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Bank and Quotation Section (1VIonthly)
Railway and Industrial Section (Quarterly)
VOL. 86.
State and City Section(Semi-Annually)
Electric Railway Section(Thrwdpes)
SATURDAY, MAY 30 1908.
The Throutele.
1908.
Terms of Subscription-Payable in Advance
For One Year
$10 00
For Six Months
6 00
European Subscription (including postage)
13 00
European Subscription six months(including postage)
7 50
Annual Subscription in London (including postage)
22 14s.
Six Months Subscription in London (including postage)
21 118.
Canadian Subscription (ideluding postage)
$11 50
Subscription includes following SupplementsB iNK AND QUOTATION (monthly)
START AND CITY (semi-annually)
RAILWAY AND INDUSTRIAL(quarterly) I ELECTRIP RAILWAY(3 times yearly)
Terms of AdveTtising-Per Inch Space
Transient matter per inch space(14 agate lines)
$4 20
Two Months
(S times)
22 00
Three Months (13 times)
29 00
Standing Business Cards
Six Months
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50 00
Twelve Months(52 times)
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CHICAGO OFFICE-P. Bartlett,513 Monadnock Block; Tel. Harrison 4012.
LONDON OFFICE-Edwards & Smith,1 Drapers' Gardens, E. C.
WILLIAM B. DANA. COMPANY,Publishers,
P.O.Box 958. Front. Pine and Depeystor Stn., Now York.
Published every Saturday morning by WILLIAM B. DANA COMPANY.
William B. Dana,President; Jacob Seibert Jr.,Vice-Pres. and See.; Arnold
G. Dana,Treas. Addresses of all,Office of the Company.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all clearing houses of the U. S.
for week end. May 30 have been $2,091,802,111, against $2,604,806,706 last week and $2,344,944,895 the week last year.
Clearings--Returns by Telegraph May 30
1908.
1907.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
$1,281,153,532
112,251,782
88,554,209
18,196,413
185,740,277
99,567,294
10,262,482
$1,058,321,148
87,473,699
103,934,471
18,459,341
162,646,734
44,000,000
13,208,426
+21.1
+23.3
-14.8
-1.4
+14.2
+10.4
-22.3
Seven cities, 5 days
Other cities. 5 days
$1,740,725,939
351,017,612
$1,488,043,819
338,694,813
+16.9
+3.6
Total all cities, 5 days
All cities, 1 day
$2,091,802,111
$1,826,738,632
522,206,263
+14.5
$2,091,802,111
$2,348,944,895
-11.0
Total all cities for week
The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week has
to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, May 23, for four years.
Week ending May 23.
Clearings at1908.
1907.
Inc. or
Dec.
1906.
.
1905.
$
$
$
%__
1,607,027,028 1,656,086,092 -3.0 1,665,808,119 1,821,44,781
New York
Philadelphia _ _ _ 117,555,976 138,469,660 -15.1 154,489,515 135,567,239
40,443,343
Pittsburgh
56,930,193 -28.9
50,201,443
55,791,749
21,828,573
Baltimore
26,689,723 -18.2
26,192,485
24,563,130
8,520,932
8,556,186 -0.4
7,464,645
Buffalo
6,371,142
6,878,331
5,246,713
7,948,681 -13.5
4,198,842
Albany
5,924,884
5,984,893 -1.0
5,915,858
Washington __
5,368,135
3,450,000
3,301,834
3,177,393 +39.0
Rochester
3,875,893
2,312,890
2,073,943 +11.5
1,818,227
Scranton
1,689,888
1,980,920 -8.5
1,811,815
1,456,578
Syracuse
1,265,858
1,231,071
1,275,763
1,467,950 -1:3.1
Reading
1,009,767
1,240,858 -5.6
1,209,998
1,170,852
Wilmington
973,978
1,182,818 -8.2
1,037,819
Wilker-13arre _ _
1,035,805
948,615
1,152,164 +27.9
848,173
1,474,360
Wheeling, W. V
749,547
804,635
1,048,254 -4.6
1,000,000
Harrisburg
660,028 -15.3
550,073
.573,177
Erie
494,:359
507,282 -7.2
497,567
Chester
470,978
400,533
432,147
568,226 -16.3
Greensburg
475,800
442,549
506,4(40
479,900
+1.1
Binghamton
512,000
435,500
249,970
271,225 +5.6
Franklin
286,454
242,965
York
668,595 Not included In total
Not Included in total
Altoona
Total Middle__ 1,823,916,6011,916,502,889
-4.8 1,929,408,040 2,065,986,470
147,507,031
5,853,500
2,830,466
2,121,483
1,800,000
1,497,535
1,407,488
917,892
704,583
473,852
402,155
140,823,081
7,562,500
3,107,326
2,321,051
2,133,040
2,252,118
1,548,967
1,074,044
751,918
490,949
485,623
+4.6 139,335,384 131,041,962
7,621,200
-22.6
7,474,100
3,514,701
2,670,011
-8.9
2,056,333
-8,6
2,152,145
1,612,289
-15.6
1,693,970
1,634,435
1,399,71(1
-33.5
1,485,060
1,520,952
-9.1
772,376
632,480
-14.6
621,899
494,432
-6.3
472,373
-3.5
440,98(
465,454
-17.2
485,10(
165,315,985
162,550,617
Boston
Providence
Hartford
•
New Haven
Springfield
Portland
•
Worcester
•
Fall River
New Bedford_ _ _
Lowell
Holyoke
Total New En
+1.7
159,592,004
Week ending May 23.
Clearings at
PUBLISHED WEEKLY.
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis
Columbus
Toledo
Peoria
Grand Rapids_
Dayton
Evansville
Kalamazoo
Fort. Wayne_
Youngstown
Springfield, Ill_
Rockford
Akron
Lexington
Canton
Bloomington_
South Bend
Mansfield
Springfield, 0
Quincy
•
Decatur __ _____
Jackson
Jacksonville, Ill_
Ann Arbor
Adrian
Danville
Tot. Mid. West
3an Franciso
Los Angeles
Seattle
Portland
Salt Lake City...
Spokane
Tacoma
Oakland
Helena
Fargo
San Jose
Sioux Falls
Sacramento
Stockton
Fresno
North Yakima_
Billings
NO. 2240
1907.
Inc. or
Dec.
1906.
1905,
$
$
%
222,743,132 246,891,703 -9.8
21,556,800
26,847,750 -19.7
13,437,028
17,649,660 -23.9
17,325,691
13,429,947 +29.0
9,162,953
9,624,729 --4.8
6,488,970
7,312,563 -11.3
4,134,200
5,598,000 -24.4
3,621,963
3,872,703 -6.5
2,046,395
2,744,217 -25.4
2,161,811
2,474,953 -12.6
1,566,683
1,985,327 -21.1
1,715,807
1,799,487 -4.7
1,039,490
1,071,122 -3.0
732,105
875,735 -16.4
509,293
829,743 -38.6
682,981
669,655 +2.0
576,854
676,997 -14.8
600,000
689,000 -12.9
497,915
558,908 -10.9
416,327
551,818 -24.5
358,152
425,791 -15.9
383,665
432,380 -11.3
316,058
370.121 -14.6
384,724
346,702 +11.0
510,410
340,893 +47.5
376,096
335,184 +12.2
359,799
353,377 +1.8
170,021
190,061 -10.5
162,804
116,945 +39.2
54,871
35,000 +56.8
254,051 Not Included In total
$
194,908,453
24,837,850
14,450,909
11,725,297
8,298,354
6,554,773
5,335,400
3,822,857
2,745,783
2,301,027
1,581,117
1,424,914
865,578
747,337
703,441
737,685
487,817
453,000
646,464
438,495
359,008
342,446
333,681
318,183
333,495
259,874
236,856
219,578
128,028
$
134,945,142
22,540,100
12,755,728
10,684,852
7,379,768
5,778,200
4,668,300
3,559,245
2,587,970
1,953,347
1,599,084
1,505,687
788,316
782,556
771,413
712,387
528,132
604;000
582,497
380,709
316,929
352,149
307,106
308,881
292,032
300,666
235,120
264,272
86,442
314,093,004
349,100,471 -10.0
285,597,881
267,571,031
30,707,717
40,797,339 -24.7
10,208,805
11,406,735 -10.4
7,550,389
9,468,238 -20.3
7,138,655 -21.5
5,593,191
5,191,904 -8.1
4,773,483
5,581,415
5,531,054 +0.9
4,116,874
4,868,043 -15.4
1,291,990
2,570,511 -49.8
762,832
783,671 -2.7
449,370
444,534 +1.1
406,512
528,126 -23.1
452,000
437,290 +3.4
849,386 Not included In total
Not included In total
Not Included In total
253,194 Not included in total
166,045 Not included In total
29,404,159
9,410,553
8,384,247
4,648,360
4,820,777
3,755,097
3,787,786
3,000,000
709,827
427,257
30,557,125
8,830,423
4,847,498
4,073,505
3,313,625
2,943,444
3,249,831
305,065
193,863
723,614
444,809
.
Total Pacific
71,894,578
89,166,450 -19.4d
68,653,128
59,177,737
Kansas City__ _
Mlnceapolls __.Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
Topeka
Davenport
Pueblo
Colorado Springs
Cedar Rapids__ _
Fremont
32,883,180
16,110,329
11,183,035
9,533,036
7,400,000
5,700,000
3,002,993
1,861,727
1,487,722
1,097,644
1,066,526
1,181,655
486,284
700,236
735,501
255,032
30,667,800
21,870,896
10,660,513
8,868,458
7,809,099
6,407,414
2,907,051
2,028,083
1,555,806
1,325,227
945,658
781,402
623,362
487,670
549,460
243,262
+7.2
-26.3
+4.9
+7.5
-5.2
-11.0
+3.3
-8.2
-4.4
-17.2
+12.8
+51.2
-22.0
+43.6
+43.0
+4.8
21,858,609
15,220,441
9,992,459
7,425,754
5,639,813
5,039,423
2,337,674
1,753,083
1,137,912
1,353,804
898,762
834,206
473,244
524,529
550,319
241,573
20,950,488
14,295,759
7,935,700
5,969,996
5,806,245
4,427,374
2,358,914
1,529,212
1,090,877
Tot. oth.West.
94,735,100
97,731,161
-3.1
75,281,805
67,697,013
St. Louis
New Orleans
Louisville
Houston
Galveston
Richmond __ _
Atlanta
Memphis
Fort Worth
Nashville
Savannah
Norfolk
Birmingham
Mobile
Jacksonville ..._ _
Knoxville
•Chattanooga
Augusta
Oklahoma
Little Rock
Charleston
Macon
Beaumont
Wilmington, N.C
Columbus, Ga..Austin
Vicksburg
56,453,379
13,960,794
10,788,546
9,302,675
6,200,000
5,324,523
3,709,668
3,744,285
4,814,924
2,886,458
2,918,839
1,925,948
1,648,135
964,833
1,321,413
1,341,394
1,370,000
1,225,125
1.008,003
1,101,923
1,149,241
577,561
547,881
295,000
270,000
60,470,035 -6.6
54,831,782
17,164,457 -18.7
15,208,320
12,663,428 -14.8
11,999,280
12,242,602 -25.1
8,421,425
7,300,000 -15.1
5,631 500
5,845,124 -8.9
5,223241
4,526,187 -18.1
3,748,624
4,306,445 -13.1 • 3,734,962
3,274,604 +47.0
2,393,034
3,552,275 -18.7
4,551,230
3,056,732 -4.5
4,522,031
2,778,382 -30.7
2,311,409
2,306,444 -28.5
1,840,826
1,447,915
1,447,387 -33.3
1,233,338
1,457,534 -9.3
1,569,904
1,617,635 -17.1
1,155,422
1,371,998 -0.1
1,464,376
1,336,216 -8.2
700,000
1,050,568 -4.1
999,778
1,303,33:3 -15.5
1,194,797
1,284,500 --10.5
469,684
575,000 +0.4
+7.1
450,000
511,521
480,000 -38.5
600,000
250,000 +8.0
245,872
Not included In total
239,022 Not Included in total
58,387,198
16,487,675
11,125,160
5,991,716
4,587,500
4,570,131
2,804,012
4,202,908
2,169,381
2,690,118
2,904,311
1,817,831
1,271,707
959,092
1,111,218
985,081
899,487
1,426,940
1,1)-5-8;
624,298
381,574
621,714
460,000
166,520
--8:15;707
1,061,844
421,569
400,000
208,357
Total Southern 134,851,348 152,354,407 -11.5 136,038,700 127,328,743
_ ___---Total all
2,604,806,706 2,767,405.995 -5.9 2,654,484,702 2,737,766,655
Outside N. Y..
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
Calgary
St. John
Victoria
London
Edmonton
997,779,578 1,111,319,893 -10.2
988,676,583
£11-(T,T)72,074
28,456,576
21,389,735
10,501,730
3,456,500
2,953,444
2,175,894
1,997,655
1,388,207
1,158,049
1,254,287
1,232,763
1,086,837
662,731
31,745,000
19,801,831
13,054,806
3,845,100
3,059,166
1,931,500
1,888,004
1,500,437
1,474,004
1,323,522
1,271,200
1,079,917
889,591
-10.3
+8.0
-19.6
-10.1
-3.5
+12.6
+11.7
-7.5
-21.4
-5.2
-3.0
+0.6
-25.5
21,968,895
18,995,782
9,375,291
2,038,638
2,010,358
1,451,517
1,916,783
1,198.575
676,726
1,036,531
838,271
967,108
21,927.717
15,866,762
4,729,776
1,277,285
2,176,516
1,278,398
1,352,310
1,542,131
77 71A 400
29 7.4.1 192
..-R 1
149 479 47A
A9 419 ARA
884,679
610,274
766,241
150,005,861
,
rntol OnnnAn
THE CHRONICLE
1304
_REMOVAL NOTICE.
As previously announced, "The Chronicle" is
now issued from its new home, corner Front,
Pine and Depeyster Streets.
STATE AND CITY SECTION.
With to-day's issue of the "Chronicle", we send to
our subscribers a new number of our "State and City"
section revised to date. The editorial discussions in
the same embrace the following topics: "The Municipal Bond Sales of 1907" and the "Investments of the
New York Savings Banks."
THE FINANCIAL SITUATION.
We are nearing one of this nation's most trying
events, and it is no surprise that a more than usual
state of industrial unrest should prevail. It is no
ordinary election of a Chief Magistrate that' confronts
us. Both parties to the questions at issue feel as if
the nation's future were at stake. The pregnant
casualty will soon have come and passed. An overruling Providence always has been heretofore, and is
still, in control, and will bring us through and out of
the clouds and threatenings which seem so ominous
to many now, though our ideas of what is best and our
hopes of a glad fruition may be buried in the results.
There have been numerous occasions in our history,
when no worse a situation than the present has been
looked upon as a final decadence, which have been
succeeded by what we are accustomed to call many a
happy accident. So may it be on this occasion.
Within the current week there have been prominent
incidents affecting the near-by markets. One of these
is the suit brought by the Federal Government against
the New York New Haven & Hartford Railroad Company to disrobe it of its trolley lines and deprive it of
its ownership of the stock of the Boston & Maine Railroad Company. This action had a highly important
influence because it was wholly unexpected—in fact,
more than that, because the belief prevailed of an
assurance given by Government officials that no legal
proceedings would be taken against that road under
the Anti-Trust Law. As to the trolley lines, the
people of Connecticut have seemed to be satisfied with
the ownership of at least the lines within their State
of a trolley character. It should be said that the
Federal authorities deny than any such assurance as
claimed had been given. Whatever, though, may
be the truth as *to these questions of fact, there is no
doubt that the beginning of the suit was a surprise
to the public, and had an unfavorable influence on
market values. It is quite like the now existirig
Administration that it should choose to go out of
office with a fair amount of display and a stir of
hubbub.
This spirit is being exhibited in other conspicuous
directions; notably, in the proceedings of various sorts
by Government officials which have together been
disturbing factors from time to time during the week.
The beginning of the taking of the testimony in the
Coal Trust suits is a proceeding of that nature; the evidence was begun Monday before Charles Lewis, an
attorney appointed by the United States Court in the
matter of the anthracite coal combine, charging control of prices and other violations of the Sherman Anti
Lxxxvi.
Trust Law. It seems that the matter brought up
Monday was, as stated, to learn the attitude of the defendants as to furnishing the needed _information in
relation to their affairs. The lawyers present declared
that they would furnish the Government with whatever existing facts the Government wished. The
Pennsylvania Railroad was asked to furnish the names,
capitalization dnd location of coal companies controlled
by the road. On Monday the Department of Justice
also agreed .with the'coal-carrying roads that the case
involving the provisions of the law which requires
railroads owning coal properties to dispose of their
holdings before May 1 shall be heard before three Federal Judges in Philadelphia June 16. In accordance
with an understanding with the Department of Justice, the case will be tried upon an agreed state of
fates, and no prosecutions will be begun against the
. ds directly interested in the suit until a decision
railroa
of the Court has been reached.
The features of the Aldrich-Vreeland currency
compromise excite, of course, criticism; but the fact
of an agreement on some kind of an, emergency
currency bill is thought to have been desirable if not
necessary, and hence that result is looked upon as a
decided advance in clearing up the derangement which
has existed in affairs. It is to be remembered that
the life of the Act is limited to six years; so if it proves
less advantageous than hoped for, and cannot be
corrected by amendment, its extinguishment after a
comparatively brief trial will come about as a result
of the legislation now about to be perfected. Another
leading incident has been looked upon as in a measure
clearing up the situation—that is, the developments in
the Gould properties,signalized by a decline so material
in Missouri Pacific Thursday as to unsettle the whole
Stock Exchange list of properties. There was good reason
for this decided drop in Missouri Pacific. No statement of earnings had been made public for months, but
on the day mentioned a report covering the period
from July 1 to March 31 was given out, indicating that
the company had only earned 2.89% on its $80,000,000
of stock for the nine months, making it evident that
the earnings for the full year would probably not be
sufficient to keep up any dividend. This fact and the
anticipated reorganization of the Wabash-Pittsburgh
Terminal Co. explain the abrupt drop in the Stock
Exchange value of the Missouri Pacific.
The most notable incident of the week was the reduction on Thursday in the rate of discount by the
.This action
Bank of England of M of 1% to
is the more notable because it has been so long deferred; the tendency of the London discount market
having, for several weeks, been so'unmistakably downward, as indicated by the gradual lowering of the
unofficial rate, as to make it improbable that the
higher official rate could much longer be maintained.
There seems to have been much reliictance manifested
by the Bank's Governors to lower its rate while the
German Reischsbank maintained the maximum official rate of 5%, and, moreover,while the outside rate
was so high at Berlin as to attract gold not only from
the Bank of'France but from New York. Apparently
the Bank of England Governors were awaiting a reduction by the Reischsbank before taking action in
the matter; meantime the Bank of England lost con-
MAY 30 1908.]
THE CHRONICLE
1305
Treasury by disbursing
trol of the open market and in order to recover such result of the return to the
but it is now expected
control it has now been forced to make the reduction. officers of unexpended balances;
current fiscal year
the
that the total deficiency for
tions at the
appropria
A bond negotiation of some interest to Paris bank- will exceed 70 millions. The
unpreceare
Congress
Sixtieth
ers because it is to be undertaken, according to the first session of the
available
become
will
that
"Economist European," by four of the largest of the dentedly large; hence those
the new fiscal year will draw
private banks in that city, is the financing of an issue at the beginning of
cash balance, making it
of 20 million dollars by the Credit Foncier Egyptien, heavily upon the Treasury
to be made soon after
have
will
which issue is secured by the capital of the bank and probable that a call
50 millions of public
about
of
1
the
for
surrender
by mortgages on property in Egypt bearing 7@,9% July
and also to provide
balance,
to
reinforce such
interest. This negotiation is regarded as preliminary funds
of the 64 million
portion
on
of
some
for
the
redempti
to the general reorganization of Egyptian finances
Aug. 1. As has
mature
will
War
which
bonds
Spanish
(involving larger borrowings) made necessary by the
public funds,
of
recalls
with
case
the
previous
been
absorption of the reserve fund and principally by the
e to offset, to
contribut
will
deficits
Treasury
however,
recent decision of the International Court of Appeals,
the- banks.
from
namount
withdraw
the
extent,
some
Egyptian
which declares that all corporations with
eventually
will
Treasury
the
that
be
observed
may
It
Egypt
directors and capital having head offices in
the
through
its
cash
balance
for
relief
some
obtain
be
and only a Secretary's office in Europe, cannot
whose
banks,
ng
currency-emitti
by
ement
reimburs
are
recognized as foreign corporations, and as they
the general
not Egyptian corporations, they ,have no corporate notes have been currently redeemed out of
of rethe
process
in
so
advanced
money
the
of
fund,
existence whatsoever.
demption. The notes which have thus far been reThe direct export this week of $500,000 gold to deemed amount to about 61 millions, while the 5%
therefore
Switzerland, said to be the first on record, attracted redemption fund is deficient 73- millions;
ed the
reimburs
not
have
which
banks
ting
note-emit
the
attention because it seemed to indicate the possibilty
redempcurrent
to
incident
advances
its
for
Treasury
of further exports thereto,with the object of profitably
n of the
remitting American gold, as it is being remitted to tions, and have not kept intact their proportio
the asin
delays
through
,
--because
on
fund
redempti
Paris and to Berlin. The Swiss bank offered inducenot
have
ns
requisitio
notes,
redeemed
the
of
sorting
of
form
ments to the New York exporters in the
to
have
—will
Treasury
the
clue
sum
the
for
made
been
it
was
while
interest at the Swiss Bank on the gold
68
about
of
amount
nt
the
the
Departme
to
over
pay
amount
the
with
in transit, crediting the consignee
nt of the redemption account.
exported on the day when the shipment was effected, millions in adjustme
presumedly be largely effected
will
payments
Such
by
adopted
been
has
thus pursuing the policy which
note-emitting banks upon their
the
by
drafts
through
therelikely,
the German Reischsbank. It is thought
therefore, the progress
fore, that so long as this policy shall be pursued by New York correspondents;
banks in adjusting their
the Swiss Bank,not only may the movement to Swit- which will be made by these
probably be watched
zerland Continue but other banks in the smaller States indebtedness to the Treasury will
of Europe may take advantage of the opportunity with much interest.
It may be noted that on and after July 1 the new
which is now offered for the procurement of American
maintain a
gold and attract the metal through similar devices. State law requiring trust companies to
will
thereof
It may be noted that, according to late advices, the cash reserve on deposits equal to 10%
cash
the
in
of 5%
official rate of discount of the. Swiss Bank is 4%. At become effective. This increase
is estimated, call for
it
will,
ns
institutio
these
of
reserve
is
rate•
the
Ainstetdam and at Brussels
in the cash ,holdings
Vienna and at Madrid it is 4 2% and at Copenhagen an addition of about 30 millions
date; this sum is, how6%; the Italian, Portuguese and Spanish 'banks also of these concerns on the above
excess cash reMaintain comparatively high rates of discount and ever, partly provided by the 1 29-100%
so large as
not
is
r
it would Cause no surprise if consignments of American serve now held, and the remainde
to affect
banks
the
gold were shipped to some of these cities before the to cause its withdrawal from
loanable supplies in the market.
present movement'terminated.
by
sale
prompt
the
week
was
the
of
One incident
As noted above, Congress, contrary to expectation,
J. P. Morgan & Co. of 16 millions of an authorized
come without passing
issue of $300,000,000 fifty-year Chicago Burling- has not allowed adjournment to
currency. With the
y
an
emergenc
ton & Quincy 4% bonds, for Which 16 millions sub- a bill providing for
their views, it took
in
apart
scriptions amounting to about 50 millions were two Houses so widely
conferrees to reach
the
of
part
received; on the curb the bonds were largely traded in considerable skill on the
the end
meetings
many
after
an agreement, but
at 96%@98.
shape it
the
in
measure
The
sought has been attained.
is satisas
such
and
se,
compromi
a
is
It is expected that the amounts representing sur- finally assumed
review
to
hope
shall
We
side.
neither,
to
renders of public deposits which have been made by factory
text
full
its
when
week
at
another
length
law
the depdsitory banks by reason of the recent call of the
the
see
to
possible
is
it
and
available
become
the Secretary- of the Treasury, will ere long to a large shall
been
have
s
provision
what
and
used
-language
extent be returned to the banks through the dis- precise
that under the conbursements by the Government, which are now in retained, but wish to note here
features of both the
e
t
distinctiv
the
agreemen
excess of revenues. This deficit is steadily increasing, ference
remain. As far
Bill
Aldrich
the
Bill
and
Vreeland
and it is thus far in th'e fiscal year more than 6314 milin, the daily
accounts
the
from
out
make
can
we
as
lion dollars. In June, judaing from previous years,
s of the
provision
the
under
possible
be
will
it
papers,
there may be a smaller deficiency than in May, as the
•
1306
THE CHRONICLE
[VoL. Lxxxvi.
new Act to take out emergency currency in two separ- by Mr. Hepburn. Last autumn, banks with
ample
ate ways. In its individual capacity it will be possible capital, good management and abounding in
liquid
for a bank to get the new notes (provided it fulfills cer- assets representing the best credits of the country,
were
tain requirements and conditions) on a deposit of State obliged to suspend currency payments because, by
and municipal bonds in the manner notes are now is- reason of the hoarding practiced, not enough circulatsued on the deposit of United States Government bonds. ing medium was available to meet the exceptional
Acting in conjunction with other banks, it will be demands that had developed. As Mr. Hepburn well
possible also for an institution to obtain notes on says, the new law furnishes an emergency currency
the pledge of general assets, including commercial which will save them that humiliation
in the future
paper of limited'periods of maturity. Very properly, and will mitigate the loss which
the public as well as
the designation "National Clearing Houses," which by the banks suffered in consequence
of the suspension
the Vreeland bill it was proposed to give to the of currency payments.
organizations to be formed for the purpose of collective
action on the part of banks in taking out the notes
The difference between promise and performance
based on commercial assets, has been changed, and a in the political world is well
shown by what is tranname adopted which accurately describes the character spiring at the present time in
the City of Cleveland.
of these organizations, they being now termed "Na- For years Mayor Tom Johnson of
that city had been
tional Currency Associations."
a great power in political affairs. He was elected over
The extent to which the permission granted to take and over again, and seemed to be daily
increasing in
out additional notes in either one or both the ways in- popularity. His sole capital was his
antagonism to
dicated is likely to be availed of must remain for the local traction interests. He was working
to get for
future to determine. The general disposition has the local residents lower fares and kept
incessantly
been to condemn the distinctive features of both the telling them how much better off they
would be if
two bills which have now been welded into one. But only the municipality could take over
these trolley
we notice that the critics do not agree among them- lines and operate them in the interests
of the whole
selves. Each has a different objection to urge and community, instead of their being operated for
the
this encourages the hope that possibly we shall all be benefit of the stockholders, as represented by private
surprised in finding more of good in the measure than capital. He made strenuous efforts to get possession
had been supposed possible. Of course - the result of these local lines with that end in view. The owners
can only be determined by the event itself. We notice fought determinedly against having their property
that Mr. A. B. Hepburn makes the point against the virtually confiscated, but finally, when Mr. Johnson
bill that "the heavy tax, ranging from 5% to 10%, last autumn again triumphed at the polls, and
it
the redemption fund requirements and other necessary seemed as if he might remain enthroned indefinitely
expenses, will preclude the possibility of using the cur- in the Mayor's chair, they in effect threw up
the
rency except when money commands a very high rate." sponge. After much further parleying with the ownThis point is obviously well taken. But should the ers, Mr. Johnson at length accomplish
ed his purpose
measure be condemned on that account? Is it not and acquired the lines on terms
deemed exceedingly
rather a good feature that the tax is made high favorable to the city and
the reverse to the owners.
enough to ensure the return of the notes after they Mr. Johnson had attained
his goal. The lines were
have served the purpose for which they have been now "the people's," and
three-cent fares were estabcalled into being? With permission to emit half a lished.
billion of new notes in this manner (this being the
If, at this juncture, a merciful Providence had remaximum fixed in the bill), could the measure be moved Mr. Johnson from the
scene, he might have redefended if the tax should be left so low that there mained a popular hero. But no
such good luck was
was no inducement for calling the bills home, thereby in store for him. With the
city in possession of the
presenting the possibility that they might become trolley properties, Mr. Johnson
was called upon "to
the basis for a widespread speculation. Besides, what make good." Troubles for
him began almost the movalid reason can be urged for allowing the creation of ment the city took possession.
The public had been
such a mass of notes except when interest rates are educated to expect much.
They were getting little.
high, and hence an actual need exists for a larger Instead of the service
being improved, it became
volume of bills.
worse. The traveling public began to grumble, and
It seems to be thought that the new notes will not intimations came that they would prefer to pay
the old
come out except at thetime of a supreme crisis like that rate of fare and get
decent service. They were told
which developed last October and November, thus to be patient; that the people themselves now
owned
advertising the fact that the occasion is an extraor- the trolley lines, and soon the benefits would
be apdinary one; but here, too, views may prove mistaken, parent to every one. Confronted with
the necessity
for it is easy to conceive that in a period of great trade of making both ends
meet, the new management also
activity, resort to the provisions of the new law might found itself obliged to discontinue operating
non-paybe had during the crop-moving season; and when once ing lines. That made
more trouble. Then came difsteps in that direction had been taken, and been ficulties with the employees, who wanted
more money
attended with success, we may be sure the operation and who went on a
strike when the request for increased
would be repeated at the next crop-moving season, pay was refused, thus
paralyzing street railway operaor at other periods of the year, though it must be ad- tion. The "Cleveland Finance"
says that Mr. Johnmitted that the contrivance for the issue of notes son has not lived up to his promises
in any respect.
through the instrumentality of National Currency Instead of three-cent fares,
he is giving three, six, nine
Associations is an exceedingly clumsy one. One and eleven-cent fares. Instead
of universal transfers, he
merit the new law will possess. This is referred to has eliminated over twenty-five
transfer points. In-
MAY 30 1908.i
THE CHRONICLE
stead of more frequent service, the interval between the
cars has been lengthened,and instead of carrying out
the contract made by the Cleveland Electric Street
Railway with its employees, he is discharging the
three-year men and hiring men at much lower wages.
Moreover, "Finance" says that were he now a candidate for Mayor, he would be defeated by 20,000 votes
—which seems quite likely.
There is a useful lesson in all this. For years blatant
demagogues all over the United States have been criticising street railway management,and have been telling the public how much better things would be when
the public came"into possession of its own". In Cleveland the experiment has been made, and we see the
result. It is one thing to criticise the acts of others,
and quite another to be called upon to do the same
work better ourselves. The experience of our Public
Service Commission has been much the same. Great
thing§ had been expected of this new body. They devoted themselves first of all to the Brooklyn Bridge
"crush," but the crush still remains unrelieved, except so far as the opening of the tunnel to Brooklyn,
as the outgrowth of private endeavor, has reduced
the pressure. Then they devoted themselves to the
trolley lines, with the result that practically all the
surface lines in Manhattan Borough and the Bronx
are in receivers' hands, and that a large portion of the
free transfer privileges previously enjoyed by travelers has been cut off by order of the courts—the receivers having notified the court that they could not
pay wages and buy supplies with transfer checks. If
these experiences shall lead to the development of a
more tolerant spirit towards public service corporations
managed by private enterprise, the harm and suffering entailed through the assaults of recent years will
not have been without compensating advantage.
The grain crop situation in the United States, notwithstanding some unfavorable developments during
the month, is on the whole quite satisfactory as May
closes and certainly much better than at the same
time a year ago. In May of last year, it will doubtless
be remembered, all growing crops were adversely
affected by weather conditions to an extent greater
than the average; this year there has, of course, been
deterioration, but hardly more than in what might be
called a normal season. It follows, therefore, that
the June 1 outlook is decidedly more encouraging this
year than it was a year ago. As regards winter wheat
the bulk of the advices go to indicate that it has in
the main done well during May, and over at least part
of the belt an early harvest is anticipated. From
some counties in Kansas there are reports of damage
by rust and insects; drought has been complained of
in another portion of the State and rain in southern
districts. Yet Kansas as a whole is counted upon for
a materially larger product than in 1907. Floods
resulting from the heavy rains of last Saturday and
Sunday, as well as the excessive moisture itself, have
reduced the promise in Oklahoma and Texas, and
minor occurrences of an adverse nature have been reported from various localities. But taking the area
as a unit, the consensus of opinion seems to favor a
crop much larger than that of last year.
Corn planting has progressed under varying conditions in different sections of the country. East of the
Mississippi River and more particularly in the Lake
1307
region, seeding has been delayed by unpropitious
weather, but in the far West, as a rule, work has gone
ahead under favoring conditions, being completed in
early sections, and at many points good stands have
already been secured. The heavy rains in the Southwest, and in some sections elsewhere, at the close of
last week caused further delay or necessitated replanting over quite an extensive area, but with the
ground in excellent condition there is ample time,
with favorable weather, to plait all intended area.
Furthermore, and unless indications are misleading,
the acreage finally put under corn will be moderately
greater than a year ago, but as to the ultimate yield,
it is for the future to determine.
The oats situation, so far as we can learn, is at this
time rather mixed. So good an authority as the "Cincinnati Price Current" reports the acreage sown as
smaller than intended, owing to unfavorable conditions at time of seeding, and the progress making as
only fair. That journal, however, premises that with
warm, dry weather, a more encouraging showing is
possible later on. But with mything like normal
conditions of weather,during the. growing season, it is
highly probable that oats, as veil as all other crops,
will give a better yield than \,hat of the rather disastrous year 1907.
The wheat outlook in Canada According to current
reliable advices, very encouraging. Weather conditions during the sprouting season seem to have been
especially satisfactory, giving the crop •an excellent
start, which, with the considerable increase in area,
should, with average conditions from now on, insure
a marked augmentation in yield. A notable fact in
this connection is the statement of the Canadian Minister of the Interior that seeding in the Province of
Alberta was finished nearly a month ahead of last
year, and that farming operations all over the Canadian West are far advanced.
Latest reports from abroad indicate that in the
United Kingdom, France, Italy and Spain, crop conditions have recently improved, and that in Germany
the promise of both winter and spring crops is excellent. In Russia, Roumania, Bulgaria and Turkey,
on the other hand, damage from drought is either
stated to have occurred, or is feared. The Argentine
corn crop is returning a better yield than anticipated.
The latest official estimate of yield of wheat in India
this year is 212,000,000 bushels, as against 315,386,000
bushels in 1907. The crop,as estimated,is the smallest
since 1900, when 200,000,000 bushels were returned
as the product of the country. Reviewing the world's
grain crop situation pro and con, there would seem
just now to be no special reason for disquietude. The
current promise may not be for bumper crops, but
the outlook is reasonably good for an aggregate yield
of grains quite measurably greater than a year ago
and a consequent replenishment of the too greatly
depleted surplus stock.
The new wage agreement entered into between the
Textile Council (the operatives' organization) and the
Fall River Cotton Manufacturers' Association became
effective on Monday of the current week. As stated
last week, the agreement entailed upon the operatives
a cut in wages of 17.94%, the new price per cut for
weaving being 19.66 cents, or 4.30 cents per cut less
than the rate prevailing since May 1907. The new
1308
THE CHRONICLE
scale is to remain in force until November next: Following the ratification of the agreement, Mr. M. C. D.
Borden, who, while not a member of the Manufacturers' Association, generally acts in concord with it,
posted notices of a similar reduction (17.94%) in the
wages of the Fall River Iron Works Company's mills,
effective May 25, and at the same time announced
the immediate resumption of full-time working. The
resumption of full time concurrent with the reduction
of wages has also been the feature at some other points,
and it is reported to be the intention of all the corporations at Fall River to adopt the same course as soon as
practicable, thus off-setting to a material extent the
effect of the reduction in wages. With the cuttingdown of wages at Fall River and elsewhere this week,
-the number of operatives thus affected this spring is
not far from 200,000. It is to be regretted that the
necessity for a cut in wages existed, but with the lower
, prices for goods, comparatively high cost of cotton,and
poor trade, it was inevitable, and wasso recognized by
the operatives. At the same time, the new wage scale
is above the average of the compensation of recent
• years, and the very amicable manner in which the
adjustment was reached will go far towards preserving
a true entente.cordiale between employer and employee.
With the exception of the reduction, as elsewhere
noted, by the Bank of England of its rate of discount
from 3% to 23/2%,there was no change in official rates
by any of the European banks this week.
•
• The New York bank statement of last week showed
as the most striking features of actual conditions a
reduction of $4,806,200 in cash, largely due to gold
exports, an increase of $11,209,500 in loans and of
$15,657,600 in deposits. The reserve decreased
$8,720,600, to $55,280,625, as the result of the loss
of cash and the increase in reserve requirements.
Compared with the previous week public deposits
decreased $3,102,600, reflecting surrenders of such
deposits by New York depositories in anticipation of
the maturity of the second installment of the April 28
call for public funds. Owing to the fact that Saturday
of this week is a holiday, the bank statement was issued
on Friday. The principal changes in actual conditions,
compared with those of last week, were a decrease of
$11,359,000 in cash, due largely to gold exports and
withdrawals of public funds, which withdrawals
amounted for the week to $8,679,400. The decrease
in reserve was $9,017,675,to $46,262,950surplus;loans
decreased 14 2-3 millions and deposits 12 4-5 millions.
Though the New York banks lost 14 millions to the
Treasury during the week, largely as the result of surrenders of public funds that were required by the
call of April 28, and though there was a further loss
of 5 millions on account of exports of gold to Europe
and transfers to Montreal, the market for money was
not in the least affected. The rise in the rates for
domestic exchange at interior points indicated a continued movement hither of unemployed balances,and
now that the requisitions by the Treasury for public
deposits have been met, the excess disbursements by
that department over revenues, constituting fiscal
deficits, will contribute to increase supplies of money
from that source—that is, the interior. The feature
of the time-loan branch of the market this week was
an improvement in the demand for over-the-year
[VOL. Lxxxvi.
money, and another feature was the negotiation of
sterling loans, that will mature in January, at a
guaranteed rate of 43.1%,while domestic loans for this
maturity were quoted at 43'@4%%.
Money on call, representing bank and trust company
balances, loaned at the Stock Exchange during the
week at 19 ®1M%,averaging about 1%%;the abovementioned institutions loaned at 13/2% as the minimum. Time loans on good mixed Stock Exchange
collateral were DA% for sixty day and 2%@3% for
ninety days, 3@34 for four months, 33'% for five
months, 332@,3% for six months and 431@432% for
seven to eight months. Commercial paper continues in
good request for the best names and there are. no
accumulations, offerings being promptly absorbed.
Rates are 3Y
1@4% for sixty to ninety-day endorsed
bills receivable and 4@432% for prime four to six
months' single names.
The Bank of England reduced its rate of discount
this week from 3%, at which it had stood since March
19, to 23/2%. The cable reports discounts of sixty to
ninety-day bank bills in London 1%. The open
market rate at Paris is 1%
7 @2% and at Berlin and
Frankfort it is 3%%. According to our special
cable from London, the Bank of England gained
£103,220 bullion during the week and held £37,674,499
at the close of the week. Our correspondent further
advises us that all but £2,000 of the gain was due to
receipts from the interior of Great Britain. The
details of the movement into and out of the Bank
were as follows: Imports £82,000 (wholly from
Egypt); exports, £80,000 (of which V5,000 to
South America. and £5,000 to Gibraltar), and receipts of £101,000 net from the interior of Great Britain.
Though the foreign exchange market reflected, in
firmer rates for long and easier quotations for short,
early in the week the prospects for a reduction in the
Bank rate,as indicated bylower open market discounts,
the tone grew firmer all around towards the middle of
the week. One reason for this firm tone was a
demand to remit for stocks that had been sold for
European account as the result of the liquidation in
our stock market; another reason assigned was the inquiry to cover over-sold exchange, such selling having
been encouraged by the expectation that continued
gold exports would contribute to a supply of reimbursing bills, and hence to lower rates. The large
purchases of grain for export and the announcement
of contracts for corn and wheat shipments in considerable amounts were important factors influencing
speculative selling of exchange. The gold exports
directly to Switzerland, in consequence of inducements
offered by the Swiss Bank,and further engagements
of gold for Berlin which were stimulated by similar
inducements, seemed clearly to show that such transfers of gold abroad were not dependent upon the
exchange situation; hence speculative sales of exchange
based upon these gold exports appeared likely to be so
hazardous as to make desirable prompt covering of
such contracts. The statement that there had been
the negotiation of sterling exchange loans, maturing in
January, was regarded as simply an incident of our
monetary situation, and it was thought unlikely that
any considerable amounts of such loans would be
effected while there is such a narrow margin between
MAY 30 1908.1
THE CHRONICLE
1309
The following gives the,week's movement o fmoney
domestic and foreign loans as was indicated by the
reported transaction. Possibly, later in the season— to and from the interior by the New York banks,
or, perhaps, next month, if relative rates for money
Net Interior
Shipped by
Received by
Movement.
Week ending May 29 1008.
N. F. Banks. N. 1'. Banks.
here and discounts abroad shall be favorable for the
$8,690,000.
Currency
Gain
$2,741,000
$11,431,000
negotiation of loan bills, to be covered with the pro- Gold
400,000 Gain 1,680,000.
2,080,000
ceeds of commodity exports—there may be such Total gold and legal tenders
53,141,000 Gain $1,037,000.
$13,511,000
transactions in some volume. The future condition of
With the Sub-Treasury operations and gold ex—
the exchange market, upon which speculative or other
ports
the result is as follows.
will,
it
seems
depend
based,
probable,
operations are
wholly,
upon
relative
and
mit
monetary
largely, if
Into
Net Change in
Out of
Week ending M y 29 1908.
Banks.
Banks.
Bank Holdings.
discount situations; so far as those abroad are conBanks' interior movement as above- $3,141,000 Gain $10370,000
cerned, they can be readily forecasted for,they are Sub-Treas. oper. and gold exports-- $13,511.000
27,600,000
49,140,000 Loss 21,540,000
$41,111,000 $52,281,000 Loss $11,170.000
moving towards a low basis, while here the movement Total gold and legal tenders
appears to be in the direction of higher rates.
The following table indicates the amount of bullion
Gold exports this week were $4,995,000, of which in the
principal European banks.
all but $1,195,000 that was sent to Montreal was for
May 28 1908.
May 30 1907.
Europe; this makes a total of $35,510,000 exported Banks of
Gold.
Silver.
Total.
Silver.
Gold.
Total.
abroad and $3,695,000 to Montreal since the move£
1
.6
.c
ment began in April. There appears to be a good England— 37,674.499,
37,674,499 35,237,110
35.237,110
France _- 121.318,4391
158,002,610 105,886,050 39,553,667 145,439,717
inquiry for gold at Paris; this is indicated by the Germanys 36,370,000i 36,684,171
15,073,000 51,443,000 35.157,000 14,083,000 49,240,000
Russia d__ 111,400.000 7,586,000 118,986.000 116,071,000 6,295.000 122,366,000
Aus.-Hunb 46,758.000 13,335,000 60,093,000 45,644,000 12,732,000 58,376.000
competition by French bankers for the Cape gold, Spain.
---- 15,576,000 26,577,000 42,153,000 15,499,000 25,528,000
----36,323.000 4,395,000 40,718,000 32,319,000 4,947,400 41,027,000
37,266,400
which is offered in London, these bankers this week Italy
Netheri'ds 7,700.400 4,315,300 12,015,700 5,329,800 5,599,200 10,929,000
Nat.Belga. 4,171.333 2,085,667 6,257,000 3.254,000 1,627,000 4,881.000
securing the bulk of the $3,000,000 that was sold. Sweden
- - 3,892,000
3,892.000 4,145,000
4,145,000
3,432,000
3,432,000 1,324,000
1,324,000
The German Reichsbank is still offering the induce- Switzland
Norway - - 1,493,000,
1,493,000 1,800,000
1,800,000
ments which were made last week, as then noted, for Tot.week.426.108,671 110,051,138 536,159,809401,665,960 110.365.267512,03122-7
Prey.week 423,929,356 108,927,765 532,857,121 399,042,617 109,037,166 508,079,783
shipments of the metal hence to Berlin, and there is
— --The division (between gold and silver) given in our table of coin and bullion
no evidence that the Bank's requirements have been in aShe
Bank of Germany and the Bank of Belgium is made from the best estimate
we are able to obtain; in neither case is It claimed to be accurate, as those banks
satisfied. So long as our bankers can derive profit make
no distinction In their weekly returns, merely reporting the total gold and
silver: but we believe the division we make Is a close approximation.
from the export movement, the gold will be forwarded
b The Austro-Hungarian Bank Statement is now issued in Kronen and Heller
instead of Gulden and Kreutzer. The reduction of the former currency to sterling
Pounds was by considering the Gulden to have the value of 80 cents. As the Kronen
• to whatever point it may seem to be needed.
has really no greater value than 20 cents, our cable correspondent in London, in
to reduce Kronen to Pounds, has altered the basis of conversion by dividing
• Compared with Friday of last week the exchange order
the amount of Kronen by 24 instead of 20.
d The total of gold In the Bank of Russia includes the balance held abroad—
market on Saturday was steady at a fall of 5 points for that
is. the amount held for Russian account in other Continental banks. The
proportion 80 held, and consequently duplicated in the above statement, is about
short to 4 8710@4 8715 and a rise of 5 points for cables one-luarter
of the total.
to 4 8735@4 8745; long was unchanged at 4 8525@
4 8535. On Monday long declined 10 points to THE POLITICAL REVIVAL IN THE FAR EAST.
The London "Spectator," calling attention to the
4 8520@4 8525 and cables 5,points to 4 8735@4 8740;
short was unaltered. On Tuesday long rose 10 points news of popular uprisings in various Asiatic countries;
to 4 8525@4 8535, short 5 points to 4 871044 8720, remarks that "the Western peoples will soon be comwhile cables fell 5 points to 4 8730@4 8735. On pelled to revise their ideas of the Eastern world:
Wednesday long was 15 points higher at 48540@48550, For centuries past they have thought of Asia as a
short 5 points at 4 87154,4 8720 and cables 15 points continent whose inhabitants are lost in apathetic
at 4 8745@4 8750. On Thursday the reduction in quietude. Now, however, one rarely sees a telegram
the Bank of England discount rate was refleeted from any country in Asia that does not record a dischiefly in a rise of 10 points for long to 4 8550@4 8560; turbance, sometimes of the most dangerous kind."
short was unchanged and cables were 5 points lower
In so far as this comment applies only to news of
at 4 8740@4 8745; on Friday the tone was steady at tribal insurrections, such as that lately reported from
a rise of 5 points for long and for cables; short was the Indian frontier, it can hardly be called.a novelty.
There have been periods when the spirit of unrest
unchanged.
The following shows daily posted rates for sterling seemed to spread suddenly throughout all these Asiatic
exchange by some of the leading drawers.
dominions. It has been said that the revolutionary
ideas which animated Europe in 1848 were largely
Fri., Mon., Tues., Wed., Thurs., Fri.,
May 22 May 25 May 26 May 27 May 28 May 29
reflected among the Asiatic peoples. The famous
60(lays 4 86
Brown
86
86
• 80
86
86
Sepoy Rebellion in India was only the most conspicuSight- - 4 88%
Brothers
88%
88%
88%
883-i
883i
60(lays 4 86
Kidder, Pea80
86
86
86
86
body & Co
Sight- - 4 883
88%
ous phase of a very general movement. Something
88%
88%
88%
88%
60 days 4 86
Bank British
86
86
86
86
86
Sight_ - 4 88%
- North America
88%
88%
88%
88%
88%
the same may be said of the Boxer uprising in China
Bank of
60 days 4 SO
86
86
86
86
86
Montreal
Sight- - 4 88%
88%
88%
88%
88%
88%
during 1900. In any Oriental community, especially
Canadian Bank
60 days 4 86
86
86
86
86
86
of Commerce
Sight 4 88%
88%, 88%
88%
88%
88%
those governed as dependencies of Eastern States, such
Heldelbach, Ickel60 days 4 86
86
86
86
86
86
heitner &Co- - - Sight- - 4 88%
88%
88%
88%
8855
88%
events are of constant occurrence.
Lazard
GO days 4 86
86
86
86
86
86
Freres
Sleht— 4 88%
88%
88%
88%
88%
88%
Merchants' Bank
60 days 4 86
There is, however, a phase of the unrest of Asia, as
80
86
86
86
86
Sight-- 4 88%
of Canada_
88%
88%
88%
883
88
reflected in the recent news, which has an important
The market closed on Friday at 4 8555@4 8565 for bearing on the political developments of the day.
long, 4 8715@4 8720 for short and 4 874044 8750 for We refer particularly to the demonstrations going to
cables. Commercial on banks 4 8520@4 8530 and prove a new demand among these Eastern peoples for
documentsfor payment4 843 @4 85 8. Cotton for pay- something like responsible self-government. The whole
ment 4 84,34@4 84%,cotton for acceptance 4 8520@ world was lately startled by the granting of something
4 8530 and grain for payment 4 854@4
1
85%
3.
like ,a parliamentary charter in Persia. That China is
passing through a remarkable change in this regard
1310
THE CHRONICLE
Locxxvi.
some real hand in
Is recognized by every one, though, with their accus- spectable working order and to be
of the Douma,
action
recent
One
legislation.
current
are
people
the
Chinese
reserve,
tomed self-contained
urging
Committee
Defence
of
National
the
report
the
the
of
change
signs
visible
and
letting only the outward
an
is
n,
illusconscriptio
pear to Western eyes. So of other communities in dif- the necessity of reducing army
t
independen powferent parts ofthe world,which will readily occurto mind. tration of the extent to which these
ill-advised remark
We suppose this development of the instinct of ers are invoked. The extremely
"Thank
Kokovseff,
self-government, in quarters where such aspirations of the Minister of Finance, M.
forth
distinct
were least expected, is a logical result of Japan's God we have not a Parliament," called
Russian
the
successes in the recent Eastern war. With full allow- repudiation from both the Douma and
Minisance for the traditions and prejudices which for cen- press, and led to a public rebuke of the Cabinet
turies have bound these Eastern nationalities to their ter by the President of the Douma.
In one respect these new developments among naown ancient social and political system, it is impossible
that the part played by free citizenship and representa- tions hitherto considered neither fit for self-govern
probon
bearing
tive government in the rise of Japan should be wholly ment, nor anxious to achieve it, have a
overlooked. It was not only Japan's achievements lems of our own. They certainly cannot be ignored
under
on the military side which impressed this lesson on in the case of Cuba, where the United States,
commitfor
its
,
pledge
is
redeeming
the Oriental mind. Immediately before the remark- great difficulties
of
able conflict between an Eastern and a Western nation ting the government fully and fairly into the hands
meaning
the
that
It
is
impossible
Cuban
citizens.
on the shores of Asia, there had occurred that singu- the
lar demonstration of the later nineties commonly of these various incidents should be missed in the matknown as the partition of China—a movement predi- ter of the Philippines. There, more than anywhere
cated on the assumption that the Chinese nation, else in the Eastern world,the problem of aspiration and
politically speaking, was dying, and that by establish- capacity for self-government is more vital than any
ing "concessions" on the coast for the European gov- other consideration of the day. Nothing would betand purposes of the United
ernments, the "sphere of influence" could be extended ter serve the larger interests
the
that
proof
people were showPhilippine
than
States
thence towards the interior on the plan pursued in
for
of their own afion
capacity
such
administrat
ing
Africa, until eventually the Chinese territory should
the
warrant
withdrawal by
should
gradual
as
fairsactually have been divided up into dependencies of
ties in
their
from
responsibili
e
people
burdensom
our
the Western Powers.
islands.
the
However differently tradition and experience may
have led the minds of Oriental people to work on
THE NEW HAVEN ROAD'S INTEREST IN
matters of government and social system, their reasonOUTSIDE PROPERTIES.
to
own
make
ing powers are sufficiently similar to our
last week by the United States Governaction
be
should
The
it certain that some definite conclusions
the New York New Haven & Hartford
against
by
these
assumed
ment
• drawn from the different attitude
Co.,
alleging that the company had violated
Japan.
towards
Railroad
and
intrusive Powers towards China
of the Sherman Anti-Trust Law in
provisions
would
be
reasoning
the
The logical conclusion from such
acquired
other
control of some 1,500 miles of electric
having
China
purpose,
no
that for self-protection, if for
the
in
States
of
of Massachusetts, Rhode Island
action
course
the
railways
must imitate in some degree
t,
place
its
Connecticu
attention to the legal diffidirects
Japan
remarkable
and
which had achieved for
snarls
and
into
the policy of aggrandizewhich
culties
among the nations.
by
definite
t in recent years
as
pursued
the
ment
draw
conclusions
managemen
It is yet too early to
The situation is a
this
this
new
of
idea
got
outcome
property.
important
precise
has
to what will be the
tantalizpeculiarly
e
is
unfortunat
what
point
interesting
specially
and
one,
most
The
in the case of China.
for
reason
good
is
any
it
that
new
national
vigor
perceive
on
to
is
difficult
take
ing
is that the movement to
invite
to
certain
was
of
a
adoption
like
nment
which
course
self-gover
the
something
through the exercise of
has become general in an unusual degree throughout the heap of troubles in which the corporation finds
the world. We have mentioned the case of Persia. itself involved.
As far as concerns the acquisition of the Boston &
The "Spectator," in the article to which we have reis
military
property, with the view to ultimate consolidation
caste
Maine
the
Turkey
in
ferred, notices that
demanding freedom from a tyranny that is at once with the New Haven, that is the one act that can with
military and sacerdotal. The change that has over- perfect sincerity be defended as being at once in the
taken the Transvaal region in South Africa is familiar. interest of the two properties themselves and of the
To many observers Sir Henry Campbell-Banner- general public, although the act has been most vigorman's grant of self-government to a colony, the ma- ously antagonized on behalf of the public. For, as
jority of whose citizens had been trained under the we have pointed out on a previous occasion, the two
dull and retrogressive organization headed by Presi- railroads so dovetail into each other that the question
dent Kruger, seemed an experiment of the utmost of competition between them on. any extensive scale
recklessness. It has, however, thus far resulted re- hardly 6omes up. The lines of the one supplement
markably well, and the course of events in the Trans- the lines of the other, and together they would form
vaal and Orange River Colony has proved that even a harmonious whole, capable of rendering transportathe Boer statesmen of the old regime are adapting tion service with increasing efficiency, and at the same
themselves with enthusiasm to their new powers and time admitting of economies of management • that
would make improved service entirely feasible from
responsibilities.
Russia, with all the handicaps which have sur- a fiscal standpoint.
We are not among those, therefore, who would
rounded its effort to achieve an independent Parliament, seems at length to have got its Douma into re- join in the chorus of condemnation now being visited
MAY 30 1908.1
THE CHRONICLE
1311
upon the company for this particular act, and which cause there the issue has already been dehas aroused public ire as has apparently none of the termined against it. Just two weeks before the auother numerous acts of the last three years in the thorities at Washington made public announcement
acquisition of outside properties. On the other hand, of their intention to begin proceedings against the comwe cannot understand why the head of a large corpora- pany, the Supreme Judicial Court of Massachusetts
tion of this kind should deliberately, as it were, have handed down a decision in a suit brought by the Ataffronted public sentiment in the acquisition of about torney-General of that Commonwealth, declaring that
1,500 miles of trolley road, thereby bringing down the company had exceeded its powers in acquiring
upon himself and the corporation he represents the control over the Massachusetts trolley lines, and holdpublic wrath, when the events transpiring elsewhere ing that, under Massachusetts law, the company could
from day to day had made it apparent that the move be restrained by injunction for having thus violated
would have precisely such a result.
the statute. In view of this decision, the action of the
It was particularly important in the case of the Federal Government seems rather unnecessary, and
New Haven road that due deference should be paid certainly is somewhat belated.
and full consideration given to the public feeling. The
Because of its importance, it will be interesting to
New Haven already held control of practically all the review this decision of the Massachusetts Supreme
steam railroads in the New England States south Court. The Massachusetts statutes provide that a
of the line of the Boston (S: Albany RR., and its hold railroad corporation, unless authorized by the General
on the steamship business of Long Island Sound was Court (which is the term by which the Legislature is
nearly as complete. To add also the trolley lines, and known in Massachusetts), or by certain provisions of
thus to establish at least the semblance of a monopoly in the statute not applicable in the present instance,
the three lines of transportation,was certainly an act "shall not directly or indirectly subscribe for, take or
of great daring. In the light of subsequent events, hold the stock or bonds of, or guarantee the bonds
however, does it not partake more of the nature of an or dividends of, any other corporation." The statutes
inexcusable act of folly, which cannot be defended on have been in force in one form or another ever since
sane and rational grounds? Mr. Mellen, certainly, 1874, and therefore are to be accepted as the declared
cannot have supposed that,with the public mind in the policy of the State. The New Haven Company,
inflamed state to which it had been brought by political however, undertook to act under Connecticut authordemagogues, no attempt to thwart the scheme would ity. The Massachusetts statute referred to relates
be made.
to railroad corporations established under the authorThus the acquisition of the Boston & Maine took ity of the Commonwealth and amenable to its laws.
the appearance of being simply one in a long • series It does not include foreign corporations. An importof acts of a like nature, all tending to put the New ant question came up, therefore, in the first instance,
Haven Co. in complete control of the different means namely as to whether the New Haven could be conof transportation in the whole of the New England sidered a foreign corporation. In other words,
section. Ifthe Boston Sc Maine proposalcould have been whether, by reason of the peculiarities of its organizapresented as an independent proposition—that is, tion as a corporation owning and operating a railroad
had there not been all the many preceding acts of extending into different States, and deriving power
aggression—it would have been viewed, we • believe, and authority from the legislation of different States,
with favor. The public would have recognized that it was relieved from the prohibition of the Massachusetts
a union of the two properties was a reasonable statute.
suggestion and likely to be attended with benefits
Judge Knowlton, however, in expressing the views
rather than the reverse. In the form in which the of the Massachusetts Supreme Court, points out that
proposition has actually been presented, it meant a the New Haven Company, while organized under a
totally different thing. It meant that the dominion law of Connecticut, where most of its property lies,
which the company purposed to exercise over the and where many laws affecting it have been enacted,
three forms of transportation—steam, electricity and was also established under an Act of the Legislature
water—in the lower half of the New England States, of Massachusetts, and has succeeded to rights and liawas to be extended so as to cover the upper half bilities, or has directly obtained rights and assumed
also, for the Boston Sc Maine controls the steam rail- liabilities, under numerous legislative Acts of Massaroad mileage in that part of New England about as chusetts. There was a consolidation of two corporacompletely as the New Haven does the steam railroad tions, says Judge Knowlton, into a single corporation,
mileage of the southern half of New England. Is it which was the creature of both States, operating a railat all wonderful, under the circumstances, that the road extending into both, having the same capital
•public has not readily acquiesced in the proposal, even stock to cover the property in both States, and electthough Mr. Mellen is prepared to show that ing its officers and managing its business as a single
manifold advantages would result, and disclaims corporation. Thus, there is nothing that makes it
any intention to do anything detrimental to public any more a domestic corporation in one of the States
interests?
than in the other. It is a foreign corporation in neither
It is not necessary to consider here whether the of them, he declares. It is a domestic corporation in
United States Government is likely to be successful each of them. In most of its features it is a single
in its suit against the company under the Sherman corporation. In other features it is two corporations
Anti-Trust Law. Considerable time must elapse, in acting together as one. It is a single corporation with
any event, before that step can be attended with any .t,wo parents who live apart and act independently,
results one way or the other. Meanwhile the each having absolute control in its own domain. It
management is confronted with a much more owes allegiance and is subject alike to each, and is
serious legal situation in another direction be- dependent upon each alike for future faN or. In other
1312
THE CHRONICLE
words, there was here a legislative consolidation or
merger of two corporations upon equal terms—not
mere permission to a corporation of one State to enter
another State and acquire property or franchises
there.
It is also pointed out that in the Massachusetts Act
permitting consolidation, it was distinctly provided
that the consolidated corporation should at all times
be subject to the Legislature of Massachusetts as to
that portion of its road in the State, and should
be subject to the general laws of the State as to its
whole road so far as such laws might be' applicable
thereto.
The New Haven Company had, relied to some
extent upon certain language in the Act of consolidation, and had contended that under it the State
of Connecticut could give the corporation franchises
and powers to be exercised, in Massachusetts which
other corporations in Massachusetts are not permitted
to exercise. This contention proved of no avail.
Judge Knowlton says that when a corporation is
made up of two consolidated corporations, holding
charters from different States, the new corporation is
to be treated as a domestic corporation in each State
in reference to the laws of that State relating to its
conduct there. He shows, too, that the relations of
such corporations to the State, under different statutory provisions, have been considered in many cases.
He quotes Justice Field as having said: "By the general
law, railroad corporations created by two or more
States,though joint in their interests,in the operation
of their roads, in the issue of their stock, and in the
division of their profits, so as practically to be a single
corporation, do not lose their identity, and each one
has its existence and its standing in the courts of the
country only by virtue of the legislation of the State
by which it is created. The union of name, of officers,
of business and of property does not change their distinctive character as separate corporations."
Accordingly, it is held that Massachusetts could not
have granted the New Haven Co. franchises to be
enjoyed and exercised in Connecticut which are
contrary to the laws of Connecticut, and, vice versa,
Connecticut could not grant franchises to be enjoyed in
Massachusetts contrary to the Massachusetts laws, for
the corporation in each State is a domestic corporation,
and as such it is governed by the laws of the'State
of its creation, in all that it does within that State.
The Court thought it plain, too, that in the different
provisions of the Statutes of Massachusetts, the Legislature intended to retain control of the consolidated
corporation as a domestic corporation in everything
that it might do within the Commonwealth and that, in
recognizing (as the State did) the company's right
to receive franchises and acquire property in Connecticut, the State did not give it an implied right to receive
any franchise in Connecticut to be enjoyed or exercised
in Massachusetts in , violation of the laws or public
policy of that commonwealth.
The next point that came up was as to the meaning
of the words "shall not directly or indirectly subscribe
for, take or hold, the stock or bonds," &c., in the
Massachusetts law. Doubtless one purpose of the
provisions, says Judge Knowlton, was to proton
minority stockholders from the risk of detrimental
acts of a corporation ultra vires. But a more important
purpose was to prevent a railroad corporation from
[VOL. Lxxxvz.
obtaining, without legislative permission, the control
of another corporation so situated that competition
between the two might conserve the interests of the
public. While combinations of connecting railroads
have been encouraged by many enactments, Massachusetts laws are intended to prevent the consolidation
of railroad corporations which are natural competitors
for the same business, except when authority therefor
is obtained from the Legislature. The words "subscribe for, take or hold" are intended to include legal
ownership of every kind. The word "indirectly"
covers other modes of holding than by taking or holding
the legal title. The words together cover every kind
of proprietary interest, says Judge Knowlton, in the
stock or bonds referred to. It is immaterial hOw or
where the legal title is held so long as the railroad corporation is the equitable or beneficial owner of it.
What the Legislature was seeking to prevent, the
opinion urges, was influence in the management of the
subordinate corporation by the other corporation,
however exercised, and whether extending to absolute
control or falling short of it.
The question of indirect ownership came up because
the New Haven Co.—evidently to guard against conflict with the Massachusetts statutes that might conceivably arise because of direct ownership—had resorted to the organization of a number of intermediate
companies. First there was the "Consolidated Railway Co.," which originally held control of numerous
trolley lines; then there was the New England Investment & Security Co., a voluntary organization, to
which there had been turned over certain of the Massachusetts trolley lines, and then there was a third intermediate organization called the Springfield Railway
Companies, which eventually passed to the New
England Investment & Security Co., and which holds
control of the Springfield Street Ry. But the Court
holds that these are all pieces of legal machinery
through which the company effects its purpose of
getting control of the properties for which it has not
been given any franchise under Massachusetts laws.
In a word, all the street railway companies in Massachusetts are "indirectly held and controlled and managed in the interest of the defendant as absolutely
and completely as it holds and manages its line of
railroad between Springfield and New York." "Directly or indirectly subscribing for, taking and holding
or guaranteeing the bonds and dividends of another
corporation in this commonwealth by a railroad
corporation organized under our laws, is the exercise
of that which would be a franchise if authority to do it
had been granted by the Legislature. It .
may be restrained by injunction under this
statute."
The Attorney-General's "information," apparently,
did not cover any but the Massachusetts trolley lines.
The ruling of the Court seems to apply equally well to
the holding of Boston & Maine stock, since the prohibition is against the holding of stock or bonds "of
any other corporation." It has not yet transpired
what step the New Haven management intends to
take to meet this situation. The Legislature has the
matter under consideration, and as nothing could be
gained by the adoption of a course that might seriously
embarrass the company,it would be best to acquiesce in
what has been done, but impose restrictions and regulations calculated to protect public interests.
MAY 30 1908.1
THE CHRONICLE
• 1313
have really reduced the cost of new business ,by inGOVERNOR HUGHES AND LIFE INSURANCE. creasing the efficiency of a present salaried "manager"
After the hundred pages of the Armstrong life insur- system. One of the most prominent agents reminds
ance law of two years ago, a Martian might have us that the rejected bill was taken up at the sugsupposed the habit of superimposing patch upon patch gestion of a member of the Armstrong committee,
of statute would have rested awhile; but it continues who wished to see remedied an injustice that he
as formerly. In 1907, about a dozen laws, mostly clearly perceived. The bill was unanimously approved
amendatory, were passed, two of them, approved on by the insurance committees of both houses; it went
the same day, relating to the same subject and nearly unanimously through the Assembly, had only one
the same in title; this year, between 30 and 40 bills dissenting vote in the Senate, was urged by all the
were introduced, of which 8 passed both houses. Of companies of this State and by most of those outside,
the two or three signed, one permits life companies to and stood almost literally without an opposing voice.
Governor Hughes desires, he says, that agents should
become parties to reorganization or protective committees, thus meeting a dangerous condition which be reasonably paid "and that our New York companies
was not foreseen when the prohibition of all agreements shall have the recognition and enjoy the confidence
or participations was inserted in the original law; this which they deserve"; but his action means that he
was discussed in the "Chronicle" about four months cannot admit them to be worthy of either. He would
ago. Another new law prohibits misrepresentations deny them any discretion in managing volume and
made for the purpose of shifting policyholders out of outlays of the business, and he would retain a statute
one company into another, this process beinv called (of which he now more clearly than ever appears the
"twisting" in insurance parlance. There has been probable author) that sets up the anomaly of a legal
nothing new which makes the situation as left by the maximum, not a minimum, rate of wages. He virActs of 1906 materially worse or materially better; tually affirms that he knows the insurance business
nothing which releases the inevitable from the bonds more intimately and more correctly than any or all of
the men with whom it is a life work.
then put on, which still stand deferred.
Such a declaration does not suggest, comment at
A bill to slightly modify Section 97, relating to expenses allowed on new business, was passed with no any length, but to those who really believe it there
difficulty; it was a compromise measure, made very can be no difficulty in accepting it forthwith and
mild in order to satisfy Governor Hughes's known considering the subject closed. Yet it is remarkable in
severity of views on this subject, and the general im- what strange ways the times are discovered out of
pression was that he would not oppose it. At a public joint. There are many persons of a denunciatory habit
hearing which he announced, without request from who would admit wealth to be a good thing, if it had
any one, much was said for the bill and not a word not got into the wrong hands—a misfortune which
against it; notwithstanding, he killed it on last Satur- might readily be cured by a redistribution. There are
day by the pocket veto, filing a statement respecting it. many others whose talk implies (without explaining
In this he does again something which has become how it has occurred so) that all the banks, trust comalmost a custom with him; he seriously states a propo- panies, railways, and other great corporations have
sition which nobody questions, since its obviousness come under control of incompetent persons; the remputs it in the class of truisms; then to this he tags, as edy is to select a few supermen and make out of them
though the one proved the other, some proposition public commissions, to which all affairs are to be
which does not follow and has nO relation to the other. turned over. The results of this scheme do not appear
He recalls the extravagance ana waste from over- encouraging thus far; yet we are virtually assured
competition in yeas now long past; which did exist, that (if we keep on extending it) everything will be
as nobody denies; and this would justify his veto, if very much right, after everything has been put in
the measure would revive those past abuses. The a straight-jacket.
It is not expedient (though there be a temptation
proposal of the bill, as correctly stated by him, was
examimedical
for
amounts
to
do so) to consider the bad.features of the Armstrong
expended
to enact'that the
should
risks
not
whigh ought to have been and certainly will be
of
laws
proposed
inspections
nations and
as
the
allows
removed. Some of the worst have been
the
law
what
sometime
present
in
be included
This
(he
business.
the "Chronicle." Suffice it to say that
in
new
of
procuring
cost
discussed
maximum
throughout, with scarcely a useful or
permit
unwarbad
are
would
as
it
laws
justified,
be
the
"cannot
says)
rantable outlays and facilitate a return to the injurious even innocuous portion; they are bad, not merely in
what they contain but in the assumptions upon which
conditions of past years."
The Mutual Life tells us that the present restriction they were framed. The time expended on the investicame as the company (in pursuance of a deliberate gation and its statutory results was insufficient to
policy) had nearly cleared off the renewal interests of permit the ablest ten men in the country to frame wise
its agents, by commuting and purchasing; therefore, 'laws, providing they attenipted to prescribe such
the agents had only their new business to look to for mihutiae of regulative and restrictive details. The
income thereafter; in many other companies this had actual framer or framers, had only the shallowest
not been done, and their agents still had large interests knowledge of the subject, and the animus which
iri renewal commissions wherewith to tide over, so inipelled them was such as made any just handling of it
that an unfavorable effect on a few companies as com- impossible. No legislation of any considerable amount
pared with others followed, necessarily. The addi- or of wide scope was timely or needed; and this bad
tional small margin proposed by the bill now killed mass, destructive in effects as it was predicted must
would have been (says this company) of great aid just be,requires to be swept away. That Governor Hughes
at present; it would have helped the agents out, would intends wholesomeness and believes he is striving for it
have permitted increase in their number, and would may be admitted; but that does not make it less a
1314
THE CHRONICLE
[VOL."mom.
misf ortune that he is so perfectly right in his own eyes issued. By the table the aggregate is $248,279,700,
and so immovably set against conviction.
but, as just indicated, the statement is not absolutely
complete. It seemed better to give it now rather
THE ISSUE OF CLEARING-HOUSE CERTIFI- than to delay further on the chances of receiving
returns from the missing places later on. Barring
CATES DURING THE PANIC.
We have had in mind for some time the preparation Kansas City alone, none of the missing returns would
of a compilation to show the amount of Clearing- swell the grand aggregate to any very great extent.
House certificates issued during the financial cata- The Kansas City return, however, would add several
clysm of last autumn by all the various Clearing- million dollars to the total. As will be recalled,
House Associations throughout the country. We aring the strain the very largest bank in Kansas
have felt that complete and accurate data in that City became involved in difficulties—we mean the
regard would be very Serviceable both for present use National Bank of Commerce--and the issue of Clearand as a matter of record. We find now that one ing-House certificates was mainly in aid of that
of the officials of the New York Clearing House has institution. On the day of its suspension, namely
been engaged in this very task for a good many weeks December 5 (the bank has since been completely
past, obviating the need of ourselves engaging in the reorganized and is again a prosperous institution
work—an undertaking of no mean proportions. with ex-Comptroller Ridgely at its head) the indebtedDuring t he last two months correspondence with the ness of the Bank of Commerce to the Kansas City
officials of the different Clearing Houses has elicited Clearing House was reported at $3,694,000. Probfigures and facts which have been placed at our ably, with returns from Kansas City and the few
disposal and will be found in an elaborate compila- minor missing points included, the aggregate of
tion printed on a subsequ ent page—page 1321. The certificates issued would stand in the neighborhood
exhibit has particular interest at this juncture when of 255 million dollars.
Congress is perfecting a measure of legislation whose
In the larger Clearing Houses the certificates were
avowed purpose is to provide an "emergency" cur- issued, with but few exceptions, for the sole purpose
• rency to be available in a time of stress. like that of settling balances between the banks at the Clearing
Houses. In other places the certificates were in a.
from which the country has so recently emerged.
The endeavor has been to indicate in a concise way number of cases pledged for checks or notes of small
a few leading and essential facts. The items comprise denominations meant to serve as currency for general
• (1) the date of the first issue of certificates in each circulation. In still other localities no certificates
case; (2) the date of the last issue; (3) the date of the were issued at all, but cashiers' checks for small, unifirst cancellation; (4) the date of the final cancellation; form amounts, or checks authorized by the Clearing
(5) the aggregate issue, being the aggregate of the House, or banks associated, were issued to provide
several amounts put out from day to day during the funds for pay-rolls, &c. In the detailed statement
whole of the period in which this means of relief was ivhich we print, the issues, known or apparent, meant
practiced, and (6) the maximum amount outstanding, for other than Clearing-House purposes, are noted
with the date when such maximum was reached. with an asterisk (*). A number of places which were
It can readily be seen that the aggregate of the differ- supposed to have put out Clearing-House certificate,
:
ent issues would not necessarily show the maximum now report that none were issued. This is particularly
amount outstanding at any one time, since while true of Cincinnati, Mobile and Memphis.
certificates were still being issued others might be in
It is proper to recall here that Clearing-House cerprocess of cancellation. As a matter of fact, this is tificates and Clearing-House checks were not the only
precisely what happened at a number of points, and form of emergency issues put out during the trouble.
particularly at New York, and hence in the case of Some few of the railroads and also some industrial
not a few places the maximum amount outstanding corporations—the Standard Oil Co. among the latter—
falls considerably below the aggregate issue.•
issued checks of larger or smaller denomination in
Mr. Gilpin, Assistant. Manager of the New York making payments to their employees during the period
Clearing House, sent inquiries to 106 Clearing Houses of extreme stringency and while hoarding was still
in the United States, asking as to the use of loan being practiced, and some of these checks passed curcertificates, and cashiers' or Clearing-House checks rent and acted as substitutes for currency for the time
during the recent disturbance. He received replies being. The matter is of importance at this moment,
from all but nine places. Of the remainder, it appears, in view of the amount of new note issues to be allowed
50 had availed of this measure of relief, while the other in the Vreeland-Aldrich Bill now speeding to enact47 gave replies indicating that resort to such expedient ment in Congress. The limit fixed in that measure
had not been adopted. Among the nine places from for the additional notes which it calls into being is
which no returns were received were presumably $500,000,000. It is undoubtedly a wise provision to
Kansas City, Columbus, 0., Oklahoma City and have the amount at some large figure like this, though
Montgomery, Ala., for we do not find these in Mr. under a properly-constructed bank-note system the
Gilpin's list, though reports to us while the currency necessity for emergency issues should never arise.
stringency prevailed indicated that action at these
A striking feature disclosed by the tabulation of
points had been taken looking to the issuance of certificates is the large proportion of the total issued
certificates. Except, however, in the case of Kansas at the financial centres. That shows where measures
City, the amount of certificates in these instances of relief must be applied when relief becomes necessary.
cannot have been very considerable.
In Congress and among politicians there is always more
The fact of paramount interest in the detailed or less objection to proposed schemes for regulating
statement is, of course, the aggregate amount of the currency out of fear that the benefits will accrue
this Clearing-House currency shown to have been to the banks and financial institutions at the leading
MAY 36 1968.J
THE CHRONICLE
monetary centres. The legislator from the West
and South is sure to rise in his seat and urge that not
enough provision is made for his constituents or for
the banks in his bailiwick. In. the same way certain
Secretaries of the United States Treasury during their
incumbency in office were afraid that Government
deposits in the financial centres might be an unwise
thing, and accordingly sought to put the money with
interior institutions.
But such notions embody a serious fallacy. Relief at the financial centres means relief for the whole
country. The money is needed at the financial centres in order that these financial centres may be able
to meet the demands of the other parts of the country.
No feature of the late panic was so noteworthy as the
enormous shipments of currency which were made to
the West, to the South and to the Pacific Coast from
the chief monetary centres. The New York Clearing,
House was not obliged to issue $101,060,000 of certificates to meet local needs, but to meet the unusual
demands of the country banks for currency and for a
return of their funds on deposit here. In the same
way, Chicago could have got along with very much
less than the $39,240,000 of certificates actually issued
by its Clearing House, except that the banks at that
centre, like those at New York, had to provide for
the wants of their out-of-town correspondents. Out
of the whole $248,279,700 of certificates issued, as
shown by our table, no less than $194,894,000 is supplied by six points, namely, New York, $101,060,000;
Chicago, $39,240,000; St. Louis, $15,965,000; Philadelphia, $13,695,000; Boston, $12,595,000, and San
Francisco, $12,339,000.
Another interesting way of grouping the figures is
by geographical divisions, using for this purpose the
grouping employed by the United States Census in its
statistics. In this way it is found that the Clearing
Houses in the North Atlantic division, comprising the
New England section, together with New York, New
Jersey and Pennsylvania—or, more specifically, the
cities of New York, Philadelphia, Boston, Pittsburgh,
Buffalo and Harrisburg—are responsible for $136,076,500 of certificates, while the North Central division,
comprising the Central Western States, is accountable
for $74,800,200 more, making, altogether, for these
two groups no less than $210,876,700 of certificates
out of the grand total of $248,279,700 of certificates
put out by all the Clearing-House associations. In the
South Atlantic group only $7,010,800 of certificates
were put out, and in the South Central division$8,960,200. In the so-called Western, or what would be
termed here the Pacific, division, the total contribution of certificates wassomewhat larger,and yet aggregated no more than $21,432,000, and this included the
$12,339,000 issued by San Francisco, already alluded
to. The following shows the details for each group.
South Atlantic Div.(Continued).
North Atlantic Division—
*101,000,000 Lynchburg
$381,000
New York
13,695,000 Wheeling
195,000
Philadelphia
12,505,000 Atlanta
1,500,000
Boston
7,445,000 Savannah
285,500
Pittsburgh
915,000 Augusta
370,000
Buffalo
366,500 Macon
325,000
Harrisburg
Brunswick
109,000
$136,076,500 Charleston
115,000
Greensboro
39.100
North Central Division—
$39,240,000
Chicago
15.965,000
$7,010,800
St. Louts
3,718,000
South Central Division—
Milwaukee
830,000 New Orleans
$5,288,000
Minnea oils1,
1,900,000 Louisville
2,590,000
St. Paul
3,220,000 Knoxville
282,500
Cleveland
541,000 Nashville
468,700
Youngstown
1,650,000 Vicksburg
170,000
Indianapolis
345,000 Little Rock
183,000
Fort Wayne
120,000
South Bend
2,175,000
$8,960,200
Detroit
1,001,200
Western (Pacific) Division—
Des Moines
240,000 San Francisco
,000
Sioux City
1,999,000 Oakland
1,250,000
Omaha
208,000 Los Angeles
2,088,000
Lincoln
Denver
515,000
650,000
St. Joseph
42,000 Salt Lake
802,000
Topeka
91,000 Portland
1,000,000
Wichita
Seattle
1,675,000
$74,800,200 Spokane
1,413,000
Tacoma
215,000
South Atlantic Division—
$3,094,000
Baltimore
617,200
$21,432,000
Danville
1315
With reference to the dates of the issuance of the
certificates, this in all cases occurred either towards
the close of October or some time in November. A5
concerns the last issue of certificates, where this extended beyond the end of December, it was usually
for some special reason, as in the case of New York,
where renewed troubles among a number of banks
which had been kept afloat through Clearing-House
aid for a period of three months, caused the issuance
of some certificates as late as Jan. 30. The date of
the first cancellation of certificates varied widely
among the different Clearing Houses, beginning in
some cases, like New Orleans, almost immediately after the process had begun, and in other cases, like
Boston, being delayed until January. The date of
final cancellation would seem to possess little significance. In some instances the tardy return of a trifling
amount of outstanding issues has delayed the date,
and in other cases, notably in New York, the fact that
some of the institutions which had taken out certificates passed into the hands of receivers, and had to be
liquidated, had the same effect.
One other point deserves mention. While the aggregate of certificate issues was $248,279,700, the
maximum amount outstanding at any one time was
only $219,857,500. This confirms what was said
above, that, while new certificates were still in process of issuance, the cancellation of certificates previously issued had already begun. Nor were the certificates actually outstanding always in use. The
banks frequently took out certificates as a mere precautionary measure, so that they might have them
on hand in case the necessity arose. That was conspicuously true at this centre. The aggregate of
the issues here, as noted above, was $101,060,000.
The maximum amount outstanding at any one time
was only $88,420,000 and the maximum amount in
actual use was still less. It has not been easy to calculate the amount in actual use from to day day, but
computations have been made that show the
maximum was only $74,000,000. Of course the certificates bore interest while they were outstanding,
whether in actual use in the payment of balances or
not; nevertheless, holding the certificates, where not
required, did not cost an institution anything, since,
though the interest on the certificates was charged up
against it, it also received credit of interest on the certificates held by it—whether certificates received from
other institutions in the payment of balances or taken
out by itself and not used—and thus the one item
necessarily offset the other.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO'S.
—The public sales of bank stocks this week aggregate
147 shares, of which 47 shares were. sold at the Stock Exchange and 100 shares at auction. The transactions in
trust company stocks reach a total of 523' shares.
Shares. BANKS—Ncw York.
•2 American Ex, Nat. Bank_ __
*45 Commerce, Nat. Bank of_ _ _
100 State Bank
TRUST COMPANIES—New
50 Carnegie Trust Co
2 Commonwealth Trust Co_ _ _
Loc. High. Close.
219
219
219
160
168
168
201
230 .230
York.
153
150
150
75
75
75
Last
May
May
Feb.
previous sale.
1908— 222H
1908— 166
1908— 325
May 1908— 160%
April 1905— 100
• Sold at the Stock Exchange.
—Notwithstanding the announcement a week ago that
Congress had decided to abandon its efforts toward currency
legislation, a compromise measure, embodying the principal
features of both the Aldrich and Vreeland Bills, was agreed
to by the Senate and House conferrees on Wednesday and
passed by the House on that day by a vote of 166 to 140.
1316
THE CHRONICLE
It is stated that in the haste to have the bill printed the
section providing that .it shall expire by limitation on June
30 1914 was omitted, thus'necessitating another vote on the
bill in the House, whether or not it is amended by the Senate.
The compromise measure, like the Vreeland Bill, provides
that national banks, not less than ten in number, with an
aggregate capital and surplus of at least $5,000,000, may
:form voluntary associations which,however,are designated in
the new bill as National Currency Associations;instead of Clearing-House Associations, as in the Vreeland Bill.' Emergency
currency may be issued through these associations to an
amount not exceeding $500,000,000. The new bill makes
as a basis for such emergency currency "any securities,
including commercial paper, held by a national banking
association." It is stipulated that the term "commercial
paper" shall be held to include only notes representing
actual commercial transactions which, when accepted by
the association, shall bear the names of at least two responsible parties and have not exceeding four months to run.
Any national bank belonging to any national currency association having circulating notes outstanding secured by a
deposit of United States bonds to an amount not less than
40% of its capital, and which has its capital unimpaired and
a surplus of not less than 20%, may obtain emergency notes
to an amount not,exceeding 75% of the cash value of the
securities or commercial paper deposited. There is also a
provision under which, upon the deposit of bonds of certain
described State, city, town, county, or other municipalities,
the notes may be issued to the extent of 90% of the market
value of such bonds direct to a bank without the intervention of any National Currency Association. It is stipulated
• - that in no event is the issue of notes based on commercial
paper to be in excess of 30% of the unimpaired capital and
surplus of a bank. The banks and assets of all banks belonging to any particular association are to be jointly and
severally liable to the United States for the redemption of
any circulation obtained through the instrumentality of
such association, but as between the several banks composing such association each bank shall be liable only in the
propoxtion that its capital and surplus bear to the aggregate
.capital and surplus of all such banks. The tax on the
emergency notes is to be at the rate of 5% per annum for the
first month, after which there is to be an additional tax of
1% per annum for each month, until a tax of 10% per annum is reached. A redemption fund equal to 5% of such
emergency notes is to be deposited in the Treasury in addition to the 5% redemption 'fund now required against circulating notes. The bill also contains a provision creating
i National Monetary Commission,' to be composed of nine
members of the, Senate and nine members of the Abuse.
—Governor Higgins of Rhode Island has appointed William
R. Goodwin of Providence State Bank Commissioner,,under
thp new, banking AO passed by the Legislature Creating the
office and providing for ,such appointment. The Act, in
.addition to providing,for the general regulation of banks,
Also materially changes the law governing the inveA ments of
,savings banks..
--In dismissing a suit brought to hold certain,of the stockholders of the Union Surety 4 Guaranty go. of Philadelphia
liable ,for double thoir. holdings, Judge, Sulzberger of the
.Common Pleas Court-Q. ,2 held that. tri,ist companies or:ganized under. the Act of: April 29 .1874 canno Jegally b6
;'..tbusidered to be.' nducting a banking •business, and ac,‘ conlingly theiri stoOholders are not liable for double the
'ainount-Afitheir shares,,,.The,receiver of-the institutionliad
?sought to enforce thet,double-liFbility, payment of thgistock!holdersirbasing his,-stiik!On a different, Act of 18:74 .May 11
1874) Whighc.providge that "all stockholders
banking, companiesirffiving lima institutions, trust ,qompaasid all.other inp,prpcirate companies doing t4p,,kusine,s
of banks'or:loaning/And discounting moneys As s;iici3 in this
Commonweath, shall be personally liable for all debts and
deposits in the individual capacity to double ;the amount
of their ,capital stock held_and 4:;rivned by each." In dismissing the'suit, judge,Sulzherger said:
Banks and,trust companies are not identified with each other In the popular Mind.
are ancient, trust companies modern. • Banks deal 'primarily with merchants, trnst.companies with all classes, without distinction.
Banks lend on personal "credit, trust companies on the sectirlty,of pledged
collaterals. BankS take the rblic of the business success of mercantile enterprise, while trust companies Incur only the risk of a'decline in Investment
,
values.' 13ttnif.-4
actively promote commerce, while trust companies manage Investments.
Lxxxvz.
What they have In common Is that they both receive deposits. which they
put out at interest so that dividends or profits may be earned for the shareholders. Even In this respeet there are Important differences between the
two. Normally, banks pay. no Interest on deposits: trust companies pay
such interest. Banks, under the power to discount, are allowed bY law
to earn interest at a rate somewhat higher than 6%, while trust companies
are limited to the ordinary legal rate of 6%.
In 1899, when the Union Surety LIc Guaranty Co. was chartered, there
was no general statute which by Its title professed to in'corporate trust companies. There was a general statute, the Act of May 131876. which provided for the incorporation of banks. The company iii question Vas not
incorporated under the latter Act. It did not seek the banking privileges
conferred by It, but desired privileges inhering In what are known as trust
companies, and accordingly declared in Its certificate that It was formed
under the Act of April 29 1874, and the several supplements thereto, and
that Its purpose was "Insuring the owners of real estate, mortgages and
others interested In real estate from loss by reason of defective titles, liens
and Incumbrances." Of course, the certificate lacked fullness and even
accuracy, but It slavishly followed the mere wording of the law.
It is shown that In the legislative mind the receiving of deposits and their
loan on collaterals was not considered banking, or, at all events, had ceased
so to be considered: that to the latter term a special and peculiar sense had
attached: that before the establishment of the national-banking system the
distinctive points of banking were the discounting of commercial paper and
the Issue of banknotes: that afterward the latter feature was, for the time
at least, eliminated, and that then the sole peculiar characteristic of a State
bank was the discounting of commercial paper.
—The Cleveland Stock Exchange is now located in new
quarters on the top floor of the Hippodrome Building,
having removed from its former quarters on May 18.
—Gov. Fort of New Jersey has appointed the following as
members of a commission (provided for at the late session of
the Legislature) to suggest a law for the taxation of banks,
trust companies and savings banks: John 0. H. Pitney of
Essex County, Bloomfield H. Minch of Bridgeton, William
H. Davis of Hudson County, Albert M. Bradshaw of Lakewood and J. Lippincott of Atlantic County.
—The American Bankers' Association, 11 Pine Street, this
city, has compiled a statement to show the coming bankers'
conventions in the different States. The list will undoubtedly be found useful by many bankers, and we accordingly
re-print it herewith:
STATE CONVENTION DATES.
•
Dale.
Address.
State.
Secretary.
Place.
Austin
June 4-5-6..
Texas
Fort Worth
W. Hoopes,
June 10-11 __ _Massachusetts - - _North Adams.- _0. W. Hyde
Boston
June 11-12 ----Iowa
Sioux City
J M DInwiddle, Cedar Rapids
Macon
June 11-12 ----Georgia
L P. Hillyer,
Brunswick
Wheeling
June 11-12
_West Virginia_
W.B. Irvine,
Charleston
Henderson
June 16-17-18'
_---.North Carolina-- _Morehead City _ -W. A. Hunt,
(Atlantic Hotel)
Lynchburg
June i8-19-20 -VirginiaHot Springs _ _ N.P. GatlIng,
June 18-19-20- -Washington _ ___ _North Yakima ...P. C. Kauffman, Tacoma
Waterville
June 20
Maine
H S Hall
Waterville
June 26-27 - - - _Oregon
J L. Hartman, Portland
Salem
July 1-2
W.C. Macfadden, Fargo
North Dakota_ -131smarck
Detroit
Hai, if. Smith,
July 6 to 12 _ _Marquette
July 9-10 - - - New York
E.0.Eldredge, New York
F t '
(1,000 Islands)
Clark
July 8-9
J E.Platt,
SoutIC DakotaDeadwood
July 15-16
J H.Puelicher, Milwaukee
Wisconsin
Milwaukee
Minneapolis
July 23-24 _ __Minnesota
E.C. Brown,
Duluth
New•York
July 23-24-25. _Bank Clerks - - - _Providence
G.E. Allen,
Boulder,
July 23-24 ---Colorado
Colorado SprIn-gs A, A. Reed,
Helena
Frank Bogart,
July 27-28 ----Montana
Billings
Chas. Hann,
13altImore
Sept. 23-24-25_ _Maryland
Baltimore
Chicago
F.P. Judson,
Sept. or Oct__ Illinois
Chicago
Sept. or Oct- -Am. 13'krs' Ass'n —Denver
F E. Farnsworth, New York
—An importapt incident of the 'convention of the California Bankers'., Association, which adjourned on the 16th
inst. after a three days" session,at Pasadena, was the movement teward the establishment of a 'State Clearing-House
.V-;sooiation.. AictiOn , in this direction' was started some
little time ago by 'C. E. Woodside, bond officer of the Los
L,
Angeles Trust Co. of. Los Angeles. • The 'result of lus'efforts
yvas the appointment :at the convention of a committee of
fifteen, which .at once, prepared: recommendations' relative
to the formation of such an orgamilatlon; and providing for
the aPpointment Ora,rsn.b-;•committee tO work out the details
of organization. These recommendations,' which were unanimously adopted by the'aisociatiOn, are'as follows:
The commIttee,.app,'nted by..your body'to formulate plans relative to
the organization.of a State Clearing-House. Association beg leave tb submit
. —
the following recommendatioris:—:
•, First: That. a• State.,,ClorIng-HOuse Association be rOtined to Include,
If possible,: all tilejbentis.pf .the state"
'Second: That the state cleattart-,tiopitse As:wet:mod hhe divided iAto
districts, each district to beirfagagedIft'aiocal committee tinder the con'
trol of a general association'. —
Third: That each district select and employ. RS'OWn
nor.and that, examinatIous and.reportsi bp ,made.in accoNance wit.h. rules
•
and regulations established 13V the genet-id association..
Fourth::That.laws be.erisficted-preating,a State ..uperInAintient infiiBanks
In place of the present Board of flank' CommisslonetS, arid that` tffe'SuperI ntelident'of BankIV.In tarising!examinations .of. Stateibat)lis to .be,made,
employ so far as ,possible the examiners that have beep selected•by the districts Of .the Clearing-H(16W ,A813oCiation.,,
1.• ;4 ° •
Fifth: That all, banks,be required to publIsh,In local papers UateMents of
their conditions'on the' des de,sIgnittfid by theCoMptrolkisof Allie• Cullrency.
Sixth: . That a committee of three be appointed.by the.Callfornia Bankers'
Association to take charge 'Of' the details of'organizing A. StWiClearingHowie
,,
Association and that, tOe necessary expenses ot-,sucit,,,qopyMttee. be
paid out of the Treasury of the Califeitnia• Baidtera' Asseclatten.•
Chair
—W°11
00
EDS
.6
11 j
Ei.l)4
Y.
t;;try
•
San Francisco and Los Angeles are among the *Cities *oTh
crating their own 'clearing houses,'and both organizations
maintain their own independent examiner. These two cities,
Mr. Woodside states, will form two districts of. the State
association, ,the yegnainder of the State being divided into
districts in accordance with location. . .As far as our knowledge goes, this will be the first State Clearing-House Association in the United States. Through such an organization
MAY 30 1008.
THE CHRONICLE
1317
duly recorded In the minutes of the proceedings of such corporation designate
an officer or officers whose duty It shall be to prepare and submit to each
airector or trustee at each regular meeting of the board, or to an executive
committee of not less than five members pt such board, a written statement
of all purchases and sales of securities, and of every discount and loan,
exclusive of discounts and loans of less than one thousand dollars, made
stnee the last regular meeting of the board, describing the collateral to the
loans so made as of the date of the meeting at which ,such statement ,Its
submitted. Such statement shall also contain a list giving the aggregate
of loans and discounts to each Individual, firm, corporation or association,
whose liability to such corporation has been increased one thousand dollars
or more since the last regular meeting of the board, together with a description of the collateral to such loans held by such corporation at the date of
the meeting at which such statement Is submitted. A copy of such statement, together with a list of the directors present at such meeting, verified
by the affidavit of the officer or efficers charged with the duty of preparing
and submitting such statement, shall be filed with the records of the corbought with- poration within one day after such meeting, and be presumptive evidence
l'irst, that bonds bought for strictly panic reserve must be
stated.
the matters
out regard to net return, and only the question of their immediate market- of Section 2. therein
This Act shall take effect Immediately.
ability can be taken Into consideration.
27 1908.
and
April
Approved
sudden
to
have
It
Is
not•likely
that
situated
so
Is
bank
a
Second. If
of its reabnormal calls on, its money, it may invest a smaller proportion
—It has been definitely decided to hold the annual convarious investserve in these e5pecially marketable bonds but may make
normal
In
marketable
are
equally
which
securities
charer
ments among
of the American Bankers' Association in ,the week
vention
times, and which net a higher rate of interest.
I
it is expected that the banking system of California will be
so; strengthened that every emergency can be handled with
ease, and the possibility of, loss reduced to a minimum.
—A discussion of the .subject of "Bonds: as a .Secondary
Reserve for Banks" by Cyrus Peirce, Manager of the San
Francisco office of N. W.:Halsey & Co., was also one of the
features'of the .annual convention of the California Bankers'
Association. In summarizing the question, the following
conclusions were arrived at by the speaker:
beginning Sept. 27'. As previously announced in these
columns, Denver will be the convention city.
Major Charles Elliot Warren, President of the New York
State Bankers' Association, announces that with the consent of the council of administration of the State organization, arrangements have been made with the New York
Central lines for a "bankers' special" from New York to
Denver for the'accommodation of members from New York
and the contiguous territory. This train will be a duplicate
of the "banker's' special" to the Pacifie Coast in 1903. The
route to Denver will be a direct one, but on the return trip
a visit to Yellowstone Park and other points of interest will
be included. It is contemplated that the round trip will
consume from two and a half to three weeks. Mr. Warren
will be glad to assign space, in the order of receipt, to those
desiring to join the party.
The New York State Bankers' Association will meet in
annual session July -9 and 10 at the Hotel Frontenac, Thousand Islands: A special' train, for the exclusive use of the
bankers, will leave the Grtmd Central Station on Wednesday
evening, July 8, Provided *there is a sufficient number of
AN ACT
of interest to be paid to persons to warrant it. 'The train is scheduled to arrive at
rate
the
to
relation
;in
Law
Banking
the
'amend
To
depositors and the deduction, of .a fund to amortize or retire at maturity 0:25 a. m. July 8 at Clayton, where direct connection is
premiutns paid on securities.
The•People of the State of New York, represented in Senate and Assembly, do made with the 8teamer due to arrive at Frontenac at 7:20
enact as follows:
For those desiring to make a day trip, special parlor
Section 1. Section 123 of chapter 689 of the lasts of 1392, entitled "An
as a. m.
