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INCLUDING
and City Section (semi-AnnuaUy)
Street Railway Section {^rJST^)
State

Bank and Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)

Entered acooraing to Act of Con^eaa, In the year 1906, by Wixjoaj* B. Ttxsx CoMPAirr, in the ottloe of Ldbrarlan of Congresa, Washington, D. O
A weeftly newspaper entered at Post Otfice, New York, as seoond-class matter— WnxiAM B. DAKA Compamt PnblUhers. 78^ Pine St.. N. Y.

VOL.

SATURDAY, MAY

82.

19,

NO.

1906.
Wcc'c cruling

—

May

2134.

12.

Clearings at

PUBLISHED WEEKLY.

Terms

ot Subscription

—Payable

Bostnn
Providence

in Adrance

For One 5i:ear
For Six Months
Enropean s.ubscrlption (including postage)
Eoropean Subscription Six Months (including postage)

$10 00
6 00
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Six Months Subscription in London (including postage)

&2
*1

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lis.

Subscription includes following Sections—

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Worcester
Portland
Fall River
Lowell
>.'ew Bedford

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(monthly)
Railway and Indcstrla.l (quarterly) Steeet Railway (3 times yearly)

Bank and QnoTATiON

Hartford

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I

Total

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|

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ot Advertising

— Per

Chicaffo

Inch Space

Cincinri.iti

$4 20

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„
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(
1

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Three Months
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(13 tunes)
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(52 tunes)

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CHICAGO OFFIC&—P. Bartlett, 513 Monadnock Block; Tel. Harrison 4012
LONDON OFFICE— Edwards & Smith, 1 Drapers' Gardens, E. C.

WlLLIAiU
Post

Office

DANA COMirANY,

B.

Pine Street, Corner
Box 95S.

NEW

Indianaprlls]

Toledo
Iporia

Orand Rapids
Oayton
Evansville

Lexington

Publishers,

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("unton

Pearl Street,

ot

Milwaukee

VORK..

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--

Kalamazoo
Youngstown
.-VUron

Fort WajTie

Rockford
Springfield,

CLEARING HOUSE RETURNS.
The following

table,

made up by

telegraph, &c., indicates

O

Bloomington
Quincy
Decatur Mansfield

that the total bank clearings of all the clearing houses of the .Jacksonville, IllSouth Bend
United States for the week ending to-day have been $2,937,- .Tackson
Ann *.rbor
against $2,936,312,249 last week and $2,729,259,785
154,175,
Tot. Mid .West.
the corresponding week last year.

—

Per

1^ Clearings Keturns tni Telegravh.
IV cek ending May 19
%l

New York
Roston
Philadelphia
nallimore
Chicago
St Louis

82,125,016,041

.51,943,120.112

.308.490,248

all cities for

_

Portland

Lake City.SpoVane

week

Tacoraa
Helena
Fargo
S oux Falls
Total Pacific.
Kan.^as City
Minneapolis

—3.6 Omaha

S2.203, 299.036

465.960.749

82,937.154,175

-

+ 9.4
+ 9.3
+ 9.1
+ 13.1
+ 13.4
—3.1
+ 5.3
+ 9.4

320.178.924

52,4.33,512,889

503,641.286

all cities
cities, 1 day

The

_

5 days

Total
Total

128,342,113
118.050,721
22,215,093
178,242.674
49,710,806
13,882,615

--

-

Seven cities 5 days
other cities 5 days
All

1905.

§1,476,058,020
117,453,700
108.232,171
19,641,579
157.227.502
51,318,861
13,188,273

Salt

___-

_

Cent.

1906.
S1.614,56C),5o9

^San Vs-ancl.'co--,
r.os -Angeles
Seattle

$2,729,259,785

+ 7.5
+ 8.1
+ 7.6

St. Paul

Denver
St. .Joseph
lies Moires
Sioux City
Wichita

Toppka

the week covered by the above will be Davenport
Color.ado Snrings
given next Saturday. We cannot furnish them to-day, Cedar Rapids Pueblo
clearings being made up by the clearing houses at noon on Fremont
and hence in the above the last day of the week
Saturday,
Tot. oth.West.
has to be in all cases estimated as we go to press Friday night. St. Louis .We present below our usual detailed figures for the previous New Orleans
Louisville
Houston
week, covering the returns for the period ending with Satur- Calvcston
liichmond
day noon, May 12, and the results for the corresponding Mciiii)his
week in 1905, 1904 and 1903 are also given. Contrasted Savannah
with the week of 1905 the total for the whole countiy shows Atlanta
Nashville
a gain of 15.2%. Outside of New York the increase over /Norfolk
Fort Worth
Birmingham
1905 is 8.0%.
Augusta --

full details for

.

.

,

.

Week ending Mmj

Knoxville
Charleston

12.

Little

Clcartm/s atI

1900.

1905.

Dec.

Rock

•Jack.sonville

Inc. or

1904.

1903.

Chattanooga ...
Mobile

Macon

New York

,943,995.S.i9 1,628,894,256

Philadolphl.a
PltLsbiirah

141.379,078
4s,.|4.-)..S.50

Baltimoro

26,345,513
7,414,472
5,779,551

BilHiil"
V/.isliln«t.in

Alnany

"5,229,721

Rochester

4,000,000
2.000,000

Srratiton
SvracM.io

.

l,(i3"),0ill

Wllmlneton

1,318.403

Ro.ndiiU
Wllkcs-n-vrre

l,26!,(l.y.l

WhoellnK
Eric
Chestor
T'.lnahariton
Green-jbiirK

Franklin

1,047,322
914.899!
583,013

478,796
.591,900

719.657
190.000

124,907.277
49,333,254
20,551.415

,166,734 029

13.1
1.8

97,026 810

4 28.2

19,230 143
0,336 770
4,-563 473

,281.142,954
119,879,632
50,458,778
22,226.335
6,775,809
4,401.414

4,607, 870

4.820, 6i'9

3,429 ,3'13
1,C.03 057

3,360.420

1,224 781
.055 244
1,178 470
826 :052

1.4.S5.073

Montreal
Toronto

1,347.860

Wlnn-peg

+

—

6.449,0.52

+

5,263,551
5 060.967
3;512,4ll

J- 13.

15.0
9.8
3.3

+
+
1.735. sn
+ 15.2
1.435.000 + 14.1
197,907
1.201,018
1,002,284
1

7,55,723

603.797
767 .087
582,500
412.224
199.068

Total Middle.. 2.103..3.37,S14 1,.S53,955,592

Columbus

+ 19.3

+ 10.1
+ 5.3
+ .5
+ 21.1
1

—3.4
—37.6

+ 1.6
+ 7.5

—4.6

30,S.59

609

1

734 7,50
535 732
191
.'^71 ;700

53i»

339 851
248 ,572

+ 18.311,347,648,447

1.5.32,3.50

Total Southern
Total all

Outside

N.Y..

Cnnada
?0 033„53l
14.061,190
4,533,583

-

fittawa
Halifax

1,990.379
1,738.148

484,301
456,361

Quebec
Vancouver
Hamilton.

1,142.100

43 1 .800

St. .John

964.628
7

69. 182

1,.572,745

969.123
1.011,962

--

530,270

London

820,1.39

220, .522

Victoria

425.313

Calgary
1,501.294.394

Total Canada

.

77,3,'

48,298.212

—
THE CHRONICLE.

1122

[Vol. lxxxil

by leading London newspapers to be because it
was believed on that side of the Atlantic that the deInterpretations by laymen of laws may be highly mand for gold by the United States was solely in the
ingenious, but they not infrequently lead to strange interest of security and commodity speculation and
After the earthquake
situations, as far from the intent of the law-maker as speculators in this country.
the interpreter could well get. Here is a case in point. and fire and on the occurrence of the extreme demand
We have reference to the Sub-Treasury Act. The real for money to send to San Francisco, Europe disconthing that statute created (the law of 1846) was an tinued every hindrance and opened its vaults wide to
independent treasury. As we have often shown. a free outflow. In other words, had the earthquake
Congress at the time of its enactment was induced to and fire and extreme demand for money antedated
adopt the legislation it did by the failure of banks in Mr. Shaw's contrivance, the gold would have come
which public funds had been deposited. Later a pro- all the same. That conclusion cannot be controverted.
vision inserted in the National Bank Act as to depos- For the situation had concurrently developed a large
itaries of public funds made a material change in the natural imperative demand for money that could not
This change has have been avoided or deferred, but must have been satdistinctive feature of the 1846 law.
been objectionable (1) because it gave opportunity to isfied instantly. That is to say, the action the SecreTreasurj^ managers to read into the bank provision tary took was not the cause of the gold imports,
almost any meaning each successive Secretary saw fit to the gold must have come had Mr. Shaw's device
adopt; and (2) because each device adopted served as a never been heard of.
We see consequently that, judged by the intent and
precedent encouraging a wider stretching of the statute,
whenever another monetary strain called for treatment. purpose of the Secretar}^, Mr. Shaw's money-making
The invariable excuse for thfese enlarged private inter- device could not be called anything but a loan. In no
pretations has been business pressure, threatened sense did it have the essence or form of "a deposit of
the only subject
panic, monetary stringency each induced by the public funds" in depositary banks
taking from the covered by the 1846 law and the only modification is to
natural action of the Sub-Treasury
banks their reserves and locking them up in Govern- be found in the provision of the National Bank Act.
ment vaults.
No kind of construction can bring Mr. Shaw's act
How to get these reserves out of those vaults has within the compass of a mere lodgment. Furtherbeen the burning question. It was easy enough to more, we repeat that the results of the Secretary's
get into an entanglement. All the Secretary had to device by no means can be measured by the imports
do to court that situation was, whenever there was in of gold that followed. They were a necessity of the
progress a surplus of Treasury receipts, to use his monetary situation which grew out of the California
The only connection
discretion by holding on to his deposits and so con- disaster land were forced by it.
tinuing to deplete banks of their cash until an embar- Mr. Shaw's movement can be considered as having had
To arrest this with the gold imports was that it opened the avenue to
rassing monetary strain was the result.
bleeding process just before the exhaustion of bank an increase of profits by the importing banks.
reserves was reached has been the field in which SecAn incident of some interest in connection with the
retary Shaw has shown marked ingenuity. His
latest contrivance has, however, been an unwise and current movement of gold hither from Europe niay be
conspicuously unwarranted venture, and although the noted, not only because of its peculiar character, but
public at the moment may not accept this opinion, no as a matter of record. When the gold which arrived
one will take pride in the operation when its character from London on Saturday and Sunday last was enAccording to the general gaged at that centre, the price of gold bars in London
is more clearly understood.
interpretation, it was a clever contrivance for inducing was 77 shillings 10^ pence per ounce and of American
an import of gold. Mr. Shaw himself stated the case gold coin 76 shillings 83^ pence these higher prefairly as he looked at it when he said in substance that miums having been imposed upon the gold for the purexchange rates showed that the gold wanted to come, pose of obstructing its withdrawal for export. On
but the cost in transit prevented; so he instituted his Saturday, however, when the consignment was on the
way of paying that item of cost, and the gold in-fiow eve of arrival the price of bars in London was reduced
followed. The Treasury of course received no part of to 77 shillings 9 pence and of coin to 76 shillings 4
the proceeds of the venture, and might as well, so far pence per ounce; hence there was a decline in the Lonas it was concerned, have deposited the money in the don market value of 1^ pence per ounce in bars and of
depositary banks by a single act; but to the banks, 434 pence in coin while the metal was in transit, which
the intermediaries, the Secretary's act proved a good decline was equal to 53^ per mille on the importation.
Assuming that this decline resulted in a loss to some
stroke of business.
and the method pursued one of the parties engaging in the importation, the
It is presumed by many
question arises, who sustained such loss? The gold was
by the Secretary has been condoned on the assumption
that we should not have had the 52 million dollars of practically imported for the account of the United
gold from Europe had it not been drawn out through States Treasury, the expected profits of the operation
the payment by our Government of the interest cost being enjoyed solely by the importing banks or bankof the metal while in transit.
That is the common ers; the Treasury was entitled to receive only a sufsum of gold to offset advances which it
belief, but it is by no means proven.
If our readers ficient
stated

THE FINANCIAL SITUATION.

—

—

—

,

—

imports made to the importers for the purpose of facilitating
into America before the earthquake and fire, it will the operation. Hence the Treasury was not concerned
be remembered that before that occurrence Europe as to the price paid for the gold. It received in exinterposed various legitimate obstacles in the way of change for its advances the gold which was brought
will recall the conditions prevailing as to gold

such a movement.

The reason

for this

was

freely

out and that yielded,

when assayed

or counted, the

I

May

THE CHRONICLE.

19 1906. J

statutory bullion value of $20 67

1123

As stated, the offer is to issue policies in the British
company for the other ones, at the same rates and
through for the same amounts. Mutual policies issued in Great

per ounce for the

bars and par for the coin.

Assuming consequently that there was a loss
the importation, the importers must have sustained Britain since 1898 have "surrender values" attached,
such loss, for they bought the gold at a premium said to be on a liberal scale, and the British office
and turned it over to the Treasury practically at par.
But through the operation of importing the gold, the
importers bought it with the proceeds of sight exchange, which bills, largely because of the premium on
the gold, ruled at figures sufficiently below the normal

would be entitled
stand to

it

amounts, which would

to collect these

as the present consideration of the transfer.

The offer applies only to these later pohcies (and to
them with some qualifications); and the condition is
made that a number large enough to guard against

gold-importing point to enable the importers to realize "adverse selection" (i. e., getting the poorer risks
a profit notwithstanding the premium on the metal. and missing the more desirable ones) shall come forTherefore

it

would seem that whatever

loss

resulted

ward at once.

The

offer is said to

be without medical

premium and its re-examination, but there is considerable reason to
turning over to the Treasury at par, was offset by the doubt whether that usual and really necessary test
considerable profit, as shown last week in this article, will not be required. At least whatever reservations
which accrued from the purchase of the reimbursing we make from these cable stories, which are not
Hence, though the operation showed a deficit officially authenticated it is plain that this scheme
draft.
equal to the difference between the price paid and the is only an instance, on a very striking and phenomenamount realized for the gold through its exchange at ally large scale, of what is known as "twisting,"
the Treasury for the securities pledged for the Govern- which is inducing policy-holders to leave one comment advances, such loss was fully made good in the pany for another. This has always been deemed
manner above noted
the most reprehensible of insurance practices, and
from the purchase

of the gold at a

—

—

,

there

The story

week

told this

scheme to transfer
the Mutual Life to a

is

no reason for approving

it

in the present case.

of the

The new loan negotiations

of the Pennsylvania
one of peculiar interest. The law Railroad Company have been one of the prominent
in this State long ago gave permission to companies features of the week in the financial markets.
On
meaning of this being Tuesday it was announced that an issue of Pennsylto "reinsure any risk," the
that a company might reduce its hazard on any policy vania Company 4j^ per cent gold notes due in Novemby getting another company to insure a portion of it. ber 1907 to the amount of $50,000,000 had been disThe PennsylIt was not contemplated that a company should posed of through Kuhn, Loeb & Co.
transfer all its policies and go out of business in that vania Company is the concern through which the

the British policy-holders of

company

British

manner, yet

— notably
down,

is

this

in the

has been done in a

time when

after the crisis

number

of cases

many companies went

Western

lines of the

Pennsylvania Railroad are con-

and the new

43^ per cent notes
of 1873, and the latest important bears the Railroad's endorsement.
The bonds were
trolled,

issue

of

which we recall was the transfer of the disposed of within the short space of two hours, the
Brooklyn to the Equitable, in 1901. All these, how- issue price being slightly below par. Messrs. Kuhn,.
ever, were cases of failure or of unsatisfactory business, Loeb & Co., it is understood, acted simply as brokers
and they were arranged by the retiring company; in the negotiation and it is figured out that the combut now we have the probably unprecedented phe- pany obtained the money at a net cost of about 5
nomenon of a movement of transfer by policyholders per cent. Considering the company's credit, thisthemselves, and from a strongly solvent and going rate might be looked upon as high. Having regard,,
concern. It is quite superfluous to say that the however, to the condition of the money market,,
Mutual is such a company and that not only is there the terms must be
viewed as
satisfactory.
no room for question about its strength but there is No doubt the company is borrowing on short-term
instance

not the least real occasion for

its

British policyholders

The explanation
plain

—

it

is

an

notes because conditions at the

movement, however,
one, showing the marks

the

of

artificial

that

there

is

British representative of
tion took effect formally

issues at

good

figures.

The former cumstances
the Mutual, whose resigna- ful flotation
a stampede.

on the 10th, has been promin-

among

bond

are not favor-

Aside from the fact that the supply of loanof able funds in the market at this time is by no means
is

that character in the attempt of the cable stories to over-abundant,

make out

moment

able to the floating of long-term

to disturb themselves.

it

must be remembered that other

are also
of

operating against

new bond

cir-

the success-

issues at low-interest rates.

Previously the large fife insurance corporations, with

tlicir enormous assets and plethoric bank balances,
"do something for" could always be relied upon to take part in new
them, and his disappointment at being unable to bond negotiations. It has often happened in the past
make any satisfactory arrangement with the com- that entire bond issues for large amounts have been
pany's office here. The tentative suggestion was put taken by the leading insurance companies without aid
out that the British members be permitted to secede, or assistance of any kind from the outside. But all
their portion of the assets being turned over to them, this has now been changed through the new insurance
but this was declined as impracticable; now the ex- laws restricting rigidly the investment field of life
manager has arranged for transfer to the British insurance corporations. Still another circumstanceoffice, to which he is to go himself as a joint manager, is operating at the moment to keep the bond market
and of course he has used his own acquaintance and dull and lifeless, and reducing the demand for bond
standing with his clients to impress upon them the issues of all kind. We refer to the fact that the fire

ent in the disturbance

policy-holders in Great

Britain, professing his desire to

desirability,

if

not the necessity, of the

shift.

insurance companies, because of the great losses in-

THE CHRONICLE.

1124

[Vol. Lxxxii.

San Francisco fire, have been sion that the demand of the Russian Douma f(jr
obliged to dispose of large amounts of their invest- general amnesty, in its reply to the speech from the
ments, where under the ordinary state of things they throne, would elicit a positive refusal of the conce.swould have been in the market as l)uyers. As regards sion; it was later reported, however, that the Emperor
the Pennsylvania Railroad itself, it is well to bear in would agree to a modification of such amnesty so

cuned

throuf^h

the

should not api)ly to political assassins. The
underwrite the SI 00 .000 ,000 8)^% convertible bonds more confident feeling on Thursday manifested in
which had been offered to the shareholders at par has the St. Petersburg and the continental bourses
only recently been dissolved it having expired by seemed to indicate that the Douma would accept the

mind too that the syndicate organized

last

year to that

it

—

Report at the time was that the
syndicate had sold about CO^^; of its holdings and that
the other 40% would be distributed among the parClearly, then, the Pennsylvania manageticipants.
ment were wise in borrowing on short time, and the
rate paid for the money does not appear to be excessive

limitation April

1.

modified concession.

The most important feature of last week's statement of the New York Associated Banks was the
increase of $3,815,800 cash and the gain of $6,995,075
item to $12,894,600.

in surplus reserve, carrying this

Loans were decreased $16,460,400 and deposits were
reduced $12,717,100, the latter causing a decrease of
$3,179,275 in reserve requirements. There was an

under the circumstances.
The Pennsylvania Railroad, as is well known, is
carrying on a very extensive amount of new work for import during the bank week from Europe of $16,the purpose of providing ,for its enormous and con- 027,478 gold, part of which may be reflected in the
stantly expanding traffic and to handle the same bank statement, as also will a transfer to San FranIt is exNaturally, it takes a cisco of $2,700,000 through the Treasury.
efficiently and economically.
great deal of money to finance these undertakings. pected that the banks at that city will on May 23
This being known, the company's borrowings attract actively resume business, and preparatory thereto
attention more by reason of the possible effect upon these institutions are drawing upon their Eastern
the money and loan markets than on their own ac- correspondents for funds; hence the comparatively
count.
tal are

Though the company's demands for new
on an extensive scale by reason of the

capi-

that

week

to that city.

facts

can furnish no occasion for
solicitude so long as its revenues keep expanding in
the present noteworthy way. As shown in these
columns two weeks ago, for the first three months of
the current calendar year there has been an improvement in the gross earnings of the lines directly operated
East and West of Pittsburgh of no less than $9,608,-

cited,

large transfers this

situation

800, and at the same time there was an improvement

Influenced by the improved condition of the local
last week's statement, and
by the moderate demand for funds for stock
speculation, the market for money has been easy this
week. Loans on call, representing bankers' balances,
were effected on the Stock Exchange during the week
at 4% and at 23^^%, averaging about S}i%', banks
and trust companies loaned at 3% as the minimum.
On Monday and on Tuesday loans were at 33^% and
On
at 3% with the bulk of the business at 33^%.
Wednesday transactions were at 4% and at 3% with
the majority at 2>}4.%- On Thursday loans were at
33^% and at 23^% with the bulk of the business at
3%. On Friday transactions were at 33^% and at
3% with the majority at 33^%. Time contracts on
good mixed Stock Exchange collateral are quoted at

banks, as indicated by
also

months in the
sum of $4,580,200. Yesterday there was a report
that the company was also placing $10,000,000 to
$15,000,000 of water bonds and $10,000,000 of equipment bonds. This would appear to refer, however,
to an old matter, as the facts are substantially the
same as those contained in an item in our issue of
March 10, page 569. In the company's last annual
434@43^% for sixty days, at 43^ @4^% for three to six
report it was stated, that owing to the increased demonths and at 5% for periods extending over the year.
mand for water arising from the growth in traffic, the
There was a better inquiry for commercial paper this
former sources of supply of water had become inadeweek, not only from local but from out-of-town buyers,
quate and on the lines traversing the coal districts
and rates were 5@53<C% for sixty to ninety day
the quality of the water was rapidly becoming unfit
endorsed bills receivable, 5@53^% for prime and 53^
for locomotive use.
It was also stated that arrange^ for good four to six months single names.
ments had been made through contracts with companies organized and owned by the Pennsylvania RailThe Bank of England rate of discount remains

in

the net earnings for the

three

road to secure an adequate supply of good water at all unchanged at
4%. The cable reports discounts of
points on the main line between Pittsburgh and New
sixty to ninety-day bank bills in London 3^%.
York and also on the more important branches, and

The open market

and the piping of
the water to the company's lines.
The cost of this
work will naturally be considerable and if the money
for that purpose has not already been obtained, it
soon will have to be. It is also known that the company must make further additions to its equipment.

for the construction of the reservoirs

and Frankfort

is

is

2^%

and at Berlin

3^@3%%.

£31,601,725 at the close of the week. Our correspondent further advises us that the gain was largely
due to the imports of gold from India, the details
of the

There was no change in official rates of discount
by any of the European banks this week; compared
with last week unofficial or open market rates at
London were easier while at Paris and in Germany
they were fractionally higher. The continental markets were unsettled on Wednesday by some apprehen-

rate at Paris

According to our
special cable from London, the Bank of England
gained £359,560 bullion during the week and held
it

movement

into

and out

of the

Bank being

as

which £500,000 from
India, £14,000 from Australia and £389,000 bought
in open market); exports, £180,000 (of which £40,000
to Malta and £140,000 to South America) and shipments of £363,000 net to the interior of Great Britain.
follows:

Imports, £903,000

(of

,

May
The

THE CHRONICLE.

19 1900.1

foreign exchange

market was irregular and gen-

A

erally lower this week.

bars in

decline in the price of gold

London on Saturday

of last

week

1125

The following shows daily posted rates for sterling
exchange by some of the leading drawers.

to 77 shillings

May
Brown

together with the firm

Mon.,

Fri..

9 pence per ounce and in the price of American coin to

May

11

/60 days 4 83
Co... .\Sisht.. ! §5^
fif) days 4
83

14

83
8GVi
83
86 J4
83
S6'A
83

Tues..
15

Wed..

May

May

S3

83

16

Thurs.,
17

May

Fri.,

May

18

S3
86"^
83
86
83

7G shillings 4 pence,
rates for
Brothers &
SUH
86H
H
Banng
83
83
iSiSlit.. 4 S()i4
&Co .__
exchange at New York, at figures above the gold-im86J^
86^
KiO days 4 83
Bank British
83
83
North
86}^
port point, and the easier tone for money in this city, Bank of America .. .. |Sie)it_. 4 8614
86H
86H
(hiys 4 83
83
83
83
iSisht.. 4 86
Montrpal
SGH
863^
86}^
86H
eliminate the international gold move- Canadian Bank
contributed to
(GO days 4 83"^
83
83
83
83
of Commerce
.ISifllit.. 4 86J^
86 H
86"^
86J^
86M
Ickel60 days 4 83
83
ment as a factor in the market situation. Though Heidelbach. Co
83
83
83
-l.Siulit.. 4 8GH
heimer &
86!^
8614
863^
86>^
H
Lazard
00 days 4 83
83
83
83
83
large consignments of gold were in transit and due to
(Sight.. 4 86H
86}^
861^
86^
CM days 4 83
Merchants'
83
83
S3
83
arrive during the week, cover therefor had been proBank of Canada- -ISight.. 4 86
86 H
86 H
86^
86 J^
H
cured concurrently with their engagement and there
market closed on Friday at 4 8210@4 8225 for
The
were no expectations of new imports in the future. long, 4 8520@4 8530 for short and 4 8570@4 8580
The market seemed to be influenced early in the week for cables. Commercial on banks 4 8170 @4 8180 and
'

.

110

J

83
86
83
86
83
86}^
83
86}^
83
86;^
83
86
83
86Vz
S3
86

.

1

1

-

J

-

-

by speculative manipulation based upon the proba- documents for payment 4 81^ @4 823^. Cotton for
bilit}^ that a considerable portion of the S50,()()0,0()0
payment 4 813^ @4 81^, cotton for acceptance 4 8170
new issue of Pennsylvania collateral notes would be @4 8180 and grain for payment 4 82@4 82i^.
placed abroad and therefore that there would be free
offerings of

exchange against these

securities.

There

was liberal speculative selling of bills following the announcement of the negotiation of the above mentioned
notes, and as the result of such sales the market grew
heavy after Tuesday, though at the decline there appeared to be an absorption of offerings due to a demand for sight exchange for the settlement of maturing
There was on Wednesday some evidence
finance bills.
of drawings of exchange by agents of foreign insurance
companies, indicating preparations for the payment
of the San Francisco fire losses; but the supply of bills
from this source was not large and the tone soon became
Though there were some security bills
steadier.
against American stocks bought for European account
commodity drafts were in only moderate supply, a rise
in wheat tending to check exports; at the close of the
week there was a firm undertone to the market.
The arrivals of gold from Europe this week have
amounted to $16,027,478, the largest for any week in
It is estimated that the gold
the present movement.
engaged, which is nearly due, exclusive of $3,800,000
from Austraha, amounts to $9,400,000; inasmuch as
the receipts thus far have been $37,703,000, when the
balance above noted shall arrive there

will

to

The following gives the week's movement of money
and from the interior by the New York banks:
Week ending

Currency
Gold

May

Received

Y

N.

18 1906.

.

Net Interior
Movement.

Sliipped by
BatiKs.

bii

Banks.

A'. 1

.

87,094,000
1.598,000

Total gold and legal tenders.

88,407,000
1,934,000

Loss
Loss

81,313,000
336,000

88,692,000

.

810,341,000

Loss

Sl.649,000

With the Sub-Treasury operations the

result

is

as

follows:
Net Change

Out of
Banks.

Into

Week ending May IS 1906.

Banks

in

Bank Holdings.

int. movem't as above..
Sub .-Treas oper. & gold imports

88,692,000
41,200.000

$10,341,000
38,200.000

Gain

Total gold and legal tenders..

849,892,000

848,541,000

Gain $1,351,000

Banks'

.

The following indicates the amount
European banks:

Loss

81,649,000
3,000,000

of bullion in the

principal

May
Bank

May

17 1906.

18 1905

of
Silver.

Total.

£

Gold.

Gold.

£

Total.

Silver.

31,601,725 3fi,579,792(
England.. 31 601,725
30.579.792
France
117 771,769! 42. 460. I54II6O. '231, 923 114.711,55X1 44.273,482 158.985,040
'

Germany

.'

Russia

Aus.-Hun.
Spain
Italy

Neth'lands
Nat.Belg

I

37 ,997.000
87 ,909,000
,301.000

5,447.000

12.7S9.000J 59.090.000

.123,000! 24.095.000| :59,21S,O00
3,9-28,100 32,445,100.
,517,000
5,735,200 1 1.252.4001
,517,200;

1.613.000

,226.000

13.429.000 53,717,000
0,227,000 110.032.000
47.923.000 13.103.000 61.020.000
14,781,000 21.55^000 36.338,000
22,577,000
3,595,300 26,172,300
6.727.700
6,283,3001 12,966,000
l,582.000j
4.746.000
3.104,000

40.2SS.OI)0
93. .356. 000 103.805.01)0

12.666,000j 50, 66:!, 00(1

4,839,0001

Total week 373,903,094 108,733,454,482,097. 1481.390,557,050 110.005.082 500.,562, 132
Tot. prev. .374,017,621107.771,355 482.388.976:389.377,991 109.790.531499,168,522

be a total of

$47,100,000, and, with the Australian consignment,
S50,900,000.

CARL SCHURZ.

This does not include, however, $3,-

Monday removes a
The
000,000 imported from Berlin at the beginning of the
movement, which was due not to Mr. Shaw's interven- remarkable and, in some respects, a unique figure
For, although Mr. Schurz
tion but to the independent action of the importing from American public life.
many years retired from active service, neverhad for
bank.
death of Carl Schurz last

exchange are 4 83 for theless his voice was in so frequent demand from the
863^ for sight. The market was platform when a political struggle was at its height
firm on Saturday of last week with long 10 points higher, that he was constantly, and in recent years often at
compared with rates at the close of the previous day, at great personal sacrifice, brought f(^rward as an es-

Nominal quotations

sixty day and 4

for sterling

86@4

4 8225 @4 8250, short 5 points higher at 4 8550©
4 8560 and cables 5 points at 4 8605@4 8610. On
Monday the tone was easier at a decline of 15 points for
long to 4 8230@4 8235 and of 5 points for cables to
4 8595@4 8605; short was 5 points higher at 4 8550@
4 8565. On Tuesday long fell 5 points to 4 8225
4 82.30, short 30 points to 4 8530@4 8535 and cables
15 points to 4

8580@4

8590.

On

sential guide

to

public opinion.

This attitude was

the natural and not unfitting sequel to a long and
Mr. Schurz himself says of
striking public career.

Henry Clay,

in his

the history of Clay

biography of that statesman, that
is

the history of the Ignited States

during the period of Clay's political activity. To a
very considerable extent the same thing might be said
Wednesday there of Carl Schurz. He 'was not. like Clay, a potent

was a decline in long of 5 points to 4 82@4 8225, of leader of political forces from the halls of legislature;
5 points in short to 4 8525@4 8530 and of 5 points in on the contrary, the most interesting fact in Mr.
cables to 4 8580 @4 8585.
On Thursday long recov- Schurz's career was that his greatest victories were
ered 10 point to 4 8210@4 8225, short 5 points to- won and his impress made most deeply upon public
4 8530@4 8535 and cables 5 points to 4 8580@4 8590. opinion when he stood in the opposition, and when at
The market was steady on Friday with short and times the contest at the moment seemed to be quite
There is no doubt that he was by bent of
hopeless.
cables 10 points lower.

.

THE CHRONICLE.

1126
mind more

effective in ojjposition

Ihan

in

advocacy

[Vol. Lxxxn.

ency which led the

jjolitical

party which had virtually

Mugwump

proscribed him for his

or defence of established policies.

proclivities to turn

The same may be said of many other eminent states- to him in the Br^'an contest, knowing perfectly well
men of this and foreign countries of Fox, for example, that his eloquence and his influence would he at their

—

from

in distinction

Men

his brilliant adversary, Pitt.

service in that remarkable campaign.

This eloquence

community, and this influence were of a striking order. It was
renown that they characteristic of Mr. Schurz that he should have re-

of this sort are of the highest value to a

and it is no derogation from their
happened not to be numbered in the ranks of distinctly constructive statesmen.
Much depends upon
circumstances as to which field of activity will fall to
their lot; still more perhaps on their own intellectual
temperament. A community which, like ours, is apt
to award the highest credit to the man of administrative capacity and achievement, frequently underrates
the value of the more philosophical public leader,
whose main office is to hold back people and government from a false course of action. His is at times
described as a policj' merel}^ of obstruction and negation.
Yet the statesman whose main work is to
attack unsparingly both men and measures, when
principle is sacrificed by them, is a fundamental necesEvil will be the day
sit}^ of our Anglo-Saxon system.
when men of this sort no longer get a hearing; it is
the}^ who, at times when the nation or community has
reached the parting of the ways, do the most indis-

tained to the very last his influence on the opinions of

countrymen

German

even when,
owing to complexity of political issues, he could not
carry their votes with him on election day. That his in-

his fellow

fluence with

them

of

birth,

at certain junctures

was

of the very

highest importance hardly admits of doubt.

In the

matter of slavery, of greenbackism and of silver, he
undoubtedly did very much to consolidate the Ger-

man

vote.

To what extent

his vigorous opposition

against the imperialistic tendencies of our

Government

had tangible influence on the

the

politics of

German

voter cannot easily be said until the question comes to

a test of public vote, as

it

has not yet done.

orator whose words changed opinions

As an

and produced

convictions on the greater issues of the day. Mr. Schurz

stood easily

among

the

American

first in

political his-

His speech was aggressive, pleasing and easy,
but always direct and incisive, and always sustained
tory.

it in its course.
so fully by the strong convictions of the speaker and
say that Mr. Schurz's public history was by the profoundness of his knowledge of literature
largely that of the country during his period of active and history, though at the same time simple enough

pensible service in halting

When we

we mean that he was conspicuously engaged for the plainest mind to comprehend, that his power
series of great contests which mark the over audiences was surpassed by that of few men in
record of our government during the past half century. our time.
That this power should have been enjoyed
service,

in the

whole

Starting, on his first arrival as a revolutionary exile over English-speaking as well as German-speaking
from Germany, with an attack on the slave system, in audiences, by a man who did not learn the English
which he never wavered, he followed this up in his language until he had reached the years of manhood,
later

career

by leading the movement against

fiat

money, by championing the then almost hopeless
cause of civil-service reform, and later on by taking
a distinguished and honorable part, despite physical
infirmity, against the free-silver-coinage

1896.

During

political allies

movement

was a remarkable and, so

far as

we can

recall,

an un-

paralleled achievement

THE DELAWARE LACKAWANNA & WESTERN
REPORT.

of

The rejuvenation of the Delaware Lackawanna &
this period he had broken with his old
because of his refusal to support Mr. Western Railroad Co. has been attended with most re-

Blaine in 1884, and had played a leading part in the markable results. It may seem like stretching things
campaigns of Mr. Cleveland. Still earlier he had left to speak of the "rejuvenation" of a property which
his

mark

term

in legislative

and administrative

life

by a has always held such a high

United States Senate during the Grant
regime, and by his occupancy of the Interior Department under President Hayes. In both, his career was
distinguished and even brilliant; yet it was curiously
in conformity with his intellectual habit that his
main achievements, both in Congress and in the Cabinet, came from his power of aggressive opposition.
In
the Senate he will be longest remembered by his attack
on proposed inflation measures; in the Cabinet, for the
in the

wanna.

And

yet that

is

with the road in recent years.
tive

position as the Lacka-

precisely

what has been done

Before the

new execu-

succeeded to control, the company, though a

staunch dividend-paying concern, was yet in many
respects behind the times.
It had become evident

if the property was to retain its high rank, old
methods would in large measure have to be abandoned
and new and progressive ideas adopted. Mr. Trues-dale recognized and understood what the need was
sternness with which he dispersed and punished the and proceeded at once to supply it.
The intense comthieving contractors who surrounded the Indian and petition that had developed made it absolutely necesland bureaus of the Government.
In short, he dis- sary to reduce the cost of handling and moving traffic

played, in

all

the various functions of public

life

per-

that

to the lowest possible

minimum

per unit of service,

formed by him, practically the same spirit which and the Lackawanna must inevitably have fallen bemarked his younger manhood, when, through partici- hind if it had not been put in position to compete upon
pating in the Prussian revolutionary movement for even terms with its rivals. To raise it to the required
political freedom in 1848, he was driven from Germany. standard involved making very extensive improveOf few public men could it be said as it can be said ments and enlarging and extending the facilities in
of Mr. Schurz, that his attitude on public questions every direction.
All this called for the expenditure
was consistent from first to last. This fact is cordially of an enormous amount of money, and the funds had
admitted, even by those who took sharp exception to to come mainly out of earnings. That, however, did
Mr. Schurz's attitude toward the Grant administration not deter the management. They went straight
and toward Mr. Blaine. It was belief in such consist- ahead with their work, and the results have justified
.

May

THE CHRONICLE.

19 190G.J

way

1127

which important savings have been
During 1905 a further addition
much reason to feel gratified (because of the better of about 16 tons was made to the average train-load,
accommodations and improved service afforded) as the bringing this average up to 461 tons. This is an increase of no less than 100 tons in the short space of
proprietors

The fruits of the new policy are seen on
every hand, and the patrons of the road have as
their efforts.

Of course the company's strong point always has
been its small amount of capital stock, the total of the
same being only $26,200,000. On account of this
fact any saving in management and any addition to
profits from that cause or from the development of
the road's business through the enlarged facihties provided necessarily means a proportionately large expansion in the return for the shares. An erroneous
impression has prevailed that the company's prosperity

is

favorable

to be attributed entirely or

situation

The company
of coal,

and

the

of

certainly

is

mainly to the

anthracite

coal

trade.

a large producer and carrier

of the

effected

in

must

suffice.

three years, for as recently as 1902 the average trainIf we go back to the last six
load was but 361 tons.
months of 1899 (no statistics being available on this
point prior to that time) we find that then the average
Hence, in less than six years
load was only 302 tons.
an improvement of over 50% has been established in
Of course wages are higher now than a
this respect.
few years ago, and fuel, materials and supplies also
cost very much more; but the improvement in the
particular mentioned, together with the growth established in traffic has made it possible to overcome these
drawbacks and at the same time increase the com,

,

during 1905 was heavier pany's prosperity.
What has been said enables one to understand the
was managed more advanhowever, that the anthracite striking inoome statement which the company pre-

this coal business

than ever before,

and

also

The truth is,
has been only one element in the company's sents in the annual report for 1905, given out for pubThe company paid
recent advance and development. The effort has been lication at the close of last week.
its regular dividends of 10% on the stock, together
to extend traffic of all kinds and in all directions
tageously.
traffic

and the various with 10% extra, making 20%, and even then shows
a surplus on the operations of the twelve months over
And these efforts have been crowned with an unusual and above these dividends and all charges of $2,698,428. This surplus is equal to 10% more on the
measure of success.
We know of no other way of indicating so graphically $26,200,000 of stock. In other words, while 20% was
what has been accomplished in these respects than by distributed on the stock, over 30% was actually
But even that does not tell the whole story.
the presentation of the following brief summary show- earned.
ing the growth in the various departments from year The 30% earned is the result after setting aside
We omit the 1900 figures because our column specifically the sum of $3,587,486 for renewals and
to year.
trunk-line freight as well as passengers,

smaller sources of

traffic, too, like

milk, for example.

improvements. Moreover, $2,281,881 of extraordinary expenditures were charged directly to expenses,
1904.
1903.
1902.
1901.
1899
1905
Calendar Year— $
S
$
S
$
$
and a further $923,650 of extraordinary expenditures
Gen'l freight. 9.230.787 8,337,823 8,354,908 7,013,424 6,6(58.689 6,300,149
Passengers... 5,529.002 5,215,919 5,083,142 4.592,036 4.522,383 3,951,051
was included in the expenses of the coal department.
Mail
181,579
181,006
180.302
149,031
122,807
194,770
Express
516,600
464,267
658,908
608,693
419.306
364.181
Altogether, therefore, there was taken from earnings
Mllk.._
567,520
707,077
652,526
514,356
505,903
482,139
Ferries
1,093,026
Miscellaneous.
543,302
474,581
650.944
488.458
492,918
696.699 during the twelve months for improvements and ex"
17,957,478 15,471,121 15.354.120 13.252,843 12,758.290 11,917.326
pg
traordinary expenditures no less than $6,793,017.
Coal ...
.13,993,585 13,230,870 13,826,844 8.145,921 10,749.344 9,407,796
B I 31,951,063 28,701,991 29,180,964 21,398,764 23.507,634 2U325.122 Truly, these are remarkable results.
It will be seen from the foregoing that aggregate
Moreover, this pohcy of applying large amounts of
earnings in the six years have risen from $21,- earnings to the improvement of the property has
gross
325,122 to $31,951,063. Of this increase of $10,625,- been pursued ever since the new
management
000 (an expansion, it will be observed, of almost a have been in control. At first the effect was to
full 50%) only $4,585,000 was contributed by the coal cut down profits
so seriously that some persons
department. The remaining $6,040,000 increase came were doubtful of the outcome. But the money spent
from the other departments. One item in this last in this way is now returning many fold, and hence we
increase, namely the $1,093,626 contributed by ferries, have the extraordinary showing of profits just referred
follows from the fact that the company now operates to.
As indicating the extent to which earnings have
directly those of its North River ferries which are run been appropriated in the way mentioned, we need
to and from its Hoboken passenger terminal, whereas refer only to the specific appropriations made out of
previously the ferries were operated by the Hoboken earnings each year.
In 1901 the sum thus specifically
Ferry Co., the control of which the company purchased taken out of income, for renewals'and betterments, was
in 1903.
The remaining $5,000,000 of the increase $2,523,127. In 1902 the amount so applied out of
represents absolute growth.
For instance, the earn- earnings was $3,058,149; in 1903 the appropriation
ings from general freight in the six years have risen was $4,319,166; in 1904 it was ;$3,446,719, while
from $6,300,149 to $9,230,787; the earnings from now for 1905, as we have seen, it is $3,587,486. This
passengers from $3,951,051 to $5,525,002, and the makes a total for the five years falling but little short
earnings from milk from $482,139 to $707,077.
of 17 million dollars.
And these amounts went enWhile thus, on the one hand, new business was being tirely for positively new additions to property and
most carefully nurtured and developed, on the other plant for new bridges, new piers, new tracks, new
hand, through the large outlays for improvements and shops, new equipment, &c., &c.
through the employment of every device for the
President Truesdale again refers to the pending
economical movement of traffic, the cost of the service legislation in Congress for regulating and controlling
per unit of traffic was steadily and largely reduced. the railways of the country through the Inter-State
On this point it is not necessary to repeat what has Commerce Commission. He says it is most significant,
been said on previous occasions, and one illustration if not alarming, that under the guise of regulating
not sufficiently wide to include all the years.
GROSS EARNINGS FROM THE DIFFERENT CLASSES OF FREIGHT.

is

—

THE CHRONICLE.

1128

[Vol. lxxxil

commerce, as empowered by the Consti- nece.ssarily confined to organizing society with a view
House of Congress should have passed to giving men equal opportunity. And this is all
a measure as radical and subversive of property rights that can be done. Of late years, however, we have
Accordingly those in charge of attempted to do more; we liave endeavored to create
as tlie Hepburn bill.
the management of the company feel it their duty to equality of life and of condition.
We have endeavored
again call the attention of the stockholders and others by municipal law to contravene natural law. We are
interested to the dangers of the situation at Washing- striving to abase some and elevate others to one dead
ton, and to urge that all proper influence be brought level of humanity.
to bear on members of Congress to so temper any proIn the chapter devoted to Natural and Artificial
posed legislation conferring the rate-making power Laws, it is pointed out that an analysis of the trend
upon a Commission that the property of the railroads of public opinion and its influence upon legislation
of the country may not be taken from them "without during the past quarter of a century, shows that we
due process of law," namely without the right of appeal have been virtually exalting false and immoral princiThis is a wise admonition. Possibly ples and condemning those which are true and moral.
to the courts.
it may be thought that the Lackawanna with its large We have exalted competition
that is, fighting and
showing of profits has less reason for concern on that condemned union that is, harmony. We have
point than other large systems. In one sense that is denounced and legislated against union of interests
true, for a small capitalization is obviously a decided and of capital, and advocated disintegration and disadvantage. But, on the other hand, it must be re- sension. We have deprecated peace in industrial
membered that in the aggregate the company does an and economic affairs, and advocated war and strife.
enormous business, counting its coal department sales J\o wonder that all such efforts to legislate against
as well as the railroad business, and a small curtail- the true principles of ethics and moralitj' and to
ment of the profits would really mean proportionately impose a state of waste and warfare have proved una very heavy loss to it by reason of this very small availing.
capital.
Most objectionalsle have been the laws which have
been enacted in favor of competition as a panacea for
all economic
ills.
They are peculiarly dangerous
SOCIAL THEORIES AND SOCIAL FACTS.
because their effect is more subtle and there are
This book * has been on the editor's desk for some
specious and surface arguments in their favor. They
It furnishes an interesting discussion of everytime.
nevertheless not only violate natural and economic
day problems problems which confront us on every
laws, but those of ethics and morality as well.
Reside and which every one is interested in seeing
duced to their simplest expression, the effect was as
solved and solved wisely. The current of thought
follows: Men were ordered to fight and injure and, if
running through the book, which is not a bulky one
possible, destroy one another's business; and harmony
is
either in size or in the matter contained in it
and agreement between competitors was forbidden,
different from that to which we have become accusthe theory being that the third party, the public,
tomed in the newspapers and magazines, while the
would profit during the warfare. So it does in the same
principles which the author advocates are on the
sense that certain people profit by actual
war.
whole such as will commend themselves to persons
But as tangible waste and destruction are not profitprinciples, too,
of sound morals and sound sense
able, neither is economic waste.
upon which the country's industrial and social adOf lat.e some perception has been growing of the
vancement has been established. On every side the
unsuccess at least, if not of the evils, of competition,
cry is for more legislation; Mr. Grinnell shows that
and hence there is a tendency to abandon this muchthere has been legislation enough. The disposition,
loved and long-cherished economic doctrine in favor
at least in the political and
too, nearly everywhere
of Government supervision, control or ownership
the newspaper world is to advocate a larger measure
The author urges that in favor of this there could be
of control, if not absolute regulation, of all the business
something said, provided our natures were radically
affairs of the country by some central authority
to
different, provided that love and charity w^ere universupplant private enterprise and private initiative by
sale as also energy and desire to w^ork) and selfishness
governmental authority and bureaucratic control.
and greed w'ere banished from the world. Being as
Mr. Grinnell demonstrates how fallacious all such
we are, it would become more and more disastrous
notions are and how harmful would be their working
inter-State

tution, either

—

—

—

—

—

—

—

—

—

—

exactly in proportion as the principle w^as extended.

in practice.

As the author

There would, indeed, be a forced equalitj'-, but it
would be at the standard of the lowest among us,
in the assumption
and inevitably tend downward.

well says, one of the fundamental

errors in current discussions lies

that the social and economic conditions
ing are new.

As a matter

now

develop-

of fact they are not

As regards

new,

but are proceeding in orderly evolution, substantially
the same as have always existed, differing in degree,
indeed, but not in kind. The fundamental inequality
of man through birth, heredity and environment has
always led to inequality of condition, unequal distribution of wealth and of opportunity.
But the progress
achieved through the centuries, and of which the two
great milestones were the introduction of Christianity
and the Declaration of Independence, has been
* "Social Theories and Social Facts."
By William Morton Grinnell
G. P. Putnam's Sons: New York and London. Price $1.

is

socialism, the only practical socialism

industrial socialism,

evolved in the

and that

economic

life

is

what

is

of the nation.

years ago corporations hardly existed.

now

being

A hundred

Business was

almost entirely individual or conducted by partnerThere was no opportunity for the investment of
ship.
savings except in land, nor were there

many

openings,

contrary to the prevalent belief, for the enterprising

and ambitious young man. The commercial, financial
and manufacturing business was conducted by small
firms who made for the times a greal deal of money,
but who usually only admitted to a share of the profits

May

THE CHRONICLE.

19 1906.

1129

The evolution of business political, which they could not obtain at home. And
form has changed all this. Through it would be the height of folly to abandon these princithe corporation or trust the ownership of property ples and to resort to.'governmental and socialistic exhas been enormously diffused, and individual oppor- periments which must inevitably result disastrously.
tunity has been correspondingly increased. The cor-

relatives of the partners.

into a corporate

poration gives the average man, with average earnings,
the only hope he has ever had or can have of a share
in

the

general

profit-making

activities

of

society.

and enterprising man is thereby
The
enabled to profit by the ability of the more intelligent
and energetic men in the community.
The United States has made the most wonderful
progress of any nation at any period in the world's
history, and the country has attained its dominant
less intelligent

position through the free play of individual initiative

nor hampered (at least until recently) by the Government, which has been mainly confined to its proper sphere, that of an impartial

and

RAILROAD GROSS AND NET EARNINGS FOR
MARCH.
The showing

of gross

and net earnings

revealed in the compilations

we

for

March, as
is a

present to-day,

very satisfactor}^ one. While the amount of the gain
does not reach the exceptional figures attained in

January and February, it is yet of good size. In the
case of the gross, the improvement amounts to $12,977,479, or 11.10%, and in the case of the net, to
$5,036,842, or 14.26%.

effort, neither assisted

March

January

(96 roads.)

1906.

1905.

1 to

March

31.

(110 roads.)
I

Inc. or Dec.

1906.

1905.

\

Inc. or Dec.

from foreign aggression or
Gr.earns 129,838,708 116,861,229!+ 12. 977.479 391. 485 .877331. 0i5.27l!4-60.4'70,606
domestic injustice. But the very magnitude of our Op.exp.i 89,488.960 81,548,323, +7,940,637j276,060,153 245.897,969i + 30,lG2,184
Netearni 40,349,748 35,312,906 +5,036,842115,425.7241 85.117.302+30.308.422
wealth has aroused and intensified the envy and
jealousy of the unsuccessful against those who have
There were some drawbacks and adverse conditions
succeeded these old vices of human nature which all in March which did not exist in the earlier months.
religions condemn and which all honest men fight As was indicated in our review of the preliminary
Mr. Grinnell thinks that since the French figures for the month, there was more than the usual
against.
Revolution there has been no such effort to foster amount of bad weather in March this year, both in the
the envy and to arouse the hate of the unsuccessful East and in the West and South.
On the other hand,
against those who are successful as is now being in March last year the weather notably improved after
made by politicians high in office, by newspapers the severe experiences of the months immediately prewith wide circulation, by university professors, and ceding. Hence the contrast between the two years in
even by the pulpit. And yet, never was there so that respect has been very striking this year in March
much general well-being and comfort as in the United considerable interruption to, and delay in, traffic
States to-day never such a widespread distribution of movements; the previous year very little interruption,
protector of

all its citizens

—

—

—

men with vast fortunes, they or
have earned them by their superior
ability, thrift and industry, and they have earned
them honestly. This we must acknowledge or otherwise we stultify ourselves and admit that we have
not executed and do not execute the elementary
criminal laws. And if we have not executed these,
how more than useless to attempt the enactment of new
and complicated laws directed against natural and
economic principles?
If there are a few men with incomes of a million
dollars a year and a considerable number with incomes
of a hundred thousand dollars a year, it is because the
total wealth of the nation is far greater than ever
wealth.
their

If there are

fathers

with considerable

traffic carried

over into that

month

from January and February. Then also the Western
grain movement underwent considerable contraction
the present year as compared with March 1905, and
at the same time there was a shrinkage in the cotton

movement

at the South.

It deserves also to

be noted
with improved earnings in gross
and net alike last year quite in contrast with the
showing for the month preceding, February, when
comparison was with totals in 1905 showing considerthat comparison

is

—

able losses in gross

March

and

net.

The following

indicates

and also
months ending March 31. The
figures in this last instance are somewhat more combefore in the history of the world, and the propor- prehensive than those for the month, since we include
tionate amount which they possess is not as large as in the same the roads which furnish quarterly exhibits
in the case of individuals similarly situated in other of their earnings, but never give out monthly returns.
nations or at other times. The number of these men
Gross Earnings.
Net Earnings
as compared with those whose incomes are $10,000 Year.
Year
Year
Inc.
Year
Year
+ or
line.
+ or
Given.
Preceding.
Dec. —
Given.
Preceding.
Dec. — ).
a year, and equally or more so with those whose
the

totals for a series of years past

those for the three

)

(

(

incomes are $1,000 a year, is proportionately less than
has ever existed at any time or in any place. The
progress of the United States under the existing order
of things has been nothing
less than marvelous.
Within a century, not to go further back, we have
made ourselves from a very poor, very small and littleconsidered nation, by far the most wealthy in the
world's history.
And this wonderful record has not
been an accident but is a natural evolution, a logical
result growing from the foundations of our country.

We

what we are because we inherited certain
exceptional equalities from our ancestors and they
are

were exceptional

men

countries for principles

because they

and

Mch.

$
S
1896
52.393.093 51.220.449
1897
56.662.338 55.792.864
1898
65.920.850 57.313.697
1899
71.322,1.33 66.7.89.833
1900 81.946 09S 72.318.540
1901
96.738.826 88.084.673
1902
97.290.104 92.943.633
1903 106.208.702 91. 541. .576
1904 110.945.055 110,657.629
1905 120.507.724 110.277.421
1906 129.838.768| 116.861.229

Ja
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906

re

.

1 to

Marc

native

for freedom, religious

and

+ 1.172.644
+ 869,474
+ 8.607,1.53
+ 4,532.300
4-9.627, .558
+ 8.654,1.53
+ 4.346.471
+ 14.667.126
+ 2S7.426
+ 10,230.303
+ 12.977.479

)

(

$
$
16.004,390 16.051.229
17.992,125 16. ,567. 339
21,833,910 18.04,5.866
23.576.7971 21.872.713
26.782.183 23.S95.780
32.780,4.391 28.903.196
31,299,387 30.736.551
33,406,751 28. .846.908
30 628 797 34.291.160
.3ti,878 227
31.654.402
40,349,748 35,312.906

$

—46,839

+ 1.424.786
+ 3.788.044
+ 1.704.084
+ 2.8.86.403
+ 3.877.243
+ .562.836
+ 4. ,559.843
-3.662.363
+ 5.223.825
+ 5.036.842

ftSl.

187.860.091 176,103
191,633.794 196.101
219.03S.430 193.521
2.30.635,578 226 .392
266. .398, lis 228.312
322,0<m.72.''> 295,345,
313.512.310 296.876,
355.484.590 .313.419,
.304.827.074 .367.987,
361.025.9701 345.876,

391.485.877 331,015

—

+ 11.756.910
—4.467.0,54
+ 25.516.827
+ 10.242,857
+ 38.08.1.786
+ 26.745.230
+ 16.635,689
+ 42,064.781
- 3,11.0.258
+ 15,149 466
+ 60,470,006

55 394.255
56.934.7871
67.170.905,'

71.270.078
82.973.388
105.065.166
95.975.444I
103.IS4..8(ir.i

90 083 07
92 964.997
115.425.724

682.440
579.727
270.329
33(i.966
.809.533

752.955
924 0961
398.412
345.748
SI 0.698
117.302

+ 4.711.815
+ 1.355.060
+ 9.900.576
+ 933.112

+ 15.163.855
+ 12.312.211
+ 3.051.348
+ 6.786.454
— 16.262.677
+ 4.154.299
+ 30.308.422

Note.
Incliulcs tor M.iroh 141 road.s In 1896: 127 In 1,897: 137 In 1,898: 123 In 1899
In 1902: 107 In 1903: 101 In 1904: 101 In 1905 and 96 In
1906.
."^nd from ,Jan
1 to March 31.
178 road.s In 1896: 171 In 1897: 168 In 1898;
157 In 1899: 154 In 1900: 149 In 1901: 145 In 1902: 143 In 1903: 127 In 1904: 118 In 1906
and 110 In 1906. Neltlior the Mexican pmd.s nor the coal-mlnlDg oporattons ot
the anthracite coal roads are Included In anj' ot these totals.

126 In 1900: 123 In 1901: 126

left their

(

).

—
4
)

.
.

.

THE CHRONICLE.

1130
Among

[You Dxxxn.

Besides the roads which make returns of both gross
but the fact and net earnings, there are a number (including a few
that the losses are more numerous tends to confirm quite prominent systems) which furnish only figures
what was said above, namely that weather conditions of gross. Starting with the total of the gross in the
were adverse in certain sections, and also that some foregoing, we add on these other roads in the table we
other drawbacks were encountered. The effects of now present, and which covers every road in the counthe separate roads, those showing gains of

amounts

large

still

the bad weather

and heavy

list,

—snow storms in the West and North

and impassable roads in other parts
most evident in the case of the
since the circumstances mentioned

try from which

has been possible to procure returns.
ROADS REPORTING GROSS BUT NOT NET.

rains

of the country

—are

earnings,

net

form an extensive

tended to swell operating expenses. In the following
we show all changes for amounts in excess of $30,000

whether increases or decreases.
PRINCIPAL CHANGES IN GROSS EARNINGS IN MARCH.
Increase

Increases

Pennsylvania (2 roads )-j/82,789, 200
Canadian Pacific
960,325
Baltimore & Ohio
800,474
Atcli Topeka & Santa Fe
736,035
Grand Trunk Ry (3 rds).
682,770
581,322
Erie
461,746
St Louis & San Francisco
372,842
Rock Island system
371,405
Norfolk & Western
327.112
Union Pacific
326,892
Southern Railway
303,215
Chesapeake & Ohio
284,970
IlUnois Central
Philadelphia & Reading. a;277,700
254,463
Atlantic Coast Line
246,054
Chicago Milw & St Paul.
228,042
Wabash

Wheeling & Lake Erie..
Clev Chic Cine & St L. . .
Nash Chatt & St Louis. .
Mobile & Ohio
Vazoo & Mississippi Val,
Detroit Toledo & Ironton
Chicago Great Western.

Western Maryland
Buffalo
Buffalo

Roch &

f;

$101,160
90,582
78,280
76,458
71,040
69,816
68,532
65,251

63,632
57,076
54,369
52,000
48,018
42,075
40,800
35,202
33,670

Pittsb..

& Susquehanna.

Wisconsin Central
Phila Balto & Wash

Long Island
Kansas City Southern
West Jersey & Seashore.

Kanawha & Michigan
Lehigh VaUey

& Nashville..
Colorado & Southern
Denver & Rio Grande
Central of New Jersey

189,167 Iowa Central
32,271
177,328 N Y Ontario & Western.
31,812
174,561 Georgia South & Fla
30,021
171,097
159,107
Hocking Valley
Total (51 roads)
$12,775,897
Cine New Orl & Tex Pac.
148,802
MinnStP
132,131
Decreases.
Northern Central
130,800 St Louis Southwestern.
36,930
Toledo & Ohio Central. .
124,527 Chic Ind & Louisville. .
32,438
Chicago & Alton
111,531
Central of Georgia
110,214
Total (2 roads)
$69,368
X These figures are for the Railroad Company; the Coal & Iron Company
reports an increase of $1 ,130,895.
y These figures cover the lines directly operated east and west "of Pittsburgh and Erie. The gross on Eastern lines increased $2,046,800 and
the gross on Western lines increased $742,400.

March.

Chic St Paul Minn & Omaha
Great Northern .system
Montana Central

Increases

Increases.

When

arranged in groups every group, without any

exception, records considerably improved results in
gross, while the anthracite coal group is the only one

having a

loss in

the net, as appears more clearly from

the appended table.

SUMMARY BY GROUPS.
Gross Earnings.

B
hi

Net Earnings.

Section or

Group.
1906.

March.
Trunk line-s.lO)
Anth. (;oal (.5)
E. &Mid. (15)
Mid. West. (13)

1905.

1906.

1905.

Inc.(+)or Dec.(

»-J

41.790,459
9.457,5.30

5,526,872
8,514,580

36.007,683
8.968,315
5,018,894
7,588,832

11.645,2.39
3.8.39,894

1.098,174
2.634.574

8.943,218
3,953,850
780,240
2,235,186

+ 2,702.021
—113,956
+ 311,934

—

%
30.21
2. .88

39.07
+399,388 17.87

Pacific (13).

&N
Southwest & S.

18,469,766

16,624.734

7,068.837

6.325.481

+743.356 11.75

Pacific (15).
Southern (25).

24,286,298
21,793,203

22.379,049
19,673.722

7.225,550
6,837,480

6,546.522
6,522,409

+679,028 10.37
+315.071 4.83

Nortliwest

Total (96).- 129,838,708 116,861,229

Mexican (3)..
Jan.

1 to

2,600.014

2.316.668

40,349,748 35,312,906
1.037.208

791.024

+ 5,036,842
+ 246,184

14.26

31.12

Mch 31—

Trunk llnes.l2)

116,252,1.37
Anth. Coal (7) 29,514.7.37
E.
Mid. (27) 36,280,605
Mid. West. (12) 23.652,881

&

97.932.009
26,175,452
31.593.851
20,126,432

30,860,
10,983,
8.074,
7.361,

579.825
553.992
034.088
950.842

Northwest
&
Nor.PaK(13)
Southwest
&

52,009,886

43,624,601

17.815.230 13.754.639

Sou. Pac. (15)
-Southern (24)..

71.407.660
62,367.971

59,768.922
51,794,004

21,385,
18.945,

+9,280,

+ 429,
+ 3,040,

+2,410,

43.00
4.07
60.39
48.69

.

281,967
121,427
121,687
5,067,306
1,012,176
3,846,686
219,785
31,003
519,098
13,107
3,763,000
100,676
7,524,362
4,803,749
1,162,108
301,745
69,063
461,237

.

.

International

Macon & Birmingham

Mo Pac sy.stem (2 roads)
Mobile Jack & Kan City
N Y Central & Hudson River.
Northern Pacific
Texas & Pacific
Toledo St Louis & Western _ .
Toronto Hamilton & Buffalo.

& Lake

Wheeling

Erie

Total (U4roads)
Net increase (10.61%)

Increase.

Decrease.

247,481
127,855
128,437
4,861,789
986,769
3,205,003
214,702
21,173
525,236
12,314
3,769,000
66,458
7,003,296
4,204,651

34,486
6,428
6.750

205.517
25,407
641,683
5,083
9,830
6,138
793
6.000

34,218
521,066
599,098

1,0.59,977

102,131

279,785
59,856
343,429

21,960
9,207
117,808

159258890 143978440 15305766
15280450

25,316

the increase in the gross for the

way

In this

1905.

129838708 116861229 12977.479

Southern
& Gt Northern.

Illinois

month

In other words, our final
total of the gross for March 1906 is $159,258,890,
is

raised to $15,280,450.

same month in 1905, the
add that last year
our totals, according to the same method of computation, recorded $12,743,311 gain, or 9.73%.

against $143,978,440 for the
increase being

The

10.61%.

We may

NEW SYSTEM OF BANK-NOTES.

A

PRINCIPAL CHANGES IN NET EARNINGS IN MARCH.

Pennsylvania (2 roads). ?/$l ,257,600 Union Pacific
$43,224
Canadian Pacific
661,837 Yazoo & Mississippi Val.
40,177
Baltimore & Ohio
517,777 Central of Georgia
38,546
Erie
452,234 Cine New Orl & Tex Pac.
37,938
Atch Topeka & Santa Fe
388,245 Iowa Central
35.527
St Louis & San Francisco
236,809 Wisconsin Central
34,028
Wabash
217,816 Chicago & Alton
32,920
Grand Trunk (3 roads). .
214,127
Chesapeake & Ohio
194,128
Total (33 roads)
$5,711,125
Rock Island svstem
189,280
Decreases.
Norfolk & Western
181 .142 Philadelphia & Reading. .t185,053
Illinois Central
138,548 St Louis Southwestern.100.111
Buffalo Roch & Pittsb..
98,736 Atlantic Coast Line
99,116
Hocking Vallev
94,935 Southern Railway
96, 490
Northern Central
84,000 Louisville & Nashville. _
73,315
Colorado Southern
72,221 Missouri Kansas & Texas
67 .978
Toledo & Ohio Central..
71,886 Detroit & Mackinac
48,249
Central of New Jersey
69,799 Denver & Rio Grande
48,010
Wheeling & Lake Erie..
68,986 N Y Susq & Western
42,702
Peoria & Eastern
66,754 Georgia RR
35.956
Nash Chatt & St Louis..
65,715 Chic Ind & Louisville ...
35 ,9 1
Detroit Toledo & Ironton
53,490
Phila Balto & Wash
52.700
Total (11 roads)
$832,894
X These figiu-es are for the Railroad Company; the Coal & Iron Company
reports an increase of $32,516.
y These figures cover lines directly operated east and west of Pittsburgh and Erie. The net on Eastern Unes increased $1,092,600 and the
net on Western Unes increased $165,000.

1906.

Reported above (96 roads) .
Ala New Orl & Tex Pac—
New Orleans & Nor East .
Alabama & Vicksburg
Vicks Shreve & Pacific
Chicago & Northwestern

Louisville

&SSM

it

following, from a correspondent at

some

contains

interesting

the plan outlined

London,
upon

suggestions bearing

by Mr. Victor Morawetz

issue of April 14 for the creation of a

in

our

new system

of

bank-notes.
The Editor" Commercial and Financial Chronicle,"

Dear

Sir.

New

York:

—In common with many others in this country

who

are either directly or inciirectly engaged in handling or
placing American securities, I have read with great interest
the plan for the creation of an issue of National Bank-

Notes outlined by Mr. Victor Morawetz in your issue of
14th inst.

The subject

is

specially interesting to

me

as I

had the

honor to read a paper on a somewhat similar subject, i. e.,
"Recent Currency Legislation in the United States of
America," before the London Institute of Bankers on
March 6th 1901. Herewith I beg to enclose a copy of that
paper, from which you will note that my principal conclusion
was that the only remedy for these currency crises to which
America is subject was to provide for the gradual retirement
of Government paper, and to substitute for it a bank-note
currency which would naturally expand and contract with
the needs of the country.
Mr. Morawetz appears to agree with this conclusion in
the main, but, if I may say so, his later conditions and principles which he has outlined are inconsistent with his earlier
ones, and if carried out would tend to make his plan impracticable

and aggravate rather than

alleviate the evil

he

seeks to cure.

In paragraph (d) he states as follows:
"All bank-notes issued should be uniform in character.
It is therefore not practicable to give the right of issuing
notes to individual banks on their own credit."
To my mind this is quite 'wrong. It is not at all necessary
that all bank-notes issued should be uniform in character,

and

it is

quite practicable to give the right of issuing notes

.

Total (UO). 391,485,877 331,015,271 115.425.

Mexlcan

(3)

7.208,214

6.242 482

2.810,

982.138
261.778
85,

117.302

949.931

+ 4,060,591
+ 7,403,
+ 3.683,
+ 30,308,

29.52

+860,

44.16

i

52.94
24.13

35.60

banks on their own credit. The essence of
sound banking is to make the notes payable in gold on
demand. This would compel the banks to maintain their
own gold reserves against the notes outstanding for the time
If the bank is well managed and in good credit
being.
to individual

May

THE CHRONICLE.

19 1906.1

If the
these notes would circulate freely, as they ought to.
contrary, they would naturally return to the issuers, and it
is this very principal of expansion and contraction which is
governed by the sound trading of the people, and good
management and credit of the banks, that would supply

that elasticity of the currency which it at present lacks,
and which all reformers desire.
Of course I know that this criticism will be met by statements that if general powers were given to the national
banks to issue notes, it would lead to what is called "wildcat"
banking, and to an excessive speculation and inflation. It
will be said that we should see again a similar state of
affairs to that which existed in the earlier days of American
banking, when all sorts of bogus schemes and speculations
were foisted upon the public. This I believe to be impossible.
Conditions are changed, people are better educated
than in those days, and the science of banking has now

1131

—

The Knickerbocker Trust Company of this city has purchased at a price said to be $1,700,000, the property at the
northeast corner of Broadway and Exchange Place, now
occupied by the Consolidated Stock Exchange. It is the
purpose to erect a new building of about 20 stories, which
when completed is intended to be one of the finest office
-

downtown

buildings in the

district.

—The downtown branch of the Lincoln Trust Company,
Broadway and Lispenard Street, opened the latter part
be served by the following advisory committee:
John Degener Jr., of C. A. Auffmordt & Co.; Stuart Dun-

at

of April, will

can, of John Duncan's Sons; U. T. Hungerford, President of
the U. T. Hungerford Brass & Copper Co.; Arthur Iselin,

William Iselin

of

&

Co.;

Decatur M. Sawyer, of Sawyer

&

Blake; Charles H. Simmons, President of the John Simmons
Co.; Horace C. Stebbins, of Grinnell, Willis & Co.; Morton
Whitman, of Clarence Whitman & Co.; and John Currie

become a fine art.
Wilmerding, of Wilmerding, Morris & Mitchell.
What we do know is that it is perfectly absurd that the
The Greenwich Bank of this city, whose main offices are
legitimate progress and sound development of the trade of a
at 402 Hudson Street, started business on Monday in its new
great people should be crippled and hampered by a currency
branch at 874 Broadway, corner 18th Street. During the
system which is antiquated and behind the times.
administration of William C. Duncan, President,

—

necessary to reassure the people,
then such restrictions as limiting the issue of notes to the
paid-up capital of the bank, or compelling banks to maintain a certain amount of gold reserve in proportion to the
notes outstanding, or some other similar guaranty, might
be tried. The freer and simpler the system of banking,
commensurate with safety, the greater the profit to the
bankers themselves, and the greater blessing to the commimity as a whole. I am, sir.
Your obedient servant,
If certain restrictions are

D. M.

MASON.

ITEMS ABOUT BANKS, BANKERS AND TRUST

CO.'S.

— The public sales of bank stocks this week aggregate
shares, of which 52 shares were sold at the Stock

and 108 shares at auction.

160

Exchange

Only one transaction in trust

company stock has been

reported, namely, a sale at auction
of 2 shares of stock of the Central Trust Co. at 2105.

BANKS.— A'cw

York. Low.
Exch. Nat. Bank.. 252 H
a!52 Coiiiinerce, Nat. Bk. of
184
13 Fourth National Bank
216)^
5 Hanover National Bank_. 500
27 Market & Fulton Nat. Bk. 270
50 Union Exchange Bank
217)^
Share.-i.

13

.A.iner.

TRUST COMPANY— Acu
2 Central Trust

Co

High. Close.
Last previous
256ya 2561^ April 1906—

186M

iS'i'A

May

216}^ 216H April
500
500
May
270
270
Feb.
217K 217>^ April

sah-.
2.53

1906— 186M
1906— 216
1906— 491
1906— 271'^
1906— 220

York.

2105
105

2105

2105

March 1906—2215

xSold at the Stock Exchange.

—

The Chicago Clearing House Association ratified on the
11th inst the appointment of James B. McDougal as special
bank examiner. The appointment is in accordance with the
resolution adopted in January through the eflforts of W. T.
Fenton, Vice-President of the National Bank of the Republic
of Chicago, providing for regular examinations of banks
using the Clearing House. The new officer enters upon his
duties immediately.
His reports, the Chicago "Interbe made to the Clearing House Committee, and in the event that they show bad or excessive
loans or other violations of the rules of safe banking, tlie
offending bank will be called upon at once for a correction
of the irregularity. The failure to make such correction
would result in the withdrawal of the privilege of clearing
checks through the association. The experience derived by
Mr. McDougal in special bank examination work under th''
Comptroller especially adapts him for the duties of the new

Ocean"

states, will

office.

—The

Real Estate Trust Company, 30 Nassau Street,
assume its new corporate title of Fulton Trust Company
of New York on Monday, the 21st inst.
The similarity existing between the name originally adopted by the institution
when organized in 1890 with the many real estate companies
formed in late years to do a strictly realty business has
often caused the trust company to be erroneously associated
with real estate trading and operations. As the Real Estate
will

Trust

Company

in

its

does a conservative trust conniany liusiucss
various branches and not a real estate businc^ss,
the trustees considered it wise to change the title to the
Fulton Trust Company.
all

four years'
the institution has established four branch banks in New
York City and built up deposits from only .$700,000 to over
The bank, organized in 1830, has a capital and
$6,000,000.
surplus of $1 ,000,000 and is one of the oldest members of the
New York Clearing House. The annual dividends are now

The 102nd dividend was recently

8%.

paid.

—

Martin W. Littleton, ex-President of the Borough of
Brooklyn, will be President of the Beaver National Bank of
this city, to whose organization we referred in these columns
Nov. 25 1905. The institution has received its charter from
the banking authorities and will open for business June 15 in
The capital is
the vicinity of Beaver, Pearl and Wall streets.

$200,000 and surplus $100,000, the stock selling at $150 per
share ($100 par). The directors are: William Grant Brown,
Donald C. Catlin, John B. Daniels, William A. Griffith,
Thomas A. H. Hay, Martin W. Littleton, I. P. Welsh,
George Mercer Jr., Thomas F. Murphy, Augustus K. Sloan,
Samuel H. Vandergrift and Earl Vogel.

—

James N. Hill was this week
York Trust Company, 26 Broad

elected a trustee of the
Street, to succeed

New

James

J.

Hill, resigned.

—The proposition to increase the capital of the New Amsterdam National Bank of this city from $500,000 to $1,000,000 was ratified unanimously by the stockholders on

Monday.

— At a meeting on
Company

May

9 the stockholders of the

Home

Brooklyn Borough ratified a proposition
to increase the board of directors from twenty-four to thirty.
The election of the new members will be deferred, it is said,
Trust

of

until the fall.

—

The Union Bank of Brooklyn Borough plans the removal of its Pioneer Branch, now at 41 Flatbush Avenue
(in

the Pioneer Storage Building) to 476 Fulton Street.
in location, the branch will be known as

With the change

the Fulton Branch.

—

Seven new directors were elected to the board of the
Second National Bank of Jersey City at a special stockholders meeting held this week.
Those chosen were as follows: Gustave W. Lembeck, Joseph A. Dear Jr., Dr. Gordon
K. Dickinson, Herbert R. Stratford, John J. Gorman,
James P. Hall and Eugene Hartnett. During the past

month

the institution has increased its deposits ten per cent.
Jr. is the newly elected President.

Samuel Ludlow

—

The stockholders of the First National Bank of Albany,
N. Y., will meet on June 9 to act with regard to the new
capital to be issued, increasing it from $200,000 to $300,000.
The decision
department

—

to enlarge the capital

May

was referred

to in this

5.

The Massachusetts Bankers' Association will hold its
convention this year on June 20 and 21, at the Hotel Somerset, Boston.
A program somewhat similar to that of last
year's has been outlined, with the exception that the reception and addresses will be given on the evening of the first
day. The second day will be devoted to the business meeting,
reports of committees and election, and social features.
Speakers from various parts of the country will be present.

THE CHRONICLE.

1132
and Boston
bankers.

will

be represented by both merchants and
is Secretary of the Association.

C. A. Ruggles

—

[Vol, lxxxii.

Andrews, and L.

S.

Cooke, on charges alleged against them

in connection with the failure of the Enterprise National

Within the next few years the First National Bank of Bank of Allegheny.
The Real Estate Savings & Trust Company of AlleBoston intends to erect for its use exclusively a bank building
of its own, having lately purchased for the purpose the gheny, Pa., will sell the new $200,000 capital authorized
corner property at Federal, Franklin and Congress streets. by its stockholders on the 1st inst at $140 per share (par
The plot measures about 100 feet on Federal Street, 150 feet $100), one-half ($70) payable June 1 and the remainder
on Franklin and 90 feet on Congress Street. As the bank's October 1. The additional stock increases the bank's
lease as well as some of the leases on its new property still capital from $200,000 to $400,000.
have some years to run, its plans concerning the new
The largest total of assets ever recorded by the thirtybuilding are not likely to be prepared at a very early date. six combined banking institutions of Lancaster County,
Albert H. Shaw has resigned as President of the Bath Pa., was reported last month, when the amount footed up
Trust Company, of Bath, Me., and has been succeeded in $36,626,248. Of this total the national banks furnished
the office by James B. Drake. Charles W. Morse, of the $20,513,727, the trust companies $15,141,525 and the
Since November 9 last the aggregate
National Bank of North America of New York, who lately State banks $970,996.
secured a controlling interest in the trust company, has been has increased over 2}^ million dollars, the amount then, as
figured by the Lancaster "Inquirer" having been $34,093,159.
elected a trustee of the institution.

—

—

—

— Edward P. Metcalf has resigned as President of the Old

— At

a meeting on Tuesday the stockholders of the
Bank of Scranton, Pa., approved the plan, previously mentioned in these columns, to change the institution
from a State to a national bank, under the title of the
People's National Bank, with a capital of $200,000 and a
After the charter under the Federal
surplus of $50,000.
laws is obtained, it is proposed to increase the capital as
soon as possible to $500,000, the surplus then becoming
The following continue as officers: Cyrus D.
$125,000.
National."
the directors of the Fourth Jones, President; Thomas Sprague, Vice-President; and
At a meeting on Tuesday of
The board of directors also
Street National Bank of Philadelphia E. F. Shanbacker, George T. Dunham, Cashier.
Cashier, was appointed First Vice-President; B. M. Faires remains without change, and includes, besides Messrs. Jones
•was made Second Vice-President, and W. Z. McLear was and Sprague, G. F. Reynolds, Richard O'Brien, C. S.
advanced from the office of Assistant Cashier to that of Woolworth, W. G. Fulton, T. C. Von Storch, M. P. Carter,
It is but five years ago since Mr. Shanbacker Samuel Samter, A. B. Warman, C. C. Rose, C. B. Sturges
Cashier.
Providence, R. I. A report that the
bank was to be absorbed by the Industrial Trust Company
of Providence is said by Frederick W. Arnold, Chairman of
the board of directors of the Old National, to be "absolutely
untrue and'without the slightest foundation." He further
states that "no trust company or other institution or individual has a controlling interest in the stock of the Old

National

Bank

of

People's

—

and with his promotion to and E. S. Dolph.
that post Mr. McLear succeeded him as Assistant Cashier.
The executive council of the Ohio Bankers' Association
The promotions this week were occasioned through the re- has decided to hold the present year's convention at the
tirement of Vice-Presidents Francis L. Potts and S. F. Hotel Victory, Put-in-Bay, on August 22 and 23. Walter
Tyler.
J. Winters, Assistant Cashier of the Commercial National
The Kensington Trust Company of Philadelphia the Bank of Coshocton, has] been chosen Treasurer of the assosecond trust company to begin business this month in that ciation, to fill out the unexpired term of the late Henry C.
opened its doors on Tuesday. The company has been Herbig.
city
organized with a capital of $150,000. George S. Cox is
A total of $157 per share is reported to have been paid
President and Charles S. Martin is Secretary and Treasurer. in liquidation to the stockholders of the Wade Park Banking
The Columbia Savings & Trust Company of Pittsburgh Company of Cleveland with the recent final payment of $10
The institution, which held a claim of about
closed its doors on the 9th inst. by order of State Commis- per share.
The company com- $16,000 against Mrs. Chadwick, was taken over by the
sioner of Banking John A. Berkey.
menced business in December 1904. It was organized with Cleveland Trust Company in December 1904.
a. capital of $200,000, of which $143,817 was>eported paid
The Circuit Court at Cleveland on the 7th inst authorThe President is William J. ized the trustees of the Indemnity Savings & Loan Company
in on November 28 last.
The institution's de- of Cleveland to accept the offer for the company's assets
Diehl, former Mayor of Pittsburgh.
State Bank made by the Assets Realization Company of Chicago.
posits (November 28) amounted to $184,216.
The
Examiner Peter G. Cameron is the temporary receiver.
latter agrees to pay 363^ per cent to the stockholders, and
At a meeting of the Board of Directors of the Columbia all of the company's debts. The institution assigned last
Trust Company of this city on Tuesday last, J. R. McGinley October.
of Pittsburgh, Pa., was appointed a Vice-President and
The proposition to increase the capital stock of the First
Jacob Wertheim was elected a director. Mr. McGinley is well National Bank of Norwood, Ohio, from $100,000 to $200,000
known in New York, being identified with the Westinghouse will be submitted to the stockholders June 6. The stock is to

was

elected to the cashiership,

—

—

—
—

—

—

—

—

—

interests in

Pittsburgh.

Columbia Trust Co.

Besides being a director of the
is also a director in the Fidelity

of N. Y., he

be sold at not

less

than $140 per share.

It is also proposed

coming meeting to authorize an increase in the board
Title & Trust Company, the Iron City Trust Company and from nine to twelve members.
the Union Fidelity Title & Trust Company, all of Pittsburgh.
The Walnut Hills Savings & Banking Company, organMr. Wertheim is President of the United Cigar Manufacized in February, opened for business in Cincinnati on the
turers' Company.
The capital is $50,000 and the officers are S. M.
12th inst.
The directors of the Iron & Glass Dollar Savings Bank McKenzie, President; Bernard Kahn and J. S. Blacker, Viceof Pittsburgh have elected John Gray Vice-President to
Presidents, and Robert Hummel Secretary and Treasurer.
Henry
succeed Robert McDonald Jr., who died April 8.
F. E. Hosterman, formerly Assistant Cashier of the
Klinzing has been elected Mr. McDonald's successor on
at the

—

—

—

the board.

—

On the 8th inst. the stockholders of the Central Trust
Company of Pittsburgh ratified the proposition to increase
the capital from $125,000 to $200,000. It is stated that
500 shares will be issued at once at $65 per share of $50.

— W.

Linderman, heretofore Assistant Cashier of the
Duquesne National Bank of Pittsburgh, has been elected
Cashier to .succeed A. H. Patterson, who has been chosen
The office of Second Vice-President
First Vice-President.
has been created, to which Robert Jenkins has been elected.
The President of the bank is John Bindley.
Indictments were returned on the 11th inst by the
grand jury against F. R. Nichols, Secretary to William H.

—

S.

Citizens' National
J.

Bank

of Springfield, Ohio, has succeeded

G. Benallack as Cashier.

—

The Moline National Bank of Moline, 111., was placed in
voluntary liquidation on the 2nd inst. The institution had a
capital of $100,000.

—

Henry G. Goll, the former Assistant Cashier of the First
National Bank of Milwaukee, who had been convicted on
nineteen counts of misapplication of the bank's funds, was
denied a new trial on the 5th inst. and sentenced to ten years'
imprisonment at Fort Leavenworth.

— A charter has been secured for the North Avenue State
of Chicago, which will locate at North Avenue and
Larrabee Street. The bank is to have a capital of $200,000

Bank

May

and a surplus

W.

THE CHRONICLE.

19 1906.

The incorporators are Frederick
Rose and Arthur W. Underwood

of $50,000.

Alwart, Landon C.

named are Vice-Presidents
and Savings Bank of Chicago.
The two

last

— William

of the Colonial

Trust

Kelley, President of the American Steel
Foundries Company, has been elected to the board of the
Commercial National Bank of Chicago, to succeed Paul Mor-

ton resigned. Mr. Morton is the President of the Equitable
Life Assurance Society, and in resigning from the Chicago
institution he observed, it is said, the policy of the trustees of
the Society to have its officers sever their connection with
financial institutions in which it is not a stockholder, and at
whose directors' meetings they would be unable to be present.

—

J. F. Lilly has replaced W. R. Barnes as Second VicePresident of the Exchange National Bank of Colorado
Springs, Colorado.

— The

Company

directors of the Mercantile Trust

of St.

Louis have elected Paul Brown First Vice-President of the
company, to succeed the late Corwin H. Spencer. Mr.
Brown had previously been a member of the executive committee, where he is replaced by W. J. Kinsella; the latter in
turn is succeeded on the board of directors by J. B. Moberly,
the Assistant Secretary.

— The

Cass Avenue Bank, incorporated in March with
$100,000 capital, opened for busine.ss on Tuesday the 15th
inst. at the southeast corner of 15th and Cass avenues, St.
His associates in
Louis. George Bothe Sr. is President.
the bank's management are J. F. Hellrung and Otto Aude,
Vice-Presidents; Louis E. Dehlendorf, Cashier, and Ross P.
Cuddy, Assistant Cashier.

&

(President of the Farmers'

The enactment

Bank

Merchants'

of

Marion).

direction of

was the result of the efforts in that
the executive and legislative committees of the
George M. Coffin, Vice-President of the Phenix

association.

V.

1133
of this bill

National Bank of New York, delivered an address at the convention on "The South: Its Duty and Destiny," in which the
progress of the South since the Civil War was reviewed. Giles
L. Wilson of Spartanburg has been re-elected Secretary and
Treasurer of the association.

—

The Continental Bank & Trust Company has been organized in Shreveport, La., with a capital of $400,000 and
It is planned to open the institution in
surplus of $100,000.
August. L. E. Thomas, who has been State Bank Examiner of Louisiana, has been chosen President of the new com
pany, and J. C. Trichel Jr. (Cashier of the Exchange Bank of
Natchitoches, La.) has been elected Cashier.

—

An agreement, subject to the ratification of the stockholders, has been entered into between the directors of the
Bank & Trust Company and the German-American
Bank of New Orleans, whereby the first named will

Security

National

liquidate, transferring its business to the

The

National.

German- American

from $1 ,200,000
shares to the stockholders

latter will increase its capital

new

to $1,325,000, allotting the

one share of German
American stock for every four shares of Security stock. Both
institutions were organized last year, the Security Bank &
Trust, with $500,000 capital and $250,000 surplus, beginning
business on July 5, and the German- American National, with
a capital of $1,200,000 and surplus of $600,000, starting on
Aug. 31. Emilien Perrin is President of the Security, and
W. R. Irby is the presiding official of the German- American.
of the Security in the proportion of

—

On Monday the 7th inst. the Vandeventer Trust Company, with $100,000 paid up capital, opened for business in
St. Louis at the corner of Olive and Vandeventer streets
a rapidly growing commercial centre very much in need of a
bank. The officers are Wm. A. McCandless, President; Wm.
W. Henderson, First Vice-President; Ernest A. Peters, Second Vice-President; C. C. Andrews, Secretary and Treasurer,
and A. B. Schulze, Assistant Secretary and Treasurer, all of

whom

are directors.

The

institution

was incorporated

in

March.

— The

first

trust

company

Topeka,
has been or-

to be established in

IMPORTS AND EXPORTS FOR APRIL.
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 summaries:

The Bureau

FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
(In the following tables three ciphers (000) are in all cases omitted.)

Exports.
Merchandise. $
361,58.3
July-Sept.
624,439
Oct .-Dec.
January .
170,603

-1905-06Imports.
$

Excess.
S

282,332

-(-79,251

-1904-05Imports.
Excess
$
$
-1-68,686
311,743 243,057

306,871 -1-217,568
106,522
-f- 64 ,081
104,233
-t- 37 ,533
113,597
+ 31,914
107,327
-t- 37, 165

466,850 284,515 -(-181,335
-1-25,254
123,597 98,343
-(-3,787
106,871 103,084
+26,547
136,978 110,431
+33,465
128,575 96,110

Kan., received its charter on the 2nd inst. It
141,766
February ganized under the name of the Prudential Trust Company of March - _
145,511
744,492
Kansas, and will have a paid-up capital of $100,000 and in April
Total. .-1,488,394 1,020,882 + 467,512
addition a surplus of $25,000.
W. W. Mills, one of the proGold and Gold in Ore.
jectors of the company, has been elected President.
The July-Sept.
13,730 —10,884
2,846
4,117
19,954 —15,837
Oct .-Dec.
other officers chosen are Thomas Page and F. D. Coburn,
January..
6,742
2,606
+ 3,136
Vice-Presidents; W. W. Bowman, Treasurer; George P. February .
8,486
2,080
+ 6,406
March ...
6,918
6,630
+ 288
Stitt, Secretary; Scott Hopkins, Trust Officer, and J. B. Lari- April
2,486
14,973 —12,487
mer, Counsel. The institution is to commence business next
-29,378
Total...
29,595
58,973
month occupying offices in the Columbian Building.
Silver and Silver in Ore.

Exports.
$

1,273,614 934,540 +339,074
14,591
38,172
16,828
14,794
2,393
1,304

—6,340

20,931
16,108
1,896
2,193
6,134
2,581

+ 22,064
+ 14,932
+ 12,601
—2,741
—1,277

88,082

48,843

+39,239

14,361
18,070
7,517
6,435
5,214
4,214

9,334
11,431
4,687
4,480
3,510
2,797

+ 5,027
+ 6,639
+ 2,830
+ 1,955
+ 1,704
+ 1,417

12,762
11,005
4,365
4,036
4,192
2,318

6,902
6,410
1,922
2,061
2,532
2,560

+ 6,860
+ 4,595
+ 2,443
+ 1,975
+ 1,660
—242

66,811

36,239

+19,572

38.678

21,387

+17,291

,

— The

stockholders of the First Savings Bank & Trust
Company of Nashville voted on the 15th inst in favor of
increasing the capital from $100,000 to $300,000.
The

was organized some months ago but began business only within the past few weeks.
Of its new stock
$50,000 will be issued to the old stockholders at par and

institution

banking business to the First
Savings Bank & Trust Company. The board of the lastnamed has been increased from thirteen to twenty-one,
and its members are identical with those of the First National
Bank of Nashville. The Merchants' National Bank, now
consolidated with the First National, was formally placed
in liquidation by its stockholders on Tuesday.
E. A.
Lindsey is the liquidating agent. These changes mark the
consummation of plans heretofore referred to.

