Full text of Commercial and Financial Chronicle : November 14, 1903, Vol. 77, No. 2003

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.

.

INCLUDING ^i^
Bank and

Qiiotation Section

A

the year 1903, by William K.

Ck)n.?re3s, In

weekly newspaper entered at Post

VOL.

Office,

New

y

^

and City Section (semi-Anmiaiiy)
Street Railway Section ('^"y^ariy"*"^)
State

(Monthly)

Railway and Industrial Section (Quarterly)
Entered according to Act of

.

Dana Company,

in the ottice of Librarian of Congress, Washington, D. C.
Dana Compant, Publishers. 76}^ Pine St., N. T.

York, as secuud-class matter— William B.

SATURDAY, NOVEMBER

77.

14,

NO.

1903.
H-cek endimj

^he

—

(£Axxonxt\t.

Clearitigs at

1903.

1002.

November
or

lilt,

Terms

Subscription

ol

—Payable

7.

190L

Dec

PUBLISHED WEEKLY.

2003.

lUOO.

5

in Adrance

For One Year
For Six Months
Enropean Subscription (incluiling postage)
Kurupeau Subscription Six Months (including postage)
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Six Months Subscription in Ix>naou (including postage)

—

Subscription includes following Sections
Bank and Qcotatiox (monthly)
State and City (seml-annual'.y)
Kailway AND INDL-STRIAL (quarterly) Stkeet Bailway (3 times yearly)

Boston
Providence
Hartford

Worcester

154.506.979
6,532,000
2.805,179
1,951,778
1,511,186

Sprinefleld

1,8(44,973

New HavenPortland
Kail River
Lowell
New Bedford

1,751,422
1,008,218

,

6,889,800
2.524,848
1,778.135
1,711,218
1,469.025
1,589.242
952.465
,577 162
449.586

1,774.1.39
1,63.8,138
1.619.r>21

1,084.436
486,619
790,893
530.395

173,954,787

New England

Total

152,110,7,52

2,013,1

553,873
748,074
721.905

,

Holyoke

I

157,974,700
6.541.400
2.538,116

176,991,541

133,740,847
5,890.000
2.088,7-27
1..
833.001
1,312,055
1,519.506
1,206,900
1,026.558

5:>6.450

5:i2.610

523.068
278.042

—1-7

170.573,838

150,000,114

8-5
1-2

120.264.569
15,158.450
10,337,675
8,199,149
5,341,55a
3,351,190

+11-9

163,277,639
19,533.500
13,565.819
12.607,769
6,608,302
4.943,560
3,373,650
2,487,069
2,680,939
1,373,884

-t-16-2

1,3.59.556

--50-0
--28-8
--35-7

1,012,888

I

—

Terms of Advertising Per IncJi
Transient matter per inch space (14 agate lines)
(

Standine Business Cards
tjlanaing iiusiness uaros

Two Months

'

^'^iree

-.

(

Months
^^^ Months
Twelve Months

LONDON

(8
(13
(26
(52

Chicago

Space
$4 20
22 00
29 00
50 00
87 00

times)
times)
times)
times)

180,792,397
24,300,600

Cleveland

15,172,!25«

Detroit

10,273,292
9,122,410
6,109,314
5,056,200
2,918,187
3,082,250
1,991,462
1.711,019
1,502,758
769.400
801,1«9
576,861
785,108
582,921
604,224
368,255
369,677
465,775
371,516
271,558
246,577
264,288
211,933
105.361

168,648,998
24,022,850
14.788,172
11,030,670
8,154.387
5,703.348
4,225.000
3,205,843
3.289,153
1,780,682
1,472,438
1,001,495
597,600
590,803
553,932
584,990
668.215
477,330
4«2,694
422,941
341,689
355,053
224,944
192,075
221,109
160,736
94.355

26tt,826,799

251,292,497

31,721,718
6,698,391
4.500.466
3.477,768
4.504,023
2.742,113
2,224.856
744.938
884.070
376.038

26,390,794
5,046,862
4,142.957
8.140.850
4,127.907
2,160,748
2,032.604
663.634
783,107
339.663

Cincinnati

Milwaukee
Indianapolis.