Act in relation to banking corporations," is hereby amended to read
be attached to the "Thousand' Islands-Special,"
will
cars
follows:
extra dividends.—The trustees of every
Section 123. Bate of interest; rate
exceed
Grand Central 'Station July'8 at 745 a. m.
to
the
not
or
of
interest
the
leaving
dividends
shall:regulate
such corporation
such manner
five per centum per annum upon the deposits therewith, Inprofits
of 'such The social features of the prokram will include special steamthe
as
be,
may
all
as
nearly
receive
shall
depositors
that
manner
corporation, after deducting necessary expenses and providing inora gradual
boat excursions through the St. Lawrence, a'banquet at the
approved by the Superintendent of Banks, for the amortization corporations
such
by
Maned
Oil,
all
securities
discounts
or
premiums
extinction of
Hotel Frontenac in'the evening of July 9 and a carnival of
the
as
amounts
such
reserving
so as to bring them to. par at maturity, and
of the fire in the'evening of July 10.
trustees may deem expedient as a surplus fund 10 the security
deposits,
depositors, which to the amount of fifteen per [cent] centuni of its
to
the trustees of any such'corporation may gradually necuinulate and hold,
;—James V. Lott, Cashier of the Liberty National Bank of
its
meet any contingency or loss in its business from the depreciation of
depositors
their
according
classify
may
this
securities or otherwise.' ',The trustees
city, died suddenly on Thursday night. Mr. Lott had
to the character, amonnt and duration of their dealings with the corporation,
each
that
such
in.
manner
or
'allowed
Interest
dividends
Cashier of the Liberty National since January 1907.
been
the
and regulate
as
depositor shall receive the same ratable portion of interest or dividends
shall not He had previously been connected with the Mercantile
all 'others of his class. The trustees of any such 'corporation the
same
than
declare or allow interest on any deposit for a longer period
National in a similar'clapacity And had"been in the serviee
has been deposited, except that deposits made not later than the tenth
interest ,period, or
business day of the month, commencing any semi-annual
the latter for over twenty-five years.
of
of
the
one
upon
last
withdrawn
or
month,
any
of
the third business day
.
or semi-annual
three business days of the month, ending any quarterly
new six-story banking establishinent of the Im—The
of
whole
the
for
them
upon
interest
declared
have
may
period,
interest
or
interest
dividends
No
or
withdrawn:
Bank of New York is now
period or month when so deposited
of a vote of the porters' & Traders' National
shall oe declared, credited or paid, except by the authority
be
recorded
shall
whereon
their
at 247 13roadway, corner
minutes,
site
upon
old
its
on
entered
nearing
completion
board of trustees duly
between dividend
the ayes and nays upon each vote; but accounts closedlast dividend,
eom- Murray St. The bank will occupy the entire 15,000 square
periods may be credited with interest at the rate of the
If the by-laws
puting from the last dividend period to the date when closed.
be declared and feet of space in the building. Counting the Chemical
so provide. Whenever any interest or dividend shall
appearing to the
and
earned
or
profits
interest
the
of
excess
In
credited
and amorti- National, the Park National, the Liberty National and the
credit of the corporation, after makina the deduction for expenses
shall be jointly and
fifth downtown Broadway
zation aforesaid, the trustees Voting for such dividend
excess so declared Title Guarantee & Trust, it is the
severally liable to the corporation for the amount of such
amounts
exclusively for the use
building
bank
a
and credited. . The trustees of any such corporation whose surplus
to
erect
institution
shall
years,
to fifteen per [cent.] rentum of its deposits, at least once in three
an
as
surplus
s presented themauthorized
alternative
Two
such
s.
beyond
of
department
its
own
accumulation
divide equitably the
authorized.
extra dividend to depositors. In excess of the regular-dividends
the institution either of erectA notice posted conspicuously in a bank of a change in the rate of interest selves to the management of
shall. be equivalent to a personal notice.
ing a bank building devoted entirely to its own uses on this
Section 2. This Act shall talc,: effect immediately.
Approved April 13 1908.
valuable site, which fronts 25 feet on Broadway and 102
alsd'give this week the new section which has been feet on Murray Street, or purchasing adjoining property
, added 'to the banking law of New York requiring monthly for a wider frontage on Broadway. 'find building a "sky'meetings of directors of banking institutions. In addition scraper" to profitably defray the investment on the adto other provisions, the new section calls for the designation dtional Broadway space. 'The final plans drawn by the
of an officer, who shall be required to Submit to each director architect, J. H. Freedlander, 244 Fifth Avenue, and accepted
••
.., or trustee at 'each meeting, or to an executive committee of for the present edifice, permit the entrance of twice as much
not less than five members of the board, a written statement air, light and sun on the six floors of its 25x102'structure
and sales of securities, and of every discount thanif the bank had added 50 or more feet to the Broadof all purchases
,•
and loan, exclusive of those less than $1,000, made since way side and confined its offices to two of the lower floors
the last regular meeting, together with a description of the of a sky-scraper. With these requirements to meet, the
collateral to the loan. The section reads as follows:
architect has successfully evolved a banking plant which
AN Aar
worth the inspection of banking men. The facade of
is
of
boards
directors
of
monthly
meetings
To amend the Banking Law relative to
or trustees, and reports thereto.
building is of white South Dover marble, of classic
the
The People of the State of New York, represented in Senate and Assembly, do
two Corinthian columns appear on the Broadway
design;
enact as follows:
Act In relation
Section 1. Chapter 689 of the laws of 1892 entitled "An
a
six pilasters on the Murray Street side. The
new
secthereto
and
front
by
amended
adding
hereby
to banking corporations," Is
tion, to be section 39-a thereof, to read as follows:
on Broadway and all the W'indow frames
entrance
public
thereto.
—The
reports
or
trustees
and
directors
of
Meetings
Section 39-a.
Is applicable
directors or trustees of every corporation to which this chapterby
handsome grill work on the first and second
with
bronze
are
of
resolution
, This, Mr. Peirce stated, leaves only one important point
to be considered by the banker, and that is the source from
which he obtains his securities; and whether it be his banking correspondent in a reserve'city, or whether it be a recognized dealer in bends, he should know that he is getting
expert advice upon which he can rely, and that in time of
trouble he will be assured of a willingness and ability to
assist without regard to the question of profit on the tran•
saction then in hand.
—Under an amendment to the New York banking law
passed at the late session of the Legislature, the interest to
be paid on deposits by savings banks is to be arrived at not
only after deducting necessary expenses and reserving such
an amount as may be deemed expedient as a surplus, but
also after providing for the amortization and gradual ;extinction of premiums or discounts on all securities owned
by the bank so as to bring them to par at maturity. The
amendment became a law with the approval of theiGovernor
on. April. 13. We give it herewith in full, showing the new
matter in italics and old matter to be omitted in brackets,
shall hold a regular meeting once in each month.
They shall
A
1318
THE CHRONICLE
[VoL. Lxxxvi.
floor windows. The interior of the main floor is of marble the only growth worth attaining is based on sound and suband bronze, and the officers' and directors' rooms are stantial business principles. Samuel S. Conover is President
beautifully decorated with Circassian walnut wainscoting and Andrew H. Mars is Secretary.
Of the most interest to the visitor is the disposition and
—The National Copper Bank of this city, which began
appointments of the various departments, which the archi- business a
year ago, has applied for membership in the
tect has so ably arranged on the six floors. On the first New York Clearing
House Association. The bank's deposits
floor are the receiving departments for the receiving and under the call
of May 14, were $17,049,077.
note tellers and collection clerks, the second floor has the
—The directors of the Carnegie Trust Co. of this city
paying departments for paying tellers, balance and indideclared the initial dividend on the stock of the institution,
vidual bookkeepers and assistant cashiers. , The officers'
being a semi-annual dividend of 3%, payable June 1.
quarters and the loan and discount departments are located
—The Grand Jury this week filed four additional indicton the third floor, while the fourth, fifth and sixth floors
accommodate the directors' rooms and the general clerks. ments against Thomas A. McIntyre on charges of larceny
In the center of the main floor there are special electric and grand larceny in the first and second degrees. He
elevators connecting all floors, besides a private elevator was released on $1,000 bail for each indictment. Mr. Mcand entrance in the rear. The building is entirely fireproof, Intyre had been indicted last week on a charge of grand
with skeleton construction and tile-floor arches. The sub- larceny for which he furnished bail to the amount of $25,000.
basement is given over altogether to the machinery plant, George C. Ryan, another member of the firm of T. A. Mcconsisting of heating and • ventilating apparatus, electric Intyre & Co., was indicted with Mr. McIntyre this week,
light, vacuum sweeping system and ice-water refrigeration. and released under $25,000 bail.
The Importers' & Traders' National Bank, known over for
—The attempted merger of the Brooklyn Bank and the
half a century as one of New York's representative and International Trust Co. of Brooklyn Borough is held as null
conservative institutions, was organized in 1855 and, in and void under an order granted by Judge Betts of Kingston
addition to dividends paid, has earned in surplus and un- on Saturday last, in which he authorizes the transfer of the
divided profits $7,487,147. At the last bank call, May 14, assets of the trust company to the bank, with the approval
deposits were $27,690,992 and total resources $38,503,048. of the shareholders of the respective institutions. The
The directors are: Edward Townsend, President; H. H. order also allows the bank to execute a contract for a loan,
Powell, John Arbuckle, Isaac D. Fletcher, Henry C. Hul- with the object of reorganization.
bert, Henry R. Ickelheimer, Adolph Lewisohn, James R.
—Four vacancies in the board of the Williamsburgh Trust
Plum, Edward C. Rice, Edward Van Volkenburgh, John. J. Co. of Brooklyn Borough, which is undergoing reorganizaWalton and P. B. Worrall.
tion, have been filled by the election to the board of Erskine
—In addition to the change in the presidency of the Hun- Hewitt, George R. Sheldon, William Allen Butler Jr. and
garian-American Bank of this city, noted last week, the J. Horace Harding. Brayton Ives's election as President of
bank also has a new cashier in A. H. Watson, who was chosen the company was noted last week. Plans are being perto the post last month. Mr. Watson had previously been fected for its early reopening.
Cashier of the Richmond Borough National Bank.
—Charles Colyer, who became Presidbnt of the City Trust
—The Metropolitan Trust Co. of this city has paid in full Co. of Newark, N. J., last October, resigned on the 19th inst.
all the claims of the former depositors of the failed Oriental on account of ill-health. Frederick W. Hannahs has been
Bank which have been presented at the offices of the trust chosen as the new head of the institution.
company, 49 Wall St. The only unpaid accounts are those
—W. C. Fitzgerald has been elected Treasurer of the
of a few small depositors who are absent from the city or Rittenhouse Trust Co. of Philadelphia to succeed Robert B.
abroad, and cannot be reached. It will be recalled by our MacMullin, resigned.
readers that when the affairs of the defunct Oriental Bank
—An involuntary petition in bankruptcy was filed on the
were in a tangled condition, Brayton Ives, President of the 27th inst. against the
Pittsburgh Stock Exchange house of
trust company, proposed an arrangement to the court George W. MacMullen &
Co. The Guarantee Title & Trust
which provided for the immediate payment of all the Ori- Co. has been named as
receiver. The liabilities, according
ental's depositors by his company. The company's act to the petition, will reach
$1,800,000, and the assets about
was somewhat unique, and elicited much praise. As has $350,000 less. The
members of the firm are George W.
been heretofore noted, the company is also identified with MacMullen and Sanford
B. Evans.
the reorganization of the Williamsburgh Trust Co., having
—Oliver F. Piper, Cashier of the closed People's Bank
agreed to advance the sum of $1,500,000 to aid in its reof California, Pa., who had been indicted on a charge of
opening.
conspiracy to defraud the bank, has been acquitted of the
—Judge Hough has dismissed the petition in bankruptcy charge by a verdict
returned by the jury on the 21st inst.
filed against the New York Stock Exchange house of W. L. The bank closed its
doors last November.
Stow & Co. on July 11 1907. The action was consented to
—S. Gross Horwitz was appointed receiver for the Southern
by the petitioning creditors and others interested. The firm
Trust
& Deposit Co. of Baltimore on the 25th inst. upon a
suspended on April 15 1907.
bill of complaint filed by the State. The action was the
—The directors of the Hudson Trust Co. of this city, at result
of an examination made by J. Dukes Downes, at
a special meeting on the 22d inst., elected Louis H. Holloway
the instance of State Treasurer Murray Vandiver. It is
as Vice-President and director of the institution. Mr. Holloalleged that the examination shows that the capital of the
way had been a Vice-President of the Mechanics' & Traders'
company, amounting to $70,000, has been practically wiped
Bank.
out, and that the company is insolvent. The available
—August Heckscher and August Belmont Jr. have been assets, it is claimed, aggregate $74,345, while the liabilities
elected directors of the Windsor Trust Co. of this city, suc- aggregate $212,397. The charges made by the
State are
ceeding Andrew Freedman and August Belmont, resigned.
denied by the interests in control of the institution. A
—The Fidelity Trust Co. of this city submits a statement statement has been issued by counsel representing new interat the close of its first year, May 211908, showing deposits ests which lately became identified with the company, with
of $4,208,172 and total resources of $5,845,876. The in- reference to its affairs. They state that an examination
stitution started business May 22 1907 with a capital and made on April 14 1908 by certified public accountants emsurplus of $750,000 each, and in the twelve months has ac- ployed to examine its books showed it to be solvent, but
cumulated undivided profits of $102,340. The report shows that new capital should be subscribed in order to make it
cash on hand and in banks of $1,416,743, representing a a paying investment to its shareholders. On the strength
reserve of 30% against the above-mentioned deposits. It is of this, it is added, a syndicate loaned the company $15,000
announced that the average reserve since May 22 1907 has about ten days ago,"and was proceeding with every prospect
been 26.91%. The company's accounts exceed 1,000. In of success to have subscribed the balance of the stock of the
a circular to its stockholders and friends, it is pointed out corporation."
that the institution offers no inducements in the way of
—John W. H. Geiger, ex-Cashier of the Canton National
free collections of country checks, or in the line of payment Bank of Baltimore,
died on the 14th inst. Mr. Geiger had
of 'high rates of interest to attract deposits, believing that resigned as Cashier
of the institution in Jan. 1907, and in the
MAY 30 1908.1
THE CHRONICLE
following July had been convicted of misusing its funds
and sentenced to five years' imprisonment. Two weeks ago
a verdict was returned by the United States District Court
sustaining the action of the lower court. An appeal had
been registered with the United States Supreme Court, but
pending this Mr. Geiger was to have begun his sentence.
—A controlling interest in the National City Bank of Washington, D. C., has passed to the Union Savings Bank of that
city. Of the 3,000 shares of the National City, 1,600 have
been purchased by the new interests at $170 per $100 share.
As a result of the change in the control of the National City,
that institution will take over the deposits of the Washington
Exchange Bank, an institution affiliated with the Union
Savings Bank, and the Exchange Bank will be placed in
liquidation. The last-named bank has a capital of $150,000
and deposits of about $230,000. E. Quincy Smith, President of the Union Savings Bank, has been elected President
of the National City, and Edward S. Munford has become its
Vice-President. A. G. Clapham remains as Cashier and R. E.
White as Assistant Cashier of the National City.
—The Commercial Savings & Trust Co. of Cleveland has
been merged with the Citizens' Savings & Trust Co. of that
city. It is reported that under the consolidation agreement
the Citizens' acquires the entire assets of the Commercial,
assuming all its liabilities. The merger was ratified on the
21st inst., and became operative the following day. The
Commercial Savings & Trust Co.had a capital of $500,000,sur4 million
plus and profits of about $475,000 and deposits o 33
dollars. It was formerly known as the Dime Savings & Banking Company, the name having been changed on March 2
last, when it opened in new quarters in the Williamson
Building. The institution was organized in 1890. The
Citizens' Savings & Trust has a capital of $4,000,000, surplus and profits of over $3,000,000 and deposits of nearly
$34,000,000.
—The executive council of the Michigan Bankers' Association, at its recent spring meeting, elected Hal H. Smith as
Secretary of the association, to succeed Col. Fred E. Farnsworth, who retired last fall with his appointment as Secretary
of the American Bankers' Association. Resolutions commending the zeal and ability of the retiring Secretary during his occupancy of the office had been prepared by a committee, and were read at the council meeting, and at a dinner
tendered to the council in the evening Col. Farnsworth
was presented with a silver tea service. *The annual meeting of the association is to be held at Marquette in July. The
bankers will leave Detroit on the steamer St. Ignace on July
6, arriving at Marquette July 8, where they will remain for
two days.
—The checks issued by the Chicago Clearing House
between November 14 and December 19 1907 in payment
of Clearing-House certificates have been put to a novel use,
having been converted into paper for a cover for a folder
containing the latest statement of the First National Bank
of that city. The checks, which were .made of the finest
bond paper, were reduced to pulp, and made into the cardboard cover of the folder so that, as the bank states, the
same material which found so useful a place last fall, now
furnishes a souvenir' which, while recalling the emergency
then existing, also records its happy ending. In the facts
given by the bank with regard to the checks, it is stated
that the amount prepared was $13,873,000, while that
paid out was $7,600,300. A small amount still remains
outstanding, probably being held as souvenirs. The new
statement of the First National (May 14) shows deposits
of1100,305,526 and total resources of $117,966,027. The
First Trust & Savings Bank has deposits (May 15) of $33,403;934 and total resources of $37,038,477.
A. Goddard has resigned the presidency of the Fort
Dearborn National Bank of Chicago to become Vice-President of the State Bank of that city. Mr. Goddard will begin
his new duties next week. W. A. Tilden, President of the
Drovers' Deposit National Bank, will probably be chosen
as the head of the Fort Dearborn National. He is already
a member of the board of directors of the latter.
—The United States Trust Co. of Chicago, which is the
name adopted last fall by the Jennings Real Estate, Loan
& Trust Co., was placed in voluntary liquidation on the
19th inst. In its report to _the State Auditor May 12 the
1319
institution's deposits were given as $7,224. These, it is
stated, have been paid in full by the Assets Liquidation Co.,
which has been appointed liquidating agent. The institution began business in 1906. It had a capital of $200,000.
—The Third National Bank of St. Louis removed on the
17th inst. from its old banking rooms at 417 Olive Street
to its new eighteen story building, on the southwest corner
of Broadway and Olive Street. The old quarters had been
occupied by the bank for thirty-four years, and had been
remodeled several times to meet its growing needs. The
institution commenced business in its new quarters on the
19th, remaining open long after the regular banking hours,
to permit an inspection of its new home. The building is
one of the most imposing in the city. The bank occupies
all the ground floor, half of the basement and half of the
second floor—a total area of 17,000 square feet. The
upper portion of the building is divided into offices. The
artistic furnishings and appointments of the new banking
rooms combined with its modern contrivances for the
safe and speedy dispatch of business and the comfort of its
patrons, present an especially attractive appearance, as
befits an institution of the standing of the Third National.
The bank's total resources are (May 14) $36,553,938. It
has a capital of $2,000,000, surplus and profits of $2,251,253
and deposits of $29,931,447. The officials are C. H. Huttig,
President; W. B. Wells, Vice-President; G. W. Galbreath,
Cashier; J. R. Cooke, D.'A. P. Cooke, R. S. Hawes, H. Haill
and J. F. Farrell, Assistant Cashiers.
—Fred. J.Heyne has been elected Cashier of the National
City Bank of Houston, Texas, succeeding S. M. McAshan,
resigned.
—Alfred Le Blanc has become Vice-President of the Bank
of Orleans, of New Orleans, La., succeeding Peter E. Hellwege, who has resigned both as Vice-President and director.
Mr. Le Blanc has been identified with the bank,since its
establishment, as stockholder and director.
—The banking house of Dexter Horton & Co. of Seattle,
which recently increased its capital from $200,000 to $1,000,000, through a conversion of the surplus, has created
a new surplus of $100,000, by transferring that amount from
undivided profits account. After the. transfer undivided
profits still amount to $125,000.
—The stockholders of the Bank of Italy of San Francisco
have ratified the proposition to increase the capital of the
institution from $500,000 to $1,000,000. The time of issuance and selling price of the new stock has been left to the
discretion of the directors. It is expected, however, that
one-half of the proposed issue, namely 2,500 shares, will be
sold at once at $110 per share.
—Through the recent acquisition of a controlling interest
in the Western National Bank of San Francisco by some
of the leading stockholders of the Metropolis Trust & Savings Bank of that city, unison of interest between the
two institutions has been brought about. In a circular
to the shareholders of the Metropolis, it is stated that in
order to turn this alliance to the profit of the latter's stockholders, a holding company is to be formed to be known
as the San Francisco Securities Company, which will buy
the stock of the Metropolis Bank and the Western National,
on condition that the present holders in the respective banks
will purchase stock of the Securities Company to an amount
equal to that paid by the company' for the stock which it
purchases. The stock of the banks will be bought at the
rate of $125 per share by the Securities Company and the
stock of the latter will be sold at the rate of $100 per share,'
this being equivalent to one and one-quarter share's of' the
holding company for one share of bank stock. Each bank
will retain its present place of business, and will conduct
its affairs as formerly. It is also announced that there is no
present intention of changing the management of either
bank; but that in thus working in sympathy they will be
enabled to broaden their sphere of usefulness. The Western
National Bank has a capital of $1,000,000 and the Metropolis
Trust & Savings Bank a capital of $717,958.
—The 38th annual report of the Royal Bank of Canada,
for the year ending Dec. 311907, is presented in unusually
attractive book form. The cover bears a striking reproduction of the bank's head office at Montreal, and photographs
of various branches of the institution are shown within the
1320
THE CHRONICLE
covers.
he bank reports net profits for the year, after
the -usual deductions, of $742,035, as against $604,495 the
previous year, With the balance of $74,875 at:the credit of
profit and loss pee. 31 1903, there was availatile for appropriations the sum of $816,910. Out of this the bank paid
dividends aggregating $390,000 (at the rate of 10% per
annum); $20,000 was, transferred to the Officers' Pension
Fund and $250,000 written off bank premises account, leaving a balance of $150,910 to'be carried forward. During the
year there was an increase of $800,812 in deposits, which advanced from $32,464,686 on Dec. 31 1906 to $33,265,498
Dec. 31 1907. The total assets are now $46,351,498, against
$45,437,517 at the end of 1906. The bank has a paid-up
capital of $3,900,000 and a reserve fund of $4,390,000.
Edson L. Pease is general manager. S. H. Voorhees, of 68
William Street, is the New York agent,
-H. B. Walker, one of the New York agents of the
Canadian Bank of Commerce (head office Toronto) has been
appointed manager of the bank in Montreal. C. D. Mackintosh who had been acting manager at Montreal since
the death of Frank H. Mathewson, takes the place of Mr.
Walker in the New York agency. It is also announced
that John Aird, the manager of the Winnipeg branch,
in addition to continuing in that capacity, will assume
the position of Superintendent of the Central Western
branches, with jurisdiction over seventy branches.
-The directors of the Bank of St. John's (Banque de
St. Jean) at St. John's, Quebec, at'a meeting on April 28
decided to place their institution in voluntary liquidation.
This course, it was said, was determined upon owing to the
fact that the bank, with its capital (paid in) of $316,166 and
deposits (Feb. 29 1908) of but $395,300, was not considered
in a position to compete successfully with other institutions.
It has since been reported that the condition of the hank is
not as good as was at first thought. The shareholders,
is stated, will be called on to make good the losses, and
about $200,000 will be required to meet the liabilities.
-G.Bruce-Webster, the New York agent of the Chartered
Bank Of India, Australia and China (head office London),
is now in receipt of the directors' annual report for the year
ending December 31 1907, which statement discloses a net
profit of $1,807,758 68, including a; balance of $466 847
brought forward from the previous year. The interim
dividend of $260,000 On the old capital stock of $4,000,000,
at the rate of 13% per annum, was paid to shareholdep for
the half-year to June 30 1907; a further sum of $90,00Y. has
been appropriated to pay a bOnus..of 10% on the salaries
of the staff, leaving $1,457,758, out of which $85,341'
t3rest was paid on the new capital to Dec. 31-1907, the'
directors' proposing a final dividend on the old shares at
the rate of 15% yearly, making 14% for the entire. year.
Besides this, $250,000 will be added to the reserve fund,
increasing it to $7,625,000 and $50,000 to the officers'
superannuation fund;* $125,000 was written off the premises
account and $647,418 carried forward te the new profit and
loss account. The company's chief liabilities are: call and
time deposits, $61,443,655; bills and loans payable, 316,193,972; acceptances account customers, $6,133,417. Its
total resources are $105,376,159,and the reserve fund to-day
stands at $7,375,000,which contrasts with $525,000 in 1864,
when the bank's liabilities were only $25,000,000. In 1884
the liabilities increased to $45,000,000; in 1894 to $55,000,000; in 19044o $85,000,000,and in 1907 to $105,376,159.
The corporation was esthbli.;hed by royal charter in 1853
with a capital of $3,220,000, which in 1864 was raised to
$4,000,000 and last year to $6,000,000.
-The gross profits of the Swiss Bankverein for the year
ending December 31 1907, As shown in the annual report,
presented to the stockholders-at the ordinary general meeting on March 20th, amounted to £376,537, exclusive of
£10,821 brought forward from the previous year. The
net profits, after the deduction of all expensesand the writing
off of bad and doubtful debts, were £240,420. Of this
£200,960 was paid in dividends at the rate of 8%, and
£28,700 was set aside for the directors and managers,leaving
£10,760 to be carried forward to the new account. During
the year the Bank in Basle, of which practically the entire
capital had been acquired by the Swiss Bankverein, entered
into liquidation; after successfully completing the liquida-
[VOL.
;
tion and distributing 1,105.70 francs.per share, there _3v_as,
a surplus of £112,894 available from the liquidation, of
which £4,000 was itpplied by the Swiss Bankverein for the
endowment of a fund to, be devoted to the enenurdgement
of higher commercial education in Basle; £13,511 was contributed to the P4nsion Fund; £13,476 was set aside- to
defray the expenses of the organization of an Agency and
two sub-offices, leaving £81,907 to be carried to the Special
Reserve of the Bankverein, which was thereby increased
to £402,000. The Swiss Bankverein has a capital of £2,612,000 ordinary and special reserves of £53,200 and total
assets of £14,604,860.
IMPORTS AND EXPORTS FOR APRIL.
The Bureau of Statistics at Washington has issued the
statement of the country's foreign trade for April, and from
it and from previous statements we have prepared the following interesting summaries:
FOREIGN TRADE MOVEMENT OF THE.UNITED STATES.
(In the following tables three ciphers (000) are In all cases omitted.)
1907-08
1906 07
Exports. Imports. Excess.
Exports. Imports. Excess.
Merchandise.
$
$
$
$
$
$
July-September-. 391,138 356,903 +34,235
379,992 310,908 +69,084
October -December 591,838 315,098 +276.740
560,409 372,234 +188,175
January -----------206,115
_84,997 +121,118
189,297 126,587 +62,710
February
167,757
84,753 +83,004
159,517 123,006 +36,511
141,588
March
89,114 +52.474
161,685 133,110 +28,575
133,470
April
87,481 +45,989
157,452 129,554 +27,898
1,631,006 1,018.346 +613,560
Total
Gold and Gold in Ore.
13,579
July-September.-9,394
+4,185
5,336 112,536 -107,200
October -December
444
,
January
10,932 -10,488
1,969
February
2,847
-879
1,447
3,649 -2,202
March
14,476
2,417 +12,059
April
37,250
Total
Silver and Sliver in Ore.
18,752
July-September.- 13,655
October -December
4,148
January
4,109
February
4,329
March
4,453
April
141,775 -104,525
12,093
11,424
3,622
3,452
3,757
3,308
+6.659,11
+2,231
+526
+657
+572
+1,145
49,446
Total
37,656 +11,790
+ Excess of exports. - Excess of imports.
1,608,352 1.195,399 +412,953
4,180
10,919
2,450
1,127
49,238 --45,058
43,803 -32,884
3,271
-821.
3,330 -2,203
-2.920
-2,755
3:12 !:S42
23,022
109,663 -86,641
12,004
15.516
4,767
4,844
5,058
4,863
'9,317
11,234
3,657
3,722
4,007
3,970
+2,687
+4,282
+1,110
+1,122
+1,051
+893
47,052
35,907
+1 1.145
We subjoin the totals for merchandise, gold and silver for
ten months since July 1 for six years:
Merchandise.
Ten
Months.
Excess
Inof
ports. .1xLarts
I
$
1,631,906 1,018,346 613,560
1,608,352 1,195.399 412.953
1,488,282 1.020,873467.409
1,273,614 934,540339,074
1,277.715 829.232
864;88413
448.03
1.223,989
59,305
Exports.
1907-08
1906-07
1905-06
1904-05
199.3-04
1902-03
I
Silver.
Gold.
Excess
Exof
Inports: ports. Experts
-$
$
$
37.250 141.775/104525
23.022 109,663 /86 ,641
29,595 58,942(29,847
88,082 48,843 39,239
36,868 83.696 /46 ,828
20,096 40,752/20,657
Exports.
Excess
Imports. Exports
$
49,446
47,052
55,811
38,678
39,964
40,545
$
37,656
35,907
36,277
21,387
23,033
20,500
11,790
11,145
19,534,'
17,2E1,1,
16.081
20,045'
f Excess Of Imports.
Similar totals for the(four months since January 1 for six
years make the following exhilait:
-
Merchandise.
Five
Months:
Exports.'
$
648,930
1907._ 667,951
602,260
i905... 496,021
1904.., 490.614
1903... 501,499
intports:
-
Excels
of
ExExports ports.
$
346,345302,585 18.336
512,257 155.694 7,923
431,670 170,590 22,632
406.969 89,053 35,319
, 346.482144,132 .23,857
0,9 149.790 4.349
330
Gold.
-
Excess
Excess -In-,
of
of
ExImports. Exports ports. ports. Exports
$•
$
$
$
19.845 /1,509 17,039 14,130 2,900 ,
16,622 /8,699 19.532 15,356 4,176
25,258 /2,626 23,379 15,511 7,868
11,804 23,515 14.911 9,075 5,836.
32,404 /8,547 16.859 9,040 7,810 '
9.746 /5.406 13,801 6.318 7,483
/ Excess of imports.
' In these tables of totals, gold and silver in ore for all the
years are given under the heads respectively of gold and
silver.
T following shows the merchand!se balance for oath year
back to 1875:
EXCESS OF MERCHANDISE IMPORTS OR EXPORTS.
10 Months ending April 30-.18754 Months ending April 30Imports $5.688,626
Imports $3 454.139
1875 '
Exports 33,383.858
1876
Exports 62.963,556 1876
Exports 43.258,487
Exports 156,514,168 1877
1877
Exports 125,082,388
1878
Exports 227.042.087 1878
F xports 1,852,767
Exports 241,477,822 1879
1879
Exports ,J, (755.956
Exports 155,276.374 1880
1880
Exports 8 ,834,039
1881
Exports 246.546.791 1881
_ Imports' 8,654,286
Exports 56,685.427 1882
1882
Exports 54(731,092
1883
Exports 109,307.482 1883
Exports 16,8924834
Exports 78,952,91.5 1884
1884
Exports 52,816,597
1885-------------- Exports 162,165.130 1885
Imports 13,902.856
1886
Exports 41,164,576 1886
Exports , , 1,613,824
Exports 52.567,394 1887
1887
.,
'
Imports 29,886,256
1888
Exports 3,686.437 1888
1889
Exports 26.782,235 1889
Imports 1,144.743.
Exports 103,523,279 1890
1890
Fxports 16.283,641
1891
Exports 69.362.621 1891
Exports 16,537,636
1892
Exports 208.996,609 1892
Exports 53,546,335
Imports 7,487.867 1893
1893
Imports 57,552,160
1894
Exports 233,071.183 1894
Exports 55,565,443
1895
Exports 84,024,089 1895
Exports 3,720,854
1896
Exports 83,032,729 1896
Exports 55,106,005
1897
Exports 299,740.002 1897
Exports 50,438,737
Fxports 514,020,400 1898
1898
Exports 193,868,483
1899
Exports 471,557,021
Exports 146,255,962
Exports 455,116,984
1900
Exports 183,190,177
1901
Exports 584,298,012 1119
9
980
0090
9
3
1
Exports 208,110,704
1902
Exports 435.640.580 1902
Exports 139,096,145
1903
Exports 359,304.919
Exports 149,789,877
1904
Exports 448,483,505 1904
Exports 144.132,149
1905
Exports 339.074,209 1905
Exports 89,053,203
1906
Exports 467.408.952 1906
Exports 170,590.296
1907
Exports 412,952,776 1907
Exports 155,694,312
1908
Exports 613,560,325 1908
Exports 302,585,202
THE CHRONICLE
MAY 301908.1
1321
CLEARING-HOUSE CERTIFICATES ISSUED DURING FINANCIAL CRISIS OF OCTOBER 1907 TO JANUARY 1908.
Compiled by William J. Gilpin, Assistant Mana7er New York Clearinj House.
Clearing Houses.
First
Issue.
Last
Issue.
First Cancellation.
Final
Cancellation.
Aggregate
Issue.
$
(xSmall amt. still out) 1,500,000
Oct. 31'07 Dec. 23 '07
Atlanta
370,000
Nov. 4 '07 Dec. 18 '07 Jan. 15 '08(xSmall amt. still out)
Augusta, Ga
Feb. 6 1908
3,094,000
Oct. 28 '07 Dec. 16 '07 Nov. 16 '07
Baltimore
Jan. 24 1908
12,595,000
Oct. 28 '07 Jan. 3 '08 Jan. 10 '08
Boston
Mch. 28 1908
109,000
Nov. 6 '07 Jan. 11 '08 Dec. 3 '07
Brunswick
Jan. 25 1908
915,000
Nov. 1 '07 Nov. 12 '07 Nov. 30 '07
Buffalo
April 6 1908
115,000
Nov. 11 '07 Nov. 27 '07 Mch. 6 '08
Charleston
Jan. 17 1908
39,240,000
Oct. 28 '07 Dec. 17 '07 Dec. 14 '07
Chicago
Jan. 29 1908
3,220,000
Dec. 3 '07 Dec. 3 '07 Jan. 6 '08
Cleveland
617,200
Oct. 30 '07 Dec. 2 '07 Jan. 9 '08(xSmall amt. still out)
Danville, Va
650,000
Nov. 5 '07 Nov. 26 '07 Nov. 25 '07(xSmall amt. still out)
Denver
Jan. 27 1908
1,001,200
Oct. 28 '07 Dec. 26 '07 Nov. 2 '07
Des Moines
Jan. 7 1908
2,175,000
Oct. 30 '07 Dec. 12 '07 Nov. 30 '07
Detroit
Jan. 30 1908
345,000
Oct. 31 '07 Dec. 12 '07 Dec. 24 '07
Fort Wayne
Jan. 25 1908
39,100
Greensboro, N. C..* Nov. 4 '07 Dec. 6 '07 Nov. 26 '07
366,500
Nov. 11 '07 Dec. 5 '07 Nov. 15 '07(xSmall amt. still out)
Harrisburg
1,650,000
Jan. 17 1908
Nov. 4 '07 Dec. 17 '07 Nov. 29 '07
Indianapolis
282,500
Jan. 27 1908
Nov. 7 '07 Nov. 22 '07 Dec. 4 '07
Knoxville
208,000
Jan. 15 1908
Nov. 1 '07 Dec. .4 '07 Nov. 20 '07
Lincoln
183,000
Feb. 8 1908
Oct. 31 '07 Dec. 16 '07 Nov. 9 '07
Little Rock
2,088,000
April 28 1908
Oct. 30 '07 Dec. 27 '07 Nov. 15 '07
Los Angeles
2,590,000
Jan. 27 1908
Oct. 29 '07 Dec. 20 '07 Dec. 12 '07
Louisville
381,000
April 20 1908
Lynchburg, Va_ __* Nov. 18 '07 Dec. 18 '07 Jan. 13 '08
325,000
Nov. 4 '07 Jan. 4 '08
Macon
3,718,000
Oct. 28 '07 Dec. 30 '07 Nov. 28 '07
Feb. 18 1908
Milwaukee
Nov. 1 '07 Dec. 4 '07 Nov. 9 '07
1,830,000
Jan. .15 1908
Minneapolis
468,700
Nov. 2 '07 Nov. 29 '07 Dec. 2 '07
Jan. 29 1908
Nashville
Oct. 29 '07 Dec. 20 '07 Nov. 2 '07
5,266,000
Mch. 27 1908
New Orleans Oct. 26 '07 Jan. 30 '08 Nov. 14 '07
101,060,000
Mch. 28 1908
New York
Nov. 8 '07 Nov. 25 '07 Dec. 27 '07
1,250,000
Jan. 21 1908
Oakland
Oct. 29.'07 Nov. 26 '07 Nov. 7 '07
1,999,000
Jan. 10 1908
Omaha
13,695,000
Feb. 8 1908
Philadelphia ____ _ Oct. 26 '07 Dec..31 '07 Nov. 19 '07
Oct. 26 '07 Dec. 14 '07 Dec. 28 '07
7,445,000
April 6 1908
, Pittsburgh
Jan 13 1908
Oct. 30 '07 Nov. 18 '07 Dec. 3 '07
1,000,000
Portland, Ore
515,000
_ _* Oct. 28 '07 Nov. 9 '07 Jan. 2 '08
Jan. 23 1908
St. Joseph_ _
15,965,000
Feb. 5 1908
Oct. 28 '07 Dec. 16 '07 Dec. 31 '07
St. Louis
1,900,000
'07
Dec. 21 '07 Dec. 2 '07
Jan. 14 1908
Oct. .30
St. Paul
802,000
Feb. 17 1908
Salt Lake City__.:_ Oct. 30 '07 Dec. 4 '07 Dec. 11 '07
'07
12,339,000
San Francisco __ _ _* Oct. 29 '07 Dec. 24 '07 Nov. 20
265,500
Nov. 5 '07 Dec. 15 '07 Jan. 22 '08(xSmall amt. still out)
Savannah
1,675,000
M,cli. 1 1908
Nov 4 '07
Seattle
24,0,000
Jan. 15 1908
Oct. 28 '07 Nov. i6.'07 Nov. 29 '07
Sioux City
• * Nov. 19 '07 Nov. 19 '07 Jan. 10 '08 (xSmall amt.still out)
120,000
South Bend
Spokane ___ _ __ _* Nov. 1 '07 Nov. 25 '07 Nov. 27 '07 (xStnall amt. still out) 1,413,000
215,000
Nov. 1 '07 Dec. 31 '07 Jan, 2 '08 . Jan. 14 1908
__
Tacoma
42,000
Dec, 30 1907
.,_.
Dec. 20 '07
Nov 6 '07
Topeka
170,000
_April 25 1908
Nov23 '07 Dec. 2l:'07 Dec. 26 '07
Vicksburg
195,000
Jan. '3 1908
Nov 8 '07
Wheeling
91,000
Jan: 21 1908
Nov. 8 '07 Nov. 2.0 '07 Dec. 26 '07
Wichita
'Jan. 231908'541,000
NoV': 20 '07 Dec..12 '07 Dec. 5 '07
Youngstown
Maximum
Amount Date of Maximum
Outstand'g.
Amount.
996,400 December 5 1907
370,000 December 18 1907
2,784,000 Dec. 16 & 17 1907
12,595,000 Jan. 3 to 10 1908
65,000 December 24 1907
550,000 November 16 1907
115,000 Nov. '07 to Mch '08
38,285,000 December 18 1907
6 1908
3,220,000 January
450,000 Dec. 2 to 20 1907
400,000 November 10 1907
622,700 November 21 1907
2,030,000 Nov. 26 to 29 1907
345,000 Dec. 12 to 23 1907
34,100 December 10 1907
326,000 November 14 1907
835,000 November 19 1907
282,500 Nov.22 to Dec.4'07
160,000 December 1 1907
148,600 November 26 1907
1,859,000 December 24 1907
940,000 November 30 1907
381,000 December 18 1907
280,000 November 15 1907
3,548,000 December 30 1907
1,755,000 Dec. 4 to 20 1907
407,700 December 1 1907
3,287,000 Jan. 20 to 22 1908
16 1908
88,420,000 January
1 1908
590,000 January
1,544,000 November 13 1907
13,495,000 December 16 1907
7,445,000 December 14 1907
1,000,000 November 18 1907
350,000 November 14 1907
3 1908
10,578,000 January
1,525,000 Oct.30 to Dec.2'07
702,000 Nov.30toDec.11'07
12,339,000 December 24 1907
265,500 November 15 1907
b1,675,000
240,000 Nov. 16 to 29 1907
120,000 Nov. 19'07 to
Jan. 10 1908
1,413,000 November 27 1907
215,000 Nov.15toDec.31'07.
25,000 November. 16 1907
170,000 Dec. 21 to 26 1907
45,000 November 29 1907
91,000 November 29 1907
538,000 December 13 1907
248,2,79,700 219,857,500
Grand Total_
.Note.-In places Marked with an asterisk (*) the certificates in some eases, besides being used for settling balances
for the issue of subsidiary certificates meant fel. circulabetween banks at the Clearing House, were also used as the. basis'
tion. In other cases the certificates themselves ,were for small. denominations and served the purpose of currency
,
b Maximum not reported; therefore taken same as aggregate issue'.: x May 11908.
I
NO doubt a very considerable„proportion of the business this
5XtonetargiCommercialgnratslataus 'Week
has been,due to "bear" covering. The "bear" covering
(From our own correspondent.)
. ,. •
has not been confined to conSols and other high-class securi. ,.
tieS. It .has'extended to all departments of the Stock
- . London, Saturday, May .16 1008., '
This week there has been a very decided change both in, .E.xcharige., It has been very large, for example, in British
the temper and in the course of the stock markets. Instead railway stocks; in which there: was a large "bear" account,
of the, hefattation• and pessimism that thaw) reigned so long owing, partly, to the declinein trade, partly to the unfavorthere is quite a hopeful feeling in which all classes- share; iable traffic returns, and partly to ,the unsatisfactory relations
Money has'become rather abundant a,ndeeheap; and prices of employers and erriployed. Now; however; those who had
have.,,riso, in. all .departmerits.. „The Main - cause of Ali6 'sold 1.6hort have .become .thoroughly alarmed, and they are
if . !t;; • 4.1
changeoif:course, is this ease in the Money market. It is covering'and bringing nb.nut, a. deqjded rise.
truOltAlrance continues tO.7take'100'amounts of gold,
There has likevise been a denideckreco,ve,ry in ispeculative.
TosSiblo that She mak:go. Ont absorbing the metal 80CUAtiO such as De Beers' and Rie.Tintos.1' There has even
and it . hp,
for 10g0t tie ImIL;er. Rates are, qUiter,aflow in London as in
rf Wdecideiliecovelyiti SOuth'ANICan gold-mining share.
Part4,ari the Fronch banks are taking:gad Partly to prevent "Th'hnpression.'not' onlrfof the. oftiinary stock Exchanger:rateo Thilin till lower here ,Alid partly to employ the , n, but of the very best, observegs in the,cityl is that tb030,11
in one,fdrc:o(‘ i• :u'vantage.in , ezerin any, .Italy and else- pe simism had been carried too far hat money,now is certain
"eiffentiftfl and eheap.for a -10'firg time to coin' and thatwhere'.' After a while, however,7that.will stop.. Meantime,
in s1.44.04he gold shipinents;-;MbnevIS .quite abundant and th refore the improvement that has .seti in will-I/be ri&ini01!
cheat:F/1mA the conviction is sprending everywhere, that it Oi eftalways provided,•of ,courserithat sOtnething entirely.A
untgrpseen and untoward does not happen. 4Even in Paris, .,7T
willailitit)ire so :ill through :the s'inintor.
In.addition to I his, the speech of the Prime Minister when there has been More activity this week. PariS -is ,pessimist
intrOduCing the budget last week has itiade a,strong impres- ,partly becaUSeofthe state of Morocco, partly'because Of the'
sion...upon the business community. For the .moment it relations between -France and. Germany, and partly .because
seemed as if tit . budget staternent Would .be disregarded. of its tear of theAncome tax, and generally -because of the
But, Mr. Asquit h's, setting. out Of the iminense amount .of political condition of all .kinds.. But even .Paris has recogdebt that has lain redeemed during the past five years•and nized that the time for "bearing"' had conic to an end, and
the certainty that:ancither15 Millions sterling or thereabouts the PbettiraCcordingly hate been'closing out their accounts.
attracted wide In fierlin, likewise, there has been larger.. activity. The
will be redeemed in the current year,
notice. The , "bears" have consequently recognized that activity still is not very- great,.but there is iwre busine.ss and
stock has become scarce and that it is time for them to cover. Prices are higher. There is likewise a more hopeful feeling
fVoL. LXXXVI.
THE CHRONICLE
1322
The general impression is that until money bec.omes far more
The following shows the quantities of wheat, flour and
plentiful and cheap, much activity cannot be looked for, and maize afloat to the United Kingdom:
Last week.
1907.
This week.
1906.
besides that the borrowing on an enormous scale of all the
3,467,000
3,035,000
3,780,000
Wheat
qrs_ 2,910,000
governments,-impeHal, federal, provincial and municipal- Flour,
150,000
168,000
125,000
165,000
equal to
qrs_
355,000
550,000
580,000
Maize
will prevent any very decided speculation.
qrs.. 435,000
The low level of the Paris exchange upon London conEnglish Financial Markets-Per Cable.
tinues to give rise to a great many rumors. For example, it
The daily closing quotations for securities, &e., at London,
has been stated that Paris is preparing for a large Russian
loan. We believe, however, that the statement is quite un- as reported by cable, have been as follows the past week:
London.
founded. There must be in the long run, of course, a big
Week ending May 29.
Wed. Thurs. Frt.
Sat.
Mon. Tues.
24 7-16
Russian loan. But at the present time it is very unlikely, Silver, per oz
d 24 7-16 24 9-16 24 11-16 24 7-16 2434
new 234 per cents-- 8634
86 9-16 86 9-16 87 3-16 87 5-16 8734
firstly, because the Russian Government thinks that the Consols,
87 5-16 8734
For account
869-16 8634
8634
8734
credit of Russia has improved so much that it ought to be French Rentes (in Paris)_ _fr. 96.75 96.8734 96.45 96.17% - --95.90
87%
86%
87%
Imperial 4s
8534
86
8534
able to borrow at 4% or nearly, whereas the French bankers Russian
96;4
05%
96%
do
do New 5s
---95%
9534
are doubtful whether a 4% loan, unless it was brought out Amalgamated Copper Co 66%
65
65%
64%
66%
65
8%
834
8%
8%
8%
834
at a great discount, could be floated. Accordingly, the bAnaconda Bluing Co
81%
82%
Atchison
81%
Topeka
&
Santa
Fe
8
83
8334
334
Russian Government at present is borrowing at home and
93
Preferred
94
93
94%
93
94
90
91
90
91
hopes to be able to get all the funds it needs, at all events Baltimore & Ohio
8994
9034
87
Preferred
87
87
8634
87
87
until the autumn. Then it may reconsider its position. Canadian
162
Pacific,
16134 16234 161
162%
163
4434
46
4434
Moreover, the Paris market may then be more favorable Chesapeake & Ohio
44%
45
45
6%
Great 'Western
6%
6%
634
634
_ 7
than it is at present. The impression of the well-informed is Chicago
Chicago 5111w. & St. Patil...-140%
133
134
13434
133
137
that there will not be for some little time yet much recovery Denver & Rio Grande, corn_ 26%
22%
2.3%
25;4
25
2534
Preferred
66
6514
65%
59%
65
653-4
in the Parisexchange upon London,but that the gold with- Erie,
common
21%
23%
21%
2234
21%
2238
drawals will very soon cease if the recovery on the stock
First Preferred
4334
40
42
39
40
40%
Second Preferred
28
30
27%
29%
30
29%
exchange is maintained. Paris has now an enormous ac- Illinois
Central
144
139
133
139
137%
139
cumulation of unemployed money. The gold held by the Louisville
& Nashville
11234
109
107%
10934
107;4
108%
Central
17
1634
1634
16%
16;4
17
Bank of France, for example, this week is very nearly 1174
3 Mexican Kansas
& Tex., corn 30
28;(
28%
27
27
millions sterling. Therefore, if the recovery here is main- Missouri
Preferred
64
63
6134
62%
61%
63
National
RR.
of
Mexico4934
49
tained, Paris will follow the lead. It will probably begin
51
49
51
48%
Y.Central Hudson Riv ....107%
105%
1u5
105%
107
105%
to buy on a considerable scale, and after a while, if there is N.
N. Y. Ontario & Western-_ 41
40
40%
40
40%
40
a real increase in business, contango rates here will rise, and Norfolk & Western, common 72
71%
71%
71
71%
71%
Preferred
82
81
81
81
81
81
then it will be worth the while of the French banksto increase Northern Pacific
137%
134
134%
137;4
136%
135
the balances they are employing in London. In any case, aPennsylvanla
6234
61%
61%
62%
61%
61%
Company
aRea4ing
5834
56%
57%
53%
56%
56%
the best opinion is that money in London will remain both
aFirst Preferred
45
44%
44
44
44
44%
plentiful and cheap. At present moment the discount rate
aSecond Preferred
44
'43
43
43
43
43
Island
Co
Rock
19
17%
17
18
17%
17
for the very finest bills is only about 1 Y3%,while day-to-day Southern Pacific
. 88%
86%
85%
84%
86
87%
money is only 1M%.
Southern Railway, common_ 1834
16
17%
17%
16%
17
Preferred
45
45
44%
45%
47
44%
The India Council offered for tender on Wednesday 10 Union.
Pacific, COMMA- _,- 151%
147%
143%
149
145%
147%
lacs of its bills and the applications amounted to less than
Preferred
86%
85%
87
86%
86%
85%
S. Steel Corporation, corn. 39
37%
37%
38%
3734
37%
half a lac at is. 3 29-32d. per rupee. Applicants for bills U.Preferred
103
10434
102%
102%
103%
104
at is. 3 29-32d. per rupee were allotted in full.
Wabaah
11%
14
12%
13
12%
13
Preferred
21%
285%
27
25%
24%
The following return shows the position of the Bank of
27%
Extended 4s
54
5934
58%
56;4
59
59
England, the Bank rate of discount, the price of consols, &c.,
a Price per share.
b .£ sterling.
compared with the last four years:
1907.
1908.
May 15.
May 13.
.£
•
.£
Circulation
28,452,320 28,829,100
9,513,531
Public deposits- -- - 9,378,768
Other deposits
43,434,074 42,760,513
Governm't securities 14,574,906 15,321,023
29,041,320 30,281,074
Other securities- Reserve notes&coln. 27.026,049 24,589,791
Coln&bull..both Sep 37,029,269 34,948,891
Prop. reserve to lia47
bilities
p. c.
5114
4
Bank rate- - -p. c._
3
84 13-16
86 9-16
Consols, 234 p. c..-36 5-165.
2434d.
Silver
Clear.-house returns 200,535.000 253,893,000
1906.
1904.
1905.
May 16.
May 17.
May 18.
.£
.£
A:
28.664,440 28,795,790 28,395,425
7,722,430
9.415,014 10,946,060
42,097,378 41.022,355 40,001,080
15,977,281 15,749,522 17,229,978
32,043,530 28,439,533 25,356,519
21,387,285 26,234,002 23,027,049
31,601,725 36,579.792 32,972,474
40%
48 1-16
4134
4
•
2% .
3
89 9-16
90
90 5-16
26345. 25 11-16d.
30'4d.'
293,489,000 269,214,000 230,772,000
•
The rates for money have been as follows:
May 15.
Bank of England rate
3
Open Market RateBank bills-3 months- - -234
-4 months- - -- 23.i ©2%
234@2%
-6 months
25%
Trade bills-3 months-- --4 months-- - - 2% © 3
Interest allowed for deposits134
By Ioint-stock banks
By discount houses:
134
At call
2
7 to 14 days
May
3
234 @234
234 ©2%
234
3
334
May I.
Apr1,1 24.•
3
'
3 111;11
2% ©2 11-16 234 ©2 11-16
234@234 234@2 11-16
2 11-161525
%
234 og3
3
315334
334
334
134
134
1%
2
1 341
2
134
15%
2
Messrs.Pixley & Abell write asfollows under date of May14:
Gold-Paris again bought all the available gold in the open market, amounting
to about £300,000, the price being fractionally lower at 77s.
the checque•
which at one time showed a tendency to harden. being once moreIwo.'
down to 25s. 1134d;
and weak. Paris has further secured over £1,000,000 from New York. The amoun ''
expected from the Cape next week is £548,000. At the Bank £161,000 in
sovereigns has been received, of which £59,000 was from Australia and £80,000
from Egypt, and has lost, also in sovereigns, £170,000 to Paris. For the
week: Arrivals-South Africa, £457,000; West Africa, £22,000; West Indies, £14,000; Brazil, £14,000; Australia. £74,000; Malta. £10,000; total, £591,000. Shipments-Bombay, £108,400; Calcutta, £5,000; total, £113,400. For the month
of April: Arrivals-Germany, £721,000; West Africa, £159,000; South Africa,
£3,429,000; India, £177,000. Shipments-Germany, £53,000; India, £377,000;
France, £2,671,000: Argentina, £288,000.
The quotations for bullion are r eported as follows:
GOLD.
London Standard.
Bar gold, tine, oz- --- _
U. S. gold, oz-- ----German gold col-n, oz_
French gold coin, oz..
Japanese yen
May 15.
SILVER.
May 15. May 71
d.
s. d.
a. S. I London Standard.
77 1034 77 1034 1Bar silver, fine, oz-24%
-2434
76 5
76 5 1 " 2 mo. delivery
26 346
76 5
76 5 1Cake silver, oz
nom.
76 5
76 5 I Mexican dollars
76 5
76 5 1
May 7.
d.
24 3-1$
2434 '
2634
mm.
The following shows the imports of cereal produce into
the United Kingdom during the season to date, compared
with previous seasons:
ThErty-six weeks.
Imports of wheat
Barley
Oats
Peas
peans
Indian corn
Flour
IMPORTS.
1906-07.
1907-08.
cwt66,599,000 58,641,700
17,235.200 16,507,100
8,407,000
7,393,400
1,188,980
1,284,030
630,240
836,890
28,537,500 33,864,200
9,701,900
10,627,400
1905-06.
1904-05.
56,404,500 71,740,800
16,367,300 16,956,30()
9,129,700
9,559,600
1,247,495
1,518,0.13
509,670
1,205,770
32,075,600 30.088,800
10,454,900 8,255,220
Supplies available for consumption (exclusive of stock on
Sept. 1):
Wheat, imported cwt
Imports of Hour
Sales of home-grown
Total
Average price of wheat, week
Average price, season
1907-08.
1906-07'.
1005-06.
1004.05.
66,599,000 58,641,700 56,404,500 71,740,800
9,701.900 10,454,900
10,627,400
8,256,220
27,389,399 20,733,735 25,217,919 12,078.196
104,615,799 89,977,335 92.077,319 92,074,216
27s. Od.
29s. 1()d.
32s. 4d.
31/s. 8d.
28s. 3d.
26s. 55.
33s. 3d.
30s. 6d.
mmercial and(:.flitisce114rteurits*tews
Breadstuffs Figures Brought from Page 1354.-The statements below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since Aug. 1 for each of the last three years have been:
Receipts atChicago -- - Milwaukee-.
Duluth_
Minneapolis_
Toledo _
Detroit- _ -_
Cleveland_ St. Louis_ _ _
Peoria - - _
Kansas City_
Tot.wk.'08
Same wk.'07
Same wk.'06
Flour.
Wheat.
Barley.
Oats.
Corn.
Rye.
bbls.1961bs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.481bs. bu. 56 lbs.
176,549
16,000
282,200
143,902 1,522,097 2,020,945
63,175
21,600
174,600
17,000
163,200
252,000
73,250
33,688
1,452
12,020
244,171
55,720 ' 18,960
1.059,610
28,500
140,880
2,0010
33,000
48,100
36,200
2,400
39,468
25,126
71,760
1,394
6.314
• 88,946
13,280
8,213
6,000
47,860
11,700
705,680
320,600
359,997
22,050
24.,000
320,100
18,000
192,000
252,100
69,000
503,700
386,678
310,213
443,239
2,697,5533,370,071
1,904,121
2,946,325
2,755,723
4,848,644
3,074,717
2,780,322
2,731,031
555,086
755,843
344,946
98,248
86,560
42,191
Since Ann. 1.
1907-08_ -- 15,237,320 191,597,698 154,407,636 162,745,302 57,812,256 6,158,387
1996-97,- 17,495,423 2)11,803,476 172,797,492 175,-,203,809 63,095,340 7434,086
1905-06_
16,997,877 204,405,367 155,083,117 193;369,955 71,058,103 7,262,046
Total receipts of flour and grain at the seaboard ports for
the week ended May 23 1908 follow:
Receipts atNew York
Boston
Portland, Me
Philadelphia _ _
Baltimore
Richmond - - _ _
New Orleans *_ _
Newport News- - - _
Norfolk
Galveston
Mobile
Montreal
Flour,
Dbl..
190,634
30,932
429
71,064
39,571
2,810
14,857
1,039
714
3,850
28,839
Total week- - _-- 384,739
Week 1907
386,164
Since Jan. 1 1908_ _7,079,532
Since Jan. 1 i907 7.955,287
Wheat,
bush,
575,400
26,000
96,000
614,567
129.721
38,154
Corn,
bush.
140,050
53,006
Oats,
bush.
583,500
63,716
Barley,_ ..
bush.
36,000
27,923
29,503
32,226
46,500
20,330
108,505
46,132
20,400
100,000
8,000
17.000
4,000
7,000
132,045
:,
1.)
R01/3
bush.
2,925
2,534
16,512
48,554
81,57$
- ---970,807 125,578
492,583
23,001
2,872,824
762,262 1,426,581
55,346
49,618
3.008,582
26,521,600 25,104,895 16,671,4002.109,5761,207,055
32,712,293 51,720,575 21,975,4122,326,465 780,891
1,375,982
* Receipts do not Include grain passing through New Orleans for foreign ports
on through bills of lading.
The exports from the several seaboard ports for the week
ending May 23 1908 are shown in the annexed statement:
Wheat,
Exports frombush.
New York
10
6
996:3
Portland. 51e- -- - 25
Boston
Philadelphia
321,015
Baltimore-- _32,000
New OrleansNewport News_
48,000
Galveston
Mobile
1,233,301
Montreal
Norfolk
Corn, Flour,
bbls.
bush.
87.280 54,319
429
110 28,202
1,080 35,877
22.528 37,330
3,756
3,330
20
7:3
70
30
4
0
1
7.000
12,000
Oats,
bush.
4,570
_R_y_e_ .:
.b
.
i.s!i_.
.t
Peas, Barley.
bush.
bush.
1,143
80 25
'
-- -----------550 ---------750
_._
_
- 720
3:
,8
(3)5
3(10
09
23,350
_7_14
46,075 2-5,75.8
Total week- --- 2.318,175 161,848 197,898
Week 1007
1,819,620 1,297,484 175,626
5,200 25,714 40,075 29,101
118,281 101,393 26,475 13,501
MAY 30 1008.]
THE CHRONICLE
The destination of these exports for the week and since
July 1 1907 is at below:
Wheat
-Flour
1323
Per
When
Cad. Payable.
Name of Company.
Miscellaneous (Continued).
Preferred B (guar.)(No. 12)
18% June
American Sugar Ref., corn. & pf.(quar.) 1% July
American Tobacco, common (guar.).- 2% June
Common (extra)
June
5
Associated Merchants, common (guar.) 1% June
Barney & Smith Car pref. (quar.)
June
2
Borden's Condensed Milk, pref. (quar.)- 1% June
Butterick Company
June
Calumet & Becks Mining (guar.)
June
$5
Central Leather. Pre/ (guar.)
July
Childs Company,: ommon (guar.)
1% June
Total
197,898 10559,404 2,318.175 102459,249 161,848 45,338,298
Preferred (guar
June
1%
Total 1906-07
175,626 10273,190 1,819,620 82,448,530 1.297,484 69,460,422 Consolidated Gas 3f N. Y.
June
1
Diamond Match ;quar.) (qum%)
June
The world's shipments of wheat and corn for the week du
Pont(E.I.)deNemoursPowd.,com.(gu.)
June
ending May23 1908 and since July 1 in 1907-08 and 1906-07 Eastman Kodak, common (quar.)_- - July
Preferred (quarterly)
1% July
are shown in the following:
Federal Mining & Smelting, pref. (qu.) 1% June
General Chemical, common (quar.)__
June
1
General Electric (guar.)
Corn.
Wheat.
July
2
International Silver, preferred (guar.)__ _
1
July
Exports.
1907-08.
1907-08.
Kings County Elec. Lt. & Power (quar.) 2
1906-07.
1906-07.
June
Laclede Gas Light, common (quar.)_ _ _ _
1% June
Week
Week
Since
Preferred
Since
Since
Since
2% June
May23.
May23.
July 1.
July 1.
Mackay Companies, corn. & pref. (guar.) 1
July 1.
July 1.
July
Massachusetts Gas Companies, pref_ _ _ _
2
lune
Bushels. Bsuhels.
Michigan State Teleph., corn.(Nos.1&2) 2
Bushels. Bushels. Bushels.
Bushels.
June
• North Amer. 3,233,000 184,697,000 150,234,000
68,000 44,654,000 65,752,000 National Biscuit, common (quar.)
1% July
Russian _ _ _ _ 688,000 58,872,000 84,584,000 552,000 24,595,000 16,383,000 National Enam. & Stamp., pref.(quar) 1% July
Danubian - 200,000 25,811,000 62,616.000 926,000 45,942,000 22,760,000 National Lead, corn. (quar.)(No. 18)- 1% July
Argentine _ 2,832.000 107,863,000 92,664,000 3,136,000 51,841,000 78,083,000
Preferred (guar.) (No. 66)
1% June
Australian_
Philadelphia Electric
15,828,000 20,168,000
234 June
Oth.countr's. 216,000 24,020,000 27,680,000
Quaker Oats, common (quar.)
1% July
Common (extra)
-34 July
Total
7,169,000 117,001,000 437,946.000 4,682,000 167,032,000 182,978,000
Preferred (quar.)
134 May
Quincy Mining
June
$1
Railway Steel Spring, pref. (guar.)
1% June
The quantity of wheat and corn afloat for Europe on dates Rubber
Goods MIg., pref.(guar.)(No.37)
n June
mentioned was a.s follows :
Safety Car Heat. cfc Ltg.(guar.)
2
July
Sears, Roebuck & Co., pref. (guar.).- - - July
Sloss-Sheffield Steel dr Iron, corn. (qu.)_
1
June
Wheat.
Corn.
Standard Oil (quar.)
$9 June
Street's West. Stable-Car Line, pref
3% July
United
United
United Bank Note Corp., pref. (quar.)- 1% July
Kingdom.1 Continent. Total:
Kingdom. Continent. Total.
United Cigar Mfrs., pref. (quar.)- - - - -- 1% June
U.S. Cast Iron Pipe & Fdy., pf. (qu.). _
13( June
Bushels. Bushels. Bushels.
Bushels. Bushels. Bushels.
United Slates Leather, pref. (guar.)
134 July
May 23 1908. 23,920,000 14,960,000 38,880,000 6,545,000 8,330.000 14,875,000
S. Steel Corp., corn.(qu.)(No. 18)- 34 June
May16 1908-- 23,040,000 16,160,000 39.200,000 5,440,000 7,055.000 12,495,0(0 U.preferred
(quar.) (No. 28)
1% June
May 25 1907. - 28,560,000 20,240,000 48,800,000 4,920,000 4.960,000 9,880.000
Waltham Watch, common
July
Preferred
3
June
UThe visible supply of grain, comprising the stocks in
a Transfer books not closed. b Less income tax.
Since
Since
July 1
Week
July 1
Week
Export.? for week and May 23.
1907.
1907. May 23.
Since July1 tobush.
bush.
bbls.
bbls.
United Kingdom--119,051 5.983,650 1,491,398 5,663,049
Continent
40,217 2,315,171 826,777 45,293,246
So. dc Cent. Amer
399,497
12,585 684,823
West Indies
21,127 1,244,595
19.607
Brit. No. Am.Cols-- 4,855
78,008
Other countries--- 83,850
63 253,157
Since
Week
July 1
May 23
1907.
bush.
bush.
29,329 20,682,269
105,395 23,048,995
1,536
200,337
25,478 1,299,316
110
78,381
, 29,000
granary at the principal points of accumulation at lake and
seaboard ports May 23 1908 was as follows:
New York--------__
Boston
Philadelphia
Baltimore
New Orleans
Galveston
Montreal
Buffalo
Toledo
Detroit
Chicago
Milwaukee
Fort William
Port Arhtur
Duluth
Minneapolis
St. Louis
Kansas City
Peoria
Indianapolis
On Lakes
On canal and river....
Total
Total
Total
Total
Total
Total
Total
Wheat,
bush,
858,000
379,000
460,000
188,000
87,000
763,000
1,339,000
231,000
143,000
3,936,000
309,000
1,786,000
2,014,000
4,001,000
4,414.000
374,000
879,000
10,000
166,000
1,354,000
381,000
May 23 1908- -24.072,000
May 16 1908,-26,487,000
May 25 1907--50,797,000
May 26 1900--31.963.000
May 27 1905- - 21,126,000
May 28 1904- 21,575,000
May 30 1903- -24,568,000
Corn,
bush,
125,000
32,000
4,000
196,000
86,000
14,000
39,000
619,000
108,000
101,000
1,475,000
32,000
10,000
22,000
26,000
26,000
25,000
698,000
Oats.
bush.
420,000
13,000
79,000
131,000
126,000
104,000
907,000
161,000
35,000
4,212,000
39,000
60,000
208,000
170.000
28,000
528,000
50,000
442,000
198,000
Rye,
bush.
14,000
Barley
bush,
42,000
16,000
10,000
12,000
1,000
10,000
141,000
2,000
30,000
14,000
75,000
385,000
1,000
223,000
235,000
635,000
21,000
3,638,0)0
7,909,000
250,000 1,617,000
4,175,010
8,447,000
293,000 1,750,000
5,238,030 11,040,000
705,000 1,057,000
2,309,000 10,123,000 1,611,000 1,207,000
4,233,000
937,000 1,129,000
9,152,060
3,740,000
956,000 2,046,000
5,738,000
4,886,000
4,802,000 1,072,000
930,000
DIVIDENDS.
The following shows all the dividends announced for the
future by all large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
Cent.
When
Payable.
Book? Closed.
Days Inclusive.
Railroads (Steam).
Atch. Top. & Santa Fe, corn. (No.15).
2% June
1Holders of rec May 8
Atlantic Coast Line Co. (guar.)
2
June 10 May 30
June 9
to
Atlantic Coast Line RR
2% July 10 June 23
to
July 10
Boston & Albany (guar.)
2% June 30 Holders of rec. May 29
Boston dc Lowell
4
July
to
2 May 25
May 30
3
Boston Revere Beach & Lynn
July
1
1
Buff. & Susq., pf. (quar.)(No. 24)
June
1 Holders of rec. May 18
Chestnut Hill (quar.)
June 4 Holders of rec. May 20
Chicago de North Western, common
3% July
1 Holders of rec. June 6
2
Preferred (quar.)
July
1 Holders o rec. June 6
13 June
Cin. N.0. dc Tex. Pile., pref. (quar.). 1 May 17
May 31
to
Delaware cfc Hudson Co. (guar.)
28% June 15 Holders of rec. May 25
2% July
Detroit & Mackinac, preferred
1 June 16
July 1
to
Mexican Southern
3b
May 29
6
New York Philadelphia & Norfolk
June
1 Holders of rec. May 15
Norfolk & Western, common
2
June 18 Holders of rec. May 29
Northern Pacific (guar.)
1% Aug. 1 July 11
to
Aug. 2
Phila. Germantown & Norristown (guar) 3
June 4 Holders of rec. May 20
Pitts. Bessemer & Lake Erie, pref
June
3
1 Holders of rec. May 15
Southern Pacific, com.(quar.)(No.7)July
1
Preferred (No. 8)
3% July 15 July 1
to
July 14
Union Pacific, common (quar.)
2% July
1 May 28 to
June 16
Street and Electric Railways
American Railways (guar.)
1% June ,15 May 30
to
June 4
June
Columbus(0.) fly., com.(quar.)(No. 20)
1 Holders of rec. May 15
Grand Rapids fly., common (quar.)- - - June
1
1 Holders of rec. Mch. 15
Kansas City lty. dr Light, pref. (quar.) 1% June
1 May 20
to
May 31
Norfolk Railway & Light
June
5 May 26
to
June 5
Northern Ohio Tree. & Light (guar.)- June 15 June 2
to
June 15
Rochester fly. & Lt.., pref. (quar.)-- - 134 June 1 Holders of rec. May 25
Trust Companies.
Carnegie (No. 1)
June
1
3
Miscellaneous.
Adams Express
1 May 19
June
$4
to
May 31
American Can, preferred (guar.)
July
1 Holders of rec. June 17
American Caramel, preferred (quar.)- 2
July
1 June 12
to
July 1
American Chicle, common (monthly)- - - June 20 June 16
1
to
June 21
American Cotton 011, preferred
1 May 17
June
3
to
June 1
American Express
1 Holders of roe. May 29
July
3
American Radiator, common (quar.)_
1
to
June 30 June 21
June 30
American Shipbuilding, corn. (quar.)__
June
1
1 May 19
to
June 1
Amer.Smeiters Securities, pref. A (quar.) 134 June
1 May 23
to
June 1
Books Closed.
Days Inelu.slve.
Corn
1 May 23
to
June 1
2 June 3
to
July 2
1 Holders of rec. May 15
1 Holders of rec. May 15
1 May 28
to
June 1
1 May 14
to
June 2
15 June 6
to
June 15
1 Holders of rec. May 20
25 Holders of rec. May 25
1 Holders of me. June 10
10 June 6
to
June 10
10 June 6
June 10
to
15 Holders of rec. May 20
15 June 1
to
June 15
15 Holders of rec. June 5
1 May 30
to
June 15
June 15
1 May 30
to
15 Holders of rec. May 29
1 Holders of rec. May 22
15 Holders of roe. June 6a
1
May 31
to
1 May 22
June 15
to
15 June 7
June 15
to
15 June 7
1 Holders of rec. Junel3a
May 31
to
1 May 17
June 1
to
1 May 17
15 Holders of rec. June 29
July 1
1 June 11
to
June 16
1 June 13
to
15 May 23
May 26
to
15 May 23
June 1
to
15 Holders of rec. July 3
15 Holders of rec. July 3
30 Holders of rec. May 20
15 May 26
to
June 3
20 June 11
to
June 21
15 Holders of roe. June 6
1 Holders of roe. June 12
1 Holders of rec. Junel7a
1 Holders of roe. May25a
15 Holders of rec. May 20
1 June 21
to
July 1
1 June 17
July 1
to
1 Holders of rec. May 29
1 May 12
May 31
to
1 Molders of rec. June 10
June 30
to
30 June 11
June 1
1 May 7
to
1 Holders of roe. June 10
1 Holders of rec. May 16
Auction Sales.-Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. Muller Sc Son:
Stocks.
234 Commonwealth Tr. Co.
of New York
75
90 Industrial Tr. Co. of Provldence, R. I
200
50 Amer. Brake Shoe & Fdry.
Co. common
3934
100 Acker, Merrall & Condit Co. 14
100 State Bank, N Y. City,
201 to 230
95 Greenwich Ins. Co
5
150 Union Typewriter Co. corn. 5534
25 Union Typewriter Co. 2d p11023.4
50 Carnegie 'Trust Co
150
Bonds.
$500 Computing Scale Co. of
America 6s
91%
$5,000 Santa Fe Raton & East.
RR. 1st M. 5s 1935. M. & S. 61
5,000 Pocahontas Co_ _
50 Midland Ry. Co_
$79,500 Wash. Cin. & St.
L RR. lsts
$1,000 lot
1 Tin box, said to
contain maps, profiles,
surveys, &c., of the
Ches. & Western fly$6,000 Col. Spgs. & Cripp
- e Ck.
Dist. fly. cons. 5s 1942
9034
Bonds.
$2,000 Portland Elec. Co. 1st
$1,000 Inter-Boro. Realty Co.
5s1926
9434
profit-sharing bond. Paid
$3.000 Helena Lt. & fly. Co. 5s
thereon, $360
1184
1925
868%
Imports and Exports for the Week.-The following are
the imports at New York for the week ending May23; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
For week.
Dry Goods
General Merchandise
Total
Since January 1.
Dry Goods
General Merchandise
Total 21 weeks
1908.
1907.
1906.
1905.
$1.647,629
10,587,343
12,709,52.5
10,054.654
$2,576,706
11,457,166
$2,414,288
10,631,092
$12,234,972 $12,764,179 114,033;872 $13,045,380
$52,231,432 $80,266,207 $68,990,665 $59,432,990
191.145,802 289,647,174 243,884.703 242,758,978
$243,477,234 $369,913,381 $31-2,875,368 $302,191,968
The following is a statement of the expoqs (exclusive of
specie) from the port of New York to foreign ports for the
week ending May 23 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
For the week
Previously reported
Total 21 weeks
1908.
1907.
1906.
1905.
$11,142,737 $9,758.632 $12,187,243 $11,693,500
254,183,666 239.318,942 249,124,221 212,159,782
-5265,326,403 $249,077.574 $261,311,464 $223,853,282
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Exports.
Imports.
Gold.
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Total 1008
Total 1907
Total 1006
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Total 1908
Total 1907
Total 1906
Since Jan.1
$2,520,412
$5,734,790 21,598,379
6,088,000 6,088,000
10,500
870.990
2,300
5643.475
9,735
Week.
Since Jan.I
59,651 $3,432,514
681,315
15,785
61,728 8,108,664
3,502
210,374
32.045 1,203,353
9,093 1,447,933
11,833,290 131,656,291 $116,019 $10,099,938
4,250 1.867,696
19,518 5,469.820
352,600 5,293,122 2.318,579 43,818,778
$428,745 $14,877,460
213,000
980,000
197,349
3,000
350
$641.745 516.058,159
755.136 16.202,355
1.154.436 23,003,820
*2,000
4.118
8.855
5,866
$38,401
52,665
63,043
111,720
412.104
340,621
226,325
$20,839 $1,244,879
6.720
720,555
50.141
986,323
were
Of the above imports for the week in 1908, $
American silver coin. Of
American gold coin and $
the exports during the same time, $565,500 were American
gold coin and $
were American silver coin.
Statement of New York City Clearing-House Banks.-The
detailed statement below shows the condition of the New
York City Clearing-House banks for the week ending May 23.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, however, a departure
was made with the statement for Feb. 8, so that in addition
to the averages for the week the actual figures at the end of
the week are now given.
We onitt two ciphers (00) in all cases.
Banks.
005 omitted.
Bank of N. Y-Manhattan CoMerchants' - - -Mechanics' - - - America
Phenix
City - - ---Chemical
Merchants' Ex_
Gallatin- Butch. & Drov_
Greenwich
Amer. Exch.- Commerce
Mercantile-- _- _
Pacific
Chatham
Peoples'
Hanover
Citizen's Cent
Nassau
Market & Fult'n
Metropolitan Corn Exchange.
Imp.& Traders'
Park
East River- -- Fourth
Second
First
Irving Nat. Ex.
Bowery
N.Y. CouniyGerman-Amer _
Chase
Fifth Avenue
German Exch.Germania - _
Lincoln
Garfield - ---Fifth
Metropolis
West Side
Seaboard
Liberty
N.Y. Prod.Ex_
State
14th Street-
[VOL. Lxxxvi.,
THE CHRONICLE
1324
Capital. Surplus.
2,000,0
2,050,0
2,000,0
3,000,0
1,500,0
1,000,0
25.000,0
3,000,0
600,0
1,000,0
300,0
500,0
5,000,0
25,000,0
3,000,0
500,0
450,0
200.0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
1,500.0
3,000,0
250,0
3,000,0
1,000,0
10,000,0
2,000,0
250,0
500.0
750,0
5,000,0
100,0
200,0
200,0
1,000.0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
3,168,7
3,288,9
1,613,3
3,704,8
4,606,1
530,0
24.886,9
5,606,3
528,3
2,411,4
141,8
740,4
5,136,8
14,956,3
2,435,4
829,4
1,000,4
464,1
9,286,3
1,190,0
366,4
1,571,7
1,090,3
5,068,9
7,258,7
9,265,0
118,8
3,321,3
1,629,2
20,085,4
1,267,6
772,7
1,079,8
617,6
4,991,1
1,987,4
870,2
' 933,4
1,175,9
1,227,2
442,5
1,893,9
713.6
1.572,9
2,394,4
670,8
705,6
366,1
Loans.
Average.
Specie
Legals. Deposits. ReAverage. Average. Average. ave.
-$
21,283,0 4,361,0 1,133,0 20,710,0 26.5
24,100,0 15,730,0 1,580,0 37,270,0 46.4
21,742,0 4,118,0 1,858,0 23,041,0 25.9
23.854,0 4,444,0 1,794,0 24,169,0 25.8
27,493,4 7,001,6 2,125,9 31,325,1 29.1
371,0
7,395,0 1,451,0
6,513,0 27.9
194,925,5 71,130,2 4,422,0 214,126,1 35.2
31,761,1 7,044,1 1,987,1 32,736,0 27.5
237,5
0,911,9 1,815,6
7,507,4 27.3
8,114,2 26.8
730,7
9,838,7 1,347,8
099,2
2,061,4
2,394,9 32.8
86,5
250,0
6,044,3 26.5
5,540,2 1,354,7
33,510,1 5,860,6 1,454.5 27,515,3 26.5
168,913,7 27,584,8 12,729,9 155,308,7 25.9
272,9
5,557,6 26.8
9,840,6 1,222,1
887,4
498,2
3,744,7 36.9
3,453,5
952,8
6.732,9 26.3
824,0
6,376,9
2,161,2 35.8
53,4
1,638,4
723,1
62,700,5 12,340,1 9,965,8 76,487,8 29.1
324,3 19,784,8527.7
19,929,5 5,172,0
4,906,8 25.0
790,7
4,574,6
438,8
8,635,4 39.9
798,1
7,225,1 2,649,9
112,6 12,125,6 26.2
11,671,9 3,001,1
44,049,0 10,641,0 2,769,0 52,013,0 25.7
26,690,0 5,594,0 1,617,0 25,149,0 28.6
79,897,0 22,071,0 2,860,0 92,330,0 27.0
135,8
1,477,2 38.0
426,6
1,170,3
21,867,0 3,758,0 2,006,0 22,152,0 26.0
459,0 10,799,0 28.0
9,692,0 2,572,0
106,344,1 32,742,5 1,149,8 108,948,1 31.1
17,423,6 3,766,9 1,019,6 18,208,1 26.2
72,0
3,365,0 22.5
688,0
2,357,8
7.568,8 24.7
624,8
7,202,9 1,249,6
174,4
3,515,3 25.6
725,7
3,776,5
76,403,4 21,432,8 2,879,2 88,266,7 27.5
12,459,8 2,730,2 1,252,3 14,176,6 28.0
815,0
4,138,5 26.3
275,0
3.810,5
5,745,5 25.6
574,3
898,6
4,908,6
719,9 13,045,6 25.3
12,525.9 2,587,0
223,9
0,871,5 27.3
6.759,9 1,653.4
384,1
3,515,8 28.6
621,6
3,104,6
12.141,5 1,777.0 1,477,7 12,589,6 25.8
271,0
967,0
4,820,0 25.6
4,297,0
19,211,0 4,849,0 1,165,0 22.695,0 26.5
558,5 14,285,8 26.4
15,131,8 3,220,7
1,764.4
183,0
7,279,5 26.7
6,196,4
212,0 12,455,0 25.5
10,013,0 2,966,0
528,6
4,594,9 29.1
809,1
4,273,3
To day being a legal holiday, the statement for this week
was issued Friday afternoon. For the State banks and trust
companies in Greater New York not reporting t9 t)ae Clearing House it shows an increase in loans and investinthit§ of
$5,375,000 as compared with last week's figures, an lincrease
in specie of $2,587,200, an increase in legals of $71,500, an
increase in total deposits of $12,741,100, an increase in reserve on deposits of $9,534,000 and an increase in net deposits of $8,299,100.
The Clearing-House banks' statement of averages for the
week ending May 29 is summarized on the following page.
The actual figures on Friday morning show the following
changes from May 23: Decrease in loans of $1,411,400; decrease in specie of $14,618,200; increase in legal-tenders of
$2,392,800; decrease in deposits of $12,830,900; decrease in
circulation of $137,700, and decrease in surplus reserve of
$9,017,675.
Reports of Non-Member Banks.-The following is the
statement of condition of the non-member banks for the
week ending May 23, based on average daily results:
We omit two ciphers (00) in all cases.
Banks.
Capital.
Surplus.
N. Y. City.
Boroughs of
Man.&Brx
Wash Hgts_
100,0
185,0
Century - _ _
200,0
138,0
Colonial _- 100,0
489,2
Columbia -- 300,0
452,3
Fidelity _- 200,0
169,4
Jefferson-- _
500,0
669,6
Mt. Morris_
250,0
257,2
Mutual - - - - 200,0
307,2
19th Ward_
300,0
468,5
Plaza
100,0
384,9
23d Ward
100,0
176,0
Union Ex- _
750,0
833,8
Yorkville - 100,0
385,0
Coal&I.Nat
500,0
668,6
NewNethI'd
200,0
208,5
Batt.Pk.Nat 200,0
129,8
Borough of
Brooklyn.
Broadway _
150,0
379,6
Mf'rs Nat_ 252,0
755,2
Mechanics' . 1,000,0
767,4
Nassau Nat. 750,0
928,1
Nat. City.
300,0
551,7
Jersey City.
First Nat ._
400,0 1,199,5
Hud.Co.Nat 250,0
737,0
Third Nat_ - 200,0
360,6
Hohot,en.
First Nat ._
220,0
597,2
Second Nat. 125,0
197,1
-312,055,4
29.3
08,600,8
1219,047,9
1290,923,3
159,984.0
124,350,0
Totals. Average
Tot. May 23 7,747,0 12,396,5
Tot.
16 7,747,0 12,396,5
1220,089.3 311,000,9 09,813,5 1302,135,1 29.2 Tot. May
Actual figures May 23
May 9 7,747,9 12,396,5
On the basis of averages,"circulation" amounted to $57,267,200 and United States
deposits (Included in deposits) to $30,673,300; actual figures May 23, circulation:
$57,226,700; United States deposits, $28,549,600.
The statements compiled by the State Banking Department, together with the totals for the Clearing-house banks,
both the averages for the week and the actual figures at the
end of the week, are shown in the following table. In the
figures for State banks and trust companies all of these institutions in Greater New York are included.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Week ending May 23 1908.
Reserve on P.C.
Loans and
Deposits. of ReDeposits.
Legals.
00S omitted. Investments. Specie.
serve.
Clearing-House
Ban.cs--Actual 1,220,089,3 311,000,9 09,813,5 1,302,135,1 380,814,4 29.24
+11.209,5 -5,370,2 +564,0 +15,657,6 -4,800,2
Clearing-House
Banks-Avge _1,219,047,9 312,055,4 68,660,8 1,290,923,3 380.716,2 29.35
+20,702,7 -2,946,2
+17,927,9 -1,925,1 -1,021,1
State Banks317,440,4
95,625,8 30.8
57,630,1 20,003,5
265,911,5
Average
+698,0
-551,3
+613,0 -117,5
+129,1
Trust Companies814,719,5 268,261,3 33.5
5,799,1
45,501,7
782,114,1
Average
+70,5 +11,044,5 +10,077,1
+527,4
+129,0
State Banks and
Trust Co's-not
908,259,5 292,153,8 32.8
49.719,6 12,005,7
in Clear.-House 861,385,0
-550,1 +104,8 +11,099,2 +7,617,7
-171,2
Loans,
Disc'ls
and
Investments.
Specie.
Legal
Tender
and
Bank
Notes.
Deposit with
Clearing
Agent.
123,4
58,8
88,7
117,5
413,0
171,8
924,0
400,0
161,0
28,8
288,2
209,0
552,5
35,0
311,5 , 730,0
30,4
365,1
497,0
257,0
227.1
55,2
719,6
275,0
290,8
658,0
656,0
208,0
123,0
14,0
05,3
59,8
929,7
1,477,7
3,997,8
4,926,0
955,2
3,206,0
2,195,8
3,096,5
4,437,3
3,662,0
1,601,9
5,552,5
3,365,1
4,059,0
1,353,0
899,6
12,2
19,6
328,4
450,0
48,1
29,5
223,0
19,3
54,6
223,0
170,8
710,7
52,9
635,0
117,0
126,5
2,304,8
5,579,9
9,353,8
6,713,0
3,042,0
10,8 479,2
740,3 151,5
273,5 1,043,4
317,0 581,0
128,0 694,0
4,256,7
2,399,2
1,723,2
213,8
123,3
57,8
334,6
38,9
104,9
2,300,0
1,790,8
120,2
71,9
23,0
50,7
•
328,9
916,2
1,100,4
1,171,0
841,0
Net'
Other
Banks, Deposits
i
637,4
128,7
68,9
5,0
351,6
3-13-oU)
45,0
15,0
847,9
1,796,0
5,055,7
6,147,0
868,4
2,940,1
2,909,4
3,702,8
4,762,4
4,150,0
1,887.3
6,003,1
4„246,7
3,950,0
1,259,0
785,9
250,2 3,040,0
83,2 6,387,3
125,6 11,802,0
6,929,0
452.0 5,443,0
1,798,5 1,320,0 6,162.6
140,3 253,9 2,162,4
449,2
65,0 1,970,6
150,0
79,1
214,3 2,109,1
97,5 1,933,1
85,791,1 5,295,2 6,732,3 12,870,6 4,687,4 99,262,8
85,600,5 5,160,3 6,096,9 14,334,7 4,790,5 100012,0
85,382,6 5,187,0 6,423,9 15,820,8 4,365,9 10,073,7
New York City, Boston and Philadelphia Banks.Below is a summary of the weekly totals of the ClearingHouse banks of New York City, Boston and Philadelphia.
The New York figures do not include results for non-member
banks.
We omu two ciphers in all these figures.
Banta.
Capital
and
Surplus.
Loans,
Specie.
Legal*
Deposits. a Ctrculotion
Muffing*
New York
May 2.. 284.334,0 1190.455,2 308,045,0 68,747,7 1257,759,2 58,248,6 1,660,641,4
May 9_ 284,334.0 1196,342,2 313.304.5 08,160,2 1270,324,0 57,337,6 1,531,496,6
May 16_ _ 284,334,0 1201,120,0 313.980,5 09,681,9 1270,220,6 57.200,2 1,548.310,0
May 23.. 284,334.0 1219,047,0 312,055,4 138,660.8 1296,923,3 57,267.2 1,607,027,0
May 29.. 286,418,7 1215,118,5 298,729,8 70,627,4 1285.788,8 57,150,4 1,281,153.5
Boston,
May 2._ 44,030,0 184,464,0 21.549,0 2.614,0 223,852,0 10.582,0 150.392,7
May 9.. 44,030,0 187.361,0 21,392,0 2,508,0 221,961,0 10,551,0 137,300,6
May 16.. 44,036,0 187,875,0 21,507,0 2,688,0 228,046,0 10,596,0 141,650,4
May23.. 44,036,0 188,484,0 21,719,0 2,843,0 228,784,0 10,581,0 147,307,0
Phila
258.302,0 17,379.0 117,359,2
68,942,0
May 2. 54,440,0 223,555.0
259,423.0 17,295,0 117,037,0
08,033.0
May9__ 54.440,0 225,073.0
204,080.0 17,283,0 123,518,9
70,920,0
May 16.. 54.440.0 224,408,0
264,232,0 17,233,0 117,556,0
72,452,9
May23-- 54,440.0 223,926,0
+Increase over last week -Decrease from last week.
a Includes bank notes. b After eliminating tte item "Due from reserve depositories and other banks and trust companies in New York City." deposits amount to
$714,143,600, an increase of $2,818,900 over last week's figures.
Note.-In the case of the Clearing-HoUse banks, the deposits are "net" both for
the aysraye and actual fIguKes; In all other cases "gross" deposits are shown. The
Clearing-House actual figures Included United States deposits amounting to $28,519,600; a decrease of $3,102,600 from last week: averages included United States
deposits of $30,673,300, a decrease of $1,025,100 from last week.
"Reserve on deposits" includes. for both trust companies and State banks, not
only cash items but amounts due from reserve agents. and In the case of trust companies includes likewise municipal bonds. State banks in New York City are required by law to carry a reserve amounting to 15% of deposits, while outside of
Now York City only 10% is required, which reserve in both cases need not be more
than one-half In cash. Trust companies In Greater New York are required to keep
a reserve of 15%, of which only 5% need be In cash and 5% more may be in municipal bonds, while in the case of the trust companies In the rest of the State the required reserve is 10%, of which only 3% need be in cash and 3% more may be in
municipal bonds.
a Including Government deposits, and for Boston and Philadelph a the Item
"due to other banks." At New York Government deposits amounted to $30,673,300
on May 23 against $31,698,400 on May 16; at Boston to $3,565.000 on May 23 and
$3.742,000 on May 10.
The State Banking Department also furnishes the following report for State banks and trust companies outside of
Greater New York.
NEW YORK
WILLIAM AND PINE STS..
Branch offices: Chicago, Ill., and Albany, N. V.
STATE BANKS & TRUST CO'S OUTSIDE OF GREATER NEW YORK.
% of
Week ending May 23 1908.
Deposits.
Loans.
Reserve, Res.
$78,388,900 $80,627,600 $15,896,300 20.3
State Banks
+724,500 +1,186.900
+01,600
117,652,700 124,572,200
20,725,300
Trust companies
+617,600
+258,000
-131,300
+Increase over last week. -Decrease from last week.
Aanting anti finantiaL
We shall be pleased to mail to institutions and investors copies
of the 4th edition of our special circular giving statistics covering
27 of the better class of Railroad and Industrial Stocks listed
upon the New York Stock Exchange.
Spencer Trask & co
MOFFAT & WHITE
Stock Exchange,
HANOVER BANK BUILDING
DEALERS IN INVESTMENT SECURITIES
Commission Orders Executed for Cash Only
Members
5 NASSAU STREET.
New
York
THE CHRONICLE
MAY 30 1908.1
tx htrs7 Oliazettt.
Wall- Street, Friday Night, May 29 1908.
The Money Market and Financial Situation.—Security
prices have continued,, practically Without interruption, the,
downward moVement which, commenced on Tuesday of last
week. They are now near'the level at which they stood a,'
month ago, showing that the recent advance did, not have a
very subStantial basis, and the events of the week have not
been ,sufficiently favorable to support the market at the,
higher, level,'
Gold exports for the week amount to $4,995,000, $3,800,000 of which goes to Europe, and $1,195,000 to Canada. All.
the prominent European batikS report larger reserves, and a
of, England's discount rate from 3 to
reduction of the Bank of
2M%,is expected to be
by a lower official rate at
Berlin.
The open market rates for call loans at the Stock Exchange
during ,the week on stock and bend collaterals have ranged
4%. To-day'S rates on call were 1 3/2 ®
Iron' 13/270 to 13
104% for choice 60
4%. Commercial paper quoted at 3%
13
to 90-clay endorsements and for 4 months best single names;
4®43/2% for a slightly lower grade of 4 to 6 months' single
names.
The Bank of England weekly. statement on Thursday
showed an increase in bullion of £103,220, and the percentage of reserve to liabilities was MAO,against 51:77.1ast week.
The rate or discount was reduced May 28 from 3'% as fixed
March 19 to 23/2%. The Bank of France shows an increase
of 50,800,000 francs gold and 1,775,000 francs silver.
To-morrow being Memorial .Day and a legal holiday, the
Clearing-House bank statement was issued to-day. It
shows, on the basis of averages, a decrease in loans of $3,929,400; decrease in 'circulation of $116,800; decrease in deposits of $1.1,134,500 decrease in specie of $13,325,600; increase in legal-tenders of $1,966,600, and a decrease of' $8,575,375 in surplus reserves. In the following we give the
figures for the previous .week in our usual form in order to
,preserve the record.
•
Capital
Surplus
Loans hnd discountsCirculation
Net deposits
U.8. dep.(Incl. above)_
Specie '
Legal tenders-
1908.
Averages for
week ending
May 23.
1907. •
1906.
Averages for Averages for
week ending week ending
May 25.
• May 26. •
$
$
129,100,000 117,472,700
124,350,000
160,414,500 - 149,236,400
159,984,000
1,219,047,900 Inc. 17,927,900 1,126,389,500 1,049,390,800
49,834,900
40,659,600
61,000
57,267,200 Inc.
1296,923,300 Inc. 20,702,700 1,112,040,500 1,032,731,800
18,418,200
31,668,90
30.673,300 Dec, 1,025,10
312,055,400 Dec. 1,925,100 221,189,600 180,981,000
72,659,40 • '83,896,100
68,060,800 Dec. 1,021,100
Reserve held
25% of deposits
Sur6Iti,s reserve
• ' Surplus excluding U.S.
deposits
,
Differences
from
previous week.
380,716,200 Dec. 2,946,200
324,230,825 Inc. 5,175,675
293,849,000
278,160,1?5
264,877,100
258,182,950
56,485.375 Dec. 8,121,875
15,68$,,875
6,604,150
64.153,700 Dee, 8,378,150
23,06,190
1325
count., Chicago, 50c. per $1,000 premium. St. Louis, 75c.
per $1;000 premium'. San Francisco, $1 per $1,000 premium:.
State and Railroad Bonds —Sales Of State bonds at the:
Board $42,000 Virginia 6.s def.'trust'receipts at 37 to 40' '
The volume of business in railway and industrial bonds has
been further reduced', averaging'about $2,800,000, par value,
per day, as against.a recent volumenearly twice as.large. As
has been the...case 'frequently, of later Monday's trading was
the most spirited, followed by diminishing activity. The
latter was accompanied. this week by declining ,pripes, although net losses are, in most cases, measured by:fractioh8..
Among the exceptional features are Wabash-Pittsburgh.
Term. 2ds and Wabash ref. and ext. 4s, which declined- 43/2;
points; Rock Island coll. trust 5s and St. Louis & San ;Francisco ref. 4s, which' are 13/2 to 2 points lower, and .Mexican
Central con. 4s, which are the only active issue showing an
advance. They close 14 points higher than last week.
United States Bonds.—Sales of Goverrinr.i.ent bends at the
Board are limited to $2,000 3s coup. 1908-18 at .101%. The
following are: the daily closing quotations;. for yearly range
see third page following.
Interest May
Periods
23
'es, 1830
regist:red
2s, 1930
coupon
3s, 1908-18
registered
3s, 1908-18
coupon
3s, 1908-18- - --small coupon
4s, 1925
registered
4s, 1925
coupon
2s, 1936_Panama Canal regis
Q—Jan
Q—Jan
Q-'-Feb
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Nov
,
May
26
May
25
May
28
May
27
May
29
*1033% *1033% *1033% *1033% *1033% *102%
*1033% *1033% *1033
% *1033% *103% *103%4
*1003% *1033
% *1003% *1003
% *101
% *1003
3 1013%
% *1003
*1003
% *1003% *100% *100%
*1003% *1003%, *1003% *1003% *1003% *100%
*120 *120 *120 *120 *120 *120%
*122 *122 *122 *122 *122 *122
*102 *102 *102 *102 *102 *102%
* This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.—The daily transactions in stocks have averaged little More :than half as large
as last week and the decline in prices then in progress has
continued, A few issues have held steady, and to-day's
market was firmer; but almost the entire active list shows
a decline within' the week of from 2 to 7 points. Missouri
Pacific was conspicuous for,a, decline of 19 points. St. Pahl,
after recovering about 2 points, is nearly 7 points lower, and
Union Pacific, ex-dividend, is 74 lower than last week.
Reading has been, exceptionally active and covered a range
of nearly 6 points; with a net loss of 23/2. Northern Pacific
and Interboro-Metropolitan are the only active railway issues
that show fractional,net gains. National Lead has been a
notably strong feature. It advanced 4 points during the
early part of the week and retains over half the gain, Smelting & Refining is up •15
/
8" points, but other industrial issues,
following the general, trend of the market, are lower.
For daily volume of busine0 see page 1333.
The following sales have oecurred this week of shares not
represented in our detailed list Orf the pages which'follow:
. :jTOCKS.
Week ending May
11,298,760
29.
Sales
'jar.
Week,
Rangefor Week.
Lowest.
_Highest.
-Amer Steel'Fdry•tr rects. • 100 6N May 2, . 6%
600 34- . May 25 .343%
Arofer-The Clearing,House now,.Issues a„statemeat(tweekly ,showing the total
Preferred trust rects- These figures': together with the returhs American T,pieg &Cable.
135 58 May 28 6033
of the:actual figures on Shtlirday
800 '40 Ma 25 '414
t)i(E Mite 'Banking Department - Bethlehem Steel pref _I.
of 'separate banks, also.' the sunitny Issued by
showing; the Condition of. Stile bapks and,trUst companies not reporting to the Col•Fuel &Iro'n pref.„.
1
50'May 281. 50
nearing ot1Se, appe:(1. on the pree.e,:',lifig. pft,
, Comstock Tunnel„1,40 35e. May 2:' 37c.
• -111
41 89 May 25 .90
_
Stigar
Ref
Federal
Foreign Exchange.Tif‘ o'hiarket WaS irregular early inthe - General Chemlcal met”,
2$ 9() My 25I-,00
100 80% May 29 80%
week, influencediv .expectations, which, yvere later`realized;s.
10,124
28 ',..414
ifgaliVegi
t
T11111g1t
4
r
.
.
1
10.
a
tia
(*.aunt rate,. Subse-' Kan & Mich trust rects-4-- • 100.;39 May
of .areduction in tie tang:ye
May 28 - 39,
(mealy a demand to,cover Shorts and to reMit for stocks sold St Jos & Gr.js1,1St pry- ...Igo 39 May 25 3,9
L &S
•
for Enropean accgu.nt oan§ed a stronger tone. (;01d.exports Stnewstock,
trust certsMay 28 '51'
45 51
to Europe i $3,800,000 .for the week, and since the movement U S leather pret____
100 1003% May 26 1003%
.• ,
MOIltreitl
gold'
11,195,00p
was
sent
to
began, S35,510 MO;
Range since Jan. 1.
Lowest.
:Highest.
May 26„ 4%. ;Feb :6% . Apr
May 25 27N Feb 343, May
May 281 50
Mch '603%. May
May 26r• 27N -:',Feb :44
May
May;28 35 - ,Apr60t.,:,
..„‘Aar
r
May 29i 29e. 'Mcb 44
May 23 '',733% Feb 90. ,
'Apr
May 4. -80:
,90' ;, ,Apr
May,29 70J*n 803% ')lay
May 23,, 3% May"
May 28FI 29
;J'ap, ,42, ,r.may
May 25, 38
May 42
May
May 28 50
May 2(3 95
Apr 53
Jan 101
May
May
••
•• this .week.
Outside Market.—Trading in outside securities was exTo-day's ,(Friday's) nominal ,rates for . sterling exchange tremely dull this week) with prices intlined to sag. Most
were:4 86@4 80M for sixty day.and .4..88@4.883/2 for sight. atocks show minor lesses. The new C.. B. Si: Q. 4s
i."
Today's:(Friday's)' actual rates for sterling'eXchange•were' were
on One.day: Sixteen millions had been of:4 855504 8565 fat-long, 4 871504 .8720 forshort and 48740 fered'prominentby
J,
P.-Morgan,* co..at.,953/2,.a,nd were's° largely
' 04 8750 'for cables. Commercial on' banks:4 852004 8530' oversubscribed
'that the price rose to'973.-i. Then,oil transac3 . cotton for
and dociinients for payment 4'84404 85;4
$2,009,00ck, the
„tions
of
about
declined to 96%, with a
payment. 4 84404 849, cotton for. acceptance 4'8520'0' recovery-to 07: The following;price they-were
placed on the
;
•
4 8530'and igrain fel* payment 4 85404.853-h.
department
of
the
unlisted
Stock
Exchange,,where
the,closToday'dlWriday's) actual rates for Paris bankers' francs ing
to-clay'
was
00
•
:The
usually
price
activeeoppe"i stocks
/-d "f;,or
wete 5 1.73d65'163/8h for long and'5 15Kci@5 155
shared
general
apathY.•
•
Boston
in
the
Consolidated
Copper
shprt:.-. • Germany' 'bankers' marks were'. 94 15-16095- for opened the week at 13, sank to
1034 and recovered finallir to
long and095,7-160953/2a for short. Amsterdam bankers' 115%.. British Colmnbia Copper
weakened
from
5
to 4%.
