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1
.
.
financial
nmtcle
ypnrnwrrial J
Entered according to Act of Consrress.
in the
year 1904, by William B.
Daka Company,
Washington, D.
in the office of Librarian of Congress,
C
SATURDAY, MAY 7, 1904
NO. 2028.
CLEARINGS—FOR APRIL 1904 AND 1903. CLEARINGS— WEEK ENDING APRIL 30, 1904
VOL.
78.
ALSO SINCE JANUARY
1904
AND
In. oi
1903.
Ihr.
1904.
1903.
|
4,790,64.1.085
Philadelphia..
Pittsburgh
Baltimore
liullalo
Washington.
Albany
17,6fa6,5ti9
.
14,968.755
12,325. OSS
Rochester
Scrauton
Syracuse
Wilmington.
Wilkes Barre..
Wheeling
Binghamton...
.
nsburg
ier
Frederick
Total Middle
Boston
Providence
Hartford
New Haven
7,588.671
5.235,426
4.848.021
3,076.183
2,977.52
2.064.000
1.718.107
1.929,150
916,324
5,626,530,303
551.369,103
28,842.300
12.452 093
...
Springfield
Worcester
Portland
Kali Kiver
Lowell
New Bedford..
Holyoke
Total N. Eng.
8,762.1 1-
0,768,252
6,275.218
6.882 278
8.806,431
2.012,180
2.003,786
2,201.170
029,245,044
06,842.368 —60
26,331.814 —1-9
17,857,629 -0-9
15,152,365 —1-2
12,146,182 +P5
7,038,778
5.645,107
5,187,198 -6-5
3.804,234 +45
3.361,674 -114
2,050.500 +07
1.919,940 —105
1,605.009 4-159
907.552 4-1-0
m
6,870,630,895
503.0rt4.019
29,880.500
12.262,908
7.959,103
7,446,344
7.721,028
6,386,132
4,096.234
1,980,041
2,752.916
1,798.240
675,348,065
Manstield
843.SU
Jacksonville, 111.
Jackson, Mich...
857,823
800.482
397,370
Total M. West.
:,092. 681.177
1,070,765.576
Milwaukee
Indianapolis
Columbus
Peoria
Toledo
Grand Rapids...
Dayton
Evansville
Akron.
SjJringfleld, 111...
loungstown,
Kalamazoo
Lexington
Canton
Kockford
Springfield, Ohio
Bloomington...
Quiney
Decatur
Ann Arbor
San Francisco...
Los Angeles
Seattle
Salt Lake City...
Portland
Spokane
Tacoma
Helena
Fargo
Sioux Falls
Total Pacific...
Kansas City
Minneapolis
Omaha
81
Pan!
St.
Joseph
Denver
Das Moines
Sioux (Sty
Wichita
Colorado Springs
Fremont
To. other West
St. Louie
JS'ew Orleans....
Louisfille
Houston
Galveston
Richmond
Savannah
Memphis
Atlanta
Nashville
Norfolk
Augusta
Fort
....
,Knoxville
jMacon
Chattanooga
....
Beaumont
Jacksonville, Fla
Total South...
Total
1.(110.955
1,608,009
1,501.526
1,058.863
all.
Ontoide N. Y.
— 161
—71
—3-5
+1-5
+10-1
-91
-20
-317
-21-7
4-PO
—23-9
4-22-4
035.503,451
352.240,591
101.1S7 213
69,387,0 1(
57,524,104
45.257,548
28.94s, 015
81,488.434
19.055.918
15,022,863
11,149,725
7,866,700
6,692.757
7,446,915
2,981,126
-191
—73
818.009,728 -22-4
as5.778.979 —8-7
102,197,755 -10
70,191,623 —11
60.907,794 -50
44.923,079
28,832,973 +39
22.612,821 -5-2
19.618,855 —3-0
15 529,293 -33
12.993,745 -142
7.430.200 -09
7,742.283 -13-6
6.784.988 4-9 8
3,016,000 —P8
22,914,963,384 27,941,705,231
-laO
2,144,089,838 2,331,682,846 —7-8
110,210,800
122,007,700 —2-3
46,884,935
47,633,029 —1-6
81,691,663
29.777,735 44J-4
26,660,870
28.892,783 —61
18,393,113
28,850.970 -302
24,149.034
24,717,150 —2-3
16,027,89
17,380,766 —7-8
7,457,713
8,208,443 —91
8,898,658
9.590,071 —73
8,277.636
6,698.809 4-23-6
—6-8 2,452,653,157 2,655,011,308 —7-6
+3-6
—1-5
—16-6
—2-4
:,015,525,289 2,868, 411,783 4-1-6
884,250,350 390, 736,150 -1-7
226,269,759 270, 438,316 -16-3
-f-4-4
4-6-4
4-3-5
—0-9
—1-8
-3-1
+P5
—16
—73
4-2-5
—28-6
+P8
—6-2
+7-5
4-35-6
-r-11-9
4-5-6
-t-8-8
4-23-3
-r-14-1
4-9-2
-226
--0-3
--3-7
8-5
159,866,003
132,487,865
102,028,698
72,605,700
47,733,495
52,001.852
31,786.547
30,506,766
22,631,257
9,503,900
12,182,809
9,700,188
12,082,098
12,374,167
9.099,535
8.118,521
6.967.430
7,667,317
6,205.396
4,646,590
8,314.103
3,786,600
3,401,961
166. 979,335
121, 546,805
98, 563,004
-2-1
74. 350,400
47, 299,51
4-09
52, 883,815 —1-7
30, 878,269 4-3-0
28, 572,470 --6-8
20, 823.629 --8-7
12, 437,900 -23-6
12, 317,815 —1-1
10, 710,750 -9-4
11, 080.786 4-96
10, 809,741 4-14-5
8,
367,022 4-19-5
531,301 4-78
227,939 —36
057.118 4-8-6
646,297 4-9-9
391,974 4-5-8
581,773 -75
727,654 +1-6
345,376 4-i-7
564.246 —4-1
L499.332
+1-2 4,280.343,528 4,284,288,539
—51
—4-2
4-0-1
Philadelphia
Pittsburgh,
Baltimore
Ilaffalo
Washington.
Albany
Rochester
Scranton
Syracuse
Wilmington
Wilkes Barre..
Wheeling
Binghamton
Greensburg
Chester
Kne
Reading
Franklin, Pa
Total Middle
Boston
Providence
Hartford
New HavenSpringfield
Worcester
Portland
Fall Kiver
Lowell
New Bedford
Holyoke
Total
New England.
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis.
Columbus.
Peoria
Toledo
Grand Hapids
Dayton
Kvansville
Akron
Springfield.
Ill
Youngstown
Kalamazoo
Lexington
Canton
Kockford
Springfield.
O
Bloomington
Ouincy
Decatur
Mansfield
Jacksonville
Jackson.
Ann Arbor
Total Mid. Western
San Francisco
Los Angeles.
483,162,461
111,990,553
64,951.474
47.125,486
58,139,820
87,081,394
34,271,693
10.312,784
7,732,891
4.364,315
500,719,262 —3o
98.225.766 4-140
62,519,143 4-3-9
48,108,020 —20
56,812,537 —1-2
33.058,971 4-122
33,293,257 4-2-9
8,885,697 4-16-1
8,004,390 -34
4.128,705 4-5-7
215,753,091
217.776.582
853,755,808
44)-4
Kansas City
92,309. 068
50,527, 030
33,869, 710
23,191, 714
21,891, 499
19,973. 735
9,327, 723
7,036, 781
5,359, 80S
—o-o
-9-6
857,132,821
83,435,611
51,258.131
33.222,165
24.104.930
20.850,206
359,091.484
235,138,113
130,689,509
95,470,170
83.924,423
70,627,403
38,888.142
21,432,283
14,915,180
17,811,300
18,805.823
8,431.721
3.201,790
336,663,629
213,749.345
130,178,950
98,221,814
88,304,934
71,408,398
38,058,797
26,066.325
23.849.235
18.307.301
14,336.659
7,912,619
8,264,254
4-6-7
Omaha
9,641.156
5,071.709
3.860.248
4,416,102
4,603,381
2.247.642
644,083
261.150,948
211,273 074
67,381.616
47,580,674
21.7U1.3S9
17.470.500
18,029,124
10.936.239
18.974.924
18,027.152
10,542,539
7,156,659
4.939,790
6,674,390
5,142.132
4,971,273
5.120.5S1
5.04S.0OO
3,071.302
2,065.932
3.710,540
5,891 ,826
4-3-9
-Tv'E
+3-4
-27-9
-27-8
—18-1
3,901, 782 4-18-0
1,900, 511 4-17-5
669, 625
—38
274,860, 503
210,085, 600 4-0-1
64,852, 500 4-22-8
46,233, 192 +2-9
26.880, 425 —193
15,077, 500 4-15-9
16,071, 055 4-12-2
12,720. 753 -140
15,195, 036 4-249
11,190, 729 4-7-5
11.368, 541 —7-2
6.582, 217 4-8-7
5.241, 107
6,672, 995 4-0-02
6,510, 495 -6-7
4,783, 120 4-3-9
4.352, ,346 -(-17-6
2,806, 100 4-743
8,183, 698
2,055, 464 4-0-5
—58
.(
—85
1.640, 364 4-127
483.827,766
463,487.208
8,309,188,924
9,581.868,829
3,518,545,839
4-1-4
3,637,507.858
4-4-4
1,097,727,401 1,068.322,266
020,002.265 813,515,412
403.573,082 256,992.774
183,554,330
187,278,606
113,757,455 113,721,183
76,323.000
75,280,500
78,929.875
00,112,824
64,266.953
62,697,562
97,421,202
08,133,823
54,578,315
50,543,423
45,561,650
42,872,331
29,190,558
27,205.416
24,826,735
29,046,158
31,863,979
26,551,261
22,281,390
22,299,049
19,909,277
18,242.294
20,959,738
16,668,420
17,577,000
14,180,000
13,501.548
11.871.019
8,315.838
8,255,409
14.352.576
6,858.654
2,230,838,732 1.918.753.178
-13-3 33,842.659,023 38,721,836,390
-3-3 14,126,681,827 14,345,933,610
CT" Table Clearings br
4-100
4-0-4
—28
—2-8
—11
4-22
-17-8
-37-5
-5-4
4-29-8
4-6-6
—19
4-2-8
4-1S1
4-57-0
Seattle
Salt Lake City
Portland
Spokane
Tacoma
Helena
Fargo
Sioux Falls
Total Pacific
Minneapolis
St.
St.
PauL
Joseph-
Denver
Des Moines.
Sioux City
Topeka
Davenport
Wichita
Colorado Springs
Fremont
Cedar Rapids
Total other West'rn
St. Ijouis
New
Orleans
—20
Louisville.
4-003
4-P4
4-194
Galveston
Richmond.
Savannah.
-i;;.->
Memphis
4-430
4-8-0
--6 3
--73
-17-1
4-200
-0-08
4-0-1
4-25-7
4-23-9
4-18-7
4-07
Houston
Atlanta
Nashville
Norfolk
Augusta
Worth
Birmingham
Fort
Little Kock.
Knoxville
Charleston
Macon
Chattanooga
Beaumont
4-109-
Jacksonville
4-10-3
Guthrie
Columbus, Ga
Total Southern
Total all
Outside New York.
-12-6
—1-5
1003.
$
983 975.087 1,378.981,566
New York
127.788.494
26,187.478 4-13-4
15.338.0&S 4-4-8
11,097,216 -123
13,671,136 --6-8
0,444.079 --56
8.102,921 --0-8
2,366 212 —0 2
1,705.298 4-2-1
1.115.720 4-15-9
—1-9
—
1904.
121,241,001
20,706,923
16,073,029
10,524,693
14,604,886
0,973,248
8,231 909
2,362.606
1,741.652
1.292.304
17,786,fi79
Topeka
Davenport
Worth
Birmingham
Little Kock
751,240,320
97,005,500
57,624.134
40,724,098
29,771,523
25,017.277
18,499.500
10,784,684
18,848,583
7,571,425
7,107,446
6,010,670
2,498,500
3,014,258
2,507,518
3,134,620
3.289,542
2,866.902
1,976,325
224.376.747 -22-7
725.313,950
98.535.200
69,061,029
41,738.229
28.516,318
25,254,256
18,844.500
11,134.584
12,052,499
7,696,521
7,669.165
5,863,142
3.498,300
2.957,413
2,769.235
2,015,864
2,426,375
2,560,552
1,872,356
1,756,204
1,303.682
1,315,938
060,962
1,080.461
855.054
880.674
366,213
Chicago..
Cincinnati
Cleveland
Detroit
i
470.040.481
178,321.024
90,488,960
25,839,982
-19-4 19,715,977,196 24,375,902,780
502.5S2.S21 -6-5 IJB18.738.312 1.950,141,329
5,944.360,971
Clearings at
in, or
Dec.
I
V0
New York
1903, 1902
AND
Week tnditm April
Four Months.
April
Clearings at
1904.
ALSO SAME WEEK IN
1903.
100,797.670
41,110,933
19,143.254
6,040.565
3,625,016
2,847.982
2,720,816
1,744,848
1,012,911
987.907
840.797
686.451
444.000
353,816
438,786
379,714
1.025,162
205,555
114,732,807
56,200,902
22,964.800
5,784,947
4,117.343
3.855.253
2.805.673
1,688,975
1,364,961
1,174.064
878.153
815.339
407.700
413,733
421.105
420,421
1,884,60:
1.459.345
1,227,893
1,277,412
713,988
420,871
456,697
489.900
SO.
1902.
Dec.
190L
—28-6 1.925,850.240 2,464.025.003
—121
-268
—10-6
4-4-4
—11-9
—26-1
-30
4-3-3
—258
—15-9
4-4-3
-15 8
-51
—14-5
4-42
-97
Not include d into
Not include d in to
1,167,150.553 1,597.087.802
125,172 80
5.875.300
2.457.708
Inc. or
1901.
133,140,184
44,402,763
23,985.355
5.998,903
4,201.766
4,146.655
3,135,075
1 500.000
1,341.022
1,190,572
895,100
888.110
375.500
378.651
314.918
123,804.650
47.792,356
25.793.S20
5,831.204
3.502.941
3,824.858
3110.343
1.576,580
1.312,144
1,085.764
673.526
398.100
680,610
817.603
tal.
tal.
—20-9 2,151,304.829 2,683,214.398
140,188,607
6.509.900
2.980,640
2,082,091
1,841.250
2,150.024
1,461,608
930,140
413,770
630,097
—10-7
—9-7
-175
—9-9
—20 8
-42-9
—12-6
—233
150,244,826
6.669,400
2.908,199
1.832.339
1.763.678
1,578.588
1. 369.392
878.477
4-1-7
67« 402
748.805
—27-6
181,364 488
7,892.000
2.708 239
1.556.622
1,503,257
2.144.478
1,309,344
831.638
688.882
488.830
431,498
4-13-5
518000
307.(13.")
141.436,583
159,629.721
—11-4
175 238.916
200.95.j-11.;
175,798,266
20,001,750
10,897,259
9,083,515
6.482,654
5.165,070
3,863,400
2,896.099
2,826.230
2,000,000
1,459.566
1,008,046
509,400
178,258,741
21,463,100
14,897 250
9,588,200
6,205.639
6.022,847
4,348.100
2.746.540
2.718,583
2.109,242
1,676,651
956,174
823,000
614.414
588,371
730.620
432,938
487.343
369,953
348.021
337.905
310.480
251.584
201,535
351,144
200.000
101.245
—1-4
—6*8
—26-9
—5-3
183,152,486
19.124.550
166.82ii.7U5
15.215,(191
12,810.967
9,836,058
6,712,212
5,533,806
8,750,000
2,605,102
2.338,923
1,728,031
1,572.649
879,026
578.000
10,334. (',113
Ci,2S3,070
246,861.87;
26.521.528
6,872.089
3.494,316
2,354.625
2.599.429
2,322.814
1,859,723
490.851
317,596
232,272
257.139,620
31.854,298
5.837,7 50
3.698,004
2.918.347
2.597,228
1,850.000
1.742.425
553,378
—4-0
—16-7
47,065,243
17.874.9S6
10,328.160
8,070,332
5,413,602
4.813,970
8,936.774
2,179.067
1.243,935
836,096
761,044
1,000.894
452,861
142,555
525.92s
696 408
623,64
668,546
593,170
497.982
442,590
298,941
367.739
245.984
260,000
179.34S
207,143
199.353
82,766
4-4-5
-14-2
-11-2
—12-7
4-4*0
—5-2
—12
9
4-5-4
—381
4-134
4-25 6
-4-67
—11-4
—0-8
-361
4-05
-105
4-4-4
—18-1
4-8-2
—20-3
—25-6
—30-7
1,452,500,
602.714
650,000
159,150
—19-0
Not include d
535,(553
331.214
804.002
268.908
217,002
292.017
80.000
248 950
201.270
39,267,459
18,205.284
11.617.637
6,571.586
5,677.937
4.818.606
3,811.823
1,672 .V;!0
1,486.830
878 741
1,054.645
573.024
600,321
147,849
in to tal.
—9-1
-6-8
62,705.824
99, 159,542
99,880.064
—6-7
1,758,734,069 2,228.216.086
—211
840,235,420
—8-8
4-18-8
-2-5
—13-6
00.939.164
61.662,422
13.034.505
10,974.520
0.670,22'
—92
4,004,000
4.469.305
8.509.228
8.212.970
2.220.069
1,593,010
1.408.432
943.941
4-39
—10-5
4-18-7
4-Pl
—20
4-17-3
—92
—56
—1-5
l,41(i.7o0
4-53
—1-9
1.102.849
859,155
655.505
57, 117.804
46.064.886
10.880.9-IS
10.16O.376
4.500.000
o 378.000
4.103.017
8,289.858
2.461.403
1,872,003
1.592.491
1,745 150
1,452,413
1,202 409
900,000
574,994
682.225
4-17-8
506 00m 4-82-0
754,189 —18-8
—40
499,934
i
863,697 4-1009
Publication discontinue d.
183,023 Not Include d in to
Telegraph and Canadian Clearings on page 1767.
45,384,832
17 259,498
14.881,177
6,680.480
6,081,785
4.344.836
3.782,165
2,129.516
1,797,952
968,401
4-24-8
4-17-9
57,060,276
40,196,127
14,100.578
10,468,792
5,272,753
3.390.000
4,053.748
2,311,243
4,032.204
2,168,576
2,124,277
1.632,930
946,053
1,451,691
1,200,743
899,625
1,058,020
939,055
1,030,000
612.608
480,000
730,510
774,768,982
2,974,400
2.798,472
1.450,000
1,203,518
497.483
302,205
218.865
4-0-1
—SO
43.140,862
11,921.245
10,739.504
0.100,000
3.731 .500
3.902,876
2,581,871
3,398,003
2,144,459
2, 118,918
1.391,067
1,042,756
1,430,008
1.271.799
854,088
1,079,046
797,572
3.022,80'-
—19-3
51.674,955
18,805,792
16.327.858
8.030.549
6.049.024
4.608,990
4,807,211
2.014.703
1.560 507
802,207
384 041
175.878
237.416.205
24,996.379
3.545,201
2.074,229
3,588,395
2,084,170
974,364
1,118,120
436.321
4-3-3
—109
—410
—0-3
—182
—11-6
1,124,657
1,097.847
257.620.008
28.305.952
4,091.830
4-8-9
-21-0
262.842
588,000
578.057
412.996
404,153
143.514
80.017
-141
—119
780,7 03
292 183
4-2-2
4-19-7
3(50,683
3,575,( 150
136.541
53,080
-8-5
4-370
-55
3,516,719
2,689.232
2,191.193
1,707.830
1,348.867
563,828
508.878
477.664
498.870
410.559
376.003
353,007
336.892
246,997
234.230
203,59
194,558
4-6-0
4-17-7
20 692.200
642.000
510.000
328,603
808,638
583.'oo6
420.000
250,000
tal.
96,493.277
119.712.240
2,810.200,649 3,314.464.706
864,850,403
850,430.618
—
.
1756
THE CHRONICLE.
Vol. lxxvlli.
good promise of a considerable addition to net
revenue the coming summer and fall from this excepThe developments of the week have in greater part tional source. If, therefore, crops prove favorable
Of that description was the New and there is nothing in the outlook at the moment to
been favorable.
So large an offering as 37 discourage the hope; if trade revives as it seems to be
York City bond sale.
million dollars represents, and so abundant a respons- doing with the return of warmer weather; and if the
in bids reaching over 126 million dollars, at higher Louisiana Purchase Exposition proves of benefit to the
prices, too, than have been obtained for our city issues railroads, as there are the best of reasons for anticisince November last, would seem to prove conclusively pating it will why may we not hold to the belief that
that there is plenty of capital not only ready but beg- our railroads are not facing trouble, but that better
ging for the safest kind of investments. Wall Street days await them?
affairs are consequently In the doldrums because that
No one imagines that the outcome of the war on
calm, spiritless state always accompanies a situation
In
are
scarce.
land
right
sort
has been determined in favor of the Japanese by
when opportunities of the
this caBe that only means that the earning capacity their successes on the Yalu Elver the current week;
nor that their army as a fighting force has proved
during the coming year, and in many cases durin
itself thereby as superior to the Russians as their navy
future years, of properties for sale at the Stook Ex
change are not, according to the average opinion, free previously had. It cannot be disputed, though, that
from the possible contingency of being insufficient t u the events of the week have gone far towards establishmeet the enlarged requirements for prospective In. ing for the Japanese army a reputation of good generalship and a courageous soldiery. The public view of the
terest and dividends.
teaching of the battle was clearly expressed, when
Another incident which is of an extremely favorable news of its outcome was first received, by an immekind has been the more springlike and otherwise pro- diate rise in the market price of the Japanese bonds
just suited and a decline in Russian securities; subsequently the
pitious weather in the agricultural sections
for the development of winter wheat and for general announcements that arrangements had been made for
The winter-wheat crop, taken as a a new Issue of bonds by both belligerents became a
farm work.
whole, probably starts the season short of the promise market influence also; but the earliest change in values
Besides that, the prolonged cold noted above was in response to the public verdict on
of a year ago.
spring of the current year has been one among the the military bearing at the trial of the two armies on
influences giving a setback to trade and suggesting the Yalu. There never has been more heroism and
short crops and consequently a further contraction in bravery displayed by any nation than by the Japanese
the yield of cereals, and, as a sequence, a loss in rail- i n this war. With them life clearly counts as nothing
road revenue. Every step towards the removal of when a chance of service is offered, though the chance
that fear increases confidence in the future of our means almost certain death. Their principle of
carrying industry, which we all know is the basis of service is everything for country.
With the change in
prosperity to so many others.
Official notice was given Wednesday, May 5, to Presiweather, too, come reports from the dry goods district of a revival of the orders
coming in. It dont Roosevelt by Attorney- General Knox of an arrangewas never more easy than now to fall in with the view ment with the New Panama Canal Company and J. S.
which attaches the Upas of pessimism to all that Morgan & Co., whereby Messrs. Morgan & Co. have been
The same spirit has re- designated agents to make the transfer of the money
affects the course of things.
cently been interpreting every progressive movement due by the United States to the Canal Company. The
solely through the expense account. The most con- $40,000,000 is to be deposited with J. S. Morgan & Co. at
spicuous and the most freely criticised of the under- once upon the delivery by the Canal Company to the
takings now in progress by railroads are under the United States of all the property included in the purcircumstances highly needful for the development of chase, the deposit with Morgan & Co. being accepted
the properties and are being carried forward by or- by the Canal Company as equivalent to a payment for
ganizations which can, beyond a doubt, bring them to the purposes of a delivery of the property to the United
a successful issue. When finished, the expenditures States. The President was also on the same day Inwill speedily become reproductive, adding immensely formed by the Isthmian Canal Commission that the
to the facility, economy and safety with whioh the transfer of the property on the Isthmus from the
companies concerned will be able to conduct their Canal Company to the United States took place at
business, and their new franchises will be of great 7:30 o'clook of that morning.
Secretary Shaw likewise on that day visited New York to consult with
value.
J. P. Morgan & Co. and other bankers respecting the
The opening of the Louisiana Purchase Exposition transfer of the 40 million dollars, so that it might be
at St. Louis this week suggests the Idea that it ought done "in such a way as to take the least possible
also to prove a special source of gain to the railroads in amount of funds out of
the country. " * * *
coming months. Usually our carriers have found it "It is believed that the transaction will be comneedful to spend so much in getting ready for such an pleted without causing the slightest disturbance to
event that additional net Income has not shown up to the money market."
any large extent in the reports of net earnings. All
authorities appear to believe that the St. Louis underWe have noted above Secretary Shaw's statement
taking will easily outstrip every former similar occa- with reference to tbe Panama payment money, to the
sion.
Besides, railroads have not, we think, spent effect that he expected to have it transferred to Paris
anywhere near the amount in preparation for this with as little loss of funds as possible to the money
year's Fair that they did in getting ready for the market.
By that he did not mean that no export of
Chicago enterprise. Consequently there would seem gold would be required and made on that account, bnt
THE FINANCIAL SITUATION.
to be
—
—
—
5
May
that the
7,
THE CHRONICLE.
1904.]
sum exported would
not
be sufficient
to
occasion a material rise in rates for money. Without
doubt the greater portion of the gold shipped the last
gestion of traffic at that time existing.
noon.
As we Bald last week, the very low rates ruling for
money are inducing gold shipments other than those
made on the Panama account. Possibly there has been
some movement of that metal in the interest of the JapKuhr, Loeb & Go. have announced that
anese loan.
the Hong Kong & Shanghai Banking Corporation and
Parr's Bank, Ltd., have purchased from the Imperial
Japanese Government £10,000,000 7-year 6 per cent
Treasury notes redeemable after three years at the
option of the Government and secured by an ex
Kuhn, Loeb &
elusive first lien on the Customs.
Go. have agreed to join, and a simultaneous public
London and New York.
issue will be made
The price of the issue will be 93 L M. Takahasi, the
Japanese financial agent in London, says the money
not be sent to Japan, but will be employed in
paying for the purchases being made in Europe and
present
is
—
operated to prevent that saving
have ocwhich otherwise might
in
expenses
curred.
As soon as the effects of these adverse
thus
far
improved returns of
would
seem
likely.
In the folnet, if not of gross,
lowing, in our usual form, we show the gross and net
influences
have passed away,
earnings of the Pennsylvania lines east of Pittsburgh
and Erie for the last six years the only portion of
—
the system for which
we have the data
for such a
comparison.
LINKS HAST OV
1908.
1804.
1902.
1901.
1900.
1
1899.
PlTNBtnMH.
March.
Gross earning*....
Opcrst'f expenses
shortly in
will
Tne
no such congestion and therefore the
road can be operated with greater economy other
things being the same. It is mainly on the idea of a
reduced operating cost that the hope of improved reWith trade less active
sults in the future must rest.
than a year ago, and the iron and steel intonnage, it
dustries yielding a greatly reduced
would be idle to count on any great Improvement in gross revenues. The fact to bear in
mind is that the severe winter and bad weather
year there
two weeks— $12,862,000 last week and $9,276,000 the
current week was in a sense for the purpose of discharging that obllgatioD, though none of the money
has yet been paid by the Government; indeed, it was
not until the Wednesday consultation that it was determined to place the warrant for the $40,000,000
with J. P. Morgan & Company on Monday. A press
dispatch received yesterday stated that the warrant
would probably be given to that firm Friday after- have
—
1757
Net earning!..
f
1
t
0,624.404 10,138,604
8,062,382
7,615.132
t
7,014,932
5,820,932
7,693,986
7,434,685
5,585,810
6,170,110
4,929,210
4,183,210
2,030.419
2,704,019
2,477.022
2,445,022
2,092.722
1.637.722
Jan. 1 to Mar. 31.
S r© 3a earnings
.
26,413.702 27,935.302 23.116,787 21,717,937 19,592.537 15.701,937
perat'g expenses 21,938.187 21.549.787 16,176,217 14,868,117 13,866,217 12,034,817
Net earnings..
4,485,615
6,385,616
6,939,520
6,849,820
5,726,320
3,687,120
Notb.—These figures include the Buflalo & Allegheny VaUey Divifor 1901, 1902, 1903 and 1904. In March, 1901, the earnings of
America for war purposes. He adds that in his opin- sion
net, $209,897.
this division were, approximately, gross, $623,772
January 1 to March 31 the earnings of this division in 1901
ion no other loan will be required by L Japan before the From
were $1,706,3(54 gross and $496,695 net.
;
conclusion of the war.
There was no change in official rates of discount by
The Pennsylvania return for the month of March any of the European banks this week, and unofficia
has been issued the present week, and, as was expected, or open market rates were, compared with last week,
makes an unfavorable showing.
What will no doubt easy at London and firm at Paris and in Germany.
attract most attention is that there is a loss of $673,- It is reported that the new Russian loan will be for
600 in net on the lines directly operated East of $200,000,000, in the form of a 5 per cent five-year
Pittsburgh and Erie with a further loss of $431,000 bond, issued at 98, and that the loan will be absorbed
on the lines directly operated west of Pittsburgh, by French bankers without public offering. A Japmaking a falling on* altogether for the month of consid- anese loan for $50,000,000 we have given the details
— $1,104,600.
should
be observed, however, that the loss in gross earnings
has been only $551,600 ($514,200 on the Eastern lines
and $37,300 on the Western lines), leaving over half
the decrease of $1,104,600 in net as due to augmented
operating expenses. This is a feature of great significance, reflecting the special conditions prevailing
the present year tending to increase the operating
cost of the railroads.
As is well known, the weather
has been exceedingly adverse through the winter and
spring, extremely low temperatures having ruled.
As it happened, too, in March unusually severe
floods were experienced in the Middle and Middle
Western States. It is in those circumstances, un.
doubtedly, that the reason for the heavier expenses on
the Pennsylvania Eallroad is found. If ordinary conditions as to weather had prevailed it is reasonable to
suppose that expenses would have been reduced rather
than increased. For it must be remembered that the
present addition to expenses follows an even larger
addition in the same month of 1903. Taking the
Eastern and Western lines together, the month of
March last year showed a gain of no less than $2,018,900 in gross earnings, of which $1,882,600 was consumed by larger expenses.
But in 1903 the Pennsylvania Railroad was operated
under peculiar disadvantages arising out of the conerably over a
million dollars
It
of above.
The statement
of the
New York
Associated Banks
week showed new high records for loans and deposits and an increase of $188,900 in net cash, instead of a decrease, as was estimated, the discrepancy
being due in great part to the average system, through
which the exports of gold during the week were not
fully reflected in the statement. Loans were increased
$3,246,500 and deposits were augmented $4,993,400.
last
The
requirements were increased by $1,248,350, deducting from which the gain in cash,
as above, left $1,059,450 as the decrease in surCalculated upon the
plus reserve, to $33,144,250.
reserve
basis of deposits less
funds,;the surplus
is
those of $56,212,700 of public
The bank statement
among other movements,
$47,197,425.
week^should refleot,
the shipments of $3,004,939 96 gold to Europe on
Tuesday, of which $750,000 was coin, and of $1,750,000 on Thursday; and also the transfer hither of
$3,275,000 gold from San Francisco, representing
Japanese yen valued at $3,334,350 which arrived at
that port on Monday.
A call was issued on April 30 by the Secretary of
the Treasury for 10 per cent, or about $12,000,000, of
public funds held by the depository banks, the response to which call was required to be made by May
of this
10.
It
was also stated that another
call for a
similar
.
.
...
.
THE CHRONICLE.
1758
[Vol. lxxviii.
to become payable point for arbitration operations.
Though the proexempts
from
April
30
posed
quoted
Japanese loan was
at a premium of 1-j
of
operation banks holding $100,000 or less of public per cent in London on Thursday, there was no evi-
amount would probably
about June 1. The call
its
follow,
funds, and also a few Institutions having active Government deposits where the authorized balance is not
greater than the convenience of the
Department
transacting public business requires.
The
dence in the exchange market of remittances for subscriptions thereto. The dull speculation on the Stock
Exchange tends to limit arbitrage purchases; consequently no bills result from such transactions. Gold
10 per cent of the holdings of the depositories in- to the amount of $3,004,939 96 was shipped to Paris
cluded therein on March 3, when the order for the by the steamer sailing on Tuesday and a further sum
surrender of 20 per cent of the deposits was issued, of $1,750,000 was forwarded on Thursday; yesterday
and surrenders of the funds
call
so called are to
is
in
for
be made $4,521,508 was engaged for shipment to-day, making
to the Sub-Treasuries instead of to specially designated
depositories in this city, as was the case with the call
on March
The reason assigned
3.
for requiring sur-
renders of additional public deposits at this time is
that the working balance of the Department will be
so greatly
to
make
reduced through the Panama payments as
necessary
Money on
Its
call,
reinforcement.
representing
bankers'
balances,
$9,276,448
for
the week and $28,136,602 since
April 7. Gold received at the Custom House during
the week, $107,626.
Nominal quotations for sterling exchange are 4 85}
@4 86 for sixty day and 4 8?£@4 88 for sight. Bates
for actual business on Monday were 5 points higher
for long, compared with those on Friday of last week,
at 4 8495@4 85, and 5 points lower for short and for
cables at 4 8695@4 87 for the former and 4 8720®
4 8725 for the latter.
On Tuesday long fell 5 points
to 4 8490@4 85, and cables 5 points to 4 8716@4 8725,
while short was unchanged. On Wednesday rates
were unaltered for all classes of bills, and on Thursday the only change was a fall of 5 points for short to
4 8690@4 87. The market was quiet on Friday.
The following shows dally posted rates for exchange
by some of the leading drawers.
loaned at the Stock Ezobange on Tuesday at £ of 1
per cent, the lowest rate since November 1894. The
amount loaned was moderately large and the low rate
was chiefly due to the instructions by the lender to his
broker to loan "at the market." The highest rate for
per cent on Monday, and after Tues
the week was
day, when the daily range was from 1£ to 1 per cent;
the average for the week was about 1£ per cent. Banks
and trust companies quote 1£ per cent as the miniFBI.,
MON..
Tubs.,
Wed., Thou., FBI..
Apr. 29. May 2
May,
mum. Time loans were firmer for short dates this
May i, May 5. Hay 6.
60 days 4 8a
86
86
86
86
86
week, though the business reported was small. Quota- Brown
Brothers
4*8
Sight
88
88
88
88
68
4 85*
tions on good mixed Stock Exchange collateral were Baling,
85*
85*
5 60 days
85*
66*
85*
Magoun & Co Sight.. 4 8*
88
88
88
88
88
British
60 days 480
86
88
86
86
66*
2i per cent for sixty and 2^ for ninety days, 2^@3 for Bank
No. America.. I Sight
4 88
08
88
88
68
87*
four, 3®3£ for five to six and 3£@4 for seven to nine Bank of
8a
60 days 4 8fl
86
88
86
86
Montreal
Sight
4 88
88
88
88
88
83
months. The offerings of commercial paper were Canadian Bank 60 day» 480
8«
86
66
66
88
of Commerce., Sight
488
88
88
88
88
88
meagre, while the demand was more or less urgent, Ileidelbnch, lok- 6" daye 486
88
88
86
86
86
elheimer& Co. Sight
4 88
88
88
88
88
88
especially from banks in the Interior. Bates were 3f
Lazard
60 d«.ys 4 88
86
86
86
86
86
Freres
4 88
84
88
X Sight
88
8*
88
4 per cent for sixty to ninety-day endorsed bills re- Merchants'
Bk. J 60 days 4 86
86
88
86
86
8A
of Canada
Sight
4 88
88
88
88
88
88
ceivable, 3$@4£ per cent for prime and4^@5 per cent
The market closed on Friday at 4 8490@4 85 for
for good four to six months' single names.
long, 4 8695@4 87 for short and 4 8715@4 8725 for
The Bank of England minimum rate of discount cables. Commercial on banks, 4 8465@4 8475 and
remains unchanged at 3 per cent. The cable reports documents for payment, 4 84@4 85.
Cotton for
discounts of sixty to ninety day bank bills in London payment,
4 84@4 84£;
cotton for
acceptance,
3-16
per cent. The open market rate at Paris 4 8465@4 8476, and grain for payment, 4 84f @4 85.
2,!@2
is 2£@2f per cent, and at Berlin and Frankfort it is
The following table indicates the amount of bullion
According to our special cable from
2i per cent.
London the Bank of England lost £663,535 bullion in the principal European banks.
during the week and held £33,821,920 at the close of
May 5, 1904.
May 7. 1903,
Bank of
the week. Our correspondent further advises us that
Gold.
Silver.
Total.
Gold.
Silver.
lo'al.
the loss was due to the import of £36,000, of which
£
£
£
£
33,8^1,921
£30,000 from South Africa and £6,000 from Australia, England... 31,821,920
35,858,162
35.85-M62
Frai ce
99,214/ 27 44,728,101 14*,942.788 99,780,618 44,480,396 144,241,014
to exports of £50,000 to South America, and to ship- Germany*. 33,656,000 11,825,000 45,481,000 32,365,000 11,373,000 43,737,000
85,598,000
8,418,000 04,016,000 75,472,000'
8,073,000 8*,545,000
ments of £650,000 net to the interior of Great Britain. Russia
H
3,
)
\
.
1
5
J
X
j
X
)
@
I
.
4
.
X
.
.
Aus.-IIun
Spain
The
dull
week and
12,909,000
19,870,000
34,552,000
45,905,000
14,4^6,000
13,C88,000
20,355,000
17,699,000
3,934,1- Oo]
2,266,400
6,5tS,700
3,044,667
1,522,38:-
60,04",00C
S^lW.^OO
25,879,800
Nether l'ds.
5,466,300
0,50H,9CO
12,020,200
fluctuations were within a very
Nat. Belg.'
2,994.e67
1,497,333
4,492,000
narrow range not only for sterling but for Continental
exchange.
that the
Italy
47,139,000
14,676,000
22,060,000
extremely
foreign exchange market has been
this
.
The reason assigned for the inactivity is
demand for remittance was satisfied by ex-
58,993,000
34,861,000
19,9f5,400
10,168,e0O
4,567,000
Tot. week.. 344,616,514 109,037,134 l">4,2.>3,04* 828,055,847 107,670,*2W 486,720.178
Tot. prev... 343,565.960 109,813,571 468,379,637 329,953,872 10»,0ai,P6( 43-.01S.822
* The division (between gold and
silver) given in our table or coin
and bullion in the Ban* of Germany and the Bank of Belgium la made
from the best estimate ve are able to obtain ; In neither case 1b It
aiaimed to be aoourate, as those banks make no distinction In their
weekly returns, merely reporting the total gold and silver, but ire
relieve the division we make is a close approximation.
The following ^lves the week's morement of money
and as these shipments were chiefly in
few bills were sold against the gold
exported and the ourrent demand for drafts was sufficient to absorb these offerings of bills which were
to and from the Interior by the New York banks.
drawn for the reimbursement of shippers of gold.
Until the transfer of the Panama money shall be comReceived bv
Shipped by
Week ending May 6, 1904.
Net Interior
2f. T. JBankg N. T. Banks.
Movement.
pleted, bankers do not look for much activity in the
ports of gold,
lieu of exchange,
market, for rates for sight sterling are expected to be
maintained at figures close to the gold-exporting
$ 8.179,000
Total gold and legal tenders...
l.e47.000
$3,783,000
1.132,000
Qaln. $4,390,000
Qain.
615,000
$9.82'f,000
$4.»15,O0O
Gain. *4,9U.000
May
7,
THE CHRONICLE.
1904.]
1759
With the Sub-Treasury operations and the gold an army outnumbered by
exports, the result
Week ending May d,
as follows.
is
1904.
Out of
Net Change in
Banks.
Bank
28,300,000
$4,615,000
31,300,000
$36, 126,000
$31,218,000
$9.826,CO0
Banks Interior movement, as above
Sub Treas. oper. and gold exports
Total gold and legal tenders...
Into
Bank*.
THE BATTLE AT
It
would not be
7
Holdings.
Gain. $4,911,000
Loss. 6,000,000
Loss.
$69,000
HE YALU.
strictly correct to say
that the
Yalu crossing by the
defeat of the Russians at the
Japanese, last Sunday, marked a new chapter in the
campaigD. It was, on the contrary, merely continuance, on precisely similar lines, of all that has gone
was a logical sequence, both in plan and
in operation, to the Japanese maccouvres of the past
three months ; and, unfortunately for Russia, it was
an ( qually logical repetition of the Russian policy and
before.
It
on those previous occasions.
The Russians have been possessed, not only since
the war began but ever since it became a possibility ?
with a determination to regard the Japanese as worthy
only of contempt, and their actions diplomatic and
have been based on
military, offensive and defensive
They trifled with
antagonists.
their
such a view of
Japan's State communications until Japan was obliged
to warnthe Russian Government of the consequences.
In spite of this plain warning, Russia made no intelligent attempt to mass her fleet and army, and was
found wholly unprepared when, on February 7, Admiral
Togo pounced upon the war ships at Port Arthur; so
slight had been Russia's preparation of her army
forces at the point of action] that the first and inevitable decision of the general commanding was that
the Japanese army's advance across Gorea could not
be effectively opposed, and that the only safe policy
open to Russia was to retreat up the railroad, in the
direction of Manchuria, and draw the Japanese forces
into a weaker position.
This same Russian tendency to underrate and despise the capacity of the enemy, asserted itself at last
week's close, when the Russian army on the right bank
of the Yalu appears to have assumed that the Japanese would cross and then rest quietly to await developments. On no other supposition can the Russian
general's policy be explained.
He had the option of
two intelligible strategic moves—opposing the Japanese vigorously at the Yalu crossing, or of keeping
barely in touch with the enemy and retreating in
order towards the main force of General Kuropatkin.
What he actually did was neither the one thing nor
tactics
—
the other.
By
—
accounts, General Zassalitch did
not succeed in harassing the Japanese forces as they
all
crossed on their pontoon bridge. No doubt his failure to do this was a consequence of his enemy's superior equipment in artillery, of which much has
since been heard.
seem
does
not
sian
general
But
to
as
prompt preparation
tacked nor
formidable armament
appealed to the Rus-
this
have
an additional
for
retreat.
withdrew, but allowed
flanked, dislodged,
and
argument
He
neither
himself
to
for
at-
be
by the superIn his report to Gen.
Kuropatkin, he insists on this fact, that he was overwhelmed by a very much stronger antagonist; and the
same explanation has been sent on to St. Petersburg.
But the unprejudiced outsider will have two criticisms
to make on this sort of apology: First, the business of
virtually routed,
ior forces of the Japanese.
its
antagonist
la
either to
overcome superior force by the dash of an assault, or
else to keep out of the opposing general's way. Second,
the faot that Gen. Zassalitch was outnumbered, and
had not been reinforced by Gen. Kuropatkin, proves
that prompt withdrawal had been expected by
the commanding general. From any point of view,
the Russian general at the Yalu is convicted of blundering tactics. His best excuse is that his position
must have been intrenched, and that he did not expect so desperate and prompt an assault on an
But here is the same old
intrenched position.
propensity of undervaluing an enemy who makes no
mistakes in calculation on his own account.
The plan of campaign and its probable results are
more distinctly indicated in the light of this week's
events. Entering from Gorea, the Japanese forces are
now driving the Russian army from the neighborhood
If, aB has been reported, a successful
of Port Arthur.
landing is effected at Ntu-Chwang, a second Japanese
army will approach the Russians from the west while
the Oorean detachments are moving from the east.
The
result to be expected
up the
is
the rapid retirement of
being thus
taken on both flanks, and the consequent siege of
Port Arthur from the land side, with its probable
capture. This siege appears from latest advices to
the Russians
railway, to avoid
have begun already.
Such a prediction
necessarily assumes
superiority of the Japanese in
continued
the campaign ma: ceu-
Russian general were to
Inflict a severe defeat on the Japanese in a pitched
land battle, the plan of campaign would be altered, if
At the moment there do not
not entirely upset.
seem to be in sight good grounds for any such expecIf General Kuropatkin had been strong
tation.
enough to fight the Japanese troops on equal terms,
he wt-uld either have obstructed their landing in
Gorea or their passage of the Yulu. The first he did
not do and the second he had ordered his subordinate
generals not to attempt. If he did not feel competent to oppose the Japanese at either of these two
points, it may be doubted what resistance he could
oppose to a similar movement on the west. The
truth appears to be that the strength of the Russian
forces at the front has been greatly exaggerated. The
Japanese can hardly exceed 200,000; in which case
the Russian complaints of being outnumbered at the
Yalu would, on the presumption of a Russian army
of 400,000 men, be utterly absurd.
Indications are
that they have not more than one-half that number.
vres.
If,
for example, the
The question
naturally follows, what
is
to be the
upshot of these recent events and their possible
?
Is Russia to keep on fighting indefinitely,
and will Japan merely hold the seacoast and threaten
any Russian force that descends from Manchuria ? It
may be doubted. If Port Arthur falls, the Russians
must admit defeat and allow King Edward or the
Ministry of France to arrange a settlement.
War between powerful States is not now-a-days allowed to
lapse into guerrilla skirmishes, or to be kept up, after
the fight is won by the one side, in the vain hope that
something will "turn up" to help the vanquished
party.
Russia had her opportunity to make ready
during the long weeks of controversy since last July.
It neglected the opportunity and must bear the consequences. Neither Japan nor the rest of the world
is likely now to wait while Russia laboriously repairs
its blunders of the past.
final
sequel
THE CHRONICLE.
1760
THE SUCCESS OF THE NEW YORK
CITY BOND SALE.
(Vol. Lxxvni.
tne concentration of an unusual amount of
Government deposits In the banks at this center by
the Secretary of the U. S. Treasury in preparation
gestion
is
The renal ta attending the sale of the $37,000,000 for the $40,000,000 payment required in connection
New York City 3£ per cent bonds on Tuesday of this with the purchase of the property of the Panama
week shows that the city authorities did not misjudge Canal Company. Possibly ease will prevail in money
the condition of the bond market. Taking every- even after the payment referred to has been comthing into consideration, the sale must be regarded pleted, but at least the conjunction of circumstances
a success, and it justifies the course of Comptroller referred to was unusual, and the Comptroller must be
Grout in making an offering of such an unprecedent- considered as having acted wisely In having availed
of it.
edly large amount of bonds.
The belief has prevailed quite widely that the city
The ten-year bonds were placed on an interest basil
interest
had no use for so large an amount of money as the
of 3*48£ per cent and the 50-year bonds on an
3
terms
than
the
better
This Is
proceeds of this $37,000,000 bond issue will provide.
basis of '46 per cent.
obtained by the city at its two previous sales this year,
the one in March, and the other in January, thus fulfilling the Comptroller's expectations in that regard.
In March the city disposed of $3,000,000 of bonds, but
had to pay 3*495 interest, and in January it placed
$10,000,000 of bonds at an interest basis of 3 49 per
cent.
basla
It
true the present sale
is
than the
sales
ever, tnat fact
ience
can
is
borrow
recently (aee
in 1903
of
at a higher interest
How-
and 1902.
The
city's
exper-
other municipalities.
None
signifies nothing.
like that
as
made
is
cheaply
Chronicle
as
of
before.
We
showed
March 36 1904) that the
State of Massachusetts has had to pay gradually rising
Accordingly the city authorities have baen criticised
in certain quarters for making such an exceptionally
large offering.
We are among those who think that
the city officials are to be commended for having
guarded against the contingencies of the future. The
city is not only carrying on an extensive system of improvements and new works, requiring heavy expenditures for their completion, but what is of equal importance In a consideration of the matter its total
of temporary loans has been of more than ordinary
proportions.
This latter feature has not received the
attention it deserves.
The balance of temporary loans
remaining outstanding has been steadily growing In
magnitude the last few years. D arlng the spring and
summer months the city is always a large borrower on
—
—
bond] disposals the last two
years.
The truth is, investors are not buying municipal bonds and for that matter railroad bonds revenue bonds in anticipation of the taxes, which are
either on such a low income basis as formerly.
not gathered until later In the year. But as these
The bids for the $37,000,000 bonds aggregated taxes come in, the temporary loans are paid off and
$126,071,950. la some reports the aggregate has been by the first of January the city, until the last few
stated as high as $200,071,950, but this result was years, usually found itself entirely free from such
reached by counting double two proposals put In for debt. How the situation has changed in this respect
the whole $37,000,000, involving a duplication to the is indicated by the following table which we reproextent of $74,000,000. The propositions comprised a duce from our State and City Section, with the figThe two bids referred to were ures for the 1st of January 1904 added.
total of $200,071,950.
Total
Sinking
Funded Temporary
in the alternative form as required by the new law reLoans.
Debt.
Funds.
Net Debt.
Debt.
*
8
$
*
$
cently passed allowing the putting in of "all or none"
92,718,S73 230,444.622
..823,165,896
Jan. 1, 1898
7,600 818,162,995
99.060,292 244,220,485
Jan. 1, 1899
.348,269,127
7.600 843,276,727
bids, but conditioned upon the putting in of a bid Jan. 1, 1900
868,104,807
7,600 368,111.907 105,435,872 262,676,035
....889.906,899
2.107,600 392,013,499 112,288.129 279,725,370
Jan. 1, 1901
giving the price at which the same party was willing Jan. 1, 190S
....416,262,284
9,912,600 426,174,824 117,399,480 308,775,844
Jan. 1, 1903
....488,603.428 22.467,800 460,971,028 1*6,742,949 334,228,074
....485,063,094 41,748,600 626,811,694 150.8*3,603 375,918,091
to accept an award of "all or any part" of the issue. Jan. 1, 1904.
Messrs. Harvey Fisk & Sons, Speyer & Co., Knhn, Loeb
It will be seen from the foregoing that in 1898, also
& Co., the National City Bank andVermilye & Co. in 1899, and again In 1900, there was on the 1st of
made a joint bid of this kind in the double form and so January substantially no temporary debt; on January
did the National Bank of Commerce and the First Na- 1 1901 the amount was $2,107,600; on January 1 1902
tional Bank of this city, acting jointly. Obviously these $9,912,600; on January 1 1903 $22,467,600; while for
two syndicates In making double proposals did not con- January 1 1904 the sum was no less than $41,748,template an offer for $74,000,000 bonds but only for 600. We understand that a considerable amount of
$37,000,000— which, indeed, was all they could get, the temporary loans mature the present month and in
the city offering no more. However, even at $126,- June. The proceeds of the present week's large sale
071,950 (that is with the duplications eliminated) the will be Indirectly available for taking up such loans.
aggregate of the sales cannot but be considered as sat- The oity keeps separate books and accounts covering
isfactory.
the various purposes for which bonds are issued, but
The Comptroller chose an opportune moment for the cash all goes into the oommon treasury, and can
floating the bonds.
Barely has the money market be drawn against for any of the city's needs, the
been in such a plethoric condition as at the present proper adjustments being made on the books as the
time.
Call money can be obtained on the Stook Ex- several accounts are opened or closed.
From all this
change at 1@1£ per cent per annum, while time it will be seen that the Impression that the money from
money is also quoted at extremely low figures 2£ per the present week's $37,000,000 sale will lie idle until
cent for ninety days, 2£@3 per cent for four months, 3@ the time comes to use it for the purposes for which
3£ per oent for five to six months and 3£@4 per cent for the bonds are to be issued is not well founded.
seven to nine months. The causes that have produced
It should also be remembered that we have now
the state of congestion existing are exceptional and pe- reached the season when the oity is ordinarily
culiar, and It Is by no means certain that the continu- obliged to borrow enormous sums of money to meet
ance of the prevalllngjextremely low rates can be count- its ordinary expenditures, pending the collection of
ed upon for any great length of time. One of the main the taxes which, as already stated, do not come In
(though not necessarily the only) causes of the con- until much later in the year. To have started the
rates of interest
—
on
its
—
—
j
May
7,
THE CHRONICLE.
1904.
year with temporary loans ol $41,748,600 and to have
augmented
this large
sam by
still
larger Issues
of
1761
fiom "all or none" bids until the law
is furtner
bid*
unconditional
of this
amended so as to allow
revenue bonds In anticipation of 1904 taxes, without kind.
There is another particular in which existing
making any provision for an extensive new bond issue
The
such as that now placed, thereby leaving the city com- methods might with advantage be changed.
pletely at the mercy of the money and investment provision allowing bonds to be issued in small denominations as small as $10 should be eradicated.
markets, would have been decidedly imprudent.
As is known, the present sale was made under a new The idea that there are large numbers of people that
method for receiving bids. It Is the first public offer- want $10 bond issues has been thoroughly exploded.
ing since the passage of the law allowing parties to put The smallest successf al bidder this time bid for $50.
in "all or none" bids; that is, name a prioe at which There was another bidder who wanted ten $20 bonds,
they would be willing to take the bonds if they should but fortunately for the city he did not fix the price high
be awarded the whole Issue. Most persons no doubt enough to get them. These small bond issues are a
imagine that the new law means a return to the con- positive nuisance and add greatly to the work in the
As we have before pointed out,
It, however, means Comptroller's office.
ditions prevailing prior to 1902.
nothing of the kind. We give below thejsection of the there is just as much bookkeeping work connected
law relating to this matter as it now stands. The with the issue of a $10 bond as with that of a $1,000
words in italics constitute the new part added, this or $10,000 bond. Interest on a $10 bond is 35 cents
beiDg the only particular in which the old law haB per year; and as payment is semi-annual it is necessary to send out a cheok for 17 cents twice a year.
been changed.
Moreover, the cost of preparing a $10 bond is also
It shall be a oondltlon of sale of suoh bonds and stoofes, and the advertisement calling for proposals therefor shall so deolare, that every just as heavy as the cost of a $1,000 bond.
And this
bidder may be required to accept a [portion of the whole amount
is a very important item in the matter of bonds of
thereof bid for by him at the same rate or proportional price as may
be specified in hia bid; and any bid which oonfliots with this oondltlon small denominations. With the plate already prepared,
shall be rejected; provided, however, that any bidder offering to purit costs, we are informed, about $2 50 to turn out the
chase all or any part of the bonds offered for sale at a price at par or
higher may also offer to purchase all or none of said bonds at a differ- first bond and about a dollar for each subsequent bond.
ent price, and if the Comptroller deems it to be in the interests of the city One to two dollars do not constitute a very large
so to do, he may award the bonds to the bidder offering the highest price
for all or none of said bonds; provided, however, that if the Comptroller item when one is dealing with a $10,000 or a $100,deems it to be in the interests of the city »• to do, he may reject all bids.
000 bond, but they form a large proportion of the
Careful reading of the foregoing will show that the money realized when one is dealing with a $10
amended law does not admit of unqualified "all or bond.
none" bids, such as were permissible prior to 1902.
It is only necessary to state these facts to demon*
*
*
It say 8 that "it shall be a condition of sale
strate that, no matter what the price obtained, there
to
accept
a
portion
that every bidder may be required
Is an absolute loss to the city on every bond of a small
for
by
him
at
the
of the whole amount thereof bid
denomination put out. Bidders for small amounts are
in
may
specified
proportional
price
as
be
rate
or
same
now rare, but the matter is of importance because it
his bid/' but he "may also offer to purchase all or has beoome somewhat of a fad to send in bonds of
none of said bonds at a different prioe." It is only large denominations at holiday time and have them
by complying with the first condition, namely by put- converted into small pieces and then to distribute these
ting in a proposal to take the whole amount of bonds small bonds as gifts among friends or patrons. The
or any portion thereof, that he becomes entitled to recipients feel flattered by the gift, for it allows them
make an offer to purchase "all or none" of the bonds to lay claim to the ownership of a New York Oity
at a different price. This distinction should be clearly bond for $10.
kept in mind.
There were two " all or none " bids this time, and
THE
OF RAPID TRANSIT.
neither bid was successful. One of the two, however,
In anticipating the future needs of the city for tranwas unfortunate enough to get a part of the amount
under the alternative bid compelling him to agree to sit facilities by laying out new subway routes, the
take a portion of the issue.
The arrangement in Rapid Transit Commissioners have acted with wisdom
question in this instance worked to the decided dis- and foresight. It is one of the advantages of a conadvantage of this particular bidder. The $37,000,000 tinuing body, as this Commission was oonstituted ten
of bonds comprised $5,000,000 of 10-year assessment years ago, that it can look beyond the immediate presbonds and $32,000,000 of 60-year ordinary bonds. A ent and anticipate the certain growth of New York.
10-year bond would not in any event command as good It is only recently that people generally have awaka figure as a 50-year bond, and the fact that in this ened to the fact that the transit problem is likely to
instance the 10-year issue was an assessment bond be always with us and that constant foresight will be
made it particularly undesirable. An assessment bond required to meet the needs of our growing population.
of New York City is just as good as any other kind of For at least as long as those now living can foresee,
bond, but in many other parts of the country assess- the growth of New York will keep pace and perhaps
ment bonds are decidedly inferior; and hence a prej- more than keep pace with that of the country as a whole.
udice exists against assessment bonds generally, which This means that a constantly larger number of people
prejcdice it is very hard to overcome. Nevertheless will be doing business at the southern end of Manhatthe bidder referred to, having agreed under his alter- tan Island and that the great majority of them, in
native form of bid to accept any portion of the whole order to find living accommodations, will have to be
the rushed down and up town on parallel lines every morn$37,000,000, was
given
$4,562,650 out of
$5,000,000 of assessment bonds offered. He did not ing and [evening. There are probably few who have
get a single one of the 50-year bonds. We advert to not given special attention to the problem who comthis feature because there is a lesson connected with prehend the fact that the growth of New York at the
Obviously the city cannot expeot the best results rate of over 90,000 per year creates every five years a
it.
—
—
FUTURE
—
rp
THE CHRONICLE.
1762
population nearly equal to that of the city of Baltimore. It Is the problem of providing for this increase
which the Ripid Transit Commission and the managers of our transportation lines have to face, and
not surprising that at times their plans
pace with events.
is
fall to
it
keep
Transit Commission has anticipated the
most obvions need of the immediate fatare in provid-
0! equal import,
new
station of the
Pennsylvania Railroad, when it shall be completed.
The Commission have acted none too soon in providing for the construction of proper subways at the
same time that work Is going on on the Pennsylvania
tunnel under the river. The other routes and connecting links which have been suggestedjby the Com.
mission are of importance to perfect the entire system,
Vol. lxxviii.
would, of course, be compensated to some extent by
the effect of high rentals near the stations in driving
people back to the less convenient points away from
them, but a much more even and more satisfactory
distribution
of
population would undoubtedly occur
cinder a general system of
The Ripid
ing for a subway oa the East side.
ance are the connections with the
|
five-oent fares
with
free
transfers.
What
in
Is thus true of the distribution of population
regard to residences is equally true in the business
Everything which tends to gridiron the city
with means of transit which are cheap and evenly distributed, will tend to give equality to real estate
values on the one hand and to permit the unhampered
growth of the city on the other. New York has occasionally loit some branch of commerce by the high
cost of doing it here in comparison with some other
point.
It is hardly conceivable that the city should
lose Its primacy as the financial and business centre of
the country, but there might be a tendency to drive
away certain interests and industries if office rant
became too expensive and transportation to distant
district.
but the Eist -side tunnel and the Pennsylvania Railroad connection are the items in their project which
stand out most strikingly as the immediate need of
the future. The Commission has done wisely in so
arranging these routes as to make it possible for bids resident points too difficult.
The transportation
to be made by the constructors of the present subway problem, therefore, is not simply a local question or a
as well as by the Metropolitan interests.
matter of a few pennies to the poor man; it is equally
The question who shall do the work of con- an eoonomic question of the broadest scope as affectstruction, however, and what shall be paid for ing the future of the city atd the country.
this work will appeal less directly to the average
patron [of the "transit lines than' the question what
BUSINESS EDUCATION
sort of service is to be given.
Upon this point the
off ar of the Metropolitan interests to furnish a conWe have just received from the press of Harper &
tinuous ride at a single fare, from home to office, over
Bros,
a book bearing the above title, and which conany part of the Metropolitan line, will appeal very
strongly to those who count the value of their pennies. tains a series of papers written by the 1 *te Charles
Waldo Haskins. The book has been edited by Profes1 1 the long run transit problems are decided by the
interest of the masses, and their voice is likely to be sor Frederick A. Cleveland of the Wharton (School of
heard in strong terms in favor of such ajproposal as Finance and Commerce of the University of Pennthe Metropolitan Interests hive been able to make. sylvania, who also has written an introduction to the
A ride for five cents from one's home in Northern book and prepared a biographical sketch of Mr.
AND
ACCOUNTANCY*
M .nhattan to
the
new subway, down the subway
to
the business section, and from the subway station to
one's office, is a tempting proposal, and one which
seems likely to enlist much popular support. When
to this is added the facility for travelers from outside
the city to enter at the Pennsylvania or New York
Central stations and to connect with any part of Manhattan by both surface lines and subway until their
destination
is
reached,
all for
a single fare, the city
is
within sight of the cheapest and most efficient system
of transportation in the world.
The importance of proper transit facilities in New
York is as great perhaps from the broad point of view
Hasklns's
life.
of addresses
Most
of the papers
made by Mr. Hisklns
Included consist
before public bodies
though there are also some
essays Vnot previously published, such as the essay
on3"Accountancy in Babylonia and Assyria," which
of one'kind or another,
occuples^fifty pages.
Mr. Hiskins led a very active life, as our readers
know, and his utterances always attracted much
attention |by reason
of the scholarship and deep
thought that marked them all. These characteristics
are observable in the book before us, ensuring ior it
an extensive reading among those interested in the
and also among his many
As concerns his knowledge of accountancy,
of the economic interests of the city as from that of friends.
tt
is enough to say that in 1893 he and his colleague,
the individual shop girl, clerk or laboring man who
Mr.
Sells (who subsequently associated themselves tohave to ride every day from their homes to the places
where they work. A cheap and quick system of gether under the firm name of Haskins & Sells) were
transportation to all parts of the city has an impor- appointed expert accountants to overhaul the accounttant effect upon the value of real estate and the city's ing system of the Government of the United States.
future development. The five-cent transfer proposal The system then devised is In practioe the present
Furthermore, on the educational side Mr.
will have a tendency to distribute population much day.
more evenly than would a proposal to off or transporta- Haskins played a prom'uent part in the organization
tion for five cents only at Isolated and widely sep- of the School of Commerce, Accounts and Finance
arated points, at the subway stations themselves. of the University of New York, which was established
If transportation from points several blocks removed In 1900.
Professor Cleveland In his introduction tells us that
from the subway stations to points similarly removed
volume has been prepared not alone as a memorial
he
business
section
could only be obtained by payin the
Better warrant Is found in the f*ct
ing two or three fares, there would be a tendency of to Mr. Hisklns.
population to congest near the subway stations and of that it represents the mos advaoced though' of th03e
property to rise to a higher value there at the expense
of that which was more distant.
This tendency
-mbj ct of the discourses
*
Business Eduoatlon and Accountancy. ByCharlee Waldo Haskins
E.llted by Fredorlok A. CleveUnd, Ph. D. Harper
A.., L. H. M.
O. P.
&
Brothers,
New York and
London.
MAY
7,
THE CHRONICLE
1904. J
]763
not actively engaged in the teaching profession on
the subject of business training and on the possibility
of raising high professional standards in what may be
called business specialties.
We should say that this
statement was entirely correct, but Professor Cleve-
the hierarchy of learning as exalted as in the past has
been assigned to the divine or to the man of letters,
and to him this was not an idle dream, for he was
among those who had climbed to eminence and was
drawing others after him.
land soars rather high when he talks of the possibilities that may be accomplished in this way through
education and special training. Here, for Instance,
There is a measure of truth in this, but the remarks
would be more likely to carry conviction if they were
a little less laudatory
Prof. Cleveland does not ordi-
and we suppose the eulogistical style of utterance adopted in the present instance
Many of these subjects suggested are susceptible of
is due to the high regard he entertained for Mr.
still more minute subdivision for scientific researcb.
is
one paragraph which we find in the introduction.
The
art of investment, for example, will never reach
its highest level till special research has been applied
Real- estate investments,
to its narrowest interests.
municipal investments, insurance investments, investments in private companies, etc., have already been
differentiated in praotice; and practice will profit
from scientific specialized research in the same way
that General Surgery has profited from Eye and Ear
Surgery, Oral Surgery,
Surgery, etc.
Nasal Surgery, Abdominal
Cleveland has any notion that what he
calls the art of Investment can be reduced to an exact
science in the sense that the investor can refer to
If Professor
treatises or textbooks
and get
all
the knowledge need-
make safe and lucrative Investments, we fear
he is doomed to disappointment. Experience is
ful to
that
a factor of equal importance with education, both in
the investment field and the business world. Education, of course, is the
sum
human experience, and
avoid many errors and pit-
of
we are taught to
that would otherwise darken our path.
through
falls
it
But
another kind of experience that cannot be
gained from books or instilled by education. We
there
Is
personal experience
—personal
and
personal mistakes.
These are the foundation upon
which human success is built. Chauncey M. Depew,
in his speech in Brooklyn on Saturday, April 23d, on
refer to
failures
the occasion of the seventieth anniversary of his birth,
made a happy reference to this same point. He expressed himself In these words:
"Experience teaches
that the guide-posts for a career are
its
disappoint-
narily write in this vein,
Hasklns.
Mr. Haskins's papers are not all devoted to Accountancy. A very instructive paper in the series Is one on
Business Training, and in the present review we shall
refer to this rather than to any of the other essays,
treats of a subject In which everyone is interand one which no one can fail to understand.
Speaking of the prejudice at one time felt against
business as a pursuit, he points out that this prejudice is a bequeathment of antiquity; it is an inheritance from an age of social and political servility. At
that time business was looked upon as a matter of exchange between families or groups, in which it was
taken for granted that any advantage gained by one
group was necessarily at the expense of another. Industry, on the other hand, was the calling of slaves, and
was unworthy of serious contemplation by freemen.
To-day all the errors upon which these prej udices repose have been exposed and denounced to the world.
Religion has long proclaimed it the duty of every man
to labor, and has declared Industry an individual obligation and a social necessity. Property rights have
come to be grounded upon industrial activity rather
than upon conquest or mere possession. We are in a
since
it
ested,
way, says Mr. Haskins, to break the last link of
this chain of ancient servility.
We are learning that
the pursuit of wealth by means of industry is an occupation quite as ennobling, and may be based on a culture as "liberal," as any other.
"Socially, the seeker
after riches obligates himself to satisfy the needs of
his fellows and to augment the collective power of the
nation; religiously, he fulfils an obligation; morally,
opposes idleness, that mother of all vice, and worthily
fair
ments and the real blessings in life are its losses. I
have hardly ever met with a successful man who has
not confessed that a failure to accomplish what he
most wished for and which seemed to be the end of adds his own contribution to the public welfare. Who
his hopes turned him into the path where he won his can do more ? To-day what man dare say that, by
triumphs. I know in my own case that my greatest virtue of his occupation or profession, he is morally
disappointments and severest blows have been the superior to a laborer or an active business man ?"
greatest blessings."
The problem of wealth from the individual point of
The same tendency to overstatement is noticed in view is then considered. What is wealth or fortune?
the biographical sketoh furnished by Professor Cleve- It Is an aggregate of things useful that has been acland.
The following extract must suffice on this quired by an individual. As the possessor and propoint.
prietor of useful things, the
No better evidence of this high professional character of Accountancy could be given than in the resalts of Its application to the large affairs of today.
It has taken a place by the side of Law.
The old
professions ha> e been tr e product of slow growth.
The cultures known as Theology, Medicine and Law
have required centuries to develop.
Engineering,
Dentistry, and some of the more modern professions
have reached a plane of recognition more quickly;
but the profession of Accountancy in two decades has
risen from a place of almost menial service to one of
the highest respect and honor. From the place of
clerk and bookkeeper, the accountant has come to
take rank with those old and time-honored professions and this, as a necessary complement to modern
financial and industrial progress.
*
*
*
As he
himself to their acquisition becomes a more useful
individual
who
devotes
man.
Wealth gives to the individual the power still
further to multiply or to produce things useful to
himself or to others, and thus to increase the sum
"goods." Through voluntary co-operation
based on consent and peaceful exchange of goods and
services, wealth places at the disposal of the Individual possessing it a certain amount of natural force
and human service a power which, like all other
powers, may be used well or ill, but which in itself is
an increase of opportunity and therefore a good. The
possession of wealth is doubtless an occasion and a
means of evil-doing of satisfying the pride and other
(Mr. Haskins) looked out on the future, he saw for vices of him who possesses it; it is also an occasion
the man of affairs for the directors of those mighty and a means of well-doing of satisfying the most
Interests which make for human welfare
a place in noble, the most charitable inspirations of the soul.
—
—
—
total
of
—
—
—
THE CHRONICLE
1764
The
pursuit of riches, then, by means of commercial
enterprise, Is not to be disdained, and the function of
man
not to be looked upon as beneath
other social functions. The man of affairs has need
the bnslness
Is
for as
much
much
character, as
Intelligence, as
much
force of mind, as
much judgment,
as
he who follows
One
society fromjthis new
any other profession.
[Vol. lxxviii.
[In our annual article on the "World's Gold and Silver Production, published in the Chronicle of February 21st, we
estimated tbe output of the Russian mines for 1903 at 1,131,.
000 ounces. The ounce3 given above by our correspondent
are avoirdupois, but reducing them to Troy weight we reach
a total of 1,111,233 ounces, or very olose to our February
estimate. —Ed. Chronicle,]
have read with great interest your introductory remarks
educational movement, to your article on the World's gold production and take the
cruing to
liberty to furnish some supplementary remarks to the item
it is urged with much force, is that we are learning to
of Russia of your leader on "Gold Production of the World
reserve for the business man the place in public estiDuring 1908."
mation which rightfully belongs to him that we are
Your supposition " that it is the policy of the Government
of the benefits already ac-
I
—
ceasing to sacrifice
him
in onr esteem to those
who
exercise the so-oalled "liberal" professions.
RUSSIA'S GOLD PRODUCTION.
In preparing our annual review and compilation of
the world's gold product in 1903, February 21 (page
737), we procured the best information we could at
that early dite for the output of Russia's mines. The
figures we gave were stated to ba an estimate.
In the
communication below from our St. Petersburg correspondent we have the actual results in detail. Oar
estimate made in February of the year's yield of
Russia's mines was 1,134,000 ounces. Oar correspondent gives us as the actual product In that year 1,111,233 ounces. Ha also explains why it is that gold
mining makes such slow progress in that country.
St.
Petersburg, Russia, March
31st, 1904.
William B. Dana Company, Publishers, Pine Street corner
Pearl Street, New York.
Dear Sirs— I beg to confirm my
Feb. 29th
and regret to say that this time it has taken longer to gather
in the statistics for the Russian gold production of the
calendar year 1903 (Russian style) than when I last gave you
these fignres. Bat you will have to blame the present unpleasantness with Japan for this delay, the public service
being somewhat disorganized on account of the war, especially in Siberia and |in the Ural Mountains—both the most
important gold producers of Russia—both having to bear the
brunt of the battle as far as men and material are concerned,
both being nearer the seat of war than any of the other parts
of the Empire.
The official figures for the gold production of Russia during the twelve months ending Dec. 81st, 1903, which I obtained from a Government officer of the Mining Department
belonging to the Ministry of Agriculture and Government
Domains, are as follows
last respects of
:
Raw gold In round figures
Fine gold reduced on basis of
2.374 poods.
"
2,110
8 9 ths
to restrict the output," is not correct,
The Government has
done and is doing everything to further this branch of the
mining industry; it is returning the full amount of duty on
all mining machines and on certain supplies as soon as a
Government mining officer has issued a certificate that euch
machines and such supplies are being used for the purpose of
mining gold. This is certainly more than has been done in
South Africa at the time.
As for the special grants to Americans, I can tell you that
they all have proved unproductive as far as the single branch
of gold mining is ooncerned.
Two American capitalists who had combined with a gentleman of Russia to explore gold deposits on the Siberian coast
of the Pacific have found it far more profitable to barter
beads and powder against precious fur skins to the natives of
Eamtchatka or of the Jakoutsk district and to dig for mammoth tusks (ivory) in North-Eastern Siberia.
Another American gentleman from the Pacific coast had a
large concession for mining gold in Eastern Siberia on the
Jenissei River, near the city of Jenissei, but it did not pay;
he had to abandon it.
Another party of Americans, headed by the son of a Western banker, had been exploring a gold mine in Central Siberia, north of the Great Siberian Railway, between Tomsk
and Irkoutsk.
They had to abandon it after two years, as being too unprofitable, and, having sunk about 150,000 roubles in this
"hole in the ground," the whole party returned to America
early this winter.
The war has brought a good many changes for the mine
owners of Siberia—for the worse, of course— and these will
certainly not tend towards an increase in the production of
gold.
Most of these mines are located in the interior and the
transport of foodstuffs and supplies for the miners can best
be effected over the frozen snow, i. e., between January 1st
and April 1st, Russian style.
The owners had j ust ordered their supplies, when the war
with Japan, which had not been expected, broke out; as Ithe
Siberian Railway was at once closed for ordinary freight
traffic,
visions
it
being reserved for transporting troops and prothe army, these supplies became unavaila-
for
ble.
To which must be added an estimated amount of
400
At the same time they became useless, as all able-bodied
which have escaped the Government control and have been
men
were at once called to the arms, so that all the mines
unlawfully brought aoros3 the Siberian frontier into Mongolia and Manchuria, mostly by Chinese smugglers. This will be short of hands.
These are questions of such vital importance to the mine
latter figure, however, is only an estimate, and .simply given
owners
that they intend to petition for the freedom of the
for the sake of information; it cannot rightfully be included
for
these supplies and for a release from the army of all
road
in the official statistics.
men
who have formerly been enlisted in the gold minthe
1 Pood Russian
*'
being
or
1 Pound Russian being
1 Pound, or 1 6 ounces being
we get for a total of fine gold of
2,110 poods, or
which are equal to
40
lbs.
163805
kilos.
Russian,
0-90283 lbs. English.
1-10763 lbs. Russian,
84,400
76,198-852
or 1,219,181-60
Russian,
English,
trade oz English
(avoirdupois).
lbs.
lbs.
ing Industry of Siberia.
Such requests have very little chance of beiDg granted,
especially as the mobilization of the Russian army has been
limited to Siberia and the districts between the Ural Mountains and the Volga River. Thus far European Russia has
hardly been affected by it.
Very truly yours,
Converting this total into Russian money on the basis of
1 Pound Russian being
1 Solotnlk Russian being
1 Pood Russian being
wegetatotal weightof
which at the officially fixed
96 solotnlk,
96 doll,
3,840 solotnlk,
8,102,400 solotnlk Russian,
prioe of
6-05 roubles per eolotulk of gold nets
a total value of
40,917,120 roubles,
or, on the basis of 51 ^ oents per rouble
wegetatotal
which
Feb.
of
figures cover about
20.
$20,970,024
ITEMS ABOUT BANKS BANKERS AND TRUST CO'S,
—The public
shares, of
sales of bank stocks this week aggregate 718
which 248 shares were sold at the Stock Exchange
and 475 shares at auction.
The auction
sales include a block
of 400 shares (par value, $25 each) of Mechanics'
Bank
your estimate in your issue of public
week.
stock,
which
sales of trust
& Traders'
was sold in one lot at 130.
company stock have been made
No
this
J
May
7,
B
THE CHRONICLE.
1904.
Bakks— N*v> York.
Mharet.
*10 City Bank, National
•220 Oommeroe, National Bank of..
25 Mechanics' National Bank
400 Mechanics'
&
Traders'
ink...
453 Mercantile National Bank
10 Par k Bank, National
Price.
264»«
211 78-213
250
130
230-233
462^
La.it previous tale.
1901—
1904—
1904—
July 1903—
Mar. 1904—
Mar. 1904—
Apr.
Apr.
Apr.
265
213%
295
160
232
458^
1765
Messrs. Halstead
&
Hollister,
Hagemeyer.
—The Greenwich Bank
Bold at the Stook Exchange.
§ Of this amount 13 shares were Bold at the Stook Exohange.
Mr. George C. Hollieter and
Mr. Samuel H. Watts of the latter firm retiring. The new
concern is composed of E. Bayard Halstead and Arthur H.
*
new branch
in the
of this city will
Wool Exchange
on
May
10
open a
building, in the quarters
Chamberlain during formerly occupied by the Varick Bank. This is the Green—Dr.
the Low administration, was recently elected President wich Bank's second branch, the other being at 1440 BroadMr. John P. Faure will have charge of the new
of the Thirty-fourth Street National Bank of this city; suc- way.
ceeding Mr. Bradford Rhodes, resigned. Dr. Gould is also branch.
The Mercantile Safe Deposit Company in the Equitable
President of the City & Suburban Homes Company, which
he organized in 1896. At the board meeting held last Tues- Building, corner of Broadway and Cedar Street, has comday, Dr. John P. Munn, President of the United States Life pleted its powerful new vault, one of the largest in the world.
Insurance Company, was chosen First Vice-President Clin, The vault measures 58 feet long, 28 feet wide, 10>£ feet high,
ton B. Braine, formerly of the Continental Trust Company, and contains 3,700 safe-deposit boxes of various dimensions.
Second Vice-President, and Walter R. B. Learning of the The walls of the new vault, which are eight inches thick,
Bank of Metropolis was made Assistant Cashier. William are formed of heavy layers of chrome steel, with a wall of
M. Smith, President of the Bank of Savings, and Wyllys drill-proof and electric-proof material placed between, so
Terry were added to the directorate. The bank's Cashier, constructed as to make the protection afforded that of a
Curtis J. Beard, was for many years discount clerk in the solid mass. A stone wall, four and one-half inches in thickOn April 23 the institution moved ness, surrounds the vault, making it absolutely fire-proof and
Fifth Avenue Bank.
into its fine new bank building at 41 West Thirty-fourth burglar-proof. Each vestibule entrance into the vault is
Street. The banking offices occupy the entire street floor protected by three sets of doors, equipped with the most
and are attractively finished in mahogany and white. The improved combination and time locks, the outer door measbank has installed a modern safe deposit vault and coupon uring: twelve inches in thickness, the center ones nine Inches
rooms in the basement, besides a lunch room and other con. and the inner ones seven inohes. Strong wrought- iron
veniences for its employees. It is expected Dr. Gould's con. grills placed in front of the oompany's vaults separate them
nection with the institutions' management will introduce from the outer offices, while approach can only be had to the
important interests into its affairs. The bank was organized vestibules leading into the vaults through gates in these grills*
which are carefully guarded by trusted watchmen. Nearly
in Ootober 1902.
— Hallgarten & Co. moved on Wednesday to the Hanover fifty private attendants, detectives and watchmen keep watch
Bank Bnildlng, 5 Nassau Street. They have the entire third over the vaults day and night.
E. R. L. Gould, formerly City
—
;
Altogether the company has three large security vaults
which gives them far more spacious accommodations
than they had at 74 Broadway. The offices are very hand" containing over sixteen thousand safe-deposit boxes of different
somely fitted up and are supplied with all the latest improve- sizes, besides eighteen private vaults, two large special vaults
ments. The large windows on two sides of the building and fourteen storage vaults for valuable property. The Mercantile Safe Deposit Company, which was organized in 1870
make the light exceptionally good.
and incorporated in 1875, is to-day one of the largest and
Mr. Ashbel P. Fitch, President of the Trust Company
strongest concerns of its kind in the world. Lyman Rhoades
of Amerioa, died at his home in this city on Tuesday last of
has been its executive officer for nearly a quarter of a cenapoplexy, in his 56th year. Mr. Fitch was a member of Contury. James H. Hyde and William H. Mclntyre are Vicegress for four consecutive terms, beginning with 1886; in
Presidents; Elmer M. Billings, Secretary; William Giblin,
1893 he was elected City Comptroller and resigned from
Assistant Secretary; George Boscawen, Treasurer. The folCongress to accept this important position. In 1899, when
lowing gentlemen are trustees: James H. Hyde, C. B. Alexthe Trust Company of America was organized, Mr. Fitch
ander, Lyman Rhoades, William H. Mclntyre, V. P. Snyder,
became its first President, and has been a constant worker in
W. B. Bremner, Alvin H. Krech, Thomas D, Jordan, William
Mr. Fitch was a member of the following
its upbuilding.
Alexander, Gage E. Tarbell, Henry M. Alexander, William
clubs: Manhattan, Metropolitan, Lawyers', New York Yacht,
H. Baldwin Jr. and Henry Rogers Winthrop.
Ardsley and Knoll wood; also of the Arion, St. Nicholas and
—Messrs. Rhoades & Richmond, 20 Broad Street, will comLiederkranz societies, the Sons of the Revolution and the
mence business Monday morning in their fine new offices at
Society of Foreign Wars.
—The American Loan & Trust Company of this city 7 Wall Street, corner New. The firm's offices will be situated
which failed some years ago, has just declared a final (and on the ground floor, underneath the Bankers' Trust Company.
floor,
—
t
only) dividend in liquidation to the
common
depositors— the amount being 15*61 per cent.
creditors were paid in full.
creditors— the
The preferred
—Alfred
L.
Weaver, who for thirty-five years past was
Government at the New York Assay
in the, employ of the
and previously at the Sub-Treasury, died at his resiin Brooklyn on Wednesday of pneumonia.
Mr.
Messrs. G. Hermann Kinnicutt, Eliphalet N. Potter and
Gustav E. Kissel, the latter as speoial partner, have this week Weaver held a very important and responsible clerical posiformed a new co-partnership under the firm name of Kinnicutt tion in the Assay Office and he was highly respected by his
& Potter, with offices at 1 Nassau Street, corner Wall. Mr. associates.
Potter, the Stock Exchange member, was formerly with
—Andrew Kirkpatrick, President of the Federal Trust Co.
Spencer Trask & Company, and Mr. Kinnicutt was with of Newark, N, J., a director of the Howard Savings InstituJ. P. Morgan & Company.
The new concern will do a g< n. tion and for many years a Judge of the United States District
eral bond, investment and commission business.
Court, died at his home in Newark on Tuesday in his 60th
—Mr. Leo H. McCall, previously Assistant Secretary of the year.
Bankers' Trust Company, was recently made an Assistant
—A. C. Twining and D. C, Cornell, the former President
Cashier of the Citizers Central National Bank, 320 Broad- and Treasurer, respectively of the Monmouth Trust Company
way. After to-day the institution will locate its receiving of Asbury Park, N. J., and who were convicted some time
tellers and collection department directly scross the hall ago of having violated the trust company Act of 1899, wer
from the main banking room, in the offices formerly occupied sentenced on Tuesday to six years and four years, respectby the Merchants' Trust Company. Since the National Citi- ively, in State prison.
—
zens absorbed the Central National Bank the consolidated
grown daily, makiDg larger accommodations imperative. The institution's main banking room
is being thoroughly overhauled and renovated.
institution's business has
—It was reported to-day that the Columbia Bank, corner
Fifth Avenue and 42nd Street, will open a branch office in the
old National Citizens' Bank building at 401 Broadway.
—The new brokerage firm of Messrs. Halstead & Hagemeyer, 71 Broadway, was formed on the 2d inst., succeeding
office,
dence
—
The announcement appears this week of the purchase by
Hambleton & Co. of Baltimore of the German Bank of BafN. Y. Mr. Schelling, the Vice-President of the bank,
quoted as saying: "The stock which we have disposed of
was acquired by Mr. R. Emory, of Hambleton & Co., Baltimore. Mr. Emory will become President of the bank, but
otherwise the organization will remain unchanged. Mr.
Georger is now President and Chairman of the board of
directors." The German Bank has a capital of $100,000,
falo,
is
J
THE CHRONICLE.
766
and
surplus
profits
of
$430,807
and deposits of nearly
W. Runnette, James Soott, John Runette,
Cameron, Robert Ostermaier and John H.
Nelson, Charles
Markley C.
Sawyer.
$6,000,000.
[Vol. lxxviii.
—Messrs. Edward V. Henderson and Osborne Howes Jr., of
—The Industrial National Bank of Pittsburgh removed on
110 State Street, Boston, announce that they have formed a
partnership, under the firm name of Henderson & Howes, to Monday to its attractive new quarters at 333 Fourth Avenue.
deal in national bank and trust company stocks.
special meeting of the stockholders of the Diamond
—Mr. H. M. Taylor has resigned as Treasurer of the Beacon National Bank of Pittsburgh has been called for June 6, to
Trust Company of Boston. Mr. George M. Barnum Jr. be- vote upon a proposition to increase the capital from $500,000
comes acting Treasurer.
to $6C0,000.
It is reported that the new stock will be sold at
per
has
been
share.
$400
Vice-President,
formerly
—Mr. C. H. Collins,
—A
elected temporary President of the
American National Bank
of Boston, to succeed Mr. H. J. Patterson, who retires on account of ill-health. It is said that Mr. Collins will later be
made permanent
President.
directors of the Philadelphia National Bank on
May 3 declared a dividend of five per cent for the last six
months, free of tax, and have added to surplus $250,000,
—The
—The Euclid Avenue National Bank of Cleveland, which
was merged into the Euclid-Park National Bank in June
;
1908, has paid another dividend in liquidation, the amount
being 7 per oent. This makes a total of 25J^ per cent paid
to date,
—The Reserve Trust Company of Cleveland has decided to
open another branch office on Woodland Avenue, this makmaking that fund $2,250,000.
ing the fifth branch to be established. The main office is
The directors of the Farmers' & Mechanics' National at 65 Euclid Avenue. The new branch will be in charge of
Bank of Philadelphia have just declared a dividend of three Mr. Howard A. Stahl, the Assistant Secretary of the Instiper cent for the past six months and have added $50,000 to tution.
the surplus fund, making the present amount of that fund
—The Coal & Iron National Bink of Cleveland, whioh was
$950,000. The surplus fund is being rapidly added to, as the absorbed by the First National in August last, on April 25
subjoined table will show, giving dividends paid for several paid another dividend in liquidation to its stockholders, the
years past, with the increases in surplus fund. This institu- amount this time being 6 per cent.
This makes a total of
tion has paid in dividends to its stockholders nearly twelve, $91 per share paid to date.
and a quarter million dollars.
At a recent meeting of the board of directors of the
Surp. Fund
Security Trust Company of Indianapolis, Ind., Mr. A.
—
—
Dividends.
May 1,1900
$120,000
120,000
120,000
120,000
120,000
-
" 1901
" " 1902
" " 1903
" " 1904
Increated.
$50,000
50,000
50,000
100,000
100,000
The bank publishes a
full list of its investments under
showing each issue of bonds held.
Under the presidency of Mr. Howard W. Lewis the bank
The other officials assois making a noteworthy advance.
ciated with Mr. Lewis are Mr. Henry B. Bartow, Cashier; MrJohn Mason, Transfer Agent, and Mr. Eugene H. Austin,
date of
May
8 1904,
Assistant Cashier.
—The Maryland Trust Co. of Baltimore, now
placed in greatly improved position through the
disposal by the receiver of the company's interest in the Vera
The details of the transaction are
Cruz & Pacific RR.
reported in our railroad news department. Receiver McLane
announces that the sale will enable the company to pay all
creditors in full and leave a balance for the stockholders.
quote his remarks in full on that point as follows:
hands,
is
We
"Your receiver feels confident that the sale of the Vera Ornz & Pacific
RR. Is most advantageous for the creditors and for the stockholders of
the Maryland Trust Co., and while It falls short of refunding the money
advanced to the Vera Cruz & Paolflo RR. Oo. by the Maryland Trust
Co., yet In connection with the remaining assets of said trust company
It' Insures the payment in full with interest of all Its creditors and depositors, thereby avoiding the
enforcement of the stockholders' statutory liability, and that it should leave a balanoe to the credit of the
stockholders. What the amount of this balanoe will be will depend
upon what aotion maybe taken by the stookholdors towards liquidating
these remaining assets, or upon what may be realized from them by
the receiver."
—The
Merchants National Bank of Baltimore in its statement of condition for March 28 1904 shows deposits of $10,538,684, This compares with deposits in Dacember last of
$9,405,362. From 1893 to date deposits have been: in 1893,
$2,600,000; in 1895,
$2,940,000; in 1897, $3,850,000; in 1899,
and in 1904, as above stated,
$5,750,000; in 1901, $9,750,000;
Mr. Douglas H. Thomas is President; William
Cashier; and J. C. Wands and J. C. Fenhagem
Assistant Cashiers. This institution will begin shortly the
const ruction of a handsome new building.