—

charter, transferring

January .
February
March

.

April

,

$150,000 to the stockholders of the Realty Savings Bank &
Trust Company, also at par. The latter, which will hereafter engage solely in the real estate business, surrenders its

bank

July-Sept
Oct .-Dec.

Total...

+

— Excess of imports.

Exce.ss of exports.

We

subjoin the totals for merchandise, gold and silver for
months since July 1 for six years:

the ten

Silver.

Gold.

Merchandise.

its

A movement to secure the establishment of a Sub-Treasury at Charleston, was one of the matters considered and endorsed by the bankers of South Carolina at their annual session at Greenville on the 10th, 11th and 12th inst. In resolutions adopted, the Congressional representatives of the
State are urged to further the movement.
The passage of
the bill at the recent session of the South Carolina Legislature,
providing for the appointment of a State Bank Examiner, was
referred to in the remarks of President W.J. Montgomery,

Ten
Ex-

Im-

ports.

Months.

ports.

0/

1

Ex-

Im-

Exports ports.

1905-06.. l,488.394il020S82 467.5I2
1904-05.. If. 273, 014 934.540 J39,074
1903-04.. 1, 277, 715 829,2.32 448. 4K:i'
1902-03.. 223 9S9 864 XS4 359,.S05
1901-02.. 1,190 157 754.510435.641
1900-01.. 11.260 423,676.125 584.298!
1

Excess

Excess

Excess
ports

Ex-

0/

Exports ports,

.

Im-

of

ports.

Exports

$
S
55.811 36.239 19.572
88 0,S2 48,843 39.239 38.078 2 1,,387 17.291
36 SOS 83 090'o46,S2S ,?9,904! 23.033 16.931
20 095 40 752kl20.057 40,545' 20.500 20,045
46'209, 46,438
«229 42,697 24.483 18.214
37,739i 6l.017la23.2181 55.3.30i 31.707 23.623
29,595' 58.973 a29.,378

a Excess of Imports.

Similar totals for the four

years

make

months

OoU.

Merchandise.

Four
Months

1901

Ex-

-

for six

1

Silver.

Imports.

01

Im-

Ex-

Exports ports.

S

S

n2.657 23,380
23.515 14.911
n8,547 16,8,59

1

1

Ex-

ol

Exports ports.

ports.

%
%
$
$
$
602,372 43I.07S 170.094 22,032 25,289
496.021 (06 90(1 89 053 3,S 319 II. sot
490.01 1 ,?t(>:4s2 144,132 23,s.57 i2, 10
9,740
4,349
.501,499 351,709 149,790
7,004
446,034 .107, .538 1.19,090 17.917
494.511 286,394 208.117 14.045 10.893

a Excess of Impo rts.

Excess

Excess

Excess
ports.

1906
1905
1904
1903
1902

since January

the following exhibit:

(15.400

10.313
3.152
1

1

.

13.801
15.493
19,479

Imports

Ol
.

Exports

$
15,474

9,075
9,040
6.318
8.472
10.456

7.906
5.S36
7.819
7.483
7.021
9.023

——
—

.

—

—

1
1

3
6

)

THE CHRONICLE.

1134

Vol. lxxkii.
I

In these tables of totals, gold and silver in ore for all the
years arc given under the lieads respectively of gold and
silver.

Tlio following

back

to

shows the merchandise

balance! for each year

[From our own correspondent.]

1S75:

KXCESS or ME RCHANDISE IMPORTS OR EXPORTS.

London, Saturday,

10 months indinq April 30
4 months ending April 30
Imports. 83,454,139 1875
Imports. S5,688 ,626
1S75
187ti
Kxpoits. (>2,<)03,,').')t) 1870
Exports. 33,383 ,858
Exports . 43 ,2.58 ,487
ExiK)rtS-15t),,514,lt)8 1 S77
1877
Exports. 125,082 ,388
Kxi)ons.227,042,0,S7 1S78
1878
Kx|iorts. 91,8.52 ,767
Exports 41,477,822(1879.
1879
..Exports 155,276,374 1880
Exports. 18,755 ,956
1880
Exports. 84,834 ,039
1881
Exi)orts 240,546,791 1881
Exports 56,685,42711882
Imports. 8,654 ,286
1882
Exports 109,307,46211883-.
Exports. 54,731 ,992
1883
Exports 78,9.52 ,915 1884
Exports. 16,892 ,834
1884..
Exports 162,165,1301 1885.
Exports. 52,816 ,397
1885
1886
Exports 41,164,57611886..
Imports. 3,902 ,856
Exports. 1 ,61 ,S24
1887
Exports 52 ,567 ,394 1 887
Imports. 29,886 ,256
1888
Exports
3,686,437 1888
.Imports. 1 ,144 ,743
1889
Exports 26,782,236 1889.
1S90
Exports. 1 6,283 ,641
Exports 103 ,523 ,279 1890
Exports. 16,537 ,636
1891
Exports t)9, 363,621 11891
. .Exports. 53 ,546 ,335
.Exports 208 ,996 ,609 1 892
1892
57,5.52 ,160
- . .Imports
Imports. 7,487,8()7 1 893
1893
Exports. 55,565 ,443
Exports .233 ,071 ,183 1894
1894.
Exports. 3,720 ,8.54
1895
Exports. 84,024,089 1895
Exports. 55,106 ,905
1896
Exports. 83 ,032 ,729 1896
Exports. 50,438 ,737
Exports. 299 ,740,002 1897
1897
ExportS-193 ,868 ,483
Exports. 514,020, 400 1 898
1898
Exports. 146,255 ,962
Exports. 471 ,.557,021 1899
1899
ExportS-lS3,190 ,177
1900
Exports. 455,1 1 6,984 1900
Exports-208,11 ,704
1901
Exports. 584,298,012 1901
Exports. 139 ,096 ,148
1902
Exports. 435, t)40,5S0 1902
Exports. 149 ,789 ,877
Exports. 359,304,919 1903
1903
Exports. 144,1 32 ,149
Exports. 448, 483, 505 1904
1904
Exports. 89,053 ,203
Exports. 339 ,074,209 1905
1905
...Exports. 170, 693 ,.508
1906...... ..Exports. 467,512, 164 1906
.

1

1

1

May

5 190G.

The drain of gold for New York and the sharp fall in prices
on the New York Stock Exchange made the London stock
markets very feverish and anxious at the beginning of the
week. Especially the tone was extremely nervous on Tuesday and Wednesday. On Thursday a much better feeling
Indeed, as the week draws
arose and has continued .since.
to a close, there has been a growing revival of confidence.
The best informed here are convinced that, although there
w^as a good deal of speculation in New York, yet there was
no serious unsoundness. Everj'body is aware that trade is
exceedingly active and that the crop prospects at present

1

are

all

favorable.

New York

Therefore

it is

recognized that the flurry

due largely to the scarcity and dearness of
money, which of course has been much accentuated by the
deplorable disaster in San Francisco.
BHad the drain of gold continued on the same'scale in London, there were great fears that the London Stock Exchange
might also be seriously convulsed. The Bank of England is
not in a position to lose a very large amount of gold. And
when it became evident that the demands of New York were
falling almost entirely upon London, the directors of the
DEBT STATEMENT APRIL 30 1906.
Bank of England felt compelled to raise their rate of discount
The following statements of the public debt and Treasury once more to 4%. It is now understood that the Bank of
cash holdings of the United States are made up from official
For statement of March 31 1906 France is prepared to part with a considerable amount of
figures is.sued April 30 1906.
Indeed, the best opinion in Paris is
see issue of April 21 1906, page 906; that of April 30 1905, gold for New York.
see May 27 1905, page 2198.
that the Bank of France would not be at all unwilling to let
INTEREST-BEARING DEBT APRIL 30 1906.
go of at least five millions sterling. It is calculated both in
Amount
Amouni Outstanding
hiterest
issued.
Registered.
Coupon.
Total.
London and Paris that five millions sterling, in addition to
Title of Loan —
payable.
s
s
$
s
Q.—
2s, Coasols of 1930.
595,942.350 5S,S.064,650 7,877.700 595,942,350 the seven millions which have already been shipped from
Q.—P\ 198.792,060 33.209,160 30,7.36,300 63,945,460
33, Loan of 190S-18
Europe to Now York, would amply suffice for the needs of
4s, Funded loan. 1907... Q.—J. 740,9.32,900
83.000,100 .33,694,950 116,7.55,0,50
4s, Relund's certificates. Q. — J.
26.400
40,012,750
Q.— F. 102,315,400 93,273,500 25,216,400 118,489.900 the United States, that ease after a while would return, and
4s. Loan of 1925
At all events, the feeling
that all markets would improve.
.\Kgres.ate Int.-BearinK Debt- 1,737.996, 060 797,007,410 97,525,350 895,159,100
Note. — Denominations of bonds are:
Of .ilO, only refunding certificates; of -$20, loan of 1908, coupon and repistered.
in London is that if the Bank of France freelj'^ parts with the
Of S50. all issues except 3s of 1908; of SlOO, all Lssues.
Of $500. all except 5s of 1904 coupon; of $1,000, all issues.
gold required by New York, the drain from London will stop,
or S5,000, all registered 2s. 3s and 4s; of SIO.OOO. all registered bonds.
Of S20,000, registered 4s, loan of 1907; of S50,000, rc?:istered 2s of 1930.
confidence will_revive and business will become active once
DEBT ON WHICH INTEREST HAS CE.'VSED SINCE MATURITY.
more.
March 31.
April 30.
Paris was unwilling to part with much gold until May Day
Funded loan of 1891, continued at 2%, called May 18
1900. interest ceased August 18 1900
$40,200 00
S40,200 00
was over. Great fear was felt all over France that tho SeFunded loan of 1891. matured September 2 1891
26.700 00
26,700 00
Loan of 1904. matured February 2 1904
135,100 00
135,150 00
ConseOld debt matured prior to Jan. 1 1861 and later
937,375 26
937.145 26 cialists might make serious attempts on May Day.
quently the Government made vast preparations both in
Debt on which interest has ceased
$1,139,425 26 SI .139,145 26
May Day
DEBT BEARING NO INTEREST.
Paris and in the districts w-here the strikes prevail.
United States notes..
3346,681,016 00
having passed over without serious disturbance, everybody
Old demand notes.
53,282 50
National bank notes — redemption account
41,640.909 00
now is reassured and the Bank of France is ready to reduce
Fractional currency, less 38,375,934 estimated as lost or de.stroyed..
6,865,959 08
Until the result of the elections to-morrow is
its hoards.
Aggregate debt bearing no interest
$395,241,166 58
known ,'it is not probable that .there will be very much inRECAPITUL.\TION.
in

is

.J.

,

Classilication oj Debt

—

Increase (+)
or Uecreaxe (

—

March

April SO 1906.
$895,159,160 00
1.139.145 26
395.241,166 58

Interest-bearing debt..
Debt, interest ceased
Debt bearing no interest

Zl 1906.
$895,1.59,170 00
1,139,425 26

crease of activity in Paris.

But

if

the elections give the

—$10 00
—280 00

Republican Party once more a decisive majority, it is con395,184,165 .58
4-57,001 00
fidently expected that business will become very much more
Total gross debt
$1,291,539,471 84 $1,291,482,760.84
-1-56,71100
In Germany May Day passed over without any disactive.
Cash balance in Treasury.a..
307,126.224 62
309,859.322 46
-2.733.097 84
turbance at all, the leaders of the Socialist Party taking
Total net debt
$984,413,247 22
$981,623,438 38 -(-$2,789.808 84
extraordinary measures to prevent any breach of the peace.
a Including $150,000,000 reserve fund.
The foregoing figures show a gross debt on April 30 1906 But the German bourses are not likely to become verj-- much
of $1,291,539,471 84 and a net debt (gross debt less net cash more active until there is a recovery in London, Paris and
in the Treasury) of $984,413,247 22.
New York.
TREASURY CASH AND DEMAND LIABILITIES.—
There is much difference of opinion as to whether the

The cash holdings

of the Government as the items stood
April 30 are set out in the following:

ASSETS.
Tru.it Fund Holdings

—

LIAHILITIF.S.

J

—

Trust Fund Liabilities
$
550,691.869 00 Gold certificates
472,644.000 00 Silver certificates
7,661.000 00 Treasury notes of 1890.I

Gold coin

$

550.691.869 00
472.644.000 00
7,661,000 00

1

Silver dollars
Silver dollars of 1890- -.

Total trust fund
Total trust liabilities. 1.030, 996,889
1,030.996.869 00
General Fund Holdings
den Fund Liabilities
21, 174.009
60 .234 .297 45 National bank 5% fund.
49,993.480 00 Outstanding checks and
drafts
5,069,530 00
13. 357,817
7,499,809 00 Di.sburslng odlccrs' balSilverbullion
ances
1.500.648 73
59 429,834
United States notes
9,550.695 00 Post Office Department
Treasury notes ot 1890.
account
20.9()1 00
349,434
National bunk notes
11.880.323 00 Miscellaneous items
181.731
Fractional silver coin
7,425,109 32
Fractional ciurency
151 51|Total gen'l liabilities...
103.492.827
Minor coin
760.142 39)
Bonds and interest paid.
43,613 40

—

—

.

iold coin and bullion ...
Gold certificates
Silver certificates
Sliver dollars
(

Tot. in S\ib-Treas'ies.

00
60
18

85
79
10
52

153,986.760 8ol

In Nat. Bank Depositaries
CreditTreasurerortl.S.
93,063,281 51
Credit U. S. dis. officers..
9.855,490 38

j

Total in bivnks
102.918,771 89
Tn Treas. of Philippine Islands
Credit Treasurer of U. S.
Ca«/i balance and Reserve
1,728,412 91
Credit U.S. dis. olTicers.
1,985.106 54] Total cash .and reserve . . .307,126,224 62

—

|

1

1

of

3,713,519 45| Available.

Total In Philippines..
Reserve Fund Holdings
Gold coin and bullion...

Made up

—

1

I

157,126.224 62

and

R eser ve Fund

150,000,000 OOlGoldAbull. 150,000,000 00
.
1

Grand

total..

1.441.615,921 14|

Grand

total

Bank

England acted wisely or the reverse
on Thursday. One party
insists that it was well known that the Bank of France would
freely part with gold once May Day was over, and that conAnother party
sequently a rise in the rate was unnecessary.
contends that it was necessary for the directors of the Bank
of England to make it clear not only to the London money
market, but to the Paris money market as well, that it would
take whatever measures were necessary to protect its reserve, and that, in fact, its action on Thursday has materially
directors of the

of

in raising their rate of discount

1,441,615.921 14

influenced the decision of the
that may be, the directors felt

Bank
bound

of France.

However
and

to raise the rate,

As a natural
the market generally has bowed to the decision.
consequence of tho rise in rates here, the great French banks
during the week have been largely increasing the balances
they are employing in London, and by so doing they have
materially contributed to keep rates within moderate limits.
The best opinion both in Paris and in London is that the
French banks will continue to increase their balances, and
that therefore rates will be kept moderately lowin London

May

THE CHRONICLE.

19 1906.

unless of course the gold demands of the United States become very much heavier than anybody anticipates and that
there is a large drain both from London and from Paris.
The India Council offered for tender on Wednesday 40 lacs

and the applications exceeded 414

of drafts,

Is. 3

£

£

29 121510

Publio (IppositS

Othor deposits
Govornm't securities 15,977.281
Other securities
36.394,370

28. ,598. 815

11,878.5.58

29.062 450
8,328,908
48,081,460

Cirmilation

May
£

Maui.
i

Mays.

2.

1903.

1904.

1905.

1906.

May

7,544,273
41,992,418
17,279.040
26,421,383
23,673,105

40.392,171
15.629,702
29 547,577
24.908,171
35,579.631

1902.

May

h.

7.

£

29,064,670
7.689.310

29,568,245
7,965.418
41,081,113
14.824.003
28.231.702
23,957,145
35,768,390

39,075.9'10
14. .524. 291
25,609,615
24.468.492
35,358,162

Reserve, notes&coin 21,892,270
33. .821,920
Coin&bull.,bothdep 32,504,720
Prop, reserve to Uabilities
47 9-16
47 11-16
52 3-16
p.c.
385i
48J^
Bauk r.ate
2K
3
4
p.c.
3
3J^
Consols, 2>i p.c -..
89 11-16
89 11-16
92 7-16
94 1.5-16
90>i
Silver
25 3-16d.
25d.
30 9-16d.
23 1.3-16d.
26Md.
CIear.-hou.se returns 281,140,000 263.265,000 246.483,000 238,805,000 189,391,000

The

rates for

money have been
May

Bank of EnRl.and

as follows:

3H
3H
3H

Trade

bills

bills

Interest al'Mwed Jor

314

3%

4@4H

deposits —

April 12.

3H

3H(
3H(

3
3

7-16®3K

3H
3H

7-16g>3H

3y.

3

4

rate
—
3 months
—4 months
—
— 6 months
— 4 months
— 3 months

Open Market rates

Bank

April 20.

April 27.

4

7-16@3K

i3'A
&3?|

3Ji@3H

3i4(

3M®3^

3'A< >3?|

By Joint-stock banks
By discount-houses;
Atcall

2H
2%

3
314

2}^
25*

1^
The Bank rates of discount and open market rates
chief Continental cities have been as follows:
7 to 14 days.

May
Bank

Kates oj
Interest at

—

April 28.

5.

Bank

Open
Market

Rale
5

2H
s>4
3M

Amsterdam

5
4)^

3^s
AY^

Brussels

4

Paris
Berlin

3

5

Hamburg
Frankfort

St. Petersburg

Madrid
Copenhagen

May

2%

4

3%

Bank

Open

Rate. Market.
3
3
5
3%
5
3y<i
.5
3 9-16
3
2^

3¥,
4 5-16

4H
nom.
4
4H

4

April 14.
Bank.
Open

Rale
5

3«
3 7-16

2H
3%
iH

iVi

fGOLD,— There was a slight slackening in
dtiring the
w.as

which

was
000: West
April,

the demand for gold .at the close of last
stronger th.an ever and the whole of this week's arrivals have
York, which has further purchased ,£858,000 from the B^iDkot
The liank
total withdr.aw.als to date tor New York .are .£3,247,000.
week has lost £916,000 and £24,000 have been received. The Bank rate,
4% at the beginning of the year and w.as lowered to 3)4% on the 5th of
raised .again to-day to 4%
.\rrivals
Cape. £850.000: Australia. £234.Indies. £26.000: West Africa. £66.000: Brazil. £10.000; India, £4 000:

total,

it is

New

—

.

£1,190,000.

—

London

Week

May

Sal.
Mon.
d ,30 15-16 30 13-16
cents.. 89 9-16 89M
For account
89 15-16
89M
lYench Rentes (in Paris) Ir.. 99.2734 99.2734
Silver,

endin//

new 2M per

Consols,

India quotes Rs. 78 per 100 Talahs
Forward has fluctuated between y»A. and
7-16d. under cash. Arrivals— New York. £146.000: West Indies. £11 000: total,
£157,000. Shipments— Bombay, £241,425: Singapore, £1,750: total, £243,175.
MEXICAN DOLLARS. There have been a few transactions in dollars at about
Id under the price of silver.

Preferred

963-i

Preferred

9034
445^
81
71
Illinois Central
178
Louisville & Nashville
1503^
Mexican Central
2254
Mi.ssouriKan.&Texas. com. 35
PrefeiTed
7034
National RR. of Mexico
3954
146
N Y Central & Hudson
515-^
N \' Ontario & Western
Norfolk & Western, com
91%
Preferred
95
Northern Pacific
215
oPcnnsylv.ania
70'/g
aReading Co
6754
a First preferred
4734
aSecond preferred
4834
Rock Lsland Co
27
Southern Pacific
683<
39^4
•Southern Railway, com
Preferred
103
UnionPacific.com
1553i
97
Preferred
43>8
U.S. Steel Corp.. com
Preferred
1093^
Wabash
21
Preferred
47
DebentureB's
7834
a Price per share

.

for bullion are reported as follows:

May

London Standard.
Bar gold. fine, oz

3.
d.

s.

SILVER.
May 3 April 26
s.
London Standard.
d.
d.
30 11-16 30 7-16
77 l\\4 Bar silver, fine, oz
" 2 mo. delivery, oz_30;-i
76 7
.30 1-16
32 '4
76 6
Cake silver, oz
,30J^
76 6
Mexican dollars
nom.
nom.
76 6

April 2&.

I

I

77 10'4
U. S. gold coin, oz
76 7
German gold coin, oz.. 76 6
French gold coin, oz
76 6
Japanese yen, oz
76 6

1

I

I

IMPORTS
1905-06.
54.134.600
16.044.900
8.810,200
1,225.845
509.200
31.581.500
10.207.500

Thirty-live weeMs.

Imports of wheat, cwt
Barley
-

Floitf

1904-05
1903-04.
69.207.300 58,951 121
16.618.700 24.27^.568
9,243,000 10,706,398
1.505,358
1,583,980
1.179 340
1,628,358
29.4.391400

Total

89,142.494
29s. 6d.
28s. 2d.

Average price wheat, week..
Average price, season

The

1.2.8S.034

146

52%

52%

933i
95

95

9354
95
214

212

69%

69%

673f
4734
4834
273l
683i
3934
103

673i

-39

103
154

98
4254
1083^

2134
473i
V934

155'4:

154'/S

98
4234

67?^

6734
4754
4834
2634
6854
39
103

154%

47

109^

9854
423^
109
2134
48
82

98
42
1085^
21
49
8134

4734
82

9754
42'^

69%

69%
66%
4734
4834
2634
673^
38?^
103

46

1.55?-!;

3554
71
4034
145
5234
92j|
95
21334
6834
67?|
4734
483^

108%

21%

2134
48
8134

26%
673i
.'ig

103

sterling

department, made up from weekly returns, we give the
following figures for the full months, also issued by our New
York Custom House. The first statement covers the total
imports and exports of merchandise and the Customs receipts for the ten months of the last two seasons:
Merehandise Movement

New

to

York.

CtasWrns Reeeipts.
at

Month.

Imports.
1904-05.

$

.?

July

S

August
64.208,572 52.798.439 4S. .845. 396
September 58.143.285 49.280.970 45.900.930
October .
68.407.750 57.934.340 56.70S.906

November 58,782,883 57.901.844 50,393.921
December 62,084,608 57.993.880 59.171.104
January.
February.

March
April

65,414,702
63,034,102
67,654,570
65.427,317

1905-06.

1904-05.

1905-06.
1

42.676,6.39, 40.185.484

51. 186. .889

New

York.

Exports.

1

1905-06.

Total

60.787.016, 57.601.992
66.183.4.36' 48.721.595

70.546.661i 53.287,747

58.243.120 51.746,580

1904-05.

S
$
35.656.730 14.538. .886
39.594,990 17,507.282
44,585,536 17,0.30,037
48,803,417 17,869,567
45,354,507 15,8,83,364
45,280,457 16,255.886
42,508,066 18.703.721
38,180,015 16.322.548
47,289,626 18.0.38,705
49,178,417 15,191.258

$
12,991.148
15.015.971
15.042.410
15.904,940
14,701,706
13,938,399
15, ,848,906

14,597,442
15,781,796
12,530,157

624,344,678 574,356,345 512,563,655 436,431, 76ljl67,341, 254 146.352,885

.

1

The imports and exports of gold and
months have been as follows:
Gold Movement at

Month.

1903-04
,58,951.121
15,266..3S4

13,701.471

87,918,976

30s. 9d.

27s. 8d.
27s. 3d.

.30s.

New

Imports.

5d.

silver for the ten

York.

Silver

—New

Imports.

Exports.

I

York.

Exports.

1.215.176
26.,565. 403

I

1904-05.

1905-06.

I

1904-05.

1905-06.

1905-06.

S

1905-06.

$

12.983.215

(exclusive of stock

89, 1 20,663

July...

1902-03
53.603,191
12,983.215
17.615.933

84.202,399
26s. lOd.
25s. 6d.

Septemberl
October ..1

November
December
January _February

March
April

Total

469.424
413,224
1,881.936
7,455,721
261,740
376,927
290.015

155,.369
243,.5.S8!

455.4281

1.041.294
127.900
285.100!

535,552
8,283,022

,231.,s;«!

266,134!

610,9,59:

1.699,643

3.333.1761

11,806,,S68

1.151.4.S9

1.158.601

24,921,632

9,896,056

6.931,036 75,022.317

9,35.369

1,312.437
314.196!

2.781.016
3,676.154
4.774.166
3.224,823
2,766.754
4 090.875

4,84,575
173,8,83

1,2.56,3451

463,523'

3,323,996
95.320i
175.000 20,438,886
280.370
8,1:58,962
1.043.875 15,068,907
2. 589.,500 14,647,636
134.046
2,292,099

1.3.84.0451

!

281.0.571

3 43,,5,59

577.062
360.429

1.1.36,912

7.120.0,32

280.3341
224. ,36,5

3.832.-597

5.054.276

3.754.298

4.420.6201 41,074.991

United Kingdom:

Flour, equal to

This week.
...qrs. 4,070,000
qrs.
175.000

Maize

...qrs-

400.000

Last week.
2.965,000
180.000
290.000

1905.

4,045,000
235,000
490,000

—

Sloclci.

Slock fi.

1-16 interest in

tlie Printer Bovl
Mine and tlic Da.vliKlit <fc
Twiliijlit MiiiinK claiin.s, Col |$90

5 Harii.ston

TeaCo

Ltd., $10 each
2 Centra] Trust Co

of
.

N. Y.,
..J
210,5

.

Union ExclianRe Hank.. 217^
Fourth Nat. Bank
216^^

We.stchcster Trust Co. . .195
80 Phenix Ins. Co. of Brooklyn
30,5 to 310
.5 Safety Car Heat. <fe Lt
Co290
170 Star Hy^eia Ice Co
42
5 Warlmrton Hall Ass'n of
.5

13 Aiiier. Exchange National
Mank
2.52)4 -250 >^
25 Iiiternat. Grain Elev. Co. 70
5 Automatic Heat. Co., pfd. 50
27 Market <fc Fiilt'n Nat. Bk.270
4 Home Insiivanee Co
502
120 Amer. Butter Kef. Co., com 4
100 Royal Bakinj; Powder Co..

common

.

5

10

96J4

Co.

Elcc.

Lt.

&

Power Co

.

Yonkers

151

Hanover National Bank. 500
Kiiifjs

151

Bonds.
SI .000
J.

Welsbach Co. 5s 1930

& D

DIVIDENDS.

1904.

3.440.000
165,000
470,000

Auction Sales. Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. MuUer & Son:

1.3

95
213

23K

71
4034

145

52V^
923^

453i
81
7134
17734

24
3434

40

144%

91%

90

following shows the quantities of wheat, flour and
afloat to the

Wheat

.50

70
4034

7054
4034
14534
5134

S

1904-05.
69.207.300
8.027.420
11,885,943

.54.134.600
.10.207,500
.24 800,394

(lour

home-growp

maize

803i
70
17734
14834
2334
35
7034

164%

FOREIGN TRADE OF NEW YORK— MONTHLY
STATEMENT.— In addition to the other tables given in this

Atigust.
190.5-06.

Sales of

44^

149
24
3434

34%

149

90

90
45
8054
7034
178

71

149%

173
44

44%

17734
150
24

60}|
2054
173>l
44>4

20

2034
174

©omincxxiaX mx& ^xsci^lhxntoxts^txos

1902-03
53,603.191
20.118,188
9.749.101

1):

Wheat imported, cwt
Imports of

34,599,2.57
15,266,.384

8.027,420

Supplies available for consumption

on September

£

60%

143^

923^
105
1113^
97
16534
61
2034
17434
44
90
4534
81
71
178

|

The following shows the imports of cereal produce into
the United Kingdom during the season to date compared
with previous seasons:

Oats
Peas
Beans
Indian corn

ft

.

1115^
9634

80%

Fri.
31 1-16
89J^
89 11-16
99 12 >4
13J^
91V|
10534
uo>>i
97

13 J^

165%

60%

Thurs.
30J^
89 9-16
89 11-16
99.10

9154
105
1113^
963^
16534
61

9134

105%

203^
175
4534
9034
45

Erie, common
First preferred
Second preferred

Wed.

Tues.

3011-16 305i
89 11-16 899-16
89 13-16 89 11-16
99.2234 99.10
14

92
105
1123i
96>4
1663^

Canadian Pacific
166
Chesapeake & Ohio
61
Chicago Great Western
21
Chicago Milw. & St Paul
175%
Denver & Rio Grande.com. _ 44

—

GOLD.

HH

Anaconda Mining Co
135's
Atchison Topeka & Santa Fe 92
Preferred.
105
Baltimore & Ohio
112
&

Shipments— Bombay, £104.500.

SILVER. The market is still a very firm one. After a slight reaction to 30 7-16d.
we have risen to 30 ll-16d. with a good business done for the E.ast, and close lirni.

The quotations

18.

peroz

35^

5
5
3
4

3:

week, but now
been taken for
England. The

closing quotations for securities, &c., at London
as reported by cable have been as follows the past week:

3

8
nom.
7H nom.
4
4
AVz
4H
5
5
5
4H
4H
Abell write as follows under date of

&

—Per Gable.

The daily

Market

3

3%

iVi

at the

7.H

4
4V^

4>s
5

Messrs. Pixley

W-

3

iH 4 1-16
7H nom.

Vienna

April 21.

Open

Rate. Market.
2?-4
3
5
3M
5
3)4
5
3 7-16

English Financial Markets

lacs, at prices

Applicants
31-32d. to Is. 4d. per rupee.
for bills at Is. 4d. and for telegraphic transfers at Is. 4 l-32d.
per rupee were allotted about 10% of the amounts applied for
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.
compared with the last four years:

ranging from

1135

685^

The following dividends have been announced
Per

Name

of

Company

Railroads ^Steam).
Buffalo <t .Susquehanna, pref. (quar.)..
Catawis,s,a pref. stocks

Chestnut IllU (quar.)
Cln. N. O. <t Texas Pacific, pref. (quar.)

Read Ing. common
First preferred
._
Street Railways.

Kansas City Ry.

When

Cent.

Payahle.

1

2

Sept.

June

Diamond Match

(q\iar.)._
General Chemical, pref. (quar.)

234

Jtme

IH

July

Kings Co. I'.leo. 1.. * Power (quar.)
Laclede G.a-s Light, com. (quar.)

2
l^i

Preferred
.
National Lead, com. (quar.)
Preferred (quar.).
Itublier Goods Mfg. pref. (quar.)
Standard Oil (quar.)
Warwick Iron & .Steel

234

pref. (quar.)

Miscellaneous.

.

June
June
June
July

$9
2

June
June
June
June

Inclusive.

rec.

Mav

i.s

June

1

May 20
to
May 1
Holders of rec. May 10
to
May .11
Mav 20
Holders of rec. July 14
Holders of rec. Aug. 24

June
June
Aug.

13i

<t I.t..

Days
Holders of

May

1^

week:

Books Closed.

June

234

this

I

May

20

to

Holders of rec. May 31
to
July 2
June 23
to
May 31
Maj- 23

June 10
June 10
June 16

May 26

to
to
to
to

Iloldera of rec.
Holdcr.s of rec.

June 15
June 1,|»
July

2
June 15
June 9

May

21

.
.

.

.

1

THE CHRONICLE

1136
New York

City Clearing House Banks.
shows the eondition of the New
York City Clearing House banks for the week ending
It should be distinctly understood that as
May 12.
to all items except capital and surplus the figures are the
averages of the daily results, not the totals at the end of
In other words, in reporting loans and dethe week.
posits and holdings of specie and legal tenders, the practice is to take the aggregate of the amounts for the several
days of the week and divide this aggregate by the number

Statement

of

Tlie following statement

of days.

We omit
Hanks.
00s omitted.

Capital.

Manhattan Co

.

Merchants'
Mechanics'

America
Phenix
City

Chemical
Merchants' Ex.
Gallatin

&

Orov.
Mech.& Traders
Greenwich . .
American Exch.

Commerce
Mercantile
Pacific

Chatham
People's

North America.

Hanover

-

Irving
Citizens' Cent..

Nassau
Market

&

Fult.

Metropolitan ..

Corn ExchangeOriental..

Imp.
Park

&

Traders

East River
Fourth
Second
First

N.y.

Loans.

Surplus.

Nat. Ex.

Bowery

N.Y. County..

German-Amer

Fltth Avenue..

German Exch..
Germanla
Lincoln
Garfield
Fifth

S

$
2.000.0
2,050.0
2,000,0
3,000,0
1.500.0
1.000,0
25.000,0
300,0
600,C
1,000.0
300,0
700,0
500,0
5,000,0
25.000.0
3,000,0
422,7
450,0
200.0
2,000,0
3,000,0
1.000,0
2.550,0
500,0
1,000,0
2,000,0
2.000,0
750,0
1,500,0
3.000,0
250,0
3,000,0
300,0
10.000,0
1,000,0
250,0

200,0
750,0

.

Chase

1.000.0
100.0
200,0
200,0
300.0
1,000,0

2.850,0
2.590,4
1,417,7
3.544.1
3.867,7
303,3
19.726,3
7,870,8
436,3
2,274,4
150,3
376,7
605,5
4.7-24.2

12.923,7
4,552,8
665,7
1,006.9
442.7
1.979,4
7,397,8
1,118,8
746.4
331,3
1.416.1
642,8
3..390,9

1,112,3
6,858,9
7.468.4
122.3
3,002,9
1,638.9
17.487.1
901,4
775.1
835,1
550,8
5,490,1
1,753.4
762,2
904,4
1,539,8
1,310,5

250
1, 000:0

Seaboard

1.000.0

$
16,451.0
23,057,0
10,320,4
18,170,0
21,590,5
6,349,0
159,445,0
20,683.8
5,403.0
7,928,3
2,001,2
6.134.0
4.741.4
28.613,2
127.813,9
21,210.7
3,218,5
5,894,7
2,179.1
14.507,6
49,092,0
7.817.0
18,499,6
3.600.0
7.168,3
8.564.5
32.752,0
9,472,0
22,914,0
67,353,0

440

Metropolis
West Side

1,618;7
769,8
1,128,3

1st Nat..

200.0

Bklyn

Liberty
N.Y. Prod. Ex.

New Amster
Astor
Totals

all cases.

Deposits, a

Lcgals.

Specie.

300.0
1.000,0
1.000,0
500.0
350.0

667.1
2.143,5
544.4
618.2
663,7

1,184,4
17,082.0
10,526.0
86,802,8
8.700,6
3,569,0
4,868,6
3,920,0
47,131,0
10.150,4
3.395,9
3.223,0
13,237,0
7,776,8
3 132 3
10:826;6
4.214,0
14,823,0
4,502,0
10,640,1
5,744.0
5.915.3
4.835.2

[ToL. Lxxin.

New York City,

Boston and Philadelphia Banks.

lie-

%
$
2,293,0 1,510,0
5,630.0 2,177.0
2,100,9 1,057,8
3.045.0 1,706,0
4,484,8 2,127,4
1.683,0
139,0
33,558,0 7,798.9
5,178,3 1,832,1
328,0
1,190,5
826,2
633,5
488,9
76,1
980,0
648,0
718,6
585,5
4,873,7 1,757,7
13,925,1 13,104,2
2,823,3 1,343,3
308,4
386,4
734,4
974,5
167,9
566.3
2,172,6 1,136,8
8,547,6 7,294.6
859,0
322,6
2,973.3 1,709,9
265,8
397,3
966.2
729,1
246,2
1,944.0
6,945,0 3,770.0
1,636,6
384,2
3,631,0 1,440,0
16.990,0 3,373,0
227,3
137.8
1,993,6 2.837,6
814,0 2.016.0
18.584,7 2.188.7
1.847,4
371,0
487,0
200.0
974,6
487.3
749,8
187,9
12.230,7 1,611,9
2.100,8
861,8
180,0
885,0
472,6
776,1
1,409,9 2,060,2
1,740,8
297,0
672 8
159 6
1,389;3
868,2
770.0
412,0
2.399.0 1,952,0
685,0
515,0
1,759,2
580,0
1,221,6
427,9
763,2
533,9
1.029,0
168,0

$
14,139,0
27.272,0
12.508.9
17,474,0
23,568,4
5,824.0
149.104,3
26,202.3
5,718,4
5,633,8
2,772,5
6,634,0
5,350,3
22,497,5
103,567.6
17,238,4
3,630,7
6,087,4
2,777,6
13,732,9
58,057,0
6,816,0
18,368,9
3,767,2
6,775,5
9.516,1
40,524.0
9,478,1
19,692,0
77,020,0

%
26.8
28.6
26.2
27.1
•28.0

Capital

and

Banks.

Loans.

New York
S
S
S
%
Apr. 21.. 204,,777.7 1017,429,0 189.6.53,6 78.579.2
Apr. 28.. 264,,777.7 1039.210 5 186,734.3 80,803.9
May 5-. 265, 933.0 1042.110,9,1^3,140,6 79,571,3
May 12.. 265,,933,0 1025,650,5 186,443,4 80,090,3
Boston.
Apr. 28.. 42,,936.0 177.742.0 15,484,0 5,403,0
May 5.. 42,,936,0 176,591,0 14,793,0' 5,390,0
May 12.- 42,,936,0 174.466,0 15,366,0 5,556,0
Apr. 28..
May 5..

May

49,,860,0
49,,860,0
49,,860,0

12..

213,948.0
212.170.0'

May

245.352.0113.964,0
245.178.0!l4,012,0
243,249,0,13.958.0

27.2
17.3

For week

1906.

Goods

1905.

17.6
25.0

26.4
21.3
'25.7

26.4
1,388,1 •26.2

$1,948,9»7
8.978,101

$15,772,605 ll2.350,676

Total

$12,942,988

110.927.088

Sitice ./anuary 1.

Dry Goods

$64,257,181
221.139.293

General merchandise..

$56,285,584
222.624.702

Total 19 veeks

$28.5^.474 $278,910,286 $229,184,556 $231,399,594

The imports of drj^ goods for one week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York lo foreign ports for the
week ending May 14 and from Jan. 1 to date:
R.Kr-onrs

from new yop.k for the week.
1905.

1906.

For the week
Previously reported.

Total 19 weeks...

$237,175,154 $202,144,974 $183..523.028 $196,593,160

— As the figures of exports as reported by the New York
from week to week frequently show divergence from the monthly

The following table shows the exports and imports of
specie at the port of New Y'ork for the week ending May 12
and since Jan. 1 1906, and for the corresponding periods in
1905 and 1904:

Week.

Clearing

Banks

Agent.

Colonial

Columbia _ _
Consol. Nat.

$Yo",o66

$10,000
22 500
13,974,702

S4 934.522 $5,133,793 $26,306,567
29,222
32.674,625
5,063,866
•45,231,372
4,6-20,299
43,990

.

.

...

Total 1906
Total 1905
Total 19u4-.

&c.

Fidelity . ..
14th Street..

Hamilton
Jefferson
Mt. Morris.

_

Mutual
19th Ward..
Plaza
Riverside
State
12th Ward-.

23d Ward-.Union Exch
United Nat..
Yorkville
Coal & I.Nat.

84th St. Nat.
Batt.Pk.Nat.

Borough

$

305,0
640,8
17,6
197.7
231,4
8,8
167,8
25,6
17,3

248,0
16,7

878.0
40.0
63.6
349,9
261,1
41,2

619.0
264,2
104,2

Other

Deposits.

44,2
55,7
33.8
348,7
269.0
63,8
56,5
322,4
189,3
189,6
82.8
330,8
305,2
231,0
130,3
393,0
240,0
170,3
162.6
73,2
352.3
186,0
10,9
4,9

S
48.2
43,9
39,0
479,3
207,0
383.7
80.2
338.6

$

S
705,0

.

$938,860 $19,867,436
653,000
13,760
Y5"466
48,715
100,000

.

29.6
109,0
228.2
3,7

26,0

74.1

10,0
235,0
172,1
57,2
107,9

399,4
385,0
98.0
1.010,0
189.0

955,0
47,0

166,8
181,3
279,1

147,3

111.1

113,7

238,6
101,5
156,3
378.3
122,3
86,9

400,0
121,6
127,7
59,5
1.1

1.140.1
1,054,1
5,141,3
6,912,0
3,618,5
1,019,0
6,203,8
5,253.4
4,223,6
3,325,8
3,821,0
3,429,9
4,192.0
1,992,4
14,465,0
3,142,0
2,210,4
7,494,6
1,.396,3
4,047.0
3,778.2
1.167,1
445,6

Germany
^^ est

Indies

Mexico
South America
.\11

.

other countries

""3; 300

's'.sbo

Total 1906
Total 1905
fotal 1904

S957.560 $20,686,211
.304,237 11,596.378
401,160 16,433,227

$1,583
10
53,519
302,528
515 74S
32^022

$V,427
20.422
22,717

$14,566
13.34 J
9.342

$905
1

AO"'

102'491
'.33i;004

Of the above imports for the week in 1906, $2,472,214
were American gold coin and $27 American silver coin. Of
the e.xports during "the same time $10,000 were American
gold coin and $15,400 were American silver coin.
Auction Sales.

— See preceding page.

0/

Brooklyn

Borough
Broadway
Brooklyn
Mtrs' Nat

200,0
150,0
300,0
252.0

.

Mechanics'

.

1,000,0

Nat. City.-.

7.50,0
,300,0

Na.s.sau

Since Jan.

$3,258,529 $17 604 293
501,800
1.976,755
1,285,200
5.621,262
$495', 126
141,948
6,497
122 611
584,046
3,207
680 802
3.821. 00
77.252
1,308
34.360
98;896

_...

Deposit with

Week.

Since Jan.

Great Britain
France

South America
Net

Imports.

Exports.

Gold.

Sliver.

Chelsea Exch

Custom House
comby adding

totals, also

piled by the Custom House, we shall from time to time adjust the totals
to or deducting from the amount "previously reported."

.Mexico

Bank

13.6
32.7
65,3
72.3

$10,248,387
186,346,773

Note.

France
%
100.0
154.4
867,2
200.0
136.1
1.178,0
100,0
75.2
876,1
100,0
332,4 4,346,5
300,0
379,3 6,852,0
1,000,0 1.079,8 5,028,4
200,0
130,2
1,034,2
500.0
114,3 5.230,2
200,0
142,5 4,750,5
400,0
435,2 4,301,2
250,0
161,4
2,797.7
200.0
285,4 3,835.2
200,0
224,9 3,149,4
100,0
280,4 3,6.34,0
100,0
103,1
1.776,2
100,0 1,186.3 12,143,0
200,0
159.3 2,636,0
100,0
137.2
1,856,6
750,0
668,2 7.770.7
1,000.0
184,8 2,291.1
100,0
327,3 3,558,9
.300,0
266,5 3,567,0
200,0
200,6
1,200,3
200,0
108,8
629,9

1903

1904.

$12,551,511
189.593,463

Gre.1t Britain

Man.&Br'x.

$55,715,153
175,684,441

EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.

Boroughs 0}
Wa,sh. H'g'ts

1903.

$1,096,993
11.845,995

'23.0

City.

Century

1904.

$1,852,669
10,498,007

$2,267,554
13,505,051

•25.4

18.652.0 25.9
10,956,0 •25 .8
75,.371,0 27.5
8,423,4 •26.3
3,906.0 17.5
5.807.6 •25.1
3,806,8 24.6
53,430,5 25.9
11.342.4 •26.1
4,429,7 •24.0
5,819,7 21.4
14,254.9 24.3
8,063,4 25.2
3,312,1 25 1
10.561.2 21.3
4,566,0 '25.8
17,017,0 '25.5
4,732,0 25 .3
8,831,5 •26.4
6,694,1 •24.6
6,636,2 19.5
4.806.0 24.8

Notes

N.Y.

154.911,8
173,443.1
141.379.1

beginning first week in January.
FOREIGN IMPORTS AT N'EV.' YORK.

All other countries.

and

157.807.2
179.632,0
154,317.7

11; also totals since

West Indies

Specie.

7,433,0
7.475,0
198.498.0i 7.467.0

—

Germany

ments.

202,781.0
202,475,0

Imports and Exports for the Week. The following are
the imports at New York for the week ending for dry goods
May 10 and for the week ending for general merchandise

•24.0

two ciphers (00) in all cases.

Invest-

$
$
s
1007,464.3'51.481.3 2.126,247,3
1028,683.2 31,138,4 1,965.375 6
1027.273,5 50,844, 2'2.590.218,
1014.556, 450,378,7 1.943.995.9

a Including for Boston and Philadelphia the Item "due to other banks" and
Government deposits. For Boston the.se Government deposits amounted on
on May 12 to $3,587,000; on May 5 to $2,754,000.

General merchandise..

results.

plus.

Cltaringt.

also

—

Legal
Tender

I

00.249.0
59.074.0
57.809,0

211. .326,0

19.1

28.0
26.4

Reports of Non-Member Banks. The following is the
statement of condition of the non-member banks for the
week ending May 12 1906, based on average of daily

Loans
and

Circulation.

r»ry

a

Sur-

Deporilt.m

Legali.

Specie.

Surplus.

a Total United States deposits Included, $37,010,500.

Banks.
00s omitted. Capital.

Nat

North Side..
100,0
Union
1.000,0
Jersey City.
First Nat__-

Hud.Co.Nat.
Third Nat. .

119,0 2,458,9
370.2 2,751,5
164,4
1,924,9
654,8 4,516,0
822,3 11,988,8
829,
6,242,0
608,1
3,354,0
202,9
1,752,6
1.010,0 11.032.0

38.1
15,8
133.8

303,0
331.9
232.0
129,0

178,6
211,1
76,3
209,1
5S0,6

505,0
288,0

22,8

110,5

249.0

500,0

257,6
200,3
281.1
657,1
2,444,5
S92,0
697,0
42,4
1,191,0

'

Second Nat.

TEAKSCONTINEKTAL MAP

170,3
2,874,9
62,9
2,895,6
59,0 2,198,4
256,0 4,943.9
166,9 14,901,1
6,043,0
ib"7';6
3,904,0
144,6
1,780,3
752.0 12,129,0

Mailed upon request.

Spencer Trask

4,819,4
2,706,6
1,739,2

159,8
92,4
46,4

322,4

110,0
125,0

2,751,4
1,586,3

170,2
45,9

76.1

1.814.7
175,5

69,2

346,3

34,9
54,9

104,9
54,8

2.699,8
1.498,6

6,651,8 7.462,0 14.816,8
6,604,7 7.142,6 15,095,7
7,050,4 7,356,1 14,9.Si).8

156398,3
150376,9
159452,8

528,0
69,2
30,4

6.094.6
2,301,9
1,895,1

557.7
183.8

Tot. May 12. 12037,0 14960,7
Tot. May 5.!l2037,0 14960,7
Tot. Apr. 28.1 13037,0 15394.7

&

Q>»,

Investment Bankers.
Sranch

400,0 1,148,0
250.0
681,5
200.0
322,7

Hoboken.
First Nat--.

is

do not include results for non-member banks.
We omit two ciphers (00) in all then Jiffura.

figures

31.2
27.7
26.7
26.5
25.9
20.3
24.5
24.3
29.4
26.0
24.1

117.472.7 148,460.3 1025,650.5 186.443.4 80,090.3 1014,556,4 26.3

We omit

— Below

summary of the weekly returns of the Clearing House banks
of New York City, Boston and Philadelphia.
The New York
a

I Phlla.

se've

Bankof N. Y..

Butch.

two ciphers (00) in

5
I

J
I

.

.

Ofl&ce,

Albany, N.Y.

WiUiam and Pine Sts., New York.

Moffat

&

White,

members New York i^tock £xchanae,
6 NA8SAD STRBBT,
HANOVBB BANK BUILDINe,
IDealers in InTOstinent Securities.
COM.niS^ilOIW OKDBK8 EXECUTED FOR CAi^H ONLY.

May

THE CHRONICLE.

19 1906.]

—

State and Railroad Bonds.
Sales of State bonds at the
Board are limited to $30,000 Virginia 6s deferred trust re-

^ankjers' (§Kzzttt.
For Dividends

see

page 1135.

May 18 1906.
Situation.
There has
been a mild reactionary tendency in the security markets
since our last report, which is doubtless logical enough after
the vigorous advance in prices noted last week. An advance
in the anthracite coal stocks in the face of a declining
tendency otherwise throughout the railway list is presumed
to reflect the satisfaction that is felt over a settlement of the
labor controversy, which has been a disturbing element for
some time past.
General conditions remain practically unchanged, unless
we except a renewal of the transfer of funds to San Francisco
and some interest as to the probable results of this movement upon the money market here. The latter up to this
writing continues easy, however, owing, as is well known, to
the gold-import movement, which now amounts to about
Wall

Street,

Friday Night,

—

The Money Market and Financial

$52,000,000.
The event of the week in financial circles has been the
placing of a short-time loan by the Pennsylvania Railroad
Company for $50,000,000, and it is reported to-day that an
additional $25,000,000 has been arranged for abroad.
To
such an extent has this matter absorbed the attention of investors that the transactions in bonds have been considerably reduced.
Rain has fallen in the Southwest, where it was much
needed, and weather conditions throughout the country
The Government
are generally favorable for agriculture.
report on our international trade for the month of April,
and for the ten months ending May 1, given out this week,
is exceptionally favorable when compared with previous
records
The open market rates for call loans on the Stock Exchange during the week on stock and bond collaterals have
ranged from 23^ to 4%. To-day's rates on call were 3@,

5@5^%

for
3/^%- Prime commercial paper quoted at
endorsements and 5@53^% for best single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £359,560 and the percentage
of reserve to liabilities was 41.46, against 39.35 last week.
The discount rate remains unchanged at 4%. The Bank
of France shows a decrease of 4,650,000 francs in gold and
an increase of 1,100,000 francs in silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
Diijerences

JTom

1906.

May

$

Capital

_.
Specie
Legal tenders

13.

$

Dec. 16,460,400
Dee.
465,500
Dec. 12,717,100

1904.

May

14.

$

115 972 700
115,972.700
133'809'000
137.650.500
1,099,716.900 1,078;928,'600
36 003 700
44,698.700
1,150.219.700 1.129;615;400
218 134 500
219.888,300
84,379.200
77,096,600

of deposits

3,296,800
519,000
3.815.800
3,179,275

304,267.500
287.554,925

295,231,100
282,403,850

12,894,600 Inc.

_

Inc.
Inc.

266,533,700 Inc.
253,639,100 Dec.

.-

Reserve held

25%

$

117,472,700
148,460,300
1,025,650,500
50,378,700
01,014,556,400
186.443,400
80,090,300

Loans and discounts, _
Circulation
Net deposits

1905.

May

previous week.

12.

1157

6,995,075

16,712,575

ceipts at 22 to 24.
The market for railway and industrial bonds has been
generally dull and narrow, and with few exceptions prices
have shaded off fractionally.

feature has been Wabash debenTransactions in them during the early part of the
week were on a very large scale, and the price advanced to 80,
Later, interest in them has diminished
a gain of 4 points.
and they are down a point. Interborough Metropolitan 43^3
have been prominent in the unlisted market of late, and although more or less irregular in movement are nearly 2 points
lower than last week. Other than the above, interest has
centered largely in industrial i.ssues, including American
Tobacco, United States Steel, Distilling Securities Corporation and Colorado Industrial issues.
United States Bonds. Sales of Government bonds at the
Board include $5,000 2s reg, 1930 at 1033^ ,$9 ,000 3s coup.,
1908-18, at 102J4 to 103 J^ and $1 ,000 4s coup., 1907, at 1033^.
The following are the daily closing quotations; for yearly
range see third page following.

The most conspicuous

ture Bs.

—

Interest

2s,
2a.
38.
38,
33,
48,
43.
4s,
4s,

May

May

May

May

May

12

14

15

16

17

18

—Jan
—Jan
Q— Feb
Q— Feb
—Jan
Feb
— Jan
— Feb
—
— Feb

registered Q
1930
coupon Q
1930
registered
1908-1918
coupon
1908-1918
1908-1918.. small coupon Q
rcglsteredQ
1907
coupon Q
1907
registered Q
1925
coupon Q
1925

* This

19

103H *103H *103H *103H *103H 103H
*103h *103>i *103>| *103M *103H *103H

*103

*129H 129!^ *12eH *129H *129« *129H
*129H *129H 1291^ *129H *129H 129H

—

,

and more or less irregular process.
Almost the only exceptional features of the railway list
are the anthracite coal shares, which have been strong, and
Flucclosed higher on the settlement of the labor question.
tuations have been Avide in Great Northern and Northern
Pacific, the former having covered a range of nearly 10 points,
close with a net loss of 3 to 3 j^ points.
All the copper stocks have also recorded substantial gains
on the exceptionally favorable report of Anaconda mining,
which closes 2}/2 points higher than last week. American

and both

Sugar Refining has been strong, and Consolidated Gas is up
over 2 points. Steel preferred has fractionally declined and
the common is down over a point.
For daily volume of business see page 1145.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
8aUt
STOCKS
Bange sinee Jan 1
for
Range for week

May

18

Week
Lowest

on May
Note.

5.
— Returns

of separate

banks appear on the preceding page.

*103

103 M

the price bid at the morning board; no sale was made.

Week Ending

a $37,010,500 United States deposits Included, a^ainsi $do.y<l.iUO mst weeK aua
$15,734,200 the corresponding week of 1905. With the.se United States deposits
eliminated, the surplus reserve would be $22,147,225 on May 12 and $14,892,450

*10234 *1023^ 102M
1021^ 1025/4
102n *102?2
102 14 *102!^ *102H
103J4 *103H *103Ji
103 H *103>-i *103V|

*103

103

*103
*103
*102H
*103>4 *103M *103}i
*103!.| *103i4 *103j|

Railroad and Miscellaneous Stocks. On a volume of business somewhat smaller than for some time past the stock
market has generally been inclined to hesitancy and reaction.
These characteristics have been emphasized to-day, and as a
consequence a large part of the active list is from 1 to 4
There has been little change
points lower than last week.
in the tone of the market from day to day, and the lower quotations noted have, in most cases, been reached by a gradual

12.827.250

Surplus reserve

May

Periods

A880 Kerchante, 1st pref

BaU & Ohio rights
Canadian Pacific rights
Chic Burl <fe Quincy
Comstook Tunnel
Detroit South Tr Co otfB.

115 110
29,796
13,160

lligMaylS

2 207

Highest

Lowest

Highest

Mayl6 112 Mayl2 106S8Jan 112HiMar
34 May 14
7gMayl2
"sApr
1 Mar
ll'8M»yl4

ll'4May

12»4Apr

Moyl2 207 Mayl2 207 Ma\ 207 »2 Apr

10c Mar 40c. Mar
600 15o.Mayl6 15c.MaylG
Foreign Exchange. - -The market was irregular and gener9 >a .\pr 11 Jan
9H>Mayl6
100
BHaMayie
May 1 May
1
ally lower this week, closing steady.
Gold arrivals from Diamond Match riffhts.. 110 1 Mayl7 1 Mayl7
5 .May 15'4Jan
Manhattan Beach
5 Mayl7
5 Mayl7
1,100
Europe, $16,027,000.
34 Jan 50 la Jan
100 42'uMayl2 42><)Mayl2
N Y Dock
To-day's (Friday's) nominal rates for sterling exchange
Preferred
135 80 MaylS 80 MaylS 78S2Jan 83 Jan
Feb
NY
92
were 4 83 for sixty-day and 4 86 4 86^ for sight.
To- OntarioN J Telephone... 150 140 Mayl4 143 Mayl8 140 May 155 >4 Jan
2i4Mayl5
May 4
Silver Mininic.
2'4Mayl5
day's (Friday's) actual rates for sterling exchange were St Jos Gr Island.lst pf 100 63 May 17 63 May 17
Muy 69^4 Jan
Jan 15>«Jan
420 1034Mayl7 ll»4.Mayl7
4 8210@4 8225 for long, 4 8520@4 8530
for short and Vnloan Detinnlng
60 Jan 67 Apr
Preferred
1,200 63 Mayl4 GlifMaylG
4 8570 4 8580 for cables.
Commercial on banks 48170@
4 8180 and documents for payment 4 81}4@A 823^, CotOutside Market. While a firm tone to prices has attended
ton for payment 4 813^@4 81%, cotton for acceptance
business on the "curb," the market has nevertheless been
4 8170@4 8180 and grain for payment 4 82 4 82 J^.
To-day's (Friday's) actual rates for Paris bankers' francs more or less irregular. Towards the close there was a decided
were 5 2Qy»@5 20a for long and 5 lS%a@5 18^id for short. contraction in the dealings, especially in the industrial secGermany bankers' marks were 94i^@94 5-16 for long, and tion, accompanied by considerable weakness. Mackay Com94^@94 13-16rf for short. Amsterdam bankers' guilders panies stocks have been the most prominent issues, the common stock on sales of about 44,000 shares moving up irreguwere 40/i@40a for short.
Exchange at Paris on London to-day, 25f. 18c,; week' larly from 68^/^, last Friday's close, to 733^. It closes at
72->^.
The preferred also experienced a rise from 733^ to
range 25f. IS^^c. high and 25f. 17c. low.
755^, reacting then to 73^-4 and ending the week at 74.
The week's range for exchange rates follows:
Standard Oil lost several points after the announcement of
-Long-Short-Cables
Sterling, Actual —
the dividend, the stock dropping from 610, the close last week,
High
4 8225
@ 4 8250
4 S550
((64 8610
®A 8565 14 8605
Low
4 82
Bethlehem Steel
@4 8225
4 8520
to 605, but later there was a rise to 618.
@.4 8580
@4 8530 14 8570
Paris Bankers' Francs —
common was strong, gaining a point to 28, but eased off to
High
5 20S
5 20a
(315 18^8
15 IH'Aa
Low
(215 20a
5 20Vs
The preferred sold at 90, a rise of 2 points. Inter15 18Ha
@5 IHHd
275^.
Gcnnany Jiankcrs' Marks —
national Salt advanced from 37)^ to 39J<i in the beginning
High
dii
94k
94 5-16
94 13-I6d&9i 1.3-16
Low
Unite(l CigaJ
(S 94K
of the week but dropped to 35 at tlie close.
(5*94 13-l()d|
94's
9i%
Amsterdam Bankers' Guilders —
Manufacturers' pi-cferred sold for the first time, fetching 97%
High...
40ft
(a 40a
Low
and 98. Chicago Subway made a steady gain from 55'4 the
39 15-16 @ 40
week's opening, to 59? 4 the final transaction to-day being at
Lew: a 1-16 of %
1-32 of %
h 3-32 of %
Plus:
l-l6of l'7o- jrl-32ofl%. y Z-Z2 of 1%
Unite(i Copper common exiiiliited strength and rose
585'^.
The following were the rates for domestic exchange on from 62 to 671.^, but reacted to 64 -'4
.-Vfter a rise of two
New York at the undermontioncd cities to-day: Savannah l^oints to 45, Tennessee Copper fell hack to 44. Greene Conbuying S50c. per $1,000 di.scount; ,'iflling, 7.5c. per $1,000 solidated Copper weakened from 29}^ to 28%, ending the
Brcmium. Charhvston I2}y^c. per .?1 ,000 i)r(Mnium. New week at 2S-'s. Boston (Consolidated Copper dropped from
26 14: to 241^2.
rlcaiis banks 50c. per $1,000 discount; commercial 75c. p
Delawar(> & Hudson 4% bonds, 50% paid,
$1,000 discount. Chicago, par. St, Louis, 35c. per $1,000 advanced on large transactions from 107}^ to 108j^
premium.
Qutside (luotations will be found on page 1145.

@

<fe

.

<fe

@

—

@

(Si

I

1

I

I

,

1

fc

.

rf

I

.

1

,

.

.

•

—

—

S

New York

May

Monday

May

li

1*

2

.

Weekly and Yearly
Stock Exchange-Stock Record. Daily,
i*A<;i;s
<K;t;iJi'ViN<i TWO

arOOKS-HlOJlhST AKD lowest balk
Halurdav

.

Tuesdau
May IS

J-ridav
IS

Thursdav

May

16

May

1

Sale*

EXCJllANUK

May

1?

Kaniie lor jTeviout
Hanye tor year J»'J')
<>'
Year (I'M i^t
[rtnoasts o' JUtJ-KhareloU'
the
Weeic
Hig/ient
Htuium
iMtoent
Sharri'

STOCKS
NEW YORK STOCK

J'SICJCB

I

KailroniU.
9C'6Janl3 77'>8Mn) 933HMar
nr>-H,Ua7
89i8
88
A tcU. TopekiirfcSiinla Fe 37,900 '.I'.t-H May 100 Jan 3 99 Jan 105"r'~*''P
J, 241
Do i)r<>r
Apr
1()2S2 A.
102"b2 10/'eJan20: 120 Jan 170
-.I'd 1/,/' '4 -May
.02 '4
5,
102
102
10'^ mice's 102
144 AtlanticCoasl Miie UK.. 11,970|M5'4 .Muy
141
117 Jiin27| LOOS; Jau 117 Aug
I'i3'iil4f.»-i
UliSi IIV^ liii-i 14 7
100 '4 107 'si L>altiinor(!& Oliio
Mar too Aug
91
10,':'6Hi7'«
[•'8 '4
.'09 92'-^ May 2 99SiJan 5
luS'ilO-i"^^ 107
93 -. Sj 1)0 prpf
lOS^B lU'.t
93
94
May 2 91't.Jan2'i' 50'gMav J. 1 % Not
»4
•;3ia i'5'-. •93 Hi 93
Brooklj-n UapidTranBil.. 219,9'JO 72 Jan 1- 87
*y:i>ii '.•5 \
82»8 84
Keb v; 81 Dee 91-% -MHy
feS^, 8t^
K3
84
82 '4 84'h
«*^s
81 \
83
Kutlalo <fc Sas(|ii(<, xirtl..
*«3
80
fl't ai-'t
•83
80
17734 Jan 19, l:iO>4 Jau I77'8^ep
•«3
80
IC'o.^.O 155'BMay
80
•x-.i
h(!
•«;<
•S3
so
Canadian I'licilic
15958 II'O
70% Jan 8 07 So" 74% Aug
lO't'islOii^ 1 00 14 100'.)
100 r>0'4 Miiy
]0ii3glGli* 100 Itil
ltiO'4 lOl^'j
/'anaila Southern
08
•u7
01'
2,0.'>' 201
May 231''2J.'iu-22ll90 M»> 235 OCl
07 Sj 'J^Si •07
09
•OG
•liSSj (19 S
t;y'4
•ti8
228 228 Central ot New Jersey..
0.- '4 Jan 2;
45SiMitV 150% Mar
224 228
215 223
218 222
15,3 lO 53'8 Api28
218'22Jl
•219 •iT:.
58='8 583, Chesapeake ife Oluo
59',
58^4
May ' 38'.iJanl5 30 Dec 44 '<2 Mar
58^8 59 '4
lOU 20
58 Vj 59 J4
»8
[,H^ 69-V
5 9 '4
Alton
08
30 CUicaf;o»V5
•25
Oct 83*4 Apr
30
80=8 Jan 12j 75
-25
30
M ny
801' 74
29 'b 29 .^ • 27
30
3U
•20
;u
Mar
1)0 prel
76S» 70S;
70 S) 70S!
17'-iMay 21 23% Jan -'O' 17SiMB> 25% f^ev
70',
76S2 77
17,10'
70-'«
77
7C^< 70=
19'-j Cliicaso Great Western..
77
19
80 -J Jan 17 8334 Ma> 89
19='4
lySj 20
20ij 83 '4 .May 17
20% 19 V 20 l8 19 Si 85
193« V!0'4
iy-'4
83 '8 83',
Uo 4 p. c. debenturcf
80 Jau 31; 00 J'ne 78% Sep
83-4 83 14
2110
*83'.i
•HS'* 8i.
•83»4 80
*><i\i (•il
-75
7»
Do 5 p. c. pref. "A".. 5,300| 743o.May 3 39% .Ian 22 29 Maj 37% Apr
7S
•70
78'.
3l%Miiy "75 '8 78^4 • 70
„,
77-\
32-',
•i5
Do 4 j). c. prof. "B"..
77'e 781
317,
35
34
May 2 193 Jan2i 108% Ma» 1h7 % Apr
a4S2 35'
30 '4
34
3i'8 3ii-'
'iA^-i Sl^j
Chicago JIilw. <fc St. Paul 102,4501155 '4
107 '4 IOS-^'b
108 170
lOO'sl'^'J'-l5o|l77''.jMay - 190 Jau2.;l 182 S) Jan i»2%Ai)r
lOaialCl
107 170
249 Jan
Do pref
n8o iHO
183181 181
3,970,19 J Api27 240 Jau 15 al'JOV^J'ue 205% Feb
'180 1«3'^ -l.-O
•ISO 18312 180
•201 Sj 205 CliicapTO & North Western
204 Sj 205
200'\203i4 203 »4 204
Apr27 270 Mar30 234 Jan 225 Jail
l^Ou 235
205 200
205 207
Do pref
Jau 15 150 Jau
239 23934
1 198
May
15'»ll71
175 180 {iso'-i 180 '4 Chic. St. P. Minu. <fe Oni.
188 '^ .Mar30 202 Jan 15 195 Jan 230 Jan
'Vfi" 180
>177 ISO
179 >5 179'-. '178" 180
•180 190
20 J'n*
Do pref
734 Jan
18% J an 19
180 190
>>* API 1
300
ISO 190 •180 190
«180 190
180 190
Chicago Term'l Transfer.
11^ n't
12Si
'11
12S! •11
27 Apr27 42 '4 Jan22i 17% Jau 42 % J'ly
12
ni 12 "5 •11 12H -11
13 "'6 Keb
•27
30
Do pref
J'u(
•27
30
30
>luyli 1334 Feb 20
•2/
4
8,0OL'
•27
30
>27
30
•27
30
Union Traction.
Ai Feb
414
4
3034 J'ly
4=8
4U 4»8 I3I4 434 13 Sj 13 Si Chicago pref
i
20,401' ri-'igMayll 46% Feb 21
4'8
4
4'b
Do
S.
13Si
90 '4 Muy 2 10976 Jan 15; 90 Jau 1 1 1 iMSUC
lis '2
12^4
V^Og 13%
1,084
17
13
1213« Mar
12-H, 14
98 Cleve. Cin. Clue. & St. D.
98
9S3b *S)7
98
112 Mayli 118 Jan 23: 115% J'ly
98a8 98
97'8 y^'t •07
981.
97
Do pref
112 118
112 118 '112 118
29% Jau 4 37 Jan 24 22 '4 Jau 30% Apr
5',.50U
•112 118
112 lis
•100 118
09 7^ Deo
33 S2 333^ Colorado* Soatliern
33 '4 34
b2'4 34
590 06% Apr 30 73 Feb 9 52 May 55 Dec
32^4 32'j
3334 337g
33»4 34
*70
71
Do l8t preferred
56 '4 Jan 12 32 % May
70
70
70 Si
• 09 Si
1,500 43 May 2
70S •09 S2
70
70
70
70
24034 OcS
•47 Si 49
Do 2d preferred
49
48
47 Sj 47 7,
May 2 229% Jan 18 178% ,Ma>
- .-.il^'*
*47S! 48
4734 47
4734 47
210 211
Delaware & Huason ... 12,100 43734 May 2 530 Muyl7| ;J35 Jau 198 % Oct
20934 214
208 210
;V,700
208 209 "i 207 12 208
209 \ 210
393, Dee
ela-w. Lack. <fc West'n
500 525
500 530
485 600
7,300 30 -8 May 2 5176 Jan 20 27% May 91% Deo
480 485
478 '180
*472 480
43% 43 S. 42 Si 43'. Denver <fe Kio Grande
42 Sj 43
300 8478May 2 91 % Jan 2- 83 % May 96% Dec
i-i'>6 433<
4 2''8 44
42^8 44
Do pref
87 "s
88
•H7
'80'8 88
200 90 '4 Apr 30 102 Feb 9 70% Jan 2234 Not
•87
88
87
'80
88',
87
Detroit Dnited
•94^4 90^4 •9434 90 '4 '93SJ 90
•^0
95
426 10% May 2 22 78 Jan 11 1134 May 4034 Nov
90
90
90 »4 yoij
lO"., Daluth So. Snore <Si Atl.
•18
19 S 18
•18
32 Apr28 45 Jan 11; 21 May
18Sj 181.: •37I4 1934
" 50
19
I912
•17 Si 19'-.;
•37
39 S,
Do prel
37% May 52^4 Aug
7g Jan 10
40
•37
3y
39 14
94",245 38% May
•37
39
•37 "-i 39I4 •37
43 Si 44
7478.Ma> 85%. Aug
43=8 41».
43 S2
43
42 12 436,
5.0jO 75 May 21 83 Jau 15
43
43
42 7e 43S
78'4 7834 til Do Istpret
78 -v 79'<
77a<
78'4 78'.
02%Apr27 7038 Jan 10; 55% Jan 783b Aug
2,S0u
77^8
78=8
78 "u 78'-j
08^8 09 '4
Do 2d pref
093.
•08
75 Jan 8 70 Jau 2 03 J'ly 75 Aug
09S2 70
08^ 09 »t b7:'4 08
09
09
•72
VB
Evansv. & Terre Haute
85 Nov 96 Aug
*72
70
•72
70
88 l<-eb Ol »8 i.\..u
•72
ve
•72
70
•72
70
•85
95
Do pref
348 Feb 9 236 Jan J35 Apr
95
95
85
85
95
17,85 275 May
*S5
*85
•86
yj
95
302 303 '2 Great Northern, pret...
30278 305
80 Mayl.; 92%Jan2Z] 83 Feb 90 Jan
300 Si 304
2JOSJ304
30314 300 4i| 303 300
J'ne
Green Bay<fcW.,d6b. ctf.A
17 ilay 2 23.-^ Jan 19; 17 Ma> 24%
1
80
80
38%l>eo
deb. ctf. B
Do
500 33% Jau 19 51 Mayli| 15 Apr 82 Deo
19^4 19'^4
Electric.
•41
49
J'ne
Havana
4976 497,
51
77% Jan 15 0734 May 8 60
51
SO"* 51
•60
51
51
53
•90
95
Do prof.
'
Vio Apr24; 86 =8 Jau 121% Dec
»90
95
•91
95
'406 113%Feb
*90
95
"80
•85
95
95
97-4 Not
Hocking Valley ...
90
120 129 •120 130
*120 129
500 93 May 2 93%AprlO! 15-.: Jan 183 Sep
125 128
13l»
•11214 11.8
120
9i>%
Do prel
95
Jan
•95% 90 Si
•95 '4 9'J
104 .M,iv 2 182 Jam 2'
2,';t;>
90
90Si
95"8 '-i^h
«y5
90
5 38 May 10
171% LUinois Central...
171%
\pr27 i>
I72S2I73I4 I7IS2 172^4 • 172 173% 172% 173
I72I4I74
51% 62 '4 nter-Metro;}oatan (w i) 4:'.,3:>'; 8034 .uav 3 8738MaylO
5138 531.
5338 5334
5334 Sl^s
53S2 541*
53'e 54^.1
80
to
Do pref {-svlieu is.sued) 8,1 00 2434 May 2 34 '4 J an 12 24 May 32 Feb
85
0% 85
80
803.
1,101
80
80^4
80^4 87
iiii\
61 Deo
27% 27% Iowa central
27% 273.
20^4 27%
300 4t) May 4 6334 Jan 13 50 May 5534 Deo
2034 2034
27^4 •-7^4
27 Sj 27=8
Do pret
52% 52 '4
75 JNlaylJj 29 % May
7
•51% 52'-.
62
52
52
63
53
•51Si 5 2 Si •oISj 52S.
07
07
Kana-wha& Jlichigan.. 2,15 8O34 Apr 24 84 % Feb 7 81-''e J'ne 87 Oct
08
00% 00 S2 •80
0!i
75
10
07
*03
00
05
00
C.Ft.S.ifcM.,tr. cts. pit'
81%
22 % -May 36% Deo
81 S,
81% *80
81% *sO
1,300 23SiJiuy 2 3736 Jan 5
•80
ai^ •80
81
81
2478 25=8 Kansas City Southern ...
7i Jan 5 52 Jan 70 Feb
•25=8 20%
20
.iiiiy 2
20
2tjl2
2534 20
1,100 50
•24
25S2 20
47 % Dec
•52-% 53 S
Do pief
6238 54
32 ilav 2 447gjaul2' 28% .I'll
52J4
52
52
52
5234 53S2
54
54
-34
38
J'uc lOo ^War
»34
38
Lake Erie cfc Western...
•34
39
50 J--4 Mayi5 i9- % -Jau -U| 91 May 7378 Nov
'30
•35
39
39
38Sj •30
95
Do pref
*S4
95
67 's Jau 4 8l3,janlb 50%
*84
•84
95
84
•84
1,28
•85
97 S, '^84
88
•72
74
Long Island
72
72
72
13J'4May 2li'0%Janl9; clS4% Jan 15738 ^ep
72
72ia 72S.
•71
7 2 '4 7 2 Si
73
Nashville... 21,010
May 175 Feb
144 145% 144% 14038 144 144% Louisville & Elevated...
400 i47'4May 2 102 Jan20 101 Nov 91 Mar
145'4l46i4 141'6l40
143 145
153 154% '153 154 Manhattan
65 Feb2t 75% Jan 151 08=8
154 154
154 154
•152 154
154 154
etrop. Secur., sub. rec
4,306 70%May 2 V5%Mayll] 114'" May 133 "" Aug
*74Si 76% Certificates of deposit..
•74% 75
105% May 3 127 Jau 16:
74=8 75
74=8 75',
7476 75
75^4 75'4
Metropolitan Street
'834 Apr 4'
i.75o 104%.Muy 31
115% 116%
113 118
Certificates ot deposit..
18%Ma> 20 Mar
113% 114
114
115 115% 114
30,250 18 'e May 2 20-8 J an 19
116 115'4 115% 115% 115 110
2234 23% Mexican Central
2 3 '4
140 Mario 149 Feb 20 130 J'ne 155 Aug.
2278 23%
23
2238 233»
"4
23=,
2134 23 S.
23
145 Michigan Central
145
09 May 8 84 '4 Jan 11: 56 % Jau 8434 Oct
14.T
143
i^3o6
•141 145
•Ill 145
100 Oct
71% 71^4 Minneapolis <fe St. Louis.
72
72% 72% 72
200 90 Apr 27 100 '4 Jan 3 86 Jan 145 De«
7234 73
72
73
73
72S!
Do pref
89 % Jan
•90
95
*90
08
96
1,500 141%Jan 4 104 Mar24|
*90 100
04% 94% *90
94
94
Minn. S. P. <fc S. S. Mane
Jau 173 Deo
156 158
2,7oU 104 May 2 L8334janll 148 Mtt\ 39% Not
150 150 Si 150% 15?% 15734 158
157 157
157 157
Do pref
12 24
173% 17434
23,200 29 May 2 40% Jan
•170 173
172% 172% 171 171% 17234 17434 174% 175
Aug
'4 'b Jau 18! 56% May 73
34 % ilo. Kansas & Texas
34
3379 35
3338 337^
2,900 04% .4pr27
33% 33
33-^ 34
33
34%
Do prel
94% May 11076 Mar
8.1 % May 2 10034 Jan 20|
68% 08%
0834 69%
08 Si 08=8
08 '4
23,700
08
08
68%
08 Sj OS'i
Pacific
158 Apr
Jan
93I4 943.
200 133 .May 3 149% Jau 12, 137 May 45 Jan
94% 9334 94=b 9439 95% 93=8 94% Missouri
9314 943i
93
Vfash. Chatt. & St. Loui.-41 Marl4| 33%
138 142
140
139 139
«136
'135 140
1,100 30 Apr27
•135 140 •135 140
at.ol Mex, non-cum.pl
1734 J'ne 24% Jaji
39
39% -38% 39% '*38
39
100 19=8 xMar 2 2134Feb24 13034 May 10734 Mar
39
39
39*4 39%
39'4 Adh:
Do 2d prel
2l''b'4jan 8]
•20% 21
•20
21
2934 203,
*19% 21
*20
21
•19 Si 2I
Hudson. 31,015 130 -i May 5 73% Apr 17 42 Jan 70% Deo
13934 140=8 N. Y. Central &
5,300 ijii Mai
142
140% 142% 139% 141% 14934 141'- 141 142
141
07% OS N. Y. Ohio. <fe St. Louis. .
111 April 120.8Jau27 114 J'ly 122% Jan
69 Si
0834 09%
68
t)9
08
Ob
70% 07
703t,
May 95 Deo
Do 1st pref
0134
9
'115
118
tll4 118
•114 118
•113 118
800 80 May 3 -20476 Jau 19 74 Dec {216 Sep
•114 110 •114 119
Do 2d pref
jau
H9134
87
80% •85
85
85
b6
•83
87
183 194'4 Alay 2
*84
87
88
87
Mar
04
N. Haven & Hartt.
4038 Jan
N Y.
"7 '4 J an 2
•190 197 S< •190 197% U9e% 197% 196 197% ny534 195^'i 19738 1973g n! Y. Ontario & Western 2G,'I20 4334 May 2 9JSiFeb 1 70 Ma\ 88% Mar
Feb2^
50% 51% 5078 51% 60% 507, Norfolk & Western
51"^
49% 51.
33,2 iO 81
4938 4934
50
96 Aug
91% Feb
8936 897
90^4
90% 90
100 89% Apr 12 y<' Jiiii,^
89% 90 Si 90
8878 aO'f,
883* 8918
Do adjustment pret. 44,001 179% May 2'232S2Febl4 105 Apr 216% Aug
•90
93
91 92
•90
92
•91
92
91
91
109%
Northern Pacific
Jau 10 1*0 Mayll 78% Jan 108 Oct
203 208 Si 206 208% 207 208% 20538 207
2,6 JO L03
207 209 S. 207%210
Feb
Coast Co
135%137 Pacific Istpref
105 Jan 5 100 Jan29 100 Jan
'137 138
135 137% 13778 139
138 138
137 13S
Do
•100 108
'100 108
105%JanlO l'*2 May 8 85 Jan 109 Oct
100 108
100 108
•100 108 •100 108
Do 2d pret
•128 1:H4
4 147 % Jan 2 1 131% May 148 Aug
'130 134
130 135
130 138
196,650 J!l32 Muv
•130 135 •130 1^4
Pennsylvania
Jan 4834 Apr
13434 135=8 133%1353t, 132 133%
loo 33 Apr28 40^1 Jan 15 27 Muy I8734 Mar
13534 130 Si 131=8 135 't 134% 135',
Peoria & Eastern
39
•34
37
May 2 »7 Jan 24 70 Feb 112 Mar
•31
40
37
•200 75
40
•37
-ao
40
35
40
Cin. Chic. & St. L.
Pittsb.
80
80
loO May 4l'J°%Jan2-i 105
•70
81
80% 80% 80% 80%
Da prel
23 j;79 Jau 14334 Not
102 108%
• 102
768,550 112 May 2.C104 Jan
H,8Sj
Oeadlng
90 May, 97 Sep
"13934'
128% 13038 130% 132% 131% 132-., IXlstpret
300 89% Mar 1 ^^^ Jau ^0 84 Jau 101 Not
iW-l
130'4l3i'6 129 132
02^2
102 Jau
90
90 Apr3U
92% 92
92%
•91
•91
9i
U2% 92% 91
92
pref
2d
2 2134 Dec 3778 Jan
•92% 94
•93
94
•92
94
•92
*j2
94
•93
8,300 2338 Jau 3 '-Ja'sApr
95
94
60 % Not 85 Jan
20% 2534 20 Bock Island Company...
26 %|
20
20
2538 20
2,500 01% Jan 4 08=8Mar3i
26 14 203^
2578 203fc
Mar
pref
Do
00 Keb20 723^ Apr 3 o7 Dec 81% Mar
6i% 04%' 64% 0l7e •63% 64=K St. L.<feS.Pr., 1st pref...,
0334 05
•03 S; 00
04
04
61% Fob Ol 45 Dec 73%
•66
7L
71
•60
•66
71
•00
71
1,800 41 May 2 27
•04
•00
09
71
27% Jan
2d pref
45i<
Do
20 May
-s Jan 19,
45% 40=4 45
40
1,.700 20% May 2
45% 45% •45
45 Si 47
45% 45'.
ol JanlOj 55 Nov 66=8 Apr
22% 22% St. Louis Southwestern.
22% 22% •21 34 23
23 'i
22
1,000 4S34May 2
22
22
23
23
72% Feb
Do pref........
56'«
•65
50
01 May 2 7278 Jan 2^1 5734 ,"^ay 122% Deo
55% 55% 56
55
30,100
53%
54% 55
65 Sj 50',
04% 05% Southern Paciuc Co
Feb 28 110 Maylol 11534 Jau 38 Sep
l,49r UY
05
06% 65% 00% 6534 06
05 'e 00
053.
003,
pref
Do
28 May
119 119
119 119
23,400 35 May 2 4.!76Jau2b 95 Apr 102% Sep
*118'4ll>*'-118% 118% 118% 118% 118% 119
37% 377, Southernv.tr. cts. stmpeu
3778 38%
3734 38
935 9734 May 2 103 Jan lb 29 Apr 41 Mar
3738 38
38 S
38
37% 383;
do
Do pref.
'4
•9934100',
100 100
•9934 100
28 May 2 393(,Jan24
yyv,
9978 100
99^8
9934 99-'4
32% I'Vexas & Pacific Y.)... 13,100 125 Apr27 rl39H Jau iv I2O Dec 141 Deo
82
327,
32
3238 32'%
33 '<
3138 32'.
32
32Sj 33
22 '4 Jan 37% Apr
.1
hud Avenue (N.
"130 135 •127 135
29%Apr23l 30 Jau
»130 135
1,100
130 135
•130 135
128 136
Toledo Kail ways & Light
34% May 43% Apr
32% 33% 33% 33% •32% 33% Tol. St. L. & W. V. tr. ctfs
1,500 30 Muy 3 40% Jau 19 513, Jan 05
3138 32'.
-3034 dl\
31
31
Apr
31% 31%
May 2| 5978 Jau 19
31% 313,
31
31
30% 31'.
33 '4 33 '<
33
33
Do pref. vot. tr. ctts.l 1,0110 48
50%
50% 60%] 50%
50% 51% 5934 50
521,
5934 62'.
52
89

88^6

8'.>»s

89»j

SSifl

89

88S)

S93t

102 1, 102>
145 S;
145

'-i

88 \ 90

>.

I

102»8 102 '4
I4OI4
145
107 '4 107 "4
•93
95

,

I

'

I

1

I

—

'

•

•

"li

t-

1

1

>-

Mm

•

>•

I

'

•

—

";iIT7l7;rAND
Mid

iianUs

ASi^

NEW rOEK
Aetna
American

..

Bid

UaiiUa
Chemical

4100 4250

Citizens' Ctrl 133

205
515

215
y.w

Amer Exch.

t25-i% t25«

Astor
Battery Parli
Boweryll
Batch's & Di
Century 11

050

Chase

700

Chatliaiu

.100

320
175
175

750
135
335
185
185

.ho

'p

ASIC

202%
City
Coal <fc Iron. 200
Colonial I1 ... 000
Columbia .. 420
Commerce... tl84
160

iis'i'4

i;o
160

Bid

Uanks

ASIC
I

340

5V6" 540
200

Joflersonll..

1216

380

Garheld

iOO
!55"' 165
110

German Ami
German l^x'
Gormaniall
(ireeuwich
Hamilton*!,

—

..

100

295

..

100

305
295
1270
i85
275
Mocliauics'
Mech & Tra" L05 175
;55
215
.Mercantile ..
.M.trket<fcFui
.

300

.Mercli lixoli
.MeroliauiH'.

ilO

Hanover

170
105

180
175

Ask
100
180
i40

Melropoli'nii
Mt Morrisll..
Mutualll
Nassauli

240 250
205
500 520
1500 1700

—

Bid

Metropolis H.
3

Mauliattauli

."jOO

\.

Liberty
Lincoln

't

Banks

600

155

Interboroll.
Irving

760

ASH

575

mo & Trad

1st N't&Day
14tliStreet:i.

Gallatin

267%

C'ruExchge^ 355
Uiscountll ... 150
ICasi Kiver.. 150
200
fidelity^
L<'ifth Aveli.. ,i800

Bid

iiaiiks
Fifth
First

Fourth

137

I1

Consolidated

TRUST CXwInIES-BROKERS' QUOTATIONS

170
225
300
212
202
Amstet 400 125
YorKCc 1200

New
Now
N Y Nat Ex
New York..

205
315

19th Ward'i
North Anier
Northern...

i50
2i5

Orientals..

JOO

1

50

;l6
i20
100
'.\)o

lOO
;70

,

240

Park
1
People' sli
1

—

I

Asit

250

%90
300
175

185

Plazali
1

570

Prod Exchli
1

170

600
180
280

Pheuix
i

250
365
700
1700 206
Stat ell
Street. 205
34tb
...
12th Ward",, 350
23d WardV. IHO
Kiversideli

Seaboard
Second

t500
1200
ISO
Chelsea Km'
+ Fv i-isrlitH
a Ex-dividoud and rights.
..„
"i Stito banks,
4 Less than 100 shares, ^t^^/.^'^tnt paill
n Sold at private sale at tUi» »nce.
prices; no sales were madeou thi.-* ''«:> '^^^^'^ certiUcates.
Urn A no asked
Trust Co.
this week.
4
,a Slock Exchange or at auction
,

Bid

Banks
PacittcH
I

.

...

b

New stock.

MAY

PRICES
iTOOSa-HIGHEST AND LOWEST SALE
May

May

i3

14:

iia
xb'6"

y

08

17

"ii"
46

17%

37 '8
IT '4
40^8

47
38

'2138

Sj

40
«24>a

17

46U 47

17

*40

41

24

14

40 'b

24

•2519

•25

264)

\

•25

51

51

245

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"'20%'

•17
•391^
•23Hj
261s
•SOHj

25>i2

51

171,

ii"
40 >4
40 4,
18
40
24

40
25
253t

51 H/

•17
•39
•23
2538
•60 Ha

May

2 122 '4

Highest

Lowest

Jan 22 105

Jan 122

Apr

Hz

pret

-

46

40

'4

Kanye for Freviovs
¥ear(iy05)

Highest

Lowest

3,140 109

i

lotb\

?l'>334May 160 J'ne
15134 Deo
sioisno ISSHJMnjr' ioO'^ Jan '24 113 Jan
Paoilic
Union
99i4Jau 2 9 5 Hi Nov 101% Feb
700 91''2May
92 % Deo
Do pref.
2,81b 50 Apr2U 98 Jaa 18 211-2 Jan 94HjDeo
UnitRyslnv'tolSanFran
64%Jan
1,950 55 Apr 20 93 Hi Jau 17
Do pref
84%Aprl9 87 H; Jan 13 80 J'ly 85 Nov
United Rys of St Lou. prel
17% May 24% Sep
3,55ii
19 Apr 28 26% Jan 24
48 Feb
abash.
6,00C
40% J an 3 53% Feb 27 37 .M
Do pref.
27 Nov 30 Deo
32 Jan 3 42 Jan 29
'2,901
Maryland
Western
15 >Ia> 1934 Mar
301)
16 Apr 28 2134 Feb
WTieellngA Lake Kilo..
48% Feb 6 36 May 48 Feb
iMay
l.O'JOl 30
Do Istpref
20 Maj 28 Hi Mar
10(1
22 Apr 27 29 Hi Feb
Do 2dj>ref
33 Jan 17 20 Apr 33% Aug
23 May
2, 2011
Central
Oct
Wiscon sin
400 44% Apr 28 64 Jan 15 46 Jan 64%
--

Do

>20Hj

•20'i

47
46
39 Tg 40

39 "4
18
41
25

39 14
>17
•39
•23
25 Vj
•50 Hi

40
18

•ASH

•25

'.ib

'iT^,

'2CH.'

'ii

46

20 "n

56BV1
'21'" "ii
46^4 46^4

Shares

Twm City Rapid Transit.

148'^ 14934
95
95
63
03
6914
69

95
63 H,
00 >*

95
63
68

Year lyon

lor

Week

BXOHANGK

llOH-

116

96
61

95
61

6
68»a 6915

OlHi
69

61
68

6L

95

NEW YORK STOCK

18

11738 117»i

in^giis

117Hi

95
*59

isIh iis'^ 151 S.
(!'.)434

May

149^4 isT'i

117

iltfHi

Kanye

Sales ol
Oi\ basis ollOU-shart
the

STCICKS
Friday

Thursday
May 17

Monday

Baturdav

1139

Stock Record—Concluded— Page 2

19 1906.1

253f

51 H-

W

•!