•"
• •
guilders were- 40 23040 25 for 'shOrt.
Exchange at Paris on London to-day 25f. 13c. Week's Butte Coalition from 2314 Tell to 22'; with p; subsequent:re/
s.
covery
to
233
Davis
Daly
from
Estates,went
up
3
to*
i
range-25f..+3..3/2c. high and 25f, 13c. low.
and down to 2%. . Dominion CoPpO,uadvanced from
The we 1? ,range fpr exchange rates.follows:
Greene Cananea declined from 93
4.to
and.,re-cabres--.
Long
covered to 934; Nevada Consolidated Copper moved irSterlIng.Aolstal—.
© 4 8750
14 8715
14 8745
(70 4 8565
4 8720
High
8555
4
regularly, going down from 12 to 1134. and iip to 1113/2. The
14 8710
14 8730
55 4 8735
- Low
-4 8520'
55 4 8715
55 4 8525
close to-day was at 11%. United-Copper common went
Partshibikerifrancs-7'
3 endinig.the week at 7,. Nipisfrom 75% to 6% and up to 7%,
17
© 5 163%
I
I 15%a 0 5 153%
15 15hld © 51151
Low4 111_ r)1L5• 18 ' '0' 5 1714
I
sing, after fluctuating betWeen 6% And 7, developed considGermany Bankers' Marks—
1 95 746 0 9514d
erable aetivity to-day and sold up tb 7%. Gold-field Daisy
94 145-16 0 95
High
1 95 7-16a
95 7-16 1
Low
9471943%
declined from $1 08 to 87 cts.,,rnoving up finally to 92 cts.
Amsterdam Bankers' Gitilders—
Goldfield Consolidated fluctuated between 53/2 and 53
High
I 403% • 0 40 5-16 1
/
8.
1 '40 21
© 40 23
Low
I
There were few transactions in industrials. American Tofrom
341
to
335
and
bacco
sold
down
up
to
337;
Standard
1i3-32
of
1%.
Less: a 1-16 of 1%. d 1-32 of 1%.
Plus: k 1-16 of 1%. x 1-32 of 1%. y3-32 of 1%.
Oil lost about 7 points to 597. Chicago Subway dropped
% to 20, the final transaction to-day being at 205A•
The following were the rates for domestic exchange at the 'from 225
undermentioned cities to-day: Savannah buying, 50c. per Tidewater 6% notes were active, declining from 98% to
$1,000 discount; selling, 75c. per $1,000 premium. Charles- 98. 'Consolidated S. S."41s declined from 103% to 93/2 but
' On, selling, $1 per,$1,000 premium. New Orleans, bank, sold up to 105
%.
Outside quotations will be found on page 1333.
50c. per $1,000 discount; commercial, 75c. per $1,000 dis-
1 1646.
13% to
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OCCUPYING TWO PAGES
S70CH:4-HIGHEST AND LOWEST SALE PRICES
.8atirrday
May 23
----•
Monday
May 25
Tuesdao
May 26
,Wednesday • Thursday
May 27 . May 28
'
Prtday
May 29
Sates o
Me
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
Range Since Jan. 11908.
On basis ot 100-sha7e 1014
Highest
Lowe41
Range for Ptetious
Year (19071
Lowest
Highest
Railroads
8018 8134 7978 8178 8038. 8112 7933 8038 7933 8058 798 8033 36.800 A tch Topeka & Santa Fe 68 Feb 14 8473 May18
6638 Nov 10814 Jan
*011. 9212 9158 9158 9012 0112 9012 9012 *90
92 *901
. 92
1,000 in
Do pref
78 Nov 1015a Jan
8333 Feb 17 9234 Mayl
*90473 92.
00
90
8712 SR
90
87
8712 8712 881; 8812 1,400 Atlantic Coast Line RR- _
58 Nov 13313 Jan
5912 Mch 2 94 May19
8714 8812 8714 8914 8758 8914 8612 8773 8712 8314 8773 8312 18.350 Daltimore & Ohio
7538 Nov 12'2 Jan
7013 Feb 10 9414 May18
*84
841. 8412 *83
89
85
*8412 87
*84
85
85
86
300 II DO prof
80 Jan 3 86 May1:9
75 Nov (915411:
4933 5114 4934 511, 463i 49
47
4833 50
4833 4714 48
8353 Jan
84,780 Brooklyn Rapid Transit_
2634 Nov
3714 Feb 10 54 May19
* __ 65 *_ _ 65 *
65 - *
65 *
C5 * '
65
Buffalo & Susque, prcf
Nov
8634 Feb
6434 Mch21 6434Mch '21
7412
1- 5
. 1 15778 16-7 15812 15614 15838 15534 15712 15944.15834 15753 15812 17,072 flanadian Pacific
190 Feb 17 161 May19 138 Nov 19512 Jan
*62
63
*61
63
6278 6278 *62
63
*62
63
*9212 63
Jan
200 ‘Janada Southern
54 Afch 4 634 Mayll
59 Nov
_ 181 182 *180 190
180 180 *175 185 *17..i 135
300 Central of New Jersey_ _ _ 160 Feb 11 188 May'5 144 Nos 22tt .Ian
43 45
4212 4412 43.4 4412 4214 4334 4212 4378 44
2513 Feb 19 46% May21 22114 Nov
56 Jan
4439 68,080 Chesapeake & Ohio
21
2034 2114 2.1
2034 2034 2013 2013 2058 205s 21
21
1,300 Chicago '& Alton RR_ _ _ _
2713 Jan
10 Feb 13
2313May 6
813 Nov
*52
60
*50
60
60
*55
60
*50
*52
CO
*52
GO
Do pref
69 Jan
97 Mch24 60 May 44
48 Sop
&Ss 678 *612 7
612 634
612 7
612 610
612 634 3,800 Chicago Great iVestern _
313 Feb 8
Jan
813 In
n
675 Nov
*50
55
55
*50
50
50
50 *44
*49
60 - *45
331. Mch19 50 May16
Do 4% debentures_50
100
8 Feb
7
19
46 Dec
*2253 24
*2234 24
*23
24
23
23 *2.233 24
*2238 24
100
15
Do
5%
1512
pref
Feb
"A"___
Jan
6
Feb
31.
71",
21
Dec
*814 01. *814 9
*838 912 *8
912 *834 912 *8
912
Do 4% pref "13"..
10 Jan 0
9(1(1 Jan
5 Feb 11
814 Dec
131 136 - 3014 13334 12933 13373 12858 13034 12853 13153 129 13044 231,380 Chicago Milw & St Paul.
10312Jan 2 140 May19
Jan
Nov
15712
9312
.
15312
•
.62
155 *151 15434 *151 155 3153 153
1531
15312 15312
822
Do pref
138 Jan 3 157 May19 130 Nov 16512 Jan
1223.i 1264 12212 12212 *122 1253.1 311914 11914 *119 124 *119 123
Do com ctfs 45% pald
910
9812Jan 3 12973 May19
41
14231 1444 *141 143
14212 1421, 141 141 *141 145 .4,142 142
Do pref ctfs 45% paid 12.553Jan 2 148 May18 ;
2085,
Oct 149
8
15
1 N
15234
15134 152
15013
15112 15234
- .15012 1511. 150 15113 161 152
7,100 Chicago & North Western 1:1512 Jan 2 160 May18 1241 Oct '2
aan
nn
448
10
5
1 jJja
*105 205 *195 205 *200 205 *200 205 *200 215 *200 205
Do prat
4185 ./an 11 20413 May18 '185 Oct 234 Jan
*133 .138 3131 131 *132 138 *130 135 ' *130 136 *130 130
50 Chic St P Minn e. Omaha 114 Feb 25 138 MayI9 106 Oct 170 Jan
*160 105 *160 105 *160 165 *160 165 *100 165 *160 165
3
12
3D
14012 Jan 3 16.5 May15
Do pref
ki,
etch 12
05
5231 JJMaa
*5
10
5
5
*4
10
*4
8
*4
8
*4
8
100 Chicago Term in'i Transfer
131 Feb IS
8 May22
313 Oct
934 Feb
25 *10
*14
25 *14
25 *10
25 *10
25 . *10
25
Do prat
873 Mch 14 15 May20
378 373
378 378
334 373
333 358
312 312
314 334 2,300 Ohio Un
58 Apr 3
ctfs of dep_
4 May18
May
13
13 *1314 14
15
*1212 1414 *13
*13
1378 13
13
4 Apr 17 1434 May13
300
Do pref ctfs of dep.
8 Dec
17 J'ly
59
*57
56
5814 5614 5014 57
564 5612 5734 *57
60
4813 Feb 19 62 Jan IS 48 Nov
1.000 Cleve Cin Chic & St
_
9273
Jan
9512 9512 *9512 100
*95 100
*9512 100
*96 100
*90
98
Do prof
8518 Feb 19 9512 May25
100
80 Dec 10813 Jan
3112 3112 3034 3173 3112 32 . 3073 3138 31
3178 3113 3133 4,540 Colorado & Southern
21 Feb lb 33 May14
17 Nov
3873 Jan
5914 5912 5834 5834 5914 5912 35958 59511 59
6033.1:4.1 2 6034 Apr 23
Do 1st preferred
5912 59
59
785
41 Nov
6912 Jan
4814 4924 9934 4934 *49
4814 49
50
48
4978 4914 4938 2,200
3934 Feb 19 5112 Apr 25
Do 2d preferred
2912 Nov
6812 Jan
160 161 x158 15978 159 15938 156 156 *150 159 *155 159
elaware & Hudson
14112 Feb 10 168 Jan 10 12353 Oct 22713 Jan
1,650
*500 640 • *500 540 *500 540 *475 540
60012 5001,*490 535
elavvare Lack & west. 420 Jan 6 540 May '‘ 36912 Oct 610 Jan
100
2514 2514 2453 2458 25
25
2313 245g 2173 234 2253 2353 2,445 Denver& Rio Grande
1414 Feb 19 2734 Maylit
4278 Jan
16 Nov
64 . 64
*60
65 . 64
64
63
64
58
6173 59
5933 1.635
3914 Mch 2 70 May19
Do pref
35:1334
ov
80
31, Jan
*32
37
*35
*32
37
37
*35
40
*32
3213 Apr 15 3814 Jan
38
33618 3618
20 Detroit United
Dec
*1134 14
*1184 13 *1034 14
14
0 Fob 11
---- ---_ *10
*1012 14
Duluth So Shore dc Attan
1014 Apr 28
((34 Oct
1912 Jan
*1934 23
2178 2173 320
20 -- --- *19
1134 Feb 13 20 Apr 24
22
20
Do pref
20
250
39 Jan
10 Nov
2124 2214 2034 2212 2112 2212 21 2218 2114 2218 2114 2134 50,750 Vrie
12 Mch 6 2358 May22
214 Nov
4411 Jan
3912 41
39
41
3912 4033 3878 40
2438 Mch 4 44 May19
38
3912 3812 3834 5,900 LA Do 1st pref
28 Nov ' 7578 Jan
27
2818 27
16
pref
2912 28
Do
Zd
2912 27
2734 2714 2712 27
Mch
6
2,800
3012
May19
87 Jan
20 Nov
2712
*62
80 *60
80
Evansville & Terre Haute 60 May15 6212 May16
*60
80
*60
80
80
*60
80
*60
*80 100 . *80 100
80 Mch19 85 Men20 -56 Apr
Do pref.
*80 100
*80 100
*80 100
*80 100
92 Apr
12714 12934 12714 12873 12712 12913 12614 128
12673 12913 12913 13038 73,480 Great Northern prat_ _ 11334 Feb10 13418 May19 10712 Oct 18934 Jan
5913 6058 5912 GO
5812 59
Iron Ore
5912 60
4812 Jan 2 6338 May18
59
_ _
5934 7,480
59
59
86 Jan
37 Oct
W,deb ctfA 71 Mch19 7712 Apr 6
Green Bay &properties-- -- *- __ 85 *__ 85
75 Oct
75 Oct
*i2
14
deb ctf B
Do
8 Jan 14 1438 May22
1212 1314 12 -1-212 12 1212 *1112 1314
36
1413 Jan
cto
ct
t
24
5314
3O
avana Electric
*24__
*24
20 Mch24 23 may 6
__ *24 ____ *24
___
47 Jan
Do _pref
*70 -77
*72 -797-8 74 -7-4
*70
_ _ _ *70 -7-978
400
74 May26
_-_ -:-_ _
470 Jan
Jan
72 Apr
83 *80
400 Hocking Valley tr rects_ _
83 *80
*SO
62 Feb 10 90 May14
90
90 *____ -90
7912 -80 *
1
812
4Macnla
63 Nov 18
Do pref
*32
90
*82
90
100
*82
90
*82
69 Mch 19 85 May14
*82
90
90
*82
90
94 Jan
64 Nov
135 136
4,500 ilinois Central
13514 138
131 131
12212 Feb 17 142 May18 116 Nov 1:
13434 13614 134 135 3129 130
n
72
12 Jan
1138 1134 1114 1238 12
4134 Jan 4 1233 May25
1238 1134 1214 1158 1214 1134 1214 17,950 interboro-Metropolltan _
Oct
Do pref.
28,850
33
3012 3134 3014 3312 3114 3333 3114 3213 3178 3273 32
174 Feb 19 3312 May25
7514 Jan
y
1478
4 Nov
1034 1612 1612 1534 1534 1512 1534 2,020 Iowa Central
111718 174 101, 1634 16
10 Feb 19 19 May19
2873 Jan
913 Nov
Do prof
1,880
32
3512 331i 39
3012 3214 31
35
*34
*34
34
34
2712 Feb 19 3638 Apr 27
51 Jan
'29 Dec
C Ft S & M. tr cta prel 5973 Feb 19 70 Jan 13
*6312 68 *6312 67
*6312 68
*6312 68
*6312 68
*6312 68
80 Jan
GO Oct
2334 *2312 24 • *233 2414 2,300 kvansas City Southern22
2414 2414 23
18 Feb 25 26 May13
3034 Jan
24
2373 23
18 Mch
Do pref
740
55
55
5510 355
356
56
46 Feb 19 5773 May19
5612 5612 *56
6134 Jan
45 Mch
5712 5512 56
T ake Erie & Western20
20
*15
*15
19
*15
*15
2812 Jan
12 Jan 4 1934 May10
19
19
*1612 19
*15
11 Nov
100 •LA Do pref
45
*40
45 *40 . 50
42 *38
*42
48
*42
60
42
6713 Apr
34 May 2 45 May12
3934 Nov
60 Long Island
35
44
335
43 *36
43 *32
*37
30 Feb 6 40 Apr 24
41
6712 Jan
43 *35
20 Dec
*37
105 105
10512 10512 8,700 Louisville & Nashville_- _
8714 Feb 19 113 May19
10612 10814 10634 1071. 105 10712 10458 106
8512 Nov 14513 Jan
anhattan Elevated__
120 Jan 4 13912 May16 10073 Oct 146 Feb
1374 13712 13634 13732-3 13718 13714 13612 13714 13612 13612 13612 13012 2,313
32
34
*24
*23
100 11-1-etropolttan Street- _ _ _
30
*24
29
15 Feb 24 35 Apr 13
27 *23
*25
30
27
23 Dec 107 Jan
1633 1633 1612 1612 1,300 Mexican Central
16
1014 *1614 1634 16
1613 1613 16
2753 Jan
1412.1an 2 2013 Jan 28
1234 Nov
Do Trust Co ctrtls
1412 May 1
1613 1612 1614 1633 1613 1678 1612 1613 1613 1658 1612 1634 2,200
1718 May16
28
28
30
2734 2734
2913 2934 *25
700 Minneapolis & St Louis
*29
31
'20 M7h 2 32 May14
30
30
--511 Jan
Dec231
70
*67
70
*67
70
*67
*67
70
Do pref
70
*67
70
81 Feb 29 6912 May16 26213 Dec
*67
90 Jan
111 111 *11012 113 *11012 11212
725 Minn St P & S S Marie.... 7914 Jan 2 115 May18
111 111
111 11112 111 111
60 Oct 14014 Jan
1134
*130 135 *_--- 136 *-,..... 138 *132 137 *13212 138
Do pref
12312 Feb 11 13634 ltich25 no Oct 16
uo
48
45 Jan
2578 2613 2578 2612 2612 2653 15,200 Mo Kansas & Texas
28
2734 -2913 2718 2773 26
1712 Mch 2 3073 May19
7234 Jan
2
503
3 4 No
ov
v
6114 6138 5978 5978 *5812 6113 *5812 62
*60
6214 6014 61
500
Do prof
46 Feb 19 6353 May19
57
4512
8
5334
50
3
4
6612
59
5
59
4558 4838 95,060 Missouri Pacific
57
5838 61
2813 Feb 19 6412 May20
4418 Dec, 9234 Jan
40 Mash Chatt & St Louls_
1.110 120 *110 120 *110 120 3112 11212 *110 120 *110 120
9734 Jan 2 11414 Jan 14
97 Dec 147 Jan
50
50 *.--- 5012 5038 5038
200 LI at of Mex. non-cum pf 4:334 Jan
-- -- --. -__ *4812 51
52 Mch 28
59$3 Jan
3913 Nov
___
_-- *17
Do 2d pref
17 May12 17 May12
27 Feb
1312 Oct
10238 10314 10138 10212 10112 10253 10134 10212 14,205 N Y Central & Hudson
9018 Jan 2 10778 May19 x89 Dec 18414 Jan
4 10314 10414 *17103 1-11434
3312 3812 3812 3812 3818 39
3312 3812 *38
39
39
39
800 N Y Chic & St Louis_
2413 Jan 3 40.8 May14
6312 Jan
1934 Oct
*95 100
*95 102 *95 100
Do 1st pref
*94 101
*95 101
n
*92 105
90 Jan 14 102 May12
85 Nov 110 Jan
*68
74
*70
76
78
Do 2d pref
*71
75
.: *70
76
60 Feb 8 75 May14
*70
41 Oct
-- *134 13514 134 134 *133 135 . 134 134
420 N V N Haven & Hartford 12833 Jan 0 14114 May18 12733 Nov 18
13418 13418
13'
136 135 *7089
3938 3812 3912 3814 3912 18.250 N Y Ontario & Western_ _
4133c Jan
3938 3812 3978 3912 4018 38
2918 Feb 19 4334 Mayll
39
28 Oct
*6712 6812 1,810 Norfolk & Western
70
6978 70
370
9214 Jan
70
70
6912 70
70 . 69
58 Feb 19 7234 May16
58 Oct
Jan
Do adjustment pref__ _
*71
80
*70
80
80
*70
74 Mch24 81 Jan 9
70 Oct
13012 13334 43012 13276 .13078 13353 129/2 13134 13134 13438 13353 13618 205,047 Northern Pacific
11673 Jan '2 13873 May19 10011 Oct
12012 122 .12134 123
F
1 ib
Do subscrlp recta
11934 12133 11312 120
34
51222 .j
14,200
11914 12112 11934 121
9112 Nov 1818
103 Feb 10 12512 May19
78
7812 7813 7812 784
*7912 8113 *7812 131q 7618 7018 78
7112 Apr 2 93l Jan 14
400 Pacific Coast Co
56 Nov 124(8 Jan
Do 1st pref
*90 100 . *85 100 . *85 100
76 Nov
90
*90 100
100 1*90 400
90
Nov
90 May2oi 90 May26
*80 100
Do 2d pref
*80 100
125 Mch
*80 100
*80 100
79 Moh27 07 Jan 13
*85 100 *80 100
1418
783
11914 11978 80,451 Pennsylvania
11914 12073 11018 -121
11914 12114 11858 11934 11834 120
10834 Jan 2 12413 May19 x1065.8535112
Jan
*70
75
75
*70
75
*70
Pittsb Chi Chic & St L--- 59 Jan 7 72 Apr 25
74
75 *70
*70
Octeocv
7)
75 - *70
98
98
*90
98 . *90
Do pref
8113 Moh 3 93 May14
0912 Oct
98
98 • *90
*90
98
*90
*90
121)9218
109% f12
11014 11153 868,960 pending
7(10712
11018 11334 11012 1131. 14033414 . 10834 111
9213 Feb 17 11914 May19
Jan
1.b lilt prat
*814 80
87 - *8113 84
*82
*8112 84 ' *8112 86
87
73 Oct
*84
78 Jan 2 8712 May18
94 Jan
Nov
83
83
83
8418 83
Zd pref
8418 *83
*8312 8612 83
900
84
84
78 Jan 6 8612 May18
3013 Jan
21011142 Nov
1634 1718 1658 17
5,900 Rock Island Company..._
1733 1778 1653 17
1712 1818 1053 18
1012 Feb 3 1912 May14
3434 14,241
6412 Jan
Nov
Do pref
35
36
3334 3434 33781 3512 34
2034 Feb 3 4053 May13
3412 3734 3444 36
47053s
*50
54
54
*50
38 Oct
65
*49
55
100 St L & San Fr. 1st pref
*50
;51
54
45 Feb 10 0134 Jan 15
51
*50
Jan
2812 2912 29
29
29
Do 2d pref
*2912 3113 29
29
1,685
30
1914 Feb 19 34 May19
2912 30
Nov
2513 Jan
2
141 N
1414 15 . *191, 1512
16
70Q St Louis Southwestern_._
1612 .1613 1534 1534 1513 1513 *15
10 Mch 7 1778 May18
3.113 323.1 3513 3.500
25 Nov
6212 Feb
40
Do pref
2413 Feb 19 41 May18
3714 3913 *37
3712 371. 343 3613 32
9614 Jan
8314 Oct
3438 131,400 Southern Pacific Co
6614 Feb 17 8934 May19
855; 8134 • 8.334 801 '8438 83
8173 86 . 8312 8533 83
10633Jan 2 12512 May13 100 Oct 11818 Jan
11814 119
11834119
Do pref
11812 11812 11812 11833 1.181l.11812 11812 11838 1,485
10
Nov
May19
34 Jan
1012 1714 1612 1738 1612 1078 1618 164 161$ .1634 9,230 Southern v tr cfs stamped
1712 '13
11
1912
Jan
918
2912 Nov 9412 Jan
44
do
44
45
2513 Melt 5 4712 MaYI9
4412 '4514 4312 441. 4413 4534 44
Do pref
4312 4334 3;800
1712 Nov :3713 Jan
22
23 •
2313 24 , 2334 24
2333 2413 2238 2312 2/4 23 •
1234 Feb 29 26 May20
7.700 reXaS & Pacific
16 Nov 123 Jan
33
htrd Avenue (N Y)
3478 3314 3434 3213 3312 3313 3373 333
3213 3212 32
5,890
1512 Mch23 39 Apr 13
*934 12
10
1(1 34 Dec
9
10
32334
*912 1031
973 978
10
934 978
10
1,000 Toledo Railways de Light
873 Apr 9 1514 May 2
Dec
*164 1914 *16
1912 1912 *18
Jan
1012 *17
19
200 Toledo St L & Western.,_
12 Feb 13 21 May18
1934 *10
1914
2014 Nov
44
*42 '4412 4412 4434 4312 437$ 44
4414 4414 4433 *42
5473 Apr
Do pref
33 Feb 3 46 May16
1,300
9038
*89
6834 Nov 10813 Jan
92 •
89
89
90
90
300 Twin City Rapid Transit_ 7814 Feb 7 9214 May19
908 '9038 *3934 9014 *8914
1491, 1473, 14.11 a lAgA. 1.1'29. 1,133a ,Inlia, 111(7o 13S3,1411. 13379 141
1101. Nfrai 2 1511,May19 100 orq 1943 Jan
955,765 Unlon Psetila
D
H
I
rr
BANKS AN I) TRUST COMPANIES-BROKERS'
QUOTATIONS.
Ask
Bid
Bid
Slid
Banks
Ask
Banks
Banks
Ask
Banks
Oriental 1._
Flanover
465 485
Metropolis', 375
410
Plfth
3700 3350 Imp & Trad 520 530 aletroporn1i 140
11;7-- Pacific 11-- 230 250
New York
Chemical - 400
Fifth
300 350 Irving N Es 173
170
Aetna
235 Park
180
-J.- CItIzens' Ctl 140
Mt Monist. 220
405
415
290 295
First
Jefferson 11
America 7- - 500 526 City
'850
People's ¶1 _ 300
170
180
Mutual I-- - 295
205
200
14th St.% -4 175
Amer Exch., 8219
Phenix _
_ 140
Coal &
185 Li berty- _ _ 435 485 Nassau 11..- - 195
Battery Pk, 118
_ 475 525
Fourth -_ _ 18213
125 Colonial 11_- • 700
Lincoln
Plaza 7-575
New AmstBowery - 320 335 • Columbia ¶3.. 400 600 ; Gallatin
220 Prod Each 11 140
315 325
Manhattan7 280 990 New Neth'd 200
Mark't &Ful 240
Broil xBoroll 300
Commerce. 1160 1168 Garfield _
326
Riverside 11_ 200
NewYorkCo c500
120 Germ Am; 125
155 ConsolTd- 115
Butch & Dr 150
290 Seaboard _ _ 340
13212 Mechanics'_ '230
New York. '280
185 Copper _,„
205 210 (ierro'n Ex 475 500
Century ¶-. 170
325 Second ___ _ 5350
Mach &Tra
Witt &Day/
230
Mercantile _ 140
Chase
Corn Ex ¶1.4 308 315 Germania 11 500
State
19th Ward 11
8201
145 , Greenwich 11 250
Chatham East River., 135
March F.'xell 165
12th Ward I
170 North Amer
2-6 3-1-641 hadelity
165 , Ham Ittori 11_
Merchants'_ 15212 1;71 Northern _
160 23(1 Ward 11 100
Caol.aarA
11_ - 180
* BId and naked prices; no sales were made on tors tiny. 9 Ex-rigras.
Less'than 100 snares 11 State banks a Ex-div (lend and rights. S New stock
Sale a' Stock Exchange or at auction this week c For new Mock, prevlous price waa;o3 old cap talisatloa. is 1st 111814111fl t pald. n Sold at private, sale
at this price.
't3anks
Ask'
Bid
Ask
Banks
Slid
Ask
166.-
5-66
•
New York Stook Record-Concluded--Page 2
MAY 30 19081
STOCKS-HIGHEST AND LOWEST SALE PRICES
rday
Monday
May 25
It 23 •
--- _
85
*83
8512 485
*21
23
*21
23
41
*39
41
*40
1253 1234
125g 13
271: 253g 2634
20
12
12
12
1218
9
9
*912 10
18
18
18
18
14
*12
131_2
*12
1712 1712 *1712 1878
4312
4118 *40
40
Tuesday
May 26
Wednesday
May 27
53
21
sO78
1214
2412
13
10
17
13
18
4312
ThierselaS
May 28
*32
21
*3812
10,g
20
*11
9
1512
10
1714
*39
Irrtday
May 29
Sates of
die
*Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
14)27
Range Since Jan. 1 1908
On &arts of 100-share lois
Lowest
Niyhesr
Range for Previous
Year (1907)
Loweai
11 When
83 *82
21
*2012
40
39
12
114
2418 2134
M.*11
*8
9
17
*14
11
*9
1714 *1812
4312 *39
2 3 Unto Pacific, pref___ -- 7914 Apr 2" 8513 Ma0.2
83
75 Aug 06 Mae
100 Unit Rys laV't of Sian Fr_
22
15 Jan 24' 2412 Apr 28
NOt, 62 Jan
400
39
Do pref
2712Jan 72 43 Apr 25
20 Nov
MI Jest
1112 5,825 Wabash
634 Mch 3 1414 May21
8 Oct
1813 Jan
2
11...000
40
100
2233 16
pref
At.Ian
13 Mch 3 29 May22
1418 Nov
Western
1914
Maryland
5 Mehl4 16 May18
6 Oct
stfli Jan
812
Wheeling & Lake Erie
412 58th 7 1014 May22
Oct
111114 Jan
De 1st pref
17 1 1,130
13 Oct
3,34 Ian
1218 Apr 16 1012 May21.)
400
11
Do 2d pref.
8 Oct
Feb 27 1314 May22
294 Jan
400 Wisconsin Central
1712
11 Nov
1313 Feb 28 1913 May19
Jan
4312
500
Do pref
28 Oct
33 Feb 19 4312 Jan '10
511.3Jan
In dostrinifciliiscellaneong
A dams Express
*13612 181 *16613 181 *16612 181 *168 178 *168 181 *168 181
164 Jan 2 4185 Jan IS MO Aug 113o J'ne
914
9
1,100 fa Ilis-Chalmers
9
9
912
9
4 Aug
934 *912 10
934 934 *9
1678 Jan
5 Mch 6
978 May16
23 • 2234 2334 2378 245g 2438 2434
23
Do pre(
2418 241
45S, Jan
14 Nee
. 2334 24
14 Meh 6 2578 May18
1:0
90
40
5 Amalgamated Copper_
631 4 6514 633g 6514 6314 6538 6218 0418 6234 6412 6358 8471 186
4518 Feb 19 6934 May19 24134 Oct lti78 Jan
500 Amer Agrieultural Chem_
1912 1912 *1934 21
21
20
2012
1912 1912. *11)
*1912 21
713812
14
10 Oct
ryz3
4 28(2;
Ws Jan
*8478 86
*80
86
86
*80
86
1)o pref
*80
86
*80
*80
Apt
86
75 Oct
Jan
66 Feb
1810 1712 1712 2,100 American Beet Sugar___ _
17
1813 19
19
19
20
*19
734 Nov
20
21)
912 Feb 10 2478 Apr 23
2382 Jen
78
*75
*75
78
78
*75
78
*75
78
Do
*75
pref
65
75 /deb
*75 ' 78
.Ian 23 78 Apr 29
VO Jan
200 American Can
*5
*434 518 *434 514
514
5
5
4 Feb 20
*434 514 *434 5
3 Oct
712 Apr
512Jan 11
400
no pre
55
5514 5412 5458 *5414 5514 *64
*54
*54
55
44 Jan 4 1634 May13
54 g 55
001. Apr
34 Nov
3514 3578 8,440 American Car & Foundry 2513 Feb 13 3838 May19
357g 3612 3514 3633 3578 3612 3518 3612 3558 38
2438 Oct
451.-4 Jan
6712
*9812
98
40
498
*9612 98
*9612 98
Do pref
*9612 98
98
8414 Mch 4 98 May19
*07
78 Oct 103 J1111
30
30
' 30
2912 3012 3078 31
3038 3012 3013 2,280 American Cotton 011
291 2 30 •
2434 Feb 19 3458 Jan 14
3815.rly
21 Nov
90
*80
90
00
*80
*8(3
90
*80
*80
90
*80
Do pre
90
480 Jan 16 582 Mch14
go Jan
70 Nov
American Express
*190 205 • *185 205 *185 205 *185 205 *185 205 *185 205
4170 Feb 26 4224 Mayll 175 Oct 247 Jai
830 American Grass Twine_ _
*71 s 734
712 4712 712
712 *7
714 714 *7
913 Apr 14
314 Jan
378Jan 8
714 714
3 Oct,
500
American
331 334
Hide & Leather
334
234 Feb 26
312 312 *3
312 312
412 Apr 14
614 Jan_
358 358 *312 334
213 Nov
1912
*1712 1912 *17
19
19
*15
1914 *15
*17
Do prat
1213 Mch 4 2013 Mayll
*171 2 19
10 Oct
3012 Jan
2812 27
29
2812 2912 28
251 2 2738 2578 2612 28
1210 Feb 8 2912 May28
2834 33,355 American Ice Securities
88 Jan
818 Oct
11
11
11
*912
*1014
1114
100
*9
11
i
1112
*9
6 Mch 5 12 May14
American Linseed
*101
1012
638 Oct
1914 Jan
23
2514 *20
20
20
20
800
*18
20
211 2 2112 *20
21
Do pref
17 Mch 5 2612 May14
36 Jan
1612 Oct
483I 4918 483i 4912 4834 4912 4734 4812 48
4834 4814 4838 6.770 American Locomotive
3138 Feb 25, 5238 May 7
3214 Nov
7534 Feb
103
103
*102
*102
*102
103
103 *102 104
*102 103 *102
8512Jan 3 10312 May12
Do pref
83 Oct 11112 Jan
*5
*5
514 *5
6
*5
534
6
5
5
512 512
400 American Malt Corp__ 213 -Poe
3 Mch 2 634 2*2ch27
4712 Apr
31
*31
32
*30
31
600
31
31
31
*30
32 . 3012 31
Do pref
21 Jan 13 3412 5feh27
17 Nov
40 Feb
787
8
787
8
79
*78
79
*78
79
79
*78
100 Amer Smelters Sec pref B
79
*78
60 Oct
70 Jan 17 8214 May19
931.8 Jan
5814 Nov :155 Jan
701 5 7278 7112 734( 7233 7378 7214 7412 715s 7434 7238 74 208,540 AmerSmeiting & Relining 5512 Feb 17 7914 Jan 15
9738 9712 9738 9778 9713 9734 98
9634 97
99
9858 0858 2,450
Do pre
5734 Feb 20 101 May18
8134 Oct 11738 Jan
*180 220 *180 220 *180 220 *180 221 *180 220 *180 220
American Snuff
200 Apr 30 200 Apr 30 150 Oct 205 Jan
*90 100
*90 100
*90 100
*90 100
*90 100
*90 100
Do pref
412 Mch 23 96 Apr 30 470 Nov 102 J'ne
80
*631 718
150 American Steel Foundries
453 Nov
7 Jan 13
Feb 14
103. Jan
*634 714 *634 712 *04 712 *634 712
7
7
*33
38
38
*341 2 38
*3412 38
20 Nov
*34
*33
38
*33
Do pref
38
2618 Feb 14 35 May12
4712 Jan
12712 12914 12712 12834 12712 12838 127 12734 12834 129
*128 129
6,600 American Sugar Refining 9834Jan 2 13218 May15
9234 Dec 137/
1
2 Feb
*125 1345 *125 130 *125 135 *125 130 *125 135 *125 180
Do pref
105 Feb 18 12514 May15 3100 Nov 131 Jan
950 American Teleph & Teleg 101 Jan 8 120 Apr 24
1171 4 11738 11712 11712 11714 11712 11738 11738 11738 11738 11738 11738
88 Oct 133 Jan
90
90
9014 *89
90
90
92
*89
1,300 American Tobac (nett').Pt 7
9834 Jan
90
90
90
90
60 Oct
2 904
922118
2l
mm yy
128142
yigs
3 Jan
l
eFebb 117,
1,500 American Woolen
2158 2158 2134 2134 *2178 24
2112 1934 2078 *2012 23
20
Jan
11 Oct
*85
88
100
8812 8713 8712 *8034 8814 *87
Do pref
*8714 88
68. Nov 1027,1 Jan
*87
8812
4112 40
391 2 4118 39
4114 3914 4014 3914 4034 4018 4114 30,650 lAnacondaCopper Par$25 52713 Feb 19 $4614 May19 $25/
1
4 Oct MTN Feb
314 314 2,200 1BatopilasMinIng Par $20 8212 Jan 2:3 8.5 Itch 26
3
3
3
3
3
3
3
338
194 May
3
333
Oct
*112 120 *110 120 *110 120 *110 120 *110 120 *110 120
Drnoklyn Union Gas... 385 Feb 21 110 Apr 3
tO Nov 125 May
*813 1034 *812 1034
11
100 PrunswIck Dock &C Imp
9
*834 1034 *812 1012 *7
9
6 Jan 3 1134 May14
141i2 Jan
6 Oct
*19
22
422
22
22
22
*19
10
*21
*21
22
*18
22
Butterick Co
410 Feb 7 125 Jan 15
49t8 Jan
27 Oct
2414 2312 241.8 *2313 24
1,950 (Mentral Leather
1178 Nov
24 g 2518 2434 2434 2412 2478 24
1512 Feb 10 :712 Mayli
40 Feb
*9413 95
9413 9412
9412 0412 *9410 95
660 V.' Do peel
95
9518 95
95
7.534 Jan 2 9512 Mayll
68 Nov 102 Feb
2812 257i 2714 2513 2718 2518 2612 24,290 Colorado Fuel & Iron___. 1558 Feb 11 3134 May-20
261 2 20
2610 2734 .27
5778 Jan
14 Nov
2114 2013 21
2113 *20
21
21
1,900 Col & Hock Coal & Iron. _
2117 2178 21
2114 22
1434 Mch 6 24 May19
2816 Apr
14 Dec
12258 123
9.901 Consolidated Gas (N Y)-- 96 Jan 3 z129 May21
123 12612 123 12412 12314 12512 12114 12314 12218 125
74 Oct 14014 Mob
8
2,000
*15
1618
3
4
1614
16
161
1614
153
16
4
10
16
16
Corn
Products Refining- 1034 Feb 10 1814 May13
16
8 Oct
2434 Jan
71
71
311
*67
*6913 7114 6912 6912 *67
70
Do pref
7134 70
*69
56 Jan 2 7314 May18
88 Jan
48 Oct
34
3278 3414 33
5,750 Distillers' Securities 6orp
3334 3438 3414 3438 3333 34
2714 Feb 19 3734 May19
341 g 35
78 Feb
25 Dec
80
*70
*70
*70
80
80
*70
80
Federal
80
80
*70
Mining & Smelt'g 80 Apr 28 80 Apr 30
*70
50 Oct 163 Jan
*70
76
74
150
474
*72
Do pref
76
*72
76
75
73
*70
73
97 Jan
59 Feb 10 7612 May14
47 Oct
134 136 413718 1371s 413712 13712 1,260 General Electric
13638 13034 13213 13213 135 136
111 Jan 2 142 May15
8913 Oct 163 Jan
*83
*88
92
95
*88
92
*88
92
Granby Cons M S & P. _
95
95
*88
*90
7834Jan 2 9813 Meh3c
60 Oct 152 Feb
878
*7
*810 9
*7
0
0
*7
*7
878 *7
8
Mer Marine stk tr et-4
9 May1 1
7 Mobil
412 Oct
RIR J'ne
100 I Do pref
213'4' 2134 *20
*2112 23
2212 *2018 2134 *20
22
10 Nov '24 Apt
2114 2114
16 Feb 25 2334 May 3
101 a 1017 1012 1012 1012 1112 1012 1114 1012 1012 1034 1034 1,800 international Paper
1gi4 Jan 18
712 Nov
8 Apr 1
1812 Jan
5610 *56
500
58
*56
561 4 5614 56
Do pref
56
58
*56
58
51 Nov
56
81 Feb
52 Jan 2 65 Jan it
2214 22
*221 I 2317 22
2258 22
2214 2134 2134 2214 2212 1,500 Internat Steam Pump
41 Jan
8 Oct
13 Jan 2 26 Mch22
81 Jan
*711 I 7312 *7013 73 *7012 73
Do pref
73
*7012 7214 *7013 73
*71
50 .. Oct
65 Jan 10 7434 May15
000 iftckay Companies
*681 2 68
7514 Jan
66
66
6514 *6412 6578 6514 6558
65
6513 65
40 Oct
52 Feb 25 66 May19
700
71 Jan
6478 6478 *64
*64
Do pref
60
6812 65
6518
65
6612 65
65
50 Oct
5978 Feb 25 6734 May if
85
1,000 Vational Biscuit
84
*84
85
k6t, Jan
85
8512 8412 85
8613 8513 8513 *84
(18 Jan 3 88 May15, 6812 Oct
k I Do pref
*110 110 *110 116 *11012 116 *11013 116 *11013 11412 *11013 11412
102 Jan 2 116 Apr 22
90 Nov 1173r. Me"
*9
100 Nat Enamelig & Stamp'g
*914 10
10
*9
10
10
*914 10
914 914 *9
712 Feb 14 11 May14
1538 Jan
618 Nov
Do pre(
80
79
*70
79
*70
80
*70
*70
*72
78
87 Feb
*72
470 Feb 25 480 Jan 15 475 Sep
6478 6514 6838 6878 6778 6534 6778 6633 07
59,380 National Lead
6314 6434 64
7494 Jan
36 Feb 10 6858 May26
33 Nov
9914
300
*9812 100
9813 9812 9978 9078 *9813 9978 9914
*97 100
Do pref
54712 Jan 6 10034 May18
80 Oct 103 Jan
*714 731
80C Newhouse M & S_Par $10 $638 Apr 13 Ws Jan 20
714 714
7
7
714
$5 Dec 22024 Apr
7
738 738
714 714
6614 6734 66
66
68
8714 88
6010 6814 6814 68
2,410 New York Air Brake
*68
50 Jan 2 7312 Apr 14
4712 Dec 14112 Jan
60
61
5912 61
6018 6034 3,260 North Arherlean Co, new
5912 60
60 - (10
4218 Mch 5 64 May14
61
60
8924 Jan
37 Nov
2612 25
2612 2514 26
26
27
26
0,050 Pacific Mall.
27 g 2834 2519 27.
24 Apr 20 3312 Mch24
4113 Jan
19 Nov
9112 0012 91
91
91
gaits Jan
MOO I eople's
9112 9112 911i 9134 9112 9113 91
L & C (Chic) SO Jan 2 9334 May19
7014 Oct
*12
13
12
13
12
*11
*12
12
200 Pittsburgh Coal Co
13
.121 pi 1218 *12
813 MchI7 1438 May19
7 Nov
16k Jan
45
*40
*40
45
*40
*40
45
*40
45
42
*41
Do pref
45
60118 Jan
3612 Feb 14 4712 May19
37 ;Cow
*2612 27
28
27
2714 2734 27
*27
1,845 Pressed Steel Car
27
57 Jan
2613 27
27
1714 Feb 10 31 May 6
1558 Nov
92
Do pref
*84
69 Jan 3 86 Apr 28
64 Nov 9978 Jan
100 Pullman Company
1gg 1V) 486
*18
53
8 1g0 **
3
*156' 417
147 Jan 3 16112 Apr 29 13514 Nov 18118 Jan
37
37
37
*35
36
1,000 D allway Steel Spring... 2334 Feb 8 3958 May18
35
*36
36
36
36
3612 36
2112 Oct
571k Jan
200 IN Do pref
9913 Feb
*89
75 Jan 29 91 May19
72 Nov
4,200 Republic Iroh & Steel
1714 17-3-1 ?.114 C434 *V12 1
t114 1f1-2 *7?1,
l7
1434 Feb 11 20114 )4ay18
41 Jan
12 Oct
5,165
1)o pret
6 4 6714 6034 0712 6714 6712 6714 6712 67.12 6734 6634 68
64 Apr 20 74 Mch 16
6012 Oct 100 Jan
493
5112
4
50
50
2,550 Q1o8s-Sheffield Steel&Irn
4978 50
*4913 51
50
7724 Jan
491S 4914 350
36 Jan 2 5214 May14
26 Oct
*92
95
....,- - _.
95
95
*90
96
200
.._
*03
Do pref
*90
14712 Jan 7 95 May26
go Oct 4107 Jan
3634 8,100 (rrennesseeCopper Pail25 $2512 Feb 17 $4234 Mch30 $17 Oct $5313 Mch
3738 38
3678 -373-4 3634 3773 . 3612 3714 36
36 8 -37
6212 60
300 Texas Pacille Land Trust 45 Feb II 60 Apr 24
60
*58
60
57
57
6212 *60
6212 *60
85 Jan
*60
42 Dec
750 Tilton Bag & Paper......_
658 Apr 14
ma Jan
4 Feb 21
51s 518
513 512
5
. ---- ---- -.-612 512
5
4 Oct
447 Jan 6 58 May 4
,.m-) Do prof
3934 Nov 61 Jan
- *V714 /C7114 *3r4 ?il: 1,880 U S Cast I Pipe & Foundr
1712 Feb 26 29 May18
' -i.3.8 ii7s
4912 Jan
17 Oct
4 -ii1-4 -17i2 ig- -Yif2 -if
474
_._..
74
*70
75
40
Do pref
. 7612 47334 7334 *7334 76
56 Jan 2 76 May15
89 Jan
49 Nov
*70
80
*70
85
*70 -80
80
*72
United States Express_ _ _
*75
90
*72
90 Jan 6
85
70 Feb 1
70 . Nov 5117 Jan
1.400 11 S Realty & Improvem't 3614 Feb 5 5238 May25
40
9012 Jan
36 Nov
141
11 S Reduction & Relining
*10 8 12 *%12 Ts *VI
1314 May15
4 Feb 21
61.1 Nov 3014 Jan
*22
28
*22
29 *__„ 28
*26
Do pref
*23
32
28
*26
32
16 Feb 10 3338 May16
1814 Dec 6U Jan
2412 2514 2412 2434 3,330 United States Rubber
2518 2558 2518 2558 25144 2512 2414 25
1734 Feb 10 2658 May18
1313 Nov
5212 Fib
94
1)2
9113 9112 *01
0034 904
03
92
91
9114 *91
Do lst pref
700
76 Feb 19 95 May19
62 Oct 10918 Jan
61
*58
58
58
61
*51
60
6014 5934 5934 *58
111
700
Do 2d pref
7818 Ja.11
42 Feb 21 8114 Jan 23
39 Nov
3612 3813 3652 3712 3612 3734 3534 3634 3578 3678 36
3714, 438.605 United States Steel
604 Jan
9534 Jan 2 3938 May18
2128 Oct
10013 1011i 29,935
100 102
10012 10158 10058 10134 10018 10078 10018 101
7918 Nov 1073.4 Jan
Do pref
8712 Jan 2 10334 May18
31
3114 31
3110 31. 3138 3(138 3112 3078 3118 *3012 31141 6,025 dUtah Capper_ _Par $10 $20 Jan 2 $3412 Mch27 $13 Oct $3912 Mch
*23
2312 *2213 24
25
24
24
*24
24 1
22
23
23
800 VIrelnla-Carolina Chem
3938 Jan
18 Feb 27 2134 May14
123s Nov
*9712 9912 *97
Do pre!
z87 Jan 2 10012 MaY10
*9712 8912 *9712 99 '
9912 *9712 0913 *9712 99
75 Nov 108 Jan
55
*50
51
62
*48
*48
52
*48
50
53
50
*48
200 \Villa Iron Coal & Coke 43 Jan 7 56 May15
97 Jan
31 Oct
*250 305 *250 305 *250 305 *250 305 *250 305 *2no 305
ells Fargo & Co _ _
4250 Feb 13 3260 Mch30 2.50 May 300 J'ne
5710 . 56
57
58
58
5714 58
56
58
5(13
estern Onion Teleg
58
f.if56
57
41 Feb 19 6118 May19
54 Dec
85 Jan
515i . 5012 51
50
46
49
51
5110 49
50
40
6,848 WestinglfseEl &Mfg assen
50
38 Mchll 58 Mch26
32 Nov 154 Jan
an
.
ft g
RR
RR
1,- in
it
*7(1
71
7nt, 70i. 1,001
66
De 1st pre!
58 Met)24 80 Afch 30
60 Dec 4160 Xrav
*83
*21
*38
1212
2518
117g
9
1834
1314
1712
*39
85
24
41
13
2612
1214
10
19
1314
1712
43
83
*21
40
12
2338
*11
*812
16
*11
*1612
*39
rnt
*121 123
12g 12L AL
'0.2 '11.4 '?112
N **1.3 li 413 r3 ,!(3
BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS
Banks
Ask
Bid
Bid
Ask
Ask
Ask
Banks
Trust Co's Bid
,Irk
Trust Co's Bid
Trust Co's Iltd
Trust Co's Bid
AM
--Brooklyn
N V City
-- 415
Union Exe 1 175
Mut All'nce 160
180
Fifth Av
Brooklyn
Ilowl'ir Gr'n 300
U S Exehl. ,-_- - ----- NY Life&Tr 1000
- 24315
-0
Fulton __Tr..
_-. Brooklyn Tr 3390
140
Biwa)
, Tr-- 120
Wash H'ts II 230
---- ‘fontauk -- 120
-N Y Trust_ 490
--- Gtlar'ty Tr_ 390 410
510 Citizens' _. 115
1-30-- Nassau ---- 240 270 Carnegie - - t150
West Side ¶ 500
_ __ Guardian Tr 180
190 Standard Tr 325
_ __ Flathu
-.sh
240
960
150 TitleGu& Tr 314)
Yorkville 1. 400
125
_Nat Citl',-- 275 300 Central Tr_ 1500
_ .- litItIsern..125
Franklin _ _ 151I
211)
North SideI 320 340 Coludibla _ _ 200
21-0 Knicirerb-ler
..... 375 Tr Co of Am 260
270
__- II amilton _ _ 250
2'75
165 Commercial
Prosp'etP0 165
m
Brooklyn
160 Law 'I' I &Tr 1.
05
200
150
70
Union TruSt 1100 1200
Home
55
Borough 1, 120
150
l'erminal. II- ..... 130 Conewealth t75
__-_ Lincoln Tr_ 190
200 qs Atte &Tr ..... 385
Kings Co
435
455
____
Empire ___ 335
Broadway 1 400
400 Unit States_ 1080 1110 Lafayette
_ Manhattan_ 350
100
_
Equit'ble Tr 375
First
130
825 VanN'd'n'fr 296 305 L Is1 L & Tr 240
_.__ Trust Co's
415
_-- Mercantile _ 775
260Rome
. N Y City
- _
Farm Lo&T 1050 1100
Metropor tn 500
Washington 400
___ Nassau._ _ _ 150
190
, Fidelity _. _ 190
Manufac'rs'
___ Morton Tr_ 400 420
--- Astor _ _ _ _ 275
likl_390- 425
People's
Westchester 135
145
260 280
Pankers"rr 435
14,,,,n1.,91 250
260
480
--105 Windser
Muttlal ___ 95
._-- 165 Williamsb e
• 111(1 and asked prices. no sales on this day. 4 Less than 100 shares. I Flx-rights. b New stock. c Ex-(11v. and riehts. 4 Now quoted dediars per share
I Sale at Stock Exchange or at auction this week. s Trust 0o. cetIrleatel 'I Banks marked with a pnrarr...7)h (17) az.) State banks.
New York Stook Exohange-Bond. B ?,00rd, Friday, Weekly and Yearly
OCCUPYING
V- I. it • PAGES
.3
es
N. Y. STOCK EXO Fr A NGE
Wks& Espnve MAY 29
41
.
1
*A,
.Price
Priday
Nay 29
Week's
Range or
Last Sala
Range
Since
41:c. January 1
BONDS
V. STOCK EXCHANGE
WIZEIC ENDING MAY '29
;17.°
Prree
. :Friday
. May ?9
Week's
Range or
. Last Safe
range
twice
January 1
High No f,oeu
Ask Low
Elia
NW,' No
fia
Ask Low
Cent of Ga R11.-(Con)
38,4 May'08
40'
27
35
37
4 May'08
/
4 103% 1031
/
1031
Su pret income g be. .p1941 Oct
1033
.1041
4
/
:47
.37
'27
4019
1041
4 Jae'08
/
35
37
10334
1041
4 1041
/
3t1 prat income g be stampea.
4
/
eb'01
F
*
,,
8113
8
895
89%
•
4 Mar'08
/
101 1011
4 1011
/
1011
41004
/
Chatt Inv put mon g 40.10.31
4
4 tret008
/
1001
4 1001.
/
1001
102
101% sale 101% 101% 2 101 102
Mae du Nor Div let g 50.19413
115 Nov'05 ••••
107 .1'ne'00
Mid Ga & AU Div 58-.1947 3-3
...
103
'07
Dec
4
/
1071
1011
Feb'00
4
/
1001
4
/
1015; 101..2 Mobile Div 1st g 5a 1046 J-J 98%
6 92 100
4
1
98/
1201
4 121 kg 12012 Mar'08
/
41221
/
1181
4 den RR& 13ot Oa col g 561087 M-N
/
117 124%
4 1241
/
4 124¼ 1::4
/
123 Apr'08
122
120% 1231
4 Uent of N geu'l gold 50.1987 J-J 1241
/
4122
/
1201
Apr'08
111
122
12219
Mar'08
4
/
1031
4
/
1021
41987 cz-,1
Registered
4 103
/
1031
,
107 19814
114 Feb'he
Ara Dock & Imp gn 58..1021 J -J .40834
102
4
1
/
J-J
1W20
5s
Foreign Government
g
gen
R
Hutt
&
98
98
98 Apr'08
97
Leh & Wilks B Coal 50-1912 M•N
Imperial Japanese Governing
93,2 100
991)
100 May'08
13 85
88
4
/
40-.0910 I0•M
/
1925 F-A • 88 Sale 871
91
Con ,ext guar 41
sterling Loan 4'-i.'
87'
35
4
/
87%
871
88
4
Sale
M-S
1
g4t3.104
gen
J
4
/
831
1025
89
43
1
N Y& Long Br
•2d series 4/
4 67 •75
/
791
4
/
e So Pacific Co
1931 J.J I 703s Sale 781
80
Cent Pacific
Steriing loan 4s
88 May'07
4 10314 10 1001
/
4 104
/
CentVermont let gu 948.61020 Q-F
Repab ot Cuba 50 eaten debt.. B-it 4103 19 Sale 1031
413
9
1481
99
4
983
1891,
or
5s
g
96
901
9-3
U s or Mexico s
4 Chas & Say See ALI Coast Line
/
4101/
1
101
4 103
/
1001
4 101
1
9334 May'00
1954 J-D
9334
901
4 941
/
Gold 4s of 1004
4 . thee dr Ohio g 60 ser A-41908 A-0 100/
/
4
/
103 May'08
102 1051
are pr ices on the 1.. asi of $5 to 2.
a1911 anA.-NO 10234
$ 7 be
Gold&
112
112
4 11.1 14
1
/
112
107
1121
4
/
State and City Securities
M-N
1930
let consol g 5s
4Dee'07
/
1011
111 Mar'02
97
1921 J -J
Aiatninia ourr hind 4s
1939
Registered
20
12ale 1001
4 101
/
4.
1
11719 J'ne'06
1992 M-13 100/
General gold 4Lis
Diet of Columbia 3.653- 1924 F- A
104 May'06 •
10519 Dee'04
97
Louisiana now comet 48-1914 I •J
Registered
112 FelPtie
) 1J3 100
2
(
94
199
Craig Valley 1st g 5s
Now York City1
97
4 97
/
981
4 669 105381.11
/
. 1091
1957 11-N 109 Sale 1.083
R & A Div lat con g4s 1989 J -3
New 4 Its
95
921
4 May'08
/
41 101 14 1041
104
104
1917 11-N
4
/
2d consol g 40
4s
1
New 4/
1131
4 1 105 110
/
1001
4 1,-,445
/
41091 100
/
-8 100
j4
9M
41
08
Warm Spr Val let g 5a 19
40
1
4/
/
8 Corporate Stock _1957 M-N 1081
9934 Fon'06
4 May'OS
1
4 104/
/
1041
102 1041
1917 M-N •
4
/
Greenbrier By 1st gu g is'40 51-N
419(% assessint bon,18
74
1 67%, 78
Chic & Alt 11 11 ref g 3s 1940 A-0 74 Sale 74
New York State-Righ e ay
68
3 60
4
/
671
67
68
4e-1950 J-J
/
Railway let lien 31
Improvenft 48 (rects) 1958 M-8 109% Sale 10938 1093, 10 109 109s4
May'05
'07
Apr
4
/
80',
1001
.T-J
1950
0'7
-J
J
1910
48
ecnitiol
Registered
Carolina
North
100
5
100
100
97 100/
4
1
Mar'07
126
1919 4-0 114
Chic Burl& Q-Denv D40 1022 F-A
Ss
9718 Sale 97
0734 891) 97
Ulu.
120 'Mar'00
1933 J-J 103
4020-40
1
J P M & Co recta for gen 4180'4518,
So Carolina 4/
3
,
4
881
89
Sale
4
/
2
/
881
1.0.9
86
May'08
96
j"
-J
94
94
-J
J
96
1913
30
Illinois Div
Tenn new settlement
e£319 00 Sep'06
4 92
/
011
90
00 Mar'08
J
90
Registered--- --------114414
Virginia fund tient 2-88-1991 J -J
131) 971
410169
/
40
'22 221
37 Sale 37
4 43
/
1940 J-J 101 Sale 10014 101
Gold 4s.
6s deterred Brown Bros ctts.
.106 Jan '08 • ... 106 106
.106',
A-0
56-111114
Iowa Div 8111k fund
118 Apr'08 ...• 90
911
4
/
1.91
Itailroat:
Sinking Lund 4a
4 Ntay•08 .,•. 119 101%
/
90% 1011
N
A-O
9M
A bibama Cent see So Ry
17
192
Nebraska Extension 48.1
4 May'08 .•.• 1011
/
4 1011
/
1001
4
/
41011
/
1027 M•N
.n.labit Mldt See At Coast Line
Registered
93%
00 (Jet '07 •... .....
.
Southwestern Div 4s--1921
Albany& Snarl bee Del& Hub
Joint bonds See Great North
Allegheny Valley See Penn 1114
4
/
1 9744103',
1913 N1-14 1021
Debenture 5s
Alleg & West See Butt & P
4
/
••.. 1041
4 10538
/
804
4 2 781
/
801
4
/
801
4
/
4 811
/
Han & St Jos consot 68 1911 M.8 1051
41996 Q-J
Ann Arbor let g 48
92
4
/
4 198 951
/
981
4 1011
/
4 Ohio& E Ill ret & imp g 461
/
:93 82
j.
34 4,1.
1)55
19
!Itch T 4.41, S Fe-Gen g 43.1095 A-0 'J8 Sale 971
121
131
Apr'08
utS
4
/
051
100
Be
A-0
g
consol
••••
1905
let
Registered
4Sale 11119°
/
4
1
F
1
rr0:
1
eb
)
1
:11
F6
13
83DAA
4
/
32411
1
:
18
1:
4 27 83
/
881
4
/
881
88
1124
87
4
/
881
General eon/toilet58- 1937 X-IN 1111
41995 Nor
Adjustment g 48.
86 Apr'07
Registered
1937 IT-N
h1995 Nov
Registered
'00
106
Jan
1011N
101134 109',
4
/
86
861
31
Sale
4
/
821
By
89
C
11-N
let
Ind
86
56
1936 34
Chic &
41995
Stamped
93 109 8534 93% Chicago & Erie See Erie
1)1% Sale 91%
1055 J
Conv g 40
4
/
1241
4 125
/
1241
11714 125
4 102% 70 941
/
947
4 103
/
Chic 1n& Lothar ref 6s. 1947
1917 J-D 102% Sale 1021
10-year cone g 5s
105 Oct'07
103%
gold 5s
98% Maygri
di
Refunng
Debentures 48 Series(1 1909 F
4
/
.Mar'08
100 1011
1003
4 Mai'08
/
961
Lonisv N A &Oh let60 1910 J-J 103
4
/
4 961
/
961
1910 F-A
Series H
4
/
4 106
/
1 1031
4 1051
/
1051
J 10514
,No4-104
981.
Chia Mil & St P term g5s 1014
1911 F-A
Series I
4 7 100 103
/
1021
General g 4e series A..e1989 1-1 102 Sale 102
94 Nov016
.1913 F-A
Series K
ay
44 Oct
/
41
083
18
4 97
/
137
2 951
06,
9 071
4 97
/
East Okla Div let g 48..1928 M-S
89
851
4 00/
/
4
1
9 e settee B.e
4
/
e1
gr3
ste
Rneegrial
Ge
e198
C1-1
93
89
ktlKnox&N SeeL &
4
/
. ....
4 Oct '05
/
1151
1921 J-J 1091
93
Ohio L Su Div g 5s
4
/
93 124 80
92% 931
4 921
/
Atlantic ()omit 1st g 40.41952
141 11L
.
1 1
4 1l2.44 11134 111%
/
Chic do Mo fir Div 58-1026 J-J 1111
Charles & Say let g 73-1930 J -J 120
t)tts
ju
104 10434
104%
4130
4
/
Chic & Pao Div 63
104
4 1111
/
1111
4 Mar'08
/
1111
W let golti 6a..1934 A-0 109 •
Bay If
4
/
4 1 11,8%1101
/
4 1101
/
Chic db P W lat g 6a
19
J -J 110 11.1 1101
1 j-j
1°
92
11238Jan'04
1934 A-0 106
let gold 5s
4
/
4 1061
/
1041
Dak & Gt So g 5a.
114% Not'05
.1916 3-3 106
1001
4
/
Ala Mid let gu gold be ,1922
121
alum
Far
(la
Sou
g
&
-J
J
1924
Mar'06
4
/
1391
J
Bruns& W lat gu g 4s -1938
4
/
41021
/
1021
10.2 Jay '08
83
Haat & D Div lat 7s
4 31 74
/
821
1910 J-J 106%
1
,
Si Salt 81
01952 51-1
& N coll g 44
101%101%
102%
lathe
10134 Alit"ob
94 .7'ly'07
So
SU Sp Oca & G go g 48 -1918 -J
I & D Eaten let?.
182.21
,91"06
00
19
8 j4
01
J-3
Atlantic du Deny See South By
106% 1081
4
/
108
LaCrosse & D let 5e1919 1.3 108%
Austin & N W SeeSon Pacific
8
90
100%10034
931
4
/
Aprk'eu :008
92%
Mineral Point Div 58
1100434
1010 J-J 10234
0
423.1925 1.3 92 Sale 92
1
Dalt& Ohio prior 1g3/
100.4
90
4
/
104%
•.•
1041
801
4
/
Apr'08
•
8°
lat
Minn
Div
00
6a
J
1910
-J
Registered
41925 Q-3
4
/
4 102
4
1
/
101 1031
911
58 961
Southwest Div let 643. 1909 J-3 103/
4 May'er
/
1031
41948 A-0 9819 bale 98%
Gold 40
4 061
/
951
95
4
/
4
/
198 1081
4
/
Apr'08
Wis & Minn Div g 5s. 1021 1-3 1091
05
0, 4. sAci00
10
:
98
Registered
/41948 QeJ
4
/
'01
1051
4
/
1051
Oct
105's
lat
120
'No
&
J-D
Mil
L
I
66.-1010
Pitt* Julio let gold 6s...,1922 -J
10934
4
/
4Dee'07
1
4 1081
/
1081
1st conaol (is
60/
86
81
PJun & M Div let g 31981925 11-N
115 11734
4 1
1
90/
4
/
88
008
°
11th 1181
atu;ry: 0
t
191
Ohio& Northw 00E1878
90 Sale 99
911
P L IC& W Va Spire( 461941 111-14
59% 17
1.19
Extension 4e
1886-1926 F-A
8934 Sale 8014
Sonthw DIV let g 3¼s...1925 J -J
80 Oct'06 •...
984
Registered
,
138,
1836.1926 F- A
41925
Registered
4Feb'07 •. •
/
90
A1)2
9234
General gold 312e
01%
1987 N1-N
Monon Rh,let go g 59-1919 A 101 .-.. 1051
109 Apr'05
Registered
05 FelP0-4
U0
p1987 Q-F
444-1030 II-S , 96•
/
Oen Ohio R lat c g41
10034 J'ne'07
4
/
4
/
4 10 1071
/
Sinking fund 6s. .1879-1929 A-0 1111
4 1111
/
4 1111
/
1111
el Lor & W con 1st g 5s 1933 A-0 10.1%
11() May'08 .•••
Registered
4 Jan'08
/
1081
4 1081
/
1081
4
/
Ohio River RR let g 56 1936 J-1) 106
C 107
-O
9 A920
19
4
.
0
879
Sinking fund 5e. .1
18
109 MILL'1/
108 1011
1937 A-0 103 105 100% May'08 •..•
General gold 58
4 Mar'04 ••.•
/
1191
Registered.
104 Nov'67
1879.1920 A•0
Pitte Clev ter Tot let g 6e 1922 A-0 107
4 Oct'07
/
881
41021
1
90
1 100/
Debenture 5a
4
/
101 111034 10034
P.M& db West let g 4s 1917 J -J
104J Nov'04
4 1011
/
Registered
Register
4
/
1 10111
4a 1943 J-D
1
Stat let By let gu g 4/
In Fe
4
/
104
1VOigDebenture 58
105 1051
Bat, Creek da 3 See Mich Cent
Registered
103 J'ne'07
Beech Creek See N V C & H
NN 1091
N
1MAAI--- 8
4
/
191 011
Sinking fund deb 5e
22"03
99993
11110
1
Bellev & Car See Illinois Cent
aY°
r:00
7 1..Mia
8
109
Bklyu & Montauk See Long 1
y
lirneodis let 5s
ItIe
4 111au
31
4
1/
)1
ltegis
. 191
North
0
3 N
(
30
S 101%
Braes du West see ALI Coast L
Ott e do St Paul let
1900 M•S 101% Sale
Bullalo N Y & Erie See Erie
4 Apr'08
/
1101
108 1101.•
Mil L St* Weal let g 68 1021 M-14 118 12
11804 Apr'08
Banal.) It & P gen g 5s 1937 M-S 1094
4 31ar'ut3
/
4
/
1011
4
/
Ext & Imp afund g 6s 1029 F-A 1121
4 1011
/
111 Apr'08
1011
1957 PA-N 101
40
/
Comm!41
98 Dee'07
Ashland Div 1st g2e 1025 M-3 1.22
4 Foli'02
/
1421
•
......
Al.oa Wow.1st g 4s gu-1998 A-0 96
1024 J.J 12219
103 Apr'97
Mich Div lat g 6a
4 1i'ob'011
/
1281
1943 J-3 104
Cl do Mali let gu g 5s
4 Apr'08
/
1151
97
.. 1151
109 Sep '03
4
/
1911 M-N
Hoch & Pitts is; g 6s 1921 F-A 117
ChiejnaTketil ds Pao 6a. 1917 J- J 115
117 Mar-Us
115 . 1 112 115
115
117 117
4
1
1922 -D 120/
Consol let g Gs
115 115
Registered
115 Apr'08
1917 J- 3 113%
Buffalo & southwest See Erie
4
/
41 91 1001
99
8619 91 Feb'08
General gold 4a
91
91
9" 98
1988 34
Butt ob Susq let ref g 4841951 1-1
.97
14 961
97
Registered
4
/
061
97
1988 34
BurCR&N SeeC.13.1&P
4
/
831
88
87%05
108
4s
g
1071
21
Refunding
41081
/
4
/
87
1081
4
/
87
Sale
1084
1913
tan So let ext 6s
..
Ali
4 1011
/
(Joil trust Series!' 48 int
4 1 981
/
1011
4 1011
/
1)7 J'iy'04
4
/
_
4
/
1913 M- S 1011
vAld 58
J 40
4 Nov0)43
/
10034 Ma7'07
921
94
1912 M-N
1913 M-S
egitnered
'07
Jan
4.8
4
/
901
Carb as Shawn See Ill Cent
N413
Carolina Cent See Seab Air L
1
07
•eabY:°
04s
3 INJul
90%
Carthage& Ad Bee N C&
'037
7627
1918 td-N
P 4a
1: Aug
74
6
8
Ced R Ial&N See BO it&
.4-2 il-'5 69
ChM RI & Pao RR 40-2002 N1-N
66 Sale.
Cen Branch fly See 3to Pao
4 621
/
621
4
/
112 112
6214 San '08
112 May'08
Registered
2002 3,1 N
Cent of la RR 1st g 5a-p1945 F-A 117% a
4 76
/
47 5111
Coll trust gold 50
1913 11-S
71 Sale
4 107
/
4105 10419 10419 1 971
/
1945 11-N 1041
Consol gold 5s
Bur(led B & Northern113 Apr'06
......
Registered
1945
106 111,
110% Mar'08
73
Cm 1st do col tr g 5a 1934 A-0 108
71% 5 55
71%
let prat income g 5a ..p1945 Oct
71
4 Mar'03
/
4
/
Registered
1 65
211
71
1201
71
-73
Stamped
A1 A-8
1934
ORIF& NW latgu 56.192
111 Nov'06
4734 33 45
50
101
2o prer income g 511.--.P1945 Oct
46 Sale 46
M & St L let gn. g 76 1927 .1-1)
2 44
46
50
2d prof income g 50 stamped .... 46 Sale 46.
ll
ovtrmnelIi
U 8 28 consul registered41930
611030
U S 28 oonsol conpon
k1918
S 38 registered
F
k1918 (1-F
U 8 38 COUIUM
U S 3s reg small bonds_ k1918 Q- F
S 3800u small bon(le-1C1918 Q-If
1025 0- F
U S4arertstered
F
1925
1.1 843 coupon
U Bran Can 10-30 yr 28.k11134: Q N
•
•-
.-•
•
• - -•
-•
•_
•
.•.
••.•
•..
•..•
•
-
•
.
•-•
*.
MISCELLANEOUS BON 0.---Continued on Next Page.
Street Railway
1 91 100
100
Brooklyn Rap Tr g 5e
1945 A-0 98 100 100
73% 548 651
1st refund cony g 4s
4 75
/
72% Sale 72
2002 3-J
1 991
102
4102
/
Bk City let eon 58.1916 1941 • J 10219
102
•
,Oct'07 •.
951
93
• Bk Q Cod:S con gu g 58 1041 M•N
88
6
9014
4
/
Bklyn tin El let.g 4-56 1050 F-A 991
4 Sale 99
/
4 1011
/
931
98
98
98 Apr'06
Stamped &mar 4-53
1950 F-A
4
/
4 811
/
811
4 May'08 •... 811
/
Kings Co El let g 48.-1949 F-A
81 77
81
4
/
821
4
/
Stamped guar 4s
81 Sale 801
1949 F-A
4 21) 75
/
771
80
4
/
771
Nassau Elec gu g 4a
4
/
771
1951 .4 -J
95
95 Mar'08
95
Conn Ry & List& rag 4/
48'51 J -J
1
4
/
981
4 95
/
931
94 Mar'08
Stamped guar 4128
4
/
981
1951 J •J
95 J'ne'00
Den Con Tr Co let g 50 1933 A-0
4Dee'07
/
791
48 1032 J -J
/
Det United let con g 41
94 Jan'08
94
88
94
HaVaus, Rice consol g 58 1952 F-A
67% 1731 491
4 68.
/
4 Sale 66
/
1956 A-0 671
Inter-Met coll 4 428
4 277 100 1001
/
4 1001
/
4
/
1911 MN 100 Sale 1001
3 yr cony note-, Rs
60 • (35
Internal Trac coil tr 4e 194:. J.J * 63½... 62 May'08
98 May'06
......
Manila Elec lat & coil 53 1953 at-s
No price Friday; latest price Vans week. aDue,..i an 4 Due Apr e Duo ,tay
Street Hallway
I
4 28 68
/
781
Met St By gen col tr g 514 1997 F-A
85
78 Sale 78
50 May'08
49
2002 A.0
.56
Bet g 40
53
93 May'08
13way do 7th Av late g 534143 1-1) 100 102
93 102
cot& 9th Av lat gu g 56.1903 11-S 96 08 U7' May'08
95
119
96 "May'Os
LexA.vdb P F lstgu g5a 1993 M-S
trn
98
07
Third Ave ER con ga 4s2000 J-3
57 May'08
4 63
/
491
4 21 .50
/
501
Cent Tr Co certfa stmpd.
56's 56 ,
62
4Apr'08
1
Tlurd Ave By 1st g 58 1037
101 100
104 110 104/
.2.1'iy
Met WS El(Chic)latg 48 1030 F-A
......
109 J'iy'06
Mill El Ry & L 30-yr g 50 1926 F-,4 101%
10712 Feb'06
Minn St Ry lst con g 58 1910 J -J * 99
901
4 tiep '06
/
4e 1935
1
N On 113- & Lt gen 4/
J
Oct'06
St Jos RyLtif & P let g 58'37 51-N
4 Neellti
/
1101
81, Paul City Cab con g 58.1037 J -J • 99
Underground of Lon 5s. .1008 J-D
4
/
4 Apr'08
/
411
4 411
/
411
4101 .
/
Union .E1(Chic) let g 58 1945 A-0
1001
100 101 May'08
73%
United RRa San Fret 444 1927 A-0
50
4
/
731
4
/
4 731
/
691
85
United Els St L 1st g 48 1934 J-J •
76
82
4 May'lle
/
821
gibe J'ne aDue sa
re Due Aug o Due Oct
p Due etar •Option dal*
......
New York Bond. Record-Continued-Page 2
MAY 30 1908.4
114M13
N.Y.STOCK EXCHANGE
WgR Eittimico MAY 29
.2!4
Pries
Friday
May 29
Week'a
a, Range
Range or
Since
Last Sale ,S8•ti Avaary 1
High No f,et, jJtqh
Rta
488 Lots
ChigiRock i & Pae.,-(Con)
1041
/
2Jan'08
10419109,..1
Choc Ok & 0 gen g 55.o1919 j-J 103
1952 M-N 105 101 111 May'06
Consol gold 55
991
/
2Jan'08
98N100
Keok Ss Des M 1st 55.-1923 A-0 9938
Clito est & N 0 See Ill Cent
Clue St L & Pitts See Penn Co
4
131
1281
/
2 1281
/
2 1 121. 1281
/
2
Chic 3t P M 80 0 con 65-1930 J -D. 1281
93 Dee'03
1
213.1930 J.D 90
Cons 68 reduced to 3/
124 Jan'08
t24 124
Oh St 284 Minn 1st g 65 1918 M-N 126
126
Alar'04
12934
Nor Wisconsin 1st 68-.1930 J -J
116 May'08
/
2
110 1171
St P.& 13 City jet g tle. .1919 A-0 115%
112 May'08
112 113
Chic& West Ind gen g641932 Q•I'd
9.134 May'08
1052 J.
95%
91
Consol 50-year 45
Chic & W Mich see Pere Marry
Chao0& Gulf See 0 It I80P
113 Oct 10o
1
28-1987 J •J
t)ln & 13 2d gold 4/
102 J'ne'07
UlnD& 1 1st gn g 58-1941
80
& Ft W ltstgu4sg.'23 M-N
C
83 Jan '07
771
/
2
......
Cin I & W 1st gu g 45.1953 J -J
/
2 Oct '07
981
......
Ind Dec cfs W let g 56 1935 J -J
1071
/
2Dec'02
1935 J.J
......
1st guar gold 55
CIStL&C tieeCCO&StL
Cin S & C See(JO C St 1.
inearlield Ss Malt See 11 it &P
97%
/
2 09
/
2
97% 2 921
Clev Cm C& StL gen g 48 1993 1-0 971
96
96
96
193i) J -J
1 110 96
Cairo thy 1st gold 45
91
95 Sep '07
(An W & M Div 1st g 45 1991 J-4
91
93 Apr'08
93
00
St L Div 1st col tr g 45 1990 M-N
199) M-N
91 Oct '07
Registered
92 . Feb'08
92 92
Spr & Col Div let g 45 1940 51-S
8516
08 Sep'06
W W Val Div let g 45-1941 J -J
103 Jan '04
C 1 St L& C consul 68 1921 M-N 10114
9614 9511
k193b Q-9
071
/
2 95% Apr'08
1st gold 45
k1936
981
/
2 Oct'07
Reglatered
109 J'ne'07
Cm S& Cl con let g 55-1928 -J 104
114
114 Apr'081914 J
°CC& 1 consol 7a
114 114
1914 -I)
Cousoi sink fund 76
General consol gold 66 1934
121%
121 Apr'08
120 121
Registered
1934 J -J
94
Ind Ill& W 1st prof 45 1940 A-0 • 93
94
95
95
2 94
0 Ind (13 W 1st pf 55,...611938
Peo & East 1st con 4s 1940 A-0 891
/
2 90
90
81) Alay'Ob
85
Income 45
45
1990 Apt
48
46
46
4214 60
Clay Ai Marietta See Penn RE
Clev & Pitte see Penn Co
Col Midland 1st g 4s
24 651
/
2 621
62
/
2 621
/
2
/
2 63
1947 3-2 611
Colorado & Son 1st g 46_1929 F -A
89 Sale
/
2
' 8944 (5 82
901
Behind & ext 416s
791
/
/
2
2 80
1935 M-N 7914 80
39 73 821
Coltun & Greenv 5e4 So By
Col & Rock Val See Hock Vat
Col & Tot See Hock Val
Col Conn 80 Term Hee N & W
Conn & Pas Riva 1st g 4s.1943 A
92
91 Apr'08
1952 J.J
91
41-1.
Cuba RR 1st 50-yr 5
M& kit P
be* C g..
I gag & Gt
K &'1
Mathis & Waco Bee
Del Lack & Western117is Mar'08
11414 11816
Morris& Essex lst76-1914 191-}: 114%
/
2 1201
/
2
/
2 1 1201
1201
1915 J-1) 1201
/
21201
/
2
let consol guar Is
127 j'ne'05
1915 -I) 31834
Registered
2000 J-D 8834
/
25
lat ref gn g 31
11914
117 Mar'08
11614117
N Y Lack & W 1st 65-1921 2.3
/
2
Construction 55
108%109
109 Apr'08
1923 F-A 1081
99 May'08
Term & improve 45.-1923 M-N
/
2100
941
971
.99
8614
Warren 1st ref gn g 316,1.2000 F-A
102 lfelP03
123
1211
/
2Apr'08.' •
Del .9 J.luil 1st Pa Div 78 1917 M-5 12114
Registered
149 Aug'01
1917 M-S 12014
10-yr cony deb 48
100
1916 J-D 1*9
100 .
9414100
1st lien equip g 41
1922 J-J
98.
1
97 Mar'08
137
/
25
06
A.lb & Sus cony 31
_
18 9134 97%
/
2s.-4946
06
A-0 951.2 Sale 9516
.
Hens & Saratoga 18t 7s.1921 M-N 1251
1281
/
2Feb'08
/
2
1281
/
21281
Del Itiv RR Bridge See Pa lilt
Deny & it Grist eon g 45 1936 4 92. Sale 92
93; 17 901
/
2 951
/
2
98 Jan'08
Oonsol gold 41
1936 -J
/
25
98 98
100 100 Jan '08
Improvement gold 55-1928
100 100
98 Feli'08
Rio Or Juno 1st gu g 54.1939 J-D • 985
97
98
1940 J-4
76 Dec'05
Rio gr So 1st gold 45
85 Mar'08
Guaranteed
145
85
90
8914 JO
831
/
2 901
/
2
Rio Or West let g 45 19 .2 J
72 May'08
75
• Nage and col trust 48A 1949 A.0 72% 70
86
97 Jan'02
g a1917 A-0
Utah Cent
Des M ot & 111 D Nes 31 & St L
110 Sep '04
De8 Moi Cu By 1st g 55-1917 51-N
*
1)2 Mar'07
Bet & Mack 1st lien g 45 1995 J-D •
......
86
85 Apr'08
1995 J
85
Gold 45
80
Detroit Southern78
77;
Jan
'08
77; 7734
Ohio Sou Div 1st g 45 1941
1993
. 10914 5 102 101%
Dui & Iron Range 1st55 1937 A-0 108
/
2Mar'08
1081
193? A-0
Registered
/
2
1061
/
21061
1916 J-J
2t1 6s.
Du)Short Line Se. Nor Pao
108
.109
1077
Dal So Shore & AU g 55 1937 J-J 109
Vast of Minn .s.'ee St P Itt & At
Algust Ten Va & Ga See So ity
1061
/
2May'08
10614106½
Jot & East 1st g 55 1941 M-N 107
Elm Con & No Bee Leh& N Y
991
1947 M-N 96
/
2May'08
Erie 1st ext old 413
99 105
10416 Apr'08
1919 M-S 1041
26 ext gold 55
/
2
1011
/
210416
991
/
2
1923 M.
99 Mar'08
93% '1001
86 ext gold 4½s
/
2
104
1920
4th eat gold 513
104 May'08104 1061
/
2
1928 2-1) 9314
5th ext gold 45
93 Deo'07
1920 31-S 119
1st consol gold 7s
119 May'08
117 122
1920 51-S
120 Jan'08
1st consol g fund '75
120 12014
89
90
Erie 1st con g 48 prior 1996 J -J
90
90
90
8 82
90
1996 J -J
Registered
79 Jan'08
79
79
704 7034
70
let consol gen lieu g 46-1996 J-J
1 55
721
/
2
1996 J-J
Registered
8514 Feb'07.
1951 F-A
Penn cell tr g 48
93
84
8438 10 6734 843
1953 A-0 61 Salt 60
50-year cony 48 A
6176 122 43
617
051
/
2 547
Series 13 1953 A-0 55
. 5534 96 40
do '
56
118 Jan '08 .
Butt NY 80 Erie let 76-1916 -1)
118 118
Buff& S W gold 13s
10414 Feb'06
1008 J-4
• Chic & Erlelst gold 58 1982
110 112 110
110„
1 10814 112
Clev 80 Mahon Val g65 11)3
1031
/
2
1161
/
2Jan'05
Jell RR 1st gu g 55.....a1009 A-0 981
/
2
9814 Apr'08
9814 981
/
2
Long DOCK cense'g 135 1935 A-0 122
124 Feb'08
121 124
Coal& 1111.-.1st cur gu 65 1922 M-N
118 Sep'06
Dock & Imp let cur 68 1913 .1•J
106 Mar'08.
106 106
N71&GreenLgugSsiO4O M-N
100 Feb'08.
100 100
..
,
BOND
N. Y. STOCK EXCHANGE
Krim( ENDING MAY 29
"••••
Pr/ce
1,)-idau
- Nay 29
1329
:Yee k's
Itan•pg
since
Range or Ce
January 2
Last Sate :
-1
Hid
Ask Low
11 igh No Low lligh
Erio-(Con)
103 Dee'07
bus & W 1st ref 55 1937 J-J
10014 Dec'1M
2d gold 4128
1937 F-A
90
90 May'08
General gold 5s
/
2
90 941
1940 F-A
*110
110 Jan'08
110 110
Terminal 1st gold 55 1943
Regis $5,000 each.. 1943 M-N
' Mid RR of N J 1st g 66 1910 A-0 10-2 •
102
102
6 101 102%
1)5 70014 100 May'08
Wilk & Es let gn g5e 1942
11)0 101
Ey & Ind lat COM tru g 65 19213 J -J
' 10934 110 Mar'08
110 110
Erie & Pitta See Penn Co
112 Jan'OS
Evans & R 1st cons 65 1921
107
112 112
102
102
let general gold 58
5 96 102 /
2
194'2 A-0 1021
114 A pr'05
Mt Vernon 1st gold 66 1923 A-0
10614 Feb'06
Suil Co Branch let g 55 1931 A-0
'argo& So See Chlit5 St 1
:lint& Pere 31 See Pere Mar
Fla C& Penni See Sea Air Line
Fort St U D Co 1st g 4/
105 Mar'9s
1
23.1941 J-3
Ft W& Den C let g 641.-19'21 J-D 109
110 May'08
104 110
81 W ,it Rio Or 1st g 46
85 May'08
74 85
82 86
1928 J-J
4 al Har & A See So Pao Co
t)at Ii &Hof 1882 1st 55.1913 A-0
90 Dec'07
Georgia & Ala See Sea A Line
Ga Car CtG Nor See Sea A Line
Georgia Pacific See SoRy
Gila V 11.5 Nor See So Pat Co
Gouv & Oswegat See 1
,
2 V Cent
Grand Rap& Ind See Penn RE
Gray's Pt Term See St L S W
9133
.Sale 961
Lit Nor-C 13& Q con tr 4s 1921 • J
/
2 9914 214 9214 98/
1
2
Registered.h
9514 May'03 ...• 921
/
2 9034
1921 Q-J
Greenbrier fly See Cites & 0
93 Nov'07
Gntt&tlIlstref&tg5a 81952 J-J
f_j an & St Jo See C B (4
ousatonic See N YN 1{,§01-1
1031
/
2 1021
/
2 10314 10 081410314
Hock Val lat°ousel g41-0 1999 3.2
99 Oct '07
Registered
1999 ,1-2
9834 Nov'ut;
Cot & H V 1st ext g 45 1948 A-0
......
93 Doc'07
1955 F- A 95
Col & Tol latex 48
Roust E & W Tex See So Par
Roust& Tex Cen See So Pace°
102 May'08
102 1031
/
2
I Ilium Central 1st g 4s 1951 J-J 10234
10736 Apr'0't
1. Registered
10'1 J -J .100
9134 Mar'08
91% 91%
let gold 3/
1
25
1951 J-J
95143'13,116
Registered
1951 J-J
89 Nov'07
Extended lit g3/
1
2e
1951 A-0
70 uct'04
1st gold 3s sterling
1951 M-8
98 Apr'08
117 10141
Coll Trust gold 45
1952 A-0 08 IOU
98 Nlay'07
Registered
1952 A-0
9814101
L N 0& Tex gold 45 _1953 M-N ' 95 100 101 Apr'08
97 May'07
......
Registered
1953 M-N
10234 Jan '07
Cairo Bridge gold 4s
1960 J-D
/
2
85 Feb'08
85
LontsvDiv&Term g3128 1958 J-4 871
85
123 Alay'99
Middle Div reg bs
1921 F-A
......
781
/
2Apr'06
Omaha Div lat g 35
1951 F-A
80
St Louis Div&term g 38 1951 3.2
761
/
2 May'Ois
781
/
2 7614
Registered
1951 J-J
/
26
Gold 31
791
/
2 791
/
2 2 791
1951 J-J 86
/
2 87%
Registered
101is Oct'99
1951 J - J
Spring Div let g 3½s 1951 J
100 Nov'00
1011
Western Lines let g 4.s 1951 r-A
/
2 9714 Aug'07
Bellev & Car let (is
122 Dee'05
1923 2-1) 106
......
.
90 98
Carb & Shaw 1st g 46 1932 M97 Mar'07
1131
/
2
Ohio St L& N 0 g be 1951
106 Dee'07
......
--Registered
11934 Mar'04
1951 J-D
......
8814 Feb'07
Gold 3/
1
26
1951 J-D
Registered
1951 J-D
100 Mar'08
100 100
Memph Div 1st g 45 1951 J-D
97 Illar'07
St L•Sou let gu g 4a
1931 it-s 93
......
.
Intl B1& West SeeC C80 St L
95 95
961
/
2 95 Apr'08
Intl 11168 Ia 1st g 4s
1950• J
10314
May'08
105
Int& Great Nor lat g 65-1919 M-N
104
101. 109
/
2 82
80's
2d gold 56
891*,
70 901
.
1909 it-s 801
3d gold 45
60 Oct '0',
1921 M.S
1053
4
1051
6
Iowa Central 1st gold 55 1938 J-D
105¼
1091410814
Gold 48
.76
•
7534 15 70
753
1951 M-S 753
78
J ener8on RR See Erie
ValA.&GR See LSdbMS
1-V.an & Mich See 'l'ol .20 0
KOFtSdbM SeeStL.3381'
4
ICC&MR&B SeeStL&SF
Kan C & Pacific See M K 68'I
Kan City Son 1st gold 3.5-1950 A-0 70
71
70/
1
2 7018 1 69
71
Registered
1950 A-0
63 Oct'00
Kentucky Cent iSee L & N
Kook & Des Mo See C IL I&P
Knoxville & Ohio See So By
ake Erie & Wlat g 58 1937 J-J 10934
1091
/
2 Apr'08
1061
/
21101
/
2
/
2
21-.) 2d gold'55 •
101 Mar'08
1941 J J 1021
100 101
North Ohio 1st gu g 5a 1943 A-0 10514
1031
/
2 1051
/
2
105 1051
/
2
LSlio&MlchS Ses N Y Cent
Leh Val NY let gu g 41
/
23 1940 -2 105 106 105 Mar08
1021
/
2105
108 May'01
Registered
1940 3.2
Lehigh Val(Pa)cons 1;46 2003 M-N
9334 941
/
2 941
/
2
8?1
/
2 95
Leh V Ter Ry.lst gu g 55 1941 A-0 11314
108 Jan'08
108 108
Registered
1941 A-0
1091
/
2Oct '911
Leh V Coal Co lat gn g 56 1933 -• .I 1071
/
2
106 10734
10734 May'08
Leh & N Y lat guar g 45 1945 51-S 97 Sale 97
97
951
/
2 97
Registered
1946 M-S
El0& N let pf 66
'06
1914 A-0 102
113% Jan
Gold guar 56
1914 A-0 1011
/
2
1051
/
2Jan'06
Leh & Had It See Cent of N J
Leh & Wilkesb See Cent of NJ
Leroy & Caney Val See 510 P
Long Dock See Erie
Long lard-let con g 55 5,1931
110 112 11.034 May'08
105 11034
• 1st consol gold tis
51931
951
.
General gold 45
1938
911
/
2
/
2
1
2 921
la/
8314 9214
Ferry gold 41
/
28
91
1922
102 Nov'05
Gold 15
1932
991
/
2 Oct'06
Unified gold 48
1949
82 Jan'08
81- 82
Debenture gold 55
19:34
110 J'ne'04
Guar ref gold 45.
961.,
1949
931
/
2Sale 931
/
2 93'* 3 90
13klyn 80 Mont 1st g 68 1911
101
let 513
1913
99
9934 Sep '07
......
N YB852.1131steong551935
101
1101
/
2Nov'06
NY8sRBletg55
1927
105 Apr'07
..
Nor Sh B 1st con g gu5s01932
98
109 Nov'06
......
Louisiana & Ark let g 55.1927
PO
98 Apr'08
98 98
L
•
111184CELLANEOUrs BON 03-43ontinued on Next tinge.
(4iin and Electric Light
Gas and Electric Light
Atlanta 01. L Co 1st g 55-1947 -D
Lac Gas LotSt List g 55.81919 Q-F 102
101 May'08
99 102
hiklyiI U Gas 1st con g 55 1945 M-N 103 7
103 May'08
14214103
Ref and ext 1st g 5s
1934 A-0
102 Feb'07
Butialo Gas let g be
1947 A-0 5612, 58', BA May'08
Milwaukee Gas L 1st 45 1927 M-N • 84
54
601
/
2
911
/
2
Jan
'07
Cense( Gas cony deb 68
1909 J -J 126
127 104 103 1301
' 124
/
2 NYGELH&Pg 55 1948 -0
1001
/
2 15 88 102
102 100
Detroit City Gas g 5s
1923 J-J
97 May'08
97% 09
Purchase money g 4s 1949 F-A 81
931
/
2 97
/
2 23 75
82
8114 8011 811
Oct Gas Co con let g 55 1918 F -A • 06 ....... 100 Apr'07
......
Ed EL Ill let cony g 55 1910 M-8 1001
/
2
1001
4
Sal.
10014
1 981
/
21001
/
2 •
Ed El Ill Nan See K Co E Lc% P
1995 J-J 105 108 113 kg J'ne'06
let consol gold 5s
Edith OWN YG&E LH &P
NY&QE1L&P 1st con 081930 F-A
•
05 Apr'07
Et) U LN Y lat con g 55-11)32 PAno 105
96 Mar'08
90
NY 40 Rich Gas 1st g 55.1921 M-N
913
103 Nov'05
Liam& Elee Berg Coo g 55.1949 J-D
611
/
2Oct '01
Pat & Pas G & E con g 5s.1949 M-8
104 4 Nov'05
/
26 194'2 F-A
Gen Electric deb g 31
79 Apr'08
79
Peo Gas & 0 let con g 68 1943 A-0 112
79
80
1121
/
2 112 16 2 1071
/
2
/
21121
1917
10-yr g deb 56
J-D 120
120
12114 32 1061:122
Refunding gold 56 •
1947 51-S 1027
1001
/
2Apr'0- -.1
.
.
94 1001
Gr Rap L Co let g 56 1915 F-A
10734 Dec'00
ChG-L& Cke lstgu g 58 1937 J.J 103%
103
L0314 1-o 98 104
Hudson Co Gas 1st g 55 1949 M-N 9934
Apr
'08
1011
/
2
10114101¼
Con G Co of Ch lat gu g 56.'38 J-D 101
95 Apr'08
95
95
Kim City(Mo)G8.8 let g 5s1922 A-0• 90
99' Dec'06
Ain Fnel Gas lat gu g 55.1947 M-N
99 Feb'08
114414
92 10t)
Kings Co El L & P g 55-1937 A-0 96
Syracuse Lighting let g-513.'51 .1-1) 95
Purehase money(35
£997 A-0 1981
/
2112 108
108
1 103 108
Trenton G & El 1st g 55 1949 M110 51av'05
Ed El 11 Bkn letcon g4s 1939 -3 87 8814 83 Mar'08
8:3
83
Westchester Light'g g 55 1950 J-0
/
2 Feb'07
102 1011
•Au price Friday;latest bid and asked thia week.a Due Jan b Du. web 8 Due Apr sDae Airy ii Due J 'is' k Due Aug o Due dot
q Due Doe /Option Sala
1330
New -York Bond
BOND:.
N. Y.STOCK EXCHANGE
•Wkitx ENDTNR MAY 29
z.Price
Priam,
May ?P
•74.••
Fox.. Lxxxvz.
ROCOrd--Continued-Page 3
Week•s
"4 4
Sanyo
image Or
Lads' sate
January 1
4
BO
484 1,,rlo
iliaA No Low Iiiqn
1143 May'08
112 8 117
Louisv & Nashy gen g 611.1930 J.11 116
/
4
110 Oct'07
.1937 M-N 1101
Gold 56
081
/
2 99
981
/
2 99
11440 J -J
16 9S
Unified gold 48
1011
/
2Ply700
194(1 J.J
Registered
107 Deo'05
1910 A-0
Sink tund gold es
102
1931 M-N 101
102
) 192 105
Ooll trust gold 5s
93% 931
/
2 931
/
4 7 88
15-20-yr col tr deed g 98.1923 A-0 92
04
Ill Nov'07
E IT & Nash 1st g 68-.1919 J-D 11234
104 Mar'08
/
25....1.931 Al-N 10234
103% 104
Lena & Lox gold 41
930
4
-J
117
(38....
)
rout
113%
Jan
'09
115% 117
N 0& M lst
1934) 44
12214 Mar'08
......
N 0& M 2d gold Ge
10714 Aug'06
Pensacola DIY gold es...1920 M.S
May'07
108
I.17
M-13
1921
es
St L DIY 181 gold
6212 Aug'07
1980 M-5
20 gold 3s
881
/
2 88
88
1 86
.Ati Knox & Cin div 48..11455 M-N 88
89',
.
110 J'ly'06
Au Knox & Nor 1st g f,s1946 J -o 103
1081
/
2Jan '06
Hender Bdge 1st a f g 66.1931 M-S
93.8
03.• 4 88
Kentucky Cent gold 48-1987 J -J •• 93% Sale
VS%
108 Ply'06
/
261945 11-8 95
L&N &di& AI lat g41
/
2 87 Jan'08
80
821
L & N-South 3.1 Joint 45.1952 J -J
87
87
1131
/
2Mar'07
N Fla & 8 1st gn g 5s...1937 F-A 108
N31,C Pkige gen gu g412s 1945 T J
113 Jan'08
Pens & Atl 1st gu g 66..1921 F-A 102
113 113
111 May'u7
8 & N Ala con gu g 5s..1936 F-A 102%
11.11
/
2Jan'Oj
T.,& Jett ittige Co gu g 43..1045 M-S
911
; 91',
L.3( A& Ch See 0 I & L
Nil ahon Coal tied 1,S & M S
964 31 92
0-1.anhattan Ry conso146.191)0 A-0 9018 Sale 95%
08
164 Apc05
1900 A-()
Registered
Metropol El 181 ft 6e....11)08 J -J 1.02; Salt 1142% 101.4
4 99% 102.4
htleK'pt & BY See N Y Cent
Metropolitan El See Man By
31ek Cent eoutiol gold 46-1911 J-J
86
'
4 Sal' 84
85
'
4 561 7414 P534
/
2 174 14 141
1(312 Sal., (61
181 oonsol income g 38.a1931) J'ly
/
2 301s
161
/
2 lb%
10
16; 31 10
2d conaol income g 3s..a1930 J'iy
18 is
00.8J'11"01
81
&lex rnternatl8t coil g 48.1977 14.5
.....
80 Feb'08
Stamped guaranteed....1977 M-8
80
80
105 bley'Ut)ID
Mei North 1st gold 68.....1010 J MINI Cent See N Y Cent
Mid of N J See Erie
Mil L8& W kiee Chic & N W
Mil & North See ell IA & St P
minn iro st J, lot gold 78..1927 4-I)1281/2130 128 Apr'08
1251412$
/
210578 14)3 Mar'08
1909 J-1) 1011
Iowa Ex 1st gold 7s
103 103
118 Jan'07
.seitic) Ex lat gold 68 1921 A-0
South West Ex 1st g 73.1910 J-D . •.,
11)1.4l
ay
r:10
)5
1934 m..ry 109
r)
1st oonaol gold 58
100 •101
80
80 Mar'08
1st and rotund gold 46_1999 M-S
"0
82
97 Apr'06
Des AI & Ft 1) 1st gu 4s...'35 J-J
KUM at, St 1.gu Seel)C R& N
97 May'08 .... 97
31StP&SS Mcong 4intgu'38 J-J
961
/
2
97
99 102 J'ne'07
MSS31(9,Alstg 4intgu 1996 J-J
Minn Un See St P M cfs31
981
/
2 98
98¼ 105 94
?do Kan & Tex 1st g 48...1990 J-D 07
99
83
2 771
/
2 84
91990 F.A
83
84
83
20 gold 4s
/
2 101
8 95 101
1st eat gold 58
1944 M-N 101. Sale 1001
2004 m.s
74.11
/
2Salt 75.4
704 22 7474 78
1st& refund 48
8l- 22 71
811
, 801
/
2
Gen s f 4',s
1936 J -J
82
801
/
2 May'(' 83
St L Div 1st ref g 48....2001 A-0
83
Dal So Wa 1st gu g Os...1940 M-N 100 14)9 [02',,spr'08 .... 10214102',
87
89% 87 Apr'tizi .... 87
.Kan C & Pao 1st g 48_1990 F- A
107
.i07
1 105%107
bio K & h. lst gu g bs...1942 A-0 107
/
2 104 May'US
Iii K & Ok 1st gu 0s
1942 M.N 102; 1031
102 110.4
1022 14)21
/
2 ..3 971/264
K IC&T°VP1stgug561142 M-S 109s
105 Aug'07
J-0 102
g
SherSh&SoDtgu56.1993
104 103 31)408 .... 103 1.3
Tex& Okla lstgu gas...1943 16-5
/
2May'00 ...• 1991
/
2110
1Io Pacific 1st con g 66 _1990 M-N 107 109 1071
149
1 83
97
97
97 100
Trust gold 55 statnped.a1917 M-S
104/
1
2Feb'07 .•••
Registereda1917 13-S
95 100
96
96
1 8778 98
11120 F.A
1st(sod gold 5s
74)1
/
2 7214 399 63
1'45 M-8 71 '',IirlY
40-year gold loan 4s
761
/
2
1038 31-N •
3d 78 extd at 4%
"3
"
95
82
/
1
2
90
,
85
Mar"
FelPub :..-... U
Cent Br By lot ..; u g 43.1919 9-A
13?)
