promised for mOtormen and
was sent, via the already existing pipe lines to New Brunswick, to South Amboy. In this latter locality the mains conductors has now been reached, and is as follows: •
of the Company have also been extended to Old Bridge, First year employment
23c. per hour
year employment
240. per hour
Spottswood and Helmetta in Middlesex County. Other gas Second
Third year employment and thereafter
25c, per hour
extensions made during the year include the Borough of
INSURANCE, SICK BENEFIT AND PENSION FUND.
Haworth in the Bergen Division; Little Falls and Totowa iii
The annual report for 1010 contained a description, in
the Passaic Division and Florham:Paxkin:Morris County.r
considerable detail, of the insurance, sick benefit andlpension
MAR. 30 1912.]
17
THE CHRONICLE
September 27th, delivered before the Commission an exhaustive historical sketch of the gas, electric and railway
business now carried on by the subsidiaries of Public Service,
not only in the Passaic Division, but throughout the State of
New Jersey, Including a full disclosure of the figures of the
Corporation, gross and net, its operating expenses and its
estimate of increases and earnings for the next five years.
At the same time he offered, on behalf of the Corporation,
to acquiesce in an order which, he suggested, should be made
by the Commission, fixing the price of gas at the uniform base
rate of $1 00 per thousand cubic feet throughout the entire
territory served by Public Service Gas Company for the
$18,37589
Insurance
years 1912 and 1913; at the uniform base rate of 95c. per
22,95587
Sick Benefits
the
85 thousand cubic feet for the years 1914 and 1915 and
5,495
Pensions
year 1916.
the
for
90c.
uniform
base
of
rate
66
1,961
Expenses
In respect to the electric rates, the President offered to
$48.788 87 agree to an order providing for a uniform base rate of 10c.
Total
per k. w. h. throughout the territory served by Public SerThe Welfare Committee in charge of this work has pre- vice Electric Company for the years 1912, 1913 and 1914,
sented a very elaborate report, full of most instructive detail, and that on January 1st 1915 this base rate should be further
which tends to increase our confidence in the success of the reduced from 10c. to 9c., and that as of January 1st 1912
plan in the future. It is a feeling of genuine satisfaction to the same schedule of discounts from the base rate should be
the management of the Corporation to know that in this put into effect as was recently put out by the Edison Comenlightened day it is doing its full duty in alleviating the pany, which furnishes Manhattan Island with similar service.
suffering and providing in a measure for the old age of its
The theory of this offer made by the President, with the
employees, and that it is also snaking its presence felt at approval of the Board of Directors, was that if put into effect
the inevitable time of death.
it would settle the rate question in New Jersey for five years;
The Legislature of the State of New Jersey for the year that it would enable each of the two operating companies,
1911 passed the so-called Workmen's Compensation or Em- gas and electric, to meet its respective fixed charges and pay
ployers' Liability Act. Fearing, lest it might be unconstitu- an 8% dividend on its respective capital stock, and that these
tional, to make the Act compulsory, the Legislature provided dividends, together with the earnings from the Railway
a means of acceptance or rejection of the law by employer Company, flowing into the possession of the Corporation, the
and employee alike. The Corporation, in contradistinction owner of the underlying stocks, would enable the Corporato many other large companies, immediately accepted the tion, during the same period, to pay dividends ranging from
provisions of the Act,as did also an overwhelming percentage 6% to 8%.
of its employees. We regard this Act as a further illustration
The Commission received the proposition with courtesy.
of the enlightened policy of the day that should affect all The municipalities of Paterson and Passaic, which had in the
corporations toward their employees, and as complementing first instances made the complaints as to charges, showed no
the welfare plan already voluntarily put into effect by the disposition to accept the offer, and the Commission naturally
Corporation. We think this Act has further tended to ce- felt under the circumstances that it was its duty to make a
ment the relations between the Corporation and its em- complete investigation of the value of the property of the
ployees.
Gas Company, located within the Passaic Division, and
devoted to the public use, together with a study of the prinPUBLIC UTILITY COMMISSION.
bound to consider in fixing the rates.
The Legislature of 1911 also passed an entirely new Public ciples which it was now
proceeding, and is being conducted,
is
investigation
This
the
and
provisions,
radical
very
Utilities Law, containing
is concerned, with great thoroughCompany
Gas
the
as
far
so
last.
1st
May
since
it
Commission has been operating under
It is the confident belief of the
detail.
to
attention
and
ness
that
and
drawn,
We are of the opinion that the Act is crudely
will a proper consideration of all
only
not
that
management
of
some
powers,
it contains entirely too broad and sweeping
involved confirm the fairness of the proposition
which are probably unconstitutional. So far as we are con- the problems
but will justify the continuance of existing
President,
the
of
Commission
the
cerned, however, no cases have come before
has done its best to meet this
Corporation
The
rates.
ComThe
Act.
the
involving these particular provisions of
spirit, and as a reasonable
equitable
and
a
in
fair
question
work
its
about
going
is
and
mission finds itself full of labor,
has not been practithe
matter
of
adjustment
amicable
and
accephave
We
manner.
painstaking
in a most serious and
the Corporation will protect its rights
henceforth
from
cable,
its
enactment,
of
spirit
the
in
Act
the
of
ted the provisions
the limit.
and have done our best to co-operate with the Commission in to The
existing conditions throughout the country, the politithe many matters affecting the Corporation which have come
cal uncertainty which surrounds the future, and the natural
before it.
anxiety of the investing public in reference to the outcome
RATE INVESTIGATION.
of the attack upon the rates charged by the Corporation, have
value of the
During the summer of 1911 an agitation arose, largely all combined to slightly depress the marketthe
properties
political in character we think, for the lowering of the gas Corporation's securities, but the fact is that in such sound
before
and electric rates in the Passaic Division, which has spread controlled by the Corporation were neverincreases—gros
s and
to one or more of the other divisions served by the. Cor- physical and financial condition the
prosperous
poration. Upon complaint by the cities of Paterson and net—were never more stable, and a reasonably constituPassaic, the Commission inaugurated on its own initiative future for the Corporation is protected behind a
destroy.
an investigation as to the propriety of the rates being tional bulwark which no amount of radicalism can
I call attention to the balance sheets and statement of
charged for gas throughout the Passaic Division of the Corporation. A request was made by the Commission that the earnings and expenses of the Corporation and its subsidiary
President of the Corporation should furnish the Commission companies, which have been verified by the Stone & Webster
with all the information in his possession relating to the his- Management Association, and to the usual statistical infortory of the property and characteristics of the gas and electric mation and other statements herewith submitted.
THOMAS N. McCARTER,
business as carried on by the subsidiaries of the Corporation
President.
in this Division. In response to this, the President, on
fund, commonly known as the Welfare Fund, put into effect
by the Corporation on January 1st 1911. It is a pleasure to
state that the operation of this fund has worked to advantage, even beyond our greatest expectations. By means of
it the Corporation has performed a generous and humane
work for its employees, the result of which has been the
creation of a better feeling between the Corporation and its
employees. It was estimated that the operation of the fund
would cost the Corporation $50,000 per year. The actual
expenditures for the first year were $48,788 87, distributed
as follows:
SUBSIDIARY COMPANIES—
STATEMENT OF EARNINGS AND EXPENSES OF PUBLIC SERVICE CORPORATION OF NEW JERSEY AND
FOR THE YEAR ENDING DECEMBER 31 1911.
Gross earnings of leased and controlled companies
Operating expenses and taxes
Amortization Charges __________________________________
$30,125,508 43
$15,941,691 53
672,653 81
16,614,345 34
Public Service Corporation of New Jersey income from securities pledged and from miscellaneous sources__
Bond interest and rentals of leased and controlled companies
Fixed charges of Public Service Corporation of New Jersey
$13,511,163 09
1,890,512 55
$15,401,675 64
11,066,651 30
$4,335,024 34
2,540,242 65
69
Surplus____ _________________________________________________________________________________ $1,794,781
and its subsidiary operating companies, and certify that the
We have examined the general books of Public Service Corporation of New Jersey
combined earnings and profits of these companies for the
foregoing income statement is so prepared as to present a fair and correct statement of the
STONE & WEBSTER MANAGEMENT ASSOCIATION,
twelve months ended December 31 1911.
By A. R. PATTERSON. Auditor.
918
THE CHRONICLE
PUBLIC SERVICE CORPORATION OF NEW JERSEY.
CONDENSED BALANCE SHEET DECEMBER 31 1911.
AssetsLtabiliaes.
Investments at cost
865,630,340 12 Capital stock
825,000,000 00
Amount advanced to PubGeneral mtge. 5% sinking
lie Service Railway Co. 3,924,250 00
fund 50-yr. gold bonds. 30,000,000 00
Amount advanced to PubPerpetual interest-bearing
lie Service Electric Co__
250,000 CO
certificates
19,973,080 00
Cash
3,472,424 13 Accounts payabl,
192,106 19
Accrued interen and rentInterest accrued on bonded
abs receivable.
485,799 40
and other indebtedness_
561,125 00
.Accounts receivable
74,824 80 Reserve
125,000 00
Advance payments
14,403 07 Profit and loss
1,536,458 40
Deferred charges account
of discount on bonds_ _.. 3,535,728 07
877,387,769 59
PUBLIC SERVICE GAS COMPANY.
$77,387,709 59
CONDENSED BALANCE SHEET DECEMBER 31
1911.
AssetsLiabilitiesPlant, real estate and
Capital stock
37 950,000 00
property
$7,272,642 41 Mortgages payable
90,000 00
Investments
110,783 78 Accounts payable
958,832 58
'Cash
129,195 03 Rentals, bond Interest and
Accounts receivable:
taxes accrued
505,691 69
Customers _.$1,185,840 57
Reserves
11,922 56
Miscellaneous 1b2,813 27
Profit and loss
315,493 51
1,358,653 84
lIateriaLs and supplies
873,840 35
Advance payments
88,824 95
$9,831,940 34
PUBLIC SERVICE ELECTRIC COMPANY.
39,831,940 34
CONDENSED BALANCE SHEET DECEMBER 31 1911.
AssetsLiabilitiesPlant, real estate and
Capital stock
$10,250,000 00
property
$9,427,588 15 Mortgages payable
266,000 00
Investments
216,534 12 Accounts payable
612,356 03
Cash
144,103 11 Amount advanced by PubAccounts receivable:
lic Service Corporation
Customers __V ,082,280 79
of New Jersey
250,000 00
Miscellaneous 169,346 82
Rentals, bond interest and
1,251,607 61
taxes accrued
340,272 05
Materials and supplies_ _ _
743,244 74 Reserves
17,793 30
Advance payments
90,677 74 Prat and loss
137,334 09
$11,873,755 47
$11,873,755 47
[VoL. Lxxxxi v.
PUBLIC SERVICE RAILWAY COMPANY.
CONDENSED BALANCE SHEET DECEMBER 31 1011.
AssetsLiabilitiesRailway, equipment and
Capital stock
$37,794,900 00
property
$84,652,895 85 Capital stock reserved to
Investments
stock
retire
of
merged
66,487 85
Cash
..
companies
344,334 72
205,100 00
Accounts receivable
149,468 19 Bonds of merged cornMaterials and supplies
panics
011,757 27
41,000,000 00
Advance payments
25,938 51 Mortgages payable
201,185 00
Public Service Equipment
Trust Series "A" Certificates __
480,000 00
Public Service Equipment
Trust Series "B" Certificates
383,000 00
Car Trust Certificates Camden & Suburban My.Co.
21,000 00
Accounts payable
972,414 65
Amount advanced by Public Service Corporation
3,924,250 00
of New Jersey
Amount advanced by the
Riverside & Fort Lee
Ferry Co
75,000 00
.....-Premium on bonds sold
19,785 CO
Rentals. Interest and taxes
accrued
611,55589
Depreciation reserve
128,05070
Profit and loss
34,641 15
-385,850,882 39
$85,850,882 39
We have examined the general books of Publie Service Corporation
on
New Jersey and its subsidiary operating companies, and certify
that the
balance sheets as of December 31 1911, appearing on pages
12 and 13, are
in our opinion, properly drawn up, and show the true flb ancial
condltlo,
of the Corporation and its subsidiary operating companies as of that
date,
STONE & WEBSTER MANAGEMENT ASSOCIATION,
By A. 11. PATTERSOr Auditor.
PUBLIC SERVICE CORPORATION OF NEW JERSEY AND SUBSIDIA
RY COMPANIES.
STATEMENT OF FUNDED DEBT DECEMBER
31 1911.
Authorized.
Outstanding.
Public Service Corporation of New JerseyPublic Service Corporation of New Jersey 5% Gen. M. Duo
Oct. 1 1950. Fidelity
Trust Company (Newark), Trustee. Int. payable April
350,000,000 00 330,000,000 00
Perpetual Interest-Bearing Certificates of Public Service and October
Corporation
of New Jersey.
Fidelity Trust Company (Newark), Trustee. Rate 53,
6% (Maximum Rate 6% in
1913). Int. payable May and November
20,200,000 00 19,973,080 00
Amount
in the Hands
of Public.
330,000,000 00
789,705 00
19,183,285 00
349,973,080 00
$789,795 00 $40,183,285 00
$6,000,000 00
30,000,000 00
Public Service Gas Company.
Public Service Electric Company.
Companies Leased by Public Service Gas CompanyNewark Consolidated Gas Company 5% Consolidated Mortgage.
Due Dec. 1 1948.
Fidelity Trust Co. (Newark). Trustee. Int. payable
and December
$10,000,000 00
Newark Gas Company 6% First M. Due April 1 1944, June
J. William Clark, Marcus L.
Ward, John 0. H. Pitney, Trustees. Int. payable July,
October, January, April,
at Fidelity Trust Co., Newark
4,000,000 00
Hudson County Gas Company 5% First M. Due Nov. 1 1949.
New Jersey Title
Guarantee ec Trust Co., Trustee. Int. payable May and November
10,500,000
00
New Brunswick Light, Heat & Power Co. 4% First M. Due Dec. 15 1939.
Fidelity
Trust Co. (Newark), Trustee. Int. payable June and December
500,000 00
•Ridgewood Gas Company 5% First M. Due June 1 1925. Trust Co. of America,
Trustee. Int. payable June and December
100,000 00
Ridgewood Gas Company 5% Second M. Due April 1 1925. Fidelity Trust Co.
(Newark), Trustee. Int. payable April and October
100,000 00
Companies Leased by Public Service Electric Co.United Electric Company of New Jersey 4% First M. Duo June 1 1949. New Jersey
Title Guarantee & Trust Co., Trustee. Int. payable June and December
20,000,000 00
Consumers Light, Heat & Power Company 5% First M. Due June 1 1938.
Jersey Title Guarantee & Trust Co., Trustee. Int. payable June and December_New
_
1,000,000 00
North Hudson Light, Heat & Power Company 5% First M. Due Oct. 11938.
New
Jersey Title Guarantee & Trust Co., Trustee. Int. payable April
and October
2,000,000 00
.Middlesex Electric Light & Power Company 5% First M. Duo
Jan. 11955. Fidelity
Trust Co. (Newark), Trustee. Int. payable July and January
200,000 00
Weehawken Contracting Company 6% First M. Due Feb.
20 1928. Weehawken
Trust Co., Trustee. Int. payable August and February
30,000 00
Companies Leased by Public Service Gas Co. and Public Service
Electric
Co.Paterson ec Passaic Gas & Electric Co. 5% Consol. M. Due March 1
1949. The Paterson Safe Deposit & Trust Co., Trustee. Int. payable September and
5,000,000 00
Edison Electric Illuminating Co. of Paterson 5% First M. Due July March
1 1925. The
Paterson Safe Deposit do Trust Co., Trustee. Int. payable January and
July_
__
600,000 00
Passaic Gas Light Co. 6% First M. Due June 1 1922. The Paterson
Savings Institution, Trustee. Int. payable June and December
50,000 00
Passaic Lighting Co. 5% Consol. Mtge. Due May 1 1925. Guaranty
Trust Co.,
Trustee. Int. Payable May and Nov
450,000 00
.South Jersey Gas, Electric & Traction Co. 5% First Mtge. Due March 1
1953. Fidelity Trust Co. (Newark), Trustee. Int. Payable Sept. and March
15,000,000 00
Burlington Gas Light Co. 5% First Mtge. Due May 11921. Burlington City
Loan &
Trust Co., trustee. Int. Payable May and Nov
100,000 00
Trenton Gas & Electric Co. 5% First Mortgage. Due March 1 1949.
Trust
Co.
of
America, Trustee. Int. Payable March and Sept
2,000,000 00
Somerset Union & Middlesex Lighting Co. 4% First Mtge. Due Dec. 11943.
Fidelity Trust Co. (Newark), Trustee. Int. Payable June and Dec
2,750,000 00
Central Electric Co. 5% Consol. Mtge. Due July 1 1940. Fidelity
Trust Co. (Newark), Trustee. Int. Payable Jan. and July
750,000 00
Citizens' Electric Co. 5% First Mtge. Due Nov. 1 1915. Knickerbock
er Trust Co.,
Trustee. Int. Payable May and Nov
40,000 00
Edison Electric'Illuminating Co. of New Brunswick 6% First Mtge.
Due June 11918.
Benj. F. Howell. Theo. E. Townsend, Trustees. Int. Payable
and Dec
50,000 00
Plainfield Gas & Electric Light Co. 5% General Mtge. Due AprilJune
11940. Guaranty
Trust Co., Trustee. Int. Payable April and Oct
500,000 00
Somerset Lighting Co. 5% First Mtge. Due Feb. 1 1039. Fidelity
Trust Co. (Newark), Trustee. Int. Payable Feb. and Aug
150,000 00
The Gas & Electric Co. of Bergen County 5% Gen. Mtge. No. 2. Due
Nov.
1
1954.
Fidelity Trust Co.(Newark), Trustee. Interest Payable May and Nov
5,000,000 00
The Gas & Electric Co. of Bergen County 5% Gen. Mtge. No. 1. Due
Nov. 1 1054.
Equitable Trust Co., Trustee. Int. Payable May and Nov
5,000,000 00
The Gas ec Electric Co. of Bergen County 5% Consol. Mtge. Due June 1 1949.
Fidelity Trust Co.(Newark), Trustee. Int. Payable June and Dec
1,500,000 00
Hackensack Gas Light Co. 5% First Mtge. Due July 11934. G. W. Conklin, D.
W.
Chamberlain, Trustees. Int. Payable July and Jan. at Fidelity Trust Co.(Newark)
42,000 00
Hackensack Gas & Electric Co. 5% First Mtge. Due July 1 1935. G. W.
Conklin,
E. A. Pearce, Trustees. Int. Payable Jan. and July at Fidelity Trust
(Newark)
40,000 00
Hackensack Gas & Electric Co. 8% Debenture Mtge. Due Jan. 1 1917. Co.
Int. Payable
Jan. and July
50,000 00
Englewood Gas & Electric Co. 5% First Mtge. Due Jan. 1 1939. Geo.
W. Conklin,
David St. John, Trustees. Int. Payable Jan. and July
200,000 00
Princeton Light, Heat & Power Co. 5% 30-year Sinking Fund Mtge. Due
Feb. 11939.
Trust Co. of America, Trustee. Int.
Feb. and Aug
250,000 00
Shore Lighting Co. 5% First Mtge. DuePayable
April 11051. Fidelity Trust Co. (Newark),
Trustee. Int. Payable April and Oct
400,000 00
Total Public Service Gas Co. and Public Service Electric Co
Amount
Owned by the
Corporation.
3,999,700 00
3,999,700 00
10,500,000 00
10,500,000 00
500,000 00
500,000 00
100,000 00
100,000 00
85,000 00
85,000 00
18,617,500 00
3683,000 00
17,934,500 00
308.,000 00
308,000 00
367,000 00
367,000 00
181,000 00
21,000 00
160,000 00
30,000 00
30,000 00
4,034,000 00
4,034,000 00
600,000 00
000,000 00
50,000 00
50,000 00
316,000 00
316,000 00
12,753,000 00
3,368,000 00
9,385,000 00
100,000 00
100,000 00
2;000,000 00
2,000,000 00
1,974,196 87
573,000 00
1,401,196 87
700,000 00
20,000 00
680,000 00
40,000 00
40,000 00
50,000 00
50,000 00
460,000 00
460,000 00
150,000 00
21,000 00
129,000 00
2,063,000 00
455,000 00
1,608,000 00
46,000 00
46,000 00
1,430,000 00
1,436,000 00
28,000 00
28,000 00
10,000 00
10,000 00
3,000 00
3,000 00
23,000 00
23,000 00
174,300 00
1,900 00
172,400 00
400,000 00
400,000 00
368,098,696 87
35,142,000 00 $62,955,796 87
919
THE CHRONICLE
MAR. 30 1912.
Authorized.
Amount
in the Hands
of Public.
Amount
Owned by the
Corporation.
Outstanding.
$5,032,695 00 $112,139,081 87
$118,071,776 87
Brought forward
Public Service Railway CompanyTrust
Manhattan
1948.
1
May
North Jersey Street Railway Co. 4% First Mtge. Due
515,000,000 00 $15,000,000 00
Co., Trustee. Int. Payable May and Nov
Co. 4% First Mtge. Due Nov. 1 1949.
Jersey City Hoboken & Paterson Street Ry.
Nov.
and
20,000,000 00 14,061,000 00
May
Payable
Interest
New Jersey Title Guarantee & Trust Co., Trustee. Jan.
1 1914. Wm. H. Shippen,
North Hudson County Ry. Co. 6% First Mtge. Due
620,000 00
Hoboken
Bank,
1,000,000 00
Nat.
First
at
July
and
Jan.
Samuel B. Dod, Trustees. Int. Payable
July 1 1928. E. A. Stevens,
North Hudson County By. Co. 5% Consol. Mtge. Due
2,378,000 00
3,000,000 00
Bank, Hoboken_ _ _
Nat.
First
at
July
and
Jan.
Payable
Int.
S. B. Dod, Trustees.
Due May 1 1924. Fidelity
North Hudson County Ry. Co. 5% Improvement Mtge.
1,291,000 00
1,500,000 00
Fe Nov. at Fidelity Tr. Co., Newark
Trust Co.(Newark),Trustee. Int. payable MayExtension
1 1915.
Feb.
Due
Mtge.
Weehawken
5%
North Hudson County By. Co.
100,000 00
00
100,000
Trustee. Int. Payable Feb. and Aug
Central Trust
Trust Co.,
670 Consol. Mtge. Due June 1 1931. Knickerbocker
Co.,
Paterson By. Co.
1,250,000 00
00
1,250,000
Trustee. Int. Payable June and Dec
Paterson Savings InstituPaterson By. Co. 6% 2d Gen. Mtge. Due Oct. 1 1914.
300,000 oo
300,000 00
tion, Trustee. Int. Payable April and Oct
Due Dec. 1 1950.
Mtge.
First
Elizabeth Plainfield & Central Jersey By. Co. 5%Payable June and Dec
00
2,400,000
00
2,500,000
Fidelity Trust Co. (Newark), Trustee. Interest July 1 1922. Fidelity Trust Co.
Plainfield Street Railway Co. 5% First Mtge. DueJuly
00
100.000
00
100,000
(Newark), Trustee. Interest payable Jan. andGeneral Mortgage, due May 1 1954,
5%
Elizabeth & Raritan River Street Railway Co.
1,500,000 00
3,500,000 00
Nov
and
May
payable
Interest
Fidelity Trust Co. (Newark), Trustee.
July 1 1926. Fidelity Trust Co.
Brunswick Traction Co. 5% First Mtge. Due
500,000 00
500,000 00
July
(Newark), Trustee. Interest payable Jan. and Due
May 1 1944. Perth Amboy
Mtge.
East Jersey Street Railway Co. 5% First
500,000 00
00
500,000
Trust Co., Trustee. Interest payable May and Nov Due Jan. 1 1952. Fidelity
Middlesex & Somerset Traction Co. 5% First Mtge.
00
00
1,000,000
1,500,000
July
and
Jan.
payable
Trust Co. (Newark), Trustee. Interest
$7,770,000
*7,230,000 00
oa
12,563,000 00
1,498,000 00
620,000 00
2,378,000 oa
1,291,000 00
100,000 00
1,250,000 00
300,000 00
154,000 00
2,246,000 00
274,000 00
1,226,000 00
100,000 00
500,000 00
500,000 00
1,000,000 00
$41,000,000 oo $9,156,000 00 $31,844,000 00
Total Public Service Railway Company
Companies Controlled by Public Service Railway Co.1933. Manhattan Trust
$15,000,000 00
Consolidated Traction Co. 570 First Mtge. Due June 1
$15,000,000 00 $15,000,000 00
Co., Trustee. Interest payable Dec. and June
Jan. 1 1923. Edmund
Due
Mtge.
First
4%
Co.
Railway
Bergen
&
Jersey City
First
or
Co.
Trust
Manhattan
at
July
and
Jan.
258,000 00
Smith, Trustee. Interest payable
258,000 00
1,000,000 00
National Bank, Jersey City
1 1930. New Jersey Title
6,000,000 00
Newark Passenger By. Co. 5% First Mtge. Due July
00
6,000,000
00
6,000,000
July
and
Jan.
payable
Guarantee & Trust Co:, Trustee. Interest
Due June 1 1937. New
550,000 00
Passaic & Newark Electric Traction Co. 5% First Mtge. payable
550,000 00
1,000,000 00
June and Dec_
Jersey Title Guarantee & Trust Co., Trustee. Interest
April 1 1921. Fidelity
Due
Mtge.
500,000 00
Rapid Transit Street Railway Co. 5% First
00
500,000
•
00
500,000
Trust Co. (Newark), Trustee. Interest payable April and Oct Dec. 1 1938. New
Orange & Passaic Valley Railway Co. 5% First Mtg . Due
750,000 00
00
83,000
00
833,000
_
Dec_
00
and
1,000,000
June
payable
' Jersey Title Guarantee & Trust Co., Trustee. Interest
1 1946. New Jersey
Camden & Suburban Railway Co. 5% First Mtge. Due July
1,690,000 00
00
_
1,690,000
00
July_
and
3,000,000
Jan.
payable
Interest
Trustee.
Trust & Safe Deposit Co. (Camden),
New Jersey
Camden Horse Railroad Co. 5% Consolidated Mtge. Due May 1 1912.
250,000 00
250,000 00
500,000 00
and Nov_ _
Trust & Safe Deposit Co. (Camden), Trustee. Interest payable May Title
GuaranJersey
New
1951.
1
Bergen Turnpike Co. 5% First Mtge. Due July
00
1,000,000
00
1,000,000
00
1,000,000
tee & Trust Co., Trustee. Interest payable Jan. and July
People's Elevating Co. 5% First Mortgage. Due Oct. 1 1939. New Jersey Title
175,000 00
00
175,000
00
250,000
Oct
and
Guarantee & Trust Co., Trustee. Irterest payable April
March 1
New Jersey & Hudson River Railway & Ferry Co. 4% Fifty-Year Mtge. Due
4,011,000 00
4,011,000 00
_
5,000,000 00
1950. United States Mtge. & Trust Co., Trustee. Int. payable March and Sept_
Hudson River Traction Co. 5% First Mtge. Due March 1 1950. United States
*564,000 00
00
631,000
1,000,000 00
Mortgage & Trust Co., Trustee. Interest payable March and Sept
$83,000 00 $30,748,000 00
00
$30,898,000
•
Total Companies Controlled by P. S. Ry. Co
$71,898,000 00 $9,239,000 00 $62,592,000 00
Total Public Service Railway Co. and Subsidiary Cos
$189,969,776 87 $15,171,695 00 $174,731,081 87
TOTAL FUNDED DEBT
MISCELLANEOUS OBLIGATIONS.
Public Service Railway Company$40,000 due each Jan. 1
Public Service Series "A" Equipment Trust 8% Certificates.Int.
payable Jan. and July
and July 1. Fidelity Trust Co. (Philadelphia), Trustee.due each
Jan. 1, $23,000 due
$22,000
Certifs.
Public Service Ser."B" Equip. Tr. 5%
Int. payable Jan. and July
each July 1. Fidelity Trust Co. (Philadelphia), Trustee. $7,000
due each April 1st.
Bonds.
Trust
Car
5%
Co.
Railway
Camden Fe Suburban
April and Oct_ __ _
Camden Safe Deposit & Trust Co., Trustee. Interest payable
Real Estate Mortgages
Public Service Gas CompanyReal Estate Mortgages
Public Service Electric CompanyReal Estate Mortgages
$800,000 00
$480,000 00
$480,000 00
450,000 00
383,000 00
383,000 00
70,000 00
21,000 00
201,185 00
21,000 00
201,185 00
TOTAL MISCELLANEOUS OBLIGATIONS
90,000 00
90,000 00
266,000 00
266,000 00
$1,441.185 00
$1,441,185 00
New Jersey & Hudson River Railway & Ferry Company.
• $67,000 Hudson River Traction Company bonds owned by
WHICH ARE GUARANTEED THROUGH LEASES BY THE GAS COMPANY
LIST OF STOCKS OF SUBSIDIARY COMPANIES,DIVIDENDS ON
RATES OF PAYMENTS GUARANTEED THEREON.
WITH
COMPANY,
ELECTRIC
OR
COMPANY
RAILWAY
COMPANY.
ludson County Gas Co .
:ssex & Hudson Gas Co
rewark Consolidated Gas Co
'aterson & Passaic Gas & Electric Co
outh Jersey Gas, Electric & Traction Co
omerset Union & Middlesex -Lighting Co
'he Gas & Electric Company of Bergen County
'he Gas Light Company of the City of New Brunswick
'tilted Electric Company of New Jersey
Eiddlesex Electric Light & Power Co
fichols Electric Light & Power Co. of Nutley, New Jersey
:est Newark Gas Light Co
onsolldated Traction Co
tepid Transit Street Railway Co
outh Orange & Maplewood Traction Co
Irange & Passaic) Valley By. Co
iamden & Suburban Railway Co
'amden Horse Railroad Co
krechaWkC11 Contracting Co. PM
Vcchawken Contracting Co. common
ltizen's Electric Light, Heat & Power Co
lorristown Gas Light Co
Eidgewood Gas Company
low Jersey & Hudson River Ry. & Ferry Co., PM
Few Jersey & Hudson River Ry. & Ferry Co. Common
tinceton Light, Heat & Power Co
lurlington Electric Light & Power Co
horc Lighting Co
'
Amount
Amount
Capital
Stock out- Owned by in Hands
standing. Corporation. of Public.
510,500,000
$10,500,000
6,500,000
6,500,000
--------6,000,000
6,000,000
5,000,000 •$269,700 4,730,300
6,000,000
6,000,000
627,800
*422,400
1,050,000
2,000,003
2,000,000
400,000
___ ___
400,000
405,000
20,000,000 y19,595,000
h400
'174,600
175,000
h200
'24,800
25,000
x59,975
•25
60,000
15,000,000
15,000,000
504,000
504,000
225,000
225,000
76,200
y923,800
1,000,000
3,000,000
3,000,000
250,000
250,000
'41,050
41,050
h550
'69,450
70,000
h225
'41,175
41,400
h350
367,500
'367,150
100,000
100,000
d742,800
750,000
55,400
2,500,000 '2,444,600
6,650
'115,850
122,500
8500
'17,050
17,550
7,200
'104,800
112,000
RENTALS.
Equivalent Per Cent
on Capital Stock.
Ann.Rate
12-31-11.
8%
8%
5%
5%
8%
4%
4%
3 34%
5%
5%
10%
6%
4%
11 ,I%
2 2-3%
1 4-57
3 1-57:
24%
6%
107
50.0
2%
6%
6%
2%
12.82%
5%
Term of
Lease.
Years.
900
6- 1-03
8%
900
6- 1-03
8%
999
12- 1-98
5%
900
6- 1-03
8%
900
6- 1-03
8%
900
12-31-03
4%
999
2 (1914) 1- 1-05
5°
900
5% (1914) 1- 2-05
999
7- 1-07
5%
900
5- 1-08
5%
900
5- 1-08
10%
999
9- 1-09
67
999
6- 1-98
4%
999
6- 1-93
11U%
10- 1-03 Perpetual
2 2-3%
900
11- 1-03
1 4-57:
999
4% (1913) 5- 1-04
999
5- 1-96
24%
999
1- 1-10
6%
10%
5%
2%
6%1
6%J
2%
12,82%
5%
581,811,000 524,611,450 557,192,350
• Pledged under Public Service Corporation of New Jersey General Mortgage.
h Directors' shares.
d $7,200 Treasury Stock.
Co. and Newark Consolidated Gas Co.
x All of this stock except directors' shares is owned by Essex & Hudson Gas
Perpetual Interest Bearing Certificates.
Jersey
New
of
Corporation
y Pledged under agreement securing Public Service
Date
Lease.
Maximum
Rate.
6-15-10
7- 1-10
7- 1-10
iii
1-11
1-11
1-11
1-11
565
900
900
900
5555-
999
999
920
THE CHRONICLE
LIST OF STOCKS OF COMPANIES NOT LEASED
, OWNED BY THE
CORPORATION.
Capital
Amount
Amount in
Stock
Owned by
Hands of the
Outstanding. P.S.C. of N.J. Public.'