Columbus
Toledo

AGJENTS:

Peoria

Smith, 1 Drapers' Gardens, E. C, -will take subscriptions and advertisements, and supply single copies of the paper at Is.

Grand Kapids
Dayton

W1L.I.IA:tI B. DANA company, Pabllsbers,
Piue Street, Corner of Pearl Street,
Post Office Box 95S.
NEW VOlMi.

Akron.

Messrs.

Edwards

<fe

CLEARING HOUSE RETURNS.

Evansville
Sprincrtleld. Ill

liounBstown

Kalamazoo
Lexineton
Canton
Kockford
Springtleld.

O

Bloomington
Quincy
Decatur

The following table, made up by telegraph, etc., indicates
Mansfield
that the total bank clearings of all the clearing houses of the Jacksonville
United States for the week ending to-day, Nov. 14, have Jackson
Ann Arbor
been $2,081,251,815, against $1,976,000,150 last week and
Total Mid. Western
$2,666,748,926 the corresponding week last year.
San Francisco
Los Angeles

Clearings— Returns uy letttrraph.
Week Ending Nov. 14.

New

Chlcaeo
St. Louis
Orleans

Seyen cities, 5 days.
Other cities, 5 days

Total

5 days.

ail cities,

S.ilt

Lake Qty..

-328 Spokane
—69 Tacoma

all cities

44,790.980
14,860.764

—8-1
—10-5
+1-5
+5-7
+23-5

$1,911,759,815
302,497.648

-25-5
+2-5

Jl.734,327,004
340,924,811

Iday

The fuU

P. Cent.

¥1,455,127,895
123,821.102
99.996,084
20,596.031

11.424.312,541
310,014,463

IBaltlmore

All cities,

1902.

$978,126,881
115,224,557
91,919,662
18,431.550
154,893,087
47.364,193
18,352,611

•Philadelphia.

Total

1903.

Seattle

Portland

York.

Boston

New

,

for week.

*2,075,251,815

152,566,9.59

?2,2 14,257.463

452.491,463
$2,666,748,926

-21-7
—24-7
-22-2

Helena

Fargo
Sioux Falls
Total Pacific.

Kansas City
Minneapolis

Paul
Joseph

Denver
Des Moines
Sioux

C!ity

Topeka
Davenport

week covered by the above will be Wichita
^ven next Saturday. We cannot furnish them to-day, clear- Colorado Springs^.
Fremont
ings being made up by the clearing houses at noon on SaturTotal other West'rn
day, and hence in the above the last day of the week has to
St, Louis
be in all cases estimated, as we go to press Friday night.
New Orleans
details for the

,

We present below our usual detailed figures for the previous Houston
week, covering the returns for the period ending with Satur- Galveston
Richmond.
day noon, Nov. 7, and the results for the corresponding Savannah
Louisville

week in 1902, 1901 and 1900 are also given. Contrasted with
the week of 1902 the total for the whole country shows a loss
of 12-7 per cent. Outside of JSTew York the increase over 1902
ds 4"4 per cent.

Atlanta
Nashville
Fort

,

,

Worth

Birmingliam
Knoxville

,

Augusta

Week ending Kovember
CXtarings

at—
190a
«

(New YoT-k

,

Philadelphia

,

?*ittsburgh.

JBaltimore

,

,

igntralo

Washington.

Albany
iRocheater
Dtica.

Scranton
Syracuse

Wilmington
Wilkes Barre
Whee.ing
Btnghamton
Greensburg.
Chester
Erie
Franklin, Pa
Total Middle....

1902.

Publication

l,7(i4.,325

1,453.071
1,437.141

$

"/o

Beaumont
Jacksonville
Charleston
Guthrie
Total Southern

Total

+7-1

+19-7
—9-0

—

0-3

+4-2
+34-4
—12-9
+26-6
—23-6
—13-6
+36-3
+4-6
+20-9
+28-3
+19-5
+31-9
+11-7
+7-0

all

New York.
Canada—

60,'0'(J0

185,667
102,460

24,850,316
3,504.875
3,775,969
3,880,492
3,528.701
1,523,743

753,790
737,159
313.893

18,190.870
2,139.493
2,871,800
2,102,711
2.990,000
1,052,782
987,933
520,421
398,503
182,523