8414 Jan'08
90
831
/
2 8914
Cen Branch 'U P 1st g 48.11198 4-1) *
110 31ar'05
Leroy&CVALIstg58 1926 J-J
9914 Feb'08 •••• 994 99',
101
Pao 11 onto 1st ex g 46.19313 F-A
Dec
'07
112
26 extended gold 5s...1939 J-J
/
4 li.,
'
StL Ir 31& Sgen poll g 561931 A-0 10714 108.. 10738 1071
106
.;i.g 109
con stamp gt.41g5s1931 A-0
10$Gen
vi4
80
70
12 4:38
Unified & ref gold 48-1929 J.J
83%
83 sale 83
Riv & G Div lst g 4s..1933 PII-N
107
12
Apr'06
Verdi V I & W 1st g 58.1926 M•S
1414 Dec'08
Mob J & K C lst cone g 58.1953 J-J
Mob & Ohio new gold 66-1927 J-0 119
113 119
10
15
9)..,T
M
LY:
te.138
1134 extension gold 6s..h1927 Q-J 108
1051
/
2 1051
/
2
84% Feb'08
1938 M-s 80
General gold 48
841
/
2 84%
102,
2 May'08
Montgom Div 1st g 56-1947 F-A 105
102121021
/
2
75
82
DlaY'Ut)
St L do Cairo coll g 48..•1930 Q-F 79
75 " 75
101 Nor'04
Guaranteed g 48
1931 J-J
......
Di & 0 coil 46 &a Southern
Mohawk & Ma& See N Y C& 11
Monongahela Riv See B & 0
Mont Cent See St P M & INI
Morgan's La & T See 3P Co
Morris & Essex See Del L& W
11914 1141
/
2 3 11214114',
Al ash Chat& St1,1st 76.1913 J.J 1141
/
2
108'• 1081
1928 A-0 10818
-111st cense' gold 58
/
2 1 113341081
/
2
1161
/
2 May'0/
Jasper Branoh lst gas-192:3 J -J
Mar'05
1171
/
2
13031. At W So Al 1st 6s..1917 J -J
113 J'Iy'4.)4
'2 & P Branch 1st 0s.1911 J-J
Nash Fiord, Shot See L So N.
100 Apr109
991
/
2
Natof Mex prior lieu 41
/
2s.1926 J-J
/
2
99 1001
8112 May'08
1st consol 4s
1951 A-0 791
/
2 81
77
82
New R&D SeeNYNH&B.
N J June RR Nee .N Y Cent
Mew & Cin Bdge SeeLou&N
N Y 13kIn & Man Bch See I, I
NY Cent& II Riv g 31
/
28.1997 J -J
90% Oats 90
91 136 874 91
Registered
891,i Mar08
/
1
2 89%
1097 -J38
J
921
/
2
Deben g 4s
91% 95
93's 8 01
1934 M-N
93
Lake Shore coil g 31
7978 Sale 7978
all, 6 75
/
2a-11)98 F-A
82
Registered
1998 F-A
801
/
2 22 73
804
801
/
2 80
Mich Cent coil g 31
/
28.-1998 F-A 73
/
2 81
7914 -78 33far08 .... 741
Registered
1998 F-A
76 Apr'09 . 76
76
Beech Creek lst gu g 48.1936 J-J
96%
102 Feb'07
Registered
1936 J-J
102 Mar'04
26 gu gold 58
1936 J-J 102
Beech Cr Ext 151s 3',s 51951 A-0
IOU
12
-.a
BONDS
:4.2
N. Y. STOCK EXCHANGE •••••• ,14
Wxxg Exuma MAT 29
•17).••
Price
loridav
•Vaq 2'9
Week's
Range or
Last Sate
Range
since
January 1 .
High
Low „tityis
Bid
431, Low
N I Cent & H 11--(Cont4ntusa;
Cart it, Ad lot gu g 46...1981 J-0
tioity & Osw1)lstgu g 56 1942 J-1)
m ,.h. di Mid 1st gu g 4s1991 31•S 09
148.. 48
98 Mar'08
\ 1 June 31 gu 1st 48. 1936 F-A
103 Oct'02
N Y )9, Harlem g 31
/
28-2000 M-N 851
/
2.
- 101,
4 J.13*'0,3
N I'& North 1st g 5s. 1927 A-0 100
1104 3181'01
N Y So Pn 1st oon gu g 48 1993 A-0 96 100 10114 Dee'06
Nor & Mont 1st gu g 53.1916 A.0
1/1118 Creek reg guar 68.1932 14) 116
107 Nov'07
/
2
.11 W&Oeonlstext5e.41.922 A-0 110% Sale 110% 1104 36, 108781i11
Os-we & R 2d gu g 58_01915 F-A
105 105
105 Jan '09
it W&OTElst gug 541.1918 M-N
it.-ntland 1st con g 44,8..1941 J •I
10618Oct '05
OgioLChani 1st gu 48 g1948 4.1
8434 87
871
/
2 87 Feb'OS
86
itiit-Canad 1st gm g 46.1949 1-1
85
85 Jan 'O'
/
2'
St LAW & Adir 1st g 58.1996 J"-J 1091
122 Jan '06
211 gold (Is
1996 A-0
..125
125 Feb'08
Utica & Blk Rivgug4s.1922 J • J 100
014% Apr'O)
9954 09%.
Lake Shore gold 31
113
133
84)% 91
/
25. 1997 J-1) 9214
Registered
921
1.21
/
2
/
2Ilay'll&
1997 .1-1) 87%
90
931
/
2
931
/
2
931
/
2
921
2
Debenture g 48
1
2
8878 95/
1928 11-S
?.5.year g 4s.......
1931 M-N 02
/
2
142', 91 88
,
8 041
92', 91%
KaA& Li R lstguo-56 1938 J -J 11014
,
105
Mahon CI RR 1st 55 1934 J -J
109 Oct'07
..
Pitts & L Erie 241 g 5s.a1928 A-0 104
100
100 - 15 100 100
Pitts MoK & Y 1st gn 68 1932 J-J 120
130 Jan'031
2)1 guar ea
1939 J-J 115
31eKees& B V list g Os 1918 J-J 195
Mich Cent let consul 66 1909 13-9
104 1)00'06
5
105 Dec'071
1031 M.S 10838
•
Registk)red
119 J'ne'0411
1931 Q-M
92
lo()% Jan '071
48
1940 J-J
Itegiatered
111)11
/
2 Ner'01)
1940 J -J
' 94 )-2 Dye '0)1
/
25
1051 M-S
jI,& S ist g 31
,
1
28
1952 M-N 86
88 ,1pr'18
1.6t g 3/
88
88
Bat0& Sturlst gn g 38 1989 J-D
101 101
101
4 95%14)1
N 1.' 011ie& -3t List g 4s 1937 A-0 *
ltegietered
1937 A -0
100 102% M:1007
.
West Shore 1st 4s gu 2301 J -J 103
102.4 103
2 98 103
Registered.
2361 J -J
idii; 101 lui it;
961
/
2102
T 'V 64 Ureeuiv Lake See Erie
g Y & liar See .N T C & Rini
g Y Lack & W See D L & W
1: L F. & W See Erie
s y & Long Br see Cent(6 NJ
1267
,102 11514197',
); Y N H it, 11-Cony Os subs. . *126% Sale 123
871
/
2Sale 87
1156 j...J
Cony debm 346.
871
/
2
87
8814
11011BNLOIlic R con g 58 1037 M.N 112%
112 Mar'08
112 112
N ii 86 Derby eon cy 58 1918 M-N 10234
N l & North SeeN Y eits II
12 961
96
/
2 97
20 921
g V 0 & W r(6 lot g 48.4/1992 13-S•96
/
2 98
Regis 85,000 only
g1992 31- S `
90 101/
1
2J•n41•06
N Y & Put See N Ye& H
S' Y & R li See Long Island
g Y 8 ,Na W See Erie
g Y Tex eto 31 h'e. 8o Pac Co
1941 M-N
101 100 Oct '07
or & South 1st g 5s
1981 MN 118
Nor!& West gen g es
12018Jan'08
120 120.14
Improretn't & ex t g 66 1034 F-A 19u
117 4,Jan'08
11714117',
New River let g 68.-1932 A-0 118
127 Oct'08
;sr & W Ry 1st con g-48 1996 A-0 941
/
2Sate 9414
31
9214 971
/
2
0434
Registered
1996 A-0
..
91 Sep'07
89
Div'l 1st IA: gun g96.. 1044 J - J
*9 May'08
8414 90
10.21 year cony 48
1032 4-1) 80 Sale 853
87
861
/
2 -fig 78
Pooah (; & C joint 48 1941 J-D 851
/
2 86
8016
2 77
866
.
88
1922 4-4 1002
00& T let gu g 58
10012 F4311
'
01
Selo Y & N E 18t gu g 48 1989 31.-N
93% Sale 93%
93% 1 .871495
'forth lihnola See Chi & N. W
.
!;ortli Ohio See L Erie do W
)(or Pac-Prior lien g 48 1997 Q J 101'2 Sale 101.8 10134 41 09 101%
Registered
1097 Q-J 10)) 101
11734 1110%
4)9', May'08
General lien gold 38....a2047 Q-F 711
/
2sale 70%
73
71% 55 418
Registered
a2047 (4-F '''
70
6814 Apr'09
081
/
2 90
St Paul-Dal Div g 4s. .1996 J -D
9016
0612 Jan'08
80
Dui Short L bat gu 58..1910 11•S
••
C 13& 4.1 coil tr 48 See Gt Nor
Ile 117
St 1.& .N P gen g 45(4. .1923 F-A 11758
116 Mar 1)8
Registered cert1tio'8..1923 Q-F 117
10 116
116 3lay'4118
St Paul & Dul lst 58.-1931 F-A 105
11714 J'ly '07
24l 55
11117 A-0
102 102
102 May'u8
let consol gold 4s
1968 J -D
081
/
2 Oct '4)6
......
Wash Cent lot g 4s
1948(-M 81
143 May'06
112 116
Tor Pao Ter Co 1st g (ls 1933 J -J 11334
119 May'US
!Tor Ry Cal Bee So Pac
);Or Wis See C St P M & 0
!Tor & Mont See N Y Cent
..
......
......
......
......
ivNY11115eL•
C?
Ia7::118
[)1ilin
odRal
(
)
1L
)re & Cal tie. SePao Co
)re Short Line See On Pao
)swego & Home See N Y C•
)CF&StP Seee& NW
ac C,oast Co 1st g 56-.1946 4-1)
ac of Missouri See Sio Pao
?elm ER 1st real eat g48 1923 M-N
Consol gold 58
1919 31-S
Consoi gold 48
1943 40-N
Consol gold 48 (w 4- 1998 M N
Convertible g 31
/
28
1912 31-N
Convertible g 3128
1915 .1.1)
Alieg Val gen gu g 48 1942 M.S
D It AR& Bge 1st gu 4sg.'36 F-A
Plata Bal & W 1st g 48_1943 m.ry
Sod Bay & So 1st g 56 1929 4-4
U 11I J RR & Can gen 48 1994 M•S
L'enn Co-Guar lst g 4123 1921 1-4
Registered
1921 J-J
1
28 coil trust reg 1937 11-S
Guar 3/
Oust 3100011 tr 8er B. 11)41 F-A
cortirs
gu
g
3
/
1
2
8
1016 NI-N
Tr Co
Ou 348 tr ctts C
1949 3-0
/
26 tr ctis D
1944 4-0
O.- 31
Guar 15-25 year g 48
1931 A-0
/
20-1935 M-N
CI 31 3far lst gu g 41
/
28ser A '42 4-4
old,P gen gU g 41
Series B
1942 A-0
Bolles 08148
1948 11•N
Series D3148
1950 F-A
P
10514107', 106.4
/
210634
10634 16 1011
102% -----105 Jan '08
107
105 Noy'01
104)
101 Dec'07
100% Sale 1003 14)1', 970
0434 9514 09; 95 ' 35
03 Sale 03
9334 11U
95
91) J'ne'u7
10714 Oct '06
10.4 Jan '03
/
2 pep '(4 4
1101
1011
/
2 '
105
MaY'Ob
10414103',
104 103
'
t, J '1,y'07
834
/
2J'ne'06
94)1
May'09
861
Fdls,
/
2
991
/
2 ------9214 100'4)8
85%
8414 Feb'08
831
/
2
90', Mar'06
94
/
2 Apr'08
911
97
110 Jail '415
10(3
10814 Aug'03
10434
081
/
2 Dec'05
8714
8714
90 Mai 08
102 103
......
100 101%
91% 9612
88
93%
......
8(11
/
2
02',
8914 84%
80 14
(4'4'a
.90..
•
00
MISCELL 4.111E0US BONDS-Continued on Next Page
Coal and Iron
Tele graph anti Telephone
Col 7,& 1 Cogan s f g 56..1943 F•A
82% May 03 .
791
/
2 83
Am Telep & Tel coil tr 95 1029 J-j 88
80/
1
2
86'14
• 751
/
2 8614
Convertible deb g 5s....1911 F- A
65 Mar'08.
543
63
Conlin Cable Co 1st g 48..2397 4- J
8534 Mar'08 ..• so.), 8614
Col Fuel Co gen gold 68.1910 M-N
1071
/
2Oct'04
Met T & T 1st 8 f g 56
1918 ht-N
104 Feb'0,.. .
Or Itiv Coal & C lot g 631910 A-0
Telep.
102% Apr'06.
State
1st
5s
Mi ch.
1929 F-A
92'- Feb'08 . -i; -1)
.
4 •iii;
-1
Meant Bit Coal 1st s t 4s...1940 J -J
N y s, N J Tel gen g 513-1920 tel-N
95 Apr'02
106 ts-I'ly'08 .... ..... ...
Col Indtt 1st& coil 5s gu..1934 F-A • 30
61
61
32% 105 38.4 63
West' Union ool tr cur 56.1938 J -J
85 May'08 .. . 8-4
85
87
9-4
Contin'talC lstsf gu3s g.1952 F-A
eat
10734 Dec'04
real
g4',&1950 M•N
Fd and
............
84 Sale 831
/
2 85% 1.4 St
RA
Jett & Clear Car 1 1st g 56.1926 4-1)
107 May'97 .... ............
Couv 95, Series A
1936 M N
791
/
2
SO
81
7 75
81
Kan& He & C1at 8 tg58.1951 J-J
1051
/
2 Dee
'06MutUn Tel 8 fund 6s. 11.111 SI-N
100 104 Apr'07
.
Pleas Val Coal 1st g s I 56.1928 J-J
103 Oct '01)
110mulneturIng (S: 1min/orbit
Sunday Creek Co g 56-.1994 J -J
80 .78 reb'07 .... ....
Tenn Coat gen 58
1951 J.J
9734 Sale i97
9734 2 8f212 9734 Am Cot Oil ext 41
/
28
1915 Q-F
92
924 9212 (12', 12 96
93
Tenn lilv lot g 68
441917 A-0 106 108 10534 May.08 .... 100 106% Am Hide & L 1st at g 66-1919 31-8
82
85
82 May'08 .... 751
/
2 82
Birm Div 18t 00E1801 68..1917 J•J 1074,109 107 M4y'08 .... 99 107
Amer Ice Secur deb g 06 1915 A-0 701
/
2 Sale 6778
/
2 70
701
/
2 2 581
Cah CM Co 1st gu Ir 68.1922 J-13 106 108 102 Apt-'0)3 .. 102 103
Am Spirits Mfg 1st g 66 1915 M-S
97 Mar'08 ..... 91 100
De Bar C & I Co am g 6)4.1910 F-A •101
101
101
ii 100 101 Am Thread 114 col tr 48. 1919 J•J 86', 100 86
AI ey'03 .. . 1313
86
Va Iron Coal &Coist to 5.4 1949 M•13
87
86
87
8 80
881
1944 A-0 105', Sale 105
/
2 Am Tobacco 40.yr g 6
10534 Pit 96% 106
Vlotor Fuel islet 58
1953 4-1
1134 Feb'07
48.
1951 F- A
714 sale 711
/
2 72
/
2
72
92 601
y; e8
a as
a us an 3),3 •Dtteliar di Due ..kise
Das J'kg is Deis .‘ed • Dag Oe4 p Due Noy g Dnellee •Otilles Nob
••
.11, _-_ _
.....•
•
.
.
-
-
New York Bond Record-Concluded- Page 4
MAY 30 1908.1
BON Us
N. Y.STOCK EXC'FIA NOE
Waicit ENDIsti MAY 29
1331
Week's
ROADS
25 Range I
Prig*
Week's
Rano;
Since
Range or e e
N. Y..STOCK EXCH A No F.
Przein
Range or an
Binee
Laet Sate ..1 z
' Jagnary 2
May
15?
Lain Mate
Ja.sttarsy
Wtts ENDING; MAT 29
'"
Ria
Aye bole 'nom Xe Low High --Penn Co-(Cantimidel)
Ilia
Asir Lazo
r3onthesr.ii Pao Co-(Carittnnesi
BOA No Low 'I104
87/
1
2
92 Apt'07
Erie & Pit,tagug3Lsa B.1940 J-J
afl
ot
at
127 Sep '013
gan
e
'
ladLa
tis_
dbT let 73.191S A 0 1.13
9834 Apr'04
8738
Series e
1940 J• J
t
1920 J -J 1:2 ...... 116 Nov'00
7% Sep'08
10
28
Or Rcii rex lat gu 844811441 J.J 1011/4
No et(X1 guar g 5s
112 Felon:
1
Pitts Ft W & 1st 7s 1912 3.3
Ore & Cal1st guar g 5s.itj2'7 1:13 102 103 102 Apet; ... 102 1o24.3
119 Jite'lltt
1912 J-4
2d 7a
.
.
Sole
1
4
Pter
103 Mari/S.;.. 984103
fuer
Argg
stg6s...e.1909 J4 102/
uti
la
119
Apr914
•1110(1)919)161/4
41912
A-0
3d Is
101 Dee'07.
/
4
...e1910 5-3 1011
110 May'05
Pitts X& ;Leftist con 6a.1917 14•93 104
tio Pacific of CaA410614108
Pee& St Lgu4443A...14.1443 A-0 10734 Sale 107% 10734
1041
/
1st g Elaseriea EA: F...1912 A-35 103
4 Mar'05 .... 10412 1041
/
4
1071
/
4
108
Feb'/8
A-0
1942
1 OS 108
Series B guar
let gold Os
1144 Dec
1512 Am /01 4
1121/4.1'ne'05
/942 Ill-N 1011/4
Series C guar
1101
/
4
116 Mav937 • ••• ...•
.
96
100% Mar'07
19452U-N
Series D 48 guar
8 ??eateMiTn.
104 Apr'US
104 104
r
1
3.
1-13
4 1u4
911
/
4 03
91 May'0890 91
F-A
Series E 31
/
4 guar
Se IinoCoast lest im is c.1937 J-J
1953 j-D 90
Series P 48 gnat
105 1074 Feb'07
Tex&NOSab Div let gthi.1912 11-S
112 May'08
C St L & P let eon g 58 1932 A-0 112.
109 112
Con gold be
9814 Apr'08 ..._ 954 984
1043 J -J
Pensacola & AU Soo I.& Nash
'o Par It It lst ref 4345a..9
911
/
4 Sale 911
921
/
4
/
4 2it.. a74 1434
1955 J•.7
-3
Poo & East See C
& St L
104)
100
1441
seuthern-let con g
37 831
/
4 1t.:i
1
J
1921 Q.F 103
1231
/
43an '043
Pen A Pek Un let g 6s
114 Nov'OG
Regnitered
1004
951
/
51921
4
U-N
2. gold 443
Dee'0
,
.2,
75
Develop & gen 4s Ser A.1956
75
741
/
4
7-5
75
A:0
68 1921 •J -19
109 Apr'02
Pere Mara-eltdb
alob
Mei'
8
82
de
,
ts3
Ohio
75
81
coil tr g 4...11/88 14.8
1124 Aug'07
Flint & PM g Os-. .....1920 A-0 105
_ „ 99 Apr'08
Mom Div Ist g 44.5s....1990 J -J
10112
96
consol gold fis
100
1939 M-N
4 Apr'07
St Louis
82
82
821
/
4 a
7 99
let g 46.-1951 J -J
8.1
1004 May'08
Pt Huron Div let g 58 1939 A-0 1001/4
iikiI; 100% Ala Cen Rdmlet
113 Jan '06
g tis
19183-3
sag Tus & Li lat
g 40 1931 F-A
.
AU 3b Deity let g 4s
9E1 Pue'00
1948 J -J
['MAR & W See Penn Bit
92 J'ne'06
1948 J -J
91446)& Reading cons 734.1911 J.D
1154 Ntat'06
.
.
....
A2
t111
:Yad let g guar 48.1949 A-0
Philippine By 1t30-yr sf48'37 -J
064 A•pr'08 2
97
- : 901
/
4 961
100
9%13'07
/
4
eel & Greeav let Sc
111
1910
3.3
Peon
i'.its cin & 8t L See
e
110% Xly'0,
Va to Oa Inv g541 193 J - J 1001
/
4
eitte °Imre& Tol See 15 &0
Con let gold 5t
/
4 Sale 1051
102 1044
/
4 -108
1956 31-f* 1051
Pitts Ft W & Oh See Pena Cu
E Ten reor lieu g bs
93 May'W.•
97
99
1938 M-S
P1tts 5toKeea & Y iSsoN Years
On Midland 13t 3s
('8
85 Sep '07
191 A•0
Pitts Sh & L E lat g 5s 1940 A-0 1091
/
4
1091
/
4 Feb'OIL
109
10914 1094
tin Pac ily let rr tss
AI,
14.Salo 1091
/
4 1
'2 1.96 1094
1922 J -J
1st eonesol gold 5s
1943 J.J
Knox & Ohio lat g 68-1925 3-3 198
108 Jan'08
107 108
Pitte & West See 11 &0
slob S. Air prior lien g 5s 1045 J - J
rob Apr'00
acting No gen g 4s
1997 3-3
984 Sale 08,
4
418
99% 07 93
9%; iost'05
NI origage gold 48
su
1845 J-J
kliliegistered.
De
,
1997 3-3
941
/
4
931
/
4 Apr'08
90
95/
1
4
Rich & Dan eon g 0s. .1915 .1-3 1054
103
103 .1U'i
Jersey Cent NM g
1951 A
931
/
4 'J5
93%
9334 2 e) 941
/
4
994 oet '07
.Geb 58 staniped
..1927 A-0 112
Rennet:ter & Sat See
40..
D & Ii
148
Rich & Meek 1st g 44-1948 M-N
Rich & Dan See South lty
98
97.8 Apt"()
So Ow & Oa 1st g 5s.....1919 M-N
93/
1
4 97%
Rich & Meek Nee Southern
112 Get'06
Virginia Mid ser C 64.-1916 M-N 104
Rio blr West See Den & Rio Or
99
108'-' Dee'00
Series D 4-5s
1921 M-S
Brash & Pitts See II 11&P
ik)
11:1 Dee'05
Series E5ti
1920 M.S
Rome Wet & Og See N Y Cent
10218 1021
General be
/
4
1.9346 M-N
101 4;103
Rutland Nee N Y Cent
4ittar stamped
19314 M-N 102 101 107
.
:ag'Pus & H See Pero Marq
8..
001
/
4
J a II '07
W
0
ci6
W
lett
cy
gu
45
191:4
F-A
L'.1.tJo de Lir 1st lst g 443.-194. J.3
81¼.
83 May'08
1u4
1051
/
4
sep
'07
2
West
8-5
N C lat eon g 04_11314 J • 3
St L 41 Cairo See Mob & Ohio
ri & N Aiii bee L & N
St L& Iron Mount see
117 J'ly 930
spok Palle de Nor Dit g 64.1939 J -J
St L K & N See Wannall
106
105
'1'er
A. of tit L 1st g 41-0-1030 A-0 103
1 102 195
St i.. M Br See T RR AM St L
1. 1st con gold 56.-189A-1944 F-A 10'J
110% Feb'08
10934 111
St Louis & San Francisco*
114
May'08
931
/
4
Gen
refund
a
I
g
4s
1033
3.3
3.10', 934
General gold Os
115 128 1141
19:31/
4Apr'08 ... 113 114%
100
111 Deo'06
St L 32. Bge Ter gu g 541 1930 A-0
General gold be
1031 J. 107 108 107
ItY7
7 103 1071
/
4
'Peg
&
N
0
See
So
Paco
C
S
L&
1113
St
tons g 4s-'95 J -J
110 jars'08 _
90
90
Tex & Pao let gold bs......'2000 J -D
111 1104 110% 4 99 1121s
Southw Div let g 5s 1947 A-0 95
100
100
2 100 100
24 gold in.55
92 Nov'06
90
1,2000 liar
Refunding g 4s
1951 j
724 Sale 7214
73% 136 674 75
110 liars06
La Div 11 L 1st g 543
1931
J
•
J
......
5-year gold notes 44 190R J.D
98 NovIM .... ......
1004 ov'04
W Min Wdb N Wlstgn 56'30 F.A
StL & So East gu 44g11109
Tut & t.) C let g bs
1021
/
4 Feb 08
1936 J -J 105
102 1033
;
BC ft S& 51 con g Os.J92.43-N 115
113 Alai"09
111 114'.,
Western Div 1st g ba...1.935 A-0 102
111 May'04
X0FLA&
/
4 73
Ry ref 44/J11136 A-0 721
721
/
4
73
0 64
40 74%
eeral gold 5:4
Gn
971
/
4 May'08
1033 3-D 1094
.
98
X C& M R& 1st Ku 58.1929 A.c)
Kau 4S3 5/ let gu g 4a
89
89 Jan '08
1990 A-0 80
84
89
Oe'rk&Ch elst gu 50 g.1913 A-0
1/4
90 Dee'07
......
Tot P & W let gold 434....11117 3-3
824 Sale 824
8214
1 76% 83
-St Lotus So See 11liuo1 Cent
Tol St1.& W pr lien gi48.1923 3-3
84
ea
81
C 80
87
-St L S W let g 4s lid otts.139814 3I-N
98'2 Sale 884
89
844 90
50-year gold 4s
73
734 73
7342 11 67
731
/
4
2d g 4s Me bond Mts._ p1989 3.3
72
70 May'08
65
70
Tor llama Bull lat g 4/halal:'
05 ne.o'04
)
.1 1)
(iermet gold 4a
1932 .1.1) 68 Sale 671
/
4 081
/
4 48 50
624 i lister& Del 1st conar.5a 1928 3-1) 105
105 Apr 08
104 105
Gray'sPtTer'tang be 1947 J
101/
1
4Apr'07
......
kJ 1st refund g 4s.___19152 A-0
93 nap %le
It Paul & Dui See Nor Pacific
Un Pae RR & 1 gr g 4.43-1947 J - J 101.4 1011
14111
/
4 101
/
4 113.110.. RA.
"
It Paul hi db Man 25 6s 1909 A-0 10273103% 104
104
4 10214104½
Registered
99'4 Sale 991
/
4
904 3 98 1001
/
4
1933 3 -3 1284 Sale 1281
1st consul gold Us
/
4 128/
1
4 2 1201
/
4128%
20-yr eonv 48
904 Sale 9014
in% 632 83
.
3
,
j
•T
J
48.
t7
Z
1
9
1
:
3
914
Registered
1933j-J 128
134 Deo'043
Ore ay & Nay con g
97
5 91
40 D 97 9ait 97
971
/
41
11,
0
0)63
734 lost,. 109s, 107% 5 102 108
Reduced to gold 44s 1933 J -J 1
Ore Short Line bag 68-1922 F-A
121 121 May'08
115 122
Registered
1933 3•J
1104Apr'01
113 May'08
let
consul
53
114
g
19463-3
106
114%
Dakota ext gold as
1910 1444
1041
/
4 1041
/
4 6 1941
91%
/
4
Guar
Sale
914
refund
10:04
Ira
9'21
/
4
20
86,
2 93
Mont eat let gold 48.-1937 3-D 98% 991
/
4 09 Apr'08 .... 94
99
Registered
87"4 Mat'07
11143g
....
Registered
1937 j.
1004
1110 Oct '07
Utah & Nut 1st Ts
1008 3-3 103
E Minn Nor Div latg 441946 A-0 80 ......„ ...... Out '00. . .._
100%
Gold bs
101/
1
4.1'ly'07
Minn Union let g 08-.1922 j-J 110
124 May'043 .
U n 1 INI J RR 4 COO See Paligi 3 - 3
Monte 1st gu. g El
1937 J-J 130
1
1 30.4
4 ry:0
36,4 g
06
3 ..... 128 130
Utah Central See Rio Cr Wed
Registered •
1937 J
Utah le North See 'Un PR011it
1st guar gold-a
112Is
1937 J -J.
1111
/
4Apr'08 .... 111.2 111/
1
4 Utica A Black R Bee li 1: Cent
Will& S It' let gold 5s 1936 J-D 114,2
115,
2 Deal'Uli
.
• k: it sandhi coneol g 4s ....1955 FA
941
/
4 Oct '07
etP & Nor Pao See Nor Pao
/ era Cruz &Plat gu 4,
-01934 J - J
US Sep '00
Str & S'x City Nee(;:St Pli
Ver Val Ind & W A'ee Mu e
SA & A Paisalstgug.48 1943 J -J
85
86
854
857$ 3 78
Virginia Mid See South Ay
86
le Pres & Ph1etgbs 1942 34100 __, 102 Sop '07
/
4 Bale 10734 10714 2 99 110
..
Va & tiouthvr't 1st gu 5e.24.103 J -J 1071
8 X'& N P let sink I g 58 1919 J-J
111) out 'US
abash lat gold 546
19314 54-3 104 Sale 1031
/
4 I05
414 102 1013%
Say F& Weet See Atl Coast L
32
gold
2d
5s
Sala 92
02
13 841
/
4 Ud
Scioto Val aziN Ill See Nur& W
Debenture series.A
1939 J
F--A
1/0 J'ns'07
3
•Seaboard Air Line g 4e -1950 A-0 50
511
/
4 52
54
5 434 55
Series 13
551
/
4 Sake 54
651
/
4 121 37
56
Coil tr refund g 58
1911 M-N
843 34 Sate 8434
801
/
4 3 961
/
4
881
/
1
4
st
*
lien
924
equip
a
Id
g
102
5s
39
.
1
M-8
j-.1
921
9
Feb
'Oil .•. IOU 1014
AU-Birm 30-yrlet g 4s 441933 3188 .79.11'07
let ben 50 yr 4 term 48.1954 3-3
133 11ite011
Car Cent let con g 4s 1949 J •J
0434 31ar'00
1.t. ref and ext g 4s .....1956 5-3
-.
5344 Salt 52
5014 467 371
/
4 58%
Fla Con as Pen .1st g 54 191b J •J
1014 Aug'06
Det ..lb eh Ext let g 58_11141 -1-3 102
100 Apri094
1130 100
let hunt gr ext g 5s -1930 3.3
Dee Mein Div let g 441_1930 3-3
Nov'04
137
Cowan gold 58
1943 J -J
109/
1
4 Ilar'05
Um Div lat g 3108
80 lreb'07 ••85
d, Ala By lateen 5841940 5-3 06 100
151
/
4
95 La 2 92
964
'1'414s eit Div let g 4s .9
.104
41 M-O
A- S
U5
96% J'ne't)7
Ga Car a, No let gug ba 11129 J -J
974
110 Jan '05
8t Chaa Bridge let g 68.190s A-0
......
1.0o May'07
......
seal)& Boa 181 5s
1026 J -J
•
074
1041 Mar'4.37
Wab
Pitts
Term
let
g
40.1954
3D
45
etale
44
50 169 41 '50
Slit
de So See II K &'E
Sher
2ti gold 4is
9% Salt934
141
/
4 ion
8.4 19
611 sp Oca & bl See All Coast L
Warren
Nee Del Lao & West4
l95 j-1)
13o Car & lzVa See Southern
Wash Cent Nee Nor Pao
Southern Pacalto CoWaelt 0 & W Nee Southern
Gold 443(Cent Pao coil) k1949
8834 87%
87% 1
Wash
Terml let gu 3',s..11445 F-A
88
87le.rly'07
Registered
k1049 J-D
94 J'ne'07
West Maryland let g 4.3...19.11 AO
704 7i.
73
Si 49
Cent Pao let ref gu g 48 1949 11-A
79
9534 -.... 963
. U67
. li 91
Gen & cony g 4s
09
1053 A-0 381
/
4
40 May'08 .
t
Registered
30
47
1949
94
93% J'ne'07
WVa Cent & P 1st g 61; 1911 3•3
.
10614
Aug'06
I
Mort guar gold 34s..k1929 J
87
814 May'08
West
86
N
Y
80
&
Pa
let
g
58-1937
3-3
112
11414
1141
/
4
1141
/
4
Through St L 1st gu 43'54 A.0 93
13)814 1144
904 Nlity'08
/
Gen gold 13-4s
4
88
901
- 83% 337% Jan 'Ors
Oat Ear & A let g043-1910 F.A 101%
871
/
4 87%
11:31
/
4 Apr'07
Income 5s
41
1943 Nov
A34 b'sb'07
Ai ex ak• Pao 1st g 58._.1931 M-N 10212
14i( Jan '08
107 107
West No Car See South By
Gila V t3it N latgu gbs.1924 M-N 1001
/
4105 1011
/
4 1011
/
4
Wheerg de L E let g 5s.1920 A-0 102 105 102 May'08
lions it. & W T let, g 58.1933 M-N 111.34 105s. 101 Jan'08 1
100 107
100 1014
Wheel 1)1v let gutii 3s..102z1 .1 - J
103 Mar'0a
let guar 58 red
103 103
1933 M-N
104 A.ug'00
Erten & Imp gold 5d. .19;10 F -A
Ii &'VC 1st g 5s int gu-1937 3-3
984 Jan '438
9814
112
112
1
10041121
RR let coneol 4e.... ....1949 d-S
/
4
411
08
Consol g d3 int guar..1912 A-0 109
63
Salt
60
7412
'2
107% Nov'07
20-year equips f be .11;'-• J .1
Gen word 4s int guar 11121 A-0
Oct'07
• tot
93
91
91
3
37
91
Wilkes
East
&
See
Erie
Waco& N W
latg 08'30 1/1-N
/116 Deo'06
.......-. Wil & Sioux it Bee St P At & 31
A S. N W bit iru e5&1941 J -J
11094 Feb'06
Wis Cent 50-yr let von 48 11)49 j.j
R5
IRS
86
8 80 786
MISCELLANEOUS 110141194--eoncluded.
ilamilacturing & Induetrial
Miscellaneous
Beth Steel 1st eat st 54_1926 J.J
95
96 A.ug'06
Adams.Ex eel tr g 4s
1048 M.S
83
89
884
88% 18 83
Cent Leather 20.year g 544.1025 A.0
9014
943 944
04%
Am
Clout
SS
W Va g 58
854
31
1920 11-N
954
100-4 J'ne'02
(Immo(TEibaece 50-yr g 4st1551 10-A
......
71%
72
714 4 02
n t'erryCo lat cons g 58'46 F-A
721
/
4
41 Oct 916
uistli Sec Cor oonv Ist g 533.'27 A-0 73
74
73
17
74',
ChloJc
&
St
04
53.1913
Yard
76
dol
g
J-.1
100 Jan'18
int Paper Co let con g 08.1918 F-A ,102 Sale 102
100 100
102
II 101 103
inst 34 & it ht gr mccones 1911 A•0
45
47 Apr'e
Conrail cony s f g 58
. 424 47
1985 3-5 , 89
81
80%
8034 10 79
86
Int Merean Marine 448_1922
69% 6914
70
Int St Pump 10-yr cony. lis '13 3-5• (14
115 03
72
9312 May'08
90
6
947
tat
Navigation
58.11322
let
s
1
F-A
82'-,
82 May'08 .... 75
hackaw Steel let g 68-.1923 A-0 90
8'2
90.4 901
130 12 29 84
/
4
Man Bch it & L gen g 46_1940
91
Su Feb'En.
.......A atStarch Mfg Co let g be 1920 M-N • 78
834 Aug'07
......
Newp No Ship & D 5a 41990 J
97
........
Sat *tarot'(Joe f del)58_19253-3
......
TO Apr'07
N It Dock SO-yr let g 4s 1951 F-A
88
86 Apr'Oh .... 80 89
N I Au* Brake let cony (3,1'28 -N
911
/
4 92
91'4
92
37
Providence sec deb 46-.1957 NI- N
85'S
Oct85
'07
isepllbI&8 1st& coat'56.1934 A.0 9334
. .
148,4
98
Provident
Loan
Hoc
M-S
414s1921
85
85
EJ 8 Leath Co e!deb g6s-1913 NI-N • 105 107 10-1 May'08
1 83
85
$t Joseph Stk Yds/ lst4/
1
48.19$0 .1.3
its/ zs.Sep'03
U 8 Realty & 1 cony deb g58'24 5-3
80
75
81 111 18
(
;
081 5
:
11.
st L Ter cuppleaStat'nek Prop
/
1
4
t2:
1 910'7
714'
U 8 Steel Corp-5 coup 41963 31-N
43 Sale 954
901
/
4 1935
Co
year
let
g
5-20
1917
4
3
3-11
81 10-00 yr is. tog .41968
pdta
964
1 85% 96% S Yuba Wat co e.011 g 0a 14323 J-J
119 J'Ir°04
V4E-Car (Mein cot r i g .1k112 A-0 100
.....
4441
/
4 Mar'08 •
99
94.
1 sp Val Wet \Yorks let 643 1006 51-11
1134-Ply'00
1Vestinschotifte
MS Ids '31 J-2 • 804•3a1e 891
81
/
4
19 07
81
S Red S. tier lat f tle.1031
86 Apr'03
8714 91
8
83
pnoe Priazzy; latest bid anti asked We week. a Duo Jan b Due too
Due May jDue rue k Due
4 One Apr
ip Doe Nov 4015W/tab
V
, Prws
Prides
3/443 29
ii.
64...iff11
zT
It
----I
W
ss%
ir-A
CII1CAGO STOCK EXCEL& \TO-E—Stock Record—Daily, Weekly and Yearly
STOCKS-HIGHEST .AND Lowssr SALE PRICES
Satierelay
May23.
—
Monday
May 25.
Tuesday'
May 20.
Wednesday
May 27.
Thnrsday
May 28.
Prtday
May 29.
Sales
of the
' Week
Shares
190
*160 190 *165 190 *165 190 ' 170 170 *165 195 *165
*212 3
*214 3
May'08
Last Sale 212
4214 3
3
*2
9
8
8
.9
*8
10
*7
*8
*8 • 9
10
*8
1973 213.1 1912 203$ 20
2012 ' 1912 2014
211. 2238 • 2114 2131
*42
44
44 )1._ _
44
*75- 7512 *75
78
*75
*__ 18 *_.__ 18 *-__
*_ _. "55 *____ 54 *___ _
*45
4612 45
4518 47
*____ 2112 *____ 211. *____
*52 ''58 - *52
53
*53
*60. - 63 *60 - "'63
*60'
2818 ..2814 2818 2823 2814
92
f90
*90, -- 02 • *90
2012 ' 2912 2834' 2912 *28
*5
5434
*145
*116 45
10018
-44 *_ ___.• -4-476
*75
76 ,
18- *___ 18 .
55
' 55
4612 4612
4614 *___211.5 *___ 2112
58 - *52
58
6114 61 ' 61
2.V.. - 2814 2812
92
92 - *90
2912
2012 *28
Ju1-y307
Last Sale li
45 . *43
44
*42
75
'75
78
*76
May'08
Last Sale 18
Las? Sale 54 • May)08
47 • *45 • 47'
*45
May'08
Last Sale 20
May'08
Lag Sale 56
58
53
*59 '' 60
2814 2834 • 283s 2834
9312
.9212
9214
91
29
*28
29
*26
47g
. 518 *5 - - 518
'478
5
*478 518
5
5
5
54
5434 5418- .5418 *--,- . 5412 5414 5414 *5312 541. 54
Last Sale 145 Apr'08
150 *145 150 *145 '150 *140 150
Last Sale 11612 May'05
126 *116 126 */16 12012 *116 126
45
*42
843 "45
45 *__ 46 - . 43
45 * . 45
too too too tot
10018 ___-_ ____ ____ ____ 468, 101
94 1'
Ade 4'42,28 Aug8
-- 3 21
52 10-18- *2712*27122612
36" *2712i2 -i61-2 ;13
Last Sale 100 May'08
98
*96
08
*95
98
*96
98
*491. 501?
50
*49
50
50
*49/2 50
*4912 50
*4912 50
Last Sale 147 -Stay'08
LaSt Sale 16
ateh'08
8 . Last Sale 1
Oet'07
-1.1.- --1-1- -)
8 -,ii.- -118
.i.i- -ifs -id- --1-1Last Sale 4
Apr'08
*312 4
*312 „4
*312 4
*312 4
*26
*25 ' 27 27
27
2712 2712 2714 2714 27
28
28
12114 12114 12134 12134 *121 122 *12112 122
*12112 12134 12134 122
_
Meh'08
Last Sale 214
110
*iiio- fili- *iiiii- 116- *Mil 116- iiio- 1-0-9 - *109 110 *109
93 ' 93
94
9312 93
*93
0.1 , 9414 94
9414 93 .. 94
131
13012 131 *130
130/2 131
13031 131
13018 1301. '1301k 131
33
33
*3212 33
3112 3112 3114 311k 3112 3134 *3212 35
Last Sale 3114. Nov'05
Last Sale 80
Feb'06
Aug'07
Last Sale 41
Last Sale 212 June'07
Last Sale 2614 July'07
85 •
85
85
455.4 ..814-1-2 '
-0/3:/- -5-5-1; i.iii- -81- -ii- . -8-4-11-2 85
11478 11478
11412 11412 11412 114374 11414 11434 *114 11412 *114 115
6412 6412 6218 63
_ _ *64 _ _ _
.._
*63
*_ - _ - .65
Last Sale 112 May'08
*11118 115
*._- 115 *110 1-1-5 *--- 115
*64May'05
Last Sale 534
---- ---- -___ ____ --- --- ---- ___9133
013
. ` -Lint -it.ile 40 •May'58
;55 16 *31 35 ..._.. __ i.ai:- 16
*8812 90'
90
*88
*8812- 90
881* 8812 *8912 -90
90
*88
101
101 10112
*12512 129 *12512 129 • ,125)2 120 - *125 ' 129 *125 12712 . 12512 -12512
98
*07
98 . 9812 .9812 *97, 9812 • *97 , 99
*97
97
98
*78 . Ills - - 118
*78
118
,78
1
1
1 . 1
-618
-(i
6 , 61.
A.., 678 es, 634 614 633 Last
7
7
Safi 1412 May'08
15 •
*14
15
*14
15
*11
*14
15
. 10,... ioi 1.11i .101 i0i1.3 .1,ii, 1.01,4
10133 1004
__—___
--- ---- ---- -:.--------- ---.
----. --__ ___- __-_ ---- ---- -- ----
Last Sale 3212 Jan'07
Nov'06
Last Sale 10
Last Sale 16' - May'07
NO v'06
rnytt Rate 4
,
Lowest
Lowest
Higheit
Railroads
100 160 Jan 24 .175 ..Tan 27
2 Chicago'City By
138 Feb 3
234 Fe)) 13
Chicago & Oak Park_100
911 11141127
7 Mch 16
_100
Do pref
40
1,638 Chicago Subway
100 15 Feb 10 23 May22
4 May25
50 Chic Union Traction-100 .2 12Mch21
100
Do pref
15 Hans City By & Lt_ _100 39" Mch 9 46 Jan 14
100 6814 .Jan 4 79 Jan 20
5 Do pref
19 Jan 22
Metropol W S Elev..100 15 Apr 29
100 . 42 Jan 6 54 Mayis
Do pref
233 North Chicago Street_l00 44 May 5 47 May23
20 Jan 31
20 Jan 3t
Northwestern Elev__:.100
' 100 53 May 5 56 May14
Do pref
61 South Side Elevated_ 100 5234 Apr 30 71 Jan 13
510 Streets W Stable C L.100 2612 Apr 10 2012 Feb 21
100 85 Apr 20 04 May 4
Do pref
. 120
115 West Chicago Street--100 25 Apr 13 ql May 4
Miscellaneous
4 Feb 13
5I2,Tan 11
100
260 American Can
100 4112 Jan 2 1612 May10
Do pref
265
American Radlator 100 125 Jan 10 145 Apr 22
100 116 Apr 22 127 Apr 13
Do pref
50 Amer Shipbuilding_ _100 37 Mehl9 55i Jan 16
100 91 Jan 2 10018 May23
Do pref
42 Jan 9 42 Jan 9
Amer Straw Board
100 24 Jan 3 30 Jan 11
12 Booth (A) & Co
100 90 Jan 10 100 • May13
Do pref
Cal & Chic Canal &D..100 4Q Feb 20 51 Apr 28
Central Trust Bank-100 147. May 8 147 May 6
•
Chicago Auditorium
-....- Chic Breveg & Mait'g
4 Apr 13
4 'Apr 13
ermatic Tool-100 21 Feb 26 30 May19
ru
87 Chp
Pe
icoPn
172 Chicago Telephone-100 106 Jan 3 124 May14
234 Feb 21
34 Feb 25
Do rights
b Chic Title & Trust-100 100 Jan 4 111 Feb 4
382 Commonw'th- Ed ison_ 100 80 Jan 3 95 Mch2:5
100 113 Jan 2 13112 May15
593 Diamond Match
..100 30 Jan 22 30 Jan 14
410 Illinois Br1ck
---- Knickerbocker Ice___100
100
Ttemple
ere
onip
so
MaD
Milw & Chic Brewing
Do prof
100 70 Jan 3 8612 Apr 28
265 National Biscuit
100 10134 Jan 2 11814 May15
Do pref
131
100 51 Mch 3 641,2 May28
350 National Carbon
100 . 91 Mch23 ,112 Ma,y11)
Do prat
Page Wov Wire Fence
10 People'sGasL&Coke-100 8012 Jan 3 9112Apr 25
__.._ Sears-Roebuck corn_ -100 24 Jan 24 40 Mity20
100 72 Jan 10 8834 May10
Do pref
29
100 8812 Jan 2 103 May14
1,414 Swlft & Co
100 The Quaker Oats CO_ _100 11434 Jan 3 134 Jan 29
100 57 Jan 3 09 May10
Do pref
73
134 Jan 4
1,025 Unit Box Fld & P Co_100
7s May26
100
Do pref_
2.035
6 May28 12 Jan 15
100 14 Apr 25
17 Apr 11
---- Wester)) Stone
Mining
-___ Bingham Con Mining 50
Black Mountaln
20
---- Daly-West
-- - Hubbard-Elliott •
Chicaao Bond Record
•
BONDS
CHICAGO STOCK
•EXCHANGE
• Week ending May 29
Range for I'revtous'rear
(1907) .
Range Stites
Jan. 1 1908
OCKS
CHICAGO STOCK
EXCHANGE
.
•
It'd.
Range
Week's
Price ,
InterSlate •
Range or' Sold
eat' • Friday
Jan. 1 1091
May 29 ' Last Sale
Period
II ghest
150 Mch 205 Apr
5 Jan
134 Nov
16 . Apr
10 Oct
413l Jan
11 Oct
/14 Apr
214 Dec
14 Apr
1,14 Jan
65 Jan _
28 Noy
87 Jan
6834 Nov
28. Jan
17 Dec
Jan
72
Nov
43
3412 Apr '47 J'IY
2512 Jan
20 Sep
66 J'ly
58- Apr
90 Jan
50 Nov
28 Oct' 34 .Jan
05' Apr
90 -May
20 Mch
35 Apr
3 Oct
714 Apr
3412 Nov 00 Apr
120 Dec 14018 Sep
112 Nov 130 Apr
30 Nov '8012Jan
89 Nov 109 'Jan
30 Jan
40 Mch
211 Dec
40 J'ne
00 Dec 111 Feb
45 Oct
54 Jan
155 Feb 155 Feb
Jan
Aug
Dec
Oct
1 Jan
612 Joe
51 Feb
13412 Apr
05 Oct
77 Oct
10812 Nov
34 Nov
11212 Stay
8738 Oct
12912 May
57 May
41 Aug
212 Jan
25 Feb
5818 Oct
91 Nov
50 Nov
9734 Nov
46 Jan
213 Jan
27 Steil
86 Jan
1
5
21
35
11784 Jan
8414 Jan
120 Jan
72 Nov 9258 Apr
57 Jan
20 NoV
05 Jan
67 Nov
7512 Nov 11312 Jan
100 ,Nov 17312 May
85 'Oct ' 10234 Jan
214 Apr
'34 Nov
0 Jan
1234 Apr
16 Dcc. 30 Feb
3213 Jan
3212 Jan
1614 Alit:
20 Jan
Chicago Banks.and Trust Companies
.
•
'NAME. •
QuIstand, MI
. Stock
. t, •
.
.,
Surplus
end
Profits .
• t,
'
Dividend Record
in ' In
1900 1907
per-, Last Patel
10,1
•
• %
Q-J Meh ;08, 2
8
8.
Bankers National.
32.000.000 31,362,608
An. Dee '07: 6
6
5
100,000 . 31,681
Calumet National
J-J - Jan '08, 5
10
10
500,000 '. 165,474
Chleago City
Q-J - Apr'08; 3
12
12
Commercial Nattunal
2.000,000 .4,344,0;6
g
Q-J Apr ''08;" 2
s
. 4,000,000 -.3,472.044
Continental National
50,000
6 Q-J Apr '08. 112
6,
Cook Co State.SavIngs_ _
37.220
12 9.3 Apr '08. 3
Corn •Eirchatige.-Natidhal 3,000,90 4.924,628 12
Q-13 Apr'08. 112
6
DtexerState'
6
200.900''.45,677
. 8' 02•3 Apr '08, 212
Drovers Dep National
609,0010. 381..533 . 8.
C -J Ape q)8, 112
6
Englewood'. State ' 37.479 . 3 -:ammo
a Sich"08; 3
• •
First National.
8,005.000 7:795,051 . 12', 12
-:.1 NIell'08, 212
First Nat Englewood,,,,,,
160,595 104-111 10
159,000
Priv ate fla alt •
FOreman Bros Irk'g Co.:
63,854
500,000
8
Q4 Apr '08, 2
Fort Dearborn National_ 1,000.000 ...413,440
6•
Jan '08.-213
Hamilton' NatIonat4_,,,
,,_ • - 509.4)01
15.448 -___
8 04 'Apr'08,1
8,
Hibernian B'k'g Assn...., • 1.500,000 '995.297
J-J Jan '0.8..5
10
10
Knapar State °Bank
104,335
200,000
353,001 _ '_. _ ' --- Q4 Apr '08 212
Live Stock. Exchange Nat .1.250.000
National:,
300,000
3
56,811
Mdb roe.,
'3
.1a1-n!
1 (
'412
Maany'
;084'-• 412
1
a50,000
. g0,090 ____
Mutual- BankQ-J Apr- '08,, 2
8
6'
Nat, Hank of Republic-:_ .2.000.000 1,268,714
SI
buslne
Feb
5
1007
Bedan
457,207
Natiohal City
1,500,000
Aug 25 /907
51,421 Began tius1ne *a
250,000
National Produce .
01,780 Beghn bils11K to , Dec 8 1906
200.000
North 'Avenue State,- _
08;- 112
Apr'
.24
(
0
6
37,413
50,000
North Side -State Savings
Q-J Aim' '08., 112
6
6
38,102
...100,000
Oakland National
'
• 250,000 '.27,7.91
'
Prairie National'
.i.:3- Sidi '08; 2
.
8 .. (
400.000 '.63,5,12 d38 '
Prairie State •
4'-, 34, Jan '08.-2
..14,264 ....
250,000
Railway Exchange
ntzed
12 1106
Oct'
a
rg
0
123,656
300,000
,
Security
Q-.1 Ant'1'08,, 112
6
534.
78,156
200.009
South..Ghicago Savings
118;;;;
9+1 Q-3 J
8
State Bank of Chicago_ - 1.000,009 : 14194,783
J-Q De. V 4.3
I)
6
250,000 . 169,189
Stock Yards SavInga
8,-3
1a?
.
11
td-N
0
6
.41,151
. 200.009
Union Bank Of Chicago
Q-3 Apr 8, 113
. 6
6
200,000 ., 62,640
Union Stoek Yards State
8
434 Mgh'08,
8
American Trust A Savgs- ammo!) 2.542,976
Q-.1 Apr '08. 134
7
Central TrustCodf 111__.. 2,009,000 1,006,705
100,43-1 ----------Chicago Say 131r.&Tr_ __ _ n500,000
Apr ,'08, 112
Q4
I)
6
1.277,047
5,000,000
&
Trust._
Chicago Title
3
A-0 Apt' )8, 2
3
.37,104
• 50.000
Citizens Trust & Savings
Q-3 Ati
10
8, si2
10
.538,801
800.000
Colonial Trust & Savings
0. Q4 Apr'08, 2
6
Drovers Trust.& Savings .200,000 . .86,97.1
,0071,500,000 i. 84.970 Orga nized Apia 1
Farwell Trust Co
2,000,000 1,023,445 ---- ----- ---- - .,...,_
Fitst Trust & Savings
-,--' ----- Apr 318; 2
.
Harris Trust 3),Savings.._ 1.250.000 ,469,55)) —
a . 1'08, 4
IIIInols•Trust ..30.SavInes. 5,000,000 8,297,191 12-+4 1.0+4
6
Ci-J A 'OK. 112
443,469 -_200,000
Kenwood -Trust& Savgs_
2 (4 Api.'08: 1
434.759 ---200,000
Lake'View Trust & Savgs
12
Q-J Apr ,'08, a
Merchants' Loan.& Tr Co 3,000.000 4,522,183 12
6
Q-J Apr.'08, 112
6
750,000.0 351,221
Metropolitan Ttust & Say
8
8
Q-a Apr-, '08; 2
L830,622
Co
Trust
Northern
1.500.060
J4 Jan
6
200.000
45,677 --::Northwest Trust & Savgs
6
34 Jan '08, 3
0
77,093
200,000
Peoples Trust& Savings_
k8
Q-J Apr '08. 2
8
150,219
Pullman Trust & Savings k500,000
8
' Q-F May '08. 2
8
577,367
500.000
Royal Trust Co
5
J-.1 Jan '08, 212
13.939 ---200,000
Stockmen's Trust & Say_
-,- Q4 Meh '08 2
1.000.000 1,054,081 ---Union Trust Co
riy
Jon fling 7 RE'L &Tr
25,000 Forme
'200.000
United States Trust
6
Q-J Apr '08. 112
325,150 6+1
Western Trust & Savings 1.000.000
Sept 6 1905
West Side Tr & Say Bank - 200.000 ' 43,358 Began busine ss
6
0-3 Anr 'OR. 119
6
27.880
200.000
wflactlawn Tr& Say Bk
5 No price Friday
t May 14 for national banks and May 12 for State Inst tuttons.
* Slid and asked prices: no sates were made on this day.
a
latest price this week. a Due Dec. 31. b Due June, d Inciudes special d vidend of 30% pald Dec. 18 1906. it Capital increased from $300,000,
g Dividends are paid Q.J. with extra
n Capital and surplus to be increased
stock dividend of 33 1-3% being declared In part payment there/or.
15
Feb.
of
As
1908.
Q-F.
S
payments
Higl
High No. Low
sid • • Ask Low
--- _......
-........ ' -',-", --American Biscuit Ss., 1010 F - A ---- ---- 100
_-Nfeh'07
-___
__.„
J
J
ist,0s_1011
Poner strawb'd
Cass Ave & P. G,(St L)--• .
3
99112 1011)
1912 J - J ____ 10112 10034 • 10034
• 5s
- --_
nic.'ilai:(1701WfW1;1927 J - I) --; . ,..- - 100- May'07
10114 20 -9478 10-1-7,
Chicago Ctty !%y')Ss, _19V P - A 1-0138 Sale .10038 Apr'04
__._
____
Chic C,onstil-Br&Mit 6s._......., J - J _-- ..._._ 103
-_
55 Autt'07 -. I
Chic Consol,Trac 41-00939 J, - I) ---- • --. 9034Jan'06
..__
Chic Audttorlum 1st 5s10211 V. - A
__, -_,...'-------Chic Dock,Co 1st 4s.....1929 A - 0 _-__ 08
.
Chic No Shore Elee.6a-191.2 A - 0 - --------87 Feb'06 ---- -4.
55-1919 J - J ___- -_-_ ---- ---- Chid de-MILElec By
•,
Chic Pheum Tool, 68' • 7211
7212 7212-May'08 __71
al02/ .1 - J
1st •15s .
9514,1013
4. _ _ 10138-May'OS __- 192; F - A _ _
Chic By 58
90'1 '.90.34
t il'i -Sale
90 - • -.903, Is
a . rIts "A'
Chic Rys.4-5s a
44
.7988
•
753
79
e'80 .
Sale
79
__
.
II."
Chlc Rye-4,-5s srrles"
_....;
___.
79 'Nov'04 -__
e
Mil 181 611?.R.11 4s..,....2002 NI- - N ---------_
....._
..I
•
A3t'04
-:.:..
'
_
30
S
NU-------50_191a
TrUst.g
Collat
Ci;IMMOIPN.'alth-Ed!son100 10010 10014May08 __ _ 100 -100%
Chic 'Edison deb 6s1913 J - .1 2100
- Sale 100
97 100
100 •
1st g 5);.% -July 1926 'A - 0
9834 991.
5
9834 991)2
• Debenture-5s,-- 1928 AI - S 5 9912 Sale
93 1013;
148 -101
_,, Comtnonw Elect.3851943 NI - 5 .4011 1011
80
-Dee'06
------0
3
__1928
BlInola.Tunnel 5s..
-0-3-7;
t-):1
Itah City By deLtCo-5s 1913 M - N ----- ----9318 A prQ8 ._ _ _
8518 86
86 Ateos ____
linIck'b'ker Ice 1st 5s_1928 A - 0 --.., -93
881:2
80
•
6ay•08
85
113
J
J
1928
woce St E1-..,1st 5s
16 May'05
..-.1025 Feb
.
ti :, i ncome 5s
:
getr.i.V. Side Mr- •
5
8114 881.
87'
8714
,....,.. _11)38 F - A -_-- , 88
is •
,
„lat,,
80
85
8412 8434
Extension g -4s __._ 1938 J - .1 --- 84
—__.
North•Chia.St 1st 5s_ -1909 J - J -------- 90 Dee'06 ___
J
1916,1 ---------------------------1st53,....4'.
.
.- Refundisig g 410 1931A'- 0 --------79 AuteU6 ____
NoChle•CityRy4;01027 M -•N -___ ___ .75 Veb'07 ____ ___ .....
,
North•Western Si- •• ..
OM;
5
86
1911 :11 - S , 9014 Sale 9018 - - 0O'l
- .
-, 1st 43.....)
1
8014 03
1945 Nf - N 2,19212 Sale , 9212 -921.
gtlett Gas 5s_
_.
•
_,....
__
10012Meh'06'
'99
D
1910 .1
earsehs-Taft 5s
95 .-9-5
_.
95 Apr'08
__
It- S . ,. 4.400 :.,,
06 • 90
06 Apr'08 __-_
971r2 •
.: 4.60s Series E
M- N
9712 •971,2
M - N 97 ____ .971.3at '08 ____
Series F..,•
10912 112
___ 112 Mar'08 PedGas L&C 1st_6s-1943 A - 0 --94". 101a,
10138 10158 25
Refunding g 5.1,,,,.,..1047 It- S 5.— 103
9712 103
Cb10 Gas L&C 1st 5s1937 J - J 10234 Sale 10212 10234 11
9434 1001:
10012 10012 10
Consinn Gas 1st 51_1936 J - D4/0014 101
98 .100
_-_- 100 May'08 ---'Vet% Fuel Gas 1it5s1947 M - N .+....
,
9334 •-'001;
South Side Elev .00_1924 J - J !1961-8. Sale . 9512 9618 15
93 100
Swift & Co ist g 53,-1914 J - J V11934 —.. 9934MaY'08 ---90.
90 Feb'08 ___- '90
____
Union Si (Loop) 5s.....,1945 A - 0 5 88
_ 114 Nov'04 --_- -„- .....
Union PaclOc cony 48_1911 M -.N ------_
80 -68
66 Apr'08
United Box Board col Os'26
--9West Chic St 1st 6.s.,..1928 A1 - N ----------90 May'07 ..--- ---- -..
___
6812 Sep'05
___
Tunnel 1st 5s
1909 F - A
__,_.
Debenture 6s •
- 3 June'07 ____
1014 J - D ------- 7
7212 80
812 7918 15
1 Sale
Consol g 5s rcts_ _1936 M - N
' Wes DiveltyRy 4-301932 .1 - J ---------87 Dee'06 -......
70 -70May'08 ---Western Stone Co 5s 1909 A - 0 -------70_
n bon d nrInem
.
. P
.
Mira
A
.rs *Ii
a.4,1Pa *
), -,,,pa ),..).:,...... -1.-,- .
,
.,•,/.. -,),,
.
.
MAY 80 1908.1
THE CHRONICLE
1333
1114 - Ask
industrw nod ilisce
Telegr & -telephone
Bid Ask
25
65 Consol Car HeatIng_100 20
eAmer Teleg & Cable..100 59
112
LgtdclicfrIg_1011
100
Sty
(10
Gons
_100
eCen tral & So Amer_
3
"
e lu ti
Consol Rubb
100
Cornm'l
Un
Tel
(NY)
-25
EXCHANGE
2()
TRANSACTIONS AT THE NEW YORK STOCK
Preferred --------- 10_
Erm
F
pkh
an
linBay State Tel 100 50 .60
DAILY, WEEKLY AND YEARLY.
50
40
Debenture 4s 1951A &O -2117 251.
lie
1;
97 Cons Steamship Lines 100
0 90
00
eGold & Stock Teleg _10
1112 101..
38
Coll tr 48 1057___J&J
Hudson River Teleph 100 30
Railroad.
Stocks.
list
Exc
Stock
110
Cern
See
Prod
Ref
_100 10))
eN Y & N J
U. S.
Slate
c.
Week ending
53t
00
Bonds. eNorthwestern Teleg__50 95 105 eCruciblc Steel
Bonds.
Par value.
Bonds.
Shares.
May 291908.
40f,
ePreferred
65
25 55
Pacific de Atlantic
89 Cumbt-rland Ely Ccpp,r.5 •778 8
Southern do Atlantic.. 25 85
$120,000
782.537 $67,583,700 $1,368,000
Saturday
*Diamond Match Co_100 130 13012
Ferry Companies
190,000
3,163,000
827,692 73,176,700
Monday
10 *173 2
3 Dominion Copper
I
Brooklyn Ferry stock 100
104,500
2,206,000
705,843 82,161,800
Tuesday
5 *02 514
92 _ Douglas Copper
B de NY 1st Os 1911.14 387
173,000
2,769,500
887,951 78,752,550
Wednesday
__
Econ'y Lt & P (Joliet, 111)
45
NY&ER
stic_100
Ferry
141.500
2,678.000
688,082
59,484,700
Thursday
C8
97
M
1st
g
f
8
5s
70
19.56_J-D
50.
5s
1st
1922
$2,000
135.000
470.954 43,138.150
2,194.000
Friday
25
100 15
preferreBdoat
Electric
93
NY & Bob Is May 46J
1--D 390
1N
100
3101
oecb N
N
y
P
e
I
l
j
1
t
$2,000
s
6
1
4
3
0
11
5
i
9_4_8_3_1
$864,000
$14,376,500
4,341,059
$384,297,600
Total
3
100
390 --_-_- Electric Vehicle
5
100
Preferred
10th & 23d Sts Ferry..100 25 -35
Jan. 1 to May 29.
Week ending May 29.
10
100
Empire Steel
Sales at
60
let mtge 53 1919_J-D 360
55
100 45
Preferred
New York Stock
12 cFe
9
eUnion
Ferry
stock_
_100
1907.
108.
GS
1907.
Sugar
1908.
gar of N Y 100 45
Exchange.
elst 53 1920
Id--N 67 .._
100 88 89
ePreferred
108,445,153
74,997,001
3,017,428
eGeneral Chemical_100 55 65
4,341,059
Stocks-No. shares.- Notes
Short-Term
100 8612 100
$384_297,600 $257,934,925 $3,697,377.925 $9,087,331,610 Am Cie ser A 4s .11....M-S 39434 9511
ePreferred
Par value
$177,700
$105,700
$2,700
9334 GlIdildd C •ns_ii MInes_10 *518 514
$4,700
Bank shares, par
Ser B 4s Itch 15 '1261 S §93
*In
1
u912 Gold Hill Copper
400
g
Tel
&
Bonds.
Se
Tel
Am
10
J-J
$387,500
$344,820
20
624,000
012
$2,000
Government bonds..Coast L Sc '10_M-S 4981s 983s, Greene Cananea,,
23,919,900 Aden
*4,
53,999,000
1
1,048,500
864,000
State bonds
Bait de Ohio 58 1909_M-S 510018 1007N Greene Consol Gold...10
190,017,000 Ches de Ohio 6s J1y1 '10J-J 310033 10034 Greene Gold-Sliver_
*14
335.348,100
I0
5,814,800
14,370,500
RR.and misc. bonds
14 9934 Guggenheim Explor' i WO 145 155
Chic R I &Pac 6s '09A-0 399.
$214,324,400
$389.891.920
$15,242,500 $8,887,300
Total bonds
Chic & W Ind fis '10_F&A 199,8 10014 eHackensack Water Co
80
Ref g 4s '52 op '12--J-J 84
60
Gin Ham &D4 Hs '08 M-S 52
10() 30
35
Hall Signal Co
C CC de St L 5s, June 'II 49012 100
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
1.0
8
EXCHANGES.
Consol Gas 6s 1909_ F-A 310034 10114 Havana Tobacco Co 100
100 17
20
Preferred
99
Erie Os, Apr 8 1911 A-0 498
1st g 5s June 1 '22..J-D 45 SO
Interb R T it Os 1911 M-N 4 ,-- 10018
Philadelphia.
Boston.
5s Mch 1910
M'S 4714 9758 Hecker-Jones-Jewell 31111
M-S 100 104
1st Os 1922
95
Kan C So g 55 Apr '12..J-J 394
Week ending
Bond
Unlisted
Listed
Bond
95
45
Listed Unlisted
Her'g-liall•Mar. new 100 35
Lack Steel g 53 1909_M-S W
May 29 1908.
sales.
shares.
shares.
saks.
Hoboken Land & Imp100
93
shares. shares.
M-S 390
5s g 1910
e5s 1910
11-N 3166"
Lake Sh de M So 53'10 F A 310018 10012
$2,000
8,007
18,438
$53,500
9,903
100
Houston OIL
15,955
712
39912 100
Saturday
59,900 Lou & Nash g 51 '10-111-S
5,408
18,894
119,500
9813
12,427
100 20
Preferred
17.147
35
397
Monday
31.000 Mex Cent 5s July 1 1910 1100
6,962
20,186
170,500
9,231
100 100 110
20,710
Tuesday
10014 Hudson Realty
Mlch Cent 53 1910:.__F-A
26,000
10.136
24,535
138,000
13,383
95 eIngersoll-Rand com.100 50
21,965
& St L g 5s '11..F-A 392
Wednesday-Minn
34,100
6,178
22,249
107,000
10,465
ePreferred
100 85
13,791
Thursday
Pacific14,000 Missouri
6,427
17,028
129,000
8,818
115
12,818
es Feb101 convop F-A 395 97 Internat'l 13ank'g Co_100
Friday
Exo list
399 100 Int'n1 Mer Mar See Stk
to'09
ext
A-0
5s
Natoftiex
42,116
$167,900
64,027 $723,500 121,310
100 83 95
102,186
Total
F-A 3100 10014 Intentat'l Nickel_
N Y Cent 5s 1910_
Preferred
100 75 82
NYC Lints Eqp 5s'98-22 6478% 412%
18
NYNH& H 56'08-'12 1100 1003 International Salt. 100 15
1st g 5s, 1951
A-0 62 60
Nor! & West 5s 19I0M-N 39918 9912
100
6
10
Pa RR 5s Mcb 15 '10 M-S sloo 10014 Inteniat'l Sliver
100
Preferred
49
60
9312
StLMS'east 414. '09_J-D 392
J-D 10312 105
1st Os 1948
A weekty review al Outside Market wilt be lound on a preceding page.
9512
St L dc S F g 4 Hs '08-J- D 394
30
98 Lackawanna Steel_.-100 34
South'n coil tr is '09_ A-0 496
Monotype _20 *10
1.013
Street Railways
it td Ask South By g 53 1910._ F-A 480 85 Lanston
Bid Ask
Street Railways
100 186 196
Mtge Co
Lawyers'
3
983
31)812
'13,
wl
ri5s,
guar
Tidewati
Pub Serv Corp N J (Con)
New York City
50 80
U S Rubber it Se '09_M-S 19738 98 eLeh & Wilkes-B Coal100
25
J C Hob it PatersonBleeck St dc Ful F stic_100 18
Lord & Taylor
130
91
Wabash 5s. May 10 1900 380
4s g 1049
M- N 68 69
85
e 1st mtge 45 1950-J-J 76
100 95 too
Preferred
Westingh El&M tis 1910 386 90
So J Gas El de Trac_l 00 114 118
o B'y & 7th Ave stk__100 115 130
98 *Lorillard (P). Pref..-106 115 135
9412 Wheel de L E Sc '03.-F-A 394
Gu g 53 1953_ M-S 194
2d mtge 5s 1914__J-J 93 100
Madison Sq Garden 100 9712 105
No Bud Co Ity6s'14 J-J 3105 -Con 551043 See Stock Exc list
/11•N 70
2d Os 1919
80
Railroad
5s1928
J-J 1104
B'way Surf 1st 53 gu 1924 100 105
Ii
eMan hat Beach Co -100
2
Chic Peo de St L pref-100
Ext 58 1924____M-N
'Crosst'n stk__100 100 140
•Cent.
53 2 Manhattan Transit.._..20 *233 253
stock
Deposited
120
'31_J-D
6
Os
110
Pat
con
110
10
City
3
4
100
a let mtge Os 1922_M-N
10 • 12
Mining
Mitchell
58
2
3
5
Undeposited
2d Os....1914 opt A-0
R stk 100 10.) 130
•Cen Pk N
90
Monongahela It Coal _ _50 * 4
Prior lien g4 Hs'30M&S 80
list
3100e Chet'r & 10th St elk 100 100 125 So Side El (Chic) See Ch !cage
50 * 2534
Preferred
00
45
1930_J&J
5s
g
mtg
Con
103
flOu
'48.31&S
5s
T
R
Syracuse
list
Exc
Col & 9th Ave Ss See Stock
5
10
Mortgage Bond Co__100 82
Income 58, July 1930_
Trent P & H Se 1943.J-D 395 100
Dry D 11 B de BNat Bank of Cuba___100 100 11(1
23
100 20
Chic Subway
e 1st gold 5s 1932--J•D 90 95 United Rys ef St L100 140 14712
National Surety
std_100 95 101
Cy
W
Ft
Den
&
2012
2014
-100
ettstr
vot
Corn
58
50
e Scrip 56 1914____F-A
Nevada
Cons'd Copper_5 .1134 12
Stk
Etc
list
Ore-See
North'n
Gt
63
100
6258
e Preferred
Eighth Avenue stock_100 225 300
Nev-Utah Min & Sm_10 .338 312
N I N H & HartfordExc list
Stock
1934.
_Sae
4s
Gen
105
100
1914____F-A
Os
Scrip
Coal____20
e
25
50
Can debent's-Set Stek Exe list eNew Central
Fran See Stk Exc list
N J Per Dock de Iin p _100
•42d do Or St ry stk_100 225 300 UnitRys SanEl
34 North'n Securities Stubs_ 11212 125
Co- _100 32
75 Wash Ry &
Cs See Stein If xc let
42d St M & St N Ave_100 50
82 Pa RR new 4s'48-See :Mk Etc listNY Alr BrakeOs
100
81
Preferred
100
198
M-S
1910
1911.31-S• 100
•let mtge Os
33 N Y Biscuit
50 *30
82 ,PItta Bess & I,. E
J- D 80
4s 1951
SO
N Y Mtge de Security..100 135 1-4Y2d Income Os 1915_J-J 40
67
50 *65
29
Preferred
Chicago St...100 28
eNew York Dock_100 28
Inter-Met-See Stk Exch ange list e West 531038 rcts 11.1-N ____ 17012 eRallroad Securities Cog
Con
list
Exc
100 73
ePreferred
Lex Av &PaVF 51 See Stk
8412
111 C stk tr eta ear A '52
N Y TransportatIon_20 *312
Metropol St By-See Stk Exc list
Seaboard CompanyGas Securities
Ninth Avenue stock-100 110 130
100 30
35 Siles-Bem-Pond oom_100 90 100
let preferred
York
New
105
95
5 *738 713
Nipissing Mines
Second Avenue stock _100
Corn & 2d pref-See Bait Exc list
92
96
95 Cent Un Gas 53 it
100
e 1st mtge 58 1900..M-t' (10
eOntario Silver
6
512
Seaboard Air Line1)-See Stk Etc list
100
Consol 58 1948____F-A 87 92 Con Gas (N
38
Coll 3s ext May '11 M-S §87i2 g9 Otis Elevator com
150
100
1.10
Gas
Mutual
e
130
120
00
100 87
Preferred
•Sixth Avenue stock-1
92
Miscei
and
Industrial
Gas
Amsterdam
New
Sou I3oulev Sc 1945.-J-J 90 100
9412 Adams Exp g 4s 1047J-D 45912 90 Pittsburgh Brewing_ __5() *____ 20%
93
•1st consol Is 1948 J-J
50 •____ 4034
So Fer 1st 5s 1011).._ A-0 90 100
Preferred
23 *63 70
Ahmeek Mining
NY hERGas 1st 53'44 J-J 95 100
Third Avenue-See Stock Exc list
110 Pittsburgh Coal_See Stk Etc list
100
Alliance Realty
J-J
95
1945
53
88
Consol
90
Tarry W P & N 55 1928 #711
Manufacturing_100
Pope
mtg
let
2
Co
Allis-Chalmers
45
N Y & Richmond Gas 100 34
85
YkersStRR5s 1946 A-0 376
100 _ 15
1st preferred
30
s 1 5s '36 opt '18--/-J 46812 8712
94
8212 Nor Un 1st Is 1927-11•N 84
10
2d preferred
28th & 29th Ste 1st 55 '96 380
1
100
110
140
Book
American
com.._100
75
Gas
Standard
_
e
•Twenty-Third St elk 10 250 325
100 103 107 Pratt de Whitn pref_100 90 101)
American Brass
100 Yo " 100
93
e Preferred
Union By 1st 53 1042 F-A #87
Assoc (Bklyn) 100 115 118
M-N 398 104 eAmerican Can-See Stock Exc list• Realty
1st 5s 1930
Westchest 1st 5s '43 J-J #80 90
Royal Bak Powd coin 100 135 145
185 190
_100
Co_
Chicle
American
Cities
Other
Brooklyn
1oa 94
Preferred
97
95
100 92
Preferred
Amer Light de Tract_100 103 108
Atlan Ave 5s 1909_ _ _A-0 108 101
112 117
39 Safety Car Heat de Lt-100
100 93
Am Graphophone com100
95
Preferred
104
'5 *50
A-0
MInIng
Seneca
Con 53 g 1931
852
71
_100
Preferred
50
Gas
State
1113
Bay
1
100 375 425
BB &WE 5s 1933_ A-() 9.5 100
100 16.3 110 Singer Mfg Co
Amer Hardware
95
Bingh'n Gas 5s '38_A&0 85
Cordage_ _100
Brooklyn City stuck.. 1( 183 pH
34
311
AmMalting Os 1914_.J-1) 100 103 Standard 5s
Brooklyn Union Gas deb
red:A-0 20
'31
g
M
1st
Con 5s-See Stk Etch Ex° list
2212
102
_100
98
Assoc'n
1907_31-S
Press
cony
Amer
Os 1009
110 118
Adjust M. 56 Apr 1 1931
Bkin Crosst'n 58 1908_J-J
2
13
314
Am Soda Fount com_100
City Gas stock100
6
412
Buffalo
60
1
95
A-0
1941
comltiO
5s
1st
Coupler
Bkn ligts
40
35
16- Standard
100
let preferred
1st 55 1947-See Stock Etc list
100 100 110
Bkin Q CO dc Sub Sec Stit Exc list
Preferred
2
100
241 preferred
uo
Gas of N J 55 '36_J-J 385
Bklyn Rap'Fran-See Stk Exc list Con
6
8
Am St Pound Os '35 A &O 3 iii 96 Standard Milling Co...100
& PowH
L
Consumers'
100
50
Bklyn...100
100
e Coney lid &
Preferred
34
31
50 14712 155
J-D 498
American Surety
15s 1938
80
-N
M
1st
1930
5s
1st cons g 43 1948_ _J-J 70
77
80
*4
34
4
pref__5
Thread
.100
American
Co.
Lt
275
Elizabeth Gas
011 of N J__100 596 600
Brk C &N 53 1939_J-J 90 100
- . Am Tobac(new) corn..100 335 345 Standard
Essex & Hudson Gas-100 117 121i
_
Gept&LorSt 1st 63..M &N
38 Swift dc Co-See Bost Stk Kie flat
Amer Typefders com..1 00 35
45
Fort Wayne Os 1925--J-J 40
1st
Kings C El 4s-Sce Stock Sic list - Gas
Se11110-1914....-J-J
100
0934
95
98
Preferred
Co_100
00
56
& El Bergen
Nassau Plec pref__10(1
Paper-100
2
2.53 eTexas& Pacific Coal-100 75
as
A-0 -93" too" e Gr Rap Gist .5s 15_F-A 1902 9912 Amer Writing
Ss 1944
Title Ins Co of N Y _100 110 125
100 17
20
Preferred
100
109
Gas
Co
Hudson
107
list
Exc
Ast 4s 1951-See Stock
814
85 Tonopah Min (Nevada)_1 *8
lets f g 53 19 op'09-J-J 83
Indiana Nat h Ill GasN W'bg&Flat 1st ex 4
coin100
Potteries
Trenton
12
7
Barney & Smith Car_100 -- 50
N
1st 63 1908
I() 17
Steinway let 6s 1922-J-J 395
Preferred, new____100 55
100 ---- 110
Preferred
50
6i)
Gas
Indianapolis
40
100 30
Other Cities
Directory
Ist g 5s 1032
A-0 300
96 eBethi'm Steel Corp 100 1312 16 Trow
Buffalo Street Bys 551s
39
41 pnlon Typewriter com100
eissPrcefeomrrpedany
945
1st consol 5s 1931_ F-A 1103 106 Jackson Gas 5s g
100 105 110
• 1st preferrea
SO
corn..
125
BI
110
0
5
5
48
10
106
Gas
Kansas
City
Deb es 1917
A-0 110312
100 102 105
2d preferred
50 110 125
Preferred
10
7412 -79 50
Columbus (0) St Ry_100 92 95 e Laclede Gas
13k
United
*50
5.3
10
e Preferred
78..L. Bond & Mtge Guar......100 295 305
100 10412 107
Preferred
Preferred-------------So *50
53
Borden's Cond killk--100 133 136
4
40
Lafay'eGas 1st(13.24_M-N
Colum Sty con 58-SeePhl la list
95
100 102 105 eUnited Cigar 5.1.1-g,p1_100 z85
Preferred
3()
; CrOSat'wn 1st Se '33 JD 1100 103 LoghWabV 1st Os'25 J-D 25
100
Copper
United
5
7
634
5 *434
British Col Copper
Madison Gas Os 1920_ A-0 19912 106
100
Preferred
eC0113XBy & Ltg COM- 100 63 87
Butte CoalitAon 'Mining 15 *23 24
_
75 Newark Gas Os 1944- Q-J
100 07
eYceferred
100 200 215
3. U S Casualty
I_
25 -87 Casein Co of Am com_100
70 Newark Consol Gas..100 318
Grand Rapids By..,... _100 60
100
com
Envelope
S
U
_ 60
25
100
Preferred
J-D 3103 104
e Con g 53 1048_
80
100
Preferred
100 87 -or
_, ePreferred
Casualty Co of Amer_100 fib 125
e LoUlsv St 5s 1030_J&J 6,641 -2 10612 No Hudson L H dePowG S Steel Corporation100 120 125
Celluloid Co
A-0 3 98
153 1938
Lynn & Boa 1st 5s '24 J-1) 310012 101
'11
opt
'51
Is
f
Col In s
15
8
3109 110
Cent Fireworks corn..100
• New On Rya & Lgt_100 1234 1368 e 0 & Ind C Nat&III_100
65
Col tr s f 511 '51 not opt 310914 11014
100 50
Preferred
J-D
1st Os 1920
100 3134 3314
•Preferred
100
75
114 214 U S Tit Gu & Indem_100
Central Foundry
Gen Ii g 4 Hs '35 See S tk Ex list Pat 6c Pas Gas& Eice_100 70 -Stk
813 12 eUtah Copper Co-See
100
Ei'e" list
Preferred
M S 5104 102-e Con g Is 1949
North Chic Street See Ch 'cage list
_100
_
corn
Co.
Waterbury
62
op
M-N
1919
'01
55
05
Deb
v0
80 St Joseph Gas 5s 1937-J-J 380
Pub Serv Corp of N J.100 76
100
Preferred
90
100 180 190
Century'Realty
70
Tr ctfs 2% to 6 %perpet 69
Westchester de Bronx 'lit
Chesebrough Mfg Co-100 400 425
Electric Companies
Coll 55 g notes '09- M- N I0612 6612
100
Guar
Mtge
&
140
160
Co--100
Investing
00
56
__ Chicago Edison Co See Ch I cago Het City
North Jersey St By 100
100
_
Western lee
30
95
MN 389
25-71 e Kings Co El L&PCo 100 115 113 eClarlin (H B). corn -100
1st 4s 1948
Westingh Air Brake _50
100 93
99
95
alit preferred
90
Narragan(Prov) El Co_51/ *86
72
Cons Tract of N J-100 71
St
Exe
53--See
Mfg
de
El
West
Ust
100
preferred
e2d
35
30
J-D 3105 106
N Y ht.) El L dePowCo _10J
1st Ss 1933
*18
10
Min
White Knob
05 -75
03 Col de Hock Coaldcl pf 100 00_100 60
Preferred
J-J 310512 107
New'kPasRy 5s
10 *1
Preferred
J-J 88
93
114
70 I
1st g 53 1917
United Elec of N J _ _100 GO
Rapid 'Fran St Ry_100 235 245
Col tr 85 Oct 1956-J-J 921. 10112 Worthine rump oref_100 100 105
J-D 308
87
lit g 43 1949
A-0 4105
1st :is 1921
price.
Sale
s
:4.'1°11111m1,
Ex-d1V.
stock.
Very
a,ctive.
:24ew
•Per share. 4 Buyer pays accrued Int, a EX-rights. a Sells on Stk. Ex., but not
Volume of Business at Stock Exchanges
Outside Securities
36
BOSTON STOCK EXCHANGE-Stook Record, Daily, Weekly and
early
NIB•
SHARE PRICES-NOT PER CENTUM PR,ICES
Saturday
May 23
Monday
May 25
Tuesday
May 26
Wednesday
May 27
Thursday
May 28
Friday
May 29
Sales
01 the
Week
Shares
STOCKS
BOSTON STOCK
EXCHANGE
Range Since
Jan. 1 1908
Lowest
Highest
•
Range for Previous 3e,r
(1907)
Lowest
Highest
Railroads
8134 81
81
81
80
*80
8114 8114 7034 8033 80
8014
610 Atch Top & Santa Fe..100 15758 Feb 11 5912 May19
(1712N0v 10712 Jan
*9112 9212 *9113 9212 *9014 9114 *9014 9114 9038 9038 *9014 9114
11
Do pref
100 8312 Mch 3 93, May15
7934 Not 10133 Jan
*203 205
20313 20413 *20313 205
20313 20313 204 204 x20212 20213
69 Boston & Albany_ .....100 18112 Jan 2 2004 Apr 22 1.80 Dec 240 Feb
*__
134 134
134 134
133 13312 135 135
130 Boston Elevated
133,2
100 125 Feb 17 140 Jan 20 11734 Nov 152 Jan
4:;;. 207
_ 210
207 207 *207 _ _ _ _ 208
210
208
22 Boston & Lowell
100 20014 Feb 11 21013 Apr 16 200 J'ne 231 Jan
12912 130
121113 130
12913 12934 12878 1291. 126 12814 *128
__
375 Boston & Maine
100 126 May28 140 Jan 28 129 Nov 170 May
150 150
150 150
150 150
50
Do pref
-100 136 Feb 13 156 Jan 22 150 Oct 165 Jan
_ _ _ 280
Last Sale 285 1.1;-y
286
290
-70-8 ---- Boston & Providence_100 284 Jan 10 292 Apr 16 285 Oct 301 Feb
*li
*11
12
Last Sale 12
12
12 *11
*11
12
May'08 --- Boston Suburban El Cos9 Mch 4 13 Melt27
15 Feb
8 J'ly
*52
*52
56
Lan Bale 56
*52
56
56
*52
56
May'08
Do pref.
-45 Jan 31 56 May19
50 Aug 65 Jan
*10
*10
11
Last Sale 10
11
_ *10
*10
11
May'08 ---- Boston & Wor Elec Cos10 Feb 28 17 Jan 25
2834 Jan
16 Nov
*
_ 54
*54
54
56
Last Sale 54
*52
May'08 -Do pref
50 Feb 27 6012 Jan 10
80 Jan
55 Nov
Last Sale 145 May'08 ---- Chic June By & USY.100 126 Jan
*145 --- - *145 -_
_ *145
2 145 May19 128 Dec 160 Jan
113 113
112 112 *113 ..-- *113 --__ *113
)14:1&-111 111
11
Do pref.
100 102 Jan 10 11312 May22
9934 Oct 120 Jan
165 165
10 Con & Mont,Class 4...100 16314 Mch 5 165 Mch 4 170 Oct 188 Feb
-Ems Wee fig- Apr'08
- Conn & Pass Riv pref_100 138 Apr 21 138 Apr 21 152 J'ly 156 Mch
Last Sale 253 Apr'08 -___ Connecticut River
100 244 Jan 14 253 Apr 22 294 Dec 280 Jan
jig; figii 12513 129 *12512 129 *127 129
128
128
46 Fitchburg pref
100 117 Jan 2 131 Apr 21 116 Nov 135 Jan
69 4.--- 60
69
-76
8 .3._ 69 *____ 69
69
4 Ga By & Electric-- _ 100 67 Apr 27 79 Jan 27
6912 Dec 114 Mch
*78
85
*78
85
85
Last Sale 73
85
*78
*78
Oet'07 -Do pref
100
73 Oct
88 Mch
Last Sale 190
Sep'07
Maine Central.
100 .
190 Aug 198 Jan
.
3 10
*912 10
7
61
10
.2 16- -Wiry -16 -;1,51
10
*912 10
20
1213
Electric
814
2
Jan
Cos..1
00
0
Jan
8
2012 Jan
7 Dec
45
45
4412 4412 *44
,044_ *44
___ _ *44
___ _ . 29
Do pref
100 40 Jan 2 5012 Jan 8
37 Oct
7112 Jan
163-8 *1513 16
*1513 1612
*1512 163 *1538 -Last Sale 1538 Apr'08
Mexican Central. ___ _100 1533 Apr 25 19 lich31
14 Nov
2534 Jan
13413 13412 134 13412 134 13412 132
134 135
13478 130
13334
725 NYNH& Hartford_100 128 Jan 6 14034 May18 12713 Nov 19012 Jan
Last Sale 143 May'08 ---- Northern N H
- -100 143 Apr 7 145 Apr 1 145 Dec 160 Jan
Last Sale 200 Apr'08
Norwich & Wor pref_100 200 Apr 6 205 Feb 26 205 Nov 226 Feb
183 183 *182 cif" 182 184
183 - 181 182
184
184
-.119 Old Colony
100 175 Jan 11 188 Apr 1 175 Oct 20014 Jan
*26
*26
29
*26
29
*26
Last Sal,29
29
29
May'08 ---- Rutland pref
100 25 Jan 15 29 Apr 2
25 Nov
45 Jan
Lau Sege 70
*70 --- *70- *70 _ _ _ _ *70
Apr'08
Seattle Electric
70 Feb 17 75 Feb 11
100
82 Aug
94 Jan
91 11- *9013 _ _ *9112 92
_
*9112 92 *9113 92
io
Do pre
100 8833 Jan 2 95 Feb 8
9334 Nov 103 Jan
14238 1473
- 4 14234 14553 x14014 14378 13834 14038 139 14114 13914 14078 13,856 Union Pacific
*9012100 11012 Mch 2 15158 May19 10012 Oct 1821. Jan
*8412 8513 *8413 8512 8234 8234 *8212 8313 *8213 8312 *8213 83(2
Do pref
8
100 7834 Apr 4 8474 May22
783,1 Nov
93 - Jan .
Los! Sale 155 Apr'08 -- Vermont & Mass---100 1,50 Jun 13 155 Feb 11 14518
Nov 170 Jan
84
84
8313 8334 -8514 -£131-4 8314 8314 83(4 8314
72 West End St
50 '76 Jan 2 8734 Mch31
74
Dec
95
Jan
.
16E4 16614 *100
*101
10113 10112 102 102 *102
30
Do pref
50 96 Jan 2 105 Apr 7
94 Nov 110 Mal
------- _
- Lats Seth 140 Apr'08
Wore Nash & Ruch--100 139 Mch30 140 Mch30 140 Aug. 147 Jan
Miscellaneous
*1913
1913 1912 *1918 ___.
1912 1034 *19
20
20
200 Amer Agricul Chem_ 100 13 Jan 3 2134 May14
10 Oct
26 Jan
86
85
86
85
86
86
88
86
86
85
86
85
Do pref
156
100 77 Mehl] 87 May 9
95 Feb
7212 Nov
7
712
7
758
712 733
714 734
714 712
4 Feb 10
714
713 2.108 Amer Pneu Service.. _50
812 May19
0
312
1434 Jan
Nov
18
1813 18
1834 1834 19
912 Feb 25 21 May19
1814 1812 1814 1812 1812 1812 1,272
Do pre:
50
012 Oct
33 Jan
128 129
12713 129
12813 129
12838 128.18 12714 12838 128
128
1.583 Amer Sugar RefIn _ _ _ 100 9914 Jan 2 13214 May18
t'3 Dec 13714 Feb
127 12712 12612 12712 127 127
126 126
127
126 126
12818
Do pref
190
100 106 Feb 18 129 May16 105 Dec 13134 Jan
11718 11712 117 11712 117 11712 11714 11712 11718 11713 11712 118
4,284 Amer Telep & Teleg_ _ 100 99 Jan 2 12038 Apr 24
8914 Nov 1341
.Jan
2212 2212 *21
2212 22
2113 2112
22
2034 2113 2013 21
540 American Woolen..-- _ 100 16 Jan 2 24 May19
361: Jan
1214 Nov
87
8714 87
8778 8712 8778 8714 88
8734 8814
8713 89
Do pref
576
ion 7734 Feb 19 9013 May18
69
Jan
1021
Oct
*3
334 *3
Last Sale 3
334 *3
Jan'Og
3 Jan 7
334 *3
Land-----3'34
3 Jan 7
I
3 Mob
4 - Jan
110 110 *109 110 *109 110 *109 110 *109 110
108
108
13 Cumheri Telep & TeL 100 9613 Jan 11 11078 Feb 3
9313 Nov 115 Jan
*18
*18
19
19
Last Sale 17
*1714 1734 *1714 1734
May'08 -__ Dominion Iron & Steel_ _
1434 Jan 6 1814 Apr 15
1212 Oct
25 Feb
*512 534 *538 588 *538 538 *538 53s
Last Sale 534
May'08
414 Mch13
East Boston Land
6 May18
312 Oct
914 Jan
214 214
214 214
21313 21312 21312 21312 213 213 *213
____
97 Edison Elec llium_100 201 Mch17 214 Apr 29 185 Nov 230 Jan
13613 13613 133 135
135 136
135
35 135 1 13314 134
13613
223 General Electric-,._ _100 111 Jan 2 141 May18
91
Jan
162
Oct
55
55
5518 55
*5413 5512 55
5478 5478 5414 5414
...3
797 Massachusetts Gas Cos100 49 Mch23 5813 May18
43 Oct
6653 Jan
*84
8438 8434 8418 85
85
8458 8458
85
8478 85
85
Do pref
385
100 77 Jan 2 8713 Apr 22
8612 Apr
75 Nov
19912 19913 *198 200
200 200 *198 200 *198 200 *198
200
7 Mergenthaler Lino....100 192 Apr 16 200 Jan 18 185 Nov 215 Atch
*1(2 3
*112 2
*112 2
*112 2
*112 2
113
112
1 Mch 2
11 Mexican Telephone._ 10
2 Jan 23
434 Jan
114 Dec
*40
*40
50
50
*40
50
*40
50
Last Sale 43
Apr'08
N E Cotton Yarn----100 40 Mch 5 5913 Jan 14
75 Ply
96 Jar
*75
80 *75_ *75 __ _ *75 _ _
*75 _ _ _ _
76
76
Do pref
100 75 Mch23 80 Jan 14
Jan
Oct
80
90
111 112
112 1-1-i 11112 112
87 N E Telephone100 105 Jan 4 119 Jan 20
11112 11112 111 11114 11078 111
96 Nov 126 Jan
159 159
158 15812 15813 159
158 15834 158 15814 158
15812
115 Pullman Co
100 147 Jan 2 16134 Apr 29 137 Nov 182 Jan
934 04 *912 934
*912
93
4
9 Apr 10 10 Feb 21
286 Reece Button-Hole... 10
912 97/3 *912 934
912 912
9 Nov
11 Jan
10113 10214 10112 10178 101 102
10113 10113 *101 10112 101
101
468 Swift & Co
100 8812 Jan 2 10312 May19
7613 Nov 113 Jan
*21
22 *21
22
Last Sale 2013 May'08
22
*21
22
*21
Torrington. Class A
25 20 Jan 3 22 Feb 6
2212 Jan
20 J'ne
*23
25
*23
25
*23
26 *23
25
25
*23
25
25
Do pref
25 23 May22 25 Jan 14
2712 J'ly
2413 Nov
fast Sale 112
*413 134 *112 134
114 Me1323
May'08
Union Cop L'd & M'g_ 25
212 Jan 28
678 Jan
1 Oct
132313 13954
- 138 13813 13812 139
13813 13873 13918 140
13834 139
1,390 United Fruit
100 11413 Jan 2 14313 May15 10113 Oct 120 Dee
5314 5313 5313 5313
5313 5312 5314 5314 5313 54
54
1,400 Un Shoe Mach Corp
25 3812 Jan 4 3512 May 2
Jan
69
36
Oct
*2778 28
2778 28
*2778 28 , 2778 28
*2778 28
28
1,001
Do pref
25 2413 Jan 3 2812 Feb 26
2358 Nov
29 Jan
3634 3818 3678 3738 3658 3758 36
3634 36
3612 36
1:7
37 13
54
21
2UD
S,)Stee
prelfCorp
100 20 Jan 2 3918 May18
5038 Jan
22 Oct
100 10178 10014 10112 101 10212 *10038 10034 10038 10058 10034 10114
8712 Jan 2 10338 May18
7912 Nov 10734 Jan
*618 612
6 *---614 614 *618 612
6
6
618 4.--.
4 Feb 3
800 West Telep & Teleg_ 180
°
8 Jan 31
4 Nov
9 Jan
*66 -- *66
67
66
-66
*66
67
70
Do pref
100 59 Jan 9 70 Jan 16
50 Nov
82 Jan
2712
____
Sale
Last
Apr'08 .-_ Westing
_
1978 Feb 18 2713 Apr 11
Jan
2614
Nov
7812
Last Sale 3478 Feb.08 --_
Do pref
50 3478 Feb 19 3473 Feb 11
76 May 80 Fob
MI:InM
13
212
213
*2
2
212
2
2
2
212 212
*214 212
365 Adventure Con
112 Feb 21
25
3 Jan 18
38 Nov
812 Feb
*26
28
26
26
2712 2713 27
28
27
27
27
27
205 Ailouez
25 24 Apr 23 33i'..Jan 20
20 Oct
7414 Jan
6338 6518 6312 65
6313 6538 6214 6418 6278 6412 6334 6413 27,032 Amalgamated Copper 100 45 Feb 19 6058 May19
4218 Dec 121 Jan
2712
271. 2712 2734 2734 *26
27
27
2814
2713
2712
2813
700 Am Zinc Lead & Sm.._ 25 2034 Jan 13 2834 MayiU
19 Nov
53 Jan
4034 4034 387; 3934 41
3918 4038 4014 4038 91
41
41
550 Anaconda
25 28 Feb 19 4614 May19
26 Oct
75 Feb
4
4
353 338 *312 4
*312 4
*312 4
*312
4
125 Arcadian
25
314 Apr 29
6 Jill' 15
1538 Jan
234
Oct
1814 18
18
*1712 1814
1838 1734 1734 1734 18
620 Arizona Commercial
25 14 'Jan 2 2034 Jan 20
734 Oct
2813 May
*.40
4-511)
-.