$10,583,684.
Ingle
is
—Mr. E. Q. Normecntt has been elected Secretary of the
Safe Deposit & Trust Company of Pittsburgh, to succeed Mr.
W. T. Howe, deceased. Mr. G. E. Painter was eleoted a director to succeed Mr. Howe on the Board.
—The new
trust
company
for Pittsburgh, to be controlled
by interests identified with the Metropolitan National Bank
and to which we referred in our issue of April 9, has been
The name of the new institution is the MetroCompany, its capital is $125,000 and its directors are: Messrs Clarence P. Tiers, Henry Daub, Charles L
Placcus, George V. Milliken, Thomas R. Evans, A. Howard
chartered.
politan Trust
C.
President
by
Mr.
William
succeeded
as
F.
Churchwas
man, formerly Vice-President. Mr. Gavin L. Payne, who
previously held the position ofj Secretary, was elected
First Vice-President to succeed Mr. Churchman, and Mr.
George J. Marott was re-eleoted Second Vice-President. Mr.
Alfred M. Ogle was elected to the position of Treasurer, sue*
ceeding Mr. O. M. Packard. No Secretary has as yet been
elected in Mr. Payne's place, Mr, H. P. Brown, the Assistant
Secretary, occupying the post for the present.
Daily
—
The Commercial Trust Company of Indianapolis— to the
suspension of which we referred in our issue of April 2— has
beenj ordered dissolved by Judge Carter of the Superior
Court. The Union Trust Company, which was appointed
|
in receiver's
ae'
temporary receiver, has now been made permanent receiver,
and the institution's affairs are being wound up.
—Mr. Charles A. Dean
has been elected Vice-President of
of Detroit, Mich., to succeed Mr.
retires on account of advancing age.
the Detroit Savings
F. B. Sibley,
who
Bank
—
The directors of the Commercial National Bank of Chicago have elected Mr. Charles F. Spalding a member of their
board to fill the vacancy caused by the death of his father,
tne late Jesse Spalding. John C. McKeon retires from the
directorate, giving place to Joseph T. Talbert, the bank's
new
Vice-President.
Monday, May 2, Finley Barrell & Co,, Chicago, bankand brokers, will open a branch office at No. 11 Jackson
Boulevard, in the new Railway Exchange Building. The
appointments of the office are complete and elegant, rich
mahogany being used in the desks and counters, wainscoting
and furnishings. The managing partner will be Mr. Stewart
Barrell. This prominent Western firm in stocks and bonds
consists of James Barrell, his two sons Finley and Stewart
Barrell, and David A. Noyes. They hold memberships in the
New York Stock, Cotton, Coffee and Produce Exchanges;
Chicago Board of Trade and Stook Exchange; St. Louis Merchants' Exchange; Milwaukee Chamber of Commerce, and
Minneapolis Chamber of Commerce.
Besides their main
offices in the Monadnock Building, Chicago, and the new office
mentioned above, they have branch offices at No. 112 North
Fourth Street, St. Louis; in the Hammond Building, Detroit;
Iroquis Hotel, Buffalo; Chamber of Commerce, Minneapolis,
and McMillen Building, La Crosse, Wis., with private wire,
extending north, south, east and west.
—On
ers
—The "Federal Stock and Bond Exchange" of Chicago
organized under the laws of the State of Illinois, has just
begun business in a beautiful and spacious suite of offices in
the Hartford Building, 140 Dearborn Street, with branch
offices at 1,124 Exchange Court Bnilding, New York, and
720 Arcade Building, Philadelphia. The officers of the company are Henry L. Turner, private banker, President; A. B.
4
..
May
7,
THE CHRONICLE.
1904.]
Nettleton, formerly Assistant Secretary U. S. Treasury?
Vice-President and Treasurer; Herbert S. Blake, Vice-President and General Manager; Wm. B. Baker, Secretary. The
scope of the Federal Exchange is to buy and sell investment
securities; to organize, reorganize or finance industrial en"
terprises of merit, and to audit, examine and report upon
any existing or projected business.
— Charles
brokers,
W.
&
Company, Chioago bankers and
have taken from Warren L, Beokwith & Company
Gillett
the unexpired lease on their ground-floor offices in the Home
Insurance Building, 199 LaSalle Street, and will open a
branch office there. Mr. G-illett is a special partner in the
new firm of T. A. Mclatyre & Company, as mentioned in last
week's Chronicle.
—The Chicago stock and bond
firm of
&
Warren L. Beck
retired from locai
with
Company, 193 La Salle Street,
business May 1. The prevailing inactivity of the stock mar.
ket is the cause. Mr. Beckwith will retain his membership „
in the Chicago Board of Trade and Stock Exchange. His
partner, Mr. Lowry B. Raymond, will go to New York.
—The conversion
Bank of Commerce
of Lincoln, Neb., into the National Bank of Commerce, and
the capital has been increased to $100,000. The officers remain as heretofore, being: M. Weil, President; S. A. Foster
Vice-President; M.
Cashier.
is
announced
I.
Aitken, Cashier; Carl Weil, Assistant
of the
—
The Germania Bank of Savannah, Ga., on April 26
removed its offices from Drayton and Bryan streets to its
handsome new quarters on the corner of Bull and Congress
1767
intended to invite the societies of accountants in Great
Britain and in Canada to send representatives to the Congress. It is too early to estimate how many accountants will
attend, but there has already been, we are informed, a
cordial response from the Western members of the Federation; Illinois expects to send twenty members, Ohio fourteen,
Pennsylvania twelve, while from the Pacific coast seversl
Id Is
representative
men have promised
to attend.
The Congress will afford an opportunity for the professional
accountants in the country to meet and discuss a wide range
of subjects of great interest. All public accountants practicing in the United States, whether members of the societies
composing the federation or not, are invited to be present.
They will become members of theJCongress upon registering
their names and local addresses at headquarters.
The Federation of Societies of Public Accountants in the
United States of America, which is arranging the Congress,
was organized at Washington, D. C, on Ootober 28 1902.
Its objects are stated in its Constitution to be:
(a)
To bring Into communication with one another the several assoand societies of Pablio Accountants organized or to be organ-
ciations
ized under the laws of the several States of the United States of
Amerioa; (b) to encourage the formation of State associations of
Public Aooountants In States where they do not exist; (o) to encourage State Certified Public Aooountant legislation on uniform lines;
(d) to secure Federal recognition of the profession of the Publio
Aooountant; (e) to facilitate and assist the training of young members
of the profession and to establish a uniform standard of efflolenoy in
federated societies; (f) to disseminate throughout the United States a
general knowledge of the objeots of the Federation and of the utility
of the Pablio Accountant in the industrial and financial development
of the country; and (g) to further the interests of the profession of
the Public Accountant generally.
streets.
The officers of the Federation are: President. Farquhar J.
MacRae, C. P. A., of New York; Vice Presidents, the
Presidents of all federated societies; Secretary, George
—The fourth annual convention of the South Carolina Wilkinson, C. P. A., of Illinois; .Treasurer, Robert H. MontBankers' Association was held at Spartanburg, S. C, on gomery, C. P. A., of Pennsylvania.
April 26 and 27.
Several interesting papers were read,
among them being one on collections, "How B9st Handled
and made Remunerative," by Mr. Henry P. Williams, Cashier
Canadian Bank Clearings.— The Clearings of the Canaof the Carolina Savings Bank of Charleston. The address of dian Banks for the month of April, 1904, show a decrease
Mr. B. F. Mauldin, Cashier of the Bank of Anderson, on from the same month of 1903 of 5*4 per cent and for the
"Exchange, a Proper Source of Revenue," also elicited fa- four months the loss reaches 7*2 per cent.
vorable discussion. At the conclusion of these two addresses
April.
Four Months.
the Chair was authorized to appoint a committee of [five to
Oleari/ngs at—
or
In.
In. or
consider the suggestions made in these two papers and repoit
1904.
1903.
1904.
1903.
Dec
Dec.
—The
annual convention of the Alabama Bankers' Association will be held in Montgomery, Ala , on May 11 and 12.
to the next convention.
Mr.
W.
O. Jones, Assistant Cashier
I
$
74,955,729
83,681,127 -104 300.4F2.686
341,916 680 -12*1
Montreal
Park Bank of New York, delivered an ad- Toronto
61.121,003
06,695,786 —8*2 S38,982,64>
275,993 845 -13-4
+9-2
7 9,0. 10,272
18,684,556
Winnipeg...
17,290,498
65,949 724 +19-8
dress on "Personal Equation in Banks," which was highly
6,498.880
Halifax.
7,236,773 —102
26,405.195
28," 19 1«0 -7-7
8,418,'40
8,870,13* +1*5
32,446,07
32,157 .S76 +0-9
commended. During the course of the proceedings a resolu- Ottawa
6,452,851
5,850,947 -6-8
21,680,98'
Quebec
22,905 943 -5'3
10-0
6,436,749
4.9*0,3*8
17,*98 433 +17"1
Vancouver
20,953,308
+
tion of sympathy was tendered to Mr. R. G. Rhett, President
4,658,006
17,9-2,831'
Hamilton...
3,799,087 --22-6
15,9*3 339 +13'3
13,62s ,f8l +8-6
3.4WS.473 -13 6
3,971.206
14,798,940
of the People's National Bank of Charleston, on account of St. John
3,66P,153 +31
13,-58,1'
3,778.879
13,W2t 554 —1-2
London...
2,508,324
the death of his wife. A banquet was enjoyed on the second Victoria
1,1.26,468 +30-2
10,261,354
8,809 950 +16-5
day and many toasts made and responded to. It was decided
Total Canada.
195,679,982
208,752,814 -5*4 776,751,874
837,16^,174 —V2
to hold the next convention at Anderson, S. C. The followThe clearings for the week ending April 30 make a rather
ng offioers were elected to serve for the ensuing year Presiunfavorable comparison with the same week of 1903, the dedent, B. F. Mauldin, Cashier of the Bank of Anderson
VicePresident, W. J. Montgomery, President of the Farmers' & crease in the aggregate having been 9*5 per cent.
Merchants' Bank of Marion, S. C. Secretary and Treasurer,
Week ending April 80.
Giles L. Wilson, Cashier of the Spartanburg Savings Bank.
Clearings at—
Inc. or
1904.
1903.
1902.
1901.
The following were elected members of the executive comDec.
of the National
. .
]
—
.
:
;
;
mittee
W. F. Stevenson, President of the Merchants' &
Farmers' Bank of Cheraw; W. Jones, Cashier of the Carolina
National Bank of Columbia
E, P. Grice, Cashier of the
People's National Bank of Charleston; W. A. Eddy and F.
G. Stacy, President of the National Bink of Gaffney at
Gaffney.
:
j
;
—The
&
Mechanics' Savings Bank
Trust Co. of Memphis,
Tenn.— to the organization of which we referred in our issue
of
March 26— opened
for business
on
May
officials
has been enlisted.
Halifax
Ottawa.
Quebeo
Vancouver
18,400,539
13,493, v35
4.966.757
1,573.776
1,>>3S,0"2
19,940,622
14,920,089
4,406,646
1,723,025
1,671,314
1.348.1H6
1,089,452
John
London
1,279.515
1,278.603
1,138.916
914,120
726.0H8
Victoria
558,7t*8
861,673
799,120
8«4,916
397,069
43.466,339
4\022.11)
Hamilton.
St.
Total Canada
-17*8
-9-6
—8-2
-8 7
+100
*
20,691,054
18.205,237
3,188.439
1,934,017
1.715,194
-5*1
+17-3
+82-1
+14-4
—16-0
+40*0
1,085.611
—9*5
16,548,773
13,015,902
1,843,689
1,623,609
758,5^6
830,073
657,498
732,740
1,095,395
706,841
375.973
482.567
49,439,552
35,943,823
2.
Public Accountants' Congress,— The plans of the Federation of Societies of Public Accountants in the United
States for holding a Congress of Accountants in St. Louis in
September next are now practically complete, with only a
few details to be filled in. The meeting will be the first of
Its kind in this country and will be held on September 26th,
27th and 28th. Accountants from all sections of the United
States have signified their intention of being present. The
use of a hall has been secured and the co-operation of the
Exposition
%
*
Montreal
Toronto
Winnipeg
Clearings by Telegraph.— Sales of Stocks, Bonds, &c—
The subjoined table, covering clearings for the current week»
usually appears on the first page of the Chronicle, but on account of the length of the other tables is crowded out once a
month. The figures are received by telegraph from the leading cities. It will be observed that as compared with the
corresponding week of 1903 there is an increase in the
aggregate of 0*6 per cent. So far as the individual cities are
3oncerned, New York exhibits a gain of T3 per cent, Boston
percent, Chicago 17*1 per cent, St. Louis 6 4 per cent and
6
New Orleans 10 3 per cent.. Philadelphia reoords a loss of
2*6 per cent and Baltimore 8*2 per cent.
,
.
,
THE CHRONICLE.
17(38
Gltarinas— Return* bv Teleoraph.
Week Ending May
New York
Boston
Philadelphia
Baltimore
1003.
$1,097,111,281
110,3-: 3.04 8
94,83<\132
$1,088,241,2<"4
17,386,'-69
Chicago
St. Louis
Haw Orleans
176.856,812
47.459,503
11 987,271
Seven cities, 5 days.
Other cities, 6 days
Total
all cities,
All cities,
Total
1
+1-3
+6-0
—2-6
-8-8
112.577,250
07,380,172
IH.014,025
160,1^2.616
44,H02,<70
10,865,870
417M
+80
-17
46-4
+10-3
2-0,401,413
$1,617,774,467
286,278,063
6 days.
$1,814,390,418
305,468,022
$1,803,058,430
333,^55,041
-ta-3
for week.
$15,149,8:9,840
$2,136,908,471
+0-6
$1.663,9'-fl,005
day
all cities
P. Cent
1904.
7.
-8-6
Our usual monthly detailed statement of transactions on
the various New York Exchanges is appended. The results
for the fonr months of 1904 and 1908 are given below.
Four Months,
Four Months,
1904.
Par Value
Actual
or Quantity
Value.
Description
Aver'ge Par Value
Price. or Quantity
~
Total.... $4001,615,625 $2441602,699
861,086,250 242,083 500
Total vaine.
1
Aver'gt
Value,
Price.
541*11,603
40.696,368 $3260350,287
Btook { $£,; $3779.388,125
599
BB. bonds..' $221,377,800 $180,438,955 81-5
QoT't bonds
$304,700
$331,487 108-8
$1112,500
$40,680 19-1
State bonds
$601,281 225-2
$222,600
Bankstooks
Oraln, bush.
1603.
Actual
$813*281676 4.078.195.E94 79*3
$231,606,600 $214,744,251 92*7
$512,650
$585,626 1142
$260,500
$93,537 369
$682,671 3163
9190,660
$5368808475 4,268,241,979 "70-9~
61-0
02Mc
163,734,960
$2683746,189
lla,950,31S
7
2«C
4,407,192,297
The volume of transactions in share properties on the New
York Stock Exchange each month since January 1 in 1904
and 1903 is indicated in the following:
AXIS OF STOOKS AT NEW YORK STOCK EXCHANGE
1904.
Uontn.
1903.
Values.
Number
of Shares.
Par.
Actual.
$
Jan...
Feb...
18.363,684 1,169.681.976
March
11,440,966 1,053,978,990
Par.
Actual.
$
$
$
666,948,926 16,001,822 1,616,264,960 1,204.668.214
600,002.41t< 10,928,017 1,046,647,826
835,008.769
664.00S.46l 18,095,806 1,424,484,400 1,138,487,694
793,179,950
8,787.266
Valuee.
Number
of Shares
lstqr. 38 490.838 8.006,740.875 1,820,959,806 48,018.646 3,985.696,576 8,173,154,677
April...
8,805,529
778,667,850
430,880,481 12,298,066 1,150,685,100
900,041,317
The following compilation covers the clearings by months
since January
1
MONTHLY CLEARINGS.
Clearings, Total All,
Clearing* Outside
Mont*.
1904.
p. a.
1908.
____
1904.
$
New
York.
1903.
-14
$
3.744,947,885
$
3,902,861,566
3.884,084,786
3,227,496,463
9,583,878,076
-8 9
—135
1st quar.. 85,638.470,089 89.189.987,661
—18 4
Jannary.
February
.
March
9,486.474 004 11,088,982,021
7,718,689.788 8,468,707,464
8,883,106,307
April
8,800,188.924
3,670,103,317
-4-0
+1-8
8.678,067,741 +0-08
10.608,186,868 10.708,425,752
9,581,868,839 -13-3
3,618.645,838
P.Ot
3,687,607.868
—1*0
—83
The course of bank clearings at leading cities of the country
for the month of April and since January in each of the
last four years is shown in the subjoined statement.
BANK CLEARINGS AT LEADING OITIEF.
April.
Jan. 1 to April 30.
>
,
(000,000*
1904.
1903.
1902.
4,791
5,944
7,353
725
593
60S
211
224
128
99
96
92
69
56
727
620
518
221
Indianapolis
761
651
470
211
173
121
97
90
83
58
67
51
48
41
29
29
33
26
24
25
Denver .....
Richmond..
18
18
Memphis....
19
Seattle
16
12
11
1901. 1904.
1903.
omitted.)
Mew York...
Ohloago
Boston
—
..
Philadelphia
St.LoulB ....
Pittsburgh..
Ban Fran'oo.
Olnolnnati...
Baltimore...
Kansas
City.
Cleveland...
Hew Orleans
Minneapolis.
Lonlevllle...
Detroit
Milwaukee..
Providence..
Omaha......
Boflalo
Bt.
Paul
Hartford
8. Lake City
Total
Other cities..
Total all...
Outside N. Y
51
46
42
29
80
34
26
28
25
20
16
16
15
12
12
188
112
92
106
79
68
56
60
44
40
27
32
30
24
23
21
18
20
13
14
12
14
1902.
1901.
$
*
.637 19,716 24,376 25,138 28,548
641 3,916 2,868 2.815 2,392
690 2,145 2,332 2,357 2,469
483 1,817 1.959 1,892 1,745
183
206
98
83
126
73
58
48
41
40
41
24
29
26
26
20
16
20
17
12
10
12
12
920
636
483
384
352
859
226
404
285
184
160
132
119
131
101
95
102
71
79
97
65
47
47
814
818
501
391
886
337
270
267
214
187
167
125
122
130
102
98
99
71
66
68
62
48
48
861
700
427
348
393
321
230
235
205
166
182
110
121
120
94
89
83
76
74
56
61
48
56
695
701
362
328
418
272
218
213
162
156
158
101
116
106
93
79
61
78
68
54
38
45
46
7,863
9,137 10,548 11,702 32,023 86;916 87,373 28*045
446
445
378
301 1,820 1,806 1,454 i,089
8.309
3.618
[YOL. LXXVIII.
There has been little decline In quotations, but there has
been practically nothing doing. Just as the improvement last
week was mainly caused by buying from the Continent, and
especially from France, the stagnation this week is the result of selling by the Continent, and more particularly by
France.
The death of Admiral Makaroff has made a very profound impression upon the French people. Reports are also in
circulation that the Russian Government is trying to place a
very large loan in France. Russia wants to raise, according
to some, 32 millions sterling, according to others, 40 millions
sterling, in Treasury bills running for three years and bearing
5 per cent interest. The French banks have all along urged
the Russian Government to give proof of its financial
strength by defraying the expenses of the war out of its own
resouroes, at all events for a considerable time. That it
should, notwithstanding the advice given, now demand so
large a loan, has caused considerable surprise.
Meantime there is as little doing upon the Paris Bourse as
upon the London Stock Exchange. And business is very
quiet in Germany likewise. For the time being Paris is
chiefly engaged in making loans to the- Paris Municipality.
Last week the Municipality raised 170 million francs, or
£6,800,000, for the purchase of the Metropolitan Railway,
Next week it is to raise another loan of 4 millions sterling for
the purchase of gas. And a third loan is believed to be in
negotiation, the amount of which is not yet fixed. Furthermore, the Department of the Seine is borrowing 200 million
francs, or 8 millions sterling. The general estimate accepted
in Paris is that the total amount of these loans will be about
23 millions sterling.
There is some questioning here in London as to how the
London money market may be affected by these issues in
Paris. The merely domestic loans will have no permanent
effect.
Just for the moment, while they are in preparation,
they may induce the French banks to withdraw balances
from London. But as the money will remain in France, the
influence will be very temporary. A large Russian loan
would be different. It might have a considerable influence
both upon the Paris and the London markets. But it does
not seem probable that the French banks would withdraw
such amounts from London as would materially disturb the
market here, as at present it seems certain that London
could repay to Paris a very considerable amount without
causing friction.
The directors of the Bank of England lowered tbeir rate of
discount on Thursday from 3>£ to 3 per cent. The action
somewhat surprised the outside market. It was expected
that as money is at the present moment rather dearer in
Paris than in London, the directors would do nothing to
increase the ease here. Probably the directors felt that it
was useless for them to keep their rate of discount at %y% per
cent when bills were being freely discounted in the open
market at from 1 to 1% per cent less. Possibly, also, the
directors felt that as the collection of the revenue is at an end,
and as speculation is stagnant and business very quiet, nothing they could do would arrest the decline in rates, and that
it was therefore wiser to leave the market to itself so that it
would be regulated by natural causes. The ease in London
for the moment is increased by the fall in Buenos Ayres exchange, which has stopped gold shipments to Buenos Ayres
for the time being, and there is expectation that at any
moment the payment of the 40 million dollars due to the
Panama Canal Company may be effected. The prevalent
belief in London is that unless there are withdrawals of gold
from the Bank of England, rates will continue low here.
The India Council offered for tender on Wednesday 60 laos
of its drafts, and the applications exceeded 363 lacs at prices
ranging from Is. 4d. to Is. 4 l-16d. per rupee.
Applicants
for bills at Is. 4 l-32d. and for telegraphic transfers at
Is. 4 1 16d. per rupee were allotted about 62 per cent of the
amounts applied for.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, Ac.
•ompared with the last three years:
9.582 10,926 12.003 13,843 38,722 88,827 29,134
8 638 3.578 8.366 14.127 14 346 13.679 10 971
1004.
Apr. 20.
Hktr
own correspondent.!
London, Saturday, April 23, 1904.
The activity upon the Stock Exchange caused by the signature of the Anglo-French agreement has not been maintained. This week there has indeed been utter stagnation.
1902.
Apr. 23.
28.619.320
8.666.620
38.796.774
14. 524,291
26,154,674
£4,491,697
84,986.017
£8.026.665
11.016,689
80,867,373
14,804,157
28,307,053
86 208,368
86.365,228
1901.
Apr. 24,
X
ironlatlon
PnbllO dapOiltt
ilTrom oar
1903.
Apr. 82.
depoilti
}0T«rom«ni leoaritiei
Itbar leearttlei
4M«rT« of notai and coin
loin ibnillon, both dapartn'ts
Prop, raierreto llabliltlei.p.c
peroant.
lank rat*.
"nioif.au par oent
S4l3-16d.
S '»ar
Claarlnff-Hon«»r«tnrm
t
88.189,466
8,374,4(2
44.7*1,0/5
17,268,980
28.623,620
24.861,200
H4.640.6e6
46 11-16
+3
88J4
April 21 1904.
821,760,00
51%
4
91 11-18
28 7-iea.
204,196,000
49 18-16
3
94 7-16
KSfed.
178.897.0C0
20,153.726
8.271.341
43.426,554
18,817,471
31,309,007
22.629.S-00
36.873,214
47 3-16
94H
27fca.
139,306.000
.
May
.
.
THE CHRONICLE.
1904.
7,
The rates for money have been as follows:
Open Market Ratei
London. <
e
8
Mar. 25
4
80
4
8
4
•'
April
Month*.
2%@2
4
Month*. 6 Month*
2%@3
2%
15-16
tin
2 ll-16@29< 3
"
3 1(01.
16-1H©3
2
254
3
8^@2«
3
11-1«®2M
3*
3«
3*
3@3M
3M
8*
3 15-1603
Mo*. .Santo
4
M
2K
2«
2*
3
8
2*
8*
SH
ik
1*
1«4
2*@2M
The Bank rate of disoount and open marketrates at the
chief Continental cities have been as follows:
April
AprU
4prit 16
23.
Intereitat
&
New York Philadelphia &
Bank
Open
Bank
Open
Bank
Bank
Open
Op«n
Berlin
Petersburg..
4
8%
8M
3
BM
3
4
4
4
2%
2%
4
4
BJf
SM
3
2«
8H
3«
Madrid
Copenhagen.
2H
3 11-16
3
St.
3
4
4
2M
iH
2H
2«
8
nom.
KM
*M
M
1
4
4
..
4
4
4
4
2«
8%
non.
8
BM
5*
4
2«
8k
8M
3
2M
2«
2%
nom.
3
3«
BH
AM
•M
2M
2H
3
3*
nom.
3«
BVl
4
4
4
The following shows the Imports of oereal produce Into
the tfnited Kingdom during the thirty-two weeks of the
season compared with previous seasons:
„
Peat
Beam
Indian oorn
Flour
1,609,500
1,234,619
1,368,384
1,764.830
1.608,308
1,195,795
1,139,241
1,149,040
38,131,157 24,987,602 29,087,577 35,586,600
...._..14,615,684 12,328,992 18,067,260 14,023,600
Supplies available for consumption (exclusive of stook
on September 1):
1903-4.
1902-3.
1901-2.
1900-1.
Wheatlmported.cwt. 56,340,721 51,392,525 40,402.046 43,503,100
Import* Of flour
14,616,584 12,328,992 13,067,260 14,023,600
Bales ol home-grown. 12,937,994 16,670,950 18,680,952 17,310,868
Total
88,894,299 80,392,467 72,100.258
Avar. price wheat, week. 27b. 9d.
27s. 7d.
25s. 6fl.
Average prloe, season. 27s. 3d.
25s. 6d.
26s. lOd.
74,837,558
The following shows the quantities of wheat,
maize afloat to the United Kingdom:
flour
Thitweek. Last week.
Wheat
qrs...
Flour, equal to are...
liaise
qrs...
8.590,000 3,585,000
220,000
205,000
465,000
525.000
26s.
37s.
1903-3.
1,918,000
292,000
525,000
5d.
Id.
an d
1901-2
4,005,000
275,000
415,000
English Financial Markets— Per Cable.
The daily closing quotations for securities, etc., at Londo n
are reported by cable as follows for the week ending May 6:
liOHDOH.
Sat.
per ounce.... .d.
Console., new, 2 k p.ots.
25*6
8938
For aooount
89*e
*Vohrentes(lnParis)fr. 97-621*
Anaconda Mining......
4k
Atoh. Top. <h Santa Fe.. 74*«
•liver,
Preferred
Baltimore <h Ohio
Preferred
....
81k
4
St. Paul... 147 k
Den. A Rio Gr.,oom.... 21
Do
do Preferred, 72
afrle, common ...... ....
25>4
1st preferred
65k
39ia
3d preferred
134i«
Illinois Central
Louisville & Nashville.. 110k
Mexican Central
Mo. Kan A Tex. , oom
.
& western
Do
pref.
Securities....
Northern
Pennsylvania
•Phlla.
91
•
•
•
B
e
40k
Southern Paoiflo
South'n Railway* com
49k
.
Preferred..............
\
87k
861%
•
Preferred.
—..
U. S. Steel Corp., oom..
94k
.
Do
do
pref..
Wabash
Do
Do
_.^.
preferred..
Deb.
"B"
* Price per share.
....
10"6
67 k
18k
39k
64
•
•
;
95
81k
95
80k
16
31k
16k
146k
147k
2lk
146k
21
72
25
65
21k
72
21k
72
25 k
65 k
72
7k
88
118
22
31k
16k
25k
65k
39k
133k
40
133k
110
110
8k
38
38
38k
38k
38k
118k
H8k
22k
58k
91
101k
101k
21
86k
85k
94k
57k
18k
38
63
7k
17k
37k
68k
32
133k
110k
17k
91
22k
40k
«k
25k
65k
39k
18
22k
68k
11
.
4
74k
31k
48k
Union Paoiflo
4
74k
147
31k
16k
60 k
•
1(i
93
18
37 k
•
89H
89 k
9695 97 02k
120k
M
O
•
93
257 ia
89k
93
39k
H
4
74k
95k
81k
253, e
89»i S
Fri.
120k
133k
109k
•
31
258 16
Tkurs.
120k
J
101k
'Phlia.A Read. ,1st pref.
'Phlla. A Read., 3d pref.
80k
93
.
2278
4
74
95
U9 78
60k
* Bead
25k
Wed.
89k
90
89k
9697% 9707 k 9705
68*4
do
rue*.
891318
7*4
18
89
.
Preferred
Rational RR. of Mex.lst preferred
38k
BT. Y. Oent'l A Hudson.. 118*4
T. Y. Ontario A West's 22k
•Torfolk
25 k
96
93
Canadian Paoiflo. ...... 1201s
Chesapeake A Ohio
32
Ohioa. Great Western.. 16k
Ohio. Mil.
Hon.
60k
22k
40k
31k
49
21k
86k
87k
94k
10k
56k
18k
38k
63
91
102
60k
22k
40k
81k
48k
21k
8«k
87k
94k
10k
56k
18k
38k
63
1»«1
118k
22k
58k
91
102
60 k
22k
40 >4
31k
48%
21k
86k
86*4
94k
10k
56k
18k
3-k
63
1
By
Indianapolis Street
(Fla.) Eleotrlo
2
Co
May
May
to
1
2
16
3
5
2
Holders of
25
Oil,
oom
do
pref
1
16
3
May
May
to
May 16
May
May
May
17
17
to
to
to
J'ne 1
J'ne 1
May 25
11
May 8
May 16
May 8
to
to
to
May 4
May 16
May 25
May 15
Apr 24
to
May
Holders of reo.
May
May
May
May
Ik May
pf. (quar.).
6
2
J'ne
J'ne
3%
Ik
14
Ik
Ik
Oats, pref. (quar.)
reo. J'ne
May
May
3
2
3
(quar.)
Nlles-Bement-Pond, pref. (quar.)
People's Gas Light A Coke (quar.)
Pratt & Whitney, pref. (quar.)
t
Not dosed.
1
J'ly
2
Bedford, Mass. (quar.)
Greene Consolidated Copper
Lehigh Coal <S> Navigation
Quaker
2
May 10
to
1
Holders of reo. May
8 Holders of reo. May
31 Holders of reo. May
J'ne
3 May 18
to
J'ne
May
May
$5
HlMtUuMU.
American Cereal
American Cotton
do
May
2
Railways.
•»tri>€>i
New
10
2k May
May
8
Panama
St.,
May
May
J'ne
8
Pennsylvania
Louis A San Fran., 2d pref. (quar.)
2
Payable "to those lawfully entitled to reoelve the same."
Bank Notes — Changes
Total
in
op,
and
in Deposited
Bonds, Etc.— We give below tables which show all the
monthly changes in Bank Notes and in Bonds and Legal
Tenders on Deposit. The statement for April, 1903, utill be
found in the Chronicle of May 9, 1908, page 1011.
Bonds and
IMPOSTS.
1903-4
1902-3.
1900-01.
1901-2.
Imp'ts of wheat OWt.56,840,721 51.392,525 40,402.046 43,503,100
Barley
mmm .
23,453,568 19,444,722 17,218,204 15.005,900
Oats
.....10,234,698
9,391,802 11,111,300 13,671.000
8
Norfolk
8vraouse (N. Y.) Lighting,
8M
2% May
pref
Schuylkill..
St.
2.
Rate. Market Rat*. Market Rate. Marktt Bat*. Marke
Jilt.,
Delaware Susquehanna
Great Northern (quar.)
Union
April
0.
Rateiot
Book* Closed.
(Bay* Inclusive.)
Cent Payable
!Nt«m).
Kallroarfa
Atlantlo Coast Line
Tampa
When
Per
Fat** of Company.
Call
SK
8H
2*
1769
©ommtrctal and HXisccXIaueau sUcixrs
DIVIDENDS.
Joint DU't H'l
Stock At 7-14
7rad« 5<il»
16 3* 2 »-16@25i
2«
2 8-16
8 3-1H32M
22 3
"
fnt«r«*t allow**
for depoiitl b»
i
Bank BUI*.
c
1
1903-04
Circulation Afloat Under
Legal Tenders on Deposit
for Bank Circulation.
Legal-
Bonds.
Legal-
Bonds.
tenders.
Total.
ten ttrs.
Apr. 30.. 399,795,140 39,277,792 397,802,781 39,277,792 437,080,573
Mar. 31. 398,034,650 39,309,708 395,600.284 89,309,708 484,909,942
Feb. 29.. 392,671,650 39,971,819 390.852,49 39,971,819 430,824,310
Jan. 31., 390,231,600 39,199,896 387,657,731 39,199,896 426,857,627
Deo. 81„ 889,335,680 37,889,395 387,273,623 37,889,395 435,163,018
Nov.
30..
Oot
31..
Sept
30..
Aug.
July
81..
81..
June
30..
May
31..
384,625,930
382.726,830
881,484,830
381,486,480
380,173,030
375,347,270
367,827,920
38,088,495J
38,959,862
40,910,711
38,511,658
39,739,661
41,375,342
42,856,218
388,018,484
380,650,821
379,515,824
380,076,322
377,606,826
372,295,408
368,586,987
38,088,495
38,959,862
40,910,711
38,511,653
39,739,661
41,375,242
42.856.218
421,106,979
419,610.683
430,426,535
418,687,975
417,846,487
413,670,650
400,443,205
above table see Chronicle
Dec. 14, 1901, page 1232, first item in Financial Situation.
The following shows the amount of each class of bonds
held against national bank circulation and to secure public
moneys in national bank depositories on April 30.
For
full explanation of the
0. 8.
Bonds Held April
Bonds on Deposit
April 30, 1904.
Public Deposits
Bank
in Banks.
Circulation.
5 p. cts., 1894, due 1904
4 per cts., funded 1907..
4 p. ots., 1895,
30, 1904, to Secure -
due 1925
3 p. ots.,'98, due 1908-18
2 p. ots., 1900 due 1930.
3-65a Diet. Col., 1924...
Btate AClty
Philippine Isl'd Certify
Hawaiian Island bonds
Railroad bonds
Philip inne Loan.........
100.000
7,071,050
10,806,050
7,113,000
97,749,000
2,044,000
20,717,128
4,328.000
1,117,000
17.670.000
2,721,000
$171,436,228
$2,966,750
1,540,100
1,759,940
393,528,850
Total Held
$100,000
10,037,800
12,346,150
8,872,940
491,277,350
2,044,000
20,717,128
4,328,000
1,117,000
17,670,000
2,721,000
$399,795,140 S571.S31.368
The foregoing does not include the bonds held
in the
New York
Sub-Treasury against deposits in banks. There
were so held on April 30 $84,666,128 50 bonds, making the
whole amount at that date in possession of the Government
as security for deposits 1206,102,856 50.
The following shows the amount of national bank notes
afloat and the amount of the legal-tender deposits April 1
and May 1, and their increase or decrease during the
month of April.
National Bank Notre— Total afloat—
Amount afloat April 1, 1904
Amount issued during April
amount retired during April
Amount bank notes afloat May
1
,
$434,909,942
$7,773,425
5,602,794
1904.
2,170,631
$437,080,573
Legal Tender Notes—
Amount on deposit
bank notes AprU
1,
to redeem national
1904
Amount deposited during
Amt. of bank
April
notes redeemed In April
Amount on deposit to redeem national
bank notes May 1, 1904
$39,809,708
$2,861,248
2,893,164
81,916
$39,277,792
—
.
<
•
1
i
O
^
'
THE CHRONICLE.
1770
The portion of legal tenders deposited (1) by banks becoming insolvent, (2) by banks going into voluntary liquidation
and (3) by banks reducing or retiring their circulation)
was as follows on the first of each of the last five months.
Legal Tend's.
Jan.
Mth.
Feb. 1.
1.
April
1.
May
1.
1.
$
$
373.690
428,710
565,830
610,980
410.6S5
Ineolv'ntbka.
Llqnld'g bke. 11,818,376 12,076,70ft 12,356,852 11,762,975 11,958,687
Sed'o'eund.*
aotofl874. 25,660,335 26,512,211 27,049,137 27.118.02S 26,947,415
Depotitsby—
Total
37,889.395 39,199.896 39,971,819 39.309.70g 39,277,792
•Aot ol Jane 20, 1874, and July 12, 1882.
Government Revenue and Expenditures.—Through the
oourtesy of the Secretary of the Treasury, we are enabled to
place before our readers to-day the details of Government
disbursements for the month of April.
receipts and
From previous returns we obtain the figures for previous
monthB, and in that manner complete the statement for
the ten months of the fiscal years 1903 04 and 1902-03. For
statement of April, 1908, see Chronicle May 16, 1903,
page
1067.
RECEIPTS AND DISBURSEMENTS
~2
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S5
•
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as
May
1,1904
223.06R.60fl 224.09d.906l280.919.188
Auction Hal as- Hy Messrs. Adrian H. Muller
Bank
130
40 Mercantile Nat. Bank. ..233
275 Montana- Realty <b Title
<)o., $10 each
$19 lot
10 Nat. Park Bank
462^
48,200
4,000
198,200
159,300
72.000
67,311
173.936
43,701
City.
288.079
171,960
5,384
55,730
81,500
8,93f
lis.
17,889
13,600
9,742
18,680
1,700
"~
Tot. wk. 1904
Since Aug.
1903-1904
206,203
295,336
1,128.760
2,008,768
1,446.821
2,173,846
2,123,826
2,567,690
578,648
454.48S
427,131
1.770.553
1,997,674
2,692,064
268,160
1.
16,647,969 196,168,254 132,671,896 131,236,17) 69,744,729 6,862.808
15,861.670 219.629.031 124.195.0P5 161,860.212 49,700.988 9,181,910
16.441.268 201. 443.9=13 100.964.062 110,269,328 38,378,918 4,710.882
1901-1902
The receipts of flour and grain at the seaboard ports for
week ended April 30 1904, follow:
the
3
P(»tr,
er**tt,
»bii.
kttfk
154,600
Mi$tt9Utt-
N*w York..... ...»»
103,700
37.396
18.380
29.222
82.761
8,190
7.219
S0.908
Boston
Montreal
„..
Pkiladeifkia.........
Baltimore
ftUkmond
New Orleans
....
.......
flawport News.......
Portland, Ma
Mobile
John. N.
St.
oerm,
49.450
45.411
8.690
18,795
36,669
36.176
18,000
18,296
16.163
6,200
9,000
'48,000
1.857
8,725
88,816*
264,112
543,913
Harlsf,
Oati,
*«!*.
268.94V
764
B
406.600
112.804
10,877
94.606
68,983
14,400
31,*.84
»•••••••
•••«••••
•m»*»9*»
.
1,256
1.050
10,010
2,400
"
81.000
i'8,084
•••••
..*
....
•••
•••
1,200
85,440
Total weak..
rTfcaat. ........
•
Bonds.
$2,000 Oln. Bluffcon & Ohio.
Ky. Oo. 5s
10
$1,500 University Club, N.
Y., 2d 5b, 1917....
90ifl
$1,130,000 Meroantlle Trust
Co., N. Y., reoelpt for payment on account of participation In Pittsburgh-Toledo syndicate, 30% paid. .100
14,384
bbll.
6.689,867
7,108,537
6,903,389
7,430,750
14,749.820
26,041.019
14.291,609
1,691,810
478,b9S
27,689,102
40,686,067
18.787,653
1.836.025
1,265,067
£9,167148
716,408
86.846.860
60.668.869
28,113,906
2,168,168
068,800
67,168.061
08.547,804
62,188.783
127.751.261
"
•9*m*fm»»»t
larley
tye.. •aeaaaaaaaaaaaa
"
7.169.345
13.70-i.830
1.395,604
The exports from the several seaboard ports for the week
ending April 80, 1904, are shown in the annexed statement:
Otrn,
Flour.
OaU.
bbls.
bush.
56,833
1,800
iuis.
York.....
Boston
127.888
68.366
81,591
14.684
Portland, MS. 48.000
Pklladelphla..
Baltimore
Saw Orleans. 184.000
26,714
110.800
66,719
96,080
13,187
7.818
20,908
764
To.alwaak..
•
i?M.
ausa.
Pias.
BarUv
but*.
»«. *.
••••••a
9,188
18,031
•••••••«
•••••••a
••••••••
856
3.725
1.857
36.440
1,200
120.791
366,996
94,527
168,713
88.615
861.815
487.821
21,601
>•«••*
•••a
••
••••••••
*•••••••
•••<*•••
••••••••
••••••••
•••••••«
••*>•<•
• a • e • • ••*
163,318
28,709
15,310
,
39,000
"ei.bo'6
Sametlma'08..1,623 047 1,985.732
13.031
27.342
The destination of these exports for the week and since
July
1,
1908, is as below:
-Flour.-
end einee
July 1 te—
Wtth
Sine* July
1,1003.
Apr.
Onltad Kini don
Jontlnant
. * 0. America.
Wast indies
• r. N.Am Colo's
30.
bblt.
Total
Total 1009-08....
bblt.
72,848
90,929
10.187
16,956
8.798.127
1,8*0,046
778.964
1,189,431
157.664
678.671
781
850
nker aovntrlaa
190.704 18,280.408
863.906 13.979 S89
r— — TFftsat. ——
Week
Sine* July
Apr. 80.
butk.
168.816
188,000
1,
1008.
btMA.
86,800.708
18,484,209
10,677
405,736
351.816 65,701,930
1,628.047 101,077.630
-Oorn.Bintt July
Wttk
Apr. 80.
1. 1003.
buth.
butk.
146.860 96,126.711
248.963 86.094.698
981.946
3,98i
802,411
31,960
149,884
11,800
1,190,151
701
487.831
1,935,733
63,844,303
60.126,398
The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
•aboard ports, April 30, 1904, was as follows:
insiariat««w York
Do
afloat...
...
Boston.
~~
Philadelphia
.~.
Baltimore
New Orleans* ...._„
Saiveaton
Montreal
roronto
nflalO
Do
Do
Detroit
Do
llisago
Do
Oarn,
Oats,
»««*.
»«sa.
kttsa.
ess.ooo
47,000
7,000
60.000
206,000
176,000
676.000
I30.ooo
36.000
352.000
978,000
768,000
'81.00*6
iV'e'.ooo
9,600
541,000
141,000
307,000
218,000
298,000
231,000
696,00*0
87,00:
'20.00*6
2,051.000
4,918,6*10
....
440,000
250,000
9,000
124,000
buth.
Barlat
kUMk.
152,000
855.000
68,000
219,000
'f'.'OM
37.C00
6,000
15,000
183.000
"6.666
'*
3.00*6
" 1.006
'45.00*0
"7,000
"1,066
2.248.6'o't
855,'o'o*6
i8d.o66
283,000
653,000
Tl'oOO*
458'.*o'«0
afloat
afloat
afloat
eoi.opo
176,000
4.C98.000
2.318.0O0
1,607,000
tfliwankae
0c
Whemt,
afloat
Toledo
«float
Fort William
Port Arthur
Do
:
28,868
bnik.
floni
Duluth
& Son
778.203
202,101
67,004 114,109
Week 1903............. 444,009 2.122.272 2,418,840 1,800.667
Total reoeipta at ports from Jan. i to April 30 compare as
follows for four years:
1901.
1908.
1B08.
tin tip t a/—
1904.
Export* for
378.746,084 373.068,606 374 ,690,096 870.919,188
160.000.00C 160,000,000 160,000,000 160,000,000
.
84,00(
•risk
In banks, sub-treas.,otc. 468 022.85H 469,480,464 461,267,616 458.961,816
liabilities.*.... 84,277,874 86,411,948 86,657,620 82.043,62b'
>
1.890
6,400
Same wk. '03.
Same wk. '02.
•
290.618,831 291,452.876 294,036.317 884,261.313
ie6.fi0o.774 162,606.617 168,058,353 162.729,007
5,777.747;
6,622,362
5,971.496
6,168,916
Stocks.
13,000
l
229.862.091 236,241,028 a4»,529,691 231,877.090
23. 123,068 20,320,240
18.613.628 20,778,332
t-8.897
65,067
133.806
67,324
8.P88.1969,868,476
6,903,945
6.278,146
18,664,03«» 14,040.247 10,116,696 12,715,566
10,483,124 11,417,618 11.646,932 11,852.686
3 Clinton Hall Asaoolat'n. 51
11 Adirondack Land & Inveatm't O
$23 each. $110
25 Mechanics' Nat. Rank. ..250
20 First Nat. Bank of OaBlnlDK, N. Y
105
400 Meohanlos' &. Traders'
199,800
6,600
153,435
274,600
tiobHa... ......
•
woo ceo>
Soioi °S
2*
A1 Boo
ceo at ,-lr
Q
Available cash balance.. .. 22«,74S.08«
•"Chiefly disbursing officers' balances."
1,200
95.878
•
D»dncionrrent
Gold reserve fnnd„
76,136
20,186
J«lvaeton
<d
Feb. 1,1904 Sfch.1.1904 Apr.l, 1904
Cash
63,293
W. John. N.B.
TREASURY WET HOLDINGS.
Cash In Sub-Treasuries
Cash In national banks
61,000
10,779
•
1011.
Net fractional silver
29,50(
68,000
. .
t-rH 0»05
000
cto
1
EH
Bol&inot in 8ub-Trea$urieiMetirold ooln and bullion
Net sliver ooln and bullion
NetO. 8. Treasury notes
Net legal-tender notes
Net national bank notes
77,000
14.000
Cleveland
St Louis ....
New
currency holdings of the Treasury on the 1st of February,
March, April and May, 1904. Statement for corresponding dates in previous year trill be found in Chronicle of
6, 1908,
141,500
6,700
.iwertj from- »u$h.
—
Treasury Currency Holdings.—The following compilation, based on official Government statements, indicates the
May
134,061
80.680
43,820
430.800
Detroit
ceo c-x
0)0)
ao
•
• •
cd
Q
--"» c-t-
MO
«l
*-»
t-=:
28,620
26,600
.
Toledo
3ats...
.
•
697.887
109,318
Minneapolis.
Jorn
•""CO
«i
«•••••
Rv«-
BujA.48 Ibi Bu.56
1,186,900
4,750
116,018
Nawn'rtNawa
rH
.Earlsy.
Oatf.
Bttsft.32lb.
80,800
Kansas
Corn.
BbU.196 Ibi ButKOOlbi Buth.^e Ibi
Duluth
i>eo
00"
10
Wheat.
riour.
Total aralD......
—1
^Hr^
rt
Milwaukee
04 Ot
OIO o>o
OS
10
at—
Receipt)
CO
r-l
CO
—
00
COO
0)co CBOt
coot ctce
00
•
•
:
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F-(
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WhohCIO
00 O (• 09 -^W
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09
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1
[Vol. Lxxvrn.
The
Breadstuff* Figures Brought from Page 1794.
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 April 80
and since Auk. 1. for each of the last three vears have been:
19O2-1908.....
°
~
CD -n r- O X O
OO ©r^r^« 0°
Cflt-IOiCO
WC9 i-h OIO CO
1
CO CO CO *— GB O*
CO l»
-I 00 t-
CO
01
CO
CD
^»
(000 omitted.)
(TfOcniOODCR
i
-4
O
w 00 a> sea 1^
—j
*
o»
5 tT « O
Vnt>OC4M O
CO
»o(-
**
"
1
^»
0DO00
»
o
ssooca
»i»"
—
voan
cocQoeo *o •0
XO*t-HH
—
ac « T» ao ao ««
»
*
-^0600
fHC*
-«•
.—
-*
a
gn.CQ CQ A
<D
*»
* »-.-* *
o«a> »
CD—.00 CO
§».x aoot
s
s
o»om SS
«09
^
CH«
»©» O
t»
&
©
000
j.
MfH
*
S-O)
CO
HO<
CO
«*o.oo
M»«
<•
*
<N —
m
»X»
a»»oo a
Sj
«
0Q I* J.
10
1
J
-«
l<c
wcsoo
n-«
^
.
.
60.000
18,000
2.144.000
191,000
629.0*0
14.000
123,000
1,027,000
50.000
81,000
3,000
790,000
14.000
's'68.'66'o
afloat
Minneapolis
3t. Louis
11.373,000
2,000,000
_ Oo
afloat
SansatOtty
••
lee.ooo
46.000
96,000
41,000
370,000
19,000
20.000
20.000
84,000
152,000
138,000
85,000
17,000
69,000
Total Apr. 30. 1904. 80,857,000
Total Apr. 88, 1904. 31,196,000
Total May
C, 1908.
88.456.000
Total May
88.328.000
1. 1902.
Total May
4. 1901.. ,46,668.000
7,830.000
8,886.000
6.450.000
6,248,000
18,666,000
0.100,000
0,912.000
6,826.000
8,980.000
12.628,000
1,036,000
1.048,000
1,149,000
1,611.000
B~614,000
8,858.000
1,242,000
093.000
606.000
Peoria
ladianapolls
1,000
in Mississippi Hlver
labakes
eanai and river.
si
•New
..
046.000
Orleans, last week's stocks; this week's notreoelved.
.
"
May
1
7,
THE CHRONICLE.
1904.
—
City Clearing House Banks. Statement of
oondition for the week ending April 30, 1904, based on average of daily results.
We omit two ciphers (00) in all eases.
New York
BANKS.
Loan*.
Surplus.
Capital.
Legal*.
Specie.
t
Deposits
lie-
1771
New York
City, Boston and Philadelphia Banks.— Below
of the weekly returns of the Clearing House
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.
summary
a
is
We omit two ciphers (00) in
Cap ital<£
ISA-N'KS
Loans.
Surplus.
all these figures.
Specie.
Legals.
9
9
De-
Circu-
posits.t
lation.
Clearings.
s' ve.
N. Y.
Bk. of N. Y.
Merchants'
Mechanics'.
America
Phoenix
...
City
Chemical ..
Merch. Ei .
Gallatin
1,000,0
300,0
700,0
500,0
5,000,0
25,000,0
3,000,0
422,7
Mercantile
Pacific
...
People's
...
...
450,0
200,0
2,000,0
3,000,0
..
1,000,0
2,550,0
N. America
Hanover
Irving
Citizens'
Nassau
Mar.& Fult.
500,0
1,000,0
1,000,0
2,000,0
750,0
1,500,0
3,000,0
250,0
3,000,0
300,0
10,000,0
1,000,0
250,0
200,0
750,0
1,000,0
100,0
200,0
200,0
300,0
1,000,0
250,0
1,000,0
200,0
500,0
300,0
1,000,0
1,000,0
500,0
350,0
8hoe<fcLthr.
Corn Exch
Oriental
.
...
Imp. & Trad
Park
East River
Fourth
Second
First
N.r.XtEi.
Bowery ...
N. Y. Co...
German Am
Chase
Fifth Ave ..
German Ex.
German ia ..
Lincoln
Garfield.
Fifth
Bk. of Met..
West
Side..
Seaboard
27(1,2
17,675,9
7,595,1
361,4
2,223,9
117,5
346,8
537,7
4,127,1
11,860,0
4.424.3
608,5
1,091,8
396,0
2,079,1
6,460,0
1,047,3
541,7
313,4
1,273,9
367,7
3,291,3
1,042,0
6,681,4
7,009,1
141,8
3,017,4
1,380,4
13,714,0
891, a
775,9
660,7
513,3
3,955,5
1,745,3
665,5
882,7
1,320,5
1,274,1
380,6
1,470,7
539,2
1,418,0
695,1
1,930,8
602,1
561,3
546,9
300,0
600,0
But. & Drov
Mech.&Tra.
Greenwich
Amer.Exch.
Commerce..
Chatham
2,536,0
2,399,3
1.413,9
3,262,3
3,502,4
2,000,0
2,050,0
2.00U.0
3.000,0
1,500,0
1,000,0
25,000,0
Manliat. Co.
..
latN.Ekiyn
Liberty
N. Y.Pr.Ex
New Am st.
Astor
P.O.
$
$
$
19.447,0
19,893,0
15,00^,4
20,363,
21,170,6
3,919,0
167,752,3
22,927,0
6.232.8
7.911.5
2,034,8
4,353,0
2,207.7
30,958.0
169,187,3
25,460,9
2,976,3
6,118,6
2,204,2
16,595,2
47,454,0
6,219,0
15,402,1
2,748,7
6,456,5
7,413,5
29.943,0
6,869,9
24,895,0
67,051,0
1,138,1
21,164,8
8,746,0
87,683,0
7,817,0
2,965,0
4,462,0
3,495.9
39,773,6
8,924,6
2,681,0
3,177,7
9,851,4
7,328,1
2,454,9
8,752,0
3,302,0
13,999,0
4,369,0
11,677,1
5,177,7
5,819,7
4,804,0
4,110,0 1,482,0 19,739,0 283
9,302,0 2,126,0 27,815.0 41-0
3,065,8 1,339,8 17,369,9 25-3
4,437,0 1,994,0 21,496,0 299
3,562,7 2,216,0 22,700,1 25-4
198,0
3.653,0 28 3
837,0
43, 686,0 8,400,9 176,031,5 29 5
6,470,1 1,884,5 23,864,0 35-0
690.5
6,853,2 29-0
1,109,5
5,622,8 J5-4
921,9
510.1
642.9
29,9
2,266,7 26-2
646,0
607,0
4,794,0 24-0
392,6
2,179,6 45-4
597,3
3,989,0 2,065,0 24,171,0 26-0
28,173,1 12,202,8 161,231,9 250
4,599,7 1,246,4 22,597,6 26 8
453,3
3,786,0 24-8
485,6
620,2
917,4
6,151,5 25-0
264,8
520,3
2,774,1 28-3
2,066,6 1,631,4 15,560,6 23-7
12,219,1 3.804.4 58,667,9 27-3
1,008,6
387,8
6,527,0 25-2
3,686,3 1,369,6 19,521,1 258
379,1
3,220,7 21-5
316,5
647,6
1.321,1
6,739,0 29-2
2,274,0
319,4
9,248,6 28-0
6,208,0 3,058,0 36,594,0 25-3
341,0
7,142,5 28-8
1,716,8
4.149,0 1,405,0 22,413,0 24-7
18,888,0 5,261,0 80,509,0 29 9
184,4
188,5
1,296.6 28-7
3,288,8 2,682,0 23,523,4 26-3
9,714,0 262
1,114,0 1,434,0
24,845,1 1,911.2 87,276,2 306
489.2
7,239,3 26-1
1,405,9
343,0
482,0
3,505,0 23-4
489,1
978,2
6,745.6 25-5
228,2
680,6
3,337,1 242
13,458,7 1,724,6 49,942,7 304
205.1
9,871,1) 27-3
2,492,6
680,0
185,0
3,501,1 24-7
423,0
976,4
6,403,9 25-9
768,1 1,812,9 10,120,1 25-5
292,1
1,695,2
7,524,3 26-3
493,1
123,6
2,611,8 23-6
978,0 10,695,0 2f4
1,638,3
790,0
409,0
4,652.0 257
2,907,0 1,508,0 16.490,0 26-7
575,0
671,0
4,610,0 27-0
2,562.7
240,0 10,600,7 26-4
373,6
982,6
6,523,0 24-5
970,7
775,7
6,841,7 25-5
1,147,0
328,0
6,113,0 28-8
.33,809.0 10496368
t
Total United States deposits included $56,212,700.
—
Reports of Non-Member Banks. The following is the
statement of condition of the non-member banks for the
week ending Apr. 30, 1904, based on average of daily results.
We omit two ciphers (00) in all sases.
71,193,2
72,838.2
75,389,*
Apr^'O 249,781,7 10496368 235,196,5 76,539,7
Capi-
Sur-
00s omitted.
tal.
plus.
Loans
<£
Invest-
Specie.
ments.
Notes.
Other Deposits
Agent. Bks.it c
Clear'g
Apr 16
Apr 23
Apr 30
$
100,0
300,0
100,0
200,0
200,0
250,0
200,0
200,0
100,0
100,0
100,0
200,0
100,0
100,0
200,0
400,0
100.0
100,0
Columbia
..
14th street.
Gansevoort.
Hamilton ..
Mt. Morris
Mutual
19th Ward
Plaza
.
Riverside ..
State
12th Ward
.
23d Ward..
Yorkvilie
..
Fidelity
Jefferson
..
Century ...
Wash. Hgts
United Nat. 1,000.0
$
226,9
266,0
112,0
78,0
120,2
118,9
178,3
204,0
248,2
102,7
671,8
103,1
93,6
271,4
119,1
271,2
58,7
129,7
114,5
Consul. Nat. 1,000,0 1,116,1
$
2,183,4
3,412,0
1,546,8
1,912,7
2,761.2
2,358,9
2,680,6
1,398,2
2,976,0
1,092,1
7,184,0
1,595,0
1,265,5
1,932,9
753,1
2,058,9
601,1
598,1
1,834.7
3,480,0
$
61,0
162,0
91,4
13,1
154,0
136,9
26,1
23,1
165,0
12,8
433,0
71,0
48,7
38.8
10,4
8,2
18,5
11,2
274,6
252,4
|
199,4
108,0
89,7
120,9
94,0
90,7
223,5
117,2
154,0
120,4
240,0
197,0
145,4
206,9
46,1
67,8
28,7
29,0
64,0
82,0
$
372,5
276,0
468,0
207,9
77,7
285,5
191,8
241,7
355,0
95,7
226,0
244,0
153,3
664,9
54,5
101,2
31,3
78,6
147,0
415,4
$
620,4
3,6
100,0
137,1
287,5
54,9
60,0
377,0
212,6
697,0
10,2
195,7
1,8
6,4
47,9
$
2,976,6
3,496,0
2,127,3
2,206,7
3,138,8
3,002,4
2,812,8
1,862,4
3,428,0
1,338,0
8,347,0
2,169,0
1,737,3
2,455,2
729,3
1,844,2
689,6
473,5
L406.9
425,0
2.576,0
Borough 0/
Brooklyn.
Broadway
Brooklyn
.
..
Mfrs.'Xat..
Mechanics'
Merchants'.
Nassau Nal
Nat. City ..
North
Side.
Peoples
17th Ward
SpracrueNat
.
Wallabout
.
Borough ...
Borough of
Bichmond.
lBtNat.,S.I.
150,0
300,0
252,0
500,0
100,0
300,0
300,0
100,0
100,0
100,0
200,0
200,0
100,0
200,0
326,7 2,119,1
156,6 1,541,6
530,9 3,063,2
376,9 6,765,0
58,9 1,046,1
743,6 4,859,0
587,0 3,283,0
171,4 1,080,6
177,0 1,332,9
623,3
83,2
256,6 1,144,0
110.7 1,154,3
755.5
76,7
85,9
1,590,1
23,6
51,6
271,5
215,5
10,6
200,0
137,0
12,4
47,3
10,5
106,0
43,1
60,7
16,3
181,0
417,8
94,2
322,1
71,6
763,9
647,3 1,250,2
67,7
134,2
381,0 1,004,0
361,0
806,0
66,2
32,0
165,0
190,9
453
77,5
25,0
207,0
86,3
118,6
32,9
45,5
124,9
174,7
24,5
50,7
226,7
10,0
20,0
223,0
171,0
102,6
60,8
30,0
455,6
104,6
48,9
2,398,4
1,745,2
3,754,2
8,873,3
1.167,7
106,1
736,8
67,4
400,0 1,040,8
3,528,3
185.5
250,0
250,0
200,0
648.8
277,9
287,0
2,137,3
1,150.4
1,225,1
80.9
58,9
56,9
68,3
16,2
72,6
288,5
231,8
729.3
136,9
14,0
4,9
1,905,6
1,065,0
1,837,5
110,0
125,0
526.9
147,0
2,324,6
1,161,5
144,2
33,9
24,0
30,2
152,3
58,8
230,6
175,0
2,332,6
1.296.1
100,0
10,0
148,3
National
.
Second Nat,
Third Nat..
;
FOREIGN IMPORTS.
For week.
1904.
Dry Goods
General Merchandise
Since Jan.
Tot. Apr 30 9,387,0 112799 86,246,9 3,835,0 5,206,2 136912 6,849,8 1004731
Tot. Apr 23 9,387.0 112799 85,624.5 3,978,8 5,097,8 125331 6,644,0 98,197,6
Tot. Apr 16 8,387,0 101638 81,997,7 3,641,8 5,097,6 123201 5,784,1 95,812,6
1902.
1903.
1901.
$1,655,942
8,319,176
$2,025,081
9,951,850
$1,963,708
9,778,753
$1,623,123
8,864,416
$9,975,118
$11,976,831
$11,742,461
$10,487,539
$44,266,477
159.197,222
$51,954,038
158,214,149
$44,973,099
144,083,390
$38,862,886
150,706,056
1.
Dry Goods
General Merchandise
Total 17 weeks
$203,463,699 $210,168,187 $189,056,489 $189,568,942
of dry goods for one week later will be found
our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending May 2, and from January 1 to date.
The imports
in
EXPORTS FROM
For the week
Previously reported..
Total 17 weeks
NEW YORK
FOR THE WEEK.
1904.
1903.
1902.
1901.
$9,157,870
156,695,338
$9,149,684
167,981,895
$9,637,940
155,329,377
$10,032,340
171.739,305
$165,853,208 $177,131,579 $164,967,317 $181,771,645
Note.—As the figures of exports as reported by the New York Custom
House from week to week frequently show divergence from the monthly
totals, also compiled by the Custom House, we shall from time to time adjust
the totals by adding to or deducting from the amount "previously reported."
The following table shows the exports and imports of
specie at the port of New York for the week ending April 30
and since Jan. 1, 1904, and for the corresponding periods in.
1903
and 1902.
EXPORTS AND IMPORTS OF SPECIE AT
NEW YORK
EXPORTS.
Gold.
France
IMPOBTS.
Since Jan.
Week.
........
1,
Week.
Since Jan. 2.
$10,346,713 $10,348,713
2,527,531
8,539,577
1,189,657
51,335
1,824,125
2,000
35,827
3.300
$2,047,346
698,332
1,149,880
127,108
41,371
476,771
27.727
$12,876,844 $21,955,407
534,000
3,029,839
41,607
16,849,751
$46,768
210,538
3,987
$4,468,535
2,631,469
1,072,760
$488,305 $13,906,598
301.559
2*5,800
25,800
138
105,717
$483
650
$1 ,905
$350
500
2,100
All other countries
Total 1904
Total 1903
Total 1902
Silver.
Great Britain
Germany
West Indies
Mexico
South America
7,291
3,474
600
1,850,800
8,653
4,600
514,243 $15,699,127
499,391
12,286,094
291,837
13.423,636
99,807
68,871
20.708
All other countries
Total 1904
Total 1908
Total 1902
5
7,767
78,488
172,921
64,956
1,937
$317,974
443,993
448,107
Of the above imports for the week in 1904, $7,281 were
American gold coin and $3,365 American silver coin. Of the
exports during the same time $1,752,600 were American gold
com and $
were American silver coin.
Auction Sales.
—See page preceding.
and
gatxlittig
Spencer
gfitmtxcial.
&
Trask
Co.,
....
Bankers,
WILLIAM & PINE STREETS,
NEW YORK.
Special circular carefully describing
the property covered by an Electric
Illuminating Company First Mortgage
Gold Bond, paying the investor S%.
6,300,9
Hoboken.
First Nat...
Second Nat.
109,329,7
113,269,9
100.797.7
—
752,7
807,3 1,949,8 1,633,0
228,485,0 10,928.0
229,451,0 10,894,0
228,593,0 11,001,0
125,1723
Imports and Exports for the Week. The following are
the imports at New York for the week ending for dry goods
April 28 and for the week ending for general merchandise
April 29 also totals since beginning first week January.
JkbseyCitt
First Nat...
130,638,1
116,271,9
;
5,33a0
4.S66.0
1,121,5
1.644,2
655,7
1,183,0
1,550,2
820,9
1,749,4
7,238,0
7.216,0
7,061,0
•'
due to other banks,
t Including for Boston and I'luladelphia the item
and also Government deposits. For Boston these Government deposits
amounted on April 30 to $5,065,000 on April 23 to $5,067,000.
Mexico
South America
Colonial
5,246,0 208,54«,0
5,501,0 211,169,0
5,653,0 207,247,0
64,050,0
65,934,0
65,020,0
48,167,1 189,544,0
48,167,1 189,168,0
48,167,1 190,020.0
West Indies
N. Y. crrr.
Boroughs or
MandJSr'uz
*
$
35,622,8 1,155,994,1
35,314,2 1,142,203,1
35,725,0 1,103,616,6
35,768,7 983,976,7
I'lula.
Leg. T.
&Bank
10855128
10971184
11093744
11143678
Ron.
AprlO 52,635,4 172,451,0 17,385,0
Apr 23 62,635,4 172,751,0 17,062,0
Apr 30 62,635,4 168,811,0 16,644,0
Deposit with
BANKS.
t
Apr 9 249,851,7 10385330 223,101,4
Aprl6 249,851,7 10432541 228,746,0
Apr 23 249,781,7 10463903 236,157,5
Members
INVESTMENT SECURITIES.
Branch
state
N. V. Stock Exchange.
Moffat
Office. 65
&
St.,
Albany.
White,
Members New York Stock Exchange.
1 NASSAU STREET. CORNER WALL,
i>ealers in Investment Securities.
TeL 582C-5821 Cortlandt.
TeleeUone Stock* a Specialty.
:
THE CHRONICLE.
177'2
[Vol. lxxyiii.
The following were the rates for domestic exchange on
cities to-day: Savannah,
12^o. per $1,000 premium; Charleston, 25c. per $1,000 premium; New Orleans, bank, par; oommerolal, 50@25c. per
For Dividends see page 1769.
Chicago, 35c. per $1,000 premium; St.
$1,000 discount
Louis, 45c. per $1,000 premium; San Francisco, 50c. per
WALL STREET. FRIDAY, MAY 6. 1904.-5 F. M. $1,000 premium.
The Money Market and Financial Situation.— An interState and Railroad Bonds. No sales of State bonds have
esting feature of the security markets this week has been been reported at the Board this week.
The market for railway bonds has shown increasing activa steadily increasing demand for railroad and other bonds
concurrent with decreasing activity in the shares depart- ity and the tone has been generally firm throughout the
week. The daily transactions have not been large, averagment. This is especially interesting in view of the fact, ing but little more than $ 2,< 00,000 par value, but these have
which will be readily recalled by those who have watched been well distributed, including a relatively large number
the course of the market during recent months, that while of issues and a fair proportion of high-grade issues.
United States Steel 5s have been conspicuous for activity,
the tendency of stocks has for some time past been generand
including the interest which came off on May 1st are 5
ally towards a lower level, the quotations for bonds have in points lower
than last week. The Central of Georgia issues
most cases as steadily advanced.
have been unusually active and strong features, the 2d in"Whatever may be the cause for this, it suggests that the in- comes showing a gain of 1)4 points. Pennsylvania convertivestment demand and speculative demand for securities have ble 5s also advanced nearly 2 points on limited sales. Atchison, Baltimore & Ohio, Burlington & Quincy, Rock Island
changed relative positions, and that for the moment at least and Northern Pacific bonds have fractionally advanced.
the investment demand is the more prominent. This view Wabash debentures were weak.
is strengthened by an event outside the Stock Exchange
United States Bonds.— Sales of Government bonds at the
which attracted considerable attention this week. We refer Board include $10,000 2s, reg., 1930, at 105^; $3,000 4s, reg.,
to the sale of $37,000,000 New York City bonds, the bids for 1907, at 107, and $2,C00 4s, coup., 1907, at 107. The following
are the daily closing quotations
tor yearly range see
which were several times the amount of the issue.
third page following
has
shown
firmer
tendency,
although
a
The money market
Interest Apr.
May May May May May
rates for actual business have not materially changed. Gold
Periods
3
4
30
6
6
exports for the week amount to |9, 276, 448, making the tota*
%mxktxz
9
(Bxzzttz.
New fork at the under-mentioned
;
—
;
of the current
movement
to date $28,136,600.
The open market rates for oall loans on the Stook Exchange
daring the week on stook and bond collaterals have ranged
from % to lJi per cent. To-day's rates on oall were 1 to
\% per cent. Prime commercial paper quoted at 3?4 @4 per
oent for endorsements and %%®fyi p. c. for best single names.
The Bank of England weekly statement on Thursday
showed a deorease in bullion of £663,535 and the percentage of reserve to liabilities was 47-68, against 49*60 last week;
the discount rate remaining unchanged at 3 per cent. The
Bank of France shows an increase of 50,350,000 francs in
gold and a decrease of 425,000 francs in silver.
The New York City Clearing-House banks in their statement of April 30 showed an increase in the reserve held of
$188,900 and a surplus over the required reserve of
$83,144,250, against $34,203,700 the previous week.
2s, 1980
registered
Ss, 1930
ooupon
2s, 1 930, sma J. registered
2s, 1980, small
ooupon
registered
8s, 1918
Is, 1918
ooupon
3s, 1918, small. registered
-Jan
-Jan
1061, '105i« loe^ -106
'105 4 '106i« '105
106
105
106
106
105
-Jeb
-Feb
-Feb
-Feb
-Jan
-Jan
-Feb
-Feb
*106^ *106
106
106
*106
-106
106
'106
*107>«
106
106
•105*
106'
ooupon
i05* *ibT*
*ib*6">» **105
registered
107
1907
107 *107
*107»a *107i« 107
ooupon
107*8 107 •107
1907
•107H *107>« '107
*183>« *13S
'183
registered
1925
132S '182>a 1824i
ooupon
1925
1S4 1* 3183 183 *132V*182%»132is
*Thls is the prioe bid at the morning board; no sale was made.
1918, small
8s,
4s,
4s,
4s,
4s,
Railroad and Miscellaneous Stocks.—The stock market
has continued dull and generally featureless. The volume
of business steadily declined from over 300,000 shares on
Monday to about 131,000 to-day, and all classes of stocks
showed a tendency to lower prices.
There were a few exceptions to the general trend of the
market; including North West., Rock Island preferred and
the "Soo Line" issues, which advanced a point or more, and
Canadian Pacific, Union Pacific and Manhattan Elevated,
which have been relatively strong. On the other hand,
Differences
1V03
W04
Metropolitan Street Railway declined 3^ points, and St.
from
Apr. 30
May V
May 3
Paul, Southern Pacfic and Reading were notably weak.
previous %oeek
Industrial stocks have occupied a negative position in the
115,972.700
109,822,700
Capital
83,622,700 market, and all the active issues are lower than last week.
138.809,000
129.181,800
Surplus
103,666,700 There has been, however, a fair amount of business in United
Loams * disoounts 1,049,836.800 Ino 8,246,500 914.079.000 904,162 600 States Steel on liberal offerings, with the result that the
Circulation.....
36,768.700 Ino
48 686,000
48,700
31,049,300
Jfet deposits ...... •1,114.807,800 Ino 4,993,400 •906,760,200
968,189,600 common sold below 10 and the preferred below 55, both
Specie
336.196,600 Deo
961,000 167,438,300 173,850,400 near the lowest quotations of the year.
Both close fractionLegal tenders
76,639.700 Ino 1,149,900
70,183,600
76,681,000
ally above the lowest. General Electric continued weak on
Reset-re Held
811,786,200 Ino
188,900 237,621,900 249,581,400 the comparatively unfavorable annual report, selling also
16 p. 0. o! deposits 278,691,960 Ino 1,248,360 226,440,060 242.047,400
within a fraction of the lowest this year. Anaconda Mining
33,144,260 Dec 1,069.460
Surplus reserve
11,181.860
7,484,000 has declined 2*4 points and Consolidated Gas lost a part of
'$56,212,700 United States deposits included, against $56,206,500 last its recent advance.
week and $87,268,400 the corresponding week of 1903. With these
For daily volume of business see page 177S.
United States deposits eliminated, the surplus reserve would be $47,197,425
following sales have ooourred this week of shares not
The
and
«48,255,076 on April 23.
on April 30
Not*.— Returns of separate banks appear on the preceding page.
represented in our detailed list on the pages which follow.
Foreign Exchange. The foreign exchange market was
Sales
STOCKS
Jiang e /or Week
for
Range sines Jan. 1.
dull this week and fluctuations were within a very narrow
Wee/c Ending May 6
Week
range; gold exports to Paris were $9,276,448 56.
Allls-Chalmers Co, pref.
800 40 May 6 40 May 6 89>aMai 64 7s Feb
To-day's (Friday's) nominal rates tor sterling exchange Cent
A So Amer Teleg.. 150 108 May 3103HMay 3 103 May 108 34Apr
were 4 85^@4 86 for sixty day and 4 87J^@4 88 for sight. To- Comstook Tnnnel 1st Income 4s stamped
•12 May '12 May
10,000 '12 May 2 '12 May 2
day's (Friday's) actual rates for sterling exchange were
Detroit City Gas
30u 73 Apr 30 78 AprSO 72»aApr 76 H Jan
8490
®4
for
long,
85
4
4
8695@4 87 for short and 4 8715® Genera) Chemical, pref.. 200 94 May 8 94 May 4 94 Feb 96 Mar
100 186>*May 6 186»sMay 6 182 4Apr 1884May
4 8725 for oables. Commeroial on banks, 4 8465@4 8475, and Morris & Essex
Enara * Stamping.. 200 18 May 4 18 May 4
17 Jan 21 Jan
documents for payment, 4 84@4 85. Cotton for payment, Nat
United Fruit Oo
600 108 Apr30 110 May 6 96 Feb 110 May
4 84@4 843^; cotton for aooeptanoe, 4 8465@4 8475, and grain
—
1
for
payment,
4
84% @4
85.
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 17K*@<5 1?K 'or long and 5 15%f@5 15% for short.
Germany bankers' marks were 94 15-16@95 for long and
95 5-16@95%f for short. Amsterdam bankers' guilders were
40^1[<340 8-16* for long and 40%*@40% for short.
Exchange at Paris on London to-day, 25 f. 11 c; week's
range, 25 f. 11 c. high and 25 f. 11 c. low.
The week's range for exchange rates follows :
-Long
-Bhort.-
-
HUr Ling Actual—
* 4 85
8490
»H6
Pari* Bankers' Fro net—
High...
I
Low.
4 8496
4
4
4 8690
High... 15 17Sj*
Low... |6 18>.
Germany Bunker
9
9
/,'
6 17»q
6 17»i
6
HtiltB
9
15V 9
V 9
• 15
4 8720
4
4 87
4 8716
4 8726
I
I
8725
16V
Marks—
;
I
«*8» Of
1%
;
;
9
94"k 9
94"io
I
.
;
&
5 15<t
96
96»„
a 96V
96
a 96V
Amsterdam Bankers' Guilders—
High...
40\
9 40V*
40»i«* 9 40" lB
Low...
9 40»n»
40 mi
40V 9 40",
1MB: » »n of 1%. \ i M of 1%. t « of 1%. Plus fl i„ of 1%. •*
High...
Low....
little interest has been manifested
for unlisted securities this week. Trading has
been extremely light, and prioe changes as a rule have been
narrow and unimportant. Dealings in Northern Securities
stock have been on a very small scale, total transactions for
the week aggregating, it is estimated, only about 3,500
shares the price of these shares moved irregularly between
99% and 99, closing to-day at 99J^. The price of Standard
Oil ranged between 626>£ and 623
the last sale to-day was
at 625.
Brooklyn Union Gas debenture 6s declined from
1943^ to 187^. Considerable excitement developed to-day
as a result of a drop of 27 points in the price of Light, Fuel
Power of West Virginia stook opening transactions were
reported to-day at 46K@46^ but later stock was sold at 20
and 193^ for cash subsequently, however, sales were made
at 47 and 48 regular way. Greene Consolidated Copper was
the most active stock on the list
the price of these shares
fluctuated between 15% and 16}^, closing to-day at 15^.
"White Knob Copper declined from iyz to 7, but at the close
to-day it recovered to 1%.
Outside quotations will be found on page 1773.
market
;
-Cablss.-
4 87
6
Outside Market.— Very
in the
M
:
i
M of 1%,
4
'
New York
Exchange— Stock
Stock
4
2
5
.
.
Record, Daily,
41
Weekly and Yearly
OCCUPYING TWO PAGES
STOCKS— HIGHEST AND LOWEST SALE PRICES
Monday
Saturday
April 30
24
*24
27
66
•52
724
•52
72=9
93 4 934
79*8 79 4
72
924
784
•90
40=8
45 V3
•116 123 *115
•132
•132
ii634 ne* 116
•04
*64
65
•158 160 *168
31
31
30b
*38
38 34
38
•81
•Sib 82
•180
•180
•124 140 •124
16
16
154
•85
•85
90
•67
69 s< •67
40
•27
143---
8
.•176
-1170
luesaay
May 3
May 2
•24
•52
27
56
72«e
trcanesuay
•24
•52
27
56
92«8 93
784 794
904 904
4.">4 464
90 34
46 H2
123 •115
»132
123
724
93
92 34 93
7834 7 9 V,
90 4 90 4
•115
•132
123
794
904 904
45=4 46 4
:
.
•04
65
{157 157
30 4 30 4
38
38
•81
82
•180
*124 140
15 34 16
•843g 90
•135
140
175
171
8V,
18*4
6
32
83s
•17V,
5 34
140
175
8%
18 34
6^4
•135
175
•34
94
83*
8*4
6=4
•84
19
•56
«70
60
78
•40
51
•170
180
*56
•70
•40
60
78
170
180
61
•56
•70
•40
•170
•30
108
37
29
68
35
35
18
52
•164
•47
•35
•24
674,
194 *18
35
37
29
674
194
35
•164 18
•47
52
•284 284
•34
*22
•67
17 34
-344
*15
•47
283b
•90
•250
•47
275 •250 275
•48
61
*48
51
J*
107 107 V; 10041074 1064
'142 4142 4 1424142 4 142 4
"77
794 76
774 •75
108=8
1124112 4 109 112
•250
744
120
•17 4
•54
•30
•70
*135
140
ISO
*171
9
1834
6
31
744
108
Central of
New Jersey...
120
•84
•17
9
18=4
4
-54
&
Pacific
Chic. Rock lel'd
Om.
Chic. St. P. Minn.
Chicago Terni'l Transfer.
Do
pref
Chicago union Traction.
•30
314
Do pref
70 4 704 Cleve. Crn. Chic. & St. L.
•108 120
Do pref
164 164 Colorado & So., vot. trust
6
25
•16
19
62
8
94
4
70
60
78
•40
61
70
40
130
•170
26
•84
94
&
Des Moines
51
lao
7934
81
79
130
79
130
•IS
4
813041304 130
•174 19
184 184
36
29
68
•34
•21
36
28
68
*66=8
•17=8
60
78
Evansv.
61
Ft
•120
•46
•85
7V,
7
1284 120
74
135
65
95
65
93
•47
•85
61
•604 614
7
•120
•40
ctfs
180
pref
WorthcfcDen. C.,stmp.
Great Northern, pref
Green Bay«6W.,deb. ctf.A
19
•06=8
•17 a4
62
•47
344
36
28
68
*22
79
IADo
B
deb. otf.
"Valley
pref
130*8 Illinois Central
19
JLowa Central
344
Do pref
28
68
•66=8
17"anawna
&
Michigan..
IVc.Pt.S.<fcM.,tr. cts. pfd
•174 19 Kansas City So. vot. tr. ..
{354 354 •344 354 •344 35=8
Do pief. vot. tr. ctfs.
•15
•15
*15
17
17
17
Keokuk & Des Moines...
17 34
35
17
62
•47
19 4
*47
52
Do
52
29
105
275
50
pref
1" ake Erie A Western .
•90
275 •250
L. Shore & Mich. South'n
•47
50
Long Island;
3
10641074 10741074 107 4107 , Louisville & Nashville...
142=8 142 34 {14341434 142 41434 \/I anhattan Elevated...
•75
•76
80
80
76
764 i'-letrop. Secur., sub. rec.
109 411034 109 110 34 1084 1094 Metropolitan street
•284 29 4 •284 29 4 *28
2 8i,
•90
•250
•47
1074
142 4
79
110
84
100
275
50
74
•125
135
50
tr.
& Terre Haute..
Do
134 •124 134
Do
*654 674 *65
70
ITocking
3
•654 67
{81
•56
•70
•40
•173
60
78
•90
•250
•47
105
.
West Side
Do pref
Met.
7
Dodge.
Ft.
Detroit South. vot.
13
13
12»4
•34
•23
60
•56
•56
170
105
275
•18
•17
17
17
19 4
Do pref. vot. tr. ctfs.
•614 623g
624 624 Detroit united
•74 8
•74 8
•74 8 Duluth So. Shore & Atl..
•114 13
•114 13
*114 14
Do pref
.
24% 24=8 244 244 244 244 T?rie
634 63=8 634 «3=8 634 634 Ei Do lstpref
3834 3834 *384 394(
38=4 3834
Do 2d pref
134
244
634
384
60
78
50
180
•16
24
•8 4
94
•17
184
*613e 624
24
•84
94
.
'
&
164 164
524 62 4 5'2 4 •524 53
{524 624
Do lstpf. vot. tr. cfs.
•214 22 4
22
224 224 224 22 V,
Do 2d pf. vot. tr. ctfs.
157 1574 *156 157 4 PlelawareA Hudson
J57
157 158
7
•2704271 •2694271 l^elaw. Lack. & West'n.
27o e •270 272
214 •20
214 •20
214 Denver* Rio Grande
214 •20
•684 70
70
•694 70
•684 70
Do pref
•154 154
•804 814
•35
•24
•67
•18
•84
31
15 34
•65
64!
140
180
6
744 *70
120
137
•135
{171
18
"5 34
31
{21642154
{137
94
18
5 34
124 124
68
67
674
804 80% 78
80*8
13041304 13041304 130 41304
•174 19
•174 19
•174 19
68
140
180
•84
"84 94
•174 18 34
194 •17
4 •17
624
•613s 624 •613a 624
•74 8
•74
•74 8
•114 144 *114 144 •114
244 25 4 23 =8 244 234
63 4
63
634 63=8 63
384 38=b 374
38 34 38 34
,
•135
•171
140
175
Santa Pe.
Chicago Burl<fc Qulncy..
Chicago & East. 111., pref.
Chicago Great Western..
Do 4 p. 0. debentures
67
H7
Do 5 p. c. pref. "A"..
28 4 284
Do 4 p. 0. pref. "B"..
142=e 1424 Chicago Milw. & St. PauL
3
?175 4 1753,
}170 170 Chicago & North Western
;!
215
<fc
*132
-64
'157
•30 4
•30 4 32
•30
•73 4 74V, •734 744 72 4
•108
•110 120 •108 111
16V,
15 34
164 164 16
•53
523g 53
54
524
224 22 4 22 V, 22 V, $214
166
15741574 156 157
27o 34
269 4 2694 269 272
•20
»20
21
20
20
•684 71
*694 70
•684
•18
•18
•18
25
25
•17
46 4
123
•132
•64
•64
65
65
65
159
•1674159 •157 159
3
30=,
30', 30 4 •304 304 30 4 30 3<
384 37=8 :<8V, 37 34 37»4 37 4 37 4
•Si
83
84
814 814 *S04 82
•180
•180
183 •180
•124 130 •124 140
•124 130
140
15=8 16
15 4 15=4
16
154 10
•84-4 90
-85
90
•844 90
BO
•67
09 34 •67
67
6i' 4
674 67
•27
27
234
284 27*8 274 274 '^7 4 {27
a
3
143=4 14241434 142 8 1434 143
143 4 14241433s
•175 176 34 { 175 34 175=4
177
176 170 3177 177
•169
•169
172
17U 417134 171 34 17134
170
172
116«i
65
160
Topeka
93
79
{91
91
4589 46 4 Brooklyn Rapid Transit..
*115 123
Buitalo Roch. & Pittsb'g.
784
U74H7V,
««4
•54
72=8 Atch.
pref
84
140
•404 55
74
•125
•41
•85
74
734
74 Mexican
140
55
90
130
•42
•85
62
119
•17
130
55
90
62
119
60
91
•56
60
El. (Chic.)
Central
Michigan Central
Minneapolis <& St. Louis.
•85
90
Do pref
604 614 614 62 4
Minn. S. P. & S. S. Marie.
•115
118
118
•116 120
120
Do pref
17
17% Mo. Kansas & Texas
17
174 174
17
174 *16 34 174 •164 174
•364 37
•364 37
•364 37
37
37
364 364 "364 38
Do pref
91=8 '924
92 4 93*8
914 92
92
924 9134 924 914 91=4 Missouri Pacific
•1084110 •108 110 •107 110 •107 110
10941094 XT ash. Chatt. <fc St. Louis
•36
•36
*36
38
38
384 *36
38 1* at.of Mex, non-cum.pl
384 •36
384 •36
•1734 19
1734 1734
*174 13
*17=4 10
174 174 •174 18
Do 2d pref
'•11541164 115 1154 115381154 1154115 34 115 116=4 115 41154 N. Y. Central & Hudson.
•26
*25
•26
•26
28
28
29
274 •26
274 N. Y. Chic. & St. Louis...
274 28
•100 110 •100 110 •100 110 •100 110 •100 110
105 105
Do lstpref
•60
•60
•60
*58
•60
•60
65
65
65
65
604
Do 2d pref
3
3
•188
•188
189
•18841884
•18841884
{187
1884
4188 4
N. Y. N. Haven & Hartf
4
J188413834
21=
213„
214
214
21=%
214
214
214
214
214
Y.
Ontario & Western.
N.
213a
213s
8
57
57
66 34 67
57
67 4
56 58 564 {574 574
564 67 Norfolk & Western
•88
•88
89
{89
89
884 88
89
88
{874 874 •88
Do adjustment, pref.
53»4 5334 •534 57
•53
5334 533.,
•534 56
57
644 544 pacific Coast Co
•85 100
•85 105
•85 100
•85 100
•85 105
•86
IT Do lstpref
100
•63
•63
66
•634 67
*u;s
66
Do 2d pref
6fl
644 644 •634 66
117=8 1174 1174H7 7 8 1174118
117=81184 *114 1154 11341144 Pennsylvania
'17
•17
•17
•17
•17
20
19
20
20
20
Peoria & Eastern.
78
7836
78
79=8 79=8 •79
80 Pore Marquette
784 79=8 79=b *78
80
61
i
116
116
•85
90
60
116
116
604
,
!
(>.">
•58
•91
62 4
93 4
44
44«e
•56
•92
624
93 4
60
•92
4234
60
•57
934
914 914
484 4834
•784 7834
60
•56
91
43 4
Do
pref
Pitteb. Cin. Chic.
Do
914 914
434 43 34
<fc
St. L.
pref
434
p eading, vot'g tr. ctfs..
•784 V8
•784 78 34 {78 34 78 3
JLVlst pref. vot. tr. ctfs...
79
784 784 {79
•61 76 02 4
•604 60 4 {62
62
2d pref. vot'g tr. ctfs.
614 61
{614 614 •604 62
224 22 4 22
22=8 234 Rock Island Company
22 4
22
22 4 22=e
22 4 234
22 4
03 4 63 =8
63 4 634
62=8 03
Do pref
664 654 67 4
684 654 65
:
424 44 4
433s
',
.,
Rutland, pref
-8
•37
•17
10
41
20
•8 4
9
*36
41
•16
20
•8
•35
-16
94
38
9
•35
19
•16
•8*4
9
•35
•16
39
19
t. Joseph &Gr'd Island.
94 C<
•"j
39
Do
lstpref..
19
Hiyhest
Lowest
Shares
92=4
1174117=8 1174117=8
1164117
214
•17
45=8
115
A-Do
Year 1904
Range ror Previoui
100-share lots
Year (1V03)
lor
0/
Week
EXCHANGE
6
27
56
724
72=8
the
STOCK
Railroads.
