Full text of Commercial and Financial Chronicle : May 16, 1903, Vol. 76, No. 1977

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Quotation -Supplement (Montwy)

Street Railway Supplement

Investor* Supplem ents™ ^)

State and City Supplement (smAi^y)

Entered according to Act of Congress, in the year 1903, by

VOL. 76.

W

il l ia m

B.

D

C

a n a

o m p a n y

,

in the ortice o f Librarian o f C o n g re ss, Washington, D. C

SATURDAY, MAY 16, 1903.

Week ending Slay 9

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P o s t Office B o x 9 3 8 ,

CLEARING MOUSE RETURNS.
The following table, made up by telegraph, etc., indicates
that the total bank clearings of all the clearing houses of the
United States for the week ending to-day, May 16, have
been §2,107,605,736, against §2,135,084,679 last week and
§2,342,003,686 the corresponding week last year.
Clearings— R e tu r n s b y Telegraph.
W e ek E n d in g M a y 16.

190 a

1902.

New Y ork............................................
Boston.................................................
Philadelphia........................................
B a ltim o re ...........................................
Chicago................................................
8L L o u is..............................................
New Orleans.......................................
Seven cities, 5 days......................
Other cities, 5 days.............................
T otal ail cities, 5 days..................
A ll cities, 1 d a y...................................
T otal all cities fo r week...............

$1,042,638,155
106.264,730
93,515.106
18,354,518
146,594,195
45,139,537
12,856.407
$1,475,362,648
284,119,623
$1,759,482,271
348,123,465
$2,107,605,736

$1,262,620,722
127,408,992
102,699,029
19,595,918
142,438,827
45.554,302
10.460.129
$1,710,783,919
261,497,618
$1,972,281,537
369,722.149
$2,342,003,686

P. Cent.
—17*4
—16-6
—8*9
—6*3
+2*2
—0*9
+22*9
—13*8
+8*7
—10*8
—o*8
—10*0

The full details for the week covered by the above w ill be
£iven next Saturday. W e cannot furnish them to-day, clear­
ings being made up by the clearing houses at noon on Satur­
day, and hence in the above the last day of the week has to
be in all cases estimated, as we go to press Friday night.
W e present below our usual detailed figures for "the previous
week, covering the returns for the period ending with Satur­
day noon, May 9, and the results for the corresponding
week in 1902, 1901 and 1900 are also given. Contrasted with
the week of 1902 the total for the whole country shows a loss
13*9 per cent. Outside of N ew York the increase over 1902
is 2*6 per cent.

of

W e ek ending M a y 9.

Clearings at—
New Y o r k ...................
Philadelphia..............
Pittsburgh...................
B altim ore...................
B u ffalo........................
W ashington...............
Albany.........................
R ochester...................
Scranton.....................
Syracuse .....................
JV Umington................
Wilkes Barre..............
W h eelin g....................
B ingham ton..............
Jxreensburg..................
Chester........................
fijtjca..........
Franklin, P a ..............
Total M iddle...

190a

1902.

$
1,280,882,534
113.987,277
49.931,871
22,611,033
7,627,043
4,538,749
3,998,859
2,586.836
1,509.123
1,293,619
1,147,300
1,125.819
757,248
480,900
470.594
574 613
2,655.022
449.991
221,143
1.493.583.518

$
1,810,06,7,538
135,280,902
39,400,826
28,188,274
5.862,335
4,371,856
8.540,021
3,531,660
1,321.212
1.17; 925
1,132,811
923.621
813.451
400,500
516,434
451,300
Not include
Not include
Not include
2.082.030.606

Inc. or
Dec.

NO. 1977.

190L

1900.

$
%
$
—29*3 2.858,085,385 995,720.214
—15*7 115,704,524
84,009,821
84,208.868
47,552,432
+20*7
24,789,138
24,632,567
—2*5
6,088,490
+30*1
5.825,094
2,910.O5S
3,070,583
+3*8
2,565.970
3,704.550
+12*9
2,527.399
2,700,059
—27*8
+18*8
1,751,374
993,500
1,202,030
1,120,481
+9*9
1,121,285
+1*3
832,715
+21*9
—6*9
664.872
400,400
+20*1
393,100
351.802
—8*9
283,372
+27*3
841,079
324,776
d in to taL
d In to tal.
d in to tal.
—26*5 3.062.648,339 1.156.329.035

1903.

1902.

Inc. or
Dec.

190L

1900.

B o s to n .......................
P rovid en ce...............
H a rtfo rd .....................
New H aven................
W orcester...................
Springfield................
Portland......................
Fall R iver...................
L ow ell....... ................
New Bedford..............
H oly ok e.............. .......
Total New England.

8
134,733.532
4,910 000
2,967,126
2,080,059
1,747,742
1,860,451
1,510,584
1,223,075
484/267
565.542
505.833
152,588,211

%
1
137,588.946
—2 1
0,020,400
-18*5
3,230.471
—8*3
1.772,081 - -17*4
1,455 157
-20T
1.017.975
-15 o
1,339,827
-12*8
870,411
-40*0
028,28]
-22*9
003,918
—6*3
411,581 +22*8
155,551,848 —1*9

8
163,755.818
5.059.000
2.977.703
1,828,543
1.381.201
1,509.291
1,338,944
912,925
053,220
436.810
309.580
180,819.101

*
117.608,063
5.384,200
2,300,320
1.512.529
1,239 445
1.277,769
1,044,274
852,818
5KM78
398.394
231.542
134,305.532

Chicago........................
Cincinnati...................
C leveland...................
D e tr o it........................
Milwaukee ..............
Indianapolis................
Columbus.....................
P eoria ..........................
T o le d o ..........................
Grand R apids.............
D a y to n ........................
E va n sville..................
Akron...........................
Springfield, 111............
Y oun gstow n ...............
Kalam azoo..................
L e x in g to n ..................
Canton..........................
R o ck fo rd .....................
Springfield. O..............
B lo o m in g to n .............
Ouincy .......................
Decatur........................
M ansfield...................
J a ck son ville...............
Jackson........................
Ann A rb o r..................
Total Mid. W estern

174,954,531
23,190,450
15,949,759
10,995,383
7.104 823
6,601,159
4.453,600
2,964,721
3,753,557
2,007,152
1.837,8(50
1,571,032
78(5,200
750,574
634,956
728,296
537,030
072,777
375,297
587,511
415.418
404,181
258,214
247,300
216,344
223,083
114,303
202,390,771

108,052,043
18,018.050
13330.731
8,446,812
7,152,494
5.512.807
3.880.500
2,185.184
2,577,736
1,570,775
1,551,129
1,220,442
598,200
608,003
616,157
505.402
523,537
474,170
403,558
414,099
274,257
201,200
271,177
218.848
503.008
185,853
92,800
240.021.202

San F ra n cisco ............
Los A ngeles .................
Salt Lake City.............
Seattle..........................
Portland......................
Spokane......................
T a com a.......................
H e le n a ........................
Fargo............................
Sioux Falls..................
Total Pacific............

28,740,507
5,547,130
2,990.729
3,901,581
3,097.319
2.539.720
1,888.704
711,951
518.821
807.82S
60,244,350

+3-7
- -•28*7
- -19*0
- -30-2
—0*7
-198
-14-8
-35-7
u45*6
-27*8
-18-4
-28-1
-31 4
-23*4
+3*2
+28* 8
+2*7
+11*9
—6*9
-41 9
-51*4
- [-77*7
—4*8
+13*2
—57*1
+20*5
+23*2
+93

167.762,678
20.330,100
13.097,591
10.500.000
5,900,821
4.200.179
8,710,050
2,353.704
2,082,879
1,401,488
1,287,716
849,977
017.006
43-4.159
377.307
457.526
463,109
330,000
454.910
296,803
299,699
262,029

143,094,841
15,094,100
10,778,297
8,007,009
5,035.203
3,499,279
2.649,100
2,009,5(59
2,202,435
1,527.905
1,152.278
892,380
473,400
378.998
278,029
419,570
424.274
259,596
3-18,785
349,415
158,900
235,000

75.000
273,792
150,808
55,131
238,097.008

60,000
228.820
139,282
200.417,125

20,696,131
+7*7
5,309,846
+3*3
3,305.593 -11*1
-19-4
3,26 S. 056
2,740.374
-12-1
1,715.152 ^48*0
1,165,120
-62-1
642,531 +10*7
420,027 +23*5
296,529
+3*8
45.685,959 +10*0

23,536.158
3.223.329
3,935,977
2,416.291
2,213,489
1,048,437
1,154,865
432,971
361,861
212,523
38,525,901

19,339,378
2,500.247
1,895,410
2,304,506
1,948,583
1,155,444
868,489
559,133
330,024
15-1.647
31,056,527

19,603.082
16,303.976
19,930,978
17,406,815 +14*5
Kansas City................
12,340,159
10,434,849
10,532,759
12,773,121
+3*5
M in n eapolis...............
5,941,882
7,309.731
6,008,336
-11*0
8,181,111
Omaha..........................
0,106,358
5,248,640
5.508.632
-10*3
4,613,545
St. PauL.......................
4,431,074
-330
5.128,842
3.855,334
4,818.705
St. Joseph....................
-14*3
4.151.U04
4,153,100
4.099.521
4.112 322
D en v er........................
1,756,923
2.280.893 +26*0
1,510,534
2,875,000
Des Moines..................
+1*2
1,411,391
1,209,412
1,719,550
1.699,800
Sioux C ity...................
050.984
1,071,779 + 2 i'7
927,165
1,304,801
T o p e k a ........................
-5 *9
696,721
1,042,833
1.108,011
995,000
D a v en p ort..................
734,258 +10-9
814,840
732,690
524,018
W ichita........................
449,422
(JOO.OOO -25'2
635,568
Colorado Springs
232.967
217.799
+7*0
180.920
103,154
F r e m o n t........ ..........
65.259,334
50,632.835
58.045,047 +12*3
51,871 935
Total other W est’rn
31.947,982
50.866.221
53,448.975
—4*8
53,828,960
St. Louis................ ...
13.368,223
+0*3
8,825.002
14,209,777
12,360,708
New Orleans..............
10,156,718
10,472,939
—3 0
9.890,714
8,538,934
Louisville...................
5,590,486
6,483.981 -13'8
4.530,304
2.922,878
H o u s t o n .....................
3,707,000
3,086,500
+2*2
3.113,000
2,488,000
G alveston ...................
3,451.960
4.401,911
+7*4
4.587.194
4,727,629
Richmond....................
2,836.179
2,716,499
3.170.831
3,998,795 —5*4
Savannah.....................
+5*7
2,304.477
4,113.989
8,892.553
2,706,529
M em phis.....................
1,568.447
2,635.167
2,304,912 +14*4
1,924,975
A tlanta.......................
1,114.244
1,363.730 +83*7
1,339,055
2.504,288
Nashville.....................
1.500,335
1,297.636
1,556,194
+8*0
N orfolk ........................
1,080,039
755.178
—42*9
1,486,432
970,891
848.793
A ugusta......................
1,148,536
1,230,299 - -37*0
1,491,096
1,685,327
Fort W orth..................
775,194
-17*2
1,343,268
1,146,517
900,000
Birm ingham ...............
527,970
932,066
014.041
819,285 - -13*8
Little B ock.................
448,334
901.788
037.039
+50-9
563.299
K n o x v ille...................
487,000
012,000
+6*2
562,000
650,000
Macon...........................
398,659
731,467
502.153 - -45*7
400.542
Chattanooga..............
450,000
844,707 - -30*5
Beaum ont........... .
—
4-2
228,820
371,695
387,855
200.000
Jack son ville..............
974,688 Not include d in to tal.
Charleston..................
72,401.888
Total Southern....... 111,061,917 111,M5.003 —0*0 < 104,344,208
Total a ll................... 2.135.134.101 2,642.479,355 -13*1 ' ‘80.967.392 1,646.442,042
Outside New York.. 854,251,567 832.412.197 +2*6 827,882,007 650,521.828
Ca

n a d a

—

M ontreal.....................
T o r o n to ......................
W innipeg.....................
H alifax........................
Ottawa.......................
Q u eb ec. ...............
Vancouver...................
H am ilton....................
St. John................. ......
V ictoria ......................
L on d on ........................
Total Canada..........

25.822,149
16,245,858
5,640.763
1.795,288
2,339,252
1,017.381
1,286,022
1,089.340
901.906
531,072
950.128
57.3S5.091

+4*2
24.709,760
-2 *2
10,618,814
3,408,073 +65*7
1,991,257
-9 *8
2,252,138
+3*9
L3S0.045 4-17*2
919,559
-39*9
875,549
-24*4
791,209
-21*5
+4*8
507.205
N o t In c lu d e

53.514,268

20.412.421
13,810.582
2.104.200
1,550,000

15,259.949
11,108,003
2,024,289
1,541.928

1,529,693
808,605
1,003,993
913,464
752,474

848,369
S12.S54
752,523
714,842

42,891.432

83,068.357

d In to tal.
+7*1

1052

THE CHRONICLE,

[Yol.

l x x y i.

Tne speculatiou iii cotion bas become tte source of
no little anxiety. Prices hava been put up so high
W ith prolonged dulness as the feature of the Stock that to support the market must cause extreme ten­
Exchange market, trifles are all that are necessary to sion. I t is feared that the old problem of “ how to let
disturb the surface of affairs. True or not true, they go” w ill soon present itself as the only outcome. Even
seem alike to find easy circulation. Of the latter class granting, though, that* all the chief operators secure
was the story about steel billets, which had its brief a profit, the corner w ill work a lasting injury. For
day Tuesday and gave a decided downward impulse the time being the producer looks upon it as a great
to the securities of steel companies ; of course It was boom. Even that belief is misleading. A corner gen­
set afloat merely to aid a drive against the chief of erally occurs as now when the staple has almost wholly
them all, the United States Steel Corporation. A passed into the hands of the speculator. Hence as a
fact which this tale was able to hitch on to and ob­ rule the planter is benefited only so far as the in­
tain buoyancy from was that the production of iron fluence of the corner is carried over to and increases
had for two or three months indicated slightly larger the price of the next crop. In the meantime, in
stocks, from which it was assumed that production most cases the planter is led by the abnormal value
had for the time being overtaken and exceeded con­ to largely add to his acreage in cotton at the expense
sumption. Attention was also called to the fact that even of food products. The result the following sea­
the price of iron during the last two months had son must presumably be a phenomenal crop with the
shown some decline. Inasmuch as a year ago the outcome to the producer of a mimimum price for his
trend of the iron market was in the opposite direction staple instead of the maximum and the necessity of
and reached very high figures, a moderate falling off buying food for his family and live stock.
ought to be expected now. Yet this decline and sltua
If, moreover, the corner induces spinners to stop
tion were used to give force to the claim that a general or lessen their make of goods, to just that extent
collapse in the metal trades was in sight, and to make the planter with his new crop is handicapped. On
this assumption appear plausible the assertion was the other hand, to the spinner the corner is an abso­
affixed to the foregoing by the raiders that billets had lute loss. That is so because advances in the price of
also begun to tumble, had already been marked down the raw material caused through a corner are tempo­
$2 per ton, and that further declines were sure to rary, and consumers of goods are aware of that; such
follow in the near future.
being the case, if the spinner advances his product to
There was, as we have said, but very little truth to cover the enhanced value of the cotton used, every
support this statement and forecast. The conditions individual buyer delays purchases. This situation en-.
of the market to-day are such, with so many large forces upon the spinner short-time and on some occa­
undertakings already in sight, that although a repe­ sions even stoppage, which is a further material loss
tition of last year's activity is not anticipated, it is a to his machinery and in sales of goods. Manufactur­
possible contingency a month or two hence. Up to ers are not afraid of a high price for the staple they
this moment steel billets have continued in eager de­ use; they are best off when the price is stable or ad­
mand, there being a decided scarcity in the supply. vancing.
Besides, had there been an over-production and an
A curious feature in this cotton speculation is that
actual cut of $2 in price, the effect of the decline although the assumption on which it was started has
would be wholesome—leading to a check in the steel turned out to be incorrect, the venture has passed
imports from Europe to be followed by an absorption through three distinct associations of manipulators,
through the home demand of any over supply caused with differing degrees of gains or losses. The effort
by these imports; or, were this remedy not effective, a to sustain price was at first based on a very-amall-crop
very little larger drop would increase the exports of estimate. That idea drew its support chiefly from the
steel from the United States, for it must be remem­ Agricultural Department's monthly returns through
bered that we have the world's markets to look to for the summer and autumn, culminating in the an­
consumers if prices fa ll; it is believed that we nouncement of October 1 1902, said to be made on
can undersell all other producers. No such slump information received to September 25, and reaching
in the iron market is consequently possible as has the conclusion that the average condition of the crop
in years that are past been an incident in the history for all the cotton States was only 58*3 per cent, the
of the trade after periods of inactivity.
lowest condition ever recorded at that period of
Still it is a fact that a portion of the public cannot growth. The leader in this earliest speculative
shake itself loose from a fear of the return of one of the movement was Mr. Price of this city. His opera­
old- style depressed, stagnant periods. Be assured, how­ tions began in the latter part of summer, and were
ever, that trial is not in reserve for the country. The continued into the fall, indeed until about the first
United States Steel Corporation was formed to meet of January, all that time supporting the small-crop
just such a contingency and has hitherto been man­ idea by publishing reports of his own gathering, giv­
aged so as to be able to provide against its recurrence. ing credence to a belief in a very short yield. The
Economies and new devices have been introduced result on prices of the staple was that instead of a
u ntil iron can be turned out at a much less cost and decline as the time drew near for large marketings,
at a comfortable profit with the selling prioe materially they were at first stationary and subsequently tended
lower than it could have been made in past years. upwards in a moderate way. About the first of Jan­
The strength of the iron and steel situation, conse­ uary Mr. Price sold out, having made, as reports said,
quently, consists in the fact that the surplus product a large sum of money; how much, if anything, he has
can always find a market abroad at a remunerative lost since, no one knows. A t all events the next
price; so that when the range of values is lower, the manipulator was Mr. Sully, whose faith in better prices
trade w ill be in position to make and sell more iron was chiefly on a large consumption of cotton in Europe
as well as in America. This idea was a safer
and steel and keep up its income.
reliance, especially as the belief in a moderate crop
T H E F IN A N C IA L S IT U A T IO N .

M ay 16, 1903.]

THE CHRONICLE

had only very slowly been removed. Mr. Sully has
been selling out all this week, rnmor claiming with a
net gain of about two million dollars. At this point
Mr. Brown of New Orleans and his friends, who It
was believed had hitherto been acting with Mr. Sully,
took up what the latter dropped, and as the week
closes this third clique Is still in control. All this
tends to bring disfavor on our Cotton Exchange and
on the banks that furnish the funds. Such operations
ought not to be possible.
On Monday the Bank of England announced that
the number of applications for the Transvaal loan of
£30,000,000 was about 115,400, representing a total
of £1,174,000,000 and on Wednesday It was given out
that it had been found Impracticable to make any
allotments of the new loan to applicants for amounts
under £2,000. Applicants for £2,000 and upward will
receive about 2’ 6 per cent of the amount applied for.
The terms of subscriptions to the loan required
a deposit of three per cent, and it is very interesting
to note how comparatively small the disturbance has
been to the London money market in view of the
enormous amount of the subscriptions. This result
was due to the Bank immediately loaning the funds
as deposited for subscriptions and to a free use of
credits, the Bank lending itself in every proper way
to facilitate the flotation. The weekly statement of
the Bank on Thursday reflected this action, loans
showing an increase of £18,881,000, or more than
$90,000,000, and an increase of £20,021,000 in
deposits.
The labor situation, now that It has reached the
desperate stage and has led to a general organization
of employers against the intolerable demands of their
men, is likely soon to assume a more restful state. An
important point that may be gained by a confeder­
ation made up of the heads in our industrial structure
will be its Influence on politicians and office seekers,
little and big. It suggests to those classes power and
voteB. The idea of late has seemed to be that the
man who carries all the bnrdens in bad as well as in
good times, runs all the risks of a business enterprise,
and furnishes all the oapital, was not to be considered
In settling party policies, in framing industrial laws
or in posing as candidates for office.
When these politicians awake to a realizing sense
of the fact that employers and business men have
votes, the same as the laboring men, that they are
acting collectively and unitedly, and that the mem
bership of the newly organized Business Men's Asso­
ciations is large enough to control elections, we may
be sure that business interests will receive some con­
sideration at the hands of party leaders, and that
legislation will no longer be of the one-sided character
it has been in the past. In this sense the earnestness
and determination displayed by business men and
employers in the matter, and the Immense numbers
that are joining in the movement, constitute one of
the most favorable signs of the times.
In another particular the movement Is apt to be
helpful. This feature was forcibly brought out by
Oscar S. Straus In his remarks Thursday night at
Boston before the American Social Science Associa­
tion when he said “ the solution of differences lies
along the lines of evolution, not revolution; and in
my judgment that evolution will best be promoted, as
the first step, by organization on the part of employ­

1053

ers in tiielr respective branches of industry. By this
means they will be best able to cope with and restrain
organized labor in resisting uneconomic demands and
unreasonable exactions, and at the same time they
will be best able to agree among themselves to acoord
such terms and conditions as to wages, hours and em­
ployment as tend to Improve the standards of life and
living among laboring men.”
One of the grotesque features of the week regard­
ing labor matters has been the announcement of the
granting of a temporary injunction by Judge Dickin­
son in the District Court at Omaha against the Busi­
ness Men's Association recently formed there. The
restraining order was granted on the application of
an attorney representing the labor unions, and was
issued pro forma, we suppose, without any investiga­
tion of the facts, this being a not unusual course In
the matter of granting preliminary orders of this
kind. The things which the Business Men’s Asso­
ciation are forbidden to do are, In the main,
precisely the things they would not be apt to
do, and have no intention of doing. For in­
stance, they are restrained “ from refusing to
sell commodities and supplies of merchandise to
employers of such union labor and from discriminat­
ing against such persons In the prices charged for any
such commodities” and “ from paying or offering
any money to officers or members of unions, directly
or indirectly, as a bribe to do or not to do any act in
pursuance of any agreement of any of said defendants
against such unions.” These are the tactics of labor
unions, not of business men, and only an attorney for
a labor union Gould have drawn up an order of that
kind. The order also embodies a number of other
things, some of which are so sweeping and so absurd
that we are confident that they will not be allowed to
stand when the matter comes up for argument on the
question whether the restraining order is to be con­
tinued.
Apropos of our remarks above with reference to the
developments during the week in the iron and steel
trades, the monthly statement of the “ Iron Age ” of
this city, issued the present week, possesses peculiar
interest. The “ Age” finds that there has been an­
other noteworthy increase in iron production, and re­
ports the capacity of the furnaces in blast May 1st at
383,897 tons per week as against only 376,576 tons per
week on April 1st, 354,733 tons on March 1st
and 343,111 tons on Feb. 1st. It is need­
less to say that this surpasses all previous
records in the way of large output. At 383,897 tons
per week, production is at the enormous rate of 20
million tons a year. Moreover, the “ Age” reports
the actual output for April at 1,650,000 tons, which
is also at the rate of 20 million tons a year. Our con­
temporary thinks that In May the make of Iron will
reach 1,700,000 tons. As our contemporary well says,
however, the surprising and most significant fact in
connection with these figures is that the aggre­
gate of furnace stocks sold and unsold (not
counting the holdings of steel works producing
their own iron, which are never Included In
the statement of stocks) actually decreased during
the month, standing at 162,742 tons May 1 as against
170,757 tons April 1. The Inference is clear that
consumption has absorbed not only the enormous
home production but also current importations of
foreign Iron, which Is still coming in on orders given

1054

THE CHRONICLE.

some time since. We may therefore accept the con­
clusion of the “ Age" that the situation statistically
is “ thoroughly sound." Are we not justified, too, in
goiDg a step further and asserting that if consump
tion is so large on the basis of the recent high prices
prevailing (for of course the deliveries of iron have
been in the main on past orders), it will rise to still
larger proportions when a lower level of iron and steel
values is established, as appears to be one of the pos­
sibilities of the early future.

[V o l . L X X V I.

able to make quite a satisfactory ehowiDg in the
final result, the surplus above charges proving to be
$1,509,280 in 1903 against $642,995 for 1902. The
call for the dividend, however, was $211,411 heavier
on account of the larger amount of stock. The im­
provement for the March quarter was somewhat more
than sufficient to wipe out the loss in net sustained the
previous six months on account of higher expenses.
For the nine months of the fiscal year to March 31 net
above charges is only $229,836 better than in the
same nine months of the previous fiscal year (being
Another favorable feature in the situation is the $6,719,594 as against $6,489,758), while on the other
splendid prospects existing for growing winter wheat. hand the call for dividends was $634,233 larger.
We referred to this in an article in our issue of April
18, but since then there have been rumois of serious
There was no change in official rates of discount by
damage by reason of the extreme cold weather which any of the European banks this week. The Bank of
was experienced for a time during the late month. Bombay advanced its rate from 6 per cent to 7 per
We see, however, Ghat the Agricultural Department cent. It is announced that the Colombian Congress will
in its monthly return issued this week, showing the assemble in extraordinary session on June 20 to con­
condition on the first of May, makes very little reduc­ sider the Panama Canal treaty. Reports are current
tion from the high average reported the first that there will be much opposition to the ratification
of April. The Department has lowered the general of the treaty, though Panama dispatches say that it is
average less than 5 points, making it 92-6 believed by those who are acquainted with Govern­
May 1 as against 97-8 April 1. At 92 6 comparison ment affairs that the convocation of the Congress
is with only 76'4 on May 1 last year. Further­ means that President Marroquin is confident of hav­
more, the area under wheat is much larger, owing to ing enough support to secure the approval of the
the fact that only a comparatively small part of the treaty. Advices received at Washington say that the
area sown has been winter-killed this time, whereas financial condition of Colombia is deplorable. The
the previous season a very large proportion was killed issue of paper money with which the country has
in that way. The Department reports the area under been flooded was suspended on March 1st, and conse­
cultivation now as 38,107,000 acres, or only 964,000 quently the Government early in April was almost
acres less than the area sown last autumn, and 4,526,000 entirely without funds. No interest has been paid on
acres, or 15'8 per cent, in excess of the area of winter the national debt since the war began in 1899. At
wheat h a r v e s te d in 1902. With the condition over 16 one time last year exchange on New York was 22,000,
points better than on the first of May 1902 and the area and it was expected that the rate of exchange would
nearly 16 per cent greater, it is obvious that the winter- be even higher this year, for there were over one bil­
wheat crop wili be much in excess of that of last year, lion dollars of Colombiau paper afloat and half a bil­
even though there should be some unfavorable devel­ lion more would be issued to pay war expenses. The
opments between now and harvest time. We see that foreign debt amounted in 1896 to £2,700,000, on which
dispatches in the papers yesterday morning stated the interest was at first
per cent and later 3 per
that the Kansas wheat crop was in danger, as it was cent.
estimated that 75 per cent of the crop is invested
The feature of the statement of the New York
with the Hessian fly. Statements like this need to Associated Banks last week was an increase of $9,001,be taken with a great many grains of allowance. 200 in loans. The gross cash reserve was augmented
Even if some damage should result in that State from by the net amount of $1,365,600, but the reserve re­
the cause mentioned, there is every likelihood that the quirements were increased by $2,518,625 through a
yield of Kansas will be greatly in excess of the small gain of $10,074,500 in deposits, and consequently the
yield of last year, when the condition May 1 stood at surplus reserve was reduoed $1,152,025, to $10,029,only 57, as against 95 now.
825. Calculated on the basis of deposits less those of
$37,248,800 of public funds, the surplus was $19,The great increase that is taking place in the oper­ 342,025. The bank statement of this week should
ating expenses of our railroads is well shown in the reflect the shipment of $1,503,447 62 gold to Paris on
statement for the March quarter just filed at Albany Tuesday and of $1,250,000 to Buenos Ayres on Fri­
by the New York Central & Hudson River RR. Gross day. There was a transfer hither of $195,000 gold
earnings for the quarter increased in a noteworthy from San Francisco; this was partly offset by a trans­
way, no less than $3,312,842 being added to last year's fer of $100,000 to New Orleans.
Applications at Washington for the exchange of
total of the gross. But this was accompanied by an
allmost equally large augmentation in expenses, these refundable bonds for the 2 per cent consols have been
being $2,785,719 in excess of those of the previous comparatively small this week. This falling off is
year, leaving the comparatively small increase of probably due to the fact that the exchanges by the
$527,123 in net earnings. Fortunately the company national banks had on April 30 (see Chkoi^iclb May
effected some saving in interest during the three 9, page 1011,) reduced the amount of the refundable
months on account of the falling due the first bonds held as pledge for circulation to $7,073,870,
of January of a large amount of 6 and and consequently the banks now have even less of
7 per cent bonds and their refunding at 3£ per cent. these bonds to offer for refunding. The banks on the
As a consequence the fixed charges for the three above date also had $15,975,270 of these issues, not
months of 1903 were only $5,047,861 against $5,270,- including those in the Sub-Treasury, as pledge for
691 for the three months of 1902, a decrease of $222,- deposits, but there is less incentive to exohange these
830. Adding this to the increase in net the company is bonds than there is those held against circulation.

M a y 16, 1903.]

THE CHRONICLE.

Most of the large savings banka and other Institutions
have already exchanged their bonds, and probably
not many of the refundable issues are now held by
these corporations. Individual holders and those
representing estates would lose Interest through re­
funding, and this fact, It is thought likely, prevents
them from offering their bonds for exchange. The
applications for refunding since April 1 to the close
of business on Thursday May 14 were $66,272,800, of
which $56,008,200 coualsted of 4 per cents. The
actual exchanges were $65,309,800. The applications
for exchange on Friday were about $1,000,000.
Money on call, representing bankers’ balances,
loaned at the Stock Exchange this week at 2| per
cent and at 2 per cent, averaging about 2£ per cent.
On Monday, Tuesday and Wednesday loans were at
per cent and at 2 per cent, with the bulk of the
business at 2£ per cent. On Thursday transactions
were at 2f per cent and at 2 per cent, with the ma­
jority at 2£ per cent. On Friday loans were at 2£ per
cent and at 2 per cent, with the bulk of the business
at 2£ per cent. Banks and trust companies quote 2£
per cent as the mlmimum. Time loans are offered
with Borne freedom by banks for periods less than
four months, but for longer dates the offerings are
chiefly by trust companies and institutions other than
banks. Some foreign money is being placed for nine
months. Quotations for domestic time loans on good
mixed Stock Exchange collateral are 3|@4 per cent
for sixty to ninety days, 4 per cent for four to five
months, 4| per cent for six months and 5 per cent for
eight months. The demand is good for the longer
periods and some business is done for shorter dates,
chiefly four months. Commercial paper continues
quiet, with the buying principally by out-of-town
banks. Rates are 4^@5 per cent for sixty to ninetyday endorsed bills receivable, 4f@5£ per cent for
prime and 5i@5£ per cent for good four to six
months single names.
The Bank of England minimum rate of discount
remains unchanged at 4 per cent. The cable reports
discounts of sixty to ninety day bank bills in London
3£ per cent.
The open market rate at Paris is
2f@ 2f per cent and at Berlin and Frankfort it is
3^ per cent. According to our special cable from
London, the Bank of England gained £16,800 bullion
duriDg the week and held £35,374,962 at the close of
the week. Our correspondent further advises us that
the gain was due to imports of £282,000, of which
£50,000 from Egypt, £28,000 from miscellaneous
sources and £204,000 bought In the open market, to
exports of £260,000 to South America and to ship­
ments of £5,000 n et to the interior of Great Britain.
The foreign exchange market has been firm, though
remarkably dull this week, and the fluctuations have
been within an extremely narrow range. The in­
activity has been due to the fact that the rates for
sight sterling and for francs have been so close to the
gold-exporting point that bankers who were required
to remit and were unable to procure bills to an
amount sufficient for their purpose deferred remit­
tance until the opportunity offered for sending gold
In lieu of exchange. Bankers whose requirements
were for smaller sums have absorbed all offerings of
bills, thus contributing to tne firm tone. The supply
of exchange Is small and soarcely enough to meet the

1055

counter demaqds. There are no drafts against cot­
ton, but some grain bills are coming forward; these,
however, are chiefly deliveries on contract. Bankers
report that a few loan bills have be en negotiated this
week with the provision that they shall be renewed as
they mature, thus extending the loans into the early
months of next year. Though there would appear
to be Borne prospect of profit In the sale of
long sterling, with the expectation of ooverlng later In
the season, no transactions of this character are re­
ported. On Tuesday Lazard Freres shipped $1,503,447 62 gold to Paris In lieu of exchange, and it was then
thought probable that a further consignment would
go forward by the steamer sailing on Thursday, but
no gold was sent. There was on that day a fall in
exchange at Paris on London to 25 francs 16 centimes,
and it was regarded as likely that, should there be no
recovery in the rate and if the New York market re­
mained firm, some gold would be shipped on Tuesday
of next week; the rate reacted, however, on Friday to
26 fr«ncs 17 centimes. The price of bar gold and of
American eagles declined in London on Thursday 1o
77 shillings 9£ pence per ounce for the former and to
76 shillings 4£ pence for the latter, indicating a lighter
demand for gold at the British capita); and this makes
it improbable that there will be any shipments of the
metal to London. There was an export of $1,250,000
gold coin hence to Buenos Ayres on Friday—$500,000
by the London & River Plate Bank, Ltd., of which
George O. Gordon is the agent, and the remaining
$750,000 by a South American house. The Assay Office
paid $839,021 08 for domestic bullion. Gold received
at the Custom House during the week, $29,892.
Nominal quotations for exchange are 4 85£ for sixty
day and 4 88£ for sight. Rates for actual business
opened on Monday unchanged, compared with those
on Friday of last week, except for cables, at 4 85@
4 8510 for long and 4 88@4 8810 for short; cables
were 5 points lower at 4 8860@4 8870. On the fol­
lowing day long and short rehaained unaltered, while
cables fell 10 points to 4 8850@4 8860. The market
was firm and unchanged as to rates on Wednesday.
On Thursday, though there was a shade easier tone
for sight, closing rates were at unaltered quotations.
On Friday sales were at 10 points lower all around
but the market closed steady.
The following shows daily posted rates for exchange
by some of the leading drawers.
D A I L Y P O S TE D B A T E S Y O B Y O B B IG N E X C H A N G E .

B r o w n B r o s ........{ » * £
B a r in g ,
< 60 d a y s
M a g o u n A C o .. ( B ig h t ..
B a n k B r it is h
160 d a y s
N o . A m e r i c a . . 1 B ig h t ..
Bank o f
( 60 d a y s
M o n t r e a l......... ( B i g h t ..
C a n a d ia n B a n k ( 6 0 d a y s
o f C o m m e r c e .. ( S ig h t ..
H e ld e lb a c h . Io k - j 60 d a y s
e lh e lm e r A C o . ( B ig h t ..
L a s a r d F r e r e s ..

j

M e r c h a n t s ’ B k . j 60 d a y s
o f C a n a d a ........( S i g h t . .

ru t
M a y 8.

M o w .,
M an 11

4 36*
*88*
4 85*
4 88)4
4 ;6 *
4 88*

86*
88*
86*
88*
8S*
88*
86*
88*
86*
88*
86*
88*

4 80*
4 88*
4 86
488
4 86*
4 88*
4 86*
4 88*
4 86*
4 88*

86*
68*
86*
88*

T u b s . ' W e d ..
T h u s ..
M a y 12 M a y 13. M a y 14
86*
88*
85*
88*
86*
88*
86*
88*
is *
85*
88*
65*
88*
85*
88*

j

i

85*
88*
86*
88*
86*
88*
86*
88*
86*
88*
85*
88*
85*
88*

SB

86*
88*
85*
88*
85*
88*
86*
88>6
86*
88*
85*
88*
86*
88*
85*
88*

Y *I
M a y 15
85*
8d*
85*
88*
86*
88*
85*
88*
86*
8c*
85*
88*
85*
88*

a*

The market closed at 4 8490@4 86 for long,
4 8790@4 88 for short and 4 8840@4 8850 for
cables. Commercial on banks 4 84£((|4 84f and
documents for payment 4 84@4 86. Cotton for
payment 4 84@4 84±, cotton for acceptance 4 84£@
4 84f and grain for payment 4 84f@4 85.
The following gives the week’s movements of money
to and from the interior by the New York banks.

1056

THE CHRONICLE.

W e e k B n d i n t M a y 1 5 .1 9 0 8 .

P e t In U H ot
M o v em en t.

by
B M fV td by
N . Y . B anka. N . Y .B n n k t .

O t U y U T t T t i n n . i m i t m t i - m _______

.................. ..............................

10.888,000
1,100.000

88,110,000
1,094,000

G a in . $3,807,000
G a in .
18,000

T o t s ! s o ld a n d lo c a l t e n d o n .......

87.489.000

84.810.000

G a in . 83,219 O0C

With the Sub-ifeasury operations the result is a*
follows
W eek B n d i n t M a y 1 5 .1 9 0 3

I n to
B etn kt.

O u t« /
B an ka.

N i l >7k*m* 4**
B a n k H o itin s* .

B a n k a in t e r i o r m o v e m e n t , ai a b o v e
S u b - T r e a t . o p e r a t io n s ............................

87.429.000
80.100.000

84.210.000
82.060.000

G a in . 83,219,00!!
L o s s . 8,650,000

T o t a l s o l d a n d l e s a l t e n d e r * ........

887.629.000

320,800,000

G a in .

(069.000

The following table indicates the amount of bullloic
In the principal "RJnronean banka
M a y 15. 1902.

M a y 1 4 ,1 9 0 3 .
B ank of
S a ver.

G old.

B n s la n d ........
F r a n c e .............
G e r m a n y .....
S n a i l s .............
A a i . - H n n g 'y .
S p a i n ...............
I t a l y ........... .
N e t h e r la n d s ..
M at B e l s ’ m . .

X
85,874.962
9 9 ,4 46280
32.063,000
70,934.000
45,928.000
14,601.000
17,788,000
8,934,900
8,183,833

.......
X

44,490,160
11.478,000
8 580,000
18.089,000
20,148,000
3,868,400
0,501,000
1,600,607

lo ta U

Gold.

X
X
86,374.962 85.380,540
143,936,430102,724,461
44,120,000 39,359,009
86,494,000 71.107.000
68,997,000 44,200,000
84,052,000 14,110,000
10,994,490 10,149,000
4,782,006
10,433,500
8,211,838
4,700,000

Stiver.

lo ta i.

X

X
86,300.548
44.431,801 147.156,252
18,735,000 63,093,000
8,003,000 79,170,000
12,404,000 60,004.000
18,400.000 32,510,090
2,165.500 18,308,500
0,018,000 11,805,006
1,005 087
4,817,000

T o L t h i i w e e s 329,848,481 108080317 437,710,298 381,001 330 107354588 438,415,893
T o t . p r e v . w ’k 323.064.871 107071000 436.736,037 882.734.520 108200966 140 9S5.476

R U S S IA

AND

M A N C H U R IA .

The curious diplomatic brush between Russia and
the other nations concerned in the Chinese Empire’s
fortunes has come and passed like the lifting of a cur­
tain which has quickly dropped again, shutting from
view the glimpse which it momentarily gave of a pic­
ture in modern history. The incident has been chiefly
remarkable for the interesting alignment of nations
which was suggested by the anti-Russian protest.
The association, in common purpose, though by no
means in diplomatic alliance, of Great Britain, Japan
and the United States, has been instructive in an es­
pecial way. It has shown in what degree the foreign
powers are vitally interested in the Chinese trade.
Briefly, the facts are these. Russia, on the recent
pacification of China, occupied Manchuria with its
troops, and showed no haste to withdraw them. It
was common enough assertion, at the conclusion of
the Boxer trouble, that Russia did not propose to
withdraw at all. What reason existed for such a
notion may be readily judged by the most cursory
glance at the map of Northern Asia; the fact being
that, geographically, the province of Manchuria is a
slice cut out from what is called Asiatic Russia. If
the southern boundary line of this Asiatic dominion
were prolonged from the Irkutsk district to the
Japan Sea, it would cut nearly in two this Chinese
province of Manchuria, and touch at Viadivostock.
Geographical considerations do not always count;
Denmark, Holland and Portugal would otherwise be
anomalies as independent States.
But Northern
China presents a somewhat differens proposition from
European domains under the protection of jealous
rival Powers, and there is probably little doubt that
Russia, with the patient working-out of an assumed
destiny which haB marked its edging-forward process
of nearly a century in the direction of Constantinople,
has taken for granted that, in the fulness of time,
Manchuria wlll^necessarily be hers. That the com­
pletion of the trans-Siberian railway added, from Rus­
sia’s point of view, to the seeming reasonableness of
the problem, needs no argument.
The recent excited diplomatic stir has not been
caused by the fact that Russia was extending to Man­

[V o l . L X X V I.

churia what the European occupants of Southern
China have called the “ sphere of influence.” The
point to which the eyes of all foreign powers are now
directed is the control of Chinese seaports. The car­
dinal point in the understanding between the Powers,
at the conclusion of the trouble of 1900, was that no
exclusive rights should be ceded in the Chinese terri­
tory. The controversy of the past three weeks has
based itself wholly on this question.
The arrangement between the Powers was definite.
On Russia’s part it was stipulated that by April of
this year Bhe should have withdrawn her soldiers from
Manchuria. She did not do so, alleging the plea that
they were still needed for maintenance of order. Sub­
sequent to the arrangement referred to, reports arose
that a secret Russo-Chinese treaty had been con­
cluded granting Russia peculiar privileges and tacitly
superseding and nullifying the agreement of the
Powers. Secretary Hay then—about a year ago—
notified Russia’s representative that “ the United
States could look only with concern upon any arrange­
ment by which China should extend to a corporation
the exclusive right within its territory to open mines,
construct railways or exert any other privileges.” To
this the Russian Envoy at Washington replied:
It is true that Russia has conquered Manchuria, but
she still maintains her firm determination to restore
it to China and recall her troops as soon as the condi­
tions of evacuation shall have been agreed upon and
the necessary steps taken to prevent a fresh outbreak
of troubles in the neighboring territory.
It is impossible to deny to an independent State
the right to grant to others such concessions as it is
free to dispose of, and I have every reason to believe
that the demands of the Russo-Chinese Bank do not
in the least exceed those that have been so often for­
mulated by other foreign companies, and I feel that
under the circumstances it would not be easy for the
Imperial Government to deny to Russian companies
that support which is given by other governments to
companies and syndicates of their own nationalities.
This explanation has been followed this season, first,
by demands on China as condition precedent to evac­
uation, and, next, a week ago, by the formal occupa­
tion by the Russian troops of Niu-Ohwang, the south­
ernmost port of Manchuria. It is this move really
which drew forth the firm and emphatic protests of
Japan, Great Britain and this country, and which
caused the prompt withdrawal of the troops from the
treaty city.
Thus the case stands to-day—a very curious group
of protesting governments, inspired by equally curious
and unusual circumstances. It is by no means easy
to say what the next move in the game will be. It is
a common criticism that Russia, in her secret negoti­
ations and supplementary demands on China, has
broken the faith pledged to the other States at the
conclusion of the Boxer trouble. On the face of
things something much resembling this seems to
have happened. How far this straining of inter­
national good faith is a result of the ponderous
oureaucracy of Russia, in which the right hand
often appears not to know what the left hand is
about, may be an open question. But it hardly
throws any light on the problem, What is to come of all
this situation? Will Russia now at length withdraw?
Diplomatists appear to doubt it. If not, how are in­
ternational relations to be in the end affected? Eng­
land will almost certainly do nothing beyond the
filing of a protest. The very energy of Lord Lansdowne’s statement that formal intrusion of other

THE CHRONICLE

M ay 16, 1908.]

Powers into the Persian Gall would be resisted with
all means at Great Britain’s disposal, was in effect a
notification that England’s vital interests were else­
where than in the Japan Sea. Few people look for
other than moral pressure from the United States.
But the position of Japan is very different. With its
ambitions in the direction of Korea, the notion of the
cutting-off of that peuinsula by a~cordon'drawn be­
tween two fortified Russian ports, with a definite
Russian “ sphere of influence” behind them, would
hardly be looked upon with equanimity. Interest in
the situation is not diminished by the faot that fu r­
ther and positive developments in the Russian plan of
action cannot be long delayed.

T H E A B S O R P T IO N

OF

ST. L O U IS

c6

SAN

F R A N C IS C O B Y R O C K IS L A N D .

The appearance this week of the ciroular of J. P.
Morgan & Co. announcing the terms upon which the
common stock of the St. Louis & San Francisco Rail­
road Company is to be purchased by the Rock Island
—that is the amount of Rock Island Company stock
and of Chicago Rock Island & Pacific Railroad Com­
pany bonds which is to be given in exchange for St.
Louis & San Francisco shares—furnishes definite con­
firmation of the reports which have been in circulation
for a long time past of the contemplated absorption of
the San Francisco system by the Rock Island. The
transaction is undoubtedly a very important one, for
the two systems together will constitute one of the big­
gest railroad combinations in the country. The union
also means much in the way of the avoidance of un­
bridled competition in the Southwest, which might
have been an outcome in the future had the two
properties remained separate.
Both the systems have separately undergone
large expansion within recent years. Just about
twelve months ago the Rock Island acquired control
of the Choctaw Oklahoma & Gulf, including the
Choctaw & Northern, and also acquired the St. Louis
Kansas City & Colorado, the latter being intended to
provide (in connection with some new mileage) an en­
tirely new line between St. Louis and Kansas City.
The effect of these acquisitions was to change
materially the character and ramifications of the Rock
Island system, giving it outlets at St. Louis and
Memphis in addition to the prevlohs outlets at Kan­
sas City and Chicago. Important extensions were also
planned in Texas, including a line to Galveston,
which latter, 83 well as some of the others has
now become unnecessary, sinoe the company has just
acquired a half interest in the Houston & Texas Central
and some of the other Texas lines of the Southern
Pacific Company.
The St. Louis & San Francisco in a similar manner
had been spreading out in various directions. I t
acquired the Kansas City Fort Scott & Memphis, in­
cluding the Kansas City Memphis & Birmingham,
which last gives a line into the heart of the South
at Birmingham ; also the Fort Worth & Rio Grande,
the St. Louis & Oklahoma City Railway, the Oklahoma
City & Western and the Arkansas & Choctaw, these
furnishing an extensive system of lines in Oklahoma,
the Indian Territory and Texas. The St. Louis
Memphis & South Eastern, providing for a line from
St. Louis to Memphis, is also part of the system. The
most important move of all, perhaps, was made when
the St. Louis & San Francisco took over the Chicago

1057

& Eastern Illinois, with which it had no physical con­
nection, thoagh a link joining it with the same is now
being built.
A t present the Rock Island embraces about 8,000
miles of road and the St. Louis & San Francisco about
5,000, making 13,000 altogether. But much new
’mileage is in process of construction and much more
is projected, besides which there is more or less mile­
age indirectly controlled. Altogether, it seems safe
to assume that before long the combined lines will
comprise at least 15,000 miles of road. Eventually
the total may prove much larger than this, especially
considering the company’s acquisition of a half inter­
est in the Texas lines of the Southern Pacific.
A t the figure given the combination w ill not, how­
ever, be the largest in the country. The three sys­
tems comprised in the Northern Securities Company
made reports for the year ending June 30 1902 on a
total of 18,378 miles of road, and the aggregate now
is larger. The Pennsylvania Railroad on December
31 1902 reported 10,556 miles of road operated or
controlled, but this did not include the Baltimore &
Ohio, which is operated separately, and which com­
prises 4,500 miles; nor did it include the Norfolk &
Western, which operates over 1,700 miles, nor the
Chesapeake & Ohio, embracing over 1,600 miles, and
which is jointly owned by the Vanderbilts and the
Pennsylvania Railroad.
The union of the San Francisco and the Rock Island
companies serves as another illustration of the prevail­
ing trend in railroad affairs, by which the railroad
mileage of the country in each important geographical
division is gradually passing into the possession of
two or three strong combinations of Interests. In the
New England States the Boston & Maine and the
New York New Haven & Hartford long since divided
up between them the greater portion of the mileage
in that section. In the Middle and Middle Western
States Vanderbilt and Pennsylvania Railroad inter­
ests are dominant, even though some roads remain
which can not be claimed as definitely attached to
either interest and the Gould-Wabash combination is
looming into prominence. The negotiations now in
progress for the disposition of the Hocking Valley
furnish the latest indication of how the smaller roads
are finding lodgment in the larger. In the South the
consolidations and absorptions of late years have
placed practically all the mileage under the wing of
the Southern Railway or of the interests allied with
It, leaving the Seaboard A ir Line as the only outside
system of moment.
In the territory between Chicago and the North
Pacific coast the Northern Securities combination has
united three of the largest railroad undertakings, and
these, with the Chicago & North Western (the latter
comprising the St. Paul & Omaha) and the Milwaukee
& St. Paul, now exercise fu ll sway in that part of the
country, though there are also one or two minor lines
which remain as free-lances, such as the Wisconsin
Central and Chicago & Great Western. In the cen­
tral part of the trans-Missouri region the Union Pa­
cific, with the Denver & Rio Grande and the Gould
mileage, Is practically master of the field, as it controls
on the one hand the Oregon Short Line, giving an out­
let to the Northern Pacific coast, and on the other the
Southern Pacific, giving an outlet to San Francisco
and the South Pacific coast. In the Southwest the
new Rock Island-San Francisco combination will
have the Gould roads and the Atchison Topeka &

1058

THE CHRONICLE.

Santa Fe as the only two large systems to deal with,
though the Missouri Kansas & Texas, the Kansas City
Southern and Chicago & Alton also still remain*
As a north-and-sonth line the Illinois Central belongs
in a class almost by itself.
A ll of this suggests that the railroad situation of
the future is going to be quite different from what it
has been in the past. There ought to be, for one
thing, considerable more stability of rates, even in
times of trade reaction and business depression. This
does not mean that there w ill be no competition or
rivalry; there w ill, but it w ill be conducted more cau­
tiously and along different lines. Some new compet­
ing routes follow directly as the result of the
present consolidations. For instance, the Chicago
& Eastern Illinois, after the completion of the
lin k connecting it with the St. Louis & San Fran­
cisco, w ill, in conjunction with the St. Louis Mem­
phis & South Eastern, form a new route between
Chicago and Memphis, and ultimately there w ill be
an entirely new route as far south as New Orleans.
Nevertheless the grouping of roads in the different
geographical section of the country under two or
three leading interests must prove beneficial to
security holders and the public alike. These com­
binations w ill be stronger than the various separate
roads of which they are composed could have been,
and by reason of that fact they w ill be able to furnish
better and increased facilities to the public. I t w ill
also be easier to retain control over rates without
necessarily abolishing all competition. This follows
from the circumstance that there w ill be fewer inter­
ests to consult, making it possible to avoid to a large
extent rate cutting and rate wars which have been
the bane of both shipper and carrier in the past.
The violent fluctuations in rates resulting from
such wars have always been deplored by shippers,
since they rendered it impossible to make reliable
computations as to the cost of goods and products
delivered in distant markets; and they have of course
been seriously detrimental to security holders in the
different railroad properties because of their disastrous
effects upon railroad revenues. W ith these features
of the situation in large measure removed, the future
is not greatly freighted with adverse possibilities, even
if it should prove in some instances that recent ac­
quisitions had been made on unduly sanguine terms.

STOCK E X C H AN G E

SEATS NOT TAXABLE.

That Stock Exchange seats in this State are not
taxable as personal property has been well known for
some time. The matter was finally and definitely de­
termined in the case of the People vs. Feitner (167
N . Y. 1), to which brief reference was made in
Volume 72 of the Ch r o n ic l e , pages 66 and 852. We
now have a decision of the Court of Appeals of Mary­
land to the same effect. This last decision, rendered
early in A pril, goes quite at length into the point at
issue, and as the subject is one of general interest,
reference here to the same seems desirable. “ The
Dally Record” of Baltimore has published the opinion
of the Court in fu ll, and Messrs. Hambleton & 0 j.
of Baltimore, in their weekly circular, have also given
extensive extracts from it.
The case was that of the Mayor and City Council
of Baltimore et. al. vs. Bartlett S. Johnston. John­
ston held a seat in the Baltimore Stock Exchange
whloh the Appeal Tax Court of Baltimore had as­

[V o l .

LXXVI.

sessed for taxation at the sum of $7,000. On applica­
tion to the Baltimore City Court the assessment was
vacated and annulled, and from that order an appeal
was taken by the city to the Court of Appeals of Mary­
land. The view generally taken by the courts is that
a Stock Exchange seat is property, although in a
limited and qualified sense. For instance, the de­
cisions of both the New York Court of Appeals and
the Supreme Court of the United States have author­
itatively determined that a seat in an Exchange is
property and passes to a receiver or to an assignee in
bankruptcy. Moreover, just about the time the
opinion in this Baltimore case was made public the
New York Court of Appeals reaffirmed a previous
ruling that a seat in the New York Stock Exchange
owned by a decedent at the time of his death is sub­
ject to the transfer tax. In other words the great
weight of authority Is to the effect that a seat in an
Exchange is something more than a merely personal
privilege.
I t is equally well established, however, that a mem­
bership in an Exchange is not personal property in
the sense that it can be subjected to taxation per se. In
fact the Court of Appeals of Maryland in the case
under discussion says it has not been referred to a
single decision in which a seat in an Exchange has
been taxed. Justice Boyd, who wrote the opinion,
adverts to the case of People vs. Feitner, already
noticed, in which the New York Court of Appeals
held that a seat in the New York Stock Exchange
was not personal property within the meaning of the
tax laws of the State. He also alludes to San Fran­
cisco vs. Anderson (103 Cal. 69), where It was de­
clared that a seat in the San Francisco Stock E x ­
change Board was not taxable, the Court in that case
saying “ it is a mere right to belong to a certain asso­
ciation with the latter's consent and to enjoy certain
privileges and advantages which flow from membership
of such association.” Furthermore, in Board of Com­
missioners vs. Rocky Mountain News Company (61
Pac. Rep. 94) it was decided that the contract of
membership in an Associated Press was not property
subject to taxation within the intention of the laws
and constitution of Colorado. Iu Hart vs. Smith (64
N. E. Rep. 661), the Supreme Court of Indiana held
that the good-will that attaches to the business of con­
ducting a newspaper belonging to a copartnership is
not in and of itself property within the constitutional
provision that the General Assembly shall provide by
law for a uniform and equal rate of assessment and
taxation. Instances might be multiplied to show,
Justice Boyd says, that as a rule the courts in this
country have held that such a right as is contained in
a Stock Exchange membership is property, but of
such a nature that the terms usually found in tax
laws do not embrace it.
The city had ^relied upon the provision In the
Declaration of Rights that “ every person in the
State or person holding property therein ought to con­
tribute his proportion to public taxes for the support
of the Government, according to his actual worth In
real or personal property,” to sustain its position.
Stress had also been laid upon the language used in
the statute with regard to taxation. This latter,
after enumerating various kinds of property to be as­
sessed, provides that “ all other property of every
kind, nature and description,” shall be valued and
assessed for the purposes of State, county and muni­
cipal taxation to the respective owners. But Justice

Ma t 16, 1903. J

THE

1059

CHRONICLE

Boyd points oat that substantially the same terms
have been used in the Statutes ever since 1852. He
also notes that the Baltimore Stock Exchange has
been in existence since 1844, though in the earlier
years it was known as the “ Baltimore Stock Board.”
Nevertheless, there was never any attempt to assess
seats in the Exchange u n til the assessments for 1901
and 1902 were made.
The Court very properly argues that it cannot be
assumed that during these many years all the tax of­
ficers of the city were in ignorance of the faot that
the Baltimore Stock Exchange and other Exchanges
were in existence or that the seats were not taxed.
Rather it must be assumed that seats were not as
sessed because the law officers and officials of the Tax
Department of the city had not deemed them to be
taxable under existing laws. Then also the members
of the Legislature, as well as the city and State tax
officials, must be presumed to have known that seats
were not being assessed, and yet the Legislature did
not attempt in terms to have them taxed.
Justice Boyd goes further and shows the difficulties
that would lie in the way of attempting to make an
assessment of such memberships. As late as 1897 a
seat on the Baltimore Exchange was sold for no more
than $60, and it is manifest that the value of seats is
not only constantly varying, but must depend, he says,
upon the cumber of vacancies there happen to be and
the demand for admission. The Exchange is not incor­
porated, declares no dividends, and “ was formed for
the purpose of affording to its members, being stock­
brokers, facilities for the transaction of business by
providing them with a convenient exchange or sales­
room rented for that purpose, in which room its
meetings are held.” In case of death the seat is
disposed of by the Committee on Membership, and
after paying the claims of the members, it pays the
balance to the legal representatives of the deceased.
The member does not even hold a certificate of mem­
bership and there is no evidence at all of it beyond
being enrolled as a member. “ I t is thus apparent
that while a membership in the Exchange is in a sense
property, it is qualified and lim ited and lacks one of
the most valuable and usual characteristics of proper
ty—the rig ht of disposing of it as the owner deems
proper, so long as he violates no law.”
Supposing the membership fell under the descrip­
tion “ all other property,” how could it be valued and
assessed for taxation? I t is not tangible personal
property, and hence can hardly be said to be assess­
able, as that is, “ at its fu ll cash value without looking
to a forced sale.” Moreover by Section 194 of the
Maryland law, certificates of Indebtedness issued by
any individual or firm are assessed and valued accord­
ing to the rate of interest stipulated to be paid, and
it is distinctly provided that “ such upon which no
Interest shall be actually paid shall not be valued or
assessed at all.” The same exception Is made in Sec­
tion 201, providing for valuation and assessment of
bonds, certificates of indebtedness or evidence of
debt; where no interest is paid they are not to be
valued for taxation. I t clearly seemed unreasonable
to suppose that the Legislature intended to require a
broker to pay taxes on the amount of money he has
invested in order to acquire proper privileges for the
conduct of his business, from which money he re­
ceives no income whatever, when bonds, certificates
of indebtedness, &c., yielding no income, were ex­
pressly exempted from taxation.

Of course not all features of the Maryland tax laws
are found in the tax laws of other States, but in gen­
eral the reasoning applied in the Maryland case would
appear to apply equally well in the case of other
States. This conclusion is further enforced by Jus­
tice Boyd’s remark, already referred to, that not a
single decision had been brought to the attention of
the Court in which a seat in an Exchange has ever
been taxed.

R A IL R O A D

G R O SS E A R N IN G S

FOR A P R IL .

Railroad gross earnings continue extremely favor­
able.
We furnish below our compilations for the
month of A p ril covering all the roads that make early
preliminary returns, and they show an Increase of
over 8$ m illion dollars ($8,398,980) on about half
the mileage of the country as compared w ith the
gross revenues of the same roads for the correspond­
ing month last year, the improvement being 13 67 per
cent. I t should be borne in mind that gross results
now are not at all indicative of what the net results
are likely to be, owing to the great increase in ex­
penses which are resulting from the increases in
wages recently made and the higher cost of fuel, ma­
terial and supplies.
I t is perhaps not surprising that gross earnings
should keep expanding in a noteworthy way. W ith a
much larger grain movement as a consequence of last
season's excellent harvest, also a larger live stock
movement and a considerable increase also in the
cotton movement in the South, the volume of the
traffic of the roads in the leading staples is running
of course much above that for the same period last
year. Besides this, the prosperity of trade swells the
movement of merchandise and general freight, though
the labor disturbances, which are becoming so promi­
nent in all sections of the country, must, if continued,
soon exert an influence in the opposite direction.
Passenger traffic is of growing volume, influenced by
the fact that all classes of the population are making
money. In addition, railroad rates rule in many in ­
stances above the figures of a year ago.
Decidedly improved gross revenues are the con­
comitant of such favoring conditions, and actual re­
sults are hence simply a fulfilm ent of anticipations.
I t should not be overlooked, however, that additional
significance is given to the improvement by the fact
that this year's gain follows successive gains of large
amount in A p ril of previous years for a considerable
time back. Even in 1902 our tables showed (on the
roads then included in our early preliminary
statement) $5,749,505 gain, notwithstanding the
serious curtailment of the volume of the agricultural
tonnage succeeding the crop failure of 1901. In the
following we show the A p ril totals for each year back
to 1893.
M ile a g e .
1

18 3
1894
1893
1386
1897
1896
io99
1900
1901
1908
1903

T ear
G iv en .

A p ril.
M iles.
(ItO r o a d s ). i 00,090
(120 r o a d s ).
93,7 52
93.314
(120 r o a d s ).
(128 r o a d s ) .
91,371
(127 r o a d s ,
94,489
(126 r o a d s ).
96,616
(119 r o a d s i
98,643
(111 ro a d s )
97,191
97 r o a d s ) .
98,374
( 8 3 r o a d s ).
96,147
(80 r o a d s ). 101.421

F ea r
P r e c e d in g

Milts.
68.309
91.154
95.209
90.926
93.813
95,472
92.452
96,169
93,923
98,696
99.460

G ross lea rn in g s.
1 ea r
G iv e n .
*

88,823 977
93,816,41'
35,404,690
S5,636.25<
35,870,305
42,467,047
42,464,311
£0,086.127
60,046,333
67,842,685
09.818.810

V ear
P r e c e d in g .

In crea se
or
D e crea se.
»

t

37.669.801
89,385,510
88,853,046
34.471.228
85,887.861
86.670,182
40.803,678
44,662,^98
45.643,860
63,093,090
61,413.330

In e.
D ec.
In c.
In c.
Dec.
In c.
In c.
In c.
rn e .
In c.
In c.

1,284,116
6,040,109
1.551,051
1,216.025
6,648
5,S97,516
1.061,733
5,522,229
4.402,473
6,749,505
8,898,980

THE

1060
Mileage.

Jan. 1 to Apr. 80
1893 (138 roads).
1894 (117roads).
1895 (119roads).
1896 (125 roads).
1897 .'127 roads).
1898 (125 roada).
1899 (119roads).
1900 (110 roads)
1901 (97 roads).
1902 (88 roads).
1908 (89 roads)
N o t e .— We

Year
Ghiven.

Year
Preceding.

MUes.

Miles.

89,860
9 3 ,e 0 2

95,120
90,539
94,489
90,616
93,043
96,918
90,874
95,147
101,421

88,079
91,064
95,015
90,095
93,818
96,472
92,452
94,916
98,923
93,696
99,450

Cross Earnings.
Year
Given.

Year
Preceding.

t

Increase
or
Decrease.
?

1

166,005,387
130,210,527
138,633,489
144,350,576
143,231,183
109,183,383
168,598,98?
204,218,414
205,802,063
225,617,790
269,474.44C

CHRONICLE,

152,122,862 Inc. 8,882,475
167,728,885 Dec.21,51S,808
137,524,452 Inc. 1,109,037
133,370,801 Inc. 10,979,714
146,410,077 Dec. 8,178,894
145,709,416 Inc.23,473,987
161,727,613 In c. 0,869,375
170,856,801 Inc .27,803,113
188,890,916 Inc. 10,971,147
209 887,916 me. 16,249,874
237,871,314 Xnc.31,603,128

do not include the Mexloan roada in any of the years.

The increase in the grain movement at the W est­
ern primary markets extended to all the different
cereals— wheat, corn, oats, barley and rye— but the
gain was not equally distributed as between the differ­
ent points, two or three o f them actually reporting
smaller receipts this year than last, f o r the five
weeks ending May 2 the receipts o f wheat were 11,223,110 bushels this year, as against 9,110,573 in the
same five weeks o f last year; of corn, 10,257,166
bushels, against 7,696,656 bushels; of oats, 13,424,411
bushels, against 10,767,144 bushels; of barley, 2,512,281 bushels, against 1,417,197 bushels, and of rye,
853,817 bushels, as against 236,612 bushels. Taking
the five cereals together the aggregate for the five
weeks of 1903 stands at 38,270,785 bushels, against
only 29,228,182 bushels in the same five weeks of
1902. This is a liberal increase, but it should be
noted that it does not amount to a full recovery of
last year’ s loss, the receipts for the same five weeks of
1901 having footed up 42,394,937 bushels. Here is
our usual statement showing the grain movement in
detail the last two years.
BECEIPTB O F F LO U R AN D G RAIN F O B F IV E W E E K S EN DIN G M A T 2
AND SINCE JA N U A R Y 1 .

Flour,
(bbls.)

W heat,
(bush.)

Com ,
(bush.)

Oats,
(bush.)

Barley,
(bush.)

Rye.

(busk.)

Chicago—
704,376 1,331,160
5 wks. Apr., 1903
689.033
8.000.287 7,274,512 1,227,357
750,423 1.654.075 2,532,4»0 5,230,SS6
5 wks. Apr., 1902
91.500
760,650
Since Jan. 1,1903 2,401,770 5.802.076 26,448,1-25 31,590.180 0,602,080 1,368,295
Since Jan.l, 1902 2,290,904 6,839.072 10,820,224 17,515,778 4,322,845
481,175
M ilwaukee—
878,470
333.40(
5 wks. Apr., 1903
78.400
743,860
572,000
65,000
591,000
56,000
282.375
5 wks. Apr., 1902
417,050
426,400
311,100
921,310 2,532,330
Since Jan.l, 1908
341.600
1,316,250 2,820,000 5,138,650
790,896 8,093,400
Since Jan.1,1902
375,200
1,499,850 2,158,000 3,008,150
St. L ou is—
6 wks. Apr., 1903
1,975,905 1,887,830
195,350 1,436,130
70,729
102,000
184,71C
5 wks. Apr., 1902
39,728
724,924
00,000
1,192,125 1,637,030
635,498
720,405 5,423,814 11,475,305 8,014,910 1,255/ 00
since Jan.l, 1903
708,070 2,430,544
Since Jan.l, 1902
137,528
8,057,500 6,004,840
599,000
Toledo—
12,700
6 wks. Apr., 1908
275.000
740,000
3,800
207,550
174,500
5 wks. Apr., 1902
827,100
7,200
355,800
3.000
1,260,000 4.819.000 1,044,780
Since Jan.l, 1908
50.500
8.000
780,432 2.230,387 1,220,241
" 8,200
Since Jan.l, 1902
50,040
8,070
D etroit—
5 wks. Apr., 190?
20,600
133,000
340,312
800,452
2S.50C
6 wks. Apr., 1902
08,421
110,733
245.505
82,500
Since Jan.l, 1903
679,351
1,314,029 1,115,(22
Since Jan.l, 1902
91,160
359,874
608,023 1,008,749
Cleveland—
82,480
5 wks.'Apr., 190?
233,757
021,022
791,087
5 wks. Apr., 1902
03,692
221,441
318,983
600,534
459,474
Since Jan.l, 1908
620,376 3,514,081 2,066,795
8,673
Since Jan.l, 1902
220,72r
059,690 1,999,904 1,975,237
P eoria —
5 wks. Apr., 1908
68,000 1,590,000
54,705
83.600
827,900
206,100
5 wks. Apr., 1902
106,000 1,239,300 1,887,300
83,950
14,700
98,400
Since Jan.l, 1903
241 400 7,182.350 3,470,700
865,416
130,700
970,500
Since J a n / ~
e06,550 0,973.949 8,611,151
420,605
66.600
580,200
D alu th 412,900
5 wks. Apr., 1903
521,454
144,500
24,104
28,838
654,100
6 wks. Apr., 1902
721,380
16,077
4,926
19,507
555,700 4,330,705
Since Jan.l, 1903
” ” 974 1,558,930
87,479
516,425
821,000 6,979,109
8ince Jan.l. 1902
525
147,685
23,482
139,258
M inneapolis—
4,470.680
5 wks. Apr., 1903
190,050
700.780
205,070
46,520
ro non
4,189.450
235,870
5 wks. Apr., 1902
399,810
22,500
25,627,800 1,821,150 6,201,330 1 ,9 54,970
Since Jan.l, 1903
383,720
23,764,200 1,452,695 1,714,310
SinoeJan.l, 1902
162,188
003,720
K ansas City—
2.374,400 1,733.500
5 wks. Apr,, 1900
057,800
5 wks. Apr., 1902
758,000 1.371,200
590,400
Since Jan.l, 1903
6,431,640 8,030,940 3.1U.80O
Since Jan.l, 1902
6,773,000 2,220,430
2,416,0O(
Total o f all—
5 wks. Apr., 190

1,803,877 11.238,110 10,257,166 18,434,411
1,947,350 9,110,578 7,096,050 10,767,144
5,507,574 52,347,882 06,347.904 00,692,833
6,347,752 47,905,887 38,382.857 88,237,421

2,512,281
853,817
1,417,19230,612
16,721,298 2.0J8.792
0,275,843 1,290,211

perhaps a better idea o f how much smaller this year’ s
receipts have been than in either 1901 or 1900, n o t­
withstanding the recovery from 1902, as in the case
of this point it is possible to get the figures for the

[VOL. LXXYI.

even month. We find that Chicago’s receipts of
wheat, corn, oats, barley and rye were 11,246,240
bushels in A pril 1903, which compares with 8,491,076
bushels in April 1902, but with 15,022,588 and 15,561,118 bushels, respectively, in April 1901 and April
1900. The statement is as follows:
RECEIPTS AT CH ICAGO DURING A P R IL AND SINCE JA N U A R Y 1 .

April.
1903.
Wheat bush.
Com... bush.
Oats...bush.
Rye ...hush.
Barley.bush.

1,200,160
2,450,405
6,989.412
615,160
1,090,183

Total grain 11,246,240
016,619
Flour ..bbls.
844
Pork... .bbls.
Cutm’ts.lbs. 12,501,830
Lard------lbs.
2,358,504
Lire hogsNo
656,104

1902.
1,305,675
2,012,565
4,351,380
87,000
074,460

Since January 1.
1901.

1908.

1902.

1901.

3,008,026 4,013,401 0,538,097 9,808,524
3,992,352 26,105,877 10,183,802 31,181,789
7,280,882 30,101,036 10,386,928 82,782,208
191,800 1,202,095
442,050
690,445
634,028 0,569,780 4,120,046 4,318,873

8,401,070 15,022,588 07,982,889 87,610,482 78,841,834
057,102
845,190 2,860,288 3,111,626 8,082,035
728
4,323
1,087
240
1,760
7,370,519 10,804,682 54,589,722 31,017,216 47,811,377
2,274,305 4,208,938 8,997,846 16,702,656 20,193,008
590,299
013,718 2,744,794 3.272,276 2,967,092

A t the end of the foregoing statement comparisons
are also furnished of some of the items of the pro­
visions movement and of the movement of live hogs.
It appears that Chicago received only 556,104 head
of hogs in A pril 1903 against 586,299 head, 613,713
head and 634,702 head, respectively, in A pril o f the
three years preceding. A t Omaha and some other
points hog receipts were also smaller than last year,
but on the other hand at Kansas City and St, Louis
they were larger. Taking the five markets— Kansas
City, Chicago, Omaha, St. Louis and St. Joseph— and
combining them, we find “that the hog receipts were
1,141,232 head against 1,124,703 head; the receipts of
sheep 724,717 against 511,873 head, and of cattle
635,170 against 500,366 head. In the aggregate,
therefore, the live-stock movement ran much ahead
of last year.
W ith reference to the cotton movement in the
South, the speculation and high price attained by the
staple no doubt had some influence in stimulating
shipments. A t all events at the Southern outports
the receipts in April 1903 were 278,339 bales as
against 163,093 bales in 1902 and 268,233 bales in
1901. The shipments overland, it may be added, were
90,103 bales in 1903 against 81,496 bales in 1902 and
71,568 bales in 1901.
BECEIPTB O F COTTON A T SO U TH ER N P O R TS IN A P R IL , AND FROM
JAN U ARY 1 TO A P R IL 3 0 , IN 1 9 0 3 , 1 9 0 2 AND 1 9 0 1 .

April.

P o rts.
1903.
aalTeston.. .......... bales.
Sabine Pass &c.............
New Orleans......................
Mobile.................................
Pensacola, &o...... ...........
Barannah...........................
Brunswick, &c...... ........
Charleston.........................
Port Royal, &c...............
Wilmington.......................
Washington, & o ...........
Norfolk...............................
Newport News, &o..........

77,463
10,190
107,404
6,604
3,679
40,888
6,655
1,008

Total.............................

1902.
79,130
7,340
1,157
1,322
16,434
32,352

no

2,067

3.910
4
5,835

21.1C8
1,063

14,937
1,532

278.831

163.093

Since January 1.
1901.
80,052
8,105
114,151
3,586
17,265
63,895
13,291
3,770
80
4,072

1003.

508,523
85,454
732,283
62,062
53,083
388,149
43,912
38,399
136
57,287
83
24,108 335.350
329: 11,559

1902.

1901.

601,743 671/574
88.402
20.085
705,479 712,270
30,086
11,627
02,832
79,204
265,821 310,047
86,051
52,580
61,188
88,121
230
3,004
59,711
49,050
00
58
139,410 108,719
3,659
23,437

209,233 2.087,489 2.054,551 1959.757

W ith reference to the separate roads, the gains are
of large amount and extend nearly all through the
list. The New Y ork Central reports a total better by
$782,072 than in the same month of last year and this
latter in turn had shown $595,048 increase over the
preceding year. Similarly, the Missouri Pacific, in a
totally different section of the country, reports $659,722 gain follow ing $276,913 gain in 1902 and $497,104
gain in 1901. The Canadian Pacific has added $499,151 to its total of last year, the Illinois Central $400,879, the Louisville & Nashville $400,280, and so on,
this year’ s improvement as a rule com ing on top of
successive increases in nearly all the years immedi-

THE

May 16, 1903.]
ately preceding.

In the follow ing we

together all changes, whether gains

have

CHRONICLE

brought

1061

E A R N IN G S O F M I D D L E A N D M I D D L E

or losses, on the

A p r i l.

separate roads or systems for amounts exceeding $30,000

.

It will be noticed that the

M in n e a p o lis & St.

A n n A r b o r .... ...
B u ff.R o o h . A P it ts

1 90 8 .

1902.

t
1 7 6 ,3 3 2

162,474

C h l o .I n d . A L o u i s ? .

6 0 3 ,8 1 7
4 3 8 ,37 0

E vans v. A T e rre H
H o o k in g V a lle y .

that

even counting decreases of less than $30 ,0 0 0 , there are

Louis Is the only road represented in the
creases— that is, it is the only road
going above $ 3 0 ,0 0 0 in am ount.
altogether only 7 roads

list

of de­

having a decrease

We

may add

which report

sm aller

totals

than in A p ril of last year out of the 80 roads contrib­
uting returns.

& St.

T h e falling off on

the Minneapolis

Louis reaches $ 55,595, and is explained as being

due to a loss of corn traffic
condition of a large

resulting from

part of corn

tributary to the road, this loss in

corn

In crea se*.
New York Central__
Baltimore & Ohio......
Missouri Paoltio Bys. )
(2 roads).............. \
Canadian Paol flo.......
Illinois Central..........
Louisville & Nashville
St, L. San Fran... )
Ohio. <fc East. 111... {
Southern Railway__
Gr. TrunkBy8.1(3 rMs)
Norfolk & Western__
Northern Paoltio........
Gt. North. 8ys.(2 Pda).
Wabash......................
Clev.Oln.Ohlo.&St. L.
Onion Paoltio, proper.
Buff. Rooh. & Pitts....
Chesapeake & Ohio...
Mobile & Ohio............
Mo.Kane. & Texas...
Central of Georgia__
Nash. Chatt. A 8t. L..
Pere Marquette.........
Cln. N.O.&Tex.Pao..

E A R N IN G ® I N

1 89 9 .

(
140,887

129,004

1 1 3 ,0 1 9
3 2 5 ,0 8 7
2 7 9 ,2 0 9

1

1

156 ,3 5 f

1898.

1

1

408,697

469 ,36 8

461,191

3 4 9 ,9 8 9

8 6 0 ,1 3 9

349 ,94 9

2 9 9 .0 1 4

139,033

115,101

114 ,38

109,126

0 7 ,1 8 1

4 88 ,28 7

4 60 ,07 2

3 23 ,97 8

8 82,304

229 ,39 1

U l in o is C e n t r a l . . . .

3 ,7 0 8,11 6

3 ,3 0 6 ,2 3 6

2 ,9 5 3 ,7 5 7

2 ,4 1 1 ,2 0 6

2 .1 1 3,57 7

191 ,90 8
2 ,1 1 9 ,8 9 0

P e r e M a r q u e t t e ...
S t. L . V a n . A T . H .

•921,066

• 822,054

798,031

871,641

6 20 ,26 2

2 0 7 ,9 1 8

176,361

186,809

160,702

185,463

5 3 2 ,2 1 9
1 3 9 ,0 4 9

P o l. A O h io C e n t .

2 9 1 ,4 7 2

206 ,61 8

1 52 ,48 9

1 4 0 ,16 1

9 6 ,3 6 3

220 ,90 7
81,791

193,017

T o l. P e o . A W e st.

81,3 99

73,251

08,186

7 1 ,5 0 6

2 3 2 ,3 7 6

206,141

217,641

129,341

1 C 4 /0 I

1 0 5 ,0 9 9

| 3 49 ,70 9

810 ,87 8

217 ,86 7

2 1 0 ,8 8 6

186,722

7 ,6 4 3 ,8 3 2

6 ,6 4 1 ,0 2 3

0 ,0 3 1,45 1

5 ,3 0 3 ,2 8 5

1 ,515,026

T o l.

8 t,

L. A W est.

W h e e l. A L . E r ie .
C le v . C a n . A B o.
T o t a l ......................

< 1 85 ,01 5
l

6 7 ,0 4 7

4 ,3 6 5 ,8 6 6

* I n c l u d o s L a k e E r i o A D e t r o i t R i v e r R y . l u 1 90 3 a n d 1 90 2 .
E A R N IN G S O F T R U N K

April.

taken as return freight when corn is shipped.
GROSS

120 0 .

885,281
132,330

tonnage

being attended by a loss of lum ber tonnage, which is

P R IN C IP A L C H A N G E S IN

1901.

ROADS.

the soft

in the territory

the

W ESTERN

B a l. A

A P R IL .

O ...

B.A 0 . 8 . W

Increase*.

1 90 8 .

1902.

t

t

)
V5 ,5 0 0 ,1 6 2

L IN E S .

1901,

t
(

4 ,7 1 8 ,8 2 8

8 ,8 7 9,74 0

(

1900.

1809.

t

f
1 2 ,4 2 4 ,8 8 1

3 ,5 8 1 ,7 6 2

1

8 1 5 ,7 4 S

1 89 8 .

5 4 1 ,1 8 1

1
2 ,4 6 4 ,7 8 9
0 0 0 ,2 7 1

8 5 2 ,9 7 3

2 8 2 ,3 7 6
2 5 9 ,5 7 5
#782,072 St. Louis Southwest...
#77,092 CP.C. A.CW.A. SS yt Ls
1 ,857,354
1,4 0 3,59 7
1 ,1 0 4 ,7 6 5
1 ,0 3 8 ,0 2 5
1 ,3 5 6,00 8
1 ,1 6 4 ,4 9 3
751,323 Toledo & Ohio Cent...
70,565
1 9 8 ,19 9
1 91,401
2 5 1 ,2 0 8
1 98 ,13 3
1 5 7 ,8 4 7
1 5 1 ,82 2
„ „ „ Chlo. Great Western..
68,419 P e o . A E a s t
r 1,9 0 1,86 7
1 ,6 4 7 ,6 7 0
b5B’7
Mlnn.St.P.&S.Ste.M.
64,161 G . T . o f C a n . >
1 ,7 8 7 ,3 7 0
1 ,5 8 5 ,5 8 5
<99,151 Ala. N. O. & T. P. 1
tn 7*70 G r . T . W e s t > 2 ,7 8 7 ,0 5 4 2 ,4 8 0 ,7 5 0 ] 3 86,895
8 7 7 ,1 6 2
8 0 1 .6 1 9
2 9 8 ,2 2 5
400,879
System (3 roads).. >
t
7 0 ,4 0 5
7 6 ,9 1 9
D . G .H . A M )
7 1 ,6 8 9
7 2 ,0 8 9
400,280 Kan. City Southern...
59,483 N . V .C .A H + 0 ,5 6 5 ,8 6 5 5 ,7 8 8 ,7 9 3 5 ,1 6 8 ,7 4 6 4 ,2 6 3 ,8 0 1 3 ,7 5 0 ,2 4 5 8 ,9 2 1 .5 1 8
56,807
0*70 oao Peoria & Eastern.......
a/B.woA Seaboard Air Line__
56,508 W a b a s h . . . . 1 ,7 0 0,95 9 1,481,551 1 ,8 5 4 ,5 3 5 1 ,3 1 0 ,8 8 5 1 ,1 3 0 ,0 2 8 1 ,1 1 0 ,0 4 1
53,086
374,790 Chlo. Ind. A Loulsv...
1 3,2 4 3 ,6 5 9 1 1 ,3 7 1 ,4 2 0 1 1 ,8 1 0 ,0 1 7
T o t a l . . . 1 8 ,4 9 8 ,8 0 8 1 6 .0 4 9 ,9 2 7 1 4 ,0 8 9 ,4 6 9
350,298 Lake Erie A Western..
42,428
39.336
319.735 Wheeling A L. Erie__
306,880 Southern Indiana......
39,039
t B o s t o n A A l b a n y I n c l u d e d In 1 9 0 3 , 1 9 0 2 a n d 1 9 0 1 ; t h e B e e c h C r e e k R R .
281,049 Hooking Valley.........
38,215 a n d t b e W a l l k l l l V a l l e y R R . f o r a l l t h e y e a r s , a n d t h e F a l l B r o o k s y s t e m
36,063
279,408 Ga. Southern & F la...
35,125 a f t e r 1 8 9 9 .
230,028 Colorado A Southern.
It F i g u r e s f o r 1 9 0 3 n o t r e p o r t e d ; t a k e n s a m e a s p r e v i o u s y e a r .
207,152 Wisconsin Central__
85,065
195,220 Alabama Gt. Southern
34,750
E A R N IN G S O F S O U T H W E S T E R N G R O U P .
31,549
187,738 St. Louis Van. AT. H.
147.437
Total (representing
144,707
April.
1903.
1901.
1902.
1900.
1899.
1898.
48 roads).............. $8,235,243
134,235
119,993
$
t
$
$
I
1
Decreases.
99,001
Den.AR.Gr. >
i
883,038
780,820
705,023
047,787
1,384,801
1,305,500
$55,595
87,722 Minn. A St. Louis......
R. Gr. W ..>
( 480,400
378.928
284,425
274,466

T o com plete our analysis, we furnish the follow ing
tables showing the earnings for the last six years of
most of the roads which contribute

returns.

T he

roads are arranged in groups, and the reader will find
it instructive to observe

how

m uch

larger are the

totals for 1903 than in such earlier years as

1899 and

1898, in the case of all the groups and practically all

Int.A Gt. No..
401.312
Mo. K. A Tex
1,411,425
Mo.P.AIr.Mt.
8,052,085
3t. L. A 8. Fr.
K.C.F.S.AM. 1
K . C . M . A B . \ 2,571,016
F.W.AR. Gr. I
C h ic .A E . 111. J
8t.L. Bouthw.
013,830
Texas A Pac.
916,951
Total.........

10,901,97f

630,744
£00,884

433,235
574,739
908,100

201,041
328,780
880,504
810,163
2,218,296 2,128,234
f 595,017
582,776
488,097
383,780
j
147,867
113,657
L
74.805
59,430
837,345
368,668
424,160
427,809
591,891
574,343

9,588,857

0,042,728

7,112,212 0,792,015

388,042
1,266,716
2,992,312

887,775
1,159,702
2,716,400

f
1
2,192,066 ] 1,545,273
1
l

294,433
878,495
2,170,221
533,810
895,008
110.883
64,801
293,895
300,101
573,298
6,690,802

the roads.
GROSS EARNINGS AND MILEAGE IN APRIL.

E A R N IN G S O F S O U T H E R N G R O U P .

A p ril.

1903.

t
Alabama Gt. B o ..
0«nt. of Georgia..
Chesap. A Ohio...
OlnJJ.O.ATex.P.
Loulsv. A Nashv..
Mobile A Ohio....
Nash.Chat.A St.L.
Norfolk A West..
Southern R y . . . >
St.Louis Dlv. >
Tazoo A Mlss.Val.
Total...........

2 3 9 ,96 4

1902.

1
205.2C 4

1901.

1900.

t

$
140,089

175 ,53 6

1899.

1893.

I

t
137,355

0 03 ,10 6

523 ,87 3

448 ,70 7

403,287

3 87 ,92 2

3 1 1 ,1 8 0

1 ,4 0 8,85 7

1 ,1 7 1,19 8

1 ,1 0 0 ,0 3 0

907,055

9 1 2 ,9 8 3

6 07,603

480,081

419,449

3 9 7 ,86 3

3 0 4 ,47 0

3 2 0 ,5 0 1

6 2 ,9 2 0 ,8 3 0 6 2 .5 2 0 ,5 6 0 6 2 ,2 4 3 ,6 2 0
t7 0 5 ,0 5 9
+ 443,510
t5 5 7 ,0 2 if

2 ,1 4 8,37 1

1 ,918,001

1 ,7 7 3 ,9 0 7

+423,007

8 0 0 ,77 8

3 1 8 ,8 7 1

• 784,105

• 604,112

• 595,636

• 560,836

4 6 3 ,52 2

4 2 8 ,8 0 5

1 ,8 7 0 ,2 7 3

1 ,5 5 0 ,5 3 8

1,2 8 0.72 0

1 ,1 2 8,01 4

1 ,022,411

0 5 0 ,3 2 0

3 ,5 1 7,85 4

3 ,1 4 3 ,0 0 4

< 2 ,3 9 2 ,0 7 4

2 ,1 1 4,40 4

2,855,117

1 ,7 4 0 ,7 2 0

5 28 ,03 7

6 3 4 ,62 0

161,341

136 ,90 6

1 1 8 ,7 2 9

422,931

3 3 0 ,8 5 4

3 2 5 ,90 5

3 6 3 ,3 8 8

1 3,3 0 4 ,2 1 8 1 1,5 9 3 ,4 2 7 1 0 ,0 5 6 ,3 8 8

9 ,1 9 7 ,3 6 5

8.2C 9.445

7 ,8 0 4 ,3 1 0

* I n c lu d e s P a d u c a h A M e m p h is D iv is io n In t h e s e y e a r s .
♦ I n c l u d e s M o n t g o m e r y D i v i s i o n f o r 1 90 3 , 1 9 0 2 ,1 9 0 1 a n d 1900.

6

F r e i g h t o n m a t e r i a l c a r r i e d f o r c o m p a n y ’ s o w n u s e Is n o l o n g e r c r e d i t e d

earnings, t h e I t e m h a v i n g b e e n e l i m i n a t e d f r o m b o t h e a r n i n g s
The f i g u r e s f o r 1 9 0 3 ,1 9 0 2 a n d 1 901 a r e g i v e n o n t h i s b a s i s .

to

and expen ses.

0 F ig u r e s f o r f o u r t h w e e k n o t y e t r e p o r t e d ; t a k e n s a m e a s la s t y e a r .
E A R N IN G S O F N O R T H W E S T E R N A N D N O R T H P A C I F I C G R O U P .

A pril.
C a n a d ia n P a c ific .

1903.
»
3 ,7 0 3,00 0

1902.

t
3 ,2 0 3,84 0

1 90 1 .

1900.

1899.

<
2 ,8 8 1 ,3 1 2

*
2,4 9 1,10 4

S

t

2 .1 0 0 ,8 1 2

1 ,9 5 8 ,4 6 2

5 0 1 ,0 3 5

405,616

4 0 0 ,8 6 3

200

518

1 7 0 ,7 0 )

1 4 3 ,02 1

2 ,1 5 3 ,0 5 4

1 ,823.294
157,109

1 ,7 2 1 ,4 3 8
1 4 0 ,4 3 2

O h lo .G t . W e s t . . .

017,961

5 49,532

509 ,81 9

D u l u t h S .S .A A t l .

2 1 5 ,1 9 0

G reat N o rth . S ys.

3 ,091,010
1 8 1 ,4 9 4

241,797
2 ,8 0 9,90 1

2 0 3 .5 0 7
2 ,2 7 9.00 0
162.207

218,616

177,004
874,113

5 33 ,64 8

409 ,48 7

I o w a C e n t r a l ___

Minn.A 3 t . L o u i s .
M.8t. P . A 8 . 8 .M .
N o r t h . P a c i f l c .6 >
B t.P a u lA D u l. >
Wisconsin C e n t ’ l.
T o t a l .................

8 ,5 5 3 ,7 8 7

267,986
406,081

3 .2 4 6 ,8 4 7 2 ,7 3 8 ,7 1 6 (

107,897
213 ,04 4
1 40 ,60 4
2,4 0 9,27 1

611,435

419,501

1 2 8 ,0 5 t
445 ,77 7

1 2 ,7 2 1 ,0 0 8 1 1,5 4 4 ,7 1 5

9 ,7 1 7,41 0

9 .1 5 8,44 3

5 4 6 .5 0 0

b l n o l u d e s p r o p r i e t a r y l i n e s In a l l t h e y e a r s .
It F i g u r e s f o r 1 9 0 3 n o t r e p o r t e d ; t a k e n s a m e a s l a s t y e a r .

as
239,954

1902.
.
$
205,204

198,520
102,504
110,962
175,382
59,450
5,500,152
5,803
603,817
3,763,000
663,109
10,752
1,596,595
617,951
438,370
140,998
567,803
1,633,625
251,209
468,191
1,334,800
106,231
215,190
27,999
139,033
129,270

1903.

1 2 4 ,7 9 0

1 ,5 9 0 ,6 9 6

f

Gross E a rn in gs.
Name o f R o a d .

1898.

188,947

1 5 3 ,7 7 9

348,916
1 ,958,886

8 3 8 ,0 0 1
1 ,9 0 9 ,7 2 7

110,570

1 1 8 ,4 9 8

4 3 4 , 8 C5

3 7 8 ,3 4 8

7 ,8 5 3,13 6

7 ,3 2 2 ,8 2 9

Alabama Gt.B outh’ n.
A la .N .O .& T ex.P ao.—
N. Orl. & No. E a s t ..
Ala. <fe V lck sb .........
Vioksb. B hr.& P ao,.
Ann A r o o r ..................
A tlanta K n ox v .& N o.
B altim ore & O h io,. >
Balt. & O. So’w n. (
B eliefon te C en tra l..
Buff. R ooh. <fc Plttsb..
Canadian P a o iflo ----C entral o f G e o rg ia ..
Chattan. S o u th e rn ...
Chesapeake & O h io ..
Ohio. G reat W estern.
Chlo. In d . & L o u lsv ..
Chlo. T erm . T r. R R ..
Oln. N. O. <fe T ex. Pao.
Olev. Cln.Ch.A 8t. L . .
P eoria & E astern ..
C olorado & Southern.
Denv. & R io G ra n .. )
R io G rande W est. 5
D etroit Southern ___
Dul. Bo. Shore & A t l..
Evansv. & In dlanap.
Evanev. & T. H aute.
Ga. South. & F lorida
Gr. Trunk o f C a n .. . )
Gr. Trunk W e st.. >
D e t.G r.H a v .& M . )
Gt. No.—8 .P .M .& M .)
E astern o f M inn. $
M ontana C e n tra l..
Hooking V a lle y .........
Illinois C entral......... .
Illinois S ou th ern .......
ln te m a t’ l& Gt. N o ..
Iow a C entral..............
Kanawha <fe M loh . . .
Kansas C ity South’n.
Lake E rie W estern.
Lornsv. & N a sh v ille..
Macon & B irm in g ’m .
M anlatique..................

M ileage.

Increase or
1903.
D ecrease.

1902.

$
+ 3 4 ,7 5 0

809

809

176,201
77,828
98,187
152,474
51,628
4,748,829
5,719
408,597
3,203,849
528,873
9,233
1,408,857
549,535
385,284
138,318
480,081
1,403,597
194,401
433,066
1,305,500
90,414
241,797
20,983
122,330
93,207

+ 2 2 ,3 1 9
1-24,676
+ 12,775
+ 22,858
+ 7 ,8 3 2
+ 7 5 1 ,3 2 3
+84
+ 195,220
+499,151
+ 134,235
+ 1,519
+ 187,738
+ 68,419
+ 53,086
+ 2,080
+ 8 7 ,7 2 2
+ 2 3 0 ,0 2 8
+ 56,807
+ 35,125
+ 2 9 ,3 0 0
+ 15,817
—26,007
+ 1,018
+ 1 6 ,7 0 3
+ 36,063

195
14S
189
292
250
3,884
27
472
7,590
1,845
105
1,636
929
546
108
336
1,891
352
1,121
2,433
381
574
146
162
395

195
143
139
292
250
8,8 8 4
27
472
7,590
1,845
105
1,607
929
546
108
336
1,891
352
1,145
2,390
381
574
146
162
285

2,787,054

2,436,756

+ 350,298

4,085 4,082

2,910,014
180,996
488,287
3,706,115
10,910
401,312
181,494
116.647
552,021
4X0,298
2,920,830
10,625
3,002

2,639,337
170,624
450,072
3,305,236
9,915
388042
177,604
91,841
492,538
367,870
2,520,550
9.041
8,034

+ 2 7 0 ,6 7 7
+ 10,372
+ 3 8 ,2 1 5
+ 400,879
+ 9951
+ 13,270
+ 3 ,8 3 0
+ 24,806
+ 59,483
+ 42,428
+ 400,280
+ 1,584
—5.032

5,253
260
347
4,300
96
1,007
558
177
839
887
3.441
97
64

4,9 8 5
260
347
4,234
S8
1,006
558
177
839
837
3,328
97
64

Milcaut

g r o s s R a rn in g s.
Maine o f R oad.

M obile & O h io...........
Nash. Chat. A St. L .
N .Y .C en .A H u d .K iv .
N orfolk A W estern ..
N orthern PaoifloU —
P ere M arquette!
R u tlan d R R .............
St. L ouis A S. Fran. )
Chic. & E . Illin ois 5
Bt. L ouis Southwes’n
St. L. Y an. & T. H . ..

T. H aute & Indianap.
T. H aute & P e o ria ...
T exas C entral........... .
T exas A P a o iiio ........
T ex. Sab.V al. A N.W
T ol. & Ohio C entral.
T oron. H am . A I
U nion Paoiiio p i * r
W abash............. ............
W heel. & L ak e E rie..
W isconsin C e n tra l..,

In crease o>
D ecrease. 1903.

1902.

1903
M ineral R an ge..
Minn. A St. L o u is___
Minn.8t.P.<fe S.Ste.M .
M o.R a n . A T e x ....
Mo. P a c. A Iro n M
C entral B ran ch .

CHRONICLE

THE

106^

*
45,960
218.548
533,646
1,411,425
3,538,736
113,298
32,851
705,059
784,105
16,177
6.565,865
1.870,273
3,553,727
921,055
37,549
185,890
2,571,618
613,836
207,918
94,437
1,100,656
90,249
3,517,854
153,893
4 6 ,3 3 46,221
916,950
9,600
291,472
95,353
232,376
y 36,639
*2,286.703
1,760,95°
349,709
546,500
528,637

$
61,852
274,143
4 6 9 ,4 »7
1,266,7181
2,912,359
79,951
16,457
557,622
664,112
13,701
5,783,793
1,550,538
3,246,847
822,054
44,532
173,384
2,192,656
536,744
176,361
81,729
1,044,148
51,210
3,143,064
131,776
41,902
35,630
906,884
10,700
220,907
81,791
206,141
2/29,180
*2,079,551
1,481,551
310,373
511,435
534,526

$
-1 5 ,8 9 2
—55,59.‘
+ 64,16)
+ 144,707
+ 6 2 6 ,3 7 '
+ 33,345
+ 16,397
+ 147,437
+ 119,993
+ 2,476
+ 7 8 2 ,0 7 2
+ 319,735
+ 306,830
+ 99,001
—6,933
+ 12,506
+ 3 7 8 ,9 6 /
+ 7 7 ,0 9 2
+ 3 1 ,5 4 9
+ 12,706
+ 56,506
+ 39,039
+ 3 7 4 ,7 9 0
+ 22,122
+ 4 ,4 3 6
+ 10,591
+ 10,066
—1,100
+ 7 0 ,5 0 3
+ 13,562
+ 2 6 .2 3 5
+ 7 ,4 5 3
+ 207,152
+ 279,406
+ 3 9 ,3 3 t
+ 3 5 ,0 6 5
-5 ,8 8 0

N am e o f R oad.

1902.

127
642
1,452
2,632
5,305j
388J
96
874
1,195
144
3,320
1,710
5,394
2,025
180
416
4,573
1,293
158
165
2,607
154
7,114
80
174
227
1,848
58
436
246
451
88
3,033
2,484
469
977
1,162

127
64 2
1,394
2,526
5,182
386
50
874
1,195
130
3,320
1.675
5.302
2,010
186
416
4,050
1,293
158
165
2 ,6 0 i
154
6,920
80
174
225
1,710
58
436
246
451
88
3,033
2.48 4
469
977
1,099

[YOL. LXXV1.
1903.

1902

Increase.

%
$
573,*'63
viobile & O h io..................
2.211.405
2,784,968
2,667,199
569,739
Nashv. Chat. A St. L .. .
3,236,938
10,476
V ev.-C al.-O regon............
47,651
37,175
N. Y . Cent. A H nd. Riv.*. 25.262,747 21,167,833 4,091,914
N orfolk A W estern .........
7,164,760
5.836.802 1,327,958
Northern PaoiflcD........... 13,380,368 12,314,503 1,06 5,86 5
276,250
3,227,512
fe r e M a rq u ette!.............
3,503,762
172,135
lo G rande S o u th e rn ...
156,186
74,960
R utland R R .....................
683,254
608,294
st. Louis A San F ran . >
9,038,601
1,452,469
10,491,070
Ohio. & E ast’ n I l l i n . $
21,502
^t.Louis Southw estern.
2,331,994
2,353,496
687,392
113,108
3t. L ouis V and. & T . H .
800,500
45.506
290,912
336,418
San Fran. A No. P aoiflc
377,218
4,366,436
3,989,218
Seaboard A ir L in e_____
133,877
320,679
188,802
Southern In d ia n a ...........
southern R a ilw a y _____ 14,211,952 12,649,191 1,562,761
64,875
553,083
H au te A I n d ia n a p ...
617,938
26,262
159,698
185,958
fe r r e H au te & P e o r ia ..
163.422
29,275
192,697
Cexas C en tral..................
167,975
3,885,266
3,717,291
f’ exas A P a oiiio..............
44,994
T exas 8ab. Val. A N. W .
43,3 )0
1,092,095
865,529
226,566
Coledo A Ohio C en tra l..
344,348
65,882
410,2 30
Toledo P eoria A W est’ n
1,039,502
8 28,092
211,410
Tol. St. L. A W estern ....
y l3 7 .5 5 2
y 170.260
32,708
T oronto H am . A B u fl...
408,661
Union Pacific proper.
*8,485,816 *8.079,155
6,089,487
6,650,656
567,169
V abash ..........................
1,321,727
1,075,231
246,496
Wheeling A L ake E r ie ..
143,161
2,026.036
1,832,875
V isoon sin C e n tra l_____
2,266,814
2,283,059
16,245
Yazoo A M iss. V a lle y ..
T ota l (80 ro a d s )___ 269,474,440 237,871,314 31,887,049
31,603,126
In crease (13 28 p. o .)...
M exican R oa d s—N ot Inoluded in totals.
Interooeanio (M e x .)___ §1,677.400 §1,511,985
8,310,677
6,603,976
M exican C e n tra l).........
M exican R a ilw a y .......... §1,751,700 §1,592,100
1/302,738
M exican S ou th ern .........
y319,268
3,534,392
2,776,635
National R R . o f M e x ...

165,415
1,706,70)
159,600
16,530
757,726

Decrease
#
. . . .

. . M

.....................

....

....• • • •
. . . .

. . M

. . . .

. . M

15,949

....

. . . .

. . . . . . . .

------1,694
. . . .

. . . .

. . . . . . . .

. . . .

. . . .

. . . . . . M

. . . . . . . .

283.923

. . . . . . .
. . . . ______

T o ta l (80 road s)... . 69,812,310 61,413,330 +8,398,980 101,421 99,450
( N ot inolud ed in total 8.)
§430,700
In terooean io |Mex.). .
§402,470
+ 28,230
. 2 210,475 1,717,727
+ 4 9 2 ,74S
.
§421,600
+43.80C
§377,800
5)62,219
y 57,082
+ 5,137
893,919
695,300
+ 1 98,619

555
2,686
321
263
1,323

580
2,915
321
263
1,396

* B oston and A lb a n y tnoluded In b o th yea rs, t R esults on M on terey
& M exican G u lf are Inoluded In 1903 and 1902 and M ex ico , C uern a­
v a ca A Paciflo, R io V erde B ran ch , etc., in 1903.

ITEMS ABOUT BANKS, BANKERS AND T R U ST C O ’S

1 In clu d es L ake E rie & D e tro it R iver R a ilw a y.
§ Figures are fo r fo u r w eek s en din g A p ril 25.
UIn clu d es p rop rieta ry roa d s in b oth years.
IT F igu res are fo r five w eek s en din g M ay 2.
* F igures d o n ot lnolude O regon S hort L ine R R . o r O regon R R . A
N a vig a tion Co.
y F igures here g iven are fo r th ree w eeks o n ly o f th e m on th in b oth
years, th e fou rth w eek n o t y e t reported.
GR O SS E A R N IN G S F R O M J A N U A R Y 1 TO A P R IL 30.
N am e o f R oad .
A la bam a G t. S o u th e rn ..
A la. N. O. A T e x . P a c .—
N. O. & N orth east’n ...
A labam a <feV lck s b ’g . .
V iok sbu rg Slir. & P a o .
A n n A rb o r........................
A tl. K n o x v . & N orth ’ n.
B altim ore & O h io___ )
B alt. & Ohio S o’ w ’ n 5
B e lle fo n te Central.
Buff. R ooh . A P ittsburg.
Oanadlan P a cific.............
C entral o f G e o r g ia .......
C hattanooga S ou th ern.
C hesapeake & O h io___
Chic. G reat W estern ___
Chic. In d . A L ou lsv.......
Chic. T erm ’l T ra n s ie r ..
Oln. New O rl.& T sx.F ao.
U lev.C in. Chio. <t St. L ..
P eoria & E a s te r n .......
C olorado & S o u th e rn ...
D en v. A R io G r a n d e ..)
R io G rande W estern s
D etroit Southern.............
D u l. So. Shore A A t l___
E van sv. & Indian apolis
E van sv. & T erre H aute.
Ga. Southern A F lorida.
G rand T ru n k ................ 1
Gr. Trunk W estern .. >
D et. Gr. H. A M i l w .. )
S re a tN o . S t.P.M . A M. >
E ast’ n o f M in n esota 5
M ontana C entral.........
H ook in g V a lle y ..............
Illin ois C e n tra l...............
Illin ois Southern
In t. A G reat N orth ern ..
Io w a C entral................
K anaw ha A M ichigan
K ansas C ity S ou fh ern ..
L ak e E rie A W e s te r n ...
L ou isv ille A N a sh v ille..
M acon A B irm in g h a m ..
M a n istlqu e.......
M ineral Range,
M inneapolis A St. Louie
Minn. 8t. P .A 8 . Ste. M.
Mo. K an . A T e x a s ........
M o. P aciflo A Iro n M t.
C entral B ra n ch ..........
M obile J a ok .A K. CityU

1903.

1902.

* B oston A A lb a n y inoluded In b oth years.
t The M on tereyA M exican G u lf was n ot tnoluded in 1902 until M arch 1 .
1 Includes L ake E rie A D etroit R iv e r R a ilw a y.
|| Inoludes p rop rieta ry roads in b oth years.
§ Figures are fo r fo u r w eeks to A p ril 25.
IT Figures are fo r p eriod to M ay 2.
y These figures are d ow n to th e end o f the th ird week o f A p ril o n ly .
x Figures d o n o t in clu d e O regon Short L in e R R . or O regon R R . A
N avigation com panies.

in c r e a s e .

$
906,935

$
827,561

$
79,374

803,068
399,252
441,865
695,555
229,961
20,201,027
21,479
2,345,710
13,354,502
3,182,782
39,736
6,091,860
2,503,522
1,629,498
556,617
2,048,527
6,281,960
973,473
1,899,124
5,199,641
490,509
823,811
120,641
642,363
582,573

890,891
342,132
394,102
626,581
210,333
18,188,091
18,937
1,755,977
11,188,450
2,578,113
32,261
5,408,036
2.364,874
1,398,515
530,087
1,844,854
5,523,335
"7 3 .1 0 0
1,756,159
5,021,631
393,371
830.149
110,389
473,033
412,145

112,177
57,120
47,763
63,974
19.648
2,012,936
5,542
5R9.733
2,166,052
604,669
7,476
683,824
138,648
235,981
26,530
198,673
758,625
200,373
142,965
178,010
97,138

10,821,323

9,272,533

1,548,790

10,396,541
721,558
1,768,496
14,907,918
44,327
1,681,28 i
796,425
456,897
2,132,646
1,540,286
11,844,020
46,658
14,771
180,468
876,278
1,990,096
5,445,372
13,418.987
418,131
101,220

9,684,950
605,705
1,585,316
13,422,813
41,449
1,550,183
851,833
366,470
1,962,069
1,465,295
10,253,331
40,488
23,654
194,540
1,057,857
1,697,498
4,929,768
11,181,386
312,175
59.377

711,591
115,853
183,180
1,485,105
2,878
131,105

io ,2 5 2
69,330
170,428

90,427
170,577
74,991
1,590,689
6,170

292,593
515,604
2,232,601
105,956
41.843

Deereaic
*

—The public sales of bank stocks this week aggregate 247
shares, of which 134 shares were sold at auction and 113 at
the Stock Exchange. The transactions in trnst oompany
stocks reach a total of 60 shares. The only sale of bank or
trust company stock reported from the “ curb” market was
of 15 shares of Metropolitan Trust Co. stock at 620.
B a n k s — New F o r k .
P r ice .
10 C entral N ational B ank............ 170
30 Chatham N ation al B a n k ......... 360%
*20 C ity Bank, N ational.................. 295
*93 C om m erce,N ational Bank o f . .
3 5 5 —365
9 Leather M frs.’ Nat. B a n k ....... 349%
50 M echanics’ N ational B an k ___ 282
6 M ercantile N ational B an k ....... 3 0 0 78
7 M erchants’ E xoh. Nat. B ank..
172
10 N orth A m erica , Nat. B ank o f .
225
12 Park B ank, Nati inal................ 480%

S n a re s

T

ru st

C

o m p a n ie s

—N ew F ork.