12
200 Arnold
12 *.40 .60 4,40 25 .40 Feb 19 .50 May23
.35 Sep
2 Jan
Last Sale .50
Aug'07
Ash Bed
25
112 Jan
12 May
1634 IA; 17 T114 1612 lf1-2 - 51.2 -1-513 16
1612 16
1614 5;aii Atlantic
8 Apr 22 1914 May19
25
613 Oct
22 Feb
*34 1
*34 1
*34 1
.85 .85
14 Apr 29
*34 ---- 4.75 .85
100 Bingham Con Min & s 56
634 Jan 20
418 Dec
37 Jan
.40 .60 4.40 .60 *.40 .60
.40 .40 4..40 .60 *,40
100 Bonanza (Dev Co)
10 .35 Feb 19 .7412 Feb 27 -35 Sep .80 Jan
1212 1234 1158 1238 11
1138 1134 1134 5,921 BostonConC&G (rots) El
1134 1034 1118 11
1014 Apr 13 17 Jan 29
3314 Jan
858 Nov
1514 16
1434 1613 15
1512 1518 1538 6,455 B09 ecCorb Cop & Sil M 5 1114 Apr 14 1613 May21
15
1578 41434 15
__ _
2214 2278 2214 225? 2253 23
23
2312
2318
2213 2212
2314 2,920 Butte Coalition.
15 1513 Jan 2 2514 May14
10
Oct
3918
10918 10912 10812 10934 108 110 107 108 107 10812 10812 10814 510 Calumet & Arizona.-- 10 93 Feb 20 116 Jan 20 89 Oct 198 Jan
Feb
675 680 x663 670
672 672
670 670
672
665 670
872 93 Calumet & Heel». ___- 25 565 Mch 5 700 Jan 15 535 Oct 1000 Feb
• *22
22
23
22
2212 2212 *2214 24
*2214 24
*2214 24
60 centennial
25 21 Feb 10 2814 Jan 15
16 Oct
47 Feb
4.39 .413
.40 .40
.40 .40
.39 .39
.40
.39 .40
.41
1,350 Cons Mercur Gold_ _
1 .25 Mch 6 .41 May19 .25 Oct .52 Jan
7014 7112 6934 7012 70
7013 7012 71
7012 6934 70
7112 4,932 Copper Range Con Co.100 5518 Feb 18 7413 May14
4414 Oct 105 Jan
1013 1012 1013 1012 1014 1012 10 • 10
913 10
*912 1013
250 Daly-West
7 Jan 3 1013 May19
20
712 Dec
2012 Jan
Lan Sale 5113 May'08
Dominion Coal
701. Melt
100 4758 May 4 5113 May 7
40 Oct
Last Salt 96
---May'08
DoRp
iin Elm
f
ivre
er
21(52) 9412 Apr 22 96 May15
100
85 Nov 114 - Jan
--*34
118
*
4.8713
118 .8712
140
.99 Mch 6
413 Jan
'2
Jan
18
NOV
34
812 812
83.3 834
834 834
812 812
813 813
Franklin
612 Apr 22 1012 Jan 27
2914 Mch
6 Oct
*90
95
*90
93
95
*92
91
*91
91
91
91
92
13 Granby Consoltdated..100 80 Jan 2 95 Mch27
65 Oct 151 Feb
912
91,,
913
934
912
933
912, 5,650 Greene-Cananea
914
678 Jan 2 1018 May18
• 914 912
938
20
1758 Apr
514 Oct
Last Sale 238
May'08 ..:1545 Guanajuato Omani
2 Feb 26
5
514 Jan
278 Jan 22
2 Dec
*1914 20
1914 -111.-1 *1014 -2-6" 1873 19
20
1914 1914 *19
8612 Jan
Isle Royale (Copper). 25 1734 Feb 17 2614 Jan 27
Oct
1113
*1412 15
1413 1412 1412 1412 14
1412
14
1334 14
14
i per
Feb
25 1214 Jan 2 1714 Jan 19
Ilp
epCsopp
a
c
as
30
S
s
L
a
m
2
10
8
8
5
Oct
8
*3
312
318 318
314 333
214 Mch 6
314 31 1
314
25
314 314
914 Jan
311
414 Jan 18
238 Nov
.45 .45 4.45 .50 1..40 .50 4,45 .50
4.45 .50 4.45
.50
100 Mayflower
25 .25 Jan 10 .50 Jan 22 .40 Nov
13
4
Jan
*6
612 *6
612
6
6
6
478 Feb 19
6
578 614
534
8 Jan 18
1514 Jan
57
,3 1,298 Mexico Cons M & S.- 10
534 Nov
10
9
10
934 934
*9
914
25
156 Michigan
934 034
914
714 Feb 25 1234 Jan 20
9'4
634 Oct
2412 Jan
5213 54
52
52
5312 5312 53
5312 5312 54
55
53
9612 Jan
25 45 Feb 19 58 Jan 18
37 Oct
738 Mohawk
.60 *50 .60
.so *.50 .60
Last Sale .60 May'08 10-.9541 aNNfoeoerntathd
12 May 6
Montana Consol C & C 10
313 May
133 Jan 24
1 Nov
12
12
1218 1214 1218 1214 *1134 12
12
*1134 12
12
fs
5
eolidated
fiCuofn
858 Jan 2 1334 Mch25
534 Nov
2012 Jan
6234 631- 6212 6334 6234 6414 6134 6314
6414
6212 6313 64
15 4034 Feb 19 6614 May15
30 Oct 120 Jan
4.51) .95 4..50 .95 4.50 .95
*,50 .95
Last Sale .50 May'08
25 .50 Jan 15 .85 Apr 21
13 Sep
212 Jan
ld
3514 35
35
35
3434 3514 3314 34
3314 34
3334 34
ginnyon
o
ai
25 28 Jan 2 40 Jan 25
o
Clo
1
68 °
0 D
1.3
-i8
63 Feb
18 Oct
88
89
88
88
88
88
87
92
87
*89
89
90
25 77 Feb 19 95 May14
71 Oct 181 Feb
211 211. 21 • 2114 21
21
2034 21
2031
420 parrot (Silver & Copp) 10 1012 Jan 11 23 May14
2014 2°12 *20
834 Oct , 35 Jan
4.50' .95 *.50 .95 *.50 .95 ' *.50
.95
Last Sale 12
Meh'08 -_8z Phoenix Consolidated 25
12 51ch11
12 Dec
e3 Jan
114 Jan 25
x82
89
80
*84
8213 821. 82
8212 83
*84
83
_
25 77 Feb 19 9312.1811 15
Quincy
70 Oct 148 Feb
3
3
314 314 *3
314 314
3
2 Mch20
3
312
Island
3
3
25
235
Rhode
2
Oct
412
20
Jan
Jan
e1234
2
2
*2
214
*2
21.1
218 218
2
2
2
2
158 Apr 3
560 Santa Fe (Gold & Cop) 10
258 Jan 20
712 Jan
112 Nov
. 1318 1312 1318 1312 13
.1314 131
1338 1313 1312 1338 1312 3,239 Shannon
10
934 Feb 19 1434 May18
Oct
243
718
3
Jan
18
*17
*1712 18
*17
18
17
17
17
17
1714 17
145 Superior
25 14 Apr 3 1912 May 2
58
60
58
*57
(50
58
*57
58
60
62
*59
60
25 56 Meh20 77 Jetzt 20
arack
roty
ar
89
20
9 Tr
51 Oct 170 Jan:
1313 1358 1314 1314 1312 14
1338 1312 1314 1312 1313 1334
25 1218 Feb 19 1834 Jan 14
938 Nov
4214 Jan
712
77
*714 712 *714 734
718
7
7
*7
718 *678
458 lich24
225 United Copper
100
812 Jan 8
7 Dec
7714 Mch
Last Sale 2134 Fela'08
2334 Apr 16 26 Jan 3
100
22 Oct
91 May
2334 2413 23582333 2313 2312 23
2812 2314 24
2334, 2478 1,566 Cni
9 Mch31 25,
eftesCoal&011 25
Srta
ptoed9
712 Nov
s May22
1314 Jan
39
39
3714 3712 3714 3734 3713 3714 37
37
37
3714 1,322 (7 S Smelt Ref & Min_ 51) 28 51ch 6 3913 May14
2434 Oct
70 Jan
42
4212 4113 4112 41
413,1 4114 4112 4113 4112 4114 4112 1,111
Do pref
50 37 Feb 10 4314 May18
2778 Oct
49 Jan
4114 4112 41
4112 3978 405s 40
4113 91
4013 4014 4013 3.973 into,Consolki tad_ _ 5 2912 Jan 3 4312 May15
2312 Oct
79 Jan
31
3137 *31
3113 3114 3114 31
311: *3013 31
10 2878 May 8 33 May19
630 Utah Copper Co__
434 434
434 5
512 VI
5
6
5 • 513
.
5r4 63-4 6,179 Victoria
217. Apr 16
25
6 May26
114 Feb
312 Oct
Last Sale 1.063iJuly'07 --- Washington
.45
313 Allah
1 May
*5 --(;- *514 8
Last Sale 513
.
- 514
May'08
412 Jan 2 0334 Feb 7
25
14 Jan
e212 Nov
*133 1138
135 • 135 *133 1341. 132 134
133 133'*130
132'
a
ine
137
25
n
r
W
115;2.Inn
o
tIv°e
'2 138 May15
93 Oct 19$ Feb
3.
4.3.
In
1,
11, *1
3.. 4.3
1.
11,.
1
35 Wyandot
__ 25 .50 May25 1.881., Sin 79
.10 Nov 354 Jae
C a.:ture pay't orassess'ts called I 1 1907. * Bid and asked prices. d 'Yew stank. e A-ss't paid, n lix-rtgats.
r.;S-dIV, aaa rtgats.
a r.:1-er,,,oxUIV
14
934
Boston Bond Reoord,
ATAY 30/908.1
— .
1144a Dr,
- :L..
BOSTON STOCK EXCHIGE t,t
WitaK ENDING MAY 29
4a•
Am Bell Telephone 40.-.1908 J -.I
aan Teton & Tel coil tr 4a-19'26 J-J
1936 M.S
Convertible 46.
Ani Writ Paper let8[beg 1919 J -J
Atcn Top & ii Fe gen g 45 1995 A.0
Adjustment g 46.....Ply 1995 Nov
Ply 1996 31-N
Stamped
Boston 1,1140m, Light lat 60.1908 Ni. la
1914 N.S
Consul be
1916 J -J
Bomon & Lowell 48
1944 ,j...1
/
4s
Boston ao Maine 41
1
48 1947 F -A
Boatels Teruumil lst 3/
1918 J - J
Bur & AIo Itiv ex es
1918 J - J
Non-exempt 68
Slukuig mild 48
1910 J -J
Butte do Boston let 6s
1017 A-0
Cotter Rap & Molt 1446 196
81-3
1900 J.
241 78
Cent Vomit,1st g 46..11ay1920 Q.r
LOWS
50
Div let
0 13 & Q
1919 A-0
Iowa Div 1st 4s
1019 A 0
Debenture Os
1,114 iv.-N
Denver Exton 46
191" F -A
Nebraska Eaten 4s
19:17 ar-N
BdoSWat414
1921 44-8
Illinois Inv 3,211
19.4.9 J.J
Joint bonds See (It Northern
Ohio J o Ity ii:o Stic Yds ein .1015 J •J
Cell trust refunding g 4,41940 A-0
Ch 3111 & SIP Dub 0 68_1920 J -J
Oh M db St P Wes V thy tlel610 J _J
Chic do No *ion 1st gu 50.1031 M-N
Chic db W Mich gen 66
1921 J -D
Concord 46 Mant cons 44_1920 J -D
Conn & Pass it let g 44-1943 A-0
Current River lstlIs
1927 A-0
Pet Or hap & W let 46 1944 A•0
Dominion Coal 1st a f 56 1940 NI.N
190e 14.4.7i
Fitoliburg 58
4s
1915 1M-S
1927 51-8
48
Frew Elk & Mo Viet 66-1933 A-0
1933 A-0
Unetaniped 181 tis
at Nor C Id do 44 cull tr 481921 .1 •.1
1021 Q-J
Registered 48
Range
Week's
",i
eines
Range or F, a
Last Sala cc-- January I
Price
Pride',
May 29
1335
t
IIONDs
••• 1:,
to...
BOSTON STOCK EXCH'GE t. t
Witiut ENDING MAY 29
Week's
''t
Range or
ma..
Last Sate •', Jantuu•
Price
Pridose
May 29
.5,a.
how High
Bid
Ask bow
IIto h .Vo to, 1,
Mame Steel deben 5s....1910 J -J
98%
981
/
4104)
981
/
4 t.
/
2 Mar1)8 .... 971
Non-canvert deben 58_1913 A.0 97
781
/
4 8634
981
I.
/
4 98
2 05
98
117 Apr'O• .... 117 11780; 86% la Falls &mons Clst 74..1017 A-0
¶78'17s34 !LIU 0 Clin & Spr 181. 5s. .1925 A-0
96 Mar'08 -. 90
11
Kan
C
Ft
8
&
7E1_1908
Gull
lat
101
J -D 101 Sale
101
PIPs 9014
07
08
25 100 lo
95 1197
Kan C Ft Scott & M 68—.1928 11,4-N 116 116% 116/
86
1
2May'08 ..., 1091
90
/
211 414
Kan C M & 14 gen 4a
1034 -8 88
91
91
86
99
7 *71
/
4 9
Assented income 58
1934 M.B
88', Mai'08 .... 8812 68¼
89
Kan C & Al By do lir lat 561919 A-0
90 May'147 .... ...... _
110 Fea'114 .
Maine Cent cons 1st 7e..1912 A-0
113% Nov'06 ... ........
101 Sep'06.
Cons let 4e.
1012 A-0
1011
/
4Sep '05 .... ........,
114 Mar'06 Marq Hough& Ont 1st 66.1926 A-0
1111.2J an'03 .
118 310004 .. ....
Mexican Central cons 48..1911 J-J
-ri
104 Oct'07.
23 74
1185
84
1st
eons
ine Ss
Jan 1939 rly
I11.6 Apr'OS .... 1116 Ill
102 103 102 Sep'05
97
241 COMM inc 38
99,.Jan 1939 .Ply
¶15'4 Apr'08 .... 1115/
2 Apr'08
98,
1
4 111
Mich Teleplat 5s
1917 J- j
100 J'ne'01 .
Rhine Gen Elec con g 56 1W29 J -J
1021
/
4 A ng'04 ,... .
123,4 Noy'06 .
117
.. ..
New Eng Cot Yarn 54 .1920 F-A
1i7 May'08 .... ...93
111,4,Ply'05 .
9
97
4 New Eng Teleph ds
80,
79',
1 76
/
4
1908 A-0
791
10() Feb'08 .... 100 1410
79,2
68
1016 A-0
7103 Oct'07
1(40', Jan '07... . ........
98 Oct'07
55.
1910 A-0
New Enwland GOtil g 58.. 1945 J -J
100 Apr108 .... 10C1 100
Isoston Term 1st 4s
97% l'is e'417 .... _....
19311 A-0
98% Apr'08 ... 9 3
3 N Y N II& H con deb 3,
281056 J -J
1187 May08 ... 791
/
4 *
/
4May'01 .............Old Colony gold 4s
071
1924 F-A
101 12Sep'06 .... ...... ..
Oreg Sty eib Nay con g 4s. 1946 J -D
'1189 May'08 .... 86 189
110276 Jan '115 ... ...... ..
Oreg Sli Line 1st g tis
1922 F-A
1121% Mar'00 .... ...... ..
/
4 2 99 1021
/
4 Ropub Valley 1st 6 1 66 1919 J - J . ---..
/
4 1021
1021
1021
/
4
- 102 Aug'07 ... ....... ..
/
4314M. ... 86
881
881
/
4 Rutland 1st con gen 4,
26 1941 J -J
89
1071
/
4 Nov'05 .... ...... ..
Rutland-Canadien 1st 481949 J -J
122 Apr'06
102 Mai'02 ..... ...... ..
126 ren'05
Savannah Elec 1stcons 56 1952 J.J
981
/
2May'06 ..
96 Apr'08
96
95
Seatale Eleo lat g 56
1930 F-A
/
4 14,
100,2 May'08 ... 1001
104)
148 100
1 0'7 100
Terre Haute Eleo g 6i1
1929 J -4/
97 Apr'07 .... .........
/
4 91 Deo'07 .... ......
99 1001
Torrington 1st E55
1918 M-S
991
/
4 Nov'06 ....
- ,.
/
4 Jan '03
1121
Union Pao RR & 1 gr g48 1947 J•J
¶99% Feb.0: .... 0
-9767
104 Nov'06
20-year cony 4,44
19'27 7- J
.
Ill May'08
' 81 76
8176 1 80
81% Uniten Fruit conv gen 5E4 1911 ALS
116 Jan '08. .. 116 11
90 Feb'08
90
90
U S Steel Corp 117-60 yr 5s 11163 21-1,
1
110576 11961
/
4 Id 1181.1 Ti
98 Apr'07
West End Street Hy 4a
1915 F-A
961
/
4 Feb.08 .... 961
/
4 1
1031
/
2Api'06
1914 U.S
1
401
Geld 4/
95 .Noy'07 .... .
96 Apelk,
96
Groin deoenture 46
96
1916 kt•N
10236Jan -041 .... ...... ..
. . 1181
/
4 Apr'08
128 1281
Gold 4e.....
/
4
1917 FA
99', AI ay'07 .... .. .
140 Apr'05
Western Teleph & Tel 5..1931 J -.I
921
/
4 94 May'08 .... .7-9.. - t.
941
/
4 95
9434
95
27 921
/
4797% Wisconsin Cent 1st gen 461949 J.J.
11941
/
4Sep'05 .... ........
941
/
4
94 May'08
967 Wtsconsin Valley 181, 70_19014 J -J
92
1096e Aug'05 .... ...... ..
Ask
But
100
883 8ale
851
/
4 Sale
High 8..o
Low
400 miirog
86.44 337
83
85 k. • IS.:
/
2
841
¶734 Mar'08
99 May'Os ....
1187 Apela. ....
8534 rne'07 .
Nara—Buyer pays accrued interest in addition to the pure utse price for all Boston Bonds. - No pnoe Friday; latest bid and asked.
.11 fiat prim.
Philadelphia and Baltimore Stook Exchanges—Stock Record, Daily, Weekly, Yearly
Share PrIctex—Not Per Cerium Pekoes
Saturday
May 23
Poeta,/
May 25
2 uesuau
-.Way 26
Wednese ay
.May 17
l'hureffity
May 28
90
90
811
89
83
•6
/
4 *6
-6
71
/
4
/
4 121
/
4•
•111
12¼ .111
/
4 •10
•1056 1(814
.101
101
/
4 14)1
/
4 101
/
4 •10',
•20
/
4
•721
/
4
*861
•ti
•12
101
/
4 .10
89
/
4
•441
30%
10
'4
*211
/
4
44% 44% 44% 44% 44% 44% 44%
341% 30%
3v%
/
4
/
4 30', 301
301
/
4 301
10
10
10
10
10
10
It)
/
4 -4
44, -4
41
/
4 •4
41
4%,
22.4
22
22% 22% •202 221
/
4 •22
6,
2 •51
6
5
5
/
4 61
5
/
4
87
881
87
/
4 87
88
*881
87
/
4 89
1
4
61% 60% 61
61
604 411 /
604 61
1,2 14.
11
/
4 1%
5936 30', 5111314601114 59,2 51/76 59', 61)
39
391
/
4 39
391
/
4 •39
g9
39% 39
81
/
4 8316
8% 8%
81
/
4 8%
81
/
4 8%
1474 15
14% 14% 14% 14%
/
4
/
4 151
141
541
/
4 50/
1
4 547,551.i,
55393 66hti 55% 597
4'2
42
42
•411
/
4 42
42
42
42
42
42 42116 42
/
4 51,
/
2 511
4
811
50,
4 501
/
4 501
/
4 511
/
4 5134 511
/
4 51
831
/
4 831
/
4
/
4
831
/
4 84
831
/
4 83% 831
/
4 83% 83% 841
•22
•22
44%
$0%
10
•4
•211
/
4
5%
87
601
/
4
1/
1
4
591114
39 4,
8%
14%
55%
44%
30 Al
10',
41
/
4
1
4
2 /
5%
86
el%
11
/
4
601
/
4
39,
2
83e
151
/
4
56%
• Pll I LA DELP1.11A
Bid
Ask
Inactive Stocks
Allegheny Val pref....50
50 33
American Cement
100
Amer Pipe Mfg
Bell Telei.hone (Pa).100
oU 45
Cambria Iron
Central Coal be Coke.100
Consul Trac of N J...100 71
Diamond State Steel..10
117
Preferred
Easton Con Electric 8.5
/
4
Elea Storage Batt....100 801
/
4 311
1
Preferred
100
rt Wayne &W V
50
Germantown Pass
100
Indianapolis St
Indiana Unton Tr....l00
1134
Insurance Co of N A-10 21
Inter Sm Pow do Cheen.5
5
6
Keystone Telephone ..50
Preterred
50 25
KeystoneWateliCase.100
Lit Brothers
10
Little Schuylkill
50
Minehill & Sehuyl II..50 50
N Haven Iron & Stee1.5
Northern Central
50
North Pennsylvania..50
Pennsylvania Salt
50 100 1001
/
4
Pennsylvania *14911-100
Preferred
104) 97
PhiLa Co(Pine) pref...54) 41
411
/
4
Phil German & Norris.50
Phil& Traction
50 89
90
Railway-. General
10
Susqueit Iron dio Steel..*
. Mho wa,er Steel
10
Pr •1*.rred
10
77
Tonopah Mining of Neyl
8%
Union Tr of Ind
100
United N J RR do C 100
Unit Trao Pitts pret..60
Warwick Iron& Bleel.10
61
/
4 64
Weat Jeniey & 843a Sh.5(
491
/
4
We6tinorcland Coal....50
WIlkom Gam at Tgloc 100
Rates
ACTIVE STOCKS
ol the
Weak ()nor Bonds and Inactive
stocks sea below)
Shares
25
75
89
61
/
4
12½
/
4
101
Baltimore
Con. Gas EL L.& Pow.100
Do 'met
100
48 Northern Central
50
Seaboard(new)
100
Do 20 pref
100
United
Ey Ai Electric 50
50
Philadelphia
50
202 American Railways
4.436 44%
50
34.4% 307 2,900 Cambria Steel.
2.712 Electric Co of America lla
10
16
100
Gen Asphalt tr Otis
5
•4
100
Do pref tr ctfa
4
.21
22
100
51
/
4 5,
2 1,335 Lake Superior Corp
769 Lenigh C & Nav tr °Us 50
88
87
50
/
4 6,682 Lehigh, Valley
611
/
4 611
100
247 Marsden Oo
11
/
4 1 1.
59% 597 1,920 Pennsylvania itit
50
39
39
282 Pldiadelp'aCo(Pinso) 50
Mit 811,3 3,180 Philadelphia Eloctrict 25
14% 14% 12.108 Plilla Raphi'rransitot 50
5,
,
,,.455iiie 69,083 Reaming
50
•43
20
Do 1st pref
44
50
41916 9191
Do 2tI met
71
50
/
4 3,197 Union Traction
511
51
50
83', 841
/
4 2,263 United Gas Impt
50
25
•22
.. . Welnhach Co
100
PHILADELPHIA
Bonds
Al Val E ext 76 1910 A-0
Alt &LVEleo 41
/
46'33.F-A
Am Rya cony 541 1911.J-D
Atl City it S.g'19.31-N
Bails'Ibr 1st 58 1926.J.1)
Berg& EBrw lst60'21 J-J
Bethle Steel es 1998 Q-F
Choo& Ito 1st58 1949 J4
Ch Ok db G gen Os'19 J-J
Col St My 1st con 56 1932
Con Trao of NJ let 53.'33
Edo A let M 5s 1920 M.N
Elec & Pao Tr etk tr ctfa
Eq It Gsa-Llst g 56 1928
11 A, B Top oon 56'25 A.0
Indianapolis My 44.1933
Interstate 48 1943 ..F-A
Lehigh Nay 4,
2a '14.Q-J
It-Its 4s g
1914.44-1
,
/
4s g.1924.Q.F
Gen 18 41
Leh V C let 58 g '33. j-J
Leh V eat 48 lat1948.J-D
2d 7s 1910
MConsol es 1923
J-D
Annuity (Is
J 1)
Gen cons 4s 2003.51.N
Leh V Tram con 4s'35J.
New Con Gas5,41948 J-D
Newark Pass con 681930
NY Phdo No lst4s'39 J.J
Income 4s 1939...M.37
NoOhloTraocou5e'19.J4
Penn gen de r 1910-V
Cense' be r 1919 .Var
Penn & 1,01 Steel con 6a.
Pa & NY Can 56'39.A.0
A-0
Con 4s 1939
Penn Steel let 56'17 3I-N
People's Tr tr°ens 45'43
P Co 1st& col tr 5s,49 51.8
Con& cot tr 5e 1951.19-N
Phil Elea gold trust ate
Trust certifa 48
P& E gen M 6 g'20.A.-0
Gen M 46 g 1910 A&O
Bid anti 168ked1 no sales on this day. V If.x.riglita.
Priday
May 29
Bid
.Ask
PHILADELPHIA
8/4
Ban ge Since
.Tan 1 15108
Lowest
20
65'
80
4
10
10
Jan 15
Mar26
Jan 2
Feu 11
Feb Is
Jan 8
42% Mar 9
267
,Feb 10
8',Jan 25
31
/
4 Jan 9
1974Jan
3% Feb29
781
/
4 Jan 2,
52% Feb19
18,0 J an 20
54 15 Jan1
341
/
4 Mar 3
51
/
4 Feb27
1376 Jan 22
46316 Feb 17
39 Jan 3
37 12Jan 2
4j7 Mar 5
6Jan
73,
Ask
Ph & Read 28 5a '33.A.0
Con Id 70 1911
J-D 110.. lio
1051
/
4
Con IA 6smg 1911.. J-D
92
96
Ex Imp
40 g'47.A-0 991
98
146
/
4
Terminal 56 g 1941.4-F
P W & 11 col tr 46'21, J-J
Portland Sty 1st Os 1930.
Roch Ey& Leon 55'51.14
971
110
/
4
U Tree Ind gen 50'19.J-J
108:
/
4 Un liya Ti- etre 48'49J &J
69
1(45 1051
United Rya Inv 1st colltr
a 5s 11426
73
731
105%
/
4
.M-N
U Trao Pit gen 58'97 J-.1 105 106
73
Welabach s f 56 1930.2.1) 72
92
Wilts-B GAR con54'53J-J
BALTIMORE
Inactive Steck.,
/
4 Ala eene Coal& Iron 100 24
87¼ 381
Pref
So
100 69
Atlanta& Charlotte 100
At-Lisa Coast Line 1(11.100
108% iOU
Aden Coast L (Conn)100
'220
Canton Co
100
106
Cons Cot Duck Corp...50
118 120
Preferred
50
Georgia Sou be Fin...100
931
/
4 93%
100 80
let prof
prof
100
2d
S Brewing
100
/
4
41
1013%
Bends
Anacostia be Pot 56
Atl & Ch est 41
/
4s '10.J-J
9912
Anal' C L lt Ii401052M-S 921
/
4 93
104 105
Atl Coast L(Ct)ctfe 5e J-D
Ctrs of intlebt 44. .J.J
5-20 yr 4a 1925
J-J 80
Balt C Pass 11458'11 M-51 1011
/
4
Salt IfUntig 56.1916 3.1-N
Exchange 31
/
46 1030 J-J
97
los 1031
108
/
4 Balt& 1''stilton 1'11 A954 9534 Balt Tram let 55..'29 M.
/
4
No Balt Div 5141942.T.D
100 14101
701
/
4 Cent'l Sty cou5s11132 M-N
70
Eat& Imp 56.1932 ICS
111041 Chars C•itylty lst540,3J-J 103
47.64) paid.. t •12
t $10 }mud. / $33 paul. a Reompta. 8
Bighest
Range 1or Previous
Year(14W?)
Lowest
igh est
171
/
4 May13 38¼ Jan
76 Apr23 80 May
90,
4 Sley21 7812Nov
7 )la -l8 10 Nov
13 May18 24 Dec
11% Mar/
81
/
4 Oct
35 .Jan
85 Jan
97 Jan
231
/
4 Jan
48 Jan
15 J'ne
44% Apr24 43¼ Dec 51 Jan
3Os May19 22 Oct 471
/
4 Jan
101
/
4 May 9
7% oat 11% Jan
5 Jan 20
3 Oct
4,1 Jan
25 Jan 18 13% Nov 56 Jan
91
/
4 &pi lo
4 Dec 16 Jan
92 MayPJ 69 Oct 103. Jan
631
/
45layla 481
/
4 Oct 7744 -Jan
278 Apr24
% Nov
ii', Jan
61 May19 z52 Nov 70,116•J an
411
/
4 Apr24 33% Nov 481
/
4Jau
874 M-ay
6416 Nov
51 :Apt
18% Marli• 412 Nov 4261
/
2 May
59% May18 35% Oct tWe,,. Jan
42 Jan 20 361
/
4 Nov 45% Jan
43 May18 321
/
4 Oct 47 Jan
561
/
4 Apr23 41% No, 60% Jan
871
/
4 May 8 661
/
4 Oct 961
/
2Jan
...
15 May 30 Feb
BALTIMORE
Bid
Chas Hy G & El 5a'99 3.1-8
Charl C& A ext 56.'09 J-J
241 76
1910 A-0
City& sub 1st 58. 22 J-D
City be Sub( Waa)lst58'48
Coal & 1 Sty lot 5s'20E-A
Col&Grny 1st 641.1916J-J
Consul Gas 60. .1910 J-D
58
1930 J-1)
Ga db Ala 1st con 56'45J -J
Ga Car &N 1st g'29J-J
Georgia? let 6e...'22 J-J
GaSodo Fla 1st 56 1945J-J
G-11-S Brew 3-4s 195151-S
28 income 5s 1951 51-14
K nosy'frac let Os'28A-0
LakeR El let gu54'42141-8
Macon Ry&LtIst56.514-J
Memphis St tat 56'45 J-J
MetSt( Waah)16t58'15F A
Mt Ver Cot Duck let Os.
Npt N&O Plat 56'38 31-N
General 56—.1941 51-8
Norfolk St 1st 58'44-J-J
North Cent 4,9s 1928 A-0
Series A as 1926....J-J
Series B Is 1926....J4
Pitt 17u Trac Sc 1997.J.J
Poto Val let Sc 1941-J•J
Say Fla be West56'34 A-0
Seaboard A,L 46 1950 A-0
Scab be Roan 58 1926..T-J
South Bound let 58..A.0
UEI L&P 1st41
/
48'29 M-N
Un Ry& El lat 48'49 51.8
Income 4e 1949
1D
Funding Os 1936....T.D
Va Mid 2d. ser 66'11.11-3
3d series 6. 1916. 31-8
4th ser 3.4-54 1921.11-8
5th series 5.
Mae
Va (State) 3a new '32..14
Fund debt1.3s 1991.33
West N C conem1914 J-J
dor'l 1 .7-3
WeaVaC&P
Wit & Weld 5s 1985...T..1
871
/
4
1021
/
4
*25 veld.
e $30 paid.
Ask
110
100,2
1081
/
4
104,
4
9636
981
/
4
110
1031
/
4
43
131
/
4
101
108',
9
901
/
4
107
731
/
4
110
11634
1)9
431
/
4
141
/
4
7334
51%
lull
9:4
86
851
/
4
51%
79,
4
99
85%
52
791
/
4
106
103
......
d 4142 4g paid,
THE CHRONICLE
1336
larxxvi.
inuestment and Alailroad $utelilt z ce.
RAILROAD GROSS EARNINGS.
The following table shows'the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period.
The returns of the street railways are brought together separately on a subsequent page.
Latest Gross Earntnos.
Week or
Month.
ROADS.
Current
Year.
Previous
Year.
• Current
Year.
ROADS.
Previous
Year.
$
3
5
i
Ala Great Southern -See Sout hem Rail way.
Ala N 0 & Tex Pac.
208,301 211E141 2,504,012 2,561,461
N 0 & N East-t April
112,954 137.548 1,312,778 1.3030.91
Ala & Vleksb___r April
99,043 136,834 1,275,613 1,319,001
Vicks Sti & Pac_r April
4,810
3,877
35,422
35,77(
Ala Tenn & North_ _ starch
7,365,388 3,494,368 77,571,762 77,887,33(
k Atch Top & S Fe_ April
Atlanta Birm & Atl March ___.: 133,659 142,066 1,357,764 1,158,749
2,266,534 2,444,409 22,149,747 22,401,741
Atlantic Coast Lint April
5,024,785 7,107,670 63,080,036 37,076,08E
Baltimore & Ohio_ _ April
288,380 325,122 2,239.438 2,378,015
Bangor & Aroostook March
4,679
4,530
51,307
48,913€
Bellefonte Central _ April
2,883,615
30,154,191
Boston & Maine- - ,daroli
3,733
3,323
•
40,258
Bridgeton & Saco F. ;larch
35,514
Miff Roch & Pitts_ _ 3(1. wk May 123,465 188,645 7,613,773 7,456,586
Buffalo & Susq__ _ March_._ 189,262 154,746 1,647,802 1,346,265
Canadian Northern_ 3(1 Wk "ay 155,900 201,100 8,145,900 0,210,800
Canadian Pacilic___ 3(1 wk May 1,255,000 1,547,000 64,055,768 133,119,677
Oentral of Georgia_ _ 3d wk May 158,200 217,700 10,333,871 10,984,215
2,271,591 2,335,095 22,042,721 21,784,662
Central of N Jersey_ Xpril
3,839
1,384
Chattanooga South_ 3E1 wk May
1,718,852' 2,209,821 22,102,218 20,975-,241
Chesapeake & Ohio_ April
0,503
50,767
7,100
39,132
Chesterfield & Lane March
1,053,072 1,012,497 9,495,662 9,602,0512
Chic dc Alton Ry__Ir March _•
80,750,238
6,255,194
& Qulncyr
Chic
wit May 133,319 165,758 7,218,642 7,981,76.1
MarchChic Great West_ -1 311
87,825 115,931 4,611,864 5,302,601
Chic Ind & Lonisv_ 3d wk May
Mite Ind 6: Southern -See New York Cen tral.
4,777,616 5,035,811 44,189,591 45,746,39f
Chic Milw & St Pau, March
4,406,279 5,410.595 .33,959,687 57,131,41(
Chic & North West_ April
934,771 1,183,144 11,032,480 11,827,511
Cho St P M &O.. _ r April..
33,919 1,462,520 1,467,131
31,224
Chic Term Tran RR 2d wk May
6,246,609
552.606
Cln Ham & Dayt__r larch
Oin N 0 & Texas P -See Sout hem Rail way.
Cincinnati Northern -See New York Cen tral.
. .
Clev Cln Chic & St L -See New York Cen tral.
142,708 186,088 1,727,036 1,859,331
Colorado Midiand_r March
h Col & South Sys-r 3d wk May 253,375 295,313 12,969.425 11,891,892
205,533
28,384
24,929
210,694
Col Newb & Laur__ February
612,816
69,114
595,68(
56,866
Sfarck,
Copper Range
107,970,
18,891
182,831
., 5,750
April
Cornwall _
222,491
38,015
320,371
18,832
Cornwall & Lebanon February _
209,758 208,973 1,720,385 1,578,863
April
Cuba Railroad
1,512,865 1,571,844 15,156,408 13,423„532
1 Delaware & Huth_ March
•
25,359,669
2,414135
Del Lack & West_ _r March
Denver & Rio Gr__r 3d wk May 345,300 404.400 18,295,971 18,366,884
25.692 1,060,736 1451.362
22,856
Detroit & Mackinac 3d. wit: May
87,039 3,533,703 3.820,372
00,038
Det Tot & Iront Sys 3(1 wk May
5,487,430
91,842
Dui & Iron Range_r April
93,391 , 68,021 2,693,456 2,826-,871
DulSoSh4Atlr 3(1 wk May
38,179,385
1,560,961
3,768,160
39.462,811
March
,
Erie'
Evansville & Ter H -See neck Island 'S Ystem •
. 13,722
14,196
1,649
Fairchild & N E'n_ _ March......1,699
649,247
.
843,46-1
66,021
66,886
April
Glov
Fonda Johns Jr
212,095 • 224.4.80 2,536,332 2,573,711
Georgia Railroad_ _ April
.
.
-.
Georgia South & Fla -See Soul hern.Rall war. •
853,059 37,349,580 38,550,071
713,682
Apr
wit
3d
Syst_
Grand Trunk
99,904 5,278,374 5.236,831
81,154
Gr Trunk West_ _ 2d wk May
24,439 1,518,099 1.568.,834
25,617
Det Gr Hay & Mil 2d wk May
28,659 . 29,087 '1,704,137 1,687,031
Canada Atlantic_ 2d wk May
--,- 3,437'375 4,923,505 17,582,650 45,142,391
Great Northern Syst
46,068 1,876,336 2,169,822
28,619
wk May
AprilGulf & Ship Island. 2d
• 446,480 425.455 4,842,940 4,950,231
March
Hocking Valley
3,884,587 1,741.286 16,050,242 46,865,039
April
Illinois Central_
Inter & Great.North 3d wk May 114,000 108.000 6,226,982 7,970.38(
aInteroeeanic (Alex) 3d wk May 133,363 142,243 ' 6;92(7,364 6,370,220
'59,404 2,708,397 2,818,512
Iowa. Central_...... 3d wk May ., 45,516
Kanawha & Mich_ _ March.._. 141,198 174,219 1.590,504 1.712,814
__.... .632,417 865,095 7,686,252 7,498,252
Kansas City South_
April-New - York.Cen tral.
Lake Erie & Wetit'n -See
• ., •
Lake Shore & AI Sou -See New York Cen tral.
2,903,511) 3,066,462 29,461,368 39,097,471
Lehigh Valley_ -__r April
- 35,265 . 57,80!5, .428..923 1473274
Lexington .& East_ _ April
!
Inc. 201 538
Dee; 23 090
'
March'
Long Island
857,176
,93,293 , 95,031
863.846
Louisiana & Arken_ March ....
Loulav & Nashv_r 3d wk May 748,435 900,102 10,1'821696 12,567,120
1,0,473
147,052
11.260
128,641
Macon & BiriosInem
870,592
6,575,376
AprilMaine Central____r March
6,459
• 5,132 • ,49,954 . ! 63,728
April
Manistique
297,620
31,217
322,209
•35,545
Maryland.& Penn_ _ April _--- ,
,696,018 2,920,902 30,074,969 35,406,127
April
a Mexican Central
a Mexican Internet, Id wk Mey '163,565 179,423 7,433,650 7,482,900
a Mexican'Rallway_ 1st wk Mak ! 139,000 -',158,900 6,824,900 6,438,100
23,840 • 26.878 1,115,735 1406,310
a Mexican Southern 1st wk May
,..
-See New York Cen tral.
Michigan Central
87,691
61,3'73
916,279 -‘058,573
.:-!!.._
Midland Valley...._
16,411
716,286
14.853
6174.364
wk May
AprilMineral Range..___r 3d.
70,875 3,451..722 3,4013.,3411
..50.3,30
3d wk 1May
Mirineap Jr St L_
Minn:St P Jr S S M_ 3(1 wkAiey ',..178,492 243,919 10,40.1,541 11,122,560
Mo Kansas Jr Texas March'___ 1;785.601 2,166377 18,547,153 19,772,063
May 728,000 • 833,000 39,177,188 41,1311,254
Mo Pao8c Iron Mt.° 3c1 wk:
Centrist Branch _ o 3d wk May • .30,900 • 39,000 1,388,000 1,468,000
Totaloystem___o 3d wk May , 758,00f 113,000 40,565,188 43,070.254
& K•C Wit May 3_,,r, - 21,615 z, 31,433 1,21,495 1)228,370
u
b Mobtlack
224,8gg 1,139,918 „8,41 ,619 8,371,888
.
March
March.
.Nashy• qhatt Jr t L ad
wk
279.0
;388,184 14,03 1161 13;899,707
of MexiCe
N'et
16,104 - 19,633 - 879,565 -883 653
Hidalgo & N E_ _ 3(1 wk gar
6.115 ." 301,160 ' 233.073
a.6'08
Nevadorai-orerron Id wk. itrsiv
Week or
Month.
Current
Year.
July 1 to Latest Data.
Previous
Year.
Current
ear.
Previous
Year.
-. 7,116,622 7,814,163 71,236,816 70,999,311
N Y C Jr Hud River March
Lake Shore & M S March -__- 3,289,041 3,700,604 32,521,300 32,366,418
Lake Erie & West Starch
-- 355,180 405,399 3,656,407 3,879,500
266,847 271,456 2,260,043 1,920,423
Chic Ind & South March ___ _
2,081,381 2,350,704 20,537,036 20,374,961
Michigan Central. March _
1,911,079 2,014,521 19,514,679 18,896,965
Cleve C C Jr St L. March
Peoria & Eastern March - - 210,935 231,870 2,242,758 2,296,700
774,025
703,094
76,586
71,546
Cinicn North_ _ _ March _
Pitts & Lake Erie March - - 779,612 1,077,047 9,874,808 10,025,848
March ____ 208,995 221,901 2,233.500 2,125,178
Rutland
NY Chic Jr'St L. March -- 889,840 058,685 7,716.,497 7,599,505
March ____ 17181978 19123026 172396998 17175943(3
Total all lines_
56,672
57,781
6,540
4,83.3
Nevada Central_ __ _ March ____
665,358 707,503 6,688,459 0,781,044
N Y Ont & Western X pri1
10,410,628
N YNH& Hart--i Aarch _ _ 3,874,618
249,890 274,933 2,503,799 2,270,305
N Y Susq Jr West_ _ March
2,059,373 2,777,454 22,808,735 22,861,176
Norfolk & Western_ March
899,910 1,011,910 9,504,779 9,178,370
Northern Central_ _ Starch
April
5,098,666 6,268,326 58,794,287 55,861,628.
Northern Pacific
_ 453,811 637,856 5,040,436 5,383,889
Pacific Coast Co_-_ March
34,348,302
2,930,174
Pennsylvania Co..r March
_ 10997 169 13166 969 117040 882 11561(Mii
d Penn-East P Jr E March
Dec.1,118, ago
d West of P Jr E. March _-- Dec.1,36 0,200
10,590,957
_ 1,142,174
Pere Marquette__ _r %larch
Mita Bait Jr Wash _ March - -- - 1,285,807 1,362,707 12,755,001 12,281,201
Pitts Cin OhIc Jr St L Sinn
1,888,318 2,747,674 24,250,220 25,655,321
Pitts Jr Lake Erie -See New York Cen tral.
102,495
82,238
9,334
10,844
Raleigh& Southport April - - Reading Company_ Nod
3,289,977 3,998,069 35,425,498 35,541,648
Coal Jr Iron Co_ APrl
4,453,707 1,121,379 32,861,571 32,010,461
Total both cos.__ APii
7,723,681 8,119,448 68,287,068 137,552,11G
Rich Fred Jr Potom \larch
147,487 171,085 1,424.197 1,360,224
561,508
569,629
58,485
Rio Grande June_ _ _ February _
41,391
537,172
538,533
11,819
Rio Grande South.. 3d wk May
11,6.87
Rdck Island System March -_- - 1,904,292 5,270,090 15,950,184 44,644.148
e St L Jr San Fran March - - - - 3,874,887 4,394,521 37,204,843 30,926,494
Evansv Jr Ter H March
187,966 175,761 1,725,436 1,726,684
Total of all lines_ Starch _ _ - _ 3.987,146 0,840,072 34,943,465 83,297,328
Rupand
-See New York Con tral.
St Joseph Jr Gr Isl_ _ March _ - 1313,512 142,409 1,242,037 1,302,857
St Louis Jr San Fran -See Rock Island S ystem.
St Louts Siouthw_ _r 3d wit May 155,625 197,636 8,675,600 9,160,913
Seaboard Air Line_ March _ _ - _ r1444,596 o1615557 r 12008930 o12206058
24,566
Sierra Ry
29,779
March ---.
Southern Indiana- April
99,122 125,092 1,594,964 1,315,819
c Southern Pao Co_ _ March
0,450,949 10259 544 .36,350,537 93,306,970
Southern Rallway-r 3d wk May 783,626 1,084,377 17,831,823 50,476,035,
Mobile Jr Ohio. r 3d wk May 149,885 185,809 8,606,855 0,414,759
N 0 Jr T P-_r 3(1 wk May 128,264 177,414 7,073,899 7,310,240
75,873 3,100,376 3,487,690
Ala Great South r 3d wk May
50,227
43,294 1,982,493 2,025,735
Georgie Sou Jr Fla 3d wk ;May
32.612
939,193 1,006,081
19,365
Texas Central
2d wk• May
11,760
Texas Jr Pacific_ _ 3d wk May 212,402 288,855 13,351,608 14.056,850
68,867
60,144
8,513
Tidewater Jr West_ March
6,748
Toledo Jr Ohio Cent March _ _ 336,394 341,998 3,415,133 3.588,664
24,981 1,087,789 1,128,272
Toledo Peor Jr West 3d wk.:May
18,170
92,028 3,454,638 3,710,907
Toledo St L Jr West 3d wk May
63,021
45,438
48,420
6,503
Tombigbee Valley.. March
5,408
724,661
696,828
80,578
Tor Ham Jr Bullet° 'April
67,845
Union Pacific Syst- March
5,345,264 4,200,050 58,094,596 56,272.577
7,351,933
Vendetta
March ..„ 748,378
893,337
R(7,061
116,947
Virginia Jr So West. April •
73,090
Wabash
3d wit,May 435,581 497,065 22.995,347 24,200,451
Western Marlyand_ February _ 350,998 407,049 3,968,263 3,527,239
W Jer Jr Seashore_ _ March ,..,..364,310 398,310 4,366,370 4,009,970
Wheel Jr Lake Erie_ 3d wk`May
78,063 131,431 4,821,222 5,310,385
Wisconsin Central-r Starch
591,390 650,789 5,676,374 5,508,903
-225,114
220,650
31,871
26,692
WrIghtsv Jr Tenn_ _ Starch
720,466 7011.386 8.432,819 8,061,838
Yazoo Jr Miss Val
April ,,f_
Curren!
Year.
Previous'
Year.
----MUM
10,403
n 1 to April 30
lan
S
Bellefonte Central
1 to' MCh 31 4,327,677 4,217,388
Delaware Jr Hudson
18,424
17,148
'Apr
ManIstique '
•
2,824,400 2,824,300
Jan
Mexican Railway
481,557
455,088
7
r
'MayMa
oo
t
1
an
tan
i
.f
Mexican Southern
19,798,654 21,788,770
ttoo' Mcii
New York Central
Jan 1 to- Mch 31 9,157,364 10,429,137
Lake Shore Jr Mich Southern. ja
1,022,006 1,192,070
Si
Mch
to
1
Lake Erie Jr Western
Ian
733,958
755,062
1 to Mch 31
Chicago Indiana Jr Southern_ Jail1
Jan 1 to Mch 31 5,823,911 6,718,518
Michigan Cetitrat
5,664,572
5,506,649
31
Mch
to
Cleve din'Chic Jr St Lon's_ _ _ _
674,335
4398,978
Jan 1 to Men 31
Peoria Jr Eastern
177,703
222,860
Cincinnati Northern
Jan I.
1 to Mch 31
,
2,012,516
31
,3,191,51,1
Pittsburgh Jr Lake Erie... ian 1
5131 ,911
311
,593,839
M
n IS!
o
n .1 !e
itti
ja
- Rutland .
.297
1 to Mch 31 2,471,842
•'NW York Chicago Jr St Louis
17,961,960'5 ,817,312' 'Total all lines
-to .moil ill 2,550%725 3190,725
Northern Central...._ .._4__: taiin
,to Mch Si 31,375,441 07,1204,541 j./
d Penn-.-East of PRO Jr Elie--; Jan
• 1 to 131.013 31 Dec. 4,30 94420 c
cI West.of Pittsburgh 60.Eric;_;.
Ph a, Balto Jr Washington _„ _ Jan 1 to . M.c.11 31 3,599,82 4,775,,566
'
Jan 1 te molt 30 7,984,17• 10 7`;21181
Pit Pin Chic &"St:Louls "
J 198,6414'
11 to Feb 29 • 173,02 '
Rio G rdn tie Stinctinn"
Texas:& Pacific
Litnn 1 to May 2) ;4,073,789 1)8,64(31,737 4 •
92/,924
951.083.
to Mel) 31
w(ist.Jersey Jr
Period.
Various Fiscal Years.
g,w
i
L
•••
.;Weekly Summaries.
Latest Gross Earnings.
July 1 to Latest Data.
AGGREGATES OF GROSS EARNINGS-Weekly and MmIthly.
•
Juent Year Prev's Year Inc. or Dec.
-.Z.V.Z. ...-......,-,...-3_ ._._
8 i..) 11:
%
Moi.tiMfr Summaries.
.
I
(1) .•.;..'
jticc.
,
Cur'ili Year Prev's Year ,inc. oi:
--- ------- ' ----
tifilt. '
..•../.$ .•.I. ,
$
'8.501,487 s 9,754048 -1.25344.1 12.85 Ur:nth July_ 1907 (116 roadltaL069.700 103 A185.15.4 4-23.3r.532 CI 4428
,, 8,854, al -, 9,649,584 -7-1,094,537 11,34
Montia,Aug 1907.021. road .., isq488 033 175,72(1,443 4-21 5 1,,710 12.27
'12,837, 73 14,846,0,7 -2,208,844 14.88
NIOnth.Sept 190711 ta road g 4. tog 548 022 175 505 030 4- 17.0 2'483.
Month Oct 1907 120 roads) 21E697,727 196;8'43,678 +16,854,049 8.56
8,220.'164 "-9,469,719 -.4;240,555 33.10
8,138,475 -0,870,161 -.-‘1,731,686 17154
Month Nov 1907 120 roads). 189,088,564 184,197.391 +5,791 173 3.14
8,247,262 10,067,132 -1,820;470 18.08
Month Dec 1907'023 roads)_ 174,422,451 184,893,810 -11,471,359 6.20
10,827,078 14,207,506 -•-3,380,128 23.79
Month -Jan 1908(122 roads), 151,758,406 172,283,006 -21,524,600 12.49
7,8'11,043 ,0,891,307 -2,079,344 21.03
Month ,Feb • 1908,(123.roads)4 141,2541,206 1,60,150,610 -18,804,404 11.797,958,788 10,166.254 -2,207,466 21.70 'Month Mch 1908 (128 roads). 162,405,089 187.435,350 ---24,940,261 13.37
m3_308.330 57.881.380 -1--11 .488,05(0 1985
Month Anr 1 sinft!( 8:1 ro,,,-3•0
7081.072 10.054.378 -L-2.073.306 20A0
•
a Mexican currency. 0 Includes earnings of'Gi1/7 Jr Chicago DIviston, d linCludes the lionston Jr Texas Central and Its subsidiary ilnes in berth
Ineladas
ansvilla Jr Indiana 1311.
Includos
years. d Covers lines directly operated. e Includes the Chicago 6: Faistera,Illittols In both years.
Dar:slags of Col. 6: SaUth., Ft. Worth Jr Deaver City and an affiliated Baas. excepting Trinity Jr Brazos Valley RR. it Includes in both years sernlass
include receipts. from sale of coal.
and
Fe
Santa
not
System
I
do
Prescott & Phoerdr R7.
These figures
at rieuver KnId Jr Gulf RR.. Pecos Valley
on 'the new
o Flgures here are on the old balls of ,ageounting,-not the new or later State Commerce Commission method. r These figures are
basis prescribed by the Inter-State Commerce COnlmIssIon. S Decrease duo to suspension of business since April 16 on account.of washout.
;
2d !week Mch
Id week Mch
4th week 'Men
1st 'week Apr
2d week Apr
3d week Apr
4th week Apr
1st week ,May
2d !week:May
ad urrtek May
443 roads) ____J
(40;mada)____
(47 roads) ____
(42 reads)....
(42 roads)._
(14 roa(is)._..
(45. roads)..,.
(43 roads) _4 _
444 roads)„,
(41 roads)
• • ....
,...
3.
'
" -
_
THE CHRONICLE
MAY 30 1908.1
1337
--:.Gross Earnings-- -Net Earnings-Curreet
,-)
re.C,Our
•reo.aaus
Year.
Year.
Year.
Roads.
$
31,362
Houston Ltg A Pow Co a Apr
26,832
13,208
15,062
Jan •1 to Apr.30,
126,595 . 113,304
61,023
57,276
ci I nteroceanIc of Mexico Apr . 663,056 • 559.874
228,202
172,372
July I'to• Apr 30
' 8,503,173 5,932•,879 1,922,891- 1;547,580 .
Increase:'Decrease. Iowa Central_a • '
1908.
1907.
225,405
.247;306
Apr
326,366
388,705
7. Third week off May.
,
July 1 to Apr 30
2,579,291 2,641,601
3761,247
3819,433
Keystone Teleph Co_a__Apr
87,409
87,807
46,088
44,880
25,646
50,227
75,873
Alabama Great Southern
•
July 1 to Apr 30
819,889
• 875,782
419,928
386,496 ,
123,465
188,645
65,180
Buffalo Rochester..&. Pittsburgh
xLehigh Valley b
3,066,462
2,903,519
1,284,516
1,225,269
Apr
155,900
45,200
201,100
Canadian Northern
July 1, to Apr 3Q
29,461,368 29,097.471' 10,374,870 10,994,910
1,255,000 1,547,000
292,000
Canadian Pacific '
158,200
59,500 Lexington & Eastern_ b_ Apr
217,700
57,598
35,265
7,304
22,332
Central of Georgia
1;384
3,829
.2,445
July
1
•
to,Apr 30Chattanooga Southern
•
428,923 .• 473,276
133,638
193,029
133,319
32,439 Lowell
.165,758
Chicago Great Western
Lt
24.187
7,821
__Mch
26,503
7,993
87,825
28,106
115,931
Chicago Indianapolis & Loutsv_
Jan .1 toCorp_a_Mch 31
78,919
29,792
31,326
86;743
128,264
49,150
1//,414
Cln New On & Texal Pacific
Central
937,280 1,016,433
Apr 2.696,016' 2,920.992
253,375
41,938 - Mexican'
295,313
Colorado ec Southern
July 1 to Apr 30____30,074,968 25,496,127 8,951,491 7,679,511
345,300
404;400
59,100
Denver & Rio Grande
22,856
25,692
2,836 g Mektean International Apr
271,700
Detroit & Mackinac
846,021
599,542
312,950
60,638
87,039
26,401
julY 1 to Apr 30
Detroit Toledo & Ironton
6,979,818 6,912,789 2,364,903 2,285,331
43,391
24,630. Minneap Gen Elec Co_a_Mch
68,021
Duluth South Shore ec Atlantic_
40,965
83,089
73,111.
29,228
32,612
43,294
10,682
Georgia Southern & Florida
•• Jan 1 to Mch 31
133,400
261,609
236,816
109,869
Grand Trunk of Canada
k4,445
k57,169
270,063
317,538
713;682
858,059
144,377 Minneap & St Louisa Apr
Grand Trunk WesternJuly 1 to Apr 30
k948,297 k1,075.190
3271).333 3,195,439
Detroit Grand'HaVen & MII. I
,1
g Nat RR of Mexlco__-_Apr 1,168,780 1,484,498
Canada Atlantic
516,005
483,236
Northern
114,000
InternatiOnal & Great
158,000
44,000
July. 1 to Apr 3013,234,226 12,885,551 4,781,216 4,647,860
133,363
Interobeanic of Mexico
142,243
8,880
Hidalgo & Northe'n_Apr
82,878
. 18,762
21,709
79,575
45,516
59,404
13,888
Iowa Central
July 1 to .Apr 30
829,634
220,146
201,161
825,979
748,435
900,102
Louisville &Nashville
151,667
665,358
163,565
200,922
179,423
707,503
237,523
15,858 N Y Ontario & West_a__Apr
Mexican International
July 1 to Apr 30
6,688,459 6,781,044 2,015,105 2,147,995
14,853
' 16,411
1,558
Mineral Range
59,330
70,875
11,545 Reading CompanyMinneapolis & St Louis
178,092
243,919
Minneap St Paul & S S M
65.827
Phlia & Reading-b---Apr r 3,269,977 3,998,069 1,172,442 1,563,304
728,000
883,000
Missouri Pacific & Iron Mtn___ _
155,000
July 1 to* Apr 30
35,425,498 35,541,648 13,027,740 13,028,432
•
30,000
' 30,000
Central Branch
Coal,& Iron Co- b
Apr 4,453,7117 4,121,379 • 203,134
220,227
149,885
185,809
35,924
Mobile & Oblo
Jtily
1
32,861,571 32,010,461 2,260,694 1,690,580
to
Apr
30
279,658
National Railroad of Mexico_ _
356,184
76,526
Total both cos b
16,194
Hidalgo ec Northeastern
3,439
Apr 7,723,684 8,119,448 1,375,576 1,783,531
19,633
July 1 to Apr 30
5,668
447
68,287,068 67,552,110 15,288,434 14,719,012
Nevada California-Oregon
6,115
11,687
132
Rio Grande Southern.
11,819
Reading Company____Apr
128,418
129,375
42,01,1
155,625
St Louis Southwestern
197,636
July. 1' to Apr 30'
. 1,276,053 1,300,576
300,751
Southern Railway •
783,626 1,084,377
Total
all
1,503,994.
conipanies_ __A pr
1,912,906
Texas & Pacific
76,453
212,402
288,855
16,564,487 16.019,588
July 1 to Apr 30 Toledo Peoria & Western
6,811
18,170
24,981
Toledo St Louis ec Western _
29,007 Sonthern Railway CO_a_Apr 3,936,356 4,768,457
962,241
63,021
92,028
718,202
71,484
Wabash _
July 1 to Apr 30__45,341,516 47,222,711- 9,178,935 9,1)12,155
425,581
497,065
Wheeling & Lake Erie
52,468
78,963
131,431
172,606
137,154
Cine N 0 & Tex Pae_a_Apr 611,137
706,772
July 1 to Apr 30
8,679,299 6,791,870 • 1,373,330 1,263.932
Total (41 roads)
7,981,072 10,054,378
2,073,306
47,444
38,264
Alabama Gt South'n a Apr
252,553
332,552
Net decrease (20.60%)
602,667
July 1 to •Apr 30
,472,614
3,008,451 3,271,899
46,855.
Texas'Central" Apr
e37.397
116,668 edef3o.510
444,041
221,884
July 1 to Apr 30
917,977 , 1,052,957,
For the second ,week of May our final statement covers 44
44,21,3
Victor Fuel Cob
Apr • 192,893'
44,269
235,902
489,337
July 1. to Apr 30
- 2,188,030 2,143,613
490,129
roads and shows 4.70% decrease in the aggregate over the
•
same week last year.
a Net earnings here given 'are after deducting taxes.
b Net earnings here given are before deducting taxes..
,year so as-to accord with the new classlfl• c Figures revised for prevIeUs
• 1907. I Increase. Decrease.
1908.
Second week of May. • •
cation of earnings and expe9Ses7-now required by the Inter-State Commerce
.
Cdmn3ission.
s.
•
$
48 2,181,522
Previously reported.(40 roads)- 7,911;081 10,992,555
,any notrInclii4es thc earnings of the-Denver Enid dc Gulf 11R.,
2,071),
1,810
-3,870
Chattanooga, Southern,
,• ,
•
•. 17,449 'Pecos Valley 4-kern anif-Satita-1 Fe Prescott A,Phoenix By. In bothyears
46,068
28,619
Gulf ec Ship Island
1,132
•
, .4,396
5,528
Nevada--California-Oregon _
!For .Aprli taxes and zenit,ils•amounted to $311,8284 against '3222,137 in
7,005
'
19,365
Texas Central_
11,71,11)
1907; after deduoting whreb:, net for •Vpril 1908 was $2,619,723. ag-atrist
-$2,07.1,108 last year. For period from .. .July 1, to .April 30, taxes and
_
(44
roads)
_
_
_
2,208,11.10
Total
1
7,958,788 10,166,254
'
Net decrease (21.70%)
rentals were'4;405'06601n; 1008 against $1,963,850 in 1007.
•
Large•deerea:seln --Ai-MO:file to washouts.
y These results. are In Mexican currency.
11 ro'r April 11108 aduinonat tri6mitd.siique-ed a delleit of $4,059; against a
Net Earnings Monthly to Latest Dates.-The table. folcredKo1'53917 in 109.7.; anti for•perrOd;hoin July 1 to April 30 was-$25,173.
lowing shows the grosS and net.earningSiif STEAM railroad ln
1006, ;igatost 548,$81- last year. •
reported this week-. A fttli detailed statvamt, including 'all
k For April 1908 additional incOm'
fi).**17,104,. against $17,643 In 1907,
for period froni*JtIly-1 to April 30Wss 1172,7481n-1908, against$194,019
and
roads from whiclOnonthly returns,:can be plititined, is given
laSt year.
once it month in these colUmns, and the:latest _statement of. x These figures are on the basis of accounting required by .the Inter-State'
this kind will be found in the issue Or May 23 1908. The Commerce Commission.
Latest...Gross Earnings by Weeks.-In the table which
follows we sum up separately the, earnings for the third
week of May. The table covers 4I-roads and shows 20.60%'
decreasei-in tho 'aggregate over.the, same'week last„ year: •
next will appear in the-issue of jurie.20.
--Gross P..arningsCurrent
Previlous
Year.
• Year..
$
Net EarningsPrevious
Current
Year.
Year.
$
,.
$
Roads.
Abington & Rockland Elee
4,783
1,990
1,016
• 3,702
Mch
Lt & Power Co a
15,806
6,871
5,397
12,714
Jan 1 to Mch 31
Atch Top & Santa Fe.b_Apr 7,361,368 8,494,368 d2,931,551 d3,296,245
77,571,762 77,887,330d24,562,705d20,556,466
July 1 to Apr 30
.631,347
589,725
Atlantic Coast Linea_ __Apr 2,266,534 2,444,409
22,149,747 22,401,747 5,075,251 5,661,596
July 1 to Apr 30
686,100
Canadian Northern___Apr
160,700
569,900
104,700
7,683,100 5,659,409 , 3,140,400 1,427,000
July 1 to Apr 30
Canadian Pacl0e-a
Apr 5,497,736 6,391,561 1,722,234 2,366,926
July 1 to; Apr 30
60,435,768 58,4112,677 18,435,374 20,368,844
Central of Getirca_a____Apr 2736,527
924,299
x88,229
110,820
July 1 to, pr 30
x9,852,171 10,341,115 x2,200,395 2,355,159
Central Of. Ne*, ersey_b_Apr 2,271,591 2,335,095 1,,076,230 1,088,516
July: 1 to Apr 30
22,642,721 21,784,663 • 9,645,223 10,127,301
Chattanooga SoUthern.:a Apr
15,319
688
7,572
1,249
July. 1T to Apr 30
121,745
def 652
85,590
863
Chesapeti
ffdlito_b:.__Apr 1,718,852 --- 2,200,621
577,904
743,825
July 1 to Apr 30
22,102,218 20,9'0,241 7,454.074 7,301,875
Chicago Gt Western_ b__Mch x654,472
780,595
x107,026
175,223
July 1 to Mch 31
x6,215,680 7,206,875 x1,060,063 1,996,635
Chicago ec North West-b-Apr 4,406,270 5,410,595 1,443,610 1,402,725
July_l to Apr 30____....53.950.687 57,131,410 18,163,564 20,213,701
x309,234
Chic St Paul Mind & 0_ b_Apr x934,771 1,133,144
J:,tily• 1 to Apr 30
x11,032,480 11,827,511 •x3,708,237
b_Abr
988,877 1,034,666
Colorado A Southern_
250,538
327,795
12,238,502 11,086,731 4,132,064 3,669,281
July 1 to Apr 30
Apr
5,750
461
Cornwall_a
18,891
8,839
107,970
July 1 to Apr 30
40,511
182,831
85,310
Apr
209,758
Cuba Railroad
86,322
88,219
208,973
1,720,385 1,578,863
July 1 to Apr 30
607,506
510,669
91,842
zDuluth & Iron Range_ b_Apr
def.46,094
5,487,430
July 1 to Apr 30
3,196,247
16,962
Ed El Co (Brockton).a.Mch
14,607
7,439
5,638
57,917
48,987
Jan 1 to Mch 31
23,536
19,910
29,449
28,183
Fall River Gas Wks_a__Mch
5,638
8.932
100,046
05,902
Jan 1 to Mch 31
26,675
32,643
212,095
224,480
Apr
Georgia RR_a
3,192
4,396
2,536,332 2,573,719
July 1 to Apr 30
384,794
472,493
18,750
18,448
Houghton Co El Lt_a_Mch
8,409
7,853
65,730
69,354
Jan 1 to Mch_31
33,705
37,137
Interest Charges and Surplus,--The following roads, in
addition to their gross.thddllet'earnings given in the foregoing,.
also- report charges for interest, &-c„, with the.surplus above
or deficit below these charges.
Rentats. ecc- -Sal. of Net engs.Previous
Current
Current
Previous
-Year.
Year.
Year.
Year.
Roads.$
. .
$
.
Abington &Rockland Eleo
Light & Power
_ _Mch •
104
177
1,886
839•
.
Jan 1 to Mch
Ca_31•
517
• 477
6,354
4,920
• Central otNeW•JerSey___. API' 5736,048
5849;412
230,104 ,
340,182
55,301,871 56.486.491 4,343,352 3,640;900. .
July t to Apr 30
_ __Apr
250,383
Colorado
227.790
c12,591
c119,944
&Southernto Apr 30
2.199,642 1,960,888 c1,968,555 c1•717,478
July.1
Cuba Railroad
31,892
Apr54,430
28,329
59,889
July 1 to Apr 30
391,618
305,889
241•397'
269,271
-1.066 '
,.-708
6.373
Ed El Co (Brockton)_Mch
4,930
21,008
17;80G.
2,528
2,104
Jan 1 to Mat 31
•
1
132
5,331.
8,800 :
Fall River Gas Works_ _ _ Mch
357
,
25,786
-- =398
32245 -Jan I -to Itch -31
= 889
51,226
xdef55,434
xdef46,378
Georgia RR ______- _-_A145
pr
50,
516.223zdef178,214 zdef36,588•
July 1 to Apr 30
570,894
-2,813
Houghton Co Elec Lt_ __Mch
5,041
3,165
5,244,i 7..187
8,314
Jan 1 to Mch 31
25.391
29,950
-3,785
Houston Ltg A Pow Co_..'Apr
3.375
11,27Y__
. 9,833._
15,026
Jan 1 to Apr 30
13,500
45,997
43,776.
2,155
1,173
Lowell Eke Lt
--Mch
• 5,666
6,820 ••
Corp_31
5,280
'3,404
Jan 1 to Mch
24.512
27,922 '
MInneap Gen El Co..
_ .Mch
-Mch
25,579
20,356
15,386
8,872
75,321
Jan 1 to Mch 31
47,489
58,079
62,380
88,492
N Y Ontario & Western_Apr
77,354
149,031
123,568
841,589
July 1 to Apr 30
746,755 1,173,516 1,401,240
Apr
887,500
Reading Company
885,478
616,494 1,027,428
July 1, to Apr 30
8,875,000 8,854,777 7,689,487 7,164,811
Apr
Texas Central
2,584
2,584 def33,094
44,271
. July 1 to Apr 30
25,831
25,831
196,053
418,210
Victor Fuel Co _ __--__Apr
19,673
z32,232
x31,692
17,996
c365.773
x381,540
190,522
188,862
, July 1 to Apr 30
b Included In fixed charges are expenditures for renewals, additions and
Improvements amounting to nit for April 1908, against *152,542 in 1907,
,
and from July 1 to April 30 were *1.014,939 In 1907.
• c After allowing for miscellaneous charges and credits to Income.
- x After allowing for other Income received.
-
1338
THE CHRONICLE
[VOL. Lxxxvi.
- -Net Earnings--Gross Earnings
Pretious
Current
Previous
Current
Year.
Year.
Year.
Year.
ar.
Jan. 1 to latest date.
$
Latest Gross Earnings.
$
Roads.
Name of
117.624
122,678
277,724
318,867
Illinois Traction Co.a---Apr
Week or Current Previous Current Previous
Road.
475,305
512,011
1,269,654 1,103,324
Jan 1 to Apr 30
Year.
Year.
Year.
Year.
Month.
13,273
12,288
34,206
36,965
---- Jacksonville Elec Co_a__Mch
33,375
29,859
95,939
101,203
$
Jan 1 to Mch 31
214,239 223,082
823,892
219,570
853,015 Kans City RydoLt Co b_ _Mch
221,704
478,464
American Rys Co__ _ _ April
488,741
97,1)34 101,198
373,244
379,447
cAur Elgin &Chic By April _.._
June 1 to Mch 31
5,127,018 4,753,616 2,469,246 2,367,668
33,668 36,143
Bangor By & El Co__ April
22,461
23,352
Knoxville By & Lt Co_a_Apr
47,127
45,992
22,731) 20,240
April
BIngnamton By
78,719
78,023
180,989
Jan 1 to Apr 30
174,009
176,527
698,618
firm fty Lt & Power April
76
1
,
63
6
2
5
7:
22,719
7,254
64,111
6,829
61,864
20,182
18,509 Lake Shore Elec Ry Co a Mch
Brockton & Ply St Ry March ___
64,479
14,831
179,576
Jan 1 to Mch 31
175,937
56,320
17,43250,492
Cape Breton El Co_-- March ____
53,617
56,282
April
__
209,768
16,262
217,254 Lexington & Interurb__Mch
'Central Penn Tract
41,738
46,733
61,048
55,324
242,345
219,271
37,805
(Marl Con By Gas&E1 April
5,3
78
62
1
4
10
116,719
Jan 1 to Mch 31
128,709
69,502
72,721
270,056
285,790
dChicago do Oak Park April
23,530
27,952
49,139
Little
Rock
Ry&E1Co_a_Apr
35,559
20.114
19,47o
April
74.261
71,543
Cleve Painesv & East
88,402
195,054
110,022
Jan
1
to
219,068
Apr 30
52,811
49,558
52,811
49,558
Cleve Southw & Col__ January
:5
45
52
1
28,701
26,450
49,821
124,972
87,977
132,239
78,724 Memphls St By Co_a _ __ _Apr
Columbus Electric Co March
66
7
14
87,447 89,493
172,620
Jan 1 to Apr 30
492,502
482,161
261,248
254,889
Dallas Electric Co_ _ _ March
I Detroit United Ry_ 3d wk May 127,043 126,465 2,378,173 2,398,598 Milw El By & Lt Cob _..Apr
148,182
148,400
300,688
306,162
47,773 46,429
Duluth Street Ry____ 3d wk May
342,155
320,494
566,553
536,835
Jan 1 to Apr 30
1,213,128 1,188,369
148,794 162,234
651,385
640,386
East St Louts ,do Sub_ April
52,143
28,205
55,517
43,641
40,538
March__
134,306
114,140 Mllw Lt Ht & Tract Co_b Apr
El Paso Electric
5,817
2
12
07
Jan
98,245
1
to
Apr
30
214,002
208,423
Ft Wayne & Wabash
07,760
92,500
108,213
110,595
Apr
280,736
274,635
Valley Traction Co March ___
298,235
267,018 Montreal St By
83,539 82,292
633,605
March ____
Oct 1 to Apt 4“______ 2,027,873 1,873,684
711,866
•Galv-Hous Elec Co
238,869
226,648
68,825 71,853
Grand Rapids Ry Co_ April
Norf & Portsm Trac Co _...1,4W
14
:5
1 ,5,,,,u/
Apr
:lei,/ ii
35,580
33,662
763,321
Havana Electric Ry_ Wk May 24
694,248
Jan 1 te Apr 30
558,917
217,851
2uu,268
6211,013
Honolulu Rapid Tran
Ohio
Tr
&
Lt_
__
_Apr
129,804
49,955
47,552
132,844
North
30,663
30,909
March ____
90,579
& Land Co
88,992
504,889
190,332
Jan 1 to Apr 30
181,006
508,727
19,773
20,415
March ____
55,786
Houghton Co St Ry
51,564
277,724
318,867
1,269,654
Traction
April
Elec
Co
NorthTexas
Co_a__Mch
01,651
Illinois
39,205
1,105.324
40,748
91,756
36,965 34,206
101,203
Jacksonville Elec Co_ March
237,164
Jan 1 to Mch 31
80,795
95,939
93,677
234,000
488,741 478,464 1,449,180 1,380,994
Tr,ns City Ry& Light March
Westchester Lt Co a Mch
9,413
3,661
Nor
45,992 47,127
174,009
Knoxville Ry & Lt Co Apiri
180,989
29,417
Jan 1 to Mch 31
11,208
64,111
61,864
175,937
Lake Shore vflectric__ March ___ _
179,576
7
13
9:614
099
3,189
8,684
21,156
41,738
46,735
128,709
116,719 Oklahoma Clty Ry Co_ _ _Apr
Lex & Inter flys Co__ March
Apr
30
to
1
Jan
18,428
24,207
69,080
49,139
219,068
55,559
Uttle R'k By & El Co April
195,054
492,502
132,239 124,972
Memphis Street By__ April
16
1:0
68
98
5
3
482,161 Peekskill Ltg & R11-a__Mch
4,677
4,813
11,891
868,253
219,956 234,412
Met West Side Elev__ April
923,312
Jan 1 to Mch 31
14,391
13,327
35,487
306,162 300,688 1,213,128 1,188,369 Pensacola Electric Co_a_Mch
Milw Elec By & LtCo April _
6,296
5
19
2:2
1,319
5
5,338
1728
51,9641
214,002
52,143
55,517
M'lwLt Ht & Trac Co April
208,423
1 to Mch 31
17,518
11,638
Jan
66,819 1,279,926 1,212,389
68,168
Montreal Street Ry__ Wit May 16
117,501
30,652
31,500
105,775
489,411
117,572 124,857
NaShvllleRy&Lt___ April
484,144 Puget Sound Elec Ry-a_Feb
55,648
240,479
Jan 1 to Feb 29
64,243
213,291
131,961
34,141
39,349
116,002
.NJ & H R Ry&Fy Co April
504,8S9
129,804 132,814
508,727 Portland Ry Lt ec P Co_Mch
North Ohio Trac &Lt April
109,785
336,152
162,786
299,63(1
237,164
91,756
91,651
North Texas Elec Co_ March
234,000
286,046
1,009,263
487,551
Jan 1 to Mch 31
836,445
558,917
143,465 187,097
629,013
Norf & Portsm Tr Co April
570,665
206,030
Rio de Jan TramL&PCoalkich
29,417
9,413
No Westchester Lt Co March
1 ,638,085
Jan 1 to Mch 31
000,934
613,867
155,354 135,201
534,877
Northwestern Elev__ April
Ht&P
Co_
Lt
_Apr
By
64,699
28,048
Jos
63,057
73,099
St
21,156
19,614
69,080
Oklahoma City By... April
9
119
265
,809
268,264
122,106
Jan 1 to Apr 30
261,287
36,095
11,891
11,688
35,487
PeekskIll LiTht & RR March
51,961 Sao Paulo Tram Lt & P_Apr
52,739
17,284
19,205
111.021
Pensacola Electric Co March
125,484
196,223
170,334
336,152 299,630 1,009,263
836,445
469,092
Portland By Lt&P Co March
507,246
74
73:4718
)42
Jan 1 to Apr 30
70
40
3:0
84
57
9
240,479
213,291 Savannah Electric Co-a-Feb
Puget Sound Elee By February _ 117,301 105,775
15,724
Rio de Janeiro Tram
Feb 29
30,553
to
1
Jan
90,039
89,389
1,638,085
570,665
Light & Power_ _ _ _ March
116,829
830
05
0
4,
4
0
34
11
18
Seattle Electric Co_a___Mch
318,903
353,462
St Joseph (MO By Lt
310,746
329,055
268,264
Jan 1 to Mch 31
1,063
87;88
7
892
63,057
809,884
64,699
261,287
Heat 8c Power Co__ April
773,942
196,223 170,334
700,859 Springfield By & Lt Co....Apr
29,549
Sao Paulo Tr Lt do P_ April
32,324
64,044
43,947
90,039
43,718
89 389
Savannah Electric Co February _
43,050
Syracuse Rap Trans Co_Apr
103,710
98,054
353,462 318,903 1,063,792
899,884
Seattle Electric Co_ _ March
170,434
6
7
4
7
to
Apr
31
59,3
47
1
14
Jan
408,923
387,601
686,302
176,828 154,728
587,846
South Side Elevated_ April
14,265
11,500
45,600
214
11,825
303
61,
43,528
,,9
112
522
9
1
45,676 Tampa Electric Co_a___Mch
Sou Wisconsin By Co April _.._
36,424
57
0
13
2,7
84
64,044
4
67,666
Jan 1 to Mch 31
126,215
Spr'gfield Ry&Lt Co_ April
98,054
408,923
103,710
387,651 Toledo Rys do Lt Co_ b_ -Mch
Syracuse Rap Tr Ry_ April
95 052
250
88
766
213
43,528
136,982
43,121
March
126,215
Tampa Electric Co_..
265,401
269,698
Jan 1 to Mch 31
625,967
634,657
201,129 213.766
625,967
634.657
Toledo Rys & Light_ March
247,132
247,172
465,221
Twin City R T Co _ b_ __Apr 493,497
68,562 66,170
To -onto Railway_ _ _ _ Wk May 23
008,776
890,962
Jan 1 to Apr 301,901,955 1,821,162
Twin City Rap Tran_ 2d wk May 114,897 109,864 2,131,843 2,039,923
underground Elec Rys Co of
.k Underground El By
£21,166
c 19,694
London, Ltd
c£16,036
Feb
of London, three
£49,688
c£19,788
£6,440 1234,035 £170,140
£45,838
Wit May 16 £12,045
Jan 1 to Feb 29
tube lilus
c £53,409
£104,181
£7,966 £177,539 £158,024 United Rys of.St Louis a-Apr 865,691.
£9,005
rIvetropolitan Dist_ Wit May 16
301,884
295,028
884,923
16,852
16,895 £109,178 £111,865'
nited Tramways Wk May 16
3,327,451 3,379,085 1,123,755 1,073,451
Jan 1 to Apr 30
united RR of San Fr_ March ____ 564,673 543,556 1,559,687 1,589,053
203,140
181,254
543,556
564,673
865,691 884,923 3,327,451 3,379,085 United RR of San Fran_Mch
April
United Rys of St L
•
Mch
31
643,694
to
440,316
Jan
1
1,559,687 1,589,053
28,561
26,556
88,667
Wh.)),n,
ylvdoLt March
81,326
Co
By
&
10,424
Whatcom
11,338
26,556
Lt_a_Mch
28,561
c These figures are for consolidated company. d These atre results for
33,545
35,832
Jan 1 to Mch 31
81,326
88,667
main line. f No earnings for Detroit Jackson & Chicago By. for Jan. 1907
strike
and
to
due
boycott.
k
h
Decrease
Does
figures.
Included In these
a Net earnings here given are after deducting taxes.
not include the Charing Cross Euston & Hampstead Ry. for last year
b Net earnings here given are before deducting taxes.
the
following we show
Street Railway Net Earnings.-In
c Does not include for last year the Charing Cross Euston ec Hampstead
which was not opened for traffic until June 1907.
By..
to
latest dates of all
both the gross and the net earnings
STREET RAILWAYS AND TRACTION COMPANIES.
STREET railways from which we have been able to procure
monthly returns. As in the case of the steam roads, the
returns of the different roads are published by us each week
as soon as received, and once a month we bring together all
The roads reporting, as is,done to-day.
-Gross EarningsPrevious
Current
Year.
Year.
Roads.
$
$.
Aurora Elgin & Chleago_Apr
101,198
97.934
July 1 to Apr 30
1,156,467 .1,080,254
Bangor Railway & El Co Apr
36,143
33,668
Binghamton By
Apr
22,730
20,240
Birm Ry Lt do P Co_a_ _ _Apr
176,527
Jan 1 to Apr 30
698,618
Brockton & Plym'th_a__Mch
7,254
6,829
Jan 1 to Mch 31
20,182
18,509
Cape Breton Elec Co_a_Mch
14,831
17,432
Jan 1 to Mch 31
56,320
. 30,492
Central Penna Tract Co_Apr
56,282
53,617
Jan 1 to Apr 30
209,768
217,254
Charl'n Cons RyGas&EI_Apr
61,048
55,324
Mch 1 to Apr 30
122,546
111,460
Cloy Painesv & East'n _a Apr
20,114
10,470
Jan 1 to Apr 30
71,543
74,281
Cleveland Southw & Col..Jan
52,811
49,558
Co)umbus Elec
__Mch
28,701
26,450
Co_a_31
• Jan 1 to Mch
87,977
78,724
Dallas Electric Co_a____Mch
87,447
89,493
•261,248
Jan 1 to Mch 31
254,889
529,236
Detroit United Ry Co.a.Mch
548,889
31
Mch
1,503,827
to
1
1,525.544
Jan
68,719
_ __Apr
Duluth Street
67.201
263,019
30
Ry_6243,988
Jan 1 to Apr
148,794
East St L & Suhurbln _ _Apr
162,234
651,385
640,386
Jan 1 to Apr 30
43,641
40,538
El Paso Electric Co-a- _ _Moil
134,306
• Jan 1 to Mch 31
114,140
97,760
92,500
Ft Wayne & Wab Val_ _Mch
298,235
287,018
Jan 1 to Mch 31
83,530
Galv-Hous Elec Co_a_--Mch
82,292
238,869
Jan 1 to Mch 31
226,648
68,825
Grand Rapids Ry Co_ _ _ _Apr
71,853
30,663
30,909
Honolulu RT&Lt Co b_ _Meh
90,579
88,992
Jan 1 to Mch 31
19,773
Houghton Co St Ry_a__Mch
20,415
Jan 1 to Mch 31
55,786
!51,564
Interest Charges and Surplus.
-Int.. Rentals, ea.- -Bat. of Net E'ngs.Previous
Current
Current
Previous
Year.
Year.
Year.
Year.
Roads.
$
$
$
$
--Net Earnings
15,117
- Aurora Elgin & Chicago_Apr
12,226
28,330
27,388
Current
224,341
Previous
to
237,235
Apr 30
July 1
277,723
264,897
Year.
Year.
Binghamton By
def.474 def.1,264
Apr
8,127
8,359
$
1
22,210
Lt
&
P
Co_
___
43,556
Ry
.Apr
B1rm
45,215
42,705
65,795
514,958
Jan 1 to Apr 30
175,383
489,238
def.818
17,274
def.1,421
18,865 Brockton & Plymouth_Mch
1,820
1,907
7,885
Jan 1 to Mch 31
5,629
5,347 def.6,908 def.3,970
6,883
67,425
1,169 def.2,995
Cape Breton Elect Co_ __Mch
4,250
4.486
241,178
5,979 def.2,055
Jan 1 to Mch 31
13,346
12,750
486
1,002 Charl'n Cons RyGas&E1_Apr
7,633
6,716
2
17
3:6
83
13
7
13,517
def.1,279
1,377
14,630
12,206
Mch 1 to Apr 30
27,033
5,655
1,255 Clev Painesv & East'nApr
11:019472
275:524,02
19,324
10,695
1,8
28
03
8
28,851
Jan 1 to Apr 30
8
3
51
0
8,551
3
1
5127
11,544 Coluinbus Electric Co_ _ _Mch
8
298
14717
2,112
1,448
3
15
1:9
57
64
00
7
72
1
23673
10
28,171
30,225
8,464
5,007
Jan 1 to Mch 31
21.45')
20,233 Dallas Electric Co
08
28 def.0,9
3:9
Mch
def:7
28
28
7
2
73
0:3
47
58
1
42,283
39,239
Jan 1 to Mch 31
8,387
8,121 Detroit United Ry•Co__I
M
Aic
c
ph
h
r
x60,780
x74,456
134,714
30,584
30,054
x102,612
x144,882
4.0
18
5:4
Jan 1 to Mch 31
88
13
7
3
1
16,369
19,954 Duluth St By Co
7,850
16,123
17,645
.
30
Apr
16,625
7
6
to
14,083
42,301
Jan
1
3
9
6
10:6
3
73,666
7
12,278
44,028
37.722 El Paso Electric Co
4,004
03:590045
4,665
5,767
31
18,750
20,290
17,509
20,480
1 Jan 1 to Mch
62,535
50,360 G.alv-Hous Elec Co
Mch
12,029
14,417
14,965
16,480
27,113
33,732
190,942
49,380
44,189
200,916
Jan 1 to Mch 31
494,014
508,537 Honolulu Rap Tr&L Co_Mch
x8,565
'x8,036
6,394
6,134
x22,826
26,267
x21,401
18,402
19,182
33,768
Jan 1 to Mch 31
90,291
112,667 Houghton Co St Ry- --..Mch
• 3,6 750885
3,971
1:5
319553
1327
9
31
2,4
def.3
Mch
-26:461
11,806
63,589
to
67,835
Jan 1
317,462
2'33,514 Jacksonville Electric Co_Mch
5,703
3,475
5
0
31
9
2,79 8
29
9,771
12,222
17,637
10,425
Jan 1 to Mch
8,569
36,259
23,502 Kans City By & Lt Co__Mch • -153,824
67,518
67,880
152,052
003,604
39,504
936,350
1,532,896 • 1,464,064
33,656
June 1 to Mch 31
125,802
101,109 Knoxville By & Lt Co__Apr
4
11
5:3
89
11,958
61
10,571
1,7
88
20
8
3
17
32,161
40,991
28,500
Jan 1 to Apr 30
29,782
76,502
77,021 Lake Shore Elec Ry Co_ _Mch
980
25,728
24,651
def3,009
def3,247
76,852
71,223 def 12,373
Jan Ito Mch 31.
31,580
37,569
14,844
18,386
8,686 •
9,566
13,944 Little Rock By & El Co_Apr
13,963
54,755
72,956
33,647
37,066
Jan 1 to Apr 30
30,305
39,154
13,344
15,014
33,108
34,807
7,100 Memnhis Street By Co_ _Apr
6,664
36,752
64,027
131,129
138,593
; 15,314
9,369 6/7 :an 1 to Apr 30
MAY 30 1908d
THE CHRONICLE
-Int., Rentals, &c.- -Bal. of Net E'ngs.Current
Previous
Previous
Current
Year.
Year.
Yea?.
Year.
Roads.
$
$
$
$
!MIlw El By & Lt
93,024
95,474
_ __Apr
x59,061
x57,763
383,485
Jan 1 to AprCo375,741
30
x174,075
x210,775
57,674
Milw Lt fit & Tract Co _Apr
30,423
x15,507 xdef2,363
226,854
Jan 1 to Apr 30
120,570
z51,573 xdef14,481
51,345
Montreal St fly Co
Apr
45,318
62,806
59,240
323,987
Oct 1 to Apr 30
284,196
349,409
387,878
44,029
North Ohio Tr & Lt._ Apr
42,402
7,553
3,523
172,889
Jan 1 to Apr 30
166,431
23,901
8,117
11,769
North Texas Eiec Co_ __ _Mch
10,312
28,893
28,979
35,276
Jan 1 to Mch 31
30,750
59,045
58,401
3,617
Pensacola Electric Co_ __Meh
3,125
3,171
1,721
10,822
Jan 1 to Mch 31
9,389
8,129
816
34,936
Puget Sound Elec Ry___Feb
29,552 def.3,436
1,1C0
71,091
Jan 1 to Feb 29
57,392 det.6,848 def.1 ,744
Savannah Electric Co_ __Feb
12,514
11,335 def.8,184
4,389
Jan 1 to Feb 29
25,082
23,022 def.14,997
7,531
-Seattle Electric Co
63,619
Mch
51,341
65,488
54,821
Jan 1 to Mch 31
189,848
151,174
139,207
168,572
Syracuse Rap Tran Co_ _Apr
28,466
25,471
z16,801
x17,634
Jan 1 to Apr 30
114,772
100,376
x45,822
x70,277
'Tampa Electric Co
1,096
Mch
1,225
13,040
11,651
Jan 1 to Mch 31
3,037
3,180
33,244
40,813
Toledo Rys & Lt Co_ __ _Meh
68,898
63,457
x32,666
x18,410
Jan 1 to Mch 31
205,952
188,920
x79,349
x86,402
'Twin City R T Co
126,075
Apr
115,258
131,874
121,097
494,205
Jan 1 to Apr 30
461,033
447,743
396,757
United Rys of St Louls__Apr
232,274
230,892
70,992
02,754
932,437
Jan 1 to Apr 30_
924,627
148,824
191,318
Fran_Mch
'United RR of San
220,618
207,576 def39,364
def4,436
681,895
Jan 1 to Mch 31
608,283 def241,579
35,411
Whatcom Co By 63 Lt-_Mch
6,7674,571
4,126
Jan 1 to Mch 31
19,937
12:In
15,895
14,835
x After allowing for other income received.
ANNUAL REPORTS.
Annual Reports.-The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since April 25.
This index, which is given monthly, does not include reports in to-day's "Chronicle."
1339
New Stock.-The common stock was Increased during
year $2,500,000;
4,952 shares were sold to raise funds for the uses ofthe
the company and
20,048 shares were distributed among the common stockholders
ment, at par, of the extra dividend of 33 1-3% declared out of the in paysurplus
of the company.
Bonds.-Consolidated bonds to the amount of $158,000 were issued to the
company on account of new construction and properties acquired.
There were retired under sinking fund provisions $25,000 bonds of
the
Atlanta Consolidated Street By. Co. and $10,000 first consols
of Georgia
Railway & Electric Co.
City Lighting-Rate Reduction.-The contract with the city of Atlanta
for
lighting streets, which expires April 1 1908, was renewed
during the year
for a period of five years from April 1 1908. In connection
therewith the
company agreed to a reduction of its maximum rates to private consumers
from 12 cents to 10 cents per k.-w. hour for current used for lighting
poses and from 7 cents to 6 cents per k.w. hour for current use for purpower
p irposes. Both city lighting contract and electric current rates are,
therefore, satisfactorily settled for live years.
Taxation.-During the year the assessment of our physical property and
franchises for taxation was largely increased, the amount fixed being
entirely satisfactory to the public authorities.
Earnings.-The gross earnings for 1907 show an increase over the prec. d ng year of $414,417, or 14.32%; operating expenses increased $235,431,
cc 16.49%; net earnings Increased $178,987, or 12.20%.
After paying all fixed charges and preferred stock dividends of
the
surplus earnings for the year amounted to $741,384. Out of the5%,
surplus
earnings a dividend of $6 per share on the common capital stock was
paid
In quarterly installments of $1 50 each in February, May, August and
November. After providing for these dividends, the balance of the surplus
earnings for the year, namely $312,936,
was credited to profit and loss.
Controlled Company.-The Atlanta Northern
Co., the capital
stock of which Is owned by this company, showsRailway
for the year 1907 (1906
inserted for comparison)-Ed.):
Cal.
Gross
Net
Taxes
Bond
Note Balance,
Total
Year. Earnings. Earnings. Paid. Interest. Interest. Surplus. Surplus.
1907___$138,523 $45,510 $3,279 $20,000 $2,092 $20,138
$52.283
1908___ 118,505
45,185
2,005
20,000
1,896
32,146
21,284
Georgia Ry. & Electric Co.-Atlanta Gas Light Co.
RESULTS FOR CALENDAR YEARS.
1907.
1906.
1905.
1904.
Gross earnings
$3,309,341 $2,894,924 $2,500,575 $2,112.973
Operating expenses
1,663,282
1,427,851
1,216,033
1,088,081
Net earnings
31,646,059 $1,467,073
DeductTaxes
$229,725
$122,270
Int. on bonds and notes_
554,950
513,367
Divs. on pref. stock, 5%
120,000
120,000
Divs. on corn. stock__(6%)428,448(6 ii)390,949
Total deductions ___- $1,333,123
Balance, surplus
$312,936
$1,284,542
$1,024,892
$100,664 1 $570,416
513,304
120,000
120,000
(2)120,292
$1,146,586
$854,260
$690,416
$320,487
$430,282
$334,476
GENERAL BALANCE SHEET.
1907.
1906.
Railroads1907.
1906.
Industrials (Continued)Page.
Page.
Assets$
$
Liabilities-Grand Trunk
$
1095 Corn Products Refining
1222 Construct'n, plant 20,644,991 19,606.321 Preferred
stock__
Long Island RR
2.400.000
2,400,000
1156 Crow's Nest Pass Coal
1098
323,653 Common stock ._. 8,514,600 6,014,600
New York Chicago & St. Louls_1038 Diamond Match (official state't) 1283 Supplles,fittings,&c 423.987
313,218 Mortgage bonds _10,865,000 10,767,000
Pennsylvania Company
1281 Elec. Development Co., Toronto 1008 Cash & accts. rec., 675,403
11,388
6.277 Accts. & bills pay_ 909,529
.Phila. Balto. & Washington _1219 Electric Storage Battery Co_ __1041 Prepaid accounts_
237.261
Treasury bonds_
128,000 Interest payable_ Quebec Central Ry
4,792
4,838
1226 General Asphalt
1287 Stocks and bonds_
1,740,124 Taxes payable____
Underged Elec. Rys. of London 1039 General Electric
20.076
30,989
1157 Job & work orders 1,898,364
89.753
90,057 Reserve accounts_
97,030
West Jersey & Seashore
120.587
1220 HUdson River Electric Power
Sinking
fund
bonds
100,000
87,000 Sink, fund interest
Electric Railways21,340
17,006
(History, &c.)
1097 Sink. fd. premium
4.748
5,350 Profit and loss__-- 1,016,349 2,708,280
Chicago Railways
1039 Mexican Telegraph
1040 Sink. fd. trustee__
82
556
International Traction
1005 Mohawk Mining
1103
New Orleans By. & Light
1098 New England Teleph. & Teleg1162
Total
23,848,716 22,300,556
Norfolk & Portsmouth Traction _1225 North Butte Mining
Total
23,848,716 22,300,556
1104 --V. 86, p. 480 337.
Philadelphia Company
1220 Pennsylvania Steel Co
1157
Sao Paulo Tramw. Light & Pow_1282 Pittsburgh 011 & Gas
1104
Third Avenue RR. system
Norfolk & Portsmouth (Va.) Traction Co.
1220 Provident Loan Society, N. Y_ _1098
United Rys. & Elec. Co., Balto_1096 Schwarzschild & Sulzberger_ _ _ _1098
(Report for Fiscal Year ending Dec. 311907.)
United Railways Investment_ _1221 Security Investment Co., Pitts_1158
Washington (D. C.) Ry. & Elec_1221 Standard Screw
1228
President R. Lancaster Williams, under date of March 23
IndustrialsStreet's Western Stable Car Line 1105
American Beet Sugar
1222 Tamarack Mining
1105 1908, says in substance:
Anaconda Copper Mining
1283 United Gas Improvement
1158
General Results.-The year 1907 was an important
in the history of
113atoplias Mining
1102 Utah Consolidated Mining
1105 your company, and perhaps the most Important year era
in the history of the
Bush Terminal
1040 United States Rubber
1282 territory served by it.
Calumet & Arizona Mining
1045 U. S. Smelting, Refin'g & Min_ _1289
Notwithstanding the difficulties attendant upon the operation of the
'Cambria Steel Co
1041 United States Steel COrporation_1096
properties during the period of reconstruction and the disappointing atCanadian General Electric
1045 Waltham Watch
1282 tendance at the Jamestown Exposition, the results
of the operations of
Central & So. Amer. Telegraph..1040
the properties owned and controlled by the company during the year
were, upon the whole, satisfactory.
Missouri Pacific Ry.
The Exposition opened on April 26 and continued until Nov. 30, and In
the handling of the business incident thereto your eompan y handled ap
(Balance Sheet of March 311908.)
proximately 24,300,000 passengers and ran about 4,000 ,000 car miles
While the Exposition was not a financial success, we believe that It did
The balance sheet of March 31 1908 compares with that much
for the upbuilding, in a permanent sense,'of the territory served
of June 30 1907,asgiven in the last annual report, as follows: by your system.
Incident to handling the patronage of the Jamestown Exposition, which
GENERAL BALANCE SHEET.
included not only the transportation of passengers to and from the grounds.
June 30
Mai.31
but also the electric light, electric power and gas used at the Expositicn,
MM.31
June 30
1008.
1907.
it was incumbent upon your company to build a double-track line from
1908.
1907.
AtsetsOcean View to Sewell's Point, erect terminals at the Exposition, acquire
Road & equipt_ 78,412,5241a77,844,303 Stock ____
79,753,985 77,817,875 additional rolling stock, erect a transmission line and lay a gas main to
Real estate- -_- 1,504,802f
the grounds, rebuild and enlarge the Pine Beach pier, rehabilitate the
Bonds (see ____ &
Stocks and bds_112,355,422 92,696,107
Ind. Sec.)--.c87,056,000 85.012,000 Norfolk & Atlantic Terminal By. lines, build the Intramural Railway,
Mat. & supplies. 7,129,420 4,462,844 Equip. oblig'ns_ 10,580,262 9,808,350 and construct the Reeves Ave. power plant, &c.
1,126,443
Cash
2,926,206 Int. due & aced. 1,086,464
Improvements and Additions.-The Ocean View & Sewell's Point line
1,398,874
Discount on bds
Notes payable-420,000 had long been in contemplation as a permanent feature of the system arid.
sold
2,624,198 Accounts payle 11,208,063
It is expected, will handle a large business, particularly during the summer.
5,456,733
Sundry accounts
Dividend
1,945,438 months of each year. It is laid with 70-1b. rails and standard ties, and is
collectible
4,962,592 4,207,229 Special fund730,570 constructed entirely upon private right of way, except on 99th St. for a
Due from St.L.I.
Due Cent. Br.
relatively short distance. Its construction involved the building of two
2,704,886
Mtn.& So.Ity. 2,271,519
Ry.,
736,761
bridges, one of which is a standard drawbridge.