•24
•52
27
56
72=8
724
•
•185
•170
•24
*62
27
56
May
{93
79
714 724
98
79V,
j'riaay
May 5
May 4
Range
On basis
STOCKS
NEW YORK
I
Lowest
Highest
27 Jan 22 11 Jan 22 25 Dec
{52 April {54 Feb 1
54 4 Dec
44,899 64 Feb 2
754 April 54 Ang
2,273 87=8 Jan 6 944 Apr !- 844 A up
21,317 724Marl4 854 Jan 27 7 1 =8 Sep
667 87=8 Feb 19 92 Jan 28 8234 J'ly
41,870 38 Feb 24 52 4 Jan 2 29 4 Sep
1184 Mar 2 127 Jan 12 121 Nov
140 Sep
5,275 109 4 Marl 2 1214 Jan 22 115=8 Oct
64 Apr 29 684 Jan 2 57 4 Sep
42 154 4 BW20 163 34 Jan 19 153 Oct
36 Jan 28 274 Nov
1,790 28 4 Marl
1,200 33 Jan 16 40 Feb 6
184 sep
125 75 Jan 2 854 Jan 21 60 Sep
{181 Jan 18 ?1S2 Jan 14 {170 J'ly
......
12
Feb 11
1
I
L36
Mar 2
106
J'ly
Jan
Jan
41
ii^'
J
an
L034 Jan
104
Jai.
1
4 Feb
150
ffeb
7
160 FeO
138 34 Feb
7h 4 Jan
Jan
190
534 Jan
37 4 Jan
754 Dec
}184 Mar
1384 Jan
"3 Jan
1
22 13 Aug 29-4 Jan
4
s6 4 Apr 12 S3 4 Sep 904 Jan
40
200 65 Feb 25 71 Jan 23 63 Oct 85 4 Jan
550 254Mar21 31 Jan 21 24 Sep 46 4 Feb
42,154 137 4Feb24 1434 Jan 22 133 4 Aug 183 4 Jan
265 173 Mar 4 ISO Aprl2 68 Aug 194 4 Jan
1,608 1614Marl4 1724Mar29 153 Sep 224 4 J an
233 207 Fob 8 215 May 4 190 Aug 250 Jan
14 {137 May 5 J 137 May 7 132 Oct 200 4 Jan
135 Mar22 145 Jan 21 117 J'ly 162 Jan
100 {165 Apr 28 176 Jan 6 {165 Nov 194 Jan
120
84 Feb 24 1234 Janl5
8 Aug 194 Jan
100 18 Jan 2 264 Jan 16 15 Sep 30 Jan
3 May 174 Jan
200
4 4 Feb 20
74 J an 4
29 4 Feb 23 33 34 Jan 18 30 May 50 34 Jan
100 704 Way 6 8034 Jan 22 66 Aug 99 38 Jan
100 Feb 8 1104Marl4 112 Dec 119 Jan
1,340 14 4 Feb 23 19 Jan 12 10 J'ly 314 Jan
696 52 Feb 23 584 Jan 25 44 4 Aug 72 Jan
990 22 Feb 23 28-4 Jan 22 17 Aug 48 Jan
4,710 149 Marl2 168 4 Jan 22 149 Aug 1834 Feb
320 2504 Feb 23 27534 Apr 7 230 J'ly 276 4 Jan
500 18 Mar 14 234 Jan 22 18 Oct 43 Feb
64 4 Feb 24 74 4 Jan 22 62 Nov 90 4 Feb
19 4 Jan 7 24-4 Jan 22 12 Sep 47 4 Jan
734 Aug 204 Jan
8 4 Apr 13 14 34 Jan 23
100
100 1634 Apr 14 29 4 Jan 25 14 Nov 39=4 Jan
Feb25
600 61
67 4 Jan 22 65 Oct 90 Jan
7 4Aprl4 104 Jan 22
7 Aug 194 Feb
114Feb29 1634 Jan 23 10 Nov 294 Feb
45,260 22 Feb 26 294 Jan 2 23 Aug 42=8 Jan
62 4 Apr 74 Feb
6,880 61 4 Feb 29 69=4 Jan 27
3,030 374 Feb 29 50 4 Jan 2 44 J'ly 644 Feb
57 Apr20 66 4 Jan 27 394 J'ly 724 Jan
72 Feb 23 72 Feb 23 78 Aug 91 Jan
52 4 Feb 4 54 Feb 3 31 Sep 74=4 Feb
170 Marl 7 186 Mar23 160 Oct 209 Jan
72 Mar24 794 Jan 7 73 Dec 85 Jan
35 114Feb26 154 Apr 6 10 Aug 27 4 Jan
GOO 67 May 3 77 4 Jan 22 63 Sep 1064 Feb
77 Oct 994 Mat
1,383 77 Marl2 85 Jan 7
2,602 125=4 Feb 24 134 34 Jan 28 125 4 J'ly 151 Jan
100 17 Feb 18 224 Jan 8 IS J'ly 48 Jan
100 32 Feb 25 42 Jan 14 30 4 Oct 77 3 t Jan
25 4 Oct 47 4 J an
25 Mar23 29 Jan 2
loo 65 Feb 8 70 4 Apr 12 62 4 Oct 82 34 Feb
100 164Feb24 21 Jan 21 16 4 Oct 364 Jan
350 31 Feb 29 38=4 Jan 19 29 Oct 614 Jan
104 Jan 11 1938Aprl2 10 Oct 40 Mar
45 4 Apr 7 52 Apr 12 48 J'ly {55 Apr
350 26 Marll 304 Jan 25 23 4 Nov 53 Jan
{89 Jan 16 95 Feb 23 89 Nov 118 Feb
Dec 334 4 Jan
{271 34Feb24 {27134 Feb24 275
49 Mar23 55 4 Jan 2 49 Dec 83 Jan
Feb 23 1114 Jan 22 95 Sep 1304 Jan
3,076 101
6,740 13934 Marl 2 146 4 Jan 22 1264 Sep 155 4 Jan
1,000 724Marl4 92 Jan 21 70 4 J'ly 1284 Jan
48,550 104=4 Mar 14 124 Jan 2 99 4 Sep 1424 Jan
16 Jan 15 17 4 Jan 4 17 Dec 38 Jau
45 Mar 9 550 Feb 5 51 4 Dec 88 Jan
S 4 Nov 29
5 Apr 23 14 4 J an 11
Mar
12,535
100 41194 Feb 1 138 Feb2H 102 May 135 Jan
Oct 110 Jan
61 Febl8 6734 Jan 18 41
90 Jan 6 9l 34Jan21 83 Nov 1 8 Feb
2,820 55 Jan 4 67 Jan 20 42 Aug 7'.i4Feb
400 116 May 2 12t;34 Jan 28 1094J'ue 132 4 Feb
600 14=e Feb 24 19 Jan 21 15 4 Oct 304 Jan
300 35 Feb 23 42 4 Jan 22 33 Oct 63 4 Feb
10,320 87 Feb 24 954 J au 22 85 34 Aug 1154 Feb
100 10l4Feb24 1244 Jan 11 85 Oct 133 4 Deo
3434 Feb 25 41 Jan 11 34 4 Mai 47=8 May
200 154 Feb 25 214Jan 8 17 Nov 2S4J'ne
3,900 112 4 Marl 122 Jan 8 1124 J'ly 156 Jan
200 25 4.Mar 7 32 V, Jan 23 19 4 Sep 45 Jan
100 105 May i> 108 Jan 21 100 Oct 118 Jan
63 -Ian 19 69 Jan 26 50 Sep 87 Jan
208 {18734 May 6 196 Jan 23 U874 May 2254 Jan
4,518 193gMarl4 24 4 Jan 25 19 Sep 35 4 Feb
2,070 53 4 Mar 12 62', Jan 28 63 34 Nov 764 Feb
175 88 May 6 90 Apr 12 85 Aug 93 4 Fob
600 51 Feb 24 56 4 Jan 22 3934 Sep 72 Jan
80 J'ly 100 Feb
100 614 Jan 12 674 Jan 22 504 Aug 76 Jan
96,456 1114 Mar 12 123 4 Jan 27 11034 Nov 157=8 Jan
17 Mario 2;; 4 Jan 22 15 J'ly 39 Jan
1,000 75 Feb 24 814 Jan 23 74 J'ly 91 4 May
{74 Dec {76 Sep
100 55 Apr 20 6H34 Jan 22 55 Sep 94 Jan
00 April 98 J an 22 90 Oct 115 Jan
41.275 3834 Marl4 48 Jan 25 374 Nov 69 4 Jan
150 70 Mar 1 81 Jan 25 73 Sep 894 Feb
66 Apr 14 55=4 Nov 81 Jan
350 55 4 Feb 2
34,640 19 4:Mai 11 27 4 Jan 22 19 4 Aug 53=8 Jan
19,540 57 34 Jan C OS 4 Jan 22 5534 Sep 86 Jan
30 Apr 22 38 4 Feb 9 30 Aug 72 Jan
7
Oct 1 5 4 Jan
9 Marl5 14 Jan 23
100
36 leb 9 45 Jan 19 32 Oct 5s Jan
16 Jan 8 20 4 Jan 19 13 Oct 244 Jan
8.065
14 Feb 24
83 4 Feb 5
'
1
1
'
BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Banks
Bid
NEW YORK
American .. 500
ASk
;
Auier Exch.
Astor
(Bowery* ...
.Butch'sifc l)r
"Century 1i.
Chase
Chatham
220
700
325
140
170
Banks
Bid
Ask
Coal & Iron. 1774
Colonial li ... 405
515
230
900
155
180
•iOO
320 340
4000 4100
Citizens' Ctrl
160
Discountl]... 155
East River.. 165
Federal 5....
.
165
166
270
Greenwich
\
Hamiltonll
..
Fifth
Fifth
First
Hanover
500
Imp & Trad. 550
217 4
Irving
day.
s
{
170
Banks
165
Liberty
Lincoln
Ask
147
530
1050
500
950
Maiden Lane 105
ManhattanV 310 330
Market <feFu 240 250
Mechanics'
1250
I
.
Mech
& Tra' U30
Mercantile
f230 t233
170
185
Metropnew 375 425
2224 MtMorris'i.. 215 222
520
570
certificates.
..
Hanks
Phenix
Nassau*!!
180
190
Plaza*,,
400 450
1500
190 210
280 290
150
North Amer. 200 205
Northern
115
Pacitic'l
ft
Ex
..
New Amster
New York Co
NY Nat Ex.
New York...
19 th WardV
223
260
229
Park (new).. t4624
270
People's*.,
rigbta, 1| state banks,
Assessment paid.
a
Ex
290
Bid
Banks
290
Oriental!!
*
Ask
270
Merchants'.. 175
1
Bid
Mutuallj...
MerchExch. 160
Less than 100 shares.
Trust Co.
Bid
Jefferson!!... 140
210
400
FidelitylT
A veil..
Ask
200
380
140
500
155
German Exit 375
Germanial) . 600
Fourth
Columbia "0 .. 350 400
Gallatin .....
Commerce. .0 12114 t213 GansevoortU
Consolidated 160
Garfield
165
C'rnExchgey 340 355
German Am*0
180 200
3600 4000
300
City ....
t264 4
530 600
• Bid and asked prices; no sales were made on this
1 Sale at Stock Exchange or at auction this week
Chemical
Bid
Banks
14thStreetU. 300
Prod
Seaboard
Second
Shoe&
.
165
..
250
175
280
(ioo
600
Leth. 130
800
34th Street.. 202
12th Ward",,. 120
23d Ward' .. 125
Union Exchi; 160
United
State*,,
dividend and rights,
Ask
110
Exch',1
Riverside!!
I
100
525
b
146
206"
New stock.
%
%
!
1
»
.
.
—Concluded— Page
Stock Record
STOCKS— HIGHEST AND LOWEST HALL PRICES
Monday
May 2
8aturd.au
April JO
May
May
4
STOCKS
5
76
47% 48
157 159 4
70
13% 134
34
33
47
47%
20% 21
83% 33%
92
92
•22 4 23
120 121%
.
•22
•1204 1214 •1204121 4 •120
•19
•194 19%
19
20
26 4 26%
26% 26% 264
38
39 4
38
38% 89%
•92% 04
93
93
93%
23
•22
23
84
92
84%
18
18
82% 84%
914 92%
92
17% 18
36% 37%
16 164
37% 38
*16
•43
•25
23
17
•43
45
27
45
25
26
17% 17s4
•17% 18
•384 404
39
4 39
4..
20
26
•6
7
•3%
44
7
27%
28
•8
25% 25%
38% 33%
38% 38%
94
934 •93
94
94
93
28
190
•88
•23
•180
7
•6
226
220
47%
174 174
47
69
71
30 4
>29
•88
92
93
28
190
7
•23
28
190
180
•6
7
47 4
17
71
•29
•88
•23
484
174
28
190
•6
•3%
44
•16 4
17 4
7
94
•8
9
40
Do
900 38
pref. vot. tr. ctfs.
Adams
:>Iiscell
8220 Feb
Express
•23
8
8
•8
9
89
28
190
American Dist.Telegraph
American Express
7
American Crass Twine ..
44 Amer Hide <8s Leather....
8
9
9
•3
4
19
•3
•3
4
-3
4
•3
4
*3
4
19
17% 17% •17
16% 16% •164 19
48% 48%
49% 49% 48% 49% •484 49
95% 96 4 94% 95% •944 95% 94% 95
•49% 494
98% 96%
4
19
49
•17
49
95
• 112
95%
-112 119
•112 120
•112 119
120
-112
120
119
•90
-90
90
90
96
95
90
•90
90
95
95
127
127
127
1274
128%
127
4127%
120%*
127
12641274
%
127%
4
*126 127
125 1264 •12541264 '125 4126 4 •12541264 12541264
126 126 •126 127 •126 1274 •125 127
127 127 14 '126 127
•10
11
10% •10
10% •10
10% 11
•10% 11
•10% 11
75
74
•734 75
74
•74
•74
76
8754 754 •71
76
•112
•90
•76
764
764 76 4 •76
76
219
76
219
78
76
219
76
219
219 219
217 222
2204
•5% 6% •5% 6% •5% 6% -5% 6% •5% 6 'e
484 50 •48 4 50
•48
50
•48% 50
•484 60
4
32
•31
324
31
830% 314 •30
31
831
32%
2193,
7<
64
•26
2-
'.,
•384 39
•75
•7
80
10
•424 42 4
•104% 106
164 164
90
135
84
26
97
26%
71
•18
73
19
73 4
6%
•6%
42% 45 3
:
•16%
;
1
16
4
77
77
*38 4 39
*83
84
"12
64
61
64
'
12% 12 %
209% 209%
110% 1104
•12% 13%
•704 714
821% 21%
159% 160
• 11% a '4
•66
66%
•88
•130
•82
26
97
•26
871
28
•10
13
•10
209
13
13
209 4 20842104
209%
1104110% 1104U04 •1094110%
•124 13%
13
13
$134 134
•704 72
70% 70 4 *704 72
•22
•22
•22
23
23
23
1574158
10741*74
156% 159
11% •11
11%
11
11% •11
67
•66
66% •66
66% *6ti
•26
•26
28
28%
284 •26
•38 4 39
•38% 39
•384 39
208
76
•7
10
42 4 42
H06 106% 106 106
•16
164 16
18
•88
90
•88
90
129 130
130 134
•81
84
84
84
26
26
•254 28
96% 97 '4 •96% 97
26
264 26 4 26
70
714 714 870
209 21
210 210
•174
I9 4
18
18
•72
•72
75
75
"76
•7
42 4
•6%
42
7
4 42 4
15% 15%
76% 76 34
•38 4 39 4
•83
76
80
10
42 >4
84
*% 1
%
%
«36% 36% 35 4 35 4
-27
284 •25
28 4
•10
167
210
210
•17% J9
•157
157
11%
•II
*tm
•26
160
1,800
3,161
American Sugar Refining
12,830
Do
pref
American Suuti
Do
Do
160
pref
pref
Amer. Teleph. & Teleg.
American Woolen
Do
125
375
110
900
800
pref
1,330
•76
•7
78
10
Distillers Securit's Corp.
78
Do pref
International Power
Internat'l Steam Pump..
Do pref
in
Manhattan Beach
27
27
97 4
27
97%
27
8694 694
70
•2094 212
70
211
211
Pacific Mail
eop. Gas-L.<fc O. (Chic.)
Pressed Steel Car
Do
pref
817% 17% tRailway steel Spring.
*72
•72
•72
75
75
76
tDo pref
»% *6% 7
6% 6% •64 7 Republic Iron <& Steel
4 24 42
42 4
414
41
41% 42
Do pref
•15% 164 •154 164 •15% 164 Rubber Goods Mfg
1 64
16
"764 784 8784 78
77
7
•764 784
Do pref
•37 4 39
38
38
•37
39-2 SlossShelHeld St.<fe Iron
•37% 39
•83
•83
84
•83
»83
84
84
84
Do pref
«3<
"%
*% 1
•% 1 Standard R«pe Twine..
% 1
36
35
35% 35 4 35% 35 4 35% 35% Teun. Coal, Iron & RR...
•26
27
•25
28
284 •25
28 Texas PaciHo Land Trust
Union Bag Paper
51
63
Do pref
•6%
42%
.
110
<fc
6%
6%
80
80
•64
6%
67
17
58*4
17
66%
104
66%
28%
67
101
•18
10%
56 4
29
101%
22
42 4 42 4
•103 110 •103
6%
7
67% 68%
17
177,
664 67
10 4 10%
'„
102
•18
102
22
6%
108
0% 6%
79% 79%
102
101
101
101
Foun.
D. S. Cast 1. Pipe
Do pref
United States Express...
United States Leather
Do pref
74 U S Realty ^Construction
,
594 60 4
<
104
66%
27% 28%
101
103
79% 79% •794 80
6% 7%
77
7
58% 60
60 3
60
18
184
16% 17%
67
68
66% 67
9% 10% 10
104
64% 65% 55% 55%
274 274 27 4 28 4
10
65
554 66
274 284
103 110
6%
6% 6%
110
103
6% 7
794 794
6% 6%
68
534
17% 18
67 4
67
6% 7
4 794
79
&
43
43
110
Do
pref
•17
66
17% United States Rubber
66%
Do pref
10% 104 U nited Stat es Steel
55 4 55 4
Do prsf
274 27% Virginia-Carolina Chem..
101%
101
•18
22
18
101
22
21
•88% 89
155
•178
155
•203
88% 88% 889
153
153 155
•175 200 •176
205
210
210
89
153
200
•203
210
•205
210
205
210
884 8*% $884 884
153%
160
•175
200
165
175
15.)
200
•155
•176
153
Do pref
Wells, Fargo
<fc
Co...
Union Tele'gph
West'gh'seEl<&Mfgassen
est'n
Do
200
Mar21
Jan 14
514 Jan 28
95% Apr 29
Feb 29
9>1
Jan 13
1*1% Jan 25
126% Jan 30
130 Jan 25
12 4 Jan 11
75 4 Apr 1
65
30 4 Apr 12 58
223 Apr 29 170
120
Oct 80 Jan
Oct 125 4 Feb
Sep 225 Jan
15 4 Jan
5 Oct
Aug
40
55 Jan
24 Nov 82 4 Jan
65 Dec 122 Jan
9 4 Nov 22 % Feb
164 Aug 222 Jan
5% Mar 1 7 Jan 26
47% Feb 19 49% Mar 7
25%Marl2 344 Jan 27
Apr 5 65 Jan 27
11% Feb 27 16% Jan 26
9,210 185 Feb S 2104 Apr 20
660 101 4 Jan 4 111 Apr 6 94% Aug 119 Jan
260 124 Mario 22% Jan 25 15>- 2 Nov 35 Mar
260 65 Mar 9 744 Jan 23 60 Nov 85% Jan
100 20 4 Apr 20 264 Jan 21 20 J'ly 34% Jan
2,100 1564Feb24 179% Jan 23 136 Sep 204 Feb
9 J'ly 19% Jan
1.410 10% Jan 6 14% Jan 25
64% Feb 9 67% Apr 5 57 4 Nov 744 Feb
26 Mar
28 Mar 12 23 Nov 73 Jan
31 Jan 2 40 Apr 7 28 Dec 46% May
Apr 7 70 Oct 89 4 Jan
714Feb
9
78
100
64Mar21 8 Apr 19
64 Sep 13 May
2,910 36 Jan 4 45 Mar23 32 Oct 47% Feb
882 1004 Jan 16 106% May 5 94 Oct 106% May
3,000 14 4 Feb 25 19% Apr 14 10* t Nov 29 4 Feb
200 80 4 Jan 26 91 Apr 14 75 Oct 95 Feb
776 120 Feb 25 139% Jan 22 105 Oct 177 Jan
400 80 Mar 12 90 Jan 26 68 Sep 124 4 Jan
33% Jan 18 17 Aug 42% Jan
1.100 24 Feb2
2,275 92% Marl2 102% Jan 23 87% Sep 108% Feb
24
33 Jan 28 22 4 Nov 65% Jan
21
Apr
,630
4
1
470 69 Jan 2 724 Jan 28 62 4 Nov 95 Feb
350 209 Marli 2194 Jan 22 196 J'i.y 235% Jan
no 18 May 2 244 Mar 2 16 Sep 37 Feb
300 71% Marl6 73 Jan 4 67 Nov 90 Feb
64 Jan 6 8% Jan 25
7o()
5% Nov 22% Feb
2,210 40% Jan 4 49% Jan 23 36% Nov 80% Feb
300 14% Apr 15 22 4 Jan 27] 12 J'ly 30 Feb
520 74% Jan 15 79% Apr 4 60 J'ly 844 Feb
100 31 4 Jan 7 41% Apr 12 22% Oct 72 Feb
77 Jan 6 84 Apr 6 67 Nov 97 4 Feb
6 4 Feb
100
% Mar 4 1% Feb 24
% Sep
3,340 34%Feb24 41% Apr 7 257 jNov 68% Mar
100 27 Feb 9 29 Jan 22 22 Aug 40% Jan
4 Mar22
4 4 J'ly 15 Jan
54 Jan 20
200 46 Feb 24 584 Jan 4 57% Dec 79% Jan
6 Sep 15 Feb
6% Apr 8 84 Jan 21
"300 40 Mar24 46 Jaii 22 33 Nov 55 Feb
100 Feb 24 110 Jan 25 95 Aug 1504 Feb
6% Feb 2 3 8% Jan 25
6 Sep 15 '4 Feb
3,660
1,387 75% Jan 4 80% Apr 18^ 71 4 Oct 96% May
21
4 Dec 28 4 Jan
5% Jan 15 9% Jan
10,550
23,058 40 Jan 14 60% May 5 30% Nov 73 Jan
7 J'ly 19 4 Feb
11,235 104 Feb 6 18% May 4
3.630 41 Jan 4 68% Apr 29 304 J'ly 58 Feb
Jan 2 10 Nov 39% Feb
9% Jan 6
41,810
136,719 54% Feb 1 62 4 Apr 7 49» Nov 89% Jan
66% Feb
1,990 23 4 Apr 16 344 Jan 25
I7*i Sep
1,000 97%AprlG 106% Jan 26 80 Aug 1284 Feb
20 Apr 20 20 Apr 20 17 Sep 39% Feb
54 Dec 33% Jan
70 Sep 81 Jan
8204 Apr 15 8212 Jan 6 $191 J'iy 249 4 Feb
4,306 86 Jan 6 89% May 6 80% Sep 93 Jan
800 153 May 2 173% Jan 21 130 Oot 2211 Jan
8180 April 194 Jan 19 160 Sep 22 4 Jan
j
pref
Virginia Iron Coal <fc Coke
884 &>h
Nov 414 Jan
Aug 235 Feb
6 J'iy 29% Jan
2% Oct ll%Jan
10 Oct 37% Jan
4 Oct 11% Jan
16% Oct 42% Jan
5 J'ly 19% Jan
234 Nov 48 4 Jan
104 Oct 31% Feb
674 Oct 95% Feb
24 Mar 5 4 Feb
144 Sep 244 Jan
36% Oct 52% Feb
804 Oct 994 Feb
90 Aug 126 Mar
80 Sep 98% Jan
107% Oct 134%Jau
116 Aug 123 Deo
1174 Oct 169 Feb
74 Oct 14% Feb
H
Do
Vulcan Detinning
•205
Jan
464 Feb
98 Feb
J
<fc
•103
22
Feb25
88% Jan 6
110 Jan 21
85 Jan 6
122% Mar 7
123 Jan 4
121 Feb 16
10 Jan 4
69 Jan 2
61 Feb20
185 Marl6
93
171
23% Feb 16
84 May 6
4% Jan 22
46
J'ly
Feb
75% Mar
41% Jan
]
Pullman Company
•17% 18%
82
24
63
43% 44% 444 45 National Biscuit
106 4106% 1064 106%
Do pref.
16% 174 17% 13% National Lead
•88
90
9o
90
Do pref
130 132
132 4 132 4 New York Air Brake
84 North American Co., new
84 4 844
84
274
27
97
974
827% 827%
33% Oct
174 Nov
604 Nov
254 Aug
200
General Electric
67
*6ti
28 4
284 •26
•38% 39
•384 39
•7
Reiln'g.
114 11% International Paper
67
76
'.
&
76 4 764 Anaconda Copper
•216 221
Brooklyn Union Gas.,
*5% 6%
runsw. Dock&C.Irup't
•48 4 50 Buttenck Co
30 4 32% (lolorado Fuel <fe Iron...
64
J Do pref
•11
13
CoL, & Hock. Coal & Iron
208 208% Consolidated Gas (N. Y.).
}110% 110% Continental Tobacco, pref
•12 4 134 Corn Products
•70 4 714
Do pref
208% 2094
•1094110%
12% 12%
70% 70%
522% 22% 822% 22%
•76
78
•7
10
42 4 43
106 4106%
•164 18
•88
90
128 132
*81
844
26 4 26%
96% 97
264 27
S604 69 4
64
13
*
pref
Amer. Smelt' g
Jan 19 30
16%Jan
75 4 Jan
3 Jan
200 16% May
J'ly
Jan 6 8204 Jan 235
43% Feb
16% May
2,545
1,708
American Malting
Do
12
404 Nov 62 May
20 Sep 384 Feb
14%Oct 29% Feb
33 Nov 55 4 Feb
:
American Linseed
32% Feb
554 Feb
274 Feb
16% Oct
274 Sep
6 4 Jan 19
84 Feb 15
2% Jan 5 54 Jan 27
114Jan
18% Apr 8
6%Mar24 94 Jan 2
1,160
1,510 24%Mar24 36% Jan 4
8 May
12 Jan 22
220
31
•17
225
J'ly
834Aug 95% Feb
9 Dec 22% Jan
35 J'ly 64 4 Jan
12
02% Apr 8
21% Jan 27
67 Jan
74% Apr 7
275 28 4 Jan
32% Jan 25
89 Jan 22 90 Feb 9
23 Mar21 25 Jan 15
10 5135 Mar 7 8197 Jan 27
63,880
1,955
413
malgainated Copjier...
174 17% American Car & Foundry
73
Do pref
830% 30% American Cotton Oil
89 93
Do pref
130
•6
90 4 Feb
Jan 28
Aug 88 Feb
494 Jan 23 39 Deo 78 Feb
167 Jan 23 148 4 Sep 170 J'ly
164 Jan 22 12 Aug 30 Jan
36% Jan 23 24 Aug 66 Jan
624 Jan 27 38% Sep 68% Mar
23 4 Jan 27 164 Oct 36% Jan
86% Jan 22 69 4 Oct 96 Feb
92 Jan 26 85 J'ne 964 Mar
27% Jan 23 20% Aug 43% Feb
1244 Jan 13 100 Oct 128% Jan
22 Jan 21 17% Oct 37% Jan
29 4 Jan 23 15 Sep 31% Jan
39% Apr 2 5 24 Sep 48 Jan
96% .I.iu21 79 Oct 122% Jan
155 J'ne 8159% Deo
90 Apr 4 65% Aug 104% Jan
370
Jan 15
47% Jan 22
21% Jan 27
41 Jan 25
19 4 Jan 22
52% Jan 22
29% Jan 27
21% Jan 20
Jan 4 47% Jan 27
Industrial He
Highest
Lowest
944 Apr 6
•28
•28
•28
•28
31
31
31
31
•274 31
Do pref
184 19% American Locomotive..
8184 184
•18% 184 18
184 184 184 •184 19
82
824 84
81% 81% •82
Do pref
81
81
814 814 814 82
•28
1
pref
•70
71
31
93
•180
Mar
158,335 71 Marl 4
84% Union Pacific
1,009 z864 Feb 25
Do pref
600
104 UnitRysInv'tof San Fran
9 Feb 17
46
1,860 424 Apr 19
Do pref
184 Wabash
1,150 17 Feb 24
37%
7,770 32% Feb24
Do pref
100 144 Feb 23
16% Wheeling & Lake Erie...
43
200 42 Feb 2 4
Do lstpref
25
511
22 Feb 2 4
Do 2d pref
18 Wisconsin Cent. v. tr. cfs.
1,200 164 Jan 4
226
47% 48
Year (1903)
56
68
92
*220
226
861
47% 48
2400 39% Jan 6
1594 C.<fcE.I.comstock trctfs
150 Jan 9
•13% 14 St. Louis Southwestern
460 12% Mar 9
32 4 32%
1,900 294 Feb 24
Do pref
66,920 414 Marl4
474 47 4 Southern Pacific Co
21
21
4,860 184 Feb 24
Southernv.tr. cfs. stmped
83
2,056 774 Jan 6
834
Do pref.
4
do
lOo 90 Feb 25
M. <fc O. stooktr. ctfs ...
200 214 Feb 23
22% 22-s 'Texas & Pacifio
•120 1214 L hird Avenue (N. Y.)...
115 Marl 4
•19
23'. Toledo Railways <fe Light
"Too 19 Apr 22
770 22 Feb 20
824 4 24 4 ToL St. L. <fc W. v. tr. ctfs
38 4 38 4
Do pref. vot. tr. ctfs. 2,120 32 Feb 24
1,400 874 Feb 23
944 94% Twin City Rapid Transit.
Do
Uattge tor Previous
Highest
Lowest
157
84% 854 84% 854 84%
83 4 84%
•91
924 •91
892% 92 4 891
93
10
9
104
•84 9
9
10
44
46
464
•42 4 44
46
44%
•17%
18
18
17%
18
817%
18
36% 37% 374 37% 37% 37% •37%
•154 16
•15%
154 154 •154 16
•45
•45
'45
48
48
44% 45
•24
•24%
25
254
24 4 254 8244
174 174
17% 17% •17%
17% 17%
•38 4 40 4
40
39%
38
39
$38
•220
Shares
LASFrJPM&CoctXB
Do lat pref
Do 2d pref
71
Kange lor Year 11*04
On basis o/100-share lots
Week
•3% 44
•3% 44 •3%
*3% 44
•164 17 % •154 174 •154 17 4 •154 174
De pref
6% 6% •6% 6%
6% 6% American Ice
6% 6 34
6% 6%
•27% 28
28
Do pref
274 27% 27% 27% 27% 27% 28
4 17%
•6%
20
20
38%
18% 17 4 »17% 17%
70
69% 70
30
29 4 880
17% 17%
•69 4 71
69 4
•29 4 30 4
29%
•88
•88
92
•23
•23
28
'180
1189 189
•6
23
121
•194 20
•25
264
'.|
•220 226
•220 226
'220 226
47% 48 4 46% 47 4
48 14 48%
• 15
•22
120
22%
1214
•60
•60
•60
•62
•60
75
75
75
•46
46
464 47
47%
46% 464 46
•167
1594 •157 169% •157 1594 •157 159 4
•13
•13
134
•134 14
134
13 4 134
33 4 33 '4 32 4 34 4
•334 34%
33 \
S3
47^ 47% 46% 47% 46% 47 4 47 4 47%
20% 20% 20% 20 4 20% 204 20% 20%
84
8
84%
85
83% 83%
84
84
•60
the
EXCHANGE
St.
[Vol. Lxxyni.
2
Sales oi
NEW YORK STOCK
Friday
May 6
Wednesday Thursday
Tuesday
May 3
1
.
lstpref
-i
BANKS AND TRUST JOMPANIES— BROKERS' QUOTATIONS
Bid
200
WestSldel].. 500
Yorkviileli .. 375
ItntilcM
Broad wayv.
Brooklj
!'
Cou'yl&BBl
First
•
1
Bid
liKOOKLYN
Manufaotrs'. 325
Mechanics^! 220
Merchants'.. 116
360
Nassau
n.u cuy
BOB
North .sidoll. 230
I'eople'sll
215
17tli WardH. 150
150
300
130
140
21
S)ii:igiie
suiyv'lHt«1 ISO
niouli
160
\\ allabotitll
150
I
H9U
.
Ask
Trust Cos.
Bid
fl. Y. CITY
Bankers* Tr. 2S0
Bowl'gGreen 198
BroadwayTr. 140
Ask
Trust Co's
Exchange Tr
Farm Lo & Tr
Fifth Ave Tr
150
Guaranty Tr
C'lR'tyB&Tr 500 525
Guardian Tr
Central Tr'st 1910 1960 Kuick 'rb'k'r
.
BROOKLYN
Borough*]]
Uonks
Ask
Wasli.irht.Hli
City Trust... 260
4
olomal
300
Cnnmionw'th 75
Eastoru Tr.. 155
300
KqiutableTr 650
<
Bid and asked prices Tio.aaiesontuisday. $ Ijoss
Salo at Stock LxohiiuKo or ai auouon this week.
276
320
165
700
LOU shares, t
stock dividend.
in.iu
Ex
202
..
Manhattan
..
Trust Co.
Ask
1376 1425
630 560
630
175
890
325
476
Mercantile .. 1000
Merchants'.. 200
Metropolitan 600
MortonTrust 880
Linooln Tr.
185
340
500
1025
220
615
895
P. Morgan
oertlttoatos. ^
Ex nguts. dJ.
*
Bid
&
Trust Co's Hid ASK Trust Co's
Mut. Alliance 200 225
N Y Lit eATr 1000 1050 BSOOKLYN
N YSeo&Tr 610
Brook'yn Tr
North Amer. 245 255
Flat bush
Real Est Trt 325
Franklin
standardTr't 325
Hamilton
Tr Co of Am. 220 226
Union Trust 1300 1375 Kings Co
USMtgcSsTr 390 410
L Isl L&Tr.
Una States 1470 1480 Nassau
Van N'denTr 195 205
People's
Washington. 390
Williamsb'g.
Windsor
170
180
Bid
390
190
320
290
400
Ask
200
340
300
290
260
325
235
350
245
Co. c.sriitlcates.
Banks marked with a paragraph
(H)
are State
banks
3
New York
Exchange— Bond
Stock
Record, Friday,
Weekly and Yearly
OCCUPYING FOUR PAGES
BONDS
May
U
V
Q-J
Q-J
Q-J
Q-J
105
105
Q-F
Q-F
Q-F
106
106
105
107
107
Q-J
Q-J
Q-F
1925 Q-F
U 84sooupon
Last
6
Ask Low
Bid
U. S. Government
U S 2s consul registered. dl930
U S 2s oonsol coupon dl930
U S 2s consol reg small. .c£1930
S 2s consol coupsinall-{il930
kl918
US3a registered
A:1918
U S 3s coupon
U S 3s reg small bonds. .fcl918
S 3s cou small bonds. .&1918
ftl907
U S 4s registered
A1907
U S 4s coupon
192f>
U S 4s registered
STOCK EXCHANGE
Sale
January 1
Week Ending Mat 6
High So Low High Central of Ga—{Continued)
Range
Friday
or
o ©
Since
106 34 Mar' 04
107 % Apr '04
107 J'ne'02
lOti
....
107% 107
% Mar'04
107 »s 107
132% 133%
13'.
106*4
106 3
108
100% 107%
106*4 108%
107
107
107
% Apr '04
132 DISS'S 133
MobUe Div
106%
4
108
132% 132',,
13234 134
Mar'04
pur-
Philippine Islands land
1914-34 Q-F
chase 4s
111% Mar'04
110
1113*11134
Foreign Government
,
.
95% Feb '02
four marks
to o
98% Apr'04
ices on the b
ne do
983a
0/ $5
Liar.
98 H.
to
£.
1043s Sep *02
109% Oct '00
102% Mar^
111
121
106
Mar'02
Mar'03
Apr'03
109%Feb'99
102 Feb'04
136%J'ly'01
120 Mar'OC
.102
96% Apr '04
102%
95% 96%
93%Nov'03
92 % Mar'04
91% 92%
7%Apr'04
7
8
Railroad
Alabama Cent see So Ry
laba M nil See At Coast Line
Albany & Susq see Bel <fc Bud
Allegheny Valley See Perm KK
See Bull K &> P
A'seCentof
J
West
<fc
Am bock it
1
N
in
93 Sale
92
93
A1995 Q-J
Ann Arbor 1st g 4s
Atch T & S Fe gen g 4s... 1995 A-O 100% Sale 100% 101%
1995 A-O
A1995 Nov
Registered
Adjustments 4s
26
510
91% 93%
98% 101%
99% Apr'04
99 101%
91%
«7% 92
915s
82% Jan '04
82% 82%
89%
91% 4s 87% 92
1
92%
92%
92% 92%
100
91% 92
Nov
90 Sale
/tl995 M-N
Stamped
East Okla Div 1st g 4s. .1928 M-S •92
Clue & St Bouis 1st 0s.. 1915 M-S
114% Oct '02
Atl Knox<& Nor 1st g 5s.. 1946 J-D 109%
L66 91
95
94% Sale 9434
95
Atlantic Coast 1st g 4s./il952 M-S
Charles & Sav 1st g 7s. 1936 J-J 135
125%Nov'03
1st gold 0s.. 1934 A-O 124
Sav F&
112% Jan '04
1934 A-O 1123a
U2%112%
1st gold 5s
112 Apr '04
109 112
Ala Mid 1st gu gold 5s 1928 M-N 110
J-J
Aug'01
87
92%
Bruns &
1st gu g 4s 1938
96
91% Oct '03
Sil Sp Oca & G gu g 4s 1918 J-J
Registered
/(.1995
W
.
W
,
& Danv see South Ry
& Yadk See South Ry
Austin & N W see Sou Pacific
Bat Creek & S <S«e Mich Cent
Atlantic
Atlantic
alt& Ohio prior lg3%s. 1925
Registered
A1925
Gold 4s
A1948
Registered
A1948
1911
Cony deb 4s
Jun
&
M
Div
%sl925
1st g 3
P
Registered
#1925
P L E & Va Sys ref 4sl941
Southw Div 1st g3%s... 1925
Registered
A-O 101
M-N
J-J
/il925
&
MS
Pitts Clev
Tol 1st g 6s 1922 A-O
Pitts <fe West 1st g 4s.. .1917 J-J
<fc Co certfs
JP
M
Beech Creek See N Y C & H
Belie v & Car See Illinois Cent
Bklyn
Brims
ite
<&
Buffalo
Buffalo
Sale
94%
94%
93% Apr '04
100% 101
....
101
97
Q-J
M-S
M-N
Monon Riv 1st gu g 5s. .1919
Cen Ohio R 1st og4%s.. 1930
-
94 % Sale
J-J
Q-J
W
'96
87% 88% 88%
'
101
98
92% 95%
92% 93%
154 100% 102%
5 100% 10138
69
2
88%
98
87%
89 34
92% 97
96% 96% Apr '04
90% 50 87% 90%
90% 90% 90
90% J'ly'02
i*07% L~I* 105% Mar'04
105% 105%
108
110
10934 Oct '03
119
95
119% Mar'04
96
100% Feb '03
98
119%122
Ang'03
See Erie
5s... 1937 M-S 115
Sale
1st g 4s gu.. 1998 A-O
1st gugSs... .1943 J-J 112%
Roch Pitts 1st g 6s.. .1921 F-A 120
Consol 1st g 6s
1922 J-D 124 Sale
Buffalo <fe Southwest See Erie
Butt <fc Susq 1st ref g 4s.dl951 j-jI
115
113% 117
116
A11& West
C1& Mah
&
dl951 J-J
Registered
Bur Cedar R & No 1st 5s. 1906 J-D 103%
Con 1st & col trustg5s.. 1934 A-O 116
Registered
1934 A-O
CRIF&N Wlstgu5s.l921 A-O 109%.
M«fc StLlstgug7s....l927 J-D
1908 J-J 104% Sale
CCanada South 1st 5s
1913|M-Sj 105=al07
1913 M-S
Carb <fe Shawn See 111 Cent
Carolina Cent see Seab Air L
'2d 5s
Registered
Carthage* Ad
CedRIaF&N
Central Ohio
Apr'97
121% Mar'04
124
124
103
97%
97%
1033s
10334
121% 121%
121% 124
97% 99
115% H50g
12O%Mar'0S
118
Jan '02
104% 104%
105% Apr '04
107
102% 104%
104% 107%
Aug'03
<fc
92
94
1st pref income
2d pret income
91% Mar'04
90
92%
Ohio
RR & B of Ga col g 5s 1937 M-N 107%
of Ga RR 1st g 6s..pl945 F-A 116
118
Cent
Consol gold 5s
Registered
1945 M-N
1945 M-N
g 5s....;
-pl945rOct
g 5s
pl945 Oct
107
Sale
71»4 Sale
32 % Sale
A-O 101
J-J
J-J
M-N
F-A
F-A
J-J
J-D
ConnRy feLlst&refg4%s 51 J-J
Den Con Tr Co 1st g 5s. ..1933 A-O
Den Tram Co con g 6s. .1910 J-J
Met Ry Co 1st gug6s..l911
<
,
Det Cit StRylstcongos.1905
Gr Rapids Ry 1st g5s...al916
Louis Ry Co 1st con g 5s.. 1930
Market St CRy 1st g 6s. .1913
Met St Ry gen col tr g 5s. 1997
Bway& 7th Av 1st eg 5s 1943
•No prloe Friday; latest price
77
Sale
108%
•97
103
86
80%
90
113%
115
this
g 5s
Am
J-J
Q-J
J-J
J-J
M-N
Q-JI
M-S
R&
M
Milw& Madison 1st 6s. .1905 M-S
North Illinois 1st 5s.. ..1910 M-S
Ott C F & St Paul 1st 5s 1909 M-S
Winona & St Pet 2d 7s. .1907 M-N
Mil L S & West 1st g 6s 1921 M-N
Ext* Impsfundg5sl929 F-A
wees,
Rale
Sale
Sale
92
Sale
6s. .1925
87
103%
102%
109
M-S
Apr* 04
106% 108
116% Mar'04
116% 118
45 10334 109%
106% 107
105% Sep '01
71 »4 67 65% 71%
70%
108
31
3234
54
28
3234
Not'01
109
Mar'98
112%
115
a Due Jan
113%
Apr'04
d Due
J'ne'99
J'ly'03
lll a4
113
129»4
104
108
109 34 Sale
115%:Sale
109%
:
131%
127% 130%
111% 113
113
115
09 34
118
100
102
102
108
109 34
102
Apr'04
1
104
16 128
100%
100% 102% 102 Apr '04
101%
101% Apr '04
101%
2
109% 111
S3 114 34 118
115% Apr'04
113 115%
102% Sale 102% 102% 99 100% 104
114
106
101
94
104
86
Apr'01
May'03
101% Apr'04
"96% 94% Apr'04
106% Oct '02
103
112
110
99% 101%
94% 94%
90% Dec 'Ob
83%
83% 83
"77% Sale 77%
77%
83 34 Apr '02
104 34 Apr '00
100% 101 100% 100 34
93
93
93%
90% Apr '04
91%
108%
109 3< Apr'04
101
101% 101%
104%
104% 10c
81% 84%
74% 7'i%
%
93%
90% 90%
99
101
91
i09 34 io: |34
100% 102%
104% 106%
96
105 Dec'03
100 34 Feb'04
100
10334
106%Apr'04
IO534 107
112%114
108%
129%
115
108
129
11434 116
Feb'04
Apr'04
Apr'04
114% 114%
114%
120
113
Dec '02
Jan '04
129
108
108
175
Apr'04
128
,
110%.
110%,
114%11">
106% 108%
129
112% 11*
126% 129
108
169
109
Apr'04
109
109
111
,
109
Dec '02
,
115% Sale
111%
128%
117%
106%
Apr'04
110% Feb'04
115% 119
109% 111
115%
111%
II434 116
115%
111%
109 34
137%J'ly'90
118 Feb'04
106 Mar'04
169 Mar'04
3
112 4 ....
113% Oct 'Ob
106 34 ... 107
107
111% 112% 111% Apr'04
111 ....
109% Feb'04
106
169
106
169
io6 34 i.07"
110% 112
109 34 109%
114% Apr '04
113
H1%
116%118%
.
114%....
112%....
117%....
127%....
102%....
*103 ....
96%....
-
97% 98%
116%Apr'03
116
111 34
108
175
110%
107% 109%
97% Mar'04
116%
129
114% 118
Jan '04
110%Apr'04
98
114
100%
J'iy'03
110%
114
114 34
Oct '03
117%Apr'04
129 34 Apr '04
102% Apr'04
106% Oct '02
114% 117%!
1293 8 12934J
10234 105
Apr'04
Nov'98
112%
111% Apr'04
Ill
111% Dec'03
110 Salt 109 34 110
106
107 Mar'04
103
105 Mar'04
102
104 Mar'04
108
10834 Mar'04
106
108% Jan *04
116
118 Apr'04
113%
116 Apr'04
97% 99%:
99
103
111% 111%
108% 110%
106
107
104% 106
104 104%
108% 108%
108%10834
115% 118
116 116
I
\
108
101%
104%
104%
109%
126% 127
118%
129^4
1924 J-J 129%
Convertible deb 5s
1907 F-A 103%
Incomes
1911 M-N
Chic Rock Isl & Pac 6s.. .1917 J-J 123
Registered
1917 J-J 122%
General gold 4s
1988 J-J 104 Sale
Registered
1988 J-J
Coll trust Series B 4s.. .1904 M-N
H4s
1910 M-N
4s
1915 M-N
N 4s
1916 M-N
P4s
1918 M-N
Chic R I & l»ac RR 4s. .2002 M-N
71% Sale
Registered
2002 M N
Coll trust gold 5s
1913 M-S
80% Sale
Choc Ok & G gen g ae .01919 J-J 105
M-N
Consol gold 5s
1952
DesM<fe FtD 1st 4s
1905 j-J
96%.
lst2%s
1905 J-J
93
Extension 4s
1905 J-J
96%.
Keok & Des Mist 5s
1923 A-O IO334
.
.
106
108
Nov'02
Oct '02
105%Nov'03
112%Apr'04
112% 112%
128% 129
117% 118%
129 Apr'04
117 34 Mar'04
142% Feb '02
1 31 4
Dec'03
Apr'04
103 103
Sep '03
123
123
121% 123
120 Feb'04
120 120
3o 101 104
103% 104
107 Jan '03
98 Aug'03
99%J'ne'02
99%J'ly'02
99%J'ne*02
87 Aug'03
70
73 G64 66% 74%
88% Jan '03
85
80
82 187 73
104% Jan '04
104% 104%
103
109
103% 103%
103% Jan '04
95% Oct
90
98
104%
'03
'03
Jan '04
Apr '04
Oct
93 34
98
104% 106
l'a«re.
Street Railway
102% 102% 5 99% 102% Met St Ry—(Con)Ret g 4s2002
Col & 9th Av 1st gu g 58.1993
77% 64 72% 77%
76%
Lex Av & P F 1st gu g 58 1993
107% 108%
108% Apr'04
Third
Ave RR con gu 4s 2000
100 Mar'04
100 100
Third Ave Ry 1st g 5s. .1937
27 100 103%
102% 103
5
87% Met WS El (Chic) Istg4s.l938
86
S2
86%
80%
80% 4 79% 80% Mil El Ry & L 30-yr g 53.1926
Minn St Ry 1st con g 5s. .1919
92% St Jo Ry Lt H&P 1st g 58.1937
91 Apr'04
90
St Paul City Cab con g 5s. 1937
96 J'ne'00
103
Feb'04
102
103
130%
128% Apr '04
131
MichDivlstg6s
on Next
104
128%
130
Since
^ -c January 1
J-ligh No Low High
21% 37 18
21%
A-O 108
al911 A-O
1939 M-N
1st consol g 5s
1939 M-N
Registered
1992 M-S
gold
%s
4
General
1992 M-S
Registered
Craig Valley 1st g 5s.... 1940 J-J
A Div 1st con g 4s. .1989
1989
2d consol g4s
Warm Spr Val 1st g 5s.. 1941
Greenbrier Ry lstgug4s '40
Chic & Alt RR ref g 3s. ..1949
Railway 1st lien 3%s... 1950
1950 J-J
Registered
Chic B & Q— Ch <fc IaD 5s 1905 F-A
1922 F-A
Denver Div 4s
1949 J-J
Illinois Div3%s
1949 J-J
Registered
Iowa Div sink fund 5s. .1919 A-O
1919 A-O
Sinkingfund4s
Nebraska Extension 48.1927 M-N
1927 M-N
Registered
1921 M-S
Southwestern Div 4s
Joint bonds See Great North
1913 M-N
Debenture 5s
Han<& St Jos consol 6s. .1911 M-S
Chic& E 111 1st s f cur 6s. 1907 J-D
1934 A-O
1st consol g 6s
1937 M-N
General consol 1st 5s
B937 M-N
Registered
Chic & Ind C Ry 1st 5s. 1936 J-J
Chicago & Erie See Erie
Chic In & Louisv ref 6s... 1947 J-J
1947 J-J
Refunding gold 5s
Louisv N A & Ch 1st 68.1910 J-J
1905 J-J
con
Mil
St
Paul
7s
&
Chic
1914 J-J
Terminal gold 5s
General g 4s series A.. #1989 J-J
el989 Q-J
Registered
General g 3 %s series B.el989
Chic <fc LSuDivg5s... .1921
Chic & MoRiv Div 5s. ..1926
1910
Chic& Pac Div 6s
1921
Chic<& P Wlstg5s
1916
Dak & Gt So g 5s
1924
Far & Sou assu g 6s
1910
Hast& D Div 1st 7s
1910
1st 5s
1908 J-J
I & D Exten lst7s
1919 J-J
LaCrosse&D 1st 5s
1910 J-J
Mineral PointDiv 5s
1910 J-J
So Minn Div 1st 6s
1909 J-J
Southwest Div 1st 6s
1921 J-J
Wis & Minn Div g 5s
Mil & No 1st
L 6s.. ..1910 J-D
1913 J-D
lstcon8ol 6s
1915 Q-F
Chic *Northw cons 7s
Extension 4s
1886-1926 F-A
1886-1926 F-A
Registered
1987 M-N
General gold 3 %s
Registered
._»1987 Q-F
Sinking fund 6s.. .1879-1929 A-O
1879-1929 A-O
Registered
Sinking fund 5s. -.1879-1929 A-O
1879-1929 A-O
Registered
Debenture 5s
1909 M-N
1909 M-N
Registered
1921 A-O
Debenture 5s
Registered
1921 A-O
1933 M-N
Sinking fund deb 5s
1933 M-N
Registered
Des Mo & Minn 1st 7s.. 1907 F-A
MISCELLANEOUS BONDS—Continued
Street Railway
Brooklyn Rap Tr g 5s
1945
1st refund conv g 4s
2002
Bk City 1st con 5s. 1916, 1941
Bk Q Co <S> S con gu g 5s. 1941
Bklyn Un El 1st g 4-58.1950
Kings Co El 1st g 4s
1949
Nassau Elec gu g 4s
1951
City & S Ry Bait 1st g 5s. 1922
1st
J-D
Range
or
Ask Low
21% 21
92% 92 Aug'02
Bid
M
S««BCR<feN
See Balti
NJ
Ashland Div 1st g
101% 10334
115% 117
SeoNYC&H
Cen Branch UPlstg4«... 1948 J-D
Cen Branch Ry See Mo Pac
Cen
97
Montauk See Bong 1
West See Atl Coast L
N Y & Erie
R & P gen g
of
Range
Last sale
(i
Oct
J-J
J-J
1946 J-J
gen'lgold 5s. 1987
A1987
Registered
Dock<& Imp gu 5s. .1921
1920
5s
gu
gen
R
&
Hurt
g
Le
Leh & Wilks B Coal 5s. .1912
01910
Con ext guar 4%s
g 4s 1941
N Y <fc Long Br genPacific
Co
Cent Pacific See So
Chas & Sav See Atl Coast Line
Ches & Ohio g 6s ser A..M908
Cent
May
GoldGs
95
Frankiort-on-Main 3%s ser 1 M-S
These are price * on the 0* sis ol
Q-J
100
1899
of
5s
U S of Mexico s f g
2 luse are pr
State Securities
102 %....
1906
Alabama class A 4 to 5
1900
Class B 5s
1906
Class C 4s
1920
Currency funding 4s
119
1924
Dist of Columbia 3-65s
104%.
Louisiana new consol 4s.. 1914
Small
1894-1995
Missouri ruuding
103 ..
North Carolina consol 48.1910
1919
6s
1933
So Carolina 4%s 20-40
95%....
Tenn new settlement 3s.. 1913
Small
Virginia fund debt 2-3s...l991
'"o%""7%
6s deferred Brown Bros ctfs.
Alleg
j>1945
3d pref income g 5s
Chatt Div pur mou g 4s. 1951
Mac <fe Nor Div 1st g Cs.1946
1947
Mid Ga & Atl Div 5s
Week's
Price
Friday
N. Y.
105% 105% 105% 10 105% 107%
100% 100%
105% 106% Mar'04
107
107
BONDS
Range
Week's
Price
STOCK EXCHANGE
Week Ending May 6
N. Y.
92%
A-O
90
90% 90
90% 10 89
M-S 115%117 115%Mar'04 "2 115% 119
114 116%
M-S 115 Sale 115
115
J-J
J-J
94%
94% Sale 94%
118%119% 118 Apr'04
F-A
F-A
J-J
M-N
J-J
105
100
94
106
110
81
Feb'04
Oct '99
94% 95%
116
94
118
95
J'ne'02
109% Apr'03
109%Dec'99
78% 180
78% Sale 77
Union El (Chic) 1st g 5s. .1945 A-O
United RRs San Frsf 48.1927 A-O
75% 80
United Rys St L 1st g 48.1934 J-J
80% 5 80% 81
80% 80%
SV Chic St 40-yr cons g 5s. 1936 M-N
99 Dec '97
Gas and Electric Light
5 112%115% Atlanta G L Co lstg 5s... 1947 J-D
11234 115%
Bklyn U Gas 1st con g 5s. 1945 M-N 113
112% 115
112 34 113
Apr e Due May if Due J 'ne ftDueJ'ly tc Due Aug oDue Oct p Due Nov sOption aal«
e
J
1
Bond Record—Continued— Page
BONDS
stock exchange
5J
wh:k Ending mat 6
n. t.
UKO
W
<?hocii a cuii See
Cm ll & 1) consol s
May
Last Sale
6
J-D 132^ 133
96
J-D
M-N
3284
J-.I
130-4
A-0
3214
1214
1224
120
80
80 34
78
110
J-J
Q-M
803« Sale
78...1905 A-O 101
2dgi
1937 J-J
Cin I) & I 1st iru g 68.. .1941 M-N n'io'v
C I St B & C See C C C c& St L
Cin S cfc C See C C C St B
Clearfield cfc Mali Aee B K & V
Clev Cin C & St L gen g 4s 199.: J-D 1004 Sale
Cairo Div 1st gold 48.. ..1939 J-J 101 4 kale
95
Div Iatg4s.l991 JCin
101
St L Div 1st col tr g4s.. L990 M-N
101»a
Registered
1990 M-N
93
100
Spr cfc Col Div Ietg4a..l940 M-S
95 ....
Val Div 1st g 4s.. .1940 J-J
C I St Lcfc C consol 68..1920 M-N 103 ....
1st gold 4s
Q.J 100 102
102
Registered
fcl936 S-F
Cin S cfc CI con 1st gas. .1928 J-J 1114.—
1914 J-D
CCCcfc I consol 7s
11114 J-D
Consol sink fund 7s
General consol gold 6s. P. 14 J-J 127
Registered
1934 J-J
IndBlcfc
1st prel 48.1940 A-0
1st i>f 5s...dl938 Q-J
O Ind &
964.
Peocfc East 1st con 4s. ..1940 A-0
60
Income 4s
L990 Apr
€B Lor cfc Wh con 1st g 5s. 1933 A-O i09"
Clev & Marietta Bee Penn RB
Clev cfc Mahon V'al g 5s. ..1938 J-J 115>a.
.
W& M
WW
'
WW
Hock Val See Hock Val
Conn <fc Term See N cfc
Oonn <fc Pas Rivs 1st g 4s. 1943 A-0
See CM cfc St P
I \ak & Gt So
J Dallas cfc Waco See M K cfc T
W
1
& Western 7s.. .190 M-S
Morris* Essex Ist7s...l914 M-N
Del Lack
1st consol guar 7s
1915 J-D
1915 J-D
2000 J-D
K Y Lack &
1st 68...1921 J-J
Construction 5s
1923 FA
Term & improve4s
1923 M-N
Syr Bmgcfc N Y 1st 7s. .190(5 A-O
Warren 1st ref gu g 3 48.2000 F-A
©el & Hud 1st Pa Div 7s. 1917 M-S
Reeristered
1917 M-S
Alb cfc Sus 1st con gu 78.1900 A-O
Registered
1906 A-0
Guar gold 6s
1906 A-O
1900 A-0
Registered
Rens cfc Saratoga 1st 78.1921 M-N
Registered
1921 M-N
Del Riv RR Bridge seel'aRR
Denvcfe R Grist con g4s. 1930 J-J
Consol gold 4 4s
1930 J-J
Improvement gold 5s. ..1928 J-B
Rio Gr West 1st g 4s
1939 J-J
Consol and col trust 4s 194ii A-O
Utah Cent lstgug 4s al917 A-0
Rio Gr So gu See Rio Gr So
Den cfc S West gen s f g 5s 1929 J-D
Registered
lstref gu g 3 4s
W
,
DesMol&FtD
See
OR IP
cfc
.
1995 J-B
1951 J-B
2d 6s
cfc Atl g 5s. .1937
J-J
L/'astof Minn A'eeStPM&M
-Ciast Ten Va cfc Ga See So Ry
Elgin J ol
East 1st g 6s. 1941 M-N
Elm Cort cfc JSI o See Eeh cfc Y
Brie 1st ext gold 4s
1947 M-N
2d ext gold 5s
1919 M-S
3d ext gold 4 4s
1923 M-S
&
N
4th ext gold 5s
1920 A-O
6th ext gold 4s
1928 J-B
1st consol goU17s
1920 M-S
iBt consol g fund 7s
1920 M-S
Erie 1st con g 4s prior. .1990 J-J
Registered
1990 J-J
let consol gen lieu g 4s.. 1990 J-J
Registered
1990 J-J
Penn coll tr g 4s
1951 FA
Bull Is Y<fc Erie 1st 7s. .1910 J-B
Bull cfc S
gold 0s
190S J-J
Chic cfc Erie 1st gold 6s.. 1982 M-N
Jeff lUi Istgug5e....al909 A-0
Long Bock consol g 6s..l985 A-O
Coal cfc RK 1st cur gu 68.1922 M-N
Dock & Imp 1st cur 6s.. 1913 J-J
KViii Cireeu E gu g 5s. 19 40 M-N
Y Sus cfc W 1st rcl 68.1937 J-J
2d gold 4 "as
1937 FA
1
General gold 5s
1940 K-A
Terminal 1st gold 5s... 19 48 M-N
Regis |5,000 eacli... L943 M-N
Mid KRol N J l8tg68.1910 A-0
Wilk .1: Ea 1st gu g 5s. 1942| J-B
W
H
98
101
10034 1014
98
98
993.1 10234
99
99
100 l4 100^4
99 Jan '04
102 Dec '02
94 4Aug'03
105 Jan '04
105
101 4Mar'04
10041014
110 4 Mar'01
120 J*ly'03
110 4110 4
Mar'04
128" i28"
128
105
116
95
98
58
65
112 41124
Feb'04
116
116
59 Apr '04
8334
85
101
11
Bkn
lsi
See St
B
tr Is
A-0
Registered. A
W
s
192
1921
Greenbrier Rv See Ches cfc
Gulf <fcSIl8trefcfct g 5s 61952 J-J
cfc St Jo
SeeCB&Q
ousatonic SeeH Y N Hcfc H
Hock Val lstconsol g4 4s. 1999
1999
Registered
Col& H V 1st ext g 4s. .1948
Houst E cfc
Tex See So Pac
102
....
10234
71
1074
Apr'04
102
10134
1034
004
!'4=8
1074
74
634
894
66
944
94=8 Sale
94
93 4
94\ ;>8
93 4 38
90
934
>
103
1034Apr'04
102
1034
Sale
107
1074
107 4
107 Si
1
100 4 Apr'04
1O3
107
41074
4107 4
Han
107
W
Houst cfc Tex Cen See So Pac Co
1951
1953
1951
1951
1951
1952
34s
Registered
1st g34s
1st gold 3s sterling
Coll Trust gold 4s
Extended
cfc
1144.
Tex gold
4s.. ..1953
Registered
Cairo Bridge gold 4s
,
,
W
1004 100
Apr'O
115
10141014
1014 1014 Apr'O
Mar'O
94
99>4 0ct
'0
102
103
102
NTov'03
101
99
104
103
101
4 Apr'04
103
Oct
Si
'01
.
94
105
85 4
80
93"
93 Apr'04
101 4 Oct '99
100 Nov'00
106 a4 Mar'04
95
101
934 95
123 May'99
85 4 Mar'04
110
82 4.
1034
102
101
Apr'04
1064Mar'03
93 4
93 4
934
4
115
115
U34Mar'0
1952
Registered
LN O
1953
844
1950
8384
Louisville Div gold 34s. 1953
Registered
1953
1921
Middle Bivreg5s
St Bouis Biv gold 3s
1951
Registered
1951
Gold 34s
1901
11038111 112«feJan'04
112=8 11 2«fe
1951
Registered
129'4Feb'04
Spring Biv 1st g 34s. ..1951
1294 1294
1263a
130 34
131 4 Apr '04
Western Bines 1st g 4s. .1951
1303sl314
'98
Oct
140
Registered
1951
1293i
Bellev&Car 1st 6s
1923
129 130 1293s 1293s
127 12P3j.
Carb cfc Shaw 1st g 4s.. .1932
3
114 4 Sale 114
11434
III4H434
Chic St B cfc N O g 5s.. .1951
100
1004 Jan '04
1951
Registered
1004 1004
1074
1097, Feb '04
10978 10978
Gold 34s
1951
102 Feb '03
Registered
1951
13334 Mar'04
134 4.
Memph Biv 1st g4s...l951
13334 1374
149 Aug'01
Registered
1951
i"05«6!
1054 Apr '04
St
B Sou 1st gu g 4s
1931
1054108
122 J'ne'99
Ind Bl cfc West See C C C cfc St B
3
103 4
106 Mar'04
Ind Bee cfc
1st g 5s
1935
106 106
103 Apr '04
lstguargold 5s
1935
103 103
14334 Nov'02
1384
111
Ind
cfc la 1st g 4s
1950
1374
1474 J'ne'02
Intcfc Great Nor lstg 6s.. 1919
2d gold 5s
1909
99 Sale
984
99
3d gold 4s
1921
29 9634 994
5
1064 106 8 May'03
Iowa Central 1st gold 6s.. 1938
106 4 Sale 1064 1064
Refunding g4s
1951
103 1064
Jefferson RR See Erie
964 96i* 95 s8
964
94
97
S5 ....
84 4 Apr '04
83
854 Kal A cfc G R See L S cfc M S
an cfc Mich See Tol cfc O C
97 Jan '02
K C Ft S cfc
See St B cfc S F
25
24
KCcfcMRcfcB SeeStB&SF
24
24
36
61
Sale
"98""
106 3, 106'4
.1244 1244 Apr'04
90 Nov'98
122 126 119 NTov'03
3
120 4
119=4 Mar'04
934
98 4 Apr '04
1244 1244
924
118
87
11934
106
106
984
1024 Dec '03
104
ibl"Mar'02
108 ....
1064....
Mar'04
106
9841014
116
99 4 Sale
70
1074Dec'02
Feb'04
Mar'04
994 100
70 NTov'03
101
119
1114Saie 1114
89
12
1114
109
89
Feb'04
89
99 101
118=8119=8
97 100
4112
89
M
M
See
K <fc T
gold 3a. .1950
Kan C cfc Pacific
Kan City Sou 1st
111
Feb '01
Registered
97
94
93
....
954 94
93=8
Jan '04
1094.
111
1124.
U44Apr'04
94
79
84
10934
1124
111
111
1144116
May'03
1123a Apr'04
114
113
1084
1104
1084
,
132<s8 133
Sale
92
1164
11634 117
102
132
4
28
106 Aug'02
132 Apr '04
118 34 Apr '04
113 4 Nov '03
108 4 Jan '04
"4
1164
1124
1064
3304
99
101
117
1014
111
100
102 4
1144
111
132 78 11
130 Aug'03
98 7„ 136
983b
98 4 Jan '04
864
87
83
8534 Feb'04
"8
90 4
914
1254J'ne'03
98 34 Sale
91
126
104
1084H1
1084
1324
1304
87
112381124
111
111
1017e j'ue'03
100
13141354
984
984 984
84
874
96 4
8534
88 34
85»4
934
11641194
130 132
113 4118 34
10841084
Apr '04
09 4111
100 loisg
1
100
Apr '04
4104
11341134
102
1134
1134 Jan
111
109
11034
Apr '04
ll()34lll=8
109
Apr'04
1064109
isci
'04
1,1.
704 Sale
1950
Kentucky Cent See B cfc N
Keok cfc Bes Mo -See C R I cfc P
WI.OI in
Knoxville cfc Ohio See So Ry
Lake Erie cfc lstg 5s. .1937
2d gold 5s
1941
North Ohio 1st gu g 5s.. 1945
B Sho cfc Mich S See N Y Cent
Lehigh Val (Pa) coll g 5s. 1997
Beh Val N Y 1st gu g 4 4s. 1940
Registered
1940
Leh V Ter Ry 1st gu g 58.1941
Registered
1941
Leh V Coal Co lstgu g 6s. 1933
Leh cfc N Y 1st guar g 4s.. 1945
Registered
1945
ElCcfcN 1st gist pi Oa.1914
Gold guar 5s
1914
Leh cfc Hud R <S'ee Cent of N J
Leh cfc Wilkesb &ee Cent of N J
Leroy cfc Caney Val See Mo P
Long Dock 6'ee Erie
Long Isl'd— 1st con g5s./il931
W
1st oonsol gold 4s
General gold 4s
Ferry gold 44s
Gold 4s
119
Sale
109*"
'.'.'.'.'.
1938
1922
1932
1949
1934
1
011
83
1114112
107
107
107 Apr '04
105 Jan '04
113=8 J'he'03
109 4 Oct '99
107 Jan '04
94 Dec '03
.
1134.
.
1094.
100
100
100
Mar'03
115381174 116
Apr'04
100
101
100
Apr'04
70=8
11041124
Feb'04
112
68
1154119
119
1124 Apr'04
i'66"
'.'.'..
107 107
10434 1074
105 105
107
107
116
116
98 410034
Feb '04
101
Oct '00
Apr'04
Jan '02
98
99
111
96 7e
1014
994
105 4 Mar'03
112 Mar' 02
M
RB
BONDS—Continued
Oct '00
/t.1931
Unified gold 4s
Debenture gold 5s
Bklyncfc Mont lstg 6s.. 1911
lBt5s
1911
N V B cfc B 1st con g 5s 1 935
1st g5s
1927
Ycfc
NorShB lstcon ggu5sol932
Louisv cfc Nashv gen g 68.1930
Gold 6s
1937
Unified gold 4s
1940
Registered
1940
Coll trust gold 6s
1931
6-20-yr col tr deed g 4s. 828
E Hcfc Nash lstg 6s
1919
N
704
63
119
105 4.
107
102 4.
110
70
1124 Jan '02
112 4 Apr '02
1174 117 4
1174118
6
11541174
109 4.
110 4 Dec'03
100
101 208 "98"" ioi"*
100 Jan '02
110 Mar'04
110
109
964.
1134.
113
110
101
;,
4
Sale
96=8
96=8
16
964
96=4
Nov'03
Next 1'ase.
<>iui inn)
66
66
96
98
1'
884....
93=8
93%
Purchase money g 4s... 1949
Ed El 111 let conv g 5s. .1910
lstconsol gold 5s
I
con g. is 1989 J-J
Electric i.i«in
Mnt Fuel Gas Co See Poop Qttm
Newark Cons Gas cong 5s 1948
6s. ..1948
NfYGELHcfcPg
L996
NYcfcQElBcfcPlstcon g6sl930
N Y cfc Rich Gas 1st g 6s. 82
Peo Gas cfc C 1st gu g 6s. .1901
2d guar gold 6s
1904
lstcon gold 0s
L948
Refunding gold 5s
1847
OhG-LtfcCko lstgu g6s 1937
Con G Coot Ch lstgu g5s. '36
1
L8
'.'.'.'.'.
KdEl
Term
GtNor— CB&Qcoll
1st gold
96 4
964
59
68
112 4 Feb '04
I
1
Gray's Pt
Registered
See
1
102
78
116
1034
Grand Rap<fc Ind Ave Penn RB
Illinois Central 1st g4s..l951
1044Nov'01
See.
(
Har
'
Electric Light
C Co
Co
105
107
74
Mar'98
10741074
75
Low High
"2 116
101
101
cfc
1014
Feb '04
L9 17 A-O
63
71
05 Feb'04
P O cV (J Uo
P li ct C Co
Detroit City Ga8 g 5a
L928 J-J
96
97
97
974
Det Gas Co con 1st g 6m... 91 s FA 100 105 105 J'no'03
Kd El 111 Bkn See K !o K Lcfc
Ed E 111 See N Y G cfc E L d
EqG LN Y 1st con g6e..l982 M-S 111
112 Nov'03
Eq G cfc Fuel See P G cfc C Co
Gas cfc Eleo Berg Ooog 58.1841 J-D
61 4 Oct 'Ol
Gen Electric deb n 34s. .'1942 K-A 88 Sale 88
88
GrRapG L Co 1st g 6s. ..1916 FA
107 34 1
Hudson Co Ga8 Lai g os. .1919 M N 3.02 4
104'»4 Mar'04
Kings Co El Lcfc P g 5s.
A-O
Purchase money 6s
199, A-O 1174119
119 Apr'04
cfc
Ga.s
al
Dec*03
1
<fe
Bullalo Gas Lit g 5s
Con
1
107
January
cfc
100 '4
101 4
M
Qua ami
W&DenC
& S A See So Pac Co
l*al H & H of 1882 1st 5s. 1913
Georgia
Ala See Sea A Bine
Ga Car & Nor See Sea A Bine
Georgia Pacific See So Ky
Gila V G
Nor See So Pac Co
«
95 8 1014 Gouv
Oswegat See N Y Cent
1916 J-J
Dul So Shore
Ch G L
1114
J'ne'02
1054
Sale
Since
-5 gq
High
Mar'04
116
101
112
101
*105
100
Ind lstcon gug6s..l926
F^argo <fe So See Ch M cfc St P
lint& Pere M Bee Pere Mar
Fla C <fc Penin See Sea Air Pine
Fort St U D Co lstg 44s. 1941
Ft
1st g 6s. ...1921
Ft
RioGr 1st g 4s... 192/
Dec '03
Apr '04
©et Sou lstg 4s
74
75 4Aug'03
Ohio Sou Biv 1st g 4s. ..1941 M-S
79
804 79 Apr '04
Dul& Iron Range 1st 5s.. 1937 A-O *1104
1104 1104
Registered
1937 A-O
Gold 4s
122 4
82 34
1184
Ev&
or
L as! Sale
6
Ask Low
Bid
1st general gold 5s
1942
Mt Vernon 1st gold 6s. .1923
Sull Co Branch 1st g 58.1930
W&
104 4 Dec '03
113 Oct '00
113 Deo '03
W
Des M cfc Minn See Ch & N
Des Moi Un Ry 1st g 5s.. 1917 M-N
Det M & Tol See JL S & M So
Det & Mack 1st lieu g 4s. 1995 J-B
129-4 129 34
U14Apr'04
1114
f
Oler & Pitts See Penn Co
1947 J-J
<5ol Midland 1st g 4s
cfc Sou 1st g 4s. ..1929 F-A
tlorado
luin cfc Greenr Set So By
1304131
May
Range
If eelc's
Ra nge
Friday
N. Y.
1304133
133
Deo'03
Feb'04
131
129% Mar'iM
133
93
CKicfer
1 cfc
High Ac
Price
STOCK EXCHANGE
January 1
Week Ending May 6
Low High Erie & Pitts See Penn Co
Evans & T H 1st cons 68.1921
Since
or
[Vol. lxxvih,
2
BONDS
Range
Weeic's
Range
Ask Low
Bid
bStL SeeAtchTcfcSaFe
See 111 Cent
Chic st
Chic st Left Pitts He Penn Co
Chic SI P M a i) con 68.. .1980
Cons 0s reduced to 3 4s.) 980
Ch St P & Minn IstgOs 1918
Nor Wisconsin 1st 88.. .1930
8t r & s City 1st g 88... 1919
Chlcatro Tit Trans g 4s... 1947
Chic.v- West [ndgeng6Rol932
Mich See Fere Marq
Chic &
Price
Friday
'
88
104
88 4
1054
1174119
933g
Eq u
&
I
KCii 1st grig 6s. 1906
Mu Fuel Gas si gu u' 6s. 1947
Syracuse Lighting 1st g 5s. '51
Trenton G cfc El 1st g 5s.. 19 19
107 4 Sale
92 4 Sale
103 4 104
107 4 148 107 108=4
93=4
92 4 64 90
102 4 305 4
117
1154 117
117«
1004102
101 Feb'04
100 100
100 Mar'04
107
914
1034Apr'04
110=4
101
974
4 J 'ly '03
100=,
101
1023g
100 4 Deo '03
12«34 Mar'04
103 Apr'04
107 Apr'04
105 4
105 4
101 Mar'04
105 Apr'04
121
,
103
107
105 4 Sale
103
105
»8«a
JLacGaBLotSt L latg6s.«1919
1064108 10634 107
18 108 1084
Milwaukee Cas 1. 1st 48.. 192
N
89
89*8 Apr'04
109 Feb'01
87 4 90
•KuihIco Friday; latest bit! and asked this week. aDueJan bDueFeb dDueApr ePueMay fcDueJ'ly JcDueAug oDueOot gDueDeo
1
1
118=4
124
108 104
106 4 108
104 1064
101 10134
105 105
s Option sal©
—
May
7,
4
Bond Record— Continued— Page
BONUS
STOCK EXCHANGE
Week ending mat 6
Loulsv
<fe
Nashv (Continued)
LCin& Lex gold 44s. -.1931
NO
NO
<fc
<fc
M
Week's
Range or
High. No Low High,
Ask Low
1084 Jan "08
125 Mar'04
123% vii"
110
122
75
J'ue'02
1054
113
Nov'99
99
104 4
97% Jan '04
107 4 J'ne'o3
92 4
91%
91 34
92
1952 J-J
ManSW
68
133)
74
6%
115
115
115
112
914 974
1014104
ib~7
4
109 4
1st gold 6s.. ..1910
Mich Cent See N Y Cent
Mid of N J See Erie
67%
13 4
674
64
714
13%
124
10 34
7
7
6
954 95 34 Apr '04
90% J'ly '01
MS
Hex North
J-D
105
91
97 h
May'00
SAW SeeChic&NW
& Mad See Chic & N W
L
Mil
Mil
Mil
* North See Ch M & St P
Minn & St L 1st gold 7s. .1927
1909
Iowa Ex 1st gold 7s
Pacific Ex 1st gold 6s. ..1921
78.1910
South West Ex 1st g
1st consol goldos
1st and refund gold 4s. .1949
N
Minn St L gu See B C
R&
&
1114.
1174.
1154.
113
95
M-S
121
113
.
964
.
MStP<fcSSMcong4intgn'38 J-J
M(fePl8t5s8tpd4aintgu 1936 J-J
& 1st g 4 int gu 1926 J-J
SS
Minn Un See St P
Mo Kan & Tex let g 4s.. .1990 J-D
2d gold 4s
#1990 F-A
1944 M-N
1st ext gold 5s
Div
ref
...2001
A-O
Li
1st
4s.
St
g
M
M A
M &M
1004
Mo K & E
1st
gu g
5s. ..1942
86
108
A-O
M K & T of T 1st gu g 58.1942 M-S
Sher Sh & So 1st gu g 5s. 1943
1906
Missouri Pacific 3d7s
1920
let consol gold 6s
Trust gold 5a stamped. al917
Registered
ol917
1920
1st coU gold 5s
Cent Br Ry 1st gu g 4s. 1919 FA
Leroy&C V A List g 5s 1926 J-J
Pac R of Mo let ex g 4s. 1938 F-A
2d extended gold 5s... 1938 J-J
& ref gold 4s. .1929
M
78 a4
103 4
Mar'04
964 1004
754 81
984 104%
1024
122%
105%
80
102
86
82
102
8S 3,
3 1064 111
3i5
99 1024
100 103
107% 109 4
118% 122%
104
88% Sale
92
8S
91
884
92
101
1114
J-D
126
120
93
113
88
Q-J
M-S
F-A
Q-F
'
140
5S
84
91
Apr '04
Apr '04
93 4 Apr '04
91
126
130
94
114
884 91
Jan '04
Apr '04
984Nov'03
90
M
W
1234 Sale 1234
111
W
NewH&D SeeNYNH&H
NJJuncRR See NY Cent
New & Cin Bdge See Penn Co
N O <& N E prior liun g 6s pl915
N Y Bkln & Man Bch See L
N YCent<fc H Rivg 348.1997
A-O
118
118
1014
73%
111
113
116
111
101 4
Sale
MN
Sale
73%
98%
98
101
100%
.
.
101
'
99%
89% Sale
994
1084
107
99 34
Apr'04
99><
114
Feb '02
121
139
Nov'03
Jan '03
49 106% 109
111
10
20
1004
OS
98
!
100%
B8
984 99%
N
N
122
13
10541064
97"*
'974
ibo"sep v
113
1154
Apr'04
113
115
4
11541174
1154
113 34 Jan'O
1044 Apr'04
1034 104
101
104
104 4
102% 104%
Mar'04
101
101
W
101% 101%
58 10041034-
<fe
Ill
112>*
.
1996
PocahC& C Joint 4s.. 1941
CC&Tlstgug5s
1922
Scio V & N E 1st gu g 4s 1989
North Illinois See Chi & N
North Ohio See L Erie &
Nor Pac— Prior lien g 4s. .1997
Registered
1997
General lien gold 3s
a2047
Registered
a2047
St PaiU-Dul Div g 4s
1990
Registered
1990
Registered
A-O
J-D
"91
C B <fe Q coll tr 4s
StP&NP
See
4 Sale
1044
99%
M-N
gen g
6s. ...1923
Nor & Mont
99%
....
51
30
1254129
964 99
874 91%
994ibl4
1014
1044 Sale 103% 1044 66 101410441014
102% Apr'04
101 1024.
72 4 Sale
72
Q-F
724 92 70 4 73
69
Q-F
704 Feb '04
68% 704J-D
974
97%.Tan '04
97% 97%
Q-J
J-D
Gt Nor
Registered certific's..l923
St Paul & Dul 1st 5e.... 1931
2d 5s
1917
1st consol gold 4s
1968
Wash Cent 1st g 4s
1948
Nor Pac Ter Co 1st g 6s. .1933
Nor Ry Cal See So Pac
Nor Wis See C St P
&O
96 4 Sep '03
90 34
91 34
1074J'ly'01
J-J
WW Q-J
F-A
Q-F
F-A
A-O
J-D
121 34
.
119
.
132
1084.
112
106
96 34
85
1224 Mar'04
12241224,
J'ly '99
J'ly 'O
4
1054 Apr'04
.
10541084
964 Nov'03
.
"85"" "8*5"
85
85
112 4 Mar'04
.
1124.
111
113
105
1094
108
109
M
See
See
&W
OInd
hio River RR
N Y Cent
CCC
& St L
1144May'03
1st g 5s. 1936
Mo Pac
g44s.. 1917 A-O
Sink l'und subsidy g 6s. .1910 M-N
Penn Co— Guar 1st g 4 4s. 1921 J-J
ac of Missouri
100
66 73
1014
108 4 J'ly '02
109
1921 J-J
Guar 34s coll trust reg.1937 M-S
Guar 3 4s coll tr ser B...1941
76 a4
'04
1014 1014
100% Apr'04
1004 Mar'04
100% Mar'04
99 Dec '02
99 4
99 4
994 Nov'02
894
90
88 4 Apr'04
S7%
88
88
*8
S0 34 88% 91 Jan '03
105 34 108 105% Mar'04
106 102 Mar'04
98
100
100 34
102%
100%
10041004
100%
99 41014
90
104
102
Series
Series
Series
Series
Pitt* Ft
90
834
105%
102
102
102
B guar
1942
1942
1945
1949
C guar
D 4s guar
E 3 guar g
W A4C 1st 7s.
..1912
2d7s
3d 7s
Penn RR 1st
A-O
M-N
M-N
F-A
J-J
1912 J-J
A1912 A-O
g 4s. 1923 M-N
Consol sterling g 6s
1905 J-J
Con currency 6s reg...#1905 Q-M
iio"
MISCELLANEOUS BONOS—Continued
108%
real est
Apr '03
Apr'0'2
IO8 3
107 4 Apr '04
102 Nov'98
108%
109
106 4
87
90
.
1064 108
924 Dec '03
95% Mar'04
118
95% 96
Dec'03
1084 Aug'03
N<fcOBdgegengug44sl945 J-J '102
PCC&StLgu44sA...1940 A-O 108
100
85 4
1024.
Tr Co certif's gu g 34s. 1916 M-N
95%
C St L & P 1st con g 5s. 1932 A-O 115 34 118
Registered
1932 A-O
C1& Pgengug44sserA.'42 J-J 113%
Series B
1942 A-O 112%
ScriesC 34s
93
1948 M-N
Series D34s
1950 F-A
94
Erie<fe Pitts gu g 3 4s B. 1940 J-J
944
Series C
1940 J-J
944
98
80
86
108%
See
1st s fond
Registered
96% 994
994
Jan
122
Apr '04
NY&LongBr See Cent of N J
N Y & N E See N Y N H & H
New York New Hav & Hart—
131 34 Apr '03
Housatonic R con g 5s. .1937 M-N 122%
N H & Derby con g 5s. .1918 M-N
101% Apr'04
1905 J-J 1034.
N Y&N E 1st 7s
101 Sep '03
1st 6s
1905 J-J 102
Y
H
N Y & North See N C &
N Y O & W ref 1st g 4s. .^1992 M-S 102 4 Sale 100 34 1024
100 Dec '03
Regis §5,000 only
^1992 M-S
N Y & Put See N Y C & H
N Y R B See Long Island
N Y S & W See Erie
N Y Tex & M See So Pac Co
Nor& South 1st g5s
1941 M-N 109 34ll04 1124Apr'04
130 Aug'03
Norf & West gen g 6s
1931 M-N 1244
127 Nov'03
Iinprovem't & ext g 6s. 1934 F-A 1254
126
127 127 Apr'04
New River 1st g 6s
1932 A-O
Sale
97%
W
Ry
con
A-O
97%
98
N&
1st
g 4s. 1996
Panama
Dec'99
74
97 4
109% 112 4
'04
1064 1004
1064Nov'00
W&
W
N
Jan
J'ne'02
120
Dec '99
J'ly '02
Apr '04
109% Apr'04
122
127
Oswego & Rome See NYC
1234 O C F & St P See C & N W
1104115
Fac Coast Co 1st g 5s. ...1946 J-D 1084.
1234
Apr '04
Coal and Iron
Col C & I Dev Co gu g os.1909 J-J
55 Nov'00
Col Fuel Co gen gold 6s. ..1919 M-N "102
105 Mar'04
Col F&ICo gen s t g 5s. 1943 F-A
9S
984 98 4 Apr'04
Convertible deb g 5s
1911 F-A * 73
73
73
Trust Co otfs
704 71% 714 Apr '04
Gr RivCoa!& C 1st g 6s. .1919 A-O
115 J'ne'02
Jeff <fe Clear C & 1 1st g 58.1926 J-D 1024.
107 May'97
2d gold 5s
1926 J-D 1024.
102 4 Oct '03
Kan<feHC& Cist sf g5s.l951 J-J
1064 Feb '02
Pleas Val Coal 1st g s f 5s. 1928 J-J
105 Oct '00
Roch& Pit C& I pur m 5s. 1946 M-N
Tenn Coal gen 5s
1951 J-J
91 J'ly '03
Tenn Div 1st g 6s
al917 A-O 100
106
106
Birm Div 1st cousol 6s. .1917 J-J 1064107 4 1054 1064
Cah C M Co 1st gu g 63.1922 J-D
102 Dec'03
De Bar C<fc I Co gu g 6s. 1910 F-A 103
1034 103 4
Va Iron Coal & C 1 st g 5s. 194D M-S
72
714
714
Wh LE<fe PCColstg5s.l91t' J-J
32 Jan '00
*No price Friday; latest bid and asked this week, a Due Jan
.
98
.
.
1074.
994
107
99 34
LA
I
J-J
Registered
1997 J-J
Debenture 5s of.. .1884-1904 M-S
Registered
1884-1904 M-S
Registdeb 5s of... 1889-1904 M-S
Debenture g 4s
1890-1905 J-D
Registered
1890-1905 J-D
Debt certs ext g 4s
1905
Registered
1905 M-N
Lake Shore collg 3 4s. ..1998 F-A
Registered
1998 F-A
Mich Cent coll g 3 4s
1998 F-A
Registered
1998 F-A
Beech Creek 1st gu g 4s. 1936 J-J
Registered
1936 J-J
2d gu gold 5s
1936 J-J
Beech Cr Ext 1st g 3 4s 61951 A-O
Apr'02
105 Oct '02
105 4 Nov'01
McK&Y
J-D
General gold 5s
1937 A-O
Ore <fe Cal See So Pac Co
Ore RR & Nav See Un Pac
Ore Short Line See Un Pac
Mohawk* Mai SeeN YC&H
Monongahela Riv See B <fc O
Mont Cent See St P M &
Morgan'e La & T See S P Co
Morrie & Essex See Del L &
Nash Chat & St List 7s. 1913 J-J
1st consol gold 5s
1928 A-O
Jasper Branch 1st g 6s.. 1923 J-J
McM M & Al 1st 6s. .1917 J-J
T & P Branch 1st 6s. ...1917 J-J
Nash Flor & Shef See L & N
Nat of Mex prior lien 448.1926 J-J
1951 A-O
1st consol 4e
JJtyht
1074 J'ly '00
104
2301 J-J 107 Sale
Registered
1997 J -I) 100 1004
Lake Shore gold 34s
1997 J -I)
984
Registered
99
994
1928
Debenture g 4s
Det Mon <fe Tol 1st 78.1900 F-A 1044
Ka A«fcGRlstguc5s.l938 J-J 121
Mahon C'l RR 1st f.s..l934 J-J 118
1st gu 6s. 1932 J-J 125 4
Pitts
1934 J-J 118
2dguar6s
McKees* B V 1st g 6s 1918 J-J 116
Mich Cent 1st consol 6s. 1909 M-S 110
1981 M-S 1204
5s
1931 Q-M
Registered
1940 J-J 106
4s
1940 J-J
Registered
1951 M-S
J
§ 1st g 34s
95%.
1952 M-N
1st g 34s
60
1st
gu
Bat C & Stur
g 3b. 1989 J-D
Y & Harlem g 343. ..2000 M-N
2000 M-N
Registered
Y & North 1st g 5s. ..1927 A O 1134
R
Ocon Istext5s./il922 A-O 115 4 Sale
Oswe & R 2d gu g 5s...el915 F-A
R & O T R 1st gu g 58.1918 M-N
Utica& BlkRivgug4s.l922 J-J 1044
N Y Chic & St L 1st g 48.1937 A-O 104 Salo
Registered
1937 A-O
N Y & Greenw Lake See Erie
N Y & Har See Y C & Hud
See D L &
N Y Lack &
See Erie
N Y L E&
92 34
126
121
90
114
114
974
J-J
91
121
91
884
11141114
126
94
-
4114%
111%1154
1114 Mar'04
91 Feb '04
88
102 l
109
M-N
M-S
J-J
J-J
J-J
107
103 34 107 4
91% 93
106
106
93 Apr '04
100 May'01
102 4 Apr'04
1144 114%
113%
1134Sale 113
109% Oct '03
J-J
1084 sale 107%
High No Low
.