5 Central Trust C o ........................ 2460
5 N. Y . L ife Ins. A Trust C o........ 1200
50 W ashington T ru st Oo................. 400
* Sold at the S tock E xchan ge.

_______

6,338

........
—

55,408

8,883
14,072
181.579

Last p r e v i o u s sale.
Mar. 1903— 170
Feb. 1 9 0 3 — 361
M ay 1903— 300
M ay
1903— 370
M ay 1 9 0 3 — 349*9
M ay 1903— 281%
M ay 1903— 302
M ay 1903— 170*9
M ay 1903— 225
M ay 1 9 0 3 — 480
M ay 1903— 2500
Jan. 1903— 1236
June 1902— 399%

—The Morton Trnst Company of this city has also an­
nounced its determination to withdraw from the privileges
of the Clearing House. Notice has been given that on and
after the 20th checks and drafts drawn upon the company
should be presented at its office. The Metropolitan Trust,
it is expected, will also sever its relations with the Clearing
House; as yet, however, no definite action has been taken by
this institution.
—The annual election of officers of the New York Stock
Exchange was held on Monday. There was no contest except
in the case of two members for the Governing Committee to
serve four years, Two independent candidates had been put
up for these places, only one of whom, Mr. Charles S. Bryan,
was successful. Mr. Ransom H. Thomas, Chairman of the
BuildiDg Committee, was elected President of the Exchange,
succeeding Mr. Rudolph Keppler. Vice-President H K.
Pomroy, Secretary William McClure and Treasurer F. W.
Gilley were re-elected to their respective offices.
—The Court of Appeals of this State has jast rendered a
decision in a case involving the question whether or not the
determination of the Superintendent of Banks that a banking
corporation is insolvent is conclusive and leaves no discretion
in the courts as to whether a receiver should be appointed.
The matter came up in the case of the People vs. the Man­
hattan Real Estate & Loan Co. of New York City, and the
lower courts had taken the view that the decision of the Su­
perintendent of Banks was final. The Court of Appeals re-

May 16, 1903.J

THE CHRONICLE

verses this judgm ent and holds that the mere opinion o f the
Superintendent that a corporation is insolvent is not co n ­
clusive and that sufficient facts must be presented to the
court to enable the latter to determine if a receiver should
be appointed. Judge O’Brien, in his opinion, says :
A judgment dissolving a corporation and distributing Its assets must
be based upon tangible faots snob as In law are sufficient to justify the
oonrt In granting a Judgment of dissolution. The report of the
Superintendent of Banks, as already remarked, may be sulllolent to
put the Attorney-General In motion, but before he can procure a judg­
ment annulling a oorporate charter, the faots which justify that remedy
must be alleged and proven. I f the opinion of the Superintendent or
o f the Attorney-General, derived from an examination of the affairs
o f the corporation, could be held sufficient to sustain the motion, then
there would be no necessity of referring the matter to theoourt at all.

— Mr. W illiam H. Porter, Vice-President, was this week
elected to the office o f President o f the Chemical National
Bank of this city, to succeed the late George G. W illiam s.
The eleotion was unanimous.
Mr. P orter became V ice
President of the Chem ical in January 1899, previous to which
he was Vice-President o f the Chase N ational and is consid­
ered exceptionally well qualified fo r his new post. The
board o f directors on the 11th inst. adopted a m inute co m ­
mem orative of the death o f President W illiam s, in which a
marked tribute was paid to the services rendered by him in
various capacities during his long banking career.
—Kuhn, Loeb & Co. opened for business on M onday last in
their new twenty-story building on the corner of W illia m
and Pine streets. The new offices, w hich were beautifully
deoorated with floral offerings from friends in honor o f the
occasion, are spacious, well lighted and very handsome.
A m ong the tenants in the building are Spencer Trask & Co.
(w ho have the entire second flo o r); the N ew York L ife In­
surance C o.’s dow ntow n agency; Guthrie, Cravath & Hen­
derson; Joh nE . Parsons; Peckham , W arner & Strong; N ob le,
Jackson & Hubbard ; Price, W aterhouse & Co. and Jones,
Caesar & C o.; M. S. & I. S. Isaacs; Parsons, Closson & MeIlvaine, and many other well-know n banking and law firms.
—Mr. John M, Crane has resigned as V ice-President o f the
National Shoe & Leather Bank o f this city after rounding
out fifty years of continuous connection in the in stitu tion ’s
service. Mr. Crane joined the bank as clerk on*May 1 1853,
and gradually worked his w ay up to the Presidency, which
office he held until last Jaly, when M r. W . L. M oyer suc­
ceeded him.
—A s far as we can learn, current newspaper reports that
the National Shoe & Leather Bank is to be m oved from its
present location to offices in the W all Street district appear
to be based largely on conjecture. As the International Bank­
ing Corporation recently acquired con trol o f the Shoe &
Leather and is about to erect a new building on W a ll Street,
the supposition that the bank m ight also be located under
the same roof seems natural, but we are inform ed that there
is no present intention of making a change.
—Group 3 of the New Y ork State Bankers’ A ssociation,
which is composed of bankers o f this city , held its annual
meeting on Saturday last at the Law yers’ Club. A luncheon
follow ed the business meeting at w hich Mr. Ham ilton Fish,
Assistant Treasurer o f the United States at N ew Y ork, was
the guest of honor. A t the eleotion o f officers, Mr. W illiam
A. Nash, President of th9 Corn Exchange Bank, was chosen
Chairman, and Mr. Charles E. W arren, Cashier o f the L in­
coln National Bank was made Secretary and Treasurer. The
executive com m ittee consists o f Mr. W . M. Bennett, Cashier
o f the Bank o f A m erica; W . A . Simonson, V ice-President of
the National City Bank; Charles H. Stout, Vice-President o f
the L iberty National Bank; David H. Pierson, Cashier o f the
Bank o f the Manhattan Company, and Charles L . R obinson,
Cashier of the W estern National Bank.
—Mr. W illiam Lum mis and Mr. Charles Hudson have
been elected V ice Presidents o f the T hirty-fourth Street
National Bank of this city.
—Messrs. W inslow , Lanier & Co. have removed this week
from 17 Nassau St. to more com m odious offices in the Mutual
Life Building, 59 Cedar St.
—The tenth annual meeting of the Savings Banks Association
of the State o f New York was held on Tuesday in the Chamber
o f Commerce Building. Charles A . Schieren, the President,
presided, and in his address referred to the interesting faot
that in ten years savings bank depositors in this State had
increased from 1,593,804 to 2,275,385 and the amount of de­

1063

posits from $629,358,895 to $1,077,883,743. Papers were read
by S. Mitchell ltainey, of Hudson, on the subjeot of carrying
joint accounts; by Cnas. E, Sprague, President of the Union
Dime Savings Institution, on the “ Basis of Valuation;” by
John R. Van Wormser, of the Lincoln Safe Deposit Co., on
the “ Influence of savings banks on the community, as an
encouragement of thrift and enterprise, and the benefit
derived by the people from placing their money in savings
banks,” and by Horace White, on “ The Currency Question.”
William Hanhart, Secretary of the savings bank section of
the American Bankers’ Association, explained to the mem­
bers the constitution and organization of that section, and
extended an invitation to those present to become members.
It was voted to send two delegates to the next convention
of the American Bankers’ Atsociation at San Francisco.
The following officers were elected for the current year:
President, Charles A. Schieren; First Vice President, James
McMahon; Second Vice-President, Edward S. Dawson; Third
Vice-Presiuent, Charles E. Hanaman; Secretary, William G.
Conklin; Treasurer, Samuel D. Styles,
—The Title Guaranty & Trust Company will soon add
three extra stories to its Brooklyn office building on Remsen Street, near Court S ’ reet. The additional space is
needed to accommodate the company’s growing business.
—The County Trust Company of White Plains, N. Y., has
been authorized by the State Banking Department to begin
business. Mr. David Cromwell, President of the First Na­
tional Bank and of the Home Savings Bank of White Plains,
and Mr. Howard E. Foster, Cashier of the Central Bank of
White Plains, are interested in the new institution, as are
also the Farmers’ Loan & Trust Company and Messrs. Sutro
Bros. & Co. of this city. The capital has been fixed at
$100,000 and surplus at $50,000.
—A temporary run on the Fidelity Trust Company of Buf­
falo, which resulted in the withdrawal of a sum in the
neighborhood of but $100,000, was experienced last Saturday.
In a statement issued by the trustees of the company it is an­
nounced that the run was occasioned by persistent rumors in
circulation for three or four weeks to the effeot that a large
defalcation had occurred in some Buffalo Bank. The rumor
wa9 steadily enlarged upon, finally naming the Fidelity as
the institution which had sustained the loss. The company
characterizes the story as absolutely false in every particu­
lar and states that there has been no defalcation to the ex­
tent of even a dollar. A reward has been offered for infor­
mation disclosing the name of the person originating the
rumor. Business went on as nsnal this week and it was
stated that $500,000 in currency received on Monday from
New York would be returned.
—The Commercial Bank of Syracuse, N. Y., has taken the
necessary steps to become a national bank and its applica­
tion to change the name to the Commercial National Bank
was sanctioned by the Comptroller on the 4th inst. The
capital remains at $250,000.
—The State Bank of Tonawanda, at North Tonawanda,
N. Y ., has also made preparations to enter the national sys­
tem, its name under the change becoming the State National
Bank of North Tonawanda. Approval was granted on the
6th inst. The bank has a capital of $200,000.
—The directors of the First National Bank of Paterson,
N. J., have resolved to increase the capital Lorn $400,000 to
$500,090. The increase in the capital will be accompanied
by an addition of $200,000 to surplus and profits, as it is the
purpose to sell the $100 shares at $300 each. The payment on
the new stock will be in two allotments, the first on July 15,
1903, and the second on August 15, 1903. Certificates of
stock will be issued on October 1. For every four shares now
held the stockholders will be permitted to subscribe for one
share of the new issue.
—The partnership existing between Dennett, Crane &
Blanchard of Boston has been dissolved and the business
taken over by Dennett Bros. & Co., which consists of Oliver
M. Dennett and H. S. Dennett. The latter is the Board
member.
—Under a proposed amendment to the charter of the
National Trust Company of Bridgeport, Conn, (a projected
enterprise), the authorized capital is to be increased from
$200,000 to $600,000, but the concern is not to begin business
until $100,000 has been subscribed and paid in. The company
was originally incorporated by the General Assembly in 1899,

1064

THE CHRONICLE

and has authority to establish branches outside o f Bridgeport,
where its principal office is to be.

[V ol. LXXVI.

be sold for cash and 6,000 on instalments. Tem porarily, the
com pany’s offices will be at 312 Fourth Avenue.

—Mr. Harry Bntler, Treasurer o f the Portland Trust C om ­
—The Pittsburgh National Bank o f Commerce o f P itts­
pany o f Portland, M e., since its organization eighteen years burgh, which was taken over in March by the M ellon N a­
ago, was on the 12th inst elected President to succeed Mr. tional Bank o f Pittsburgh, went into voluntary liquidation
W illiam G . Davis, w ho died in A pril. The office o f Treas­ under date o f May 2.
urer has not yet been filled.
—The Guardian Trust Company o f Pittsburgh, a receiver
—Mr. Harris W hittem ore, President o f the Naugatuck, fo r which was asked several weeks ago on account o f a
M alleable Iron Company, o f Naugatuck, Conn., has been claim for non-payment o f rent, was re-organized last weekj
according to the local reports. The officers are Mr. Milton I.
elected a director o f the Century[Bank o f this city.
—The First National Bank o f W orcester, Mass., has Baird, President, and J. B. Martin and W . E. Hildebrand
reduced its semi-annual dividend from 5 to 3 per cent. A Vice-Presidents. Of these Vice-President Hildebrand is the
reduction from $200,000 to $100,000 has also been made in the only one who was originally connected with the com pany in
surplus, the bank having charged off some poor paper which an official capacity when organized several months ago.
The capital and surplus are intended to be $500,000 each.
it had been carrying for some time.
—The stockholders o f the Tradesmen’s Trust & Saving
Fund Company of Philadelphia w ill hold a special meeting
on June 17 to vote on a proposed increase in the authorized
capital from $250,000 to $500,000.
—Mr. D erick Fahnestock, o f Messrs. D. Fahnestock & Co.,
bankers, o f Baltimore, Md., died in that city on Sunday. Mr,
Fahnestock was 82 years old. He entered the dry goods
house o f the late Chauncey Brooks at the age o f sixteen
years, and eventually became a partner, the name being
changed to Brooks & Fahnestock. The partnership was dis­
solved in 1869, and in 1870 the firm, o f D. Fahnestock & Co.
bankers, was established, Mr. Brooks, now deceased, then be.
ing the partner. The firm is n ow composed o f Mr. Fahne­
stock ’s sons, Messrs. A lbert and Harry. For some fourteen
years Mr. Fahnestock was President o f the Baltimore Stock
Exchange (w hich position he held at the time of his death),
having been re-elected at each annual meeting.
—T o illustrate its grow th during the past five years, the
Citizens’ National Bank o f Baltim ore publishes a statement
in the local papers com paring the figures o f the various
items on May 1 1903 with those o f May 1 1898. In the de­
posits an increase of $2,139,555 is noted, the amount in 1898
being $1,968,388 against $4,107,943 Loans and discounts are
now $4,349,678, as compared w ith $2,077,547 in 1898, and cash
and reserve total $1,572,018, as against $652,980 in the early
year. The capital has been increased in the interval from
$500,000 to $1,000,000. The dividend rate has also advanced.
W h ile but 8 per cent was paid in 1898, the amount rose to 10
per cent in 1900, 13 per cent in 1901, and reached 14 per cent
in 1902. The management consists o f W esley M. Oler, Presi­
dent; David A m bach, Vice-President; W illiam H. O’Con­
nell, Cashier, and A lbert D. Graham, Assistant Cashier.
—A savings department, where accounts o f not less than
$100 m ay be opened, upon which 4 per cent per annum w ill
be paid, has been established by the Lincoln National Back
o f Pittsburgh.
—In arranging the preliminary details for consolidating
the People’s Savings Bank and the Safe Deposit & Trust Com­
pany o f Pittsburgh, it had been expected that the exchange
o f savings bank stock w ould be on the basis o f one $100
share and $40 in cash for one share o f the issue o f the con­
solidated institution. A re-valuation o f the bank’s properties,
how ever, has made the payment o f the $40 unnecessary, the
bank showing a surplus above the $350 book value, w h ich is
the basis o f consolidation. In fact, the re-valuation has in­
creased the surplus to such an extent that the bank has been
able to declare, in addition to the regular semi-annual divi­
dend o f 4 per cent, an extra dividend o f 15 per cent. A bal­
ance still remaining after the payment o f this latter d iv i­
dend was disposed o f by presenting to each o f the bank’s
employees an extra m on th ’s salary.
—The payment of 50 per cent o f the subscription price of
$125 per share on the stock o f the Industrial National Bank
of Pittsburgh was called for yesterday, the 15th inst.
— Additions continue to be made each week to the number
o f trust companies in process o f organization in Pittsburgh.
Several m ore such institutions are now being promoted. One
is the Treasury Trust Company, which is to have a capital
of $250,000 and surplus of $50,000. The company w ill locate
in the Merchants’ & Manufacturers’ Bank Building.
— Another financial institution ju st form ed in Pittsburgh
is the International Savings & Trust Company, w ith $250,000
capital and $50,000 surplus. The par value o f the shares is
$25, calling for an issue o f 10,000 shares. O f these, 4,000 w ill

—The Home Savings Bank, one o f the new financial insti­
tutions in Cincinnati, began business on M onday o f this
week in its offices in the Bell B lock on V ine Street. The
bank will do a savings and com m ercial bank business. It
has a paid-up capital o f $50,000.
— A prospective trust com pany is talked o f in Cincinnati
to occupy part o f the new Ingalls Building, where the Mer­
chants’ National Bank w ill rem ove upon the com pletion of
the building, early next year.
The bank’s officials seem
to favor the idea o f such an organization to co-operate with
the bank. Matters, however, are still in an em bryo state,
and nothing is likely to be definitely arranged fo r several
m onths.' Mr. M. E. Ingalls, President o f the bank, is looked
upon as the possib'e head o f the proposed institution.
— Mr. Henry Bnrkhold, Cashier o f the Franklin Bank of
Cincinnati, has concluded the purchase o f a site on the
northwest corner o f Fourth and Main streets. The consid­
eration is understood to have been $130,000. This purchase
would seem to indicate that the bank, now on Third Street,
intends to change its location to the new banking centre at
Fourth Street.
— The directors o f the W oodlan d A venue Savings & Loan
Company o f Cleveland, Ohio, have called a m eeting of the
stockholders, to be held June 15, for the purpose o f acting
upon the question o f amending the articles o f incorporation
so as to change the name and enlarge the com pany’s scope.
—The Lim a Trust Company, recently incorporated, began
operations in Lim a, Ohio, on Monday. The com pany has a
capital o f $200,000. Its officers are : D. J. Cable, P resid en t;
J. D. S. Neely and J. O. H over, Vice-Presidents, and C. H ,
East, Secretary and Treasurer.
—In addition to the new trust com pany in Dayton, Ohio,
referred to in these colum ns last week, a similar institution
is about to be started in that city. This latest organization
is the Southwestern Ohio Trust Company, w h ich has been
capitalized at $200,000. The shares are to be sold at a pre­
mium o f $25 per share—$125 each.
—The Com ptroller has approved the application to organ,
ize the Central National Bank o f Battle Creek, M ich., w ith a
capital o f $200,000.
— A number o f prominent Chicago bankers are prom oting
a m ovem ent to induce the United States Treasury Depart­
ment to becom e a mem ber o f the Chicago Clearing House, as
it has been fo r years a member o f the New Y ork Clearing
House. It is claim ed that this w ould greatly facilitate busi­
ness between the Sub-Treasury and the local banks.
— A new bond house was form ed in Chicago on the 13th inst
under the style o f Eversz, F ollansbee& Co., to deal especially
in Government and railroad securities, in addition to a
general banking and investment business. Ernest H. Eversz,
the senior member o f the firm, son-in-law o f the late G eorge
F. Sw ift, was six years with N . W . Harris & Co., and has
been fo r tw o years manager of the Chicago office o f Redm ond,
Kerr & Co. Alanson Follansbee has been connected w ith the
latter firm for tw o years.
—Though not authoritatively announced, it is undoubt­
edly true that on July 1 w ill occur the consolidation o f tw o
o f the most prominent Chicago Board o f Trade firms, viz.,
Bartlett, Frazier & Co. and Carrington, Patton & Co. This
w ill include also the old grain comm ission firm o f Patton
Brothers. D aring the past five years James A . Patton has
been one o f the m ost successful operators on the Chicago
Board. H. H. Peters and H. E. R y cro ft, present partners in
Bartlett, Frazier & Co., will retire at the date o f the organi­
zation o f the new firm.

Ma t

16, 1903.]

1065

THE CHRONICLE

—Horace P. Taylor, President o f the Oakland National
Bank, Chicago, died on the 13th inst., at the age o f 75. Mr.
Taylor had been a resident o f Chicago for thirty years, and
was the organizer o f three banks in that city. Since the
founding o f the Oakland National, fifteen years ago, he has
been officially connected with that institution.
—The Dominion Bank o f Toronto, Canada, makes an ex­
cellent showing in its thirty-second annual statement for the
year ending A pril 30, 1903. Besides the payment o f the
regular quarterly dividends o f
per cent; $20,120 was
written off and $353,856 carried forw ard, against $205,366
carried forw ard last year. W ith the $483,865 premium on
the new stock added to reserve, that item has advanced to
$2,983,865. The aggregate o f total reserve and undivided
profits now stands at $3,337,221 and net profits for the year
just ended amounted to $445,567, agaiDSt $353,000 fo r the
previous year.
The annual meeting o f the stockholders
will be held on the 27th inst. The bank has a paid up capital
of $2,983,865. Mr. E. B, Osier is the President and Mr. T. G.
Brough General Manager.
—Mr. L. D. Skinner has been appointed Assistant Cashier
o f the Central Trust Company of Illinois at Chicago, in lieu
o f Mr. Charles T. W egn er, w ho has resigned on account of
ill-health. Mr. Skinner has been w ith the Central Trust
Company since its organization last July, and has earned
prom otion by diligent service.
—The R oyal Trust Com pany o f Chicago has appointed
Mr. H. C. Barroll as Manager o f its bond department. Mr.
Barroll was for some years w ith N. W . Harris & Company,
and fo r the past tw o years was Manager o f the Chicago
office of the Thompson Tenney & C raw ford Company.
—The North A m erican Trust Company o f N ew Y ork has
qualified to do a general trust business in Illinois by filing
w ith the State A uditor acceptable bonds to the amount of
$50,000.

IM P O R T S A N D E X P O R T S F O R A P R I L .

The Bureau of Statistics at Washington has issued
the statement of the country’s foreign trade for
April, and from it and from previous statements
we have prepared the following interesting sum­
maries.
F o r e ig n T b a d e m o v e m e n t o p t h e U n i t e d S t a t e s .
[In th efollow lu K tab le* three alpher* (000s) are In all oases om itted.]
---------------1 9 0 2 -0 3 .--------------- --------------- 1 9 0 1 -0 2 .--------------- .
E x v o r ti.

Me r o h ’ dl ee.

July-Sept...
Oot.-Deo....
January....
February...
March.........
April...........

l

304.986
417.521
134.032
125.580
1 3 2 ,0 9 4

109.542

Total...... 1,223.741

Im p o r tt.

i

20.095

I

8 0 4 .7 2 1 + 3 5 9 .0 2 0

G o l d a n d G o l d In O r e .
July-Sept...
10,720
11,720
Oot.-Deo....
5,035
19,288
January....
83
2,011
F ebruary...
1,605
1,817
March.........
1,013
4,568
April...........
1,708
1,106
Total........

4 0,508

40+45

20,453

+ B x ce s so f exports.

3 ‘2 4.460
419,057
1 2 9 ,U6
101,570
1 0 0 .7 4 9

109,170
1 ,1 9 0 + 6 7

Im p o rts.

t

E x c e l!.

*

‘2 13,037 + 1 1 1 ,4 2 9
2 3 3 ,0 4 3 + 1 8 5 ,1 1 6
7 9.138 + 50,0 07
08,350 + 33,220
84,227 + 2 2 .5 2 2
75,822 +33.848
7 5 4 .5 1 8 + 4 3 5 .6 4 1

-1 .0 0 0
-1 4 .2 5 1
-1 ,9 2 5
-8 1 2
-3 ,5 2 5
+600

3,190
25.102
1,975
8,«66
4,433
2,844

1 9,472 -1 0 ,2 8 2
1 9,863
+5,740
1,406
+589
1,697
+6,969
2,636 +1,797
1,806
+979

-2 0 .4 1 3

40.209

4 0,483

+6,569
+5.993
+2,101
+2,159
+2,259
+1,003

1 3,058
14,161
4,524
3,927
3,301
3,741

8,655
2,108
2,006
2,307
2.051

+ 20,087

42,097

S i l v e r a n d S i l v e r In O r e .
July-Sept...
13,052
6,488
Oot.-Deo...,
13,693
7,700
January....
3,677
1,473
February...
3,867
1,708
March.........
3,737
1,478
A pril...........
2,619
1,616
T otal........

E x p o r t i.

E xcess.

t

*345,808 +50.158
2 0 7 . 107 + 150 .364
85.175
+ 48,8 67
82.822 + 42.981
90.231 + 3 5 .8 e o
87.715 + 21,827

-2 2 0
7,356+5.897
+5.496
+2,416
+1,921
+994
+1,690

24,483 ~ 1 8 + ! 1 4

— Excess o f Im ports.

We subjoin the totals for merchandise, gold and
iilver for the ten months since July 1 for six years.
M e r c h a n d is e .

Go l d .

Ten
Excess E x ­
Mot. Exports. Imports.
0/
E xports ports.

Si l v e r .

E xcess
E x­
Im ­
of
ports. Im ports ports.

E xcess
Im ­ o f E x ­
ports. ports.

—In the consolidation o f the People’s Trust & Savings
*
1
1
1
1
1
*
1
t
Bank of Galesburg, 111., w ith the newly organized Galesburg
0 2 -0 3 1,223,741 864,721 359020 20,005 40,509 *20.418 40.546 20,455 20,087
Trust & Savings Bank, the capital stock has been fixed at 0 1 -0 2 1,100,157 754,516 435641 46.200 46.43!*239 42,097 24,483 18,214
$250,000. The new ly elected officers are: President, M. O. 0 0 -0 1 1,200,423 676,125 584298 37,739 61,017 *23,870 55,530 31,707 23.623
45.458 27,898 17,502
1,172,403
717,280
37,161
27,964
*9,197
455117
W illiam son; Vice-President, J. G. V ivian ; Cashier and S ec­ 9 9 -0 0 1,030,768 565,231 471657:14,604
82,778 *68,214 48.039 25.788 22,270
9 8 -9 9
retary, H. J. Butt; Assistant Cashier, F. C. Gordon.
9 7 -9 8 1.025,220 511.200 51 4020:14,922 103,730 *88.817 46.704 27,324 1 9.440
* Excess o f imports.
—The Bond Department o f the A m erican Trust & Savings
Bank, Chicago, has ju st issued a 44-page pamphlet in hand­
some covers, containing a list o f between one and tw o
million dollars w orth o f choice railroad and semi-public
Go l d .
Si l v e r .
Me r c h a n d i s e .
corporation bonds (besides “ governm ents” ) w hich are offered
Four
E
xcess
E xcess
E
x
cess
Mos.
for sale at prices netting 3% to 5J^ per cent to the investor.
Im ­
E x­
E x­
Im ­ of E x­
E xport!. Im port!.
of
of
Exports ports. ports. E xp orts p orts. ports. p orts.
This bank has greatly enlarged the facilities o f its Bond and
*
t
t
1
*
I
*
*
1
Trust departments during the past year. Mr. George B.
1 9 0 3 . 501,255 351,746 149509 4,340 9,502 *5,162 13,800 6,275 7,525
Caldwell is Manager of the Bond Department.
1 9 0 2 . 446,034 307.538 139096 17,917 7,004 10,313 15,493 8,472 7.021
—A certificate of organization was issued on May 6 to the 1 9 0 1 494,511 286.394 2 0 8 U 7 14,045 10,893 3.152 19,470 10,466 9,023
489,953 306,763 183190 10,133 9,218
92; 19,110 11.488 7,628
W ashington National Bank o f St. Louis, M o. The bank is 1 9 0 0 . 402,763 256,527
146256 4.595 17,211 *12 818 18,840 9 531 9,309
1899
capitalized at $200,000. Mr. David Rosentreter is the Presi­ 1 8 9 8 . 415.279 221,411 193868 5.741 7 5 943 *70,202 16,257 9 289 6,968
' Excess o f im ports.
dent and H. N. Tinker the Cashier.
—The consolidation o f the Colonial Trust and the Common­
wealth Trust companies o f St. Louis has been practically
accomplished. A ll liabilities o f the Colonial were assumed
on the 10th inst. by the Com m onwealth. The name o f the
latter w ill be retained by the consolidated institution.

Similar totals for the four months since January 1
make the following exhibit.

In these tables of totals, gold and silver in ore for
all years are given under the heads respectively of
gold and silver.
The following shows the merchandise balance for
each year back to 1876.

.

—The branch w hich the Citizens’ Bank o f Savannah, Ga.,
E X C E S S O P M E R C H A N D IS E IM P O R T S O R E X P O R T S .
is preparing to open at the corner o f Liberty and Montgomery
10 m o n th s e n d i n g A p r i l 3 0 —
4 m o n th s e n d i n g A p r i l 3 0 —
streets, w ill be in shape fo r business about June 1. Mr. 1875 .......................... Imports.§3,454,139
1875
........Imports. §5,686,626
1876
..........................Exports.
02,963,556
1876
....... Exports. 33,383,858
Edward M. O’Brien w ill be manager o f the general depart­
1877 ........ Exports.156,514,168 1877
....... Exports. 43,258,487
ment of the branch and Mr. Edward L. Schirm manager of 1878 ........ Exports.227,042,087 1878
E xports. 126,082,388
1879 ........ Exports.241,477,822 1879
....... Exports. 91,852,767
the savings department.
1880 ........ Exports.l 56,276,374 1880
....... Exports. 18,755,956
....... Exports. 84,834,039
—The capital o f the G eorgia Savings Bank & Trust Com­ 1881 ........ Exports. 246,546,791 1881
1882 ..........................Exports.56,685,427
1882
....... Imports. 8,654,286
pany of Atlanta, G a., is to be increased from $35,000 to $50,- 1883 ........ Exports. 109,307,462 1 8 8 3
........ E x p o r t s . 54 ,73 1 ,9 9 2
1884
....... Exports. 16,892,834
1884
..........................Exports.
78,952,915
000, the directors having recently adopted a resolution to 1885 .... Exports. 162, 165,130 1835................. Exports 52,816,397
1886 ..........................Exports.41,161,576
1886
....... Imports. 3,902,856
this effect. The increase w ill be made on June 1.
1887 ......................... Exports.52,567,394
1887
....... Exports. 1,613,824
1888
....... Imports. 29,886,256
—Mr. Stuart F . Smith has been elected Cashier o f the 1888 ..........................Exports.3,686,437
1889
................. .....Im p orts. 1,144,743
1889 ..........................Exports.26,782,236
Mission Bank of San Francisco, which is slated to open about 1890 ........ Exports. 103,523,279 1890
.. ...E xports. 16,283,641
1891
....... Exports. 16,537,636
1891 ..........................Exports.69,363,621
July 1.

1892.. ......Exports.208,996,609 1892
1893 ... ....Imports. 7,487,867 1893
1894 ........ Exports.233,071,183 1894
1895
1895 ..........................Exports.84,024,0-9
1896
11896 ..........................Exports.83,032,729

Exports.53,546,335
........Imports. 57,552,160
....... Exports. 55,565,443
....... Exports. 3,720,854
....... Exports. 55,106.905
1897
....... Exports. 50,438,737
1898
........Exports.193,868,483
1 8 9 9 .....E xports. 146,255,962
1900 .............. Exports.183,ISO,177
1901 ........ . ..Exports.208,116,704
1902 .................Exports.139,096,148
1903
.a . Exports.14.9,508,730
.

—Mr. Ralph Sewall Stacy has been appointed m anager o f
the Seattle, W ash., branch o f the London & San F rancisco
Bank, Ltd. Mr. Stacy has been w ith the Seattle office since
its establishment in 1901. In his new position he succeeds
Mr. J . G. Gauld, w ho resigned several months ago on a c­
count of ill-health, The bank’s other branches are located at
Portland, Ore., San Francisco and Tacom a.

1 897
1898
1 89 9

............Exports.299,740,002
............ Exports. 514,020,400
............ Exports.471,557,021

1900 _
Exports. 455,116,984
. .......Exports. 584,298,012
1902 ........ Exports.435,640,680

1901..
1903

............ E xp orts.359,019,774

[V ol .

THE CHRONICLE.

1066

ploixetiiryl Commercialgti gUsItJIntf?
IFrom our own correspondent.]
L o n d o n , Saturday, M ay 2, 1903.

LXXVI,

M oney continues exceedin gly scarce and dear. This w eek
the borrow ings from the Bank b y the open m arket have been
on a very large scale. N o dou bt part o f the dem and was fo r
the Stock E xchange, fo r although the bull accou nt open is
small in m ost departments, yet there has been a very great
increase o f a ctiv ity in the A rgentine departm ent during the
week, w hich m ust have led to considerable borrow in g from
the bank. Besides, there is alw ays an exception al dem and
for m oney just at the end o f the m onth. But, h ow ever it
m ay be explained, the fa ct is undoubted that the Bank o f
England still retains con trol over the open m arket, and so
far as one can see at present is likely to keep it for some tim e
yet. The Bank directors have again decided this w eek not
to reduce their rate o f discount. In Paris m oney is b ecom ­
in g m ore and m ore easy. A s already said, it is expected
that the applications from F rance fo r the Transvaal loan
w ill be on an enorm ous scale, and therefore it is anticipated
that the F rench banks w ill largely increase the balances
they are em ployin g here. The G erm an banka have likew ise
added to the balances they are em ployin g in London.
The India C ouncil continues to sell its drafts w ell. It
offered fo r tender on W ednesday 50 lacs, and the applica­
tions exceeded 4,583 lacs at prices ranging from Is. 3 29 32d.
t o l s . 3 15-16d. per rupee. A pplicants fo r bills at Is. 3 29-32d.
were allotted about 1 per cen t o f the amounts applied for.
A t higher prices allotm ents were m ade in fu ll. L ater in the
day the C ouncil sold by private con tra ct 3 lacs at Is. 3 15-16d.
per rupee.
The follow in g return show s th e position o f th e B ank o f
S n glan d.th e B ank rate o f d iscou n t, th e p r io e o f con sole, & o.
com pared w ith the last three y e a r s :

T here has been a general setback in the stock m arkets this
w eek, both here at hom e and upon the C ontinent. T he first
cause no d ou bt is the continued anarchy in the Balkans and
M orocco. Europeans gen erally believe that the troubles in
b oth w ill be localized. E very one is con vin ced that the
Czar w ill exert him self to the utm ost in the interests o f
peace, and there can be little d ou b t that the m ilitary party
in Russia is w ell aware that the cou ntry is not prepared fo r a
great war.
C onsequently it is universally believed that
R ussia w ill w ork h arm on iou sly w ith A ustria-H un gary, and
that som ehow or other the troubles in the Balkans w ill be
kept w ith in bounds.
A s regards M orocco, the K in g ’s visit to R om e and Paris
affords strong grounds fo r believin g that the relations be­
tw een this cou ntry, F rance and Italy are n ow so g ood that
the three governm ents are p ra otica lly agreed in m aintaining
the independence o f M orocco, and o f w ork ing together should
intervention becom e inevitable. B ut although it is every­
where believed that the E uropean peace w ill be preserved,
n obod y know s w hat m ay happen, to cause apprehension from
tim e to tim e, and th erofore fe w are w illin g to engage in
new risks.
In France, in addition, the execu tion o f the A ssociations
L aw is excitin g a great deal o f ill-feeling. It is believed that
th rou ghou t the cou n try m any w h o were form erly opposed
to the m onks are n ow shocked b y the num erous expulsions.
A t all events there is enough o f sym pathy w ith the e x ­
pelled orders to cause a g ood deal o f anxiety am ongst the
financial classes. It is said that the fa ll in F rench rente
this w eek to about 97% is due m ainly to heavy selling o f
rente by the expelled ordere, and it is expected that these
sales w ill continue, fo r undoubtedly the orders had invested
very large amounts in F rench rentes. The fa ll in rentes
naturally weakened the w h ole Bourse and had an adverse
influence likewfse upon the Stock Exchanges all over E urope.
Then, again, the state o f things in the Balkans is acting a d ­
versely upon Turkish, G reek, Servian and Bulgarian securi­
ties, all o f w h ich ere largely held in Paris.
Lastly, the great houses in Paris are preparing fo r the
com in g loan. It is said that the renew ed weakness in con ­
sols this week is due alm ost entirely to heavy selling by
F rench holders in preparation fo r the loan. The general
expectation in Paris and London is that if the term s o f the
loan are acceptable, the applications fro m F rance alone w ill
m ore than cover the w h ole am ount o f the loan; and there
w iil n o doubt be large applications from other C ontinental
countries.
A dded to this, the Stock E xohange settle­
m ent was going on from M onday m orn in g to Thursday
evening and took up a great deal o f the tim e and attention
o f the m em bers o f the H ouee, w h ile yesterday, the 1st o f
M ay, was Stock E xchange holiday.
In spite of all the causes o f weakness both here and in Paris,
the opinion is very strongly held in Paris that the placing o f
the Transvaal loan w ill m ark the beginning o f m ore activity
on the Bourse. The accum ulation o f unem ployed m oney in ;
F rance is enorm ously great. There is no tem ptation now to
engage in speculation either in Turkish, R oum anian, Ser­
vian, Bulgarian or Greek securities. N either is there to
engage in Spanish. On the other hand, everybody is looking
fo r a decided im provem ent here in L ondon, and therefore
the great F rench capitalists are not on ly preparing to apply
largely for the com in g loan, but they are anticipating very
considerable investm ents o f F rench capital in British securi­
ties. O ver and above this, it is anticipated that the religious
orders expelled from F rance w ill invest very largely in con ­
sols. Many o f these orders are settling here, and naturally
w hen they sell rentes they m ust invest in som e equally good
securities. Before lon g, therefore, a m arked revival in con ­
sols is anticipated.
F urtherm ore, although the com plaints o f the scarcity o f
native labor in South A frica continue, the supply o f such
labor is slow ly increasing, and gradually the outturn o f the
m ines is augm enting. In F rance itself there is little dispo­
sition to engage in new enterprise, partly because o f the
expulsion o f the monks, and partly because o f the fear in­
spired b y the grow th o f Socialism . But F rench savings go
on on an im m ense scale every year, and it is anticipated that
n ow that the relations between France and England have im ­
proved so m uch, the investm ent o f French capital in British
securities o f all kinds w ill be on a great scale. In G erm any
the slow , steady im provem ent that has been noticeable since
the beginning o f the year goes on. Trade is decidedly better
than it was. C onfidence is reviving, and, as in France,
there is a very general expectation that the placing o f the
new loan w ill usher in a period o f greater activity upon the
Stock Exchange,

190 2 .

190S.

Apr. 29.
1
C ir c u la t io n .. ........................... ..

.
.
O t t e r d e p o s i t * ...................................
G o v e r n m e n t s e c n r i t l e i ................ .
O th e r * e c n r l t l e « . _ ........................... ..
S e o e r r e o f n o t e * a n d o o l n ........ .
C oin ^ b u l l i o n , b o t h d e p a r t i n ’ t »k
P r o p . r e s e r v e ; o l i a b i l i t i e s . D . o l.
S a n k r a t e .......................p e r c e n t .
C o n s o ls , 3M p e r c e n t .....................

29,068,035
8,854 053
41,050.604
11.624.291
28,780,903
24.454.451
86,1:47.480
46%
4
91%
*4% 4
l l lv e r .................................................
C le a r in g -H o u s e r e t u r n s ............. 103.392,000

Public Os p cil ta ..................... .

1900.

1901.

A pr. 80.

May 1.

£
29,587,280
10,918,043
48,881,628
14,804.157
8 8 ,0 :5 ,6 93
24.298.0S2
86,925 878
44%

£
29,740,000
9,985.011
40.258,228
18.757.171
80,709.179
28.108,159
85,439.819
40 11-10

94 11-10
28% d .
219,828,000

91%
27 8-10(1.
221.937,000

8

1

May 2.
M
80.211,480
8,528,155
41,061,288
14.378.589
88.859,500
19,900,088
32,830,512
40
4
100 9-10
27%<L
186.930.000

Messrs. P ix ley & A b e ll w rite as fo llo w s u nder date o f
A pril 30:
Gold—The arrivals at the Bank of England total £376,000, of which
£345,000 is in bar gold. There are no outside orders, aDd there have
been no withdrawals. Arrivals: Cape Town, £429,000: Australia,
£40,000; West Africa, £10,000; Chile, £1,000: total, £480.000.
Shipments: Bombay, £34,000; Colombo, £500; Calcutta, £2,500; to­
tal, £37,000.
Silver—The silver market has shown wide fluctuations. The eoaroity of spot which we mentioned la9t week continued, and with further
compulsory oloeing of oontraots by shorts, coupled with some special
orders for home requirements, the price rose to 25ii6d., with business
as high as viS^d. The forward position has not been so good, and
there has been considerable selling from the East. These sales forced
the forward price down to 5gd. under spot, and we fell as low as
23fB16d. Spot followed to a certain extent, as holders wished to take
advantage o f the large backwardation. At the lower level there has
again been a good rush of buying orders and we close %d. higher on
the day at 24581. cash and 241sd. lorw ard.w iih no sellers. The In­
dian nrioe is Rs. 62. Arrivals: New York, £55,000; Australia,£6,000;
total, £81,000. Shipments: Bombay, £98,925; Calcutta, £15,000;
total, £113.925.
Mexican D ollars—The movements in dollars have! followed silver,
with some large transactions at about %d. under; £27,000 have to
come to hand from New York.

The q u o ta tio n s fo r b u llio n a re r e p o rte d as fo llo w s :
GOLD.
L o n d o n S ta n d a r d .

Bar g old , fine___oz.
SJ. 8. gold c o in ...o z .
G erm 'ngoldooin.oz.
Frenoh gold ooin.oz.
Japanese y e n ,...o z

A pr.

30.

*.
77
76
76
76
76

d.

9%
4%
5V
5*
4V

A pr.

1

Apr.
£0.

S IL V E R .

23. 1 L o n d o n S ta n d a r d .
s.
77
76
76
76
76

‘ Nominal.

d.
9% Bar silv er, fin e...os.
D o 2 mo. delivery
4%
5% Bar sliver, oontaln'g
5* | do 5 grs. g old.oz.
do 4 g rs. gold.oz.
4V
do 3 g rs .g o ld .o z .
Cake silv er..........oz.
Mexloan dollars.oz..

Apr.
23.

A
A.
2438 23%
23i&16 238i6

2478 24%
2411J6 24lla
24% 237s
26% 250s
2 3 V 221616

The fo llo w in g s h o w s t h e im p o r t s o f o e r e a lp r o d u c e ln t o t h e
United K in g d o m d u rin g th e th irty-fon r weeks o f the season
com pared w ith p r e v io u s s e a s o n s :
IM P O R T S .

1902-03.
Imp’ ts of wheat, O W t .5 2 , 664.275
Sarloy........................... 19,907,548
Date.............................. 9.560,813
Peas............................ 1,260,210
Beans............................ 1,198,155
Indian c o r n ................ 25,344,163
f l o u r ............................ 12,628,058

1901-02.
1900-01.
41.867,984 45,567.300
17,461,609 15,330,400
11,432,717 13.939,800
1,400,071
1,782,430
1.216,922
1,169,240
29,774,660 36,425,900
13,520,638 14,546,300

1899-00.
37,320,200
11.625,700
11,695,000
1,917,100
1,248,700
38,076,700
13,711,900

S upplies a v a ila b le fo r c o n su m p tio n (e x c lu s iv e o f s to ck
on deptem ber 1):
1902-03.
Wheat Im ported, C W t .52,664,275
imports O f flou r........12,628,058
Jalesof bom e-grown.17,090,568

1901-02.
1900-01.
1899 00.
41,867,984 45,567,300 37,320,200
18,520,638 14,546,300 18,711,900
18,945,317 17,659,301 22,474,275

T ota l.................... 82,382,901 74,333,939 77,772,901 73,506,375
w heat,w eek.26s. Id. 28s. 9d. 26s. 8d.
26s. Od.
average price, sea son .25s. 6fi. 26s. l i d
27s. Od.
26s. Od.
4,ver.prioe

T he fo llo w in g sh ow s th e q u a n tities o f w h e a t, flou r and
maize a floa t t o th e U n ite d K in g d o m :
This voeek.
Wheat............... q r s ...1,848,000
flo u r, equal to are... 342,000
tfalse.................q r s... 470,000

Last w eek.
1,918,000
292,000
625,000

1902.
4,075,000
255,000
520,000

1901.
3,295.000
445,000
490,000

May

16, 1903.]

THE CHRONICLE.

RECEIPTS AND DISBURSEMENTS (000 jmltted.)

fiu g lliM F i n a n c i a l J S a r k « U - P « r € a b l § .
T h e d a lly c lo s in g q u o t a t io n s f o r s e o u r l t l e s 9e t o . , a t L o n d o c

are

r e p o r te d b y c a b le a s fo llo w s fo r th e w e e k e n d in g M a y 15;
London.

M on .

Sat.

S ilv er, p e r o u n c e ........d.
C o n s o ls .,n e w ,2% p .o ts .
F o r a c c o u n t .................
F r’ ch ren ta sd n P a ris) fr.
A n a c o n d a M in in g .........
A toh . T o p . A S an ta F e ..
P r e fe r r e d .......................
B a ltim ore A O h i o .........
P r e fe r r e d .......................
C anadian P a c ific ...........
C h esapeak e A O h io —
Chloa. G reat W e s te r n ..
C hic. MU. & St. P a u l ...
D en. A R io G r .,o o m ....
Do
d o P re fe rre d .
E rie, c o m m o n ......... .......
1 st p r e fe r r e d ...............
2d p r e fe r r e d ..........« . . .
Illin o is C e n t r a l...............
L ou lsviU e A N a sh v ille..
M e x ica n C e n tr a l...........
M o. K a n . A T e x ., c o m ..
P re fe r r e d .................
N a tion a l R R . o f M e x ...
P r e fe r r e d ......................
31. Y . C e n t’ l * H u d son ..
M. Y . O n ta rio A W e st’ n
N o rfo lk A W e s te r n ........
Do
do
p ref.
N orth ern S e cu ritie s ___
P e n n s y lv a n ia .................
*P h lla . A R e a d ...............
•Phlla. A R e a d .,1st p re f.
•P hil a . A R e a d ., 2 d p r e f .
S ou th ern P a c ific .............
8 o u th ’ n R a ilw a y , c o m ..
P re fe r r e d ................ .
U n ion P a o ifio ..................
P r e fe r r e d .............. .
U. 8. S teel C orp ., c o m ..
Do
do
p r e f ..
W a b a s h ......................
Do
p r e fe r r e d ___ _
Do
“ B ” .........

241516 241®i 6
92
92
92316
9 - :i,s
97*90 97
5%
5°s
81%
82%
100
99%
94%
93%
95%
95%
135%
135%
46
45%
23
23%
164%
165%
36%
37
89
89
35%
36%
69%
70%
59
140
141%
120
121
28
28%
26%
26%
58%
58
23%
24
45%
45%
133%
134%
30
30%
73%
73%
92
92
1 0 0 %
101
70
70%
28
28%
43
43%
35%
36%
57
56%
31%
31%
95
95
92Jfl
92 78
93%
93%
86%
36
86%
86%
28%
38%
48%
48%
77
78

W td.

T u ii.
24%
9 27J6
92%
98*10
5%
82%
ICO
94%
94%
136
45%
23%
165
30%
89
36%
70%
59
142%
121%
28
27
59
23%
46%
133%
30
73%
92
101%
69%
28%
43
35h
56%
31%
95
92%
93
35%
86%
28%
49%
78%

Thun . ! #rt.

34%
92%
92716
9615
5%
5%
81%
81*8
100
100
94^
94
96
96
135%
1353a
44%
45%
23
23%
164%
164*8
36%
37%
89
89
360*
35%
69%
69 7e
59
58%
141%
142
120%
120%
28%
28
27
27
58
58%
25
23%
47%
47%
132%
I32!fl
30
2 9%
73
73%
92
92
100
101
X 0 6%
69
27^8
2 7 7b
43
43
35%
35%
55%
5 5 7e
31
31
95
95
9 2%
92
93%
93
35
. 35%
85%
85%
2 8 %
28%
49%
4 9 %
79%
7 9 %

1067

25lie

9 2 l10
92% g
98 05
5%
80%
99%
J3%
96
134%
44%
23
163
36%
89
35
68%
57
141
119%
28 S»
26%
59
25
47%
132
29%
72%
92
99%

66

27
43
35%
55%

30%

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N a t io n a l B a n k s . — T h e f o l l o w i n g i n f o r m a t i o n regarding
national banks i s f r o m t h e T r e a s u r y D e p a r t m e n t .
NATION AL BANKS O R G A N IZ E D .

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* Deducted from July “ Miscellaneous” 1901.....
Received on account Central Pacific Indebtedness.

55

$482,895 98

\

D I V I D E N D S

Certificates Issued May 4 to M ay 9, 1908.
6.765— The Lowell National Bank. Lowell. Indlan7. Capital, $25,u o O . --------------- , President; P. A. Berg, Cashier.
6.766— The First National Bank of Willow City, North Dakota. Cap­
ital, $25,000. F. M. Rich, President; Emery Olmstead,
Cashier.
6.767— The Coldwater National Bank, Coldwater, Kansas. Capital,
$25,000. J. W Berryman, President; N. A. Lytle. Cashier.
6,708—The Citizens’ National Bank of Baker City, Oregon. Capital,
$100,000. William E. Grace, President; D. W. French,
Cashier. Conversion of Citizens’ Bank of baker City.
0,769—The First National Bank of Columbia. Kentuoky. Capital,
$25,000. John O. Russell, President; E. H. Hughes, Cashier.
6.770— The First National Bank of Elmore, Ohio. Capital, $^5,000.
Louts Frese, President; H. W. Nieman, Cashier.
6.771— The First National Bank of Logan, Iowa. Capital, $50,000.
John W. Wood, President; Wm. H. Wood, Cashier.
6.772—The First National Bank of Fountain, Colorado. Capital. $25,600. Gordon Jones, President; Clifton George Cashier.
6.773—The Washington National Bank of at. Louis, Missouri. Cap­
ital, $200,000. David Roeentreter, President; H. N. Tinker,
Cashier.
6.774— The Fort Dallas National Bank of Miami, Florida. Capital.
$100,000. William M. Brown, President; Chas. L. Hobbs,
Cashier.
6.775— The First National Bank of Blooming Prairie. Minnesota. Cap
ltal, $25,000. J. C. Krainerd, President; O. P. Rask, Cashier.
Conversion of the 8tate Bank of Blooming Prairie.
6.776—The First National Bank of aheloy, North Carolina. Capital.
$100.o0o. Charles Coleman Blanton, President; George
Blanton, Cashier
6.777— The Citizen’s National Bank of Roswell. New Mexico. Capital,
$50,000. Jno. W. Poe, President; Nathan Jalta, Cashier.
Conversion of the Citizens9 Bank of Roswell.

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y ji m e or C o m p a n y .

Rallroudn (Steam).
Atlantic Coast Line R R ., pref..............
Buftalo & Susquehanna, pref. (quar.)..
Catawlssa, pref. stocks...........................
Chestnut Hill (quar.)............................
Delaw. & Bound Brook, guar. (quar.)..
N. Y. N. H & Hartford (quar.)...........
Norfolk <fe Western, com........................
North Pennsylvania (qnar.).................
Phtla. Germantown & Norristown......
Pitts. Bessemer & Lake Erie, pref.......
N treet R a i l w a y s .

P«r W \ tn
Csnr P a ya b le
2%
1
2%
l*s
2
2
1%
2
3
3

May
.T’ne
May
J’u«
May
J’ne
J’ne
May
J’ne
J’ne

B o o k s C lo sed .
( D a y s I n c l u s i v e .)

10 Apr 30
1 May 17
19 May 1
4 Holders
20 Holders
30 Holders
19 Holders
25 Holders
4 Holders
1 Holders

to
May 10
J’ne 1
to
to
of rec. May 20
of rec. May 15
of rec. J’ne 13
of rec. J’ne 5
of reo. May 13
of reo. May 20
of reo. May 15

to
J’ne 14
American Railways, Phtla. (quar.)......
1% .T’ne 15 May 30
5 May 15 May 1
to
May 15
Tampa (Florida) Electric......................
MlieeUanaesii.
May 31
to
Adams Express....................................... 2 .T’ne 1 May 16
2 J’ne 1 May 16
to
May 31
do
do (extra)........................
to
American Cereal (quar.)........................ 8 May 30 May 21
1 Holders of reo. May 29
American Express.................................. 8 Ply
1 Holders of reo. May 29
do
do (extra)..................... 1 Ply
to
J’ne 2
2 J’ne 1 May 13
Barney A Smith Car. pref. (quar.)......
to
J’ne 1
Bntterick Co. (quar.) ........................... 1 J’ne 1 May 21
3 J’ne 15 Holders of rec. J’ne 1
Columbus Gas Light & Heat., pref......
to
.T’ne 12
Diamond Match (qnar )......................... 2% J’ne 12 May 30
May 20
to
Fay (J. A.) & Egan, com. (qnar.).......... 1% May 20 May 12
to
May 20
do
do
pref. (quar.).......... 1% May 20 May 12
2 J’ne 1 May 23
to
May 31
Kings. C o Elec L. <fc Power (quar.)__
Massachusetts Gas Cos., pref................ 2 J’ne 1 May 16
to
May 31
National Biscuit, com (quar.)..............
to
1 Ply 1ft J’ne 28
J’ly 36
May
29'May
16
do
do
pref (quar.).............
to
May 29
1%
National Rice Milling, pref................... 2 May 25 May 16
to
May 24
May 20
Pittsburgh Brewing, com (quar.)......
1% May 20 May 13
to
May 20
do
do
pref. (quar.)....... 1% May 20 May 13
to
Quaker Oats, pref. (quar.)....................
1 % May 30 May 21
to
LIQUIDATIONS.
Standard Oil (quar.)............................... $7 J’ne lfilHolders of reo. May 22
Va -Carolina Chemical, com. (quar.)... 1% J’ne 1 May 21
May 31
to
6 6 8 —The Pittsburgh National Bank of Commerce, Pittsburgh, Penn
'J’ne 16
to
J’ne 30
sylvanla, has gone Into voluntary liquidation by resolu’ lon Washington (D. O.) Gas Light.............. $20t 1......
of Its stockholders dated May 2, 1903, to take effect Imme­
t Payable in dividend certificates of Indebtedness.

diately.

A P P L I C A T I O N S TO C O N V E R T

INTO NAT IONAL B A N K S APPROVED.

A pproved A p ril 27 to May

6,

1903.

The State Bank of Bheldon, North Dakota, into The First National
Bank of Sheldon. North Dakota. Capital, $25,000. Blanks sent to
The Northern Trust Company, Fargo, North Dakota.
The Mankato State Bank. Mankato, Kansas, Into The Mankato
National Bank. Capital. $50,000.
Commercial Bank of Syracuse, New York, into Commercial Na­
tional Bank of Syraouse. Capital. $250,000. Blanks sent to Goodelle, Nottingham Brothers A Andrews, Syracuse, New York.
The State Bank of Tonawanda, North Ton*wanda. New York, into
The State National Bank of North Tunawanda. Capital, $200,000.
Blanks sent to James S. Thompson, North Tooawanda, New York.
G overnm ent R even u e

E x p e n d it u r e s .— T h r o u g h the
c o u rte sy o f th e S e c r e t a r y o f th e T r e a s u r y , w e a r e en abled to
and

p la c e b e fo r e o u r r e a d e r s t o -d a y th e d e t a ils o f G o v e r n m e n t
re c e ip ts a n d
d is b u r s e m e n t s f o r
th e m o n th
of
A p r il.
F r o m p r e v io u s r e tu r n s w e o b t a in t h e fig u r e s f o r p r e v io u s
m o n t h s , a n d in t h a t m a n n e r c o m p l e t e t h e s t a t e m e n t fo r
ten m o n th s o f th e fisc a l y e a r s 1902-0 3 a n d 1901-02.
For
statement o f A p ril , 1 9 0 2 , see C h r o n ic l e May 1 0, 1902,
page 969.

A u c t io n S a l e s — B y M essrs, A d r ia n H . M a ile r & S on :
S to c 's t
Stocks.
9 Leather M’n’f’ rs Nat. Bk.339%
ft N. Y. Life Ins A Tr. Co.. 1,200
50 Washington Trust C o ...440
138 Keyport A N. Y. Trans­

portation C o...$25 per share
5 The Amer. Knelpp Cure
Co., $^ each................. $1 lot
25 Amer Finance A Trust
Co (now American Fin.
A Securities O O ......... 100
100 Development Comp’y of
America, common........ 40
1,200 Tombstone Consol, 'j
Mines O . of Ariz.,
LnUted. $10 each.. I
$12,00<> Tombstone Con. ^$14,000
Mines Co of Ariz., I
Ltd., special con- '
traot 6s J&J......... J
15 Atlan. <feChar. Air L RR.154
7 Merch’ ts Exch. Nat. B’k..l72
50 Amerloan Soda Fountain
Co . 2d pref................... 21
50 Mechanics’ Nat. Bank...282
10 Central National Bank.. 170
20 Amerloan Surety Co...... 170

100Herring Hall-MarvinCo.,
common.........................
2
80 Her Hall Mar. Co , 2dpf. 6%
30 Chatham Nat. Bank....... 360%
5 Central Trn-t Co.............2,460
12 National Park Bank.......480%
283 Chlo Transf & C^ear. Co. 5
6 Mercantile Nat. B ^ k ...3 0 0 7$
10 National Bar k of North
A m e rica , $ ’ 00 e a c h . . . . 2 2 5

3 The Dayton C o................119
B^nds.

$3,000 Farmers’ Loan A Tr.
Co. re elpts for New Eng.
L. A Tr Co. of Dee Moines,
la., debentures,$l.00oea..$172
$2,000 Real Estate Tr Co. of
Phlla receipt for New Eng­
land Loau A Tr. Co of Des
Moines. Ta.. debentures__ $175
$8,000 Lehigh Power Co 1st
oollat. tr. 5b, 1930, J&D.

THE CHRONICLE

1068

New York City Clearing House Banks.—Statement of
condition for the week ending May 9, 1903, based on aver­
age of daily results. W e o m it tw o c ip h e r s ( 0 0 ) in a l l cases.
BANKS.

Bk. of N . Y .
M an liat. Co.
M e rch a n ts ’
M e c h a n ic s ’ .
A m e r i c a . .. .
P h o e n ix . . .
C i t y .............
C h em ica l . .
M e rcli. E x .
G a lla t in ___
B u t. & D r o v
M e cli.& T ra .
G r e e n w ic h .
L e a th .M fr s .
A m e r .E x c h .
C o m m e r c e ..
M e r c a n t ile .
P a c ific ..........
C h a th a m . . .
P e o p le ’ s . . .
X . A m e rica
H anover ...
I r v i n g ........
C itiz e n s’ . .
N a ss a u ___
M a r.& F u lt.
S h oe <fcLtlir.
C orn E x c h .
O rie n ta l . . .
Im p . & T ra d
P a r k ...........
E a s t R iv e r
F o u r t h ___
C e n tra l . . . .
S e co n d ___
F ir s t ..........
N .Y .N t .E x .
B ow ery . . .
N . Y . Co ...
G erm a n A m
C h a se...........
F ift h A v e ..
G erm an E x .
G erm a n ia ..
L in c o ln ........
G a r fie ld ___
F ift h ..........
B k . o f M e t ..
W e s t S id e ..
S ea b oa rd . .
1 st N .E k ly n
L ib e r t y ........
X . Y . P r. E x
X e w A m st.
A s t o r ..........
W e s t e r n .. ..

C a p ita l.

L oa n s.

S u rp lu s.

$
$
2 .411.2 1 7 .7 4 5 .0
2 ,000,0
2 .2 9 0 .0 1 9 .5 3 2 .0
2 .050.0
2,000,0
1 .300.4 1 2 ,8 6 1 ,6
2 .7 0 9 .0 1 3 .5 1 3 .0
2 ,000,0
1.500.0
3 .4 1 7 .8 2 0 .0 1 6 .3
4 .6 0 1 .0
1,000,0
316.0
2 5 .0 0 0 . 0 1 6 ,803,5 129,721,1
7 .409.3 2 4 .1 5 5 .3
300.0
5 .1 0 1 .3
333.9
600.0
7 .9 4 5 .4
1,000,0
2 .1 2 0 .5
2 .4 4 1 .5
104.5
300.0
3 .7 1 5 .0
346.7
700.0
521.7
2 .2 5 2 .6
500.0
4 .7 7 2 .1
600.0
547.2
5 .0 0 0 . 0 3 .9 1 8 .0 2 8 .2 6 2 .0
1 0 .0 0 0 . 0 8 ,3 1 5 ,2 7 0 .9 1 5 .9
3 .0 0 0 . 0 5 ,0 0 0 ,0 2 4 .3 5 5 .7
3 .4 5 1 .4
422,7
566.7
5 .6 8 2 .0
1 .0 4 7 .0
4 5 0 .0
2 .1 6 2 .5
200.0
384.5
2 .0 0 0 . 0 2 .0 4 7 .6 1 6 .7 7 3 .9
3 .0 0 0 . 0 6.339.1 4 5 .7 4 2 .8
6 .1 6 4 .0
1 .0 0 0 . 0 1 .0 4 5 .6
6 .7 1 6 .8
649.2
1 .550.0
2 .8 6 0 .3
500.0
310.5
6 .6 4 3 .6
9 0 0 .0
1 .0 6 3 .6
3 4 5 .0
5 .7 2 5 .5
1 ,000,0
2 ,0 0 0 ,0
3 .2 0 0 .2 2 5 .6 7 6 .0
4 .9 2 0 .9
600.0
82 0 .9
1 .500.0
6 .5 1 1 .9 2 2 .8 7 5 .0
3 .0 0 0 . 0 6 .6 4 3 .0 5 6 .0 3 4 .0
154.0
1 .1 5 0 .6
250.0
3 .0 0 0 . 0 2 .9 5 6 .2 1 8 .0 4 0 .6
9 .0 1 1 .0
592 .3
1 .0 0 0 . 0
9 .3 7 9 .0
300.0
1 .282.4
1 0,000,0 1 3 ,2 2 7 ,0 7 7 .545.1
6 .0 8 4 .4
385 .3
500.0
2 .8 3 5 .0
250.0
772.3
4 .2 1 7 .7
200.0
631.7
3 .4 6 3 .2
466 .4
750.0
1,000,0
3 .6 6 7 .6 3 8 .6 8 5 .9
100.0
1 .621.9
9 .5 6 7 .9
2 .930.1
2 0 0 ,0
64 1 .6
3 .4 5 1 .2
843.5
2 0 0 ,0
1 .249.1 1 0 .7 2 2 .4
300.0
1 ,000,0
7 .5 3 0 .9
1 .2 7 6 .9
250.0
2 .4 9 2 .4
3 7 0 .6
8 .452.2
1 ,000,0
1 .344.1
200.0
3 .2 6 5 .0
496 .8
500.0
1 .2 8 8 .5 1 2 ,2 4 1 ,0
300.0
4 .3 4 9 .0
5 5 6 .8
1 , 000,0
1 .8 7 3 .5 1 0 ,2 1 3 ,3
1 , 000,0
49 0 .5
4 .3 3 1 .2
500.0
6 .714.0
5 5 1 .6
350.0
523,3
4 .8 5 6 .0
1 0 ,0 0 0 ,0
3 .0 1 6 .7 5 8 .2 1 5 .6

S p ecie.

L eg a ls. \D ep osits R e­
s've.

$
2 .7 8 5 .0
4 .7 8 8 .0
2 .5 2 2 .5
2 .0 7 8 .0
3 .6 2 1 .7
90 7 .0
2 1 .6 2 5 ,4
4 .9 4 0 .8
891,7
9 2 6 ,6
590.5
4 1 8 .0
22 7 .9
9 8 4 .0
2 .7 8 5 .0
9 .893.5
4 .1 8 7 .2
3 8 5 .0
6 4 6 ,4
2 2 9 .6
1 .7 8 9 .8
9 .1 1 0 .7
83 9 .3
1 .5 0 9 .0
304.9
1 .002.2
1.560.1
4 .7 7 8 .0
30 2 .3
3 .5 4 5 .0
1 5 ,3 1 1 .0
150.7
2 ,6 2 0 ,4
2 .5 4 0 .0
1 .3 1 3 .0
1 6 ,205,3
1.185.1
36 7 .0
7 7 3 .4
6 0 2 .8
9 .8 8 0 .3
2 .4 7 0 .7

220.0

41 3 .4
556.9
1 .702.3
515.9
1.377.1
477 .0
2 .1 3 4 .0
467 .0
1 .948.7
851 ,6
1.271.1
871 .0
1 2 ,6 5 0 ,9

P .C .
$
1 .461.0 1 6 .350.0 25*9
2 .0 7 8 .0 2 3 .0 9 9 .0 29*7
1 .124.7 1 4 .459.8 25*2
1 .389.0 1 3 .6 8 4 .0 25*2
2 .027.6 2 1 .9 7 1 .0 2 5 7
4 .4 4 4 .0 2 6 8
2 8 5 .0
6 .4 8 3 .0 112,319,5 252 ,1 1 8 ,9 2 4 .0 6 8 .3 29*3
5 .4 3 9 .4 26*4
54 7 .6
592.2
5 .6 7 1 .8 262 .9 1 6 .9 21*6
4 0,0
3 .8 2 5 .0 19*9
34 5 .0
1 .614.4 24*2
16 2 .4
177.2
4.613.1 25*1
2 .2 2 4 .0 2 0 .7 8 7 .0 24*0
4 .2 5 1 .8 56.680.1 2 4 9
1 .2 2 3 .0 2 1 .3 5 0 .0 25*3
430.3
4 .1 5 9 .3 19*5
851.1
5 .619.1 2 6 6
2 .5 3 0 .0 25*2
4 0 8 .3
1 ,382,2 13.308.1 23*8
6.552.1 5 5 .108.4 28*4
5 .3 4 5 .0 24-4
467 .8
402.9
7.669.1 24*9
409 .9
3 .285.2 21*7
6 .893.9 2 4 695.3
152.3
6 .753.4 25*3
3 .0 9 6 .0 3 0 .7 4 6 .0 2 5- 6
641.3
4.432.7 21-2
1 .314.0 1 9 .8 7 5 .0 243 .9 9 7 .0 6 5 .6 0 6 .0 29*4
201.2
1.291.3 27*2
2 .9 3 3 .0 1 9 .9 0 4 .3 27*9
94 8 .0 1 1 .307.0 30*8
1 .3 6 2 .0 1 0 .4 5 5 .0 25- 5
1 .892.0 6 6 .3 7 6 .8 27*2
464.2
6 .1 3 4 .6 26*8
301 .0
3 .2 2 0 .0 20 7
38 6 .7
4 .8 4 8 .8 23247 .6
3 .355.2 2 51 .8 7 7 .8 4 5 .7 3 4 .9 25*7
287.5 1 0 ,5 9 5 ,8 2 6710 .0
3 .5 5 0 .3 26-1
4 9 5 .0
4 .8 8 8 .7 18*5
2 .3 7 7 .9 1 1 .9 1 6 .0 2 4 319.3
7 .8 0 5 .9 25*9
129.9
2 .5 5 8 .4 25*2
845.1
9.657.1 23357 .0
3 .3 6 1 .0 241 .508.0 1 4 .0 8 7 .0 2556 4 .0
4 .3 9 7 .0 23-4
335 .0
8 .847.5 25-8
280 .7
4 .288.5 26*3
61 6 .4
7 .4 5 6 .8 25*3
3 2 2 .0
4 .9 7 0 .0 24*0
2 .8 4 4 .6 6 0 .2 0 2 .3 25*7

T o ta l . . . 109,822,7 129,1 8 1 ,3 9 2 3 ,0 8 0 ,2 1 6 9 ,0 5 1 ,7 6 9 ,9 3 6 ,8 19158347 26*0
t T o ta l U n ite d S ta te s d e p o s its in c lu d e d $ 3 7 ,2 4 8 ,8 0 0 .

Reports of Non-Member Banks.—Tlie following is the
statement of condition of the non-member banks for the
week ending May 9, 1903, based on average of daily results.
W e o m it tw o c ip h e r s ( 0 0 ) in a l l cases.
BANKS.
00 s om itted .

C a p i­
ta l.

S u r­
p lu s .

D e p o s it w ith
L oans &
L eg. T.
N et
S
p
ecie.
I n v e s t­
& B a n k C lear' g O ther D eposits
m en ts.
N otes. A g en t. B k s.& c

N . Y . CITY.
B orou gh s of
Ila n d sB r'n x
$
C o lo n ia l. . . .
100,0
C olu m b ia . .
300,0
14th S tre e t.
100,0
G a n se v o o rt.
200,0
H a m ilto n . .
200,0
M t. M o rris
250,0
M u t u a l ___
200,0
1 9 th W a rd .
200,0
P la z a ........ .
100,0
R iv e r s id e . .
100,0
S ta te .........
100,0
1 2 tli W a r d .
200.0
23d W a rd ..
100,0
Y o r k v ille . .
100,0
F id e lity . . . .
200,0
V an ck ....
100,0
J e ffe rso n . .
400,0
C e n tu ry . . .
100,0
W a sh . H g ts
100,0
U n ite d N at. 1,000,0

$
194,1
25 6 ,0
98 ,0
55,7
11 1 ,0
116,2
184,4
185,3
234,3
106,8
4 2 1 ,4
88,7
88,7
25 3 ,6
107,1
59 ,8
2 2 5 ,S
52,9
112,3
223,2

2 ,3 8 5 ,0
3 ,1 0 3 ,0
1,781,5
1 ,5 6 7 ,5
2 ,1 7 9 ,4
2 ,482,7
2 ,1 8 7 ,2
1,570,4
3 ,1 3 0 ,0
1 ,095,5
6 ,3 3 8 ,0
1 ,506,0
1,401,0
1 ,8 2 1 ,2
697,3
774,5
1,821,2
330,1
541,0
2 ,2 0 2 ,5

$
41 ,4
195,0
84,3
26,1
121,9
14 9 ,2
31,8
21,8
18 2 ,0
10,9
3 0 8 ,0
3 5,0
32,1
3 4,6
9,8
4,8
12,5
2,7
9,2
2 2 8 ,0

$
195,5
11 5 ,0
77,6
92,9
112,5
86 ,0
16 0 ,4
129,7
16 8 ,0
7 4 ,8
30 4 ,0
175,0
124,1
2 0 5 ,4
43,7
59,2
80,1
11,2
16,7
45 ,4

B o r o u g h of
B r o o k ly n .
B ro a d w a y .
B r o o k ly n . .
8 th W a r d ...
M fr s .’ N a t ..
M e ch a n ics ’
M e rch a n ts ’ .
N a ss a u N at
N a t. C ity . .
N o r t h S id e.
P e o p le s ........
1 7 th W a rd .
S p ra g u e N a t
U n io n ...........
W a lla b o u t .

112,0
300.0
100,0
252,0
500,0
100,0
300,0
300,0
100,0
100,0
100,0
200,0
200,0
100,0

229,3
164,0
20,0
514,5
356,9
40,1
633,5
580,7
161,4
155,3
80,3
264,4
117,9
67,0

1 ,9 3 6 ,4
1,524,1
386,2
3 ,1 2 5 ,0
7 ,5 3 0 ,0
85 7 ,9
4 ,1 1 6 ,0
3 ,1 3 9 ,0
98 1 ,8
1 ,3 6 3 ,8
649.3
1 ,057,8
1 ,3 5 3 ,8
78 8 ,0

12,9
111,4
4,5
331,5
155,1
15,0
18 6 ,0
131,0
10,6
56,3
8,1
97,3
43,7
34,9

155,5
27 5 ,4
62,6
195,8
31,3
38,2
65,9
494,1
3 6 6 ,0 1,047,8
45 ,4
98,6
35 0 ,0
693 ,0
2 4 6 ,0
56 3 ,0
61,6
4 2 ,4
118,1
6 2,6
47,7
67,7
123,3
2,1
87 ,4
71,3
25,7
37,1

B o r o u g h of
R ich m o n d .
B k . o f St. Is.
l8 t N a t .,S .I .

25,0
100,0

74,7
103,8

555,0
74 9 ,0

17,4
30,2

400,0 1,031,9

4,515,1

2 5 0 ,8

O th er Cities.
1 st N t., J. C.
H u d s o n Co.
N a t., J. C.
2 d N a t., J.C .
3d N a t., J.C.
1st N t., H o b
2d N a t.,H o b

250,-0
250,0
200,0
110,0
125.0

63 1 ,8
289,2
271,9
50 6 ,4
140,0

to

2 ,3 2 4 ,4
1 ,131,9
1,076.4
2 ,4 0 3 ,9
1 ,0 1 1 ,0

83 ,4
6 2,8
46,1
133,9
39,5

15,0
10,0

$
257,5
167,0
321 ,8
25,2
177,6
211 ,4
132 ,2
380,7
3 0 4 ,0
7 0,8
8 4,0
119 ,0
147,6
98,1
54,5
94 ,1
197,7
27,2
29,7
42,3

74 .9
109,1

$
150,0
• 3,0
6,0
5,0
53,9
1 7,8
91,5
41 0 ,0
31 ,9
1,8
42,1
56,7
2,0
..........

96,2
3 7,0
25,0
10,0
17j0
115 ,0
124,3
65,9
13,7
2 2,0
114,3
43 ,4

$
2 ,6 9 6 ,0
3 ,1 4 0 ,0
2 ,108,1
1 ,643,5
2 ,3 6 4 ,8
3 ,0 4 2 ,3
2 ,2 1 7 ,5
1 ,8 8 8 ,2
3 ,4 9 5 ,0
1 ,1 6 1 ,4
7 ,0 1 4 ,0
1 ,880,0
1 ,636,5
1 ,8 6 4 ,2
6 6 7 ,8
8 3 5 ,3
1 ,7 4 0 ,4
'2 3 3 ,9
3 8 0 ,6
1 ,2 4 8 ,9

2 ,0 4 2 ,0
1,689,7
4 5 0 ,4
3 ,640,7
9 ,1 8 9 ,6
93 7 ,8
4 ,6 4 2 ,0
3 ,6 3 0 ,0
97 9 ,9
1 ,4 8 1 ,0
623’5
9 3 8 ,0
1 ,3 5 3 ,3
75 8 ,6

12,0

590,4
69 6 ,0

275,1 1,215,7 1,014,1

6 ,1 7 1 ,6

65,5
13,1
62,7
26 ,6
45 ,3

319,5
166,4
3 2 3 ,4
119,1
85,5

55,0
10,2
8,8
14.0
50,9

2 ,0 5 8 ,0
9 7 1 ,8
1 ,2 8 9 ,4
2 ,137,3
1 ,141,8

T o t. M ay 9 8 ,374,0 9 ,610.3 8 1 .4 9 0 ,8 3 ,4 1 1 ,8 4 ,4 5 5 .8 9,166,3 2 ,720,5 8 8 ,6 7 1 ,2
T o t. M ay 2 8 ,374,0 9,610,3 80.499.1 3 .5 1 8 ,4 4 ,368.9 9.170.2 2,736,7 8 8 ,5 9 2 ,0
T o t. A p r 25 8,374,U|9,610,3 >79,333,4 3 ,604,8 4 ,4 1 6 ,8 8,052,5 2,440,0 8 5 ,6 8 2 ,4

[V o l . L X X V I .

New York City, Boston and Philadelphia Banks.—Below
is a summary of the weekly returns of the Clearing House
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.
W e o m it tw o c ip h e r s ( 0 0 ) in a l l these figures.
C a p ita l &
BANKS S u rp lu s.
N. Y .
A p r 18
A pr 25
M av 2
M ay 9
B os.
A pr25
M2ay 2
M ay 9
P h il a .
A7p r 25
M ay 2
M ay 9

D e­
p osits. t

C ircu ­
la tion .

C lea rin g s.

$
8 8 7.290.2
8 8 7.603.3
9 0 5,760,2
9 1 5 ,8 3 4 ,7

$
43.495.0
43.538.0
43.586.0
43,948,9

$
1,453,074,1
1.311.282.4
1 .3 7 8 .9 M .6
1.280.882.5

6.409.0 2 0 5.726.0
6.384.0 20 8 .2 2 7 .0
9 .2 6 1 .0 2 08.305.0

6.534.0
6.454.0
6.478.0

12 4 .0 7 2 .6
140.188.6
1 3 4 ,7 3 3 ,5

L oa n s.

S pecie.

L ega ls.

$
9 0 5 ,2 0 7 ,3
900.6 2 5 .1
9 1 4 .0 7 9 .0
9 2 3 .0 8 0 .2

$
160,972,5
164,275,1
167,438,3
169,051,7

66.857.7
68,611,2
7 0,183,6
69.936.8

5 2 .322.0 183.7 8 8 .0
5 2 .322.0 184.8 2 7 .0
5 2 .322.0 186.3 1 9 .0

1 7 .242.0
1 6 .644.0
1 7 ,0 0 0 ,0

$
236.489,2
239.0 0 4 .0
2 3 9 .0 0 4 .0
2 3 9 .0 0 4 .0

4 4 .7 6 4 .0 1 8 1 .6 0 4 .0
4 4 .7 6 4 .0 185.1 1 2 .0
4 4 .7 6 4 .0 1 8 6 .8 8 2 .0

to

54,8$ *1 ,0
6 3 ,6(36.0
53,9^ 10.0

213.230.0
2 1 2.728.0
21 3 .3 2 4 .0

9 .811.0
9 .947.0
9 .982.0

1 20,453,1
1 1 4 ,7 3 2 ,8
1 14.027,3
t I n c lu d in g fo r B o s to n and P h ila d e lp h ia th e ite m “ du e t o o t h e r b a n k s,”
an d a lso G o v e r n m e n t d e p osits.
F o r B o s to n th e se G o v e rn m e n t d e p o sits
a m ou n ted on M a y 9 to $ 6 ,3 1 7 ,0 0 0 ; o n M a y 2 to $ 6 ,2 9 5 ,0 0 0 .

Imports and Exports for the Week.—The following are
the imports at New York for the week ending for dry goods
May 7, and for the week ending for general merchandise
May 8 ; also totals since beginning first week January.
F O R E IG N IM P O R T S ,

6
F o r w eek.

1903.

1902.

1901.

1900.

D r y G o o d s......................
G4e n e ra l M e rch a n d ise

$ 1 ,8 1 2 ,1 2 8
8,492,191

$ 2 ,062,651
8 ,226,771

$ 1 ,7 7 0 ,0 8 0
10 ,8 2 0 ,7 5 2

$ 1 ,8 2 3 ,0 3 6
8,4 7 9 ,1 3 1

T o t a l ............................
S in ce Jan. 1,
D r y G o o d s......................
G e n e ra l M e rch a n d ise

$ 1 0 ,3 0 4 ,3 1 9

$ 1 0 ,2 8 9 ,4 2 2

$ 1 2 ,5 9 0 ,8 3 2

$ 1 0 ,3 0 2 ,1 6 7

$ 5 7 ,1 1 3 ,8 6 4
1 7 5 ,5 7 4 ,9 0 4

$ 4 9 ,7 3 5 ,3 0 2
1 5 9 ,8 0 7 ,2 9 4

$ 4 2 ,0 6 1 ,6 9 3
1 6 7 ,4 4 2 ,4 8 6

$ 5 2 ,8 0 2 ,4 5 2
1 6 4 ,083,210

T o ta l 19 w e e k s ......... $ 2 3 2 ,6 8 8 ,7 6 8 $ 2 0 9 ,5 4 2 ,5 9 6 $ 2 0 9 ,5 0 4 ,1 7 9 $ 2 1 6 ,8 8 5 ,6 6 2
9 The imports of dry goods for one week later will be found
3
in
our report of the dry goods trade.
0 The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week
ending May 1 1 , and from January 1 to date.
6
EXPO R TS FROM X E W Y O R K FOR T H E W E E K .
0
1903.
1902.
1901.
1900.
8
8
F o r th e 'w e e k ................
$ 9 ,2 1 5 ,1 9 4
$9 ,2 4 7 ,1 6 2 $ 1 2 ,9 9 0 ,4 1 9 $ 1 1 ,1 5 4 ,4 7 4
P r e v io u s ly r e p o r t e d .. 1 8 1 ,0 4 4 ,2 9 8 16 9 ,8 2 0 ,3 0 8 18 2 ,8 0 5 ,0 6 4 186,635,511
T o ta l 19 w e e k s ......... $ 1 9 0 ,2 5 9 ,4 9 2 $ 1 7 9 ,0 6 7 ,4 7 0 $ 1 9 5 ,7 9 5 ,4 8 3 $ 1 9 7 ,7 8 9 ,9 8 5
N o t e .—A s th e fig u r e s o f e x p o r ts as re p o r te d b y th e X e w Y o r k C u stom
H o u s e fr o m w e e k to w e e k fr e q u e n tly sh o w d iv e r g e n c e fro m th e m o n th ly
tota ls, also co m p ile d b y th e C u stom H o u s e , w e sh a ll fr o m tim e to tim e a d ju s t
th e to ta ls b y a d d in g to o r d e d u c tin g fro m th e a m o u n t “ p r e v io u s ly r e p o r te d .”

The following table shows the exports and imports of
specie at the port of New York for the week ending May 9
and since Jan. 1,1903, and for the corresponding periods in
1902 and 1901.
E X P O R T S A N D IM P O R T S O F S P E C IE A T X E W Y O R K
E xports.
G o flL

W eek.

G r e a t B r it a i n ........ ..........
F r a n c e ............. ...................
G e r m a n y ............. i ............
W e s t I n d ie s ........ .............
M e x ic o .................................
S ou th A m e r ic a .................
A ll o th e r c o u n t r ie s ........
T o ta l 1 9 0 3 ...................
T o ta l 1 9 0 2 ...................
T o ta l 1 9 0 1 ................. ;
S il v e r .
G re a t B r ita in ___________
F r a n c e ................................
G e rm a n y ............................
W e s t I n d i e s .....................
M e x i c o ...............................
S o u th A m e r ic a ................
A U o th e r c o u n t r ie s .........

I m ports.

S in ce J a n . 1.

W eek.

S in ce Ja n . 1.

$ 5 0 5 ,0 0 0

$ 5 0 5 ,0 0 0

$ 1 9 3 ,0 0 0

$ 2 ,4 2 3 ,1 1 5

4 1 1 ,2 0 0
2,000
5 0 2 ,0 0 0
10,000

1 ,5 0 1 ,6 0 4
12,280
2,4 3 0 ,8 5 5
10,300

1,653
2 ,4 1 0
10,023

9 2 ,4 1 4
7 6 ,1 4 4
2 1 9 ,6 5 4
27 .2 2 8

$ 1 ,4 3 0 ,2 0 0
2,750
76 0 ,5 0 0

$ 4 ,4 6 0 ,0 3 9
1G,S52,501
15,742,951

$ 2 0 7 ,0 8 6
2,982
2 4 ,1 0 4

$ 2 ,8 3 8 ,5 5 5
1 ,075,732
96 2 ,8 3 6

$ 5 1 9 ,9 2 0 $ 1 2 ,0 0 1 ,2 3 0
3 5 ,5 9 0
74 3 ,5 8 4
600
9 5 ,4 3 0
450

$ 1 5 ,7 8 2
4 5 3 ,5 6 5
1 4 ,2 6 6
2 ,7 0 0

$ 4 2 ,3 2 0
1,210

T o ta l 1 9 0 3 ...................
T o ta l 1 9 0 2 ...................
T o ta l 1 9 0 1 ...................

$ 6 5 5 ,9 6 0 $ 1 2 ,8 4 2 ,0 5 4
5 5 5 ,7 5 0
13 ,9 7 9 ,3 8 6
44 1 .5 0 0
2 0 ,0 4 5 ,1 3 6

$ 4 2 ,3 2 0
12,964
7 1 ,0 9 0

$ 4 8 6 ,3 1 8
4 6 1 ,0 7 1
1 ,3 6 4 ,7 0 4

Of the above imports for the week in 1903, $1,653 were
American gold coin. Of the exports during the same time
$504,000 were American gold coin.
Auction Sales.—See page preceding.

R a n k in g and Ifin a u c ia l.

Spencer

Trask

&

Co.,

BANKERS,
W IL X IA in

<fc P I X E

STR E E TS,

-

-

N E W

Y O R K *

T ra n sa ct a general banking business; act as Fiscal
Agents for corporations, and negotiate security
issues of railroads and other companies. Execute
commission orders and deal in
INVESTMENT SECURITIES.
M em bers N. Y . S tock E xchan ge.
M

o

f

f

a

t

M em bers N ew

'

B ranch Office, 65 s ta t e St., A lb a n y
&

W

h

i

t

e

,

Y o rk S to ck E xch an ge,

1 NASSAU STREET, CORNER W A L L ,

Dealers in Investment Securities.
T el. 5820-5821 C ortlandt.

T e le p h o n e S t o c k s a S p e c ia lt y *

THE

Ma y 16, 1903.J

CHRONICLE.

H auliers' © a lette.

$ 1 0 ,0 0 0 4s r e g , 1925, a t 136.
T h e f o ll o w in g a re c lo s in g q u o ­
t a t io n s : f o r yearly range th ird p a g e follow in g ,

F o r D i v i d e n d s s e e p a g e icrjS.

In te rest
P er io d s

W A L L S T ttE K T . F R I D A Y , M A Y 1 3 , I R 0 3 .-3

F . HI.

T h e M o n e y M a r k e t a n d F i n a n c i a l S i t u a t i o n .— T h e r e h as
b e e n fa r t h e r d e p r e s s io n in th e s e c u r it y m a r k e ts t h is w e e k ,
b o th as to v o lu m e o f b u s in e s s a n d r a n g e o f p r ic e s.
The
fe e lin g o f c a u tio n a n d in d iffe r e n c e t h a t fo r s o m e tim e p a st
h a s p r e v a ile d in W a l l S t r e e t h a s b e e n e n h a n c e d b y v a r io u s
c a u se s.
A m o n g t h e m p e rh a p s g o ld e x p o r t s , w h ic h fo r th e
w e e k a m o u n t to $ 2 ,7 5 0 ,0 0 0 , h a s h a d s o m e in flu e n c e ; n o
d o u b t th e r a th e r w ild s p e c u la tio n in c o t t o n h a s le d t o m o r e
o r le ss a n x ie t y a s t o th e o u t c o m e .
I n th e N e w Y o r k m a r k e t
sp o t c o t t o n h a s s o ld a t l l ’ GOc., th e h ig h e s t p r ic e s in c e 1890,
e x c e p t o n th e o c c a s io n o f th e J a n u a r y c o r n e r in 1901.
T h e la b o r s itu a tio n , w h ile le ss a c u t e in s o m e lo c a lit ie s
t h a n o f la te ( n o t a b ly in th e N o r t h w e s t , w h e r e t h e t h r e a t ­
e n e d G r e a t N o r th e r n s tr ik e h as b een a v e r t e d ) , is s e r io u s ly
in t e r f e r in g w it h m a n y in d u s t r ia l e n te r p r is e s a n d c o n t in u e s
t o b e a m e n a c e to t h e g e n e r a l p r o s p e r ity o f th e c o u n t r y — a
f a c t o f w h ic h in v e s to r s a re n o t u n m in d fu l.
T h e o p en m a r k e t r a te s fo r c a ll lo a n s o n t h e S t o c k E x c h a n g e
d u r in g th e w e e k o n s t o c k a n d b o n d c o lla t e r a ls h a v e r a n g e d
fr o m 2 to 2 % p e r c e n t .
T o -d a y ’s r a te s o n c a l l w e r e 2 to
2 % per c e n t .
P r im e c o m m e r c ia l p a p e r q u o t e d a t 4 % to
5 % per c e n t.
T h e B a n k o f E n g la n d w e e k ly s t a t e m e n t o n T h u r s d a y
s h o w e d a n in c r e a s e in b u llio n o f £ 1 6 ,8 0 0 , a n d t h e p e r c e n t ­
a g e o f r e s e r v e t o l ia b ilit ie s w a s 3 7 '3 5 , a g a in s t 52*17 la s t w e e k ,
th e d is c o u n t r a t e r e m a in in g u n c h a n g e d a t 4 p e r c e n t .
Tbe
B a n k o f F r a n c e s h o w s a d e c r e a s e o f 8 ,3 7 5 ,0 0 0 f r a n c s tc
g o ld a n d a n in c r e a s e o f 7 5 0 ,0 0 0 f r a n c s in s ilv e r .
NEW YO RK CITY OLBARING-HOU8B BANKS.
1903
M ay 9

C ap ital.....................
S u r p lu s ...................
Loans A d is c o u n ts
Circulation.............
N et d eposits..........
S p ecie.......................
Legal tenders........

$
1 0 9 .82 2 .7 0 0
1 2 9 ,1 8 1 ,3 0 0
9 2 3 ,0 8 0 .2 0 0
4 8,9 4 8 ,9 0 0
*9 15 ,83 4 ,7 0 0
1 69 .05 1 .7 0 0
6 9,9 3 6 ,8 0 0

1069

D iffer en c es
fr o m
p r e v io u s w e ek
9
I n o 9 ,0 0 1 ,2 0 0
In c
362 ,90 0
I n c 1 0,0 7 4 ,6 0 0
I n o 1 ,6 1 3,40 0
D eo
2 4 6 ,8 0 0

1903
M a y 10

1901
M a y 11

9
8 3 ,6 2 2 ,7 0 0
1 0 8 ,6 5 5 ,7 0 0
9 0 1 ,9 3 8 ,0 0 0
3 1,2 2 9 ,6 0 0
9 6 0 ,2 3 5 ,6 0 0
1 7 0 ,4 9 0 ,4 0 0
7 3 ,0 2 9 ,5 0 0

$
7 6,0 8 9 ,3 0 0
9 6,9 2 7 ,4 0 0
8 97 .71 6 .9 0 0
3 1,0 8 1 ,1 0 0
9 7 7 .4 9 0 .9 0 0
1 79 ,76 0 ,7 0 0
7 2 ,7 39 ,5 0 0

Reserve Held..........
35 p. o. o f d ep osits

2 3 8 ,9 8 8 ,5 0 0 I n o
2 2 8 .9 5 8 ,6 7 5 I n o

1 ,3 6 6,60 0
2 ,5 1 8,62 5

2 4 3 .5 1 9 .9 0 0
2 4 0 .0 6 8 .9 0 0

2 52 ,50 0 ,2 0 0
2 44 ,37 2 ,7 2 5

Surplus r e s e r v e

1 0,0 2 9 ,8 2 5 D eo

1 ,1 5 2,02 5

3 ,4 6 1 ,0 0 0

8,1 2 7,47 5

• $ 3 7 ,2 4 8 ,8 0 0 U n it e d S ta te s d e p o s its ln o ln d e d , a g a in s t $ 3 7 ,2 6 8 ,4 0 0 la st
week. W it h th ese U n ite d S ta tes d e p o sits e lim in a te d , th e s u r p lu s r e s e r v e
w o u ld h e $ 1 9 ,3 4 2 ,0 2 5 o n M a y 9 a n d $ 2 0 ,4 9 8 ,9 8 0 o n M a y 2.
N O T !.— R e tu r n s o t s e p a ra te h a n k s a p p ea r o n th e p r e c e d in g p a g e.

F oreig n E xch a n g e. — T h e fo r e ig n e x c h a n g e m a r k e t w a s
q u ie t a n d fir m t h is w e e k a n d o th e r w is e w i t h o u t s p e c ia l
fe a tu r e .
S h ip m e n ts o f g o ld w e r e $ 1 ,5 0 0 ,0 0 0 t o P a r is a n d
$ 1 ,2 5 0 ,0 0 0 t o B u e n o s A y r e s .
T o -d a y ’s ( F r i d a y ’s ) n o m in a l r a te s fo r s t e r lin g e x c h a n g e
w ere
4 8 5 % fo r s i x t y d a y a n d 4 8 8 % fo r s ig h t ,
To­
d a y ’s (F r i d a y ’s ) a c t u a l r a te s fo r s t e r lin g e x c h a n g e w e r e
4 8 4 9 0 @ 4 85 fo r lo n g , 4 8 7 9 0 @ 4 88 fo r s h o r t a n d 4 8 8 4 0 @
4 8850 fo r c a b le s . C o m m e r c ia l o n b a n k s , 4 8 4 % @ 4 8 4 % , a n d
d o c u m e n t s f o r p a y m e n t , 4 8 4 @ 4 85.
C o t t o n fo r p a y m e n t ,
484@4 8 4 % ; c o t t o n fo r a c c e p t a n c e , 4 8 4 % @4 8 4 % , a n d g r a in
fo r p a y m e n t , 4 8 4 % @ 4 85.
T o -d a y ’s (F r i d a y ’s ) a c t u a l r a t e s fo r P a r is b a n k e r s ’ fr a n c s
w e r e 5 1 8 % * @ 5 1 8 % fo r lo n g a n d 5 1 5 % f @ 5 1 5 % fo r sh o r t.
G e r m a n y b a n k e r s ’ m a r k s w e r e 94 1 3 -1 6 @ 9 4 % fo r lo n g a n d
9 5 % f @ 9 5 % fo r s h o r t.
A m s t e r d a m b a n k e r s ’ g u ild e r s w e r e
4 0 @ 4 0 1 -1 6 fo r lo n g a n d 4 0 ,8 2 @ 4 0 ,35 fo r s h o r t.
E x c h a n g e a t P a r is o n L o n d o n t o -d a y , 2 5 f . 17 c . ; w e e k ’s
r a n g e , 2 5 f . 1 7 % c . h ig h a n d 25 f . 16 c . lo w .
T h e w e e k ’s r a n g e fo r e x c h a n g e r a t e s fo ll o w s :
-------------L on g .------------, ,---------- S k o r t ---------- ,
S te rlin g A c tu a l—
4 8510 1 4 88
a 4 8810
H i g h . . . |4 85
llO W ____ 1 4 8490
4 8790 a 4 88
3 4 85
S
P a r is B a n k ers’ F ra n cs—
a s 15%
H i g h ... |518^* -3 5 1818 ! 5 15 V
| 5 15*8* a s i5%t
L o w .... |5 18%» a 5 i8i*
G erm a n y B a n k e r s ’ M a r k s —
95V a 95 %
a 9478 i
H i g h . . . 11 94V
L ow — | 941318 a 947s
1
95% a 95%t
A m s te r d a m B a n k e r # G u ild ers—
H i g h . . . 1I 40
a
40iia 1 40-32 a 40-35
a 4on
| 40-28 a 40-31
L o w .... 11 40
1 * 8 8 : * h a O f 1 % . t 18J o f 1 % . t *81 o f 1 % .

,---------- C ables.----------4 8 860
4 884 0

4 8 87 0
4 885 0

P l u s : H l i e O f 1 % . • * 13* O f 1 % .

T h e f o ll o w in g w e r e t h e r a t e s f o r d o m e s t io e x o h a n g e on
N e w Y o r k a t t h e u n d e r -m e n t io n e d o it ie s t o - d a y : S a v a n n a h ,
b u y i n g 5 0 c . p e r $ 1 ,0 0 0 d is c o u n t , s e l l i n g 7 5 c . p e r $ 1 ,0 0 0
p r e m i u m ; C h a r le s t o n , b u y i n g p a r , s e l li n g $1 p e r $ 1 ,0 0 0
p r e m i u m ; N e w O r le a n s , b a n k , 7 0 @ 6 5 o . p e r $ 1 ,0 0 0 d is c o u n t;
c o m m e r c i a l , 9 0 c . p e r $ 1 ,0 0 0 d i s c o u n t ; C h ic a g o , 25 c. per
$ 1 ,0 0 0 p r e m iu m ; S t . L o u is , 2 0 c . p e r $ 1 ,0 0 0 p r e m iu m ; S a n
F r a n o is o o , 2 c . p e r $ 1 00 p r e m iu m .

S tate and R a ilro a d B on d s.— S a le s o f S t a t e b o n d s a t t h e
B o a r d a re l im it e d t o $ 6 ,0 0 0 T e n n e s s e e s e t t le m e n t 3s a t 96.
T h e r e is n o im p o r t a n t c h a n g e to n o t e in t h e m a r k e t fo r
r a ilw a y b o n d s .
T r a n s a c t io n s h a v e b e e n o n a lit t l e la r g e r
s c a le t h a n la s t w e e k a n d w e r e b e t te r d is t r ib u t e d .
A fe w
issu es h a v e a d v a n c e d in s y m p a t h y w it h sh a r e s o f th e s a m e
c o m p a n ie s .
W a b a s h d e b e n tu r e s h a v e b e e n b y f a r th e m o s t
a c t iv e b o n d s a n d s h o w a s u b s t a n t ia l g a i n in p r ic e .
U nited S tates B on d s. — S a le s o f G o v e r n m e n t b o n d s at
th e B o a r d in c lu d e $ 1 1 ,6 0 0 3s, c o u p ., a t 107 t o 1 0 7 % ; $ 1 ,0 0 0 3s,
l e g . , a t 1 0 7 % ; $ 1 1 ,0 0 0 4s, r e g ., 19 07 , a t 1 1 0 % to 11 1; a n d

1 9 3 0 ............. r e g is te re d
1 9 3 0 ...........
1930 .s m a -l.r e g lste re d
193 0 .sm all ___ o o u p o n
1 9 1 8 ............. r e g is te r e d
1 9 1 8 .............
1918, sm all.regtH tarcd
3e, 1918, em ail ___ co u p o n
4s, 1 0 0 7 ............. r e g is te re d
4s, 1 9 0 7 ............. . . . oo u p o n
48, 1 9 2 5 ............. r e g is te re d
48, 1 9 2 5 .............
5s, 1 9 0 4 ............. r e g is te re d
5 8 .1 9 0 4 .............
2 b,
28,
2s,
2s,
3 b,
38,

M ay
9

Q —Jan *106
Q —Jan *106
. . . . .. ..

Q —F e b
Q —F e b
Q —Feb
Q -F e b
Q —Jan
Q —Jan
Q —F e b
Q — F eb
Q — F eb
Q -F e b

M ay
11
*106
‘ 100

...... __
...... .....

M ay
13
*100
*100

__

M ay
13

M ay
Id

M ay
15

*105*4 *105*4 ‘ 105*4
*105*4 *106*4 *106*4

*107 q * 107*4 *107*4 "107*4 *107*4 107*4
” 1071* * 107

'107*4 *107*,

*10018
'1 1 0 %
•110*4
*135*4
*135*4
*102 “a
‘ 102 >8

*106*8
*110*4
*110*4
*135*4
*136*4
*102*8
*102*8

__ __

*106
*110*4
*110*4
*136*4
*136*4
*102*8
• 1 0 2 1*

__

107%

107*4

__T

* io e s
*110*4
*110*.
*136*4
*135»«
*102*8
*102*8

*100*8
110*4
*110*4
*136*4
*136*4
*102*8
•102*8

*106*8
•110*4
*110*4
*135*4
*136*4
*102*8
•102*8

- T h is la th e p r ic e b id a t th e m o r n in g h oa rd ; n o sa l* w aa m ade.

R a il r o a d a n d
M is c e l l a n e o u s S t o c k s .— T h e m a r k e t fo r
s t o c k s h a s b een w e a k a n d e x c e p t io n a lly d u ll.
T h e v o lu m e
o f b u s in e s s a v e r a g e d le ss t h a n 4 0 0 ,0 0 0 s h a r e s , a n d a c o n s i d ­
e r a b le lis t o f a c t iv e a n d p r o m in e n t r a i lw a y issu e s d e c lin e d
a b o u t 3 p o in ts , in c lu d i n g S t . P a u l, R o c k I s la n d , N o r t h W e s t ­
e r n , R e a d in g , P e n n s y lv a n ia a n d N e w Y o r k C e n t r a l.
D e la ­
w a r e & H u d s o n h a s lo s t 6 p o in ts o f t h e g a in n o t e d la s t w e e k .
O th e r e q u a lly w e ll-k n o w n s t o c k s h a v e d e c lin e d fr o m 1 t o
2 % p o in ts .
N o r t h W e s t e r n p r e fe r r e d m a d e a n u n u s u a l
record
I t so ld o n T h u r s d a y a t 21 0, a d e c lin e o f 23 p o in ts
fr o m th e la s t p r e v io u s s a le .
M e tr o p o lita n s e c u r itie s s o ld a t
90 , a d e c lin e o f 10 p o in ts w it h i n t h e w e e k , b u t c lo s e s 2
p o in ts a b o v e th e lo w e s t .
D is r e g a r d in g t h e g e n e r a l t e n d e n c y o f th e m a r k e t , M e x ic a n
C e n t r a l a n d N a t io n a l R R . o f M e x ic o h a v e a d v a n c e d , a n d S t .
L o u is S o u t h w e s t e r n , M is s o u r i K a n s a s & T e x a s a n d M is s o u r i
P a c ific h a v e b e e n r e la t iv e ly s t r o n g .
I n d u s t r ia ls a n d m is c e lla n e o u s s t o c k s h a v e b e e n ir r e g u la r ,
b u t g e n e r a l ly w e a k .
W e s tin c h o u s e E l e c t r ic d e c lin e d 8 %
p o in ts a n d r e c o v e r e d fe e b ly .
G e n e r a l E l e c t r i c lo s t n e a r ly 7
p o in ts.
A n u r g e n t d e m a n d fo r C o lo r a d o F u e l & I r o n r e ­
s u lt e d in a n a d v a n c e o f n e a r lv 9 p o in ts , a la r g e p a r t o f
w h ic h it h a s r e t a in e d .
O th e r ir o n a n d s t e e l issu e s w e r e
w e a k , a s w e r e t h e c o p p e r s t o c k s a n d C o n s o lid a te d G a s .

F o r daily volum e o f business see page 1078.
T h e f o l l o w in g s a le s h a v e o c c u r r e d t h is w e e k o f s h a r e s n o
r e p r e s e n te d in o u r d e t a ile d l i s t o n t h e p a g e s w h ic h f o l l o w .
STOCKS
W eek X n d in g M a y 15

S a les
fo r
W eek

R a n g e f o r W eek

A llis -C h a lm e rs C o.............
100 17 M ay 12
P r e fe r r e d ..........................
100 83 M ay 9
200 3 0 M a y l3
A m e r ic a n B e e t S u g a r ...
A m . S te e l F o u n d r ie s ........
350 14 May 12
P r e fe r r e d ..........................
35 5 6 * 8 M a y ll
A m e r T e le g & C a b le ........
30 8 2*4M ayl4
A m e r T o b a co o , p r e f.........
100 142 M aylE
A s s o c M e r ch a n ts 1 st p r e f
40 9 0 M a y l5
160 10 M ay 9
D e n v e r & S o u th w e s t, pi.
G e n e ra l C h e m ic a l.............
300 70 M ay 11
H o rn S ilv e r M i n i n g ........
600 l-2 5 M a y l3
M e r g e n th a le r L in o t y p e .
100 188 M a y l2
N a t E n a m & S ta m p .........
905 3 0 ’ 4M a y l4
P r e fe r r e d ..........................
429 88 M a y l5
1 M ay 16
N Y N H & H a r t r ig h ts 4,8 8 0
100 165 M ay 16
N Y & N J T e l e p h o n e ...
2 % M a y l5
P e n n s y lv a n ia r ig h t s ....... 53,182
500 88* 4M a y l4
P h ila d e lp h ia Co. ( P itts.)
70 91 M ay 15
R R S e cu ritie s “ A ” .........
R o m e W a te r & O g d e n s b .
32 132 M ay 15
400 103*4M ayl5
U n ite d F r u it .......................
U S R e d u o & R e f in in g ..
400 31*8M ayl2

17 M a y l2
83 M ay 9
30 M a y l3
14*4M ayl2
5 6 * 8 M a y ll
82*4M ayl4
142 M a y l5
90 M a y lS
10 M ay 9
70 M a y l l
l-2 5 M a y l3
188 M a y l2
33 M ay 9
90 M a y l 8
l* 4M a ylS
165 M a y l 6
3% M ay 9
90**M ay 9
91 M a y lS
132 M a y lS
104 M a y l4
32 M ay 12

B a n g » sin ce J a n . 1.
16 A p r
83 M ay
26 Jan
14 A p r
56*8May
8 0 M ay
142 F e b
90 M ay
10 A p r
00 *8Jan
l-2 6 M a r
188 May
80»4M ay
8 7% M ay
1 M ay
161 A p r
2 °sA p r
88 »4M ay
85 M ar
132 M ay
103% M ay
29 M ar

23 F o b
87 *8F e b
S l^ A p r
20 J a n
09*aF eb
92 J a n
146 J a n
95 A p r
20 M a r
72 F e b
l-2 5 M a r
188 M a y

86

M ar

93 M a r
l% M a y
165*aMay
3*4 M a r
9 1 % M ay
92% Feb
139 J a n
110% F eb
35 *4 F e b

O a t s i d e M a r k e t .— T h e m a r k e t fo r u n lis t e d s e c u r itie s h a s
b e e n d u ll a n d ir r e g u la r t h is w e e k , w i t h d e c id e d w e a k n e s s
t o -d a y .
C h ic a g o R o c k is la n d & P a c ific R a ilr o a d n e w 5s
(w . i.), w h ic h a re t o be is s u e d fo r th e p u rp o se o f a c q u ir in g
th e c o m m o n s to c k o f t h e S t . L o u is & S a n F r a n c is c o R a ilr o a d ,
w e r e tr a d e d in f o r t h e fir st t im e o n T u e s d a y .
T h e in it ia l
sa le w a s a t 9 2 % ; f r o m t h a t fig u r e th e y d e c lin e d t o 9 0 % t o ­
d a y ; th e c lo s in g p r ic e w a s 9 0 % . N o r t h e r n S e c u r it ie s to u c h e d
9 6 % t o -d a y , a d ro p o f 2 % p o in ts f r o m t h e h ig h p r ic e o n M o n ­
day.
A n in c id e n t o f th e w e e k w a s t h e b id d in g u p o f I n t e r ­
n a t io n a l M e r c a n tile M a r in e 4 % p e r c e n t b o n d s f r o m 7 5 , th e
p r ic e a t w h ic h o n e b o n d so ld “ se lle r 1 5 ” o n T u e s d a y , to 100,
w h ic h o n W e d n e s d a y w a s b id “ c a s h ” fo r $ 1 0 0 ,0 0 0 o f th e
b o n d s ; n o sa le s, h o w e v e r , w e r e m a d e u n t il T h u r s d a y , w h e n
$1 0 ,0 0 0 c h a n g e d h a n d s a t 9 7 % .
T w o b lo c k s o f $ 5 0 ,0 0 0 e a c h
w e r e so ld t o -d a y a t 9 7 % , o n e “ se lle r 15” a n d th e o th e r
“ s e lle r 3 0 .” T h e s t o c k lias b e e n d e p r e sse d ; th e c o m m o n
so ld d o w n fr o m 12 to 1 0 % , r e c o v e r e d to 1 1 % a n d e n d e d th e
w e e k a t 11 ; th e p r e fe r r e d d e c lin e d 3 % p o in ts t o 30 , b u t
t o -d a y r e a c te d to 3 0 % .
O n t h e d e c la r a tio n o f a s m a lle r
d iv id e n d th a n w a s e x p e c t e d , S t a n d a r d O il t o -d a y d r o p p e d
23 p o in ts t o 6 5 2 ;
th is is a lo ss o f 3 2 % p o in ts fr o m
th e h ig h p r ic e o f t h e w e e k .
U n i t e d S t a t e s S h ip b u ild in g
1st s. f ., 5s d e c lin e d fr o m 4 8 % to 45.
U . S . S te e l n e w 5s (w .
i .) h a v e b e e n d e p r e sse d .
F r o m 8 4 % la s t S a t u r d a y t h e y
m o v e d d o w n to 8 2 % ( W e d n e s d a y , b u t la te r r e c o v e r e d t o 8 3 % ;
t o -d a y , a f t e r s e llin g a t 83 , t h e y c lo s e d a t 8 3 % .
A m e r ic a n
L i g h t & T r a c t io n c o m m o n a d v a n c e d f r o m 7 7 % t o 81 , b u t
t o -d a y r e a c te d to 7 9 % a n d c lo s e d a t 8 0 ; th e p r e fe r r e d lo s t a
p o in t to 99 b u t r e c o v e r e d la te r to 9 9 % .
H ack en sack
M e a d o w s d e c lin e d fr o m 1 6 % t o 1 2 % , b u t s u b s e q u e n t ly m o v e d
u p a g a in to 1 6 % ; t h e la s t sa le t o -d a y w a s a t 15. T h e fe a t u r e
o f t h e co p p e r g r o u p w a s t h e a c t i v i t y a n d s t r e n g t h o f
W h i t e K n o b C o p p e r s to c k a n d b o n d s.
T h e sto ck m o v ed up
4 % p o in ts to 1 9 % , b u t t o -d a y r e a c t e d s h a r p ly to 1 6 % .
On
s m a l l t r a n s a c t io n s t h e 6 p e r c e n t c o n v e r t io le b o n d s ro se
f r o m 112 to 133, a n d o n T h u r s d a y 140 w a s b id , b u t n o sa le s
w e r e m a d e a t t h a t fig u re .
O u tsid e q u o t a t io n s w i l l b e f o u n d o n p a g e 1078.