282,656
Other advances
Income account. 23,399,412 9,604,387
For several years prior to the acquisition of the Norfolk & Atlantic Terand miscell- 2,723,160 2,934,476
minal line by your company, but little money had been expended upon its
650.213
Adds. & bett'ts.
maintenance and rehabilitation was required. The road is now In standard
Construction of
operating condition.
new lines, &c. 82,684,833 2.016,634
The Exposition transmission line, which is of a permanent character,
will carry the power to the Sewell's Point piers of the Virginian Railway_213,820,927
192.476,883
assets.
Total
Tot.liabilities 213.820,027. 192,476,883 tot extensive permanent improvement in this territory. (See Tidewater
a Includes $7,302,219 equipment under contract and $2,506,131 equipment in Co.. V. 86, p. 1286.)
During the year your company purchased 84 new cars of approved types,
suspense "June 30 1907."
S Includes Jefferson City & Springfield 1111..89,527 Webb City spurs,$130,378; Webb 45 of which were equipped with Motors and all but eight with air brakes
City spurs, Fort Scott & Southern Ry., $42,431; Webb City spurs, extensions to for train service. The single-truck cars used prior to the Exposition, in
mean,' mines, s8,753; Webb City spurs, Granby extension, $207,604; Ft. Scott the city service, are now being sold.and our standard equipment will henceCentral, Gronogo extension, $80,107; new shops, Sedalia. Mo., $975,912; crusher forth be Improved semi-convertible cars with double trucks, enabling the
and gravel tracks, $1,077,981; Wichita terminals, $123,550; cost of surveys
to render better service and handle more passengers at slight.
at company
It any, Increased cost of operation.
various points on line of the Missouri Pacific fly. Co., $33,590; total, $2.684,833.
The new central power station on Reeves Ave., begun in July 1906,
C Includes, besides the bonds outstanding on June 30 1907, $2,147,000 of the
310,000,000 additional "collateral 40-year 4% gold bonds Just listed (making was ready for operation at the opening of the Exposition: The building
$27,147,000.thereof outstanding March 31 1908); also the $5,897.000 2-year 6% Is of brick, steel and concrete construction, thoroughly fireproof, fronting
"collateral and convertible gold notes," dated Feb. 10 1908 (V. 86, p. 286,) since 200 feet on the Port Warden's line of the harbor. It has 10,500-k.w. normal
largely converted into Kansas & Colorado Pacific refunding 68 (see V.86, p.1043)• capacity Curtis turbines of General Electric Company's manufacture,
divided into three units of 3,000 k.w. each and one 1,500 k.w., being suff -V. 86, p. 1160, 1043.
client to care for the needs of the territory for some time to come.
The construction of this power plant has permitted us to close down the
Georgia Railway & Electric Co., Atlanta, Ga.
Norfolk & Atlantic Terminal power plant, the Norfolk & Ocean View
power plant, and we shall shortly be able to close the plant at Cove St. In
(Report for Fiscal Year ending Dec. 31 1907.)
Norfolk, and the two power plants at present operating In Portsmotith,
President P.S.Arkwright, Atlanta, Ga., Feb. 15 1908,says: and the generating station at Ocean View. A new sub-station of fireproof
cbnstruction
be' n completed and Is now in operation at Ocean View;
Improvements, &c.-The total mileage of railway track, on a single-track and the Cove has
St. plant is being rapidly converted Into a modern sub-station
basis, owned and operated Is 181.1 miles. Of thli amount 10.4 m les were
equipped. An additional sub-station will be erected during the
built and 13.671 miles were entirely rebuilt during the year. Out of the similarly
ensuing year in Portsmouth.
total mileage 150.2 miles have been built or rebuilt since Jan. 1 1899.
Half of the cost o tha new gas main was paid for by the Exposition ComDuring the year $1,038,931 was expended on extensions of track, addi- pany.
Th main was
through a rapidly growing section of Norfolk
tional double track, additions to steam and electric plants, additional oars and will be a permanentlaid
asset of great value to the Norfolk City Gas Co.
equipment,
and
acquisition of land and construction of buildings, and addiThe Intramural Railway, constructed and operated under an arcane tions to car Shons. nod additional mains, services, meters and impro.te
meat with tho Exposition Company, proved unprofitable, and the net loss
ments for the Gas Company.•
up,ni his irlua been charge o t fprotlt and loss.
1340
THE CHRONICLE
[VoL. Lxxxvi.
There has been appropriated from the surplus for further depreciation
$1,867,399 in im
Outlook.-During the year the company expended
In additIons'and,extensions, qt properties, 5300,000.
provement8 dud betterments to the properties,
The
improveproperties.
new
of
acquisition
and in the construction.and
Treasurer James L. Ashley says:
been Stated,and the acquisition of new
and
ments, some of which have already
a very decided inin
result
profits are computed on the sales actually made to customers,
believed,
The
is
1t
will,
equipment,
in proeds
property•and
not only at present, but in the all inventories are taken at cost. Finished material and material
over
payable
crease in the revenues'of your company,
accounts
in
increase
The
profits.
constantly to improve its service and Include no inter-company
for the purchase of
future, and will enable the cumpanyThe
standard of the entire system has last year is accounted for by unmatured obligations
reduce Its ratio of operating cost.
of fine sliver Is held
silver ores, against which the corresponding amount
supplies, &c.,
material,
been materially raised,„,
of
purchases
other
im- and Included In Inventories. All
Note Issue.-Floanclal conditions have been such that it has been
bonds are paid for In cash. The major part of the company's cash on hand Is In
possiblei for your company to sell,upon advantageous terms sufficient
Interest.
of
rate
full
been
drawing
have
to take care of its construction expenditures. Arrangements secured by the trust companies
completed .for. notes of two, three and four-year maturities, liquidated
President A. Monell says:
collateral. A large proportion of the floating debt has been
falls of the Spanish
During the past fiscal year the power plant at the
through the sale of these notes since,the close of the fiscal year, Dec. 311007.
In successful
in the province of Ontario, Canada, has continued
&c.
River,
CTION,
IMPROVEMENTS, ADDITIONS, RECONSTRU
1906.
operation.
1907.
been comhas
compressors
The Installation of electric mine hoists and
third unit at the
1. Reconstruction of properties and equipment
pleted and the machinery Is now In opt-ration.of The
erection.
(in 1907, paving,,,$14,786; reconstruction of
course
in
power plant, also referred to, Is now
from the
tracks, $130,114: reconstruction and rehabili'L',I70
The board of directors has deemed It advisable to appropriate
$183,440
tation of cars, $38,540)
the properties.
surplus a further sum of $300,000 to write down the cost of
2. Improvements and betterments (in 1907, chiefly,
sheet.
balance
This Is set forth In a special entry upon the
arts have been
si48,091 for cables and conduits, $37,4-58 for
Our efforts to introduce nickel Into new commercial
underground system, $15,130 for overhead sysvigorously continued.
latter part
the
tem and $22,016 for meters, and $36,526 for
especially
As the business conditions of the past year,
• 103,716
332,221
our own
track and. roadway construction)
thereof, are so well known, It is hardly necessary to state that
3. Additions and extensions183,285 business felt the general depression.
863,345
Power-house and sub-stations
347,604
Cars and equipment
RESULTS FOR YEAR ENDING MARCH 31.
2,608
74,131
Electric-plant equipment
1904-05.
1905-06,
1906-07.
96,482
• 1907-08.
50,049
Ocean Point & Sewell's' Poiht Line
21,371 Earnings of constituent
16,608
Miscellaneous
companies (administra$452,932
$1,867,399
tive and selling expenTotal of
-,
$2,434,052 $2,853,281 $2,005,003 $1,430,382
ses deducted)
144,667
NORFOLK & PORTSMOUTH TRACTION CO. AND ALLIED COS.
147,000
159,055
215,975
& renewal funds_
Deprec.
YEAR.
FOR
CALENDAR
ACCOUNT
COMBINED INCOME
1906.
1907.
$1,285,715.
1906.
$1,948,003
$2,694,226
1907.
$2,218,977
earnings
Balance,
3,725
$
$
Deductions9,737
369
$
$
Other income
.95,1721
Gross earnings_ _2,616,458. 1,719,546 Taxes ahd licenses__
$1,280,438
rentals
61,5991
$1,957,740
Ferry
$2,694,595
1,113,883
$2,218,977
net
Income
Total
Oper., expenses_1,655,654
118,081
Lease Norf.Ry.ec Lt. 42,626501,556 General expenses
00,207
'
• 164,187
149,583
-"-=•,-,-,---'
605,663 Interest on bonds_ _ _462,057 I
Net earnings_ 960,804
•
debt
$1,171,357
43,354J
floating
on
$1,858,533
Int.
$2,069,394
$2,530,408
170
,
,Other Income__
2,283
$503,263
$407,900
'Other charges
$482,050
$490,175
Interest on bonds
,
Extraor. expend.•_ _126,508 12,033 Dividends on preferred_ (6)534,733 (6)534,730 (3)267,361
,
513,580
$668,094
Total deductIons_833,599
$1,052,611 $1,505,503 $1,093,272
Surplus for year
605,833
Gross income_ 950,804
_127,205 92,244 Previous surplus
763,251
987,630
1,755,617
1,100,848
Balance, surplus over charges and extraordinary expend
expendi$2,808,228 $2,606,351 $2,080,902 $1,431,345
Total
*Deductions from surplus for depreciation and extraordinary
$443,715
$114,054
$94,352
$89,484
Exhaustion res, adj., &c_
tures Incident to Jamestown Exposition service, &c.
266,000
168,250
161,250
.
Sinking fund reserve_._
i.VCOME ACCOUNTS OF CONSTITUENT PROPERTIES FOR
.
foreigneonstit
for
Reserve
1907.
CALENDAR YEAR
,
'28,826
cos., not Included
Norfolk & Norf.&Oe'n Depreciation
600,000
300,000
reserve_ _ _ _
Norf.&P.Trac.Co. Intramural E.Rtver&II.R. Ad.
600,000
Term'l. View Ry.,&c
Ferry Co.
(tnel. City Gas(Jo.) Ry. Co.
$59,09/
$417,013
$1.025
$987,030
$10,875
$2,216,799 $1,765,617 $1,100,848
Total surplus
Gross earnings_$2,128,448
64,437
'274,256
4.987
7,485
Oper, expenses 1,304,489
90.
, GENERALE
RAL BALANCE SHEET MARCH 31.
8
,
..._
det. $5,340
1907.
$142,757
1908.
1907.
$3,390 def. $3,962
Net earnings $823,959
$,
$
$
Liabilities- ,
$
Assets-60.8041,534
Other income_
Property account_27,645,913 26.942,182 Common stock - 8,822,662. 8,822,662
--$3,786
8,912,626
def.
$142,757
8,912,626
-stock
47,080
Preferred
$3,962
57,832
--_-def.
Investments
$3,390
Gross Income..$884,763
n-,
Stocks of cons. cos.
Advances teo
Deduct210,225
ens--not held by Int.
308,927
Interest, taxes
$6,898
$32,079
Nickel Co
$74
Inventories at cost 3,484,948 2,480,087
$334
and rentals_ $665,424
9,3g1,231
1
1:t2
39,314
472,595 Net bonded debt- - 9,44
Accts. receivable-- 385,433
87,194
Adjustments*_
.
800,000 '
.59.694
Bills
charges,
payable_
Deferred
4,977
Other deduet's
eon.64.989
payable
Accounts
oper and
--4
98
06
0:6
866
$6,898 Bills receivable- 127,929 ,
$131,087
and pay-rolls- 1,409.173
• $74,
• $5,311
Tot. deduct's $752;618
12,877
$11,670 def. $10,654 Miscellaneous adAccrued taxes_ _Bal., surplus-- $132,145 deL. $1,921 def. $4,036
246,225
234,350
35,650 Bond interest Apr_
vances, &c_- - -133,683
inci- Cash
42122:39'4357
314,505 Div. due May-- 133,683
*Deductions from surplus for depreciation and extraordinary expenditures
467,667
Depr., insur., &c. 453,093
,
dent to Jamestown Exposition service, &c. - ,
1,755.617
9
!Profit & loss surp_*2,216.79
SHEET DEC. 31
.
NORFOLK • de PORTSMOUTH TRACTION CO.-BALANCE
•
•
1907 AND JULY 1 .1906.
.32,401,798 30,611,778
32.401..798 30,611.778 Total
Total
July 1
Dec. 31
July
Dec. 31
1906.
1907.
and 'accounts of
properties
1906.
at
1907.
depreciation
deducting
5328.820
for
reste
After
*
Liabilities-84. p. 1303. .
Assets-6,000,000 6,000,000 foreign constituent companies no InOuded.-V.
Capital stock
Property, fran10,434,640 8,081,820 1st M. 5% bonds
United States Smelting, Refining & Mining Co.
chises, &c
($5,375,000), less
x1,045,898 , 139,300
Investments
treasury bonds
(Report for Fiscal. Year ending Dec. 31 1907.)
Real estate availa4,417,000 2,000,000
24,801
($958,000)
33,302
ble for sale
be
to
bonds
M.
1st
W. G.'Sharp, May 1 1908, says in Substance:
President
Advances 'to conIssued to synditrolled companies '520,948
Output, &e.-The following table shows (1) the metals contained in
1,500,000
cate (see contra)..
40,098
from custom ores, but not inMaterial & supplies 133,420
22,500 bullion produced in 1907, including metals
20,000
59,613 Equip, car or. notes
the average prices at which metals
Acc'ts receivable_ - 122,728
38,000 cluding the production In Mexico, and (2)
*Bills payable_ --- 1,346,129
Jamestown Exposiare inserted for compari1006
for
figures
during
the
[the
year
641,411 202,660 were sold
Acc'ts payable__
37,707
tion Co-son-Ed.j:
3,934 Reserve & conting't
Average Price--Bills recelval:le---275,537
Production
16,597
22,600
liabilities
50,844
25,285
1906.
1907.
Prepaid & res. acc'is
1906.
1907.
37,430 Acer'd bond Int.,
15,702
$0.1883 $0.1947
Cash
lb.
Per
lbs.
33,856,287
lbs.
38,518,378
Copper
49,105
48,910
taxes and rentals
0.550
0.0520
lb.
Cash to be paid by
Per
lbs.
27,828,044
lbs.
53,517,324
149,118
28,979 Lead
8urplus
0.684
organIz'n synd'te
4,852,293 ozs. 'Per oz. 0.6520
6,739,269 ozs.
Silver
1,420,000.
for $1,500,000 bds
162,537 ozs.. Per oz. 20.5600 20.320
235,822 ozs.
Gold
year.
12,645,168 9.857,840
Total
The quantities In 1907 include metals unsold at the end of the -Eureka.
12,645,168 9,857,840
Total
The tonnage of ore produced from your own mines (Centennial
$977.798, namely: 793
which the
x Includes stocks and bonds of constituent companies,Co.;
Mammoth and United States Mining) was 406,748 tons, ofcopper,
Suffolk
500
shares
Terminal
Coast
Atlantic
4%
shares City Gas Co.: 400 shares
of the metal contents were In the proportion of 56%
values
H.
shares E.
Light & Ice Co.; 5,000 shares Norfolk & Atlantic Terminal Co.; 170
lead, 18% silver and 22% gold.
Ocean
&
Sty.
View
Norfolk
bonds
$1,000,000
30
and
June
shares
operating
1,000
Co.;
& H. R. Ferry
The Compania de Real del Monte y Pachuca began
extracted from the
Co.; other investments, $68.100.
bills payable have 1907 and during the latter half of last year the tonnage
the
of
contents
metal
*Since the preparation of this report substantially all of the
the
while
mines in Mexico was 39,023 metric tons,
own mill at
been retired by the sale of an issue of two, three and four-year 6% notes.
ores Shipped to smelters and mills, including the company's
Pachuca, were 1,557,854 ozs. of silver and 7,324.61 ozs. of gold.
BAEANCE'SHEET OF ALLIED COMPANIES DEC. 31 1907.
combined
the
forth
sets
Balance Sheet.-The consolidated balance sheet
Nor!.dcAd. Nor.&Ocen Nor.Ry.& C'y Gas Co•
are:
assets and liabilities of the company and its subsidiaries, which
Term.Co. ViewIty.Co. Light Co. of Norfolk
or a
whole
the
either
owns
also
which
Co.,
Mining
United
States
b
$
$
1. The
$
Assets-Centennial-Eureka
1,452,610 1,096,503 5,160,871 1,139,891 majority of the stocks of United States Smelting Co.,States Stores Co.,
Property, franchises, &c
Co., United
447,570
Co.,
Copper
Mining
Mammoth
Mining
Investments
57,184 United States Lime Co. and United States Metals Refining Co.; and also
7,804
4,896
, Accounts receivable
a
26,631 owns one-half of the stock of the International Metals Selling CO. and
2,312
aterial and supplies ' • •
.761 majority of the stock and bonds of the Niagara Mining ec smelog Co.
1,847
2,723
,'Prepaid insurance and taxes-- _ --- -the
of
maJority,
a
and
stock
1,828
2. Your company owns all the preferred
'Deferred operating expenses
has acquired during
734
def.1.338 common stock of the American Exploration Co., and Mining
494
.
'
Co.
30,422
the year additional holdings in the Richmond-Eureka
'Real estate available for sale
Real (ICI; MO,nte
the
of
stock
12.667
3. In addition to the nine-tenths of the
;.Nerfeik & Portsmouth Traction Co _
acquired durtilk the
Mining Co. of Maine already owned, your companynamely
15,934 all*, 8.
1;463,036 1;106,888 5,651,529 1,224,956 year all the remaining capital stock of that company,
Total
of shares of;preferred
which were received In exchange for an equal number
• 1
Liabilities-& mining Co. Throtigh
Refining
United
1,650,000
the
States
of
Smelting
500.000
100.000
stock
500,000
'
Capital stock
500,000 this ownership your company is the holder of over 00% of the stock of the
500,000 1,000,000 4,000.000
First mortgage bonds
36,471 Compania del Real del Monte y Pachuca, in Mexico.
, 5,561
,Bills t payable,....
, 2,653
the con28,777
7,788
The liabilities from one company to another are eliminated
-, '392,817
Vouchers and accounts payable
5,044 solidated balance sheet from both liabilities and assets.
Consumers deposits
2,760
Capital Expenditure in 1907.-There has been paid and charged to capital
15,088
Accrued bond Interest and taxes
4,453 account for additional stocks acquired and for construction and other addi2,364
Reserves and contingent account
1,529
147,250 tions to property in 1907, 54,681,520, as follows:
52,479 def.8,825
Surplus
$908,400
Refineries at Chrome and Grasselli
1,403,036 1,106,888 5,651,529 1,224,956 Smelter buildings and plant at Bingham Junction, Mammoth
Total
1,390,692
-V.86, p. 1225.
152,837
Mine eqdCuhirpommeent. and buildings
179
Railroad and tramway construction
International Nickel Co., New York.
187,
537,084
capital
expenditure
Other
(Report for Fiscal Year ending March 311908.)
Additional investments In stocks of subsidiary companies, Ineluding assessments for development and construction in Mexico_ 2,004,428
The directors, under date of May 26, say:
Stockholders.-The total number of preferred stockholders Is 5,104 and
During the past year $1,548,482 was expended for new construction,
of common stockholders 1,405 at this date.
equipment and replacements.
American Exploration Co.-Notice was given to your company on Sept.
During the same period there has been provided out of earnings the
to the contract of their desire to dissolve the
sum of $478,577 for the following funds: Regular allowance for depreciation 23 1907 by the other parties
Co. All new exploration work has been stopped
of plants, $215,975; exhaustion of minerals, $94,352; and bond sinking American Exploration
such
and dissolution.
to
liquidation
preparatory
$168,250.
fund,
1341
THE CHRONICLE
MAY 30 1908.i
General.-At the Mammoth plant In California there has been completed
during the past year the enlargement of the smelter; also the converting
plant and the railroads connecting the mine and the smelter and the
Quartz H111 mines with the Southern Pacific By. These are now (April
1008) all in operation and will nearly double the smelting capatity at
Mammoth, and permit the converting of Mammoth matte into copper
bullion at that plant in place of shipping the matte to Utah to be converted as heretofore. Ores from the Centennial-Eureka mine also can
-be shipped to the Mammoth smelter In case of necessity.
At tile smelting plant in Utah many additions were made with a view
to avoiding damage to the surrounding farms by smelter smoke, and the
United States Circuit Court has recently modified its decision so as to permit the operation of your lead smelter. Preparations are being made to
resume at your Utah plant the smelting of custom ores and ores from your
Centennial-Eureka and Bingham mines.
The balance sheet shows a decrease of 11,433,569 In the surplus, due to
the abnormal metal market conditions in 1907. A large part of this de•crease is represented in the reserve provided out of earnings. In our custom smelting business the necessity of carrying in stock large quantities
of metals in ores and in process at the smelters, in transit to and in process
at the refineries,for periods varying from three to five months, resulted in
heavy losses due to the stagnant metal market and the rapidly declining
prices. These losses had to be written off Dec. 31. Your company starts
the year 1908 with all stocks of metals, &c., marked down to market values
at Dec. 31, when prices were practically at the lowest level of the year.
On an advancing market gains will be made in these items.
EARNINGS AND OPERATIONS OF ALL COMPANIES FOR YEAR.
Value
Value
Average
BUIlion
Per
1906.
1907.
Price.
Produced 1907.
Cent.
1 $6,501,068
38,518,378 lbs. $0.1883 1
37 Copper
1,536,757
0.0520 1.18,408,655i
53,617,324 lbs.
14 Lead
I
3,317,578
0.6520 i•
6,739,269 ozs.
23 Silver
3,302,343
235,822 ozs. 20.5600 J
26 Gold
100
Metals in bullion produced
Selling commission and shipping expenses
_118,408,655
161,071
$14,747,746
111,667
. $18,247,584 114,636,079
Increase during year In ore and matte in hand and
497,469
dec. 444,646
in transit (metal contents)
16,026
179,157
Allscellaneous earnings from royalties, rentals, &c.
$17,982,094
Total income
Cost of production, including custom ores and
16,154,513
matte purchased
Consolidation Coal Company (of Maryland).
(Report for Fiscal Year ending Dec. 31 1907.)
President C. W. Watson, Baltimore, March 18 1908;
says in substance:
Tonnage.-The total output for the year of coal mined by the company
was 2,092,016 tons as compared with 2,128,879 the preceding year, being
a decrease of 36,863 tons. This output was obtained as follows:
1906.
Mine.
1906. 1 Mine.
•
1907.
1907.
Ocean No. 1 _ _ _ _ 439,395
494.577 Ocean No. 7_ _ _1,083,423 1,084,156
115.662
Ocean No. 2_
70,355
3,13910cean No. 8 _ _
31,435
Ocean No. 3_ _ _ 314,873
37,849
273,619'Ocean No. 9_ _ _
Ocean No. 33i _ _ 136,439
16,424
9,682
109,867'Pumping Station
The coal mined by lessees of the company on royalty amounted to
420,463 tons, as compared with 368,292 tons for the year 1906. an increase
of 52,171 tons.
Railroad Department.-The coal tonnage handled by the Cumberland
& Pennsylvania RR. during the year amounted to 3,718,786 tons, distributed as follows:
To Balt. & Ohio RR_2,900,936 tons1To Chesap. do 0. Canal 203.527 ton
To Pennsylvania RR_ 416,592 tonsiTo local
197,731 ton
This onnage Is a decrease of 47,362 tons as compared with the preyear.
ceding
Rolling Stock.-The stockholders of the Cumberland & Pennsylvania
RR. Co. on Dec. 5 1907 authorized the purchase of 1,000 steel underframe
coal cars of 100,000 pounds capacity; also 523 wooden coal cars of 60,000
pounds capacity.
INCOME ACCOUNT FOR FOUR CALENDAR YEARS.
1907.
1906.
Coal mlned by co., tons_ 2,092,016
2,128,879
21
,9
096
05.
.213
1,833,371
Earns-Mines, RR., &c_ $4,643,804 14,310,648 $4,165,437 14,130,589
374,195
497,232
Other income
312,048
331,703
Total recelpts___ __ 15,017,999
Oper. exp. depr.,on milling plant and taxes__ 2,977,122
$4,807,840
$4,477,485
2,877,405
2,902,491
2,995,589
$2,040,877 $1,930,435 $1,574,094
Net receipts
DeductInterest on debt (incl.
1,247,204
1291,986
$295,905
C. & P. RR.)
121,703
Reserve fund
Sink fund (Incl. C. &
49,340
124,887
125,499
P. RR.)
39,661
Int. on spec. bills pay'le
54,740
Marine insurance
(8)820,000 (8)820,000 (6)615.000
Dividends
95,073
87,004
78,122
Depreciation
6,322
6,736
4,723
Miscellaneous
$1,466,703
$4,462,292
$15,149,574
11,578,551
13,571,023
$1,827,581
Net
Misc. revenues, Int. earnings and proportion of
356,484
558,960
profits of refining, selling and exploration cos
--$3,927,507
$2,386,541
$244,744
1120,009
Deduct-Depreciation fund
166,318
148,242
Administrative and legal expenses of all cos_
30,000
30,000 •
Int. on 6% debentures of U. S. Mining Co._ _ _
$2,070,214
Profit for year
$1,948
Dividends on minority stock of subsidiary cos...
Dividends on pref. stock of U. S. Smelting,
1,672,348
'Refining & Mining Co. at 7% per annum
1,096,232
Dividends on common stock, 64%
$3,504,522
$5,368
1,508,581
def.' $700,314 sur$1,990,573
!'Balance
[In 1901 two dividends of 1 4% each were paid on the preferred stock
(then $1,031,400), none since till 1907. In 1904 the stock was changed
to present amount. V. 79, p. 790.1-V. 86, p. 872.
*Values not given separately in 1907 report.
-UNITED STATES SMELTING, REFINING & MINING CO. AND
SUBSIDIARY COMPANIES.
CONSOLIDATED BALANCE SHEET DEC. 31.
1900.
1906.
1907.
1907.
Liabilities-Assets'Cost of propertles_39,341,835 34,656,855 Common stock...17.547,062 17.516,850
Preferred stock- _24,292,725 23,484,813
'Shares held for exCap.stk. of subsid.
change of stocks
cos. not held by
„ of other com7,200 U.S. SmItg. Ref.
7,162
panies
do Mg. co. (par) 1,033,750 1,039,875
Tot. can't assets 39,348,997 34,664,055 Debs, of sub. cos.
outstanding_ _
500,000
500,000
'Deferred charges to
_48,039 Current sects and
• operations _ - -. 102,044
708,587
'Ores and
- 746,286 1,290,682 acced pay-roll-- 690,524
243,000
500,000
Drafts in transit-•
•Iilupplies, matte_fuel and
3,331,398
timber
443.858 Bills payable.'
847,120
200,397
Res'ves for fet,&c. 378,554
Metals In transit dr
• In process_
- 6,061,213 6,285,202 Divs;„decI'd (paid
600,581
409,185'
368,842
Notes receivable
794,048
444,744'
830,657 Depree'n fund-- 617,446
Acets receivable
968,987
969,528 3,047,170 Undiv'd sun). tipCash ------- - - - ,
plic,bie to stocks
of Ittb. cos. not
hel by U. SS.,
Re1!'5, Mng.Co_
46,229
73,482
Prone& loss surp_ a557,003 1.990,573
$88,144
106,526
46,305
174,115
(4)410,000
103,683
17,594
$1.389,470 $1,321 731 $1,172,704
$651,408
$608,704
$402.290
BALANCE SHEET DEC. 31.
1907.
1906.
1907.
$
LiabilitiesAssets$
$
Mines,real est.,&e. 8,647,339 8,625,332 Stock Con. CI Co_10,250,000
Cum.& Penn.RR_ 4,848,716 3,526,904 do Cum.&Penn.
Reserve fund Inv_x2,093,396 2,064,867
RR
1,500,000
Steamers, tugs,
Bondsbarges. &c
565.577
690.006 ' Consol. Coal Co_ 8,250,000
Canal boats
58,855
61,623
Cum.doPenn.RR.1.000.000
Shares of other co's
Car trusts assumed
(book val.)-- - -y5,985,845 5,985,795
by C. & P. RR_
881,000
Company's own
Sinking fundbonds in treasury 1,010,000 1,103,000
Con. Coal
_ - 342,385
Consol. Coal Co's . ,
Cum. do P.CoRR. 438,241
mtg. sink. funds 342,384
230,605 Reserve fund
2,104,551
Acc't'Int, on bds-.
Cum.& Penn. RR.
63,909
1st M.sink. fund 438,241
393,796 Acc'd s. f. on bds..
86,666
Traffic balances- - • 6,775
Bonds to retire
outstand'g bds_ 1,750,000 1,750,000 Pay-rolls
93,316
Insurance fun - - 266,166
266,166 Marine ins. fund
266,166
Materials -------152,795
165,314 Bills & accounts
payable
Due for coalsold-- 595,753
586,922
273,645
Bills Si acc'ts recle 2,377,088 2,187,244 MisCellaneous - 12,102
Cash
534,070
249,525 Dividend payable
Coal on hand
239,856
277,288
Feb.1
358,750
Miscellaneous - - - - . , 50,788
;60,677 Profit dc loss surp_ .4,029,367
Total
Surplus
$946,367
$520,336
1906.
10,250,000
1,500,000
8,250,000
1,000.000
230,605
393,796
2,097,451
43,.523
85,053
13,123
85,298
266,166
238,837
19,655
358,750
3,392,807
Total
Total ___ ------ 29,956,871. 28,225,064
29,956,811 28,225,064
• x Theee include 24,702 acres Pennsylvania coal lands, $720,445; 11,566:acres
W. Va. coal lands, 189 acres surface land, $1,233,120; Cassville & Monongahela
RR.Co.stock ($20,000,000),$4,491; Pittsburgh & Fairmont Fuel Co. bonds($146,.
000), $135.340.
•
y. Stocks owned, total par value,..$10,178,500, via.: Cumberland & Pennsylvania
'Mt.Co., $1.500.000; Fairmont.Coal Co., $6,001,300; Somerset Coal Co.,$2,001,100:
Coaetwise Transportation, Co:. common, $74,500,.and preferred, 174.500; Canal
49.838,224 46,978,504 Total
49,838,224 46,978,505 Towage Co., $5,000; Md. Construction & Contracting Co., $20,000; Metropolitan
Total
.
'Coal Co., $501,100; Rapid Coaling & Transfer Co., $1,000.
'After deducting $733,255 reSefve to write down book value of metals
,
z These include $14,450 undistributed expenses.
Unsold at end of year, including Metals in process and In ore stooks to ,
of
the
subsidiaries,
reports
the-Fairmont
also
the
Coal
See
,
market values at Dec. 31 1967.-'-'V.,86. p. 1280, 55.
Standard. Chain Co. •
(Report for Fiscal Year ending Dec.. 31 1907.)
RESULTS;FOR YEAR ENDING DEC. 31.
." 1007.
bondInt. and depree'n ($15,000 In '07) _1128,18.6
income
over
• Net
32,818
Dividends on.preferred stock, 7%
,
105,318
13alanee, surplus
1006.
194,991
$94.09;
I, „Vim-pallet gain'' for 1004 before making proylsion for depreciation of
plant ,!211111terest on boads was 445,823.
01
. •
13 LANCE:SHEET DEC. 31',
•
1907.
1006.
1905%
•
• $
*1,131,353
1,111,528
1•Cdst
• 't!q• roperty
1,097,977
Stpck, d 1st meat. bonds pledged
84,707
84,707
• Avit1( ortgage trustees
- • -77,090
77,000
at. Inetr age'bonds pledged for loans.:
(a)
"
dhn C. chmidt,:trustee, stock. purrvs
laic.
cost.'
- - ,f'•
:,16
z
Chinstock
_Co. of Can.
". 21;140
23,411
21.,888
noteS
receivable
'
176,104
• 216,899
2(35927
384044
terl 1 find Supplies
•
290,2.45
501754
11 ,rdim
,.' 1,952,158 ' 1,861,8118. 1,507,812
, f
,
tabtlilles-' 515,700
efertea Str;c1c__..... ,
47.4,700
115,700
_
Common stock.__.'.2'84,871
284,871
271,164
545,000
First mOrtgagebnatis_
'561,000
a474,000
233,010 ' 243,702
Notes and accounts'payable
236,926
11,570
Accrued wages
'12,355
14,022
Accrued Interest and taxes
14,338
12,026
.
8,428
Unpaid dividends
25,000
.:;13eserve for depreciation
10,00o
314,947
219,842
, Surplus _
129,000
..
•l
Total---- -
--- _____
1,912,558
1 ,861 ,818 .
1,597,812
a Of the first''Mortgage bonds issued -loriginally 1700,000)'194,001) were
• bu Dee. 31 1905 in t'',e treasury of deposited with van] ,os hanks as e'llateral;
„bet these are not given among assets; being deducted before arriving at
• Gat flgUreS:dhown under liabilitieS.
•
Co. and the Somerset Coal Co., below.-V. 86, P. 723.
Somerset Coal Company.
(Report for Fiscal Year ending Dec. 31 1907.)
This company, ,controlled by the Consolidation Coal. Co.
(which see above) reports as'follo4s:•
Production of' the Company, Since its Organization Feb. 1 1002,
Cal.
1
' . Coal:
'coke. •i-,.Cal.
Cate.
'
- Coal.
Year
(gross tons.)‘(Net tons) I -Year.
......(gross tons) (net tons)
1942 11 mos-- 1,222,331 27,81711905
1,352,.539 50,183
1903
'
1,177,982 45,4981/9061,533,714 25,868
883,493'
1904 •__ ____-__ _
27111907 -- ------1.750,984, 65,744
,. OPERATIO.YS AND FISCAL.R.ESUI,VS......,,
.,i,_, .•• • .-a
.
1907.
1006. I ,.
.,
"
. fgQ7;;,:i4?,14
•4 •
----9.368,865 1.957.370Ithterest on bonds,,,.,,,I I 9 ,•,152.
GrOas earnings
,Oper. exp.. deprn .
IIIlterest on4ogna4,..,.28,, 0,6
., Of plant & taxes l.903.830 1,577.521 Illoyalttes
-'---- -t,
7--- IS.Inking fund ,:. .,.:;.52.319 .
- •
-"--Net earnings- -- -..465,035 379.8501I.nsuranceh••••-•.4-4
19
,
Misc. incotne-1_150,065 .26,8401
....iv:, r -f ;Ow-. , ._ro P lior_for.
i• Total
-------298,688' 246,452
:c Total
615,100 406,681.D,kamplus for year, .,. .116.412 14;60.237
GENERAL BALANCE SHEET DEC. 31.
,-,!..'Or ,
' 1907. '1
1906. ,'", -- •
- - • - - 1907:• :.• ir1906;',
' , - 9
. Assets-''•
-$ . ''.• .-Mobilities-,- 3thc, $ ,n1- ,rr. ;$ 1
Mffies & real estate 7,069,049 7,067,156 Capital stock
.4,000,000.,44000,000
'Plants & equipm't 1,479,786 1,171,512 let•M. bda:'(V. 74y
- 1, . ;:lff.-'. i
•
964,519
'Car equipment_
p. 382, 430)- - - - 9,000,000 - 4,000,000
236,218
Stoking fund__ _ _
151,677 Sink. fund.reserve • 236,218
151,677
..
Calls on hand .and
Pay-rolls - . •
56,588
46,080
In banks
123,983
-53,159 Accounts payable- - 83,737
134,521
329,000
Treasury bonds_
490,000 Bills payable
250.000
250,000
Ada.rollat. to loan 500,000
500,000 Accrd int. on bds..
66,063
65.167
Indiv. & co's for
Car trust bonds.-- _ - '
916,000
coal & coke sold341,085
291,616 Infily. & comp's
38-0,467
224,028
Coal & coke on li'd ' 58,858
26,571 Miscella4teotis,-I1C.' .•10,977
8,070
96,986 Profit and loss_ - _ .. 1,245,904
Bills & acc!ta ree'le 172,437 992,224
6,650
Securities owned- 6,650
Miscellaneous -- -16.936 . 17,902
----.---,--Total
10,329,952 10,787,768
Total _ _ ._ J.-...10,329,952 10,787,786
-V.86, p. 725.
-
,
$
I
•
!: i
','
..
_
..
,
.,,,,,.....p,
t
THE CHRONICLE
1342
Fairmont Coal Company.
(Report for Fiscal Year ending Dec. 31 1907.)
This company is controlled by the Consolidation Coa
Co. (which see above.)
President C. W. Watson, under date of March 18 1908,
writes in substance:
Explosion.-The stockholders are no doubt familiar with the deplorable
accident that occurred at Monongah Mines Nos. 6 and 8, on Dec. 6, by
which 353 persons came to their death. The coroner's Jury found from
the evidence that the explosion "was caused either by what is commonly
known as a blow-out shot or by the Igniting and explosion of powder in
Mine No. 8;" also that while the evidence as to the cause of the initial
explosion was conflicting "the tiaces of gas In these mines were slight,
and not considered dangerous, and dust which was created was removed
or kept watered down as far as was deemed piacticable, and that in operating these mines the company complied with the mining laws of the State."
Thorough repairs have been made at both of these mines and they resumed operation, Monongah No. 8 on Jan. 28 and Monongah No. 6 on
Feb. 5.
Sale of Coal Cars.-The stockholders, at a meeting held on Dec. 5 1907,
authorized the sale to the Baltimore &•Ohlo RR. Co. of the 2,000 coai
cars the purchase of which was mentioned 'n the report for 1906. At the
aims meeting the sale of the Gaston Cos Coal Co. and West Fairmont Coal
& Coke Co. coal cars, owned by this company ,was authorized.
Production of the Company.
Coke.) Cal.
Coal
Coal.
Coke.
Cal.
(net tons) I Year.
tons.)
(gross tons) (net tOns)
(gross
Year.
3,934,217 314,75811905
3,748,230 106,085
1902
3,691 ,783 206,46811906
4,257,999 145,828
1903
3,750.176
68,473 )1907
4,323,882 151,277
19)4
EXPENSES
AND
CHARGES
YEAR
ENDING
DEC 31.
EARNINGS,
1907.
1906.
1905.
$4,860,328 $4,516,588 $3 518,674
Gross earnings
3,215,797
2.871,257
Oper. exp., deprec'n of plant & taxes 3,454,271
---------- -------1,406,057 $1,300,791
$647,417
Net earnings
205,305
174,650
67,500
Int. and divs. on securities owned.._ _
373,968
273,874
Miscellaneous income
253,496
---- ---- ---41,985,330 $1,749,315
Total
$968,413
$400,367
$288,696
$297,691
Interest on bonds
198,715
192,278
169,037
Royalties
88,388
86,900
76,083
Sinking fund
(2)240,000(4 M)540.000 (2)240,000
Dividends
89,660
67,615
27,300
Miscellaneous
40,306
25,986
21,411
Depreciation on car equipment
$1,038,541 $1,215,885
Total
$946,790
$533,429
Surplus for the year
GENERAL BALANCE SHEET DEC.31.
1907.
1907.
1906.
Liabilities-AssetsCapital stock
12,000,000
Plants, mines, real
17,172,470 16,972,404 Funded debt-- - 6,175,000
estate, &c
341,005 Collat. trust notes 2,000,000
61,583
Car equipment- _ _
1,164,000 Car trust 5% bonds
do under lease
Sink, fund reserve 539.675
Sink fund (bonds
15,156
447,399 unpaid coupons-of 1901)-- ----- a539,675
Bills payable_---- 190,000
Advanced paym'ts
23,270
388,407 Car trust notes.-on coal purchases 441,815
Pay-rolls
71,669
Bonds held to retire
196.000 Accounts payable_ 236,629
outstand'g bonds 176,000
240,000
129,180 Dividend
Cash for coupons--15,734
128,729
Accrued bond int_
Cash on hand and
174,315 Individuals a n d
in banks
464,.744
companies -___ 1,551,980
Treasury bonds__ _
322,000
287,000
50,531
Miscellaneous _--_
Individ'is and co's
for coal sold__ - 1,222,116 1,101,223 Profit and loss.-- 4,112,440
868,311
Coal&coke on hand 1,151,254
Bills&acc'ts recge12,331,191 1,320,074
Cl'ksb.FuelCo.loanf
368,996
Material on hand_ 393,422
Securities owned,
' book value
10,052,780 3,083,964
5,405
20,296
Miscellaneous
Total
$836,097
$132,316
1906.
42,000,000
6.196,000
1,164,000
447,399
129,180
600,000
114,540
104,937
421,994
360,000
20,212
1,823,487
30,476
3,470.459
Total ---------27,335,080 26,882,684
27,335,080 26,882,684
a Includes $417,0001 canceled bonds, $122,311 lands acquired and $363 cash.
b Includes stocks and bonds having total par value of $7,966,100, viz.: Northwestern Fuel Co., common, $1,350,000; Northw. Fuel Co., pref., $270,000; Clarksburg Fuel Co., $2,979,700(out of a total Issue of $3,000,000); Pittsburgh & Fairmont
Fuel Co., $1,787,000: Pitts. & Fairm. F. 5% bonds, $573,000; Southern Coal &
Transp. Co., stock, $500.000; South. C. & T. Co. 5% bonds, $400,000; other stocks,
$106.400.-V. 86. p. 723.
Standard Oil Cloth Co., New York.
(Balance Sheet of March 31 1908.)
I
AssetsPlant account, real estate,
5,400,000
good-will, &c
Merchandise, raw material,
1,060,619
finished goods, &c
14,789
Cash on hand and in bank_
211,536
Accounts receivable
26,736
Bills receivable
5,177
Office furniture
66,043
Deferred charges
LiabilitiesPreferred stock, 6% cum_3,000,000
Common stock
_3,000,000
Accounts payable
21,374
Bills payable
330,000
Reserves
173,203
Surplus
260,323
6,784,901
Total
Compare V. 84, p. 1185.
Total
6.784,901
Total
LiabilitiesStock outstanding
5% mortgage bonds
Reserve set aside to guaranteed bonds
Accounts payable
Working capital and surplus account
1006.
$3,783,236
3,600
794,613
006,153
$5,886,388
$5,487,602
$2,480,000
200,000
500,000
119,688
2,586,700
$2,480,000
215,000
500,000
133,532
2,159,069
$5,886,388 $5,487,602
Total
Dividends paid during 1007 and charged to surplus account,$1711.602.V. 85, p. 209.
GENERAL INVESTMENT NEWS.
RAILROADS, INCLUDING STREET ROADS
Boston Elevated Ry.-West End Consolidation Bill Signed.
-Acting Governor Draper of Massachusetts on May 28
signed the bill authorizing the consolidation of the properties
and franchises of the Boston Elevated Railway Co. and the
West End Street Railway Co. Compare V.86, p. 917.
Brooklyn Rapid Transit Co.-Coney Island Five-Cent Fare
Bill Vetoed.-Governor Hughes on May 23 vetoed the bill
passed by the Legislature, which, although general in form,
was intended to provide for a five-cent fare from Manhattan
to Coney Island.
The bill provides In effect that no railroad company (other than a steam
or trunk line railroad) shall charge more than 5 cents for a continuous ride
on the lines operated or controlled by It within any city or village unless
the Public- Service Commission shall give its consent for an additional
fare. The Governor says It Is plainly Intended to affect charges over
existing lines, establishing a maximum rate of 5 cents without regard to
the length of the route or the reasonableness of such a fare, which can'only
be determined after investigation. No provision Is made for this purpose;
In other words, it Is an arbitrary maximum imposed by legislative flat,
which, if unreasonable and confiscatory, would be upset on application to
the courts.
The public hearings by the Public Service Commission on the petition
of various complainants who desire it to fix a 5-cent fare for the Coney
Island service were closed on Monday and briefs were ordered to be filed
on Monday next.-V. 86, p. 1223. 1009.
Calumet & South Chicago Ry.-Bond Issue.-This company, recently formed by consolidation of the Calumet Electric and the South Chicago City Ry., has made a first mortgage to the First Trust & Savings Bank of Chicago, as trustee,
to secure an issue of $5,000,000 5% gold bonds of $1,000 eaoh,
dated Feb. 1 1908 and due Feb. 1 1927, interest payable
February and August at office of trustee. No prior liens, we
are informed, remain outstanding. All the new bonds are
outstanding. Press reports state that a block of $1,000,000
for rehabilitation purposes will be sold shortly. The capital
stock is also $5,000,000. The officers follow:
President, Ira M. Cabe; Vice-PresIdent, D. M. Cummings; Secretary and
Treasurer, 0. S. Gaither. Directors-Ira M. Cobe, D. NI. Cummings,
0. S. Gaither, C. B. Han,J. B. Forgan, L. A. Busby.-V.86, p. 1223, 917.
Carolina Olinchtield & Ohio Ry.-Mortgage.-The shareholders voted on May 25 to authorize a mortgage to secure
$15,000,000 30-year 5% bonds. The bonds will be dated
June 1 1908 and mature June 1 1938. There will be reserved
$5,000,000 for extensions, improvements and betterments.
The road will be completed this year from Dante, Va., to
Bostic, 208 miles, and by July 1 1909 to Spartanburg.
Compare V. 86, p. 667, 856.
Chesapeake & Ohio Co .-Consols Offered-To Become a
First Lien July 1 1908.-Moffat & White, New York and
Graham & Co., Phila., are offering at 112 and int. yielding
about 4.3%, the unsold portion of a block of $2,000,000 first,
consolidated mortgage gold 5s, due May 11939. Authorized
issue, $30,000,000; outstanding (including this $2,000,000),
$27,858,000. A circular says:
This block of $2,000.00) coasolulated 5% bonds has been sold by the
Railway Co. for the purpose of refunding an equal amount of series "A"
6% bonds falling due on July 1 1908, which toe company has arranged
with the trustee to pay off and cancel at maturity. By the retirement on
July 1 of $2,000,000 series "A" 6% bonds and $13,354 series "13" 6%
bonds,the consolidated 5% bonds enter the class of important lirst.mortgage
railroad bonds, becoming a first mortgage directly or through collateral on
592.9 miles of railroad, all of which, except 18 miles, is in the main line of
the Chesapeake ecOhlo Ry.-V. 86, p. 1041, 228.
Chesapeake Western Ry.-Judgment.-Judgment by default for $485,162 was rendered Wednesday in the Supreme
Court against the company in favor of Thomas Stokes, on
thirteen notes made by the company between Nov. 6 1902
and April 28 1904.
Further assets of the company were sold at auction Wednesday in liquidation of a loan. They consisted of 5,000 shares of the Pocahontas Company, 50 shares of the Midland Railway Co. and $79,500 Washington Cincinnati & St. Louis Railroad Co. first mortgage bonds and a tin box said to
contain maps, profiles. &c. The entire lot was bid in for $1,000. Compare V. 86. p. 1284, 980.
Chicago Burlington & Quincy RR.-New Bond IssueBonds Offered.-J. P. Morgan & Co., offered this week
at 953/i and interest $16,000,000 general mortgage 4%
bonds, due March 1 1958, interest payable March 1 and
Sept. 1. These bonds are part of an issue of $300,000,000
issued under an indenture of trust and mortgage dated
March 2 1908, under which the Central Trust Co. of New
York and Oliver M. Spencer are trustees. The bonds offered
were quickly oversubscribed.
The bonds are In the form of coupon bonds of $1,000 each, which may
be registered as to principal only or may be exchanged for full registered
bonds without coupons. In denominations of $5,000, $10,000 and $50,000.
Registered bonds may also be exchanged for coupon bonds.
Lee, Higginson & Co.were authorized to sell the bonds in
Boston.
Chicago Railway Equipment Co.
(Balance Sheets of Dec. 31 1907 and 1906.)
1907.
AssetsReal estate, bldgs., mach'y, pats. and good will__ 4,114,195
Office furniture and fixtures, Chicago, Detroit
3,910
and Jersey City
Material on. hand, Chicago,-Detroit, Jersey City.
764,241
Grand Rapids, Marion, Montreal and 1,Valkerville
1,004,042
Accounts receivable and cash
[VOL. LXXXVI.
Abstract of Letter from President George B. Harris, New York, May 25 '08.
Referring to the general mortgage dated March 2 1908 and maturing
March 1 1958, securing an issue of bonds not exceeding $300,000,000 in
the aggregate, of which you are to offer for public sale or subscription
$16,000,000, I beg to say that this mortgage Is now a first lien on about
3,070 miles of completed road, and on the retirement of the outstanding
bonds enumerated In the mortgage will become a first lien on the entire
railroad mileage enumerated in the mortgage, aggregating 8,599 miles.
Disposition of the $300,000,000 Bonds Secured by the Mortgage.
Reserved for the special purpose of retiring all outstanding
bonds of the company, of previous issues, at this date aggregating $167,565,000 (of which $17,428,300 are held in
various sinking funds)
*175,000,000
Issuable to meet expenses of retiring said prior bonds
2,000,000
To be Issued for reimbursing the treasury of the company for
outlays already made by it for betterments of and additions
to the property covered by the mortgage
45,000,000
Issuable only for additions,Improvements and betterments of
and to the mortgaged property, which, when acquired,
must be placed under the lien mortgage, thereby increasing
the mortgaged property by the full amount of such additions 78,000,000
Approximate Surplus Income of the Company. Available for Payment of
Interest and Dividends, for Years ending June 30.
1903.
1006.
1904.
1905.
1907.
$21,490.807
$21,958,265
$20,818,335
$19,280,042
$21,172,726
Interest and sinking fund payments for the year ended June 30
11)07
$3,017,518
The rate of Interest permitted by the mortgage on the bonds secured
thereby is such as the board of directors of the company shall fix, not exceeding 5% per annum, payable In semi-annual Installments on March 1
and Sept. 1 in each year.
The $16,000,000 bonds now offered for sale by the company are part of
the $45,000,000 issuable for reimbursing the company's treasury, and the
rate of Interest thereon has been- fixed by the board at 4% per annum.
MAY :20 1908.1
THE CHRONICLE
Called Bonds.-On June 1 there will be.payable at par and
interest by the trustees, No. 50 State St., Boston, $11,000
Tarkio Valley RR. and $10,000 Nodaway Valley RR. 1st 7s.
-V.86, p. 167.
Chicago Cincinnati & Louisville RR.-$1,000,000 Receiver's Certificates Authorized.-The United States Court
at Indianapolis on May 26 authorized the receiver to sell
at his discretion,for not less than par and interest,$1,000,000
6% receiver's certificates of 81,000 each, due in three years,
but subject to call on any interest day, the issue to have
a first lien on all the property and assets of the road. The
"Indianapolis News,"citing the decree,states that the proceeds are to be applied in part as follows:
Included in this is $40,808 for taxes; $81,334 for wages; $142,386 for
motley owed by the road for ticket and freight balances as agent for othe
common carriers; $202,093 for various repairs, new work and the purchase
of various necessary aritcles; $5,050 for additional work: $100,000 for rental
of equipment held under car trust agreements as they mature within the
next six months; $25,000 for the payment for seven new locomotives that
are nbw in the possession of the road; $120,000 for new passenger and
freight equipment to be purchased on a car-trust contract, on which not
to exceed 30% of the whole purchase price is to be paid; $60,000 for deficiency in receipts until June 1; $25,000 to build connections from the
C.C. AL. to lines of the Queen and Crescent at Cincinnati and the Kensington & Eastern between Hammond and Chicago; $160,000 for turnbies, roundhouses, coaling stations, water tanks, &c. Compare V. 86,
793, 856.
Chicago Joliet & Kansas City Ry.-Bond Issue.-A mortgage has been filed to the Carnegie Trust Co. of New York, as
trustee, covering this road, projected from Chicago west and
southwest to Joliet, Keithsburg, &c., in order to secure an
issue of $15,000,000 5% gold bonds due March 1 1938 but
subject to call after March 1 1913 at 105.
"To provide funds for the construction and equipment" of the road,
there were recently offered for sale in New York $6,000,000 "depositary
certificates" Issued against the deposit with the trustee of certain stock
trust certificates (representing "full paid" stock) and of certain of the
$15,000,000 first mortgage bonds, the latter to be sold and the proceeds
used to pay off the depositary certificates with 5% Interest thereon, leaving
the deposited stock to be distributed among the holders of the "depositary
certificates." Said certificates were to be issued in three series of $2,000,000 each, designated as "A","B" and "C".-V. 86, p. 1159, 720.
Ohidago Rock Island & Pacific Ry.-Bonds for Subsidiary
Company,-The Texas Railroad Commission has authorized
this company's subsidiary, the Chicago Rock Island & Gulf
Ry., to issue $331,000 additional bonds on account of 11
miles between Irving and Carrollton in Dallas County, Texas.
All the company's capital stock and bonds are owned by the
parent company,pledged as part security for its 4% refunping bonds.-V. 86, p. 602, 420.
Detroit Toledo & Ironton Ry.-Default on Notes.-The
interest due June 1 on the $5,500,000 33/
2-year 5% notes, it is
learned, will be allowed to go to default. The interest on
the $4,253,000 general lien 4s due June 1 will be paid at
maturity.-V.86, p. 794, 602.
Evansville & Terre Haute RR.-Listed.-The New York
Stock Exchange has listed $473,000 additional first general
mortgage 5% 50-year bonds due ,1942 making the total
amount listed to date $3,145,000.
The bonds listed were issued for additions, improvements, betterments
and equipment under Article First, Sib-division 4 of the mortgage, the
remainder ($3,855,000) of the $7,000,000 authorized issue being reserved
to retire underlying bonds.
Earnings.-For 9 mos. ending Mch. 31:
9 mos.
Gross.
1007-08
$1,728,436
1906-07
1,726,684
-V. 86, p. 1224.
Net(ov.tax.) 0th. inc. Int. cit. rent. Bat., sur.
$570,591
3196,876
3443,879
$323,589
647,470
Fairmont & Clarksburg Traction Co.-Stock Increased.A press dispatch states that the stockholders will meet
during June to vote on a proposition to increase the capital
stock from $2,000,000 to $5,000,000.-V. 86, p. 600.
Galveston Harrisburg & San Antonio Ry.-Tax Law Held
Unconstitutional.-The United States Supreme Court on
Monday,in a test case against the company,by a vote of 5 to
4, held unconstitutional the law passed in 1905 by the Texas
Legislature, imposing an annual tax on railroads equal to
1% of their gross earnings in such proportion as the length
of the line within the State bears to the total length.
1343
Kensington & Eastern RR. makes a coantetion foe the Illinois Coltral
with the new town of Gary and with several trunk lines east. The Memphis
& State Line RR., about 16 miles, goes around the city of Memphis,
relieving the heavy traffic along the river front of that city, which has
become troublesome to the municipality and difficult for the railroad.
Both these votes were approved by your committee.
The floating debt of the company last fall amounted to about $30,450,000,
incurred substantially as follows:
Advances to Indianapolis & Southern RR
$3,750,000
Construction on Yazoo & Mississippi Valley lines
___
1,030,000
Sundry subsidiary lines as per abstract (a) of the company's
statement, about
830,000
Advances to other railroads, including line to Birmingham and
terminals,
_
10,000,000
Real estate in
aboutNew Orleans and Chicago
840,000
For equipment, about
14,000,000
A demand for security was made upon the company by holders of the
unsecured notes, which was furnished by the mortgage of its equipment,
upon which there was no lien. Your committee are informed that there
Is no intention to sell the notes secured by this mortgage (V. 86,p.1042.)
The Indianapolis & Southern RR. connects at Indianapolis, an important railroad centre, with many important lines. The line to Birmingham. of which our company owns one-third, besides its terminals at Birmingham, opens a connection over the Central Railroad of Georgia to
Savannah.
The following vote was also passed:
"Whereas, on July 21 1886. the Illinois Central RR. Co. entered into a
trust agreement with the United States Trust Co. of New York to sect re
'
the payment of certain bonds known as Illinois Central sterling 33
bonds of 1950. maturing July 1 1950, the aggregate amount authoriztd
being $5,352,000 and the aggregate amount outstanding June 30 1906
being $5,266,000, It being covenanted in the said trust agreement and in
each of the said bonds that no mortgage should thereafter be made upcn
the railroads, which were then known as the Illinois Central RR. and the
Chicago St. Louis & New (Meals RR., or either of them, to secure the
nayment of any other indebtedness, until all the bonds of said series should
be secured by a mortgage lien upon each of the said railroads, to be duly
authorized by the holders of a majority of the stock of the said railroad
companies respectively, having priority over any other mortgage that
might be thereafter executed;
"And, Whereas, It is Intended by the Illinois Central RR. Co. to secure
the payment of other indebtedness upon the railroad which was on July 21
1886 known as the Illinois Central RR.
"Now, therefore, in compliance with the said covenants of the Illinois
Central RR. Co. contained in the said agreement and bonds respectively,
the directors of this company are hereby authorized to secure all of the said
Illinois Central sterling 3 t. % bonds of 1950 by a mortgage lien upon the
railroad, which was on July 21 1886 known as the Illinois Central RR..
having priority over any other mortgage that may be hereafter executed
upon the said railroad, the form of the said instrument securing the said
mortgage lien to be such as the directors may determine."
This vote Is a necessary Preliminary step before the company can issue
a refunding mortgage to take up its outstanding bonds.
The officers present at the meeting were: President Harahan, VicePresident Hackstaff and General Counsel Dickinson, who willingly answered
all questions asked by your committee and gave us valuable information,
Of which the above Is a brief summarv.-V..86, p. 1284. 1142.
'
7International & Great Northern RR.-Listed.-The New
York Stock Exchange has listed $6,879,500 Farmers' Loan
& Trust Co. certificates of deposit for second mortgage bonds
and has authorized the listing from time to time, but prior
to Jan. 11909, of additional amounts of said certificates on
notice of issuance in exchange for outstanding second mortgage bonds, making the total amount authorized to be
listed $10,391,000.
Time Extended till July 1.-The second mortgage bondholders' committee, Mark T. Cox, Chairman, referring to the
aforesaid listing, announces that the time within which to
deposit bonds under the agreement of March 2 1908 is now
extended to and including July 1 1908, after which date
bonds will be accepted only in the discretion of the committee and under such penalty as may be fixed by the cornmittee.-V. 86, p. 1285, 1159.
Iowa Central Ry.-Bonds Sold.-E. H. Rollins & Sons
have purchased an additional block of $1,250,000 of the first
and refunding 4% bonds, making $2,000,000 of the issue
taken by that firm. There are now $4,070,000 refunding
bonds outstanding in the hands of the public, $1,330,000 being also held in the treasury. Compare bond offering,
V. 86, p. 1042, and V. 86, p. 229.
Lehigh & New England RR.-Guaranteed Equipment Trust.
9% equipment trust certificates, series A,
-The $450,000 43/
recently authorized, are described as follows:
Dated June 1 1908 and due $30,000 annually from 1909 to 1923, both
inclusive, but subject to call at any Interest period at 102H. Interest
payable Dec. 1 and June 1 at office of Guarantee Trust &Safe Deposit Co.,
Philadelphia, the trustee. Denomination $1,000. Equipment covered,
300 steel coal cars, 330 steel under-frame box cars and three consolidation
locomotives. Both orinelnal and IntPrest of the issue are guaranteed by
the Worth Coal & Navigation Co.-V.86, p. 1159, 918.
Lehigh Valley RR.-Listed.-The New York Stock Exchange has listed $1,539,000 additional general consolidated
mortgage 4s, due 2003, making the total amount listed
$23,539,000. The additional bonds represent cash advances
Hagerstown (Electric) Railway Co.-Consolidation.-New made in payment of annual installments on car trusts and
purchase bonds."
Stock.-The shareholders at Hagerstown on May 20 voted "stock
Purposes for Which the $23,539,000 Outstanding Gen. Consol. 4s Were Issued.
to increase the capital stock from $200,000 to $400,000 and For capital advances made by payment
of annual installments on
car trusts and on Connell, Seneca, Righter and Warrior Run
also to take over the assets of the Hagerstown & Boonsboro,
purchase bonds,"
_$6,103,000
Hagerstown & Northern and Hagerstown & Myersville To"stock
redeem $9,568,000 "mortgage
and collateral trust" 5% gold
bonds at 1 )7
trolley companies.
, 10,286,000
Justice Holmes, who writes the majority opinion, holds that the tax is
an interference with Inter-State commerce, while Justice Harlan, for the
minority, says tile tax is justified as being merely an occupation tax.V. 84, p. 803.
The new stock will all be Issued in the near future. There are outstanding
$350,000 bonds on account of the properties to be acquired.-V.84, p. 339.
Illinois Central RR.-Report of Stockholders' Committee
Based on Official Information-Proceedings at Annual Meeting-Source of Floating Debt-35,266,000 Sterling 3s Given
a Lien on Road Preparatory, it is Supposed, to Making a
Refunding Mortgage -Secretary George A. Fairfield of the
Hartford, Conn., Board of Trade, and Francis R. Cooley,
the well-known Hartford banker and broker, together constituting the committee which represented local stockholders
at the recent meeting in Chicago, makes the following report
to those stockholders whose proxies were given them:
The call for the meeting of stockholders was:
(a) To vote on an increase of stock. Of this we approved, and believe
that stockholders whom we represented also approved. (b) To authorize
the purchase Of the property, corporate rights and franchises of the Kensington & Eastern RR. Co. (c) To authorize the purchase of the property, corporate rights and franchises of the Memphis State Line RR. Co.
Both of the above railroads had been under construction for some time
under separate charters, but with funds furnished by our company, for
which all the bonds and stock/of those companies werefreceived. The
To redeem $2,000,000 5% five-ten-year gold coal pledge bonds of
Lehigh Valley Coal Co. at 10214
2,050,000
To redeem $5,000,000 National Storage trust certificates
5,100,000
Income Account, Eight Months ending Feb. 29 1908.
Gross earnings
$24,241,9551 DeductionsOperating expenses
15,888,353'Additions and Improv'ts. $1,278,906
'Interest on bonds
2,357,373
Net earnings
$8,353,602 Interest on equip. trusts_
116,038
Income from investments
• I Rentals leased lines and
guaranties
and net earns. of trans1
1,544,315
portation cos. operated
1Taxes
754,400
jointly, &c
1,265,229 I Miscellaneous
210,717
1
Total net income
$9,618,8311 Total deductions_ _ _ $6,261,749
Net income_ ___$3,357,082
Dividends at the rate Of-l5-% yearly on the outstanding $40,334,800 com:rut of 10% yearly on the 3196.390 preferred stock call for
mon
$1.620,479 for the eight months, leaving a balance, surplus, of $1.736,603.
-V. 86, 1). .180, 52.
Los Angeles Dock & Terminal Co.-Further Facts.-Secretary Walter M. Campbell has favored us with the following:
The property Is now separated by a strip of land about 600 feet wide
across which the San Gabriel River flows to the ocean. The War Department has decided that the San Gabriel Is navigable and has ordered the
San Pedro Los Angeles & Salt Lake By. Co. to remove Its trestle or put in
THE CHRONICLE
1344
the river and Is
a draw-bridge of 80 feet clear span across the mouth of
As soon as tnis is
now constructing such draw-bridge of the lift type.
to deep water,
be
dredged
will
tide
low
at
completed,a channel 30 feet deep
with the ocean. Jetties
connecting this company's lands and channels
owns
The
company
channels.
such
of
side
each
on
built
been
have already
being improved
In fee about 650 acres, some 435 acres of which Anow
portion of the enterfor harbor purposes are covered by the mortgage.
the whole within two
prise will be completed at the end of six months,p.
1103.)
years. (Compare unofficial statement in V. 86,
Of the company's authorized Issue of capital stock ($1,500,000, all comThe company has
$100.
shares,
Of
par
mon), $500,800 is outstanding;
made a first mortgage to the Southern Trust Co. of Los Angeles, as trustee,
each, due in 20 years.
to secure an issue of $500,000 6% gold bonds of $500
but subject to call after 5 years in any amount at 105; interest payabls
Jan. and July at office of the trustee. President and Treasurer, George H.
Blxby.—V. 86, p. 1103.
Los Angeles Harbor RR.—New Enterprise.—Bond Issue.
—Early in March this company and the Los Angeles Harbor
Co. were incorporated under the laws of California, each
with $2,500,000 capital stock, the railroad company for the
purpose of building a steam railway from Los Angeles to
Wilmington, Cal., 20 miles, and the Harbor Company to
build a dock and deep water harbor in Wilmington Bay
adjoining San Pedro. The railway company has authorized
an issue of $2,000,000 bonds and the harbor company a
bond issue of $1,000,000. The Harbor Company will control
the railroad. The bonds, we are informed, will not be
offered to the public.
President, A. C. Bird, Security Building, Los Angeles, Cal., formerly
& St. Paul, and more recently
Vice-President of the Chicago Milwaukee
lines; W. J. Arkell, Vice-Presldent:
In charge of traffic of all the Gould
J. W. Oakley, Treasurer.
F. C. Wintrode, Secretary, and
Directors—A. C. Bird, W. J. Arkell, New York; F. S. Cary, Wilmington:
Jacob Baruch, N. W. Myrick, L. C. Gates, Fielding J. Stilson, F. C. Wintrod°. A. P. Maginnis and H. C. Oakley of Los Angeles.
See also Los Angeles Dock & Terminal Co. above.
ouisville & Eastern RR.—Merger Planned.—See Louisville Frankfort & Eastern Traction Co.—V. 82, p. 1102.
Louisville Frankfort & Eastern Traction Co.—Proposed
Merger.—The Louisville "Courier-Journal" of May 19 states
that this company is being organized with $2,500,000 common and $750,000 preferred stock,and an authorized bond
issue of $3,500,000,for the purpose of taking over certain
interurban lines now entering Louisville, among them the
Louiskrille & Eastern RR. the President of the new
company, it is stated, will be Samuel Insull of Chicago.
John C. C. Mayo, it is understood, will also be interested.
Louisville & Nashville RR.—Listed.—The New York Stock
Exchange has listed $3,000,000 additional unified 50-year 4%
bonds, due 1940. making the total amount listed to date
$40,562,000. The additional bonds were issued on account
of the retirement of prior liens canceled as follows:
Memphis 8: Ohio RR. Co. sterling mortgage bonds, which ma-32,752,000
tured June 1 1901_
L. & N. general mortgage and Ev. Hend. & Nash. division
226,000
bonds, redeemed for sinking fund
22,000
For premiums on bonds for sinking funds Unified 4% Gold Bonds.
Statement of Issuance of $61,136,000 $17,000 canceled, $18,200,000
above,
as
(Including $40,562,000 listed
y collateral trust bonds
deposited as collateral for $23.000,000 five-twent
N. RR. Co.]
and $2,357,000 Unlisted In treasury L. &or
$22,037,545
issues
$3,424,7011Pri
Construction
451,000
3,210,031 Double track
Extensions
6,829,709
roads
of
'Purchase
6,154,315
Sinking funds__ _ _..
4,438,010
s
'Improvement
467,900
Prem. on bonds for s. f
1,500,000
5.000,000 Purchase of bridges
Corporate purposes
1,637,5121New general office buildPurchase of stocks
664,945
5,319,8081 Ing, Louisville
Equipment
[VOL. Lxxxvx.
under the plan dated April 6 have been deposited thereunder, they have declared the plan operative. See plan in
V. 86, p. 918, 982. Holders of securities who have not yet
deposited them may have an opportunity to do so,,the time
for making such deposits having been extended to June 6,
after which date no deposits will be received, except in the
discretion of the readjustment managers.
Securities and stock of the Mexican Central Railway Co. must be deposited
& Co. of
with the Central Trust Co. of New York or Kidder, Peabody
Boston, while deposits of stock of the National RR. Co. must be made
982.
1225
p,
86,
York.—V.
with the Mercantile Trust Co. of New
National Railways of Mexico.-0fiering of Prior Lien
Bonds.—Speyer & Co., Kuhn, Loeb & Co., Hallgarten
& Co. and Ladenburg, Thalmann & Co., all of New
York, associated with Kidder, Peabody & Co. in Boston,
and various financial houses in Europe, are offering for subscription at94% by advertisementon another page,$13,750,000
of this new company's prior lien 432% sinking fund redeemable gold bonds maturing July 1 1957. The subscription
will close at 3 p. m. on June 3.
Pablo Macedo, Chairman of the Board of Directors, writes
in part as follows (see further particulars in advertisement,
and also in plan, V. 86, p. 918, 982):
The Mexican Government will hold a controlling interest In the stock
of tuts company..
The prior lien 4% bonds will rank before the $160,000,000 guaranteed
Oct. 1
general mortgage 4% slnicing fund redeemable gold bonds, maturing
are
1977, principal and Interest and sinking fund instalhrients of which
(which
to be unconditionally guaranteed by the Mexican Government
amount may be increased for refunding purposes as provided in the mortgage.)
On the completion of the readjustment the bonds (by means of the
deposit of securities and shares under the plan of readjustment) will be
practically a prior lien charge on the entire Mexican Central By. system
(about 3,428 miles), and also practleally a charge on the National RR. Co.
f p—cleo system (about 3,558 miles), subject to outstanding indebtedness of about $57,750,000 charged upon the property of the National RR.
Co., and subject to the lines or toe Mexican International & Interoceanlc
Companies, to their respective outstanding Issues, a large amount of which,
comprising the voting control, is held by the National RR. Co. Of the
Indebtedness of the National RR. Co..333,000,000 can be redeemed on
not more than six months' notice.
Sufficient prior lien bonds and general mortgage bonds are reserved
to redeem the bonds and obligations of the Mexican Central By. Co., Ltd.,
and the National RR. Co. of Mexico, the deposit of which Is not invited
by the plan, with the object that ultimately the bonds may become an
absolute first charge on the combined properties of the National and
Central Rv. Comnanies. —V. 86, n. 1225, 982.
New York-Canadian Pacific Ry.—Vetoed.—Gov. Hughes
vetoed Assemblyman 'Frisbie's bill extending the time for
the completion of this projected road.—V. 80, p. 1059.
New York Central Lines,—Listed,—The New York Stock
Exchange has listed Guaranty Trust Co. certificates for
$30,000,000 New York Central Lines Equipment Trust of
1907. See full particulars and form of certificate and list
of equipment against which $20,387,000 of the certificates
were issued in V. 86, p. 168; also remarks in last annualreport of the New York Central & Hudson RiverRR., V. 86,
p. 798, and list of equipment leased by the New York Central
and Lake Shore & Michigan Central, two of the companies
joining in the equipment trust, in V. 86, p. 800, 803.
The equipment delivered to May 8 1908 consists of 523 engines, 17,081
freight cars and 136 •passenger cars, costing $29,610,620, against which
certificates were issue&for 90% of such cost, or $26,649,558. Cash has
been deposited with the Guaranty Trust Co.,trustee, for $3,353,442, against
which the remainder of
$30,000,000 certificates authorized have been
Issued.—V. 86, p. 168.
New York & Log Island RR.—Bill to 'Enable City to purchase Signed.—Governor Hughes on May 22 signed the
Frawley bill, designed to enable'the city, should it desire,
to purchase the property.
$2,for
Dividends at the rate now paid, 6% yearly, call
The law authorizes the Public Service Commission 'of the First District,
with the approval of,the Board of Estimate and Apportionment of New
700,000(43%)for the nine months.—V. 86, p. 795, 721.
York
City, to acquire on agreed terms lines of railway already constructed
rapid transit railways.
Mexican Central Ry.—Plan Operative.—See National Rail- or In process of constrUction Which mightte built as'
Governor
says the bill should have contained fk provision for,condemThe
1042.
p.
1100,
86,
road of Mexico below.—V.
nation, and such authority should later be added. Compare offer to sell,
Mississippi Central RR.,—Called Bonds.—The company V. 86, p. 669.
Decision Affirmed.—The Court of Appeals last week
will redeem on July 1 $42,000 first 5s of 1905, Nos. 85
62
No.
Sons,
&
Fisk
of
Harvey
office
the decision of the lower courts which granted an
the
affirmed
at
inclusive,
to 126
p.
1101..
86,
—V.
injunction
City
restraining the city fromm interfering with the conYork
New
St.,
Cedar
of
Exthe tunnel pending trial of the action brought
struction
Stock
York
New
.—The
Missouri Pacific Ry.—Listed
the validity of the company's charter. See
determine
40-year
to
"collateral
additional
$8,000,000
change has listed
1518.—V. 86, p. 669.
p.
listed
V.
85,
1339,
amount
total
the
making
1945,
4% gold loan". due
New York Chicago & St. Louis RR.—Bonds fered.—
to date $33,000,000.
of since June 30 last, N. W. Harris & Co. of New York and Boston and the Harris
The $10,000,000 additional bonds, all disposed like
amount of stock of
of a
offer, by advertisement
are Issued against the deposit with the trustee
entire issue thereof Trust & Savings Bank of Chicago
the
By.,
Southern
&
Mountain
Iron
the St. Louis
Missouri Pacific. on another page at 89% and interest, netting-over 4.75%,
the
by
owned
is
being $44,391,250, of which $44,336,600
4% gold
of the year
The Iron Mountain paid a dividend of 10% from the earnings
$2,000,000 of the outstanding 13,000,000 25-year
in Pennsylending June 30 1907.
debenture bonds, dated May 1 1906, tax-free
1908
31
(including
March
ending
Earnings.—For 9 months
vania. Denominations $1,000 and $5,000 and multiples of
St. Louis Iron Mountain & Southern):
$5,000. The indenture to the Guaranty Trust Co. of New
$11,244,210
income
net
Total
$33,838,459
mortgage can be placed
Gross earnings
8,937,664 York, trustee, provides that no new
8,853,521 Charges
Net earnings _ _ _ _ _
2,390,6891Dividends, 6 mosj_(23 %)1,935,210 on the property without equally securing the bonds of this •
Other income
point out that till, net earn336 issue thereunder. The bankers
Balance,surplus3371,
on bonds. $6,505,806; ings in 1907 were over 33 times the interest charges.—
Charges as above, $8.937,664, include: Interest
rentals and taxes paid, $1,293,075; sundry amounts, $1,138,782.—V. 86, V. 86, p. 1038.
p. 1043.
Norfolk & Portsmouth Traction Co.—iVoto Issue.—See
Missouri River & Northwestern Ry.—Sale Ordered.—A
Reports" on,a, preceding page.
"Annual
on
May
22
D.,
states
S.
City,
press dispatch from Rapid
John Blair McAfee of Philadelphia, has
President.—
New
sale
foreclosure
of
this
the
ordered
that Judge ,McGee has
to'succeed R. Lancaster Williams,'
elected
President
.
been
price
upset
22;
$350,000.
June
for
property, fixing the date
pressure of duties as a receiver of
of
resigns
becauSe
who
the
Cleveland
Trust
of
request
the
The sale is granted upon
but will act as chairman of the
Air
Line,
Seaboard
V.
the
E.
$1,000,000.
Crouch,
of
mortgage
Co.,. as trustee of a
86, p. 1225.
—V.
committee.
executive
has
Bailey
apbeen
0.
C.
receiver,
having resigned as a
ership.—A press dispatch
Ry.—Receiv
1577.
Central
p.
Oklahoma
85,
pointed in his stead.—V.
28, announces that this comNational Railroad of Mexico.—Plan Operative—Further from Paul's Valley, Okla., Mayto Chickasha,
132 miles, has
Lehigh
Deposits to Be Received Until June 6.—The bankers in charge pany, operating from
of a receiver. President Carter,
of the readjustment and union of the Mexican Central Rail- been placed in the handsthe company's embarrassment to
way Co., Ltd., and the National RR. Co. of Mexico announce it is stated, attributes
which first prevented the sale of the
that as a very large majority of the securities called for "radical legislation,
Earnings of L. dc N.—For nine months ending March 31:
Nine Mos.
1907-08
1906-07_
Gross.
$34,663,731
35,836,601
Other Income. Charges. Bal. for Div.
Net.
$8,444,820 $978,851 $7,327,648 12,096,022
11,544,107
•
MAY 30 1908.1
THE CHRONICLE
road and then blocked a loan of $300,000 already arranged
in Philadelphia." Compare V. 82, p. 752, 393.
Pensacola (Fla.) Electric CO.—No Dividend at Present.—
The directors have decided not to pay on June 1 the usual
semi-annual dividend of 3% on the $300,000 6% cumulative
preferred shares. Stone & Webster, the General Managers,
in a circular say:
by a strike of its emThe income of your company has been Impaired
expenses and a loss of earnployees which resulted In materially increased
and earnings and exended
now
has
strike
The
ings through a boycott.
basis.
penses are returning to the normal
the trouble was of a purely temporary
Your directors wish us to state that
need be entertained as to the future of your
nature and that no fears which
your company serves Is naturally prosproperty. The territory
are sound and satisfactory, although adconditions
business
and
perous
general depression which the country
the
by
versely affected temporarily
is now experiencing. which will result now that the menace of constant
discipline
The better
been removed, will enable your directors to operate the
labor troubles has
property more beneficially than heretofore, both for the security holders
Pensacola.
and the people of
It is hoped that the dividend now passed will be made up in the not
distant future.—V. 84, n. 1183.
Pontiac Oxford & Northern RR.—Receiver's Sale.—Receiver Robert J. Lounsbury announces by advertisement
that he will sell the road at public auction on Aug. 20 at
Pontiac, Mich., as follows:
of the State of Michigan for the
Under a decree of the Circuit Court
entered March 30 1908 nunc pro tune,
County of Oa'-cialci in Chancery,
and others against Pontiac
as of Jan. 20 1908 In the suit of Charles H. Stonethe
lien of the first mortgage
Oxford & Northern RR. and others, subject to
Cash on hand or
securing 8400,000 8% bonds and taxes not accrued.
by the comIn bank, bills and accounts payable and judgments obtained
V. 84, p. 5th):
1340;
p.
Compare
85,
V.
pany or the receiver are excepted.
V. 77, p. 290.
Rapid Transit in New York City.—Subway Bill Vetoed.—
Governor Hughes on May 24 vetoed the bill introduced by
Assemblyman W. R. Robinson, authorizing the sale of franchise rights to construct and operate rapid transit subways
in the City of New York,with the reservation to the city of
the right to purchase the property of the grantee at the expiration of a fixed period which was not to exceed fifty years.
The Governor says in part:
These railways, except In the case of certain extensions of existing lines,
purpose
cannot now be constructed save by the use of public moneys. TheThis
bill,
by private capital.
of the bill is to authorize construction alsoadditional
in New
transit
rapid
have
means
to
that
feature,
main
In Its
York we should give 50-year grants. I do not believe In that policy. The
city should not lose Its control over its highways for rapid transit purposes
for such a period.
The Legislature has passed a concurrent resolution for an amendment
of the Constitution providing that indebtedness incurred for rapid transit
in
improvements should not, under specified conditions, be considered
estimating the debt limit. If this is again passed by the next Legislature,
1909.
November
In
minnted
•
b
It can
Conditional Award of Brooklyn Subway Contracts.—Subject
to approval by the Board of Estimate, the contracts for the
construction of all six sections of the "Fourth Avenue
(Brooklyn) subway," from the Manhattan Bridge to 43d St.,
South Brooklyn, have been awarded by the Public Service
Commission, the contract prices aggregating $14,886,762
for railroad work (exclusive of rails and other equipment)
and $999,617 for pipe galleries; total, $15,886,379.
2d Sec. 3d Sec. 4th Sec. 4th Sec. • 6th Sec.
1st Sec.
RR. work...1,020,476 3,436,019 3,392,091 2,283,553 1,945,641 2,808,982
58,695 208,135 206,672 251,076 173,645
Pipe garries 101,374
Contractors: First section, Nassau to Willoughby St., James P. Graham
be
of the contract on ground of omissions from estirelieved
to
sought
(who
mate); second and third sections, Willoughby St. to t.ackett St., William
to
Bradley; fourth section, Sackett St. to 10th St., and sixth section, 27th
43d streets, E. E. Smith Constracting Co.; fifth section; 10th St. to 27th
St., Tidewater Building Co. and Thomas B. Bryson.
New Proposition Which May Affect Above Plan.—The Interbdrough Rapid Transit Co. on May 26 submitted to the
Public Service Commission an offer to build for $1,200,000
subway road from the Flatbush Ave. terminal of the present subway in Brooklyn to the Manhattan Bridge, and thence
over the bridge to a connection with the Third Ave. elevated
railroad in Manhattan, passengers to be carried from any
part of its elevated system in Manhattan to the Flatbush
Ave. station for a single fare. This proposition, since covering the first section of the aforesaid "Fourth Avenue subway," may possibly delay the construction .of the remainder
of the line.
Declines to Operate.—The Brooklyn Rapid Transit Co.,
because of the expense involved, and for other reasons,has
given notice that it cannot undertake to operate its trains
through the $9,000,000 subway loop which the city has
nearly completed, connecting the Manhattan termini of
the Brooklyn, Manhattan and Williamsburgh bridges.—
V. 86, p. 1160, 1044.
Rochester (N. Y.) Railway & Light Co.—Bonds Offered.—
Richardson & Clark, Providence, R. I. are offering at 953
$1,600,000 first
and interest, yielding the investor 5
consolidated mortgage 5% gold bonds, due July 1 1954, but
subject to call at company's option at 110 and interest.
Interest payable January and July. Issued with approval
of the New York State Public Service Commission. A
circular says:
Firs' Consolidated Mortgage 5% Bonds, Authorized, $16,000,000.
$5,448,000
Reserved to retire underlying issues
(!cc., to be
Reserved for betterments, Improvements,
3,255,000 88,703,000
only
restrictions
issued under proper
87.297,000
Total present issue
Capital stock-5% cumulative pref. stock, $3,000,000; common $9,500,000
total
stock (now paying 5%), 86,500,000;
of the street
The company was organized July 1 1904 by a combination
N. Y., and it Is the
railway, electric-light and gas companies of Rochester, and
selling gas and
only company operating a street railway and making railway
is operated
electricity for light and power In that city. Theof the Rochester
Ry.
through the ownership of the entire common stock
and 83,000,000 5%
Co., which has outstanding $4,375,000 5% bondsState
of New York; it
the
preferred stock. Rochester is the third city Inpossibilities
for the develophas a population of 225,000 and possesses large
During the last five
ment of street railway, light and power business. the
railway company
years the tracks, rolling stock and other property of
1345
have been renewed to meet the demands of a constantly increasing traffic.
The franchises are unlimited as to time and liberal In their provisions.,
constituting a very valuable asset which it would be impossible to duplicate
at the present time.
In January 1906 the control of the company passed into the hands of
the New York Central RR.; the price paid for the common stock being8125 a share, and 81,100,000 of the preferred stock also was taken at 8100
a share.
Income Account for the Year ending Dec. 311907.
8103,440
82,364,290 Add—Other Income
Gross earnings
1,158,174 Total net income
81,399,556
Operating expenses
764,150
---- Fixed charges
Net earnings
$1,206,116
c
65,4 6
Surplus available for dividends
Undivided profits of the Rochester Ry. Co. for the year 1907
applicable to its common stock owned by the Rochester Ry.
& Light Co
296,738
$932,144
Total surplus over charges
—V. 86, p. 1101, 982.
St. Louis Iron Mountain & Southern Ry.—United States
Supreme Court Defines Liability under Car-Coupler Act.—The
United States Supreme Court on May 18 handed down a
decision holding the company liable for damages for the death
of an employee arising from violation of the car-coupler act.
The suit was brought by the widow of one Taylor, who was caught between two cars while attempting to couple them. It was contended that
while the drawbars were not of the standard height prescribed by the
American Railway Association and Inter-State Commerce Commission, as
required by law, the company by furnishing shims or metal wedges to raise
them ,and In other ways, had complied with the common-law requirement
as tothe use of reasonable care. The Court, in an opinion by Justice
Moody, held that Congress, not satisfied with the common-law duty and its
resulting liability, had prescribed that no cars should be used in Inter-State
commerce which did not comply with the standard and that the plain prohibltion of the law was vtolated.—V. 86, p. 422.
St. Louis & San Francisco RR.—Listed.-The New York
Stock Exchange has listed $1,553,000 additional 4% refunding bonds, due 1951, making the total amount listed
to date $66,000,000.
The bonds listed have been issued under Section Second, Sub-division C.
for additions, improvements, betterments and equipment.
Earnings.—For 9 months ending March 31 1908 (including Chicago & Eastern Illinois):
Interest,
3% on Balance,
Other
Gross
' Net
Nine
Surp.
Mos.— Earnings, after taxes. Income. Rents, &c. 1st Pf.stic.
1907-08 _ 37,264,844 10,235,543 972,888 10,023,571 149,806 1,035,054
____
1906-07 __ 36,926,494 12,263,708
Interest, rents, 4cc., as above, Include: interest, 88,212,301; rentals and
sinking funds. $647,698; dividends on stock trust certificates, 81,045,718;
dividends to Chic. 4: East. III. stock held by the public, $117,855.—V. 86,
p. 1226, 982.
Suburban Rapid Transit Co., Winnipeg.—Offering of
Guaranteed Bonds.—The Dominion Securities Co., Montreal,
Toronto and London, is offering for sale 5% first mortgage
bonds, guaranteed absolutely by the Winnipeg Electric Ry.
Co. An advertisement says:
Bonds due Jan. 311938. Interest Feb. 1 and Aug. 1; principal and interest payable at Bank of Montreal, Toronto, New York.and London, Eng.
Trustee, Royal Trust Co., Montreal. A first mortgage on suburban lines
running westwardly from Winnipeg. The company has broad powers and
an .2ohisive franchise for 35 years. Endorsed on each bond is the absolute
guaranty of the Winnipeg Electric Ry. Co., whose surplus earnings available for Suburban Rapid Transit Co. bond interest were (1907) 8560,000;
or over 20 times the amount required.
Tampa (Fla.) Electric Co.—Mortgage.—The shareholder
will meet June 2 to vote on authorizing an issue of $2,000,000.
bonds to provide for floating debt, the cost of extensive improvements now in progress, additional equipment and future
capital requirements. Stone & Webster of Boston are the
general managers of the property.—V. 85, p. 1271.
Tidewater Company.—Heavily Over-subscribed.—The subscription books for the $17,000,000 6% notes, which opened
May 27, were immediately closed, the issue having been
heavily over-subscribed. The notes were offered by Redmond & Co. and the Equitable Trust Co., in last week's
"Chronicle." See page 1286.
Toledo Railways & Light Co.—Settlement with City as to,
Claims—Franchise Question Still Open.—The directors on
April.30 approved the terms of settlement with the city in
regard to all outstanding claims The city council ratified
the settlement on May 4 1908.
The balance found to be due the city Is 8242,612, which Is to be paid
850,000 each six months, beginning March 1909, until the amount is canceled, with interest at 6%. The penalties and Interest on account of
unpaid paving assessments, amounting to 8516,851, will be marked off
the records of the county.
This settlement does not affect the question as to the company's franchises
which begin to expire In 1909, with important expirations following In 1911;
and especially In 1912. A city official writes: "It is altogether Improbable
that any iv‘w franchises will be granted to the company unless the company is willing to accept a straight three-cent fare."—V. 86. p. 1226.
Virginia-Carolina Ry.—No Connection.—See Virginia &
•
Carolina Southern Ry. below.
Virginia 84 Carolina Southern Ry.—Mortgage—Bonds for
Sale.—A mortgage has been filed to the New York Trust Co.,
as trustee, to secure not exceeding $2,000.000 of 5% 50-year
gold bonds of $1,000 each, dated Jan. 11908 and due Jan. 1
1958. Of the bonds, $120,000 have been issued at the rate
of $8,000 per mile on the 15 miles of road already completed.
President Armfield, Fayetteville, N. C., May 22 1908, writes:
The company was incorporated by the State of North Carolina in Jantlary, 1006, and was organized in December of the same year, with a paid-In
capital of 840,000. The stockholders are: A. W. McLean of Lumberton.
N. C.; John Blue and C. N. Blue of Abcrdeen, N. C., and J. F. L. Armlield
of Fayetteville, N. C.
The southern terminus Is Lumberton. N. C., where a connection is made
with the Seaboard Air Line and the Raleigh & Charleston railroads. The
terminus is Fayetteville, N. C., a distance of 34 miles. Construction was begun at Lumberton, and Is completed to St. Paul, N. C., which Is
15 miles from Lumberton. Arrangements are now being made to complete
12 miles further north, which will connect us at Hope Mills, N. C., with
the Atlantic Coast Line. RR. We have issued bonds to the amount of 88,000
per mile covering the 15 miles completed, making $120.000. The bonds
were paid over to the Atlantic Improvement Co. for the construction.
right of way,roiling stock, dec., which we now have. The Atlantic Improvement Co., whose stockholders are the four above-mentioned gentlemen,
Is now in possession of the bonds and Is offering them for sale.
The bonds are, of course, a first mortgage on the road, including all pr6perty owned,such as terminals, right of way, rolling stock, depots, ece.
1346
THE CHRONICLE
FoL. LXXXTI
The company has no connection with the Virginia-Carolina Ry., extending from Abingdon, Va., to Crandall, Tenn.,
25 miles.
Wabash RR.-Receivership for Subsidiary.-See WabashPittsburgh Terminal Ry. below.-V. 86, P. 1102, 1045.
Wabash-Pittsburgh Terminal Ry.-Receivership.-At
Pittsburgh yesterday the United States Circuit Court appointed as receiver of the property F. H. Skelding, the
President of the First National Bank of that city.
Protective Committee.-The interest on the $29,500,000
first mortgage 4% bonds falls due June 1 and it is generally
supposed will remain unpaid. The Wabash RR. Co. owns
the entire $10,000,000 capital stock of the company, but
it is believed hardly feels justified in advancing the funds
necessary to enable the road to meet its interest charge,
the earnings of the Wabash-Pittsburgh Terminal, it is
understood, still falling considerably short of the amount
iequired.
The following first mortgage bondholders' protective
committee is announced:
year gold bonds, dated Jan. 1 1907 and due Jan. 1.
1927. Interest payable Jan. 1 and July 1. Denomination $500 and $1,000 (c*). Total amount authorized,
$25,000,000; issued, $11,914,000; a "first mortgage covering .
all property, real and personal, now owned or subsequently
Sinking fund commences in 1910. Capital
acquired.
stock, $50,000,000, in $100 shares (V. 85, p. 1404, 1521).
A circular says:
INDUSTRIAL, GAS AND MISCELLANEOUS.
Aetna Portland Cement Co.-Sold Under Foreclosure.Judge Wisner at Flint, Mich.,on May22 confirmed the recent
foreclosure sale of the property for $180,000 to John A.
Meyer of Boston, representing the holders of bonds, of which
the issue was $400,000. See V. 84, p. 1054.-V. 86, p. 858.
American Pneumatic Service Co.-Report.-For fiscal year
ending March 31:
Interest on bonds-$18,000,000 bonds (average
issue for year) at 5%
$20,000,000 bonds (ay. Issue for year) at 5%
Properties of Columbia Gas & Electric Company.
a. Cleveland (population 500,000).-Practically all the stock of the
Cleveland Gas Light & Coke Co. (total authorized stock Issue $5,000,000
-Ed., and the People's Gas Light Co. ttotal authorized stock issue $1,000,000-Ed.). supplying artificial gas In Cleveland, Ohio, and suburbs. The
Cleveland Gas Light & Coke Co. was Incorporated in 1846 and serves the
territory In Cleveland east of the Cuyahoga River, the territory west of the
Cuyahoga River being served by the People's Gas Light Co. Incorporated
1868. The business of these two companies has been proaable from the
start. Consecutive dividends have been paid each year. They have no
bonds nor preerred stock and their quick assets vastly exceed their current
accounts payable. Their surplus is invested in Government bonds and
Cleveland real estate. Their net ear..ings for the past four years have
averaged more than $550,000.
b. Cincinnati (population 425,000).-Ten thousand shares of the capital
stock of the Union Gas & Electric Co. of Cincinnati, which supplies all the
gas and electricity for light, heat and power sold In the city of Cincinnati
and suburbs.tTotal authorized stock $10,000,000, of which $5,000,000 is
President J. N. Wallace of the Central Trust Co., Chairman; Paul Morton, 6% cumulative preferred.-Ed.) The
net profits of this business for the
Haley 1.'iske, 'Harry Bronner, Myron T. Herrick, Gordon Abbott and past three years have averaged more than $1,540,000
(compare V. 86, p.
George P. Butler.-V. 82, p. 1440.
601; V. 85, p. 473; V. 83, p. 577, 912). The Union Company proposes to
substitute natural for artificial gas, and has contracted to purchase from
Western Maryland RR.-Collateral to Be Sold at Auction the Columbia Gas & Electric Co. natural gas on terms which should net the
June 9.-Notice is given that the Mercantile Trust Co. will Columbia Company in excess of $1,500,000 annually (3% on its total issue
of stock) and largely increase the net earnings of the Union Gas dc Electric
sell at public auction at 12:30 p. m. on June 9, at the ex- Co.
(Compare lease of Cincinnati Gas & Electric Co., V. 83, p. 892, 1231;
change salesrooms, 14 and 16 Vesey St., 19,993 shares, par V. 85, p. 407).
c.
Covington.
Bellevue, Dayton, Latonia, Fort Thomas (comvalue $50, of the capital stock of the George's Creek & Cum- bined populationNewport,
125,000).-A 90-year lease (sec V. 84, p. 1489) of the
berland RR., or such part thereof as may be necessary to public utilities, consisting of gas, electricity
and street railway service in
the cities and towns named, located in Kentucky, opposite Cincinnati,
realize sufficient funds to pay the amount then due upon a and
including the water supply In Bellevue, Dayton and Fort Thomas,
note of the Western Maryland RR. Co. dated Oct. 17 1907, covering the following properties: Union Light, Heat & Power Co.;
Newport & Covington Railway Co.; Bellevue Water, Fuel Fe
for the prinicpal sum of $1,101,875. Compare V.86, p. 1227. Cincinnati
Gas Light Co.; Dayton
Light Fe Power Co.; Covington Gas Light
Status.-There have been many vague rumors of recent Co.; Citizens' Municipal Electric
Light do Power Co.; South Covington & Cincinnati
Co.; Covington & Latonia RallWay Co.; Newport Electric Street
weeks regarding the possibility of a change in control of the Railway
Railway Co.; Covington Cincinnati & Rosedale Railway Co.; Cincinnati
Western Maryland RR.and the Wabash-Pittsburgh Terminal vVest Covington & Ludlow Street Railway Co.; Cincinnati dovington do
Street Railway Co.
Ry., both of which have been held by the Gould interests. Erlanger
This lease yielded the Columbia Gas & Electric Co. a profit for the year
The report that John D. Rockefeller and associates had ar- 1907
of about $163,000, and the profit hereafter, througn growth and sale
gas, should show as follows: From operation of lease in 1908;
ranged to secure control of the Western Maryland, so far as of naturaland
In 1909 $300,000; from distribution of natural gas In 1908
is known has no further basis in fact than that the Rocke- $225,000
$550,000 and In 1909 $900,000; total In 1)1)8, $775,000; in 1900, $1,200,000.
d. West Virginia and Kentucky.-Gas, Oil and Mineral Lands.-The
feller interests have for some time past had a large interest
Columbia Gas & Electric Co. has acquired oil, gas and mineral rights by
in the bonds of the Western Maryland and have two repre- leases,
contracts, agreements, royalties and ownership in fee of 257,841
sentatives on the committee of "general lien and convertible acres of land, located In central and southwestern Virginia
and in eastern
Kentucky. The company has 30 wells now on this property, which have
mortgage" bondholders, of which Alvin W. Krech is Chair- a daily capacity of 100 million cubic feet of free flow natural gas, and addiwells
are
tional
being drilled. In the opinion of eminent authorities these
man. Probably because of the association of Mr. Rockewill produce a sufficient quantity of natural gas to supply Cleveland,
feller with H. H. Rogers in the management of the Standard fields
Cincinnati and Covington and
environments, and the intervening
Oil Co., it has been suggested that the Western Maryland towns between those cities and their
the gas fields for at least thirty years.
e. Pipe Lines.-Out of the unissued bonds it is proposed there shall be
and possibly the Wabash-Pittsburgh Terminal might even- sold
sufficient to cover the cost of constructing a pipe line to convey natural
tually be brought into close relations with the Virginian gas from the company's properties in West Virginia and Kentucky to CinCovington and intervening points, anti another pipe line for the
Ry., the important enterprise which is being financed by cinnati,
purpose of supplying natural gas to Cleveland and the smaller municipaliMr. Rogers and which was fully described on p. 1286 of last ties en route. The company's
plans provide that should the natural gas
supply diminish. artificial gas may be manufactured from the vast quantities
week's "Chroniele."-V. 86, p. 1227, 980.
of coal underlying the company's properties and be carried via its pipe
to the various cities and towns. The prices realized from the sale of
Winnipeg Electric Ry.-Guaranteed Bonds 011ered.-See lines
by-products will leave the gas practically without cost to the company.
Suburban Rapid Transit Co. above.-V. 86, p. 604.
(V. 84, p. 1184.)
Estimated Future Earnings.
Worcester (Mass.) Consolidated Street Railway.-Pro1909.
1908.
Cleveland-Net profits from operation
$700,000 $1,800,000
posed Bonds.-Application has been made to the Massachu- Cincinnati-From
contract to supply natural gas
to the Union Gas & Electric Co. upon complesetts Railroad Commission for authority to issue $922,000
tionol pIpeline
1,500,000
750,000
bonds to retire floating debt and $2,260,000 bonds to retire Covington,
Newport, &c-Net profits from operation of leased properties
funded debt.-V. 85, p. 1647.
300,000
225,000
Net from distribution of natural gas through
Youngstown & Ohio River (Electric) RR.-Status.--:-The
existing mains and extensions In Covington,
Newport,
&c
"Cleveland Finance" of May 9 said:
000,000
550,000
Line service en route to Cleveland and Cincinnati
140,000
140,000
The securities are still in the hands of tae syndicate manage's and will
n)t be distributed or offered for sale for soma time. Th.: bonds now
Total income
$4,640,000
$2,365,000
o ttstanding aggregate 31,530,000. The road will cost about $1,600,000 Gas field expenses
and administration ($60,000 in
ish. It will shortly be In complete ooeration.-V. 85, p. 532.
1008' $75,000 In 1909)
485,000
360,000
Fiscal
Year1907-08
1936-07
-V. 85, p. 1463.
Profits cfe.
Rentals.
3337,837
264,425
Chges., incl. Div. on
Deprec., Occ. Sub. Stk.
$136,821
$7,189
165,803
1,318
Bala ice,
Surplus.
$133,8.7
07,153
$2,005,000
900,000
$4,155,000
1,000,000
Surplus for stock
$1,105,000 $3,155,000
Directors.-Charies P. Taft, capitalist, Cincinnati, Chairman; C. H.
ileardslee, Cleveland, 0., Pres. Cleveland Gas Light & Coke Co.; F. B.