Public Service Railway Co
b$38,000,000 a$37,790,900
d$209,100
Public Service Gas Co
7,950,000
h7,949,500
500
Public Service Electric Co
10,250,000 h10,249,100
900
Elizabeth New Brunswick & Trenton Railroad Co
90,000
h89,100
900
$56,290,000 $56,078,600
$211,400
* Includes directors' shares.
a Pledged under agreement securing Public
Jersey Perpetual Interest-Bearing Certificates.Service Corporation of New
b Of this amount $205,100 is reserved to retire outstanding
stock of consolidated companies.
a Includes stock of merged companies.
h Pledged under Public Service Corporation of New Jersey
General Mtge.
SUMMARY OF SECURITIES OWNED BY THE
CORPORATION.
Par Value.
$15,171,695
24,611,450
56,078,600
Bonds
Stocks of Leased Companies
Stocks of Companies not Leased
Total
$95,861,745
EXPENDITURES CHARGED TO CAPITAL
ACCOUNT ON THE SYSTEMS OPERATED BY PUBLIC SERVICE
CORPORATION OF
NEW JERSEY AND SUBSIDIARY COMPANIES,
YEAR 1911.
ElectricReal Estate
$13,094
23
Generating Stations and Sub-stations
1,549,092 02
Distribution Lines
Meters, Transformers, Services, Arc Lamps, &c.. 803,0852
468,617 56
$2,635,689 23
[VoL. Lxxxxiv.
Brought forward
GasReal Estate
Works Extensions
Mains
Meters, Services, &c
$2,635,689 23
RailwayRight of Way
Other Land used in Electric Railway Operatio
ns
Ballast
Ties
Rails, Rail Fastenings and Joints
Special Work
Paving
Track Laying and Surfacing
Bridges, Trestles and Culverts
Interlocking and other Signal Apparatus
Poles and Fixtures
Distribution System
Stations, Waiting Rooms and Miscellaneous
Buildings
Shops and Car Houses
Cars
Electric Equipment of Cars
Shop Equipment
Other Rail Equipment
Miscellaneous Equipment
Telegraph and Telephone Lines
Docks and Wharves
Roadway Tools
Crossings, Fences. Cattle Guards and Signs__ _
Power Plant Equipment
Stone Crusher Plant and Machinery
Interest
$2,697 41
290,510 40
681,691 73
440,823 64
$1,415,723 18
$37,889 59
27,324 49
22,391 28
53,802 46
195,244 40
94,525 09
150,281 01
203,923 27
9,804 17
59,903 04
5,542 69
97,642 24
29,116 99
231,041 69
137,432 24
42,952 11
24,257 27
26,598 86
9,495 32
1,626 88
5,543 27
5,267 45
1,624 78
597 88
10,475 87
22,760 00
$1,507,065 24
Less amounts written oil during year for
depreciation, &c
357,907 71
1,149,157 53
$5,200,569 94
GROSS EARNINGS AND MISCELLANEOUS INCOME
OF PUBLIC) SERVICE CORPOR
ATION OF NEW JERSEY AND SUBSID
IARY COS.
Electric
Gas
Railway
P.
S.
C.
MiscelProperties.
Properties.
Properties.
laneous Income.
Total.
1903'
$1,776,557 65
1904
$3,026,993 50
$4,471,2
44
37
$187,403 74
$9,462,191 26
3,502,811 92
1905
5,378,440 63
8,415,278 79
463,249 75
17,759,781 09
3,721,631 08
1906
6;059,446 56
9,488,358 45
640,405 91
19,909,84; 60
4,161,917 61
1907
6,526,316 01
10,086,933 92
723,658 34
21,498,821 08
4,647,219 18
1908
7,251,480 50
10,705.392 77
1,023,951 44
23,628,04; 89
4,584,682 27
1909
7,340,930 23
11,086,353 43
1,246,721 36
24,267,68' 29
5,117,728 04.
1910
7,870,878 58
12,114,412 19
1,457,43
29
2
26,560,4
5,872,237 86
5 10
1911
8,401,882 46
x13,290,431 99
1,532,347 57
29,186,891 88
6,689,731 57
8,985,688 42
14,450,088 44
1,890,512 55
32,016,02
1 98
- • Seven months only. -x Inter-Company
transactions
COMPARATIVE STATEMENT OF GROSS
EARNINGS BY DIVISIONS.
PUBLIC SERVICE CORPORATION
OF NEW
AND SUBSIDIARY COMPANIES. JERSEY
Electric PropertiesYear 1911.
Year 1910.
Increase.
Bergen Division
$395,326 12
$334,951 40
$60,374 72
Central Division
914,703 80
731,217 28
183,486 52
Essex Division
2,281,61800
2,022,355 38
259,262
71
Hudson Division
1,533,803 48
1,416,740 27
117,063 21
Passaic Division
653,31609
580,896 50
63,419
59
Southern Division
908,682 87
774,788 41
133,894 46
Miscellaneous Income
2,281 12
2,288 62
Dec. 7 50
$6,689,731 57
$5,872,23786
$817,493 71
Gas PropertiesBergen Division
$392,83746
$327,619 60
$65,217 86
Central Division
311,266 58
277,091 50
34,175 08
Essex Division
3,359,60949
3,195,161 83
164,447 86
Hudson Division
2,588,34639
2,440,163 70
148,182 69
Passaic Division
995,245 18
978,721
88
16,523 30
Southern Division
1,212,858 49
1,142,230 49
70,628 00
Miscellaneous Income
125,52483
130,893 66
Dec.5,368 83
$8,985,688 42
$8,491,882 46
$493,80596
Railway PropertiesBergen Division
$926,484 52
•$467,810 06
$458,67386
Central Division
1,328,293 56
1,230,935 67
97,35789
Essex Division
5,153,905 75
4,873,31802
280,587 73
Hudson Division
4,606,249 15
4,429,687 85
176,561
30
Passaic Division
1,241,628 36
1,179,268 69
62,359 67
Southern Division
1,193,527 10
1,109,411 10
84,11600
$14,450,088 44 x$13,290,431 99 51,159,656 45
Gross Earnings of Leased
and Controlled Companies 30,125,508 43
27,654,552 31
2,470,956 12
Public Service Miscellaneous Income
1,890,512 55
1,532,347 57
358,164 98
Grand Total
$32,016,020 98 $20,186,899 88 $2,829,121 10
• Six months only, property acquired July
1910.
z Inter Company transactions N. J. & H. R.1Ry.
& Fy. Co. eliminated.
ELECTRIC STATIONS.
June 11903. Dec.31 1911.
Number of Generating Stations
14
30
Number of Boilers
113
241
Number of Generators
156
193
Capacity of Generators in Kilowatts
40,075
134,158
Number of Sub-stations
9
46
Number of Rotaries
12
75
Capacity of Rotaries in Kilowatts
5,400
52,700
Kilowatt Hours Produced (Years 1903 and 1911).12
9,614,180 316,921,842
ELECTRIC CONDUITS AND TRANSMISSION LINES.
(Railway and Lighting Combined.)
Length of Transmission Lines (in miles)
47
Length of Conduits (in street miles)
25
425
87
ELECTRIC DISTRIBUTION SYSTEM STATISTICS.
Number of Poles
45,059
107,713
Miles of Wire
4,244
11,246
Number of Transformers
5,336
13,659
Number of Meters
16,000
73,488
Number of Customers
16,190
72,727
Number of Street Arc Lamps
7,415
11,726
Number of Street Incandescent Lamps
5,517
18,906
Total Commercial Load Connected (in 50 W.
equivalent)
•
710.000
2,990,360
The increases shown above are somewhat, but not very
materially, affected by properties acquired between June 1
1903 and January 11912.
ELECTRIC LIGHTING STATISTICS.
1903. 1004.
Kilowatt Hours Sold
Number of Customers Dec. 31
Number of Street Arc Lamps supplied Dec. 31
Number of Street Incandescent Lamps supplied Dec. 31
Total connected load in K. W. Dec. 31
1005.
1906. I 1007.
1909.
1908.
1910.
1911.
48,804,308 56,666,749!65,472,56169,274,132 78,911,840 89,742,689
103,144,595
18,262 25,499
32,115
37,219,
45,799
42,2571
53,900
62,539
72,727
7,745 8,121
8,681
0,150i
11,441
11,726
5,733 8,538
12,351
13,1681
39
11,3
57
2
"
3'8
71
5,8
62
19
175
63
16,640
45,380 55,748
18,906
68,331
81,873! • 92,143
102,104
118,138
137,058
156,202
GAS STATISTICS.
1903.
(7 Mos.)
Gas Sold-M. Cu. Ft
Miles of Mains in use Dec. 31
Meters in service Dec. 31
Services Run
Ranges Sold
Water Heaters Sold
Hot Plates Sold
Heating Stoves Sold
Gas Arcs Installed
Weisbach Lamps Sold
Mantles Sold
Domestic Appliances Installed
Manufacturing Appliances Installed
House Piping Orders
Gas Fixtures Installed
Aggregate Burners
No. of Gas Engines Installed
Horse Power of Gas Engines
Mains in Use June 1 1903
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
2,875,555 5,120,814 5,756,202 6,473,835 7,003,793 7,162,58
8 7,676,574 8,404,760 8,894,571
1,495
1,584
1,856
1,987
2,060
2,119
2,241
2,456
2,637
187,384 209,155 242,352 269,881 290,768
305,044 331,034 360,101
338,606
7,043
11,795
13,371
14,277
16,031
10,711
15,218
15,232
15,327
6,415
16,459
16,838
15,964
19,391
9,409
13,864
20,608
18,152
994
2,226
3,638
2,529
3,302
2,084
3,268
5,971
4,690
3,024
4,494
4,366
4,433
4,214
2,849
3,106
3,606
3,912
3,159
3,839
6,129
3,287
6,099
1,799
1,051
2,423
2,949
1,028
1,069
1,623
895
2,196
1,830
4,505
3,952
12,503
21,224
21,202
21,592
24,597
12,755
18,264
80,986
21,689
51,685
96,146 104,857 117,605 116,684
81,361
75,954
82,489 146,894
104
760
705
371
432
602
1,674
4,029
9,431
124
267
439
344
420
364
572
621
686
3,825
6,003
6,913
9,416
5,469
1,095
3,050
3,469
3,942
27,553
45,197
48,697
61,795
43,652
20,409
28,383
32,689
32,179
39,256
63,838
67,821
86,891
60,966
30,391
40,429
44,485
42,667
91
110
121
82
89
29
38
53
39
709
915,i
951
777 A
961 Y6
340
495;,6
084J
333%
1.439 miles.
Meters in service June 1 1903
' 177,304.
Total.
119,005
137,100
28,702
34,004
31,615
17,098
234,812
873,675
18,108
3,837
43,182
340,554
476,744
852
6,175
921
THE CHRONICLE
MAR. 30 191 2]
RAILWAY TRAFFIC STATISTICS.
1904.
Revenue Passengers
Transfers and Passes
Total Passengers
Percentage'of Passengers using transfers
Average fare per passenger
Car Mileage
Car Hours
Passengers per Day
Passenger Receipts per Car Mlle
Passenger Receipts per Car Hour
1905.
1906.
1907.
1908.
1909.
1910.
1911.
165,400,000 180,000,197 198,326,467 211,025,386 219,421,974 238,171,257 258,746,130 277,730,238
50,000,000 55,079,789 62,986,021 71,638,588 74,688,628 81,548,978 82,652,558 84,820,157
215,400,000 235,079,986 261,312,488 282,663,974 294,110,602 319,720,235 341,398,688 362,550,395
21.4
22.1
23,0
23.0
22,1
23.2
21.2
21.8
3.82
3.78
3.72
3.70
3.83
3.70
3.76
3.83
44,561,141
42,632,760
40,890,360
39.519,972
39,178,277
32,168,888 35,068,223 37,462,804
4,003,614 4,228,344 4,464,162 4,671,246 4,598,714 4,747,729 4,961,608 5,159,073
993,289
951,721
875,948
803,581
774,422
715,925
644,055
588,525
30.29c. . 31.07c.
29.080.
27.56c.
26.29c.
26.75c.
25.73e.
25.59c.
$268
$260
$250
$221
$213 .
$237
$224
$206
MILEAGE.
First main track
Second main track and turnouts
Connections, crossovers, wyes and loops
Car house and yard tracks
Total
Total number of passenger cars available for operation:
Open
Closed
530
1,550
Number of new passenger cars since 1903:
Open
Closed
130
778
453.851 miles
265.286 "
12.383 "
36.060 "
767.580 "
National Electric Signaling Co., Pittsburgh.—Suit.—The
company on March 27 brought suit in the U. S. District Court
against the Marconi Wireless Telegraph Co. of America for
alleged infringement of a patent granted on Aug. 12 1902 to
Reginald A. Fessenden for wireless telegraphy apparatus
and assigned to the company, and 16 of the 35 claims under
which were held valid by the U. S. District Court of Maine
on Sept. 21 1911 (V. 93, p. 1025).
An injunction is asked for, also an accounting of the profits derived from
the manufacture and sale of the apparatus.—V. 93, p. 1025.
Track reconstructed with new rail during 1911
Track reconstructed with same rail during 1911
Extensions built during 1911
14.129 miles
10.348 "
7.963 "
MUNICIPALITIES SERVED BY PUBLIC SERVICE CORPORATION
OF NEW JERSEY AND SUBSIDIARY COMPANIES.
Municipalities Population
Served (1910),
Served.
1,922,526
161
Electric
1,809,170
151
Gas
1,748,926
119
Railway
2,025,151
199
Total Number
San Joaquin Light & Power Corporation, Los Angeles.—
Pref. Stock.—Louis Sloss & Co., San Francisco, have underwritten a block of 6% cumulative pref. stock (dividends quarterly) and, it is understood, are offering the same at 85, with
a bonus of 25% in common.—V. 93, p. 412.
Union Bag & Paper 0o.—Listed.—The New York Stock
Exchange has listed $648,000 1st M. 5% 25-year bonds,
due 1930, with authority to add $150,000 on notice of sale,
making the total amount listed $3,900,000.
The $798,000 bonds in question are stamped free of the New York mort-
to 5,000
National Packing Co., Chicago.—Defendants Acquitted in gage tax, making a total of 1,400 bonds so stamped, Nos. 3,601
incl. The proceeds of these additional bonds will reimburse the company
Criminal Proceedings.-_-A jury before Judge Carpenter in for
expenditures made in connection with the building and equipping of the
the—U. S. District Court at Chicago on March 26, after a Fenimore Paper Mill, and further payments on account of the purchase of
Gabriel Lumber Co., Ltd., stock and other improvements. The St.
trial begun on Dec. 6 last, rendered a verdict finding the St.
Gabriel Lumber Co. (of Canada) owns licenses covering about 284 sq. miles
ten packers not guilty of the charge made by the Govern- of timber limits in Prov.of Quebec and mill at St. Gabriel de Brandon,P.Q.
Earnings.—For year ending Jan. 31:
ment of criminal conspiracy in restraint of trade. Sherman
Balance
Net
Prof.
Deprecia- Sinking Interest on
Fiscal
Anti-Trust law (V. 93, p. 1605).—V. 93, p. 1729.
Year— Earnings. Lion, cte. Funds. Bonds, Divs.(4%). Surplus'
5138,995
$440,000
com$122,265
$114,095
$202,480
_$1,017,835
tgage.—This
1911-12
New England Power Co., Boston.—Mor
169,245
440,000
120,987
110,745
197,135
_ 1,038,112
pany has filed for record its first mortgage to secure not ex- 1910-11
—V.92, p. 1041.
1911,
1
July
ceeding $14,000,000 5% 40-year bonds dated
Union Switch & Signal Co. Swissvale, Pa.—Board Inprovision being thus made not only for immediate require- creased.—The stockholders on March 28 voted to amend the
found
be
ments but for any future developments that may
by-laws by increasing the number of directors from 7 to 9,
necessary in future years.
conis
John R. McCune and W. D. Uptegraff being added to the
this
under
mortgage
financing
additional
no
that
We are Informed
last board.—V. 94, p. 771, 696.
templated other than the $3,000,000 bonds which were underwritten
Boston.
summer by a banking syndicate headed by Baker, Ayling & Co. ofpar
value
United Boxboard Co., Chicago. and New York.—Plan.—
The proceeds of these $3,000,000 bonds, in addition to $750,000
C. Adsit, Chairman,
of 6% pref. stock, will, it is believed, provide adequately for the completion
in Massa- The reorganization committee, Charles
of the development work now in progress on the Deerfield River
chusetts. Tills work will result in developing about 25,000 h.p., 6,000 of Chicago, Mch. 23, wrote in substance:
enough
which, it is expected, will be available for sale by Aug. 1 next, whilerequirefor
more will be generated and transmitted by the end of this year 634.
565.
p.
94,
V.
See
of
Tunnel.
Hoosac
cal
operation
ments of electr
The response to the plan of Feb. 26 1912 (V. 94, p. 636) has been very
encouraging. So far as the committee is informed, there has been no opposition of sufficient importance to justify recognition. The largest stockand the largest holders of the general mortgage bonds have signified
New York Edison Co.—Results.—For calendar year, as holders
their willingndss to support the plan, and many of them have paid the first
reported to the Public Service Commission:
installment. The time for depositing bonds and stock and paying the first
Balance,
Operating Net (after Non-Oper. Interest, Dividends
has been extended to and including April 26 1912.
Surplus. installment thereon
(6%).
Calendar Revenue. Taxes, ee.c.) Income. Rent&c.
The committee feels assured that the plan will ultimately be a success, but
$
Year—'
not carried out, there will be no charges made against the
ills
event
the
in
1911 _.._19,089,851 11,402,388 1,080,564 3,801,796 3,009,204 5,671,952 depositing stockholders and the depositing bondholders for any of the exwill defray the expenses
1910 ____18,051,106 7,365.864 1,150,509 2,695,027 2,897,100 2,924,246
peAlgeS incurred by the committee. The company
In 1911 subway rents ($1,189,691) are Included in Interest, rents, &c., of the committee in that event. [Herman Grossman of Chicago, a direcin profit
6s, and Lazard Kahn of
trust
col.
of
deposits
for
and renewal and contingency reserves ($2,688,556) are included
28
Feb.
tor, advertised on
expenses.
ft)mut March 3 smt a letter to the shareholders opposing
and loss. These items in previous years were incl. in operatingrenewal
and Hamllton, 0., on orp.
Total surplus Dec. 31 1911, after deducting $2,603,617 for
636.
771,
94,
---V.
plan.)
tile
contingency reserves, &c., and crediting sundry adjustments amounting
to $17,345, was $23,377,489.—V. 93, p. 474.
United States Metal Products Co.—Guaranty.—See Metal
Shingle & Siding Co. above.—V. 92, p. 467.
United States Steel Corporation.—Sale of Bonds.—As authorized by the unanimous vote of the board, not including
Racine-Truscott-Shell Lake Boat 0o.—Successor Company. any member of the firm hereinafter mentioned, the Corporation has sold to J. P. Morgan & Co. $30,500,000 bonds on a
—See National Boat & Engine Co. above.
of 5.1% rate of interest, namely $15,000,000 secured on
basis
O.—
em,
N.
(R. J.) Reynolds Tobacco Co., Winston-Sal
Steel Co. plant at Gary, Ind., $10,000,000 on the
Indiana
the
statement:
following
Earnings &c.—We have theManufactures plug, twist and smoking Lorain Steel plant at Lorain, 0., and $5,500,000 debentures
1899.
April
Incorp. in N. J.
N. C. Leaf and of Illinois Steel Co., being part of an issue heretofore auth.
tobaccos. Plants and general offices at Winston-Salem,
13oston and Martinsville,
re-ordering plants at Richmond, Danville, South
As there must be expended during the year about $20,000,Ky.
Lexington,
and
C.,
N.
Reidsville,
Va., Mount Airy, N. C.,
Net earnings and % thereof on Stock (Afars. $10,000,000; issued $7,525,000. 000 for extensions of properties generally, heretofore author—Par $100. No Prof. Stock. No Bonds).
ized, and as about $17,000,000 additional working capital is
1911.
1910.
1909.
1908.
1907.
needed in consequence of the increased business, particularly
Net
$1.281,785 $1,780,646 $1,925,515 $1,670,006 $2,076,686
9
22.19
032
25.59 7.5
17.
23.66
Per cent
the ore department, it has been thought advisable to obin
6%
6%
• 6%
Regular divs
6%
None
None
the sum named by the sale of bonds, in order to keep the
14%
tain
13%
10%
Extra dividends..
Net selling value of product for 1911, $17,946,268. Regular dividend
on hand up to the sum shown on Jan. 1 1912. In the
cash
53,820,866,
1911,
8% per ann.(3% J. &J.), Net undivided profits Dec. 31
been appropriated from net earnings for
The capital stock formerly held by the American Tobacco Co. was recently past large sums have
distributed, In accordance with decree of U. S. Circuit Court (V.93,p.1122). capital expenditures. See report, V. 94, p. 825.
April.
in
Fiscal year ends Dec. 31. Annual Meeting, first Tuesday
Description of New Bonds, Guaranteed Principal and Int.
Transfer agent, Eq. Tr. Co.: registrar, Cent. Tr. Co., both N. Y. City.
Directors: R. J. Reynolds, Pres.; W. N. Reynolds, let V.-Pros.; It. S.
$15,000,000 Indiana Steel Co. 1st M.5% bonds,covering
(1)
Reynolds, 2d V.-Pres.• Geo. %V. Coati, Sec.; D. Rich, Treas.; W. R.
authorized $40,000,000, dated May 11912,
.
Henry A. Oetjen, 75 Montgomery St., the Gary plant,
Reynolds, all of Winston-Salem;
maturity May 11952, interest M. & N. Sinking fund 1%
Jersey City.— V. 85, p. 288.
remaining $25,000,(M.) Rumeley Co.—First Distribution.—An initial quar- annually, beginning May 1 1916. The
on new construction dating
terly dividend of $2 34 per share (covering 4 months) has 000 bonds can only be put out
of cost.
been declared on the $8,000,000 7% cumulative preferred from Jan. 1 1912 and at 75%
(2) $10,000,000 1st M. 5% bonds of "The Nat. Tube Co.",
stock, payable April 1 to holders of record March 20. Comnot the old company, but the later one organized to build the
pare V. 93, P. 1533.—V. 94, p. 491, 420.
Lorain plant. This issue has the same date and maturity
FranSan
Co.,
-Oakland
Power
Terminal
Francisco
San
that other and is authorized for $15,000,000, with similar
as
This
incorporated
was
Enterprise.—
company
cisco,—New
as to issue of the balance of the bonds. Sinking
condition
auth.
12
of
1912,
March
with
$30,000,000
on
in California
to May 1922 and 13% thereafter.
prior
1%
fund
be
of
to
shares,
is
which
$100
$10,000,000
in
capital stock,
$5,500,000 Illinois Steel Co. 5% debentures, of which
(3)
14
title
properMarch
the
was
to
taken
On
preferred.
6%
thera was previously $10,000,000 out. See "Railway &
ties of the Sierra Water Supply Co., all of whose $5,000,000 issue
Section," page 179.
Industrkl
94,
(V.
Cal.
United
of
Co.
Properties
the
by
owned
stOck sva,
issues coinprising the sale just made are guaranthree
The
19
new
On
Maroh
the
company.
of
also
owner
p. 127), the
rrrtlst
and interest, by the United States Steel Corprincip_al
teed,
J.,
N.
Mechanics
Co.
of
the
to
filed
a mortgage was
p. 825, 841.
91,
.
poration.—V
of
5%
bond.
$30,000,000
exceeding
not
as trustee, to secure
Pittsburgh (Pa.) Brewing 0o.—New Officer.—
William Ruske, formerly Sec., has been elected Pres., to succeed the late
F. W. Mueller; W. P. Heckman, Asst. Sec., becomes Sec.•, John Mueller,
son of the late President, succeeds his father as a director.—V. 94, p. 830.
922
THE CHRONICLE
United States Realty & Improvement Co.-Mr. Kinnear
Accepts.-W. S. Kinnear has resigned as President of the
Kansas City Terminal Ry. to become President of the company, effective May 1. • Compare V. 94, p. 771.
United Wireless Telegraph Co.-Sale of Assets.-See
COMMERCIAL EPITOME.
Marconi Wireless Telegraph Co., above.-V.94, p. 831, 703.
Friday Night, March 29 1912.
Business' continues to expand. Iron and steel products
Upchurch Lumber Co., Jacksonville, Fla.-Bonds.-The
are in increasing demand. Production of these finished macompany will retire $25,000 bonds on April 1.
terials is augmenting. Copper has continued to advance.
The bonds ($500,000) were handled by Farson, Son & Co.,
New York
and Chicago a year ago.
The textile trades still show a growing business. So also
does
the leather industry. Bank clearings show important
Utah Gas 85 Coke Co., Salt Lake City.-Sale of Control.gains over those for the same week last year, and are also
The Farwell Trust Co. of Chicago for its own and other interabove
1910. The English coal strike seems to be nearing
ests has closed a deal for the transfer of control to Kelsey,
its end. Stocks of merchandise here supposed to be small.
Brewer & Co. of Grand Rapids, Mich. New officers are:
LARD on the spot has continued to advance on light rePres. Charles B. Kelsey, Grand Rapids, Mich.; Vice-Pres., Geo. A.
Snow,
Salt Lake City; Sec. & Treas., Joseph H.Brewer, Grand Rapids.
Directors ceipts of live hogs at the West, stronger prices for hogs, a
include the above and Victor F. Dewey, Grand Rapids;
C.
A.
Boalt,
St.
firmer market for futures and an increase in the demand for
Paul, Minn.; Frank B. Stevens, Salt Lake City; Blaine Gavett,
Grand
Rapids.-V.93, p. 52.
product; Prime Western 10.15c.; Middle Western, 10c.;
Virginia-Carolina Chemical Co.-Listed.----The New York City, steam, 9%@9Y4c. Refined lard has also been firmer
Stock Exchange has listed $3,000,000 first M. 15-year 5% with a larger demand; refined Continent; 10.25c.; South
bonds, due 1923 (which were recently sold to provide work- American, 10.85c.; Brazil in kegs, 11.85c. The
n
ing capital for other purposes), making the total amount in futures has been more active and prices havespeculatio
advanced.
listed $14,100,000. Compare V. 94, p. 771.
Stimulating and strengthening factors have been the falling
Warren (Md.) Manufacturing Co.-Decision.-See Balti- off in the arrival of live hogs, an increased cash demand and
support from packers.
more, Md., in "State and City" Department.
DAILY CLOSING PRICES OF LARD FUTURES IN NEW YORK.
West India Electric Co., Jamaica.-Report.-For year:
Sat.
Mon.
Tues.
Wed. Thurs.
Frt.
Wite Tommercial
Bond
YearGross.
Net.
Int.
1911
$263,108 $129,865 $30,000
1910
240,067 129,773 30,000
-V. 92, p. 727.
RentalJam. Dims.
SurTaxes.L.&P.Co. (5%)
plus.
$7,851 $12,000 $40,000 540,013
7,136 12,000 40,000 40,637
Westinghouse Electric & Mfg. Co.-Resumption of Common Stock Dividends.-A dividend of 1% has been declared
on the $36,694,587 common stock, payable April 30 to holders of record April 5, "from last year's earnings," being the
first distribution since the reorganization of 1908, with its
issue of $12,743,950 new common, about equally divided between creditors and subscribers, at par for cash.
DIVS.in 1900)- '01. '02. '03. '04-'07. '08. '09. '10. '11.
1912.
% 7
7 8 10 y' y. 0 5 M10 M12 MTo Apr.,3
Preferred----Common
--------%
-%
7 73-,( 10 y'ly. 0
0
0
0 April, 1
An official statement says that the question of the next dividend
will not
be considered for six months, when the earnings during
that period and
the prospects for the future can be taken into account.
the uncertainties now surrounding business generally, the "Having in view
necessities of the
company in preparing to meet maturing obligations, increasing
Its business
and conserving its facilities, the directors feel that this is in line
with the
conservative management of the property, whose prospects,
in the judgment of the board, are such as to justify the expectation of better returns
for the future."-V. 94, p. 141.
May delivery
9.75
July delivery
9.90
DAILY CLOSING PRICES
Sal.
May delivery
9.55
July delivery
9.72 A
Times:
9.77
9.87
10.00
10.00
10.00
9.95
10.07
10.20
10.25
10.20
OF LARD FUTURES IN CHICAGO.
Mon.
Tues.
Wed. Thurs.
Frt.
9.60
9.75
9.85
9.82 M 9.77 M
9.80
9.95
10.02 M 10.00
9.95
PORK on the spot has been moderately active and firmer
on a lessened movement of live hogs at the West; mess $18 50
@$19, clear $17 50@$19 and family $19 50@$20. Beef has
been firm, with a fair trade; mess $12, packet $13, family
$15@$15 50 and extra India mess $24 50@$25. Cut meats
have been quiet and firm; pickled hams, loose, 10@20 lbs.,
11VIA12%c.; pickled bellies, 6@12 lbs., 10%@11%c•
Butter in moderate demand and firmer; creamery extras
31%c. Cheese quiet and firm; State, whole milk, specials,
white 19c. Eggs easier on larger receipts; Western firsts
21%622c. •
OILS.-Linseed has been quiet but firm on stronger seed
prices; city, raw, American seed, 73@74c.; boiled 74@75c.,
Calcutta, raw, 80c. Cottonseed firm; winter 6.10@6.40c.,
summer white 5.85()6.10c., crude 4.67c. Cocoanut stronger
on smaller supplies; Cochin, 9.60®10c., Ceylon 8.90()9c.
Lard strong on the firmness of the raw material; prime 75(3
85c. Corn in moderate demand and steady at 5.55@5.60c.
Cod quiet and steady; domestic 52@53c.
COFFEE on the spot has been quiet but firmer, in sympathy with a rise in futures; Rio No. 7, 143
%@14Y3c.; Santos
No. 4, 163-@163-4c. West India growths have been quiet
and firm; fair to 'good Cucuta 163@16Uc. Prices for
futures have advanced, owing largely to manipulation and
covering of shorts, though there has also been more or less
new purchasing. The continued heavy receipts, however,
have a tendency to check operations on the long side except for quick turns.
-A new vest-pocket edition of "Valuations" published
by the "Financial Press" is ready. Additional useful
interest tables are included, and new bond value tables
covering 4% bonds, are an extra feature in the 13th
edition, which contains 222 pages. The usual interest tables,
bond values, amortization papers, and sinking fund
tables appear again in the latest edition, as heretofore.
Prices and sample copies for inspection sent on request.
Address, the "Financial Press," 124 Front St., N. Y.
-At 933/ and interest, to yield the investor 5.44%,
White, Weld & Co., 5 Nassau St., N. Y. and the Rookery,
Chicago, are to-day offering $3,000,000 Federal Light &
Traction Co. first lien 5% sinking fund bonds, due March 1 April
13.70c.1July13.90c. Oct
13.950.1Jan
13.90c.
May
3.93
13.80c. Sept
13.95c.
c.Feb
Aug
Nov
13.85o.
1942. See advertisement elsewhere in the "Chronicle" for June
_ _13.85c.
14.00c. DecDeo
13.900.
particulars and our "General Investment News" Department
SUGAR.
has been quiet and easy. Centrifugal,
for other information. Circular and map of property mailed 96-degrees -Raw
test, 4.36c.; muscovado, 89-degrees test, 3.86c.;
on request.
molasses, 89-degrees test, 3.61c. Grinding in Cuba is active.
-The firm of Mayer, Walter & Co. of Cincinnati has dis- The visible supply in the world is estimated at 2,820,000
solved, and the members, Jesse C. Mayer and Starr Walter, tons, against 3,520,000 a year ago. Refined quiet and steady
together with Charles H. Deppe, have formed a co-partner- at 5.45()5.50c. for granulated. Hops quiet and firm.
ship under the name of Mayer, Deppe & Walter. Mr. Deppe
PETROLEUM.-Refined has continued firm, with active
was formerly connected with the Union Savings Bank & purchasing by domestic and foreign consumers; barrels 8.20c.;
Trust Co., Cincinnati, and was recently Vice-President of the bulk, 4.60c.; cases, 10.10c. Gasoline has been in brisk
Chicago Bond House of McCoy & Co.
demand and firm; 86 degrees in 100-gallon drums, 21c.;
-Investors in high-grade securities will be interested in drums, $7 50 extra. Naphtha has ruled strong, witla liberal
the list of bonds advertised for sale in to-day's issue by the buying; 73©76-degrees in 100-gallon drums, 18%c.; drums,
old established banking house of E. W. Clark & Co., 321 $7 50 extra. Spirits Of turpentine easier at 52©52%c.
Chestnut St., Philadelphia. The rate of income on these Rosin firm at $6 90 for common to good strained.
TOBACCO.-Binder has been in smaller request during the
bonds ranges from 3.90% to 5.38%. See advertisement
week, but the tone continues very firm. Statistics are favorelsewhere in the "Chronicle" for particulars.
-Cyrus P. Brown, former President of the Industrial able to sellers,and with manufacturers believed to be poorly
Trust Co., Providence, and Frank D. Lisle, of the bond supplied with material, packers expect to see a consid rhouse of D. A. Peirce & Co., from which he will retire, have able increase in the demand as the spring season advances.