Do

pref
ladusti-ial Ac iHiscell

Feb 28 250 Mar 6 5236 Jan }250 Feb
May 2 27% Jan 24 13 May 2414 Deo
2II4 2134 r\. Uis-Chalmers
2114 21",
May 3 67 JaWi4 46% May 68 Feb
a'4 21^4
20=58 ^"'b
B«c
5534 56 Hi
Do pref
56~-<
56 H>
825,7U 96 May 4 118^4 Febl3 70 Jan 11134
5534 653, i56Hi 65Si
...
AmalgamatedCopper.
11138 10913110
34 's Jan 27 20 Jan] 29%.\pr
21% May
1,101
107 "4 109^4 10834 UO'e no
2638 26't Amer Agricult Chemical
26^4 20',
Jan 25 89% Feb 95 Aug
93 Apr 23 102
26M *26'q 26
26
Do pref
23 Nov 35 Deo
•94H2
•94 Hj
-Jan
•94 Hj
10,'iOO 20%Mav 2 35
•94
26'4 27
Amer Beet Sugar
77 Jan 89 Deo
28
27
28 s,
26
300 85 Jail 22 89% J an
23 Hj 23
24'2 24=»
•26 Hi i25'-.
43%
Do pref
87Hi
80 H
86
34% May 2 47 Jan 24 31 May 104% Apr
24,151
86
8(>
Apr
**jl
4034 4 1 "4 .^.merican Car <fe B"oandry
< 42
24 j;91%Jan
4134
41
41*2
99% Jan 4 105 Jan
1,1 OG
40^4 41°x "4034 42
40%DeO
10134 1013^
40Hj 41^4
Do pref
1 02
10234 102 "4 102 H. 102
3,800 28 May 2 44%.Tan 11 2734 J'ly 97
102^4 ^^'^\ 10234
F»b
• lo^z^s loa
321* American Cotton OU
32
32 14 32 H2
95 Jan 10 89% J'ly
32
32
92 Mai ]
101
31 la 32^4
32
a2
3'234 aa
90 93
Do oraf
•90
93
Apr20 249 Hi Jan 26 ^209% Jau 246 Feb
131 2i5
93 H) 93 Hi •93Hj 94'4
• y^
Jaa.
92 H,
•220 230
American Express
434 Aug 14
234
1134 Jan 15
220
220 235
7% May
3,700
220 235 5225 230
*2'20
236
-9
9^.
95^ American Grass Twine ..
6 J'ne llSjDeO,
93
9
834
83,
6 Hi Apr27 10 Jan 20
2,500
9
8H,
"8Hj
«
*84j
6J4
7
Amer Hide & Leather....
7
29% Oct ,,
0',
25
634
7
7
5,075 28 May 2 43 Jan
6\ 7
7
36 Dec
7
•2434 J'ly
Do pref
33Hj 34
34\
34
33 Hi 3334
10,270 35% Jan 2 65%MaylO
33^4 34
331a 34
as--,
sa
6278 03 14 American Ice Securities.
64 14
15% Jan 23 Deo
03 Hj 04'-.
29% Jan
61
630 17% May
6318 643(,
64'8 64^6
64*6
61
21 American Lmseed
2014 20'-, •19
20
53% Jan 20 36 Jan 48% Apr
20
20
100 38 '8 May
20^4 •18
•19
19»4 19
•40
42
Do pref
41
42
41
53>4May 2 78 Hi Jan 4 33 Jan 76% Deo
40 'b •38
42
*38
40
•67 Hj 67^4
70 H:
08% 69 'e American ijocomotive... 85,085 110 May 2 120%Janl6l l0334Jan 1223, Apr
68
67 U 68 H.
68 '4
800
68^4
6<6\.
67
5 % No-r
b6'8 67 V
Do pref
Dec
5
114HJ 11434 115 115
-114 115
4% .vlay 2 6 "8 Apr 6
20b
114 114'-. lL4i-ill4'ii 114 115
434
5
.4.mer. Malt. ctfs. of dep...
.434
5
25 Jan 8 29% Apr 5 2434 Dec 26 Not
53t
1,201
4^4 6
434
4-'4
434
28I4 28128
Do pref. ctfs. of dep..
28
2»»8 28
2838
1,500 34% May 3 5434 Apr lb
28
28'a 'i>i'% •28 '4 '-JaH,
*38
40 Amer Pneumatic Service
40Hj 41
79 Apr30 88% Apr 12
40Hj 40H!
50'.
43
44
44
42
44 H)
44
•77
80
Do prof
81
97% Sep 102 Nov
81
•77
80
81
401 e99%Fe0 2l 101-4 J an 18
80ifJ SI
81
80^2 80 >i
•99 100 14 100»8 l-U^'^e 100% 100% Amer Smelters Sec pref B 339,251 138 Hi May
174 Jan 18 7934 Jan 170% Deo
•99 101
•a9 lol
•99 101
15518 156% Amer. Smelt' g<fe Uefln'g.
Jan 137 Deo
155'8l57
8,300 115 Apr2S 130 Jan 12 111%
154 157 's 156 167 H 120 1'20
153''8l55K, 164>^4l67
119% 119 Hi
Oo pret
May« 3 220 Jan 25 163 May 250 Nov
120^4 11934 122
.iu5
11858 118
118-4 119'-, 118
Deo
'200 300
American Snuff
200 300
t200 214
102% May 3 107 Jan-.; 6 99 Jan 110 Mar
200 215
200 240
*200 240
'103 105
Do pref
17
6% J'ly 18%
103 105
15%
,103 105
10
103 105
103 105
•100 105
10% III4 American Steel Foundr's 1,801. 40 Apr 30 53% Jan 17 35% J'ne 67 % Apr
11^1
1034 11
Jan
May 2
200
11^4
lli« im> -11
11
11^8 11^
"44
45
• 44
Do pref
45
• 44Hj
45
157 Jan 8 L30 May 154% De«
45
55,900 127% May
45
44'3 45
44H2 44 H<
141 Aug
13618 138\ 135 136 H; American Sugar Jlolining
135 3b 13^34l34H< 134^4 138
300 132 '4 Apr 30 140 Jan 19 133 May 148% Jaa
133 Ha
134^4 135
•133 138
Do pref
133 138
137 137
135 Apr28 144% Jan 19 131 Dec 109%Deo
134 Hj 1^5
•133 137
U5 138
»133 140 Amer. Teleph. & Teleg...
Jan 22 91%Jan
133 140 133 140
137
i",i'oX 100% May 2 109
'135
135 137
*l36 137
20% Jan 47% Nov
103 Hi 103Hjl03Hi IO314IO3I4 Amer. Tobao. (new), prel.
3334 May 2 48 Jan
3,951
102^4 102^4 103SlU3h. 10318 103-4 103 Hj 38 14
108%
38i8
3/% 37% American Woolen
38
383t
Jan 3 110% Jan 21 93 Jan 295 Mar
37I4 ^8
38^4
20(^ 103
^4
38
39
39
Deo
•100 107=1
Do pref
'106 107
107
Feb l;j 100% May
i 300
459,700 223% May
106 106
auo 1»J7 lOu 275
100 106
2:215 Feb
268 271% .Anaconda Copper
•ii7134 2753
260
119 Apr 27 178 Jan zH 175 Dec 22 Deo
267 270 Si 209 Hi 270^4 •261 274
•123 133
Ha
Brooklyn Union G-as..
10% Jan
"'700 14%Mar20 2134 Apr Ii
130
122
ISO
'121 130
•121
"121 135
60 Jan
runsw. Dock <fc C. Imp'
17Hj 17Hi
1734 1734 •irHi 19
40 Apr 10 70 JSlay 9 50 Dec 47 % Oct
601
19
1818 i^^J
19
19^ 19
•00
%
Butterick Co.
67
60
00
03
49% Jan 24 40 Sep
63
5,700 38% .May
•63
67 Hj 07 Hi a;67Ha t>?'-69^
105% Nov
Leather ....
42
4'2%
Nov
42% 42',
42 Hi 42 Hi
Ccentral pref
300 100 4 Apr 28 107%. an 24 102% May 59 Mar
4134 42
42^4 ^^"i
42^4 43 If
/ Do
lOlHj 104 H. 103% 100
105
83% Jan 20 38
10434
40% .May 2
5(>,80l..
luO •104 lUa
'103
•104'al05
Mar
105
50% 513, 4934 50^^ Colorado Ifuel •& iron
5018 51
95 Jan 15 112%Jau--'9 80 Aug 20 Deo
49''8 52Hi
4918 51
51^8 52 '8
Do pref
•90 110 100 110
26 Hi Jan 31 1134 May
•90 110
•90 110
2,400 17 May
•95 110
•95 liO
214 Mar
Coal & Iron.
19% 20 OoL <& Hock.
Not
'20% 21
I8I34 J an 23 175
2OI4 20^1
20
10,38-. 130% Apr'
1959 20H,
20
20^4 20->.
13734 139% 138 1394. Consolidated Gas (N. Y.). 11,!07 21%.vlay ~ 28 Apr 4
13534 13538 139
135^4 136'^ 135
136'b 135
23% 24 Corn Products Refg
23 14 23%
85*4 Apr 2
231, 233b
74 Hi May
2339
23 Si
2,367
23
23
23'* 23-'i:l
Do pref
£34. Jan 54% Deo
79% 791* 79% 81%
79
79
51 Jan 30 05% May
•78 "4 79
78Hj 78
78Hj 78'-,
64% 0134 63 Distillers Securlt's Corp. 32,14s 8I34 Jan 3 87% Jan 19 76 May 89% Feb
63
6IH1 04
62J4 V)A\
•J2'
60
03^3 64
80
Klectrlo Storage Battery.
'— ..» 80
199 J an 22 60 Jan 145 Nov
86
"400 138 Jan 4
«t5
86
»
86
10934 10934 Federal Mining* Smelt'g
75 Jan 110% Nov
'105 169
112% Jan
IbJ^ »160 170
4,500 92% May
169^4 169^4 169^2 109^1 165
98 Hi
Do pref
99I4 993b
181 '4 J an 9 109 May 192 Mar
99% 'O'^^J- 98
99 'i
3,050 161% May
98
99 100\
99^4 100
16834 10334 General Electric
26 '4 Jau 15 18%J'ne 25% Deo
16834 108
10734108^4 IO634I68H; 168 109
3,500 18 May
I6734 168
19
19 Hi Lnternational Paper..
'20
19% 20
Mario 90 Jan 13 76% Feb 88% Leo
20
300 82%.
20 14
19
20
19 Hj ly^'^ -19
•85
Do pref
87
Oct 100 Feb
87
8O34 8034 •85
86
40U 50 Apr 30 j;95 Jan 29] 48 Dec 40% Feb
S6
•85
86 »a 86-4 •85
International Power..
58
62
26
•50
68
61
61
60
•52
60 70
12,600 28 J an 15 00 May
•53
59
6'2
52% Interuat Steam Pump.
54
92 Mayl4! 78'i2May 88-% .\pr
52
5334 65
5434 60
6,300 79 Jan 11
57
58-«t
55Hl 53
Do prel
68 Jan 15 10 Jan 60 De«
90% 91
91
90
59 Mar
91*4
92
90
OIH.
91
»0
04% 641s Knickerbocker lce( Chicj 5,000 62 May 2 71% Feb
52 Aug 69 % Deo
64H.
61
63^8 0418
641*.
O4I8 64 H.
63 '8
2,500
044 65
Aug 12034 Mar
03
63'4 National Biscuit
64
63% 63 H!
IX'S'^JSin 5 118% Feb 10 UO
64 H>
04^
03Hj 63 Hi
31% Apr
Do pref
•114 115'4
-11314 115^4 •113'4ll5
12 -May - 18 Hi Jan 16 11 Aug 94 Apr
"400
«117 118 •115-4 117 H 115 117
Nat Enamelmg&Stamp'g
»l
13% 13 Hi
80 Aug
IS-a l"*'^ 5i3hj 14
85 Marl7 88 Hi Mar
13^8 13
•1334 14"4 •13^4 14-4
Do prel
•83
87
*33Hi 87
95 "8 Jan 19 24% Jan 89 Hi Deo
87
May
•S3
87
87
-83
•83
67,050 60
87
83
7534 77% National Lead
100% Jau 2. 97% Jau 115 Hi Deo
80% Sl-'^ 70% 81% •103
7914 S2
2,350 101%.May 3
81
80
a034 82 Hj
Do pref
i03Hi
Jan 5 140 May I6834 Nov
103 103
102 Hj lO'i
103 103
1,700 135 May 2 IO334
103 103
103 103
Apr
York Air Brake
14634 146% 146% 146% New
107 Jan 12 95% Nov 107
4,200 93 May 2
147 14736 147 Hi 14734 145 14034 146^4l4^''4
96% 90 14 North American Co., new
97
61% Janl9 33 May 5334 Deo
97
97
9634
96-4
98
9734 98
X'dii
6,400 34 May
97
115% Apr
Mail
38I4
401,
40
2 97% May
40 Hi Paciilc
39
33
3734 38'b
3814 39
900 89Hj Apr2» 103 Jan
JNlay
381a 39
eop. Gas-L-cfe C. (Chic,
923,
92
92
92
13% May 2 17%Mar31 12% J'ly 2 1 May
•91Hj 92'<i
92
301
93
92
•91H» 93
933b
80%
11
14 PittsDurgh Coal Co
54 Mario 02% Jan 19 45% J'ly 5834 Deo
14Hi •13Hj 14 Hi •13% 14%
14 14 14 H. 14
16
*13H» 14 Hi
Do pref
•54
• 54
57
67
64% J an 24 33 Hi Jan 101 Oct
67
•54
57
•54
-64
67
•54
7,950 43 May
57
Hs
105 Feb 1 87 Feb
51%
51
503t 51% Pressed Steel Oar
51
50^4 51'(
50'4 513,
410 95 iMay
51Hj 613,
Aug
Do prel
24734 Jan 15 230 May 258
97% 97 Hi 97 Hj 97%
•97 Hj 98
35( 2 19 >4 May 2 62J4
9 7 '8 97',
*97Hj 98
•97Hj 98
03% Deo
PoUman Company
224
Jan 151 30 May
129
• 225
225 225 • 220 227 'i >225 225
1,500 44 May 2 107 J:,n24 93 Jan 106
230
227 227
Nov
Railway Steel Spring...
52% 50
52
52 '9
52
52
100 99% May 4
6318 53 Hi
52
53
33
Do pref
39 Jan 12 15 Jan 36% Deo
•101 102 Hi 101 102 Hi
7,300 22% .May 2
•loo 102
100 102 Hi 102Hjlt>'-i'2 100 102
28" Republic Iron <& Steel
•2884 29
110 'q Jan 9 67 Jau 108 Deo
28%
28 Hi 29
29
-29 Hi
28
29
28 "4 29 14
5,400 91 May 2 97 Jan 12 60 Jan 118% Fel>
Do prel
10134 102 Hi 101% 10134
8,450 69% May 2 113 Ha
102 H» 103
101 Hj 10234 IOOI4IOOH, 101 101%
loss-Sheffield St. <fc Iron
79•78
Apr 3 lOO Jan 130 Feb
79 "4
7914
79
78
110 Apr 26
7814
7977='8 79Hi
77
79
Do pref
•110 1'20
xlOj Jan 12 68 Jian 148 Deo
•110 120
Jan
110 110
110 120
•112 110
112 116
Deo
3i500 129
Tenn. Coal, Iron <& RR...
83 '4 Jau 24 37 Hi J an 60
May 2
147 147 Hi 147% 148 H, 146 147%
147 la 148
148 148
145 14 6
1,300 60
8% J'ue 15% Oct
75
75
77 Hi 77 Hi Texas Pacific Land Trust
7514 7*5
8 May 2 ISi^ Jan 19
75
•70
75
71
400
74
75
rmoa Bag & Paper.
68 Ian 823^ Deo
•8% 9% I
84
18
8% 91*
9
100 70 April 53 Jan 17 19% Jan 48% Deo
9
Do prel.
*70
Jan
72
71,
71
70
7,400 43% May
i70
48 0. S. Cast 1. Pipe <fc Foun.
96% Jan 24 79% Jan 9734 Apr
48
49% 48% 49% 48 Hj 4«* t 48-8 49
030 91 May
49
49
493t
Do prel
l38%Jan26[ a 10 Dec 134 Feb
93% 93% -9234 94
59234 92•9214 92
9234 92=
60 109 May
92 "4 9 3
United States Express...
94 Hi Jan 20 77 Jan 9 8 Ha Mar
109 109 115
'105 115
} 109
'108 120
'108 120
2,500 84 Mar
U S Realty <ft Improve'ni 12,500 24 Mar
39 Mayl6l 18 Feb 40% Apr
89
89
89
«tf8
•87
89
90
911* •89
90
90
90
Reduction <fc Rehn'g
80 MayiO 35 Jau 7.114 Aug
38'.
35% 36 U 3
30
33'>4 39
34
33 Hi
33
33
19,700 60 Mar
33
33
oS^s
Do prel
773,
58% Jan 22 3334 Jan 118 Sep
79% 76
77
80
76
73
73
74 H,
10,500 43% May 2
73
74Hi 7J
Apr
States Rubber...
4934 50 Hi United
j;115 Jan 15] OS's Jau
60 Hi
49% 60% 50
60 Hz
50
50% 61
1,100 105 Hi May 2
60Hj 6114
Do Istpref
109%
10934 109% 109 '6 109
x87 '1 Jau 15 75 Nov 83'4 Deo
May
11014 110'4 110 IIOI4 * 109 llO"., 10934
1,000 75
43 "4 Deo
2d pref
Do
46% J.in 20 24% May
80% 80H>
81
80% •80
80
80 Hi
81 '4 8II4 •80
82
80
213,850 36)4 May 2 11314 Jan 20 903.1 May lo7
Deo
413.
40 Hi 41 United States Steel
41Hj
41
41*8 41
61,570 102 May
40% 41% 40% 41 Hi 41 106
Do prel
58 Jau 2] 2334 Sep 58% Deo
105% 106'. 105% 10534
36 May
10014 105 106 '4 105
3,670
I06 1003b 105 Hi
42 w.
4134 4134 Virginia-Carolina Chem..
117 Hi Jan 2 l03%Mi»y 11334 Deo
42% 42% 42
43
43
400 105 May
43»8
43
43
42
J'ne 62% Feb
Do pref
6\i
•109 Hj 110 Hi 110%110i4 109%110Hi
300 38 May 2 50Hj Jau24 {22G%Deo 260 Feb
11034 110 '4 *109HllU
111 111
Virginia Iron Coal <& C.
43
42
43
43
233 Miir23 200 Apr 10]
41 43 H. '41 41
•40
43
43
44
Co
92 Jan 95% J'n«
WfeUs Fargo &
26;
260 200 \-2'M 260
•250 260
•250 265 250 200
4 75 .c91 Mai-20 91% Jau
152 May 134 Apr
92% 92% Vt est'n Union Tele'gpli
92% 92% •92% 93
•9214 93
93
400 153 May 2 176 Jan 6 187 Hi Deo 197 Api
923g 92*6 • 92
West'gh'seEl&Mtgasaen
154 154 •157 162 156 162
185 Apr 8 188 Jan2'2'
51-4

61

51

52

240 255
•240 255
20 Hi 21^.
•21 >« -211.^
56 H> 56Hi
66^4 57
10738 108=8 Xl0838llU'4
26
"25
94
•a4'-2 95 >,

5245

245

243

5

250

250

240

4

381 ^246
e,80L 19
1,150 52

dams Express

I

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158

164

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156

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185

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185

185

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Istpref

QUOTATIONS
BANKS AND TRUST COMPiVNIES-BROKERS'
Bid

Uanlu
Union

Exch]|

Ask

ni7%

107
United
U S Exclia'el 125
Wash.H'bt3', 225
WestSidell.. 600
YorkvUlel .. 400

113
130

Iloni^s

Jiid

Dealers'H

BBOOKLTN

ProspectPk*
Terminal

BoroughH.... 150
100

140

t

.

250
300
376

160

145
140

Unionll

215

md,

I

N. T. CITT
Bankers' Tr

150

395
Home Banki 150
Mauutactrs'. 395
'280

Trust Cos.

ASk

Trust Co's £id Ask
565
Ave Tr
Guaranty Tr 525
Guardian Tr 222 228
Fifth

First

Nassau
NatCity
North Sidell

Brooklynll

Ask

BEOOKXTN

Mechanicsll

Broad way 11-

I

530

Bowl'gGreeu 220
Broad wayTr, 155
'290

Coniral Tr'st

260

385

415
165
150
235

Common w' til

162

Hi

t-2105

Colonial

Columbia
Kuipiro

Ti

Farm Lo ATI

100
315
515
1440
1 400

90
310

..

K(| ui table

1

400
275

Kniok'rb'k'r 1200
Law T I &'Vi 290
Lincoln T»... 590 600

Manhattan
Mercantile ..
Metropolitan 590
MoriouTrust 840
130
Mutual
Mut.Alllauce 216

490
860
600
360
140

220

Trust Co's

Bid

_
I

rruat Co's

Ask

Bid

BROOKLYN
1000 1076
Brooklyn Tr 410
720 |730
175
Cili7.en.i'....
Est Tr't 325
Real
Flatbush ... 260
StaudardTr't 4 '20 440
Franklin ... 345
TitleGu&Tr 630 050
Uaiuilton... 350
Tr Coot Am. 750 705
105
Home
Union Trust 1390 1410 jonklos
190
USMtg&Tr 450
450
1325 1376 Kings Co...
Unit States
LlslLJbTr. 290
335
Van N'deiiTr
2b0
Nassau
Wasliington. 400
1346
People's
200 270
Windsor
Wllfiamsb'g.|225

]

Asll

N Y Llf eATr
Tr
New York

310
270
236

,

'^^S^^^Stas-HSU '.^Si^: ^^sar'i H^S?s;A:i;r;ri;^..n.t, ».su.>.....

Bid and asked prices; no sales on this

clay.

«

l,'

week.
•Sale at Stock ifixoliAnge or at auotiou thia

.

New York

Exchange— Bond

Stock

«u;ci!PViN<j

UOHDS

Week's

STOCK IflXOHANQK
Wkrx K!»i>ino May l-*

Range or
haxt Saie

K. T.

U
U
U
U
U
U
U
U
U
U

I03I2 li'^"-,
03 7g Apr "(Hi
108 Apr'(i(>
lU2'e iO:i'<
107 J'ne'Ol
104 "2 Oct '0"i
IV^\ lOII'eApr'OC

6

klOlh

S 3a re>? small bonds. .fcll'l!S 38 cou small bonas-.fciyiK

8 4s roRlaiered
8 4.S coupon

/il«07
/Il90^

1

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8 48 registered
192&
8 4s oonpoo
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.131
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*

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t

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Class
Class

98S4
95^4

A 4 to 5

tiese

B58

1901:

a re

Apr'06
109i4Oct '01
102>aMar'02
11 1
Mar'02
11934 Oct '04

new

consol 48. .1914

10234 Oct '05
13612 J'ly '01

6s

Mar'Of
96i«Apr'06
96i2Deo'04
9434 Mar'OO
22
24

120

22

Sale

Kailroai!
Hee So Br
At Coast Lilne
Albany <& Susq See Del <& Uud
Allegheny Valley SeePennKK
Alleg <fc West See Butt R «fe P
92
A1995, -J
Ann Arbor 1st g 48
S Fe—Gen g 48.1995 A-O 101 Jg Sale
Atoll
1995 A-O
Begisiered
991a
1955 J-D 1103 •« Sale
Oonv K 48
Warrants for 50-yr conr 43
Adjusliueut g4s
95 Sale
/il995 Not
Kegiatered
/il996 Not
Stamped
/il995 M-N
93 Sale
99
Debentures 48 Series E. 1907 F-A
Series F
99
1908 F-A
Series G
1909 F-A
96i«.
Series
1910 F-A
Series 1
1911 F-A

30

Alabama Cent

laba Midi Hee

90

T&

IOII4
lOlia

103 1*
101 14
9434

95
91*4

K

1913
East Okla Dlv let e 48.. 1928 M-S
Atl Knox <& N See L
Atlantic Coast Ist g 48.Aie52 M-S
Charles & Sav Ist g 78.. 1936 J.J
Sav F <&
Ist gold 68.. 1934 A-O
Utgold 68
1934 A-O

AN

W
W

Ala Mid Ist ga gold Ss ..1928
Bruns A
Ist gu g 48 ..1938
01962
L & N coU g 4s
eU Sp Oca <fe G gTig48 ..1918
Atlantic <fe Danv See South By
Austin & N
See Sou Pacific

W

T)alt <fc 01ilopriorlg3ia8.1925
Jj Registered
;il926
Gold 4e
hl9i8
Registered
fel948
P Jim & Div Ist g 3ia8l925
P li E & Va Sys ref 481941
SouUiW Dlv Ist gS^as... 1925
Registered
/a925
Monon Riv Ist gu g 58. .1919

M

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& Car

'06

93

56

9OI2

95 Is
93 iv
88
108
101

991-j

Jan '05

9812 Nov'04
'04
9913 Feb '06

97

96I9

99S8

99 <^ Sale

Oct

»9ia

39

UO»a
128

,

132^6

Jan '06

112»8Jan'04
114»8Nov'05
yyi^Mar'oe
93 14
93^Sa)<i
^3h 13
97
99 la Apr '06

J.J

M-N
J.J

J.J
Q-J

95

n\

Sale

96

A-O 102 >4 Sale
i
102 H)
M-N
M-N
98«8
J-J

n

91»g

9l<>t

33

94«8

93 M»y'06
102 1« 1023e
102>4 102 1q
02 Apr'06
91\i

9912 0912
92 14 95h
9912 9912
981a

9638

93
93
101 10512
IOOI2IO319
91^8 92

9634

95*4

9II4

90

996b
9214

92 1« J'ne'05
1081a J'ly'06

109

Apr'06

II912 Mar'04

97

May'06

97

100

See Illinois Cent

Bklyn <& Montauk See Long 1
Bruns A West See Atl Coast L

NY

Buttalo
«& Erie See Erie
Bultalo B
P gen g 68.. .1937 M-S
Ail & West 1st g 48 gu..l998 -O
CI & Mah Ist gu g 58.. ..1943
Rooh & Pitts Ist g 6s... 1921 F-A

&

117

98
112

<fc

1922 J-D
Southwest See Erie

Bun & Susq 1st ref g 4s.dl961 J.J
Bur C R & N See OH I P

Apr'97
Apr'06

116>2ll7l2

.

.

124
127

12>iiaFeb'0e

Consol 1st g 6s
Buttalo

May'06

103
124

1161a.

98 13 9812 May'Oti

98

981a

124
1281a

99%

<fe

C^anada South 1st 68

1908 J-J
'2d 5s
1913 M-S
Registered
1913 M-S
Car b & Shawn See 111 Cent
Carolina Cent See Seab Air L
Cartilage <fe

Ad

10218 Sale

106

106

10134
105'4
10534

10218
IO512

101
105

10214
10834
10534 10534

Jan '06

SeeNYQ&H

CedRIaF&N SeeBORAH

Cen Branch U Pl8tg48...1948 J-D
96
Ceil Branch Ry See Mo Pao
Cent of Ga RR 1st g 6s..pl945 F-A U9ia
Cousol cold 68
1945 M-N 111 Sale
Registered
1945 M-N
l8i pref income g 58
97 "n 98'-?
j>1945 Oct
8912 901^
2d pref Income g 5s
pl945 Oct
3d pref income g Ss
pl945 Oct
89 Sale
(Jhutt Div purmon g 48.1951 J-D
95
Mac <S> Nor Div Ist g 6s. 1946 J-J 110
Mid Ga <& AU Dlv 58. ...1947 J.J 110
Mobile Div Ist g 5s

1946 J-J

95

Mar'06

94

95

119

May'Oe

119
109
113

121

llOia
111
113 Apr'06
97 18
97 Is
90
90
89 14
89

9334

114%
113
99
93

80%
75% 91
94% 94%

94'a.'!LpT'06

Ist cousol g 5s

1931*

193H
Registered
199'^
General gold 4'a8
199'^
Registered
Craig Valley Ist g 58
19411
R<& A Div lstcong4s..l98"J
198'.'
2d consol g48
Warm Spr Val lHtg58..iy41
Greenbrier Ry istgugls '40
ChlCcfe Alt RR ref g 38. ..19411
MaUway ist lien 3%s...iy5u
195('
Registered
Chic Burlcfc Q— Denv D 48 1922
194'.)

Registered...... .1879-1929
Slnk5ig fund 58.. .1879-1929
Registered
1879-1929
Debenture 63
1909
Registered
1909
Debenture 58
1921
Registered
1921
Sinking fund deb 68
1933
Registered
1933
Des Mo <fe Minn 1st 78. .1907
Nwth lUinois 1st 58
1910
F <fc St Paul Ist 5s 1909
Ott
Winona <fe St Pet 2d 7s. .1907
MU L S & West Ist g 6s 1921
Ext & Imp 8 fund g 58 1929
Ashland Div 1st g 6s. .1925
Mich Div l8tg6s
1924
Convertible deb 6s
1907

incomes

.'..1911

Couu Ry<feLl8t<fcref k4%s'51
Stamped guar 4%8
1951
Den Con Tr Co let g 58... 1933
Den Tram Co con g 68. .1910
Det United let con g 4%8.1932
Havana Elcc consol g 6s. 1952
Inter-Met coll 4%e wh Issued.
Louis Ry Colstcon g 68. .1930
Manila Eleo Ist

& coll 68. 1953

'NoprlMjlnday;

J-J
J-J

M&

St

L

<fe

Ist

G

<fc

iJrs

i,&

iru

jreu

Consol gold

M-N
F-A
F-A
F-A

FA

100

104

10834 Sale

108%
110

90%.
91

.

S8

J-J

J-J

103%

J-J

101

FA
A-O

i03'

96
96
94 Sale
883 Sale

94%
93%
88%
109

96

lateat price thl8 week.

97

Apr'06

10534 109

102

91

98

aStteJan

95

Mar'Ob
May'06

no
95

96%

8
51i

J-J

JJ

J-J

M-S
M-N
A-O
J-J
J-J

FA

J-J
J-J
J-J

loV

A'o

.

112^,

1

.Lov Hiyli
13Z

127% 131%

.

1

11238 113

.

102
101

Mar'ut;
Mtty'06

102

IO3I4
103%May'00
107
107
107
11534 116»( 11658 llO't
112
115'-, 114%May0l
106 Sale 105 "i 1 OU
104 105 Apr'Ot

103
107

loo

112
101

.

96%.

102

-a

100% 102%

y0''4

94

5.S

M lst58

NO

See

80

"79"

791^

100^4 101

'2

92% 93%

Bway<fii 7th

lOOiaMay'Oi.
t'3%
93%

9934 102

92% 95%
104'4 105''8
10(1

10234

105

107

104% May'06

97

104% 104%

Api'05

May'OG
108% Apr '06
105

11614

130

n

J-J
J-J
J-J
J-J
J-J
J-J

94'« 9634
103 -e 10438
132 139

118% 118%
11734 118'b

133% 133% May'06
114% 114% Apr'06

132% 137

113%li4%
108%
108% 108%
105% 110%

May'06
106%
108% Mar'06
107 "a Sale 106 la 107%
107

107

109% J'ne'04
93

y4

95

94

116% Oct

93

116 Apr'06
108%
108 Apr'Od
113*8 114% 114'aMuy'!b

107%

118%
107% 108%
116

113^4 115

107%

1C7
137%J'lv i
11134 Mar'Oo
106 Aug'04

..

124

110%
102%

107

108
106%...
111%...

108%Apr'Ub

115
125
103
102

.

.

97%

97

103
'

il4"

A-O
A-O 109
A-O
M-N
M-N
103%
A-O 105%
A-O 105%...
M-K
M-N
F-A
M-S
M-S 10034
M-N 101 ...
M-N 122 ...
F-A I17»8ll8%
M-S 12434...
,

12434...

F-A
M-N 102

,

106% 108%
10634 10534
11234 115%
IO834 IOS34

Feb '06

97%

102% 105%
101% 102
13

Nov'98

114%NoT'Oo
114% Feb '06
109

97% 100%
114%114%
108% 109

109

108% Nov'05
104% Mar'OO
104

115
126

115
124

Apr'06
Apr'06
Mar'06

104% 104%

Mar'04

112% JfaL'06
108»4 Jan'04
II634 Mar'06

il"2

Feb'06

117

117

% 112%

11534 117

105%Dec'05
104 Dec '05
110%Mar'O5
122% 12214
117% Apr'06
142% Feb '02
128% Feb'06

117

122% 126%
117% 118
128% 128%

105 »$ Sep '05
109 Sep '03
120=8 Feb'06

1193^

119%
103

182% 182%
11112113%

10534 Feb '06
11234 Apr'06
10834 Mar'OO

.

101^8

109

112^

106=8 Apr'05

..
..

121

%

11138

182% Apr '06
111% 111% 111'.,

10212

97

'05

II4I4

Ill

J-J

11734 120

118^4 Mar'06

111%

107

105

108% 112%

9634 .Vlar'Oe

1043eMa>'06
J-D 10438
133 Apr'06
A-O 131
M-N 116 117% 119% Apr'06
118%Feb'06
M-N
J-J
J-J
J-J
J-J
J-J

82 %
82

lOO^sMay'Ot.
105
105

105

J-J

9934

80
78

110% Jan '05

108% HO

ll:t

120S8

Mar'OO

119
101

119%
103%

119
102
102

Sale

101%

103

99% 102

May'06

9334 bale
9934

93%
97

J'ly'04

90%
88%
88%

9734

Deo '05

96
93

Nov'05
May'04

88
88
79

,

90
Sale

77^8

91

90%

79

90
102
116

n4

92^4

89% May'06

119

89% 89%

May'04
79

69

81%

76

Dec '05
91

102%
102
119% Feb'06
120%Mar'03

97

146
6

88% 93
100%102%
119% 119%

111

105%

1952 M-N •Ill ....
1923 A-O 106% 109
Cent

Nov'05

105
111
108

105
111

106»8

111

Apr'06

108

11138

May'OC

111

I'n

col tr

g

F-A
2002 A-O

6s. 1907

111

Sale

111

87% 85

111

May'06

Av l8tcg5s 1943 J-D 112=4115% 112% May'06

Col&9ih Avlstgu g 5s. 1993 M-S
IjBX Avife P Fl8tgug5s 1993 M-S
Third
Third

17

79%
79%
80%Ma>'05

100

J.J

9634

y934

:i6%Feb'05
10434 Mar'06

M-S

M-K
M-S

102%

96%

iluy'UO

80 \

109
105
112

111034

Feb'06
May'Ob

Kailwny

Met St Ry gen
Ref g 48

111

114% 114%
105
112

10.5

9934 Feb'06

100

106%
110%

116i4ll9'-j

113% KeO'05

105%
A-O 106%
A-O 100% 101
M-N 103% 104
M-N

g 78. .1927 J-D
g 5s .01919 J-J

Ave RR cou gii 4s 2000 J-J
Ave Ry 1st g 5s.. 1937 J-J

MetWS El(Chic)lstg4s. 193h

89% Mil El Ry & L 30-yr g 5s. 1926
Minn St Ky Ist con g 58.. 1919
iOU3g 102% St Jo Ry Lt H&PlstgSs. 1937

J'ne'OO

90%

11314

110
90
89
88
102

Mny'OU
Mar'OO

94

104

107%

109

Feb'06
Feb'06

102% Apr '06
96

J-J

M-S

90
89
88
102

A-O
J-J
J-J

1

11234

CRIF<&NWlstgu5s.l921 A-O 109
Choo Ok
hic -r

100

.VI-

M-S
M-S

M

Keok

106

AO
MN

H

llSiaDeo'US
115 Nov'05

9734 Sale
97%
98 297 91% 100
106% 106 "a 106 May'OG
106 106%

127%Apr'06

.

100

'.

January

M-S

Chic Rook l8l & Pac 6s.. .1917 J-J
Registered
1917 J-J
General gold 48
iy88 J-J
Registered
1988 J-J
Refunding g 48
1934 A-O
Coll trust Series
4s ..1910 M-N
J 4s
1912 M-N
48
1915 M-N
N 48
1916 M-N
48
1917 M-N
P4s
1918 M-N
Chic R I & Pac RR 4s. .2002 M-N
Registered
2002 M N
OoU trust gold 58
1913 M-8
Bur Ced R <fc No 1st 58.1906 J-D
Con l8t<fecol trg58...1934 A-O
Registered
1934 A-O

sjtreet

A-O 106

.

2^4

101%.

M

.11l!SCei-J.ANKOIJS BUM>?^-t;ontiniie<l on Mext
Street Hallway
Brooklyn Rap Tr g 58
1945
l.st refund conv g 4s
2002
BkCity 1st con 6s.1916.1941
Bk Q Co <& S con gu g ea.l941
Bfclyu Un Eljst g 4-58.1950
Stamped sruar 4-58
1960
Kings Co El 1st g 48
1949
Stamped guar 4s
194'.'
Nassau Eiec gu g 4s
1951

J-J

M-N

1

Jiigl

ieange
Sine*

5;^

10^34 Aiig'or.i
128 Apr'Oi.:.... 128

.

.

24

1

SouthwestDivl8t6s....l909 J-J
WlSife MinnDivg58....1921 J-J
MU & No Ist L 6s.. ..1910 J-D
1st consol 6s
1913 J-D
Chic <fe Northw cons 7s
1915 y-F
Extension 48
1886-1926 F-A
Registered
1886-1926 F-A
General gold 3%8
1987 M-N
Registered
»1987 Q-F
Slnkuigfund 68.. .1879-1929 A-O

115MAuk'05

110

127
J

See Ho Pacitlc C<.
6'e« Atl Coast LimOhio g 68 ser A.. A190>- A-O
Gold6e
al911
<fc

N

114>a

10614

J-J

Chas&Sav

Registered
194^*
Gold 48
1949
Iowa Div sink fund 58. .1919
Sinking fund 48
1919
Nebraska Extension 48.1927
Registered
1927
9512 96I4
Southwestern Div 48
1921
Joint bonds See Great North
9434 JO
Debenture 5s
1913
20
23 "a
Han<& St Jos consol 6s.. 1911
Chic<fc E 111 ref & imp g 4s 1955
Ist 8 f cur 68
1907
Ist consol g 68
1934
General consol 1st 58
1937
Registered
1937
Chic & Ind C Ry Ist 58.1931.
Chicago <fc Erie See Erie
90
99
Chic In<fe Louisvref 63. ..1947
100 1041,2
Refunding gold 5s
1947
99 1.J 10538
Loulsv
A <& Ch 1st 68. 1910
101 la 10534 Chic MU & St P term g 08 1914
101i«102i5
General g 4s series A.. 61989
"1
9738
Registered
el989
General g 3 %s series B.el989
91
97
Chic<& LSuDlvg5s....l921
Chic & Mo Riv Div 58. ..1926
9834 9834
Chic <fc Pac Div 68
1910
100 la 100%
Chic cfc P
l8t g 08
1921
Dak & Gt So g 58
1916
Far <fc Souassu g 6s
1924
1910
Hast <fcD Div Ist 78
98iftl01i2
1910
Ist 68
1908
I & D Exten Ist 7s
9834 1021a
LaCro88e<feD let 68.. ..1919
Mineral Point Div 58. ...1910
13278 iai'e
1910
So Minn Div IstSs

M-M 110

1

Cent Pacitic
Clies

W

100 1^ Jan '06

CenOhloRlstog4'28..1930 M-S
Pitts Cley t&Tol Ist g 68 1922 A-O ii'f"
Pitta & West Ist g 4b... 1917 J-J
99
Bat Creek <S> S See Mich Cent
Beech Creek SeeNYG<So B.
Bellev

102 144
3
lOlia
103 Of 313
101 14 12
9
96

9968 May '05
98=4 Apr'06

H

Series

May'06

Sep

RR & B of Ga col g 58 1937
of N J /ren'l gold 5h. 1987
Registered
/il9K7
Am Dock & Imp gu 58. .1921
Le& Hud R geugUKSs 192(i
Leh & Wilks » Coal 5»..1912
Coil ext guar4%n
glVHt
N Y & LougBrgeng4H 1941

Cent

=5

or

Lout Half

A$k Low

Bid

XUmois Div3%s

106»iiDec'04

North Carolina consol 4s.l91U
1919
1933
Eo Carolina 4'a8 20-40
Tenn new settlement 38. .1913
Small
Virginia fund debt 2-38.. .1991
68 deferred Brown Bros ctfs.

9 034 101«6
97 14 101 14

lOOTg 101

101

192i
Currency funding 48
Dlst of Columbia 3-668.... 1924

Louisiana

92 o„

510
42

"-^

'101

C 48

931-;

89 ••8
84 't 176 83 14
84
1051.
69 103 14
104'4
99 14
99 >4 May'Oti
94^4
9534 iV9 9238 9534
pr ices o n the
0/ $6 toX.

101

1901
1901

class

86

99^. 2u5

9218
9II4

tlt'S

i J

State Securities

100

99
98

104''<

18

i

103% 1037s Gen

103 14 104 ^
129^8 129 V
129 "21:1214
10834 111

MayOU

WMk't
Mange

f'ri'lav

May

Hip/i

104 3 J i(»434
1033^
103

03

131

2d series 6b

1911
loan 4'2» cUs full pd.l92i')
2d series 4
ctfs full paid
£ loan 48 ctfs full paid ..1931
RepuU of Cuba 6s eiten debt
U « or Mexico 8 f g 58 of 1891
Gold 4s of 1904
1954

1

110»4 111

I

Foreism CJoveminent
Japanese Govt 6s 8terl'g.l911

S,

STOCK EXCHANGE
wkkk K.vi'tv't May 18
44

N. Y.
1

103'f
102»a 104-'j

K
129'8F(?b'()i;
1 !»::!

/yow

Weekly and Yearly

i*a(;k«*

UONDS

Since

103
103

1

/cl91>

flecord, Friday,
i'(m;k

Kange
January

Ao

(^.

8 38 refrtstereil
8 3» coupon

2-C

I?

Hi(jii

Lov

tioveniiiieiil
B 2s con»olreKi8tereU.(il!l3(l
dlU3(i
S28COD8ol coupon
LI.

N

:

102

St Paul City Cab con g Cs. 1937
Underground Eleo Ryo of Lon
don Protit sharing 5s... 1908
94% 96 "o
9.S% 95 '4 Udion El (Chic) Ist g 6s.. 1945
90 '4 United RRsSan Frsf 4s. 1927
86
United Rys St L 1st g 4s. 1934
Chic St 40-yr con g 6s. 1936
9S 100%

W

dDueApr <DaeMay ^DueJ'ne ADue

J'ljr

114

118

io4%

!!!!!;

J-J

114%119%

ll4'.iMQy'06
1131a
93

113% 115%
92% y6%
118%119

118 _
94 Oct '06
106 Oct '99
107% Feb'06

J-J

98 % Sale
101
79

J.J

88%8aie

107

"a

107%

!!II!Iioi%
114 114%N0T'06

j-n
A-O
A-O

117
92

112% 11534

114% 113%
92 %
118%Saio 118%
9234 Sale

F-A

FA

21 110
83

.M-N

M-N
JcDueAog

9834
98%
10534 J'ly '05

78%
88%
99

Dae Oct

79%
88%
Dee '97

pJDoe jSot

»6%

9834

71

97

08*4

86% 80
fOpttoB

Sato'

May

BONDS

WetlCs

STOCK KXCHANQE
Wesk Knbtkq May 18
Ohio St L A Pitts Bet Penn Cc
Chio St P M & O con 68...193
Cong 68 reduced to 3»a8.1V{3 J-D
Ch St P & Minn IstgCs 191? M-N
Nor Wisconsin lBt68...19.; J.J
St P & S City Ist g 68.. .191';' A-O
.194' J-J

Fridav
May 18

a. T.

Chicago Ter Trans g 48..

132

134

133

<fc

Oct

113
112

J-J
M•^"

M-N

1

103 '4 ...
100 .-

J. I,

Bt L Div lat col tr
Registered
; - - Js V,
8pr & Col DiT l8t g 48. .1940
Div Ist g 48. . - 1940
Val
C I St Ij <fc C consol t)8..192o

WW

J-J

CCCdi

J-J

M-N

•••

loo^
.192b J-J
1914 J-D

121>4

103 Feb '00
1 12 \ Apr '00
122 Jan '00

129

134

J-D
J-J
J-J

W

Q-J

A-0

Apr
A-O

72
109

J-J

&

114

1161a Jan

.

7GI4
93^8

'0-

191; J-D
Ist refgugSiiS...-. .2001 J-D
1st 63.. .1921 J-J
N y Lack &

W

Construction 58

192o

FA

I24I4
lOy I4

.

M-K
A-O 10138.
Warren 1st ret gu g 3138.2000 F-A 127 1«.
Hud 1st Pa Div 7s. 191^ M-S
Del <fc
191' M-S
Regiatered
1940 A-0 10834
AXh& Su8Conv3'iiS
A-0
Guar goki Os
-„---},,oi'
133
Saratoga l8t7a.lU^J M-N
Renscfe
Del Riv RR Bridge See Pa RU
1001.
Gr let con g 48.1930 J-J 106 IU7I4
Denv <& R

& improve 48 19<i3
SyrBing&N Y lat 7s.. 1901-

96 V;

90

4i<28

Utah Cent Istgug4sal91'; A-0
Rio Gr 80 gu See Rio Gr So
Des Mol & Ft D See M & St 1
Des M & Minn See CU <fe N W
Des Moi XJn Ry 1st g 58..191 M-N
Det M & Tol See L S & M So
Det & Mack Ist lien g 48.1995 J-D
199r. J-D
Gold 48
1951 J-D
Det Sou lat ^ 4s
Oliio Sou Div 1st g 4s... 1941 M-S
Dal<& Iron Range IstSs.. 193^ A-O
193 A-0
Registered

107
97
87

1047810'

126i«Mar'00
112 Mai '06
105 Oct '05
lOlVj lOlHl
102 Feb'03
133 Feh'0(!
149 Aug'Ol
10734

1011210414

2d ext gold 6a

3deitgold4i2S
4th ext gold 5s
6th ext gold 4s

1947
1919
1923
1920

133

133

195;i M-N
Registered
1950 J-D
Cairo Bridge gold 4s
LomsvDiv&Term g3ias.l953 J-J
1921
MidiUe Divreg6a
1951
Omaha Div Ist g 3a
St Louia Div<feterm g 38. 1951 J-J
1951 J-J
Registered
1951 J-J
Gold 3I2S
1951 J-J
Registered
Spring Div 1st g 3128... 1951 J-J
Linea Ist g 48.. 1951 F-A
Western
1923 J-D
BeUev & Car lat 68
Carb & Shaw 1st g 4s... 1932 M-S
ChicStL&N O g 5s.. .1951 J-D
1951 J-D
Registered
1951 J-D
Gold3ia8
1951 J-D
Registered
J-D
MemphDiv Ist g48-. -1951 M-S
1931
St L Sou 1st gu g4s
Ind Bl <fc West See C C C & St L
1935 J-J
lat g 5a
IndDecfe
1935 J-J
latguargoldoa
1950 J-J
lat g 4s
Ind 111 & la
M-N
Int<fe Great Nor 1st g 68. .1919
1909 M-S
2d gold 58
1921 M-S
3d gold 4s
J-D
Iowa Central Ist gold 5s. .1938 M-S
1951
Gold 4s
Erie
Jetteraon RR See

142'2Mar'05
IOOI4

27

Mar'06
IO714
;i8

l'634

86i2May'06

99 101
IO6I2IO8
107 109
96I4 100
8612

91»8

105

104

102

10734
10634
105i2J'Iy'04
100 Miiy'oC

100=8 1011*

100

100

100

110 Dec'05
llSiaMar'OO
100 Feb'OO
94 Mar'03

100

lOlUMay'OO

100410114

70 Oct '04
104i2Apr'00
102 Oct '01

104410714

103 14

IO3I4

IO6I2 Mar'03
92 14 Apr'OO

.

80
101

100

914

9434

May'9'.i

123

921a 9312

106^

103
100

May'OO

100

,

.

99
122

16 10634 110

Apr'Ot

100

78 4 781a

7812 Apr'OO
82 Si Feb'OO

8212

82 4 821a

92 Dec'05
101 Is Oct '99
100 Nov'OO
10734

Jan

10734 107*4

'Ob

Dec'05
Nov'9b
May'OO
11934 Mar'04
9358May'04

122
90
12312 121

121

1234

ilO^Jan'OS

lOia

Nov'04

103

ICS's 108^8

lOS'e Jan'Oti

107i2Dec'02
100 Apr'OO
9914-...
111
115 117 116
99 14 99»4 99 May'OO
80"
78 Dec'06

99
116
98

100
120

1127^
Mar'Oli

112
86

115
88

112'8Sal(j

KalA<feGR SeeLS&Mb
an & Mich See Tol & O
K C Ft S & M See St L S F
K C M R c& B See St L & S F
Kan C & Paciflo See M K T

92

Jan '02

<fc

Sep

,10712 110

112^8

bo

99
93 12 96
,

87

12

*

99 14 99 14

99X4 Feb'06
96=4 Mar'06
81^4 Mar'Oo

95

86

88
113

102>4

M-N

112

lla'sApr'OO

M-N
M-S
M-b
A-O

104

192b J-D
1920 M-S
1920 M-S

11638 Apr'OO

.

114i2Feb'00
107 14 May'06
II6I4 Jan'06
103 Feb '05
131
131
133 Feb'OO

;0i.«8.

107

.

1091a.

100
131
101

.

.

Sale

"2

92

Sale

FA

lOo's

101

12

100 14 Apr'OO
90 12
93
88 Nov'04
93 12
9234
105 14
10314
127 Nov'0,=.

W

Lake Erie & W 1st g 5s.

EIC&N

12858 13412
133 133
61

99I4IO2
IOOI4IOOI4

90

J
See Cent of
Leh <fc
Leh <fc Wilkes b See Cent of J
& Caney Val See Mo 1
Leroy
Long Dock See ii,rie

Long Isl'd— l8tcong58.7il931 Q-J
1st consol gold 48

931-.

General gold 48
Ferry gold4ia8
Gold 48

"93"

\>i"
10034 109 'e

Unified gold 48
Debenture gold 5s
Guar ref gold 48

io4»8io4\
118

12234

Bklyn

i36i^i35'<l

N

09
Bklyn U Gas Ist con g 58.1946 M-N 109 Sa)«
72
72
1947 A-O
Buffalo Gas Ist g 68
Consol Gas conv deb 68.... 1909 J-J 1434 Sale 142
Co
Consuni Gas See P Q <S> C
103
1923 J-J 103
Detroit City Gas g 68
106
Det Gas Co con lat g 68. ..1918 F-A 1024.
,

YG&ELHcfcr

MN

KlngBCo ElL<fcPg5s...l937 A-O
1997 A-O
porotiaae money 08
£d El 11 Bkn 1st cod g 4b 1939 J-J

.

.120

IO8I2IO9I4
lll-<4 113
118
,116

J-D

MS

Loulsv & Nashv gen g 68.1930 J-D
19oi M-N
Gold 5s
1940 J-J
Unified gold 4s
1940 J-J
Registered
1931 M-N
CoU trust gold 5b
5-20-yr col tr deed g 48.1923 A-0
1919 J-D
KH<fc Nash Ist g 68

BONDS—Contuiuea

102

103^

Feb '06

93 4 Mar'06

ChG-LACkel8tgug6B

Apr 'Oi

11258

112
90I4

98 14 May'OO

Bale

113'e-f'in'Oi

106i4Jan'0i

I

r;r:;zrr.:i::;:rj.i>.;.;;,.;....: 1.^.0^ .ou..,.» .i,...,,

96I4

11414 117

May'OO

May'OO

OII4IO214

102 Nov'Or.
99i4 0ct 'Of>
98 May'OO

10141014

110

994
105
112
Ill

98

101*4

99

102 1«

J'ne'04

100 ^

29

Dec'O.Mar'O'.
Jan '00

HI

111

106
U8i«.120i4
120 1211a

106

10216 IO4I4

100
115
97

101

104

106'^

93
107

104

104

1054May'05
944 94 4 Apr '06

107*4
87*4 bale

lOHV,

107

941a
109*4

H5ia
1004

874

92
86
10l'elO«>«

87*4

102 4Apr'0i)
118 Apr'06
1014 101 14 101
103 Nov'06

101

1164118
100 4 104 >t

1".

,108

1937 J-J

Syracuse Lighting l»t g 68.'51 J-D
A El let g 58.. 1949 M-S
Weetthester Llghfg g 6e.l950 J-D

Trenton G

1154

II378II379
105i4l05i4

....

ConGCoofChl8tgug68.'36 J-D
MuFuelGasl8tgug58.194' M-N

98

934 934

'9','

NY&QElL<fePlBtCong5sl930 F-A 101
N Y & Rich Gas Ist g 68.1921 M-N 1014
104*4 Nov'(»5
Pat<fc Pas Gift E con g 58.1949 MS
120
VH)
Peo Gas <fc C Ist con g 68.1943 A-O 120 Sale 103 4 Apr 'Oil
1947 M-S
Refunding gold 68

108 4108 4
\i'i"

MS

Ist conv g 68.. 1910
1995 J-J
l8t consol gold 5s

Ed El ni

90

vii"

109 4

Oct

9814 9814
11834 1201a

Apr '01

105

103

98

11834

112i8J'ly 0.-)
105 Jan '00
11741184 119 Apr'Oi
lis 12118 Feb'OO
11638
102 103 102 4 1023<
101 Apr'Oi
'
il3'"il6 116 Mar.OO
974
97
9739 Sale
114>4 J'ne'05
110"b

109

1434

86 14

VA 1091211014

110
110
112i8Nov'05
98 14 Apr'OO

on Next I'age.

6.S...1948
NYGELH&Pg 48. ..1949 J-D
F-A
Purchase money g

'06

113 4-Mar'00|
117 Jan '00

101i< 101 V,

974100
M-S
J-D 110 ....
99 IOOI4
M-S
M-S
M-S
A-O 110 ....
M-S 109

168*4

Sep

7514

11558119
113i8ll3»a
117 117

11534 Apr'0(

115

,

M-S

137

Dec '00
108 4 Apr 'or
98 Feb'OC
121

Ist g

100

109
72 14

107*4

106 4.
96

191)

B&M Bl8tcong5sl935
1927
5s

n

11434

Gas nnd Electric liiglit
LacQa«Lof8tLl8tg68.«1919 Q-F 104
1934 A-O
Rel andext Ist g68
IO8I4II3I2
W-N 92
80*4 MUwaukee Gas L 1st 4s. .1927
72

112 Nov'03
61 4 Oct '01
89 4 88 4 Apr'OO

884

1st g 6s. .1911

Ist 53

V

1938
1922
1932
1949
1934
1949

1st con g gu5s ol932 Q-J
Louisiana* Ark 1st g 5s. 1927

KdEllUBkn SeeKCoEL<feP

Kq G LN Ylsteon g 58.. 1932 M-S
Gaa<& Elec Berg Co eg 68.1949 J-D
Gen Electric deb g 348. .1942 FA
Gr BapG L.CO let g 68.. .1915 FA
Hudson C» Ga« Ist g 58.. 1949
Kail City (Mol Gas 1 St g5H 1922 A-O

Mont

M931

Nor Sh B

»llSt!ELl..ANEOUsi

Una and Electric I.iiglit
Atlanta G L Co Istg 58...1947 J-D

<fe

NY&RB

116 116
103 103
lOC 110
1151411514

701a

N
N

Hud R

,

W

.

MS

IO712 Jan'06

.

9334

32

721..

Oct '00

N

Keok <fe Des Mo See C R I<feP
KnoxviUe & Ohio See So Ry

112 114
11212 11212

1031a

11312-

9634

721*

63

193' J-J lieiellS
1127(
1941 J-J
2d gold 58
North Ohio 1st gug 5s..194j A-O 108
Cent
L Sho & Mich S See N Y
Leh ValN Y 1st gug4ia3. 1940 J-J 1101*.
1940 J-J
Registered
113 II312
Lehigh Val (Pa) cons g 48.2003 M-N
Leh V Ter Ry lat gu g 68.1941 A-O
1941 A-O
Registered
11638ll93t,
114
Leh V Coal Co Ist gu g 58.1933 J-J
96
Lehife N Y 1st guar g 4s.. 1945
107 12 107^2
194o M-S
Registered
114 ll4i.>
Ist pf 68 .....1914 A-0
I0714IO8I4
1914 A-0 102*4 ."
Gold guar 5s
II514II6I4

88

Apr'06
May'06
IIIH 1 12 12 Feb'06
9934

72I4 Sale

City Sou Ist gold Ss. .1960
1950
Registered
Kentucky Cent See L <fe

Kan

'04

93 12 Sale
1953 A-O 104 105
60-year conv 4s A
ButtJS Y<fe Erie l8t 78.. 1910 J-D 123
104''8 Feb'06
190b J-J
gold 68
Butt&S
118 Miiv'06
Chic & Erie 1st gold 58. . 1982 M-N llSSi.
10234 Dec '05
1011*.
ol900 A-0
Jett RR 1st gu g 5s
135 h, 135 12 Fob '06
Dock consol g 6s..l93o A-0
Long
118 J'ly'04
Coal&RR Istcurgu 68.1922 M-N 110
11538 Deo'05
Dock <fe Imp Ist cur 08. .1913 J-J 110
121 12 Oct '06
N Y <fe Green L gu g 5s. 1940 M-N
116
,116
116
Ist ref 5s.l937 J-J
Sue &
NY
103 Feb'06
1937 F-A
2d gold i^a
107 I2 107i5Apr'06
1940 F-A
General gold ba
Terminal Ist gold 58. ..1943 M-N II514I2OV1 115i4May'00
Regis §6,000 each. ..1943 M-N
109 14 Jan'06
MidRRofiM J Ist g 68. 1910 A-0
WUk <fc Ea l8t gu g 58.194'.^ J-Ii 116 113 113 May'OO
1191* 116 Apr'OO
Ev& Ind Isl con gug6s..l926 J-J

tfeeN

Apr'Ou

104

<fe

Ist consol gold 78
1st consol g fund 7s
Erie 1st con g 48 prior. .1990 J-J
1990 J-J
Registered
l8t consol gen lieu g 48. . 1990 J-J
1990 J-J
Registered
1961
Penn coll tr g 48

KdKIU

102 12

W

20 105 lOb'g
102 4 102 «

102 1« Jan '00

100
] OS

98i4l01»»
97181011a

432

100
99

99 •»8
99

<fe

"i

Kne lstextgold4s

114^

112

108»6

IO714

88

12638127

L'^astol

& East Ist g 58.1941
& No See Leh & N

126^

12r)i«126i4

i)7

19101 J-J
2d 6s
Dul Short Line Isl gu 5s lt>16 M-S
Dul So Shore <fe Atl g 5s. .193' J-J

Minu SeeStPM&W
Juast Ten Va & Ga See So Ry

Apr '06

I2319.

,

1930 J-J
Improvement gold 5s... 19^^ J-1)
Rio Gr West 1st g 48. ...193)1 J-J
Mge and col trust 48A.1949 A-0

Elgin Jol
Elm Cort

791s

123 12 Apr '06
27 Jan '06
127 J'ue'06

Term

91

Dec '05

LN O &Tex

74 14

76»i

A-0

Registered

101

89

Mar'06

FA

FA

104^8

11134 115

1141.

89

,103

FA

M-S 1051a.
II912.
Morris& Essex 1st 7s.. .1914 M-N
1916 J-D
consol guar 7s
1st

Consol gold

73

Hock Val

Col Conn & Term See N <& W
Conn & Pas Bivs Ist g 48.1943
Dak&GtSo SeeCM&btl1
alias & Waco See M K &
Del Lack & Western 7s.. .190i
-^e*

Ma>06

72''8

Mar'9b

II4I4

86

.

115'uMar'06

75
9313 9376

J-J
Colorado* Son Ist g48...19-i.' F-A
Colum iSi Greenv See So Ry
Col & Hock Val See Hock Va.

Col&Tol

Feb'06

97

98
74

106i4l06»|

Ga Car

W

1041iiNot'01

A-0

W

Apr '00

102^4

103
101
114

lU9i-2l09>9

Han

94»2.Aug'03
105 Jan '04

100
111

consol 78.
Cocsol sink fund 78. -..1914
General consol gold oa. 19d4
Registered
.-v-Jx^f,
l8t pret 4s 1940
Ind Bl &
l8t pi 5a ...(193^
O Ind &
Peo & East Ist con 48. ..194
Income48..............1>;90
W\\ con Ist g 58.193^
CI Lor
Clev & Marietta See Venn RV
Clev & Mahon Val g 58. ..193b
Olev & Pitts See Penn Co
194.
Col Midland 1st g 4s
I

99-*4

104'8

Q-F

QF

May'OO
Oct '04
Feb '05

100
100

100

96
97

M-S

1003^

"i lOO-'ig

99 V..-

.M-N

fcl93;

58.

100i4Feb'0(

'10038 100

g 48. .1990 M-N

lOS'i

103»8

i^i

J-J

(

'91"

"•ii"

High No Low High

105

liaiilU^
'

Tal H & H of 1882 Ist
Georgia & Ala See Sea A Line
& Nor See Sea A Line
Georgia Pacific See So Ry
GUa V G & Nor See So Pnc C<i
Gouv <fe Oswegat See N Y Ceni
Grand Rapcfe Ind See Penn RR
10214 105
1001410014 Gray's Pt Term See St L S W
99=8 Sale
100i«101't Gt Nor— G B <fe Q coU tr 4s 1921 J-J
1921 Q-J
Registered. Ti
100 103
Greenbrier Ry See Ches <fe O
Gull&SIlstref&tg5s bl952 J-J 10212 105
& St Jo See C B <fe Q
ousatonic See N Y N H & H
IO6I4 108
1021^1031^ Hock Val l8tconsolg4i28. 1999 J-J
1999 J-J
Registered
103 103
A-O 100
C0I& H V Istext g48..1948
U2»i,115
1955
Col & Tol 1st ex 4s
122 122
Tex See So Pac
Honst E <fc
Houst&TexCen SeeSoPacCo
134 135
1951 J-J 108
I Uinoia Central 1st g 48..
1951 J-J
1 Registered
1951 J-J 10114
1st gold 3ias
19ol J-J
Registered
'.161^101
g3i28
1951 A-0
Extended 1st
17 69
80
1951 M-S
gold 3s sterling
115l2ll5h2
Ist
1952 A-0 104
CoU Trust gold 4s
1952 A-0
Registered..,
103 Sale
gold 48 ...1953 M-N

Mar'OO

January 1

1211^ 122 Oct '05
10912 109 h Apr'OO
IIII4...
114 Apr '05
10614 Feb'06

58.1913 A-0

112

112

Mar'Ot:

91

J-J

•0(

Since

or

119
106

W

Chic

Range

Ask Low

Bid

Penn Co

1st cons 68.1921 J-J

1'
Ch
Fargo & So See See M & St
Pere Mar
lint & Pere M
FlaC&Penin SeeSea Air Line
Fort St U D Co 1st g 4128.194I J-J
& Den C 1st g 68.. ..1921 J-D
Ft
Ft Wcfc RioGr Ist g 48.. -1928 J-J
ialHar<feSA SeeSoPacCo

lOOSzlOli-j
98 100^4
11312 1143^

9ii'ii

'•2

135^4

iijo'iii^i^e

liaHjMar'Oli

See

fVeek't

Last Sale

May

1942 A-0
Istgeneral gold 58
Mt Vernon Ist gold 68.. 1923 A-0
Suil Co Branch Ist g 5s. 1930 A-0

Dec '03

99

99»3....

Coupon off
--•v.VoV,
Chic& We8tlndgeng68ijl9ii^ Q-M

2

Range

JPHee

Fridav
J 8

STOCK EXCHANGE
Week KirDtNQ May 18
Y.

Low Bigh Erie <fe Pitts
Evans & T H
136

mgti

Apr'0(
129^4 Mar'04
120>eApr'0t
lOl'sMay'Oi

120i«121

.

«J* January

SaU

Last

132'2135's 134
93
133

'

& W M ich See Pere M arci
Choc 0& Gulf -SeeCBI&P
Oln H & D 2d gold 4>j8...19.<.
cm D I 1st gu g 58.. .1941
CFind<feFtWl8tgu48g. 2.,
Cin I & W let gu g 48 195;^
C I St L & O fiee C C C & St
ClnS&O SeeCCCStL
ClearUeld & Mah See B R &,P
Clev Cin C & St L gen g 48 1993
Cairo Dlv Ist gold 48....1 J|J.i
Cln W & M Div 1st g 48.199]

Since

A 3k Low

Bid

BONDS

Ramge

Range or

JYlee

l8tgold4s.
Eegist«red
Cm S & CI con Ist g

114L

Bond Kecord—Continued— Page 2

19 1906]

107
108

117

123

1034 107 T,
107

107

108

Jan'06
Feb'OH

106

103 4 Deo '06
,

109
100

10»
iio"' MiiV'dfc
106 4" Apr "06

.u..m„ ..^.^ >..o.^ .......

,o^^

i06 108^
Option Sal*

'.'.'.

t

H

)

Bond Record—Continued— Page 3

1142
/'riee

l,Cln<fe LexKoW4'^«...r.l31
IslifoUl f)S....lltao

&M

O

'2<1

Kold

PensacolaDIv

l'.»o(l

t>»

Alk Low

Kentucky

99
106

.Mar'OO

74% Uct

79
119

.

h&S A M M
L& N-Soutli M )olnt48.1952
N iria<fc 8 lHtgug68...1937
Pens
AM l8t ffu g 68..1921
8 & N Ala con ffu g 58.. 1930
Slnklund gold 6s
1910
L& Jett UdgoCogug48..1945
L N A & CU See C I & L
Mahon Coal &e« L S & M S
RycoD8ol4s.l99U

9513 96
114 119

103

AO
FA

101

38

101
104

Sale

100
lUoShSale

105%

120

'-J

Hi

112

97

100 H/

98% Apr '06

18^ 226

19»4
Id Hi

98 Hj

90%J'iy'01
105 May'OO

1.

cfe

<fe

Mo Kan & Tex

lat

J-J
J-J

g 48. ..1990 J-D
F-A

2d gold 4s
SJ.990
1944
Istextgold 5s
2004
l8t & refund 4s
Gen B t 4>2S sub rects
St L Div l8t ret g 4s.... 2001

M-N
M-S

137

etl.IrM&Sgencong5sl931 A-O
Gen con stamp gtd g 5s 1931 A-0

Hi

& ret gold 4s.. 1929

101

101
103

101

92

<fe

ti

M

120»8

9OH1
97

114 H2
97
97 Hi
14

102H!
87Hi

11 100

95%

Apr'06

113%

10

113%

113% 116
108 Hi 109%
106 109%

108H;Apr'0b
106^4 May'06
108^4 Apr'06
10534 Apr'06

IO8I4 108^4
10534 109

101
101
120
120
104H! I0412
107 Hj Feb '06

103%

103%

103
119
112

12038 Jan '06
113Hj 113Hj

.118
II318.

116
91

Sale

La&T

M

9334

51334

92%
933,

107 Hi Apr'06
1153g Apr'06

94J«

96
94
96
96
I25I8 12734 126
122
9834

114'2

Oct

NJJuncKR /See NY Cent
New & Cin Bdge See Penn Co
N O & N E prior Hen g 68 33I9I6
N Y Bkln & Man Bch See h 1
N YCent& H Rivg 3>28.1997

J-J

A-0

Registered

NY&

II8I4I2O
\Vi 113

118Hj

94H2

126

Dec '05
Jan '06

12038
11734

97
127

9834 99
llS-^llSHi

95

119

98

115 Ha 119%
112 115%

113 May'06
119i4Feb'06

II9I4 11914

II714 Mar'05

113

84%

83

J'ly '04

105 Apr'06
84\i
84H!

J-J

29

102Hj105
83
87Hi

R

con g 58. .1937 .M-N

<fe

<fe

<fc

9934

14

101%

101%101H,
i22>»125H>

.

109% Apr '04

.

US'*.
101

104

120

120

J'ne'Oj

Mar'06
lOOHiNov'OO

Hi.

104

Apr'06

97

Hj

97
.

'06

Jan

120
119

Hi

104%

98%

105% Mar'05

1U4

119 Hj MHr'o5

112
113 Hj.
.

ll3HiMayoe

113H>118

1133, Jau'02

101 .
10418.

107 Hi Feb '05
105
105
103 Oct '05

118Hj.

124

101 ,Sale
100

IOOHj

102Hi.

111

129%

132% Apr'06
1303^ Feb '06

10334 106

98
96

9SU
^dh 97 Hj
981s

aS^

98%

97hj

97 H

97 Hj 98 H)
98 4 102
88
93

987t
88»4 Sale

98^4 May'06
8834
89 H;

88
89

88
88
89
89
86 14 Apr'06

Sale

89
101»8l04

A-0
J-D

.

9934

91Hj

88% 92 Hi

86I4 90 "4
105 Hj 105 Hi

.M-S

M-S

95

J-D
.104

Improvem't

1941 M-N
1931 M-N

&

extg6s..l934
New River 1st g 6s
1932
N & Ry Ist con g 48.1996
Registered
1996
Div'l Istlcfe geng4s...l944
Pocah C& C joint 4s.. 1941
CC& T 1st gu g 5s
1922
Scio V <fe N E 1st gu g 48 1989
North Illinois See Chi & N
North Ohio See L Erie &
Nor Pao— Prior Hen g 4s. .1997
Registered
1997
General lien gold 38
a2047
Registered
a2047
St Paul-Dul Div g 4s
1996
Registered
1996
C B <fe Q coU tr 4s See Gt Nor
St P & N P gen g 6S....1923

W

W

FA

131

A-O
A-O 100
A-O
J-J

J-D
J-J

M-N

W

Q

J

Q-J

Q-F
Q-F
J-D
J-D
F-A

Registered certific's..l923 Q-F
St PaiU & Dul let 5a
1931 F-A
2d 53
1917 A-O
Ist consol gold 4s
1968 J-D

hio River RR 1st g 5s. 1936 J-D
General gold 5s
1937 A-0
Ore & Cal See So Pao Co
Ore RR & Nav See Un Pac
Ore Short Line See Un Pac

Sale

it7Hj

93
107

Hj

98H;
Sale

99%

9934

103 Hj Sale
102 Hj Sale

75%

salt

125

100% 104%

12434

Feb'OG

1073, 111
132 Hi 13234
13034 13034

12934 Nov'Oo
9934
100
100 Feb '06

9934

9234

93=1

103

97
91

Apr'Ob

97

100

99%May'0b
103%
102 Hi

75%

102% 106%
102% 106

103 H)
102 H,
76

75

78%
75%

Jan '06

100% 101

May'06

124

125

J'ly '99

113

115

7434

Mar'06
10934 Mar'06
100 Hi Nov'Oo
93 May'OO
116
116

98^4 103

92
115

Oswego & Rome See N Y G
O C F <fe St P See C <fc N
Oz'rkife Cher C 1st gu 5s g.l913 A-O
pac Coast Co 1st g 5s
1946 J-D 112

May'06

132
113

.

113

113

109%110
91
115

116

116

116

1163*

116

93

11434

Jan '06

110% 11434

100
112

Mai:'06

Apr'Ob

100
111

Jan '06
Apr '02

106%107

107

io634 ibs"

W

See Mo Pac
1st s fund g4Hjs.. 1917

95%

99% 103

12434

98''4

100%
114

ac ot Missouri

1921
Guar 3Hjs coll trust reg.1937
Guar3HjscoUtr ser B...1941
Tr Co certif'a gu g 3Hjs.l9i6
C St L <fe P 1st con g 5s. 1932
Registered
1932
CI & Pgengug4Hj8 8er A.'42
Series B
1942
Series C 3Hjs
194»
Series D 3 Hjs
1950
Erie & Pitts gugSHjs B.1940
Series C
1940
Bdge gen gug 4 Hjs 1945
P C C cfc St L gu 4 Hjs A. 1940
Series B guar
1942
Series C guar
1942
Series D 4s guar
1945
Series E 3H2guarg
1949
Series F 4s guar
1953
Pitts Ft W<fc C lat 7s.. .1912
2d78
1912

102
10834 107
10734

Dec '05
93% Nov'05

J-J

M-S
F-A
M-N

Gr

J-J

98

108%Aug'03

A-O
M-N
J-J
J-J
J-J

96

Feb '06

119% 122

Jan

'04

96%Jan'Ot
9834 Apr '04

96
96
102 Hj

A-O 109% 111
A-0 10834 111
M-N 107
M-N
98%...
F-A
J-D

109%
.

92

96% 96%
109% 112%
109% 112%

109H,

109 Hi Apr '06
112HiJ'ne'05
103HiDec'05
92 Hi Mar'06

92% 94%

127%Oct' 02

J-J
J-J

1st gug 4H2S.. 1935 M-N
F-A
ex lat gug 4 Hjs 1941 J.J

Hi

9S%Dec'0o

F-A

M-N
1919 M-S
1943 M-N

118
119
107

105

Apr'Ob
Apr'04
Dec '00

118

118

95

101

lll%Sep'04
SIS Hi

Aug'03
99

95%

96H;

lUli

95% Sale
98% sale

95% 105%

104 "4 Oct '05
110 Jan '05

Mar

lUISCELLANEOUS BONDS—Continued on Next

9234

97

97% Apr '06
119

RR lat real est g48.1923

R<fe I

91%

91Hj Mar'06

96

A-O 113%,
A-O

/a912 A-0

3d 7a

Penn

106^4

D R R R & Bge 1st gu 4s g.'36

104Hj104Hi

17

'05

75
101

76

lie
110

Cl<fe
....

lOli^

105% Oct.

109 Hj Feb '05

114
108

MN

Apr '02

105 Nov'05
105 Oct '02
104 Hi Feb '06

A-O

124

cfc

Nor<fe South 1st g 58
Norr& West gen g 6s

Consol gold 5s
Consol gold 4s
Convertible g 'AHa
1915 J-D
Convertible gSHis
1912
AUeg Val gen gu g 4s. ..1942 M-S

103»g

J-J

M-S
F-A

iil\t

105 H> Fob '06
102 Mar'04

J-J
J-J

Feb'Ob

M-N

<fe

. .

FA

lOOH.
»«

<fe

N&G

A-0

1998 F-A

1936
1936
Beech Or Ext Ist g 3 "is bVJUl
Cart & Ad lat gu g 4s... 1981
Cleart Bit Coal lat a 1:4s. 1940
Gouv&OswelstgugSa 1942
Moh & Mai 1st gu g 4s. .1991
N J JunoR gul8t48...1936
Pa 1st con gug 48 1993

112
103
118>4.

lor.'j

N H Derby con cy 5s.l918
N Y & North See N Y C H
N Y O W ret 1st g 4s. .ffl992
Regis §5,000 only
ol992
N Y Put See N y C H
N Y & R B 6'ce Long Island
N Y S W 6'ee Erie
N Y Tex & M See So Pac Co

X

J.J
J-J
J-J

A-O

97%

125H.MarOri
139 Jau'U3

MS

Bat C<feSturl8tgug38.19«9
Harlem g 3Hja...2OO0
Registered
2000
North l8t P58...1927

98
98
96

9HH,

H»

97

125

N Y&

Registered

Beech Creek lat gTig4s. 1936 J-J
Registered
2d gu gold 5s

l;i51

99

99

1

Htgit,

101% Feb 'OO

A-O 1033,
Sink fund subsidy g 6s.. 1910 M-N
Penn Co— Guar lslg4Hjs.l921 J-J 107

J-J
Registered
1997 J-J
1934 M-K
Debeu g 4s
iiake Shore coUg 3>2S...1998 F-A
1998 F-A
Kegisiered

Mich Cent coU g3"<28....1998

4s
Hegi.slered
J L<fe S l.stg 3Hi8
1st g 3Hj8

Panama

W

NewH&D fieeNYNH&H

-M
1940 J.J
1940 J-J
1931

W

'05

Apr'06
May'06

113HjApr'06
95 Mar'06
101 Nov'04

"98'^lio6'

105

M

McM M W
&

MS

1931 M-6

Wash Cent Ist g43
1948 Q-M
Nor Pao Ter Co 1st g 6s.. 1933 J-J
91 Hi 93% Nor Ry Cal See So Pac
<dS\ 9B
Nor Wis See C St P M & O
107H2107H2 Nor & Mont See N Y Cent
113 115% OInd &
See C C C & St L

Nov'Oo
'-2

Hj

101 101
120 125
103HJ 107%
104^2 107 Hj
103 108 Hj
91
94Hj
94
99

92 Hj
92 Hi
94
95
110 Mar'05
103 Apr'06

103

96I4

Mohawk & Mai

>S'eeNYC<fi;H
Monongahela Riv See B <fe O
&
Mont Cent fiee St P
See S P Co
Morgan's
Morris <fe Essex Bee Del L &
Chat & St
Nash consol goldList 78.1913
1928
58
1st
Jasper Branch 1st g 6s. .1923
& Ai Ist 6s. .1917
T & P Branch 1st 6s 1917
Nash Flor Shet Seelj&N
Nat o£ Mex prior Hen 4^8.1926
1951
1st consol 4s

Ist 58.. 1934
l8t gu 68. 1 932

Y

99

lA>w

105% 109
lo«% 10734

105%

<i'H

January

<fc

Apr'06
Nov'Ol

96'4

113

& G Div 1st g48.. 1933 M-N
V I W 1st g 5s. 1926 M-S

10034 102

120

103
86 Hi 923,
10 103 ig 107%
105
88 Hi Apr'06
88
91 Hi
262 8Y
88^4
89
89 Hi
90 May' 06
90
94
108 Feb'oe
107 108

92 H;
94 H.

94

J-J
1945 J-J
Mortgage gold 4s
MobJ<feK C 1st cons g 5s. 1953 J-J
Mob & Ohio new gold 68.. 1927 J-D
Ist extension gold 6s..ftl927
193s
General gold 4s
Montgom Div 1st g 58. .1947 F-A
gt L €& Cairo coU g 4s..el930 Q-F
1931 J-J
Guaranteed g4s
See Southern
<fe O coll 4s

Riv
Verdi

113

lOl-izlOaH. 102
86 "a 871^; S7Hj
105 Sale 104 H2

J-J

Mob & Birm prior lien g 5s 1945

&

Housatonlc

'05

120 FeU'06
113'4Mar'05
114 Apr'06
90 Hj
9 oh,
97 Apr'06

114
92

92

Unified

97% bale

JD
FA

N Y & Har See N Y C Hud
X Y Lack & W See D L & W
N L E W See Erie
N Y & Long Br ^e« Cent of N J
New York New Hav & Hart—

J'ne'05

nils Oct

MK&

1945 IW-S
Cent Br Ry 1st gu g 4s.l919 l=-A
Leroy<feGVALlstg58l926 J-J
Pac R ot Mo Ist ex g 4s. 1938 F-A
2d extended gold 5s. ..1938 J-J

M-S

No

lO?"-,

105%
,

Since

Jiigh

1(1634

i'oa
Hi

Hang*
*<0

<fe

90
91
A-O
Dal& Wa 1st gug 5s. ..1940 M-N 10434
95
Kan C & Pac Ist g 4s. ..1990 F-A
1135g
MoKcfc li 1st gug 5s... 1942 A-O
107 Hi
1942 M-N
Ok lstgu5s
MK&TotTlstg-ug5s.l942 M-S
Sher Sh & So 1st gu g 5s. 1943 J-D 103
106
Tex&Oklalstgug5a...l943 M-S
1906 .M-N lOi's
Missouri PacUic 3d7s
1920 M-N 119 121
1st consol gold 6s
Trust gold 58 stamped. al917 M-S 104 lOiHi
al917 M-S
Registered
.1920 F-A 104 106
IstcoUgoldds
40-year gold loan 48

98

J-J
J-J
J-J
1934 J-J
McKeesA B V IstgGs 1918 J-J
Mich Cent Ist consol 68.1909

Y''

Ex

M
Minn St gu SeeBCR&N
MStP&SSM con g 4 int gu '38
gu
M 8 S M A 1st g 4 int<feM1926
Minn Uu See St P M

105

M-N
J-D
M-N
M-N
A-O
85
R W&Ocon I8teit58./il922 A-O
26%
08we& R 2d gu g58...el915 FA
21
RW&OTRlsl gug 58.1918 M-N
UticacS; Blk Riv gug48. 1922 J-J
9938 N Y Chic <fe St L Ist g 4a. 1937 A-O
Registered
1937 A-O
N Y & Greenw Lake See Erie

NW

1st gold 6s. ..1921 A-0
South West Ex Ist g 7s. 1910 J-D
1934 .M-N
1st consol gold5s
latandrel^nd gold 48. .1949 M-S
Des
& Ft D 1st gu 48.. .'35 J.J

Lait,

AtK Low

Uid

J-D

NY&

771-j

IS

J-J
J-J

RU

O'l

Registered

<fe

Pacilio

KaAAO Rl»tguc58.193H

Mahon

Pitts .M c K
2d guar 6a

Hj

WeelCi
Bani/e or
Sale

ITice

tVidav

May

]

58

12
79',
22', 3><5

S.'8=8.

North See Ch M & St P
Minn & St L lat gold 78.. 1927 J-D 137 Wj.
1909 J-D
Iowa Ex 1st gold 7s

Mil

"-i

IOH9 19 100 Hi 103%
Apr '05
106%
103% io6%

20'e
16'*

79 Hi

Mex Internal 1st con g 48.1977 M-S
191U J-D
Mex North 1st gold 6s
Mich Cent See N Y Cent
<fc

20

11 2

Mai '05
Dec '05
Muy'OO

79^8 Sale
1 ig Sale
16 '•J Sale

2

Sliore lat 48 gu... 2361
KogiHten'd
2361
^shore gold 3His.... 19971
Uegi.stered
1997
Debeiilure g 48
i9j:8
DetMon&Tol 1st 78. 1906

Lake

Muv'Ot;

107
97

96

WcHl

108H2lO8H<
99 101
108 Hj 110
95 '4 961,
117
114

MuVU6

96
114
11514

A-0
anlmttan
1990 A-0
ROMTiHtered
Metropol Kl Ist g 6a. ...1908 J.J
McK'pt cfc B V Hee N Y Cent
Metropolitan El See Man Ky
Mex Cent consol gold 4s. .1911 J-J
1st consol income g 38.01939 J'ly
2d consollncouie g 38..al939 J'ly
1919
Kquip & coll gold 5s

<fc

1

'05
'05
'06

114i» Sep
108Hj Jan
iboH, 100^ Apr'Oi!
108^4 IO81.J Mar'O.'.

<fe

Mid of N J See Erie
MU L. S W See Chic

'4

'4

Mar'06

(ient jroUl 48. 1987
A l8t g4».i8 1945

Coll tr g 410S 1st Ser....l907

1

Apr '05

V20^

IUJOm

STOCK EXCHANGE
•:;«
Wekk KNDiNn May 18
N y Cent & H l{.—( Conlinuf.d
Nor* Mont iHtgii g 58.1916 A O
N. Y.

HifiH

12^ 129
122 '4 122

122', Mur'Od

114

71

Low

Hif/h

109 Mar'O.-)
129 '« Apr'Oi;

Kol(168...1«'2t)

l'J21
Bt LUlv l8t golil68
198(1
2<lKold 38
Atl Kuox <\^ Nor l8tg&8li)4i>
KendPr B(1if«l8t8f g68.1931

Since
Januarti

[Vol. Lxxxn.

BUNDM

Jiani/e

Lait Sale

:S

Bxo
105
129
122 14

NO<fcM

N

Range or

May

Naaliv—f C'ontt7tu<!dJ

<fe

Week^t

fridav

STOCK EXCHANGE
Wkkk K.NuiNfi May 18

N. Y.

Loumv

.

107 Hi May'06

107 H».

....

107H2l08%

I'age

TeleKrapli and Telephone

Coal and iron
Col F & I Co gen a f g 5S..1943
Convertible deb g 5s.. ..1911
Col C & I Dev gu 5s g..l909
Col Fuel Co gen gold §8.1919
Gr Riv Coal & C lat g 681919
Col Indnslst conv 5s gu A. 1934
1st g <fe coll 5s gu Ser B. 1934
Contin'talC Istsf gu5sg.l952
Jett & Clear C & 1 1st g 5s. 1926
2d gold 5s
1926
Kan*
<fe C 1st s f g5s.l95I
Pleas Val Coal lat gaf 58.1928
Tenn Coal gen 68
1951

HC

F

A

Mar'06
91% Mar'06

103

F A
J J

M N 100
A
102%
F A

78

F A

77%

F

A

J

107% Oct '04
102% Apr'06
Sale
78H)

D

J

77%

77% 101
107% Deo '04
107

I)

J J
J J

100

91% 102^4

95% Jan '06

J.J

Comm Cable Co Ist g 48. .2397 Q-J
1918 M-N
Met T<fc T lat 8 t k5s
N Y <& N J Tel gen g 53.. 1920 M-N

94% 96%

102%102% West Union col tr cur 5s. 1938 J-J 109 Hj
Fd and real est g 4%s... 1950 M-N 103 104
71% 88%
MutUnTel s fund 6s... 1911 M-N
73
83%
NorthwTelguf 4%sg..l934 J-J

97

Mar'(i6

109%May'05
105% J'ly '03
109% 109%
104

104

106% Mar'06
103

94% 96%
97

98

107%109%
16 102

105

106% 107

J'ly'04

May'07

102% Oct
105% Oct

103

J

78Hi 144

77

Am Telep <& Tel coU tr 48 1929

102% 105

'03
'05

.TIanuiacturing Sc Industrial

AmCotOU ext4%s

94% 98
91 100%
87
93%
89 H)
109
89% 89%
BimiDlv l8tconaol6s..l91'' J -J
10934 Apr '06
99 103%
104 102% 102%
109 110% Am Spirits Mtg 1st g63..19I6 MS
Cah C M Co 1st gu g 6s. 192 J -0
102 Deo '03
Apr'06
90% 91%
Am Thread lat col tr 4s.. .1919 J-J
91%
De Bar C I Co gu g 6s.l910 F A 101
1944 A-O 1133, sale 113% 114 278 112 117%
103% Feb '06
103% 10334 Am Tobacco 40-yr g 68
V Iron Coal<fe Co 1st g 58.1949 M S 94% Bale 94% 96 78 9134 96Hi 48
84
1951 F-A
78
79'4 64
79% Sale 79%
'NopriceFrlday; latestbidandaskod. dDueJan SDueFeb cDueMar dDueApr ftDueJ'Jy /cDueAug oDueOct fi Due Nov 2 Due Deo iOptlonSala
renn Div

<fe

1st g 6a

cH917

J

A .0

Sale

108

Oct '00
100
110% Mar'06

105
100

9734 101

Hi

AmHidecfc L

110% Amer

1915 Q-F

Ist at g68.. 1919 M-S
Ice Secur deb g6s..l925 A-0

95
91

97

Sale

96
91
89

May'06
933^

L

May

—Concluded—Page

Bond Record

19 1906.]
/*rice
fVitiaii

WeeVs
Range or

Mat) 18

STOCK EXCHANGE
Wkbk Kndino May iS
Penn KK (Continued)
N. Y.

Last

Low

IHii

Fensacola & All Hee h <fe Nasli
Pet) & East <SVe C C C cfe St L.
Peo-fe Pek Uulst g68....192)
^'1921
2d roUl 4'28
58 192
PereMarq— Ch<fe
1920
ilint<fc
bOs
1939
Ist consol eolil5s
Pt Huron Div Ist g 58.1939
SagTus<fc H lst«UK 48.1931
ehii B Jfc
See Penn BK
Phila <fc Heading cons 7s. 1911
Pine Creek reg guar 68... 1932
puts Cui <fc St L See Penn Co

WM

PM

W

1

109

110 >v

A O 113

AO

1121-illS

110%11()'5
110 llli-j

115'2Mar'06
137 Nov'9

115%115%

F-A

J.D
J-0

127'^.

120 Oct
112>2Dec'02
'01

&

&

&

&H

&

120

117

116

,

111

....