44,291.525

31,437,035

21 002,842
20,361,183

14,768,145

6,401,319
6.025.307
4,819,180
4,099.593
1,952,483
1,561.858
1,226,146

5,815,082
4.718,215
3,593.380
3.902,300
1,552.670

1

-16-0
-7-4
+14-4
+2-7
-28-3
+29-7

5,,976, 514
7, 294.,060
3, 795,,822
2, 754,,344
2. 140,.661
2, 147,,287
1, 352,,412

,162,.190
1,
,945.,957
1,
1,
,223.,281
1 ,023,,000

800,.000
325,,000
745, 163
,360,

,045

+17-8
+0-7
+10-8

+9'

—9-0
+5-2

+0-

133,022,428

119,088,580

1,976,000,150 2,264,689,532

,332.587

14,201409

iail,683

544,808
1,027,152
150 203

946,356
875,042
531,996
854,524
114,694

+66

69,954,342

53,045,498

+7-6
+19-4

47,347,620
16.947,41

—7-1

8.3:14,638

+38-5
+47-8
+5-6
+12-4
+21-1

6,806,070
4,250,000
3,797,808
4,903.211
4,550,536
3,241,»92
1,777,154
1,485.548
1,811,031

956,901
1,008.000
487.258

31,648,335
13,228,016
7,225.354
5.300.000
4,693,000
3.440,064
4,883,479
4,083,100
2,494,602
1,780,115
1,468,376
1,115,167
800,000
500,965
1,430,646
782,343
726.000
365.864

374,688

m,458

111,620,780

86,195,403

1,18-2,208

—09

+24-3
4-10-6

+53'5
+2-2
+48-0
—28-7

1,1.52.468

750,263
1,602,17'"

—170
-9-9
+6-7

—71

+114-7
in to

Not include d
533 Not include d
129

50,000
122.747
150,000
176,521,145

+130

46,369,688
16,967,016
10,855,230
0,848,860
4,3^4,500
4,100.423
5,317,681
6,021,209
3,828,364
2,216,876
1,935.623
1,398,850
1,323.442
785.431
2.728.586
1.473.412
1,136,000
750,000
350,000
347,389

4-22.677

238.739.630

+12-2

49..900.,409
i.865
20.,258,
.086, 410
10.

521,100

"

+91

74,567,510

1,159,334
1,071.339
942.576

296,714
335,773
382,403
239,577
257.559
383.767
212,871
243 857

1.56,167

+100

79,476,133

2,3.54.163

t>14,100

+26-9

20,977,963
21,859,495
7,558.435
6,527,741
4.649,388
4,652 542
2,500,400
1,740.065
1,600,814
1,160,706
762,095
418,536
159,330

1,200

618,574
497,164
462,364
552,751
336,077
353,138
363,436
309.701
302,498

+16-4
+32-7
+8-6
+10-7

24,720.553
22,019,305
8,372.683
7,157,735
4,231,533
4,895,000
2,517,500
1,462,580
1,482,066
1,327,813
782.725
300,000
206,580

2,5:j

2,200,903

tal.

in to tal.

+11-7

—12-7 2.134.847.964 1,709.802.823

3,785,218
2,354,596

2,899,979
2.258,603

1,283,924
1,506.751

-f3-l

—16-0

1.235,632

886,662

973.6.S9

-f9-0

1,054,364
682.649
364.700

371,322
378,737

•Outside

904,700,350

866,862,053

+4-4

809,840,067

839,708,45«

Montreal

—53

—7-6

920,801
+131
75d.930
+40
431,500
+19-0
486,433
+15-7
470.U03
-j-14-0
500,829 .Vot include d in to
249.922 Not include d in to
1,262,815,027 1,593,930,278

1900.

—23-3 1,325.007,897 1,070,094,367
—3-6
95,543,184
81,047,995
+1-2
34.190,545
26,140,7r2
—3-0
22,940,137
18,865,067
—0-4
5.914,429
4,980.921
—0-7
3.318.713
2,472,905

discontinue d.
1,710.824
1.729,925
1,320,025
813,6a3
727.836
362.600
420,393
412,705

Macon

7.

190L

Dec.