New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
O CCU PYIN G

TW O

S T O C K S —H IG H E S T A N D L O W E S T S A L E P R IC E S
S a tu r d a y
M ay 9

M onday
M a y 11

36
*3 2
36
68
*66
*66
63
7 9 14 7 9 34
7 9 4 80
9 6 4 97 *4
97*4 97 4
91 *8 9 2 4
9 1 3© 92
93 34
9 3 4 9 3 4 *92
65 4 66 4
65 3s 66 Y
144
148
*144
147 4
15 2 15 6
152 1 5 6
1314132 4
131*8132
*71
72
*7 1
72
1 7 0 175
*1 7 0 175
4 4 4 44 4
44 4 4 4 4
3 0 4 36 4
3 6 4 36 4
76
*69
70
*69
*3 2

H 20 146
146
* 125
22 4 2 2 4
2 2 4 23
*87
89
89
‘ 8 8
*75
78
*75
78
3 7 4 38
* 3 7 4 38 4
1 6 0 4 1614
1604 1 6 1 4
1 8 3 18 3
$182 4 182 4
179 1 7 9 4 1 8 0 4 1 8 1 4

T u esd a y
M ay 12
*36

*66

| W ed n esd a y
| M a y 13

37

68

7 9 4 8 0 ,3$
9 7 ^ 97 ^
91*8 923s
94
94
65 4 6 6 4
144 148
152 1 5 6
1 3 1 78 1 3 2 34

*71
72
1 7 0 175
4 4 4 4 4 58
8 0 4 31
70
*69

*35
*664
78 4
$97 4

37

T hu rsd ay
M a y 14
OD

37

*125
140
i ’l O
*125
* 135
146
2 2 4 23
22 4 2 2 4
224 224
*8 8
89
89
*88
89
*88
78
"7 5
*75
78
"7 5
774
3 8 4 3 S 4 * 3 7 4 3 8 4 $37 4 3 7 4
160 4 1 6 1 4
1 5 9 4 1 6 0 4 1 5 8 4 161
1 8 3 4 1 8 3 4 1 8 3 4 1 8 3 4 183
1834
179
1814
1 8 2 4 1 8 2 4 186 4 1 8 2
216
2 1 0
140
*1 3 5
085
195
17
"1 5
294 294
*3
b
30
*28
*9 1
92
117
*115
24
244
*6 4
65
36
364
17741794
252
253
36 4 36 4
87
*8 6 4
*4 6
42
154 154
*30
31
81
81
*134 144
*204 21
344 354
684 684
5 i 4 57 4
*65 4 6 6 4
"9 0
92
*5 7
62
*1 8 5 2 0 0

140
*135
-1 3 5
140
195
190
*185
*185
17
*15
" 1 5 4 17
29
29
284 284
44
44
44
44
*30
*90
92
9 1 4 *9 1
117
"1 1 5
117
*1 1 5
* 2 3 4 24
* 2 3 4 24
*64
65
6 4 4 64 4
36
36
* 3 5 4 36
177
1774 1 7 4 4 1 7 7 4
253
253
253
*251
*3 0 4 3 6 4
3 o 4 36
*8 6 4
87 4
* 8 6 4 87
42
*4 0
42
*4 0
1 5 4 15 4
1 5 4 154
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12
50
21

PAGES

37

68

N E W Y O R K STOCK
EXCHANGE

R a n g e to r Y e a r 1 9 0 3
R a n g e t o r P r e v io u s
S a tes 0 /
On b a sis o f lO O -sh a relo ts
Y ea r ( 1 9 0 1 ;
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S h a res
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H ig h e s t
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80 Jan
c 14 D e c
3 13^ D e c
147 N o v
4 0 N ov
1 1 0 4 N ov
80 N ov
2 09 4 Jan
2 5 4 D ec
5 5 J an
90
Feb
65 D e c
1 U 0 4 Jan
7 2 4 D ec
147 Jan
30 N ov
71 F e b
SO M ay
8 0 4 Jan
113 M ai
5 2 4 M ai
7 9 4 M ar
60 Jan
3 3 4 D ec
71 N o v
6 4 4 D ec
10 D e c
4 9 3 .4 D e c
24 4 N ov

4 8 4 M ay
77 4 M ay
964
166 ‘s b e p
I I 8 4 S ep
99
S ep
7 2 4 J ’l y
128 A u g
145 S ep
1 4 5 4 S ep
97
M ay
198 J a n
5 7 4 S ep
4 5 4 J 'l y
79 J ’ ly
2 2 0 4 J ’ly
151 J ’ly
35 A u g
9 5 4 J ’ ne
9 6 4 J ’ne
5 1 4 Aug
1 9 8 4 S ep
2 6 0 34 S ep
271 A p r
*2744 A p r
26 6 S ep
1764 A pr
21 6 A p r
24 4 A u g
44
S ep
23 A p r
66 A p r
1084 A ug
124 4 S ep
3 5 34 J ’ly
7 9 4 A ug
5 3 4 S ep
1 8 4 4 Jan
29 7 F e b
5 1 34 A u g
964 Aug

5 3 4 J ’ ly

2 5 S ep
4 8 4 S ep
97
S ep
24 A u g
354 A pr
4 4 4 Jan
7 5 4 Jan
6 3 34 J a n
7 4 4 M ar
1 0 4 34 F e b
67 4 D e c
26 3 D e c
9 6 M ay
29 4 O c t
106 A u g
9 8 4 D ec
1 7 3 4 Aug
5 1 34 A u g
9 0 :4 A p r
50 4 A u g
88 A ug
39 A u g
6 2 34 A p r
4 1 S ep
84 A p r
7 1 4 Jan
13 8 F e b
340 A p r
9 1 4 M ay
1594 Aug
158 N ov
1 3 4 4 J ’ly
174 F e b
43 J a n
9 1 34 M a r
3 1 4 M ar
192 A p r
115 A p r
1 2 7 34 A p r
84 N ov
139
S ep
3 5 34 S ep
6 9 34 S ep
1 2 5 4 S ep
122 A p r
2 1 34 S ep
4 5 4 M ar
1 6 8 4 Jan
5 7 4 Aug
1 2 4 4 Jan
1 00 A u g
255 A p r
3 7 4 S ep
8 0 34 O c t
9 8 J ’ ly
8 1 4 S ep
106 M ar
8 4 34 S ep
17 0 S ep
47 4 A p r
8 5 4 S ep
93 S ep
165 4 S ep
1 2 8 M ay
7 8 4 S ep
9 0 4 S ep
8 0 4 S ep
5 0 4 D ec
85 4 N o v
12 5 A p r
2 4 4 A ug
8 1 4 S ep
42 S ep

BANKS AND TRUST COMPANIES—BROKERS’ QUOTATIONS
A sk
L id
L id
A sk 1
Banks
A sk
Ranks
L id
A sk
Banks
L id
Banks
........| P h e n i x .......... 11 8
125
M u tu al^ ]........ 2 9 0
165
J e f f e r s o n ! !... 155
300
1 4 th S tr e e t!}. 2 7 0
P la z a !,............ 60 0
205
N a ssau fi ___ 195
L e a th e r M fr . +349 4
230
F o u r t h .......... 220
180
P r o d E xch li . 176
5 76
N e w A m s t e r 54 6
675
L ib e r t y ........ 625
mmmmm G a l l a t i n ........ 4 1 5 425
R iv e r s id e !] . . 29 0
N e w Y o r k Co 1560
L i n c o l n .......... 1 0 5 0
t3 6 5 G a n sev oort^ 140
6 /o
S e a b o a r d ___ 625
260
N Y N a t E x . 246
350
M a n h a tta n !,. 3 4 0
G a r f i e l d ........ 5 0 0
198
326
S e c o n d .......... 6 50
N e w Y o r k . . . 31 6
270
M a rk e t& F u l 260
170
G e rm a n A m - 1 6 0
465
Shoe<fc L e th . 180
1 9 th W are 11|. 156
M e c h a n ic s ’ . t ‘2 82
G e rm a n E x ', 4 1 0
S ta te ' ............ 700
N o r t h A m e r . 1225
165
M e c h <fc Tra\ 150
116
G e rm a m a !j .. 6 2 5
166
3 i t h S t r e e t ! 215
N o r t h e r n ___ 156
M e r c a n t il e .. t3004
G r e e n w ic h ! j 5 3 6 0 325
116
Orieiital'i__ 2 3 0 24 0 , 12th W a rd !]. 120 13 0
M e r c h E x c h . 1 172
H a m ilto n !! .. 170
206
196
.
2 3 d W a r d !].. 125
P a c i f i c ! ] ........ 246
170
180
M
e
r
c
h
a
n
ts
’
.
.
615
6
3
0
H
a
n
o
v
e
r
........
4
6
6
0
3
7
5
0
Fifth A vell..
i? 5
130
U n it e d ............ 120
ParK
(
n
e
w
)
..
066
14804
4
0
0
;
.M
etrop
n
e
w
'
6
7
0
Im
p
&
T
r
a
d
.
6
5
0
4 3 2 5 F ift h ............... 375
220
3*00 j Y a r ic k ........ 2 1 0
P e o p le ’ s ll___ 28 6
250
I r v i n •: .......... 2 3 5
•250 |Alt A lo r n s ! .. 2 2 5
760
F ir s t ............... 7 5 0
190
d av, $ u e s s ou.au i d J s h a re s. 1 dlx r ig h ts . t S ta te oa u k s. a E x d iv id e m l a m i r ig n ts . o N e w s to c k .
* B u i a m i a s k e d p r ic e s ;
. » v, ,**c*.*w
c I n c lu d e s , p r io r to M ay 17, d e a lin g s in o ld M e x . N a t. t r u s t r e c e ip t s .
A S a le a t S t o c k E x c h a n g e o r a t a u c t io n th is w e e k . s T ru s t C o. c e r t ific a t e s .

Banks
NEW YORK
A m e rica !| . . .
A m e r E x c h ..
A s t o r ..............
B o w e r y ! . ___
B u t c h ’ s & Di
C e n t r a l ..........
C e n t u r y !i___
C h a s e ............
C h a t h a m ___
C h e ls e a E x c*
C h e m ic a l___
C it iz e n s ’ ........

L id
5 45
t 258
75 6
38 0
155
1 170
175
7 60
13604
160
4250
180

A sk
555
265
1060
395
165

•......
••••.
......

Ranks
C i t y ................
C o lo n ia l !i . . .
C o lu m b ia !} . .
C o m m e r c e ...
C o n s o lid a te d
(T r n E x c h g e '
E a s t R i v e r ..
E q u it a b le . . .
F e d e r a l !] ___
F id e li t y li___

B id
1295
465
375
\3 5 5
195
395
160

A sk

......
_...
......
......
......

......
.....•
......
......
......
.....

Ma y 1 6 , 1903.J

StOCX RGCord— Concluded— .Page 2

8 TOC A S — H IG H AS T A A D
a a n in u r i/
M a y 'J

M ay i l

|

M ay U

LO W E S T S A L E P R IC E S
I W eanesda
M a y 13

M a y 14

r nua 7
M a y IS

STOCK*
, N E W Y O R K STOCK
EXCHANGE

1071

R ange tor P rev to u
s a i* * of I R an ge lo r y e a r HHJ3
Y ea r(1 9 0 2 )
t/tr \(}u ha*is 01 1 0 th sh a re Lots
W eek,
S hare*
1 Lowest I H ig h est
Lowest
H igh est

78 4 79
7 *% ,s«*j.i
7 .•>4 79 4 1 $ 7 8 4 78 4 I 77
7 s 1st. L ou is A San F r a n ........ ’ 11,415 03% A pr 1 1| 90 4 F eb 24
55% Jau | 8 5 4 J ’ ly
-8 0
2 0 U 7s
'8 0
85
*80
84
•80
84
8 l
SL
A p r il
88
F e b 2 b 77 I)« c I 90 J ’ ly
l>o 1 st p r e f .................
$09
09
Hlil 04 4 A p r l; 78 F eb *24 05 4 Dec 80% J ’ly
208
OH
7 1 4 7 1 4 * 0 9 4 71
70 4 7 0 4
5UI 21 4 A p r 14 30 Jan 7 24 4 D ec 39 A ug
23
23 | ‘2 4
24
23 4 23 4 <t. L ou is S o u th w e s te r n ..
23 4 24 1 *23 4 ‘2 4
1,H)l 48 A pi 1. 00 Jan 7 55 % 51 a i SO Sep
a 3 4 54 | *53
54
53 4 54
54 4 54 4
•50
5-4
l)o p r e f .........................
53 4 55
54 4 56%
53*4 54 'e
53 % 54 % S0111 hern P a cific C o ......... 1 53.38« J it 3 % 51 uy 1 >i 08 % 51 a r 19 1 56 D ec 81% Sep
54
544
30 4 3 0 4
30
304
30
30%
2 9 4 30*4
29% 2 9 4 Soul hern v .tr. els. stinpod 10,321 28 4 A p r i 1 30% Jan 9 28 D ec 4 1% Aug
02 4 92 3j
9 2 4 93
1.40. 1 9 o A p r 13 1 96
92 4 92 4
92 4 92 4
F eb 9 89 % D ec 9 8 4 A p r
l)o p rei.
do
9 - 4 ‘0 2%
$93
93'
•95
93 4
93
93
*92 4 93 4 *92 4 9 2 4 ! M A O. sto ck tr. c tfs . . .
2 111 93 A p r 2! | 90# 4 M ar 3 j 90 Ml!) 93 N ov
35
36%
3 4 08 35 4
3 4 4 35%
'1 'e x a s & P a c ific ............... 13, -21 1 30 A p r 14 1 43% F eb lb
37 D ec 54% S ep
3 4 4 35
§i*4
121
123 , 1 2 0
123
'1 2 0 123
121
121
-1 2 0
123 1 1 lnrd A v e n u e (N . Y . ) . ..
201 117% A p r 17 1*28%Jau 2 122 Jan 1134 F eb
•......... 34
*31
33 4 * .......... a * T o le d o H allw ays As L ight
' ......... 34 |*......... 34
29 M a r28 3 7 % Jan 12 ; 32 4 N ov 38 Sep
2 0 4
2 d\
25 4 ‘2 0 4
801 23% A p r 14 I 31% Jan 9 1 s 4 J a n 33 % OCt
20
*204
20 4 Tot. St. L. 6c W . v. tr. c tfs
2 4 % 25 4 *24
4011 I 0 4 M ar 9 48 Jun .w j 35 Jau | 49% Sep
44
42 4 43 4
D o pret. v ot. tr. c tfs .
42 4 42 4 ■42 4 43 4 *42
*42
43 4
*112 113 I 1 1 2 4 H 2 4
- 11 1 4 113
1,581 107 4 Mai 31 122% Jan 23 ll)7 Jau 1129 Aug
1 1 1 4 112
111
112
Twin C ity K u p id T r a n s it.
. . . . . . 158 Jail 12 159 J an 12 156% Auj* 159 4 Feb
......... 159
154
159
•154 1 d 9 * J 53
159
•153 159
D o p r e f..........................
89-4 90%
894 904
8 9 % 90 4
8 8 4 89% | [ m o n P a c ific .................... 1 1 7 ,2 o - 80% A p r 13 104% Jan 9 93 4 D ec 113% Aug
89 4 90%
9 0 4 91 4
2 ,0 9 s 87 4 A p r 1.1 j 95% F eb 11 86% Mai 95 Aun
90 4 9o%
9 1 4 914
9 L4 9 1 4
91
91
D o p r e f.........................
18
18
18
13 4
17 % 1 7 4
17% 17%
1,100 10% A p r 15 2 2 % Jan 13 20 D ec 24% O ct
17% 17% U nit R y a l n v ’ t o f San Fran
*56 4 57 4
5/
57 4
50 4 50%
50% 50%
1,000 50 A p r 14 04 4 J an 0) 60 D ec 60 N 0 1
D o p r e f..........................
5 0 4 57 *
‘2 8
*284
1,700 24% A p r 14 32% F e b 27 21% Jan 38% >ep
27
27 4
27 4 *274
2!
2 7 4 1 \ V a h a s l i ..............................
274 274
4 7 3,
4 8 % 49
474 484
48
49 4
47 4 4 8 4 * * D o p r e f........................ 49,800 42% A p r 14 55% F eb 24 1 37 D ec 54 4 Sep
2,970 21 A p r Hi 27 4 F e b 9
23
234
*23 4 24
2 2 4 23 4
24
24 4
30% S ep
17 Jan
24 4 24 4 W h e e lin g A Lake E r ie ...
58
59 4
58 % 5 9 4
4,000 51 A p r 3 61% F eb 9 49 4 Jau 00 A p t
59
00
58 4 00
D o 1st p r e f..................
59 4 00 4
34
35
0,151 30% A p r 13 38 4 F eb l b
35
30
35 "4 30
-3 1 4
3 5 4
35
30 4
I)o 2d p r e f...................
28 Jan 42 % Sep
3.045 22% A p r 14 29% F eb 9 19 4 Jau 31 Aug
24
24 4
234 234
23
234
2 3 4 24
22 % 2 3 4 W isco n sin C ent. v. tr. c is
3,359 40 A p r i l 55 4 F e b 0 39 4 Jan
47
474
47
474
57% Aug
4 7 4 474
Do pref. v o t. tr. c tfs .
404 404
40
404
I n d u s t r ia l A .M iscell
. . . . . . $204 J a n 30 235
*225 233
*225 233
•225 233
*225 235
*225 235
*221 233
i dam s E x p r e s s ...............
F eb 11 $198 J ’ ly $240 O ct
00
0 7 14
05 % 07
00 4 67 4
63 4 64 %
0 5 4
00
64 4 054
53 No\ 79 Feb
nml gamut ed C o p p e r ... 132.290 00 A p r 13 75% 5 Ia ri2
3934 40
3 9 4 394
39
394
39
39 S- A m e rica n C ar A F ou n d ry
39 4 3 9 4
3 9 % 39 4
35% J an 3 41% J an 19 28% A p r 37% G et
095 89 4 A p r 13 93 Jan 6 85% Jan 93 % O ct
91% 91% * 9 1 4 92
914 914
9 1 4
914
9 1 4 9 1 4 $90 4 91%
D o p r e f..........................
l,3 3 u 3 8 4 M ay 15 46% F e b 20 30 4 Jan 57% A pr
42
42
$41-4 4 1 4 * 4 1 4 42 4
404 414
40 4 40% z 3 8 4 39
A m e rica n C otton O il.......
505 92 M ay 15 98 F eb 13 86 F eb 99 4 A p r
97
$ 9 7 ‘b 9 7 4 $97 4 97 4
97
97
*92
92
9 0 4 9 0 4 *95
D o p r e f..........................
*30
35
*30
35
*30
35
*30
35
-3 0
35
......... 33 M ay 1 4 1 4 J a n 2 I 3 2 4 Jan
■30
35
A m erica n D ie t.T e le g ra p h
42% 51 a j
225 200 A p r 13 235
*205 220
*‘2 05 220
*205 220
2 1 0 212
*2 0 5 2 2 0
*205 212
A m erica n E x p r e s s .............
F eb 5 2 10 Jan 205 Aug
14
15
70u 12 May
14
144
14
14
*13 4 15
-1 3 4 15
-1 2
15 4 A m erica n G ra ss T w in e ..
29% J a n 7 27 D ec 02 % Aug
270
*7
74
74
74
*7
74
-7
74
7
7 A m e r H id e A; L e a th e r ___
7 M ay 15 11% J a u 2
*7
74
8% D ec 13% O ct
3 00 28 M ay 15 3 7 % Jan 0
* .......... 30
* .......... 30
*28
29L
29 4 2 9 4 *.......... 30
28
28 4
D o p r e t .........................
34 D ec 43 4 Sep
2,00.)
94
9L
9
94
84
9%
5% M arlO 1 1 % Jan 2
9 4 19
94
94
84
8 4 A m e r ic a n I c e ......................
9 4 J ’ly 3 1 % J au
790 20 M arlO 42% Jan 30 32 J ’ l)
}3 0
30
$ 35
35
35
35
*35
30
3 4 4 3 1%
D o p r e f............. „ ..........
07 Jan
3 4 4 35 4
370 14% M arlO 19% J a n 6 14 Dec
$15% 15%
15
15
$14
14 A m e rica n L in s e e d .............
154
1 5 4 15 4 *15
15 4 *15
28 A p r
10 38 May 2 48 4 J a u b 39 4 Dec 58 Max
-4 0
45
*40
45
$38
38
*40
45
-4 0
45
-4 0
45
D o p r e f..........................
3,815 25 May 13 31% F eb 17 23 4 D ec 30% A p r
25
20
26% 26%
25 4 25%
20 4 20 4
25
2 5 4 A m e rica n L o c o m o t iv e ...
20 4 2 0 4
600 9 2 4 A p r 13 95% F eb 17 89 Jan 100% A p r
93
93
92 % 9 2% *92 4 93 4
*92 4 93 4 *93
93 4
D o p r e f ..........................
93 4 93 4
40i/
4
4
3%
3% A m e rica n M a lt in g .............
-3 4
44
•3%
44
7 4 May
2 4 M a r io
'3 4
44
5 % F e b 26
5 Jan
* 3 3a
44
200 17 4 -May] 5 2 4 4 J a n lb
*18
20
*18
20
*......... 20
* 1 7 4 20
* 1 7 4 20
17 4 1 7 4
D o p r e f..........................
21 Jan 29 S ep
4 9 4 50 4
50 4 5 0 4
50
504
49
49% A m er. s in e lt ’ g A lie fin ’ g . 1 1 ,595 4 2 % J a u 3 52% F eb 17 37 Xo\ 49 % 51 ay
49 4 50
50 4 5 0 4
1,921 91% A p r 13 99 4 F e b 10 87 4 No\ 100% J ’ ne
94% 94%
954 954
95 4 9 5 4
95 % 9 5 4 *95 4 95 4
D o p r e f..........................
954 954
. . . . . . 122% A p r 27 126 51 ar 4 4 0 4 Jan 135 O ct
* ......... 125
* ......... 125
- ......... 125
* ......... 125
* ......... 125
* ..........125
A m e r ic a n S n u ff..................
100 95 A p r 15 98% J an 20 85 Jan 101 O ct
-9 3 4 90
*94
90
95
95
*93 4 96
*93 4 90
*93 4 90
D o p r e f..........................
125 4 1 2 0
120 1 2 0 4 120 126
125 1 2 6 4 125 120
1 2 4 % 1 2 5 % A m e rica n S u g a r R efin in g 13,679 119 A p r 0 1 3 4 % Jan 8 113 N ov 135% 51 ai
480 119 A p r 10 122 F e b 13 115 Jan 122 A ug
* 1 2 0 4 1 2 1 4 • 1 2 0 4 1 2 1 4 -1 2 1
1 2 1 4 *121 1 2 1 4 $ 1 2 1 4 1 2 1 4 1 2 1 4 1 2 1 4
D o p r e f..........................
25 154 A p r 10 169 F eb IS 100% Jan 180 A p r
*158 1 5 9 4 $ 1 5 7 4 1 5 7 4 *155 157
*155
157
$158 158
*150 158
A m er. T e le p h . A T e l e g ...
. . . . . . 12% A p r S 14% F eb 25
13
*12
1 3 4 *12
-1 2
1 3 4 -1 2
1 3 4 -1 2
13 4 * 1 1 4 13 4 A m e rica n W o o le n .............
12 D ec 17% J an
280 7 0 % A p r 13 s o Jail 31
*70
78
* -7 0
78
7 7 % 77%
$ 7 7 7s 77% ♦77
78
80% S ep
D o p r e f..........................
73 A pi
7 7 4 774
1,200 95 J a n 21 1 2 5 4 F e b 25 </80 D ec 140 F eb
107 107
*1044107
105 105
1 0 3 % 104
-1 0 6 107
102 103 4 d A n a c o n d a C o p p e r...........
. . . . . . 200 A p r 15 225 J a n 21 2 10 Jan 253 A ng
*210 225
*208 220
*204 215
-2 0 8 2 1 0
*200 210
*2 0 8 218
l> r o o k ly n U n ion G a s ___
300 10 Jan 5 15% Jan 29
114 114 *114 1 2 4
- 1 1 4 1*24
D r u n s w . D o ck A C .I m p ’ t
1 1 4 1 1 4 - 1 1 4 1 2 4 * 1 1 4 12
7 % D ec 14% A p r
*49
52
—
*49
52
*49
52
-4 9
52
*49
52
-4 9
5*2
49 M ar 2 55 J a n 6 41 J ’lie 53 Sep
B u t t e n c k C o ........................
03
034
0 2 4 05 4
0 8 4 7 o%
68
09 4 / Colorado F u e l A I r o n ... 37,835 54 A p r 3 8 2 4 Jan 0 73% A ur 11 0 4 A p r
05 4 0 0 4
0 0 4 70
1 ; D o p re f
1*>2 Jan 3 122 Jau 3
2140 Max
1,425 17 4 M a y l3 22% F eb I s
20
18
18 Col. A H o c k . C oal A Iron .
1 9 4 1 9 4 -1 9
1 7 4 17%
24% O ct
17 4 18 4
1 9 4 194
14 4 Jan
3,520 201
*209 211
209 209
2 0 8 208
M a r io 222 J a n 7 205 D ec 230% A p r
2 0 6 207 4 2 0 0 2 0 0 4 2 0 3 4 205 4 C on solid a ted G as (N . Y . >.
1,525 111% A p r 14 119 Jan 2 114 D ec 1 2 0 4 J ’ m
115 115
*114 115
113 113% C on tin en ta l T o b a c c o , prel
$ 1 1 4 % 1 1 4 % 113 1 1 4 4 1 J 3 4 H 3 4
5,900 30% Jail 2 35 5tar23 26% D ec 38% .Mar
31 % 31%
32
32 4
32 4 32 4
32
32%
31
31% C orn P r o d u c t s ....................
3 1 4 32
1,440 80 A p r 13 85 % J a n 19 79% Dec 90 51 ar
8L
81
81
81
$814 814
8 0 4 8 0 4 $80% 80%
8 0 % 8 L4
D o p r e f..........................
*135 137
*135 137
l o o 137 May 13 140 J a n 19 130% Jan 139% J a n
*135 137
137 137
-1 3 5
137
-1 3 5 137
D ia m on d M a t c h .................
2 3 4 284
1,200 28 A p r 28 34% J a n 6 27 D ec 33 D e c
29
29
284
2 8 4 -2 8
26
28 4 D istille rs S e c u r it’ s C orp.
2 8 4 2 8 4 *28
2,432 179 A p r 14 2 04 F e b 16 olTOL ( )ct 3 34 A p r
185 4 1 8 7
190 190 4 188 190
G en era l E le c tr ic
1 9 2 4 19*24 192 193
18
18
1,600 15 A p r 13 19% Jail 5 16 4 D ec 23% 51 ar
18
18
IS
18
-1 7
18
164 174
10% 10% 1 n te rn a tio n a l P a p e r ........
*70
71
100 70% A p r 25 74% F eb 6 70 D e c 77% J a n
*71
72
*70
71
71
*7 0
71
i D o p r e f..........................
7 0 4 7 0 4 *70
7 lu 40 A p r 27 73 J a n 19 49
* 4 2 4 43
*42
43
*42
43
42 4 43
* 4 1 4 41% $40% 40% In te rn a tio n a l P o w e r ........
D ec 199 A p r
300 40% M ar LO 4 6 % Mav 8 40 D ec 57% Mar
40
40
*46
464
44% 44% In te r u a t’ l Steam P u m p ..
"4 5 4 4 0 4
45 4 4 5 4 - 4 4 4 4 6 4
390
82
4
8
‘
2
4
$82
82
82% A p r 14 8 9 4 J a il 12| 82 D ec 95 O ct
D o p r e f..........................
$804 804
- 8 0 4 80
*80 4 8 2 4 *80 4 83
*12
15
300 11 J a n 7 13 5 Ia y l3
12
12
*1*2
14
-1 3
15
-L 2
15
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19 A p r
12 4 3 3
9 O ct
595
*41
4 3 4 *41
4 3 4 *42-4 4 3 4
42
42
41 4 May 14 47% F eb 17 40 N ov 53% 51 ar
414 414
4 2 4 4 2 4 V [a tio n a l B is c u it .............
1
50
*105
100
*105
1U6
-1
0
5
100
*
9
8
4
1
0
4
%
^ D o p r e f..........................
103 J an 3 106% 51 ay 11 101% D ec 109 4 A p r
$1054 1054 1 0 8 4 1 0 0 4
4,270 19% M ay 7 29 4 F eb 5 1 5 4 J a 11 32 Sep
21
21
20
20
19% 19% N a tio n a l L e a d ......................
2 0 4
21
20
20
1 9 4 20 4
200
8
8
4
8
8
4
* 8 7 4 89
*87 4 89
*87 4 83
*87 4 8 8 4
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*87 4 89
88 4 M «y 0 95 F eb 10 78 4 J a n 90 O ct
*105 107
*105 167
*100 107
-1 6 5
107
UOO 105
*■100 105
155% A p r 13 L77 J a il 2 118 51 ai 190 A p r
N e w Y o rk A ir B ra k e ........
1,000
97
97
90
97
96
99
90
98
93 A p r 14 1 2 4 4 J an 7 88 Jau 134 S ep
*9 0
98
*90
98
N o rth A m e r ic a n Co., new
400 31 M ayL l 42% J a n 7 37 N ov 49% 51 ar
31
31
33
*32
33
3 1 % 31% *30
*31
33
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314 314
2,690
104 1 0 4 4 -cl02 102% 102 102
104 4 1 9 4 4 1 0 3 4 104
99% A p r 13 108% 1 c b 10 98% Jau 109 4 > ep
100% 1 0 1 4 I- eop. G a s -L .A C. (C in e.)
1,062 59 % M ay la 05% J a n 20 39 Jan 03 4 o c t
5 9 4 o9 %
59 4 59 4
59 4 59 4
59 4 6 9 4 $59% 59%
59 4 59% P ressed S teel C a r...............
830
$
9
1
4
92
92
92
914 914
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91% 91%
91 4 A p r 29 95 F e b 20 82% F eb 9 6 4 o c t
D o p r e f..........................
*217 220
200 215 A p r 14 235% Jail 14 215 Jau 2 5 o A p r
*217 220
217 217
-2 1 0 219
2 1 0 210
*219 220
P ullm an C o m p a n y ___
1,220
31
31
31
31
31
314
3 1 4 32
30 A p r 13 37 F e b 9 24 A p i 3 8 4 s e p
3 1 4 3 1 4 $31% 31%
i l a i l w a y S teel S p r in g ...
8.) 80 51 ay 14 90 F e b 25 80 A p i 90% O ct
80
80
*85
87
-8 5
80
* 8 5 4 87
87
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$87 4 8 7 4 -8 5
2,220
19
19
18
18% R e p u b lic Iro n A S teel . . .
18 4 19
18 % 18%
18
184
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*1 8 4 194
1,920 75% A p r 13 8 0% F eb I s
*78
79
78
78
*77
784
77 4 78
77
77 4
77 4 7 7 4
D o p r e f . ..
08 Jau 83% s e p
2,400
25% 25%
24% 25
2 5 4 ‘2 5 4
20
20
25 4 25%
25
25 4
R u b b e r G ood s M i g .........
21% Jail 5 30 F e b 10 17% F eb 25% A p r
i
l
b
80
80
81
81
80 4 80 4
*79 4 81
D o p r e f..........................
72% Jan 2 84 4 F e b 17 63 J ’ly 74% 51 ar
804 804
804 804
700 53 M ar31 72 F e b 25 2 9 4 Jan 83 s e p
02
*59
62
57
58
*59
0 3 4 -i*9
5 8 % 58%
O lo ss-S h e lfie ld SL A Iron
584 584
200
*90
92
89
-8 5
90
90 4 J an 2 9 7 4 F el) 18 80% 51 a) 95 s e p
9 0 4 -8 7
O D o p r e f__
9 0 4 9 1 4 *87
400
-4
5 S tandard H op e & T w i n e ..
5
5
*44
5
-4 4
5
44
44
6 4 F e b 11
4 Jan
8% A p r
4 4 M ay 12
44
44
22,080
O0 % 61 % T en n . Coal, Ir o n A H R ...
0 1 4 63
62 4 6 3 4
59% Jail 2 08% 51 ar21
49 4 D ec 74 % A p r
6 2 4 63
0 1 4 62 4
61 4 6 2 4
*34
40
•34
35 T e x a s P a cific Land T ru s t
. . . . . . 34 A p r 13 40% J an 7 35 Jan 44 4 F e b
*35
40
*35
40
*35
40
*3 5
40
4u0
10 4 10 4
* 1 o 4 11
94
9 4 * .......... 11
I 111 ion B a g A P aper
9% M ay 14
300 68 51 ay 14 79% j an s 72 Jan 85 A p r
*70
72
68
70
*65
70
vJ D o p r e f ...
$714 714
1 (Ho \1n\ 17 O ct
*10
15
luO 50 A p r 21
*50
55
D o p r e f ...
5 2 4 52 4
42 Mav 59 S ep
i l l ) i 1'21 M ay 12 150% Feb 4 97 Jan 100 A ug
125 " 125 ' -1 2 0 130
*120 130
*125 133
*125 135
$124 124
U n ited S ta tes E x p r e s s ...
13% 1 3 4
13 4 1 3 4
1 3 4 13% U n ited S ta te s L e a th e r___ 25,385 12 5 ia r i0 15*4 F eb 11
134 144
13 4 1 3 4
134 134
10 4 D ec 15% Sep
94% 95 4
D o p r e f.......................... 11,450 83% J an 16 90% M ay 12 79% J an 91 % S ep
95 4 95%
9 5 4 90%
9 5 4 90%
95 4 9 5 4
95 4 9 0 4
20
2 0%
0,950 1 8 4 A p r 13 2 8 4 J a n 2 20 N ov 32 O ct
19% 2 0 4 U S R e a lty A C o n s tr u c tio n
20
204
20 4 2 0 4
20 4 2 0 4
20 4 2 0 4
980 64% A p r 13 73 J a u 2|| 0 4 4 N ov 75 4 O ct
69
*07
08
60
60 4
D o p r e f..........................
*67
68% •67
6 0 4 0 i%
$ 08
08
3,120 14 A p r 14 19 % F eb 10 14 Jan
16 % 10 %
10
1 0 4 U nited S ta tes R u b b e r ...
16
16
154 164
19% O ct
10
104
1 0 4 17
52
52
3,230 48 A p r 13 58 F e b l o
D o p r e f..........................
52 4 52 4
52 4 5 2 4
49 4 D ec 04 M ai
5 2 4 54
52 4 52 4
5 1 4 52 4
63,422 33% 51 ay 13 3 9 % F e b 5 29% D ec 40% J an
33% 34
3 3 4 34%
3 3% 34 4
U n ited S ta tes S t e e l...
35
354
34 4 35
3 4 4 35 4
8 3 % 83%
82% 83%
D o p r e f.......................... 08.083 8 2 % M ay 13 89% J an 7 79 D ec 97% Jan
fc3% 844.
834 834
844 844
8 3 4 84 4
1,930 58% A p r 1 4 00% F eb 19 54 D ec 76% A p r
62% 63% V irg in ia -C a rolin a C h e m ..
03
63 4 $02 4 02 4 * 6 2 4 6 3 4
03 4 0 3 4
62 4 6 ‘2 4
1 1 2 4 4 1 2 1 4 * 12 L 1 2 4 4 *121 125
D o p r e f..........................
50 121 A p r 13 L28 4 F eb 18 120 D ec L34% Sep
124 4
*121 124 4 *121 124 4 *121
-3 0
33
-3 0
34
*30
33
-3 0
34
-3 2
34
*31
34
V ir g in ia Ir o n C oal A C oke
30 A p r 13 39% F e b 25
29
29
1,450 2 7 4 A p r 13 33% J au 9 29 4 N ov 33 4 N ov
28
28%
$23
28
2 8 % 28% V u lc a n D e t in n in g .............
284 284
7siv. a
i a Wl .Ton * <1 7 8 ^ Oct
81 4 D eo
D o pref
*205 222
*205 222
*205 222
*205 222
*205 222
-2 0 5 222
\ \ 7 ells, F a rg o A C o ........
200 A p r 13 249 4 F e b 6 $185 Jau /2 5 5 A u g
84% 85
* * e s t’ n U n ion T e le ’ gph
854 8 5 4 $854 854
2 , u i 84 A p r 3] 93 Jan 14 84% J ’ ly 97 4 A ug
* 8 5 4 85*•
85
8 5 4 $85% 85 %
*219 210
$217 217
*210 210
*210 210
W e st’ g h ’ s e E l A M lgasseU ]
510 191 A p r 15 221 J au 7 1 0 9 4 Jan 233 Sep
204 4 2 0 0 4 *200 207
*210 217
*210 217
•210 217
*200 210
* 2 0 0 217
D o 1 st p r e f............... .
*210 217
. . . . . . 195 A p r 1 5 1224 Jan 7 180 Janh.J34 A n r
78 4 7 8 %
*80
83
70
70 %
*23 4 24 4
*54
56
54% 55 4
3 0 4 30%
*92% 93%
*93 4 94 4
35 4 35 4
•1*20 1*23
* ......... 34 4
20 4 ‘2 0 4
42
42
112 411*24
*154 150
89 4 90%
*91
014
18
18
57
57 V
*27 4 28
47 4 47%
* ‘2 2 4 *23
*55
58
* 3 2 4 33 4
♦......... 24 4
•......... 48

BANKS AND TRUST COMPANIES—BROKERS’ QUOTATIONS
H unks

W a s h .H ’ htsT
W est Side* ..
W estern new
Y ork villel, ..
BKOOKLYN

B orou gh ^ ]...
B ru ad w ayl,..
B rook lynil ..
C on ’ y 16c BB'
8th W a r d ; ..
F ir s t.............

B ia A s A:
Bank*
BROOKLYN
200
500
5 Ia n u fa ctrs’ .
3S7 4 392 4 M echanicsD .
M e rch a n ts’ ..
375
x &8s a n ..........
N a t C ity .
N o rth S i d e ! .
P e o p le ’ s ! ___
125
300
17tli W a r d !.
S p r a g u e .......
135
140
S tu y v ’ t H ts'
U n i o n ! .......
80
W a ll about*
>80

......

B id

A sk

351
225
115
360
215
215
140
200
175
150
140

315
220

......

T ru st C os.

B id

A sk

T rust C o ’s
E xchan ge Tr
N. Y. CITY
Farm Lo<fcTr
B a n k e rs’ T r . 300
F ifth A v e T r
240
245
B o w l’ gG reen
G u a ra n ty T r
B road w ayT r. 152 4 10*2 4 G uardian T r
C’ IR ’ ty B & T r 575 " 595 1 K n ick ’ r b ’ k ’ r
C e n tra l T r ’ st •2460
L in co ln T r ...
3 - o 1 M c V ’ c k ’ r Rt v
C ity Tru.*n.. . 360
385
C o lo n ia l....... 377
M anhattan /.
C o n t in e n t a l. 690
M erca n tile .
E a stern T r .. 170
175
M e rch a n ts’
175
185
E m p ire St at*
M etrop olitan
d)0
E q u ita b le T> 750
M orton T ru st

B id
1450
585
715
190'
84 0
370
26)0
500
1100

A sk

1500
600
740
200
380
265
1175
>15

1040 1060

T r u s t C o 's
M ut. A llia n ce
N Y L ife A i'r
N Y Sec A Tr
N o rth A m er.
R eal Est T r ’ t
St;i m ia rd T r’ t
T r Co o f A m .
T rO o o f K p b c
U n ion T rust
U S 51 t g 6c T r
U nit States .
V an N ’ d en T r
W a sh in g ton .

B id
240
f 1200
i3 2 5
295
390
370
282
lo 5
1420
475
1670
250
t4 0 0

A sk

260

T r u s t C o ’ s B id
W in d s o r ........ 225

BROOKLYN
1375
B ro o k ly n T r
305
F lat b u s h ___
410
F ra n k lin ..
380
H a m ilto n ___
287
l OS
K in g s C o ___
1440 L Isl L 6c T r.
N a s s a u .........
490
1685 P e o p le ’ s ........
260 | W illia m sb ’ g .
410 |

4 70
175

A sk

240
,485
.........

•no

325 ;..........
4 3 0 4 ..........
3 2 0 % ..........
260
..........
3 8 0 390
270 (275

* Bul aim asK»*d p rices; no sa les on tills day. $ L ess tnan 100 snares, r E x ruruts. d S in ce M a rch 31 , 1002, q u o te d p er c e n t lu stea d o l d olla rs p er share.
1 Sale at S to ck E x ch a n g e or at a u ctio n th is w eek , o E x s to c k d iv id e n d , s T r u s t Co. c e rtu ica te s. 3 B uuks m ark ed w ith a p ara gra p h (fl) are S tate b a n k s

New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
O C C U P Y IN G
BONDS
N . Y . STOCK E X C H A N G E
W e e k E n d in g M a t 15

So V.

P r ic e
F r id a y
M ay 15
B iu

W e e k 's
R a n g e or
L a s t b a le

u
u
u

2s
2s
3s
3s
V
3s
u
u 3s
u 4s
4s
V
u s 4s
u s 4s
U S 5s
u s 5s

c o n s o l r e g s m a l l . .d l 9 3 b
c o n s o l c o u p s m a ll. d l930|
r e g i s t e r e d ..............k 131b
c o u p o n ...................... A:191S
r e g sm a ll b o u d s ../c l 9 1 s
c o u sm a ll b o n d s ../c l9 1 S
r e g i s t e r e d ...............7tl907
c o u p o n ..................... 7 il9 0 7
r e g is t e r e d .................. 1925
c o u p o n ........................ 1925
r e g is t e r e d .................. 1904
c o u p o n ........................ 1904

Q -J
qi-J
^ J
0 -J
q>-F
q»-F
i^-F
o -F
^ -JJ
l^-J
(^-F
F
O-F
0 -F

R ange
S in ce
£ 1 J a n u a ry 1
H ig h

105*4 106*2 106 M a y ’ 03 . . . . 106 1 0 6
105*4 106*2 LOO*4 M a y ’ 03 -----1 106*4 107*2
107*4 S a le
107*4 b a le
106*2
110*4
110*4
135*4
135*4
102*2
102*2

......
111*S
111*8
136*4
136*4
103*2
103*2

F o r e ig n G o v e r n m e n t
94
..........
F r a n k fo r t-o n -M a iu 3 4 s s e r 1 . . M-S
T h es e a r e p r ic e 5 on th e oa& is ot
96
..........
U S o f M e x i c o s I g 5 s o f 1 8 9 9 Q -J
1 h ese a r e p r
S ta te S e c u r itie s
A la b a m a c la s s A 4 to 5 ____1900 J - J
1 0 4 * 2 ..........
C la ss B 5 s ..............................1 9 0 0 J - J
C la ss U 4 s ..............................1900 J - J
C u r r e n c y la n d in g 4 s ___ 1920 J -J
D is t ot C o lu m b ia 3*6 5 s____1924 F -A 121
..........
L o u is ia n a n e w c o n s o l 4 s . . 1914 J -J
1 0 6 ..........
S m a l l ................................................
M is s o u r i fu n d in g ___ 1 8 9 4 -1 9 9 5 J - J
N o r t h C a r o lin a c o n s o l 4 s . 1910 J - J
0 s ...............................................1 9 1 9 A -0
feo C a ro lin a 4 4 s 2 0 -4 0 .........1933 J -J
T e u u n e w s e t t le m e n t 3 s . .1 9 1 3 J - J
9S
Sait
S m a l l ................................................ J - J
9 4 * 4 ..........
V ir g in ia fu n d d e b t 2 - 3 s . . . l 9 9 1 J - J
J -J
Os d e te r r e d B r o w n B r o s c t f s .
........
9*2
R a ilr o a d
la b a m a C e n t s e e S o R y
ia b a M u ll b e e 8 a v F la
W
A lb a n y A S u s q b e e D e l A H u d
A lle g h e n y V a lle y b e e P e n n R K
A l l e g A W e s t b e e B u ll R A P
A m D ock A i m x e e C e u to fN J
A n n A r b o r 1 s t g 4 s .......... /t l9 9 5 Q -J
A fe ll T A 8 F e g e n g 4 s . . . 1995 A -O
A -O
A d ju s t m e n t g 4 s ............ /t l9 9 5 N o v
R e g i s t e r e d .................... 7*1995 N ov
S t a m p e d ......................A 1995 M -X
C lu e A 8 t L o u is 1 s t 6 s . .1 9 1 5 VI-S
A t l K n o x A N o r 1 st g 5 s . . 1 9 4 0 J -D
A t la n t i c C o a st 1 s t g 4 s ./t l 9 5 2 M -S
A t la n t i c A D a n v b e e S o u th R y
A t la n t i c A Y a d k b e e S o u th R y
A u s t in A N W b e e S o u P a c ific
I >at C r e e k A S b e e M i d i C e n i
A > a lt a O h io p r i o r i g 3 4 s . 1 9 2 5 J - J
Q -J
G o ld 4 s ..............................7 tl9 4 8 A -O
Q-J
C o n v d e b 4 s ..................... 1911
ivl-b
P J u n A M D i v I s t g 3 4 s l 9 2 5 M-N
R e g i s t e r e d ................... p l 9 2 5 Q -F
P L E A W V a S y s r e f 4 s l9 4 1 M-N
S o u th w D iv 1 s t g 3 4 s . . . 1 9 2 5 J - J
Q-J
M o n o n l i i v 1 s t g u g 5 s . . 1 9 1 9 F -A
C e n O h io R 1 s t c g 4 4 s . . 1930 M -S
B e e ch C reek b ee N Y C A H
B e lle v A C a r b e e I l lin o is C en t
B k ly n A M o n ta n k ' bee L o n g 1
B r u n s A W e s t b ee S a v F I A W
B u ita lo N Y A E r ie b e e E r ie
B u ila lo R A P g e n g 5 s . . . 1937 M-S
A l l A W e s t 1 s t g 4 s g u . . 1998 A -O
C l A M a li 1 s t g u g 5 s ___ 1943 J -J
R o e h A P it t s 1 s t g 0 s . . . 1921 F -A
J o n s o l 1 st g Os...............1922 J -D
B u ila lo A S o u t h w e s t z e e E rie
B utt A S u sq 1 st r e f g 4 s.t7 l9 5 1 J '-J
R e g is t e r e d ...............
d l9 5 1 J -J
B u r C e d a r R A N o 1 s t 5 s . 1 9 0 0 |J -D
C on 1 st A c o l t r u s t g 5 s . . l 9 3 4 A -O
R e g i s t e r e d ........................ 1934 A -O
C R i F A N W 1 s t g u 5 s . 1921 A -O
M A S t Li 1 st g u g 7 s ___ 1927 J -D
ia n a d a S o u th 1 s t 5 s ........ 1 9 0 s J -J
^ 2 d 5 s ..................................... 1913 i*l- S
•VIC a rb A S h a w n b e e 111 C en t
C a ro lin a C e n t S e e S e a b A K o a n
C a r th a g e & A d S ee s Y c a H
C e d It l a F A N b e e B C K A N
C en B r a n c h U P 1 s t g 4 s . . . 1 9 4 s J -D
C en B ra n ch R y b ee M o Pac
C e n tr a l O h io b ee B a lti A O h io
C e n R R A B o f G a c o l g 5 s 1 9 3 < A/I-X
C e n t ot G a R R 1 st g 5 s . . p l 9 4 5 F -A
R e g i s t e r e d ........................p l 9 4 5 F -A
C o n s o l g o l d 5 s .................... 1945 M-N
R e g is t e r e d ........................ 1945 M-N
1 s t p i e f in c o m e g 5 s ___ p l 9 4 5 O ct
2 d p re t in c o m e g 5 s
p i 945 UCt
3 d p re t in c o m e g 5 s ___ p l 9 4 5 O ct
C lia tt D iv p u r m o n g 4 8 .1 9 5 1 J -D
M a c A N o r D iv 1 s t g 5 s . 1940 |J -J
M id G a A A t l D i v o s ___ 1947 J -J
M o b ile D iv 1 s t g o s ........ 1940 J - J
C e n t o f N J g e n ’ l g o ld o s . 1 9 8 7 i j - j
R e g i s t e r e d .................... 7il9S 7 , y - j
A m D o c k A Im p g u 5 s . .1 9 2 1 j J - J

1

H ig n A o l L ow

A sk L ow

U. S. G overn m en t
U
u

*0

FOUR

107*4 107*4
107*4 107*8
107 J ’ n e ’ O'J
107*4 M a y ’ 03
110*4 110*4
111 *8 M a v !03
136 M a v ’ 03
137 *2 M a r ’ 03
103*4 D e c ’ 02
103*4 M a r ’ 03

1| 107 108*2
11 1 0 7 * 8 1 0 9
107*0108*2
109 111*4
109*4 112
135 136*2
136 137*2

li
.. .- I
S lO
....
—

103

103*e

95 *2 F e b ’ 02
lo u r m a r k s to 0 n e d o Liar.
9 8 A p r ’ 03
96*2 98*6
ices 0 n th e 0 asis 0 / So to Jd.
104*8 S e p ’ 02
109*4 O c t ’ 00
102*2 M a r ’ 02
111 M a r ’02
121 M a r ’ 03
1 0 6 A p r ’ 03
109*2 F e b ’ 99

121
106

194 N o v ’ 02
136*2 J ’ ly ?01
120 M a r ’ 90
96
96
94*4 M a y ’ 03
98*2 O c t ’ 02
8

*2

6

121
106

95
94*4

A p r ’ 03

8*a

97
94*4
12

A

C

ri
95
93*2
.......... 95*4 94*4
2
7
0
100*4 S ale l o u
100*2
99*2
.......... 99*4 102*8 F e b ’ 03 . . . . 102*8
91*8 S a le
91
91*4 38 89*2
94*2 A p r ’ 02
89*2 S ale
88*4
«S9 *2 2 0
88*4
9 4 ^ S ale

94

94*4

114*2 O c t ’ 02
94*2
94*4 1 »7

94
94*2

94*4
J a n ’ 03

93*4

Sale 1 0 1 78
1 0 2 78 2 2 1
102*8
5
1 0 2 5b Sale 1 0 2 * 8
*iu o
.......... 103 A p r ’ 03
.......... 90*4 90*2 M a y ’ 03 . . . .

95

100*8 102*8
100
106

89

5
95*2
95*2
89
89*4 138
90*4 J ’l y ’ 02
114*4 J ’ n e ’ 02
1 0 8 S e p ’ 02

91

95*4 97*S7*2 89*4

BONDS
N. Y . STOCK E X C H A N G E
W e e k E n d in g M a y 15

Co--o

P r ic e
F r id a y
M ay 15

W eek 's
R a n g e or
L a s t b a le

B ia
A s k L ow
C e n tr a l o f N J — (C o n tin u e d )
H igh
L e A H ud R gen g u g 5s 1920
J
L e h A W ilk s B C o a l 5 s . . 1912
N 100*4 ^ale L0034 1 0 0 34
101*4 101*2 101*4
C on e x t g u a r 4 4 s ____< /1 9 lo
51 1 01
N Y" A L o n g B r g e n g 4 s 1941
S
C e n t P a c ific b e e S o P a c ific Co
C h a rle s A S a v 1 s t g 7 s ___ 1930 j J
111 M a r ’ 03
d i e s A O h io g 6 s s e r A . . / t l 9 0 8 a o 108
112 113
113
113
G o l d 6 s ................................. a l 9 l l A 1 16
l s t c o n s o l g 5 s .................... 1939 M116*4 116*2
121 J ’ n e ’ 01
R e g is t e r e d ........................1 9 3 9 m X
G e n e ra l g o ld 4 4 s .............. 1 992 jvi- s 1 0 4 4 S ale 10438
104*2
103 A p r ’ 01
R e g is t e r e d ........................1992 ,vi- s
112
C r a ig V a lle y 1 s t g 5 s ___ 194u j . J * i i i ” i i 6 * 112
R A A D iv 1 s t c o n g 4 s . . 1 9 8 9 j . J 1 0 3 4 104
103*2 M a y ’ 03
97
98
98 M a y ’ 03
2 d c o n s o l g 4 s .................. 1 9 8 9 j . J
W a r m S p r V a l 1 s t g 5 s . .1 9 4 1 M- s
1 0 6 4 O c t ’ 02
G r e e n b r ie r R y l s t g u g i s ’ 4 0 m - N
1 0 1 34 M a r ’ 03
C h ic A A l t R R 3 fu n d 6 s . . 1 9 0 3 im -N
S2
82
R e fu n d in g g 3 s ..................19491A - O
8 l 76
R e g is t e r e d ........................19491 a - O
S ale
ii
R a i l w a y 1 s t lie n 3 4 s . . .1 9 5 0 j J
7 6 78
77H
R e g is t e r e d ........................ 1950 j J
8 3 34 A p r ’ 02
C h ic B u r & Q c o n s o l 7 s . . . 1903 j J 103
103
I0 3 * s
10 4 34 A p r ’ 00
C h ic A I o w a D iv 5 s .......... 1 9 0 5 f A
........ 100 A p r ’ 03
D e n v e r D i v 4 s .................... 1922 f A 10 0
9 6 S a le
I l lin o is D i v 3 4 s ................ 1 9 4 9 j J
96
96
R e g is t e r e d ........................1 9 4 9 j J
I o w a D i v s in k fu n d 5 s . . 1 9 1 9 a O I I O 8 3 ........ 1 1 4 :*s A u g ’ 02
S in k in g fu n d 4 s .............. 1 9 1 9 a O 1 0 1 * 8 ........ 1 0 1 5b A p r ’ 03
N e b r a s k a E x t e n s io n 4 s . 1927 m N 107 % S ale 107*8 107
109*2 A u g ’ 01
R e g is t e r e d ........................ 1927 M X
95
100 M a r ’02
S o u th w e s te r n D i v 4 s ___ 1921 m S
J o m t b on d s bee G rea t N orth
D e b e n tu r e 5 s ...................... 1913
•N 105*8 1 0 5 34 104*8 M a y ’ 03
1 1 4 3b A p r ’ 03
H a n A S t J o s c o n s o l 6 s . . 1911
S 1 1 4 5b 115
C h ic A E 111 1 s t 8 f c u r 6 s . 1907
D 1 1 0 * 4 .......... 110 M a y ’ 03
1 s t c o n s o l g 6 s .................... 1 9 3 4
O 1 3 0 4 .......... 131 M a y ’ 03
G e n e r a l c o n s o l 1 s t 5 s ___ 1 9 3 7
N 1 1 5 4 1 1 6 4 116*2 1 1634
120 D e c ’ 02
N
C h ic A I n d C R y 1 s t 5 s . 1 9 3 6
120*8 F e b ’ 03
J 118*2
C h ic a g o A E r ie S ee E r ie
C h ic I n A L o u is v r e f 6 s . ..1 9 4 7
129
12 9
J 129*4 1 3 0
112
1 1 1 * 2 M a y ’ 03
R e fu n d i n g g o ld 5 s ............ 1947
J ill
L o u is v N A A C h 1 s t 6 s . 1 910
J 111*8....... 1103s M a y ’0 3
178 M a y ’ 03
C h ic M il A S t P a u l c o u 7s 1905
J
........ . 111
T e r m in a l g o ld 5 s ...............1914
111
J Ill
1 1 0 34
G e n e r a l g 4 s s e r ie s A . . e l 9 8 9
J 1 1 0 34 S ale 110
111 D e c ’ 02
R e g is t e r e d ......................e l9 8 9
J
1 0 4 34 J a n ’ 02
G e n e r a l g 3 4 s s e r ie s B .e l9 8 9
J
R e g is t e r e d ..................... e l 989
J
11 6 * 2 A p r ’ 03
C h ic A L S u D i v g 5 s ___ 1921
J 116*4
C h ic A M o R iv D i v 5 s . . . 1 926
J 118*8 S ale 118*2 118*,
C h ic A P a c D iv 6 s ............ 1 9 1 0
113 *4 M a r ’ 03
J 113*8
C lu e A P W 1 s t g 5 s ........ 1921
J 117*4 s a le 117*4 117*4
1 11 % M a y ’ 03
J 111*4
130*4
F a r A S o u a ssu g 6 s .........1924
137*2 J ’ l y ’ 99
J
H a s t A D D i v 1 st 7 s ......... 1910
•J 119*2 Sale 119*2 11 9 *
1073 b A u g ’ 02
1 s t 5 s ................................... 1 9 1 0
J 106*8
183 F e b ’ OS
I A D E x t e n 1 s t 7 s ...........1908
•J
115 M a y ’03
L a C r o s s e A D 1 st 5 s ____1919
J 114*4
109 O c t ’ 02
M in e r a l P o in t D iv 5 s ____1910
J 1 0 6 *4
113 A p r ’ 03
S o M in n D iv 1 s t 6 s ...........1 9 1 0
•J 113*8
1 1 2 * 2 51a3*’ 03
S o u th w e s t D i v 1 s t 6 s ____1 9 0 9
•J 11238
W i s A M in n D iv g 5 s ___ 1 9 2 1 1J J 116*8
117 5 ia y ’ 03
117 51ar’ 02
M il A N o 1 s t 51 L 6 s ____1910| J D 112 116
1 s t c o n s o l 6 s ___ ..............1913
•D 118*2 119
118*2 A p r ’ 03
132*4 A p r ’ 03
C h ic A N o r t h w c o n s 7 s ____1 915
F 131*8
E x t e n s io n 4 s .......... 1 8 8 6 -1 9 2 6
A 101*-. S ale L04*2 104*2
1063s O c t ’ 02
R e g is t e r e d ............ 1 8 8 6 -1 9 2 6
A
Sale
G e n e r a l g o iu 3 4 s ..............1 9 8 ”
N 1 01
99*2 1 0 1
R e g i s t e r e d ....................p l 9 S 1
F
103 N o v ’ 98
112
112
S in k in g fu n d 6 s . ..1 8 7 9 -1 9 2 9
O 1 U *2
110*8 M a y ’ 03
R e g is t e r e d ............1879-19291A O 110
10 6
106 A p r ’03
S in k in g fu n d 5 s . . . 1879-19291A
1 U6 34 M a r ’ 03
R e g is t e r e d ............1 8 7 9 -1 9 2 9 A
D e b e n t u r e 5 s ...................... 1909 M ■Ni 1 0 2 5g 105*2 105 5 1 a i’ 03
R e g is t e r e d ........................ 1 9 0 9 M N
105*2 D e c ’ 02
D e b e n t u r e 5 s ......................1 9 2 1 A •o 11 0 .......... 109 *2 A p r ’ 03
R e g is t e r e d ....................... 1 9 2 1 1A •o 1 1 3 * 2 .......... 114 O c t ’01
.......... 116*4 M a y ’ 03
S in k in g fu n d d e b 5 s ........ 1 9 3 3 :ATI •X 1 1 6
R e g is t e r e d ....................... 1 9 3 3 1M XT 116 1 1 7 76 123 M a y ’ 01
1 0 9 * 2 ..........
D es M o
M in n 1 st 7 s . .1 9 0 7 F •a
M ilw A M a d is o n 1 s t 6 s ..l9 0 5 i.M s 1 0 2 3* .......... 106 N o v ’ 02
N o r t h I llin o is 1 s t 5 s ___ 1 9 1 0 .VI •S
108 O c t ’ 02
108
O tt C F A S t P a u l 1st 5s 1909lM •8 1 0 5 34
105*8 M a y ’ 03
W in o n a A S t P e t 2 d 7 s . . 190* LU N 112*8
115*8 A p r ’ 03
M il L S A W e s t 1st g 6 s l 9 2 l | M X 130*8
131*8 131*8
E x t A I m p s f u n d g 5 s 1 9 2 9 F A U 9 70
119 *2 M a y ’ 03
A s h la n d D iv 1 st g 6 S ..1925IM •8 133*8
142*2 F e b ’ 02
M ic h D iv 1 s t g 6 s ..........1 9 2 4 1J J 1 3 3 38
133 *s 5 la y ’ 03
107 *8 F e b ’ 01
C o n v e r t ib le d e b 5 s ___ 1 9 0 7 iF A 101
I n c o m e s ............................1911IM X
114*4 S ep ’ 02
C h ic R o c k I si A P a c 6 s.._1 9 1 7 | J J 127*2 Sale 127*2 127*2
J J 126*s
126*8 1 2 6 * 8
G e n e r a l g o ld 4 s .................. 1 988 J J 106 S a it 105*8 1 0 6
R e g is t e r e d ........................ 1 988 J J
107 J a n ’ 03
C o ll t r u s t S e n e s C 4 s ...1 9 0 5 J M X
10 0 3? J ’ l y ’ 02
9 9 ?e j ’ u e ’ 0 2
H 4 s ........................................... 1 9 1 0 MX
M 4 s .......................................... 1 9 1 5 MX
9 9 * 2 J ’ ly ’ 02
XV
99*8 J ’ n e ’ 02
N 4 s ........................................... 1 9 1 6 iV
C h ic l i I A P a c R R 4 s . . 2 0 0 2 M N
84 S a le
83*4
84*4
8 8 * 4 J a n ’ 03
R e g i s t e r e d ........................ 2 0 0 2 M •N
96
D e s 51 A F t D 1 s t 4 s ____ 1 905 J ■J
9 8 3e F e b ’ 03
90
93 J a n ’ 03
l s t 2 4 s .................................1 9 0 5 J J
95
9 4 * 4 J a n ’ 03
E x t e n s io n 4 s ....................1 905 J J
107 * 2 M a y ’ 03
K e o k A D e s 51 1 st 5 s ____ 1 9 2 3 A O 10 6
108
C l i i c A S t L bee A t c l i T A S a F e
C h ic S t L A N O bee 111 C en t
C liic S t L A P it t s bee P e n n C o
C lu e S t P 51 A O c o n 6 s . .. 1 9 3 0 J
1333s M a r ’ 03
1 3 3 34
C h S t P A M in n 1 st g 6 s 1 9 l8 iM
137 A p r ’ 03
131*4
137 * 2 S ep ’ 02
N o r W is c o n s in 1 s t 6 s . ..1 9 3 0 J
S t P A S C ity 1 st g 6 s . . .1 9 1 9 A
124 .......... 1 24
124
84
C h ic a g o T e r T r a n s g 4 s . . . 1 9 4 7 1J83 *2 8 4 *2 8 4

SI

** —>
8 .0

.......... 117

116*8

5 115*4 118*2

110*8

......................

.......... 1 0 3 A p r ’ 97
1 2 5 M a r ’ 03
125*8 J a n ’ 03 —
.......... 125

119

.......... 1 0 0

103

104 7s
1 04*2105*2 i0 4 *2
1 0 6 *2 ^ a le
lU 6 *g 106*2
1 0 4 * 4 .......... 1 u 4 * 2 M a r ’03

93

..........107
.......... 1 2 0
i 0 6 *2 Sale
78
36
*2 5

Sale
S a le
26

* 1 0 5 * 2 ..........
......................
* 1 0 6 * 2 ..........
132*o 1 3 4
1 3 0 * 2 ..........
......................

93

2

100*4 104*8
120

43 103*4 104 s
2 105 *4 ] 0 S 78
104*2 104*2

93

108*4 A p r ’ 03
1 2 2 * 2 J a n ’ 03

122

105*2 106*4
105*2 S e p ’ 01
78
78
36
37*4
25
25
9 2 A u g ’ 02
108*4 S e p ’ 02
102 J ’ n e ’99
112*2 A p r ’ 02
132*4 M a y ’ 03
129 A p r ’ 93
113*4 A p r ’ 03

106

1 22

1 2 0 *2 1 2 0 * 2

F e b ’ 03

105
110
1104112
110
101*4 Sale 101*4
1 0 0 4 1 0 0 * 4 100*4
87
.......... 87
s54
104

128
125%

J ’ n e ’ 02

104 -Sale 104
104*8
* .......... 1 2 0 *2 121 A p r ’ 03
1 2 0 * 2 M a r ’03
1 1 8 119
1 1 0 * 4 .......... 1 1 8 J a n ’ 02

..........

jl2 5
125

94*4

106*2 107*2
4122*2

64 105
26
39
1

109

73*4
34
24

SO
3 9 7e
27

1284134
128*4 133*2
113
1134

B O N D .S — C o n t in u e d

1
M a v ’ 03
,103 1 0 7 4
.................
J a n ’ 99
A p r ’ 03
109*4 H O
101*4
8 .101*4 102 4
10 L
54 1100 104*4
M a y ’ 03 •••• 8 7
89*2
J a n ’ 03
8 5 4 85 4

99 7b O ct ’ 02
95 J ’ n e ’ OO

115
Sale
..........1 1 7 4

• N o p r ic e F r id a y ; la te s t p r ic e th is w e e k ,

103

N o v ’ 01

109

M ar’98

115
117

l l o * 4 19: 113
i2 0
X fa r ’Oo . .. . ||11G*4 117*4

a D ue Jan

d Due A pr

011

R ange
S in ce
J a n u a ry 1

A 0 L ow

H ig h

103 10 4
100*4 102*2

111

112

1 111*2 11 4
19 115*2 1 1 9 34

90 10234 1U634

10

83

112

112

101
93

103*2
98

101*4 103*8
80
83*2
74

79*2

34 iu‘i “ io T *;
100
94*8

101

104*8
113
110
131
43 11 6

120

108
1 1 7 78
11030
136*2
121*8

120*8

128 1 3 0 34
110*2113*0
110*811138
L78 1 7 8 .
Ill
1 1 L .
109 112

116*2116*2
117*4 118*8
112*4 1 1 3 * 4

53

1 16

117*2

111* 8111*2
L19 *8 119*4
1 83
11 4

185
115

112*2113*2
112*8 112*4
1 1 6 *8 1 1 7
118 118*2
1 3 1 7S 1 3 4
10 101 104*2
3

99

101

112

112

1 1 0 *8110*8
106
105

109*2
107*2
109

10 8

112

106*4

115*2118*2

l0 5 * b 105*8
1 15*8 1 15*s
130*4 1 3 2 *8
119*4 125
133*8 133*8
1 127
5 125*2
68 105
107

184

127*2
127
10 8
107

83*2

89
S ^*4
98*8 0S*8
92*2 93
94*4 94*4
106 10 7 *y
88*4

13 3 130*8
134*4 1 3 7
123*4 126*8
8 2 *2 S 6

-Next P a g *

Street R ailw ay
M e t S t R y — ( C o ? i;R e f g 4 s2 0 0 2
C ol A 9 tli A v l s t g u g 5 s . 1993
L e x A v A P F 1 st g u g 5 s 1 993
T h ir d A v e R R c o n g u 4 s 2 0 0 0
T h ir d A v e R y 1 s t g 5 s . . 1937
M e t W S E l (C lu e ) 1 s t g 4 s . 1 938
M il E l R y A L 3 0 -y r g 5 s . 1 926
M in n S t R y 1 st c o n g 5 s . . 1919
St J o R y L t H A P 1 s t g 5 s . 1937
S t P a u l C ity C ab c o n g 5 s . 1937
L 'n ion E l (C lu e ) 1 s t g 5 s . . 1945
U n ite d R R s S a n F r s f 4 s . 1927
U n ite d R y s S t L 1 st g 4 s . 1934
VV C h ic S t 4 0 -y r c o n s g 5 s . 1936

A -0
M-S
I.M-S
J -J
J -J
F-A
F-A
J -J
M-N
J -J
A -O
A -0
J -J
M-N

9 3 4 .......... 92 4
1 1641184 1184
1 1 6 4 1 1 8 * 4 LI 8
.......... 9 7 4 97 4
1 1 9 * 4 .......... 119*4
99 4
106
1 0 6 4 .......... 110
103
105
1 10
1094
109 4
7 9 S a le
79
85 4
99

....
...... ......

93
A p r ’ 03
M a r ’ 03
98
M a y ’ 03
M a r ’ 03
O c t ’ 99
J ’ n e ’ 02

92

964

...4 1 1 1 8 4 1 2 1
112

118 121*4
95
98*4
119*4 122
994102 4

....

109*4 113
A p r ’ 03
D e c ’ 99
80
167 77
80*4
M a y ’ 03
8 0 *4 85 78
D e c ’ 97

Gas and Electric Light

e D u e M ay

**8

97

101 * 8 1 0 4 *g
33 106*8 108*4

s

1U 1S C E L 1.A N E O U 5H
S tr e e t R a ilw a y
B r o o k ly n R a p T r g 5 s ........ 1945 A -O
J -J
J -J
B k Q C o A S c o n g u g 5 s. 1941 M-X
M
B k l y n U u E l 1st g 4-5S.1950 F-A
K i n g s C o E l 1 st g 4 s ___ 1949 F -A
N a s s a u E le c g u g 4 s ___ 1951 J -J
C ity A S R y B a it 1 st g 5 s . 1922 J -D
C o n n R y A L 1st A re £ g 4 * a S ’ 51 J -J
D e n C on T r C o 1st g 5 s . . . 1933 A -O
D e n T ra m C o co n g 6 s . .1 9 1 0 J -J
M e t R y C o 1 s t g u g 6 s . .1 9 1 1 J -J
D e t C it s t R y 1 st c o u g 5 s . 1905 J - J
O r R a p id s R y 1 st g 5 s . . . a l 9 1 6 J -D
L o u is R y C o 1 s t c o n g 5 s . .1 9 3 0 J -J
M a r k e t S t C R y 1 s t g 6 s . .1 9 1 3 J -J
M e t S t R y g e n c o l tr g 5 s . 1 9 9 7 F A
B w a y A 7 th A v 1 st e g 5s 1943 J -D

92*4

92*2 95*4
94
94*2
99*2 103*2

10

102*2

96
..........
89*8 S ale

96*4
102 7s
102*8
92*4

PAGES

A tla n ta G L C o 1 s t g 5 s . ..1 9 4 7 J -D
B k ly n U G a s 1 st c o n g 5 s . 1945 i/l-X
^ D u e j ’ne

h D u e J ’ly

A: D u e A u g

115

Sale

115

p D ue N ov

il5

{D u e D ec

13 i*147e i l 7
s O p t io n s a le

Bond Record — Continued—

M a y 16, 1903.]
U O \ l)s
N. Y. ST O C K E X C H A N G E
W

eek

E n din g M

ay

15

i v

Chictfe W e s t I net g e n gtltw /1932
C h ic & W e s t M ic h K y 5 s . . 19*21 n
C h o c O k its O g e n g 5 s ...0 1 9 1 9 j j
C in 11 ifc D c o n s o l s I 7 s . . . 19U5 A O
2d g o ld 4 Hi*.......................... 1937 J J
C ln D A I l
>8 . . . 1941 M-N
C I S t L & U S ee C C C A S t L
C in S A C
C C C St L
C le a rfie ld A M ali Afea B H A P
C le v e la n d O in C h ic A S t L o u is
G e n e r a l g 4 s .........................1993
D
C a iro D lv 1st g o ld 4 s ____1939
J
C in W A M D iv 1 st g 4 s . 1991
J
S t L D iv 1st c o l tr g 4 s . . 1990
N
R e g is t e r e d ........................ 1990
N
S p r A C ol D iv 1 st g 4 s . . 1940
S
W W V a i D iv 1 st g 4 s . . . 1940
J
C I S t L A C c o n s o l O s .. 19*20
N
1 s t g o ld 4 s ..................... A:1 9 3 0
F
R e g i s t e r e d ................ A 1930
F
C in S A C l c o n 1 st g 5 s . . 1 9 2 8
J
C C C A I c o n s o l 7 s ...........1914
D
C o n s o l s in k fu n d 7 a ___ 1914
I)
G e n e ra l c o n s o l g o ld Os. 1934
J
R e g is t e r e d .................... 1934
J
I n d B1 A W 1st p r e t 4 s . 1 9 4 0
O
O In d A W 1 st p f 5 s . . . d l 9 3 8
J
P e o A E ast 1st co n 4 s . ..1 9 4 0
O
I n c o m e 4 s .......................... 1 9 9 0 A p r
C l L o r A W li c o n 1st g 5 s . 1933
C le v A .M arietta See P e n n R R
C le v A M a liou V a l g 5 s . . .1 9 3 8
R e g is t e r e d . T.................... 1 9 3 8
C le v A P itt s S ee P e n n C o
C ol M iiU and 1 s t g 4 s .......... 1947
C o lo ra d o A S ou 1 st g 4 s . . . 19*29
C ol uni A G re e n v S ee S o R y
C o l A H o c k V a l S ee H o c k V a l
C o l C o n n A T e r m See N A W
C o n n A Pas R iv s 1 s t g 4 s . 1943 A -O
ak A G t S o S ee C M A S t P
a lia s A W a co S ee M K A T
D e l L a c k A W e s te r n 7 s . ..1 9 0 7
M o r r is A E s s e x 1 s t 7 s . ..1 9 1 4
1 s t c o n s o l g u a r 7 s ........ 1 9 1 5
R e g is t e r e d .................... 1 9 1 5
1 s t r e f g u g 3 4 s ............‘2 0 0 0
N Y L a c k A W 1 s t 6 s . . . 19*21
C o n s t r u c t io n 5 s ............ 1 9 ‘2 3
T e r m A im p r o v e 4 s ___ 19*23
S y r B in g A N Y 1 s t 7 s . . 1 9 0 6
W a r r e n 1st r e f g u g 3 4 s . *2000
D e l A H u d 1 s t P a D iv 7 s . 1917
R e g is t e r e d ........................ 1917
A l b A S u s 1 st c o n g u 7 s . 1 9 0 6
R e g i s t e r e d ........................ 1 9 0 6
G u a r g o ld 6 s .................... 1 9 0 6
R e g is t e r e d ....................19 0 6
R e n s A S a ra to g a 1 s t 7 s . 1921
R e g i s t e r e d ........................ 1921
D e l R iv R R B r id g e S ec P a R l i
D e n v A R G r 1 st con g 4 s .1936
C o n s o l g o ld 4 4 s .................1 9 3 6
I m p r o v e m e n t g o ld 5 s . ..1 9 2 8
R io G r S o g u S ee R io G r S o
D e n A S W e s t g e n s 1 g 5 s 1 9 2 9 J-D
D e s M o i A F t D S ee C R A I P
D e s M A M in n S ee C li A N W
D e s M o i U u R y 1 s t g 5 s . .1 9 1 7 M-N
D e t M A T o l S ee L S A M S o
D e t A M a c k 1 s t lie n g 4 s . 1995 J -D
G o ld 4 s ....................................19 9 5 J -D
D e t S o u 1 s t g 4 s .................. 1951 J -D
O h io S o u D iv 1 st g 4 s . . . 1941 M-S
D u l A i r o n R a n g e l s t o s . . 1937 A-O
R e g is t e r e d ............................ 1937 A-O
2d 6 s ....................................... 1 9 1 6 J -J
D u l S o S h o r e A A t l g 5 s . . 1937 J -J
I J a s t o t M in n & e e S t P M A M
X j a s t T e n V a A G a S ee S o R y
E l g i n J o l A E a s t 1 st g 5 s . 1941 M-N
E lm C o r t A N o S ee L e h A N Y
E r ie 1 st e x t g o ld 4 s ...............1947
2 d e x t g o ld 5 s ...................... 1 9 1 9
3 d e x t g o ld 4 4 s .................. 19*23
4 th e x t g o ld 5 s .................... 1 9 2 0
6 tli e x t g o ld 4 s .................... 1 9 2 8
1 s t c o n s o l g o ld 7 s ...............19*20
1 s t c o n s o l g tu n d 7 s ......... 19*20
E r ie 1 s t c o n g 4 s p r i o r .. 1 9 9 6 J -J
R e g i s t e r e d ........................ 1 9 9 6
1 s t c o n s o l g e n lie n g 4 a .. 1996
R e g i s t e r e d ........................ 1 9 9 6
P e n n c o il tr g 4 s ...............1951
B u tt N Y A E r ie 1 s t 7 s . .1 9 1 6 J -D
B utt A S W g o ld 6 s .......... 1 9 0 8
S m a ll....................................1 9 0 8
C h ic A E r ie 1 s t g o ld 5 s . . 1982
Jett R R 1 s t g u g 5 s ___ a l 9 0 9
L o n g D o c k c o n s o l g 6 s . . 1935
C oal A R R 1 s t c u r g u 6 s . 19*2*2
D o c k A I m p 1 s t c u r 6 s . . 1913
N Y A G re e u L g u g 5 s . 1 9 4 6
M id R R o f N J 1 st g 6 s . 1 9 1 0
N Y S u s A W 1 s t r e f 5 s . 1937
2 d g o ld 4 4 s ...................... 1937
G e n e r a l g o ld 5 s ...............1940
T e r m in a l 1st g o ld 5 s . . . 1943
R e g i s 8 5 ,0 0 0 e a c h . . . 1 9 4 3
W il k A E a 1 s t g u g 5 s . 194*2
E r ie A P it t s S ee P e n n C o
E v a n s A T H 1 st c o n s 6 s . 1921
1 s t g e n e r a l g o ld 5 s ..........1942
M t V e r n o n 1 st g o ld 6 s . .1 9 2 3
S u ll C o B r a n c h 1 s t g 5 s . 1 9 3 0
E v A In d 1 s t co n g u g 6 s . . 1 9 2 6
I J a r g o A S o S ee C li M A S t P
X lin t & P e r e M S ee P e r e M a r

trice
F r id a y
M a y 15

W eek 's
R a n g e or
L ast S a le

iia
AsA
......... 1 1 4 4
104
..........
106 ..........

L ow
H ig h
113 4 A p r T 3
109 A p r ’ 0*_
109 M a r ’ 03
1 1 1 4 D e o ’o i
•••••• . . . . . . 113 O c t ’ 00
.......... 1 1 3 4 1 1 3 4
1134

100
93
99
100

S ale
99*4 1 0 0 4
.......... 101 4 O c t ’ 0*2
.......... 9 8 4 M a y ’ 03
.......... 101 M a y ’ 03
103 O c t ’ 0*2
••••••
102 D e o ’ 0*2
95
.......... 9 9 4 9 5
.......... 1 3 4 4
1 0 0 4 .......... 1 0 0 4
1004

R ange
_I
S in ce
T J a n u a ry 7
S o L ow H ig h
.... 11 3 4 1 1 6 4
. •••!
107 i 0 9
••••I
4 113 4 1 1 5

13s
....
....
••••
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994103
98*4 100
101 1 0 3 4
95

'95

1 1004103

.......... 1 3 3 4

1334

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104 4 N o v ’ 01
.......... 97*4
7 4 S ale
119

2 6 4 S a le
§ 9 7a S ale

3
34

98
98
73 4
74
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.......... 1 2 8
704
8 9 34

95
100
72 4 82

J ’ n e ’ 02
24
39

774
90

764
88

804
944

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113® 8.......... 113 M a r ’ 03
1 * 2 9 4 .......... 133 4 M a r ’ 03
1344
1 3 4 4 .......... 134
1 4 0 Q c t ’ 98
103
1 3 1 4 .......... 1 3 1 4 A p r ’ 03
115
A p r ’ 03
1 1 3 4 .102 4
.......... 1 0 2 4 102
1 0 9 4 .......... 1 1 3 4 F e b ’ 03
10*2 F e b ’ 03
1 3 7 4 .......... 137 M a r ’ 03
149 A u g ’ 01
1 0 7 4 .......... 1 1 1 4 F e b ’ 03
1 2 2 J 'n e ’ 99
1 0 6 O c t ’ 02
105 4 . .
1 1 1 4 F e b ’ 02
1 4 1 4 .......... 1 4 3 4 N ov ’02
147 4 J ’ n e ’ 0 ‘2

113 117
13*24 1 3 3 4
3 132
1344

tt

111

13041314
115 115
102 1 0 3
1134 1134
102 102
137 1 3 7
11141H 4

11

99
99
9 9 34 9 9
107
.......... 1 0 7 M a y ’ 03
1 0 7 4 .......... 1 0 7 4 A p r ’ 03
78

M a r ’ 03 —

98
994
1 0 4 4 107
105 1 0 7 4
78

80

.......... 8 0
89*4 S ale
.......... 1 1 3
U 3 4 ii5

113

1104114

1 1 2 4 M a r ’ 03

M a r ’ 03 —

1 1 6 4 B e c ’ 02
1 1 3 4 M a y '0 3
11*2 M a y ’ 03
117
D e c *02
1 0 9 4 J a n ’ 02
.......... 1 3 6
1354
135 4
133
.......... 1 3 2 4 A p r ’ 03
9 9 4 S ale
99
994
97
S a le
97
97
S7
3 5 34 8 6 4 8 6

1 1 4 115
..........1 1 5
110411*2
.......... 1 1 8

•

111381144

••• 1 1 2 4 1 1 4 4

•••• 1 1 3 4 1 1 3 4
. . . . 11*2 112
4 1 3 3 139
1324135
10*2 97
99 4
2 97
98
183 8 3 4 8 8
34

9*2
9*2 4 S ale
1 2 8 4 .......... 1 2 9

924
M a r ’ 03

1 1 7 4 S ale

o
118
A u g ’02
2
13 L
D e c ’ 02
A p r ’ 0*2
O c t ’ 98
M a r ’ 03
1
11*2
M a y ’ 03
M a y ’ 03 . . . .
M a y ’ 03
....
112

il7 4
106
130
........ . 131
1134
Ill
1184
109
.......... 1 0 8
109
.......... 112 4
112
..........113
1 0 0 .......... 1 0 0 4
1064
106 108
112
........ 108
112

.......... 112

121
103

.......... 1 2 2 4 M av*03
1 0 4 4 106 M a y ’03 —
112 J ’ n e ’ U2

110

116

115

BONDS
N. Y. STOCK E X C H A N G E
W e e k E n d in o M a y 15

1073
-

trice
J Y id a u
M ay 15
H id

F la C en A P en 1 s t g 5 s . ..1 9 1 8
1 st la n d g r e x t g o ld 5 8 ..1 9 3 0
C o n so l g o ld 5 a .................... 1 943
F o r t S t U D C o 1 st g 4 4 s . 1941
F t W A D e n C 1 st g 6 s ___ 1921
F t W A R io G r 1 st g 3 4 s . 19*28
j 1al H a r A S A
See S o P a c C o
\ l a l H A H o f 1 8 8 2 1 st 5 8 .1 9 1 3
G a A A la R y 1 st c o n 5 s .. o 1945
(la C a r A N o 1st g u g 5 s . . 19*29
G e o r g ia P a c ific s e e S o R y
G ila V G A N o r See S o P a c Co
G o u v A O s w e g a t S ee N Y C e n t
G ra n d R a p A in d .see P e n n R R
(i r a y ’ s P t T e r m .See S t L S W
G t N o r — C B A Q c o ll t r 4 s 19*21
R e g is t e r e d . A .................. 1 . 1921
G r e e n b r ie r R y S ee C lie s A U
G u lf A S I 1st r e f A t g 5 s 6195*2
an A S t J o S ee C B A Q
o u s a t o m o S ee N Y N H A R
H o c k V a i l s t c o u s o l g 4 4 8 -1 9 9 9
R e g is t e r e d ............................ 1999
C o l A H V 1 s t e x t g 4 s . .1 9 4 8
H o u s t E A W T e x S ee S o P a c
H o u s t A T e x C e n See S o P a c C o
llin o is C e n tr a l 1 st g 4 s . . 1951
R e g is t e r e d ........................ 1951
1 s t g o ld 3 4 s ....................... 195 1
R e g is t e r e d ........................ 1951
1 st g o ld 3 s s t e r l in g .......... 1951
R e g is t e r e d .........................1951
C o ll T r u s t g o ld 4 s ............ 1952
R e g is t e r e d ........................ 195*2
L N O A T e x g o ld 4 s ___ 1953
R e g is t e r e d ........................ 1953
C a ir o B r id g e g o ld 4 s ___ 1950
L o u is v ille D iv g o ld 3 4 8 .1 9 5 3
R e g is t e r e d ........................ 1953
M id d le D iv r e g 5 s ............ 1921
S t L o u is D iv g o ld 3 s ___ 1951
R e g is t e r e d ........................ 1951
G o ld 3 4 s ............................1951
R e g is t e r e d .................... 1951
S p r in g D iv 1 s t g 3 4 s . . . 1951
W e s te r n L in e s 1 s t g 4 s . .1 9 5 1
R e g is t e r e d ........................ 1951
B e lle v A C ar 1st 6 s ........ 19*23
C a rb A S h a w 1 s t g 4 s . . . 193*2
C liio S t L A N O g 5 s . . .1 9 5 1
R e g is t e r e d ........................ 1951
G o ld 3 4 s ............................ 1951
R e g is t e r e d .................... 1951
M e m p h D iv 1 st g 4 s . ..1 9 5 1
R e g i s t e r e d .................... 1951
S t L S o u 1 s t g u g 4 s ___ 1931

<
W eek 's
R a n ge or
L a st S a te

A s k L aw
lo o

|

111

R ange
S in ce
J an u ary t

H ig h 1A o |L o w
S e p UO

H ig h

J -J
J -J
J -J
J -J
J -D
J -J

103 4 .......... 1 0 6 4 F e b ’ o J
105 M a r '9 8 , . . . i
22 107
Ill
S a le 111
111
8 82
82 S a le
8*2
83 4

A -O
J -J
J -J

103 A p r ’ ('3 . . . . 1 0 0 4 1 0 5
..........10 4
1 109 1 0 9 4
1094
1 0 9 4 ......... 1 0 9 4
109 4 .......... 1 0 8 4 M a r’ O;; . . . . 108*4 110 4

J -J
Q -J

9 4 4 S ale

J -J

944
94 4

203
95
1
944

112*4
85

91
90

95
944

1 0 6 4 M a r’ 03 . . . . 10 4

1064

I

J -J
r ..i
A -O

1 0 7 4 S ale

J -J
.1 - .T
J -J
J -J
M- S
M- 8
A -O
A-(>
M-N
M-N
J -D
J -J
J -J
F -A
j.j
J -J
J -J
J -J
j .j
F -A
F-A
J .J)
M S
J -D
J -D
J -D
J -D
J -D
J -D
M-S

113

1074

1074

17 1 0 5 4 1 0 9 4

.......... . . . . . . 1 0 5 4 M a r ’ 03 —

105*4 105*4

.......... 113

A p r ’ 03
11241134
M a r’ o o
1 0 1 4 A p r ’ 03 •••• 1 0 1 34 101*4
9 4 M a r ’ 03 . . . .
94
94
113 4

i 0 3 4 .......... 104
102
1 0 2 4 104
10*2 4
1044
1004
95
11 2

123 M a y ’ 99
87 4 M a y ’02

984
101 4
lo o
1 0 7 4 .......... lO S ^

..........1 2 6 4

1 07
........
J -J
J -J
J - J * .......... 1 0 1 4
1214
M-N * 1 1 9
9 8 S a le
M -S
3 d g o ld 4 s ............................ 1921 M -S .......... 7 3 4
I o w a C e n tr a l 1 s t g o ld 5 s . . 1938 J -I) 1 1 3 4 1 1 5
R e fu n d in g g 4 s ................. 1951 M -S
9 1 S a le
J e tfe r s o n R R s e e E r ie
ai A A G R S ee L S A M S
an A M ic h S ee T o l A O C
K C F t S A M. S ee S t L<fe S P
^ O. J. ^ - A -O 1 0 5 ..........
K a n C A P a c ific S ee M K A
69 4 Sale
A -O
A -O
K e n t u c k y C e n t S ee L A N
K e o k A D e s M o S ee C R I &
K n o x v il le A O h io S ee S o R y
1 1 9 S ale
a k e E r ie A W 1 s t g 5 s . .1 9 3 7 J -J
2 d g o ld 5 s .........................1941 J - J
11341144
N o r t h O h io 1 s t g u g 5 s . . 1945 A -O 1 1 1
..........
L S lio A M ush S See N Y C ent
L e h ig h V a l (P a ) c o il g 5 s . 1997 M-N 1 04
R e g is t e r e d 5 s .....................1997 M-N
L e h V a l N Y 1 s t g u g 4 4 s . 1940 J - J
.......... 108*4
J -J
L e h V T e r R y 1 st g u g 5 s . 1941 A -O 11 3 4 ..........
R e g is t e r e d ...........................1941 A -O
L e h V C o a l C o 1 st g u g 5 s . 1933 J -J
1 0 6 4 ..........
R e g is t e r e d ...........................1933 J - J
L e li A N Y 1 st g u a r g 4 s . . 1945 M-S
*934 95
M -S
E l C A N 1 s t g 1 st p f 6 s . 1914 A -O
A -O
L eh A H u d R S ee C e n t o f N J
L e h A W ilk e s b S ee C e n t o f N J
L e r o y A C a n e y V a l S ee M o P
L o u g D o c k S ee E rie
L o n g Is la n d 1 st c o n g 5 s ./il 9 3 1 Q -J
1 s t c o n s o l g o ld 4 s .......... /il9 3 1 Q -J
J -D 102
..........
F erry
M -S 101 102
J -D
M -S
99
S a le
J -D
B k ly n A M o n t 1 st g 6 s . .1 9 1 1 M -S 1 1 1 4 1 1 4
1 st 5 s ...................................1911 M -S 1 05
..........
N Y B A M B 1 s t c o n g 5 s 1936 A -O
N Y A l i B 1 st g 5 s ........ 1927 M -S
N o r S h B 1st c o n g g u 5 s o l 9 3 2 Q -J
J -D 117
..........
M-N I l l
.........
U n itied
J -J
1 0 1 4 S a le
J -J
C oll tr u s t g o ld o s ..............1931 M-N 111
112
C e c ilia n B r a n c h 7 s .......... 1
M -S
J -D 1 1 4 4 ........
E H A N a s h 1 st g 6 s ___ 1
L C in A L e x g o ld 4 4 s . . . 1931 M-N 105
..........
N O A M 1 st g o ld 6 s ___ 1
J -J
1 2 6 129
N O A M 2 d g o ld 6 s ........ 1
J- J

i i ’0 2 4 1 0 4
104
O ct ’ 01
M a y ’ 03 . . . . !102*4 103 4
M a y ’ 02
M a r ’ 03 . . . . 1 0 6 4 1 0 6 4
2 95
95
95

O c t ’ 02
O c t ’ 99
N o v ’ OO
M a r ’ 03 . . . . 10838 111

124 M a y ’ Ol
9 0 N o v ’ 98
125 4 J a n ’ 03
126 4 N o v '02
104*8 A p r ’ 02

125 4 1 2 5 4

1 0 6 4 J a u ’ 03 . . . .

1 0 6 4 IOC 4

101

M a r ’ 02

107 4 M a r ’ 03
1074107 4
1 0 7 4 D e c ’ 02
1 984102
102
10 2
1224
1 2 2 4 10 119
1234
5 96
100
98
98 4
75
7 4 4 F e b ’ 03 •••• 7 0
3 112
11 5 4
1144
1144
6 91
91
92
934

K

F e b *01

9 3 4 F e b *03 . . . .
934 934
9 3 4 A p r ’ 03
934 934
8 4 J a n ’ 03
84
85
5 89
92
894
894
8 1094114
1124
113

974100

i

H

1 1 4 4 .......... 115 N o v ’ 0*2
1 3 4 4 J a u ’02
13*2

Page

88
1*29

944
130 4

11741214
130

1344

11241124
109
114
9 7 4 103
106 1 0 6 4
108 117
|ilO

112

120
103

1224
106

M a y ’ U2

L

f.9 4
70
6 3 4 O c t ’ 00

119
113
111

20

67®8

714

119
1 118*4 1 2 0
M a y ’0 3 . . . . 113
1134
A p r ’ 03 —
H i
1144

1 1 0 4 F e b ’ 02
1084
109 4
1174
30 9 4
1084

1084
J ’ n e ’ 02
D e c ’ 02
O c t ’ 99
S e p ’ 02

96

M a y ’ 03

5 1074 1084

93 4

97

10 0

M a r ’ 03 . . . .

100

10 0

118

J a n ’ 03 . . . . 118

118

101 4
101
100
99
111

M a y ’ 03
M a y ’ 03
O c t ’ 00
99
J a n ’ 02

1014 1024
101
102
5

9741004

105 4
112
112*0
11*2 ^
1104
113

M a r ’ 03
1054 1054
M a r ’ 02
J a n ’ 02
A p r ’ 02
2 i 15 4 1 1 7
116*4
A p r ’ 03 . . . . 1 1 1 4 1 1 2
1 0 0 4
1 0 1 4 72 9 8 4 1 0 1 4
100 J a n ’ 02 —
112 M a y ’ 03
ii0 4 U 3 4
106 D e c ’ 00
111 4 M a r ’ 03 ...J 1 1 1 4 1 1 1 4
1 0 8 4 J a u ’ 03 . . . . 1 0 8 4 1 0 8 4
5125
129
12 8 4
128 4
124 A p r ’ 0*2

MISCELLANEOUS* BONDS—Continued on Next Base.
Gn«* and Electric Light
B u ffa lo G a s 1 st g 5 s ............ 1947
C h G L A O (Jo See P G A O C o
C o lu m b u s G a s 1 st g 5 s ___ 193*2
C on G as C o s e e P G A C C o
D e t r o it C ity G a s g 5 s ......... 1 9 2 3
D e t G as C o c o n 1 st g 5 s . . .1 9 1 8
E d E l 111 B k n See K C o E L A P
E d E I LI See N Y G A E L I I A P
E q G L N Y 1 s t c o n g 5 s . . 1932
E q G A F u e l See P G A C Co
G a s A E le c B e r g C o c g 5 s . 1949
G r R a p G L C o 1 st g 5 s . . . 1915
K in g s C o E l L A P g 5 s . ..1 9 3 7
P u r c h a s e m o n e y 6 s ......... 1997
E d E l 11 B k n 1 st c o n g 4 s 1939
L a c G a s L o f S t L 1 st g o s . e l 9 1 9
M ilw a u k e e G a s L 1 st 4 s . . 1927
M u t F u e l G a s C o See P e o p G a s

Ga* and Electric Light
A-O
J -J

77*4
107

J -J
F -A

98

M -S

114

J -D
F -A
A -O
A -O
J -J
Q -F
M-N

78*4

78

1

78

76

794

..........
99

98
104

99
M a y ’ 02

117

D e c ’ 02

7

96

99

6 1 4 O c t ’ 01
1 0 7 3i D e c ’ 00

1184121
94
106

96
106

i2 5
95
107
95

M a r ’ 03
A p r ’ 03
M a y '0 3
J ’ l y ’ 02

N ew a rk C ons G as c o u g 5s 1948
N Y G E L H A P g 5 s . . .1 9 4 8
P u r c h a s e m o n e y g 4 s . ..1 9 4 9
E d E l 111 1 s t c o n v g 5 s . . 1 9 1 0
1st c o n s o l g o ld 5 s ..........1 995
N Y A Q E 1 L A P 1 st c o n g 5 s l9 3 0

R e fu n d in :
i ‘2 0
95
105
—

i2 5
964
1084
T r e n t o n G A E l 1 st

J -D
J -D 109*4 S ale
F-A
9 2 4 S ale
M -S 104 4 ..........
J -J
1 1 8 4 ..........
F -A ..........102
M- s
M-N 100 ..........
J -D 1 0 3 4 .........
A -O * ..........121
M -S 1 0 5 4 ..........
J -J
1 0 8 109
J -D 10 7 S ale
J -J
1 0 3 4 105
M-N * ..........10 7
J -D *1 0 3
105
M -S
J -J

1094
109*4
924
93
1044
105
119 A p r ’ 03
102
103

15 107
30 90*8
5 104
__ | 119
10 102

1 0 2 ;4 M a r ’ 03
102 *8 M a r ’ 03
12 0
12 0
1 0 5 4 A p r ’ 03
109
10 9
1064
107
103
103
105 F e b ’ 03

102*8 103 4
102
102 4
1*254
i 120
105
1074
2 106*4 109
19 1 0 6 4 1 0 8 4
1 10*2 1 0 3 4
104 10 5

1 09

112
97 4
107
11 9
1074

F e b *01

• No price Friday; latest bid and asked this week. aDueJan bDueFeb dDueApr eDue May A D u eJ ’ly ZcDueAug o Due Oct ? Due Deo sOptionsalt

[VOL. LX XV I,

Bond Record— Continued— Page 3

1074
BONDS
N . Y . STOCK E X C H A N G E
W e e k E nding m a y 15

-a

L ouisy <fc N ashv—(Continued j
Pensacola D iv gold 6 s . . .1020 VI- s
S t L D iv 1st gold 6 s ....... 1921 VI-s
2d gold 3 s.......................1980 VI-s
H ender Bdge 1st s t g 6 s .l9 3 1 M-S
K en tu ck y Cent gold 4 s .. 1987 J - J
L & N & M 6c M 1st g 4 4 « 1945 M-S
L<fc N -South M jo in t 48.1952 J - J
N Fla 6c S 1st gu a 5 s ...1937 F-A
P ens & A tl 1st gu g 6 s .. 1921 F A
S 6c N A la con gu g 5 s.. 1936 F -A
S in k lu n d gold 6 s .........1910 A-O
L <fc J ett Bdge Co gu g 4 s .. 1945 .VI- s
L N A 6c Cli See C 1 & L
ahon Coal See L S <fc M S
anhattan Ky consol 4s. 1990 A-O
R egistered..................1990 A-O
M etropol El 1st g 6 s ....1 9 0 8 J - J
Man S W Coloniz g 5s___1934 J -P
M cK ’pt & B V See N Y Cent
M etropolitan El See Man Ry
M ex Cent consol gold 4 s .. 1911 J - J
1st consol incom e g 3 s.a l9 3 9 J ’ ly
2d consol incom e g 3 s ..a l9 3 9 J ’ ly
E quip 6c coll gold 5 s....... 1917 A-O
2d series gold 5s.......... 1919
Coll tr g 4 4 s 1st S er___1907 F -A
M ex Internal 1st con g 4s. 1977 M-S
Stamped guaranteed___1977 M-S
M ex N orth 1st gold 6 s ___1910 J -D
M id i Cent See N Y Cent
M id ot N J See Erie
M il L S & W See Chic & N W
M il 6c Mad See Chic 6c N W
M il 6c N orth See Oh M 6c St P
M inn 6c St L 1st gold 7 s .. 1927 J -P
Iow a E x 1st gold 7s....... 1909 J -D
Pacilic E x 1st gold 6 s . . . 1921 A-O
South W est E x 1st g 7s. 1910 J -D
1st consol gold 5s.............1934 M-N
1st and refund gold 4 s .. 1949 M-S
M inn Sc St L gu See B C K ib A '
M e t ! 1 st 5s stpd 4s int gu 1936 J - J
M S S M & A 1st g 4 int gu 1926 J - J
M S t P & S S M con g 4 int g u ’38 J - J
M m n U n See St P M AsM
Mo Kan 6c T ex 1st g 4 s ... 1990 J -P
2d gold 4 s ........................ yl99U F -A
1st ext gold 5 s.................. 1944 M-N
St L D iv 1st ret g 4 s . . . . 2001 A-O
P a l 6c W a 1st gu g 5 s ... 1940 \I-N
K an C 6c Pac 1st g 4 s ... 1990 M -S
M K 6c T ot T 1st gu g 5 s . 1942 J -D
Slier Sh 6c So 1st gu g 5s. 1943 F -A
T ebo 6c N eoslio 1st 7 s ... 1903 J -P
Mo K & E 1st gu g 5 s....... 1942 A-O
M issouri P acilic 3d 7 s....... 1906 M-N
1st consol gold 6 s.............1920 M-N
T ru st gold 5s stam ped.al91 M-S
R e g is te r e d ................. a-191 M-S
1st coll gold 5 s..................1920 F -A
Cent B r R y 1st gu g 4 s.1919 F -A
L eroy & C V A L 1st g 5s 1926 J - J
P ac R ot M o 1st ex g 4s. 1938 F -A
2d extended gold 5 s ... 1938 J - J
St L Ir M 6c Sgen cun g 5sl931 A-O
Gen con stamp gtd g 5s 1931 A-O
U nified 6c ref gold 4 s.. 1929 J - J
V erdi V I Sc W 1st g 5s. 1926 ,VI- s
M ob 6c Birm prior lien g 5s 1945 J - J
M ortgage gold 4 s .............1945 J - J
M ob Jack 6c K C 1st g 5s. 1946 J -p
M ob 6c Ohio new gold 6 s .. 1927 J -D
1st extension gold 6 s../tl9 2 7 Q-J
G eneral gold 4 s ................ 1938 M - S
M ontgom P iv 1st g 5 s.. 1947 F -A
St L & Cairo coll g 4 s ..e l 930 Q -F
Guaranteed g 4 s .......... 1931 J - J
M 6c O coll 4s See Southern
M ohawk 6c Mill See N Y C & H
M onongaliela R iv See B 6c O
M ont Cent See St P M & M
M organ’ s La & T See 8 P Co
M orris & Essex See P el L 6c W
“VJ asli Chat & St L 1st 7s. 1913 J - J
1st consol gold 5 s.........1928 A-O
Jasper Branch 1st g 6 s .. 1923 J - J
M cM M W 6c A i 1st 6 s ..1917 J -J
T 6c P Branch 1st 6 s . . ..1917 J - J
Nash Flor 6c Shet See L A N
N a to t M ex prior lien 4 4 s . 1926 J - J
1st consol 4 s ....................1951 A -O
N ew H 6c P Nee N Y N H & H
N J June R R See N Y Cent
N ew A Cin B dge Nee Penn Co
N O A N E prior lien g 6 s #1915 A -O
N Y Bkln A Man Bell See L I
N Y Cent A H R iv g 3 4 s . 1997 J - J
R egistered..................... 1997 J - J
P eben tu re 5s o t . . . 1884-1904 M - S
R egistered.......... 1884-1904 M - S
R egist deb 5s o t . . . 1889-1904 M - S
P eben tu re g 4 s___1890-1905 J -P
R egistered.......... 1890-1905 J -P
D ebt certs ex t g 4 s.........1905 M-N
R egistered..................... 1905 M-N
Lake Shore coll g 3 4 s . . . 1998 F -A
R egistered..................... 1998 F-A
M ich Cent coll g 3 4 s ___ 1998 F-A
R egistered..................... 1998 F-A
Beech Creek 1st g u g 4 s . 1936 J - J
R egistered..................... 1936 J - J
2d gu gold 5 s............... i 936 J - J
B eech Cr E x t 1st g 3 4 s 51951 A -O
Cart A A d 1st gu g 4 s ... 1981 J -D
Clearf Bit Coal 1st s 14s. 1940 J -J
G ouv A Os we 1st g u g 5s 1942 J -P
M oll A M ai 1st gu g 4 s .. 1991 M - S
Incom e 5 s .......................1992 Sep

M

P ric e
F rid a y .
M ay 15

......... 118

99 .........
....... . 1 08 P
92 Sale

... ...

1 1 1 4 .........
109 .........

102
111

^

„. . .

L 014 102
1037a P e c ’02
1 1 1 4 111
1114

95*8 Sale

79
264
17 4

146
6

21
80
2 8 4 997
IS 4 302

95
954
9 0 4 J ’l y ’01

......... 105

1444147

81

M a y ’OO

123 .........
1 1 8 4 .........
* 1 1 5 * 4 .........
10041014

1444
1164
1234
121
117
101

A p r ’ 03
F e b ’ 03 . . . .
A p r ’ 03 . . . .
J a n ’ 02
A p r ’ 03 . . . .
101
1

* ......... 100 ^

103
98

X o v ’Ol
A p r ’01

100
82
101

Sale
9 9 4 100
82 4
8 2 4 82 4
105
102
103
86 O c t ’02
106 Sep *02
......... 106
*90
8 8 4 ......... 90
102 103
103
103
105 4 J ’l y ’02

1 0 8 4 .........
107 4 1 0 9 4
118 120
105 4 Sale
105 Sale
90 4 .........
* 98 ........
1 0 3 4 .........
1 1 2 4 .........
1 1 2 4 Sale
* ......... 112
88
884
98
1124
......... 93

105
90
100
1034
112
1124
112 4
88

1054
90 4
M a v ’01
M a y ’03
A p r ’ 03
1124
P e c ’02
884

14441454
1164 1164
12341234
117
98

13 0 4

103*4

32 9 7 4 1 0 0 4
15 80
85
b 101 1 0 4 4
5 8 7 4 90
10 102 1 0 5 4

124 Sale 1 2 3 4 124
1 1 2 4 ......... 1 1 2 4 1 1 2 4
113 P e c ’99
116 J ’l y ’ 02
111 P e c ’99
*1 0 2 4 1 0 3 4 1034
7 9 4 Sale
784

1 0 2 4 ......... 103
102
1 0 1 4 ......... 101 4
1024
109^
1 0 1 58 ......... 1 0 0 4
99
i oo
........... 1 0 0 4
994
9 1 4 s a le
914
* 89
90*o 90
......... 90
894
91
108 Sale 108
106
114 .........
95

53 103
20 89

....
....

1074
944

102 4 1 0 5 4
112 113
37 1 1 0 4 1 1 5
46

....

....
17
....

....