E'nslow, Huntington, W. Va., Pres. Huntington National Bank; James
C. Ernst, Covington, Ky., Pres. Cinc. Newport & Coy. Light & Traction
Co.; Henry A. Everett, Cleveland, 0., capitalist; J. Waiter Freiberg, Cincinnati, 0., distiller; Julian M. Gerard, New York City, banker; Otto
Germer, Erie, Pa., stove manufacturer; Caleb E. Gowen, Cleveland, 0.,
Pres. Kelley Island Llme ec Transport Co.; R. A. Harman, Cleveland. 0.,
manufacturer iron products; Louis J. Hauck, Cincinnati, 0., brewer;
William T. Hunter, New York City, Treasurer; J. M. Hutton, Cincinnati;
0., banker and broker; Charles A. Lieb, New York City, Vice-Pres.; M. E.
Moch, Cincinnati, O., Vice-Pres. Cincinnati Trust Co.; C. R. Morley,
Cleveland, 0., capitalist; William D. Rees, Cleveland, 0., capitalist;
Wm. B. Saunders, Cleveland, 0., attorney; Archibald S. White, New York
City, President.
Transfer Agent, the Cincinnati Trust Co., Cincinnati, 0.; Registrar of
Transfers, Union Savings Bank & Trust Co., Cincinnati, 0.-V.85, p. 1404.
Burlington (Vt.) Gas Light Co.-Earnings.-E. H. Gay
& Co., Boston, New York, &c., in offering at a pr.ce to y eld
about 5.3% on the inv( stment a block of the 5% thst mortgage 50-year gold bonds, report the earn.ngs for 1901, which
General Electric Co.-Orders and Shipments.-For three
we compare with those for 1906 as follows:
months ending April 30:
Earnings from Sales of Gas and Electricity for Calendar Years.
1907.
1006. I
19;7.
19,6.
$
I
•
Gross receipts
46,5)0 42,05,
141,857 131,428'Interest chargesOp. exp., taxes, &c_ 82,011 61,268 I fixtr'y imprvts_
_8,_ _
Net receipts
59,846 70,1601 Bal. appl. to (livs_ 13,346 1),l1
Sales of Gas (Cubic Feet).
1937.
1904.
1906.
1005.
10 ,3.
53,023,100
40,303,000
• 33.510, .0
45,100,000
51,520,400
-V.85. n• 161.
EChicago-Virden
Coal Co.-Called Bonds.-Twenty first
mortgage 6% bonds dated July 11901, of $1,000, have been
drawn for redemption by lot at par on July 1 1908 at the
First Trust & Savings Bank, Chicago, trustee.-V.73, p.844.
Columbia Gas & Electric Co., Cincinnati, Cleveland,
Bonds Offered-Status.-A. S. White & Co., 38 Wall St.,
are offering, on a basis to yield 6%, first mortgage 5% 20-
Orders receivedSales billed1)08.
$10,033,173 1908
1307
18,602,962 1907
1306
14,639,997 1906
1305
12,020,715 1905
1304
9,943,279 1904
1503
11,460,437 1003
-V. 86, p. 1157, 1045.
$9,208,828
16,035,060
10,330,164
8,672,691
8,066,066
8,245,822
Great Northern Portland Cement 00.-Sold.-At the
foreclosure sale in Baldwin, Mich., on May 6, the property
was bid in for $85,000 by William Lucking of Detroit
said to be acting for the holders of bonds issued under the
$600,000 mortgage. Union Trust Co. of Detroit was trustee
-V. 86, p. 172.
International Coal & Coke Co., Ltd. Montreal.-Ten!porary Dividend Reduction.-A circular sent out not long since
over the signature of Secretary W G. Graves says
MAY 30 1908.)
1347
THE CHRONICLE
You will have noticed by the balance sheets of 1906 and 1907 that the
company has an outstanding obligation of $200,000,for which the bond issue
Is pledged as collateral, this being the purpose for which such
$300,000)
(
bonds were authorized.
• The directors deemed it wise to begin dividends On Feb. 1 1907, instead
of applying its funds in liquidation of the indebtedness, hoping that, with
favorable reports, increased tonnage and regular dividends, It would be
possible to make satisfactory disposition of the company's treasury stock
and thus retire the amount referred to. This has not been possible, as
during the year 1907 the general financial conditions became more and
more uncertain and disturbed.
In view of the foregoing, the board consider It wise to change their policy
the
and to hold the tfeasury stock intact, and for the present apply part offree
earnings In reduction of their bonded debt, thus leaving the property
and unencumbered.
will be
This circular is to advise you that the next quarterly dividend
the share1 y,,%. The directors consider such a course as distinctly In holding.
every
of
value
holders' Interests, and should tend to enhance the
the
The directors wish to state that the physical conditions in and about
approved by every
mine are excellent, and it Is hoped their action will bewill
be made in conshareholder and that no needless sacrifice of the stock
sequence of temporarily reduced dividends.
LThe company has collieries at Coleman, Alberta. Its authorized canital
one
stock Is $3,000,000, of which $2,800,000 Is outstanding; par of shares was
dollar. Dividends were begun in Feb. 1907, when 1% (quarterly)
during
paid
534%
make
to
as
so
paid, and were subsequently increased
the year; 2% was paid in Nov. 1907 and again in Feb. 1908. The May
1908 distribution as above shown was only 1 j%.
Report for Calendar Years.
Bal.,
Dividends
Net
Coke
Coal
Coal
Produced. Profits. (5 %). Sur.
Sold.
Produced.
1907 _372,480 tons 310,482 tons 39,121 tons $251,049 $154,000 $97,049
198,192
1906 _ _334,230 tons 284.595 tons 31,068 tons 198,192 None
A. C. Flummerfelt Is President.-Ed.[
International Paper Co.-Called Bonds.-Twenty-three
first mortgage 6% gold bonds, due May 1 1916, have been
drawn for redemption,and will be paid at 105 and accrued
interest by the Old Colony Trust Co., trustee, in Boston
on June 1 1908, on which date interest will cease.-V. 86,
p. 859, 423.
Lackawanna Live Stock Transportation Co.-Equipment
Trust.-An equipment trust agreement to which this company and the Haskell & Barker Co. of Michigan City, Ind.,
ure parties, has been filed to secure an issue of $210,000 4%
gold bonds due in installments.
Laurentide Paper Co., Grand Mere, Que.-Listed in
Toronto.-The Toronto Stock Exchange has listed this company's securities, as follows:
First mtge. 6% 20-year gold bonds, due Jan. 2 1920, interest
Jan. 2 and July 2, total authorized and issued (including
$1,200,000
about $160,000 redeemed by sinking fund)
1 ,200,000
Preferred stock, 7% cumulative, dividends paid Q -J
1,600,000
Common stock (present dividend rate 6% yearly, F. & A.)
(Annual dividend rate on common stock: 1903, 8%; 1904, 7%; 1905,
8%; 1906, 6%; 1907, 6; 1908, Feb., 35%. Par of shares, $100.)V. 85, p. 1084; V. 83, p. 440; V. 79, p. 630, 2591.
Report.-For fiscal years ending June 30:
. Div. Corn. Div. Balance.
Deprec'n Pref.
Surplus
Surplus.
(6%).
(7%).
Over Interest. Reserve.
$83,321
$96.000
$84,000
$20,000
$283,321
1906-07
71,846
96,000
84,000
20,000
271,846
1905-06
.Working expenses In 1907 Include extraordinary repairs, changes and
Improvements aggregating $34,062, and $15,372 lost in unsuccessful litigation which originated at the time of the organization of the company
In 1899. The obligations to the bank have been reduced $474,000, largely
due to the improved handling of the log supply. The report says: "There
has been a decided improvement In the paper market, and the outlook for
the coming year is excellent."
Lehigh Coal & Navigation Co.-Guaranteed Equipment
Trust.-See Lehigh & New England RR. under Railroads
.above.-V. 86, p. 1103.
Louisville (Ky.) Gas Co.-Bonds Awarded.-The $200,000
bonds due in 1918 recently advertised for sale were awarded
to the Fidelity Trust Co. of Cleveland at a premium of $1 01
for each $1,000 bond. The proceeds will be used for extensions. The "Louisville Times" says:
The company will probably continue to pay Its regular dividends. The
city of Louisville owns $925,000 of the stock and gets about $65,000 a
year for its share of dividends. The charter of the gas company has twelve
more years to run. The company will lay about six miles of slx and fourInch main this summer. At the present time there are hundreds of applicants for fuel gas and illuminating gas on streets where there are no mains.
Compare V. 86, p. 981.
Chairman of the first mortgage bondholders' committee,
on May 19 gave out the following:
I am advised that an effort is being made to buy up the first mortgage
bonds of the Michigan Lake Superior Power Co. Though I am unable to
go Into an extended explanation at this time. I suggest that you consult
the committee before disposing of any of these bonds at a sacrifice.
The committee, includes besides Mr. Pitcairn, Charles H. Graham,
Percy M. Chandler and Samuel F. Houston of Philadelphia; Thomas M.
King and Alexander J. Hemphill of New York.]
A report of the receivers places the responsibility for the
failure of negotiations with the Chandler-Dunbar Water
Power Co. on the representatives of that company, and
states that inasmuch as the passage by Congress of the
Young Bill, granting the Chandler-Dunbar Company important water-power rights on the St. Mary's River would
imperil the investment and prior rights of the Michigan
Lake Superior Power Co., the receivers are making every
effort to secure the defeat of this legislation. Compare
V. 84, p. 697.
National Fuel Co., Denver, Col.-Called Bonds.-Nine 7%
gold mortgage bonds, Nos. 14, 21, 43, 63, 73, 88, 94, 97 and
,112, will be called for redemption at the office of the International Trust Co., trustee, Denver, Col., on July 1.-V. 85,
p. 225.
Natural Food Co. of Niagara Falls, N. Y.-New Name.This company, it is announced, has changed its name to the
Shredded Wheat Co.-V. 79, p. 631.
New York Air Brake Co.-Bonds Admitted to Unlisted Department.-The New York Stock Exchange on May 16 admitted to quotation on the unlisted department this company's issue of $3,000,000 6% 20-year first mortgage bonds.
Compare V. 86, p. 1104, 921, 797, 725.
North Butte (Copper) Mining Co.-Dividends Resumed.After an intermission of six months, dividends have been resumed on the $6,000,000 capital stock by the declaration
of a dividend of $1 per share, payable June 25, contra.sting
with $2 quarterly from June 1906 to Sept. 1907, both inclusive. Par value of shares $15. Compare V. 86, p. 1104
V. 85, p. 1344.
Ontario Power Co.-Important Contract for Power.-The
Government of Ontario, which,through the Hydro-Electric
Power Commission, recently received competitive tenders
for 30,335 horse-power electric energy to be delivered to
fifteen different municipalities in Canada, has awarded the
contract to the Ontario Power Co., subject, it is understood,
to final ratification by the several municipalities concerned.
Amounts of Power (lip.) Applied for by the Several Municipalities.
10,000 Stratford
A ,5001Hespeler
400
Toronto
1.5001St. Mary's
1,500
1.500 1St. Thomas
Hamilton
600
5,000 Woodstock
1,2001Preston
London
1,0001Waterloo
685
1,500 Berlin
Brantford
1,2001New Hamburg_
250
2,500 Galt
Guelph
The estimate of maximum cost of power to the municipalities ready
for distribution therein ranges from $17 50 and $18 10 respectively per
horse power in the case of Hamilton and Toronto to $29 50 for St. Mary's
and New Hamburg. The municipalities will meet the cost of necessary
transmission lines from Ntwrara.-V. 85, p. 226, 1522.
Pacific Mail Steamship Co.-Report.-For year ending
April 30:
Fiscal
Year1907-08
1906-07
Gross
earnings.
34,336,312
Total
expenses.
$4,387,835
4,294,548
Dep., repairs, &c.
$397,494
414,292
Bal., sur.
or def.
def.$428,817
sur. 130,404
i7.-1-3-637$ 4:383360:324142
Passaic Steel Co.-Sale of Personal Property Authorized.Judge Lanning in the United States Circuit Court at Trenton
on May 28 authorized the receivers to sell the personal property, but denied their application to sell the real estate free
of the lien of the encumbrance of the $2,500,000 mortgage.
The real estate, If sold, it Is held, must be sold subject to the mortgage
Massachusetts Gas Companies, Boston.-Earnings of Con- lien, or under foreclosure suit, in which the receivers are parties defendant.
Receiver's Certificates.-The Court on Jan. 20 last authortrolled Companies.-Net earnings of the subsidiary comized the issue of $25,000 receiver's certificates, and also of
panies for April and the ten months ending April 30:
-limos.end. Apr.30- an additional $25,000 when necessary, the certificates not
---April-1907-08.
1906-07.
1908.1907.
to bear over 5
interest.-V. 86, p. 112.
$915,022 $1,030,882
Boston Consolidated Gas __ $87,803 $115,114
518,189
441,794
57,667
48,943
___
People's Gas Light & Coke Oo., Chicago.-Additional
Coke
New England Gas &
45,556
46,933
3,512
def. 2,497
Chelsea Gas
:34,655
27,770 Bonds Sold.-The company has sold to N. W. Harris & Co.
2,712
2,398
East Boston Gas
22,16&)
*3,806
and the Harris Trust & Savings Bank an additional $500,000
Mass. Steamship Co
def. 6,5.0 def. 4,8)2 of refunding mortgage 5% bonds, making the total amount
def. 553
def. 339
Citizens' Co. of Quincy
$149,028 $169,633 51,529,072 $1,545,777 outstanding $12,900,000.
Total
Increase in Gas Output of the Boston Consolidated Gas Cos.
Title to Office Property.-James H. Meagher, General
1908.
1907.
1907.1
1908.
5.9% 15.2%110 mos. end. April 30...9.8% 11.5% Counsel of the company, is reported to have taken title to
Month of April
the leasehold interest and building at 151 Michigan Ave.,
*After allowing 7% interest on $1.590,090 Invested in three colliers.
where part of the new $1,500,000 office building to be built
Purchase of West Virginia Coal Property.-The control of by the company will stand.-V. 86, p. 1104, 725.
the Federal Coal & Coke Co. of Fairmount, W. Va., has been
Pillsbury-Washburn Flour Mills Co., Ltd.-Preferred
acquired in the interest of the Massachusetts Gas Companies,
Indefinitely Postponed.-The directors of this
through the purchase it is said, by the New England Gas Dividendcorporation,
it is stated, have decided to postpone
the capital stock ($500,000 or $50,000) English
& Coke Co. of 72% of'
the dividend on the preference shares which it was voted
and a majority of the $500,000 bonds for a sum said to be last
December to pay "at such time as the board shall re$1,250,000 cash. President James L. Richards of the New solve that payment can conveniently be made."-V. 85,
England Gas & Coke Co. is quoted as saying in substance:
p. 158.
The Massachusetts Gas intertsts have arc tred control of tile Federal
Railway Equipment Corporation, Philadelphia.-DiviCoal & Coke Co. of Fairmotint W. Va. a well known property consisting
tons
of
70,000,000
containing
which
about
coal
acres,
of about 5,500
dend.-This company, which 'had long paid regular monthly
experiments have shown to be particularly well suited for their purposes.
The following officers have been elected for the Federal Coal & Coke Co.: dividends of 1 2% on its $1,375,000 capital stock (with
President, James L. Richards of Boston; Vice-President, J. L. Lewis of occassional "extras"), made in April and again in May this
Fairmont; Treasurer, Robert Grant, Assistant Treas., Edward B. Page,
3 of 1%. Compare V.85, p. 725.
year a distribution of only %
and Secretary, John C. Rice, all of Boston.
The Federal Coal & Coke Co. Is at present producing 1,009 tons per day.
Shredded Wheat Co.-New Name.-See Natural Food Co.
a large portion of which will bc shinned to the New Eqgland Gas & Coke
Co., and It is the intention of the present owners to develop the coal propSouthern States Land Co.-Called Bonds.-Thirty-eight
erty at once so that their output will be Increased to about 5,0m) tons
mortgage bonds were paid on May 1 at $512 50 per bond,
per day.-V. 86, p. 984, 549.
Michigan Lake Superior Power 0o.-Warning to Bond- with accrued interest, at Knickerbocker Trust Co., New
holders-1?eport of Receivers.-John Pitcairn of Philadelphia, York.-V. 85, p. 1085.
1348
WOL. Lxxxvi.
THE CHRONICLE
Standard Oil Co. of Iowa.—Reduction of Capital Stock.—
At the annual meeting on May 14 it was voted to reduce the
capital stock from $1,000,000 to $1,000 and the limit of
,ndebtedness from $666,666 to $666 66.
Standard Oil Co., New Jersey.—Reduction of Stock by Subsidiary.—See Standard Oil Co. of Iowa above.—V. 86, p.
1046, 984.
Su'tepee (Mex.) Electric Light & Power Co.—Stock Increase —This New York corporation filed on May 7 a certificate of increase of capital stock from $300,000 to $1,000 000.
T,tie Tmnrmenial
.
COMMERCIAL EPITOME.
Friday Night, May 29 1908.
The process of trade recuperation is proceeding very slowly
and conservatism is still manifest everywhere. Iron sales
have increased as the result of price revisions, and the textile markets have shown more activity for the same reason.
Prices for grain are relatively high.
LARD on the spot has been firmer, owing to an increased
A mortgage for $500.000 was made in 1906. Henry Seibert Is President; demand, partly for export. Offerings have been light and
C Inton L. Rossiter, 44 Court St., Brooklyn, N. Y., Treasurer.—V. 83,
the strength of corn has also had an effect. Western 8.50@
p 277; V. 85, p. 1146.
and City 8Y
1c. Refined lard has been dull but firm on
Superior Coal Co.—New President.—C. H. Sternberger of 8.60c.
light offerings. Refined,
9c., South America
Toledo, it is announced, will on June 1 succeed his brother, 9.60c. and Brazil, in kegs, Continent
10.85c. The speculation in lard
Morris Sternberger, as President.
futures at .the West has been moderately active. Prices
The company Is a New York corporation operating extensive coal mines
In Jackson County, Ohio, its annual output, press reports say, being from have shown irregularity, declining at times on larger re90o,0,10 to 1.(,03 ,000 tons. The capitalization is reported as still $2,000,000 ceipts of hogs than expected and weakness in live-hog prices.
stock and $2,000,000 of an authorized issue of $4,000,000 5% bonds. But
packers have given support on declines, causing rallies.
Compare V. 82, p. 575.
The advance in corn has also had a strengthening effect at
Co.—Change
Steel
in
&
Iron
Union
Control.—Rogers, times.
Brown & Co., the well-known iron firm of Buffalo, on May 25
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
obtained control of the property of this bankrupt corporation,
Wed. Thurs.
Fri.
Tues.
Mon.
Sat.
through the purchase for $25,000 of its entire issue of $200- May delivery
8.42%
8.423. 8.47% 8.40
8.37% 8.35
000 first mortgage 6% bonds, dated April 2 1906,which were July delivery
8.57%
8.47%
8.523
8.42% 8.42% 8.55
8.70
8.60
8.60
8.723. 8.57% 8,70
offered at auction on the floor of the Cincinnati Stock Ex- September delivery
change by the brokerage house of Charles C. Murray & Co.—
PORK on the spot has been dull but firm on light offerings.
V. 85, p. 1345.
Local jobbers have purchased on hand-to-mouth scale. Mess
TJnian Oil Co., California.—New Stock.—The shareholders $14 506815 25, clear $16 50@$17 25, and family $176$18.
voted on May 21 to increase the limit of capital stock issue Beef has been quiet but firm. Stocks continue small, though
from $10,000,000 ($8,000,000 outstanding) to $50,000,000. there has been a slight increase in the supply of late. Mess
The officials are non-committal as to the purposes of the $13(013 50, packet $14@$15, flank $13@$13 50, family,
increase. A Los Angeles paper, referring on May 10 to the $16©$16 75 and extra India mess $236$24 50. Cut meats
probability,of an inorease to $30,000,000 or $50,000,000, said: have been strong as a rule, with a moderate jobbing trade.
Pickled hams 106103
/
sc. • and pickled bellies, 146,10 lbs.
'With the increase,say, to $33,000,000, the stockholders will be given three
4c. Tallow has been quiet and steady; City 5%6
4693
shares for one, which will leave in the treasury $6,0)0,000 for development 83
purposes as needed. Earnings on this basis would give dividends at 8% 53
4c. Stearines have been quiet and steady; oleo 11c, and
yearly on the entire new capital.—V. 86, p. 340.
lard 106101%c. Butter has been quiet and easy; creamery
United States Steel Corporation.—Called Bonds.—On extras 223/
2c. Cheese has been ,dull and steady; State, f. c.,
July 1 there will be paid at the Fidelity Title & Trust Co. in small, colored, fancy, 143/
4c. Eggs • have
2c.;' white 143
Pittsburgh $100,000 bonds of the H. C. Frick Coke Co., been quiet and easy; Western firsts 16%617lAc.
drawn for redemption at 105 and interest.—V. 86, p. 1289,
OIL.—Cotton seed has been firm but less active; prime
summer yellow 49c., white 49652c. Linseed has been firm,
1096.
There has been a
Western Union Telegraph Co.—Application to Bring Suit despite weakness in the raw material. City, raw, Ameridemand, chiefly for small lots.
Denied.—Justice McCall in the Supreme Court in this city moderate
44645c.; boiled 45646c. and Calcutta, raw, 70c.
on May 22 denied the application of Attorney-General Jack- can seed, been
firm, with a moderate jobbing trade. Prime
son for permission to bring action against the company and Lard has and
67670c.
No. 1 extra 53655c. Cocoanut has been quiet
the Postal Telegraph & Cable Co. to annul their charters and easier on
4c. and Ceylon
on the ground of violation of the Donnelly (State) Anti- 631663/2c. larger offerings. Cochin 7673
Olive has been quiet and steady; yellow 656
Trust Act. Compare V. 86, p. 112.
75c. Peanut has been quiet and steady; yellow 65680c.
"iThe Court says Its attitude on applications of this character was recently
426
fully explained in the matter of the Consolidated Gas Co. of New York Cod has been moderately active and steady; domestic
(V. 86, p. 483, 796) and further that "there is no merit In fact or warrant 43c. and Newfoundland 44645c.
In law for the permission sought."—V. 86, p. 985, 672.
COFFEE on the spot has been quiet and firm. Rio No. 7,
Wilkinson Transportation Co., Syracuse, N. Y.—Offering 6366/3sc. and Santos No. 4, 89/868%c. West India
of Steamship Bonds.—The Detroit Trust Co., Detroit, Mich., growths have been moderately active and easier; fair to
the mortgage trustee, is offering at prices to net 54% the good Cucuta 8%699ic. The speculation in future contracts
unsold portion of a total issue of $225,000 5% coupon gold has been extremely dull and prices have shown little change.
bonds, secured by a first mortgage on the two new steel On the whole the tone has been firm, owing-to light offerings
freighters, J. F. Durston and A. E. Nettleton, capacity 8,000 and buying attributed to local dealers and roasters. At
tons and 11,000 tons respectively. Cost of vessels, $745,000. times Europe has bought on a small scale. The principal sellers
have been tired local holders. The speculation has been
A circular says:
Bonds dated April 1 1008, payable In ten annual installments. De- wholly professional with most traders disposed to await
nomination $1,000. Interest (Jan. 1 and July 1) and also principal payable
at the office of trustee. President, S. H. Wilkinson; Sec. and Treas., developments.
The closing prices were as follows:
G. B. Leonard. The same Interests own and operate the L. C. Smith
Transit Co. and the United States Transportation Co., both of which own
fleets of considerable size.
Yukon Gold 00.--Report on Property, ctc., to Canadian,
Authority.—See "Engineering and Mining Journal" of New
York for May 16 and May 23 1908.—V. 86, p. 804.
—Spencer Trask & Co., investment bankers, William and
Pine streets, New York, have issued the eleventh edition
of their circular entitled "Short-Term Notes and Collateral
Trust Bonds," copies of which are distributed gratuitously.
The circular comprises twelve pages, and describes seventytwo short-term investments, including all of the recent
well-known issues.
—The investment bankers, J. S. & W. S. Kuhn, Incorporated, of Pittsburgh and Chicago, have recently opened
offices in the Real Estate Trust Building, Philadelphia,
under the management of W. G. Audenreid Jr. Mr. Audenreid formerly represented the Kuhn interests in Philadelphia
as a member of the firm of Audenreid & Bowker, 400 Drexel
Building.
—The May number of "The Imprint" contains some
specially beautiful pictures in color. This publication is
designed, engraved and printed monthly by the American
Bank Note Co. to illustrate the various classes of their work,
and is very artistic. Copies may be had on request. The
American Bank Note Co. are now in their new building, 70-72
Broad St.
•
—The banking house of Rudolph Kleybolte & Co., of 115
Broadway, has keen incorporated under 'the name of the
Rudolph Kleybolte Company, Inc. The capital of the
corporation is $50,000; the amount, it is stated, is to be
increased later.
May
June
Jiy
August
6.10c.1September
6.15e.(October
6.15c.(November
6.15c.(December
6.10e.'January
6.05c.1February
6.05c.'March
6.05c.'April
8.05c.
6.05c.
6.10c.
8.10c.
SUGAR.—Raw has been firmer on light offerings and an
increased inquiry. Centrifugals, 96-degrees test, 4.2764.36c.,
muscovado,89-degrees test, 3.7763.86c., and molasses, 89degrees test, 3.5263.61c. Refined has been in moderate
demand and easier. Granulated 5.2065.30c. Spices have
been firm and more active. Teas have been steady with a
moderate demand for the cheaper grades. Wool has been
firm with a better demand. Hops have been quiet and
steady.
PETROLEUM.—Prices have been firm with trade active.
Refined barrels 8.75c., cases 10.90c and bulk 5.00c. Gasoline has been in good demand and firm; 86-degrees in 100gallon drums, 20c., drums $8 50 extra. Naphtha has been
moderately active and firm 73676 degrees in 100-gallon
drums 17c., drums $8 50 extra. Spirits of turpentine has
been quiet and easy at 45c. Rosin has been dull and weak,
common to good strained $2 95.
TOBACCO.—Prices for domestic leaf have ruled steady.
Trade has been quiet. An increased inquiry from manufacturers has been reported at times, but actual sales have been
limited to small lots, there being no disposition to anticipate
needs. Sumatra has been fairly active and firm. Havana
has been quiet and steady.
%c.
16,127
COPPER has been quiet and steady; lake 12Y
,.c. Lead has been quiet and
26125
and electrolytic 123/
firmer at 4.323/
264.373/
2c. Spelter has been quiet and
steady at 4.5564.60c. Tin has been quiet and easier.
Straits 283/2c. Iron has been firm and more active, No. 1
Northern $16 50@$17, and No. 2 Southern $15 756416 75.
THE CHRONICLE
MAy 30 1908.1
1349
On Shipboard, Not Cleared for-
COTTON.
Friday Night, May 29 1908.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
64,162 bales, against 53,038 bales last week and 50,379
bales the previous week, making the total receipts since
theist of September 1907, 7,832,439 bales, against 9,490,514
bales for the same period of 1906-07, showing a decrease
since Sept. 1 1907 of 1,658,075 bales.
Sat.
Receipts at-
Mon.
Tues.
Wed.
Thurs.
Fri.
Great
May 29 at- Britain. France
New Orleans__
Galveston _
_
Savannah _
Charleston____
Mobile
Norfolk
New York
Other ports__ _
8,819
7,673
756
1:550
600
1,000
GerOther Coastmany. Foreign wise.
-2,676
5,967 7,811
551 13,289
3,967
5,876
2,096
500
4,700
200
14,100
700
1-,E11)
GOO
400 • ____
Total.
-25,267
31,356
3,452
500
6,200
14,100
2,500
2,000
Leaving
stock.
Total 1908.. 20,148
7,921 20,556 17,383 19,367 85,375
Total 1007.. 40,755
1,347 8,653 24,491 22,218 97,464
Total 1905.. 34,045 15,848 53,844 17,990 21,084 142,811
93,339
22,807
41,307
10,895
4,115
5,661
82,594
28,210
288,928
395,569
374,786
Total.
Speculation in cotton for future delivery has been on only
a moderate scale and although at one time prices were very
2,285
5-,1531.
3,575
3,616
2,610
1,666 19-,H6 strong, owing to heavy rains and floods in the Southwest,
246
144
1,358
622
57
60
229
4,282 there has latterly been considerable realizing, which has led
4,282
50 to a reaction. The July option, however, has been con25
25
918
1,554
507
2,007
2,266 9,940 spicuously firm and has greatly increased its
2-,5ii
premium
247
247
157
106
981 during the week over both October and December. Still,
1a-7
-565
127
121
33
33 the speculation has been largely professional, and this fact
365
-419
1,405
768
1.198
708 4,861
748
416
882
938
782 4,881 is beginning to be felt, particularly as much of the short
1,115
interest among the smaller operators has been eliminated.
150 Of late, too, the weather has somewhat improved, the heavy
1,592 rains ceasing and temperatures rising. Wall Street and
1,592
3
50
103
50
Southern operators have sold, in the one case it is supposed,
9,493 13,233 10,673 8,807 9,902 64,162 partly for short account and in the other as hedges. There
TOt: this week 12,054
has also been a good deal of scattered liquidation, not only
The following shows the week's total receipts, the total for local and Wall Street account, but also for such out-ofsince Sept. 1 1907, and the stocks to-night, compared with town interests as have recently taken part in the speculation
for a rise. The spot sales too at Liverpool, which were
last year:
recently 15,000 to 20,000 bales a day, have latterly fallen
1907708 .
Stock.
1906-07.
to 8,000. On the other hand, however, the consensus of
Receipts to
opinion here is that the crop outlook is less favorable than
This Since Ser
This Since Sep
May 29.
week.
1 1907. , week.
1 1906.
1907.
1908.
it was a month ago. Some local reports on the condition
16,0-11 2,360,0ss 13,902 3,811,200
82,306 have appeared, putting it at about 10% higher than a year
Galveston
54,163
108 5(
132 823
ago. Some argue that though the crop is two weeks late,.as
Port Arthur
CorpusChristi,&c.
37,821
146
71,762
about a fortnight in
1,882,485 11,994 2,225,769
118,600 117,385 compared with normal conditions, it is
New Orleans ___ _ 19,EZ
1,358 314,71
1,757 251,561
10,31.1
10,375 advance of last year, though it is insisted that excessive
Motile
4,28i
159,11
139,391
Pensacola
rains and cool weather have retarded growth, delayed
50
• 8,191
Jacksonville, &
7,541
25
9,940 1,458,692 10,724 1,443,94.
Savannah
44,75o
41,836 planting or necessitated a good deal of replanting. Mean247 197,10:.
195 170,534
Brunswick
429
868 time the stock here is small and steadily decreasing, while a
981 194,871
220 196,382
Charleston
11,395
6,600
better demand from New England is reported at New York,
33
531
Georgetown
1,145
4,861 486,421
505 321,179
Wilmington
15,608
10,949 even for the lower grades. In Liverpool, too, the stock is
4,881 515,1)43
6,261 568,942
19,761
Norfolk
25,405
NewportNews,&c.
_
6,56,
127
38,796
158 much smaller than that of a year ago. In fact, the statis3,65'
701
22,480
85,094 179,173 tical position generally is cited by the bulls as favorable to
New York
"i55 12,85'
202
70,755
Boston
6,484
10,546
1,592
Baltimore
75,155
548
58,061
6,654
6,157 their interests. They are also encouraged by some reports
103
Philadelphia
9,293
1,055
256
8,230
1,275 of improvement in the dry goods trade. To-day the trans64,162 7,832,437. 47,513 9,490,514 374,303 493,033 actions were small and mainly to even up over the holiday
Total
-Memorial Day. This liquidation took the shape of some
In order that comparison may be made with other years, selling of July, which was, accordingly, a little lower, and
of covering in the next crop months, which were therefore
we give below the totals at leading ports for six seasons:
slightly higher. Spot cotton has been quiet. Middling
uplands closed at 11.40c., an advance for the week of 30
1903.
1904.
Receipts at1905.
1908.
1906.
1907.
-- points.
------5,622
2,709
Galveston _ _ _
26,19
16,04
16,33(
13,902
Pt.Arthur,&c.
523
3,808
4,474
146
1,278
The rates on and off middling, as established Sept. 11 1907
14,072
7,523
New Orleans_
19,626
11,994
16,521
26,748
156 by the Revision Committee, at which grades other than
Mobile
3,381
82
1,757
4,99(
1,358
Savannah __ _
10,724
21,832
800 middling may be delivered on contract, are as follows:
2,529
9,94(`
19,619
,
___
633
Galveston ---Port Arthur
Corp. Christi,&c.
New Orleans_ Mobile
Pensacola _
Jacksonville, &c.
Savannah
Brunswick
Charleston
Georgetown
Wilmington
__
Norfolk
N'port News, &c
New York
Boston
Baltimore _ _
Philadelphia_ __ _
Brunswick
Charleston,&c
Wilmington_ _
Norfolk
N'port N., &c
All others_ _ _ _
Total this wk_
994
6,408
2,640
3,258
2,116 16,049
-
-159
6,186
145
220
505
6,261
127
1,732
1,718
333
3,972
5,736
378
6,305
3,098
1,591
8,613
19,185
2,128
13,975
28
4
2,245
1,097
782
54
245
9))
749
76
1,442
61,162
47,513
77,786
130,614
20,445
24,291
247
1,014
4,861
4,881
Since Sept. 1_ 7,832,439 9,490,514 7,426,996 9,086,109 6,994,686 7,532,336
The rates on and off middling, as established Sept. 11 1907
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Fair
Basis
c 1.75 on Middling
Strict mid. fair____1.50 on Strict low mid...c.0.30 off
Middling fair
1.25 on Low middling
1.00 oft
Strict good mid_ ___0.75 on Strict good ord
1.50 oft
Good middling_ _0.50 on Good ordinary
2.00 061
Strict middling.....0.25 on Strict g'd mid. tgd..0.35 on
Good mid. tinged__ Even
Strict mid.tinged c_0.20 off
Middling tinged_0.30 off
Strict low mid. ting.1.00 off
Low mid. tinged_ __1.50 oft
Middling stained___1.25 off
The exports for the week ending this evening reach a total
The official quotation for middling upland cotton in the
of 43,012 bales, of which 20,204 were to Great Britain,
9,912 to France and 12,896 to the rest of the Continent. New York market each day for the past week has been:
the
week
since
Sept.
1
and
1907.
May 23 to May 29Below are the exports for
Sat.
Mon. Tues. Wed.a Thurs. Fri
Mladllng upland
Exports
from-
Week .nding May 29 1908. From &pt. 1 1907 to May 29 1908.
Exported to-Exported toContiGreat
I Conti; Great
Britain. Fr'nce nent. Total. p Britain.!France: neat. , Total.
7,396 6,584
Galveston
Port Arthur_
Corp.Christi,&c
New Orleans-- 1,572 3,328 8,330
Mobile
Pensacola
4,432
Fernandina
Savannah -___ 2,454
1,819
BrunswickCharlestonWilmington_
Norfolk
Newport News
2,647
New York- --- 1,448
702
Boston
100
Baltimore - --- 2,200
Philadelphia -Portland, MeSln Francisco_
Seattle
Tacoma
Portland, Ore_
Pembin
Detroit.......
-20,204 9,912 12,896
Total
-Total 1906-07_ 14,265 7,656 28,191
_
13,980 892,068 ;2»,92._
48,024
879,087
60,476 108.00
2,895
2,895
13,230 819,915 231,789 662,685 1,714,389
67,409 60,934 110,062 238,405
48,161 48,614
4,432
67,444 164,219
166,258 89,821 010,112 866,191
87,707
87,208 174,915
10,408
34,050
44,458
122,757 28,520 313,067 464,344
27,385
6,709
34.094
1,636
1,636
4,095 238,011 32,266 277,908 548,185
702 133,951
11,570 145,521
2,300
43,970 4,049
63,292 111,311
40,130
14,355
54,485
1
48,622
48,622
70,472
70,472
30,768
30,768
1,050
1,050
4,273
2,111
11.50
11.5)
11.50
11.40
11.40
NEW YORK QUOTATIONS FOR 32 YEARS.
The quotations for middling upland at New York on
May 29 for each of the past 32 years have been as follows:
19u8 c
1937
1906
1905
1904
1903
1902
1901
11.90 1900.c
1089
11.70 1898
8.70 1897
13.20 1896_ _
11.70 1895_ _
9.50 1894
8.25 1893
9.1211892_c_
7.3811884.c
6.2511891
8.8811883
6.06 11890
12.62 11882
7.6211889
11.1211881
8.00 11888
_ _ _10.00 11880
7.38 11887
11.2511879
7.25 11886
9.19 11878
7.6211885
10.94 11877
11.62
10.81
12.12
10.88
11.69
13.06
11.10
11.19
MARKET AND SALES AT NEW YORK.
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
Spot Market
Closed.
2,111
Futures
Marka
Closed.
Sales of Spot and Contract.
Con- ConExport sum'n. tract.
Total.
43,012 2,749,902825,9183,352,7326,928,552
50,112 3,632,008895,4485,523,3378,050,793
.
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared at the ports named. We add similar figures for
New York.
11.20
Saturday_ _ Steady 10 pts adv_ _
Monday- -- Steady 30 pts adv_ _
Tuesday _- Steady
Wednesday Steady
Thursday _ Quiet 10 pts dee_
Friday.... Quiet
Total
Steady
Barely ste'dy
Barely st'dy _
Easy
Steady
Quiet
1,300
135
1,300
57
100
icc
135
1,300
157
1'10
_
1,492 1,500 2,992
[VOL. Lxxxvi.
THE CHRONICLE
1350
AT THE INTERIOR TOWNS the movement-that is,
FUTURES.-The highest, lowest and closing prices at
the receipts for the week and since Sept. 1, the shipments
New York the past week have been as follows:
for the week and the stocks to-night, and the same items
1 ,̀`;'i I I I fl 1 1
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for the corresponding period for the previous year-is set
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THE VISIBLE SUPPLY OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week's returns, and consequently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures
The above totals show that the interior stocks have de-for to-night (Friday), we add the item of exports from
the United States, including in it the exports of Friday creased during the week 32,842 bales and are to-night 20,943
bales more than at the same time last year. The receipts
only.
1907.
1906.
1905.
1908.
at all the towns has been 1,119 bales less than the same
May 29901,000
828,000
bales. 704,000 1,222,000
Stock at Liverpool
14,000
10,000
12,000 week last year.
9,000
Stock at London
Stock at Manchester
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Antwerp
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Total Continental stocks
94,000
67,000
55,000
782,000 1,326,000
9,000
20,000
375,000
437,000
982,000
13,000
235,000
118,000
4,000
46,000
17,000
21,000
260,000
3,000
19,000
71,000
21,000
145,000
4,000
11,000
49,000
8,000
895,000
11,000
345,000
140J
117,000
3,000
30,000
51,000
5,000
733,000
758,000
465,000
563,000
6).000
1,515,000 2,084,000 1,447,000 1,458,000
Total European stocks
199,000
177,000
92,000
India cotton afloat for Europe_ _ 115,000
185,497
192,471
324,000
American cotton afloat for Europe 178,726
33,000
18,000
21,000
Egypt,Brazil,&c.,afloat for Europe 46,000
163,000
119,000
95,000
170,000
Stock in Alexandria, Egypt
574,000
787,000 1,014,000
934,000
Stock in Bombay,India
374,303
493,033
517,597
547,186
Stock in U. S. ports
268,538
270,787
300,51
Stock In U. S. Interior towns ____ 288,581
0,376
5,770
3,007
29,220
U. S. exports to-day
-3,263,986 4,174,838 3,734,862 3,875,917
Total visible supply
Of the above, totals of American and other descriptions are as follows:
American787,000
750,000
bales._ 588,000 1,095,000
Liverpool stock
79,000
56,000
62,000
44,000
Manchester stock
678,000
410,000
654,000
531,000
Continental stock
185,497
192,471
178,726
324,000
American afloat for Europe
517,507
493,033
374,303
547,186
U.S port stocks
270,787
268,538
288,581
300,511
U.S. Interior stocks
3,007
5,770
9,376
29,220
U.S.exports to-day
.
2,154,986 2,804,838 2,236,862 2,525,917
Total American
East Indian, Brazil, &c.114,000
127,000
116,000
78,000
Llverpool stock
14,000
10,000
London stock
9,000
12,000
11,000
15,000
11,000
Manchester stock
7,000
55,000
80,000
79,000
32,000
Continental stock
177,000
India afloat for Europe
199,000
92,000
115,000
18,000
33,000
Egypt, Brazil, &c., afloat
46,000
21,000
95,000
119,000
Stock In Alexandria, Egypt
163,000
170,000
Stock in Bombay, India
787,000 1,014,000
674,000
934,000
Total East India, &c
Total American
1,109,000 1,370,000 1,498,000 1,350,000
2,154,988 2,804,838 2,236,862 2,525,917
Total visible supply
3,263.986 4,174,838 3,734,862 3,875,917
7.40d.
6.02d.
Middling Upland, Liverpool
6.525.
4.70d.
12.90c.
8.50c.
Middling Upland, New York
11.4 ic.
8.50c.
1034d.
11.25d. 7 11-16d.
Egypt, Good Brown, Liverpool
8 9-16d.
11.15d.
9.50d.
8.65d.
Peruvian, Rough Good, Liverpool
10.80d.
634d.
54d.
59id.
Broach, Fine, Liverpool
434d.
Tinnevelly, Good, Liverpool
5 7-16d. 5 11-16d. 5 9-16d. 4 7-16d.
Continental imports for the past week have been 88,000
bales.
The above figures for 1908 show a decrease over last week
of 135,298 bales, a loss of 910,852 bales from 1907, a decrease of 470,876 bales from 1906, and a loss of 611,931
bales from 1905.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-We give below a statement showing the
overland movement for the week and since Sept. 1, as
made up from telegraphic reports Friday night. The
results for the week and since Sept. 1 in the last two years
are as follows:
----1907-08---Since
Week. Sept. 1.
9,97) 405,678
3,456
190,845
475
32,561
49,385
738
46,602
629
1,618
80,182
208,353
514
--1906-07Since
Week. Sept. 1
Total gross overland
17,409 1,022,606
Deduct shipmentsOverland to N. Y., Boston, &c..„ 1,854
100,966
Between interior towns
302
62,118
Inland, &c.,from South
569
57,607
16,060 1,005,027
May 20ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Vlaginia po'nts
Via other routes, &c
Total to be deducted
Leaving total ne toveriand_a
2,725
220,601
14,684
801,915
10
1.,0
52
5i,
1
924
1,238
7
279
0171
80,312
81,413
1,1
,1n
743
4'7111ig
Via
305,933
1,707
508
3,185
150,535
93,124
58,719
5,490
311,378,
10,570 1,204,549
a Including movement by rail ot Canada.
The foregoing shows the week's net overland movement has been 14,684 bales, against 10,570 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
492,634 bales.
In Sight and Spinners'
Takings.
Receipts at ports to May 29
Net overland to May 29
South'n consumption to May 29
-----1907-08----Since
Sept. 1.
1Veek.
64,162 7,832,439
801,915
14,684
30,000 1,785,000
-----1906-07----Since
Week.
Sept. 1.
47,513 9,400,514
10,570 1,294,549
48,000 1,850,000
Total'marketed
Interior stocks in excess
117,846 10,419,354
207,998
*32,842
106,083 12,635,063
172,262
'24,243
Came into sight during week__ _ 85,004
10,627,352
Total in sight May 29
North'n spinn's takings to May 29 39,439 1,615,627
81,840
23,751
12,807,325
2,483,831
Decrease during week.
Movement into sight in previous years:
Week1906-June 1
1905-June 2
1904-June 3
1903-June 5
Bales. 1 Since Sept. 1112,77911005-06--June 1
159,46711904-05-June 2
51,84011903-04-June 3
58,03211902-03-June 5
Bales.
10,285,306
12,130,179
9,652,266
10,279,530
ATA.Y 30 1908.1
THE CHRONICLE
1351
QUOTATIONS FOR MIDDLING COTTON AT OTHER
Fort Worth, Texas.—We have had excessive
MARKETS.—Below are the closing quotations of middling days of the week, the precipitation being six rain on two
inches and
cotton at Southern and other principal cotton markets for thirty hundredths. Average thermometer 74, highest
86,
each day of the week.
lowest 62.
Henrietta, Texas.—Rain has fallen heavily on one day of
Cosing Quotations for Middling Cotton on—
the week, to the extent of one inch and seventy hundredths.
Week ending
May 29
The thermometer has averaged 74, the highest being 89 and
Sarday. Monday. Tuesday. Wed'day. Thurscry. Friday
the lowest 60.
11%
Galveston
11%
11%
11%
11%
11%
New Orleans_ _ _ 11%
Huntsville, Texas.—We have had heavy rain on one day
11%
11%
11%
11%
11%
11
Mobile
10%
10%
11
11
11
during the week, to the extent of three inches and seventy11%
Savannah
11%
11%
11%
11%
11%
one hundredths. The thermometer has averaged 81, ranging
11%
11%
Charleston
11%
11
11%
11%
11%
11%
11%
Wilmington__ _ 11
11%
11%
from 73 to 89.
11%
11%
Norfolk
11%
11%
11%
11%
Kerrville, Texas.—Rain has fallen excessively on two
11.20
11.10
11.50
Boston
11.50
11.50
11.40
11%
11%
Baltimore
11%
11%
118%
days during the week, the precipitation reaching three inches
118%
11.75
Philadelphia __ _ 11.45
11.75
11.75
11.65
11.65
and twenty-seven hundredths. The thermometer has
11%
Augusta
11%
11/g®
11%
11'%
11%
11%
11%
Memphis
11%
11%
11%
ranged from 68 to 91, averaging 80.
11%
St. Louis
11%
11%
11%
11%
11%
11%
Lampasas, Texas.—We have had excessive rain on three
Houston
11 5-16 11%
11%
11%
11%
11%
Little Rock
10'%
108%
11
11
days during the past week, the rainfall being three inches
11
11
and seventy-five hundredths. Average thermometer 75,
OUR COTTON ACREAGE REPORT.—Our cotton acre- highest 89 and lowest 61.
Longview, Texas'—Rain has fallen on two days the past
age report will probably be ready about the 1st of June.
Parties desiring the circular in quantities, with their business week, to the extent of forty-five hundredths of an inch. The
card printed thereon, should send in their orders as soon as thermometer has averaged 78, the highest being 95 and ths
lowest 61.
possible, to ensure early delivery.
Luling, Texas.—It has rained heavily on three days during
NEW ORLEANS OPTION MARKET.—The highest,
lowest and closing quotations for leading options in the New the week, the rainfall being two inches and fifty-two hunOrleans cotton market for the past week have been as follows: dredths. The thermometer has averaged 76, ranging from
61 to 90.
Nacogdoches, Texas.—Rain has fallen on one day during
May 23 to 29 Sarday, Monday, Tuesday, Wed'day, Thursd'y, Friday,
the week, the precipitation reaching sixty-one hundredths of
May—
an
inch. The thermometer has ranged from 63 to 87,
11.39-.41
Range
® -10.94 — 11.57 -- 11.24 — 11.25 — 11.13 — 11.20 -- averaging 75.
Closing
June—
Palestine, Texas.—We have had rain on one day during
Range
—
—
—@ --- —®10.94 • 11.57 -- 11.24 -- 11.17-18 11.08 — 11.15-.16 the past week, the rainfall being seventy-seven hundredths
Closing
10.77-.85 11.00-.48 11.16,43 11.18-.31 11.07-.24 11.10-.24 of an inch. Average thermometer 77, highest 86, lowest 68.
Range
10.84-.85 11.47-.48 11.15,17 11.17-.18 11.08 — 11.15,16
Paris, Texas.—We have had rain on three days during the
Closing
August—
Week, the rainfall being one inch and forty-eight hundredths.
Range
— ® -- —® -® —
—@10.50 — 10.85 — 10.60 — 10.75-.85 10.70
Closing
10.92-.98 The thermometer has averaged 76, the highest being 89
September—
and the lowest 63.
Range
9.87 -San Antonio, Texas.—We have had excessive rain on three
10.60 -- 9.95 -- 9.70 — 9.60 — 9.60-.70 9.85-.87
Closing
October—
days of the past week, the rainfall being three inches and
9.35-.43 9.47-.73 9.44-.65 9.38-.58 9.28-.46 9.33-.41
Range
9.40-.41 9.70-.71 9.45-.46 9.37-.38 9.32-.33 9.39-.40 sixty-six hundredths. The thermometer has averaged 74,
Closing
November—
ranging from 58 to 90.
Range
— ® -- — ® —
Taylor, Texas.—It has rained excessively on two days of
9.38 • 9.70 — 9.45 — 9.30-.36 —@-Closing
9.25-.28 9.31-.33
December—
the week, the rainfall reaching four inches and fifty-six
9.26-.34 9.35-.55 9.31-.46 9.22-.40 9.15-.32 9.21-.28 hundredths.
Range
The thermometer has ranged from 60 to 86,
Closing
9.30-.31 9.53-.54 9.31-.32 9.22-.23 9.18-.19 9.25-.26
averaging 73.
January—
Range
9.31-.32 .38-.50 9.34-.44 9.24-.36 9.18-.29 9.21-.28
Weatherford,
Texas.—We have had excessive rain on four
Closing
9.29-.31 9.50-.51 9.28-.30 9.21-.23 9.19-.21 9.26-.28
days during the past week, the rainfall being six inches and
Tone—
Spot
Steady. Firm. Steady. Steady. Steady. Steady. thirty-five hundredths. Average thermometer
75, highest
Options
Steady. Very sty. Steady. Easy.
Steady. Quiet.
89, lowest 60.
Holdenville,
Nominal.
Oklahoma.—T
here has been rain on four days
*
EAST INDIAN RAINFALL.—The Secretary of State for the past week, the rainfall reaching seven inches and ninetyeight
hundredths.
The thermometer has averaged 72,
India at London received the following telegram from the
ranging from 61 to 83.
Viceroy of India of date May 18:
Mangum,
Oklahoma.—It rained on three days in the early
Some rain fell during the week in every province; it was moderately
heavy in part of northern and northeastern India, and has benefited stand- part of the week, the rainfall reaching four inches and ninety
ing crops and facilitated the preparation of lands for autumn crops In that hundredths.
The thermometer has ranged from 54 to 89,
area. The general position Is little changed, but in central provinces there
has been a considerable increase in number of weavers requiring relief, averaging 72.
while in United Provinces there has been a decrease of 30,000 in the total
Oklahoma, Oklahoma.—There has been rain on four days
numbers on relief. In the latter provinces arrangements for provision of
small works In the neighborhood of villages to take the place of large public during the week, the precipitation reaching seven inches
works, on which the bulk of the famine-stricken are now employed, are and twenty-nine hundredths.
Average thermometer 70,
progressing steadily.
highest 83, lowest 57.
WEATHER REPORTS BY TELEGRAPH.—Advices to
Alexandria, Louisiana.—Dry all the week. The thermous by telegraph from the South this evening indicate that meter has averaged
82,the highest being 93 and the lowest 70.
rain has fallen in most sections during the week. In southern
Amite, Louisiana.—We have had rain on one day during
Oklahoma and northern Texas on Saturday and Sunday the week, to
the extent of thirty-five hundredths of an inch.
last excessive rainfall caused rivers to overflow, inundating The thermometer
has averaged 78, ranging from 66 to 91.
farm lands and doing other damage. Elsewhere the rainShreveport, Louisiana.—The highest known flood crest in
fall has been light and at some points dry weather has pre- the Red River-4
vailed. Temperature has been favorable in the main and at Arthur City, 3 feet 2 inches—was reported on Thursday •
from many districts outside of flooded sections improvement claimed to have Texas. Many thousand acres of crops are
been destroyed. We have had rain on three
in the crop is reported.
days during the past week, the rainfall being seventy-four
Galveston, Texas.—Torrential rains have done much dam- hundredths of an inch. Average thermometer 79, highest
age in northern Texas, washing uplands and overflowing all 90 and lowest 68.
river-bottom lands. The cultivation of the crop has been
New Orleans, Louisiana.—Rain has fallen on two days of
materially interfered with in the northern half of the State the week, the precipitation being three inches and nine hunand hot,clearing weather is needed for proper work. There dredths. The thermometer has averaged 81.
has been rain on one day the past week, the rainfall reaching
Columbus, Mississippi.—It has rained on one day of the
one inch and eighty-six hundredths. The thermometer week, the rainfall being twenty-four hundredths of an inch.
has averaged 76, ranging from 68 to 83.
The thermometer has averaged 80, the highest being 96 and
Abilene, Texas.—It has rained excessively on two days the lowest 65.
of the week, the rainfall reaching seven inches and sixteen
Leland, Mississippi.—We have had rain on one day
hundredths. The thermometer has ranged from 60 to 88, ing the past week, to the extent of fifteen hundredths ofduran
averaging 74.
inch. Average thermometer 74.7, highest 85,lowest 64.
Brenham, Texas.—Rain has fallen heavily on three days
Meridian, Mississippi.—We have had no rain during the
of the week, the rainfall being two inches and twenty-eight past week. Average thermometer 78, highest 93 and lowest
hundredths. Average thermometer 76, highest 88,lowest64. 63.
Corpus Christi, Texas.—We have had rain on two days
Vicksburg, Mississippi.—We have had a trace of rain on
during the week, the precipitation reaching six hundredths one day during the past week. Average thermometer 78,
of an inch. The thermometer has averaged 80, the highest highest 89, lowest 70.
being 84 and the lowest 76.
Nashville Tennessee.—We have had rain during the week,
Cuero, Texas.—There has been excessive rain on one day the rainfall being sixty-seven hundredths of an inch. Averthe past week, the rainfall reaching three inches and seventy- age thermometer 76, highest 91 and lowest 61.
six hundredths. The thermometer has averaged 77, ranging
Memphis, Tennessee.—Weather conditions very favorable
from 60 to 91.
and cultivation is progressing well. We have had rain on
Dallas, Texas.—Rain has fallen heavily on two days of the two days during the past week, to the extent of seventy-one
week, the precipitation being four inches and four hun- hundredths of an inch. Average thermometer 79.7, highest
dredths. The thermometer has ranged from 62 to 87, 91.2, lowest 69.
averaging 75.
Mobile,.Alabama.—Fine weather in the interior. Cotton
[VOL. Lxxxvi.
THE CHRONICLE
1352
WORLD'S SUPPLY AND TAKINGS OF COTTON.generally has good stands and is growing and developing rapidly. Blooms are reported in a few localities. We have had The following brief but comprehensive statement indicates
rain on one day during the past week, the rainfall being at a glance the world's supply of cotton for the week and since
thirty-three hundredths of an inch. Average thermometer Sept. 1, for the last two seasons, from all sources from which
statistics are obtainable also the takings, or amount gone
80, highest 90, lowest 69.
Montgomery, Alabama.-With hot days and nights, crops out of sight, for the like period.
are improving rapidly and getting clean. A few blooms are
reported. We have had no rain the past week. Average
1906-07.
1907-08.
Cotton Takings.
thermometer 81, highest 90, lowest 67.
Week and Season
Season.
Week.
Season.
Week.
Selma, Alabama.-We have had rain on two days of the
4,363,347
past week, the rainfall reaching ten hundredths of an inch. Visible supply May 22
3,399,284
1,784,156
2,291,844
Visible supply Sept. 1
Average thermometer 81, highest 94, lowest 67.
81,840 12,807,325
85,004 10,627,352
in sight to May 29 _ _ _ _
• Little Rock, Arkansas.-Weather more favorable for farm American
67,000 2,646,000
45,000 1,781,000
Bombay receipts to May 28 _ _ _ _
294,000
17,000
243,000
5,000
May 28_ _
work, but considerable land in valleys of White, Arkansas Other India ship'ts to
913,300
300
938,000
3,000
receipts to May 27
286,000
and Red rivers is under water. We have had rain on two Alexandria
18,000
205,000
2,000
Other supply to May 27_a
days of the past week, the rainfall reaching six hundredths
4,547,487 18,730,781
16,086,196
3,539,288
supply
Total
69.
of an inch. Average thermometer 78, highest 87, lowest
DeductEldorado, Arkansas.-We have had rain on one day the
3,263,986 3,263,986 4,174,838 4,174,838
past week, the rainfall reaching two hundredths of an inch. Visible supply to May 29
-275,302 12,822,210 372,649 14,555,943
Total takings to May 29
Average thermometer 77, highest 91,lowest 63.
10,900,643
207,349
9,803,210
226,302
America
which
Of
days
had
on
l'ain
three
Fort Smith, Arkansas.-We have
49,000 3,014,000 165,300 3,655,300
Of which other
of the.past week, the rainfall reaching thirty-six hundredths
64.
88,
75,
highest
lowest
of an inch. Average thermometer
Helena, Arkansas.-Fine farming weather. Crops are in
INDIA COTTON MOVEMENT FROM ALL PORTS.We
had rain
have
very good condition. No complaints.
receipts of cotton at Bombay and the shipments from all
The
hunof
the
extent
four
to
on one day during the past week,
ports for the week and for the season from Sept. 1 for
India
highest
79.5,
thermometer
dredths of an inch. Average
years have been as follows:
three
89, lowest 68.
on
durrain
one
day
been
Tallahassee, Florida.-There has
1905-06.
1907-08.
1996-07.
May 28.
ing the past week, the precipitation being one inch and fifteen
Since
Since
Since
Receipts athundredths. The thermometer has averaged 80, ranging
Week. Sept. 1. Week. Sept. 1. Week. Sept. 1.
from 67 to 93.
one
day
of
on
the
rain
45,000 1.781,000 59,000 2,846,000 33,000 2,403,000
Madison, Florida.-We have had
Bombay
week, the rainfall reaching one inch. The thermometer has
69.
lowest
the
averaged 80, the highest being 95 and
For the Week.
Since September 1.
Atlanta, Georgia.-We have had rain on three days the
Exports fromGreat ContiGreat
Contipast week, the rainfall being seventeen hundredths of an inch.
Total.
nent.
Britain. nent. Total. Britain.
The thermometer has ranged from 63 to 90,.averaging 77.
the
during
days
three
on
Augusta, Georgia.-It has rained
Bombay1,000 12,000 13,000
21,000 529,000 550,000
1907-08
week, the rainfall having reached twenty-one hundredths of
8,000 41,000 49,000
59,000 953,000 1,012,000
1906-07
an inch. The thermometer has averaged 78, the highest
17,000 17,000
51,000 716,000 767,000
1905-06
Calcuttabeing 94 and the lowest 65.
21,000
18,000
3,000
1907-08
Savannah, Georgia.-There has been rain on two days dur1;666 1,5435
7,000 103,000 110,000
1906-07
97,000
92,000
an
of
4,000
5,000
4,000
hundredths
1905-06
seventy-four
ing the week, to the extent of
30,000
inch. The thermometer has averaged'79, ranging from 69 Madras
25,000
5,000
1907-08
25,000
22,000
3,000
1906-07
to 90.
38,000
36,000
2,000
1905-06
on
rain
days
three
been
has
e
Washington, Georgia.-Ther
All others13,000 179,000 192,000
5,000
---- 5,000
1907-08
during the week, the rainfall reaching ninety-two hundredths
8,000 151,000 159,000
16,000 16,000
1906-07
of an inch. Thermometer has ranged from 64 to 98, averag1-.666 8,000 9,000 13,000 113,000 126,000
1905-06
ing 81.
allGreenwood, South Carolina.-There has been no rain the Total
42,000 751,000 793,000
1,000 17,000 18,000
1907-08
77,000 1,229,000 1,306,000
past week. The thermometer has averaged 78, ranging from
8,000 58,000 66,000
1906-07
957,000 1,028,000
71,000
1.000
1905-06
30,000
29,000
66 to 90.
Stateburg, South Carolina.-7.-We have had light rain on
-- - three days during the week, the rainfall reaching forty-two
According to the foregoing Bombay appears to show a
hundredths of an inch. More rain will soon be needed. decrease compared with last year in the week's receipts of
The thermometer has ranged from 64 to 91, averaging 77.
14,000 bales. Exports from all India ports record a loss of
Charlotte, North Carolina.-The week's rainfall has been 48,000 bales during the week and since Sept. 1 show a defive hundredths of an inch, on one day. The thermometer crease of 513,000 bales.
has averaged 77, the highest being 89 and lowest 63.
Greensboro, North Carolina.-There has been rain on one
MANCHESTER MARKET.-Our report received by
day during the week, the rainfall reaching twenty-two hun- cable to-night from Manchester states that the market
dredths of an inch. The thermometer has averaged 76, is quiet for yarns.and steady for shirtings. Merchants are
ranging from 63 to 90.
buying very sparingly. We give the prices for to-day
Raleigh, North Carolina.-We have had only a trace of below and leave those for previous weeks of this and last
rain during the week. The thermometer has, ranged from year for comparison.
64 to.90, averaging 77.
Charleston, South Carolina.-There has been rain on three
1907.
1908.
days during the week, to the extent of nineteen hundredths
831 lb.. Shill- Coen
83i lbs. Shirt- Cotn
of an inch. The thermometer has averaged 78, tlie highest
ings. COMMOn Mid
32s Cop
32r Cop
ing:, common Mid
Opts
to finest.
Twist.
being 90 and the lowest 70.
to finest.
Uprs
Tt1713l.
-The following statement we have also received by teles. d. d.
d. e. d.
d.
s.
d.
d.
d.
s.
d.
d.
graph, showing the height of rivers at the points named Apr.
6.28
5.57 10
38 114 6 8409 9
17 7 15-150 9s4 5 0 (48 1
at 8 a. m. of the dates given:
0.39
10
New Orleans
Memphis
_ ._
NashvilleShreveport
Vicksbura
Above zero of gauge..
Above zero of gauge_
Above zero of gauge_
Above zero of gauge_
Above zero of gauge_
May 29 1908. May 31 1907.
, Feet.
Feet.
17.3
18.9
19.8
33.0
9.2
.
12.2
18.0
25.8
45.4
47.2
24 7 13-16@
May
1 7 11-16©
©
8 7%
15 84
22 84
29 8 7-160
9
4 11
0103 0
8% 4 103108 0
851 4 103@7 104
9500 08 0
9% 5 00 68 0
04 5 1 388 14
5.31 104
9
114 6 9 09
5.4 104 38 11% 6 10 os 11
5.69 1034 (4) 114 6 1034389 10
6.08 10438 10 611 @1001)
6.35 10% co 11% '611 010 0
6.52 10 15-160 124 70 @10134
6.63
6.75
6.96
7.10
7.40
ALEXANDRIA RECEIPTS AND SHIPMENTS OF
COTTON.-Through arrangements made with Messrs.
EGYPTIAN COTTON CROP.-Messrs. R. & 0. LindeChoremi, Benachi & Co., of Liverpool and Alexandria, we mann of Alexandria, under date of Friday, May 8, have
of
at
cotton
now receive a weekly cable of the movements
advised their -Boston agents, Messrs. L. H. A. Schwartz &
Alexandria, Egypt. The following are the receipts and Co.,, as follows:
week
corresponding
shipments for the past week and for the
Arrivals of old crop continue very large and it Is quite certain that the
of the previous two years:
crop will exceed 7 million cantars. Stock, though reduced by quite
Alexandria, Egypt,
May 27.
Receipts (cantars)This week
•
Since Sept. 1
Export (bales)To Liverpool
To Manchester
To Continent
To America
Total exports
1907-08.
1906-07.
1905-06,
23,000
7,032,495
3,000
6,849,765
2,000
5,862,310
This Since
This Since
This Since
week. Sept. 1. week. Sept. 1. week. Sept. 1.
4,00 210,136
7,250 189,284
3,500 317,133
800 61.511
2,750 201,817 1,000 100,928
160798
5,250 193,477 .
2,750 316,549 3,000 296,704
500 67,869
300 105,76)
15,553 778,064 11,050 814,612
4,500 716,299
heavy shipments this week, remains large.
The plants (of new crop) are still backward but otherwise evcrythin
progresses well and water Is sufficient for the present. There has been
no re sowings to date.
SHIPPING NEWS.-As shown on a previous page, the
exports o cotton from the United States the past week have
reached 43,012. bales. . The .shipments in detail, as made
up from mail and- telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool-May 26-Armenian, 1,323 upland, 25 1,448
23
_May
-Arabic, 100
foreign_ __
1,447
To Bremen-May 27-Del/flinger, 1,447
163
To Antwerp-May 22-Zeeland, 163
570
To Genoa-May 23-Regina d'Italia, 579
424
• To Japan-May 25-Vandalia, 424 _
34
34
To China-May 25,-Vandalla,
MAY 30 1908.1
THE CHRONICLE
Total bales.
7,3s6
GALVESTON-To Liverpool-May 26-Benedict, 7,396
6,584
. To Havre-May 23-Matteawan, 6,584
336
NEW ORLEANS-To London-May 27-Californian, 336
1,236
To.Belfast-May 25-Ramore Head, 1,236
3,328
To Havre-May 23-VirgInie, 3,328
,185
To Hamburg-May 28-Hispania, 1,185
1,194
To Antwerp-May 27-Californian„
.
To Barcelona-May 28-Juan Forgas, 1,491_ _ _ ..May 29-Giulla,
2,870
1,379 _
.736
___
9--diu-lia, i,i56To Venice-May -21,345
,..
To Trieste-May 29-Giulia, 1,34
4,432
PENSACOLA-To Liverpool-May 23-Gracla, 4,432
178
SAVANNAH-To Liverpool-May 25-Platea, 178
2,276
To Manchester-May 25-Platea, 2,276
00
To Bremen-May 27-Harlech, 600 _ _ _ _May 28-0swestry, 300
To Hamburg-May 27-Harlech, 204_ __ _May 28-0swestry,625 919
BOSTON-To Liverpool-May 22-Cymric, 452_ __ _May 26-Phila552
delphian, 100
150
To Manchester-May 22-Bostonian, 150
2,200
BALTIMORE-To Liverpool-May 22-Templemore, 2,200
100
To Rotterdam-May 22-Runo, 100
_ 43,012
Total:__ _ __
particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
The
French Ger- ---Oth.Europe- Mez.
• IIrgergt ports. snoop. North. South. • &c.'Japan. Total.
'
4,005.
'
1,448
_New York
-------_
-----7,396 6,584 - ----__
___ 13,980
Galveston.
3,230
11- 4
328 1,1-8
NewOrleans _ _ _ 1,572
4,432 ----------- -------------4,432
Pensacola
,81
2,454
____
------4,273
Savannah
---- ---------------------702
702
-_
--__
___Boston
___
___
____
2,210
2,300
100
Baltimore
- - ---- --- --- --- --- ---- --- --20,204 0,912 4,451 1,457 6,530
34
424 43,012
Total
Theexports to Japan since Sept. 1 have been 148,686 bales
from ,Pacific ports and 37,517 bales from New York.
Cotton freights at New York the past week have been as
follows, quotations being in cents per 100 lbs.:
.
Liverpool asked_ -- _
Manchester
Havre
Bremen
Hamburg
Ar twerp
Ghent, via Antwerp
Reval
Gothenburg
Barcelona
Genoa
Trieste
Japan
Sat.
12
10
21
18
22
20
26
25
28
20
18
28
40
Mon.
12
10
21
18
22
20
26
25
28
20
18
28
40
Wed.
12
10
21
18
22
20
26
25
28
20
18
28
40
Tues.
12
10
21
18
22
20
26
25
28
20
18
28
40
Thurs.
12
10
21
18
22
20
26
25
28
20
18
28
40
Fri.
12
10
21
18
. 22
20
26
25
28
20
18
28
40
LIVERPOOL.-By cable from Liverpool we have the
lowing statement of the week s sales, stocks, drc., at that port:
May 8.
kaies 97,000
Sales of the week
Of which speculators took__ 2,000
Of which exporters took ____ 3,000
90,000
Sales. American
15,000
Actual export
58,000
Forwarded
842,000
Total stock-Estimated
Of which American-Est__ _712,000
26,000
Total import of the week
18,000
Of which American
Amount afloat
118,000
Of which American
95,000
, May 15.
106,000
5,000
8,000
93,000
12,000
76,000
823,000
696,000
57,000
12,000
66,000
37,000
May 22.
87,000
3,000
4,000
79,000
10,000
48,000
759,000
638,000
14,000
6,000
91,000
57,000
Mau 2).
52,u00
3,000
5,000
46,000
9,000
68,000
704,000
583,000
21,000
15.000
106,000
60,000
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:
1353.
centres of the Northwest and the Southwest report a slight
improvement in the demand, business as a whole has been
extremely dull everywhere. The output continues in excess
of the sales. Rye flour and corn meal have been quiet and
steady.
Wheat has been subject to manifest manipulation in the
interest of bulls, particularly at the West, where large
operators have been marking up prices at the expense of
prominent shorts. The believers in better prices have
been favored, as they contend, by decreasing world's stocks,
heavy rains in the Southwest, reports of Hessian fly in
Kansas and the fact that large interests at the West had
seemingly sold the market short with a free hand. In fact,
it appears that certain interests which were heavily "long"
of corn were short of'wheat, while interests quite as prominent were long of wheat and short of corn, the result being
a nervous erratic wheat market, with .more or less violent
fluctuations. Yet the general impression is that the outlook for the crop is on the whole favorable, and though
the world's shipments are considerably smaller than at
the sante time last year, they are larger than they were
recently. The Northwestern receipts, however, are smaller
than they were a year ago. At times a good cash demand
has prevailed there. European markets, moreover, have
on the whole been pretty firm. Drought is reported in
southeastern Europe,'and, although the export trade during
the past week has been light, it is argued that the inevitable
result of any deficiency in European crops must sooner
or later appear in a good European demand for American
wheat: A London statistician takes the ground indeed
that there will be "quite a struggle between supply and
demand in Europe before the new crop becomes available,"
adding: "We do not suggest that there will not be enough
to"go round, but we do think that within the next two
months buyers may find it difficult to supply their wants
at present prices." The technical position, however,
viewed from the speculative standpoint has been weakened
by the recent heavy liquidation of short obligations and
of late less attention has been paid to reports of rains and
insects in the Southwest. To-day interest centered largely
in May at Chicago. Fluctuations in it were frequent and
sharp. At one time it was 2 cents higher than at the close
on Thursday, owing to bull manipulation and covering of
shorts. It closed at $1.103., showing a net rise for the
day of 1M c. May here was easier. New-crop months
here and at the West declined, owing to excellent crop
prospects in most sections of the country and general selling.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
•100
No. 2 red winter
100% 102% 101% 100% 9954
May delivery In elevator
10754 '10834 10754 10634 1C4
10154 100% 99% 1841
July delivery In elevator
99% 100
2
September delivery In elevator
953% 9434
9434 951% 9754 96%
• Late July.
DAILY CLOSING PRICES OF WHEAT,FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
May delivery In elevator
11054
101% 102% 104% 10654 109
July delivery In elevator
9254 92
9034 LO%
903% 91
September delivery In elevator_ _ _ _ 8634 87% 8934 89
8834 87%
Indian corn futures have advanced. The dominating
factor has been the manipulation of the May option at
Fair
Chicago, which has advanced to new high records, selling
Fair
Good
Quiet.
Good
business
Quieter.
business
%c. on Thursday. There has been considerable
up to 823
demand.. demand.
doing.
doing.
covering in the open market at time's. It has also been
6.65
6.66
6.63
6.49
6.52
Mid.UpPds.
6.38
reported that private settlements amounting to more than
12,000
8,000
5,000,000 bushels of short May have been made ,largely for
12,000
8,000
8,000
8,000
-Sales
1,000
1,000
500
500
4,000
800
Spec.&exp.
account of a prominent Wall Street operator. The weather
has been more favorable in the main but heavy rains have
Quiet at Very sty.at Steady at Steady at Irregular, Quiet at
Futures.
3044 pts.
Market I 103 nts. 7010 pts. 10@l2 pts. 13403 Pis. unch. to
occurred
in some sections at times and it is believed that,
advance
1 pt. dec.
decline.
advance
decline.
J decline.
opened
owing to the delay in field work,the acreage will be considerQuiet
at
at
Barely
Easy
At
Firm.
Steady
sty.
Feverish
at
'Market )
ably smaller than was originally intended. Bulls on May are
4
/ 254nts.dec. at6©22pts. 7 pts.dec.to 4 nts.dec.to uneh. to 134883 pts. supposed to have sold the distant months rather freely of
dec.
I'M. to454pts.ad advance. 1 pt. adv. 4% pts.adv decline.
late. There has been scattered selling, too, of the new-Crop
months on the generally better weather. To-day prices
The prices of futures at Liverpool for each day are given were firm early on covering of shorts and unsettled weather in
below. Prices are on the basis of uplands, Good Ordinary some sections, but later the market weakened, owing to a
clause, unless otherwise stated.
break in May,liquidation and selling of the distant months
The prices are given in pence and 100185. Thus: 5 80 means 5 80-100d.
by cash interests.
Spot.
Market
12:15
P.M.
Saturday.
Monday.
Tuesday. Wednesday. Thursday.
Friday.
Tues.
Thurs.
Wed.
May 23
Mon.
Fri.
Sat.
to
May 29. 12% 12% 12% 4 123%
123% 4 12% 4
P.m. p.m. p.m. P.m. P.m. n.m. P.m.
P.m. P. • p. . p.m.
----a.
d.
d.
d.
d.
d..
d.
d.
d.
d.
d.
5 80 0454 02 06 95 03 99% 89% 97 92 9534
May _ _ _ _
5 7754 97% 95 00% 00% 9854 94% 85 924 87 9034
May-June
5 72% 904 8854 94% 84 91% 87% 78 86% 81
June-July
84%
76 79%
5 6834 85% 82 89 7834 864 82% 73 81
July-Aug_
57
5 4634 6254 59 65 55 6154 5754 50
52 5434
Au.-Sep5 24
30% 35% 3054 2454 28
25
3614 33 40
24
Sent -Oct.
21
16
10% 14
5 1154 23% 18% 24% 17
10
12%
Oct.-Nov_
5 0534 16
14 094 04 07 03 05
11% 18
11
Nov.-Dec.
5 01
1034 07 04 07% 10 04 09% 03 99 01
Dec.-Jan_
96% 00 06 98
4 98 07 04
05 07 01
11
Jan.-Feb_
9654 (10
4 98 07 04
11
05 07 01
96 98
Feb.-Mch.
11
4 98 07 04
05 07 01 96% 00 96 08
Mch.-Apr.
5.4
BREADSTUFFS.
Friday, May 29th 1908.
Prices for wheat flour have been steady in the main.
The trading has continued on a hand-to-mouth basis here.
There is no more disposition to anticipate requirements
now than there was some months ago. Export trade has
been stagnant. While a few mills at some of the large
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK..
Sat. Mon. Tues. Wed. Thurs. Fri.
80
78
78
78
78
78
Cash corn
_
May delivery In elevator
7834 79%
763% 76% 79
77% 76
77
75
75% 75
July delivery In elevator__ _
74 % 74%
September delivery in elevator
72% 73
7454 75
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
784 8
60
84 8
4 6
62
1%
34 8
6
(
7
,4
34
76
4%
7
664 6
May delivery in elevator_
July delivery in elevator
64% 64% 663% 66% (6% 65%
September delivery In elevator
Oats for future delivery in the Western market have advanced, owing to bull manipulation of May, the strength of
corn and covering of shorts. May established a new high
record. Bulls have been favored by reports of insect damage
in Illinois and Indiana and also by a falling off in the receipts.
The covering was active at times. Cash interests which
have been back of the May manipulation have sold the newcrop months rather freely. The weather of late has been
favorable in the main and there has been considerable selling
of the distant months on Letter crop prospects in most sections. To-day prices were firmer early on covering of shorts
and bullish crop reports from some sections. ]Later the
market weakened, May falling sharply, on liquidation. Deliverics on May contracts during the month have amounted
to about 9,000,000 bushels.
FLOUR.
*4 80 034 85
$3 75 a$4 co Kansas straights
3 15 Blended clears
3 On
5 30 © 5 41
4 10 (di 4 25 Blended patents
5 50 @ 6 5'
5 00 @ 525 Rye flour
461 @ 5 15
Nominal
5 45 @ 6 35 Buckwheat flour
4 75 (d) 5 10 Graham flour
Nominal.
Corn meal
3 70 ai 4 40
GRAIN.
c.
Corn (new), per bush.—
Wheat, per bush.—
C.
No. 2 mixed
1173%
N. Duluth, No. 1
f.o.b. 753%
No. 2 yellow
.153%
Nominal
N. Duluth, No. 2
No. 2 white
f.o.b.*99
Nominal
Red winter, No.2
1103% Rye per bush.—
Hard "
No. 2 Western
Oats, per bush.—
91
58 @59 3%
State and Jersey
white
Natural
Nominal
46
55
Barley—Malting
mixed
Nominal
46
Feeding
white,clipped_ 58 @6()
Nominal
Low grades
Second clears
Clears
Straights
Patent, spring
Patent, winter
Kansas patents
*L- ite July.
GOVERNMENT WEEKLY WEATHER REPORT.—
Mr. James Berry, Chief of the Climatological Division of
the United States Weather Bureau, made public on Tuesday
the telegraphic reports on the weather in the various States
for the week ending May 25, summarizing them as follows:
The temperature during the week ending May 25 1908 over the Eastern
half of the country was above the normal and generally favorable, but in
the Rocky Mountain and plateau regions and on the north Pacific Coast
It was much below the normal, and unfavorable. Light frosts occurred in
the upper Missouri Valley and on the north Pacific coast, and light to
heavy frosts and freezing temperatures were common throughout the middle
and northern Rocky Mountain and Plateau regions.
Very heavy rains fell over a large part of Texas, generally throughout
Oklahoma, In portions of the upper Mississippi and Red River of the North
valleys and northern Rocky Mountain region. Damaging freshets occurred
In Texas, and much low land In Oklahoma and Louisiana was flooded.
There were severe local storms in the western portion of the upper Lake
region, Texas and portions of the south Atlantic States during the fore part
offthe week, but most of the country experienced no damaging local storms.
There was much cloudiness in the Atlantic'coast districts northward of
Georgia, in Texas, and from the upper Lake region westward to the north
Pacific coasts elsewhere there was more than the usual sunshine.
For other tables usually given here see Daze 1323
THE DRY GOODS TRADE.
New York, Friday Night, May 29, 1908.
The expedited revision in the price of staple prints and
ginghams was duly announced during the week and was
of such a radical character that buyers have since been
active in placing orders, both for immediate requirements
and for future needs. While some are inclined to criticize
the action of manufacturers in naming such low prices, the
best sentiment in the trade is that they have done wisely
in making the lowest prices possible at once, rather than
reducing values gradually, and that they will meet with the
same success that has followed similar action in other departments of the market. Orders generally in the primary
market have been received in somewhat larger volume,
Western centres having apparently appreciated the fact CZ
01
that prices have been put on the lowest possible level, and CD
W .0
O
that any further movement is likely to be upward rather
than downward. While lines like prints, ginghams and
wide sheetings have been marked down until they are on 681 't
0 CD
MD 00 Co
a level with other goods, advances have taken place in print 00
r. go co
cloths, drills, sheetings and linings, which at one time were 03 .F. ,k • 10 .1. 02
Cfl'
a
sold considerably below the actual cost of manufacturing.
The new wage scale at Fall River went into effect on Monday
00
05(0(0(003
last and since that time some of the largest mills have an.a• 109
c1
c0 :017
."v .1
.11
nounced the resumption of full time. Export business
has been rather quieter, although some sales to India and
401
China have been recorded; trade with miscellaneous coun- z
clioovv
tries has been irregular, with foreign manufacturers com06-000
(0
600061
peting more actively for what business is offering. The
a""co
•
0,
men's wear woolen and worsted goods market is fairly <4
active and duplicate orders for dress goods have been coming bl
03,003(068'0vNeth
06 •
in rather more freely.
DOMESTIC COTTON GOODS.—The exports of cotton p. 030
goods from this port Tor the week ending May 23 were 2,232 ma
con"vv
packages, valued at $160,522, their destination being to the
points specified in the table below:
OD v. co OD
---1907---------1908---Since
Since
•Week. Jan. 1.
Week. Jan. 1.
18
256
957
2
44
436
552
3
1,094
11,978
10,043
110
4,539
4,035
554
18,753
11,399
50
3,597
29
2,359i
. ii
9,767
8,944
474
51
1,005
810
5
187
6,482
5,695
110
381
19,228
17,505
458
275
13,946
7,290
547
▪ r. et CI 0
0060000
,
W.
W
. ID
ee "1 01 00
0
•
•
C.
v.
80
.co
co
.00lco
.cci rt
0
00
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040036-60
veeNNvin
M
n.nc4
r. mo n go I to00
r. N N v. I 4. r. co
ci o.
.
I go" r
r3 0
' 00
cc;v ,r co r. J '
8, UA I 0 ut
v4
ut
•
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'66-0060 (0 60 co
vv. co
o
oo
222iS
I...WON
. h0
.
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00
06
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6000
00
.1...
.01
01
-p0
01
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.
1 °°.
60
14
I
40
60
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kr;
00
ut
CD
00
.
or.nov. co
.
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C.< 1.4
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:3
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0
t.
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O
2,448
88,840
Total
2,232 -.70,707
coo
- The value of these New York exports since Jan. 1 has been r:a
$4,645,849 in 1908, against $5,647,722 in 1907.
4/
The reduction of 1Xc. in the price of staple prints to 4Xc. ma
been
has
and
more
expected
than
was
had been generally
followed by the placing of some large orders by jobbers 41.
others
who
and
have been waiting for some time for this El
development; a heavy business is looked forward to at these
prices, as it is realized that the curtailment of manufacture
of these goods has been considerable, and that the marke t :g
may not remain long at this level. The reduction in th e
nommo
0
co 00 00 0 0 on
0vVhcli..0
oor-coo oo
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:3 2 00
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4-4
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6000
'-460
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p.0 en
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A
ov24,;1
Total imports
The following are closing quotations:
price of standard staple ginghams to 5c. was not quite so
severe, but seems to have met the demands of the trade.
Converters have been fairly large buyers of heavy brown
drills and sheetings during the week, believing that there is
more work in store for them shortly. Prices have held
firm and drills are slightly higher than they were a week
ago. Medium and light-weight drills and sheetings have
met with a moderate request and continue firm. Sales
for export have included about 2,500 bales of light-weight
sheetings for China and 1,000 bales of drills for India, and
inquiries are in the market for some 3.25-yard drills for
China. Domestic purchases of bleached goods, virdteicularly
sheetthe better-known tickets, have been heavy.
ings have been placed upon a very low level and the reduction has been followed by an increase in the demand.
Linings have been advanced in sympathy with the firmer
tone of the gray goods market. Coarse, colored cottons
have been quiet, but standard duck has been sold in fair
quantities. Napped goods are firmer. Narrow print cloths
are slightly higher and fair orders have been received, both
for these and for wide goods.
WOOLEN GOODS.—Duplicate orders for men's wear
heavy-weight woolen and worsted goods have been again
received in fair volume during the week and the number
of manufacturers who are now assured of a moderately
satisfactory season is daily increasing. Some are favored
more than others, however, and while some lines are practically sold up, other mills do not yet know where they stand.
The goods that have been mostly ordered up to the present
time are the medium and cheaper grade fabrics, but a large
reordering business is expected in high-grade goods later
on. .It is stated that the volume of woolen business so far
placed compares very favorably with that of worsted and
that the former will be relatively larger than the latter,
when compared with the two or three preceding seasons.
Strong efforts are being made to delay the openeing of new
spring lines as long as possible, but some of these have
already been shown. Duplicate ordering of dress goods
has been rather heavier during the past week, but it has
gone mostly to a few individual mills, and has not been
satisfactorily distributed. The bulk of the orders are for
worsteds, and the only woolen fabric to be taken in any
volume is broadcloth, manufacturers of which report a
very satisfactory demand.
FOREIGN DRY GOODS.—There is some pressure still
to sell imported woolen and worsted dress goods and supplies are believed to be heavy. Sales of silks and ribbons
at first hands are very small. Linen orders for future delivery have been considerably heavier. Burlaps are easier
for all positions.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending May 23 1908 and since
Jan. 1 1908, and for the corresponding periods of last year,
are as follows:
C.. et <V el <V I 0 C. I C.
4
VA Tr I
!=7. 1 `;*
CA 0 CA U2
•noovei
2",3 c';',
{,; GT,g2°
V0
OA ct et vt el
"A t<
t<
DURING SAME PERIOD.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Wed.
Sat.
Mon.
Tues.
Thurs.
Fri.
56
56
56
56
56
56
No. 2 mixed
White clipped, 32 to
34 lbs
573%-50 573%-59 57%-59 573%-59 573%-59 58-60
DAILY CLOSING PRICES OF OATS IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Frt.
May delivery in elevator
543% 543% 553% 56% 563% 52
/
8 483% 473% 48%
July delivery in elevator__ _
_47% 473% 476
New York to May 23—
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VOL. Lxxxvi.
THE CHRONICLE
1354
MAY 30 1908.
THE CHRONICLE
STATf. AND CITY DEffiliTNENT.
STATE AND CITY SECTION.
With to-day's issue of the "Chronicle" we send to our
subscribers a new number of our "State and City" section
revised to date. The editorial discussions in the same
embrace the following topics: "The Municipal Bond Sales
of 1907" and the "Investments of the New York Savings
Banks."
News Items.
Connecticut.—Atlantic Coast Line RR. Bonds as Investments
for Savings Banks.—State Bank Commissioner N. S. Lippitt,
has decided that the bonds of the Atlantic Coast Line RR.
Co. are legal investments for Connecticut savings banks.
Attorney-General Marcus H. Holcomb had given an opinion,
it will be remembered, that the bonds did not meet the
requirements of the savings bank law, owing to the fact that
the company paid its last dividend with 4% certificates of
indebtedness instead of in cash. See V. 86, p. 680.
Illinois.—Legislature Adjourns.—The regular session of
the Forty-fifth General Assembly, said to be the longest
ever held by this or any other State, ended at noon on
May 23. The Legislature began work on Jan. 9 1907, and,
as already stated in V. 84, p. 1260, took a recess on May 16
1907 until Oct. 8 1907. Prior to adjournment the Legislature passed the labor bill requested by the State Federation and providing that mine operators report working conditions of mines. The revenue and bond measures urged
by Mayor Busse of Chicago for the purpose of increasing the
borrowing power of municipalities failed to pass.
Nevada.—Death of Governor.—John Sparks, Governor of
Nevada, died at 8:30 a. m. on May 22. Governor Sparks
was 64 years of age and was elected Governor in 1902 and
again in 1906 by large majorities. Lieutenant-Governor
D. S. Dickerson succeeds him .as Governor.
New York City.—Bonds Listed.—On May 28 the $47,000,000 4% gold corporate stock (four issues) due in 1957, and
$3,000,000 43% gold assessment bonds (two issues) due in
1917, sold on Feb. 17 (V. 86, p. 498), were admitted to the
Stock List of the New York Stock Exchange.
New York State.—Exemption from Taxation.—The Legislature of 1908 passed a bill (Chapter 256, Laws of 1908)
which provides for an amendment to Section 7 of Chapter
685, Laws of 1892, as amended by Chapters 192 and 466,
Laws of 1893, Chapter 54, Laws of 1897 and Chapter 333,
Laws of 1901. This amendment provides that "all bonds
of a municipal corporation, until payable, shall be exempt
from taxation for town, municipal or State purposes,"
whereas under the old law Section 7 exempted from taxation
only bonds issued for refunding purposes.
Governor's Special Message to Legislature.—Governor
Hughes, in a special message sent to the Legislature on May
27, recommended legislation on the following subjects:
Extension of the jurisdiction of the Court of Claims so as to give It authority to consider all claims, thus doing away with the necessity Of the
Leflature passing special bills authorizing persons to go to court for relief.
Making an additional appropriation fo: the elimination of grade crossings
Making an appropriation to carry Ihetrseuoft the Consolidated Gas ComAttorney-General
panyn
1 o
theedreSistaoteos Supreme
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money
for the Attorney-General to defend the action.
Providing that the celebrated "Ike" Baker farm at Comstock, Washington
County, be used as the site for a State farm for women misdemeanants,
which was established by a law passed at the regular session.
Authorizing villages to borrow money in anticipation of the payment of
taxes.
Making suitable pravislan so that the city of Now Rochelle can bar:ow
money and be placed on a sound financial basis.
Authorizing the village of Geneseo, Livingston County, to borrow money.
Legalizing taxes and bond Issues In several villages for local improvements.
To provide suitable harbor facilities for the barge caoal at Syracuse.
The subject of race-track gambling, which was the real
occasion for the convening of the Legislature in extraordinary session, is not referred to, it being withheld awaiting
the recovery of a Senator whose vote would be necessary
to pass the measure desired by the Governor.
Oklahoma.—Legislature Adjourns.—The first Legislature
of this State which convened Dec. 2 1907 adjourned at
midnight on May 26.
Rhode Island.—Legislature Adjourns.—The Legislature of
this State, which has been in session since the first Tuesday
in January, adjourned on May 26. One of the more important measures passed during the closing hours of the session
was the "Banking Act," which provides for the general regu-,
lation of banking institutions in Rhode Island through the
appointment of a Bank Commissioner and by restrictive
legislation. The Act makes some important changes in the
Statute regulating the investments of savings institutions.
Another Act passed by the Legislature provides for the submission to a vote of the electors of the State of a $300,000
bond issue for the purpose of erecting certain buildings at
the State institutions.
Sacramento County (P. 0. Sacramento), Cal.—Bonds Declared Valid.—The State Supreme Court on April 26 declared
valid the $1,105,000 bonds voted last September for the purpose of erecting a court-housej constructing roads and building and repairing bridges. The decision was rendered in a
suit brought by Howard K Johnston and others to compelthe
1355
County Auditor to recognize the validity of the issue,the bonds
of which he had refused to sign, on the ground that they
could not be legally issued. According to the San Francisco
"Chronicle," the first objection of the Auditor, to the effect
that the law does not authorize bonds payable from taxes
to be levied on property, including the city property, for
work to be done outside of the municipality, was disposed
of by the Court by quoting a section of the Political Code
which plainly showed the bonds to be valid from that point
of view. The only other objection made was that the tax
levied for the purpose of paying the interest on the bonds
would not be available at the time the first installment of
the interest became due, the interest being payable semiannually. The Court held that the law contemplated only
the necessity of a tax levy to provide for the payment of
the interest once a year. The payment of the first installment could be deferred. It was only important that the
tax be sufficient to pay the interest and make up the necessary sinking fund and that it be collected annually. This,
the Court maintained, had been provided for.
Tuscaloosa, Tuscaloosa County, Ala.—State Supreme Court
Declares Bonds Valid.—In a lengthy opinion handed down
by the State Supreme Court on May 12, Associate Justice
Thos. C. McClellan upheld the validity of the $125,000 5%
coupon water-works bonds offered last June. See V. 84,
p. 1446. In answer to the objection of the plaintiff that,
according to the last Federal decennial Census there were not
6,000 people in Tuscaloosa at the time of the bond election,
as required under the Constitution, Justice McClellan holds
that no court has the right to read into the Constitution
what is not reasonably implied. He holds that there is no
provision in the section of the Constitution limiting the
bonded indebtedness which makes the Federal Census the
only means of determining the population of the city or town.
The Court also points out that although the population of a
municipality might have been slightly under 6,000 at the
time of the last Census, yet within a year from that date it
might have increased to above the limit. If the contention
of the plaintiff held good, the city would have to wait nine
years before being able to avail of the provision in the constitution relating to municipalities having a population of
6,000.
Bond Calls and Redemptions.
Abington Township, Montgomery County, Pa.—Bonds
Drawn.—The following bonds were drawn for payment
May 1 at the Jenkintown National Bank of Jenkintown:
Class
Class
Class
Class
D, Nos. 16, 17 and 18. Denomination $1,000.
D, Nos. 56, 57, 58 and 59. Denomination $500.
D. Nos. 226, 227, 228, 229 and 230. Denomination $100.
G. Nos. 436, 437 438 and 439. Denomination 3500.
Austin Township, Cass County, Mo.—Bond Call.—This
township called for payment April 3, 5% refunding bonds
numbered from 24 to 30 inclusive. Denomination $1,000.
Date January 1 1893.
Calumet Township, Pike County, Mo.—Bond Call.—
Call was made for payment April 1 of 4% refunding bonds
numbered from 1 to 18 inclusive. Denomination $1,000.
Date April 1 1898.
Camp Branch Township, Cass County, Mo.—Bond Call.—
Refunding 5% bonds dated Nov. 19 1887 and numbered
from 15 to 22 inclusive were called for payment April 3.
Denomination $1,000.
Carthage, Jasper County, Mo.—Bond Call.—This city
called for redemption or. May 10 4% funding bonds Nos. 16
to 20 inelesive. Denomination $500. Date May 10 1900.
Cass County (P. 0. Harrisonville), Mo.—Bond Call.—
Interest ceased on April 3 on 4% refunding bonds numbered
from 30 to 63 inclusive and number 84 for $1,000 each.
Date Jan. 1 1893.
Clinton School District (P. 0. Clinton), Henry County,
Mo.—Bond Call.—This district called for payment May 1.
5% bonds numbered 13 and 14. Securities are in denomination of $500 and are dated May 1 1897.
Dade County (P. 0. Greenfield), Mo.—Bond Call.—In
addition to the $4,000 5% refunding bonds numbered from
347 to 350 inclusive, called for payment April 1 (V. 88, p.
870), call was also made for the redemption on the same day
of $8,000 5% refunding bonds numbered from 185 to 200
inclusive. Denomination $500. Date June 1 1894.
-Denver, Colo.—Bond Call.—W. J. Fine, City Treasurer,
called the following bonds for payment April 30:
STORM SEWER BONDS.
South Capitol Hill Storm Sewer Dist., Bond No. 26.
SANITARY SEWER BONDS.
Harman Special Sanitary Sewer Dist. No. 1, Bond No. 7.
Highlands Sanitary Sewer Dist. No. 6, Bond No. 8.
Highlands Special Sanitary Sewer Dist. No. 7, Bonds Nos. 23 to 25,
Inclusive.
Highlands Special Sanitary Sewer Dist. No. 8, Bonds Nos. 9 and 10.
South Capitol Hill Special Sanitary Sewer Dist., Bond No. 8.
South Side Sanitary Sewer Dist. No. 3, Bond No. 15.
SIDEWALK BONDS.
Central Sidewalk Dist., Bond No. 14.
East Capitol Hill Sidewalk Dist. No. 1, Bond No. 9.
Sidewalk Dist. No. 8, Bonds Nos. 22 to 24, Inclusive.
Sidewalk Dist. No. 9, Bond No. 18.
Sidewalk Dist. No. 10, Bonds Nos. 46 and 47.
Sidewalk Dist. No. 12, Bond No. 51.
South Broadway Sidewalk Dist. No. 1, Bonds Nos. 53 and 54.
South Broadway Dist. No. 2, Bond No. 16.
1356
IMPROVEMENT BONDS.
Capitol Hill Improvement Dist. No. 1, BondsjiNos.3137ito 148, inclusive
Capitol Hill Improvement Dist. No. 2, Bonds Nos. 87 to 89, inclusive. Capitol Hill Improvement Dist. No. 3, Donds Nos. 91 to 93, inclusive.
Capitol Hill Improvement Dist. No. 4, Bonds Nos. 83 to 91, inclusive.
East Capitol Hill Improvement Dist. No. 1, Bonds Nos. 51 to 53, in
elusive.
East Colfax Avenue Improvement Dist. No. 1, Bonds Nos. 34 to 39, In
elusive.
East Denver Improvement Dist. No. 1, Bonds Nos. 74 to 76, inclusive.
Eighteenth Avenue Improvement Dist. No. 1, Bonds Nos. 46 to 49, in
elusive.
Grant Avenue Improvement Dist. No. 1, Bond No. 46.
High and Race Streets Improvement Dist. No. 1, Bond No. 24.
Highlands Improvement Dist. No. 1 Bonds Nos. 28 and 29.
South Broadway Improvement Dist. No. 2, Bonds Nos. 30 to 34, in
elusive.
South Fourteenth Street Improvement Dist. No. 1, Bond No. 21.
Thirteenth Street Improvement Dist. No. 1, Bonds Nos. 10 and 11.
PAVING BONDS.
Alley Paving Dist. No. 2, Bond No. 21.
Alley Paving Dist. No. 4, Bond No. 18.
Broadway Paving Dist. No. 1, Bond No. 82.
Champa Street Paving Dist. No. 1, Bonds Nos. 70 and 71.
Eighth Avenue Paving Dist. No. 1, Bond No. 45.
Grant, Logan and Seventh Avenues Paving Dist. No. 1, Bond No. 28.
Welton Street Paving Dist. No. 1, Bond No. 26.
SURFACING BONDS.
Surfacing Dist. No. 1, Bond No, 27.
Surfacing Dist. No. 3. Bonds Nos. 32 to 35, inclusive.
VIADUCT BONDS.
Fourteenth Street Viaduct Dist., Bonds Nos. 769 to 771, inclusive.
PARK BONDS.
Highland Park District. Bonds Nos. 203 to 213, inclusive.
El Paso, El Paso County, Tex.-Bond Call.-Interest
ceased May 15 on funding bonds Nos. 5 to 20 inclus:Ne.
Everett Township, Cass County, Mo.-Bond Call.Refunding 5% bonds, dated March 1 1888 and numbered
1 to 6 inclusive, were called for payment April 3. Denomination $1,000.
Grand River Township Cass County, Mo.-Bond Call.On April 3 this township called for redemption 5% refunding
bonds Nos. 1 to 9 inclusive, Nos.12 to 19 inclusive and No.
23. Dendmination $1,000. Date Nov. 1 1887.
Henry County (P.O. Clinton), Mo.-Bond Call.---Refunding 4% honds, Nos. .11 to 53 inclusive, dated Oct. 1 1897,
were called for payment May 20. Denomination $1,000.
Lathrop, Clinton County, Mo.-Bond Call.--Call has been
made for payment on June 1 of 5% bonds, Nos. 1$ and 12.