100%
103 Mar'04
109 4 Apr '04
105%....
93 4 94
101 ....
101%....
113 114%
Rlv«fcG Div 1st g48.. 1933 M-N * 91
Registered
1933
Verdi Vi&Wlstg os.1926
Birm
hen
prior
Mob &
g 5s 1945
1945
Mortgage gold 4s
Mob J & K Cist cons g 5s. 1953
Mob & Ohio new gold 6s.. 1927
let extension gold 6s..A1927
General gold 4s
1938
Montgom Div 1st g 5s. .1947
St L & Cairo coU g 4s..el930
1931
Guaranteed g 4s
& O coll 4 e See Southern
Nov'01
1014
113 1154
95 4 98
964
103
1064
11941194 1194
105% Sale 105%
StLIrM<fcSgencong5sl931 A-O
Gen con stamp gUl g 5s 1931 A-O
Unified
88
109
101 4 Sale
103
J-D
M-N
M-N
M-S
M-S
F-A
113
82
102 Jan '04
86 4 Apr '04
108 4 108 4
Dal
120 4120 4
'02
Apr'01
100
78 34
Sale
78 34 Sale
Jan
98
1004 sale 1004
<& Wa 1st gu g 5s.. .1940 M-N
KauC& Pao 1st g 4s.. .1990 F-A
95
Nor & Mont
g
West Shore 1st 4s gu...2301 J-J
WW
Dec '03
112% Dec '03
1204 Feb '04
142
J-D
J-D
A-O
J-D
1934 M-N
884
5
con gug 4s 1993 A-O
NT A Pu 1st 1st
gu 5s. 1910 A-O
NY
l
4s. 1940 J-J
103
ga a
1st
Since
January 1
,
.
13
f
".""
j-n
Moh & Mai 1st gu g 48. .1991 M-S
N J June H gu 1st 4a.. .1986 F-A
Oswe
or
Last Sale
Ask Low
Bid
J-D
MS
103
Reiristerert
109%
122
974 98
89*" "924
4!^
1034
103% Dec '02
1094 109 4
Ry consol 4s. 1990
1990 A-O
Metropol El 1st g 6s. ...1908 J-J
Coloniz g 5s.. ..1931 J-D
Cent
McK'pt&BV See
Metropolitan El See Man Ky
Mex Cent consol gold 4s. .1911 J-J
1st con mo income g 3s.al939 J'ly
2d consol income g 3s..al939 J'ly
1917 A-0
Equip <fc coll gold 5s
1919 A-O
2d series gold 5s
Coll tr g 4 "as 1st Ser....l907 F-A
Mex Internal 1st con g 48.1977
Stamped guaranteed
1977 MS
119
111 Deo '03
115 Jan '04
112 Apr '04
110 Mar'03
97 4 Apr '04
& S 1st gu g 5s.. .1937 F-A 1124
Pens & Atl 1st gu g 6s. .1921 F-A 1144
S & N Ala con gu g 5s. .1930 PA 112 113
1910 A-O 105
Sink fund gold 6s
L & Jeff Bdge Co gu g 4s. .1945 MS 974
LNA&Ch SeeCI&L
Mahon Coal See L S & M S A-O 1034
Fla
an hat tan
Clearf Bit Coal 1st s
Gouv<fe
116% Mar' 02
Apr '04
.
1214.
L<fcN<fcM&Mlstg44sl945 MS
L& N-SonthM joint 4s. 1952 J.J
Registered
N Y Cent & H R—(Continued
Cart A Ad 1st gu g 48.. .1981
122% Aug'03
1930 J-J
2d gold 08
1
101*8....
1st gold 6s. ...1930 J-J
M
January
Last Sale
Range
Priday
May 9
N. Y.
Ramie
Week's
Price
STOCK EXCHANGE
Week Ending May 6
Since
2"=
3
BONDS
Range
Price
Friday
May 6
Bid
M-N
PensacolaDiv gold 6s. ..1920 MS
1921 MS
8t L Div 1st gold 6s
1980 M-S
2d gold 3s
Hender Bdgelatsf g6s.l931 MS
Kentucky Cent gold 4s. .1987 J-J
N
,
1904.]
N. Y.
4
n
96 Jan '04
102 Nov'00
98 34 Apr'04
98% "98%
Apr'04
Mar'04
109% 1114
1164 Feb'01
1014 Jan '04
92 Feb '04
127% Oct '02
1014101 4
108
108
103 4
99 4
89 4
110
119
121
119
120%
103 4
Mar'04
Apr'04
1074 Mar'04
90
964Apr'03
1184 123
96
108
96
110
91
92
121
119
121
119
10441074
on Next Page
Telegraph and Telephone
Am Telep
105 105
95 4 99
79 4
69
73 4
70
<fc
Tel coU tr 4s 1929 J-J
Comm Cable Co 1st g 4s. .2397 Q-J 90 964 100 4 Apr '02
Registered
2397
100 4 Oct '00
Erie T & T col tr g s f 5s. .1926
109 Oct '99
Met T & T 1st s f g5s
1918 M-N 109%
110% Nov'03
MutUu Tel Co See Westn U
N Y & N J Tel gen g 5s. .1920 M-N 105
1054 J'ly '03
h
No Westn Teleg
See
West Un
West Union col tr cur 5s.l93» J-J
Fd and real est g 4 4s. 1950 M-N
Mut Un Tel s fund 6s.. .1911 M-N
NorthwTel guf 44s g.. 1934 J-J
. .
102
106
10141064 Manufacturing
1004104
674 73
b
Due Feb
1084
1
102
107 4J'ne'03
31
105
108 4
1014104 4
103 34 103% Apr'04
100
99% Apr'04
95
70
82
103%
& Industrial
Am Cot Oil ext 448
1915
Am Hide<fe L 1st slg6s.. 1919
Am Spirits Mfg 1st g6s.. 1915
Am Thread 1st col tr 4s. ..1919
Q-F
M-S
M-S
Due May jDueJ'ne A Due
J'ly
e
1084 Sale 1084
101% Sale 1014
J-J
97%
80
85
77
100
81
87
79
p Due Nov
80
80
85 4 Apr '04
'
784 Apr'04
s
Option
sale.
74
99%,
81 4.
88
784i
>
—
—
2
8
J
Bond Record— Concluded— Page 4
BONOS
UK (Continued)
Consol gold 5s
1919
Consol M>ld4s
1943
Convertible
1912
Alieg Val gen gu g 4s.. .1942
Penn
Friday
May
Mar
113
106%
94% 95 "*
101
1st
W
&
Heading cons
99
108
99
V
N. Y.
January 1
109
"a.
Waco & N
Nov'97
121%.
123"aJan'04
93
105
.
U9>4
.
95
109
118
108"a 108 "a
123%123%
J'ne'03
Apr'02
Apr'04
118
118%
HOHi
110%Apr'04
10734
llo"aFeb'04
109"4ll0"a
119i4 119Hi
II914 Apr'04
Nov'97
137
W
&
Pitts McKees
Y See if YCen
Pitts Sh & L E 1st g 5s. ..1940
1st consol gold 5s
1943
,Pitts & West See
Pitts V <k Ash 1st con 5s. 1927
1997
Reading Co gen g 4s
119
109
120 Oct '01
112 "a Dec '02
111
115% Mar'04
98
H&O
112%
Registered
1997
Jersey Cent coll g 4s... 1951
Rensselaer <fc Sar See D it 11
Rich & Dan See South Ry
Rich <fe Meek See Southern
Rio Gr West See Den & Rio Gr
Kio Gr June 1st gu g 5s. ..1939
RiogrSo 1st gold 4s
1940
Guaranteed
1940
!Roch <fc Pitts See ii K & P
Rouie Wat & Og See N Y Cent
Rutland 1st con g 4%s
1941
Rut-(Janad 1 st gu g 4 "as. 1949
Sale
Sale
933*
107
,
&H
104
,St
•
See
DM
913b
>a Mar'04
Mar'03
87
84:
103is
103 l4 Sale
103 "4 Sale
63Hs
104
104
63H;
104
Dec '03
,
100
,
823* Sale
M
118
80^4 Sale
100
See Illinois Cent
1st g 4s bd ctfs.1989
inc bond ctfs...2>1989
J, 2d g 4s
1932
| Consol gold 4s
r
Gray's PtTer 1st gug 5s 1947
Dul £ee Nor Pacific
:St Paul
103
13
104% Dec'03
124"a
110%
KC&MR&Blstgu 58.1929
125
125
11134 112
96 Apr'04
100 Jan '04
82i*
8234
119 "a Feb '04
8034
80
103% 105
119 "a
78
94
77
74
94"a
77"a
74%
39
22
84
108
130%
1933
1933
Registered
Reduced to gold 4"as..l933
Registered.
1933
Dakota ext gold 6s
1910
Mont ext 1st gold 4s.. ..1937
Registered
1937
1st diT Istg5s..l908
E
Nor Div 1st gold 4s. ...1948
Minn Union 1st g 6s.. ..1922
Mont C 1st gu g 6s
1937
Registered.
1937
1st guar gold 5s
1937
Will & S F 1st gold 6a. . 1938
Nor
Pac
P
&
St
See Nor Pac
St P & S'x City See C St P
<fcO
Salt Dake C 1st g s f 6s... 1913
108"a....
116%Apr'01
lll%Apr'04
102 "2 102
106
101"4.
104
May'01
Aug'03
128
135
115
Apr'02
Apr'04
102
I
Mmn
I
108 "a.
Mar'04
May'02
10838 Apr'04
131
140
t
136
J
115%.
115 "a.
74 34
:8Fe Pres& Ph Istg5s...l942
f
<fc
135=8
114%114%
J-J
96 "a Sale
92"a
103%
102 "4
102 "4
Gold4s(OentPaccoU)./fcl949
Registered
k\ 949
Cent Pac 1st
Rogist Bred
Mort guar
ref
117
i
I
I
Gal Hartfc S
2d gold 7s
Ka
105
lll%May'03
102
102
Jan '03
101>4l01% 101
101 14
91 Hi
"a
l
Sale
9034
87 Jan '04
102 Apr'04
99 % 100 "4
99 "4 Mar'03
8534
102
104 "4
105% 105%
97%10l"4
76
85»4
1st g 5s
Western Div 1st g
5s. ..1935
General gold 5s
100
76
105
106
82 '4
Apr'04
108"*
100
82%
107
108%
102
ins
102 Oct '03
102 Apr'04
119 34 Feb '03
101% 102
114% Apr'04
119 Feb '04
114%114%
108%
102
102
119
110
108
110
Mar'04
119
107
108
101
101 Feb '04
lll%Oct '02
101
101
103
103
103
103
Hi
....
....
95
....
91 3
Jan
117H2....
109 Hi 112
12134 123
12)
....
115 ....
107 ....
85 ....
103 34 ....
94
113
94
Dec'03
94
108
93
115
113% Apr'04
113
117
117% 69 117
Apr'04
Mar'04
Jan '04
Apr'04
108% Dec'03
92 Sep '02
109
122
120
115
Mar'04
122%.
109
113%
113%
110%
118% 122
20 120
114 115
J
103% 106
Feb '03
Jan '03
Apr '04
112%Apr'04
93 Dec '03
110 113
11034 112%
112%114%
J'ly'00
117
104% Sep
.
110
95 "4
Oct'O
110
116% 113
110%....
116%
93% 95
117%
91% 92
117%Apr'04
106
Feb'02
109%
94
II6I4 161 111
Feb '04
Apr'04
106
123
112
115
113
HOH2....
108 Hi....
92
116
'04
92% 91% Mar'04
4
87 ....
116%....
113 ....
F-A
J-J
TolP& Wist
1935 J-D
gold 4s. ...1917 J-J
TolStL&Wprlieng3%s.l925 J-J
50-year gold 4s
1950 A-O
Ham & Buff 1st g 4s.hl946 J-D
n Pac
RR &
1
gr g 4s. .1947 J-J
1947
1911
1911
Registered
Ore Ry <fc Nav con g 48.1946
Ore Short Line lstg6s.. 1922
1946
1st consol g 5s
1927
4s & participating
1908
Utah & Nor 1st 7s
1926
Gold 5s
Uni N J RR & C Co See Pa RR
Utah Central See Rio Gr Wes
llSH-Sale
90
108
106 Hi
113
A-O 110%
M 1st gu g 4s.. ..1990 A-O
Kan &
J-J
M-N
M-N
J-D
F-A
J-J
F-A
J.J
J-J
105 "a 108
91% 93
90% Sale
84
85
'02
107%
J'ly'03
115
110
115
Mar'04
100
Sep
112%115%
110
110
'03
118% 39 115 118%
Api '04
93
85
Feb '04
108 110%
106% Mar'04
101
106%
113 Mar'04
112% 113
111 Sep '03
106 Apr'04
105 106
91 Apr'04
91
91
118%
89
108
8934
84
91
84
86
81
69% 71% 69%
91
84
70%
72%
68
Apr '03
109%
109% 109%
106 "4 109%
105% Sale 104% 105% 209 100 34 105%
104 Mar'04
100% 104
97% Sale 97
99% 319 94% 100%
3
96 4 Jan '04
96 34 96%
102% Sale 101'% 102% 16 98% 102%
1 120% 124
122
122
122
22 111 115
115 115% 114% 115
94% Sale 94%
95 218 90% 96%
109%
112 Dec'03
Apr'02
114%
92
98
1
87%
9l"a
85^4
97
87 34
102
84
85 J4
WPa lstg 5s. .1937
Gen
rfl943
West No Car «!>'e« South Ry
97% 101% West Shore See N Y Cent
US
100% 104
114%118
109
100
109
106>4l09%
Sale
95
84
99
81
io>;%
103
102
.
.
.
.
100% 103-'.,
105% 109
J-J
105
108
1
108%
'04
Apr '04
90
Feb'02
67
102
68
102
106% 108%
90
81% Apr '04
90
79% 81%
Mar'02
98
115
Apr'04
30% 40
90
116
'03
Mar'01
Dec'03
Apr'04
110% Nov'03
109 Apr'04
89%
89 J4
23
86
90 \
29
88% 90%
112
112
108
1949 M-S
109%114
109
M
NW
109
91
<fc
& St P See C &
«nt 50-yr 1st gen 4s. 1949 J-J
Winona
\s La
01 34 429
Jan
95% Oct
Nov
gold 5s. ..1930 F-A
Wilkes <& East See Erie
Wil <fc Sioux F Set St P M
60%
116%117H: 116
VaCentA P lstg 6s. .1911 J-J 109%.
Wheel's* L E 1st g5s...l926 A-O 110%.
Wheel Div 1st gold 6s.. 1928 J-J 110
1st consol 4s
101% Apr '03
109% Mar'03
W
Imp
108
102
109
1943 A-O
gold 3-4s
Income 5s
103%
100%
s id
Y&
WestN
102 105
103%
115% Sale 115%
61% Sale
1939
g 5s. .1921
Det & Ch Ext 1st g 6s. .1941
Des Moln Div 1st g 4s.. 1939
1941
Oni Div 1st g3%8
Tol & Ch Div 1st g 4s. ..1941
St Chas Bridge Ut g 6s. 1908
Warren See Del Lac <fe West
Wash Cent See Nor Pac
See Southern
Wash O &
E.\ten<fc
110"4Feb'03
10334 Apr'04
109 Apr'04
108 Apr'04
105 Dec'03
103 Nov'03
.
.
105 "a
i
IftOO
.....I
106% 106%
108
.
100
104
L906
1
La Div B L
WMinW&NWlstgu5s'30
& O C 1st g 5s
1935
Series B
1st lien equip
'00
fcl929
A 1st g 6s.. 1910
cfc
map
Sep
107%
8534 Sale
Mox & Paclstgos
198]
GUa V & N st gu g 5m. 92
Hous B W T 1st g 5s.l933
lut
100
9934 100 "a
1849
gold 3 %»..A:1929
< i
Sale
121
Utah
110
......
103
gu g 4s 1949
Registered
108%
94
Ill
93 a4
116
& North See Un Pacific
& Black R See N Y Cent
Val Ind & W -See Mo P
Ver
irginia Mid See South Ry
Va & Southw't 1st gu 5s. 2003
1939
65
70% Wabash 1st gold 5s
1939
2d gold 5s
96
99%
1939
Debenture
series
A
92% 92%
110
69% Apr'04
96%
99"a
92 %
92 "4
106>aFeb'02
Apr'04
105% Feb '04
91
W 1st gug 5s.. ..1941
N
Dec
'01
10434 104
.
A<fc
102V
68"a
Sll Sp Oca & G See Atl Coast L
Bod Bay & So 1st g 5s
1924 J-J
So Car <fc Ga See Southern
Sh Pac Co— Coll tr g 4 "as. 1 905
i
'04
<fc
I
;
Jan
113 34
108%
130%
Utica
Seaboard Air Line g 4s. ..1950
Coll tr refund g 5s
1911
Car Cent 1st con g 4s... 1949
Fla Cen & Pen 1st g 5s. 1918
1st laud gr ext g 5s... 1930
Consol gold os
1943
Ga <fe Ala Ry 1st con 5s o 1945
Ga Car <fe No 1st gu g 5s 1929
Seab& Roa 1st 5s
1926
Sher Shr <fc So See M K <fe T
-
110
81
107
Hi
130
121
121
110
2000 J-D
?2000 Mar
1931 J-
Tol
102%
M
8 A & A P See So Pac Co
(SF&N P 1st sink g 5s. 1919
Bav F & West See Atl Coast D
Scioto Val
N E See Nor W
82 Sale
10734
107
.
Registered
117
101%
106% Apr '04
113 Jan '01
100 Jan '04
Hi
A-O 109%111
F-A 115 Sale
St L M Bge Ter gu g os.1930 A-O 108%
119% Tex & N O See So Pac Co
98%
80% Tex & Pac E Div 1st g 6s .1905 M-S
1st lien convert 4s
133
106
106
112
113
90% 93%
Apr'04
115% Sale 115%
110%111% Ulster&Dellstcong53 1928 J-D
Apr'97
114ia Mar'04
117 Jan '04
•
130
121
107%
107% 1073,, 110
Tor
100
110
112
113
93
<fe
107^108%
102 "a
Apr'04
112
113
93
124% 127% Feb '02
of St L 1st g 4%s..l939
er
1894-1944
1st con gold 6s
107»8 n0%
130 132
107"% Apr'04
.
Sale
High No Low HiqK
Low
127" 129
121 Sale
A
1
92% 96%
72% 78%
70
Afik
113
Since
January 1
«S'ee
1st gold 5s
77 »4 Sale
74=8 Sale
Last Sale
Range
So
r
96
96
100 100
79 "a 84
"a
94 "2 Sale
6
102
102
104
114
114
C&
2d gold inc 5s
M& Man 2d 6s.. .1909
1st consol gold 6s
SA&
& Lew
Penn RR
Syra Bmg N Y A'eeDL&W
rebo & N SeeM K & T
12234 125
110 112
&
Paul
1920
N YT&Mex gu Istg4s.l912
No of Cal 1st gu g 6s
1907
Guaranteed gold 5s
1938
Ore & Cal 1st guar g 5s. 1927
A Pass 1st gug4s. 1943
So P of Ar gu lstg 68...cl909
1st guar g 6s
cl910
8 Pof Cal lstg 6s
1905
1st g 6s series B
1905
1st g 6s scries
D...1906
1 stg 6s series E<fe F...1912
1912
1st gold 6s
1st con guar g 5s
1937
Stamped
1905-.. 1937
SPacofNMex lstg 6s.. 1911
1937
S P Coast 1st gug 4s
1905
Tex<fc N O lst7s
Sabine Div lstg 6s
1912
Con gold 5s
1943
Southern— 1st con g 5a
1994
Registered
1994
Mob & Ohio coll tr g 4s. . 1938
Mem Div 1st g 4%-5s... 1996
1951
St Louis div 1st g 4s
Ala Cen R lstg 6s
1918
Atlife Danvlst g4s
1948
Atl & Yad 1st g guar 48.1949
Greenvlst6s
1916
Col<fe
E T Va & Ga Div g 5s. .1930
Con 1st gold 5s
1956
E Ten reor lien g 5s
1938
Ga Pac Ry 1st g 6s
1922
Knox & Ohio 1st g 6s.. .1925
Rich & Dan con g 6s
1915
Deb 5s stamped
1927
Rich & Aleck 1st g 4s. ..1948
Car
1st
5s.
...1919
So
& Ga
g
Virginia Mid ser C 6s.. .1916
Series D 4-5s
1921
Series E5s
1926
General 5s
1936
Guar stamped
1936
1st cy gu 4s. .1924
West N C 1st con g 6s. .1914
S & N Ala See L & N
Spok Falls & Nor 1st g Gs.1939
Stat Isl Ry 1st gu g 4%s..l943
Sunb
Douis So
BtLSW
'^t
98
94 !4
Wabash
KCFtS<fcMRyrefg4al936
•
98
Dec '03
104
1st 7s. 191
W04W
'
fSt
Apr'04
93
M
LKC&N
KC
2 114181141s
94=8 99%
99 is 153
3
98
ieeFereMarq
St
Br AteTKUAufStL
St D & S Fran 2d g Os Ci B 1906
2d gold 6s Class C
1906
General gold 6s
1931
General gold 5s
1931
St L cfc S F RK cons g 4s. .'96
-'South w Div 1st g 5a.. 1947
Refunding g 4s
1951
FtS& con g 6s. .1928
!
114%
lOl^Nov'Ol
Sag
t Jodi Gr Isl Istg4s...l947
St Law & Adiron lslg 5s. 199(3
2d gold 6s
1990
St L * Cairo See Mob <fc Ohio
St L & Iron Mount ,S'ee
P
.
98 !s
98
105
63
92
115"all5ia
J'ly'97
1141s
99
98
93
&T
1st gold 6s
May'00
117
7s. 1911
Week's
Range or
May
W div 1st g 6s '30
Morgan's La
.
.
PriM
Friday
High No Low High Southern Pac Co (Continued)
Bid
Deo '09
H & TC 1st g58intgu.. 1937 J-J
Aug'03
Consol g6s int guar... 191 A-O 110
97 101 94 "a 97
Gen gold 4s int guar.. 1921 A-O 93
114
106
95
102
108 "a Apr '04
.
Pine Creek reg guar 0S...1932
Pitts Oin <fc St L See Penn Co
Pitts Cleve <fe Tol See B <fc O
Pitts Ft
& Ch See Penn Co
Pitta June 1st gold 6s
1922
Pitts & L Erie 2d g 5s...al92S
Tug
STOCK EXCHANGE
Week Ending Mat 6
Since
.
108 "a.
109 34
1st consol gold 5s
1939
Pt Huron Div 1st g 5s. 1939
SagTu«& H 1st gug 48.1931
Phiia
BONDS
Range
112% Mar'00
gug4%8..1935
D K K K <fe Bge 1st gu 4s g. '30
UrK& Iexistgug4%sl941
Sun <fc Lewis 1st g4s... 19313
U N J RR& Can gen 48.1944
Pensacola & Atl See L«fc Nash
Peo & East See CCC&StL
Peo cfc Pek Un 1st g 6s
1921
2dgold4%s
61921
PereManj-Ch<fc
M 5s 1921
Flint<fc P M g6s
L920
!
2-s
Last Sale
6
Ask Low
Bid
f^s
Clcfc
Weeks
Range or
Trice
STOCK EXCHANGE 2?
Wkkk Endlng Mat 6
N. Y.
[VOL. LXXVIII,
90
Salo
90
MISCELLANEOUS HON DS—Concluded.
Hana tolerating
db Industrial
lstg Os... 19 v.
Bar<& S Car Co
Consul Tobacco 60-JT g
Miscellaneous
J-j
186] I'-A
Registered
196] K-A
Disi 11 See lor conv it g 6s. '27 \ O
DislllU.t Aim Trull Ii g68. 19
J-J
111 St€el Co del) 5s
19IO J-J
Noil -con V drlirii 6a
1913 A-O
In Papei Co 1st run g 68.1918
lint SI Pump 10-yr conv. 6s '18 J-J
iKlllrkri Ir.
IhiC) 1st gS
\-o
[Lack aw steel 1st a 6a
L023 A o
IN at Starch M rg colstgo* L92U M-N
LNai starch 'u * deb 6a.. L82C
-J
is.
1
1
1
69
'68% "64*i
FA
92
92
107
loi
i
Stan Rope
ic
T lstg
gold 5a
'
ioa
68%
68%
68%
88
Sale
69 H"
40
K-A
1
2
1103,
Sale
Sale
'00
59
92
Feb '04
197
107
lOl 3,
101%
88
66
40
1%
233
58% 3
84% 31
Sep '03
Jan '99
96%
98
Jan
99
•.'.;
I
6a.. .1946
19 H
Feb '03
98
88
Kiirm
Apr'04
!'
Adams Ex col tr g4s
1948 M-S 101% Sale 100
101% 28 100
53% 61% Am Dk & Imp 6s See Cent N J
100 34 J'no'02
57 a4 58% Am S$ Cool W Va g 5s. ...1920 M-N
63
68 %
92
105% 107
97 102
92
"92% 83"
B'kl'n I<eiryColstcousg5s '48
ChicJcifc St Yard col g 5s. 1916
Del M A M ldgi' incomes. .1911
Hoboken L<fc 1 gold 6s. ..1910
Mad .si( Garden 1st g 5s. .1919
Yds
4%s.l930
St LTerCupplesStafn* Prop
66% 66
47
86
Oo 1st e 4%s 5-20 year.. 1917
1% 4"< S Yuba Wat Co con g 6s.. 1923
10734 112% Sp Val Wat Works 1st 6s. 1906
68% 79% U S Red& Ref Istslg 68.1931
88
9ii
\
F-A
J-J
A-O
M-N
M-N
Man Boh H<fcLgeng48..1940 M-N
Newp Ne 3hip<S i> D6sdl990 J-J
N V Duck 50- vr 1st g 4s.. 1951 1'A
St Joseph Stlt
1
si
s LeatliOoBldebg08..1tfl3 -N
109% 109%
1
s steel Corpooltr2d 68.d'62> M-N
72
71%
2644
Registered
AptU L9tf( M-N
72 >4
71%
74% 15 68 a4 79
•No price Friday; latest bid and asked. aDueJan fcDueFeb cDueMardD no Apr ADueJ'ly k Duo Aug
.VI
l
......
i
(
^ Income
Sale
1
I.
i
105
o
J-J
05
102%.
76%.
90
100
J-D
J-J
M-S
98%.
Apr'04
Mar'01
76% Mar'04
64
ill
50
Feb'02
90
Apr'04
108
Nov'03
103
"ii" "66%
76% "83"
90
91
113% J'ly'00
Aug'03
79
Due Oct p Due Nov
q
Due Deo sOptionsale
'
—
.
Mat
7,
THE CHRONICLE.
1904. J
Volume
of
NEW YORK
STOCK EXCHANGE
Grand Rapids Gas—
DAILY. WEEKLY AND YEARLY
Stocks
Week ending
May
Saturday
Shares
70,598
301,060
291,159
215,983
185,098
129,979
...
$11,323,900
Sales at
Stock
27,074,501)
Week ending
New York
Exchange
— N o. shares
Bank
shares, par
8
1903
1904
Par value
May
$13,000
"2,000
$15,000
January
1 to
May
6
1903
1904
41,819,636
66,676,322
2,148,476
1,193,867
$111,008,000 $200,204,150 $3,882,932,325 $6,357,627,275
$246,900
$209,500
$16,000
$24,300
BONDS
Government bonds
$15,000
Stato bonds
RR. and mis. bonds
ii,8as"9bo
Total bonds..
See Stock
5s g 1949
Indiana Nat & 111 Gas—
M-N
let 6s 1908
Indianapolis Gas stock 50
D S
Bonds
$994,500
#6,473,800
27,783,750
1,193,867 $111,008,000
Thursday...
Friday
Stocks
Bonds
20,491,750
16.267,300
12,916,900
Tuesday
Wednesday.
Total
State
Bonds
1,891,000
1,864,000
2,091,900
2,416,500
2,065,000
Monday
F-A
Hist 5s 1915
Hartford (Ct) Gas L...25
100
Hudson Co Gas
Railroad &c
Par value
$11,338,900
$39,800
100
10,032,500
$10,122,400
1773
tins Securities
Elizabeth Gas Lt Co.. 100
Essex <fc Hudson Gas 100
Fort Wayne 6s 1925. .J-J
Gas & El Bergen Co. .100
Business at Stock Exchanges
TRANSACTIONS AT THE
6
iyo4
—
44
$319,700
212,500
231,707,000
$232,239,200
$563,650
260,600
243,020,600
$243,844,850
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES
M-N
1st 6s 1920
Jackson Gas Co
5s g 1937
Kansas City Gas
H58 1922
93
64
30
44
81
103
3.
12
97
A-O
15
«a
80
60
50
Log«fc Wab V Int 6s'25. J-D
Madison Gas 6s 1926. A-O 3105
3135
Newark Gas 6s 1944. Q-J
Newark Consol Gas. .100 73ia
5s 1948 See Stock Exch list
H
<fe
HO & Ind C Nat &
A-0 3100
.100
6
J-D
1926
Pat & Pas Gas & EleclOO
M-S
Con g5s 1949
St Joseph Gas 5s 1937. J-J
StPauiGas Gen 5s'44M-S
Syracuse Gas 5s 1946.J-J
48
45
101
94
89
1st 6s
Tclegr
dfc
99
74 H2 Empire Steel
3
94ia
101
10
BO
50
102
65
1*
75
17
67
18
go
87
95
'4
«8
100
6
7
Preferred
100
IfGeneral Chemical ..100
UPreferred
100
30
44
42
48
93
Gold Hill Copper
1
Greene Consol Coppor.10
Preferred
91
90
90
100
102ia 104
17
85
8
38
15
35
29
40
100
102
1
3
Co.. 100
Preferred
100
Hecker-Jones-Jew'l Mill
l8t6s 1922
M-S
Herring. Hall-MarvinlOO
1st preferred
100
2d preferred
100
164
15
27
100
Havana Tobacco
95
ia
15 7e
15
75
HackensackMeadowslOO
Hall Signal Co
100
95ia Havana Commercial. 100
Telephone
H Amer Teleg & Cable 100
Bell Teleph of Buffalo 100
UCentral & So Amer .100
Ches<fc Poto Teleph.. 100
J-J
5s 1909-29
UCommercial Cable ..100
4
100
95
65
54
108
135 !a Electro-Pneuin'ic Tran 1
Pow-
111
Ask
(i
Cotton Oil&Fibre,pref.25 r
3
5
Cramps' Sh& En Bldgl 00
15
25
4^
478
Steel
100
liCrucible
4
36 'a 36 34
100
1; Preterm!
Cuban 6s of 1896
98
Bfl
^Diamond Match Co. 100 129>a 130
Dominion Securities. 100
5
15
Electric Boat
24
100
28
Preferred
62
1O0
66
Electric Lead Reduc'u.50 t
1
Preferred
1
14
60
5ia
Electric Vehicle
100
64
Preferred
9
12
100
3104'
100
58 1938
jh
loo
UPreferred
48
75
100
IILaclede Gas
100
UPreferred
Lafay'eGasl8t6s'24.M.N
No Hudson L
Compressed Air Co...l (Hi
Consolid Car Heating 100
UCons Firew'ks com .100
4'4
Cons Ry Ug<fc Refng. 100
44
Consol Rubber Tire. .100
8101 103
4 14
51ia
Debenture
4s
11
12
f.
Cons Storage BatterylOo
65
66
10
ContTobac'deb 7s'05A-O 31014 102 4
Exch list
50
A-O
ndustrial and Mlscel
Ask
Bid
200
92
60
29
30
40
4
35
8
Philadelphia
10334 104ia Hoboken Land & ImplOO 200
Boston
Week ending
175
200
M-N 3102 104
U5s 1910
May 6
3
Houston Oil
7
100
CommerUnTel(NY).25 115
Unlisted
Bond
Bond
Listed
Listed Unlisted
iyu4
17
20
Preferred
100
Emp & Bay State Tel 100 78 82
shares
sales
sales
shares
shares
share*
95
110
Hudson Realty
47
53
Franklin
100
Internat'lBankingColOO 140 146
100 110 120
$19,500 UGold & Stock
5,000
4,586
$20,000
694
5,301
4
Int'n'IMerc Marine. 100
44
U44s, 1905
81,200
4,310
20,000
11,234
5,336
11,806
Monday
1678 17
90
Preferred
98
100
39,000 Hudson River Teleph 100
5,353
47,500
12,946
6,769
16,810
Tuesday
144ia
80
Col tr deb 4 !al922op'07
Teleph. ..100 143
3,353
58,000 UN
5,871
86,000
6,290
13,026
Wednesday .
10
11
100
5s 1920 See Stock Ex chang e list International Salt
2.822
72,300
46,100
8,327
4,350
21,336
Thursday
40
44
120
123
1st
g
5s
1951
Teleg.
50
HNorthwestern
65,527
2,395
6,664
87,500
1,765
13,750
Friday
International Silver. 100
78
82
6
Pacific <fe Atlantic
25
33
Preferred
100
22,819
$335,527 USouthern & Atlantic 25 100 103
50,042
25,204 $307,100
82,529
Total
1st 68 1948
J-D 3100 102
Electric Companies
"
John B Stetson com. .100 150
•
Preferred
Chicago Edison Co. ..100 146 147ia
100 130 150
Kitchener Gold Mining
Hartford (Ct) Elec Lt 100 238 248
t
4
4
83<
714
20 t
HKingsCoElL&PColOO 182 190 Lanston Monotype
Securities
Lawyers Mort fnsur.100 160 170
88
91
Narragan (Prov) El Co 50
275
A Weekly Review of Outside Market will be found on a preceding page. NY&QElL&PowColOO 37 41 Lawyers' Title Ins. ..100
LightFuel&P of WValOO
Preferred
68
71
100
19ia
ULonllard (P)pref ...100 115
UnitedElectricof NJ100
Street Railways
Street Railways
Bid Ask
Bid Ask
234
6834 69
Mackay Companies ..100 23
43 1949
J-D
CITY
NEW YORK
3
Lake St (Chic) El stk. 100
67
3%
69
Preferred
100
97
99
1st 5s 1928
J-J 8
32
33
10
Ha
15
Madison Sq Garden. .100
Bleeck St& Ful F stk 100
Ferry
Companies
113ia
St5sl930..J&J
..J
-J
ULouisv
8113
1950
96
97
55
65
2d 6s 1919
T]lstmort4s
M-N
'24.
8112
114
Lynn&
Bos
J-D
..100
238
243
1st
5s
Ave
stk
14
7th
Manhattan
14
&
Brooklyn
7
Transit
20
Ferry
stocklOO
6
UB'y
Minneap St Ry 5s See Stk Exch list
99 3< 101
54 7
Mex Nat Construe. pflOO
"Istniort5sl904 ..J-D
107
B<fe
1st 6s 19 11. J-J 105
100
9
10
NewOrlRysCo
2dmort 5s 1914 ...J-J 104 107
Monongahela R Coal. .50
Con 5s 1948 See Stock Exch Ust
27 4 29 4
Preferred
100
Preferred
70
75
_on5sl943 See Stock Exch list
Ferry stk. 100
50 t 25
76
77
111
1952
J-J
3
44s
102 4
Mosler Safe Co
90
100
B'way Surf 1st 5s gu 1924 3109
1st 5s 1922
M-N 3 89
69
71
North
Chic
stock.
100
1905
101
Str
16 7b 19
rental
994
int
as
Enam&
3
Stamp 100
2d 5s
Hob con 5s '46.J-D 107
UNat
100*4
Pub Serv Corp of J 100
79
85
UPreferred
100
UCent'l Crosst'n stk.. 100 300
Hob Fy 1st 5s 1946 M-N 3108 111
121
Tr ctfs 2% to 6% perpet 484 49
National Surety
111st
6s 1922 ...M-N 3117
N
100 1224 125
J 1st 5s 1946. J-J 102
20
North Jersey St Ry 100
stk. 100 205
209
3
NewBrunsCannelCoal 1
OenPkN &
40
60
10th & 23d Sts Ferry 100
1st 4s 1948
M-N 871 3
42
45
Chr't'r& lOtli St stk 100 178 186
96
1st mort 5s 1919. ..J-D 3 92
UNew Central Coal
20
64
Exch
list
ConsTracof
65
Stock
N
J...100
3
4
4
31
32
New Eng Consol Ice. 100
ol& 9th Ave 5s See
IJUnion Ferry stock .100
J-D 1064 107 4
1st 5s 1933
90
N Y Biscuit 6s 1911. M-S 104
Dry D E B & 3—
Hist 6s 1920
M-N
110
Kew'k Pas Ry 5s '30J-J 112 113
111st gold 5s 1932. ..J-D 108
N Y Mtge & Security.100 110 130
Railroad
101
Or & Now 1st 6s '05 A-0 8100 102
UNew York Dock ....100 16 20
IJScrip 5s 1914 ....F-A 100
40
Essex Pas 6s 1905 M-N 31014 102
UPreferred
Buffalo* Suaq pref ...50
85
100
87
U Kighth Avenue st. . . 100 390 400
Rapid Tran St Ry..l00 240
4 76
106
o
Chic Peo & St L pref.100
N Y Transportation. ..20
U Scrip 6s 1914 ....F-A 105
3
1st 5s 1921
A-O 8109 110
4
U42d&GrStF'ystk..lOO 400 410
Am
Lum'r
Deposited stock
3
Nor
& PulplOO
8
334
17
19
8ia
J C Hob& PatersonlOO
44
42dStM& StNAv.,100 50 75
Undeposited stock..
UOntano Silver
100
71ia
M-N 71
27
30
107
4s g 1949
105
Otis Elevator com
100
Prior lien g44s*30M&S
U 1st mort 6s 1910 .M-S 104
834 85
85
87
80
82
So J Gas El & Trao 100
91
Preferred
Con mtg g 5s 1930.J&J
88
100
U2d income 6s 1915 J-J
M-S 100 101
Gug5s 1953
Interborough Rap Tr. 1 00 1084 I09ia
25
Pittsburg Brewing
Income 5s 1930
16
50 r 25 4 26
112
115
45»4
Exc
J-J
93ia
See
St
k
list
Hud
14
46
No
Co Ry 6s'
Preferred
Lex Av & Pav F 5s
Ch R I <fe Pac 4s (w i).... 8
50 t
111
15 \ 16
J-J 110
5s 1928
Metropol Securities .See Stk E x list
Erie conv4sAprl'53A<fcO
82
Pittsburg Coal
86
100
56ia 56^
Pat City con 6s '31. J-D 8120 L24
Preferred
Metropol Street Ry See Stk E x list
Northern Pacifio
100
100
97
2d 6s.... 1914 opt A-O 8100
- -»••
Ninth Avenue stock. 100 185 192
When released
132 13412 Pratt <fe Whitn pref. .100
Rochester Ry
113
100 102 4 105
9914 99
Second Avenue stocklOO 205 208
Realty Assoc (Bklyn)lOO 112
Northern Securities.. 100
96
97
Preferred
100
Royal Bak Powd pref.100 101 102
Pitts Bess & L E
33
36
Hist mort 5s 1909 M-N §102^ 103 >a
50
Con 5s 1930 See Phila list
63
Russell & Erwin
Consol 6s 1948.... F-A 8112 lV2->4
Preferred
77
74
25 t 61
50
2d 5s 1933
J-D 102
185
Safety Car Heat & Lt 100 180
USlxth Avenue stock 100 172 176
Seaboard Air Line
86I4 87i4 Seminole Mining
92
So Side El (Clue) stk. 100
h
Sou Boulev 6s 1945.. J-J 8102 106
Coll tr 5s '07 op (w i)M-S
5 t
H
25
30
Syracuse Rap Tr 5s 1946 8100 101
So Fer 1st 5s 1919. ..A-0 8105 108
25
35
Simpson Crawford Co 100
Va<fc Southwestern. .100
14
Unit Rys(StLTrans) 100
14
80
Third Avenue See Stock Exch list
Deb s 1 6s '24 op '05. .J-J
Industrial and lYLiscel
58
60
Preferred
100
P & 6s 1928 100 106
Singer Mfg Co
Tarry
100 390 410
Gen 4s 1934....SeeStk Exch list
6
YkersStRR 5s 1940A-O 104 106
Alliance Realty
90
Standard
Milling
64
Co. 100
100
6ia
28
UmtRysSanFran Se«Stk Exch list
25
28th & 29th Sts 1st 5s '96 81084 110
Preferred
HAllis-Chalmers
100
100
8>a
13
Wash Ry & El Co.. ..100 12
74
76
UTwenty-Th'd St stk 100 395 400
40
43
5s
UPreferred
100
100
627
J-J
99
Preferred
50>a 52
Deb 5s 1906
96
56
Standard Oil of
UAmer Bank Note Co. 50 54
J. .100 624
76i
76
4sl951
J-D
28
32
Union Ry 1st 6s 1942 F-A 109 111
4*4
4 American Can com. ..100
4>a Standard Coupler comlOO
35ia 36'.
Weatchest 1st 5s '43 J-J 101 105
UWest Chicago St ....100 89
Preferred
Preferred
100
100 110 126
72
UCong 5s 1936.... M-N 7a
Storage Power
4
American Chicle Co. .100
91
94
50
4
BROOKLYN
Exc h'ge
Preferred
82
Swift & Co See Boston St
78
100
Atlan Ave 6s 1909. .A-O 8100 101
ia
American Elevated
1st 5s 1910-1914. ...J-J 3100H 1014
Gas Securities
Con 5s g 1931
A-0 108 110
33
Am Malting6s 1914.J-D 100 102 Tennessee Copper
25 t 31
NEW YORK
Impt 5s See Stock Exc hlist
90
Amer Press Assoo'n.100 75
85
UTexas& Pacifio Coal 100 75
E 5s 1933. .A-O 100 102 Cent Union Gas 1st 5s... 8106 109 Amer Shipbuilding... 100 20
BB&
110
3105
1st 6s 1908
25
A-O
Brooklyn City stock. ..10 231 233
430
Con Gas (N Y) stk. See St k Exc h list
Preferred
84
87
Title Guar <fe Trust ...100 420
100
Con 5s See Stock Exch list
140
Equit Gas con 5s 1932 See Stk E x list Am Soda Foun com.. 100
2
4
Title Ins Co of N Y..100 130
Bkln Crosstn 5s 1908.J-J 102 106
9
94
UMutual Gas
100 270 300
1st pref erred
70
Tonapah Min (Nevada). 1
63
100
Bkn Hgts 1st 5s 1941 A-O 105 106 New Amsterdam Gas
10
13
TrentonPotteries comlOO
2d preferred
11
14
100
Bkln QOo& Sub See Stk Excli list
8IO6I4
85
106^
82
Preferred new
1st consol 6s 1948. .J-J
American Surety
100
50 158 162
Bklyn Rap Tran -See Stk Exch Ust
See Stock Exch list
G EL
Amer Tobacco com... 50 250 500 Trow Directory new. .100 65 i 75
U Coney Is. & Bklyn ..100 330
360
Union Copper
N Y & East River Gas—
UPreferred
10
100 130 140
1st oons g 4s 1948.. J-J 100
112
loo's
1st 5s 1944
J-J 8110
Am Typefo'rs com.. .100 25 30 Union Switch & Signal 50 65
Brk C & N 5s 1939 .J-J 111 114
108
105
Consol 5s 1945
J-J 4106
Preferred
90
Preferred
85
50
100
Gr SUfcNew 1st 6s '06 F-A 100 102
82
84
3=8
Y & Richmond Gas. 100 34
3 7s Union Typewr com.. 100
Amer Writing Paper. 100
Gr'pt ifeLorimer St 1st 6s 102
106
107
147
106
8102
Nor Un 1st 5s 1927. M-N
Preferred
1st preferred
100
100
14>a
8
Kings Co. Elevated—
UStandard Gas com ..100 130 140
75
100 106 107
5s 1919
74
2d preferred
J-J
1st 4s 1949 See Stock Exch list
2
1 34
llPreferred
100 155 170
UBarney&SmCar ...100 10
20
Unit Boxboard& Pap. 100
Nassau Elec pre!
12ia 13
100
112
76
100
1st 5s 1930
M-N
^Preferred
Preferred
100 110 125
6s 1944
A-O 110>a 112
3
34
Bliss Company com
100
U S Cotton Duck
50 140 lti()
1st 4s 1951
See St k Exc h Ust
20
Preferred
50 140 160
U S Envelope com. ..100
OTHER CITIES
N Wb'g&Flatl8tex44s 100 103
65
60
Bond<fc Mtg Guar.... 100 335
360
UPrelerred
100
Steinway 1st 6s 1922. J-J 8115
6
50^, Borden's Cond Milk. .100 118
49
Anier Light & Tract. 100
119
US Light & Heat.... 10
91ia 93
Preferred
Preferred
114
UUSRed& Refining. 100
100
100 109
*8
Camden Land
Baltimore Consolidat See •>alt list
UPreferred
100
3 t
OTHER CITIES
\
6
100
Bay State Gas
U S Shipbuilding
50
100 114 115
16 Celluloid Co
\
Buffalo Street Ry—
97
100
Cent
Fireworks
13
Preferred
Binghaniton Gas 5s 1938 8 94
18
com. 100
1st consul 5s 1931. .F-A 31114 1134 Brooklyn Union Gas deb
Preferred
65
S Steel Corp new 5s See Stk E x list
60
U
100
Deb 6s 1917
A.O 8105 107
193
lia
Central Foundry
6s 1909conv'07...M-S 188
13
Col trsf 5s '51 opt '11 . 3104 4 1054
100
Chicago City Ry stk. 100 157 158
4ia
3ia
Preferred
Coltrsf 5s '51 not opt.. 3104 34 1054
Buffalo City Gas stocklOO
8
9
100
Chic UnionTracSeeSt'ck Exch list
94 10
Deb 6s 1919 op '01M-N
Universal Fire Ext'r. 100
1st 5s 1947 See Stock Exch list
52
55
Cleveland Electr Ry.100
72
a 14
73
Century Realty
Chicago Gas See N Y Stk Exch list
Universal Tobacco.. .100
100 100
Columbus (O) StRy.,100 92 h 934 Cincinnati Gas & EloclOO 100^ 101
4
2
100
Chesebrough Mfg Co 100 420 440
Preferred
Preferred
100 105*2 1064 Consol Gas of N J
UClaftin(H B) 1st pref 100
Westchester & Bronx
90
100
95
Coluni Ry con 6s See Ph Ua list
138
92
Title & Mort Guar Co. 135
1st 5s 1936
90
95
J-J 889
H2d preferred
100
Crosst'wn 1st 5s '33.J-D
105 4 Consumers' L
Westingh Air Brake. .50 1135
UComnion
90
98
& Pow—
100
63
Grand Rapids Ry
74
100
10
Mining.
4
614
Col& Hock Coal&Ipf 100 65
White Knob
5s 1938
J-D 8102 103
80
Preferred
100
86
90
75
Worthing Pump pref.100 113
1st g 5s 1917
90
UDetroit City Gas
50 t 70
J-J 3 85
I Buyer pays accrued interest.
1 Price per share,
a Ex rights. *Ex diVj U Sells on Stock Exchange, but not a very active security.
t Sale price,
Y&NJ
Outside
NY
NY&ER
NY4
Y&N
N
M
ER
l
-
W
M
N
\
ic
W
NY
H&P
N
<
H
'
'
BOSTON STOCK EXOHAN&E-Stock
Share Prices— Not Per Centum Prices
Saturday
April 30
Monday
May
May
May
•/
Range /or Year
STOCKS
BOSTON STOCK
lYiday
Thursday
Wednesday
Tuesday
May 3
2
Weekly and Yearly
Record, Daily,
May
5
0/
lor Previous
Year (1903 J
Week
EXCHANGE
6
Range
1904
the
Highest
Lowest
Shares
Lowest
Itailroiuls
72
72«g
92 4 92 4
248
248 249
142
141 4 1414 141
238
237 237
•iirrV, 168 4 168
168 ^
•165 ....
167
167
*
*
301
301
•1.39" 141
•139 141
•118 119 •118 119
•1^3
•183 ....
•160 168 •160 163
•280 ....
•280
138 4 138 4 13741374
93
33
93
248
79
78
384 40
704 80
•174
20
"73
20
20
7>4
384
73^4
74
188°8 188 34
*228
*
77
•68
•30
•r-9
•65
•84
'
92
165
924
230
206
77
70
77
•68
•30
90
70
84 14
•89
• 66
83
92»8
112
230
205
78
70
166
92
•111
14
71
4 34
236
1684 1684
165
300
300
'139
141
119
183
i"68"
*
138
40
794
1934
20
734 734
7*8
7
188»4 188»4
•223 230
203 34 204
79
78
•69
70
•30
84
....
•91
166
02
112
111
90
70
8434
814
914 914
111
140
•134 14
714 714
4«g
44
134
13
71
169
168
'165
7234
72 «6
724
92
92%
247
246
246
141
1404 140 4 141
234
234
236 230
168 1684 •167 4 1684
'165
167
167
301 •300
3004
1404 1404
•isV" 141
119
119
119
Last Hale 183
Apr'04
Last Sale 26Y/4 Apr'04
247
71»4
4*8
-44
4<4
•18
19
194
184 184 19
41274 126°b1274 12641274
1264 126 4 1204 1264 1264126-4
12641264 1264 126 3,
1264127
•104 104
104 104 104 10 34
•74 ss 74. 34
744 76
744 74<4
127
•2
•2
67
107
4108
4934
4934
294 294
144 1434 *14 34
714 714 724
14
14
71
71
44
44
4-4
44
4 34
•184
19
19
19
19
127
1264128
1273s 128
1264 1264 1264 1264 1264
12641264 126
126 4
•10
74
74\
•104
10 3
74
74»4
«
11
126
•10
74
5578 56
•50
-60
77
80
95
77
•78
•90
104 104
55
-60
•60
77
79
•90
*2
24b
•2
5
5»4
5
484
48*6
•10
104
•19 4 20
••40
-50
-50
•74
•21
100 '4
49 °8 49 •4
294 294
84
2134
80
80
24
2
2
5
5
54
474 484
•10
•40*
104
60
10 4
•4*6" "•So"
211
8
211
8
•100
211
•8
100
60
49 4 50
74
2i34
•74
21
465
462
463
463
-si"
4034
22 4
00 4
111
* •>
•74
44
24
8
44
14
4
i'«
•7
•4
7
•65
•44
•75
•4034
44
414
3
••50
•76
•1
•1234
Bo 4
24
S4
81
1
13a
•8
90
14
13
57
24
2
81
1
l-\
84
00
19
•7
•34-
19 4
•7
*34
•35
403b 40'e
214 22
664 06 4
111
111
•2
ao«s
*93b
93,
33»8
•3
24
7"B
7-V
4
4
•13«
•1
13
•66
23
64
3's
64
71
••50
•75
104
•40
50
50
•1»4
•81
•90
•14
8
94
14
74
66
56 34
23
2
85
1
14
8
94
•3
•6
71
•60
66»4
23 4
•1 34
•81
••90
138
74
90
334
20 4 20 4
•0-4
•1
0H
334
34
84
714
24
734
4
•75
•35
05
•109
211
»
95
3»4
03b
4
33 4
34a 34e
64
714 714
6
-75
78
80
1004
Aug'03
Sep '03
Apr'04
11
1104
50
•134
8
8
'78
95
47
4 48
4
764
47 34
75
w
10
Do
pref
80 Westing El &
Apr'04
Do pref
100
Mfg.. . 50
50
2
5
48
Mar'04
Apr'04
Apr'04
Apr'04
Apr'04
8
Adventure Con
Allouez
Amalgamated
Amer
26
25
s
44
22
66 4
4
4
Y*
7
*4
1 34
44
60
•14
42
•65
5
42
24
50
2
4
•75
14
4
57
13
67 4
•234 24
*134
»81
•90
14
7°8
'90
2
85
1
14
74
95
•34
194 20 4
•94
'>'-.
334
3334
Dredging
Am Zino Lead <fe Sni.
Anaconda
Arcadian
Arnold
Q-old
5
34o 34e
64
72
50 60
71
l
4
2
334 344
•3
6
84
-4
71 a
4
•60
64
713,
•60
3334
3
64
•71
•60
Marl4 754 April
Jan
182
160
276
69 135
875 24
385 73
3334 Utah Con (Gold)
34« Victoria
6 4 Winona
72 Wolverine
Wyandot
190L •Bidandasked.
5
26
25
25
25
•00
»Beforepay'tofaaaes8'tsoaUedlnl903. U Before pay't of assess'ts called in
1|
7
94<4 April
Feb 16
Apr 6 162 4 Jan 4
Jan 25 281 Apr 6
Jan 2 141 Apr 7
4Jan 2 40 May 2
Jan 27 80 May 2
Jan
5 184
l
172 Jan 6
605 I6 34 Feb 25
125 72 Marl4
114
5 Apr 25
160 1884 May 6
1624 Jan 25
222 Jan 29
41 1984 Jan 7
485 75 Feb 16
68 68 Marl7
32 4 Apr 22
Apr26
175
24
Jan 21
54 4 Ang
85 Aug
244 J'ne
134 Aug
230 Aug
161 J'ne
170 J'nt
290 J'ly
133 Sep
110 Nov
184 Nov
160 Jan
270 Aug
131 J'ly
25 Oct
75 Dec
42 Alar
173 4 May
894 Jan
1034 Jan;
262 4 Feb
154 Jan
250 Apr
195
177
305
157
125
Jan
Apr
Alar
Jan
Jan
1964 Mar
170 Mar
286 Feb
143 4 Feb
394 Jan
83 4 Jan
42 Mar
180 Feb
Nov 37 34 Feb
Dec 96 Jan
17
804 Jan 27
75
8=8 Nov 28^ Apr
14 Jan 11
196 Jan 2 tlSS 4 May 225 Jan
163 4 Apr 7 16l4Dec 1734 Mar
232 Apr 21 220 Sep 232 Mar
207 Apr 21 196 Aug 2124 Feb
804 Feb 1 74 JTy 91 May
75 Jan 13 68 Sep 85 Jan
39 Jan 20 30 J'ly 71 Jan
7 J'ly 25 Jan
40 Jan 15 42 Feb 3 75 Jan 84 34 Jan
89 4 Apr 25 92 Jan 26 91 4 Oct 104 4 Jan;
714Marl4 89 4 Apr 4 66 34 Aug 104 4 Jan
83 4 Oct 95 Jan
167 864 Mar 1 94 4 Apr
163 Marl4 168 Apr 21 Z162 Sep 178 Feb,
280 89 Jan 4 93 Marie 87 4 Aug 97 Feb
82 108 Jan 4 113 4 Apr 26 108 Sep 116 Feb
174Feb26 174 Feb 26 15 4 Nov 264 Jan
38 4 J'ly 52 Jan
".45
Jan 7 146 Jan 7 144 Sep 150 Jan
i,5*2"6
1
1,233
124Aprl4 154 Jan 13
5,009
152
1,046
610
973
....
Nov 26
9
Feb
66 4 Nov 864 Feb
3 Sep
7 Mar
6 Mar31
21 Mar31 12 Sep 24 Mar
1224Feb24 1314 Jan 25 1074 Oct 1344 Jan.
122 4 Jan 5 12634 Apr26 116 Aug 1234Deo'
1194 Feb 19 1304 Jan 25 11440ct 169 4 Feb,
634 Oct
144 Feb
9 Feb 19 12<4Jan 6
684 Jan 19 774 Mar30 65 Oct 794 Jam
34Mar28 34 Feb 16, 34J'iy 534 Jan,
1124 Jan 15 1154 Aprlo 115 Oct 127 Jan.
64 Nov 62 4 Jan!
7 34 Feb 29 104 April
54 Oct
834Jan'
54 Jan 23 64 Apr 14
230 Feb 26 240 Jan 16 223 Dec 310 Feb
167 Feb 26 1784 Jan 22 133 Sep 204 Feb
374Marl5 434 Jan 5 30 J'ly 48 34 Feb
463 71 Jan 5
900
34 Feb 4
200 17 Feb27
Jan 23
76
385
100
134
126
683
605 7734 Marl4 824 Jan 5 744 J'ly
25 174 Feb 10 180 Marl2 I6434 Aug
14 Oct
14Apr30 2 Jan 25
205
122 118 Feb 23 127 Apr 16 121 Nov
9 Apr
1 Marl4
4 Jan 28
6
Mar28 15 Marl4
2 10
39 208 Mario 2194 Jan 22 197 J'ly
64 Dec
64 Jan 19 84 Apr 14
85
24 x9934 Mar21 102 Jan 6 99 J'ly
25 J'ne
28 J'ly
2
1,747
95
821
143
28
50
59
959
6,636
850
19
36
6
Jan 16
2 4 Mar29
Feb 8 1104May 6
454Feb26 60 Apr 23
7
65
1,879
CopperlOO 14,337
25
25
25
25
25
8
71*1.
3
Atlantic
25
20"4
214
214 Bingham Con Min<fcS 50
••41
•40
•41
Bonanza (Dev C*)... 10
'462 405
'402
465 Calumet <$> Hoc la
25
Last Sale 05
Ap»'0« Catalpa (Silver)
10
20
193*
203
4
19 4
25
4 Centennial
•7 4
8
b
8 a4 Central Oil
25
•34
•33
•35
33
Cons Mercur Gold... 6
Last Sale ll->4 Apr'04 Continental Zinc
26
43 4 444
424
43% Copper Range Con ColOO
22 4
22
22 4
23 Daly-West
20
66
66
654
65 4 Dominion Coal
100
100
Do pref
Last Salt 24
Apr 04 Elm River
12
•74
26
4 6
8 Franklin
334
4
4
4 Granby Consolidated. 10
•14 l-\
*l<4
1 34 Guanajuato Consol..
6
•64 7
•64
7
Isle Royale (Copper). 26
•4
•4
44
26
44 Mass Consol
•50 •65
•60
•60
26
Mayflower
44
4
4
4 Michigan
26
42 4 4234 4134 42 4 Mohawk
26
3
24
3 Montana Coal & Coke 25
4
•60
••50
•60
•60
Montreal & Boston.. 5
Last Sale 75
May'03 National
25
••75
1
1
26
1
Old Colony
•123* 13
•1234
13 Old Dominion
25
674
574
26
574
674 Osceola
24*4
24
23 4
244 Parrott(Sllv<fc Copp) 10
Last Sale I n8
Apr'04 Phoenix Consol
25
•81
83
82
82 Qutnoy
25
•90
1
26
Khodo Island
14 14
l 3* Santa Fe(Gold€fc Cop) 10
14
734
734
10
7»B Shannon
74
•90
95
90
95 Tamarack
25
Last Sale •75
Deo '03 Tecumseh
25
Last Sale 33
J'ly '03 Tennessee
26
34 4
334
Trinity
25
34
Last Sale
Mar'04 United Copper
100
20
20
20
'4
204 UnltedStatcs Alining 26
•9 4
94
94 Unit States Coal <fcOU 26
94
35
64
88
2424 MarlO 251 Apr 25
253 a;137 Feb 5 142 4 Apr 25
Marll 240 Apr 23
11 230
194 166 Marl6 109 Jan 25
6 166
Apr 10 171 Jan 13
50 -.".to Feb 24 301 Apr23
33 13734 Apr 18 146 Jan 20
13 118 4 Apr 26 124 4 Jan 19
20(1
Jan 28 29 34 Apr 30
Feb 9
8 Jan 23
Jan 16 79 34 Apr 22
77
10 34 Feb 6
40 4 Jan 6
174May
944 Mar
2
5
Apr 29
12^ Jan 2
62 4 Apr 8
68
Jan 6
544 Feb 1
•50 Aprl2 •75
7 34 Apr 14 11
76 Marl4 83
78 Marl4 85
934
Alining
*134
5
5^4
Last Sale
Last Sale
Last Sate
Last Last
Last Sale
664
•60
24
1
10
•50
764
pref
100
100
Button-Hole.. 10
Swift & Co
100
Torrington Class A.. 25
Do pref
26
Union Cop L>d <£> Mg. 26
United Fruit
100
United Shoe Mach... 26
Do pref
25
100
U S Leather
Do pref
100
100
U S Rubber
Do pref
100
U S Steel Corp
100
Do pref
100
West End Land
25
West Telep & Teleg.100
Pullman Co
84 Reece
2 11124
74 8
7
•1
1
1**
-36
4134
22
'12
93g
50
194 20
•7 4
8
14
84
Boston Land
10
Cumberl Telep & Tel 100
Dominion Iron & St
East Boston Land
Edison Elec Ilium... 100
General Eleotrio
100
Mass'chosettsGasCoslOO
Do pref
100
Mergenthaler Lino. .100
Mexican Telephone.. 10
N E Telephone
100
>
467 41674
13
5634
24
2
194 20 4
33
74
2L
214 214
•12 4
4
-50
\h
13
Last Sale
7
40 4 43
•2
*7»8
4
85
21
-35
•64
78
•78
2
2
5 3 ia 53,
a°n
473,
47
10
56 4
84
80
80
••40
1934
•84
84
77
78
90
•60
•60
-60
'8
8
7*
•7
74
•4
4
4
44
••50
••50
•65
65
•4 4
•44 5
5
403
41 '4 41 34
40
4
-2 4
•24 3
3
••50
'76
••50
•75
33 4
71
194
8
•34
204
544 554
21
50
465
-
104 104
554 554
1,217
136
Miscellaneous
Amer Agricul Chem.100
Do pref
100
4«8 Amer Pneu Serv
50
19
Do pref
50
12738 Amer Sugar Kenn
100
1264
Do pref
100
1264 Amer Telep & Teleg.100
11 Amer Woolen
.100
74
Do pref
100
29 4
29 4 29 4
294
Last Sale 7
Apr'04
Last Sale 7934 Apr'04
17 4 17 4
10
50
74
•21
'400
40
22 4
•05
111
4
47
••40
85"
95
94
-41
19 s4
84
a
10
•60
464
•41
L9*4
5534
•77
•77
•90
-50
1
84
29 4
•00
77
79
95
100
pref
Do
211
60
8
••40
•
3
104 104
55 58 56
•60
100
100
15
73
67
104 104
Do
100
100
PlantCom t'st stk comlOO
1004
224 Last Sale
Last Sale 28
•2
Last Sale 24
3
108
1074108
1074 108
1074 108
60
29
Santa FelOO
100
r
1
3
<fe
pref
YN H
144 144
21142114 209 4 2094 •2094211 210
•8
84 •8
84 84 •84 9
•100 100 4 10041003s 1004100 100
•
•
*
22
224
224
4
108 108
49 4 494
29 34 29 a4
Do
Boston <fe Albany
Boston Elevated
Boston* Lowell
Boston & Maine
Boston & ProvldencetOO
Chic Juno By <& US Vioo
140 141
119 119
Do pref
100
Con<fc Mont Class 4.. 100
[83
160 168
Conn & Pass R1t pref 100
Last Sale •281
Apr'04 Connecticut River... 100
280
138
135
138 Fitchburg pref
137 138
100
•394
•394
40
40 Ga By* Electric. ..100
394 394
794 804 Do pref
•794 80
79
80
10O
Mar'03 Houston El'tric com. 100
Last Sale 42
Last Sale 175
Apr'Ol Maine Central
100
20
194
19 Mass EleotrioCos
20
19 4 194
100
72»4
7234 7234
73
724
73
Do pref
100
•6%
•74 84
7
Mexioan Central
100
74 74l
1884 188 34 1884 18834 1884 1884 N
<fc Hart. ...100
Last Sale 2tf34 Apr'04 Northern N H
100
'228 230
Last Sale 232
Apr'04 Norwich & Wor preflOO
204
204 204
Old Colony
100
•784 "80 Peie Marquette
•784
•784 80
100
•69
70
70
694 69 4 69 4
Do pref
100
30
Last Sale 36 A»r'04 Rutland pref
100
Last Sale 15\ Oct '03 Savannah Elec com. .100
Last Sale 49
F*b'04 Seattle Electric
100
•89
Last Sale 89h Ajir'04
90
Do pref
100
65
•65
•65
70
70
70 Terre Haute Eleo....lOO
84 h Union Paciflo
84^ 85 4 85 4 864 84 <4
100
•92
91 914
924
Do pref
100
Last Sale 168
165 ....
Apr'04 Vermont & Mass
100
914 914 914 914 91
914 West End St
50
111
111 112
112
111 112
Do pref
50
Last Sale 2 74 Feb '04 Wisconsin Central. ..100
Last Sale as 4 JTy'03
Do pref
100
Last Sale 145
140
Jan '04 Wore Nash & Roch.,100
301
Last Sale 54
Apr'04
•113 ....
•1144--.
•1134- ... 1134. ...
Last Sale 114\. Apr'04
7
*9
•94 104
•94 104
*94 104
104
94 10
104
8 104
•54
•64 6
•54 6
•54 6
54 54 •54 6
6
236
2394 239 34 238 239
238 238 •236 238
236 238
236
1584 15
16141614 158 1584 158 168 •156 159
158 153
SO 3*
3934 394)
3934
40
40
39 34 3034
40
394 394 40
8034 803,
80
81
804 80 4 804 81
804 804 •80
804
'174 1764
176 175 174 177 •174 177
175 175
1764
'138
134
•1*4
'138
1»4
1*4
l s4
14 14 •14 2
•13a
1214122
1224 122 4122 4 122 4 122 4
12241224 •
1
Atch Top
t
79
•89
•66
'
247
1404 140k
286
'
•160
•280
"46"
72-*4
924 •924 93
247
14141414
84
91<4 91<t
9234
248
247
'
90
70
140
•140
•13
71
734 73*4
•64 74
1884 18834
•228
924
20
724
72\
72
924 93
724 72 s4
Highest
Feb 15
Jan
Jan
237
10
132
26 34
2934
Jan
Feb
Jan
Jan
Jan
5
Apr
Oct
9 Oct
33 J'ly
10 Nov
49 34 Nov
•50
Jan 18
63gApr 6
2
3
Jan
Aug
2 4 Jan.]
139
20
111 Jan
384
53 Jan:
27 Aug 31 4 Feb
Sep 15 4 Feb
7
7134 Oct 954 May
91
Jan 14
Jan 25
Jan 21
Jan 21
Jan 15
3 100
33ie Alar 8
134
884 Feb
Feb
190
184 Feb
574 Jan
394 Feb
894 Jan
Jan •80 Mar
7 4 Nov 28
71 Oct 102
67 Oct 108
80 34 Oct 110
Jan
Feb
Dec
Jan
34 Jan
18
Feb
Jan
84 Mar
754 Mar
14 Feb
1234 Mar
314 Feb
64 Feb
•95
Mar
Feb 8 53 Feb 2 3334 Oct
Mar21
1 Maris •50 Feb
6 Jan
8 Feb 23 114 Apr 6
15aaFeb24 19 4 Jan 12 15<4J'ly
•25
Feb 2
Jan 23 •75 Sep
1
•25
Jan 13 •25 Jan 13 •26 Apr
3
Oct 144 Feb
7
7 Febll
8 4 Jan 20
385
260 19 Mar 2 234 Jan 21 20 Dec 39 4 Feb
700 •40 Feb 3 •50 Mar23 •40 Dec •90 Mar
9 435 Jan 4 470 Apr 9 400 J 'iy 551 Mar
•05
Apr 23 •05 Apr23 •08 Feb •10 Feb
4,646 d 14 4 Feb 8 224 Apr 8 12 J'ly 314 Feb
534 Sep
834 May 6
7 Jan 5
94 J'ly:
250
4,400 •3a Apr 22 •75 Jan 5 •35 Nov 1 27 32 Jan'
74Apr 5 124 Apr 9 10 4 Sep 16 Mar
12,886 38 Feb 28 47 4 Jan 2 37 J'ly 75 Feb
20
4 Apr 16 36 Jan 2 31 Nov 484 May
2,985
125 6 134 Mar 6 72 Jan 2 594 Oct 1314 Jan
20 107 Mar31 113 Jan 22 106 Oct 1184 Feb
Oct
2
5
Alar
Feb 5
2
2 4 Jan 5
7 J'ly 14 Feb
74 Marl 5 9-i-laii 9
25
2«8 Maris
44 Apr 29 3»4 J 'iy 54 Apr
16,671
3 Jan
2 Apr 8 •50 Dec
760 •624 Feb 15
7 Jan 4
64 J'ly 174 Feb
9 4 Jan 25
170
J'ly
3
18
Feb
3 Feb 26
20
44 Jan 18
2 4 Jau
50 •50 Marl4 •37 4 J an 22 •50 Dec
4.4 Dec
11 4 Feb
4 May 5
616
6 4 J an 5
740 34 4 Feb 8 44 4 Apr 8 31 J'ly 58 Feb
Nov
2
8 Mar
2 4 Jan 19
4 Jan 21
100
2 58 Jau
60 •50 Feb 18 •82 Apr 18 •55 Nov
May 14 Jan
•76
100 •75 Apr 18
14 Apr 28 •50 J'ne 2 4 Feb
Oct 23 4Foto
5
9 4 Feb 9
Apr 2
100
Feb
53
8
624
Jin 6 434-*'ly 79 Fofr
331
1,065 2034 Feb 1 29 4 Feb 2 16 J'ly 34 Feb
1 4 Mar 8
24 Dec 7 4 Feb
3 Jan 25
93 80 Feb 25 100 Jan 5 80 Oct 126 4 Feb
Nov 4 Feb
•75
•85
At.
u-22
14 Apr 8
5
3 Jan
l4Apr80 2 4 Jan 2o
1 J'ly
720
7 Deo 144 Apr
74 Jan 6 9 4 Jan 18
3,440
12 90 Mar 14 120 Jan 19 75 J'ly 190 Feb
1»ib Feb
43
•75
1
1
'i
173^
865
3 34
6
1,740
398
18
Mar25
5 4 Jan 5
MarlO 6 Mar 19
Jan 4 22 Jan 20
84J"n
i
30 Jan 2
455 oJ24Jan 2
Feb 23
610 5
51 69 Jan 6
315 •50 8*6)123
2,863
New stook.
10 4 J an 20
354 Jan
18
4 Apr 22
4 Jan
75 Mar
14 Jan
7
6
Jan
44 J'ly
4 Dec
I64 J'ly
Deo
Jan
li„ Dec
8
22
5
3334
Mar
14 Feb
31 34 Jan
27 4 Feb
17 Mar
33 "s May
4 J'ly
9 Feb
tl434 Mar
77 Mar
24 Mar
9
61
J'ly
4
•75
Oct
tAss'tpaiu. *Ex-rights. aEx-div. & right*
V
5
May
Am Bell Telephone 4s 1908
Am Telep Tel coll tr 48.1929
.
Consol 5s
Boston & Lowell 4s
Boston <fe Maine 44s
M-S
A-O
Nov
.MS
1924 M-S
Nebraska Exten 4s
Illinois
t
1()034 Sale
91
914
87
Feb'04
110
101
Feb'04
99% Jan
117
112
101
99 4 Apr
100 J'ne'01
123 Feb'04
117 l4Feb'03
80 Apr'04
100 Apr'04
107 Jan '04
1 00 14 Feb'04
104 Apr'04
100 Apr'04
80
F-A
128
117
113
102
994
128
78
81
99 VI 00
L064 1064
104
104 '4
99 4 100
984 Mar'04
92
01
105
96
J-J
A-O
105 Apr'04
97 Ayr '04
124 34 125
123 ia Apr '04
100
100
,
98
124V
J-J
J-J
123
100
V
,
1U634
984
10
92
105%106»4
984
4
97
12434 125
123 41244
100 101 4
105410634
106*4
10534
,
98 4
92 4
90' 8
1094 Mar'02
1124 Jan '03
101
95
M-S
M-S
M-S
Fiichburg 4s
M-S
4s
FrenitElk&MoVl6t68..1933 A-O
Unstamped lst 6s
1933 A-O
Gt Nor C B & Q coll tr 4s 1921 J-J
103
104
.
97
137""
1S7 4 Apr'04
137 Feb'04
pn
1921 Q-J
92
137
22
9!
4 Apr'04
Philadelphia and Baltimore Stock
7234
7234
723b
724
91
724 724
•4334
19 4
*4
7
•6%
7
444
204
444
443t,
19 78
*S
20
%
7» 18
7
4
8
13
32
8
12
224
223 le
40
32
60
834
3
4
4
4
8
74
134
32
60
84
5 s*
7
8
94 94
184 184
*6 34
....
'44
19%
444
1934
4
4
•34
%
4
7 7e
13
8 1 ie
SHo
"10
8
S8
5 7 ie
7
e
539
134
18
13
21 7 le 22
•39
39 4
*304 31
4934 49 34
84
84
PHILADELPHIA
39
5 7 i«
39
54
134
Amer
Iron
&
Steel
Bell Telephone
Cambria Iron
*19% 19%
3
4
»18
*34
4
*8
13
84
e
4934
84
84
Ask
49% 49 4
84
84
39
218 18 2113 la
*39
30
49 78
84
40
30 34
49 4
84
PHILADELPHIA
7«fe
50
50
7»4
AmRy8Conv68 1911.J-D
51
46
72
•90
91
Atl City lst 5s g '19. M-N
Balls Ter lst 5s 1926. J-D
Railways.... 50
1934 Cambria Steel
50
7
7 Consol Lake Superior.. 100
8
«
*3
4
100
Do pref
8
She Electrio Co of America 10
*12
12 4 Gen Asphalt interim otfs..
32
32
Do pref interim ctfs..
744 744 Lehigh Coal & Nav
50
374 894 Lehigh Valley
50
4
4
3
4 MarsdenCo
57
674 Pennsylvania RR
*38»8 33 7a Philadelp'a Co (Pittsb)
54 5% Philadelphia Eleotric.
*134 13 34 Phila Rapid Transit ...
21^21i3 16 Reading
39
Do lst pref
39»i 6
Do 2d pref
307, 3113
49 7a 49 7e Union Tracton
84
84 United Gaa Impt
*18
22 WelsbachCo
Bid
E & A lst M 5s
114 7s 1154
1004 101
109
93
67 4
134
teyntoneWatchCase.loo
jit Brothers
10
Mttle Sohuylklll
50
lnehill & Schuyl H..50
eaquehoning
50
99
100
104 11
24
Steel.
111
& Peo Tr stk tr otfs 984 988,
Elm & Wil lst 6s '10. J-J 10934
Eq II Gas-L lst g 6s 1928 1084
H & B Top con 5s '25 A-O 106
Indianapolis Ry 4s. 1933
814 83
Elec
Interstate Rys—
3-3 4-48 1943
F-A
Lehigh Nav 44s '14 .Q-J
RRs 4s g
1914. Q-F
Pennsylvania.. 50
Penn Gaa Coal
50
?ennsylvanla Salt
50
Pennsylvania Steel. .100
Preferred
100
fhlla Co (Pitta) pref.. .50
hil G erman & Norria. 50
Phila Traction
50
Bailway8 General
10
8usquen Iron A Steel. .5
Tidewater Steel
10
Preferred
10
Dniteti N J RR & c. 100
Unit Pow & Trans
25
United Trac Pitts
50
Preferred
50
Warwick Iron & Steel. 10
West Jersey & Sea Sh.50
4934
107
108
102 4
10734
109 4 10934
111
112
GenM 44sg.1924.Q-F
Leh V C lst 5s g '33.. J-J
Leh V ext 4s lst 1948. J-D
2d 7s 1910
M-S 116 34
50
Phil Elec gold trust <A'a
Trust certif s 4s
P
<&
E
gen
M5g
'20. A-O
People's Tr
Westmoreland Coal...5o
PColst<fi;Coltr5.s'49
;
no sales on this day.
||
Lowest
is
M-S
latest bid
103 4 104 4
10834 109 4
ex-dividend.
19
1,620
4,556
1
128
97
108
92
81
I
16
104
107
Tl
,
70 4
75
J'ue'OI!
104
94
102
102
Mar'02
74
94
10241044
10141024
101%
101
112 May'01
100 4 Oct '02
120412034
1204 Mar'04
Oct '02
102 Mar'02
92 Apr'04
102 4 102 4
107 Feb '03
92
100
102 % Apr'04
100% 103
94% Mar'04
92
102 4
94%
94
1104 62 10041104
7 14 Dec '03
1084
10234 10234
10541054
10134 101 34
9841004
112% 112%
U Trust Co.
ctfs.
Weekly, Yearly
Mange for Tear
1904
Range tor Previous
Year (1903)
Highest
Lowest
Highest
Lowest
68 4 Dec 72 4 Jan
84 4 Oct 118 Jan
284 Jan
10 34 Dec
20
8
Jaa
144 Jan
Oct
Oct
434 Jan 18 45 Jan 30
183s Jan 6 214 Jan 23
4 Jan 12 l»i 8 Febll
45
54 Jan 26
Feb 8
10 Jan 6
650 30 Jan 11
958 624 Jan 14
3,014 33 34 Feb 26
8 88 Jan 20
1,431
7 34
134 Feb 8
38 4 Feb S
77 Apr 26
394 May 6
2 78 Mar 3 44a Jan 25
55 7e Marl2 614 Jan 27
38 Mar 3 43 Jan 22
6 4 May 4 6»i 8 Janl3
8 Jan 6 154 Jan 21
194Marl4 24 Jan 25
38 Mar 1 40 5 i 8 Jan27
20^ Feb 19 33i 18 Apn4
45 a4 Jan 2 60 Apr 2
824 Feb 24 89 34 Ja* 22
1
174 Nov 26 a4 Jan
4 Nov 9<*i 6 Jan
SgDec 4034 Jan
74 8 Oct 104 Jan
10 Dec 11 Deo
Nov 36 J'ly
Aug 7934 Feb
344 Nov 45 78 Jan
19
64
14 Sep 4 Jan
553gNov 78 34 Jan
35 Oct 47 34 Feb
9 Jan
5 Aug
7 34 Dec 17 78 Jan
18 34 Nov 841
'"ia Jan
36 Sep 441i4 6 Feb
27 34 Nov 40 4 Jan
40 78 Sep 47 34 Feb
76 Oct 116 Jan
•
20
Ask
1094 10034
6634
66 7s
114 4
BALTIMORE
Inactive Stocks
Atlanta & Charlotte.. 100
Atlan Coast Line RR 100
Atlan CoastL (Conn)lOO
Canton Co
100
Georgia Sou& Fla...l00
let pref
100
2d pref
100
G-B-S Brewing
100
Mt Vernon Cot Duck
Unit Elec L & P pref.60
Chas Ry G <fe El 5s '99 M-S
A
Chart C &
ext 5s.'09 J-J
1910 A-O
2d 7s
City & Sub lst 5s.. '22 J-D
Bid
Ask
80
115
112
S3
116
11334 1144
100
11734
112
112 4 113
City& Sub(Was)lst5s'48
98
Col&Grnvl8t 68.1916 J-J 117
Consol Gas 6s.. .1910 J-D 111
1939 J-D
5s
Ga & Ala 1 st con 5s '45 J-J 1044 104%
108 34 1094
Georgia P lst 6s ... '22 J-J 1224 123
108
1034
1004 102
113
112
103 4
V Mar
Aug 31
BALTIMORE
Bid
52 4 Jan
40 34 Dec
GaSo<fe Fla lst 5s 1945J-J
G-B-S Brew 3-4s 1951M-S
2d income 5s 1951 M-N
97 4 98
113
KnoxvTrac lst 5s '28A-0
664 67 4 LakeR El 1st guos'42M-S
MetSt(Wash)l8t5s'2j5FA
Mt Ver Cot Duck 1st 6s
Incomes
155
107 107 4 NptN&OPl8t5s'38M.N
Oe»e7al 5s.. ..1941 M-S
220 230
Norfolk St lst 5s '44. .J-J
80
95
North Cent 4 4s 1925 A-O
40
45
J-J
6s 1904
93
95
Series A 5s 1926.. ..J-J
60
66
...J-J
Series
B
5s
1926.
4
44
Un Trac 5s 1997. J-J
24 24 Pitt
28
29 4 Poto Val lst 5s 1941.. J-J
Sec AvT(Pitts) 5s '34 J-D
Sav Fla & West 5s '34 A-O
Seaboard A L 4s 1950 A-O
100
99
1094 10934 Seab & Roan 5s 1926. J-J
9434 96
South Bound lst 5s.. A-O
1124 1124 UE1 L&P lst 448'29 M-N
35
Un Ry & El lst 4s '49 M-S
90
J-D
Income 4s 1949
105 4 108
Va Mid lst 6a 1906. .M-S
117 118
2d series 6s 1911. ..M-S
108 1084
3d series 6s 1916. .M-S
110
4th ser 3-4-5s 1921. M-S
112
5th series 5s 1926. M-S
111
114
117
1174 Va (State) 3s new '32. J-J
$15 paid.
102
102
102
102
Rochester Ry con 5s 1930
S R E Side 4s interim ctfs
U Trac Ind gen 6s'19.J.J
U Trao Pit gen 5s '97 J-J
Welsbach s f 5s 1930. J-D
t
74
974
94
Jan '04
Apr'04
103 Apr'04
1064 Mar'03
10134 Apr'04
101%Apr'04
105
164
18
7%Apr'04
1224 GaCar&Nlst5sg'29J-J
Ex-rights.
10S4
1014 10134
1204 122
Terminal 5s g 1941. Q-F
Ext<fc Jinp 58.1932 M-S
1st ba '23 J-J
128
100
110
118
95
85 4
104
7 11'
102 J'ne'03
114 3 0ct .,)3
65 4
65 4
13 Mar'04
14 Jan 19
395
1,019
1,889
M7s 1911
J-D 120
ConM 6s g 1911. ...J-D 1134
Ex Imp M 4s g '47. A-O 103%
ConM of '82 4s '37. J-J 1024
Chas City Ry
96
944 97
101% 101%
1204 Apr'04
and asked.
Daily,
Gen M 4s g 1920.. A&O 103
Ph & Read 2d 5a '33.A-0 123
fc
tr certs 4s '43
'04
Kin Mar'04
109 4 1094
11734 117 '4
93 4
93 4
81
81
104 Mar'04
107 Apr'04
100
Consoles 1923
J-D 122
Annuity Gs
J-D 140
Leh V Trac lst 4s '29. J-D
Nat Asphalt 6s recta..
Bonds
604 New Con Gas 5s 1948 J-D 1084 1084 Anacoatla & Pot 5s
76
80
Newark Pass con os 1930
Atl<fc Ch lst 7... 1907 J-J
444 44% NY Ph<& No lst 4s '39 J-J 102 103
Atlan C L RB4sl952M-S
150 154
Atl Coast L(Ct)ctfs 5s J-D
Income 4s 1939. ..M-N
91
95 7 96
No Penn lst 4s '36. .M-N 110
Ctfs of indebt 4s
J-J
Deben 6s 1905
Bait C Pass lst 5s '11 M-N
M-S
Penn gen 6s r 1910..Var 113
Bait Fundg 5s. 1916 M-N
Consol 6s c 1905. ..Var 103%
Exchange 84s 1930 J-J
24
Consol 5s r 1919. ..Var
Refunding 3 4s 1952J-J
2634 265
Penn & Md Steel con 6s. 110
Balt&Pl8t6sml'llA-0
Pa & N Y Can 7s '06. J-D 107 109
Bait Trac 1st 5s.. '29 M-N
Con 6s 1939
A-O 111
No Bait Div 5s 1942 J-D
49
49 4
Con 4s 1939
Convertible 5s. '00 M-N
A-O
98
34
Penn Steel lst 5s '17 M-N 1004
Cent'lRycou5sl932 M-N
(forth
96
874 J'ly '01
11 2% Apr'04
P W&Bcoltr4s'21.J-J 1024 10234
5s 1932
M-N
99
Con
1st 5s. '33
1920
Jan
164 574 Jan 5 73«BAprl3
874 Jan 18 92 Apr 12
50
84 Feb 25 10 34 Jan 2
60 1534 Jan 16 21 34 Jan 2
100
6% Feb 24 83s Jan 26
100 1,085
50 7,033
784
50
25 5,649
118
50
50 16,918
129
50
400
50
50 4,063
PHILADELPHIA
Ask
D Can lst 5s '16 J-J
Choc&Melst5sl949J-J 109 110
Ch Ok & G gen 5s '19 J-J 1074
Ry lst con
•">'.,
Philadelphia
444 American
Che<fe
Con Trac of N J
t
Week
19 3
3
;
the
•Shares
100
50
*94 934 Seaboard Air Line
100
'18
Do pref
100
184
•64 7 United Ry & Electric. 50
Bethle Steel 6s 1998. Q-F
Col St
of
Baltimore
Consolidated Gas
Northern Central
Berg&EBrw lst 6s'21 J-J 1044
State Steel...
Preferred
Saaton Con Eleotric... 50
leo Storage Batt
100
Preferred
100
©ermantown Pass
50
Barrison Bros pref. ..100
100
IndianapoUs St
nter Sm Pow <fe Chem.50
keystone Telephone ..50
Preferred
50
Bid and asked prices
Al Val E ext 7s 1910 A-O
Friday
Sales
Stocks see below)
Bonds
10
50
No price
(For Bonds and Inactive
'71
44
44
54 54
134 134
4934
Diamond
*
e
5 8 ie
2138
39 4
31
Bid
Central Coal & Coke. 100
Preferred
100
Consol Trac Pitta
50
Preferred
50
Danville Bessemer. ..14
H Haven Iron &
67
39
Inactive Stocks
American Cement
'64
3S 7
1334
1334
2134 21Hi8 21 78
39 4 39» 16 399 16
-30
3034
31
"
Exchanges— Stock Record,
May6
72
91
44
Boston Bonds.
L28
Low High
A,
'in
J
102 J4 Apr'04
105 4 106 4
10234 Apr '03
10134 Apr'04
99 4 99
99 4
934 Wisconsin Cent lst gen 4sl949 J-J
00% 934 Wisconsin Valley let 7s.. 1909 J-J
FYiday
May 5
124
18
324 323e
*74 4 744
75% 76
744 75
374 374 37
37 4
363s 37
34 34
68i3
68% 59
*57
57 7 ia
16 59
884 384
5 Tn
13
*39> 4
•81
194 19
58«i8 53^18
39
6 7 i8
6»4
444
*44
754 76
36
36%
684 69
13
6*4
%
4
i
5
10 „
80
82
76
76
•36 34 37
89
*174 18 34
RR&
ACTIVE STOCKS
Thursday
72
72
91
72
PI
*
"184 194
•
Wednesday
May 4
Tuesday
May 3
.
90
Share Prices—Not Per Centum Prices
May 2
1934 M-S
1934 M-S
Kan C & M Rv <fe Br 1st 581929 A-O I0334
lst
.1907
J-J 107
7s.
KanCStJo&CB
L R & Ft Sm Id gr lst 7s.. .1905 J-J 101 %
Maine Cent cons lst 7s. ..1912 A-O
1912 A-O
cons lst 4s
Mara Hough & Ont lst 6s. 1925 A-O
cons
4s.
.1911
J-J
664
U ixican Central
Jan 1939 J'ly
lstcons inc3s
Jan 1939 j
2d cons inc 3s
Mich Telep cons 5s tr rec.1929 j'!j
Minne Gen Elec con g 5s 1929 j-j 100
New Eng Cot Yarn 58 1929 F-A 94 Sale
190G A-O
New EngTeleph Gs
1907 A-O
Gs
1908 A-O
6s
1915 A-O
5s
1905 J-J 101 %
N
Eng lst 7s
1905 J-J 1014.
lst 6s
1924 F-A
Old Colony gold 4s
Oreg Ry <fc Nav con g 4s. .1946 J-D
1922 F-A
Oreg Sh Line lst g 6s
Renub Valley lst a f 6s... 1919 J-J
1941
gen
44s.
Rutland lst con
Rutland-Canadian lst 4sl949
Savannah Klec lst cone 5s. 1 952
91
93
1930 F-A 1024
Seattle Elec lst g 5s
1918 M-S
Torrlngton lst g 5a
lgr g 4s. 1947 J-J
Union Pao
1911 M-N
1st lien conv 4a
U nitcd Fruit conv gen 5s 1 9 1 M-S 1104 Sale
US Steel Corp 10-60 yr 58.1963 M-N
West End Street Ry 4s.. ..1915 F-A
1914 M-S
Gold 44a
1916 M-N
Gold debenture 4s
1917 F-A
1374
Gold 4s
137
Western Teleph & Tel 58.1932 J-J
Note— Buyer pays acorued Interest In addition to the purchase price for all
Monday
9S4 99
109 4 Sale
118
93
81
83
10441048s,
102 4103
1114May'02
93 4 Sale
944
127 4
.since
January 1
J I (iih
Jan
A-O
A-O
A-O
.