May'05

10038 lOOTj 139
100 £ ay'Ob

10034 Sale

94

J 'ly '97

98

Sale

98

99% 102*6
100%

IOOI4

97% 101%

Guaranteed
Pitts

<fe

See B R
Og See

Dec '05
Jan '05

P

Kut-Canadl8tgug48...1949 J-J
See Pere Marq
1st g 4s.. .1947

1064

lOeigOct' 05
100 Feb '06
101»4Nov'01

96

92>iMay'06
122 Jan '06

92 1q 94

Liaw<& AiUron Istg 5s. 199b
1990 A-O
2d gold Os
St L <& Cairo See Mob »fc Ohu'

fit

L Iron Mount See M P
N See Wabash
St L K C
St L M Br See T BR A of St L
St L S Fran 2d g 68 CI B 1906
fit

Mar'05

76
89

82

1940 J-J

<fe

N Y Ceni
Borne Wat &
1941 J-J
Butland Isl con g 4'os
Og&L Cham Istgu 43 g.l94t J.J
Sag Tus & H
t Jo&Gr Isl

109

<fc

cfe

100
100
127
113

cfe

1900
2d gold 6s Class C
General gold 68
1931
1931
General gold 58
St L& S F' RRoon8g4s..'90
Southw Div I8tg5s..l947
Relunding g 4s
1951

100i4May'06
129 125 Feb'ue
113
113
Q^\ 98 13 Sep '05
10214 Aug'05
85 -^i
86 Sale
86
96
96 reb'Oe
1204
126 Aug'05
84 Sale
84'8
84

5-year gold notes 4'<j..l90):
cong 68..1928
C Ft S
C Ft S <fc Ky ret g 48 1936

&M

K
K

M

KG&MR&B
W

100%

M

83% 87 't Tol cfe O G

8038

110
107>t»108

103 12

103%

103%

103

103 Hj Sep '03

10034 103

lOlUApr'Ob

132
138

May'05
134

124
134

13434 Dec'04

lU

,119

GalHarA

S

Utah
109

Oct '05

110

J-J

Va

J-J
J-J
J-J

A-O

1931 M-N

GUa VG<S;Nl8tgug58.1924 M-N
Hous K & W T l8t g 58.1933 M-a

l8t guar 03 red
1933 M-N
H<fcTOl8tg68intgu..l937 J-J
Consol g 68 int guar. ..1912 A-O
Gen gold 48 int guar. .1921 A-O
WacOifeN Wdivl8tg6s'30 M-N

106 ....
105 ....
109 "u....
112

87%

86%

88

101%

101

96% Mar'06
>a

103%

94

101%
95% Apr '06

109

92
973^

96% 97

May'06

L07»8 10934

109% Mar'05
111% Mar'06

ai%lll'v

Jan '05
lll%May'03

110

109

102

95

96%

93%

96% Sale
93 »a 94
92

Jan '03
94

1093,

9934 100 14 100

88 Hi Sale
96
107

"a

SO

107
116

Registered 48

106

Consol conv s f g 53
1935
Int St Pump 10-yr conv. 68 '13
Knicker Ice (Chic) Ist g 58. '28
JLackaw Steel Ist g 58
1923
Nat Starch Mfg Co Istg 68 1920
Nat Starch Co s f deb 68. .1923
Stan Bopo cfe T Istg 63... 194b
Income gold 68
1940

Ua LeathCo8fdebg68..1913

V S Bculty I conv deb g 58 '24
V a steel CorplO-60 yrSs.rf'o:cfe

Registered

Va-Car Chem
'

April 196:^
col tr 58 g..l91'.^

No price

115 =

.117

M-N
M-S

cfe

North See Un

AO

120=8

J-J

J-J

m'

lUSs 115
A-O 110%
J-J

118

111%111%

May'06
107% Feb'06
103% May'06

106

1^.

106

103%105%

11134 Sale

11138

11134

110

11134

109 14

111% Apr'06

111
97

111%

Mar'06

99

98'f

99 14

127% Feb '02

109

10534

98

110

110

119%
117%117%
94% 98%

II5I4

118% Apr '06

118'iill8%
9934
98
113 113

9b

Jan '06
98 3p Apr'06

113

983^

9838

90% Dec '04
116 4,May05
116 May'Ob
116
ll63.i

I14'4ll6
11934

116

Wih

113%116%

11234

114

I13'^116

Jan '06
Feb '03
May'06
Feb'02
Dec'04

11234 11234

108%

105

114 114%
109% 114%

May'05
Mar'06

112%113%

112 14

117
100

106
118

123

122% 122%

Dec '06
114%Jan'06
109% May'06

.

hi

113

121

121
121
12238 Apr'Oti
114% 116

9734

119

9838 Sale

107%

J'ly'OO

109
120

109
Apr'06

9838

112%

122% Sale
93
.116

122%
102
110

Nov'04
109

112

120%
97% 100%

119

983^
J'ly '04

2b

124

14

Jan '06
Mar'06

121%124
102

102

10334 110

106% Nov'04
11234115%

11434 Apr'Ob

111

Mid

Sonthw't 1st gu 58.2003 J.J
l3tgold63
1939 M-M
2d gold 5s
1939 FA
Debenture series A
1939 J-J
Series B
1939 J-J
Ist lien equip s fdg 58. .1921 M-S
1st lien 50 yr g term 43.1954 J-J
Det cfe Ch Ext 1st g 68. .1941 J-J
Des Moiu Div Istg 48. .1939 J-J
OmDiv l3tg3%8
1941 A-O
Tol cfe ChDiv 1st g 48... 1941 M-S
St Chas Bridge 1st g 68.1908 A-O
Wab Pitts Term 1st g 48.1954 J-D
2d gold 48
1954 J-D
Warren See Del Lac cfe West
Wash Cent See Nor Pao
Wash O cfe
See Southern
West Maryland Ist g 43.. .1952
1952 A-O
Gen cfe oonv g 43
cfe

W

XO

NY

P Istg 63. .1911

May'04

107%Mar'00

107%

107

Apr'06

95^,

93% Apr'06

91%

96
90

Mar'06

89

80%

99%
9334

90

80% »4%

80%
y9%Nov'03

110% 113 %
U0% Apr'06
03 Jan '06
93
93
104% 104 266 103% 10634
102 106%
103% Apr '00
148 Apr'Ob
146% 160%
146 -i 149%
149i2Apr'0b
10038 102
101% iOl"-.
,

1-2

123

123-4

118^4 126

118%

118'i;

114

95 ^

96

'8

9434

96% Dec '05

118%
97%

105%105%

105% Jan '06
114% Apr '02

102% 105

.103% 102% Feb'06
10138 Kov'05

112% Apr'O'.
...
113% 1133,
10434105% 104% 105
90
93%
94

115

113»8...

79
101

Sale

76%

80

108

112% 116%

1

104

Dec '05
Mar '01
109% Apr'06
97
85

95% 98%

84%

93
108
84

86
37

86
73

Sale
Sale

84%

36%

86

82% 90%
34% 41%

85

36

87
73

7mj

20-year equip s f 5s ...1922 J-J
WilkQe <fe East See Erie
cfe Sioux F See St P
cfe
Wis Ceut 60-yr Ist gen 48.1949 J-J

111%

110

9434

8S%
84
69
76%
116% 118
94% 97=8

Apr'06

30

95

J-J

LE Istg 58... 1926 A-O
Wheel Div 1st gold 5s.. 192b J-J
Exten cfe Imp gold 58. ..1930 F-A
ER Ist consol 48
1949 M-S

85%

May'05

109% Mar'OH

30

93
30

93
110

Nov'OJ

85% MnyOb
97

109

87% 95
72% 85

lb
2396

102
93

109=8.

114

16

116% May'Ob

Wlieel'gcfc

May 'Ob

110
114

Aiig'Oi

30

3i

114

Jan 'Ob
112%Fob'0i

114

1

22% 112%

lll%Aug'05
88 % Sale
93

88%

89

13

87% 93%

37

90% 95

102% Deo '05

M M

WU

119

111% 111%

117%Jau'ot;
95
96

98
105
123
110
113

111%.

W
See South Bv

cfe

119

105

10534

Pacitit

B

See

1

73

N Y Ceni

Black

cfe

1

111 '4 Jan '06
110 Apr '06
117 '4
ill^,

114% 113%

1st g 58. ...... ...1935 J-J
58. ..1935 .^-O

WVa Cent

106

lll%Jan*06

93

Sale

91

92

102»4

103

BONUS—Conclu«lc«l.
Aliscelloneous

99% Sale
79
87
109
95

103%

,

88
9641
Sale

100
103=4 ......

85
7»

DO

1948
102% Adiuns Ex coi tr g43
80
79%
5 78% 8334 Am Dk cfe Imp 6a ib'eeCentNJ
78% Mar'06
78% 78% Am S8 Co of WVa g 58.. ..1920
87
89
120 81
89% B'kl'n FerryCol8lcon8g53'48
ChicJccfeSt Yardcolg68.1915
108
108
1 107% 110%
Det Mcfc Mid grin comes.. 1911
963»
96% 6 90 100
103 -4 103 H,
6 10136103% Hoboken L cfe 1 gold 63. ..1910
Mad Sq Garden Ist g 58. .1919
97% Oct '06
103% 104
12 102 % 10834 .Man B6h H cib Lgen g 48.. 1940
9312 Nown Ne Ship <fc D D 58 dl'MO
93% Apr'06
85
N YDock 60-yr l8tg 48.. 1951
75 May'Ob
77
73

99% 155

99

1951

DlstUSecCorconv let g 58. '27
Xnt Paper Co Ist con g 68.1918

...

J-J

J-J

Wabash

RlniiulncturinK <& liiduHtrinl

Con8olTobacco50-yrg 48.1951

963^

92

A-O

J-J
West
cfe Pa Istg 58.. 1937
Gen gold 3-43
1943 A-O
Income os
dl943 Nov
87% 89
99
99% West No Car See South By

100",

106

103

9738
963b

92
109% 110
99 10234
98% 98 S.

Mar'06
Feb'06

99
106

94%
91%
92

98% May'06
88%
S8%

993

98':a

141

Apr'06
109% Feb '06
92

lUISCKliI.,ANEOU.S

Cent Leather 20-year g 58.1925

J-J

J-J
J-J
J-J
J-J

1955 FA
Vandalia consol g 4s
era Cruz c&Plst gu 4 %sl934 J-J
See Mo P
Ver Val Ind cfe
Virginia

A-O
87^1 873M-N 10034 loiia
M-S
95
"97" 100
J-J

A Istg 6a. .1910 FA

Mei<fe PaclstgSs

95
96
117%....
98
ys
116 118

M-S

N

"li

Utica

M-S

A&N

'34

106 Hi
117 'u Sale

".J

116i8Ax)r'01
111 Mar'06

102 % 1 02 %
87 3k 90
0434 05 %
10638 107
102
102
113 11334

J-J

"ij

May'02
LIH4 Apr'06

118

l08-'e J'ly '05
'.

112%112%

80

140

M

gu 43

10534

1

Jlig/i

118

-Vpr'OO

106

112%J-an'06

May'06

107
102
1 13

117%.

119 Mar'06
121 Ja Oct '06

97

84

10614 10834 IO6I4 Apr'06
13334
13334

J-J
Ga Car <fc No IstgugSs 1929 J-J
Seab<fc Boa Ist 58
1926 J.J
eher Shr <fe So See
K&T
Sil Sp Ocu & G See Atl Coast L
Sod Bay & So Ist g 58
1924 J-J
So Car <& Ga See Southern
So Pac Co— RB 1st ref 48.1955 J-J
Gold 48 (Cent Pac coll)./cl94y J-D
Registered
A:194b J-D
Wl8tgttg68....1941 J-J
Cent Pac let ref gu g 48 1949 F-A
Registered
1949 F-A
Mort guar gold3'a3..fcl929 J-D
1st

...
...

Si

1935 J-D 108 109
96 ....
Kan cfe Al Istgu g 4s
1990 A-O
95% 9934
92%
Tol P cfe Wist gold 48.. ..1917 J-J
84
86
89
TolStLcfeWprlieng3%3.1925 J-J
7838 82
81% ....
1950 A-O
50-year gold 4s
99
Tor Ham cfe Buff Ist g 4s./!.194l' J-D
106% 109
Ulster cfe Del 1st cong 53 192b J-D 111% 113
lstreftmdg4s
1952 A-O
13334 l'J7%
Un Pao BB cfe 1 gr g 43 ...1947 J-J 104% Sale
Eegistered
1947 J-J 103 "y
110% 112 Si
1st lien g 48
1911 M->J
Beglstered
1911 M-N
109% 111
Ore By cfe Nav con g 43.1946 J-D rlOl
102 104^4
Ore Short Line Istg 63.. 1922 FA 123% Sale
Ist consol g 53
1946 J-J 118
101% 101 14
9538 953
1929 J-D
Guar refund 4s
Registered
1929 J-D
1908 J-J 106
Utah cfe Nor Ist 78
134 136
Gold 63
1926 J-J 109
Uni
J RB cfe C Co See Pa BR
118% 119
Utah Central See Rio Gr We.s

9534

Ao Low

129 4!
118
106 Sep '04
113 Jan '01

J-J

M-N
M-K
M-S
M-S
1926 M-S
1936 M-a
1936 M-N

W

Hiiik
N(>v'04
Feb '06

A-O
M-N
M-N

WMinWcfcNWlstgu5s'30 F-A

W

L,

W

Low

Sinc''

Jan '06
'4 Feb'06
114% Dec'04
119 Jan '06

M

M

Through St

105

J-J

A-O 100%
A-O

1994 J-J

E 5s

Janvar\i

I

General 63
Guar stamped
122 122
Ist cy gu 43. .1924 F-A
O cfe
WestNC 1st cong 63. .1914 J-J
S cfe N Ala See L cfe N
Spok Falls cfe Nor 1st g 63.1939 J-J
Stat Isl By 1st gu g 4%s..l943 J-D
Syra Bing cfc N Y See D L cfe \V
102 102% 'Per A of St L Ist g 4%s..l939 A-O
1894-1944 FA
100% 10234 X 1st con gold 5s
125 127
Gen refund s i g 43
1953 J-J
Bge Ter gu g 5s. 1930 A-O
111%114
St L
98% 98% Tex cfe N O See So Pac Co
Texcfe Pao 1st gold 5s
2000 J-D
2d gold ino 53
92OOO Mar
67 84% 88
1931 J.J
96'4 96
La Div B L 1st g 5s

133

194fc
192i;

N

JJ

Ohio coll tr g 4s.. 193ft
Div Ist g 4%-58...1996
1951
St Louis div 1st g 48
1918
AlaCen R 1st g 6s
1948
Atl& Danvlst g43
1948
2d 48
Atl & Yad 1st g guar 4s. 1949
1916
Col <fe Greenv 1st 63
E T Va cfe Ga Div g 63. .1930
1956
Con 1st gold 5s
193s
E Ten reor lien g 5s
1946
Ga Midland 1st 3s
1922
GaPac Ry Istg 68
Knox cfe Ohio Ist g 6s... 1925
1915
Rich cfe Dan con g 6s
1927
Deb 5s stamped
Rich cfe Meek 1st g 4s... 1948
So Car cfe Ga 1st g 5s.. ..1919
Virginia Mid ser C 68.. .1916
Series D 4-5s
1921
Series

lianqe

Range or
Last .sale

101%
10i% Mav'Oi)
8»%Sale 8734
88%
105% IOjS. Mar' 6

J-J
J-J

Western Div Ist g

9534 Sale
85 . ....
80 Sale

193Gray'aPtTerlstgTigSs 1947
St Paul <& Dul See Nor PaciHt
ife Man 2d 68...190y
St Paul
1933
Ist consol gold 68
Registered
1933
Reduced to gold 4'28..1933
Registered.
1933
Dakota ext gold 68
1910
1937
Mont ext 1st gold 48
Registered
1937
EMmnlsldiv lstg58..190b

A

102^4 ....

General gold 63

Consol sold 4s

1937
Registered.
1937
Ist guar gold 5s
1937
WiU <£ S F Ist gold 53..193t
See Nor Pac
fit P <& Nor Pao
St P <fc S'l City See C St P
<feO
8 i'e Pres & Ph Ist g58...194i
8 & A P See So Pac Co
8 F <& N P 1st sink t g 5s.l919
fiav F <fe West See Atl Coast L
Scioto Val <fe
E See Nor <fe
Seaboard Air Line g 4s... 1950
CoU tr refund g 58
1911
AU-Birm 30-yrl8t g 4s.«1933
Car Cent let con g 48. ..1949
iriaCen<fc Pen Isl g 68.191b
Ist laud gr ext g 5s ...1930
Consol gold 58
1943
Ga& Ala By Ist con 58 01943

h,

92% 94%

•95

Istgu 58.1929
St Ijouis So See Illinois Cent
1st g 4s bd cti;8.198t'
St L S
2d g 4s ino bond ctts...pl98;'

Nor Div 1st gold 43
Minn Union 1st g 68
MontC IstgugGs

102 la Jan '06

101

99

.....

lli'^s

A-O

Mob &

120

8
Asi

124

J-J
J-J

Mem

118

&

Boch

T 1st 73. 191 A-O

gu g6s

Registered

Mar'06

98

II5111.

.

Jiid,

Tex<&NOSabDivlstg6s.l912 M-S
1943 J-J
Con gold 5s
1994 J-J
Southern— 1st con g 53

&

W&

(Continued)

.

iiosj llO^aJau'oe
iius; 110 Apr'06

M-H

i'ridaii

Mai,

1920
1907
1938
Guaranteed gold 5s
Ore & Cal 1st guar g 6s. 1927
S A <fe A Pass 1st gu g48. 1943
So P of Ar gu Ist g 68. .cl909
cl910
Ist guar g 6s
S Pof Cal Istg 6SC&D 1906
Ist g 63 series E cfe F...1912
1912
1st gold 6s
1937
Ist con guar g 58
1905-1937
Stamped
S Pac of NMex Istg 63.. 1911
So Pac Coast 1st gu 4s g. 1937
l8t gold 6a
Cal Ist

10034 Dec'O.T
109 Apr'02
II2I2 Apr'OH

---

southern Pac Co
Morgan's La <fc

Noof

'04

128'«Jan'05

Q-F
M-N
J-D

PitlsCleve&Tol 6ee B O
Oil Hee Penn Co
Pilte Ft
1922 J-J
Pitts Juno 1st cold (is
Pitts ct L Erie2(lg 5s...al92>- A-0
Y AeeM Y Ceu
Pitts McKees
Pitts Sh <& Ii K 1st g 5s.. .1940 A-O
1943 J-J
l8t consol gold 5s
O
Pitts <fc VVeot See B
Pitts Y
Ash Ist con 5s. 1927 M-N
1997 J-J
Reading Co gang 48
1997 J-J
Kegistered.
Jersey Cent coU g 4s.. .1951 A
Benaselaer
Sar See U
Dan See South Ry
Bicli
Bicli <fc Meek See Southern
Rio Gi
Bio Gr West See Den
Kio Gr Juno 1st gu g58...193ti J-D
1940 J-J
aiogrSo 1st gold 4s

&

Hiah No Low HigH

10 1^ Sep

Weelc's

STOCK EXCHANGE
Wkkk Endinu May 18

N. Y.

Since.

llO'iiFeb'Oe

PhilalJal&W lBtg4s..l943
Bun <& Lewis 1st k 48. ..1936 J-J
U N J KR & Can gen 4s. 1944 M-S

BUNlirs

Jiange

Janvartj

.^aie

U43

4

'(.

Dec '06

45
134

109% Sale 109
97^Sale 96%
tta's Sale
97%
98\Sale 973,

109%

1%

Mar'06

100

Friday; latest bid aaj asked

9634

100
thlfl

97

week.

;3

9534 100

10

96<^ 100

10

98%

109>v

05% 99%

"v

98

100

63 107

2H)

100

oDueJaa

•,,

M-S

102'4 103

M.N
F-A

47
"Yo"

M-N
M-N
M-N

MS

95

Sale

Due

.May

i/Duoj'ne

/i

Feb'Oi

95
99

May'Ob

May'Ob

Due

95%

100% Sop

St LTerCupplesStat'n.* Prop
Col8tg4%8 5-20 year.. 1917 J-D
S Yuba Wat Co con g 6s.. 1923 J-J
.Sp Val Wat Work.s Ist 68.1906 M-S
U S Bed cfe Kef Iv s t !r 68.1931
»•

J'ly '06

J-J

FA

104«»

46% SS
76" *78'

Feb'06

48
103
70
50

44

J-J

AO

Provident Ixian Soo4%8.l921
St Joseph Slk Yds Ist 4 %8. 1930 J-J

101%
& Due Fob

102

1003. J'no'02

112

21

j>

98

05

103

99

J'ly '04

113% J'ly'OO
101% 101%
J'l/

95
99

'06

Due Not »OptlonSal«

k

^

.

CHICAaO STOCK EXCaAN&E-Stock

.
.
.

Record-Daily, Weekly and Yearly

8TOCKly—BiaH&ST AND LOWEST BALK PRICES
Mondav

Man

I^utdav

14

15

Man

12

May

16'

Hay

fYidav

ThUTtilay
May 17

WedTiestlay

J{ang4 lor Ytar

SaUt

CHICAGO STOCK

May

for PretiotU
Year (1905)

Wetk

KXCUANUE

18

Hanae

1^*06

0/ tht

HigKeMt

lyowest

Shnre-

Hig'iet}

/A>weMt

Ua.ll roads

"7'

"•e'li

•23

25

24

bb\

5Sa,

6tf

66 V,

6»,

6^

•6

Giv

90\
•27

•100
20

5638
•3'a

24
67
6

eS'V

32
Bl
94
30
101
28

'12K

'li'-i

a;89Hi

8934
>27Si

8»><j

vi7'2

27\

61

"a

61

8«34

f9

"a

28

•24

2534

69

•96" "94"
•28

27

89
27

•^8

67

»v
>-.

Do pref
Kans City Ry
Do pref

Ll

100
100
100
100
100

" 6"Mtty
"ii)0
0,388
i.On
4

10<i

1,01.

100
W S Elev..lO0
pref

401

<fc

. .

676

Metropol

301

30

S5
25 "a

Marl 6 200

165

100

68>i
Do
100
North Chic Street.... 100
25 4 Northwestern Elev..l00
Last Sale 60 14 Apr'Oo
Do pref
100
!i4>a
95
95
94 Si South Side Elev
100
29 30
27
27
Streets WStable C L lOU
Last Saie 100
May'OU
Do pret
100
28
31 >2
314
3m, West Chic Street
100

68
68
35
32
•24 H> 27

68
32
27
63
95

"a

93 7g
•28
30
•99 101
-25
28 Hi

30
101
28

•

8934
27^1

i-934

28

•68
•30
•24

Ky

Apr'Oii Chic City

Chic Pa«n Ky
Y/ai't Sail 6"'^""May''o'6 Chic & Oak Park
•22
25
•22^1 26
Do pref
5734 69
68 >a
58*4 Cliicafto Sabway
Chic Union Tract

"31>i"62"

90V

IIOS4

•27
28
•U8
69
32
32
-24 Sj 27
•68
64
•90
92
•28
30
•99 >< 101
27 -a 28

LaitSalr 155

"•6
O"'-^
23 '8 23 'k
5634 58

•23
25
61 >a 61k

62
91
28

62
67 'e
32
•25
•69
•91 14
•28

150

•150

•160

•150

950
100

"69V
1

Yfi'ii

Jan 6 180

"
2

'i'>^T'«i\)\i

22

April

441a

Mar
May

28"MJan 2
59 Mayl'i
13 14 Feb 20

538
121a
54^1

!
2

Jan 206 Oct
"4"j"ly " 7»iJaa
16 J'ly 28 Deo
40 Oct 87=4 Aug

Ma) 18 46»4Marl2
Jan 2 6S>,Feb ;
88 "a April 931a Feb 8
2'>
Apr V 2938 Feb 20
66 Apr 30 72 Is Jan 13

Mar 14 85 .Mar 12
May 5 281a Feb 23
OOUAprll 68 4 Mar 1

25
24

89
27
98
23

la

Apr oil 97 Jan
Mayl8 30i4Mar
Jan 26 101

3
2

Mar2'/
Feb 19

Apr 10 60

13 'g Feb
61
Feb

eisJ'ne

26 J'ly
30 Jan
82 la Jan
20 Jan
59 la Jan
55 J'ly

Sep

60

93 14 Sep
28 4 Oct
73I4 Sep

Feb
Deo

99

Maj 26
Mar 68

21

60

90^MBJ
27 Aug

Oct

Aug

100

30 Sep
Dec 10314 Mar
Feb
J'nf 72

96
40

Miscelln.neoUB

S^

8v

6414

64 14
125
136

•
•

66^^

38
•108
'68

125
135

•

67
106

5tj3,

633,

7=4

83^
63^4

123
136

123

63 "a
xV.Vi

•24
•38
*108
•66

38
112
60

38
•108
'66

28
40
112
60

63

-7^

734

62 H)

62 "a
125
135
57
107

7^8

"a

121

64
121

•120

130

•56
•105
Last Sale ^8
40
40
40

112
61

LastSale 60

56^4

'b>i

40

Last Sale lOS

Jan

-i"

"i" '"iK

"'Lh>

-6

•>6i4

63,

7

•vf—
*6i4

"'i

*%^

7

7

150 150
149 150
54
52
121 121
119 119
•117 119 •116 119
• 108
108 108 *109 1093, •109 110
1 10
125I4I26I2
128Jai29iv 126 Hz 129
127 127
•62
53
6238 52
62 "a 53
62'2 52'i
180

•145

Last Sale 16
Last Sale I
Last Sale 6I4

i'H,

145

150
65
122

•120
•108
124V
123
53
52 "a
62 H,
Last Sail 52 14 Nov'05
Last Sale 80
Feb'Ot
LastSale I?
J'ne'06

LastSale

6434

c6
117
90
120

6434

116

117
90

•88

"6T"64i4
115
90

115

90

•

"'5i''^"iii"

115
91
121

ioo^,'

*110

120
103

125

106^8107"
120

102

•110

102'..

Ho

120
102

Co

100
100

pret

"63''^

88

90

'^120
534

100
Pneumatic Tool. 100
Telephone
100
Title & Trust... 100
Diamond Match
100
lUinois Brick
100
Knickerbocker Ice. ..100
Do pret
loo
London & Chic Contr
Manufacturers' ITuel
Masonic Temple

MU&ChicBrew'g

Do

Apr 19

2

May 11

64

Jan 13

Jan 11
Feb 28
Jan 23
Jan 25

''22i

36
108
58

May

7

"ibo 1683eMayl8
16 Feuli

Mar

1 1^8

6

Mar

1

6i4Mar23
7
"215 145 Apr 26 165

ti

6

Jan 16

j'nt

34

6

J'ne

63
Apr27 139
May 3 118
Mayl7 147
Apr 26 71=4
2

"47" Jan 17

59=4 Sep

105 la

Mar

40

Jan

Aug

112
70
150
10

Oct

Mar

Jan
Jra
7
Jan
172 Feb
58 14 Deo
143 "a Feb
118 Dee
1

Aug
Not
Not

145
67
42
75

Oct

"4*7

May 10

'4 Jan 31 '44 "a Mai" "48"4Aug
2i2Feb 3
Jan
214OCI
2
Mar 7 19 Sep 23 Oct

100
100
100
100

385 62 May '^ 71 Feb
170 113 "a Jan 4 1181a Feb
52 78 Jan 5 95 Mar
84 115 Feb 21 122 13 Mar

6 52=4
5 110=4
3
41
9 110

Woven Wire Fence

Swm.&Co

8=4

Feb 15 153 Jan
Feb 9 32 Ja'n
Jan 15 125 May
Jan 9 95 Apr
Feb ; 134 la Feb
Jan 23 55 J'ne
11 Feb
"79'8Feb2b "so" Feb 28 63 Feb

May

49
215 lol
103
l,1\b 123
63
50
9

1^8

pret

Do pref
People's GasLtfe
io7""

'

14i«Apr
73 "a Apr
110 Deo
134 Deo

Jan 20
Jan 25

May

49 101

50'

Dec

60 Jac
76 Jan
136 Jan 17 125 Feb
5734 Jan 3
38 Jan
109=4 Apr 4 98i«Jan
28 Apr 24
40 Feb 6 35 Oct
108 Jan 25 105 Mar
64 Feb
60 J'ly
168=8 Mayl8 1481a Feb
16 "a Feb 23 10 Jan

72

Feb 9 128

6834

65 115
5 130

"'Hi 2l34Mayl6 23

National Carbon

12034

May'05 Page

903

1

Edison

pret
"63 i^ National Biscuit
II4I4
Do pret

'93'i"y3'C
106 "a 107
iof"
115 120 •120
103 103
lOlHl

io6"'^io7"'

102^2

ioe"

105^8 io 614

oc

Do

11414

Last Salt

•110
•101

May' 05

2^8

113^)11414
90
90

64^4

-a

.....'.

120^4 120^4 118''-4l20

Dec '04
May'Ot

2l"4*'22"
•63
•114

Do

Clue
54>v Chio
124 Chic
109 Chic

Last Sale y
Last Salt 47

65
110
•88
120

'06

150

110
125

123
-52

'fc

"2*2" "22"

Booth (A)

7i4May 8

1,54^

17

<fe Chic Canal & DlOO
168\ Central Trust Bank.. 100
Mar'06 Chicago Auditorium

•51

107

100
100
100
100
100
100

pref...

Apr'Ot. Chic Brew'g<fc Malt'g
Apr'06
Do pret

145

•51
122

>•.

Do

May'Ot Cal

leS'-'e
i".;

American Can

Amer Badiator
Do pref
Amer Shipbldp
Do pref
Mayoe Amer Straw Board

"66i4"56K

106
28
40

106
•24
•38
•108

100
2ri

63 »i
123
1H2

!r5G^4

571.1

24

28
39
112
60

*

734

64 14

£4

5

CkelOO "150

100
The Quaker Oats Co. 100
10112
Do pref
100
Union Bas & P Co . 100
Do pre!
100
Unit'd Box Bd <fe P ColOO
10=4
Do pret
100
3834 Western Stone
100

130

Aug 67=4 Deo
Aug 120 la Mar
Jan 80i4Deo
Jan 120 J'ne
5=4 Mar
Apr

"9*3

'4 May i"'/ "9'3i^M"ayl7 "99»8M:ay
740 101 14 Jan 17 109iaMarl2 101 Dec
2I1. 115
Maylt; 152iaJaji 5 46 Jan
302 101 May 8 106=4 Feb 15 861a Jan

Apr
Jan

110=4

114

165 Deo
109 la Not

. .

"is;
11

ll^i

ll"*

UH.

40

»3

•38

'"iii

38

39

•i^""i%

*i=^""i^8

11
•37

11

U

11

10 'a

1034

10»8

38

•37

38

3734

39

37

"a

"53tj

660
791

"li^M'ay 2 "234 Jan 12 "'i^J'iy "'iJiiApr
10 May 1 1714 Jan 20
8 Aug 16 Deo
37 la Jan 20 42 Mar27 23 Feb 41 Aug

Mining

LastSale 5^8
LastSale 36 -a
LastSale 35\
...... "I...

"li'^'iik

Mar'Oe Adventure Con
26
Mar'06
Mar'06 Bmgham Con Mining. 50
H[f\c.k MfiTmt'ftin

LastSale 14^"' Mar'06 Daiy-West
LastSale 85h Feb '06 No Butte
LastSale sag
Mar'06 Shannon

Chicago Bond Record
iiUNUS
^S,

Bid

Amer Biscuit 68
1910
Amer Strawboard ist6s..l9ll
Cass Ave <feFG(StL,) 5s. 1912
of Trade 4s ...1927
It 6s
Consol Br €&
Consol Trac 4 las
1939
Edison debent os
1913
1st gold 5s
/i.1926
Chic Auditorium 1st 5s... 1929
Chic Dock Co lst4s
1929
Chic No Shore Eleo 68
1912
Chic & Mil Elec Ky 5s ....1919
Chic Pueum Tool 1st 5s .al921
Chic Kock I & Pac KK 48.2002
Collat Trust g 5s
1913
Commonwealth Elect 58.bl943
IlUnois Tunnel 58
1928
Kans City Ky & L,t Co 68.1913
Knickerb'cker Ice Ist 58.1928
Lake Street El Ist 58
1928
Income 58
1925
Metr
Side El 1st 4s
1938
Extension g 4s
1938
Norxh Chic St 1st 58
1906
1st 5s
1909
Kefunding g 4ias
1931
No Chic C'lty StBy 4ias.l927
North West'n El let 48.. .1911
Ogdeu Gas 58
1945
Pearsons-Tatt 68
1916

Chic
Chic
Chic
Chic

Board

4-40S
4-608 Series
4-803 Series
People's Gas

E
F

L&C

Range

West Chic

St Ist 58
1928
'inuinellstSs
1909
Debent 68
1914
Consol g 5s
1936
West Div City By 4 1*8. . 1932
West'm Stone Co 6-20 08. 1909

Note.— Aecnied interest mas

Low

•

634

361a

Feb 2 6

Mar

',

Feb 2b
14i4Mar29
14i4Mar
15=4 Feb 26
85 14 Feb 23 85 14 Feb 23
6 -a Feb 26
Feb 24
6
934

44=4

1

•;

January

OxUatandSurplus <k
ing
In
Pronts]
1904
Stock

1

Migh No. Low High Bankers National

96=4

Jan

99 '8 100=4
1021a 103 14
101 lOi

Dividend Record

m

1905

|2,000 ,000 $1,087 245
8
34 ,163
None
100 000
Chicago City
102 ,327 8+5
10
500 ,000
fc70 942
Chicago Savings
fc500 ,000
'12'
'12
Commercial National.
2,000 ,000 1.873 ,388
Continental National.
8
4,000 ,000 2,022 ,986
8
50 ,000
2 .93'/
6
Cook Co State Savings
6
12
12
Corn Excliange Kat..
3,000 ,000 3,873 ,740
17 ,482
200 ,000
6
Drexel State
6
288 ,844
Drovers Dep National
600 ,000
8
8
63 ,905 Began busin
Federal National
500 ,000
First National
12
8,000 ,000 6,220 ,865
1112
125 ,663 6+4
10
First Nat EuKlewood..
100 ,000
609 ,47o Priv ate Ba
Foreman Bros B'k'g Co
500 ,000
279 ,443
6
Fort Dearborn Nat
1,000 ,000
6
164 ,982
Hamilton National
500 ,000
Hibernian B'k'g Ass'n 1,000 ,000 1,076 ,449
Kaspar State Bank
200 ,000
52, 665
.

104
103

'06

104
10334

96=4

96=4

!!i;;;iooi«

87

103

la

t

99

Feb

F A

Feb'06

87

87

S4
79

84=4 Sale

85
NoT'04

80

"90'

80 Apr '01
104 la 103 la 103
941a 94 May'06
99=4 99=4
99
99 la May'06
99 Apr'06
100
16 May'O"

93M

93=4 Sale
871a 88

87=4

92=4

95
93
871* 89

88

90
90

,

991a
99 '8

100

.104
107
.

M-N

102 102
J-J ±102 Sale
A-O 101 la 102

J-J

1-.

M-N
j67'aSale
90
95
66

Sole

J-J

A-O
be added to

S3'-2

22

May'O 6
lOOiaMai'Ob
99=4 May'06
100 May'06
100 Apr'06
120 Apr'06
105 Apr'06
...
107 May'06
104 14 Mar'OO
1031a Feb'06
102=4 May'OU
97

J-D

t

93=

92 14 Feb'06

92 la Sale
96
97
100 "a

J-J

J-D
M-N

99 100
98 la 100

Mar'06
Feb'06

90
90

M-N
F-A

1031a 1 05 'e
9OI4 95
99=410014

1-^

all

102
101 la

Not'04

114
67

io2
102

la

67

^j

90 May'06
68 la Sep '05
85 Jan "06
66
65
89 "a M»y'06
96ia*»^u'06

90
90

9214
9214

94=4

89
100 la
99 >a
100
100
120

92 14

100 14
100 la
99 7e
100
100
120

10434 105=4

107

108

IO4I4 10576
1031a 1031a
102 105=8
lOlWj 1033,

Manufacturers Bank..

Milwaukee Ave State.
Monroe National
Mutual Bank
Nat Bank of Republic.

National Live Stock.
North Side State Sav..
Oakland National
Prairie National
Prairie State
Pullman Loan <fc Sav..
South Chicago Savings
State Bank of Chicago.
Stock Yards Savings .
Union Bank of Chicago
Union Stock Yds State
Amer Trust & Savgs..
Central Trust Co of 111
Colonial Trust <fe Sav..
Drovers Trust & Sav..
.

& Savings
Trust & Sav..
Jackson Trust & Sav..
101 la 1051a Kenwood Tr & Savings
Live Stk Tr <fc Sav Bk.
68
Merchants' L'n&TrCo
65
80 101 14 Metropolitan Tr & Sav
Northern Trust Co Bk
85
Peoples Trust Jfc Sav ..
76
84=4 Royal Trust Co
66
891a 961a Union Trust Co
964 961;: Western Trust <& Sav.
WSideTr <& Sav Bk..
First Trust
Illinois

200 ,000

279 ,980

prices.

^

Last Paid

Per
iod

Q.J Apr
Jan Jan
J-J Jan

,
,

Apr
y-J Apr
<4-J

61, ,836
80, ,79u
187, ,634
43, ,965
762, ,103
118, ,764
27, ,710
28, 130
2,210 ,506

y-J .-Vpr
y-J Apr
Oct 16 1905
Q.J .\pr

Q-J Apr

6

12+3

6

12+3

6

6
"8*

14

J-J Jan

'06,

4

'06. 1
'06, 3
5, 1906

Q-J Apr
Q-J Apr

Apr
Jan

8

Q-J Apr
Q-J Apr

5

4
S

Apr
Q-J Apr

6

7"
5

12+4

"is*

'06, 3
'06. I'm
'06, 3

•06, 2
'06, 2
'06, 1>4
'06, a

191' 5.

None Q-J Apr
8

Q-J Apr

Apr
Q-J Mar
Q-J Apr

51a Q-J

6+6

6

12+*4

52 ,442
None
20 ,252 Began Jan 3.
5 ,732 Incor porate
12
3,842 801
12
6
291, 428
6
8
1,606 126
8
36 610

"6

QJ

2. 1905
'06, lia

None

Began Mayl,

6

3 ,994
17 940

ai.

•oe,

8

1138

67 ,424

485 70h
710 172
241 ,98t;

3

Q-J Apr

6

6

4

6,724 561

'06,.
•06,,

Ilk

6

916 6S8
530, 035
1,191, 005

'06 , !»
'06 , 3
•06 lia
'06 •J

ess

J-J Jan
6
Sncce d.Mfrs 'Bk. Mar.
56, ,918 Began busin ess Oct

fc25, ,03-.

2

Q-J Apr '06 3
y-J -i-pr '06 2

18: ,690

1,012, ,457
1.276, ,294
5. ,416

'06,

'06, 5
'06, 5

Q-F Feb

15, ,952

250,,000
20(1 ,000
250,,000
2,000,,000
1,000,,000
50,,000
7^:50,,000
250,,000
250,,000
300,,000
200,,000
1,000,.000
250,,000
200,,000
200,,000
3,000,,000
2,000,,000
600,,000
200,,000
1,000,,000
fc4,000 000
250,,000
200,,000
200,,000
3,000,,000
750,,000
1,500,,000
200,,000
600,,000
1.000,,000
1.000.,000
200 ,000

200 000
Woodlawn Tr&Sav Bk
Includes special dividend of 30% deolared Aug. 10, IViii.

Chicago bond

Dividends are paid Q-J, with extra payments Q-F.
H
Apr. 6, '06 for National Banks and Apr. 7, '06 lor State institutions.
Bid and asked prices; no sales were made on this day.
t No prioo Friday; Ut«at prlo« ttiu ir««k.
aDae Dec. 31. 6 Dae June. ADaeJtCy. k Captt*! and •ani>lui to
^^i^'"*^

U
t

7
7
7

Calumet National. ..

M-N
.MS
M-N
J-D
M-b
M-N
M-K
Ist 68. 1943 A-0
1947 M-S

Kefunding g 58
Chic Gas Ltifc C 1st 58.. 1937
Consumers' Gas 1st 58.. 1936
Mutual Fuel Gas Ist 58.1947
South Side Elev 4 "as
1924
Swilt<jfc Co Istg 5s
1914
Union El (Loop) 58
1946
Union Pacilic conv 48
1911
United Box Board 6s

Ask.

10

NAME

Since

or

Last Sale

99 's May'06
99'8.-102 102 >i 103 14 Apr '06
101 Mar'Ob
103 Apr '04
59"a 59 Dec '05
101 Jan '06
tio2"io3 103 Apr '06

M

W

Mange

iYiday
May 18

15

"200

Mar
Mar
Mar
May

Chicago Banks and Trust Companies

Week^s

CHICAGO STOCK EXCK'Gt
Week Ending may 18

20

534

3612
3534

IH

'06,
'06, 2
'06,
'06, aia
'06. li«

1^

Apr"'66Vi'*
190
d M arch, 1905
Q-J Apr •06, 3
J-J Dec •oe, 3

Q-J Apr

'06. 2

"e

F-A Feb

'06,

"e

Q-J Apr

'06.

Sep
Q-J Apr

'06,

Began boaln

ess

6.

3

l"*

1905
1>«

May

THE CHRONICLE.

19 1906.

Volume

Business at Stock Exchanges

of

TBA2f8ACTIONS AT THE NEW YORK STOCK KXCHAiTGE
DAILY, WEEKLY AND YEARLY

WMk ending

Stocks

Sailroad

May 18
iyu6

Saturday

440,255
1,059,432
1,119,108
860,557
1,001,606
621,204

Monday
Tuesday
Wednesday
Thursday
Friday

Bonds

$1,670,000
3,067,000
2,062,500
2,184.600
2,380,000
1,752,000

$38,485,500
89,533,200
94,877,900
73,903,200
81,938,100
48,587,900

V S
Bonds

StaU

Jce

Bonds

far value

Shares

$153,500
292.000
231.000
3 2 4, 501

"$7ioo6

2,000
1,000

>

243..';O0

429,500

$15,000

No Hudson L H & Pow
A.O
08 1938
HO&IndCNat&IU.lOO

{108

J-D
EleclOO

29
70

Week ending May 18

Bales at
York; Stock

January

1 to

May

Ist 6a 1926

—N

1906

1905

1906

$15,000
1,674.000
13,116,100

Total bonds....

$14,805,100

$8,000
1,326,000
11,625,000

1905

$721,400
39,683,450
279,867,300
$320,272,150

Pas Gaa <fc

$228,900
52,011.400
415.557.100

11N

Pacific

EXCHANGES

Saturday

21,069
67,319
42,008
28,229
26,038
26,348

Monday
Taesday

Wednesday .
Thursda.y
Friday

sales

13,278
ie,684
17,098
19,119
13,921
8,422
88,522

211,011

Total

Philadelphia

Bond
$37,000
42,000
28,000
46,000
21,600
17,000

$191,600

VnlisUd

Bond

shares

Listed
shares

sales

4,874
17,666
18,008
16,236
28,830
16,910

5,288
5,412
13,724
7,843
11,165
5.104

102,554

$15,400
40,100
60,900
52,000
95,000
105,500

48,636

$368,800

Outside Securities
A

Weekly Review

Bid

NEW YORK

CITY
31
Bleeck 8t& Ful F stk 100
92
Tll8tmorl4s 1950 ..J
B'y & 7tii Ave stk ..100 240
H
112dmort 5s 1914 ...J J 103 Hi
Con 6s 1943 See Stock Exch
B'way burt 1st 5s gu 1924 no5
flCenl'l Crossl'n stk. .100 340
lllStM 68 1922 ...M-N ni3
llCeu Pk N <fc E K stk. 100 198
l)Chr't'r& 10th St fatk 100 170
Col(fc 9th Ave OS See Stock Exch

Dry

D K B & B—

108
100
380
100
390
50
102
60

1932. ..J-D
IjScrip 58 1914 ....F-A
Kiglith Avenue stk.iou
11
liScrip 68 1914 ....F-A
1142a&GrStF'y 8tk..l00
lllst gold 58

i2dStM & StNAv..lOO

Tjlstiuort 6a 1910 .M-S
lt2d income 6s 1915 J.J

^li

Consol58 1948.... F-A
JSixth Avenue stock 100
Sou Boulev 58 1945. .J-J
So Fer 1st 58 1919. ..A-O
Third Avenue See Stock
Tarry
P & Ss 1928
XkersStRP. 58 1946A-0
28tli & 29th Sts l8t 58 '96
TJTwenty-Th'd St stk 100
Union By Ist 58 1942 F-A
Westchest Ist 58 '43 J-J

W

M

nio
170
HOO
«107

Exch
{

104 \

ao6
4106
395
5107

BROOKLYN

Ave

Allan

58 1909. .A-O

Con 5s g 1931

BB

W E 5s

<fc

A-O

1933. .A-O

Brooklyn City stock. ..10
Con 58 See Stock Excli

BklnCrosstn 68 1908. J-J
BkuHgtslstSs 1941 A-O

noi
iim2
100
228
list

101
105

BklnyCocfcSub .See Stk Exch
Bkiyu Kap Xrau See Stk Exch
H Coney Is. .fcBklyu ..100 200
Ist cons g 48 1948. .J-J
68 1939.J-J

BrkC&N

Gr St«&New Ist 6s '06 F-A

94
111
100
104

<fe

25
Atlantic 25

6

34
76
105
98

92
145

63
125
92
146
105

Companies

Chicago Edison Co See C hicago list
HKingsCo El L&P Co 100
nsi
98 103
Narragan (Prov) El Co 50

NY & Q El L &PowColOO
Preferred
lOO
U nitedElectric of N J 1 00
48 1949

J.D

i

50
65
60
76

30
50
40
74

Ferry Companies
Brooklyn Perry stocklOO
B& NY Ist 68 1911. J J
N Y & E R Ferry stk. 100
lat 58 1922
M-N
N if* Hob con 58'46.J-D
Hob Fy 1st 5s 1946 M-N
N Y <fe N J 2d 5s 1946. J-J
10th & 23d Sts Ferry 100
1st mort 5s 1919... J-D
HUniou Ferry stock .100
Hist 58 1920
M-N

noo

3
104

65

70

2

90

109
110

45
90
27
93

60
30
94

Railroad

Al<feSus40yr3»2SCt3 See StkE
Chio Peo & St L pref. 100
Deposited stock
2
Street UaiUrays
Ask
Bid Ask
Undeposited stock...
2
Lake St (Chic) El See C hicago Ust
Prior lien g 4 >28'30M&S 100
IlLouisv St5sl930..J<fcJ miii 112Wi
Con mtg g 5s 1930. J&J
79
34
Lynn<fe Bos 1st 58 '24. J-D il08
Income 5s 1930
7
95
New Orl Rys& Liglit.100 3l>., 32 Chic Subway. See Cliicag o list
244
Preferred
80
100
Hlh Delaw & Hudson cou deb
105
New 4'us
90
i 88
4s 1906-16 (w 1) .. J&D 101 h
list
North Chic Street See C hicago list II Fort Worth <fc Denver
108 Hi Pub Serv Corp of N JlOO 100 110
City stamped
73
luO
360
Tr ctts 2% to 60(, perpet
69 H, 70 Id N Y N
& Hartford117
Coll trust 5s gold notes
Con deb 3^28 1956. J&J II312
202
1909 optional
95^4 North'u Securities Stubs 250
M-N i 95
»179
North J ersey St Ry 100
28
Pitts Bess & L E
50 t 34
ast
1st 4s 1948
M-N 5 78 80
Preferred
70
50
Cons Trac of
80
J. ..100
81
Railroad Stcuritiea Co.
no
1st 58 1933
J-D n06'i 1071,
93
111. C. stk.tr. cf8.ser.A'52
105
New'k PasKy 58'30J-J
113
Seaboard Air Line
405
Rapid Tran St Ry..lOO 240 250
98
CoUtr5al907 op... M-S
107
Ist 58 1921
A-O no8
SeaboardCo
6ee Bait Exch
410
25
J C Hob & PatersonlOO
Vaifc Southwestern. .100
70
48 g 1949
M-N i 12h 74
Industrial aad Miscei
105
So J Gas El <fc Trac 100 123 127
70
GugSs 1953
M-S nook 102
Ahmeek Mining
25 t 78
No Hud Co Ry 6s'14J-J nil 115
Alliance Realty
loo
X li.st
58 1928
113
J-J nio
American Can com... 100
T-2
X list
Ext 5s 1924
M-N S102 105
Preferred
loo
X list
Pat City con 6s '31. J-D n2o
American Chicle Co.. 100 175
232
2d 68. ...1914 opt A.O noo
Preferred
loo 103
list
So Side El (Cltic)
See C licago list
Am Graphopho com..lOO 47
X list Syracuse Kap Tr 58 1946 noe^i 107;'4
H7S.
Preferred
loo
X bst Trent P &
5s 1943J-D «103
105
Amer Hardware
100 104
180
United Rys of StL—
Am ice Securities
See Stk E
200
Com vot ir clls
5834 59'-, Am MaltingOa 1914. J-D 106
100
103
84
11 Preferred
100
85
Amer Press Assoc'n.lOO 95
112
Gen 4s 1934.... S'ee Stk Exch list
1
Am Soda Foun com.. 100
173
UnitRysSanFran <S'eeStk Exch list
45
1st preferred
loo
104
Wash Ky <fc El Co.. ..100 40
40^4
2d preferred
loo
107'-.,
Preferred
90 >s 91^4 Amer Steel Foundries100
list
4s 1951
88 "2 89
J-D
.U 6s 1935
A&O 89
107
100 i 28 *31i. American Surety
H West Chicago St
5u 190
108
HCong 58 1936.. ..M-N 61 t6o
j\.merican Tliread pref..
108
Am Tobacco (new) com.. 430
410
Prefd
6'ee Stock Exch
Gas Securities
UO
4s and 68
.See Stk Exch
NEW YOEK
110
Am Typefo'rs com... 100 37
Cent Un Gas 6a g'27. J<feJ noo 104
98
Preferred
lOO
Con Gas (N Y) stk. See St k Exc h Ust Amer Writing Paper. 100
3*5
Conv deb 68 ctfs <SecStk Exch list
26
Preferreu
loo
1031.., HMutual Gas
«334
loo 225 250
58 1919
J.J
113
New Amsterdam Gas
65
HBarney & Sm Car ...100
102
1st consol 58 1948.. J-J noo
102
140
li Preferred
i oo
233
N Y <fe East River Gas—
Bctlil'm Steel Corp... 100
27 Hj
1st 5s 1944
107
J.J no4
87
Preferred
loo
Consol 08 1945
JJ no3 107
CoU. tr. g. a.tos 191 4.J-J 103
108
N Y & Richmond Gas. 100 38 42 Bliss Company com 50 140
list
Nor Un Ist 68 1927. M-N noo 104
Preferred
5u 130
list
llStandard Gas com ..10(1 130
150
Bondcfe Mtg Guar
loo 400
250
llPrelerred
100 155 170
Borden's ComlMUk..lOO 170
97
ist 58 1930
M-N 109 112
Preferred
loo 114

X

list

N

H

113

OTUER CITIES
Buflalo street Ry—
l8t consol 58 1931. .F-A nil
113
Deb 68 1917
A.O SI 06
CUicago City Ky
See C hicagu list
Columbus (O) St Ry..lOO 102 103 -.
Pr6lerre<l
loo 111
Colon) Ry con 58 Set Ph ila list

British Col Copper

OTHEB

Camden Land

Amer

Light <fe Tract.lOO
Preferred
lOO
Bay State Gas
50

116
100

118
101
^4

Binghamton Gaa 5s 1938 } 95 loo"
Brooklyn Union Gas deb
6s 1909 conv '07. ..MS 130
136
Buflalo City Gas stocklOO
6
8
1st 5s 1947 See Stock Exch Ust
Consol Gas of N J—
lat 58 1936
Consumers' Li ii.&
68 1938

5

Butte Coalition Min..l5

CITIES

JJ

Pow—

i

92

95

J.D «108

Gaa
50 tllO
Elizabeth Gas Lt Co.. 100 275
Essex <fe Hudson Gas 100 125
Fort Wayne Os 1925.. J J
44
Uas<& El Bergen Co. .100
65

IIDetroit City

129
49
60

Bid

Ask

6

65
40
70
6

I

2

60
20
60

3

Casein Coof Am com.. 100
Preferred
lOo
Casualty Co of America.
Celluloid Co
100
Cent Fireworks com. 100
Preferred.
loo
Central Foundry
100
Preferred
loo
Dob 6s 1919 op 'OIM.N
Central Leatlier
See
Century Realty
100
CMoeebrougli ivffg Co 100
Chic Piieum "..''ool. See Ch
City Investing Co

UClatUndl B)com....lOO

1
..5

.
f

Preferred
Electric Vehicle
Preferred

Empire Steel
Preferred
IIGeneral Chemical ..100
II Preferred
100
Gold Hill Copper
1
--^,
Greene Con Copper.. .10
Greene Consol Gold... 10
Greene Gold-Silver.... 10

5
5
103^2

83
13

6

10734

Her'g-HaU-Mar,new.lOU
Hoboken Land& ImplOO
1I5s 1910
M.N
Houston Oil
100
Preferred

f

t
f

37
73

06
100
list

International Salt

i

8
62 Hi

179
105
4'Ji-j

00
109
X list
106
105
3

55
10

2*8

1'3

97
25
32
74

106
30
200
8
39
125
90
150

36
75

Ul
40
9

42 H2
100
160
12

32

33
79Hj

3434

36

5

49

noo
70
t

14^8

100
130

Preferred
100
ULorUlard (P) pref ...lOU

69
12

53
109
74
153,

191
60
130
103
155
7214

..lOu

Preferred

94
102
25H»

78 w

Lawyers Mort lusur.lOO 187
50
11Leh& Wilkesb Coal. 50
Lord & Taylor
100 121

loo

7:1'-.

Madison Sq Garden. .100
2d 68 1919
M-N
UManhatt Beach Co. 100
Manhattan Transit
20

15
75

Construe. ptlOO

13

R

3^8
2 '8

295

1134

65

International Silver. 100
Preferred
loo
1st 6s 1948
J-D
Lackawanna Steel... lou
Lanston Monotype
20

Mine Securities
Mitchell Mining

Hj

3S
28Hj

no2

100

5
33.

74
20
7

4
17

5
7'..

10
Coal.. 50

8

50

Mont & Boston Ck)usol .6
Mortgage Bond Co. ..100 100
Mosler Safe Co
100
Nat Bank of Cuba
100
National Surety
100
Nevada Con.s'd Copper.
IINew Central Coal
20
N J Ter Dock & Imp. 100
N Y Biscuit 68 1911. M.S
N Y Mtge & Security. 100
IJNew York Dock
100
UPreferred
loo
N Y Transportation .20
Niles.Bem-Pond com. 100
IJOutario Silver
100
Otis Elevator com
100
Preferred
100
. .

80
125

334

275

Ingersoll-Rand pret.lou
Internat'lBankingColOO
Int'n'l Merc Marine. 100
Preferred
loo
Col tr deb 4'2l922op'07

Preferred

26211,

2^8

2S

loO

Hudson Realty

Monougahela
114

40
82

I0JH2 104

Co-

Ret g 48 52 op 12. ..J-J
Hall Signal Co
100
Havana Tobacco Co. .100
Preferred
100
1st g 5s June 1 '22. J-D
Hecker-Jones-Jew'l Mill
1st 6a 1922
M-s

Mex Nat

5H?

22
70
16
19
8

35
77

GugarenheimExplo'n.lOO

Hackensack Water

'18

5

18
60
13
16

100
100
100
100
100
100

23_

110

130
19
35

lO"*

45
43

Hj

102'-2

190
40
80
t

7

200
45
82
9

120

2K
64
100

3
58
104

Phoenix Securities
Pittsburg Brewing
50 t 2*68 29
49 14
Preferred
50 t 49
Pittsburg Coal See Stock Exch List
5 'a
4 Hi
Pope Manufacturing. 100
70
lat preferred
75
loo
15
2d preferred
18
loo
Pratt & Whitn pref. .100 102
107
Realty Assoc (Bklyn)lOO 165
170
Royal BakPowd pref. 100 110 114
Safety Car Heat& LtlOO 2aO
296
Seneca Mining
t 35
Singer Mtg Co
loO 525 j45

89 »2
200
Southern Steel
i\ Istsf gos 1930optM-N } 92
450
40
Standard CouplercomlOO
list
Preferred
loo 120
list
10
Standard Milling Co. 100
40
35
Preferred
100
1004
79
Ist 5s 1930
4I2 Standard Oil of
N J. .100 617
27^2 Swift & Co See Boston St k Exc
84 Hi
1st 5s 1910-1914.. ..J-J «102
Tennessee Copper
25 t 43 Hi
HTexas& Pacihc Coal 100 65
Ist 68 1908
A.O no5
Title Ina Co of N Y..100 185
Tonapah Min (Nevada). 1 f 19
145
18
TrentonPotterieacomlOO
134
Preferred new
100 100
415
Trow Directory new. .100 45
189
Union Copper.
10
118
95
Union Typewr com.. 100
8
1st preferred
loo 123
33^4 34
2d preferred
loo 121
United Bk NoteCorp..50 t 40
3
5(i f 50
Preferred
66'4
70
United Copper
100
120 136
90
Preferred
100
138
lOo 200
V. S. Casualty
12
17
U S Envelope com... 100 20
65
89
70
100
U Preferred
534
6
US Rub 2d pt ii'ec Stock Exch
22
24
U 8 Steel Corporation79"^ 80
Col trsf 58 '51 opt '11 .. ni3
Stk E xlist
Col tr s f 5b '51 not opt.. ni2
190 200
U STit GuA Indem.lOO 124
440 480
Westchester & Bronx
icago list
Title & Mort Guar Co. 175
116 120
Westingh Air Br.nke..50 (147
108 118
West Elec& Mfg—
96
99
Con 8 168 '31 Op "12 J-J } U7»4
96
White Knob Mln.
Hj
1*4
k Ex list
Preferred
Worthing Pump pref. 100 116
66
60
H3
!

"iz

Dominion Copper
Douglas Copper
Electric Boat

Mackiy Companies

H

Qr'pt <&Lorlmer St Ist 6b
Kinga Co. Elevated
Ist 48 1949 iSee Stock Exch list
Nassau Eleo pref
100
60
75
58 1944
A-O 108 113
l8t48 1951
See St k Exc h lis!
N Wb'g&FlatlstexdHjs 101 104
StelBway let 68 1922.J-J $116 I18>-.i

and Miscel

Consolid Car Heating 100
11 Cons Firew'ks com .100
UPreferred
100
Cona Ry LtgcfeRefrig.lOO
Consol Rubber Tire.. 100
Preferred
100
Debenture 48 1951 A&O
Cons Storage Batteryiou
Corn Prod Ref See Stock

I8tg5sl951

no8
n09
noo

an

Interboro-Metropolitan—
New com. (wh. iss) See Stk E
New pref. (wh, iss) See Stk E
4 "2% bonds (wlu iss) /S';e Stk E
Interborough Kap Tr. 100 227
Lex Av & Pav^ F 5s See St k Exc
Metropol Securities See Stk E.
Metropol Street Ry See Stk E
Ninth Avenue stock. 100 170
Second Avenue stocklOO 198
TJlst mort 53 1909 JM-K noi

95

90
138
116
78
47
120
89
140
123
80
100

Market will be found on a preceding page.

o' Outside

Street Kailways

no2
i

& Atlantic

Electric

Unlisted
shares

3I2

Northwestern Teleg. 50

Daily transactions at the boston and rmLAOELPHXA

Listed
shares

101

Y&N JTeleph...lO0

HSouthern

Boston

98

1[AmerTeleg<fe Cable 100
Central & So Amer. 100
Commer Un Tel (N Y).26
Emp & Bay State Tel 100
Franklin
100
DGold & Stock
100
Hud.son River Teleph 100

$467,827,400

Week ending
May 18
1V06

i

11

II

$12,959,000

5

75
103

TelesT i& Telephone

o. shares

BONDS
OoverniueDt bonds
State bonds
RR. and mis. bonds

IniluHlrial

26
70
94

18

122,746.938
5,102,162
4,183,045
118,423.962
$427,325,800 $399,432,650 $10,986,601,200 $ll,053,497,!i75
Par vaiue
$1,000
$248,600
$5,200
Bank shares, par..
•1.429,700

Stocks

&

H Cong 5s 1949. ...M-S
St Joseph Gas 5a 1937.J-J

New

Exchange

Bid

40
42
7
12
97 Hi 102
30
82
96 110
8
11
38
43
Exch list
34
38
Log&WabVlst6s'25.J-D
Cramps' Sh&EnBldglOO
18
24
Madia- n Gas 6s 1926. A-O n03y! 107 "tj HCrucible Steel
100
13^ 187,
Newark Gaa 6a 1944. Q-J n34 137
UPreterrou
100
79>s 80
91
Newark Conaol Gas.. 100 90
Cuban 6s of 1896
101
103
109 110
.I-D
HDiamond Match Co. 100 125 126
llCon g58 1948

"'s'obo

$13,116,100 $1,674,000

(lias Securities
Indiana Nat <& lU Gaa—
M-N
l8t 68 1908
50
Indianapolis Gaa
A.O
1st g 58 1952
Jackson Gaa os g '37. A-O
Kansas City Gas
100
1|L3dede Gas
iO(
100
II Preferred
Laiay'eGaslst 68*24. M-N

Pat
5,102.162 $427,325,800

Total

1145

MN

Ijlst prelerred
100
11 2il prelerre<l
1 00
Crosal'wn l8t6s'33.J-D }107 no
Grand Rapids Gaa
Colo industrial. Se« Stoc
Grand Rapids Ry
100
76
1|l8t 68 1915
F-A noi 103
Col <& Hock CoaliSt I pi 100
Preferred
100
85
90
Hudson Co Gas
100 109
110
letgOs 1917
J.J
« Buyer pays accr'd int. fpricepersh. tsal<* price,
ttEx-rights. aeEx-div. tNew stock. USeUs oa Sl'k Jiich.,l>ut not ayory acUve»«ourltiy.

94
130
13

40
82
62I
h'ge

106
45
80

no

195
l!)>a

2U
105
65
2
98
126
123
43
54
6C34

100

92
lUt

114
114
128

180

n48
98 >4
l**

lao

1

BOSTON STOCK EXOaiN&E-Stock
f*h«ro l'rlce»

Mondav

Satur<tay
ifay !/

May

'lOlVilO^H,

254
164
243

263

263^4

164

17tf

178
*176
•313
•35

i7u'

165
243
179

175

313
•35

3G
88
16U
123

I'M

•141
106

•35

88
166

•

1234!

*

141
107
•91

"iVi^'iaH

141
93

I'cr

15

8/38

22 "2 22 Vj
1»7 la7S

208

208

208

207

6ti

Sti

•

•55
•70
99 >4

68

68

75

66
68
75
100

110
105

•70
•99

!>y'«

160>-,l5l

14834 IBO'e
•yiSj 95 H

98
113 Hi

981a 9«ia

98
113

•113

113

113

18>-,.

•64

241.

207

56
•55
•70
99

58
75
99

55

14939 I5OI4
9434 9434

113

9812

113

06

26'i

21^4

•25Hj

95
22

95
20\i

40^ 40 >«

•4

43<

*117

118

S'^B

8^8

•SHj

246

246

60
87
196

49^4

49
87
195

87
195

138

137

I'*

138
10
229

•a28
•9Ja

ysg

10
106
23

106
•

106

•26
3
107-=,

80 "a 80 li
30
30
41^4
1-06

"i

•46

14
90
81
96

7\
''t

103*

1034

S-*

3^,

1<

16 Hj 17 »!
36 "a 36 ^i

•3I4

50
30

80
30

109'8luyvj
41
4134
106J«106'*

11*

10
228 228
•91a 10
106 loeia
23
*26

403«

4138

106 4 IO6I4
•13
90
•77
•85

7I4
•7
381a 39
108'«110'4
"10
11

3»a

3'i
li«

14
90

83
95

7
7
39
38
107 14 109 Sg
10
10
6634 66 '8

34

•1
14

153^

*1
14 '4

35

36

3434

3»,

l\

li\
3514

••60
-60
••55
••55
"60
25^8 26>i
2534 26 1^
25
113 113
II3I8 113
113

•60

695

700

700
•24
•60

77»a
•16»4

>117

700

24»a
6
'65

771a

17

118

29^4

18^
13H
29"^

•6

•21

3*3
191*

93
••75
421.4

107 'a
36 '«
••60

100

•d5

7634
1714

113

78^
115
2

*l'i\
28*4
>6>4

29 ^
518

13

13

6'iia

621.,

18'8 19^
901a 9414
••76

106

'tilK

••60

101
6

a\

I't

106
9=4 10
•43
48
934 10
6238 64
•90 loo

105

I2I4 13iv
69^4 593^

46\

61 "-J <al\
8
8

137 '137
lie

108

6't
2

9

93,

lOia

•44

12la

eVa
46
601a
*7ia

8
136
ii«

'

'

138

7934

28 14

•6I4

121^

45
100

54
21

•8I4
83,
••60
•60
1234 123,

624
34 34

62

19
9II4

193b

93 1«

80

4114

1064107
264 283,
101
6
2
834

11
•44

^874
101

106
12
47

94

834

6538

664

•85

1384

80
•30

80

64

304

104 104
334
1

•9 4
334

334

1

•1

144 144
854 354
••55

25^

1238

139

24

24

"•62" •65
7734 78

17

*

4
134
17

284 2838
•6 4
54
204 204
8'e
•50

"13" 144
62 <^ 63
19

924 934
•75

•75

42
107

42

26
"9'y"

11034
2738
•87

100
50

Do pref
50
Amer Sugar Befin
100
Do pref
100
Amer Telep & Teleg.lOO
Amer Woolen.
100
Do pref
100

Jan '06 PlantCom t'at stk oomlOO
Sep 'Oo
Do pref
100
230 Pullman Co
100
10 Beece Button-Hole.. 10
Swift & Co
100

j.1'2

4 United Fruit

25
25
25
100
Corp. 25
26

l^s

I'e

94

ii
110
2634

100

64
•1''8

834

105
9 '8

66

106

12

11

700

2434

•80
4234
112

274

101
63^

24
»
105

114

9 '8

65

10
663,

LastSale
12^8

684
46

13
59
46

604

613,

6I4

61 »8

74
74

I'*

74

13

13

684 584
464 464
614 62

71,

74
137
1

137

14

10

Adventure Con

25
25

Allouez

Am

25

14 Arnold
12

123, Atlantic

21

64
77

113

700

Calumet
Calumet

<to

Ariz

<fe

Hecla....

Fob 'Ob Catalpa (SUver)
24

Centennial

Apr '06 Central
•64
773,

•136

•14

138

14

•80

1

42
109
27

43
110

Oil

""2 b 50

Jan 15
46 50 Marl4
30 65 Jan 10
95 Jan 10
6
4,175 139 4 May 2
14 91
May 3
30 175 Jan 11
210 97 4 Apr 31

Jan 3

44 112

254 May

77T,.M»>

93-4

9

170
171

JOS

22
91

May
May

2 102

Jan 3 29
Jan 4 46

Mar2
Apr 2

34

3

15678 Jan

2CJ

8

Jan 2b
1444 Jan 17
4734 Jan zi
141

11034

175
13
55
1934
al92]4

Feb

May

2

194 Jan
86

Jan

44 Apr
Jan
1304 Maj
132 Ma\
1304 Dec
21 Jan
924 Jan
3 4 Mai
20

Mar

141

4 Apr

Feb 24

385

l^ie

•50

Janl5
2
3
9

Jan 15

84 Apr

Jan 10

33 4 May 2

47

May 4 118
Apr 24 I634
30 67 4 May 2 74
6
3 Mar 6
755
96^8
9

67s
100
1,740
1,320
4,821

25
1,46U

626
2,965
1,501
1,310
2,266
20,025

64 4 Mar 6

34 May

8

11

Jan 26

7434

Mar

b

Newstooic

f

Jan
^"0T

Mar

434 J'ne

Jan
Deo
Jan

514 Aug

s84May
Apr

4

Jan b
Feb lb
Jan S
Feb 14
Jan 8
Jan 3

90

Aiig

344 Aug
344 Jan 57 Dec
98 4 J an 117 4 Apr
244 Mai 43 4 Deo
91 Ma) 107 Deo
40 Mai 67 4 Jan
U Dec 22 4 Feb
90 Oct 104
82 4 Oct 92
yi Maj 100
t234

18
70

Feb

Mar
Oct

Ma^ 1 104 Oct
49 Oct
Jan 1114 Deo

Apr

8 J'm 1534 Deo
254 May 73 4 Deo
7

JS'OT

3 Not
2s4 0ct
37 4 Deo
•95

Oct

35

Deo

720

Deo

•20

Oct

344 Oct
8 4 Jan
•75
May
864 Deo
22 Not
86*4 Mar

30 Mai
Jan2-<:
4 Jan 20 64 Jan
Jan 6 11 4 Mai
84 Feb 13 60 Jan
122 Mario 113 Jau 120 Deo
4 Oct
234 Jan 12
2 May
21 Feb 1
8 Api 204 Oct
lOSgDeO
6 Jan
13^Marlu
3134.4.prl6 2034 J'ne 32 4 Deo
74 Apr
74Janl8
3 Jan
2938jan 6 174 Maj 2334 Jan
6 May 13 4 Mar
124ganl3
14 Jan 4 •70 J'ne 1^8 Oct
17'>8Jan 3 104 Jan l83»Ded
64 MaylS 48 May 6434 De«
64Dett
7 4 Feb 13
a
J'ly
20 Apr 18 104 Dec 13 Deo
954 MaylO 34 Ang 93 Deo
2»B0Ct
14 Jan 11 •75 Maj
47 4 Feb 20 234 Maj 364 Deo
112 Mayl7 88 Feb 115 Oct
48 Jan 2 22 J'ne 47 Deo
14 Jan 4 •50 J'ne 34 Jau
114 Jan 11 96 Mb} 118 Jan
8 4 Jan 19
14 May 8^8 001
3 J&a
2^8 Jan 16
14 Maj
9
Jan
10 MaylO
6!% Feb
122 Jan 3 101 May 140 Mar
16 4 Jan 8
2
Feb 16 4 Oct
52 Jan 6 24''8 J'ne 5334 Deo
1308 Feb
738 Jan
l24Apr 5
78 Feb 7
9 Mar 75 Deo
111 Feb21 744 Not 88 Deo
14^8 Mar30
94 ^pr 13»4Deo'

2 •70
2 S6

Marlb
7434Mayll
US Apr 30
2 Feb 23
14 4 May 2
938 Jan 17
254 Jau 2b
44 Jan 5
17 Apr27
634 Apr 28
60 Mar23
11=8 May 2

109

124
Jan 28

1
Ma>
25
•45
2
J'ne
1
MarSb
100
25
25 11,282 12 Maylb 284Jan 6 124 Max
304 May 4 494 Feb 14 28 Maj
50 3,655
50 May " •75 Marl5 •50 Maj
10
534 Jan
£1 8,530 2058 Marl 33 4 Jan 2
335 108 May 3 120 Apr 17
10
675 May 2 715 Jan 15 dOl J'ne
43
25
10 Feo b •12 Jan 12 •10 Mai
10
910 21 Apr 2b 32 Jan 12 lOSgMai
25
5 4 Sep
54 Apr 2'; 54Apr2,
26

14

148
47

Feb 1134 Deo
Dec 140 4 Apr
234 Jan
1
Feb
10 Jan 17 Jan
268 Oct
230 Ma>
84 Jan 104 Feb
100 Dec 114 Jan
18 J'ly 23 Jau
25 Ma\ 27 Aug
2 4 Maj
44 Aug
103 Api 115 Feb

Jan 2 17 4 Jan lb
Apr 26 98 4 Jan 19
Mar 1 86 Feb
Apr 2 98 Jan 11

6

964 Sep
15 Deo
364 Deo
1544 Deo
1404 Aug

1
6 131

544 Feb
109 4Feb24 113 4 Jan 13
3634 May 2 464 Jan2li
102 4 May 2 1134 Feb 1
78
86

29 4 Apr

US5 ^ J'ne 206

48'6Febli

Jan 2b

-Mar

254 Deo

Aug

384 Jan
804 Jan

5434Maylb
87'*8FeUl5
198

May 2 •246 4 Jan
94Janll 104Apr
zl02 Jan 16 108 4 Mar

12

Aug

;i'2

734
93aAprll
5 4J'ly
250 Jan 13 239 Dec 257 Apr
191 Jan
180 4 Jan 9 169 4MaT

Jau 16

'40

Mar
4 Apr

Oct
96 -Vov
Jan 192 Ueo
,_
Oct 23
Nov 7o 4 >iar

22 4 Jan 11 23 Feb lii
26 4Mar29 26 4 Apr26
24 Feb 20 2->4 Jan 2'z
9,171 103 4 May 2 11334 May 17
57 J'ne
73 Jan 10 864 Feb 1
l,52i
161 30 Apr 5 32 Jan 27 j;304Dec
8,796
607

35
82

Jan .{00
Dec 148

59 4 Jan
86 Jan

4 4Feb21
11834 Marl'^ 116
34 Apr 3 17

70 226"*
197

Apr
Mar

Dec 185 4 Mar
Jan 175 Apr
Jan 311 Deo

134Jan

Jan 27
Jan 26

11

1

158 4

Mttj 249

Dec 215 4 Sep
164 Oct 167 34 May
232 Jau ,;33 May
206 4 Jan 212 Apr
Feb
102
"57" Feb 26 79 4 Jan 87 Feb
52 Dec
64 Jan 4 50 Apr 72 Jan
80 Mar 2 50 Jan 67 4 A.ug
106 Feb 20 934Jau 102 Sep
1604 Jan 24 113 Jan 1514Deo
9934 Jan 2 95 Sep lOl'gFeb
178 Apr 4 172 Jan 150 Oct
101 Jan 2 93 Jan 102 Sep
1164 Apr 9 110 Dec 117 4 Apr
254 May 9 21 4 Jau 31 4 Sep
554 Au* 60 4 Sep
1504Febl6 146 Mai 151 Not

15
30p

30
7,267 128
213 131

Kov

63 4 Jan

Jan 2

3,99:

812

Mar

150 Jan 182 Mar
Feb
123 Nov 132
186 Jan 189*4 Mac
160 4 Jan 107 Aug

2 285
141

Feb

'^

||

15'.'

x241

31

150

34 .May 16
300
25
25 2,055 35 Jan
25 3,947 93 Mar 7
274 Parrott(SUv<S! Copp) 10 21,696 26 May 16
•60
MaylO
75
May'Ob Phoenix Conaol
26
100
100 Quincy
25
631 86 Mar 5
6
4 4 Apr 28
25 1,675
63b Rhode Island
l'«
14Mar2y
I'o Santa Fe(Gold<fc Cop) 10 1,015
534 Jan 10
8»8
10 10,085
8'e Shannon
»]03
97 May 2
105 Tamarack ....«
25
236
11
9 Apr28
113, Tecumseh
25 5,177
15
40 May 2
May'Ob Tennessee
25
9^,
9 Jan 30
26 5,700
9'e Trinity
6334
654 United Copper
100 16,880 574 May 2
93
88 Jan 9
May'06
Do pref
100
1234
123 Unit States Coal <)iOU 26 7,520 1034 May 3
U S Smelt Re{.<feMin. 60 2,17U 51 Mar 6
"40"'
"464
Do pref
60 2,900 43 Mar 5
61
614 Utah Con (Gold)
5 10,173 66 May 4
74
63gjan 2
745
74 Victoria
25
6 Feb 9
Winona
26
236
i'si" ise" Wolverine
131 Jan 30
25
46
MaylO
1
925
Wyandot
1
25|
1

ilicUiuUasiceiL

Jan

2-,i4Mayl2 25 4 Jau 9
196 May 3 2071, Jan 27
160 Marl7 163 Feb 7
•230
Jan 16 233 4.Mario
30 207 Feb 6 210 Jan 15

Old Colony
Old Dominion
Osceola

"

Apr

100
26t)

795 •60 May
Cons Merour Gk)ld... 5
Copper Range Con ColOO 5,076 6934 May

liUeCorepay'totassesa'tsoaUoaUiiyoi.

Highest

99 4 Jau loss, Sep
253 lu-c 261 Apr

Apr 27

Aprl3
204Marl4
70 4Marl4

5

2

17

8

1,655
Amalgamated CopperlOO 61,24
200
Zino Lead <& Sm. 25

674 Anaconda

17

LastSale
10
66 ^6

63,

38
110

3 '6 Arcadian

14
16

4 LastSale

101
5

13

jBeforepay'totassess'tsoaileain 190J

394

Do pref
Amer Pneu Serv

164
17 Daly- West
20
LastSale 7434 May'06 Dominion Coal
100
LastSale 118 Apr'06
Do pref
100
2
2
Elm River
2
12
17 4 IK
174
1734 Franklin
26
13
134 1234
134 Granby Consolidated. 10
284 '28^, 284
28 4 Greene Consolidated. 10
-6 4
54
6'h
54 Guanajuato Consol.. 6
20
20^
204
2034 Isle Boyale (Copper). 25
84 84
84
25
84 Mass Consol
LastSale 50
May'Ob Mayflower
25
1334 1434
13
134 Michigan
25
63
63
63
64 Mohawk
25
a3»
3H
34
34 Montana Coal <& Coke 25
•184 18'„
Nevada Consolidated 6
92 4 93 '^ "913^ "93 North Butte
16
•80

84
ll'^g

•94
674

3»„

••63
•66
7734 78

2

19

10

LastSale 54

6

684

14

Amer Agrlcul Chem.lOO

Jan

5y4Jau

279

iUinlng
634

38

Lastsale 10

46 4

14

Miscellaneous

26
95
20

80
*30

700

24

8'8

31

700

705

17 4
1234

&<J

113

116
700

297 4 Apr 3 1298
139 M»yl7 145
95 Jau 8 107
924 Feb f 95
-iy7 Mar27 198

Apr '06 WoicNasn* R0CI1..IOO

138

26 '6
26«8 25 'r
•113 114
115

95

135

100
100
100
100
100

pref

Maine Central
Mass ElectncCos

354 36 4 3434
3434 Bingham Con Mlii<&S
Last Sale 50
May'Ob Bonanza (Dev Co)...
244
244 BostonConC&G(rots)

•eo

123^

m

394
135 4

110431138 1094

108^8 11034

68
46

74
74

18

1364 136

64 64
384 384

634

1

8

95
20

11134

11'.;34

6yi2
461*
6212

8
186

AlJi-'Ot

Do

Last Sale 3liK"' Apr' 06
Last Salt ^64 Apr'Ob Torrington Class A..
Do pref
Last Sale S*4
Apr '06 Union Cop L'd cfc Mg.
liJ 1133,

•384 394

6

2
9

40

26

227
•227
"94 10
•94
106 41064

118

13
28 7j,

May'06

211 HOS -May 1 90 'g Jan 1»
03 100 May 2 105 4 Jan 3
141) •2->\ih May 10 257 4 Fell 19
121; 15:>
Miiy 2 160 Jau lb
25 240 Jan 3 2464 Apr 2
560 172 Jau 2 1804Apr 2
173 Mar23 1754M»y 4
Jan 13 314 4 Apr 24
15 311
15.'.
Jan 17 39 4 Apr "
•J5
44 72 4 Ian 16 90 Apr
May 17 182 Jau 12
15 165
50 122 4Mar'J(i 127 Jan 16
189 Mar 1 190 Mar24
163 Apr »i 163 Apr b

tta Ry<fc Klectrlc....lOO

804 Un Shoe Mach
31
Last Sale iS^a Feb '06 U SDo pref
Rubber
100
10938 1093^
Do pref
100
41
414 404
41
40 '8 U S Steel Corp
413s
100
106 4106
10541054
Do pref
100
••45
Last Sale 5o"" May'06 West End Land
25
13
124 124 13
14
14 West Telep A Teleg.lOO
•89
90
90
90
90
90
Do pref
100
•78
Lastsali 78
83
May'06 Westing El <fe Mfg. .. 60
•85
Last Sale 90
95
Apr'Ob
Do pref
60
•30

•115

12'8

204

227

3

81
118

"174 174

95

Sale I
Last Sale I3h

10
227 227
"94 10
107 107
23
•26

•24
1084

Boston cfe Albany
Boston Klevated
Boston* Lowell
Boston & .Maine

s

14

'

894 Alch Top A. Santa FelOO
Do ])rer
100

136
May 2
May 2
136
138
3,10 132 May 2
384 3/4
38
355 34 May 2
106
106
106
475 10234 May 3
Sale 44
Feb'06 Boston Land
334 Jan 11
10
11734 118
118
118 Oumberl Telep & Tel 100
43 11634 Jan 8
'303* 31
"30 4
314 Dominion Iron <& St
5t 26 Jan 4
8»8
•84
S'l
538 Jan 31
9
1,100
East Boston Land
•246 248 •246
248
Jan 4
1; 240
Edison Elec IUiun...l00
1684 169 General Electric
197 16 14 May 2
100
60 4 501.
504
643^ Mass'chuflettsGasCoslOO 10,09b 44
May 3
3434 8434
844
8434 Mayl7
874
Do pref
100 2,63
19641964 196
196 Mergenthaier Lino.. 100
41 190 Mar2b
3
3
3
3 Jan 2
3 Mexican Telephone.. 10
28
138 138
138
138 N E Telephone
186 132 Jan 2
100
Last

17

107

9 la 10i<
64'8 673b

•90

85

17

H.

1021s

514
1'8

105

eo-*
19614
334

17

404

281a 363^

101

834

17

•80

1

401a 43
-87

2334
6

*"62'* •65
763* 78>4

•20

21

8'(
81a
*-50
•60

42 ii
107 h;
36 14

263,

138

2

18 1,
13

ly^
94'4
1

•34

32
246 4

'116

17',

31..

I'e
914

He

-66

3>a

5

4»ii4

2334

6

20

8
8
••60
60
13
121a
62 >a 63

700

234 24

2ib

18

700

•30

138

'•45

14
90
81
96

11734 11734

334

•213
3
10834 109
7913 80
30
301a

3
-2Hj
108»4 109

•13
•89
•78
•86

38
loTinlOSin

-1

9»8

106 iv
23

•46

38»4

434

9
8^8
•S^g
2461a 246 '-2 246
1681,
168
6OI4
50
504
85
85
85
a95i4
196 196

138

•26

-2»a
107^4

*4

1^

^

10

•

•7

334

226

•

•13
•89
• 78
•85

eos

*3«4

37,

138

41^

y

b^e

247

87
•194

10638

4-',

•254 264

•94
95
95
20
20
21
40
40
40
1341313734 13614
•135
135 135
138
138 4139
•38
384
38 4
106
106 106
•4
Last
434

21

•II7I4II8
II7I4II7I4
3114
31
31
31

32

•SO^*

•246

2l7e
41
1353s

1934
3934

Lnwejit

Hl'/hetl
I

66
Do pref
•234 244
23 4 Mexican Central
197 197 4
1974 N Y N H & Hart.. ..100
Last .Sale 163
Apr'Ob Xorthern N H
Last Sale 130^ Aijr'Ob Norwich & Wor pref 100
100
206
2U6 Old Colony
100
Last Sale Wl
Oct '05 Pere Marquette
100
Do pref
100
•oa
58
65
58 Rutland pref
100
•70
75
70
70 Seattle Eleotrio
100
99
99
99
99
Do pref
100
150 151
1484 1494 Union Paclfio
100
94
96
05 4
y54
Do pref
100
175 175
Vermont & Mass
100
98
98
'ya" "98" West End St
50
•
1134 113
113
Do pref
60
Last Salt 25^4. May'06 Wisconsin Central. ..100
Last Salt 6U
Oct '06
Do pref
100

•2515

•251a 2615
•94
95

40
40
134
133 134
135 135
134 135
136>al3a
138 139
39
39
38
38
lOSHilOO^i 105 la 106

135 135 1^
185 136 "s
la6'2l37
39>,
3a
106 106
•4

95

Lowest

Share).

103",

....

lor iYeviOttl

Year (1905)

Itailrondn

•64
•22 4
197 4

Last Sale ISO

*25
•94

KXCHANOK

263
155
243
179

1054

66

Hj

.

139

Uange

1906

IK*

Week

100
155
100
100
iVy"
100
/75 4 MiiyOC
Do pref
100
'
313 Boston & ProvidoncelOO
•
:i'ii\ Boslon&Wor Elec Co
88
Do pref
*
166 Chic June By 4 U S YlOO
•122
l-i'44
Do pref
100
lyu
May'06 Con<fc Mont Class 4.. 100
16 i
Apr '06 Conn & Pass Riv pref 100
297^ Apr'Ob Connecticut River. ..100
13'J
139
Fitchburg pref
100

Last Hale 93
Last Sale lyS
17 4 18
18

•205

99
113

139

1054

93

I97I4I971.J

*94ia 95»a
>a

88
165" 165

140

*6o
•2314

149^

148

98

18

•55
58
•70
75
9914 9914

•94 >a 96 "i

313
36

313
36

Hj

•91

l-"!!

207

Last SaLe

....

1'24 4
Last Halt
Last Sale
Last Halt

65
65
•22 Vi 23'.,
197 l«7'a

Wh

1544

12312 >l,i2

140 140
105 >2
•91
93

253

253

243
179 41'' 9',

313 S) 313^1
"35
3d''j
88
88

I06
123 "u

18'3

253
154

165
243
179

175

sola
8738

19
19
65^1 66
"23 !« 24 H
197 laT's

t)7i-j

•Srt'g
•li

102
253

179

17

89 4 •^yg
24 1034 •1024

88 >4 88 '4
102
25234
'154
24 1

Ua/na* lor year

Sales
Of

BOSTON .STOCK

fYiUav
May 18

T/iuradai/

May

Weekly and Yearly

Record, Daily,

Cnntuin Hrlc««

Wedneiiday
May Id

88 >4 8834
101'gl0l7g
253 253
164\)154S2
•
243
179 179
•176
314

B'iH,

88

100
U3

»1

May

!4

88 '4 ys",

89 V

•lot
264
1(4

— ^o^

Tuesday

:

18

66 Jan 20
47 4 Jau 20
0934

393t, Mai
c2 May
74De«
Marl9
Mario 105 Jan
14J'ne
Jan 2 b

Jau 12

y4Marl4
10
161

Ass'tpaiO.

134

^ tlx-rlgtiss.

esogNoT^
t7 4 0ct

'

15 4

Feb
134 Deo
27gFcb

aUx-div.dtrigUM

[[Mat 19 1906.

Week's

BOSTON STOCK EXCH'OE
WsBK Endino May 18

Nay

1

fi

82

MS

lUinois Div SHiS
1949
Joint bonds See (it Nortliern
Chic JcRy cfe Stk Yds 58 .1915
Coll trust relunding g 481940
ChMUcfe StP DubD 68..1920
Ch
<fe St P Wis V div 681920
Chic & No Mich Ist gu 58.1931
Chic &
Mich gen 58.. ..1921
Concord & Mont cons 48. .1920
Conn & Pass R 1st g 4s. ..1943
1927
CaiTont River 1st 58
Ist 48. ..1946
DetGrRap<fe
Dominion Coal Ist si 68.. 1940
Eastern 1st gold 68
1906
1908
Fitchburg 5s
1915
48
1927
48

J-J

W

102

.

A-0
88 1* 89

WI-N

J-D
Q-F
108
100

A-O
A-O
M-K

.

104iu.
99'a.

F-A

97

KanCStJo&C B
1

lOO'g 101

99"

A-O
Nl-N

J-D
J-D
A-O

10L'<jl03

New EngTeleph

99

1921 Q-J

97 "a
93

Apr'OG
Eeb'05
Nov'Oo

122

102

101

105

97I9

97%

Wd\ Mar'02

101

97 Jan'OU
100 Hi lOOH)
>2
ig

103

Sep

'05
Apr '05
Mai '06

102 Hi
137 '8 Apr'OG
140 Apr '05
98>2 98 14
98 H(
97 May'06

96''e

10134

Note— Buyer pays accrued interest in addition to the purchase price for all

sjlinre
Sn.tvrcLay

2Iay 12

— Not

Frices

Fer Centum Prices
Wednesday
May 16

Tuesday

JMoncLav

May

May

14

1J

*57

59H!
'la's...

51

Hi

'3434

1138

510(.

35
ii-^

•37

99
29

100

99Hj

16

52
35

III4
9 Hi

19Hi

1»Hj

53
34 Hi 3434

•51Hj

111*

ll^s

9

38

19I4 19 Hi
104 63 106
72I4 73I8
671,0 67«ie

68-^4

5038

fiiio

S'le

71618

63

63
118278 B3

5(1 Sg

50

H»

8

60 Hi
H
27

26 Hj
>26H» 27
6468 68 18 63i5ie 6538
*46
46
*45'i! 4GHi
46Hj 47
*46Hj 47
'6318 63 Hi *63i8 63 Hi
83
83% 8I34 8234
30
30
1

III4

Inactive Stacks
Allegheny Val pret
50
American Cement
6 '6
10
7
Amer Gas of N J
100 lOOHi 103
Bell Telephone
50
Cambria Iron
60
49 Hi

Easton Con Electric 6.50
Elec Storage Batt
100
Prelerred
loo
Ft Wayne <feW V
100
Gerniauiowu Pass
50
Indianapolis St
100
Indiana Union Tr
100
Insurance Co of N A.. 10
Inter

Sm Pow

<fc

Preferred

..50

'1914

....„
i8

23
72

Hi

"ii"

2634
6438

'45 Hi
*46H2
63 Hi
811a

<

2634
653i8

26^4
6514

46

453,

'^4

47
63 Hi
82
*30

'46H1
63 H,
81Hi
^

Bid

Mo 1st 5s 1949 J-J
& G gen 5s '19 J-J
Col St Ry 1st con 5s 1932
ConTracof N J 1st 68. '33
E & A Ist M 6s 1920 M-N
Elec & Peo Tr stk tr ctfs
Ch Ok

23

Hi

13>4

II

Gas-L 1st g 58 1928

"65

iiri"'

P

7

111

ibo"

Hi

10614

867g

69
105

Hi

19»8

28
262

6H
62 H,
92

'b

20

263"
7

9y
105

9»

981a
109

105

lOo

100

Feb '06

10458

1!104'8

1II50'«165

111^4 112Hi IIOH2

11214

107

119734 Sal6

1:9734

1I9G

100 Hj May'dG
103 Hi Apr '06

100

101

H2

Sale

1197

Daily,

Hi

11214

moo ^B
H2

10238 10238
102 H: 102'8

lu

99H2l03Hi

Sep '05
Aug'05

and asked.