$

1,071.299.800 1.397.827,479
107,807,358
111,856,260
37,457,:348
37,025.076
21.045,239
21,697,543
6.252,060
6,274,765
4.338,870
4,369.094
4.0."i7.917
4.314.842
2.835.625
3,067.278

Little Rock.

Chattanooga

Inc. or

—6-9
+11-9

+10-7
48,819,126 +18-5

9,,3.-)l 737
6.,409,,000
4,,330.,316

Memphis

Norfolk

6

57,874,976

Omaha
St.
St.

+2

25,088,834
16,255,123
7,192.438
.2.4t)1.052
3,473.476
2,074,233
1,659,437
1,189,451
1,152,205
949,515
652.801

19,879,227
15,911,152
5,388,602
1,787,130
1,972,102
1,438.422
1,325.358
1,210,695
911,645
853,676
576.609

+26-2
+2-2
+33-5
+37-7

20,978.943
11.466,095
4,658,006
1,900.000
2,199,707
1,650.135
1.198,708
814.380
839,587

16,273,424
11,304,956
2,745 778
1,685,571

Toronto
Winnipeg
Halifax

730.487
447.300
246,992
319,948

tal.
tal.

—20-8 1,499,670,849 1,212,627,634

Ottawa
Quebec
Vancouver.
Hamilton
St.

John

liondon
Victoria
Total Canada

62,143,315;

-f-76-1

444-2
+25-2
—1-7
+26-4
+11-2
+13-2
51.254,618 +21-2

1,010.029
765,893
778,951

758.011

828.188

46,463,642

35,392,790

THE CHRONICLE.

1836

A

new number

of our

That, though,

within.

STREET RAILWAY SECTION.

uation,

Street Railavay Section,

[ToL. Lxxvri.

and

is

an Impossible sita totally unnecessary supposition to
is

of course

account for the state of the Corporation's affairs
revised to date, la sent to our subscriberg to-day. The and of the ruling values. As we have of ten said before,
editorial discussions la the same embrace the follow- there is such a quantity of these securities that no coning topics
servative body of men would think of standing under
THE PROBLEM OF HIGH SPEEDS.
them at a time of universal apprehension, especially
THE BURDEN OF RAPID DEVELOPMENT.
when there is an adroit party bold enough and commanding sufficient capital to be able in an utterly reckSLEEPING CARS ON ELECTRIC LINES.
less way to flood the market with every kind of security.
fully

Besides,

IHB FINANCIAL SITUATION.

—

fill

an Important page in the history of our

country's industrial affairs and policy.

First

among

Congress on Monday in specseseion, convened, as the message of the President

these Is the assembling of
ial

nay

consider the legislation necessary
to put into operation the commercial treaty with
states, that

Cuba

It

ratified

by our Senate at

Its

in

the values of these Steel

properties have been in part legitimate; that

The current week has been distinguished by the
epochal character of some of Its events events which
are likely to

the declines

last session

and

subsequently by the Cuban Government. It is to be
hoped that this object for which Congress meets will
be quickly secured and the scheme that was under-

taken by the United States in behalf of Cuban independence and prosperity be completed in all its details, the climax being capped by this creditable
finishing act, which will be, we think, of advantage
Another event, clearto both countries concerned.
ing the way for a new departure of this country in a
formidable interoational enterprise, is the completed
revolution in Panama, its secession from Colombia,
and the formation of a republic covering that isthmus.
The door has thus been opened to speedy action in
carrying forward the Panama Oanal project. Any
supplementary legislation which may be needed to
enable the Administration to prosecute the work will

growing out of natural causes. There are those who claim
that the syndicate is making money by conversions of
the preferred into bonds during this emergency. If
they are, we can see In it nothing wrong. Were they
forcing the situation and then reaping benefits from a
demoralization which they had produced, they would
certainly be blameworthy.
We find no facts to support that theory, and do not believe in it.
On the
other hand, if the syndicate can get rid of their assumed burden by using a situation in part natural and
in part forced by the short sales of parties seeking
through it to embarrass this syndicate, it evidently
has a right to do so. Remember, too, that if these
conversions are carried so far as to withdraw the full
amount of the syndicate's original undertaking, the
Steel Corporation will be left with 50 million dolis,

lars cash in its treasury, its 7 per cent preferred stock

reduced 1200,000,000 and with $360,000,000 of the
new 5 per cent bonds outstanding.
Of course the decline in iron and steel has helped
to unsettle the market for Steel stocks, and to that extent the lower prices of these securities is legitimate.