1054109
1044
102 4 Apr'04
137
137
97
95
Mar'04
104%
.
10041014
Apr'04
101
97
108
.
Ask Low
Y&N
1064 Dec '02
M-N
6
Be
CM & B gen 4s
Assented inoome 5s
Range
Week's
flange or
Last Sale
J-J
Kan
110
99
'04
May
KanCFtS&Gulf lst7s..l!H>,s J-l)
1928 M-N
Kan C Ft Scott & M 6s
914
'02
Mar'03
1124 Jan '03
112 4 Apr'04
101 Apr'04
1913
1906
1915
1927
Registerod4s
97%10O3,
100^4
117
& No Mich lst gu 5s. 1931 M-N
& W Mich gen 5s.. ..1921 J-D
Concord & Mont cons 4s. .1920 J-D
Conn & Pass K lst g 4s. ..1943 A-O
Current River lst 5s
1927 A-O
Det Gr Rap& W lst48...194G A-O
Eiistern lst gold 6s
75
JTice
J-riiiaii
ma
1910
deben 5s
Non-convert deben 5s. ..1913
la Falls* Sioux C lst 7s. .1917
Kan C Clin* Spr lst 58... 1925
Illinois Steel
B6»4
914
J-J
Chic
Chic
Dominion Coal lst Gs
98 34
884 94
F-A
M-N
F-A
A-O
A-O
M-N
M
Low High
71
1044 Apr '00
J-l)
Joint bonds See Gt Northern
& Stk Yds 5a .1915
refunding g 4sl940
Ch JU1 & St P Dub I) 8s.. 1920
Oh <fe St P Wis V div 6sl920
I/O
9$ 76
99*8
110
A-0
M-N
Cliic Jo Ry
Coll trust
High
J-l)
J-J
J-J
J-J
19-.
S-6 January 1
91%
U34Feb'03
1921 M-S
191'.' J-J
4s
Divans
Saturday
April 30
im
BONDS
boston stock exch'ge
Week ending May 6
Jlange
Since
or
Last Sale
Ask Low
Bid
98 Sale
97 4
9178 Sale
90
'.•'.»:")
1907
1944
1905
Improvement 4s
Boat & Mon 3d issue 7s... 1904
Boston Terminal lst 34s. 1947
1918
Bur <fc Mo Riv ex 6s
1918
Non-exempt 0s
1910
Sinking fund 4s
1917
Butte <fc Boston 1st Gs
Cedar Rap 6c Mo li 1st 78.191(5
2d 7s
...1909
Cent Vermt ist"g4s!.Mayl920
Chic Burl & Q extend 4s.l905
1919
Iowa Div 1st 5s
1919
Iowa Div Lst 4s
1913
Debenture 5s
1922
Denver Exten 4s
Range
May 6
Nebraska Iat7s..l908
Atcli Top & S Fe gen g 4a. 1
J'ly 1995
Adjustment g 4«
Boston Elect Light 1st Us. 1908
<*>
Week's
Price
Friday
j-j
j-j
<fe
B& S\V s
1
Boston Bond Record.
1904.]
7,
BONDS
BOSTON STOCK EXCH'SE
Week ending mat 6
54
Atch
4
Fund debt 2-3s 1991. J-J
West N C con 6s 1914 J-J
WesVa C&P lst 6g'll J-J
Wil
&
Weld 5s. .1935. J-J
1154
484 48\
114
18
101
117
19
1174 117%
694 60
13
15
100
86
106 108
109
100 4 i02*"
117
117
1114
110
115
115
6334
110
106
73
116
69
Lb'f"
75
904 90%
49 4 49%
104
112
105
1124
112
109
110 111
93 4
94% 94 14
110
111
117
116 4
112
118
ui
.
..
.
..
.
..
.
THE CHRONICLE.
1776
|Vol. LXXVriL
and Railroad %uUlliQmtz.
RAILROAD GROSS EARNINGS.
Itxttjestment
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.
The returns of the street railivays are brought together separately on a subsequent page.
July
Latest Gross Eartiiut/s
ROADS
Current
Week
or
Month
Year
1st
1st
P. 1st
30,000
20,000
21,000
wkApr
wkApr
wkApr
Vtoksb ah it
Allegheny Valley February..
Dec.
54,691
4thwk Apr
5,529,512
Atoh Top & S Pe. March
Ann Arbor
Atlanta & Char.
Atl Knoxv & No
Atlantic <fc Btr. a
Atl Coast Line..
Bait A Ann SL.
Bait* Ohio
Bangor & Aroosi
Belief on te Cent')
Bridgt
& Saoo K
Butt Rooh& Pitts
1-i ii Halo &Susq..
Canadian North
Canadian Paoiik
Centl of Georgia
Cent'l of
Central
305,450
63,100
March
61,147
*aroh
1,980,746
March
12,910
February
5,483,811
March
170,156
February..
4,984
Marou
2,974
February..
4thwk Apr 178,403
72,908
March
72,100
4tuwk Apr
lthwk Apr 1,239,000
4th wk Apr 189,825
1,698,380
March.
February..
N J ersoy
PaclUc January
Chattan South'n.
Chefcap&Ohio...
Ohio* Alton By.
Chic Gt Western.
Ohio Did &L'v...
Chic Mfrw & St F
Chic & North
U
..
$
55,138
$
56,433
Ala Gt Southern 3d wk Apr
Ala N O <6 Texas- Pacific.
NO&NoEast.
Ala* Vicksb'K
Previous
Year
1,460.659
3,013
lthwk Apr
1.657,820
March.
.
1
to Latest
Current
Year
2,495,747
Date
W
.
2,164,319
41,000 1,913,426 1,754,641
883,345
20,000 1,028,920
980,002
21,000 1.140,105
Inc. 335,669
5,019
60.612 1,618,852 1,669,773
5,257,313 52,095,971 47,158,544
248,051 2,374,403 2,107,131
519,905
543,415
62,500
1,949,521 15,198,978 14,469,658
78,111
108.530
6,947
5.410,350 48,944,986 46,386,641
1,127,114
129,333 1,311,857
51,948
48,588
7,544
34,109
30,178
3,333
183.485 6,187,075 6,092,885
746,765
722,441
85,728
60.700 2,551.100 1,799,550
1,168,000 37,907,130 35,901,799
197,289 8,073,486 7,861,498
1,655,331 15,931,457 13,672,109
1,349,578 13,775,430 12,847,305
3,3il
93,055
100,849
1,603,709 14,299,907 12,085,059
874,008 8,843,584 7,683,423
198,793 6,981,208 0,400,544
136,276 4,382,065 4,101,723
3,995,770 37,300,066 30,063,242
4,449.370 41,079,906 37,003,841
990,626 9,022,391 9,288,823
43,824 1,308,442 1.450,877
116,011 5,373,437 4,723.559
1,371,470 13,903,359 13,180,007
2 19,207 2,008,323 1,870,047
131,309 4,765.473 4,942,130
160,469
120,118
16,707
345,375
238.594
27,91b
56,232
66,356
7,114
13,756
162,089
158,434
842,194
125,193 1,291,195
H&E
VARIOUS
ROADS
Gross Earnings
Allegheny Valley
Jan.
Atlanta &Oliarl Air Line. Mar.
Atlantic
Birmingham
ct
Bellefonte Central
Chicago
Chic St
<fe
to Feb. 29
to Feb. •J-.)
a Dec. 1 to Mar. .(1
Jan. 1 to Mar. 31
North West. If... June
P Minn & Omaha..
1
1
Mar. :;i
to Mar. 31
1 to
Jan. 1
Cumberland Valley
Jan. 1 to Jan. :;i
International ct (it North'n Jan. 1 to Apr. 30
Lake Erie & Western
Jan. 1 to Mar. 31
Manistee
North Eastern Jan. 1 to Feb. 29
Manistique
Jan.
to Mar. :;i
A
Maryland &
1
Pennsylvania Mar.
Missouri Pacific
Central Branch
Total
(Mexican Central
Mexican International
t
Jan.
Jan.
Jan.
Jan.
Jan.
...
Mar. 31
to Apr. 30
to Apr. .,o
1 to
1
1
I
1
1
to Apr.
to Mar.
30
to Feb.
2'.)
:ti
]
ROADS
Previous
Year
960,599
181,977
132,003
4,038.778
March.
4,350,831
Maroh
870,924
ChloStPM <feO. Mar oh
40,310
Ohio Term TrRB 4thwk Apr
Ctn N O & T Pae 3d wk Apr 115,902
CI Cin Oh <k St L February.. 1.464,808
Peoria <& East's February.. 233,240
96,459
Colorado & South 3d wk Apr
23,040
Col Newb <fc Lau. February..
27,535
Copper Range.... February..
5,345
Cornwall...
March.
15,341
Cornwall «k Leb February..
Cumberl'd Valley January... 149,750
Dcnv. * Bio Gr. /
373,700 421,400 13,707,369 14,480,039
Rio Gr. West, s 4thwk Apr
75,866 103,247
717,147
692,645
Det <S> Maokinao. Maroh
28,089
38.277 1,304,606 1,280,336
Detroit Southern. 4thwk Apr
53,583
72,136 2,114,437 2,254,735
Dal So Sh & Atl. 4th wk Apr
3,621,33-3 3,965.950 33,423,235 33,068,009
Erie
March
44,936
Evansv<fc TH.. 4thwk Api
47,139 1,485,129 1,445.527
F'rchlid&N'r'e'n Maroh
3,313
3,651
20,742
30,506
Fannv <fc Powhai February..
5,001
5,871
52,080
51,050
FtW&DenvCity February.. 170,021 157,460 1,844,009 1,749,263
229,497 21»,664 1,919,271 1,805,449
Georgia liR
March
144,187 159,691 1,297,907 1,223.218
Ga South & Fla.. March
29,078
GilaValG<St N.. January ..
30,920
235,533
179,385
Gr Trunk System 3d wkjApr 641,576 633,815 27,305,467 20,677,156
GrTr. West'ii 3dwk Apr 102,318 104,333 4,324,189 4,013,006
Det«r H&M.. 3d wk Apr
17,743
19,573 1,013,897
994,485
Groat Northern.. April
2,647,901 2.910,014 32,877,501 33,171,739
225,071 180,996 1,919,710 1,748,685
Montana Oent'l April
Total system. April
2,873,572 3,091,010 34,897,211 34,920,424
Gulf*3hlplsland 3d wk Apr
33,743
35,180 1,488,782 1,373,931
Hocking Valley.. 4thwk Apr
85,748 120,483 4,826,414 4,788,290
Hous «fc Tex Cent January
418,280 460.339 3,461,608 3,358,251
W. Texas. January ..
69,903
81,363
519,271
555,001
Hens & Shrevep't January ..
16,514
19,041
124,142
144,551
Illinois Central.. Maroh
3,985,184 3,958,657 35,376,493 33,258,788
Illinois Southern March
29,026
18-1,100
11,695
113,696
Ind 111 & Iowa... March
149.761 160,517 1,187,842 1,320,293
Int <fc Gt North' 4tnwk Apr
116,764 147,271 4,930,335 4.687,267
JInteroo<Mex)... WkApr 10.
119,900 103,790 4,562,880 4,118,230
Iowa Central
44,510
lthwk Apr
54,231 1,997,279 2,049,216
Kanawha &. Mich lthwk Apr
39,201
38,949 1,373,058
976,156
Kan City South'n larch
550,646 486,695 4,945,111 4,590,976
LakeErie&Weatn March
387,745 400,801 3,859,750 3,590,561
Lehigh Val RR.. March.
2,694,426 2,803,080 21,980,351 18.74S.507
Loxntg «fe East'n. Maroh
42,105
50,768
474,388
404,630
Long l«land
Dec. 6,102
March.
Inc. 305 ,855
Louisiana & Ark. February..
65,291
38,105
436,699
331,448
Loutsv Hen&Bt L December.
458,489
411,597
Loulsv & Nashv. 4thwk Apr 883,220 890;22& 31,140,170 29,366,005
Macon & Birin... Maroh
10,498
13,006
Man'tee&Gr.Ka, February..
4,071
13,179
56,132
94,466
March...
4thwk Apr
4th wk Apr
Latest Gross Earnings
Manis
No
<fe
3,435,902
232,708
15,002
45,376,635
2,564,140
149.750
1,595,130
1,098,250
70,147
16,032
22.571
13,381,786
560.000
13.941,786
0.097,337
1,176,165
Current
Year
i
Mexican litem.
iMexloan Ry
{Mexican South'n
X
Mtllen»!fcSo'w'n..
Mineral Range..
A
Minneap
M St P &
StL.
8 St M.
Mo Kan
TexatMo Pac & Iron Mi
<te
Central Branch
Total
Mob Jack &
Mobile
K
C.
Ohio...
&
NaahCh&StL..
{Nat'lRBof Mex
Ne v-Cal-Oregon
Ne vada Central
N Y C & Hud Rlv
.
N YOnt& West.
N Y Susq & West
Norfolk & West'n
Northern Central
North'n Pacific.
Nor Shore iCal)
Ohio Rlv& West..
Pacific Coast Co.
.
ePenn— EastP&E
eWestP&E....
Pere Marquette w
PhilaBalt&W'sh
&
Phlla
Erie
C O & St L
Raleigh & C Fear
Plfctsb
Reading Railway
Coal&lrOo....
Total Both Cos.
Rioh Fr>ksb & P
Rio Grande Jet..
Rio Grande So...
.
Rocklsl'dCo
Jos&Gr I
StL&SanFranp
St L Southwest
St
.
StL Van&TH..
SanPran&NP..
Seaboard Air L.
Southern Ind
So Pacific Co 6...
Central Pacific
Gal Har & S A.
Gal
Hous-<to
No
GulfWT&P..
Louis'a West...
Morgan's
& Calif.
So-Pac Coast....
SoPao KKCo..
So PaeSS.Lines
Tex&NOrl
Southern Rallw'y
Torre
Ind...
TerreH«fcPeor..
HA
Texas Central .
Texas A Pacific.
.
TexS
V&NW
Tol
Ohio Cent
<fc
P West
TolStLA W
Tol
<fc
..
....
Ham A Buft.
..
Virginia & So Wh
Tor
Un Pac System
Wabash
W Jersey
<fc
v
1
to
Current
Vear
Jxitest
Date
Previous
Year
$
$
267.430
27,006
33,879
231,219
56.332
05.072
3.484
2,470
Maroh
25,177
229.304
22,571
218,848
March
2,444,961 2,163,191 14,909,011 12,944,982
March
February.. 593,542 590,574 4,547,438 4,667,414
Wk Apr 16 123,500 105,700 4,470,000 4,215,000
883,219
17.135
771,477
25,989
2d wk Apr
.38,801
33,250
6,183
4,360
February..
482,534
458,907
16,074
14,385
4thwk Apr
52,760
74,543 2.413,324 2,780,921
lthwk Apr
4thwk Apr 110,996 148,347 5,849,956 5,985,001
3d wk Apr 272,782 340,555 14,680,645 14,219,470
4thwk Apr 1,247,000 1,431,000 35,392,070 33,049,827
39,000
39,000 1,522,000 1,040,100
4thwk Apr
4tawk Apr 1,286.000 1,470,000 36,914.070 34.095,927
0.763
326,624
8,102
200,199
Wk Apr 16
4thwk Apr 245,944 307.267 6,491,945 6.432.00O
250,406
8,469,504
7.848,459
4thwk Apr 250,485
4th wk Apr 304,232 290,929 9,511,594 8,510,318
140,905
142,838
10,903
12,753
March.....
22,062
719
26,345
2,266
February..
6,460,258 6,646,920 58,440,872 57,602,005
March
534,261 557,227 4,905,310 4,357,911
March
227,380 275,577 1,910,608 1,S14,181
March
2,054,565 1,915,995 16,901,825 15,333.153
March.
"68,210 869,210 7,455,279 6,807,979
March.....
March
3,463.715 3,517,657 36,043,100 35,638.131
389,649
345,070
30,321
33,284
February..
138,956
127.830
14,684
12,751
February..
456.715 424,113 4,345,797 4,117,024
Maroh
9,024,404 10138604 88,914,820 87,178,720
Maroh
inc. 1.&9 7,200
Dec. 3 7,300
Maroh.....
4ttiwk Apr 304,099 280,003 9,387,723 9,134.707
Marco..... 1,047,307 1,090,407 9,974,701 9,608,701
498,687 462,034 5.121,050 4,414,769
February..
2,009,971 2,108,936 18,353,875 17,362,y48
Maroh
37,992
4,707
March
Maroh
2,962,818 3,105,731 25,714,637 22,831,596
2,279,386 1.698,041 24,427,120 14,284.913
Maroh
5,242,204 4,803,772 50,141,807 37,116.509
March
890,725
110,625 101,414
786.344
February.
411,367
389.464
36,709
February..
36,758
374,691
455,955
3(1 wk Apr
8,220
9,441
3,595.090 3,680,485 35,462,311 34,757,683
March
926,436
936,838
110,901 127,109
February.
2,980,257 2,693.261 27,610,407 24,114.054
March
4th wk Apr 159,704 177,198 6,533,138 6,216,997
218,221 211,846 1,807,993 1.774,650
March.
961,958
79,141
84,893 1,010,405
Maroh
3d wk Apr 263,432 247.511 10,815, 94710 ,281,893
980,196
637,628
110,200
87,114
Maroh
7,223,841 6,881,510 70,927,070 65,785,506
March.
January... 1,460,659 1,349,578 13,775,430 12,847,305
January... 580,534 593.810 4,221,191 4,014.019
99,724
807,199
696,201
January...
77,226
106,623
10,300
12.547
96,570
January...
161,517 101,821 1,144,280 1,163,165
January.
January .. 417,904 473,030 2,990,794 3,013,301
292,660
288,262
January ..
30,084
36,645
January... 312,659 288.974 2,576,550 2,344,219
681,749
565,161
70,159
65,523
January...
January .. 2,619,233 2,503,802 19.658,844 17,932,714
3,405,692
January...
453,189
302,477 287,550 2,253,290 1,917 ,719
January...
4th wk Apr 1,066,77 01 ,092,499 38,066,617 35,576 "56
March...—
172,812 166,458 1,580,875 1,414 ,563
445 ,578
482,500
Maroh
52,411
49,272
640.187
506 ,557
3d wk Apr
10,416
8,463
thwk Apr 277,993 323,529 10,406,651 9,914 ,652
121,284
118 .100
Maroh
13,000
9,000
4th wk Apr
68.298
99,015 2.973,470 2,697 178
4thwk Apr
27,468
38,408 1,094,074 1,023 ,701
*thwk Apr
81.909
74,471 2,738.823 2,653 089
379 ,208
475,424
1st wk Apr
15,397
11,547
Maroh
4,027,994 4,030,671 41,951,065 37,553 647
443 ,169
467.559
Maroh
54.417
44,676
lthwk Apr 568,588 566,161 19,106.457 17,50'. ,243
March
289,910 283,910 3,246,970 3,009 .870
lthwk Apr 127,918 111.013 3,044,921 3,432 .772
125 ,197
February..
113,547
11,694
14.653
4thwk Apr 158,000 183,104 5,385,801 5,455 370
143 ,991
140,645
March
19.805
15,266
March
651,025 523.704 6,150,683 5,574 062
.
L&T
N YT&Mex..
Oregon
Previous
Year
.
East February..
Manietique
Maryl'd & Penu..
tMexioan Cent'l.
Sea'e
Wheel & L E
Wm'sport&N.Br.
Wisconsin Cent..
Wrightsv&T'n..
Yazoo & Miss. V.
FISCAL. YlCAItS.
ROADS
Current Year Previous Year
Decrease.
Week
or iiontlx.
In
$42,615
3.047,261
[Mexican Railway
[Mexican Southern
RR of
Mexico...
Central
North Shore
cPeunsy., East of P & E...
[National
18,676
41,004,209
2,786.502
125,193
1,709,627
1,129,988
69,859
11,769
25.177
13,376,083
422,000
13,798,083
6,115,839
1,234,967
Gross Earnings
N orthcrn
eWestof PA-E
Pere Marquette
Phila Baltimore
tr
& Wash..
Philadelphia & Erie
1'itls Cm Chic & St Ixmis..
Bio Grande Junction
H
L Vandalia & Torre
Terre Haute & iudianap
IV ire Haute & Peoria
St
Texas
&
.
.
Pacitio
West Jersey
& Seashore.
.
Jan.
Apr.
Jan.
Jau.
Mar.
Jan.
Jan.
Jan.
Jan.
Jan.
Jau.
Dec.
Nov.
Nov.
Nov.
Jan.
Jan.
1 to Apr.
1 to Apr.
1 to Apr.
1 to M»r.
1 to Feb.
1 to Mar.
1 to Mar.
1 to Apr.
1 to Mar.
1 to Feb.
1 to Mar.
1 to Feb.
1 to Mar.
1 to Mar.
1 to Mar.
1 to Apr.
1 to Mar.
Current Year ^Previous Year
$1,801,700
45,079
3.914,457,
2,135,225
632,652
26,443,702
Decrease.
31
29
31
29
31
31
31
30
31
3,338,505
2,948,763
947,866
5.034,899
134,676
993,163
826,662
256,297
3,897,992
711,264
$1,655,200
38,945
3,534,391
2,443,725
538,435
27,935,302
83.00O
3,473,954
3,063,263
1,009,996
5,6*2,606
124,830
970,418
775.504
240,506
3,890.122
693,764
t Results on Monterey <&> Mexican Gulf aro Included from Maroh
IMexloan currency.
1, 1902.
U Includes trans-Missouri lines,
since Feb. 16, 1903, inakinx length of road on which earnings are now reported 7,357, against 5.876 miles previously. 6 Includes the Hous. ds
Tex. Cent, and its subsid. lines in both years and for both periods.
Chicago & Eastern
e Covers lines directly ooerated.
</ Includes the
Illinois in both years.
w Int Including Sav. Flor. <fe West, and also Florida Southern and Sanfdrd & St. Petersburg Rys. in both
years.
cludes Lake Krie & L>et. Riv. Ry. from Jan. 1 both years.
* Approximate for June.
a These figures are for the consolidated oompany,
lnoluding Tifton Thoav.
Gulf and Tifton & Nortaeaaterr
I
j
&
.
May
7,
.
—
m
.
THE CHRONICLE.
1904. j
Latest Wross Earnings by Weeks.— In the table which
we sum up separately the earnings for the fourth
we^k of April.
The table oovers 36 roads and shows
5 '44 per cent deorease In the aggregate from the same week
J
,
follows
Roads.
Northern Central bMar.
4th week of April.
1904.
1
8,868,442
9,378,683
Nashville..
883.220
Minn. * St. Louis
Minn. St. P. A S. Ste. M
Mo. Pacific AlronMt...
16,074
52.760
110,996
1,247,000
39,000
Canadian Northern
Canadian Pad no
Chattanooga Southern...
Ohio. Great WeBtern
A
Ohio. Ind'plls
Loulsv..
Chicago Term. Transfer.
Dsnver A Rio Grande *
Detroit Southerm
Dolnth So. Shore A Atl..
Evans. A Terre Haute...
A Gt.No..
International
,
24\944
Nash v. Chat. A St. ix>ula.
National KB. Of Mexico.
LodIb Southwestern
Southern Railway
St.
.
Toledo A Ohio Central..
Toledo Peoria A We*t'n
Toledo St. L. A Weat
Wheeling
A Lake Erie...
Net deorease
*
(5*44 p.
BB.
Tear.
Tear.
$
$
768,210
9
">
••
11.400
71.000
7,464
t
298
16.816
4,213
3.514
47,700
10.189
18,553
2,203
34,735
80,507
9,721
252
7,009
1,689
,,, mmm
.
21.783
37,351
184,000
61,323
79
13,803
24,096
••>»•*•«
17,434
25,723
45.531
80.717
5,940
7,438
2,427
16,905
__ -
,
—m
25,104
148,589
Includes Lake Erie
658,830
510,241
A Detroit
In both years.
For the month of April 37 roads show as follows:
Month of
April.
1904.
1903.
9
$
Decrease.
Per Cent.
9
3-84
Gross earnings (37 roads) 39,800,581 40,870.559 1,569,978
that
is
loss
on
the
roads
reporting
in
will
seen
there
a
It
be
the amount of $1,569,978, or 3*84 per cent.
Net Earnings Monthly to Latest Dates.—The table follow •
ing shows the gross and net earnings of Steam railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
onoe a month in these columns, and the latest statement of
this kind will be found In the Chronicle of Apr. S3,
1904.
Tha a est will appear in the issue of May 21, 1904.
— Gross Earnings. —
Roads.
Ann Arbor. b
Current
Previous
Tear.
Tear.
$
$
Net Earnings.
Current
Previous
Tear.
Tear
$
<
$
144,650
197,507
34,529
80,543
451,413
Jury 1 to Mar. 31.... 1,469,063 1,494,441
514,369
Atl'ta A Char. A.LaFeb.
105,082
305,450
248,051
77,145
July 1 to Feb. i9.... 2,374,403 2,107,131
861,655
731,778
uAtlant. Coast La. Mar. 1,980,746 1,949,521
849,531
865,856
July lto Mar. 31
15,198,978 14,469,658 5,761,539 5,048,027
Canadian Northern. Mar.
52,300
201,900
174,700
59,600
July 1 to Mar. 81
2,816,800 1,601,850
785,200
554,910
Chicago A Alton. a-Mar.
960,599
874,008
808,834
282,349
July 1 to Mar. 31.... 8,843,584 7,683,423 2,919,068 2,484,504
Ohio. Qt. West'n.b.Mar.
719,665
677,566
168,839
209.526
July 1 to Mar. 31.... 6.377,438 5,842,692 1,634,813 1,656,614
Ohio. M. A St. P. a. Mar. 4,088,778 3,995,770 1,595.074 1,478.252
July 1 to Mar. 31.... 87,306,066 36,063,242 13,759,621 13,158,394
138,774
Ohio. Ter.Transf.b. Jan.
112,504
14,381
56,688
334,875
419,917
955,438 1,016,122
July lto Jan. 31....
459,391
d58,911
Oolor'do ASonth.b.Mar.
398,903
d64,152
July 1 to Mar. Si.._ 4,487,967 4,588,277;dl,168,910 dl,041,350
Cornwall. a.
866
1,958
Mar.
5,345
7,114
July 1 to Mar. 31
56,232
66,856
16,059 def.39,102
403,926
524,895
H Den.ARlo G'de-b.Mar. 1,182,986 1,352,985
July 1 to Mar. 81... 12,478,069 13,145,289 4,756,976 5,236,892
Dul. So. Sh.AAtl.b.Mar.
226,358
87,795
50,617
190,508
742,364
July 1 to Mar. 81.... 1,928,158 2,039,545
588,715
PalrohlldAN. East. Mar.
395
2,106
3,651
8,313
July 1 to Mar. 31
9,237
80,506
6,710
26,742
Georgia BB.a...
68,006
Mar.
78,901
229,497
218,664
636,806
July 1 to Mar 3i.__. 1,919,271 1,805,449
595,077
Kan. City South. a. Mar.
105,143
550,646
150,684
486,695
July 1 to Mar. 3i.... 4,945,111 4,590.976 1,392,068 1.236,255
Longlslandb
Mar.
Deo.
Deo. 68,710
6,102
July 1 to Mar. 31....
Ino. 305.855
Deo. 348,209
Louis v. A Nashv.b.Mar. 3.246,607 3,084,874 1,141,036 1,037,573
July 1 to Mar. 31. ...28,282,051 26,411,385 9,255,734 8,806,20(1
605,211
721,955
c Mexican Cent. e.. Mar. 2,444,961 2,163,191
Jam. 1 to Mar. 31
6,697,387 6,115,839 1,684,369 1,557,955
Mineral Bange.b... Mar.
11,607
49,324
6,417
48,696
66,984
July 1 to Mar. 31
433,837
41,211
413,007
M.Bt.P.AB. 8 M.b.Mar.
278,493
468,817
168,491
562,735
July lto Mar. 81.... 5,377,676 5,452,013 2,580,199 2,733,257
208,762
Nash. Ch.&Sti.b-.Mar.
900,550
211,197
852,641
July 1 to Mar. 81.... 7,665,032 7,064,354 2,021,781 2,026,509
Mar.
\'ear.
*
57,396
156,008
869,210
3,443,725
.
Tear.
$
192 496
479^08
LlneBdlreotlyoperated
5,921
5,082
•• •••
Net Earnings.
Current
Previous
JEAstof Pltts.AE.Mar.
ft
•** -»
,
Pennsylvania—
Decrease.
o.)
Includes Rio Grande Western.
Blv.
Increase.
250,485
804,233
304,099
159,764
1.086,776
277.998
68.298
27,469
81.909
568.588
127.918
158,000
Kanawha A Michigan...
* Pittsb'g
Buffalo Booh.
1903.
I
60.612
183,48
60.700
1,168,000
197.28S
3,811
198,798
136,276
43.824
421,400
88.277
72.136
47,139
120,483
147,271
54,231
38.949
890.22P
14,385
74,543
148,347
1,431.000
39,000
307.267
250,40e
290,929
280,003
177,198
1,092,499
323,529
99.015
33,408
74.471
566,161
111,013
188,104
54,691
178,403
72,100
1,239.000
189.825
3,013
181.977
132,063
40.310
873,700
28.089
53.583
44,936
85.748
116,764
44,510
89,201
A
,
Jan. 1 to Mar. 31.... 2,185,225
last year.
LonlBvllle
Gross Earnings. —
—Current
Previous
777
New London Northernb—
Jan. 1 to Mar. 31....
221,145
23,962 def.28,267
234,434
July lto Mar. 81....
23,816
755,672
736,634
88,305
NorfolkA West'n.a Mar. 2,054,565 1,915,995
759,242
784,070
July 1 to Mar. 31.... 16,901,825 15,333,153 6,346,703 6,068,170
9,624,404 10,138,604 2,030,419 2,704,019
jjan. 1 to Mar. 31. ..26,443,702 27,936,302 4,485,515 6,385,515
Deo. 87,800
Westof Pitts. AE.Mar.
Deo. 431,000
Deo. 83,000
Jan. lto Mar. 31....
Deo. 1,023,700
Phll.Balt.AWash.bMar. 1,047,307 1,090,407
190,118
251,718
374,314
Jan. 1 to Mar. 31.... 2,948,763 3,063,263
638,514
Pooahontas Coll 1 e r 1 e
Company
...Mar
23,208
.+.
74,662
36,473
RloGrande8ooth.bMar.
38,194
15,701
17,235
348,980
429,244
148,244
July 1 to Mar. 81.
187,884
850,636 1,383,281
Bock Island Co.a. ..Mar. 3,595,696 3,680.485
July 1 to Mar. 31. ...35,462,311 34,757,688 10,206,142 13,068,319
Jan. 1 to Mar. 31
St. L.
A San Kr. (Inolud.
A E. IlMa.. Mar.
2,986.257 2,693,261
947,363
827,518
July 1 to Mar. 31. ...27,610,407 24,114,054 9,080,008 8,516,456
593,637
572,398
St.LonlsS'west.b. Mar.
102,827
182,930
July 1 to Mar. 31.... 6,014,028 5,603,162 1,911,775 1,556,967
376,113
Seaboard Air Line aMar. 1,282,667 1,197,333
367,850
July 1 to Mar. 31.... 9,979,015 9.469,533 2,523,617 2,550,448
South Buffalo Rv. b—
52,246
41,288 def.2,415
2,780
Jan. 1 to Mar. 31....
156,438
136,596
31,818
July 1 to Mar. 81....
49,720
18outh. Pao. Co.a.. Mar. 7,228,841 6,881,516 1,548,355 1,318,814
Jul? 1 to Mar. 3 1.... 70,937,070 65,785,508 21,626,150 19,339,931
Ohio.
Southern Railway Syst.—
Southern Ball w aMar. 4.054,980 3,815,915
34,568,304 32,028,391
July 1 to Mar. 31.
729,020
Mobile <fe Ohio. a.. Mar.
647,399
July 1 to Mar. 31.... 5,895.707 5,706,915
672,401
526,399
Cln. N.O.AT. P.a.Mar.
July lto Mar. 31.... 5,030,264 4,384,179
260,373
232,853
Ala. Gt. South a.. Mar.
Jury 1 to Mar. 31.... 2,335,872 2,009,915
144,187
159,691
Ga.8outh.AFla.aMar.
July 1 to Mar. 31.... 1,297,907 1,223,218
805,428
266,480
T ol. St. L. <fe West. .Mar.
Union PacSyst.a... Mar. 4,027,994 4,030,671
July 1 to Mar. 31. ...41,951,065 37,563,647
283,910
W.JerseyASeash.bMar.
289,910
711,264
693,764
Jan. 1 to Mar. 31....
1,075,417
9,843,950
173,430
1,926,478
149,249
1,173,495
55,073
506.074
36,188
336,463
108,878
1,699.649
19,202,110
37,018
12,206
927,340
8,873.105
270,921
1,977,050
133,272
1,095,304
59,115
504,065
41,210
327,253
67,052
1,627,695
17,036.894
44,718
88,106
a Net earnings hereglven are after deducting taxes.
b Net earnings hereglven are before deducting taxes.
c These figures are In Mexican ourrenoy, and are convertible into
gold at the current rate of exchange.
d Net. after deduotlng taxes" Is $45,275 and $40,853 for 1904
and 1903 respectively for March, and from Julv 1 to March 31 net
Is $977,184 this year against $878,832 previous year.
e Results on Monterey A Mexican Gulf included from March 1, 1902
and Cuernavaoa A Paoirlo, Rio Yerde Branch, etc., since Jan. 1, 1903'
I Houston A Texas Central and its subsidiary lines are inoluded
both for the month and for the period from July 1.
j These figures Include results on the Buffalo A Allegheny Valley
Division in both years.
u Inoludlng earnings of Savannah Florida Western In both years
and also Florida Southern and Sanford A St. Petersburg Ry. in both
A
years.
U Includes Rio Grande Western for both years.
Interest Charges and Surplna*— The following roads, in
addition to their gross and net earnings given in the foregoing, also report charges for interest, 6tc, with the surplus
above or deficit below those charges,
,
Roads.
Ann Arbor
Mar.
jDon. AR.Grande..Mar.
July 1 to Mar. 31 ...
Dul. Bo. Sh. A Atl... Mar.
July lto Mar. 31....
Georgia BR
Mar.
July 1 to Mar. 31....
Mar.
Mineral Range
July lto Mar. 81....
Sashv. Chat.ASt.L.Mar.
July 1 to Mar. 31....
Int.,
Rentals,
etc.
— ^—Bal. of Net Earn'gs.—.
.
Current
Previous
Current
Previous
Tear.
Tear.
Tear.
Tear.
$
$
$
$
«3,701
31,547
26,888
53,709
331,232
332,864
t75,918
t200,033
2,999,016 2,952,808 1 1,958,920 t3, 143,822
88,641
88,641 *df.37,218
*def.284
797,775
794,775 *df.200906 *df.46,568
*26,078
a52,823
a50,000
*18,006
*266,612
a467,293 a458,277 '197,635
9,446
*2.169
9,696 *def.2,919
85,409
87,770 *dl.43,599 *df.l8,844
149,581
151,448
61,616
57.814
1,347,083 1,358,267
674,748
667.242
New London Northern63,105
Jan. 1 to Mar. 31....
188,703
July 1 to Mar. 31....
Norfolk A Wenfn.... Mar.
281,224
July 1 to Mar. 31.... 2,041,628
64,054 *df.32,414 *df.86.406
191,828 *df.81,345 Mf 149900
216.224
552,846
543,018
1,916,864 4,305,075 4,151,306
'
Pooahontas Collieries
Company
Mar.
Jam. 1 to Mar. 31....
dl4,645
d43,441
17,833
Bio Grande South.. Mar.
162,574
July 1 to Mar. 31....
South Buffalo Ry.—
2,324
Jan. 1 to Mar. 31....
12,013
July lto Mar. 31....
1 Southern Pao.8ys.Mar. §2.462,520
July lto Mar. 31. ...5 24260280
59,225
Tol. St. L. A West.. Mar.
8,563
31.221
19,033 "def.2,130 Mef.1,773
"31,523
163,377 *def.8,106
465 Mef.4,705
*19,369
*df.848.151
*df.2052314
*50,280
58,396
1,065
*2,335
*48,770
*10,583
After allowing for other inoome received.
These ngures are after allowing for other Income and for discount
and exohange. The sum of $10,000 Is deduoted every month from
surplus and plaoed to credit of Renewal Fund.
t inomdes Rio Grande Western for both years.
a Charges here include road- rental (paid by lessees) and other
*
t
deductions.
d Charges
include sinking fund and preferred dividend.
& Texas Central and Its subsidiary lines are inoluded
both for the month and for the period from July l.
appropriated for betterments
5 These figures lnolude $880,796
and additions to properties and equipment in March, and $10,576,051 during period from July 1 to Mar. 31.
1
Houston
—
—
.
..
.
.
...
..
THE CHRONICLE.
1778
STREET RAILWAYS AND TRACTION COMPANIES.
Latest Gross
GKO88
Our'nt
EARNINGS.
Week or Ho Tear.
. .
A
Chic.
Ry
Jan. 1
April
Blnghamton 8t. Ry. Maroh
Boston Woroester.. February
Burllngt'n (Vt.)Trao. Maroh
Oal. Gas <fc Eleotrio.. Maroh
Maroh
Cent. Penn. Tract
Chicago A Mil. Eleo. Maroh
Cln. Davton & Tol.Tr. March
Oin.Newp. & Coving.
.
<fe
to
Latest Dale
Current Previous
Prev'us
Tear
Tear.
Tear.
100,204 94,829
Light & Traotion... Maroh.
Light
Citizens' Ry.
7,235
7,171
(Musoatlne, Iowa).. Maroh
Cleveland Electric. . February.. 317,399 328,088
35,975
400,201
66,838
49,659
31,341
14,748
879,226
112,286
59,873
95,855
34,881
368,263
294,001
275,304
23,712
649,490
89,167
38,383
21,«40
688,717
83,729
38,039
A
Cleve.A So.W.Tr.Co.. Maroh
Cleve. Pains v. <fe E... Maroh
Dan. Urb. <fe Champ.. February..
14,592
107.902
36,035
101,381
Honolulu Rapid Tr.
27,164
11,166
U26.468
76.519
15,003
Illinois Traction Co.. Maroh. ...
Indlanap. <feK»st. Ry. Maroh....
Indlanap.Shel byville
A Southeastern Tr. February.
u53,905
60,129
26,387
59.386
42,341
24,387
78,039
25.596
21,342
13,2*7
23,337
51,251
9,562
5,790
.
11,953
Internat'l Tract. Oo.
System
(Buffalo)...
Jacksonville Eleo.Co.
Kansas City Ry.& U.
Lftke Shore Eleo. Ry
Lake Street Elev.c ..
Lehigh Traotion
Lihlgh Val. Trao. Co.
Street Ry. Dep
Electrlo Light Dep.
315,022 295,916 896,340
Maroh.
February. 21,101 17,302
321,668
Maroh
v3,200,719
Maroh
41,772 42,309 110,902
April......
69,125 69,678 265,692
March.....
10,673
30,160
9,781
52,278 60,636
13,783 12,711
23,369 21,081
11,937 11,634
6,889
6,278
182,886 176,395
255,670 236,488
29,261 27,892
184,858 171,902
12,654
OhloTr. & Lt. Oo.
Northern Texas Trao.
Northwestern Elev..
Oakland Trans. Cons
Olean St. Railway...
.Nor.
Maroh.
Maroh
April
January
March
Orange Oo. Traotion. Maroh
Oreg. Wat. Po. A Ry. January
Peeks. L't'g ABB. Co. March
Philadelphia Oo.and
Affiliated Carper's. April..
Pottsv. Union Tract. Maroh.
..
..
1, 298,707
..
1,265,846
13.987 13,13?
20,162 21,209
1,866
1.922
117,249 100,436
Bys Co.Gen.— Roads. Maroh.
Light Oo'B
Rochester Railway
859,473
109.089
268,002
28,254
Maroh.
March.
Belolt A
Janesvllle
February
St. Joseph (Mo.) Ry.
Lt.HeatA Pow.Oo. Maroh.
b
.
8,055
.
Sao Paulo (Brazil)
Tram. L't & Po. Oo. Maroh.
Savannah Elect. Co. February
Previous
Year.
Tear.
Tear.
$
$
$
$
Brooklyn H'ghts RR..b—
911,596
1 to Mar. 31.... 3,009,762
2,821,248
833,391
July 1 to Mar. 31
9,968,163 8,998,690 3,898,045 3,426,733
Bklyn Queens Co. & S.b —
195,745
75.538
85,447
Jan. 1 to Mar. 31
205,849
628,250
283,235
625,371
308,635
July 1 to Mar. 31
California Gas & Eleotrio Corp.— See detailed statement below.
Uln.Newp. A Cov. Light
100,^01
94,829
39,573
38,534
A Traotlon.a
Mar.
117,110
294,001
275,304
109,828
Jan. 1 to Mar. 31...
108,969
Kan. Olty B f.& Lt.aMar.
321,668
1,217,679
June 1 to Mar. 31.... 3,200,719
8,222
2,901
3.129
7,794
PeeksKlll Lt.&RR.aMar.
22,888
7,900
7,140
24,192
Jan. 1 to Mar. 31
Interest unarges
and Surplus.— The following Street
railways, in addition to their gross and net earnings given in
the foregoing, also report charges for interest, &c, with the
s irplus or deficit above or below those oharges.
-Bal. o/Xel Earrtgs.s
Int., Rentals, etc.
Current
Current
Previous
Previous
—
,
Tear.
Tear.
Tear.
Tear.
$
$
$
$
Roads.
Brooklyn HeightsJan. 1 to Mar. 31.... 1,149,354
July lto Mar. 31.... 3,516,007
Bklyn Queens Co. & 8.—
Jan. 1 to Mar. 31....
July lto Mar. 31....
Cln. Newp. A Cov. Light
& Traotion
Mar.
Jan. 1 to Mar. 31....
*
1,060,890 df.197907 •df.188990
*422,714
*489,308
3.190,268
99,290 *df.23,708 *df.l3,600
"26.285
'13,045
285,231
99,816
298,517
21,433
63,414
20,917
63,283
18,656
53.827
17.101
46,414
After allowing for other inoome received.
& Electric Corporation.
34,382
18,226
700,932
698,070
61,319
486,845
1904
1903
17,291
10,520
18,025
11,288
176,097
90,39 L
422,764
80,171
17.248
18,094
13,422
22,888
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the Railway and Industrial and Street Railway
15,879
9.092
11,805
11,973
178,600
117,215
441,505
94.611
80,990
18,657
23,002
24,192
Corp.
Expenses, int.
March—
Cross.
on bonds of SurSub. Co s,dc. plus.
$329,247
213,272
$237,255
156,907
$91,992
66,365
Annual Reports.
—The following
American Can
American School Furniture
Appleton D.
&
1546
1647
Co. (balance sheet
67,265
6,099
298,011
14,987
16,265
Standard Underground Cable ....1548
Utah Fuel (bal. sheet Dec. 31). ...1648
30,048
30,048
368,354
78,341
116,080
361,556
647,457
Sinking
fund. Balance.
$36,458 $12,500 $43,034
16,121
28,744
12,500
interest.
is
an index
to all
annual
Sections.
This index does not inclade reports in to-day's Chronicle.
Railroads, Etc.—
1'age
Street Railways.—
Page.
64,961
5,884
339,677
5,499,212 5,285,392
bond
ANNUAL REPORTS.
1648
1B4B
Bush Terminal (half-year)
1647
Ones. & Potomac Telephone
1546
Chicago Edison
Commonwealth Elec of Chicago.. 1546
1647
Eleotrio Co. of America
General Electric
1648, 1651
1547
Northern California Power
Pleasant Val. Coal (bal. Bh.Dec.31).1548
28,811
127,000 110,817
38,607 35,298
.
32,662
20,753
719,668
753,484
86,998
537,251
10,296
6;sranton Railway... February.
58,830 52,412
Seattle Eleotrio Co... February
171,743 155,164
South Side Elevated. April
137,250 131,329
Springfield (111.) By..
ALightOo
February.. 46.713 42,045
Bpringfl'd & Xenla Tr. Wk.May 1
927
1,038
Feb.
1,
1W04)
Brooklyn Rapid Transit (application to N. Y. Stock Exch.)
1119
Capital Traction (Wash., D.C.).... 1219
Chicago City Ry
816
Havana Electric Ry
1494
Indiana Union Traction
...1275
Metrop. West Side El. Ry., Chic. 1494
St. Louis Transit
1494
United Rys. & Elec. Bait
810. 1388
United Rys. of St. Louis (balance
sheet Dec. 31)
1495
Washington Railway
W. India
& Electric,.. 1496
Elec. Co.. Kingston, Jam.1279
Michigan Central Railroad.
(Report for the year ending Dec.
31, 1903.
report, signed by Chairman Chauncey M. Depew and
President H. B. Ledyard, says ia substance:
Bonds.— Daring the year $2,000,000 Michigan Central first mortgage bonds were Issued, the proceeds being used for oonstruoclon expenditures. On May 1, 1903, $150,000 Michigan Central-Detroit A
Bay Olty first mortgage 5s were issued to pay $150,000 Detroit A Bay
City 8s due May 1, 1903. During the year the trustees of the land
grant fund of the Jackson Lansing & Saginaw RR, O >. purchased and
canceled $100,000 of the Michigan Oentral-Jaokson Lansing A Saginaw first mortgage 3^8.
Construction.— This aooount has been Increased $2,007,859, of
whloh $1,967,859 on aooount of the f olio w/ng current expenditures:
Diversions of track, main line
$266,347
Ou aoot. of oonstruot'n seoond traok, Marshall to Kalamazoo. 316,928
On aooount of new shops, Jaokson
121,834
Land at Ohioago
272,988
1,050 new coal oars
980,262
Oarrent construction expenditures as above, $1,958,000, and balance of oonstruotlon expenditures of 1902, $648,000; total, $2,606,000, have been provided for In part by the prooeeds from the sale of
the $2,000,000 Michigan Central first mortgage bonds, leaving a balance to be provided for out of the prooeeds from the sale of additional bonds of 9606,000.
Earnings.—The gross earnings show an inorease of $3,507,000, the
freight traffic an lnorease in tons moved one mile of 492,687,775 and
an Increase in earnings of $2,882,103. The rate per ton per mile
shows a deorease in oents from 0*676 to 0*658, or O'0 18, The passenger traffic shows an inorease of 10,271,499 In passengers moved one
mile and an Inorease of $375,632 In earnings. The rate per passenger
per mile shows an Inorease In cents from 2 091 to 2*159, or 0068,
the gross operating expenses and taxes showing an Inorease of $3,-
The
312,723
78,820
111,017
329.230
530,847
98,926
85,720
14,059
13,424
63,927 68,994
131,048 124.824
Tampa Eleotrio Co. February.. 26.613 22,473
51,600
45,052
Terre Haute Eleo.Co. February . 40,308 31.620
81,496
65,155
Tol.Bowl.Gr.&So.Tr. Maroh
19,308 22,434
58,309
61,237
Toledo Bys. A Light. Maroh
138.665 127.012
400,220 367,654
Toledo A Western.... April
17,986 12,756
60,071
Toronto Ball way .... WkApr 30 42,282 37,028 715,669 6'29,906
Twin City Rap. Tran. 3d wk Apr. 76,900 71,373 1,221,512 1,134,976
Union Trao. of Ind.. January .. 88,000 75.181
88,000
75,131
Union (N. Bedford).. January .. 25.616 26,211
25,615
26,211
United of San Fran.. March
534,041 497,917 1,643,357 1,415,934
Va. Pass. A Pow. Sys.
Va. Pass. A Pow.Oo February.. 58,741
113,464
Bloh. Pass. & Pow. February.. 34,867
68,189
Richmond Tract. .. February
21,273
44,716
Wash. Alex. A Mt. V. Deoember. 18,963 16,776 230,858 217,660
Went. Ohio By
/ anuary .
14,154
dl42,874
Youngstown-Sharon Maroh
87,619
110,630
Syraouse Rap.Tr.Ry. February
.
|
Spanish silver.
These are results for properties owned.
c Beeulte for main line.
d These totals are from July 1.
n These earnings Include the Detroit United By., Detroit A Port
Huron Shore Line and the Sandwloh Windsor A Amherstburg By.
u Doorcase due to boyoott by colored patrons.
v.Theee figures are for period from June 1 to Mar. 31.
t
Current
Tear,
Roads.
51,115 42,695
645,482 568,731 1,778,838 1,573,263
Louis Transit... Maroh.
San Bernardino Val.
Tract. Oo
March....
Ban Fran. Oakland A
San Jose
January
,
164,844
40,995
Rookford
7,524
.
147,594
44,018
36,501
5,745
5,609
2,718
2,996
3.626
3,991
4,120
3,994
62,110 61,609
44,251 34.643
111,326 107,010
94.511 80,171
7,365
6,370
6,818
6,668
23,002 13,422
7,794
8,222
.
—
Previous
California Gas
Maroh
Maroh
Lexington Ry
March
London St. By. (Can.) March
Mad. (Wis.) Traotion. March
Met. West Side Elev.. April
Mil. Eleo Ry.ALt.Oo Maroh
Mil. Lt. Heat ATr.Oo. Maroh
Montreal Street Ry.. Maroh
Munole Hartford A
Ft. Wayne
March
M ask. Tr.& Light. Oo.
Street Ry Depart
Maroh
Eleotrio Light Dep. Maroh
GaB Department... Maroh
Sew London 8t. Ry.. Maroh
.
—Current
,
Jan.
48,763
33,860 31,546
14.958 14.359
55,208 40,803
"6.745
"7,476
6,745
7,476
Dart.&W'portSt.Ry. January ..
Detroit United Ry..n 4thwk Apr 101,360 96,128 1,261,080 1,242,899
Dolnth Street Ry .. ithwk Apr 15,185 14,982 186,803 182,583
97,033 78,015
East St. Loais A Sab. Maroh
l62,368
96,ioi
34.543 32,824
Elgin Aurora <fe 8ou. March
57,765 50,112
Maroh
Grand Rapids Ry
Havana Eleo. Ry.Co. Wk. May 1 {31,589 128,383 J 543,' 699 1455,288
Maroh
A Land Co
Houghton Oo. 8t. Ry. February
Houston Eleo. St. Ry. February
[Vol. lxxviii.
a month, and in which we bring together all the roads from
which monthly returns can be prooured, was given April
80, the next will be given May 28.
Xet Earnings.——.
Groan Earnings.
9
9
17,948 16,965
105,190 98,831
24,382
17,031 16,975
17,226
5.177
5,084
329,247 213,272
41,494 36,816
22.839 13,355
33,760 37,851
February
Albany A Hudson
Amerloan R'ya. Oo.||. April
Anr. Elgin
Earnings
J
.
394,800.
Nkw Canada Southern Agreement.— The agreement with the
Canada Southern Ry. Co., bearing date Oeo. 31, 1882, expired by limitation Deo. 31. 1903. A new agreement was entered Into Aug. 15,
1903, taking effect Jan. 1, 1904, under whloh the Canada Southern
leased its road to the Mlohigan Central for 999 years, and the Michigan Central agrees, subject to the terms and conditions of said lease
and during the oontimianoe thereof, to operate the road and to pay
Interest on the present Canada Southern funded debt and upon suoh
Street Railway Net Earnings.— The following table gives bonds as are authorized by said lease to be issued In the future, and
dividends on $15,000,000 of Canada Southern 9 took at the
the returns of Street railway gross and net earnings received half-yearly
rate of 2^ per cent per annum until Jan. 1, 1910, and thereafter at the
this week. The last general summary which we furnish once rate of 3 per cent per annum. This agreement was duly approved at
.
May
7,
THE CHRONICLE.
1904. J
meetings of the stockholders of both companies, respectively, called
for snob purpose, and reoelved on Oot. 9, 1903, the approval of the
Governor In Council of Canada.
Statistic*.— Operations, earnings, charges,
balance sheets have been as follows:
OPERATIONS AND FISCAL BE8DLT9.
1902.
1,653
1903.
1,653
Miles operated
etc.,
and the
1901.
1.658
1900.
1,635
Equipment—
461
461
461
461
Lioooiuoti vee
377
377
381
377
Passenger eqalpm'c
13,959
14,431
Freight equipment.
14,606
14,450
Operations—
3,741,312
3,40 0,075
Passengers oarrled. 3,859,748
3,012,293
Passenger mileage.. 235,974,411 225,702.912 228,29 3,565 177,330,729
2-194
2-091 ots.
2034 ots.
Rate per pass perm. 2*159 ots.
ots.
Fr'ht(tonB) moved. 14,116,818 11,646,111 11,248,211 10,367,518
12,006,102
Fr"ht (tons) mileage 12,457,745 U.965,108 12.079,653
0-092 ots.
0-618 ots.
676 ots.
Ay. rate p.ton p. mil e 0658 ots.
Earnings—
9
$
$
$
Passenger
5,094,699
4,719,068
4.644,230
3,889,756
Freight
16,161,324 13,279.220 12,858.455 11,876,037
964,338
Mall, express, etc.
1,290,177
1,046,795
987,588
ating expenses, Inoludlng betterments, was 8216 per oent this year,
as against 78 71 per oent for the preoedlng year. The oost of all betterments and additions to the property was oharged to expenses, the
"Construction and Equipment" aooount remaining the same as at the
close of the previous year.
Dividends of 5 per oent on the first preferred and 3 per oent on the
second preferred capital stook were deolared, payable Maroh 1, 1904,
from the net earnings of the year 1903.
and charges,
Statistics.— Operations, earnings, expenses
sheets, have been as follows:
and the balance
Miles operated
Optrations—
Passengers oarrled.
1903.
1902.
1901.
1900.
513
613
513
513
767,719
620,767
662,250
Pass. car. 1 mile.... 83,835,491 78,310,390
1-65 ots.
1-66 ots.
Rate per pas. per m.
Earns, per pas.tr.m.
9 1-246
$1097
4,860.835
Freight (ton*) oar...
4,512,120
63,048,712
1-57 ots.
577.784
66,548,451
1-70 ots.
$1*173
4,623,086
4,069.359
$1015
Frght(tons)oar.lm.l309956766 1219576176 1339546971 1210172317
0-475 ots.
0-478 Ots.
453 cts.
Rate per ton per m. 0-527 ots.
$1-597
$1-538
$1-389
$1-335
Earns, per frt.tr. m.
Earns, per mile
$16,153
$18,649
$14,312
$13,428
—
Earnings
$
9
$
9
Passengers
1,380,734
1,216,911
1,304,105
1,130,092
19,045.083
18,490,273
16,730,131
Mall, express, etc...
6,902,380
165,205
5,791,033
130,955
6,067,828
113,550
5,785,206
108,061
3,442,290
2,764,762
7,753,993
8,448,319
7,138.899
7,485,483
7,023,359
276,787
508,132
2,643,617
2,406,880
7,368,609
343,179
467,206
Total earnings..
386,904
888.851
3.768,140
2.380,654
8,368,337
401,311
549,062
Expenses—
Malnt. of way, etc.
Total op. expen. 18,862,321
15,467,504
14,745,964
13,229,491
(81*22)
(79-75)
(79-08)
908,085
815,948
4,113,512
116,916
263,243
96,924
654,260
591,113
3,320,597
114,216
250,073
103,994
646,008
682,076
3,458,075
105,593
225,962
93,912
3,577,579
3,744,309
3,500,641
6,314.627
5,034.253
5,211.626
Total gross earn. 22,552,200
Operating expenses—
Malnt. of way, etc.
8,467,962
Malnt of equlpm't. 3,454,994
10,663,610
Transportation
General
Taxes
P.cop exp.to earns.
Net earnings
t
1779
(8364)
3,689,879
INCOME ACCOUNT.
1903.
1902.
9
1901.
1900.
9
9
3,689,879
54,932
3,577.579
54,013
3,744,309
69,739
3,500,641
45,094
Total Income...
Disbursements
Rentals paid
Interest on debt
Can. Southern share
3,744,811
3,631,592
3,814,048
3,545,735
166,310
184,310
1,978,641
2,026,468
310,168
184,264
2,271,250
375,238
210,000
749,520
749,520
749,520
184,310
2,219,908
300,852
80,000
4,401
749,520
8.249,559
3,270,466
361,126
3,790,272
23,776
3,538.991
6,744
855,088
second track..
Miscellaneous
Dividends (4 p. o).
495,252
BALANCE SHEET DECEMBER
1903.
1902.
Assets—
$
$
Construction ac47,9-6.618 45,9B8,fi59
counts
Investments
7,004,169 1,187,373
Fuel and supplies. 1.830,040 "1,823,826
Accts. receivable.. 1,481, »8i
Uncollected earnings
1.J61.347
712,277
Cash
Total
-V.
1,281,228
493,371
510,262
60,&66,223 61.204,713
31.
1903.
Liabilities$
Capital
18.738,000
Bonds (nee SUPP.).23,326.000
Billspayable
6,600.000
Accounts payable. 4,684,»1«
Accrued interest.. 314,496
Dividends
374,760
Income account... 8,119,753
Total
1902.
$
18.738.C00
21,275,000
2.918,858
273,^5
374,760
7,624,600
60,856,223 61.204,713
78, p. 8387, 1874.
New York Cbieago &
,
Other lnoome
Total
5%d1v.onlstpf.stk
Div. on 2d pref. stk.
2,104,645
40,125
2,273,858
32,291
1,729,681
26,721
2,184,401
2,144,770
2,306,149
1,756,402
777,000
185,649
250,000
(3)330,000
777,000
154,217
250,000
(3)330,000
777,000
104,092
250,000
1,542,649
602,121
1,351,092
585.000
1,511,217
794,927
756,000
17,121
38,927
6,723
777,000
176,738
250,000
St.
Louis Railroad.
says in substance:
Improvements.— The length
of bridges is: Iron. 4 miles, 412 feet;
wooden, 2 miles, 4,511 feet; the Increase for the year in length of
Iron bridges Is 892 feet, and the deorease In length of wooden bridges
Is 1,548 feet.
Of the deorease in length of wooden structures, 1,046
feet were replaoed with oonorete culverts and permanent earth embankment, and 502 feet were replaoed by new iron structures. As In
the previous year, the work of rebuilding or replacing some of the
lighter Iron bridges with heavier and more modern steel structures,
designed to carry heavier weights, has been oontinned. There was
appropriated for this purpose during the year $230,000, whloh was
charged to operating expenses. Most of these bridges have been
ereoted, and the balance will be completed during the year 1904.
There was ballasted during the year 6-40 miles of traok with cinders,
222,975 cross ties were placed In the traok, 79 tons of new 65-pound
and 5,036 tone of new 75-pound steel rails were laid (4360 miles).
The oondltion of the traok has been materially improved.
Equipment.— The lnoreased business and unusual weather conditions have made necessary lnoreased repairs and renewals to engines
and oar equipment as shown. The 15 new consolidation engines contracted for, the oost of whloh was oharged to expenses iu 1902, were
delivered to the company during the current year. Contracts have
been made for the construction of 5 new consolidation, 5 switohlng
and 6 passenger engines, same to be delivered during 1904, and for
whloh $175,000 was appropriated and oharged to operating expenses.
There were purohased during the year 300 gondola cars to be paid for
In thirty equal monthly Instalments. For these oars there was set
aside out of the earnings for the year $210,000, whloh was charged to
operating expenses.
Earnings.— The gross earnings during the year were $8,448,319, an
increase of $1,309,420, or 18-34 per cent larger than for any similar
period in the history of the company, all olasses of earnings show
a steady and healthy growth.
The earnings from freight traffic lnoreased $1,111,348, or 19-19 per
cent. The average rate reoelved per ton per mile was -527 oent, as
against -475 oent for the previous year, an Increase of -052 cent.
There was an Increase In the number of tons moved of 348,715, and
in tons moved one mile of 90,380,590. The earnings from passenger
traffic lnoreased $163,823, or 13-48 per oent. The average rate received per|passenger per mile was 165 oents, as against 166 cents tor
the previous year, a decrease of -01 oent. The number of passengers
moved one mile shows an increase of 10,525,101.
The operating expenees, inoludlng taxes, rental of terminals and
betterments, were $6,941,043, and as compared with the previous
year, show an lluorease of $1,321,790, or 2362 per,oent. The large
inorease In expenses Is attributable to the substantial Inorease In the
business done by the company during the year; also to lnoreased oost
of material and supplies purohased for use of the oompany, particularly the Item of fuel, whloh, by reason of the advanoe In price, increased $206,371; also to the lnoreased rate of wages paid all classes
of labor during the year, amounting to $181,479, together with the
Inorease In taxes of $18,170.
The percentage of operating expenses, excluding betterments, to
gross earnings was 74-74 per cent for the current year, as against
70' 52 per cent for the preceding year, while the percentage of oper-
(3)330,000
650,663
626.416
24.247
..
I
1903.
$
1902.
$
Bills receivable....
.
Total
861.722
630,877
940,313
11,088
98,311
(2)220,000
405,310
398,687
31.
1903.
Liabilities—
46,086,158 46,086,158
Cost of road
Cost of equipm't.. 3,720,n47 3,720,8*7
Materials and fuel
868,755
266,262
Cash & cash Items. 521,315 1,074,793
Agents, etc
Other companies
P. O. Dept
Miscellaneous
(8104)
(69-62)
GENERAL BALANCE SHEET DECEMBEB
Assets
5,293,678
2,183,692
60,709
Surplus
Add'sandbett'ts...
Balance, surp
230,486
96,231
(70-52)
1,633,738
Total.....
4,966,961
1(74*74)
Payments Interest on bonds..
-V.
(Report for the year ended Dec. 81, 1903. J
The report, signed by Chairman Depew and President Canniff
Total
of exp. to earn.
Net earnings
o.
Equip, payments...
New
Total
Surplus
Taxes
Rent of terminal...
9
NetearnlDgs
Ino.from lnvesim'ts
—
Malnt. of equip
Cond'g. transp'n....
General
P.
Three ciphers omitted.
BeceipU—
Freight
600,672
516,629
608,366
7,825
65,765
St'fc
1902.
$
i
(seelNV.Strp. 30.000,000 30,000,000
Funded debt
19,426,000 19,425,000
712.817
637,576
282,181
854.879
Due cos. & indlv.. 610,403
273,124
Renewal & imp ac.
470.000
085,000
Int. due not paid.
10,640
10,820
194,ii50
Int. acc'd,;not due.
194,260
Equip, account ...
29,669
30,388
Dividends
680,669
680,209
Sink, fund acct....
641,897
541,b97
Id come account..
388,271
364 023
Unpaid vouchers..
Unpaid pay-rolis..
—
Total
63.134,687 52,8*7,116
.63,134,887 62,847,116
78, p. 343, 340.
Philadelphia Company of Pittsburgh.
(Report for the year ending March 31, 1904.J
The report of President Reed, the company's income account, balance sheet and stock holdings, the combined income account of all the operating companies and the report
of President Callery of the Pittsburgh Railways Co., will be
found in full on pages 1787 and 1788.
Statistics.— Earnings, expenses, &c, were as follows:
1902-03.
1903-04.
Receipts—
$
1901-02.
190001.
$
Div.
4,377,399
158,493
on stoofcs owned l, 407,440
Rents
3,162
Int. & discounts, &c. 210,444
3,769,163
161,155
1,424,198
3,378
120,108
$
3,188,121
115,073
773,448
3,626
66.690
Total reoeipts... 6, 156,938
Operat'ns.taxeB, &c 2,067,006
5,478,002
1,768,172
4,146,958
1,357,559
3,041,072
1,090,860
4,089,932
3,719,830
2,789,399
1,950,212
131,853
287,238
Common div'ds. (6%) 1,737,139
Interest on bonds... 921,481
Other Int. <fe mlsoel
Improvments, extensions, eto
612,313
92,160
287,251
1.702,931
863,283
26,462
From gas
From oil
Net earnings
Deduct—
$
Paid leased oomp'les
Pref. dividends (5%)
(6)
572,227
281,870
250,680
(6)886,023
454,729
34,446
570,630
2,586,450
64,989
317,753
3,527
68,353
(5)
226,082
199,918
736,846
209,896
31,591
544,337
Total
3.690,024
3,544,313
2,478,378
1,948,669
Balance , surplus.... 399,908
*175,517
311,020
1,543
* In 1902 oompany received in addition $105,625 premium on bonds
sold. $2,000 profits on realty sold and $698,184 "deferred" dividends
on Consolidated Traction preferred stock.— V. 78, p. 1276, 703.
United Gas Improvement Company.
(Report for the year ending Dec. 31, 1903.J
President Dolan in hie report says:
Status.—The report of last year gave the details of the company's
growth from its organization and a list of the companies lu whloh we
were {Interested on Dec. 31,1902. The only ohange to be noted in
that statement at the end of the year 1903 is the Inorease of the Issued
capital stock to 136,674,955; the exohange of our preferred and common stock in the Atlanta Gas Light Co. for the same amount at par
of the preferred and common stook of the Georgia Railway A Eleotrlo
Co. (V. 76, p. 1406), whloh owns the street railroads and eleotrlo light
plant in Atlanta; the sale of our stook In the eleotrlo light oompany
at Kennett Square, Penn., whloh oame to us iu a trade and w«s too
small to justify the supervision of our organization; the purchase of
the Savannah Gas Light Co., formerly leased to our Mutaal Gas Light
Co., and the consolidation of the two companies under the name of
Savannah Gas Co. (V. 77, p. 2162; V. 78, p. 1227, 1278); the leasing
to the Publlo Service Corporation of New Jersey of the gas oompaules
in whloh we are Interested in the State of New Jersey and the sale to
J
:
THE CHRONICLE.
1780
of our stock in the United Eleotrlo Co. of New Jersey
Bey (V. 76, p. 870). The Pabllo Service Corporation is organized under the laws of New Jersey, with an authorized capital of $2»,000,000. of which 910,000,000 has been sold for cash at par. The remainin g 9 1 5, 000,000 can only be issued for cash at not less than par.
Operations and Profits —During 1903 the gas companies In
whloh we are interested lnoreased their sales 16 6 p. o. In volume
over the sales of 1902. The business of the eleotrlo light and trolley
oompantes in whloh we are Interested lnoreased 11*3 p. o. and 53,
same corporation
respectively.
The net profits for the year amounted to $4,027,529, whloh is 124
p. o. upon the oapltal aotuallv invested, as the new capital was not
paid In until July 1, 1903. Oat of these net profits $2,569,349 was
paid in dividends and the balanoe ($1,458,180) Invested in the busl
ness. The General Manager will exhibit to any shareholder desiring
to see them statements of operating results for the year or give any
information required about your property.
Officers.— On Feb. 10, 1904, George Phlller tendered his resignation a* First Vloe-Presldent; thereupon Samuel T. Bodlne was elected
Firet Vice-President; Randal Morgan, 8eoond Vice-President, and
Walton Olark (formerly General Superintend), Third Vice-President.
results for four vears past compare as below:
1900.
1901.
1902.
1903.
$4,027,529 $3,473,643 $2,535,288 $1,714,347
Net earnings
1,672.324
Sale of securities
The
Total net income. $4,027,529 $3,473,643 $2,535,288 $3,386,771
2,018,238
1,797,728
1,553,768
2,569,349
Dividends, 8 p. o
Balanoe. surplus. .$1,458, 180
78, p. 1553, 1279.
$1,455,405
$737,560 $1,833,003
—V.
[Vol. Lxxvin.
necessity of using the proceeds of last season's paok for the retirement
of $750,000 of the old csrtifloates, and permits the use of such proceeds, together with the amounts to be realized from receivables, for
meeting the expenses of operations during the ooming season. From
the first prooeeds of the new paok $400,000 oan, under the provisions
of the Court orders, be used, if necessary, to defray the cost of the
paok.
Outlook.— We propose to operate on a very conservative basis on
Puget Sound with a view of packing only sufficient to use up the
material oarried over, and hope to overoome laet year's loss at that
point and show some profit. The Western Alaska oanneries should do
fully as well as last year. We shall operate only one, possibly two,
Southeastern Alaska plants, thereby greatly curtailing the paok of
cheap grades and assembling and utilizing supplies on hand in Southeastern Alaska.
We take the liberty of recommending to the oreditors the organization of a company to take over tue properties and terminate the
receivership.
The Industry, particularly on Puget Sound and in
Rrltish Columbia, has been passing through a period of great depression, caused by the short oatoh of the last two years, from which relief
is expeoted by the constantly Improving conditions of the market, and
the probability of the periodical large run of salmon due in 1905.
company with a moderate subscribed working oapltal and inoluding
the surplus of liquid assets herein shown should be In a sufficiently
strong financial condition to obtain such accomodation as might be
necessary during the active season, and could be operated In the most
A
economical manner.
Our sales of cauned salmon sinoe Deo. 31. 1903, show a substantial
advance over estimated values. The large purchases of cheap grades
for shipment to Japan for army use have relieved the market and furnished a new outlet for this product.— V. 78, p. 824.
& Navigation Co.
Securities Company of New York.
months ending Dec. 31, 1903.
{Balance Sheet of Dec. SI, 1903 J
New York, George D, Hal lock of
This company was incorporated under the laws of New
New Jersey, James A, Kerr of Seattle and J. R, Winn of York State in Jnly, 1899, as successor of the Equitable SeAlaska, who in March, 1903, were appointed receivers of the curities Co. (a reorganization in 1894 of the Equitable Mortgage Co. of Kansas City) and issued its 4 p. c. consols, series
company, report as follows:
Assets and Current Liabilities.—The Inventory, prepared as 60on A, B and C, in exchange at certain rates for that comPacific Packing:
(Receiver'* Report for 10
Thomas B. McGrovern of
,
showed our estimated valuations:
ESTIMATE OF MARCH, 1903.
after our appointment as possible,
AssetsFloating properties
$608,000
Corporate stocks (fishing
* ssets
Am. Fisheries
Co
.1,100,061
21 canneries & equip'ts. 882,100
Advauo. on 1903 contr's.
65,132
Supplies at oanneries... 339,685
Canned salmon-stook
983,415
Furniture, eto
5,000
Transportation supplies.
54,743
Nome agenoy
Total
53,959
50,000
20,000
45,000
18,200
20,000
6,103
supplies.-
Fleet aooount
Total assets
$4,766,546
Accounts payable
Debentures
$1,240,721
1,800,000
Notes
200 000
Unearned insurance
Interest paid in advance
Liabilities (as of Mar. 2,'03.)
Collateral loans
$45,148
,
Note. Union Oil Co
Tin Plate, eto
Accounts receivable
Seattle Fish Co
270,000
locations)
St'kln Pao.
(concluded)—
Cash
$213,530
1,681,750
$4,936,001
69,000
.'
Contingent
The
collateral loans have sinoe been reduoed as of December 31, 1903, to
$630,827
And the accounts payable, most of whloh were for labor
and supplies, have been reduced as of the same date to ...
28,408
The following shows the available liquid assets and ourrent liabilities
as of Dec. 81, 1903, and as they stood before payment of $500,000
receivers' certificates, to which reference is made below. Attention is
called to the f aot that the liabilities Include only those incurred by the
receivers.)
RECEIVERS' CURRENT ASSETS AND LIABILITIES DEC. 31, 1903.
Liquid Assets
Current Liabilities—
Cash
$573,029 Reoeivers' certificates. $1,250,000
Equity In Oil Co. note.
25.000 Interest on certificates.
20,208
Aocounts receivable...
186,759 Accounts payable
94,057
Estim. value of canned
salmon on hand with
$1,364,265
equl'y in conslgnm'ts
857,105
S applies & materials...
520,272 Excess of liquid assets
over current liabilities
$2,162,165
$797,900
The fixed properties remain Intact with the exception of S steamers*
whloh were sold for $65.000 I fishing location sold for $7,500 a few
other sales, aggregating about $4,500; and the Kenal Cannery, whloh
was destroyed by fire and insurance thereon collected.
Operations.—The result of these operations Is estimated as of Deo.
;
;
31, 1903, as follows
estimated results of 1903 pack.
$1,897,90» Miscellaneous income
sal8undry receipts (int.)..
2,784 Kenal Insurance (paok)
Total value of pack
Total value of salt
mon
$5,626
9,009
66,754
Steamer earnings, net.
21,111
Fleetearnlngs
70,518
Grand total
$2,073,711
Total expenses. Including interest, but not including receivers' compensation or legal servioes
2,027,349
Estimated net profit
.
$46,362
The following unusual conditions operated against a more successful
result
:
(l)
pre-existing contracts for Chinese labor called for a mini-
mum guarantee approximating 220,000 oases in excess of the quantity
salmon actually packed; (2) the supplies oarried over in the Alaska
oanneries showed a shrinkage in aotual market value of nearly
$50,000; (3) the unexpected shortage of the paok on Paget Sound of
194,000 cases, against whloh tue usual advanoes had be«n made and
customary labor guaranties given largely offset the profit In Western
Alaska; (4) the low prloe of the oheaper grades of salmon (of whloh a
very large quantity was oarried over from the operations of the year
preceding tue recelverehlD) doe to conditions brought about by competitors, who, owing to the flnanoial difficulties of the oompany, were
able to foree liquidation.
All of these conditions should he overcome during the ooming season.
Our supplies and materials are inventoried at current market prloes,
and are believed to be tree from damage and in good condition The
competition in the oheaper grades has now praotloally worn Itself out,
the paok of these grades last year having been less than 500,000 oases,
while the estimated consumption Is over 800,000 oases.
Receivers' Certificates.— For the purpose of operating the property in 1903 receivers* certificates for $1,250,000 were issued and sold
at par. The eortlfloates wore dated March 23, 1903.
To meet the financial requirements of the 1904 paok, the reoeivers
have made arrangements with the holders of these $1,250,000 reoeivers' certificates, by whloh $500,000 of the certificates have been paid
off, with the cash arising from sale of last season's paok. and of other
property pledged for their security, and $750,000 have been exohanged
for a new issue of that amount, falling due Feb. 1, 1905, authorized by
the Courts, upon petition of oredltors representing over $2,000,000 of
olalms against the company. This relieves the reoeivers from the
of
pany's debentures (see plan V. 68, p. 1181).
The English consols, series A and B, are secured by collateral deposited with English trustees, and the American consols, C, are secured by collateral deposited with the Manhattan Trust Co. as trustee. The consols are dated Sept. 1,
1899; denominations, $100, '$500 and $1,000.
They run till
purchased in the open market or called for redemption,
the whole amount or any part thereof being subject to compulsory redemption on any interest day, A and C at 105 and
interest and B at par and interest; interest payable March 1
and Sept. 1 at office of company, by check. The principal
becomes payable in case of 80 days' default in payment of
,
interest.
Further facts:
Amount
of consols outstanding Deo. 31, 1903: Series A, $676.382 26; series B, $446,448 94; series C, $2,637,900. The series
consols are issued in pounds sterling, and the oompany has the option
of paying them at any interest-payment date at 105 and Interest.
The series B consols are repayable at par, 10 p. c. yearly or more If
the oompany sees fit. Original amount of series B consols, $1,625,658 50. Series O is the Amerloan issue, and the oompany has the
option of paying them at any interest-payment date at 105 and Inter-
A
est.
Since the last annual statement, Deo. 31, 1903, the oompany has repaid 8 p. o. of the original nominal amount of series B oonsols outstanding, leaving the net liability on aooount of series B oonsols at
this time, $329,811 69.
Series A and B oonsols are expressed in pounds sterling, but the
equivalent In ourrenoy is oarried in the company's statement. London agent, J. A. H. Maonair, 206 Gresham House, E. O.
Dividends at the rate of 5 p. c. per annum have been paid
on the capital stock semi-annually in January and July sinoe
January, 1900, the last distribu ion having been 2% p. c,
paid Jan. 15, 1904, at the company's office, 24 Broad St.
Par value of shares, $100.
The balance sheets of Dec. 31, 1903, 1902 and 1901 compare
as below:
BALANCE SHEET DEO. 31.
Assets—
1903.
1902.
Stocks and bonds
$4,054,536 $4,023,403
Mortgages
849,798
936,278
Real estate
395,550
575,997
Bills and aooounts receivable...
163,206
209,286
Aoorued interest receivable
60,101
44,741
Loans on collateral
177,631
400,000
Cash
424,066
266.499
Total
Liabilities—
Capital
1901.
$3,757,483
1,298,908
692,984
196,268
39,741
400,000
356,954
$6,121,887
$6,446,205
$6,741,328
$1,700,000
Surplus
500,000
Undivided profits
88,029
Dividends due Jan. 15...
42,500
Oonsols.
3,759.731
Miscellaneous aocounts payable
30,019
Interest and taxes
54,608
$1,700,000
600.000
37,132
42,500
4,032,125
76,586
67,862
$1,700,000
500,000
'.
42,500
4,197,202
224,917
76,709
Total
$6,124,887 $6,446,205 $6,741,328
Officers— Norman S. Meldrum, President; Andrew J. Miller, VioePresident and Secretary Edwin G. Woodllng, Assistant Secretary.
Directors— James A. Blair, S. Reading Bertron, Francis L. Hine,
John B. Dennis, Benjamin Graham, John K>an, Otto T Baunard, Jas.
Tlmpson, Abram M. Hyatt. 0. Ledyard Blair, G. Henry Whitcomb,
N. s. Meldrum. W. W. Miller.— V. 69, p. 132.
;
American School Fnrnitnre Co.
(Earnings for the year ending Dec. 31, 190S.J
A
statement of the earnings for the two calendar years
1908 and 1902, compiled on the same basis (conn are report in
V. 78, 1547), is as follows:
1903.
Total sales
$3,199,035
Operating expenses, inol. cost of goods sold. 3,019,428
Net gain
Deduot Interest charges and depredation...
Balanoe to surplus
$179,597
113,294
$66,303
1902.
$2,981,627
2,596,492
$385,135
153,286
z
$231,849
x Included: Interest on 6 p. o. bonds, $90,000; other Interest, $43,337; depreciation (net), $19,949.— V. 78, p. 1647.
May
7,
1904.
THE CHRONICLE.
i
main objects to which the
American Oak Leather Co.
{Balance Sheet of Jan. 1, 1904. J
This company, which is described as "the principal competitor of the United States Leather Co. in the distribution
of oak tanned sole leather," has filed the following balance
sheet with the Massachusetts Commissioner of Corporations:
BALANCE SHEET JAN. 1, 1904.
A sscts—
Real estate & maoh'y..$ 1,271,892
3,148,23«
Stock In process
Liabilities—
Capital stock
Cash and debts
Surplus
Aooounts payable
1,470,809
receiv..
Total
$5,890,937
Total
Compare V.
$3,500,000
1,334,177
1,056,760
$5,890,937
76, p. 867.
filed
with the Massachusetts authorities
shows:
A.
Liabilities.
$S€tS*
Real est. & maoh'ery. $3,617,028
1,392,711
Merchandise
Cash & debts reoeiv'e. 2,152,581
4.3*7
N. Y. office & fixtures.
4,702,652
Investments
Capital stock
AoconntB payable
8urplus
Profit
$7,000,000
470,017
3,845.301
553,999
loss
Total
.$11,869,317
Total
and
$11,869,317
-V. 78, p. 1113.
GENERAL INVESTMENT NEWS.
gan & Co., managers of the syndicate which underwrote the
bonds for the purchase of the Lonisville & Nashville stock,
announced on Tuesday a first dividend to the members of the
syndicate of 1-949 per cent.
The syndicate expired Dae.
—
31
and was extended 14 months. V. 78, p. 819.
Boston & Worcester Electric Companies.— New Securities.— The Massachusetts Railroad Commis'ioners nave authorized the Boston & Worcester Street Ry. Co. to issue
1100.000 additional capital stock at 100, and also $200,000 of
per cent bonds, making a total stock issue of
the 20-year
$1,565,000 and total bonded debt $1,450,000.— V. 77, p. 249.
Boston & Worcester Street Ry.— See Boston & Worcester
V. 78, p. 701.
Electric Companies above.
Bristol Connty (Mass.) Street Ry.— Receivers.— At Boston
on May 3 John P. Burnett of Southboro and John L. Hall of
Boston were appointed receivers for the company by the
United States Circuit Court. The appointment was made on
petition of the Pacific Surety Co. of California on account of
a promissory note of $5,000. The plaintiff alleges that the
road owes over $250,000, mostly on promissory notes Compare
Massachusetts Securities Co. in V. 78, p. 1447.—V. 73, p. 899.
Brooklyn Rapid Transit Co.- Traffic— See "Rapid Transit
m
—
New York
City" below.—V. 78, p. 1119, 1108.
Brunswick & Birmingham RR.— New Receivership Suit.
Judge Parker of the Superior Court at Brunswick, Ga., on
May 2 appointed C. D. Oge of that city receiver of the property on petition of the Knickerbocker Trust Co. of New
York, the mortgage trustee. The petitioners allege that interest due at three different periods, and aggregating $147,857,
They favor the consolidation of the Brunswick
is in default.
Birmingham and the Atlantic
Birmingham.
The case of E. C. Machen was called at Macon in the South
Georgia United States District Court on May 2 and was postponed because of the illness of Machen's attorney. Machen obtained the appointment of a temporary receiver on
April 25, alleging that as a stockholder he was not apprised
of the fact that a sale was contemplated, and that the B.
B. owes him $5,000.— V. 78, p. 1548, 1391.
Buffalo Rochester & Pittsburgh Ry.— Quarterly,— Earnings for the quarter and the nine months ending Mar. 81 were:
in
—
&
&
&
8
rnos.
end'g
Mar. 31.
1904
1903
Gross
earns.
$1,615,531
1,730,364
Net
Interest,
taxes, etc.
Balance,
earns.
Other
income.
$596,905
701,946
$4,887
11,530
$434,251
376,585
$167,541
336,890
rurpius.
9 months—
1903-4
$5,633,282 $2,376,801 $29,893 $1,246,439 $1,160,255
1902-3
5,441,610
2,318,823 26,385
1,094,769
1,249,939
-V. 78, p. 701, 583.
—
$9,450,000 realized from the 70,000
stock recently issued will be applied :
Canada firsts, paid May 1
$4,000,000
new
&
debentures, paid
do
Payment
of loans Incurred for
tion and rolling stock
May
1
Chateangay BR. construc-
2,250,000
212,000
540,000
585,000
Chateaugay RR. mortgage paid
Rolling stock
Debentures
Sinking fund (2,700 shares D.
&
1,000,000
H. stock retired)
364,500
Total of items enumerated
$8,951,500
This new cash has put the oompany in an easy financial
condition and there is no probability of new capital being
required in the "near future. The payment for 600 coal
and 250 box cars has been completed. There have been ordered 46 new locomotives, of which 24 have been delivered.
V. 78, p. 1222, 1108.
Easton (Pa.) Consolidated Electric Co.— See Lehigh Valley Traction Co. below.— V. 78, p. 1446, 768.
Georgia Southern & Florida Ry.— Acquisition, Following a meeting of the directors on April 21, it was announced
that, in order to cement existing traffic relations, the company had purohased an interest in the capital stock of
Florida Southern Ry. Co. The indepenthe Hawkinsville
dent operation of the latter will be continued. V. 78, p. 702.
Great Northern Ry.— Dividend, The company has declared the usual quarterly dividend of \% per cent, payable
May 2, but only "to those lawfully entitled to receive the
same." As most of the stock is owned by the Northern Securities Co. which the Court has decided cannot collect the
dividend thereon, plans, it is rumored, are under consideration by which the owners of the Northern Securities' stock
may participate in the Great Northern and Northern Pacific
distributions without waiting for the exchange of their
shares for the shares of those companies. V. 78, p. 1222.
Greenwich & Johnsonville Ry.— Mortgage.— This company, which owns and operates a standard-gauge railroad
extending from Schuylerville to Johnsonville, New York,
22
miles, recently made a mortgage to the Standard
Trust Co. of this city, as trustee, to secure not exceeding
$500,000 of 4 per cent 20-year gold bonds dated Jan. 1, 1904,
and due in 1924, without option of earlier redemption, The
amount now issued or about to be issued is $400,000; thtre
will be reserved for new equipment and improvements $100,000.
The extension from Greenwich to Schuylerville, 1%
—
—
&
—
—
,
RAILROADS. INCLUDING STREET ROADS.
Atlantic Coast Line RR.— Syndicate Dividend. — J. P. Mor-
last
shares of
New York
do
—
Nil es-Kement- Pond Company.
{Balance Sheet Dec. SI, 1903. J
The statement
1781
—
miles, was completed some weeks ago, The company recently had a floating debt for money advanced by stockholders amounting to $369,575 which, it is understood, has been or
will be discharged by means of the present bond issue. Capital stock is $150,000.
Compare V. 78, p. 342.
Hawkinsville & Florida Southern Ry.— See Georgia
Southern & Florida Ry. above.— V. 77, p. 1294.
Interborongh Rapid Transit Co.— Traffic— See "Rapid
New York
City" below.— V. 78, p. 842, 102.
Valley Traction Co., Charleston, W. Va.— New
Mortgage.—This company, which recently passed under new
control, is reported to have filed a mortgage to the Citizens'
Savings & Trust Co. of Cleveland, as trustee, to secure $250,000 of 5 p. c. bonds, denomination $1,000. Russell A. Brown
of Cleveland was formerly the leading stockholder. The
property inoluded at last accounts 7 miles of trolley road.
Extensions are projected both up and aown the Kanawha
River to reach various mining towns. President, W. O.
Johnson; Vice-President, F. L. Grosscup; Ass't Seoy. and
Treas., A. H. Hampton, Charleston, W. Va.
Transit in
Kanawha
Lehigh &
New England RR.— New Management.— The
company having changed hands (the Lehigh
Navigation Co. according to reoent gossip paying
$300,000 for a majority of the stock), a new board of directors
was elected at the annual meeting on April 4. The board
includes the following, President Turner being the only
director to hold over:
President, William Jay Turner; Directors, Joseph 8. Harris, Samuel
Dickson, Louis A. Riley, William Jay Turner, Edward J. Fox, J. R.
control of this
Coal
&
Whitney.
Messrs. Harris,
Dickson and Riley are directors of the
Lehigh Coal & Navigation Co., Edward J. Fox has been the
Counsel and J. R. Whitney General Manager of the road for
several years. A director is quoted as saying:
The Lehigh & New England RR. is to be an important link in the
New England route via the Pongbkeepsle Bridge. Many thousand more tons of freight than has been usual in the past have passed
all-rail
Camden & Suburban (Electric) Ry. Lease. The
shareholders on May 5 ratified the proposed lease to the Public Service Corporation.
The lease is said to guarantee dividends on an increasing scale.— V. 75, p. 704.
Chicago Gr*at Western Ry.-See Mason City & Fort Dodge
over the Poughkeepsle Bridge during the last few weeks, but the tonnage in the future will be Immensely greater. Both the Lehigh &
Hudson and the Lehigh & New England will be links in the route,
which In the future must attain Buoh importance as to compel one of
the large trunk lines to seek its oontrol.— V. 78, p. 229.
RR. below.— V.
dustrials"
Lehigh Valley RR.— 8ee National Storage Co. under "Inbelow.— V. 78, 1497, 1496.
Lehigh Valley Traction Co.— Lease Annulled,— Judge McColorado & Northwestern Ry.— Sold.— At the foreclosure
sale in Boulder, Col., on May 4 the property was bid in for Pherson in the United States Circuit Court at Philadelphia
$100,000 by Col. S. B. Dick of Meadville, Pa., Vice-President, on April 30 signed an order restoring the Easton Consoliand the largest security holder in the company. An ex- dated Electric Ry. to its stockholders, who accordingly took
tension to Eldorado on the Denver & Northwestern is said possession on May 1. It Is rumored in Philadelphia that the
to be contemplated. Compare V. 78, p. 662. -V. 78, p. 820. American Railways Co. is negotiating for the control of the
Delaware & Hudson Co.—Financial Status.—The $5,000,- Easton Company.—V. 78, p. 1446.