Filler is meeting with a limited request, but stocks on hand
formed a co-partnership under the name of Brown &
are comparatively light, as a rule, and prices continue firm.
to carry on a general brokerage business.
Sumatra rules very firm, but the strength
-Lawrence Grange has become associated with 0. B. to check the demand. Havana is meetinghas had a tendency
with a fair inquiry
Lansinger & Co. of Philadelphia, dealers in investment se- at firm prices.
curities, and will have charge of their trading department,
COPPER has continued in demand and prices are firmer;
devoted to all active and inactive bonds and stocks.
sales of electrolytic have been made to domestic buyers at
2e. and in Europe at 159c. Michigan producers have
-Attention is called to the advertisement of C. E. Denison 153/
& Co., Boston and Cleveland, offering a list of investment advanced asking prices lor lake to 155Ac. It is estimated
bonds yielding 3.50% to 6%. A descriptive circular will be that the production for the month of March will show a
material increase. Tin firmer at 43c. for spot. Spelter
mailed on request.
-The,banking firm of Ne-wburger, Henderson & Loeb of has been quiet and firm at 694c. Lead has been quiet but
Philadelphia has leased the property at 1410 Chestnut firmer at 4.30c. for spot. Pig iron has ruled firm at $15 25
Street for ten years, and will improve it with a two-story @$15 75 for No. 1 Northern and $14 75@$15 for No. 2
Southern. There has been increased buying by manufacbuilding.
in the East, including pipe works, stove plants and
-,--Clark, Dodge & Co., 51 Wall Street, N. Y., announce turers
machinery manufacturers. The tendency of finished mathe opening of an office in the Rookery,Chicago, under the terial is
distinctly upward. Some Western railroads have
management of E. P. Truett.
placed large contracts for rails.
On Shipboard, Not Cleared tor-
COTTON.
Friday Night, March 29 1912.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
140,646 bales, against 175,215 bales last week and 184,055
bales the previous week, making the total receipts since
Sept. 1 1911 10,519,161 bales, against 7,853,552 bales for
the same period of 1910-11, showing an increase since Sept. 1
1911 of 2,695,609 bales.
Receipts at-
Sat.
8,203
130
____
1,048
Mon.
Tues.
4,928
78
____
3,237
Fri.
Wed. I Thurs.
9,032 5,320
825
635
____
____
5,351 . 2,508
Galveston
Texts City
Port Arthur, doc_
New Orleans
Gulfport
309
-i55 1,237
307
Mobile
---- -- ----Pensacola
--------18
14
Jacksonville, &c _
3,572 7450 4,739
3,761
Savannah
Brunswick
1,iiii -iii. 1-05ii
-ii53
Charleston
Georgetown
811
1,871
1,670
1,577
Wilmington
2,585 2,544 2,537 1,686
Norfolk
_
___
____
--__
-___
&c.
News,
N'port
240
35
____
35
New York
'
673
148
60
Boston
---------------Baltimore
Philadelphia__ _ _51 _-__
Totals this week_
Toial.
5,621 35,581
2,10
359
4,649
4,649
2,149 23,066
1,100
1 100
3,474
289
----37
5
5,408 30,380
7,500
7,501
5,368
533
2,480
84
_ ___
8,776
537
---___
5,456
-iiii
751
1,081
1,512
1,126
___
_-
---191
4,575
38
---31
8,192
11,559
48:'
Sic
1,82r
4,872
12(
18,555 18,271 29,678 18,122 20,982 35,038 140,642
The following shows the week s total receipts, the total
since Sept. 11911, and the stocks to-night, compared with
last year:
1911-12.
Receipts to
March 29.
IAA AAA1AMAID 1A1
Stock.
1910-11.
This Since Sep This Since Sep
Week. 1 1$11. Week. 1 1910.
35,587 3,267,202 19,963 2,607,887
Galveston
160 306,852
2,109 570,82.,
Texas City
4,649 234,494 9,000 254,295
Port Arthur, &c_
New Orleans_ _ _ _ 23,069 1,476,719 14,861 1,388,285
34,211
____
62,134
1,100
Gulfport
3,474 351,915 1,363 233,682
Mobile
188,144 3,846 111,493
Pensacola
22,141
156
48,955
37
Jacksonale, doe_
5,224 1,336,440
30,386 2,204,069
Savannah
102 219,410
7,500 385,570
Brunswie't
403 273,406
5,303 397,058
Charleston
110
819
1,222
Georgetown
--- 784 394,675
8,192 515,450
Wilmington 2,526 519,589
11,559 653,641
Norfolk
__ _ _
3,924
26,404
486
N'port News, &c_
7,849
487
5,217
310
New York
34,532
290
48,583
1,825
Boston
898 103,344
4,875 106,116
Baltimore
315
___ _
837
120
Philadelphia
Total
An
15/07 WV/ 1,0
1912.
1911.
266,470
9,723
87,965
189,693
17,600
30,931
108,486
2,149
12,188
173,732
21,437
30,774
53,731
4,711
21,266
22,543
43,482
3,228
14,975
164,847
8,827
6,147
7,162
208,223
7,730
4,009
2,175
no.1 'IAA
Kgil R.Ift
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
• •
1908. 1 1907. .
lino. 1 1909.
1912. I 1911.
Receipts atGalveston _ _
Texas Cy.,(+co
New Orleans
Mobile
Savannah
Brunswick
Ch'leston, &c
Wilmington_
Norfolk
N'port N.,&o
All others_ __
Total this wk
35,587
6,758!
23,069
3,4741
30,386
7,500
5,368
8,192
11,519
486
8,267
140,646
5,686
20,887
4,792
32,675
3,796
11,336
8,165
1,016
1,700
3,730
467
12,490
36,577
3,813
23,670
3,576
12,951
950
2,895
2,470
4,117
1,986
2,077
37,851
50
25,053
3,474
12,161
1,214
664
1,997
6,251
128
9,840
37,673
17,018
25,110
1,607
9,283
5,829
1,156
778
5,313
522
4,719
60,182
101,054
95,082
98,683
109,008
19,963
9,160
14,861
1,363
5,224
102
513
781
2,526
Since Sept. 1 10,549,16117,853,552 6,409,303 8,601,764 7,328,528 8,920,481
The exports for the week ending this evening reach a total
of 160,782 bales, of which 76,785 were to Great Britain,
_ to France and 83,997 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1911:
Ilireek ending Met. 231912. • 1 From Sept. 1 1911 to Mch. 29 1912.
Exported toExported toExports
from-
ContiGceat
ContiI Great
'Britain.Fence. nent. Total. 1 Britain. France. nent.
Total.
Galvcston ___. 16,032 ___ 15,693 31,7251,239,797253,586 1,161,3612,654,744
9,652 9,652 392,431 92,817 80,487 565,735
Texas City_
94,449 176,541
20,121 61,971
Pt. Arthur, Arc
New Orleans__ 29,885 _ _ 3,928 33,813 701,144 146,150 427,350 1,274,644
62,423 109,776 257,553
-85,354
--------Mobile
I 50,551 49,137 88,844 188,532
Pensacola _ _ _ _ ..... _
Gulfport21,232 23,302 44,53g.
-2,502 __ __ 25,910 28,112 423,058164,298 962,8291,5.50,185
Savannah _ _
159,433 337,768
Brunswick7,282 7,282, 178,335
199,209 242,839
43,630
Charleston.... _ __
8,001 8,001
17,872 144,312 115,441 203,819 463,572
Wilmington_ .. 17,872
16,037
3,018
12,939
Norfolk
__ __ .
Newport News _
New York.... 6,121 -___ 4,618 10,742 207,654 69,039 245,232 521,925
7,042 144,418
3,466
3,468 137,376
Boston
15,963 5,920 83,975 • 105,858
646
,.
Baltimore
17,190 68,728
904 ---------004 51,538 _
Philadelphia _J
2,800
Portland, Me_ I .
7,1594 7,894
180,103
-----------180,103
.... _
Ban Francisco.'
I
04,833 104,833
'
373
- - -Seattle
57,750
----57,750
.
Tacoma
-----------------------.. ,
-- -Portland, Ore !
1 .
-.-Pembina
...1
4,868
-- -4,868
Detroit
I
(76.785 __ __ 83,997160,7823,711,87110420144,210,0828,963967
Total
-total 1910-11_ 24.5391 8.932 46.032 79.503 3 oxa 4,12 gr.9 011 0 701 (inn rt r.v2
P
I
•
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.
923
THE CHRONICLE
MAR. 30 19121
Other CoastGerGreat
March 29 at- Britain. France many. Foreign wise.
Total.
Leaving
Stock.
68,483
2,490 94,636
16,000
2,000
-Soo 16,690
1,100
18,000 16,000
6,400
2,100
22,000
1,000
121,210
171,834
157,732
28,774
14,241
27,482
158,447
71,439
Total 1912
89,787 18,732 65,323 49,577 18,790 242,209
9,175 3,177 32,478 23,504 8,972 77,306
Total 1911
Total.1910_ 21,701 16,330 24,162 23,986 17,654 103,833
751,159
453,530
433,223
New Orleans__ 15,714
Galveston ____ 46,491
5,700
Savannah ____
2,000
Charleston_ _ _ _
Mobile
7,882
Norfolk
New York_ _ _ _
2,000
Other ports
10,000
6,306 20,723 25,740
9,318 22,800 13,537
4,200 6,100
-308
7,100
800
2,000
1,500
9,000
Speculation in cotton for future delivery has been on a
very moderate scale. In fact, at times it has been distinctly dull. Yet prices have advanced. The explanation
is to be sought in reports of more or less unfavorable weather
at the South, even though conditions have on the whole improved. The point is that the crop preparations, though
they have latterly been pushed with more vigor, are believed
to be considerably behind those of last year, especially in
bottom lands. Also,there have been growing hopes of an
early end of the coal strike in England. The principle of
the minimum wage has been accepted by British mine owners, and the wage-bill terms will be submitted to a referendum
vote of the coal miners. This is believed to mark the beginning of the end of the strike. Certainly the general belief
is that the measure will receive the approval of the vast
majority of the miners. Indeed, dispatches from the other
side show that not a few of the English, Welsh and Scotch
miners are even now returning to work under the pressure of
poverty. On this side of the water efforts are being made to
prevent a coal strike. There are still some labor disputes in
New England, but it is the general belief that they are not
likely to be of very long duration. The reports seem to indicate that the Mississippi River will reach a flood stage by
to-morrow or next week, but it is said that the improvements.
in the levees of the lower Mississippi in recent years have
been such as to give little ground for fear of their breaking.
Besides, high water in the spring is an annual incident
and rarely does much harm to the cotton crop. But the
growing prosperity of the textile trades at home and abroad
is regarded by many as affording no small justification
for present prices, if not for some advance. The exports
have reached a total larger than that attained heretofore
for entire seasons, and the expectation of a total of some
10,000,000 bales seems to be spreading. At the same time,
bulls are predicting a domestic consumption of 5,250,000
bales. Meantime, the spot markets are generally strong,
with a steady demand. Southern prices are above the New
York parity. That seems to effectually forestall attempts
to bring cotton to New York. The stock here, therefore,
shows a tendency to decrease, rather than to increase. In
fact, New York seems to be relatively the cheapest cotton
market in the world. There has been, as a rule, very little
pressure to sell contracts here, though there has been some
"milking" of the market from time to time by some big interests. Some of them on Thursday are said to have sold
50,000 bales of "long" cotton, checking an advance on that
du. The impression is very general that large spot houses,
Wall Street firms and Waldorf-Astoria operators are in not a
few cases arrayed on the bull side. Fall River's weekly sales
of print cloths have latterly been the largest for about a year
past, and print cloths have been rising. On the other hand,
weather conditions on the whole show a tendency to improve.
Field work is being vigorously pushed, and the visible supply
of cotton is very large. The crop this year is it seems, fully
16,200,000 bales, and there are those who think that whatever the predictions in regard to exports and domestic consumption, the visible supply on the first of next September
is likely to, be anywhere from 2,000,000 to 2,500,000 bales.
If that should be the case, it will go far to offset some possible
decrease in the crop should it get a late start, or if it should
meet with some setback during the summer. It is believed,
too, that there will be an increase in the acreage in Texas, if
not in other parts of the Southwest, through the breaking up
of prairie lands. Sales of fertilizers are rapidly increasing.
Sales of mules earlier in the year were unprecedentedly large.
At $50 a bale, cotton is a profitable crop. During the week
the South has sold more or less. Speculation hesitates.
Large Wall Street bulls late in the week sold heavily. Today prices were irregular, advancing, then receding, though
there were very heavy rams in the Eastern and Central sections of the belt. Spot cotton ended at 10.85c. for middling
uplands, an advance for the week of 30 points.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Mch. 23 to Mch. 29Middling uplands
Sat.
10.65
Mon. Tues.
10.60 10.60
Wed. Thurs. Fri.
10.85 10.85 10.85
NEW YORK QUOTATIONS FOR 32 YEARS.
The quotations for middling upland at New York on
March 29 for each of the past 32 years have been as follows:
1912_o
1911
1910
1909
1908
1907
1906
1905
10.85
14.45
15.30
9.85
10.40
10.95
11.70
8.05
1904_c
1903
1902
1901
1900
1899
1898
1897
14.90
10.05
8.94
8.19
9.88
6.31
6.12
7.31
1896_c
1895
8194
1893
1892
1891
1890
1889
7.88
6.31
7.69
8.62
6.69
9.00
11.44
10.19
1888_c
1887
1888
1885
1884
1883
1882
1881
9.94
10.50
9.12
11.19
11.38
10.06
12.12
10.69
924
THE CHRONICLE
(VoL. Lxxxxiv.
FUTURES.-The highest, lowest and closing prices at
AT THE INTERIOR TOWNS the movement-that is,
New York the past week have been as follows:
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items
21 21 ;s1 21 gl PI 21 PI 21 21 21 PI for
the corresponding period for the previous year-is set
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THE VISIBLE SUPPLY OF COTTON to-night, as made
made up by cable and telegraph, is as follows. Foreign
01...>2'g4
,
1 Re42E000'
stocks, as well as the afloat, are this week's returns, and
0 0
al"8AZTI.
,28664845.41mx4
consequently all foreign figures are brought down to Thursday evening. But to make the total the complete figures
The above totals show that the interior
have defor to-night (Friday), we add the item of exports from the creased during the week 44,775 bales and arestocks
to-night 38,508
United States, including in it the exports of Friday only.
bales less than at the same time last year. The receipts
March 291912.
1911.
at all towns have been 48,977 bales more than the same
1910.
1909.
Stock at Liverpool
bales.1,275,000 1,187,000 832,000 1,382,000
week last year.
Stock at London
3,000
7,000
5,000
9,000
Stock at Manchester
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Total Continental stocks
98,000
113,000
1,376,000 1,307,000
7,000
4,000
650,000 279,000
352,000 329,000
4,000
2,000
24,000
21,000
41,000 . 48,000
5,000
4,000
58,000
84,000
895,000 1,475,000
11,000
7,000
321,000 498,000
361,000 350,000
3,000
4,000
8,000
45,000
53,000
38,000
4,000
2,000
1,083,000
687,000
757,000 948,000
Total European stocks
2,459,000 1,994,000 1,652,000 2,423,000
India cotton afloat for Europe_ _ _
71,000
146,000 233,000
117,000
Amer. cotton afloat for Europe
647,813 312,008 310,923 315,237
Egypt,Brazil,&c.,afit.for Europe_
43,000
33,000
19,000
29,000
Stock In Alexandria, Egypt
252,000 218,000
143,000 284,000
Stock in Bombay, India
665,000
544,000 760,000 465,000
Stock in U. S. ports
993,368
530,836 537,056 606,614
Stock in U. S. interior towns_
443,917 482,425 500,886 649,365
U. S. exports to-day
35,761
10,013
11,668
3,221
Total visible supply
5,610,859 4,270,282 4,167,533 4,892,437
Of the above, totals of American and other descriptions are as follows:
AmericanLiverpool stock
bales.1,162,000 1,069,000 758,000 1,257,000
Manchester stock
67,000
94,000
68,000
68,000
Continental stock
1,049,000 646,000 701,000 912,000
American afloat for Europe
647,813 312,008 310,923 315,237
U. S. port stocks
993,388
530,836
537,056 606,614
U.S. interior stocks
443,917 482,425
500,886 649,365
U. S. exports to-day
35,761
10,013
11,668
3,221
---Total American
4,398,859 3,144,282 2,867,533 3,811,437
East Indian, Brazil, &c.
Liverpool stock
113,000
118,000
74,000
125,000
London stock
3,000
7,000
5,000
9,000
Manchester stock
31,000
19,000
10,000
16,000
Continental stock
34,000
41,000
56,000
36,000
India afloat for Europe
71,000
146,000 233,000
117,000
Egypt, Brazil, &o., afloat
43,000
33,000
19,000
29,000
Stock in Alexandria, Egypt
252,000 218,000
143,000 284,000
Stock in Bombay, India
665,000
544,000 760,000 465,000
Total East India, &a
1,212,000 1,126,000 1,300,000 1,081,000
Total American
4,398,859 3,144,282 2,867,533 3,811,437
Total visible supply
5,610,859 4,270,282 4,167,533 4,892,437
Middling Upland, Liverpool
6.17d.
7.70d.
7.96d.
5.13d.
Middling Upland, New York_ _ _ - 10.85c.
14.400.
14.950,
9.95o.
Egypt, Good Brown, Liverpool
03d.
10 Md.16 11-16d. 8 546d.
Peruvian, Rough Good, Liverpool 9.10d.
11.25d.
11.00d.
7.75d.
Broach, Fine, Liverpool
5 hd. 7 7-16d. 7 9-16d. 4 1546d.
Tinnevelly, Good, Liverpool__,_ 5 11-16d. 7 5-16d.
7 Md.
4 Md.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for
the week and since Sept. 1 in the last two years are as follows:
-1011-12----------1910-11---Since
Since
Week. Sept. 1.
Week. Sept. 1.
24,402
527,492
8,124 442,685
1,597
52,875
4,384
186,512
654
5,587_
25,830
3,897 130,334
113,815
4,548
104,879
420
81,181
5,693
171,280
1,962
155,257
10,784
358,879
3,985
155,465
March 29ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, ecc
2-i6- 2
Total gross overland
Deduct shipmentsOverland to N. Y., Boston, &c
Between interior towns
Inland, &c., form South
51,575 1,351,326
21,437 1,140,745
7,130
1,648
1,127
160,753
70,355
30,927
9,905
262,035
3,926
234,946
Leaving total net overland'
.41,670 1,080,291
•Inclu :ing movement by rail to Canada.
17,511
905,799
Totalto be deducted
1,675
1,364
887
146,040
51,988
36,918
The foregoing shows the week's net overland movement
has been 41,670 bales, against 17,511 bales for the week last
year, and that for the season to date the aggregate net overland exhibits an increase over a year ago of 183,492 bales.
-1911-12-- -1910 11---In Sight and Spinners'
Since
Since
Week.
Takings.
Sept. 1.
Week.
Sept. 1.
Receipts at ports to Mch. 29
140,646 10,549,161
60,182 7,853,552
Net overland to Mch. 29
41,670 1,089,291
17,511
905,799
South'n consumption to Mch. 29_ 56,000 1,508,000
49,000 1,417,000
Total marketed
Interior stocks in excess
238,316 13,140,452
.44,775
343,480
Came into sight during week__ _193,541
Total in sight Mch. 29
13,489,932
North'n spinn's takings to 'Afeh. 29 66,183
126,693 10,176,351
431,647
*23,211
103,482
1,884,069
10,607,998
49,497
1,791,067
Decrease during week.
Movement into sight in previous years:
Week1910-April 1
1909-April 2
1908-April 4
Bales.
Since Sept. 1-
Bales.
9,105,715
124,866 1909-10-April 1
Continental imports for the past week have been 292,000
11,743,547
125,325 1908-09-April 2
bales.
9,891,604
144,647 1907-08-April 4
The above figures for 1911 show a decrease from last week
QUOTATIONS FOR MIDDLING COTTON AT OTHER
of 136,629 bales,a gain of 1,340,577 bales over 1911,an in- MARKETS.-Below are the closing quotations of middling
crease of 1,443,326 bales over 1910 and a gain of 718,422 bales cotton at Southern and other principal cotton markets for
over 1909.
each day of the week.
Week ending
March 29.
Galveston
New Orleans.._ _
Mobile
Savannah
Charleston
Wilmington_ _- Norfolk
Baltimore
Philadelphia
Augusta
Memphis
St. Louis
Houston
Little Rock_ _ _ _
Closing Quotations for Middling Cotton onSarday. Monday. Tuesday.'Wed'day. Thursd'y. Friday.
10 15-16
10%
10 7-16
10 5-16
10%
10 5-16
10%
10%
10.90
10j
10%
10%
11
10%
10 15-16
10 11-16
10 7-16
10 5-16
10%
10 5-16
10 %
10,'
10.85
10I
10%
10%
10%
10 %
11
10'4
10 7-16
10 5-16
10 %
10 5-16
10 %
10%
10.85
10%
10%
10%
11
10 %
11 1-16
10%
10%
10 5-16
10%
10 7-16
10%
103i
11.10
10%
11
10%
11
10'%
NEW ORLEANS OPTION MARKET.-The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sai'daV, Monday, Tuesday, Wed'dav, Tlaursd'y, Friday,
Mch. 23. Mch. 25. Mch. 26. Mch. 27. Mch. 28. Meta. 29.
MarchRange
Closing
AprilRange
Closing
Mai/Range
Closing
JuneRange
Closing
JulyRange
Closing
AugustRange
Closing
SeptemberRange
Closing
OctoberRange
Closing
DecemberRange
Closing
JanuaryRange
Closing
ToneSpot
Options
10.84-.90 10.81-.86 10.85-.88 10.94-.03 11.03-.08
10.86-.88 10.85-.86 10.95 -11.01-.02 11.00 -- S -- @ - 11.08 -11.00 - @ -- @ 10.86 - 10.85 -10.93 - 11.00 - 10.98 -10.98 10.79-.86 10.74-.82 10.74-.89 10.82-.98 10.95-.05 10.94-.0$
10.80-.81 10.77-.78 10.87-.88 10.96-.97 10.95-.96 10.96-.97
- ®-@10.81 - 10-.77 -10.87 -10.95 - 10-.95 - 10-.96 10.80-.87 10.74-.83 10.76-.90 10.84-.98 10.95-.05 10.95-.05
10.81-.82 10.79-.80 10.88-.89 10.96-.97 10.95-.96 10.97-.98
10.87 -@10.69-.71 10-.67 - 10-.78 -10.89 - 10-.87 -10.86 -@- @ -- ®10.68-.68 10.64 -10-.75-.77 10.83 - 10.81 -10.86 10.63-.68 10.59-.66 10.61-.73 10.68-.81 10.77-.86 10.76-.84
10.63-.64 10.62-.63 10.72-.73 10.79-.80 10.77-.78 10.79-.80
10.64
10.62-.73 10.69-.80 10.75-.85 10.75-.83
10.64-.65 10.62-.63 10.72-.73 10.78-.79 10.76-.77 10.77-.78
10.77-.82 10.79-.84 10.79-.84
® .66
10.66-.68 10.64-.66 10-.74-.76 10.80-.82 10.78-.80 10.80-.82
Steady. Steady. Steady. Steady. Steady. Steady.
Steady. Steady. Steady. Steady. Steady. Steady.
NEW ENGLAND MILL SITUATION.-As far as Fall
River is concerned, all danger of a strike was averted last
Friday when the Manufacturers' Association, following the
lead of Mr. M. C. D. Borden, of the Fall River Iron Works
mills, offered an advance in wages of 10% which was immediately accepted. The action at Fall iiver was followed
quite generally by the mills in Rhode Island granting advances of from 5 to 10%, and on Saturday night several
thousand operatives in Connecticut received notification of
increases in wages of 5% and up, to go into effect April 1.
Some 1,200 mill operatives at Lowell, Mass., dissatisfied with
the increase in wages offered to them, struck on Monday last,
and a general strike involving some 22,000 hands was scheduled for Tuesday morning. But instead of a strike a lockout
was faced, the mill-owners agreeing to keep the establishmentsclosed until the operatives are willing to accept a 732%
increase which was to have gone into effect this week. The
manufacturers assert that although 90% of the operatives
now locked out desire to work, they were obliged to close the
mills as a matter of protection. The outlook this evening is
said to be favorable for an early settlement of the trouble.
At New Bedford, also, there wa unrest among the cottonmill operatives, who offered a 5% increase in wages, had
demanded 10%. This latter was conceded on Thursday.
WEATHER REPORTS BY TELEGRAPH.-Advices to
us by telegraph this evening from the South denote that rain
has been quite general during the week and rather heavy at
some points,serving to hinder farm work. The rains are
reported beneficial in Texas, putting the ground in good
condition, and 80% of the ploughing for cotton is estimated
to have been completed. Our Helena, Ark., correspondent
reports land outside the levee overflowed and that the prospects are for very high water.
Galveston, Tex.-Beneficial rains have fallen in Texas and
the ground is in good condition. It is estimated that 80%
of the land to be planted in cotton this year has been plowed.
It has rained on three days during the week, the rainfall
reaching thirty-six hundredths of an inch. Average thermometer 58, highest 79, and lowest 44.
Abilene, Tex.-We have had light rain on three days of the
past week, the rainfall reaching sixty-nine hundredths of an
inch. Minimum thermometer 32.
Palestine, Tex.-There has been rain on three days during
the week, the rainfall being one inch and fifty-four hundredths. Lowest thermometer 36.
San Antonio, Tex.-Rain has fallen on two days of the
week, the rainfall reaching sixteen hundredths of an inch.
Minimum thermometer 40.
Taylor, Tex.-There has been rain on two days the past
week, the rainfall reaching fifty-four hundredths of an inch.
Lowest thermometer 36.
New Orleans.-There has been rain on four days of the
past week, and the rainfall has been four inches and sixtythree hundredths. Thermometer has averaged 61.
Shreveport, La.-We have had rain on four days of the
week, the rainfall having reached four inches and nineteen
hundredths. The thermometer has ranged from 34 to 74.
925
THE CHRONICLE
MAIL 30 1912.]
Vicksburg, Miss.-There has been rain on five days the
past week, the rainfall reaching three inches and seventyseven hundredths. The thermometer has averaged 53,
ranging from 38 to 71.
Little Rock, Ark.-Rain has fallen on four days ofthe week,
the rainfall reaching two inches and fourteen hundredths.
The thermometer has ranged from 32 to 68, averaging 50. -.4
' Memphis, Tenn.-The river is 38.1 feet on the gauge and
rising. There has been rain on four days the past week, to
the extent of four inches and forty-seven hundredths. The
thermometer has ranged from 31 to 67, averaging 47.
Helena, Ark.-Farmers are gloomy. The river is overflowing. All land outside the levee and the prospects are
for very high water. Rain has fallen heavily on four days
of the week, the rainfall reaching six inches and ten hundredths. The thermometer has ranged from 31 to 65,
averaging 46.4.
Mobile, Ala.-There has been rain on five days of the past
week. The thermometer ranged from 45 to 75, averaging 61.
Montgomery, Ala.-It has rained on four days during the
week, the rainfall reaching two inches and fifty-nine hundredths. Mean thermometer 58, highest 76, lowest 37.
Selma_, Ala.-We have had rain on four days of the past
week, the rainfall reaching four inches. The thermometer
has ranged from 38 to 74, averaging 55.
Madison, Fla.-There has been rain on two days the past
week, the rainfall reaching one inch and thirty hundredths.
The thermometer has ranged from 45 to 83, averaging 64.
Savannah, Ga.-There has been rain on one day the past
week to the extent of ninety-one hundredths of an inch. The
thermometer has averaged 62, ranging from 46 to 82.
Charleston, S. C.-We have had rain on one day of the past
week, the rainfall reaching forty-nine hundredths of an inch.
The thermometer has ranged from 49 to 78, averaging 64.
Charlotte, N. C.-There has been rain the past week to the
extent of one inch and thirty-eight hundredths. The thermometer has ranged from 34 to 68, averaging 51.
DOMESTIC EXPORTS OF COTTON MANUFACTURES
-We give below a statement showing the exports of domestic
cotton manufactures for January and for the seven months
ended Jan. 31 1912, and for purposes of comparison like
figures for the corresponding periods of the previous year
are also presented:
Quantities of Manufactures of Cotton Month ending Jan. 31. 7 Months ending Jan.81.
(colored and uncolored).
1912.
1911.
1911-12,
Exported to1910-11.
United Kingdom
Canada
Central American States and British
Honduras
Mexico
Cuba
Haiti
Other West Indies and Bermuda _
Brazil
Chili
Colombia
Other South America
Aden
China Empire
British East Indies
British Oceania
Philippine Islands
Other Asia and Oceania _
Other countries
534,810
1,695,329
148,497
852,347
1,840,154
8,857,765
917,024
6,119,223
3,068,619 3,038,679 24,095,430 20,647,180
240,340
105,986 1,085,265
978,547
2,405,223 1,506,915 16,227,832 9,994,771
2,384,946 1
518,261,908 1
2,828,868 54,766,563 117,138,260 127,578,534
131,065
94,424
763.814 1,181,886
517,403
875,660 5,079,744 6,337,699
2,018,245 1,803,322 11,026,753 9,436,407
1,747,125 1,588,002 10,760,827 8,552,336
2,072,000 1,165,250 14,967,950 8,162,705
4,495,875 5,667,644 63,891,561 35,639,626
1,029,408
181,567 6,115,090 3,258,159
722,193 5,561,504 5,559,428
762,425
4,932,661 6,230,110 36,245,803 33,529,369
195,406 1,911,884 1.991,369
146,791
478,928 9,268,731 7,046,950
1,019,404
32,030,528 28,421,493 253,100,275 186,881,208
$2,106,648 82,249,636 816,973,796 $13,223,852
$.0658
1.0671
$.0708
5.0765
Total yards of above
Total values of above
Value per yard
Value of Other Manufactures of
CoUon Exported.
Clothing and other wearing apparel:
Knit goods
All other
$104,953
531,968
8127,558 $1,066,451 31,005,481
401,681 3,495,049 2,882,415
Total
1636,921
$529,239 $9,561,500 $3.887.896
Waste, cotton
Yam
All other
$138,943
38,223
452,553
$263,275 31,748,097 12,004,352
359,436
48,867
348,225
452,379 3,429,459 2,920,976
Total manufactures of ____
33.373.288 33.543.396 $27.061.077 $22.396.512
INDIA COTTON MOVEMENT FROM ALL PORTS. •
1911-12.
Mch. 28.
Receipts atWeek.
Since
Sept.l.
1910-11.
1909-10.
Since
Week. Sept. 1.
Since
Week. 1Sept. 1.
*73,000 •1.639,000 79,000 1,594,000 102,000 2,397,000
Bombay
For the Week.
Exports
from-
Since September 1.
Great
Great Conti- Jo pa"
Britain. nent. &China Total. Britain.
Bombay1911-12_
1910-11_
1909-10._
Calcutta1911-12_
1910-11_ _
1909-10._
Madras1911-12_
1910-11._
1909-10_
,All others1911-12..
1910-11_
1909-10...
7,000 10,111
36,000 66,000
116,111
53,
2-Ao
7,
1:660
3,000
3,000
5,000
9,000
Continets.et.fcgtin
Total.
9,000 199,00 526,000 679,000
25,000 547,000 352,000 924,000
60,000 652,000 568,0001.280,000
2,000
2,000
3,000
8,000
21,000
25,000
2,000
13,000
25,000
12,000
36,000
53,000
2,000
8,000
9,000
5,000
18,000
9,000
8001
51
1,0001
7,800
26,005
14,000
5,000 52,000
27,000 158,000
17,000 131,000
io,000l 73,000
1,3001 186,300
2,0001 150,000
Total all6,000 7,000 13,000
13,000 214,000 544,8001 771,800
1911-12..
2,000 34,000 36,000 72,000 62,000 744,000 366,305 1.172,305
1910-11
100940.. 7,000 68,000 53,000 128,0
84,000 817,00a 596.000 1,997,000
* Not Including 7,000 bales American for the week and 90,000 bales for
season erroneously included by Bombay authorities.
926
THE CHRONICLE
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
1911-12.
Week.
1910-11.
Season.
Week.
Sea on.
Visible supply Mch. 22
5,747,488
4,367,216.
Visible supply Sept. 1
1,603,418
1 1,495,514
American in sight to Mch. 29.._ _ 193,541 13,489,932 103,482 19,607,908
Bombay receipts to Mch. 28_
73,000
639,000
79,000 1,594,000
Other India ship'ts to Mch. 28_ _
3,000
92,800
6,000
248,305
Alexandria receipts to Mch.
13,300
933,000
9,000
975,000
'Other supply to Mch. 27x
1,000
184,000
4,000
216,000
Total supply
DeductVisible supply Mch. 29
6,031,329 17,942,150 4,568,698 15,136,817
5,610,859 5,610,859 4,270,282 .4,170,282
Total takings to Mch. 29
420,470 12,331,291 298,416 10,866,535
Of which American
339,170 9,943,491 185,4161 8,257,230
Of which other
81,300 2,387,800 113,0001 2,609,305
83,000 bales American cotton erroneously included deducted.
x Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
March 27.