87

914

124 i ’2 7 ’4
12441254
93
97 4
114 1 1 5 4
93
93

S 1 22 4 124
2 112 115

1 10041034
1034
794
7 9 4 610 73

M a y ’03
M a r ’03
101*4
N o v ’02
S e p ’ 97
J a n ’ 03
P e c ’ 02
A p r ’03
N o v ’ 02
92
90*4
89 4
J a n ’ 03
10S
J ’n e ’98

S5

101
102

104
1054

6

101

10 34

..
__

10041004
10041004

63
3
3

89*4 9 4 4
89
91
89
924
91
91
1 1074108

...................

A p r ’ 02

BO N D .**
N . Y. STOCK E X C H A N G E
W e e k E n d in g M a y 15

Cc

N Y Cent A H R—(C ontinued)
N J June R gu 1st 4 s ... 1986
R egistered..................... 1986
N Y A Pu 1st con gu g 4s 1993
N or A M ont 1st gu g 5s. 1916
W est Shore 1st 4s gu. ..2361
R egistered.....................2361
Lake Shore consol 2d 7s. 1903
R egistered..................... 1903
Gold 3 4 s ........................ 1997
R egistered..................1997
P et Mon A Tol 1st 7s. 1906
Ka A A G R 1st gu c 5s. 193b
Mahou C’l R R 1st 5 s ..1934
Pitts M eK A Y 1st gu 6 s. 1932
101 1 0 4 4
2d guar 6 s .......................1934
M cK ees A B V 1 st g 6 s 1918
M id i Cent 1st consol 6 s. 1909
10941114
5 s ......................................1931
R egistered..................1931
4 s ......................................1940
76
80
R egistered..................1940
24
284
J L A S 1st g 3 4 s ........... 1951
14*4 18*4
Bat C A Stur 1st gu g 3s. 1989
N Y A Harlem g 3 4 s . . . 2000
R egistered..................... 2000
9 3 4 97
N Y A N orth 1st g 5 s ... 1927
R W A O con 1st ext 5s. h 1922
Os we A R 2d gu g 5 s ...e l9 1 5

1 0 8 4 108 4 13 1 0 7 4 111
111 4 A p r ’ 03 . . . . 1 0 9 4 1 1 1 4
1 119 122
119
119
105
1 0 5 4 56 102*4 1 0 7 4

1 1 0 4 J ’ly ’ 00
93 A p r ’02
102 J ’i y ’ 02
1 2 4 4 ......... 124 A p r ’ 03
1 2 4 4 A p r ’ 03
..........124
93 4 Sale
93 4
94
114 M a r ’03
93 F e b ’ 03
* 99
9 9 4 1 0 1 4 J ’n e ’02

............

Range
S in c e
Ja n u ary 1

J i i g /i A 0 L o w J l i g i i
1 1 6 4 M a r ’ 02 . . . .
1 2 5 4 A u g ’ 02 . . . .
75 J ’ n e ’02
113 N o v ’ 9 9
2 9S4100
99
100
n o 1*. M a r ’02
92
9 2 4 19 8 9 4 92
113 M a r ’ 03 . . . J 113 1 1 4 4
/ 1 1 0 4 11.3
1114 1114
115 P e c ’01
110 M a r ’03
iib
111
100 M a r ’01

Sale

* 7 9 4 80
27®8 Sale
1 8 4 Sale

102

^ 'W

A sic L ovj

B ia

......

W e e k 's
R a n ge or
L a st S a le

1 0 7 4 J ’l y ’00
1 1 0 4 D e c ’ 01

P r\ce
F rid a y
M ay 15
B id

W e e k 's
R a n g e or
L a st S a le

A sk Low

F-A 105 .........
F -A
A-O
A-O
J -J 1 1 0 4 Sale
J. -J 1 0 9 4 Sale
.T
J -D 103 .........
J -D 103 .........
J -D 1 0 2 4 .........
J -P . . . . . . . . . . . .
F-A 109
117 .........
J -J
118 .........
J -J
J - J 135 .........
J - J 132 .........
122 .........
J -J
M-S 1 1 1 4 .........
M-S 1 * 2 1 4 .........
Q-M
Jv- j
J -J
M-S
J -D
.........
r/j-x
M-N
A -O ......... 117
A-O 119 .........
F -A
M-N . . . . . . . . . . . .
U tic a A B lk R iv g u g 4 s . 1922 J - J
N Y C h ic A S t L 1 st g 4s. 1937 A-O - 1 0 2 * 4 ii>3 4
R e g is te re d ......................... 1937 A -O * ......... 103
X Y' A G re e n w L a k e S e e E r ie
X Y A H a r See X Y C A H ud
X Y L ack A W See P L A W
X Y L E A W S e e E r ie
X Y A L o n g B r S ee C e n t ot X J
X Y A X E S ee X Y X H A H
«
N Y X H A H a r 1 s t r e g 4 s .l9 0 3 J -P
C o n v e rt deb c e rts $ i, 0 0 0 ....... A-O
S m a ll c e rts $ 1 0 0 ....................
H o u s a to m c R con g 5 s .. 1937 M-N i :2 9 4 .........
X H A D e rb y con g 5 s .. 1918 M -X
X Y A X E 1 st 7 s............1905 J - J 106 4 .........
1 s t 6 s................................. 1905 J - J 104 4 .........
X Y A N o r th S e e X Y C A H
X Y O A W r e t 1 s t g 4s..</1992 M-S 101 4 Sale
R e g is $5,000 o n ly ..........jr/1992 M-S 101 Sale
X Y A P u t S ee X Y C A H
X Y A R B S e e L o n g Is la n d
X Y S A W S e e E r ie
X Yr T e x A M S e e So P ac Co
N o r A S o u th 1 st g 5 s .......... 1941 M-X
X o r f A W e s t gen g 6 s ....... 1931 M -X 1 3 0 *4 .........
F-A --------131
A-O 127 128
A-O 100 Sale
R e g is te re d .......................1996! A -O
P ocah C A C j o i n t 4 s .. 1941 J -D ......... 93 4
C C A T 1 s t g u g 5 s ......... 1922 J - J
Scio V A X E 1 s t gu g 4s 1989 M-N * 9 8 4 .........
N o r th I llin o is S e e C h i A X W
N o r t h O hio S e e L E r ie A W
N o r Pac—P r io r lie n g 4 s .. 1997 Q -J 1 0 2 4 Sale
R e g is te re d .......................1997 Q -J
7 1 4 Sale
G e n e ra l lie n g o ld 3 s___ «2047 Q -F
R e g is te r e d ...................a2047 Q -F
C B A Q col 11r 4s S e e G t N o r
S t P a u l-D u l P i v g 4 s ___ 1990 J -D
R e g is te re d .......................1996 J -D
S t P A X P gen g 6 s . . . . 1923 F -A .
R e g is te re d c e r tific ’s . . 1923 0 - F
S t P a u l A D u l 1 st 5 s___ 1931 F -A
2d 5 s ................................. 1917 A -O
1 st consol g o ld 4 s ......... 1968 J -P * 06 ^ .........
W a s h C e n t 1 s t g 4 s ......... 1948 O-M
X o r Pac T e r Co 1 s t g 6 s .. 1933 J - J
X o r R y C al S e e So Pac
X o r W is S e e S t P M A O
X o r A M o n t S ee X Y C ent
In d A W S ee C C C A S t L
0 , h io R iv e r R R 1 s t g 5s. 1936 J -P
G e n e ra l g o ld 5 s ................. 1937 A-O
O re A C al S e e So Pac Co
O re R R A N a v S e e U n Pac
O re S h o rt L in e See U n Pac
O sw ego A R om e S e e X Y C
O C F A St P See C A N W
.........
ac C oast Co 1 s t g 5 s___ 1946 J -P n o
ac o t M is s o u r i See M o Pac
P anam a 1 st s fu n d g 4 4 s . . 1917 A -O
99
S in k fu n d s u b s id y g 6 s .. 1910 M-N
P e nn Co g u 1 s t g 4 4 s ....... 1921 J - J 1 0 0 4 .........
R e g is te re d .......................... 1921 J - J * ......... 109
G u a r 3 4 s c o ll t r u s t re g .1 9 3 7 M-S
G u a r 3 4 s c o ll t r se r B ...1 9 4 1
C S t L A P 1 st con g 5s. 1932 A-O 1 1 6 4 .........
R e g is te re d ...................... 1932 A -O
1J - J 1 1 4 4 .........
:a - o 113 .........
99
M-N
9 9 4 ..
1950 F -A
S e rie s P 3 4s.
J -J
S e rie s C ........................... 1940 J - J
X A C B d ge gen gu g 4 4 s 1945 J - J i o s
P C C A S t L g u 4 4 s A .. .1 9 4 0 V-O
S e n e s B g u a r ................1942 1A-O 1 1 0 4 .........
M-N
S e rie s C g u a r ................1
S e rie s P 4s g u a r .......... 1
M-N * ......... 1 0 2 4
S enes E 3 4 g u a r g __ 1949 F -A
J -J
130
J -J
......... 130
3d 7 s ...............................n 1912 A-O
M X 100 4 .........
•J - J
96 Sale
M N
1u-M
! M-S 114 .........
C onsol

P

H ig h

105

.§ cl
A0

Range
S in c e
Ja n u ary 1
L ovj

H ig h ,

O ct ’ 02

105 4 X o v ’Ol
i 10
3104
19* 1 0 9
1 0 9 4 1 1 0 4 15 199
0 19 2 *|
1034 1034
102*4 J a n ’03 . . . . 1 ] 9 0 4
8 191
102 4
102 4
105 J a n ‘ 03 . . . . 105
114 F e b ’02
124
139

J a n ’03
J a n ’ 03

. . . 124
139

111*4

1114
193 4
lo 2 *I
195 4
105
124
139

3 112 1 1 2 4
112
112
123 4 M a r ’03 . . . . 123 4 1 2 5 4
127 J ’n e ’02
lio
L e e ’ 01
106 V> X o v ’ OO
1 1 5 4 M a y ’OO
119 4 P e c ’ 02
1 1 8 4 A p r ’ 03 . . . . 118
1 13 4 J a n ’ 02
....
I i ’0’7 4
i 0 7 4 F e b ’03
8 102
103
1034
3 102
103
103

1224
ib*7 4
105
103 **

100 P e c ’01
206 A p r ’03 . . . . 206 221
5 192 21S
192
192
131*4 A p r ’03
1128*4 131*4
1064
105
1004

101

101

101

114
133 4
128
1324
99 4
100 4
33 4
107 4
1004

5j li()5 1 0 6 4
103*4 105
5
40 99 1 0 3 4
5 1004101

106 4
105

F e b ’03
A p r ’03 . . . .
A p r ’03 . . . .
J a n ’03 . . . .
95
1 0 0 14
J a il ’ 02 ___
93 4 s i!
J ’l v ’ 01
M a y ’03

114
133
j 128
132
97*4

J154
133 4*
128
1324
1014

, 90

94

io o

ib i

102
1 0 2 4 169 1 0 1 4 1 0 4
1 100 1 0 3 4
1 0 2 4 102 4
133i 71
714
72
734
70 4 M a r ’03 ... 1 7 0 4 72 4
102 4 M a y ’ 02
125
132
118
no
964
94
1164

___ |
A p r ’03 __ 125 i'2 7
J i y ’99
X o v ’02
O c t’02
M a r ’ 03 .... 9 6 4 93
F e b ’02
M a y ’03 . . . . 1 1 5 4 1 1 6 4

1 1 4 4 M a y ’ 03
1 0 8 4 J ’l y ’02

114

6 107

no

109

1144

111

102
102
109 4
106
102
96
1224

A p r ’03 . . . . 102 102
A p r ’02
1 107*4 110
109 l4
M a r ’03 . . . . 106 109 4
N o v ’98
96
97
M a r ’03
F e b ’ 03 . . . . 1 2 2 4 1 2 3

121

O c t ’00 .... 1 1 4 4 1 1 4 4

102

X o v ’OO

1 1 4 4 J a n ’03
1104 1104
1 1 6 P F e b ’01
106 4 X o v ’02
96 J a n ’ 03
1 2 7 4 O ct ’02
128 ~ J a n ’ 03
130 A p r ’01
104 A p r ’03
95 4

10 i i 0 4 i i 2

......

....
....

96

96

.... 128

128

—

104

96 4 279

104

95 4 io 7 4

M ISC E LLA N E O U S BONDS—Continued on Next Page
Telegraph a n d T e le p h o n e
A m T e le p A T e l c o ll t r 4s 1929
C om m C able Co 1 st g 4 s ..2397
R e g is te re d ......................... 2397
E r ie T A T c o l t r g s f 5 s .. 1926
M e t T A T 1st s f g 5 s ....... 1918
M u t U n T e l Co N 'e e W e s tn U n
N Y A X J T e l gen g 5 s .. 1920
X o W e s tn T e le g S e e W e s t U n
W e s t U n io n co l t r c u r 5 s. 1938
F d a n d re a l e s t g 4 4 s . . . 1950
M u t U n T e l s fu n d 6 s . . .1911
N o r th w e s te rn T e l 7s___ 1904

C o a l am i Iro n

J - J ♦ 97 ......... 9 6 4 A p r ’ 03
Q- J ......... 9 6 4 100 4 A p r ’02
Q- J
1 0 0 4 O ct ’09
J -J
109 O c t ’99
M-X
114 X o v ’02
1 0 8 4 A p r ’ 03

M-X
J -J
M-X
M-X
J -J

964

964

10841084

109
......... 110*4 110 A p r ’03
'*21 102
102*4 Sale 1 0 2 4 103
L09
109 A p r ’UJ

no
105
109

Coal and Iron
C ah Coal M in S e e T C I A R
C le a r! B it C oal S e e X Y C A H
C ol C A i D ev Co g u g 5s. 1909 J - J
C o l F u e l Co gen g old 6 s ... 1919 M-X *1 0 7

C ol F A I Co gen s i g 5 s .. 1943
C o n v e rtib le deb g 5 s -----1911
G r R iv C oal A C 1 s t g 6 s .. 1919
J e tt A C le a r C A 1 1 s t g 5s. 1920
2d g old 5 s ........................... 1926
K a n A H C A C 1 st s f g 5 s .l9 5 1
P leas V a l Coal l s t g s f 5s. 1928
R o c li A P it C A I p u r m 5s. 1946
T c n n Coal T P iv 1 st g O s.a 1917
B u m P iv 1st co nso l 6 s .. 1917
C a ll C M Co 1st g u g 6s. 1922
De B a r C A 1 Co g u g 6s. 1910
V a I r o n Coal A C 1s t g 5s. 1949
W h L E A P C Co 1 s t g 5s. 1919

F -A
FA
A -O
J -D
J -P
J -J
J -J
M-N
A -O
J -J
J -D
F-A
M-S
J -J

103 Sale
87 Sale
......... 108

102
844
107
80
l00
105

1 0 2 *4 ____
110 -----io i” i

‘0 2

H)7
108
105
102
78
32

4

103
16 102
87 4 427 79

105
96*4

M a y ’9 7
M a y ’97
E e b ’02
O c t ’ 00
M a r ’ 03
M a r ’ 03
F e b ’00
A p r ’ 03
784
J a n ’00

1 0 6 4 1 0 7 *4
1054108
45

io i* ’
77

1 0 2

*

81

M a n u fa c tu r in g c\: In d u strial

55
......... 112

No price Friday; latest bid and asked this week,

X o v ’OO
A p r ’03

. . . .

a Due Jan

ll2

i

'12

0 Due Feb

A m e r B ic y c le s I deben 5s 1919 M-S
A m C ot O il e x t 4 4 s ........... 1915 Q -F

e Due May y P u e J ’ne

A Due J’ly

97 4

p

Due Nov

34
98

F e b ’ 03 ....
M a y ’03

s Option sale.

34
424
964101

May 16, 1903.J
B O M »
N . Y. STOCK E X C H A N G E

W

kkk

e n d in g

ponu U K—(

M

1075

Bond Record— Concluded— Page 4

ay

15

s i

R r tc e
tY id a u
M ag 15
H ia

C o n tin u e d

W eek ’ s
R a n g e or
L a st S a le

A SS Low

Consol gold 4s................. 194;> M

A lle g Y ttl gOU g u g 4 8 ...1 9 4 2 M
C l ife M u r 1st g u g 4 4 H ..1 9 3 5 «vi
10*2 4
X) K U K ife B ge 1 st gu 4s g . ’3G
108
G r R ife 1 e x 1at g u g 4 4» 1941
S un 6c L e w is l a t g 4 a ... 1930
V * \ J U K 6c C a li gen 4a. 1944
P ensacola <fe A t l S e t L ife N ash
p e o ife L a s t S e e C C C ife St L
125**
p e o ife P e k U u l a t g da-----19*21
2d g o ld 4 *3®......................b l ‘J 2 l
P e re M a rq — F ife 1* M g da. 19*20
1*20 i 22
l a t consol g old 5a....... 1939
107
P t l i u r o u D iv 1 st g 5a. 1939
109
S a g T u a ife 11 l s t g u g 4 a .1931
P in e C re e k re g g u a r da. ..1 9 3 2
P itt a C m & h i L bee PoilU Co
P itta C le v ife T o l l a t g d a .. 19*2*2
P itt a F t W ife CU s e e Penn Co
P itt a J lin e l o t g old da........19*2*2
116
P itta ife L E r ie *2d g 5 s ...o l9 2 8
111
P llla M c K e e a ife V S e e is Y Ceu
P i l l s Sh ife L L 1st g 5 a . . . 1940
l a t c o iia o l g o ld 5a.............1943
P llla ife W e a l 1 st g 4a........1917
100 4
J P M ife Co c e r tla ....................
P itt a Y ife A a h l a t cou 5a. 19*27
1 1 *2 4 ........
1 > e n d in g Co g e ii g 4a....... 1997
97 4 b ale
X V R e g is te re d .......................1997
J e rs e y C e n t c o ll g 4 a . . .1951
92 10 bale
K e ua a eiao r ife b a r s e t D ife l i
K ic k ife l>;in S e e S o u th H y
l i i c h ife A le ck S e e S o u th e rn
9 8 4 Sale
K io l i r W est- 1 st g 4a......... 1939
C onsol and col t r u s t 4s .1 94 9
89 4 b ale
U ta h C e n t l a t g u g 4 a . a l9 l7
R io G r J uno 1st g u g 5 a ... 1939
R io g r bo 1st g o ld 4 a ......... 1940
81
G u a ra n te e d ........................ 1940
K o o k ife P itta S e t U H ife P
R om e W a t ife O g S e e X Y' C ent
R u tla n d la t con g 4 4 s ____1941
R u t-C a u a d 1st g u g 4 4 s . 1949
O a g 'l'u a ife 11 s e e P ere M a rq
O a lt L a k e C 1 s t g a t d a ..1 91 3
b t J o ife w r la l 1 st g 3*4a.. 1947
89 bale
b t L a w ife A d iro u 1st g 5 a .1996
2d g o ld da............................ 1996
S t 1. ife C a iro S e e .Mob ife O hio
b t L ife Ir o n -M ount s e e -U P
t i t L K C ife X S e t W’ abaak
b t L -M B r s e e T U R A o f S t L
b t L ife S F ra il ‘2 d g da C l B 1906
1 0 3 % .......
2d g o ld ds C lass C ........... 1900
1 0 3 % .......
G e n e ra l g old da................. 1931
1*27%.......
G e n e ra l g o ld 5a................. 1931
114 1L5
t i l L ife & F K i t cons g 4 a ..’96
S o u tliw D iv 1 s t g 5 s ..1947
R e fu n d in g g 4 s ............. 1951
86 % 87
K C F t S 6c -M c o il g d a .. 192b
117
K C F t b ife -M R y r e f g 4s 1930
85
S6
R e g is te re d .......................1930
S t L o u is bo S e e il li u o i s C e n t
b t L b W 1st g 4s bd c tla .1 9 8 9
95 Sale
2d g 4s lu c bond c t fs . ..p l9 S 9
......... 83
C onsol g o ld 4 s................... 1932
83 Sale
G r a y ’s P t T e r l a t g u g 5s 1947
S t P a u l ife D ill S e e N o r P a c ific
S t P a u l M ife A la n 2d d a ... 1909
110
l a t co nso l g o ld d s ..............1933
133
R e g is te re d .......................1933
R educed to g o ld 4 4 ^ .-1 9 3 3
1103s
R e g is te re d .................. 1933
D a k o ta e x t g o ld 6 s ......... 1910
111
M o n t e x t 1 s t g o ld 4 s___ 1937
1024
R e g is te re d .......................1937
E M in n l a t d iv l a t g 5 a .. 1906
102
R e g is te re d .......................1908
N o r D iv 1st g o ld 4 s ___ 1948
M in n U n io n l a t g da___ 19*2*2
M o n t C l a t g u g da......... 1937
132
R e g is te re d .......................1937
l a t g u a r g o ld 5a........... 1937
11841194
W i l l ife S F 1st g old 5 s .. 1938
S t P ife X o r P ac s e e N o r Pac
S tP ifc S’ x C it y S e e C b t P M ifcO
S F e P re s ife P li 1 s t g 5 s ... 194*2 M-S
S A d s A P S e e b o P ac Co
S F 6c X P 1st s in k I g 5a. 1919
S a v F ife W l a t g o ld 6 s___ 1934
126
1 s t g old 5 s .......................... 1934
1134
b t J o h n ’s D iv 1 s t g 4 s. ..1 9 3 4
A la 51 id 1 s t g u g o ld 5 a .. 1928
109 4
B r u n s ife W 1 s t g u g 4 s .. 1938
S il b n Oca ife G g u g 4 s .. 1918
*95 4
S cio to V a l ife X E S e e X o r ife \V
Seaboard A i r L in e g 4s ...1 9 5 0
S2 4 S3 4
C o ll t r l e fu n d g 5 's .......... 1911
1014 1014
Seab ife Roa l a t 5 s ................1926
1 1 0 4 ...
C ar C e n t 1 st con g 4 s . . .1 94 9
S lie r S h r ife b o S e e AL K ife T
S il b p Uca <fc G S e e Sa v F ife W
Sod B a y <fe bo 1 st g 5 s ....... 1924 J -J
So C ar ife Ga S e e S o u th e rn
So P ac Co—C o ll t r g 4 4 a .. 1905
100 1 0 0 4
G o ld 4s (C e n t Pac c o ll) . AT949
9o% bale
R e g is te r e d ..................AT 949
A ife X W 1 s t g u g 5a___ 1941
....... 105
C e n t Pac i s t r e f g u g 4s 1949
99 Sale
R e g is te re d .......................1949
M o r t g u a r g o ld 3 4 s .. A1929
8 7 3 9 87%
R e g is te re d .............. AT 929
G a l l i a r ife S A l s t g G s . . l 9 1 0
2d g o ld 7a........................ 1905
M e x ife Pac l a t g 5 a ___ 1931
1034
G ila Y G ife X 1 st g u g 5 s .l9 2 4 |M
107
H o u s E ife W T 1st g 5a. 1933 M
l a t g u a r 5s r e d ............1933 M

H ig h

X 'r ||

S in c e

5 y- J a n u a r y 1

Ao

102 N o v ’97
11*24 M a r ’oo
111

D e c ’0*2

117* M a y ’OO
124 4
101
1*20
110 4
1114

A p r ’03
u c t *0i>
A p r *03
M a r ’03
A p r ’03

137

N o v ’97

107 4 O c t ’98
120 O c t ’01
1 1 2 4 D ec *02
119 N o v *02
98 J ’ ly *97
100 >0 M a r ’03
1 0 0 4 F eb ’03
120 4 D e c *02
97 % 111
97 4
96 M ay *03
92 4
9*2 4 23

98
89 4
97
L IU 4
804
92

99
89 4
J a n ’ 0*2
F e b ’63
J ’ly ’0*2
M a r ’03

G5

4

1 0 1 4 X o v ’01
89

105
103 4
127%
114
954
100
‘ 87
1*24
S5
934
814
82

89

M a y ’03
M a y ’u3
1274
M a y ’03
J a n *03
J a n ’ 0*2
87 4 371
M a i ’03
8 6 4 *26
95
83
83

44
19
•)

1 1 3 4 F e b *03
133 4 51 ay’03
140 M a y *02

111

A p r ’ 02
M a r*0 3
A p r ’97
51ay *03
F e b *02

H ig h

< -Z
v

Z

R r ice
h r id a y
M ag 15

W e e k 's
R ange or
In ' £

i

l|

k ^ II

Range
S in c e
Jan u arg1

•o u tiie m Pac Co— ( C o n t i n u e a )
11 ife T C 1st g 5 h m l g u . . l9 3
( ouaol g ife iu i g u a i...1 9 1 2
lie u g old 4s in t g u a r .. 1921
W acodti X W d iv 1 s i g da ’30
5101 g a u ’s L a ife T 1 at 7 h . 1918

U

il i l

i

111

A ug ’ 01

1134
128
123
95 4
111
87
954

D ec *01
O c t *02
D ec *99
N o v ’O l
A p r ’03
A u g ’01
954

824
S3 4
102 M a y ’03
1 1 1 4 M a y ’ 03
95 4 F e b ’03
102
100

10 0 4

F e b ’ 03
F e b *03
Ja n ’03
F e b ’ 03
A u g ’ U‘2
D ec *02

1123

95

96 4

79
844
1014103 4
1114 1114
954 954

102

J a n *03

90 4
904
95 A p r ’02
105 4 F e b ’03
984
994
99 4 M a r ’03
874
88
110 4
105
109 4
109 4
103
102 4

21

111

29
32

98
88

102
1004
92 4

10541054
98 102
994 994
88 4
" 6 84
do

1104113
105 105
1074 1094
109 4 1 0 9 4

i l llS C E liL A N E O U 8
iHunti luct u iin g A In d u strial
Aiu H id e ife L 1 st s f g Os..1 91 9
A m S p ir its M fg 1st g d s . . l9 1 5
A m T h re a d 1st co l t r 4 s ... 1919
Bar ife S C ar Co 1 s t g d s ... 194*2
Cou sol T ob acco 5 0 *y r g 4s. 1951

B O .\l»

X. Y. STOCK E X C H A N G E
W'eek E nding 5I a y 15

h ta
A sk IL ow
H ig h x J L o w
H ig h
J -J m
1114
......... I 111 A p r ’03 . . . . ] l l o
iu 8
111
111 5 la r*0 3 . . . . 111 11*2
AO
A O * 9 1 4 ......... 9*2 M u y ’03 . . . . | 0U 4 94 4
M-N ••••»• • ••••• 1 2 7 4 F e b ’02 . . . .
__. . .
A O 1 2 7 » 4 ......... 130 N o?*02 . . . . 1
122 beu •4>*2
IJ -J
....
X Y T ife M **x g u 1s t g 4 h . 1
| A-O .....................
X o o f C al 1st gu g da-----1907 J J .....................
115
.........
113 J a n ’01
G u a ra n te e d g old o n ___ 1931 1 \ O
1 0 5 4 X o v ’01 . . . .1 A .. . . . . . .
O re ife C al la t g u a r g 5a. 192' I J - J
124 4 1 2 7
80 b ale I BO
8 0 4 96 * 0
S A 6c A Pa«a la t gu g 4a. 194; J -J
80 4
1 1 0 4 A p r ’03 . . . . 1 1 0 4 1 1 0 %
So P o! A t g u l a t g 0 8 .fc.cl9O ! I J J
iV o ” 12 i 4
l a t g u a r g da.............. c l9 1 i >j J - J .................... I 1 1 1 4 A p r ’0.
111 1 1 1 4
1 1 0 4 111
2 103 105%
b P o f C al 1 st g d s ...........190. > A-O 1 0 3 4 b ale 103 4
103 4
1 1 1 4 113
l] 1 0 4 4 104 4
A O 194 4 Sale 104 4
104 4
l a t g da aenea B .........190.
A O 100 4 bale 100 4
100 4
3| 105% 1 0 0 4
A-O 1 1 6 % ......... 113% F eb *08
119 4 11 9%
1 1 6 % ......... 119 51 ai*’U3 — 119 119%
1 s t g o ld d a ..................... 191: A O
110
1 110 110
l a t cou g u a r g 5a......... 193' M-N 110 Salt 110
51 1U8 110
M-N 108 b ale 108
108
1 n l . 1 iq
J-J
S P a c o f N 5 ie x l a t g da.
J -J
S P C oast 1 s t g u g 4 a ...
F -A 105 ......... 1 0 8 May*U2
T e x ife X O 1st 7a...........
111 4 O c t *0*2 . . . . |
S a b in e D iv 1 st g d a ...
M-S
J -J
104 107
105 A p r ’03 . . . .1 101
105
Con g old 5 s..................
1004 1 004
110% 8 U1 114% 118%
110% bale l i d
o u th e r n —l a t co n g 5 a ...
J -J
1 0 0 4 100 4
117 F e b *03 . _. .1 116 117
R e g is te re d ..................
J- J
94% 51uy*03
5 io b A * d u o c o ll t r g 4s.
M-S * 93% 94
93 4 9 7 4
95 4 9 8 4
» J -J
11*2 4 A p r ’03 ___ 112 4 1 1 3 4
51ein D iv la t g 4 4 * 5 a . .
96
96
.........
97
95
4
A
p
r
*03
.
.
.
.
J -J
95 4 98 4
9 1 4 90
llo
......... 1*20 .Mai ’01
.........
J -J
J .J
95 ......... 95 D e c ’0 ‘2
♦ A-O
5 J -J
..................... 120 Sep *0*2
94
99
) J .J
no
1 1 ft
i 1 a a*
K T V a ife G a D iv g 5s.
92
88
8 11641194
5 M-N 1 1 0 4 Sale 1 1 6 4
* Con 1 st g old 5 s...........
1164
114 J a n ’03 . . . . j J 14 115%
M -8 ......... 114
E T e n re o r lie n g 5a____
11041124
J -J
122 4 ....... 12*2 5 Iar*0 3 . . . . 122 124
1*24 4 F e b ’03
>J -J
123 1*24 4
9 ‘i " ’ *92
) J -J 118 ......... 118 A p r *03 ___ l 11(54 118
R ic h ife D an con g 0 9 ...
99 ......... 101 4 J ’iy *00 ___
» M-S
E q u ip s in k f u m lg 5a.
109 4 A p r *03
109 111%
A-O 1 0 8 4
92 Sep *02 . . . .
< M-N
♦M-N lO d ......... 108 A p r ’03 . . . . io 6 i0 8
; M -s 114 ......... 123 F e b ’ 0*2
S e rie s D 4Wl-S 110 ....... 11*2 F e b ’ 03
112 i ’1 2
87
94
J a i l ’03 • • • • 115 115
; m -s I l l
113 4 l l 5
» M-N * ......... 1 13% 112 % M a y ’03 . . . . (11*24 1 1 0 4
> M-N ......... 113% 1 1 3 4 113% 11 1 1 3 4 1 1 3 %
89 ......... 93 F e b ’03 . . . . 93
F -A
93
J -J
W e s t X C 1 s t con g t
1 1 5 4 ......... 115 4 M a r ’03 — 115 1 1 5 4
S <fe X A la Sec L ife X
123 ......... 117 J T y ’ OO
1 J -J
105 106
J -D
1 0 4 4 Sep *02
103 4 1 0 6
S u n k <fc L e w S e e P e n n R R
127 4 1 2 9
110 1 1 4 4 b y ra B in g ife X Y S e e 1) L <fe r
9 5 4 9 5 4 ' I 'e b o <fe X S e e M K <fc T
X e r A o f S t L 1 st g 4 4 s --1£ ) A -O ......... 112 1 1 1 4 51ay’ 03
1 1 1 4 112%
l F -A 1 1 3 4 ......... 110 4 A p r ’03 . . . . 1 1 6 4 1 1 8
854 914
) A-O ......... 114
117% .M a r’03 — 117% 117%
124 124
85
8 8 4 T e x ife X O S e e bo Pac Co
> M-S * ......... 102
T e x ife Pac E D iv 1 s t g da .. 1
102 5 Ia y ’03
102 102
) J -1) 118 118% 118
118
d 115 118
) 5 Ia i
87 51ay’03 . . . . 87 100
90
96
034 974
J -J
L a D iv B L 1 st g
111 J a n *08 . . . . 111 111
81
854
> J - J * l l 2 4 1 1 3 4 113 M a y ’03 . . . . 1 1 1 4 1 1 3
81
86
j A-O
113% N o v ’ 02
W e s te rn D iv
'» J -D
107 F e b ’ 03
107 107
»> 90
) A-O * 92 ......... 92
K a n ife M l a t gu
92 4
97
11341134
1 J -J
90
91
90
9 0 4 15 89
ff
92
|1 3 1 4 1 3 5 4
1 83% 85%
) J- J
85%
85%
84
86
) A-O * 75
4 74
75% 7 5 4
09
'4
80
754
5! J - D * ......... 97
98 A p r ’03 . . . .
98
98
J -D 110 ......... 110 A p r ’ 03 . . . . 109 1 1 0 4
111 114
n Pac R R & 1 g r g 4 s .. 194' " J - J
102 4 Sale 102 4
102 104
102% 186 1 0 1 4 1 0 3 %
7 J -J
102 4 5 la y ’03 . . . . 101% 103 4
L M-N
98%
100 890 98% 1 0 7 4
98% b ale
103 4 1 0 5 4
M-N
1 0 5 4 J a n ’03 .... 1 0 5 4 1 0 5 4
j J -D 1 0 1 4 Sale 1 0 1
12 9 9 4 102
10 14
p 123 1 2 7 4
> F -A
125 120 4 1 2 5 4 1 2 5 4
j J -J
1 s t co nso l g 5s.
51 111% 114
113 Sale 113
114
134 1344
; f a
93 b ale
93
93 4 110 90
984
J -J
110 ......... 115 N o v ’02 . . . .
84 84
■J - J
1 1 4 4 A p r ’02
L ow

i’ ” i n

111

1 1 6 4 A p r *01
111
ill
10*24 1 0 2 4
106 51 ay’01
104 M a y ’03
1*28
134
115
118 4
125 4

R ange

U ta h C e n tra l S e e R io G r
s
U ta h <fe N o r th S e e U n P i
C
U tic a <fe B la c k R S e e X Y
t
J e r V a l I n d <fc W
S e e 51 o P
ir g in ia 51 id S e e S o u th R y
V a ife S o u tliw ’t 1 s t g u 5 s .200; 1 J - J
103 Sale
J abash 1 s t g o ld 5 s ....... 193 I M-N
115 Sale
*2d g old 5 s.................. 193 J F -A 107 Sale
J J -J
J J -J
7 7 b ale
M-S
1 J - J * 1 0 8 4 i0 9
1 J -J
D es M o m D iv 1 st g 4s.
......... 95
Om D iv 1st g 3 4 s .........
1 A-O
S4 Sale
1 M-S * 97 .........
T o l 6c C li D iv 1 st g 4 s ..
- A-O
W a r re n S e e D e l L a c <fc W e s t
W a s h C e n t S e e X o r Pac
W a sh O <fe W S e e S o u th e rn
7 J -J 117 .........
3 A-O
96 .........
3 Xov
30 .........
W e s t X o C a r S e e S o u th R y
W e s t S hore S e e X Y C ent
W V a C e n t & P 1st g G s ..l9 1 J - J 109 .........
W h e e l’ s: <fe L E 1 st g 5 s . . .1 9 6 A -O 112 1 1 4 4
W h e e l D iv 1 s t g o ld 5 s .. 19 s J - J ......... 113
E x te n <fe Im p g o ld 5 s ...1 9 l) F -A ......... 112
l M-S
92 Sale
W ilk e s ife E a s t S e e E r ie
1
W il <fe S io u x F See S t P M
W in o n a ife S t P S e e c ife X W
9 J -J
92 Sale

\
U

103
115
107
1014
74%
104 4
109
97
84
98
109 4

5 101 103
103
1 1 5 4 47 115 118
108
9 1044111
A p r ’ 03 . . . . 1 0 0 1 0 1 %
78 *2350 67
84%
D e c ’ 02
109%
9 108 109%
51 ay’ 02
45 81
84
854
5 Ia r ’02
M a r ’03 — 108 1 0 9 4

1 1 7 4 A p r ’ 03
9 8 4 A p r ’03
40 5Lar’0 l
1144
112
113
llo
91%

914

1174 1 184
97% 1 0 1 4

J a n ’02
A p r ’03 . . . . 11*2
S e p ’02
110
5 ia r ’03
92
18 90

no
93%

90

924

22

92

1164

BO N O S —C o n c lu d e d .
DliMcelianeotis

M-S
M-S
J -J
J -J
F -A
A -O
J -J
J -J
A-O
F -A
A -O
M-N
J -J
FA

D is t il Sec C or cou v 1 st g 5 s .*27
D i s t i ll o f A m e r c o l l t r g o s .1 9 1 1
111 S teel Co deb 5 s ............... 1910
X o n -c o n v deben 5 s ......... 1913
In t P a p e r Co 1st con g 6s. 1 9 IS
K n ic k e r Ice (C h ic ) 1st g 5 s . ’ 2S
N a t s ta rc h M fg Co 1st g ds 1920
N a t S ta rc h Co s t deb 5 s .. 1925
Stan Rope ife T 1st g G s... 1940
Incom e g old 5 s ................. 1940
U S L e a tli Co s fd e b g d s .. l9 1 3 M-N
U S S ln p b ld g c o ll A* m ge 5 s .’ *22 F -A
1st s f 5s g “ A ” ................. 1932 J - J

....

91 Sale
89 .........
......... 79
0 f % Sale
07 Sale

105% b ale
......... 95
71
73
60 4 b ale
8
9
1 1 1 4 Sale
40

“No price Friday; latest bid and asked.

46

9 1 4 15 90% 98
88
1 88
94 4
80
80
J a n *03
.
J a n ’00
6 2 4 io 5 ! 60% 67%
77
6 8 4 72 1 67
98% 100
5 I a r ’03 —
J a n *99
M a y *02
1 0 6 4 12 i 0 5 % n o
93
93
F e b ’03
M a r ’03
94
95
69
SO
51av’03
68
62 4 11 60
9
M a y ’ 03
8 4 134
1 1 1 4 1 1 1 4 20 1 1 1 4 H 4 4
91 J a n ’03
91
91
47
80
47
49
ii

91
88
80
105
61%
(57
100
99
100
105%
93
95
73
60 4

aD ueJan 5DueFeb

......

A d a m s E x co l t r g 4 s ......... 1948
A m D k & Im p 5s S e e C e n t X J
A m SS Co o f W V a g 5 s
1920
B ’k l ’ n F e rry C o 1 st cons g 5s ’48
C lue Jcife s t Y a rd c o l g 5s. 1915
D et 51 ife 51 l d g r in c o m e s .. 1911
H o b o k e n L A I g o ld 5 s . . .1 91 0
M ad Sq G a rd e n 1 s t g 5 s ..1 91 9
*'
N e w p X e S h ip A D D 5s (11990
X
D o c k 5 0 -y i 1st g 4 s .. 1951
St Jo sep h S tk Y d s 1 st 4 4 s . 1930
S t L T e r C u p p le s S ta t’ n A P ro p
Co 1st g 4 4 s 5-20 y e a r .. 1917
S Y’ uba W a t Co cou g 6 s .. 1923
Sp V a l W a t W o rk s 1 st 6 s .l9 0 d
U S Red A R e f 1 st s f g 6s. 1931

c Due 5Iar U Due Apr

g

Due J’ne

h Due J’ly

......... 104

M -N
F -A
J -J
AO
M-N
M-N
M-N
J -J
F -A
J -J

100% J ’ n e ’02
! ! ! ’ ’. ! ‘ 7 6 4 73 M a r ’03
103 ......... 111 M a r ‘01
85
86
86
864

J -D
J -J
M-S

50

i ’o i ” I I ™

914

F e b ’0*2

p

106

7 3*" " 76**
I 85

4I

5

—

—

Due Xov gDue Dec

954

.....................

. . . .

914

101 F e b ’97
1 0 1 4 ......... 113 4 J ’ l y ’00
82 A p r ’03

A; Duo Ang

1103

103% M a y ’ 03

M-S

89 4

95

.....................
82

85

sOptionsale

BOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and Yearly
S h a r e P rices-—Not P e r C entum P r ic e s
Saturday
M ay 9

M onday
M ay 11

Tuesday
M a y 12

W ednesday
M ay 13

Thursday
M ay 14

F rid a y
M ay 15

STOCKS
BOSTON STOCK
EXCHANGE

Sales
ot the
'Week
Shares

Range j o r Year
1903
Lowest

H ighest

Range l o r P revious
Y e a r ( 1902)
Lowest

H ighest

R a ilr o a d s
78% 79
78%
78% A tcli T op & Santa FelOO 2,395 77% A p r 13 89% Jan 10 74% Jan 9 6 * 2 S e p
97% 97% *96%
96%
99 96 A p r i l 103% Jau 10 95% Mar 106 Sep
Do p re f............... 100
255 255
54 255 A pr 3 262% Feb 4 i
255
255 B oston A A lb a n y ___100
266 May
14534 14534 Boston E levated....... 100
14534 146
4>2 142 A pr 2 154 Jan 5 1
173*2 Mar
240 240
74 239 M ayl5 250 A pr S
239
239 Boston & L ow ell....... 100
248 A pr
197 174 May 15 195 Jau 5 i1 9 0 * 2 N o v 209 A pr
174% 174% 174
174 Boston
M aine....... 100
L ols t S a l e 175
A p r ’ 03
173 Apr*27 177 A p r 22
Do p ref............... 100
183 A pr
*300 302 *300
302 Boston & ProvidencelOO
T r 299 Jan 29 305 M arl 3
307 Mar
4 148% A pr 28 157 Jau 0
150
150 Chic J unc R v & U S Y l 00
* .........150
172 Mar
1 118 A pr 9 125 Jan 2 1123 Nov 136 Mar
*118 120 *......... 120
Do nref
.
.100
L a s t S a l e 192
191 Mar 4 196% Mar24 1196 Nov 202 Jan
May’03 Con <fc M ont Class 4 .. 100
T i 160 Jan 5 170 .Marl 9 160 J ’ ne 166 *2 Feb
168 % 168 % -168
......... Conn & Pass Ri v pref 100
L a s t S a l e 286
A p r ’ 03 Connecticut R iv e r ... 100
281% Jan27 2S6 F e b 19 I280 Oct 295 Feb
31 140 Jan 16 143% Feb 10 141 Dec 148 Mar
141 141
140% 140% Fitchburg p re f.......... 100
42 Mar 9 42 Mar 9 47 J ’ly 50 J ’ne
L a s t S a l e 42
M ar’OJ H ouston E l’ tric com.lOO
3 173 % M ayl5 180 FeblO 172 Jan 178*2 J ’ly
173% 173% Maine C entral............100
537 2 63* A pr 8 3734 F e b lS 33 Dec 45 7s A pr
32
31% 3134
32
32
32
31
31%
30
30 Mass E lectric C os___100
*32 .........
416 84% A pr 7 96 Jan 7 92 Jan 99 J ’ ne
87
87% 88
87
S7% 88
87
87
Do p re f............... 100
*88
89
88
88
2434 A p r i l 28% A pr 2 5 22*2 Dec 31 Mar
*2634 2 73.j *27*4 28*4 -27*4 28*4 *2734 2834 L a s t S a l e 28%
A p r ’ 03 M exican Central....... 100
797 1190* M aylo 225 Jan 7 210 Jan 254 A pr
194 ‘ 194% 192% 194
190
191 N Y N H & H a r t ....1 0 0
195 " 195
196 196*2 195 ‘ 196
30 165 M ayl5 173% Mar 3 170 Jan 75 Jan
165
165 N orthern N H .......... 100
165 170 *165 170 *165 170 *165 170 *165 170
230 Jan 6 232 M a r ll 230 Jan 238 A pr
*228 232
L a s t S a l e 230
May’03 N orw ich & W or pref 100
228 232 "228 232 *228 232
69 204 M ayl2 212% Feb 13 206 Dec 217 A pr
204% 204% 204% 204% 204% 204% Old C olony................. 100
205 205
205 205
204 205
645i 78 A p r i l 91 M avl ] 68 May 85 *4 Sep
91
91
89
89%
89% 91
89%
90 Pere M arquette.........100
*89*2 92
"89*2 91
25 75 A p r i l 85 Jan 9 79 % May 91 J ’ly
79
79
*73^2
79%
*78% 79
Do p re f............... 100
*78*2 SO
*78*2 79
*78*2 79
50 A p r 7 71 Jan 20 647s Dec 125*4 A pr
L a s t S a l e 51
__100
A p r ’ 03 Rutland pref
23
*21
23
L a s t S a l e 25
J a n ’03 Savannah E lec co m .. 100 •••••• 25 Jan 12 25 Jan 12 25 N ov 31 J ’ly
*21
23
*21
23
*21
*
*......... 78
75 Jan 5 8 4 34 Jan 10 58 Jan 90 May
78
L a s t S a l e SO
..100
......... 78 *......... 78
F e b ’03 Seattle E lectric
14 99% A p r 17 104% Jan 6 103 Oct 110 Mar
100 100 *100
100 101 *100 101 *100 101 *100 101
101
D o p re f............... 100
8934 90
90
90%
90% 90% *8934 90%
89 78 89%
88%
89% U nion P a cific............100 1,130 86% A p r 13 104% Jan 9 93% D ec 113 Ang
9034 91
36 8734 A p r i l 95 Jan 27 86 % Mar 94*8 Aug
91
91
*90%
91%
Do p re f............... 100
91*4 91*4
91*4 91*4 *90% 90%
100
172 A pr 1 178 Fel)25 172 Jan 178 J ’ly
*170 ......... L a s t S a l e 172
170 ........ *170 ......... *170
A p r ’ 03 V erm ont & Mass
9134 9134
57 91 May 6 97 F eblO 92 *2 Oct 99 Mar
91% 9134 9134 ' 9 1 34 W est End S t.............. 50
91
91
91% 91%
•91
92
10 110 A pr 6 116 Feb 14 111* 2 Dec 117 J ’ne
111 113 "111
113 "111 113 *111 113
112 112 -1 1 1
112
D o p re f............... 50
24% Mar2s 26% Jan 15 19 *2 Jan 3 4 7e J ’ly
L a s t S a l e >4%
M ar’ 03 W isconsin Central
100
52 Jan 15 52 Jan 15 393g Jan 55 *2 Sep
L a s t S a l e 52 "
J a n ’03
Do p re f............... 100
150 Jan 14 150 Jan 14 145 N ov 152 *2 May
L a s t S a l e 150
A p r *03 W ore Nash & R ocli 100
M is ce lla n e o u s
854 1 9 % M a y ll 26 F e b 11 19 D ec 32*2 J ’ly
1934 1934 *19% 1934
20
20*8
19%
19% Amer A g ricu l Chem .100
19*2 20
19% 19%
413 77 May 9 86% Feb 14 76*2 D ec 91 J ’ly
77
78
78
77
77
77
78
78
Do p re f............... 100
77*2 78
934 May
4 Jan
549
5
*5
5%
5 Jan 5
7 Mar 2
5
5*4
5
5
5
5
5
5
5 Am er P neu S erv ....... 50
32 15 Jan 2 24 M ar 4 21 J ’ ne 3734 May
*20 ........
20
*20
21
*20
21%
20
20
2L
21
20
Do p re f....... ........ 50
12534 126*4 125*4 126% 126 126*4 125% 125% 125% 126% 124% 125 Am er Sugar R etin___100 1,682 119% A pr 6 134% Jan 8 112% Nov 135*8 Mar
283 119 A pr 3 122% Feb I s 115 Jan 123 Sep
121 121*4 121 121
121%
Do p ref............... 100
121*2121% 121 121% 121 121% 121
156 157
155% 158% Amer Telep & T eleg.1 00 1,728 151% A p r i l 1 6 9 % F e b lS 155 Mar 1853s A pr
157*2 158% 156*2 157*4 15634 157% 157 158
1234 13
13
13
*12*2 1234 *12*2 1234
13
13
Am er W oolen ............ 100 1,300 12% A p r 7 14% F eb24 12 Dec 17*4 Jan
588 76% A pr 6 79% Jan 22 73 Apr 8034 Jan
78
78
78
77% 78%
77%
77%
Do p re f............... 100
78
77*2 77*2
77*2 78*2
4*2 May
334 May
434 *.........
.........
434 * .........
534 Jan 22
434 «r
434 L a s t S a l e 4 34
4 'i0 Jan 2b
M ar’ 03 Boston Land.............. 10
250 120 Jan 30 127 Jan 6 122*2 Apr 13034 A pr
120 122 ' •120 122 "120 122 *120 122 *120 122
121% 121% Cum berl Telep & T el 100
2734 28*4
27
28%
28
26
27 Dominion Iron & S t....... 2,155 24 A pr 1 62% Jan 2 25 Jan 79 78 Aug
-28*2 29%
2834 2834
28
9% Mar
6% May 5
7 N ov
858
834 Jan 23
7
*7
7%
7
7
6%
6%
7
7 East Boston L and............
7
7*2 7*2
66 260 A p r l3 310 F e b l7 244 Jan 285 May
272 273 *270 273 *
272
272 272
272 272
272
272 Edison E lec I liu m ... 100
33234 A pr
393 ISO A p r i l 204 Feb 16
194 194
190 190% 185% 186 General E lectric....... 100
193*4 193*4 192 19234 191 192
4134 N ov
4334 4334
44*8 4434
4334 44%
43% 43%
43%
4334 Mass’cliusettsGasCoslOO 4,427 40 Feb 3 4834 Feb 20
44
44*4
87 *4 Oct
8334
84
85*2 85
86
85% 85%
86
86
Do p re f............... 100 2,060 8 1 ^ A p r 8 88% Feb 17
86
85*2 86
10 177% M arl6 19(> Feb 2 170 Jan 190 Sep
185 187
c18534 187 *2 *184
188
1S4 184 *184 187 * ......... 186 M ergenthaler L in o.. 100
340
3% A pr
1 78 Dec
1 % M a rie
2% Jan 29
2%
2%
2
2
2*i0 2*ifi
*2
2% M exican T eleph on e.. 10
*2116 2*8
2
2*8
77 A pr 4 86 Jan 2 87 Nov 93 *2 J ’ ne
*79
83
*79
83 *
78% - ......... 78% L a s t S a l e 78%
May’03 X E Cotton Y arn pref 100
67 135 Feb 4 139 Jan 2 135 Jan 151 A pr
136 136
136
136 N E T e le p h o n e ..t __100
137*2......... *137*2......... 138 138
15
9 A p r 24 20 Jan 6 21 Dec 41*2 Sep
'8
10
9
"10
11
-9 .........
"9
12
Plant Comp new com.lOO
9
125 211 A p r i l 237 Jan 9 216 Jan 250 J ’ly
217% 217% 217
218 218
218*2 219 *
218% 218 218
217% Pullm an Co................. 100
6 Jan 10*8 Oct
9 M ar 2 7 10 F e b lS
21
-9 * 4 .........
- 9 % .........
9
9
9 *4 9 *4
"9
9% Reece B u tton -H ole.. 10
"9*4
200 109 Mar30 132 Jan 5 100 Jan 177 J ’ly
1 1 1 % H 2 % "111% 113 Sw ift <fc C o................. 100
113 ......... 114 114
112 ‘ 112
112 ’ 112
25% Jan 15 2634 Jan 15 26 Oct 27 Jan
*25
26
L a s t S a l e 26*% M ar’ 03 Torrington Class A . . 25
26
"25
26
*25
26
*25
29 Jan 21 2934 Jan 5 28 Jan 30 Oct
*29
30
30
L a s t S a le 29*4
Do n r e f ............ . 25
*29
30
*29
30
*29
M ar’03
2*2 Mar
1*4 A n g
1 % Jan 12
250
5 A pr 21
*4
4%
*4
4*2
4%
"4
4%
*4
4*2
*4
4
4 Union Cop L ’d & M g . 25
103% 105
103% 105
106*2106*2 105*2106
102% 103% U nited F ru it..............100 l,2u9 102 % May 15 111 Jan 10 85*2 Jan 117 Sep
38s 47 A pr 17 53 Jan 2 46 Jan 57*4 May
"47*2 4734
47
47
47
47
46% 47
-4 7
47% United Shoe M a c h ... 25
47
47*2
183 29 A p r 14 31% Feb 5 29 Jan 33*2 A pr
*2934 30
2934 30
2 y% 2 y% *2934
29% 30
30
Do p re f............... 25
*29*2 30
11*4 Jan 15 *4 Sep
1 1 0 11 7g M ar31 15% F e b l l
14
U S L e a th e r ............. 100
14
13% 13%
89*s Jan 19 95% May 6 S0*4 Jan 91*2 Sep
Last sale
Do p re f________ 100
15 Apr2J 18% Feb 16 13*2 Jan 19% Oct
L a s t S a l e 15
A p r ’ 03 U S R u b b er............... 100
26 IS*^ A pr 16 57% Jan 9* 49 Jan 62*4 Mar
53
53*4
Do p re f__. . . ___ 100
51
51%
35
35
3334
3334 U S Steel Corp.......... 100 6,553 3 3 % May 15 39% Feb 5i 29 *2 Dec 4634 Jan
33% 34%
33% 34%
3434 35*4
34% 35
84
8434
83% 83%
Do p ret............... 100 2,065 83 May 13 89% Jan 7i 79 *2 Dec 97*2 Jan
83
83%
83%
83%
84*2 84*2
84% 84%
610 •50 Jan 14 *80 Mar 4 •72 *2 Mar 1 *12*2 A pr
*•60
*90
•75
*•80 ......... •80 *80
"•60 *90
*•80
......... W est End L an d ......... 25
*65
3 19 A p r l 6 28 J a n l 2 ' 22 Dec 33 *2 A pr
19
19
"19*2 20*2 "19*2 20% *19% 2 0 % *19% 20%
*19
20 W est Telep & T eleg.1 00
7 95 A pr 7 102 Feb 28 91 Feb 106*2 A pr
*96
97
97
95
95
Do p re f............... 100
*96
97
97
96
96
*95
97
144 96 May 1 108 Feb 2! 86*2 Jan 115*2 A pr
103% 105
W esting E l & M f g ... 50
*105 107
105 107
10 1
10 1
101 M arly 110 Jan 29 89 Jan 117 A pr
L a s t S a l e 104^2. May’03
Do p re f....... ...... . 50
"104 108
*104 108
M ining
230
8 May 13 18 Jan 2 12*2 Dec (124*2 Apr
.........
9*4
83,
S34
8%
8%
9
9
8
8
8
8 A dventure C on___ . . . 25
r?
43 4 Mar
8 % Mar 9| *) Aug
3 % Jan 3
634 634
634
7
1
7*4
7 *4'
7
7
7
6%
634 A lio u e z ........................ 25 1,173
6534 6 6 %
65% 65%
64% 60 %
66*8 6/*4
63%
64% Amalgam ated CopperlOO 28,107 60% A p r 13 7 0 % M arly j1 53*8 N o v 7S78 Feb
66*4 67
334 A pr
•50 Feb 9
1% F eb lo)
1 *2 Nov
*•25
1
Last Sale 1%
1
**25
1
*•25
*•25
1
F e b ’ 03 Am er Gold Drediring 5
6 Dec 16*8 J ’Jy
6 Jan 2 1 2 34 Mar2l|
1134 12*4
1 1 % 12
11*4 11*4
11%
1 1 % Am Z m c Lead <te Sm . 25 3,400
12 % 12 %
11*2 H %
*25*2 26*2 *2534 26*2 *25 % 26% *2534 26% L a s t S a l e 2 5 34 A p r ’ 03 A naconda.................... 25 . . . . . . 23% Jan 12 31% Feb2o, 21 Nov 35 Jan
3% May] 5
6 % r e b 9]
7 60
3*2 Jan 13*4 Mar
3 34
3 34
*3*2 4
*3%
3%
"3 % 4
3%
3% A rca d ia n .................... 25
"3*2 4
1 Jan
100 •25 A pr 9 •95 M a rly | •37*2 D ec
*•50
1
*•50
1
*•50
1
*•50
1
•50 •50
*•50
1 A rnold ........................ 25
9 Deo
6 Dec
950
S^Jan 2
1134 1 1 34
1134 i i 34
1134 1134
A t la n t ic ...................... 25
1 1 % 1 1 % * 1 1 % 12
10 %
11
580 28% A pr 14 39% 1 ebiO] 20*2 Jan 3934 A pr
31
31
3034 3034
30
30*4
31
31*8
30*4 30%
30
30 Bingham Con M m & S 50
*•60
-70
L a s t S a l e ■65
"•60 *70
*•60 •70
*•60
’70
May’03 Bonanza (D ev C o )... 10 . . . . . . •65 Jan 14 •90 M a rl 8 •40 J ’ly 1*20 Mar
4 % Jan 20
8 Feb 3j
5*2 Sep 10*2 Mar
* 4 *2 5 *2
5%
"4%
5% L a s t S a l e 0 %
*4%
M ay’03 British Colum (L td ). 5
"4*2
5 *2
62 498 Jau 6 551 M a r ll 420 Dec 650 Feb
520 520
525 525
524 525
525 525 *524 530
520
524 Calumet <fc H ecla___ 25
•OS F e b l o TO F e b l l •10 A pr •12 Jan
"•08
*10
L a s t S a l e •OS
•10
*•08 *10
*•08
*10
Mav’ 03 Catnlpn (Silvers ____ 10
26*4 2634
2 o34 26
25
25
24% 25
25% 26
23%
24% C e n te n n ia l................. 25 2,431 19% Jan 2 31% Feb lu 11 Jan 28 Mar
834 May
7% Jan 20
6 * 4 Dec
6 % Jan 31
350
"6 34
7
6 7s
6 78
7
7
* 634
6%
*6 % 7
6%
6 % Central O il................. 25
0 Jan
. . . . . . _____
L a s t S a l e •30
M ar’03 Cochiti Tr Co re cts.. 10 . . . . . . •30 MarlO •35 Feb 19 •25 A pr
Jan
J ’ly
l
2<32Jan
2
2*4
6,125
1%6
May
13
1%
Cons
M
ercur
G
o
ld
...
5
1516 1**16
1316
1°16
i
5ie
*1 ”32 1 %
i 5ie
i%
1 5iq
l sie
1 732
13 F eblU 16 Mar 2 4 15 Oct 1934 J ’ly
*14v> 10
* 14
Continental Zinc
_ 25
Last Sale
*14*2 16
16
*14*2 16
6434 66*4
65
6534
63% 65%
63% 64
62% 63*8
61 %
62% Copper Range Con ColOO 7,817 56 A p r 13 75 Feb 13) 4 3 3 4 Mar 65*4 Oct
270 3 6 % Jan 20 48% May . IS *4 Mar 56 J ’ly
4734 4734
48
48
*47
4734
47%
47% D a ly -W e s t ................. 20
48
48
*47% 48
650 102 A pr 1 131 '8 Jan lOjl 54 Jan 146*2 Sep
109*4 109*2 *108*2 109
106 108% 10634 10634 *10 6 198
105
105% D om inion Coal.......... 100
115 Feb 14 l l 8 % Feb 6 113 Dec 119 J an
116 118 "116 U S
L a s t S a l e 777io M av’O:-*
Do pref _ _ _1C)0
*116 11 8
*116 1 1 8
1*2 Jan
5*2 Mar
2% Jan 5
5 M a rl?
4
4
334
334
*3%
4
4
4*8
*3%
4%
3%
3% Elm R iv e r ................... 12 1,000
360 10 J a n lo 14 Feb 9] 7io Dec 1534 Feb
1 U34 1 0 %
* 10*2 1 1
10 %
Franklin ...................... 25
10 % 10 %
1 0 % 1 0 % *10
10
10
4 34 A pr 22
5 % A pr 2 3
4 34 4 34
5
*5
5*16
Granby Consolidated. 10 1,240
5
5
5
4%
J
5 78 Jan
3 Jan 12 , 2 * 2 Dec
1% A pr 14
965
2
2
2
2
2%
" 1 34
2%
2
2
2
5
* 1 34
2 % Guanajuato C on sol..
O3; Dec 25 Feb
27o 10 M aylo 17% Feb 9,
10 %
11
11
Isle Rovale (Copper). 25
10
10
10
10
10*4 10*4
10*2 10*2 *
9 % May 7 IS Feb 6 'i 12*2 Dec 21 *2 May
18u
"9*8 9*2
9%
-9
9%
"9 ^
9*2
9%
9*4 9*4
9
9 Mass C onsol............... 25
3 3s Mar
1 % F e b 27
2% Jan 23
2
1 % Sep
10
*134
2
* 1 34
2
*134
2
*134
2
* 1 34
2 M aytlow er................... 25
2
7 N ov (?13*4 Mar
11%
Feb
9
|
|
S
A
pr
15
785
M
ich
ig
a
n
.....................
25
8*2
8*2
8*4
S
8
*7%
8
%
8*4
8*2
.8
7%
7%
*52
52*4
51% 51%
51
51
51% 52
51% 52*4
50
50 M ohawk t ................... 25 1,023 043% Jan 8 f5 8 F e b lo , i 27 Jan 49*4 sep
6 oct
4 ^ Jan 2
8 Marl3| | 3 J ’ly
120
6
6*2
6%
“6
6%
6%
6%
6%
6
6 Montana Coal & Coke 25
-6
6*2
4 34 Mar
J ’ly
2% Jan lo||
1 % F eb 27
650
134
134
134
134
* 134
2
5
* 134
1 % M ontreal & B oston ..
- 1*2
2
11516 l 15ie
1 34 J an
Jan
1% Jan 1 0 j j
50 •75 May 14
*1
*1
1 **>
_________ 25
1%
1%
*
-75 National
*1
1*2
1%
4 *o Mar
1 % Jan 8
2% Feb 9|i •75 Dec
*1 % 2
L a s t Sa le 1 %
* 1*2
2
"1% 2
May’03 Old C olony................. 25
" 1*2
2 ^
375 17 A p r i l 23 % F eb 9 | 14*2 Nov 25 Feb
Old Dom inion (C op).. 25
"18
1 8 34
18
18
18
17 % 17 %
18
18
18
505 59% M i 8 79 F eb 9 ] 47*2 Nov 89% Feb
67
6 6 % 67
* 67 *2 68
66
66
67
65%
66 O sce o la ........................ 25
67
67*2
410 26 Jau 16 34 F eblO I 21 N ov 34 Feb
28% 28%
28
28% 28%
28*2 28*2
27
27 Parrott (Silv cfe Copp) 10
28
28% 28%
5 May
7% F e b l l ' 3 Dec
2 1 < 4% A pr 30
6
6
"5
6
6%
6
6
*5
6 Phoenix Consol.......... 25
*5
6
6
132 1 0 1 **2 5 an 2 o 1 2 6 % F eb 6 |LOO Nov 147 Feb
109 113
113 115 *112 115
115
113 113
109
109 Q uincy......................... 25
"112
3*4 Mar
4 Feb 10 | 1*2 J ’ ne
2% Jan 6
50
-2*o
3
2%
2%
*2%
3 Rhode Island.............. 25
"2*2
3
"2 % 3
* 2*2
3
4
Feb
Sep
l%
J
a
n
2
3
Jau
231
268
1*2
Santa
F
e(G
old&
Cop)
10
*2
2
%
*2
2*4
2
2
*2
2*4
2*4
2*4
2*4
*13% 1334
13% 13%
13%
13% Shannon ...................... 10 3,429 10% Jan 22 14% A p r 23 | 8 Nov 18 May
14*8 14*2
14
14
14
14%
A pr 9 190 Feb 61Il40 Dec 281 Feb
88 140
140 143
139 T a m a ra ck ................... 25
140 140 *140 143 <134 139 *130
140 140
3 *2 J ’ne
L a st S a l e 50
*•50
1
*•50
1
May’03 T e cu m se ll................... 25 . . . . . . •50 May 1 19ig F’eb 9 |•50 Jan
1
"*50
*‘50
1
L a s t S a t e 33
M ar’ 03 T en n essee................... 25 . . . . . . 1734 Jau 28 33% M arl 2 13% Mar 18 *2 J ’ly
360 S7 A p r i l 106% Feb 20 134 Jan 125 Feb
89% 89%
9i
y i% * y i
89 %
S 9 % T rim ou n ta in .............. 25
91
91
93
- ’9 0
93
8 % A p r i l 14 Feb 9
8 D ec 18*2 Mar
706
S34
834
8%
8 % T rin ity ......................... 25
*834
9*4
g34
8%
9*4
9
" 8 34
9
L a s 1 S a l e 20
May’ 03 United Copper.......... 100 — . . . 20 A pr 28 3 1 34 Jan 1’ , 27 Sep 35% J ’ly
Jan 23 Dec
24
24%
24% 24%
23%
23% U nitedStates Minin<r 25 3,98o 21% Jail 13 2 .% Feb 9 13*4 Nov
24*4 24%
24% 2434
24*2 24%
13
18*4 J ’ly
935 13-% Feb 3 17 M arll;
14
14
14
14 Unit States Coal cfeOil 2o
14%
14*2 14*2 *14*4 14%
14*4 14*4 *14
29% 29%
28%
29 Utah Con (Gold)tr rc 4*85 5,061 23% Jan 13 33 F eblO 19*2 J ’ly 27*4 Feb
2934 29%
29% 29%
29% 2934
29 *2 29%
7 Oct
Dec
4
9 F’eb 9
5 % A p r 13
235
5% 5%
5%
5 % V ic t o r ia ...................... 25
"5%
6
* 5 7s 6*4
5 % 5*<>
6 Aug
Jan
d
l
T
4
34
M
arl
6
5
%
J
an
3
3,351
W
in
on
a
........................
25
1
0
%
1
0
%
12 % 12 %
1
1
1
1
%
1 1 % 12
12 % 12 %
12 % 12 %
355 66 Jan 8 <7 M arl 2 42 Jan 65 Dec
70%
70% W olverine ................. 25
71
71
7034 71
*71*2 7134
71
71
71 ‘ 71
134 J ’ly
2% Mar] < *50 Nov
1 Jan 8
275
1 % 1 *510
1%
1 % W v a n d o t..................... 2c*
*1 % 2
*1 %
2
"1 % 2
*1 % 2
Before pay’ t of assess’ ts called in 1903. tiB efore pay’ t of assess’ ts ca lled m 190*2. "B id an d a-sked. N ew stock. fA s s t p a i d . $ Ex-rights.
79*2 80
97*2 97*2
256 256
145*2146*2
240 245
175 175
173 175
298 300
.........150
118 120
192 196
168
280 286
140*2 140*2
*42
45

79*4 79%
*97
97%
256 256
*145*2146
*240 243
175 175
-1 7 3 175
300 300
150 150
118 118
*192 196
*168 .........
*280 286
"140*2 141
*42
45

79%
*96%
255
146
240
175
*173
"300
*
*118
"192
"168
"280
141
*42

80%
97 l4
256
146
240
L7 0
175
302
151

79
79*4
96% 96%
255 255
146 146%
*240 243
175 175
<173 174
31*0 300
150% 150%
*118 .........
196 *192 196
"168 .........
286 *280 286
141*4 141*4 141*4
45
*42
45

T8

Boston Bond Record

M a t 16, 1903.]
BONDS

BO STO N STOCK K X C H ’ G E
W e e k e n d in g M a y 15

B r ic e
F r i d a 1/
M a y 15

*N

A s k L ow

B id

A in B e ll T e le p h o n e 4 » ___ 1908
A m T e le p A T e l c o ll t r 48.1929
A tc h A N e b ra s k a 1 st 7 s .. 1908
A t c li T o p A S F e g e n g 4 s .. 1995
A d ju s tm e n t g Is -----J ’ly 1995
B o s to n A L o w e ll i s ...........1907
B o s to n A M a in e 4 has......... 1944
Im p ro v e m e n t 4 s ..............1905
B oat A M o n 3d issu e 7 s ... 1904
B o s to n T e r m in a l 1 s t 3 ^ s . 1947
B o a tU u Gas 1 s t 5s t r re cts-1 9 3 9
2d 5 s t r u s t r e c e ip ts ........ 1939
B u r A M o l i i v e x Os...........1918
N o n -e x e m p t 6 s ................. 1918
S in k in g fu n d 4 s ............... 1910
B u tte A B o s to n 1 s t 6 s ___ 1917
C edar R a p A M o R 1 s t 7s. 1916
2 d 7 s .....................................1909
C e n t V e r m t 1 s t g 4 s .. M a y l9 2 0
C lue B u r l A Q 1 s t 7 s ......... 1903
Io w a 11l v 1st 5 s ............... 1919
Io w a D iv 1st 4 s ................1919
D e b e n tu re 5 s .....................1913
D e n v e r E x te n 4 s ............. 1922
N e b ra s k a E x te n 4 s ........ 1927
B A S W s f 4 s ................... 1921
/ I l l i n o is D iv 3hss............... 1949
J o in t bonds S e e G t N o r th e r n
C h ic Jo U y & S tk Y d s 5s .1915
C o ll t r u s t r e fu n d in g g 4 s l9 4 0
Ch M il A S t P D u b D 6 s .. 1920
Ch M & S t P W is V d iv 6S1920
C hic
N o M ic h 1st g u 5s. 1931
O hic <fe W M ic h g e n 5 s . . . . 1921
C oncord A M o n t cons 4 s .. 1920
C onn <fe Pass R 1 s t g 4 s ... 1943
C u r r e n t R iv e r 1 st 5 s ......... 1927
D e t G r R ap A W 1 s t 4 s ... 1946
D o m in io n G oal 1 s t 6 s ....... 1913
E a s te rn 1 s t g o ld 6 s ..............1906
F itc h b u r g 4 s ........................ 1904
4 s .......................................... 1927
F re n i t E lk <& M o V 1 s t 6 s . . 1933
U n s ta m p e d 1 s t 6 s ...........1933
9 t N o r C B (fe Q c o ll t r 4s 1921
R e g is te re d 4 s .....................1921
N

o t e —B u y e r

J -J
J -J
M-S
A -O
N ov
J - I)
J -J
F -A
M-N
F -A
J-.J
J -J
J -J
J -J
J -J
A-O
M -N
J -D
0 *F
J -J
A -O
AO
M-N
F -A
M-N
M-S
J -J
J -J
A-O
J -J
J -J
M-N
J -D
J -D
A-O
A -O
A-O
MS
M -S
M- S
M-S
A -O
AO
J -J
Q -J

W e e k 's
R a n ge or
L a s t S a le

98*2 99
9 6 34 Sale
99 * 2 1 0 0
9 lha Sale

115

.........

1 0 0 *4 .........
1 0 5 *4 .........
95 .........
99 h> Sale
1U5 * 2 .........
.........
106

9 5 *2
107

125ha.........
125 .........
1 0 6 * 2 .........
100

.........

108*2 1 1 0
1 0 6 *4 .........
1 3 6 *4 .........
1 3 6 *4 .........
9 3 * 4 Sale

H ig h

99
99
9G34
9 6 34
113 *2 F eb ’03
9 9 34 1 0 0
91*2
91*2
104 *2 A p r ’ 00
126 y.i A p r ’01
9 9 7g J a n ’02
101 M a r ’ 03
113*2 J a n ’ 03
113 F e b ’ 03
90 *2 F e b ’03
11 5 ®g 1 10 38
105 *2 J ’ ly *02
99 hi
99h»
101) J ’n e ’01
132*4 M a r ’03
117 *4 F e b ’03
84
84
10038 1DO3*
110 A p r ’01
1 0 1 * 4 A p r ’ 03
10534 F e b ’ 03
99*2
99 *2
106 D e c ’02
93 *2 M a y ’03
95 M a y ’03
106*2 107
97
98
126
126
125ha A p r ’ 03
104 ha A p r ’ 03
107
107
109*4 M a r ’02
1 1 2 * 4 J a n ’03
1 U3 34 F e b ’03
98 A p r ’ 03
iO S 3! A p r ’03
106 *2 M a y ’ 03
1007g M a r ’ 02
1 1 1 * 4 M a y ’ 02
137 A p r ’ 03
137 M a r ’ 03
93
93 h*
9 2 34 M a y ’ 03

■2

•

BONDS

Range
S in c e
January 1

JS'o L o w

1077
B id

H ig h

__
....
....
....
....

1

5

....
2

2

__

__2
....
....

10
6
9

....
....
15

....
....
....

....

37
....

pays a c c ru e d In te re s t in a d d itio n to th e p u rc h a s e p ric e fo r a ll B o s to n B o nd s.

A sk L ow

c ~

H ig h

yo

Range
S in c e
I\ J a n u a r y 1
L ow

H ig h

100 May’ 03
100 100
......... 100
9 9 *4
99 *4 *’i 98 1 0 l h 2
130 F e b ’03
130 130
100 ......... 102 May’ 03
10134 104
112 ........ 112 C Feb '03
112 hi 112*2
03 117 124*4
121
121 121 *2 120
......... 1 0 0

I l l i n o is S te e l deben 5 s ___ 1910 J - J
N o n -c o n v e rt deben 5 s ... 1913 A-O
l a F a lls tfe S io u x C 1 s t 7 s .. 1917 A O
K a n O C lin <fe S p r 1 s t 5 s . . . 1925 A -O
K a n C F t 8 (fe G u lf 1 s t 7 a .. 1 9 0 * J -D
K a n C F t S c o tt A M 6 s . . . . 1928 M -N
K a n C M cfe B gen 4 s ........... 1934 M -S
Spl
In c o m e 5 s ............................ M a r 1934
K a n C A M R y A B r 1 s t 581929 A -O
101 101
113*2113*2 K a n C S t J o A C B 1 s t 7 s ..1907 J -J
L I i A F t S ni Id g r 1 s t 7 s ... 1905 J - J
102^113
80
91
M a in e C ent cons 1 s t 7 s . . .1 91 2 A - O
Cons 1st 4 s ........................ 1912 A - O
115^115^
M a rq H o u g h A O u t 1 st 6 s. 1925 A - O
M e x ic a n C e n tra l cons 4 s .. 1911 J - J
" 99*14 * 99
1 s t cons in o S s ............J a n 1939 J ’ ly
2d cons in c 3 s ............ Jan 1939 J ’iy
1 3 2 14 1 3 2 14
117*4 117*4 M ic h T e le p cons 5s t r re c .1 9 2 9 J - J
M in n e Gen E le c con g 5s 1929 J . J
84
88
100*8101*4 N e w E n g C o t Y a r n 5 s -----1929 F -A
N e w E n g T e le p h 6 s ........... 1906 A - O
6 s .......................................... 1907 A - O
1 0 1 * 4 1 0 2 *2
6 s .......................................... 1908 A - O
1 0 5 ;,4 1 0 5 34
5 s .......................................... 1915 A - O
98 1 0 0 H
N Y A N E n g 1 s t 7 s ........... 1905 J -J
1 s t 6 s ...................................1905 J - J
98
99
93 ha 96*2 O ld C o lo n y g o ld 4 s .............. 1924 F -A
G re g R y A N a v con g 4 s . . 1946 J -D
105 *2 107 34 G re g Sh L in e 1 s t g 6 s ....... 1922 F -A
97
98*2 R e p u b V a lle y 1 s t s f 6 s . . . 1919 J - J
R u tla n d 1 st 6 s .......................1902 M-N
126 128
R u tla n d -C a n a d ia n I s t 4 s l9 4 9 J - J
125*2 127*2
S a v a n n a h E le c 1 st cons 5s. 1952 J - J
104 *2 107
106 107 *2 S e a ttle E le c 1 s t g 5 s......... 1930 F -A
T o r r in g t o n 1 s t g 5 s ........... 1918 M - S
H 2 I 4 I I 2 I4 U n io n P a c R R A 1 g r g 4 s . 1947 J - J
1 s t lie n c o n v 4 s ................. 1911 M-N
1 0 2 h a l0 3 34
U n ite d F r u i t co n v gen 5s. 1911 M -S
98 100
V e r m o n t A M ass 5 s ...........1903 M -N
108 Ls 1 1 0
106*2 107*4 W e s t E n d S tre e t R y g 5s. .1 90 2 M-N
G o ld 4 has..............................1914 M-S
G o ld d e b e n tu re 4 s ........... 1916 M -N
G o ld 4 s ................................. 1917 F -A
137 138
137 137h* W e s te rn T e le p h A T e l 5s. 1932 J - J
89*2 94 ha W is c o n s in C e n t 1 s t g e n 4 s l9 4 9 J - J
W is c o n s in V a lle y 1 st 7 s .. 1909 J - J
9 2 34 94

9 7 34 99*8
46 94 Hi 98°g
. . . . 113*2113*2
11
9 9 *4 101 a4
5 88
92ha
1

W e e k 's
R a n ge or
L a st S a le

iT ic e
F rid a y
M a y 15

BO STO N S TO C K E X C H ’GE
W e e k E n d in g M a y 15

97

8 8 *2

106
101

98 M a r ’ 0 3
99
88 hi
90
Sale
10Gh> 108 4 M ar’03
109 h» A pr ’03
102 A p r ’03
103

*4

123*4 A p r ’03

105*4 M a y ’ 01

118
’8

103

Sale

105

A p r ’03

78

78

26 Jan ’ 03
21 ha J ’ ne’02
83 D e c ’02
104 M ar’ 02
101 May’03
102 A pr *03
105 F e b ’02
104 N ov’ 02
106 *0 M ar’03

l 0 - i ]4 105
1 0 2 *4 ____

104*4 104*4
10 2 34 A pr ’ 03

.........
104 hi 105

1047g 104 7s

lOOha Sale

100 ha

112 May’Ol
100*8 Oct ’02
124*4 N ov’ 02
105 Oct ’ 02
100 J ’ ne’02
102 M ar’02
98*2 95 A pr ’03

104

107

Sale

F e b ’ 03
100

*-2

100^ May’ 03
105h2Apr’ 03
100 Sep ’ 02
101 Oct ’ 02
108 Jan ’ 03
10234 A p r ’03
104*4 F e b ’ 03
104
104
87*4 J ’ l y ’01
114ha A p r ’ 03

* N o p ric e F r id a y ; la te s t b id a n d a sked.

99
91
108 ha 108ha
109 ha 111 *9
104
101
123*4 123*4
98
88

i i ’s " i u T *
75 ha 7 8 34
26
26

100

103

106*9 106 *g
104*4 106
102 34 103 34

95
96h2
104 ha 106
107 107
1 0 0 ha 1 0 1
10058 106
105 111
106 ha 108

10234 10234
103 7g 104*4
10234 105
114h2114

*2

1J T r u s t Co. c tfs .

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
S h a r e P ric e s—■Not P e r C en tu m P r ic e s
S a tu r d a y
M ay 9

M onday
M a y 11

T u esd a y
M a y 12

W ed n esd a y
M a y 13

A C T IV E

T h u rsd a y
M a y 14

STOCKS

( F o r B o n d s a n d in a c tiv e
S to c k s see b e lo w )

J Y id a y
M a y 15

S a les
o f th e
W eek
Shares

R a n g e Jor

Y ea r

1903
L ow est

H ig h e s t

R a n g e lo r P r e v io u s
Y ea r(1 9 0 2 )
L ow est

H ig h e s t

B a ltim o r e

704
•

70*2

2 6 34 26
43
13
13

•70*4 71
*70*2 71
* 1 1 2 ’ 114 34 *
114
25«g 2 5 34
2538 25 ®8
*42*8 4 3 L
4r • • • • • • 13*b
*1 3 ~

70V. 70*o *6 9
* _____ 113
*1 12 *o
25
25
25
25
25*4
42
*42
42*2
127g 1 2 78 * 1 2 7s 13
1 2 78

69*o C o n s o lid a te d G a s........... 1 0 0
113 *0 N o r th e r n C e n t r a l......... 50
25 Seaboard A i r L i n e ........ 1 0 0
42
D o p r e t .................... 1 0 0
1 2 7e U n ite d R y A E le c t r ic . . 50

69*2 A p r
11334 A p r
1,720 23*4 A p r
300 38 *2 A p r
800 1 1 7g A p r
120

22

72 *2 J a n 5 62*4 Ja n 74 *8 Sep
118 J an 12 104 J a n 125*4 J ’l y
14 2 8 * 4 J a n 2 23*8 D ec 3 4 34 A u g
13 45 J a n 2 40 *4 Dec 55 *8 A u g
16 14*4 J a n 3 13 O ct 17 “ M a r
8

P h ila d e lp h ia

24*2
7 318
31 *2
72
42 *g

24
73,fl
31*2
72
42*2

3s

3s

°8

653g 65*2
45
45
7*16 7 *, 6
*12*4 1 2 * 2
277l6 i57**10
*4 2
42*o
*35*4 3 5 34
463g 46®8
95*g 95*4

24*2
24 h?
r?k
7»in
31L
31
*72*4 7 3h i
42*4 42*2

24ha
7*4
31
72
42
3*9

*4

5 10
34

3 10
*2

653ie
44 78
7 *s
12*4
27316
42*4
*35
46^
94*4

65*2 64**18
45
45
7 **.
7 *8
12
12*4
27. *4
27<3ie
42*4 * 4 1 34
35*2
34^
46 5g
46*2
9 4 7e
93*2

P H IL A D E L P H IA
I n a c t iv e S to c k s
A m e ric a n C e m e n t....... 10
A n ie r I r o n A S te e l___ 50
A m e ric a n R a il w a y s ... 50
B e ll T e le p h o n e ..............50
C am bria I r o n ................. 50
Camden A T r e n to n ___ 10
C e n tra l C oal A C o ke .1 0 0
P r e fe r r e d ...................100
Consol T ra c P i t t s ......... 50
P r e f e r r e d .....................50
D a n v ille B e s s e m e r... 1 * 2
D ia m o n d S ta te S te e l.......
P r e fe r r e d .........................
E a sto n C on E le c t r ic . . . 50
E le c tr ic o f A m e r ic a . . . 50
E le c S to ra g e B a t t ___ 100
P r e fe r r e d ................... 100
6 e rm a n to w n P a s s ....... 50
H a rris o n B ro s p r e f . . . 100
In d ia n a p o lis S t........... 100
I n t e r Sm P A l) y n a m ..5 0
K e y s to n e T e le p h o n e ..5 0
P r e f e r r e d .....................50
L i t B r o th e r s ...................10
L it t l e S c h u y lk ill........... 50
M in e h ill A S c h u y l H ..5 0
N e s q u e h o n in g ............. 50
N H a v e n I r o n A S te e l.5
N o r th P e n n s y lv a n ia ..50
P e n n s y lv a n ia S a lt....... 50
P e n n s y lv a n ia S te e l.. 100
P r e fe r r e d ...................100
P h ila Co ( P itts ) p re f...5 ()
P h il G e rm a n A N o r r is . 50
P h ila T r a c tio n ........... .
R a ilw a y s G e n e ra l___ . 1 0
S u squ e li Ir o n A Stee 1..5
T id e w a te r S te e l....... . 1 0
U n ite d N J R R A C.J 1 0 0
U n it P o w A T r a n s .. .25
U n ite d T ra c P i t t s . . .
P re fe r r e d ....................
W a r w ic k I r o n A Steel . 1 0
W e s t J e rs e y A Se
1.50
W e s tm o re la n d Cc
.50

B id

24h?
7 7 i«
31*4
72
42*g
3*g
618

A sk

8
48*2
47*2
65

1

2*4
S 76
TM i
80

10*2
62*2
64*4

63 *2
50hj

4 7e

5*4

107 *s
50
90
48

51
91
4 8 3g

9 6 34

97*4

2

2*4
3*4
3*2
276 278
—

51
5*9
81

24
7 38
30*2
73*2
42*9
3*4

5m
13ie
64 m S4*3 i0
45
44*2 44 \
7
7
7*9
12*4
llh z 1 2
27»i0 2 6 34
27*4
42*4 '4 1 *2 42
3 4 3g *3 4 34 35*4
46*4 46*2
46 *2
92
93
94*4
34
60*4

7 7e
73
47:

24
7*18
29*2
*7 2
42
3*8

5*4
70

6 10
l a 10

24
7*8
29
*72
4 l 34
3*8

24^
H1
<*4
2 9 34
73*2
42
3*9

34
34
64 *2 64*3i6
44*4 44*2
7
7
*11*4 1134
26*2 27 *9
41*2 41h>
3 4 34 34 34
46
46 *2
91*2 92

P H IL A D E L P H IA
Bonds
A l V a l E e x t 7s 1910 A-O
A s p h a lt Co 5s 1949 t r c tfs
A t l C ity 1 st 5s g ’ 1 9 .M -N
B a lls T e r 1 st 5s 1926. J -D
B e rg A E B r w 1 st 6s’2 i J-J
B e tlile S te e l 6 s 1 9 9 8 .Q -F
Che A D Can 1 st 5 s ’ 16 J-J
C hoc A M e 1st 5s 1949 J-J
Ch O k A G g e n 5s ’ 19 J -J
C it S t R y ( I m l) con 5s '33
C ol S t R y 1 st con 5s 1932
C on T ra c o f N J 1st 5 s .’33
E A A 1 s t M 5s 1920 M -N
E le c A Peo T r s tk t r c tfs
E lm A W i l 1 s t 6 s ’ 1 0 .J-J
In c o m e 5 s ___ 2 8 6 2 . A -O
E q 11 G a s-L 1 s t g 5s 1928
H A I i T o p con 5s ’25 A -O
In d ia n a p o lis R y 4s. 1933
L e h ig h N a v 4 *2 S ’ 1 4 .Q-J
R R s 4s g ___ 1914 Q -F
G en M 4 *2 S g . 1 9 2 4 .Q -F
L e h V G 1 s t os g ’3 3 .. J-J
L e h V e x t 4s 1 s t 1948. J -D
2d 7s 1 9 1 0 ................ M -S
C on sol 6 s 1 9 2 3 ....... J -D
A n n u it y 6 s ...............J -D
L e h V T ra c 1 s t 4 s ’29. J -D
N a t A s p h a lt 5s 1 9 5 1 .J -J
N e w Con Gas 5s 1948 J -D
N e w a rk Pass con 5s 1930
N Y P l i A N o 1st I s ’39 J-J
In c o m e 4s 1 9 3 9 ...M -N
N o P e n n 1 st 4s ’ 3 6 ..M - N
D e b e n Os 1 9 0 5 ....... M -S
P e n n gen 6 s r 1 9 1 0 .. V a r
C onsol 6 s c 1 9 0 5 .. . V a r
C onsol 5s r 1 9 1 9 ... V a r
, P e nn A M d S te e l con 6 s.
Pa A N Y C an 7s ’06. J -D
Con 5s 1 939.............A -O
C on 4s 1 939.............A-O
P e n n S te e l 1 s t 5s ’ 17 M -N
People’ s T r t r c e rts 4s ’43
! P Co 1st A col t r 5s’49 M-S

* B id ana asked p ric e s ; no sales o n tin s day.

24
7^16
29
*7 0
4130
3*8
* X4
* 78

64*4
4 3 7a
634
11*4
26*10
42 M
*34*2
46*4
91
*2 6
B id

A m e ric a n A l k a l i ........... 50
*8 J a n 10
*8 J a n 10
*9 Sep
1 Apr
D o p r e f.................... 50
24 C a m b ria ‘S t e e l................ 50 1,339 2 3 ^ M a r lO 2 6 34 J a n 5 23 M ay 29 *s Sep
6
Dec 36 A p r
9aio J a n 2
77!0 C onsol L a k e S u p e rio r.. 1 0 0 8,430 3 13ie M a r l l
D o p r e f.................... 1 0 0 5,297 15 *2 M a r 12 4 0 34 J a n 2 33 Dec 8 0 * 4 A p r
3 0 34
72
L e liig h C oal A N a v ___ 50
20
72 J a n 7 7‘.*;h F e b 5 65 N o v 7 9 34 Sep
41*2 L e h ig h V a lle y ................. 50 2,338 37 7g J a n 3 45 7e J a n 30 29*4 N o v 3 8 h; D ec
2 78 A p r 14
4 J an 6
2 78 F eb
3*9 M arsde n C o...................... 1 0 0 1,295
*8 F eb 6
*4 A u g
*2 F e b 18
h2 N a t A s p h a lt T r Co re c ts 50 1,295
34 J ’ly
l 3i J ’ ly
1
D o p re f T r Co re c ts 50
814
hi J a n 7
1 F e b 16
5 i 0 O ct
4,901
64
P e n n s y lv a n ia R R ......... 50
64*4 M a y 13 7 8 34 J a n 6 7 3 34 J a n 85 Sep
4 3 7g P liila d e lp ’ a Co ( P itts b ) 50 1,356 43 7q A p r 13 4 7 34 F e b 10 43 *2 Dec oOSg A p r
1,245
6*4 M a r l 3
9 Jan 8
3 *g J an
9 h» Sep
6 7g P h ila d e lp h ia E le c t r ic . . 25
1 1 ^ P h ila R a p id T r a u s i t . . . 50
2,615 11 *4 M a y l5 1 7 7s J a n 5
8 * 4 J ’ ne
1 8 7s O c t
2 6 39 H e a d in g ........................... 50 46,341 2 5 a9 A p r 13 34**16J a il 2 26*4 M a r 3<)3io Sep
42*4
Do 1 s t p r e f............. 50
69 4 0 3g A p r l-l 44* * 1*5 F eb 6 40 M a r 45 >8 Sep
35
D o 2 d p r e f ............... 50
1 2 1 33
A p r 16 40 *8 J a n 6 30 J a n 10-V .O c t
853 46 A p r 13 4 7 34 F e b 16 32 J a n 4 8 34 F eb
4 6 * 4 U n io n T ra c t o n ............... 50
91*4 U n ite d Gas I m p t ........... 50 14,196 91 M ay 15 116 *2 J an 31 101 *2 M ay 126 M ay
29
W e ls b a c h C o .................. 1 0 0
24 J a n 8 31 M a r l l | 24 J a n 40*2 Sep
!

A sk

P H IL A D E L P H IA

P h il E le c g o ld t r u s t c tfs .
T r u s t c e rtifs 4 s ..............
22
2 2 h? P A E g e n M 5 g ’ 20. A -O
G en M 4 s g l9 2 0 . . A A O
.......... P li A R ead 2d 5s ’ 3 3 . A-O
93
Con M 7s 1 9 1 1 .........J-I)
...
Con M 6 s g 1 9 1 1 .. ..J -D
120
50
E x Im p M 4s g ’4 7 .A -O
115
113
Con M o t ’ 82 4s ’ 3 7 .J-J
109
T e r m in a l 5s g 1 9 4 1 .Q -F
109*2
... . P W A B c o l t r 4s ’2 1 . J-J
106
R o c h e s te r R y con 5s 1930
S R E Side 1 s t 5s g ’35 J -D
10734
110
U T ra c P it gen os ’97 J -J
99
99*4 W e ls b a c h s f os 1 93 0. J -D
113*o
117 34

B A L T IM O R E
In a c tiv e S lo c k s

107*4
106*2
A t la n t a A C h a r lo tte .. 100
83*2 84 hi A tla n Coast L (C o n n ) 100
108
C a n to n C o.................... 100
104
G e o rg ia Sou A F la . ..1 0 0
107 1 1 0
1 s t p r e f ...................... 1 0 0
n
o
109*2
2 d p r e f ....................... 1 0 0
115
G -B-S B r e w in g ........... 100
121
120
M t V e r n o n C ot D u c k .......
121
U n i t E le c L A P p r e f . 60
137*4 139
60
67
Bonds
6
A n a c o s tia A P o t 5 s...........
5*2
no
108
A t l A C h 1 st 7 . . . 1907 J -J
A t l C oast L ( C t) c tfs 5s J -D
115*4
C tfs o f in d e b t 4 s ___ J -J
92
B a ltC P a s s 1 st 5 s ’ l l M -N
111
B a lt F u n d g 5 s .1916 M -N
104
E x c h a n g e 3 his 1930 J*J
R e fu n d in g 3 his 1952J-J
115
116*2
B a lt A P 1 st 6 s m l ’ l l A-O
105*2
115
1 st 6 s tu n n e l. . 1911 J -J
113*4 . . • • • • B a lt T ra c 1 s t 5 s .. ’ 29 M -N
N o B a lt D iv 5s 1942 J -D
110*2
111
C o n v e rtib le 5 s .*06 M -N
C e n tra l R y 6 s ...1 9 1 2 J -J
98
C onsol o s ___ 1932 M -N
E x t A Im p 5 8.1932 M -S
103*2 104
109*4 Chas C ity R y 1 st 5s ’ 23 J -J
109

U L o w e s t is o x -d iv id e n d .

t E x -a llo tm e n ts .

I B id

A sk

99

9 9 3i

66*4

66*2

|

B A L T IM O R E

Chas R y G A E l 5s ’99 M -S
C h a ri C A A e x t 5 s .’09 J -J
2d 7 s ............... 1910 A -O
115
C it jr A S ub 1st 5 s .. ’22 J -D
105*2 107
C ity A S u b ( W a s ) ls t 5s’ 4S
123*4
124
125
C ol A G r n v 1 s t 6 s. 1916 J-J
C onsol Gas 6 s . . . 1910 J -D
116*2
104
lu 7
5 s ...................... 1939 J -D
103
106
G a A A la 1st con 5s ’45 J -J
123
G a C a r A N 1 s t 5s g ’ 29 J -J
106 34 G e o rg ia P 1 s t 6 s . . . ’ 22 J-J
GaSo A F la 1st 5s 1 9 4 5 J-J
G -B-S B r e w 3-4s 1 951M -S
3.12*2 113
2d in c o m e 5s 1951 M -N
114*2 117
64
K n o x v T ra c 1 s t 5s ’2 8 A -0
65
L a k e R E l 1 s t g u 5 s ’42M -S
M e tS t( W a s h ) ls t5 s ’ 2 5 F A
M t V e r C o t D u c k 1 s t 5s.
In c o m e s ........................
160
N e w O il Gas 1 s t 5 s ..V a r
225
300
N p t N A O P 1st 5s’38 M -N
95
99
N o r fo lk S t 1 s t 5 s ’4 4 ..J -J
46
N o r th C e n t 4 *2 8 1925 A -O
98*4 1 0 0
6 s 1 9 0 4 ........................ J -J
73
78
S eries A 5s 1 9 2 6 ___ J -J
13
13 h?
S eries B 5s 1 9 2 6 ___ J -J
3 34
4*4
P i t t U n T ra c 5s 1 9 9 7 .J -J
37
38
P o to V a l 1st 5s 1 9 4 1 .. J J
Sec A v T ( P itts ) 5s ’34 J -D
S av F la A W e s t os ’34 A-O
97
99
Seaboard A L 4s 1950 A -O
111*2 112*2
Scab A R oa n 5s 1 92 6. J -J
112
113
91*2 92*2 S o u tli B d u n d 1 st 5 s ..A -O
U E l L A P 1st 4*2S’ 29 M -N
106
U 11 R y A E l 1st 4s ’49 M -S
123*2 124
In c o m e 4s 1 94 9 ........J -D
110*2 1 1 1
V a M id 1st 6 s 1 9 0 6 ..M -S
113
2d se ries 6 s 1 9 1 1 ...M -S
3d se ries 6 s 1 9 1 6 ..M -S
4 th ser 3-4-5s 1 9 2 1 .M -S
115
5 tli se ries 5s 1 9 2 6 .M -S
120*2 1 2 1
V a (S ta te ) 3s n e w ’3 2 .J -J
101
100
F u n d d e b t 2-3s 199 1. J J
115
W e s t N C con 6 s 1914 J J
W e s V a C A P ls t O g ’ l l J-J
116
W i l A W e ld 5 s ..1 9 3 5 .J -J
107
105

B id

90
115
117
114
97
116*2
110*2
113*4
11 0 * 2

A sk

93
116

99
118

111

113*2

111

110 110*2
122*2
115
50ha
36*4

100

51
3 6 34

118
117
69

120*4

105
108

108
110*2

110

69 *2
23

103 34 105 *4

120
120

114
116
114*2 115*4
115
114
82 34 83*3

112
110

112

86
93

87

68*4

63*2

105
170
117

93*4

112
113
92
92
115

93*2
94

112*2 113*4
121

1078

THE

C H R O N IC L E

Volume of Business at Stock Exchanges

O r s S e c u r itie s
I n d ia n a p o lis Gas sto c k 50
1 s t 6s 1 9 2 0 .............M -N
J a c k s o n Gas C o ......... 50
5s g 1 9 3 7 .................. A-O
T R A N S A C T IO N S A T T H E N E W Y O R K S T O C K E X C H A N G E
K a nsa s C ity G as......... 100
D A IL Y . W E E K L Y A N D Y E A R L Y
" 5 s 1 9 2 2 .................... A-O
' [L a c le d e G a s............... 100
H P r e f e r r e d ............... 100
S to c k s
W eek e n d in g
L a fa y ’ e G a s ls t 6 s '2 4 .M -N
R a i l r o a d <Lc
S ta te
V S
M a y 15
Log<fcW abV 1 s t 6s’25.J -I)
Bonds
Bonds
B onds
P a r v a lu e
1903
S h ares
M a d is o n Gas 6s 1926. A-O
N e w a rk Gas 6s 1 9 4 4 .Q-J
$18,286,400
$1,9
96
,5
00
193,154
N e w a rk C onsol G as. .100
S a tu r d a y ........
$ 10,000
1 .765.000
3 3,395,700
345,862
5s 1948 S e e S to ck E x c h
M o n d a y .........
3 .007.000
3 2 ,5 7 9 ,5 0 0 1
1O.0OO H O & In d C N a t & IU .100
357,345
T u e s d a y .........
2 .50 7.50 0
46,290,800
501,543
1 st 6s 1 9 2 6 ............... J -D
W e d n e s d a y ...
11.000 P ro v id e n c e G as..............50
37,575,2001
2.466.500
402,012
T h u r s d a y .......
2,600 S t Jo sep h Gas 5s 1937. J-J
47,460,1001
1.718.000
$ ,
503,986
F r i d a y ............
S tP a u lG a s G en 5s’ 44M -S
$
33,600
2,303,902 $ 21 5,5 8 7,7 00 | $12,560,5001
$ 6,0 00
S yra cuse Gas 5s 1946. J-J
T o t a l ............
U n ite d G a s & E le c , N J 100
P r e fe r r e d ................... 100
W eek e n d in g M a y 1 5
J a n u a r y 1 to M a y 1 5

6 0,00

S a le s at
N e w Y o r k S to c k
E xchange

1903

|

1902

1902

1903

75,123,447

S to c k s —X o. shares

2,303,902

2.562.759

5 8,980.224

G o v e rn m e n t bonds
S ta te b on ds.............
R R . a n d m is. bonds

$ 33,600

12.560.500

$12,500
23.000
14,747,000

$597,250
2 66.600
2 55 ,58 1 ,10 0

$36 3,6 0 0
1,195,500
393 ,71 0 ,10 0

T o ta l b o n d s___

$ 12 ,60 0 ,10 0

$14,782,500

$25 6,4 4 4,9 50

$ 39 5,2 6 9,2 00

P a r v a l u e .......... $215,587,700 $ 23 5,2 1 3,7 00 $5,573,214,975 $7,095,029,825
$31 5,5 0 0
$211,800
$5,200
$11,300
B a n k sh a res, p a r ..
BONDS
6 ,0 0 0

D A I L Y T R A N S A C T IO N S A T T H E B O S T O N A N D P H I L A D E L P H I A
EXCHANGES
W eek e n d in g
M a y 15
1903

P h ila d e lp h ia

B o sto n
L iste d
sh a res

Bond
sa le s

U n lis te d
sh a res

L iste d
sh a res

U n liste d
sh a res

Bond
s a le s

2 2 .0 0 0
2 2 ,0 0 0

5,958
14,900
11,482
17,196
14.810
17,246

3,342
5,709
6,074
10,033
9,748
5,849

$12 2 ,0 0 0
2 15,000
31,300
30,400
73,600
85,200

$222,800

81,592

40,755

$557,500

S a tu rd a y ........
M o n d a y .........
T u e s d a y .........
W ednesday. .
T h u r s d a y .......
F r i d a y ............

11,480
13,149
11,711
16,049
10,295
15,233

5,140
5,903
6,938
5,559
7,451
8,596

$32,000
96.000
33,300
17,500

T o t a l...........

77,917

39,587

Outside Securities
A

B id

A sk

NEW YORK CITY

B id

36
101
248
1004
109
List
113
101*2
270
124
215
190
lis t
120
118
103*2
415
109
415
75
112
100
lis t
x li s t
x lis t
205
217
106
117
180
111
108
lis t
108
109
G a s S e c u r itie s
11658
415
NEW YORK
104
118
C e n t U n io n Gas 1 s t o s ...
109
C on Gas ( N Y ) s t k . S e e St
E q u it G a sco n os 1932 S e e
BROOKLYN
H M u tu a l G a s ...............100
A t la n A v e 5s 1 9 0 9 ..A -O § 1 0 4 4 105
N e w A m s te rd a m Gas—
113
1 s t co nso l 5s 1 9 4 S ..J -J
Con 5s g 1 93 1 ......... A -O 111
N Y G E L H A P S e e S tock
I m p t 5s S e e S to c k E x c h li s t
103
N Y & E a s t R iv e r Gas—
B B & W E 5s 1 9 3 3 ..A -O 101
B r o o k ly n C ity s to c k ... 10 243 244
1 s t 5s 1 9 4 4 ................ J-J
C on 5s S e e S to c k E x c h lis t
C onsol os 1 9 4 5 ......... J-J
B k ln (Jrosstn 5s 1 90 8. J-J 104
106 'N o r U n 1 st 5s 1 9 2 7 .M -N
B k n H g t s ls t 5 s 1941 A-O 105
107
H S ta nd a rd Gas com ..1 0 0
B k ln QCot f c S ub S e e S tk E x c h lis t
* P r e f e r r e d ...............100
B k ly n R ap T r a n S e e S tk E xch lis t
1 s t 5s 1 9 3 0 .............M -N
R e f g 4s 2002 ........... J-J § 82
OTHER CITIES
HC oney Is . <fc B k ly n ..1 0 0 385 410
99
100
A m e r L ig h t & T r a c t. 100
H is t 5s 1903 ............. J-J
100
P r e fe r r e d .................. 100
99
5 s c r t f s in d b t 1 9 0 3 .. J-J
116
B r k C & N 5s 1939. J-J 114
B a ltim o re C o n s o lid a t S e e
B a y S ta te G a s ...............50
G r St<&New 1st 5s ’ 06 F -A 103
G r ’p t <fcLorim er S t 1 s t 6s 105
B in g h a m to n Gas os 1938
B u ffa lo C ity Gas sto cklO O
K in g s Co. E le v a te d —
1 st 5s 1947 S e e S to c k
1 st 4s 1949 S e e S tock E x c h li s t
C hicago Gas S e e X Y S tk
N a ssa u E le c p r e f........100
8 3 4 84
C in c in n a ti Gas & E le clO O
114
5s 1 9 4 4 ...................... A-O 113
1 s t 4s 1 95 1 ........... S e e St k E x c h lis t Col Gas L A H e a t com 100
P r e fe r r e d .................. 100
104
N W b ’ g & F la t 1 st e x 4 4 s 103
C onsol Gas (N J ) s tk . 100
118
S te in w a y 1 st 6s 1 92 2. J-J §117
1 st 5s 1 9 3 6 ................ J-J
O T H E R C IT IE S
C ousum Gas (J C ity ) —
1 st 6s 1 904.............M -N
B u ffa lo S tre e t R y —
H D e tro it C ity G a s ....... 50
1 s t consol 5s 1 9 3 1 ..F -A $ 1 1 2 4 114
E ssex & H u d s o n Gas 100
D eb 6s 1 91 7 ............. A .O §104 107
F o r t W a y n e 6s 1 9 2 5 .. J-J
C h ica g o C ity R y s tk . 100 200 205
HGas & E l B e rg e n Co IOC
C h ic U n io n T T a c S e e S t’ ck E x c h lis t
G ra n d R ap ids Gas—
C le v e la n d C ity R y ___ 100
90 100
H is t 5s 1 9 1 5 ........... F -A
81
C le v e la n d E le c tr R y .1 0 0
H a r tfo r d (C t) Gas L . . . 2 5
90
92
C o lu m b u s (O ) S t R y . . l0 0
H u d s o n Co G as........... 100
P r e fe r r e d ................... 100 105
5s g 1949 ................ M -N
C o lu m R y con 5s S e e P li ila lis t
In d ia n a N a t & 111 Gas—
C ro s s t’ w n l s t 5 s ’ 3 3 .J-D § 1 0 7 4 n o
D e t r o it U n ite d R y See S tk | E x c h Jlist
1 s t 6s 1908.............M -N

B le e c k S t & F u l F s tk 100
H is t m o r t 4s 1950 ..J -J
f lB ’y & 7 th A v e s tk ..1 0 0
H is t m o rt 5s 1904 ..J - D
H 2 d m o r t 5s 1914 ... J - J
C on 5s 1943 S e e S to ck
B ’ w a y S u r f ls t 5 s g u 1924
2d 5s i n t as r e n ta l 1905
H C en t’l C ro s s t’ n s t k . . 100
H is t M 6s 1922 . . . M - N
HCen P k N <fc E R s tk . 100
H C lir’ t ’ r <fc 1 0 th St s tk 100
C o l& 9 tli A v e 58 S e e S to c k
H D ry D E B & 3 s t k . 100
H is t g o ld 5s 1 9 3 2 ...J -D
H S c rip 5s 1 9 1 4 ___ F -A
H E ig h th A v e n u e s t . . . l 0 0
H S crip 6s 1 9 1 4 ___ F -A
H42d & G r S t F ’y s t k .. 100
H42d S t M & S t N A v 100
H is t m o r t 6s 1910 .M -S
H 2 d iu c o m e 6s 1915 J-J
L e x A v & P a v F 5s S e e St
M e tro p o l S e c u ritie s S e e
M e tr o p o l S tre e t R y S e e
N in t h A v e n u e s to c k . 100
Second A v e n u e sto cklO O
H is t m o r t 5s 1909 M -N
C on sol 5s 1 9 4 8 ........F -A
H S ix tli A v e n u e s to c k 100
Sou B o u le v 5s 1 9 4 5 ..J-J
So F e r 1 st 5s 1919. . . A - 0
T h ir d A v e n u e S e e S to ck
T a r r y W P & M 5s 1928
Y k e rs S tR R 5s 194 6A -C
2 8 th <fc 2 9 th S ts 1 st 5s ’96
H T w e n ty -T h ’ d S t s t k 100
D e b 5s 1 9 0 6 ............... J-J
U n io n R y 1st 5s 1942 F -A
W e s tc lie s t 1 st 5s ’43 J-J

33
100
247
100
1074
E xch
§112
§101
265
§123
210
1S5
E xch
115
116
103
405
105
410
70
111
96
k E xc
S tk E
S tk E
190
215
§104
§116
175
§110
§105
E xch
107
108
115
408
102
115
1034

S tr e e t R a ilw a y s

G ra n d R a p id s R y ___ 100
P r e fe r r e d .................. 100
In d ia n a p o lis S t R y S e e
J C H ob
P a te rs o n ..100
4s g N o v 1 1 9 4 9 ...M -N
L a k e S t (C h ic ) E l s t k . 100
1 s t 5s 1 9 2 8 ................ J-J
H L o u is v S t 5s 1 9 3 0 .. J & J
L y n n & Bos 1st 5s ’2 4. J -D
M in n e a p S t R y 5 s See S tk
N e w O r l R y s C o......... 100
P r e fe r r e d .................. 100
4*23 1 9 5 2 .................... J -J
N o r t h C h ic S t r s to c k . 100
1 s t 5s 1909 .............. J-J
N o r th J e rs e y S t s t o c k l00
4s 1948 .................... M -N
P a t R y con 6s 1 9 3 1 ..J -D
2d 6s 1 9 1 4 ................ A-O
R o ch e s te r R y ...............100
P r e fe r r e d .................. 100
C on 5s 1930 S e e P h ila
2d 5s 1 93 3 ................ J -D
So Side E l (C h ic ) s t k . 100
S yra cu se R ap T r 5s 1946
U n i t R y s (S t L T ra n s ) 100
P r e fe r r e d .................. 100
G en 4s 1 9 3 4 ___ See S tk
U n itR y s S a n F r a n SeeStk
W a s h R y & E l C o___ 100
P r e fe r r e d .................. 100
4s 1 9 5 1 ......................J -D
H W e s t C hica go S t ___ 100
HCon g 5s 1 9 3 6 .. ..M -N

§ Buyer pays accrued interest.