Flat price.

1|

Weekly, Yearly

Mange lor Year
1906
Lowest

tiange lor Frevioui

yearfiyOo)

May
May

9834

27

Hi

Highest
3
ft

5

89HiJau22

Mar

89

lowest

107 Hi Jan 29

21

9134 j\lar30
62 Hi Jan 5

83

1

47^8 Jau
12 Hi Apr

64
18

Marl5 51 Jan 27
Jan 5 3734 Jan 24
May 9 12 Hi Jan 10
May 9 14 Jau 4

48

Mayl4 48 Jaul9
1838 Jan 2 2334 J an 1

36

Hi

Jan 15

19

•J

530
2,100

3934
11
8 Hi

301
65
30

38

98

103

tr 48 '21. J-J

Ist 88 1930.

Ry& L con 58 '54J-J

1

1-^

Not
Dec

Max

544 Apr
May 32 Deo
Jan

2434

lOHiJan
8 Hi Dec

12«8
17 14

Nov 49

50
92
190
145
345
85
10

Atl<fc

L RK4al952M.S

Bait

Trac 1st 5s.. '29 M-N
No Bait Div 6s 1942 J-D

109

"103" 103ae

M-N
Cent'l Uy con58l932 M-N
Kxt& Imp 5a. 1032 MS
Convertible 6a. 'OG

99
69

GaCar<feNl8t53g'29J-J

Knox V Trac Ist 5s'28A-U
LakeR El 1 st gu5s'42M-S
Mel.st(WaNh)l8t5s'25FA
Mt Ver Cot Duck Ist 5s.

70
95

Incomes

Npt N&O P l8t 58'38 M-N
General 58
1941 M-S

365
92

114
92
91
107
114
106
110
116
122

U Kl L<fcP Ist 4 '-2a'29 M.N
Uu Rvd;Kllst4s'49M.S
Income 4s 1949
J-D
Va Mid 1st Gs 1906. .M-t;
2d series Gs 191 1... M-S
3d series 68 1916..M.S
4Ih ser 3-4-58 1921. M-S

5th series 5s l!t26.AM-S
Va (Slate) 3s now '32. J-J
Fund debt 2-38 1991. J J
West N C cou 6s 1914 J-J
WesVaCitP latGg'll J-J
ll4Hi llu'e
Wil it Weld 58.. 1935. J J
112

lialt

Hi

1939 J-D

Georgia P 1st 6s... '22 J-J
73
GaSo & Fla l8t 5s 1945 J-J
103 Hi G-B-SBrew 3-4s 1951M-S
2d income 5s l'J51 M-N

SKI Is

112
91
90
106
112
105 Hi
109
114
120

BaltCPa8slst5s'llM-N
Fundg 5s. 1916 M-N
Exchange 3HiS 1930 J-J
Bait & P Ist 6s m I'll A-O

116H; 118
102
102 H.

5s

123 Hi

Mar
Not

534

Jan

2514

90 Hi Nov
73 's

Aug

12

Apr
Apr

65I4N0T
Hi

436
7113i8N0T
47'e

50 Hi

Not

31

102
94
117

Hi

95

$7.50 paid,

t

*15 paid.

*

$ 10 paid.

Hi

no
114
106
105
114
106 Hi
112 Hi
110 Hi
111
121

115
106
106
116
107
113

UlV*
nil*

11234 113Hi
6034 61 \«
32I4 323*

115
112
116
84 Hi

85

'W\ ibo"
"109" 112

UO

109
1171.^
117'-i

110

116

116
115

117

88

8/1-.

112
111
95
92

il2

96
9218
72

7134

iio"
112

lOS

110

110
943^
94-4

;i3
108
116

<

f 20 paid,

a Roceipts.

b $25 paid

96
90
116
109
118

'

||

Aug
Not

631400*
1263pApr

•-.

Atl Coast L(Ct)ctfs 5s J-D
Ctfsotlndebt 43
J-J
6-20 yr 4s 1925
JJ

Hi

Ry 1st 5s'20F.A
Col&Grnv lst6s.l916J-J
Coalife I

Norfolk St l8t 53'44..J.J
11
North Cent 4 i-.i8 1925 A-O
33
Series A 58 1926
J-J
41
42
Series B 6s 1926.... J J
97
100
Pitt Uu Trac 5s 1997.J.J
82
84
8I4
8 Hi Poto Val 1st 5s 1941. .J-J
Sav Fla & West 6s '34 A-O
Seaboard A L43 1950 A-O
104
^^^^ablfc Koaii 5a 1926.JJ
105
103
Scmtli Boun<( Ist 5a.. AC)

Chl8t7...1907 JJ

Atlan C
108

7s
1910 A-O
City<fcSubl8t 5s. .'22 J-D
City & Sub(Was)l8t5s'48
'2d

3 1)

Ana«ostla<& Pot 5s

98 Hi
68 Hi

<4

MS

A ext 5s. '09 J-J

Ga& Alal8tcon5s '45J-J

100

a73,

114
72

Chas CityRy 1st 58 '23 J-J
Chas Ry Q & El 5s '99
Chart C <fe

Feb
Jan
Jan

Bid Ask

BALTIiUOliE

Consol ©as 68. .. 1910 J-l)

105

99

Bonds

ioi'i^

.M-N

Couit col tr f'S 1951 M-N
Phil Klec gold trust ctfs.
TniMt cert if H 48

W & B Ry
col

Pref
100
Atlanta <fc Charlotte.. 100
Atlan Coast Line RR 100
Atlan Coast L (Conn) 100
Canton Co
100
Cons Cot Duck Corp. ..50
Preferred
50
Georgia SoU(& Fla...lOO
1st pret
100
2d pref
100
Q-B-S Brewing
100

os 1930

102

Ask

Bid

BALTIMORE

97

Ex-nghta.

Sep

Deo

34

51

Jan

Apr

90
11034

Jail
Jlai

May

8
8

JJ ighest

Maj
Maj

83
99

Jaul7

32

66
15

1,100

Inactive .Stocks
Ala (Jons Coalcfc Iron. 100

4s 2003. M.N

Feun <fc
Pa cS; N
Con 5s 1939
A-O
Con 4s 1939
A-O
Penn Steel Ist 58 '17 M-N
People's Trtr certs 48 '43
PCol»t<fccoltr5s'49 M-S

I1

102«»

102'»103Hj

1023g Jan '06
10134 Mar'06
10 1 Is 101 Hi
1194

latest bid

;

103

103

Apr'OG

83 Hi Jan

....100
....100

70

Hi

68 r 1910.. Var
r 1919.. .Var
Md Steel cou 6s.
Y Can 78 '06. J-D

Bid and asked prices; no sales on this day.

50
50

'87"

Consol 5s

Hi

1045^

Til
300

Welsbach s 1 6s 1930. J-D
Wlks-B G&E con58'55J-J

10014

125

Ist 4s '36.

Penn gen

IS

lOlHzlOlHl
1!l21'6lI12I38

Week

U Trac Ind gen 68'19. J.J
Un Rys Tr ctfs 4s'49J<feJ
U Trac Pit gen 5s '97 J J

ibs'i-^

iVin; i'13"

Leh V Tracl8t4s'29.J-I)
New Con Gas 5s 1948 J-D

No Peuu

99

614

Apr '06

J-J

E gen M

Portland

NoOhioTraccon58'19.J-J
9834

100

lui'^ ioi>i
10134 101»4
104
107

Jan '05
Mar'06
Jan '0,
Nov'05

M-S

M-N
M-S
M-N

115
5 g '20. A-O
M 48 g 1920..A&O 102 Hi
Rea<iad5s '33.A.O
Con M 78 1911
J.D 11534 116 Hi
ConM 68gl911....J-D 110
Ex Imp M 48 g '47. A.O 104
Termlual Ss g 1941 .y-F 122 I4 122 H*
<fe

Roch

J-D
J-D

NYPh<feNolst4s'39J.J
Income 4s 1939... M.N

49

98
103

FA

Gen

ii'ts'ii

M-S

Newark Pass con

106

4834

'

J-J
J-J

Ph&

112^4

Gen eons

113

P

M 4Hi8 g.l924.Q-F

2d 7s 1910
Consol 6s 1923

97

lOl^c Feb '06
1013,
1013,

103
107 H2
102 Mai '02
iiS'-j
98Ha
105 May'OG
102 Dec'O:,
100 Jan'OG

Shares

PHILADELPHIA

Ask

iotii,'

Leh V C l8t 5s g '33. .J-J
Leh V ext 4s Ist 1948. J-D
Annuity 6s

84
251*

Hi

2338

75 J'ne'O;:
102 H; Aug'04
97 H
9«
100 Hi Oct '05

101

103

America 10 l.lOf

Gen Asphalt tr ctts
Do pret trctfa

1201^

14

<fe

Gen

Hi

103
120

105

24

77

1.1

B Top con 6s '26 A-O
Indianapolis Ry 4s. 1933
Interstate 4s 1943 ..F-A
Lehigh Nav 4Hi8 '14. QJ
RRs 48 K
1914. Q-F

3

Westmoreland Coal
50
Wllki-» Gas <fe Klec. 10(1

8

Che & D Can Ist 68 '16 J-J

Eq

2

Warwick Iron <fc Steel. 10
West Jersey <fe SeaSh.50

50 '4

Hj

115

Aug'05

I9I4 Lake Superior Corp
100
14HiMaj
106 LeiiighCefcNavtrctte. 50
906 10114 May 2 118 Jan 19 100 Hi J'ly
74 Hi Lehigh Valley
60 9,827 65 May 2 8534 Jan 18 52 Hi Jau
'2l8
23;, MarsdenCo
100
100
aifMaylG 31^10 Jau 10
2^8 Dec
6618 G6Uie Pennsylvania RR
67*B
50 5,465 66i8Mayl8 ?311i6 Jan 22 65i3ie .Maj
5014
6OH1 50=s Pluladelp'aCo (Pitt8b)a 50
243 47 ApriiO a54Ha Mar26 4034 Jan
8i8
8l8 Philadelphia Electric^. 25 3,lb3
8
738Janll
J'ue
8H1 Jan 15
8
26I4 26Hi Phlla Rapid Transits.. 60 1,065
26 '4
25Hi Apr J8 31I4 Jan 27 f 1734 Jan
66->i.
65»i6 6638 Reading
50 6ii,512 661, .viHy 3 83 Jan 23 39»8Jan
46
46
46Hk
Do Ist pre!
50
20 43»8Aprl6 4715i6 Jan 23 45 May
47
Do 2dpie£
'46Hj 47
60
44'8 ^ay 2' 61 Jau 23 42 Jau
63
63 14 63 1« Union Tracton
150 6 134 Mar28 63 '4 Jan 30 58I4 Mar
50
8I34
81 Hi 82
United Gas Impt
60 8,160 118lHiMayl6 101 Feb 15 90 J'ue
28 30 Welsbach C»
30
100
30 Jan 6 32 Mar 1 20 Feb

FHIL,A«ELPHIA

H

Iron <& Steel.
Northern Central
60
North Pennsylvania. .60
Pennsylvania Salt
60
Pennsylvania Steel.. 100
Prelerred
loo
Phlla Co (Pitts) i)ref...60
Plul German* NorriB. 50
Plula Traction
50
Railways General
10
Susqueh Iron & Steel. .5
Tidewater Steel
10
Preferred
i(i
loo

67 »b 66IB19

77 't

Apr 'Oil

H2
1110-2'8

J-J
J-J
J-J

105
74

7434

2 Is

2 Is
673s

60 H2 503,
8
Sifl.

I9I4

l9Hi

105

105
73

9

40

Choc<fe

I4

16 Hi

Ncvl

*19'4

19H2

Berg&EBrw Ist 68'21 J-J

15Hi

of

9

40

...

American Railways

Cambria Steel
1138 Electric CtW)t

1114

Atl City 1st 6s g '19. M-N
BaUs Ter Ist 68 1926. J-D

50

United N J RUdfcC..10(
Unit Trac Pitts pret. .50

ills

Bethle Steel 68 1998. Q-F

82

52
35

*3434

343,

1118
*9

Bonds

Lit Brothers
10
Little Schuylkill
50
Mlnehill <fe Schuyl H..60

Touopah Miuing
Union Tr of Ind

62

34'4

105 105
72 'a 733e

115

Pliilntlelphia

E ext 78 1910 A-O llOi-i lllis
AjnRysconv68 1911.J-D 101 1013,

KeysloneWalchCase.lOO

N Haven

16

Al Val

Cbera.60

Keystone Telephone

Hi

*51ia 52

11^4

*9

Ask

Bid

Central Coal & Coke. 100
Oousol Trac of NJ...100
Diamon<l State Steel. .10
Preferred
10

16

*51Hj 52
3434 3473

'

1'H11^0EL,1'H1A

9J

Hi

Stocks see belowj

Ha

Muv'04
H:

111:1 38

t/u

0/

Bnltiinore
*81
83
Consolidated Gas
100
*99 lUO Northern Central
50
>2HHj 29 H. seaboard (new)
100
*88
90
Do Istpret
100
'oGHi 6J
Do 2d pret
.100
I6I4 1678 United Ry & Electric 60

38

'•J

67 Hi 6778

5934

26 Hj 26 h,

9I4

9 Hi

>60Hi

65ie65i3ie
•4534 46 -s
*46Hj 47

iiig

38
19 Ha 19 H;
105H!l0634
72 H2 73'e

6:i5ie

99

i)d\,

567g.
IS'a-

•15'.

leif

*51H2
•3434

99\»

FA
FA

Sales

Jitiday

29

'56

»57

38

*105 105Hj
73 Hi 73''8

9aH3

"STOCKS

CFor Bonds and Inactive

118
77
24

99
94

104H2

10034 102

1.0034

Apr '06

J-D

No price Friday

-

Man 18

Thursday
May 1?

29

2911,

ACnVE

83

80H2...
•2313 29Hi

Boston Bonds.

99
93
100

Mav'OH
Apr'OG
Apr'OG

A-O

Exchanges— Stock Record,

Philadelphia and Baltimore Stock

i 01 34 Sale

Gold4H2S
Gold debenture 48
Gold 48
1917 FA
Western Teleph & Tel 58.1932 J-J
Wisconsin Cent 1st gen 481949 J-J
Wisconsin Valley Ist 7s.. 1909 J-J

9G\101i6

00

1

99
93
100

J-J

F-A
1914 M-S
1916 M-N

i02H2l02H2
137
1371*

30

97 >a 9S

A-O
A-O
A-O
A-O

Union Pac RR&lgr g48.1947
1st lien conv 48
1911
United Fruit conv gen 5s. 1911
U S Steel Corp 10-60 yr 5s. 1963
West End Street Ry 4s. ... 19 1

106
97
97
10 100 101
100>8l01

100^8 May'OG

103

J-J
J J

Gs

!>S

105 H2 106
120=6 1231,

1734

F-A

lOi"*
101 Hj

99

101)3.

115 120
77 H2 79
21H. 22

J-J

Jixgh,

101
100

115 Apr'OG
10114 Sep 'Ofi

J'ly
•riy

1;

106

114

10U34

A-O
A-O
A-O

1906
1907
1908
1915
New England cons g 5s... 1945
Boston Term 1st 4s
1939
Old Colony gold 4s
1924
Oreg Ry <fe Nav con g 4s. .1946
Oreg Sh Lino Ist g Gs
1922
Repub Valley 1st s 6s. ..1919
Rutland 1st con gen 4i2S.1941
Rutland-Canadian 1st 481949
Savannali Klec 1st cons 5s. 1952
Seattle Elec 1st g 5s
1930
Terre Haute Klec g 5s
1929
Torrington 1st g 6s
1918

100
105 Hj
99 5g
94 Hi

100

100

I8t7s..l9(t7 J-J

6s
6s
58

1.^

1051-1

II2I4 Jan '03
106 Feb '06

98
97 »3

<feQ coll tr 4s 1921 J-J

14

i.<0

105

100

A-O
98
A-O
M-N 100
M-S 100
M-N
M-S
M-S
FremtElk&MoVl8t6s..l933 A-O 133
Unstamped Ist 6s
1933 A-O

1

107
99 Hi
124 14

97'<i

122
126
109
102

J-J
J-J

1

'{){)%

87

105

105

120'8

96
92

Low

101
128 "8 J'ue'04

lOSHi Mar'OG
120^8
V^O-'s

cfe

Maine Cent cons 1st 7s... 1912
Cons Ist 4s
1912
Maro Hough & Ont Ist 6s. 1925
Mexican Central cons 4 s.. 1911
Jan 1939
1st cons inc3s
2d cons inc 3s
Jan 1939
Mich Telep cons 5s tr rec.l92'.i
Minne Gen Klec con g 5s 192!i
New Eng Cot Yarn 5s 1929

Jianpe
Since

January 1

1003,

99

V Kan C Ft S Gull l8t7«..19(W J-D
Kan C Ft Scott M Gs
192S M-N
1934 M-S
KanCM& Bgen4s

114

111

....

A-O
A-O

Assented income 5s
1934 M-S
<fc Br Ist 5sl929 A-O

99 By Jan '06
93 Mar'OG

J-J

101

ifc

114

J-J

A-O

Kan C & M Ky

101

.

W

Registered 48

11103

93 14

Eeb'OG
105 3a Nov'05
99 Maj'06
105 la Jan '06

llOHz.

J-J

&

104 14

99^4

week's
Range or
Last Sale

18

Bid
Ask Low
High
looHjloi
lOl
Feb '06

1910 J-J

58... 1913
la Falls cfe Sioux C 1st 7s.. 191
Kan C Clin Spr Ist 6s. . .192

883*

114 Mar'06
112 "2 Jan '03
111 Apr'OG
102 Sep '05
99 Apr'Ot;
100 J'ue'Ol
129 J'iie'05
111 ^8 J'ly '05
88I4
88 I4
109 May '05

J-J

F-A
J-J
J-J

M

10

"^

Price
Ji'ridav

May

Non-conveitdeben

110 Feb '04
104 VaApr'OO
103 14 May' 05

J-l)

M-N
1921 M-S

B& SWsl4s

11101

niinois Steel deben 5s

95

88
104

Apr'OG

95

M-S

Cent Vermt Ist g4s..Mayl920
B & Q Iowa Div 1st 5s. 1919
1919
Iowa Div 1st 4s
1913
Debenture 58
1922
Denver Exten 4s
Nebraska Exten 48
1927

QtNor C B

101

94

90

Mar'dC

104

lOlH

92^2

J

Loio JJif/fi
9812 100

9373
<1S7,
921^
93
SS^j Jaii'OC,

83

Si

101

.

1908
1924
1907
191G
4s.
1944
Boston & Maine 4M2S
Boston Terminal 1st S'as. 1947
1918
Bur& MoRiv ex Gs
1918
Non.exeinpt Gs
1910
Sinking lund 4s
1917
Butte & Boston 1st Gs
Cedar Rap & Mo K 1st 7s.l91G
1909
2d 7s

Miqh

Ask Low
9J

92^4 Salo

Atch <fc Nebraska 1st 78.. 1908 M-S
Atch Top & a Fe sen k 4s. 1 995 A-O
J'ly 199" Nov
Adjustment g 4s
68.

Jamiary

BON !>>
BOSTON STOCK KXCH'GE
WBKK Ending May 18

Jianqe
Since

Last Sale

18

10.

J-J
J-J
J-J

or

Range

Friday

Am BeU Telephone 48. ...1908
Am Telep & Tel coll tr 48.192P
Am Writ Paper 1st s 5s 1919
Boston Elect Light Ist
Consol 5s
Boston <fe LoweU 4s

1147

Boston Bond Becord.

.

.

THE CHRONICLE.

1148

[Vol. Lxixii.

Investment and Slailroad Intelligence*

RAILROAD GROSS EARNINOS.
The following table shows the gross eamins^s 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 Jmy 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
The returns of the street railways are brought together separately on a subsequent page.
period.
Julv 1

Latest Gross Earnings.

Week

Roads,

Previous
Year.

Current
Year.

or

Month.

to Latest

Current
Year.

2,474,708
1,149,997
1,067,683
Inc. 65
58,322,289
2,731,469
813,075
18,305,170
127,180
64,002,209
1,824,756
49,326
35,726
7,097,885
1,208,325
1,265,469
4,625,700
53,124,404

2,089.920
1,152,545
1,210,215
4,607
50,653,056
2,444,259
757,543
16,170,176
108 ,.500
56.081.719
1,588.658
47.422
35.025
7,003,087
823 ,955
1.151.489
3.286,100
43.618.579
8,798,544
16,592,078
103,280
15 401.557
24.434
9.242,311
6,627,432
4,725,157
37.880,576
41,726.806
9,177.502
1.263,371

$

Ala Gt Southern
Ala N O & Texas
N O & N East.
Ala & Vicksb'g
Vicksb Sh & P.
Alleehenv Valley.
Atch Top & S Fe.
Atlanta & Char..

See Southe rn

Ry Sy stem

Dei

'loi

&

Ir

December
March

Inc. 9

.

RR

wk May
wk May

1st
1st

Erie
Fairchild &
Fon Johnst
Georgia

March

N E. March
& Gl. March

Ga South &

Fla.. See Southe

March

Gr Trunk System 1st wk May
Gr Trunk West 4th wk Apr
Det Gr H & M. 4th wk Apr
Canada Atlan. 4th wk Apr

Great Northern.. April

Montana

Cent'l April
Total system.. April

£ulf & Shiplsland 1st wk
Hocking Valley.. March
IlUnois Central.. April
Illinois Southern. April
Int & Gt North 'n 2d wk
a Interoc (Mex). 2d wk
Iowa Central
2d wk

Kanawha & Mich March
Kan City South'n March

Lehigh Valley
March
Lexing & East'n. March
Long Island
March
Louisiana & Ark. March
Louisv & Nashv. 1st wk

Macon & Birm
Manis

239,196
105,119
109,996
5,984
5,960,923
262,159
88,795
2,161,006
10,669
5,723,534
224,463
3,860
3,595
173,746
94,133
95,513
80,400
921,000
178,000

9,857,6.53

.930,003 18,814,376
115,580
2,513
1,843,344 18,204,218
29,376
4,109
1

884,550 9,081,016
128,963 7,668,362
112,146 5,019,941
4,291,625 41,965,276
4,861,789 47,437,854
986,769 9,948,047
39,876 1,436,465
vstera bel ow.
1,818,272 17,803.315 17,070,152
238,929
150,724 1,622,617 1,492.211
189,246 10,113.232 8,118,482
177,822
27,028
224,362
399.263
448,720
42,379
47.643
155,142
13,551
192,652
27,951
346,051
318,600 16,908,699 14,639,790
728,938
95,620
841 .099

May
May
May
May

59,595
58,665
4,184,061
1,466
54,256
273,734
Ry. S
729,383
101,666
35,549
37,443
3,945,887
227,070
4,172,957
50,632
561.237
4,069,290
14,006
112,600
140,681
48,966
177,474
701 ,057
2,820,631
46,463

m

7nc.48,

107,406
803,565
10,990
February _
39,767
April
7,875
March
28,541
February . 2,229,926
2d wk May
158,155
4th wk Apr
149,500
4th wk Apr
31,860
February .
8,133
1st wk May
13,318
2d wk May
61,061
1st wk May
212,427
2d wk May 768,000
2d wk May
30,000
2d wk May
798,000

May

April

& No East.

Manistique

Maryland

& Penn

aKexican

Cent'l.

a Mexican Intern

a Mexican Ry
a Mexican South.

Millen & Southw.
31ineral Range
Minneap & St L.

MSt P &SStM.
Mo Pac & Iron Mt
Central Branch
Total

Roads.

Month.

Mo Kan & Texas 2d wk May
Mob Jack & K C March
Mobile & Ohio... .''ee Southe
NashCh &St L.. March
Nat RRof Mex.. 2d wk May

54,439 3,490,112
54,909 2,572,950
3,602,739 37,880,904
17,950
2,926
584,764
56,116
250,184 2,183,166
ystem bel ow.
653,328 32,867,052
131,410 4,531,721
24,731 1,337,073
46,728
3,036,638 40,923,739
211,254 2,281 ,093
3,247,892 43,204,832
42,369 1,798,495
402,130 5,054,320
3,751,192 42,912,424
19,132
294,172
108,300 5,922.496
118,802 5.444,982
42,012 2,574.344
142,272 1,630,236
658,982 5,646,520
2,786,961 25,381,514
41,883
386,783
018
7»c.571.
82,129
754,737
730,815 36,266,700
10,546
124,304
35,689:
267,056
5,284
74,057
24,784
270,009
2,048,138 18,185,421
135,398 6,146,861
144,200 5.434.300
28,655 1.001.336
6,015
59,379
13,066
631,072
50,766 3,213,957
137,484 9,820,741
708,000 36,922.884
27,000 1 ,661 .726
735,000 38.584,610

2,919,892
2,271,074
33,445,166
47,973
529,914
1,890,884

30,688,683
4,346,064
1,233.338

34.587,112
1,987,161
36,574,273
1,590,139
4,511,487
41,576,878
229,639
5.543,267
5.277,675
2,240,977
1.319.323
5.293.814
22,867.645
337.235
410
609.791
33,312,242
114,657
2?5.027
66,382
237,264
16,764,691
5,727.735
5,023,540
967,287
52,521
577,460
2,617.497
7,362,285
36,292,675
1,394,862
37.687,537

Nevada Central..

April

Nev-Cal-Oregon. April

N Y C & Hud Riv
NY Ont & West.
N Y Susq & West
Norfolk & West'n

April

March
March
March
Northern Central March
Northern Pacific April
Ohio Riv & West February
Pacific Coast Co.. March

Monthly Summaries.

week
2nd week
?rd week
4th week
1st week
•2nd week
3rd week
-4th week
1st week
"2nd week
3rd week
4th week
1st week
2nd week

Feb
Feb
Feb
Feb

Mch
Mch
Mch
Mch
Apr
Apr
Apr
Abr

May
May

(40 roads).
(41 roads).
(42 roadsj.
(44 roads).
(42 roads).
(42 roads).
(42 roads).
(43 roads).
(42 roads)
(42 roads).
(42 roads).
(41 roads).
(39 roads).
(20 roads).

Cur'nt Year Prev's Year Inc. or Dec.

8,346,622
8,666,444
8,985,018
10,321,944
8,946,686
9,212.578
8,890,918
13,534,041
8,642,723
8,939,387
8,973.706'

11,547,633
8.457.494
4,988,563

6,750,991
6,586,963
6.892,688
8,599,053
8,022.413
8,218,451
8,377,487
12,556,952
7.762,585
8,000,423
7,974,186
10,295,745
7,329,000
4,375.856

+ 1.595,631
+ 2,079,481
+ 2,092,930
+ 1,722.891
+ 924,273
+ 994,127
+ 513,431
+ 977,089
+ 880.138
+ 938,964
+ 999.520
+ 1.251.888
+ 1.128,494
+ 612,707

%

.

rfPenn-EastP&E March
dWest P & E.. March
PhUaBalt &W'sh March
Phila & Erie
March
Pittsb C C & St L March

& S'port. March
Reading Railway March
Coal & Iron Co March
Total both cos. March
Rich Fr'ksb & P_ March
Rio Grande Jet.. February .
Rio Grande So
1st wk May
Rock Island Sys. March
St Jos &GrIsl._. March
e St L & San Fran March
St L Southwest.. 2d wk May
Seaboard Air Line February .
Sierra Railway.. April
Southern Indiana April
So Pacific Co c... February .
Southern Ry Sys
Southern Ry fc. 1st wk May
Mobile & Ohio 1st wk May
Raleigh

Previous
Year.

327,512
noo,67l 6
66,45
Kv. S! ystem t)el
903.705
981 .985
259.117
252,904
347,1971

rn

9,600
3.311
17,194
18.125
6,687,084 6.555.112
617,877 586.065
263.033
237,969
2,548,019 2,176.614
967,710 836,910
4,943.515! 4,152,321
12.342
16,231
453 ..580: 452,019
12589 104 10542 304
/nc. 74; 2,400
1,264,507 1.212,507
568,1381 590,914
2,439.786 2.180,633
5,414
6,648,
3,679,953' 3,402,253
3,059,713 1,928,818
6,739,666 5,331,071
130,558
145,9961
29.002
44,830
9,514!
8,605
4.167.877, 3,795.035
124,147
110,864
3,716,187i 3,254.441
151.670
163,920!
1,318,608 1.043,850
29.997
30,748
90,586
101.266
8,001,844 6,581,998

July 1

to Lait'sl

Date.

Prevwu»

Current
Year.

Year.

18,518,003 17.595.057
8 773,105
502,271

ow.
8,032.643 7,597,957
11.865.538 10,189,341
46.518
28,828
188,323
179,380
74,885,374 67,098,604
5,665,157 5,156,537
2,116,386 1.993,390
21,044,071 17,598,892
8,400,779 7.656,979
51,290,937 42,825,793
155,824
135.159
4.882,757 4.577,099
108035 020 89,991,420
/nc.7.34 6,300
11,233,001
6,375,154
21,242,841
46,224
31,208,221
26.920 952
58.129,173
1,211,191

10,279,801
5,735,570
18.614,624
36,264
27.133,221
25.111.133
52,244.354
1.067,372

456.870
380.749
477,421
407,131
39,335,532 33,501,069
1.159,960
947,995
32.296.898 29,341.001
7.825,609 7.799.463
9.870,531 8,676.982
1,195.250 1,165,281
69,786,157 63.240.992

864, 774 45,767 736 41,329.835
973.625
158,536
139, 041 7,900, 072 6.991,405
Cin NO & TexP 4th wk Apr
241,876
212, 988 6,945 196 6,093,562
Ala Great Sou. 4th wk Apr
102,802
90, 955 3,141 594 2,758,386
Ga South & Fla April
144,290
133, 076 1.600, 314 1.432.714
835 742
Texas Central
12, 832
731.197
15,950
1st wk May
Texas & Pacific. 2d wk May
188, .010 11,480 300 11.317,622
209,198
TexS V
13,000
W.. February .
8, 700
Tidewater & W'n January ..
55.575
9.798
53 ,070
6, 633
Tol & Ohio Cent. March
377.772
253, 245 3,289, ,032 2,941,282
T0IP& West
16, ,727
1,113 ,086 1.087,340
1st wk May
15,017
TolStL&W
59 ,233 3,591 ,312 3,228,400
67.559
2d wk May
Tombigbee Valley March
3, 362
4.596
623' ,982
Tor Ham & Buff. April
57 503
549,780
63,244
Un Pacific System March
.606.636
5.106.913 4.779 ,801 50,767 ,524
Virginia & So W'n April
823 ,217
544,204
68, ,885
87.484
Wabash
.714,157
407 ,162 21,552 ,165
2d wk May
437,665
WesternMaryland 2d wk May 104,217
80 ,214 3,079 ,829
,355,711
,232,370
Jersey & Sea'e March
340.310 299, 510 3,713 ,470
Wheeling & L E. 2d wk May
96 ,164 4.662 ,398]
,857,724
76.919
134 ,445
W'msport & N Br March
125,759
14,871
12, 329
Wisconsin Central March
.940.839
612,512 558, 143 5,319 ,658
150,863
Wrights & Tenn. March
21, 866
164, ,333
21,698
Yazoo & Miss Val April
747,603 682, 994 7.222 ,073
,506,438

&N

W

Various Fiscal Years.

Period.

Allegheny Valley
Atlanta & Charl Air Line
Bellefonte Central
& St Louis
Peoria & Eastern
a Interoceanic of Mexico
Manistee & North Eastern
Manistique
Maryland & Pennsylvania
a Mexican International
a Mexican Railway
a Mexican Southern
National RR of Mexico
New York Central
Northern Central
d Penn East of Pitts & E...
d West of Pitts & E
Phila Baltimore & Wash
Philadelphia & Erie
Pitts Cin Chic & St Louis
Rio Grande Jet

aCC

—

Texas

&

Pacific

West Jersey & Seashore

AGGREGATES OF GROSS EARNINGS—Weekly

1st

Current
Year.

or

.

and
--

Week

I)

277,816
124,058
121,387

April
April
April

Ann Arbor Syst
Dul So Sh & Atl.

RR

belo

Pacific.

6,696,958
February .
356,266
104,140
Atlantic & Birm. March
2,415,469
March
Atl Coast Line
15,368
Bait & Ann SL.. February .
6,304,733
April
Bait & Ohio
251,932
Bangor & Aroost. March
3,132
Bellefonte Central April
3,441
Bridgt & Saco R. March
73 ,552
Roch & Pitts 2d \vk May
Buff
151,209
Buffalo & Susq.- March
93,080
Cal Northwestern March
130,500
Canadian North. 2d wk May
Canadian Pacific. 2d wk May 1,271,000
191,000
Cent'l of Georgia. 1st wk May
2,101,100
Cent'l of N Jersey March
2,649
Chattan Southern 1st wk May
2,146,559
Cheaap & Oliio.. March
4,582
Chesterf'd & Lane March
996,081
Chic & Alton Ry. March
152,356
Chic Gt Western. 2d wk May
Chiclnd & Louisv 1st wk May 115,530
4,537,679
March
Chic Milw & St P.
5,067,306
Chic & North W. March
1,012,176
& O March
Chic St P
42,611
4th wk Apr
Term Tr
Chic
Cin N () & TPac. See souine rn Ry. S
1,908,854
CI Cin Ch & St L. March
249,315
Peoria & East'n March
161,561
Colorado Midland March
wk May 225,067
h Col & South Sys 1st
28,594
Col Newb & Lau. March
49,179
February .
Copper Range
March
18,977
Cornwall
41,512
Cornwall & Leb.. March
Denver & Rio Gr. 2d wk May 375,900
108,694
Det & Mackinac. March

M

Latest Gross Earnings.

Date.

Previous
Year.

Jan

1

Dec
Feb
Apr

1
1
1

Mch
Mch
May

1

Marl
Jan
Jan
Jan
Jan
Jan
Jan

1
1

Mchl
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan

1
1

1
1
1
1
1
1
1
1

1

Decl
Jan
Jan

1
1

Feb

Apr

Mch
May
Apr
Apr

May
Apr

Mch
Mch
Mch
Mch
Mch
Mch
Feb

Mav
Mch

Previous
Year.

Current
Year.
Inc. 81.

3.975,698
18,173

88,527
3,593, 773
19 601

4,928 863
702 456
739,974
2,483,144 2,423 ,287
7S 836
89,346
22.976
18 933
24 784
28,541
2.870.184 2.398 ,145
2,272.400 2,069 ,600
424,050
407 601
5,220,163 4.519 564
27,979.338 24.998 200
2,751,025 2,247 125
35,544,402 28,541, 902
Inc. 2,60 6,300
,3,549,063 3,249 063
1,743,496 1,527 925
7,033,629 6,124 179
117 030
148.525
4,995,896 4,321 ,268
870,164
700 164
5,516,5.38

and Monthly.

Monthly Summaries.

Cur'nt Year Prev's Year Inc. or Dec.
S

23.63
31.57
30.36
20.03
11.52
12.10
6.13
7.78
11.34
11.74
12. ,54

12.16
15.40
13.99

Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month

1905
1905
1905
1905
1905
1905
1905
1905
1905
1906
1906

Mch

(115
(lis
(104
(115
(115
(115
(115
(115
(113
(117
(lis
1901) (110

Apr

1906

April

May
June
July

Aug
Sept
Oct

Nov
Dec
Jan
Fel)

rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
nisi
rds)
(56 rds)

136,595,868
144,103,256
125,942,575
143,658,287
154,972.550
161.431.629
170.515,148
165,977,137
159.312,944
ir)2,9S0.485
I42,(i56,542

159,258,890
52,409,705

127,237,317
129,712,739
114,845,032
130,328,530
141,867,461
147,709,816
157,100,827
150,405,695
142,053,423
126,555,852
112,895,257
143.978,440
46,946,012

+ 9,358 .551
+ 14,390 ,517
+ 11,097 ,543
+ 13,329 ,757
+ 13,105 .089
+ 13,721 ,813
+ 13,414 .321
+ 15,571 .442

+ 17,259 .521
+ 26,424 .633
+ 29,761 ,285
+ 15,280 ,450
+ 5,463 ,693

7.35
11.09
9.66
10.02
9.23
9.28
8.54
10.35
12.15
20.88
26.36
10.61
11.64

a Mexican currency. 6 IncVudes earnings of Gulf & Chicago Division, c Includes the Houston & Texas Central and its subsidiary lines in both
/^Covers lines directly operated, e Includes the Chicago & Eastern Illinois in both years, h Includes earnings of Col. & South., Ft.
Worth & Denver City and all affiliated lines, k Atlanta Knoxville & Northern included in both years since April 1; it had previously been
'Included
1905 since Jan. 1: earnin^T' of Transylvania Railroad included from Jan. 1 1906 and of East Division of Tennessee Centraa from I>ec. 1
I90o only.
I Figures previously p'Ublishcd for March were erroneous.
?^*'"®u

m

m

i

May

THE CHRONICLE.

19 1906.]

For the first week of May our final statement covers
39 roads and shows 15.40% increase in the aggregate over
the same week last year.
May.

Previously reported (23 roads)

Canadian Northern
Canadian Pacific
Central of Georgia
Chic Ind & Louisville

&

$

4,579,011
72,200

908,000
178,000
112,146

550,173
82,100
361 ,000
13,000
3,384

225,067

189,246

59,595
58,665
50,632
803 ,.565
13,318
212,427
158,536
9,514
15,950
15,017
102,171

54,439
54,909
42,369
730,815
13,066
137,484
139,041
8,605
12,832
16,727
80,110

Decrease
S

35,821

5,156
3,756
8,263
72,750
252
74,943
19,495
909
3,118

Nashville

Mineral Range _ _
Minn St P & S S M

Mobile & Ohio
Rio Grande Southern
Texas CentralToledo Peoria & Western
Western Maryland
Total (39 roads)

S

5,003,207
154,300
1,269,000
191,000
115,530

Colorado & Southern (incl.
Ft Worth & Denver City).
& Ironton
Detroit Toledo
(Ann Arbor system)
Duluth South Shore & Atl.-_
Gulf & Ship Island.
Louisville

Increase

$

First week of

1905.

8,457,494

Net increase (15.40%)

125,977

1,710
22",06i

7,329,000 1,256,181
1,128,494

127 687

—

Latest Gross Earnings by Weeks. In the table which
follows we sum up separately the earnings for the second
week of May.
The table covers 20 roads and shows 13.99%
increase in the aggregate over the same week last year.
Second week of May.
Buflfalo

Rochester

&

1906.

Iowa Central
Mexican International

&

73,552
130,500

Pittsb'gh

Canadian Northern
Canadian Pacific
Chicago Great We.stern
Denver & Rio Grande
International & Gt. Northern
Interoceanic of Mexico
Minneapolis

,271 ,000

1

152,356
375,900
112,600

4,988,563

4,375,856

.

&

318,600
108,300
118,802
42,012
50,766
327,512
708,000
27,000
252,904
151,670
188,010
59,233
407,162
80,214
96,164

St. Louis

National RR. of Mexico
St Louis Southwestern

Wabash

Increase. Decrease.

$
173,746
80,400
921,000
128,963

140,681
48,966
158,155
61,061
347,197
768,000
30,000
259,117
163,920
209,198
67,559
437,665
104,217
76,919

_

Missouri Kansas & Texas
Missouri Pacific & Iron Mt
Central Branch

Texas & Pacific
Toledo St Louis

1905.

$

Western..

Western Maryland
Wheeling & take Erie
Total (20 roads)
Net increase (13.99%).

135, .398

100,194

50,100
350,000
23,393
57,300
4,300
21,879
6,954
22,757
10,295
19,685
60,000
3,000
6,213
12,250
21,188
8,326
30,.503
24,003
19,245

732,146
612,707

119,439

—

Gross Earn'gs
Current
Previous
Year.
Year.
$
$

Roads.
Central of

1906.

1149

,

—

returns

to Mch 31
1 to Mch 31

,

Boston & Maine. b
Jan 1 to Mch 31.

Mch 31Bos Rev Bch & Lvnn.t
Jan 1 to Mch 31
Julyl to Mch 31
July

Bridge

1

&

to

.Saco
July 1 to

9,100,725 7,941,108
.29.480,606 26,884,844

.

Riv.b.Mch

131,511
520,603
3,441
35,726
716,495

108,927
467,076
3. .595

1,802,023
7,728,755

1,482,309
7,146,805

255
61,692
685

def .5, 202
47,961
1,491

def.

Mch 31
1 1 ,072
35,025
11,8.53
Buff Roch & Pitts, b. .Mch
652,863
205,069
303,805
July 1 to Mch 31
6,6.54,220
5,998,925 3,036,278 2,302,782
Buffalo & Susq .a
Mch
151,209
94,133
33,061
59,322
Julyl to Mch 31
1 ,208 ,325
823 ,955
448 ,939
263,523
California Northw.a. .Mch
93,080
9.5,513
5.021
6,578
July
to Mch 31
1,265,469
1,151,489
478.328
292,913
Canadian Northern
Mch 441,600
273,100
117,400
70,600
July 1 to Mch 31
3,796,100 2,850.600 1.290,100
942.200
Canadian Pacific.
Mch 5,093,286 4,132,061 1,844,064 1,182,827
Julyl to Mch 31 . .45,122,404 37.593,579 16, .505,041 11,052,417
Central of Georgia. a.. Mch 1,047,780
937,.566
326,397
287,851
8,810,653 7,874,065 2,569,019 2,189 370
k^ July 1 to Mch 31
1

S

c461 ,674
cl,251,102

c220,382
c63,588
cdef6.978
July
c778.460
C257.716
c49,273
Central of New Jer.b. Mch 2,101,100 1,930,003
976,215
906,416
July 1 to Mch 31
18,814,376 16,592,078 9,162,479 7,917,766
Chattanooga South. a.Mch
12,917
11.0.38
2,403
1,505
to Mch 31
July 1
102,213
91,6,59
8,244
7,527
Chesapeake & Ohio. b. Mch 2,146,5,59 1.843.344
658,962
853,090
Julyl to Mch 31
18,204.218 15,401,557 7.242,609 5.546,315
&Lancas. Mch
Chesterfield
4,582
4,109
2,462
2,067
July 1 to Mch 31
29,376
24,434
12,449
7,208
Chicago & Alton. a. -.Mch
996,081
884,550
312,145
279,225
Julyl to Mch 31
9,081,016 9.242,311 2,791,033 3.137.422
Chicago Gt We.stern. b. Mch
761.205
692,673
197,121
188,805
Julyl to Mch 31
6,718,873 5,783,165 2,002,954 1.673,688
Chicind &Louisv.a..Mch
454,307
486,745
130,477
166.391
4.420.150 4.135.746 1,524,160 1,469,777
July 1 to Mch 31
Chic Milw & St Paul. a. Mch 4,537,679 4,291,625 1,808,468 1,816,175
Julyl to Mch 31
41,965,276 37,880,576 14,781,628 14,146.194
Chicago Term Trans, b Mch
148,267
119,362
34,719
33,933
July 1 to Mch 31
1,301,069
1,135,260
461,594
411,313
See under Southern Ry System below.
Cin New Orl & Tex Pac
CI Cin Chic & St L.b-. Mch 1,908,854
1.818,272
405,311
429,598
Jan 1 to Mch 31
5,516,538 4,928.863
1,197,056 1,002,567
Peoria & Eastern b Mch
249,315
238,929
107,246
40.492
739,974
Jan 1 to Mch 31
702,456
261,335
190,740
161,561
Colorado Midland. a. .Mch
150,724
32.536
17,419
1,622,617 1,492,211
July 1 to Mch 31
429.135
256,415
955,648
Colorado Southern, a .Mch
778,320
237.337
165,116
July 1 to Mch 31
9,027,638 7,239,624 2,761.618 1.802.805
28.594
Colum Newb & Lau.a Mch
27,028
7,630
9,660
224,362
July 1 to Mch 31
177,822
46,321
38,122
Copper Range. a
Feb
49,179
42,379
13,795
10.687
July 1 to Feb 28
448,720
399,263
190,131
153.405
Cornwall-a
Mch
18,977
13,551
7.937
7.228
Julyl to Mch 31
155,142
47,643
79.353
12.401
Cornwall & Lebanon. bMch
41 ,512
27.951
22.999
14,852
July 1 to Mch 31
346,051
192,652
195,818
79.593
Del Lack & Western . b
Jan 1 to Mch 31
2,683,863 2,470,605 1,380,322
1,318,245
July 1 to Mch 31
8,595,342 8,569,766 4,321.460 4,550,780
Syracuse Bing & N Y _ b
Jan 1 to Mch 31
314,316
275,121
146,589
122,594
July 1 to Mch 31
1,040,286
934,757
424,149
363,811
Denv & Rio Grande. b. Mch 1,482,707 1,308,146
449,463
497,473
Julyl to Mch 31
14,644,999 12.729,890 5,699.442 5,194,092
Mackinac. a-Mch
Detroit &
108,694
95,620 gdefl 1,139
37,110
July 1 to Mch 31
841,099
728.938
172,294
231 ,826
DetTol & Ironton _b.. Mch
347,597
277,781
121,400
67,910
July 1 to Mch 31
3,158,834 2,628,109 1,070,819
598,400
1

—

Dunkirk AUeg V & Pitts. b—
Jan ltoMch31

62,800
.58,311
2,162
def 2 ,257
July 1 to Mch 31
236,099
238,329
17,588
67,849
Dul So Shore & Atl- b-Mch
252,309
238,392
77,523
91,406
Julyl to Mch 31
2,274,240 1,988,216
757,466
666,209
Erie.a
Mch 4,184,061 3,602,739 1,036,782
584,548
Julyl to Mch 31
37,880,904 33,445,166 10,709,964 8,637.633
Fairchild & North. b. Mch
1,456
2,926
294
1.421
July 1 to Mch 31
17,950
47,973
4,900
8.249
Fonda Johns &G10V. a. Mch
54.256
22,154
56,116
23,895
July 1 to Mch 31
584,764
529,914
280.495
248,550
Gene.ssee & Wyoming. b
Jan 1 to Mch 31
27,815
28,625
def 2 ,284
3,138
Julyl to Mch31
110,881
109,655
34,592
33,848
Georgia RR.a
Mch 273,734
250,184
57,033
92,989
July 1 to Mch 31
2.183,166 1,890,884
659,875
575,719
Georgia Southern & Florida See under Southern Ry system below.

—

Grand Trunk Ry-.. Mch 2,479,481

Gross Earn'gs
-Net Earnings
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
Roads.
$
$
$
S
AtChTop&SFe.b..-Mch 6,696,958 5,960,923 rf2,404,160 d2,015,915
July 1 to Mch 31
58,322,289 50,653,056d22,172,127dl7,271 ,876
Atl & Charl Air Line. a .Feb
356,266
262,159
67,200
Mch 1 to Feb 28
3,975,698 3,593,773
1,083,853
Atlantic & Birming . a . Mch
1 04 1 40
88 ,795
25,887
July 1 to Mch 31
813,075
757,543
234,585
Atlantic Coast Line. a. Mch 2,415,469
2,161,006
847,564
July 1 to Mch 31
18,305,170 16.170,176
5.876,939
Bait & Annap Sh L.a.Feb
15,368
10,669
2,954
July 1 to Feb 28
127,180
108,500
34,844
Baltimore & Ohio. b.. Apr 6,304,7.33 5, 723, .534
1,789,940
19,317,383
Bangor&Aroostook.b.Mch
251,932
224,463
111,244
97,092
July 1 to Mch 31
1,824,756 1,588,658
694,528
576,881
Bellefonte Central, b -Apr
3,132
721
3,860
183
Jan 1 to Apr 30
18,173
19,601
3,195
6.827
Boston & Albanv b
Jan 1 to Mch 31.
2,635,010 2,314,079
741,689
436,316
July 1 to Mch 31.
8,419,972 7,721,012 2,750,532 2,328,283

$

New England, b

Jan

Net Earnings Monthly to Latest Dates. The following
shows the gross and net earnings to latest dates of all STEAM
railroads furnishing monthly statements.
The compilation
includes every road from which we can get a return of this
character, and in that form is given once a month.
Early
returns are published from week to week as soon as issued
but for the convenience fo our readers all the roads making
returns are brought together here in the week in which we
publish our monthly article on net earnings say, about the
20th of the month. Besides the Companies furnishing monthly
returns, we have added this time the roads which make quarterly Grand Trunk of Canada
r

Net Earnings
Previous
Year.

Current
Year.

2,259.515
711,969
678.876
22,679,348 21,201,878 6,178,021
5,869,483
Grand Trunk West. Mch
481,297
515,849
93,437
102,196
July 1 to Mch 31
4,124,796 3,846,869
672,170
552,380
Det Gr Hav & Milw. Mch
149,401
134.802
26.765
22,873
July 1 to Mch 31
340,475
320,464
1,223,068
1,135,913
Canada Atlantic... Mch
157.188
136,262
36,479
36,986
Greenwich & Johns' ville b
Jan 1 to Mch 31
17,090
16,281
5,633
5,791
July 1 to Mch 31
55,058
56,883
19,444
22,087
Gulf & Ship Island. a. Mch
198,908
176,321
60,289
53,202
July 1 to Mch 31
1,565,975
1,397,203
509,660
347,794
Hocking Valley. a
Mch 561,237
402,130
177,174
82.239
July 1 to Mch 31
5,054,320 4.511,487 1,866,746 1,479,824
Illinois Central. a.
Mch 4,640,563 4,355,593 1,536,971 1,398,423
July 1 to Mch 31
38,843,134 37,825,686 12,064,648 11,953.938
Interborough Rap Tran Co
Manhattan Elevated
Jan 1 to Mch 31
3,266.088 3,105,605 1,867,453 1,736.056
Julyl to Mch 31
9,363,849 9,999,318 5,257,991 5.831.842
Subway Division
Jan 1 to Mch 31
787,349
1,279,879
2,052,641
1,477,116
Julyl to Mch 31
2,871,238 fl. 140, 186
6.041.578 /2, 289, 207
Totallboth divisions
Jan 1 to Mch 31.
3,147,332 2,523,405
6,318,729 4,582,721
Julyl to Mch 31 ...14,405,427/12,288,525 8,129,229 f6,972,028
196,180
158,619
« Interoceanic of Mex.Mch
623,845
607,326
Jan 1 to Mch 31
529,640
370,368
1,675,094
1,579,263
ft.59, 7,50
Iowa Central. a
/i95,277
.Mch
275,159
242,888
July 1 to Mch 31
/i31 1.820
2,257.274
ft597,137
1,948,675
Kanawha & Mich. a .Mch
23,175
30,956
177,474
142,272
174.576
July 1 to Mch 31
434,614
1.630,236 1,319,323
189,183
Kan City Southern. a. Mch 701,057
190,289
658.982
July 1 to Mch 31
5.646,520 5,293,814 1,3.55.714 1,353,429
b
Lake Shore it Midi South.
.Ian
8,836,50"
2.100,683 2,325,051
to Mrli HI
10,023,2,52
July 1 to Mch 31
30,457,118 26,859,312 5,047,883 6,000.862
Lehigh Valley. b
Mch 2,820,631 2,786,961 01,207,595 01,191,663
July 1 to Mch 31
25,381,514 22,867,645 o9, 852, 204 09,000,086
16,99.'?
25,051
Lexington & East. b.. Mch
41,883
46,463
164.796
106,002
Julyl to Mch 31
337,235
386,783
DiT 15.303
Long l.sland
.b
;
Inc 48.018
Mch
Jan 1 fo Mch 31
1.216,726 defl63,636 (lefl2S,074
1,404,623
I,0ii2,ll2
834,817
July 1 to Mch 31... » 5,877,883 5,335,542

July

1

to

1

-

Mch

31

—— — — — —
— — —

— ——
—

THE CHRONICLE.

1150
——Gross Eam'gs

Net EarningsPrevious
Year

Current
Year.

Roads.
Louisiana & Ark. a
July 1 to Mch 31

— Mch

Previous
Ytar.

$

$

%

107.406
754,737

%
36,051

—

'

July

to

1

Mch

31

5,347
21.731

2.900
10,196

2,746
8.119

25
1,931

Reading Company
Phila & Reading, b. Mch 3,679,953
July

1

to

Mch

31

3,402.253
1,413,703 1,598,756
31,208,221 27,133,221 12,438,466 12,563,755

Reading Co. (Concluded)
Coal & Iron Co. b... Mch 3,059,713 1.928,818
225,973
193,457
July 1 to Mch 31
26,920,952 25,111,133 1,839,870 1,790,743
Total both co's.b... Mch 6.739.666 5,331,071
1,639,676 1,792,213
July 1 to Mch 31
58,129,173 52,244,354 14,278,336 14,354,498
Reading Co.b
Mch i
135,703
111,082
July 1 to Mch 31
1,128,253
1,052,601
Total all co's.b
Mch
1,775,380 1,903,296
July 1 to Mch 31
15,406,590 15,407,100
Rich Fred & Potomac. Mch
145,996
130,558
49,453
39,377
July 1 to Mch 31
1,211,191
1,067.372
411,951
324,939
Rio Grande Jet
Feb
44,830
29,002
nl3,449
?i8.701
Dec 1 to Feb 28
148,525
117,030
n44,557
n35,109
Rio Grande South. b.Mch
41,009
39,553
15,958
19,461
July 1 to Mch 31
428,145
363,554
188,461
179,855
Rock Isl System.
.Mch 4,167,877 3,795,035 1,049,195
859,915
Julyl to Mch 31
.39,335,532 33,501,069 11,738,154 9,301,499

RR.b

Rutland
Jan

1

July
St Jo

<fe

1

Gr

July

1

to Mch 31
575,251
to Mch 31
1,995,047
Island. b.. Mch
110,864
to Mch 31
1,159,900

& San Fran a Mch 3,716,187
Julyl to Mch 31
32,290,898
St Louis Southwest. b.Mch
700,927
St Louis

July

1

to

Mch

3i

6,780,053

Seaboard Air Line. a_. Feb 1,318,608
July

to

Feb 28

495,043
179,245
1,847,116
666,158
124,147
21,585
947,995
380,642
3,254,441
1,217,074
29,341,001 10,849,035
797,857
147,020
0,757,242
1,768,307
1,043,850
370,538
8,670,982 2,870,325
108,565
52,372
1,064,015
432,666
6,-581,998
2,012,441

123,294
653,061
42,740
217,890
980,265
9,811,739
247,131
2,072,859
285,005
2,515,693

9,870,531
133,270
41,541
July 1 to Mch 31
1,104,664
4.59,476
Southern Pacific. a.. .Feb 8,001,844
1,390,209
July 1 to Feb 28
69,786,157 63,'240,'992 23,'424;362 20;53ri846
1

Southern Indiana. b_ .Mch

ross

Current
Year.

82,129
40, .361
230,055
600.791
283,096
Louisville .t Nashv.b. Mch 3,712,381
3,523,214
1,189.209
1,115.894
Julyl to Mch 31
31,977,560 29,433.353 9,392,530 9,601.010
Manls & Northeast -b. Feb
18,025
13.8.50
39.767
35,689
Jan 1 to Feb 28
89,346
78,836
44,478
36,134
Manistiq ue - b
Apr
<lef2.051
2,901)
7,875
5,284
Jail 1 to Apr 30
def3.813
22,976
18,933
3 .667
Maryland <fc Penna
Mch
28,541
24,784
8,726
0,319
r Mexican Central
Feb 2,229,926 2,048,138
644,455
635,795
July 1 to Feb 28
18.185.421 16,764,091
5,328,789 5,107,042
rMexican Internal
Mch 714,650
276,466
619,094
341 ,086
Jan 1 to Mch 31
1,042,465
875,490
629,052
1,976,671
Millen & Southw.b
Feb
0,015
2,108
8,133
1 ,643
July 1 to Feb 28
15,948
12.410
59,379
52,521
Mineral Ranere. b
Mch
14,688
18.115
62,513
60,504
Julyl to Mch 31
120,699
143.928
563,240
519,963
Minneap & St Louis .a. Mch
/i:l 16,351
/c-1 20,359
298,613
277,109
July 1 to Mch 31
/1:863,405
2,813,884 2,270,120 /cl, 138, 277
Minn St P M & S S.b.Mch
389,230
771,546
390,810
903,677
Julyl to Mch 31
8,661,794 6,597,943 4,563,805 3,341,638
Mo Kan k Tex. a. _. Mch 1,665,475 1 ,690,308
324, .569
392,547
July 1 to Mch 31
16,311,284 15,403,732 4,492,819 4,191,713
Mo Pacific system -b.. Mch 3,750,220 3,766,447 1,119,883 1,130,478
July 1 to Mch 31
33,593,610 33,080,537 10,735,730 10,444,748
Mobile & Ohio See under Southern Ry system below.
NashvChat &StL.b.Mch 981.985
903.705
270,118
210,403
July 1 to Mch 31
8,032,043 7,597,957 2,015,376 2,051,891
^National RR of Mex.Mch 1,261,519 1,090,248
499,942
355,939
Jan 1 to Mch 31
3,556,449 3,020,754 1,405.763
950,511
b
New London Northern.
Jan 1 to Mch 31
257,526
239,870 def47,061
def4,684
Julyl to Mch 31
820,235
782,462
73,015
53 ,060
N Y Chicaso & St Louis -b
Jan 1 to Mch 31
2,446,177 2,195,391
414,550
419,886
July 1 to Mch 31
7,211,996 6,503,527 1.700,357 1,382,480
Mch
Nev Cal & Oregon
14,473
14,968
3,897
6,242
July 1 to Mch 31
171,129
161 ,255
72,071
71,730
Nevada Central.. b
Mch
5,692
4,242
3,029
2,231
July 1 to Mch 31
36,918
25.517
18,648
9,114
New York New Haven & Hartford, b
Jan 1 to Mch 31
12,153,550 11,099,211 3,053,721
1,703,164
Julyl to Mch 31
39,549,134 36,471.567 11,869,104 8,846.614
N YOnt & Western .a. Mch 617,877 ~ 580,065
183,204
155,196
^
July 1 to Mch 31
5,665,157 5,156,537 1,624,761
1.410,848
New York & Penna, b
Jan 1 to Mch 31
25,811
22,742
4,714
7,507
July 1 to Mch 31
80,504
80,800
22,028
26,903
New York & Rockaway Beach .b
Jan 1 to Mch 31
30,941
24,301
def38,78S def21,423
N Y Susq & West _a-. Mch 237,969
203,033
59,117
101,819
July 1 to Mch 31
2,116,386 1,993,390
627,679
680,582
Norfolk & Western. b.Mch 2,548,019 2,176,014 1,044,012
863,470
Julyl to Mch 31
21,044,071 17,598,892 8,532,896 0,913,374
Northern Central _b.. Mch
907,710
830,910
191,596
107,596
Jan 1 to Mch 31
2,751,025 2,247,125
459,108
120,208
Ohio Riv & West -a -.-Feb
10,231
12,342
5,020
2,486
July 1 to Feb 28
155,824
135,159
23,974
24,249
Penn— Lines directly operated
Eastof Pitts & Erie. Mchl2.589, 104 10,542,304 3,675,919 2,583.319
Jan 1 to Mch 31
35,544,402 28,541.902 9.238.715 5,573.015
West of Pitts & Erie.Mch
Inc.
742,400
Inc. 165,000
Jan 1 to Mch 31
Inc. 2,606,300
Inc. 914,500
Phila Bait & Wash. b.Mch 1.204,507 1,212,507
279,918
227,218
'
~ '
Jan 1 to Mch 31 _.
3,549,063 3,249,063
659,614
474,414
Philadelphia & Erie.b Mch
568,138
590,914
68,901
136,030
Jan 1 to Mch 31
1,743,490 1,527,925
194,904
146,239
PittsCinChic&St L.a.Mch 2,439,786 2,180,633
508,222
478,064
Jan 1 to Mch 31
7,033,629 6,124,179 1,440,821
1,114,189
Raleigh &Southp't. a. Mch
6.648
5,414
3,684
2,022
July 1 to Mch 31
40,224
36,264
18,323
11,222

Raquette Lake.b
Jan 1 to Mch 31

[Vol. Lxxxn.

Southern Ry System
Southern Ry.a
Mch 4,869,328 4,542,436 1,311,030 1,407,520
July 1 to Mch "31... .40,460,129 36,615,234 11.527,797 10,578,338

Eam'gs

Current
Year.
%

Roads.
Mobile <t Ohio. a. .Mch
July 1 to Mch 31
CinN O &Tex P. a. Mch
July 1 to Mch 31
Alabama Gt So. a. .Mch
July 1 to Mch 31
Georgia So & Fla.a.Mch
July 1 to Mch 31
Texas Central. a
Mch
July 1 to Mch 31
July

&
1

%

836,792
6,964,411
786,447
6,2371738

.

Tidewater

Previous

331.069
2.836,371
174.509
1.456,024
73.427
744.355
West. b-_ Jan
9,798

to

Jan 31

.53,070

Year.

760,334
0,187,749
037,645
5,482,763
310,505
2,477,923
144,488
1,299,038
63 ,590
656,8.58

6.633
55,575

& Ohio Cent .a. Mch
July 1 to Mch 31

Toledo

Net Earnings
Previout

Current
Year.
%
275,926
2,349,027
193,324
1.473.646
64.844
555.707
28.085
361.299
24.502
298.819
3,526
12.283
93,492
923,205

Year.

%
272,366
2,064.006
1.55,386

1.279.856
63,463

463.846
19.696
307 ..561
18.125
242.660
<lef36
.',,536

377,772
2.53,245
21,606
3.289.032 2,941,282
716.455
Tol Peoria & West . b . . Apr
90,1 OS
85,462
7, .552
5.174
July 1 to Apr 30
1.098,069
1,070,613
231,079
201 .661
Tol St Louis & West.. Feb
312,998
229,196
86,277
10,110
July 1 to Feb 28
2,822,006 2,536,669
750,301
.597,867
Tombigbee Valley Co. Mch
4,596
3.362
1,691
1,379
Novl to Mch 31
22,195
15,002
8,490
6,384
Union Pacific. a
Mch 5,106,913 4,779,801 2,196,986 2,153,762
July 1 to Mch 31
50,767,524 44.006.636 23.595,903 20.995.673
Va & Southwestern. b.Mch
95,980
70.015
47,694
34,029
July 1 to Mch 31
475,319
735,733
299,814
202,299
Wabash. b
..Mch 2,100,502 1,872,460
436,537
218,721
July 1 to Mch 31
18,775,754 19.106,256 5,191,575 3,558,003
Jersey &Seash.b.. Mch
340,310
299,510
00,218
53,118
Jan 1 to Mch 31
870.164
870,164
700,104
104,606
306
Western Maryland. a.Mch
405.201
339.950
2/157,327
?j 130.027
July 1 to Mch 31
3,443,141
2,854,246 2/1.131,784 2/1,054,396

W

N Y & Penna
to Mch 31
1 to Mch 31
Wheeling & L Erie. b.Mch
July 1 to Mch 31
W'msp't & Nor Bch.a Mch
July 1 to Mch 31
Western
Jan

1,752,492
5,443,926
461,698
4,219,840
14,871
134.445
Wisconsin Central. b_ .Mch
612,512
July 1 to Mch 31
5,319,058
Wrightsv & Tennille.bMch
s21,698
sl64,333
Julyl to Mch 31
Yazoo & Miss Val.a..Mch
891,203
July 1 to Mch 31
6,474,470
1

July

1,380,072
4,249,282
360,538
3,300,483
12,329
125.759
558.143
4,940,839
s21,866
sl50,863
820,163
6,823,444

244,844
1,125,084
139,752
1,252,595
6,358
47,362
210,713
1,911,240
8,629
63,254
200,297
893,457

62,776
481 ,.507
70,766

622.322
3,336
37,263
176,685
1,655,897
11,243
57,047
220,120
1,858,506

a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.

Figures include the operations of the Newburgh Dutchess & Connecand the Dutchess County RR. in 1906, but not in 1905.
d For March 1906 taxes and rentals amounted to $182,269. against
8182,288 in 1905, after deducting which net for March 1906 was S2.221 ,891
against .SI .833 ,627.
From Jnlv 1 to March 31 1900 net after deductingtaxes and rentals is 820.400,350, against $15,015,011 last year.
f In 1904-05 Subway was in operation only from Oct. 27 on.
h For March additional income is 83,992 this year, against a deficit of
From July 1 to March 31 tliis year additional income
$3,346 in 1905.
is $42,492, against 834,939 last year.
k For March additional income is $16,772 this year, against 38,753 last
year, and from July 1 to March 31 this year additional income is $138,395,
against 895,658 last year.
n These figures represent 30% of gross earnings.
o Including other income, total income (exclusive of results of coal
companies) lor March is $1,247,109 in 1906. against $1,259,019 in 1905,
and for period from July 1 to March 31 is $10,233,289 in 1906, against
Deductions from total income for additions and im$9,410,699 in 1905.
provements were $129,762 in March 1906. against $86,390 in 1905, and
from July 1 to March 31 were $1,033,948 in 1906, against $905,777 last
c

ticut

year.

q Expenses for March 1 906 include $45,424 fornew equipment.
s Includes $604 other income for March 1906. against $426 last year,
and from July 1 to March 31 $4,258 in 1906 against $3,505 last year.
V These figures are in Mexican currency convertible into gold at the
current rate of exchange.
,

and net profits from coal. &c.. were
2/ For March additional income
$98,497 this year, against $70,150 last year; and from July 1 to Feb. 28,
$652,307 this year, against $518,605 last year.

—

Interest Charges and Surplus.
The following roads, in
addition to their gross and net earnings given in the foregoing, also report charges for interest, &c., with the surplus
above or deficit below these charges:
—Int., Rentals, <frc.
Ciirrent
Previous
Year.
Year.

Bangor

&

Roads.
Aroostook. .Mch

July 1 to Mch 31
Bellefonte Central

Jan 1 to Apr 30
Boston & Albanv
Jan 1 to Mch 31
July

1

to

Mch

31

Apr

59,134
482,677

46,636
418.847

300

330

1,200

1.320

941,545
2,922,452

Boston & Maine
Jan 1 to Mch 31
2.074.144
Julyl to Mch 31
6.180,827
Bost Rev Beach & Lvnn—
Jan 1 to Mch 31
15,904

-Bat.

of

Net E'ngs.—
Previous

Current
Year.
$
52,110
211.851
defll7
1,995

Year.
*
.50,456

158,034
391
4.507

859,322 xdef97,735xdpf323,932
2,694.836
zl35.228 a:def95.819
2.050,981xdefl43,728z
6,112.227 zl .969 .906

53
62-

14.808 .Tdef.l2.578xde/.l 6,771
a;29,549
45,269
a:1 6.666
543
142
948
4,887
6,966
6.185
a:42,655
19.118
128,942
170,574
x269,829
x233,032
def9,618 defl8.24S
22,931
212,262
252,890
75.630

Julyl to Mch 31
46,584
Bridget. & Saco Riv _ .Mch
543
July 1 to Mch 31
4,887
Buffalo <t Susq
Mch
25,998
J idyl to Mch 31
269,064
California Northw
Feb
22,765
July 1 to Feb 28
218,860
b
Central of New England.
Jan 1 to Melt 31
56,052
46,994cx20,393
cxdef23,383
July 1 to Mch 31
159,941
146.511 cxl47.130cxdef3S,967
Central of New Jersey. Mch ?)603,354
6717.527
372,861
188.889
July 1 to Mch 31 ...65,547,249 65,458,261
3,615,230 2.459.505
Chicago Gt Western -.Mch cl72,381
el70.273
24,740
18,532
July 1 to Mch 31
el ,540,071 cl, 546,355
462,883
127,333

I

k

May

THE CHRONICLE.

19 1906.]

—

Del

to

1

Syracuse Bing

Jan

1

July

1

&

—

a-45,046

45,487
134,636

01,249
xl32,525

def. 4,995

8,438
67,500

5,357
122,631

2,249
85,905

4,081

18,819

10,771

36,249

1.58,332

43,344

617,979
1,855,885

765,090
2,487,921

700,266
2,694.895

.t57,504

1,833,5.39

46,300
142,166

46,285
142,551

31
31

100,304
281

,.598

76,294
221,645

dl88,118
dl,59,882
338,842
3,102,703 d2,822,968 d2, 267.252

340,610
3,116,325

Detroit Tol & Ironton
July 1 to Mch 31

877.179

581.527

116,642
820,446

x6,803
85,841 a;def37, 648
824,657 ardef52,340xdefl47,224

Mch

&

Dul So Shore
Julyl to

At Ian. Mch

Mch

31

Dunkirk Alleg Val & PittsJan 1 to Mch 31

x25,851

xdef 1 ,249

.rdef5,363

a:8,862

def4,281
13.473

Jan 1 to Mch 31
Julyl to Mch 31

xl ,384

al,869
xl0,257
x42,933
xl20,206
x27,000
xl26,237
xlO,317

4,300
12,900
a51,094
a467,193
26,7.59

226,859
73,240

a;6,858
x-6,700

x208,476
x37,022
x299,145
112,540

686,246x1,475,581x1,144,426

1,741,401
5,276,095

Jan 1 to Mch 31
503,580
Julyl to Mch 31
1,263,317
Total both divisions
Jan 1 to Mch 31
2,244,981
6,539,412
Julyl to Mch 31
Mch
19,603
Kanawha & Mich

Mch

179.799

31

Lake Shore & Mich South
Jan 1 to Mch 31 .
July 1 to
Long Island

Mch

.

31

1,650,000
5,060,000

.
506,440
1 to Mch 31..
Julyl to Mch 31
1,670,064
15,580
Louisiana & Arkansas. Mch
118,757
July 1 to Mch 31
Manistee & Northeast. Feb
6,766
13,.532
Jan 1 to Feb 28
Manistique
Apr
3,916
3,834
Maryland & Penna... Mch

Jan

Millen

x224,743
x266,604

x93,972
x752,658

x884,395
236,198
/411,353 xl,915,633

x635,126
/x827,321

1,717,584
5,315,184

Division

Julyl to

& Southw

Feb

Mineral Range
Julyl to Mch 31

Mch

MoKan&Tex

Mch

1,298
16,946

93,517
411,457
3,352,407
148,500
1,344,506

Mch 31
NashvChatt & St L.-Mch
Julyl to Mch 31
New London Northern
63,095
.Ian 1 to Mch 31
188,836
.luly 1 to Mch 31....
N Y Chicago & St Louis
308,175
Jan 1 tb Mch 31
July 1 to Mch 31
1,209,448
Nevada Cal& Oregon. Mch
2,112
July 1 to Mch 31
19,129
New York New Haven & Hartford
.Ian
1 to Mch 31
2,420,982
July 1 to Mch 31---,- 7,095,623
July

to

1

—

NY Ontario* West -.Mch
July

1

to

Mch

31

72.604
636,796

1,953,783 xl ,109,138 '^ x729, 097
f5, 726,538 fx2,182, 237 /xl,579 ,978
xll,874
x4,lll
19,690
x260,lS2
x619
179,422

1,440,000x1,275,683x1,365,051
,.547 x3, 471, 832

4,620,000 x3, 371

464,089 xdef57,227xdpf424,034
,549,278xdef344,304 xdi>f56,S43
x27,105
x25,216
11,350
xl78,3.33
xl46,172
102,150
11,2.59
7,178
6,672
30,946
22,790
13,344
defl ,010 def 5,435
3,384
2,485
3,834
4,892
1,483
160
810
x8,844
9,446 xdef 2,043
x29,007
x60,215
85,017
38,808
353,739 dL-f86,888
1,007,931
1.140,412
3.183,782
127,618
61,461
148,942
700,493
670,870
1,351 ,.398
1

63,64.3xdefl04,166 xdef61,660
188,735 xdef98,027xdefl 17,338

311,134
983,109
2,142
19,399

xll2,628
x520,758
1,785

52,942

xll3,063
x416,173
4,100
52,331

x798,679 xdf417,224
2,181,356
6.396.027 x5.493.350 x2,795.174
89,412
110,660
65,784
853,729
987,965
557,119

New York & Penna
Mch 31
5,061
Mch 31
16,738
New York & Rockaway Beach
to Mch 31
.Ian
14,721
Jan

1

July

1

to
to

1

Norfolk

& Western -..Mch

Julyl

to

Mch

31

Raquette Lake
Jan ltoMch31

353,873
3,061,168

3,633
10,919
Reading, all co's
Mch 868, .500
Julyl to Mch 31
7,816,500
8,334
Rio Grande Junction.. Feb
Dec
25,000
to Feb 28
Rio Grande Southern. Mch
17,734
July 1 to Mch 31
161,614

July

1

Mch

to

..

31

1

Rutland
Jan

5,116
16,844

def347
5,290

14,683 xdef52,109
324,863
690,7.39
2,767,979 5,471,728

3,162
11,262

2,391
10.0.59

x35,096
,538,607

4,145,395

xdef685
xdef2,l44

xdef2,937

.

1

31
31

1

to
to

319,812
903,142
2,728
25,933
151,726
1,349,363

248,304
812,320
2,764
25,421
145,184
1,313,547

def74,968xdefl80,892
x236,592xdef326,177
572
3,630
21,429
11,842
x61,082
x34,184
X586.436
x369,549

tions.
6

Included in the fixed charges are expenditures for renewals, additions

and improvements amounting to $85,945 for March 1906, against
$207,199 for March 1905, and to $1,321,681 for period from July 1 to
March 31, against $1,280,244 the previous year.
d These figures are after allowing for other income and for discount and
exchange. The sum of .S10,000 is deducted every month from surplus
and placed to the credit of the Renewal Fund.
c Charges here include interest on debenture stock.
operation only from Oct. 27 on.
f In 1904 Sulnvay was in
c Figures include the operations of the Newburgh Dutchess & Connecticut and the Dutchess County RR. in 1906 but not in 1905.
X After allowing for other income received.

Miscellaneous Companies.
Gross Earn'ys
Previous
Current
Year.
Year.

Companies
Mch
Co
Oct 1 to Mch 31
444,192
Cumberl'dTel&TelCja Apr
1,745,926
.Ian 1 to Apr 30

Cuyahoga Telep Co
Jan

1

Mch

to

— Mch

Ed

ElecIllCoBrockton Feb
Jan 1 to Feb 28
Fall River Gas Works. Feb
Jan 1 to Feb 28
Houghton Co Elec Lt.Feb
Jan 1 to Feb 28
Hudson Riv Elec P Co. Feb
Jan 1 to Feb 28
Mch
Keystone Telep Co
July 1 to Mch 31
Lowell Elec Lt Corp ..Feb
Jan 1 to Feb 28
Milwaukee Gas Lt Co..\pr
Jan 1 to Apr 30
Feb
Minn Gen Elec Co
Jan 1 to Feb 28
Mch
Pacific Coast
July 1 to Mch 31

—

Pocahontas
July

1

Collieries.

to

Mch

865,.500

906,880

7,937,625

7,.590,090

8, .334

5,115

19,888
45,248
67,783
143,822
69,730
604,772
24,099
50,0.58

20,790
43,278

71,250
145,091
453,580
,882,757

56,106
119,063
452,019
4,577,099

34,834
26,152
88,084

29,370
19,861
72,647

Mch

31

-Int.,

25,000

19, .5.57

17,.533

defl ,776
.r34,486

Companies

x39,576
x247,821

xdfl4,715
x233,700

1.53

21,511

466,2.50

26,0.53
191,868
x.35,414
xl06,347
x.5.38,274
x819,470
15,542
21,979
219,413
275,572
def397
3,244
3,013
10,279
x56,017 xdefl5,012
x409,785
x579,693
dcfl6,096 (1(118,272

481

$

14,112
63,308
17,367
51,825
729

11,314
.50,469

13,903
41,711

670

1

,4.58

1,340

876
1

,387

316
759

2,188
4,375
a23,694

a211,248
090
1.472
9,0.50

18,100
(/1 6, 895
d248,151
11,232

1.33,742

566,478
19,119
56,189
2,996
9,041
7,647
17,697
10,744
22,068
17,984
48,655

10,490
20,717
60,921
256,126
27,711
62,282
82,626
896,031
18,397
17,091

7,888
36,877

2,188
4,375

930
2,051
10,451
19,986
<il6,049

9,918

-Bal. of Net E'ngs.—
Current
Previous
Year
Year.
$
$
122,428
138,066
551,675
516,009
xl3,651
X7.213
X20.451
x40,298
3,573
2,326
7,701
9,149
7,331
8,217
16,938
21,394
8,556
7.8.50
21,019
17,693
5,452
60,601
9,560
10,222
18,666
19,710
17,260
30,404
42,296
62,211
12,793
2,348
89.751
.173
12,486

a Charges here include renewal reserve.
d Includes sinking fund and preferred stock dividend.
X .Vfter allowing for other income received.

STREET RAILWAYS AND TRACTION COMPANIES.

x22,795

2,-583

Previous
Year.

«

Ciunberl'dTel&Tel Co Apr
Jan 1 to Apr 30
Mch
Cuyahoga Telep Co
Jan 1 to Mch 31
Ed ElecIllCoBrockton Feb
Jan 1 to Feb 28
Fall Hiver Gas Works. F'eb
Jan 1 to Feb 28
Houghton Co El Lt Co. Feb
Jan 1 to Feb 28
Mch
Keystone Telep Co
July 1 to Mch 31
Lowell Elec Light
Feb
Jan 1 to Feb 28
Feb
Minneap Gen Elec
Jan 1 to Feb 28
Pocahontas Collieries. Mch
July 1 to Mch 31
Mch
U S Telephone Co

10,109
1,928

23,247
361
2,523
36,937
337,991
23.446
240,264
.59,375*

Ren tal.'i. etc.—

Current
Year.

367

149,617
454,038
21,229
191,837
250,629
2,002,448

11,8.53

26,396
25,612
56,531
18.322
37,986
48.323
108,107

30,196
202,799

Interest Charges and Surplus.

1,037,796
7,469,475

162,987

381,909
1,496,426
40,473
117,451

59,5.59

Mch
U S Telephone Co
Wilkes-B Gas & Elec. Mch
Jan 1 to Mch 31

30,995
220,686
152,178
614,983
29,445
86,778
4,302
10,607
9,093
22,781
10,038
25,394
31,471
71,689
29,146
271,849
10,912
21,182
69,944
332,487
39,454
80,311
95,937
1,087,009
29,688
337,902
23,718
11,335
43.824
'

1

54,225
157,832
14,285
30,705
26,007

31

Net Earinngs
Current
Previous
Year.
Year.
$

Buffalo Gas

Latest Gross Earnings.

Name

d(>f3S.<;()3

x26,08S xdef48,S94
xl41,761
x277,392

Week or
Month.

Current
Year.
9

& Hudson. March

riAmerican RysC'o. April
Atl Shore Line Rv- February
Aur Elgin & Chi Ry February

Hinghamton Ry
.\l)ril
Birm Rv Lt & Pow February
Boston & Worcest'r March
Burlingt'n (Vt)Tr- February
Crul I'ctiii Triic
Charleston Cons

.
-

.

.\pril

138,788
29,845
6,515
51,501

Previous
Year.

1

to

S

20.381
186,704
6.932
23,099
19,641
111,023
27,164
5.352
43,273

Current
Year.
S
63.902
776,962
20,422
78,093
83,413
286,724
87,490
12,715
197,391

Ry

April
April
Chi <\c Mil Elec
April
(/ Chi & Oak Park- April

Cluv Painsv

& E-. March

(•lev

Tr

Co.

Al)ril
1st

wk May
wk May
Rv. 2d wk May

Detroit Mom A- Tol.
DtMioit United Kv- 1st

Duluth Street

21,181
203,928
10,101
38,549
22,01

.

Gas .V Elect
ChattanoogaRvsCo

*H W

.ran.

latest

date.

of

Road.

Albany

Mch
Mch

151,930
.luly 1
455,727
.St Jos & Grand I.sland. Mch
21,432
188,774
July 1 to Mch 31
Seaboard Air Line
Feb
264,411
July 1 to Feb 28
2,071,940
Mch
Texas Central
2, .583
23,247
July 1 to Mch 31
282
Tidewater & Western. Jan
2,004
July 1 to Jan 31
Toledo <Sr Ohio Cent .. Mch
38,361
348,101
Julyl to Mch 31
23,648
Apr
'I'ol IVoria & West
230,.508
July 1 to Apr 30
60,740
Tol St Louis <fe West. Feb
to Feb 28
488,166
July
to
to

S

—

Previous
Year.
$

xdef.S,t)71

RR—
1

Mch 31
Mch 31
W'msp't & Nor Bch--Mch
July 1 to Mch 31
Mch
Wisconsin Central
July 1 to Mch 31
1

July

def9,420
12.293

Manhattan Elevated

Subway

$

Net E'ngs.

N Y & Penna

x56,014

7,136
21,555

to

1

.r216.388

3,546
13,534

3,546

9,301
Mch 31
Genesee & Wyoming. b
7,419
Jan 1 to Mch 31
21.119
July 1 to Mch 31
Greenwich & Johnson ville
4,600
Jan 1 to Mch 31
13,800
Julyl to Mch 31
Mch a51,516
Georgia RR
a466,360
julyl to Mch 31
25,379
& Ship Island. -.Mch
Gulf
229,335
July 1 to Mch 31
Mch
64,634
Hocking Valley
592,061
July 1 to Mch 31
Interborough Rap Tran Co

July

Western
Jan

of

Current
Year.
$

a Charges here include road rental (paid by lessee) and other deduc615,232

Rio Grande. Mch

Julyl to

Previous
Year.

Roads.

xll2,597

zl81,455

— —Bal.

Current
Year.

Year.

a;77,813

31

Denver

-Int., Rentals, &c.

Net E'nqs.
Previous

&NY

Mch
Mch

to
to

of

Current
Year.

4,180
37,486

Mch 31
Lack & WesternJan 1 to Mch 31
July 1 to Mch 31
July

Int., Rentals,

8,438
67,500

Feb 28
Cornwall & Lebanon.. Mch
to

1

&c.
Previous
Year.
329,987
972,537

45,997
136,147

ClCiriChic&StL.b..Mch
Jan 1 to Mch 31
Peoria & Ea.stern . . Mch
Jan 1 to Mch 31
Feb
Copper Range
July

— —Bat.

Current
Year.
344,109
1,049,979

1151

50,155
38.872
57.014
71,022
15,450
47.394

14.134
39,404

206,302
139.897
177.504
282,831
45,238
176.000

'90,099

1,727,457

11,746

2.52,330

46,651

34.286
.35,827
69.1.35

Year.

60,035
688,178
15.606
49.358
74,001
230,643
71 ,520

10 ,,591
160,170

IS4.13S
114.927
114,542
270,726
38,688
141,789

/)47,69l

4,811

98 ,.397
13,552

Pre^'ious

1..507

.946

217.993

.

— ——
— ——
— —

——
—

_.
_

THE CHRONICLE.

1152
Latest Gross Earnings.

Name

Jan.

1

to

[Vol. Lxixn.
Gross Earn'gs
Current
Previous
Year.
Year.
S
t

date.

latest

of

Week or
Month.

Road.

Current
Year.

Previous
Year.

S

$
104,869
31,390

Current
Year.

Previous
Year.

Roads.

Net Earnings
Current
Previout
Year.
Year.
%

N Y & Queens Co.b
EastStL A Sub..

March

Elgin Aurora & So. February
El Paso Electric.
February

Wayne & Wab

Ft

Valley Traction. March
Galveston Elect Co February

.
.

.

Georgia Ry&Elec. March
Havana Elec Ky
Wk May 13
Honolulu Rapid Ti

& Land Co
March
Houghton Co St Ry February
Houston Elec Co
February
[llinois Trac Co.
March

Indianap Col & So.
Jackson Consol Tr
Jacksonv Elec Co.
Kan City Ry & Lt
Lake Sh Elec Rj.
Lehigh V Transit..
Madison & Int Trac
Manila El Ry & Ltg
Corp Ry Dept.
Lighting Dept..
Met West Side Elev

—

Rv&Lt Co

Mil Elec

MilLt

H &TrCo--

February
March
February

.

.

March
March
March
March
April
April
April
April
April

Ry 1st wk
Ry &Lt. March

Montreal Street
Nashville

.

Maj'

NJ&HRRy&F CoRailway DeptFerry Dept

March
March

NORy &LtCo..

February

.

Niagara StC& Tor April
Norfolk Ry & Light February

.

Nor Ohio Tr&Lt Co

April
Northwestern Elev April

Oakland Tr Cons.. February
Oklahoma City Ry March
Clean Street Ry... March
Orange Co Traction March
Peeks Ltg & RR Co February
Pitts M'K & Green March
Pottsv Union Trac February
Rochester & East. February
Rochester Railway February
8t Joseph (Mo) Ry

& Pow Co.
San Fran Oakl'd &
San Jose Ry
Lt Ht

.

.

.
.

February

.

.

Schuylkill Ry Co.. February
Seattle Electric Co. February
South Side Elev.. April
Syracuse
Ry__ April
Tampa Electric Co. February

.
.

RT

T & L Co February
TolUrb&InterRy, April
Toledo Rys & Lig'ht April

.
.

Toledo & Western. March
Toronto Railway. Wk May 12

Twin City Rap

'Tr_ 1st

67,501
15,778
193,626
y38,554

232,088
37,649
676,797
683,571

198,087
34,358
550.008
674.483

28,318
26.284
13,676
12.144
39.269
30,919
215,750 178,265
14.999
11,455
10.191
7,793
22,371
23,916
407,267 377,783
56,974
53,460
61,621
53,232
9,379
7,704

83,187
28,608
82,346
658,566
30,855
28,991
47,284
1,219,141
168,730
178,313
26,586

77.524
27.818
65,491
540,005
24.083
23,608
49,476
1,035,666
142,337
137,306
22,720

46,750
28,000
206.215
270,479
46,614
57.043
110.768

174,750
116.750
811,241
1,075,038
177,049

79,992
18,300
228,629
j/26,700

187,494
254,788
42,573
48,485
90,888

14.759
9.738
506,508
16.609
54.852
72,368
126,366
118,996

11,842
7,384
14,576
42,808
68,838
119,669
100,354

,369

wk May

8,782
7,788
9,133
13,689
14,698
14.902
147,409

7,624
7,308
7,766
11,692
12,956
11,712
124,452

60.19/

.

Savannah Elec Co. February

United Rys of St L April
Wash Alex & Mt V April

306,121
65.296
46,709

120.162
37,062
27,797

1 1

April

Terre Hte

21 ,864

i
342,032
77,775
55,143

53,122

49,083
45.821
12,816
216,943
143,634
86,864
35.872
54.902
26.659
156.396
17,526
53,205
96,902
760,197
22,938

41.170
39.491
9.751
179.925
137,851
75,743
30,690
40,746
23,542
147,159
17,708
48,482
82,868
699,483
23,012

Con Ry G & El. Apr
1 to Apr 30
Cleveland & Southw-.Apr
Jan 1 to Apr 30
Dry dock E B'way & Batt.h
Charl'n

Mch

Jan

to

1

Mch

31

July 1 to Mch 31
Bois Elec & Trac Co-

236,949
51,501
197,391
50,155
101,996
47,394
176,000

211.630
43.273
160,170
46,651
92,965
39,404
141,789

129,313
269,358

84,509
328,449

1

to

July 1 to
Hudson Valley

Jan

1

to

Julyl to

Mch 31
Mch 31
Rv Co_ b—
Mch 31
Mch 31

Kingsbridge RR.b
Jan 1 to Mch 31
Julyl to Mch 31
Long Island Elec.b
Jan 1 to Mch 31
Julyl to Mch 31
Mil w El Ry & LtCo.b.Apr

Jan 1
Milw Lt Ht
Jan 1
N Y City Railway, b—
Jan 1 10 Mch 31
Julyl to

Mch

31

def. 2,364

def. 5,882

7,657

3,766

123,396
411,353
616,543
26,659
104,721

111,828
384,548
147,169
578,074
23,542
89,126

67.952
250,133
72,773
289,904

58,318
231.336
68,006
277,926
10.130
37.190

34,386
119,249

26,393
112,328

4.360
22,008

def 6,215

329,746
1,092,501
760,197
2,803,682

280,424
1,008,196
699,483
2,542,505

70,921
286,834
292,442
1,053,620

29,161
301,967
225,700
770,020

55,388
247,317

58,265
232.481

def 14,076

def 6,093

34,560

66,100

69,859
246,234

46'.874

54.342
222,648

3,978
65,781

2,152
49,231

469,004
206.027

Jan

of StLouis
1 to Apr

16".882

305.170

259",463

252,394

217,457

97,391
95,439
27,365
452,339
567,943
340,496
73,711
114,733
104,721
616,545
54,012
1,011,030
1,716,347
2,803,682

81,551
80,831
21,700
381.685
534,159
295,678
61,729
86,993
89,126
578,073
45,778
879,702
1,469,899
2,542,505

Net EarningsPrevious
Year.
$

def 23, 797
15,727

5,196

def 24 ,503

96,698
420,934

80,993
377,952

23,245
183,245

8,172
126,539

13,321
49,593

24,148

Apr
30
31
31

Mch
Mch

to

1

31
31

a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.