Louisiana & Arkansas Ry.— Application to List.—The
000 bonds of the New York & Canada RR., which were guaranteed by the Delaware & Hudson Co. matured and were New York Stock Exchange has been requested to list the
paid on May 1 from the proceeds of the new stock issue of $2,724,000 first mortgage 5 per cent bonds of 1927.— V. 78, p.
1392, 102.
the D. & H.
As supplementing the offioial statements in V. 78, p, 583,
Manhattan Elevated Railway, New fork.— Traffic— See
985, we have been favored with the following resume of the "Rapid Transit in New York City" below.— V. 78, p. 989.
78, p. 1548, 1219.
,
—
A
THE CHRONICLE.
1782
Mason City & Fort Dodge BR.— New Stock.— This company, controlled by the Chicago Great Western, has filed a
certificate of increase of capital stock from $5,000,000 to
320,000.000. Compare Chicago Great Western in V. 78, p.
1548; V. 73, p. 616.
Massachusetts Secnrities Co. -See Bristol County Street
Ry above.—V. 78, p. 1447.
Metropolitan Street Ry of New York.— Traffic— See
"Rapid Transit in New York City" below.—V. 78, p. 1549,
[Vol. ikxviii.
month ago, were succeeded as directors by
George E. McCague of Pittsburgh, formerly General Freight
Agent of the Carnegie 8teel Co., and John C. Reilly, President of the Washington National Bank of Pittsburgh. Messrs.
McMullen and Given, it is understood, are;identified with the
Verner syndicate, their retirement from the board being,
it is supposed, occasioned by the
dispute regarding the
ownership of the Verner franchises. See V. 78, p. 1276, 703.
Pittsburgh Lisbon & Western RR.— Sold.— See Wheeling
& Lake Erie RR. below.—V. 76, p. 388.
1168.
Mexican Central Ry.— Officers.— No changes were made in
Rapid Transit in New York City.— Bills Signed.—See edithe personnel of the management at the annual meeting torial remarks on page 1760, also "New York City" on page
which was held this week. The directors, nowever, have 1796 (State and City Department) and compare V. 78, p.
been divided into five classes, the term of service of one class 1550, 1447.
to expire each year.
Passenger Traffic. —The following figures were filed with
Status —The annual report will be issued shortly. Presi- the State Railroad Commission on Thursday to show the
dent Robinson is quoted as saying:
traffic of the several roads for the year ending Feb. 29, 1904,
The Mexican Central has increased 9 p. 0. In mileage the past year in
comparison with that for the year ended Feb. 28, 1903:
to 3,200 miles. The earnings amounted to about $ 25,000,000 Mexloan,
an Increase of about 20 p. 0. The inorease in freight per ton per mile
PA8SKNGEE8 CARRIED FOB TEAR ENDING FEB. 29, 1904.
was between 5 and 6 p. o. Earnings per mile have increased the past
Transfers.
Increase.
Fares. Increase.
tions about a
,
year over any previous reoord. Everything in Mexico appears to be
prosperous and the future looks encouraging except so far as the currency question is concerned, which puzzling question has been with
us for so many years. That Is the only uncertainty in the Mexloan
situation. We have expended between $800,000 and $900,000 in gold
on the property during the past year In various Improvements, so that
We have recently
to-day the road is in flrst-olass condition.
been obliged to purohase a large amount of new equipment to meet
the Increasing demands of the business.— V. 78, p. 1109, 989.
National Docks Railway.— See National Storage Co. under
"Industrials" below; also Investors
1899.— V. 72, p. 141.
1
Supplement, October,
New York & Canada RR.— Payment of Bonds.—The 6 per
cent sterling bonds (amounting to $4,000,000) guaranteed by
the Delaware & Hudson Co., maturing on May 1, were payCo., Limable at maturity at the office of Baring Brothers
The $1,000,000
ited, 8 Bishopsgate Street, London, E C.
debenture 4}>£s were also paid on May 1. See Delaware
Hudson Co. above.— V. 75, p. 1147.
Cash
Interborough R. T. (Man. El)
873,133,248 37,318.852 None rep'td
N.Y. City Ky. (Met. St Ry.)
144,311
186,310,453
897,644.829
Union Ry. (Bronx).....
424,831
21,273,870 1,9^8.543
55.14fl.00l
Br'klyn Heights RR. (B. Rap. T.). 285.72^,986 23,280,423
Coney I'd. & Brooklyn RR
967,765
6,016,465
83,129,812
11,485,049
(?)
3,772,959
88,063
The increases in car mileage are reported as follows Interborough, 12,870,859 to 60,780,337; N. Y. City Ry., 954,666 to
62,412,527; Brooklyn Heights RR. (Brooklyn Rapid Transit),
3,025,769 to 54,894,315.-V. 78, p. 1550, 1447.
:
Rochester (N. Y.) Ry.— Change in Control— See RochesRailway & Light Co. below.— V. 78, p. 1276, 769.
ter
Rochester (N. Y.) Railway & Light Co.— Plan.— A circuHodenpyl, Walbridge & Co., 7 Wall St., New
York, and E. W. Clark & Co., Bullitt Building, Philadel&
ghia, says under date of April 30: "The Rochester Railway
& lo. purchases power from the Rochester Gas & Electric Co.
under a contract which expires in 1906. If this contraot is
renewed, the Rochester Gas & Electric Co. must agree to
New York Ontario & Western Ry.— Committee on Dissolu- install
the necessary maohinery to furnish the railway
tion of Voting Trust. At a meeting of the directors on
oompany a much larger amount of power. If it is not
Wednesday a committee of three members of the board, con- to be renewed,
the railway company must raise the money
sisting of Grant B. Schley, Gerald L. Hoyt and C. Ledyard
lar signed by
—
was appointed
to investigate the question of dissolving
the voting trust, as sought by a large minority interest of the
shareholders. See V. 78, p. 1549.
Bonds Sold. The company has sold to Kuhn, Loeb
Co.
$1,000,000 4 per cent refunding bonds, making $17,937,000 of
the issue outstanding.
The new bonds were certified
some time ago on account of additions and improvements,
and their sale will reimburse the treasury for these expenditures and clear off the floating debt.— V. 78, p. 1549.
Blair,
—
&
—
Panama RR. Dividend. This company has declared its
119th dividend, viz., 2% per cent, now payable at the office,
No. 24 State St., New York, to stockholders of record May 8.
In January last 4 per cent was paid, and during 1903 a like
amount, in two semi-annual distributions (April and October) of 2 per cent each; in 1902, 4 per cent; in 1901, 2 per
cent.—V. 78, p. 1447, 1887.
Faseoag & Providence (Electric) Ry.— Bond Issue.—
mortgage has been made to the Colonial Trust Co. of Philadelphia, as trustee, to secure not exceeding $700,000 of 5 per
cent gold bonds. These bonds are dated Jan. 15, 1904, and
are due Jan. 15, 1954, without option of earlier redemption;
denomination, $1,000 each. Interest payable Jan. 15 and
July 15 at office of trustee. The authorized capital stock is
$700,000, all of one clasa; par of shares $100. The issue of the
entire amount is contemplated; now outstanding, $6,800.
The road will extend from Providence to Pascoag, R. I.,
about 19 miles, via Johnston, Smith field and Gloucester.
The contract for construction has not yet been let. The
officers are President Charles M. Whitaker; John L. Lace
Jr. of Providence, Treasurer.
Pennsylvania
Wilkesbarre Ry.
RR.— Called Bonds.— Sun bury Hazleton &
first mortgage Series A bonds of 1878 to the
amount
of $16,800 have been called and will be redeemed at
par and interest on May 31 by the Fidelity Trust Co. of
Philadelphia.— V. 78, p. 1276, 1110.
Philadelphia Coatesville & Lancaster Passenger Ry.—
New Enterprise —Bond Issue. This company proposes to
build 28 miles of main trolley road, extending from Main
Street and 80. First Avenue in the Borough of Coatesville,
Chester Couoty, Pa., via Parkesburg, Atglen, Christiana,
Gap and Paradise Township, largely over private right of
way, to the eastern line of the Borough of Strasburgh, with
branch of seven miles from Coatesville to the village of Modena. The authorized capital stock is $600,000 in shares of
$50 each and a mortgage has been made to the Integrity
Title, Insurance Trust & Safe Deposit Co. of Philadelphia, as trustee, to secure $600,000 5 per oent gold bonds.
These bonds are dated March 1, 1904, and are due March 1,
1984, but are subject to call in any amount at the company's
—
option at 105 and interest on sixty days' notice when drawn
by lot. The bond issue is also limited to $20,000 per mile of
track completed. The President is A. H. Swing, Secretary
8. L. Hibberd Jr., Treasurer William Trimble; E. A. Tennis
of Philadelphia is the contractor.
Philadelphia Company of Pittsburgh.— Report.— The annual report will be found on pages 1787 and 1788.
New Directors.— At the annual meeting on Monday M. K.
MoMullin and T. Hart Given, who tendered their resigna-
necessary to make extensive additions to its own power plant.
The railway company will require a large amount of money
for other purposes during the next two or three years, and
inasmuch as the Rochester Gas
Electric Co. is essentially
a power company, with water power as well as steam, the
most reasonable plan appears to be to unite the control of
the two companies with ample money to develop the business of both.
"It is therefore proposed to organize the Rochester Ry.
Light Co., which shall own all the property and franchises
of the Rochester Gas & Electric Co. (V. 78, p. 587; V. 76, p.
598, 1038), and the Rochester Light
Power Co. (stock
$500,000, bonds $125,000, V. 76, p. 386), and shall acquire and
hold in its treasury a majority of the stock of the Rochester
Ry. Co. [total issue, $2,500,000 common and $2,500,000 preferred; bonds, $4,593,000. See page 929 of Street Railway
Section.], thereby controlling all the street railway, gas,
electric light and power business in the city of Rochester,
N. Y., with 170,000 population."
Further facts from the aforesaid circular and from a circular sent to the stockholders of the Gas
Electric Com-
&
&
&
&
pany follow:
ACQUISITION OP RAILWAY COMMON STOCK— RIGHTS OF NEW STOCK.
proposed to give the railway oommon stockholders $120 per
share In the cumulative preferred stock of the Rochester Ry. & Light
Co., which shall carry dividends at the rate of and limited to 4 p. o.
per annum for two years from June 1st, 1904. payable quarterly,
Sept. 1, Deo. 1, Mar. 1 and June 1, and at the rate of and limited to
5 p. o. per annum from June l, 1906. In addition the railway oommon
stockholders will be given the right to take share for share in the
oommon stock of the Roohester Ry. A Light Co. 70 p. o. paid, upon the
payment of $20 per share. A seoond instalment of 10 p.
or $10
per share, will be payable July 1. 1906, leaving a further liability to
assessment of $20 per share. On aooount of the large amount of
money provided as hereinafter stated, It is not anticipated that additional oalls will be necessary, and It will be provided that no additional oalls oan be made before July 1, 1907, or more than $10 per
share In any oonseoatlve twelve months.
The plan In no way affeots the bonds or preferred stock of the Roohester Railway Co., except to Inorease their value on aooount of the
large amount of money which will be expended for extensions, betterments and Improvements to the property.
It Is
c
CAPITALIZATION OV THE ROCHESTER RAILWAT & LIGHT CO.
o. bonds [to bear interest
from July 1, 1904, payable semiannually; prlnoipal subjeot to
call for redemption at company's option on any Interest day at
First Consolidated Mortgage 50-year 5 p.
110 p. c.]; totai Issue
Of whloh- To provide for R. G.
stock ($2,360,000) at 120
To provide
for R. U.
& £.
& E. 6 p. o. preferred
oommon stook ($2,150,-
000) at 110
To be
sold (forthwith) for cash at par and Interest..
Reserved for an equal amount of underlying R. G
K. bonds (see V. 76, p. 598 and page 1748 of Railway and Industrial Beotion)
Reserved for an equal amount of R. O.
E. water-
&
&
$16,000,000
2,382,000
2,365,000
500,000
5,450,000
power mortgages
780,000
Reserved for betterments. Improvements, etc
4,073,000
Note.— The mortgage will be so drawn as to safeguard the Issue of bonds
trusteed for future requirements and provision will be made by which all
after-acquired stocks and property against which such bonds are issued shall
be brought under the lien of the mortgage. There will be a provision that before any of the trusteed bonds shall be Issued against betterments or permanent Improvement?, the consolidated oompany shall have first expended the
sum of t7&0,0co upon betterments and permanent improvements to Its own
property, and that no part of said bonds so trusteed shall be Issued against
betterments or permanent Improvements made by the use of said $7B0,0J0.
The bonds are to be secured by a first consolidated mortgage upon all the
frHiiohlses, real estate, plants, etc of the consolidated oompany, and by a deposit as additional security, with the trustee, In pledge, of a majority of ail
present and future Issues of Roohester Hallway stook.
:
May
1,
THE CHRONICLE.
1904.
|
Cumulative Preferred Stock, to be preferred as to dividends and assets,
and to carry dividends at the rate of and limited to 4 p. o. per
annum from June 1st, 1904, to Jnne 1st, 1906, and dividends at
tbe rate of and limited to 6 p. o. per annum thereafter, payable
Bept. 1st, quarterly.
for $2,500,000 Roohester Ry. common
stock at 120
$3 000,0G0
The Rochester Gas & Eleotrio stockholders will have the option of
taking 120 for their stock, payable In 1 he preferred stock of the
Rochester Ry. & Light Co., Instead of bonds as noted above, and
to the extent tbat they avail themselves of this privilege tbe
total Issue of preferred stock will be lnoreased and the amount
of the bonds Issued for the Roohester Oaa & Eleotrio stocks will
be decreased and added to the amount reserved for betterments,
To provide
S
Improvements,
eto.
Common
S'ock.— Total Issue, 70 p. o. paid, liable for 30
$6,500,000
p. o. additional assessments (see above)
CASH, ETC., AVAILABLE FOR IMPROVEMENTS AND EXTENSIONS.
Under the provisions of the plan/about $1,250,000 in cash will be
Immediately available for the company's purposes; and from farther
assessments on the common stock and from surplus earnings It Is
estimated tbat another $1,000,000 will be forthcoming for betterments, extensions and improvements during the years 1904, 1905 and
1906, making a total of about $3,260,000 provided for use in that
period, of whioh but $500,000 will come from the sale of bonds. In
addition there will be In the hands of the trustee $4,073,000 of bonds
reserved for future requirements, and the common stock will be liable
to further assessment of $1,300,000.
EARNINGS AND REQUIREMENTS.
During the past three years the development of the Roohester Ry.
property has been remarkable. There has been no increase in capitalization. On the oontrarv, $1,000,000 was paid In by the stockholders without any lnorease In the total amount of the stock or bonds
outstanding. This amount and at least $500,000 additional out of
surplus earnings has been expended for the improvement and development of the property. The great lnorease in the business, however, n quires large yearly outlays for more oars, additional power,
extensions, shop and bam faollltles, eto.
The Roohester Gas <fe Eleotrio Co. presents a problem very similar to
that presented by the railway oompany three years ago, when the
present
power
management took charge
of Its operation.
|
Its gross
earning
same as the railway oompany,
butfa large amount of money must be expended in reconstruction and
extension and in the development of Its valuable water power, and a
large amount of work must be done In reorganization and management in order to obtain the best results. The final result, however,
should be very satisfactory in Improved and extended eleotrio light
and power and gas servioe to the people of Roohester as well as profit(V. 78, p, 587,) Is practically the
able to the stockholders of the Roohester Railway & Light Co.
We estimate that the Roohester Railway * Light Co. can earn from
the start a surplus over all fixed charges and dividends on its preferred stock, and as soon as the gas and eleotrio properties oan be reorganized and reconstructed and the railway, gas and eleotrio business fully developed, that It will earn a substantial surplus available
for dividends on its common stock.
The Rochester Railway Co. common stockholders
are
asked to deposit their stock under this plan with E, W.
Clark & Co. Bullitt Building, Philadelphia, on or before
May 15, and all the shareholders of the Rochester Gas &
Electric Co. are requested to deposit their certificates with
the Security Trust Co. of Rochester on or before the same
date. No bonds will be used to acquire the bonds or stock
of the Rochester Light & Power Co.
A committee consisting of E. W. Clark Jr., C. M. Clark
and Anton G. Hodenpyl, for the railway company and the
Rochester Light & Power Co,, and Frederick Cook, Albert H.
Harris and Granger A. Hollister, all of Rochester, for the
Gas & Electric Co., has charge of carrying out the plan. A
syndicate has been organized to take at the same price any
of the common stock of the Rochester Railway & Light Co.
not taken by the railway common stockholders.
St. Joseph & Grand Island Rj.— Notes.— The First Trust
& Savings Bank of Chicago has placed all, or substantially all,
of an issue of $400,000 5 per cent gold equipment notes, due
$80,000 yearly from 1905 to 1909, inclusive.— V. 77, p. 2086.
Sheboygan-Elkhart Lake Railway & Electric Co.— Mort
gage.— A new mortgage has been filed to the First Trust
& Savings Bank of Chicago, trustee, as authorizing the
company "to iesue bonds not to exceed $800,000, with which
to complete the line between Elkhart Lake and Sheboygan,
by way of Plymouth and Waldo." The bonds are "first
mortgage 5 p. c. gold bonds" of $1000 each, dated April 1,
1904, and aue April 1, 19S4, but subject to call after April 1,
1919, at 102; interest payable Oct. 1 and April 1 at office of
trustee, or in Sheboygan.
Work it is asserted, will be
begun as soon as the weather permits. V. 77, p. 38.
Southern Indiana Railway.— Bonds Offered.— KiDg, Hodenpyl & Co., New York and Chicago, and Geo. A. Fernald
& Co., Boston, are offering, by advertisement on another
page, at 92^ and interest, $1,000,000 of this railway company's outstanding issue of $4,510,000 first mortgage gold
bonds dated February, 1901, and due February, 1951. A map
of this rapidly developing coal road will be found on page
1703 of our Railway and Industrial Section. A circular
,
—
says in part
The Southern Indiana Railway owns 178 miles of main-line track
and 46 miles of side tracks from Terre Haute, Ind., to Westport. Ind.,
through the best coal fields of Indiana. The oompany also owns extensive terminals at Terre Haute, consisting of about 400 acres of
land, and enters the Union Station in that olty through lease of threetenths miles of traok from the Terre Haute <* Indiana RR. A belt line
9-4 miles in length around the city of Terre Haute is now being completed by the Southern Indiana Ry., whioh enables it to avoid taking
Its ooal trafflo.through the olty and secures for its coal trains connection with all diverging lines entirely beyond the city limits.
The entire road is standard gauge; 96 miles of traok are ballasted
with stone, the balance with gravel, the entire main line from Seymour
to Terre Haute being praotlcally all stone ballast. Rail. 70-lb. lor the
entire main line one and branches, with the exoeptton of three miles,
which is 80 lb. rail; cross ties, oak, and the buildings, bridges and
other structures of modern construction. The equipment has cost
$3,707,284, upon whioh over $2,000,000 has been paid. It oonslsts of
28 locomotives and 5,827 oars.
Fully 95 per oent of the company's traffio originates along its own
lines. There are 30 ooal mines upon the property to which the Southern Indiana Ry. has exclusive access through ownership of its
branches to them. These mines produoe the finest quality of Southern
1783
Indiana soft ooal. and their annual output is estimated at over 1,800,tons, whioh, In view of the development work still In progress, it
Is expeoted will be lnoreased to 3,000,000 tons per annnm.
As the
natural gas Is becoming exhausted in Indiana the demand for this ooal
In that territory is Increasing and the permanency of Its market is beyond question. Coal billed on the Southern Indiana Ry. In oar-loads
of 30 tons eaoh In the years ending Maroh 31, 1903, and 1904:
000
COAL TRAFFIC.
2,298 average car-loads per month
27,577 oar-loads
«
"
"
"
1903-04
49,937
4,161
For the six months ending Maroh 31, 1904, the average production
was at the rate of 5,022 oar-loads per month.
At Bedford, Ind., the oompany has exolusive aooess, through the
ownership of the Belt Line, to the famous Bedford quarries, producing one of the finest building stones In this country. At the present
time there are orders on the books for 2,500 oar-loads of stone, whioh
will yield the railroad from $54 to $60 per oar in freight. The present output exoeeds 5,000 oars per annum.
EARNINGS.
Operating
Taxes and
Interest
Balance
Tears end. Cross
for year.
Mentals.
Paid.
June 30. Earnings. Expenses.
*95,645
*136,7»4
$6,273
$30,253
1898
$4,573
363,895
213,998
34,314
58,352
1900
62,231
352,343
41,673
116,480
119,699
1902
680,195
460,545
50,761
148,839
282,427
942,572
1903
ending
Feb.
eight
months
1904,
the
gross
earn29,
For the
ings were $869,996, against $600,514 in 1902-03; net earnings,
$385,890, against $304,593 in 1902-03.— V. 78, p. 1393, 989.
1P02 03
Tennessee Central RR.— Reorganization.— New Mortgages.
a view to reorganization, the company has filed two
new mortgages, viz.: (1) a prior lien mortgage to the Mississippi Valley Trust Co. of St. Louis as trustee, under which
bonds can be issued at not exceeding $12,500 per mile of road,
amounting on the 308*3 miles to $3,858,750; (2) a general
mortgage to the Mercantile Trust Co. of St. Louis as trustee,
to retire tbe existing first mortgage bonds of 1902, amounting
—With
to nearly $8,000,000. It is said that all, or nearly all, of the
holders of the bonds of 1902 have agreed to the execution of the
prior lien mortgage and to the exchange aforesaid. The proceeds of the $3,800,000 prior lien bonds will provide the funds
necessary for the completion and equipment of the road and
the payment of the floating debt. The carrying out of the
scheme apparently awaits only the sale of the prior lien
issue.— V. 78, p. 1393, 1224.
United Railroads of San Francisco.— Report.— Results
for calendar years
Calen'r
year.
1903
1902
:
Cross
Net
earnings.
$6,249,219
$5,538,«04
income.
13.367,138
2,291.087
Charges
&
Dividend Deprecia tn Bal'ce,
»ink. fund, to invtst. Co. charge,
$1,660,437
$480,000
$167,600
surplus.
$69,201
No comparison possible
The United Railways Investment Co. reports for 1903:
Dividends received, $480,000 expenses, $18,110 net income,
$466,890; dividends paid on pref. stock (3 p. c), $450,000;
balance, surplus, $16,890.— V. 77, p. 1747.
Vera Cruz & Pacific Railway of Mexico.—Sales to Mexican Government— Guaranteed Bonds to be Sold,— Receiver
McLane in the City of Mexico on April 29 contracted with
the Mexican Government to purchase the entire stock of this
road ($5,000,000 common, $2,500,000 first pref. and $2,500,000 second preferred) now owned by the defunct Maryland
Trust Co., on the basis approved by Judge Dobler in Circuit
Court No. 2 at Baltimore on April 5. The contract calls for
a new first mortgage $7,000,000 bond issue by the railroad, to
be guaranteed by the Mexican Government. Of this, $1,000,000 will be used to complete the railroad, $1 ,000,000 to be
reserved for future requirements and $5,000,000 goes to the
Maryland Trust Co.
Frank Gosnell of Marbury and Gosnell, counsel for Re-
•
'
;
ceiver
McLane, says
;
:
NEW PrRST MORTGAGE BONDS.
The receiver will cause the existing mortgage to be oanoeled and the
bonds destroyed. He will also cause the railway oompany to create a new
first mortgage and issue thereunder $7,000,000 of 4 1* p. o. gold bonds,
dated and to bear Interest from July 1, 1904, and maturing on July 1,
1934, but subject to call at par and Interest on and after July 1, 1924,
and at 110 and Interest at any time prior to July 1, 1924. These
bonds will all be of like security or rank, but as to Interest payments
$7,000,000
they will be divided as follows:
(a) Bonds to a total of $4,500,000 are to have interest scaled;
that is, they will bear Interest at 1 p. c from July l, 1904, until
Deo. 31, 1905; 2 p. o. from Jan. 1, 1906. to Deo. 31, 1907; 3 p. c. from
Jan. 1, 1908, to Deo. 31, 1909, and full 4^ p. o. Interest thereafter
until maturity or redemption, (b) Thebalanoeof the bonds, $2,500,000, will bear fall 4^ per oent Interest from July 1, 1904.
ALL FLOATING DEBT TO BE PAID.
The receiver will deliver to the Government of Mexico the total
capital stock of the railway oompany, both common and preferred,
concurrently with the guaranty of the bonds by the Government.
The receiver will nay and oanocl all existing obligations of the railway
oompany, Including the oar and engine trust obligations maturing
after April 1, 1904, and amounting to about the sum of $123,500. Be
will also pay or discharge all floating debt.
RECEIVER TO ADVANCE $1,000,000 TO COMPLETE CONSTRUCTION.
The receiver Is to advance to the railway oompany, for the purpose
of completing tbe construction, $1,000,000 in gold, these advanoes to
begin as the demands of the work may require from and after April 1,
1904, and in return tberefor the reoelver shall reoeive from the Mexioan Government $1,000,000 par value of the full 4^ per cent interest bonds in full payment for all such advanoes.
PAYMENT OP CLAIMS OP MARYLAND TRUST CO.
The receiver is also to accept [In addition to the $1,000,000 par value
of full Interest-bearing bonds above mentioned] $500,000 par value of
full 4*9 p. o. interest-bearing bonds and $4,500,000 par value of the
scaled-Interest bonds, in full payment for all advanoes and olaims of
the Maryland Trust Co. against the railway company and of all
advanoes made by the reoelver to the railway oompany up to April 1,
1904; but the receiver Is to allow $800,000 par value or the $4,500,000
of scaled bonds to remain on deposit for a certain time with the
Federal Government for the adjustment of any unsettled olaims
against the railway company.
BONDS TO BE GUARANTEED, PRINCIPAL AND INTEREST.
The Government agrees, In consideration of the transfer to it of all
the oapital etook and of the $1,000,000 advanced to the oompany by
the receiver, to guarantee the payment in gold of the prlnolpal and
—
THE CHRONICLE.
1784
Interest ot all the bonds hereinbefore provided to be Issued by the railway company as they become due or are redeemed, and to pay all
stamp taxes.
$1,000,000 BONDS HELD IN RESERVE.
The $1,030,000 par valne of the unsoaled bonds remaining of the
total lssne of $7 000,000 after the transfer and delivery to the receiver
of $6,000,000 of bonds as above set forth, are to remain in the onstody
of the trustee under the mortgage and shall be issued by It for the purpose of supplying any deficiencies In the funds provided for construction or for providing for future betterments and Improvements.
SALE TO DATE FROM APRIL
1,
1904.
sale of the property shall be aocepted as taking plaoe on April
1, 1904. and the actual delivery of the stooks oonveylng the ownership will be made as soon after that date as the new bonds oan be prepared and guaranteed. At the pleasure of the Minister of Flnanoe,
the reoolver will cause to be placed on the board of dlreotors two
members who may be nominated to him by tne Minister.
The
See also item regarding Maryland Trust Co. on page 1766.
—V.
78, p. 1168, 1110.
Wabash-Pittsburgh Terminal Railway Co.— New Sec uri
The syndicate which has furnisned the funds to build
ties.
—
the
Wabash entrance
into Pittsburgh
is
about to be
dis-
and will receive securities to be issued by the
Wabash- Pittsburgh Terminal Railway Co. To retire the
solved,
$20,000,000 of syndicate capitalization will be distributed
$18,400,000 of the first mortgage fifty-year four per cent
bonds and $20,000,000 of secoad mortgage fifty-year four
per cent bonds (the entire issue) of the Wabash-Pittsburgh
Terminal Railway and $10,000,000 Wabash RR. common
(not preferred) stock. The authoriz jd issue of first mortgage bonds is $50,000,000, of which, in addition to the amount
issued to the syndicate, there has been issued $6,600,000 to
secure the one-year notes reoently sold. S3e Chronicle
April 80, page 1551.
Sale of Syndicate Receipt. At auction on Wednesday a
$1,130,000 Mercantile Trust Co. (N. Y.) receipt for payment
on account of participation in Pittsburgh-Toledo syndicate,
80 p. c. paid, was sold at par. V. 78, p, 1551, 1448.
Wabash RR.— Stock— Subsidiary Company See WabashPittsburgh Terminal Ry. above.— V. 78, p. 1551, 1448.
Wheeling & Lake Erie RR.— Purchase.— The shareholders
at the annnal meeting on May 4 ratified the purchase of the
properties or the securities representing the properties of the
35-mlle Pittsburgh Lisbon & Western RR. Co. (see page 1690
of Railway
Industrial Section) and of the Lake Erie
Youngstown
Southern Railway Co. The last-nam Q d company was incorporated Nov. 21, 1902, to build from Youngstown, Ohio, to Poland, North Lima, and the limestone regions
of the Mahoning Valley.—V. 77, p. 2392,
—
—
—
&
&
INDUSTRIAL. GAS AND MISCELLANEOUS.
Bessemer Ore Association.— Practically Dissolved.—The
Bessemer Ore Association, which for some years past has
virtually determined the selling price of Lake Superior ores,
agreed at a meeting in this city last week to the following
reductions:
Standard Old Range Bessemer $3 50, as compared with $4 SO during
the previous season; Mesaba Bessemer, $8 25; Old Range non-Bessemer, $2 85; as compared with $3 65, and Mesaba non-Bessemer, $2 65;
as compared with $3 65 last year.
At a subsequent meeting in Cleveland on May 8 the prcducing-consuming interests, like the United States Steel Corporation, while favoring a curtailment of output, insisted
upon producing sufficient ore each for its own needs. The
merchant-ore miners, on the other hand, which last year produced about three-sevenths of the entire output of Lake Superior ore, and which are represented by such well-known
firms as the Cleveland Cliffs Iron Co., Oglebay, Norton
Co., Pickands, Mather
Co. and Corrigan, McKinney &Co.,
declined to accede to any such proposition, which, they as
serted, wonld require them to stand "the entire restriction of
output that the diminishing demand seemed to call for."
The Association accordingly adjourned sine die, leaving the
members to fix their own prices. The "Iron Age" says
At the meeting it was shown that several million tons of ore of the
Bessemer Mesaba grade have been tied up on oontraots running from
two to ten years. The prioes range between $2 75 and $3, or considerably bftlow the price whloh was taoltly agreed upon at the meeting
In New York a week ago.
&
&
:
California Development Co.— Stock.— The "Los Angeles
Times" of Aug. 11 contained an advertisement offering at
90 $400,000 of this company's $1,250,000 stock (par value of
shares, $100). This stock is now off the market, but it is
well to record that the company was incorporated in New
Jersey April 24,1896, and has outstanding $500,000 bonds,
payable in 10, 20 and 30 years. The advertisement said:
The growth of the business demands more cash capital, and In order
to preonre the same without increasing the bonded debt the five
owners of three-fourths of the oapltal stock have agreed to surrender
4,000 ehaies and offer the same for sale to the public the proceeds of
which will be loaned to the company on long time at 6 per cent per
annum for the purpose of paying its iloatlng debt and increasing the
[Vol. lxxviit.
For the year ending July 1, 1904, results estimated were:
Minimum water rents fixed by contraot (from Imperial Water Com7 and
$101,195; Interest receivable, $18,780;
payment on bills receivable, $85,000;
total, $241,475.
Deduct, administration, $25,000; maintenance;
$25,000; all interest, $28,580; dividend. $NO,000; balance, $112,895,
President, A. H. Heber; Beoretary, R. T. Perry, 224 Stowell Block.
Los Angeles. Oal.
Development Co. under
Compare California Power
"Railroads" in V. 77, p. 1745.
Colorado Fuel & Iron Co.— Operation. The special correspondent of the "Engineering and Mining Journal" reports :
(April 16.)— The Colorado Fuel & Iron Co., which for some time past
has only worked Its Pueblo plant on a very limited scale. Is gradually
Increasing operations. The management, at the beglanlne of winter,
feared a coal famine on aocount of the strike, and rather than to have
the people all over the State suffer from this, furnished the public with
fuel at a moderate price from its mines and curtailed its operations at
Bessemer. (April 23.)— La9t week reference was made to the operations of the Colorado Fuel & Iron Co. at the Pueolo plant. Although
the works are not all running at full capacity, every department is in
operation and more than 3,000 men are employed. For some time
past orders for rails for the Missouri Pacific and other railroad companies have been reolred and work on these has started.
The labor situation in the leading coal and precious metal
mining districts of Colorado continues unsettled. At Trinidad, Col., on March 26, the coal miners of District 15, United
Mine Workers of America, consisting of Colorado, New Mexico, Utah and Wyoming, voted unanimously to continue the
panies Nos.
1, 4. 5.
8).
land-sale oontraots, $36,500;
&
—
strike.— V. 78,
p. 1500, 585.
Commercial Telephone Co., San Antonio, Texas.— BondCommittee.—At a meeting of the bondholders at
Wapakoneta, Ohio, on April 29, over $300,000 bonds being
represented, the following committee was appointed to assist
holders'
in straightening out the company's affairs : J. A. Quinsberry of Danville, Ky.; Fred. Bimel of Portland, Ind., and
mortgage to secure $1,000,J. H. Goeke of Wapakoneta.
000 first 6s due Jan. 1, 1922, was made in 1902 to the Territorial Trust
Surety Co.— V, 74, p. 832.
A
&
—
Consolidated Lake Superior Co. Plan Operative. The
reorganization committee,
John W. Moffly, Chairman; William H. Arrott. E.J. Berwlnd, Nicholas Brlce. Simon Oratz, Thomas J. Drummond, Bayard Henry, Samuel
F. Houston, John T. Terry, Wm. Rotch Wlster. OfHoe, Room 1219
North American Building, Philadelphia,
announces by advertisement on another page that the plan
of reorganization dated Oct. 20. 1903 (see V. 77, p. 1296),
has been declared operative. The official statement says in
substance:—
The committee is enabled to take this action by an agreement with
the Canadian Improvement Co. for the underwriting of bo much of
the original $3, v< 0,000 called for as is not taken by stockholders, or
other underwriters, subject to the following conditions.
12,000,000 LOAN GUARANTEED BY THE GOVERNMENT OP ONTARIO.
The Canadian Improvement Co. has secured from the Government
of the Province of Ontario a guaranty of a loan of $2,000,000, to
secure whloh the Government has required that there be deposited
with a trustee all of the stooks and bonds (see V. 77, p. 771,) of the
Algoma Central & Hudson Bay Ry. Co., all the stooks and bonds of
the Manitoulln & North Shore Ry. Co., and the note of the Algoma
Central! & Hudson Bay Ry. Co. for $725,000. due July 1, 1903, Indorsed by the Algoma Commercial Co., Ltd., and by the Consolidated
Lake Superior Co., and secured by mortgage on certain vessels and
shipping property, to be held by the trustee as collateral until the
payment of the loan, whioh matures on May 1, 1906, at whloh time
eald stock, bonds and other securities are to be delivered to the trustee
of the mortgage given by the new oompany to secure Its first mortgage bonds. The Provincial Government of Ontario reoelves as further security the deposit with the trustee of the amount of first mortgage bonds, income bonds and stook of the reorganised oompany,
whioh the sum of $2,000,000 in money would be entitled to receive In
underwriting under the plan of reorganization.
The payment of this loan on or before its maturity, and the return
of these seouritl«s to the reorganization oommlttee or Its suooessor, is
guaranteed by the Canadian Improvement Co., the latter, when payment Is made to reoelve the amount of the first mortgage bonds, income bonds and stook of the reorganized company which have been
so deposited to further seoure the Provincial Government of Ontario,
as stated.
COLLATERAL TRUST MORTGAGE OP REORGANIZED COMPANY.
collateral trust mortgage to be given to seoure the first mortgage bonds of the reorganized oompany will be so drawn that all
equity over and above the lien of the said $2,000,000 on the said bonds
Hudson Bay Ry. Co., and the Manand stock of the Algoma Central
itoulln A North Shore Ry. Co. will be covered thereby, and upon repayment of the loan the collateral trust mortgage will beoome a first
The
A
Hen thereon.
$1,000,000 WORKING CAPITAL ASSURED.
The Canadian Improvement Co. also undertakes that
after all expenses, fees and commissions of the reorganization have been paid, the
new oompany to be formed shall have a clear working oapltal of
$1,000,000 In cash over and above and exolusive of raw material and
pirtially worked-up material on hand; and It has been agreed with
the Canadian Improvement Co. that if, in order to provide snoh cash
working oapltal, It beoomes neoessary f >r the Canadian Improvement
Co. to raise money In addition to the maximum amount of its underwriting obligation, it shall be entitled to reoelve for such additional
sum first mortgage bonds of the new c Dm pany at the prloe of 70 per
cent of their par value.
CLAIMS NOT EXCEEDING $600,000 MAY BE EXTENDED.
The agreement with the Canadian Improvement Co., however, provides that certain seoured claims against the Consolidated Lake
Superior Co. and subsidiary oompanies not exceeding $600,000 In
amount need not be liquidated at present, but may be extended for a
oapaolty of its plant. Theoompany at present is earning about 15 period of three years on the seourlty now held by them.
per ount upon its entire capitalisation. On Jan. 1 next the first diviDEPOSITS, UNDERWRITING, AND ASSESSMENT PAYMENTS UNTIL MAY 17.
dend will be deolared. The basis will be 4 per cent per annum for the
Stockholders who have deposited their stook are required to pay the
first year, after whioh It will be the policy of the company to increase
due by them to the depositary, Fidelity Trust Co., No. 325
It.
The business of the company Is to develop water and sell the balance
St., Philadelphia, on or before May 17, to whloh date the
same at wholesale to other corporations for domestic and Irrigation Chestnut
purposes. The present capacity of the plant supplies 800,000 aore- oommlttee has extended the time within which underwriting may be
such shares may be deposited, provided such deposit Is acfeet of water per annum, which is sold to other corporations at 50 made or
by the full amount of three dollars ($3.00) per share.
cents per aore-foot under perpetual contract. We refer to "From companied
New underwriting will be allowed to a limited extent. Those who
Desert to Garden," a pamphlet published by the Imperial Land Co.,
underwritten and paid 5 per oe-nt will be required to pay 45 per
our general agent, whloh gives a full desorlptton of the enterprise. have
on or before May 17th, and the balance on call. New underThe proceeds of the sale of stock now offered will enable the company cent
writers will be required to pay 50 per cent of their underwriting at
to more than double the present oapaolty of the plant. Another time of subscription on or before May 17, and balance on call.
souroe of lnoome In addition to the sale of water will, when developed, be the water power.
Compare Chronicle of April 30, page 1551.
May
7,
THE CHRONICLE.
1904.]
Detroit (Mich.) Irou & Steel Co.— Status.- This company,
whose new furnace was put in operation about two months
ago, is reported to be operating it to its full capacity and to
have contracts for the entire output until September. A director
is
quoted as saying
:
If we oonld have started operations at the time we expeoted, when
Iron was high, the oommon stock would now be worth more than the
preferred, the latter being limited to a dividend of 7 per oent. As It
happened, the plant cost considerably more than was estimated, and
as the preferred dividend Is cumulative there Is no immediate pros
peot of a dividend on the oommon.— V. 78, p. 991.
East Liverpool (0.) Potteries Co.— Reduet ion of Stock.—
The company has
filed a certificate of reduction of capital
stock from $1,000,000 to $250,000.— V. 72, p. 1190.
East Ohio Gas Co., Cleveland.— New Stock.— This company,
controlled by the Standard Oil Co., has filed a certificate of
increase of capital stock from $1,250,000 to $6,000,000. Com-
pare V. 76,
p. 868.
Eastern Milling & Export Co., Philadelphia.— Foreclosure.
Dallas, in the Uaited States Circuit Court at Philadelphia, on May 4 ordered the foreclosure sale of this property.— V. 78, p. 1112, 832.
first mortgage
Evansville, (Ind.) Glass Co.— Mortgage.
—Judge
—A
was recently made
to Capt. S. P. Gillett, as trustee, to secure $100,000 first mortgage 6 p. c. bonds, dated Feb. 8, 1904,
and due in 1909, but subject to call in 1906 to any amount at
Capital stock
103, denomination, $250; outstanding, $48,500.
authorized and issued, $200,000, all common; par of shares,
$50; interest payable at Citizens' National Bank, Evansville.
The company "owns in fee 8 acres in city limits of Evansville covered by construction with annual capacity of bottles
and table ware of from $800,000 to $1,000,000 annually."
President, Aaron M. Weil; Vice-Pres., F. W. Reltz; Secy,
and Treas., M. L. Mayer.
Gottlieb- Bauern8chmidt-Strau8 Brewing Co.— No Interon Incomes.— Mainly, it is said, because of the great Baltimore fire, from which the company suffered, the directors
passed the interest due May 1 on the income bonds (V. 77, p.
est
1876).
Greene Consolidated Copper Co.—Dividend.— At a meeting
of the directors on May 1 a dividend of 8 per cent was declared, payable May 25, 1904, on stock of record May 10.
The last previous dividend was 2 per cent, paid in May, 1908
(see V. 76, p. 545).
Directors.—The following changes were made:
W. Burohard, H. 8. Black, Frank H. Ray,
Edwin Hawley and John W. Gates.
New Direotors Eleoted. —George S. Bobbins, Epes Randolph, Galen
L. Stone, Gilbert Brooks Pernios and William V. S. Thome.
Exeoutlve Committee.— Alfred Romer. G. 8. Bobbins and Henry
Olleshelmer members to succeed Messrs. Hawley, Ray and Gates.
Status.— President Greene under date of May 2 says:
The production from the mines during April was 5,450,000 lbs. of
oopper, 54,300 ozb. of silver and 550 ozs. of gold, having a total value,
Jackson Iron & Tin Plate
Cananea.
Your company now has an ample working capital, full stooks of goods
for the economical handling of Its badness, and is In condition to show satisfactory and continuous dividends for the future.
—V. 78, p. 1448, 1277.
Houston Oil Co.— Time for Deposits Extended.—-The
Bache Protective Committee has extended the time for the
deposit of the shares of preferred and common stock under
on hand
stockholders' agreement of March 3 to June 1, 1904.
Receivers' Certificates.— Judge Burns, at Houston on April
29, approved the proposition to issue $60,000 of 6 p. c. receivers' certificates.— V. 78, p. 1500, 1895.
its
& Coke Co.— Two Distinct Corporations.—
have recently been incorporated under this
title. One was organized in Montreal, with $4,500,000 authorized capital stock, to own on the Fording River in the Crow's
Nest Pass region bituminous coal lands aggregating some
Imperial Coal
Two companies
Co.,
Clarksburg, W. Ya.Sale—
Securities Trust Co. of Wheeling, W. Va.,
will, as trustee, sell the property of this company at public
auction on May 28 under order of the District Court of the
United States for the Northern District of West Virginia
May 28.— The
—
V. 78,
p. 290.
Lehigh Coal
&
Navigation Co.— Dividend Increased.—The
directors have declared a semi-annual dividend of 8J^ per
cent, payable May 27 on stock of record May 4. This raises
the annual rate to 7 per cent, an increase of 1 per cent
compared with 1903 and an increase of 2 per cent compared
with 1902. From 1891 to 1901 the dividends distributed annually varied from 4 per cent as a minimum to 6 per cent as
a maximum.
Aew Director. E W. Clark Jr. was elected to fill the vacancy caused by the death of E. W. Clark.
New England RR.— See that company
Interest in Lehigh
under "Railroads" above.—V. 78, p. 1552, 1166.
—
&
Mack Steamship Co. of Cleveland.— Bonds. — A mortgage
made to the Detroit Trust Co., as trustee, covering
has been
the new
steel, bulk-freight steamer F. B. Squire to secure
$120,000 of first mortgage 5 p. c. gold bonds of $1,000 each.
These bonds are dated Feb. 1, 1904, and due Nov. 1, 19041915, $10,000 annually, but subject to call on interest dates
(May 1 and Nov. 1) in any amount at bonus of 1 p. c. for
each year yet to rnn. The company was incorporated in
Sept., 1902, with $115,000 capital stock, M. A. Mack being a
director
Manhattan Beach Hotel & Land Co.— Payment of
—The company began paying at maturity on May
1
Scrip.
the prin-
and interest of the $225,000 5 per cent scrip certificates
representing coupons funded in 1894.— V. 62, p. 869.
National Storage Co.— Trust Certificates.—The $5,000,000
of 4 per cent gold trust certificates of $1,000 each, which were
issued under the agreement of Dec. 8, 1899, with interest payable in April and October at the Central Trust Co., were recently extended by the Lehigh Valley RR. Co. under its option for a period of five years from Dec. 8, 1904, making the
time for payment of principal Dec 8, 1909. These certificates
are secured by deposit with the Central Trust Co., as trustee,
of the following securities :
cipal
Deposited
as above.
$1,926,000
2,399,500
$3,854,000
2,400,000
2,000,000
xl 1,642,000
National Docks Ballway stock
National Storage Co. stock
Lehigh Valley BR. mortgage and collateral
trust bonds of 1897
Direotors retired.— Anson
under present price of copper, of $750,490, as against 5,080,000 lbs. of
oopper, 51,000 ozs. of silver and 310 64-100 ozs. of gold for the month
of March. During my last (April) trip I thoroughly inspected the
mines and found that the reoent developments on the lower levels
have exposed the largest and highest grade bodies of ore ever encountered in the Cananeas.
The statement of March operations shows a net profit of $180,The statement included all expenses with the exception of
231.
those of the New York office of freight on oopper from Perth Amboy
to the manufacturers. This item of freight for a period of six months
averaged $0 00087 per lb. oopper. The average selling prloeof copper
during April was 18^ cents. The condition of the copper market is
good; the production is evidently not keeping pace with the lnoreased
consumption. The statement of the Treasurer as of April 30 showed:
Cash on hand, in banks and on call, $612,976; Dae from the United
Metals Selling Co., oopper consigned, approximately, $616,112; total,
$1,229,088. This amount Is in exoess of the oaeh working capital of
the Cananea Company and Is also in exoess of the quick assets at
1785
Total
issued.
x Amount outstanding in hands of public $7,900,000; deposited in
trust as above, $2,000,000; held In treasury. $1,742,000.
The Lehigh Valley RR. Co. owns the entire $3,854,000 stock of the
National Docks Railway, which extends from Point of Rooks, Jersey
City, to Constable Hook, Bayonne, N. J , 83 5 miles, mostly with two
tracks. For the year ending June 30, 1902, the gross earnings were
$184,777; net. $121,629; dividends (3 per cent), $115,620. The Lehigh Valley RB. Co. also owns the entire $2,400,000 stook of the National Storage Co., of which $2,399,500 is deposited as above stated.—
V. 78, p. 1449.
New England (Bell) Telephone & Telegraph Co.—Report.
The
results for the calendar years 1903 and 1902 were
Dividends (6%).
Expenses.
Bal., sur.
Revenue.
$1,297,002
$118,138
$5,277,725
$6,692,865
1,108,726
60,043
4,855,841
6,024,610
76, p. 1141.
:
—
Year
1903
1902
-V.
Nova Scotia Steel & Coal Co.— New Stock.— This oompany
has issued an additional $880,000 of common stock, which
had been under- written, providing a sum exceeding the
amount required to pay off the $799,939 of bills payable and
cash advances for new plant as shown on balance sheet of
Dec. 31, 1903. This increases the outstanding common stock
to $5,000,000. There is also outstanding $1,030,000 of 8 p. c.
preferred stock and $2,448,000 bonds.
Earnings.—The results for the last two calendar years
compare as follows:
Oal.
year.
Interest
Deprec,
on bonds,
s. f.,etc.
Year's
Pf. div.,
Common
Year's
dividend.
surplus.
Sp. c.
1903
$859,398 $150,000 $147,700 $82,400 (6%)$2*6,804 $23z,494
1902
609,935 150,000
85,000 82,400 (5*s) 191,115 101,420
V. 76, p. 970, 976.
Ogden Gas Co., Chicago.— Status. The statement published in our issue of April 23 (page 1501) has been a
little tardily confirmed; the only changes worth mentioning
are that no compensation was made to city in 1897 and that
the amounts expended for construction in 1901 and 1902 were
transposed, the larger amount, $172,919, belonging to the
profits,
—
—
earlier
year.— V.
78, p. 1501.
Panama Canal.— In
Possession.—Formal possession of the
Canal property was taken at Panama on May 4 by the United
88 square miles. O. G>. Laberee, who organized the Inter- States Canal Commission through its representative Major
national Coal & Coke Co. of Coleman, Alberta, is interested Mark Brooke of the United States Army.
Regarding the
in the enterprise. The Preeident is W. Herbert Evans; payment of the
$40,000,000 through J. S. Morgan & Co. to
Vice-Pres., Jas. W. Pyke; Sec. -Treas., Humes Hall. The t e " New Panama Canal
Co." See pages 175 6; also official
International Co., whose stock is stated as $1,000,000, ex- statement in New York "Sun" of May 5.— V.
78, p. 1553, 992.
pects to have 400 beehive coke ovens in operation before the
Pennsylvania Rubber Co., Jeannette, Pa.— Status.—
coming summer,
This
company, incorporated in Pennsylvania in May, 1899,
The other Imperial Company was formed in Washington,
1902,
increased
its authorized capital stock in January,
D. C., on Sept. 18, 1903, with $1,500,000 authorized capital
paid
from
been
has
to
$150,000
of
which
$750,000,
$480,000
stock; it claims to have valuable coal properties in Clearfield
County, Pa., including the control of the Hughes Coal Co., in, par shares $100. The company was formerly located at
at
the Burns Coal Co. and the Mariposa Coal Mining Co. A. F. Erie, Pa., but during 1902 moved to its new factory
short disJeannette,
RR.
a
Pa.,
located
on
Pennsylvania
the
Engelhardt is Treasurer and General Manager; office, 35
tance east of Pittsburgh. The factory site comprises 21
Broadway, New York. Its stock offering was unique, viz:
acres of land, and the plant is equipped with the most modFree at the mines 50 tons of coal with eaeh 100 shares of stock at
air80 cents per share, par value $1, upon which the company agrees to ern machinery for the manufacture of rubber tires,
pay 7 per cent cumulative dividends per annum, payable monthly, brake hose and rubber goods of various kinds, especially in
this ooal to delivered In 10 equal monthly shipments In rotation.
the way of railway supplies. No bonds or mortgage. The
—
THE CHRONICLE.
1786
net earnings for the late fiaoal year, we are informed, were
$46,000, but no dividends were paid, owing to the expense of
moving the plant. Prior to 1903 the dividend rate was 15 per
cent per annum. Herbert Du Puy of Pittsburgh is the President and the largest stockholder; P. S. Wiloox, Vice-Pres.
and Gen. Mgr.; Geo. W. Shively, Sec; H. W. Da Puy, Treas.
People's Home Telephone Co. of Texas.— Mortgage.—
This company, which is constructing a long-distance telephone line from Gainesville to Fort Worth, via Denton, has
executed a mortgage to the Royal Trust Co. of Chicago,
trustee, to seonre $250,000 of first mortgage bonds. Incorporated in Texas on Aug. 14, 1903, with $250,000 of authorized stock, the incorporators including F. B. McElroy aad
S. L. Samuels of Fort Worth and W. H. Jones of Chicago.
Pittsburgh- Buffalo Co.— Listed in Pittsburgh.— The Pittsburgh Stock Exchange has listed this company's $5,000,000
common stock and $1,000,000 preferred stock (par of
shares, $100) and $1,750,000 of its new first mortgage 5 per
cent gold bonds. The total authorized bond issue is $3,000,000, of which $1,250,000, it is said, are held by the Union
Trust Co. of Pittsburgh, as trustee, to be sold at not less
than par for equipment, additional coal lands, etc. Compare
V. 78, p. 1449.
Pittsburgh (Pa.) Joint Stock-Yards Co.— Bonds.— This
company, which was referred to in the Chronicle of April
23 (page 1501) is liable for an issue of first mortgage 6 per
oent bonds of 1894, covering a portion of the property;
authorized amount, $425,000; outstanding, $873,000. These
bonds are due July 1, 1909; interest payable Jan. 1 and July 1
at office of Pittsburgh Trust Co., mortgage trustee, Pitts-
burgh.—V.
78, p. 1501.
—
Pratt Coal Co., Birmingham, Ala.— Acquisitions. This
company, which was incorporated in Delaware in August,
1902, as successor of another company of the same name,
is developing on a large scale its extensive coal properties
(aggregating 14,000 aeres) in Jefferson County, Alabama.
The output of the mines was 197,454 tons in 1902 and 385,807 tons in 1908. The daily output is now 4,000 tons, and as
econ as the Louisville & Nashville completes its Cane
Creek branch (now building) to Littletoo, the daily output
will be raised to 6,000 tons, -* ith the probability that next
year it will reach 8, COO to 10,000 tons.
The company is
authorized to issue $3,000,000 of capital stock, of which
$1,000,000 (all of one class) has been paid in; par of shares,
Bonds outstanding, $150,000.
|100.
T. T. Hillman is
President; Erskine Ramsay, Vice-President; H. E. McCormack, Gen. Mgr., and G. B. McCormack interested.
are officially informed that notwithstanding ourrent reports
the company has no connection with the Ivy Coal Co.,
which, with ooal mines of 3,000 tons daily capacity at Horse
Creek, Walker Co., Ala., was recently re-incorporated as the
Ivy Coal
Iron Co., with G. B. McCormack, President, and
Erskine Ramsay, Vice-Pres.; capital stock, $500,000.
Rochester (N. Y.) Gas & Electric Co.— Plan.— See Rochester Railway
Light Co. under "Railroads" above,—V. 78,
We
&
&
p. 1278, 587.
[Vol. lxxviii.
mortgage bondholders at the upset price of $100,000. The
was subject to the first mortgage of $270,000 and wipes
out the $550,000 third mortgage bonds. Damage suits resulting from fire loss which the plaintiffs claim was occasion ed by the inadequacy of the water supply may delay
sale
somewhat the transfer of the property
The
to the city.
ter intends to issue $350,000 of 4 per cent bonds to
lat-
complete
the purchase, the remainder of the purchase price of 1620,000
being represented by its assumption of the $270,000 first mortgage bonds. The holders of the $550,000 first consols (amounting with interest to $607,652), it is believed, will receive upwards of $600 and interest on each of their $1,000 bonds.
V. 78, p. 587.
United States Steel Corporation.—New Officers.— At the
meeting of the directors on May 3 Henry Phipps was elected
a member of the finance committee in plaoe of Charles M.
Schwab, whose term of office had expired. Robert Winsor,
of Kidder Peabody <fc Co., was elected a director to succeed
his partner, Francis H. Peabody, who resigned beoause of
ill
health.
—
Change in Date of Directors' Meetings. The by-laws were
amended by changing the date of the monthly meetings of
the board from the first Tuesday of the month to the last
Tuesday of the month. Heretofore the question of dividends
has been considered on the first Tuesdays of April, July,
October and January for the quarters ending with the
months of March, June, September and December, this
necessitating action based on an estimate of earnings for the
last month of the quarter.
The change will give opportunity to ascertain the exact figures before the day of the meeting of the board.
Syndicate to Dissolve May 17.— 3. P. Morgan & Co., under
date of May 4, announce that the preferred stock conversion
syndicate will be wound up on May 17. They also call for
the remaining 75 p. c. of the cash subscriptions, less credit
items, which reduce the same to 24*6 per cent, making the
total net cash paid and payable on account of cash subscribed 49'6 p. c. of the same.
sample letter follows:
A
PREFERRED STOCK RETIREMENT SYNDICATE— FINAL NOTICE.
Dear Sir— Referring to our circular letter of Sept. 14, 1903, we beg
to Inform you that we shall be prepared to close the syndicate account
on May
17, 1904.
Your subscription to the syndicate was for $3,750 bonds, of which
amount 80 per oent was payable In preferred stock and 20 per oent In
cash at par and interest.
Having delivered to you on Oot. 1, 1903, a portion of the bonds payable in preferred stook, there remains still to be delivered to you the
balance of such bonds, amounting to $1,000 bonds, ex matured coupons, accounted for below:
On Oot. 1, 1903, we called from you 25 p. o. of your oash subscription,
leaving still due from you 75 p. o. of such oash subscription, which,
with aoorued interest to May 17, amounts to
$564 18
Your share of the amount standing t > the oredit of
the syndloate on May 17, 1904, inoluding interest
at 5 p. o. per annum on the portion of cash subscription paid Oot. 1, 1903, will be
$325 50
To which 1* added the amount of coupons due Nov. 1,
1903 (7 months), and May 1, 1904, on the undelivered portion of bonds payable in preferred stook
5418
mentioned above
379 68
Rochester (N. Y.) Light & Power Co.— See Rochester Light This leaves a balanoe dne from you In final settlement of
$184 50
Railway under "Railroads" above.— V. 76, p. 1033.
for which kindly hand us your oheck on Tuesday, May 17, 1904, upon
of which and upon surrender of your certificate of participaRocky Mountain (Bell) Telephone Co.— Earnings.— As receipt
tion, properly endorsed, we shall be prepared to deliver to you all the
officially reported, except dividends (6 p. c.) and surplus, bonds subscribed for by you in oash, together with the balance
of the
&
approximate:
Oal. year.
dross.
Net.
Dividends.
Bal., sur.
1903
$863,144
$215,043
$134,863
$80.18
1902
707,073
191,819
119,108
72,71'
Total subscribers Dec. 31, 1903, 18,995; increase for year~
5,284; miles of toll-line wire, 15,978; exchanges, 96; capital
stock outstanding, $2,258,400, against $2,200,000 in 1902; no
bonds. George Y. Wallace is President, Salt Lake City.—
See V. 76, p. 923, 488.
bonds payable In preferred stock, as stated above, making total delivery to you at that time of $1,750 bonds. Fractional amounts of
bonds will be adjusted in oash.
(Signed).
The
calling of this instalment of 75 p.
c.
will result in the
immediate issuance of the $17,097,500 of second mortgage
bonds on which 25 p. c. had previously been paid, but which
were held undelivered pending their full payment (compare
V. 77, p. 2089; V. 78, p. 1173). This will increase the outstanding issue of second mortgage bonds to $170,000,000.
Chicago.— Reduction of Stock.—
Betsemer Ore Association, See that caption above. V. 78,
Sanitary Laundry Co.,
This company, which in Jan., 1900, acquired fifteen laundries in Chicago (since reduced by consolidation to eight),
has reduced its capital stock from $1,200,000 to $600,000.
President F. N. Peet is quoted as saying:
We are simply patting our business on a more conservative basis.
We found we were not golngto annex as many laundries as intended
at first, and so made the reduotion In our capital stock.
Shelby Iron Co.— No Dividend at Present.— This company,
which during the past five years has distributed on the average 183^ p. c. yearly in dividends on its $1,000,000 stock, has
decided to husband its resources, owing to the unsettled condition of the iron trade, and not pay the usual semi-annual
dividend. The earnings for the year ending Mar. 81, 1904, it
is stated, amounted to more than 16 p. c. on the stock, but it
was thought best to adopt a conservative policy regarding
distributions.
The company's dividend record showing the
per cent actually paid in each calendar year follows
:
Tear.
) 1890.
Per cent.l 2
1892.
1898.
6
1899.
13
1900.
1901.
8
12
12
value of shares, $100.— V. 74, p. 941.
1902.
16
1903
15
Par
Standard Oil Co.— See Eastern Ohio Gas Co. above.— V.
77, p. 2287.
Structural Steel Car Co.— Sold.— At the auction sale at
Canton, Ohio, on April 30, the building and real estate were
bought in by the Canton Bridge Co. for $29,250 and the ma
ohinery and personal property by C. E. Thomas of the Cleveland Punch Co. for $6,851.— V. 78, p. 1501.
Topeka (Kan.) Water Co.— Sold Under Foreclosure.—This
property was bid in at foreclosure sale on April 22 by President C. F. Street, acting as trustee for the first consolidated
—
—
p. 1558, 1501.
Virginia-Carolina Chemical Co.— Estimate of Exmings
Year Ending June 15, 1904.— An official circular announcing the underwriting of the $6,000,000 new preferred
stock by Blair & Co. says
for
:
estimated that the oompany's operations, inoluding
those of the Southern Ootton Oil Co., the Charleston Mining and Manufacturing Co. and all other subsidiary oompanies, for the ourrent
fiscal year ending June 15, will result in a net profit of
83,350,000
It is confidently
Deduct—
Interest on bonds
Eight per oent dividend on preferred stock
$350,000
960,000
1,310,000
Balanoe
$2,040,000
sinking fund for the bonds is required for the ourrent tlsoal year,
and for the next fiscal year bonds required therefor have already been
provided and paid for out of previous earnings.
The above estimated net of $3,350,000 remains after deducting from
gross earnings not only operating expenses and repairs, but also interest upon bills payable and ourrent obligations, whloh interest has
always been included In operating expenses.
The dividend of $430,000 upon $6,000,000 of preferred stook, now
reoommended to be Issued, will, therefore, offset an almost equal
amount now Included In operating expenses as interest upon bills
payable, so that stockholders. In voting to Issue this additional stook,
will actually decrease the company's Interest charge by approximately
as much as the Increased dividend.— V. 78, p. 1568, 1503.
No
—
Wabash Bridge & Iron Co.— Sale. This company's plant
was recently sold by Frank B. Wilkinson, trustee, to William
A. Reed of Cleveland, O., for f 20,230. A press dispatch said:
The trnstee has reserved material amounting to $10,343, which
will be sold for the benefit of the oreditors, making a total of $30,573
to be realized from the plant.— V. 77, p. 405.
—
May
7,
THE CHRONICLE
1904.]
jgpxrris
<raxt
1787
^otummis.
PHILADELPHIA COMPANY.
TWENTIETH ANNUAL REPORT FOR THE YEAR ENDED MARCH
Office of the Philadelphia Company,
Pittsburgh, Pa., March 31st, 1904. i
The Board of Directors herewith submit their report for
the fiscal year ended March 31st, 1904.
During the year 4 wells were purchased and 100 wells
were drilled, of which 70 were productive of gas, 7 of oil
and 23 unproductive; 3 wells were sold and 21 abandoned,
having ceased to be productive; making the total number of
wells owned or controlled through stock ownership and in
use by the Company at this date, 573.
During the year 33-56 miles of pipe were reclaimed and
141*87 miles were laid. The total amount of pipe lines operated by this company, either through ownership or stock
ownership in other corporations, is now 1,443-19 miles.
This does not include the 142*41 miles of mains of the
Allegheny Heating Company nor the 360*51 miles of mains
Deductions from Income.
)
of our several artificial gas companies.
The company now holds under lease 290,457 39-40 acres of
gas and oil territory situated in "Western Pennsylvania and
"West Virginia. It controls through its ownership of the
Union Gas Company of MoKeesport 398J^ acres, and through
its majority ownership of the Equitable Gas Company 1,140
acres of leaseholds.
The Company has acquired during the year 19,089)£ acres
of productive gas territory. By surrenders of unproductive
and exhausted leases, it has reduced its previous holdings so
that the total increase in acreage during the year is 957
acres.
The Company sold duriDg the year 31,112,614,340 cubic feet
of gas, being an increase of 2,827,511,990 cubic feet, with additional receipts from that source of $608,235 61.
There has been an increase during the year of 6,237
domestic consumers of the natural gas supplied by the Company and the Companies it operates.
The Philadelphia
Company and the Companies it operates supply 48,127
natural gas consumers and the Allegheny Heating Company supplies 14,334 consumers.
The Company has sold during the fiscal year 1,500 second
mortgage bonds and has applied the proceeds partly toward
the construction of the new Brunot Island Power Plant and
partly in advances to the underlying Companies to be used
in improvements and additional equipment.
It has charged off and deducted from surplus, $360,569 26,
being the nominal value of the shares of stock of a number
of street railway Companies owned by the Company.
The operations of^the Pittsburgh Railways Company will
be found in the report of Mr. J. D. Callery, President, here-
with printed.
Accompanying this report are statements
financial condition of the Company.
showing the
For the Board,
J.
H. REED,
Rentals of Leased Oa$ Lines—
Chartlers Valley Gas Company
Union Gas Company
Total Deductions from Income
INCOME AND PROFIT AND LOSS ACCOUiNT-YEAR ENDED
31, 1904.
Net Income
$3,345,765 01
Fixed Charges.
Interest
on Funded Debt
921,481 15
Surplus for Year
Surplus April 1st, 1903
$2,424,283 86
1,991,664 71
$4,415,948 57
Deductions from Surplus.
Dividends on Preferred Stock
$287,238 39
Dividends on Common Stock
1,737,138 75
Discount on Sale of 1,500 Consolidated
Mortgage and Collateral Trust Gold
Bonds.
67,500 00
Value of Capital Stook of Elevated and
Surfaoe Ry. Companies Charged Off
360,569 26
2,452,446 40
Surplus Maroh 31st, 1904, per Balance
Sneet
$4,377,398 75
158,49271
Oil
Total Gross Earnings
Operating Kzpenses
Rights of Way, Rentals and Leases
$4,535,891 46
—
Gas Purchased
Production Expenses
Transportation
&
Distribution Expenses..
and Collecting Expenses
Maintenance Expenses
General Expenses
8elling
Total Operating Expenses
$574,298
229,841
134,065
178,730
72,288
673,'93
198,711
MAROH
$2,061,129 41
5,876 74
Taxes
Total Operating Expenses and Taxes..
$2,067,006 15
Improvements, Betterments, * Extensions, Etc
New Gas Wells
$414,814 59
New Oil Wells
66,542 32
Changing Pipe Lines— OutBide City
130,956 10
—
•
tensions, etc
Net Earnings
Other Income
Dividends on Stoofcs Owned
Rentals of Real Estate and Buildings
Interest and Discount
Miscellaneous
1904,
Gross Earnings
Operating Expenses and Taxes
$11,153,952 55
6,505,632 05
Net Earnings
Other Income
$4,648,320 50
208,014 67
Total Inoome
$4,856,335 17
2,315,206 74
Deduction from Inoome
$2,541,128 43
Fixed Charges:
Interest on Funded Debt
Dividends on Preferred Stock
$1,873,430 19
137,925 00
2,011,355 19
Net Income
$529,773 24
Note.— There have been declared out of this Surplus for the year
Dividends on Common Stocks of the above-named Companies to the
amount of $110,890 50. The Philadelphia Company's proportion of
such Dividends amounts to $110,661.00, and is Included in the item
of " Dividends on Stocks Owned," $1,407,439 63— Income Account of
Philadelphia Company.
PHILADELPHIA COMPANY— GENERAL BALANCE SHEET
MARCH
31, 1904.
Assets.
Gas Wells
Gas Rights
Gas Leases
Meters
Regulators
—
$1 00
15
65
69
5,697,888
477,125
183,543
339.288
120.945
501,676
24,577
35,804
758,269
305,071
34
77
73
57
60
65
$8, 444, 192
26
11
$396,958 01
408,563 06
700,000 00
Total Improvements and Betterm'ts
Tools
Office Furniture and Fixtures
Horses and Stable Equipment
Material and Supplies
Stocks of other Companies Owned
Unexpired Insurance
Bills Reoeiv. Depos. with Trustees Covering
Advances
Construction Fund,
Street
$1,505,521 09
45,00000
14,850 00
5,632 05
220,226 81
41,356,317 05
9,937 84
to Affiliated Co's
3,060,000,00
Mount Washington
Railway Co. (See Contra)
643,180 83
Current Assets—
Total Improvements, Betterments, ExTotal Expenses, Taxes, Improvements,
Betterments, Extensions, etc
318T,
Consolidated Gas Company of the City of Pittsburgh, The
Allegheny County Light Company, Equitable Gas
Company, Braddock Gas & Light ^Company
and Pittsburgh Railways Company.
Total Property and Plant
Improvements and Betterments
Service Connections
Distribution Lines
Brunot Island Power Station
39
61
35
92
17
58
39
$1,963,502 17
COMBINED INCOME ACCOUNT FOR THE YEAR ENDED
Rights of Way
Real Estate
Buildings
Telephone Lines
Earnings—
Gas
131,853 05
Property and Plant.—
Charters, Patents and Franchises
Pipe Lines, Transportat'n and Distrib'n
PHILADELPHIA COMPANY.
MARCH
$60,000 00
17,375 00
567 00
53,869 69
41 36
McKeesport.
Pennsylvania Natural Gas Company
Interest on Current Liabilities
Tenement Expenses
of
President.
Gross
31ST, 1904.
$612,313 01
92,679,319 16
$1,856,572 30
$1,407,439 63
3 162 25
201546 00
8,897 88
Cash at Bank and in Hand
Accounts Receivable
Bills Receivable in Treasury
$1,621,045 76
Total Income
$3,477,618 06
734,245 10
Total Current Assets
1,875,829 11
$57,180,687 04
Total
Liabilities.
Oacital Stock—
Common 579,0606832 10000 shares of $50
eaoh
Total Other Income,
$81,414 04
1,060,169 97
Preferred 114,896*4 shares of $50 each.
Total Capital Stock..
$28,953,029 16
5,744,812 50
$34,697,841 66
,
THE CHRONICLE.
1788
Brought forward
Funded DebtFirst Mortgage Collateral Trust Gold
Bonds, being 5,500 Bonds of $1,000
$5,500,000 00
each, 50 year, 5 p. c
Consolidated Mortgage and Collateral
Trust Gold Bonds, being 13,8l2i7 2 o
Bonds of $1,000 each, 50 year, 5 p. o.. 13,812,850 00
$310,684
23,936
82,606
21,917
115,323
Reserved for Dividend on Pref. Stock...
Accounts Payable
Commonwealth of Pennsylvania
Consumers' Advances
Unclaimed Wages
Sinking Fund to retire Union Gas Co.
CORPORATIONS
Shares
23
04
05
24
f
McKeesport First Mortgage Gold
5,125 00
563,312 38
Mount Washington
Street Railway Co.,
for Construction (See Contra)
Profit and toss —
Balance Credit March 31st, 1904
643,180 83
1,963.502 17
$57,180,687 04
Total
We have
examined the Books and Accounts of the Philafor the year ended March 31st, 1904, and
we hereby certify that the foregoing Balance Sheet and
Statement of Income and Profit and Loss Account are cordelphia
Company
reot.
Haskins
New
York, April
Total
Issue.
Consolidated Traction Co..i
.232,757 Pref. 240,000
Consolidated Traction Co
.
284,249 Com. 300,000
United Traction Co. of Pittsburgh
"
339,998
340,000
"
Chartiers Valley Gas Co
29,8*0
30,000
Pennsylvania Natural Gas Co
"
20,000
19,822
South Side Gas Co
"
20,000
13,639
«'
Equitable Gas Co. of Pittsburgh
13,774
14,000
Equitable Gas Co. of Pittsburgh
4,9<>8 Pref.
6,000
Allegheny Heating Co
2,664 Com.
5,000
"
Consolidated Gas Co. of the City of Pittsburgh. 80.000
80.000
Pittsburgh Railways Co
"
50,000
50,000
Pittsburgh Railways Co
50.000 Pref. 50,000
The Allegheny Countv Light Co
15,000 Com. 15,000
Union Gas Co. of McKeesport
"
16,000
16,000
«'
Southern Heat, Light & Power Co
6.000
6,000
East McKeesport Street Railway Co
"
5,000
5,000
Braddock Gas & Light Co
"
5.000
5,000
Suburban Gas Co
"
2,000
2,000
,
Low Pressure Gas Co
"
1,000
1,000
American Transfer Co
"
1,000
1,000
Manstl eld & Chartiers Gas Co
"
500
500
Duquesne Natural Gas Co
200
"
200
Fuel Gas Co. of the County of Allegheny
'•
200
200
Mifflin Natural Gas Co
'*
200
200
Pittsburgh & Charleroi Street Railway Co
"
200
200
Tarentum Light & Heat Co
"
100
100
Carpenter Natural Gas Co
"
100
100
PennFuelCo.
100
100
Acme Gas Co
Braddock Fuel Co
Acme Fuel Co
&
Sells,
Certified Public Accountants.
(Signed)
Possessed At March 31, 1904, bt thb
pntladelphia company.
Owned.
720 32
Bonds. 30-year, 5 p. c
Total Current Liabilities
SCHEDULE OF CAPITAL STOCK SHARES OF OTHER
Owned and
19,312,850 00
Total Funded Debt
Current Liabilities
Interest on Bonds. Acrued not due
of
$34,691,841 66
[Vol. lxxvih.
Tustin Street Railway Co ...»
The Philadelphia Co. of West Virginia
30th, 1904.
100
100
70
"
70
70
24
"
"
"
"
10
"
70
24
10
PITTSBUR GH RAILWAYS COMPANY.
SECOND ANNUAL REPORT FOR THE YEAR ENDED MARCH
Pittsburgh, Pa., April 20th,
To the President
Gentlemen
and Directors
of Philadelphia
1904.
Company
:
:
The Board
of Directors herewith submit their report for
the fiscal year ended March 31st, 1904.
During the year the following lines have been added to the
system :— The Pitcairn
Wilmerding Street Railway, extending from Wilmerding through Pitcairn to Trafford City,
and the Wilkinsburg & Verona Street Railway, extending
from Wilkinsburg to Verona and Oakmont. The East
McKeesport Street Railway completed a connection in Wilmerding by a long viaduct over the tracks of the Pennsylvania Railroad Company to Airbrake Avenue in Wilmerding,
thus affording a connection through the Turtle Creek Valley
to McKeesport. The Pittsburgh
Charleroi Street Railway
completed the connection between Castle Shannon and
Monongahela City. Through cars are now operated from the
head of Pittsburgh Incline in Pittsburgh to Allenport, a distance of 31-89 miles. The results from the operation of this
line during the fall and winter months indicate that this
railway will eventually be profitable and especially so when
cars can be operated direct from Pittsburgh through Mt.
Washington tunnel and by private right of way to Castle
Shannon.
On this line are ten double-truck closed cars,
equipped with motors, controllers, etc., adapted for high
speed inter urban traffic. The tracks of the McKeesport &
Reynold ton Street Railway have been extended to the Southern limits of Glassport. The Howard
East Street Railway
was constructed to the City limits of Allegheny and the
tracks of the Bellevue & Perrysville Street Railway to West
View. The results from the operations of these railways
during the summer and fall were satisfactory.
The Company during the year has constructed 34-53 miles
of new track and the total track now operated by the Com-
&
31ST, 1904.
shown in the Transportation Department, and is owing to
the increase in wayes to all classes of workmen especially
to motormen and conductors, and to the advanced cost of
coal, which was about 40 p. c. over the preceding year, but
we take pleasure in reporting that, due to competition, we
will be able to purchase our supply of coal at reduced prices
for the coming year. The item of Maintenance of Way
and Structures also shows an increase, which was caused by
ten extensive repairs made upon the system.
Hi
Attached hereto will be found a statement of the operations of the Company for the year ended March 31st, 1904.
Respectfully submitted for the Directors.
JAMES D. CALLERY,
—
President.
&
&
pany is 445-56 miles,
The Company purchased two hundred cars during the past
year, one hundred being closed vestibule motor cars and one
hundred closed trail cars.
The Company during the year has maintained its tracks
in good repair. Several of the heavy traffic lines of the
system were thoroughly overhauled, cast-welded joints being
used, rails straightened and new ties placed at joints. It is
believed that the repairs, while involving a large expenditure,
will add three or four years' service to these tracks.
The Company has maintained its power plants, cars, buildings and equipment in thorough repair. The progress of
construction of the power plant on Brunot's Island has been
slow. Since April 1st, 1904, however, the contractors have
been pushing their work rapidl v, and from present indications
current will be supplied from this plant early in July.
During the year the Pennsylvania Company has completed
the work of elevating its track-* on the main line in Allegheny
which practically removes all of the grade crossings of the
Company in that city.
The Gross Receipts from the operations of the Company up
to January 1st, 1904, show a satisfactory increase. The depression in general business and the closing down of many
of the mills in this district has caused a slight deorease in
between January
1st, 1904, and March 31st, 1904.
in Gross Receipts for the year is -0481 p. c. and
a slight increase in Net Earnings.
receipts
The increase
The extremely severe weather during the winter has
also
affected the receipts as well as increased the Operating Expenses. The principal item in the increase of expense is
PITTSBURGH RAILWAYS COMPANY.
INCOME AND PROFIT AND LOSS ACCOUNT YEAR ENDED
MAR3H
31ST, 1904.
$8,661,394 48
Gross Receipts from Operations
Operating Expenses—
General Expense
Conducing Transportation
$607,735
2,922,431
Maintenance of Way and Structures
405,393
650,166
60,612
Maintenance of Equipment
Parks and Duquesne Garden Expenses....
Total Operating Expenses
Bridge Tolls
Taxes
04
99
48
18
35
$4,646,339 04
118,217 73
422,325 11
Total Operating Expenses and Taxes
5,186,881 88
$3,474,512 60
Net Earnings
Other Income —
$37,71191
Advertising in Cars
Dividends on Stocks Owned
Rent of Buildings and Real Estate
Interest and Discount
Miscellaneous
62 50
65,310 60
17,437 76
17,133 67
137,656 44
Total Other Income
Total Income
$3,612,169 04
Deductions fbom Income.
Rentals of Leased Companies—
United Traction Co of Pittsburgh
$370,785 04
Consolidated Traction Co
757,098 00
Interest on Current Liabilities
150,996 76
Tenement Expenses
14,924 39
Total Deductions from Inoome
1,293,804 69
Net income
$2,313,364 35
Fixed Charges.
Interest on
Funded Debt
Dividends on Preferred Stock—
United Tract. Co. of Pittsburgh.. $150,000
Consolidated Traction Co
720,000
$1,464,440 84
870,000 00 2,334,440 84
$16,076 49
206,961 79
DeHcit for year
Surplus March 31st, 1903
$190,885 30
Bad Acoounts Colleoted
Premium on Bouds Sold
Surplus March 31st, 1904
„
Note.— During the rlsoal year ended March
$224 50
8,353 63
8,578 13
$199,463 43
31st, 1904, the Gross
Receipts from Operation increased $384,829 40 over the
same period
for the preceding year.
Passengers Carried
Oar Mileage...
Earnings per Car Mile
Expenses per Car Mile (including taxes)
Net Earnings Per Car Mile
174,400,055
34,748.836 Miles.
,
$-2532
-1492
-1040
——
.
..
.
May
7,
THE CHRONICLE.
1904.]
(&ommzxtml
2£kc
COTTON.
'Qimzs.
Friday Night, May 6, 1904.
The Movement of the Chop as indioated by our telegrams
from the South to-night, is given below. For the week ending
COMMERCIAL EPITOME.
Friday Night. May
1904
6,
Climatic conditions throughout the country the past week
have been of a more favorable character, seasonable weather
being experienced. The season over a larga area of the
country has been about three weeks late, and this, it is generally believed, has been responsible for the apathy that has
been experienced in a number of lines of trade. Increasing
activity has been reported the past few days. Advices from
the interior have reported fair progress in planting the
spring-wheat and corn crops, and tne winter-wheat and oats
orop have been reported improving.
May
Stocks of Mtrckandise.
Lard
hhds
bags
bags
Tobacco, domestic
Coffee, Brazil
Ooffee, other
Coffee, Java, Ac
mats.
Sugar
Sugar
hhds.
bags, Ao,
hhds.
Molasses, foreign
Spirits turpentine....-
Tar
500
200
5,000
96,559
11,475
10,900
109,455
19,718
225
734
131
bbls
bbls
K«oe, E. I
Bice, domestic
bags
Linseed
bags.
bags.
Manila hemp...,
bales.
bales.
bales.
hemp
Jute butts
Flour
1,845
4,700
21,000
1,800
2J.000
None.
None.
1,410
17,240
1.303
20,974
None.
None.
192,000
None.
None.
99,200
bbls.
Saltpetre
Sisal
7,697
1,807
8,521,187
376,518
107,205
None.
223.672
bales.
bbls.
bbls.
and sacks
1,
this evenins: the total receipts have reached 31,774 bales,
against 40.766 bales last week and 55,415 bales the previous
week, making the total receipts since the 1st of 8ept., 1903,
6,902,115 bales, against 7,373,884 bales for the same period of
1902-3 showiner a decrease since Sept. 1, 1903 of 471,269 bales.
New
5,052
12,083
2,029,432
175,202
120,467
466
337,538
None.
14,900
82,882
22,199
347
2,281
2,000
19,000
NODS
247
1,800
410
Orleans...
Mobile
Pensaoola, Ac.
Brunsw'k, Ac
done
Wed.
Tuts.
Thurs.
Iri.
Total.
1,084
8,504
2,223
322
878
491
8,502
261
4,142
......
•..-••
......
..••••
«••
1,115
2,234
261
18,246
1
2,298
4
950
3
2.507
158
4
170
8,266
3,725
••*
3,266
1,436
285
228
......
......
......
2
2
33
......
......
298
224
1,254
......
......
......
......
......
11
51
Oharleston.. ..
Pt. Royal, Ao.
......
Wilmington
Wash'ton.&o.
20
......
......
......
......
......
......
......
......
732
484
1.002
891
284
16
49
128
44
3,267
4.909
84,774
5
Norfolk
New
132
428
York.
Boston
Baltimore
Phlladelp'a,
Ac
week
Tot. this
24
179
25
5,594
11,514
25
468
190
......
......
116
467
52
126
77
114
6,:533
4.004
N'p'tNews.Ac.
2.420
284
224
1,865
128
260
The following shows the week's total receipts, the total since
and the stocks to-night, compared with last year.
Sept, 1, 1903,
None.
77,200
E sporters have
qaiet.
Mon.
Bat.
Qalveston.
Sab. Pass, Ao.
1902-03.
1903-04.
Receipts
Lard on the spot has been
at—
Receipts
1903.
6,900
1,750
2,365,779
399.109
116,994
None.
281,140
No.
Hides
Cotton
Bosln
1,
1904
tos.
Miy
April 1,
1904.
1789
May
to
6
This
week.
Since Sep.
1, 1903.
This
week.
Stock.
Since Sep.
1, 1902.
1904.
1903.
demand from
refiners has been
practically nothing. „and the
light. There have been no supplies pressing for sale and the
tone of the market has held steady. The close was easier at
7c. for prime Western and 6 25@6*37>£c. for prime City. Refined lard has been quiet but steady, closing at 7'lOc, for refined for the Continent. Speculation in lard* for future
delivery has been quiet, but as there has been no pressure to
eell from packers, the market has held steady; close weaker.
B*r;j OLOSHtO PRICES OB'
Hon
Kat.
652>«
May del'y650
667i*
6-721*
Jalydel'v
682i*
6-85
Sept. del'y
UEU VOTOB23B
6'62)«
655
670
6'77ifi
6-85
647»*
U0
Wed.
Tuas.
CHICAGO
Vh.nv*.
6-57i«
6-70
6-85
l*i
6-471*
6-621*
6-75
Pork has been quiet but steady, dosing at §13 00@18 50 for
mess. Cut meats have been quiet and unchanged, Barreled
beef has sold at lower prices. Tallow has been quiet and
easier at 4J^c. Cotton-seed oil bas been moderately active
and about steady, closing at 29%@80c. for prime yellow.
Butter has been in full supoly and lower. Cheese has been
quiet and slightly easier. Fresh eggs have held steady.
Brazil gradf s of coffee have continued to meet with a slow
The
sale, both j obbers and refiners reporting a dull trade.
Brazil crop movement has increased slightly, Brazil markets have weakened and prices locally have declined, closing
at Q%c. for Rio No. 7 and 7%c. for Santos No. 4. West
India growths have been in full supply, but prices have been
fairly well maintained, closing at 9c. for good Cucuta.
Speculation in the market for contracts has been quiet, and
under selling by tired speculative holders to liquidate accounts prces have declined. The close was steadier. Following are the closing asked prices:
5-50& Aug
May.......
5-800. [Nov
6-160.
Deo
6-25o.
5-650.
Juy
March
_... 645c.
~~
Raw sugar has been in good demand and on light offerings
prices have advanced, closing firm at 3 23-32c. for centrifugal,
96-deg. test, and 3 7-32o. for Muscovado, 89-degr. test. Refined
sugar has been in good demand and firmer, closing at 4'65@
4 -70c, lees 1 per cent cash for granulated in bbls. Other
groceries have been quiet.
Kentucky tobacco has been sparingly offered and prices
have been firm, based on strong advices from the interior.
Seed leaf tobacco has received a fair amount of attention
from buyers. There ha* been a good inquiry for new Cmnecticut Havana seed, and there has been some trading in
1902 crop Wisconsin binders. Samatra tobacco has continued to meet with a fair sale at firm prices. Havana tobacco
has been quiet.
A moderate volume of business has been transacted in the
market for Straits tin, and prices have held to a steady basis,
closing at 27-75@28c.
Ingot copper has been quiet but
June
655c.
.
steadily held at
Sept
Oct
13%@13%?.
6'95o.
6 05o.
i
Lake and 1%918)£q. for
electrolytic.
Lead has been unchanged and steady at 4*60@
4-65c.
Spelter has been quiei and unchanged at 5 20@5 25c.
Pig iron has been quiet and unchanged at $15 00@15 25 for
No. 2 Northern and $13 50@13 75 for No. 2 Southern.
R. fined petroleum has been steady, closing at 8'15c. in
bbls., 10 85o. in cases and 5 -25c. in bulk.
Naphtha has been
unchanged at 12-40c. Credit balances have been steady,
for
,
,
closing at $1 62. 8pirits of turpentine has advanced, closing
steady at 59@59J^c. Rosins have been steadier, prices advancing to $2 85@2 90 for common and good strained. Hops
have been quiet but steady. Wool has been firm. Advices
from the interior report new clips selling readily at htgher
prices.
Galveston.
Sab. P., Ac,
New Orleans
Mobile
Psaoola, Ac.
.
170
194,070
3,266 131,830
3,725 1,109,025
120,760
51
153,737
Savannah..
Br'wlok, Ao
Charleston.
P. Royal, Ac,
1,278
Wilmington.
Waeh'n, &o.
Norfolk
N'portN.,Ac
New
320,568
25
336
453,741
19,311
15,232
28,117
26,232
13.636
3,267
284
224
14,318
62,085
183 527
80,664
1,458
3.952
34 603
387
487,319
22.046
3,348
87
874
2,054
468
455
7,007
2.531
23,063
3.769
3,510
6,164
5.709
6,453
9,046
188
104,514
......
29,989
95,264
40,487
24,234
89,241
20,000
34.774l6,902,U5l 63,515 7,373,384
371.409
York...
Boston
1,365
128
Baltimore.
Phlladel.&o
.
Totals
22,890 2,045,691
7.986
147,609
20,664 2,176,070
520 207,076
1,350 152,976
6,503 1,276,536
789 129,117
210 209,094
334
3
312 329,156
8,M)2 2.304,801
261 100,406
13,246 1,903,035
260
21000
788
3,520
2.292
2,825
1
323,818
In order that a comparison may be made with other years,
totals at leading ports for six seasons.
we give below the
Receipts
at—
Galves'n, Ao.
New
Orleans
Mobile
Savannah
. .
Chas'ton, Ao.
Wllm'ton, Ao
Norfolk
N. News, Ao.
all others...
Tot. this
wk.
1904.
1903.
8,763
18,246
30,876
20,664
1902.
1901.
1900.
1899.
170
520
8,725
6,505
16,469
24,365
168
6,745
51
25
3,267
213
312
469
714
599
378
313
407
102
115
3,348
3762
3.064
1,204
6,451
234
87
628
449
238
408
5,243
5.990
6,128
10,091
6,019
14,002
59,368
75,26u
25,439
62,818
34,-;
74
68,515
28,510
23,756
271
3,698
11,064
8,142
1,768
10,361
23,108
1,090
7,181
728
6902,U5 7373,384 7l9U,810 6925,779 6261,123 8057,187
for the week ending this evening reach a total
of 47,135 bales, of which 31,024 were to Great Britain.
to France and 16,111 to tlie rest of the Continent. Below
are the exports for the week and since Sept. 1. 1903.
Since Sept. 1
l
l
The exports
Export*
from—
Week Ending May 6,
Exported to—
Great
Brit'n.
'Jalveston
Sab. Pass, Ac.
New Orleans..
Mobile
Pensacola
Savannah..
Brmni wick
Charleston
Port Royal....
Wilmington...