1 P rice per share.

A sk

60
56
95
97*2
P h ila lis t
17
76*2 77*2
5
5*s
§100*4
§114
117
§116 *2 118
E x c h lis t
14*2 15*4
41*2
82
§ 81
120
121
§ .........
21
23
80
80*2
§122*2 130
§100
70*2 73
97
99*2
lis t
§103
106
102
105
i o i 34 102*2
26
27
78
80
E x c h li s t
E x c h lis t
11
41*2 42*2
78*4
7734
62
67
§ 89
90

§109
k E xc
S tk E
290

110
li lis t
x lis t
320

§108
109
E x c h lis t
§111
§108
§106
130
150
§114

113
111
108
140
166
116*2

80
99
B a lt

84
101
lis t
*•4
516
§ 94
97
7
9
E x c h li s t
E x c h lis t
98*2 99
90
95
101 103
17
87
90
§100
f .......
92
62

96
66

§103
105
t 49
53
64
68
§10434 105*4
47

t Bale price.

52

I n d u s t r ia l a n d M is c e l
B id
A sk
C onsol T o b a c c o ...........100 280
300
R i g h t s ...............................
35
C o n tin e n ta l T ob ae deb 7s J1 0 1
104
§101
103
25
C ra m p s ’ Sli<fcEn B ld g lO O
32
16
14
H C rn c ib le S te e l........... 100
17*2 18
§101
101*2
H P re fe rre d ..................100
82
8238
95
105
D is t ille r s ’ S e c u ritie s . . S e e Stk E x l i s t
100
110
20
D o m in io n S e c u r itie s . 100
5
63
67
E le c tr ic B o a t................100
20
30
53
57
P r e fe r r e d ...................100
40
45
§106
109
E le c tr ic L ead R e d u c ’ n.50
2
1*2
§130
141
P r e f e r r e d .....................50
3
34
74*2 75 *2 E le c tr ic V e h ic le ......... 100
10
114
lis t
P r e fe r r e d ...................100
16*2 17
13
8
E le c t! o -P n e u m ’ic T ra n 10
%
4
53
57
E m p ire S te e l............... 100
13*2 16
1 112
P r e fe r r e d ...................100
50
53
94
97
F u e l O il P o w e r ...........100
23
24
80
92
H G e n e ra l C h e m ic a l ..1 0 0
68
73
§ 97*2 99
H P re fe rre d ................. 100 1 0 0
102
40
42
G old H i l l C o p p e r ......... 1 1 516
%
85
90
G o rh am M fg Co com . 100 1 2 8 * 2
P r e fe r r e d ................... 100 1 2 8 * 2
T e le g r & T e le p h o n e
G re e n e C onsol C opper. 10 I 2 2
22 4
1
0
A m D e F o r ’t W ir e le s s l 00
1 1 4 G u g g e n h e im E x p lo r a t i’n 115
125
80
82
H A m e r T e le g & C able 100
14
H a c k e n s a c k M eadowsLOO
16
98 lu 3
B e llT e le p h o f B u ffa lo 100
95
H a ll S ig n a l C o ........... 100
105
98 100
H C e n tra l & So A m e r .1 00
20
H a v a n a C o m m e rc ia l. 100
24
44
48
62
Ches & P o to T e le p h .. 100
P r e fe r r e d ................... 100
70
5s 1909-29...................J-J 1 0 6 l4 107
H a v a n a Tobacco C o ..l0 u
44
P r e fe r r e d ....................100
50
60
^ C o m m e rc ia l C able ..1 0 0 150 164
C om raer U n T e l (N Y ).2 5 115
H e c k e r-J o n e s -J e w ’ l M ill
78
82
E m p & B a y S ta te T e l 100
96 1 0 0
1 s t 6s 1 9 2 2 ................M-S
47
53
F r a n k li n ........................ 100
1
3
H e r r in g - H a ll- M a r v in 100
30
40
1 s t p re fe r r e d ..............100
H G old <fc S t o c k ........... 100 120 123
4
8
2d p re fe rre d ..............100
H 4 4 s, 1905 ...............
95
100
H o b o k e n L a n d & Iin p lO O 2 0 0
H u d s o n R iv e r T e le p h 100
74
634
105
H5s 1 9 1 0 ...................M -N §103
M a r c o n iW ire le s s T e le g .5
125
8
H N o rth w e s te rn T e le g . 50 121
H o u s to n O i l ................. 100
6*2
20
50
P r e fe r r e d ................... 100
H N Y & N J T e le p h o .1 0 0 1 6 4 4 166
111
100
J 20
H5s 1920 ................... M -N i 108
H u d s o n R e a lty ...........
75
80
105
In te r b o r o R T ( f u l l p a id ) 1 0 2
P a c ific & A t la n t ic ....... 25
105
90
p a id ......................... 1 0 2
P ro v id e n c e T e le p h o n e . 50 1115
97
100
190
H S o u th e rn & A t la n t ic 25
I n t e r n a t ’lB a n k in g C o lO O
7
T e l T e l & C able o f A m .15 f ___
10*2
I n t ’n ’l M e rc M a r in e . 100
114
30
29
P r e fe r r e d ...................100
E le c t r ic C o m p a n ie s
97*2
C o l t r deb 4 4 1 9 2 2 o p ’07
159
11*2
C h ic a g o E d is o n C o ... 100 156
In te r n a tio n a l S a lt___ 100
124
43
46
E d is o n E l 111 B r k 4s X Y S to c k E xch
1 s t g 5s 1 9 5 1 .............
9
H a r tfo r d (C t) E le c L t 100 210
In te r n a tio n a l S ilv e r . 100
51
HK in g s Co E l L & P C o 100 195
P r e fe r r e d ................... 100
103
N a rra g a n (P ro v ) E l Co 50 1107*2
1 st 6s 1 9 4 8 .................J-D § 1 0 0
42
ISO
46
J o h n B S te ts o n c o m .. 100 150
X Y & Q E 1 L & P o w C o lO O
72
170
75
P r e fe r r e d ................... 100
P r e fe r r e d ................... 100 150
R lio ls l E le c P ro te c OolOO 129
K itc h e n e rG o ld M in ’ g 100
*2
34
15
17
U n ite d E le c tr ic o f N J 100
97*2 9734
L a c k S te e l 5 s .’ 2 3o p .to ’ 00
75
73
4s 1 9 2 9 ........................J -D
L a n s to n M o n o ty p e ___ 20 t
9 4 104
185
L a w y e rs M o r t in s u r . 1 0 0 177
F e r r y C o m p a n ie s
L a w y e rs ’ T it le I n s . ..1 0 0 320 330
10
33
B ro o k ly n F e r r y sto cklO O
L ig h t F ue hfcP o f W V a lO O
334
111
.••••*
B & N Y 1 st 6s 1 9 1 1 .J -J 109
H L o r illa r d (P ) p re f ...1 0 0 1 2 0
10
30
C on 5s 1948 S e e S to ck E x c h list
M a d is o n Sq G a rd e n .. 100
80
85
70
2d 6s 1 91 9 ............... M -N
N Y & E R F e r r y s tk . 100
94
4*4
44
1 s t 5s 1 9 2 2 ............. M -N § 93
M a n h a tta n T r a n s it ___ 20
7
98
6
M e x N a t C o n s tru e .p flO U
N Y & H o b o k e n s tk . 100
§109
110
H o b F y 1 st 5s 1946 M -N
M o n o n g a h e la R C o a l..50 1 1 0 * 4 1 0 4
107 4
P r e fe r r e d ..................... 50 t 3934
C on 5s 1 946............. J -D 107
1 U8
M o s ie r Safe C o........... 100
102 4
X Y & N J 1st 5s 1 94 6. J-J 104
50
60
24
24*4
1 0 th & 23d Sts F e r r y 100
N a tio n a l C a rb o n ......... 100
96
97
1 s t m o rt 5s 1 9 1 9 ...J - D §104
P r e fe r r e d ................... 100
30
32
37 *2 39
H U n io n F e r r y s to c k .1 00
H N a t E n a m & S ta m p 100
91
89
90
H is t 5s 1920 ........... M -N
H P re fe rre d ................. 100
91*2
135
N a tio n a l S u r e ty ......... 100 125
R a ilr o a d
4
X e w B ru n s C a n iie lC o a l 10 t .........
50
10
47
8
H X e w C e n tra l C o a l___ 20
C h ic Peo & S t L p re f. 100
17
14
108
N e w E n g C on sol Ic e . 100
P r io r lie n g 4 4 s ’ 3 0 M A S §106
93
98
C on m tg g 5s 1 9 3 0 .J & J
N e w E n g T ra n s p o r..lO O
4
4
22
116
26
In c o m e 5s 1 93 0 ...............
N Y B is c u it 6s 1911. M-S 113
130
C h R I & P a c 5s ( w h is s ) § t
91*2 N Y M tg e & S e c u r ity . 100 125
24
28
H N e w Y o r k D o c k ___ 100
E r ie c o n v 4 s A p r 1 ’ 53 (w i) * 87*2 8 8
52
00
96% 97*4
H P re f e r r e d ............... 100
N o r th e r n S e c u ritie s .. 100
S
36
7
N Y T r a n s p o r ta tio n .. .20 t
P itt s Bess & L E ..........50 f 33
78
N ic h o ls o n F ile C o___ 100 160
P r e fe r r e d ..................... 50 t x 7 3
10
25
11
31
N o r A m L u m ’ r A P ulplO O
V a & S o u th w e s te rn .. 100
634
5
1 s t g u a r g 5s 2 0 0 3 . . S e e S tk E x lis t H O n ta n o S i l v e r ......... 100
42
41
O tis E le v a to r c o m ___ 100
I n d u s t r ia l a n d 3 iis c e l
95
96
P r e fe r r e d ...................100
105
32*4
P itt s b u r g B r e w in g ___ 50 1x32
A llia n c e R e a lty .......... 100 100
15
16
46*4
P r e fe r r e d ..............
50 t 46
HA H i s -C h a lm e rs .......... lo u
P itt s b u r g C o a l..............100
84
29*4 29%
H P re f e rre d ................. 100
___ • •
88
P r e fe r r e d ................... 100
58
H A m e r B a n k N o te Co. 50 t 57
139
50*4 P it t s P la te G la s s........100
A m B a r r e l & P a cka g e 100
100
105
7
7*4 P r a t t & W h itn p re f..
A m e ric a n Can c o m ... 100
355 360
46
P r e fe r r e d ...................100
46*2 P ro c te r & G a m b le ___
201
200
120
A m e ric a n C ln c ie C o .. 100 115
120
115
90
93
P r e fe r r e d ...................100
103
1034
A m e ric a n E le v a te d .........
*2
34
63
3
t 61
A m e r G ra n h o p h o n e ...lO
4*2
176
172
P r e fe r r e d ..................... 10
7*2
8*2
85
95
14
S e m in o le
t
34
A m e r Press A s s o c ’n .1 0 0
150
46
50
A m e r S h ip b u ild in g ... 100
135
130
103
P r e fe r r e d ................... 100 1 0 1
135
133
3
6
A m Soda F o u n c o m ..1 00
78
82
S in g e r M fg Co........... 100 350 360
1 s t p re fe rre d ..............100
8
6
20
2 2 ** S ta n d a rd M il l i n g Co
2d p re fe rre d ..............100
29
26
P r e fe r r e d .................. 100
170
A m e ric a n s u r e t y ......... 50 168
76
73
46
48
5 s ........................ .
A m S tra w b o a rd re c ts 100
650 660
96
98
B o nd s 6 s .................... F -A
32
28
A m e r T ob acco c o m ... 50 2 S0 350
135
125
145
H P re f e rre d ................. 100 142
1
33
34
36
A m T y p e fo ’rs c o m ... 100
92
S w ift & Co S e e B o s to n S t k E x c h ’ ge
95
P r e fe r r e d ................... 100
434
103
1 s t 5s 1 9 1 0 -1 9 1 4 ....J - J § 1 0 1
5
A m e r W r it in g P a p e r. 100
29
P r e fe r r e d ................... 100
20*2
2 1 * 2 T ennessee C o p p e r ___ 25 t 28
98
90
74
75
5s 1 9 1 9 ........................J-J
§105
20
1074
1 s t 6 s 1908.
23
H B a rn e y & Sm C ar ...1 0 0
470 4 SO
HP r e fe r r e d ................. 100 125
m
152
150
B lis s C o m p a n y c o m ___ 50 135
20
234
150
P r e fe r r e d ..................... 50 135
94
90
B o n d & M tg G u a r n e w 100 370 380
mmmmm
70
B o rd e n ’ s C ond M i l k . . 100 116 119
t
2
24
110
P r e fe r r e d ................... 100 1 0 8
t 85
C am den L a n d ................. 20
4
%
P r e fe r r e d ..................... 50 1 ......... 105
C e llu lo id C o...................100 118 1 2 2
117
21
U n io n T y p e w r c o m .. 100 114
23
C e n t F ire w o r k s co m . 100
121
60
119
1 s t p re fe r r e d ..............1 0 0
65
P re fe rre d ............... ...1 0 0
123
119
2 d p re fe r r e d ..............1 0 0
3 *2
C e n tra l F o u n d r y ....... 100
3 7e
5
17
2
U S C o tto n D u c k ........100
IS
P r e fe r r e d ...................100
69
28
70
U S E n v e lo p e c o m ... 100
D e b 6s 1919 op ’0 1 M -N
75
70
H P re fe rre d ................. 100
C e n tu ry R e a lty ......... 100 1 0 0 1115
104
U S L ig h t & H e a t . . . . 10 t 1 0
C he seb rou gh M fg Co 100 450 470
32
30
95
100
HU S Red & R e fin in g .100
H C la tlin (H B ) l s t p r e f 100
50
54
95
100
H P re fe rre d ................. 100
H2d p re fe r r e d ........... 100
4
2
95 1 0 0
HU S S h ip b u ild in g ...1 0 0
H C om m o n ................... 100
30
3
60
65
H P re fe rre d ................. 100
Col & H o c k C o a ltfe l p f 100
86
B o n d s — S e e S to c k E x c h l i s t
87**
1 s t g 5s 1 9 1 7 ............. J-J
924
U S S ilv e r C orp 6 s (w i)
4
3*2
C om pressed A i r C o ... 100
83*4
60
C o n s o lid C ar H e a tin g 100
67*2 U S S te e l C orp 5s (w h iss) § 83
• •••••
25
35
C o lt r 5s S e r B & D 1951 1 1 0
HCons F ir e w ’ ks com .1 00
3
1
55
U n iv e r s a l T o b a c c o ... 100
65
H P re f e rr e d ................. 100
3
5
P r e fe r r e d ...................100
5*4
C ons R y L tg & R e fn g .lO O
••••
C onsol R u b b e r T ir e . . 100
*2
1 * 2 W e s tin g li A i r B r a k e ..50 U 6 2
W h ite K n o b M in in g . 100
164
10
6
D e b e n tu re 4 s..............
120
W o r th in g P u m p p r e f . 100 115
15
20
C ons S to ra g e B a tte r y 10U
B id

SO
103
81

A sk

85
106

:uo

7

W e e k l y R e v ie w o f O u tsid e M a r k e t w i l l be fo u n d o n a p r e c e d i n g p a g e .

S tr e e t R a ilw a y s

[V O L . L X X V I .

a E x rights.

7
17*2

k Exchange,
E x c h a n g e b a t not a very active
HSells on Stock

arity.
security.

_

M ay

16, 1903.]

THE

1079

CHRONICLE

luutstraeut and jKailroacl Intelligence*
R A IL R O A D

GROSS

EARNINGS.

The following table shows the gross earnings of every Steam railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from Jul> I to and including such latest week or month.
The re tu rn s o f the str eet ra ilw a y s a re b ro u g h t tog eth er sep a ra tely on a su bsequ en t page.
July 1

Latest a r o s e h u n tin g s

ROADS

W eek
or M o n th

Current
Year

A la G t Southern. 1st w kM ay
A la N O * iexa*- Pacific.
N O & N o East. \ p r i l . .......
A la A Vicksb’g A p r il ........
Vlcksb Sh A P. A p r il .......
A lleg h en y Valle} H arch ___
A nn A r b o r .......... 1st w kM ay
A n n Wash Ac Bal F ebruary
A te ll Top A 8 Fc M arch.
A tla n ta A C har. F eb rua ry..
A t l K u o x v A No A p r il........
A tla n tio A B lrm 5la r c h .......
A tl Coast L in e .. M arch ...
B a lt A A n n S L .. F e b ru a ry .
B a lt A O h io ........ A p r il ........
B angor & Aroosi F e b ru a ry .
B a th A H u u T d sp ’ t M a rc h ___
B e lle fo n te C ent’] A p r il........
B r id g t A Saco R. M arch .......
B u tl Rooli A Pitts 1st w kM ay
B uttalo A S u s q ... M a rc h ___
Canadian Nor.'h.. 4 th w k A p r
Canadian PacllU 1st w kM ay
Cane B e it .......... F e b ru a ry..
C ent’l or G eorgia Lst w kM a y
Cent’ l o f N Jersey M a rc h .......
C e n tra l Pacific. F e b ru a ry ..
C hattan S outk’ n. Lst w kM ay
Chesap A O h io ... 1st w k lla j
Chic A A lto n R y . M a rc h ___
Chic G t W estern. 1st w kM ay
Chic Im l A L ’ v . . . l s t w kM ay
Chic M ilw A Bt P M aroh ___
Chic A N o rth W’ n M a rc h ___
Chic St P M A O. Maroh . . . .
Chic Term T r RK 4 th w k A p r
C in N O A T P a c . l s t w kM ay
Cl Cin Oh A Bt L l s t w kM ay
Peoria A E a st’ ll l s t w k M a y
Colorado A Bouth i st wkM ay
Col New!) A Lau. M arch .......
Copper Range.... M aroh .......
C o rn w a ll............ M a rc h .___
C o rn w a ll A L e b .. M a rch .......
C um berl'd V a lle } M arch ___
D eny. A Rio Gr. ( l s t w kM a y
R io G r. West. }
D e t A M ackinac. M arch. ..
D e tro it Southern. ls t w kM ay
D u l Bo Bh A A t l. . l s t w kM ay
E r ie ...................... M a rc h .......
E va nsv A In dia n 1st w k May
Evaii8Y A T f l . . . l s t w kM a y
F ’r c liild A N ’r ’e'n M a rch ___
F a rm v A Powhat F e b ru a ry .
F t W A Denv C ity M a rc h ___
Georgia I t R ........ M a rc h .....
Ga South A F la .. A p r il ........
G ila V a l G A N .. M aroh ___
G r T ru n k System * st w kM a y
G r T r. w e s t’ll 4 th w k A p r
D e t G r U A M . . 1th w k A p i
G reat N o rth e rn .. A p r il........
M on tan a C en t’l A p r il........
T o ta l system . A p r il........
G u lfA S h ip Is la n d M a rc h ___
H ockin g V a lle y.. l s t w kM a y
H o us A Tex Cent F e b ru a ry .
Illin o is C entral. A p r! 1........
Illin o is Southern A p r i l ........
In d 111 A Io w a ... M arch. ..
l n t A G t N o rth 'n 1st w kM ay
U n te ro c (M e x )... W k A p r 25
Io w a C e n tra l___ l s t w kM a y
Iro n R a ilw a y ___ M arch ___
Kanaw ha A M ich l s t w kM ay
K a n C ity S outh’n ls t w kM ay
LakeE neA W estn A p r il.......
Lehigh Val RR. M arch ___
L e x in g A E ast’ll M a rc h .......
Long Is la n d
M a rc h ___
Lou H end A St L. F e b ru a ry .
L ou isv oc Nashv. 1st w kM ay
Macon A B ir m ... A p r il........
M an’tee A G r. Rap M a rc h .......
Mania A N o Easi M a rch .......

53,419

P reviou s
Year

$
41,087

to L a test

C u rrent
Year

P a te.

ROADS

P revio u s
Year

July I

Latest O r oss L a m m g s
SVeeic
or M onth

C urrent
Year

P reviou s
Year

to

I.u Lest IJiiti $
P revio u s

cu rren t
Y ea r

Yen r

*

2,303,287

2,122,576

M a n is tiq u e ......... X p r ll........
M a ry l’d A Penn., M a rc h .......
198,520 170,201 1.912,161 1,696,800 t M exican U o iit’l.t ls t w kM ay
965,849
77.828
102,504
872,427 t M exican In te rn . M arch___
910,871' ; M exican R y ....... Wk a or. 2 5
110,962
98.187 1,069;964
I n c . 413,105
/■ne. 66.359
; M exican Hou th ’ n 11li wk Api
28.426 1.704,011 1,618,395 Ml lien A So’ w ’ u. M a rc h ___
31,23*,
54,484
5,620
55,388 M in e ra l Range.. 1st WKMa}
5.256
5,257,313 1.794,270 47,15**544 44.820,176 M inueap A Bt L. Lst w kM ay
236,961 2.107,131 1,989,694 M Bt P A B St M . ls t w kM ay
24*,051
579,918
51,628
59.450
518,721 Mo Kan A Tex a* 1st w k May
190,252
98,448 Mo Pac A Iro n M l l s t w kM ay
12.527
26,936
H 885,300 f 1628394 t l 3,984684 112361944
C e n tra l Branch ls t w kM ay
7 8 ,1 11
7.130
71,021
8.947
T o ta l.............. 1st wkM ay
5.500,152 4,748,829 51,869,668 17,687,857 Mob Jack A K 0 . Wk. M ay 2
129.333 139,072 1,127,114 1,094,651 j M obile A O h io ... A p r il
28,794 Nash Ch A s t L .. Lst W !kM i]
26,806
2,250
2,333
54,392
48,445 jN a t’l RR o f Mex Lst w k M tt;
5,719
5,803
38,071
2,714
31,813 N ev-C al-O regon. A p r il ........
3.963
138,543 131,901 6.210,253 5,248,528 Nevada C e n tra l.. February.
746,765
65,590
85,728
629/237 N Y 0 A H ud Riv A p r il ........
36,800
60,700
N Y O u t A West. M a rc h ....
890,000 748,000 36,759.406 31,833,999 N Y Susq A West M a rc h .......
155,813
114/268 N o rfo lk A West’ n ls t w kM ay
11,334
10,020
146,060 124,250 7,997.427 6,759.363 N orthern C entral M a rc h ___
12,510,103
12,355,342 N o rth ’ u Pacitio.. A p r il.......
1,566,102 1,138.671
1,170,835 1,324.945 14,018,140 13.727.099 N or Shore tC a l).. M a rc h .......
1,807
81,718 Ohio R tv A West.. F e b ru a ry .
103.558
2,710
321,954 332,155 14,003,008 14.219,837 Pacitio Coast Co. M arch ___
874,007 756,956 7,683,422 7,132,140 ePenn—EastP A E M a rc h .......
141.269 126.580 6.601,812 6,520.911
eWest P A E ... M arch.......
99,599
89,239 4.278,990 3.849.732 Pere M arq u e tte w l s t w kM ay
3,995,769 3,740,369 36.063,241 34.817.100 P hila B a lt A W’sh M arch .......
1,4449369 3.474,201 1,37003*42 34,098,672 P hlla A E r ie ....... M aroh .......
990,626 982,062 9,288,82* 9,127,196 Pine B lf A r k R
M a rc h .......
44,646
41,496 1,444,236 1,3 10,412 P ittsb C C A St L M a rc h ....
4,701,030
5,074,72.
►
99,113
122,743
Reading R a ilw a y M a rc h ___
393.075 353,690 16,938,144 15,880,630
Coal A I r Co___ M arch. ..
57,991
52.146 2,450,844 2,148,674 Rich F r ’ksb A P . MareU___
130,733 111.032 5,187,201 4,684,403 | Rio G rande J o t.. F ebruary.
139,175 Rio G rande B o ... 1 st w kM ay
148,8o5
20.343
22,747
277.032
186,029 Rock Is l’d S y s t’ri) M a rc h .......
38,437
18,199
66,35*
7,114
86,358 R u tla n d ............ l s t wkMay
7,417
251,170 St Jos A G r I ....... M a rc h ___
24,741
20,821
179,30*
890,072 St L A San F ran g Lst wkMay
137,510
88.427 1.107, *11
1st w kM tt}
322,300 304,300 14,802,339 14,474,358 St L Southw est
St L Van A T H . . A p r i l ___*
692,645
93,282
040,215 San A n t A A P ... M a rc h .......
103.247
21,050 1,220,885 1,054,546 San F ra n A N P .. A p r il ___
24,332
50,004 2.306,380 2/260,594 Seaboard A ir L .. 4 th w k A p r
51,645
3,965,956 3,304,923 33,068,070 30,738.354 Southern l u d ___ A p r il....... .
291,394 So Pacitio Co b . . . M a rc h ____
341,859
5,310
6,20b
25,794 1,473,353 1,263,712
33,528
C e n tra l Pacific. F ebruary.
30,694
•27,293
3,627
3,651
Gal H a r A B A . F eb ru a ry.
46,141
51,056
3,452
5,871
G al H ous A No F eb rua ry..
174,069 169,017 1,923,333 1,670,641
G u lf W T A P . . February.
218,664 179,386 1,805,449 1,552,518
H ous E A VV T. F e b ru a ry ..
93,207 1,352,488 1,045,377
129.270
H ous A Shrev.. F e b ru a ry..
271,582
232,586
28.428
30,601
H ous A T c x Cen F eb rua ry..
673,720 601,865 28,1*9,985
L ou is’ a W e s t... F e b ru a ry ..
138,885 122,003 4.168,517 3,657,701
M orga n ’s L A T F eb rua ry.
950/258
22,931 1.008,144
2 3,7*4
N Y T A M ex .. February..
2,910.014 2,639.337 33.171.740 29,387.324
Oregon A C alif. F eb rua ry..
180,996 170.624 1,748,684 1,463/246
So Pac Coast.... February..
3.091,016 2,809.961 34,920,424 30.850.570
Bo Pac R K Co.. February..
144,165 113.736 1/263,365 1,012,523
T ex A N O rl....... F e b ru a ry..
123.690 113,025 4,878,175 4,396,533 Southern R a ilw ’ y 1st w kM ay
373,795 359,315 3,732,046 3,721,329 Terre H A In d . .. A p r il ........
3,305.236 36,964,903 34,057,842 T erre I I A P e o r.. A p r il.........
112,139 Texas C en tral . .. l s t w kM a y
124,606
9,915
1 0 ,9 i0
160,517 145,385 1,320.293 1.287.153 Texas A P a cific.. ls t w kM ay
84,994
81,264 4,743,922 4,416,130 Tex S V A N W .. a p r i l .......
109,400 107,100 4,138,30< 4.432.075 T ol A Ohio C e n t. 1st w kM a y
43,907
41,662 2,090,621 2,168,934 T o i P A W e s t___ ls t w kM ay
61,321 Tol S t L A W ....... 1st w k May
8.750
65.623
7,949
939,647 T o r H am A B u tt . 3d w k A pi
27.986
21,091 1,004,143
115,837 110,856 5,428/289 4,871,441 Un Pac p ro p e r... 1st wkMay
410.298 367.870 4.000.860 3,772.556 On Pac S y s te m .. M a rc h ___
2,973.064 1,950,570 19,272.055 19,577.791 W a b ash ............... 1st wkM ay
297,485 W Jersey A Sea'e M arch ...
404,629
35,084
50,76*
I n c . 392 1°9
I n c . 56 ,323
Wheel & L E ....... 1st w kM a }
464,705 Wm’sport A N .B r. M a r c h ___
539,715
51,775
60,090
656,840 564,995 29,989,054 25,989,753 W isconsin C e n t.. 1st wkMa.'
104,949 W rig h tsv A T ’n .. M a rc h .......
127,079
9.041
10,625
108,049
96.905 Yazoo A M iss. V. A p r i l ........
13.580
7,65*
254,544
264,832
28,972
33,170

08,07 i
8,034
58.283
3,002
25.177
20.622
505,481 372.045 19,70*2.717 15,603/207
692,89* 510.373 5 .3 0 0 ,3 12 4.600.405
92,600 4.327,61 * - 3.712,100
90,500
737.077
24,167
820,403
20,186
36,859
2 9.4 b 3
3,603
3,011
470,150
11,109
11,183
508,384
6 4,4*4 2.815,99b 2,075.330
50.627
125.36 1 108.625 6,111,025 5.198,007
279,258 266.926 14,991,10* 11.147.075
636.000 562.000 33,717.615 30,067,182
18,000
13,000 l.o >5,93* 1,034,580
654.000 575.000 34,773,553 32,001,762
3,243
6,282
213,9261
137,882
705.059 557,622 0,411,974 5 ,37 1,7-9
184,146 145,860 8,032,005 0,720.001
i3
211,653 190,859 8,721.970 0. /
158.875’
125,611
13,701
16.177
26,345
2 6 ,0 8 1
2,266
2,700
6,565,865 5,783,793 64,168,529 59,032,52 L
557,227 462,42* 4,357,911 4,355,005
275,578 196,417 1.814,181 2,089,037
409.086 332,470 17,612,513 14,841,423
869,210 671,310 6,807,879 6,327,779
3,553,727 3,246.847 39,191,397 35,271,965
384,999
40.830
331,6 / 1>
33,567
120,900
129,997
12,751
12,331
424,113 369,394 4.117,024 3,770,740
87,178,520
10138504 *,686.104
77,700,520
In c . 3,9 58,300
I n c . 61 0,100
207.815 3 85,110 9,014.750 8,350,130
1,090,307 963,607 9 ,6 0 *,7 o l 8,783.701
617,126 475,061 5,031,*91 o ,lb 3 , 103
27,14*
3,211
28,275
2,993
2,108,936 1,870.175 17,362,94* 16.247.147
3,105,731 2,440,129 22,831.595 22,208,482
1,698,011 1,772,286 14,284,913 21,028,005
96,122
114,202
403,468
37,805 ’ 389,464
36,709
4So,oo4
471.664
9,608
9.778
1*34758654
03830485
42,433
37,727 1,971,467 1,727,895
128,053 107,931 1,064,941 1,037,117
0594,815 0481,921 027280487 023916*31
136,617 * 127,463 <>,353,603 6,308,200
207,913 176,364 1,982,110 1,771,256
166,161 173,282 1,910,311 1,925,210
910,532
81.729 1.055,012
94,437
295,154 293,254 10,570,189' 9,611,249
501,174:
754,307
51,210
90,249
6.881,516 6,520.001 65,785,502 63,405.348
1,170.835 1,324,945 14,018,140 13,727,009
477,287 548,377 4.491,306 4,013,329
25,685
84,096
306,770
780,297
115,071
7,541
100,483
8,448
645.923
623,786
68,722
68,785
162,12*
158,791
18,316
17,577
373,795 359,315 3,732.046 3,721,329*
131.911 148,064 1,300,075 1,281.452
350,791 428/237 3,364,092 3,904.917
250,768
3L7.027
20,136
28,765
275,123 237,621 2,619,342 2,283,277
61,734
626,895
617,516
51,576
2,192,857 2,223,739 20.125,571 19,470,032
215,167 220,077 2,132,886 1,909,288
795,981 709.568 30,328,023 32,489.502
153,898 131,776 1,561.422 1,40 f ,005
490,520
41,902
461 .*5 6
46,338
533.035
536,045
7,659
7,363
191,149 177.325 10,094.013 10,117.0*7
9,600
131,800
10,700
135.394
64,482
51,355 2,761,660 2,408,635
17,244 1,050,900
22.476
900.156
48,982 2,706.435 2,276.175
53.350
393,941
401,301
11,858
10,037
60 L,231 521.801 24.402,059 23,505,582
4.099,133 3,476,959 38/235.980 36.189,409
440,459 329,269 17.9 12,705 16 ,3 5 6 ,3 , *
283,9iO 285,710 3,009,870 2.838,570
85,802
72,630 3,518,151 2,036.466
139,530!
14.333
08,209
6.521
122,700 113,002 5,565.9531 5,048,878
15,266
115,033
143,6 i(>
12,785
528,637 534,526 6,102,699 5,677,902
1

VARIOUS
ROADS

Cross Warnings

FISCAL

Current Y ear P reviou s Year

TEAKS.
ROADS

G ross L a m i n g 8

Current Year P revio u s Year*

$147,420 ! M exican R a ilw a y .............. Jan. 1 to A p r. 25 $1,751,700 $1,592,100
In c.
1 to M ar. 31
83.261
2,634,986 ’♦ Mexican S o u th e rn ............ Apr. 1 to A pr. 30
1 to Feb. 28 $2,783/269
86.381
2,967.524
18,937 ^N ational R R o f M e x ic o ... Jau. 1 to M ay 7
3.746,044
I to A pr. 30
24,479
438.415 N o rth e rn C e n tra l............... Jau. 1 to M ar. 31
2,011,525
675,350
1 to A pr. 30
2,443,725
33.587
3,665,462 N o rth Shore......................... M ar. 1 to Mar. 31
40,830
4.835/279
1 to Mar. 31
1 t<» Mar 31 U 41.004.210 38,911.774 ePennsy., E a st o f P A E . .. Jan. 1 to Mar. 31 27,935,202 24,822,202
1.213,100
Inc.
2,755,292
1 to 31ar. 31
eWest o f P A E ................. Jan. 1 to 51ar. 31
2,786,501
3.112,622
253,948 Pere M a rq u e tte ...................
1 to Mar. 3I
3,711,51 i
390,810
4,653,725
5.173.625
1,766.282
1,631.447 P liila B a ltim o re A W ash.. Nov. 1 to Mar. 31
1 to M ay 7
1,358,790
1.627,120
1,465,295 P hila d elph ia A E rie .......... Jan. 1 to M ar. 31
1 to Apr. 30
1,540.286
5,642,606
99,442 P itts Cin Chic A- St L o u is.. Jan. 1 to M ar. 31
5,310,649
103,613
1 to M ar. 31
124,830
128,308
23,654 Rio G rande J u n c tio n ........ Dec. 1 to Feb. 28
1 to Apr. 30
14.771
1,177,222
1.034.493
11,743,386 Bt L V andalia A Terre H .. Nov. 1 to A pr. 30
1 to M ay 7 14,049.987
r?
925.147
832,179
325.175 Terre H au te A Iu d ia n a p .. Nov. 1 to A pr. 30
1 to M ay 1
436.131
285,892
259.952
1 to M ay r*1 14,4 *6 ,11 * 12,068,561 Terre H aute A P e o ria ....... N ov. 1 to Apr. 3o
4.076,604
3,*94.616
6,976,021 Texas A P a c ific __
1 to M ay 7
6,816,161
693.764
652,564
1 to Mar. 31
1,575,809 W est Jersey A Seashore... Jau. 1 to Mar. 31
1,927,866
1M exican currency, t Results on M onterey A M exican G u ll are included fro m M arch 1, 1 9 0 i. t c o vers lines d ire c tly operated. t> In clud es
the H oust. A Tex. Cent, and its subsid. lines.
a In clu d e s th e Chicago A E astern Illin o is in both years.
t In c lu d in g Sav. F lo r. A West, in b o th
years, r O ther incom e n o t inclu de d iu the gross e ith e r lo r m on th o r fro m J u ly 1 . w In clud es Lake E rie A Det. R iv. Ry. fro m Jau. 1 both y ears.
H Inoludes trans-M issouri lines in 1903, beg in niu g M arch 1, m aking le n g th o f road on w h ich earnlaga are re p o rte d 7,357 in 1903, a g a in s t
5,876 m iles in 1902.

A lleg h en y V a lle y ............... Jan.
A tla n ta A C ha ri A ir L in e . Apr.
Bellefonte C e n tra l............ . Jan.
Canadiau N o rth e i u............ Jan.
C entral o f New Je rse y___ Jan.
Chicago A N o rth W estern. June
Chic St P M in n A' O m aha.. Jan.
Cum berland V a lle y ............ Jan.
In te rn a tio n a l A G tN o r th ’n
Lake E rie A W e ste rn ........ Jan.
Manistee A N o rth Eastern Jan.
M a n is tiq u e ........................... Jan.
M issouri P a c ific .................. Jan.
C entral B ra n c h ............... Jan.
T o ta l................................ Jan.
♦Mexican C entral t ............ .hill.
^Mexican In te rn a tio n a l
IJan.

Ian.

I

THE CHRONICLE

1080

Latest tfross Earnings by Weeks.—In the table which
follows we sum up separately the earnings for the first
week of May. The table oovers 53 roads and shows 14 94 per
cent increase in the aggregate over the same week last year.
1st

w eek o f M a y .

1903.

1902

In crea se.

$
12,332
5,810
6,642
142,000
21,810
903

33,52?

$
41,087
28,428
131,901
748,000
124,250
1,807
332,155
126.586
89.239
99,113
353,690
52,146
111,032
304,300
21,050
50,004
5,516
25,794

673,720

601,865

71,855

123,690
34,994
43,907
27,986
115,837
656,840
505,184
11,183
50,627
125,364
279,258
636,000
18,000
184,146
211,653
409,086
207.815
9.608
42,433
594.815
136,617
795,981
7,363
191,149
64,482
22,476
53.35C
601,231
440,459
85,802
122,700

113,02*
81,264
41.662
21,091
110,856
564,995
372,045
11,109
64,484
108,625
266,926
562,000
13,000
145,860
190,859
332,470
185,110
9,778
37,727
481,921
127,463
709,568
7,659
177,325
51,355
17,244
48,982
521,801
329,269
72,630
113,002

10,665
3,730
2,245
6,895
4,981
91,845
133,439
74

T o ta l (63 roads)........... 10,504,395
N et Increase (14 94 p.o.).

9,139,068

Alabama Gt. Southern
Aun Arbor.......................
Buffalo Kooh. & Plttsb’g
Canadian Pacllio__ ....
Central of Georgia.........
Chattanooga Southern...
Chesapeake * O hio.......
Chicago Great Western
Chic. Ind’plls & Louisv.
Cln. N. O. & Texas Pao..
Clev. Cln. Chic. & 8t. L ..
Peoria & Eastern.......
C olorado* Southern...
Denver & Rio G rande'.
Detroit Southern...........
Duluth So. Shore & Atl..
E vansville* Indianap..
Evans. & Terre Haute...
Grand Trunk...
Grand Trunk West
Det.Gd. Hav. * Mllw,
1=1
Hocking Valley,
international & Gt. No..
Iowa <central.................
Kanawha & Mlohlgan...
Kansas City Southern...
Louisville & Nashville..
Mexican Central.............
Mineral Range...............
Minn. & St. Louis........ .
Minn. St. P. & S. Ste. M..
Mo. Kansas & Texas___
Mo. Pacific & Iron Mt....
Central Branch............
Nashv. Chat. & 8t. Louis.
National RR. of Mexloo.
Norfolk & Western........
Pere Marquettet.............
'.-tic Gran de Southern...
Rutland R R ....................
St. Louis * 8an Fran.. )
Chicago & East. 111.. 5
St. Louis Southwestern..
Southern Railway. . . . . .
Texas Central.................
Texas & Pacino............. .
Toledo * Ohio Central..
Toledo Peoria A West’n..
Tol. St. L. & West...........
Union Paolflo.................
W abasn.......... ...............
Wheeling * Lake Erie...
Wisconsin Central........

57,991

51,645

6,200

__

14,683
10,360
23,630
39,386
5,845
19,701
18,000
3,282
1,641
684
7,734

16 739
12,332
74,000
5,000
38,296
20,794
76,616
22,705
4,706
112,894
9,154
86,413
13,32%
13.127
5,232
4,368
79,430
111,100
13,172
9,698
1,389,851
1,365,3 27

D ecrea se.

$

____
10,201

_______
___ _ m,

_____

13,857

170

296

_______ .

24,52 4

t Includes Lake E rie & D e tro it

R iv e r Ry.

For the fourth week of April our final statement oovers
62 roads, and shows 17*25 per oent increase in the aggregate
over the same week last year.
4 th

w ee k o f A p r i l .

1903.

1902.

In cr e a se .

*
S
P re vio usly rep’d (52r’ds> 14,818,053 12,662.794
A labam a Gt. Southern..
85,550
75,800
A la . N. O. & T ex. Pac.—
60,201
New O rl. & No. E a s t..
74,520
81,82t<
A la . & V ic k s b u rg ........
39,504
45,962
V ic k s . 8h. & Pao.........
34,18''
Canadian N o rth e rn ........
60.700
36,800
173,320
2^8.423
Cln. N. O. * Texas Pac..
1107,100
1109.400
In te ro c e a n lo ( M e x .) ___
196,500
192,600
M exican R a ilw a y ..........
55,43.
R u tla n d R R ......................
60,843
22,126
10,689
Texas C e n tra l.................

$
2,206,222
9,750

T o ta l (62 roads)............ 15,641,58) 13,340,750
N et Increase il7 '2 5 p. o.i

2.351,794
2,300,831

t

D eer e a ie .

*
50,963

14,319
7,676
11,775
23,900
55,103
2.300
3,900
5,412
11,437
50,963

Week ending A p r il 25.

[V o l . L X X V I
G r o ss E a r n i n g s .— - ,------ N et E a r n i n g s . ------.
C u rren t
C a r rent
P rec io u s
P r e v io u s
Y ea r.
Y ea r.
Y ea r
Y ea r.

,—

$

R o a d s.

$

$

$

B r ld g t. & Saoo R .b M a r.
3,963
1,174
399
2,714
J u ly 1 to Mar. 3 1 ....
38,071
13,844
31,813
9,209
C e n tra l N ew E n g .b .—
Jan. 1 to Mar. 3 1 ....
128,515
144,776
29,683
36,906
441,55Z
J u ly 1 to Mar. 31___
442,692
76,469
116,957
467,063
O h lo .In d .& L o u ts .a .M a r.
386,326
188,632
147,950
J u ly 1 to Mar. 3 1 __ . 3,741,022 3,375,208 1,449,695 1,291,274
22,747
20,343
O o lu m .N e w b .* L .b .M a r.
10,302
8,565
148,865
139,175
J u ly 1 to M ar. 3 1 .....
49,170
47,400
38,437
18,199
Copper Range ...... Mar.
18,673
6,800
277,032
136,029
123,768
J u ly 1 to M ar. 3 1 ___
44,187
7,114
7,417
C o rn w a ll.a ...............Mar.
1,607
2,206
J u ly 1 to Mar. 3 1 ....
66,358
86,358 y d f 40,085
40,070
20,824
24,741
C o rn w a ll & L eb an .. Mar.
10,466
11,413
179,308
254,470
75,486
J u ly 1 to Mar. 3 1 ....
121,864
Delaware & H ’ dson C o .A lb a n y * S u sq.b.—
579,044
Jan. 1 to Mar. 3 1 .... 1,203,356 1,115,943
563,647
J u ly 1 to Mar. 31___ 3,390,210 3,644,277 1,704,485 1,938,992
N. Y . * C an ad a.b.—
300,544
238,320
128,5 ’ 1
89,034
Jan. 1 to Mar. 31___
999,530
869,232
455,876
399,380
J u ly 1 to Mar. 3 1 ___
Renns. & S a r.& A d lr. b606,273
197,747
698,360
136,797
Jan. 1 to Mar. 31 —
807,184
799,972
J u ly 1 to Mar. 3 1 ..., 2,478,231 2,181,227
793,726
798,593
Gr. T ru n k o f C a n ...M a r. 2.385,558 2,068,749
J u ly 1 to Mar. 3 i ___ 20,145,256 17,996,341 5,847,863 5,741,740
382,020
70,564
62,778
476,917
G r. T ru n k W est... Mar.
456,959
503,200
J u ly 1 to Mar. 31___ 3,692,904 3,233,317
104,630
86,624
25,306
33,579
D e t.G r. H . * M il.M a r.
251,714
867,595
269,166
921,107
J u ly 1 to Mar. 3 1 ---Ullno) s C e n tra l... a .Mar. 3,958,657 3,509,116 1,337,376 1,232,531
J u ly 1 to Mar. 31___ 33,258,788 30,752,606 10,183,483 10,248,819
Long XslaDdb—
15,834
953,423 def.5,923
Jan. 1 to Mar. 31___ 1,104,800
J u ly 1 to Mar. 31___ 4,648,621 4,256,492 1.136,246 1,222,807
M anhattan E le vate d b —
.Tan. 1 to Mar. 3 1 ---- 3.280,064 2,878,236 1,765,936 1,477,858
J u ly 1 to Mar. 31 . . . 8,936,548 7,808,660 4,777,844 3,691,182
8,034 def.1,710
1,575
3,002
M an lstlq u e. b .......... Apr.
8,094
23,654 def.1,879
Jan. 1 to Apr. 3 u ....
14,771
479,861
430,997
c M exican C ent e..Feb. 1,929,987 1,450,557
952,744 1,025,649
Jan. 1 to Feb. 2 8 .... 3,950,647 3,080,526
N ew b .D utch . A Conn b —
12,589
8,125
41,951
37,208
Jan. 1 to Mar. 31 ___
41,959
33,724
135,820
127,461
J u ly 1 to M ar. 31___
New Jersey * N . Y o rk b —
19,112
79,989
75,062
5,609
Jan. 1 to M ar. 3 1 ___
34.991
75,930
156,347
269,395
J u ly 1 to M ar. 3 1 ___
New Y ork C e n tra l b—
Jan. 1 to Mar. 3 1 ___ 18,696,882 15,384,040 5,278,566 4,751.443
J u ly 1 to Mar. 31___ 57,602,664 53,248,728 18,148,958 18,339,009
N. Y. N. H . & H a rt, b —
Jan. 1 to Mar. 31___ 10,878,172 9,727,210 2,124,723 2,452,498
J u ly 1 to M ar. 31___ 34,473,628 31,954,006 8,971,655 9,826,288
N. Y . & K o cka w a y B .b —
24,166 d e f.19,335 def.10,822
28,039
Jan. 1 to Mar. 31___
137,124
126,841
288,119
298,745
J u ly 1 to M ar. 3 1 ....
151,559
195,546
475,061
617,126
P h lla .’ * E r le . b .......Mar.
361,236
396,883
Jan. 1 to Mar. 3 1 .... 1,627,120 1,358,790
35,713
30,638
96,122
114,202
Rich. F re d . & P o t..M a r.
R u tla n d RR b —
434,910
63,867
98,948
497,364
Jan. 1 to M ar. 31___
466,919
525,209
J u ly 1 to Mar. 3 1 ___ 1,743,144 1,516,784
S taten Is la n d R a ilw a y b 32,552 def.3,129 def.14,354
29,307
Jan. 1 to Mar. 31___
12,352 def.2,875
121,215
133,277
J u ly 1 to M ar. 3 1 ---9,493
11,935
81,791
95,353
ToLP eorla * W est.bApr.
231,742
948,912
237,880
J u ly 1 to Apr. 30 . . . 1,028,424
U ls te r & D ela w a re —
20,654
32,953
104,607
125,011
Jan. 1 to Mar. 3 1 ___
154,378
155,244
505,944
482,899
J u ly 1 to Mar. 31---164,557
74,131
523,704
555,855
Yazoo A M iss.V a l.a.M a c.
J u ly 1 to Mar. 3 1 .... 5,574,062 5,143,376 1,411,340 1,690,904

a N e te a rn ln g s h e re g lv e n a rc a f t e r d e d u c tin g ta x e s .
i»
earnings here g iv e n a re b e fo re d e d u c tin g ta x e s
5
O p eratin g expenses of th is year lnolude te m p o ra ry increase In cost
o f fu e l fo r the th re e m onths o f $620,266, and fo r the n in e m onths o f
$900,261.
c These figures are in M exican ourrenoy, and are c o n v e rtib le In to
gold a t the c u rre n t ra te o f exchange,
e R esults on M onterey & M exican G u lf inclu de d fro m M aroh 1,1902.
y A fte r a llo w in g fo r about $50,000 e x tra o rd in a ry expenses d u rin g
N ovem ber and December, 1902, fo r re -ra llln g the road.

Net Earnings Monthly to Latest Dates.—The table follow­
ing shows the gross and net earnings of S
railroads
reported this week, A full detailed statement, including all
roads from whioh monthly returns oan be obtained, is given
onoe a month in these columns, and the latest statement of Interest Charges and Surplus*—The following roads, In
t h i s kind will b e found in the C
of April 18(
1908. The next will appear in the issue of May 23, 1903. addition to their gross and net earnings given in the fore"
—
.— -----. going, also report charges for interest, &o., with the surplus
above or defloit below those oharges,
team

h r o n ic l e

G r o ss E a r n i n g s
P r e v io u s
C u rren t
Y ea r.
Y ea r.

R o a d s.
$
$
In c. 66,359
A lle g h e n y V a lle y ...M a r.
Ino. 147,420
Jan. 1 to M ar. 3 1 ___
197,507
171,503
A n n A r b o r . b ..........Mar.
J u ly 1 to Mar. 3 1 ___ 1,494,441 1,437,493
51,739
63,063
A t l. K n o x . * N o.a.M ar.
467,093
520,468
J u ly 1 to Mar. 31.
B a l t . * O b lo .b .......Apr. 5,500,152 4,748,829
J u ly 1 to A pr. 3 o __ 51,869,668 47,687,857
5,719
5,813
B e lle fo n te C e n tr a lb Apr.
18,937
24,479
Jan. 1 to Apr. 3 0 ....
B oston * A lb a n y —
Jan. 1 to Mar. 31___ 2,343,618 2,077,493
J u ly 1 to Mar. 3 1 ___ 7,530,839 7,088,241
B o s to n & M a in e .b .—
Jan. 1 to M ar. 31___ . 7,804,998 7,112,257
J u ly 1 to Mar. 31 ___ 24,999,258 23,792,650

X et E a r n in g s.
P r e v io u s
C u rren t
Y ea r
Y ea r.

$
$
Ino. 19,070
Deo. 27,115
80,543
51,616
514,369
444,954
18,391
23,351
162,097
181,371
2,004,393 1,569,373
19,228,298 17,192,493
1,628
2,362
10,285
7,459
561,476
2,531,299

538,257
2,517,134

§1.873,790 §1,938,775
§6,898,761 §6,972,771

,—

Tut., R e n t a ls , etc .— >r-JloJ, o f N e t E a m ’g s .—.
P r e v io u s
C u rren t
P r e v io u s
C u rren t
Y ea r.
Y ea r.
Y ea r.
Y ea r.

$
R oa d s.
$
$
$
1,840
425
522
1,203
B e lle fo nte C en tral Apr.
5,371
8,585
1,700
2,088
Jan. 1 to Apr. 3 0 ....
B oston & A lb a n y —
836,461
843,174 *df,182865 *d f.229931
Jan. 1 to Mar. 3 1 ....
*245,270
*323,143
J u ly 1 to M ar. 3 1 ---- 2,495,027 2,542,715
Boston & M aine—
*22,079
Jan. 1 to Mar. 3 1 .... 2,040,430 2,027,278 *df.63,635
J u ly 1 to Mar. 3 1 .... 6,102,676 6,031,748 ‘ 1,154,832 *1,332,245
Oent. New E n g la n d —
*1,631
38,306 *def.7,067
38,726
Jan. 1 to Mar. 3 1 ....
*7,443
116,052 *df.33,368
115,872
J u ly 1 to Mar. 3 1 ....
1,383
12,801
5,417
5,875
Copper R ange........ Mar.
73,865 def.2,322
54,903
46,509
J u ly 1 to Mar. 3 1 ....

THE CHRONICLE.

Ma y 1G, 1903.]
,— In/., Rentals, etc.— .
P reviou s
Current
Year.
Year.
$
$

o f Xet E a ru ’gs.—.
Previous
C urrent
Year.
Year.
$
$

Roads.
D elaw are A H u d son —
A lb an y A Susq. b .—
272,674
309,005
2 5 4 ,6 4 1
Jan. 1 to Mar. 3 1 . . . .
300,370
940.865
77 2 ,1 6 6 1 ,0 4 8 .1 2 7
July 1 to Mar. 3 1 ___
932,329
N. Y. A C anada—
34.275 d ef. 2,825
94,236
91,859
Jan. 1 to Mar. 3 1 . . . .
178,021
119,676
279,704
July 1 to Mar. 8 1 . . . .
277,855
B ens. A Sar. A A d lr.—
319,783, d f.1 2 6 ,0 0 3 d f.1 8 2 ,9 8 6
323,750
Jan. 1 to Mar. 3 1 . . . .
9 5 1 ,8 3 4 d f.1 5 8 ,5 2 5 * d f.l4 2 ,3 1 7
July l to Mar. 3 1 . . . .
965,709
L ong Islan d R R .—
362,045 *df.291179 *df.291473
Jan. 1 to Mar. 3 1 . . . .
342,309
*140,772
*219,317
Ju ly 1 to Mar. 3 1 . . . . 1,196,476 1,222,888
M anhattan E lev . B y .—
*941,460
658,335 *1,132,461
743,572
Jan. 1 to Mar. 3 1 . . . .
July 1 to Mar. 3 1 . . . . 2,136,295 2,043,821 *2,898,221 *2,161,873
Newb. D ’ tcbess A C on n .—
*8,179
*3,756
4,506
4,550
Jan. 1 to Mar. 3 1 . . . .
*27,850
*19,411
14,452
14,566
July 1 to Mar. 3 1 ___
New J ersey A New Y ork —
15,406 •def.5,492
14,464
*4,OOo
Jan. 1 to Mar. 3 1 . . . .
46,340 *d ef.2,483
44,522
*29,932
July 1 to Mar. 3 1 ___
New Y ork C en tra l—
■642,996
Jan. 1 to Mar. 3 1 . . . . 5,047,861 5,270,691 *1,509.280
July 1 to Mar. 3 1 .__ 15,412,845 15,494,981 *6,719,594 *0,489,758
N. Y . N. H . & H a r t fo r d .—
‘ 125,729
*478,826
Jan. 1 to Mar. 3 1 . . . . 2,070,342 2 ,0 5 2 ,6 7 7
July 1 to Mar. 3 1 . . . . 6,167.058 0,127,530 *3,152,012 *4,276,523
N. Y . A R cok a w a y B .—
15,422
17,030 d e f.34,757 d e f.2 7 ,8 5 2
Jan. 1 to Mar. 8 1 . . . .
*81,907
*87,252
51,090
46,261
Ju ly 1 to Mar. 3 1 . . . .
R utlan d R R .—
127,984 *d f.24,069 M f.59,207
159,778
Jan. 1 to Mar. 3 1 . . . .
*140,112
*70,962
414,172
478,233
July 1 to Mar. 3 1 . . . .
Staten Island R ailw ay —
8,548
8,778 *d ef.6,035 *d f.17,495
Jan. 1 to Mar. 3 1 . . . .
*4,183 * d f.ll,8 4 1
25,755
25,373
July 1 to Mar. 3 1 . . . .
22,098 d e f.10,550 def.1 2 ,6 0 5
22,485
T o l. P eo. A W e s t...A p r .
1 2 ,5 5 4
3,389
228,353
225,326
July 1 to Apr. 3 0 . . . .
U lster A D ela w a re—
40,573 •def.6,588 *d f.l9 ,3 1 1
40,146
Jau. 1 to Mar. 3 1 . . . .
ln o o m e r e c e iv e d .

■ A fte r a llo w in g fo r

STREET RAILWAYS AND TRACTION COMPANIES
T h e f o l l o w i n g t a b l e s h o w s t h e gross e a r n i n g s f o r t h e la fc e it
p e r i o d o f all street r a i l w a y s f r o m w h l o h w e a r e a b l e t o o b ­
ta in w e e k ly or m o n t h ly r e tu r n s .
T h e a rra n g e m e n t o f th e
t a b l e is t h e s a m e a s t h a t f o r t h e s t e a m r o a d s — t h a t i s , t h e
fir s t t w o o o l u m n s o f f i g u r e s g i v e t h e g r o s s e a r n i n g s f o r t h e
la te s t w e e k or m o n t h , a n d t h e la s t t w o o o lu m n s t h e e a r n in g s
fo r t h e o a le n d a r y e a r f r o m J a n u a r y 1 t o a n d i n o lu d i n g su o b
la te s t w e e k or m o n t h .

S T R E E T R A IL W A Y S A N D T R A C T IO N C O M P A N IE S .
G ross

E a r n in g s .

A m erloan R ’ ys. Co 11.
Bingham ton R R ........
B urllngt’n (V t.) Trao.
C hicago A Mil. Eleo.
Oln. D ayton A T ol.T r.
Cln. Newp. A C oving.
L ight A T ra ctio n ...
Citizens’ R y .& Light,
City E leo.(B om e,G a.)
C leveland E ie c t n o ...
C lev e.A S o. W. lr.O o.
Cleve. Patnsv. A E .. .
Dart. A W’ port 8t Ry.
D etroit United R y ..u
EaBt. Ohio T ra ctio n ..

L atest Gross E a rn in g s

Jan. 1 to Latest Date
O urrent P revious
Tear.
Tear.

Week o r iTo

Our’ nt Prev’ ui
T ear.
Tear.

A pril.........
A p ril.........
A p r il.........
M arch.......
M arch.......

*
95,285
17,335
5,520
13,355
37,851

$
79,612
14,843
4,530
11,215
33,541

S
864,812
66.098
20,112
36,034
101,383

S
309,447
57,073
17,393
31,691
86,948

Maroh.......

94,830

86,238

275,304

250,447

7,171
6,113
Maroh.......
3,062
3,173
A p ril.........
A p ril......... 219,582 190,982
M arch....... 31,546 t2 2 ,0 7 )
M arch....... 14,359 13,600
8,342
8,87(
M aroh-----istw k May 72,276 70,484
4th w k A p r 14,982 12,157
,A p r il......... 15,321 12,324
A p ril......... 33.293 29,642
8,862
F e b r u a r y . 16,281*
113,370 102,452
A p r i l ____ 38,039 32.012
W k.M aylO 128,417 ! 24,951
9,668
A p r il.........

Harriehnrg T raction.
H avana Ele<\ R y. Co.
Indlanap. A E ^st. Rv.
Intern at’ l Traot. Co.
System (B u ffa lo )... M aroh.......
Jacksonville Elec.Co. ! Maroh.......
K n o x v ille T ra ctio n .. M arch.......
Lake sh ore Eieo. Ry M arch____
Lake Street E levated
Lehigh T raction .. .. !A p r il........
Lehigh Val. Trac. Co.
Street B y. D e p ....... [M a rch .....
E lectrlo L ight Dep. 1M arch.......
L exington R y ............. Maroh.......
L ondon St. R y .(C »n .) March.......
Mad. (Wls.) Traotion A p ril.........
Met. W est 81de Elev.. A pril.........
Mil. E lec. R y .A L l.O o M arch____
Mil. Lt. H eat A T r. Co M arch .......
Montreal Street Kv
M arch___
Musk. Tr. A Light. Co.
Street R y. D e p a r t.. M arch.......
E lectric L igh t Dep. M a r c h ___
Gas D e p a rtm e n t... 'la r c h .......
New L ondon St. R y .. Maroh.......
Nor. O h loT r. A Lt. Co A p r il__
N orthw estern E lo v .. A p ril.........
Oakland Trane. Cone A p ril.........
Olean St. R a ilw a y ... March.......
!M arch.......
Maroh.......
Affiliated C orpor’s. Maroh.......
Pneblo A Suburban
Traot. A Llght’ g Co. 1Maroh.......
Rye C o.G en.—R oads. A p ril.........
A p ril.........
R ochester R ailw ay . Maroh.......

18,524
21,840
12,655
12,448
739,792
835.428
t5 7 ,0 8 4
83,729
33,862
38,038
22,536
23,218
1,315,175 1,199,868
152,181
182,585
50,301
45,515
117,467
129,396
18,492
31,072
145.991
1185,291

125,297
1413,893

295,916 260,730
21,075 16,125
21,0*2 15,805
42,309 32,347
69,677 65,268
9,911
9,333

859,473
56.481
59,048
109.088

748,069
42,692
40,430
86,715

38,165

38,262

60,636 43,330
12,698 12,501
21,081 15,508
11,531 10,233
6,673
5,238
176,397 163,809
236,488 215,60?
27,392 23,001
171,902 156,87t

164,844
40,981
57,491
34.332
24,872
694.629
698,070
81,318
485,845

133,400
38,694
43,582
29,245
20,995
620,010
624,205
67,818
445,550

16,935
17,291
5,857
5,609
8,407
10,522
2,997
2,478
8,864
13,846
3.064
3,99)
11,545
11,239
4,049
3,995
190.558
236.75S
61,656 49,426
380,236
419,269
107,009 93,145
283,691
337,920
92,811 74,424
11,222
17,243
3.994
6,370
16,562
18,095
6,668
6,019
129,660 384,708 1,422,079 1,256,620
382,649 781,519 2,607,988 2,279,074
33.855
22,849
1,807
100 051

17,870
1,804
91.670

112,364
80,114
7,906
20H.959

60.231
7.250
263 9 *9

081
L atest d ross E arn in g*.

G ross

Ea r n in g s .

R o ck fo rd B eloit <fc
J a n esv ille................
4t. L ouie T ra n sit___
Sao Paulo (B razil)
Tram . L’ t A Po. Co.
S ooth Hide E levated
Sprlngtleld (111.) Con.
S yracuse Rap.TT. R y .
T ol. Bow l.G r. A 8o.T r.
Toledo Rys. A L igh t.
Toronto R a ilw a y ___
Twin C ity R ap. Tran.
Onion (N. B e d fo rd )..
Union T rac. o f I n d ..
United R R ’s o f San
F r a n o lso o ................
rr*ilt«<t T ra o.—(A lb.)
W ashington A lex . A
Mt. V. R y. C o...........

------------------ :----------------------------

Jan. 1 to Latest Oats
-------------------------- -—

Week o r Mo V u r’ nt Prev’ u t C u rren t
Year.
Year.
Tear.
$

i

»

P rev iou s
Tear.
S

9,783 ..........
26,048
M arch .___
A p r il......... 607,031 509,608 2,180,294 1,889.809
312,704
M arch....... 110,817
A p ril......... 131,329 121,513
525,922
479 ,7 9 7
49,834
M arch....... 17,386 13,320
40,278
186,703
Maroh....... 03,352 60,253
171,973
A p i ll......... 22,057 18,786
83,295
70,248
M arch------ 127,012 111,174
367,054
325,238
678.290
Wk. M ay 9 36,902 30 542
678,479
ith w k A pr 94,483 79,554 1,229,460 1,057,778
M arch....... 25.095 23,110
74,173
66,158
308,850
A p r il......... 83,311 73,570
276,662
M aroh....... 497,947 473,346 1,415,935 1,285,595
Maroh....... 129,136 114,974
876,911
844,919
F ebruary .

14,260

16,180

82.827

29,528

11These are results fo r p ro p e rtie s ow n ed.
u These earnings Include the D etroit U nited R y „ D etroit A P o r t
H uron Shore Line and the Sandw loh W indsor & A m h erstbu rg B y.
t Figures fo r 1902 o o v e r on ly the Clev. E lyria A W estern R y . Co.
t Spanish sliver.

Railway

Earnings.—

S tre e t
N et
T h e fo llo w in g ta b le g iv e s
t h e r e t u r n s o f Street r a i l w a y g r o s s a n d n e t e a r n i n g s r e o e i v e d
th is w e e k .
In r e p o r tin g th e se n e t e a r n in g s fo r th e str e e t
r a ilw a y s , w e a d o p t th e s a m e p la n a s t h a t fo r th e s te a m
road s— t h a t is , w e p r in t e a o h w e e k a ll th e r e tu r n s r e o e iv e d
th a t w e e k , b u t o n c e a m o n th (o n th e th ir d or th e fo u r th
S a tu r d a y ), w e b r in g to g e th e r a ll th e r o a d s fu r n is h in g r e ­
tu rn s, a n d th e la t e s t s t a t e m e n t o f t h is k in d w ill b e fo u n d
In t h e Chronicle o f A p r i l 1 8 . 1 9 0 3 , T h e n e x t w i l l a p p e a r
In t h e I s s u e o f M a y 2 3 , 1 9 0 3 .

— Cross E a rn in g s.—
C urren t
P reviou s
Tear.
Tear.
$
$
17,385
14,843
57,073
66,098
1 05,332
1 16,274
3,173
3,062
12,448
1 2,6 5 5
15,321
12,824
50,301
45,515
29,642
33,295
129,396
117,467
113,370
1 0 2,452
1,328,995 1,161,372
38,089
32,012
145,991
125,297
9,668
16,125
21,075
56,482
42,692
21 3 ,4 7 6

Roads.
B in gham ton R y .b ..A p r .
Jan. 1 to A pr 3 0 ___
Oot. 1 to Apr. 3 0 ___
01tyE leo( R om e,G a ) Apr.
Jan. 1 to Apr. 3 0 . . . .
East. Ohio T r a c t.a .A p r .
Jan. 1 to Apr. 3 0 ___
E lgin A u ro. A H o.b. Apr.
Jan. 1 to Apr. 3 0 . . . .
G eorgia R y. A E lec.M ar.
Apr. 1 t o Mar. 3 1 ___
H a rrlsb ’ g T r a c t.a ..A p r .
Jan. I to Apr. 3 0 ___
Ind’p ’Us A East. R y.A pr.
Ja ck son v. E lec. C o.M ar.
Jan. I to Mar. 3 l___
A pr. 1 to Mar. 3 L___
Jam estow n St. R y .—
24,133
Jan. 1 to Mar. 3 1 ___
42 ,3 0 9
Lake Shore E l.R y .a M a r.
Jan. 1 to Mar. 3 1 ___
109,088
L ehigh T r a o tio n — Apr.
9,911
38,165
Jan, 1 to Apr. 3 0 . . . .
6,673
M adison T r a c tio n ..A p r .
24,872
Jan. 1 to Apr. 3 0 ___
North. O h io T ra o . A L le h t
61 ,6 5 6
Co. a ......................... Apr.
2 36,753
Jan. 1 to A pr. 3 0 ___
O gdensburg St. R y .—
4,788
Jan. 1 to Mar. 3 1 ___
P u eblo A Suburban T r a c ­
tion A L igh t’ ? C o.M ar.
3 8,855
Jan. 1 to Mar. 31 . . .
112,364
Sao P aulo (B razil) T ram ­
110,817
w a y L ’ t A P o w.Oo.M ar.
Jan. 1 to Mar. 3 1 . . . .
3 1 2 ,7 0 4
T o le d o B o w lin g G reen
22,057
A South’ n T r a o t.. Apr.
Jan. 1 to Apr. 3 u ___
83,295
Un lted Tr. (A lb ’ y) b. —
Jan. 1 to Mar. 3 1 . . . .
376,911
J u ly 1 to Mar. 3 1 . . . . 1,160,408

X et E arn in g s.------,
C " rren t
P reviou s
Year.
Year.
$
$
7,156
5,002
24,052
18,138
44,745
41 ,5 4 0
111
d ef.5 7 3
695
583
6,092
5,2 6 2
13,082
15 ,3 5 3
13,104
10,642
49,012
44,928
46,418
44,621
648,606
485,095
12,558
12,461
43,040
47 ,1 7 6
4,831
6,873
5,088
16,633
11,154
68,042

21,575
32,347
86,715
9,333
38,262
5,238
20,995

12,910
10,450
19,826
'3 ,4 4 0
11,304
2,512
7,723

4,154
13,639
246
3,6 3 2

49,425
190,558

26,449
98,928

20,898
75,697

3,915

def. 1,485

838

2,399
7 ,2 8 0

7,849
18,117
77,815
217,483
1 8,736
70,248

8,636
29,397

6,7 9 3
29,2 1 5

3 44,909
1,092,137

124,041
39 3 ,3 1 7

87,135
335,951

b Net ea rn in g s h e re g iv e n a r e b e fo r e d e d u c tin g t a x e s .
Interest Charges and Surplus.—The follow ing Street
a N et earn in gs here g iv e n are a fter d ed u ctin g taxes,

railways, in addition to their gross and net earnings given in
the foregoing, also report oharges for interest, &o., with the
mrplus or defioit above or below those oharges,

.— Int., R entals, etc.— , r—Bal. o f Net E a rn ’gs.—,
C urren t
P reviou s
C urren t
P reviou s
Tear.
Tear.
Year.
Year.
Roads.
$
$
$
$
E lgin A u rora A S o.A p r.
8,333
4,7 7 1
2 ,3 0 9
8,333
Jan. 1 to Apr. 3 0 ___
33 ,3 3 3
33,333
15,679
11,595
In d ’ p ’lls A E a st.R y .A p r.
2,5 0 4
2,327
.............
J a cb son v . E lec. C o .—
Apr. 1 to Mar. 3 1 . . . .
38,875
29,167
Jam estow n St. R y .—
Jan. 1 to Mar. 3 1 . . . .
1,905
*5,293
8,198
*1,141
N orthern Ohio T ra otion
16,995
23,064
A L ight C o............ Apr.
3,385
3,903
86,339
6 3,079
12,589
Jan. 1 to Apr. 3 0 ___
12,618
O gden sbu rg St. R y .—
2,262
2,414 •*def.3,414 d ef.1,576
Jan. 1 to Mar. 3 1 . . . .
U nited T ra c. (A lb ’y )—
72,651
69,204
Jan. 1 to Mar. 3 1 . . . .
‘ 53,982
*20,358
2 15,920
192,219
July 1 to Mar. 3 1 . . . .
*209,793
*150,294
* In clu d es oth er lnoom e.

1082

THE CHRONICLE.
ANNUAL REPORTS.

Annual Reports.—The following is an index to

all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the I nvestors’ and Street R ailway Supplements.
This index does not include reports in to-day’s Chronicle,
R a il r o a d s , E tc. -

P age.

R

a i l r o a d s

, E

t c

1902.
Disbursem ents—
*
I In terest on b o n d s .,.. 3,125,382
R ental & m isoell’ous.
163,639

Am erican Can Co
......................... AtW Tamarack Alining ....................... 971
Am erican School F urniture.......... 10^8 Uulted G as Im provem en t,. .......... 1029
Central & So. Am er. Telegraph— 1028 United Shoe Machinery............... 971
Consolidated Rubber Tire............... 1028
St r e e t R a il w a y s —
Eastman Kodak (6 m on th s).......... 1029 Chicago City Railway.................. 478
General Electric Co................... 917, 924 Louisville Railway .......................... 477
Grand Trunk Ry. o f Canada.......... 910
Macon (Ga.) Railway & Light....... 750
Metrop. St. Ry. of N. Y. (report of
H unt. & Broad Top M ountain RR.
public accountants! .................. P7S
& C oal............................................... 916
Lake Erie & W estern ...
910 Metrop West Side El. ot Chicago. 8( 6
Lake Snore & Michigan S o ..............1026 North Jersey Street Ry................ 862
M exican Central.......... ................... 1"27 St. Louis Transit ................... .. 750
Mexican Telegraph ..........
970 Sao Paulo Tramway L. & Power.. 917
Michigan C en tra l.............................. 1027 United HR’s of San Francisco..... 917
New fo r k Chicago & St. Louis ...1027 United Rys. & Elec, of Baltimore. 702
Northern Securities (13)4 m o s .).. .1028 United Rys. of St. Louis (applica­
tion to list.).............
980
Nova Scotia Steel & C oal............... 970
Pennsylvania Steel Co. o f N. J — 917 United RRs. of San Francisco
(application to list)....................1036
Pere M arquette,..................... 1026, 1034
San Fran. Gas & E lectric,............... 970 Washington Ry. & Electric......... 703

9
2,583,593

1901.
2,757,322
179,954

R e su lt........................... su r.3,597
BALANCE

A ssets_

1899.

1900.

$

T o ta l........................ 3,289,021
2,937,276
Balanop......................... def.4 9 6 ,4 0 3 d ef.370,161
A a d su bsid y.................
5 00,000
370,161

Paae.

.—

[VOL. LXXVI
9

154,610

2,459,225
145,648

2.738,203
sur.6,093

2,604,873
sur.99,198
........................

sur. 6,093
31.
1900.

sur.99,198

SHEET DEC.

1902.

1901.

$

S

1899.

$

$

C onstruo’n & e q ’ p’ t . 164,612,748 158,099,979 147,494,356 143,297,050
E q’ t & O O lla t . tru st.
2,014 ,5 3 0 2 ,014,530
2,014,530
999,483
M aterials, fu e l, e to .
714,018
639,984
784,997
574,290
Bos. S. D. & Tr. Co.,
trustee sub. fu n d .
7 ,935,440 8,157,801
8,581,139
8,244,560
B onds held by M ex.
G o v ’m’ t, as guar’y.
136,821
122,593
121,798
121,798
Tam . H arb’r Co. b ’ ds.
1,991,285 2,018,960
2,046,635 1,702,538
Bills <fe aoo’ts r e o ’ble
780,429
970,999
794,416
914,849
Cash iu bank and on
hand...........................
1 ,609,489
1,479,887
1,454,1X2 1,606,277

Total a ssets....... 179,794,760 173,501,732 163,291,983 157,460,846
Liabilities—
S to ck ........................... 4 7 ,9 6 2 ,1 0 0 4 7 ,9 55,100 47.953.100 47,940,100
B onds (see SUPP’T ).1 1 6 ,3 7 4 ,3 5 3 106,481,052 102,373,712 96,476,212
Coupons & accru ed
liabilities................
1,596,249
1,461,694
1,403,718
1,324,560
7,908,704
1,594,000
1,895,000
I N otes........................... 2 ,215,000
A o co u n ts jp a y a b le ..
3,504 ,6 3 2
1,032.502
1,145,059
974,404
M ex. G o v ’ t subsidy.
8,011,146
8,263.506
8,686,844
8,350,265
T h e r e p o r t o f P r e s id e n t R e e d , t h e c o m p a n y ’ s in c o m e
E quipm ent fu n d ___
88,683
156,241
123,456
225.304
a c c o u n t, b a la n c e sh e e t a n d s to c k h o ld in g s , th e c o m b in e d
B onds called, e t o ...
9,0 0 0
ft.OuO
6,0 0 0
50,000
in c o m e a c c o u n t o f a ll th e o p e r a tin g c o m p a n ie s a n d th e r e p o r t
Incom e a c c o u n t___
3,597
180,932
6,092
225,000

Philadelphia Company of Pittsburgh.

( Report for the year ending March 31,1903J

o f P r e s id e n t C a lle r y o f th e P it t s b u r g h R a ilw a y s C o ., w i ll b e
f o u n d in f u l l o n p a g e s 1 0 9 0 a n d 1 0 9 1 .

Statistics.— E a r n i n g s ,

e x p e n s e s , e t c ,, w e r e a s f o llo w s :

1902-03.
Receipts—
$
F rom gas.....................3,769,163
F rom o i l ................... . 161,155
D i«. on stocks ow ned. 1,424,198
Prem . on bonds sold ...................
R e n t s ..........................
3,378
In t. & discou n ts, <Szo.. 120,108

1901-02.
$
3,188,121
115,073
773,448
3,626
60,690

1900-01.
$
2,586,450
64,989
317,753
10,625
3,527
57,728

1899-00.
$
2 ,0 0 3 ,6 5 0
79,551
3 1 0 ,9 4 9
9.875
3.698
41,961

T otal receip ts— 5,478,002
O perat’ns, ta x es, & o.l,7 5 8 ,1 7 2

4,146,958
1,357,559

3,041,072
1 ,090,860

2,529,683
1,294,736

N et earn in gs------3,719,830
D educt P aid leased oom p’ies
92,160
D iv id en d s.................... 1,990,181
In terest on b o n d s__ _ 863,283
O th er in t & m ie c e l..
26,462
Im p rovem en ts, e x ­
ten sion s, e tc ........... 572,227

2,789 ,3 9 9

1,950,212

1,234,947

281,870
1,136,703
4 51,729
34,446

226,082
936,763
2 09,890
31,591

219.764
6 /9 ,2 9 9
203,646
27,493

5 7 0 ,0 3 0

544,337

T o ta l......................3,544,313
B alan ce, su rp lu s— *175,577

2,478,378
3 11,020

1,948,669
1,543

1,130,199
1 04,748

* In 1902 oom pan y re ceiv ed In addition *105 ,6 2 5 prem ium on b o n d s
sold . *2 ,0 0 0 profits on rea lty sold and *6 9 8 ,1 8 4 ••deferred” d ividen d s
on C onsolidated Traotton p referred stock.
G E N E R A L B A L A N C E S H E E T M A R C H 31.
1903.
t

1902.
$

1903.

Liabilities—

Assets—
Pipe lines, trans. &
distribution........ 5,697,888 5,097,888
Gas wells................
477,120
477,126
Gas rights, leases
& rights o f w a y .. 6t3,777
043,777
Real estate.............
513,877
512,427
Meters and reg's...
989,265
900,S5i
Im p’ tsa n d b ett'm ’s 681,600
389,249
Tools.
materials,
supples, e t c ........
212.226
223,127
Stocks ow ned*.......41,671,978 39,394,916
Cash......................... 393,365
100,060
Bills receivable ... 73J.049
734,245
Accts. receivable.. 3,040,079
860,917
M iscella n eou s.......
67,151
76,182

1902.

t

t

Common stock ....... 28,953,029 26,059,097
Preferred stock __ 5,744,813 5,744,265
Funded debt .........17.812.850 15,881.100
Char. Valley Gas
C o..........................
2,353
111,028
Interest on bonds.
279,415
259,938
Dividend on pre­
ferred stock..
23,930
23,934
Accounts payable.
74,813
121,253
Commonwealth ;o f
41,419
05,264
Pennsylvania ...
Consumers’ advan.
98,093
76,123
M iscellaneou s.......
001
906
Profit and loss....... ,991,665 1,067,660

T o ta l................ 55,022,983 50,000.438
—V . 76, p. 1031, 480.

T ota l..

...55,022,983 60,000,408

Mexican Central Railway Co,

( Report for the year ending Dec. 31, 1902. J
E x t r a c t s fr o m th e t e x t o f th e r e p o rt w ill b e g iv e n n e x t
w eek.
T h e c o m p a r a t iv e s t a t is t ic s f o r s e v e r a l y e a r s , c o m p ile d in
th e u su a l fo r m lo r th e C h r o n ic l e , a re as fo llo w s :
E A R N IN G S A N D

EXPEN SES

(M E X IC A N

C U R R E N C Y ).

1902.
A ver, m iles op erated
2,621
E arn in gs f r o m —
*
P assen g ers.................. 3,854,995
F reig h t......................... 16,151,912
E xp ress, te:e. <fe mlso. 1,125,320

1901.
2,135
$
3,047,143
13,466,360
980,170

1900.
2,054
$
2,865,633
13,387,045
9 71,200

1899.
2.016
$
2 ,779,944
11,98 1 ,2 7 3
8 4 0 .8 4 8 i

T ota l e a r n in g s .. 21,132,227
E xpenses—
M aint. o f w a y , e t o . . . 2,800,329
Maint. o f equipm ent. 3,171,169
T r a n s p o r t s & traffio. 7,888,983
G e n e r a l...................... 1,310,150

17,493,673

17,223,878

16,602,065

2,047,418
2,586,275
0,773,483
1,099,834

2.165,988
2,257,696
6,483,270
943,241

2,013,576
1,833,375
5,764,311
791,708

T otal....................... 15,170,621
P.o. o f exps. to earns. (71-79)
N et earn. (M ex. our.). 5,961,606
N etoarn . (U. S. cu r.)*£2 ,5 l3 ,3 8 4

12,507,010
(71-49)
4,986,063
2,384,593

11,850,195
(68 80)
5,373,683
2,628,576

1 0 ,402,970
(66-88)
5,199,095
2 ,5 1 6 ,9 6 1

* T he average prioe re ceiv ed fo r M ex. dollars in U. 8. gold w as : In
1902, 42-16 c e n ts ; In 1901, 47 8 2 ce n ts ; In 1900, 48-92 c e n t s ; In
1899, 48-41 cen ts.
IN C O M E A C C O U N T (U . 8 . C U R R E N C Y ).

1902.
Receipts *
N et earn in gs.............. 2 ,513,384
M iscellan eou s.............
279,234

1901.
$
2,384,598
182,517

1900.
$
2,628,676
115,720

T ot. net in co m e .. 2,792,618

2,567,115

2,744,296

1899.
*
2,516,961
1 87,110

T otal lia b ilitie s .179,794,760 173,504,732 163,291,983 157,460,846
- V. 76, p. 1030, 705.

New York Chicago & St. Lonis Railroad.
CReport for the year ended Dec. 31, 1902. J.

T h e t e x t o f th e r e p o r t, w it h th e o p e r a tio n s , b a la n c e s h e e t,
e t c ., w e r e g iv e n la s t w e e k .
T h e in c o m e a c c o u n t is r e p e a te d
b e lo w t o c o r r e c t a c o n fu s io n o f th e fig u r e s fo r 1 9 0 0 w h ic h
o c c u r r e d in t h e e a r lie r s t a t e m e n t .

1902.
1901.
1900.
MU CP o p e r a te d
„.........................
513
513
513
O perations—
Passengers ca rried ...........................
620,767
662,250
577,784
Passengers carried 1 m ile............. 73,310,390 83,048,712 66,540,451
R ate per passenger per m ile........
1 ’66 ots.
1 57 Ots.
1-70 cts.
E arniugs per pass train m ile ___
*1-097
*1 173
*1-015
F retght (tons) o a r r ie d ....... .........
4.512,120
4,623,086
4,069,359
F reigh t (tons) oarried 1 m ile......... 1219576176 1339545971 1210172317
R ate per ton per m i le ....................
0 475 cts.
0-453 Ots.
0 478 Cts.
E arnings per freight train m ile ..
*1-538
*1-389
*1-335
E arnings per m ile ...........................
*13,649
$ (4 ,3 1 2
$13,428
E arn in g*—
$
*
$
P assen gers.........................................
1,216,911
1,304,105
1,130,092
F r e ig h t ............................................... 5,791,033
6,067.828
5,785,206
M ail, express, e t o ............................
130,955
118,550
108,061
T otal ea rn in g s...........................
E xpen ses—
M aintenance o f w a y and stru ot..
M aintenance o f e q u ip m e n t.........
C onducting tra n sp orta tion ...........
G en eral................................................
T a x e s ...................................................
R ent o f term in a l........................... .

7,138.899
$
6 54,260
591,113
3,320,597
114,216
250,073
103,994

7,485,483
$
646,008
682,076
3,458,075
105,593
225,962
93,912

|
,
f 4,966,961
j
230,486
96,231

T o ta l........................................ .
Per cen t o f expen ses to earnings .
N et ea rn in g s......................................
Other lnoom e.....................................

5,034.253
(70-52)
2,104,645
40,125

5,211.626
(6 9 6 2 )
2,273 858
32,291

5,293,678
(8 1 0 4 )
1,729,681
26,721

T o t a l............................................. 2,144,770
P aym ents In terest on bonds.............................
777.000
E quipm ent p a ym en ts.....................
185,649
D ivid en d on 1st p referred stook . (5)250,000
D ividen d on 2d p referred sto ck . (3)330,000

2,306,149

1,756,402

777,000
154,217
(5)250,000
(3)330,000

777,000
104,092
(5)250,000
(2)220,000

7,023,359
$

T o t a l............................................
Surplus................................................
A dd ition s and b e tte rm e n ts.........

1,542,649
602,121
5 85,000

1,511,217
794,927
756,000

1,351,092
405,310
398,587

B alan ce, surplus.......................
—V . 76, p. 1027, 208.

17,121

38,927

6,723

Associated Oil Co.

( Report for the year ended Dec. 31,1902. J
T h e r e p o r t s a y s in s u b s ta n c e :

O r g a n i z a t i o n —P r o p e r t i e s A c q u i r e d .— The com p an y w as in corp o­

rated on Oct. 7 ,1 9 0 1 , and entered a ctiv e ly in to the business o f p ro d u c­
ing and m ark etin g cru de fu e l oils on Jan. 1, 1902. on w hloh d ate it
acquired the o il lands and im provem ents and con traots fo r sale o f oil
o f the fo llo w in g situate in K ern R iv e r D istrict:
R eed Crude Oil Co.
Canfield Oil Oo.
G reen-W hlttier Oil Co.
K ern Oil Co.
San J oaqu in Oil & D ev elop m en t Oo.
It has siuoe said date aoqulred the p rop erties o f th e follow in g -n a m ed
oil com p an ies and firms:
KERN RIVER DISTRICT.
Aztec.
Bear Flag.
Senator.
Toitec.
Seonon Five.
Bolena.
Alva.
Sycamore.
Queen Esther,
Kansas City.
Vernon.
Cortez.
Moneta.
W olverine.
Red Bank.
Omar.
Central Point Con. Comet.
H anford-Fresno-K ern River.
Mt. Diablo Oil Mining & D evelopm ent Co.
MO K I T T R I C K

Clarence.
Richmond.
Chicago Crude.
Hecla.
Alissourl.
Bllnn.
J. A . Bunting.
W . Glllelen.

D IS T R IC T .

Shamrock Oil Co. Con
California Standard & Giant Oil CompaniesTuiare Oil & Alining Co.
standard Asphalt Lease.
D. B. Parker et al. and the Del ilou te Lease.
M ore than two-thirds o f the capital stock o f the Union Land A Oil Co. o f
Georgia, also situate in the McKlttricfc District.

The total area o f rich oil-p rod u oin g lands em braced In th e p rop erties
acquired from the fo re g o in g oom pantes a g grega tes o v e r 5,500 aores.
The com p a y has also acquired the B unting m achine shop in the Kern
R iv er D istrlot, tankage o f C hanslor & Oantteld alon g the Santa Fe
2 ,7 0 4 ,0 7 1 1 R R and the oapital stock o f the B akersfield Iron W orks at Bakersfield.

M ay

16, 1903.J

THE CHRONICLE

T he corp oration Is capitalized at $ 40,000,000, d iv id ed Into fo rty
m illion shares o f the par valu e o f on e d olla r eaoh
It paid fo r said lands and on e half o f the personal p rop erty and
Im provem ents acqu ired from the above-m en tion ed com pan ies $18,422,117 In Its capital stock at par, and fo r the rem aining h a lf o f the
appraised value o f the personal p roperty and Im provem ents $1,538,170
In Its first m ortgage 5 u. c. tw en ty-yea r gold b on ds. The rem ainder o f
the stooks and bonds Is In the treasury.
B u s in e s s , E t c —T he oom pan y sold and delivered d a tin g the year
1902 2,648,456 barrels o f oil, which netted, a fter deduotlug all trans­
portation oharges, $917,440. From this am ount It rebated to c o m ­
panies ow n in g oontraets at the tim e they tra n sferred their p rop erty
to It, $220,648, b tin g the ex cess realized ov e r and a b ov e 22»go. per
barrel for oil delivered on suoh con roots, le a v ln g n e tto the A ssociated
Oil Co. after payin g said rebates $ 5 9 6 ,7 9 7 , or an a verage sellin g price,
after deducting all transportation and tankage ch a rges, In exoess o f
22o. per barrel.
T he old oontraote turned o v e r to It b y the origin a l h olders o f p rop ­
erty on Jan. 1 ,1 9 0 1 , aggregated abou t 155,000 barrels per m onth.
Since then It has Increased Its busluess so that at the presen t tim e Its
average m on th ly deliveries are in excess o f 3 00,000 barrels. It has at
the sam e tim e rednoed Its general and op era tin g exp en ses b y c o n s o li­
dation o f properties to the e x te n t o f $ 72,000 p er annum .
D uring the year 1902 It exp en ded in cash m the pu rchase o f real
p rop erty, stock s and bonds o f oth er oom paules, tan k age and d istrib u t­
ing plants, rolling stock and Im provem ents, the sum o f $ 5 3 7 ,9 0 0 , and
has produ ced aud stored oil, ooat o f which was $62,818, o r a total oash
outlay fo r the year for p ro p e rty aud perm au en t Im provem ents and
stock o f $600,718.
The above statem ent show s, n otw ith stan d in g the n eoessarlly la rg e
expen ditu re due to the orga n iza tion and con solidation , the depressed
state o f the oil m arket, and the con seq u en t lo w prioe o f oil, a surplus for
the year am ounting to $247,924. The com pan y has during the past year,
lu order to secure busliu ss, been ob lig ed to com p ete w ith m any c o m ­
panies w ho have sold their p rod u ot at any where fro m ten cen ts to
fifteen oents per barrel.
T n e f o l l o w in g e t a t e m e n t s h o w s t b e b u s in e s s d a r i n g
c a le n d a r y e a r 1903 a n d th e b a la n c e s h e e t o f D e c . 8 1 :

th e

INCOME ACCOUNT CALENDAR YEAR 1902.

T otal In com e........................................................................................$678,612
O perating, etc., ex p en ses (see x b e lo w )..........................................$358,461
Unusual exp . attendant upon organ ization and con solid a tion . 72,227
B alance, surplus.................................................................................$ 2 4 7,924
x Includes: Production expense, 1152,663; administration expense, $40,S37;
sales expense, $12,180; general expense. Including rent, legal expense and
Interest, $39,3l»; taxes, $14,778; royalties, $15,096; oil purchases. $55,4x1; liqui­
dation reserve. $3.o00 ; car repairs, $'160 ; mining claim assessment work, *8?;
loss on barge dismantling, $841; freight paid on oil on hand ut tanks, $25,673.

BALANCE SHEET DEC. 31, 1902.
Assets—
$
Liabilities—
$
Stock in treasu ry...........21,577,683 C apital sto ck ....................4 0 ,0 0 0 ,0 0 0
B on d s In trea su ry......... 3,463,830 Bond Issue....................... 5 ,0 0 0 ,0 0 0
522,647
P rop erty & im p ’ m en ts.20,1 9 1 ,7 8 4 B ills p a y a b le ..................
B onds and stock in oth.
A ooounts p a y a b le .........
66,258
com p an ies ow n ed and
Due on co n tra ct se ttle ­
oontrolled by A. O. Co.
94,100
m ents, eto ...................
36,368
aT ankage and d istrib­
F reight lia b ility on de­
uting p la n t s ................
190,303
liv e re d s a le s................
10,949
Oil on hand in tanks at
Surplus..............................
247,926
c o s t.................................
82.818
Cash on h a n d ..................
32,155
A ccou n ts r e ce iv a b le ....
251,473
T o ta l........................... 4 5 ,8 8 4 ,1 4 7

a A t Antioch, Grass Valley, Fresno, lone. Jamestown, Point Richm ond,
Sacramento, San Jose, Stockton; Sun Francisco: Seventh and Berry sts.,
Main St.. North Beach, Seventeenth and Texas sts., Barge Antioch and Barge
Richmond.—Compare also V. 76, p. 814.

Chicago Edison Compauy.
fStatement for the year ending March 31, 1903.)
Earnings.—

T b e in c o m e a c co u n t m a k e s th e fo llo w in g s h o w ­
f o r th e y e a r s e lid in g M a r c h 3 1 :

1902-03.
1901 02.
1900 01.
1899-00.
Gross e a r n in g s ......... $ 3,40 9 ,5 7 6 $2,80 6 ,6 0 9 $ 2 ,5 1 7 ,2 1 9 $2,133,827
O perating exp en ses.. 2,195,647
1.720,820
1,614,260
1,321,437
N et ea rn in g s..........$1,21 3 ,9 2 9 $ 1 ,0 8 5 ,7 8 9
In terest..........................
3 00,990
300,983
D iv id en d s......................
5 93,346
5 15,982
B alance, surplus.

$319,593

$268,824

...
A r c . s . i n c i t e s r o ’ b le

15W.-II7
1V8.216

Cush.................
104,372
Other accounts.......
11.U80

107,577 B u n d s A d e b e n t u r e s
iox .637 A c c o u n t s p a y a b l e ..

157,750 Surplus account....
15,303 I

T o ta l.................. 10,763,908 0,303,065 1
—V. 76, p. 869, 50.

4.960.0"i) 4,000,000
888.124
4",28 7

481,941 263,728

T ota l.......................10,753,069 9.303 .905

Corn Products Company.

( Report for the fiscal year ending Feb. 23, 1902.)
T h e r e s u lts fo r t h e la t e fis c a l y e a r a n d th e b a la n c e s h e e t o f
F eb . 28, 1903, fo llo w :

INCOME ACCOUNT YEAR ENDING FEBRUARY 28TII, 1903.
T ota l receipts o f th e business fro m all souroes b efore
w ritin g o ff ex p e n se s..................................................................... $ 4 ,1 4 2 ,5 2 2
T ota l ex p en ses o f tbe bu sin ess....................................................
128,681

N et profit fo r y ea r............................................................................
D iv id en d s paid on p re ferred stock ( 5 4 p. o .) ........................

$ 4,013,841
1,426,006

B alan ce, s u r p lu s ........................................................................ $2,587,775
N o t e .—R egu lar d iv id en d s are being paid on tbe p referred sto ck at
the ra te o f 7 p. o. per annum and on tb e com m on stock at 4 p. o. per
annnin (V . 7b, p. 6 57.) On tb e am ou n t o f stock ou tstan d in g D ec. 31,
19o2, tbe annual oharge on aooou nt o f these dividends is $ 3 ,7 1 1 ,6 5 9 ,
viz.: $1,795,270 fo r o o m m o n and $1,916,389 for preferred .
GENERAL BALANCE SHEET FEBRUARY 28TH, 1903.
L iabilities—
Assets—
Cost o f secu rities____ $ 7 2 ,2 5 8 ,7 4 5 P referred s to o k ....... x $ 2 7 ,3 7 6 ,9 9 0
B ills re c e iv a b le ....... .
115,000 C om m on s to c k ............. x 4 4 ,8 8 1 ,7 5 5
739,736
Cash In b a n k s............... 3,212,511 Surplus balan ce 1902
Surplus profits ’02-’03 2,587,775
T o ta l....................... $75,5 8 6 ,2 5 6

GENERAL INVESTMENT NEWS.

Net to A ssociated Oil C o........................................................................ $596,797
Other earnings..........................................................................................
18,997
V alue o f oil on hand at ooBt.................................................................
62,818

ing

M aterial, e t c . . .

1002.
|
1003.
1002.
t
Liabilities—
t
I
8,014.500 Capital stock............ 6.000,000 5.000,000

x Authorized p referred stook, $30,0 0 0 ,0 00; oom m on s to ck , $50,000,0 0 O .-V . 76, p. 703, 656.

Net realization on 2,648,456 .................................. ..........$ 8 17,440
R ebates on oontraote to oiig in a l ow n ers o f sam e In
excees o f 2 2 4 oents p er bb l............................................. 220,613

45,884,147

BALANCE SHEET MARCH 31.
1003.
Assets—
I
Plants, etc.... 10,202,893

T o ta l....................... $75,5 8 6 ,2 5 6

T otal sales, 2,648,456 b b ls........................... $1,572,426
T ransportation expense...............................
754,985

T otal

1083

$902,959
279,791
477,688

$812,390
265,243
3 98,072

$ 1 4 5,480 ^ $149,075

RAILROADS. INCLUDING} STREET R0AD8.
Atchison Topeka & Santa Ry.—

Fe
S ee S a n F r a n c is c o &
N o r th w e s te r n R y . b e lo w .
T h e o f f i c i a ls d e n y t h e r e p o r t o f a n e w b o n d i s s u e .
— T h e R a n d s b n r g R R ,, e x te n d in g fr o m K r a m e r
to J o h a n n e s b u r g , C a l ., 2 8 m ile s , h a s b e e n p u r c h a s e d .— V . 7 0 ,
p . 751, 652.

Denied—
Purchase

Boston

& M a in e R R

.—Increase in Wages.—O n

J u ly 1 th e
tr a iD m e n re­
c e iv in g a n a d v a n c e to th e N e w Y o r k N e w H a v e n & H a r t fo r d
s c a le .— V . 7 0 , p . 3 8 1 .

p a y o f a ll t h e e m p lo y e e s w i l l b e in c r e a s e d , t h e

Canadian Northern Railway.—Sale of Lands.—

W e have
b e e n f a v o r e d b y f r i e n d s o f t h e company w i t h t h e f o l l o w i n g
s t a t e m e n t r e g a r d i n g t h e r e p o r t e d s a le of t h e c o m p a n y ’ s l a n d s
t o th e M a n ito b a & S a s k a tc h e w a n V a lle y L a n d C o .:

W e understand that the en tire land grant am ounts to 2 ,4 5 5 ,4 6 6
acres. O f this, abou t 3 0 3 ,0 0 0 aores are held fo r aooount o f th e M an i­
toba G overn m en t in con n ection w ith certain guaranties, and a b ou t
533,000 acres fo r aocou n t o f the D om in ion G ov ern m en t as s e cu rity
fo r a m all con tra ct subsidy. This w o u ld on ly leave at presen t avail­
able 1,500,000 acres, and w e are in clin ed to believe th at it is this
a crea ge that has been d isposed o f to Mr. D avid son o f D uluth and his
associates. W e h ave an ld e* that $3 an aore Is th e sale p rice and n o t
$ « . w hich w ou ld m ake the tota l sale p rice $1,5 9 0 ,0 0 0 and n ot $ 1 2 ,0 00,000 as rep orted In the St. Paul disp atch . W o th in k, m o reov er,
that v ery liberal arran gem en ts have been m ade b y the land com p a n y
w ith tb e ra ilw a y oom pan y In regard to term s, and that w h a t the
transaction rea lly am ounts to is the a p p oin tm en t o f Mr. D a v id s o n ’s
com p a n y as the selling agents o f th e railw ay oom p an y. w ith a m ini­
mum p rice o f $3 p e r aore as the sale prioe, and an agreem en t to p ay
ov e r to the railw ay oom p a n y all the p roceed s o f th e sale o f lan d s to
settlers o r oth ers until suoh tim e as the am ount due to the ra ilw a y
com p a n y b y the land oom pan y shall h ave been liq u id a ted .—V. 76, p.
751, 704.

Canton-New Philadelphia (Electric) Ry.—

(T h e )
T h is
c o m p a n y , w h ic h w a s in c o r p o r a te d in O h io in J u ly , 1 903 , b a s
r e c e n tly c o m p le te d a n d p a t in o p e r a tio n its 8 8 -m ile t r o lle y
lin e e x t e n d in g f r o m N a v a r r e , O h io , t o N e w P h ila d e lp h ia ,
O h io .
T h e r o a d is a n i n t e r u r b a n l i n e o f s t e e l r a i l w a y c o n ­
s t r u c t io n , b e in g la id w i t h 7 0 p o u n d j r a ils a n d w e ll b a lla s t e d .
T h e o o m p a n y is c o n t r o l l e d b y T u c k e r , A n t h o n y & C o . , o f
B o s t o n , w h o a ls o c o n t r o l t h e C a n t o n - A k r o n R y . [e e e p . 2 0
S treet R a il w a y Supplement ] . w i t h w h i c h c o n n e c t i o n i s
m a d e a t C a n t o n , O h io , a n d tn e T u s c a r a w a s T r a c t io n C o .,
w h ic h r u n s fr o m C a n a l D o v e r , v ia N e w P h ila d e lp h ia to
U h r ic h s v ille , O h io , 14 m ile s .
T u s c a r a w a s T r a c tio n C o.

BALANCK SHEET MARCH 31.
1903.
1902.
1903.
1902.
Assets—
$
$
Liabilities—
$
$
Plants, etc.......... ...14,230,840 12,766,540 Capital stock ........ 7,C89,oOO 6,809.900
W ork In progress,
Advanced p a j’ ts
T h e n e w c o m p a n y h a s o u t s t a n d i n g $ 3 0 0 ,0 0 0 c o m m o n s t o c k
e tc .........................
868,025
403,494
for stock................
997.357
.
Accounts- receiv­
Funded d eb t........ 6,508,"00 5.508.O0J a n d $ 3 0 0 ,0 0 0 0 p . c . c u m u l a t i v e p r e f e r r e d .
A m o rtg a g e h as
able, etc.............. 784,465 858,097 Accounts payable
123,859
140,336
Cash....... . .........
136.035
121,0c 3 Open a ccou n ts---52,565
112,551 b e e n m a d e t o t h e A m e r i c a n L o a n & T r u s t C o . o f B o s t o n , a s
Depreciat’n res’ve
690,000
50), 00 t r u s t e e , t o s e c u r e $ 1 ,0 0 0 ,0 0 0 o f 5 p . c . g o l d b o n d s , d a t e d F e b .
Insurance fu n d ...
68,000
0 0 ,00(1
Su rplu s.....................
610,081 431,077 2 , 1 9 0 3 , a n d d u e F e b . 1 , 1 9 3 3 , b u t s u b j e c t t o c a l l a s a n e n t i r e

below.

Total ...............15,539,365 13,652,064
- V . 75, p. 1304.

T ota l.................15,589,365 13,652,064

Commonwealth Electric Co. of Chicago.

( Report for

the year

ending

March 31,

1903.)

T h e a n n u a l s ta te m e n t is as fo llo w s :

„
1902-03.
1901-02.
Earnings from elec, cu r­
rent and m erch. sales.. ..$ 1 ,0 0 2 ,0 8 5 $ 7 6 9,666
Oper., repairs, renew als
and general expen ses . . .
623,264
4 97,903

100001.

1899-00.

$ 6 2 9 ,0 4 7

$517,131

410,170

3 39,169

Net Ino. from all souroes $378,821 $271,703 $218,871 $ 1 7 7 , 9 6 1
Deduct Interest on bonds.. 220,704 167,201 137,770 124,992
Balance............................... $158,117 $L04,502 $31,101 $ 5 2 , 9 6 9

See

issu e a t 105 a n d in te r e s t a t th e c o m p a n y ’s o p tio n .
I t is p r o ­
p o se d t o i s s u e a t p r e s e n t $ 5 8 5 ,0 0 0 o f t h e b o n d s a n d t o r e s e r v e
f o r f u t u r e a d d i t i o n s $ 4 1 5 ,0 0 0 .
P r e s id e n t, P h ilip S a lt o n s t a ll,
S e c re ta r y a u d T r e a s u r e r , C n a u n c e y E ld r id g e .

Chicago Burlington <fe Quincy IIR.—Extension of Bonds.
—J. P.

M o r g a n & C o . o f f e r t o t h e h o l d e r s o f t h e $ 3 1 ,6 9 9 ,0 0 0
o f 7 p. c . m o r tg a g e b o n d s fa llin g d n e J n ly 1, 1 9 0 3 , th e o p p o r­
tu n ity a t a n y tim e u n til J a n e 10, 1903, to e x te n d e a c h b o n d s
u n til J u ly 1, 1905. w ith in t e n s e a t th e r a te o f 4 p e r c e n t p e r
a n n u m , p a y a b le J u ly 1 a n d J a n . 1.
H o ld e r s o f th e b o n d s d e s ir in g s u c h e x te n s io n s h o u ld d e ­
p o s it th e s a m e o n o r b e fo r e J u n e 10 w it h J . P . M o r g a n & C o .,
N o . 23 W a l l S t ., N e w Y o r k , o r w ith K id d e r , P e a b o d y &
C o . , N o . 1 1 5 D e v o n s h i r e S t . , B o s t o n , M a s s ., in o r d e r t h a t t h e
e x te n s io n a g r e e m e n t a n d c o u p o n s fo r th e s e m i-a n n u a l in te r -

1084

THE CHRONICLE,

est to accrue thereunder m ay be attached thereto. Every
holder o f such bonds at the tim e of the deposit th ereof for
extension w ill receive a cash paym ent equal to one half o f
one per cen t upon the par o f the bonds so extended, and
m ay at the same tim e present the coupons fo r interest due
J u ly 1, 1903, and receive paym ent therefor in cash w ith ou t
rebate upon surrender thereof. A ll bonds not so extended
w ill be purchased by the firm at par and accrued interest on
J u ly 1, 1903. See advertisement.
Listed,.—The New Y ork Stock E xchange has listed $3,904,000 additional Illinois D ivision m ortgage 3J^ per cen t bonds
o f 1949, m aking the total listed to date $41,000,000. This a d ­
ditional issue o f $3,904,000 has been used fo r the fo llo w in g
purposes.
To acquire $1,591,000 of the $1,750,000 oapital stock of
the Quincy RR. Bridge C o .......................................................$3,182,000
Sold for construction purposes and paid fo r ............................
722,000
—V. 76, p. 971, 653.

C hicago & E astern I llin o is R R .—Listed.— The N ew Y ork
S tock E xchange has listed $377,000 additional general co n so l­
idated and first m ortgage 5 per cen t bonds o f 1937, m aking
the total listed to date $14,020,000. The additional bonds
have been issued for the fo llo w in g purposes:

[V ol.

l x x v i.

The securities o f the operating com panies are:
Co l u m b u s R v .

P a r.

Stock, com. ($3,600,000).................$100
D o p re f. 5 p. c . c u m ................. 100
B on d s (see page 28 St . R y . S u p .). ..
C o l u m b u s E d i s o n (V . 71, p.

0S2,1357)—
Stock, com m on.............................. 100
Do., preferred. 0 p .c . cum ... . 100
Guaranteed bonds—
C ol. E le ctric Co. 1st M . g ...................
GUI. XUU13UU Jlil. V_,U. 1st 1U., g ....................

col.

G. L . & H e a t i n g C o . (V .
74. p. 032)—

Stock, common ...............................100
Preferred. 6 p. c n on -cu m ........... 100
Col, Gas Co. 1st M „ g .....................