Under the present conditions

of general trade

it

would

should further decline,
as a natural result of the lower value, untilj a considno doubt be readily granted.
erably lower level of production wai reached.
The
output of these articles has increased rapidly month
Of a very different nature are the occurrences which by month for a long time in the effort to
have again demoralized Wall Street af airs. A dearer meet the developing demand, which has been
money market, the activity of the bear contingent, increasing pari passu. In that pursuit very many
the violent attack on United States Steel securities furnaces have no doubt been brought into operation
and the great and continued weakness of some of the turning out iron which will find it unprofitable to conleading trunk line stocks have been influences ma- tinue at work as the decline in market values proAlready expansion has turned to marked
terially operating to the disadvantage of all Stock ceeds.
Exchange values. Many properties have at the same contraction. That is a reasonable outcome, and
time made a new low record. This is especially true has from the first been anticipated. Moreover
and the United States Steel Corporation was preof the Pennsylvania stock among railroads
the preferred Steel stock among industrials. As to sumed to be so organized, and since organization
of
the Pennsylvania nothing really new has been urged to have been so managed, that it could produce steel
endangering dividends. The added stock is an old at a profit with lower prices ruling for the product
story now and the bonds recently announced as put than almost any other iron and steel organization.
out by the Individual properties It owns are not a new There is nothing in the developments hitherto that
Bringing them together and placing the calls for any modification of that view. An importrevelation.
enlarged stock issue by their side makes a formidable ant fact relating to the changed conditions is that
total for a smaller company, with a moderate net In- the lower values will stimulate sales in foreign
come, to finance. But when one considers the im- countries, rumors with regard to which have been
mense growth in gross revenue of the parent com current since November opened. These rumors are
pany and its consorts, and in net revenue, even after said to be premature, but they indicate a course of
allowing out of gross almost fabulous sums for new affairs that is, as we look at it. Inevitable in the near
work of a kind which can be almost wholly stopped future.
the present opportunity seems to
in an emergency
Another feature of the week has been a highly
afford a promising chance for the investor who takes
While our monetary conditions have
favorable one.
long views.
been growing more and more threatening, our foreign
As to Steel preferred, the selling of this stock has exchange market has been weakening. As, however,

—

not

be

surprising

if

iron

—

gone so far the current week that this latest experi- exchange rates continued to decline here the Bank
ence became almost sueirestive of something rotten of England, to protect its reserye, raised obstacles

Nov.
againsi

ment

THE CHRONICLE.

14, 1903. J
tk

of

fiub ouifluw ul ^oid so »» lu pruvoub a

the mett»l to

Nuw

York: that

Is

moye-

to say,

It

raised the aelllng price of bar gold to 778. lljd. Tuesday, to 788. Wednesday and to 788. ^d. Thursday, the
details

respecting

which

are

given
In

In

our

be so arranged that most
be able to earn as much as before;
of the
that is, through improvements in machinery and a
little extra exertion the men can increase their daily

reports the reductions will

men

will

output sufficiently to keep up their present level of
remarks earnings. This applies particularly to the so-called
a sub-

this article
sequent portion of
about foreign exchange and gold Imports. It Is
well enough to mention the fact that the Bank
acts Independently of the bullion market when it
adyanoes the price of gold, as has been done this
Under the provision of the Peel Act
week.
of 1844 the Bank is required to buy with its
notes all the gold that may be tendered to it at the
rate of 77 shillinga 9 pence per ounce, standard,
which price may therefore be taken as the minimum
price for bar gold.
The coinage value of gold is 77
shillings, 10^ pence, per ounce, which consequently
may be termed the normal price for the metal. Of
course the Bank's advance is reflected In the bullion
market at London, which Is In turn naturally responsive to supply and demand.
As remarked above, this
situation of our foreign trade is highly satisfactory,
since it relieves apprehension as to any serious condition of our money market; for it indicates a state of
our balance that makes it easy for New York
to supply any absolute need
for money which
in the near future may arise.
Even during the current week and while these advances have been In
progress, announcements have been made of engagements for the metal by our bankers to the amount of
$5,076,000. Indeed, it is likely that other amounts
have been engaged during the same time; this, we
say, is likely, because arrivals almost always exceed
the amounts reported withdrawn when such a movement has actually begun and is under way.
In the
Interest of general business It Is not, however, desira
ble to draw on European bank reserves, while they
remain as at present, in any greater amount than our

money market requirements make

1837

strictly necessary.