Receipts (cantars)This week
Since Sept. 1
1911-12.
1910-11.
1909-10.
100,000
9,997,871
60,000
7,309,806
6,000
4,841,631
This Since
This Since
This Since
Week. Sept. 1. Week. Sept. 1. Week. Sept. 1.
Exports (bales)-
To Liverpool
1,250 161,873
To Manchester
4,000 188,961
To Continent and India_ _ 4,000 275,266
To America
1,750 76,449
Total exports
3,000 lgg,r8
1
2,250 183,074
6,250 185,408
4,750 308,466
1,750 95,431
3,250 241,276
700 56,086
11,000 702,549 15,000 772,379
6,950 538,759
MANCHESTER MARKET.-Our report received by cable
to-night from Manchester states that the market continues
,strong for yarns and firm for shirtings. Merchants are not
willing to pay present prices. We give the prices for today below and leave those for previous weeks of this and
last year for comparison.
1912.
323 Cop
Twist.
d.
323 Cop
Twist.
s. d. d. d.
Feb.
9 834
09 13-16 5 635411
16 9
0 10 5 735011
23 9
0 10 5 735011
Mar.
1 815-1654 10 ^5. 735011
8 9 1-160 1034 5 9 011
15 9 3-16010 3-16 5 1035011
22 9 3-16010 3-16 5 1054(511
29 9 5-160 1034 6 0 011
834 lbs. Shirt- Cot-n
ings, common Mid.
to finest.
Upl-s
d. s. d.
s. 0 d.
0
1
1
5.00 s074 0 1134 5 8 011 1
7.77
5.85 1034 0 11% 5 735011 0
7.56
5.93 107-160 1134 5 7 0101035 7..51
1
235
234
234
3
5.91 107-1654
6.03 1034 0
6.18 1034 0
6.11 1034 0
6.17 1034 0
11% 5
1134 5
1134 5
1135 5
1134 5
7 0101034
63501010
11 011 0
11 011 0
11 011 0
7.64
7.66
7,75
7.73
7.70
Saturday.
Monday.
Tuesday.
Quiet.
Quiet.
Wednesday Thursday.
Moderate
demand,
Friday.
Fair
business
doing.
A fair
business
doing.
Mi .Upl' r
6.11
6.16
6.12
6.16
6.17
8.17
Sales
Spec.&exp.
9,000
1,000
6,000
500
6,000
500
7,000
500
8,000
500
8,000
500
Futures. Steady at Steady at
Market 1 2 pts.
3 pts.
°pole 5 a vance. a vance.
Steady at
1 point
decline,
Steady at
2 pts.
advance,
Steady at
235 pts.
advance.
Steady at
2 pts.
ecline.
Market, 1 Quiet at Barely st'y Steady at Very ste'dy Barely st'y Steady at
4
} 3555134 at 13602 1(3134 pts. at 20335 at 20235
P. M. 1 pts. adv, pts. adv, advance, pts, adv. pts. adv. 1350254
pts. adv.
The prices for futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 1001hs.
Thus: 5 86 means 5 86-1004.
Mch. 23
Sat.
I Mon.
Tues.
Wed. I Thurs.
Fri.
to
Mch. 29. 123.4 1234 1234 4 1254 4 1234 4 1234'
4 1234 4
P.m. pan. pan. P.m. P.m p.m. p.m. p.m. p.m. p.m. p.m. p.m.
March
5 8634 9235 88 8834 89 915492 ,95 94 94 35 96%
Mch.-Apr.
5 86% 9235 88 88 89 91 92 95 94 94 A 96A
Apr.-May.
586 91;5 87548754 885490 91 94 93 93 95
May-June
5 8535 91 A 87 87 88 9035 90 A 93 A 93 93 95
June-July
5 8435 90 A 86 86 87 89 8935 0254 92 92 94
July-Aug_
5 8335 89 85 85 86 35 88 8834 9134 91
Aug -Sep..
5 7935 8535 8134 8154 8254 8435 85 88 8734 9
87
1 35 9
89
3 34
Sep.-Oct _
5 7655 82 54 79 78 79 A 81 A 82 8435 8434 94 86
001.-Nov.
5 73 A 79 A 75 75 763479 79 8135 81 A 8134 83 A
Nov.-Dec.
571 77;5 73 73 74 77 77 79 A 79 A 7934 81 35
Dec.-Jan _
5 70 A 77 7235 7254 74 7634 7654 79 79 79 81
Jan.-Feb _
5 7054,77 7234 7254 74 7654 7634 79 79 79 81
Feb.-Mch.
5 7135 78 73 35 73 A 75 7735 7754 80 80 80 82
Mch.-Apr.
72 7834 74 74 7535 785478 8034 8035 8035 82;5
MARKET AND SALES AT NEW YORK.
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
1911.
83 lbs. Shirt- Cot-n
ings, common Mid.
to finest.
Upl-s
d. s. d.
Spot.
Market, 1
Fair
12:15 } business
P. M. J
doing,
[VoL. Lxxxxxv.
Saturday__ _
Monday..__ _
Tuesday __ _
Wednesday_
Thursday _ _
Friday
Spot Market
Closed.
Futures
Market
Closed.
Quiet, 10 pts. adv_ _
Quiet, 5 pts. deo_
Quiet
Quiet, 25 pts. adv.. _
Quiet
Quiet
Steady
Barely steady
Firm
Very steady......
Barely steady
Barely steady_ -
SALES.
Spot. Contect Total.
Total_ _ _ _
500
1,i(55
-
500
1,700
"goo
3,200
1,400
800
3,200
1,900 _5,700
7,600
1,
,
1615
BREADSTUFFS.
Friday Night, March 29 1912.
Flour has been in moderate demand at generally steady
prices. At the Northwest the sales have been smaller than
recently. Buyers have shown a disposition to purchase on
the old cautious scale. Directions on all old orders have been
Total bales. less free. Only small lots have been sold for export to EngNEW YORK-To Liverpool-Mch. 23-Cymric, 1,849 upland, 100
land and Holland, generally first and second clears. Many
. Sea Island__ _Mch. 27-Celtic, 4,175
6,124 of the mills at Minneapolis have sold
their production of
To Bremen-Mch. 22-George Washington, 500
500
To Hamburg-Mch. 23-Waldersee, 554
554 fancy and first clears ahead, and these grades are firmly held.
To Antwerp-Mch. 22-Lapland, 300
300 On the whole, the market may be described as a waiting one.
To Libau-Mch. 23-Kursk, 150
150
To Genoa-Mch. 26-Taormina, 274
274 At present there seems to be no general confidence in any perTo Napies-Mch. 22-Perugia, 801_ _ _Mch.26-Taormina,639 1,240 manent advance in wheat, if, indeed, there is any general
To Piraeus-Mch. 25-ThemIstocies, 1,600
1,600
belief that present values of wheat will be long maintained.
GALVESTON-To Manchester-Mch.25-Esperanza de Larrinaga,
16,032
16,032 The production at Minneapolis, Duluth and Milwaukee durTo Antwerp-Mch. 26--Skipton Castle, 2,511
2,511
To Ghent-Mch. 26-Skipton Castle, 3,599
3,599 ing the past week was 461,005 bbls, against 346,535 bbls, in
9,583 the previous week and 322,380 for the same week last year.
To Genoa-Mch. 22-Aspromonte, 9,583
TEXAS CITY-To Bremen-Mch. 23-Nembe, 9,652
9,652
Wheat has advanced. This was largely in sympathy with
NEW ORLEANS-To Liverpool-Mch. 28-Asian, 7,400; Chancellor, 2,500_ Mch. 29-Civilian, 16,000
25,900 the rise in corn. It is true, however, that some falling off in
To Belfast-Mch. 26-Ramore Head, 3,985
3,985
the receipts has not been without a certain very plain influTo Rotterdam-Mch. 22-Liv,100.... Mch._
26-Adelheld Menzel!, 210; Manchester Spinner, 1,033
1,343 ence. Then, too,foreign markets have advanced. MinneapTo Antwerp-Mch. 27-Priestfleid, 500
500 olis has reported a good cash demand. Some
reports of
To Genoa-Mch. 28-Aspromonte, 2,085
2,085
SAVANNAH-To Liverpool-Mch. 28-Pontiac, 2,502
2,502 winter killing have been received from parts of the West,
To Bremen-Mch. 23-Manchester Inventor, 2,873 __ _Mch. 28
-Belle of Spain, 6,145; Elswick Manor, 6,442; Haardt, 3,811 19,271 notably from Illinois and Indiana. The Minneapolis stock
To Hamburg-Mch. 22-Kronprinz Olay, 3,202__ _Moll. 23has been steadily decreasing. Some export business in
Manchester Inventor, 2,587
5,789 No. 2 red wheat has been done here with Antwerp, and the
To Rotterdam-Mch. 28-Elswick Manor, 350
350
To Bombay-Mch. 28-Pontiac, 500
500 fact has attracted considerable attention. The sales, howBRUNSWICK-To Bremen-Mch. 26-Drumcliff, 7,282
7,282 ever, were apparently not much over 80,000 bushels. PerCHARLESTON-To Bremen-Mch. 23-Antigua, 8,001
8,001
WILMINGTON-To Liverpool-Mch. 22-Crosshill, 17,872
17,872 haps the activity and rising tendency of the stock market has
BOSTON-To Liverpool-Mch. 25-Cestrian, 1,462_ _ _Mch. 26occasionally had some effect. But, after all, there has been
Laconia, 1,003
2,465
To Manchester-Mch. 23-Caledonian, 1,001
1,001 a certain sluggishness in the movement of prices which has
BALTIMORE-To Bremen-Mch. 23-Main, 646
646 indicated an indifference on the part of the outside public to
PHILADELPHIA-To London-Mch. 11-Austriana, 400
400
• To Manchester-Mch. 18-Manchester Point, 504
504 trading in wheat. Also it is worthy of note that the world's
SAN FRANCISCO-To Japan-Mch. 20-Manchuria, 7,894
7,894 stock has increased for the week 2,676,000 bushels, against a
SEATTLE-To Japan-Mch. 26-Sado Maru, 373
373 decrease
for the same week last year of 1,299,000 bushels.
:Total
160,782 The world's stock of American wheat is 116,642,000 bushels,
LIVERPOOL.-By cable from Liverpool we have the fol- against 66,927,000 a year ago and only 55,637,000 two years
lowing statement of the week's sales, stocks, &c., at that port: ago. Herein we get a pretty clear notion as to why the world
at large is indifferent about buying wheat freely at the present
Mch. 8. Mch. 15. MM.22. Mch. 29.
Sales of the week
45,000 level of prices, especially when it is remembered that No. 2
bales_
43,000
44,000
52,000
Of which speculators took__
1,002
1,000
1,000
3,000
red is 14 cents a bushel higher than at this time last year.
Of which exporters took.... _
2,000
3,000
3,000
1,000
Sales, American
41,000 We have the seeming anomaly, then, of big supplies coinci40,000
38,000
49,000
Actual export
11,000
22,000
15,000
12,000
dent with big prices. On the other hand, however, it is
Forwarded
77,000
92,000
98,000
82,000
Total stock-Estimated
1,174,0001,166,000 1,196,000 1,275,000 worth noting that stocks of European wheat are smaller
Of which American
1,067,000 1,055,000 1,092,000 1,162,000 than for several
years past, i. e., 81,000,000 bushels,
Total imports of the week
175,000
167,000
141,000
141,000
year ago and 95,300,000 at
Of which American
157,000
144,000 against 113,840,000 a
125,000
68,000
Amount afloat
338,000
344,000 this time in 1910.
457,000
413,000
Yet the fact remains that world's
L• Of whichiAmerican
292,000
309,000
409,000
374,000
supplies, counting European and American wheat,
The tone of the Liverpool market for spots and futures show the large aggregate of 197,642,000 bushels, against
-each day of the past week and the daily closing glees of 180,111,000 last year and 149,937,000 two years ago. So
spot cotton have been as follows:
,that, in'one way or:another, the world is pretty well supplied
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
Taached 160,782 bales. The shipments in detail, as made
lip from mail and telegraphic returns, are as follows:
MAR. 30 1912.]
927
THE CHRONICLE
with wheat. In the meantime, too, Argentine shipments
begin to show a noteworthy increase. Last week they were
4,912,000, against 3,712,000 in the previous week. The
total world's shipments ran up to 12,288,000 bush., against
10,768,000 in the previous week. European crop reports,
moreover, are in the main favorable, and, as near as can be
judged, the winter-wheat crop in this country is doing very
well, though, as usual, there has been some winter killing,
the less surprising this year, as the winter has been exceptionally severe. To-day prices advanced,but soon reacted
on liquidation. Crop reports from the Southwest are favorable. Corn has more speculative attention than wheat.
The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years has been:
Receipts at-
Flour.
Wheat.
I
Corn.
Oats.
Barley.
Rye.
bbls.1961bs. bush. 60 lbs. bush. 56 lbs. bush. 32 tbs. bush.481b5. bu.56 lbs.
32,000
252,000
Chicago
288,000 2,361,750 1,774,800
133,254
48,400
141,700
232,200
83,780
86,250
Milwaukee..
9,800
2,873
18,088
80,987
208,590
Duluth
14,525
31,350
114,260
218,870
60,040
Minneapolis
1,507,440
5,000
25,500
145,100
44,000
Toledo
27,216
59,530
Detroit
14,000
7,405
712
675
51,687
32,419
Cleveland
7,125
805
YORK.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW Fri.
1,100
4,800
287,300
519,910
St. Louis_
126,000
43,350
Sat. Mon. Tues. Wed. Thurs.
3,600
55,800
111,700
282,410
Peoria
9,000
47,155
1083%
108
1073%
1063%
1083%
1073%
No. 2 red
74,800
202,800
75,600
Kansas City.
108 X 108
108
108
1073% 108
May delivery in elevator
104 A 1033% 1043% 1043% 1044 1033% Total wk.'12
July delivery in elevator
587,323 125,035
256,294 2,366,005 3,797,739 2,885,060
950,357 110,186
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
274,266 2,356,680 4,893,147 2,377,312
Same wk.'11
77,551
Sat. Mon. Tues. Wed. Thurs. Fri.
Same wk.'10
381,985 3,192,985 2,845,395 3,337,937 1,777,826
1034 1023% 1033% 103% 1033% 1023%
May delivery in elevator
98
98
98
98
98 % 98
Since Aug. 1
July delivery in elevator
983%
96
96
96
95
1911-12_ __ 8,294,389 196,221,486 143,639,054 105,849,584 55,331,599 7,010,400
September delivery in elevator_ __ _ 96
1910-11__ 10,935,977 172,494,930 211,674,923 136,791,303 53,135,734,4,344,149
Indian corn has advanced, owing to unsettled or rainy
1909-10.._ 15,054,918 206,721,333 127,520,167 445,145,400 63,419,95115,620,592
weather, decreasing receipts and a good cash demand, not
Total receipts of flour and grain at the seaboard ports for
only from the Southwest but from other parts of the country.
March 23 1912 follow:
Cash prices have risen sharply, coincident with an increasing the week ended Flour,
Rye;
Corn,
Oats, Barley,
Wheat,
demand and diminishing receipts. St. Louis shorts have
bush.
bush,
bush.
bush,
bush,
bbl.s.
Receipts al9,200
452,400
175,300
457,500 61,581
74,250
been covering in May. In fact, at Chicago and elsewhere New York
1,000
128
224,435
109,035
42,630
97.016
Boston
there has been considerable liquidation of short accounts. Portland,
19,000
20,000
657,000
Me
20,251
118,406
47,499
191,299
The other day one operator in Chicago bought half a million Philadelphia
11,127
201,806
47,850
7,363
38,954
bushels. It is said that some corn was sold at Chicago to go Baltimore
69,000
4,800
116,400
Orleans *...... 24,110
to the Northwest. It is a circumstance not without interest New
714
Norfolk
2,000
21,000
that May and cash corn at Chicago have been lower than Galveston
21,000
7,000
current prices at the Southwest. In other words, it looks Mobile
6,900
10,989
50,710
68,646
11,692
Montreal
very much as though the feeding demand by reason of un21,327
68,609
913,375
574,731
1,843,050
370,894
1912
week
Total
The
prices.
bolster
had
to
weather
continued
settled or cold
11912 3,887,170 13,911,501 20,033,488 8,528,829 2253,421 157,218
16,757
586,506 193,881
979,887
world's shipments of corn last week were only 3,001,000 SInceJan.
362,894 1,173,278
Week 1911
bushels, against 4,728,000 bushels in the previous week. SinceJan. 11911_4,295,320 11,398,442 32,360,825 10,280,369 1458,787 177,630
week
the
for
surplus
it
that
the
ports
exportable
is
said
hand,
other
seaboard
But, on the
The exports from the several
of Argentine this year will reach the unprecedented total of ending March 23 are shown in the annexed statement:
visible
American
the
Rye, Barley, Peas,
Furthermore
bushels.
Oats,
Corn, Flour,
180,000,000
Wheat,
bush.
bush.
bush,
bush.
bbls.
bush.
bush.
Exports fromsupply last week increased 544,000 bushels, against a de- New
330
675
57,694
73,830
283,644
York
crease for the same time last year of 420,000 bushels. Still, Portland, Me__ 657,000 19,000 20,000
600
4,998
from
17,143
25,815
or
Boston
bushels,
is
only
18,910,000
supply
American
the total
51,000 23,000
Philadelphia
2,000,000 to 7,000,000 bushels smaller than last year and Baltimore
64,000 156,739 3,347
1,000
12,022
51,000
15,500
believed
are
Orleans
reserves
farm
and
New
respectively,
before,
the year
356
Galveston
21,000 7,000
to be smaller than usual, owing to the severe winter, which Mobile
has caused a greatly increased demand for feeding stock.
330
2,275
Total week ____1,339,959 389,712 132,081
4,303
To-day new high-record prices for this season were reached. Week
24,540
970,718 1,603,719 167,153
1911
have
to
said
was
Mr.
Patten
buying.
Country traders were
The destination of these exports for the week and since
entered the market as a buyer. Cash markets were con- July 1 1911 is as below:
150,000
were
sales
cash
the
spicuously strong. At Chicago
-Corn
Wheat
-FLOUT
Since
Since
bushels, taken by Milwaukee and the Southwest. Texas
July 1
Week
1
July
Week
1
July
Week
diminishing.
are
The
receipts
buying.
are
and Minnesota
1911.
1911. Mch. 23.
1911. Mch. 23.
Exports for week and Mch.23.
bush.
Speculation grows more excited.
bush.
bush.
bush.
bbls.
bbls.
Since July 1 toIN NEW YORK.
DAILY CLOSING PRICES OF NO. 2 MIXED CORNWed.
Thurs. Fri.
Sat. Mon. Tues.
nom. nom. nom. nom. nom. nom.
Cash corn
nom. nom.
nom.
nom.
nom.
nom.
elevator
May delivery in
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Fri.
Thurs.
Sat. Mon. Tues. Wed.
733% 74
72 A 72 X 73
72
May delivery in elevator
74
73
%
73
72
733%
723%
July delivery in elevator
73 %
72 A 72 g 73 A 73
September delivery in elevator__ _ _ 72
59,321 3,456,511
15,243 1,412,784
32,548 823,158
23,709 995,139
36,528
407
858 236,657
United Kingdom__
Continent
Sou. & Cent. Amer_
West Indies
Brit. Nor. Am.Cols_
Other Countries _
945,683 39,315,443
371,776 25,369,819
617,022
16,000
15,288
1,500
23,000
87,143 11,950,816
235,341 15,716,732
856,990
3,178
63,550 1,481,628
13,390
500
28,162
132,081 6,910,777 1,334,959 65,340,567 389,712 30,047,718
167,153 6,600,254 970,718 41,150,161 1,603,719 38,205,424
Total
Total 1910-11
The world's shipments of wheat and corn for the week
Oats, like other grain, has advanced. Prices have felt
March 23 1912 and since July 1 1911 and 1910 are shown
bracing
ending
Another
corn.
in
rise
a
of
effect
stimulating
the
factor, however, has been wet or cold weather at the West, in the following:
which has caused a noticeable delay in seeding. Some, inCorn.
Wheat.
deed, have laid more stress on this point than on any other.
1910-11.
1911-12.
1910-11.
1911-12.
Exports.
Also, there has been a firm market for cash oats, with a fair
Since
Since
Since
Week
demand. The receipts, too, have been decreasing. The
Since
Week
July 1.
July 1. Mch. 23. July 1.
Mch. 23. July 1.
American visible supply, it is true, increased 128,000 bush.
Bushels.
last week, against a decrease for the same week last year of
Bushels. Busdels. Bushels.
Bushels. Bushels.
93,385,000 595,000 27,428,000 34,549,000
834,000 bush. This leaves the American visible stock at North Amer. 3,088,000 127,708,000
33,166,000
14,078,000
485,000
161,760,000
62,654,000
464,000
___
25,677,000 bush., or about the same as a year ago, and some Russia
Danube _.._ 1,352,000 59,049,000 74,704,000 1,751,000 59,687,000 20,812,000
239,000 88,619,00G
5,000,000 larger than at this time in 1910. It is a fact, too, Argentina 4,912,000 40,698,000 54,194,000 170,000
Australia. __ 1,464,000 41,412,000 38,512,000
that No. 2 white oats are 23 cents a bush. higher than a year India
33,386,000 34,862,000
632,000
ago. Yet the tone has been very firm, owing to the excellent Oth.countr's 376,000 8,077,000 6,312,000
cash demand, the decreased farm reserves as compared with
Total . 12288000 372084 000 463 720 000 3001.000 120 820 000 158 058 nnn
a year ago, and the fact that there is a noticeable delay in
The quantity of wheat and corn afloat for Europe on dates
planting another crop. To-day oats also made a new high
record, but, like other grain, reacted before the close. The mentioned was as follows:
emphasis
strong cash situation is the point on which special
Corn.
Wheat.
is laid.
--
DAILY CLOSING PRICES OF OATS IN NEW YORK. Frt.
Sat. Mon. Tues. Wed. Thurs.
61
61
60
60
60
59
Standards
61
60
No. 2 white
603% 604 603% 61
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
543%
54 A 54
53 X 54
53
May delivery in elevator
50
50
50 A 50
49
49
July delivery in elevator
43
43
42 X 43
42
42
September delivery in elevator..
The following are closing quotations:
FLOUR
Winter, low grades____$3 50Q$3 75 Kansas straights, sacks $4 8O@$5 00
fi 15 Kansas clears, sacks___ 4 45
4 60
5 00
Winter patents
4 60 City patents
6 70
• 6 40
4 40
Winter straights__
505
25
50
4
4
Rye
00®
4
flour
----clears
Winter
4 15® 4 60
5 25® 5 40 Graham flour
Spring patents
4 70 ® 5 10 Corn meal, kiln dried__ 3 75® ____
Spring straights
4 60 Buckwheat, owt
4 40
2 75@ 2 85
Spring clears
GRAIN.
Corn,
per
Cents.
bushelb.
o.
Wheat, per bushel-f.
No. 2
75
$1 18 A
f.o.b.
N. Spring, No. 1
733%
Steamer
1
133%
_elevator
2
No,
Spring,
N.
No. 3
74
1 073%
elevator
Red winter, No. 2
nye, per bushel112
Hard winter, No. 2
No.
2
Western
95
Cents.
newbushel,
Oats, per
State & Pennsylvania Nominal
60
Standards
$1 22®$1 37
603% Barley-Malting
No. 2 white
593
No. 3 white
United
Kingdom. Continent.
Total.
Bushels. Bushels. Bushels.
Mch.23 1912 30,608,000 15,992,000 46,600,000
Mch. 16 1912._ 28,888,000 14,240,000 43,128,000
Mch. 251911.. 25,144,000 31,896,000 57,040,000
Mch.261910.. 32,720,000 16,880,000 49,600,000
Mch, 19 1910._ 31,760,000 15,440,000 47,200,000
Mch. 27 1909.. _ 32,080,000 21,280,000 53,360,000
United
Kingdom. Continent.
Bushels.
2,652,000
2,881,000
3,545,000
2,890,000
2,720,000
2,635,000
Total.
Bushels. Bushels.
7,701,000 10,353,000
7,327,000 10.208,000
7,064,000 10,609,000
2,805,000 5,695,000
2,975,000 5,695,000
2,635,000 4.270,000
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
:......
seaboard ports March 23 1911, was as follows:
7. .;,14.
r
fintin
CANADIAN GRAIN STOCKS. .
Canadian Bonded Canadian Bonded
Wheat. Wheat. Corn. Oats. Oats. Rye. Barley. Barley.
bush. bush, bush. bush. bush. bush. bush. bush,
92
1
294
23
2,420
10,853
1,582
5,330
5,441
1,505
2,789
6,740
- Canadian Bonded
:
r4
-••
In Thousands.
Montreal
Fort William
afloat
"
Port Arthur
Other Canadian
Total Mch. 23 1912__28,387
Total Mch. 16 1912 __27,561
Total Mch. 25 1911..11,262
Total Mch. 26 1910..10,672
1 7,090
5 6.400
4 6,669
28
297
___..
_
__
92
06
89
48
__
__
928
THE CHRONICLE
UNITED STATES GRAIN STOCKS.
Amer. Bonded Amer. Amer. Bonded
Wheat. Wheat. Corn. Oats. Oats.
bush, bush, bush. bush. bush,
New York
766
550
473
471
100
Boston
291
1
232
1
37
Philadelphia
1
141
63
79 ._
Baltimore
901
58 1,430
230
__
New Orleans
___
9
472
128
Galveston
152
____
14
1,116
Buffalo
____
280
-iii --85
1,056
a at
180
flo .....
1,217
Toledo
__
379
79
___
318
Detroit
__
148
100 ....
afloat.. .._
126 -- --- -- -Chicago
13,605
___ 7,890 3,305
__ __
afloat
"
982
____
50 2,854
Milwaukee
943
__ .._
487
187
Duluth
7,942 4,797
____ 1,483 2;151
••
afloat
579
Minneapolis
18,104
71 1,409
-- -St. Louis
1,715
612
255
Kansas City
3,121
_ _ 1,377
192
Peoria
1
__._
325
291
Indianapolis
452 .._ _
490
30
Omaha
525
____ 1,408 1,546
[VOL.
Lxxxxiv.
feature. During the early part of the current
month there
was a rush to buy and heavy purchases were
made in all
lines. Attention is now to a great extent being
given to
deliveries of goods, the backwardness of which in many
quarters is causing considerable anxiety. Prices continue
firm,
-16 -1
with full values realized, this being particularly
true of
heavy colored cottons, which are selling at advances for
late
-2
.5 -iii -182 delivery, owing to the
fact that mills are sufficiently booked
80
393
_with business to take up their output for two or three
3
months
25
to come. Many of the staple lines of brown sheetings
and
drills,
as
well
as
a
number
of
print-cloth
goods,
very
are
"105
firm,
-Hi
____
due to temporary scarcity. Bleached yarn goods, owing
to
-Ili "128
increasing demand, are displaying an advancing tendency.
129
295 --61
189 -- -- It is reported that sufficient orders on a number of the
- i:i5
679 .._ __ branded lines have been received
to take care of distributers'
7
22 -- --- --- ----- needs for the early fall trade. Staple ginghams are decidedly
-- --- --- -- firm, as the demand is good and deliveries from a number of
__
the Eastern mills slow. Dress ginghams for fall are meeting
27 --gg
with a steady sale. Jobbers in wash goods continue to
Total Mch. 23 1912..53,053 5,837 16,201 13,631 2,393
do a
940 2,418
244
satisfactory business and report steady improvement in the
Total Mch. 16 1912..54,380 5,081 15,638 13,719 2,130
939 2,619
496
• Total Mch. 25 1911_35,149
____ 11,754 13,761
demand. Many department heads express confidence that
136. 1,345
f Total Mch. 26 1910_27,620
__ 14,176 9,662
__685 2,801
stocks, particularly those of sheets, will be well cleaned up
by
SUMMARY.
the end of the season. Print cloths and convertible
Bonded
Bondeda
s, while
Bonded
Wheat. Wheat. Corn.. Oats. Oats. Rye. Barley. Barley. firm, are also less active. It is
evident that the demands
lh Thousands,
bush, bush, bush, bush, bush, bush. bush. bush.
that have been pressing are satisfied. Narrow
American
53,053 5,837 16,201 13,631
cloths, ow18
244
Canadian
28,387
__ __
1 7,090 -----------92
___ ing to freer offerings, have eased slightly from top figures.
Gray goods, 383 -inch standard, are quoted firm at
Total Mch. 23 1912_81,440. 5,837 16,202 20,721 2,393
45c.
940 2,510
244
Total Meh:16 1912..81,941 5,081 15,643 20,119 2,130
WOOLEN GOODS.-Men's wear and dress goods markets
939 2,715
496
Total Mch. 25 1911..46,411
___ 11,758 20,430
136 1,434
are firm and active. In men's wear there is a good
Total Mch. 26 1910..37,292
demand
14,204 9,959
!685 2,849
for staple worsteds for prompt delivery, but desirable
goods
are said to be in small supply. Serges are scarce and
many
clothiers are placing orders for distant deliveries, fearing that
if
New York, Friday Night, March 29 1912.
they defer ordering they will later be unable to provide for
The tendency in the various divisions of the dry-goods mar- their requirements. It is stated that many
of the larger proket is toward still higher prices, which, owing to the dearth ducers of men's wear staples are refusing
orders, owing to their
of supplies, is stimulating rather than checking the demand. inability to fill the contracts at the times
specified. The
The labor situation is causing the trade no little anxiety, and Lawrence strike put some of the mills so
far behind that it
it seems that wages are no sooner satisfactorily adjusted in will take one or two months before they will be
able to catch up.
one quarter than discontent breaks out afresh in another.
FOREIGN DRY GOODS.-Prices for linens continue to
Despite recent advances in values, it is generally conceded harden, as sales are in excess of arrivals.
The latter are dethat, should the mills *rant an all-around advance of 10% in layed by the laying up of many steamships
on account of the
wages, it would necessitate still further advances on the price English coal strike. Stocks of goods
are decreasing steadily,
of finished goods. The President's message, together with. and in many instances desirable goods are completely
cleaned
the Tariff Board's findings on the cotton schedule, are com- up. Interest in colored dress linens has broadened.
Houseing in for considerable discussion, but the details are not keeping goods are also in active demand. The market for
yet sufficiently understood for the authorities in the trade burlaps continues firm, with business restricted by the scarcto determine exactly what the effect will be upon business ity of supplies. Arrivals, which have been more liberal of
should the revision become a law. In the market for staple late, have been readily absorbed, allowing of no accumulacottons, many of the mills are sold ahead entirely through tion. Futures are moderately active. Light-weights
are
the summer, and each advance in quotations compels them unchanged at 6.75c. and 103 -ounce at 7.50c.
to become more conservative in accepting contracts against
Importations and Warehouse Withdrawals of Dry Goods.
future delivery. Many lines of staple cottons are held at
The importations and warehouse withdrawal
value for forward delivery, as manufacturers seem to feel
s of dry goods
that present prices will be too low before the summer is over. at this port for the week ending March 23 1912 and since
Jan. 1 1912, and for the corresponding periods
There has been a further shortening of discounts on standard
of last year
lines of ginghams and a flat advance in price is expected in were as follows:
NO00.1 O.
the near future. In print cloths the volume of business is
4. 2g:g%
nt-nww
VONhO .0
wc4.9.0
•
large and the demand brisk, despite the firmness of prices.
•
Won:
4.
on
.
o
moc7 r: .;o;
w.
00
hOOMO co
W.h vN
005
MN
hYr.W. MO
In fact, the past week has been the best since the beginning
0..no
• .
. NO W.
q1." 00
0004\10 ,
1 0
▪
4.424c4
,of the year in the sale of ginghams and prints. In bleached
Wes; 0
Cl
'001
goods, the better-known lines are sold ahead for the next
ocoonw w
0000000(5.w 0
000010001
noww
VW
three months, and further advances in pikes would not be
wc.nno
wv.00w
005 0000
VYr
wnert
VV.h0 00005
;
a 00 05
0e)"
•surprising. Export business has come practically to a stand00
cococin
oc
i
00'0co
wad
'
.
h
co
04
gi
M
'
d
CS 010100
still, owing to the high prices and the uncertainty as to the
Ow
N
.future. In the cotton yarn market the extreme high prices
...Oh
yr 0
NO
Are causing buyers to limit transactions to actual necessities.
05
VN.W. 0-005 c•I
0100
01
000100w - 001 00
0101
They claim that prices have been unduly advanced and are
00
ONO.r; VW 05
NW
00
WNWN. N. 00
N.
not justified either by the demand or the condition of the
01
000.0 ow
01
. co
nw
.
market for raw materials. Buyers are therefore of
01
01 01
01
the opinion that present prices cannot be maintained very long.
000000100
In
OM... '00 005
000000 00
ONNh0 '0 N
.0hh. 00501
the dress goods markets much difficulty is being experienced
00901 01
005
MhN.0 0000 00
01.'. 010'l
in getting the deliveries required. Manufacturers of readyte
.