Norfolk
N'port N., Ac.
i
France
From
Sept.
Conti- lotal
Week.
nent.
Great
1908, to
France
Britain.
780.21* 816,819
17,115|
3 685
3,625
1,000
1,000
1,769
1,759
8,283
1,
3.268
....
712,129 289,932
36,122 16,308
45,306
181.037
18,691
66.29b
84 901
67,880
1.000
1,850
9.U1
Boston
Baltimore
6,t9l
Philadelphia.
3,938
8.031
2,458
12.196
217.3*4
94,635
51,205
33.94S
87
406
8,988
San Fran., *o_
81,024
Total, 1002-03. 41.420
1.660
5,894
405
|
5.22"
May 6,
1901
Exported to-
a,3u 13,473
7,13a
New York
Total
1904.
Continent.
Total.
711.63;: 1,838.513
72,700
89.815
578,641 1,633.662
6<J,64s
118,078
65,642
124,638
565 867 803,293
7,834
92,125
48,055
43.056
6,850
234,458
200
8,924
4124
3,649
6,105
888.660
25,119
145,547
5.313
36,413
2.946
42,117
308,888
100,748
93,048
36,891
42,144
16,lll| 47.135 2,82(5,168 674,563 2.5*6,248 5.637,965
47 724
P«,-J 6fll 8.709.4-74
736.704 «.H7S,«6»M.32».8M
..
.
.
.
.
'
THE CHRONICLE.
171)0
[Vol,. Lxxviii.
Futures.—Highest, lowest and
In addition to above exports, our telegrams to-nlgtat also
give us the following amounts of cotton on shipboard, not
add similar figures for
cleared at the porti named.
Mew York, whloh are prepared for our special use by Messrs
closing prices at
New York.
We
Lambert
* Barrows, Produce Exchange Buildlna.
OH H3TPBOARD, WOT CLBABKD JOB—
May
6 at—
Btr- Other
&rtat
Britain fr'nee mony. For'an
Voc.it-
il
Hoc*
Total.
COCO
I
New
Orleans.
Galveston.. ..
.Savannah.. ..
Charleston ..
22,000
1,773
932
6,383
1.529
1,238
••••
York....
Other porta
29,235
4,537
""23
Mobile
Norfolk
New
369
551
2,500
4,600
2,500
1,300
"600
800
.
9,781
34,603
2,508
3,952
1,853
86,741
85,484
23
4^600
I
I
I
5,883
7,081
42,195
329,214
I
Total 1903..
Total 1902.
10,744 13,154 13,445 21,419
25,626 15.936 28,318 11,012
8,213
7,836
66,975
88,728
256,843
473,546
I
Speculation in cotton for future delivery has been on a
limited scale only, comparatively little outside speculative
interest being shown in the market. Early in the week tbere
was an easier tendency to prices, July delivery under limited
selling dropping to lS^Slc. Subsequently, however, there
developed a better undertone, and the loss was recovered.
New Orleans interests were reported inclined to be more
aggressive. Reports were current of an improving cottongoods trade in Manchester, and there was a rumor current
to the effect that after the Whitsuntide season Lancashire
mills will resume on full time. The export demand for cotton, it was understood, was improving, and shipments to the
United Kingdom and the Continent show a slight increase.
The movement of the crop continued small, the amount of
cotton in sight for the week showing a considerable decrease
as compared with the corresponding week last year. These
developments had a tendency to create nervousness on the
part of ehorts and they became fair buyers to cover contracts, wbich helped to strengthen prices. Owing to the wide
differences in prices existing between the summer deliveries and those for the new-crop months, there has been a
moderate amount of selling of the former and buying of the
latter on the theory tbat prices will come closer together.
To-day the market opened higher, reflecting stronger advices from Liverpool, Put under profit-taking sales most of
the advance was lost. The close was easy, with prices 6
points lower to 2 points hightr for the day. Cotton on the
spot has advanced, closing at 13*90c. for middling uplands.
The rates on and off middling, as established Nov, 18, 1908,
by the Revision Committee, at whloh grades other than
middling may be delivered on contract, are as follows.
Fair
Even
.o. 1*30 on Good Middling Tinged ..o.
0-96 on Strlot Middling Tinged.... 006 off
Middling Fair
0-12 off
Strict Good Middling...., 0-62 on Middling Tinged.
Good Middling
044 oh Strlot Low Mid. Tinered... 034 oil
0-50 of
Strlot Low Middling
014 oft Low Middling Tinged.
Low Middling
Good Ord. Tinged... 0'84 off
Middling Stained
050 ofl
Good Ordinary
.. 1*00
Strlot Low Mid. Stained... 1'06 oil
Strlot Good Mid. Tinged.. 080 on Low Middling Stained..... 1'50 ofl
On this basis the official prices for a few of the grades for
the past week— April 80 to May 6— would be as follows.
Strict
0*38 off Strlot
Good Ordinary ..... 072
UPLANDS.
off
off
Sat.
Good Ordinary.
Mon Tne» Wed Th.
Frt.
12-65 1265 12 70 12-80 1280
13-27 13-17 13-22 1332 1342
13-65
1380 1390
J3-85 14-09 1355 1370
l*-29
la 99 14-14 l«i-24 14.-34
14 51 1461 14-51 14-66 14-76 14-86
1285
1347
Low
Middling..
Middling
Good Middling.
Middling Fair..
GULF.
Sat.
mon Tues We*
Th. Frl.
Good Ordinary,
1310 1290 12-80 12-95 1305 1315
l/ow Middling..
13-72 13-52 13-42 13-57 13-67 13-77
Middling
Good Middling
Middling Fair.
1410 1390 1380 1395 14 05 1415
14-54 14-34 14-24 1*89 14-49
1506 14-86 14-76 14-91 1501
STAINED.
Sat.
Low
Middling
Middling
8triot Low Middling Tinged...
Good Middling Tinged.
Hon Tues
1469
1511
'Wed Th. Frl.
12-35 12-15 12 05 1220 1230 12-40
13-35 1315 1305 13-20 1330 13-40
13-51 13-31 13 21 13-36 13-46 13 56
13-85 13-65 |l3-55 13-70 13 SO 1390
for middling upland at New York on
each of the past 38 years have been as follows,
The quotations
May
6 for
1904.. ..0.13 90
1085
1903
1902
1901.
90s
88ia
..
1900
1899
1898
.
9\
6>i 6
1896. ...o. 8&a
1395
1894
.
6l3, fl
7*4
1893...... 7i-,,
1892
7<s
te
1891.__ 8?8
1890.._12
;
18S8....0l0li 6
10iBj a
96,8
1887
1886
1885
1884
1888
1882
1881
10iS lft
1134
11
1330....o.lll3 16
1879
12»a
1878......1088
11*8
1877
12»«
1876
1875...... 16*8
6*u
1214
17*
1874
1897.
19>*
.. 70s
1889
113,8
10»ie 187S
Notr.— On Oot. 1, 1874, grades of cotton as quoted were ohanged.
Aocordlng to the new classification Middling was on that day quoted
•so. lower than Middling of the old classification.
UARKKT AND
Spot Mark»t
Oixwbd.
Saturday
Monday.
Tneaday
SALES.
FUTUBM
MABKBT
Olosbd.
Quiet. 10 pta. ad. Kasy.. .......
«niet, 20 pta. do
. .
Unlet, 10 pta.de Steady
Wednesday Unlet, 15 pta. ad. Quiet
Thursday.. Bt'dy. lOpta.ad H'rly steady.
Quiet. 10 pta. ad. Easy
.
8aL»s on Spot
vort.
00Ktump.
a-
uohtv *
09Htract.
Total.
1,673
1,673
693 15,300 15,893
613
613
. .
2,135
1,673
51ft
l.ioo
2,136
1,618
42
•00
642
8,901 16,900 22.474
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toco
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ac-a
9
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d
9
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COM
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I
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I
9
MW
COCO
5
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coco
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a
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coco
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to
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9
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003
M«a
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eoco
tOtO
ecco
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coco
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a.
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sill
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1
coco
bOtO
coco
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27,073
2,107
ecco
cc*.
Total 1904..
551
ecu
I
154.29?
Mil
1
o
I
*
en
COCO
OA
coco
c*eo
I
CO
coo
coco
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9
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eo
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06<l
00
^
19
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dies
,
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9
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CD
Thb Visible supply of uotton to-night, as made up by
mble 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,
Sut to make the total the complete figures for to-night
(May 6), we add the item of exports from the United States,
including in it the exports of Friday only.
1904.
1903.
1902.
1901.
gtoek at Liverpool—^, baiee. 555,090 686.000 1,032,000 758,000
Stoeh at London..^. ..........
9,000
8.000
8,000
8,000
Stock at Manchester....
56.000
45.000
Total Great Britain stock. 620,000 739,000 1,040,000 766,000
Stock at Hamburg
22.000
17.000
17,000
20.000
wack at Bremen
280,000 315,000 179,000 226.000
Mock at Antwerp ....... ...
4.000
4,000
5.000
6,000
gtook at Havre..~ ..— .... „- 188,000 209,000
192,000 171,000
•took at Marseilles.... .
2.000
.„
3,000
8.000
3.000
ttook at Barcelona. . ..........
21,000
40,000
47,000
32,000
Qtoek at Genoa
38,000
21,000
36,000
37,000
4.000
10.300
5,000
12,000
ttoek at Trieste . ._„ .._ mmmm
Total Continental atooka . 560,000 638,000 457,000 503,300
Total European stocks.^.1 ,180,000 1,332,000 1,507,000 1,269,300
nsdla eotton afloat for Burope 249,000 157,000 110,000
104,000
Amer. cotton afloatf or S'rope. 192,000 199,000 237,000 354,000
r
41,000
37.000
Hgypt.Braall,<bo.,aflt.for £ pe
23,000
51,000
79,000 147,009 171.000
Stock in Alexandria, Egypt... 182.000
Stock In Bombay. iDdla....... 423.000 718,000 572.000 561,000
Stock in United States ports.. 371,409 323.818 562,274 571.846
Stock in U. B. Interior towns.. 196,946 144,634 238.628 449.800
8,6-11
16.601
8.992
2,907
United States exports to-day..
5 820.262 3,066,053 3,423.889 3,529.577
Total visible supply
Of the above, totals of Amerioan and other descriptions are aa follows
__
—
—
American—
442.000
58,000
492,000
192.000
United States stock
...... 371.409
United States interior atooka. 196.946
Liverpool stock
bales.
Manenwter
stock.......
Continental stocks...... ._.«.
American afloat for Burope. .
603,000
45,000
572,000
199.000
823,818
144.634
16,601
909,000
632,000
423,000
237.000
562,274
238.623
8,992
440,000
354.000
571,846
449,800
8.631
2,907
amtedStateaexporta to-day..
Total Amerioan
1.753,262 1,904,058 2,378,889 2,456.277
Matt Indian, Brmmil, 4e.—
126.000
83,000 123,000
113.000
8.000
8,000
9,000
8,000
63300
14,000
68.000
66,000
Continental etocke
249.000 157,000 110,000 104,000
India afloat for Burope..
37,000
41.000
23,000
51,000
agypt.Braall.Ae., afloat
79,000 147,000 171,000
atook In Alexandria, Egypt... 182,000
423,000 718,000 572,000 584 000
Stock In Bombay. IndU
Baet
Aa
1,067,000
1,162,000 1,045,000 1,073,300
Total
India,
1,753,262 l,9O4,05S 2,373,889 2,456,277
Total American. ....
Total TlBlble aapply._2,820.262 3,066.053 3,423.889 3,529.577
4ii S 2d.
5-62d.
S^d.
SUddllng Upland, Liverpool..
_7-76d.
13-900.
11-150.
9*80.
Middling Upland, New fork.
0-M808H t ad.
6»8d.
eiBi-d.
Bgypfl Good Brown. Liverpool
9Hd.
73,«d.
7d.
8'60d.
Pern v. Bough Good, Liverpool 10-aod.
6i3 18 d.
4'8 d.
* asd53 16 d.
Broach Flue, Liverpool..—
4iB lfl d.
5i 16 d.
4ii 6 d.
6» la d.
rianevell'r Good. Liverpool...
Noii.-An estimate of Manchester atook for 1908 now Included.
The above figures for 1904 show a decrease from last week
of 71.863 bales, a decline of 245,791 bale* from 1903, a decrease
of o03,o27 bales from 1902 and a loss of 709,315 bales from 1901.
Liverpool atook
mmmmm
London ateek
__
.
.
May
•
:
At the Interior Towns
movement— that
the
the
is
since Sept. 1, the shipments for the
receipts for
week and the stocks to-night, and the same items for the
corresponding period of 1902-03 is set out in detail below.
the week and
—
'
m
*§
^ -. o — ^*
bIC
o zr
?
^r3w
=• 5 — a S^~
On».B
£"
~CT O
o » E? O"
^O
o>
*-.
»-*
.
g-B g £*> 2
fi
C
——
"2
Q
—
Quotations for Middling Cott ">n at Other Markets.
Below are closing quotations of middling cotton at Southern
and other principal cotton markets for each day of the week.
>
B
a
G
al
g!
o
>-i
KB. gl
:»•
2
?!
.*
O
.es
Baltimore...
Pbiladelph'a
Augusta.....
GO
a>
H
•
•
•!
oi;
OD
05-
:
Memphis
Houston ...
Little Rook
MM(0 M «e*
*»
a
CD
(K
U
(O
MMMCKCOib.— COtO^ltOOOMCCUlfcOMeOtOeOM; COMlOOOtO
•
!
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:
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.
»M©tOM
-8
MM
M
M ibembcoco»jto©©cx>©M
b3
M
o «jib.M-aeoMMtaMMMco©~ae*©«jo«>b.eD
o <j:cto»j~j©aooi ©_t. co «> ©_co © ao to ao *- 05 co «• © w_ic co «o eo *. 00 ao w ac
CO
<l
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09
toto-
H
CO
ib.
V M
OlCO
;
©en.
©«!•
1r>
tOOe*MCO©©MC*
ib.
»-COMCO
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01
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-qnCOlb.COaOtO'-'OaOtOCOib.CXllO-JWtOaOCOOaOlb.yiCOCTiMMOl
to
to
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00COt0lb.<IC0a0*.l»CD-J©O't000CO©Mt000.
May-
i*
1
i*
«»;
to
j
ac
<d
13%
13%
13-85
14 00
13-90
13-65
13-55
1400
1400
1400
1410
13%
14
1376
13'8
14
13%"
13%
13k
1319
13-80
1308
138s
13-95
13%
13k
13%
13k
13k
14
13k
13k
14
Louisville
Montgomery.. 13 "g
14
Nashville
Natchez
\Z&%
Raleigh..
13k
Shreveport
13 "a
1
©<i*^; ^j««w; *
tO tO CO tO OI
Cil-'^O'
lb. •
.
Closing..
to
M to
to
00
M «4
to
to
MOD
MC0t000t0MCO^t0©M©O'C0»-'l-3©C0M lb.©WCDCO0DlOT»CO©tOM §
»1 *9 ©00 -o If M © © OS *> Wjb^O CO «i W^>» » M © COjf 00 W *. M © CO ^1 <) jj «^|
V'co'bo©\o©\o'cE'b«'©oo'ib'o«'eo 00V «V'cbVix©a3lo©Mbilo^c>»tf>cn'ooi
l
TS
ST
,
Monday, Tuesday, Wed 'day, Thursd'y Friday,
'
'
May
2.
Mvy
3.
May
4.
l
ao
Co
*-
to
1
©oo; *> "loot vi bile ©09 cow:
toco>]MCOib.coocc©©!
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M
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CJI
ib.
to © to
<i
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co m gd <s eo
lbos>-MM
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©
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f
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.
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0**8 OS CX CO
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00
ib.
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c*©m
CO
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00
August—
ft
:
fecc
©to
=
The above totals show that the interior stocks have decreased during the week 17,693 bales, and are to night 52,312
bales more than same period last year. The receipts at all the
towns have been 34,197 bales teas than same week last year.
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
The results for the week ending
reports Friday night.
May 6 and since Sept. 1 in the last two years are as follows.
1903-04.
May
6.
Since
TTe«fe.
Sept. 1.
190203.
Week.
Since
Sept. 1.
—
Shipped
Via St. Louis........
Via Cairo
Via other routes,
............
1,415
130
647
107
899
<&o......
488.701
243,340
13,513
114,508
31,039
193,341
10,375
2,336
20
3,387
642
2,397
706,499
201,968
29,550
147,731
35,803
251,416
May
6.
13-20--3312-99--09 12-92-00 1303-12il301--28 13-22--42
I12-99-001303-04T3-25--26 13-20--21
OCTOB'R—
Range 11-23--33 1110-16 11-06-16; 11-10--20
Closing.. ll-23--24:illl-12 11-15--16 1110-11
Dec'bek—
Range 1110-19 10-98-05 10-92-01 10-96-06
Closing.. 1110-11 1097--98 11-01-02 1096--97
Qulet.
Spot...
Options B'rly sfy
cc'eoMOM©rf».<i as wiMlb.eoei'<»'if©» 'i^MoocoVi'to OitOMODM; *: «
to©^oib.oo©a»eo©"»©©N>eo©ib.uo*.«<co^©ib.oDcoar>c*ibK><iM Bojp
cotoib.ODoiMCT©ib.coo<eOMtOM<i©MtJ<M(yi©aMcoib.cotoib.io©co«i S
'
Closing.. 13-20--21 13-00
Tone—
•
5.
14-07--22 13 82-00 13-75--90 13-95--11 13-92--27 1418--42
;13-85--87 13-89--90|13-97--98il4-25--26 14-18--19
.
-1
May
1407
.
»o©M»».Maoib.MODtoif.toeotccou3>-©mcor-ODec ib.aoooib.ib.ee to o©i
«i ODcococototo~icoeoco*.MCo»>-'Oo^M©ib.ib.coib.»jco©ec<ai«cDo<©to
I
13 68--ft3'l3-45--58 13-41--52jl3-57-'73 13-58 -92 13-95-02
.
11360--62 1388--89 13-81--83
Closing.. 13C8--70 13-46- -47 1351
Range
-a
14
13-75
.
Range
',
oooshh;
"coto
14
13*8
Range
July—
to;
00
m»om en 00 m 00 eo ib cow to;
eoaM©^cotoeooco©to©o©o<©: m
co
13 «8
Apr. 30.
Sis
Ib.lb.t0©
§01Mto©COM©^J>-CnO«COtO©©©COl*-0©ib.|f'tOCOlb.aotaCJ»©©C^OD ©09
©!^©©I^C0l^.0000©©t0WM00©C0Oia0©lb.©M©©C0t0©|b.O©CB'
"&.'.
13»8
Sat'day,
5
C7>
133i
13%
New Orleans Option Market.—The highest, lowest and
closing quotations for leading options in the New Orleans
cotton market the past week have been as follows.
,W
,M
M
M
©
M £ CH» lb » N) tO I* MM tOffi M "tO
CO
©
McnMOaao'MMTDoicoiJ'-Miooi©^
ib.tocoeoi^
w
(^.oco©o>w ~i©ts©~>co«3w»3co©«acooi©©w©^j©
CO
CO
13%
.
tototoeooitoco»oeo©©to-aoo«aoJ«aifc>©W©0'eoco©M©©©coto©
CO
13"i 6
13<«8
Atlanta
Columbus, Ga. 13
Columbus, Miss 13 k
o»ww.^*©©Aeoeo>b.aococj>Mcoe>i©«i>&-toaocoMeooioib.aooo©©oi
J
•
lSBa
136a
The closing quotations to-day (Friday) at other important
Southern markets were as follows.
«
<i^©"^^brto"a*"Meoca"eo*«^©©MwroM©V|M«loeowlb^^©©
eo;
coi
13<>8
13?t
13%
13%
13%
Savannah
..
Monday. Tuesday. Wed' day. Thursd'y Friiay
Sat' day.
14
13 78
St. Louis....
:
CLOSING QUOTATIONS FOB MIDDLING COTTON ON-
Galveston.
New Orleans
Mobile
Charleston
Wilmington.
Norfolk
Boston
>
"5
"Se-
H
O
55
6.
\
B
a
Q
as
May
aBS
l—
Ht»C2g
:
es
°§B 5&
I
©
<
a
M
a
fO
^
©
1791
Week ending]
2KK
gse
x
.
THE CHRONICLE.
1904.]
7.
—
;
.
>
I
Easy.
Quiet.
Quiet
Firm.
Firm.
Steady.
1111--23 1117--29
11-20--21
1117-18
10-97-09 110^- •14
1106--07 11-03- 04
Steady.
Steadv.
Steady. B'rly st'y
Weather Reports by Telegraph.— Advices to us by
telegraph from the South this evening are as a rule of a more
favorable character. While there are still some complaints
of cool weather hindering germination and growth, many of
our correspondents' reports denote that the temperature
has been more satisfactory. In a few sections dry weather
has prevailed, and moisture is claimed to be needed, but rains
have nevertheless been quite general and beneficial, although
declared to have been excessive in some portions of Texas.
Planting, where not already finished, is rapidly approaching
completion.
have had heavy rain on three days
Galveston, Texas.
during the past week, the rainfall being four inches and
three hundredths. Average thermometer 70, highest 78 and
lowest 61.
Abilene, Texas.— It has rained lightly on three days of the
week, the rainfall being seventy- two hundredths of an inch.
The thermometer has averaged 68, the highest being 86 and
the lowest 50.
Brenham, Texas.— We have had excessive rain on five days
during the week, the rainfall reaching six inches and four
hundredths. The thermometer has averaged 71, ranging from
—We
58 to 83.
Corpus Christi, Texas.— Rain has fallen heavily on four
days during the week, the rainfall reaching four inches and
1,977
83,217
3,851
189,974 ninety- two hundredths.
The thermometer has ranged from
501
30,215
44,011
2,524
2,411
85,938
754
52,796 54 to 86, averaging 70.
Cuero, Texas. There has been heavy rain on five days
Total to be deducted.....
4,889 199,370
7,129 286,781 during the week, the precipitation reaching four inches and
Leaving total net overland'
11,091
885.072 12.028 1,086,186 five hundredths. Average thermometer 74, highest 87,
lowest 60.
* Including movement by rail
to Canada.
Dallas, Texas. There has been excessive rain on four
t Deficit in net overland.
days
during the week, to the extent of five inches and twentyThe foregoing shows that the week's net overland movement
eight
hundredths. The thermometer has averaged 69, the
this year has been
bales, against 12,028 bales for the
week in 1903, and that for the season to date the aggregate net highest being 88 and the lowest 55.
Henrietta, Texas. We nave had beneficial rain on three
overland exhibits a decrease from a year ago of 801,114 bales.
days of the past week, the rainfall being two inches and fifty
hundredths. The thermometer has averaged 72, ranging
1903-04.
1902-03.
In Sight and Spinner $'
from 55 to 88.
Takings.
Since
Since
Huntsville, Texas.— Rain has fallen excessively on five days
Week.
Week.
Sept. 1.
Sept. 1.
during the week, the rainfall being six inches and one hunReceipts at ports to May 6
34,774 6,902,115 68,515 7,373,384 dredth. The thermometer has ranged from 57 to 86, averNet overland to May 6
tl,691
885,072 12,028 1,086,186 aging 72.
Southern consumption May 6...
42,000 1.461,000 41.000 1,451,000
Kerrville, Texas.— Rain, has fallen beneficially on three days
Total marketed.
75,0839,248.187 121,543 9.910,570 of the week, the rainfall being one inch and sixty-seven hunInterior stooks in excess
* 17.693
185,344*25,411
81,556 dredths. Average thermometer 68, highest 87, lowest 49.
Lampasas, Texas. It has rained beneficially on four days of
Came into sight during week. 57,390
96,132
Total in sight May 6
9,992,126 the week, the rainfall being two inches and ninety-nine hun9,488,531
dredths. The thermometer has averaged 69, the highest beNorth, spinners' tak'gs to May 6
3.218 1.993,264 34,042 1,988,962
ing 85 and the lowest 52.
* Decrease during week.
f Deflolt in net overland.
Longview, Texas.—Rain has fallen beneficially on five days
Movement into sight in previous years.
of the week, the precipitation reaohing one inch and eleven
«
Bales.
hundredths. The thermometer has averaged 62, ranging from
Since Sept. 1—
Bales.
.JT^n
- a
68,240 1901-02—May 9
y ,9
9,683,708 56 to 85.
J22? ?Jay
82,338 1900-01-May 10
9,469,036
J2°i~^
Luling, Texas.— Rain has fallen heavily on four days dur1900-May 19
11
47,713 1899-00-May 11
8,500,618
1899-May 12
78,750 1898-99-May 12
10,510,441 ing the week, to the extent of four inohes and twenty-four
Total gross • verland
3,198 1,084,442
19,157 1,372,967
Deduct shipments—
Overland to N. Y., Boston, Ac..
—
.
—
—
—
.
THE CHRONICLE.
179^
[
Vol. lxxviii.
May 5, '04. May 7, '03.
hundredths of an inch. The thermometer has ranged from
17-2
46 to 85, averaging 70.
180
New Orleans
Above zero of tjauge.
23-8
31-5
Above zero of gauge.
Paris, Texas.— We have had rain on two days duriDg the Memphis
7-0
12-4.
Above zero of gauge.
past week, the rainfall being one inch and fifteen hundredth?. Nashville
3-9
8-0
zero of gauge.
Shreveport
Above
46.
lowest
and
Average thermometer 65, highest 84
44-5
4 3-9
Abo ve zero of gauge
Vlcksburg
Palestine, Ttxas.—It has rained on three days of the week,
India Cotton Movement from all Ports.— The receipts
the rainfall being three inches and ten hundredths. The
thermometer has averaged 65, the highest being 82 and the of cotton at Bombay and the shipments from all India ports
for the week ending May 5 and for the season from Sept. 1
lowest 56. April rainfall five inches and two hundredths.
to May 5 for three vears have been as follows.
beneficial
rain
op
been
has
There
Texas.—
Antonio,
San
four davs the past week, the rainfall reaching one inch and
1901 02.
1S02-03.
1903-04.
The thermometer has averaged 74,
seventy-six hundredths.
—
Receipts at
Since
Since
ranging from 58 to 90. Month's rainfall three inches and
Week.
Week.
Week.
Sept. 1.
SepL 1#
Sept. 1.
twenty-five hundredths.
Weatherford, Texas.— Rain has fallen on three days during Bombay.
G 5, 000 1,721,000 61.000 1.99 7 ,000 50,000 1.88P.00O
the week, the rainfall reaching two inches and sixty-eight
Since September 1.
For the Weik.
hundredths. The thermometer has ranged from 55 to 88,
Exports
averaging 77.
ContiGreat
ContiOreat
from—
Total.
Total.
nent.
Britain.
nent.
Britain.
New Orleans, Louisiana.— Rain has fallen on one day of
the week, to the extent of one inch and ninety-nine hun- Bombay—
dredths. Average thermometer 70.
P 2,000
711,000
793,000
19O304.
3,000 36,000 39,000
626,000
66 000
692,000
1902 03..
39,000 39,000
Shreveport, Louisiana.- Rain has fallen on two days of the
367,000
372.000
5,000
1901-02..
31,000 31,000
week, to the extent of thirty-niae hundredths of an inch.
Calcutta The thermometer has averaged 69, the highest being 83 and
2IS.000
3.000
28,000
1,000
1,000
1903 04..
the lowest 54. April rainfall, three inches and forty-five
hundredths.
We
Vicktburg, Mitsissippi.— Conditions are favorable.
have had rain on one day of the week, the precipitation being
Average thermometer 69,
seven hundredths of an inch.
highest 84, lowest 54.
Meridian, Mississippi.—The weather has been dry and the
nights cold, and orops are therefore backward.
Columbus, Mississippi.— We have had no rain during the
week. The thermometer has averaged 63, ranging from 51
to 75.
Leland, Misiusippi.—We have had rain during the week,
the rainfall being one inch and fifty-six hundredths, Tue
thermometer has ranged from 42 to 82, averaging 64-4.
Little Rock, Arkansas.— Planting is virtually finished and
the weather is good. We have had rain on one day during
the week, to the extent of forty-five hundredths of an inch.
The thermometer has averaged 69, ranging from 55 to 82.
April rainfall three inches and sixty- eight hundredths.
Helena, Arkansas.—The weather has been warmer latterly
and good for farming interests. It has rained lightly on two
days of the w«ek, the rainfall reaching sixty- one hundredths
of an Inch. The thermometer has ranged from 50 to 82, averaging 68 -5. Month's rainfall one inch and sixty-five hundredths.
Memphis, Tennessee.—The weather conditions have im
proved greatly over last week and planting is active. The
river is thirty-one and five-tenths feet on the gange and
There has been rain on two days during the week,
rising.
the precipitation reaching one inch and thirty-eight hundredths. Average thermometer 67'6, highest 82*8, lowest 49.
April rainfall three inches and seventy-nine hundredths.
Nashville, Tennessee. Rain has fallen the past week, the
The therrainfall being forty-nine hundredths of an inch.
mometer has averaged 63, the high* st being 80 and the lowest
April rainfall two inches and thirty-five hundredths.
46.
Mobile, Alabama.—The weather has been dry and cool in
the interior and the condition of cotton is not satisfactory.
There are complaints of slow germination and growth and
irregular stands. We have had rain on two days of the past
week, the rainfall being thirty-two hundredths of an inch.
The thermometer has averaged 68, ranging from 51 to 80.
Montgomery, Alabama. The weather has moderated considerably, but rain is needed. Dry here all the week. The
thermometer has ranged from 49 to 81, averaging 68. April
rainfall one inch and eighty-two hundredths.
Selma, Alabama. Moisture is needed to insure stands.
There has been no rain the past week. Average thermometer 71, highest 82, lowest 61).
Madi&on, Florida.— There has been slight rain on one day
of the week. The thermometer has averaged 69, the highest
being 84 and the lowest 54.
Augusta, Georgia. The crop is about starting.
It has
rained on one day during the week, to the extent of twelve
hundredths of an Inch. The thermometer has averaged 68,
ranging rom 47 to 83. Month's rainfall one Inch and sixteen
hundredths.
Savannah, Georgia. We have had rain on one day during
the week, the precipitation reaching forty-seven hundredths
of an inch. The thermometer has ranged from 52 to 79,
averaging 67. April rainfall thirty five hundredths of an
—
—
25.000
22,000
29,000
24,000
1,000
8.000
5,000
1,000
27,000
10,000
5,000
35,000
15,000
6,000
26,000
5,000
5,000
26,000
5,000
5,000
f.OOO
14,000
1,000
127,000
90,000
51,000
133,000
104.000
52,000
64,000
45,000
39.000
67,000
45,000
39,000
99.000
89,000
9,000
890,000
7M.000
989,000
840,000
454,000
1,00'
1.000
3,000
3,01
1,000
Madras -1903 04.
1902 03.
190102..
All others -
1903-04..
1902-03..
1901-02.
Total all—
1903-04.
1902-03.
3,C00
190102.
Alexandria Receipts and
Through arrangements we made with
445,000
of Cotton.—
Shipments
Messrs. Choremi,
receive a weekly
& Co.. of Alexandria, we now
cable of the movements of cotton at Alexandria, Egypt.
The following are the receipts and shipments for the past
week and for the corresponding week of the previous
two years.
Benachi
Alexandy ia, Egypt,
May
1903-04.
4.
190203.
1901-02.
2,000
5.733,033
5,500
6,449.062
Receipts (cantare) —
This week
Since Sept. 1
Exports
25,000
6.411.648
...
This
Since
week. Sept. 1.
(bales)-
To Liverpool...
To Manchester.
To Continent...
To America
!
3,750 205,087
122,559
4,250 285,831
70o 45,903
Total exports
'
Tli is
Since
week. Sept. 1.
This
Since
week. Sept. 1.
H94 191, 17P
181,677
1,894 139,242
2,588 111,591
9,862 280,S1'« 11,533 352.555
443 76,715
92,932
8,'00 659.380 13.093 687,950 14,121 738,755
Market.— Our report received by cable
Manchester
market is steady for
both yarns and shirtings. The demand for both yarn ard
cloth is improving. We give the prices for to-day below
and leave those for previous weeks of this and last year for
comparison.
to-night from Manchester states that the
1904.
32s Cop.
—
—
4.000
2,000
1902-03..
1901-02..
Twist.
d.
Apr. 1
'•
8
" 15
" 22
" 29
May 6
d.
1903.
8*4 lbs. Shirt- Oolt'n
ings, common Mid.
to finest.
Uplds
a.
10V®U^ 6
1078 ®iisb 6
lOSg^llle 6
lOifl@llis 6
I0««©llie 6
1038® ll 1* 6
d.
s.
d.
@9
8
7ifl©9
9
«*
d.
8H
32s Cop.
i
a.
Shirt- Cott'n
commoi\
s.
d.
s.
*It"rf.
Uplds
to finest
a.
8-28 78s ®8Vj
8-28 7H 16 ®*l4
8-14 7" "§14
790 7"a ®8ifl
7-72 7% ®8H
7-76 713,„®8B, B
lbs
iK s,
Twist.
d.
d.
5
4i$®8
1
5-36
5
4ifl®8
1
5
40
®9 7»*i
5 4Hi'S)8 \H 5-42
W
«9 8
5 A^i-ffiS Hi 544
®9 8
5-56
4^-3)8 2
5-62
@9 7ifl
5 -li«@S 2
Cotton Consumption and Overland Movement to May 1.
6
6
6
6
ft
—Below we
present a synopsis of the crop movement for the
month of April and the eight months ended April 30 for
three years.
1903-04.
1902-03.
1901-02.
\
—
inch.
Stattburg, South Carolina.—The weather has been too
dry and cool for vigorous growth or prompt germination.
Rain has fallen lightly on two days during the week, to the
extent of nine hundredths of an inoh. The thermometer has
ranged from 47 to 82, averaging 65. April rainfall one inch
and forty-four hundredths.
Greenwood, South Carolina.— We have had rain on two
days dnring the past week, the rainfall being ninety-eight
hundredths of an inch. Average thermometer 65.
Charleston, South Carolina,—There has been rain on three
days the past week, the rainfall being Inappreciable. The
thermometer has averaged 66, ranging from 52 to 79. April
rainfall seventeen hundredths of an inch.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named, at
3 o'clock May 5, 1904, and May 7, 1903.
arose overland for April
bales.
GroM overland for 8 months
Net overland for April
Net overland for 8 months
Port receipts In April
.
Port receipts In 8 months
Exports In April
Exports In 8 months
Port stocks on April 30
Northern spinners' takings to May 1
Southern consumption to May 1
Overland to Canada for 8 months (In
eluded In net overland)
Burnt North and South In 8 months....
Stock at North'n Interior markets May 1
Came In sight during April
Amount of crop In sight May 1
Came In sight balance season
Total orop
Average gross weight of bales
Average net weight of bales
36,610
90,103
81,496
1,081.278 1,380,999 1,544.224
9,773
61,448
49,750
884,832 1,073,375 1,085,952
182,143
295,068
279,271
6,878.855 7,287,337 7,115,596
327,105
319,060 352,018
5,560.779 6,228,120 5,938,186
379,682
364,540 534,324
1,990,046 1,949,244 1,918,727
1,426,000 1,403,000 1,239,000
100,428
97,018
298
5,613
12,589
5,204
15,534
309,916 476,511 355,021
9,390,687 9,872,712 9,594,948
885.614 1,106,505
75,645
268
10758326 10701453
508-15
50688
487-21
485 96
503-61
483-00
..
May
7,
THE CHRONICLE.
1904.]
European Cotton Consumption to April 1.— By cable
we have Mr. Ellison's cotton figures brought down to
to-day
April
We
revised totals for last year tbat
comparison may be made. The spinners' takings in actual
bales and pounds have been as follows:
1.
Oct. 1 to
give
April
—
Liverpool. By cable from Liverpool we have the following
statement of the week's sales, etocks, &c. at that port.
,
also
Great Britain
1.
Continent.
Total.
Sales of the
Aotual export. ........ ........
3,241,000
1,737,000
4,978,000
481
507
4901
880,759,000 1,558,921,000 2,439,680,000
Forwarded
Total stock— Estimated
Of whloh Amerloan— Est'd.
Total Import of the week
Of which Amerloan
Amount
For 1902-03.
TaklngB by spinners... bales
Average weight of bales. lbs
3,180,000
2,027.000
5,207,000
488'9
481
£01
1,015,827.000 1.529,880,000 2,545.707,000
According to the above, the average weight of the deliveriesGreat Britain is 507 pounds per bale this season, against
501 pounds during the same time last season. The Continental
deliveries average 181 pounds, against 481 pounds last year,
and for the whole of Europe the deliveries average 480*1
Our
pounds per bale, against 488*9 pounds last season.
dispatch also gives the full movement for this year and last
year in bales of 500 pounds.
in
lbs.
each
000s omitted.
Spinners' stock Oot. 1
Takings to April 1. ..
Brtat
Britain
40,
1,762,
1,802,
Supply
Consumpt'n,26 week*- 1,502
Spinners' stock Apr. 1
300
Oonti
Brtat
Total.
nent.
446
3,118,
486,
4,880,
3,564,
2,574.
5,366,
990,
1,290,
4^076,
Britain
5,092
2,032
2,087,
1,890.
Tolai
373,
55.
3,378.
2,574,
897
804
In January
In February
50,
63,
99,
99,
149,
63.
99,
99,
99,
99.
162,
159,
154,
154.
60.
65,
55.
March
162.
99,
65,
65,
65,
65,
99,
99,
99,
99,
65,
65.
99
5,465,
4,264,
164,
164,
164,
164,
164,
164,
May 2, summarizing them as follows:
Unseasonably cool weather generally throughout the cotton belt has
been unfavorable for germination and growth of cotton, and poor
ending
stands are extensively reported, especially In the central and eastern
districts, where drought is also proving injurious. Planting Is nearly
finished, except In the northern portion *f the belt and in the extreme
western ootton counties of Texas, In which state the stands are
generally good. Chopping la in general progress over the southern
portion and cultivation has begun in Louisiana and Texas.
New Yoik
Cotton Exchange.— Changes in Commission
Law. — The members of the New York Cotton Exchange on
Tuesday May 3rd, by a decisive vote (211 to 31), adopted the
proposed changes in the commission law as follows: $7.50 for
round transactions for members; $10 for round transactions
for members outside United States; $15 for round transactions for non-membew; 75c. for floor brokerage; 75c. each
way for clearance; changing price unchanged. The increase
over present rates for round transactions is $2.50 for members, resident and non-resident and $5.00 for non-members.
Floor brokerage and clearance rates raised 25c. The new law
goes into effect June 1.
Paris Green fob the Boll Weevil. —Captain Marston,
an intelligent and experienced cotton-planter, states that he
has made exneriments with Paris green as a means of eliminating the boll weevil on his plantation in Texas, and is convinced that if properly used it will exterminate the pest,
—
Shipping News. As shown on a previous page, the
exports of cotton from the United States the past week have
reached 47,135 bales. The shipments in detail, as made up
from mail and telegraphio returns, are as follows:
Total bales.
Liverpool, per steamers Arabic 4,627
Cevlc, 4.487
9,114
To Bremen, per steamers Barbablan, 3«1
1,567
Bheln, 906...
To Hamburg, per steamer Waldersee. 199
399
To Antwerp, per steamer British Empire, 665
665
To Warberg, per steamer Hellig Olav. 150
150
To Oenoa, per steamer Lombardia, 300
300
New orlkanh To Barcelona— April 29-fitr. Oatallna, 3,525.. 3,625
Galveston— To Liverpool— April 30 -Steamer Belgian, 5,992.. 5,«92
To London May 3— 8teamer Oayo Mono, 1,140
1.140
To Bremen— April 30— Steamer Frankfurt. 5,018
5,018
To Hamburg— April 29-Steamer Vllle de Rouen, 1,217....
April 30— eJteanifT Saturnina, 106
1,323
Mobile— To Genoa- May 3—eteamerFert, 1,000
1,000
Pensacola-To Liverpool- April 30-8teamer Ida, 3,266
3,266
Bavannah-To Bremen-April 30 -Steamer Scharzfels, 1,163. 1,163
To Hamburg-April 30— Steamer Soharzfels. 596
596
Newport News— To Liverpool— May 3— Steamer Rappahannock, 1,850
Boston To Liverpool— Am 11 29-Steamer Republic 263....
April 30-8teamer Sagamore. 1,044
May 2— Steamer
Sylvania, 1,772. ...May 4—Steamer Orotic, 407
To Manchester— April 29-Steamer Iberian. 2,208
Baltimore— To Bremen— AprU 27— Steamer Rheln. 405
Philadelphia—To Liverpool -Apr. 28 -Str. Haverford, 3,968
Total.
The exports to Japan since Sept.
from the Pacific Coast.
1
have been
27,00<
2,0<K
45,004
655,001
24.000
34,0OC
5.00C
58,000
33,000
11,000
46,000
555,000
442,000
22,000
10,000
188,000
143,000
2,0OC
57,000
574,000
4R9.000
76,000
56,000
184,000
122,000
590,000
477,000
79,000
43.000
166,000
120,000
Sat'day.
Spot.
Market,
12:30
P.
)
M.J
Mid. Upl'ds.
Monday. Tuesday. Wed' day. Thursd'y Friday.
More
demand.
Fair
business
doing.
Qnlet.
Qnlet.
Qnlet.
7 76
7-62
7*66
7-62
7 62
7 76
5.000
000
300
6,000
10,000
8.000
6,000
200
300
300
200
& exp.
200
Quieter.
Market
opened.
Market,
4 P. M.
Steady
)
<j
/
)
2®7
at
pts.
advanoe.
Br'lyst'dy Qnlet at Steady
8<aio ott.
decline.
ai
Qnlet at
Steady at
1 pt.
5 pts.
1<&3 pts.
8®10
advance.
sdvanoe.
decline.
advance.
pts.
Qnlet at Stead; at Firm at Steady at Steady at
8®10 pts. 12® 14 pts. l@~ pts. ben pts. 1®4 pts. 7a 14 pts.
advance
decline.
deollne. advance.
deollne.
advance.
Steady at
The
prices of futures at Liverpool for each day are given
below. Prices are on the basis of Uplands, Good Ordinary
clause, unless otherwise stated.
1.201,
Govebnment Weekly Cotton Report.— Mr. James Berry,
Chief of the Climate and Crop Division of the United States
Weather Bureau, made public on Tuesday the telegraphic
reports on the crops in the Southern States for the week
Niw Yobk—To
39,000
Futures.
Oonti
nent.
40,000
1,000
The tone of the Liverpool market for spots and futures
each day of the week ending May 6 and the daily closing
prices of spot cotton, have been as follows.
Sat.
Apr. SO
Weekly Oonsumptior000s omitted.
In October
In November. .....
In December
In
1902-03.
1903-04.
1.
afloat...
6
28.000
1,000
452,001
37,001
29,001
155,00<
90,001
Of whloh Amerloan
Spec.
Bales of 500
week
May
31, ot*
bales.
Sales American..... ..........
Takings by spinners... bales
Average weight of bales.lbe
AprU 29
April 15 April 22
Of which exporters took. ..
Of whloh a peculators took.
For 1903-04.
Cet. 1 to April
1793
1,850
3,486
2,208
405
3,968
47,185
41,667 bales
Dion,
May
2
Tata.
May 3.
Wcsd.
May
4
Tknrs,
Vrl.
May 5
May 6.
12i* 1 121*1 4 12i« 4 12V 4 121* 4 12lg .4
P.M. P.M. P. M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M.
d.
d.
d.
d.
d.
d.
d.
d.
d.
7 49
April
April-May 743 7
May-June... 7 41 7
7 36 7
June-July
July- Aug.... 7 33 7
Aug.-Bept.. 707 7
8ept.-Oot.... 6 47 6
Oot.-Nov... 6 20 6
Nov.-De*.... 6 16 6
Deo.-'an..., 6 16 6
6 13 6
.Tan. -Feb
Feb.-Mch. ..
—
507 38 7 37
7 32 7 31
34 7 83 7 28 72:
30 7 29 7 23 7 22
£6 7 24 7 19 7 Ifr
02 6 99 6 94 6 93
39 6 38 6 36 6 86
246 136 12 6 10 611
18 6 07 6 06 6 05 6 0£
16 6 056 04 6 02 6 0c
15 6 04 6 03 6 01 6 02
46 7
42 7
88 7
13 7
50 6
7 40 7 42 7 40 7 41 7
7 36 7 38 7 36 7 37 7
7 3a 7 34 7 31 7 32 7
7 27 7 29 7 26 7 26 7
7 01 7 03 7 01 7 00 7
6 42 7 42 6 39 6 38 6
6 16 6 16 6 14 6 13 6
6 10 6 10 6 07 6 06 6
6 08 6 08 6 05 6 04 6
6 07 6 07 6 04 6 03 6
56 7 55
50 7 50
45 7 46
39 7 89
13 7 13
47 6 49
21 6 22
13 6 14
11 611
10 6 10
I
Jute Butts, Bagging, &o.—The market for jute bagging
has been very quiet the past week, and prices are as last
quoted, viz., 63^c. for \% lbs. and 6^c. for 2 lbs., standard
grades. Jute butts continue very dull atl%@l%c. for paper
quality
and 2@2^c.
for bagging quality.
BREADSTUFFS.
Friday,
May
6, 1904.
Only a small volume of business has been transacted in the
market for wheat fl mr. As a general rule buyers have their
wants fairly well covered by old purchases. There has been
no developments of a character to induce additional purchases of importance and the sales made have been almost
exclusively of very ordinary quantities. Few changes have
occurred in quoted prices, but they have been wholly nominal and to make sales of importance lower prices would
have to b« accepted. Rye flour has been dull and unchanged. Corn meal has been quiet but steady.
Speculation in wheat for future delivery has been quiet.
Early in the week prioes declined, developments generally
having a bearish influence, tending to hold speculative buying in check and prompted selling for the account of bear
The exports for the week to the European ports
interests.
were again heavy, resulting in the largest supply of wheat
afloat for Europe recorded in recent years.
Weather conditions in the West were reported quite generally favorable.
Good progress was reported in seeding the spring-wheat crop
and the condition of the winter-wheat crop was understood
to be improving. Subsequently, however, the market turned
steadier, and most of the loss in prices was recovered. According to the reports of some of the winter-wheat States, the
show the improvement expected, and |com plaints continued to be received relative to
the unsatisfactory outlook for the crop in the Ohio Valley.
The near by deliveries were influenced by reports of an improving demand for cash wheat for millers, light stocks and
small receipts, The local spot market has held firm, but
business has been quiet. Today the market was firmer on
unfavorable crop news from the Ohio Valley. The spot
market was firmer but quiet.
DAILY CL08ING PRICES OF WHEAT FUTURES IN
YORK.
Sat.
Fri.
Mon.
Tuts.
Wed. Thurs.
No. 2 red winter, f.o. b... 105
107
105
105
105
106
May delivery in elev
92"%
91^8
91 7s
93*8
92*
§\H
July delivery in elev
89ifl
89ifl
90%
90
90*a
89k
Sept. delivery in elev
8438
831*
84
83
83»a
831a
82"*8
Deo. delivery in elev
83 *
84
83 1*
83
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Fri.
Mon.
Tuts.
Wed. Thurs.
Sat.
88"**
May delivery in elev
89%
913s
89«8
89
89H
84i*
85*8
July deuv. in elev
84**
85»«
86H
84»a
8OI4
81
Sept. dellv. in elev.
79%
79%
80^
80
condition of the crop did not
NEW
1
:
.
.
[Vol. lxxvitl.
THE CHRONICLE.
been quiet. Prices for the nearTHE DRY GOODS TRADE.
advance. The cash demand has
1794
Indian corn futures have
deliveries show a slight
New York, Friday, P. M., May 6. 1904.
been reported as showing some improvement and the moveImprovement in business is generally reported by retailers
ment of the crop has been only moderate. Weather condition in the corn-belt have been more favorable for planting this week, and at the close the demand with jobbers has
crop, one authority reporting that preparations for a large shown up somewhat better than of late.
This change is
acreage in corn were progressing favorablv. Under these attributed entirely
to the more favorable weather conditions
reports prices weakened slightly during the first half of the
week. Subsequently, however, on reports of rains delaying whioh have prevailed, helping distribution where such aid
planting in some sections of the corn belt, the market was most needed. In the primary market there has been no
showed a tendency to rally, shorts being buyers to cover alteration, as the impetus just referred to has not yet reached
short sales. Locally the spot market has been firm but it.
Jobbers and other buyers are still operating very cauquiet.
To-day the market was quiet but steady. The spot
tiously
so far as actual purchases are concerned, little being
market was dull.
taken
beyond
what is required for quick consumption. At
YORK.
DAILY 0LO8LVQ PRICES OF MO. 2 MIXBD CORK IN
the same time an increase in the number of inquiries coming
Frx.
Wed. Thurt.
Mon. Tue*.
Sat.
60i*
forward is noticeable in the cotton-goods division, these
61
61
61
61
Cash corn f. o. b
61
55i>8
56is
555g
56
56k
May delivery In elev
55*8
being directed to ascertain as far as possible the position of
52J«
531*
52^8
53
58%
July delivery In elev
53%
sellers
with regard to staples for the fall season. Sellers are
53*8
53
...•
533s
••
Sept. delivery In elev
very
reluctant to commit themselves, and the outlook is deDAILY CLOSING PRICES OF MO. 2 MIXED CORN IN CHICAGO.
cidedly
far as spot goods are concerned, the
Mon Tuet. Wed. Thurt. Frx. market uncertain. Soin most directions, with the general
Sat.
T
is
irregular
47i8
46i«
46
45*8
45%
46 *
May delivery In elev
e
47»8
48ifl
48%
48% tendenoy in favor of buyers. There is thus no inducement
July delivery In elev
48%
47?s
48
48
48%
47%
47%
Sept. delivery In elev.... 48%
to manufacturers to increase their output.
On the other
44%
44% hand, curtailment is still spreading, and there is talk of the
44
44%
4318
44
Deo. delivery in elev
Oats for future delivery at the Western market have been Fall River mills further shortening their output, as, in spite
moderately active. Reports of fair cash sales and limited of the recent fall in prices of print cloths, the demand conIn- tinues inactive and stocks are increasing. The woolen goods
offerings advanced prices for the near-by deliveries.
fluenced, however, by favorable weather conditions for the division oontinues very dull for men's-wear fabrics and quiet
growing crop, the distant deliveries were under pressure, and for dress goods
weakened. The spot market has been moderately active at
Domestic Cotton Goods.—The exports of cotton goods
steady prices. To-day the market was easier under favorfrom this port for the week ending May 2 were 3,098
able crop news.
packages, valued at $232,258, their destination being to the
YORK.
DAILT CLOSING PRICKS OF OATS IN
points specified in the tables below
Wed.
Thurs.
Frx.
Sat.
Mon. Tuet.
Nom Nom. Nom. Nom, 45% Nona.
No. 2 mixed in elev
1903.
1904.
Nom. Nona. Nom. Nom. Nom. Nom.
No. 2 white In elev
New York to Mat 2.
Week. Since Jan. 1. Week. Since Jan. 1.
DAILT CLOSING PRICES OF NO. 2 MIXED OATS IN CHICAGO.
Thurt.
Wed.
Frx.
Sat.
Mon. Tuet.
313
15
916
36
41%
41
40%
40 %
May delivery in elev
39%
40%
449
536
39
89
38 7s
88%
38%
July delivery in elev
39%
33%
38%
156
23,168
200
96,357
30%
30%
30%
30% China
Bept. delivery in elev
31%
30%
by
NEW
•
1
NEW
—
2
Following are the closing quotations:
_
Superfine
Fine
Extra, No. 2
Extra, No. 1
Clears
Straights
Patent, spring
FLOUR.
Nominal
Patent, winter
$5 00 95
Olty mills, patent. 5 10 «5
$3 26 ®3 30
Rye flour, superfine 4 20 -»4
Nominal.
Buckwheat floor.. Nominal.
3 85 ®3 90
4 00 «4 70
Corn mealWestern, eto
3 00 ®3
4 80 «5 00
4 80 ®5 70
Brandywine
3 05 <z>3
25
70
65
05
10
GRAIN.
Corn, per bush—
Wheat, per bush—
o.
o.
o.
o.
N.DuL.No.l
Western mixed..... 54 «60%
f.o.b.100%
T. o, b.60%
N'thern Man., No.2. f.o.b. 92
No. 2 mixed
Bed winter, No. 2.. f.o.b.107
t. o, b.60
No. 2 yellow
Hard winter, No. 2. f.o.b. 94%
No. 2 white
f o, b.57
Oats— Mixed, p. bush. 45 -a>46% Bye, per bushWhite
46 ®53%
western
70 ©75
No. 2 mixed
Nominal.
Stateand Jersey.... Nominal
No. 2 white
Nominal.
Barley—West
55 «85
Feeding
47 ©62
.
Exports of Grain and Floor from Pacific Ports.— The
exports of grain and flour from Pacific ports for the week
ending May 6, as received by telegraph have been as follows:
From San Francisco to Japan and China, 1,510 bbls. flour,
and to various South Pacific ports, 4,186 bbls. flour.
Combining these figures with those for previous weeks, we
have the following, which covers the exports to foreign
countries for the period since July 1, 1903, comparison being
made with the corresponding period of 1902-03.
Export*
Flour,
Corn,
Oatt,
from—
bblt.
buth.
bush.
Wheat,
bush.
San Fran. 672,461 1,847.491
PugetS'd. 1,573,094 1,421,725
Portland.. 830,712 2,934,896
Total.... 8.076,267
Tot
6,203,612
'02-3.8,918,106 23.822,087
Barley,
bush.
5,694 7,598.280
Rye,
bush.
1,078
88,894
370,695 787,978
6 1,056,539
344
89,865
44,276
376,395 9,442,797
1,422
923.809 7,460,554 215.132
471
Government Weekly Grain Report— Mr. James Berry,
Chief of the Climate and Crop Division of the United States
Weather Bureau, made public on Tuesday the telegraphic
reports on the grain crops in the various States for the
week ending May 2, summarizing them as follows:
Corn.— With the exception of Kansas, Southern Missouri and Arkansas, corn planting has progressed slowly, but preparations for this
work throughout the eorn-belt have been extensive, and with good
weather the oomlng week planting will be vigorously pushed In Nebraska, Iowa. Illinois and Indiana. In the ooast districts planting Is
in progress as far north as Maryland, but rains have prevented this
work in tue upper Ohio Valley, Pennsylvania and New Jersey. In
the Eitst Gulf states and Tennessee corn has suffered from drought and
low temperatures, but the outlook is more favorable in the Central and
West Gulf States, where some has reoelved Html cultivation.
Winter Wheat— In Nebraska, Kansas, and Missouri winter wheat has
advanced favorably, exoept where damaged by Hoods in the last-named
State. In Illinois, Ohio, Kentucky, Tennessee, the Virginias. Maryland and North Carolina an Improvement is Indicated, but In Indiana,
Ohio and Pennsylvania muoh will be plowed up, and the outlook In
Mlohlgau is poor. Wheat is now heading in Southern Kansas. The
crop has advanced favorably on the Pacific ooast, the outlook being
exceptionally flue in Washington.
Spring Wheat.— With practically no rain lnthe spring-wheat region,
seeding has beeu vigorously pushed, exoept in the R*d River Valley,
where the ground yet requires a week of dry weather. Seeding is nearlv
finished In Central and Southern Minnesota and South Dakota. Good
Btands are reported from Washington and Oregon.
Oats.— Oat seeding is nearly finished In the northern portion of the
central valleys, and Is well advanoed in the Lake region. In Iowa the
stands were better than were expeoted, and while some complaints of
slow germination are reported from Illinois, the general outlook in
that State and in portions of Nebraska and Kansas Is promising
A
considerable portion of poor wheat in Pennsylvania will be re-sown to
oats.
•"
Par other tabic* usually given here see page 1770
Afrlea
West Indies
Mexico
Central America
South Amerloa
Other Countries
Total
.....<
22
3,600
684
5,117
20,127
6,507
926
829
69
220
787
331
5,484
14,870
3,818
11,562
1,004
3,728
22,700
3,840
3,098
79,363
7,078
164,805
50
444
29
342
1.316
3,604
9,155
3,160
6,940
823
The value of these New York exports since Jan.
$4,319,186 in 1904, against $6,820,686 in 1903.
1
has been
The jobbing and converting trades are not purchasing
brown sheetings or drills to any greater extent than before
and but a limited amount of business has been done. Prices
A
are irregular, with four-yard sheetings weak.
moderate
business is reported in ducks at previous prices; brown osnaburgs are dull. Bleaohed cottons are slow of sale in all
grades from first hands. Sellers have not changed their open
quotations, but business is being done below these, and open
reductions are considered by buyers as probable. Low-grade
bleached cottons are the most irregular in price. There is no
material change in the market for wide sheets, sheetings or
pillowcases, a limited business being done at previous prices.
Moderate sales are reported in cotton blankets, mostly for
export. In coarse, colored cottons business isjgenerally confined to small quantities, and for goods on hand sellers are
easy to deal with. Kid-finished] cambrics and other cotton
There has been no increase in the demand
linings are dull.
for printed caliooes, only small sales being reported. Staples
are unchanged in prioe, with fancy prints being sold out at
concessions to buyers in some instances. Fine printed wash
fabrics are quiet and irregular. Some lines of staple ginghams are in favor of buyers; fine ginghams are steady.
Regular print cloths are unchanged at 3}£o. without demand.
Narrow odds are slightly easier in some counts. Wide odds
unohanged.
Woolen Goods,— Buyers of mens wear woolens and
worsteds have shown no more interest in the market this
week than before. There is a limited demand for small lots
for quick delivery, coming from buyers who have been disappointed by sellers failing to deliver on early orders, but
there is little doing of a character to actually increase the
volume of business previously booked. The orders are
mainly for woolen goods, where not sent in to replace earlier
orders, and most lines of standard woolens are in fairly good
condition. In a few instances sellers are well enough plaoed
to ask higher prices on duplicate orders, but the majority
are easy to deal with. There are no stocks of any consequence in first hands, these being kept down by the extensive
curtailment of production in both woolen and worsted goods
mills. The demand for overcoatings is inactive for both
staples and fancies, and only an indifferent business is passing
in cloakings. Light-weight woolen and worsted dress fabrics are slow of sale for immediate delivery, and only a quiet
business is doing in fall lines. Business in flannels and
blankets is limited, at unohanged prices.
Foreign Dry Goods.— A quiet demand is reported for fine
grades of woolen and worsted dress goods for the fall season
Piece silks are dull in plain
in a generally steady market.
fabrics but selling well in fancies. Ribbons are in fair request. Linens are firm and burlaps quiet,
:
Mat
THE CHRONICLE.
1904.]
1,
0ity
Stats aus
$tf?mwmr.
%\it <&}XX0tXXtlZ.
PUBLISHED WEEKLY.
1795
Name.
Rate
Page.
4
1797.. Bee Co., Texas
If 66. -Belleville (Mich )8oh.
419
Dlst
1510..Beresford (8. D.) Soh
5
Dlst
4
1797 .Biddeford. Me
4
1408. .Bloomneld, N.J
1797.. Bonham Soh. DIb., Tex. 4
5
1 458.. Bottineau Co., N. Dak
3*9
1510. Bristol. B. 1
4
15 10.. Burlington, Vt
4
1566.. Butler Co., Ohio
1458..Cardiniiton Township
Turnpike No. l.O... 5
4
1458.. Castile, N. Y
of Subscription— Payable In
Advance
flOOO
For One Year, lnoludlng all Supplements
For Six Months
European Subscription (Including postage)
6 00
13 00
7 50
European Subscription Six Months (lnoludlng postage)
The Railway and Industrial Seotlon, Issued quarterly, Is furnished
without extra charge to every annual subscriber of the Commercial and
Financial Chronicle.
The State and City Seotlon, Issued semi-annually, 1b also furnished
without extra <harge to every subscriber of the Chronicle.
The 8treet Bail wat Seotlon, Issued three times a year, Is likewise
furnished without eulra charge to every subscriber of the Chronicle.
The Bank and Quotation Seotlon, issued monthly, Is also furnished
without extra charge to every subscriber of the Chronicle.
Terms of Advertising—(Per Inch Space).
Three Months (13 timeB)
Transient matter (eaoh time) $4 20
STANDING BUSINESS CARDS.
Two Months
.
.$29 00
Six Months
(20 times) ... 60 00
$22 00 Twelve Months (52 times) ... 87 00
(8 times)
WILLI AM
.
II.
DANA COMPANY, .Publishers,
Pine Street, corner of Pearl Street,
Post Office
Box
NEW YORK.
958.
MUNICIPAL BOND SALES IN APRIL.
AocordiDg to our records the aggregate of bonds issued in
April was $12,164,444, as against $14,748,524 in March and
$7,986,821 in February. In April 1903 the total was $17,826,820.
Temporary loans
to the
amount
of $20,066,375, $8,000,-
000 Philippine loans, $6,000,000 Mexican loan and $497,178
Canadian loans were also put out in April 1904, but are not
included in the above total.
The principal subject of discussion dnring the month was
the approaching sale of $37,000,000 Z%<& bonds of New York
City, advertised to take place May 3. This is the largest sale
by far ever made at one time by the city of New York, and
exceeds by eleven millions of dollars the total of the public
whole of the year 1903. The
"
all
or-none" bids under certain
considering
new feature of
offerings by the city for the
conditions also excited considerable interest.
In April New York City made no public disposals and only
$115,848 of stock was issued to its sinking fund. Revenue
bonds (temporary obligations issued in anticipation of the
payment of taxes), however, were put out to the amount of
but of course such obligations are not included
in our month's output. The city of Cleveland in April disposed of a number of issues, aggregating $1,462,000, at varying prices, E. H. Rollins & Sons of Chicago; W. J. Hayes
Sons, Cleveland; Fuller, Parsons & Snyder of Cleveland;
Trust Co. and the German Nathe Union Savings Bank
tional Bank of Cincinnati being the successful bidders. The
city of Cincinnati also put out a large number of issues, the
aggregate being $878,466, one block of $550,000 being awarded
on April 25 to Vermilye & Co., New York City. Essex
County, N. J., with $400,000; East Orange, N. J., with $335,000; Onondaga County, N. Y., with $1,000,000, and Pawtucket, R, I., with $650,000, all made sales at fair prices.
The number of municipalities emitting bonds and the number of separate issues made during April 1904 were 192
and 298, respectively. This contrasts with 157 and 233 for
March 1904 and with 166 and 266 for April 1903.
In the following table we give a list of April loans to
the amount of $12,184,444 issued by 191 municipalities. In
the case of each loan reference is made to the page of the
Chronicle where an account of the sale is given.
$17,819,150;
&
&
April Bond Sales.
Name.
Page.
Rate.
1458. .Ada, Ind. Ter
5
1797.. Albuquerque (N. M.)
Soh. Dlst
4»«
1565. .Ambler, Pa. (2 lea.),-. 4
1458. . Anderson. Ind
3^
1797..Antlooh,Cal
5
1797..Autlooh, <:al
5
1408. .Ashland Co., Ohio.... 5
1565.. Aeiland, Ore
4>t
1408. Athens, Oa
4
1468.. Athens Co., Ohio
5
1565. .Atlanta, Qa. (2 iss.).. 3^
1565. .Atlantlo City, N. J.... 4
1665..AtlantloCo., N. J
4
1510..Balronr 8oh. Dlst., N.
Dak
4
1565. .Barton Heights, Va.. 5
1797. .Baylor Co., Texas.... 4
.
Maturity.
1924
U924-1934
1908-1984
U914-1934
1905-1926
1905-1924
1905-1909
"l'jjas"
1909-1920
1933
1909
1906-1908
1914
1933
11906-1918
(2 lisues)
.
1798..Collinwood, Ohio
1798..Colllnwood, Ohio
409.. Columbiana Co., Ohio.
1
14 58.. Columbus, Ohio
1798. .Columbus, Ohio
1798. .Columbus, Ohio
1458. Columbus Grove, O. .
1798...Cook Co., Ill
1611.. Corinth, Miss
1458.. Cuyahoga Co., Ohio..
1511. Dallas Co., la
.
.
1 409..
Dawson, Ga
1458.. Decatur. Ill
1511 . .Douglas Sch. Dlst. No.
27,JArlz
1458..Duluth, Minn
1566 Duquesne (Pa.) Soh.
Dlst
1566.. East Orange, N.J. (2
issues)
1511. .Eaton Rapid s, Mich
1511. -Ellsworth, Minn
1459..Elyrla(0.) Sen. Dlst..
. .
1459.. Essex Co., N. J
1566.. Essex Co., N. J
1566. Pall River, Mass
1566.. Fail River. Maes (2
$15,000
Price.
100
7,600
10,000
2,500
100
100
100
5,000
100
Ohio
(2 leenes)
Prtce.
1909
1904 1912
1909-1928
1905-1923
7,700 10195
32,000 10117
57,000 103-41
5
19041909
4»«
1916-1932
15,000 102-168
32,000 105-46
4»*
1912-1927
23,000
5
1914
1924
1914
1924
1924
1905-1909
1905-1914
1914
1924
1905-1909
1905-1914
1924
1924
10,000
50,000
50,000
40,000
50,000
6,269
32,065
60,000
40,000
3,068
7,064
550,000
20,000
40,000
470,000
125,000
220,000
175,000
5,000
255,000
212,000
2,000
4
4
4
4
4
4
4
4
4
4
4
5
4
4
4
4
4
4
4
U914-1924
1915
1915
1919
1919
1919
1924
1905-1908
5
3^
11914-1924
1906-1915
1905-1914
1905-1914
1 1905-1909
5
5
5
5
6
4
4^
5
U9131933
1905
1914
3ia
5 1*
5
4^
1905-1924
1904-1922
U914-1924
5
5
1904-1923
1905-1909
5
1924
1934
4
4
4
1933&1934
1924
6
5
1919
1905-1919
1905-1909
4
1940
1934
1914
4%
3»n
is.)
1459. .Franklin Co., Ohio....
1459.. Franklin Co .Ohio....
1512.. Fremont, Ohio
1512 .Gallia Co., Ohio
1798.. Geary. Ohla
1459. .Geneva, N. T. (2 Iss).
1512. .Glen Ulln, N. Dak....
1567.. Gloucester City, N. J.
4
1905-1914
U9051919
104-57
100
106097
103-147
105-765
106097
100-35
10103
103147
105-765
100 35
10104
106-43
103-73
101
10104
101-74
101-44
101-50
101-44
102-02
102127
100
10,000 100
100,000 100728
35,000 100-62
40,000 105055
21,600 irioo
20,000 moo
10,000 in 00
12,300 104
57,500 100
65,000 102
58,482 102-73
60,000 100
20,000 102-50
7,000 100
20,000
50,000
100-50
20,000
97-50
100
335,000 104 044
12,000 101-458
7,500 103
12,500 109-628
10,000 1T100
400,000 106 521
100,000 100-579
240,000 103859
17,000 10430
7,000 100
11914-1924
1905-1934
13,000
15,000
103-50
106-833
5
4
4
1905-1917
1912-1914
1908-1911
4%
19051914
6,500
40,000
60,000
25,948
50,000
52,000
44,000
2,500
100-425
100-40
101-59
104-70
105 001
101-45
JiOO
1924
1984
5
6
4
7
"1924"
10405
4
1924
59,000
4
1929
1914
1919
35,000 100
2,600 100
25,000 106-834
25,000 100
100
1512. .Grand Forks (N.Dak)
Soh. Dlst
1567.. Groveland, Mass
1512. .Hamilton, O. (3 iss.)..
1512.. Hannibal. Mo
1459.. Harmony Twp. School
Dlst.,
Pa
4
4^
4
1905-1926
5
1567. .Hartford City (Ind.)
Soh. Dlst
1799..Heber Boh. Dlst.,Utah
1512.. Hickory. N. C
1512.. High Point.N.O. (21s.)
1512..Hlllsboro (111.) School
Dlst
1567. Holyoke, Minn
1667.. Homestead, Pa
1512.. Hope (N.D.) Sen. Diet.
1567..Huntevllle. Me
1512.. Indianapolis, Ind.
1512.. Indianola. Miss
1799.. JbOkton.MlBB
5
5
1
.
Ind
1934
5
1919
6
4
4
5
1922&1932
1924
3**
4
8ch. Dlst. No. 73....
1459..Lltchneld,m
1567 Logan City, Utah
1459.. Los Angeles, Cal
1512. .Lowell Soh. Diet., O..
1567. .Lucas Co., Ohio
1512. .Lugonla Boh. Dls.,Cal.
. .
4
"1924"'""
U909-1924
6
5
1567..Lansdowne, Pa
4
1459..Latonla (Ky.) School
Dlst. No. 12
5
1512 Lee Co., Mies
5
1799.. LeMare <Ia.) Boh.Dis.
1512.. Lewis Co. (Wash.) Sch.
Dlst. No. 3
1512.. Lincoln. Neb
1512.. Lincoln Co. (Wash.)
1909-1924
1924&1934
5
5
4>«
1567..Kanias(Mo.)Sch.Dis.* 3>s
1512. .La Crosse, Wis
4
1512. Lawrence Co
34,000
12,000 U075
40,000 100-75
22,000 100-45
8,000 100
9,500 102476
14,000 100
8,000 100
35,000 106-786
94,00011100
28,0»O111O0
16,000 100
1905-1909
"i929"
1567. .Kalamazoo, Mich
Amount.
100
11913-1943
1924
1459. .Plndlay.Ohio
5
1459. .Flandreau, 8. Dak
5
1798. .Flathead Co. (Mont.)
Soh. Dlst. No. 5
5
1798..FlU8hlng(O)S0h.Dl8t. 5
Fowler
Twp.
School
1798..
Dlst..
$6,500
7,500
50,000 104-32
90,000 10304
14,000 100
25,000 104-50
40.000 10216
87,000 107 079
10.000 100 55
151l..CattaraigRsCo.,N.Y. 4
1458. .Champaign Co., Ohio
1566..Charleroi, Pa
1566..Charlerol (Pa.) 8ohool
Dlst
1798.. Chelan Co. (Wash.)
8eh. Dlst. No. 1
1409.. Clnolnaatl, Ohio
1409.. Cincinnati, Ohio
1409.- I'lnclmuatl, Ohio
1458.. Cincinnati, Ohio
,
1458. Cincinnati, Ohio
1458. .Cincinnati, Ohio
1 458.. Cincinnati, Ohio
1458. .Cincinnati, Ohio
1458.. Cincinnati. Ohio
1458.. Cincinnati, Ohio
1566 . Cincinnati, O. (2 iss.) .
1511.. Claiborne Co., MIsb...
1798.. Clarke Co., Va
1566.. Cleveland, Ohio
1566.. Cleveland, Ohio
1566. .Cleveland. O. (8 iss.)..
1566.. Cleveland, Ohio
1566.. Cleveland, Ohio
1566. .Cleveland, Ohio
1566.. Cleveland, Ohio
1666..0oatesvllle, Pa
1798..Cceur d'Alene School
Dlst, Idaho
Amount.
1924
1914
1919-1934
.
Terms
Maturity.
11914-1924
1904-1924
1905-1911
1924
1 1914-1924
1 1914-1924
11914-1934
4%
5
8%
6
4>a
5
40,000
10,000
60,000
55,000
106-26
17.000
10,000
100,000
17,000
17,600
125,000
4,000
25,000
72,000
200,000
15,000
33,000
5,000
100
101
100-50
loeifl
100
100
1<
103-20
101-57
100
105-50
100
100
100-92
103-56
101-50
119091914
11914-1924
1905-1914
5,000 100
1,290 luO-85
6I3
5
5
10513
20,000 10350
50,000 100-53
25,000 101-05
1905-1914
1929
is
45,628
1905-1924
11914-1924
1904-1943
1905-1924
1905-1924
1909-1923
7,000
10,000
12,000
400,000
25,000
49,664
16,000
107-69
)
02083
100
113 828
10518
102-64
—
—
THE CHRONICLE.
J79G
Name,.
Rate.
Page.
1410. Luzerne Co., Pa
4
1568. .Lynn, Mans. (2 Issues) 4
1410. Madison Co., Tenn... 4
5
1799. .Madlsonvlle, Ohio
1513. .Manchester. Ohio
5
1513. .Masslllon. Ofclo
4^
1799. .Medina, Ohio
5
1799. .Medina, Ohio
5
1459. .Memphis, Tenn
4
4*3
1411. .MUmlsburg, Ohio
1568. .Middletown, Ohio.... 4
1568. .Mllnor (N. Dak ) Sob.
Dist
4
1513. .Mlnneota, Minn
5
1568. .Minnesota
3
1513. .Minnesota Son. loans
4
(19 issues)
1799. .Mmnewankln School
4
Diet.. N. Dak
1513. .Mississippi LeveeDls. 5
1799. .Mompeller. Ohio
6
5
1411. ,Mt. Airy. N. C.
4>«
1411. .Mt. Oliver, Pa
1563. .Mt. Vernon (N. Y.)
8oh. Dist
1568. Neosho (Mo.) 8ohool
5
Dist
4
1568. .New Mexico
1411. .Newport(Ky.)8oh.Dlf. 4
1800. .New York City (12 Is.) 3
4
1568. .Norfolk Co.. Maes
1411. .North Hempstead (N.
Y.) 8oh. Dist. No. 7. 4
14^9. .Norwood, Ohio
4>s
1514. Oakland Co.. Mioh.... 4
1ss.).
1514 .Oneida, N. Y. (4
4
1514. .Onondaga Co., N. Y.. 4
.Onondaga
Co.,
1514.
N. Y.. 4
1568. .Orange, N. J. (2 lss.). 4
1568. .Palnesvllle, Ohio
5
1801. .Paonla, Colo
5
1411. .Park Co. (Mont.) High
8ch. Dist
412
1514. .Pawtucket R. I. (t is.) 4
1514. .Paxton. Ill
4>s
1411. .Perry Co Mo
ft
14U. .PbuMlx. Ariz
5
1460. .Pomeroy, Ohio
4*8
18ul. .Prospect Park, Pa
4 1*
1460. .Revere, Mass
4
1460. .Ripley, Tenn
1801 Rockwall Co., Texas. 4
1568. .Rome, N. Y
4
1568. .Rome, N. Y. (2 lee.)... 4
1431. .Rosebud Co. (Mont.)
8ch. Dist. No. 13.... 6
1461. .Raston, La
5
1461. .HabineCo., Tex
4
1514. .Saginaw, Mioh
4
1411. .St. Clair Twp., Ohio.. 5
1411. .Salem, Ohio
5
1801 .Schoharie (N. Y.) Soh.
Dist. No. 1
4
1461. .8easlde, Ore
6
1569. .Sheridan Co.. Wyo.... 5
1461. .8pringfleld, Ohio
4
1569. .Springfield, Ohio
6
1569. .Sprlnglield, Tenn
1411. .Spring Ilope Soh. Die.,
N.0
5
1515. .Spring Lake, N. J
4 1*
1569. .Spring Lake <fe Spring
Maturity.
1903-1937
.
,
1933-1*943
1
1924
1911 1916
1914
Price-
111-53
1924-1934
1906-1925
8,300
6,000
20,000
6,000
5,350
200,000
80,000
35,000
1916
1921-1923
7,000
6,000 100-583
300,000 100
1933
1
Amount.
$200,000 103*333
36,000 102 03
100,000 100
105-7ft
)
J
102-617
106-86
100-255
105-34
101-447
25,825
100
1914
1944
1909
1934
1924
5.000
60,000
4,200
15,000
15,000
100
100
10607
1934-1937
85,000
103-883
100
104-20
1569.
1569.
1412.
1801.
1515.
1461.
1801.
1461.
1615.
Stark Co., Ohio
Stark Co., Ohio
Starke Co., Ind
.Stonewall Co., Texas
.Sumter Co., Ala.
.Swampsoott. Mass
.Swamon
Soh. Dlst.,0.
6
6
6
6
4
5
4
ft
Diet
4
6
6
6
1921
1905-1924
U905-1924
'"1924"
1914-1934
1905-1917
1934
1919
1
U914-1919
1905-1914
U909-1924
1924
1905-1927
1905-1929
1905-1924
1934
1 1914-1924
1909 1912
1914
25,000 102
650,000 103521
10,000
30,000 101041
300,000 105-875
8,000 104-10
13,000 10080
52,000 10305
10,000 102
1,999 100
17,800 100 05
15,009 100
2.500 101-40
30.000 100
4,000 100
25,000 105 02
20,000 103-875
25,000 108-302
20,000 10053
10,000 10051
45,000 104022
40,000 101165
1,348 U 100
35,000 100
6,000
15,000
100
100 30
1905-1914
1905-1909
10,000
60,000
4,000
2,201
27,240
50,000
25,000
3^,000
6,000
108-06
1907-1912
U911-1941
1934
1913-1925
1905-1920
1924
1906-1909
1906 1913
1906-1910
Dist..,
Kan
1462. .Van Wert Co. (Ohio.)
Road Diet
1516. Walnut, la
1516. Wapakoneta, Ohio
1516. .Warren, Ohio
1516. Waynesville (111.) Soh.
Dist No. 28
1803. .West Bay City, Mich.
1509. .Westervllle. O. (3 lee.)
1803. .Westtleld, Mass
1413 .Whitehall. N. Y
1413. White Plains, N. Y....
14'3. .White Plalne.N.Y....
1569. .Woodlawo, Ala
15b9. .Woodlawn, Ala
1462. Wyknff, Minn
1803. .Wylaiii, Ala
1517. York Soh. Dist.. N. D.
1413. Youngs'own,0.(lll8.)
1517. Youngsiown.Ohlo
1517. Yoiuigetown.Ohlo
1413. Z^nesvllle, Ohio
105165
100-875
10009
100
104 20
105 766
100
4,000 100
7,000 102 71
8,944 104-32
3,010 102-383
100
1905-1934
78,500
62,500
30,000
105,000
55,000
101-633
101-31
100
5
1905-1914
5,000
4
6
5
5
1905-1918
1909-1916
1907-1913
5
5
5
1907 1915
1905-1912
19051907
19091914
100 10
15,500 100
7,400 104-86
7,000 103967
2.400 H 100
.
19051910
4
4
4
4
5
5
5
1909-1933
1914
1919
U909-1914
1924
1914-1919
4
5
"1914"'
B
i906*i915
1906
5
4
1914
4,500
60.000
27,000 100
80,000
25,000 ib'l-69
10,000 100 02
3,000 10007
10,000
15,000
98-89
4,600
8,500 100
5,0 >0
26,775
4.750
100
103-56
10463
550 10118
41,362
9963
Total bond sales for April 1904 (192 municipalities, covering 298 separate Issues).. §912,164, 444
15.000
5,578
327 32
4
.
96-70
96 30
$497,178
Total
REVISED TOTALS FOR PREVIOUS MONTHS.
The following
item, included in our total for a previous
month, should be eliminated from the same, as the sale
give the page
has not been carried to completion.
number of the issue of our paper in which the reason for the
We
failure to
consummate the sale may be found.
Name of Municipality.
Page.
131,500
.
1514. Renfrew, Ont
12,000 101-395
6,500 101
100,000 100-40
33,855 100-41
500,000 10519
500,000 108-29
85,000 U 100
2.500 If 100
40,000
95
4
Dist
1802 .Trenton, N. J. (4 le.)..
1461. rroy (O.) Sch. Dist..
413
1802. .Toccarawaa Co.,
5
1516. .Utlca, N. Y
3ia
1802 .Valley Center Sobool
1
1568.. Ochre River, Man....
1915-1924
1924
1905-1914
1905-1914
1905-1929
1929
1905-1914
Topeka (Kan.) School
1516
Bonds Sold bt Canadian Municipalities.
10106
1944
1459. .Montreal, Que
4
$476,600; 101-2517
Page.
.Bwarthmore. Pa
4
.Sykeston Soh. Dist.,
N. Dak
1569. .Tlppeoanoe Co., Ind..
1569 .Tippecanoe Co., Ind..
1569. .Tippecanoe Co., Ind..
1516. .Topeha (Kan.) School
;
15o6..Elmwood
Vallev8ch.Dl8t.N0.
l,Wia
In addition to the above we have recorded during the
of April the following sales by municipalities outside
the United States.
Bonds of American Possessions.
Amount.
Price.
Maturity.
Page.
Name.
Rate.
1460. .Philippine Islands.... 4
1905
$3,000,000 101181
10.000 10715
101,800 100
25,000 102-501
115,84811100
100,000 103-31
119*141924
Vol. lxxviii.
month
1914-1924
11923-1933
1924
1953
1911-1916
1
|
Amount.
Plaoe, Ohio (Maroa Uet)
We have also learned of the following additional
the
month
$10,000
sales for
of March.
Additional Mabch Bond Sales.
Amount.
Rate
Maturity.
1458. .Douglas Co.. Kan
$27,000
4^
Name.
1566..Dryden, N. Y
3»a
1459. Houston Helghte.Tex. 5
l459..Maesena. N. Y
1459..Newberne, N. C
4
1460. .Pamlico Co.. N.
5
1462. .Welser, Idaho
S
1 462.. Weiser, Idaho
6
U914-1924
1462..W'ight8ville(Pa.)Soh.
Dist
11909-1934
.
4
1983-1934
1905-1919
1933
1933
1905 1914
Price.
2,500 100
15,000 100
15,283
50,000
50,000
12.800) 100
1Q0
3,200$
9,000
101-50
Total additional 8 ales for March
$184,783
These additional issues will make the total sales (not in
eluding the temporary loans) for March 1904, $14,743,524.
News
Items.
—
Cincinnati, Ohio.— Terminal Bonds Valid. A dispatch
from Columbus to the Cincinnati " Enquirer," dated April
26, states that the Supreme Court on that day held valid the
bond issue of $2,500,000 for terminal facilities and betterments for the Cincinnati Southern Railway. The city of
Cincinnati, by Solicitor Huat, instituted a friendly suit
against the trustees of the railroad to insure the legality of
the issue. One million dollars of these bonds has been issued.
New York City.— Rapid Transit Bills Signed.— Governor
Odell, on May 8, signed two New York City "Rapid Transit"
One of these bills rebills introduced by Senator White.
lates to bridges and viaducts and the other removes the $50,000,000 limit as the amount which may be expended on rapid
transit.
Under the latter Act, as it]now etands, the amount
of bonds which may be issued for this purpose is left to the
judgment of the Board of Estimate and Apportionment,
Comprehensive plans are now in contemplation for the extension of the present subway system.
Ohio. Resolution Eximpting Municipal Bonds from Taxation.—Both houses of tne State Legislature prior to adjournment April 25 passed a resolution submitting to a vote
of the people a constitutional amendment exempting from
taxation all State, county, municipal, township and schooldistrict bonds.
Rhode Island.— Special Session of Legislature. Gov. Garvin on April 21 called an extraordinary session of the General Assembly for September 13 to consider several proposed
constitutional amendments, la the Governor's proclamation
the purposes of these amendments are given as follows :
1. The Constitutional Initiative, which provides that 5,000 elect-
—
ors
2.
may propose speolflo amendments to the State Constitution.
Equal Suffraob, whloh oonfers upon registry voters In cities
the right to vote In the eleotlon of City Council.
8. Tub Vbto Pow bb, whloh enables tne Governor of the State to
check hasty aud vicious legislation.
Bond Calls and Redemptions.
Albany City, Mo.— Bond Call.— Interest will cease May 1
on bonds Nos. 7 to 10, inclasive, each for $1,000, dated November, 1891.
Bethany City, Mo.— Bond Call.— Bond No. 3, dated April,
was called for payment April 15.
.Multnomah County (P. 0. Portland), Ore. — Warrant
Call.— John M. Lewis, County Treasurer, has called for payment all Class "86" warrants drawn on the general fund up
to and including Sept. 14, 1903; also Class "C" warrants
drawn on the road fund up to and including May 10, 1903.
Pierce County, Wash.— Bond Call. Tne County Treasurer h*s called for payment May 19 $20,000 6% 10-20-year (op1898. for $500,
—
tional) bonds.
Platte County, Mo.— Bond Call.— Interest ceased April 1
on 5* bonds Nos. 125 to 186, inclusive, each for $500, dated
of dates of maturity, t Subject to call In and after the
and mature In the later year. & Not|lnolndlng $20,066,876
of temporary loans reported and which do not belong lu the list.
1 And other
II Taken by sinking fund as an Investment.
consider,
October, 1886.
Springfield, Mo.—Bond Call.— This city called for payment April 1 4J({ bonds Nos. 105 to 185, inclusive, each for
$1,000, dated October, 1891.
Vernon Township, Clark County, Mo. Bond Call.— Call
has been made for payment May 10 of %% bonds Nos. 29 to 48,
atlons.
inclusive, dated
*
Average
earlier year
May,
1886.
—— — ——
—
:
May
7.
THE CHRONICLE.
1904.]
Bond Proposals and Negotiations
week have been as follows
Aberdeen, S. Dak.— Bonds Voted.— This
tnia
on April 19
authorized the issuance of |75,000 water-works-improvement
bonds by a vote of 507 to 272; also the issuance of $47,000
sewer-improvement bonds by a vote of 514 to 310.
Adel, tfa. Bonds Defeated. This place recently voted
city
—
against the issuance of $10,000 school-house bonds.
Adrian, Ga.— Bonds Voted.— This town on Apiil 25, by a
vote of 61 to 13, authorized the issuance of $8,000 5% 30-year
school-bcuee bonds. Date of sale not determined.
Adrian, Mian. Bond Offering.— Proposals will be received until 10 a m., May 11, by Dan Fritz, Village Recorder, for $7,000 5% relunding town-hall bonds. Date, May
Denomication, $1,000. Interest, semi-annually at
16, 1904.
Maturity, May 16, 1919. Auoffice of the Village Treasurer.
Bonded debt,
thority, Laws of 1801, Chapter 163, Section 1.
Assessed valuation,
not including this issue, $20,0(0.
Bonds are coupon in form.
$290,127.
Akron, Ohio. Bonds Authorize 1.— The City Council has
authorized the is?uar ce of $2,400 5% 1 year coupon sewer
bonds. Denomination. £500, except one bond for $100. Date,
March 1, 1904. Interest semi-annually at the National Park
Bank, New York City.
Albany, N. Y.— Bond Sate.— On May 3 the $115,000
registered refunding bonds described in V. 78, p. 1585, were
awarded at par, $10,000 to the Commercial Insurance Co. of
Albany and $105,000 to the Washington Park Sinking Fund.
Albany (Ore.) School Di8»r»ct No. 5.— Bonds Voted.—
Tbis district on April 18 voted to issue $20,000 refunding
3^
bonds.
Albn<(uerqne (N. Mex.)School District.— Bond Sale.— On
April 25 the $34,000 4^* 20-30 year (optional) sohool-* uilding bonds described in V. 78, p. 1510, were awarded to N. W.
Harris & Co., Chicago. Denomination, $1,000
Date, July
Interest, eemi-annually in New York City.
], 1904.
Allegheny County (P. O. Pittsburgh), Pa.— Bonds to be
Issved Shortly.— According to local papers the County Commissioner* are preparing to issue $700,000 road bonds.
Alton, 111. Bonds Defeated. This city recently defeated
a proposition to issue $25,000 judgment and funding bonds.
Anadar ko, Okla. Bond Sale.—On May 2 tbis city sold
$80,000 6g sewtr bonds to John Nuveen & Co. of Chicago at
100-160.
Date. June 15, 1904. Denomination, $1,000. Interest, eemi annual.
Maturity, June 15. 1924.
Anaheim School District, Cal. —Bmds Voted. This district on April 9 voted to issue $10 000 school-building bonds.
Anderson County (P. O. Clinton), Tenn.—Bond Offering.
Proposals will be received until 12 M., May 14, by W. L.
Owen, Secretary Road Commissioners, for $100,000 4% coupon road-improvement bonds. Denominations, $100 to $1,000
Date, June I, 1904. Interest semi-annually at the Trustees.'
office in Clinton.
Maturity, June 1, 1934, subject to call
$30,000 in 1920 and $35,000 in 1928. Certified cheoa for $2,000,
payable to W. L Owen, Secretary, required. Bonded debt,
including tbis issu9, $103,000. Assessed valuation 1903,
—
—
—
$2,211,000.