^'tonnage men."

The

third development of the

week has been the

disclosure that the United States Steel Corporation
and other manufacturers aro making persistent efforts
to get the trunk-line railroads to reduce freight rates

In a petition which they have prethe Trunk Line Association, and which is to
sented to
be acted on next Tuesday, they point out that the iron

on

steel products.

and

steel business of the

country

is

in a depressed con-

pending Improvement in the domestic
markets the steel manufacturers are looking to secure
a market abroad for some proportion of their product;
and that therefore (in view of the advantages to the
railroads resulting from such a course) it would seem
but fair for the railroads to join with the manufacturers In an endeavor to secure foreign business by making a sweeping reduction In the transportation cost
from the mills to the seaboard. Rumor has it, too.^.
that the steamship companies, and particularly the
International Mercantile Marine Company, have likewise been asked to aid in the effort by quoting low
rates for the water transportation across the ocean.
These various moves may appear to many as simply
new manifestations of an unfavorable situation. Thej
are that of course, but in the swiftness in which
matters are proceeding there is the hope, nay the
certainty, that a quick termination of the existing
situation will be reached. It is the uncertainty aa to
the immediate future which is more influential in
checking demand than any actual or prospective de^*
crease in consumption.
With prices tending downward and the market unsettled, buyers hold off in fear
that a still lower level of values may be reached,
dition; that

making present purchases undesirable. The developIn the iron and steel trades events have been crowd- ments of the week should bring matters quickly to
a
ing upon one another in rapid succession this week. climax; once aasTed that bed-rock has been reached
We have already referred to the marking- down of in the downward turn in prices, we may be sure purprices which has occurred as being the natural out- chases will be resumed on an
extensive scale.
come of the conditions prevailing in these trades. The
The decided curtailment of production of pig-iron
reductions do not extend to the whole line of iron and evidently tends in the same direction. The
"Iron
steel products, but steel billets have been cut from Age" of this city has this
week published its monthly
127 a ton to $23 a ton at Pittsburgh; steel bars from blast furnace statistics, and these show that during
$32 a ton to $26 a ton; tin plates from $3 80 a box to October the furnace capacity was reduced 80,000 tons
$3 60 a box; while steel hoops and bands have also per week, or at the rate of 4,000,000 tons per year.
been reduced from $6 to $6 a ton. Prices of structural In other words, the capacity of the furnaces in blast
steel and other finished steel products were left un- November 1 1903
was only 282,219 tons per week as
changed. These classes of products, it is stated, were against 361,492 tons per week on October 1.
The
not advanced when prices had been rlslDg. Hence "Age" shows that the falling-off has
been largest
the cut in the quotations of the raw material in the Central West
and in the East, though
simply serves to restore the normal parity between the Southern furnaces have also somewhat
diminished
the two.
their product.
Notwithstanding the curtailment of
Besides the cut in prices, two other important de- output there was a further addition to
furnace stocks,
velopments have occurred. The first of these relates the total of these furnace stocks, sold and
unsold,
to the policy to be pursued in the matter of wages.
being given as 597,399 tons Nov. 1, as against 506,848
Obviously the high pay which has prevailed the last two tons Oct. 1. It
is to be remembered, however, that
or three years cannot be maintained.
The rumors of curtailment of output to its full extent did not occur
proposed reductions in wages by the United States until the latter part
of the month, and furthermore,
Steel Corporation, and which appear to be pretty well
as already pointed out, that demand has slackened,
authenticated, are hence accepted as the inevitable
not because of a falling off in consumptive requireoutcome of the existing situation. It Is stated that ments, but simply because intending buyers are
waitthese cuts in wages will extend to all the employees of ing
to see whether the lowest dip in the decline in
the Steel Corporation, from the highest to the lowest,
market prices has been reached.
including the officials of the company. According to

THE CHRONICLE.