;
V
to-wear garments are complaining that they have been unable,
0 et et r. ut
05
000.owing to late deliveries, to turn out their fall samples and
.r 00 02 er 00 00
NW
'000
04 •
•
40
0 00
.00
00
00
00
put their salesmen on the road with the new fall lines. De04..cOmt,
:e4.
VO 00
dd
,-sks
00
mo 005
liveries on goods for late spring and summer are also very
VO
0
ww
OW
°.
unsatisfactory, and most jobbers are poorly situated on
,
t:c
or.7
h
'd
supB
oS
05
ct
plies. The heavy call for cream serges and whipcords
still
OV.N. 00
on
nnot.
00
,
1
gontinues, and present available supplies are wholly
• aD r4 NI 00 on 05
c:4
nnot...w w.
inade02 0
,
3 CD CO 0 o00
000000000
won 01050 oo
CD e. 00
quate to meet the demand.
.
0CD 000
vowom (505
00
et 0;
0)• 10 woOnMn
CD 005
M.N.
DOMESTIC COTTON GOODS.-The exports of
QD
er 01
01
cotton
r4
01
goods from this port for the week ending March
23 were
0000. on
00
00
00
15,614 packages, valued at $841,670, their destination
0.000
ow Tit
to
CS
being
000-00000 00501 co
01
00
to the points specified in the tables below:
Od.hoes Z. 00
005
00V0h .n on
0
41
L.'
1912---------1911----on
nn
01
Since
Since
et;
eki 05
ei
- • New York to March 23.
Week. Jan, 1.
Week. Jan. 1.
Great Britain
134
907
00 00 0 N uD
6
182
'00 000001
000h 0
00
Other Eulope
at '0 0- 001 45
V00.0
98
258
CO
h0000
27
185
.telerNet
China
01 00501
9,381 24,498
1,721 17,461
01
India
01
00
871
6,220
40
5,018
Arabia
1,627
7,758
Africa
300 14,1514,043
- i
1,206
West Indies
1,250 13,352
930
9,434
Mexico
83
780
40
472
Central America
443
4,020
603
4,494
South America
1,048 17,486
1,862
15,874
Other countries
379 14,778
187
9,464
k
I , Total
15,614 100,493
5,466 71,548
P The value of these New York exports since
Jan. 1 has been
ca°
$6,954,337 in 1912, against $5,220,724 in 1911.
0
a
. •.
Markets for domestic cottons have been a
?
Tabs0
little quieter
0
during the past week, which merchants claim is a
gP.ow4t4
wholesome
In Thousands.
Amer. Amer.Bonded
Rye. Barley. Barley.
bush, bush. bush.
. 7
99
1
2
2
..,.. 0..
Total marketed
DURING SAME PERIOI
.6,14
ME24692 .39,358,587
THE DRY GOODS TRADE.
THE CHRONICLE
:VIAL 30 1912.)
929
vertising for proposals for the development of the terminal
of the Port District. As previously stated in these
STAU MO CITY PErAVINEWT, facilities
columns, the voters on March 5 ratified the issuance of
News Items.
Baltimore, Md.-City Wins Warren Company Suit.-The
suit brought by the Warren Manufacturing Co. to prevent
the city from building a dam in the Gunpowder River below
its property was decided by Judge Bond of the Circuit Court
Co. sought to
,on March 26 in favor of the city. The Warren
entered
,compel the city to carry out the terms of a contract
the
into in Feb. 1908 whereby it was agreed to purchase
that
property for $725,000. In the event of it being decided
of this
the company was not entitled to the enforcement
.agreement, the Court was asked to restrain the construction
would
.of the proposed resetvoir on the ground that the damand im.cause the water to back up on the Warren property
of com-pair its use and value. The Court dismissed the bill to
plaint, but without prejudice to the company's right bring
suit again if it is found that its property is being damaged.
of
The case, it is announced, will now be taken to the Court
Appeals.
Des Moines, Iowa.-Federal Court Vacates Injunction Restraining Acquisition of Water-Works.--.-On March 21 the
-special court, consisting of Judges Walter I. Smith of the
. S. Circuit Court of Appeals and W. H. Munger of Nebraska, and Smith McPherson of Iowa, vacated the order temporarily restraining the city from proceeding under the State
law to acquire by condemnation the plant of the Des Moines
Water Co.
$5,000,000 bonds for the purpose of permitting such development. Correspondence is now invited looking to an arrangement along lines suggested in an advertisement on a
subsequent page.
United States.-Senator Stephenson to Retain Seat.-After
seven hours' debate on the case of Senator Isaac Stephenson
of Wisconsin, the United States Senate, by a vote of 40 to 34,
adopted on March 27 a resolution declaring the Senator entitled to retain his seat, and holding that the charges of corruption in connection with his election had not been proved
(V. 94, p. 503).
Special Senate Committee Upholds Senator Lorimer's Right
to Retain Seat.-By a vote of 5 to 3 on March 28 the sub-committee of the Committee of Privileges and Elections of the
United States Senate, appointed on June 5 1911 to investigate the charges of bribery in connection with the election of
Senator Lorimer of Illinois(V.92, p.1577),decided to uphold
Mr. Lorimer's right to retain his seat.
Bond Proposals and Nedotiations this week
have been as follows:
ABINGTON TOWNSHIP (P. 0. Abington), Montgomery County, Pa.
Bond Election.-An election will be held April 9 to submit to the voters the
question of issuing $150.000 road-impt. and $14,000 4 54% refunding bonds.
ALBERT LEA. Freeborn County, Minn.-Bond Electton.-An election
will be held April 2, it is stated, to vote on the following bond propositions,
aggregating $241,000: $37,000 funding; $40,000 water-works; $28,000
permanent-improvements
The Court holds in effect that the matter is entirely one for the State bridge and dam; $51,000 street-impt.; $60,000
never
has
Iowa
of
and $25,000 sewer-ext. bonds. Int. rate not to exceed 5%.
courts to pass upon, saying that the Supreme Court
apCounty. Iowa.
Monroe
Albia).
0.
(P.
passed upon the constitutionality of the statute except in so far as itsays
DISTRICT
SCHOOL
ALBIA
pointed three judges to act in condemnation proceedings. The Court for Bond Sale.-Geo. M. Bechtel & Co. of Davenport have been awarded $60,Denom. $1,000. Date Jan. 1 1912,
bonds.
further that it is possible that even before this case could be reached
bldg.
10-year
455%
000
final trial in the Federal Court, the Supreme Court of Iowa will have passed
a Interest J. & J.
upon it, and for this reason the Judges did not feel justified in awarding
ALPINE HIGH SCHOOL DISTRICT NO. 1, Utah County, Utah.-Bond
with the
-temporary injunction upon the ground that the Act is in conflict
Sale.-On March 16 the $60,000 5% 10-20-year (opt.) bldg. bonds (V. 94.
State constitution.
p. '719) were awarded to H. T. Holtz Si Co. of Chicago for $61,463, making
price 102.438. Other bids follow:
Japan.-Bond Redemption.-In an advestirement on a the
Harris Tr. & Say. B.,Chic_$61,285 00 Well, Roth & Co., CW..460,750 00
Coffin & Crawford, Chic .... 60,612 00
preceding page the Yokohama Specie Bank, Ltd., Reitaro Causey,Foster& Co.,Denv. 61,267 00
60,608 00
E.H.Rollins & Sons,Denv. 61,254 00 Ulen Si Co., Chicago__
Ichinomiya, agent, 55 Wall Street, N. Y., gives notice that Utah
y61,087 00 C. H. Coffin, Chicago .._ _.. 60,601 00
&Tr.Co.,S.L.Cit
Say.
nternal
00
20,000,000 yen of the special 5% Loan Bonds-I
L. B. Laning, Kans. City_ 61,079 00 Devitt,Tremble&Co.,Chic. 60,527 00
Co.,Den. 61,065 00 H.C.Speer & SonsCo.,Chic. 60,525
Issue-of the Imperial Government of Japan will be drawn JamesN.Wright&
___ 61,002 00 Federal Nat. Bank, Deny_ 60,474 00
Denver
Bros.,
Keeler
30
April
on
Wm. E. Sweet & Co.,
for redemption in Japan on April 1, redeemable
Woodin, McNear & Moore,
60,312 50
Denver
60,822 00
Chicago
in Japan. For the convenience of holders of these bonds,a Cont.
Bolger, Mosser & WillaSay.
&
Trust
Corn.
&
00
60,068
Chicago_
man,
list of the drawn bonds will be posted at the office of the
00
60,762
Bank, Chicago
&c.,
All expenses of bond issue, such as blank bonds, attorney's fees. ,.,
Yokohama Specie Bank, Ltd., about April 30th, by whom
purchaser.
by
paid
they will be purchased on and after that date at current rate to be
March
ALVA. Woods County, Okla.-Bonds Voted.-At an election held
of exchange on Japan.
19 the taxpayers ratified a proposition to issue $55,000 6% 25-year coup
it is stated, was 459 to 73.
vote,
The
bonds.
-works
water
ConcernNatchitoches Parish School District, La.-Facts
AMERICAN FORK SCHOOL DISTRICT NO. 14, Utah County, Utah.
bonds were
ing Sale of School Bonds.-P. M. Lamberton, Assistant Secre- Bond Sate.-On March 16 $20,000 554% 10-20-year (opt.) bldg.bids
follow:
Other
at
Denver
101.38.
of
Sons
&
Orleans,
Rollins
of
New
H.
Co.
&
awarded to E.
tary of the Interstate Trust Banking
H. T. Holtz Si Co., Chic _..$20,263 00I Devitt,Tremble&Co.,Chic.$20,097 00
20,080 00
writes us as follows concerning the $50,000 school bonds of Causey,
Foster&CO.,Denv. 20,222 00 Well, Roth & Co., Chic
20,077 00
L. B. Lenin , Kans. City._ 20,141 00 Ulen & Co., Chicago
this district:
UtahSay.&Tr.Co.,S.L.City 20.077 00
ear & Moore,
Mc
Woodin,
Messrs. Wm. B. Dana Co.:
___ 20,119 00 H.C.Speer&SOns Co.,Chic. 20,075 00
Chicago - _......
Dear Sirs.-We are returning herewith your inquiry sheet covering jamesN.Wright&Co.,Den. 20,106 00 Cont. as Cora. Trust & Say.
-$50,000 Natchitoches Parish School District bonds. The facts in connection Wm.E.Sweet&Co.,Denv. 20,104 50
20,054 00
Bank. Chicago
with this matter are as follows;
20,050 00
Coffin, Chicago-- _ 20,101 00 Coffin & Crawford, chic
In November 1911 we purchased,through a duly accredited representative C.AH.
from the Federal Nat. Bank.
received
was
also
discount
5i%
at
bid
of the issuing authority,the above issue of bonds at par and accrued interest.
such
issue,
bond
of
expenses
All
1912.
1
April
Date
$1,000.
Denom.
Our attorney superintended and actually drew up all the initial proceedings
blank bonds, attorney's fees, &c., to be paid by purchaser.
looking towards the issuance of these bonds. The affair was rather compli- ifs
0.
8
(P.
NO.
DISTRICT
ARCADIA (TOWN) UNION FREE SCHOOL
cated, owing to the fact that the property on which the building was to be
March 27 the $27,500
-erected was owned by the State Normal School, while the building itself Newark). Wayne County. N. Y.-Bond Sale.-On
p.
(V.
94,
779)
bonds
bldg.
and
site
tax-free
School
reg.
by
(aver.)
voted
a
be
tax
to
4.35% 105.1-yr.
-was to be built out of the proceeds of special
District No. 9 of Natchitoches Parish, which District comprises the town of were awarded to Douglas Fenwick & Co. of N. Y. for $27,579 (100.287)
Natchitoches. Suitable resolutions had to be adopted by both boards, and and int. Other bids follow:
$27,529 00 i Ferris & White, N. Y_ __ _$27,518 00
Adams & Co., N. Y
these resolutions were drawn up by our attorney.
On Nov. 9th we made a firm offer in writing for the bonds to the repre- I. W.Sherrill, Poughk'sle_ 27,533 50 Harris, Forbes & Co.,N.Y. 27.511 27
sentative in question, and shortly after received his reply, stating that our
ARDMORE. Carter County, Okla.-Description of Bonds.-The $50,000
-proposal had been accepted by a citizens' committee, and that it also had 5% 25-yr. water-ext-bonds awarded on Feb. 20 to R. J. Edwards of Oklathe approval of the Parish School Board of Natchitoches Parish and the homa City at 101.054 (V. 94, p. 779) are in the denom. of $1,000 each and
this
of
receipt
Upon
we,
School.
of
course,
communication
Normal
:State
dated Feb. 1 1912. Int. F. Si A.
took the position that we were the purchasers of the bonds, and have
ARENAC COUNTY (P. 0. Standish), Mich.-Bond Election.-Local
maintained that position ever since.
if
were
asked
we
we
would
March
papers state that a proposition to issue $5,000 jail bonds will be voted
to
object
having
of
In the early days
held April 1.
the Board receive sealed bids for the bonds; we did object, but, never- on at an election to be
ATLANTIC CITY, N. J.-Bond Sale.-On March 23 the $100,000 35-year
theless, a committee appointed by the Board received and opened, on
This
committee
bids.
that
recommended
water and $20,000 20-year city-tmpt. 454% coup. bonds (V. 94, p. 719)
March 12th, some six or eight
At a meeting of the were awarded to Livingston & Co. of N. Y. at 104.579 and int. and 103.375
the Parish School Board award the bonds to us.
inst,
the
s
21st
the
on
recommendation
held
was
which
and int. respectively-a basis of about 4.248%. Other bids follow:
Parish School Board
0
.
0e0
0s,u
Is
*2
$100,000
•of the committee were rejected and the President was instructed to adverIssue.
tise for scaled bids to be opened on April 8th. Our representative at that
$104,280 00 $20,556 00
time objected to the proceedings on the ground that we had a contract O'Connor & Kehler, New York
20,438 00
104,410 00
Douglas Fenwick & Co., New York
with the issuing authority for the bonds.
20.614 00
104,271 00
We take the position that we are the owner of the bonds and we intend A. B. Leach & Co., New York
20.602 00
104,240 00
to see to it that the School Board of Natchitoches Parish be not permitted It. M. Grant & Co., New York
20,554 00
104,210 00
Fifth-Third National Bank Cincinnati__ _
to make contracts for the sale of this issue of bonds to any one else.
20,505 00
104,044 00
These bonds are of $500 each; they will be dated April 1st 1912; they Adams & Co. New York
20,502 60
'bear 5% interest, payable semi-annually in April and October; they mature E. H. Rollins & Sons, New York...103,875 00
20,526 00
103,811 00
serially; all unmaturcd bonds are optional in 1921.
Curtis & Sanger, New York
20,618 22
103,091 10
Yours truly,
Harris, Forbes & Co., New York
20,143 00
101,281 00
P. M. LAMBERTON, Assistant Secretary.
Bond & Goodwin, New York
102 830 00
20,426 00
Continental Securities Co _
New York State.-Legislature Passes Bill Making Appro- Spitzer,
20,335 50
102,697 50
Bolick & Co., New York20,335 00
102,275 00
priation for Panama Pacific Exposition.-Senator Frawley's C. E. Denison & Co., Boston_
20,212 00
102,060 00
& Mayer, Cincinnati.
-bill appropriating $700,000 for New York State's partici- Seasongood
121.578
Blodget & Co., New York (for both issues)
pation in the Panama-Pacific Exposition to be held at San
Yet
Action
-No
J.
0.
N.
May's
(P.
Landing),
ATLANTIC COUNTY
the County Collector that no action has yet
'Francisco was passed by the Assembly on March 28 under Taken.-We are advised bythe
re-offering of the $38,000 5% coup. or reg,
towards
looking
taken
been
an emergency message from Governor Dix. This measure bridge bonds offered but not sold on Feb. 10 (V. 94, p. 503).
-was previously passed by the Legislature but was recalled
BEACH CITY SPECIAL SCHOOL DISTRICT (P. 0. Beach City), Stark
Oh!o.-Bond Offering.-Proposals will be received until 7:30 p. in
and amended to meet certain suggestions of the Governor. County,
1 by the Board of Education for $9,500 5% coup. bonds. Denom.
April
T. 84, p. 778.
$500. Int. semi-ann. Due 19 years. Cert. check for $100 required.
Legislature Adjourns.-Pursuant to the resolution adopted W.A.Justice is Clerk.
BEVERLY,Burlington County, N. J.-Bond Offering.-Proposals will be
"February 27 (V. 94, P. 645) the Legislature adjourned
received until 8:30 p. in. April 9 by T. Lee, Chairman Finance Corn., for
yesterday afternoon (March 29)..
$30,000 30-year sewer and $40,000 20-year street-impt. 454% bonds.
Date March 30 1912. Denom. $500. Int: M. & S. Cert. check for 2%
Nutley, Essex County, N. J.-Commission Form of Govern- of
bonds bid for, payable to City Treas., required. Registered bonds in
-men Approved.-By a vote of 412 to 287, the commission lieu of coup. bonds will be issued at the option of purchaser. Bonds to be
and paid for by April 16. Separate bids must be made for each
delivered
was
government
approved
held
at
election
of
the
;form
issue.
March 26 (V. 94, p.. 778).
BILOXI, Harrison County, Miss.-Description of Bonds.-The $70,000
on March 8 to the Inter-StatelBank Si Trust
Port of Seattle, Wash.-Bids Invited for Lease of Proposed 5% water-works bonds awarded
Co. of New Orleans at 100.57 and int. (V. 94, p. 863) are in the denom. of
•Harbor Improvement.-The Port of Seattle Commission is ad- $1,000 each and dated March 1 1912. Int. M. Si S. Due from 1 to 20 yrs.
930
THE CHRONICLE
BREMERTON, Kitsap County. Wash.-Bond Election.-A proposition
to issue $150,000 bonds to purchase the plant of the Bremerton Water &
Power Co. will, It is stated, be submitted to a vote April 16.
[VOL. Lxxxxiv.
CLEAR LAKE INDEPENDENT SCHOOL DISTRICT(P.O.
Lake),
Cerro Gordo County, Iowa.-Bond Offering.-Proposals will Clear
be received
unti. April 24 for the following 4 3.6% bonds:
CAPE MAY,Cape May County. N. J.-Band Offering.-Proposals will be $51,000 bldg. bonds. Date July 1 1912.
6,500 refunding bonds. Date July 20 1912.
received until 8 p. m. April 2 for $58,000 30-year coup. and $8,000 2-year
Denom. $500. Int. semi-ann. at Treas. office. Due 10 yrs. Cert.
reg. 5% bonds. Denom. $1,000. The interest on the 30-year bonds is
payable semi-annual. Cert. check for $1,000 required. S. H. Moore, check for 2% required. Purchaser to furnish blank bonds. Official circular
states that prin. and int. of all bonds previously issued have been
Chairman Finance Committee.
promptly paid at maturity. Bonded debt $6,000. No floating
debt.
CARPINTERIA UNION SCHOOL DISTRICT (P. 0. Carpinteria), Santa Assessed valuation, $398,089.
Barbara County, Cal.-Bond Offering.-Proposals will be received until
CLEVELAND
SCHOOL
DISTRICT
Ohlo.-Bond
Cleveland),
(P.O.
Sale.
$33,000
for
5% 20-year site-purchase and building bonds. Au- -On March 25
April 20
the $300,000 4% 20-yr. coup. bldg. and impt. bonds (V. 94,
thority vote of 101 to 2 at an election held March 16.
p. 779) were awarded jointly to the Cleveland Trust Co. of Cleveland, Field,
CHAMPAIGN SCHOOL DISTRICT (P. 0. Champaign), Champaign Longstreth & Co. of Cinc., Tillotson & Wolcott Co. of Cleve. and Stacy &
County, III.-Bond Sale.-Wm. R. Compton Co. of St. Louis was, it is re- Braun of Toledo at 100.3355 and int. A joint bid of $300,430 was also received from Hayden, Miller & Co. and Otis & Hough of Cleveland.
ported, awarded at 103.09 the $25,000 school bonds (V. 94, p. 779).
• COHASSET, Itasca County, Minn.-Bond Offering.-Proposals will be
CHANUTE, Neosho County, Kan.-Bond Sale.-On March 18 the $25,000 5% 10-20-year (opt.) park bonds (V. 94, p. 779) were awarded to the received until 1 p. m. April 15 by the Village Council for $6,300 6% refunding bonds. Due March 12 1922. Certified check for $250, payable
First Nat. Bank of Chanute, according to newspaper reports.
to F. J. Skocdopole, Village Recorder, required.
CHARLESTON. Coles County, III.-Bond Election.-According to local
COLEMAN, Coleman County, Texas.-Bond Sale.-fleports state that
papers, the question of issuing $40,000 5% water-works-system bonds will the $25,000 5% 15-40-year
(opt.) street-impt. bonds voted Aug. 12 (V. 93,
De submitted to the voters at an election to be held April 16. Int. annual.
p. 609) were sold to a firm in Toledo, Ohio,
CHATHAM, Pittsylvania County, Va.-Bond Election.-Local papers
COLONIAL BEACH. Westmoreland County, Va.-Bond Offering.-Prostate that an election will be held April 18 to decide whether or not this town posals will be received until 3 p. m. April 11 for $20,000 sewer and $17,000
shall issue $20,000 street paving and $10,000 water-works and sewer bonds. water-works 6% 25-yr. coup. bonds. Denom. $500. Int. semi-ann. at
CHATTANOOGA, Hamilton County, Tenn.-Bonds Voted.-By a vote place to be agreed upon. Cert. check for $500 is required. H. W. B.
of 541 to 212, the proposition to issue the $250,000 43i% 30-yr. park bonds Williams is Mayor. A similar Issue of bonds was awarded to Farson, Son
& Co. of Chicago (V. 93, p. 1621).
carried at the election held March 26. (V. 94, p. 863.)
CORONA. Riverside County, Cal.-Bond Sale.-G. G. Blymyer & Co. of
CHATTAROY SCHOOL DISTRICT NO. 88 (P. 0. Chattaroy), Spokane
San
Francisco have been awarded at par the four issues of 4 M% gold coupon
County, Wash.-Bonds Voted.-The question of issuing $10,000 bldg. bonds
tax-free publie-impt. bonds aggregating $51,000, offered on Melt. 5 (V. 94,
carried by a vote of 56 to 6, it is stated, at an election held March 16.
p. 367). This firm, we are advised, has also purchased $50,000 street bds.
CHEHALIS COUNTY (P.0. Montesano). Wash.-Bids.-The other bids
CROW WING COUNTY (P. 0. Brainerd), Minn.-Bonds Defeated.-The
received on March 18 for the $150,000 5% 1-10-year(ser.) refunding bonds
awarded to E. H. Rollins & Sons of Denver at 101.77 (V. 94, p. 863) proposition to issue $35.000 bridge bonds was defeated at the election held
March 12 (V. 94, p. 577).
were as follows:
Dexter-Horton Nat. Bk.,
CUSTER COUNTY (P.O. Miles City). Mont.-Bond Offering.-Proposals
Henry Teal
$151,920 00
Seattle
_ $152,265 00 Wm.A. Read & Co Chic 151,738 50 will be received until May 6, it is stated, for $170,000 5% bridge bonds.
Carstens & Earies, Inc.,
Date Jan. 1 1912. Due 20 years.
First National Bank,
Seattle
152,212 50
Hoquiam
151,537 50
CUYAHOGA COUNTY (P. 0. Cleveland), Ohio.-Bond Offering.-In
Geo. H. Tilden & Co.,
State of Washington__
150,000 00 addition to the $12,250 assessment and $54,523 county's portion 43,6% coup.
Seattle _______ 152,026 00
Green Road impt. bonds to be of/ered on April 13 (V. 94, p. 864), an issue
CHEHALIS COUNTY SCHOOL DISTRICT NO. 105, Wash.-Bond Sale. of $5,692 4;4% coup. Lake Shore Boulevard Bridge bonds will also be
-On March 9 $4,000 bldg. bonds were awarded to the State of Washington offered on that day. Authority, Sees. 2434, 2435, 2438 and 5638 to 5644,
at par for 5%s. Denom. $500. Date "about April 1 1912." Int. annual. incl., Gen. Code. Denom.(1) $192 and (11) $500. Int. A. & 0. beginning
Oct. 1 1912. Duo $192 Oct. 1 1912, $500 yriy. Oct. 1 from 1913 to 1919
Due in 5 years, opt, at any time. No other bids were received.
and $1,000 Oct. 1 in 1920 and 1921. Cert. check on a bank,other than
CHEYENNE, Laramie County, Wyo.-Bond Election Proposed.-Local incl.one
making the bid, for 10% of bonds bid for, payable to the Co.Treas,.
papers state that the City Council has called a special election to vote on the
required.
Bonds to be delivered and paid for within 10 days after time
propositions to issue water and sewer bonds.
of award. Purch. to pay accrued int. J. F. Goldenbogen is Clerk Board
CHICAGO, III.-NORTH SHORE PARK DISTRICT.-Bond Sale.- of County Commissioners.
McCoy & Co. of Chicago have been awarded $18,000 43% 12-20-year
CUYAHOGA FALLS VILLAGE SCHOOL DISTRICT (P. 0. Cuyahoga
(ser.) bonds. Date April 1 1912.
Falls), Summit County, Ohlo.-Bond Offering.
will be received
CHICAGO JUNCTION (P. 0. Chicago), Huron County, Ohio.-Bond until 11 a. m. April 16 by J. H. Rodbard, Clerk -Proposals
Bd. of Ed. for 56,0004 M%
Sale.-On March 20 the three issues of 5% impt. bonds aggregating $9,- coup. high-school-bldg. impt. bonds. Auth. Secs.
2294,'2295, 7625, 7626
246 30 (V. 94, p. 577) were awarded $6,155 90 at 103.939 and $2,500 at and 7627, Gen, Code. Denom. $500. Date "day of
sale." Int. A. & 0..
102.2404 to M. S. Pond of Somerset and $590 40 at 100.169 to W. B. beginning Oct. 1 1912, payable at the Cuyahoga Falls
Say. Bank, CuyaKeefer of Chicago. The bids follow:
hoga Falls. Due $500 yearly April 1 from 1919 to 1922, incl., and $1,000
Amt. Bid for. Bid.
yearly April 1 from 1923 to 1026 incl. Cart, cheek on a bank, other than the
M. S. Pond, Somerset
$6,155 90 $6,398 44 one makinglthe bid, for 5% of offer, payable to the Bd. of Ed., required.
2,500 00
2,556 01
DASSEL SCHOOL DISTRICT
0. Dassel), Meeker County, Minn.
W. B. Keefer, Chicago
1 6,155 90
6,205 90 Bonds Voted.-Reports state that(P.
the
of issuing $20,000 building
590 40
591 40 bonds carried by a vote of 228 to 118 atquestion
a recent election.
S. A. Kean & Co., Chicago
9,246 30
9,431 22
DAVENPORT SCHOOL DISTRICT (P. 0. Davenport), Scott County,
Security Savings Btink & Trust Co., Toledo __ _
9,246 30
9,358 80
6,155 90
6,377 90 Iowa.-Vote.-We are advised that the vote cast on March 11 in the defeat
Hayden, Miller & Co., Cleveland
2,500 00
2,537 00 of the proposition to Issue the $80,000 bonds was 214 "for" and 3,490
590 40
590 04 "against" (V. 94, p. 864).
Seasongood & Mayer, Cincinnati_
6,155 90
6,386 90
DAYTON. Ohio.-Bonds Authorized.-Ordinances were passed March 11
2,500 00
2,538 00 providing for the issuance of the following bonds:
New First National Bank, Columbus --------------1 6,155 90
6,348 59
$2,300 6% Haller St. impt. assess. bonds. Denom.(3) $500 and (1) $800.
2,500 00
2,511 00
Due $800 April 1 1914 and $500 April 1 in 1915, 1916 and 1917.
Cedar & MeKillip, Chicago
2,500 00
2,525 50 385,000 4% Great Miami River impt. bonds. Denom. $1,000. Due on
April 1 as follows: $25,000 from 1920 to 1923 incl., $17,000
Purchasers to pay accrued interest.
from 1924 to 1928 incl., $20,000 from 1929 to 1933 incl. and
CHIPPEWA COUNTY (P.0. Sault Ste. Marie). Mich.-Bond:Offering.$25,000 from 1934 to 1937 incl.
Proposals will be received until 3 p. m. April 9 by H. L. Parsille, County
Date April 1 1912. Interest semi-annual.
lerk, for $40,000 434% 15-year reurnding bonds. Date May 15 1912•
DEFIANCE, Shelby County, lowa.-Bonds Voted.-An election held
March 25 resulted in a vote of 68 to 18 in favor of the question of issuing
Interest semi-annual.
The official notice of this bond offering will be found among the advertise- 58.000 bonds.
DELAWARE COUNTY (P.O. Delaware), Ohio.-Bond Sale.-On March
ment elsewhere in this Department.
25 the $9,100 43-6% 55%-year (aver.) road-impt. bonds (V.94, p. 720) were
CHOUTEAU COUNTY SCHOOL DISTRICT NO. 59, Mont.-Bonds Not awarded to R. M. Avery
for $9,282 50, making the price 102.005. Other
Sold.-No bids were received on March 19 for an issue of $2,000 building bids follow:
bonds offered on that day.
Delaware Nat. Bank, Del_ _$9,282 00)11. Kleybolto Co.. Inc.,
CINCINNATI, Ohlo.-Bonds Authorized.-An ordinance was passed on Delaware Say. Bank, Del__ 9,281 50
Cincinnati
$9,253 80
March 12 providing for the issuance of $11,000 4% street-impt. bonds. Sec. Say. Bk. & Tr. Co.,Tol. 9,280 00 Seasongood & Mayer, Cinein.9,228 00
Denom. $500. Date April 15 1912. Due April 15 1927.
DENTON. Denton County, Tex.-130nd Election.-An election will be
CLAY SCHOOL DISTRICT, Fresno County,Wal.-Bond Sale.-On held April 9, It is stated, to vote on a proposition to issue $9,000 schoolMarch 4 $8,000 6% bonds were awarded to D. E. Bradley at 101.70. building bonds.
Denom. $800. Date Feb. 13 1912. Int. ann. in Feb. Due $800 yearly.
DOUGLASS. Coffee County, Ga.-Bond Offering.-Proposals will be
CLEVELAND,Ohio.-Bonds Authorized.-An ordinance has been passed received until 12 m. April 15 by J. D. Knowles, City Clerk, for the $25,000
providing for the issuance of $35,000 4% coup. grade-crossing bonds. De- school, $15,000 electric-light and water and $10,000 sewer 5% bonds
voted
nom. $1,000. Date April 11912. Int. A. & 0. at the American Exchange Dec. 11 (V. 93, p. 1680). Denom. $500. Date Feb. 1 1912, Int. ann.
National Bank in New York. Due April 1 1942.
Due Feb. 1 1942. Certified check for $1,000 required.
Bond Sale.-On March 25 the eight issues of 4% coup. bonds, aggregatDOVER, Strafford County, N. H.-Bond Sale.-On March 27 the $75,000
ing $1,725,000 (V. 94, p. 720), were awarded as follows:
3%7
0 18 %-year (ay.) coup. city-hall
bonds (V. 94, 13. 861) were
1450,000 25-yr. (city's portion) street-impt. bonds to the Tillotson & Wol- awarded to the Stafford Say. Bank ofrefunding
Dover at 98. A bid of 95.637 was
cott Co. and Clay. Trust Co. of Cleveland at 100.4025.
also received from E. H. Rollins & Sons of Boston.
350,000 30-yr. park bonds to the Tillotson & Wolcott Co. and Cloy. Trust
DOVER, Cuyahoga County, Ohlo.-Bond Offering.-Prorsals will be
Co. of Cleveland at 100.4525.
725,000 30-yr. infirmary and hospital bonds to the Tillotson & Wolcott received until 12 m. April 22 by C. A. Banner, City Auditor, or the following 4% bonds:
Co. and Cleveland Trust Co. of Cleveland at 100.452.
75,000 30-yr. house of correction bonds to the Atlas National Bank of $9,500 North Wooster Ave. impt. assess. bonds. Due $500 each six
months from April 1 1914 to April 1 1923 incl.
Cincinnati at 100.76.
9,000 South Wooster Ave. impt. assess. bonds. Due $500 each six
25,000 30-yr. city-farm-school bonds to tho Atlas National Bank of
months from April 1 1914 to Oct. 1 1922 incl.
Cincinnati at 100.76.
5,500 Tuscarawas Ave. impt. assess. bonds. Due $500 yearly April 1
25,000 30-yr. market-house bonds to the Atlas National Bank of Cincin1914 to 1923 incl. and 5500 Oct. 11023.
nati at 100.76.
1,000 Second St. impt, assess. bonds. Due $500 Oct. 1 1916 and $500
45,000 30-yr. fire-dept. bonds to the Tillotson & Wolcott Co. and CleveApril
1 1919.
land Trust Co. of Cleveland at 100.561.
1,000 Commerce St. impt. assess. bonds. Due $500 Oct. 1 1916 and $500
30,000 30-yr. police-dept. bonds to the Tillotson & Wolcott Co. and CleveApril 1 1919.
land Trust Co. of Cleveland at 100.6116.