—

Interest Charges and Surplus.
The following roads, in
addition to their gross and net earnings given in the foregoing, also report charges for interest, &c., with the surplus

above or

below these charges:

deficit

—
Roads.

Binghamton Ry
Apr
July 1 to Apr 30
Charl'n Con Ry G & E.Apr
Mch 1 to Apr 30
Drydock E B'way & Batt—
Jan 1 to Mch 31
Julyl to Mch 31
42nd St Manhattanville
Nicholas

St

1

1

S

S

xl.021
2.188
39,702
6,670
12,711

7,181

70,096
12,917
25,833

Previous
Year.
S

1.046
27,529
6,064
9,643

40,034
x81 xdef 50. 108
120,649 rdef53,996 xdef76.154
.

97,033
296,181

96,162 xdef50.554 xdef98.608
293,627xdefl06,532xdefl32,374

64,178
196,159

187,008

63,172xdef 38,269 xdef 51,031
xdef 2,748 xdef 64,404

RR—

Jan 1 to Mch 31
Julyl to Mch 31
Long Island Electric
1

46,965
131,959

Net E'ngs.—

Ave

to
to

Kingsbridge

Jan

2,555
7,362
72,936
12,967
25,934

of

Current
Year.

&

Mch 31
Mch 31
Hudson Valley Ry CoJan 1 to Mch 31
Julyl to Mch 31
Jan

— —Bal.

&c.
Previous
Year.

Int., Rentals,

Current
Year.
$

Bennington & Hoos Val
Jan 1 to Mch 31

to

Julyl to
Milw Elec Ry

Mch
Mch

21,732
65,325
8,821
27,238
88,364

31
31

21.765 def 20.132 def 22,478
75.824 def 49.374 def 67,132
8.945 xdef 11 .951 xdef 10,592
xl.715
xll.120
27,263
X54.971
74,974
x50,735*
X198.293
X192.049
294,617
3,21*
X3.168
19,539
def 31
x8,306
76,906

& Lt Co .Apr
Jan 1 to Apr 30
347,690
Milw Lt Heat & Trac. .Apr
24.306
Apr 30
Jan 1 to
92.499
New York City Railway
Jan 1 to Mch 31
2.789,724
Jan

21,092
71,229

14,191

1,609
15,951

def. 713

Mch

8,404,774

2,777.070 xdf926,367xdfl322.406
8 .366 .847xdfl 688.280xdf 2042.825

50,763
153,060
22,667
90,667

50.161 xdef 17.643 xdef 20.096
x64,418
149.968
x43,711
6,356
22,917
7,781
19.776
91,668
30,271

27,000

31

def. 1,877

28,092
128,846
480,982
22,753
75,587
1,172,093
5,390,779

to

Mch
Mch

31
31

Nor Ohio Trac & Lt _ . . Apr
Jan 1 to Apr 30
Richmond Lt & RR
Jan

1

to

Mch

31

Julyl to Mch 31
Syracuse Rapid Trans. Apr

Apr 30
Apr 30
Tarrytown White PI &
Jan

1

July

1

27,000 xdef 8,578 xdef 9.181
81 ,000 xdef 1 1 ,077 xdef 23,090
14,672
11,418
20,450

to
Julyl to
1

Toledo Rys

Jan

&

1

&
to

Mch
Mch

31
31

Lt Co.

.Apr

.

Apr 30

29th St Crosst'n—
1 to Mch 31
Mch 31

Jan

Julyl to

Union Ry of New York
Jan 1 to Mch 31
Julyl to

Mch

81,567
203,292

57.763
162,693

39.826
110,207

7,875
23,853

7,930
23,995

xdfl0,139
xdfl5,996

xdfl3.746
xdf20,102

17,316
52,688
42,213
169,208

16,758
51,738
41,765
170,149

x51,511
X200.070
30.560
120,696

M

1 to Mch 31
Julyl to Mch 31
Thirty-fourth St Crosst'n—

Jan

81 ,000
22,907

89,144
211,649

to
to

Jan

93,168

18,692

1

Julyl to

28th

1,562,313
5.762,078

156, .396

New York & Queens Co
8.227
29.869
97,625
6,067
7.907
17,981
35,476
14,029
46,079

23.952
25,470

24,289 def. 3,239
111,287
37,638
254,788
136,044
996,815
534,655
42,573
27,406
154,261
100,533

def 2.705 def 12.990
12,265 def 25,309

RRCo-b-—

Julyl to

31.120
27,240

6,100
9,550
34,845
112,637
3.299
10,008
18,637
38,646
18.055
64.820

Mch
Mch

to

1

Julyl to

Yonkers
Jan

23",627

19,343
39.344
31.869

Current
Year.
%

29.273
111.444

Westchester Elec Co b.

92,845
261 ,728

26,772
125,704

3,960,771
3,639.467
12,924 256 12. 285,921

17,436
76,375

30,448
120,938

Y_b—

UnitRys
Jan

152,408
573,150

29,372
129,807
270,479
to Apr 30
1,075,038
& Tract. b. Apr
46,614
to Apr 30
177,049

31,868
121,393
313,499

27,991
206.054

b—

of N
to Mch 31
Julyl to Mch 31

18.911

202,971
667,616

59,255

37,579
146,907
374,242

&

Toledo Rys

Nicholas Ave.b

Jan

75,743
295,678
736,241

23,958
93,522

30.443

7,335

Jan 1 to Mch 31
42nd St Manhattanville &

86,864
340.496
8.50,523

31
31

Thirty-fourth St Cros'n
Jan 1 to Mch 31
Julyl to Mch 31

Julyl to
19,641
74,001

Mch
Mch

to

1

Julyl to

42,408
28,062
1,005,086
51,352
115,345
283,603
501,202
240,618
29,830
25,894

—

St

Jan

25"l",566

Street Railway Net Earnings.
The following table gives
the returns of STREET railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of April 28 1906.
The
next will appear in the issue of May 26 1906.

9,676
22,011
83,413

40,631
157,706

30,068
188,263

TarrytownWhite Pl&M b

313,932

1906.

%

48,333
178,199

Syracuse Rap Tran.b.Apr
Jan 1 to Apr 30
Julyl to Apr 30

July

Bennington & Hoos Val.b—
Jan 1 to Mch 31
Binghamton Ry Co.. .Apr
Jan 1 to Apr 30
July 1 to Apr 30
Cent Pa Trac Co
Apr
Jan 1 to Apr 30

135,274
514,694
68,838
261 .728

31

Union Ry
Jan 1

ft

Roads.

Mch

Julylto

%

165,897
595.617
72,368
283,603

31
31

730,483
996,815
154,261

I

Gross Earn'gs
Current
Previous
Year.
Year.

Mch
Mch

to

1

Julyl to

Nor Ohio Trac & Lt.a. Apr
Jan 1 to Apr 30
Richmond I>t & RRCo b
Jan 1 to Mch 31

Lt Co _ a. Apr
Jan 1 to Apr 30
Tol Urban & Interur.a.Apr
Jan 1 to Apr 30
28th & 29th St Cross'n b
Jan 1 to Mch 31
Julyl to Mch 31

a Figures for the month in both years include operations of the Scranton Ry., acquired Jan. 1 1906.
Total is from March 1. d These are
results for main line,
y Spanish silver in 1905, American currency in

Du

Jan

9

31

United Rvs of St Louis Apr
Jan 1 to Apr 30
Westchester Electric Co
Jan 1 to Mch 31. _

>'

21,492
66,462
107.006
243.387
198,026
793,270

x42,435
rl82.222
26.241
107,777

20,911 xdefl6.817 xdef26.801
64,958 xdef42.479 xdef39.835
100,621
230,713
199,069
797,541

xl,973xdef 32,683
xl 16,781
26,631
94,416 '
260,350 def 27.621

.t90,508

31

25,980
76,693

25 ,388Ixdef 39 ,653 Jxdef 3 1 .164
76.516 .Tdef40.435:xdefl9.874

Mch
Mch

31
31

26,820
83,205

27.240 xdef22 .SOSJxdef 24 ,871
83.338 xdefl7,313Ixdef33.666

X After allowing

for

other income received.

Julyl to

Yonkers
Jan

Mch

RR Co1

to

Julyl to

May

THE CHRONICLE.

19 1906. J

ANNUAL REPORTS.
an index to
Annual Reports. — The following
is

EARNINGS, EXPENSES AND CHARGES.

all

annual

This index does not include reports in to-day's "Chronicle".

—

.

General Electric

...1038, 1047
Lanston Monotype
1039
Michigan State Telephone
1104
New England Telep & Telegraph.. .1104
Pennsylvania Steel
1100
Pocahontas Collieries
1045
Streets Western Stable Car Line
991
1101
United Gas Improvement
...IIOO
United States Rubber...
U. S. Steel Corp. (3 mos. end. Mch.
985
31)
Street

Railways

—

Capital Traction, Washington.

926

—

Street Railways
(Concluded)
Chicago City Ry
Chicago & Milwaukee
Dallas Electric Corporation
Eastern Consolidated Electric
Georgia Ry & Electric _

507
.1097
80i
691
627
Havana Electric Ry
802
Indiana Union Traction
449
Indianapolis Traction & Terminal.. 627
International Trac. Co^BufTalo
624
Inter-State Railways, Philadelphia. 627
KnoxvUle Railway & Light
628
Little Rock Railway & Electric
628
Louisville Traction
692
Manila Elec. RR. & Lighting Corp. .1041
Metropolitan West Side Elev., Chic. 865
Hudson Riv. Ry.&Fer.510
New Jersey &
New Orleans Railway & Light
925
Phila. Co. of Pittsburgh
1099. 1106
Sao Paulo Tramway Light & Power. 988
Toronto Ry
494
Twin City Rapid Transit
556
United Rys. & Electric Baltimore.. 1038
United Railways of St. Louis
984
United Rys. In v. Co. of San Fran
753
Washington Ry. & Electric Co
800

1902.
$

27,485,171
5,868,722
746,020
880,670
1,279,752
130,246

27,696,777
6,117,930
756,554
786,943
183,503

24,966,656
5,660,764
658,123
734,464
830,959
174,682

40,596.440

36,390,582

36,602,935

33,025,648

Expenses
Maint. of way, &c
5,354,734
Maint. of equipment.
6,416,431
Conduc'g transport'n. 15,287,978
General
730,881
Taxes
1,248,763

3,842,144
5,829,573
14,439,818
722,241
1,209,586

4,341,853
6,066,670
14,836,711
728,425
1,143,025

4,371,003
5,198,863
12,123,044
566,317
1,049,201

29,038,788
11,557,652
6,756,003

26,043,362
10,347,220
7,120,349

27,116,684
9,486,251
5,960,577

23,308,429
9,717,219
5,413,983

18,313,655

17,467,569

15,446,828

15,131,202

8,340,055
2,478,992
425,761
1 ,003,547
10,868

7,851,119
2,213,417
438,495
1,697,024
79,584

7,074,990
2,236,883
451,202
414,913
149,198

6,758,004
2,103,748
231,552
135,864
118,049

Total deductions _, 12,259,223
for year..
6,054,431

12,279,639
5,187,930

10,327,186
5,119,642

9,347,218
5,783,985

Express
Mails

Rents
Miscellaneous

Pennsylvania Company.

—

in gross earnings, reflecting the prosperous conditions prevaiUng in the
territory tributary to the system; and while there was a large increase
in the operating expenses, the net earnings, after deducting the rental
of the roads operated on the basis of net earnings, were $9,587,456, a
gain of $1,294,588 over the previous year.
The income from investments, of which a detailed statement is attached to the report, was $6,756,203, being 5.6% on the cost thereof, making the gross income of the
company $16,343,459, an increase over 1904 of $930,242, and after
deducting all fixed charges, interest and other liabilities, including
advances to lines in its system, there was a net income of $6,054,431.
There were paid out of this amount, in addition to contributions to sinking funds aggregating $322,164, the sum of $1,334,000, the amount of
certificates of gold loan of 1901 drawn Nov. 1 1905, and a dividend of
upon the capital stock, leaving a balance of $2,398,268. From this
amount there was transferred to the fund for extraordinary expenditures
the sum of $2,000,000 to provide for future betterments not properly
chargeable to capital account, and the balance of $398,268 was transferred
to the credit of profit and loss account.
The tonnage of the lines directly operated was 77,880,690 tons, an
increase of 15,282,980 tons, or 24.41%; of the lines operated directlv
by the Pittsburgh Cincinnati Chicago & St. Louis Ry. Co., 35,023,606
tons, an increase of 4,083,334 tons; and of the lines operated through
their own organizations 19,315,722 tons, an increase of 1,237,350 tons.
The aggregate tonnage moved upon your entire system during the vear
was 132,220,018 tons, an increase over 1904 of 18.46%. The aggregate
tonnage mileage was 10,115,689,192, as compared with 8,560,688,066
in 1904, an increase of 18.17%.
The number of passengers carried on
all lines was 28,341,119, an increase of 469,867 passengers, or 1.69%.
The aggregate passenger mileage was 823,361,883, a decrease of 5.32%,
due to the abnormal travel to St. Louis in 1904, growing out of the
Louisiana Purchase Exposition at St. Louis. The average rate received
per ton mile on all lines of the system was 6 4-10 mills, a decrease of 1-10
of a mill as compared with 1904.
Improvements, &c. There were increases in expenses in all departments, notably in maintenance of way and structures and in maintenance
of equipment, due to outlays necessary to maintain the track, motive
power and equipment in a condition to meet the requirements of the
traffic.
Heavy expenditures were necessary upon the Pittsburgh Fort
Wayne & Chicago Ry., in the elevation of tracks in Chicago and the depression of the tracks in Allegheny for the purpose of eliminating grade
crossings; the construction of third, fourth and fifth tracks and sidings
at various points, and the further extension of yards, tracks and other
terminal improvements.
The work of elevating the tracks of the Cleveland & Pittsburgh RR. in Cleveland was commenced, and a Hberal expenditure made for double tracks, yards, docks and other faciUties on
this and other lines in the Northwest System.
On the Southwest System the work of elevating the tracks on the
Pittsburgh Cincinnati Chicago & St. Louis Ry., between Ada and Fulton
streets in Chicago, and the construction of second track between Columbus and Indianapolis, was vigorously prosecuted; also the construction
of other additional main tracks and sidings and the improvement of
yards at terminal points. A second track was constructed on the Duff
branch of the Ohio Connecting Ry., thus greatly facilitating the movement of traffic between the Pittsburgh Cincinnati Chicago & St. Louis
Ry. and the Pittsburgh Fort Wayne & Chicago Ry. There was also a
considerable increase in the locomotive and car equipment on both

5%

—

—

New Route. A new route between Cleveland and Pittsburgh was
opened in the latter part of the year by connecting the Mahoning Valley
Western Ry., over which permanent trackage rights have been secured,
with the Cleveland & Pittsburgh RR. near Ravenna and the Pittsburgh
Youngstown & ,\shtabula RR. near Niles, and using that road and the
Pittsburgh Fort Wayne & Chicago Ry. to Pittsburgh.
This line furnishes a low-grade route and will greatly facilitate the handling of business between Cleveland and Mahoning Vallev points and Pittsburgh.
Payment of Collateral Obligations New Slock. The $50,000,000 issue
of temporary collateral obligations made by this company to meet the
heavy capital expenditures on its operated and controlled lines was paid
oflf at maturity, Oct. 1 1905.
As will be seen by reference to tlie general
balance sheet, the capital stock was increased' by the issue and sale of
$20,000,000 stock, making the total capital stock oiitstanding $60,000,000,

—

—

—

Erie A- Piltslmryh Debentures (or Sink-irui Fund AUi^inrcs.
In pursuance
to an agreement with the Erie& Pittsburgh RR. Co. under date of Nov. 1
1905, the Penn.sylvania RR. Co. has arranged, through vour company,
to provide for the .sinking fund installments required hv the general
mortgage of that company of .luly 1 1890, the Eiie & Pittsburgh RR. Co.
agreeing to deliver to your coiiiiiany from time to time its 3 4'*; debentures, at par, to the amount of such advances, and upon final paviiicnt
of the general mortgage bonds to issue new mortgage bonds in lieu
thereof, and exchange them, par for t)ar, for tlie debentures so delivered.
Payment of Trust Certificates. Of tlie 3 4<'f Series A guaranteed
trust certificates, $28,000 svere retii-ed under the terms of the sinking
fund; Series H, $106,000 were redeemed; of .Series C, $52,000.
Under
the provisions of the $20,000,000 3J^';j gold loan of 1901. $1 ,.334.000
(one-fifteenth of the original issue) were drawn for payment Nov. 1 1905.
Of the $4,500,000 general mortgage bonds issued l)y the Erie &. Pitts-

—

burgh RR., $42,000 have been redeemed.

The results following are on
the Pennsylvania Company:

—

.$

1

,061 ,228

.

(Report for Fiscal Year ending Dec. 31 1905.)
President Cassatt says in part:
The income account for the year shows a large gain
General Results.

systems.

1903.
$

31,242,539
6,174,760
812,029
874,539
1,385,588
1 06 ,984

Freight
Passengers

sections.

.

1904.

Total

.

—

1905.
$

Earnings

reports of steam railroads, street railways and miscellaneous
companies which have been published since the last edition
of the "Railway and Industrial" and "Street Railway"

Page
Railroads
Delaware Lackawanna & Western. -1097
Grand Rapids & Indiana
1098
987
Grand Trunk Ry of Canada
1037
N. Y.Chicago & St. Louis
Phila. Baltimore & Washington
984
West Jersey & Seashore
985
Western N Y & Pennsylvania
984
Industrial Companies
American Beet Sugar
1099
Bethlehem Steel Corporation. 1039, 1050
_
Boston Towboat
1042
Consolidated Rubber Tire
1043

1153

all

lines directly

operated by

Total

Net earnings
and divid. rec'd.

Int.

Total
Deduct

—

All rentals
Interest on bonds
Car trust payments -Interest, general acct.
Advances to RRs

Net income

Distribution —

Added

"extraor."

to

expend, fund
Sinking fund, &c
Dividends

2,000,000
2,000,000
1.656,164
1,583,138
1,627,960
1,627,910
(5)2,000,000 (5)2,000,000 (4)1 ,600,000 (3)1 ,200,000

3,183,130
1,936,512

3,627,910
1,560,020

5,656,164
398,268

Surplus

4,827,960
956,025

X From the "profit and loss account" $3,000,000 was appropriated in
1903 to the "extraordinary expenditure fund" and $2,000,000 in 1904.

PROFIT AND LOSS ACCOUNT

1905.

Balance at credit Dec. 31
Deduct amount charged
1904
off in reduction of value
$6,716,137
Balance for 1905
of securities and ad398 ,267
justment of old accts.- $234,610
Amount at credit Dec.
311905
6,879,794
$7,114,404

$7,114,404

BALANCE SHEET PENNSYLVANIA COMPANY DEC.

31.
1905.
1904.
1903.
$
$
$
16,476,676 119,392,884 118,520,328
8,011,040
8,356.144
8,231,619
1,009,295
988,882
1,006,168

Assets —
Securities

.

Equipment
Real estate
Real estate in trust
Steub. Extension RR. lease
I.,eased roads, betterments
Dues in current account

Advances
Station agents, &c
Bills receivable
Material on hand
Miscellaneous assets
Cash with Treasurer
Cash on special deposit

Cash

for interest

on bonds

Sinking funds (inch leased roads)
Total assets
Liabilities

60 000,000
63 496,000
6,000
803,411
2 179,786
3 178,290
3 783,303
793 ,086
2 772,118
3 149,579

Lessor companies for suppUes
Dues in current account
Current expenses, leased roads
Miscellaneous liabilities
Interest on debt
Extraordinary expendit. fund
Reserve fund leased roads
Pennsylvania RR. advances
Sinking funds
,

loss

Total liabilities
-V. 82. p. 335,281.

40,000,000
65,070,000
50,000,000
803.411
1,607,553
3,186,238
4,203,362
1,366,434
3,109,835
3,060,300

8 510,5.38
6 879,794

Funded debt
Collateral loans

and

236,582
1,238,573
6,468,153
1,311,361
2,125,137
1,352,977
628,678
2,338,546
3,139,629
1,972,302
32,565,519
469,675
3,526,160

236,832
1,238,573
10.051,571
1,425(770
1,717,401
1,349,590
744,956
3,372,163
5,004,428
1,565,435
562,775
3,414,982

155 ,550,904 185,886,677 158,212,011

—

Capital stock

Profit

__

156,474
1,238,573
5,119,037
2,018,775
2,692,181
1,343,053
546,193
2,561,846
3,596,482
2,978,523
3,360,325
468,050
3,629,279

6,763,407
6,716,137

..155,550,904 185.S

40,000,000
56,635,000

831,831
1,228,753
3,608,269
5,278,384
868.399
3,489,031
2,983,262
31,827,076
5,063,066
6,.398 ,949

5.677 158.212,011

Anaconda Copper Mining.
(Report for Fiscal Year ending Dec. 31 1905.)
President John D. Ryan at the annual meeting on May 16,
it is reported, said in part:
Development Work. The mines were developed during the vearTtO
greater depths than have been reached heretofore in the Butte district,
and with the increased depths the life of the mines and grade of ore are
a.ssured for many years to come.
The Anaconda mine is now opened on
the 2,400-foot level and the Never Sweat and St. Lawrence on the 2,200,
and at these depths the veins show fully as good in size and in value of ores
as in any of the levels below the 1 000-foot
The mining properties owned
outside of the working mines have been developed to a considerable ex-

—

,

.

tent during the year, with satisfactory results.
Lease of Smelter.
The new reduction works of the Washoe Companywere leased for a long term of years on a reasonable rental basis, which
rental covers only interest on the amount the plant cost with usual allowance for depreciation.
During the year 1905, 1 ,626,306 tons of ore from
your mines and slags, slimes atul flue dust taken from the old works were
treated at the new reduction works at a difference, after naying rental, of
$1.5886 per ton in increased savings of metal values and decrea.sed costs
as compared with the old works in 1901 the last year of their o|)eration.
This saving amounts to $2,683,549 on tlie ore treated for your company
during 190.5. In addition there has been recovered in salvage and from
metal values in the dumps of the old works since they were abandoned
$3,645,625 net profit to March 1 1906, and the cupreous material yet in
sight at the old works is estimated at about $1 .750,000, or, with net profits already realizerl, about 85'
of the book value of th(> old works when
i
they were in operation.
Included in the book value of the old works is
the refinery plant, wliicli still stands intact n>ady for operation, but the
company (Iocs not continue its oixMation as contracts liave been made with
refineries at the seaboard thai make it more profitable to ship the product
and have it refined at the seaboard than to refine it at .\iiaconda.
Operations.
The mines in operation during the year were tlie Ana-

—

,

,

—

conda, Never Sweat, St. Lawrence, .Mountain Con.soliilaled, Hell, Diamond and High Ore. The Gallatin and .1. I. ('. were opened and operated
and a limiteil tonnage taken from them in the latter half of the year. The
mines of the company pi'oduced 1 ,543,316 wet tons of ore. of which 61 ,149

-

.

.

,

.

dry tons of sincltinis' ore rcinaineil on hiinil at tlie reiluclion works at the
'I'he
close of the year, leaviiit; l,470,t)94 <lry tons treateil at the works.
use of electrical jiower lias largely increased ami will coniiniie to increase
mines, effectinjc a very considerable saving over |)ower generated
al the
with coal.
Tlie rednction works treated for all conii)aiiies dnring the year 2,650,StiS tons of ore and other cupreous material.
Of this 1,47(),(')94 tons of
ore from the mines, 44,.'>()ti tons of slime and 2.S,S)00 tons of Hue dust, 82,789 tons of slaf,' and 4,.S.">7 tons of miscellaneous cleanings from the old
works were treated for your comi)an.v, from which there was produced
95,44:1,730 ixjuuds of fine copper, 3, 110,880. 045 ounces of silver and
19,165.429 ounces of gold in the form of anodes, which were shipped to
Eastern

refiners.
Sub-(.'o7n}>anies.
During the past year all the subsidiary departments
made a profit excepting the townsite and hotel departments, and in the.se
two departments the losses are practically offset l).^ tlie amount of depreciation charged oM against investment.
The coal mines al Hell (iroduced
during the year 265,744 tons of coal; 135,924 tons were shipped to other
departments of the compatiy, and 1 12,978 tons were sold. The saw mills
of the lumber department at Hamilton cut during the year 30,887,501
feet of lumber, of which 6,124,138 feet were used by the <:oinpany and 24,783,363 feet sold connnercially.
Tlie Hutte Anaconda
Pacific Ry., in which your company owns a
controlling interest, transported during the year 3,994,507 tons of ore
and freight and 175,423 i)a.ssengers, and .showed gross earnings of $1 ,055,-

—

&

927.
Operating expen.ses were S673,784, taxes, interest on bonds and
A dividend
rental on lea.sed lines were .?89,528, net income was $292,614.
of 6*:;, on the capital stock was declared, amounting to $60,000, leaving
suri)lus profit carried forward $232, (>14.
Profit and Loas Account for llie Year Ending Dec. 31 1905.
Receipts
Dishursements
$
$
Sales of copper, silver &
Copper, silver and gold
?old ^
on hand .Jan. 1 1905 . 6,336,427
17,429,098
Royalties
65,441 Mining expenses, includDivs. on investments
developm't & deprec'n 5,403,585
32,100
Rental of water rights
50,000 Ore, matte and copper
purcha.ses (incl. trans.)
349,258
Miscellaneous receipts
96,285
Net profits of subsidiary
Transp. of ore to reduction works
226,515
depts. after deilucting
depreciation
300,174 Reduction exp. at Anaconda, incl. deprec'n-- 4,046,822
Copper, silver and gold
Transp. of metals to East
on hand (copper at co.st
refining & .selling exp . . 1,729,175
silver & gold at selling
54,699
price)
5,761,105 Administration expenses

—

—

I

1

_

Total disbursements. .18,146,481
$5,587,722
131 ,106

23,734,203

Totallreeeipts

Balance
interest

Total net Income
Quarterly dividends Nos. 19, 20 and 21 (total 113^%).

.$5,718,828
3,450,000
.

Balance, surplus for year
$2,268,828
Balance Sheet Dec. 31 1905 (Compare V. 67, p. 953).
Assets

Mines,

—

Liabilities

claims,

itiining

30 ,000,000

Capital stock

land, &c
20,4.30,757 Accounts and wages pay.
Buildings, saw mills, &c- 4,267,516
and taxes accrued
1 ,626,286
Invest, in sundry cos
531,560 Div. warrants not preInsurance unexpired
sented
17,016
66,079
Materials and supplies . .
1,508,761 Div. No. 21, payable
Merchandise for sale
Jan. 18 1906
1 ,050,000
628,491
Copper, silver and gold.. 5,761,105 Surplus
7 ,240,572

Loans and accounts
ceivable and cash

re-

Total assets.

—V.

.

THE CHRONICLE.

1154

Add.

..
.
.

-

.

BALANCE SHKET DEC.
1905.
$
Mines, real est.,<tc. S,,010.179
Cum. <t I'cnn. UK. a ,4'J7,42:i
Uoicrvc fund Inv z2 ..•JlO.aa.O

A .nel.1 —

Stoanicni, twM
barges, Ac

and

Canal boats

70,320

Shares of
otlicr
jtco'K (book val.).j/B ,039.010

own

Coiniiany'B
bonds In treasury
Consol. Coal Co.'s
sink, fund
I'enn. liH.
1st M. sink, fund
Bonds to retire
outst's bonds...
IiLsurance fund

1

,135,000

Hills
C'ash

1

;

I

350,851

:i09.703' IJiUs&acc'Ls pay'ln

lUueB.ArO.RR.Co.
1, 7.50,000

259,205

07.085
259,205
112.000
101.703

1.750,000 ;Ml.scellaneous
243,8901 Div. r)a.vable I'eb.l
189.3041 1'roflt & loss, sur..

.783.780

.502.049

Coal on hand
Loans to sub. co.'s.
Miscellaneous

|

Total habilities.

..39,933,874

05,324
243. S97

231,090
1.878.590
19,849
410.000
2.554.950

.30,010

015.000

(;i5,'-09'

351.279
813.912
207.808
800.791
47.059

.

& accts. rec'le

425.972;
708,2781
188.2931

27.:«1

Total...

.27.634,010 28,861.1711

...27.6,34.010 28.861.171

T These include 24,702 acres Pennsylvania coal lands. S094,744; 11. .500 acres
W. \a. coal lands. IK'j acres surface land. $1,212,993; Cassville & Mononeahela
RR. Co. stock (820.000,000), .?4,4:i8; cash. S3, 800; Southern Coal & Transportation
Co. (stock, $250,100, bonds, S400,0n0) -5-100.000. ($259.705 89 advanced by the

company

)

?/ Stocks owned, total par value, -?10,235,700. viz'
Cumberland & Pennsylvania
Co.. .51.500.000: Fairmont Coal Co.. S(i,001,200; Somerset Coal Co.. .52.001,100
Clarksburj; Fuel Co.. $300' Coastwise Transportation Co., common, S74.50O. and
preferred, 874,500; Canal Towasje Co., S5.000; -Md. Con-struction & Contracting Co.,
820,000; Metropolitan Coal Co., 8501,100: Rapid Coaling & Transfer Co., 81.000,

RR.

Pittsburgh

&

Fairmont Fuel Co. bonds. 857.000.

See also the reports of the subsidiaries, the Fairmount Coal
Co. and the Somerset Coal Co., below. —V. 82, p. 807, 1043.

Fairmont Coal Company.
{Report for Fiscal Year ending Dec. 31 1905.)
This subsidiary of the Consolidation Coal Co. of Maryland
(see above) reports as follows:

EARNINGS. EXPENSES AND CHARGES YEAR ENDING DEC.

31.

1905.

1903.

$3,518,674
2,871,257

$3,754,152
2,899,948

$5,197,686
3,428,631

$647,417
67,500
253 ,496

& taxes

1904.

$854,204
67,500
264,833

$1,769,055

$968,413
$297 ,691
169,037
76,083

Gross earnings
Op. expen.,deprec. of plant

$1,186,537
$272,319
168,137
76,524
(3)360,000
25,622

$2,126,068
$261,272

$902,602
$283,935

$783,105
$1,342,963

Netearnings
Dividends on stocks owned
Miscellaneous income

Total
Interest

on bonds

Royalties
Sin'kingfund

Dividends

(2)240,000
27,300
25 ,986

Miscellaneous
Depreciation on car equipment

Total
Surplus for the year

$836,097
$132,316

GENERAL

82. p. 754.

.

I

173,099 I'ay-rolls
Marine las. fund

H5,035

Total

I

197.010

Cum. &

Materials
JJuo for coal sold

I

S

!

M.

1st

,-

31.
1905.
1904.
LUiblllttes—
S
s
S,.5.''>J,072iSlo.kC.C.Co
10 ,250,000 10.250.000
do Cura.&P.HR. 1,,500.000 1.500,000
:i..507,927
Bonds—
1 .909,209
Con. Coal Co
8,,2.50.000
8.250.000
537,0471 Cura.&Henn.RH 1. 000,000
1.000.000
(;5.498|Sinkinz fund-f ;on
('oal Co
197,019
173.099
5.9S5,810j Cum. & H. RH. .
.350.851
309.703
Reserve fund
2 ,050.329
1,934.292
3, 012. 000 I. Vcc'd Int. on bonds
43.523
25.148
Tr.idlf balances
10.245
15.222

1904.

I

5IO,.37fi

6,749,605
..39,933,874

[Vol. lxxxii.

SHEET DEC.

BAI..\NCE

1905.
S

Assets—

1904.
S

148,-523

76,228
(2)240,000
57,082

31.

1905

—

I

67, .500

289,513

1904.

LiabUilies
8
S
Plants, mines, real
ICapital stock
12,000,000 12,000,000
estate, &c
16,927,155 16,867,394! Funded debt
6,686,000 6,784.000
Car equipment . .
275,822
365,701 Sink'K fvmd reserve
358,808
280,383
Unpaid coupons..
Sink's fund (bonds
138.250
6,845
of 1901)
-.
0358,868
280,383 Loan Guaranty Tr.
Advanced paym'ts
Co..
Clarksb'gFuelCo.
on coal purchases 280,765
165,2321
496.000
Bonds held to retire
Loan Consolidation
outstand's bonds 683,000
CoalCo
784.0001
700,791
102,418
Cash lor coupons6,845
138,250 Car trust notes...
162,810
211,080
Pay-rolls
Cash on hand and
87,504
77,310
332,338 \ccounts pay.able.
in banks
530,929
61 ,841
123.969
1

'

1

Consolidation Coal

Company

(of

Maryland)

1

1

{Report for Fiscal Year ending Dec. 31 1905.)
J President C. W. Watson says in part:
Tonnage. The total output for the year of coal mined by the company
was 2,096,213 tons, an increase of 262,842 tons over that of the preceding
year and the largest in the history of the company. This tonnage was

—

obtained as follows:

M ine —

1904.

1905.

Mine

—

1904.

1905.

40,696 tons.
Railroad Department. The coal tonnage handled by the Cumberland &
Pennsylvania RR. during the year amounted to 3,527,151 tons, an increase of 390,184 tons from that of the preceding vear, distributed as
follows: To Baltimore & Ohio RR., 2,935,394 tons; to Pennsvhania RR.,
305 ,863 tons;!to Chesapeake & Ohio Canal 1 75 ,947 tons local ,1 09 ,947 tons
Acquisition.
In November vour board authorized the purchase, for
the sum of $400,000, of a majority of the stock and .$400,000 of the bonds
of the Southern Coal & Transportation Co., whose propert.y is located at
Berryburg, W. Va., consisting of some 4,500 acres of the Pittsburgh vein
of coal, equipped with a modern, up-to-(late plant and i>roducing about
250,000 tons per annum. (On Dec. 31 1905 the Consolidation Coal Co.
reported among its "Reserve fund investments" $250,100, par value,
stock, and $400,000 bonds of the Southern C'oal <fe Transportation Co.,
together valued at $400,000.
Ed.)
Tables show the coal production of Consolidation Coal Co.
and its subsidiaries as follows, in tons; (see V. 78, p. 1272):

—

—

;

,

—

Pitts.

—

&

Year
Consol.Coat. Fairmont.
Clarshurq.
Somerset.
Fair.
1905
2,096,213
3,748,230
564,918
371,064
1,352,539
1904
1,8:«,371
3,750,176
489,790
883,493
352,522
1903
1,753,783
3,691,783
.505,922
223,930
1,177,982
Coke produced in 1905: Fairmont, 106,085, against 68,473 tons in 1904
and 206,468 in 1903; Somerset, 50,183, against 271 tons in 1904 and 45,498
in 1903.

Income Account for Three Calendar Years.
1905.
.$4,165,437

Earnings— Mines, RR., &c
Otherincome

1904.

1903.

312,048

$4,419,249
281,588

$4,477,485

Total receipts

130,589
331,703

$4,462,292

$4,700,837

.?4,

Treasury bonds.

~

2,902,491

2,995,589

$1,574,994

$1,466,703

$1,870,249

on debt (incl. C. & P. RR.)...
$247,204
Reserve fund
121,703
Sinking fund
.
49 ,340
Interest on special bills payable
39,66!
Interest on reserve fund investment
.
.
Dividends
(6)61 5, ()()()

$88,144

$77,4,50

106, .526

314,285
45,952
156,575

Net receipts

2,830,588

Deduct^
Int.

Depreciation
I

>.

mpro vements and miscellaneous .

46,305
174,115

owned,
book value
61,636.334

(4)410,000
103.683

4 ,723

17, .594

Total

$1 ,172,704

$946,367

Surplus

$402,290

$520,3:56

(4)410,000
115,503
19,226

$1,192,737
$677,512

14.000 Dividend
B. & O. settlement
1,104,808 Accrued bond int.
1.110,112ilndividuals
205,3841
companies
496,0001 Miscellaneous

240,000

5.729

200,395
23,298
2,978,897

345.984
23,200
2,921,528

and

309,323 Profit and loss
1

360.000

119.965
138.120

Securities

7,592

Miscellaneous

Total

1

628,708
8,156!

Total

23,765,340 23,869.852)

23,765.340 23.869.862

a Includes $324,000 canceled bonds, $6,641 lands acquired and $28,228 cash.
6 Includes stocks having total par value of 84.795.900, viz.: Northwestern Fuel
Co.. $1,350,000; Clark.sburg Fuel Co.. 82.360.800 (out of total lasue of $3,000,000);
Pittsburgh & Fairmont Fuel Co., 81,125.100; other. 8110.000.— V. 82. p. 807. 221.

Somerset Coal Company.
{Report for Fiscal Year ending Dec. 31 1905.)

This subsidiary of the Consolidation Coal Co. (which see
above) reports as follows:

W. Watson

Pr8.sident C.

"

says:

This company owned 18.485 acres of coal in what is known as the Jenner
For the purpo.se of economical mining it was necessary to buy
1,998 additional acres adjacent to and connected therewith. It was also
decided, on account of the superior quality of this coal, that six mines
should be opened up at once. These six mines will develop practically
6,000 acres of coal and produce approximately 5,000 tons per day.
Field.

EARNINGS, EXPENSES AND CHARGES.
1905.

1904.

1905.
$

Gross earnings .. 1,606,271 975,299 Interest on bonds
Interest on loans.
Oper. exp., dep'n
of plant&taxes 1 ,376,842 791 ,403 Royalties
Sinking fund
Net earnings
229,429 183,896 Insurance
Miscell. income.
21,445 29,361
Total
Total
250,874 213,257 (Surplus for" year."

GENERAL BALANCE SHEET DEC.
1905.

A sseUi —
S
& re.al estate .7,035,587
Plants & equipment. 912,293

Mines

Sinking fund..

.53,746

95 ,07:1

's

1,052,347
Coal&coke on hand
605,375
Bills&acc'tsreceiv.
181,053
Cl'ksb. Fuel Co. loan
803,524
Material on hand.
319,132

Operating expenses, deprt elation

on milling plant and taxes

27,000

.

Individ's and co
for coal sold
•

Hoffman.
-.
360,175
389,444 Ocean No. 8
126,664
94,089
Ocean No. 1. -. 527,084
16,002
475,792 Ocean No. 9
26,893
Ocean No. 2.
5,566
10,460
8,496 Pumping Sta'n
13,168
Ocean No. 7. -1,036,663
11,316
827,772 Other
The coal mined by lessees of the compan.v on royalt.v amounted to
337,843 tons, as compared with 297,147 tons for 1904," an increase of

account

I

I

...

99.697

coupons ..
(^ash on hand and In
banks
Treasury bonds

1,525

Cash

.

for

Bonds

collat. to lo.an
Individ's and co.'s for

&

....

190,584
33,049
63. ,505

-

-

Miscellaneous

Total

— V.

11,832
-.

82. p. 809.

S

I

Liabilitic.'!—

I

1

150,040 150,000
4,645
25,122 10,193
40,576 26,505
2,160
1,820

222

.543

28,331

188,518
24,739

31.

1905.
S

1904.
S

4,000,000 4,000,000

707,643 1st M. bonds (V. 74,
56,225
p. -382, 430)
4.000,000 4,000,000
56,225
2,325 Sinking fund reserve
99,697
Pay-rolls
43,440
35.385
252.833 Accounts nayable. .
93,346
48.915
1,000,000 Bills pav.able
300,000
IConsol. Coal (^o. loan 100.000
.A.ccr'd int. on bonds.
02,667
62,500
144,0081 Accrued taxes
10,288
94,802 Miscellaneous
13.243
9.180
62.069 Profit and loss
806.262
828,900
1

1

I

accts. rec'ble

coal sold

Coal on hand
Bills

200,620
492,000
500,000

1904.

6,701, 481 Capital stock

1904.
$

1

7.:50fl

.9,541,298 9,028,7541

Total

9,541,298 9.028,754

May

THE CHEONICLE.

19 190G,J
Clarksburg Fuel Company.

The new bonds

{Report for Fiscal Year ending Dec. 31 1905.)
This controlled company of the Consolidation Coal Co
Maryland (see above) reports as follows:

EARNINGS, EXPENSES & CHARGES.
1904.

1905.

1905.

I

Gross earnings _.S499, 411 $476,964 Interest on bonds .117,749
<lo
loan.
.35,854
358,362 (Royalties
20,931
Sinking fund
17,402
2,318
Net earnings. -$112,506 $118,602 Insurance
27,488
23,585
Miscell. income..
Total
$94,254
Total
$136,091 $146,090 ISurplus for year. $41,837
|

Op. exp., dep'n
of plant&taxes- 386,905

I

I

j

—

(

1

BALANCE SHEET DEC.

GENER.4J1905.
$

A ssels—

1904.
S

estate

Bonds

6%

to retire

1

ILoan from Fairmont

for
2,

and accounts

p. 786)

I

18,705

loan
Bills

168.669 2,039,0001

Coal Co

36,497

Miscellaneous

bills

accounts
payable..

[Accrued interest on
bonds
21,597
8,287 Coal companies
Miscellaneous

24,192
13.112

plies

and

3.5.361

Merchandise and sup-

Profit

—V. 80. p.

803.524

Pay-rolls,

re-

recelvable

Total

3,000,000
73,

2,893,000
Sinking fund reserve.
38 ,664
393,000 Fairmont Coal Co.
Current account..
17.4791

393,000
pledged

.S

Funded debt (V.

4 ,323,008 4,315,035
38,664
21,7281

bonds
Cash

Bonds

1905.

LiabUities
C".pital stock

Plant, mines and real

Sinking fund

31.

—

I

)

and

loss

Total

.7.015,848 6,819,663

16.728
3.767

530
13.544
246.090

due July

&

is

208,453

Fairmont Fuel Company.

a subsidiary of the Consolidation Coal Co

whose report precedes this report.
EARNINGS, EXPENSES AND CHARGES.
1904.

$70,000
2,346

I

lint, on bills payNet earnings.. $91,860 $120,450 Royalties
Miscell. income..
13,959
16,845

1 ..501

12,972

531
12,289

Totall
$81,490
Total income-$105.819 $137,295 ISurplus for year. $24,329

.150.628

$86,667

—

—

Brooklyn

ICoupoas

purchases

10,518
32,500
1,148
16,986

Due for coal sales

18,522
12,801

Accounts receivable.
Insurance premiums.

881

1.283 Unclaimed

waws..

14.610 Individuals & co's.
200,000|Proflt and loss
33,208
12,071
573
(

.

32,500
8,049
7,475
178

.32,500

1,484

.

11,489 Pay-rolls
32,500 Ascounts payable..

7,623
84,411

~ ^
8.170
6,536

98,445

I

Total

—V.

3,698,132 3,889.246|

Total

3,698,132 3,889,246

81, p. 1178.

—

—

stockholders'

committee

—

consisting

of

RR.

W.

4%

,

or depositing his stock the sum of 25 cents for each share deposited,
and in the event that the committee succeed.s in obtaining an adjustment
inuring to the advantage of the depositors, it may charge an additional
amount not exceeding 25 cents a .share, to be paid on the return of the
certificates of stock.
V. 73, p. 553.

—

&

RR.—

Chicago
^aZe of Bonds.— SuhjoA-t
to ratification of the proposed bond i.ssuc by tlie shareholders (on June 16) the company has sold to llaydoii,
Miller & Co. of Cleveland $1,000,000 of the new bonds,
the proceeds of which are to be used in paying off $50,000
bonds of the Cook County & Southern RR. Co. (one of the
constituent companies), di,scharging the floating debt and
the purchase of new rolling stock and equipment.

of

—

—

—

—

Cartagena (Colombia) Railway, Limited. Listed in Lon-'
The London Stock Exchange has listed £600,000 5%
first mortgage debentures of £100 each (Nos. 1 to 6,000).
don.

—

Emlen Roosevelt (Chairman), Charles S. Fairchild, Geo. M. Compare V. 82, p. 867.
Camming, Geo. F. Canfield and Robert L. Harrison, requests
Cartagena Terminal

deposits of the stock, for mutual protection, with the United
States Mortgage & Trust Co., 55 Cedar St., New York,
under the terms of an agreement which gives these facts:
The company's road is operated by the Southern Railway,
successor to the Richmond & Danville RR., under an
agreement dated March 26 18S1. All the bonds of the
Atlanta & Charlotte, aggregating $5,500,000, will mature
on Jan. 1 1907, and the Southern Railway Co. has submitted a proposition requesting the company to consent to
the issuing of a new first mortgage to be dated Jan. 1 1907,
to secure 50-year first mortgage bonds to the amount of
$15,000,000, bearing not exceeding
interest, of which
$5,500,000 are to be used to refund the bonds maturing
Jan. 1 1907 and $9,500,000 are to be used to provide funds
to double-track the road.
The new mortgage cannot be
authorized without a modification of the agreement of
March 26 1881 and the committee will have power to consent
on behalf of the depositors to a modification of said agreement
"but in no event shall said committee consent to a modification of said agreement, providing for an increase of the existing mortgage indebtedness, which shall not also provide for
an increase in the dividend upon the stock of the company."
The agreement of deposit will terminate May 1 1907, subject to tlie
right of the committee at any time by a unanimo\i.s vote to terminate tlio
same. The action of the committee must be unanimous to be binding
upon the depositors. To provide for the expen.ses incident to this
agreement, eacli depositor sliall pay to the trust company at the time

all

Edward

The Canarsie RR. will be owned by the Brooklyn Rapid
Transit interests.— V. 82, p. 1040.
Buffalo Southern Ry.—5oW.— President G. T. Rogers
of Bingham ton, and Directors Franklin D. Locke, Louis L.
Babcock, Edward M. Mills and Myron S. Hall, of Buffalo,
have sold their controlling interest in this company to outof-town capitalists and have resigned from the management.
Compare p. 17 of "Street Railway" Section. V. 79, p. 2641.
Butler Passenger Ry.
Mortgage.
See Pittsburgh & Butler Street Ry. below.
Canarsie RR. Successor Company
See Brooklyn & Rock-

away Beach R R

Atlanta & Charlotte Air Line Ry. Proposition to Make
Mortgage Stockholders' Committee Call for
$15,000,000

Aurora Elgin

Capital stock, $650,000.

Co. of Brooklyn. Stock, $250,000. Directors:
Johnson, James Jourdan, W. C. Courtney, all of Brooklyn.
Canarsie

—

RAILROADS, INCLUDING STREET ROADS,

—A

Realty Co. of Brooklyn.

Edward Johnson, A, D. Kiernan, James Jomdan,

—

GENERAL INVESTMENT NEWS.

Deposits.

& Canarsie

Brooklyn

coal

Cash to pay coupons.
Cash in bank
Material on hand
Treasury bonds

—

—

—

—

I

I

1

on

—

Bay Shore Terminal Co. Appeal. Justice Harlan of the
United States Supreme Court has granted to Frank D. Zell
and associates a writ of error to review the decision of the
lower court denying the application for leave to intervene
in the foreclosure suit so that they may appeal from the
This will operate as a stay in the meantime
decree of sale.
and prevent the confirmation of the recent sale for several
months at least.— V. 82, p. 1039, 750.
Boston & Northern Street Ry. Maturing Bonds. The
$215,000 bonds of the Naumkeag Street Ry. Co. due
June 1 1906 will be paid at maturity at the Salem National
Bank, Salem, Mass.— V. 81, p. 1846.
Brooklyn & Rockaway Beach RR. Successor Companies.
The following corporations filed articles at Albany on May
13, pursuant to the plan in V. 81, p. 1609, 1664:
Directors:

1904.
1905.
1904.
Assists
Liabilities
S
s
s
Mines and real estate 3 390.766 3,392,766 Capital stock
.2,250,000 2,250,000
Plants & equipment. 213,950
190,145! l«t mort 5% bonds. .1,300.000 1,500.000

Advances

—

,

BALANCE SHEET DEC. 31.
1905.
$

—

The

—

—

Income—
1905.
1904.
Deductions
1905.
Gross earnings ..$328,965 $326,211 (interest on bonds $65,000
Deduct: Op exp 227 ,828 197 ,696 Taxes
2,281
Depreciation
9,277
8,065 (Insurance'
1,237
.

1906,

—

—

of Maryland,

.

1

1.

—

—

.7.015,848 6,819,663

I

are to be 5 per cents, dated July
1946; interest payable Jan. 1 and July

title of

—

{Report for Fiscal Year ending Dec. 31 1905.)

This company

1

the mortgage will be "first and refunding mortgage"
and the limit of issue will probably be $25,000,000, with
stringent restrictions as to the use of the bonds.
When the
bonds just sold are delivered to the purchasers, the company
1904.
have outstanding: Preferred stock, $3,100,000; com$26,130 will
Underlying bonds, $5,000,000;
47,069 mon stock, $3,100,000.
19,906 bonds just sold, $1,000,000; total bonds, $6,000,000.
15,083
The consolidated statement for twelve months'
Earnings.
1,943
earnings ending Feb. 28 1906, is as follows: Gross earnings,
$110,131 $1,125,786; net earnings, $509,192; interest on outstanding
$35,959
bonds, $250,000; remainder, $259,192.— V. 82, p. 1039, 803.
Baltimore & Ohio RR. New Rolling Stock Delivered Im1904.
An official statement says:
provements.
S
3,000.000
The dehvery of the 250 locomotives and 10,000 freight cars ordered durThis greatly augments the
2,893,000 ing May of last year has just been completed.
21,728
company's facilities for promptly handling the largely increased and enormous volumes of freight traffic, and, combined with the improvement to
172,305
track and transportation conditions and better maintenance of all roll496,000 ing stock, insures an efficiency in handhng business second to no railroad
in the country .—V. 82 p. 1101. 1039.
16 056
Bangor (Me.) Railway & Electric Co. Listed in Columbus.
6,530
The Columbus O., Stock Exchange has listed this com.530
5.058 pany's stock.— V. 82, p. 333.
of

1478.

Pittsburgh

1155

—

&

—

Improvement Co., Ltd. Sale.
Practically the whole of this company's outstanding securities were recently sold for cash to an English syndicate,
which already controlled other railroad and steamboat lines
in Colombia.
See Cartagena Ry. above.
V. 82, p. 867.

—
—

—

Chicago Burlington & Quincy RR. Called. On June 2
there will be payable at par and interest by the trustees,
No. 50 State Street, Boston, $11,000 Tarkio Valley RR. and
$10,000 Nodaway Valley RR. 1st 7s.— V. 82, p. 217.
Chicago Terminal Transfer RR. Receiver's Certificates.
Judge Kohlsaat in Chicago on May 14 authorized Receiver
John N. Fai thorn to issue not||excecding $3,500,000 re-

—

—

Compare V. 82, p. 1101, 1040.
The "Chicago Record-Herald" of May 15 says:

ceiver's certificates.

The

B

November next. The
They are a hen on the
mortgage dated June H

issue is not to exceed .1750.000 prior to

certificates are pa5-able in gold and bear 5%.
cori)us of the company prior to the lien of the

1897, upon which the proceedings were started.
Judge Kohlsaat
further ordered:
"It shall not be a hen prior to or superior to any covenants or conditions contained in any deed under which the Chicago
Terminal Transfer acquired title to any of its property, or to the covenants
and conditions contained in any agreement referred to in any such deeds.
V. 82, p. 1101, 1040.

—

—

—

Chicago Union Traction Co. Re-hearing Denied. The
United States Supreme Court on Monday denied the application for a re-hearing in the suit involving rights under the
Ninety-nine Year Act.
867,803.

p.

Compare V.

—

82, p. 627,

691.— V.

82,

—

Chicago & Western Indiana RR. Called Bonds. Seventythree ($73,000) general mortgage bonds of 1882 drawn for
redemption are payable on June 1 at 105 and interest at the
office of J. P. Morgan «fe Co.— V. 82, p. 452, 750.

—

—

Columbus Buckeye Lake & Newark Traction Co. Sale.
At a meeting held in Columbus on May 16, the stockholders
voted to sell the property to the Columbus Newark & Zanesville Electric Ry., which operates 30 miles of track from
Newark to Zanesville, forming part of the extensive trolley
system which is being organized by the Schoepf-MorganUnited Gas Improvement interests. W. B. Jackson, of the

THE CHRONICLE.

1150

[

Vol. Lxxxn.

—

—

Exeter Hampton & Amesbury Street Ry. Receiver.
"Ohio State Journal," Columbus, informs us that the road
was sold practically ajjon the terms outlined in the fcjllowing This com|)any hay, been pi'accd in the hands of Allan Hollis of
(abstractor tlic)official proxy, except that the holders of the Conc(M-d, N'. H., on application of holders of .$225,000 in
preferred stock of the road will get a 6% cumulative preferred bonds.
The line i.s a part of the .system of the New HampThe stock, shire Electric Railwaj's Co. (see p. 38 of "Street Railway"
for their present holdings instead of a 5% stock.
he further states, will be guaranteed by the Indiana Colum- Section).— V. 73, p. 843.
bus & Eastern (V 82, p 928), "which will take over the
Fort Worth & Denver City B.y.—Earniruj.'i.—The stateroads between Zanesville and Newark, between Newark and
Columbus, between Columbus and Springfield, between ment of earning.s which we cited last week in connection
with the car-trust offering, were those for the eight months,
Sjjringfield and Dayton, between Dayton and Richmond,
not for the- seven months, ending Feb. 28, 1906.
V. 82,
Ind between Dayton and Muncie, Ind between Dayton
1101.
and Bellefontaine, and a new line yet to be built between p.
Great Northern Ry. Xew Line in Canada. The "New
Bellefontaine and Lima."
York Sun" of .May 14 contains a long interview with PresiThe shareholders were asked to sign proxies appointing
C. C. Williams, F. A. Durban and W. Kelse5' Sclioepf to sell the entire dent Hill concerning the proposed line between Duluth,
proijeity and franchises of the company, subject to its bondeii debt, con- Winnipeg and British Columbia, in which he is quoted as
,

—

,

—

—

'

out of a total authorized issue of SI ..iOO.OOO, secured
Knickerbocker Trust Co., trustee, dated Nov. 1
1901 and sul)iect further to all other lial)ilities, to the Columlnis Newark
& Zanesville Electric Hy. Co., tlie consideration to be S2,.")00,000 of the
coinnion stock of said last-named company, of a total authorized issue of
$6,250,000, and also either $500,000 of general mortgage bonds of said
the Columbus Newark & Zanesville Electric Ry. Co., to be dated May 1
1900, bearing interest at the rate of 5% per annum, having tweny-five
years to run, being part of a total authorized issue of $6,250,000, or
$500,000 5% (changed to 6%, see above.— Ed.) preferred stock of the
said the Columbus Newark & Zanesville Electric Ry. Co., that being all
of the preferred stock of said company.
The distribution to l>e as follows: To the holders of the $500,000 preferred stock of this company, the bonds or preferred stock, upon the surrender of the certificates representing the said shares, and to the holders
of $1,000,000 of the common capital .stock of the company the .§2,500,000
of the common capital stock of the Columbus Newark & Zanesville Electric Ry. Co. so to be received.
sistini; of SI, 243, 000

by deed

of trust to

tlie

,

—

New Directors, &c. The following directors have been
chosen, the old officers being re-elected:
McGowan

of Indianapohs, F. A. Deverell of Cincinnati, F. A.
Durban of Zanesville, J. B. Foraker .Ir. of Cincinnati, Randal Morgan
of Philadelphia, W. Kesley Schoepf of Cincinnati and George H. Warring-

Hugh

J.

ton of Cinciimati.

principal offices will be moved to Cincinnati.
financial report for the year ending Dec. 31

^The

^ Report. — The
•

1905 shows:
Year
1905
1904

Surplus for

—

Gross.

Net.

$148,053
106,026

Pref. Div.
$.30,000

Charges.

$266,079
223,051

$69,586
68,260

Common.
$48,467
7,766

30,000

—V. 8"2, p. 1101, 928.
Columbus Newark & Zanesville Electric Ry. Merger.
See Columbus Buckeye Lake & Newark Traction Co. above.

—

— V.

—

81, p. 1375.
Change in Control Option
Cripple Creek Central Ry.
Asked on Minoritij Shares. Kessler & Co., No. 54 Wall St.,
under date of May 15, announce: "The option on a control of
the stock given to us by various stockholders in June 1905
has this day been exercised. We are prepared to take an
option on the stock of such minority stockholders as wish to
take advantage of the opportunity at 70 for the common and
70 for the preferred, to expire Sept. 30 1906." Holders who
wish to have their stock included in this option should deposit
their certificates, duly endorsed in blank, with the Central
Trust Co., 54 Wall St., New York, under an agreement deThis offer expires May 25.
posited with said trust company.
Kessler & Co. are acting for a syndicate which includes
Spencer Penrose and Chas. F. Ayer of Boston and several
The option exercised was at 70 for the preferred
others:
and 50 for the common.

—

Earnings July
Gross earnings
Operating expenses

Net earnings
Other income
Total net income

—V. 82.

—

—

1905 to April 1 1906, nine monOn.
Charges
$698,439
--- $19,164
382,556 Taxes
..
Midland Terminal interest
16,776
sinking funddo
12,214
do
$315,883
2.288
Total
$48,154
Balance for stock
$270,017
..$318,171

—

1

p. 804. 99.

—

Montgomery Rollins, A. H. Day and
Directors.
Goldman recently resigned and C. M. MacNeilland C.

C. E. A
C. Ham-

both of Colorado Springs, respectively Vice-President and
Counsel of the United States Reduction & Refining Co.,
were elected directors, leaving one vacancy. V. 82, p. 804,

lin,

—
RR. —Brooklyn

99.

May 18)
have brought our terminals right into the heart of the city of
Winnipeg, and our connecting link from the boundary into the city should
be tinished'ne.xt fall.
We are now pushing forward the grading on the
branch lines from Gretna to Portage la Prairie and from Bottineau via
IJoissevain and the Souris to Brandon, having got terminals in both
Brandon and Portage la Prairie. We are not as nmch concerned as to
passenger traffic as in tapping a territory prolific in agricultural resources.
The forests of British Columbia will furnish all the lumber
necessary for homes, and the Crow's Nest possesses all the fuel necessary
to keep warm the teeming millions of the centuries to come.
We figure that we can run in an almost direct line from the boundary
to Duluth over a coimtr.v where we can obtain a grade not exceeding
foiu-tenths per mile, on a total mileage of 280.
Then add the 60 odd
miles from the boundary to Winnipeg and j^ou will see what we have got.
With a good roadbed and such grades we can reduce the cost of hauUng
enormously, if not cut it in two.
It is my conviction that such a road as we intend to construct will
cost between $18,000 and $20,000 a mile.
In Canada we do not propose
saying (compare "Railroad Gazette" of

bond our roads for a dollar. We shall just issue stock representing
the actual cash outlay.
See V. 82, p. 928, 1040.
to

At a public dinner in Winnipeg on May 17 President Hill
stated that he expects to have a through line completed
from Winnipeg, to the Pacific Coast by the time the Grand
Trunk Pacific reaches the city, which is taken to mean
within the next two years; also that he has no intention of
invading Eastern Canada.— V. 82, p. 1040, 928.
Indiana Columbus^

Columbus
above.— V. 82,
See

&

—

—

the Michigan Central
The engineers estimate

RR.

A

—

technical paper says:

that the double-barrel tunnel can be built for
not to exceed $8,000,000; that is, a tunnel with a capacity for handling
4,000,000 cars a year. The Michigan Central now handles on its ferryThe tunnel will
boats about 400,000 and the other roads about 300,000.
be 2 42 miles long and work is already under way. A large part of the
Windsor shaft has been completed.— V. 82, p. 868, 691.

—

Elmira (N. Y.) Water ,*Light & RR.Co. Suit for Interest on
Henry Clews", James B. Clews and E. Clarence
Incomes.
Jones, as holders of $183,000 of the $1,200,000 4% income
bonds dated 1900, have brought suit in the Supreme Court
to compel payment of interest on the issue, which, it is
charged, has been earned, but diverted to other purposes,
no interest having ever been paid on the incomes. V. 72,

—

—

p.

988.

Eastern Traction Co.

Buckeye Lake
p. 1102.

& Newark

—Guaranty. —
Traction

Co.

—

Interborough-Metropolitan Co., New York. New SecuriNotice is given by advertisement on another
Ready.
page that, on Monday, May 21, the Morton Trust Co. will
begin the delivery of engraved securities of the InterboroughMetropolitan Co. upon surrender of the deposit receipts

—

ties

The depositors

will receive:
For each share (1) of Interborough Rapid Transit Co., $200 collateral
trust bonds and $99 common stock; (2) Metropolitan Street Ry., $100
preferred stock and $55 common stock; (3) MetropoUtan Securities Co.

See further particulars in
($75 per share paid), common stock $93 50.
V. 82, p. 217, 280.
The collateral trust 4.}^% gold bonds will be issued in
either coupon or registered form, the coupon bonds being
in the denomination of $1,000 and the registered bonds in
denominations of $1,000, $5,000 and $10,000.

—

The following statement was comof System.
friend of the management, but is not official. It
has been carefully revised since first published:
The newspapers which report a deficit in the joint account have been
deaUng with the figures of the New York City Railway only, when they
should deal with the whole Metropolitan Street Railway system, including the Union Railway and some of the short lines of the city which have
not been consohdated with the Metropohtan. The essential fact is that
the nine months ending March 31 1906 show for the entire MetropoUtan
system a decrease in the deficit as compared with the nine months ending
Earnings

piled

by a

March 31 1905

This decrease in the deficit of the Metroof $370,881.
poUtan system has been continued during April and May, and wiU make
the net reduction of the deficit by June 30 about $500,000 for the fiscal
year.
This statement of the deficit includes the full payment of the
guaranteed 7% interest on MetropoUtan Street Railway stock.
If no such dividend had been paid, the figures of 1905 would have shown

Adding the
a balance of receipts at the close of the year of $840,000.
saving during the year now drawing to a close would afford a. balance on
June 30 next of $1,340,000. If against this were charged the
dividend on $55,000,000 of the preferred stock of the Interborough-Metropolitan Co., wluch would absorb $2,750,000 there would be a deficit
under the reorganization plan on MetropoUtan eariungs alone of $1,410,000.
It is this gap which, pending further increase in traffic, will have to be
bridged from receipts of the Interborough Unes. These receipts showed
a surplus for nine months ending March 31 last of $2,182,240 (see V.
At the same rate for the remaining quarter, with some
82, p. 1096).
allowances for declining traffic in the Subway during the warm weather,
From
the surplus for the year ending June 30 would be about $2,800,000.
this will have to be deducted an increase in charges of $350,000 arising
from the substitution of $70,000,000 in 4}^% bonds for $35,000,000 in
There will still be available, therefore, about $2,450,000 to
stock.
meet a deficit in MetropoUtan resources of $1,410,000. This affords a
comfortable leeway of $1,040,000 to carry to surplus for the general syson the
tem. It would afford the means for paying a dividend of 1
common stock of the merged company if it were thought advisable to
make such a distribution. The executive committee, therefore, was
abundantly jtistified in the decision which has been made to pay the
dividend at the rate of 5% on the preferred stock on July 1.
With the population of the city growing at the rate of about 100,000
per year and number of fares per capita growing independently of population, there is obviously an assured future for the common stock of the

5%

PurDelaware Lackawanna & Western
company on April 3 arranged to purchase a
on the South Brooklyn water front, containing
about 260x2,000 feet, from the Brooklyn Warehouse & Dry
Dock Co. and the Brooklyn Dock & Terminal Co. The property is on the pier line extending from 25th to 26th streets,
and it will be used as a freight terminal. The shareholders
of the Brooklyn Warehouse & Dry Dock Co. have since voted
to dissolve the corporation upon the completion of the trans- 8%
fer.— V. 82, p. 509.
The shareholders
Detroit River Tunnel Co. Bond Issue.
on May 3 authorized an issue of not exceeding $15,000,000
bonds, bearing not over 5% interest, and to be guaranteed by
This
chase.
tract of land

:

We

%

merged company.

No allowance

is

made

in the foregoing for the fact that

about $10,000,000 of the 7% preferred stock of the Metropolitan Street Ry. has not been exchanged under the plan;
should dividends be continued thereon at the old rate, it
would call for $200,000 per annum more than is here deducted for dividends on the equivalent amount of new 5%
preferred.
The preferred stock of the Interborough-Metropolitan Co.
It rests upon the entire
is an obligation of that company.
earnings of the merged companies, and is not in any sense a

May

THE CHRONICLE.

19 1906.]

special charge upon New York City earnings to the exclusion
of Interborough earnings.

—

Sinking Fund The Interborough Rapid Transit, by its
contract for the construction and operation of the portion of
the Subway road lying north of the City Hall, is bound to
make sinking fund payments as follows to provide for the
$37 ,000 ,000 bonds of the city issued for the cost of construction:
further annual sum which shall he equal to 1% upon the whole
of the said bonds (with the exceptions above mentioned), except
tht' annual payment in excess of such interest shall, for each year
during the period offlve years from the date at which the payment of rental
shall begin, be such suni, not exceeding such 1%, as shall be equal to the
excess of the profits of the contractor for such year in the operation of
the railroad over 5% upon the capital of the contractor invested in the
enterprise, and except, further, that for each year during a second and
immediately succeeding period of five years, there shall, in lieu of such
and in addition an amount not exceeding
be paid one-half of such 1
1
one-half of such 1%, which shall be equal to the excess of the profits of
the contractor for such year in the operation of the railroad over
per annum upon its capital invested as aforesaid.

A

amount
that

%

%

,

,

5%

The

fund charge, it will be observed from this
not deferred for live years, as has been commonly
believed.— V. 82, p. 627, 568.
.sinking

clause,

is

La Dicha

&

RR.

—Bonds

— Wm.

G.' Gallagher, 35 and 37 Broad Street, New York, recently offered
for sale this company's first mortgage 6s of 1936, ^guaranteed
principal and interest by the La Dicha Mining & Smelting
Co., which company is owned by the Mitchell Mining jCo.
V. 82, p. 218 628.
Pacific

Offered.

—

—

—

Lehigh Valley RR. Maturing Bonds Refunding. The
$1,500,000 first mortgage 7% bonds of the Pennsylvania &
New York Canal & RR. Co. maturing June 1 1906 will be
redeemed upon presentation at the office of Drexel & Co.,
The coupons will be paid at office of Lehigh
Philadelphia.
Valley

RR.

Co., Philadelphia.

Brown Brothers & Co. and Drexel

&

Co., both of Phila-

delphia, are prepared at their respective banking houses up
to and including May 28 1906, to offer in exchange for the
above-mentioned bonds a limited amount of the general
gold bonds of the Lehigh Valley
consolidated mortgage
RR. Co. upon terms which can be had upon application.
—V. 82, p. 452, 161.

4%

—

Ry. New Securities.
the stockholders has been called for the

London

(Ont.) Street

— A meeting

of
of

latter part
to consider increasing the capital stock from
$500,000 to a maximum of $750,000. There will probably
be issued this year only $50,000 additional stock and $50,000
additional bonds, making a total issue of $550,000 stock
and $550,000 bonds.— V. 78, p. 2384.
this

month

Metropolitan

—

West

Side

—

Elevated fRy., Chicago. New
have been
and Benja-

George H. High and Joseph E. Otis
Directors.
elected directors to succeed F. L. Higginson Jr.
min Allen.— V. 82, p. 868, 865.

1157
Arthur D. Osborne, resigned.

rector to succeed
p. 1041, 929.

New York &

Port

— The

Chester

(Electric)

— V.

82,

Ry.—Franchise

Board of Estimate and Apportionment yesterday granted the company's application for a franchise
for an electric road from Westchester Ave. and Southern

Granted.

Boulevard to the Connecticut State line. This action, it is
asserted, completes the legal status of the line, "the company having secured franchises from the eight municipalities
in Westchester County."— V. 82, p. 219.

—

—

Oneonta & Mohawk Valley RR. Successor Company.
This company was incorporated at Albany on May 9 last
with $1,800,000 stock, as successor to the Oneonta Cooperstown & Richfield Springs Ry., which was sold at foreclosure
on March 13 and bid in by the bondholders' committee (V.
The plan of reorganization has not as yet been
82, p. 629).
determined upon. The incorporators and directors are:
Stephen Tilton, P. S. Babcock (Vice-Pres. of the Colonial Trust Co.,
New

York),

W.

and C. L. Shurz

U. Moore, L. W. Trowbridge, H. W. Acton, H. R. Poor
of New York, and W. V. Varin of Brooklyn.

—

Oneonta Cooperstown & Richfield Springs Ry. SucCompany. See Oneonta & Mohawk Valley RR.

—

cessor

below.— V.

82, p. 629.

—

—

Pennsylvania Co. Sale of Guaranteed Gold Notes.
Kuhn, Loeb & Co. have placed for the company at
for blocks of $2,500,000 to 995/g for
prices ranging from 99
blocks of $100,000 or less, an issue of $50,000,000
gold notes, dated May 1 1906 and due Nov. 1 1907, principal
and interest guaranteed by endorsement by the Pennsylvania
RR. Co. Denominations of $5,000, $10,000, .$25,000 and
$50,000, secured by collateral to be deposited with the
Fidelity Trust Co., Philadelphia, trustee, viz.:

H

4^%

.

Capital stock of the Chesapeake & Ohio Ry., Vandalia RR., Philadelphia Baltimore & Washington RR., Baltimore & Ohio RR., Northern
Central RR., and Norfolk & Western Ry. (preferred), the exact amounts
of each not being obtainable.
V. 82, p. 335. 281.

—

&

Late on Tuesday Kuhn, Loeb

Co.

madethe

following

announcement:
The entire issue of Pennsylvania Co. 4K% notes has been sold, the
amount having been largely over-applied for. The notes were not
offered to the general public, but placed in large blocks, chiefly with
financial institutions here and in Europe.
The money will be left on
deposit with banks and trust companies and withdrawn in instalments

distributed over five months.

The proceeds of the issue will be applied as follows:
Construction of the tunnel throug:h and under the City of New York
and the building of the terminal station in that city.
Completion of the low-grade freight line between York Haven and
Glen Loch.
Construction of other relief lines on the western division of the Pennsylvania RR. and of important branch lines.
Extension of the four-track system on the main line.
Qonstruction of large terminal yards. V. 82, p. 335.

—

—

—

Pennsylvania RR. Guaranteed Notes. See Pennsylvania
Company above.
United Railways. Consolidation. This comMichigan
Water Supply Securities, &c. We have not been able to
pany was organized March 31 1906 under the laws of Michigan,
confirm the rumor which was current yesterday of prewith $5,000,000 of authorized capital stock, in shares of $100
liminary negotiations in Paris looking to the sale of the new
each, all outstanding, of which $1,000,000 is 6% cumulative
that
preferred.
On May 1 the company took over the properties securities viz.: were mentioned in our issue of March 10
$15,000,000 bonds or notes for water supply
Traction Co. Michigan Trac- (p. 569),
formerly owned by the Michigan
(see annual report, V. 82, p. 514) and $10,000,000 equiption Extension Co., Jackson & Battle Creek Traction Co. and
Lansing & Suburban Traction Co. and all of the capital stock ment trusts.— V. 82, p. 1041, 987.
of the Lansing & Jackson Railway Co., which road is under
Pere Marquette RR. Places for Payment of Coupons.—
construction connecting the properties between Lansing and The interest due May 1 was paid as follows:
Jackson. Total length of line in operation, 153 miles; under
Upon Flint & Pere Marquette first consolidated 5% bonds at the
City lines, Kalamazoo, Battle Central Trust Co., New York; Pere Marquette of Indiana first mortgage
construction, 37 J^ miles.
4% bonds at the Knickerbocker Trust Co., New York; Chicago & North
Creek and Lansing, Mich.: interurban, Lansing to St. Johns; Michigan first Mortgage
5% bonds at the Second National Bank,
Lansing to Jackson; Jackson and Battle Creek; Battle Creek Boston.
to Kalamazoo.
Receivers^ Certificates
Receiver Harmon writes:
A mortgage has been filed ^to the Knickerbocker Trust Co.
The receiver has issued certificates for $1,200,000 for the purpose of
of New York, as trustee, to secure an Lssue of $7,500,000 5% paying taxes and penalties against the company in the State of Michigan
gold bonds of $1,000 each, dated May 1 1906 and due May 1 for the years 1902, 1903, 1904 and 1905. These certificates are a first
all the
1936, but subject to call after May 1 1916 at 110; amount out- lien upon interest property of the company within the State of Michigan
and bear
at the rate of 5)4%, payable quarterly; the principal
standing, $1,600,000.
Interest payable Nov. 1 and May 1 is payable in equal amounts every six months during the" period of three

—

—

—

,

—

,

—

at office of trustee.
Of the authorized bond issue ($7 ,.500,000), 81,600,000 has been issued;
S2, 400, 000 is reserved to retire the underlying bonds, viz.: Jackson & Battle Creek Traction, $1,200,000; Michigan Traction Co., 8700,000; Michigan Traction Extension, $500,000; $1,000,000 is reserved to be issued in
exchange for the bonds of the Lansing & ,Jackson Railway Co. when the
net earnings of the latter company equal one and one-half times the interest charge; .$,500 ,000 reserved for power purposes and $2 ,000.000 reserved
under very conservative restrictions, for extensions and betterments. No
bonds to be issued unle.ss the net earnings for one year immediately preceding the time of issue shall be one and one-half times the interest on
the bonds outstanding and proposed to be issued. Bonds shall not be
issued for extensions to exceed $20,000 per mile nor for more than 75%
,

of the actual cost
The bonds are first
expected that a large

changed

for

mortgage on a large part of the property and it is
amount of the bonds now outstanding will be ex-

new bonds

Report for Year Ending April 30 1906.
Gro.s.'?
Operating
Net
Balance,
Interest
&• Rentals.
Year
Earnings.
Expenses.
Earnings.
Surplus.
1905-06 ...8649,872
$.375,882
827.3,990
$200,000
873.990
These earnings were approximately upon 135 miles of road, 18 miles in
addition being of)erated this year.
President, Myron W. Mills; Vice-President, James R. Elliott; Secretary.
Robt. C. Morrison; Treasurer, James R. Elliott; Manager, James R. l5lliott; Superintendent, J. M. Bramlette.
V.82, p. 987. 805.
•

—

—

New Hampshire

Traction Co.

—

—Foreclosure

Suit Against

Company. See Exeter Hampton & Amesbury
Ry.abovc— V.81,p. 155.
New York New Haven & Hartford RR. New Director.
James F. Hemingway of New Haven has been elected a di-

Constituent

—

—

years beginning Feb.

1

1907 .^V. 82, p. 1102.

—

—

Pittsburgh & Butler Street Ry. Purchase. The following, printed two months since in a technical paper, has been
submitted for revision, but without response:
The last details of the purchase of the Butler Passenger Railway Co.
by the Pittsburgh

<& Butler Street Railway Co. have been completed;
8400,000, half in stock in the Pittsburgh & Butler.Co., and half in cash,,
is said to have been paid for the Butler Company and its property.
A
mortgage of the Butler Pas.senger Railway Co. to the Pittsburgh Trust
Co. for 8500,000 has also been placed on record. See V. 81 p. 1849.

—

,

—

Rapid Transit in New York City. Elsberg Bill Signed.
Governor Higgins on May 16 signed the Elsberg bill. Compare V. 82, p. 870.
New Commissioner.

— Lewis Cass Ledyard, of the law firm
&

of Carter, Ledyard
Milburn,
l)cen appointed a member of the

of No. 54 Wall St., has
Rapid Transit Commission
succeed John Claflin, resigned be-

by Mayor McClellan to
cause of the new law requiring commissioners
of New York City.— V. 82, p. 988, 870.
Schuylkill Ry., Girardville, Pa.
Ajjril 17, 1906:

to be residents

—Earnings. — For the year

ending

dross receii)ts
$196,633 Interest charges
Operating exj)enses (incl.
taxes and insurance).. 102,7571 Balance, surplus
1

$64,426

I

Net receipts

J

$29,450

Or 7 1-3% on the capital stock.

$93,8761

G. H. Gerberis President.— V. 80, p. 1729.

.

.

,

[Vol. lxxxii.
THE CHRONICLE.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Scioto Valley Traction Co. —Lided in Cincinnati. — The
on the Cincinnati
company's shares have been
Alton
Reorganized Company.
Water Co, — Stock
101.
Stock Exchange.— V. 82,
— company has a
of
authorized
from $5,000 to $400,000. Exten.sive improveSeattle Renton & Southern Ry. — Control. — W. R. Craw- capital
ments are propo.sed. See V. 82,
1042, 871.
ford and James E. McMurruy, the Chicago
Amalgamated Copper Co. — Subsidiary's Dividends. — See
contest in gaining control
cently succeeded after a long
Copper Co. below.
of the stock, F. H. Osgood, President and General Manager, Parrot Silver
Annual Report
Subsidiary — See Anaconda Copper Co.
having sold out his interests to Mr. McMurray, and the matThe present under "Annual Reports" on a preceding page. — V. 82, p.
ters in dispute having been_amicably
930, 754.
ofBcers
W. H. Crawford,
American School Furniture Co. —'Reorganization. — The
Manager,
and
D. Dow Egan,
holders
more than $1,000,000 of the $1,212,000
Seattle.—
understood, have deposited their bonds
— Consolidation— New mortgage plan of reorganization, which therefore assured
Southern Michigan Railway Co.
under the
Mortgage. — This company was organized Feb. 8 1906 by the of success. The bondholders,
said, receive for their
Michigan Ry.

1J;j8

listed

(Illinois)

p.

of
certificate

filed

Tlii.s

incrca.se]of

.stock

p.

capitalists, re-

legal

<fc

of

settled.

are:

President; Morris B. Sachs, Vice-President; Julius
all
General
Treasurer;
F. Hale. Hecretarv
of
V. 82, p. 281.

of

first

6s, it is

is

consolidation of the South Bend & Southern
Co. (V. 77, p. 402) and the Niles & Buchanan Ry. Co. It
operates an interurban line between South Bend, Ind., and
St. Joseph, Mich., and has a line in process of construction
from Niles to Buchanan, Mich. The capitalization, including the new $2,000,000 mortgage recently filed, appears from
the following:
Capital &7ocA: .—Authorized and issued. $2,000,000.
gold bonds of South Bend & SouthDebt.
First mortgage
ern Michigan Ry. Co. authorized and outstanding, $750,000; dated Oct.
due Oct. 1 1927; denomination $1,000; sinking fund $5,000, be1 1902,
ginning July 1 1906. Interest payable at office of North American Savings Co., Pittsburgh, Pa.
gold bonds of the Southern Michigan
First consolidated mortgage
Ry. Co. authorized, $2,000,000; dated March 1 1906, due March 1 1931.
denomination $1,000. Interest payable at United States Mortgage &

—

Funded

5%

5%

Trust Co., New York. Sinking fund annually on March 1, (1) from
March 1 1909 to Feb. 28 1915, a .sum equivalent to 1% of the aggregate
principal amount of bonds issued and outstanding at the time of such
payment; (2) from March 1 1915 to Feb. 28 1925, 13^%; (3) from March
Of this issue, .$500,000 is outstanding;
1 1925 to Feb. 28 1931, 2%.
$750,000 reserved to redeem the first mortgage bonds of the South Bend
& Southern Michigan and $750,000 reserved for betterments, improvements and extensions under restrictions; these bonds subject to call.
Plant and Equipment. Miles of track: Electric, 35; gauge, 4 ft. 8!/2 in.;
70-lb. "T" rail, 10 motor cars, 1 power house and 1 sub-station, Corliss
engines, General Electric equipment.
"Franchise in St. Joseph expires 1935; Berrien Springs, Mich., 1935;
Niles, Mich., 1932, 1935 and 1936; perpetual in South Bend, Ind."
President, Mortimer P. Reed; Vice-President, William W.
Directors.
Babcock; Secretary, James B. McCance; Treasurer, F. W. Bueltzingslowen, and E. F". Gaffney, all of South Bend, Ind. General offices.
South Bend, Ind.

—

—

in some of the statistical publications that
controlled by the Northern Indiana Ry. Co.
is incorrect, "as this company is not controlled in any way
whatever by the Northern Indiana Ry. Co., and its line is
operated entirely independent of the lines of that company."

E^The statement
the

company

is

Southern Railway.

Ry. above.— V.

—

Springfield

&

— See

&

Atlanta

Charlotte Air Line

82, p. 930, 629.

Western Ry,

—Default—Receivership—

Suit.

The New York Trust Co., as mortgage trustee, has brought
proceedings in the United States Court at Cincinnati to foreclose the first mortgage securing $155,000 5% gold bonds,
with interest due Dec. 1 1905 in default. The bonds were
guaranteed, principal and interest, by the Dayton Spring•

field & Urbana Electric Ry. (V. 82, p. 804), which was recently sold at receiver's sale and bid in for the Schoepf syndicate.— V. 78, p. 1550.
Taxation in Michigan. Decision Upholding Tax Law.
The full text of the unanimous opinion of the United States
Supreme Court, delivered April 2 last, in the action entitled
Michigan Central RR. Co., appellant, vs. Perry F. Powers,
Auditor-General of the State of Michigan, which sustained
the so-called ad valorem (Pingree) tax law of 1901, was given
The matter was referred
in the "Railway Age" of April 13,
to in the "Chronicle" in V. 82, p. 805, under the caption of
the Michigan Central RR.; also in the report of the Grand
Rapids & Indiana Ry V. 82, p. 1098.

—

—

it is

holdings par in preferred stock and 15% in common; also
cash for the April interest. The new company is the
American Seating Co., recently incorporated in New Jersey.
Thomas Boyd of Chicago is President and L. A. Pell of
Racine is Vice-President. (V. 82, p. 989). See V. 82, p.
1042, 931.
American Seating Co, See American School Furniture
Co. above.— V. 82, p. 989, 931.
American Telephone & Telegraph Co, Output. The output of instruments (each telephone being two "instruments,"
viz., one receiver and one transmitter) for the month and
four months ending April 30 was:
Month
Four Months
1906.
1906.
To April 30—
1905.
1905.

—

—

—

——

Gross output (number)
Net output (number)

206,557
141,200

Total outstanding
V. 82, p. 989. 807.

—

174,207
129.226

733.041
489.022
6,187,280

—

608.301
430.398
4.910,962

—

American Waltham Watch Co. Plan Approved. The
shareholders on May 15 duly approved the plan to sell the
property to the new Waltham Watch Co.V. 82, p. 1042.
The sale includes all the company's property except the
sum of $160,000.
Exchange of Stock. A circular dated May 15 announces
that the stock of the new Waltham Watch Co., received in
payment for the property, will be exchanged for the stock
of the old company in the proportion of $100 of the preferred
and $175 of the common stock of the Waltham Watch Co. for
every share ($100) of the stock of the American Waltham
Watch Co., upon the delivery to the American Loan & Trust
Co., 53 State St., Boston, before Sept. 1 1906, of the old certificates endorsed to the American Waltham Watch Co,
Stockholders are requested to send in their stock as soon as
possible. See V. 82, p. 1042,

—

—

—

—

Barney & Smith Car Co, Bonds Offered Refunding.
Goodhart & Co., New York and Cincinnati, Irwin, BaUmann & Co., and various other Cincinnati houses, are offering
at 1023^, deliverable about July 1, $1,000,000 of the newfirst mortgage 5% 30-year gold bonds of $1,000 each, interest
payable Jan. 1 and July 1, redeemable at any interest period
Total issue $2,000,000, of which $1,000,000 will
at 110%.
be reserved until June 1 1906 to retire the issue of $1 ,000,000
of 6% bonds which have been called for redemption July 1
1906 at 110%.
Owners of the 6% bonds are offered an opportunitj' to exchange for a like number of the above-described 5% bonds at
par on or before June 1 1906. The First National Bank of
Cincinnati will issue receipts on deposit of the 6% bonds,
will deliver a like number of 5% bonds July 1 1906, or as soon
after as possible, and will collect the premium of 10% and
Compare V. 82, p,
the July 1st coupons for the owners.
P. J.

1042 989.

—

Brooklyn & Canarsie Realty Co, See Brooklyn & Rockaway Beach RR. under "Railroads" above.
Railway, Option on Stock. W, J.
Toledo & Western
Brooklyn Warehouse & Dry Dock Co. Sale Dissolution.
Hayes & Sons of Cleveland announce by circular that a synSee Delaware Lackawanna & Western RR, under "Raildicate has obtained an option on the controlling interest in
roads" above.
the company and is offering $15 a share for all the outstandButterick Co, Report. The results for the year ending
ing stock. The offer must be accepted by May 31 and the
Dec. 31 were:
V. 82, p. 335.
will be paid for Aug. 1.
stock
Balamc,
N^et
DiviGross
Strike
Cal.
Earnings, loss, d-c.
Reserve.
Profits, dends (4%). Surphis.
Wabash RR, Negotiations Respecting Debenture "B" Year
$480,000
875,419
$702,112
$65,813
$80,880
S555.419
President Henry Evans of the Continental Insur- 1905
Bonds.
480,000
165,057
719,289
645.057
1904
ance Co., who is chairman of the committee representing
V. 82. p. 989.
the debenture "B" bonds says:
Chicago Ice Co, New Enterprise. This company was in. Some time in March a responsible banker appeared before the committee,
corporated last week with $1 ,500,000 authorized capital stock,
and, speaking for himself and another important banking house, stated
of the law firm of West,
that a settlement of the dispute could be effected, the road being, he the incorporators being members
thought, willing to give in exchange for the "B" bonds 65% in a new 4% Eckhart & Taylor of Chicago, acting, it is said, for Eastern
,

—

.

—

—

—

—

—

—

.

—

H%

—

—

—

Worcester & Blackstone Valley Street Ry. New Stock.
This company has been authorized to issue $140,000 additional capital stock at par to take up floating debt incurred
V. 79, p. 1333.
for construction and improvements.
Merger.
Zanesville (O.) Railway Light & Power Co.
See Columbus Buckeye Lake & Newark Traction Co, above.

—

81, p. 1725.

—

—

general mortgage bond, 50% in preferred stock and 50% in common stock,
in cash
or in Ueu thereof 87
The committee advised thie man that it could not consider favorably
the suggestion, but would consider favorably an exchange on a basis of
80% in new general mortgage 4% bonds 50% in preferred stock and
50% in common stock.
Later there was further negotiation and a compromise between the two
figures was suggested, the committee finally taking the position that it
did not care to recommend any settlement on a basis less favorable to
the "B" bondholders than 75% in bonds (which we understood were to
be underwritten at 85), 50% in preferred stock and 50% in common
Advices to this effect were sent to the interested parties, and
stock.
there the matter stands.— V. 82, p. 988, 871.

—V,

—

—

—

—

—

capitalists.

Cincinnati Realty
Offered.

Co.

(Sinton Hotel).

— Claude Ashbrook, Cincinnati,

is

—

Preferred Stock
offering at par the

unsold portion ($525,000) of this company's $850,000 5%
cumulative preferred stock; dividends payable quarterly
A circular says in
Jan. 1, April 1, July 1 and Oct. 1.
substance:

—

Common stock, 8850,000; 5% preferred "* stock
Capitalization.
The preferred stock is a first lien on the
$850,000; total. $1,700,000.
Sinton Hotel. 9J^-.story building now in process of erection, which,
when completed (about Nov. 1 1906) will represent an expendture of
more than $1 ,500,000. The site, formerly occupied by the Pike Building,
is situated in the heart of the city, and is leased in perpetuity, with option
Estimated income:
of purcha.se at considerably under its real value.
Rents, including stores, barber shop, cigar and news-stand privileges.
$82,500; net earnings of hotel, including bar, laundry, etc.. $100,000;
Expenses: Ground rent. $34,500; taxes, $30,000;
total, $182,500.
Balance, surplus,
preferred stock dividend, $42,500; total. $107,000.
Officers:
M. E. Ingalls, President: Geo. R. Balch, Vice$75,500.
President; E. P, Harrison, Secretary; L, A. Ault. Treasurer.

i

May

19, 1906.

THE CHRONICLE.

J

—

—

Chicago Lumber Co. New Stock. This company in February last amended its articles of incorporation, increasing
S H P\;llerton is President
the capital stock to $4 ,000 ,000
.

.

.

and Robert Fullcrton is Vice-President.
Columbus & Hocking Coal & Iron Co. Report.
sults for the year ending March 31 were:

—

Fiscal

Total

Income.

E.vpcnscs.

$.527,065

.1;423,237

3411997

308,675

1005-06
1904-05

—V.

re-

Intdrnt, Bal.,Sur.
Net
Earnings. Tu.ces,&c. or Def
S103,828 $73,597 S..|30,231
72,822 D. 39,500
33,322

Opcratiny

y^cnr

— The

82, p. 1103, 931.

—

Consolidated Gas Co. of New York. Operation of 80-Cent
Te^nporarily Restrained.— Jud^e Lacombe in the United
States Circuit Court in this city on Thursday granted a restraining order enjoining the enforcement of the 80-cent gas
law until June -i, to which date was adjourned the argument
on the company's application for an injunction to continue
until the constitutionality of the law in the action begun May
Under direction of the Court,
1 shall have been determined.
bills will be made out at the old $1 00 rate and the excess of
20 cents collected over the 80-cent rate fixed by the new law
paid into court pending the decision on the application for
the injunction. Attorney-General Mayer has retained
Charles E. Hughes as counsel on behalf of the State. Shearman & Sterling with Joseph H. Choate as counsel, represent
Compare V. 82, p. 104.3, 989, 931.
the company.
Consolidated Manufacturing Co., Toledo. Receiver.
Judge Morris in the Common Pleas Court. Toledo, on May 2
placed this company in the hands of David Robison Jr.
as receiver on the ground of insolvency, and authorized the
The atreceiver to issue $35,000 receiver's certificates.
tempt made two years ago to float a bond issue, it is said,
was unsuccessful. Compare V. 79, p. 2459; V. 81, p. 157.