Denomination $500. Date Jan. 1 1901.
Macon, Macon County, Mo.-Bond Call.-On May 1 4%
sewer bonds numbered 14, 15, 16 and 17 were called for
redemption. Denomination $500. Date May 1 1899.
Pittsburgh, Pa.-Luckey School Sub-District.-Bond Call.
-Payment will be made on July 1 at the West End Savings
Bank & Trust Co. of Pittsburgh of bonds dated July 1 1891
and numbered 4, 5 and 6. Denomination 8500.
Plattsburg School District (P. 0. Plattsburg), Clinton
County, Mo.-Bond Call.-Interest ceased May 16 on
$1,000 4% bonds Nos. 16. and 17 and dated May 15
1899. Denomination $500.
Pleasant Hill Township, Cass County, Mo.-Bond Call.On April 3, 5% refunding bonds Nos. 46, 47, 48, 51, 52 and
53 were called for redemption. Denomination $1,000.
Date Jan. 1 1893.
Polk Township, Cass County, Mo.-Bond Call.-This
township called for payment April 3, $5,000 5% refunding
bonds dated Jan. 1 1893 and numbered 27, 28, 29, 30 and 35.
Denomination $1,000.
Shawneetown, Gallatin County, Ill.-Bond Call.-Payment will be made July 1 at the American Exchange National
Bank in New York City of bond No. 17 for $1,000, dated
July 11898.
Springfield School District (P. 0. Springfield), Greene
County, Mo.-Bond Call.-The 432% funding bonds dated
May 1 1896 and numbered from 24 to 35 inclusive, were
called for payment May 1. Denomination $1,000.
Tyler, Smith County, Tex.-Bond Call.-This city has
called for payment 6% public-free-school-building bonds
numbered 35, 36, 37, 38, 39, 40, 41, 43 and 44, issued in
1889. Denomination $500.
Upshur County (P. 0. Buckhannon), W. Va.-Bond Call.
-Call was made for payment May 9 at the People's Bank of
West Virginia in Buckhannon of bonds Nos. 27 to 34 inclusive.
Worth County (P. 0. Grant City), Mo.-Bond Call.On June 1 5% court-house bonds Nos. 36 and 42,and dated
Dec. 1 1897, will be redeemed.
Bond Proposals and Negotiations this week
have bean as follows:
Abington School District (P. 0. Jenkintown), Montgomery County, Pa.-Bond Offering.-Proposals will be received
until 2 p. m. June 1 by Edwin S. Hallowell for $70,000 4%
gold coupon bonds. Denomination $1,000. Date July 1
1908. Interest semi-annually at the Jenkintown National
Bank. Maturity $25,000 payable "any time after July 1
1918". $15,000 payable "any time after July 11923," $15,000
payable "any time after July 1 1928" and $15,000 payable
"any time after July 1 1933."
Acquackanonk Township School District (P. 0. Clifton),
Passaic County, N. J.-Bond Sale Postponed.-The sale of
the $63,500 432% coupon building and addition bonds,
which was to have taken place May 26 (V. 86, p. 1237), was
postponed until June 2.
[VOL. Lxxxvx.
THE CHRONICLE
Akron, Summit County, Ohio.-Bond Sale.-The highest
bid received on May 28 for the $47,746 5% bonds described
k
in V. 86, p. 1237, was submitted, it is stated, by the Second,
National Bank of Akron. Maturity on April 1 as follow:'
$11,106 in 1909; $11,706 in 1910; $10,556 in 1911; $7,956
in 1912; $4,506 in 1913, and $2,916 in 1914.
Alcorn County (P. 0. Corinth), Miss.-Bond Offering
Further details are at hand relative to the offering on June 2'
of the $10,000 5% coupon bonds issued to gravel the public
roads of this county, mentioned in V. 86, p. 1237. 0. M.
Hinton, Chancery Clerk, will offer these bonds at public
auction at 2 p. m. on that day. Authority Section 333,
Chapter 17, Code of 1906. Denominations: $100, $500 and
$1,000. Date, day of issuance. Interest annually at the
County Treasurer's office. Maturity twenty years, subject
to call after five years. Bonded debt at present $23,000'.
Assessed valuation for 1907 $2 820 000.
Alliance, Ohio.-Bond Sale.-.A list of the bids received
on May 25 for the four issues of 5% bonds aggregating $45,100
described in V. 86, p. 1237, follows:
$22-,000
trnedes
t..
B
So
Secur. S. B. & Tr. Co., Tol_$22,301 00
Hoehler F0 Cummings, Tol__ 22,287 50
Hayden, Miller & Co., Clev. 22,279 00
Otis & Hough, Cleveland__ 22,275 00
Well, Roth & Co., Cm n
22,180 50
New First Nat. Bk., Colum_ 22,125 00
First Nat. Bank, Cleve
22,119 00
Western-German Bk., Cin_
Alliance Bank Co., Alliance. 22,257 40
W. R. Todd & Co., Cin ___ 22,005 00
Seasongood & Mayer. Cin_
City S..& Tr.Co.,Alliance_
$14,000
Street
Bonds.
$15,052 00
15,031 00
15,055 00
15,128 00
14,935 00
14,392 00
15,160 00
14,757 40
15,148 00
15,102 00
14,758 00
$5,100
Sewer
Bonds.
lior a:. ,,
'
$5,112 50
5,127 00
5,126 00
‘.).(_.
t)
$4,j:_
4,302 50
4,302 .00
5,107 00
par
46
433115 0
00
0
4,167 00
513672
5,103 00
$4.000
4,16-212
4,407 2 '
4,406 40
4,26g 00
Ames, Story County,Iowa.-Bonds Voted.-This city, it is
stated, has authorized the issuanoe of bonds to the amount'
of $15,000 for the purpose of installing water-works.
Arthur, Ontario.-Debentures Awarded in Part.-We are,'
advised that $2,000 of the three issues of debentures aggregating $13,700, described in V.86, p. 992, have been awarded
to Wray R. Smith.
Ballinger, Runnells County, Tex.-Bond Offering.--Proposals will he received until 2 p. m. June S by the Citizens'
National Bank of Ballinger, acting as fiscal agent for this
city, for the $20,000 5% 20-40-year (optional) street-iniprovement bonds voted • on March 17 and registered on
May 9 by the State Comt•troller. See V. 86, p.- 1237.
Belmont, Mass.-Bo' nd Sale.-On May 27 an issue of
$10,000 4% 30-year tax-free coupon sewer bonds dated
June 1 1908 was awarded to F. S. Moseley & Co. of Boston
at 109.037-a basis of about 3.511%. Denomination $1,000,
Interest semi-annually at the Fanueil Hall National Bank in
Boston.
The following bids were received:
F. S. Mosely & Co., Boston109.037'Parkinson & Burr, Boston__107.07
Blodget,Merritt Fc Co., ost_108.59 I Blake Bros. & Co., Boston__107.05
Dennison Fc FarnSwotth.
IE. H. Rollins & Co., Boston_106.556
Cleveland and Boston_ ___103.317 IR. L. Day & Co., Boston106.53
6.2
52
78
Adams & Co., Boston
108.311 'Perry, Coffin Fc Burr, Boston.1106
Estabrook & Co., Boston_
108.29 N. W. Harris & Company,
Crocker & Fisher, BOSt021-108.02 I Boston
Merrill,Oldham & Co., Bost_107.175 A. B. Leach & Company,
104.08
Boston
Wh
Blo
eshteorn,Young & Conant
107.08
I
fering
Bessemer, Geogbic County, Mlch.-Bond
Proposals will be received until 6 p. in. June 1 by Wm. L.
Guyer, City Clerk, for $25,000 5% water-works bonds.
Authority sections 3247, 3248, 3249 and 3250, Compiled
Laws of Michigan. Denomination $500. Interest semiannual. Maturity $2,500 yearly on June 1 from 1911 to
1920 inclusive, but subject to call, however, before that
time. Certified check for 5% of bonds bid for is required.
These bonds were offered but not sold on May 4.
Big Spring Township, Seneca County, Ohio.-Bond Sale.On May 25 the $12,000 43'% coupon road-improvement
bonds described in V. 86, p. 1296, were awarded, it is stated,
to the Tiffin National Bank of Tiffin for $12,210 50, the price
thus being 101.754. Maturity $1,000 each six months from
Sept. 1 1914 to March 1 1920 inclusive.
Billings School District No. 2 (P. 0. Billings), Yellowstone County, Mont.-Bond Sale.-An issue of $30,000
coupon bonds was disposed of on May 23 to the State Board
of Land Commissioners at par for 4 3-5s. Purchaser to
furnish blank bonds. Following are the bids:
State Board of Land Commissioners, Helena (for 4 3-5s)
Harris Trust & Savings Bank, Chicago (for 4 As)
A. B. Leach & Co., Chicago (for 5s)
Mason, Lewis & Co., Chicago (for 5s)
MacDonald, McCoy & Co., Chica(ro (for 5s)
Farson, Son & Co., Chicago (tor 6s)
par
40
31, 44
33,243
Bids were also received from C. H. Coffin and S. A. Ket;1.
15
3n 1,
both of Chicago, but as these were not accompanied by the
required certified checks, they were not considered.
Birmingham, Jefferson County, Ala.-Bonds Not Sold.We are advised that all bids received on May 25 for the purchase of the $100,000 5% sanitary sewer bonds mentioned
in V. 86, p. 1238, were rejected. Our informant adds that
these bonds may possibly be disposed of at private sale.
Boston, Mass.-Bond Offering.-Proposals will be received
until 12 in. June 4 by Charles H. Slattery, City Treasurer,
for the following bonds:
$364,000 4%
,
300,000 4%
2,000,000 4%
registered bonds for various municipal Improvements. See
V. 86, p. 1296. Maturity June 1 1928.
registered sewer bonds. Maturity June I 1338.
registered Boston tunnel and subway bonds. Matrity
June 1 1948.
MAY 30 1908.]
THE CHRONICLE
100,000 4% registered Northern Avenue and Sleeper Street bonds. Ma
turity June 1 1936.
655,000 4% registered bonds for separate systems of drainage, mentioned
In V. 86, p. 1296. Maturity June 11938.
1,000,000 4% registered bonds for land and buildings for schools. Maturity
June 1 1928.
Denomination $1,000 or any multiple thereof. Interest
June 1 and Dec. 1 at the City Treasurer's office by check, if
so desired. Bonds are exempt from taxation. Certified
check on a Boston national bank, payable to the "City of
Boston, Chas. H. Slattery, Treasurer," or a cash deposit
equal to 1% of amount of bonds bid for, is required. Interest
will begin June 10, the date of delivery.
Burlington, Kit Carson County, 0o1.-Bond Offering.Proposals will be received until 12 m. June 8 by E. C. Baker,
T6wn Clerk, for $12,000 6% gold coupon water-worksconstruction bonds. Denomination $500. Date June 1
1908. Interest semi-annually at Kountze Bros., Bankers,
New York City. Maturity June 1 1923, subject to call after
June 1 1918. Bonds are exempt from taxation. Certified
check for $120, payable to E. C. Baker, is required. Bonded
debt, this issue. Assessed valuation 1147 000.
Butler School District (P. 0. Butler), Butler County, Pa.
-Bonds Not Sold -Up to May 15 no sale had been made
of the $40,000 4% coupon or reg stered tax-exempt highschool (Series "A") bonds which Harry L. Graham, Secretary Board of Education, is offering at par and accrued
interest from March 2 1908. See V. 86, p. 933.
Caldwell, Burleson County, Tex.-Bond Sale.-This city
on May 1 sold $8,500 5% 10-30-year (optional) water refunding bonds to Burleson County. Denomination $500. Date
June 11908. Interest annually on March 1.
Calgary, Alberta.-Przee Paid for Debentures.--We are
informed that the price paid by Wood, Gundy & Co. of Toronto for the $76,000 43i% 20-year water-works debentures
recently awarded them (V. 86, p. 619) was $68,400 or 90.
Denomination $1,000. Date June 1 1908. Interest semiannual.
Debenture Sale.-On May 18 the three issues of 432%
30-year debentures,aggregating $435,000, described in V. 86,
p. 1238, were purchased by G. A. Stimson &Co. of Toronto
for a client in London, Eng., at 92.55 and accrued interest.
A list of the bidders follows:
02.551Dominion Securities Co., Tor_ _90.11
G. A. Stimsen, Toronto
Wood, Gu tcly & Co., T.,ranto _91.551Aemillus. Jarvis & Co.. Tor_ ....89.8J
California.-Bond Offering.-San Francisco papers report
that proposals will be received until July 2 by Wm. R.
Williams, State Treasurer, for $250,000 4% sea-wall bonds.
These securities are part of the issue of $2,000,000 4% seawall bonds voted on Nov. 8 1904 (V. 79, p. 747), $250,000
of which were disposed of, as already reported by us, on
March 8 1906.
Cambridge, Guernsey County, Ohio.-Bond Sale.-On
May 18 the 83VC11 issues of 432% street assessment bonds,
aggregating $47,923.10, described in V. 86, p. 1238, were
awarded to Weil, Roth & Co. of Cincinnati for $48,163.10
(100.50) and interest. A bid of $48,010.10 was also received from the First National Bank of Cleveland. Maturity one-tenth of each issue yearly on March 1 from 1909 to
1918 inclusive.
Cambridge School District (P. 0. Cambridge), Ohio.coupon high-school
Bond Sale.-On May 21 the $65,000 4
bonds described in V. 86, p. 1238, were awarded to Breed &
Harrison of Cincinnati at 103.247 and accrued interest. The
bids were as follows:'
Breed & Harrison, Cinc-$67,101 001Farson, Son & Co., Chic....$66,597 00
Seasongood & Mayer, One 67,067 001Hoehler & Cummings, Tot 66,577 50
Well, Roth & Co., Cincin_ 67,015 001Western-German Bk., Cin 66,465 50
W. R. Todd & Co., Cincin 67,013 00 A. Kleybolte & Co., Cinc_ 66,462 50
Otis & Hough, Cleveland_ 66,860 00 First Nat. Bank, Clevel'd_ 66,139 75
Security Savings Bank &Denison & FarnSworth,
66,802 00
Trust Co., Toledo
Cleveland and Boston_ 66,071 00
Hayden, Miller & Co., Clev 66,692 001
Maturity $1,000 each six months from March 5 1909 to
March 5 1922 inclusive, $2,000 on Sept. 5 1922 and $1,000
on March 5 and $2,000 on Sept. 5 each year from 1923 to
1934 inclusive.
.Camden County (P. 0. Camden), N. J.-Bids Rejected.The following bids, all of which were rejected, were receive('
on May 27 for the purchase of $8,000 Haddonfield and Camden and $41,000 Marlton 432% coupon (with privilege of
registration) turnpike bonds:
n. M. Grant & Co., N. Y___104.87 W. N. Coler & Co., N. Y- --103.59
N.' W. Halsey & Co., N. Y__103.817 H. L. Crawford & Co., N. Y_103.125
N. W. Harris & Co., N. Y__103.6911
Denomination $500. Date May 1 1908. Interest.semiannually at the United States Mortgage & Trust Co. in New
York City. Maturity 'May 11928.
Campbell County (P. 0. Jacksboro), Tenn.-Bond Sale,We are advised that the $50,000 5% 10-30-year (optional)
coupon road bonds described in V. 86, p. 872, were awarded
on May.2 to W. H. Gass of Knoxville at 100.67 and accrued
interest. Interest semi-annually at the County Treasurer's
office.
Cape May City, Cape May County, N. J.-Bond Sale.-The
Fidelity Trust Co. of Newark purchased on May 26 the
$105,000 5% 30-year coupon bonds at 103 and the $45,000
5% 2-year bonds at par. The bonds are described in V. 86,
p. 1296. This was the only bid received.
Cincinnati, Ohio.-Bond Offering.-Proposals will be
received until 12 m. June 25 by the Sinking Fund Trustees,
Charles T. GreveaSecretary, for $600,000 4% coupon
1357
refunding Southern Ry. bonds. Authority, Section 113,
Municipal Code. -Denomination $1,000. Date July 11908.
Interest semi-annually at the American Exchange National
Bank in New York City. Maturity July 1 1958. subject•to
call after July 1 1938. Bid must be made on a printed form
furnished by the Sinking Fund Trustees and accompanied
by an unconditional certified check for 2% of bonds bid for,
drawn on an incorporated bank or trust company in Cincinnati and made payable to the said trustees. Delivery of
bonds July 6 1908.
Clark County School District No. 7, Wash.-Bond Sale.The Citizens' National Bank of Vancouver, offering 100.50 for
6s, was the successful bidder on May 23 for $3,800 6%
school-building bonds offered on that day. An offer of par
for 6s was also received from Wm. D. Perkins & Co. of
Seattle. Denomination $200. Interest annual. Maturity
1918, subject to call after three years.
Cliffs School District (P. 0. Cliffs), Klickitat County,
Wash.-Bond Sale.-On April 4 an issue of $3,000 5% 1-10year (optional) school-house bonds was disposed of to the
State Board of Finance at par. Denomination $1,000.
Date June 11908.
Coachella School District, Los Angeles County, Cal.Bond Sale.-The First National Bank of Riverside is reported
as having purchased $6,500 school-building bonds on May 21
at 106.55 and accrued interest.
Collins School District, Santa Clara County, Cal.-Bond
Oftering.-Proposals will be received until 11 a. m. June 2
by Henry A. Pfister, Clerk Board of County Supervisors
(P. 0. San Jose), for$3,000 6% gold coupon school-building
bonds. Denomination $500. Date June 1 1908. Interest
semi-annually at the County Treasurer's office. Maturity
$500 yearly on June 1 from 1909 to 1914 inclusive. Bid
must be unconditional and accompanied by a certified check
for 10% of bonds bid for, made payable to the Clerk of the
Board of County Supervisors. Bonds to be delivered
within ten days from time of award.
dollinwood School District (P. 0. Collinwood), Cuyahoga
County, Ohio.-Bids.-We are informed that the $90,000
43/2% coupon school-building bonds awarded on May 21 to
the First National Bank of Cleveland at 103.55 and accrued
interest (V. 86, p. 1296), attracted the following list of bidders:
First Nat. Bank, Cleve_ _ _593,195 00 Well, Roth & Co., Cinc_ _$91,985 00
Otis & Hough, Cleveland_ 93,177 001Security Savings Bank -&
Cleveland Trust Co., Clev_ 93,010 501 Trust Co., Toledo
91,810 00
Hayden, Miller & Co., Clev 92,333 OolNew First National Bank,
Denison & Farnsworth,
Columbus
00,935 00
Cleveland and Boston.. 92,080 001
1
Oreedmore School District (P.0. Creedmore), N. C.-Bond
0/fcring.-R. H. Rogers, Secretary and Treasurer, is offering at private sale $6,000 5% coupon building bonds. Securities are dated June 1908. Interest payable in Creed-.
more. Maturity from one to ten years. Certified check for
$100, payable to the Secretary of the District, is required.
Cuyahoga County (P. 0. Cleveland), Ohio.-Bond Sale.On May 27 the $300,000 43/2% coupon court-house' bonds
described in V. 86, p. 1239, were awarded to Otis & Hough
of Cleveland at 103.67. Maturity $15,000 yearly on Oct. 1
from 1909 to 1912 inclusive and $16,000 yearly on Oct. 1
from 1913 to 1927 inclusive.
Davidson, Sask.-Debenture 0ffering.-Proposals will be
received until 5 p. m. June 6 by Arthur Jas. Roberston,
Town Clerk, for $5,000 6% coupon fire-protection debentures
dated Dec. 19 1907. Inteiest annually on Dec. 1 at the
Town Clerk's office. Maturity part yearly for tWC nty years.
Total assessed valuation for 1907, $462,821 50. Total debt
at present, $1,320.
Dayton, Ohio.-Bond
fering.-Proposals will be received until 12 m. June 8 by Edward Philipps, City Auditor,
for the following bonds:
$170,000 4% coupon bonds to construct a brIthre across the Great Miami
River. Denomination S1,000. Date May 1 1908. Maturity $5,000 on May 1 in each of the years 1917, 1918, 1913
and 1920 and $10,000 yearly on May 1 from 1921 to 1959
inclusive. Certified check for $4,500 required.
89,500 4% coupon storm-water-sewer-construction bonds. Denomir a
ation $1,000, except one bond of $1,500. Date Jure 11908
Mattnity on June 1 as follows: $19,500 In 1923; $20,000 in
each of the years 1924 and 1925 and *30.000 In 1926. Certl:
fled check for $4,175 required.
11,000 5% coupon sewer District No. 4 bonds. Denomination $1,000.
Date June 1 1908. Maturity $1,000 yearly on June 1 from
1909 to 1917 inclusive and $2,000 on June 11918. Certified
check fat $550 required.
Interest semi-annually in New York City. Certified
checks in the above amounts must be unconditional, drawn
on a national bank and made payable to the City Auditor.
Delivery of bonds June 81908. Bid must be made on each
issue separately.
Dennison, Tuscarawas County, Ohio.-Bond Sale.-On
May 27 the $24,000 5% refunding park bonds described in
V. 86, p. 1297, were awarded to Seasongood & Mayer for
$25,460, the price thus being 106.083. Maturity $500 every
six months from May 18 1909 to Nov. 18 1932 inclusive.
Following are the bids:
•
Seasongood & Mayer, an.$25,460,00'First Nat. Bk. Columbus.$25,335 00
Well, Roth de Co., C1nc1n_25,451,50 !Otis & Hough,
' Cleveland_25,325100
Sec.Sav.Bk.& T Co.. Ctn. _25,387 50 I Pirst Nat. ilk.. Cleveland 24.81300
De Smet School District (P. 0. De &net), Kingsbury
County, S. D.-Bonds Voted.-The issuance of $7,000 schoolbuilding bonds at not exceeding 6% interest was authorized
at an election held April 21. The vote was 191 "for" to
54 "against." Maturity $1,000 yearly on Aug. 1 from 1909
to 1915 inclusive.
THE CHRONICLE
1358
Dickson, Dickson County, Tenn.-Bond, Sale.-We are
informed that the $25,000 6% 30-year water-works bonds,
proposals for which were asked at any time (V. 86, p. 993),
were purchased by F. M. Stafford on May 1 at par. Denomination $1,000. Date May 1 1908. Interest semi-annual.
Dougherty County (P. 0. Albany), Ga.-Bond Election.
-A proposition to issue $30,000 5% gold public-road-improvement bonds will be submitted to a vote of the people
on June 4. Denomination $1,000. Date day of issuance.
Interest semi-annual. Maturity $1,000 yearly from two
years to eleven years inclusive and $2,000 yearly from
twelve years until twenty-one years inclusive.
East Brunswick Township School District (P. 0. Old
Bridge), N. J.-Bond Offering.-Proposals will be received
until 2 p. m. June 1 by I. C. Crandall, District Clerk, for
$10,000 5% coupon bonds. Denomination $500. Interest
semi-annually at the First National Bank in South River.
Maturity $500 yearly on July 1 from 1916 to 1935 inclusive.
Certified check for 5% of bid, payable to the Board of Education, is required.
Elmwood Place School District (P. 0. Station P, Cincinnati), Hamilton County, Ohio.-Bond Sale.-On May 20 the
$3,000 5-19-year (serial) heating-system-installation and the
$2,000 5-14-year (serial) school-improvement 432% coupon
bonds, described in V. 86, p. 1240, were awarded to the
Central Trust & Safe Deposit Co. of Cincinnati at 104.753
(a basis of about 3.998%) and 103.525 (a basis of about
4.05%) respectively. Following are;the bids:
I
8
Central Trust & Safe Deposit Co.,C1nOinnati
W. R. Todd & Co. Cincinnati
Cincinnati
Well, Roth & Co.,'
Seasongood & Maya% Cincinnati
$3,000
$2,000
Heating
School
Bonds.
Bonds.
$3,142 60
$2,070 50
3,081 90
2,035 00
3,031 00
2,006 00
--$5,153 00---
El Paso, Tex.-Vote.-The following vote was cast at
the election held April 25, which resulted in favor of the
issuance of $500,000 bonds, as reported in V. 86, p. 1113:
Vote of 887 to 134 on proposition to issue 4100,000
(optional) school bonds.
Vote of 874 to 147 on proposition to issue $50,000 5%
tional) sewer bonds.
Vote of 787 to 252 on proposition to issue $200,000
(optional) paving bonds.
Vote of 782 to 222 on proposition to issue $100,000
(optional),
rading bonds.
Vote or 841 to 142 on proposition to issue $50,000 5%
tional) 1 arbage bonds.
5% 20-40-year
20-40-year (op5% 10-40-year
5% 20-40-year
20-40-year (op-
We are further advised t t "it will probably be sixty
days before these bonds are r dy for sale.
Essex County (P. 0. Salem), Mass.-Temporary Loan.On May 25 the $150,000 temporary-loan notes described in
V. 86, p. 1297, were awarded to the City National Bank of
Gloucester at 3.384 discount. Maturity of loan Dec. 15 1908.
Everett, Mass.-Bond Sale.-On May 28 this city sold
$25,000 4% 1-25-year (serial) coupon refunding bonds.
Estabrook & Co. of Boston are reported as being the successful bidders, their offer being 104.21-a basis of about 3.592%
Authority Chapter 105 of the Acts of the Legislature of
1905. Denomination $1,000. Date May 1 1908. Interest
semi-annually at the Winthrop National Bank of Boston.
Bonds are tax-exempt.
Fairfax School District No. 44 (P. 0. Fairfax), Barnwell
County, S. 0.-Bond Ofiering.-Proposals will be received
until 12 m. June 1 by H. G. Googe, Secretary, for $5,000
6% 20-year bonds. Bonds are exempt from taxation.
Fairfield, Bolan° County, Cal.-Bond Sale.-On May 20,
we are advised, an issue of $20,000 5% 1-40-year (serial)
sewer bonds, dated Oct. 1 1907, was awarded to the State
Board of Examiners at par and accrued interest. Denomination $500. Interest semi-annual.
Fall River, Mass.-Bond Sale.-This city on May 27 sold
$70,000 4% 20-year school-house bonds, dated June 1 1908
to Tucker, Hayes\ & Co. of Boston at 106.666-a basis of
about 3.533%. The following bids were also received: •
E. H. Rollins & Sons, tios_ _ _106.656
F. S. Moseley & Co., Boston_106.587
Biodget, Merritt & Co., Bos_106.59
Blake Bros. & Co., Boston_ _106.51
Kountze Bros., New York_ _ _106.41
Estabrook & Co., Boston_ _ _ _106.31
Merrill, Oldham ec Co., Bos_ _105.837
Denison&Farnsworth,CL&B_105,817
R. L. Day ec Co., Boston____105.78
Adams & Co., Boston_ _ _
105 511
Crocker & Fisher, Boston___105.433
H. NV. Poor & Co., Boston__ _105.177
Perry, Coffin & Burr, Bos__ _105.07
N. W. Harris ec Co., Boston_103.879
Fountain, Fillmore County Minn.-Bond Sale.-We are
informed that on May 12 an issue of $2,000 6% funding bonds
was awarded to thp National Bank of Preston at 102.50. Denomination $250. Date May 1 1908. Interest semi-annual.
Maturity May 1 1918.
Fountain Inn Graded School District No. 3b (P. 0. Fountain Inn), Greenville County, S. 0.-Bond Sale.-On May 25
the $15,000 6% coupon graded school bonds mentioned in
V. 86, p. 1240, were awarded to•Chas. H. Coffin of Chicago
for $15,451, the price thus being 103.006. Denominations:
$500 and $1,000. Interest annually in August at the Fountain Inn Bank of Fountain Inn or at the Park National Bank
in New York City. Maturity twenty years. Bonds are
exempt from all taxes. This district has no _debt at present.
Assessed valuation for 1997 $242 000.
Franklin, Simpson County, Ky.-Bonds Voted.-The
issuance of $18,000 graded-public-school-building bonds was
authorized, it is stated, by a vote of 264 to 60 at an election
held May 12.
Fremont, Sandusky County, Ohio.-Bond Sale.-The
highest bid received on May 26 for the $24,500 41A% coupon
refunding bonds described in eV. 186 p. 1297, was
[VOL. Lxxxvi
one of $25,320 50 or 103.348, submitted by the First National Bank of Fremont. Maturity $2,500 on April 1 1917
$2,000 on Oct. 1 1917 and $2,500 each six months from
April 1 1918 to Oct. 1 1921 inclusive. This bid has been
accepted.
Genoa, Nance County, Neb.-Bonds Not Sold-Bond Offering.-No satisfactory bids were received on May 18 for
the $8,000 5% 5-20-year (optional) electric-light-plant bonds
described in V. 86, p. 1240. These securities are again being
offered, proposals to be received this time until June 10.
Glen Ridge School District (P. 0. Glen Ridge), Essex
County, N. J.-Bond Sale.-On May 26 the $30,000 4%
coupon school bonds described in V. 86, p. 1297, were
awarded to N. W. Halsey & Co. of New York City at 103.189
and accrued interest. The bids were:
N. W. Halsey & Co., N. Y_103.189 1B. M. Grant & Co., N. Y____101.06
Kountz0 Bros., N. Y
103.11 IBiodget, Merritt & Co., N. Y_1J1.03
H. L. Crawford & Co., N. Y_101.938 IA. B. Leach & Co., N. Y.._ _100.577
Maturity $3,000 yearly on Sept. 1 from 1929 to 1938 inclusive.
Gloucester, Mass.-Bond Sale.-On May 28 $70,000 4%
1-10-year (serial) deficiency and improvement bonds were
sold to the City National Bank of Gloucester at 101.36.
Interest semi-annual.
Glouster School District (P. 0. Glouster), Athens County,
Ohio.-Bond Sale.-On May 16 $3,500 5% bonds were
awarded to J. L. Howard of Millfield for $3,725-the price
thus being 106.428. Authority Sections 3991 and 3992,
Revised Statutes. Denomination $500. Date, day of sale.
Interest semi-annual. Maturity part yearly from 1921 to
1927 inclusive.
Graham County School District No. 2, Ariz.-Bond
Ofiering.-Proposals will be received until 10 a. m. June 1
by George A. Olney, Chairman Board of County Supervisors
(P. 0. Solomonsville), for $5,400 7% gold coupon school
bonds. Authority Section 2182 et seq., Revised Statutes of
1901. Denomination $200. Date June 1 1908. Interest
annually at the County Treasurer's office in Solomonsville.
Maturity June 11929, subject to call after ten years. Bonds
are free from all taxes. Certified check for $100, payable
to the Chairman of the Board of County Supervisors, is
required. Total debt, this issue.
Grand Island School District, Colusa County, Cal.-Bond
Offering.-Proposals will be received until 3 p. in. June 1
by W. J. King, Clerk Board of County Supervisors (P. 0.
Colusa), for $6,000 6% 1-12-year (serial) coupon bonds.
Denomination $500. Interest annually on July 1 at the
County Treasurer's office. Certified check or a cash deposit
for 10% of the amount bid, payable to the Clerk Board of
County Supervisors, is required.
Grand Rapids, Mich.-Bond Offering.-Proposals will be
received until 4 p. m. June 1 by John L. Boer, City Clerk,
for $150,000 street-improvement and $40,000 sewer-construction 4
coupon bonds and accrued interest. Denomination $1,000. Date May 1 1908. Interest senii-annually at
the City Treasurer's office. The $150,000 street bonds
mature $30,000 yearly on May 1 from 1909 to 1913 inclusive,
while the $40,000 sewer bonds mature $8,000 yearly on May 1
from 1909 to 1913 inclusive. An unconditional certified
check for 3% of bonds bid for, made payable to the City
Treasurer, is required.
Greenwood, Greenwood County, S. 0.-Bond Offering.Proposals will be received until 8:30 p. In. June 5 by W.G.
Calhoun, Town Clerk and Treasurer, for $50,000 5% coupon
street-improvement bonds. Interest semi-annual. Maturity thirty years. Certified check for $1,000 is required.
Gueydan School District (P. 0. Gueydan), Vermilion
Parish, La.-Bonds Voted and Sold.-By a vote of 69 to 9
this district on May 19 authorized the issuance of $25,000
Central High School building bonds. These securities, we
are advised, have already been sold.
Hamilton, Ohio.-Bonds Awarded in Part.-Reports state
that of the three issues of bonds offered on May 25, the $2,222 07 432% Ross Avenue sewer bonds due April 19 1917
and the $2,046 25 432% North B Street sewer bonds due
March 19 1917 were sold at par to the Sinking Fund Trustees.
See V.86, p. 1241,for description of these secUrfties.
Hamilton, Ont.-Debenture 0/tering.-Proposals will be
received until 5 p. m. June 4 by S. II. Kent, City Clerk, for
$100,000 4% 20-year debentures. Interest semi-annual.
Hartley, O'Brien County,Iowa.-Bond Sale.-The $12,000
5% 10-20-year (optional) coupon electric-light and power
bonds,.proposals for which were asked until May 4, have
been awarded to the First National Bank of Hartley for
$12,050-the price thus being 100.416. See V. 86, p. 1114,
for a description of these securities.
Haverhill, Essex County, Mass.-Bond Offering.-Proposals will be received until 10 a. 111. June 1 by Arthur T. J cobsCity Treasurer, for $122,000 4% coupon bridge bonds. De,
nomination $1,000. Date June 1 1908. Interest semiannually at the First National Bank in Boston. Maturity
June 1 1928. Bonds are exempt from taxation and have
been certified to as to genuineness by the City Trust Co. of
Boston. Their legality has been approved by Messrs.
Story, Thorndike, Palmer & Thayer of Boston, a copy of
whose opinion will accompany the bonds when delivered.
Temporary Loan.-This city has borrowed, according to
daily papers $25,000 for six months, from Edgerly &
at 3.35% discount.
Crocker. of Boston
MAY 30 1908.1
THE CHRONICLE
Hawkins County (P. 0. Rogersville), Tenn.-Bonds Not
Sold.-No sale was made on May 22 of the $40,000 4% roadimprovement bonds mentioned in V. 86, P. 1241. Denominations $100 to $1,000. Date May 22 1908. Interest semiannually at the Trustee's office. Maturity on May 22 as
follows: $10,000 in 1913 and $3,000 yearly from 1914 to
1923 inclusive.
Hazleton, Luzerne County, Pa.-Bonds Not Sold.-It is
reported that no bids were received for an issue of $60,000
paving bonds recently offered for sale. It is further stated
that it is expected that these bonds will be disposed of
locally.
Hood River Irrigation District (P.0. Hood River), Wasco
County, Ore.-Bond Offering.-Proposals will be received
until 10 a. m. to-day (May 30) by Percy A. Smith, District
Secretary, for $40,000 6% irrigation-system coupon bonds.
Authority election held Oct. 5 1907. Denomination $100
or multiples thereof. Date July 1 1908. Interest Jan. 1
and July 1 in Portland or New York City, at option of
purchaser. Bonds mature as follows:
At the expiration of 11 years __ 5% I At the expiration of 16 years__ 10%
At the expiration of 12 years__ . 6% At the expiration of 17 years.. _ - 11%
At the expiration of 13 years_ __ 7% At the expiration of 18 years... 13%
At the expiration of 14 years_
At the expiration of 19 years_ - - 15%
At the expiration of 15 years. __ 0% I At the expiration of 20 years_ __ 16%
_
I
Certified check for 10% of bid is required.
Humboldt Public School District No. 1529, Sask.-Debenture Offering.-Proposals will be received up to and including
May 31 (this date falls on Sunday but is so given in the
official advertisement) by F. K. Wilson, Secretary-Treasurer
(P. 0. Humboldt), for $5,000 6% school debentures. Interest annual. Maturity part yearly for ten years.
Hyde Park, Mass.-Temporary Loan.-This town has
awarded the $15,000 6-months' notes dated May 25 to
Bond & Goodwin of Boston at 3.57% discount.
Huntsville, Ala.-Bond Offering.-Proposals will be received until June 1 by R. E. Smith, Mayor, for $28,000 5%
10-year paving bonds. Interest semi-annual.
Jersey City, N. J.-Bond Offering.-Proposals will be
received until 3 p. m. June 5 by the Clerk of the Board of
Finance for $1,000,000 4% gold coupon refunding bonds.
Date July 1 1908. Interest semi-annual. Maturity June
30 1928. Bonds are exempt from taxation. Certified
check for 2% of bonds bid for, payable to the City Treasurer,
is required. Bonds to be delivered July 1 1908. Francis
Gormley is City Comptroller.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department
Kansas City, Mo.-Certificate Offering.-Proposals will
be received until 3 p. m. June 1 by the Board of Park Commissioners, Frank P. Gossard. Secretary, for the following
park fund certificates:
$26,659 45 Series "Q" certificates, payable part yearly from one to ten
years.
79,852 72 Series "R" certificates, payable part yearly from one to twenty
years.
Denomination $1,000. Interest semi-annually in Jan
uary and July. A deposit of $5,000 is required with each
bid.
RI Keyser, Mineral County, W. Va.-Bond Offering.-Proposals will be received until 7:30 p. m. June 3 by R. A.
Welsh, Mayor, for $15,000 5% coupon paving.bonds. Authority Chapter 47a, Code of West Virginia. Denomination
$500. Date July 1 1908. Interest is payable at the First
National Bank of Keyser. Maturity $2,000 yearly on
July 1 from 1918 to 1923 inclusive and $3,000 on July 1
1924. Bonds are exempt from municipal taxes. Certified check for 5%, payable to the "Town of Keyser," is
required. Total debt, not including this issue, $49,500.
Assessed valuation $3,658,000.
Kitsap County School District No. 49, Wash.-Bond Sale.
-On May 19 the State of Washington purchased $1,500
bonds at par for 5s. A bid at par less $10 for blank bonds
for 6s was also received from Win. D. Perkins & Co. of
Seattle. Denomination $250.
Lancaster County (P. 0. Lancaster), Pa.-Correctioft.Owing to a typographical error, the statement of the debt
and • finances of this county is given under the head of
Lancaster instead of Lancaster County in the semi-annual
number of our State and City Section which accompanies
to-day's issue of the "Chronicle."
Lawton School District(P.O.Lawton), Comanche County,
Okla.-Bond Sale.-We are advised that this district has
disposed of the $15,000 school-building bonds voted on
April 7.
Lee County (P. 0. Sanford), N. O.-Bond Offering.-Proposals will be received until 12 m. June 8 by T. M. Cross,
Clerk Board of County Commissioners, for $40,000 5% coupon court-house and jail construction bonds. The Board
of County Commiss:oners reserve the right to reduce the
amount of bonds to be issued to $35,000. Denominations
from $100 to $500. Date July 1 1908. Interest semiannual. Maturity July 11938. A deposit of 1% of bid is
required.
1359
Lewis County School District No. 121, Wash.-Bond Sale.
-An issue of $1,200 3-5-year (optional) building bonds
was awarded on May 2 to Frank Drabek of Chehalis at par
for 53,is. Denomination $100. Date May 2 1908. Interest annual.
Licking County (P. 0. Newark), Ohio.-Price Paid for
Bonds.-We are informed that the price paid by Seasongood & Mayer of Cincinanti for the $12,340 4%% coupon
ditch-improvement bonds and the $26,800 ,c7
0 coupon
pike-improvement bonds awarded to them on43
May 12 were
101.887 and accrued interest and 102.065 and accrued interest respectively. The bids were as follows:
Seasongood & Mayer, Cincinnati
First National Bank, Cleveland
Breed & Harrison, Cincinnati
Cleveland Trust Co., Cleveland
Otis & Hough, Cleveland
Weil, Roth & Co., Cincinnati
Franklin National Bank, Newark
Security Savings Bank & Trust Co., Toledo
Hayden, Miller & Co., Cleveland
$12,572 98
12,531 00
12,515 50
12,434 75
12,473 00
12,470 00
12,460 00
12,451 00
12,403 50
$26,800
Bonds.
$27,353 68
27,237 00
27,212 75
27,113 50
27,087 00
26.977 00
27,1)87 00
26,937 50
Lincoln County (P. 0. Ivanhoe), Minn -Bond Sale.On May 12 an issue of $30,150 1-10-year (serial) ditch bonds
was awarded to the Union Investment Co. of Minneapolis
at par for 534s. Date May 12 1908.
Lineville, Clay County, Ala.-Bonds Not Sold.-This town
advertised for proposals up to May 20 for the $8,000 5%
20-year school bonds mentioned in V. 85, p. 1659. We were
advised, under date of May 25, however, that no sale had
yet been made of these bonds.
Little Falls, Herkimer County, N. Y.-Bond Sale.Grannis & Lawrence of New York City inform us that on
May 23 they purchased $50,000 10-20-year (optional) water
bonds at 100.07 and accrued interest for 4.30s. The purchasers also agreed to furnish blank bonds.
Lockport, N. Y.-Bond Offering.-Proposals will be received until 12 m. June 1 by B. M. Hutchinson, City Treasurer, for $8,000 city-hospital bonds at not exceeding 5%
interest. Denomination $1,000. Date June 1 1908.
Interest semi-annual. Maturity $1,000 yearly on June 1
from 1909 to 1916 inclusive. Certified check for 5% of bid,
payable to the City of Lockport, is required.
Lockwood School District, Alameda County, Cal.-Bond
Sale.-This district on May 11 sold $30,000 5% 1-20-year
(serial) gold school-building bonds to the First National Bank
of Oakland for $30,851-the price thus being 102.836-a
basis of about 4.656%. Denomination $1,500. Date July 1
1908. Interest annual.
McMillan Township School District, Luce County, Mich.
-Bond Offering.-Proposals will he received until 2 p. m.
June 1 by Perry Leighton, Secretary Board of Education
(P. 0. Newberry), for $40,000 5% school-building bonds.
Interest annually at the Secretary's office in Newberry.
Maturity $5,000 yearly on April 1 from 1909 to 1916 inclusive. Bonds are coupon bonds of $500 each. Certified
check for 2% of bid, payable to the Secretary of the Board
of Education, is required.
Madera School District (P. 0. Madera), Madera County,
Cal.-Bond Sale.-The First National Bank of Madera has
purchased, it is stated, an issue of bonds for $7,798 20.
Mansfield, Ohio.-Bond Sale8.-The following bonds were
sold on May 25:
$28,000 4
% 1-20-year street-Improvement (city's portion) bonds awarded
to Well, Roth & Co. and the Western German Bank of Cincinnati at 103.305.
1,500 4 % 1-10-year park-improvement bonds awarded to the
Mansfield
Savings Bank and the Richland Savings Bank at par.
5,000 5% 1-5-year Newville Road assessment bonds
awarded to Well,
Roth & Co. of Cincinnati at
7,500 5% 1-5-year East Third Street 101.385.
assessment bonds awarded to
Well, Roth & Co. of Cincinnati at 101.39.
6,300 5% 1-5-year Blymer Ave. assessment
bonds awarded to Well,
Roth & Co. of Cincinnati at 101.375.
3,400 5% 1-5-year West First St. assessment bonds
awarded to the
Bank of Mansfield at 101.691.
4,300 5% 1-5-year North Franklin Ave.assessment bonds
awarded to
the Mansfield Savings Bank and the Richland Savings
Bank
at par.
2,300 5% 1-5-year Prescott St. assessment bonds awarded
to
the
Bank
of Mansfield at 101.76.
7,300 5% 1-5-year Chestnut St. assessment bonds awarded
to
Well,
Roth & Co. of Cincinnati at 101.386.
2,700 5% 1-5-year Olive St. assessment bonds awarded to the
Bank
of Mansfield at 100.759.
3,500 5% 1-3-year South Foster St. assessment bonds awarded to the
Bank of Mansfield at 100.50.
450 5% 1-3-year Church Court assessment bonds awarded
to the
Bank of Mansfield at 100.333.
250 5% 1-3-year Florence Ave. assessment bonds awarded
to the
Bank of Mansfield at 100.40.
13,300 5% 1-5-year North Bowman St. assessment bonds
awarded to
Well, Roth & Co. at 101.423.
3,700 5% 1-5-year sewer-construction assessment bonds
awarded to
the Bank of Mansfield at 100.978.
4,300 5% 1-3-year sewer-assessment bonds awarded to the
Bank of
Mansfield at 101.221.
The following were awarded to the Sinking Fund.
$2,000 5% 1-2-year West Second St. assessment bonds.
2,000 5% 1-3-year sewer-assessment bonds.
3,200 5% 1-3-year sewer-assessment bonds.
1,000 5% 1-year (third district) sewer bonds.
1,800 5% 1-year (five Issues) street repair bonds.
On the same day $3,200 5% 1-5-year Newville Road.assessment bonds were offered but not awarded.
The purchasers of the bonds are to pay accrued interest.
All of the issues are payable yearly on Sept. 1, beginning in
1909. Denominations $100 to $1,000. Interest March 1
and Sept. 1 at the City Treasurer's office. The bids received
for the various issues were as follows:
1360
THE CHRONICLE
[VoL. Lxxxvi.
year (serial) infirmary-building bonds. described in V. 86,
p. 1242, were awarded on May 28 to the Dayton Savings
& Trust Co. of Dayton, the Central Trust & Safe Deposit
Co. of Cincinnati and the Western-German Bank of Cincinnati, at their joint bid of $93,835 ,at 104 261-a basis
of about 3.999%.
Muskogee County (P. 0. Muskogee), Okla.-Bond Sale.
- We are informed that the $74,934 bonds mention of
which was made in V. 86, p. 996, were issued to the State
Land Commission.
Neels Independent School District (P. 0. Midland),
Beaver County, Pa.-Bond Sale.-An issue of $15,000 5%
bonds advertised to be sold on May 12 has been awarded to
Otis & Hough of Cleveland for 315,188-the price thus being
101.253. Denomination $500. Maturity $2,000 on May 15
in each of the years 1913, 1916, 1919, 1922, 1924 and 1926
and $1,000 on May 15 in each of the years 1927, 1928 and
1929. Bonded debt, not including this issue, $1,580.
valuation, $869,880.
The Richland Savings Bank and the Mansfield Savings Assessed
Negaunee, Marquette County, Mich.-Bonds Voted and
Bank bid par for balance of bonds and, as stated above, were
in a vote of 117
awarded jointly the ($1,500) Park Improvement bonds and Sold.-An election held May 19 resulted
"for" to 14 "against" a proposition to issue $15,000 5%
North Franklin Avenue ($4,300) bonds.
bonds to build a hose-house. Maturity part yearly from
Martinez School District, Contra Costa County, Cal.- 1918 to 1921 inclusive. These bonds, we are advised, have
in.
a.
10
until
received
be
will
-Proposals
Offering.
Bond
been sold to local investors.
June 2 by Louis N. Buttner, County Treasurer (P. 0.
New Albany, Floyd County, Ind.-Bond Sale.-An issue
Martinez), for $35,000 5% bonds. Denomination $1,000.
Date June 11908. Interest semi-annual. Maturity $1,000 of $80,062 90 5% sewer bonds has been disposed of to the
yearly on June 1 from 1909 to 1943 inclusive. Certified, Marion County Construction Co. in payment for work done.
check for 5% of bid, payable to the County Treasurer; is Denomination $500. Date Jan. 1 1908. Interest semiannual. Maturity 1-10 every year, subject to call, however,
required.
after six months' notice.
Medina, Orleans County, N. Y.-Bond Sale.--The highest
Newark, N. J.-Bonds Proposed.-Arrangements are
bid received on May 26 for the $30,000 registered villagevote authorhall-construction bonds described. in V. 86, p. 1298, was being made to petition the Common Council to
of thirty-year
one , at 100.28 and accrued interest for 4.45s offered by ity to the Comptroller to issue $1,000,000
Ferris & White of New York City. This firm also agreed bonds to raise funds to cover advances for school maintento furnish the blank bonds free of cost to the village. Ma- nance.
New Britain, Conn.-Bond Sale.-On May 22 $300,000
turity $2,000 yearly on July 15 from 1913 to 1927 inclusive.
Were awarded to
Merced County School District (P.0. Merced), Cal.-Bond 4% 30-year coupon water-loan bonds
100.133. Following are
Offering.-Proposals will be received until 10 a. in. June1 Kountze Bros. of New York City at
by P. J. Thornton, County Clerk, for $24,000 6% gold cou- the bids:
Kountze Bros., New York_ _100.133 Estabrook & Co.. Boston.... _ _ 96.78
pon school-building bonds. Denomination $1,600. Date N.
W. Harris & Co., N. Y___ 98.688 Hincks Bros. & Co., Bridgep. 96.00
Parkinson & Burr_ _ _l Boston 95.13
July 11908. Interest annually at Merced. Maturity $1,600 Blodget, Merritt & Co.,- Bos98.587 Lee,Iligginson&Co_
yearly on July 1 from 1909 to 1923 inclusive. Bonds are R.ton
98.53
&
Day
L.
Co.,
Boston......_
exempt from taxation. Certified check for 10% of bid, H. W. Poor
96.9271
Bost..m
payable to the Chairman Board of Supervisors, is required.
Authority, resolutions of the Genera Assembly approved
Miami Township (P. 0. Miamisburg), Montgomery on May 11 1903 and May 29 1903; also election held Feb. 25
County, Ohio.-Bond Offering,-Proposals will be received 1908. Denomination $1,000. Date Jan. 1 1908. Interest
until 12 m. June 1 by John R. Peiffer, Township Clerk, for semi-annually at the New Britain National. Bank of New
$7,500 5%.bonds for improving the Miamisburg and Center- Britain. Bonds will be certified as to their genuineness
ville Turnpike. Authority Section 2835, Revised Statutes. by the City Trust Co. of Boston, who will further certify
Denomination $750. Date June 1 1908. Interest semi- that the legality of this issue has been approved by Storey,
annually at the First National Bank of Miamisburg. Ma- Thorndike, Palmer & Thayer of Boston, a copy of whose
turity $750 yearly on June 1 from 1910 to 1919 inclusive. opinion will be delivered to purchaser. Securities will be
Certified check on a national bank for 5% of bonds bid for, ready for delivery May 25 1908.
payable to the Township Treasurer, is required. Purchaser
New Mexico, Territory of.-Bonds Offered by Bankers.to pay accrued interest. Bonds to be delivered within 10
Edmund Seymour & Co. of New York City are offering to
days from time of award.
on a preceding page) the $75,000
Middletown, Butler County, Ohio.-Bond Offer'ing.- investors (see advertisement
bonds of the Territory of New Mexico, awarded
Proposals will be received until 12 m. June 1 by John Kuntz, 5% couponApril
30. V.86, p. 1117. The bonds are exempt
on
City Auditor, for the 314,619,60 4% Yankee Road and to them
all taxation. Denomination $1,000. Date July 1
Fourth Street paving (city's portion) bonds mentioned in from
semi-annually at the National Bank of
V. 86, p. 1115. Authority Section 2835, Revised Statutes. 1901. Interest
York City. The bonds are divided into
Denominations: 20 bonds of $500 each and 10 bonds of Commerce inofNew
$25,000 each and mature $25,000 July 10
issues
$461 96 each. Date April 1 1908. Interest semi-annually three
call after July 10 1921, and $50,000 July 1
at the National Park Bank in New York City. Maturity 1931, subject to
call after July 11911. The legality of the
to
subject
1921,
$1,461 96 yearly on April 1 from 1909 to 1918 inclusive.
by Dillon & Hubbard of New York
approved
been
has
bonds
Certified check for $100, payable to the City Treasurer, is
will be delivered to each puropinion
whose
of
copy
a
City,
Bonds
are
required. Purchaser to pay accrued interest.
chaser.
coupon and tax-exempt.
Newport, R. I.-Temporary Loans.-This city recently
Middletown School District (P. 0. Middletown), Butler
18 1908 and
County, Ohio.-Bond Offering.-Proposals will be received negotiated loans of $50,000 maturing Sept.
Loring, Tolman &
until 12 m. June 5 by S. S. Wikoff. Clerk Board of $25,000 maturing June 1 1909 with and 3.97% discount
Education, for $15,000 3.65% high-school-building and site- Tupper of Boston at 3.42% discount
purchase bonds. Authority. Sections 3991, 3992 and 3993, respectively.
New Richmond, Clermont County, Ohio.-Bond Sale.Revised Statutes. Denomination $1,000. Date Sept. 2
1907. Interest semi-annually at the National Park Bank in On May 25 the First National Bank of New Richmond was
New York City. Maturity $5,000 on Sept. 2 in each of the awarded the $3,000 4% 25-year sidewalk-construction
years 1942, 1943 and 1944. Certified check for $100, pay- (village's portion) bonds, described in V. 86, p. 1298. The
able to the Treasurer of the Board of Education, is required. price paid was par and accrued interest.
Bonds to be delivered within ten days from time of award.
North Yakima, Yakima County, Wash.-Bond Sale.-On
Bonds are exempt from all taxes.
May 18 the $150,000 432% 20-year municipal bonds, deAngeles
County,
Cal.
Los
Miramonte School District,
scribed in V. 86, p. 1243, were awarded to E. H. Rollins &
Bond Sale.-Through local papers we learn that $16,000 Sons at 102.138-a basis of about 4.339%. The following
Co.
of
Trust
Los
Angeles
Los
the
bonds have been sold to
bids were received:
Angeles at 100.75 and accrued interest.
'Harris & Co., Los Angeles_..$152 400
E. H. Rollins & Sons, San
Ohio.
-Bids.
Dayton)
0.
(P.
$153,2071A. II. Leach & Co., Chicago_ 151:000
Montgomery, County
Francisco
21
May
for
on
the
received
bids
the
Following is a list of
Norwood, Bergen County, N. J.-Bond Sale.-On May
purchase of the $50,000 4M% restoration-bridge bonds 27 the $10,000 5% school-building-addition bonds described
p.
to
1299,
the
86,
V.
in
stated
awarded on that day, as
in V. 86, p. 1243, were awarded to the Closter National
Dayton Savings & Trust Co. of Dayton:
Bank of Closter at par and accrued interest. This was the
Dayton Say.&Tr.Co.,Day.$51,885 001Security Say.&Tr•Co.,Tol.$51,050 00
$500
1A• Kleybolte & Co., Clnc_ 50,750 00 only bid received. Maturity on Oct. 1 as follows:
Central Trust & Safe DeBank,
National
First
inclusive, $700 in 1922, $750 yearly
posit Co., Cincinnati___ 51,395 00'New
59,665 00 yearly from 1918 to 1921
Well. Roth & Co., Cinc__ 51,275 001 Columbus
&Co.. Clev. 5),63t 00 from 1923 to 1928 inclusive and $700 yearly from 1929 to
Seasonfrood & Mayer, Cm.. 51,272 00 1 Hayden , MillerCo.,
50,525 00 1932 inclusive.
Cinc
Otis & Hough, Cleveland_ 51,265 001W. R. Todd &
Hoehier & CuminInrs. Tol. 51,162 501
Notre Dame de Grace, Que.-Debenture Sale.-Hanson
Maturity $5,000 yearly on Dec. 1 from 1910 to 1919 Bros.
have been awarded at 91.39 the $275,000 OA% 40inclusive.
struction debentures advertised for
Montgomery County (P. 0. Dayton), Ohio.-Bond Sale.- year coupon sewer-con
in V. 86, p. 1180.
described
11
and
on
May
sale
We learn, through dispatches, that the $90,000 4M% 2-19-
Amt. Rid.
(City's share, Street Improv___$28,925 50
Newviiie Road Paving5,069 25
7,604 25
Well, Roth & Co., Cincinnati__ Bast Third Street
7,401 10
{Chestnut Street
6,386 65
1Blyrnyer Avenue
95
13,489
Street
Bowman
(North
(City's share, Street Improv_ _ _ _ 28,651 00
5,062 50
Newyllie Road Paving
7,603 00
Security Say. Bk. & Tr. Co. East Third Street
8400
7,3
Street
Chestnut
Toledo
13,486 00
North Bowman Street
A. B. Leach & Co., Chicago, Ill_ _City's share, Street Improv_ _ _ _ 28,430 00
City's share, Street Improv_ _ _ _ 28,925 50
Western German Bank, Cin
28,918 40
Seasongood & Mayer, Cineinnati.City's share, Street Improv_ _
3,457 50
West First Street
2,340 50
Prescott Street
2,720 50
Olive Street
3,517 50
Bank of Mansfield, Mansfield__ South Foster Street
451 50
Church Court
251 00
Florence Avenue
3,735 50
West Side Sixth Street Sewer
4,352 50
Wayne Street Sewer
City's share, Street Improv_ ___ 28,307 50
Richland Savings Bank
City's share, Street Improv_ _ _ _ 28,276 50
Mansfield Savings Bank
1,500 00
Park Improvement
Richland Savings Bank
1,500 00
Park Improvement
Mansfield Savings Bank
MAY 30 1908.J
THE CHRONICLE
1361
Ocilla, Irwin County, Ga.-Bond Offering.-Proposals will
All bidders offered accrued interest in addition to their
be received until 12 m. June 2 by M. J. Paulk, Mayor, for
$8,000 city-hall-building and site-purchase and $7,000 bids. Maturity on Oct. 1 as follows: $1,000 yearly from.
water-works-extension 5% gold coupon bonds. Denomina- 1911 to 1916 inclusive $1,500 yearly from 1917 to 1922 intion $1,000. Date July 1 1908. Interest annually at place clusive, and $2,000 yearly from 1923 to 1927 inclusive.
designated by purchaser. Maturity $1,000 yearly on July 1.
Rhinelander, Oneida County, Wis.-Bond Sale.
from 1923 to 1937 inclusive. Certified check for $500, pay- May 23 $25,000 5% coupon city-hall-building bonds -On
were
able to the City Clerk, is required. Bonded debt, not in- awarded to MacDonald, McCoy & Co. of Chicago at 104.55.
cluding these issues, $35,000. Floating debt, $4,000. Authority Sections 925-133 and 943, Revised Statutes
of 1898 as amended. Denomination $1,000. Date July
Assessed valuation for 1907, $852,720.
1
Omaha, Douglas County, Neb.-Bond Sale.-The three 1908. Interest semi-annually in March and September
at
the
Merchants' State Bank of Rhinelander. Maturity
issues of 4% coupon bonds aggregating $145,000, described in V. 86, p. 1299, were purchased on May 28, it is part yearly on March 1 from 1915 to 1919 inclusive. Bonds
are
tax-exemp
t. Total debt, not including this issue,
stated, by local investors at 103.069.
Oroville, Butte County, 0a1.-Bond Sale.-On May 18 $51,800. Assessed valuation for 1907, $2,532,500.
Rochester, N. Y.-Bond Sale.-On May 25 the $75,000
the $80,0005% levee bonds voted at thelelection held April 6
were awarded $20,000 to N. W. Halsey & Co. of San Fran- 4% 9-11-year (serial) registered school bonds described in
cisco at 100.50 and $60,000 to the State of California at par. V. 86, p. 749,were awarded to the East Side Savings Bank
A joint bid for the whole amount at par was also received. of Rochester at 100.15 and accrued interest. A bid of
from the Bank of Rideout, Smith & Co. and the First Na- $75,099 75 was also received from Kountze Bros. of New
tional Bank of Oroville. Denominations $500 and $1,000. York City.
Date July 15 1908. Interest semi-annual. Maturity $2,000 • Roselle Park School District (P. 0. Elizabeth), Union
yearly.
County, N. J.-Bond Sale.-The State of New Jersey has
Oswego, N.Y.-Bond Offering.-Proposals will be received purchased the $68,000 4M% coupon school bonds offered
until 12 m. June 3 by J. Carroll Smith, City Chamberlain, but not awarded (V. 86, p. 749) on March 16. Maturity on
for $270,000 43% registered bonds for the purpose of in- Jan. 1 as follows: $18,000 in 1928 and $25,000 in each
stalling a water supply from Lake Ontario. Denominations: of the years 1933 and 1938. I
260 bonds of $1,000 each and 20 bonds of $500 each. InterRyder School District (P. 0. Ryder),
est June 1 and Dec. 1 at the United States Mortgage & Trust No. Dak.-Bond Sale.-We are informed Ward County,
that the $7,000
Co. in New York City. Maturity $13,500 yearly on June 1 15-year school-building bonds voted March
6 have been
from 1909 to 1928 inclusive. Certified check on an incorpo- purchased by the State at par for 4s.
rated bank or trust company for 2% of bonds bid for, paySandpoint School District No. 1 (P.0. Sandpoint), Bonner
able to the City Chamberlain, is required. Bonds are tax- County, Idaho.
-Bond Sale.-We are advised that an issue
exempt and will be delivered June 5 1908. The genuineness of
5% building bonds was recently purchased by
of these securities will be certified to by the United States the$25,000
State at par.
Mortgage & Trust Co. of New York City, while their legality
Sandusky, Ohio.-Bids.-Two proposals were received
will be approved by J. H. Caldwell of New York City, a
copy of whose opinion will be delivered to purchaser. Pur- on May 28 for the $10,000 4% 10-year green-house bonds
chaser to pay accrued interest. .Bids to be made on blank described in V. 86, p. 1117. One was from Seasongood &
forms furnished by the city. These securities were offered Mayer of Cincinnati at par and accrued interest, less $75
for bond blanks and attorney's fees, while the other was
but not sold on May 26.
by Weil, Roth & Co. of Cincinnati at par and
Oxford County, Ont.-Debenture Offering.-Proposals will submitted
accrued interest, less $100 for bond blanks, attorney's fees
be received up to June 1 by H.S. Moore, Chairman of Finance and other
expenses incident to the negotiations. .
Committee, care of County Clerk (P. 0. Woodstock), for
San Francisco, Cal.-Vote.-The following vote was cast
$50,000 5% coupon road-improvement debentures maturing
at the election held May 11 which resulted in favor of the
part yearly for thirty years.
propositions
issue the $18,200,000 5% bonds as stated
Palmetto, Manatee County,Fla.-Bonds Not Sold.-Under in V. 86, p.to
1244:
date of May 22 we were advised that the $25,000 6% waterA vote of 21,488 "for" to 1,635 "against" on proposition
to issue the
works and street-improvement bonds mentioned in V. 86, 35,200,000 bonds for an auxiliary water system for lire protection.
A vote of 21,397 "for" to 1,650 "against" on proposition to
issue $4,p. 997, were still on the market.
000,000 bonds for a sewer system.
vote of 21,401 "for" to 1,698 "against" on proposition to Issue
Paris, Lamar County, Tenn.-Bond Offering.-The City 000A bonds
$5,00
for school-houses and the purchase of lands and sites for
the
Finance Committee, W. C. Johnson, Chairman, is offering same.
A
vote
of
21,228
"for"
to
1,733
"against"
on proposition to issue $2,000,for sale $40,000 5% water, light and street bonds dated 000 hospital bonds.
July 1 1908. Interest semi-annual. Maturity July 1 1938.
A vote of 21,137 "for" to 1,866 "against" on proposition to Issue
$1,000,bonds for a Hall of Justice and a county Jail.
Pleasant Ridge Hamilton County, Ohio.-Bond Sale.- 000
A vote of 20,653 "for" to 2,415 "against" on proposition
to Issue $1,000,According to local papers $2,225 35 5% 1-10-year improve- 000 garbage-disposal-system bonds.
All propositions carried, having received the required
ment bonds have been disposed of at private sale to Theodore Cornuelle, a contractor of Madisonville at par and two-thirds vote.
accrued interest.
Schenectady, N. Y.-Offering of Certificates of IndebtedPleasantville, Westchester County, N. Y.-Bond Sale.- ness.-Proposals will be received until 11 a. m. June 5 by
On May 13 the $3,500 Series "A" and $2,000 Series "B" 0. S. Luffman, City Comptroller, for $200,000 certificates
registered bonds, described in V. 86, p. 1180, were awarded of indebtedness issued in anticipation of the receipt of
taxes. Authority Section 78, Chapter 473, Laws of 1906.
to George M. Hahn of New York City at 100.53 for 5s.
Plymouth Township, Richland County, Ohio.-Bond Offer- Denomination to suit purchaser. Date June 5 1908. Ining.-Proposals will be received until 12 m. June 8 by Albert terest (rate to be named in bid) payable in New York ExKirkpatrick, Township Clerk (P. 0. Plymouth), for $15,000 change at the City Treasurer's office or at the Importers'
5% coupon road-improvement bonds. Authority an Act of and Traders' National Bank in New York City at option
the General Assembly passed April 22 1904. Denomination of purchaser. Maturity Feb. 5 1909. Certified check for
$500. Date June 8 1908. Interest March 1 and•Sept. 1. 1% .of certificates bid for, drawn on a bank or trust comMaturity $500 on Sept. 1 1922; $1,500 yearly on Sept. 1 from pany, and made payable to the City Comptroller, is re1923 to 1928 inclusive. $2,000 on Sept. 1 in each of the years quired. Certificates to be delivered within ten days after
1929 and 1930 and $1,500 on Sept. 1 1931. Bid must be date of award. Purchaser to pay accrued interest.
Seneca School District (P. 0. Seneca), S. 0.-Bond Offerunconditional and accompanied by a certified check (or cash)
for $200, drawn on some bank of Plymouth. Purchaser to ing.-Further details are at hand relative to the offering of
the $15,000 5% coupon graded-school-building bonds menfurnish blank bonds and pay accrued interest.
Poland Township, Mahoning County, Ohio.-Bonds tioned in V. 86, p. 1058. Proposals at par will be received
Voted-Bond Offering.-At an election held April 11, 345 at any time by David F. Nicholson, Superintendent of Public Schools. Denomination $1,000. Date April 1 1908. Inof the voters were in favor of issuing $30,000 437
0 coupon
road-improvement bonds, while 56 voted against the issue. terest annually in New York City. Maturity twenty years.
Denomination $500. Date June 1 1908. Interest Jan. 1 Bonds are exempt from taxation. Bonded debt this issue.
and July 1 at the Township Treasurer's office or at some bank Assessed valuation $585,000.
Shadyside Special School District (P. 0. Shadyside),
in Mahoning County. Maturity $5,000 yearly on July 1
from 1923 to 1928 inclusive. Bonds will be delivered within Belmont County, Ohio.-Bond Offering.-Proposals will be
two days after date of sale. Certified check for $1,000, received until 12 m. June 10 by A. J. Harbaugh, Clerk Board
drawn on some bank in Mahoning County, and made payable of Education (P. 0. Bellaire), for $29,000 4M% coupon
to the Township Trustees, is required. Proposals for these school-building bonds. Authority Section 3991, Revised
bonds will be received until 10 a. m. June 1. W. J. Maurice Statutes. Denomination $1,000. Date July 1 1908. Interest March 15 and Sept. 15 in Bellaire. Maturity $5,000
(P. 0. Lowellville) is Township Clerk.
Port Clinton Special School District (P. 0. Port Clinton), on Sept. 15 1923 and $2,000 yearly on Sept. 15 from 1924 to
Ottawa County, Ohio.-Bond Sale.-On May 25 the following 1935 inclusive. Bonds are free from all taxes. Certified
bids were received for the purchase of the $25,000 43% check for $500, payable to the Treasurer of the Board of
coupon school-house bonds, described in V. 86, p. 1299, Education, is required Bonded debt at present, $9,000.
awarded on that day to Hoehler & Cummings of Toledo at Floating debt, $1,500. Assessed valuation for 1907,
$286,000.
103.69 and accrued interest.
Shelley, Idaho.-Bond Offering.-Proposals will be reHoehler & Cummings,Tol_$25,922 50 Well, Roth de Co.. Cin_ _$25,410
00 ceived until
Security S.13.& Tr.Co.,Tol_ 25,702 50 Bank of Elmore. Elmore__
8 p. m. on June 1 by Fred. C. Mickelson, Village
25,375
00
Otis & Hough, Cleveland_ 25,581 00 W.R. Todd & Co., CM_
25,302 50 Clerk, for $6,500 6% gold coupon water-works bonds. AuDenison & Farnsworth.Cl_ 25,558 00 New First Nat.
Colum 25,280 00
Hayden, Miller & Co., CL 25,531 00 Magruder Bkg.Bk.,
thority
Sections 3 and 4, Laws of 1899. Denomination
Co., Port
First Nat. Bank, Cleve__ 25,417 50
Clinton ($10,000)
10,050 00 $1,000, except one bond of $500
Date July 1 1908. In-
1362
[VoL. Lxxxvi.
THE CHRONICLE
terest semi-annually at place designated by purchaser.
Maturity twenty years, subject to call after ten years.
Bonds are exempt from taxation. The village has no debt
at present.
Sheridan, Sheridan County, Wyo.-Bonds Not Sold-Bond
Offering.-The $250,000 5% 10-30-year water-system-extension bonds described in V. 86, p. 686, were not disposed of
on April 20. Proposals are again asked for these bonds and
will be received this time until June 1.
Bond Sale.-On May 4 $14,000 5% 10-20-year (optional)
sewer-extension bonds were awarded to E. Gillette, State
Treasurer, for $14,100-the price thus being 100.713. Denomination $500. Date July 11908. Interest semi-annual.
Somerville (P.O. Station Boston), Mass.-Description of
Bonds.-The City Treasurer writes us that the two iss.ies of
4% bonds aggregating $110,000, awarded on May 8 to R. L.
Day & Co. of Boston at 102.549 (V. 86, p. 1181) are in denomination of $1,000 each and mature as follows:
$30,000 sewer bonds, mature $1,000 yearly on April 1 from 1909 to 1938 inclusive.
1 from 1909 t9
80,000 general-city bonds, mature $7,000 yearly on April1919
to 1928 in
1918 inclusive and $1,000 yearly on April 1 from
clusi ye.
• Date April 1 1908. Interest semi-annual.
Spokane County School District No. 81, Wash.-Bids.On May 18 the following bids were submitted for the $250,000 41A% 20-year school-building and site-purchase bonds
awarded on that day as stated in V. 86, p. 1301, to N. W.
Halsey & Co. of Chicago at 104.025 plus the cost of furnishing blank bonds:
775 00
nandez at 101.75 and accrued interest.
bids:
Following are the
ri
$25,437 50 First Nat. Bank of Contra
B. Fernandez
Costa Co., Martinez_ _ _ _$25,237_50
N. W. Halsey & Co., San
P-0
25,292 50 E. H. Rollins & Sons, San
Francisco
25,118 75
Francisco
Los Angeles Trust Co., Los
25,275 00 State Board of Examiners 25,000 00
Ang.ks
Stillwater School District (P.O. Stillwater), Okla.-Bond
Offering.-Proposals will be received up to and including
June 6 by W. B. Swinford, Treasurer Board of Education,
for $10,000 5% bonds. Interest semi-annual. Maturity.
twenty years.•ii,.Certified check for 5% of bonds is required
Sugar Creek Township SchooljDistrict (P.O. Bellbrook),
Greene County, Ohio.-Bonds Not Sold.-There were no
biddeis on May 20 for $1,300 5% coupon high-school-building bonds offered on that day. Authority Section 3994,
Revised Statute. Denomination $650. Date Sept. 21
1907. Interest annually in Bellbrook at the office of the
Clerk of the Board of Education. Maturity $650 three
years from date and $650 five years from date. Bonds
are exempt from taxation. Total debt at present $1,000.
Assessed valuation $805,214.
- Taunton, Mass.-Bids.-We are informed that the following bids were received on May 12 for the $15,000 (not $16,000
as reported in V. 86, p. 1244) 30-year water and $12,000
20-year school-house 4% bonds awarded on that day to
Parkinson & Burr of Boston at 109.27 and interest and
106.83 respectively:
$12,000
$15,000
water school-hcuse
bontis.
bonds.
106.83
109.27
106.27
108.43
106.11
108.239
106.05
108.13
105.94
.9
.
107.79
105.777
107.777
105.523
107.653
108.139
107.557
107.521
106.36
Parkinson & Burr, Boston
Adams & Co., Boston
Denison &Farnsworth, Cleveland ana Boston
Crocker & Fisher, Boston
Blodgett, Merritt & Co., Boston
H. L. Day & Co., Boston
All bidders offered accrued interest in addition to their " E. H. Rollins & Sons, Boston
N. W. Harris &Co.. Boston
bids.
Merrill. Oldham & Co , Boston
• Stevenson, Skamania County, Wash.-Bond Sale.-On Estabrook
& Co. Boston
coupon
gold
l)
ar
(optiona
10-20-ye
6%
Blake Bros. & CO., Boston_
$5,000
May 12 the
dc Burr, Boston
l-improvement bonds offered on that day (V. 86, Perry, Coffin
N.VV.Halsey& Co.,ChIc_ 4260,063 00'Thos. J. Bolger&Co-Ch_$256,
256,750 00
A. B. Leach & Co., Chic_ 258,875 00'Traders' N. B., Spokane..
255,825 00
Harris Tr. & S. B., Chic_ 257,931 00 Mason, Lewis & Co., Ch_ 255,675
00
E.H.Rollins dc Sons,Chic_ 257,225 501Lee,Higginson &Co.,Chic_
00
255,250
.,Spo.
tTn.L.I.Co
Western
00
256,925
First Nat. Bank, Chic_ _ _
municipa
The water bonds are dated Jan.
p. 1181) were awarded to the State of Washington at par.
house bonds are dated Dec. 1 1907
Stege School District, Contra Costa County, Cal.-Boni Interest
semi-annual.
Sale.-On May 19 $25,000 bonds were awarded to B. Fer-
NEW LOANS.
$5,500t000.00
1908 while the schoolDenomination $1,000.
NEW LOANS.
,000,000
REFUNDING GOLD BONDS
OF
CITY OF ST. LOUIS JERSEY
CITY, N. J.
4% PER CENT PER ANNUM
Public Buildings and Public Improvement
EXEMPT FROM TAXATION
Sealed proposals will be received by the Board
to be
of Finance of Jersey City, at Its meeting
at
held in the City Hall, Friday, June 5, 1908,
3 o'clock p. m., when they will be publicly opened,
for the whole or any part of $1,000,000 Rtfunding
indebted(coupon) Bonds, to refund floatingand
by virness; said bonds are issued under
g the
authorizin
Act
"An
entitled
tue of an Act
cities, towns, townships and
ed
Incorporat
1908.
12th,
May
LOUIS,
ST.
this State to fund their floating
of
boroughs
the undersigned are authorized to issue and sell for the City Indebtedness and their matured and maturing
By virtue of Ordinance No. 22,674,
thousand dollars ($5,500,000 00) of St. Louis Public Buildings bonds," approved March twenty-third, eighteen
t
of St. Louis five million five hundred
sealed
proposals for the purchase of said bonds, Issued for the
and
hundred and ninety-nine, and the amendmen
and Public Improvement Bonds,
at the Mayor's Office, in the City of thereto entitled "An Act to amend an Act en
be
following purposes, and hereinafter described, will ofreceived
publicly opened by the unde- titled "An Act authorizing the incorporated cities,
and
1908,
June,
10th
the
day
of
noon,
o'clock,
St. Louis, until 12:00
this State to
towns, townships and boroughs of
signed at said place and hour:
and their ma500,000 00
fund their floating Indebtedness
MUNICIPAL BRIDGE, and purchase of land for approaches
bonds,' approved March
maturing
and
tured
00
800,000
hundred and
HOSPITALS and purchase of sites
twenty-third, one thousand eight was approved
130.000 00
FIRE DEPARTMENT (Engine Houses and Lots)
ninety-nine," which amendment and
one, and
AND
hundred
COURTS
OTHER
AND
L
nineteen
CRIMINA
11th,
February
CIVIL,
POLICE,
entitled An Act to
MENT
the amendment to said Act Act
POLICE HEADQUARTERS AND HEALTH DEPART
an Act
amend
to
2,000,000 00
amend an Act entitled "An Incorporated cities;
HEADQUARTERS and purchase of sites
400,000 00
entitled ''An Act authorizing
of land
State
to
this
of
boroughs
BRIDGES AND VIADUCTS and purchase
towns, townships and
500,000 00
share of cost
and their maKING'S HIGHWAY BOULEVARD, City's
fund their floating indebtedness
500,000 00
approved March
bonds,
land
of
purchase
maturing
and
and
SEWERS
tured
PUBLIC
eight hundred and
670,000 00
twenty-third, one-thousandsaid amendment was
PUBLIC PARKS-Purchase of land
ninety-nine and which
one thousand nine
$5,500,000 00
eleventh,
approved February
Total
Act was approved April
and will each be of the denomination of $1,000 United hundred and one," which
Said bonds will be dated July 1st, 1908, after their date, and will bear interest from their date twenty-fifth, nineteen hundred and seven.
payable on the
States Gold Coln, payable twenty (20) yearsSemi-annual interest coupons, payable on the 1st day of
The 'principal of said bondsInisgold
coin of the
at the rate of four (4) per cent per annum.
June, 1928,
to each bond, and both bonds and coupons will be thirtieth day of America,
of the present standard
January and July, respectively, will be attached
in
United
York,
of
New
in
,
States
of
Bank
United
National
Commerce
the
at the
and
interest,
payable to bearer, as he may elect, either at the
fineness,
Scotland, Limited, 37 Nicholas Lane, London, England, of weight and
annum,is payable in said
States Gold Coln, or at the National Bank of
eighty-six cents, six and one-half mills ($4.8665) per rate of 4A per cent perthe
first
day
of
January
in pounds Sterling, at the rate of four dollars,condition
on
and
lly
Interest,
semi-annua
principal
that In payment of
coin
pound Sterling. The bonds will contain the
will be calculated at the present standard of and July of each year.
the United States Gold Dollar and the Pound Sterling
Proposals should bo enclosed sin a sealed enfor registered bonds at any time.
for Refunding
weight and fineness. The bonds may be exchanged
and
par
premium
the
bond,
velope and endorsed "Proposal
Bidders are requested to state in their proposals the price offered per
handed to the Clerk
of Jersey City," and
Bonds
in open meeting to be
Finance
to be stated as one amount.
of
r.
Board
Comptrolle
the
by
the
blank
of
furnished
in
No bid will be considered that is not made on
check, payable to the order of the held Friday, June 5, 1908, at 3 o'clock p. m.,
Proposals must be accompanied by a cashier's or certified
(5) per cent of the nominal amount of the bonds the City Hall.
certified
ed
Comptroller (and subject to his approval) equal to five
by
a
accompani
be
to
be
must
held
otherwise
bid
is
accepted,
not
Each
proposal
the
bid for; said deposit to be returned immediately if on the part of the bidder to comply with his pro- check to the order of the City Treasurer of Jersey
bonds
subject to forfeiture to the City in event of failurepart
of the purchase money. A deposit in the re- City for 2 per cent of the par value of the
credited
posal, or, In case of compliance, to be retained as
In the National Bank of Commerce, in New bid for, the amount of said check to be returned
be
quired amount to the credit of the City of St. Louis.
and
will
accepted,
accepted as full compliance with the requirements upon said bid if
York, on or before Tuesday, June 9th, 1908, will beon earnest money deposited.
forthwith if not accepted.
relating to deposits. No Interest will be allowed and reservations of this advertisement, and must
Said bonds shall bear date of July 1, 1908,
purProposals will be subject to all the conditions
the
of
and shall be delivered on July 1, 1008, thebonds
part
bidder.
the
on
the
of
agreement
portion
refer to same as a
Purfor
"Proposal
endorsed
paying any accrued interest on the
d
and
the
chaser
undersigne
Proposals should be enclosed and addressed to
delivery.
to the day of
Finance
chase of St. Louis City Bonds."
By ordinance passed by the Board of bonds,
or all bids.
The undersigned reserve the right to reject any
therefor in current funds, at the office of the Comp- May 12, 1908, authorizing the issue of these
The Bonds will be delivered against payment so elects in his proposal, at the National Bank of a sinking fund was also created for the purpose of
due.
troller in the City of St. Louis, or, if the bidder1908.
paying the principal of said bonds When
any or all
Cempmerce, in New York, on the 1st day of July,
and Counselors at Law, New York City,
The Board reserves the right to rejectJersey
City.
of
The opinion of Messrs. Dillon & Hubbard, Attorneys
blds if deemed for the best Interests
be furnished the successful bidders by the City.
as to the validity of the bonds, will
By order of the Board of Finance,
n obtained at the office of the Comptroller
A shmple bond can be seen and further informatio
FRANCIS GORMLEY,
ROLLA WELLS, Mayor.
City Comptroller.
r,
Comptrolle
JAMES Y. PLAYER,
4% TWENTY-YEAR GOLD BONDS
MAY 30 1908.1
THE CHRONICLE
Taylor, Williamson County, Tex.-Bonds Voted.-This
city has voted to issue the $25,000 5% 20-40-year (optional)
street-improvement bonds mentioned in V. 86, p. 624.
Tecumseh School District No. 92 (P. 0. Tecumseh), Pottawatomie County, Okla.-Bond Sale.-On May 19 the
$10,000 school-building bonds described in V. 86, p. 1244,
were awarded to John Nuveen & Co. of Chicago as 53/
2s.
Other bids received were as follows: Oklahoma Bond & Trust
Co. for 6s, MacDonald,McCoy & Co. of Chicago par for 5s
and Thos. J. Bolger & Co. of Chicago 101 for Os.
Todd County (P. 0. Long Prairie), Minn.-Bond Sale.The $50,700 10-year drainage and ditch bonds, proposals
for which were asked until May 12 (V. 86, p. 1117) have
been purchased by the Union Investment Co. of Minneapolis for $51,195 (100.976) and accrued interest for 5s.
Purchaser to furnish blank bonds. Date day of issuance.
Toledo School District (P. 0. Toledo), Lucas County,
Ohio.-Bond Sale.-On May 26 the $150,000 VA% 20-year
school bonds,proposals for which were received on May 23,
were awarded to the Security Savings Bank & Trust
Hoehler & Cummings, both of Toledo, at their jointCo. and
bid of
102.325. Following are the bids:
Security Savings Bank & Trust Co., Toledo
1$153,487 50
Hoehler & Cummings, Toledo
--f
Otis & Hough, Cleveland_
•153,687 50
Cleveland Trust Co., Cleveland
First National Bank, Cleveland...
} 153,351 00
Ohio Savings Bank ec Trust Co., Toledo
Central Trust & Safe Deposit Co., Cincinnat
i
153,255 00
Provident Savings Bank & Trust Co., Cincinnat
i
} 153,165 00
German National Bank, Cincinnati
Hayden, Miller & Co., Cleveland
152,687 00
H. S. Warren & Co., Detroit
152,511 00
N. W. Harris & Co., New York
152,088 00
A. do J. Frank, Cincinnati
150,000 17
Northern National Bank, Toledo (for
$50,000)
Par
Union Savings Bank, Toledo
1(for $20,000) 20,020 00
Union Safe Deposit ec Trust Co., Toledo
IL H. Burgert, Toledo (for $5,000)
5,050 00
C. W. Bond, Toledo (for $1,000).
Par
'Provided bonds are delivered as follows: "$50,000
as soon as duly executed and approved; $50,000 on or before July 10
000 on or before Aug. 15 at their option, entire at their option and $50,premium to be paid on
delivery of first installment of bonds."
1363
of Toledo, but this offer was not considered. See V. 86,
p. 1244 for a description of these bonds.
Troy School District (P. 0. Troy), Idaho.-Bond
On May 16 this district sold $12,000 5% school-ho Sale.use bonds
to the State of Idaho at par. Denomination $1,000.
,
Maturity "ten and twenty years."
Tulare High School District (P.0.Tulare), Tulare
County,
Cal.-Bond Sale.-On April 22 this district dispose
d of $40,000 5% 1-20-year (serial) high-school bonds
Angeles Trust Co. of Los Angeles on a 4%% to the Los
basis. Denomination $1,000. Date May 1 1908.
Interest annual.
Vancouver, B. O.-Debenture Offering.-Prop
osals will
be received until 4 p. m. June 26 by G. F. Baldwi
n,Sity
Comptroller, for $1,975,000 4% 40-year
debentures.
Van Wert County (P. 0. Van Wert), Ohio.-Bond
Sale.On May 23 $17,500 434% ditch-improvement
awarded to Geo. H. Marsh at par. Accrue bonds were
d interest, if
any, to be paid by purchaser. Authority Section
4481 and
4482, Revised Statutes. Denomination $500. sDate
May
30 1908. Interest semi-annually at the County Treasur
y.
Maturity $6,000 on May 30 in each of the years 1909
and 1910
and $5,500 on May 30 1911. Bonds are exempt from
taxation.
Watertown, Jefferson County, N. Y.-Bond Sale.
880,000 trunk-sewer, $24,500 school and the $11,43-The
5 firedepartment-building 4% 30-year registered
offered
on April 21, have been awarded to Kountze bonds
Bros. of New
York City. Bonds are tax-exempt and are describ
ed in
V. 86, p. 999.
Weehawken Township (P.O.Station 1, Hoboke
n),I,Hudson
County, N. J.-Bond Sale.-The $27,000
434% coupon
Clifton Road improvement bonds described in
1182, were sold on May 11 to A. B. Leach &Co. of V.14,86, p
New York
City at 100.877. Maturity $1,000 yearly on July1
from
1915 to'1923 inclusive and $2,000 yearly on July
1 from:1924
to 1932 inclusive.
Westfield, Union County, N. J.-Bond
Offering.-ProA bid at par for $3,000 434% bonds was also
posals
will be received until 8 p. m.June 15 by Lloyd Thomp
receive
d
from I. E. Knisely, President of the Northern
National Bank son, Town Clerk, for $20,00
0 5% coupon sewer, sidewalk
NEW LOANS.
NEW LOANS.
INVESTMENTS.
oimo,Ocoo
WILMINGTON, DEL., Westfield, 'Union Co., N. J.,
030,000
SINKING FUND LAN.
BOND OFFERING.
MISealed bids will be received for $30,000 SINKING FUND LOAN OF WILMINGTON,DEL.,
until 12:00 o'clock M., MONDAY, JUNE 1ST,
1908. Bonds will date from June 1st, 1908, In
denomination of $50 00 or multiples thereof, and
bear 4% Interest, payable semi-annually on
April 1st and October 1st, and will mature
$8.700 on the first day of October. 1930; and
$21,300 on the first day of April, 1931. All of
said issue for use of the BOARD OF STREET
AND SEWER COMMISSIONERS, to pay for
the curbing, guttering, grading, widening, paving
and improving of TENTH STREET, between
MARKET and TATNALL STREETS,in the City
of Wilmington, Del.
All proposals must be accompanied by certified
check payable to the order of "THE MAYOR
AND COUNCIL OF WILMINGTON" for 2%
of the amount of bonds bid for, the same to he
forfeited If the bidder fails to accept and pay
for the bonds awarded. The successful bidder or
bidders will be requited to settle for the bonds,
with accrued interest from June 1st, 1908, on
or before 12;00 o'clock noon, June 10th 1908.
The right to reject any and all bids is reserved.
1.01Address all bids in sealed envelopes to Howard
D. Ross, City Treasurer, marked "PROPOSALS
FOR SINKING FUND LOAN."
HOWARD ROSS,
City Treasurer,
Wilmington, Del.
R. L. DAY & CO.,
Wall St.,
Proposals will be received by the
Town Council 87
35 Congress
of the Town of Westfield, Union
ON JUNE 15, 1908, AT EIGHTCounty, N. J.. NEW YORK
BOSTON
O'CLOC
K IN
THE EVENING, at the Council
room, No. 129
Elm Street, Westfield, N. J.. for
$20,000
5%
sewer, sidewalk and macadam road
improvement
bonds; interest seml-annual; denomina
tion of
$1,000 each; interest coupons attached
of the issue will be due June 30th, 1909, . $2,000
and $2,000
June 30th of each year thereafter.
The Town Council reserves the right to
reject
any and all bids.
Member. New York and
Proposals may be sent to Lloyd Thompso
n,
Town Clerk.
Bototon Stock Exchange,
St.,
HIGHGRADE INVESTMENT BONDS
Municipal and Railroad
HUNT, SALTONSTALL & CO.,
Members of Now York Stock
Exchange
Investment Securities
60 STATE STREET
BOSTON
COLORADO SPRINGS AND
CRIPPLE CREEK DIST. RY.
Co. 1st MTG. 5% BONDS
WE OFFER
NEW JERSEY MUNICIPAL
BONDS
R. M. GRANT & CO.,
31 Nassau Bt.,
-
-
New York
INVESTMENT BONDS
Lists upon request.
Denison & Farnsworth
klbert Kleybolte & Co.,
THE SOUTH
Property and Investments of every
Kind in all Southern States.
METROPOLITAN INVESTMENT CO.
GEO. B. EDWARDS. President. Modesto 1. 8.0.
New York Office. Soarer Bldg 82-92 Beaver St.
2 WALL ST., NEW YORK
409 Walnut Street,
CINCINNATI, 0.
Municipal,
County, State,
Blodget, Merritt 8c Co.,
and High-Grade Public Sex-ries
Securities
Correspondence Solicited
60 State Street, Boston
BOSTON
CLEVELAND and PRILADRLPHIA
T. W. STEPHENS ez CO.,
MUNICIPAL AND RAILROAD
BONDS.
BANKERS,
36 NASSAU STREET,NEW
YORK
STATE, CITY & RAILROAD
BONDS
BLACKSTAFF & CO.
LIST ON APPLICATION.
INVESTMENTS
SEASONGOOD & MAYER1
Mercantile Library
1332 Walnut Street
PHILADELPHIA
Building,
CINCINNATI.
LIST OF SPECIALTIES ON REQUEST
[VOL. Lxxxvx.
THE CHRONICLE
1364
following bids
Youngstown, Ohio.-Bond Sale.-The
.
ination,
and macadam-road improvement bonds Denom
18 for the six issues of 5% bonds,
May
on
ed
receiv
were
ty $2,000 yearly
V. 86, p. 1183:
$1,000. Interest semi-annual. Maturi
aggregating $40,420, described in
18,030
$1,415
$10,925
$9,225
ive.
$2,825
inclus
18.000
1918
to
1909
from
30
Marshall& Shelby St.Summit
on June
Police Park Ave. B.Federal Bonds.
Bonds. AV.Bonds.
be
among
found
will
ng
Bonds.
offeri
SI.
bond
Bonds.
Bonds.
$
The official notice of this
$
$
$
$
60
$
ment.
*9,410 00 11,126 00 *1.440 GO *8,190
he advertisements elsewhere in this Depart
8,183 00
Citi.Nat.Bk.Wooster*8.145 00 *2,855 00 9,401 00*11,132 00
00
8,121
Ctn.
ng.-Proposth&Co.,
Bond
Offeri
Well,Ro
Neb.y,
Weston,Saunders Count
& Farns-- 8,175 50
June 1 by Ferdinand Pacal, Denison
9,392 00 11,122 75
8,171 00
worth, Clev.&Bos. 8,112 80
als will be received until 8 p. m. water-wor
9,386 00 11,116 00
8,107 04)
ks
Clev.
voted
Bk..
bonds
Nat.
First
5%
00
$10,0
Village Clerk, for the
8,150 45
Breed & Ilarrison,
88
In1
May
1908.
Date
11,088
38
$500.
9,363
on
inati
8.101 00
Cincinnati
on April 7. Denom
call
to
t
,
y
subjec
years,
&Mayer
ood
twent
8,155 56
ity
Seasong
Matur
9,368 95 11,095 50
terest semi-annual.
8,095 00
Cincinnati
for 1% of amount bid is Hophler
50
&Cummings,
8,134
after five years. Certified check
50
11,068
9.349 50
8,092 50
8,157 00
Toledo
required.
9,071 00 11,088 00
Otis &Hough, elev.. 8.090 00
in
ed
onds
Award
y,
Hayden, Miller dr Co
00 8,123 00
Winchester, Frederick Count Va.-B
8,081 00 2,828 00 9,330 50 11,050 00 1,416
Cleveland
May 27 that $5,000 of
Part.-We are advised under date of
8,12100
New First National
1.41775
5
oned
110492
lding
menti
bonds
Bank,Columbus 8.00480 2.82825 9.32850
the $10,000 4% coupon school-bui
to local bidders at Firemen's Pension
39
1,433
in V. 86, p. 1060, have been disposed of
own_
lod., Youngst
*Successful bidders.
par. Maturity $1,000 yearly.
to their
d
-Bon
),
Ohio.
All bidders offered accrued interest in addition
0.
Xenia
(P.
ct
Distri
l
Schoo
City
Xenia
1
m.
June
p.
3
ed
until
bids.
be
receiv
will
ls
oposa
ng.-Pr
Offeri
2 p.
0 4%
Bond Offering.-Proposals will be received untilfollow
ing
by B. Schlesinger, Clerk Board of Education, forn$8,00
Wm. I. Davies, City Auditor, for the
by
Re15
3994,
Sectio
ity
June
.
Author
bonds
tion
protec
firecoupon
1908.
1
:
June
bonds
Date
on
$500.
y
inati
Maturit
Denom
utes.
t,Stat
vised
water-main-construction and extension bonds.
of $21,000 5% $2,000
yearly on Oct. 1 front 1010 to 1918 inclusive, and
Interest semi-annually at the Citizens' National Bank
1910.
1928
$3,000 on Oct. 1
yearly
Xenia. Maturity $500 yearly on June 1 from 1913 toBoard
f),800 5% Mahoning Avenue sewer bonds. Maturity $3,360
on Oct. 1 from 1909 to 1913 Inclusive.
inclusive. Certified check for $100, payable to the taxes.
1009.
1
y
Oct.
Maturit
bonds.
500 5% West Willis Avenue grading
ofiEducation, is required. Bonds are exempt from all
son
The above bonds are dated June 22 1908. Interest semiYellow Grass, Sask.-Debenture Sale.-G. A. Stim ed, annual
ly at the City Treasurer's office. Bid must be made
report
& Co. of Toronto were the successful bidders, it isthis town: on each issue separately and accompanied by a certified
by
d
offere
ly
al
for $5,000 7% debentures recent
check for 2% of each issue bid upon, drawn on a nation
Maturity part yearly for ten years
made payable to the City Auditor. Purchaser
and
bank
rebe
will
Yonkers, N. Y.-Bond Offering.-Proposals City Comp- must be prepared to take the bonds not later than June 22
ceived until 12 m. June 10 by James T. Lennon,
1908, the money to be delivered at one of the banks in
troller, for the following bonds:
Youngstown or at the City Treasurer's office.
front
1
June
on
Maturity $5,000 yearly
$100,000 4;4% park bonds.
Zanesville School District (P. 0. Zanesville), Ohio.-No
e.
Inclusiv
1909 to 1928
from
Maturity $925 yearly on June 1
Bonds Voted.-We are advised by the Clerk of the Board of
18,500 43-% street-paving bonds. e.
1909 to 1928 Inclusiv
the reports stating that this district voted
annual. Certified check Education that
25
to
issue $65,000 high-school-building bonds
March
V Date June 1 1908. Interest
on
City
Peck,
H.
Gideon
are
erroneous.
877)
p.
for 2% bonds bid for, payablery to
86,
(V.
15.
June
on
of bonds
Treasurer, is required. Delive
MISCELLANEOUS.
ENGINEERS.
MISCELLANEOUS.
An Unusually Strong Investment
In Small Denominations
H.M.Byllesby & Co.
THE AMERICAN M FG. CO.
$100 $500 $1,000
MANILA, SISAL AND JUTE
FIRST MORTGAGE 6%
EIIGINEERS
CORDAGE.
Guaranteed Gold Bonds
AND OPERDESIGN,CONSTRUCT
, POWER,
ATE RAILWAY. LIGHT PLANTS
HYDRAULIC AND GAS
65 Wall Street,
New York.
A. B. Leach & Co.,
BANKERS,
SECURED BY First Mortgage on Rich Agricul
tural Land.
PROTECTED BY United States Government
Legislation
AGO
144 Dearborn St., CHIC
Circular and handsomely illustrated volume
"Irrigation" mailed free upon request.
H. M. Payson 6t Co., Portland, Me.
Battles, Heye 6: Harrison W. H, Trumbull & Co.
35 Congress Street
131 South 5th Street
Boston, Mass.
Philadelphia, Pa.
JAMES S. KUHN
President
L. L. McCIELLAND
Sec. and Treas.
D ST., Drexel Bldg., NEW YORK
3 BROA
BROKER AND DEALER IN
Railway Bonds, Guaranteed Stocks and
other Inuestment Securities.
That do NOT NEED REORGLNIZAT ION
SAUNDERS & JONES
P. J. COODHART & CO.,
Bankers
NEW YORK
57 BROADWAY
Telephone 11240 Rector
3126 Walnut St., Cincinnati
Bank and Trust Co. Stooks
Connecticut Traction Bonds
YORK
85 WALL ST., - - NEW
R. T. Wilson 8c Co.
Bankers & Commission Merchants
33 WALL STREET
-
Mobile Ala,
ma.
Oklahoma City, Oklaho Cal.
San Diego,
& CO
J. G. WHITE
Contractors,
Engineers,
- NEW YORE
43-49 Exchange Place,
on
Electric
Reports
Investigations and
Electric Light and Power
Railway, (las.Propert
Financial infor
ies
Transmission Investors.
stitutions and
Electric Light and
Electric Railways,
Financed,
Plants
Power
ic
Electr
Municipal & Corporation Securities Co.
Designed and Built.
_Bank for Savings Building, Pittsburgh, Pa.
Jacob Rubino,
AGO
American Trust Building, CHIC
For further reference write to
Commonwealth Trust Co
First National Bank
Second National Bank Colonial Trust Co.
Pittsburgh, Pa.
ADELPHIA
421 Chestnut St., PHIL
EXAMINATIONS and REPORTS
GUARANTEED BY
American Water Works & Guarantee
Company of Pittsburgh. Pa.
Paid-up Capital and Surplus. 83,600,000
Established 1882
149 Broadway, NEW YORK
28 State St., BOSTON
Incorporated
Wining guginters.
H. M. CHANCE
Consulting Mining Engineer cud Geologist
COAL AND MINERAL PROPERTIES
Examined, Developed, Managed
NEW YORK 537 Drexel Bldg.,
PHILADELPHIA,PA
London Correspondent:
d,
3, G. WHITE & CO., Limite
E. C.
St.,
9 Cloak Lane. Cannon
Canadian Correspondents:
CANADIAN WHITE CO., Limited,
Montreal
Principal Philippine Office. Manila. P. I
N, INC.
STERN 86 SILVERMActors
Engineers and Contra
CONSTRUCTION OF RAILROADS
and
Investigation and reports on organization
operation of existing roads.
PHILADELPHIA. PA
Land Title Building,
Established 150
Eetablished 1880
ISTER 8f. CO.
L. REG
A. Success
ors to PEPPER & REGISTER
Engineers & General Contractors .
elphia
112 North Broad St., - Philad
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