4,500 city's portion impt. bonds. Due $500 each six months from April 1
The bids follow:
1914 to April 1 1918 incl.
425,000 •$25,000
$45,000
$30,000
Authority See. 3914 and 3821 Gen. Code. Denom. $500. Date April 1
Issue.
issue.issue,
issue.
Tillotson & Wolcott Co. and $25,128 75 $25,128 75 $45,252 50 $30,3e
183.50 1912. Int. A. & 0. at the Sinking Fund Trustees' office. Purchaser to
pay accrued int. Cert. check for 20% of bonds bid for, payable to A. NyClev. Trust Co., Cleveland _
Hayden, Miller & Co. and 25,011 00 25,011 00 45,018 00 30,012 00 degger, Treas., is required.
Otis & Hough, Cleveland_ _
DUBOIS. Clearfield County, Pa.-Bond Election.-A vote will be taken
Atlas National Bank, Cinc__ 25,190 00 25,190 00
on April 13 on a proposition to issue $25,000 building bonds.
C. E. Denison, Cleveland__: 25,136 50 25,136 50 45,244 50 30,163 50
DULUTH, Minn.--Certificate Offering.-Proposals will be received until
German Nat. Bank, Cine____ 25,156 25
7:30 p. m. April 8 for not less than $125,000 or more than $200,000 5%
Breed & Harrison, Cincin__ _ 25,037 50
45,022 50 30,030 00 gold coup.
certificates of Indebtedness. Denom. $1,000, $500, $100 or $50.
Fifth-Third Nat. Bk., Me__ 25,005 50 25,025 00 45,007 50 30,005 00 Date between
April 1 and Sept. 11012, Int. A. & 0. Due approximately
$450,000 $350,000 $725,000
$75,000
one-third yearly Oct. 1 1913 to 1915 incl. Cert. cheek or certificate of deissue.
issue.
issue.
issue.
posit of a national bank for $1,000, payable to the City of Duluth, is reTillotson&Wolcott Co. and)$451,811 255351,583 755728,280 62 $75,348 75 quired. Cert. check to be filed with the City Clerk before 2 p. m.on Apr. 8.
Cleveland Trust Co.. Clev_j
DUNMORE. Lackawanna County., Pa.-Bond Sale.-On March 25 the
Hayden, Miller & Co. and 450,180 00 350,140 00 725,290 00 75,030 00
$45,000 4 56
, % coup. general impt., 'Series No. 2," bonds (V. 94, p. 864)
Otis & Hough, Cleveland_ _ f
were
to Harris, Forbes & Co. of N. Y. at 102.191 and interest.
Atlas Nat. Bank, Cincinnati_
75,570 00 Otherawarded
bids follow:
C. E. Denison & Co., Cleve
75,406 50 Lawrence
C. H. Venner & Co., N. Y$45,846 00
Barnum & Co.,
German Nat. Bank, Cinein
75,197 50
$45,981 00I.E. Denison & Co., Cloy. 45,797 50
Philadelphia
Weil, Roth & Co., Cin__
75,232 50 Kountze
45,937 35A. B. Leach & Co., N. Y.. 45,573 75
Bros., N. Y
City-farm-school,
x Market-house.
•
EAST FOXBORO WATER SUPPLY DISTRICT, Norfolk County, Mass.
Bond Election.-In addition to the question of Issuing $1,000,000 play- -Bond Sale.-On March 26 the 512,000
4% 1-24-year (ser.) coup. water
ground bonds, to be voted upon at the election to be held May 21 (V. 94, p. bonds (V. 94, p. 884) were awarded to E. H. Rollins
& Sons of Boston at
864), a proposition to issue $900,000 street-ext. bonds will also be submitted 102.277-a basis of about 3.771%. A bid of 101.07 was
also received from
to a vote.
Adams & Co. of Boston.
MAR. 30 19124
THE CHRONICLE
931
-ProHARRISON COUNTY (P. 0. Corydon), Ind.-Bond Offering.
for $23,posals will be received until April 4 by J. D. Pitman, Co. Treas.,
4
April
Date
$500.
and
$675
Denom.
bonds.
refunding
coup.
A%
4
500
State and
1912. Int. M. & N. at Corydon. Bonds are exempt from Treas.
recounty taxes. Cert. check for $1,000, payable to the Co.
quired. Total debt, including this issue, $24,000. Assess. val. for 1912.
$6,326,786.
March 14
HARRIS TOWNSHIP,Ottawa County, Ohio.-Bond Sale.-On
the following bids were received for the $12,000 5% 11-22-yr. (ser.) coup.
578):
p.
94,
(V.
road-impt. tax-free bonds
64
Scasongood & Mayer, Cin_$13,029 00 Stacy & Braun, Toledo__ _$12,939
00
Bank of Elmore Co., Elm_ 13,013 23 First Nat. Bank, Elmore_ 12,686
New First Nat. Bank, Col. 12.979 00
HASTINGS-ON-HUDSON. Westchester County, N. Y.-Bond Offering.
2 of the
-Additional details are at hand relative to the offering on April
be re$18,000 park bonds (V. 94, p. 865). Proposals for these bonds will
Zinsser,
G.
F.
Trustees,
of
Board
ceived until 5 p. m. on that day by the
5%)
Pres. Denom. $1,000. Date April 1 1912. Int. (rate not to exceed
Bonds
payable J. & J. Due $1,500 yrly. July 1 from 1915 to 1926 incl.check
on
Cert.
to be delivered on April 15 1912 at the Vii. Treas. office.
Vii. Treas.,
an incorporated bank or trust company for $1,000, payable to
in
.defaulted
never
has
village
this
Official
that
circular
states
required.
payment of principal or interest.
Mich.
County.
Barry
HASTINGS SCHOOL DISTRICT (P.O. Hastings),
-Bonds Voted.-A proposition to issue $12,000 school bonds carried, it is
election.
stated, by a vote of 190 to 29 at a recent,
HILLSBOROUGH (P.O. San Mateo), Cal.-Bonds Voted.-On March 16
$15,000 fire-dept. 5% 1-20-yr.
and
propositions to issue $115,000 highway
(ser.) bonds carried by a vote of 68 to 4.
HOBOKEN, N. J.-Bond Offering.-Proposals will be received until
4 p. m. April 10 by the Mayor and City Council for $350,000 5% coup, or
reg. special tax-arrearage bonds. Int. semi-annual. Due 10 years from
April 1 1912. Cert. check on a national bank or trust company for $5,000
required. Bonds will be certified as to geninueness by the Knickerbocker
Trust Co. of New York. James H. Londrigan is City Clerk.
The official notice of this bond offering will be found among the advertisements elsewhere in this Department.
HOLLY HILL SCHOOL DISTRICT (P. 0. Holly Hill), Orangeburg Co..
So. Car.-Bonds Voted.-Reports state that a proposition to issue $8,000
building and equipment bonds carried at an election held March 19.
11, Tex.
HOPKINS COUNTY COMMON SCHOOL DISTRICT NO.
at par about
Bond Sale.-The Hopkins County School Fund purchased
94,
(V.
6
Feb.
on
registered
bonds
(opt.)
10-20-yr.
5%
$700
the
March 1
p. 505). Denom. $100. Int. ann. in April.
ls will be
IDABEL, McCurtain County, Okla.-Bond Offering.-Proposa
Town Clerk, for $35,000
received until 8 p. m. April 16 by R. S. McLean,(V.
Date
720).
p.
94,
bonds
ext.
and
mpt.
water-works-i
6% 25-yr.
Bonds
April 15 1912. Cert. check for $500, payable to Treasurer, required.
Idabel,
delivered without expense to purchaser at the First National Bank,
accompanied
within 5 days after approval by the Attorney-General and
with transcript of proceedings upon which his approval is based.
will be
-Proposals
Offering.
INDIANA. Indiana County, Pa.-Bond
received until 12 m. April 15 by T. B. Clark, Chairman Finance Committee,
May 1
Date
$1,000.
Denom.
bonds.
bldg.
tax-free
coup.
434%
$20,000
for
1912. Int. M. & N. at the Farmers' Bank, Indiana. Due $2,000 May 1
1917 and 1922. $3,000 May 1 1927 and 1932. also $5,000 May 1 1937 and
1942. Cert. check for $100, payable to J. B. Taylor, Treas., required.
IOWA CITY, Johnson County. Iowa.-Bond Sale.-On Feb. 2 the
• Successful bids.
$15,431 30 6% 354-yr. (ay.) street-paving bonds (V. 94, p. 505) were
-Proposals
Offering.
Wash.
to local investors at par. Date Feb. 2 1912.
-Band
awarded
Pasco),
(P.O.
FRANKLIN COUNTY
m. April 2, It is stated, by E. D. Sheffield,
will be received until 2:30
JEFFERSON COUNTY (P. 0. Steubenville), Ohio.-Bond Offering.
(opt.) court-house and jail bonds at not Proposals will be received until 12 m. April 9 by the Commissioners of the
p.
County Aud., for $85,000 10-20-yr.
for
of
County
Auditor)
(care
Road
required.
Turnpike
1%
for
exceeding 5% int. Cert. check
Unionport and Hopedale Free
-Proposals
turnpike bonds. Denom. $500. Date April 1 1912.
FREDERICKTOWN. Knox County, Ohio.-Bond Offering. for $1,500 $15.000 414% coup.
Sept. 1 from 1913 to
Int. A. & O. at the Co. Treas. office. Due $500 yriy.
will be received until 12 m.April 15 by H. L. Ralston, VII. Clerk,
Date April 15 1929 i ncl. $500 Mch. 1 in 1930, 1931 and 1932, *500 yriy. Sept. 1 from
5% water-works-ext. bonds. Auth. Sec. 3939, Gen. Code.
and 1938. Bonds to be
1937
1936,
in
1
PurSept.
1915.
$1,000
and
1914
and
1913,
15
incl.
'
1935
to
Aprll
on
1932
1912. Int. semi-ann. Date $500
check for 5% of
delivered and paid for on or before April 15 1912. Cert.
chaser to pay accrued interest.
L. Means is Co. Aud.
Voted.-By a vote bid, payable to the Commissioners, required. John
FRIDAY HARBOR, San Juan County, Wash.-Bonds
Offering.-Pro-Bond
Minn.
(opt.) waterKANDIYOHI COUNTY (P. 0. Willmar),
of 212 to 17 the question of issuing $16,000 4 % 5-20-yearwill be offered
by J. Fehr,
posals will be received, it is stated, until 2:30 p. m. Apr. 30
system bonds carried at an election held March 5. Bonds
5%)semi-ann.
exceed
to
not
(rate
Int.
bonds.
ditch
Co. Aud., for $85,000
for sale after April 8.
$2,000
required.
for
check
Cert.
will
-Proposals
Offering.
-Bond
Fla.
• GAINESVILLE. Alachua County,
of Bonds.-The
bonds.
KANKAKEE, Kankakee County, 111.-Description Halsey
be received until April 29, it is stated, for $125,000 5%
& Co. of
on March 8 to N. W.
Bergen County, N. J. $45,000 5% bldg. bonds awarded
the voters at an
by
issue
GARFIELD SCHOOL DISTRICT (P. 0. Garfield),
the
of
approval
to
the
subject
102.81,
at
m. April 18 by the Chicago
p.
8
until
received
be
will
-Proposals
$1,000
of
denom.
Offering.
the
be in
-Bond
bonds. Denom. (1) election to be held April 16 (V. 94, p. 865), will from July 1 1913 to1923.
Board of Ed. for $62,000 5% coup. tax-free bldg.
J. & J. at the First Nat. each. Date.Jan. 11912. Int. J.& J. Due part yriy.
$2,000 and (15) $4,000 Date July 1 1912. Int. $4,000
-The
yriy. July 1 from
KENT COUNTY (P. 0. Grand Rapids), Mich.-Bond Election.
Bank of Garfield. Due $2,000 July 1 1920 and
national bank proposition to issue $600,000 20-yr. road-impt. bonds will be submitted
1921 to 1935 incl. Cert. check on an incorporated State or
Educa- to a vote on April 1. Int. (rate not to exceed 4%%) semi-annual.
or trust company for 5% of bonds bid for, payable to the Board of
tion, required.
KERNERSVILLE, Forsyth County. No. Caro.-Bond Election.-Local
Offering.-Proposals papers state that the question of issuing $5,000 electric-light-plant bonds
GLADSTONE, Clackamas County, Ore.-Bond
for
Recorder,
City
Sievers,
will be submitted to a vote on April 9.
will be received until 7:30 p. m. April 9 by J. N.
$20,000 6% coup. water-system bonds. Denom. $500. Int. semi-ann.
KERSHAW COUNTY (P. 0. Camden), So. Car.-Bond Offering.24 by M. C. West, County
GLOVERSVILLE, Fulton County, N. Y.-Bond Offering.-Further Proposals will be received until 12 m. April
tax-free refunding bonds. Date
details are at hand relative to the offering on April 9 of the $38,300 4% Supervisor, for $95,000 5% 20-yr.check for
required.
$1,000
will
coup'
bonds
at
be
Cert.
These
offered
865).
N.
&
May 1 1912, Int. M.
coup. street impt. bonds (V. 941.
Everest, City Chamberlain.
Wash.-Bond Offering.
public auction at 2 p. m. on that ay by 0. L.by
KING COUNTY SCHOOL DISTRICT NO. 161,
534,
1902.
Chap.
Laws
amended
as
1899,
Laws
H. Hanna, Co. Treas.
by
275,
W.
6
April
m.
Chap.
a.
11
Auth.
in February at the Proposals will be received until
bldg. bonds. Auth., election held Mch. 2.
Denom. $100 and $1,000. Date Feb. 11012. Int.1ann.
coup.
$10,000
for
0.
Seattle),
(P.
yr., $7,800 in 2 yrs.,
in
Fourth Nat. Bank of New York. Due $8,600 in
not to exceed 6%) ann. at the Co. Treas, office
5 yrs. Bonds are tax- Denom. $500. Int. (rate
New York, at option of purchaser. Due
$7,500 in 3 yrs., $7,300 in 4 yrs. and $7,100
Purch, to pay accrued or fiscal agency of the State inany interest-paying date. Cert. check or
yrs. at
exempt in New York State. No deposit required.
2
after
opt.
years,
15
purchasers.
suit
to
lots
in
sold
be
will
the Co. Treas., required with all bids exto
int. Bonds
draft for 1% of bonds, payable
Idaho.-Bond Sale.-On March 18 $60,- cept that-of the State of Wash. Bonds will be ready for delivery May 1.
GOODING, Lincoln County, -building
were
it
bonds
is
warrants, $41 25. Assess. val.,
awarded,
stated,
Outstanding
$2,000.
debt,
school
Bonded
000 5 A% 10-20-yr. (opt.)
making the pile° 103.046.
$284,867.
to E. H. Rollins & Sons of Denver for $61,828,
Offering.-Further details
-Bond
Prowers
Colo.
Y.
County,
DISTRICT,
LACKAWANNA, Erie County, N.
GRANADA-HOLLY IRRIGATION
4 34% tax-free
-Bonds Voted.-An election held March 23 resulted, it is stated, in favor are at hand relative to the offering on April 1 of the $75,000
bonds.
Proposals for these bonds
p.
drainage
865).
94,
(V.
bonds
jail-bldg.
and
city-hall
$2,100,000
of the proposilton to issue
City Clerk.
Monaghan,
J.
J.
-An election will be received until 8 p. m. on that day by
GRAND RAPIDS, Kent County, Mich.-Bond Election.
1
$100,000 20-yr. water- Auth., Chap. 574, Sec. 86, Laws of 1909. Denom. $1,000. Date June
will be held April 1 to vote on the question of issuing
Due
Lackawanna.
Bank,
Nat.
at
the
Lackawanna
D.
&
J.
Int.
1912.
main-ext. bonds at not exceeding 43i% int. Int. semi-annual.
1 from 1913 to 1927 incl. Cert. check for $5,000, payJune
yearly
$5,000
11
March
tho
GRANDVIEW, Yakima County, NVash.-Bond Sale.-On
is stated, able to the City Treas., required.
$18,000 20-yr. water-works bonds(V.94, p. 647) were awarded, itand
int.
LAFAYETTE, Nicolett County, Minn.-Bond Election.-Reports state
to the Grandview State Bank in Grandview for $18,191 (101.061)
that a proposition to issue $7,000 4% water-works bonds will be submitted
GRANTS PASS, Josephine County, Ore.-Bonds Voted.-The election to a vote on April 4.
Issue
to
held March 15 resulted, it is stated, in favor of the proposition
LANARK SCHOOL DISTRICT NO. 43 (P. 0. Lanark), Carroll County.
$80,000 refunding bonds.
III-Bonds Voted.-Local papers state that at an election held recently
GREENE COUNTY (P. 0. Xenia), Ohio.-Bond Offering.-Proposals
the proposition to issue $15,000 bldg.-impt. bonds carried by a vote of
will be received until 10 a. m. April 19 by the Bd. of Co. Commrs. for $40,$500. Date 171 to 115.
000 4% coup. bonds. Auth. Sec, 5656, Gen. Code. Denom.
-On March 20
each six
LARCHMONT, Westchester County. N. Y.-Bond Sale.
April 1 1912. Int. A. & 0. at the Co. Treas. office. Due $2,000
a bank in the $50,000 5-29-yr. (ser.) road-impt. bonds (V. 94, p. 781) were awarded
months from April 1 1916 to Oct. 1 1935 incl. Cert. check on
Us.
4
for
Int.
and
100.271
at
Y.
N.
of
Co.
&
be
Day
to
L.
to R.
Xenia for 31,000, payable to the Co. Commrs., required. Bonds
La Salle County,
LA SALLE SCHOOL DISTRICT (P. 0. La Salle),
paid for within 5 days from date of sale.
June 6 for $40,000 4 i'ro
Montcalm -Bond Offering.-Proposals will be received until
GREENVILLE SCHOOL DISTRICT NO. 1 (P.O. Greenville).
to 19 at an election held March 23.
170
of
vote
Authority,
bonds.
bonds
bldg.
building
15-yr.
-On
Sale.
5%
22
March
$40,000
County, Mich.-Bond
Due from 7 to 20 years.
were awarded to LeRoy W. Ranney at 111.2125-a basis of about 3.999%. Interest semi-annual.
Ala.-Bonds Voted.-A propoLAWRENCE COUNTY (P. 0. Moulton),carried,
Denom. $1,000. Date April 1 1912. Int. ann. in April.
reports state, by a vote
25 sition to issue the $120,000 turnpike bonds
HADDONFIELD, Camden County, N. J.-Bond Sale.-On March
held March 18 (V. 94. P. 721).
election
the
at
to
603
857
of
awarded
were
721)
street-impt.
bonds
94,
p.
(V.
30-yr.
the $150,000 4
to
Be
-Bonds
Offered
Shortly.-We are
LIBBY, Lincoln County. Mont.
to M. M. Freeman & Co. of Phila. at 101.02 and int. A bid of 100.802 was
advised that the $15,000 6% sewer-construction bonds voted recently
also received from Harris, Forbes dc Co. of New York,
years, optional
20
sale
at
for
Due
once.
advertised
be
p. 781) will
HALLS, Lauderdale County, Tenn.-Bonds Voted.-13y a vote of 127 (V. 94, years.
to 77 the question of issuing $15,000 street-impt. bonds carried, it is re- after 10
until 12 in.
will
be
received
-Proposals
Offering.
LINCOLN, Neb.-Bond
ported, at an election held March 16.
it is stated, for $37,300 1-10-yr. (ser.)
Ohio.-Bond Sale.-Local Apr. 20 by 11. G. Ozman, City Clerk,
check
HAMILTON COUNTY (P. 0. Cincinnati)
Cert.
int.
semi-ann.
Int.
5%
not
exceeding
at
bonds
paving
papers state that on March 22 the County Sinking Fund Trustees pur- for
$100 required.
chased $280,175 of an issue of $2,500,000 court-house-bldg. bonds.
Dak.
No.
County.
• LISBON SCHOOL DISTRICT (P.0. Lisbon). Ransom
HANCOCK. Houghton County, Mich.-Bond Election.-An election will -Bonds
Voted.-According to reports, propositions to issue *16,000 4%
•
be held April 1 to vote on the question of issuing $10,000 fire-station bonds bldg. bonds and $5,000 refunding bonds carried at a recent election.
at not exceeding 6% interest.
will be reEASTON, Talbot County, Md.-Bond Offering.-Proposals
$34,000
ceived until 4 p. m. April 11 by J. S. McDaniel,Town Clerk, for
to
4% street-impt. bonds (V. 93, p. 1738). This issue originally amounted
$100,
(10)
Denom.
canceled.
was
1911
$35,000, but $1,000 due July 1
(2) $500 and (32) $1,000. Date July 1 1910. Int. J. & J. Due $1,000
from State.
yearly July 1 from 1912 to 1945, incl. Bonds are exempt
required. The
county and municipal tax. A deposit of 2% of the bid priceby
W. C. Bruce
legality of these bonds has been passed upon and approved
of Baltimore City.
County, Pa.-Band
EDWARDSVILLE (P. 0. Wilkes-Barre), Luzerne
m. April 1 for $17,000 5%
Offering.-Proposals will be received until 12
1 1912. Int.semiApril
Date
$500.
Denom.
bonds.
coup. tax-free impt.
to 1918 incl.,
ann. Due on April 1 as follows: $1,000 yearly from 1913
$2,000 in 1919, *1,000 in 1925, $2,500 in 1926, $3,500 in 1927 and $2,500
In 1928.
Certificate Offering.-Proposals will be received at the same time for
$4,500 5% 5-year coup. certificates of indebtedness.
a short
EL RENO,Canadian County% Okla.-Correction.-We announced
time ago (V. 94, p. 647) that'reports state" this city has authorized the
issuance of $35,000 deep-well-drilling bonds. We now learn that no new
bonds have been authorized, and that the newspaper accounts referred to
relate to the $35,000 bonds sold last November to Hoehler & Cummings
of Toledo.
ESSEX JUNCTION SCHOOL DISTRICT (P. 0. Essex Junction), Chittenden County, Vt.-Bonds Defeated.-An election held March 2 resulted
In the defeat of the proposition to issue $30,000 bldg. bonds. The vote
was 50 "for" to 76 "against."
25 the
EUCLID, Cuyahoga County, Ohlo.-Bond Sale.-On March awarded
$20,602 4 54% water-main assess. coup. bonds (V. 94, p. 504) were
and
(101.40)
43
$20,890
for
to the Tlliotson & Wolcott Co. of Cleveland
Interest. Other bids follow:
Premium.Premium.
__ _$212 00
Hayden, Miller & Co., Cleve_$260 00 Otis & Hough, Cleveland_
208 80
Seasongood & Mayer, Cin___ 245 00 Stacy & Braun. Toledo
00
217
New First Nat. Bank. Col_
Cal.
County,
Humboldt
Eureka).
EUREKA SCHOOL DISTRICT (P 0.
to issue $150,000 4;i%
-Bonds Defeated.-We are advised the proposition
held March 20
election
the
at
defeated
was
bonds
20-year high-school
(V. 94, p. 780).
(P. 0. Fort Dodge), Webster
FORT DODGE SCHOOL DISTRICT
proposition to issue $50,000 bldg. bonds
County, Iowa.-Bonds Voted.-A 11
p. 721).
94,
(V.
March
held
election
carried at the
Ohio.-Bond' Sale.-On
FRANKLIN COUNTY (P. O. Columbus),
for
the four issues of 4 A% road
received
were
bids
March 20 the following
impt. bonds aggregating $80,800 (V. 94, p. 720).
$3,800
$11,000
$36,000
$30,000
Issue.
Issue.
Issue.
Issue.
$3,851 00
Davies-Bertram Co., Cin___•$30,496 •$36,571 00 $11,167 00
12
3,847
40
60
"11,169
36,561
30,492
Cin
Breed & Harrison,
•3,857 00
Buckeye Stamping Co., Col_
3,852 00
11,157 00
36,530 00
30,478
Barter, Scott & Co., Col
3,849,00
11,163 00
36,533 00
30,459
New First Nat. Bank, Col
30,450
Ohio National Bank, Col_
-3,840-86
'
11.128 70
-00,
500
36,
30,400
Cloy.
Co.,
Wolcott
&
Tillotson
3,833 00
11,121 00
36,417 00
30,363
Hayden, Miller & Co., Clev
11,123 20
36,408 80
Mayer, Deppe & Walter, Cin_ 30,351
00 -3,830 00
11,110
00
36,360
30,321
Cleveland_,_
Hough,
Otis &
(for all issues) $81,838 28
Western German Bank, Cin
932
THE CHRONICLE
LITTLE RIVER DRAINAGE DISTRICT. Pottawatomie County, Okla.
-Purchaser of Bonds.-The purchaser of the $50,000
5% 20-year drainage
bonds sold on Feb. 19 (V. 94, p. 781) was the Oklahoma
State Bank of
Oklahoma City at par and int. Denom. $1,000. Date March
1 1912.
Interest May and November.
•
- • • • • • • • • • • , • g 'J -1 • la
LORAIN, Lorain County, Ohio.-Bond Sale.-On March 22 the following
premiums were offered for the two issues of 4%% coup. refunding
bonds
aggregating $58,808 78 (V. 94, p. 648):
$44,362 53 $14,446 25
paving bonds. sewer bonds.
New First Nat. Bank, Columbus
$989 00
$246 00
Stacy & Braun, Toledo
848 65
206 69
C. E. Denison da Co., Cleveland
848 00
235 00
Well, Roth & Co., Cincinnati
842 90
231
15
Rudolph Kleybolte Co., Inc., Cincinnati
811 94
221 03
Hayden, Miller & Co., Cleveland
804 00
220 00
Breed & Harrison, Cincinnati
727 55
175 22
Western German Bank, Cincinnati
726 00
189 00
Otis & Hough, Cleveland
530 00
110
00
Security Say. Bank ea Trust Co., Toledo
260 50
LYME TOWNSHIP (P. 0. Bellevue), Huron County, Ohio.-Bond Sale.
-On March 23 the $15,000 43% coup. road-impt. bonds (V. 94, p. 721)
were awarded to the New First Nat. Bank of Col. at 102.53 and interest.
Other bids follow:
Barto, Scott & Co., Col _____ $15,376 Seasongood & Mayer, Ctn. __$15,157
Hayden, Miller & Co., Clay__ 15,282 S. A. Kean & Co., Chicago__ 15,000
Otis & Hough, Cleveland__ __ 15,210
MARLBORO, Middlesex County, Mass.-Temporary Loan.-A
of
$50,000 due Feb. 5 1913 was negotiated on March 23 with Curtis &loan
Sanger
of Boston at 3.72% discount and 50 cents premium.
MEAGHER COUNTY SCHOOL DISTRICT:NO. 11, Mont.-Bonds Not
Sold.-We are advised that no award has been made of $1,600 6% bonds
offered on Feb. 29.
Lxxxxiv.
Seasongood & Mayer, Cln_55,416 50j Well, Roth & Co., Cln_$5,375
50
Provident Savings Bank &
I First Nat. Bank, Norwood_ 5,209 99
Trust Co., Cincinnati__ 5,405 00 Oakley Bank, Oakley
5,189
99
Atlas Nat. lank, Cln
5,395 00
OAKMONT SCHOOL DISTRICT (P. 0. Oakmont), Allegheny
County,
Pa.-Bond Offering.-Proposals will be received until 3 p. in. April 10
by
M. W. Bottomfield, Treas., for the $110,000 4% coup. or reg.
bonds
(V. 93, p. 1416). Denom. $1,000. Date May 1 1912. Int. semi-ann.
at
the First Nat. Bank in Oakmont, subject to no deduction for State tax in
Pa. Due $18,000 in 1917, 1922, 1927, 1932 and 1937 and $20,000 in 1942.
Cert. check for 2% of bid, payable to "Oakmont Sch. Dist.," is required.
Tinili::3 of this bond offering will be found among the advertisements elsewhere in this Department.
OCEANSIDE SCHOOL DISTRICT, San Diego County, Cal.-Bond Sale,
-On March 18 $6,000 school bonds were awarded, It is stated, to G. C.
Stephens & Co. of San Diego for $6,269, making the price 104.483.
OMAHA, Neb.-Bonds Authorized.-An ordinance was
March 12
providing for the issuance of $400,000 434% coup, parkpassed
renewal bonds,
series 1912. Denom. $1,000. Date June 1 1912. Int. J.
& D. at the
fiscal agency of the State in New York. Due June 1 1932.
ORANGE COUNTY (P. 0. Hillsboro), No. Caro.-Bonds Voted.-A
favorable vote was polled March 19, it is stated, on the proposition to issue
the $250,000 road-const. bonds (V. 94, p. 722).
OROVILLE GRAMMAR SCHOOL DISTRICT (P. 0. Oroville), Butte
County, Cal.-Bonds Voted.-The proposition to issue $45,000 5% bldg.
bonds carried by a vote of 476 to 152 at an election held March 16 (V. 94.
p. 579). Interest semi-annual.
OXNARD. Ventura County. Cal.-Bond Election.-A vote will be taken
on April 5 on propositions to issue $30,000 street-lighting-system and
$100,000 water-works-system 5% 40-year bonds.
PARIS, Lamar County. Texas.-Bond Sale.-N. W. Halsey & Co. of
MEDFORD. Middlesex County, Mass.-Temporary Loan.-On
26 Chicago have been awarded at 101.13 and int. $15,000 (the unsold portion
a loan of $100,000, due $50,000 Nov. 27 1912 and $50,000 Dec.March
of an issue of $35,000) 5% 10-50-year (opt.) water-works bonds (V. 94, p.
18
1912,
was negotiated with Curtis & Sanger of Boston at 3.76% discount and 506). Denom. $1,000. Date Oct. 10 1911. Interest F. & A.
50 cents premium.
PASADENA, Los Angeles County, Cal.-Bond Offering.-Proposals
MIAMI COUNTY (P. 0. Troy), Ohio.-No Action Yet Taken.-We are will be received until April 15, reports state, for the $60,000 4 M% garbageincinerator and site bonds voted Feb. 7 (V. 94, p. 506).
advised, under date of March 21, that no definite action has yet been
taken looking toward the issuance of the $200,000 road bonds recently
PAULDING COUNTY (P.0. Paulding), Ohio.-Bond Sale.-On Mch. 22
authorized (V. 94, p. 505).
the three issues of 5% coupon road bonds aggregating $62,500 (V. 94.
P•
722) were awarded to Mayer, Deppe & Walter of Cincinnati for $64,444
13
MIDDLESEX COUNTY (P. 0. New Brunswick), N. J.-Bond Sale.- (103.11) and interest.
Other bids follow:
On March 25 the $10,000 4% renewal bonds (V. 94, p. 781) were awarded FarmersBkg.Co.,Paulding.$64,37
4
001Seasongood
& Mayer, C111364,329 35
to F. M. Donoline, Sinking Fund Commissioner, New Brunswick, at par Stacy & Braun, Toledo
_ - 64,368 101
and in
Denom. $1,000. Date Feb. 15 1912. Int. F. h A. Due.part
PIPESTONE COUNTY SCHOOL DISTRICT NO. 2, Minn.-Bonds Voted.
yearly Feb. 15 from 1921 to 1930 incl.
-The question of issuing $16,000 4% bldg. bonds carried by a vote of 140
MILLBRAE SCHOOL DISTRICT (P. 0. Millbrae), San Mateo County. to 14 at an election held March 12. We are advised
that these bonds will
Cal.-Description of Bonds.-The $15,000 5% 1-15-year (serial) building
be sold to the State of Minnesota.
bonds awarded on March 4 to N. W. Halsey & Co. of San Francisco at 102.11
PITTSBURG SCHOOL DISTRICT (P. 0. Pittsburg), Crawford County,
-4.63% basis-(V. 94, p. 781) are in the denom. of $1,000 each and dated
Kan.-Bond Sale.-Papers state that H. T. Holtz & Co. of Chicago were
March 4 1912. Interest M. & S.
awarded at 102.055 the $20,000 43(% 20-yr. bldg. bonds voted Jan. 30
MINNEAPOLIS, Minn.-Bond Sale.-Newspaper dispatches state that (V. 94, p.• 430), it is stated.
on March 28 the five issues of 4% coup. or reg. 30-yr. bonds (V. 94, p.
POCAHONTAS COUNTY (P. 0. Pocahontas), Iowa.-Bond Offering.
721)
were awarded as follows: $100,000 permanent impt. bonds
Wells The Board of County Supervisors will offer for sale at 1 p. m. April 17 at
& Dickey Co. of Minneapolis at 98.55, and the remaining issuestotothe
the Min- the County Auditor's
nesota Loan & Trust Co. and Northwestern Nat. Bank in
office,
approximately
$360,000
bonds.
drainage
8%
Minneapolis,
which bid jointly as follows: 99.40 for $200,000 bridge bonds,
98.51 for J. A. Terry is County Auditor.
$175,000 sewer bonds, $100,000 park bonds and $500,000 grade-school
The official notice of this bond offering will be found among the advertisebonds, and par and $1 premium for $100,000 permanent impt. bonds.
ments elsewhere in this Department.