Law

Total
Pref.Dlv. Balance,
Net
Other
Total
Surplus.
Profits.
Income. Charges.
Income.
(2%).
Year
1905-06 $13,323,348 .51,116,669 $212,061 .$795,739 $262,793 8270,198
849,087
1,501,606 219,427 871,945
1904-05- 11,980,023
V. 82, p. 104.

Fiscal

—

—

Diamond Match

— Circular

—

—

Shareholders.
Presi12, says:
At a meeting of the director.s a dividend of 23-^% was declared, payable
In
June 15 to stockholders of record at the close of business on May 31
this connection I am pleased to report that the volume of business
transacted during the first quarter of the current calendar year shows a
satisfactorv increase over that of the first quarter of 1905 and I confidently believe that, without taking into consideration any of the profits
that win accrue from the operations of the company in California, the

Co.

to

May

dent O. C. Barber, under date of

.

earnings for the vear 1903 will be fullv equal to the very satisfactory
The relations between the company and its
profits for the vear 1905.
customers are .satisfactory, and generally the company is in a healthy
and sound condition.
the distriI desire to sav, however, that the policy of the company
bution of earnings to its shareholders has been liberal, and that later a
course in the payment of dividends may be adopted in
more conservative
order to permit of an accumulation, year by year, of substantial amounts
that may be employed in the company's business, adding to its facilities,
plants, '&c. (which will be rendered necessary), and which in this way
can be accomphshed without additions to our capital account.
Inasmuch as it has been charged that the shareholders have not been
afforded adeciuate representation on the board, it has been deemed advisable to elect as directors Mr. E. A. Potter. President of the American
Trust & Savings Bank. Chicago, and Mr. Granger Farwell of Grangt-iFarwell & Co. of Chicago, succeeding Mr. Hopkins, Third Vice-President,
and Mr. Hawkins, Assistant to the President. The policy of the company in employing chartered accountants to verify its statements will
be maintained, 'and in due season the board will no doubt appoint audiV. 82. p. 1043, 989.
tors to rejiort on the operations for the year 1906.

m

.

,

—

Act.
Attorney-General Moody in making the announcements says that the
defendant'companies "maiiufacture substantially the sole supply of news
print and fiber paper for the district west of Chicago and east of the Rocky
Mountains." The step taken is the result of the recent decision of the
United States Supreme Court holding that witnesses are not excused
from testifying or producing papers in proceedings brought by the
Government for violation of the Anti-Trust Act on the ground that the
evidence would tend to incriminate them. Compare V. 82, p. 631.
General Manager John A. Davis on May 12 sent a letter to the trade
stating that the General Paper Co. has withdrawn as a selling agency,
and that the several mills would thereafter supply the trade direct. A
consolidation of the several companies, it is thought, may take place in
the near future.— V. 82. p. 631.

Havana Dry Dock Co.

Doe Run Lead

Co.,

Bonne Terre, Mo.

— Stock

certificate has been filed increasing the capital stock from
$4,000,000 to $10,000,000, all paid.' "Assets, $10,902,301;
See V. 82, p. 631, 337.
liabilities, $135,181."

—

—

Bonds Called. This
Co., Greensburg, Pa.
companj' has called for redemption at the Girard Trust Co.,
Philadelphia, on Aug. 1 1906, at par and interest, all of the
outstanding bonds of its issue of $50,000 secured bv mortgage dated Feb. 1 1900.

Donohoe Coke

—

& Coke Co. Reduction of Capital Stock.
reported to have reduced its capital stock
from $1,000,000 to $325,000.
The company was organized about a year ago to take over, it was said,
Eastern Ohio Coal

— This coinpany

is

2,000 acres of "coal land in .lefferson County, O.. from the Ohio Coal Aof East Uverpool, O., and 7,000 acres owned by Cleveland
John W. Hach. M. E. Miskall and Kol)ert
capitalists in Monroe County.
Bursner, respectivi^y President, Treasurer and .Secretary of the Ohio
Coal & Coke Co., promoted the company.

Coke Co.

—

& Light Co. Receivers' Certificates
Bergen at Newark on May 11 authorized
the receivers to issue $65,000 6% receivers' certificates for
V. 82, p. 989.
the purpose of completing the plant.
Elberon (N.

J.)

— Vice-Chanccllor

Water

—

(John R.) FeTTier.— Called i^onr/s.— Forty-nine ($49,000)
first mortgage 20-year 4J^% bonds, secured by a mortgage
or $1,297,000, dated July 1 1901, are called for payment on
July 2 1906 at the Standard Trust Co., New York, trustee.
V. 82, p. 871.
Fidelity Development Co., New York.
New Company.
This company, incorporated in New York on April 2 1906
with .$4,150,000 capital stock, of which $1,900,000 is 5%
cumulative preferred (par of shares $100), has taken over
all the property formerly used
by the Morris Park race
track, 295 acres, together with the adjoining parcel of
Bonds or
31 acres, known as Westchester Heights East.
mortgage, if any, not reported. Th(> following is pronounced

—

—

correct:

The price paid for the |)ro|)erty some months ago was about $4,500,000.
About S2, 000, 000 will be spent in improvements and it will then be cut
up bito about 4,000 city lots. The proiierty will not come on the market
Directors:
prol)ably for two years.
Henry I. Cobb, President; Joseph
G. Kol)iii, Vice-President (President of the Hank of IMscoiint and of the
Washington .Savings Hank; Fredk. W White, Treasurer; Robert L.
Bradhy (President of the Cohinibia Trust Co.) and .lames M. Gifford.
General Asphalt Co. -Report. Results for the year ending Jan. 31 were:
.

—

called for

York, or

redemption at
its office in

— Called Bonds. — The company has
No. 32 Broadway, New
1, $15,000 bonds se1901, to N. Gelats & Co.,

its office.

Havana on June

cured by mortgage of June 1
trustees, viz.: Nos. 40 to 54, inclusive.

—
—

V. 80, p. 1974.
New Stock. The
Transit Co. of Mentor, O.
company has filed a certificate of increase of capital stock
from $260,000 to $325,000. Eliza M. Hawgood is President.
See V. 76, p. 1411.
New Stock. The entire
International Steam Pump Co.
amount of new stock, consisting of 25,000 shares of preferred stock and 55,000 shares of common stock, we learn,
will be turned over to the Power & Mining Machinery Co.
See V. 82, p. 1104, 1044.
in payment for its capital stock.
Jasper Coal &TCoke Co., Montgomery, Ala. Mortgage.
The shareholders'will meet at the Merchants & Planters '-Farley National Bank, Montgomery, Ala., on May 29, to vote on
making a mortgage to meet the company's liabilities. C. L.
Mathews is President.
Manor Gas Coal Co., Philadelphia. Payment of Bonds.
This company paid on May 1, through the Bank of North
America, in "Philadelphia, the entire issue of $200,000 first
mortgage 5% bonds, dated May 1 1899. WritingonMay 14,
President E. H.McCuUough said: "We do not propose to
The company owns in
issue any other bonds in their place.
fee simple about 1 ,500 acres of coal, and the mine has an output capacity of over 2 ,000 tons of coal daily. Capital; stock
No bonds outstanding."'
$500,000; par of shares, $100.
Oflfice, 222 South 3rd St., Philadelphia, Pa.
National Lead Co. Dividends Resumed on Common Stock.
The directors on Thursday declared a cjuarterly dividend
of 1% on the common stock, payable July 2 to holders of
record June 15, being the first dividend on the common
shares since 1900, viz.:

Hawgood

—

—

—

—

—

—

—

—

—
Increase. —

A

—

General Paper Co. Judgment in Government Suit. The
General Paper Co. and 23 independent paper manufacturing
companies owning plants in Wisconsin, Minnesota and
Michigan, of which it was the sole selling agent, on May 11,
before Judge Sanborn in the United States Circuit Court
for the District of Minnesota, withdrew their answer in the
action brought by the Federal Government to dissolve the
alleged combination as being in restraint of inter-State commerce and therefore in violation of the Sherman Anti-Trust

,

—

1159

DIVIDENDS.—
Common,

—
of

per cent
V. 82, p. 933, 865.

f

\

'92. '93. '94. '95. '96. '97.

2

3

10

1898 to

1%

'00.

Since,

None

yearly.

New Jersey Terminal Dock & Improvement Co. —Progress
September
Project. — This company was organized
last

(V. 81, p. 1378) with $3,000,000 capital stock, and has accjuired over 90% of the stock of the Hackensack Meadows Co.
The meadow lands are being filled in with the earth dredged
from the Bay Ridge and Red Hook channels in New York
harbor, which are being deepened under the Hughes Bros. &
Bangs Government contracts in which the New Jersey
Terminal Dock & Improvement Co. is interested.
Work on section 7, 600 acres, will be finished next fall. This section
is south of the Pennsylvania RU. tracks and extends to the plank road.
The company has deeded to the county authorities a stri]) of land bordering the plank road, which is to l)e raised to the level of the road and
macadamized
The Pennsylvania and Erie railroads have each purchased
from the companv a strij) of land on each side of their tracks about 200
feet wide.
A sale has been made of 22 acres for a manufacturing plant.
The entire holding of meadow lands is about 3.500 acres.
The directors are Phnv Fisk. William M. Harnum. William C. Lane,
Charles T. Barney, George K. Sheldon, W. G. Oakman. Andrew Freedman, Anson M. Bangs and William C. Kinney. Ofliceis: W. G. Oakman, President; Anson M. Bangs, Vice-President; Frederick W. Walz,
Treasurer, and Charles C. Van .Vnglen, Secretary.
See (John R.) Ferrier above
Underhjing Bonds Drawn.
(compare V. 81, p. 1378).— V. 81, p. 166S, 1614.
Nipe Bay Co., Cuba. Issue of Convertible Notes. This
c(nnj)aiiy, which is controlled by interests identified with the
United Fruit Co., has called a meeting of its shareholders to
be held in Jersey City June 12 to amend the articles of incorporation so as to permit of an increase of $2,100,000 in
the common stock and to ratify the issue of $3,500,000 5-year
The proceeds of the notes
notes, payable May 1 1911.
will be used in connection with the completion of the large
sugar plant at Nipe Bay. The "Boston News Bureau" says:
The $3,500,000 notes will 1)e issued with a collateral agreement providing that the holder of one $1 ,000 note is entitled to 10 shares of the
conunon stock upon the surrender of liis uote. .\s there is ai)proximalely
$3,500,000 of common stock outstanding, and as the total aulhoiizcd
amount of common stock under the charter is $5,000,000, the object of
.

—

—

—

6%

the proposed increase in the rommon stock is simiily to provide for an
unissued balance of at least .$3,500,000 stock to take care of the $3,500,000
Tlie $2,000,000
notes in case they are converted into common slock.
In other wonls. the only new
I)referrcd stock will remain michnnged.
capital represented in the present financing will be the $3,500,000 notes.

II

THE CHRONICLE.

GO

The HianiiKeinfiii has been imshing the construction vigorously, with the'
ino inanas-ement iias ueeii piiMiiiig iiu- cuiiHirucuuii \ikoiuu»i,v, wiiii iiir
..It
«K.>» 4Vti. nf.iii rt.i nir iirill \\ii .il.l.i *.« .«tart active oi)eiatioiis ll-itll
nrif
W^ Tl
with
that the company will he able to c^* ft i.^.tif..
two-thirds of the plant completed. This means that the comi)iiiiy will
be able to Krind 3.000 to .3,r)00 tons of cane (lail.w with a <laily output of
2,000 to '-'..^OO baj.'-^ of sui;ar. The conii)an\ owns l.^O.OOO acn-s of rich
cane helds situated at Ni|)e Hay, Cuba, of which about 22.000 to 30.000
will ultimately be ]>lanted in cane.
The conipaiiv will buiiil about .50
The bifj suiiar "central" is being built of steel and
miles of railroad.
pquipiied with ilie mo.st modern .sugar machinery. Compare V. 81,

company

p. 1.S7S, 21,j.

[Vol Lxxxii.

1904-0.5
mos.)
— V. S2, MO991.
p.

•

i\

re.'^ull

f-.

.i t

tj

Co. —Reincorporation. — This

comNorth American Lead
pany lia.s bepii re-incorporated under the laws of Ohio -with
SI. 500,000 authoriiicd capital stock, of which r250.000.it
is stated, will be retained in the treasury pending the comThe stockholders of the Mi.ssouri
pletion of certain plans.
corporation are requested to deposit their stock in exchange
for the new certificates at the Ohio Trust Co., Columbus,
on or before May 31. The Missouri corporation, it is said,
paid its last dividend May 15;
pected to make a distribution

the Ohio corporation is exiii June.
Directors:
Frank J']. Stoneman, President and General Manager;
.Toseoh F. Davidson, Vice-President: Nathan Gumble, Treasurer: Fred.
Lazarus, George W. Bright, Henry Gumble, E. A. Cole and Carl Heidler
of St. Louis

—

—

will not

be impaired, and

by reason of such
1101.

termiiiiitiou,

IIO.J.

in

In-

my

opinion

diiuiMished.

its

dividends will not,

Compare V.

82,

p.

Improvement Co. — Report. — For

United States Realty &
year ending April 30,1906:

fiscal

Period

Xet

Dibenturf-

liuoinc.
(12 mos.)-. 82, 318,023

Income..
81,44.5,930

2.440,222

1,704,828

At.
S«80,790
560,512

<ii<l. .\ l/ril'.U)

190.-.-0ti

Gross

—

Int.,

— Dividends. — A

United Verde Copper Co.

Balance,
Surplus.
S7«.5,14()

1,144,316

Boston paper

says:

The United Verde Copjjer Co. is now j)aying regular monthly dividends
of 75 cents per share, having maintained this rate since the first of the
year, the fifth dividend this year being paid to-day.
In 1905 the comDany declared nine dividends of 75 cents each, or a total of S6 75 per share
\'. so. |). 22i;.
foi- tbc yi-ar.

—

—

Vehicle Equipment Co., Long Island City. Sale of lionds.
At auction in this citj- cm May 11 $120,000 first mortgage
5s, due Julv 1933, with coupons of January 1906 attached,
were .sold at 10'^;. Compare V. 82. p. 1040.

—

Warwick Iron

&

Steel Co.

2%

— Dividends Resumed. — A quar-

terly dividend of
wasdeclared on May 16 payable on
June 11 to holders of record May 26. This is the first dividend since 1901. There is now $1,487,090 stock outstandng and hstcd in Philadelphia.— V. 82, p. 1046. 339.

Ohio Fuel Supply Co. Franchise Denied. The City Counof Cincinnati on Maj' 7 voted to^'postpone indefinitely all
action on the ordinance to grant this company a franchise to
furnish natural gas in the city.— V. 82, p. 395, 104.
Some suggestions for protection against over-i.ssue or
Parrot Silver & Copper Co. Dividend. This company, forgery of municipal bonds are offered by the United States
a majority of -whose $2,298,500 capital stock is owned by the Mortgage & Trust Company of this city, in a four-page
Amalgamated Copper Co.. has declared a dividend of 2)^% circular, the cover page of which is a specimen of the form
Since 1896 the com(25c. per chare), contrasting Avith 5% paid quarterly since of bonds prepared by the company.
The companv paid nothing in 1903, in 1902 pany has had in (jperation its plan by which it attends to the
late in 1904.
engraving and other details of the issue, and in addition certi5% and in 1901 35%.— V. 81, p. 671.
Pure Oil Co. Purchase. This company has purchased fies to their genuineness. The bond paper is prepared for
from the Fisher Oil Co. all of its producing properties, lo- the company for its exclusive use and bears a distinctive watercated in Green County, Pa., Marion. Wetzel, Monongahela mark. The bonds when prepared are laid before the offiand Tyler counties, W. Va., and in Monroe, Washington and cials for execution by the company's representative, each
Belmont counties in Southeastern Ohio. No new securities, making affidavit to the signing and sealing of the same,
stock or bonds, we are informed, will be issued in connection and thereafter the certificate engraved on each bond, atwith the purchase. TheTfoUowing is pronounced practically testing its genuineness, is signed by an officer of the company, and the bonds delivered to, or upon the order of,
correct:
cil

—

—

—

—

—

The leaseholds consist of about 10,000 acres in the counties named'
on which are 300 producing wells with an aggregate net production o'

the proper

— George

officials.

D. Cook & Co., bankers, at 25 Broad Street,
have issued a pamphlet giving concise information
regarding Mexican Government and State bonds.
Messrs.
Cook & Co. have been identified with nearly all the issues
Sheridan (Wyo.) Coal Co. Called Bonds. Twenty-four described, which include United States of Mexico 5%
($24,000) mortgage bonds of 1903 have been called and will external gold loan of 1899; United States of Mexico 4% gold
be paid at par and interest at the Union Trust Co., Chicago, bonds; United States of Mexico redeemable internal 5%
Compare V. 80, p. 2463.
loan of 1894; United States of Mexico consolidated internal
trustee, on June 30 1906.
New Stock Large Interest 3% loan of 1886; Vera Cruz & Pacific RR. Co. first mortgage
Springfield (Mo.) Water Co.
Purchased by St. Louis Men. This company, it is an- 4}^% gold bonds; State of Jalisco bonds, etc., etc. The
nounced, has increased its capital stock from $500,000 to book has been prepared for distribution to any one interested
A considerable interest in the property has been in having the matter.
$700,000.
The eighth annual edition of the "Directory of Directors
acquired by St. Louis men, the management having been

1,000 barrels a day. The consideration was $1,000,000. The sale is
the second the Fisher Co. has made to the Pure Oil Co. Three and a
half years ago it sold a daily production of 1 ,000 barrels in Monroe County,
O., for $1,000,000.— V. 82, p. 456, 104.

—

this city,

—

—
—

—

—

reorganized with the following

George F. West. Portland, Me., President; L. F. Parker, VicePresident; H. B. McDaniels, Springfield, Treasurer; W. L. Lefavor,
Springfield, Secretary and Manager.

The "St. Louis Globe-Democrat"
A deal by which St. Louisans acquire a

says:
half-interest in the stock of

the Springfield Water Co. of Springfield. Mo., has been completed. The
company was formerly owned by a Portland (Me.) syndicate, some of
whose members sold out. The local capitalists interested include John
H. McManus, L. F. Parker, general solicitor for the Frisco system,
and John D. Filley, Vice-Pre.sident of the St. Louis Union Tnist Co.
Mr. McManus controls the largest block of stock. The company has a
bond issue of $.500,000. It has plans to enlarge its plant and a second
issue'of bonds may be made later.
Pv Standard Oil Co. Formal Reply. The company, in a
statement addressed to its shareholders over the signature of
Secretary Chas. M. Pratt, made on Wednesday a long and
detailed reply to the charges of profiting by rebates and
secret rates made by Commissioner Garfield.
See the "New
York Times'" of May 17 for the statement in full, and compare V. 82, p. 1105.
Submarine Signal Co. N^ew Directors. At a meeting of
the stockholders of the Submarine Signal Co. held this week,
the election as directors of Sir William H. White, K. C. B. of
London, Eng., and Charles Moore was confirmed; and there
were elected as additional directors Philip Stockton and John
F. Perkins of Boston, the number of directors having been
V. 82, p. 937.
increased to twelve.

—

—

—

—

,

—

—
—

—

New York. Sale June 5. The
advertised for June 5 at the New York Real
Estate Salesroom, No. 14 Vesey Street.
V. 82, p. 1046, 396.
United Cigar Manufacturers, New York. Over-SubGoldmauv, Sachs & Co. and Lehman Bros, announce
scribed.
that the 7% cumulative preferred stock has been overCompare V. 82, p. 1105, 991.
subscribed.
United Gas Improvement Co., Philadelphia. Right to
Subscribe Terminates June 15.
The right to subscribe to the
new stock will remain open until the close of business on
June 15 1906 (see V. 82. p. 1105).
Trolley Syndicate Purchase.
See Columbus Buckeye Lake
& Newark Traction Co. under "Railroads" above.
Philadelphia Lease and Dividends.
Touching the contingency of the city of Philadelphia terminating on Dec. 31
1907 the lease of its gas works to this company, President
Tubular Dispatch Co.,

foreclosure sale

is

—

—

—

—

—

—

<•'
last week said: •*'(f-'ii|
If, however, those responsible for the administration of the city's
affairs decide to terminate the lease, the substantial condition of your

Dolan

New York" has just come fro in the press. It
contains the names of over 24 ,000 directors and selected lists
of corporations in banking, insurance, transportation, manufacturing and other lines of business, alphabetically arranged,
accompanied in each case by the names of the company's officers and directors.
The price of the directory is $5 a cop3^
Audit Co., 43 Cedar Street, New York, publishers.
The annual meeting of the Incorporated Public Accountants of Massachusetts was held at Boston on May 10.
The
officers for the ensuing year were elected as follows: President, Harvey S. Chase; Vice-President, Thomas S. Spurr;
Secretary, William Dillon; Treasurer, Wm. C. Newell; and
Auditor, Joseph S. Parsons.
Merabers-at-large of Executive
Committee, Wm. Franklin Hall, Herbert F. French and
Frederick C. Tufts.
in the City of

officers:

—

—

Marwick, Mitchell & Co., chartered accountants, whose
general offices are at 79 Wall Street, New York, have opened
new branches in the Drexel Building, Philadelphia, and in
the Despatch Building, St. Paul. The Philadelphia oflSce
will be in charge of Jaiues Hall, C. A., and the St. Paul
office under the direction of John M. Stuart, C. A.
Tlie firm
has well-established branch offices in Chicago, Pittsburgh
and Minneapolis.

— Lamprecht Bros.

& Company

of Cleveland opened their
in the Broad Exchange
Building, 25 Broad Street, with P'rederick J. Curnick in
charge. The firm holds memberships in the New York Stock

New York branch

office this

week

Exchange, Cleveland Stock Exchange, Chicago Stock
change and the Chicago Board of Trade.

Ex

— Myron W.

Greene, Rochester, N. Y., has recently been
interest a block of the $1,000,000 second
mortgage 43^% gold bonds of the Rochester Gas & Electric
Co. an underlying lien of the Rochester Railway & Light Co.
At the recent meeting of the New York State Society of
Certified Public Accountants, Col. Franklin Allen was elected
Col. Allen succeeds Farquhar J. MacRae, who
President.
has been President of the society since 1903.
In an advertisement elsewhere in this i.s,sue, Messrs. A. M.
Kidder & Co., bankers at 18 Wall Street, this city, offer investors a list of guaranteed tax-exempt stocks yielding from
offering at par

and

,

—
—

,

3.75 to 4.65%.
Francis, Bro. & Co., St. Louis, recently issued a circular
regarding the United Railways Company of St. Louis and
its 5% cumulative preferredjstcok.
__ _ _\, _ , _^ _ _j . .. fcj

—

May

THE CHRONICLE.

19 1906.

xc

^otmtuxcml

COTTON.

"Simts.

Friday Night,

THE MOVEMENT OF THE CROP

COMMERCIAL EPITOME.
Friday Night,

The condition
main favorable.

1161

May

18 1906.

of general business continues to

May

18 1906.

by our
telegrams from the South to-night is given below. For
the week ending this evening the total receipts have reached
75,256 bales, against 69,446 bales last week and 83,458
bales the previous week, making the total receipts since
the 1st of September 1905 7,270,408 bales, against 8,828,908
bales for the same period of 1904-05, showing a decrease
.since Sept. 1 1905 of 1,558,500 bales.
as indicated

be in the
Manufacttu'ing industries are generally
active, the labor situation is better than recently, the financial outlook seems more cheerful, money is somewhat easier,
collections have improved and the prospects for the crops apReceipts at
Sat.
Mon.
Tues.
Wed. Theirs.
Speculation is on the whole quiet, the
pear to be promising.
Fri.
Total.
country being occupied, as for some time past, with strictly Galveston
1,874
2,026
3,120
2,690
2,404
1,920 14,034
legitimate business.
Pt. Arthur, &c.
249
249
Lard on the spot has been more active and higher. An New Orleans _- "3469 2,923 '3',2i5 "3,iii
59 2
2,150 18,160
Mobile
933
570
567
1
889
961
3,921
increased demand for export account is reported and the doPensacola, &C300
300
mestic demand has also been of fair proportions. Sales have Savannah
"4",497
"3',545
'2',553
"l",83.3
4',564 20,452
3,520
been made of late at 8.75@8.80c. for Western and 8.623^c. Brunswick
1,243
1,243
""'38
""si " "40 ""137 "'ifs
120
544
for City. Refined lard has been firmer, owing to an advance Charleston
Geor^ret'n, &c.
5
5
"'168
ift the future market at Chicago, a better demand and light
"485
"543
Wilmington _.
"l',4.34
l',26i
576
4,467
offerings.
Refined Continent is quoted at 9.15c., South Washingt'n,&c
""419
"2'^642
"2',327
"737
8"; 745
"l",76i
"l';459
American 9.75c. and Brazil in kegs 10.75c. The speculation Norfolk
N'port N., &c_
108
108
in lard futures at the West has been active with prices ad- New- York
"571 ""479 "I'.OSO ""98
vancing, owing to light receipts of live hogs, strong hog prices, Boston
2",237
9
"588
588
a better cash demand, buying by packers and commission Baltimore
"""50
""142
Philadelphia..
3
8
203
houses and covering of shorts. The advance in the grain
markets has also helped to impart a stronger tone to the pro- Total this week 13,041 11,307 13,966 11,293 12,526 13,123 75,256
Stocks have been reduced to about the lowest
vision list.
point thus far this season. The receipts of live hogs at ChiThe following shows the week's total receipts, the total
cago for the week have been about 50,000 less than for the
since Sept 1 1905, and the stock to-night, compared with

—

'3',

same week last year.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
8.47H

Mon.
8.52^

8.57}^
September deli very. 8. 72

8.60
8.72}^

Sat.

May dehvery
Julv dehvery

M

Tues.
8.52}^
8.62 J^
8.75

Wed.

Thitrs.

Fri

8.72^
8.873^

1905-06.

8.57^
8.67U
8.80

8.65

8.65
8.80

last year:
1904-05.

Stock.

Receipts to

May

This
week

18.

Since Sep
1 1905.

This
week

Since Sep
1 1904.

1906.

1905.

Pork on the spot has been in light demand but prices have
Galveston
14,034 2,436,185 27,600 2,491,382
85,469
134,983
ruled firm owing to the strength of the future market at the Pt. Arthur, &C249
144,918 11,940
257,501
West, light receipts of live hogs, light offerings and the New Orleans
18,160 1,532,658 28,520 2,437,240
l'2'8'!636
l'6'5',242
3,921
224,710
4,384
233,196
14,934
39,992
Light sales have been made Mobile
strength of the grain markets.
Pensacola, &C300 156,170
5,517
179,713
of late at $16 50@$17 25 for mess, $16 25@$18 for clear and Savannah
20,452 1,377,773 32,959 1,617,679
'5'8',43i
'e^jos
$18 50 for family. Cut meats have been in larger demand Brunswick
1,243
176,389
178,317
1 ,523
7,734
5,941
544
166,255
953
206,577
14,212
9,501
and higher as a rule. Offerings have been light and only Charleston
Georget'n, &C5
1,200
897
jobbing orders have been filled. Pickled shoulders are Wilmington
'
" '8',665
4.467
302,787
6,527
334,285
9,789
quoted at 834c., pickled hams 11M@11J^<3-, pickled bellies WasUngt'n, &c
122
8',745
3"5",699
594,947 14,394
650,744
31,993
14@10 lbs., 10i4@'llc. Beef has been in fair demand and Norfolk
N'port N.,
108
20,383
1,246
18,232
659
steadv; mess $8@,.$9, flank $8 623/^, packet $10@,$10 50, New York &c.
15'5",472
5,724
1,024
27,707
105,642
family $12@$12 50, extra India mess $16 50@$17. Tallow Boston
2,237
60,257
849
72,908
6,493
3,950
588
62,017
629
50,225
2,402
1,385
has ruled steady and quiet at 5c. for City. Stearines have Baltimore
203
269
8,035
12,183
2,940
5,275
been more active with oleo easier at 9@9J^c. and lard steady Philadelphia ._
at 10c. Cotton-seed oil has been dull and steady; prime sumTotal
75,256 7,270,408 138,316 8,828,908
518,499
580,977
mer yellow 39c., prime winter yellow 41c. Butter has been
Cheese has been quiet and
ea.sier; Western extras 203^c.
In order that comparison may be made with other years,
Eggs have been steady; Western
lower; State factory 133^c.
we give below the totals at leading ports for six seasons:
firsts 18c.
Brazil grades of coffee have been extremely dull with prices
1906.
1905.
1904.
1903.
1902.
1901.
steady as a rule; Rio No. 7, 7J^@.8c.; Santos No. 4, 8?4c. Receipts at
West India growths have been in light demand and steady; Galv'n, &c_
14,283
39,540
11,370
4,966
4,472
18,584
18,160
28,502
The market for contracts N Orleans.
9,147
19,391
fair to good Cucuta 8^@93^c.
8,047
17,953
Mobile
482
3,921
4,384
612
606
109
early in the week declined, owing to liquidation by tired holdSavannah
20,452
32,959
4,117
4,411
1,943
5,280
ers, large receipts at the Brazilian ports, unfavorable Euro- Cli'ston,&c.
549
953
14
29
116
277
4,467
6.527
31
pean advices and the dulness of the spot trade, but later in Wilm'n,&c.
46
377
232
Norfolk .__
8,745
14,394
6,711
1,564
2,912
3,608
the week an increased demand from outside investors, buyN'p'tN.,&c
108
1,246
226
113
207
168
ing by roasters, a rally in the European markets and reports All others-9,811
4,571
4,144
5,185
1,676
7,621
of a railroad strike in Brazil imparted a firmer tone to the
Tot. this wk
75,256
138,316
24,691
47,955
20,269
53,832
market.
I

•

,

_

.

.

*•

The

May
June

closing prices were as follows:
6.35c. (September
6.65c. January
6.3.5c. October
.- 6.70c. February
6.45c. November . .- 6.80c. (March
6. .55c. December . _
.- 6.90c. (April
j

"

I

July
Au!i;ust

Since Sep.

1

7,270,408 8,828,908 6,952,318 7,479,954 7,257,368 7,041,529

7.00c.
7.0.5c.
7.1.5c.

7.20c.

Raw

The exports for the week ending this cA'ening reach
a total of 80,601 bales, of which 9.710 were to Great
Britain, 4,969 to France, and 65,942 to the rest of the
Continent.
Belcnv are the exports for the week and since
Sept. 1 1905.

sugar has ruled steady with some increase in the derefiners; centrifugal 96-degrees test 3 13-32@
3 15-32C.; muscovado, 89-degrees test, 2 29-32@2 15-16c.;
moias.ses 89-degrees test, 2 21-32@2 ll-16c.
Refined sugar
Week ending May 18
has been dull and granulated has declined 10 points to 4.40c.
Exported to.
Spices have been fairly active with prices generally firm.
Exports
Irom—
Great
ContiTeas have ruled generally steady with the demand fair;
Hritaln. Fr'nce nent.
lower prices for Formosa, however, are expected in the near
(ialveston
8.407
1.914
future, as large supplies are coming forward.
Pt. Arthur. &c.
Kentucky tobacco has been quiet and steady. Labor Now Orleans. 5.141 4.091 27.102
Mobile
troubles continue to be reported.
The large strike at Boston Pensacola
.300
16,401
has had an unfavorable influence on the market in general. Savannah
Hrnn.svvick
The latest reports regarding the new crop of domestic cigar Charle.ston
leaf point to a .somewhat larger acreage, but details are lack- Wilmington...
Norfolk
Some improvement is noted in the demand for old Newport News 1.275
ing.
New York
200
858
4,565
Wiscon.sin fillers.
Buyers continue to show considerable Hoaton
1.075
3.399
interest in the new arrivals of Sumatra and some good-size H.altimore
Phil.i(ielj)hla..
ios
sales have been reported.
Havana has been quiet and firm. Portland. Me..
San Kranclsco.
4.658
Refined jx'troleum has been fairly active and firm; barrels Seattle
-_ -.
668
are quoted at 7.80c., cases 10.30c., bulk 4.70c.
Naphtha Taeoina
382
Portland, Ore.
has been steady at 12c. for 71 degrees in 100-gallon drums. Pembina
Spirits of turpentine has been dull and easier at 65@65J^c.
Total
9.710 4.949 65.942
Rosin has been stronger at $4 20 for common to good

mand from

1900.

From

Sept.

1 1905 to May 18 1900.
Exported to

—

Conti-

Great
Total.

10.381

30,334
.ion

16.401

Britain. France

S.SOOi

1.275
5.623
1.075
3,399
105

nent.

973. 182275, 494
46,875
700.622 195,073
50,593 34,771
06,813 37,043
183,842: 63,859|
97.594

.—-.1

125.721
5.2251
9.000
9.025
6.353
154.407 21.400!
131.993
71.554 12,099
34.256
1

919

919
4.658

668
382

Total.

090,085 1.9.39,361
05.829
112.704
400,098 1,356,393
36.131
121.495
1 51.838
47. .382
612,547 800,248
37..399
134,993
4.400
9,900
157.773 288,719
20,602
2.577
225
6.578
227.800 403.667
141.290
9.297
128.230
44.577
2.765
37.021
37.697
50.SO0
11,993
4.721
4.958

37.697
50.800
11.993
4.721
4.958

80.601 2.659,249 655,164 2,509.714 5.824.127

strained.

Total 1904-05.

Copper has been more active and firmer; lake 18j^(ai]9c.,
185^@18%c. Lead has been firmer at 5.95Ca]6c.
Spelter has been easier at 5.90@6c.
Tin has been firmer at
Iron has been fairly active and steady;
441/^c. for Straits.
No. 1 Northern $18 50@$19 25, No. 2 Southern $17 50@$18.

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
We add similar figures for
cleared, at the ports named.

electrolytic

New

York.

81.284 17.399 51.153 149.836 3.448.077 729.920 3.233.063 7.411.660

.

.

.

.

c
.

<
.
.

.

'

On

Shipbourd, Not Cleared for
Ger-

Great
Brilain. France.

IS at-

Other

10,790

SOO

1,466

1,000
4,000

ioO

3.566
2,000

504

1,500

7.260
14,636

18,056
4,936

2,881
1,000

stock

40,718
34,667
1

.

i)orts.

87,912
50,802
57.431
13,912
10,634
13,878
149,822

,000

300

300

600
18,115

4,300
18,115
5,650
6,000

.

Norfolk
1.000

51

1

1

«'

22 122
77,800
20,880

12,340
l.S,St)5

9,038

23,400 110,750
23,991 188,330
5,206 52,216

28,896 23,992
47,282 ,20,892
12,422
4,1)70

407,749
397,647
268,247

both Lancashire and the Continent have been buying the

That British spinners are
actual cotton freelj'^ in Liverpool.
becoming rather nervous over the question of future supplies,
is apparent from the fact that a large and important deputation interested in the cotton industry of Lancashire has just
interviewed the Prime Minister of England relative to the
The deputanecessitj' of opening up new sources of supply.
tion emphasized the fact, as it views the matter, that "the
cotton trade is in a dangerous position," pointing out that
Great Britain is dependent upon America for 75% of her supply of raw material, and arguing that it is absolutely necessary
to broaden the sources of supply, adding that the only possible salvation lies in North Nigeria; but railways there are inBulls have laid some stress on this incident
dispensable.
and also on the fact that a commission house issued a statement putting the estimated increase in the acreage at only
Reports have been in circulation, moreover, of

week by frost and rains, necessitating more or
To-day prices, after an early advance, deless re-planting.
clined, especially on the next-crop months, owing to long
It is supposed that some of
liciuidation and bear selling.
the leading bulls were liquidating part of their holdings of
Moreover, the weather of late has beJuly and October.
come more favorable and the South has been steadily selling
The general public holds aloof from
the new-crop months.
the speculation, which, according to common report, has
become largely a mere contest for control of the market between leading bulls here and certain spot interests. Spot
cotton has been rather quiet during the week but on Wednesday advanced 5 points, reaching 12 cents for middling uplands, the closing price.
On the basis of the rates on and off middling as established
by the Revision Committee, the prices for a few of the
grades would be as follows:

UPLANDS

Sat.

Mon.

Tues.

Wed.

Thurs.

Good Ordinary

10.90
11.52
11.90
12.34
12.86

10.95
11.57
11 (95
12.39
12.91

10.95
11.57
11.95
12.39
12.91

11.00
11.62
12.00
12.44
12.96

11.00
11.62
12.00
12.44
12.96

11.00
11.62
12(00
12.44
12.96

11.15
11.77
12.15
12.59
13.11

11.20
11.82
12.20
12.64
13.16

11.20
11.82
12i20
12.64
13.16

11.25
11.87
12.25
12.69
13.21

11.25
11.87
12.25
12.69
13.21

11.25
11.87
12.25
12.69
13.21

10.40
11.40
11.56
11.90

10.45
11.45
11.61
11.95

10.45
11.45
11.61
11.95

10.50
11.50
11.66
12.00

10.50
11.50
11.66
12.00

10.50
11.50
11.66
12.00

Low

Middling
Middling
Good Middling
Middling Fair

Fri.

Low

Middling
Middling
Good Middling
Middling Fair

STAINED.
Low Middling
Middling

Low

Mid. Tinged
Good Middling Tinged

middling upland at New York on
18 for each of the past 32 years have been as follows:

The quotations

May

1906. c.
1905-.
1904...
1 903 . .
1902...
1901...
1900...
1899- -.

12.00
8.30
13.40
11.85
QVs
8 1-16

9M
6M

for

1898.
1897.
18961895..
1894..
1893..
18921891..

6 7-16

1890. .12
11882. c-12ii
-16
11889.. .11 1|l881___109-16
11888.. .10
|1880--_11 13-16
7
11887.. .10 15-16 11879-. -12J^
|l878...11i^
11886..
9 3-16
TVs
7 13-16
1885- -lOJ^
11877. .-10 15-16
7 5-16
11884.. -ll'A
11876. -.12 3-16
1

7H

8Ji

1

|1875-.-16i^

1883.. .11

MARKET AND

Market

tSpol

Closed.

SALES.

Futures
Market

.Sales

(

Monday
.

Wednesday
Thursday
Friday
Total

=•35

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THE VISIBLE SUPPLY OF COTTON

00

o

—

w
to
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^

1^

1

-^
Pr

iy<

to-night, as made
Foreign stocks, as

is as follows.
well as the afloat, are this week's returns, and consequently
all foreign figures are brought down to Thursday evening.
But to make the total the complete figures for to-night
(Friday) we add the item of exports from the United States,
including in it the exports of Friday only.
,

May 18—

1906.

1905.

1904.

1903.

961.000
16,000
69,000

815,000
12,000
54,000

582,000
10,000
52,000

650,000
13,000
59,000

Total Great Britain stock. -.1,046,000
Stock at Hamburg
13 ,000
Stock at Bremen
231 ,000
Stock at Ant werp
Stock at Havre
149,000
Stock at Marseilles
4 ,000
Stock at Barcelona
9 ,000
Stock at Genoa
49,000
Stock at Trieste
8,000

881 ,000
11,000
287,000
1,000
121,000
3,000
32,000
51.000
5,000

644,000
22,000
256,000
4,000
180,000
3,000
23 ,000
49,000
11,000

722,000
17,000
280,000
4,000
183,000
3,000
30,000
20,000
11,000

511,000

548,000

548,000

Stock at Liverpool
Stock at London
Stock at Manchester

bales.

463,000

Total European stocks
1 ,509 ,000
India cotton afloat for Europe. 143.000
Amer. cotton afloat for Europe. 253,683
Egvpt, Brazil, &c.,aflt.for E'pe
31,000
Stock in Alexandria, Egypt ... 112,000
Stock in Bombav, India
1,072,000
Stock in U. S. ports
518,499

Stock in U. S. interior towns
U. S. exports to-day

..

316,420
16,182

1

,392 ,000 1,192,000 1,270,000
200,000
188,000
79 ,000

437,000
29 ,000

179,000
904,000
580,977
364,907
14,124

120,000
186,000
35,000
16,000
162,000
69,000
458,000
724,000
320,463
325,634
175,912
105,970
9,228 a5i3.5,685

Total vi.sible .supply
3,971,784 3.980,008 2.672 ,603 2 890,289
Of the above, totals of American and other descriptions are as follows:

American

—

Liverpool stock

Manchester

bales.

.stock

Continental stock

American afloat for Europe...
U. S. port stocks
U. S. interior stocks
U. S. exports to-day

850,000
60,000
412,000
253,683
518,499
316,420
16,182

734,000
43,000
478,000
437,000
580,977
364,907
14,124

459 ,000
42 ,000

454 ,000
120 ,000
320 ,463
175 ,912
9

545,000
49,000
485,000
186,000
325,634
105,970
5,685

Steady.
5 pts. adv. Very steady.
Steady
Steady

C07ltract.

Total.

74
- .

-

955
2,000
2.955

Total American
2 ,426,784 2,652.008 1,580,603 1,702,289
East Indian, Brazil, <tc.
Liverpool stock
111,000
123,000
81 ,000
105,000
Lottdon stock
16,000
12,000
10,000
13,000
Manchester stock
9,000
11,000
10,000
10,000
Continental stock
51,000
33,000
94,000
63,000
India afloat for Europe
143,000
200,000
79.000
188,000
Egvpt Brazil &c. afloat
31 ,000
29,000
35,000
16,000
Stock in .Mexandria, Egypt... 112,000
179,000
162,000
69,000
Bombay, India
Stock in
1,072,000
904,000
458,000
724,000
,

,

,

Total East India,
Total American
Total

Con-

Closed.

5 pts. dec. Steady
5 pts. adv. Steady
-

i

fi' Tz'^
-51
55 *—
en CI

^'X.""
V.

V.

&c

1,545,000 1,328,000 1,092,000 1,188,000
2,426,784 2,652,008 1,580,603 1,702,289

Spot and Contract.

Export sum' n.

Saturday..

—«

—

.

The total sales of cotton on the spot each day during the
week are indicated in the following statement. For the convenience of the reader we also add columns which show at
a glance how the market for spots and futures closed on
same days.

Tuesday

Gf^~

'l

Total Continental -stocks

GULF.
Good Ordinary

Strict

C S

So CO 55 55 55

1

1

last

1

'

5"

V.

51

^
^
r^
Vi
1©
-j^
ijM

1®
Tlie speculation in cotton for future delivery has been on a
moderate scale at irregular prices, in the main, however, takThe princiing an upward drift until the close of the week.
pal sustaining factor, aside from some bullish manipulation
at times, has been the continued activity in the spot markets,
especially at Liverpool, where the transactions day after day
have been 14,000 to 15,000 bales. The reports from Manchester, moreover, have been of a favorable character, and

C

©o oo oo oo

23,3.'-,8
1

Total 1900
Total 1905
Total 1904

damage

—

'

[Vol. Lxxxii.

Ck'xz"2lS2

C K 5;C - ~ c K
tn 3
'/ 5 S»'' =
1'"
k"^ 1^1

1

3.54%.

—

^jr"^5r>0^^^-2-~
^x~
—

Leaving
Total.

wise.

Savannah
Cliarleston
.Mobile

Other

——

9^
FUTURES.— High, low and closing prices at New York:

—

Coast-

many. Foreign

4,108
12,214

Orleans
Galveston ..

New York

'

THE CHRONICLE.

U62
May
New

•

11
11
11
1
1

4,800

50
175
305
60

----.

2,300

664

8.000 11,619

900

4,874
50
1,130
3,205
2,360

vi.'^ible

sui)ply

Middhng Upland, Liverpool...
Middling Upland, New York ..
Egvpt, Good Brown, Liverpool
Pei-uv. Rough Good, Liverpool
Broach, Fine, Liverpool
Tianevelly, Good, Liverpool...

3,971,784 3,980.008 2,672,603 2,890,289
6.25d.
4.39d.
7.36d.
6.30d.
12.00c.
11 '^d.

S.65d.

5Hd.

8.20c.
7H<i.
lO.OOd.

4}4d.

13.15c.

12.0,5c.

8?^d. 9 11-16d.
10.50(1.

8.60(1.

6«^d.
6H<i.

SVsd-

5Hd.
Continental imports past week have been 117,000 bales.
The above figures for 1906 show a decrease from last week
of 109,238 bales, a loss of 8,224 bales from
1905 and
an excess of 1,299,181 bales over 1904.
5 9-16d.

4 3-16d.

May

THE CHRONICLE.

19 1906.]

AT THE INTERIOR TOWNS the movement— that is, the
since Sept. 1, the shipments for
the week and the stocks to-night, and the same items for
the corresponding period for the previous year is set out
in detail below.

week and

receipts for the

—

1163

QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS. — Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week:
Closing Quotations for Middling Cotton on

goo
«i r-

?0

May

Monday. Tuesday. Wed'day. Thursd'y. Friday.

Sat'day.

18.

otr

2:

Galveston
IIH
New Orleans. 11 7-16
11 5-16
Mobile

11^

113^

11 7-16
11 5-16

11 7-16

Savannah

11 5-16

Charleston

113-^

113^
11 7-16
llJi
11 3-16
11!^
113i

11 9-16
11 7-16

11 9-16
11 7-16

113i
11 5-16
11 3-16
113i

11 3-16

11.95

11.95

1134
11 3-16
113^

jS

Wilmington.. 113€

5J
Co

Norfolk

11^

Boston

11.95
11 'M

llM

11

IIM

12.15
11 7-16

12.20
113^

Memphis

11^

11^

St. Louis

o

3 c

11-3-16
113^
1114
IIJ^
11.90

Augusta

re

lli5^

llJ^
113^

12.20
113^
115^
11?^
113^

12.25
113^
11 7-16
11?^
113^

12.00
ll>i
12.25
113i
11 7-16
11 7-16
11 9-16

11

11

11

11

O >

^o "
— '^

n

tc

?5

.cr

.fJ

-p
3

li
8=

03.

Baltimore
Philadelphia

.

Houston
Little Rock.. 11

*. to

- CK en

!*».

tc to

I

CJwtOOrf^lOMW-JOltOi
bi 05 CC M --I 00 to^-J04^i

OCC"

—

Week ending

2.0 =

hl^ i-"

tote
^'tobo 00

Cn 00

8- S3

^02<I(*>-tO

11^

113i

11^

12.00

11^
12.25

11^
11 7-16
11 7-16
11 9-16
11

The closing quotations to-day (Friday) at other important
Southern markets were as follows:

1-1

CO

t000W0lC:00rf>.t0O

IIM
11^

nn
11 5-16

-16

11

.Atlanta

[Louisville ...
Louisville
I

Montgomery

-113i

Nashville

.11

[Natchez
Raleigh
Shreveport

I—
CO
l-'F<I
o X ^ »-'<I^»*^i-'C:CTr:t^MC:h^Wo t»Cn<J>tkt^QctO^-*C''OC^tO
31 O
atoooo tototO'c;c;tocoH-tooa;oto^-CitoM^-*oo>--totootocnOi^toto

Columbus, Ga.ll
Columbus, Miss. lOM

cobsoom CilK-'COCrf^tOOi0 33 0:if»^00«DCOH-OOi^tOOCO-JH-^COOiOT50
[(xaJCJitDCTi^Orf'i-'CstOtOCOtOtOOOCOOOiWC^lOOOOCntOOOOtO
3:^ too 0^jH-o;o;OOOOCOOCOCnCOO>Cni<^0>t^tOMMao~J»-tCOOCn'-'

ORLEANS OPTION
The highest,
lowest and closing ciuotations for leading options in the New
Orleans cotton market for the past week have been as follows:

I--

1--

it^

>-•

05

to

lOtO

OCnO'

O,

•-'

•^i^-cnciWc-j

I

Orf>-Cn

lotocorfi.

01^

coij^ocoi-'-atoMFJOitDtoo'-'MOo

oocoeot—

_

I

NEW

(^ t^ tj to

!_.

I

MARKET.—

^^it'^h^tootol

ooccwi^tocntoi^ooo^-o

O to O to O ^-QTCOtOJ'.i^OO^-tOtt'-OaOi'OOit^j: OlOXOCO<IOtD

Monday. Tuesday. Wed'day. Thursd'y. Friday,

Sat' day.
12.

May

May
a;^COi

>t>.

CO

C»3

to 01

I

C^Oi

May —
Range
Closing
July —
Range
Closing
October —

-'C»-J<ICnOOOtOtOi-*C04^C02tCCO>-^COOOCT<I-JOO^tOiO—':04i

OOCti o^ooooivt-cni— cctocoo>&-'r-. ooooc^>^-oo-^-jMo>f^-*05
OOOO' o ^ 00 corfa-rorf^^-ooit^toto ocoocioctocg ;o cn to oo m to oo co

OCnCOi

l—h-i

00

to

CO to

h-

>f»

I-"

I

s.^

1-'

^-00*035 "oT>-'-^bio
to
loVi tob 1*^ to to to tobV to *-"vt^
tocn^CnMOi^^^OOOO-^iCntoOt^COi^-CnMH-cocn^tO—'0:*».to

CnOOOiOO to

S-fC

00 tOtOCOXCiJO~JCOOOOC4^MCO CnOi-'rf^tOOOi<I

-0

December

rorf^ooc
CO

—

to^

'-'

OJtOOitO

to
to
O CO M O <I
to
O 00
it>.

to

It'
Oa.

>-'H-OOC3toC5toCnh->t>-c;ii

I

CO

0>-'>&.CnOitOtOt0^^i(^0:CncO

OiH^OOOiOOCntOOO^-O^'

ooi^ to'toco ocoo:it>.OTCOco

t^QOtOCOOOJ'OOht*.

May

17.

11.30-.35 11.31-.38 11.3111. 30-. 31 11. 39-. 40 11.32-

May

18.

11.29-.33
11.31-.33

—

—@—
—

— 10.

62-. 65 10. 66-. 69 10. 67-. 77 10. 68-. 75
10. 60-. 61 10. 69-. 70 10. 64-. 65 10.71-. 72 10. 67-. 69 10.63

Closing

—

^ cn to 'X CO GO

16.

—

—

Tone
Spot
Options...

!

May

10. 52-. 62 10. 55-. 63 10. 55-. 64 10. 57-. 66 10.62-.70 10.55- 66
10. 53-. 54 10.63
10.56-. 57 10. 65-. 66 10. 62-. 63 10.57- ,58

—

January
Range

I-'*'

005COCOCOrf-4^>— OOTtOi

—

Closing

if^tOOT 0^ CD tOCOOCOit^OOOCDOCO^OOO-itOOOtO^CntOtO^^OiCnO—'j:OC-.
to coo

15.

10. 52-. 64 10.55-.64 10. 55-. 65 10.59-. 66 10. 62-. 70 10.55-. 66
10.54-.55 11. 63-. 64 10.57-.58 10. 66-. 67 10.62-.63 10.57-.58

Range

— MMCO
H-toototototooocctOH-^ji—vicni^kcrjCoooMOto-icnWOto^
OtOOMGCit.CncOCOOOi--ffltOtOCn*.tOXOTi*>.tOO

May

11. 38-. 49 11.41-.49 11. 42-. 52 11. 45-. 53 11. 48-. 55 11.41-.51
11.48-.49 11. 43-. 44 11. 52-. 53 11. 48-. 49 11. 44-. 45

11.41

Closing

ototoc

14.

11.22-.34 11.2511.23-.25 11.33-

Range

bbco

llj^
llj^

&,

Quiet
Steady.

Quiet.

Steady.

Steady.

Firm

Stead}'.

Steady.

Firm.
Steady.

Quite.
Steady.

OtOtO»^CiOtOO>^3DCOCna;OT-JOJtOOOOCOCOOOtOO-. tOcDcT. S^^if^OH-to CO ^ O M O O
W^EATHER REPORTS BY TELEGRAPH.— Telegraphic
show that the interior stocks have de' advices to us this evening from the South indicate that the
creased during the week 18,224 bales, and are to-night 48,487
bales less than at the same period last year.
The receipts weather has been more favorable the past week. Over much
at all the towns have been 27,131 bales less than the same of the area the rainfall has been light or there has been no
week last year.
moisture, but in portions of Northern Texas heavy preOVERLAND MOVEMENT FOR THE WEEK AND cipitation is claimed to have done damage. On the whole
SINCE SEPT. 1. We give below a statement showing the crop is doing well but in some districts rain is now
the overland movement for the week and since Sept. 1, i-eported to be needed.
as made up from telegraphic reports Friday night.
The
Galveston, Texas.
In general the crop is doing well, but
results for the week and since Sept. 1 in the last two years there are
some complaints from North Texas of washouts
are as follows:
and overflow caused by recent heavy rains. It has rained
1905-06
1904-05
on one day of the week to an inappreciable extent. The
Mmj 18.
TT'eefc.
Since
Since
i

The above

totals

—

—

—

1

Shipped
Via St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via other routes, &c

Sept. 1.

6,673
1,286

583
2 ,884

1,148
3,781

Total gross overland
Deduct sli ipine.nts
Overland to N. Y., Boston,

—

Between

interior

10,328

<fec.

towns

Total to be deducted

3.028
217
1,354

400
1,401
1,686
4,978

1,715

163,023
28,565
51,387

4,973

242,975

2,771

487

198,241

11,756

total net overland. a

1.

560,739
305,544
48,671
89,148
52,551
291,203

22,698 1,347,856

136,033
18,984
43,224

4,599

Sept.

3 ,905

16,355 1,061,103

Inland, &c., from South

Leaving

Week.

438,565
194,999
42,361
92 ,039
53,430
239,769

862,922

17,725 1,104,881

thermometer has ranged from 62 to 78, averaging 70.
Abilene, Texas.
There have been showers on three daj^^s
during the week, the precipitation reaching thirt3''-eight
hundredths of an inch. Average thermometer 75, highest

—

88, lowest 62.

lowest 55.

Corpus Christi, Texas.
da}\s the j)ast week.
ranging from 64 to 78.

two

movement by

rail to

Canada.

The foregoing shows

the week's net overland movement
has been 11,756 bales, against 11,725 bales for the week last
year, and that for the season to date the aggregate net overland exhibits a decrease from a year ago of 241,959 bales.
1905-06

1904-05

Sight and Spinners'
Since
Takings.
Week.
Sept. I.
Week.
Receipts at ports to Ma.v 18
75,256 7,270,408 138,316
Net overland to May 18
11,756
862,922 17,725
Southern consumption to May 18- 45,000 1,672,000 44,000

In

Total marketed
Interior stocks in excess

Came

into sight during

Total in sight

May

Since
Sept. I.

8,828,908
1,104,881
1,580,000

-132,012 9,805,330 200,041 11,513,789
..alS,224
181,243 a37,955
303,247

week... 113, 788

18

Norfhernspins.' takings to

162,086
11,817,036

9,986,573

May

18 26,271 2,109,878

47,729

2,017,993

Week

—

— May 20
1903— Mav 22
1902— May 23
1901— May 24

1904

71,

—

thermometer has ranged from 60 to 93, averaging 77.
Dallas, Texas.
We have had heavj' rain on one da}'
during the past week, the rainfall being two inches and
twenty hundredths. Average thermometer 68, highest 84,

—

lowest 52.
Fort Worth, Texas.
It has rained heavilj'- on two days of
the week, the rainfall being three inches and seventj'-eight
hundredths. The thermometer has averaged 71, the highest
being 82 and the lowest 60.
Henrietta, Texas.
There has been heavy rain on one day
the past week, the rainfall reaching two inches and twenty
hundredths. The thermometer has averaged 68, ranging
from 51 to 85.
Huntsville, Texas.
Rain has fallen lightly on one day
during the week, the precipitation reaching twenty-.seven

—

—

—

hundredths of an

incii.

Kerrville, Te.vas.

into sight in previous years:
_

The thermometer has averaged

lias

ranged from

have had rain on two

daj's during

The thermometer

67 to 85, averaging 76.

a Decrease during week.

Movement

— There has been a trace of rain on

It has rained lightly on one day of the
The
rainfall reaching one hundredth of an inch.

Cuero, Te.ras.

week, the
a Including

—

Brenham, Texas. Rain has fallen on two days of the
week, to the extent of one inch and forty hundredths. The
thermometer has averaged 70, the highest being 84 and the

the

—

Bales.
Since Sept. 1
..57,242 1903-04— Mav 20...
.86,01
1902-03— Mav 22...
46,493 1901-02— Mav 23...
..74,614 1900-01— Mav 24...

Bale.').
.

9,548,239

.10,1.58,664
.

.

9,795,180
9,613,284

— We

the rainfall being two inches and sixty
Average thermometer 75, highest 89 and

past week,

hundredths.
lowest 60.

—

Lampasas, Texas. Rain has fallen lightly on one day
the past week, the rainfall being two hundredths of an inch.

—
—

.

.

THE CHRONICLE.

1164

The tluTiiionictcr litis averaged 72, tlio highest being 90 and
the lowest .54.
Longriew, Texas. We have had rain on one day during
the week, to the extent of eiglitj'-five hundredths of an inch.
The thennomcter has averaged 7G, ranging from 63 to 89.
hiding, Texas.
It has rained lightly <>n three days of
the week, the rainfall reaching sixteen iiundredths of an inch.
The thermometer has ranged from .5.5 to 89, averaging 72.
Nacogdoches, Te.ras.
Rain has fallen on one day of the
wc(k to an inappreciable extent. Average thermometer 67,
highest 84, lowest 49.
Palestine, Texas.
Rain has fallen liglitly on one day the
past week, to the extent of one hundredth'of an inch.
The
thermometer has averaged 74, the highest being 82 and the
lowest 06.
Paris, Texas.
We have had rain on two days of the past
week, the rainfall being sixty-one hundredths of an inch.
The thermometer has averaged 70, ranging from .54 to 86.
San Antonio, Texas. It has rained on one day of the week,
the rainfall reaching eighteen hundredths of an inch. The
thermometer has ranged from 60 to 88, averaging 74.
Weatherford, Texas.
We have had rain on three days
during the past week, the rainfall being one inch and fifty
hundredths of an inch. Average thermometer 7.3, highest
86 and lowest 59.
Shreveport Louisiana
It has rained on one day during
the week, the rainfall being twenty-three hundredths of an
inch.
The thermometer has averaged 72, ranging from 55

—

—

—

—

—

to 88.

—

Neiv Orleans, Louisiana. Rain has fallen on one day the
past week, the rainfall being four hundredths of an inch.
The thermometer has averaged 73.
Columbus, Mississippi. Good stands of cotton have been
secured and fields are clean. Weather fine this week.
Leland, Mississippi.
There has been no rain during the
w^eek. Average thermometer 66.9, highest 86, lowest 43.
Vicl'sburg Mississippi.
This has been a favorable week
for cotton but light rain would be beneficial.
It has been
dry all the week. The thermometer has averaged 73, the
highest being 89 and the lowest 55.
Meridian, Mississippi. The weather has been clear and
pleasant all the week ideal for farming operations.
Helena, Arkansas.
There has been no rain since the
6th and it is now needed. Crops are doing well in bottoms
but are backward on uplands. The thermometer has
ranged from 53 to 87, averaging 71.

—

—

—

,

—
—

—

—

Nashville, Tennessee.
Warm rains are now needed for
cotton.
Dry all the week. The thermometer has ranged
from 66 to 89, averaging 76.
Memphis, Tennessee. The weather has been more seasonable the past week, but dry.
Cropr now need moisture.
The thermometer has averaged 73.1, the highest being 86.8
and the lowest 57.8.
Mobile, Alabama.
Rain is generally needed to assist
germination and growth. Some planting is j^et to be done.
It has been dry all the week.
The thermometer has ranged

—

—

from 50 to 84, averaging 70.
Montgomery, Alabama. Crops are doing well. We have
had a light shower on one day during the past week, the
rainfall being three hundredths of an inch.
Average ther-

—

mometer

but comprehensive statement indicates

brief

at a glance the world's supply of cotton for the week and
since Sept. 1, for the last two seasons, from all .sources from
which statistics are obtainable; also the takings, or amount
gone out of sight, for the like periods.
1904-05.

1905-06.

Cotton Takings
Week and Season.

Week.

supply .May 11
Visihle supply Sept. 1
re(eii)ts to

1

ti

1,123,887
162,086 11,817,036
07,000 2.195,000
9,000
169,000
8,000
810,000
4,000i
137,000

368,000

25,000

Total supply

Season.

4,048.056

113,78Si 9,986,573[
44,000; 2,331,000!
11,000
242,000
781,000
1 ,000

.

Other India ship'ts
Alexandria receipts to .May
Other supply to May 16. a

Deduct

Week.

Season.

2,545,470

May 18..
May 17
to May 17.

Aiiu-ricauin sight to

Hoiubay

I

4,081.022

V'isil)le

4,275,810 16,254.043 4,298,142116,251,923

—

Visible supply to

May

18

Total takings to

May

18...

3,971,784

3,971,784 3,980,008

3,980,008

318,134 12,271,915
272,1341 9,641,915
46,000 2,630,000

.304,026 12,282,259
218,026 9,198,2.59
S6,000| 3,084,000

Of which American
Ol which other

a Embraces receipts in Europe from Brazil, Smyrna, West Indies,

—

,

[Vol. LxxxiL

WORLD'S SUPPLY AND TAKINGS OF COTTON.—
The following

—

—

—

.

<S:c.

NEW YORK COTTON EXCHANGE.— .YoTwmohon.s.—
of the New York Cotton Exchange has selected the following ticket to be voted for at
the annual election, which will be held on ^londaj^ June 4:
For President, Walter C. Hubbard; Vice-President, Henry
H. Wheeler; Treasurer, James F. Maury; Board of Managers
Richard A. Springs, Geo. W. Baily, J. E. G. Higgins,
Chas. W. Lee, L. L. Fleming, John Tannor, James W.
Wenman, G. Howard Wilson, L. EUinger. A. R. Marsh,
William P. Jenks, Frank H. Wiggin, Fergus Reed, Charles
A. Shearson and W. R. Craig.
Trustee of the Gratuity
Fund Edward E. Moore. For Inspectors of Election
William A. Boger, James C. Royce and William G. Carr.

The nominating committee

—

—

COTTON GROWING IN CHINA.— The
Commerce and Labor

Department

of

recently received the following:

According to a report from Manchester, England, the Chinese Government is encouraging tlie development of cotton growing in China. It is
to some extent an old industry in that country, but the'Government, according to this report, realizes the shortcomings of the Chinese and has
encouraged Japanese to supervise the matter. The latter, it is said, will
engage expert cotton growers from the United States and get them to look
over the land, selecting that which might profitablj- be used for the growing of this important crop.
There are reasons to believe that cotton growing might be carried on
successfully in China as compared with almost any otherforeign territory.
The cotton belt in the United States is largely included between 30 and
37 north latitude. Between Jhe same parallels in China it is asserted
that cotton could be jiroduced almost equally well.
From Shanghai
north there are vast alluvial plains, which experts have maintained are
well fitted for cotton growing.
There would be an abundant supply of
the cheapest farm labor, and with Japanese supervision it is thought that
much can be accomphshed. Shanghai is a little south of Savannah.
Chinese competition in cotton growing is much more to be feared than
competition in the Nigerian territory in .\frica. The (Tiinese would make
the best kind of laborers for work in a cotton field and the cotton manufacttuers of Europe will probably aid them in the development of this
It is an experiment, however.
industry.
Japan would manufacture
the cotton into cloth and therefore would have an interest in seeking to
estabhsh cotton growing in China. The American producers express no
fear of the development of the Chinese field, and even should it prove
successful the demand for cotton increases so rapidly that it would make
no particular difference to growers in the United States.

70, highest 85, lowest 48.
Selma, Alabama.
No rain during the week. Farm work
has made good progress. Replanting continues. The
JUTE BAGS, BAGGING, &c.— The demand for jute
thermometer has averaged 73, the highest being 87 and the
bagging has been only moderate during the week under
lowest 60.
Madison, Florida. There has been no rain the past week. review, but prices are firm at 8^c for l-?<4 lbs. and 8J^c.
The thermometer has averaged 68, ranging from 47 to 82. for 2 lbs., standard grades. Jute butts dull at 3@4c. for
Augusta, Georgia. Dry weather has prevailed all the bagging quality.
week. The thermometer has ranged from 47 to 89, averagINDIA COTTON MOVEMENT FROM .\LL PORTS.—

—

—
—

ing 70.

—

Savannah, Georgia. We have had rain on two days during
the past week, the rainfall being eight hundredths of an
inch.
Average thermometer 69. highest 81, lowest 50.
Charleston, South Carolina.
There has been rain on one
day the past week the rainfall reaching twenty-six hundredths of an inch. The thermometer has averaged 69,
ranging from 55 to 79.
Greenwood South Carolina. Dry all the week. The thermometer has ranged from 54 to 79, averaging 66.
Statehurg South Carolina.
There has been no rain during
the week, but warm nights are now as greatly needed as
moisture for the heavy growth of cotton. Average ther*
mometer 69, highest 88, lowest 45.
Charlotte, North Carolina.
Weather fine for the growing
cotton crop.
No rain during the week. The thermometer
has averaged 71, the highest being 88 and the lowest 57.
The following statement we have also received by telegraph, showing the height of rivers at the points named
at 8 a. m. of the dates given:

—

—
—

,

,

—

May
New

Mmi

19 1905.

Fid.
Orleans

Memphis
.

IS 190i3.

Nashville

Shreveport
Vick.sburg

Above .zero
Above zero
Above zero
Above zero
Above zero

of Kause.
of frauije.
of gauKC-

of gauge.
of gauge.

Fret.

1,5.7

13.4
20.1
13.4
24.2
33.0

17.3
9.0
22.2
37.5

OUR COTTON ACREAGE REPORT.— Our cotton acreage report will probably be ready about the 1st of June.
P.irties desiring the circular in ciuantities, with their business
card printed thereon, should send in their orders as soon as
possible, to ensure early delivery.

receipts of cotton at Bombay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:

The

May

1905-06.

17.

Week

Receipts at-

Bombav
E.rporls from

For

Week

Sept. 1.

Great

the

Since

Since

44.000 2,331.000

—

1903-04.

1904-05.

Since

Sept.

Week

1

67,000 2,195,000; 61 .000

Week.

Sept.
i

Since September

Confinent.

Total.

11,000
7,000
14,000

11,000
7,000
16,000

4,000
1,000

4,000
1,000

1,000

1,000

Great
Britain.

1

.

.8.38,000

1

Continent.

Total.

50, 000
16,000]
89,000;

651,000
263,000
757,000

701 ,000
279,000
846,000

5,000
2,000
3,000

85,000
21,000
25,000

90,000

1,000

2,000
2,000
8,000

36,000
13,000
27,000

38,000
15,000
35,000

6,000
7,000
10,000

7,000
7,000
10,000

12,000
7,000
6,000

114,000
131,000
165,000

1.000

21 ,000

2,000

16,000
24,000

22,000
16,000
26,000

69,000
27,000
106,000

874,000 943,000
421,000 448,000
968,000 1,074,000

Britain.

Bombay
1905-06..
1904-05.
1903-04.
Calcutta
1905-08..
1904-05.
1903-04.

2,000

i

23 ,000
28,000

Madras
1905-06.
1904-051903-04.
All others—
1900-00.
1904-051903-04.

Total all—
1905-06.
1904-05.
1903-04.

1

May

THE CHRONICLE,

1906.

11)

According to the foregoing, Bombay appears to show an
increase compared with last year in the week's receipts of
23,000 bales. Exports from all India ports record a gain of
6,000 bales during the week and since Sept. 1 show a
decrease of 495,000 bales.

ALEXANDRIA RECEIPTS AND SHIPMENTS OF
COTTON. — Through arrangements made with Messrs.
Choremi, Benachi & Co., of Liverpool and Alexandria, we
receive a weekly cable of the movements of cotton at
Alexandria, Egypt. The following are the receipts and
shipments for the; past week and for the corresponding week
of the previous two years:

now

Alexandria, Egypt,

May

1905-06.

1904-05.

1903-04.

6,000
5,857,117

16.

60,000
6,079,143

8,000
6,433,516

(cantars a) —

Receipts

1165

Great French
Britain, ports,

New York...
New Orleans-

200

America

Tacoma
4,949 40,624

9,710

Total

6,173 13,437

80,601

300
16,401
1,275
1,075
3,399

105
4,658

The exports to Japan since Sept. 1 have been 108,713 bales
from Pacific ports and 15,498 bales from New York.
Cotton freights at New York the past week have been as

c.

c.

Tues.

Wed.

Thurs.

Fri.

15(oU6

15(5)16

15(uU6

15@16

16

l'6

16

20
18@,20

20

20

18(5 20

18(c&20

22

16

16

20

18(a;20

18@20

18{i7),20

c.

23
17
23

22
17
23

23

22
17
23

23

22
17
23

30

30

30

30

30

30

22
18
34
55

25

25

25

18

18

18

25
18

34

34

34

55

25
18
34
55

55
55
a .\nd 5 per cent.

a25

c.
_c.

Ant-

V.

20

c.

Hamburg
Antwerp

2,000 208,306
4,000 127,388
8,000 307,225
200 47,120

16

15(?i

Mon.
15@16
16

Sat.
c.

Reval, indirect -f.
RevaL V. Canal .c.
e.
Barcelona

Genoa

c.
c.

Trieste

Japan, prompt -C.

22
17

(iuotations are cents per 100 lbs.

1

98

668
382

._
...
.__

4
...

Manchester

7,050 704,766 13,200 670,359 14,200 690,039

Total exports
is

664
382

4 5,704

5,550

Seattle

Ghent,
1,750 194,925
3,750 138,616
7,000 272,327
700 64,491

700 189,574
157,548
6,250 290,600
100 67,044

_

Manchester
Continent

cantar

5,623
36,334
10,381

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

3,-399

Bremen

A

Total,

...
...
...
...
...
...
...
...
...
4,658

__.
-..

300
350

Japan.

&c.

105

Philadelphia.
San Francisco

Liverpool

This
Since
week. Sept. 1

This
Since
week. Sept. 1.

Since
This
week. Sept. 1.

Exports (bales)

o

North. South.
818 1,717
1,000 5,870
4,005

10,501

Baltimore...

Havre

Liverpool

8.58
2,030
4,091 20,232
4,462

5,141
Galveston ... 1,914
Pensacola ...
Savannah ...
Newport News 1,275
Boston
1,075

follows:

This week
Since Sept.l

To
To
To
To

— Otk. Europe — Mex.,

Ger-

many.

17

34
55

—

Ib.s.

This statement shows that the receipts for the week were
6,000 cantars and the foreign shipments 7,050 bales.

COTTON ACREAGE— MESSRS. LATHAM, ALEXANDER & CO.'S ESTIMATE.— Under date of May 19 Messrs.

LIVERPOOL. By cable from Liverpool we have the
following statement of the week's sales, stocks, &c., at
that port:
Sales of the

May

April 27.
bales. 56,000

week

Latham, Alexander & Co. issue their annual estimate of cotActual export
8,000
ton acreage. The estimate is based upon 3,482 replies of Forwarded
73,000
makes the average increase in Total stock— Estimated --1,0.58, 000
average date of May 14, and
Of which American— Est. 929 ,000
acreage 3.54%, the area this year being placed at 27,956,010
acres, against 26,999,552 acres in 1905,
acres.

an increase of 956,458

MANCHESTER MARKET.—

Our report received by
cable to-night from Manchester states that the market
The demand for
is firm for both yarns and shirtings.
both home trade and foreign market is good.
give the
prices for to-day below and leave those for previous

May

4.

62,000
4,000
3,000
54,000
10,000
101,000
977,000
866,000
29,000
22,000
197,000
158,000

Of which exporters took-- 3,400
300
Of which speculators took
Sales American
52,000

Total import of the week. -. 75,000
48,000
Of which American
.Amount afloat
171,000
131,000
Of which American

May

11.

18.

71,000
7,000
3,000
63,000
7,000
67,000

60,000
4,()(J0

2,000
53,000
6,000
68,000
986,000
871,000
83,000
65,000
148,000
104,000

961,000
850,000
48,000
39,000
115,000
74,000

The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:

We

weeks

of this

and

year for comparison:

last

Saturday.

Monday.

Tuesday.

We&'day.

Thursday.

Fair
business
doing.

Large

Large

Large

Large

Quiet,

Spot.

business
doing.

business
doing.

business
doing.

business
doing.

Market
12:15

P.M.
1905.

1906.
8 '4 liis.Shirh

32s Cop.

itiQs,

Uncut.

Upfs

13

&
@

9
9
8"^

20
27
4
11

9c.

IS

10 >4 6

10«
lOH

Cft

May
9,^

s.

6H®9 7H
6H@9 714
6H@9 114

6

6

101^

®
@

lOK

r.

7

10?^

fi

7J4@9

(if'9

8
9

8«

32s Cop
Twist.

d.

io

d.

Mid

d.
s. d.
6>-^C&9
7K-

Twist.

Apr. d.

common

Cot'ii

d.
C.04 7 7-16

6.16 7H
6.07 IVa

@
&>
®

6.08 1)4
@,
6.18 7 9-16 (5>
6.25 7?^
(Si,

Mid .Uprds

Com

Ihs. Shirt-

ings,

Mid

common

d.

s.

8 5-16 5
8 "4 5
SH 5

8^
83-^
SH

9
9
9

s.

d.

®8 7H
(®8 7H
@8 7H

5 9Vi@S
5 10^(818
5 10J^(a>8

m

7}4

7H

6.19

0.21

6.21

6.26

6.25

14.000
2,000

14,000
3,000

15.000
3,000

15.000
4,000

15,000
1,500

.Steady at
3 (fit 4 pts.
decline.

Steady at

Steady at

Steady at

Steady at

2 points
decline.

advance

St'y, unch.
2 pts.
decline.

Quiet at

V'y

1@3

1
1

Spec.&exp

d.
4.24
4.17
4.16

0.15

8,000

Sales

Upls

to finest.

d.

Futures.

500

Market
opened

J

Market

VSt'y, unch

4

4.24
4.36
4.39

P.M.

Friday.

Steady,

1

\\
J

unchanged

®

Pt.

I

advance.

@

1(3)'2

pts.

advance
pts.

advance

points

2

1

point

decline.

@

Easy at 1 pt. B'r'ly .st'dy
st'y
pt.dec.Cgi dec.@3pts. iit l(ffi2 pts.
decline.
pt. adv. advance.

prices of futures at Liverpool for each day are given
Prices are on the basis of Uplands, Good Oi'dinary
clause, unless otherwise stated.
The prices are given in pence and 100th. Thus: 5 99 means 5 99-lOOrf.

The

SHIPPING NEWS.— As shown onfa

previous page,
the exports of cotton from the United States the past week
have reached 80,601 bales. The shipments in detail, as
made up from mail and telegraphic returns, are as follows:

below.

Sat.
12.

May

Mon.

Tues.

sMay 14.

May

15.

Wed.

May

16.

Thurs.

May

17.

Fri.

May

18.

Total bales.

NEW YORK— To

I-iverpool, per Celtic, 100: Cevic, 100
200
51 Sea Island; La Gas702 foreign
858
To Bremen per Cassel 1 ,930
1 ,930
To Hamburg, per Pretoria, 100
100
To Antwerp, per Kroonhmd, 268
268
To Reva! per Cassel 550
550
To Genoa, per Citta di Milano,«341; Prinzess Irene, 1,051
1,392
To Naples, per Prinzess Irene, 325
325
To Liverpool— Mav 14— Barrister, 5,141
5,141
11
To Havre Mav
Louisiane, 4.091
4,091
To Bremen Mav 1 2— Missouri 1 8 ,279
18 ,279
To Hamburg— May 11— St. Thomas, 1,953
1,953
To Copenhagen Mav 14 Guernsej-, 1,000
1,000
To Barcelona— Mav 16— Porto Rico, 3,450
-.. 3,450
To Genoa— May 17— Birmingham. 2.420
2,420
GALVESTON— To Liven)ool— Mav 11— Polvcarp, 1,914
1,914
To Hamburg— Mav 16— F.urrs'field, 4,462
4,462
To .\nl\verp— Mav 12— Corbv Castle, 4,005
4,005

To Havre, per Daleby, 105 upland,
cogne

12

1214

4

I2,ki

d.

d.

d.

,

,

,

,

,

NEW ORLEANS—

—
—

—

,

—

PENSACOLA— To

—

Trieste— Mav

12— IMrmingham,

300

SAVANNAH— To Hamburg— May 17— Linchsfarne,

— May 12 — Serbury, 7,137
1.427
To Reval— May 6— Europa ,350
To Barcelona — Mav 15 — Marianne, 5,050
To Genoa— May — Marianne,
To Bremen

May

d.

May

99
99
00
00
5 97
5 85

May-June
June- July
July- Aug.
Aug. -Sep
.Sep. -Oct Oct .-Nov.
Nov. -Dec.
Dec. -Jan.
Jan. -Feb

5
5
5
5
5

Feb.-Mch.
Mch.-Apr.

300

350

d.

d.

d.

d.

d.

d.

06 6 05 6 05 6 03
06 <i 05 6 05 6 03
06 t> 05 6 06 6 03
06 6 05 6 05 6 03
99 5 97 5 97 5 95
87 5 84 5 85 5 83
81 5 77 5 78 5 75
79 5 76 5 76 5 74
79 5 76 5 76 5 74
80 5 77 5 77 6 74
81 5 77 5 78 5 75
82 5 78 5 79 5 76

May

18 1906.

wheat flour have been strong and in some cases
Advances, however, have been little more than

Prices for

5,050

300

d.

6 01 6 01 6 01 6 02 6
6 01 6 01 6 01 6 02 6
6 02 6 02 6 02 6 02 6
6 02 6 02 6 02 6 02 6
5 98 5 97 5 96 5 96 5
5 85 5 85 5 84 5 85 5
5 79 5 78 5 77 5 78 5
5 77 5 77 5 76 5 77 5
5 77 5 77 5 76 5 77 5
76 5 77 5 77 5 76 5 77 5
77 5 78 5 78 5 77 5 78 5
7S 5 SO 5 79 5 78 5 79 5

98
98
99
99
95
84
77
76
76

Friday,

8,.564

1.5

78

76
76
76
77

5 95 5
5 95 5
5 96 5
5 97 5
5 93 5
5 82 5
5 75 5
5 73 5
5 73 5
5 74 5
5 75 5
5 77 5

BREADSTUFFS.

—

— Mav 1.5— Marianne,300
200
NEWS— To Liverpool— May

d.

5
5
6
6

1,937
1,937
16 Europa,

1

To

H

4
12M 4 12,14 4 12M 4
'4
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
12

higlicr.

200
nominal, as business continues very quiet, not only here
15— Rappahannock,
In
._
.1.275 but also at thc^ principal milling centres of the country.
Liverpool— May 14— Ivernia, 477
May 15—
spite of the dulness, millers have advanced selling prices for
Canadian 389
866
some grades, and in some cases have shut down the mills
To Manchester— May 11 — Caledonian, 209
209
rather than accept bids.
The stronger tone, however, is
BALTIMOI5E— To Bremen— Mav 16— Breslau, 3,399
--- 3,399
PHILADKLPIHA-To Liverpo :))- Mav 4— Westen land, 105_. 105 traceable in part to the recent advancir in wheat prices. At
SAN FR.\NCLSCO— Io .Jai)an— .Mav 1— Mongolia, 1,208
May
Minn(apolis the output is rrlativcly heavjs far in excess, in
Mav 17— Doric, 2,300
.5— China, 1,L50
4,658
Forftict, ot the demand, iind stocks continue to incroa.se.
SEATTLE— To Ja|)an— .Mav 15— Shinano Maru, 239
Mav
Trieste

NEWPORT
1,275
BOSTON— To

.

1

_

16— r>yni,
To Canada

TACOMA~To
Total

The

425

..

— Mav

15— Shinano Maru, 4
.Japan— May 16— Keemun ,382

664
4
:iS2

...

SO.COI

particulars of the foregoing shipments for the week,
arranged in our usual form, arc as follows:

shows no improvemt nt, and the exports to Europe
have been small. The trading in corn meal has been
light, with prices st' ady.
Rye flour has been somewhat
firmer with the trading (luiet.
Wheat fluctutited witiiin narrowflimits till late in the week^
when reports of damage to the crop in the Southwest by hot
(

ign trade

of late

——

—
—

.

,

.

.

.

THE CHRONICLE.

1106

winds, drought and rust, the firmness of cash markets both
at the Southwest and at the Northwest, and rai)idly decreasing receipts and suppUes, caused an advance. Cash wlic^at
has not been plentiful anywhere, and tliis fact has had no
small influence. Yet at one time prices were inclined to sag
a little owing to large world's shipments, especially from
Russia, reports of beneficial rains over a portion of thf- Southwest, the absence of export business and rumors that the
May deal had been settled. On declines, however, the loading bulls have come to the support of the market, and it is
worthy of note that the stock at Minneapolis has during the
Moreover, the
present week fallen off 1,450,000 bushels.
arrivals at the big distributing markets of the West have
been diminishing at a rate which has caused the .shorts no
little alarm. To-day prices eased off a little for a time, owing
to reports of rains in Kansas and Illinois, but rallied later
when it appeared that the rains were within a comparatively
circumscribed area, whereupon bulls gave support and shorts
covered. The absence of export business is regretted by
many, but it remains a fact b( yond question that suj^plies
are disappearing rapidly, and it would appear that this is
principally the result of a very large domestic consumption.
The new^ export business is small, but the deliveries on old
export contracts are pretty liberal.

DAILY CLOSING PRICES OFiWHEAT FUTURES IN NEW YORK.
Sat.

No. 2 red winter

Mon.

Tues.

93

9.3

93
S9]4

90^

90
May delivery in elevator
87^
Julv delivery in elevator
Septemberdelivery in elevator.- 84 J^

87iJ^

Sat.

Mon.

Tues.

83^

823^
80}^
78 M

80%
84M

Wed.
93

90
8714

Thtirs.

Fri.

93
91
89

94
90J^

88^

855^^
84^
84M
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
-•

May

83

delivery in elevator
July delivery in elevator
80 Ji
September delivery in elevator.. 79}^

81

79

M

86i/g

Wed. Thurs.
83 J^
8134
79

84^
83

M 80K

Indian corn futures have advanced, owing to the strength
of the cash situation, rapidly decreasing stocks, covering by
nervous shorts, more or less support from leading bull interests, light offerings and the strength of the wheat market.
The receipts continue small in spite of the repeated predicCountry shippers have been
tions of a large movement.
buying more freely from the farmers, but they haA^e not
forwarded the corn to market. There have been complaints
of late of insufficient moisture over wide areas of the corn
The cash demand has been quiet as a rule, the export
belt.

[Vol. lxxxii.

tlie eastward, and generally throughout
the central valleys and Soulliern .States, the greater part of the week
was abnormally cool. Killing frosts were general from the 8th to the
lull tlnougliout the central vallevs and Atlantic coast <iistricts, and
light frosts occurred as far south as the interior portions of the Central
and East Gulf States. The week was much drier than usual, Ijeing practically rainliss in the Central and West Gulf States, Tennessee, and in
portions of the .Middle .\tlantic States, lower Ohio and Central Mississippi
valley.s, in all of which districts rain is now needed.

but in the noitliern districts to

EXPORTS OF BREADSTUFFS, PROVISIONS, COTTON AND PETROLEU.M.— The exports of these articles
during the month of April, and the ten months, for the past
three years have been as follows:
Exports
Irom
United Slates.]

1903-04.

1904-05.

1905-06.

I

April.

Quantities.
Wheat.. bush.
Flour. ..bbls.

49,431
738,969

2.332.315 32.115,346
1,031,047 11,744.293

April.

10 Months.^

April.

Months.

10

10

Months.

724.646 42.650,864
945,943 15.399.298

4.258.866
7,283,530

AVheatabush. 6 972 026 84.964,664 3.374.791 37.034.751 4.981,389 111.947,705

Corn. ..bush. 8.911,901109.740.87112.240.201 77,657.776 3.128.316 52.494,683
Total bush. 15i8i3.927il94/705,535 15,614.992 114,692,5271 8,109,705 164,442,388
c

c

Values.

S

'Si

S

S

^Vheat& flour 6 125 749 76,490,414 3,377, 20o' 37,063.248' 4,713,091 96.594,693
Corn & meal. 4 809 626 58.915,742: 6,671,857, 42,008,943 1,741.300 29,711.106
440,957
1,124
.:
Rye
694.871
113,409
2..320.421;
119,223;
785,281
472.882
Oats & meal. 1,661339 15,415,175
401,111
5,927,787
Barley
299.625
5,116,730
438 006
7 901,546
Breadstuffs .. 13 14s7789 159,417,74S 10,821,564 86,510,466 6,974.725 133,459.824
Provisions 6
20 194 S23 194 40," 066 17,619,161 160,463,914 15,816,464 169,239.465
Cotton
31,'7Sl'455 365. 723, 611 23, 928,794 329, 359, 686 22,706, 51 1351, 753, 997
Petroleum,&c 6,791,705 67,369,645 6,765,649 64,763,285 7,432,319, 04,308 ,555

Total value71 910 772 786,918,07059,135,168 641,097,35152,930,019718,761,841

Fri.

82 H

.

I

I
\

\

6 Including cattle, sheep

a Includina flour reduced to bushels.

and hogs

In all

montlis and years.

The aggregate exports from the United States of wheat
and wheat flour, expressed in bushels, for the nine months
from July 1 to April 30 inclusive, have been as follows for
four years:

WHEAT EXPORTS FROM JULY

1

TO APRIL

30.

1905-00.
32,115,346
52,849,318

Total bushels

1903-04.
42,650,864
69,296,841

100,333,905
74,116,561

..84,964,664

Wheat, bushels
Flour, reduced to bushels

1904-05.
4,258,866
32,775,885

37,034,751

111,947,705

174,450,466

1902-03.

market as indicated in the
trade is sluggish, the clearances for Europe have been light, statements below are prepared by us from figures collected by
and larger receipts are expected, but in view of the light offer- the New York Produce Exchange. The receipts at Western
ings and stocks of contract grade, the shorts have covered lake and river ports for the week ending last Saturday and
freely.
To-day the market declined on large Argentina since Aug. 1, for each of the last three years, have been:
shipments and liquidation.

The movement

—

Receipts at

DAILY CLOSINGPRICES OF NO.

2

Sat.

Cash corn
delivery in elevator

Mon.

53^

May

September delivery

Tues.

56

56
561^

July delivery in elevator

MIXED CORN
56
56

5&H

M

53

DAILY CLOSING PRICES OF OATS IN
Sat.

Mon.

NEW YORK.

Wed. Thurs.

54M
54^

Wed. Thurs.

Fri.

54%

M 54 "^
NEW YORK.

Tues.

Fri

57^

57
57Vi
543^
54 J^

56}^
56J4

53%

53J^
53

in elevator.. 53}^

IN

56V8

of breadstuffs to

Wheal.

Flour.

ms.l96Ws. bush. GO
Chicaao
Milwaukee..
Duluth
Minneapolis.
Toledo

146,401
03,000
118,000

Detroit. ...
Cleveland...

7,i65
1,264
42.915
30,450

at. Loiiis

Peoria

lbs.

Corn.
bush. 66

Kansas City.

bush. 32 lbs. bush.4Slbs. bu. 56 lbs.

674,400
61,750

76,000
125,840
263,160
563,970
23,000
875
22,280
179,021
8,100
181,000

Rye.

Barley.

Oats.
lbs.

1,506,210
95,200
91.187
182,930
88,000
36,700
157,087
569,700
460,500
456,000

48.290
81.000
52.000
39,774
908,810
233,200
316,000

167,411
147,400
16,359
59,350

27,000
16.000
5.623
6.840
2.000

62,000
15,000
27,000

4.009
10.800

_

37
37
37
37H S7H
494,520
72.272
3.643,514
Tot.wk.'OO
1,443,246
2,415,224
409,130
38
38
37M 37M 38
1.685.189
734.720
41,047
915,621
Same wk. '05
248.784
834,277
467.710
1,7.35,117
70,685
1,921.762
231,690
1,001,519
Oats for future delivery in the Western market have ad- Same wk. '04
1905-06... 16,128.070 200,723,083 147.9S0.794 188,219,495 70,341,761 7,179,340
vanced, owing to rapidly decreasing stocks, a good cash de1904-05... 13.691.565 184,197,473 151.860.500 133,750,796 60,141,812 6,195,298
mand, light receipts, less favorable crop reports, small oflfer1903-04... 16.128,624 198,316.503 137.104,747 134,733,692 60,864,759 7,072,067
ings, buying by commission houses, the advance in wheat
and corn, covering of shorts and support from leading bull
Total receipts of flour and grain at the seaboard ports for
Rain is said to be badly needed in important
interests.
the week ended May 12 1906 follow:
States.
The bull leader at Chicago is said to have disposed

No. 2 mixed
No. 2 wliite clipped

37

37M

Flour,

of his holdings of cash oats.
Cash prices have advanced.
Receipts at —
To-day prices declined on reports of beneficial rains, liqui- New York
Boston
dation and reactions in wheat and corn.
Portland

bbls.