I n te r e s t .

Q-F

O u ts ta n d ’g.

$3,000,000
3.500.000
5.042.000

6, J.J

450.000
650.000

0, M-N
6 g., A-0

450.000
300.000

Var.
0, J-D
6 g.. J-J

1.700.000
3,000,000
1.500.000

D iv id e n d s , See.

None
6 p. c. In 1902
Various

4 p. c In 1902
6 p. c. In 1902
1922
1919
7 p. c. in 19D2
6 p. c. In 1902
1932

The Philadelphia Banking House o f E. W . Clark & C o. is
financing the am algam ation and several men identified w ith
the old com panies are interested in the new c o r p oration,
am ong them being, it is stated, R . E. Sheldon, E. K . Stew ­
art and E m il K iesew etter.
C um berlan d (M d .) E le c tr ic
R y .— B onds.— P resident
George L. W ellin gton o f Cum berland, replying to onr in ­
quiry, says:

Of the $150,000 bonds recently issued by our company, $75,000
were used to take up bonds of a previous issue and $75,000 to pay for
new track and extension of road. The bonds, except $10,000 to re­
main in the treasury, have all been taken care of by the Citizens’ Na­
Additional railroad: Rossville & Eastern Branch, 10 96 miles, at tional Bank of this plaee and the German Savings Bank. They
$18,000 per mile, $197,000; additional doub le traok: Danville Junction, are redeemable in ten years and payable twenty years afterdate.
111., to Qessie, Ind., and Cayuga, Ind., to Newport, Ind., 13-07 miles at The bonds will not be offered to the pnblio.
$8,000 per mile, $104,000; additional equipment, $76,000.

T he outstanding bonds ($14,020,000) w ere issued as fo llo w s:
retirem ent o f prior lien bonds, $1,992,000; con stru ction o f
additional railroad, $7,214,000; con stru ction o f dou ble track,
$951,000: purchase o f additional equipm ent, $3,883,000.— Y.76,
p. 265, 101.
C hicago R o ck Isla n d & P a c ific R R .—New Bonds to P u r ­
chase Control o f 'F risco.—On M onday the purchase o f St.
L ouis & San F rancisco R ailroad com m on stock on the term s
below mentioned was approved, and the issue o f $18,500,000
5 per cent gold bonds o f 1913 was authorized to pay fo r the
purchase. The stockholders also voted to increase the capi­
tal stock o f their com pany $20,000,000, m aking a total ca p i­
talization o f $145,000,000, and the increase was turned into
the treasury o f th9 R ook Island Co. o f N ew Jersey in return
fo r an equal am ount o f the latter com pany’ s stock.
C ontrol o f Southern Pacific Texas Lines.— See H ouston &
Texas Central R y. b elow .— V . 76, p. 1029, 751.
C h icago U nion T ra ctio n Co.— Guaranteed D ividend to he
P a id .— Judge Q rosscup at C hicago on T hursday ordered the
receivers to borrow funds at not exceedin g 6 p. c. interest
fo r the paym ent of the guaranteed dividend on W est C hicago
Street R R . stock and also the interest on the floating debts
o f the W est and North C hicago com panies. T h e am ount re ­
quired is $374,985.
The statement to the Court attributes the com pan y’s em ­
barrassm ent to unfair taxation, the diversion o f traffic to the
exten t o f m ore than $700,000 a year to the N orthw estern
Elevated R R ., an increase o f $353,000 a year in wages, and
the transfer litigation, w h ich has increased the num ber o f
transfers issued to a total representing $100,000 a m onth.
P rotective Com m ittee.— On M onday the shareholders o f the
W est C hicago Street R R . Co. ratified the appointm ent o f the
fo llo w in g protective com m ittee, five o f w hom are friendly
to the C hicago U nion T raction C o.:
F. H. Rawson, Wallace Heckman, E. L. Brewster, W. H. Gray, C. R.
Corwith, Benjamin B. Lamb, James Bolton.

G u aran ty Fund, E tc.—The “ C hicago E conom ist” o f M ay 9
gives at length the tripartite agreem ent o f June 1, 1889, un­
der w h ich a guaranty fund o f $10,000,000 was established as
secu rity for all the leases o f the C hicago U nion T raction Co.
On accou nt o f this fund $3,200,000 stock o f the W est C hicago
and $2,000,000 stock o f the N orth C hicago street railroads
are deposited w ith the Illinois Trust & Savings Bank. The
agreem ent provides in part:
After and so long as any such default or defaults shall ooour or con­
tinue [In the payment of rental], the income derived from said deposit
and so much of the principal thereof as Bhall be required for that pur­
pose, shall be appropriated and applied from time to time for the equal
and ratable payments and discharge of the payments and obligations
assumed or agreed to be paid by the said traotion oompany In and by
the said leases respectively.
* * * “ upon the expiration or termination by lapse of time or other­
wise of all the leases the covenants whereof shall be seoured by said
deposit, the said deposit shall be turned over and delivered to said
Traotion oompany, free and in discharge of all trusts.”

D elaw are & H udson C o.— New Officers.— As expected,
President Olyphant resigned at the annual m eeting on Tues­
day and E. H. H arrim an was elected a m em ber o f the
board o f m anagers. A m otion that the stockholders express
their heartfelt thanks to the retiring President fo r his lon gcontinued and valuable services was carried unanim ously.
V ice-President W illc o x in an in form al address estimated
that the com pany has paid to its stockholders in dividends,
since its organization in 1823, som ething like $70,000,000, and
to its employees in wages, rou ghly, not less than $200,000,000.
On W ednesday Mr. W illc o x was elected P resident.—V . 76,
p. 1029, 538.
D u n k irk & F re d o n ia (E le c t r ic ) R R .— New S tock.— The
New Y ork State R ailroad Com m ission has authorized an in ­
crease o f capital stock fro m $150,000 to $200,000 to provide
fo r new con stru ction .— V . 75, p. 1147.
E rie U R .— Quarterly.— E irn in g s for the quarter and the
nine m onths ending M arch 31 w ere:
3 mos.tnd. Gross
Net
Other Interest
Balance
Mar. 31 earnings, earnings.
incotnc. taxes, etc.
sur or def.
1903...... $9,977,223 $3,237,037 $33,140 $2,691,206 S?«r.$628,971
1902...... 8,475,344
2,337,996
57,292
2,627,339
dsf.232,051
0 77X08

1902 03.-30,068,333
190102..27.986,168
- V . 76, p. 704, 541.

10,278,423 274,479
9,063,036 117,576

7,904,405 8Mr.2,64S,497
7,843,635 sur.1,336,977

F o r t S m ith L i g h t & T r a c tio n C o .— New C om p a n y.— This
com pany was in corporated at L ittle R o ck , A rk ., on A p ril 13,
w ith $300,000 stock, all subscribed for, “ to operate an interurban electric street railw ay system and a toll brid ge over
the Arkansas R iv er near Van B uren.” The inoorporators are:

W. O. Lemert (President), George T. Sparks (Vice-President), R ob­
ert G. Hunt (Secretary and Treasurer), H. O, Meohen, George Sengel
and W. N. Ayres.

Mr. Lem ert, w ho resides at B ncyrus, Ohio, is President o f
the F ort Smith & Van Buren L ig h t & Transit C o., operating
a 4-mile trolley line from the centre o f F ort Sm ith to Park.
Capital stock, $300,000; bonds, $300,000 gold 5 per cents, due
N ov. 15, 1920. St. L ouis Trust C o., trustee. The Transit
Com pany recently contracted to purchase the F ort Smith
T raction, L igh t & P ow er Co. [see S t r e e t R a i l w a y S u p p l e ­
m e n t , p. 38], and the new oom pany is no dou bt organized in
con nection w ith this transaction.
G reat N orth ern R y .—S trike Settlem ent.— The danger o f a
strike, w hich at one tim e appeared quite threatening, was
rem oved on Thursday b y an am icable agreem ent w ith the
trainm en, each side m aking concessions.— V. 76, p. 330,101.
H a m ilton (»>nt.) C a ta ra ct P o w e r , L i g h t & T r a c tio n C o .,
L td . —Sale o j B ond s.—The sale is announced o f an issue o f
$600,000 first and refunding m ortgage 5 per cent gold bonds
to N. W . H arris & Co., Chicago. See particulars in V . 76,
p. 813, and V . 69, p. 1014.
H a r tfo r d & C o n n e cticu t W estern R R .— E xten sion o f
R on d s.—The com pany is offerin g to extend at 4% P- o- interest
the $500,000 o f 5 p. c. bonds due Ju ly 1.—V . 64, p. 423.
H ou ston East & W est T ex a s R y .—See H ouston & Texas
Central R R . b elow .— V . 71, p. 236.
H ou ston & T exas C entral R R .— C ontrol by R ock Island.—
A t A ustin, T e x ., on May 14, R obert M ather o f C hicago, 2d
V ice-P resident and General Counsel o f the C hicago R ock
Island & Pacific, subm itted for the approval o f the State
R ailroad Com m ission copies o f contracts that have been
entered into for the operation by the R ock island o f its trains
over the follow in g lines, at the same tim e stating that his
com pany has purchased one h a lf o f the stock o f the three
com panies first named and w ill elect the P resident o f each,
v iz .:

A n im portant fa ctor in the situation is the C hicago Con­
solidated T raction C o., whose $15,000,000 stock was pu r­
chased chiefly w ith its ow n bonds, am ounting to $6,750,000,
guaranteed by the C hicago U nion T raction Co. These bonds
are supposed to be practically all ow ned by Charles T.
Y erk es.—V . 76, p. 1029, 918.
C olu m bu s ( 0 . ) R y.— See Colum bus R ailw ay & L igh t Co.
b e lo w .— V. 76, p. 971, 157.
C olu m bu s (O .) R y. & L ig h t Co.—In corp ora ted .— This c o m ­
pany tiled articles o f incorporation in Ouio on M ay 12, w ith
$5,000,000 o f authorized capital stock, w ith a v ie w 'to taking
over the street railw ay and lightin g plants o f C olum bus, O.
The “ Ohio State Jou rnal” o f May 13 states that the p ro p o ­
one -half stock purchased and trackage gu aranteed .
sition is to lease the plants o f the Colum bus R y. Co. and the
Houston & Texas Central Ry. Co.
Colum bus Edison Co. on a basis o f guaranteed dividends on
Houston East & West Texas Ry. Co.
Dallas-Sablne line o l the Texas & New Orleans Ry. Co.
their com m on stock o f 3 p. c. the first year, 4 p. c. the sec­
T R A C K A G E A G R E E M E N T S.
on d year and 5 p. c. the rem aining years; also, to g iv e the
Galveston Houston & Northern Ry. Co . permitting the Houston &
com m on stockholders o f the old |companies the opportunity
to subscribe to the stock o f the new com pany at $20 per Texas Central to run Its trains between Houston & Galveston, making
a through line between Dallas and Fort Worth and Galveston.
share. Sim ilar propositions, it is stated, w ill also shortly be
Texas <& New Orleans Ry. Co., between Houston & Beaumont “ to
m ade to the Colum bus Gas L igh t & H eating Co.
run the empty oars.”

Ma y 16, 1903.]

THE CHRONICLE.

8honld tbe R ock Island fail to elect the President o f the
three lines first nam ed, or if he is rem oved, or the boards o f
directors seek to im pede the R ock Island traffic, tne track­
age agreements w ith those lines w ould g o in to effect. It is
provided that the R ock Island shall nam e three m em bers o f
each o f the three boards and the Southern P acific three
members, the other three to bo disinterested parties.
The sale o f the San A n ton io & Aransas Pass R y. (V. 76, p.
973), we are inform ed, has not been consum m ated and is not
likely to be.— V. 76, p. 331.
In d ia n a p olis T ra ctio n & T e rm in a l Co. —B o n is Offered.—
Ervin & Co. o f Philadelphia are offering at 101 and interest
$3,000,000 5 per cent $1,000 first m ortgage sinking fu n d gold
bonds, dated Jan. 1, 1903, due Jan. 1, 1933; interest payable
A pril and O ctober, at Guarantee Trust & Deposit Co., P h ila ­
delphia. trustee. A uthorized issue, $5,000,000; to be issued
during 1903 and 1904. $3,000,000; reserved for extensions and
betterments, $3,000,000. A circular says:
The oompany was organized to lease the Indianapolis 8treet Ry. Co.
and for the purpose of oonsrruotlng a Union Terminal In the business
center of Indianapolis and laying additional trackage on streets for
which franchises have been obtained. The bonds will be a first lien on
the lease of the Indianapolis Street Ry. recently exeouted fora period
of 31 years, on a union terminal station In whloh passengers will be
received and discharged, and on other buildings and various new lines
to be laid within the olty limits, together with all other property here
after acquired. The Indianapolis Street Ky. Go. has made oontraots
with the seven lnterurban railways now entering Indianapolis by
whloh It receives three cents per passenger for all passengers taken on
the oars In the City of Indianapolis or carried ont of or Into the town
limits. The Indianapolis Traotlon & Termtnal Go. also has a contract
with above mentioned lnternrban roads by whloh said companies
shall pay one cent per passenger terminal oharge.
There is a sinking fund provision in the mortgage whloh will require
nntll their maturity an annual contribution eqnal to 1 ’ 2 por cent of
the par value of all outstanding bonds. Including those already In the
sinking fund. At onr request John Heins
Co. have examined the
books of the Indianapolis Street Ry. Co. Their report shows the net
earnings for 1902, after paying all taxes and fixed charges, to be
$286,218. The gross earnings for 1901 Increased 14 per oent over
those of 1900 and gross earnings for 1902 Increased 15 per oent over
those for 1901.—V. 76, p. 101, 48.
L o u is ia n a R a ilw a y & N a v ig a tio n C o.— Successor Com­
p a n y .—This com pany was in corporated in Louisiana on May
9 w ith $12,000,000 o f authorized capital stock in $103 shares
as sucoessor o f the Shreveport & Red R iver V alley R y. The
last-named com pany had in operation a line from Shreveport,
La., southeasterly to Mansura, L a., 153 miles, and was bu ild­
ing in the direction o f Baton R ouge w ith a view to reach ­
ing N ew Orleans. The new com pany is em pow ered to com ­
plete and operate the road from Shreveport to N ew Orleans,
also to extend the same southerly to the G u lf o f M exico and
northerly to and along the western border o f the State. The
right is also given to ow n and operate a line o f steamers in
the foreign trade. W illia m Edenborn, 71 B roadw ay, is
President o f the new, as he was o f the old , com pany. A p ­
plication has been made fo r term inal facilities at N ew O r­
leans. See Shreveport B ridge & T erm inal Co. in V . 76,
p. 266.
L o u is v ille S u b n r b a u R y . — Bonds O ffered.—The U nited
States A rm or V ault & T rust C o., the First National Bank
and the Third N ational Bank o f Louisville, A . L. R ich o f
Cincinnati and W . J. Hayes & Co. o f C leveland and B oston
are receiving subscriptions at 95, w ith a stock bonus o f 50
per cent, fo r the present issue o f $400,000 (authorized issue,
$5CO.OOO,) first m ortgage 5 per cent gold bonds, dated July 1,
1903; due July 1, 1923, but su b ject to call after Ju ly 1, 1908,
at 110 and interest. U nited States Trust Co. o f Louisville,
trustee. C ontracts have been let fo r the construction o f
the line from L ouisville to Mt. W a sh in gton , 17-3 miles. A
favorable con tract has been entered in to by w h ich the tracks
o f the L ouisville R y . Co. w ill be used fro m D ou p ’s P oin t to
the centre o f L ouisville, 6 miles. The capital stock is $500,000. D irectors :

Charles J. Doherty (President), Samuel Castleman, (Vloe-President),
P. N. Clarke (Secretary and Treasurer), John C. RusseU, John J. MoHenry, C. C. MoOiarty, Charles E. Claggett, L. H. McHenry and A. L.
Rich.
M e tr o p o lita n S e c u r itie s C o., N ew Y o r k . — Instalm ent
Called,— See advertisement on page x i.— V . 76, p. 1080.
M e tr o p o lita n S tr e e t R y ., K a n sa s C ity, M o .— Consolida­
tion.— W e are authoritatively inform ed that the M etropoli­
tan Street R y. Co. and tbe Kansas C ity E lectric L igh t Co.
are to be consolidated in to a new com pany to be know n as
the Kansas C ity R y. & L ig h t Co., w ith a capital understood
to be $10,000,000, each o f 5 p c. preferred and com m on stock.
The stockholders o f the M etropolitan oom pany are to receive
fo r each 100 shares o f their stock 100 shares o f the preferred
stock and 60 shares of com m on stock in the new oom pany.
The stockholders o f the Kansas C ity E lectric L ig h t Co. re­
ceive for each 100 shares 80 shares o f preferred and 100
shares o f com m on stock in the new com pany, w h ich, it is
understood, w ill be a N ew Jersey corporation.
Blair & Co. and K uhn, L oeb & Co. are at the head o f a
new syndicate w hich have underw ritten the new securities,
including a large block of new bonds.
The securities oi the M etropolitan Street Ry. are show n in
the Street R a ilw a y Supplement , page 46 The Kansas
City E lectric L ig h t Co. was form ed b y consolidation in 1900
(See VT. 70, p. S44, 178,) and has an authorized capitalization
o f $2,500,000 stock and $1,000,000 bonds ; outstanding at last
accounts, $2,100,000 stock in $100 shares and $750,000 o f first
m ortgage 5s, due M ay 1, 1915.— V. 76, p. 864.
M ic h ig a n C e n tr a l R R . — New D irector,—J. P, M organ w as
last w eek elected a director to succeed F. S. W in ston o f
Chicago.—V. 76, p. 1027, 919.

1085

N ash ville Ky.— Successor.— 8ee Nashville R ailw ay & L ig h t
Co. b elow .— V . 76, p, 1030.
N ash ville Ry. Sc L ig h t Co.—New S ecurities. — To ca rry ou t
the plan o f reorganization o f the N ashville R v. S4 000,0 00 in
cash has been raised from the sale o f the follow in g s e c u r i­
ties o f the above-nam ed successor com pany:
First consolidated 50-yoar 5 per oent bonds..........................$2,423,000
Preferred stook............................................................................... 1.995,000
Common stook.............................................................
3,500,0

T he authorized issue o f bonds is $6,000,009 fifty-year 5 per
cents, interest periods January and J u ly ; G uaranty T rust
C o., trustee. Tne securities sold as above are for the pur­
pose o f acquiring the property and for extensions and im ­
provem ents. T here are reserved $2,577,000 bonds fo r prior
liens and the rem aining $1,000,000, it is said, m ay never be
issued.
It is expected that the p rop erty w ill be sold under fo re ­
closure some tim e n ext m onth, and that the new securities
w ill be issued in J u ly or A ugust. The managers o f the r e ­
organization syndicate are L adenbnrg, Tbalm ann & C o.,
New Y o rk ; Isidor N ew m an & Sons. New Orleans, and John
L. W illiam s & Sons, R ich m o n d .— V. 76, p. 1030.
New P a ltz & P ou g h k eep sie (N . Y .) T r a c tio n Co.— Sale
June £7.— The foreclosure sale is advertised for June 27 at
N ew P altz; upset price, $20,000.— V . 75, p. 1400.
New Y ork C en tra l & H u dson R iv e r R R .— T erm inal Im ­
p rovem en t.—Grow. Odell having signed the enabling A c t , the
com pany expects sh ortly to begin the depression o f the yards
along L exington A r e . from 45th to 56th streets. It w ill then
take up the electrification o f the term inal lines. C om p a re
V. 76, p. 331, 266; Y . 76, p. 865, 705.
New Y ork C h icago & St. L o u is R y.—D ir e c to r s — J. P .
M organ and J. H. S choonm aker w ere last w eek elected di­
rectors to succeed Samuel E. W illiam son , deceased, and
Charles M. R eed.
E arnings.—See page 1082.— V . 76, p. 1027.
New Y ork O n ta rio Sc W estern R y — Q u a rterly.— E arnings
for the quarter and the nine m onths en din g M arch 31 w e re :
Z'mos.end.Mar.3\. Gross earn. y e t earn. Oth.inc. Int.,tax.etc. Bal.,sur.
1903 ...................$1,665,215 $477,882 $103,658 $324,223 $257,312
1902.................... 1,262,781 242,473
51.86-i 241.080
53.957
9 mos.
1902-03................ 4,357,911 1,192,457 300,587 977,978 515,066
1901-02................ 4,355,005 1,287,629 175,485 775,545 687,669
—V. 76. p. 382, 213.

New Y ork Sc O ttaw a R R .—Sale P ostponed.— The fo re clo s ­
ure sale has been adjou rn ed to N ov. 18.— V . 75, p. 794,
P e o r ia & S p r in g fie ld R y .- D e a t h o f P ro je c to r.— D w ig h t
L . W in g o f P eoria, 111., died recen tly at H elena, M on t.— V .
78, p. 1857.
R ed R iv e r T exa s Sc S o u th e rn R y .— M ortgage. — T h is
com pany has filed a m ortga ge to the Standard T rust Co. o f
N ew Y ork , as trustee, on the new line fro m Texas State L ine
to F ort W orth , to secure $850,000 bonds, all o f w h ich have
been pledged as part secu rity for tb e ’ F risco’ s refu n din g loan
o f 1901.—See V . 76, p. 920.
R o ck Isla n d C o.— P urchase—New S tock.— See C h ica g o
R o ck Island & P acific R R , above and St. L ouis & San F ran ­
cisco R R . b e lo w .— V . 76, p. 1031, 480.
R om e C ity (N .Y .) S tre e t R y .—S ale.—See U tica & M oh aw k
Valley R y. b e lo w .— V. 68, p. 674.
St. L ou is Ir o n M ou n tain & S o u th e rn R y .— New M ortga ge.
—The “ R iver & G n lf Divisions First M ortgage” recently filed
w ith the M ercantile T rust Co. o f thi s city and W illia m K .
B ixb y o f St. L ouis, as trustees, provides for the issue o f not
exceeding $50,030,000 first m ortgage 4 p. c. g old bon ds d a ted
M ay 1, 1903, and due M ay 1,1933, interest payable May 1 and
Nov. 1. The m ortgage covers the fo llo w in g lines, m ore fn lly
described in the C h ronicle o f M arch 7, 1903, page 543 (see
also V . 76, p 600), v iz .:
White River Ry., 248 miles; 8t. Louis Valley Ry., 145, and two
branches aggregating 7 miles; Memphis Helena & Louisiana, 274
miles; bonds of the $1,000,000 Issue of the Union Ry. of Memphis
when outstanding ($148,000 at date); also $1,000,000 first m ortgage
5 p. o. bonds of the Western Coal & Mining Co. of Missouri, said
bonds being dated May 1,1903, and due May 1 , 1933.

The new bonds are issuable as fo llo w s:
1. For acquisition of first mortgage bonds o f Union Ry.
of Memphis ($ for $) when issued [$148,000 now ac­
quired]. .................... ............................................... .......... $1,000,000
2. Issuable forthwith representing the property of the for­
mer St. Louts Val. Ry. including ferry and terminals. 7,200,000
3. For the acquisition, completion and extension of the
roads formerly belonging to the White River Ry. aud
tbe Memphis Helena A Louisiana Ry. and Memphis
Helena <te Louisiana RR. cos. at not exoeedlng $30,000 per mile of main line.................. ............................ 15,700,000
4. To double track the former St. Louis Valley Ry. at not
exceeding $15,000 per mile..............................................
2,175,000
5. For additional terminal aud ferry facilities at St. Louis,
Mo., and East St. Louis and Thebes, III., under strin­
gent provisions..................................................................... 2,500,000
6. Reserved to be applied (with any bonds above mentioned
under “ 4” and “ 5” not used as aforesaid) for the ex ­
tension, development and equipment of the railroad
4,500,000
sjstrm subject to the lien of this mortgage...................
7. Reserved to construct <'r acquire (a) a line oonnectlDg
the former St. Louis Valley Ky. with the former Mem­
phis Helena <fe Louisiana Ky., and (6) a line from West
Memphis. Ark., to Batestilie, Ark..................................
5,675,000
8. Reserved with unapplied bonds under "7 ” to oonstruot
or acquire and equip extensions or braucbes at not
exceeding $3 j.000 per mileor oompleted mainline and
#15,000 per mile of oompleted branoh line................... 11,250,000

The com pany has contracted to sell $20,000,000 o f the bon d s
during the current calendar year, o f w hich $10,000,000 to
Verm ilye & Co. The new lines referred to wilt c o m p le te

1086

THE

CHRONICLE

n ew short rou tes, w ith lo w grades, fr o m b o th St. L ou is and
K ansas C ity v ia M em phis to N e w O rlea n s.— V . 76, p. 1031.
St. L o n is & San F r a n c is c o R R . — Offer to Purchase.—On
T uesday a fo rm a l offer w as m ade b y J. P . M organ , as per
advertisem en t on another page, to pu rchase on b eh a lf o f
C h icago R o ck Island & P a cific R R . C o., u p on the fo llo w in g
term s, any and all shares o f th e co m m o n stock ($29,000,000
outstan din g) o f St. L ou is & San F ra n cisco R R . C o., p ro v id e d
th at $23,500,000 or m ore o f said co m m o n sto ck shall be de­
p osited w ith th e firm at its office on o r b e fo re J u n e 1,
1903, in a ccep tan ce o f this offer. F o r each share o f su ch
co m m o n stock o f th e par valu e o f $100 so deposited w ill be
g iv e n :
(1) $60 (par value) In the com m on stock o f the Rook Island Co. (of
New Jersey).
(2) $60 (par value) in the five per oent gold bonds o f 1913 of said
Chicago R ock Island & Pacific RR. Co.
These last are to be a new issue limited to the aggregate amount
o f $18,500,000, and seonred under a trust agreement with Central
Trust Co. of New Y ork by the deposit and pledge o f all shares o f said
com m on stook acquired under this offer of purchase or otherwise.
Said bonds can be issued only to a faoe amount equal to 60 per cent
o f the par value of the stook pledged under the trust agreement. The
bonds are to mature Sept. 1,1 913 , to bear interest at the rate o f 5
per cent per annum from Sept. 1, 1903, payable semi-annually on the
first day o f Maroh and of September, both principal and interest to be
payable in the City of New York, free of tax. The bonds are coupon
bonds for $1,000 eaoh, with the privilege of registration as to principal.

B. F . Y oa k u m , H . C lay P ierce, Jam es C am p bell, H , H ,
P orter, B. P . Cheney and W . K , B ix b y , d eem ing th e fo r e g o
in g offer to be advantageous to the stock h old ers o f St. L ou is
& San F ran cisco R R . C o., h ave agreed to a ccep t said o ffer as
to all com m on stock ow n e d or con trolled by. them . T h e p u r ­
chase is exp ected , th erefore, to be con su m m ated .
A n y h older desiring to a ccep t th is o ffer m u st d eposit his
stock certificates, w ith p roper instrum ents o f tran sfer in
blank, on or b efore th e c lo se o f business on Ju ne 1, 1903, at
th e office o f J. P. M organ & C o., 23 W a ll S t., N ew Y o r k .
P rop er d ep osit receipts, tran sferable b y d eliv ery , w ill be
issued, en titlin g the h older on o r at any tim e a fter th e first
d ay o f J u ly , 1903, to th e d eliv ery o f b on d s (o r tem porary
bon ds) and co m m o n stock certificates o r in terim receip ts
th erefor.
T he cap italization o f th e C h ica go R o c k Island & P a cific
R R . o f Io w a , as sh ow n in a letter signed b y its V ic e P resi­
den t, in cludes, in ad d ition to th e $18,500,000 n ew g o ld 5s o f
1913, $145,000,000 stock , o f w h ich th e en tire issue, except
shares to q u a lify d irectors, is ow n ed b y the R o c k Island Co.
o f N ew Jersey, and $75,000,000 fo u r p ?r cen t g o ld bon ds o f
2002, o f w h ich $69,492,275 are issued and ou tstan d in g. T h e
authorized issues o f sto ck o f th e R o c k Island C om pany o f
N ew Jersey rem ain u n ch an ged at $54,000,000 n on cu m u la ­
tive p referred stock and $96,000,000 co m m o n stock .
New Mortgage.—See R e d R iv e r T exas & S ou th ern R v ,
above.
New Stock.—A p p lica tio n has been m ad e to the N ew Y o r k
S tock E xch an g e to list $1,692,200 a d d ition a l co m m o n s tock , i n ­
crea sin g the am ou n t listed t o $29,000,000.— V . 76, p. 1031,973.
S t . L o u ts S o u t h w e s te r n R y .— Merger with Controlled Com­
panies.—T h e shareholders o f th e St. L ou is S ou th w estern R y .

C o. o f T exas w ill v o te J u ly 6th on p u rch a sin g the T exas &
L ouisian a R R ,, ex ten d in g as fo llo w s :
From Lufkin, Angelina County, Texas, easterly about 20 miles to its
present eastern terminus in Angelina County, Texas; thenee extend­
ing and to extend to a point at or near the tow n o f Newton, in N ew ­
ton County, Texas, a distance of about 70 miles.—V. 76, p. 159.

St. L o u is T r a n s it Co.— New B on d s.— R e fe r r in g to th e $20,000,000 bond issue to be v o te d u pon M ay 23, a d ir e c to r says:
Should this issue be authorized, there w ill be only about $3,000,000
issued at once. The proceeds w ill be devoted to the retire­
m ent of outstanding obligations subject to call and bearing a higher
rate of interest than the new bonds. The remainder w in he used to
retire underlying obligations as they mature, also to provide paym ent
fo r betterments and Improvements, suoh as a new pow er bouse and
new oars, whioh have been contracted for.
The earnings o f the Transit Company for the days of the dedication
o f the Exposition, April 30, May I and 2, were in excess o f $81,000,
as against about $51,000 for the same period in 1902. These figures
give au idea o f the increased facilities neoesaary to handle the traffic
during the W orld’s Pair.

Official Statement.—See statem ent fo r U n ited R a ilw a y s Co.
o f St. L ou is in V . 76, p. 980. See also V . 76, p. 750, 655.

[V o l .

LXXVi.

A circular says in part:
In addition to owning the entire street railway system In Schenec­
tady and its suburbs, the com pany owns and operates a double-track
line 12 miles In length to Albany and a double-track line of the same
length to Troy; total in operation 6 7-6-miles, with trackage rights to
the centres of Albany and Troy. There is now under construction a
double-track line to Ballston of about 18 miles, together with other
local extensions. The com pany also owns the entire oapital stook of
the Schenectady Illuminating Co. and of the Mohawk Gas Co. neither
o f which has any bonded debt, thus owning and operating the entire
street railway, gas and eleotrlc-lighfc business o f Soheneoiaay and Its
suburbs. Several hundred thousand dollars w ill be expended on the
plant o f the gas com pany, thus largely inoreaeing its earning capacity.
The bonds above offered are, in the opinion of counsel, a first lien on
the property o f the gas company, and, subject to $2,000,000 4 ^ s, are a
lien on all property, etc., now owned or hereafter acquired by the
railway company. A sinking fund w ill commence in >923 of 1 p. c.
per annnm on the total bonds outstanding, including the first mortgage
4^8, the prooeeds to be invested in bonds of either issue if obtainable
at a satisfactory price; otherwise in any securities legal for trust funds
in this State. The $1,750,000 bonds in escrow w ill be issued for 75 per
cent o f the cash cost of permanent extensions, additions and im prove­
ments, provided that the net earnings for tw elve months preceding
any such issue of bonds shall be equal to at least twice the interest
charge on the total amount of bonds outstanding, Including the first
mortgage 4 1* perjoent bonds, together with those proposed to be issued.
For the year ending Maroh 3 i, 1903, the gross earnings were $719,680; net, $234,972; interest ou $2,000,000 first 4^3, $90,000; interest
on $750,000 consolidated 4^8. $33,750; balance, surplus, $111,222.
During the year large sums expended on betterments were oharged to
operating expenses. The property also was not in fa ll operation.
The double-traok extension to Troy was opened to W atervliet on Nov.
15th of last year and on March 2 ,1 9 0 3 , Into Troy. The earnings from
the Troy line for the month of Maroh were $3,341. It is expeoted that
the double-traok extension of about 18 miles to Ballston w ill be in
operation by July. The increase in gross earnings from the railway
and electric-light properties for the first quarter or this year over the
corresponding quarter of last year was over 66 per ceDt. This does
pot take into account any earnings derived from the gas oompany.—
Y. 76, p. 752, 266.
S h r e v e p o r t & B e d R i v e r T a l l e y R y . — Successor.—See
Louisiana Railway & Navigation Co, above,—V. 72, p. 1189.
S o u th e r n

L ig h t <fe T r a c t i o n C o., N a tc h e z , M is s .— R o a d

Offering.—MacDonald, McCoy & Co. are offering at par and

interest $300,000 of this company’s authorized issue of $500,000 first mortgage 5 per cent $1,000 gold bonds, dated April
15, 1903; due April 15, 1933, but subject to call on any inter­
est-paying date on and after April 15, 1903, at 105 and ac­
crued interest; interest payable April 15 and Oct. 15 at the
office of the trustee, Inter-State Trnst & Banking Co., New
Orleans, La., and at the First National Bank of New York,
A circular says in part:
The com pany controls all the street railway, gas, electrlo lighting
and power business In the City o f Natchez (population, 15,000) and
operates under a perpetual gas franchise and a street railw ay and
electno-llghting and power franchise grantea by the city in 1899 for a
term of 50 years, all of which are liberal in terms and free from
objeotionable limitations and restrictions. The tw o electric systems
w ill be merged Into one, additional lines of street railway w ill be built
and new rolling stook added. The gas system Is w holly inadequate,
the total sales for 1902 being only 2,248,000 cubic feet. A new and
modern gas plant and distributing system will be built at once. The
company has a street-lighting oontraot with the city for a period of 10
years from April, 1899, for 100 or more arc lamps of 2,000 nominal
c. p. at $103 50 per year eaoh. Under this contract the com pany Is
supplying the city with 107 arc lamps and also eight 32 o. p. lamps at
$t>0 eaoh.
Capitalization; Capital stock, issued and fully paid. $500,000;
bonds authorized. $500,000; reserved for extensions and betterments,
$200,000; present Issue, $300,000. Of the reserved bonds, $100,000
w ill be used forthwith to rebuild and extend the properties, including
the installation o f additional and modern gas apparatus and an ex ­
tensive system o f street mains. The remaining $100,000 w ill be held
b y the trustee for future betterments and extensions and can be is­
sued only on a basis of 30 p. c. of the cost thereof.
The com pany Is required to redeem eaoh year $5,000 bonds from
1906 to 1910, $7,000 1911 to 1915, $9,000 1916 to 1920, $11,000 1921
to 1925 and $14,000 1926 to 1932, by purchase in the open market
at not exceeding 105 and interest, or, if not so purchasable, by com ­
pulsory redemption (through drawings by lot) at said maximum price.
The earnings of the gas, electric-lighting and street railway systems
for the year ending Maroh 1, 1903, were as follow s: Gross earnings,
$31,614; expenses, including Insurance, taxes and maintenance,
$55,694; net earnings. $25,920.
The oompany is a consolidation o f three companies, form erly oper­
ating Independently, namely, the Natchez Electric Street Ry. & Power
Co.; the Natchez Light, Power & Transit Co. and the Natchez Gas
Light Co. The first tw o companies were purchased and put under one
management In August, 1902, and the property o f the last-named
com pany was purchased and added March 1,1903. By this consoli­
dation a very large saving in operating expenses w ill be effected.
The gross earnings for March, 1903, were $7,585. au iaorease of $1,334 oyer the same month In 1902. Our engineer estimates that after
the proposed improvements are installed, the combined properties un­
der proper management w ill earn $55,000 to $60,000 net per annum.

This company should not be confused with a corporation
bearing: the same name controlling: companies in San An­
San A n t o n io & A ra n sa s P ass R y .— See H ou ston & T exas- tonio, Tex. (See page 82 of S t r e e t R a i l w a y Su p p l e m e n t .)
C entral R y , a b ov e.— V . 76, p, 978,
Southern Pacific Co.—Sale o f S tock . —See Houston & Texas
San F r a n c is c o & N o rth w e s te rn R y .— Atchison Company — Central RR. above.—Y. 76, p. 973, 811.
A press dispatch reports the in corp ora tion o f this co m p a n y
Texas & Pacific Ry.—L isted .— The New York Stock Exb y A tch ison officials to con stru ct and operate a ra ilroa d line
chang has listed $61,000 additional first mortgage 5 per cent
fro m A lto n ,H u m b o ld t C o.,C a l., sou th erly th rou g h H u m b old t,
bm ds of 2000, making the total listed $22,120,000.—V. 76, p.
M en d ocin o, S onom a, M arin and C ontra C osta cou n ties, to a
con n ection w ith the A tch iso n T opeka & Santa F e near P oin t 706, 650.
Trenton (N. J.) Street Ry.— Listed in P h ila d elp h ia .— The
R ich m o n d on San F ra n cisco B ay.
The ca p ita l stock is
$15,000,000, T h e C aliforn ia & N orth w estern , w h ich fo llo w s Philadelphia Stock Exchange has listed $200,000 additional
th e lo w e r p art o f the rou te ab iv e d escribed, wa3 recen tly consol. 5s, making $1,000,000 outstanding.—V. 68, p. 475.
reported as sold, b u t the officials o f the A tch iso n d en y that
Tuscarawas Traction Co.—The entire capital stock
has been sold to Tucker, Anthouy & Co , who control
th eir com p an y or its friend s w as the purchaser.
the Cantoc-Akron Ry. and the Canton-New Philadelphia.
S ch en ecta d y (N . Y .) R a ilw a y .—N. W . H arris & Co. are
(See Canton-New Philadelphia Ry. above ) The terms of
offerin g at 97J^ and interest $750,000 fifty-yea r
p, c . $1,000
purchase are private, the published reports being inaccurate.
con solidated m ortga g e g o ld bonds dated M ay 1,1903, and due
No consolidation or reorganization of the company is pro­
M ay 1, 1953; in terest payable M ay 1 and N ov. 1 in N e w Y o r k
posed.—V.
74, p. 96.
C ity, U n ited States M ortga ge & T ru st C o., N . Y ., T rustee.
United
Power
& Transportation Co.—Ronds.—See Tren­
T o ta l au th orized issue, $7,500,000; present issue, $750,000;
reserved to retire first m ortga g e 4 ^ s (V . 73, p. 445, 1011), ton (N. J.) Street Ry. above.—V. 76, p. 706.
U t ic a & M o h a w k T a l l e y (E lectric) R y .— New Stock .—The
$3,000,000; in escrow under con servative restriction s, $4,750,000.
New York State Railroad Commission has authorizsd an in ­

M a y 16, 1903.]

THE

CHRONICLE

1087

crea se o f sto c k fr o m $ 3 ,1 0 0 ,0 0 0 to $ 6 ,2 5 0 ,0 0 0 to p ro v id e fo r
n e w c o n s tr u c tio n , a c q u is itio n s , e tc .
Purchase, Etc.— A m a jo r it y o f th e $ 1 5 0 ,0 0 0 sto c k o f th e
R o m e C it y S tr e e t R y . h as been p u r c h a se d , a n d th e lin e is
a lre a d y in p rocess o f r e -c o n s tr u c tio n as a t r o lle y ro a d . T h e
d o u b le -tr a c k e x te n s io n o f th e U t ic a & M o h a w k b e tw e e n
R o m e a n d L i t t le F a lls , 37 m ile s , o v e r p r iv a te r ig h t o f w a y ,
w a s op en ed on A p r il 2 9 .— V . 7 6 , p. 655, 160.

C o n s o lid a t e d C r o s s -T i e C o .— Incorporation.—T h i s c o m ­
p a n y w a s in c o rp o ra te d in N e w J e rse y on M a r c h 21 w ith
$ 1 0 ,0 0 0 ,0 0 0 o f a u th o r iz e d c a p ita l s to c k , o f w h ic h o n e -h a lf is
6 p. c . c u m u la t iv e p r e fe rr e d , to a c q u ire a ll th e r ig h ts in th e
U n ite d S ta te s an d C a n a d a o f th e H e g g e C r o s s -T ie C u t t i n g
M a c h in e . T h e c o m p a n y ’ s N e w J e rse y r e p r e s e n ta tiv e is th e
C o rp o ra tio n T r u s t C o .
D ir e c to r s :

INDUSTRIAL. DAS AND MISCELLANEOUS.

C o n s o lid a t e d G a s C o. o f N ew Y o r k .— Effect of Veto.—C o n ­
c e r n in g th e e ffe c t o f th e v e to in g o f th e E a s t R iv e r g a s b i ll, a
p r o m in e n t d ir e c to r is q u o te d as s a y in g :

A m e r i c a n I c e C o .— N e g o tia tio n s .— T o u c h in g
c u r r e u t, “ C o ld S t o r a g e ” in its M a y iseue sa y s :

r u m o r s lo n g

“ Cold S torage" 1b in a position to state on what It considers a b so­
lutely trustw orthy Inform ation that heavy stockholders o f the A m eri­
can Tec ('o. aro desirous to have Mr. O. Ham mond, President o f
the Ham mond lee Co., manage the affairs o f the Am erloan Com pany,
and at the same time purchase tho produot o f the Ham mond Ice Co
It Is proposed to aooom pllsh this by the form ation o f a holding com ­
pany, w ith a oapital o f $5,000,000, the Amerloan Ice Com pany to pool
tw o-tbirde o f eaoh class o f Its stock w l'h the holdin g com pany, and
allow the holding oom pany to name the otlloers and directors of both
corporations.—V. 76, p. 920, 595.
A m e r i c a n R e f r a c t o r i e s C o .— I n c o r p o r a te d ,— T h is c o m p a n y
h a s bpen in c o r p o r a te d in P e n n s y lv a n ia w it h $ 5 ,0 3 0 (n o m in a l)
c a p ita l s to c k , to e ffe c t th e c o n so lid a tio n d e sc rib e d in th e
C h r o n i c l e o f A p r il 18, p a g e 867.
T h e in o o rp o r a to r s a re :

Treasurer. Frank Plttfleld,Pittsburgh. D irectors: Geo. M. Hosaok,
John W. Bolleau. Frank Plttfleld, Pittsburgh: 8. M. Myers, Wllmerdlng; M. H. Hosaok, W llklnsburg.—V. 76, p. 867.
A r t e s ia n W a t e r C o ., M e m p h is .— Semi-Annual R e p o r t.—
T h e c o m p a n y ’s r e p o r t to th e c it y fo r th e h a lf-y e a r e n d in g
A p r il 1, 1993, s h o w s n e t r e c e ip ts fo r w a te r r a te s $ 1 6 6 ,9 3 1 ;
to ta l o p e r a tin g ex p en ses, $ 1 3 6 ,4 4 9 ; n e t re c e ip ts, $ 3 0 ,4 8 2 ; c a p ­
ita l s to c k , $ 1 ,0 0 6 ,0 0 0 ; b o n d s, $ 1 ,2 5 0 ,0 0 0 [$ 7 5 0 ,0 0 0 first m o r t ­
g a g e 5s, d u e in 1909, in te r e st J & J . : $ 5 0 9 ,0 0 0 se c o n d m o r t ­
g a g e g o ld 5s, d u e J u ly l , 1939; see V . 69, p. 1149] ; b ills p a y ­
a b le , $ 3 3 ,639. S ee “ M e m p h i s ” on p a g e 1103 o f “ S ta te a n d
C ity D e p a r tm e n t.— V . 7 5 , p. 1304.
B r i t i s h A m e r i c a ’ s L o c o m o t iv e W o r k s — Incorporated.—
T h is c o m p a n y h as b een in c o r p o r a te d u n d e r O n ta r io la w s
w ith $ 1 ,0 0 9 ,0 0 0 a u th o r iz e d c a p ita l s to c k .
T h e p r o v is io n a l
d ire c to r s a re :

H. E. Colbut and A. T. I.egg, London, England; J. R. D avidson, Cin­
cinnati; E.W. France, Bournem onth, England; T. F. H eaoook and W .R.
P. Parker, Toronto.
T h e h e a d office is in T o r o n t o .

When we undertook to concentrate onr plants at A storia we were
firmly oonvlnoed that we had the pow er to do all that we desired to
do, lDolndlng the right to lay pipes lu Astoria. But as we contem ­
plated spending millions on a plant designed to m eet tor years the
great demand for lighting in this great olty and afford the best p os­
sible servloe to Its citizens, we thought It m ight be w ell to have this
bill so that no one m ight at any time for any reason have any pre­
tense w hatever on which to dispute our right to the very nook o f our
system.
The bill has been vetoed, but we still believe we have the righ t to
make the neoessary conn ection and the opinion o f very able coun sel
sustains tnis oonvlotion.
It Is prem ature to talk o f a distribution o f surplus when w e are
about to spend many millions o f dollars In the ereotlon o f a new plant.
The properties at present ocoupled by m anutaoturlng plants on M an­
hattan Island w ill be needed for distributing stations when the A s­
toria plant Is com pleted, and It does not look as If w c should have
any real estate for sale.—V. 76, p. 1032, 921.
C o n t r a C o s ta W a t e r C o ., O a k la n d , C a l . —New Bonds.—T h e
sh a reh o ld ers v o te d on M a y 2 to in c r e a se th e b o n d e d d e b t
fr o m $ 2 ,0 0 0 ,0 0 0 to $ 3 ,0 0 0 ,0 0 0 .
T h e p ro ceed s w ill be u s e d fo r
im p r o v e m e n ts a n d n e w e q u ip m e n t.
F u rth e r fa c ts :

The oom pany has outstanding $2,000,000 5 p. o. bonds, due
Jan. 1, 1915; It also guarantees bonds o f controlled com panies as
follow s: $1,500,000 Oakland W ater Co., $600,000 A lam eda Artesian
Water Co. and $500,000 East 8hore Water Co., all three Issues being
5 per oents, due Jan 1 ,1 9 1 5 . The stook o f the Contra Costa W ater Co.
Is: authorized, $6,000,000; outstanding, $1,902,600; par value o f
shares, $ 1 0 0 .,
T h e n e w m o r t g a g e h as b een m a d e to th e U n io n T r u s t C o .
o f S an F r a n c is c o , a s tru ste e .
I t se c u r e s $ 1 ,0 0 3 ,0 0 0 o f 5 p . c .
$ 1 ,0 0 0 s in k in g fu n d b o n d s , d a te d M a y 5 , 1903, and d u e M a y 5 ,
1915,
I t c o v e r s th e e n tir e p la n t , in c lu d in g th e p ip e s y s te m .
Dividend Decreased— T h e m o n t h ly d iv id e n d r a t e , w h ic h
fo r a co n sid e ra b le p erio d w a s 42 c e n ts p er sh a re , h a s b een d e ­
crea sed w ith th e d istr ib u tio n m a d e on M a y 15 to 32 c e n ts .
W i l l i a m F . D in g e e is P r e s id e n t.— V . 7 2 , p. 1083.
( W illia m ) C ram p

B r o w n e ll C o m p a n y , D a y to n ,
O .— O ffe r in g . — T h i s c o m ­
p a n y , in c o rp o ra ted in N e w J e r se y on A p r i l 18, h a s ta k e n
o v e r th e b o ile r a n d e n g in e p la n t o f B r o w n e ll & C o. o f D a y t o n , O .. w h ic h w a s p u rch a se d b y a lo c a l s y n d ic a te s o m e t i m s
ago.
T h e c a p ita l sto c k is $ 9 5 0 ,0 0 0 , a ll o u ts ta n d in g , o f w h ic h
$ 5 50 ,000 is p re fe rre d 8 p . c . c u m u la t iv e ; p a r o f sh a r e s, $L00.
W . R . T o d d & C o . o f th is c ity a n d C in c in n a ti are o ffe r in g a
b lo c k o f th e p re fe rr e d a t p a r.
F a r t h e r fa c t s :

The preferred stock Is n on-taxable In Ohio; is non assessable and Is
preferred as to assets and dividends. Tne com pany has reserved the
right to retire the preferred stock In 1913 at 125 and at an y 5-year
period thereafter. The com pany has no bonded debt and the artioles
of association provide that no bonded debt oan be oreated w ith ou t the
consent o f stockholders ow ning three fourths o f the total issue o f pre
ferred stock The average annual earnings fo r the past four years
have been $99,876, an am ount sufficient to pay the fixed charge on
the preferred stock three times over. Bnstness established In 1855.
Officers.—President, A H. K em per, o f D ayton, O.; 1st Vioe-Prest.,
Charles A. Hlnsoh, o f Cincinnati; 2d Vlce-Prest., W. P. Smith, o f
Dayton. D irectors.—Charles A Hlnsoh, Bradford Shlnkle, 8. E. Hllles.
O. H. M. Atkins, John H. G ibson, Dr. J. M. C raw ford, G eorge V.
Richards and G eorge Puohta of Olnoinnatl; A. H. K em per and W . B.
Gebhart, o f Dayton.
N e w J e rse y r e p r e s e n ta tiv e , C o r p o r a tio n T r u s t C o .
B r u n s w i c k H o t e l C o .— Stock.— T h e a u th o riz e d issu e o f
ca p ita l s to c k , as in c re a se d s o m e t im e sin c e , is $ 5 ,0 0 0 ,0 0 0 , o f
w h ic h h a lf is n o n -c u m n la t iv e p r e fe rr e d .
T h e o r ig in a l i n t e n ­
tio n w a s to issu e sto c k to th e a m o u n t o f $ 3 ,0 0 0 ,0 0 0 . S e e V .
75, p. 1205.
C e n t r a l U n io n T e le p h o n e Co.—L o a n E x te n d e d . — A n e x ­
ch a n g e s a y s th a t th is c o m p a n y h as e x te n d e d th e u n p a id
po rtio n ($ 3,5 0 0 ,0 0 0 ) o f th e $ 6 ,0 0 0 ,0 0 0 5 p er c e n t lo a n w h ic h
w a s sec u red fr o m th e O ld C o lo n y T r u s t C o . in J a n u a r y , 1899,
th e in te r e s t r a te r e m a in in g u n c h a n g e d .— V . 7 6 , p. 975, 263.
C i n c i n n a t i G a s & E l e c t r i c C o .— New Stock.— O f th e $ 2 ,000,000 s to c k r e c e n tly a u th o r iz e d , $ 5 8 0 ,0 0 0 , it is sta te d , w ill
be offe red to th e p re se n t s to c k h o ld e r s , $ 2 99 ,000 o n J n ly 1
and th e s a m e a m o u n t on O c t. 1, a t p a r. T h e a m o u n ts n a m e d
are eq u a l to 1 p . c. on th e o u ts ta n d in g sh a re c a p ita l, a n d th e
e x p e c ta tio n is th a t th e s to c k h o ld e r s w i ll g iv e th e ir d iv id e n d
ch eck s, w h ic h th e y w ill r e c e iv e o n th e d a te s n a m e d a t th e
u su al 1 p. c. r a te in e x c h a n g e fo r th e ir p ro r a ta sh a re o f th e
n ew sto c k .
T h e p ro ceed s, it is s ta te d , w ill b e u se d to p u r ­
ch ase e le c tr ic a l m a c h in e r y fo r th e P lu m S tr e e t g e n e r a tin g
s ta tio n .— V . 76, p. 1032.
C o lu m b u s E d is o n C o .— S ee C o lu m b u s
u n d er “ R a i lr o a d s ” a b o v e .— Y . 7 6 , p . 975.

David A. Keller, John T. Collins, O liver O. Billings, A ndrew D on a ld ­
son and James Cochran.

R y.

&

L i g h t C o.

C o ln m b n s G a s L i g h t & H e a t i n g C o .— See C o lu m b u s R a i l ­
w a y & L i g h t C o . u n d e r “ R a ilr o a d s ” a b o v e .— V . 7 4 , p. 632.
C o ln m b n s & H o c k in g C o a l & I r o n C o .— Earnings. — A n
a d v a n ce s ta te m e n t fo r th e y e a r e n d in g M a r c h 31, 1903, sh o w s
a su r p lu s fr o m th e o p e ra tio n s o f th e t w e lv e m o n th s o v e r a ll
ch a rg e s (in c lu d in g s in k in g fu n d ) o f $ 9 6 ,5 4 8 .
In c lu d e d in th e
in c o m e w a s $6 0 ,7 9 5 fr o m r e n ta ls , r o y a ltie s , sto re p ro fits, e tc .
- V . 76, p. 975.

& Sons

S h i p & E n g i n e B u i l d i n g C o .—
a g r e e m e n t u n d e r w h ic h th e s y n d ic a te
w a s fo r m e d to p u r c h a se th e $ 5 ,0 0 0 ,0 9 0 n o te s p r o v id e d th a t
th e sa m e sh o u ld be o p e r a tiv e w h e n a m a jo r i t y o f th e sto o k
h ad b e e n d ep o sited w it h D r e x e l & C o . t o b e p u t u n d e r th e
v o tiD g t r u s t .
T h is h a s b een d o n e , b u t th e e x a c t n u m b e r o f
sh ares d e p o site d is n o t m a d e p u b lic .
T h e v o t in g tr u ste e s a re
E d w a r d T . S to te s b n r y . R ic h a r d H . R n s h to n a n d G e o r g e F .
B a k e r .— V . 7 6 , p . 975, 921.

Voting Trust. — T h e

D ia m o n d M a t c h C o .— P u r c h a s e .— T h e r e p o r te d p u r c h a s e
o f a M e n o m in e e M a t c h C o m p a n y is in c o r r e c t, th e r e b e in g n o
su c h c o m p a n y .
T h e p u r c h a se w a s th a t o f a lu m b e r a n d s a w ­
m ill o w n e d b y th e A . W . C la r k L u m b e r C o . in M e n o m in e e ,
M io h .— V . 76, p . 656, 380.
D i s t i l l e r s S e c u r i t i e s C o r p o r a t i o n .— C ir c u la r .— 'T h e c i r c u ­
la r o f A p r il 30 sig n e d b y P r e sid e n t C a r le y on th e o c c a s io n o f
th e d is tr ib u tio n o f th e c o m p a n y ’ s se c u r itie s c a lls a tte n tio n to
th e r e d a c tio n u n d e r th e p la n o f th e a m o u n t o f o u t s t a n d in g
sto c k a n d b o n d s fr o m $ 8 3 ,1 3 0 ,0 0 0 to $ 4 8 ,5 0 3 ,0 0 0 , a n d s a y s in
p a r t:

The earnings fo r the flsoal year ending June 30. 1903, w ill show a
substantial surplus, after providing for Interest on bonds, all charges,
and dividends at the [present] rate of 4 p. o. per annum. The demand
for onr products Is steadily Increasing, and the condition o f the busi­
ness fully justifies the expectation that the net profits w ill oontlnue to
show satisfactory annual Increases.
As the qulok assets o f the com pany are greater than the entire
authorized Issue o f bonds [$16,00u.010], the stock [of whloh there Is
$32,500,000 authorized and $29,367,000 outstanding] represents the
fixed properties, com posed o f valuable real eastate. looated In m any
o f the principal oltles of the United States, together with num erous
distilleries, all o f modern construction, and the largest m anufacturing
oapacity. and also warehouses, distributing plants, eto., In the oltles
o f New York, Boston, Philadelphia, Chicago, 8t. Louts. Omaha. St.Paul,
Cincinnati. Baltim ore, Peoria. Louisville, Frankfort. Lexington and
other cities. In addition to these properties, conservatively estimated
at $30,000,000, the stook represents extrem ely valuable trade-marks.
In another im portant feature this business differs w idely from m ost o f
the recent consolidations o f industrial enterprises. They have nearly
all been based upon the th eory o f a praotloal m on opoly. This polioy
generally leads to the establishm ent of new com petitive plants whloh
the large com pany necessarily is com pelled to purchase at high figures
In order to maintain the desired m onopoly. This ptleB up Increase
upon Increase o f fixed charges and capitalization, and raises a doubt
as to the future anility to pay dividends and fixed charges. Oar con ­
stituent com panies have gone through this phase and sinoe 1899 have
oondnoted their business in open com petition and free from artificial
com binations to oontrol prices or markets, so that the progress whloh
has been made Is sonnd and substantial.
The business In all branohes Is In a healthy state, and earnings have
been gradually Increasing, through eoonoiules. better organization,
and im provem ent in m ethod of distribution. The nature o f the busi­
ness renders it less dependent on the general financial and com m ercial
conditions than practically any other industrial enterprise. The a b il­
ity. also, o f the com panies on account o f their very large volum e o f
bnslness and financial resources, to purchase supplies muoh more
advantageously tnan Individual com petitors and to distribute their
rrodu ot at minimum cost,—all these advantages oom bine to increase
the profits, thus enabling the com panies to make larger returns, while
maintaining a low m arket price for their output.—V. 76, p. 975, 921.
D o m i n i o n S t e e l & I r o n C o .— New D ir e c to r s .— A t th e a n ­
n u a l m e e tin g o n M a y 14 th e o ld b o a r d w a s r e -e le c te d , a n d

THE CHRONICLE.

1088

the fo llo w in g added: Fred. N ich olls and J. H . P lum m er of
T oronto and W illiam M cM aster o f M ontreal.
E a rn in gs.—The annual report shows earnings o f coal co m ­
pany for ten m onths, $1,977,328; rental, $1,383,333; balance,
net, to Steel Co., $643,995, and total results as fo llo w s:
Profit Coal Co. (10 mos).$643,995 I Interest & sinkiDg fund..$410,935
Steel Co., 8 months........ 309,886 I 8 mos. pref. dividends... 233,334
Total net Income......... $953,881 I Surplus................ ........ $309,612
The C oal C om pany, from its rental ($1,333,333) and other
incom e, $28,007, paid dividends, interest, e tc., aggregating
$1,296,481, and had a balance o f $64,859 from w hich to m eet
its sinking fu n d , $130,823.— V. 76, p. 8 6 8 .
E ast H a rtfo rd , C on n ., W a ter C o.— Bonds Called.— The
$125,000 bonds o f 1893 w h ich w ere assumed b y the tow n o f
East H artford have been called for redem ption and w ill be
paid at the International T rust C o., Boston, on June 1, 1903.
— V . 71, p. 1271.
E d iso n E le c t r ic
I lln m i n a t i n g
Co. o f B o s to n .— New
S tock.— The shareholders w ill m eet June 2 to authorize the
issue o f the $863,600 stock w h ich remains unsold from the
$1,650,000 authorized early last year. See V . 76, p. 975, 921.
E le c t r ic Co. o f A m e r ic a .— See Scranton Illu m in ating H eat
& P ow er Co. b e lo w .—V . 76, p. 921, 161.
E i s h k i ll & M a tte a w a n W a t e r C o.— The foreclosu re sale has
been adjou rn ed to M ay 29. The am ount due fo r principal
and interest is stated as $290,000. The upset p rice is $85,000.
—V . 76, p. 921.
G e n e r a l E le c t r ic C o.— New D irectors.— G overn or W illia m
M. Crane o f M assachusetts and the H on. W illia m C. W h it ­
ney o f N ew Y o rk w ere elected to fill tw o new directorships
created at the m eeting on May 12.— V . 76, p. 924, 917.
G r e a t N o rth e r n P o r t la n d C em en t C o.— New P resid en t.—
C larence A . B lack has been elected President. M achinery
fo r turning ou t 2,500 barrels o f cem ent a day is expected to
be in operation sh ortly .—V . 75, p. 344.
I n t e r n a t i o n a l T y p o g r a p h C o., C le v e la n d .— R eduction o f
S tock.— The stockholders voted on A p ril 29 to reduce the
capital stock from $2,000,000 to $500,000, b y ch angin g the
par value from $100 to $25, in order to reduce taxes.
J en n ey E le c t r ic M a n u fa c t u r in g Co. o f I n d ia n a p o lis , I n d .

—New Stock.—The authorized capital stock has been in ­
creased from $80,000 to $450,000, o f w h ich $150,000 is to be 6
p. o. preferred. It is proposed to erect three new b u ildin gs,
increasing the capacity o f the plant nearly th reefold .
J o n es & L a u g h lin S te e l C o .— Im provem ents,—The “ Iron
A g e ” says:
The company has nearly completed plans for the first of the additions
announced some time ago as likely to be make. Two additional
furnaces, known as Eliza Nos. 5 and 6, will be ereoted, plans for the
first of the two being now well under way; It will probably have a
oapaolty of 450 tons dally. Four Talbot open-hearth furnaces will ulti­
mately be ereoted, work on the first two to be started shortly. They
will have an output of about 200 tons eaoh dally. The new blooming
mill, put In operation a few weeks ago. Is doing nicely and gradually
working up to Its rated capacity.—V. 76, p. 976, 50.
K a n s a s C ity E le c t r ic L i g h t C o.— C onsolidation.— See
M etropolitan Street R y. o f Kansas C ity under “ R ailroads”
a b ov e.—V . 70, p. 844.
K in g s C ou n ty E le c tr ic L ig h t & P o w e r C o., B r o o k ly n .—

L isted .— The N ew Y ork S tock E xchange has listed $625,000
additional capital stock, m aking the total am ount listed to
date $3,125,000.
E arn in gs.— F or the calendar year 1902 the com pan y re­
ports:
Net earnings of Edison Co. for year 1902 transferred under
lease agreement.......................................................................$338,498
Interest received from investment of guaranty fund and In­
terest on deposits in bank..................................................... 47,046

Total inoome for year 1902............................................$385,544
Dividends on stock (6 p. c.)................................................. 150,000
Net surplus for year 1902..............................................$235,544
The balance sheet o f Sept 80, 1902, was in Y . 76, p. 47.
The balance sheet o f Dec. 31, 1902, show s no changes o f im ­
portance aside from an increase in accounts receivable from
$11,266 to $430,629 and an increase in the profit and loss sur­
plus from $52,251 to $376,870.
D ividend Increased.—The com pany this w eek declared a
quarterly dividend o f 2 per cent payable June 1, being an
increase in the yearly rate to 8 per cent, as against 6 per cent
paid p reviou sly.—V . 76, p. 708, 657.
W i ll i a m

Knabe

& C om p an y ( P i a n o ) M fg . C o., B a lt im o r e .

This com pany is offering at par and interest $450,000 first
m ortgage 5 p. c. gold bonds, dated A p ril 15, 1903, and due
$45,000 yearly on A p ril 15 from 1904 to 1913, both inclusive.
Coupons payable A p ril 15 and O ctober 15. U nion Trust
C om pany o f M aryland, trustee. A circu lar says:

[ V o l . L X X V I.

ing capital stock from $6,000,000 to $7,000,000. Stockholders
o f record have the p rivilege until M ay 20 o f subscribing for
their pro rata o f the n ew stock at $ 1 1 0 a share, subscriptions
to be paid 25 p. c. each on the first days o f June. Ju ly,
A ugust and Septem ber. The proceeds w ill be used to pay
fo r blast furnace No. 2, w h ich it is estim ated w ill oo 3 t
$600,000 and give the com pany a p ig iron capacity o f 800
tons or 900 tons a day, or enough to m eet the requirem ents o f
its steel plant. A dd ition al ore property was recently a c ­
quired ; this the com pany desires to develop. A dditional
w orking capital is also needed. Blast furnace No. 1 was put
in operation A p ril 28, using ore fro m the com pan y’s mines,
and by July 1 it is expeoted to be supplied w ith coke from the
new cokin g plant. Jno. E. W rig h t is President.— V . 75, p. 1257.
L aw ren ce (P e n n .) C em ent Co . —Called B ond s.—F orty
($20,000) o f the 6 p. c. bonds o f 1893 have been called and w ill
be paid on or before Ju ly 10, 1903, at $505 and accrued in ­
terest fo r each bond at the office o f John A. Stew art Jr,, su r­
vivin g trustee, 45 W illiam Street, N ew Y o r k .— V . 76, p. 708.
Marconi W ireless Telegraph Co. of America.— New
C apital. E tc .— Eugene H. L ew is, Chairman o f the finance
com m ittee, on Thursday m ade the fo llo w in g an nou n cem en t:
Arrangements were completed to-day for providing the oompany
with a considerable amoant of worklDg capital, not lees than a
guaranteed amoant o f $250,000, and. in some contingencies, reaching
about $450,000. The Continental Trust Co. acts as trustee under the
various guaranty and other agreements. The plan Includes a privi­
lege to stockholders to exchange their shares of stock for certificates
of deposit, of the par value of $5 eaoh. Munroe & Munroe, of the
Broad-Exchange Building, are the representatives of the syndicate In
the city of New York.

W . H. Bentley has been elected Second V ice-President.
The report o f a proposed consolidation w ith the Canadian
com pany is officially den ied.— V . 76, p. 869, 883,
Massachusetts Gas Companies.— F irst D iv id en d .— A first
semt-annnal dividend o f 2 p. c. has been declared on the pre­
ferred stock, payable Jnne 1.— V . 76, p, 545, 386.
Miami & Erie Canal Transportation Co.— Yew? President.
— N orm an Or. Kenan has been elected President, to succeed
W , H. L am precht. The directors are :
M. J. Mandelbaum, W. 8. Hayden, F. M. W ilcox, W. H. Lamprecht,
E. G. Tlllotson, N. G. Kenan, D. J. Ryan, Thomas N. Fordyoe and Ed­
ward Goepper.

O tto M iller is Secretary and Treasurer. The line has been
com pleted north to D ayton. F reigh t to the am ount o f 200,0 0 0 tons annually is said to have been guaranteed by fa c ­
tories along the canal. The stockholders have voted to m ove
the office from Cleveland to C in cin n ati.— V . 75, p. 1402.
Monroe Transportation C o.—M ortgage.—A m ortgage has
been made to the Detroit T rust C o., as trustee, to secure
$110,000 o f first m ortgage 5 per cent g old bonds coverin g the
steamship G eorge L . Craig. The bonds m ature $11,000
yearly, and are offered at par. F arth er facts:
Bonds dated April 1,1903, due Jan. 1,1904 to 1913, both inclusive,
$11,000 annually, but subjeot to call at any interest period (Jan. 1 or
Jnly 1) to any amount at par with a bonus of 1 p. o. for eaoh year the
bond has to run. The steamer cost $225,000. President, John Oraig,
Detroit, Mloh.

National Asphalt Co.— Sold.— A t the foreclosu re sale yes­
terday, the only bidder was H enry C. E verdell, who bid in
the entire property for the reorganization com m ittee for
$6,006,000.— V. 76, p. 976, 923.
National Lead Co.— Status o f C onsolidation.— The hitch in
the consolidation o f the lead m an u factu rin g com panies has
resulted fo r the tim e being in the om ission o f the National
Lead Co. from the m erger negotiations w h ich are being con­
ducted b y the G uggenheim and the R yan interests. This
m ove is attributed by som e to the discovery that the Na­
tional " Lead Co. some weeks ago purchased the Sterling
W h ite Lead Co, o f P ittsburgh (V . 71, p. 1074), thus commit­
ting an alleged breach o f faith. Others contend that the
grou nd o f the difficulty lies in the m uch greater economy
w ith w h ich it is claim ed the U nion Lead & Oil Co. can
operate nnder the B ailey system than is possible to the
N ational by the old D u tch process.—Y . 76, p. 923, 658.
Norwich (C o n n .) Gas & Electric Co.— C ity Objects.— The
city has filed w ith Judge Gager a remonstrance against the
finding o f the com m ission w h ich was appointed to determ ine
the price to be paid b y the C ity fo r the com pany’s plant.
The city claim s that the Act under w h ich the com m ission was
appointed was unconstitutional and objeots to the assumption
o f the com pan y’s $400,000 5 p. c. bonds on th e ground that
the city can b o rro w m oney at
p. c. interest.— V . 76, p. 976.
Pennsylvania Sugar Refining Co.,Philadelphia.—FwrMer
F acts,— A lexander C .Thom pson, m anager o f the bond depart­
ment o f the C olonial Trust C o., o f P ittsburgh, P a., has issued
a circular giv in g fa rth er particulars regarding the first
m ortgage bonds recently offered at par and accrued interest
with bonus o f stock. The bonds are dated J u ly 1st, 1901,
denom ination, $1,000, due J n ly 1st, 1931. Coupons payable
semi-annually on Jan. 1st and Ju ly 1st. The m ortgage pro­
vides for an annual sinking fund o f not less than $50,000, and
the bonds can be draw n fo r redem ption after J n ly 1 st, 1906,
at 105 and accrued interest. A uthorized issue, $3,000,000;
reserved for w ork in g capital, $500,000. The circu lar says:

These bonds are secured by a first mortgage upon all the company’s
property, real, personal, and mixed, appraised by the Audit Co. of
New York|at $1,303,026, exclusive of goodwill, appraised at $325,000,
making the total value $1,628,026. The oompany has a capital of
$1,000,000, all common In $100 shares; these (bonds will represent its
only Indebtedness. The house has been Identified with the manufac­
ture of piano-fortes In Baltimore slnoe 1837. Its factories are among
the largest and best equipped in the world. Since the property revert­
ed to the Knabe famllj In 1899, Its business has steadily increased, as
shown by the following statement of net earnings after deduction of
The plant is practically completed and w ill be put in opera­
depreciation on the plant, and accounts. Interest, taxes, eto.: 1899,
tion very shortly. It Is located on the Delaware River, midway
$103,098; 1900, $124,225; 1901, $150,323; 1902, $181,584.
The President is Ernest J. K nabe J r .; Secretary and
Treasurer, W m , K nabe.
La B e lle Ir o n W o r k s C o., W h e e lin g , W . Y a.— New Stock.—
The shareholders voted on A pril 28 to increase the outstand­

between the Camden ferry slips and the Cramp shipyard. The plant
and buildings proper cover an area of about three acres, not inoluding
the docks or piers, one of which Is 600 feet long, being entirely
enolosed and fireproof, with forty feet of water, and aooomoaatlons for
|three large steamers. The tracks of the Pennsylvania RR. run into
the refinery.

M a y 16, 1903.]

THE

OHKONIOLB

Tlie refinery was built under the dlreot supervision of the George M.
Engineering Co., Limited, of Philadelphia, and has a guaran­
teed capaolty of 4,000 barrels a day, with apace for 2,000 barrels
more. The Newhall Engineering Co. has equipped the plant with the
most modern money saving machinery, euoh as automatlo oonveyers
for oonvevlng the sugar from the ships and oars to the refinery and for
handling the ooal and ashes. The entire plant Is operated by the com­
pany’s own eleotrloal system The buildings are eight stories high and
are constructed of brlok and Iron,'steel, concrete, and slow-oombustlon
timbers. Wherever fire Is used, the buildings are fireproof.
The plant has a dally capacity of 4,000 barrels or 1,320,000 pounds.
The net profit per pound Is cent, or $6,600 per day, which for a
working year of 300 days, amounts to $1,980,000; the Interest charge
at 5 p. o. on $3,000,000 bonds, is $150,000 and the sinking fund, taxes,
etc., amount to $150,000, making total fixed oharges of $300,000;
which leaves applicable to dividends an annual net surplus of
$1,680,000. If the profits should fall ofi 50 per cent, the surplus
applicable to dividends would still be $340,000.
All of the $5,000,000 stock remains In a voting trust agreement
which expires July 1, 1907, the Voting Trustees to be seleoted by the
bondholders of the company The Executive Committee so far chosen
is Frank K. Hippie, President of the Real Estate Trust Co of Phila­
delphia, Pa ; Henry R. Wilson, President of the Lincoln Trust Co. of
New York; James 8. Swartz,Treasurer of the International Navigation
Co., Philadelphia, Pa.
The total consumption of sugar In the United States in 1902 was
estimated at more than 2,500,000 tons. Of this amount, the American
Sugar Refining Co. supplies only 50 per oent, contrasting with 68 per
oent in 1899 [compare V 76, p. 160j. The average difference between
the prloes of raw and refined sugars, for the same period has been as
follows: 1902, lc ; 1901, lo ; 1900, 230.; 1899, kid.
N e w h a ll

T he real estate, bu ildin gs and m a ch in ery h a ve coat m ore
than $2,500,000,— V . 76, p. 923.
People’s Gaslight & Coke Co., Chicago — P rice o f N a tu ra l
Gas.— The com p an y has in creased its price fo r natural gas
fro m 80 cents to 50 cen ts per 1,000 c u b ic feet becau se o f the
dim in ish in g su pply and increased cost. A b o u t 1 p er cen t o f
its consum ers w ill be a ffe cte d .— V . 76, p. 380,
People’s Pure M ilk Co., New York City.— New C om p a n y.
—T his com p a n y w as in corp ora ted at A lb a n y on M ay 2 w ith
$25,000,000 cap ital stock in $100 shares, o f w h ich $10,000,000
is 7 p. c. cu m u la tiv e preferred . T h e d irectors are:

President. Ezra A. Tuttle of 150 Broadway; Vioe-Pres. and Treas­
urer, J. C. Kelley; Secretary. Byron A. Brooks; Le Boy W. Baldwin,
Eugene Pltou and James L. Bennett of New York City and Lewis H.
Nash of Brooklyn.
P resid en t T u ttle says:

The company has made five-year contracts with 10,000 farmers In
the vicinity of New York to take their milk at a stated prioe. It has
also seoured options on 200 or 300 milk-wagon routes in the city, sup­
plying two thirds of the milk oonsumed in New York, or about 20,000
cans per day. Arrangements for financing the company have been
made, and It Is expected to begin business In about four months.
Peoria (111.) Gas Light & Coke Co.— F a v ora b le D ecision .—
Special M aster in C han cery, I. C, P in ck n ey , appointed b y
Ju d g e H u m p h rey, o f t h e ^ n it e d States D istrict C ourt, filed
his report at P eoria, 111., on M ay 2. T he M aster finds that
the rates fixed by th e city m u st be reasonable and th at the
question o f reasonableness ca n o n ly b e d eterm in ed b y the
cou rts. T h e case arose ou t o f an o rd in a n ce passed b y the
C ity C o u n cil Sept. 4, 1900, fixin g the m a x im u m p rice fo r gas
at 75 cen ts a thousand c u b ic feet. —V . 71, p. 915.
Roanoke Navigation & W a te r Power Co.— Sold,,— A ll the
franchises, can al and oth er p rop erty o f this com p a n y are re ­
ported to have been sold to R ich m o n d and N o r fo lk capitalists.
— V . 65, p. 729.
Rome (G a.) Gas L ight Co.— S o ld .—A t the fo re clo su re sale
on M ay 5, u n d er decree o f th e U n ited States C ircu it C ourt,
the prop erty w as bou ght in b y J o h n M, K e n n ed y , fo r the
bon d h old ers fo r $18,500.— V , 76, p. 216.
Scranton (P a .) Illu m in atin g, Heat & Power Co.— R e ­
fu n d in g.— This com p a n y , w h ose en tire ca p ita l stock is
ow n ed b y the E le ctric C om pany o f A m e r ic a , has c o m ­
pleted the refu n d in g o f its $ 1 0 0 , 0 0 0 o f 6 p. c. bonds
into th irty-year 5s, dated M ar. 1 , 1903, and due M ar. 1, 1923,
but su b je ct to call at com p a n y ’s op tion a fter M ar. 1, 1913. at
par. T otal issue lim ited to $100,000; net earnings fo r 1902
$50,408, T olan d Bros. & Co. and C handler Bros. & C o., both
o f P hilad elp h ia, are offerin g a blo ck o f th e n ew bonds at 103)^
and interest.
S h erm a n ( T e x .) G as Light C o.— P erm its to d o business in
Texas w ere recen tly gran ted to this co m p a n y o f A u g u sta ,
M e., w ith a cap ital stock o f $200,000.
Standard Steel Car C o.— B on d s.— T he m eetin g to a u th orize
the $2,000,000 bonds has b e e n ad jou rn ed u n til J u n e 29, A
regular qu a rterly d ividen d o f
p, c. on the stock is report­
ed, payable May 19,— V . 76, p. 923.
Tennessee Coal, Iron & R R . Co.— New D ir e c to r .— 'El. R .
C hapm an has been succeeded as d ire cto r b y A ssista n t S e c ­
retary and T reasu rer H . R . S loa t.— V . 76, p. 870, 434.
Toledo F u rn a ce Co.— S tatu s.— T his [co m p a n y , w h ich w as
in corporated in O hio in F e b ., 1902, and w h ich has u nd er c o n ­
stru ction a blast fu rn a ce w ith a d a ily ca p a city o f 350 tons o f
fou n d ry iro n , has increased its a u th orized cap ital stock fro m
$1,000,000 to $1,350,000. T he co m p a n y is p ra ctica lly o w n ed
by P icban d s, M ather & C o. T he p lan t is ex p ected to be in
operation w ith in a fe w w eeks. T he property in cludes a b ou t
8 8 acres, w ith d ock s, etc.
N o bonds. Par o f shares (all
co m m o n ), $100. P residen t, H . G. D a lton ; S ecretary, E. P .
W illia m s; Treasurer, H . Q . D alton .
Topeka W ater Co.— Sale to C ity .— See T op eka, K a n ., in
“ State & C ity D epartm en t” on page 1105.— V . 75, p. 506.
Traction & Power Securities Co.— See W estin g h on se
E le ctric & M a n u fa ctu rin g Co. b elow and also in V . 73, p. 1318.
United States Cotton Duck Corporation.— R e a d ju s tm e n t.
—A fte r the m eetin g o f the board on M ay 8 , C hairm an W a rfield said

1089

The directors adopted resolutions approving the appointment o f the
readjustment managers (V. 76, p. 97 7) and giving them authority to
propose and Issue plans looking to a more oomplete merger of the In­
terests of the United States Cotton Duok Corporation with the M ount
Vernon W oodberry lotton Duok Co. on terms fair to both, and to pro­
vide additional working oapital for the oomblned companies.

T he plan suggested con tem plates the retirem en t o f th e p re­
ferred stock o f th e U n ited States C om p an y and the in co m e
bonds o f the M ount V e r n o n -W o o d b e r r y C om pany and th e
issue in th eir stead o f n ew p referred stock and a b o n d c o v e r ­
in g the plants o f both oorporatione.
T he holders o f M ount V e r n o n -W o o d b e r r y in co m e bon d s
have selected th e fo llo w in g B altim ore m en as a p ro te ctiv e
co m m itte e :
J.
W illoox Brown, President Maryland Trust Co.; J. H. Ferguson.
President of the Colonial Trust Co ; Douglas H. G ordon, President o f
the International Trust Co.; Jesse Ililles, capitalist; Douglas H.
Thomas, President Merchants’ National Bank.—V. 76, p. 1038.
U n it e d S ta te s T e le p h o n e C o.— E a rn in g s.— T he earnings
fo r tne three m on th s en d in g M a rch 31, 1902, are stated as
fo llo w s :

Gross earnings, $88,722; expenses, inolndlng taxes, $51,728; net
earnings, $36,742; oharges, $24,805; surplus for stook, $11,937.—
V. 76, p. 483,439.
W e s t in g h o n s e E le c t r i c & M a n u f a c t u r i n g C o .— New S tock.
— S tock h olders o f record on M ay 23, 1908, are offered the
privilege o f su b scrib in g to $4,500,000 o f n ew “ assen ting”
stock at $80 per share o f $50 at the rate o f on e share o f such
n ew stock fo r every fo u r shares o f ex istin g stock . S u b scrip ­
tions m ust be m ade u pon fo rm s furnished b y the com p a n y
before 3 p. m . on Ju ne 8,1903, at the office No. 120 B roa d w a y ,
accom p an ied b y a ch e ck fo r $30 fo r each share su b scrib ed
fo r . T he balance w ill be payable as fo llo w s : J u ly 23, 1908,
$25 per share; Sept. 14, 1903, $25 p er share, A tran sferable
receipt w ill b e issued u pon the first p a ym en t, in exch an ge
fo r w h ich stock certificates w ill be delivered u pon receiv in g
the final paym ents. T he se co n d and th ird in stalm en ts m ay
be discounted at the rate o f 4 per ce n t per an n u m , b u t on ly
at th e tim e o f su b scrip tion . T h e stock offered w ill be en ­
titled to participate in any d ividen ds d ecla red fo r the quarter
en d in g Sept. 80, 1903.
S u b scrip tion righ ts fo r fra ction a l
am ounts o f stock m a y be pu rchased or sold at th e N ew Y o r k
office o f the com pany.
The proceeds w ill be used fo r exten sion s and a d d ition s and
fo r w o rk in g capital.
T his sale o f n ew stock w ill leave in th e trea su ry $2,466,950
o f the $ 1 0 , 0 0 0 , 0 0 0 assenting sto ck a u th orized b y the sh a reh old ­
ers in F ebruary, 1901, w h en the au th orized issue w as raised
fr o m $15,000,000 to $25,000,000.
Official C ircu la r.— A c ircu la r signed b y the P residen t says:

E arnings , E tc .—The grow th of the business Is shown b y the follow ­
ing statement of sales for the four flsoal years ending Maroh 31 ,1 9 0 8 :
1900.
1901.
1902.
1903.
$12,793,703
$15,853,481
$19,975,958
$23,899,492
The net earnings from the com pany’s manufacturing operations
(Including those o f subsidiary corporations all of whose oapital stook
Is owned by the company) for the year ending March 31 ,190 3 (subjeot
to the completion of the Inventory) aggregate In round figures $4,650,000. These earnings, after liberal deductions for depredation and
other purposes, exoeed 20 per oent upon the outstanding oapital
stock. Dividends have been paid at the rate of 7 per oent per annum
upon the preferred stock since 1892, and at the same rate upon the
“ assenting” stook since August, 1901.
A dditions —In order to meet the rapid Increase in the business,
additions were made In 1900 and 1901 to the main works at East
Pittsburgh wblob doubled their floor spaoe and raised their output
oapaolty to the present average of about $2,000,000 per month. The
growth In the demand for eleotrloal apparatus is still so great that the
company Is now constructing..adjaoent to the present works at East
Pittsburgh, new works having an aggregate floor space equal to tw othirds of that heretofore available. The com pletion of these works
should increase the com pany’ s output oapaolty by 50 per oent.
In addition to Its main works at East Pittsburgh, the com pany Is
keeping In full and profitable operation Its factories at Newark and
Cleveland and also works at Bridgeport, Conn., belonging to the
Bryant Eleotrlo Co . a corporation having a large business In the manu­
facture and sale of electrical details, whose entire oapital stock has
been acquired by your company,
C hange in D iv id e n d P e r io d . —Inasmuoh as the preferred stock Is
entitled to participate pro rata with the “ assenting” stock In dividends
above seven per oent per annum, It is proposed on July 1st n ext to
make the dates for the payment o f dividends on both classes of stock
coinolde by.thepaym entof a'proportionate dividend on the “ assenting”
shares, so that there oan be no possible discrimination or Inconveni­
ence in the event of the payment of dividends at rates exceeding 7 per
oent per annum.
F oreign I nvestments .—The com pany holds the follow ing amounts
of stock o f the British Westlnghouse Electric & Manufacturing Co.,
Limited: Preference shares, £212,145; ordinary shares, £375,460.
The British Company Is now actively turning out electrical apparatus
at its new works at Manchester. The growth of its business Is shown
by the follow ing amount o f contracts taken, viz.: For year ended
July 31, 1899, $1,395,000; 1900, $2,735,000; 1901, $3,690,000; 1902,
$4,660,000, and for the nine months ending April 30 ,190 3, $6,500,000 (compare V. 75, p. 1414).
Y our oompany alBo owns 5,902,500 francs of the capital stook of
La Societle Anonym e Westinghonse, a corporation with an aggregate
oapital stook of 20,000,0<;0 francs, which was organized join tly with
the Westlnghouse Air Brake Co. to m anufacture electrical and air
brake apparatus for Franoe, Spain, Belgium, Portugal, Switzerland
and Holland (V. 73, p. 1318).

A llied C om p a n y.— T he shareholders o f the T ra ctio n &
P ow er Secuities C o., w h ich w as organ ized in L o n d o n in
D ecem ber, 1901 (see V . 73, p. 1318), v o te d on M arch 2, 1903,
to increase the a u th orized issue o f capital sto ck fr o m £ 1 . 0 0 0 ,0 0 0 to £ 2 , 0 0 0 , 0 0 0 by cre a tin g in addition to th e £ 1 , 0 0 0 , 0 0 0
co m m o n stock £ 1 , 0 0 0 , 0 0 0 o f n on -cu m u la tive p referen ce £ 1 0
shares. See fu ll report o f first annual m eetin g in th e “ L o n ­
don E co n o m ist” o f M a rch 7, 1903, pages 437, 438,— Y . 75, p.
1414.
— Messrs. H ayden , Stone & C o., o f B oston, h a ve issued an
interesting circu la r on the Canadian P a cific R y .

THE CHRONICLE.

1090
R

e p o r t s

a n d

.D

o c u m

[Vol.

LXXVI.

e n t s .

PHILADELPHIA COMPANY.
N IN E T E E N T H

AN N U AL

R EPO R T— FOR

O ffic e of th e P h il a d e l p h ia . C o m p a n y .
)
P ittsb u r g h , P a ., M a r c h 3 1 s t , 1 9 0 3 f
T h e B o a r d o f D ir e c to r s h e r e w ith s u b m it th e ir r e p o r t fo r
t h e fis c a l y e a r e n d i n g M a r c h 3 1 s t , 1 9 0 3 .
D a r i n g t h e y e a r 1 2 w e ll s w e r e p u r c h a s e d a n d 8 5 w e ll s w e r e
d r i l l e d , o f w h i c h 6 7 w e r e p r o d u c t i v e o f g a s , 8 o f o il a n d 10
u n p r o d u c t i v e ; 2 0 w e l l s w e r e s o ld a n d 5 4 a b a n d o n e d , h a v i n g
c e a s e d t o b e p r o d u c t i v e ; m a k i n g t h e t o t a l n u m b e r o f w e ll s
o w n e d o r c o n t r o l l e d t h r o u g h s t o c k o w n e r s h i p a n d in u s e b y
th e C o m p a n y at th is d a te , 516.
D u r i n g t h e y e a r 8 2 *58 m i l e s o f p ip e w e r e r e c l a i m e d a n d
160*7 2 m i l e s w e r e la i d .
T h e t o t a l a m o u n t o f p ip e lin e s
o p e r a te d b y th is C o m p a n y e ith e r t h r o u g h o w n e r s h ip or
s t o c k o w n e r s h i p i n o t h e r c o r p o r a t i o n s i s n o w 1 ,3 3 4 *8 8 m i l e s ,
o f th e f o llo w in g s iz e s:

27
13
35
74
127

MUes
Miles
Miles
Miles
Miles

of
of
of
of
of

? 9 -inch
3o-incli
24-inch
2 0 -inch
16-inch

pipe.
pipe.
pipe.
pipe.
pipe.

63
99
242
268
386*88

Miles
Miles
Miles
Miles
Miles

o f 12-inch pipe.
o f 10-incli pipe.
o f 8 -inch pipe.
o f 6 -inch pipe.
o f 5-inch & smaller.

T h i s d o e s n o t i n c l u d e t h e 134*3 1 m i l e s o f m a i n s o f t h e
A l l e g h e n y H e a t i n g C o m p a n y , n o r t h e 335 *4 2 m i l e s o f m a i n s
o f o u r s e v e r a l a r tific ia l g a s c o m p a n ie s .
T h e c o m p a n y n o w h o ld s u n d e r le a s e 2 8 9 ,5 0 0 3 9 -4 0 a c r e s o f
g a s a n d o il t e r r i t o r y s i t u a t e i n W e s t e r n P e n n s y l v a n i a a n d
W e s t V ir g in ia .
I t c o n tr o ls t h r o u g h its o w n e r s h ip o f th e
U n io n G a s C o m p a n y o f M c K e e sp o rt 3 9 8 )£ acres an d th ro u g h
i t s m a j o r i t y o w n e r s h i p o f t h e E q u i t a b l e G a s C o m p a n y 1 .1 4 0
a c r e s o f l e a s e h o ld s .
T h e C o m p a n y h a s a c q u i r e d d u r i n g t h e y e a r 1 0 5 ,7 2 5 1 7 -2 0
a c r e s o f p r o d u c tiv e g a s te r r ito r y .
B y su rren d ers o f u n p ro ­
d u c t i v e a n d e x h a u s t e d le a s e s , i t h a s r e d u c e d t h e p r e v i o u s
h o ld in g s so t h a t th e t o t a l in c r e a se in a c r e a g e d u r in g th e
y e a r is 8 7 ,9 6 8 7 -2 0 a c r e s .
T h e C o m p a n y s o ld d u r i n g t h e y e a r 2 8 ,2 8 5 ,1 0 2 .3 5 0 c u b i c f e e t
o f g a s , b e i n g a n i n c r e a s e o f 4 ,4 0 0 ,1 6 0 ,3 5 0 c u b i c f e e t , w i t h
a d d i t i o n a l r e c e ip t s f r o m t h a t s o u r c e o f $ 5 8 1 ,0 4 1 6 6 .
T h e r e h a s b e e n a h i n c r e a s e d u r i n g t h e y e a r o f 6 ,8 5 5 d o m e s ­
t i c c o n s u m e r s o f t h e n a t u r a l g a s s u p p lie d b y t h e C o m p a n y
a n d t h e c o m p a n ie s i t o p e r a t e s .
T h e P h ila d e lp h ia C o m p a n y
a n d t h e c o m p a n ie s i t o p e r a t e s s u p p l y 4 1 ,8 9 0 n a t u r a l g a s c o n ­
s u m e r s a n d t h e A l l e g h e n y H e a t i n g C o m p a n y s u p p li e s 1 2 ,8 5 1
con su m ers.
T h e o p e r a tio n s o f th e P itts b u r g h R a ilw a y s C o m p a n y w ill
b e fo u n d in th e r e p o r t o f M r . J . D . C a lle r y , P r e s id e n t, h e r e ­
w it h p r in te d .
A c c o m p a n y in g th is r e p o r t a re s ta te m e n ts s h o w in g th e
fin a n c ia l c o n d itio n o f th e C o m p a n y .
F o r th e B o a rd ,
J. H . R E E D ,

President.

THE

YEAR

E N D IN G

M ARCH

31,

1903.

| B rou gh t fo rw a rd ............................................. ...................
D e d u c t io n s

from

§3 ,147,6031

I ncom e.

R en tals o f L eased Gas L in e s —

Chartiers V alley Gas C om p an y...................
Pennsylvania Natural Gas C om pany.........
Other Com panies..............................................
Interest on Current L ia b ilitie s.....................
Tenem ent E xp en ses.......................... ............

$60,000 00
31,200 00
960 0 0
26,424 30
38 25

T otal Deductions from Incom e

118,622 55

Net In co m e ........................................................

$3,028,950 60

F i x e d Ch a r g e s .

Interest on Funded D eb t...............................

863,282 74

Surplus fo r Y ea r...............................................
$2,165,697 8 6
Premium on $1,1,925,000 00 B onds Sold. $105,625 00
Profit on R ealty S o ld .......................................
2,000 00
D eferred D ividends R eceived on C onsoli­
dated T raction Com pany P referred
Stock, 232,723 Shares, at $3 00 E a c h ....
698,184 00
---------------------805,809 00
1,057,580 06
Surplus A pril 1st, 1902..................................
$4,029,066 92
D e d u c t io n s

from

Su r p l u s .

D ividends on P referred Stook...................... $287,250 96
Dividends on Com m on S tock ........................ 1,702,931 25
Cash Com m ission Paid fo r Sale o f 18,720
Shares o f Common Capital Stook at
$2 50 Per Share...................... ......................
46,800 00
V alue o f A llegheny & Chartiers R ailw ay
Com pany Capital Stock Charged O ff___
420 00
---------------------- 2,C 37,402 21
Surplus M arch 3 1 ,1 9 0 3 , P er B al’ ce Sheet.

COMBINED

$1,991,664 71

INCOME ACCOUNT FOR

TH E Y E A R

ENDED

M ARCH 31, 1903.
C o n s o l id a t e d G a s C o m p a n y o f t h e C i t y o f P it t s b u r g h , T h e
A l l e g h e n y C o u n t y L ig h t C o ., E q u it a b l e G as C o m ­
p a n y , B r a d d o c k G a s & L ig h t C o . a n d
P it t s b u r g h R a i l w a y s C o .

Gross E arnings......................................................................... $10,555,537 72
O perating E xpenses and T a x es...........................................
5,956,429 60
Net E arnings...................................................................... $4,599,108 12
Other In co m e........................................ ....................................
177,302 72
Total In com e........................................................................ $4,776,410 84
D eductions from In co m e ....................................................... 2,069,178 6 8
F ixed C harges:
Interest on Funded D eb t.......................... $1,787,992 50
Dividends on P referred Stock.................
120,000 00
---------------------Net I n c o m e ..........................................................................

$2,707,232 16

1,907,992 50
$799,239

66

N o t e .—There have been declared ou t o f this surplus for the year

P H IL A D E L P H IA

COM PANY.

INCOME AN D P R O FIT AND LOSS ACCOUNT—Y E A R ENDED
M ARCH 31, 1903.

Dividends on Common Stocks o f the above-nam ed Companies to the
am ount o f $107,925. The PhUadelphia Com pany’ s proportion o f such
Dividends amounts to $104,724, and is included in the item o f “ D ivi­
dends on Stocks Owned,” $1,424,197 94—In com e accou nt o f Phila­
delphia Company.

G ross E a r n in g s —

G as.......................................................................$3,769,163 14
O il........................................................................
161,155 24
T otal Gross E arnings................. ...........

P H IL A D E L P H IA COM PAN Y—G E N E R A L BALAN CE SHEET
M A RC H 31, 1903.

$3,930,318 38

A sse t s .

O perating E xp en ses—

R ights of-w ay . R entals and L eases............ $625,477 60
Gas P u r c h a s e d ................................................
152,001 90
P roduction E xp en ses......................................
77,049 53
Transpor’ iion and Distribution E xpenses,
153,9fc0 07
Selling and collectin g E xp en ses..................
56,610 73
M aintenance E xp en se....................................
510,165 98
General E x p e n s e ..................
174,232 58

P r o p er ty and Plant—

T otal O perating E x p e n se s.................... $1,749,498 39
T a x e s...................................................................
8,673 65
T otal O perating E xpenses and T axes.
Im p rovem en ts,
sion s. Kte.—

Betterm ents,

$1,758,172 04

E x te n ­

New Gas W ells.................................................
New OH W ells...................................................
Changing P ipe Lines—Outside C ity ...........

Charters, Patents and Franchises.......
Pine Lines, Transportat’ n and D istrib’ n.
Gas W e lls......................................................
Gas R ig h ts............................................. .—
Gas Leases.....................................................
Rights o f W a y..............................................
Real E state ..................................................
B u ild in g s_______ . . . . . . . . . __ _____ ___ _
Telephone L ines...........................................
M eters ........................................................
R egulators.....................................................

$1
5,697,888
477,125
183,543
339,288
120,945
513,876
22,427
35.804
700,966
288,298

00
15
65
69
11
34
77
73
57
05
75

T otal P roperty and Plant...................

Total Im provem ents, Betterm ents,
E xtensions, e t c ......................................

$8,380,165 81

Im provem ents a n d B etterm en ts—

$356,152 16
33,527 90
182,547 57

Service Oon%eotions....................................
D istribution L in es..................................
572,227 63

T ota l E xpenses,
Taxes, Im p rove­
ments, Betterm ents, E xtensions, e to .

$2,330,399 67

N et E a rn in g s......................................................

$1,599,918 71

$271,936 01
309,669 80

Total Im provem ents and Betterm ’ ts.
T ools
.......... .............................................
Office Furniture and F ixtures.................
H orses and Stable E quipm ent.................
Materials and Supplies...............................
Stocks o f Other Companies O w n ed.......
U nexpired In su ra n ce.................................

$581,605
45,000
14,850
5,632
146,743
41,671,973
8,918

81
00
00
05
66

00
41

C u rrent Asset*—

Other In co m e—

Cash at Bank and on H and......................
Bills R eceivable...........................................
A ccounts R eceivable........................... . . .

Dividends on Stocks O w ned..........................$1,424,197 94
Rents of Real Estate and B u ild in gs...........
3,378 46
Interest and D iscount
...............................
9 3 ,7 9 5 0 1
M iscellaneous....................................................
26,313 03

T otal Current Assets,

Total Other In com e ..................................

1,547,684 44

Total In com e ...................... ..............................

$3,147,603 15

Total

$393,365 25
734.649 12
3,040,079 35
4,168,093 72
$55,022,982 46

THE CHRONICLE

M a y 16, 1908.]
L ia b il it ie s .

1091

SCH EDULE OF C A P IT A L STOCK SH A R E S OF O TH ER
CO RPORATIONS

Capital S tockCommon, &7 9 ,O6 O6Si2 j 000o shares of $50
each...........................................................$28,953,029 16
Preferred, 114,896** sliaresof $50 eaoh. 5,744,812 50

O w n e d a n d P o s s e s s e d a t M a r c h 31, 1903, b y t h e
P h il a d e l p h ia C o m p a n y .

Shares
Owned.
. 232,757
,.2 8 4,2 4 9
..339,998
.. 29,850
.. 19,822
.. 12,829
.. 13,774
..
4,908
2,641
i.. 80,000
.. 50,000
.. 50 000
.. 15,000
.. 16.000
..
6,000
.. 5,000
.. 5,000

Total Capital S took ............................
$34,697,841 66
Funded Debt—
First Mortgage Collateral Trust Gold
Bonds, being 5,500 Bonds of $1,000
each, 50-year, 5% ................................. $5,500,000 00
Consolidated Mortgago and Collateral
Trust Gold Bonds, being 12,3121700
Bonds of $1,000 eaoh, 50-year, 5 % ___ 12,312,850 00
Total Funded D ebt.............................
Current Liabilities—
Chartlers Valley Gas Co., Lease Aoo’t...
Interest on Bonds, Acorued not due___
Reserved for Dividend on Pref’d Stook.
Accounts Payable......................................
Commonwealth of Pennsylvania............
Consumers’ Advances.................
Unclaimed W ages.....................................
Total Curront Liabilities....................
Froftt amt Loss Account—
Balance to Credit Maroh 31, 1903.........
Total......................................................

17,812,850 00
$2,352
279,415
23,930
74,814
41,419
98,092
601

67
02
15
85
20
93
27
520,626 09
1,991,664 71
$55,022,982 46

W e h a v e e x a m in e d th e B o o b s an d A c c o u n t s o f th e P h ila ­
d e lp h ia C om p a n y fo r th e y e a r en d ed M a r ch 31, 1903, a n d w e
h e r e r y c e r t if y th a t th e fo r e g o in g B a la n ce S h eet an d S tate­
m en t o f In c o m e an d P r o fit an d L oss A c c o u n t are c o r r e c t .
(S ig n e d ,) H a s k in s & S e l l s ,

Certified Public A ccountants.
New Y

ork,

M ay 1st, 1903.

Mansfield & Chartlers Gas C o.........................
D uquesne N atural Gas Co............ ...................
Fuel Gas Co. o f the County o f A lleg h en y ...
Mifflin Natural Gas C o.......................................
Pittsburgh & Charleroi Street R a ilw a y C o.
Tarentum Light & H eat C o...............................
Carpenter Natural G as C o ................................
Penn Fuel C o ..................................... ..............
A cm e Gas C o.........................................................
B raddook Fuel C o................................................
A om e Fuel C o .......................................................
Tustln Street R a ilw a y C o..................................
The Philadelphia Co. o f West V irg in ia ........

..
..
..

1,000
1,000
1,000
200
200
200
100
100

10

Pref.
Com.
14
44
44
44
Pref.
Com.
44
44
Pref.
Com.
44
44
44
44
44
4t
it
if
ft
it
it
<4
44
(4
it
U
44
it
“
it
H

Total
Issue.
240,000
300,000
340,000
30,000
20.000
20,000
14,000
6,000
5,000
80,000
50,000
50,000
15,000
16,000
6,000
5,000
5,000
2,000
1,000
1,000
1,000
500
200
200
200
200
100
100
100
100
70
70
24
10

PITTSBURGH RAILWAYS COMPANY.
FIR ST A N N U A L R E P O R T — FOR T H E F IS C A L Y E A R
P it tsb u r g h , P a ., M arch 31st, 1903.
To the President and D irectors o f P hiladelphia C om pany.

E N D IN G M A R C H 31, 1903.

A tta ch ed h ereto w ill be fou n d a statem en t o f the op e ra ­
tions o f the C om pany for the fiscal yea r en d in g M arch 31,
1903.
R esp ectfu lly su bm itted for th e D irectors.
JA M E S D. C A L L E R Y ,
____________________
P resident.

G entlem en :
In su bm ittin g a report fo r the year ending M arch 31st,
1903, your D irectors reco rd the first fu ll year o f operation o f
the P ittsburgh R ailw ays C om pany. The P ittsburgh R ailw ays
C om pany con trols by ow nership o f stock, or b y lease, the
fo llo w in g traction and street ra ilw a y com panies, to w it:
P IT T S B U R G H R A I L W A Y S C O M P A N Y .
C onsolidated T raction C om pany, U n ited T raction C om pany
INCOME AN D P R O F IT A N D LOSS ACCOUNT F O R Y E A R
o f P ittsburgh , P ittsburgh & B irm ingh am T raction C om pany,
E N D IN G M A R C H 31, 1903.
W est E nd T raction C om pany, M onongahela Street R ailw ay
C om pany, Pittsburgh & Charleroi Street R a ilw a y Com pany G ross R eceipts from O perations........................................... $8,276,565.08
and S uburban R apid Transit Street R ailw ay C om pany. A ll
Operating Expenses—
o f the corporations prior to January 1st, 1902, have been G eneral E x p e n s e ............................................. $537,534 58
operated under separate m anagem ents. The R ailw ays Com ­ C onducting T ran sp orta tion ......................... 2,594,521 21
319,179 36
p an y took possession o f the property and organ ized a system M aintenance o f W ay and S tructures.......
aintenance o f E q u ip m en t.........................
650,315 46
o f departm ents cov erin g the entire territory and operated M
Parks and D uquesne G arden E x p e n s e s ..
149,462 22
all o f these departm ents from one headquarters. The eifeot
Total O perating E x p e n s e s .......................$ 4,251,012 83
o f the consolidation has show n great e con om y and efficiency
114,644 50
w hen a ccou n t is taken o f the extrem ely difficu lt problem Bridge T o lls ..........................................
T a x e s .........................................................................
436,966 11
y ou r D irectors had undertaken. It is not to o m u ch to say
th at the operation has been satisfactory. D uring the entire
T otal O perating E xpenses and Taxes
4,802,623 44
year the p u blic has had b u t fe w occasions to com plain o f
Net E a rn in gs.....................................
$3,473,941
64
serious delay, indeed alm ost none, save those in ciden t to the
Other Income inherent infirm ities o f ele ctric service, and the num ber o f
dvertisin g in Cars........................................
$35,619 46
these is happily sm all. The increase in the total num ber o f A
R en tal o f T rack................................, ..............
8,101 25
passengers fo r the entire system was 13'84 per cent.
31,289 65
R en ts o f R eal Estate and B uildings.........
18,989 48
D uring the year the pow er stations have been com pletely In terest and D iscou n t...................................
24,449 02
renovated and repaired. These stations are n ow produ cin g M iscellan eous...................................................
fu lly tw en ty-five per cen t m ore p ow er than w hen this C om ­
T ota l Other In com e
118,448 86
pany took possession. Sub-stations, together w ith storage
T otal In co m e .................................. ........................... $3,592,390 50
batteries, w ere installed at Oakland, Carnegie and Coraopolis.
T o m eet the requirem ents o f the con stan tly g row in g busi­
D e d u c t io n s f r o m I n c o m e .
ness, th e C om pany is erectin g a large p ow er station at
Rentals o f Leased Companies—
B rnn ot’s Island on property o f the P hiladelphia C om pany, United T raction Co. o f P ittsb u rgh ............. $328,269 02
666,603 01
w h ich is a d v a n t'g e o u sly situated fo r coal, gas and w ater, Consolidated Traction C o .............................
61,749 24
and also cen trally located for the d istribu tion o f d irect as Interest on Current L ia b ilities....................
Tenem ent E x p en ses.......................................
2,926 17
w ell as alternating cu rren t.
The C om pany during the year has con stru cted 27 miles
Total D eductions from In co m e ....................................
1,059,547 44
o f n ew tracks. The total tracks operated b y this C om pany
Net In co m e .................................................................. $2,532,843 06
n ow is about 411 m iles. To relieve the co n g estion in the
F i x e d Ch a r g e s .
d ow n -tow n districts, it has been fou n d necessary to con stru ct
a num ber o f loops, w h ich special w ork and cross-overs have Interest on F unded D e b t.............................$1,380,592 50
Dividends on Preferred Stock—
been at great cost, but this has to a w on d erfu l exten t relieved
the con gestion and has w ork ed great e co n o m y and a m ore United Tract. Co. o f P ittsb ’ g h ..$150,000
C onsolidated T raction C o........... 720,000
870,000 00
2,250,592 50
system atic m anner o f operating the cars.
The com p an y has m aintained its plant, tracks, cars, b u ild ­
Surplus for Y e a r ..............................................................
$ 282,250 56
ings and other equipm ent in th orou gh repair and has added D efloit A pril 1, 1 9 0 2 ..................................................................
75,064 27
one hundred and eighty-five (185) m otor cars to its equ ip ­
$207,186
29
m ent. One hundred and fifteen (115) o f these cars are o f a Bad A ccou n ts Charged o ff.......................................................
’ 224 50
m uch longer type than h eretofore used in this city , and are
Surplus M arch 31, 1903.................................................
$206,961 79
equipped w ith double trucks.
These cars are gen erally
adm ired and m eet the approval o f the p u b lic.
Note.—D uring the fiscal year ending M arch 31, 1903, the G ross
T o further m eet the in creasing dem ands o f the business, R eceipts from O peration increased $1,006,729 81 ov er the same period
it w ill be necessary du rin g this year to add m aterially to fo r the p recedin g year.
th e car equipm ent, con stru ct and re-lay n ew tracks and Passengers C arried...............................................................164,407,446
also to provide car-barns at H om ew ood , Sharpsburg, Car M ileage............................................................................. 33,577.214 Miles.
Earnings per oar m ile .........................................................
24 65 Cents.
M cK ees R ocks, W ilm erd in g and M ount O liver to house th e |
14-33 “
| Expenses per car m ile (inoluding T a x es)....................
n ew ca r equipm ent.
I N et Earnings per ca r m i le ..............................................
10-32 *•

1092
J J I xjc

rHE
® 0 m

m

e m

a l

CHRONICLE

[VOL. L X X V I .