Antloch, Cal.— Bond Sale.— We are advised that this city
on April 25 sold the following bonds to the State Board of
Examiners
$22,000 b% water works bonds, dated Dec 1. 1903. Denomination, 11,000. Maturity. $1,000 yearly. Price paid, «24,10>>.
9,000 6% sewer bonds. Denomination. $400. Interest, June and December.
Maturity, one bond yeany. Price paid, par and accrued interest.
Antrim County, Mich.— Bond Offering,— Eiaoxx M. Olds,
County Treasurer, writes us that bids will be received at any
time for the $26,000 6i court house bonds mentioned on page
1565 of last week's Chronicle. Bonds will mature $5,200
yearly.
Arcadia, Fls.— Bonds Voted— Bonds Defeated.—This town
recently voted to issue $12,C00 so bool- building and $5,000
street-improvement bonds. A proposition to issue $13,000
water- works bonds was defeated.
Arizona. Bond Offering. Proposals will be received until 2 p. M
May 28, by the Board of Control of the Territory
of Arizona for $10,000 5% insane asylum bonds. Denomination, $1,000.
Date, Jan. 1, 1904. Interest, semi-annually at
office of Territorial Treasurer in Phoenix.
Maturity, Jan. 1,
1954, subject to call after Jan. 1, 1929.
Authority, Act No.
78 of the 22d Legislative Assembly of said Territory, which
Act has been approved by the Congress of the United 8rates.
A certified check for 5% of amount bid, payable to E. E.
Kirkland, Territorial Treasurer, required.
Ashland County, Ohio.— Bonds Net Sold.— Owing to the
fact that the issue had not been properly advertised, all I ids
received May 2 for the $35,000 5% coupon bridge r* pair bonds
described in V. 78, p. 1565, were returned unopened. Bonds
will be re-advertised.
Ashmore, 111.— Bonds Voted.— This village on April 19, by
a vote of 69 to 68, authorized the issuance of about §2,700
1-3-year (serial) sewer and sidewalk bonds. Date of sale not
—
,
determined.
Auburn, N. Y.— Bonds Defeated.—The Common Council
has defeated a proposition to issue bonds for school purposes.
Bnldwinsville (N. Y.) School District.— Bonds Defeated.
The election held April 12 resulted against the issuance of
$25,000 school bonds. The vote was 54 for to 101 against the
—
issue.
Md.— Bond
Election.— An election will be held
May 17 to vote on the question of issuing $6,COO,000 dock-improvement bonds at not exceeding 4% interest. We are ad-
Ballimore,
vised tbat the interest rate will probably
Maturity, June
will
:
1797
pay State
Interest,
1954.
1,
oe uitde
Z%%.
Jnne and December.
Cicy
tax.
Barnesville, Ohio.— Bonds Defeated.— The vote at the
on the proposition to issue $25,000 waterworks bonds was 345 for to 286 against a two-thirds vote
being necessary to authorize.
Bay City, Mich.— Bonds Not Sold— Bond Offering.—
are advised that all bids received on May 2 for tne $49,500 4%
local improvement bonds described in V. 73, p. 1585, were rejected as being unsatisfactory and that proposals will be
again received for these securities, this time until 3 p. M,
election April 11
—
We
May
23.
Bay County, Mich.— Bonds
Defeated.
— The
proposition to
issue $150,000 court-house bonds failed to carry at the election held April 4.
Bajlor County, Tex.— Bond Sale— On April 23 the State
Comptroller registered $2,500 44 3-15-year (optional) refunding bonds dated May 12, 1903. These bonds have been purchased by the State permanent school fund.
Bee County, Tex.—Bond Sale.—The $6,500 4% 10-40 year
(optional) bridge bonds registered by the State Comptroller
on April 9 have been purchased by the State permanent
school fund at par and interest.
Belrnar, N J. Bond Offering.— Proposals will be received
until May 17 by Abram Borton, BorOugh Treasurer, for $35,000 4* funding and $25,000 4% improvement bonds. Denomination, $500. Date, Mar 1, 1904. Interest, semi-annual.
Maturity, May 1, 1934. Bonds are to be coupon in form
with privilege of registration. Each proposal must be accompanied by a certified check, payable to the Borough
Treasurer, for 2% of the amount bid. The legality of these
securities will be approved by John F. Hawkins, Esq., of
Asbury Park, whose opinion to that effect will be furmsbed
to the purchaser,
Biddeford, Me.— Bond Sale.— On April 80 the $50,000
10-year coupon refunding bonds described in V. 78, p. 1510,
Co. of Boston at 104-32.
were awarded to Geo. A. Fernald
Following are the bids:
H
&
Geo. A. Fernald A Co.. Boston.. 104 83
10381
Jackson A Curtis, Boston
Perry, Coffin A Burr, Boston. ...10334
K.
C Stanwood A Co..
Mason. Lewis A
Blake Bros.
Blodget. Merritt A CO.,Boston..l02'92
H. Gay
Estabrook
A Co.. Boston
A Co.. Boston
Boston
102-77
A Co., Cleveland
102577
and Boston
Farson, Leach A Co., Bo»ton...l0<:'52
102-373
Bpnjamin Fisher
102-10
Bath Savings Institution
102-' 86
Merrill Trust Co.. Bangor
10V76
Jose, Parker A Co., Boston
ICO 863
Moors A Cabot
10060
8. A. Kean, Chicago
.
B.
Co..
Denison, Prior
Boston... 1 03'2O
Bostoa
108*15
E. 1 1. Rollins A Sons. Boston. .103 058
103-055
N. W. Harris* Co.. Boston
R. Kleybolte A Co.. New York.. 103-04
tt. L. Day * Co., Boston
103039
Co.,
A
Oldham A Co.. Boston.. 102-7 19
W.J. Hayes A Sons, Boston. ...102-61
Merrill.
10292
102-79
Binghamton, N. Y.— Loan Authorized.—Chapter 403 of
Laws
of 1904 authorizes the expenditure of $35,000 for
department purposes.
Ronham School District, Fannin County, Tex.— Bonds
the
fire
Sold in Part.— We are advised that of the $33,000 4* 10-40vear (optional) school bonds mentioned in the Chronicle
Feb. 20, $14,000 hare been placed at par, $12,000 with tne
school fund of Fannin County and $2, COO with the sinking
fund. The remaining $19,000. bonds are still on the market.
Bonds are dated June 1, 1903.
Bronson, Mien.— Bonds Defeated. The proposition to
issue $18,000 water-works bonds failed to oarry at the recent
election April 4.
Brookings, S. Dab.— Bonds Voted.— This city on April 5
voted to issue $20,000 10-20-year (optional) funding and $32,000 10-20 year (optional) water-works bonds at not exceeding 5<t interest. The vote was 323 for to 137 against the
first-mentioned issue and 254 for and 193 against the second.
Buffalo, N. T. Bonds Authorized.—The issuanoe of $50.000 3*4% quarantine- hospital bonds has been authorized.
Date, July 1, 1904. Interest, semi-annually at the office of
the City Comptroller or at the Gallatin National Bank, New
York City. Maturity, $2,500 yearly for twenty years.
Bond BV. Chapter 203, Laws of 1904, authorizes this city
to issne $100,000 refunding temporary loan wat6r-fund bonds.
Burlington, N. J.— Bond Sale.— On May 8 the $23,500 4%
school bonds described in V. 78, p. 1510, were awarded to
Dick & Robinson of New York at 102*18. Following are the
bids:
—
—
A
New York.f24.013 00 Lamprecbt Bros. A Co.. N. Y.?23,919 00
A Co.,N.Y 23,970 00 W. J. Hayes A Sons. Cleve.. 23.664 0O
Burlington, Vt.— Bonds to be Issued Shortly, No decision
has yet been rendered in the suit brought to prevent the issuance of the $58,000 %%<& electric-light bonds mentioned in
the Chronicle Oct. 81. 1903. It was olaimed that the Aldermanic meeting at which these bonds were authorized was
illegal.
We are informed that these securities will shortly
be issued under a new resolution, this being deemed the best
Dick
Robinson.
I
Lawrence Barnum
.
I
—
way to settle the matter.
Burroughs School District No. 19 (P. 0. Conway), Horry
County, 8. Q.—Bond Offering.— Proposals will be received
this month by the Secretary of the Board of Trustees for
$10,000 5% gold coupon school- building bonds. Denominations, $500 and $1,000.
Date, about June 1, 19C4. Interest
annually at the Bank of Conway. Maturity, 1924. The district has no bonded debt at present.
Assessed valuation,
$850,000.
Camden,
until 8 P
N. J.
M.,
Bond Offering.— Propoea's vdll be received
10, by Edwin Ddacrolx, Chairman of
May
Finance Committee, for $200,000 4% coupon or registered
water bonds. Denomination, not less than $1,000, Dite,
June
1934.
1904.
Interest, semi-annual.
Certified check on a national
1,
Maturity, Jane
band
for 5% of
1,
the
—
— —
THE CHRONICLE.
1798
Douglas County, Neb.— Bonds Defeated.— The proposition
amount
of bonds bid for, payable to R, R. Miller, City
Treasurer, required.
Cape May, N. J. Bonds Authorized. The City Council
has passed an ordinance providing for the issuance of $140,000 sewer bonds.
Charleston, Miss.— Bonds Voted.— This town on April 28
voted to issue $5,000 5% 20-year bonds in aid of the Oakland
Charleston
Western Railroad. The vote was 60 in favor
of the issue and none against.
Chase City, Va.— Bonds Not Sold.— No disposition has yet
been made of the $20,000 6<rJ street improvement hoods which
this city has for sale. See V. 77, p. 2120, for description of
bonds. Thos. D. Jeffress is Mayor.
—
&
[Vol. lxxviii.
to issue $200,000 funding bonds failed to carry at t tie election
held recently. The vote, with several precincts missing, was
2,759 in favor of and 8,834 against the question.
—
Dowaglae, Mich.— Bonds Defeated. The proposition to
put out $10,000 city-hall bonds failed to carry at the election
held April 4, the vote being 534 for to 537 against the issue.
Eldon (Mo.) School District.— Bonds Defeated.— This district on April 5 voted against the proposition to issue $10,000
school-house bonds.
Elmhurst School District, Alameda County, Cal.—Bonds
Voted.— This district on April 6, by a vote of 81 to 24, au-
bonds.
thorized the issuance of $6,000 5£ 1-6-year (serial) schoolhouse addition bonds. Date of sale not yet fixed.
El in wood Place, Ohio.— Bonds Authorized.— The issuance
of $10,000 Prosser Avenue bonds has been authorized.
Chelan County (Wash.) School District No. l.—Bond
Sale.— On April 25 $10,000 refunding bonds of this district
were awarded to N. W. Harris & Co., Chicago, at par for 5
Voted. This townsnip on April 12 voted to issue bonds in
aid of the Topeka Frankfort
Northwestern Railroad.
Cheboygan County, Mich.— Bonds Defeated.—The
election
held April 4 resulted against the issnanoe of $12,000 jail
Emmett Township, Pottawatomie County, Kan.— Bonds
—
&
per cents. Interest, semi-annual. Maturity, ten years.
Chicago, 111. Bonds Proposed. The Finance Committe
of the City Council recommends the issuance of $10,275,000
4% bonds as follows: $5,402,064 for the purpose of paying
judgments against the city; $1,947,000 for bridges and other
permanent improvements; $2,925,936 for tunnel purposes.
See V. 78, p. 886, for decision of the State Supreme Court defining the method of figuring the borrowing power of the
city of Chicago, under which decision the issuance of these
bonds is permitted.
Euclid Township, Cuyahoga County, Ohio.— Bonds Defeated.—This township on April 4 voted against the issuance
Chicago (111.), South Park.— Bonds Authorized.— The
South Park Board has decided to issue $500,000 bonds for the
purchase of sites and the improvement of small parks.
Chicopee, Mass.— Bonds Authorized.— An issue of $50,000
refunding bridge bonds was authorized by the Aldermen on
Bond Offering. Proposals will be received
until 12 m , June 1, by
Demland, City Auditor, for
$24,000 5% West Sandusky Street improvement bonds. Danomination, $1,000. Date, June 1, 1904. Interest semi-annually at the Fourth National Bank,
York City. Maturity, $1,000 each six months from June 1, 1905, to Dec. 1,
1912, and $2,000 on June 1 and also on Dae. 1 of the years
1913 and 1914. Accrued interest to be paid by purchaser.
Certified check on a Findlay bank for Z% of the bonds bid for
required.
—
May
2.
Clarke County, Ga.— Bond Sale.—The $100,000 4% gold
road- improvement bonds offered but not sold on April 14
were awarded on May 2 to the Georgia National Bank of
Athens at 102-50. See V. 78, p. 1186, for description of bonds.
Clarke County (P. O. Berryville) Va.— Bond Sale.— On
April 25 the $40,000 4% bridge bonds described in V. 78, p.
Iib7, were awarded to Baker, Watts
Co. of Baltimore at
101 and interest.
Coour d'Alene Independent School District No. 1, Kootenai County, Idaho.— Bond Sale.— On April 25 the $10,000 5;,'
school-improvement bonds desoribed in V. 78, p. 1511, were
awarded to the State Land Department at par for 5 per cents.
Following are the bids
State Land Dept., for 6s
Royal Trust Co.. for 6s
Par
Par
101-60 S. A. Kean, for 6a...
Browne, Ellinwood & Co
Par
MacDonald, McCoy & Co. (6Hs)..Par
Exchange Nat. Bank, for 6s
97'50
&
:
Coboes, N. Y. Loan Authorized.—The Common Council
of this city is authorized by Chapter 471, Laws of 1904, to borrow $100,000 for the improvement of the water supply.
Collingswood, N. J.— Bonds Not Sold.— No satisfactory
bids were received May 2 for the $150,000 4% street and sewer
improvement bonds described in V. 78, p. 1511.
uollinwood, Ohio.— Bond Sale.— On April 18 the $100,000
5% sanitary sewer bonds described in V. 78, p. 1234, were
awarded to Deniaon, Prior
Co. of Cleveland and Boston at
100-728. On the same day the $35,000 5* sewer district bonds
described in V. 78, p. 1278, were awarded to the same firm at
&
100-62.
Bond Offering.— Proposals
will be received until 12 m.
May
by Chas. J. Moses, Village Clerk, for $40,000 5% St. Clair
street improvement bonds.
Denomination, $1,000. Date,
80,
April 1, 1904.
Interest semi-annually at the Cleveland
Trust Co., Ch veland. Maturity, $4,000 yearly on October 1
from 1905 to 1914, inclusive. Accrued interest to be paid by
purohaser. Certified check for \% of the bonds bid for, payable to D R. KiDg, Village, Treasurer, required.
Colnmbns, Ohio.— Bond Sale.— The Sinking Fund Commissioners recently purchased at par and interest the following bonds:
$i0,000 4% electric light bonds. Date. Oct. 20, 1903. Maturity. Sept.
subject to call after Sept. 1, 1913.
10,000 i%% street bonds. Date, June 1, 1903. Maturity, June 1, 1905.
1.
19S3.
Cook Connty, 111.— Bond Sales.— We are advised that of
the $500,000 %%% gold asylum- building bonds, voted in November, 1902, $265,000 have been sold to April 20, the price
being par. This indicates that $57,500 of these bonds have
been placed sinoe the date of our last report, Jan. 27, 1904.
See V. 78, p. 595.
Corona (Cal.) School District— Bonds Defeated.—The
proposition to issue $20,000 6* high-school bonds failed to
carry at the election held April 5.
Cuero, Tex.— Bonds Not Yet Bold.—
are advised that no
disposition has yet been made of the $9,000 4% building bonds
mentioned in the Chronicle March 12. These bonds are the
unsold portion of an issue of $12,000 which was originally
offered for sale laat July.
Decatnr, Ala.— Bona Offering.— Proposals will be received
until May 25 by tbe Mayor for $20,000 20-year schoDl bonds
at not exceeding 5* interest. J. H. Edwards is City Clerk.
Denver, Colo.— Bond Election.— At the oity election May
17 propositions to iasu« $400,000 Auditorium bonds and $1,250,000 bonds to pay off existing indebtedness will be submitted to a vote of the people.
Dolgerille, N. Y.— Bonds Voted.—This village on April 26,
by a vote of 47 to 5, authorized the issuance of $42,000 sewer
bonds at not exceeding 4% interest. These bonds, we are advised, will be offered about July 1.
We
of $17,000 bonds.
Farmersville School
Bonds Defeated.—This
Tulare County, Cal.—
has voted against the issuance
District,
district
of $7,500 school bonds.
Fergus Palls ( Kin n. ) School District.— Bonds Defeated,—
The election Aptil 12 resulted in 218 votes being cast in favor
of and 577 against the proposition to issue $30,000 4% school
bonds.
Findlay, Ohio.
—
Wm.
New
Flathead County (Mont) School District No. 5.—Bond
Sale.— On April 14 $13,000 5<J school building bonds were
awarded to the Union Bank & Trust Co. of Helena at 108*50.
Denomination, $1,000. Date, April 1, 1904. Interest, semiannual. Maturity, April 1, 1924, subject to call after April
1,
1914.
Flushing (Ohio) Special School District.— Bond Sale.—
On April 30 the $15,000 5% school-house bonds described in V.
78, p. 1410, were awarded to Denison, Prior & Co., Cleveland, at 106-833.
Fort Scott, Kan.— Bonds Authorized.—The City Council
recently passed an ordinance providing for the issuance of
10-year internal improvement bonds at not exoeeding 6£ interest.
Fort Worth. Tex.— Bonds Registered.— On April 26 the
State Comptroller registered an issue of $10,000 4% 40-year refunding water- works bonds, dated July 1. 1901.
Fowler Township School District, Ohio.— Bond Sale.—
On April 25 the $6,500 b% school-building bonds described in
V. 78, 1511, were awarded to Hayderi, Miller & Co. of Cleveland at 10405.
Franklin, Tenn.— Bond Election. An election will be held
May 14 to vote on the question of issuing $50,000 waterworks bonds.
—
Garfield (Borough),
N.
J.— Bond Offering.— Proposals
May 18, by Frank E. Kane,
will be received until 8 p. m.,
Borough Clerk, for $15,000 5% coupon or registered municiimprovement bonds. Denomination, $500. Date, July
pal
Interest semi-annually at the Peoples's Bank &
1, 1904.
Trust Co. of Passaic. Maturity, July 1, 1924. Certified
check for 5% of bonds bid for, drawn on a State or national
bank or on a trust oompany, payable to the Borough of GarThe legality of these bonds will be approved
field, required.
by Adrian D. Sullivan, Borough Attorney.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Geary, Okla. Ter.— Bond Sale.— On April 20 the $52,000 6*
30-year water-works bonds described in V. 78, p. 1459, were
awarded to Chas. H. Coffin of Chicago at 105"001.
Geddes Union Free School District No. 2, Onondaga
Connty, N. Y.— Bond Offering.— Proposals will be received
until 10 a. m., May 9, for $47,000 4%% "Solvay High School
Bonds." Denomination, $1,000. Maturity, part yearly on
Dec. 1, from 1907 to 1933, inclusive. Certified check for
$2,000 required with bids. For information regarding these
bonds apply to Lamont Stllwell, attorney, 933 University
Block, Syracuse.
Girard (Ohio) School District.— Bonds Defeated.— The
vote at the election held April 4 on the proposition to issue
$40,000 school bonds was 180 for and 201 against the question.
Glendale School District, Los Angeles Connty, Cal.—
Election.— On May 11 this district will vote upon the
proposition to issue §10,000 school-bulldirjg bonds.
Gloucester, Mass.— Bond Offering.— Proposals will be received until 5 p. m. May 12, by Edward Dolllver, City Treasurer, for $90,000 4% bonds, for the reconstruction and extension of the water mains. Authority, Chapter 451, Laws of
1895, as amended by Chapter 279, Laws of 1901. Date, April 1,
1904.
Denomination, $1,000. Interest semi-annually at the
Bond
,
——
May
7,
— ——
THE CHRONICLE.
1904.]
National Exchange Bank in Boston. Matnrity, $3,000 yearly
on April 1 from 1905 to 1984, inclusive. Bonds are coupon in
form, with privilege of registration. Accrned interest to be
paid by the purchaser. Securities have been approved by
Storey, Thorndike, Palmer & Thayer of Boston, whose opinion will be furnished the successful bidder.
ttraud If land, Neb.— Bonds Not Yet Sold.— No disposition
has yet been made of the $180,000 4% refunding bonds offered
but not sold last July. These bonds, we are advised, will be
re-offered next fall unless sold prior to that time at private
sale.
—
Grand Rapids, Mich.— Bonds Defeated. The proposition
to issue $200,000 school bonds failed to carry at the election
April 4. The vote was 5,119 for and 6,461 against the question.
Grayson Connty, Texas.— Bonds Registered.— An
$1,999 8$ 5-20-year
issue of
(optional) bridge- repair bonds, dated
registered by the State Comptroller on
April 10, 1904, was
April 21.
Gulfport, Miss. Bond Sale,— The $6,000 sewer bonds mentioned in the Chronicle February 27 have been sold, it is
stated, to Chas. H. Coffin of Chicago at 101 688.
Hamilton, Ohio.— Bonds Authorized.—The City Council
on April 19 passed an ordinance providing for the issuanoe
Deof $2,500 4%% 10 year Ross Avenue storm sewer bonds.
nomination, $500. Date, May 1, 1904. Interest semiannually at the offioe of the City Treasurer.
lleber School District, Wasatch County, Utah.— Bond
Sale.—On April 1 an Issue of $10,000 5% school bonds was
awarded to the State of Utah at par. Denomination, $1,000.
Date, April 1, 1904. Interest, semi-annual. Maturity, April
1, 1924. subject to call after April 1, 1909.
Hempstead Union Free School District No. 19, Nassau
Connty, N. Y.— Loan Authorized. This district is authorized to refund its indebtedness by Chapter 445, Laws of 1904.
Hico, Texas. Bonds Registered. The State Comptroller
on April 20 registered an issue of $3,500 5% 15-40-year (optional) city-hall bonds dated March 10. 1904.
Hillsdale County, Mich.— Bonds Authorized. The Board
of Supervisors, it is stated, has decided to issue $25,000 courthouse bonds.
Hollywood .School IDlstrict, Los Angeles County, Cal.—
Bonds Voted.— This district on April 11. by a vote of 106 to
10, authorized the issuance of $50,000 5% 5-29-year (serial)
school bonds of $1,000 each.
Holyoke, Mass. Bonds Authorized. The Board of Aldermen on April 22 passed an ordinanoe providing for the
issuanoe of $80,000 t%% 80-year sewer and $30,0003^% 10-year
highway bonds.
—
—
—
—
(P. 0. Jersey City), N. J.— Bond Offering.
Proposals will be received until 4 p. m„ May 19, by the
Board [of Chosen .Freeholders, {for $500,000 4% gold county
Hudson County
—
park bonds.
Denomination, $1,000,
semi-annually.
terest,
Maturity,
Date,
May
fifty
years.
2, 1904.
In-
Certified
check for $5,000, payable to Stephen M. Eagan, County Collector, on some national bank or trust company, required.
John P. Eagan
is
Clerk of the Board.
bond offering will be found among
elsewhere
the advertisements
in this Department.
The
oficial notice of this
Jackson, Miss.—Bond Sale.—On April 29 the $25,000 5g
building bonds described in V. 78, d. 1459, were awarded to
Fuller, Parsons & 8nyder, Cleveland, at 105*50.
Jadis (Town) Roseau County, Minn.—Bond Offering.—
Proposals will be received until 2 p. m., May 7, by A. Waag,
Town Clerk (P. O. Roseau) for $6,000 6£ coupon road bonds.
Denomination, $1,000. Date, June 1, 1904. Interest annually on June 1. Maturity, June 1, 1910. Authority,
Chapter 36, Laws of 1903. Bonded debt, not including this
issue, $2,500. Assessed valuation, $150,708.
Jersey City, N. J.— Bonds Proposed.—The issuance of
$150,000 additional water-main bonds is being considered.
Joplln, Mo.— Bonds Defeated. At the election held re
cently the question of issuing $88,000 refunding, $30 000 light-
—
plant-improvement and $26,000 funding bonds failed to carry,
not receiving the necessary two-thirds vote. Another election will probably be called in the near future.
Kensington, Md.— No Bond Election at Present.— We are
advised that the Town Council has postponed indefinitely the
matter of holding an election to vote on the question of issu
ing $50,000 ebctrlc-light, water and sewer bonds.
Larned, Pawnee County, Kan.— Bonds Authorized. The
City Council on April 4 passed an ordinance providing for
the issuance of $5,000 refunding bonds at not exceeding 5£
interest. Denomination, $1,000.
Date, Jan. 1, 1904, Interest, semi-annually in New York City. Maturity, Jan. 1, 1914,
Le Mars (Iowa) School District.— Bond Sale.- On April
—
14 this district sold an issue of $23,000 4%% school bonds to
Annis of Council Bluffs, at 101*05. Denomination,
Date, May 2, 1904. Interest semi-annual. Maturity,
$1,000.
10 years, subject to call after 5 years.
Lima (Ohio) School District.— Bonds Refused.— It is stated
in looal papers that Noble, Moss
Co. of Detroit, Mich.,
have refused to accept the $15,000 5£ school bonds awarded
to them on April 6 (see V. 78, p. 1459), alleging that the securities are illegal.
Limestone County (P. O. Athens), Ala.— Bonds Defeated.
—The proposition to issue $100,000 road bonds failed to carry
at the election held April 11.
Squire
—
&
&
1799
Lincoln, 111.— Bonds Voted.— On April 19 this city voted
to issue $25,000 funding bonds, 988 votes being oast in favor
of and 519 against the proposition; the number of those not
voting was 217. Details not vet arranged.
ordiLockland, Ohio.— Bond Ordinance Defeated.—
nance calling a special election to vote on the question of
issuing $13,000 street and sewer bonds was defeated in Council at a meeting held April 18.
Lockport, N. T. Loans Authorized. Chapter 361, Laws
of 1904, authorizes a loan of $5,000 for fire department purChapter 864 authorizes a loan of $4,500 to pay cost of
poses.
An
—
a damage
suit.
C—
Bonds Not Yet Sold.— We are advised
that no disposition has yet been made of the $65,000 water
and light bonds offered without success on Jan. 11. See V.
77, p. 2404, for description of bonds.
Louisville, Ky.— Bond Election.— An election will probably be held this fall to vote on the question of issuing from
$3,000,000 to $3,500,000 %y
2 sewer bonds.
McCracken County, Ky.— Bond Election.—The Fisoal
Court, It is stated, ha? decided to submit the question of issuing $100,000 road-improvement bonds to a vote of the people at the next election.
Madisonvllle, Ohio.— Bond Sale.- On April 26 the $8,300
5% 20 -year debt-extension bonds described in V. 78, p. 1288,
Mayer, Cincinnati, at 111*63.
were awarded to Seasongood
Mansfield, Ohio. Bond Offering.— Proposals will be received until la m., May 31, by D. S. Koontz, City Auditor, for
the following bonds :
Loulsburg, N.
<t>
&
$19,1.00 6* 1-5-year (ferial)
15,0i>0 *% 1-6- year (serial)
3,000
2,200
1,800
1,600
2,600
600
•5,000
•ltt.OOO
East Second Street assessment bonds.
Sherman Avenue assessment bonds.
5* 1-6-year (serial) Nortb Bowman Street assessment bonds.
b% 1-6- year (serial) filairmont Avenue street assessment bonds.
6% 1-5 year (serial) Franklin Avenue assessment Donds.
6% 1-10 year (serial) Lilly Street assessment bonds.
5< 1-6-year (serial) West Fourth Street assessment bonds.
B* l-5-year (serial) Flint Street assessment bonds.
5% 1-5-year (serial) Sherman Avenue Improvement bonds.
6% 1-5-year (serial) East Second Street improvement bonds.
*t 1-6- year (serial) North Bowman Street improvement bo»ds.
•l.OOn
•1.210 6% 1-fi-year (serial) Clairmont Avenue improvement bonds.
•100 6*t t-5 year (serial) Franklin Avenue Improvement bonds.
•600 5% 1-10 year (eerlul) Lilly Street improvement bonds.
•500 6% 1-5-year (serial) West Fourth Street Improvement bonds.
6;t 1-6-year (serial) Flint Street improvement bonds.
500
6,000 6% 1-3 year (serial)
1,3'0 51 1-8-year (serial)
4,000 b% 1-3-year (serial)
1,500 t% 1-3- year (serial)
6C0 b% 1-3-year (serial)
*
sewer assessment bonds.
sewer assest-nient bonds.
sewer assessment bonds.
sewer assessment bonds.
sewer assessment bonds.
These bonds to pay cost of
city's
proportion of proposed Improvements.
Denominations from $100 to $1,000. Interest, annual.
Certified check on a Mansfield bank for 10£ of the bonds bid
for required. Bids to be made on blanks furnished by the
City Auditor.
Marion, Ohio.— Bonds Authorized.—On April 18 the City
Council passed an ordinance providing for the issuance of
health-expense bonds. Denomination, $500. Date,
$11,000
June 1, 1904. Interest annually at the office of the City
Treasurer. Maturity, $1,000 Sept. 1, 1904, and $2>,0C0 each
H
six
months from March
1,
1905, to
March
—
1,
1907, inclusive.
We
Masslllon, Ohio.— Bonds Not Sold Bond Offering.—
are advised that, owing to the Bale not being advertised a
sufficient number of times, the $50,000 4}4% street-paving
bonds were not awarded on April 30. These bonds will be
re-advertised to be sold at public auction on June 3. See
V. 78, p. 1459, for description of bonds.
Mauch Chunk (Pa.) School District.— Bonds to be Taken
by Local People.— We are advised that the $30,000 schoolbuilding bonds voted at the recent spring election will, when
issued, be taken by home people. Denominations, fifty of
$100, thirty of $500 and ten of $1,000 each. Date, Nov. 1,
Interest, %%%, payable semi-annually.
1904.
Maturity,
Nov. 1, 1934, subject to call after three years.
Medina, Ohio. Bond Sale.—Oa April 25 this village sold
$6,000 5% llj^-year (average) street-improvement bonds and
$5,350 5% 83^-year (average) street-assessment bonds to the
Western German Bank of Cincinnati at 106*86.
Middlesex County, Va.— Bond Sale.—
are advised that
the bonds authorized by the State Legislature to rebuild the
jail and olerk's office have all been taken by local parties.
MUlbank, S. Dak.— Bonds Voted. -On April 19 this city
voted to issue $23,000 5% 10-20-year (optional) water-works
bonds. Date of sale and other details not yet determined.
Millers Falls Fire District, Mass.— Bonds Authorized.—
At a meeting held in this fire district recently, an issue of
$5,000 4% bonds was authorized.
We
Minnewankon School
— Bond
Sale. — An issue
District, Benson County, N. Dak.
of $5,000 4% 10-year school-house
bonds has been sold at par to the State Board of University
and School Lands. Interest, January and July.
Mitchell, S. Dak.— Bonds Voted.—This city on April 19
authorized the following 5% 10-20-year (optional) water and
sewer bonds:
$10,000 water bonds by a vote of 363 to 186.
flO.UOO sewer bonds by a vote of 346 to 126.
Montcalm County, Mich.
Bonds Defeated.—This county
at the reoent spring election defeated a proposition to issue
bonds for a new jail and sheriff's residence.
Montgomery, Ala,— Bond Election. The City Council has
passed an ordinanoe calling an election May 9 to vote on the
question of issuing $100,000 school, $200,000 water-works-extension and $50,000 sanitary-sewer-extension bonds.
Montpelier, Ohio.— Bond Sale.—Oa April 25 the $4,200
sewer bonds described in V. 78, p. 1288, were awarded to
Feder, Holzman
Co. of Cincinnati, at 106*07.
Montrose, Pa.—Bond Offering.— Proposals will be received
until 12 m., May 14, by H. A. Denney, Secretary Borough
—
U
&
—
—
:
THE CHRONICLE.
ISOO
Council, for $1,700 4% road bonds. Denomination, $100. InMaturity, $200 in ten years and $500 yearly
terest, annnal.
Following
[Vol. lxxviii.
is
a
f
thereafter nntil paid.
Morris Township School District (P. O. Morristoirn), N.
J. Bond Offering.— Proposals will be received until 10 A. M.
to-day (May 7) by the Board of Education, Charles R.
Whitehead, Clerk, for the following bonds authorized under
the provisions of Article 7 of an Act aproved Oct. 19, 1903:
18,003 4* coupon bonds, maturing M00 yearly from 1914 to 1929. Inclusive.
12,000 4% coupon bonds, maturing $500 yearly from 1W14 to 1921, Inclusive,
$1,000 yearly from 1922 to 1929, Inclusive.
and
J.
4 W.Sellgman4
and Edward
Sweet4Co., New
C
>.
York City
&
&
&
We
,
—
1
Kidder. Peabody 41
Co., Baring. Ma- j 32,000,000. 100*7t>13
goun 4 Co. and Any or all of 195 1.
Fisk 4 Robinson, J
;
Jr;*rH
K^fhrfr
Nat. City Bk.and
'
Vermilye
4 Co... J
~
n
f
>££
»„°H
irce and
UrS?F;t
*irrBB t V
Nat
S.
'
M
A11 or any. 100*08
41
A " °™one.lOO
or any 100*05
AU „..,,„',
A11
ion-/!?
An
'
Barney
Frederic S. Barnum.
Fred.
Jr
Charles Wheatlev
Cathinca B. G uernsey
Ham
I
Gallert
4 Heller....
<
I
f
Schafer Bros
i
1
I
Frank Squire
Edwin K.Sommer...
".
Sap. Looge. C.S. P. S.
A. Banks 4 Co
Chas. G. Gates 4 Co.
Barbara Campbell....
L.
Thomas
Farley
Frederic
S.
J.
ackson
4
Cnrtls,
Boston
Denison, Prior
and Boston
4 Co., Cleveland
102*03
102*60
North Hrooklleld, Mass.— Loan Authorized.
—At a
t
own
meeting held April 9 a loan of $10,000, re-payable $5,000 in
1912 and $5,000 in 1913, was authorized.
Norwich, N. Y.—Bond Sale— On May 2 the $6,000 4%
coupon street bonds described injV. 78, p. 1514, were awarded
$500 to E. D Baker and $5,500 to Geo. T. Danham, at par
and a premium of $5.
Oakland (Cal.) School District.— Bonds Voted.—The election April 23 resulted in a large majority being in favor
of issuing $960,000 4% 1-40-year (aerial) bonds for school purposes.
Obion County, Tenn.—Bond Resolution Defeated.—The
County Court has voted against the issuance of $100,000
bonds for the purpose of erecting
steel bridges to replace the
wooden ones now existing in various parts of the county.
New York City.— Bond Sale. -On May 3 the $32,000,000
3^* 50-year corporate stock (48 issues) and the $5,000,000
V/2 t 10-year assessment bonds described in V. 78, p. 1513,
were awarded at an average price of 10094 for the long-term
and 10)'13 for the short-term bonds, the basis of sale being
about 8*461£ and 3*48^, respectively. Ninety-eis<ht bids were
presented, the aggregate being $126,071,950, not duplicating
bids for " all or none" of the bonds and which had to be accompanied by alternate bids for " all or any part." This is
the first sale under the law passed by this year's Legislature
permitting, under certain contingencies, the acceptance of
" all or none" bids. The awards are as follows
:
Maturing
$32,000,000 914% Corporate Stock
Frederic
S.
ISumuin
$600.. 102*00
500 101*00
\
fl,0r0,0OO..101S8
1.OOO.O00.. 101*48
1,<00,I'OH.. 101*48
J.
4 W.
Sellgman
Sweet
4
4
Edward
Co. and
Co...
l,OuO,OJ0..101*8S
1,"0",000.. 101*38
1,000,000.. 101*28
l,'*00,O.0..1"l*l3
1,003,000.. 101*03
1. "OO. 000.. 100*93
L 1,000,000.. 100 >-8
Charles Whe.-uly
2U.O00.. 101-26
Sup. Lodne, C.8.P.S.
1,000.. 101*00
J6.000.000
Alanson
Fred.
S.
Horn
Uarnov...
Jr
CatbinoHll (iuernsey
Fritik Squior
Kdwln K Summer ....
Cha.s G. Gates
4 Co..
Barbara Campbell
.1
\V.
Murphy
Kwd.
C. Moen, Trust.
Sophia R Burnli.im...
Bernard It Mmmberg
F. I'ircy Vnil
l..\Volfl"ii
Bailey
& Graham
Oallert
4
8"0..100 76
6,000.. 1*0*75
26.000.. 100*73
10,000.. 100*60
^0,000. .10106
2OO.0C0 .10100
2>.0O .ici-oo
.
1,500. .10100
1.000. .101*00
10,000. .101*00
60,000. .101*00
r
,
Baring,
4
Flsk
4
Co.
Ma-
ieS,600.100*7913
and
Robinson.
3K* Assessment Bonds. Maturing
$4,0 |, 0.. 103*00
50. .102*00
6.0oO. .101*85
10O.0O0. .101'' O
10.000. .101*
30,000.. 101*00
100 .101*00
10,000.. lOl'oO
1,0.0.. 101*00
26.000.. H075
$16,000. .101*21
15,000. .100*96
Loan Co
United *'«I. Bank.
Kidder Peabo iy &
goiui
Joseph EL Kink
1914.
.
$1,000.. 100*60
Dauphin Deposit Bk.
Of Harrlsburg
Ambrose K. Ely
.
I.
ist'ph
Nelson
John Irving
Richmond Co. Mutual
Ins Co
ii
Leer burger. Bxeo.
Harvey Kisk 4 Sons,
100,000. .100*875
lOi'.OO')..
100*80
2.500.
.10030
r.,000.
.100*20
1,600. .100*15
2.000.. 100126
ii- 4 Co.
K iilm.
J.oeb4Co..Nat.Clty
Itk. ami Vermilye 4
S|>c\
Co.. New
York
f
I
H.Rosenblatt....
8.
•;
I
W. Murphy
.
+100.. 101 00
1,500.. 101*00
1,000.. 101*00
500. .101 OO
10,000.. 101*00
10,000.. 10 1*00
•1,000. 101 00
60.000.. 101*00
60.000.. 100*50
SO0.0JO 100*7tf
250.1X'0.. 100*77
+25,00''.. 100*75
Percy Vail
Bernard
B.
(-R. T...
<
Docks.
10075
10076
•6.000.
+300.
Bromherg
L. Wolfson.
W
2>,000 10
25,000 100*36
+100,000.. lOOSO
Joseph Nelson
+ J.500.. 100*30
Edgar T.Gaddls...
1.000 .100*30
1". 000.. 100-20
10 000.. 00*25
C. I. Hudson 4 Co 10,000 .100*80
Samuel B. Howard.
100.000.. 100-2 7
Kings Co. Trust Co. j 200,' CO.. 100*27
800.000.. 100-17
Thomas Denny * Co. 500,' 00.. 100*26
K- lc«erbockorTr.Co. 500,000.. 1C0*25
Albert Goldman
10,000.. 100-25
Buckingham
Ambrose K. Ely....
1
A.F
Lobd-11
f
25.0U0i
25.000 100*75
25,000
Samuel Wilcox
100*75
1,000
5,000.. 100*i!6
20.. 100*251
20.. 100*24
20.. 100*23
20 .100 22
John W. Sheppard.
•;
11*00
1,000.. 101*00
2o,O00.. 101*00
+33.0>0.. 10 1*00
...
Rhoades 4 Richmond
T. VV. Stephens 4 to
Sophia R. Burnham..
Guardian Trust Co
Dauphin Dep. Bauk
+100,000 100*375
of Harrisburg
'
25.000 100*25
Estate of Oliver
*30
1
»10,0O)
100,000.. 100*10
30.000. 100*50
loO.cOO.. 100065
100,0 >0*li 0*0325
r00,000.. 100*113
10 J.000.. 100*376
William Heitzman...
Orange Co. Tr. 4 Safe
Dep. Co
V0.. 100*20
20.. 100* 18
20.. 100*16
20.. 100*14
20.. 160*.
20.. 100*10
600. .100*26
100.000.. 100*25
20.000. 100*^6
100.UOO..
100 25
)
fichnllft Bros
tscnoiie
100.000 100*125
j
100*21
6,000.
Gpo
A
Stnnn
5
ueo A. btone
6.00O.. 100*16
}
Philip Kern Jr
8.000. .10020
J. S. Bache4Co
1,000.000.. 100*20
John Irving
+5,000.. 100**0
Geo. R. Teller
60. 000. 10'* 176
J. Frederick Smith...
8,000.. 100 15
Jacob
Barnes
10,0i0..100'15
Joseph Barnes
lo.ono.. 100*15
200/00.. 100*16
f
200.01)0.. 100*1*
2 10.00".. 100*13
Windsor Trust Co.
200, 000.. 100* 12
100,0)0.. 100*11
100,000.. 100*10
Ely
B ros
.
Rns
.
U
Edith A. Cavanagh...
10,000 100*76
Hamilton Trust Co... 200,0 10, I(i0-n25 Richmond Co. Mutual
InsuranceCo
+1.500. .100*15
Brooklyn Bauk
10O.000 100*625
100,000 1-.iO-.-MJ6 Chan. W.Chase
ciO.000.. 100*126
li.Vf. Morrison
.
f
Wolf
Bros.
4 Co....
I
Albert Loeb 4 Co
Henry D. Wtnans
Savoy Fire
Ins.
..
100.0OC. 100*612
100,0 0.. 100-66)
lOO.OOO 1 00*51 1
John
Drug Trade Club
4 Graham ....
M.Alexander
Yates. Ritchie 4 Popo
Bailey
Hooker
100,Ij00.. 100*403
Earlville...
10",00O..l<iO**ll
1 00,000.. 100-3M2
100,000. .100-311
100,000.. 100*<!62
100,000.. 1O0-211
100,000. 1 "0*162
600,000.. 100-62
H'.OOO.. 100*51
John U. Dewes
Forest Glenn
G. Bernheim
eO/V)*).. 100*50
10,00).. 100*60
10,000.. 100*60
8,000. .100*50
tIO.OOO.. 100*60
10,0t0 .100*60
60,000. .10o*50
+1.000.. 100*60
76,000. 100*60
Jr..
1,000.. luO-125
+2.C00.. 100185
100*12
10,000
30,000.. 100*10
600.. 103- 10
C5.CO0.. 10010
50,000. 100-O2
io.oco..io*oe
E.
10,000.. 100*07
10,0 O.iOJ'08
lu,000..l"0*09
10.000.. 100*10
Iron Nat. Bk.. +100.0O0.. 100*00
Naumburg 4
Corp
of A le-rannria, Va.
Ge>. S Sands
William Ebling
B.
H. I.eerblnger. eiec.
Fir»t National Bank,
Coal
4
Co.
{
Union Assurance Socletv of London ...
Est. Morris S.Ul man
County Tr. Co., White
70,000.. 100*00
50.000.. 100*0)
80.000.. 100*00
•26,e00..lu0*00
»26.000.. 100*00
*15,Oo0..1oo*O0
Geneva Nat. Bank
Seligsberg 4 Co
Flour City Nat. Bank
9,800. 100*00
Bids marked * were for assessment bonds of 1911; those marked + were for
designates bids calling
any stock or bonds; all others were for stock of 1954
Jos.
H. Fink
Plains...
.
Kautman S. Falk
Jesse M. Falk
.
.
for coupon bonds.
Bond Issues.— The following
issues of corporate stock of
City were taken by the sinking fund as investments during the month of April
New York
:
Purpose
Interest Rate.^Maturitv.
3
1W>3
Fire Department— Sites and bulldlngi, etc
Hall.
Queeus
1953
8
Site for Borough
Consrutction and equipment public comfort sta1963
8
tions. Brooklyn
3
1953
Water fund, Brooklyn
1H68
3
Water fund, Richmond
Seward Para. Hester Street
3
1953
William
1963
3
Criminal Court Buildlnif
1953
Public park. Twelfth Ward, 145th-155th -streets.... 3
Expenses of CommlBSloners of Estimates and Ap1953
praisals...
3
Department Street Cleaning— New plant— Ktcbm'd 8
1953
1963
Bridge across Prospect Ave. at Sully St., Brooklyn. 3
1953
3
Water main fund, Brooklyn
H
Total
Amount.
$21,000
32,000
8 000
10,000
15,000
6.300
10,000
49
2.000
5,000
1,600
5,000
$115,849
In addition to the above bonds, the following " revenue
bonds" (temporary securities) were issued and taken by the
public
Int. Rate,
Revenue bonds-Special
Kevenue bonds-Special
Revenue bonds-1904
Revenue bonds— 1904
4
Amount.
$12,160
JS9.000—
$39,160
13,780,000
4.000,000-17,780,000
3H
3*y
*>*
1951.
Heller...
Schafer Bros
A. I"n»ks4 Co
I* MiuiKlewIcz
Thomas Farley
Industrial Saving! A
Co
+5.000 101*25
15,000.. 10PU1
16,000.. 100*90
15,000.. 100-71
10,000.. 100*4«
600,000.. 101*05
200,000.. 101*00
200,000.. 100*75
100,000.. 100*60
+100 00. .101*00
Barnum..
Indus. Sav. 4Ln Co..
Ewd. C. Moen.Tru.s-.
United Nat. Bank., i
F.
•4,000.. 1C3 00
600.. 10200
+50.. 102 00
22,000.. 101*25
Mankiewici
&
K. H. Rollins 4 Sons, Boston... 102936
10289
Benj. Fisher, Boston
.
I
NafUk
Alanson
— We
Louis de L. Oppen$10.000.. 10V50
helmer
Henry M. Sanders
5,000.. 100*25
\
1.000,01 0. 101-.-J3
1,000,000.. 101 28
1,000,000.. 10113
1.000.000.. 101*O3
1,000,000.. 100iH
I 1.000.000.. 100*83
April 5 resulted against the proposition to issue $34,000 water
bonds. The vote was 104 for and 61 against the issue.
Mount Holly, N. J.— Bonds Not to Be Issued at Present.
are advised that the $15,000 4% l-30-ye»r (aerial) paving
bonds, voted at the election held March 22, 1904, will not be
ready for issuance for some time.
Monnt Joy (Pa.) School District.— Bonds Voted.—The
election held April 19 resulted in 175 votes being cast in favor
of and 63 against the issuance of $12,000 Z%% school-building
bonds. Date of sale not yet determined.
are advised that
Mount Pleasant, Mich.— Bond Sale.
the $8,000 4% cement sidewalk bonds described in V. 78, p.
Co. of
1513, were awarded on May 2 to Denison, Prior
Cleveland at a price not Btated. Other bidders were Rudolph
Kleybolte
Co., Cincinnati; G. F. Braoeley, Grand Rapids;
S, A. Kean, Chicago; W. J. Hayes & Sons and Fuller, ParSnyder of Cleveland.
sons
are
Napoleon, Ohio.—Bonds Not Sold— Bond Offering.—
advised that, owing to an error, the $25,000 4-^ electric-light
and water-works-improvement bonds described in V. 78, p.
1513, were not sold on May 3, and that proposals will again
be received for these securities, this time until 12 M June 7.
Newbnrgh, N. Y. Bonds Authorized. The issuance of
$8,000 4% 1-10 year (serial) registered street-assessment bonds
has been authorized. Denomination. $800. Authority, Section 5, Cnapter 87, Laws of 1893. Date of sale not yet determined.
Niagara Falls, N. Y.— Bonds Voted.— On May 3 this city
voted to iesae $17,000 4% fire-department bonds, Di,te of sale
and other details not yet determined.
Norfolk County, Mass.— Bids.— Following are the bids received April 26 for the $100,000 4% building bonds awarded,
as stated last week, to Blodget, Merritt
Co. of Boston :
102*597
Blodget. Merritt 4 Co.. Boston. 10331
R. L. Day 4 Co.. Boston
102*40
Merrill. Oldham 4 Co., Boston.. 1W28P Parkinson 4 Burr, Boston
103-10
Blake Bros. * Co.. Boston
Trowbridge 4 Niver Co., Bost..l02*il?
108o9 Adams 4 Co., Boston
N. W. Harris 4 Co., Boston
10206
—We
the bids received
)
January 1 and July 1 at
the National Iron Bank, Morristown, and all bonds bear interest from date of delivery.
Mountain View, Cal.— Bonds Defeated.—The election
Interest on both issues payable
full list of
$1,000,000. 101*53
1,000,000. ior«8
i.oio.coo. 1 '1*43
1.000,000. 101-34
,
Harvey,Fisk4Sons j
1
2
)
.
4,582,660. .100*08
Total
$17,819,160
Oliver County (P. O. Center) No. Dak.— Bond Offering.—
Proposals will be received until May 9 by Wm. V. Kiebert,
County Auditor, for $5,000 Q% court-house bonds. Authority,
Sections 2043 to 2067, inclusive, Laws of 1899. D .-nominaDate, May, 1904. Interest, aanually in May.
tion, $1,000.
Maturity, May, 1914. County has no debt at present except
|500 fl )atiug debt. Assessed valuation 1903, $590,460.
Orange, Texas.— Bonds Not to Be Issued at Present.
We are advised that, owing to a technical error, tne Fire Department bonds mentioned in V. IS, p. 1289, as having been
voted, will not be issued until the error is corrected.
Otvensboro, Ky.— Bonds Not Yet Sold. We are advised
that this city has not yet sold the $193,000 4% coupon waterworks bonds described in V. 78, p. 1514, although rumors to
that effect have been published in some of the papers These
bonds are for sale by Martin Yewell, Mayor, and a description of the same may be found in V. 78, p. 1514,
—
—
Pudacah, Ky.— Bonds Validated— Bond Offering.—-D. A.
brought to deter-
Yeiscr, Mayor, infoinn us that the suiu
———
.
May
7,
THE CHRONICLE.
1904.]
validity of the $200,000 4% improvement bonds
voted at the November, 1903, election has been decided in
both the Circuit Court and the Court of Appeals in favor of
mine the
the bonds. These bonds are now being offered for sale by
the Mayor and by Alex. Klrkland, City Auditor. They will
mature in thirtyyeara. Interest, semi-annaal.
notice of this bond offering will be found
the advertisements elsewhere in this Department.
The
official
among
Faonla, Colo.— Bond Sale.— We are advised that the $40,DOO b% 10 20-year (optional) water-works bonds desccribed in
V. 78, p. 1411 and 60, were sold on April 14 to O'Brian &
Rboades of Denver at 95.
Pasg School District, Los Angeles County, Cal.— Bonds
Voted. This district, situated in Colegrove, on April 11
—
authorized the issuance of $8,000 school-house bonds.
Paterson, N. J.— Bond Sale.— Oa May 2 the $75,000 4i
police station and renewal bonds described in last week's
Chronicle, p. 1568, were awarded to Farson, Leach & Co. of
New York at 101 '58. Following are the bids
:
Far§on. Loach ACc.lNew York.101'63
Peterson Safe Dep. & Tr. Co... 101*10
W.I.I,
lluyee
&
Song. Cleveland. 100*39
1801
the question of issuing $75,000 water-works bonds. No details of these bonds have as yet been fixed upon.
are advise! that
Rockwall County, Tex.— Bond Safe.—
thi3 county has sold $1,999 4£ bridge bords to the County
Permanent School Fund at par. Date, Nov. 10, 1903. InDenomination, three bonds of
terest, annually in April.
$500 each and one for $499. Maturity, Nov. 10, 19! 9.
Rodgers (Tex.) School District.— Bonds Voted.— This
district on April 16, by a vote of 98 to 87, authorized the
issuance of $12,000 5$ scbool-buildlng bonds.
We
Rolfe(Iowa) Independent School District.— Bond Offering.— Proposal will be received at any time for the private
Bale of $10,001 4J^£ 5-10 year (optional) coupon school-build-
D
jnomlnation, $1,000. Bonded debt, this issue.
ing bonds.
Lemon is Secretary
Assessed valuation 1904, $242,329. J.
Board of Education.
Sag Harbor, N. Y Bond Sale.—The following bids were
received on May 3 for the $24,000 electric-light bonds described in last week's Chronicle, p. 1568
K
—
:
N. W. Halsey & Co.. New York, 100*13 for 8 flW bonds.
S»g Harbor Savings Bank. Sag Harbor, par for 9'V5% bonds.
N. W. Harris & Co- New York, par for I*»l>S bomds.
Geo. M. Habn, New York, 10137 for % bonds.
W. J. Hayes & Sons, Cleveland, 101*00 for 4* bonds.
-
We are advised that the bid of N. W. Harris & Co. was
withdrawn by them and the bids of Geo. M. Hahn and W.
district, at the election held April 12, voted to issue $60,000 J. Hiyee & Sons were rejected for {reasons not stated.
The
school- house bonds.
bonds were awarded to N. W. Halsey & Go. of New York.
Pittsburgh, Pa.— Bond Offering.— Proposals will be reSaginaw, Mich.— Bonds Authorized. The Common Counceived until 3pm, May 20, by John B. Lirkin, City Comp- cil has passed a resolution authorizing the issuance of $37,925
troller, for the $1,122,278 4% coupon judgment bonds men4% 20-year bridge bonds to be dated June 1, 1904.
Denomination, $1,000.
tioned in last week's Chronicle,
St. Clere Township (P. O. St. Clere), Pottawatomie
D ite, June 1. 1904. Interest, semi-annually at office of City County, Kan.— Bonds Voted.— On April 12 this township by
Treasurer. Maturity, one-sixth of the issue payable each five a vote of 49 to 18 authorized the issuance of Q% 20-year bonds
years from Jane 1, 19J9, to June 1, 1934, inclusive. Each in aid of the Topeka Frankfort & Northwestern RR.
proposal must be accompanied by a certified check for 5% of
Sandisky, Ohio. Bonds Authorized.—The City Council
amount of bid. These bonds are not free of tax.
on April 22 passed an ordinance providing for the issuance
Pendleton (Ore.) School District.— Bonds Voted.— This
—
(Pa.), Bel tz hoover Sub-School District.—
will be received until 8 P. M., May
11, by John T. Hughes, 23 Industry Street, Pittsburgh, for
$30,000 4% bonds free of tax.
Pittsburgh
Bond Offering.— Proposals
Pottstown (Pa.) School District.— Bonds Offered.—This
m yesterday (May 6) an issue
of $34,000 3%i refunding bonds. Securities are dated June
1, 19J4, and the interest will be payable semi-annually.
Principal will mature on June 1 as follows: $4,000 in 1909,
$5,000 in each of the years 1914, 1919, 1924 and 1929, and $10,000 in 1934. Bonds are free from all taxes. At the hour of
going to press we had not learned the result of this sale.
Prairie Depot, Wood County, Ohio.— Bonds to be Issued
Shortly.— This village will shortly issue bonds for street imdistrict offered for sale at 8 p.
provements.
Prospect Park (Borough) Delaware County, Pa.— Bond
Sale. -At a recent meeting of the Borough Council the $13,OuO 10 30-year (optional) coupon improvement bonds originally offered as four per cents on March 30, were awarded at
100*80 for 4% per cents to Charles Boyd Galloway. See V.
78, p. 1188, for details of bonds.
—
troller, for
the following 4% registered bonds
:
$50,000 i% fire bonds, maturing 12,000 yearly on May 1 from 1905 to 1914, inclusive, and $3,000 yearly on Mav 1 from 1915 to 1924, inclusive.
76,030 4*"S Fewer bonds, maturing $3,000 yearly on May 1 from 1905 to 1914, Inclusive, and $4,000 yearly on May 1 from 1915 to 1919, inclusive, and
$5,000 yearly on May 1 from 1920 to 192«, inclusive
60,000 4jt deficiency and assessment bonds, maturing $5,000 yearly on May 1
from 1916 to 1924, inclusive.
Denomination, $1,000. Date, May 1, 1904. Interest semiannually bp check. Certified check for 6% of the total
amount of bonds bid for, payable to the City Comptroller,
required.
Bonds Not to be Issued at Present.—The $110,000 water
bonds recently authorized will not, we are informed, be issued until September.
Schoharie Union Free School District No. 1, N. Y.—Bond
Sale.— Oa April 29 the $20,000 4% 1-20-year (serial) school
bonds described in V. 78, p. 1461, were awarded to Geo. M.
Hahn of New York City at 10053. Following are the bids
100*63
100*00
Schoharie County Bank
Geo. M. Habn, New fork.
:
Pueblo County (tolo.) School District No. 20.— Bonds
Voted.— This district on April 11 voted to issue $100,000 high-
I
3.
100*02
A. Kean, Chicago
|
Shenandoah, Pa.— Bonds Voted.
school bonds.
Racine, Wis.— Bonds Defeated.—The election April 5
re-
sulted against the question of issuing $25,000 fire-enginehouse bonds.
Randolph County, {Ja.— Bonds Defeated.—The proposition
to issue $15,000 jail bonds did not receive the necessary twothirds vote at the election held April 5.
Red Hirer County, Texas.— Bonds Registered.—The State
Comptroller on April 23 registered an issue of $1,975 b% courthouse repair bonds, dated Feb. 12, 1904, and maturing Apr. 10,
1906.
Rensselaer County, N. l.—Loan Authorized.— Chapter 347,
of 1904, authorizes this county to borrow $503,000 for
road purposes.
Reynolds (Town), P. O. Long Prairie, Todd County, Minn
Laws
—Bond Offering,— Proposals will
be received until 2 p.m.,
May 14, by C. E. Gutches, Town Clerk, for $1,700 6* bonds.
Denomination, $288 33, except one bond for $283 35. Date,
Deo. 1, 1903. Interest annually in Long Prairie. Maturity,
one bond yearly on D.-cember 1 from 1905 to 1910, inclusive.
These bonds were offered on Jan. 2, 1904, but were not sold
at that time.
Richland County, Ohio,—Bonds Defeated.— Oa April 18
the people of this county voted against the three bond propositions submitted to them.
Richland County (P. O. Mansfield), Ohio.— Bond Offering.
—Proposals will be received until 1 p. m., June 1, by the
Board
of $5,500 4% 6-year restraining-wall bonds dated May 1, 1904.
Interest, semi-annual.
Schenectady, N. Y. Bond Offering. Proposals will be received until 11 a. M,, May 25, by O. S. Luff man, City Comp-
—This
borough on April
27 authorized the issuance of $30,000 4% school and refunding
bonds.
Sidney, Ohio.— Temporary. Loan.— On May 2 the $5,400 5jg
certificates of indebtedness described in V. 78, p. 1515, were
awarded to the German- American Bank and The Citizens'
Bank of Sidney at par.
Snohomish (Wash.) School District.— Bonds Defeated.—
This district on April 9 defeated a proposition to issue
$5,5C0 school Q-onds. The vote was 47 for to 195 against.
Somerset, Perry County, Ohio.—Bond Offering,—Proposals will be received at any time by the Village Clerk for
$3,000 62 street-improvement bonds authorized at an election
held on April 4 by a vote of 167 for to 28 against the issue.
Interest,
March
1
and Sept.
1.
Springfield, Ohio.— Bonds Authorized.—The City Council
on April 12 passed an ordinance providing for the issuance of
$6,000 4% coupon city-prison improvement and equipment
bonds. Denomination, $1,000. Date, May 1, 1904. Interest,
March 1 and Sept. 1 at the office of the City Treasurer. Maturi y,
March
1,
1910.
Stonewall County, Tex.— Bond Sale.—The State Board of
Education has purchased at par and interest $27,240 4% 10-40year (optional) refunding bonds dated April 10, 1901. Bonds
were registered by the State Comptroller on April 26, 1904.
Strasburg, Va.— Bond Election,— About the middle of
May an election will be held in this town to vote upon the
question of issuing the water- works bonds recently author-
Commissioners— George H. Weidner, Clerk— for
bridge bonds. ; Denomination, $500, Date, June 1, ized by the State Legislature.
1904. Interest, April 1 and October 1 at the office of the
S wanton 8p cial School District, Fulton County, Ohio.—
County Treasurer. Maturity, $3,500 each six months from Bond Sale.— Oa April 11 the $30,000 5% school-house bonds
April 1, 1905, to Ocober 1, 1921, inclusive. All conditional described in V. 78, p. 1290, were awarded to P. S. Brigga &
of
$85,000
4%%
bids will be rejected. Certified check for 1% of the par value
of the bonds, drawn on some bank in Mansfield, or a New
York draft, required.
Roekport, ftlass.— Temporary Loan. This town has negotiated a six-months' loan of $10,000 with Loring, Tolman
Tupper at 3 24* discount. Loan is dated May 2, 1904. Blake
Bros.
Co. and Parkinson
Burr, both Boston firms,
offered to discount the loan, the former at 3-85* and the latter at 3-95*.
Roekport, Ohio.— Bonds Voted.— The election held April
8> resulted in 217 votes being cast in favor of and 57 against
—
&
&
&
Co., Cincinnati, at 103-766.
Swissvale, Pa. Bonds to be Re-authorized.—Owing to a
technical error in the ordinance authorizing the issuance of
bonds, a new ordinance will be introduced in the Council
early next month to correct the error. The securities proposed to be issued are as follows $10,000 paving, $30,000
damage and $25,000 municipal building and site bonds.
Tacoma School District No. 10, Pierce County, Wash.—
Bo ids Voted,—The vote at the election April 28 on the
proposition to isau9 $200,000 school- building bonds was 1,339
tor to 777 against the issue. Fall details not yet determined.
:
—
:
:
THE CHRONICLE.
1802
Tarentum, Pa.— Bond Election.— An
election will be held
81 to vote on the question of issuing $10,000 eleotricliaiht-repair, $15,000 street-improvementland $12,000 funding
assessment bonds.
May
nomination, $500. Date, April 1, 1904. Interest, semi-annnallv on Jan. 1 and July 1. Maturity, one bond vearly.
Wahpeton, N. Dak.— Bond Sale.— On May 2 the $22,000 5*
water-works bonds described in V. 78, p. 1516, were awarded
to Jobn Nuveen & Co., Chicago, at 102 409. Following are
the bids
Joha Nuveen 4 Co., Chlo
$22,580 00 8. A. Kean, Chicago
$22,218 00
C. H. Coffin. Chicago
22,501 00 Kane & Co., Minneapolis
22.000 00
Bonds Not Sold.— The $48,000 5*
Wake Conntv, N.
coupon bonds offered on May 4 were not sold.
Walla Walla, Wash.— Bond Election.—The Mayor has
been authorized to call a special election to vote on the question of issuing bonds for a gravity water system.
Walnut Grove, Minn.— Bond Offering.— Proposals will be
received until 8 p. m., May 20, by Wm. Q-. Owens, Village
Recorder, for $8,000 5g improvement bonds. Denomination,
Date, July 1, 1904. Interest, semi-annual. Matur$1,000.
ity, July 1, 1914.
Waterbury, Conn.— Bond Sale.— On May 2 the $10,000 3}4*
80-vear sewer bonds described in V. 78, p. 1516, were awarded
to Robt. F. Gsriffgs at par and accrued interest.
Watertown, N. Y.— Bonds to be Exchanged.— We are advised that the $100,000 refunding water bonds authorized by
the recent Legislature will not be offered for sale. Only
i% Sewer No. 908 bonds. Date, April 9, 1904. Maturity, "not to exceed 11,000 In any one year between 1906 and 190*1, inclusive."
296 96 4( Sewer No. 902 bonds- Maturity, "not exceeding 1150 in any one
year between 1905 and 1906." Date of bonds, Apr. 17, 1904.
490 60 i% Sewer No, 907 bonds. Maturity, "not exceeding 9200 in any one
year between 1906 and 1906, inclusive " Date of bonds. May 6, 1904.
1,966 37
Interest on all issues will be payable semi-annually.
Traverse City (Mich.) School District.— Bonds Voted.
This district on April 25, by a vote of 301 for to 67 against,
authorized the issuance of $20,000 school-building bonds.
Bond Sale. This city on April 27 awarded
Trenton. N. J
to a New York firm $12,500 4* 30-year hospital, $10,000 it 25year park, $20,000 4% 80-year engine-house and $20,000 i% 20-
I
—
I
C—
—
year engine house bonds.
Trenton, Ont. Debenture Offering.— Proposals will be received until May 16 by Q. W. Ostrom, Town Clerk, for $17,500 ii local- improvement debentures, maturing part yearly
for thirty years.
Tnscarawas Connty, Ohio.— Bond Sale.— On April 30 the
$105,000 5% bridge bonds described in V. 78, p. 1462, were
awarded to Deniaon, Prior
Co., Cleveland, at 101*31.
Union Connty, Iowa.—Bond Sale.— On May 2 $27,000 funding bonds (not $25,000, as stated in last week's Chronicle),
were sold to Geo. M. Bechtel
Co. of Davenport as 4 per
cents at 100*65 and accrued interest. Following are the bids:
4% Bonds.
iH% Bds.
4M* Bonds.
Geo. M. Bechtel A Co., Davenport
(27,176
W. J. Hayes & Sons, Cleveland
1*7,012
&
&
which are held by local banks.
Water Valley, Miss.— Bond Offering.—Farther details are
at band relative to the offering on June 6 of $25,000 5% school-
old ones, all of
'27,126*
27,070
& Niver Co., Chicago
Bonds are dated May 2, 1904.
Urbana, Ohio.— Bonds Authorized
Trowbridge
authorised the issuance of $2,000
NEW
about $8,000 of the old bonds will become due yearly, and as
new bonds will be issued in exchange for the
they mature
27,277
J27.176 60
'27.070
6:
-The City Council has
5-year
!
Wood
Street
NEW
LOANS.
house bondfl. Proposals will be received until 12 k. on that
day by F. H. Smith, Mayor, or J. L. Mauldon, City Cle^k.
Authority, Chapter 93, Laws of 1892, and Act of 1904. Denomination, $500. Date. Sept. 1, 1904. Interest, annually
Maturity, 1924, subject
at the office of the City Treasurer.
BOND CALLS.
BOND CALL.
LOANS.
#15.000
#500,000
Interest, semi-an-
Y.—Loan Authorized.—This city is authorized by
Chapter 452, Laws of 1904, to borrow for the purpose of extending its system of drainage.
Valley Center School District, Sedgwick County, Kan.—
Bond Sale.— This district on April 1 sold an issue of $5,000 5£
school-house bonds to D. E, Dunne of Wichita, at 100 10. De-
Temple, Texas.—Bonds Proposed.— In his inaugural message delivered to the Citv Council|April 12, the Mayor recommended the issuance of $10,000 street-paving bonds.
Toledo, Ohio.— Bonds Authorized.— The City Council has
passed ordinances providing for the issuance of the following bonds
Karson, Leacn A Co.. Chicago
Noble, Moss A Co., Detroit
8. A. Kean, Chicago
Land Credit Bank, Creston..
Denomination, $100.
Vol. lxxviii.
nual.
Utica, N.
bonds.
—
I
Hudson County, New Jersey, Borough cf Garfield, N. J., Territory of New Mexico.
IMPROVEMENT BONDS. TERRITORY OF NEW MEXICO, OFFICE
4% GOLD BONDS.
Notice
hereby given that the Borough of GarOF THE TREASURER. APRIL 8TH,
Is
By
virtue of resolutions of the Board of Chosen
Freeholders of the County of Hudson, State of
New Jersey, passed at the meeting held Monday,
April 25th, 1901, sealed bids and proposals will be
reoeived and opened at the meeting of said Board
to be held in the Court House, Jersey City, N. J.,
THURSDAY, MAY
19, 1904,
eight o'clock In the afternoon on the
Eighteenth Bay of May, Nineteen Hundred and
Four, receive sealed proposals In the office of the
Clerk of the Borough for the purchase of the
field will, until
following-described bonds, that is to say, 30
bonds, for five hundred dollars ($500) each,
said bonds to be dated July 1. 1904, to be coupon or registered bonds, at the option of the
holder, and to bear interest at the rate of five per
centum per annum, payable January first and July
first of each year, payable at the People's Hank <x
4 o'clock P. »1 .,
$500,000.00 Hudson County Trust Company, Passaic, New Jersey, and to mature
Park Coupon Honda, in accordance with an Act
of the Legislature of the State of New Jersey, July 1, 1924. Said bonds are issued for the purpose
of funding outstanding improvement certificates
at
for the sale of
entitled "an Act to establish Public Parks In certain
Counties of this State and to regulate the same,"
approved May 6tb, 1902, (Laws of 1902, p. 811).
Said bonds to be Coupon Bonds of the County of
Hudson, of the denomination of f 1,000 each, to run
for a period of nfty years, t« become due and payable on the first day of May, 1954, to bear date
of May 2d, 1904, with interest at four (4) percent
per annum, payable semiannually on the nrst days
of May and November In each year, and to be sold
for not less than par and accrued interest.
Kach proposal must be enclosed in a sealed envelope, endorsed "Proposals for Bonds" and to be
accompanied by a certified check enclosed therein
drawn to the order of Stephen HI Egan. County
Collector, on some National Haak or Truat
.
Company, or cash in the sum of Five Thousand
Dollar*.
Bidders May bid for the whole or any part of the
Issue.
The Board
bids if
it
reserves the right to reject any or all
be deemed for the best Interest of the
County so to
do.
By order of the Board of Chosen Freeholders.
JOHN
P.
EG AN,
Clerk.
Bidders will please furnish certified checks instead
•f cash if possible.
heretofore issued bv the Borough to pay its portion
of the cost of public improvements. The bonds will
be approved by Adrian D. Hullivan. Borough Attorney, whose opinion as to legality will be delivered to
the purchasers of said bonds. The purchaser will
be required to accept and pay for said bonds at the
People's Bank & Trust Company, No. 185 Main
Avenue, Passaic, New Jersey, upon reasonable
notice givee that said bonds are executed and ready
for delivery.
The Council
reserves the right to reject any or
all
bids.
certified
1J*©4.
Notice is hereby given by the undersigned. Treasurer of the Territory of New Mexico, that he is now
prepared to take up and pay on the issue of bonds
authorized by Chapter 01, Session Laws of 1893.
compiled as Section 397, Compiled Laws of 1897, to
the amount of $101,800, together with accrued interest on the same. Such issue being dated May let,
1893, and payable at the National Bank of Commerce
In New Fork City, and being payable by the Territory at any time after ten years from the date of
their issue, said period of ten years having now expired, and the Territory now desiring to exercise its
right under said Act and the terms of said bond,
and notice is further given that interest on said
bonds will cease and determine on and after the 1st
day of May, 1904.
J.
A
check on an incorporated State or
National Dank or trust company for an amount
equal to five per cent of the amount of bonds bid
for, payable to the order of the Borough of Garfield,
must accompany each bid; said check to be returned
to eaoh unsuccessful bidder, and the check of the
person wbose bid Is accepted is to be retained by the
Borough of Garfield and applied on account of the
purchase price or to be retained by satd Borough
as and for liquidated damages iu case such purchaser fails to take up and pay for said bonds as
above stated.
Bids will be opened at a public meeting of the
Finance Committee of the Borough of Garfield, at
eight o'clock P. M, on the Eighteenth day of May.
FRANK
1904.
E.
R.
Md.,
Sealed kids will be received by the Mayor and
Treasurer of Hyattsville, Maryland, up to 12 M.
11, 1904, for the purchase of bonds of said
town to the amount of 180,000.00 for the construction of a system of sanitary sewers.
These bonds will bear interest at the rate of 5 per
cent per annum, and will be payable thirty (30)
years from date thereof.
Payment of principal and interest Is secured by a
special sewer tax, as authorized by Chap. 126, Laws
of 1904, duly rntlfled by a vote of the citizens of
MAY
Hyattsville.
All bids must be accompanied by a certified check
for $800.00, and the right Is reserved to reject any
or all bids.
40 Water Street,
BOSTON.
Address
MAYOR and TRBA8URER,
care
W. H. Richardson.
MEMBERS
Treasurer.
STATE, MUNICIPAL AND HIGH GRADE
RAILROAD SECURITIES.
Rudolph Kleybolte&Co.
BANKERS,
financial statement, address
YKISKR, Mavor,
or
Kilt K LAN U. Auditor,
DEALERS IN
Paducan, Kentucky.
MUNICIPAL BONDS.
STANWOOD &
95
BANKERS.
Milk Street,
BOSTON.
3 Nassau Street,
NEW YORK.
STOCK EXCHANGES.
Authorized by popular vote at General election
Nov. 3d, 1909, and validated by a test case in the
Circuit Court and the Court of Appeals of tbe State
of Kentucky. All to bear 4% interest, payable semiannually, ;iiiii to be payable in 30 years In New York
City. For circular letter, giving full particulars and
E. C.
& CO.,
NEW YORK AND BOSTON
IMPROVEMENT BONDS.
D. A.
DAY
Mexico.
KANE.
PADUCAH, KENTUCKY,
ALEX.
L.
TADGHN.
New
BANKERS,
^200,000
Town of Hyattsville,
SEWER BONDS.
H.
Treasurer of the Territory of
Borough Clerk.
$30,000
CALL FOR THE REDEMPTION
OF CASUAL DEFICIT BOND* OF THE
TERRITORY OF NEW MEXICO.
To whom It may concern:
MUNICIPAL, RAILROAD and
STREET RAILWAY
Co.,
1
BONDS.
NASSAU STREET, NEW
Interest Paid on Daily and
Time
YORK.
Deposits.
— ——
J
>IAY
7,
THE CHRONICLE.
1904.
legalize the issuance of the $100,000 4%% sewer bonds awarded February 4 to E. H. Rollins & Sons of Chicago. The
election is called to correct a technical defect in the first
to call after 1914. Bonded debt, inclnding this issue, $100,000.
Assessed valuation, $325,000.
Watkins, N. Y.— Loan Authorized,—The issuance of bonds
for an electric-light system is authorized by Chapter 421,
Laws of 1904.
election,
—
—
the submission to a vote of the people of the question of issuing water-works bonds.
Taz*o, Miss.— Bond Offering. Farther details are at hand
relative to the offering on May 9 of $25,000 5% school-building
bonds. Proposals for these bonds will be received until 7
Denominap. M. on that day by E. J. Poursine, City Clerk.
tion, $500.
Date, May 1, 1904. Interest annually on May 1.
Maturity, $1,000 yearly on May 1 from 1909 to 1913, inclusive, and"$2,000 yearly on May 1 from 1914 to 1923, inclusive.
No conditional bids will be considered.
Tonkers, N. Y.— Loans Authorized.— Under Chapter 398,
Laws of 1904, this city is enabled to issue $300,000 water
bonds. Chapters 405, 406, 407, 408 and 411 also relate to
Yonkers. These Chapters authorize, respectively, an appropriation of $6,500 for a public library, a loan of $50,000 to pay
off indebtedness, the raising of $85,000 for the fire department, an appropriation of $31,000 for parks and the issuance of $3,500 bonds to equip a scavenger plant.
York (Neb.) School District.— Bond Sale.—On May 2 the
$28,000 5% building bonds described in V. 78, p. 1517, were
awarded to Squire & Annis of Council Bluffs at a premium
of $602-50 and accrued interest for $14,000 bonds to. be dated
and delivered June 1, 1904, and $14,000 bonds to be dated
and delivered Sept. 1, 1904, the purchasers also to furnish
blank bonds.
—
—
Wllkinsbnrg, Pa. Bonds Authorized.—The Borough
Council on April 11 authorized the issuance of $50,000 streetimprovement bonds. These bonds were voted at the spring
election Feb. 16, 1904.
Williams, Aitkin Connty, Minn.—Bond Offering.—Proposals will be received until May 28 by the Board of Supervisors, at the office of Frank Schwarzbauer, Town Clerk (P.
O Bloemendal), for $5,000 road and bridge-building bonds
voted at an election held April 2, 1904. Interest, not exceeding 8£, to be named in bid. Maturity, 20 years from date of
issue.
Winona, Miss. No Bonds Voted.— We are informed by
Mayor that the statement in some papers that this city
had voted to issue $100,000 water-works bonds is not correct.
the
in contemplation.
—We
Bond Election to Legalize Bonds,
are advised that a special election will be held May 9 to
INVESTMENTS.
INVESTMENTS.
NEW YORK CITY
BOND DEPARTMENT.
MISCELLANEOUS.
T. B. POTTER,
and
TETJST MUNICIPAL
CORPORATION BONDS,
THE AMEEI0AN
& SAVINGS BANK,
3&% GOLD
TAX-EXEMPT BONDS.
Chicago,
Offers
T.W.STEPHENS & CO.,
favorable to the bonds, the Chi-
Wylam, Ala.— Bond Sale. At a meeting of the Mayor and
Board of Aldermen held April 21 $3,500 school bonds were
sold to C. A. Nolan of Enslev at par.
Tankton, S. Dak.— Bond Election Proposed. A resolution
was recently introduced in the City Council providing for
Bmd
is
is
A
week.
&
issue
the result
if
for $26,518 85 and $1,800 to the Bucyrus City Bank of Bucylist of the bids received will be given next
rus for $1,838.
of $60,000 5£ improvement bonds was awarded to Spitzer
Co., Toledo. Denomination, $10,000. Date, June 1, 1904.
Interest, semi-annual. Maturity, $10,000 yearly.
Sale.— This town recently sold
Weatfleld, Maes.—
$50,000 4% surface-drainage bonds. These bonds were authorized at the town meeting held April 4, 1904.
Wheaton, 111.— Bonds Voted. Tnis olty has voted to issue
$75,000 6% 1-10-year (serial) eewer and drainage bonds. Foil
details and date of sale not yet determined. The present
bonded debt of the city is $10,000.
Wyandotte, Mich.
and
cago firm stands ready to accept the issue at their bid at the
sale on February 4.
Wyandotte Couuty, Ohio.— Bond Sale.— O a May 5, of the
four issues of 5% road bonds described in V. 78, p. 1569,
$26,000 were awarded to Denison, Prior & Co. of Cleveland
Wellston, Ohio.— Bonds Authorized.—The City Counoilon
April 7 passed an ordinance providing for the issuance of
$8,000 5% coupon sewer and sewage-disposal-plant bonds. Denomination, $400. Dite, July 1, 1904. Interest, semi-annually
at the First National Bank of Wellston. Maturity, $800
yearly on July 1 from 1906 to 1915. inclusive.
On April 21 ordinances were passed authorizing $5,500 5%
2- 12-year (serial) fire-department building and $8,500 5% 2 8year (serial) oity-building-improvement bonds, dated July 1.
West Bay City, Mich.— Bond Sale.— On April 25 an issue
No such
J80;J
Railroad,
172 Washington Street,
CHICAGO,
Illinois.
Municipal and Cor-
New
York.
Printed
and prices
application.
lists
IL.JL.ft.
-
•
Blodget, Merritt
poration Bonds, conservatively issued,
upon
&
Co.,
BANKERS
yielding investors 4# to f>%%.
2 Wall Street,
-
LIST ON APPLICATION.
16 Congress Street, Boston.
36 NASSAU STREET, NEW YORK.
STATE. CITT k RAILROAD BONDS.
FARSON. LEACH
<fe
00.. F.
Public Securities,
CHICAGO.
MEW
YORK..
FULTON & CO.,
R.
Municipal Bonds,
171 LA SALLE STREET,
PHILADELPHIA.
AMD
Public
Service
159 La Salle
St.,
Chicago.
BONDS.
H. M. Byllesby
&
E.H.ROLLINS & SONS,
INCORPORATED.
BOSTON.
ENGINEERS.
Chicago.
San Francisco.
INVESTMENT BONDS.
Street,
& Company
COUNTY
AND TOWNSHIP
CITY,
Burr,
BOSTON.
MacDonald, McCoy
AMD
MUNICIPAL
Corporation
BONDS.
Denver.
60 State
Established 1885.
H. C. Speer
&
INVESTMENT BONDS
CHICAGO.
BOSTON
MUNICIPAL
Perry, Coffin
&
Co.,
CORPORATION
BONDS,
Co.,
T7i L.a Salle Street, Chicago.
Chronicle
DESIGN, CONSTRUCT AND OPERATE
RAILWAY LIGHT, POWER AND
HYDRAULIC PLANTS.
1882— Jan.
1893-Jan.
2, 16;
Numbers Wanted.
Feb. 27: April 2, 23; Oct. 15; Dec. 10
28; Feb. 4; March 4; April 15; May 8-
7. 21.
13, 20. 27;
June
10.
3; April 7; June 23. 30.
Feb. 1. 8, 16; Apr. 18; Jane 27.
21, 28; Feb. 18, 25; April 15; May 20; June 3.
Quotation Supplement- Jan., Feb. and Apri
1884— Jan.
1898-Jan.
1889— Jan.
13. 20, 27:
Feb.
11;
l
8END TOR
March, 1901.
Investors' Supplement— Issues Jan. and May,
1893. Jan., 1800 and 1901.
Will pay 10 oents a copy for the Chronicles and
15 cents for the Supplements.
1880; Jan.,
LI8T.
Examinations and Reports.
DENISON, PRIOR & OO.
CLEVELAND.
BOSTON.
WILLIAM
New York
Life Building,
CHICAGO,
ILL.
B.
DANA COMPANY.
76& Pine
St.,
New York
City.
:
THE CHRONICLE.
1804
[Vol. lxxviii.
OFFICE OF THE
TheTrustCo.of America
New York, January 20th, 1004.
The Trustees, in Conformity vilh the Charter of the Company, submit itia following statement o)
its affairs on ihejist of Dtcembtr, J903 ;
Premiums on Marine Risks from let January, 1003, to 31st December, 1903..
Premiums on Policies not marked off 1st January, 1903
Premiums
BROADWAY,
149
ATLANTIC MUTUAL INSURANCE COMPANY,
Total Marine
(Northwest Corner Liberty
Capita', Surplus and Undivided Profits,
$3,574,850 3S.
Allows Interest on Daily Balances,
subject to check and on Certificates of Deposit
$3.974.516 29
Acts as Trustee, Receiver, Committee, Executor
Guardian, Administrator, Assignee, Registrar,
Transfer and Fiscal Agent.
;
Losses paid during the year which were estimated
$322,490 79
In 1902 and previous years
1,065,141 83
Losses occurred, estimated and paid in 1903
Returns of Premiums and Expenses, $467,841 97
OFFICERS:
Win, Barbour, V.-Pres.
H. S. Manning, V.-P.
Ashbel P. Fitch, Pres.
Wm. H. Leupp, V.-P.
E. J. Chatry, Sec'y.
A. L. Banister, Treas.
DIRECTORS:
$1,387,632 62
$146,587 55
64.028 75
,
St.)
$3,174,147 73
800,368 56
$3,250 364 45
Premiums marked ofl from 1st January, 1903, to 31st December, 1903
$336,185 20
Interest received during the year
"
'*
"
$448,108 97
111,923 77
lessTaxes
Rent
Less Salvages
Re-insurances
Companies.
grtist
Justxrance.
210,616 30
$1,177.016 32
The Company has the following Assets, viz.:
$5,170,084 00
United States and State of New York Stook; City, Bank and other Securities
1,612,252 53
Special deposits In Banks and Trust Companies
Place..
Exchange
$3,789,000
Real Estate corner Wall and William Streets and
75,000 3,864,000 00
Other Real Estate ana Claims due the Company
Ashbel P. Fitch,
Wm. Barbour,
H. 8. Manning,
Saml. A. Maxwell,
MyronT.Hen-ick
Emers. McMlllin
J as. M. Donald,
George Crocker, C. I. Hudson,
Edw.C.Schaefer Philip Lehman,
Geo.Blumenthal,
S. C. T.Dodd,
Joel F. Freeman IFrank Jay Gould,
James Campbell, SVm. A. Clark,
John W. Griggs,
II. S. Redmond,
Jno.R. Hegeman Kdwln Gould.
George
Wm.
C. Boldt,
H. Leupp.
.
Premium Notes and
Bill
gutjdit
in the hands of European Bankers to
foreign countries
Cash
pay losses under
polioles
payable in
182,00168
89,46172
ash in Bank
Amount
The Audit Company
Six per oent interest on the outstanding certificates of profits will be paid to the holders
thereof, or their legal representatives, on and after Tuesday, the second of February next.
The outstanding certificates of the issue of 1 898 will be redeemed and paid to the holders
thereof, or their lega. representatives, on and after Tuesday, the second of February next, from
which date all interest thereon will cease. The certificates to be produced at the time of
payment, and canceled.
A dividend of Forty per cent is declared on the net earned premiums of the Company
for the year ending 31st December, 1903, for which, upon application, certificates will be issued
By order of the Board,
on and alter Tuesday, the third of May next.
G.
STANTON FLOYD-JONES,
Secretary.
TRUSTEES.
HERBERT L. GRIGGS.
CLEMENT A. GR1SCOM,
ANSON W. HARD,
MORTON,
HENRY PARISH,
FREDERIC A. PARSONS
DALLAS B. PRATT,
GEORGE W. QUINTARD,
A. A. RAVEN.
JOHN L. R1KER,
DOUGLAS ROBINSON,
GUSTAV H. SCHWAB.
WILLIAM C. STURGES.
LEVI
MORRIS K. JESUP.
LEWIS CASS LEDVARD,
FRANCIS H. LEGGETT,
CHARLES D. LEVERICH,
LEANDER N. LOVELL,
GEORGE H. MACY.
CHARLES H. MARSHALL,
W. H. H, MOORE,
SORNKLIUS EI.DKRT,
3WALD FLE1TMANN,
P.
BONDS
A PARSONS,
Atlantic Mutual Insurance Company twrj>
of All Years Bought and Mold.
CERTIFICATES
Handsomely engraved, or In cheaper style
(not cheap looking) partly printed from
Send for samoles and estimates.
type.
100 Certificates $3 to $25. Seal Press $1 50. Quick Work.
Albert B. Kin^
8c
Co.,
Engravers and Lithographers,
New York Cit?
105 William Street.
JOHN M. GILLESPIE,
Room
No. 518 Atlantic Building,
9-51 Wall
NEW YORK
Street,
1807.
NEW YORK:
43 Cedar Street
CHICAGO.
PU1L.ADEL.PH1A.
AUGUST BELMONT,
Acting President.
WILLIAM
A.
JOHN J. MITCHELL
GEORGE W. YOUNG,
NASH,
Vioe- Presidents.
Gen') Mgr. and Treas.
F. C. RICHARDSON, Assistant Treasurer.
This Company Audits and Investigate* Accounts
and makes Physical Exaroinatt' ns of Properties,
lis Certificates and Reports are Prepared in behalf
of Merchants, Bankers, Corporations. Committees
and others, in strict confidence. The Company also
Devises and Installs Money-Saving Systems of
EDWARD
T.
PERINE,
Keeping Accounts.
635-42
AND STOCK
York.
ORGANIZED
THE AUDIT COMPANY
OF ILLINOIS,
RAVEN, Presidtnt.
Tiee-Pres't.
CORNELIUS ELDERT, 2,1 Viee-Pres'k
THEO. P. JOHNSON, 3d Vice-Pres'l.
A. A.
F.
New
of
$12,025,021 81
8CSTAV AMS1NCK.
FRANCIS M. BACuN,
JOHN N. BEACH.
WILLIAM B. BOULTON
VERNON H. BROWN,
WALDRON P. BROWN,
JOSEPH II. CHAPMAN,
GEORGE C. CLARK,
(tiompmiUs.
1,107,22188
Receivable
MARQUETTE
BLDG.,
CHICAGO.
Accountants and
Pablio
Auditor*,,
OFFICERS
WALTON. President.
L.
F.
W. LITTLE,
Vioe-Presldent,
ORGAN, Sea. and Treas.
C. W. KNI8ELY, Managsr
DIRECTORS:
AG. Bicxra, A. G. Becker & Co., Chicago.
r.w LlTTLs, V.- Pres. Peoria Gas & Bleo. Co., Peoria
0. D.
,
9. A.
FILE
CHRONICLE
AND SUPPLEMENTS.
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Z>A.]VA CO., Publishers.
76^ PINE STREET, CORNER PEARL STREET
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RETIEW
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1887 issue which gives 1882-1886
K
ii
ti
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ti
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i<
1902
1897-1901
it
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WILLIAM
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1882— 1903.
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Price for File Covers,
RTTHSR,Cash'r Nat'l Live Stock Bank, Chicago.
WALSH. Pres. Chicago National Bank, Chicago.
LA. Walton, V.-Pre». Equitable Trust Co., Chicago.
J.B.
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WM.
B.
12
PER COPY.
may be had
at 15 00 a copy
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TBK PINE
ST..
NEW YORK.
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