136,846
40,360

_

80',925
52,2.50

Philadelphia

DAILY CLOSING PRICES OF NO.

MIXEDIOATS IN CHICAGO.

2

Sat.

May

Tues.

32J^

delivery in elevator

Mon.

33^

33^

32

32

29 J^

29M

31^

July delivery in elevator

September delivery in elevator. . 29 >^

The following

Wed. Thurs.
33H 34

32^
30H

Fri.

3-^H

33^
Z2H

31 Ji

30Ji

Low

grades
clears

Clears
Straights
Patent, spring

Patent, winter
Kansas patents

f3 00(r»)$3 35 Kansas straights
2 60 1« 2 70 Kansas clears
3 fiOfe 375 Blended patents
3 80® 3 85 Rye Hour
4 10® 4 30 Buckwheat flour
4 60® 4 75 Graham flour
4 00® 4 15 Cornmeal

c.

§3
3
4
3
3
2

75@S4 00
25® 3 50

75®
45®

5 10
4 20

Nominal.
10((< 3 50
70® 2 SO

f
f

.b.
.b.

New Orleans. o
Galveston
Montreal
Mobile

34;446
368,894
176,661

91

—

.

—

f.o.b.
f.o.b.
f.o.b.

H
H

57
57
573^
58

Receipts o]

—

61

43

GOVERNMENT WEEKLY WEATHER REPORT.—
Mr. James Berry, Chief of the Climate and Crop Division of
the United States Weather Bureau, made public on Tuesday
the telegraphic reports on the weather in the A'arious States
for the week ending May 14, summarizing them as follows:
In the Rocky Mountain and Pacific coast regions and in the States
of the upper Missouri Valley the week was generally warm and favorable

bush
102.000
42,000

73,601

100,103
33,000

92',660

139^000

9,000
98.043
2,714

35,288

86,973

1,123,390
564,113

79,600
28,000
921,862
2,362,053
454,961

1,397,460
1,025,802

230,973
170,805

bush.

Barley

Rye
gram

Rye,
bush.
9,750
900

150^93

45.764

.

from Jan.

New
1

to

4,680

15,.33

5,269

Orleans for foreign port

May

12 compare

1906.
5,906,502

1905.
3,667,346

1904.
6,973,440

26,745,236
60,510,847
32.109.883
6,521,387
528,422

6,529,470
53,843,916
14.247,995
2,855,555
184,232

15,504,959
26,599,677
15,604,031
1,639,822
491.185

126.415,775

bbls.

Flour

Total

Barley,

Oats,
bush.

794,400
144,786

28S,.S66

14,090

Total receipts at ports
as follows for four years:

77,661,168

59,840.274

110.498,169

several seaboard ports for the week
12 1906 are shown in the annexed statement:

The exports from the
ending

Nominal.

52®57

hush.

a Receipts do not Include grain p.ossing through
on through bills of lading.

VSTieat

92 V^

Corn.

426,315
87,587

1.725

Corn
Oats

Corn, per bush.

Western mixed.
No. 2 mixed
h. 94
No. 2 yellow ..
f
Hard "
f o .b. 923^
No. 2 white
Oats Mixed, bush.
Rye, per bush.
No 3 Western .
No. 2 wliite
.373^
No. 2 mixed
State and Jersey
.373^
No. 2 white, clipped -- -- -- -38
Barley Western .
Feeding
N. Dul., No. 2..
Red winter. No. 2

3.125
4.831
14,380

Week

GRAIN.
Wheat, per bush.
N. Dul., No. 1..

Richmond
Newport News

Total week
1905

are closing quotations:

FLOUR.
Second

Baltimore

Wheal,
bush
075,500
271,801
88,871
03,822
218,199

May

Exports 1rom

—

New York
Portland

Boston
Philadelphia
B.altimore

Wheat,
bush
222,421
88,871
126,163
39,928
60,000

Newport News

New Orleans
Galveston
Montreal
Mobile

Total week
Same time 1905

47,620

495,450
.-

.

Corn,
bush.

Flour,
bbls.

Oals,
bush.

376,353

99,124

76,321
42,857
645,323

8.541
26,491
28,586
4,831
5,194
2,850
18.018

30,000
30,000
65,104

Rye.
bush

276.763

59"426
63,472
177,583
2,714

Barley,
bush
85,543

Peas,
bush.
3.610
8,433

76',777

8,571

259J76

30,857

SO^OSO
742,593
16,385

8,571245,235

45

52^0'4'S

1.725

1,080.453 1,444,043 195,300
.
52,000 1,988,654 81,098

12,086
2,387

May

THE CHRONICLE.

lU 190G.J
of these exports for the
as below:

The destination
July

1905

1

is

W heat-

-Flour12

July 1
1905

obis.

bbls.

May

week and
since July I 10^

Exports

jer

Ignited

Kingdom... 63,366 5,228,721

Continent

So.andCent. Amer.
West Indies

Brit. No. Am. Cols..
Other countries

.

71,408 2.024,652
650,096
14,710
.37,368 1,157.511

50

May

July

1

1905.
bush

12

Week

May

12

803,253 33,493,599
263,580 14,406,186
219,184
13,620
68,893

bush
458.483
892,321
45,111
47,748

409.827

380

bttsh

127,9.58

8,458

Week

263,260

since

-CornSince

Since

Week

week and

Since
July 1
1905.
bush
45,056,825
58,127,384
486,912
1,510,096
113.196
148,830

.195 360 9.452,198 1,080,453 48,597.689 1.444.043 106043,246
52,000 11098,357 1,988.654 76.146.448
81.098 5,650,551

Total
Total 1904-05

The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
seaboard ports May 12 1906 was as follows:
Wheat,

Corn

bush.

bush.

391,000

NewYork

172.000

Boston

Toronto
Buflalo
afloat

Toledo

219.000
afloat

134.000

Detroit
afloat

Chicago

2.810.000
afloat

Milwaukee

285.000

afloat

Fort William
Port Arthur...

disappointing, and it is realized that business in these is
likely to be considerably restricted, lowing to the mildness of
the past winter and the consequent accumulation of goods.
Cancellations continue to be received and these of late have
been particularly heavy in the herring-bone fabrics. There
has been a continued good demand for dress goods, but
Broadagents are turning their attention to the new season.
cloths still hold the premier position, and duplicate orders
for these have been of fair volume.
There is a disposition
among buyers now to look for a medium shade of blue, not so
dark as the usual run of navy blues and not so light as the
Alice blue.
Plain colored goods of a sheer character generally continue in favor.

2.303.000
1.482,000
5,656,000

Duluth
afloat

Minneapolis..
St. Louis
"

15,953.000
1.350.000

On

,

..afloat

Kansas City
Peoria..
Indianapolis.

655.000
3.000
85,000

Mississippi River

OnLakes

1,807.000

72.000
On Canal and River...
Total May 12 1906.. 35.936.000
Total Mav 5 1906. .38,431,000
Total M.ay 13 1905.. 24. 170.000
Total May 14 1904-.2S.038.000
Total May 16 1903. .30.655.000

THE DRY GOODS TRADE.
New York, Friday Night, May 18 1906.
Seasonable dulness has prevailed in the cotton goods market during the past week, the number of forward orders having been small, but a fair day-to-day trade has been transSpring business is practically over, but as the stocks
acted.
of both mills and jobbers are exceptionally small the situation
is healthy and the market is firmer than it was a week ago.
Some fairly large buyers have been in the market picking up
goods that are needed for immediate requirements, and for
The continued
these they have had to pay full prices.
advance in the price of the raw material is causing some uneasiness among manufacturers, but the good demand for
cotton from spinners at current prices i^ taken as an evidence
of their faith in the future activity of the goods market.
In certain lines fall buying is about to commence, and a
larger movement is e-xpected in the market in the near
future.
Export business is practically at a standstill, and
this is enabling Southern mills to manufacture for the home
Business
trade, thereby increasing the available supply.
generally during the past few months has been in excess of
that of last year, which, in view of the large falling off in the
export demand this year compared with last, shows clearly
the great increase in domestic consumption. The woolen
and worsted goods market has been more active, fair duplicate orders for men's wear having been received and a continued good trade in fall dress goods being noted.

13 Tj

DOMESTIC COTTON GOODS.— The exports of cotton
goods from this port for the week ending May 14 were
1,878 packages, valued at $131,757, their destination being
to the points specified in the table below:
1906
Since

New York

to

May

Great Britain
Other European

14.

Week.
18
11

China
6

296
45

Indies

Mexico
Central Atnerica

South America
Other countries

231
1,016
.

2.55

FOREIGN DRY GOODS.— Importers of woolen and
worsted dress goods are showing plaid broadcloths and striped
and checked suitings with a broadcloth finish. The demand
for these has been unusually good.
Silks are more active in
the better ciualities.
Ribbons are steady and in fair demand.
Linens are unsettled, owing to conditions abroad, and many
complaints are heard of slow deliveries. Burlaps maintain
their strength.

Importations and Warehouse >Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending May 17 1906 and since
Jan. 1 1906, and for the corresponding periods of last years
are as follows:

2
M>T]000<1 H

1

2,210

826

39
520

o
"-to-

1.878

N3

^

00
'P

12,744

,'

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,

I

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126,559

but business has not been heavy; the only shading that is reFourported is in goods of coarse count or inferior quality.
yard sheetings have been in moderate demand and prices
have ruled very steady. The buying of bleached goods has
been unexpectedly heavy, and has been at full asking prices,
many having found it necessary to purcha.se goods to fill
immediate needs. Forward buying is expected to commence
again shortly, and some orders for June delivery have been
placed during the week.
Low-grad(! tickings are very
scarce, and denims and other coarse ,colored cotton goods

CA

'

*>.to

to*.

22,166
7,636

115.356

O
c

c'
"

a.

es IS 00 30M
H- 4^ C3
CO

tow

10,909

of these New York exports since Jan. 1 has been
$6,512,227 in 1906, against $6,695,0.39 in 1905.
Heavy brown drills and sheetings are decidedly firmer,

SI

00

3 ,84

The value

p

3
3
3

H

l—'t'

Total

o

re

6,<tS2

956
797

5,895
21,552
5,895

-"S

?r

'

S

—

32?^
O ^
j,-X o

S
^
rD^p

2

3

g
o
3

8,928

314
595

—so *^

<D

7,2:i9

13,827
3,571
8,460

^

§^^

1905Since
Jan. 1
Week.
470
18
241
3
57,183
7,301

3 ,758

Arabia

West

Jan. I.
529
614
.50,429

India
Africa

demands for fall, particularly for dark-colored goods,
cannot be filled. This is due to the fact that manufacturers
were so busy filling spring orders that they have had to negThere has been no change
lect the fall end of the market.
in print cloths, regulars being still quoted at 35^c.
The
market has been dull but firm.
the

—

48.000
38.000
343.000
155.000
133.000
619.000
39.000
1,356,000

Philadelphia
Baltimore-.
New Orleans
Galveston
Montreal

moving with a fair amount of freedom. Most buyers
have covered their denim requirements to the end of September, and standard grades are now expected to rule higher.
Linings are firm, and the duplicate bu.siness in napped goods
has been satisfactory. There has been some little accumulation of prints, but the buying season is about due and a
good business is anticipated. Dress prints have been
quietly offered for spring at considerably higher prices than
last year, and some good orders have already been reported.
Spring ginghams have also been opened above last year, and
are

WOOLEN GOODS. Duplicate orders for men's wear
heavy-weight woolen and worsted goods are being received
in fair volume, but while some manufacturers have had, in
consequence, to withdraw their lines from sale, others have
not received their fair share of the business. A notable
feature of the re-ordering is the improved demand for woolThis has so far applied more particularly to the lower
ens.
grades of goods, but many see in it a decided indication that
woolens are going to regain their old-time popularity.
Grays still predominate in the duplicate business, as they did
The re-ordering of overcoatings is
in the initial buying.

afloat

'

1167

t?J

--a

I

b>l

-^J

-.-I

fj^

<>•

..J

'-)

"to "to
4..

I

.**

—

:

THE CHRONICLE.

1168

State

City Jitf/i^wtnr.
News

—

Items.

—

any county to

fi4 avithorizing
repair brldires.

^

Issue

3250,000 bonds to construct and

an ultimate raaxtmiim tax rate in all taxing districts in
the State of S17 50 tor each SI. 000 of assessed valuations tor county, school
district and local purposes.
TheAct provides that the tax rate tor 1900 must
not ex,ceed tliat levied in 1905 and must l)e reduced at least SI 00 per SI. 000
each year after 1900 it the rate is over S20 00 per $1000 and 50 cents yearly
If underSJO 00. until a r.ate of $17 50 lie readied, which is to he the maximum
rate thereafter.
In the cases of counti<'S the 1900 rate must not exceed the
1905 rate and a 50-cent reduction yearly is provided for until the rate reaches
the limit of S5 00 per $1,000 of assessed valuation. This limitation does not
apply to the tax rate required to raise any State tax or .Slate school tax or to
pay judgments, all of which may be in addition to the limited rate fixed in the

Chapter 110 provides

for

Act.
Cliapter ISl, relating to the issuance of parli bonds.
Chapter 195, an Act concerning ^savings banks and saving bank investments.
The investment feature of this law was published in full on page 1114 of last

week's "Chronicle."

s

For additional measures passed by the Legislature see

V

—

Belpre School District, Washington County, Ohio. Bond
Proposals will be received until 12 m., June 16,
by J. V. Athey, Clerk of Board, for $11,000 4% building and
improvement bonds. Authoritj-, Sections 3991 and 3992 of
the Revised Statutes.
Denomination $.500. Date June 16
1906.
Interest March 15 and Sept. 15 at the office of the
clerk or at a bank to be agreed upon by the purchaser and
the Board.
Maturit}' $500 each .six months from March 15
1916 to Sept. 15 1926 inclu.sive. Certified check for $300 is
r(!quired.
Advertisement states that there is no controversy threatened or pending, and that the district ha.s never
Accrued interest to be
defaulted on principal or interest.
paid by purchaser, who will also be required to furnish
bonds.

—

Benton County School District No. 16,^Wash.

— An

$12,000 Morris Bros ., Portland

United States

Calls
of

Mexico.

—Bonds

Drawn.

— On

are at

May

15

4% Series "A" gold bonds of $1,000 each and
4% Series "B" goldjbonds of $500 each were drawn for

12,250lWm. D.
.-

12.1201

Perkin.s

&

Co., Seattle.. 12,050

x^j

— Description

—

Further details
of Bonds.
1-1,5-year (serial)
to the $75,000
school-building bonds awarded, as stated in V. 82, p. 1114,
The award was
to Estabrook & Co. of Boston at 101'78.
Beverly, Mass.

and Redemptions.

was
De-

$12,087

1

Roberts Bros., Spokane
.John E. Price, Seattle..

Bond

— Bond Sale.

4%

1-20-year (optional) bonds
issue of $12,000
awarded on May 5 to the State of Washington at par.
nomination $1,000. Following are the bids:

state of Washington

82, p. 882.

$98,000
$37,000

Attica, Ohio.— Bonri Sale.— On May 14 the $2,000
IS-ycar couixin electric-light bond described in V. 82, p.
1114, was (lisj)ose(l of at pur and accrued interest.
Offering.

Jersey. Lmvs of 1906.
Among the Acts of the 1906
Legishiture which rcccntlj'^ became laws ))y the signature of
the Governor maj' be mentioned the following:
Chapter

[TOL>. L.YXYTI.

4%

mn

New

f]

•

hand

made on May
Interest

4%

relative

Denomination $1,000.

8.

Date Ma}'

May and November.

1

1906.

—

Co. of New York
Birdwood Irrigation District, Lincoln County, Neb.
The official notice Bond Offering. Proposals will be received until May 28 by
of this bond call giving numbers of bonds drawn will be S. F. Dikeman, Chairman (P. O. Hershey), for $20,000
6% improvement bonds. Authority Article 3, Chapter 93-a,
found among the advertisements elsewhere.
Compiled Statutes of 1905. Denomination $200. Date

payment June

1

at the office of Speyer

&

—

Securities are dated Oct. 31 1904.

City.

May

Bond Proposals and

Negotiations

this

week

bare been as follows
Acquackanonk Township School District, Passaic County,
N. J. Bond Offering. Proposals wiU be received until 8
p.m. May 29 by E. J. Nelson, District Clerk (P. O. Clifton),

—

—

for the following bonds:

4%

coupon school-building bonds. Denominations: 20 bonds of $1,000
each and one bond for $500. Maturity SI, 000 yearly from 1918 to 1944
inclusive and $500 in 1945.
12,500 4% coupon school-building bonds. Denominations: 12 bonds of $1,000
each and one bond for $500. Maturity $1,000 yearly from 1918 to 1929
inclusive and $500 in 1930.
3,500 4% coupon school-building bonds. Denominations: 3 bonds of $1,000
each and one bond for $500. Maturity yearly from 1917 to 1919 inclusive and 8500 in 1920.

$27,500

Authority Act of Legislature approved Oct. 19 1903 and
March 20 (see V. 82, p. 710). Bonds are dated
June 1 1906. Certified check on a national bank for 1% of
the amount bid, payable to the District Clerk, is required.
Purchaser to pay acDelivery on or before July 1 1906.
crued interest. Bonded debt, including this issue, $72,500.
Valuation for 1905, $2,172,775.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
election held

—

—

Adams County (P. O. Decatur), Ind. Bond Offering.
This county is offering for sale May 21 $8,200, $3,060 and
$3, .500 43^'% coupon macadam road bonds.
Alma, Gratiot County, Mich. Bond Offering. Proposals
will be received until 7 p. 111., May 29, by D. W. Adams, City
Clerk, for $15,000 5% coupon water-works-extension bonds.
Denomination $1,000. Date June 1 1906. Interest Jan. 1
and July 1 at the Alma State Savings Bank in Alma. Maurity $2,000 yearly from July 1 1911 to July 1 1917 inclusive and $1,000 July 1 1918.
Certified check for $500, payable to the City Treasurer, is required.
Bonded debt, not
including this issue, $14,000.
Assessed valuation for 1905,
$1,680,330.
Alma School District No. 16, Wabaunsee'County, Kan.
Bond Sale. We are advised that the $11,000 high-schoolbuilding bonds mentioned in V. 82, p. 945, have been sold
to the State School Fund Commission of Kansas.
Amarillo,
Potter County, Texas. Bond Sale. The
$10,000 5% engine-house bonds mentioned in V. 82, p.
824, have been awarded to Farson, Son & Co. of Chicago at
101.75.
Denomination $1,000. Date Dec. 1 1905. InterMaturity forty years, subject to
est June and December.

—

—

—

—

—

—

call after ten years.

Armour Independent School

District, Douglas County,
Proposals will be received until
Offering.
bonds.
7:30 p. m.. May 21, for $17,000
Bids are requested based on bonds maturing in twenty years and on
bonds maturing $3,000 in ten years, $7,000 in fifteen years
and $7,000 in twenty years. Denomination $1,000. Date
July 1 1906. Interest semi-annual. C.J. Klahn is Clerk]of
Board of Education.
S.

D.

—Bond

—

5%

—

Aspinwall School District, Allegheny County, Pa. Bond
Sale.—\We are informed that the $15,000 4>^% coupon
bonds "Series F" described in V. 82, p. 945, were sold on
April 27.
The name of the successful bidder is withheld in
accordance with a resolution of the School Board.

1

1906.

Interest semi-annual.

f^iii

—

—

Blakely (Borough), P. O. Olyphant, Pa. Bond Sale.
On May 7 the $8,000 5% coupon electric-light-plant bonds
described in V. 82, p. 883, were awarded to S. A. Kean of
Chicago at 105.25. We are advised by the purchaser,
Bonds
however, that the sale has not yet been concluded.
mature Feb. 1 1915.

—

—

Boston, Mass. Temporary Loan. Local papers state
that a loan of $1 ,000,000 in anticipation of taxes w^as recently
negotiated with the National Shawmut Bank of Boston at

4%.

—

—

Boyd, Chippewa County, Wis. Bond Sale. On May 7
$3,000 5% Avater- works improvement bonds were awarded
There w'ere no other
to Albert Butscher of Boyd at par.
Denomination $300. Date May 1 1906. Interest
bidders.
Maturity May 1 1916.
annual.
Brockton, Mass. Bond Sale. We are informed that the
$25,000 3J^% 30-year water bonds were awarded to the
Wildey Savings Bank on April 15 at par. Securities are
dated April 1 1906.

—

—

—

—

Bond Offering.
Bronxville, Westchester County, N, Y.
Proposals will be received until 8 p. m. May 24 bj- the Village
Clerk for the following bonds at not exceeding 5% interest:

Maturity S2,000 yearly on June 15 trom
S8 000 registered sewer-extension bonds
1911 to 1914, inclusive.
6,000 registered street-improvement bonds. Maturity $2,000 yearly on June 15
from 1911 to 1913, inclusive.
10,000 registered villaac-hall bonds. Maturity $1,000 yearly on June 15 from 1911
to 1920, inclusive.

Denomination '$1,000.

Date

June

15

1906.

Interest

semi-annually at the Farmers' Loan & Trust Co. in New
York City. Certified check on a State or national bank for
$500, payable to Jacob Egbert, Village Treasurer, is required.
Bonded debt, not inPurchaser to pay accrued interest.
Assessed valuation for 1905,
cluding this issue, $50,000.
$1,400,000.
Proposals will be reBurlington, Vt. Bond Offering.
ceived until 10 a. m. June 15 by L. C. Grant, City Treasurer,
for the following bonds:

—

4%
4%

coupon or registered refunding water bonds, dated July 1 1906. Denomin.ation $1,000. Maturity twenty years.
coupon or register >d electric-light bonds, dated July 1 1906. Denominaton $1,000. Maturity thirty years.
32,000 S14% registered school bonds, dated May 1 1901. Maturity May 1 1921.

$100,000
39,000

Interest semi-annually at the office of the City Treasurer.

Cabell County (P. O. Huntington), W. Ya..— Bond OfferProposals will be received until 12 m. May 22 by
ing.
F. F. McCullough, Clerk of the County Court, for $120,000
4J^% coupon bridge and court-house bonds. Authority
Denominavote 1,514 to 874 at election held Oct. 3 1905.
Interest annually at the LTnion Savings Bank
tion $1,000.
& Trust Co. of Cincinnati. Maturity 30 years, subject to
call after 20 years, provision being made, however, for the
redemption of not exceeding $6,000 of said bonds yearly by
premium. Certified check for $1,000,
the payment of
payable to the County Court, is required. We presume that
these are the same bonds awarded on Jan. 15 to the Union
Savings Bank & Trust Co. of Cincinnati, as stated in V. 82,
p. 174, but we are not informed as to the reason this sale

—

2%

was never consummated.

—

—

On May 12 the
Caldwell, jNoble County, Ohio. Bond Sale.
$4,000 4% coupon water- works-extension bonds, described
in V. 82, p. 999, were awarded to the Brighton-German Bank
Co. of Cincinnati at 100.937 and accrued interest. The bids
were as follows:

•

May

THE CHRONICLE.

19 1906.1
ISecurlty Savings

Brighton-Gprman Bank Co.,

Todd &

a

And

Co

a$4,037 50

Cincinnati
\V. R.

Bank & Trust

Toledo

'

a$4.020 00
a 4,002 00

Co., Cincinnati. ai:022 00 IS. A. Kean, Chicago

Interest.

Canton, Ohio. — Bids. — Following are the bids received on

May

7 for the $32,425 1-5-year (serial) street-improvement
(6 issues) and the $11,900 5-year refunding bonds (.3
issues) awarded, as stated in V. 82, p. 1115, to the Dime Savings Bank Co. of Canton at 100.477 and accrued interest for
4 per cents:

bonds

Dime

Savs. Rk.

1,000 4i^.s.

f

I

Co.. Canton.. $44, 32.5 4.S-.-$44.536 871
A. LlchotJ 32,425 5s-.. par.
\ 11,900 43^5. par.
1,,son 4s-.1.820 001
J. P. Fawcett,!
|Denison&
aaent
\ 15,000 3.S0S par.
Farnsworth,
New First Nat.
Cleveland .
Bank.Colum.. 44,325 4}^s. 45,337 90

I

Loui.s

\

|

.

Haydcn, Miller
&Co., Cleve.. 44,325 5s... 45,237 501

I

I

I

50
00
00
00
1.006 50

3,400 4'2S.
3,200 4Ws.
3 100 4s...
1,800 4s-.1,800 4'^s.
7.000 4s--.
7,000 4'
3.100 4'2S.

3.424 50
3,223 50
3,102 10
1,801 25
1.843 50
7.007 10
168 70
3,175 00

.$4,000 4V5s. S4,031
825 4^3.
1,000
20,000 4s... 20,021
20,000 4 V.'.s. 20,271

—

4%

1169

coupon school-building bonds. Denominations
Date June 1 1906. Interest June and

gold

$100 and $250.

at the office of the Treasurer in Du Boistown.
1
1936, subject to call after June 1 1911.
are exempt from all taxes.
Bonded debt, this issue.

December

Maturity June

Bonds

—

—

Duluth, Minn. Bond Offering. Proposals will be received until 7:30 p. m.. May 28, by H. W. Cheadle, City
Clerk, for $375,000 4% water and light plant extension
bonds. Authority, Section 286 of the City Charter.
Bonds
Maturity April 1 1936. Cerwill be dated April 1 1906.
tified check on a national bank for 1% of the bonds bid for
Official advertisement states that there is no
is required.
controvers}^ or litigation pending or threatened affecting
the corporate existence or boundaries of the city, and that
there has never been a default in payment of bonds or interest.

Edinburg, Shenandoah County, Va.

—Bond

Offering.

—

Proposals will be received until 8 p. m. June 7 by Geo. E.
Irvin, Chairman Finance Committee, for the $20,000 4%,
20-30-year (optional) registered water-works bonds voted on
Denomination $500. Date July 1 1906. InterApril 26.
est semi-annually at the Farmers' Bank of Edinburg.
Certified check for $50, payable to the Chairman Finance
No bonded debt at present.
Committee, is required.

Carthage High School District, Jefferson County, N. Y.
Offering. -Proposals were asked for until 8 p. m.
3'esterday (May 18) by A. B. Carter, Clerk Board of EducaAuthority, Section 10,
tion, for $28,000 high-school bonds.
Title 8, Consolidated School Law of New York, and vote of
77 to 45 at election held June 9 1905. Denomination $500.
Emporia, Va. Bonds Not Sold. No sale was made on
Date July 1 1906. Interest payable at the Carthage National
Bank in Carthage. Maturity on Jan. 1 as follows: $1,500 May 3 of the $5,000 5% 30-year gold^water, sewer and street
yearly from 1912 to 1918 inclusive. $2,000 yearly from 1919 improvement bonds described in V. 82, p. 1000.
to 1923 inclusive and $2,500 yearly from 1924 to 1926 inEnterprise Irrigation District, Fremont County, Idaho.
The district has no bonded debt at present. Bonds Not Sold. No bids were received on May 7 for
clusive.
At the hour of $55,000 6% coupon bonds of this district offered on that day.
Assessed valuation for 1904, $1,268,272,
going to press the result of this offering was not known.
These bonds, we are informed, are now being offered at
Centralia School District No. 9, Lewis County, Wash.
private sale.
Bond Sale.— On May 5 the $15,000 12-16-year (serial) gold
The folFindlay, Hancock][County, Ohio. Bond Sale.
coupon school-building bonds described in V. 82, p. 1061, lowing bonds were awarded to Lamprecht Bros. & Co. of
were awarded to MacDonald, McCoy & Co. of Chicago for Cleveland on April 28:
$15,610 and accrued interest for 5s. Other bidders were $19,000 4% Tiffln Avenue paving bonds. Price $19,082 and accrued interest.
Denomination $500. Date March 1 1906. Maturity $1,000 every six
Morris Bros, of Portland, $15,157 and accrued interest for
months from .A.ug. 1907 to Aug. 1 1916 inclusive.
and John E. Price of Seattle, $15,150 and accrued 16,600 5%TLlma Avenue paving bonds. Price $17,558 and accrued interest.
5J^s,

—

Bond

—

—

—

—

—

—

—

1

interest for 6s.

—

—

The
Charlevoix, Charlevoix County, Mich. Bond Sale.
bids received on May 9 for the $16,000 43^% 20-year coupon
electric-light-improvement bonds described in V. 82, p. 946,
were as follows:
W. E. Moss & Co., Detroit
H. W. Noble & Co.. Detroit

$16 275IE.H. Rollins

Denominations $500, except one bond for $600. Date April 1 1906
Maturity $600 Oct, 1 1906. $500 April 1 and $1,000 Oct. 1 each year
from 1907 to 1914 inclusive, and $1,000 every six months from April 1

1915 to Oct, 1 1916 inclusive.
9,1 2014 %3Center Street paving bonds.

Price $9,175 and accrued interest.
Denominations $500. except one bond for $120. Date Jan. 1 1906.
Maturity $120 July 1 1907 and $500 each six months from Jan. 1 190S

7 680

&

6,000

4%

to July 1 1916,
Shinkle Street paving bonds. Price $8,151 and accrued interest.
Denominations $500, except one bond for $680. Date .\pril 1 1906.
Maturity $6S0 April 1 1907, $500 yearly on April 1 from 1908 to 19H
inclusive and $500 each six months from April 1 1912 to Oct. 1 1916

5%

Sons, ChicagO---$16.100
16.205 Emery, Anderson & Co., Cleve-.. 16.000
CharlevoixSavs.Bk.. Charlevoix. 16 1871
1

Cheswick (Borough), Pa.
Burgess,

is

—BondOffering. — H. C. McGraw,

offering for sale $5,000

4%

first

inclusive.

mortgage im-

provement bonds. Date April 10 1906. Interest semiannually at office of Borough Treasurer. Maturity $1,000
on April 10 of each of the years 1912, 1917, 1921, 1924 and
1926.

—

—

Cincinnati School District, Ohio. Bonds Not Sold.
No
bids were received on May 14 for the $200,000 3J^% 40-ycar
coupon bonds described in V. 82, p. 946.

—

Claiborne County (P. O. Tazewell), Tenn. Bond Offering.
will be received until May 28 for $75,000 43^%
coupon road bonds. Authority, Chapter 394, Acts of 1901.
Denomination $500. Interest semi-annually. Maturity
thirty years.
Assessed valuation for 1905, $1,730,380. P.
G. Fulkerson is Chairman Board of Road Commissioners.
Cook County School District No. 99, lll.—Bond Sale.—
On May 10 $12,000 43^% school-building bonds were awarded
to Rudolph Kleybolte & Co. of Cincinnati.
Securities are
dated May 1 1906. Interest semi-annual. Maturity $1 .000
yearly from May 1 1909 to May 1 1918 inclusive and $2,000
May 1 1919.
Crookston, Minn.— fiond Sale.
May 8 the $15,000 5%
20-ycar coupon fire-engine-house bonds, described in V. 82,
p. 1000, were awarded to U. M. Stoddard & Co. of Minneapolis at 107.333, accrued interest and blank bonds.
Following are the bids:

— Proposals

—On

U. M.Stoddard &Co.. Minne. 516,100 :00 IS. A. Kean, Chicago
$15,525 00
16,080 00 Trowbridse & Ni ver Co Chic. 15.500 00
15,761 75| Browne-Ellinwood Co., Chica. 15,467 00
.

MacDonald, McCoy <tCo ..Chic.
Otis & Hough, Cleveland
Deni.son & Farnsworth, Cleve.
John Nuvpcn & Co.. Chicaeo-.
Mason, Lewis & Co., Chicago..
Jno. P. OBrien & Co., Boston
a Bids received May

9, after

.,

;

15,761
15.750
15.712
15,575

00 R. II Rollins & Sons, Chicago. h15, 393
OOjC. H. ("otfln Chicago
15 326
50 ,Th(>.s. J. Bolger & Co., Chicago 151300
00|.\. W. Harris & Co., Chicago. -al5,041
.

i

73

00
00
00

award.

De Kalb County (P. O. Auburn), Ind.— Bond Sale.— On
May 14 the $27,000 5% a.sylum lionds described in V. 82,

p. 946, were awarded to the Savings, Loan & Trust Co. of
Auburn at 102.133. Following are the bids:
Savings Loan & Trust C;o., Aub'n. $27, 576 iCity .Vational Bank, Auburn
$27,305
Auburn state Bank, Aub\irn
27,4501 Breed* Harrison, Cincinnati
27,270
W. R. Todd & Co., Cincinnati... 27.3251

Street paving bonds.
Price $6,047 and accrued interest.
Denomination $500. Date Feb. 1 1906. Maturity .$500 yearly on
Aug. 1 from 1907 to 1915iinclusive and $500 yearly on April 1 from

Clinton

1916 to 1918 inclusive.

Interest semi-annual.

Fitchburg, Mass.

— Temporary Loan. —The City Treasurer

recently borrowed $50 ,000 from various parties at an average
.slightly under 43^% discount.
Maturity Oct. 10 1906.

—

—

Bonds Voted. An elecFlorala, Covington County, Ala.
tion held Maj' 7 resulted in favor of a proposition to issue
bonds for water-works, school-building, jail and councilchamber.

—

—

Bond Sale. This city has sold at private
$30,000 43/^% 5-1.5-year (optional) funding bonds to
Denomination $500.
E. H. Rollins & Sons of Denver.
Date Feb. 1 1906. Interest semi-annual.
Franklin County (P. O. Columbus), Ohio. BondOffering.
Proposals will be received until 12 m., June 14, by the
County Commissioners for $3,000 6% Dellinger Free Turnpike road-improvcniient bonds.
Authority, Section 4808
Denominations: $100, $150, $200
of the Revised Statutes.
and $300. Date June 1 1906. Interest semi-annually at
the count}'- treasury.
Maturity on June 1 as follows: $200 in
1907, $300 yearly from 1908 to 1910 inclusive, $400 yearly
from 1911 to 1914 inclusive and $300 in 1915.
Fruita, Mesa County, Col.
Bond Sale. We are advised
that the $85,000 O'/p 10-20-year (optional) water-works
bonds offered but not sold on Feb. 26 (V. 82, p. 825) have
Florence, Colo.

sale

—

—

—

—

been awarded to L. H. Hanley of Seattle, Wash., at par.
Gainesborough, Tenn. Bond Sale. An issue of $6,000 5%
10-20-year (optional) school-house bonds was recently sold to
local citizens.
These are the same securities awarded on
Nov. 1 to Albert Kleybolte & Co. of Cincinnati. We are
advised, however, that they were refused by that firm because the interest was payable annually instead of semi-

—

—

annually.

—

Glasgow School District, Barren County, Ky. Bonds
Voted.
By a vote of 37 to 4, this district on ApriH28 authorDetails
ized the issuance of $30,000 school-building bonds.
of issue and date of sal(> not yet decided.

—

Diana Union Free School District No. 6, Lewis County,
N. Y. Bond Offering. Proposals will be received until
Glen EUyn School District No. 41, Du Page County, III.
1 p. m., June 1, by Frank W. Werner, President Board of
Bond Offering. Proposals will be received until May 22 (to
Education (P. O. Harrisville), for $12,000 school-house be opened at 8 p. m.. May 23) by J. L. Lane, Secretaiy
bonds at not exceeding 4% interest. Denomination $500. School Board, for $9,000 43^% gold school-building l)onds.
Interest payable at the Carthage National Bank in Carthage. Denomination $1,000.
Date June 1 1906. Interest semiMaturity $500 yearly from 1907 to 1930 inclusive.
annual.
Maturity $1,000 yearly beginning in 1909. CerDouglas County School District No. 105, Wash. Bond tified check for 2% of the amount bid, payable to E. H. McSale.
On May 5 $1,150 1-10-year (optional) school-building Chesney, Township Treasurer, is required. Bonded debt,
bonds were awarded to the State of Washington at par for this i.ssue. A,sscssed valuati(m, $190,135.
4^s. Denomination $.500 and $650. Date May 5 1906.
Gloucester, Msiss.— Bond Sale.— An i.ssue of $30,000 4%
Interest annual.
1-30-year (serial) water bonds was recently awarded, it is
stated, to N. W. Harris it Co. of Boston at 102.615.
Du Boistown School District, Lycoming County, Pa.
Bond Offering. Proposals will be received until 7:30 p. m.
Bond Sale. On May 2
Gloversville School District, N. Y.
May 24 by W. S. Car.son, Secretary School Board, for $6,750 $25,000 3J^% 5-10-year high-school-building bonds were

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.

1

THE CHRONICLE.

1170

awarded to the Manufacturers' & Merchants' Bank and the
Fulton County National Bank of Gloversvillc at par.
Denomination SI, 000. Date April 2 1906. Interest semiannual.

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Grangeville, Idaho County, Idaho.
Bond Offering Postponed.
We are informed that the .sale of $30,000 10-20-year
(optional) gold coupon water-works bonds, originally advertised to take place on May 7, has been postponed until June
Authority, Ordinance No. 51, passed Feb. 5 1906.
4.
Denomination $1,000. Interest not to exceed 5%, payable
semi-annually at the office of the City Treasurer or in New

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York

City.

Greece Union Free School District No. 4, Monroe County.
N. Y. Bonds Not Sold. No bids were received on May 15
for the $21,000 3i^% bonds described in V. 82, p. 1062.

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Greene County (P. O. Xenia), Ohk). Bond Offering.
Proposals will be received until 12 m. June 5 by the County
Commissioners for $26,470 coupon bridge-building bonds.
Authority Section 871 of the Revised Statutes. Denomination $500, except one bond for $470.
Date July 1 1906.
Interest semi-annually at the office of the County Treasurer.
Maturity $470 Jan. 1 1909 and $1,000 each six months from
Jan. 1 1910 to July 1 1922 inclusive. Certified check for
$1,000 is required. Purchaser to pay accrued interest.
Greenwich and Easton School District No. 3, Washington
County, N. Y. — Bonds

to be

Offered Shortly.

— We are informed

that an issue of $50,000 4% 1-50-year (serial) school bonds
Authority, election held
will soon be put on the market.
The district has no bonded debt at present.
Sept. 30 1905.
Valuation, $1,092,594.

Hamtramck Township,

Wayne County,

Mich.

—Bond

Sale .—The $40,000 25-year gold highway-construction bonds
described in V. 82, p. 1116, were recently awarded to the
State Savings Bank of Detroit at 101.89 for 4J^ per cents.
Bonds are dated May 15 1906.

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Bond Offering. Prom. May 21 for $8,375 43^%

Hanover, Jackson County, Mich.

.

[Vol. lxxxll

5%

1906.
Certified check for
of bonds bid for payable to
the Village Treasurer, required.

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Lakewood, N. Y. Bond Offering. Proposals will be received until 3 ]). m., .May 25, by Ralph H. .Maxson, Village
Clerk, for the $30,000 water-works bonds offered but not sold
on March 14. Bonds will be Lssued in coupon form or registered, to suit purchaser.
Denomination $1,200. Date
March 1 1906. Interest not to exceed 4%, payable semiannually at the Bank of Jamestown.
Maturity one bond
yearly from March 1 1911 to March 1 1935 inclasive.
Certified check for 3% of the bonds bid for, payable to the Village
Clerk, is required.
No debt at present. Assessed valuation,
$457,773.

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Leesburg, Loudoun County, Va. Bonds Voted. By a
vote of 103 to 23 this town on May 1 authorized the issuance
of $30,000 4% 20-year water-works bonds.

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Leetonia, Columbiana County, Ohio.
Bond Sale. On
15 the $5,500 4% 7-17-year (serial) coupon additionalwater-supply bonds described in V. 82, p. 1116, were awarded
to Lamprecht Bros. & Co. of Cleveland at 100.51 and accrued interest.
A bid of 100.454 was also received from
W. R. Todd & Co. of Cincinnati and a bid of 101.50 from a
local bidder for $1,000 bonds.

May

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Lewiston, Pa. Bonds to Be Issued. We are advised that
borough will issue $40,000 street-paving bonds.

this

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Lockhart, Caldwell County, Tex. Bonds Voted. The elecMay 5 resulted in a vote of 98 to 17 in favor of the $15,000
5% public-school-building bonds mentioned in V. 82, p. 948,
Maturity 40 years, subject to call $1,500 in 5 years, $2,500 in
10 years, $3,000 in 15 years, $3,500 in 20 years and $4,500 in
25 years. These bonds, we are informed, will not be placed
on the market until next year.
tion

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Macon, Ga. Bond Eflection. Local papers state that an
election will be held, probably in August, to vote on the
question of issuing $100,000 paving bonds.

Madison, Wis.— Bond Sale.— On May 11 the $30,000 4%
bonds and $8,625 4J^% water-works bonds. 20-year coupon school-building bonds, described in V. 82,
Denomination $1,000. Date April 1 1906. Interest semi- p. 1063, were awarded to F. L. Fuller & Co. of Cleveland at
annual.
Irving E. Tenney is City Clerk.
101.516.
Following are the bids:
Honesdale, Wayne County, Pa. Bonds Defeated. The F. L. Fuller & Co.,&Cleveland. 530,455 OOlDenison & Farnsworth. Cleve. $30. 117 GO
Eraerv, .Anderson
Co.. Cleve 30,451 00 [First National Bank, Chicago. 30.055 00
proposition to issue the $30,000 4% 1-30-year (serial) street- Seasongood & .Mayer, Cinoin.. 30,326 40|N. W. Harris & Co., Chicago.. 30,000 00
paving bonds, mention of which was made in V. 82, p. 947,
All bidders agreed to pay accrued interest.
was defeated on May 8. The vote was 170 for to 214 against.
Mansfield, Richland County, Ohio. Bond Offering.
ProHuntington, W. Y&.—Bond Sale.— On May 16 the $55,000 posals will be received until 12 m. May 26 by D. S. Koontz,
20-30-year (optional) gold coupon paving bonds and the City Auditor, for the following bonds:
$45,000 5% 20-30-year (optional) gold coupon sewerage $17,300 4% I-5-year (serial) Wood Street improvement bonds.
improvement bonds.
11,000
bonds described in V. 82, p. 1001, were awarded, it is stated, 17,000 4% 1-5-year (serial) Penn .AvenueStreet improvement bonds.
4% 1-5-year (serial) West Fourth
to Weil, Roth & Co. of Cincinnati for $108,585 35.
4,500 4% 1-5-year (serial) Stewart .\venue improvement bonds
1,000 4jri 1-5-year (serial) North Diamond Street improvement bonds.
Independence School District, Montgomery County, Kan.
1,100 4% l-.5-year (serial) Wise .\vcnue improvement bonds.
1-5-year (serial) Plum Alley improvement bonds.
4,700
Bond Offering. Proposals will be received until 8 p. m., 11, 100 4% 1-5-year (serial) Harker Street improvement bonds.
2,000 5% 1-5-year (serial) Bouahton .4 venue improvement bonds.
May 21, by A. G. Harper, Clerk Board of Education, for
700 4% 1-3-year (serial) East Third Street sidewalk-improvement bonds
the $55,000 4J^% 16-year (average) school-building bonds
1,200 4% 1-3-year (serial) Orange Street sidewalk-improvement bonds
1-3-year (serial) Blanche Sfreetsidewalk-improvem.ent bonds.
1,500 4^
voted on April 3. Authority, Section 1, Chapter 434,
1-3-year (serial) Cedar Street sidewalk-improvement bonds.
2,200 4'
Statutes of 1903.
Denomination $1 ,000. Date July 1 1906.
900 4^^ l-3-yo«r (serial) Prospect Street sewer assessment bonds
Sewer District sewer assessment bonds.
500 4^^ 1-3-year (serial)
Interest semi-annual.
Certified check for 2% of the bonds
2,500 4% 1-3-year (serial) Chester and Stocking-Avenue sewer assessment bonds.
5,300 5% 1-5-year (serial) Ritters Run Arch construction bonds.
is recjuired.
000 5% 1-year Park .\ venue West street-repair bonds.
Indianapolis, Ind. Bond Offering.
500 5 /i 1-year Glenwood Boulevard, Parkwood Boulevard and Brinkerhoft
Proposals will be reAvenue street-repair bonds.
ceived until 12 m.. May 24, by Geo. T. Breunig, City CompDenomination $100 to $1,000. Interest semi-annually
troller, for the $100,000 33^% hospital bonds mentioned in
v. 82, p. 885. Denomination $1,000. Date June 1 1906. (except street-repair bonds, which will be paj^able annually)
Bonds mature on Sept. 1
Interest semi-annually at Winslow, Lanier & Co., New York at the office of the City Treasurer.
City.
Maturity Jan. 1 1936. Certified check on an Indian- as above. Each bid must be made on a blank form furnished
by the City Auditor and must be accompanied by a certified
apolis bank for 23^^% of the bonds bid for is recjuired.
check for 10% of the bonds bid for, payable to the city.
Innisfail, Ala.
Debenture Offering.
Proposals will be
Marshall County (P. O. Britton), S. B.—Bond Offering.
received until June 1 by James Jenson, Secretary-Treasurer,
for $8,000 5% improvement debentures.
Securities are Proposals will be received until 12 m., May 28, by M. S.
dated June 1 1906. Interest annual. Maturity part yearly Woodward, County Auditor, for the $40,000 5% court-house
Denominafor twenty years.
Certified check for 5% of the bonds bid bonds voted on April 2 (see V. 82, p. 948.)
for is reciuired.
Accrued interest, if any, to be paid by pur- tion $1,000. Date July 2 1906. Interest semi-annually in
Britton.
According to the official statement, there is no conchaser.
Assessed valuation, $268,502.
troversy threatened or pending affecting the corporate
Janesville, Waseca County, Minn.
Bonds Defeated. We existence or the validity of
these bonds.
are advised that this village on April 3 defeated the propoMemphis, Tenn. Bonds Not Sold. No bids were received
sition to issue the $10,000 water-worksj^bonds mentioned in
on May 10 for the $200,000 4% 30-year water bonds described
V. 82, p. 712.
We are informed that these bonds will
in V. 82, p. 1063.
Kincardine, Ont. Debenture O/Zering-.— Proposals will be
be readvertised later on.
received until 12 m.. May 23, by John H. Scougall, Town
Midville, Burke County, Ga.
Bonds Proposed. This town
Clerk, for $8,500 4% high-school debentures.
Securities are
dated Dec. 31 1905. Interest annual. Maturity part is seeking authority to issue $25,000 5% municipal-improveposals will be received until

1

p.

electric-light

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l.st

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yearly for thirty years.
Kitsop County School District No. 47, Wash. Bond
Sale.
The County Treasurer recently awarded $500 43^%
bonds to the State of Washington at par. Denomination
$100.
Bonds are subject to call after one year.
La Crosse, La Crosse County, Wis. Bond Sale. On May
8 the $30,000 4% 10-20-year (optional) coupon high-schoolbuilding bonds, described in V. 82, p. 1001, were awarded to
Geo. H. Ray, agent. La Crosse, at 101.033, accrued interest
and blank bonds. Following are the bids:
G. H. Ray, agent. La Crosse
..$30,3101 W. .J. Hayes & Sons, Cleveland.. £30, 020

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F.

Ii.

& Co.. Cleveland..
Anderson & Co., Cleve.

Fuller

Emery,

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..

30 305 S. A. Kean, Chicago

.-

30,301

30.015

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Lakewood, Cuyahoga County, Ohio. Bond Offering.
Proposals will be received until 12 m. May 26 by B. M.
Cook, Village Clerk, for $4,600 5% Hillard Avenue watermain-assessment bonds. Date June 1 1906. Interest payable semi-annually.

Maturity one-tenth yearly from Oct.

1

ment bonds.

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Milwaukee, Wis. Bond Offering. Proposals will be received until 10 a. m., June 4, by the Commissioners of Public
Debt at the City Comptroller's office for the following bonds:
50,000

4%
4%

100,000

4'7o

125,000

4%

$50,000
•

•

1-20-year (serial) coupon West Sewerage bonds, dated Jan. 1 1906.
Denominations 40 bonds of $1,000 each and 20 bonds o£ S500 each.
1-20-year (serial) South Sewerage bonds, dated Jan. 1 1906. Denominations 40 bonds oC SI. 000 each and 20 bonds ot $500 each.
1-20-year (serial) coupon docking and dredging bonds, dated Jan. 1
1900.
Denomination SI 000.
1-20-year (serial) coupon bridge bonds, dated July 1 1906. Denominations 120 bonds ot $1,000 each and 20 bonds ot S500 each.

and 41, Laws of 1898, and
Interest semi-annually at the office
of,ithe City Treasurer or at the Morton Trust Co., New York
Purchaser to pay accrued interest.
City.
Authority, Chapters 40b

amendments

Minnesota.

thereto.

—Loans. — The

"St. Paul'tPioncer Press" of

following

May

is

taken from the

8:
Applications for loans from the State aggregating $208,370 were granted by the
State Board of Investment at a meeting held yesterday. Mostjofitheimoney is to
be used in the construction of county ditches.
.Js

May

THE CHRONICLE

19 1906.1

ri7i

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Olympia, Wash. Bonds Refunded. This city has refunded its outstanding bonded debt of $200,000 6s by a new
County, borrows $10,000: district 18, in Red Lake
Scliool district 11, in Stevens
issue of $200,000 3% per cents.
The new bonds have
County $18 000: district 48, in Rock County. $7,000, and district 50, in Bis Stone
been taken by the State of Washington.
$3 000. The village of Litchfield gets $19,000 for refundment of old bonds, and
the town of Ardenhurst in Itasca County, $3,500.
Omaha, Neb. Bonds Voted. On May 1 the $50,000 4%
Montesano, Chehalis County, Wash. Bonds Atdhorized.
paving-intersection bonds, mention of which was made in
All ordinance authorizing the issuance of $13,330 20-ycar
V. 82, p. 766, were authorized by a vote of 5,405 to 1,232.
gold warrant-funding bonds was passed by the City Council
Maturity July 1 1926. We are inInterest semi-annual.
on May 10.
formed that these bonds will be put on the market about
Mount Penn, Berks County, Pa. Bonds Voted. The the middle of June.
issuance of $10,000 4}^% improvement bonds was auOrangeburg, Orangeburg County, S. C. Bonds Voted.
Date of sale not The issuance of $50,000 sewer-system bonds was authorized
thorized on May 15 by a vote of 57 to 44.
yet determined.
on May 8 by a vote of 125 to 52. Details of issue and date
of sale not yet determined.
Mount Vernon, Westchester County, N. Y. Bond Sale.
On May 15 the $50,000 4% 21-30-year (.serial) coupon fire
Otsego Union Free School District No. 1, Otsego County,
and police-station-building bonds and the $20,000 4% 20- N. Y.—Bond Sale.— On May 15 the $76,000 4% li^-lOJ^year bridge bonds described in V. 82, p. 1002, were awarded year (serial) coupon school-building bonds described in
to the Yonkers Savings Bank of Yonkers at 101.448 and V. 82, p. 949, were awarded to the First National Bank
101.10 respectively. Adams & Co. of Boston also bid 101.38 of Cooperstown at par. There were no other bidders.
for the fire and police-station-building bonds and 101.09
Owaneco School District, Christian County, 111. Bonds
for the bridge bonds.
Authorized.
We are informed that this district will issue
Mount Vernon, Ohio. Bond Offering. Proposals will be $3,500 5% school-building bonds. Securities are dated
Interest annual.
Maturity $1,000 vearly
recei\:ed until 12 m., May 21, by Stephen J. Dorgan, City Aug. 1 1906.
Audftor, for $13,000 5% coupon East Hamtramck Street from Aug. 1 1908 to Aug. 1 1910 inclusive and $500 on
paving bonds. Authority, Sections 1536-211, 1536-281, Aug. 1 1911.
1536-284, 1536-285, 1536-286 and 1536-288 of the Revised
Oxford, Furnas County, Neb. Bond Election. It is stated
Denomination $650. Date Oct. 1 1905. In- that the City Council has been petitioned to call an election to
Statutes.
Maturity $650 each vote on the issuance of $20,000 water-works and electricterest semi-annually in Mount Vernon.
six months from April 1 1906 to Oct. 1 1915 inclusive. light-plant bonds.
Bonds are tax exempt. Certiiied check for $100, payable to
Bo7id Offering.
Painesville, Lake County, Ohio.
ProPurchaser to pay accrued posals will be received until 12 m., June 11, by E. J. Lynch,
the City Auditor, is required.
Kandiyohi County gets $66,501 tor seven ditches; Freeborn. 828,457 for one
Benton County. $24,168 for use on six ditches: Clay County, $14,441 for one
and Kittson County. $14,30:3 tor two ditches.

ditch;
ditch,

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interest.

Bonded

including

debt,

this

issue,

Assessed valuation, .$2,800,000.

Murray School District (P. 0. Holley), N.
The issuance of $18,000 school-building
authorized on May 12 by a vote of 169 to 140.
issue and date of sale not yet determined.
Bonds Voted. The election
Nashville, Tenn.
Voted.

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sulted in a vote of

1

$37,665.

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Y. Bo?ids
bonds was
Details of

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May 3 re,142 to 667 in favor of issuing the $150,000

4J4% coupon Commerce Street extension bonds mentioned
in V. 82, p. 651. These bonds, we are advised, will not be
offered for some time.

Ohio. — Bonds Proposed.— Ordi-

Newark, Licking County,
nances providing for the issuance of $50,000 water-works
bonds and $8,000 police-station bonds are before the City
Council.

Newark School District, Licking County, Ohio.
The bids received on May 7 for the $15,000 4%

—Bids. —
1-15-year

bonds awarded, as stated last week, to Rudolph
Co. of Cincinnati, were as follows:

(serial) school

Kleybolte

&

Rudolph Kleybolte & Co., Cin. $15, 302 00 Emery, Anderson & Co., Cleve $15,112
Weil, Roth & Co., Cincinnati.. 15,230 001 New First Nat. Bk.,^ Columbus 15,112
Denison & Farnsworth. Cleve. 15,210 00 Security Sav. Bk.&Tr.Co.,Tol. 15,110
Otis & Hough, Cleveland
15,193 75|Hayden, Miller & Co., Cleve.. 15,108
Seasongood & Mayer, Cincin_. 15,155 70[F. L. Fuller & Co., Cleveland. 15,105
Union Sav. Bk. & Tr. Co., Cin. 15,151 50| W. J. Hayes & Sons. Cleve. _. 15,098
W.R.Todd &Co., Cincinnati. 15.115 001 L.ami)recht Bros. & Co.,lCleve. 15,076
1

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60
50
00
75

00
00
00

Newburg Heights, Ohio. Bonds Voted. Reports state
that the is.suancc of .$2,000 bridge bonds "and $1,200 ditch
bonds was authorized on May 1.
New Madrid School District, New Madrid County, Mo.
Bond Offering. Proposals will be received until 12 m.,
May 25, for $6,000 5% 10-20-year (optional) bonds. InDeposit of 5% of the amount bid is
terest semi-annual.

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City Auditor, for $20,000 4% street-improvement bonds.
Denomination $500. Date April 1 1906. Interest semiannually at the Painesville National Bank.
Maturity $500
each .six months from April 1 1907 to Oct. 1 1926 inclusive.
Certified check for 5% of the bonds bid for, payable to the
"Treasurer of the City of Painesville," is required. Bids
must be made on blank forms furnished by the city.

Peabody,

Essex County, Mass.

— Temporary

Loan.

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loan of $60,000 fur six months was recently negotiated with
Loring, Tolnian ct Tuppcr of Boston at 4.62% discount.

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Perry, Nobles County, Okla.
Bonds Voted. The election
held May 8 resulted in a vote of 287 to 50 in favor of issuing
the $30,000 51^% 20-year water-works bonds mentioned
in V. 82, p. 887.

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Pittsburgh, Pa. Bond Offering.
Proposals will be received until 3 p. m. May 31 by the City Comptroller for
$1,000,000 3J4% coupon (exchangeable for registered)
filtration bonds.
Denominations $100 and $1,000. Date
Interest April and October at the Pittsb.urgh
Oct. 1 1904.
Trust Co., Pittsburgh.
Maturity on Oct. 1 as follows:
$166,300 in 1923, $166,700 yearly from 1924 to 1928 inclusive and $200 in 1929.
Certified check for 5% of amount
bid for, payable to J. F. Steel, City Treasurer, is required.
Securities are part of an issue of $5,000,000 bonds, of which
$2 ,000 ,000 was sold last year and $1 ,000 ,000 are to be offered
May 31, as above. In addition $1,000,000 of the bonds are
to be taken by the sinking funds as an investment.

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Pleasantville, Westchester County, N. Y.
Bond Sale.
15 the $15,000 water bonds. Series "A," the $6,000
water bonds. Series "B," $6,250 water bonds. Series "C,"
and the $38,500 water bonds. Series "D," described in V. 82,
p. 1064, were awarded to the Mount Pleasant Bank of
Pleasantville at par for 4 per cents.
Following are the bids:

Proposals will be
Offering.
received until 12 m. June 14 by Otto Kelsey, State Comptroller, at Albany, for $1,000,000 3% gold canal-improvement bonds, to be registered or coupon at option of purchaser, bearing date of Jan. 1 1906.
Coupon bonds will be

Mt. Ple.asant Bank, Pleasantville (4s) pari Rud. Kleybolte & Co.. Cin. (for 4 Us) p.ar
Edmund Seymour & Co., N. Y. (4 Us) pari Geo. M. Hahn, New York (for 4;2S)--par
-N. W. Harris & Co. N. Y. (4 Us). ..par

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required.

M.

New York

J.

Conran

State.

is

Secretary.

—Bond

—

issued in denomination of $1,000 and registered bonds in de-

nominations of $1,000 and $10,000.

Interest semi-annually

Manhattan Company in the city of New
York. Maturity Jan. 1 1956. Bonds are exempt from
Authority, Chapter 147, Laws of 1903, and
taxation.
Chapter 302, Laws of 1906. Proposals must be accompanied by a deposit of money or by a certified check or
bank draft upon a bank or trust company of the city of
Albany or New York, payable to the order of the Comptroller of the State of New York, for at least 2% of the
par value of the bonds bid for. Accrued interest to be paid
at the

Bank

of the

by purchaser.
bond offering will be found among
Department.
Nutley School District, Essex County, N. J. Bond Sale.
We are informed that the $52,000 4% 40-year coupon school
bonds offennl but not sold on April 3 (see V. 82, p. 827) have
now been disposed of.
Oberlin, Decatur County, Kan.
Price Paid for Bonds.
Wc aw informed that the price paid bv the State School
Fund for the $10,000 4"^% electric-light bonds mentioned
in V. 82, J). 1117, was par.
Dcnomintitiou $500. Date
Interest April and October.
April 1
1906.
Maturity
April 1 1921, subject to call $500 yearly beginning in 191 1

The

the

official notice of this

advertisements elsewhere in this

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On May

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Plymouth, Mass. Bond Sale. This town recently
awarded $30,000 4% armory bonds to Estabrook & Co. of
Boston at 102.39.
Plymouth School District, Luzerne County, Pa. Bond
Sale.— On May 16 the $15,000 5% school bonds described in
V. 82, p. 1003, were awarded to Robt. E. Glendinning & Co.

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of Philadelphia at 113.765.

Portageville School District, New Madrid County, Mo.—
The State Auditor rcctnitiy registered
$1,500
school-building bonds of this district.
Denomination $500.

Bonds Registered.

6%

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Poteau, Ind. Ter. Bonds Voted. This place, it is stated,
recently autliorized the issuance of school bonds.
Preble County (P. O. Eaton), Ohio.— Bond Sale.— On
5 $320 4% ditch bonds were award(>d to the Preble
County National Bank of Eaton for $321 95. Denomination $80.
Date Mav 5 1906. InteiTst Mav and November.
Maturity $80 every six months from Nov.\5 1906 to Mav 5
1908 inclusive.

May

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Price, Carbon County, Utah.
Price Paid for Bonds.
are informed that the pric(> paid bv the First National
Bank of Price for the $10,000
5-10-year (optional)

Wv

6%

water-extonsion bonds awarded to them on .April 30 (see V.
82. p. 1117), was par.
Interest April and October.
Providence, R. l.—Bond Sale.— On Mav 15 the $300,000
31^% 30-year gold .school bonds described in V. 82. p. 1003,
were awarded to Commissioners of Sinking Funds of Providence at par.
Pueblo, Col.—Bond Election.— This city will vote to-day

(May

19)

on the three following questions:

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.

THE CHRONICLE.

1172

the propowKl Public Water Works District No. 2 of the City of Pueblo*
that part of the said City of Pueblo lying Houth of the
.(Vrkansjis lUver. be creator.'
2. Shall the City of Pueblo purchawo for the use and l)enetlt of said proposed
Public Water Works District No. 2 the water works plant ami property of the Pueblo
Water Company at the price and upon the terras stated in the written proposition
of.sald eonii)any on (lie wIlli the City Clerk?
3. Shall a bonded Imlclitcdniss of said district be created by said city In the
amount of SI. 000, 000 for the i)urposc of i)urchaslnt; sjild water-works plants and
system of the said the Pueblo Water Company upon the terms contained In said
proposition of said company?
1. Shall

Colorado,

ooiislstliiK of all

proposed to authorize
$1,000,000 in 41^% bonds, of which $502,000 bonds arc to
be dehvered to the water company, tlie city to assume
$468,000 water company's bonds, togetlier with the sinking
fund of $30,000 now on hand, leaving net debt assumed of
This debt is to be retired whenever the old bonds
$438,000.
can be purchased with the $438,000 bonds remaining of
the $1,000,000 bonds to be voted at this election.
River Rouge, Wayne County, Mich. Bond Offering.
Proposals will be received untili2 p. m. to-day (May 19) for
$150,000 4J^% ^ewer-systcm bonds. Interest semi-annual.
Maturity June 1 1936. Securities were authorized by a vote
of 186 to 24 at electicm held on April 30 1906.
Roanoke, Va. Bond Sale. On May 8 the following bonds
were awarded to Rudolph Kleybolte & Co. of Cincinnati at
If

the iibovc propositions carry,

it is

—

—

par:
$414,000 414% 30-year funding bonds, dated July 1 1906.
3270,000 4% 30-year Improvement bonds, dated Jan. 1 190G.
*• Denomination $1,000.
Interest Januarv and

July.
The
$270,000 bonds mentioned above are part of the $400,000
30-year improvement bonds offered without success on Jan.
10, and of which $72,000 were sold some weeks ago, as
The remaining $58,000 were restated in V. 82, p. 651.
cently taken, $30,000 by the Aetna Fire Insurance Co. and
$28,000 by C. Markley of Roanoke at par.

4%

4%

Rockford, III.— Bond Sale.— On May 14 the $36,200
10-year refunding bonds and the $60,000 4% 10-year permanent-improvement bonds described in V. 82, p. 1117 were
awarded to Rudolph Kleybolte & Co. of Cincinnati at
Following are the bids:
100.875.
Rud. Kleybolte &i$36,200_ .$36,510 75 Rockford National Bank

$96,406 83

i

Co., Cincinnati..!. 60,000-- 60,525 00 First National Bk., J $36,200.- 36,225,00
I

S.

96.92150) Chicago
Sons, Cleveland 96,279 OOlN. W. Harris

A. Kean, Chicago

W. J. Hayes &

— —— — —

60.000.- 60,045100
Co., Chicago..
a. par
1

&

a Accrued interest.

NEW

[Vol. Lxxxn.

A bid of 100.4461 was also received from Jose, Parker
Co. of Boston.

—

election.

Charles Township School District No. 1, Saginaw
- /^ortc^ Sale— On May 15 85,000 5% coupon
school-buldiiig bonds were awarded to W. E. Mo.ss & Co.
of Detroit at 102.15 and accrued interest.
Following are the
St.

County, Mich.

bids:

W. E. Moss & Co., Detroit
$5,107 50 S. A. Kean, Chicago
$5,030 00
H.W. Noble* Co.. Detroit
5,105 OOiParsons & Holt, St. Charles
5,025 50
Denomination $1,000. Date May 15 1906. Interest Feb.
1 and Aug. 1.
Maturity $1,000 yearly on Feb. 1 from 1909
to 1913 inclusive.
Bonded debt, this issue. A.ssessed valution, $449,000.
St. FrancisJLevee District, Ark.
Bonds Proposed. The
Levee Board has decided to petition the Legislature for
authority to issue $500,000 improvement bonds.
Sault Ste. Marie, Mich.
Bond Offering. This city is
offering at jjiivatc sale .$40,000 4% 1-4-year (serial) refunding
bonds.
Denomination $1,000. Date June 1 1906. Interest semi-annual.
Chas. G. Clarke is City Comptroller.

—

—

Salamanca, Cattaraugus County, N. Y.

NEW

PASSAIC COUNTY,

EXEMPT FROM TAXATION.

Dollars in

Bonds

to be issued by the people of the State of New York,
in either registered or coupon form at the option of the
purchaser, bearing interest at the rate of three per cent

annum from January

1. 1906, payable -semi-annually
days of January and July of each year, and
the principal payable on the first day of January in the
year 1956. Principal and interest payable in gold coin
of the United States of America, of the present standard
of weight and fineness, at the Hank of the Manhattan
Company in the city of New York.
Coupon bonds will be issued in the denomination of
One Thousand Dollars and registered bonds in denomi-

per

on the

first

nations of One Thousand and Ten Thousand Dollars.
A sinking fund is established by law for the extinguishment of the indebtedness created by the sale
of the aforesaid bonds and for the payment of the interest thereon as the same become due.
The Bonds are exempt from taxation.
No proposal will be accepted for less than the par
value of the bonds nor unless accompanied by a deposit
of money or by a certified check or bank draft upon a
bank or trust company of the city of Albany or New

Blodget, Merritt

& Co

,

BANKERS,
Boston.
3« NASSAU STREET. NEW YUKK.

York, payable to the order of the Comptroller of the
State of New Y'ork, tor at least two per cent of the par
value of the bonds bid tor.
.^11 proposals, together with the security deposits,
must be sealed and endorsed "Loan for Canal Improvement" and inclosed in a sealed envelope directed to tlie
"Comptroller of the State of New York, Albany."
The successful bidder or bidders will be required to
pay for the bonds, on the acceptance of the proposal,
by deposit in the bank of the Manhattan Company in
the City of New York to the credit of "lYeasurer of
the State of New Y'ork on account of the Canal Fund,"
of the amount of the award, together with premium
and accrued interest from January 1, 1906, less the
amount of the deposit of such successful bidder or
bidders, which will be applied toward the payment for
the bonds. All other deposits will be returned by
mail to the respective bidders within three days after
the bonds have been awarded, unless different instructions to the Comptroller as to the return of tlie deposit are duly given.
The Comptroller reserves the right to reject any or
all bids which are not in his opinion advantageous to the
interests of the State.

RAILROAD BONDS.

Tax

rate. 2.1G.

Population, census of 1905, 7.1S7.
i)roposal must be accompanied by a certified
check for one per cent of the amount of bid, duly
certified by a
national or incorporated bank, m,ade
payable to E. J. Nelson, District Clerk, as a guaranty
that bonds will be taken if bid is accepted.
No bid below.. par will be considered.
Bonds to be dated June 1 1906. and must be taken
and fully paid for, including accrued interest, on or
before July 1 1906.
Bids should be addressed to E. J. Nelson, District
Clerk. Clifton. N. J., and properly endorsed, and will
be received by him either by mail or in person up to
the time of opening same.
The right is reserved to reject any or all bids.

Each

Dated May

14, 1906.
J.

E

NELSON,

District Clerk.

Whiting Papers

Coftiptrolkr

State Comptroller's OfBce,

Albany, N. Y.

May

17,

1900.

MUNICIPAL AND
PUBLIC FRANCHISE CORPORATION
BONDS
Boueht and Sold.

W.

J.

HAYES

CLEVELAND, OHIO.
ft

SCHOOL BONDS
Sealed proposals will be received by the Board of
Education of the Township of Acquackanonk, on
29th 1900, at 8 p. m. at the Board
TUESDAY.
rooms. School No. 3, Clifton Avenue near Main Avenue,
C;iifton. N. J., and then and tliere be publicly opened
for the purcliase of School bonds in the amount of
S43.500, to be in the denomination of SI. 000, save
tlu'ee to be in the denomination of S500, to bear
nterest at the rate of four per cent per annum and
to run from twelve to thirty-nine ye.ws.
Said bonds are to be coupon bonds and are to be
is.sued under and by virtue of the provisions of an Act
of the Legislature of the State of New Jersey, entitled
"An Act to establish a thorough and efficient system
of free public schools, and to provide for the maintenance, support and management thereof," approved
October 19 1903.
The proceedings for the issue of these bonds have
been approved by the .\ttorney-General of the State.
Bonded debt, including this issue. 872,500.
Heal estate valuation, 1905, 82.172,775.

OTTO KEI.SEY.

16 Cono^ress Street,

STATE, ClXr

N. J.,

MAY

CANAL IMPROVE VENT.

IVlillion

LOANS.

Acquackanonk Township,

FOR

One

—

—

STATE OF NEW YORK

hereby given that pursuant to the provisions
and chapter 302 of the
laws of 1900, sealed proposals will be received at the
office of the State Comptroller, in the city of Albany,
until Thursday, June 14, 1906, at twelve o'clock, noon,
of that day, for the purchase in whole or in part of

Offering.

—

OF THE

is

Bond

Proposals will be received until 8 p. m. Ma\- 25 by C. F.
Buckmaster, Village Clerk, for $5,000 water-extension bonds
at not exceeding 5% interest.
Denomination $1,000. Date
Aug. 1 1906. Interest semi-annually at the Salamanca
Trust Co. in Salamanca.
Maturity $1,000 yearly on Aug. 1
from 1907 to 1911 inclusive. Certified check for $300, payable to the Village Trea-surer, is recjuired.
Salem, Dent County, Mo. Description of Bonds. The
$20,000 water-works bonds voted on April 3 will carry
interest at a rate not exceeding 4%, payable semi-annually.
Maturity tewnty years, subject to call after five years.
Bonds will be dated about July 2 1906.
San Antonio, Texas. Bonds Not Yet Sold. No disposal
has yet been made of the $120,000 5% 20-40-year (optional)
district-improvement bonds offered on Jan. 15, as described

BONDS

Notice

&

Roscoe Independent School District, Nolan County, Tex.
Bonds \'oted. it is stated that a proposition to issue $6,000
school-building bonds was voted unanimously at a recent

LOANS.

of chapter 147 of the laws of 1903

—

For Fine Correspondence
and for Oeneral Business Uses are
made in Ledger, Bond,
Linen and Fine Writing In rariety.
standard,

SONS, WHITING PAPER

&,
BOSTON, MASS.

New

CO.,

Philadelphia. Chicago.
milUi Holroke, Maaa.

York.

May

THE CHRONICLE.

19 1906.]

nation $100. Date May 1 1906. Interest semi-annually at
Maturity $5,000
the First National Bank in South Fork.
on May 1 in each of the following years: 1911, 1916, 1921,
Bonds are free from tax. Certified
1926, 1931 and 1936.
check for 5%, payable to the Secretary of Board of DirecBonded debt, this issue. Assessed valuators, is required.
tion for 1906, $624,960.
Springfield School District, Greene County, Mo.
Bond
Proposals will be received until 12 m.. May 24,
Offering.
by M. Bowerman, Secretary, for the $60,000 4% schoolbuilding bonds voted on April 30.
Securities are dated
June 1 1906. Interest semi-annual. Successful bidder will
be required to deposit a certified check for $3,000.
Bond Offering. Further details are at hand
Steelton, Pa.
relative to the offering on June 6 of the $40,000 4% 10-20year (optional) coupon paving bonds mentioned in V. 82,
Proposals will be received until 7:30 p. m. on
p. 1118.
that day by John D. Young, Borough Secretary.
Denominations $100 and multiple. Interest Jan. 1 and July 1
Bonds are taxat the Steelton National Bank in Steelton.
exempt. Certified check for $1,000, payable to Le Roy H.
Bonded debt, including
Sutton, Treasurer, is required.
Assessed valuation $5,319,000.
this issue, $230,000.
Tecumseh, Johnson County, Neb. Bonds Proposed. The
question of issuing $10,600 electric-light-plant bonds is
being agitated.
Toccoa, Habershaw County, Ga. Bonds Voted. A vote
of 302 for to 2 against was the result of the election held May 3
on the question to issue the $35,000 5% water- works bonds
These securities under the law
described in V. 82, p. 1003.
must be validated by the Superior Court before they can be
issued, and as the bonds will be dated Jan. 1 1907 they will
not be put on the market until October or November.
|iy
Bond Offering. Proposals
Tofte, Cook County ,|Minn.
will be received until 2 p. m.. May 28, by the Town Supervisors for $10,000 road bonds at not exceeding 6% interest.
Authority, Chapter 64, Laws of 1905.
Securities are dated
May 8 1906. Interest annual. Maturity twenty years.
Toledo, Ohio. Bonds Authorized. The City Council on
April 23 passed ordinances authorizing the issuance of^the
following bonds:

4%

20-40-year (optional)
in V. 81, p. 1868, and the $300,000
refunding bonds offered on March 24 and described in V. 82,
It is probable, we are informed, that the bonds
p. 529.
will be re-offered in the near future.

—

—

San Bernardino, Cal. Bond Election. An election will
be held in this city to-day (May 19) for the purpose of
voting on propositions to issue $38,000 street-improvement
and $22,000 bridge 43^% 1-40-year (serial) gold coupon
bonds. Interest semi-annually at the office of the City
Treasurer.

—

—

Sanders County (P. O. Thompson), Mont. Bond Sale.
10 the $40,962 06 4% 10-20-year (optional) warrantfunding bonds described in V. 82, p. 767, were awarded to
We have not yet been advised
the State of Montana at par.
as to what disposition was made of the $10,000 4% 10-20year (optional) warrant-funding bonds offered at the same
time
San Juan County (P. O. Friday Harbor), Wash. Bond
On May 9 the $14,000 4% court-house bonds, menSale.
tion of which was made in V. 82, p. 768, were awarded to

—

—

Denomination $1,000.
the State of Washington at par.
Date June 1 1906. Interest annual. Maturity twenty
years, subject to call after one year.
Santa Monica School District, Los Angeles County, Cal.
Bonds Voted. This district on May 2 authorized tlie issuance
of $60,000 bonds.
Shelby ville School District, Shelby County, Mo. Bond
Sale.— On May 5 the $12,000 5% school-building bonds
described in V. 82, p. 1064, were awarded to MacDonald,
McCoy & Co. of Chicago for $12,131, blank bonds and
Bonds are dated May 15 1906.
accrued interest.

—

Sheldon, Ransom County, No. Dak. Bonds Not Sold.
This village rejected all bids received on May 15 for the
$3,500 6% water-works bonds described in V. 82, p. 1064.
We are informed that the bonds are now being offered at
private sale.
South Fork School District, Cambria County, Pa. Bond
Proposals will be received until June 1 by John C.
Offering.
Penrod, Secretary Board of Directors, for the $30,000 4i^%
coupon school-building bonds voted on Feb. 20. Denomi-

NEW

NEW

LOANS.

—

INVESTMENTS.

LOANS.

New

Brunswick,

NEW

BRITAIN CONN.,
SEWER BONDS.

DEBENTURES
Tenders, addressed Treasury Department. City of
Saint John, Province of New Brunswick, and marlsed
"Tenders for Debentures," will be received by the undersigned up to 12 o'clock, noon, on the Twenty-eighth
day of .June, 190G. tor the purchase of Seven hundred
and twenty-one Thousand (S721,000) Dollars, •Saint
John City Debentures," to be issued by the City of
Saint John, payable at the expiration of forty years,
with interest at four (4) per cent per annum, payable
Principal
half yearly from the First d.ay of May, 1906.
and Interest mav be payable at Chamberlain's Office,
in Saint John, New Brunswick, or in Great Britain, or

Sealed proposals will be received at the office of tlio
Sewer Commissioners, New Britain, Conn., up to noon.
May 29, 1906, for one hundred and fifty (150) sewer
bonds, 7th series. Each bond being for one thousand
dollars, bonds to bear interest at 4%, payable semiannually, January 1st and July 1st, principal becoming
due in 193C. Proposals shall be accompanied by a
certified check to the amount of one thousand dollars,

payable to the Treasurer of the City of New Britain.
right is reserved to reject any and all bids as the
interest of the City may appear.

The

Signed
S.

elsewhere.

The Debentures may be expressed in sterling money
of Great Britain, in currency of Dominion of Canada, or
in the currency of any foreign Country, and in sums
not less than Five Hundred Dollars each as purchaser

may

JOHN PINCHES,

HERBERT

Albert Kleybolte

&

MUNICIPAL BONOS

R.

L.

COUNTY

STOCKS

BONDS

EVERY WEDNESDAY.
No. 66 WILIilAlTl SXREET
Corner Pine Htreet.

Co.,

BONDS.

OTUWICIPAL: BOXDS.
CLEVELAND.

Perry, Coffin

So

Burr,

INVESTMENT BONDS.
BOSTON.
Mobile City Bonds

Alabama State Bonds
Dealt in by us.
Oflerius.

MACARTNEY & SOHLEY
BANKERS & BROKERS
niOBlIiE, AliA.

Specialists

in

New

Jersey Securities!

EISELE & KiNC,
BANKERS,
Members of New York and

Philadelphia
Stuck E.YchanKes.

Private Wires to
N. Y. A Philadelphia.

737-r3» Broad

NEWARK.

St..

Trowbridge &Nlver Co. MUNICIPAL AND RAILROAD

Kpcclall»tM In
Carfield Buildir^g,

and

MUNICIPAL AND PUBLIC SERVICE

8l

BONDS.

Wire u* your

AUCTIONEERS.
Regular Weekly Sales

& Sons Co

Emery. Anderson

YORK.

OF

BONDS.
^ "^-Z^

AND

PUBLIC SERVICE CORPORATION

& Son

Adrian H. Muller

Bnlldingr, Chicago.

AND TOWNSHIP

NEW

STOCK EXCHjtNGES.

Ofllce

CITY

3 Nassau Street,

MKMBKBS
NEW YOEK AKD BOSTON

on application.

Nat Bank

Philadelphia.

MUNICIPAL

CO.,

Sc

BOSTON.

Full desorlptions, showing price and Income

First

DAY

35 Congress Street,

Securities.

H. C. Speer

Detroit.

BANKERS,

And other Hiofh-Grade

KatablUtavd IHHft.

COMPANY,
Land-Title Bl3Q.

Clerk.

STATE, niUNICiPAli ANU U16H UKA0K
KAIL,KOAl» f^CUKlTlES.

Carefully Selected

Investment

Board of Sewer Commissioners,
communications to

W. NOBLE &

Penobscot Budq.,

60 State Street,

Co.,

409 'Walnut Street,
CINCINIVATI, O.

all

W. H CAD WELL.

desire.

Resolutions passed by the Common Council of the
City of Saint John provide for the formation of a Sinking Fund for the redemption of these Debentures at
maturity.
Parties tendering must state in their tender in what
currency, in what sums and where they desire the Debentures and Interest to be made payable.
The highest or any tender not necessarily accepted.
By order of the Treasury Department of the Common
E.WARDROPER.
Council
Common Clerk, City of Saint John. N. B.
Prospectus in connection with above loan may be
obtained upon application.

H. STEARNS,
H. BEACH,

EDGAR

Address

—

—

H.
City of Saint John,

—

—

—

—

—

—

—

—

—

—

—

—

—

—

On May

—

1173

let

CHICAGO,
Nat. Bank Bldg.

BOSTON,
60 State Street

BONDS.
LIST ON APPLICATION.

SEASONGOOD & MAYER
Mercantile Library BallAInc,

CINOINNATI.

— —

i

$80,000 3.65% Jfoupon .stript-lmproveiiient (cltys portion) Ijonds.
$1,000. Date May 1.^ 1900.
the rnltcd .state.') Mort^aKC

&

Trust Co. In

New York

5,405 60

5%

4,952 08

5%

2. 822

5%
5':

U
_

447 47

5%

»

i'

5%

—

Vancouver, B. C. Debenture Offering. Proposals will
be received until 4 p. m., Julj' 6, by A. McEvoy, City Clerk,
for $679,406 55 4% local-improvement debentures.
Maturity as follows: $35,000 in 10 years, $74,825 12 in 12 years,
$43,551 63 in 20 years, $42,400 80 in 30 years and $483,629
in 40 years.
Certified check for 1% of the amount bid,
payable to the City Treasurer, is required.
Warren County (P.O. Vicksburg), Miss. Bonds Not Sold.
The following bids, all of which were rejected, were received on May 9 for the $50,000 5% 5-20-year jail-building
bonds, described in V. 82. p. 888:
Brunim & Hirsch
$51.501 Mississippi Bank & Trust Co
$50 500
MacDonald, McCoy & Co., Chic.. 50.911 W. J. Hayes & Co.. Cleveland
50.057

—

90.
six

coupon Alley No. 20 a.ssessment bonds dated Jan. 15 1906. Denomination SlOO except one bond for $81 54. Interest March 15
and Sept. 15. Maturity one bond each six months beginning
March 15 1907.
coupon Camden Street No. 1 a.ssessraent bonds dated Feb. 5 1906.
Denomination $45 except one bond for $42 47. Interest March 5
and Sept. 5. Maturity one bond each six months beginning March 5

1

'

S. A.

Kean, Chicago

Bonds

will

50.550!

be re-advertised.

—

Wellsville, N. Y.
Bonds Not Sold. All bids received on
May 16 for the $29,963 55 street-improvement bonds described in V. 82, p. 1120, were rejected.

1907.

Interest payable at the office of the City Treasurer.

Union City School District, Darke County, Ohio. Bond
Sale.— On May 10 the $22,000 4% 15-year (average) coupon
school-building bonds described in V. 82, p. 888, were awarded to Otis & Hough of Cleveland.

Western Branch School District No. 1, Norfolk Coimty,
Bonds Not Sold. No sale has yet been made of $40,000
4% bonds offered but not sold on April 28.
Yonkers, N. Y. Bond Offering. Proposals will be received until May 26 by John H. Coyne, Mayor, for the

—

Va.

—

Union Free School District No. 5, Broome County, N. Y.
Bond Sale.— On May 16 $19,000 high-school-exten.sion
bonds 'were awarded to W. J. Jones as President of the
First National

following bonds:
8200,000

5%

Authority Section 13 of Title V. of the City Char
semi-annual.
Maturity Feb. 1 1908. Bids received

redemption bonds.
ter.

57,650

4%

Intere.st

until

Bank

of Lestershire at par for 4}^ per cents.
Other bidders were Isaac W. Sherrill of Poughkeepsie, par
for 4i^s. and S. A. Kean of Chicago, 104 for 6s.
Denomination $1,000.
Date June 1 1906. Interest annually on Dec.

11a.m. May

R.

FULTON & CO.,

Municipal Bonds.

AND

Corporation

(71

LA SALLE STREET.

CHICAGO

BONDS.
E. H.

BOSTOX.
San Francisco.

Chicago.

RANGE OF PRICES
24

YEARS.

1882—1 9
ERVIN & COMPANY,
BANKERS,
5

New York

\

,

INVESTMENT.
Drexel Building,
Philadelphia.

MacDonald, McOoy

Interest.

Does

h

Co.,

Salle Street, Chicago.

Denison & Farnsworth,

1887 issue>hich gives 1882-1886
"
"
1892 "
1887-1891
"
"
"
1896
1891-1895
"
"
1901 "
1896-1900
"
"
1906 "
1901-1905

JAMES H. OLIPHANT.
CHARLES A. PEABODY.
JACOB H. SCHIFF.
JAMES SPEYER,
EDWARD O. STANLEY.

CLARENCE

gteel or IlthoKrapbed, or
gartlr printed and partly lltbographed.
iook of 100 oertlfleates, Bteel-plat«
border, and seal press, $16: cheaper
styles as low as $2 60 (or a book ol 60.

EIN& &

CO.,

206 Broadway, N.Y.

H.

KELSEY

FRANK BAILEY,

EDWARD

O.

STANLEY

President.
Vice>Pi«fldent.
Second VIce-Preildant.

Manager Banking Department.

CLINTON D. BURDICK, Third VIce-PreddMit,
J.iWRAY CLEVELAND, Secretary.
ARTHUR TERRY, Treaiurct.
L.

SNIFFEN. Manager Brooklyn Banking
Department.

PRICE

$2

PER COPY.

ENGINEERS.
Some

earlier issues

may be had

at $5^a

J.

G.

WHITE &

CO.,

Engineers, Contraciors,

Commercial

&

Financial jgChroniclc 43-49 ExchanorelPlace.

ii76M PINE STREET,

NEW YORK.

NEWIYORK

Inveatlgaiions and Report* on Electric
Hallway. Gas, Electric Liirht, and
Power TransinlssioQ Properties
for Financliil Ins'itnilona

and Investor*.

Eailways, Electric Light and £lectri«
Power Plants Financed, Designed and Built.

£lefitric

PUBLICATIONS.

B.

T. BEDFORD.
CLARENCE H. KELSEY.
EDQAR L. MARSTON.
WILLIAM H. NICHOLS.

PRANK

BOSTON and CLEVELAND.

BONDS s^SBk certificates
Eoeraved on

Business.

EDWARD

Gives a monthly range ot Stock and Bond Prices lor
five years.
We can supply
.^

HICH CRADE BONDS
litsts.apon request.

Company

In Charge of Banking Interettf.

OUR ANNUAL
THE FINANCIAL REVIEW

copy.

ALBEBT

all Trust

FINANCE COMMITTEE.

BONDS.
La

Furnishes Mortgages to Investors.
SeeeivesDfposits subject to cheek, allowing

OS.

KUmCIPAL AKD CORPORMTIOM

X7I

Examines & guarantees Real Estate Titles.
Loans Money on Hond and Mortgage.

'

York.

$10,000,000

Title guarantee
andTRUST company

Stock Exchange,

48 Exchange Place,

New

^^^s'jR^^r

Philadelphia Stock Exchanga.

BONDS FOR

1906.

198 Montazue Street. Brooklyn Banking Dept.

FOR

„

1

146 Broadway. New York.
175 Remsen Street, Brooklyn.

ROLLINS & SONS.

Denrer.

June

Securities will be dated

MISCELLANEOUS.

MUNICIPAL
Service

20.

assessment bonds. Authority Section 36 of Title VII. of the City
Charter. Maturity $42,500 Feb. 1 1907 and $15,150 Feb. 1 1909.
Bids received until 12 ra. May 26.

INv/ESTMENTS.

Public

from 1906 to 1924

—

8 1907.

6%

1

Vacaville, Solano County, Cal.
Bond Ojjerimj. Proposals will be received until
jj. lu. June 20 by E. \V. Manuel,
Town Clerk, for the $2.5,000
gold coupon sewer bonds
voted on Feb. 20. Authority Section 27, Chapter 32, Laws
of 1901.
Denomination $1,000, Date July 2 1906. Interest .semi-annually at the Town Treasury.
Maturity $1,000
yearly on July 2 from 1907 to 1931 inclu.sive. Certified
check on .some bank in San Fraiitisco for 10% of the bonds,
payable to the Town Treasurer, is required.
Bonded debt
this Lssue.
Assessed valuation for 1905, $494,000.

March .s 1907.
ooupon Ontario .street No. 10 assessment bonds dated .Ian. 12 1900.
Denomination .$540 except one bond for S545 00. Interest .March
12 and Sept. 12.
Maturity one bond each six months bCKlnning
March 12 1907.
coupon Heech Street No. 1 assessment bonds dated .Ian 25 1900.
Denoinlnatlon $500 except one bond for S452 08. InK^rcst March
25 and Sepr. 25. Maturity one bond each six montlis beginning
March 25 1907.
coupon Nineteenth Street .\o. 4 assessment bonds dated .\prll 8 1900.
Denomination S280 except one bond lor S:<02 23
Interest March
8 and Sept 8.
Maturity one bond each six months beginning
March 8 1907.
coupon Maplewood Aventie assessment bonds dated April 8 1900.
Denomination S410 except one bond for S401 19. Interest March 8
and Sept 8. Maturity one bond each six months beginning March

April 10 1900.
Denomination S7,500 except one bond for $7,144
Interest .March 16 and Sept. 16.
Maturity one bond each
months beginning March Ki 1907.

[Vol. lxxxji.

inclusive.

Interest on the assessment bonds will be payable at the
office of the City Treasurer.
The $4,091 19 Maplewood
Avenue bonds mentioned above take the place of the .$3,091 19 Maplewood Avenue bonds authorized March 26.
On May 7 the following bonds were authorized:
$74,644 96 5% coupon Summit and Galena streets No. 2 assessment bonds dated
981 54

—

—

Maturity $1,000 yearly on Dec.

1.

Ma-

City.

^coupon I'arkwood Avenue No. 3 a.sse.s.sment bon<ls dated .^prll 8
I90li.
Uenoinlnatlon S440 expept one bond tor $440 90. Interest
March ,H and Sept. 8. Maturity one bond each six months beglnnlni?

4.400 90 5'

4.091 19

ncnomlimtion

Intorcsl sfrnl-annimlly ut the office of

turity twenty years.

23

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THE CHRONICLE.

1174

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