C O T T O N ,

J J x x ix j c s *

F r id a y N i g h t , May 15, 1903.
X us M o v h m r n t o p t h b C r o p , as in d ica te d b y ou r telegrams
from th e South to -n ig h t, is g iv e n b elow , F or the week ending
F r i d a y Night, May 15, 1908.
this evening the to t a l re ce ip ts have reached 58,615 bales,
In some lines of trade there has been a setback to the against 6 8 515 bales last w eek and 82,785 bales the previous
business activity due to the labor troubles, w hich have had a week, m aking the to ta l reoelpts sin ce the 1st o f Sept., 1902,
7,431,999 bales, a gain st 7,237,099 bales fo r th e same period of
tendency to create a temporary uneasiness, at least am ong 1901-2, sh ow in g an increase sin ce S ep ,1,1902, o f 194,900 bales.
some trades.
Business in the cotton goods trade has
Htteeipis atSat
Mon. fu ss. Wed. fhurs. Fri.
la ia l.
been unfavorably influenced by the wild speculation and
B
slvestou
,....
2,403
2,620
6,214
2,593
2,603
1,843
18,276
sensational advances in the price o f . cotton. M anufacturers
Bab. Pass, * a . . . . . .
........
........ 1,133
......
......
1,138
claim to be unable to obtain an advance in the prices for New Orleans
4,285 2,720 5,355 3,733 3.435 1,713 21,211
their goods to offset the increased cost o f the raw material, Mobile___ . . . .
658
758
31
12
19
5
1,486
and curtailment o f production is being practiced. N otw ith ­ Pensacola, &a. ........
......
......
1,726
......
1,726
107 1,195 2,094
623
488
87
4,594
standing reports to the contrary, an active condition o f busi­ Savan nah......
,DMB, . . . . . .
......
Branew’k.cto
683
......
683
ness continues in the markets for finished iron and steel, and
Charleston... .
......
......
......
7
1
33
41
at steady to firm prices. Complaints o f dry weather have
. .. . ..
Pt. Royal,&c
••obmc
. .. . ..
......
......
been received from the Middle A tlan tic and Pacific Coast Wilmington....
1
7
5
6
35
54
........
......
Wash’ton.&a —o... . . . . . .
......
States, but in other sections o f the country weather con d i­
......
N orfolk_____ 1,139
388 2,263
445
6,053
552 1,265
tions have been generally favorable for the grow in g crops.
......
......
......
......
279
279
Lard on the spot has been offered at low er prices and at SPpMi Hews, e . . . . . .
104
55
New Y o r k ...,
325
361
845
the decline the demand has im proved, exporters being B oston... . . . . .
73
133
350
36
97
3
8
moderate buyers, especially of city lard. The close was Baltim ore... .
........
......
......
869
869
co.ae.
1,011
156
105
228
26
496
steady at 9-35c. for prime W estern and 8,25@8*50c. for prime Phlladel’ a, * « .
city. Refined lard has had only a lim ited sale and prices Tot.this week 8,996 7,881 16,229 7,867 7,106 10,536 58,615
have continued to sag. The close was at 9-55c. for refined fo r
The follow in g shows the week’s total receipts, the total since
the Continent. Speculation in lard fo r future delivery has Sept. 1,1902, and the stocks to-night, com pared w ith last year,
been moderately active and prices have held about steady.
1902-03.
Sioeh.
A favorable developm ent has been an im provem ent in the
1901-02.
Receipts to
export demand for cash lard. The close was steadier.
This Since Sep. fS ii Since Sep.

COMMERCIAL

EPITOME.

May 15,

DAILY CLOSING PBIOBB OV LARD VDTCBES IN CHICAGO,

Wed,
v
Sat Mon
Tfturt.
Tuts.
8-821* 8-85
8-80
May del’y.............. 8-87i* 8 80
8-871* 88-871*
921*
8921*
July defy ________ 9-00
8-90
September del’v-.. 9*07i* 8-971* 98'97i*
CO

fr i.
8-85
8-95
9-00

tettk.

1,1902.

wee??,.

1,1901.

Galveston... 18,276 2,063,967 10,339 2,009,399
Sab. P.,*c 1,138 148,747 3,692
85,234
NewOrleam 21,211 2,197,281 18,697 2,179,046
372 151,043
Mobile____ 1,486 208,562
P’saoola, Ac 1,726 154,702
216,182
Savannah... 4,594 1,281,129 4,691 1,093,869
688 129,800
Br’wlok, Ac.
134,267
41 209,135
Oharleeton..
172 262,674
334
3
P.Boyal.Ae
1,556
54 329,210
WilmlngtOB
188 274,762
387
Wash’n, Ac.
382
Norfolk...... 6,052 493,371 3,650 442,055
22,325
279
29
85,033
JPport N.,Ae
30,884
845
793 109,458
New York,..
95,614
350
127 117,824
Boston.......
869
41,356
2,386
94,075
Baltimore..
25,245
1,155
30,740
Philadel.Ae. 1,011

1903.

1902.

33,588

50,952

83,316

165,085

P ork in the local market has been weak and low er, closing
2,026
9,662
at |18@18 50 for mess, $18 75@19 25 for fam ily and $18 25@
20 00 for short clear. Beef has had a fair sale at easier
12,414
30,747
prices, closing at $9 fo r mess, $10@10 50 for packet, $12@
4,452
12 50 for fam ily and §17@17 50 fo r extra India mess in tcs.
2,753
1,898
Cut meats have been in good demand at steady prices, clos­
ing at 9c. for pickled shoulders,
for pickled hams
5,685
6,169
and 9)^@10c. for pickled bellies, 14@10 lbs. average. Tallow
has been quiet and easv at 5J^c. Stearines have been quiet
9,156
28,734
and easier, closing at lOJ^c. fo r lard stearine and 8% @ 9c.
40
196
fo r oleo stearine. Cotton-seed oil has been quiet and easier,
131,124 184,676
closing at 42%@43c. for prime yellow . Batter has been in
20,000
21,000
active demand and firm, closing at 18@22%c. for creamery.
9,632
1,988
Cheese has had a fair sale at steady prices, closing at 93^@
3,303
3,302
12c. for new and 13@15c. fo r old State factory, fu ll cream.
Fresh eggs have been in fu ll supply and easier, closing at
Totals...... 58,615 7,431.999 46,289 7.237,099 309.795 512.053
1 6 ^ @ 17c. for best grades o f W estern.
In ord er th a t com parison m ay De m ade w ith o th e r years,
Brazil grades o f coffee have continued to drag. The trade
demand has been flat, buyers holding off aw aiting develop­ we g iv e b elow th e tota ls at le a d in g p orts fo r six seasons.
ments ow ing to heavy stocks on hand and expected early Ueeeipts at— 1903.
1902.
1901.
1900.
1899.
1898.
movement of new crop. The close was cu ll at 5J£c. for R io
961
8,137
No. 7 and 6 @ 6 igC. for Santos No, 4. W est India growths Galves’n.Ac. 20,289 14,031 20,653 19,704
11,502
have been quiet, demand being checked by expected freer New Orleans 21,211
15,073
18,697 16,557
14,203
arrivals, closing at 8% @ 9c. for good Cucuta, East India M obile........
1,486
372
993
1,023
736
438
growths have been quiet. Speculation in the market for Savannah...
3,172
4,594
7,329
4,691
8,047
1,113
contracts has been quiet and prices have been without im ­ Ohaa’ton, Ac.
33
175
436
471
161
2,137
portant changes. The close was dull, Follow ing are the Wilm’ton, Ac
53
54
811
183
1,160
40
closing asked prices:
6,052
3,803
6,532
6,308
3,650
1,435
Norfolk____
M a y ............. 3-80e. i Sept___ 4-15o.
4'65c.
D eo._____
July____ 3-95a J O c t ............. .............. . 4 25o. J a n ................. 4*75c.
A ugust........... 4’05o. ; Nov______. . . . . 4-300. March.............. 4-85o.

N. News, Ac.
Ail oth ers...

287
4,609

29
4,461

794
7,671

408
4,950

655
19,023

168
12,325

R aw sugars have been in active demand, refiners being
free buyers at firm prices, closing at 3 ll-16c. for centrifugals,
96 deg. test, and 3 3-16c. fo r m uscovado, 89 deg. test. Refined
sugar has had a large sale and prices have advanced 5 points
to 4*55@5‘05c. for granulated. Teas, spices and lic e have been
firm.
Only a limited amount o f business has been transacted in
Kentucky tobacco. Spot stocks are m oderately large, but
there has been no pressure to sell, and prices have held
steady. Seed leaf tobacco has been in slightly better de­
mand. Sales for the week include 200 cases 1901 crop Penn,
broad leaf at 12c.; 150 cases 1901 crop W isconsin Havana seed
binders at 15c.; 75 cases 1901 crop W isconsin Havana Bs at
11c., and 100 cases 1900 crop Onondaga Bs, resweated, at 12c.
Foreign grades of tobacco have been fairly active and firm.
Business in the market for Straits tin has been quiet and
prices have declined. The close was steadier at 29-623£@29*75c.
Ingot copper has been quiet and unchanged at 14*75@15-00c.
for Lake. Lead has been in moderate demand and steady at
4-373£c for domestic. Spelter has been unchanged at 5-75c.
P ig iron has been easier, closing at $20 75@21 fo r N o. 1
Northern.
Refined petroleum has advanced, closing at 8*55c. in bbls.,
10*50c. in cases and 5*65c. in bulk. Naphtha has been firm
at ll*20c. Credit balances have been steady, closing at $1 53.
Spirits turpentine has been in moderate demand and firmer,
closing at 49^@ 50c. Rosins have been fairly active and firm
at $2@2 05 for com m on and good strained. Hops have been
in better demand and firmer. W o o l has had a fair sale at
firm prices.

got. this wk.

58,615

46,289

59,007

43,572

59,949

36,454

Since Sept. 1 7431,999 7237,093 6984,786 6304,695 8X17,136 8401.011

The exports for the week ending this evening reach a total
of 67,293 bales, o f which 16,985 were to Great Britain, 16,444
to France and 33,884 to the rest o f the Continent. B elow
are the exports for the week and since Sept, 1, 1902.
E x p erts
rr e m —

W eek B n d in y M a y 15,1903.
E x p o r te d to —

Crest
B r it’n .

Galveston......
Sab. Pass. Ac..
New Orleans..
Mobile............
Pensacola......
Savannah-....
Brunswick....
Charleston....
Port R oy a l....
Wilmington...

Baltimore ....
Philadelphia..

n e n t.

........

........

3,001

9.815 11,499

875

........
........
........
........

2,071
966
198
2,181

1,154

325
8,313

680,100
33.758
007,842
48,897
88.463
105,941
101,835
15,560

........
........

........

........

........

159

3,166

........

........

±12
163

16,965

1,200
9,467

......

San Fran., A c -

Total...........

S rta l
fr a n it
W e e k . 3r<t*in.

........

324

N’port N., Ac..
New Y ork......

le t * 1
f r s s i i C o n ti­

8,670 18,130 11,690 32,490
1,650

F ro m S ep t. 1,1903, to M a y 15,1008.
E x p o r te d to —

324
5,393
906
610
2,181
163

822,786
329,870
12,438
50,504

Conti­
nent.

l i t * t.

600.577 1,603,493
76,232 109,990
728,992 1,966,704
55,476 104 373
02,861 148,762
742,218 983,723
6,860 108,665
88,528 104,083

........

3.242
133.702
13,402 13.485
965
10,328
236,441 14,839
137,923
6,000
70.492
88,342
33,161

182.433
14,084
750
188,857
5,167
84,726
8,086
127,767

319,877
40,921
12,043
435,137
143,090
110,217
40,428
162,028

19,444 33,884 67.203 8.738,187 758,189 2,912,553 6,393,934

T o ta l 1901-02— 26,458 11,574

43,230

81,288 2,987.790 693,716 8,478,615 6,110,121

THE CHRONICLE

M a y 1G, 1908. J

In a d d ition t o a b o v e e x p o r ta ,o u r te le g ra m s to -n ig h t also
give as th e fo llo w in g a m o u n ts o f o o tto n on sh ip b oa rd , not
aleared, at th e p orts n a m ed . W e add sim ila r fig u re s for
Hew Y o rk , w h ioh are prep ared fo r ou r sp ecia l use b y Messrs.
L&mbert & B a r r o w s .P r o d u o e E x o h a n g e B u ild in g .

IfU T U B B a.—

Ger­ Other Coast­
Orcat
Britain f r ’nce many. Bor’gn wise.

g
2 0 {d^ 0 M'
9»
©s E o S g o g l
£35®
E
Jwj*
■ (*.
!

2,585 11,418
3,635 3,584

1,354
2,204

6,583

36,728

273,067

21,272 22,138 15,691 17,480 10,368
13,425 11,405 29,727 21,236 9,637

86,944
85,430

425,109
434,643

Total 1903..

6,193

_______ . ___
_
_
_
__

_____

356
1,500

550
.........

500
1,680

20,219
10,578

................

......

_____

6,720 15,552

s : i] i
(x

........

1,680

•MX;

C 2h? 9 I

: I

25
500
2,500
906
2,000

3,182
1,155

S

►

stock.

Total.

63,097
22,960
12,414
2,728
1,526
6,656
130,218
33,468

New Orleans.
Galveston.. ..
Savannah....
Charleston. ..
Mobile............
Norfolk..........
New Y ork—
Other p o r ts .

H ig h est, lo w e st and c lo s in g p rice s at N ew Y ork .

>

ON S H IP B O A R D . N O T C L E A R E D F O R —

May 15 at—

1093

25
500
2,500

00

11 11 11
1
1
1
1
00
11
11

; Wa* ;

•w .

I

i: {

/5

aoc

$

«

a

$

-107
©CJ

Speculation in cotton for future delivery has been unusually
active, the trading at tim es being accom panied by m uch e x ­
citem ent. F lu ctu ations in prices have been violent, w ith the
tendency tow ards a m uch higher basis, May delivery on
Thursday selling at 11'44c. and Ju ly d elivery > t 11c. T he
feature has been a w ild scram ble b y shorts to cover their c o n ­
tracts. Various reports have been current as to w h o repre­
sented the short interest.
A cco rd in g to w ell in form ed
houses, speculative W a ll Street interests were the principal
sufferers on the bear side o f the market. F oreign interests
also have been reported as active buyers, coverin g their
hedges against cotton held abroad. The New Orleans bull
cliqu e has been reported aggressive, and their operations
have added to the bu oyancy o f the m arket. T h e cable
advices from L iverp ool have favored the b u ll interests, they
reporting an active dem and fo r spot cotton , understood to be
principally fo r the Continent, where it was supposed that
spinners had their requirem ents o f A m erican cotton fo r th e
rem ainder o f the season p ra ctica lly supplied. T he m o v e ­
m ent o f the crop for the week has been fu ll, bu t it i 3 claim ed
that a considerable percentage o f the cotton n ow being r e ­
ceived is below con tra ct grade. T he new cro p d eliveries
have received Increased attention fro m buyers attracted by
the relatively lo w prices at w h ich th ey are selling and the
theory that a record-break in g crop w ill have to be grow n to
produce a surplus o f cotton sufficient to m aterially influence
values. T o-d ay the opening was sligh tly easier, in sym pathy
w ith w eaker L iverp ool advices, and the m arket d eclined
under selling o f M ay by the loca l b u ll clique. W ith the sub­
sidence o f this selling there was a partial recovery. T ow ard
the close there was renewed selling and final prices show ed
a loss for the day fo r this crop o f 15@28 points. N ex t-crop
deliveries w ere 5@11 points low er fo r the day. C otton on the
spot has advanced, closin g at 11'50c. fo r m iddlin g uplands.
On the basis o f th e rates on and o ff m id d lin g as established
b y the R evision C om m ittee, the prices fo r a fe w o f the
grades w ou ld be as follow s:
UPLANDS.

S a t.

Good O rdinary.. „ ™ ____ . . .
Low M i d d l i n g . . . . — . . . . . . .
Middling.......... . ................
Good M id d lin g .....____
Middling F a ir..................... .
GULF.

10-15
1011- 15
1112S at.

Good O rdinary.___________. . . .
Low M iddling..,.,. — - . . . . ___
M iddling...............................
Good M iddling... . . . . . . . . . . . . . .
Middling Fair................. . . . . . .

10- 40
1102
11- 40
1112-

M o n T n e s W e d T il.

F r l.

1011-92
11-55
11-99
74
1Z-51
26

10 55
60
11-22
17
11-60
12 04
12-56

10 50
11-12
11 50
11 91
12 46

M o n IT ties W e d

T il.

F r l.

10-30
10-77
11- 30
11-59
12-11
101111-55
11-84
12-51
36

10-30
10-92
11- 30
11-74
12-26
10-55
11-17
11 55
11-99
12-

10 80
55
11-42
17
11 so
1*2*24
99
12 76
51

10- 85
11-47
11- 85
1212-29
19
12-81 12-71
1011-

11-

T il .

F r l.

9-65 9-80 9-80 10*05 10*10
Low M iddlin g.™ ___ __. . . .
Middling....................... ............. 10 65 10-80 10-80 11 05 11*10
96 11*21 11*26
10-86
Strict Low Middling Tinged... 10 81 1011-30
30 11-55 11-60
Good Middling Tinged.......... . 11-15 11-

10 00
11 00
11-16
11-50

STAINED,

Sat.

M on T ueg W e d

The q u otation s fo r m id d lin g u plan d a t N ew Y o r k on
May 15 for e a ch o f th e past 82 years h a ve been as follow s.
1 9 0 3 . . . . o . 1 1 -5 0
1902.
1 9 0 1 . ......... 8 l i «
1 9 0 0 . ......... 913m
1899.
1898.
1 8 9 7 . ......... 778
1 8 9 6 . ......... 81*

1 8 9 5 . . . . 0 6 i3 ie
1 8 0 4 . . . . . . 7^4
1 8 9 3 . . . . . . 71316
1 8 9 2 . . . . . . 714
1 8 9 1 . ™ . . 8 7S
1 8 9 0 . . . . . 1 U °1 6
1 8 8 9 ...... H h e
1 8 8 8 . ___... 1 0

1887. ...0 .1 0 78
1886.
1885.
1884. .....11»16
1383. .......l i b s
1882.
1881.
1880. .....1 1 1 3 16

1879.. ..0.1288
1878..
1877..
1876.. ....12 8j8
1875..
1874..
1873..
1872..

M A B K E T A N D SALES.
T h e t o t a ls a le s o f o o tto n on th e s p o t e a o h d a y d u rin g the
w eek are in d ica te d in th e f o l lo w in g s ta te m e n t.
F or the
con venien ce o f th e rea d er w e a ls o a d d o o lu m n s w h io h show
at a glanoe h o w th e m a r k e t f o r s p o ts a n d futures c lo s e d on
same days.
S f o t Ma r k e t
Clo sed .

F utures
Market
Cl o s e d .

Saturday.. D o ll.......................... F ir m ___ _____
M onday.... Q uiet, 1 5 pta. ad. S t e a d y ..........
T u esda y... Q u ie t....................... B ’ r ly ste a d y .
Wednesday Q u iet, 2 5 p ts. ad. F ir m ................
Thursday.. Q u iet, 5 p ts . ad v . V e r y s te a d y .
F riday___ Q u iet, 1 0 p ts . do. S t e a d y ...........
Total___

Sa l e s

of

Ex­
port.

Sp o t A O o w t k a g j

Oon- Con­
sump. tract. Sotal
264

••••

—

6 ,7 0 0
1 ,5 0 0
1 ,3 0 0
5 ,8 0 0
5 ,2 0 0

264
6 ,7 0 0
1 ,6 0 0
1 ,3 0 0
5 ,8 0 0
5 ,2 0 0

2 6 4 2 0 .5 0 0 2 0 ,7 6 4

i

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Total 1902..
Total 1901..

I« ® H S'*
N • IN '

1
<0 00
0 1
10 10 10
1 00 0000
►0
00
0
00 0000
00
1 11
11
0
00
01-4 1
1
.
0
0 1
1
0
1
0
1
1
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1
1
1
1
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0*4

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—5
3
.

s

. r
' it*
ip
*

T h e V isib l e s u p p l y o f C otton to -n ig h t , as m ad e up by
oable and telegraph , is as fo llo w s . F oreign sto ck s, as w ell
as th e afloat, are th is w e e k ’ s returns, and con seq u en tly all
foreign figures are b r o u g h t d o w n to Thursday even in g,
But to m a k e th e t o t a l th e c o m p le te figures f o r to-n igh t
(May 15), we add the item o f e x p o rts fr o m the U n ited States,
u clu d in g in it th e e x p o r ts o f F riday o n ly ,
1903.
1903.
1901.
1900.
3 lock at Liverpool.^,toshes. 645,0001,013,000 735,000 625,000
3sock at London___ ________
8,000
8 .0 0 0
8,000
4 ,0 0 0
Total Great Britain stock. 653,000 1,021,000 743.000 629,0041
lock at H am burg....,_______
17,000
2 0 ,0 0 0
--------17,000
16,000
Itook at B rem en______
286,000 157,000 231.000 326.000
■isock at Am sterdam ..„
......
1 ,0 0 0
200
itook at R otterdam .......... .......................
200
took at A n tw e r p ........
4,000
6 ,0 0 0
5.000
3.000
itook at H a v re-..... . . . . . . .
192,000 139,000 179,000 196.000
4,000
itook at M arseilles.........
3,000
3.000
3.000
32.000
47.000
- i t o c k a t B a r o e l o n a . 35,000
48.000
itook at Genoa......................„
27,000
43.000
63.000
2 1 .0 0 0
75 at Trieste....... .
itook
12,000
3.000
1 1 .0 0 0
4.000
37
75Total Continental otooks.. 578,000 443,000 526,200 659,200
Tetal European stooks.™ 1,229,000 1,464,000 1,269,200 1 ,2 8 8 ,2 0 0
mdia ootton afloat fo r Europe 160.000 121,000
112,000
43,000
A m er.cotton afioatforE ’rope. 235.000 210,000
314,000 189,000
S3«rypt,Brazll,&o.,afl6.for E’pe
28,000 48,000
12,000
17,000
Steokln Alexandria, E g y p t...
73,000 135,000 177,000 131,000
:5teok In Bombay, India........ 726,000
561,000 585,000 324,000
Stookln United States p orts.. 309,795 512,053 520,073 333,368
Stock in U -8. Interior tow n s.. 112,998 212,869 434,947 187,053
United States exports to-day.. 13,302
21,889
12,751
4,253
Total visible supply ...^ .2 ,8 8 6 ,0 9 5 3,285,811 3,436,971 2,516,874
Of the above, totals of Amerloan and other descriptions are as fo llo w s:
Am erican—
L iv erp oolstock .™ . _ _ b a le s .
560,000 894,000 608,000 519,000
Continental stocks.__ _____ . ..
511,000 402,000 459,000 631,000
Amerloan afloat for E u rope...
235,000 210,000 314,000 139,000
United States S t o c k ....... . . . . .
309,795 512,053 520,073 333,368
United States interior stooks.
112,998 212,869 434,947 187,053
United States exports to-day.. 13,302
21,889
12,751
4,253
Total Am erican.......... .......1,742,095 2,252,811 2,348,771 1,863,674
m
u iIn
n odian
v a n ,, Brasil,
jo r a n r i Ac.—
Mast
85.000 119,000
127,000 106,000
Liverpool s t o c k .......
8.000
8,000
8,000
4,000
London stock.... .......................
65.000
41,000
67,200
28,200
Continental s n o o k s ..... . . . . . . .
112,000
43,000
India afloat for E u rope. . . . . . . 180.000 121.000
28.000
48,COO
12,000
17,000
Sgypt, Brazil, Ao.. afloat____
72.000 135,000
177,000 131,000
Stock in Alexandria, E g y p t...
585,000 324,000
Stock in Bombay, I n d ia ....... 726.000 561,000
Total East India, AC. . . . . . . 1,144,000 1,033,000 1,088,200 653,200
Total Amerloan..................1,742,095 2,252,811 2,348,771 1,863,674
Total visible s u p p ly ..™ « 2 ,886.095 3,285,811 8,436.971 2,516,874
5Q<J.
8-16d.
Middling Upland, L iverpool..
5i3 2d.
411321.
9\e.
9is o.
8 1 ,8 0 .
Middling Upland, Now Y ork.. 11-500.
6 i 618 d.
Egypt Good Brown, Liverpool
6381.
99jed'
7d.
8 -eod.
7i8d.
Pern r. Bough Good, Liverpool
71k i :
413, «d.
53sd.
6 ifid.
438d.
Broach Vine, Liverpool_____
rinnevelly Good, L iverpool...
5i*d.
53lad.
478<1.
4iied.

‘ C ontinental im ports past w eek have been 34,000 bales.
The above figures fo r 1903 show a decrease fro m last w eek
o f 129.069 bales, a loss o f 399,716 bales from 1902, a decrease o f
550,876 bales from 1901 and a gain o f 369,221 bales ov er 1900.

THE CHRONICLE

1094

A t t h e I n t e r io r T o w n s the m ovem en t— th at is the receipts
for the w eek and since Septem ber 1, the shipm ents fo r th e
w eek and the stocks to-night, and the same item s fo r th e
corresponding period o f 1901-02— is set ou t in detail b elow .

T ota l

E u fa u la .
A labam a...
M o n tg o m e ry ,
“
S e lm a ,
“
H e le n a ,
A h k a n b a b ..
L ittle R o o k ,
“
A lb a n y ,
G e o r g ia . . .
A th e n s ,
“
A tla n ta ,
“
A u g u sta ,
“
O o ln m b n s ,
“
M aoon,
“
R om e,
“
L o u i s v l lle ,n e < K E N T U C K T ..
S h r e v e p o r t , L o u i s i a n a ..
C o lu m b u s ,
M is s i s s ip p i .
G r e e n v ille ,
“
M e r id ia n ,
“
N a tch e z ,
“
V ic k s b u r g ,
“
Y a z o o C it y ,
“
S t. L o u i s ,
M is s o u r i. . .
C h a r lo tte ,
N . C a r o l in a
R a le ig h ,
“
C in c in n a ti,
O h i o .............
G r e e n w o o d , 8 . Ca r o l in a .
M e m p h is ,
T e n n essee. .
N a s h v ille ,
“
B ren h am ,
T e x a s .........
D a lla s ,
“
H ou ston ,
“
P a r is ,
“

31 towns ..........
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Movement to May 16, 1902.

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N3

T he above totals show that the in terior stock s have de­
creased du rin g the w eek 25,747 bales, and are to-n ig h t 99,871
bales less than same period last year. The receipts at all th e
tow ns have been 21,566 bales more than same w eek last y ea r.
Ov e r l a n d Movem ent

fob th e

W

eek and

S in c e S e p t . l . ~

W e g iv e b elow a statem ent sh o w in g th e o v e rla n d m ovem ent
for the w eek and sin ce Sept. 1, as m ade np fr o m teleg ra p h ic
reports F riday n ig h t,
T h e resu lts f o r the w eek ending
May 15 and sin ce Sept. 1 in the last tw o years are as follow s
190S-03.
May 15.
Shipped—
Via St. Louis..................................
Via Cairo........................................
Via Paducah........... . .....................
Via Rook I s la n d ......................
Via Louisville................................
Via Cincinnati........ ....................
Via other routes, &o...................
Total gross overland................
Deduct shipments—
Overland to N. Y., Boston, A o..
Between Interior towns...........
Inland, Ac., from S o u th .........

Week.
6,395
1,152
7
2,281
529
2.287

Since
1.
712,894
203,120
2,098
29,550
150,012
35,332
252,612

1901-02
Week.
7,140
1,857
435
1,406
358
1,208

eh***
Slant 1
780,452
143,204
1,192
33,093
187,703
88,852
337,444

12,651 1,385,618 12,406 1,571,940
351,597
62,187
53.172

3,075
264
1,769

193,049
44.275
54.565

4,461
5
536

Total to he deducted................

5.108

291,889]

5,002] 466,956

Leaving total net overland—

7.543 ;1,093,729

7,404ll,ie4,984

Tha fo reg oin g show s that che week's net o v e rla n d m ovem ent
this year has been 7,543 bales, a ga in st 7,404 bales fo r the
w eek in 1902, and th at fo r the season t o date th e aggrega te net
overland ex h ib its a decrease from a y e a r a g o o f 11,255 bales.
In Bight and 8pinnere
Takings.

1902-03
Week.

Since
Sept. l .

1901-02.
ir««k.

Since
kept. 1.

Receipts at ports to May 15.......... 58,615 7.431.999 46,289 7,237,099
7,543 1,093,729 7,404 l,li>4,984
Net overland to May 1 5..................
Southern consumption to May 15. 41.000 1,492,000 37,000 1,323,000
Total marketed....................... . 107,158 10017728 90,693 9,665,083
Interior stocks in excess................ *25,747
49,920*25,714
83.604
Came Into sight during week..
Total In sight May 15...............

81,411

10067648

64,979
9,748,68?

Horth’n spinners’ tak*gs to May 15 15,357 2,004,309 22,819 1,956,066
* Decrease during week.

M ovem ent in to sight in previous years,
Week—
1901-M ay
1900—May
1899-M ay
1898-M ay

Bales.
Since Bept. 1—
Balet.
17.................... 89,426 1 9 00 -01-May 17.......... 9,535,759
18.................... 64,499 1 8 99 -00-May 18......... 8,565.117
19.................... 79,360 1898-99-M ay 19.......... 10,539,801
20....................... 37,018 1897-98—May 20---------10,563,183

fob

M id d l in g C o tto n

at

O t h e r M a r k e t s ,—

Below are closin g quotations o f m id d lin g co tto n at S outhern
and other prinoipal ootton m arkets for eaoh day o f the w eek ,
Week ending
May 15.

0

zr.
<x

Q u o t a t io n s

[VOL. L X X V I .

c l o s in g q u o t a t i o n s f o b

Satur.

Galveston... 103a
New Orleans 1078
M obile........ 10%
Savannah... 103g
Charleston.. 10%
Wilmington. 10
Norfolk. . . . . 105g
Boston........ 1115
Baltimore. . 11
Philadelphia 11-40
Augusta___ 11
Memphis___ 10%
8t. Louis__ 10%
H ouston___ 10%
Cincinnati.. 10%
Little Rook. ........

m id d l in g c o t t o n o n —

Mon.

luce.

Wednct.

Thun.

10%
libs
10%
10%
10%
10
10%
11-15
11%
11-55
11
10%
107,6
10%
10%
........

10%
ni«
10 %
10%
10%
10
101318
11-30
11%
11-55
11%
10%
10%
10%
10%
10%

101616
11%
10%
10%
10%
10
10l3r#
11-30
11%
11-80
11%
10%
10%
10%
10%
10%

11%
11%
10 %
10 %
10 %
10 %
11

11-55
11%
11-85
11%
107e
1078
11
10%
10%

Fri.
11%
1138
10%
1078
10%
10%
11
11-60
11%
11-75
11%
1078
11
11%
10%
10%

The d o s in g quotations to-d a y (F rid ay) at other im p ortan t
Southern m arkets w ere as follow s,
A then s........... n
A tla n ta .......... 1 1 %
Charlotte........ 11%
Columbus. Ga. 10%

I Columbus, Miss 10%
I Eufanla_____ _ 11
j Lou isville....... 1 0 %
I M ontgom ery... 10%

Nashville........
N atchez........
R aleigh ...........
S h revoport....

10%
H 3 le
U
10*8

N e w O r l e a n s O p t io n M a r k e t .— The highest, low est and
d o sin g quotations for leading options in the N ew O rleans
cotton m arket the past w eek have been as follow s.
Sat’day.
May 9
Mat—
R a n g e ____
C lo s in g ...
JU LT—
R a n g e....
C lo s in g ...
A ugust—
R a n g e ____
C lo s in g ...
Octo ber—
R a n g e ....
C l o s i n g ..
D e c ’b e b —
R a n g e ____
C lo s in g ...

Monday, Tuesday, Wed’day, Thurtd’y Friday,
May 1 1 . May 1 2 . May 1 3 May 1 4 May 1 5 .

1 1 0 3 3 - 1 3 1 1 - 2 1 ® 32 1 1 -2 4 ® 35 1 1 -2 5 8 -4 6 1 1 -5 9 ® 65 l l - 5 0 ® - 6 0
1 1 -1 0 3 -1 1 1 1 -3 1 ® 32 1 1 2 6 ® 1 1 -4 0 ® — 1 1 5 4 ® — 1 1 5 5 ® 60
1 0 97 ® 43 11■48 ® ■80 1 1 - 4 1 ® 70 1 1 -5 2 ® -8 0 1 1 -8 9 ® 10 1 1 80 ® 02
1 1 4 3 ® 44 1 1 -6 5 3 -6 6 1 1 -5 0 ® 51 1 1 -7 9 3 -8 0 1 2 -0 4 ® 05 11 -85 ® ' 86
1 0 -5 5 ® -7 3 1 0 68 ® 94 1 0 -6 4 ® 97 1 0 - 7 3 ® 16 1 1 -2 1 ® 50 1 1 2 6 ® 41
1 0 -6 8 ® 69 1 0 -9 1 ® 9 2 1 0 -6 8 ® 69 1 1 -1 1 ® 12 1 1 45 ® 46 11 2 9 ® 30
8 -6 7 -® -7 1 8 - 7 0 ® - 9 1 8 7 0 ® 9 2 8 7 4 ® ’ 9 0 8 - S 5 ® - 9 6 8 - 8 3 ® - 9 0
8 - 7 0 ® - 7 1 8 - 8 7 ® 8 8 8 - 7 2 ® 7 3 8 8 9 ® - 9 0 8 * 9 0 ® '9 1 8 - 8 5 ® - 8 6
8 -5 4 ® 5 9 3 -6 0 & -7 9 8 -5 8 ® -7 f- 3 -6 < ® -7 8 8 -7 1 ® -8 2 8 - 6 8 W 7 4
8 '5 8 ® " 5 9 8 - 7 4 ® - 7 5 8 58W59 8 - 7 7 ® - 7 8 8 - 7 5 ® - 7 6 8-71®-72

T one—
Spots....... Firm.
Options... Steady

Firm.
Firm. lrregul’r Irregul’ r Dull.
8teady. B’rly st’y Finn. Feverish B’rly st’ y

W e a t h e r R e p o r t s b y T e l e g r a p h . — Our telegraphic ad ­
vices from the South this evening indicate that the w eather
in the main has been favorable during the week. P lan tin g
has been finished or is nearing com pletion generally, and
beneficial rains have fallen in m any localities. There are
still some com plaints o f c o d weather at night, and our A la ­
bama correspondents state that the rainfall in that State
has been too heavy.
Galveston, Texas,— W e have had rain on three days du rin g
the w eek, the rainfall being th irty-eigh t hundredths o f an
inch. The therm om eter has ranged from 56 to 82, averag­
ing 6 8 .
Abilene, T exas,— It has rained on tw o days o f the week,
the rainfall being one inoh and tw en ty hundredths. A verage
therm om eter 6 6 , highest 80, low est 52.
Brenham, Texas.—W e have had rain on tw o days o f
the week, the precipitation reach in g eighty hundredths o f an
inch. The therm om eter has averaged 70, the highest being
85 and the low est 55.
Corpus Christi, T exas,—Rain has fallen on one day o f the
w eek, to the extent o f tw o inches and sixteen hundredths.
The therm om eter has averaged 73, ranging from 60 to 8 6 ,
Cuero, T exas.— Rain has fallen on tw o days during the
week, the rainfall being seventy-three hundredths o f an Inch,
The therm om eter has ranged from 57 to 8 8 , averaging 73.
Dallas, Texas.— Rain has fallen on three days o f the week,
the rainfall reaching eig h ty -tw o hundredths o f an inch.
A verage therm om eter 6 8 , highest 84, low est 52.
H en rietta , T exas.—W e have had rain on one day d arin g
the week, to the extent o f one inch and fourteen hundredths.
The therm om eter has averaged 6 6 , the highest being 83 and
the low est 49.
Huntsville, T exas.—W e have had rain on tw o days the
past week, the rainfall being tw enty-seven hundredths o f an
inch. The therm om eter has averaged 75, ranging from 60
to 91.
K errville, Texas.— There has been rain on one day during
the week, the precipitation being thirty-seven hundredths o f
an inch. Therm om eter has ranged from 49 to 82, averag­
ing 6 6 .
Lampasas, T exa s.—R ain fall for the w eek fifty-six h u n ­
dredths o f an inch, on tw o days. A verage therm om eter 6 8 ,
highest 8 6 , low est 49.
Longview, Texas.— There has been rain on tw o days o f the
week, the rainfall being one inch and sixty-seven hundredths.
The therm om eter has averaged 67, the highest being 82 and
the low est 52.
Luling, Texas.— It has rained on one day o f the w eek. T he
precipitation reached tw o hundredths o f an inch. The
therm om eter has averaged 69, ranging fro m 53 to 8 6 .
Palestine, T exas.— Rain has fallen on three days during
the week, the rainfall reach in g sixty-eight hundredths o f an
inch. The therm om eter has ranged from 52 to 78, averag ­
ing 65.

THE CHRONICLE

P aris, T exas.— It has rained on tw o daya o f the w eek, the
rainfall being tw enty-three hundredths o f an inch. A verage
therm om eter 06, highest 82 low est 50.
San A ntonio, T exas.— Rain has fallen on tw o days o f the
week, the precipitation being one inch and tw enty hundredths.
The therm om eter has averaged 72, the highest being 86 and
the lowest 58.
W eatherford, T exas.—T here has been rain on tw o days o f
the past week, the rainfall reaching sixty-five hundredths o f
an inch. The therm om eter has averaged 70, ranging from
54 to 85.
New Orleans, L ouisian a.—There has been rain on one day
duriDg the week, the precipitation being seventeen hun­
dredths o f an inch. T he therm om eter has averaged 70.
Shreveport, L ouisian a.— Rain has fallen on five days o f the
week, the rainfall being eighty-tw o hundredths o f an inch.
A verage therm om eter 64, highest 77, low est 62.
Columbus, M ississippi.— W e have bad rain on three days of
the week, the rainfall reaching tw enty eight hundredths o f
an it c h . The therifacmeter has averaged 63, the highest
being 65 and the low est 41,
Vicksburg, M ississippi.— Rain has fallen on fo u r days o f
the week, the precipitation being one inch and forty-eight
hundredths. The therm om eter has ranged from 57 to 77,
averaging 67.
Greenville, M ississippi.— T he weather is rainy now .
L ittle Rock, A rkansas.—P lanting is finished and a g ood
stand is reported generally. W e have had rain on fou r days
during the week, the precipitation reaching one in ch and six
hundredths. The therm om eter has averaged 66, the highest
being 75 and the low est 56.
Helena, A rkansas.— The past ten days o f clou d y and rainy
weather have brought up seed planted a m onth ago. Pros
pects for stand are tolerablv good, but eome farm ers have
not yet finished plow in g. Lands form erly overflow ed w ill
soon be planted w ith crops. Rain has fallen on six days o f
the week. The therm om eter has averaged 66 6, the highest
being 76 and the low est 59.
Memphis, Tennessee. —The crop outlook has im proved as a
result o f fine general rains. P lanting is finished. R ain has
fallen on fou r days o f the w eek, the precipitation being one
inch and seventy-six hundredths.
The therm om eter has
ranged from 57 5 to 76’9, averaging 66 2.
Nashville, Tennessee.—The weather is favorable and good
stands are prom ised. It has rained du rin g the w eek, the
rainfall reaching one inch and tw enty-six hundredths, A v e r­
age therm om eter 66, highest 79 and low est 53.
Mobile, A labam a.—Cotton planting is nearing com pletion .
H eavy rains occu rred in the in terior the last fou r days and
there are com plaints o f too m uch rain in some sections.
There has been rain on five days o f the w eek, the precipita
tion reaching tw o inches and eigh ty-fou r hundredths. The
therm om eter has averaged 67, the highest being 78 and the
low est 59.
M ontgom ery, Alabam a.— C otton is backw ard. There has
been too m uoh rain and hot w eather is needed. The w eek’s
rainfall has been unprecedented fo r May. W e have had rain
on each day the past week, the rainfall being fou r inches and
forty-five hundredths. T h e therm om eter has averaged 65,
ranging from 55 to 74.
Selma, A labam a.—The rains o f the week have been bene­
ficial except on some low lands that have been flooded. W e
have had rain on fou r days during the week, the rainfall
being fou r inches and thirty hundredths. The therm om eter
has ranged from 56 to 72, averaging 63.
M adison, F lorida.— Rain has fallen on each day o f the
week, the rainfall being one inch and sixty-eight hundredths.
A verage therm om eter 72, highest 82, low est 60.
Savannah, G eorgia .— W e have had rain on five days d u ricg
the w eek, the rainfall being fou r inches and forty -fiv e hun­
dredths. The therm om eter has averaged 66, the highest
being 75 and the low est 59.
A ugusta, G eorgia.— U nfavorable con ditions continue. Rain
has fallen on five days o f the w eek, the rainfall being one
inch and eigh t hundredths. T he therm om eter has averaged
67, ranging from 59 to 79.
Charleston, South C arolina.— There has been rain on six
days during the week, the precipitation bein g three inches
and eighty-eight hundredths. Therm om eter has ranged from
58 to 73, averaging 67.
Stateburg, South C arolina.— Beneficial rains have fallen
on three days o f the w eek w ithout m aterially in terferin g
with farm w ork. The rainfall reached seventy-three h u n ­
dredths o f an inch. A verage therm om eter 67, highest 78,
and low est 56.
The following statement we have also received b y telegraph,
Bhowing the height of the rivers at the p oin ts nam ed, at
8 o’clock May 14, 1908, and May 15, 1902.
May 1 4 , ’ 0 3 . May 1 5 . 0 2
M ew O r l e a n s . . . . ______ A b o v e s e r o o f g a n g s .
M e m p h is .. . . . . . . . . ____ . A b o v e * e r o o f g a u g e .
N a s h v ille ........ ......A b o v e sero o f g a u ge.
S h r e v e p o r t . . . . ________ A b o v e s e r o o f g a u g e .
Y l c k s b n r g ............................ A b o v e s e r o o f g a u g e -

Feet.

Feet.

175
1 6 -6
4 -9
5 '2
4 1 -4

6*7
10 5
2 2 -5

88
10 2

J u t e B u t t s , B a g g i n g , & c . — The demand fo r ju te bagging
has continued inactive du rin g the week under review , and
prices are as last quoted, v iz., 5 % c. fo r
lbs. and 6 c . fo r 2
lbs., standard grades. Jute butts very dull at 1>£@1% o. fo r
paper quality and 2 @ 23 ^ o. fo r bagging q u a lity.

1095

Our
Cotton A c r e a g e R e p o r t . — Our cotton acreage
report will probably be ready about the 5th of June.
Parties desiring the circular in quantities, with their business
card printed thereon, should send in their orders as soon as
possible, to ensure early delivery.
I n d i a C o t t o n M o v e m e n t f r o m a l l P o r t s .— The receipts
if ootton at Bombay and the shipments from all India porta
for the week ending May 14, and for the season from flept, 1
to M a y 14 for three years have been as follows:
1 9 0 2 -0 3 .

keceipH a t ir « c *

1 9 0 1 -0 2

Sine*
Sept. 1.

K eek.

V
III

M a y Its, 1903.]

6 2 .0 0 0 2 0 5 9 ,0 0 0

B o m b a y ............

Since
Sept. 1 .

G reat
B rita in .

C on ti­
nent.

8 o n ib a v —
1 9 0 2 -0 3 ..
1 9 0 1 - 0 2 ..
1 9 0 0 0 1 ..
C a lc u t t a —
1 9 0 2 - C 3 ..
1901 0 2 ..
1 9 0 0 -0 1 ..
tfa d r a fc—
1902 0 3 .
1 9 0 1 - 0 2 ..
1 9 0 0 -0 1 ..
411 o t h e r * —
1 9 0 2 -0 3 ..
1 9 0 1 -0 2 ..
1 9 0 0 -0 1 ..
to ta l a l l1902 0 3 ..
1 9 0 1 -0 2 ..
1 9 0 0 0 1 ..

F in d

Week.

Sept. 1 .

6 5 0 0 0 1 ,5 6 4 0 0 0

1 .9 2 3 0 0 0

f o r in* W*ek
J s p o r lt
fr o m —

1 9 0 0 -0 1 .

Mine* SevtembAT

lo ta i.

Great
B rita in .

C on ti­
nent.

Total.

3 .0 0 0

2 1 ,0 0 0

. . . . . .

1 4 ,0 0 0
1 3 ,0 0 0

2 4 ,0 0 0
1 4 ,0 0 0
1 4 ,0 0 0

6 9 ,0 0 0
5 ,0 0 0
6 3 ,0 0 0

6 4 7 ,0 0 0
3 8 1 ,0 0 0
4 6 0 .0 0 0

7 1 6 ,0 0 0
3 8 6 ,0 0 0
5 2 3 ,0 0 0

2 OOO
1 ,0 0 0
2 ,0 0 0

2 ,0 0 0
2 ,0 0 0
2 ,0 0 0

4 ,0 0 0
3 ,0 0 0
3 ,0 0 0

2 7 ,0 0 0
2 3 ,0 0 0
2 5 ,0 0 0

3 1 ,0 0 0
2 6 ,0 0 0
2 8 ,0 0 0
1 5 .0 0 0

1 ,0 0 0
. . . . . .

1 ,0 0 0

5 .0 0 0

1 0 ,0 0 0

7 ,0 0 0

1 2 ,0 0 0

1 9 .0 0 0

1 5 ,0 0 0

9 6 ,0 0 0
5 3 ,0 0 0
7 0 ,0 0 0

1 1 1 ,0 0 0

7 8 0 .0 0 0
4 6 2 ,0 0 0
5 6 7 ,0 0 0

8 7 3 ,0 0 0
4 7 2 ,0 0 0
6 4 8 ,0 0 0

1 .0 0 0

1 ,0 0 0
. . . . . .

4 ,0 0 0

1 ,0 0 0

1.000

6 ,0 0 0
2 ,0 0 0

7 ,0 0 0

3 ,0 0 0

3 ,0 0 0

1 .0 0 0
8 ,0 0 0

2 9 ,0 0 0
1 7 ,0 0 0
1 8 .0 0 0

3 3 ,0 0 0
1 8 ,0 0 0
1 9 .0 0 0

8 1 ,0 0 0

and

S hipments

2 ,0 0 0

A le x an d ria R eceipts
A l e u a n d m a . K g y p t,
M a y 13.

R e c e ip t s ( c a n t a r o ') T h i s w e e k . . . ..............
S in c e S e p t . l ___

E x p o r ts (b a le s )—
T o L iv e r p o o l..... . . .
T o C o n t in e n t !.......

9 3 ,0 0 0

1 0 ,0 0 0

o f

1 9 0 1 -0 2 .

1 9 0 2 -0 3

1 ,0 0 0

6 ,0 0 0

5 .7 3 4 .0 0 0

6 ,4 5 4 , 0 0 0

T h is

S in e*

w eek.

Sept. 1 .
5 3 1 .0 0 0

5 , 0 0 0 1 3 5 4 .0 0 0

This
w eek.

6 ,0 0 0

5 ,0 0 0

Since
Sept. 1 .

5 .0 0 0 2 9 9 . 0 0 0
6 .0 0 0 4 4 3 . 0 0 0

C

5 4 ,0 0 0
7 8 ,0 0 0

o tton

. -

1 9 0 0 -0 1 .

7 5 ,0 0 0
5 ,1 7 9 , 0 0 0
7 A i«

w eek.

n inee
Sept. 1 .

2 ,0 0 0 2 8 5 .0 0 0
3 ,0 0 0 2 5 3 .0 0 0

T ota l E u r o p e . . . . .
5 ,0 0 0 6 8 5 ,0 0 0 1 1 , 0 0 0 7 4 2 ,0 0 0
5 ,0 0 0 5 3 8 ,0 0 0
* A e a n t a r le 9 8 p o u n d s .
t O f w h ic h t o A m e r l o a I n 1 9 0 2 - 0 3 , 7 7 , 3 4 1 b a l e s ; In 1 9 0 1 - 0 2 , 9 4 , 8 1 5
b a le s ; In 1 9 0 0 - 0 1 , 4 4 , 4 6 4 b a l e s .
Man chester
M a r k e t , — O u r r e p o r t r e c e iv e d b y oable
ton igh t, from M a n ch ester sta tes t h a t th e m a rk e t is firm
for both yarns and sh irtin g s. M erch an ts are n ot w illin g to
pay present prices, W e g iv e th e p rices fo r to-day below
and leave those fo r p rev iou s w e e k s o f th is an d last yea r fo r
com parison.

19 0 3 .

19 0 2 .

81* lbs. S kirt­ O otfn
8 i « lbs. Skirt­ OotCn
32 * Cop. in gs, common Mid. 3 2 s Cop. ings, common Mid.
Twist.
Twist.
Uplds
Uplds
to finest.
to finest.
d.

d.

A p .l O 7 iii6 ® 8 J 4
.. 1 7 7 iii6 ® 8 i*
“ 24 788 0 8 1 «
081*
M ay 1
“
8 718l a » 8 S i 6
“ 15 81* OR5W

8. d.
s.
5 4 i« 0 8
5 4 i*t> 8
5 41*08
5 41*08
5 41*08
5 71*08

d.
1
li*
li*
2
2
5

d.
d.
d.
5-40 71* 0 8 i «
5 -4 2 71* ‘O 8 3 j0
5 -4 4 71116*888
57 78 56
081*
562 7\ 0 8 19
7 H i 616
»9 7 i,
6-

e. d.
5 5
5 5
5 6
5 7
5 6
5 5

s.
08
08
*8
08
08
08

d.
0
0
I**
2
li*
1

d.

5116
5S3a
5H

5 i*
m

S

The Sylvania fro m
L iverpool b rou gh t in to this port 150 bales o f cotton this
week aud 204 bales arrived from B rem en on the F reid rich
der Grosse.
Im

p o r t a t io n s

of

A

m e r ic a n

C

otton

.—

European
C otton
C o n s u m p t io n
to
M a y 1 . — B y cable
to-day w e have Mr. E llison’s c o tto n figures brought dow n to
May 1.
W e give also revised totals for last year that
com parison m ay be m ade. The spinners takings in actual
bales and pounds have been as fo llo w s :

Oct. 1 to May 1.

Great B ritain

Continent.

Total.

F o r 1 0 0 2 -0 3 .
2 ,2 8 6 ,0 0 0
3 ,6 6 9 ,0 0 0
5 ,9 6 5 ,0 0 0
T a k in g s b y s p i n n e r s ... b a l e s
4 8 7 -1
500
479
A v e r a g e w e i g h t o f b a l e s .l b s
T a k in g s In p o u n d s ................... 1 ,1 4 3 ,0 0 0 ,0 0 0 1 ,7 5 7 ,4 5 1 ,0 0 0 2 ,9 0 0 ,4 5 1 ,0 0 0
F o r 1 0 0 1 -0 2 .
5 ,8 6 6 , 0 0 0
3 ,2 4 1 ,0 0 0
2 ,1 2 5 ,0 0 0
T a k in g s b y s p i n n e r s .. . b a le s
493
4 9 6 -9
505
A v e r a g e w e i g h t o f b a l e s .l b s
T a k in g # In p o u n d s ................... 1 ,0 7 3 .3 2 5 ,0 0 0 1 ,5 9 3 ,0 0 0 ,0 0 0 2 ,6 6 6 , 3 2 5 .0 0 0

A ccordin g to the above, the average w eigh t o f the deliveries
in Great Britain is 500 pounds per bale this season, against
505 pounds during the sam e tim e last season. The C ontinental
deliveries average 479 pounds, against 493 pounds last year,
ind for the w h ole o f Europe the deliveries average 487-1
pounds per bale, against 496 9 pounds last season.
Our
lispatch also gives the fu ll m ovem en t fo r this year and last
/ea r in bales o f 500 pounds.

rHE CHRONICLE,

1 0 9 6
Oet. 1 to M ay 1 .
Bales o f 5 0 0 lbs. each,
0 0 0 s om itted.

55,
S p in n e r s ’ s to o k O o t. 1
T a k i n g s t o M a y 1 ........ 2 ,2 8 6 ,

C on ti­
nent.
318.
3 ,5 1 5 ,

A p ril 2 4

1 9 0 1 -0 2 .

1 9 0 2 -0 3 .

Great
Britain

[V o l . L X X V 1 .

Great
Britain

Total.
373,
5 ,8 0 1 ,

Conti­
nent.

Toiat

36.

317.

353

2 ,1 4 7 .

3 ,1 8 6 ,

5 ,3 3 3

2 ,1 8 3 ,
1 ,9 2 0 ,

3 ,5 0 3 ,

5 ,6 8 6

2 ,7 6 0 ,

4 ,6 3 0

743.

1 ,0 0 6

S u p p l y ................................

2 ,3 4 1 ,

3 ,8 3 3 ,

6 ,1 7 4 ,

C on su m p t’ n , 3 0 w eek s

1 ,9 5 0 .

2 ,8 8 0 ,

4 ,3 3 0 ,

S p in n e r s ’ s to o k M a y 1

391

853,

1 ,3 4 4 ,

*60,

92,

152,

161,

66,
66,
66,
66,

92,
92,

158,

92,
92,

t6 2 ,
1 62,

92,
92,

263

W eekly Consum ption
0 0 0 a omitted.
I n O o t o b e r .................

65,

I n N o v e m b e r . _____

65,

36,
96,

161,

I n D e o e m b e r ...........

65,

96,

I n J a n u a r y ............... .
I n F e b r u a r y .............

65,
65,

96,
96,

161,
161,

I n M a r c h ....................
I n A p r i l ........................

65,
65.

96,

161,
161,

96.

161,

1

158,
158,
158,
154,
154.

* T h e a v e r a g e w e e k l y r a t e o f c o n s u m p t i o n In G r e a t B r i t a i n i s a s
g i v e n b y M r . E l l i s o n a f t e r a l l o w i n g f o r s t o p p a g e o f s p i n d l e s in
c o n s e q u e n c e o f s h o r t s u p p ly o f c o t t o n .
t T h e a v e r a g e w e e k ly c o n s u m p tio n r e d u c e d o n a c o o u n t o f s to p p a g e
o f s p in d le s la tte r p a r t o f m o n th .

T he fo re g o in g show s that th e w eek ly con su m p tion is n o w
161.000 bales o f 500 pounds each, against 154,000 bales o f
like w eights at the corresp on d in g tim e last year. The total
spinners’ stocks in G reat B ritain and on the C ontinent h ave
increased 65,000 bales d u rin g the m on th and are n o w
338.000 bales m ore than at the sam e date last season.
G o ver n m en t W e e k l y
C otton R e p o r t .— Mr. Jam es
B erry , C h ief o f the C lim ate and C rop D ivision o f th e U n ited
States W eath er B u reau , m ade p u b lic on Tuesday the te le ­
g rap h ic reports on the crop s in the Southern States fo r
the w eek en din g May 11, su m m a rizin g them as fo llo w s :
A lt h o u g h m u c h t o o c o o l, n e a r ly t h e w h o le o f t h e o o t t o n r e g io n h a s
r e c e iv e d a b u n d a n t r a in fa ll, w h ic h w a s o f t h e g r e a t e s t b e n e fit In th e
ce n tr a l a n d w e s te r n d is tricts , w h e re g e r m in a tio n a n d g r o w th o f o o t­
t o n a r e n o w p r o g r e s s in g s a t is f a c t o r ily . I n t h e C a r o lln a s , n o r t h e r n
G e o r g ia a n d T e n n e s s e e , g e r m in a t io n a n d g r o w t h h a v e b e e n v e r y s lo w .
P l a n t i n g Is v e r y n e a r l y c o m p l e t e d i n t h e n o r t h e r n p o r t i o n o f t h e b e l t ,
b u t t h e c r o p is g e n e r a lly m u c h la t e r t h a n u s u a l.

N e w Y o r k C o tto n E x c h a n g e . — N o m in a tio n s.— The n o m .
in atin g com m ittee o f th e N ew Y o r k C otton E x ch a n g e have
selected the fo llo w in g tick e t to be v o te d fo r at th e annual
election , w h ich w ill be h eld on M onday, J u n e 1: F o r P r e s i­
d en t, R o b e rt P. M cD o u g a ll; V ice -P re sid e n t, H en ry S ch a e fe r;
T reasu rer, G e org e B rennecke. B oard o f M an agers— E . A ,
F a ch iri, H en ry H . W h eeler, E d w a rd M W e ld , Jam es F .
M au ry, H erm an N ord en , D a v id H . M iller, R ic h a r d A ,
S prin gs, J. F ran k M cF a d den , M arcus J . P a rrott, A lb e r t L .
R oun tree, H erm ann H a g ed orn , F ra n k B. G u est, G e o r g e M.
B aily, W illia m R a y and L. L . F lem in g. T rustee o f th e G r a ­
tu ity F u n d to serve three years, E . E . M oore.

• a les o l t h e w e e k ........... b a l e s .
O f w h ic h e x p o r t e r s t o o k . . .
O l w h ic h s p e o a la t o r s t o o k .
i a Iah A m e r lo a n ____ _____ _____
A c tu a l e x p o r t _________________
f o r w a r d e d .............„ ................. .
ntnrtfr—R atf
______
O f w h ic h A m e r ic a n —E s t ’ d .
c o ta lIm p o r t o f th e w e e k ..—
O l w h ic h A m e r i c a n _________
A m ount a f l o a t . . . . . . . . . . . . . . . .
O f w h ic h A m e r l o a n .. . . -------

4 7 ,0 0 (
2 ,0 0 0
3 ,0 00
4 2 .0 0 0
1 0 .0 0 0
6 5 .0 0 0
7 4 6 .0 0 0
6 5 6 .0 0 0
9 5 .0 0 0
7 9 .0 0 0
1 4 2 .0 0 0
9 0 .0 0 0

M ay 1.

M ay 8

4 9 .0 0 0
4 .0 0 0
3 .0 0 0
4 5 .0 0 0
1 5 .0 0 0
7 3 .0 0 0
7 2 6 .0 0 0
6 4 1 .0 0 0
6 8 .0 0 0
5 5 ,COO
1 1 3 .0 0 0
6 7 ,0 0 0

6 4 .0 0 0
5 .0 0 0
4 .0 0 0
5 8 .0 0 0
6 .0 0 0
6 5 .0 0 0
6 8 6 ,0 0 0
6 0 3 .0 0 0
3 1 .0 0 0
1 8 .0 0 0
1 2 0 .0 0 0
8 7 ,0 0 0

M ay 15.
9 6 .0 0 0
1 6 .0 0 0
1 1 ,0 0 0
8 6 ,0 0 0
1 0 ,0 0 0
6 8 ,0 0 0
6 4 5 .0 0 0
5 6 0 .0 0 0
3 6 .0 0 0
2 2 .0 0 0
1 3 1 .0 0 0
8 2 ,0 0 0

fh e tone o f the Liverpool market for spots and futurts
jaoh day of the week ending May 15 and the daily closing
orioesof snot cotton, have been as follow s.
Spot.

Sat’day. Monday. Tuesday. Wed’day. Ihursd’y Friday.

Market, i H a r d e n ’ g.
m. |

t X :S 0 p .

Ald.Upl’ds.
Sales..... .
?pee. A exp.

5 -7 0
7 .0 0 0
2 ,0 )0

H a r d e n ’ g.

6’ SO
1 5 .0 0 0
5 ,0 0 0

A c t iv e
and
risin g.

fi-co

5 92
2 9 .0 0 0
8 ,0 0 0

futures.

d y at Irreg. a t
Market l S te a d y llyai S te8apt*.
5@ 7 pia.
opened, j 1p aprtia
t. a d v . a d v a n c e . a d v a n c e .

A c t iv e
and
risin g.

G ood
dem and.

6 10

G ood
dem and.

6 16

1 5 ,0 0 0
3 ,0 0 0

2 0 .0 0 0
5 ,0 H?

Irre g . at
i pts.
d e c lin e .

F irm at B r’ly s t ’ dy
5@10 pts.
tm eh . to
a d v a n c e . I pt. a d v .

at F e v ’ ish a t F e v ’tsh at E x cite d at
Market, \ 1 @F irm
4<tl2 pta. 5%-7% pta.!2 pts. d ec.
4 F. M. j a d8v%a n pis.
c e . a d v a n c e , i a d v a n c e , t o tip t e .a d .

1 5 .0 0 0
3 ,0 0 0

S te a d y at E a s y at
4 3 1 0 pts. 4 p t s .d e .®
a d v a n o e . 4>4 pts. ad

3heprioes of futures at Liverpool for eaoh day are given
below. Prices are on the basis of U plands, Good Ordinary
clause, unless o th e r w is e s ta te d .
SaS,

roron .

T n « i,

W ed .

M ay 9

M ay 1 1 .

M ay 1 2

M ay 1 3

T k n ra.
M ay 1 4

F r l,

M ay 1 5

1 2 1 * 4 1 2 ^ 4 1 2 i s 4 1 2 i« 4 1 2 i s 4 1 2 is 4
P.M. P .M . F .M . F. M. P .M . P .M . p . u . P .M . P .M . P.M , P .M . P .M .
d.

d

d.

d.

d.

d.

d

d

d.

d.

d.

M a y ................ 5 4 6 5 4 9 5 5 7 5 6 1 5 7 0 5 6 8 5 7 8 5 7 6 5 8 5 5 8 6 5 8 9 5
M a y - J u n e . . . 5 4 6 5 4.9 5 5 7 5 6 0 5 6 9 5 6 7 5 7 6 5 7 5 5 8 3 5 8 4 5 8 7 5
J a n e -J u ly ... 5 4 5 5 4 7 5 5 6 5 5 9 5 6 7 5 6 5 5 7 4 5 7 3 5 8 1 5 8 2 5 8 5 5
Ju ly - A n g . . . 5 4 4 5 4 6 5 5 4 5 5 7 5 6 5 5 6 3 5 7 2 5 7 1 5 7 9 5 8 0 5 8 2 5
A n g .- S e p t ... 5 3 1 5 3 3 5 4 0 5 4 2 5 5 0 5 4 8 5 5 8 5 6 7 5 6 6 5 6 7 5 68 5
S e p t.-O o t___ 4 9 2 4 9 2 4 9 6 4 9 9 5 0 7 5 0 5 5 0 8 5 0 7 5 1 4 5 1 4 5 16 5
O o t .-N o v ___ 4 7 4 4 7 4 4 7 7 4 7 9 4 8 7 4 8 5 4 8 7 4 8 5 4 9 1 4 8 9 4 88 4
N o v .-D e o ___ 4 6 6 4 6 7 4 7 0 4 7 2 4 8 0 4 7 7 4 7 9 4 7 6 4 8 2 4 8 0 4 7 9 4
D e c .-J a n ___ 4 6 5 4 6 6 4 6 9 4 7 0 4 7 8 4 7 6 4 7 8 4 7 4 4 8 0 4 7 8 4 77 4
J a n .-F e b ___ 4 6 4 4 6 5 4 68 4 6 9 4 7 7 4 7 5 4 7 7 4 7 3 4 7 9 4 7 7 4 7 6 4
F e b -.M o h . ..
M o h .-A p r il..

d.
80
88
85

82
67

14

86
76
74
73

BREADSTUFFS,

F riday, May 15, 1908.
O nly a lim ited business has been transacted in th e m ark et
fo r w heat flour, th e sales b ein g con fin ed alm ost exclu sively
to sm all qu a n tities, bu yers b ein g u n w illin g to pay ru lin g
prices fo r rou n d lots, and m ills w e re n ot disposed to m ake
con cessions to effect sales. C ity m ills h&ve con tin u ed closed ,
o w in g to la b or trou b les, and h ave m ade fe w sales. R y e flou r
Shipping news .—A s show n on a previous p a g e , the has been qu iet b u t steady at u n ch an ged prices. The dem and
exports of ootton from th e U nited S tates th e p ast w eek have fo r corn meal^has been lig h t bu t prices are qu oted u n ch an ged
poaohed 87,293 Dales, The shipments In d e ta il, as m ade up and firm .
S peculation in w h eat fo r fu tu re d eliv ery has been q u iet.
from m a il an d telegraphio re tu rn s, are as fo llo w s:
P rices fo r M ay d eliv ery have sh ow n an a d va n cin g ten den cy
Total bales.
based on th e fa v o ra b le statistical position , th e visible su pply
N e w Y o b s —T o L i v e r p o o l , p e r s t e a m e r s C y m r i o , 6 6 0 .........
V i c t o r i a n , 1 ,3 6 1 u p l a n d a n d 5 0 S e a I s l a n d ................................
2 ,0 7 1
statem ent sh o w in g a m oderate decrease in stooks fo r the
T o H a v r e , p e r s te a m e r s L ’ A q u it a in e , 1 0 6
L a B reta g n e, 5 0
156
w eek, and there has been som e b u y in g b y shorts to cover c o n ­
T o B r e m e n , p e r s t e a m e r s R o e n t g e n L u i s e , 6 8 5 ____N e o k a r ,
tracts. O nly fra ction a l ch an ges have o c c u r r e d in prices fo r
1 , 0 0 0 .......................................................................
1 ,6 8 5
the n ew crop deliveries. T he m on th ly re p o rt o f the A g r i­
T o A n t w e r p , p e r s t e a m o r K r o o n l a n d , 6 0 ........................................
60
T o N y k o p i n g , p e r s t e a m e r T h e m i s t o . 1 0 0 ........................................
100
cu ltu ra l B ureau , issued on M on d a y, w h ile sh ow in g som e d e­
T o B a r c e l o n a , p e r s t e a m e r B u e n o s A i r e s , 7 2 2 ..............................
722
terioration in the c o n d itio n o f th e g row iD g w in ter-w h eat
T o G e n o a , p e r s t e a m e r K o n l g A l b e r t , 9 9 ..........................................
99
c r o p d u rin g A p ril, foresh ad ow s, w ith o rd in a rily fa vora b le
T o J a p a n , p e r s t e a m e r 8 a t s u m a . 5 0 0 ....................... ...........................
500
N e w O r l e a n s - T o L o n d o n — M a y 1 5 — S te a m e r A s ia n 1 ,6 8 0
1 ,6 8 0
con d ition s, a large cro p , and this had a bearish influence.
T o H a v r e — M a y 8 — S t e a m e r A m b e r t o n , 1 , 5 5 5 ___ M a y 1 3 T h e present o u tlo o k is also fa v ora b le fo r a g o o d sp rin g-w heat
S t e a m e r C a r d lu m , 1 , 1 9 9 ............................................................................
2 ,7 5 4
cro p , it b ein g g en era lly reported that seeding w as c o m ­
T o D u n k i r k - M a y 1 3 - S t e a m e r C a r d lu m , 2 5 0 ...............................
250
T o G e n o a —M a y l l — 8 t e a m e r D l u n a m a r e , 9 , 0 5 5 .........................
9 ,0 5 5
pleted under fa v ora b le con d ition s. Canadian advices have
T o V e r a C r u z —M a y 9 —S t e a m e r M a l m , 7 6 0 ..................................
760
reported a fa v o ra b le start fo r the M anitoba and O n tario
G a l v e s t o n - T o L i v e r p o o l —M a y 1 4 — S t e a m e r I r a d a , 8 , 6 7 0 .........
8 ,6 7 0
crops. E uropean ca b le advices have con tin u ed to rep ort an
T o H a v r e —M a y 8 — S t e a m e r s D o m i n i c , 2 ,6 7 1 ; I r a n , 9 , 4 5 9 . . 1 2 , 1 3 0
u n fa v ora b le ou tlo o k fo r th e F ren ch c ro p , b u t cro p co n d i­
T o B r e m e n —M a y 7 — S t e a m e r H a n n o v e r , 8 , 9 5 5 ...........................
8 ,9 5 5
T o H a m b u r g — M a y 1 3 —S t e a m e r B e l f a s t . 1 , 0 2 7 ............................
1 ,0 2 7
tions in R ussia h ave been rep orted as sh ow in g som e im p rov e­
1 ,3 9 1
T o A n t w e r p —M a y 8 — S t e a m e r H o r n b y C a s t l e , 1 , 3 9 1 .............
m ent.
A t th e close o f th e w eek there w ere reports cu rren t
T o R e v a l - M a y 7 —S t e a m e r H a n n o v e r . 1 5 0 ....................................
150
o f dam age to the crop in K ansas b y the H essian fly. Business
T o R i g a M a y 7 — S t e a m e r H a n n o v e r . 1 5 0 ............. .........................
150
T o S t. P e t e r s b u r g - M a y 7 —S t e a m e r H a n n o v e r , 1 7 ...................
17
in the sp ot m ark et has been fa irly a ctiv e, exporters bein g
P e n s a c o l a —T o L i v e r p o o l - M a y 1 5 — S t e a m e r I d a , 8 7 5 .................
875
m ore a ctiv e buyers a to u tp o rts; prices have advanced. T o-d ay
T o G e n o a — M a y 7 — S t e a m e r B a lU la ( a d d i t i o n a l ) . 3 2 5 .............
325
the m ark et w as firm er on reports o f cro p dam age in the sam e
S a v a n n a h — T o H a v r e — M a y 1 2 —s t e a m e r C i t y o f G l o u c e s t e r ,
sections o f th e w in ter-w heat belt b y the Hessian fly. T he spot
5 9 2 u p l a n d a n d 5 6 2 S e a I s l a n d ............... ...........................................
1 ,1 5 4
T o H a m b u r g —M a y 1 2 —S t e a m e r C it y o f G l o u c e s t e r , 1 ,2 1 8 . .
1 ,2 1 8
m ark et w as m od era tely active. T h e sales fo r exp ort here at
T o G o t t e n b u r g — M a y 1 2 — S t e a m e r C it y o f G l o u c e s t e r , 1 0 4 . .
104
outports w ere 225,000 bushels.
T o B a r c e l o n a — M a y 1 2 - 8 t e a m e r T e r e s a , 5 , 6 6 5 ..........................
5 ,6 6 5
T o G e n o a - M a y 1 2 —S t e a m e r T e r e s a , 1 , 0 9 3 ....................................
T o V e n i o e — M a y 1 2 —S t e a m e r T e r e s a , 2 3 3 ......................................
N o r f o l k — T o L i v e r p o o l - M a y 1 4 —S t e a m e r C a s t a n o , 3 2 4 ...........
B o s t o n —T o L i v e r p o o l — M a y 8 — S t e a m e r D e v o n i a n , 1 0 0 .........
M a y 9 — S t e a m e r M i c h i g a n , 8 6 6 ...........................................................
B a l t i m o r e —T o L i v e r p o o l M a y 8 — S t e a m e r Q u e r n m o r e , 1 9 8 . . .
T o B r e m e n —M a y 1 3 —S t e a m e r K o l n , 4 1 2 ...................................... ..
P h i l a d e l p h i a — T o L i v e r p o o l —M a y 8 — S t r . N o o r d l a n d , 2 , 1 8 1 . .
S a n F r a n o i s o o —T o J a p a n — M a y 8 —S t e a m e r D o r i c , 1 4 2 ...........
T a c o m a — T o J a p a n — M a y 9 —S t e a m e r T r e m o n t , 2 1 ...........................

1 ,0 9 3
233
324
966
198
412
2 ,1 8 1
142
21

T o t a l . . . . . . . . . . . . . . ■ ■ ■ ■ . . . . . . ■■ .■ - . . . . . . . . . . . . . . . . . . . . . . . . « —. . „ ,

6 7 .2 9 3

Exports to Japan since Sept. 1 have been 127,767 bales from
the Pacific Coast, 6,233 bales from New York and 400 bales
from Norfolk.
L i v e r p o o l . — By cable from Liverpool we have the follow­
ing statement of the week’s cables, stocks, & c., at that port,

DAILY CLOSING PRICES OF NO. 2 BED WINTER -WHEAT IN N E W Y O R K
3 fon .
S uet.
Wed. Thurs.
F ri.
83%
81%
81%
Gash w h e a t f. o . b .............. 8 1 %
83%
83%
82%
83
83%
M ay d e liv e r y In e le v ........ 8 2 %
83%
83%
77%
77%
J u ly d e liv e r y In e l e v ........ 7 7 %
78%
77%
77%
74%
74%
S ep t, d e liv e r y In e l e v . . . .
75
75 «
75%
74%
—
—
. . . .
76
D e o . d e liv e r y In e l e v . . . .
76%
76%
DAILY 0 LOSING PRICES OW NO. 3 SPBING WHEAT IN C H I O A O O .
8ai
Mon.
Wed. Thurs.
Tue*.
F ri.
78%
78%
78
M ay d e liv e r y In e l e v ........ 783s
78%
78%
7
2
%
7
2
%
7
2
%
J u ly d e liv e r y In e le v ........
72
72%
72%
70
S ep t, d e liv e r y In e l e v . . . . 7 0 %
69%
70%
70%
69%

Indian corn futures have been quiet, but early in the week
the tendency of prices was towards a higher basis. Weather
conditions in the corn belt were reported unfavorable, it be­
ing understood that planting in some sections was making
slow progress, due to too much moisture. Predictions of

IH E CHRONICLE

M a y 16, 1903. J

fro st w est o f tb e M ississippi R iv e r a lso had a s tr e n g th e n in g
influence upon v a lu e s. SubSM iuently, h o w e v e r, w eath er
reports w ere o f a m ore fa v o ra b le tenor and p rom p ted se llin g
by early bu yers to liqu id ate th eir a cco u n ts, u n der w h ich th e
advance w as lost. O n ly a sm a ll v o lu m e o f business has been
transacted w ith exp orters ia the spot m a r k e t, b u t as th ere
has been no pressure to se ll, prices h a v e h eld to a steady
basis. T o -d a y tb e m ark et w as firm er on reports th a t rain
w as needed in the corn b elt e ast o f th e M ississippi. T h e sp ot
m ark et w as firm er bu t qu iet.
D A I L Y C L O S IN G fU I O H S O * S O . J M I X E D O O E N IM N K W

V llK S ,

wed. Thurt.
Hat.
J'ue*.
r -t .
Mon.
53
63
53%
54
O w n corn f. o. b ............. 53
53%
54
53%
May delivery In elev...... 54%
53%
5 3%
55
51 >*
52
52
July delivery in elev__ 518*
62%
J2%
6 0 7s
50%
5 0 78
50%
Sept, delivery In elev....... 500s
50%
d a il y glosing fkiokb o r n o. 2 M I X E D CORN IN CHICAGO •
P--4
Hat.
Mon. Tuet.
Wed. T h u rt.
U%
45
44 %
45
May delivery In elev...... 448s
45%
44%
45%
45%
45
4 5%
July delivery In elev__ 45
44%
44%
44%
44%
44%
Sept, delivery in elev__ 44k)
O ats for fu tu r e d e liv ery at the W e ste r n m a r k e t have been
m o d era tely activ e and there has been a fra c tio n a l ad van ce in
prices. C ro(.s new s fro m poin ts east o f th e M ississippi have
n ot been o f a p rom isin g c h a ra cter, and th is, c o u o led w ith
c o m p a ra tiv ely lig h t co u n try o ffe rin g s, has fa v o r a b ly in ­
fluenced prices. B u siness in th e lo ca l spot m a rk e t h as been
qu iet, bu t as offerin gs h ave been lim ite d , prices h a v e b e e n
w ell m ain tain ed . T o -d a y the m a rk e t w as h ig h e r on u n fa v o r ­
able crop indication s. T h e spot m a rk e t w as ste a d y .
D A I L Y G L O B IN G P R IC K S O P O A T S I K

No. 1 mixed
■ o. 2 w h ite

in
in

elev......
elev......

Tuet.
38
38
40%
40%
2 M IX E D O A T S
M on,
Tuet.
35
35%
32
32%
29%
29%
M on.

hat.

88
40%

D A I L Y C L O S IN G P R IO R S O F M O,

May delivery in elev__
July delivery in elev__
Sept, delivery In elev__

RBW YORK.

S at.

35%
32%
29%

Following are the closing quotations:

Wed.
38%

T h u r t.

38
41
41
IN C H I C A G O
Wed. T h u r t .
35%
85%
32%
3 2%
3 0%
30%

38
41
•

r %

36%
33
30%

FLOUR.

Pine___ ___ _____$2 60 • 2 65
Patent, -winter__ *3 85 ©4 15
Superfine: ________2 70 ®2 75
City mille, patent. 4 60 04 85
Extra, No. X.____ 2 75 0 2 80
Rye flour,superfine 2 76 03 50
E xtra, No. 1...,___ 2 95 0 8 05
Buckwheat flour..
N om inal
C l e a r s . 8 20 ©3 40
Corn meal—
W e s t e r n ,e t c . . 2 80 ®2 BO
Straights....a *. . . . 9 50 04 00
Brandywine__ 2 95 « 8 00
Patent, spring.... 4 10 0 4 85
(Wheat flour In cache sells at prices below those lor barrels.)
Wheat, per bush.—
Hard Dul.,No. 1..
Bf’thern DuL, No.l
Bed winter. No. 2
Kort’n Dul. No. 2.
Oate—Mix'd,p. bush.
White........... .......
No. 2 mixed..........
No. 2 white...____

o r a a*.

c.
e.
f. c. b 89%
f. o. b.877s
f. o. b.83%
f. o. b.867s
87 040
38*3 04.5
38 «3 9
41 942

Corn, per bush.—
e.
<•
Western mixed..........62 056
No. 2 mixed.......
f. 0. b.54
No. 2 yellow.........
f. o. b.64%
No. 2 white............
f. o. b.55
Bye, per bush—
__531*059
W cetera.,.
State and Jersey........56 058
Barley—West........... ..52 ©61
Feeding................ .. ...51%®5i%

E x p o r t s of Grain and Flour from Pacific Ports.—
T eleg ra p h ic reports in d ica te th a t th ere h ave been no e x p o rts
o f flour and g ra in fr o m P acific ports fo r th e w e ek en d in g
M a y 15.
T h e exp orts to fo re ig n cou n tries fo r th e period sin ce J u ly
1, 1902, have b e e n :
C orn,
Oats,
B arley, Rye,
E xports
F lou r,
Wheat,
bush.
bush.
bush.
bush.
fr o m —
bblt.
bush.

San Fran. 793,754 8,419,093
Puget S’d .l,720,086 8,148,816
Portland.. 694,435 7,883,270

38,466
10,618

Total....3,208,275 24,451,209

49,094

1 1 ,1 -4 8

822,943
117,728

6,263,748 215.107
223,841
25
974,034 ........

951,869 7,461,623 215.132

G o v e r n m e n t W e e k l y G r a i n , E t c ., R e p o r t —M r. J am es
B erry, C h ie f o f th e C lim a te and C rop D ivision o f th e U n ite d
States W e a th e r B u re a u , m a d e p u b lic on T u e sd a y the tolegrap h io rep orts on tn e g ra in crops ia th e variou s S t a te s
fo r the w eek en d in g M a y 11, s u m m a r iz in g th e m as fo llo w s :
W b a t h e r .—T he Ohio V alley, M iddle A tlan tlo and Southern States
have exp erien ced another o o o l week, and w hile the tem peratu re has
been above the seasonal a v era g e In the m ore n orth erly dlstrlots the
reports gen erally lndloate the n eed o f warm th. Tn the L o w e r M is­
souri, C entral M ississippi and Ohio v a lle y s and A tla n tic coa st dis­
tricts, in cluding the northern p ortion o f the E ast G u lf States, rains
w ould be o f m uoh benefit. R ain w ou ld also be benefloial In the R o >hy
M ountain and Pacific co a st districts. M ach needed and abundant
rains h ave fallen In the W est G u lf States and Florida. In O klahom a,
Kansas, N ebraska. Iow a, tbe D akotas. M innesota and W isconsin the
conditions h ave been gen erally favorable.
Co r n .—Corn plan ting con tin u es v e ry late, bnt Is n ow In general
progress throughout the cen tral v a lley s and has begu n in the extrem e
northern districts. This w ork has been carried on m d s r mnoh diffi­
cu lty in the low er M issouri, Central M ississippi, and Ohio va lleys, and
portion s o f the M iddle A tlan tlo States, ow in g to hard aud olod d y
ground. G erm ination and g row th have been v e ry slow in all dlstrlots;
on the W est G u lf States, h ow ever, the orop has re co v e re d ra p id ly from
the effects o f th e cold o f the p reviou s week.
W in t e r Wh e a t - A n im provem ent In th e oon d itlon o f w in ter w heat
is reported from Nebraska. K ansas, O klahom a, T exas and Ohio, but
the orop has suffered deterioration In Indiana. Illin ois, K en tu ck y and
M issouri, mnoh in the southern p ortion o f the last-m entioned State
having been g reatly dam aged b y ru st and insects. W heat Is n ow
beading as fa r north as K entuoky and sou th ern M issouri. On the
Paoitio coast w inter w heat continues th rifty in O regon , but In W ash­
ington and C alifornia It Is In need o f rain, th e la te-sow n in C alifornia
being v ery unprom ising.
Sp r in g W h e a t .—Spring-wheat seeding is n ow p ra ctica lly finished,
and the early-sow n is oom ln gu p to g o o d stands and is in h ealth y c o n ­
dition. No dam age seem s to h ave resulted from the severe w eather
o f the previou s week. In the N orthern R o ck y M ountain d lstrlots and
In W ashington the reports arc leas fa v ora b le, rain b ein g n eed ed .
O ats .—The seeding o f oats Is nearly finished In the m ore n orth erly
districts, w here g ood stands a re prom ised, and fro m T ex a s n orth w a rd
to the U pper M issouri V alley the orop has Im p roved m uoh sinoe last
w eek, but from tb e low er M issouri V a lley eastw ard o v e r Illin ois, In ­
diana and Ohio the stands are uneven and th e orop is m uoh In n eed o f
rain.

1097

A g r ic u l t u r a l
T h e report o f

D epa r tm e n t R e po r t on C e r e a l s , & c.—

th e

D ep a rtm en t o f A g r ic u ltu r e sh o w in g the

condition o f cereal crops on M ay 1 w as issued on th e 11th
in s t., and is as fo llo w s :
R eturns to the S tatistician o f the D epartm ent o f A gricu ltu re m ade
up to M ay 1 show the area under w inter w heat In cu ltiv a tion on that
date to have been abou t 38,10 7 ,0 0 0 acres. T his is 964,OuO acres, or
2-8 per cent, less than the area sow n last fall, ami 4,52 1,000 aores. or
15-8 per cen t,In e x ce ss o f the area o f w inter-w heat h arvested last
je a r . The p ercen ta ge or abandoned acreage In all the Im p ortan t w in ­
ter-w heat (g row in g States is unusually sm all, the aban donm ent, In­
clu d in g the areu to be out fo r hay, reach in g 10 0 ,0 6 0 aores on ly In
K ansas, T ex a s and C alifornia.
F or the area rem ainin g under cu ltiv a tion the average co n d itio n on
M ay 1 was 92-6, again st a con d ition o f 97-3 fo r the total area sow n r e ­
p orted on A p ril 1, 1903, and 76-4 <>n M ay 1 ,1 9 0 2 ,9 4 -1 at the corre
sp on dln g date In 1901, and 8 2 -5, th e m ean o f th e averages o f the last
ten years, fo r the areas rem aining under cu ltiv a tion on M ay 1. While
there has m an ifestly been som e d eterioration o f oon d itlon du rin g the
m onth, special field agents despatch ed to ih e p rin cip al w inter-w heat
States on the occu rre n ce o f the frost o f A pril 30 and M ay 1 rep ort the
w h ea t orop as p ra ctica lly uninjured b y the c o ld snap.
T h e fo llo w in g c o m p a riso n fo r
con d itio n o f w in te r w h e a t in th e
periods:
C O N D IT IO N O F

1903.

th ree years c o v e rs th e
lea d in g S tates at sta ted

W IN T E R W H E A T .

1902.

1901.

M up.

June. A p ril. M ay.

S ta tu .
A p ril.

A p ril.

M a i,.

TenY ear
A verage
J u n e. M ay 1.

O h i o .......................

97

95

77

70

76

83

S3

90

I n d i a n a ................

97

81

74

75

89

94

90

60

87

90

92

91

91

96

98

10 0
10 2

84

78
83
78

I l l i n o i s ..................

98

95
92

M i s s o u r i ............

95

87

79
77

84

K a n s a s .................

97

95

73

57

00

105

105

87

M i c h i g a n ............

95

90

83

80

83

72

78

68

78

C a l i f o r n i a ..........

98

93

93

88

10 0

86

92

80

O r e g o n ..................

90

88

88

96

80
94

99

99

97

N e w Y o r k ...........

99

60

91

SB

82

90

90

92

98
90

86

P e n n s y lv a n ia ..

10 0

65

76

89

94

90

98

89

83
60

79

T e n n e s s e e .........

67

01

81

89

88

80

K e n t u c k y ...........

10 0

98

68

69

64

75

89

81

87

M a r y l a n d ...........

99

97

70

75

69

93

97

V i r g i n i a ...............

103

94

54

59

49

91

99

10 0
68

88

T e x a s ....................

94

86

72

70

57

63

59

45

79

N e b r a s k a ..........

96

96

93

89

91

10 0

105

90

87a

O k l a h o m a ..........

IOO

97

67

75

82

97

93

84

91 b

A v e r a g e ..........

9 7-3

7 8-7

7 6-4

76*1

01-7

94-1

K7-8

a F iv e -y e a r a v e ra g e .

91

^ 2*5

b T h r e e -y e a r a v e ra g e .

T he a verage oon ditlon o f w in ter r j e on M ay 1 w as 93-3, as com *
pared w ith 97 9 on A p ril I , 1903, 83-4 on M ay 1. 1902, 94 6 a t the
co rresp on d in g date in 1 9 0 i aud 88-4 the m ean o f th e M ay av era g es o f
the last ten years. New Y ork rep orts 88 and P enn sylvania and M ich i­
gan eaoh 94,'th e se three Stacee oon caln in g 56 per cen t o f the to ta l
w in ter-rye a crea g e o f the cou n try.
The a verage co n d itio n o f m ea d ow m ow in g lands on M ay 1 w as 92 8,
against 86 o on May 1 ,1 9 0 2 , 92-8 at th e corresp on d in g d ate in 1901
and 90 4 the m ean o f the M ay a v era ges o f th e last ten years.
T he average oon d itlon o f sp rin g pastures on M ay 1 w as 92,
against 84 9 on M ay 1, 1902. 91-5 at th e corresp on d in g date In 1901
and 89-9 the m ean o f th e M ay a verages o f th e last ten y ears.
The con d ition s that in a ll b a t a fe w States h a v e been fa v o ra b le to
m eadow -m ow in g lands and sprin g pastures h ave w ith alm ost equ al
u n iform ity been u n fa v ora b le to spring p low in g, and the p r o p o rtio n .
57 9 per oent. o f tbe am ou n t rep orced as con tem p lated that w as
a ctu a lly done up to M ay l w as the lo w est, w ith one e x c e p tio n , in
tw e n ty years. The area p low ed up to th e corresp on d in g d a te la st
yea r w as 72-3 p er ce n t o f the tota l a m oa n t Intended and w as w ith in
on e-h a if o f one p er oent o f the ten -year average.

The movement of breadstuffs to market as indicated in the
atatements below Is prepared by ns from figures collected
by the New York Produce Exohange. The receipts a t
Western lake and river ports for the week ending M a y 9
and since Aug. 1, for eaoh of the last three years have been:

B eteip ts at—

Flour.

Corn.

W heat

Oatt.

B arley.

B y e.

B b ls.lW lb s B u s k . 6 0 U>e Bush. 5 6 lbs Bush.32 Ids Bus 4 .4 8 lbs B14.50 lbs.
J k ie a g o ..........
M ilw a u k e e .

120.2C9

8 5 3 ,22 5

1 ,2 0 9 ,2 2 5

1 ,2 1 0 .6 5 0

2 3 4 ,7 4 9

6 8 ,0 0 0

8 0,1 00

8 6 ,0 8 0

12,3 50

1 3 3 ,9 0 0

3 0 7 ,8 0 0

1 5 .2 0 0

y m i n t h ...........

9 8,0 00

1 29,891

...........

2 4 ,4 0 5

062

8 ,7 4 9

6 53 .53 0

2 0 ,4 3 0

2 6 2 ,5 4 0

3 5 ,0 9 0

1 0 ,0 0 0

47,0 00

2 1 0 ,0 0 0

5 2 ,2 0 0

1 5 ,1 2 0

70,4 81

4 0 ,0 0 0

it ln n e a p c fis .

0 000

4 ,9 4 0

18 554

8 9 ,5 2 3

105 .42 7

1 2 7 ,4 5 0

Jt. L o u i s . . . .

5 0.2 65

2 7 2 ,7 1 8

5 8 1 ,0 8 5

3 8 6 .1 0 0

8 .0 0 0

1 1,7 60

f e o r l s ............

9 ,8 0 0

2 0 ,0 0 0

2 8 6 ,0 0 0

9 9 ,0 0 0

3 0 ,7 0 0

3 ,2 0 0

4 0 3 ,2 0 0

1 9 4 ,4 0 0

0 3 ,4 0 0
1 2 1 ,8 4 5

f . a n i s i C it y .

F o t .w x .i9 0 3
l a m * w k . 08.
la m a w k .’ Ol.

Since Aug.

378 .62 8

1 ,9 7 6 ,2 9 0

0 1 7 ,0 0 1

1 ,0 6 8 ,7 1 6

2 ,0 8 0 .3 9 8
2 ,1 1 9 ,0 2 1

2 ,3 5 6 ,2 6 1

4 0 0 .2 8 8

3 ,1 7 4 ,7 8 0

4 3 0 ,8 6 0

3 1 .8 3 0

4 2 5 ,3 2 3

2 ,2 9 4 ,0 3 7

3 ,6 8 1 ,7 0 8

S,8 8 0 ,9 3 5

2 2 1 ,2 7 0

94 823

1 8 ,2 3 7 ,0 9 8 3 2 1 .e 0 1 .3 2 1 1 28 ,8 7 5 ,4 0 3 1 5 4 ,2 1 6 ,4 9 3
1 0 .8 4 1 ,6 5 8 2 C 3 ,108 .09 9 1 0 3 ,0 8 8 ,0 7 3 1 1 8 ,4 2 6 ,1 9 8
1 5 ,8 6 3 ,4 0 3 1 9 3 ,8 6 0 .0 4 2 1 0 8 .4 4 8 ,8 1 1 'lS 0 .6 89 .86 O

5 0 ,3 1 7 ,9 8 4

9 ,3 0 3 .7 8 5

8 8 ,8 0 4 .8 0 3
3 7 ,0 7 7 ,9 6 0

4 ,7 4 2 ,1 9 3

1.

1*0 2 -0 3 ............
1801-08..........
1 9 0 0 - 0 1 ..........

8 .6 5 2 .8 8 7

The receipts of flour aud grain at the seaboard ports for
the week ended May 9, 1908, follow:
S M l i f t l A t—
N e w Y o r k , ..........
B o s t o n , .............................
M o n t r e a l .................... .
P a i i s d e l p k i a . ...............
B a l t i m o r e ................. ..
R i c h m o n d ........ ..............

tltu r .
bbls.
1 48 ,54 1
6 0 ,4 2 2
4 ,7 0 7
1 0 8 ,1 1 9
6 6 ,8 8 0

2 ,1 2 0

19,1 58

t e w r o r t N e w t .............
M n h l lE r. . . , T
S t . J o h n , N . B _ ...........
T o t a l w e e k .............
W e e k 1 9 0 8 ......................

8 000
3 ,6 8 5
4 0 1 ,0 3 5
3 4 3 619

iV h in t,
bush.

oern ,

bu sk.

b u sh .

1 ,1 1 1 ,6 0 0
187.871
8 6 4 ,7 6 8
1 46 .80 8
60.8 38
18,464
0 3 3 500
1 6 ,7 6 5
6 3 4 ,6 0 0
1 0 ,2 6 8

4 24 ,20 0
3 8 0 .1 4 9
3 4 1 ,9 4 2
6 8 ,3 9 4
2 4 3 ,6 7 9
2 8 ,2 3 8
1 0 1 .7 5 0
3 0 ,8 4 9
7 t0

4 1 1 .0 0 0
1.30,469
9 3 ,5 1 6
9 7 ,6 0 7
41,1 77
2 8 .8 7 0
2 8,7 25

O a ts,

B a r 1st
h u sh .

12,3 75
7 ,7 7 0

BUS,
hush

86 H
74=
3 0 .1 7 *
86?
1 9 ,7 3 5
804

29

1 1 ,2 0 3

8.3C3

4 7 ,9 6 0

9 .9 8 1

1 3 ,8 7 1

3 .0 7 0 ,6 0 5
3 ,7 7 0 ,8 1 4

1 ,6 2 4 ,2 0 4
4 0 2 .8 1 0

8 0 9 ,5 4 5
1 ,0 8 9 ,4 2 1

8 0 ,1 8 0
8 ,7 8 6

1 0 0 ,8 4 2
2 0 2 .8 6 2

THE CHRONICLE

1098

[V o l . L X X V I.

T o ta l receip ts at ports from Jan 1 to May 9 com pare a?
follow s fo r fo u r years:

being pressed fo r sale, particularly in fan cy worsteds. Cottonw arp and union goods are inactive.
A quiet market is
1902.
1001.
1908.
1900.
reported in overcoatings and cloakings. W oolen and w orsted
R e c e ip t o f —
7,776.048 dress goods are in m oderate request, w ith a steady tone. New
7,246.908
7,691,009
f l o o r . ...................
82.933.960
38,184.057
25.485,701 lines o f carpets fo r fa ll have been in g ood request, prices
W heat...................
7.022,065
02800.890
08 3(2,710
Corn......................
34.797,761
80,173 418
24,185,953 sh ow ing advances ranging from lj^ c . to 10c., a ccordin g to
19.597.098
Oati......................
5,020,197 quality••
1,880.151
1,398.895
2 432,604
B a rley .................. ...
"
1.366.9.18
919.230
000.791
997 830
Bye........................ ...
D o m e s t i c ; C o t t o n G o o d s . — T h e e x p o r t s o f cotton goods
" 104,189.219
124,244.352 from th is p o r t fo r th e w e e k e n d in g M ay 11 w ere 2,618
57.671895
184,695,705
T otal m a in .... ...
the
several
seaboard
ports
fo
r
the
weefi
T he exports from
pacKages, v a lu e d a t $155,334, t h e ir d e s tin a tio n bein g to the
ending M ay 9, 1908, are sh ow n in the annexed statem ent;
points sp e cifie d in th e ta b le s b e l o w :
.Sarin
O a tt,
lit* .
P ea t,
C orn,
flo u r ,
Wfiee (,

bulk.
E n p o r t e f r o m — b u th .
N«w Y ork ....... 667,270 633.109
B olto n ............ 243,282 320,687
P ortland, M e . 10,258 ...
P h ilad elp h ia.. 261,686 163,215
B altim ore.......
I 6,0oo so l,728
Hew O rlea n i,. 488,C47 240,650
new n’ r tH e w i ........
16,755
M ontreal........ 126,600 102,326
O a lv e ito n ..... 416,000
66,000
M obile......................................
St. J oh n .N .B . 11,213
8,803

bbii.
78,517
10,837

bu lk .
7.923
40

63.005
77.005
80,124
30,648

17,142
260

Total week . .2,180.281 1.764,085
Bame tim e ’ 02.. 2,762,667
88.803

318,358
248,977

lu ik .
b u lk .
128,350
3,825
...........................

bulk.

S sw

47,886
73,841
97,511

13,871

9,881

157,881
107,501

3,825
53,149

0,981

The destination o f these exports fo r the week and since
July 1,1903, is as b e lo w :
Eaport* for

Wfieat.Sinee July

- F l o u r .’

M»«k a n d l i n o
July 1 to—
U nited K in g d om

Week

M a y 9.

bunk

2,190,891 103.287.821 1,764.683 01,830,91s
2,762,557 119,616,765
89,903 24,303.765
grain, com prising the sto ca s lu

T he visible supply o f
granary at th e principal points o f a ccu m u lation at lake and
seaboard p orts, M ay 9, 1908, was as fo llo w s :
W final,

746,000
M ilwaukee.................
DO
afloat..........
r t .w a r m * P t.A rthur 3.044 000
B ulnth........................ 3 374,000
Do
a float.....................
M inneapolis................10,522,0(50
B t.L o u ll...................... 883,000
Do
afloat................... ...
K am a* C ity ...............
758,000
P eoria ..........................
279.000
Indlanapolli................ 2i 4i£nr
On M ln liilp p l H ir e r . 863,000
O n L a k e i..................... 1,676,000
O n e a n a la n d r lv e r ...
64,000
Total
Tota>
Total
Total
Total

May
May
May
May
May

9, 1903.. 32,446,000
2, 1003 . 83,466.000
10, 1902.. 85.S02.Oin
11,1901.. 45.761.000
12, 1000.. 47,081,000

Oirn,
651,000

558,000

I t l,
bu lk.
1,000

235.00U
41,000
694,000
100,000

18,006
248, ICO
157.000

4,000
30,000

225,OOu

870.000
6,000
1,449,000

17,000

33.090

174 000

771,0(50

804,000
...........
14,001

298, lo*

10.300

15,000

14,000

1.774,000

873,009

802 000

b u ifi.

619,000

24,000

O fitl,
b u eh .

439,6oi

2,000

B a r le y

kuik.
105,000

4,000

120 000

1,000

400,000

72.000

85.096

18,000
195,000

434 000
126,000

39 66c
28.000

169,00
4,000

204,'66o
71.000
75.000

'e’i.ooo

1 ,0 4 1 ,0 6 6

0 210,000

6.459.001
5,697,000
17.838.000
16.165.000

206,000

86,000

5,000
837.000
336.000

210,000
00,000

25,0"-

0,302,000
0,230,00C
2.917.000
11,449,000
7.819.000

1902.

Week. Since Jan. 1 ,

1.008

1.105.000
1.149.000

1.340.000
903,000
1.025.000

68

3
367
33
335
1 ,4 9 3
148

984
587
9 0 ,3 5 7
5 ,5 9 4
1 4 ,8 7 0
3 ,8 2 1
1 1 ,9 2 9
1 ,0 3 7
4 ,0 6 3
2 4 ,1 9 3
3 ,9 8 8

61
5
6 ,0 1 8
285
926
434
262
36
229
483
592

981
588
5 3 ,0 1 6
8 ,2 3 9
8 ,1 8 5
4 ,2 6 4
9 ,4 2 0
967
2 .9 6 0
1 7 ,9 1 8
4 ,9 9 1

2 ,6 1 8

1 6 7 ,4 2 3

9 ,3 3 3

1 1 1 ,5 2 9

61
110

1, 1908,

T o ta l................ 318,838 14,297.747
T otal 1981-03.... 248,977 18.890.818

ln it in a lbuth.
761,000
New Y ork ...................
Do
afloat..........
102,000
■ o it o n ............... .
50,000
Philadelphia..............
218.OOC
Baltimore..................
New O r le a n i...,..—., 1.224.000
1.183.000
632,OOC
M ontreal........ ...
34,000
Bnflalo......................... 1.216.000
Do
afloat.. . . . .
448, OOC
T oledo ........................
Do
afloat..........
244.000
D etroit............ ............
T*n
afloat..........
Chicago........................ 6,014.000

T o t a l _____. . . . ________ . . . .

Since July

949.776 35,088,433
685,748 80,800,121
9,101
148,973
16,730
691,946
740
2 23,503
102,590
993.934

W n t I n d le i........
B r .N .A m .C o lo ’ l
O th e r o o n n t r le i

1903.

Week. Since J a n . 1 .

M a t 11.

to

A r a b i a ____________ _________
A f r i c a ................... . . ......................
W e s t I n d i e s . . . ..................... .......
M e x i c o . . _______ ________ _____
C e n t r a l A m e r i c a ........ ..............
s o u t h A m e r i c a — __________
O t h e r O o u n t r l e s . — ...............

-------------C o r n ,-------------

buefi.

Continent...........
B. 4k O. A m erica,

obk

a r e a s B r i t a i n ________ _______
O t h e r E u r o p e a n . . . , , . ________
C h i n a ............ ................ ...................

18,080

86

1,838
3,000
3,685

Y

23,000
1,281,000
1,242.700
818.000
719 W0
953,000

THE DRY GOODS TRADE.

T he v a lu e o f these N e w Y o r k e x p o r ts since Jan. 1 to date
has been $6,976 020 In 1903, a g a in st $5,069,429 in 1902,
The dem and fro m the hom e trade fo r b row n sheetings and
drills has not called fo r any q u a n tity o f m erchandise and
there has been no exp ort business o f any account. T he m ar­
ket is firm in tone, although there is evidence in som e quar­
ters o f stocks accum ulating, Bleached cottons are in steady
request fo r sm all quantities. Stocks are ligh t and the m ar­
ket firm . B lackstone 4-4 advanced
per yard.
W ide
sheetings, sheets and p illow casee are unchanged. Cotton
linings are dull th rou gh ou t, but steady. The demand for
du cks is lim ited at previous prices. Supplies o f coarse,
colored cottons are lim ited aad the m arket firm fo r all d e­
scriptions, with a quiet demand com in g forw ard. Sales o f
printed calicoes are on a m oderate scale, but the stocks in
first hands are lim ited and prices steadily m aintained. Fine
wash goods continue slow . There is n o change in the gin g ­
ham situation. The prin t cloth m arket is d u ll but steady on
the basis o f 3J^c. for regulars. W id e good s are firm and in
fa ir demand.
F oreign D r y G oods .—There has been no change in the
m arket for im ported dress goods, a quiet dem and com ing
forw a rd at steady prices. There has te e n no change in silks
or ribbons. Linens are quiet but firm and burlaps quiet but
barely steady.
I m p o r ta tio n s a n d W a r e h o u s e W it h d r a w a ls o l D r y G o o d s

The im portations an d w areh ou se w ith d ra w a ls o f d ry goods
a t th is p o rt fo r the w eek en d in g M ay 14, 1903, and since
January 1, 1903, and fo r th e corresp on d in g periods o f last
year are as fo llo w s:
H
o
c*
m
a
©5
O

xrta

a

s P r ilg
i !
in i

is
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s i
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o

•

a
o

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•

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N « w Y o r k , F r i d a y , P . M ., M ay 15, 1903.
Curtailm ent is being freely talked o f at F all R iver, it was
advocated at the annual m eeting o f Southern Spinners held
at Charlotte, N . C. yesterday, and individual m ills are re­
ported resorting to it at various points. There is no evidence
that it is as yet im portant, but the prevailing in dication s
point to a large cu t-d ow n in the m anufacture should present
conditions continue. There is no evidence o f an y im pending
change in these. The influence o f the still advancing cotton
m arket is all one sided in so far as it stiffens sellers w ith ou t
causing buyers to depart from the hand-to-m outh p olicy they
have been pursuing o f late. This w eek’s dem and has again
been light in all departments. Buyers are filling-in positive
needs and these are quite m oderate, their interest in forw a rd
business being confined to bids, w hich are often ridiculou sly
lo w in view o f possibilities, or to apparently purposeless in ­
quiries, • T he m arket is thus dull but firm in tone, w ith no
quotable price changes o f any m om ent. The w oolen goods
division has rule quiet throughout and considerable m a­
chinery is lyin g idle, ow in g to unsatisfactory results up to
date. Silk m ills also are shutting d o w n 4from lack o f suffic­
ient demand.
W oolen G oods .—A n increase in the num ber o f orders
com in g forw ard has been noted this w eek but the dem and
still fails to reach satisfactory proportions or to give
evidence o f supplem entary bu yin g o f im portance setting in.
The ch ief dem and is fo r w oolens, bu t a alight increase has
been seen in the call fo r clays and serges. W oolen goods fo r
m en’s w ear are generally steady and an occassional line has
been slightly advanced. W orsteds sh ow considerable irre g ­
ularity and the bulk o f the idle m achinery is in w orsted
m ills. Stocks on hand are very easy to bu y and som e are

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§

THE CHRONICLE.

Ma t 10, 1903,]

1099

Avalon, Allegheny County, P a .—Bond Offering.— P ropo­
sals will be received nntil 7:30 P. M., Jane 4, by E. E. C os­
tard, Secretary, for $10,000 street, $5,000 sewer, $25,000 bor­
ough-hall and $15,000 funding street and sewer 4% bonds.
Date. July 1, 1908. Interest semi-annually, free o f all tax.
Certified check fo r $3,000 required.
Buker City, Ore.—Bond Offering.— Proposals will be re­
An index to all the news matter appearing in this Depart­
ment for the period from Jan. 3, 1903, to March 28, 1908, in ­ ceived nntil 4 P. m., May 26, by W . H. Bentley, City Clerk
clusive, was published in the C hronicle o f April 4, 1903, and A uditor, fo r the follow in g bondB :
(48,000 5* 20 year city-hall bonds. Denomination, not less than |1CC. Certi­
pages 774, 775 and 776.
fied check for 12,600 required.
S

t a t e

a n

®

C

it y

U

e

w

t

m

e

n

t

.

Index.

12,000

News Items.
C onnecticut.— Revised C onstitution.—Ettorta are again
making to revise the Constitution o f C onnectioat.
The
House of Representatives in the General Assembly on May
14 adopted a resolution em bodying, it is stated, all the
changes in the Stste Constitution determined upon by the
Constitutional Convention o f last year, and which, when
submitted to a vote of the people, were rejected. The rejec­
tion is supposed to have been due to the unpopularity of the
changes in the clause regarding representation, and accord ­
ingly these changes are now to be left out,
Under the existing Constitution, amendments must pass
the House of one Legislature bv a m ajority vote and both
houses of the follow in g General Assembly by a two-thirds
vote before they can be submitted to the people.
Illinois.—Legislature A djourns.—The State Legislature
adjourned May 7, 1903.
M ontana.—Special Session o f the State Legislature —T he
G o vernor has called the Legislature in special session for
the purpose o f appropriating money for a State exhibit at
the Louisiana Purchase Exposition to be held in St. Louis
in 1904 and for the Lewis and Clark Exposition to be held in
Portland in 1905.
San F rancisco, Cal.—Municipal Ownership o f G eary Street
R ailroad.—A ccordin g to the San Francisco ‘ ‘New s Bureau”
the Supervisors have finally passed an ordinance declaring
that public interest demands the acquisition by the city o f
the G eary Street road on the expiration o f the present fran­
chise in Novem ber, 1903. The ordinance directs the Board
o f W orks to estimate the cost o f reconstructing the system.
The next step incum bent upon the Supervisors under the
Charter. Section 7, A rticle x ii., according to the “ News
Bureau,” is to call a special election, at w hich only the ques­
tion of voting bonds can be submitted. The charter declares
that the kind of bonds shall be those known as serials, and
not lees than one-fortieth part o f the whole debt ehall be paid
each year. These bonds are to be exem pt from taxation for
municipal purposes and shall be in denominations o f not less
than $10 nor greater than $1,000.
Wisconsin.—Bills Vetoed.— The G overnor has vetoed a
bill, passed by the Legislature, which sought to,legalize the
issuance of bonds put out by municipalities w ithout a vote of
the people.
The G overnor disapproves o f the measure
because it deprives the people o f the valuable right o f passing
upon proposed bond issues. The G overnor also vetoed a bill
w hich gave to La Crosse the right to borrow $100,000 for anew
high school building because it did not contain the provision
that the question be first subm itted to the voters.