MISHAWAKA: St. Joseph County, Ind.-Bond Offering.-Proposals
POPE COUNTY (P.0. Golconda), Ill.-Bonds Offered by Bankers.-H.T.
will be received until April 1, it is stated, for $70,000 4% funding bonds.
Holtz & Co. of Chicago are offering to investors $10,000 4% 1-10-year
jail bonds. Denom. $100. Date Jan. 1 1912. Interest J. & J. at
MORROW COUNTY (P. 0. Mt. Gilead), Ohio.-Bond Offering.-Pro- (serial)
posals will be received until 11 a. in. April 12 by the County Comm'rs for the Fort Dearborn National Bank in Chicago. No other debt. Assessed
$4,480 434% coupon Cardington Free Turnpike No. 1 refunding bonds. valuation, $1,791,484.
Auth. Sec. 7232 to 7309, incl., Chap. 8, Title 4, Part 2, Gen. Code; and
PORT WILLIAM SCHOOL DISTRICT (P. 0.
William), Clinton
Sec. 6956-16, Laws of Ohio, V. 102, p. 506. Denom. $440, $540 and $500. County, Ohio.-Bond Sale.-On March 15 $12,500Port
4 yi % building bonds
Date March 1 1912. Interest annually in March (except bond No. 1, the (mentioned in V. 94, p. 389) were awarded to the Clinton County National
interest on which will be payable Sept. 1 1912). Due $440 Sept. 1 1912, Bank in Wilmington for $12,841 (102.72) and interest. Denom.
$250.
$540 March 1 1914 and $500 yearly March 1 from 1915 to 1920, incl. Bonds Date March 15 1912. Interest M. & S. Due in 1933.
to be delivered and paid for within 5 days after time of award. Bids must
PREELE COUNTY (P. 0. Eaton), Ohio.-Bond Sale.-On March 2
be unconditional. Certified check on a bank in Morrow County for 10% $6,962
of bonds bid for, payable to Clifton Sipe, Auditor, required. Proposals making434% bonds were awarded to G. M. Spacht of Eaton for $6,709 47,
the price 96.37. Interest M. & S. Due part each six months
must be made on blanks furnished by the Auditor.
beginning Sept. 6 1912.
MORTON TOWNSHIP, No. Dak.-Bonds Voted.-Blsmarek papers
QUINCY. Norfolk County, Mass.-Bond Sale.-On March 22 $50,000
state that a proposition to issue $1,200 school-building bonds carried at a 4%
9-yr. (ay.) coup. water loan of 1911 bonds were awarded to Blake Bros.
recent election.
& Co. of Boston at 103.11 and int.-a basis of about 3.593%. Other bids
follow:
MOUNT VERNON. Westchester County, N. Y.-Bond Sale.-On March
25 the $250,000 43% 55.7-year (ay.) reg. school bonds (V.94, p.781) were Adams & Co., Boston
102.915 Estabrook h Co., Boston_ _ _102.409
awarded to Estabrook & Co. of N. Y.at 101.876 and int. Other bids follow: E. H. Rollins & Sons, Boston 102.796 Blodget & Co., Boston
102.16
Dominick & Dominick,
Wm.A. Read&Co.,N.Y _$253,325 00 Curtis & Sanger, Boston__ _102.52
New York
Denom. $1,000. Date March1 1912. Int. M. & S. in Boston. Due
$254,379 29 E.H.Rollins & Sons, N.Y.252,977 50
A. B. Leach & Co., N. Y_ 254,197 50 W. N. Coler da Co., N.Y_ 252,875 00 $3,000 yrly. Mch. 1 1913 to 1927 incl. and $1,000 yriy. Mch. 1 1928 to
JohnD.Everitt&Co.,N.Y. 254,000 00 Clark, Dodge&Co., N. Y. 252,840 00 1932 incl.
R. L. Day & Co., N. Y
253,977 50 Douglas Fenwick & Co.,
Bond Offering.-Proposals will be received until 12 m. April 2 by H. F.
Kountze Bros., N. Y
253,807 50
New York
252,067 50 Tilden, City Treas., for $40,000 4% coup. sewer loan Act of 1911 bonds.
Harris, Forbes & Co.,
Ferris & White, N. Y
252,025 00 Denom. $1,000. Date March 1 1912. Int. M. & S. in Boston. Due
New York
253,557 50 Curtis & Sanger, N. Y.... 251,910 00 $2,000 yearly March 1 from 1913 to 1922 incl. and $1,000 yearly March 1
NACOGDOCHES. Nacogdoches County, Tex.-Bonds Voted.-The ques- from 1923 to 1942 incl. The bonds will be certified as to genuineness by
tion of issuing $65,000 electric-light-plant, sewerage and street-paving bonds the Old Colony Trust Co. of Boston, which will further certify that the
legality of this issue has been approved by Ropes, Gray & Gorham of Bosreceived a favorable vote, it is stated, at an election held March 19.
ton, a copy of whose opinion will accompany the bonds when delivered
NASHVILLE, Davidson County, Tenn.-Bond Election.-An election without charge to the purchaser.
will be held April 27 to vote on the question of issuing $200,000 marketRACINE, Racine County, Wis.-Bonds Authorized.-Local papers state
house improvement and $150,000 street and bridge improvement 434%
that the City Council recently authorized the issuance of $26,000 school30-year bonds.
site bonds.
NAYLOR DRAINAGE DISTRICT NO. 1, Ripley County, Mo.-Bond
READING. Hamilton County. Ohio.-Bond Election.-Papers state that
Sale.-On Feb. 6 $32,676 84 6% bonds were awarded to Farson, Son & Co.
of Chicago at par. Denom. (64) "$500 and (1) $676 84. Interest semi- an election will be held April 2 to vote on a proposition to issue $35,000
annually at the County Treasurer's office. Due $1,676 84 in 1914, $1,500 sewer bonds.
yearly from 1915 to 1924 incl. and $2,000 yearly from 1925 to 1932 incl.
RICEVILLE SCHOOL DISTRICT (P. 0. Riceville), Mitchell County,
NEW DECATUR, Morgan County, Ala.-Bond Sale.-We are advised Iowa.-Bonds Voted.-An election held Fob. 5 resulted in a vote of 135 to
that Goodrich & Crinkly, contractors, have sold to the Bessemer Nat. Bank 74 in favor of the proposition to issue $11,000 454% 10-year building
in Bessemer the $14,700 impt. bonds dated Dec. 1 1911 (V. 93, p. 1550) bonds. We are advised that these bonds will be sold at private sale.
and the $10,900 paving bonds dated Feb. 1 1912 (V. 94, p. 506).
RIDGEFIELD PARK. Bergen County. N. J.-Bond Sale.-On March 26
NEW ORLEANS. La.-Bonds Authorized.-Local papers state that on the $42,000 5% 203-(-year coup. (with priv. of reg.) funding bonds (V. 94,
March 21 the Commission authorizedthe issuance of $300,000 5% bonds for p.867) were awarded to C. H. Venner & Co. of N. Y. at 107.58. Other bids:
the extension and betterment of the Public Belt RR. These bonds are N. W. Halsey & Co., N. Y___107.285 R. M. Grant & Co., N. Y__ _ _106.373
the first to be offered for sale under the Act of the Legislature which author- Spitzer. Rorick & Co., N. Y_107.276 First Nat. Bank, Ridge. P'k_106.00
izes the Commission to issue $2,000,000, and are to be divided into three Harris, Forbes & Co., N. Y__106.821 Adams & Co., N Y
105.931
Taylor & Co.,Kean
N. Y__106.675 Kountze Bros., N Y
series containing 250 bonds of $100 each, 50 of $500 each and 50 of $1,000
105.882
each. Series A will mature July 1 1958, series B July 1 1957 and series C A. B. Leach & Co., N. Y _ .._ _106.579
July 1 1956. The entire issue may be redeemed at par and accrued interest
RIDGEFIELD TOWNSHIP, Huron County. Ohio.-Bond Sale.-On
July 1 1939. Interest is to be paid semi-ann. The bonds, principal and March 25 $10,000 5% bonds were awarded to the New First Nat. Bank of
interest, are to be paid by preference from the revenues of the Public Belt Columbus at 107.27. Other bids follow:
RR., after deducting the expenses of operation and maintenance, and all Barto, Scott & Co., Col _____ $10,6071Seasongood & Mayer, Cin_ $10,505
revenues are pledged to secure the bonds and interest. If the revenues Hayden, Miller & Co., Cleve_ 10,5681S. A. Kean & Co., Chicago
10,150
of the road shall be insufficient for the purpose stated, then a special tax
Denom. $500. Date March 1 1912. Int. M. & S.
of two mills shall be levied, It is said, upon all the taxable property of the
-Note
Sale.
-On
ROCHESTER, N. Y.
March 27 the $150,000 8-month
city on and after Jan. 1 1943, and the entire proceeds of the tax shall be notes
(V. 94, p. 867) were awarded to Luther Robbins of,Rochester at 4%
applied to the redemption of the bonds, principal and interest.
interest and 313 premium. Other bids follow:
NIAGARA FALLS, Niagara County, N. Y.-Bond Sale.-On March 2r- Irving Nat. Exchange Bank, N. Y..4.10% interest
the $17,000 4% 18-year water "Series A" bonds (V. 94, p. 866) wer
H. Lee Anstey, New York
4.25% int. and $10 premium
awarded to Adams & Co. of N. Y. at 103.32353 and int.-a basis of abou
Goldman, Sachs & Co., N. Y _____ _4.25% int. and $7 50 premium
3.745%. Bids of par and accrued interest were received from Douglas
Bond & Goodwin. New York
-4.33% int. and $11 premium
Fenwick & Co. and R. M. Grant & Co. of N. Y.
ROCKPORT VILLAGE SCHOOL DISTRICT, Cuyahoga County. Ohio.
NILES, Trumbull County, Ohio.-Bond Sale.-On March 20 the $8,200 Bond Offering.-Proposals will be received
12 in. May 1 by W. J.
43i% coup. sewer assess. bonds (V. 94, p. 648) were awarded to Barto, Featherstone, Clerk Bd. of Ed. (P. 0. Westuntil
Park), for $20,000 5% bldg.
Scott & Co. of Col. for $8,295 75 (101.167).
bonds. Auth. Secs. 7625, 7626 and 7627, Gen. Code; also election held
March 11 1912. Denom. $1,000. Date May 1 1912. Int. A. & 0. at the
NORTH HEMPSTEAD (P. 0. Manhasset), Nassau County, N. Y.
Bond Offering.-Proposals will be received until 2 p. m. April 2 by P. J. Dist. Treas. office. Due $1,000 yearly Oct. 1 from 1921 to 1940, incl.
Christ, Supervisor, it is stated, for $145,000 5-20-yr. (ser.) water bonds at Cert. check for 10% of bonds bid for, payable to the Dist. Treas., required.
not exceeding 5% int. Int. semi-ann. Cert. check for $2,000 is required.
ROSCOE SCHOOL DISTRICT (P.O. Roscoe), Coshocton County. Ohio.
OAKLEY VILLAGE SCHOOL DISTRICT (P. 0. Oakley), Hamilton -Bonds Voted.-A favorable vote was cast on March 25, it is stated, on the
County, Ohio.-Bond Sale.-On March 22 the $5,000 454% 40-year coup. question of issuing $10,000 school-building bonds.
tax-free bonds (V. 94, p. 722) were awarded to Mayer, Deppe & Walter of
ST. ANTHONY SCHOOL DISTRICT (P. 0. St. Anthony) Marshall
Cin. at 109.025 and int.-a basis of about 4.044%. Other bids follow:
County. lowa.-Bond Offering.-Proposals will be received until April 17
election held
for $10,000 5% bldg. bonds. Authority vote of 69 to 4 at an
Feb. 21.
35 (P. 0.
NO.
DISTRICT
SCHOOL
COMMON
ST. LOUIS COUNTY
received until 8 p. m.
Buhl), Minn.-Bond Offering.-Proposals will be 5% bldg. bonds. DeApril 9 by G. R. Barrett, Dist. Clerk, for $100,000
1 1915
nom. $1,000. Date May 11912. Int. M. & N. Due $10,000 May
check on a
and 1916 and $20,000 yriy. May 1 from 1917 to 1920 incl. Cert.
the District
State or national bank in St. Louis Co. for $2,000, payable to
Treas., required.
Nat. Bank
A similar issue of bonds was awarded on Feb. 5 to the First
of Chicago (V. 93, p. 506).
NO.24(P.O. Biwabik), Minn.
ST. LOUIS COUNTY SCHOOL DISTRICT
be received until 8 p. m. April 9 by F. S.
-Bond Offering.-Proposals will $125,000
bonds at not exceeding
school
for
Board,
Dane, Clerk School
F. & A., except the first installment of
6% int. Date April 1 1912. Int. Aug.
1 1912. Due $14,500 Aug. 1 1917
to
interest, from the date of bonds
1919 to 1926 incl. Cert. check
and 1918 and $12,000 yearly Aug. 1 from
required.
for $2,000, payable to O. E. Everett, Treas.,
-Bonds Voted.-By a vote of
Texas.
County,
SAN ANGELO. Tom Green
$50,000 5% 20-40-year (opt.) street-imp t
425 to 36, the proposition to issue
bonds carried at an election held March 19.
Offering.-Proposals will be received until
SAN FRANCISCO,Cal-Bond Clerk Board of Supervisors, for $400,000
3 p. m. April 8 by J. S. Dunnigan,
July 1 1910. Int.
Geary Street Ry. bonds. Denom. $1,000. Dateof
4 ;•6
San Francisco in
or at the fiscal agency
° at the City Treas. office of
J. &J.
yearly from
Due
$20,000
holder.
the
New York City, at the option
all taxation in California. Bids
1915 to 1934 incl. Bonds are exempt from
by
be
accompanied
city
and
the
by
furnished
form
blank
a
on
must be made
Clerk of the
a cash deposit or certified check for 5% of bid, payable to the
of
Board of Supervisors. Deposit need not exceed $10,000. The legality
the bonds has been approved by Dillon & Hubbard of New York City, a
copy of whose opinion will be delivered to the purchaser. The bonds to be
delivered and paid for within 10 days after the adoption of the resolution of
award. Purchaser to pay accrued interest. Bids to be unconditional.
SAN FRANCISCO, Cal.-Bonds Voted.-The proposition to issue the
$8,800,000 city-hall and civic-centre bonds (V. 94, p. 430) carried at the
election held March 28, according to reports.
SANGER UNION HIGH SCHOOL DISTRICT, Fresno County, Cal.
Bond Offering.-Local papers state that the Boatel of Supervisors will offer
for sale on April 12 the $60,000 25-year building bonds voted Feb. 28
(V. 94, p. 782).
Sale.-On
SAN JOAQUIN COUNTY (P. 0. Stockton), Cal.-Bond
March 26 the $250,000 5% highway bonds (V. 94, p. 723) were awarded to
N. W. Halsey & Co. of San Francisco at 106.8252.
SANTA MARIA, Santa Barbara County, Cal.-Bond Sale.-On March 18
$75,000 5% sewer bonds were awarded to J. H. Adams & Co. of Los Angeles
for $75,970 (101.293) and int. Denom. $1,000. Date Jan. 1 1912. Int.
3. & J. Due $2,000 yearly.
SCHUYLER, Herkimer County, N. Y.-Bond Sale.-On March 20 the
$12,529 66 6 1-3-yr. (ay.) road Ponds (V. 94, p. 782) were awarded to
W. N. Coler & Co. of N. Y. for $12,571 75, making the price 100.33 for
49is. Denom. (7) $1,500 and (1) $2,029 66. Date March 1 1912. Int.
annually in March.
SCOTT COUNTY (P. 0. Forest), Miss.-Bonds Voted.-The proposition
to issue the $75,000 6% road-const. bonds in Supervisor's Dist. No. 1
(V. 94, p. 649), carried, it is stated, at an election held March 20.
,
SCOTTS BLUFF, Scotts Bluff County, Neb.-Bond Offering.-Proposals
will be received until April 15 for $12,000 5% sewer bonds. Authority,
vote of 210 to 141 at an election held Nov. 7. Due Jan. 1 1932, opt. after'
Jan. 1 1917,
SELMA, Dallas County. Ala.-Bonds Voted.-The proposition to issue
the $35,000 school bonds (V. 94, p. 506) received a favorable vote, it is
stated, at the election held March 25.
SHEBOYGAN, Sheboygan County, Wis.-Bond Election.-The question
of issuing $75,000 5% 20-year city-hall bonds will be submitted to a vote
on April 2.
SKAGIT COUNTY (P.0. Mt. Vernon), Wash.-Bond Sale.-Concerning
the sale of the $150,000 road-repair bonds to Carstens & Earles, Inc., of
Seattle, the purchaser informs us that the sale was made subject wholly to
a favorable Supreme Court decision on the question whether or not the
resulting funds were properly used in improving roads in general, as distinguished from roads in particular, the voters not having specified nor
having been given a chance to specify the particular roads to be improved.
SOUTH ORANGE TOWNSHIP SCHOOL DISTRICT, Essex County,
N. J.-Bond Offering.-Proposals will be received until 8 p. m. April &
by the Finance Committee for $65,000 43•6% coup. school bonds. Denom.
$1,000. Date June 1 1912, Int. J. & D. Due $5,000 in 20 years, $10,000
in 21 years, $10,000 in 22 years, $20,000 in 23 years and $20,000 in 24 years.
Cert. check on a national bank or trust company for 3% of bonds bid for,
payable to the Bd. of Ed. required. Purch. to pay accrued int. Bonds
will be certified as to genuineness by the U. S. Mtge. & Trust Co. of N. Y.
Bids to be made on blanks furnished by the District. H. H. Tucker is
District Clerk, Columbia School, South Orange.
SOUTH PORTLAND, Me.-Temporary Loan.-On March 26 a loan of
$60,000, due $20,000 Dec. 11912, $20,000 Jan. 1 1913 and $20,000 Feb. 1
1913 was negotiated with Curtis & Sanger of Boston at 4.48% discount and
$1 25 premium.
SPENCERVILLE, Allen County, Ohio.-Bond Sale.-On March 23 the
$3,000 7-12-year (serial) armory and $3,000 1-6-year (serial) municipal
electric-light-plant 4% bonds (V. 94, p. 649) were awarded to L. Y. Cochran at par and int. A bid was also received from the Rud. Kleybolte Co.,
Inc., of Cincinnati.
SPRINGFIELD SCHOOL DISTRICT (P. 0. Springfield), Sangamon
County. Ill.-Description of Bonds.-The $150,000 building bonds to be
submitted to a vote on April 2 (V. 94, p. 867) bear interest at a rate not
exceeding 4 % and are payable $7,500 yearly for 20 years.
STAMFORD, Fairfield County. Conn.-Bond Offering.-Proposals will
be received until 12 m. April 15 by W. N.Travis, City Treas., at the Stemford Nat. Bank for $150,000 park and $30,000 sewer 4% bonds. The sewer
bonds are coupon in form, and bids for the park bonds may be made for
fully registered bonds or for coupon bonds, registered as to principal only.
Int. semi-ann. at the Merchants' Exchange Nat. Bank, New York. Due
30 years from May 1 1912. Cert. check or bank draft for 2% of bonds bid
for required.
The official notice of this bond offering will be found ainong the advertisements elsewhere in this Department.
SUNDA NCE, Crook County, Wyo.-Bond Offering.-Proposals will be
received until May 1 by E. Rounds, City Treas., for $18,000 6% 15-30-yr.
(opt.) water bonds. Int. annual. Cert. check for 5% of bonds bid for
required.
STATEMENT.
NEW LOANS,
PUBLIC STATEMENT
$110,000
OAKMONT, PA.
PORT OF SEATTLE, WASHINGTON
The initial development will probably
The Port of Seattle District (co-termiPort Disnus with King County, Wash., in which, require about $3,000,000 of
the City of Seattle is located), was au- trict funds and $1,500,000 of company
Additional expenditures will
thorized by vote of the people on funds.
March 5, 1912, to issue bonds in the be contingent upon the growth of busisum of $3,000,000, and an additional ness.
The site of the propgsed terminal desum of $2,000,000 when needed, for
the purpose of permitting the develop- velopment is one of the most advanment of some part of the terminal facili- tageous in the world. Vessels can pass
withties in this port, possibly patterned after to berth directly from deep water
The harbor
the Bush Terminal System of New York. out the aid of tug or pilot. natural
harIt is the present thought of the Port is one of the most perfect
Commission, which is charged with the bors in existence, centrally situated on
administration of this fund, to invite the sheltered inland sea of Puget Sound,
co-operation of private capital in the de- entirely free from dangerous storms,
velopment of such project,and to that end ice, shoals or any of the ordinary handiit invites proposals for such cooperation. caps to navigation.
Existing facilities for deep sea-shipIn general terms, the basis of coping in the Port of Seattle comprise
operation would be as follows:
The Port Commission will acquire the about 14,500 lineal feet of berthing
bulk of the land needed and will erect space, and to this the Port Commission
thereon the necessary piers and sheds. will soon add 6,000 feet, exclusive of
These structures and the additional lands the proposed terminal development.
The Port is served by all the transacquired by the Commission will be
in the
leased upon equitable terms to the co- continental railroads terminatingthe
haroperating company, which will be ex- Northwest, and every portion of
pected to add such structures from its bor is in direct connection therewith.
Seattle is the largest city in the Pacific
own funds as may be necessary to complete the development on a compre- Northwest, with a population of about
hensive basis. The investment of pri- 250,000. It is the natural terminus of
vate funds must be not less than half shipping routes to this coast, the natural
entrepot for Alaska and Oriental trade,
that of the Port District.
The rental to be paid to the Port Dis- and the natural distributing centre for
trict will be based upon first cost to the the interior Northwest.
The Port Commission invites correDistrict, and must be not less than the
interest on the bonds and one per cent spondence looking to an arrangement
additional. Provision will be made for along the lines above suggested, and will
the disposition of privately-built struc- furnishiadditional information upon request.
tures:at the termination of the leases.
Bolger, Mosser & Williaman
MUNICIPAL BONDS
Legal for Savings Banks,
Postal Savings and Trust Funds.
SEND FOR LIST.
19:South La Salle St.,
933
THE CHRONICLE
A1A.R. 30 1912 I
CHICAGO
MUNICIPAL AND RAILROAD
BONDS
LIST ON APPLICATION
SEASONGOOD & MAYER
Ingalls Building
CINCINNATI
SCHOOL DISTRICT BONDS
Sealed bids will be received by the undersigned
until three o'clock P. M. April 10, 1912, for the
proposed issue of $110,000 of Oakmont School
District building bonds, which indebtedness has
been duly authorized by the electors of said District, as more duly appears in papers filed at
No. 5 November Sessions, 1911, in the office of
the Clerk of Courts of Allegheny County, Pa.
The bonds will be dated May 1, 1912, and will be
coupon or registered bonds in denominations of
$1,000, bearing interest at the rate of 4 per cent
per annum, payable semi-annually, at the First
National Bank, Oakmont, Pa., subject to no
deduction for State tax in Pennsylvania. A proportionate number of the bonds will mature at
five-year intervals up to thirty years from date,
viz.. 18 in each of the years 1917, 1922, 1927,
1932, 1937, and 20 bonds in the year 1942.
Certified check to order of Oakmont School District, in two per cent of the amount bid, must accompany each bid. The right is reserved to reject any or all bids.
•
March 26, 1912.
M. W. BOTTOMPIELD. Treasurer. •
$360,000
Pocahontas County, Iowa
DRAINAGE BONDS
The Board of Supervisors of Pocahontas County.
Iowa, will offer for sale approximately $360,000
6% drainage bonds at the Auditor's office in Pocahontas, Iowa, on April 17th, 1912, at one
o'clock P. M.
Open bids. Certified check required.
Bonds will be offered on 12 districts.
Land worth an average of $100 per acre.
Board reserves right to reject any and all bids.
For further information write to
J. A.TERRY,County Auditor.
Pocahontas, Iowa.
$40,000
Chippewa County, Mich.
REFUNDING BONDS
Sealed bids will be received at the office of the
County Clerk of Chippewa County. Michigan, up
to three o'clock p. m.on APRIL 91H, A. D.1912.
and then publicly opened, for the purchase of
$40,000 Chippewa County Refunding Bonds.
dated May 15th, 1912, due 15 years after date,
bearing interest at the rate of 4 4 per cent per
annum, payable semi-annually. The Board of
Supervisors reserve the right to reject any or all
bids.
For further information, address
HERBERT L.PARSMLE,
Gounty Clerk,
Sault Ste. Marie, Michigan.
934
THE CHRONICLE
TACOMA, Wash.-Bond Offering.-Proposals will be received unti
2. p. m. April 18 by W. W. Seymour, Mayor, for $300,000 Green
River
Gravity Water System, $68,000 Puyallup River Bridge and $475,000 New
Eleventh Street Bridge 20-year bonds at not exceeding 5% int. Denom.
$1,000. Interest semi-annual at the agency of the State in New York.
The official notice of this bond offering will be found among the advertisements elsewhere in this Department.
[VOL. Lxxxxiv.
awarded to the New First Nat. Bank of Columbus at 105.10
and int. Othe
bids follow:
Otis & Hough, Cleveland..$26,260 00iSeasongood & Mayer,
Cin426,101 00
Tillotson&WolcottCo.,Cle. 26,165 00 Well, Roth & Co., Ctn..25,692 50
WALLINGFORD, New Haven County. Conn.-Bond Sale.-On Mch. 22
the $40,000 434% coup. refunding and impt. bonds (V. 94, p.
783)
were
awarded to C. H. Venner & Co. of N. Y. at 101.33. Other bids
follow:
Bond & Goodwin,. Boston___101.11 Curtis & Sanger, Boston__10
0.43
Harris, Forbes & Co., N. Y_101.091 Edgerly & Crocker, Boston.
Lee, Higginson & Co., Boston101.03 A. B. Leach & Co., Boston_ 100.401
_100.39
Estabrook ec Co., Boston_ __ _100.819 Blake Bros. & Co., Boston_
_100.37
E. H. Rollins & Sons, Boston100.777 N. W. Halsey & Co., Boston_100.
345
Merrill, Oldham & Co., Bost_100.539 Hincks Bros. & Co.,
New Hav100.30
Blodget & Co., Boston
100.53 Adams & Co., Boston
100.277
Spitzer, Rorick & Co., N. Y_100.473 Dime Savings Bk.,
WallIngf _100
Interest payable in April and October.
The above bonds are now being oJered by C. H. Veneer & Co., at
prices
to yield 4.10%.
WALTER SCHOOL DISTRICT (P. 0. Walter), Comanche County, Olcla.
-Bond Sale.-G. R. 13roadwell & Co. of Oklahoma City were awarded
$30,000 6% 25-yr. funding bonds. Denom. *1,000. Date Jan. 31
1912.
Int. J. & J.
WALTHAM, Middlesex County, Mass.-Bond Sale.-On March 28 the
$20,000 school and $12,000 street 4% bonds (V. 94, p. 867) were awarded
to Curtis & Sanger of Boston at 102.22. Denom. $1,000. Date April 1
1912. Int. A. & 0. Other bids follow:
Adams & Co., Boston__ _102.719 for $20,000 and 101.313 for $12,000
E.II.Rollins & Sons, Bost _102.556 for $20,000 and 100.556 for $12,000 issue
Blodget & Co., Boston_ _ __102.54 for $20,000 and 101.11 for $12,000 issue
Issue
Blake Bros. & Co., Boston_101.93 for both issues
R. L. Day & Co., Boston_ _101.719 for both issues
Estabrook & Co., Boston_ _101.51 for both issues
WAPANUCKA. Johnson County, Okla.-Bond Sale.-On March 18
the $7,000 6% 25-yr. coup. water-works bonds (V. 94, p. 723)
were awarded
to Speer & Dow of Fort Smith at par. Other bids follow:
R. J. Edwards, Okla. City_ _94.501John Nuveen & Co., Chicago_ _94
WARDNER-KELLOGG INDEPENDENT SCHOOL DISTRICT NO. 6,
Shoshone County, Idaho.-Bond Sale.-On March 15 $25,000 10-20-yr.
(opt.) high-school-bldg. bonds were awarded to the First Nat. Bank of
Kellogg at 100.828 and int. for 5s. Authority vote of 196 to 45 at an
election held Jan. 27. Denom. $1,000. Date March 15 1912. Int.
M. & S. at the Treasurer's office. Total debt, including this issue $35,000.
Assessed valuation $2,352,694.
WARREN COUNTY, N. Y.-Bond Offering.-Proposals will be received
until April 2 by J. 13azinet, Co. Treas. (P. O. Glen3Falls), for $50,000 5%
reg. road bonds. Denom. $1,000. Date March 30 1912. Int. F. 4c A. In
New York exchange. Cert. check for $1,000, payable to the Co.
Treas..
required.
A like issue of bonds was awarded on Jan. 20 to Farson,
N. Y., but subsequently refused by that firm (V. 94, p. 649).Son & Co. of
WASATCH COUNTY HIGH SCHOOL DISTRICT, Utah.-Description
of Bonds.-The $50,000 5% 5-20-yr. (opt.) bldg. bonds awarded on Feb. 24
to E. H. Rollins & Sons of Denver at 100.33 ,int. and blank bonds. (V. 94.
D 723) are in the denom. of $1,000 each and dated March 1 1912. Int.
TERRELL. Kaufman County, Tex.-Bond Election.-Reports state that
propositions to issue $25,000 water-works and *20,000
paving bonds will
be submitted to a vote April 1. The question of issuing sewerage
bonds
will, it is further stated, shortly be presented to the voters.
• THOMPSON, Winnebago County, Iowa.-Bonds Not Sold.-We are advised that the $5,000 53i% water bonds offered on March 4 (V. 93,
p. 1552)
were not sold on that day. ..4.1 • • • • • • • • • • • • •
• • • • • • •
TIPTON COUNTY (P. 0. Tipton), Ind.-Purchaser of Bonds.-The purchaser of the 4 3•57
0 10-yr. gravel-road bonds, aggregating $34,660, awarded
on March 11 (V. 94, p. 867), was D. Miller, at par. Date
April 1 1912.
Interest M. & N.
• • •
• • •
• • •
• • • • • • •
TROY MILLS SCHOOL DISTRICT (P. 0. Troy Mills),
Linn7CountY.
fowa.-Bonds Voted.-An election held March 16 resulted in favor
a proposition to issue $5,000 bldg. bonds. Due 10 years, opt. $100 or of
more at
any int.-paying date. The vote was 53 "for" to 23
"against."4....1‘11s..4.v4
UNDERWOOD. McLean County, No. Dak.-Bond Offering.
will be received until April 2 by J. E. Miller, Village Clerk, for-Proposals
$2,000 7%
coup. tax-free fire dept., city-hall and street-impt. bonds. Auth.
312, Laws of 1911; Art. 11, Chap. 32, Pol. Code of Rev. Stat. of Chap.
1905.
Denom. $100. Date April 2 1912. Int. ann. in April at New York
or
Chicago. Due April 2 1932. Cert. check for $200, payable to the
VII.
Clerk, required. No bonded debt at present. Floating debt, $1,500.
Assessed valuation for 1911, $92,716.
UNION IRRIGATION DISTRICT. Cameron County, Texas.-Bond
Offering.-Proposals will be received until 10 a. m. April 16 by the Board of
Directors at Raymondville for $100,000 5% gold engineering and rightof-way bonds. Int. ann. on Jan. 1 at place desired by purchaser. Duo
serially in 21 to 30 years. Cert. check for $2,500, payable to A. T. Woodhouse, required. No debt at present. Assessed valuation $756,000.
The official notice of this bond offering will be found among the advertisements elsewhere in this Department.
PtVENTNOR CITY (P. 0. Atlantic City), N. J.-Bond Offering.-Proposals w II be received until 8 p. m. April 3 by E. S. Royal, City Clerk,
fo$15,000 5% 40-yr. park-impt. bonds, it is stated. Int. semi-ann.
Cert.
check for 2% is required.
VICTORIA COUNTY (P. 0. Victoria), Tex.-Bond Sale.-Local papers
state that the $200,000 5% 20-40-year (opt.) road-impt. bonds
offered on
March 11 were sold at par to the Commerce Trust Co. of Kansas
City or
March 16.
• • • • • • •
• • • • • • • •
• . .
.
.
• VIENNA, Clark County, So. Dak.-Bond Sale.-On March 1 the $8,000
5% coup. tax-free funding bonds (V. 94, p. 507) were awarded
C.
to
H.
Coffin of Chicago at 100.10. "
.4 • ...I et
• •, •
•
Ni. s.
PriVIENNA TOWNSHIP (P. 0. Vienna), Trumbull County, Ohlo.-Bond
WASHINGTON MAGISTERIAL DISTRICT NO. 5, Norfolk County,
Sale.-On March 25 the $25,000 5% road-Impt. bonds (V. 94. p. 783) were
-Bond Offering.-Proposals will be received until 12 m. April 9 by Va.
the
NEW LOANS.
•NEW LOANS.
BONDS FOR SALE.
$843,000
$350,000
Union Irrigation District,
City of Tacoma, Washington CITY OF HOBOKEN,' N. J.,
Raymondville, Texas
WATER AND BRIDGE BONDS
SPECIAL TAX ARREARAGE BONDS
BONDS FOR SALE
Notice is hereby given that on THURSDAY
. PRINCIPAL'"AND'vrINTEREST k`"PAYABLE
APRIL 18TH. 1912, at 2 o'clock p. m. at the
FROM THE RECEIPT OF TAXES
office of the Mayor of the City of Tacoma,
' WashNOW IN ARREARS.
ington, in the City Hall in said City, sealed bids
Public notice is hereby given in accordance with
will be received for the following-described bonds:
1. Bonds numbered from 201 to 500 both in- a resolution of the Council of the City of Hoboken,
clusive, in the sum of $300,000 of the issue au- passed on the 27th day of March, 1912, and duly
thorized by Ordinance No. 3982, approved Janu- approved on the 28th day of March, 1912, that
ary 6th, 1910, and providing for the construction scaled proposals for the purchase of bonds of the
of the Green River Gravity Water System. Said City of Hoboken, to be known as "Special Tax
bonds shall be the general bonds of said City of Arrearage Bonds," in the amount of Three hunthe par value of $1,000 each, payable in twenty dred and fifty thousand dollars ($350,000) to run
years from the date of the issue of bonds numbered for a period of ten years from April 1, 1912,
from 1 to 200, with interest at not exceeding 5% coupon or registered, at the option of the bidder,
per annum, payable semi-annually at the fiscal will be received at a meeting of the Council to
agency of the State of Washington in New York be held on
City, and known as GREEN RIVER GRAVITY
AFTERNOON, APRIL 10TH.
1912, AT FOUR O't:LOCK.
WATER SYSTEM BONDS.
2. Bonds numbered from 1 to 68 both Inclusive, Bidders to state price on bonds bearing interest
In the sum of $68,000 of the issue authorized by at the rate of five per cent.(5%) per annum, paYOrdinance No. 4292 of said City, passed Septem- able semi-annually. All moneys received by the
ber 21st, 1910, and providing for the construction City of Hoboken as principal and interest on
of a bridge over the Puyallup River in said City. account of said taxes in arrears and for the
Said bonds will be the general bonds of the City of arrearage of which said bonds are issued are
Tacoma of the par value of $1,000 each, payable hereby pledged and appropriated to the Sinking
In twenty years from date of issue, with interest Fund Commissioners of the City of Hoboken for
not exceeding 5% per annum, payable semi- the payment of the principal and interest of the
annually at the fiscal agency of the State of Wash- said bonds.
The bonds will be prepared and certified as to
ington in New York City, and known as CITY
OF TACOMA PUYALLUP RIVER BRIDGE genuineness by Knickerbocker Trust Company of
New York City.
BONDS.
All proposals to be directed to the Mayor and
3. Bonds numbered from 1 to 475 both inclusive. In the sum of $475,000 of the issue authorized Council of the City of Hoboken, N. J., and shall be
by Ordinance No. 4294 of said City, approved accompanied by a certified check on a national
September 21st, 1910, and providing for the bank or trust company for five thousand dollars
construction of a bridge over the City waterway. ($5.000).
The Mayor and Council of the City of Hoboken
Said bonds will be the general bonds of said city
of the par value of $1,000 each, payable in twenty reserve the right to reject any or all bids if deemed
years from date of issue, with interest not ex- in the interest of the City so to do.
By order of the Council.
ceeding 5% per annum, payable semi-annually
at the fiscal agency of the State of Washington in
JAMES H. LONDRIGAN,
New York City, and known as CITY OF TACOMA
City Clerk
NEW ELEVENTH STREET BRIDGE BONDS.
Bids for said bonds will be received based on
the interest proposed by the bidder, which cannot
exceed 5%. The right is reserved by the City
to award the bonds, or any part thereof, to the
highest and best bidder, or reject all bids; and the
right is also reserved to require a bond or deposit
from the successful bidder to secure the faithful
performance of his contract to take and pay for
Specializing in Examination of
bonds awarded.
For all information apply to John F. Meads,
City Controller. Dated Tacoma, Wash., March
14th, 1912.
SINKING FUND BOARD,
CHICAGO, ILL.
W. W. SEYMOUR, Mayor.
JOHN F. MEADS, City Controller.
RAY FREELAND,Commissioner of Finance.
WEDNESDAY
F. WM. KRAFT
LAWYER.
Municipal and Corporation Bonds
1312 FIRST NATIONAL BANK BLDG..
ESTABLISHED 1885.
H. C. SPEER & SONS CO.
$100,000 21 to 30-year 53,5% Bonds. Interest
payable annually. Interest and Principal of
these Bonds payable from taxes levied upon
the lands of the district annually.
The Union Irrigation District, in Cameron and
Hidalgo Counties, Texas, desires to sell $100,000
par value of bonds. These bonds arc payable at
the place designated by the purchaser; they bear
interest at rate of 55i% annually, payable Januare first. They mature serially from 21 to 30 years.
Notice is hereby given that sealed proposals for
the purchase of said bonds will be received by
the Board of Directors of the Union Irrigation
District at Raymondsville, Texas, and opened
in public on the 16TH DAY OF APRIL. A. D.
1912. at ten A. M. All bids must be accompanied by certified check for $2,500, payable to A. T.
Woodhouse, President of the Board of Directors
of the Union Irrigation District, as an evidence
of the good faith of said proposed purchaser.
The Union Irrigation District comprises 86,400
acres at present time; applications are pending
for an addition to this district by the owners of
24,000 acres; assessed valuation of the district
for 1911, $756,000; actual valuation of property
of the district, about $3,000,000; population of
the district about 1,200; number of landowners
about 700. Outstanding bonded indebtedness
of the district, none; floating indebtedness, none.
A. T. WOOD HOUSE, President.
CLYDE W.STEPHENSON,Secretary.
NOTICE TO ENGINEERING CONTRACTORS.
Notice is hereby given that sealed proposals will
be received at the office of the Board of Directors of the Union Irrigation District for the Preliminary Field Engineering for the Gravity Irrigation System at eleven o'clock A. M., APRIL
16TH. A. D. 1912.
This Preliminary Engineering includes 165
miles Preliminary line; 474 square miles Topography; 131 miles of Located line; and necessary
information incident thereto. Plans and speolfications for this Preliminary Engineering are now
on file, and open to inspection at the office of the
District Engineer, Raymondville, Texas.
Bidder will be required to purchase the entire
$100,000 bond issue, as advertised above, and
pay for same at not less than the par value thereof.
Proposal must be accompanied by certified check
for 5% of the amount bid. Proposal must be
on blanks furnished by the District Engineer.
VERNE L.CONRAD,District Engineer.
Raymondville, Texas.
HODENPYL, HARDY & CO. Charles M. Smith & Co
CORPORATION AND
7 Wall St., New York
First Nat. Bank Bldg., Chicago
MUNICIPAL BONDS
Railroad, Street Ry., Gas & Elec. Light
SCHOOL,
FIRST NATIONAL BANK BUIL
COUNTY AND MUNICIPAL BONDS
SECURITIES:
CHICAGO
935
THE CHRONICLE
MAR. 30 1912.1
Offering.-ProWINSOR TOWNSHIP, Huron County, Mich.-Bond
Twp. Clerk
posals will be received until 1 p. m. April 10 by J. J. Campbell,
bonds voted
mpt.
highway-i
coup.
5%
$50,000
(P. 0. Pigeon), for the
the First
at
al
semi-annu
Jan. 27 (V. 94, p. 581). Denom. $1.000. Int.
incl., $2,000
Nat. Bank in Detroit. Due $1,000 yrly. from 1913 to 1919,
and
incl.
1936
to
1932
from
yrly.
$3,000
yrly. from 1920 to 1931, incl.
are to be dated and delivered as follows:
$4,000 Nov. 1 1937. Bonds'
1 1912, $10,000
Aug.
Lac
$10,000
County,
du
1912,
1
Fond
)
.
July
Waupun_
0.
T
$5,000
(P.
1
1912,
June
DISTRIC
$5,000
WAUPUN SCHOOL
1 1912. Cert. check
was awarded
Wis.-Bond Sate.-During March the State of Wisconsin bonds at par. Sept. 1 1912, $10,000 Oct. 1 1912 and $10,000 Nov.
for $1,000 required.
$25,000 and local investors $12,500 school 334% and 4%
15
to
years.
1
from
Int. ann. in Feb. Due
-An election
WYSOX TOWNSHIP. Carroll County, Ill.-Bands Voted.
-Reports state that
proposition to issue
WAURIKA, Jefferson County, Okla.-Bond Sale.
by an Okla- held March 12 resulted, it is stated, in favor of the
purchased
was
bonds
ks-impt.
water-wor
of
$7,500
an issue
$30,000 road construction bonds.
homa City bank.
Sate.
YAKIMA COUNTY SCHOOL DISTRICT NO. 96, Wash.-Bond
City), Jasper County,
783)
WEBB CITY SCHOOL DISTRICT (P. 0. Webb
On March 23 the $9,000 1-20-yr. (opt.) coup. bldg. bonds (V. 94, p.
$10,000
issue
to
n
propositio
Mo.-Bonds Proposed.-According to reports, a
were awarded to the State of Washington at par for 5s. Other bids follow:
bonds is being discussed.
Fidelity Tr. Co., Kan. City_Par and int. for 534s
DISTRICT NO. 1, Norfolk County. Dexter Horton Nat. Bk.,Sea.$9,010, int. and blank bonds for 20-yr. 6s.
WESTERN BRANCH MAGISTERIALreceived
9 by the
m.
April
12
until
be
will
S. A. Kean & Co.. Chicago.. $9,360 for 6s dated March 1 1912
Va.-Bond Offering.-Proposals
and $20,000 school-impt.
-On March 25 the
County Clerk at Portsmouth for $81,600 refunding
YONKERS, Westchester County, N. Y.-Bond Sale.
Parker is Clerk of Bd. of Ed.
T.
W.
(V. 94, p. 783)
al.
semi-annu
Int.
5% 20-year bonds.
$50,000 434% 1-25-year (ser.) reg, refunding water bonds
Ind.-Bond Offering.-Proposals were awarded
Y. at 103.25 and int.-a basis
N.
of
Chapman
&
).
to
Chisholm
Monticello
0.
(P.
WHITE COUNTY
Auditor, for
County
Fisher,
G.
A.
by
2
follow:
bids
Other
April
of about 4.174%.
will be received until 12 m.
Y_ _102.927
Curtis ec Sanger, New York_ _103.171 E. H. Rollins & Sons, N.
the following 5% coupon bonus:
ion bonds. Denom. (20) $500, (10) Bond & Goodwin, New York_103.133 R. M. Grant & Co., New Y'k_102.91
$14,355 00 Minch et al ditch-construct
821
York_102.
years.
10
for
New
yearly
Co.,
dc
50
4
Estabrook
$1,435
Harris, Forbes & Co., N. Y__103.08
$435 50. Due
-construction bonds. Denom. (20) $500, A. B. Leach & Co., N. Y_-103.01 J. R. Magoffin, New York _ _102.81
13,615 43 Venatta et al ditch $1,361 54 yearly for 10 years.
5
N.Y.102.6
Co.,
&
Kinnicutt
Kissel,
Due
103.00
Bank
54.
Savings
$361
Yonkers
(10)
National Bank, Monticello. Certified Watson & Pressprich, N. Y 102.934 Ferris & White, New York_ _102.572
Interest J. 83 D. at the Monticello
& Co.,N.Y. 102.513
Fenwick
Douglas
_102.933
York__
New
required.
Bros.,
Kountze
$500
for
check
until 12 m. May? for $30,000 434% coupon
-On March 20
Proposals will also be received
YORK COUNTY (P. 0. Yorkville ,) So. Car.-Bond Sale.(V.
Denom. $500. Int. J. & D. beginning June 1
94, p. 508)
(opt.) York Township bonds
bridge-construction bonds.
State Bank, Monticello. Due $6,000 yearly the $60,000 5% 15-30-year
Farmers'
and interest.
the
par
at
at
Hill
of
Rock
Bank
payable
Union
1912,
were awarded to the National
Certified check for $500 required.
received from Cutter, May & Co. of Chicago.
Dec. 1 from 1916 to 1925, incl.
also
was
bid
A
received
DISTRICT (P. 0. White Haven), Luzerne
YOUNGSTOWN, Ohio.-Bond Sale.-The following bids were
WHITE HAVEN SCHOOL
-On March 19 the vote on the question of issu- on March 25 for the 11 issues of impt. bonds (V. 94, p. 649) aggregating
County, Pa.-Bonds Voted.
128 to 91.
was
bonds
building
$125,545.
$30,000
ing
$12,000 $36,260 $50,000 $8,250 $10,610 $3,000
-Band Sale.-On March 20
issue.
WILKINSBURG, Allegheny County, Pa.
issue.
issue,
issue,
issue, issue.
purchased by N. W. Halsey & Co. of New
$50,000 414% impt. bonds were
$
$
Int.
1
1012.
March
Fund,
Date
Pension
$1,000.
Denom.
Int.
Firemen's
80
*3,070
York at 101.835 and
20
yearly
.12,439
from 1922 to 1934, incl., and $3,000
Youngstown
M. & S. Due $2,000 yearly
'
517 30
*50,062 50'8
Atlas Nat. Bank,Cin__12,396 00
from 1935 to 1942 incl.
8,413 00*10,866 00 3,036 00
00
50,017
00
00*37,956
Co1.12,363
Bk.,
Nat.
County. Pa.- New First
WILKINS TOWNSHIP SCHOOL DISTRICT, Allegheny
60 37,897 73
until 2 p. m. April 6 by A. Stacy & Braun,Toledo.12,346 00 37,866 50
10,864 75
Bond Offering.-Proposals will be received
Well, Roth & Co.,Cin_12,336
Cunningham, Secy. of School Board, (P. 0. Lock Box No. 205, Turtle
37,770 00 50,002 00 8,445 00 10,860 00
00
Hough, Cleve..12,335
(lc
Otis
0.
&
A.
Int.
1
Date
1912.
April
bonds.
school
434%
$37,000
for
Creek),
A. E. Aub & Co., Cin__12,331 20
at the Braddock Nat. Bank, Braddock. Due $2,000 yrly. beginning in Hayd.Miller &Co.,Clev.12,329 00 37,816 00 50,005 00 8,442,00 10,850 00 3,040 00
1917. Bonds are tax-free in Pennsylvania. Cert. check on a national
Kleybolte Co..1
Rud.
required.
$500
bank for
50,013 00
Inc., Cincinnati......J12,327 60
-On March 28
8,418 00 10,830 00
WILMINGTON, New Castle County, Del.-Bond Sate.
Western Germ.Bk.,Cin.12,312 00 37,702 00 50,016 16
were
783)
p.
94,
(V.
bonds
water
refunding
37,915 75
the $45,000 4% 23-year reg.
&
n
Co.,Clev.
C.E.Deniso
follow:
bids
MOW
$1,370
$815
$820
awarded to R. M. Grant .5c Co. of N Y. at 97.86. Other
$1,420
Forbes & Co., N. Y_ _97.319
issue.
issue.
issue,
N. W. Halsey de Co., N. Y ___97.814 Harris,Gu.
issue. issue,
& Tr. Co., N. Y_ _97.12
97.667 Equit.
$.841 40 .31,414 38
,466
Estabrook do Co., N Y
Youngst*$1
Fund,
Pension
97
Firemen's
00
97.643 Security Trust Co
$1,005
00
1,370
00
815
00
$820
1,420
Kountze Bros., 14. Y
_
Cleveland.
Co.,
Miller dc
97.567 IC. H. Venner So Co., N. Y___96.693 Hayden,
.1,011 50
.841 15
Biodget & Co., N Y
& Mayer, Cm..... _96.533 Police Pension Fund, Youngstown.
Douglas Fenwick ee Co., N. Y97.391 I Seasongood of
bids.
*Successful
New York.
A bid was also received from Bond 8: Goodwin
Interest
County Clerk at Portsmouth for $20,000 5% school impt. bonds.
semi-annual. T. W. Butt is Clerk Board of Education.
ry Loan.-On
WATERTOWN, Middlesex County, Mass.-Tempora $50,000 Oct. 10
Mch. 22 a loan of $150,000 due $100,000 Sept. 23 1912 and
discount.
1912. was negotiated with Bond & Goodwin of Boston at 3.54%
INVESTMENTS.
NEW LOANS.
NEW LOANS.
$30,000.00
$150,000.00
THE AMERICAN MFG. CO.
.
CONN
,
FORD
STAM
OF
.
CONN
CITY
,
FORD
STAM
OF
CITY
PUBLIC PARK BONDS
SEWER BONDS
00
Sealed proposals for the sale of $150,000will
City of Stamford, Conn., Public Park Bonds
Stamford
the
at
be received by the City Treasurer
National Bank until 12 o'clock noon,
MONDAY, APRIL 15, 1912.
Said bonds bear interest at the rate of 4 per
cent per annum, payable semi-annually on the
first day of May and November, and mature
thirty years from May 1, 1912.
Principal and Interest payable at the Merchants'
Exchange National Bank, City of New York. or
Bids may be made for fully registered bonds
only.
for coupon bonds registered as to principalpar
and
No bid will be accepted for less than
accrued interest.
bids.
all
and
any
reject
to
reserved
The right is
All proposals must be accompanied by a certified check or bank draft for 2 per cent of the par
value of the bonds bid for, said checks to be
returned if bid is not accepted.
For further particulars address
WM. N. TRAVIS,
City Treasurer.
Bank, Stamford, Conn.
National
Stamford
Sealed proposals for the sale of $30,000 00 City
of Stamford, Conn., Coupon Sewer Bonds will be
received by the City Treasurer at the Stamford
National Bank until 12 o'clock noon,
APRIL 15, 1912.
per
Said bonds bear interest at the rate of 4 and
cent per annum, payable semi-annually,
mature thirty years from May 1, 1912.
Principal and interest payable at the Merchants'
Exchange National Bank, New York.
No bid will be accepted for leas than par and
accrued interest.
The right is reserved to reject any and all bids.
All proposals must be accompanied by a certified
check or bank draft for two per cent (2%) of the
par value of the bonds bid for, said checks to
be returned if bid is not accepted.
For further particulars address
WM. N. TRAVIS,
City Treasurer.
Stamford National Bank, Stamford, Conn,
NATIONAL LIGHT,
HEAT & POWER COMPANY
GUARANTEED
BONDS
All
MANILA, SISAL AND JUTE
CORDAGE
65 Wall Street
BONDS
Selected for Conservative investors.
Lists Mailed Upon Application,
T. W.STEPHENS Ac Co. Lawrence Barnum & Co.
BANKERS
2 WALL STREET, NEW YORK.
INVESTMENT BONDS
BANKERS
New York
Adrian H. Muller 8c Son,
AUCTIONEERS,
Regular Weekly Sales
OF
STOCKS and BONDS
EVERY WEDNESDAY
Office, No. 55 WILLIAM STREET,
Corner Pine Street.
%4
}
MUNICIPAL
RAILROAD
alg
u70
CORPORATION
New York
BANKERS
37-20 PINE STREET, NEW YORK
Pitubusze
Washington
Philadelphia
issues
A. H. Bickmore & Co.,
30 Pine Street,
-
Interest allowed on accounts of
Individuals and Corporations
BLODGET & CO.
BONDS
60 STATE STREET,BOSTON I
30 PINE STREET, NEW YORK
STATE, CITY & RAILROAD BONDS
Sutherlin & Company
MUNICIPAL BONDS
Commerce Building
MISSOURI
KANSAS'CITY
gke Oioutruntent Azzonuttott
P. 0. BOX 27. MAIN OFFICE.
WASHINGTON. D. C.
OP
OFFICIAL ORGAN OF THE ASSOCIATION
AMERICAN GOVERNMENT ACCOUNTANTS.
TO
A MONTHLY MAGAZINE OF INTEREST
AGOOUNTING AND FINANCIAL OFFICE
YS
RAILWA
BANKS,
OF MUNICIPALITIES,
AND OTHER Punr.ro SERVICE CORPORA
noNs.
TO EN FOUND IN ALL LEADING CERTIPINP
PUBLIC ACCOUNTANTS OFFICE'S.
'.maple Copy 15 cents. Per Animal 11 5{
GEO. B. EDWARDS
Tribune Building, NEW YORK, N. Y.
Good References
Tel. 4218 Beekman.
Negotiations,Investigations,Settlements
Purchases of Property, Information
In New York City or anywhere.
936
THE CHRONICLE
Canada, its Provinces and Municipalities.
ALLISTON, Ont.-Debenture Oftering.-Proposals
April 5 for $19,300 debentures guaranteed by thewill be received until
County of Simcoe.
W. G. Fisher Is Solicitor.
ALSASK. Sask.-Debenture Sale.-Reports state that $5,000 8%
15Installment debentures were purchased by the Nat. Finance
Co., Ltd., of
Toronto.
COURTRIGHT, Ont.-Loan Election.-On April 5 a by-law
providing
for a loan of $1,500 as a bonus to the Western Constructi
on Co. will be submitted, it is stated, to the ratepayers.
• FORT FRANCIS, Ont.-Debenture Sale.-On March 11 the $9,000
5%
30-installment elec.-light debentures (V. 94, p. 650)
Mathews & Co. of Tor. for $8,621, making the pricewere awarded to R. C.
95.78.
H A I LEYB URY.Ont.-Debenture Sale.-It is reported that Brent, Noxon
& Co. of Toronto were awarded at 96.50 an issue of $12,000
10-yr. debs.
Fr HERBERT SCHOOL DISTRICT, Sask.-Debenture Sale.
of,RegIna were awarded $12,000 53% 20-yr. debentures -Nay & James
.
KILLALOE STATION, Ont.-Debentures Proposed.-According to re ports, this municipality will issue $1,000 5% 10-yr.
debentures.
KINGSTON. Ont.-Loan Voted.-The by-law providing for the loan of
$14,850 to purchase the Cataraqui bridge carried, it Is stated,
at the election
held March 11. V. 94, p. 724.
if' LAVINIA SCHOOL, DISTRICT NO. 435 (P. 0. Hamlota)• Man.-Debenture Election.-An election will be held April 2, reports state, to vote
on the
question of Issuing $2,000 debentures.
MELFORT. Sask.-Debenture Offering.-Proposals will be received until
April 20 for $2,500 6% 20-installment telephone extension debentures
.
Authority vote of 38 to 2 at the election held March 18 (V. 94, p. 784.)
MELVILLE. Ont.-Loan Election.-Reports state that by-laws providing
for loans of $15,000 for a town-hall and $6,000 as a bonus to start a mill
will be submitted to a vote on April 6.
Ite4MILDEN, Sask.-Debenture Sale.-Curran, Laird & Curran of Regina
were awarded, reports state, $2,300 OM% 15-yr. debentures.
MOOSE JAW,Sask.-Loan Election Proposed.-It is stated that a by-law
providing for a loan of $60,000 to install high-pressure water system will
Joe submitted to the ratepayers.
NORTH BATTLEFORD. Sask.-Debenture Sale.-On March 15 C. H.
Burgessl& Co. of Toronto were awarded the following 5% coup. debentures:
$61,354i40-Installment local (mot. sewer debentures (V. 94, p. 724).
5, .1 • Date Aug. 21 1911. Interest annual.
109,500j1Ight, water and sewer-ext. debentures. Date Feb. 22 1912.
Int. J. & J. Due $12,500 Feb. 22 1937 and $97,000 Feb. 22 1952.
(Vol, Lxxxxiv.
PRINCE EDWARD COUNTY (P. 0. Picton),
nture Offering.
-Proposals will be received until 10 a. m. April Ont.-Debe
10 by D. L. Bongard, Co.
Treas., for $40,000 4
20-yr. road-construction debentures
, repayable
in equal annual Installments of principal and interest
at the Bank of
Montreal, PIcton.
RIDGETOWN. Ont.-Debenture Offering.-Proposals
will be received
until 12 m. April 18 by D. Cochrane, Town Treas., for $35,000
water-works debentures. Interest ann. These debentures 4 U% 30-yr.
were offered
without success on Oct. 2 1911 (V. 94, p. 299).
RURAL MUNICIPALITY OF BLUCHER NO. 343,
Sask.-Deb
enture
Offering.-Proposals will be received until May 1 for $18,000
5% 20-yr.
improvement debentures (V. 94, p. 582). T. B. Carlton
is Secy-Treas.
RURAL MUNICIPALITY OF ST. PAUL, Man.-Debentur
March 15 the $5,000 5% 19-yr. debentures (V. 94, p. 650) weree Sale.-On
Nay & James of Regina at 101.54 and int. Other bids follow:awarded to
J. G. Mackintosh & Co., Win_$5,000 Aemilius Jarvis & Co., Tor__
Toronto Gen. Tr. Cor., Win__ 4,900 G. A. Stimson & Co., Tor_ 44,856
_ _ 4,838
C. H. Burgess & Co., Toronto_ 4,946 Nat. Finance Co., Toronto_
_ 4,803
Goldman & Co., Toronto__ __ 4,902 W. A. Mackenzie
Co., Win_ 4,805
Brent, Noxon & Co., Toronto.. 4,891 H. O'Hara & Co.,&
Winnipeg__ 4,650
B. K. Thompson & Co., Win_ 4,875
SUNDERLAND, Ont.-Debenture Sale.-On March
the $9,000 4;4%
20-installment Brock Twp. school debentures (V. 94, 21
784) were awarded
to James MeTaggart at par and interest. Other bidsp.
Brent, Noxon & Co., Toronto_$8,677 W. A. Mackenziefollow:
& Co., Tor -$8,562
C. H. Burgess & Co., Toronto.. 8,657 W. L. McKinnon &
Co., Tor__ 8,556
Wood. Gundy & Co., Toronto.. 8,645 Goldman & Co., Toronto
8,542
Ontario Sec. Co., Ltd., Tor
8,637 R. C. Matthews & Co , Tor_ -- 8,440
Geo. A. Stimson & Co., Tor__ 8,625
TESSIER. Sask.-Debenture Sale.-The $2,500 5% 15-yr. debenture
s
(V. 94, p. 784) have been awarded, it is stated,
to Curran, Laird &
Curran of Regina.
TEULON SCHOOL DISTRICT NO. 1093, Man.-Debenture
Sale.-Nay
& James of Regina were awarded on March 11 the
$5,000 6% 20-year debentures (V. 94, p. 650) at 104.06. The issue was
authorized on March 9 by
a vote of 45 to 7.
TRAIL, B. C.-Debentures Not Sold.-No award was made
on March 18
8
of
50t)
h.
e $25,000 6% 19-year school debentures offered on
that day (V. 94. IL
TROCHU, Alta.-Debenture Sale.-The $3,00) 6%
10-year debentures
(V. 94, p. 299) were purchased on March 2 by Curren,
Laird & Curran of
Regina at 96.138.
UNITED TOWNSHIPS OF NEELON AND
GARSON (Sudbury), Ont.Debenture Sale.-Goldman &Co.
of Toronto were awarded,it is stated, the
$4,000 5% 15-installment debentures
offered on Feb. 28 (V. 94, p. 299.)
financial.
OFFICE OF THE
The
Lumbermans
National Bank
Houston, Texas
Capital and Surplus,
$500,000
TEXAS ITEMS
Remitted on Receipt
Barnes St. Lofland
147 So. 4th St., Philadelphia, Pa.
Stocks and Bonds
AT
AUCTION
EVERY WEDNESDAY
Salesroom 251 Philadelphia Bourse
ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 23d, 1912.
The Trustees, in conformity with the Charter of the Company, submit the following
statement of its affairs on the
31st of December, 1911.
The Company's business has been confined to marine and inland transportation
insurance.
Premiums on such risks from the 1st January, 1911, to the 31st December, 1911
83,653,325 18
Premiums on Policies not marked oft 1st January, 1911
873,680 37
Total Premiums
34,527,005 55
Premiums marked off from January 1st, 1911, to December 31st, 1911
$3,773,578 22
Interest on the investments of the Company received during the year---_$333,8
97 03
Interest on Deposits in Banks and Trust Companies, etc
39,628
24
Rent received less Taxes and Expenses
153,167 66 526,692 93
Losses paid during the year
$1,385,386 46
Less Salvages
$220,704 52
Re-Insurances
205,151 34 425,855 86
$959,530 60
Returns of Premiums
$196,936 89
Expenses, including officers' salaries and clerks' compensation, stationery,
advertisements, etc
570,472 18
A dividend of interest of Six per cent on the
certificates of profits will be paid to the holders
thereof, or their legal representatives, on and afteroutstanding
Tuesday the sixth of February next.
The outstanding certificates of the issue of 1996 will be redeemed
and paid to the holders thereof,
their
legal representatives, on and after Tuesday the
sixth of February next, from which date all interest or
thereon
will cease. The certificates to be produced at the
of payment and canceled.
A dividend of Forty per cent is declared on thetime
earned
premiums
of the Company for the year ending 31st
December, 1911, which are entitled to participate in dividend,
for which, upon application, certificates will
issued on and after Tuesday the seventh
be
of May next.
By order of the Board,
G. STANTON FLOYD-JONES, Secretary.
TRUSTEES.
FRANCIS M. BACON,
HERBERT L. GRIGGS,
CHARLES M. PRATT,
JOHN N. BEACH,
CLEMENT A. GRISCOM,
DALLAS B. PRATT,
ERNEST C. BLISS,
ANSON W. HARD,
GEORGE W. QUINTARD,
VERNON H. BROWN,
THOMAS H. HUBBARD;
ANTON A. RAVEN,
WALDRON P. BROWN,
LEWIS
CASS
LEDYARD,
JOHN
J. RIKER,
JOHN CLAFLIN
CHARLES D. LEVERIC
U,
DOUGLAS ROBINSON,
GEORGE C. CLARK,
LEANDER N. LOVELL,
GUSTAV H. SCHWAB.
CLEVELAND H. DODGE,
GEORGE H. MACY,
WILLIAM SLOANE.
CORNELIUS ELDERT_,
CHARLES H. MARSHALL;
LOUIS STERN,
RICHARD H. EWART,
NICHOLAS F..PALMER.
WILLIAM A. STREET.
PHILIP A. S. FRANKLIN;
HENRY PARISH,
GEORGE E. TURNURE.
ADOLF PAVENSTEDT,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
WALTER WOOD PARSONS, 2d Vice-President.
CHARLES E. FAY. 3d Vice-President.
JOHN H. JONES STEWART, 414 Vice-President,
BALANCE SHEET.
ASSETS.
LIABILITIES.
United States and State of New York
Estimated Losses and Losses Unsettled
Bonds
in process of Adjustment
$700,000 00
$2,310,027 00
New York City and New York Trust Co.
Premiums on Unterminated Risks
753,427 33
and Bank Stocks
1,777,900 00 Certificates of Profits and Interest Un1850
1912 Stocks and Bonds of Railroads
paid
2,742,162
00
267,092 05
Other Securities
Premiums
Return
220,020
Unpaid
00
109,742 16
Special Deposits in Banks and Trust
Reserve for Taxes
57,512 16
Companies
Re-insurance Premiums
183,599 07
Real Estate eon. Wall and William Streets 1,000,000 00 Claims
not
Settled,
including
Compenand Exchange Place, containing offices 4,299,426 04
sation,
etc
69,104 08
Real Estate on Staten Island (held under
Certificates of Profits Ordered Redeemed,
provisions of Chapter 481,Laws of 1887)
Withheld for Unpaid Premiums
75,000 00
22,471 29
IN THE CITY OF NEW YORK
Premium Notes
Certificates of Profits Outstanding
618.136
00
7,401,390
00
Bills Receivable
Issues Guaranteed Contracts
449,354 23
Cash in hAnds of European Bankers tO
pay losses under policies payable in
JOHN P. MUNN, M. D., President
foreign countries
203,603 36
Cash in Bank
930,321 99
New York City Revenue Bonds
Finance Committee.
450,000 00
CLARENCE H. KELSEY.Prea.Title Gu.deTr.Co.
$13,465,923 62
$11,174,365 14
WM. H. PORTER. Banker.
$2,291,558 48
ED.TOWNSEND.Pres. Imp. & Traders Nat.Bk. Thus leaving a balance of
Accrued Interest on Bonds on the 31st day of December, 1911,
$41,878 80
amounted to
Rents due on the 31st day of December, 1911, amounted to. .
21,970 46
_
...
.
- -------Good men, whether experienced In lift insurance Re-insurance due or accrued, in companies authorized in New York, on the31st
day- of ---------1911. amounted to
214,367 00
or not, may make direct contracts with this Com- Unexpired re-insurance-i)reiniunis On
..... o-f December, Off. nmounficiio
83,096 43
pany, for a limited territory if desired, and secure Note: The Insurance Department has estimated the value of the
Real Estate corner Wall and
William Streets and Exchange Place
450,573 96
in excess of the Book Value given above, at
for themselves, in addition to first year's commisAnd the property at Staten
Island In excess of the Book Value, at
63,700 00
sion, a renewal interest Insuring an Income for tne The Market Value of Stocks, Bonds and other Securities on the
31st day of December, 1911, exceeded the Company's valuation by
1,588,635 62
future. Address the Company at Its Home Office,
On the basis of these increased valuations the balance
No. 277 Broadway, New,York City.
$4,755,780 75
would be
The United States Life
Insurance Co.
@FedFRASER