Bond Proposals and NegotiationsthiB
w eek h a ve b e e n as fo llo w s :
A lbany (M o.) S ch ool D is trict.— Bond Offering.—P ropo­
sals w ill be received until 4 p. m ., May 20, by R . M. McCammon, Secretary, for $8,000 6% bonds. Denomination, $500.
Date, May 1, 1903 Interest annually at the Gentry County
Bank of Albany, Maturity, May 1, 1911; su bject to call
$1,000 yearly. Certified check for
o f tne amount o f bid
required. The district has no other debts. Assessed valna
tion, $773,130; real value about $1,400,000.
A lex an d ria Bay, N. Y.—Bond Bale.—This village has sold
an issue of $30,000 w a t e r anil $40,000 sewer 4% 30-year bonds
to Isaac W . Sherrill of Poughkeepsie at 101’50.
A lex a n d ria (iD d .) S ch ool D istrict.—Bonds Not Sold.—
This district offered for sale on A pril 15 $25,000 5g school
warrants, but did not sell the same. Date o f warrants,
June 1, 1903. Interest, semi-annual. M aturity, $3,000 yearly
on Nov, 10 from 1904 to 1910, inclusive, and $4,000 on N ov. 1,
1911.
A llegan , M ich.— Bond Offering.— Proposals w ill be re­
ceived until 6 p. m , May 18, by Chas. F. Davison, V illage
Clerk, for $4,000 4% electric-light bonds.
Dencm ination,
$1,000. Date, April 6, 1903. Interest semi-annually in Jan­
uary and July at office of V illage Treasurer. M aturity, $1,000
yearly on July 15 from 1904 to 1907, inclusive.
A m ericas Township, Lyon County, K an .—Bonds Dejeated.
—This township has voted against the issuance o f $15,000
prospecting bonds. A uthority to vote these bonds was
granted by the Legislature o f 1903, as stated in V . 76, p. 823.
A nderson, S. C.—Bond Sale —On May 5 the $40,000 5$ 30year street-im provem ent and echool bonds mentioned in V.
76, p. 989, were awarded to MacDonald, M cCoy & Co., Chi­
cago, at 102-25.
Ashtabula (Ohio) School District.—Bonds Not Sold.—No
bids were received May 12 for the $12,000 4% bonds described
in V. 76. p. 989.
A tlanta, T exas.— Bond E lection.—The City Council has
ordered an election to vote on a proposition to issue $4,000
school-house-addition bonds.

6% 20-yeur sewer bonds.
check for (Ouo required.

Denomination, not less than (HO. Certified

Date of bonds, July 1, 1908. Interest semi-annually at the
office o f the City Treasurer. A ll bids must be unconditional
and the certified checks are to be made payable to the C ity
A uditor and Clerk.
Barrie, Ont.—Debenture Sale.— On M ay 2 the follow in g
debentures, aggregating $25,535, were awarded to H. O’ Hara
& Co. o f Toronto at a premium o f $50 :
11,535
15,000
4,200
8,0( 0
1,800

4J6 drain and sewer debentures. Maturity, part veaily for 5 years.
4X sidewalk and mad debe mures. Maturity, part yearly for 20 years.
sjt electric-light debentures. Maturity, part yearly for 20 years.
4$ water debentures. Maturity, part yearly tor 30 years.
4$ electric-light debentures. Maturity, part yearly for 20 years.

B a ttle Creek, M ich.—Bond Offering.—Proposals will be
received until June 30 by the City R e e o id e rfo r $10,000 streetpaving and $15,000 sewer bonds. Interest to be 3, 8 4 or 5
per cent.
B ayoune, N. J.— Bond Offering.— Proposals will be received
until 8 p. M., May 19, by the City Council, for $89,000 4%%
gold water bonds. Date, July 1, 1908. Interest, Jan. 1 and
July 1. M aturity, July 1, 1923. W . C. Ham ilton is City
Clerk.
B ish op ville (S . C.) S ch ool D istrict.— Bond Sale.— This
distriot has sold an issue o f $7,000 5% 20-year school bonds to
Robinson-H um phrey Co. o f Atlanta at 100-30. Date, May 1,
1903. Interest, annual.
Blackhawk County (P. 0. Waterloo), Iowa.—Bond Sale.
—On May 7 $60,OUO 4% fnodiDg bonds were awarded to Mac­
Donald, M cCoy & C o., Chicago, at 100T38, accrued interest
and blank bonds. F ollow in g are the bids :
MaoDonald,McCoy&Co..iChl..+*t60.C83 i Denison, Prior & Co.. Cleveland and B oston.....................+(60,102
W. J. Hayes & Sous, Cleve....... +(50.197
------i F. L. Fuller Jt Co., Cleve........... .80,2(50
* And blank bonds.L+ And accrued interest. t A ccrued interest not to be
added.

Denomination, $1,000. Date, May 1, 1903. Interest semi­
annually in Chicago. M aturity, May 1, 1918; subject to call
after May 1, 1908.
Bloomfield (Iowa) School District.—Descript ion o f Bonds
Sold.—W e stated last week that an issue o f school-house
bonds had been sold. These bonds, we are now advised, ag­
gregated $21,000, and wereipurchased at par t*y John Nuveen
& Co. o f Chicago Denomination, $5C0. Date, A pril 15,
1908. Interest 4)^96, payable semi-annually. M aturity, A pril
15. 1913; optional after A pril 15, 1908.
B lue Township, Jackson County, Mo.—Bond Offering.—
Proposals w ill be received until 12 M., June 1, by J. L.
Phelps, County Clerk, P. O. Kansas City, for $100,COO 4i
refunding bonds. Denomination, $1,000. Date, July 1, 1903.
Interest, semi annually at office o f County Treasurer. Ma­
turity, July 1, 1923, su bject to call after July 1, 1908. C er­
tified check for $5,000 payable to Jackson County required.
B o liv a r (M o .) Sch ool D istrict.— Bond Offering.—P ropo­
sals were asked for until yesterday (May 15) by T. H. B. Dunnegan, President o f the Polk County B m k , and w no is also
District Treasurer, for $8,000 4%% bonds. Denomination,
$500. Interest, semi-annual. Maturity, 20 years; su bject to
call $1,100 yearly atter five years.
B oone County, Io w a .—bon d Offering.—Proposals will be
received nntil 10 A . M ., May 21, oy 8 . A . Bengtson, County
Treasurer, for $15,0u0 5$ 5-year poor-farm and insane-asylum
bonds o f $1,000 each, dated Jan. 1, 19u3; also fo r $10,000 4%
funding bonds o f $500 each, dated A pril 1. 1903, and m atur­
ing in 10 years, su bject to call on 30 days’ notice. Interest
on both issues w ill be payable semi-annually at the office of
the County Treasurer. Certified check fo r $100 required
w ith bids.
B ou ld er (Colo.) School District.—Bonds Voted.—B y a
vote of 225 to 9, this district recently authorized the issuance
o f $30,000 school-building bonds.
B ritish C olum bia.—Debentures Not Sold.—W e are ad­
vised that the $204,000
dykiDg debentures, the sale of
which was advertised to take place on April 20, were not
sold, the Government having withdrawn the debentures from
the market. F or description o f securities see V. 76, p. 716.
Buffalo, N. Y.—Bonds Proposed.—The Finance Committee
o f the Board o f Alderm en has voted unanimously to report
in favor of a bond iesne o f $400,OCO at
to take up out­
standing time warrants
Bond Sale.—On May 9 the $100,000
1-20-year (serial)
refunding bonds described in V. 76, p. 990, were awarded to
N. W . Harris & Co., New Y ork, at 100-33. The $383,823 84
3)^4 grade-crossing bonds offered on the same day were not
sold.
C aledonia (N. Y.) S ch ool District.—Bond Offering.—P ro­
posals will be received until 8 p . m ., May 25, for $20,000 4%
1-20-year (serial) school house-addition bonds. Denomina­
tion, $1,000. Interest will be payable in Caledonia.
Camden. N. J.—Bond Offering.—Proposals will be received
nntil 8 p. M,, May 18, by Charles Laird, Chairman of Finance
Committee, for $75,000 4% repaving bonds. Denomination,
$1,000. Date, June 1, 1903. Interest, semi-annual. Matu­
rity, June 1, 1933. Certified national bank check for 5$ of

1100

THE CHRONICLE

the amount of bonds bid for, payable to R. R . M iller, City
Treasurer, required.
Canandaigua, N. Y.—Bonds V oted.—The $209,000 streetpaving bonds were authorized by a vote o f 468 for to 193
against at the election held M ay 5. N o details o f these
bonds have yet been decided upon.
Canton (T o w n ), Conn.—Bond Offering.—A t a special town
meeting held May 5 the Selectmen and Treasurer were au­
thorized to issue $20,000 4£ 20 year tow n hall bonds to be dated
June 1, 1903. Proposals fo r these bonds will be received un­
til 12 m ., May 26, by J. H, Bidwell, T ow n Treasurer (P. O.
C ollinsville). Denomination, $1,000. Interest semi-annually
at the Canton Trust Co. of Collinsville.
Cape May, N. J .—Bond Sale.— It is stated that the $125,000
41 /2 $ 30 year im provem ent bonds offered but not sold on
A pril 21 have been disposed o f to J. Pemberton N ew bold.
Carthage, Tenn.—Bond Offering.—Proposals w ill be re­
ceived until May 25, by W . V. Lee, City Clerk, for $50,000
5% toll-bridge bonds. Denomination, $1,000. The city has
no bonded or floating debt. Assessed valuation, $300,000;
real value about $500,000.
Cham paign S ch ool D istrict No. 71, Cham paign County,
111.—Bond Offering.— Proposals w ill be received at any time
b y Joseph Carter, Secretary Board o f Education, for $22,000
4^ bonds. A uthority, election held March 30, 1903. Denom ­
ination, $500. M aturity, $2,500 yearly, beginning July 1,
1915. Bonded debt o f the district, $33,500. Assessed valua­
tion for 1902 was $1,846,616.
C harlotte, N. C.— Bond Offering.—Proposals w ill be re­
ceived until 12 H., May 21, by C. M. Etheredge, City Treas­
urer, for $100,000
30 year funding bonds. Denom ina­
tion, $1,000. Interest January 1 and July 1 in either New
Y ork City or in Charlotte. Certified check for $500, payable
to the City Treasurer, required.
C h arlottesville, Va.— Bend Sale.—It is stated that the
$70,000 4£ street im provem ent bonds offered but not sold on
A pril 15 have been disposed of at par. F or description of
bonds, see V . 76, p. 555.
Chester, P a .—Temporary Loan A u thorized .—The City
Councils have decided to borrow tem porarily the sum of
$20,000.
Chester (T o w n ), W. Ya.—Bond Offering.—Proposals w ill
be received until la m ., May 25, by O. O, Allison and G. D.
Ingram, Bond Commissioners, fo r $22,0C0 5g bonds issued
fo r the purpose of paying the present indebtedness o f the
tow n and for the payment o f toe expense o f paving and
storm -sewering certain streets. Denomination, $1,000. Date,
May 1, 1903. Interest annually at the First National Bank
o f East L iverpool, Ohio. M aturity, May 1, 1937; subject
to call after May 1, 1913. A ocrued interest to be paid by
purchasers. Certified check for $100 on some national bank,
payable to the Bond Commissioners, required.
C hicago (111.), South P a rk .—Rond Election.—The South
Park Commissioners have decided to subm it to the voters in
June the question of issuing $3,000,000 bonds.
C hinook, Chouteau County, M ont.—Bonds Voted.—This
tow n has voted to issue $26,9u0 water-works bonds. Inter­
est not to exceed 6s, payable semi-annually. M aturity, 20
years; su bject to call after 15 years. Date o f sale not de­
termined.
C incinnati, Ohio.—Bonds A uthorized.— The Board o f L eg­
islation on A pril 20 authorized the issuance o f $40,000 4£
city-hall-repair bonds. Denomination, $500. Date, June 1,
1903, Interest semi-annually at the Am erican Exchange
National Bank of New Y ork City. Maturity, June 1, 1913.
Bond Ordinance.—An ordinance recently passed the City
Council providing for the issuance o f $1,000,000
50 year
park bonds under the LaDgworth A ct. These are the bonds
authorized February 2 by the old Board o f Legislation. The
present action is taken iu order to rem ove all doubt as to the
legalitylof the bonds and to prevent any delays that m ight
be occasioned by litigation concerning the authority o f the
old board to authorize the bonds. Date o f bonds, Ju ly 1,
1093. Denomination, $500.
Bond Sale.—The sinking fund o f this city since the first o f
January has purchased the follow in g bonds at par : $10,000
4$ 20-year viaduct bonds, dated March 1, 1903; $18,500 H 30year G lenw ood Avenue bonds, dated A pril 1, 1903, and $74,357 4% street-assessment bonds, payable at various dates.
Cleveland, Ohio.— Bond Offering.—Proposals w ill be r e ­
ceived until 12 M., June 15, by J. P. Madigan, City A uditor,
fo r the follow in g coupon bonds :

[V

ol.

L X X V I.

ment bonds advertised at pu blic auction for May 9 was “ ad­
jou rn ed ” until 12 M., May 23. F or description o f bonds see
Y . 76, p. 990.
C olorado Springs, C olo.—Bonds Not Sold.—W e are a d ­
vised that all bids received May 4 for the three issues o f 4%
gold water-extension bonds, aggregating $409,000 and de­
scribed in V. 76, p. 936, were rejected. Mr. M acM illan, the
City Clerk, adds that the bonds w ill not ba re advertised at
present, as several propositiocs have since been submitted
fo r their purchase.
Bond Sale —This city has sold to Ord & Swope, con tract­
ors, $21,708 6% 1 10 year (serial) Cascade A venue im prove­
ment bonds in payment for work done. Denomination, $500.
Interest, January 1 and July 1.
Comanche County, T ex a s.—Bond Sale.—The $30,000 jail
bonds mentioned in V. 76, p. 936, have been sold at par to
the 8tate Permanent School Fund o f Texas.
C ordell, O kla.—Bonds Voted.— By a vote o f 175 for to 54
against, this city on A pril 20 authorized the issuance o f $25,000 6% water-works bonds.
C orin th , S aratoga County, N. Y.—Bond Offering.—P ropo­
sals w ill be received until 1 p . m ., May 20, by Edward A rgy,
V illage.C lerk, fo r $25,000 registered sewer bonds. Denomi­
nation, $1,000. Date, June 1, 1903. Interest is to be named
in bids, but must not exceed 5£, and w ill be payable sem i­
annually at the United States M ortgage & Trust Co., N ew
Y ork City, w hich com pany w ill also certify as to the genu­
ineness o f the bonds. M aturity, $1,000 yearly on Jane 1 from
1908 to 1932, inclusive. The legality o f the bonds has been
approved by J. H. Caldwell o f N ew Y ork City, Certified
ch eck on a national bank for $2,500, payable to Carl A .
D iedrich, V illage Treasurer, required. Bidders m ost use
printed form o f proposal furnished by the City Clerk.
The official notice o f this bond offering will be found
among the advertisements elsewhere in this Department.
C reighton (N eb .) S ch ool D istrict.—Bonds D efeated.—This
district on A pril 24 voted against the issuance o f $12,000
school bonds.
Crow W ing County (P . O. B ra in e rd ), M in n .—Bond Sale,
— On May 5 the $15,000 A.% 20-year refunding court-house
bonds were awarded to F. L. Fuller & C o., Cleveland, at
101*40 and interest. F ollow in g are the bids :
F . L . F u lle r & C o ., 4 s...................... #15,210 | S to d d a r d . N y e & C o., 6s................. $15,800
C. H . C offin . 5 s ................................... 1 5 ,7 5 1 1 S e a s o n g o o d & M a y e r , 4s ............... *16,000
* L e s s $400 f o r b o n d b la n k s a n d a t t o r n e y ’ s fe e s .

C um berland County (P . O. F a y e tte v ille ), N. C.—Bonds
D efeated.— This county has voted against the issuance of
bonds for gravel roads.
Cuyahoga F a lls, O h io.—Bonds Proposed.—Mayor E, M.
Y oun g, in his inaugural address, recently recomm ended the
issuance o f $50,000 bonds to purchase sites for new factories
and to encourage industries to locate in this place,
D anbury T ow n sh ip (O h io ) S ch ool D istrict.—Bonds E n ­
joined .— Tbe Toledo “ Blade” recently contained the fo llo w ­
ing :
PORT C l i n t o x , O h io , A p r il 85.—A t th e A p r il e le c t io n t h e r e s id e n t s o f D a n ­
b u r y T o w n s h ip v o t e d o n t h e p r o p o s it io n t o b o n d t h e t o w n s h ip f o r $ l 0 . 0 0 u t o
e r e c t a n e w h ig h -s c h o o l b u ild in g , a n d t b e p r o p o s it io n c a r r ie d . T o - d a y a r e s i­
d e n t t a x p a y e r a p p lie d f o r a n in j a u c t io n t o r e s t r a in t b e B o a r d o f E d u c a t io n ,
T o w n s h ip C lerk a n d t h e C o u n t y A u d i t o r f r o m is s u in g t h e b o n d s . T h e r e s tr a in in g o r d e r w a s g r a n te d .

Deadwood (S. D ak.) S ch ool D istr ic t.—Rond Issues.—W e
are advised that o f the $34,000 school bonds voted at the elec­
tion held A pril 21, $30,000 w ill be sold to the State School
Fund and the remaining $4,010 will be issued as part pay­
ment for additional grounds purchased. Date of bonds, July 1,
1903, Interest 5%, payable at the office o f the County Treas­
urer. Maturity, July 1, 1903.
De K a lb County, T cud .—Bond Election A uthorized.—This
county has legislative authority to hold an election to vote
on the question o f subscribing $150,000 to the capital stock
o f an electric railway to be built to Smithville, Tenn., from
some point not yet determined.
D ick in son (N . Dak.) Sch ool D istrict.—Bonds Voted and
Sold.—This district on May 1 voted to issue $15,000 4g school
bonds. These bonds, w e are advised, have been sold to the
State at par.
D urango, C olo.— Bond Offering.—Proposals w ill be re­
ceived until May 19 by C. L. Russell, City Clerk, for the re­
funding o f $105,500 6% 5-15 year (optional) water bonds dated
$500,000 4* intercepting sew er bonds, m aturing J une 1,1922.
N ov. 1, 1897.
40.000 41
$65,000 4%
$ lO.uOO 4% 1
East L iv e rp o o l, O hio.—Bond Offering — Proposals w ill be
60.000 41
2 o.o 00 4%
20,000 4 1! City o f Cleveland sewer district b onds;
76.000 41
110.000 41
35.000 41 f all 12 issues m aturing Ju n e 1, 1925.
received until 12 M., June 1, by W illis Davidson, City Clerk,
15.000 4%
10 000 4%
15,000 4t J
200,000 41 electric-ligh t and p ow er-plant bon d s, m aturing J une 1, 1925.
fo r the follow in g 6% im provem ent bonds, aggregating
Denomination, $1,000. Date, June 1, 1903, Interest semi­ $32,701 11:
,_____ A m o u n t P a y a b l e E a c h Y e a r . -------- >
1908.
annually at the Am erican Exchange National Bank, New
1906.
1907.
1904.
1905.
$194 00
$173
$183
$163
$R67 00 S u g a r A lle y b o n d s * ............. ... #164
York City. A certified check on a national bank for 5i o f
111 11
99
105
93
S8
494 11 B aldw in A lle y bon d s*....... . .
amount bid for, payable to the order o f the “ Treasurer o f
2.244 00 1
503 00
474
422
447
bonds
City of Cleveland,” required. Bids must be made on blanks
693 00
49s
660
628
2,649 00 <
213
228 00
2ul
.. 179
lf.9
obtained from City A uditor. Purchaser to pay accrued in ­
1,008 OO i
377 00
366
317
336
• . 294
1,685
00
1
terest.
2,220
2,351 00
..1,864
1,976
2,095
10,500 no '
§2,349 00
2,960
. 2,490
2,610
2,798
C lin ton County, K y .— Bond E lection.—A t the N ovem ber 13,243 00 <
election this county w ill vote on the question o f issuing
D a t e o f b o n d s — * F e b . 1, 1903; + A p r il 1, 1903; X J u n e 1 ,1 9 0 2 . § T h e $2,349
m a tu r e s J u n e 1 ,1 9 93 .
court-house bonds.
Interest on all the above issues w ill be payable annually at
C lond County, K an.—Bond Election.— This county, it is
stated, w ill vote on the question o f issuing $20,000 bonds in the office o f the City Treasurer. A ccrued interest must be
paid by purchaser. Certified check on a national bank for 5%
aid o f the Nebraska Kansas & G ulf Railw ay.
Cohoes, N. Y.—Bond Sale A djourned.— W e are advised o f bid must accom pany proposals for eaoh issue. These bonds
that the sale of the $39,000 3>£g registered public-im prove­ were offered but not sold on A pril 22.

THE OH HONICLK.

May 16, 1903.]

Elmwood Place, O h io.—Bond O fferin g — Proposals will be
received until 12 m ., Jane 13, by H. G. Schaefer, Village
Clerk, at the office o f Scott Bonham, A ttorney, 619 Main
Street, Cincinnati, for $0,500 5 % 1 10-year (aerial) Tow nship
Avenue im provem ent bonds. A uthority. Sections 2207, 2303
and 2304, Revised Statutes o f Ohio. Denom ination, $050.
Date, May 9, 1903. Interest annually at the First National
Bank, Elm w ood Place. Certified check for 6% o f amount of
bid required. A ccrued interest to be paid by purchasers.
Elw ood, In d.—Bond Sale.—The City C ouncil, according to
local reports, has passed an ordinance providin g fo r the issu­
ance of $45,000 5% refunding bonds to P. S. B riggs & Co.,
Cincinnati,
Ensley, A la.—Bids Rejected—Bonds Re-offered.—H o satis­
factory bids were received May 7 for the $»5,000 5i 20-year
bonds (three issues) described in V. 70, p. 879. New bids
were asked for until Thursday night last (M ay 14), but with
wbat result w e are not yet advised.
F a irb u ry (N eb .) Sch ool D istrict.— Bond E lection .—An
election will be held May 25 to vote on the question o f issu­
ing the $25,000 4%<t 10-20-year (optional) building bonds men­
tioned i n the C h r o n i c l e May 2.
F a irfa x S ch ool D istrict, M arin County, C al.—Bond Sale.
—On May 4 $2 500 6£ school bonds were aw arded to N orbert
Matter at 111‘36. F ollow in g are the bids :
N orb ert M a tter...........................*2.78* 00 I H ea zelton & C o ........................ * 2 /2 5 00
G eo. T . W h ite ............................ 2,066 00 |lirai.y It. Du Hois....................... 2,578 12

Denom ination, $5C0. Date, M ay 11, 1903.
ally at the office of the County Treasurer.yearly on May 1 from 1909 to 1918, inclusive.
F a ll R iv er, Mass.—Bond Sale.— The city
L. Day & C o., Boston, on private terrne,
bonds:
1115,000 .114% 10-year highw ay loan.
25.000 SHS 10-year p aving loan.

" I *60,000
! 20,000

Interest annu­
M aturity, $500
has eold to R.
the follow ing

SO-year sew er loan.
30-year w ater loan.

Bonds are all dated A pril 1, 1903. Interest semi-annually
by check. Denomination, $1,000. These bonds were offered
but not sold on March 25.
F ayetteville, N. C.— Bonds Voted.— This place on May 4
voted to issue $40,000 water-works bonds.
F in d lay, O h io.—Bonds A uthorized.—The Common Council
has authorized the issuance o f $10,000 5% W est C rawford
Street paviDg bonds. Date, June 1, 1903. Denomination,
$1,000, Maturity, $1,000 yearly from 1904 to 1913, inclusive.
Interest semi-annually at the office o f the City Treasurer.
F ord, M ich.—Bonds to be Issued.—This village proposes to
issue $21,081 43 30-year water and $5,200 20-year electriclight bonds at interest not to exceed 5*, payable annually in
Detroit. Date o f sale not yet determined.
F red erick , M d.—Bond Offering.— Proposals w ill be re­
ceived until 12 M., June 2, by Geo. Edw . Smith, Mayor, and
the Board o f Alderm en, fo r $493,000 3*4% refunding bonds.
A uthority, Chapter 15, Law s of 1902. Denominations, $1,000,
$500 and $100, to suit purchasers. Date, July 1, 1903. In­
terest, semi-annual. M aturity, July 1, 1933; subject to call
after July 1, 1918. Certified check fo r 5£ o f the gross amount
o f bid required. Bonds are exempt from all county and mu­
nicipal taxes.
The official notice o f this bond offering will be fou n d among
the advertisem ents elsewhere in this D epartm ent.
F ulton (M o .) S ch ool D istrict.—Bond Offering.—Proposals
w ill be received until 4 p . m ., May 20, for $10,000 4*4% school­
building bonds. Denomination, $500, Date, July 1, 1903.
Interest semi-annually at the Merchants’ Laclede National
Bank of St. L ouis. M aturity, July 1, 1923; optional after
July 1, 1908.
G allon, Ohio.—Bonds A uthorized .—The City Council has
authorized the issuance of $4,500 4% fire-engine bonds. De­
nomination, $500. Date, May 1,1903. Interest, semi-annual.
M aturity, $500 yearly on May 1 from 1904 to 1912, inclusive.
Garden Grove (I o w a ) In d ependen t S ch ool D istrict No. 1.
—Bond Sale.— This district has sold an issue o f $7,500 5#
school bonds to C. S. Stems o f Garden City at par. Bonds
are in denomination o f $500, dated June 1, 1903. Interest,
semi-annual.
Geneva, N. Y.—Bond Offering.— Further details are at
hand relative to the offering at 8 p . m ., May 18, o f the $46,500
bonds. Securities are as follow s ;
*20,250 i% street-im p rovem en t b ond s (c it y ’s sh a re!. D en om in a tion . *500. ex­
cep t od6 *260 b ond. M aturity. *1.000 yearly ;on A p ril 1 from 1904 to
1922, inclusive, and *1,260 on A pril 1 , 1«23.
15.250 4* street im p rovem en t bonds (p rop erty ow n ers’ share). D en om in a ­
tion . *600, e x ce p t on e *260 b ond. M aturity, *1,500 yearly on O ct. 1
fro m 1903 to 1911, Inclusive, and * '5 0 on O ct. 1 , 1912.
11.000 8V$% dre-d ep artm en t bonds. M aturity, on e bond lo r *1,100 yearly on
A pril 1 fro m 1904 to 1913, inclusive.

1101

Southold Savings Bank......... *23,320 00 I E. D. Shepard Sc Co.. N. Y . . . .*22.157 00
8 A. Kean. Chicago................24.484 on | w . J. Hayes A -OUs. C leve... Zk.ooilHO
N. W. H a r r i s A Co.. N. V
22,810 C6 I W. K.Todd X Co., New York. 22.000 00
Seasoupood & Mayer, C ln .... 22,388 30 |
t

G reenw ood, S. C.— Bond Election.— An election will be
held in this city to vote on the question o f issuing $18,000
school-building bonds.
Griffin, S pauldin g County, Ga.—Bond E lection,— An elec­
tion w ill be held June 10 to vote on the question o f issuing
the follow in g bonds :
*35,000 i t light and water bonds, maturing yearly on Jan. 1 as follows: (1.000
from 1912 to li>17. Inclusive; *3.0ou from 1918 to 1927, inclusive, and
*3.000 from 192b to 1x30. Inclusive.
05.000 i% sewer bonds, mnturlnc yearly on Jan. 1 as follows: *3,000 from 1918
to 1923, Inclusive; *1,900 Iroin 1924 to 1926, inclusive: *5,000 from 1927
to 1930, Inclusive.

Date o f bonds, Oct. 1, 1903. Interest Jan. 1 and July 1 at
office o f City Treasurer or at the Im porters’ & Traders’ N a­
tional Bank, N ew Y ork City. Thos. Nall is City Treasurer.
G u ilfo rd C ounty (P . O. G reen sb oro), N. C.—Bonds Voted.
—On May 12 this county voted in fa v or o f issuing $300,000
road bonds.
G u lfp ort, M iss.—Bonds to be Issued,—This city proposes
to iesue $40,000 water bonds. Full details not yet deter­
mined.
H ancock County ( P . O. F in d la y ), O hio.—Bond Offering.—
The County Commissioners have authorized the issuance of
$21,500 ditch bonds. These bonds, it is stated, w ill be sold at
public auction at 10 A. m . June 3.
H annibal (M o .) School D istrict.—Bonds Voted.— This dis­
trict recently, by a vote o f 1,102 for to 108 against, au th or­
ized the issuance o f $75,000 new-high-school-building bonds.
H arm ony G rove, G a.—Bond E lection.—An. election w ill be
held May 16 to vote on the question o f issuing $6,000 5% 20year bonds. The proceeds ot the sale o f these bonds, together
with $6,000 insurance on the old school house destroyed by
fire, w ill be used iu erecting a new $12,000 school building.
H a rtford , C onn.—Bond Bills in Legislature.—The House
Committee on Finance has reported favorably a bill author­
izing $1,709,000 50-year Connecticut R iver bridge bonds; also
$300,000 bonds fo r permanent im provem ents in connection
w ith proposed bridge. Interest in both cases is lim ited to 4%.
H olley, N. Y.— Bond S a le — On May 7 the $4,500 4% village­
building bonds described in V. 76, p. 991, were awarded to
the State Exchange Bank o f H olley at 100’222.
H olyoke, Mass.—Bonds Proposed.— The Board o f Aidermen has authorized the W ater Commissioners to petition
the State Legislature for authority to issue $50,000 reservoir
bonds.
H n n tin gton , In d .— Bond Sale,—This city on May 6 sold
$30,000 5% city-hall bonds. The bonds were all subscribed
for by local investors in amounts o f $500 and less.
Independen ce (K a n .) S ch ool D istrict.—Bonds Voted.—
This district has voted to issue $20,000 4% school bonds.
Jackson, J ack son County, M ich .—B ond Offering.— P ro­
posals w ill be received until 8 p . m ., May 18, by the Com m on
C ouncil, for the $100,000 bonds voted at the election held
A pril 0, 1903. Of this issue $70,000 is fo r sewer purposes
and $24,000 for the im provem ent o f Grand R iver. D enom ­
inations to suit purchasers. Interest January 15 and July
15. M aturity, July 15, 1919. Interest not to exceed 4%. C.
E. A ldrich is City R ecorder.
Jefferson City (M o .) S ch ool D is tr ic t.—Bond Sale.—On
May 12 the $80,000 4% 5-20-year (optional) bonds described in
V. 76, p. 937, were awarded to the First National Bank of
Jefferson City at 102.
Lancaster (O h io ) S ch ool D istrict.—D ate o f B ond E lec­
tion.— May 25 has been fixed upon by the Board o f E duca­
tion as the day on w hich the question o f issuing $75,000
school-building bonds w ill be subm itted to a vote of the
people.
Lansdow ne, D elaw are County, P a.—Bids.—The follow in g
bids were received May 8 fo r the $24,000 4% coupon bonds
($4,000 sewer, $8,000 street and $12,000 fire-house) described
in V. 76, p. 991 :
Guaranty Trust Co., Phlla........ 1C6'00 j Dick Jfc Robinson, New York___102-48
I,am preen t Bros. Co., Cleve......103-90 Mason, .Lewis A Co.. Chlcugo... .lOl'OO
Lawrence Baraum X Co., N. Y..103'8t I

Bids were referred to the Finance Committee.
L atrobe, P a.—Bids Rejected.—A ll bids received May 11 for
the $17,500 4*4% 30-year lan d in g and im provem ent bonds de­
scribed in V . 76, p. 1048 were rejected.
Lead (S . D ak .) S ch ool D istrict.— Bonds to be Sold to the
State.— W e are advised that the school bonds recently voted
by this district w ill be taken by the State School Fund.
Le Grand S ch ool D istrict, M erced County, Cal.—Bond
Sale.— On M ay 6 the $8,000 5% 1-16 year (serial) bonds de­
scribed in Y . 76, p. 991, were awarded to Isaac Springer &
Co., Pasadena, at 103’564 and interest. F ollow in g are ihe
bids :

Certified check for $1,000 required w ith bids. Bids to be I. Springer & Co., Pasadena... .*8,285 10 |S. A. Kean, Chicago................*8.016 00
L o u isv ille , Ga.—Bonds Voted.—This place on A pril 14
sent to John H. R igby, Chairman Finance Committee.
Glens F alls, N. Y.— Bond Sale.—On May 11 the $12,000 v il­ voted to issue $20,000 electric-light and w ater-works bonds.
Lynn, Mass.—D escription o f Bonds.—The $30,000 3*4%
lage-hall bonds described In V . 76, p. 990, were awarded to
W . J. Hayes & Sons, Cleveland, at 100‘18 for 4*4 per cents. school and the $55,000 3*4% im provem ent bonds, the sale of
which we recorded several weeks ago, answer to the fol­
Follow ing are the bids :
W . J. H aves & Sons, 4H s............*12,022 |Edm und S eym our & Co., 5 s........*12,072 low ing descrip tion :
school bonds. Date. Jan. 1, 1903. Maturity. Jan. 1, 1913. Interest,
Grand R apids, M ich .—Bonds A uthorized .—The Common *30,000
Jan. 1 and July 1.
_ _
Council has authorized the issuance o f $80,000 water-main- 66.000 3Hit improvement bonds. Date, April 1,1903. Maturity, April 1,1913.
Interest. April 1 and October 1. Bonds are tor the following pur­
extension bonds.
poses : * 30,000 for drainage construction, *5.00o for Little River and
G reenport (T illa g e ), SuffolkJConnty, N. Y .— Bond Sale.—
Strawberry Brook improvements, *10.000 for street crossings and side­
walks and ( lO.OOO tor street Improvements.
On May 12 the $22,000 5-26 year (serial) electric-light bonds
M
am
aroneck, W estchester County, N. Y.—Bond Sale.—
were awarded to the Southold Savings Bank at 106 and inter­
On May 6 the $10,000 5-24-year (serial) street-im provem ent
est for 4 per cents. Follow ing are the bids :

1102

THE CHRONICLE

bonds, described in V . 76, p. 991, were awarded to O’Connor &
K ahler, New Y o rk C ity, at 103 fo r 4 per cents.
M a rs h a ll,, M ic h .— b o n d O ffe r in g .—Proposals w ill be re­
ceived u n til 7 P. M., May 18, by B. L . G ardanier, C ity Re­
corder, fo r $25,0u0 4% paving bonds. D enom ination, $1,000.
M a tu rity , $3,000 yearly. C ertified check fo r $500 required.
M a rs h a ll (Texas) School D is tr ic t .— B o n d Sale.—This d is­
tr ic t has sold $20,000 4f, 5-40 year (optional) school-house
bonds to the State Perm anent School Fund. D enom ination,
$1,000. The above bonds are p a rt o f an authorized issue of
$30,000 and the rem aining $ 1 0 ,000 unsold w ill not, we are
advised, be offered th is year.
M em phis, T e n n .—B o n d s A u t h o r i z e d . —The Legislative
C ouncil on May 9 passed an ordinance p ro vid in g fo r the issu­
ance of $3,500,000 4 i w ater-plant-purchase bonds. D enom i­
nation, $1,000. Date, M ay 1 , 1903. Interest, semi-annual.
M a tu rity , bonds Nos. 1 to 2,000 on M ay 1, 1933; Nos. 2,001 to
3,500 due $50,000 yearly on M ay 1 from 1904 to 1933, inclu s­
ive. As stated in the C h r o n i c l e M ay 2, $1,250,000 o f the
above bonds w ill be sold a t once and the proceeds w ill m a in ly
be used to pay the stockholders of the A rtesian W a te r Co.
fo r th e ir plant. A n othe r $1,250,000 w ill be placed w ith the
Memphis T ru st Co,, as trustee, to provide fo r the redem ption
o f the w ater company’s bonds uue in 1909; the balance
of the issue w ill be held in reserve fo r fu tu re betterments.
See C h r o n i c l e May 2, Feb. 7, 1903; Dec. 20, 1902.
M erced School D is tr ic t, Merced C ounty, C al . — B o n d S a le.
—On M ay 6 the $30,000 5$ 1-20-year (serial) bonds described
in V . 76, p. 992, were awarded to Isaac Springer & Co., Pasa­
dena, at 104*134 and interest. F o llo w in g are the bids:
I. Springer & Co., Pasadena. .131,240 25 | S. A. Kean, Chicago........... $30,030 00
M ic h ig a n .—Bond B i ll s S ig n e d . —The G overnor rece ntly
signed the fo llo w in g b ills :
Springwells—Authorizing $50,000 paving bonds.
Wayne—Authorizing $35,000 water bonds.
Wyandotte—Authorizing $125,uuOsewer bonds,
M ilfo r d , D e l .— B o n d s V o t e d .—T his place on A p r il 27, by a
vote of nearly 3 to 1 , authorized the issuance o f $20,000 streetim provem ent bonds. D etails n o t ye t determ ined by Council.
M in n e a p o lis, M in n .— B o n d O ffe r in g .—Proposals w ill be
received u n til 4 P. M., June 2, by L . A. C ondit, Secretary of
the Board of C ourt House and C ity H a ll Commissioners, fo r
$250,000 4% bonds. D enom inations, $500 and $1,000. Date,
M arch 2, 19'~3. Interest semi a n n u a lly at the fiscal agency of
the c ity in N ew Y o rk C ity. M a tu rity , $12,500 yearly on Jan­
u ary 1 fro m 1914 to 1933, inclusive. Accrued interest to be
paid by purchasers.
B o n d b i l l s .—Tnis c ity has been authorized by the Legisla­
tu re to issue $250,000 bonds to complete the new co urt house
and c ity hall and $150,000 bonds to b u ild an a u d ito riu m .
M in n e a p o lis (K a n .) School D is tr ic t . — B o n d s V o t e d .—This
d is tric t has voted to issue $15,000 high-school-building bonds.
D etails n ot determ ined. Assessed va lu a tio n , $460,946. J. S.
F e lt is C lerk Board of Education.
M ontevideo, M in n . — B o n d S a le .—On M ay 4 the $15,000 53
20-year w ater-w orks bonds described in V . 76, p. 824, were
awarded to the Minnesota Loan & T ru s t Co. o f Minneapolis
a t 106*833. F ollow in g are tne bids :
Minn. Loan A Tr. Co., Minn..$16,025 00 MacDonald, McCoyA Co.. ChlN. W. Harrio ACo., ( For 6g... 16,01650 | cago..............................$15.81100
Chicago............<For 4}*s. 15,094 00 | W. J . Hayes & Sons, Cleve... 15.33(00
F, L. Fuller A Co.. Cleveland. 15,376 6u John Nuveen A Oo„ Chic...* 15,326 >>o
-----I Farson, Leach A Co., Chic... 16.187 50
* And blank bonds.
M ontgom ery, A la .— B o n d O ffe r in g .—Proposals w ill be re­
ceived n n til 12 M., Jnne 8 , by R. S. W illia m s , C ity Treasurer,
fo r $20,500 63 1-20-year (serial) paving bonds.
M orga ntow n, W. Y a .— B o n d s P r o p o s e d .—The School Board
desires to issue $20,000 school-building bonds.
M o rris to w n , T enn.—B o n d S a le .—This c ity has sold $25,OOU 53 10-30 year (optional) fu n d in g bonds to N . W. H a rris
& Co., Chicago, at 102. Denom ination, $1,000. Date, May 1,
1903. Interest, semi annual.
M o u n t Clemens, M ic h .—B o n d O ffe r in g .—Proposals w ill be
received u n til 1 2 h . , M ay 18, by W illia m K ra oh r, C ity C lerk,
fo r $10,000 53 1-10 year (serial) w ater-w orks bonds. D enom i­
nation, $1,000. Interest, annual. Bids w ill be opened at 7:30
p. M,, M ay 18.
Nance C ounty (P . 0 . F u lle r to n ) , Neb .— B o n d s V o t e d .—
T h is oonnty, by a vote of 1,038 fo r to 339 against, rece ntly
authorized the issuance o f $75,000 bridge bonds.
N ashw ank, .Ita sca C ounty, M in n .— B o n d O ffe r in g .— P ro ­
posals w ill be received u n til 1 2 m . , May 19, by P aul H ,
Tvedt, Tow nship C lerk, fo r $12,000 63 6 -year bonds. Denom ­
in a tio n , $1,000. Date, M ay 19, 1903. Interest, semi-annual,
Natchez, M iss . — B o n d S a le .—On May 7 the $150,000 53
w ater and sewer bonds described in Y . 76, p. 992, were
awarded to the B ritto n & K oontz Bank of Natchez a t 100*666.
New Y o rk C ity .—B o n d S a l e .— O n May 12 the $3,000,000
gold corporate stock of this c ity was awarded at an
average price of 104*327—a basis of about 3*32£. J-This is over
fo u r p o in t“ better than the resu lt at the sale of last m onth,
when the basis was about 3*3643. Bonds were awarded as
fo llo w s :
C $1 000 Rapid Transit............. 108-75
Edward Day Parker......................... < 1,000 Rapid Transit............. 107-44
( 1,000 Rapid Transit.............. 106-14
Edgar W, Roovers.............................
60o Rapid Transit..............107 44
Homer G . Newton, Sherburne.............. 2.000 Rapid Transit..............10vi5
Joshua Pratt. Sherburne..................... 5,000 Rapid Transit..............106 50
Elizabeth Huggins.............................
500 Rapid Transit.............. 106 00
Barbour A Co..........................
100,000 Rapid Transit.............. 104*89
(839,000 Rapid Transit.............. 104-299
i 500.(00 docks and ferries......... 104-299
Harvey Fisk A Sons, New York City.... <500,000 schools....................... 104*299
15)0.000 streets........................104-299
1.500,090 aqueduct...... ............. 104*299

[YOL.

l x x v i.

W e give below a c o m p le te lis t of bids received
*1,000.. 108-75
f $500,000 .103-53
E d w ard D . P a rk er. |
1.000.
.107-44
I 500,000 .103-41
B la k e B r o s ............... 0 , 000,000 .103-29
1.000.
.106.14
R
.
L
.
D
a
y
A
C
o
___
E d ga r W . R o o v e r s ...
500.. 107-44
I 500,000 103-17
J o s h u a P r a t t ...............
5.000.
. 1(6-50
l. 51'0.000 103*11
H o m e r G . N e w t o n .. .
2.000. .106-15
f
50,000 .108-25
500.. 106-00
E liz a b e t h H u g g i n s . . .
I
60,00>. .1 0 3 1 3
E d w in S. K a s s l D g ( r e ­
10,0(0 .103-02
100..
105.00
j e c t e d ) .........................
10.000 .102 876
J a s .M c G o v e r n A C o . t
B a r b o u r & C o ............... 100.000 .104-89
10.000. .102-75
H a r v e y F is k A S o n s .3 ,ooo.ono.. i04-2))9
I 30,000 .102-625
500.000. .104.07
l 10,0(0. •lOz’fO
K u h n , L o e b A C o .. J 1 .O00.C00..106-8)
r 100,000. .102*67
F a r s o n , L e a c h A C o . ] 1 ,000,000.. 103-30
100.000. .102-89
500.000. .103-( 3 J o s . W a lk e r A S o n s 100,000. .103*03
S t a n d a r d T r u s t C o . .. 1,,600,000.. 104-0-1
100,000. .108*19
100,000. .103*31
r 750.000.. 103-376
i 650.C00.. 103-50 J o h n S. M c L e a n .......... 40,000 .103*20
550.000.
.
103-C
25
50.000 102*77
F ir s t N a t. B a n k . . . i
460,01/0.. 103-76 J oChon.. D . E v e r i t t A j 60.000 .103*13
850.000. .103.875
50,000 .103-27
250.000. .104-00
100,000 .102-71
60.000. .103-05
100,0(0
.122-89
K n a u t h , N a c h o d & j i o o 'OOO .108 03
9.000.
. 104-00
n ’nnn .103-17
C o ffin A !C o ................. |
60.000.
.103.31 K u h n e ..................... i m100.000
50.000.. 103-21
100,000 .103-32
5<v 00..102 84
100,000 .102-78
1.000.
.104-00
H e n r y W a g n e r ..........
100,000 .102-88
M
i
n
e
t
t
,
R
o
e
A
H
a
I
1W);<1C0
i.coo..H'4-oo
F r a n k lin H . S c h o t t ..
.1 0 3 0 2
A l l e n M c G r a w & C o . . l ,000.000.. 103-98
gen.................. ^ 100,000 .103-14
.113 90
B r e e d A A o b o t t .......... 145.000.
1(0,000 . 103-26
60.000.
.103-77E r n e s t E h r m a n n , T r . 100,000 .103-25
S. F . J o h n s o n A C o ...
D e g in e r B r o s ..............
5.000.
. 103-75
100.000 .102*90
8.000.
.103.75
S. G . B o g e r t ...................
100,000. .103 02
T . W . S te p h e n s
R h o a d e s A R l c b m ’ n d 250.000. 103.71 C o ............................
100,000. .103-15
5.000. .103-09
I s a a c R o g g e n ...............
100,000 .103-27
D o m in ic k A D o m i - ( l , ,000,000..103-639
400.000 .101-13
n ic k a n d W e lle s , •'1,,000,000.. 103-399
600 000 .103-01
GCO.OOO .102-88
H e r r i c k A H i c k s . ( l, ,000,000.. 103-299 V e r m il y e A C o .
.103-671
700,1-00 .102 74
r 100.000.
8 '0,0 0 .1 0 2 6 1
I 100.000. .103-531
100.000. .103-39F r a n k lin T r u s t C o . . . 100.000 .103-12
R o b e r t B .S m it h .... i
100.000. .103-213N . V. S e c . A T r . C o ... 50.000 .103-10
100.000. .103-131
600,000 .1 0 3 0 3
J .& W .S e llg m a n ^
fsoo.OOO 102- 77
C yru s J . L a w re n ce A
90.000. .103-00 ................................; 500,000 .102-62
S o n s ..............
50.000. 102.77M in n ie P . M a n d e U ...
5,000 .108-00
50.000. .113 67
D e n is o n ,P r i o r A C o
60,000 .103-00
50.000. .103.37S. W . W h i t s o n ..........| 50.000 .102-00
•
S
B r o o k l y n T r u s t C o . . . 500.000. .103 £2
H a r r i n g t o n A E l l i s . ..
50.000 103- 00
10.000.
.103-50
R .S t . G e o r g e W a lk e r .
f 200,000 .103-02
f 200.000..102.01 U n it e d S ta t e s M o rt- 200,000 102-71
ZOO.i 00..102-15
.102-41
a Tmsrco:
^.ooo. .102-18
1C0.000.. 102-25
100,(00..
i
02-75
.1 0 2 0 1
I
200,000.
W . E. H u t t o n A C o . ■{ 100.000.
.103-01
f 20.000. .103-10
100,OOO..103-15 W i llia m E N i c h o l s ] 20,000. .1 0 3 0 5
100.000. .103-25 A C o ........................... j
20,000. .103 00
2 >,000 102 95
l 100.000. . 1( 8-50
100.000. .103-03
20,000. .102-50
100.000. .103-43 T e n n e y A M o r s e . . . | 30.000. .103-02
L o n g I s la n d T r . C o .
100.000 .103-83
10.000 102-66
10.000.
.103.60c . d e P . F ie ld , E x ' r . . 15.000. .U 3 (iO
20.000. .1U3-625
100. .103-00
H e n ry E. V an L o a n .
W m . H . G ood .
10,000 103-75 R . J . K im b a ll A C o . | 25.000. .102-76
10.000.
.1. 3-875
26.000. .103-11
10.000. .104.00
50.000 .102-42
JO.i 00. .103 75 W . J . H a y e s A S o n s
50.000. .102-52
H a llw e ll A H e n r y . . t
tO.'iOO, .102 62
8.000.
.10350
2.000.
.103.00
E . D . S h e p a r d A C o . . 25'),000 102-25
(
.103.37G le n s F a lls I n s . C o .
50.000 .102-83
G e o . C . W h i t e J r ........ 100.000.
20.000.
.103.42
10.000 ,.102-77
H a r r is . G a t e s A C o " ..
10.000. .1 0 2 0 0
G o ld m a n . S a c h s A C o . 250.001.. 1.3-29 Y o r k v i l l e B a n k ........
50.000. .103-25
15,000, . 102-00
C . H . D i c k e r m a n ........
The aggregate o f the am ount of bids presented is $30,185.200,
New B r ita in , Conn .— B o n d N e iv s .—W e are advised th a t
the date on w hich the $75,000 4% w ater bonds authorized at
the annual m eeting in A p r il w ill.b e sold has n o t yet been de­
term ined, a lthough i t w ill probably be some tim e in J u ly .
D enom ination, $1,000, Date, J u ly 1 , 1903. Interest, Feb. 1
and A ug. 1 in N ew B rita in . M a tu rity , J u ly 1, 1933
O c illu , Ga. — B o n d s V o t e d .—This c ity on M ay 0, by a vote of
113 fo r and none against, authorized the issuance of $15,000
6% 30 year school and e le ctric lig h t-p la n t bonds. These are
the firs t bonds, i t is stated, to be issued by the c ity .
O liu (Io w a ) In d e pe n de nt School D is tr ic t .— B o n d O ffer ­
i n g .— Proposals w ill be received n n til 6 P. M., May 20, b y D,
E. R um m el, Secretary, fo r $8,000 6 ^ 5 10 year (optional)
bonds. D enom ination, $1,000. Date, Jnne 1, 1903. Suc­
cessful bidder m ast fu rn is h blank bonds. Certified check fo r
5% o f bid, payable to W. H . C rain, D is tric t Treasurer, re­
quired.
Omaha, Neb.— B i d s .—F o llo w in g are the bids received M ay
7 by th is c ity fo r the $200,000 (tw o issues) of 4% refu nd ing
bonds described in Y . 76, p. 992 :
S p it z e r A C o ., T o l e d o ............$201,060 00 I S e a s o n g o o d
J .L .B a n d e r s A S o n s ,O m a h a . 201,010 00 I

A M ayer,

C in .. .$200,750 00

As stated l*tsc weeu, bonds were awarded to Spitzer & Co.
o f Toledo at 100*53.
P a rk e r, T u rn e r C ounty, S. D a k .— B o n d O ffe r in g .— P ro ­
posals w ill be received u n til 6 p. H , M ay 2 1 . by C. L . Jones,
C ity A u d ito r, fo r $10,000 5% 10-20-vear (optional) w a te r­
w orks bond. D enom ination, $500. Date, J u ly 1, 1903. I n ­
terest sem i-annually a t the office o f the C ity Treasurer.
P elham U n io n Free School D is tr ic t No. 1, W estchester
C ounty, N. Y . — B o n d S a le .— O n M ay 5 the $18,000 schoolhouse bonds described in V . 76, p. 988, were awarded to Ed­
m und Seymour & Co., New Y ork, at 101*27 fo r 4 per cents.
Pensacola, F la .— B o n d E le c t i o n .—A n election w ill be held
J u ly 2 to vote on the question of issuing public-im provem ent
bonds aggregating, i t is stated, $750,000.
P e rry , W yom ing C ounty, N. Y .— B o n d s V o t e d .—This v i l ­
lage on May 5 voted to issue $15,000 street-im provem ent
bonds. D etails of issue not determined.
P h ila d e lp h ia , Pa . — B o n d E le c t i o n P r o p o s e d .— A n o rd i­
nance has been introduced in the C ity Councils p ro vid in g fo r
the submission to a vote o f the people o f the question of is­
suing $5,000,000 bonds fo r the im provem ent and extension of
the filtra tio n system.
L o a n O r d in a n c e s ,—Ordinances were introduced in the C ity
Councils on May 14 p ro vid ing fo r a loan o f $1,000,000 fo r
schools, $ 1 , 000,000 fo r hospitals and $ 1 ,000,000 fo r sewers
and bridges.
P leasant R idge, O hio . — B o n d S a le .—On M ay 9 the $4,500
4 i 20 -year re fu n d in g street-im provem ent bonds were awarded

M at 16, 1903.]

THE

CHKONICLE

100 July 1, 1923; subject to call after July 1, 1913. Coupons
are receivable in payment of taxes. Thecountv has no bonded
debt at present. The assessed valuation is $7,350,000.
St. Cloud, Minn .— Bonds Voted .—This city on May 7 voted
to issue $ 10ll,0<0 4%$ bonds to purchase the water plant.
Details not yet determined.
Saline County, Kau. —B ond E lection .—An election will be
28, held in this county to vote on the question of issuing $50,000
4J^* 10-20 year (optional) bonds in aid of the Nebraska Kan­
sas & Gult Railway.
Sandusky Couuty, Ohio.— Bond O ffering.— Proposals will
be received until 12 m ., May 16, by the County Auditor, for
the following ditch bonds :

to the Atlas National Bank at 101'087, and the $1,500 5£ 20year sidewalk bonds were taken by the same institution at
For description of bonds see V. 76, p.
Plym outh, Mich.— Bids Rejected. — The bids received May 9
for the $12,500 4% 1-20-year (optional) electric-light bonds
were rejected.
V alley County, M ont.— Bond
O fferin g .— Proposals will be received nntil 6
m May
by H. C. W alker, Clerk School District, for $8,000 5-10-year
(optional) bonds. Denomination, $500. Interest must not
5%.
Bonds Voted. — This city has voted to issue
$120,000 viaduct bonds. Full description of these bonds has
not yet been determined.
— B ond E lection.— An election is proposed
to vote on the issuance of $50,000 bonds for the following
purposes : For park purposes, including a road to the top of
Rubidonx and improvements in Fairmount Park, $10,000;
fire department, $12,000, of which $3,000 is for a chem­
ical engine, $3,000 for hose and fire alarms, $1,500 for station
Arlington, $4,500 for central station on Eighth or Ninth
accommodate the town and East Side companies.
street improvements, $28,000, divided as follows : Cut­
ting down Cypress H ill, $4,500; W est Riverside Bridge,
crusher and roller, $8,000; crosswalks, $1,500; road
work and oiling, $11,000.

100'666.

881.

Poplar School D istrict No. 9,

1103

p. ..

exceed
Pueblo, Colo.—
Riverside, Cal.

for
at
streets to
For
$3,000;
Rochester, N. Y.—Bill

$6,000 6* Ohio Oil Co. Ditch No. 569. Maturity, ono bond for f 1,100 each bIx
months from Jan. 1, 1904, to July 1. 1906, inclusive.
1,200 6% J. F. liartuiao Ditch No. 547. Maturity, one bond 1200 each six
months from Jan. 1, 1904, to July 1, 1906, inclusive720 5% John Hass Ditch No 6*8. Maturity, oue bond $120 each six months
from Jau. 1, 10u4, to July 1. liiofi, inclusive.
1,800 ft* Chaw. Heseman Ditch No. £83. Maturity, one bond $900 Jan. 1,1904,
and one bond for *9o0 July 1, 1904.
000 6% Cbus. Schrader Ditch No. 674. Maturity, one bond for $125 each six
montbs from Jan. 1, 1901, to July 1, 1906, Inclusive.
200 6* Minnie Gschwind Ditch No. 578. Maturity, one $50 bond each six
months from Jan. i, 1904, to July 1, 1906, inclusive.
600 5* Fred Yeasting Ditch No. 579. Maturity, one $300 bond on Jan. 1,1904,
and also on July 1, 19u4,

Date of bonds, May 18, 1903. Interest, Jan. 1 and July 1.
San Saba County, Texas . —Bond Sale.—The .State Comp­
troller on April 28 registered an issue of $7,000 5-20-year
Signed A u th orizin g D isposal o f (optional) bridge bonds of this county. These bonds have been
sold to the State Board of Education at par. Denomination,
S tock.— Under Chapter 381, recently signed by ihe Governor,
$250.
this city is authorized to sell and dispose of the stock of the
Santa Barbara, Cal.— Bonds V oted .—This city on May 6
Rochester & Genesee Valley Railroad Company owned by it.
voted to issue $200,000 water, $50,000 boulevard, $20,000
Rockland, Me.— Bonds Authorized. — T h e issuance of $27,sewer and $14,000 bridge bonds.
600 3% bonds to take up a like amount of
per cents which
mature July 1, 1903, has been authorized. Denominations,
Saranac Lake (T illage), N. Y.— B ond O ffering,— Proposals
$100, $200 and $500. Date, July 1, 1903. Interest, semi-an­
will be received until 12 m ., June 1, by Seaver A. Miller,
nual. These bonds, we are advised, will not be offered for
Village
Clerk, for $45,000 water bonds, to carry interest at a
sale, as they will probably be taken by the holders of the old
rate not to exceed 4%, Authority, Chapter 414, Laws of 1897bonds who are all residents of the city or of the vicinity.
Rowan County (P. O. Salisbury), N. C.— Bvnd Offering. — Denomination, $1,800. Date, Aug. 1, 1903. Interest, semi*
Proposals will be received until 12 m ., June 1, by The Board
annually at the Adirondack National Bank of Saranac Lake.
of Commissioners— W . L. K luttz, Chairman— for $25,000 5<t
Maturity, $1,800 yearly on‘Aug.1 from 1908 to 1932, inclusive.
coupon funding bonds. Denomination, $500. Interest, Jan­
uary 1 aDd July 1. Maturity, $10,000 July 1, 1913. and $15,Bonds may be either registered or coupon as desired by pur*
N E W LO ANS._____
^ 8 1 5 ,0 0 0
C IT Y

OF

M IN N E A P O L IS

M U N IC IP A L

BONDS.

O ff ic e of C i t y Co m p t r o l l e r .

NEW

N E W LOANS.
# 2 5 , 0 0 0
V i l l a g e

o f

C o r i n t h ,

SEWER

LO AN S.

# 4 9 3 , 0 0 0
N . Y . ,

F

R

BONDS.

Minneapolis, Minn., April 28th, 1903.
Sealed proposals will be received at the office of
Sealed proposals and popular subscriptions will be
received by the Committee on Ways and Means of the Village Clerk of the Village of Corinth. Saratoga
the City Council of the City of Minneapolis, Minne­ County, New Y’ oik, until the 20TH DAY OF MAY,
sota, at the office of the Ctiy Comptroller of said 1903, AT ONE OT LOCK P. M., lor the purchase of
City, until 2 O’CLOCK P.M. ON SATURDAY, THE $25,000 Registered Sewer Bonds of said Village, of
23KI) DAY OF MAY, A. D. 1903, for the whole or denomination of $ 1 ,0 0 0 each. ODe of said Bonds
any part of the Eight Hundred and Fifteen Thou­
become due annually beginning June 1st,
sand Dollars ($815 000) of municipal bonds of said will
and continuing until all are paid. Interest payable
City of Minneapolis authorized to be issued by the semi
annually on December 1st and June 1st. Bonds
City Council ot said City by resolution passed April will bear
after June 1st, 1903, at a rate not
17th, 1903. and April 24th, 1903, and approved April exceedinginterest
nve per cent per annum, and will oe sold
25th, 1903, and April *7th, 190s, respectively, and to tne person who will take them at me lowest rate
said bonds will be sold at said time by said Commit­ or interest.
tee on Ways and Means to the highest responsible
and interest will be payable at the office
bidder or bidders therefor, and the actual residents ofPrincipal
the United States Mortgage & Trust Company,
of Minneapolis shall be preierred to all other per­ New
York City Bonds will be engraved under the
sons upon such sale.
or apd certified as to tnelr genuineness
Said bonds will be in denomination of $50, $100, supervision
by
the
United States Mortgage & Trust Company,
$500, and $1,000, and will be dated April 1st, 1903. and their
legality approved by J. H. Caldwell, Esq.,
payable April 1st. 1933. These bonds are Issued for of New York
Citv, whose opinion as to legality will
the following purposes and amounts:
be
furnished
to the purchaser. The bonds wili be
H For building, constructing, widening,
delivered
to
tbe purchaser on June 1st, 1903, at
enlarglng.extending and repairing bridges
l l o’clock A. M., at the office of the United Stares
within the corporate limits of said city.
& Trust Company, No. 66 Cedar Street,
“Bridge BoDds'’........................................... $215,000 0<- Mortgage
New York City.
For defraying the cost of making cer­
Each
proposal
must distinctly state the rate of
tain local Improvements in intersections
Interest, and must state the amount ot premium
of streets and in front of property ex­
offered, if any. Amount of bids must be stated in
empt by law from special assessments.
words and figures.
“ Permanent Improvement Bonds,"......... 160,000 00 both
Each proposal most be accompanied by a certified
For defraying the cost of making cer­
check
ou a National Bank lor $2,500, payable to
tain local Improvements inadvanceof the
Carl A. Diedrlch, Village Treasurer, to be returned
collection of toe special assessment levied
if bid be not accepted; otherwise to be retained
therefor, and to provide for ascertaining,
until the delivery ol the bonds and the payment
reporting and supplying any impairment
therefor.
or depletion of the fund into which the
Bidders must use the printed form of proposal
proceeds of said Bonds come. “Permanent
by the undersigned.
improvement Revolving Bonds” ............ 350,000 00 furnished
All proposals must be «ddre?ed to the undersigned
For the purpose of extending the water
and
be
endorsed
“ Proposal for Bonds.”
woras sysiem of said city. “ Waterworks
Bonds”............................................................... 100,00000 The right Is reserved to reject any or all bids.
Population, village enumeration in Jan. 1901.. .2,165
Total..................................................... $8l5.00w 00 Population now (estimated).......................... 2,500
and will bear interest at the rate of three and one- Assessed valuation of Real Estate................ $524,795
half (8^) per cent per annum, payable semi annually
(This does not include the capital stock, surplus
October 1st and April 1st of each year, principal and
undivided profits of the National Bank of the
interest payable at the fiscal agency ol the C*t.v of and
village
)
Minneapolis in the City of New York.
(Within
corporate limits of the village is
Each proposal or subscription must state tbetota 1 located thethe
Hudson River Mill of tne InternatioD«*il
amount of bonds bid for, the denominations thereof, Paper Company,
valued at upwards of two millions
and thetotal amount offered for the same.Including of dollars.)
the premium and accrued interest thereon, and each
proposal or subscription must be addressed to the Actual valuation (estimated)......................$3,300,000
*0208
Committee on Ways and Means, care of Joshua Tax rate. 19t2
*0208
Rogers. City Comptroller, Minneapolis, Minnesota, Tax rate, 1901..................................................
*01864
maned on envelope Proposal for*4 Bridge Bonds. ’ Tax rate, 1903..................................................
The village uas no bonded debt except for $44,000,
Proposal for •* Permanent Improvement Bonds,”
Proposal for “ Permanent Improvement Revolving being the amount of an issue to provide ror water
Bonds,” Proposal for “ Water Works Bonds,” and supply issued in i901.
each proposal or subscription must be accompanied
The’ Union School District, which includes all of
by a certified check on a national bank, payable to the Village and other territory, has no bonded debt
C. 8. Hulbert, City Treasurer, for a sum equal to two except for $4,0uo of an issue of $20,000, all of which
per centum of the par value of the bonds bid for a§ will be paid by I9c4.
a guaranty.
Dated, Corinth, N. Y., May 1st, 1903.
No proposal or subscription will be entertained
EDWARD ARGY. Village Clerk.
for a sum less than the par value of the bonds and
accrued interest to date of delivery of said bonds.
The right to reject any or all bids is hereby reserved.
IO W A A N D M IN N E S O T A
Bonds will be del vered to the purchasers thereof
at the office of the City Comptroller in Minneapolis,
Minnesota, on or before June 16th, 1903, or at the
5* M U N IC IP A L . B O N U S ,
office of the United States Mortgage & Trust Com­
C o r r e s p o n d e n c e in v ite d .
pany in New York City on June 29th, 1903, at the
option of the purchaser. By order of the Committee
H
A
R
R
Y B . P O W E L L A CO.
on Ways and Means of the City Council.
W o o d sto c k * V e rm o n t.
JOSHUA ROGERS, City Comptroller.

E

D

E

R

I

C

K

,

M

D

,

3 M i R e f u n d in g Bonds.
The Mayor and Aldermen of Frederick, Md., will
receive proposals until 12 M., JUNE 2D, 1903, for
Four Hundred and Ninety-three Thousand Dollars
($423,000) of
refunding bonds, to be dated July
1st, 19o3, and payable thirty years after date to
bearer, redeemable, however, at the pleasure of
said Mayor and Aldermen at any time after the
expiration of fifteen years from their date, the
interest payable semi-annually on the first day of
January and July in each year. These bonds are
authorized to be issued by chapter 15 of the Acts of
the General Assembly of Maryland, passed at the
Session of 1902, and by said Act are exempted from
all County and Municipal taxation.
Frederick City has a population of about 10,000.
Thetotal bonded debt of the City (less the sinking
fund), including this issue, is $618.600.
The city owns its own waterworks, which are con­
sidered worth $250,000 at a conservative estimate,
and receives au income from this source of about
$14/00 annually; a modern electric-light plant
valued at $40.000 and a City Hall building valued at
$5o.000.
The City has always met the interest on its bonded
debt promptly, and annually levies ten cents on
every hundred dollars worth of property assessed,
which is applied to the sinking fund ferthe payment
of its bonded debt.
All proposals must be addressed to Geo. Edw.
Smith, Mayor. Frederick, Md.. and accompanied by
a certified check for 6% of the gross amount bid.
No bid for less than par can be considered.
The bonds will be issued in denominations of
$l,00n, $ 6 0 0 and $ 1 0 0 to suit purchaser, and must be
paid for on July 1st. 1903. The right Is reserved to
reject anv and all bids.
THE MAYOR AND ALDERMEN
OF FREDERICK. MD.,
By Geo. Edward Smith, Mayor.
For any information concerning this bond issue
address the Mayor or Charles P. Levy, City Attorney

$50,000 FIRST MTG. b% GOLD BONDS
OF THE

Sterling (III.) Cas &
Electric Light Company.
Net earnings three times the interest charges.
Send for circular.

C H A S . S. K I D D E R & C O . ,
184

LA

SALLE

B io d g e t,

STREET,

M e r r itt

C H IC A G O .

&

C o .,

BAN K ER S

16 C ongress S tre e t, Boston.
3 6 N A S S A U S T R E E T , N E W Y O R K ..

STATE, CITY

&

RAILROAD BONDS.

THB CHRONICLE

1104

chaser. C ertified check on a national bank fo r 5g o f the
am ount of bid required.
T h e official n o t i c e o f th is b o n d o ffe r in g w ill be f o u n d a m o n g
th e a d v e r t i s e m e n t s e lse w h e r e i n t h is D e p a r t m e n t .

S eattle, W ash .— B o n d s N o t S o ld .—O nly one bid was sub­
m itte d on Mav 9 fo r the §590,000 4% general bonds described
in V . 76, p. 773. This bid was fo r par provided the interest
rate was increased to 4 % $ and was su bm itted by E. D. Shep­
ard & Co., New Y o rk C ity. A com m unication was also re ­
ceived fro m Seasongood & Mayer, C in cin n a ti, stating th a t
they w ould consider the purchase o f the bonds provided the
interest rate was increased.
B o n d s P r o p o s e d .—The P a rk Commissioners and the Com­
m ittee on Parks and Boulevards o f the C ity C ouncil have
voted to recommend the issuance of §500,000 4% park bonds.
S evier C onnty, T e n n .— D e s c r i p t io n o f B o n d s .—The §16,000
pike bonds w hich we stated last week had been sold to N.
W . H a rris & Co., Chicago, ca rry 4 % i interest, payable an­
n u a lly at N . W, H a rris & Co., Chicago. Denom ination,
§1,000. Date, May 1, 1903. M a tu rity , M ay 1, 1923.
Shadyside (O h io ) School D is tr ic t . — B o n d s V o t e d .—This
d is tric t on M ay 2 authorized the issuance o f $3,000 schoolhouse-addition bonds by a vote o f 24 to 11.
Shawnee (O k la .) School D is tr ic t . — B o n d O ffe r in g .— P ro ­
posals w ill be received u n til 3 P . M., June 1, fo r $50,000 5<t
b u ild in g bonds. D enom ination. $1,000. Date, J u ly 1, 1903.
In te re st semi-annually in N ew Y o rk C ity. M a tu rity , J u ly 1,
193J1. C ertified check fo r $2,000 on a n ational bank re­
quired.
Shiawassee C ounty (P . © /C o ru n n a ), M ic h .— B o n d O ff e r ­
i n g .— Proposals w ill be received u n til June 1 by A lb e rt H .
N o rth w a y , County Treasurer, fo r $75,000 4 i court-house
bonds, A u th o rity , election held A p r il 6, 1903. Denomina­
tio n , §1,000. Interest, sem i-annually.
M a tu rity , $15,000
three years fro m date o f issue and §15,000 each three years
thereafter. Bonds w ill be deliverea to the purchaser in lots
o f §15,000 fro m tim e to tim e as the Board o f Supervisors may
direct. C ertified check or bank d ra ft fo r $2,000, payable to
the C ounty Treasurer, required.
South Bend ( In d .) School D is tr ic t .— B o n d s t o be I s s u e d —
The Trustees o f th is d is tric t propose to issue §200,000 4% 1-10-

$ 4 5 ,0 0 0
L a k e

year (serial) bonds fo r the purpose of re fu n d in g certain debts
and fo r the com pletion of buildings now in process o f con­
structio n. Interest, sem i-annually in New Y o rk C ity.
S p o tts y lv a n ia C onnty, Ya . — B o n d L e g is la t i o n P r o p o s e d .—
The State Legislature w ill be asked to authorize th is county
to hold an election to vote on the question of issuing §100,000
road bonds.
S p rin g ©rove, H ouston County, M in n .— B o n d O f f e r i n g .—
Proposals w ill be received u n til 10 a . m ,, June 2, by F . E.
Joerg, V illag e Recorder, fo r §5,500 4% e le c tric -lig h t bonds.
Denominations, tw o fo r §1,000 each, one fo r §1.500 and one
fo r §2,000. Date, June 1, 1903. Interest, annual. M a tu rity ,
$1,000 J u ly 1, 1917; §1,000 J u ly 1, 1919; §1,500, J u ly 1, 1921,
and §2,000, J u ly 1, 1923. Accrued interest to be paid b y p u r­
chaser.
S tro ud sbu rg, Pa . — B o n d s V o t e d .—This borough has voted
to issue §29,000 4% sewer bonds. Date o f sale and other de­
ta ils not yet determined.
S u m m e rv ille , G » . — B o n d s V o t e d ,—This villa g e , on A p r il
30, voted to issue §25,000 w ater, street and sewer bonds.
S u n flo w e r C ounty (P . O. In d ia n o la ), M iss .— B o n d O ffer­
i n g .—W e are advised by W . P. Gresham, C lerk of the Chan­
cery C ourt, th a t the Board of Supervisors w ill on June 1
receive bids fo r §20,000 re fu nd ing bonds. Date, J u ly 1,
1903. M a tu rity , J u iy 1, 1923. In te re st rate to be named in
bids.
Swam pscott, Mass .— B o n d Sale.—On M ay 9 the §80,000 Z%%
1-40-year (serial) sewer bonds dated Sept. 1, 1902, described
in V . 76. p. 1050, were awarded to Estabrook & Co., Boston,
at 101*037 and in te re st—a basis o f about 3'4282. F o llo w in g
are the b id s :
E s t a b r o o k & C o ., B o s t o n ............ 101-037 I G e o . A . F e r n a ld & C o . . B o s t o n . . 100-21
B lo o g e t , M e r r i t t & C o ., B o s t o n . . 101*31 |

Syracuse, N. Y . — R e s u lt o f B o n d O ffer in g — O nly one b id ,
th a t of 100*083, was received M ay 5 fo r the $14 000
1-20vear (serial) bridge bonds. No bids were subm itted fo r the
§171,000
1-9 year (serial) local-im provem ent bonds also
offered on the same dav. F or description o f bonds see V . 76,
p. 994,
T a re n tu m , Pa . — B o n d s N o t S o l d .—A ll bids received May 9
fo r §7,000 4% cu rb in g and paving bonds were rejected. Bonds
w ill be re-advertised.

N E W L O A N S . ........

N E W LOANS.

S a ra n a c

$ 1 0 1 ,8 0 0
V illa g e

WATER BONDS.

S e a le d p r o p o s a ls w ill b e r e c e i v e d a t t h e o ffic e o f
t h e C le r k o f S a r a n a c L a k e V illa g e u n t il 12 o ’c l o c k
M ., J U N E 1 S T , 1903. f o r t h e p u r c h a s e o f $45,000
W a te r B on ds.
N o b id s w ill b e r e c e iv e d a t le s s
t h a n p a r v a l u e w it h a c c r u e d i n t e r e s t . S a id b o n d s t o
b e d a t e d A u g u s t 1st, 1903, a n d t o b e a r i n t e r e s t a t a
r a t e n o t t o e x c e e d f o u r (4) p e r c e n t , p a y a b le s e m i ­
a n n u a lly o n t h e firs t d a y o f F e b r u a r y a n d A u g u s t .
S aid b o n d s w ill b e t w e n t y - f i v e (g o ) in n u m b e r , o f t h e
d e n o m i n a t i o n o f $1,800 e a c h , a n d p a y a b le a s f o l l o w s :
N f . 1, fiv e y e a r s f r o m d a t e ; N o 2, s ix y e a r s f r o m
d a t e ; N o . 3, s e v e n y e a r s f r o m d a t e , a n d s o o n , o n e
fa lllD g d u e e a c h y e a r t h e r e a f t e r u n t il a ll o f s a id
b o n d s a r e p a id .
I n t e r e s t a n d p r in c ip a l p a y a b le a t t h e A d ir o n d a c k
N a t io n a l B a n k o f S a r a n a c L a k e , N . V ., in N e w Y o r k
E xch an ge.
T h e s e b o n d s w ill b e is s u e d p u r s u a n t t o C h a p te r
414 o f t h e la w s o f it-9 ;.
B o n d s m a y b e re g is te r e d o r c o u p o n as p u rc h a se r
m a y p r e fe r .
E a c h b id m u s t b e a c c o m p a n ie d b y a c e r t ifie d
c h e c k d r a w n o n a N a t io n a l B a n k f o r fiv e p e r c e n t
o f t h e a m o u n t o f t h e b id . s a m e t o b e f o r i e l t e d i f
b i d d e r f a il s t o c o m p l e t e p a y m e n t f o r b o n d s b y A u g ­
u s t 1 ,1 9 0 3 .
T h e b o a rd o f tr u s te e s re s e rv e s t h e r ig h t t o r e je c t
a D y a n d a ll b id s .
F o r f u r t h e r p a r t ic u la r s a d d r e s s S e a v e r A . M ille r ,
V i l l a g e < le r k , S a r a n a c L a k e , N . Y.
B y o rd e r o f th e B o a r d o f T ru ste e s o f Saran ac
L a k e V il l a g e .
A L F R E D L . D O N A L D S O N , P r e s id e n t .
S E A V E R A . M I L L E R , V illa g e C le r k .
D a t e d , S a r a n a c L a k e , r». Y ., M a y 12, i w j 3.

J.

4%

S O N S ,

BOSTON.
Chicago.

San Francisco.

T. B. POTTER,

Rudolph Kleybolte & Co.,
I

W A88A C

S T .. N E W

Y O R K

C IT Y

INVESTMENT BONDS.

C H IC A G O ,
L IS T

ON

-

B O N D S ,
S tre et,
IL L S .

AM D

CO R PO R A TIO N

SEND FOR LIST.
B O N D S .

CLEVELAND.

BOSTON.

B O N D S .
In d ia n a Bonds and L o c a l S to c k s
a S p ecia lty.

FARS0N LEACH & 00.

171

La Salle Street, Chicago.
4

S ta te

C H IC A G O .

NEW

Y O R K .

BOSTON.

P H IL A D E L P H IA .

F. R. FULTON & CO.,
M

u n i c i p a l

B

o n d s

,

171 LA SALLE STREET,
C H IC A G O .

SECURE BANK VAULTS.

A P P L IC A T IO N .

MacDonald, McCoy k Co.,
MUm e t PAL

D E N I S O N , P R I O R & CO.

H IG H -G R A D E

Public Securities,

Public Service Corporation
BONDS.
D enver.

C O .,

&

MUNICIPAL,
CORPORATION,
RAILWAY

AND

Savings Banks,
Trust Companies,
MUNICIPAL and
Trust Funds,
CORPORATION
Individuals
172 W a s h in g to n

W I L D

BANKERS,

M U N IC IP A L

&

F.

I n d ia n a p o lis , I n d .

GEN. R E F U N D IN G BONDS.

S e a le d p r o p o s a ls w ill b e r e c e iv e d b y t h e u n d e r ­
s ig n e d , T r e a s u r e r o f t h e T e r r it o r y o f N e w M e x i c o
a t S a n ta F e . N e w M e x i c o , u n til M A Y 3 0 T H , 1903, A T
10 O ’ C L O C K A . M .. f o r t h e e n t i r e is s n e o f t h e a b o v e
d e s c r ib e d b o n d s , d e l iv e r y t o b e m a d e a t N e w Y o r k ,
C h ic a g o , S t. L o u i s o r D e n v e r .
N o b id s f o r le s s th a n
p a r w ill b e e n t e r t a in e d ; t h e r i g h t b e i n g r e s e r v e d t o
r e j e c t a n y o r a ll b id s .
I s s u e is m a d e u n d e r C o u n c il B ill 23 o f t h e 35th
L e g i s l a t i v e A s s e m b l y o f t h e T e r r it o r y o f N e w M e x ­
i c o in t h e m a n n e r p r e s c r ib e d b y C h a p t e r 58, S e c t io n s
1 t o 12, L a w s o f 1899. f o r p u r p o s e o f r e t i r i n g o n e
h u n d r e d a n d o n e t h o u s a n d , e i g h t h u n d r e d ($101,800)
d o lla r s o f C a s u a l D e fic it b o n d s .
B o n d s t o b e d a t e d J u n e 1 st. 1903, a n d b e c o m in g
a b s o lu t e ly d u e a n d p a y a b le t h i r t y y e a r s a f t e r d a te
a n d o p t io n a l in t w e n t y y e a r s a f t e r d a t e o f is s u e ;
p a y a b le in N e w Y o r k , b e a r in g in t e r e s t a t t h e r a t e o f
f o u r p e r c e n t p e r a n n u m , i n t e r e s t p a y a b le s e m i­
a n n u a lly in N e w Y 'o r k .
J. H . V A U G H N ,
T re a s u re r o f N ew M e x ic o .

E. H. R O L L IN S

FOR

IN V E S T M E N T S .

Territory of New Mexico,

B O N D S

SUI TABLE

[VOL. L X X V I.

S tre e t,

B O ST O N .

GENUINE
W E L D E D C H R O M E S T E E L A N D IR O N
R o u n d a n d F la t tsars a n d 5 - P l y P la t e s a n d A n g l e
F O R 8 A F E S , V A U L T S , &C.
C a n n o t b e S a w e d , C u t o r D r ille d , a n d p o s i t i v e l y
B u r g la r P r o o f .
C H RO M E STEE L W O R K S .
K e n t A v e „ K e a p a n d H o o p e r S ts .,
B ale M a n T e r s In t h e U .S .
B R O O K L Y N , N. V .

M ay 10, 1903.]

THE

CHRONICLE

Tecumseh (N eb.) School D istrict.—Bond E l e c t i o n P r o ­
question of holding an election to vote on the
lssnanoe of sobool-bnilcling bonds is being considered.
T o le d o , O h i o . —Bonus A u th orized .—T h e Common Conncil
has authorized the issuance of $9,600 4% main sewer district
No. 36 bonds. Authority, Sections 2880, 2704 and 2705, He
vised Statutes of Ohio. Date, Fnb. 1, 1903. Interest semi­
annually at the City Treasurer’s office. Bonds are payable,
in amount not exceeding $2,000 iu any one year, between
and including the years 1903 and 1908.
B i d s R e j e c t e d . —The Committee on Ways and Means has
rejected all bids received May 11 for th e$497,000 8
10-year
refunding water bonds described iu V. 76, p. 882. The bids
were as follow s:

Y lh o r g In d e p e n d e n t S c h o o l D is tr ic t N o . 4 , T u r n e r
C o u n t y , S . I ) u k .— Bond Sale. — T h is d is tr ic t h a s so ld an issu e
o f $2 ,5 0 0 5£ 15-y ea r b o n d s to th e S ta te P e r m a n e n t S c h o o l F u n d .
A bid o f p a r, less $25 fo r a tt o r n e y ’s fe ta , w a s a leo re ce iv e d
fo r th e b o n d s fr o m a firm in M in n e a p o lis .
W a s h i n g t o n .—Bond Sale Postponed. — T h e sa le o f th e $ 7 6 ,500 4t, C a p ito l B u ild in g fu n d w a r r a n ts a d v e r tis e d to ta k e
p la c e M a y 5 w a s p o stp o n ed u n til M a y 12.
F o r d e s c rip tio n o f
se c u r itie s see V . 7 6 , p , 940.
W a s h i n g t o n C o u n t y , M e .—Proposition to Sell Stock De­
feated. — T h is c o u n ty on M a y 11 v o te d a g a in s t s e llin g its
h o ld in g s in th e p re fe rre d s to c k o f th e W a s h i n g t o n C o u n ty
R a ilr o a d (th e p ar v a lu e o f w h ic h is $ 500 ,000 ) to th e P r e s id e n t
o f th e ro a d , M r . F . W . W h i t r i d g e .
W a t e r l o o , I o w a .—Bond Sale.— O n M a y 7 $5 0 ,0 0 0 5<f S e w e r
D is tr ic t N o . 2 b o n d s w e re a w a rd e d to th e W a t e r lo o S a v in g s
B a n k a t 10 0 ,504.
D e n o m in a tio n , $500 .
D a te , N o v . 1, 1902.
I n te r e s t s e m i-a n n u a lly a t th e N a tio n a l P a r k B a n k , N e w
Y o r k C it y .
M a t u r it y , $ 7 ,0 0 0 in 18 m o n t h s , $ 8 ,0 0 0 in 80
m o n t h s , $ 8 ,0 0 0 in 42 m o n th s , $ 9 ,0 0 0 in 54 m o n t h s , $ 9 ,0 0 0 in
66 m o n th s an d $ 9 ,0 0 0 in 78 m o n t h s fr o m d a te o f b on d s.
W a t o n g a , O k l a .— Bonds Defeated. — T h e p r o p o sitio n to iBsne
$1 6 ,0 0 0 30 y e a r w a te r b o n d s fa ile d to c a r r y a t th e e le c tio n
h e ld A p r il 15.
W a x a h a c h i e , T e x a s .—Bonds Defeated. — T h is c it y on M a y
5, b y a v o te o f 85 fo r to 151 a g a in s t, d e fe a te d a p ro p o sitio n to
issu e $ 8 ,0 0 0 e le c t r ic -lig h t -p la n t b o n d s.
W h a r t o n ( N . J . ) S c h o o l D i s t r i c t .— Bids Rejected. — A l l
b id s re ce iv e d M a y 12 fo r th e $ 6 ,0 0 0 4%% s c h o o l b o n d s d e ­
sc r ib e d in V . 7 6 , p 9 9 5 , w e re r e je c te d .
T h e d is tr ic t w i ll n o w
e n d e a v o r to d isp ose o f th e s e b o n d s a t p r iv a t e sa le .
W h i t e P l a i n s ( T o w n ) , W e s t c h e s t e r C o u n t y , N . Y —Bond
Offering. — P r o p o sa ls w i ll be r e c e iv e d u n til 7 p . m ., M a y 25,
b y F a r r in g to n M . T h o m p s o n , T o w n S u p e r v is o r , a t th e E a s t ­
ern S ta te J o u r n a l B u ild in g in W h i t e P la in s , fo r $ 5 ,0 0 0 3 ^ g
r o a d -im p r o v e m e n t b o n d s.
D e n o m in a t io n , $ 1 ,0 0 0 .
I n te r e s t,
s e m i-a n n u a l.
M a t u r i t y , J a n . 1. 1930.
C e r tifie d c h e c k on a
S ta te o r n a tio n a l b a n k fo r 10# o f th e p a r v a lu e o f b o n d s r e ­
q u ir e d .
Y o n k e r s , N . Y .—Bond Bill Signed.—T h e G o v e r n o r o n M a y
13 sig n e d a b ill a u th o r iz in g th is c i t y to issu e $ 2 5 0 ,0 0 0 c i t y h a ll b on d s.

p o s e d . —The

S p l t z e r A C o .. T o l e d o , p a r le s s $ 1 8 ,0 0 0 c o m m i s s i o n
.S la te S a v i n g s B a n k , T o l e d o , p a r le s s t k 1.000 c o m m i s s i o n .
C i n c i n n a t i T r u s t C o ., C i n c i n n a t i , p a r le s s $ 2 5 ,0 0 0 c o m m i s s i o n .
W e l l , R o t h A C o .. C i n c i n n a t i , p a r l e s s $ 3 1 ,5 0 0 c o m m i s s i o n .
S e n s o n g o o d A M a y e r , C i n c i n n a t i , p a r f o r 4% 3 0 - y e a r b o n d s .
L a m p r e c h t B r o s . C o ., C l e v e ., p a r l e s s $ 1,0 50 c o m m i s s i o n l o r 4 * 3 0 - y e a r b o n d s .

The Auditor was authorized to re-advertise the bonds as 4
per cents.
T o p e k a , K a n .—B o n d s A u t h o r i z e d . —The City Council has
authorized the $850,000 4% water bonds voted at the election
held April 7, 1908. These bonds are to be issued to purchase
the existing water plant, subject to a mortgage of $270,000,
due July 1, 1926, carrying 5% interest, payable semi-annually.
The city bonds are to be in denomination of $1,000. Interest,
semi-annual. Maturity, 20 years.
T y r r e l l County ( P . O . C o ln n ib i a ) , N . C.— B o n d O f f e r i n g .—
Proposals will be received until June 1 by the County Com ­
missioners for not less than $2,000 nor more than $15,000
court-house bonds, carrying interest at a rate not exceeding
64. Denomination, $1,000. Interest annually in Norfolk.
Maturity, $1,000 yearly, beginning tw o years afterdate. This
county, it is stated, has no indebtedness at present.
U n io n T o w n s h i p S c h o o l D i s t r i c t , U n i o n County, Ohio.—
B o n d O f f e r i n g .— Proposals will be received until 2 p. m . to­
day (May 16) by John A. Kennington, Clerk (P. O. Mi >ford
Center), for $9,000 6£ bonds. Denomination, $4,500. Date,
May 16, 1903. Maturity, $4,500 May 16, 1904, and $4,500
Nov. 16, 1904. Bidders must satisfy themselves as to the
legality of the bonds before bidding. Certified check for 5%
of the par value of the bonds required.

T R U S T

IN V E S T M E N T S .
E v a n s v i l l e G a n A: E l e c t r i c L i g h t C o . on.
E v a n s v ille , I n d ia n a .
S p r in g fie ld

G an A E le c tr ic
S p r in g fie ld , M o .

C o. 5 s.

N i a g a r a L i g h t , H e a t 6c P o w e r C o .
T o n a w a n d a a n d N o r t h T o n a w a n d a , N . V.
C it iz e n s ’
B u r lin g to n

H e a t A L ig h t
E lw o o d , I n d ia n a .

C o.

H a llw a y A L ig h t
B u r lin g to n , I o w a .

os.

5s.
C o.

L E W IS

5s.

C O .,

BAN K ERS.
B o s t o n , 60 D e v o n s h i r e S t r e e t .
P h i l a d e l p h i a . 5 05 C h e s t n u t S t r e e t .
C h ic a g o , M o n a d n o c k B u ild in g .

VICKERS & PHELPS,
29 Wall Street

New York.

IN V E S T M E N T

H IG H E S T

B R O K E R S ,

GRADE

R A IL R O A D

B O N D S .

Kansas Municipal Bonds
B o u g h t a n d H o ld .

D. H . M A R T IN , Topeka, K an .

T H E

G R A N D

The Merchants’
Loan & Trust Company,
Chicago.
C A P IT A L

AND

SU R PLU S,

GENERAL

&

C O M P A N IE S .

P R I X

8 4 ,0 0 0 ,0 0 0

B A N K IN G .

Accounts Solicited.
Trust Department,
H igh Grade Bonds,
Foreign Department,
Savings Department,
Safe Deposit Vaults,
D IR E C T O R S :
M a r s h a ll F ie ld ,
A lb e r t K e e p ,
A . H . B u r le y .
E li a s T . W a t k i n s ,
E u o s M . B a rto n ,
E . D . H u lb e r t,

C y ru s H . M c C o r m ic k ,
L a m b e rt T ree,
E r s k in e M . P h e lp s ,
M oses J. W en tw orth ,
E . H . G a ry,
O r s o n S m ith .

CONTINENTAL
BANK & TRUST CO.,
FORT W ORTH, TEXAS.
Ch

ar tere d

,J

u ly

2 6 ,1 8 7 0 .

T r a n s a c t s a g e n e r a l b a n k i n g b u s in e s s , a c c e p t s a n d
p a y s I n t e r e s t o n s a v in g s d e p o s it s , a c t s a s a g e n t f o r
a n y a p p r o v e d f i n a n c i a l b u s i n e s s , m a n a g e s a n d s e ll s
r e a l e s ta te , lo o k s a ft e r e s ta t e s , m a k e s rea l e s ta t e a n d
o t h e r lo a n s a n d I n v e s t m e n t s f o r c lie n t s , c o n d u c t s
m o r tg a g e fo r e c lo s u r e s , ta k e s c h a r g e o f litig a tio n
a n d a o e s a g e n e r a l f i d u c i a r y a n d t r u s t b u s in e s s .

O F F IC E R S A N D D IR E C T O R S :
J . G . W I L K I N S O N , P r e s id e n t.
D . T . B O M A R , 1st V ic e -P r e s id e n t.
D . B . K E E L E R , 2d V ic e -P r e s id e n t .
A . M . Y O U N G , C a s h ie r .
K . H . C a r te r .
M organ Jon es,

G eo. T h om p son , J. V . G ood e,
E . P . B ora u r,
R . W . F lo u r n o y ,
W . C . S t r ip l i n g .

“ The Oldest Trust Company in Oregon."
W A S A W A R D E D A T TIIE P A R I S E X P O S IT IO N TO

W H IT IN G ’S

STANDARD

PAPERS.

T h e y a re t h e o n ly A m e r ic a n p a p e r s w h ic h h a v e
e v e r r e c e iv e d t h is —t h e h ig h e s t h o n o r t h a t ca n b e
c o n fe r ie d .
It m ea n s th ey a re th e m o st p e r fe c t
m a d e . I n s i s t o n h a v i n g t h e m f o r y o u r t in e c o r r e s ­
p o n d e n c e a n d v o u r o ffic e s t a t io n e r y . A r e y o u u s in g
W h i t in g ’ s L e d g e r P a p e r s in y o u r B la n k -B o o k s .
S a m p le s a n d b o o k l e t f r e e .

WHITING PAPER COMPANY,
H O LYO K E,

M A S S ..

And 150 Duane Street, -

BEAUMONT
TRUST CO.,
BEAUM ONT,

TEXAS.

E S T A B L I S H E D 1657.

W rite fo r Special Circular.

M A S O N

1105

New Y ork.

PORTLAND
TRUST COMPANY
I n c o r p o r a t e d A p r i l 2 2 ,1 8 8 7 .

OF OREGON.

T ra n sa cts a g e n e ra l T ru st, A g e n o y a n d B a n k
ln g b u s in e s s ; m a k e s c o lle c t io n s , a n d Issu es
I n t e r e s t -b e a r in g C e r t ific a t e s o f D e p o s it , a t r a t e s
f i x e d b y the t e r m s o f t h e C e r t i f i c a t e .
B E N J . I . C O H E N , P r e s id e n t.
B . LE E

P A G E T , S ecreta ry .

N ew Y o r k C ity,
Z'Z Pine S tr e e t.

Loudon, England,
1 5 9 Cannon S t.

Chicago,

159 La Salle Street.
S. W . T H O M P S O N , P r e s i d e n t .
J . H . B A I L E Y . V ic e -P r e s id e n t.
I. D . B A R T O N . V ic e P r e s id e n t .
H o x . R . C. D U F F , V ic e -P r e s id e n t .
JA S O N C. M O O H E , T reasu rer.
H O R A C E H . L A N E Y , S ecreta ry,
A L F R E D H . E V A N S , A sst. S ec.

Does a General Trust Company, Fiduci­
ary and Banking Business, and has speoial
facilities, both here and abroad, for handling
Railroad and all other Good Securities.
Executes trusts of every description, and acts
as fiscal agents and registrars for approved
companies.

Oregon & Philadelphia
Securities Co.
McKAY BLDG., PORTLAND, ORE.

Capital, -

$100,000.

“ B A N K E R S AND

B R O K E R S .”

L o a n s o n a p p r o v e d s e c u r ity . B o n d s b o u g h t a n d
s o l d . I n t e r e s t p a id o n t i m e d e p o s i t s . A c t s a s a d ­
m i n i s t r a t o r . e x e c u t o r , g u a r d ia n , a s s i g n e e , r e c e i v e r ,
t r a n s fe r a g e n t a n d r e g is tr a r . T r u s t fu n d s a n d tr u s t
in v e s tm e n ts a re k e p t s e p a r a te fr o m th e a sse ts o f
t te bank
L o a n s m a d e f o r ca p ita lis ts o n c it y re a l
e s ta t e o r fa r m s g u a r a n t e e d . L a r g e t r a c t s o f t im b e r
a n d a g r ic u ltu r a l la n d s f o r s a le .
C o r r e s p o n d e n c e s o lic it e d .
M a r i o n A . B u t le r . A t t o r n e y f o r C o m p a n y .
R e fe r e n c e s : P o rtla n d T r u s t C o m p a n y o f O r e g o n ,
P o r t l a n d ; M e r c h a n t s ’ N a t i o n a l B a n k , P o r t l a n d . U r e .;
F ir s t N a tio n a l R a n k o f P e n d le t o n , O r e
F ir s t N a ­
t i o n a l B a n k , B a k e r C it y , O r e . T h e B r a d s t r e e t C o .

MUNICIPAL BONDS.
E. C. ST ANWOOD & C o . ,
BAN KERS,

121 Devonshire Street,
BOSTON.

TUB CHRONICLE

1106

Q v u s t

C E N T R A L
T R U S T
O F

C O M

P A N Y

I L L I N O I S ,

[Vol. LXXVI,

(C o m p a n ie s .

N orth A m m rati © rust (Eompaug
13 5

B R O A D W A V

C a p i t a l a n d S u r p l u s , $ 5 , 0 0 0 , 000.00

CHICAGO.
Capital,
Surplus,

-

.

.

.

84,000,00*
1,000,00?

C H AR LES G. DAW ES, Pregident.
W. IR V IN G OSBORNE, Vice-Preaident.
A . U H R L A U B , Vice-President,
LA W R E N C E O. M U R R A Y , Bec’y A T ru st Offloer
W IL L IA M R. DAW ES, Cashier.
CHARLES T. W EGNER, Asst. Cashier
M ALCO LM M cD O W E LL, Asst, Secretary.
M A X PAM . General Counsel.
D IR E C T O R S :
A . J. B A R LIN G ,
F R A N K O. LO W D KK
H A R R Y RUBENS,
M A X PAM,
G R AE M E STEW AR T
C H A8. T. BOYNTON,
THOM AS R. LYON,
C H AR LES D EERING ,
A L E X . H . R E V E LL.
P. A. V A L E N T IN E ,
C H AR LES G. DAW ES.

BANKING, SAVINGS AND TRUST
__________ DEPARTMENTS.__________
F I D E L I T Y

T R U S T

TRUSTEES.
HORACE E. ANDREWS
JOHN M. MACK
Pres. Cleveland Electric Railway Co., Cleveland.
Philadelphia.
C. T. BARNEY
JOY MORTON
Pres. Knickerbocker Trust Co., N. Y.
Jov Morton & Co., Chicago.
AUGUST BELMONT
WILLIAM
R. NICHOLSON
Banker, New lork.
Pres. Land Title and Trust Co., Philadelphia.
H. S. BLACK
JOSEPH J. O’ DONOHUE, J r .
Chairman Board of DirectorsU.S.Realty&Con.Co.
Pres. Brooklyn Ferry Co., New York.
WILLIAM H. CHESEBROUGH
E. C. POTTER
Pres. Century Realty Co., New York.
Real Estate, New York.
HEMAN DOWD
WILLIAM A. READ
Aice-Pres. North American Trust Co., New York.
Yermilye & Co., New York.
CLEMENT A. GRISCOM
JOHN J. RIKER
Pres. International Mercantile Marine Co., N. Y
Merchant, New YToik.
H. B. HOLLINS
HENRY F. SHOEMAKER
H. B. Hollins & Co., New York.
Chairman of Ex. Com.. C. H. <£D. Ry. Co., N. Y.
JOHN HONE
SAMUEL SPENCER
John Hone & Co., New York.
President Southern Railway Co.
JAMES JOURDAN
SAMUEL THORNE
Pres. Brooklyn Union Gas Co., Brooklyn.
New York.
DAVID H. KING, J r.
EDWIN THORNE
Pres. New York Dock Co.
New York.
JAMES S. KUHN
OAKLEIGH THORNE
Pres. Pittsburgh Bank, for Savings, Pittsburgh.
Pres. North American Trust Co., New York,
CHARLTON T. LEWIS
JOHN C. TOMLINSON
Director International Bell Telephone Co., N. Y.
Director New Amsterdam Gas Co., New York.
WM. LOGAN
ROBERT B. VAN CORTLANDT
Cashier Hanover National Bank, NewY’ork.
Kean, Van Cortlandt &Co., New York.
ALLAN McCULLOH
WARNER VAN NORDEN
Counsellor at Law, New York.
Director Home Insurance Co., New Y'ork.
P. A. B. WIDENER, Philadelphia.
OAKLEIGH THORNE,

C O M P A N Y ,

NEWARK,
C a p ita l, S u r p lu s

&

N. J.

U n d iv id e d

P r o fits

o v e r

8 9 ,0 0 0 ,0 0 0 0 0 .

P r e s id e n t

HEMAN DOWD,
Y
S. D. SCUDDER,Treasurer F. L. HILTON, Secretary
W. H. CHESEBROUGH, j* Vice-P res. f *w * BLACK, Auditor
F. C. PREST, Ass*t Secretary
G. M. WYNKOOP,
I
J. R. BURNET, Attorney
CARLETON BUNCE. Ass’ t Sec' y
and T rust Officer

Exrnttrs (trusts uf tairrg Drsrriptimi
RECEIVES DEPOSITS SUBJECT TO CHECK. PAYS INTEREST CN DAILY BALANCES

O F F IC E R S :
C Z A L e . M c C A R T E R ............ ....... P r e s id e n t
J O H N F . D R Y D K N , ............. V ic e - P r e s id e n t
T H O U IA S N . M c C A R T E R ,
kJ d V lc e -P re s . A G e n . C o u n s e l*
J E R O M E T A Y L O K ....................T r u s t O ffic e r
F R E D E R I C K W . E G N E R , Sec* a n d T r e a s .
JA M E S H . S H A C K LE TO N ,
A sac* Secc A A s s t * T re a s *
D IR E C T O R S :
J o h n F * D ry d e n *
F o r r e s t F. D ryden,
J a g . \ V . A le x a n d e r * H e n r y S* R e d m o n d ,
Jam es H * H yde,
C h a r le s A . F e lc k ,
L e s lie D * W a r d ,
B e rn a rd S tra u s s ,
J o h n C* E is e le *
T h o s . N , M c C a r te r .
E dgar B . W a rd .
Ho M c I n t y r e .
W i l l i a m S c h e e re r,
A n t h o n y R* K u s e r ,
S c h u y le r B . J a c k s o n H e n r y R . W ln t h r o p ,
M a r k T . Cox,
C z a l H . M c C a r te r ,
J e r o m e T a y lo r .
H e n r y 31. D o re m u s ,
W m . N. C oler J r .
Otto H * K a h n ,
W i l l i a m H * S ta a k e , J a c o b E . W a r d ,
R o b e r t H 3 Ic C a r te r .

M a r y la n d

T r u st

C o .,

N* W . C o r n e r C a l v e r t a n d G e rm a n S tre e t* .
i
B A L T IM O R E ,

CAPITAL, - - $ 2 ,1 2 5 ,0 0 0 .
-! $ 2 ,4 3 7 ,5 0 0 .

SURPLUS,A Legal Depository for Court and Trust Fuads.

SAFE DEPOSIT BOXES FOR RENT.
Acts as Financial A gent fo r States, Cities, Townt
Railroads and other Corporations. Transacts a gen
eral tru s t business. Lends money on approves
security. Allow s Interest on special deposits. Acts
as Trustee under Mortgages, Assignments and Deeds
o f Trust, as Agent fo r the Transfer or Registration
of Stocks and Bonds, and fo r the payment o f oouponi
Interest and dividends.
J. W ILL C O X BROWN, President.
H E N R Y J. BOW DOIN, 1st Vice-President,
LLO Y D L. JACKSON, 2d Vice-President.
J. BE R N A R D SCOTT, Secy. A Treas.
C AR R O LL V A N NESS, Asst. Seoy.A Treat.
Wm. A . Marburg,
H . J. Bowdoin,
Leopold 8trouse,
H enry W alters,
W. B. Brooks Jr.,
L o y d L . Jackson,
H . A. Parr,
Clayton C. H all,
u

n

J.W illco x Brown,
B. N. Baker,
Fred'k W . wood,
Andrew D.Jones,
Joshua Levering,
James Bond,
G. A. von Lingen,

J. A . Tompkins.
S. Mandelbaum.
John Pleasants.
J. L Blackwell.
Geo. C. Jenkins.
John 8. Wilson
J. S. Lemmon.
L F. Loree.

and
s t o c k
D U IN U o
C E R T IF IC A T E S
F in e s t E n g r a v e d W o r k .
Also cheaper—but not cheap-looking—partly lith o graped and p artly type-printed, finished in a
few days. Send fo r samples.
A L B E R T K. K I I S G & C O .,
Engravers and Lithographers,
(TelephoneConnection.) 1 0 5 W i l l i a m S t . , N . Y*
d

r w

D IR E C 1 0R 8 :

q

fkmstrar

(UnmatVr (Company.
E X E C U T I V E O F F IC E ,

32 L IB E R T Y S TR E E T, N E W YO R K .

A c ts as Re gis te re d

A g e n t for Co rp oratio ns in
and N e w Y o rk

New

Jersev

AN D

As T ran s fe r A g e n t and R e gis trar for Corporations of all States.
N E W JE R S E Y O FFIC E, l o E X C H A N G E PLACE, JER SEY C ITY .
D IR EC TO R S.
C. C. C U Y L E R , Cuyler, Morgan & Company.
O S C A R L . G U B E L M A N , Treasurer Commercial T ru s t Company o f New Jersey.
J O H N W . H A K D E N B K k G H , President Commercial T ru s t Company o f New Jersey.
R O B E R T S. R O S S , Vice-President Commercial T ru st Company o f New Jersey.
W I L L I A 31 C. S H E R W O O D , Vice President o f the Company.
E D 3 IU N D W . W A K E L E E , Treasurer o f the Company.
G E O R G E W . Y O U N G , President U nited States Mortgage & T ru st Company,
J A M E S C. Y O U N G , President National Realty Company.

C O L OSt.N I A L T R U S T C O M P A N Y ,
Capital, Surplus and Undivided Profits, $2,300,000.
P a u l B u ild in g , 2 2 2 B r o a d w a y , Y e w Y o r k .

Transacts a General Trust and B anking Business.
A llow s Interest on Daily Balances.
O FFIC E R S :
JOHN E. BORNE, President.
A R P A D S. GROSSMANN, Treasure
K1CHARD D E L A F IE L D ,
Vice-President^
EDM UND L. JLDSON, Secretary.
CORD M EYER ,
P H IL IP S. BABCOCK, T ru s t Officer.
JAM ES W . T A P P IN .
TRUSTEES:
L . C. D e s s a r ,
C o r d M e y e r,
H e n r y O. H a v e in e y e r , D a n ie l O’ D a y ,
G e o . W a r r e n S m ith
P e rry Be lm o n t,
P e r c iv a l K u h n e ,
A n n o u R . F lo w e r ,
J o h n S. D ic k e r s o n ,
W in . T . W a r d w e ll*
F ra n k Curtiss,
L o w e ll 31. P a lm e r.
J a m e s YV. T a p p ln ,
H e n r y N. W h i t n e y ,
V e rn o n H . B r o w n ,
J o h n E . B o rn e ,
G eo. YV. Q u in t a r d ,
T h e o . W . 3 Iy e r s ,
S e th 31. 3 I i ll ! k e n ,
R ic h a r d D e la fie ld .
W S e w a ro W e b b .

The Investment Company
of Philadelphia,
North American Bldg., Philadelphia.

Capital Stock,
•
■
$ 2 ,0 0 0 ,0 0 0
Surplus & U ndivid. P rofits, $ 1 ,0 0 0 ,0 0 0
This Company undertakes the negotiation and
Issue o f loans and capital of Companies on the New
York or Philadelphia M arket, and w ill make advan­
ces upon approved Corporate, Personal or ReaJ
Sstate security.
Under Its charter rights i t w ill act as Trustee
Agent or Manager fo r tne control o f corporations oi
fo r the construction o f public or private works.

j . Wm. M iddendorf, Pres. A. H . R utnerfoord,T reat.
R. L . W illiams,Vice-Pres. H.P.Page, 8ec.A A u d ito r
E. C. Hathaway, General Manager.

R a ilw a y s

a n d

L ig h t

C o .

o f A m e r ic a ,
K i ic u n v i Offices :
C O N T IN E N T A L T R U S T B U I L D I N G ,

B A L T IM O R E , MD.

lee
fur­

Finances, Builds, Purchases E lectric Railways,
Electric L ig h tin g Properties, W aterworks,
Plants, etc. Exam inations made and reports
nished on all classes o f ind ustria l properties.
C o rre s p o n d e n c e S o lic ite d .