1838

Figures of anthraolte ooal productloa have been
published this week and they show that the amount of
coal mined in October this year was 3,936,642 tons, as
against
strike

tons in October 1903, when the
prevailed.
Most interest, however, will

1,376,643
still

attach to the figures showing the output for the ten
months. This is reported as 61,011,936 tons, against
only 31,117,076 tons in the ten months of last year,

during which the output was so seriously reduced because of the strike, which lasted from the 12th of May
till the 26th of October.
The largest amount of
anthracite mined in the ticehr months of any calendar
year was in 1901, when the shipments aggregated
63,668,601 tons.

With two months more

to

add

to

[Vol. lxxvii.

from the market of 1600,000 on Tnureday. It was
reported on that day that the Bank of Eagland had
made an arrangement with the Bank of France
through which that institution would meet any further demands which might be made for gold for export to New York; this report could not be confirmed
and the foreign bankers regarded it as without foundation.

There was a report from London on Friday that the
Bank of England had refused to sell any more bar
gold to American bankers. This statement was substantially confirmed by cables to some of the New
York banking houses. As the supply of gold bars in
the open market Is quite meagre, our Importers will,

because of this refusal of the Bank to sell bars, be
under the necessity of procuring sovereigns. Should
But considering that in 1902, on account of the these coins be of full weight, which Is not likely to
strike, the aggregate shipments were only 31,200,890 be the case. Imports could be effected, at a small profit,
tons, or fully 30 millions below what might have been at current rates for sight exchange; any reduction In
the normal requirements, it does not appear likely the value of the coins, however, through abrasion,
would make necessary lower rates for exchange to
that the output of the present year will prove exces
ive. Yet with coal being produced on such an ex- compensate for the decreased value of the sovertensive scale, one can understand that curtailment of eigns.
Sometimes, as Is now the case, an advance In the
the output, which seems now to have been pretty genprice of gold by the Bank of England is made inerally entered upon, was a wise and desirable step.
stead of raising the discount rate, the former being
There was no change in ofl&cial rates of discount by generally efEectlve in restricting withdrawals of gold,
any of the European banks this week. Compared while the latter might have an unsettling Icfluence
with last week, unofficial or open-market rates were upon financial and business Interests. Since the befirmer in Germany and notably so at London.
It was ginning of the month, under the inflaence of purexpected early in the week that the Bank of England chases of gold, the open market price has risen from
minimum rate of discount would be advanced on 77 shillings 10^ pence October 29 to the equivalent
Thursday. The open market rate was firm at higher of the Bank price, and it is now reported at 78 shillings
figures than those ruling at the Bank, the security
^ pence per ounce. There was an arrival on Tuesmarkets in London were unsettled because of pur
day of this week of 1600,000 and on Friday of a like
chases of gold in the bullion market for export to amount of gold from London consigned to the NaNew York, and the price of gold bars and of coin had tional Oity Bank; the engagements of these amounts
been advanced by the Bank for the purpose of protect- were reported last week. So far as can be ascertained
ing its gold reserve, causing a corresponding advance there are in transit about $6,076,000 gold from Lonin the prices in the op an market, though apparently don consigned to the National City Bank, to Lazird
without materially checking purchases of the metal Freres, and to others, the bulk of which Is to the former
for shipment hither, the continued decline in rates consignee; this gold is expected to arrive during the
for exchange in New York offsetting the higher prices ensuing week.
la addition, $346,000 has been refor gold in London.
On Wednesday the Bank ad ceived from Cuba.
vanced its selling price for bars to 78 shilllDgs per
The notable feature of the statement of the New
ounce from 77 shillings llf pence on Tuesday; but York Associated Banks last week was the loss of $9,then sight exchange at New York had fallen below 273,900 In cash reserve, which amount closely corre4 83 and the indications seemed to point to a further sponded with the estimated loss as shown in the
decline. Before the close of the day, however, the New CnROifiOLE's table of currency movements.
The deYork market for sight bills recovered, and on Thurs posits decreased $17,671,900 and the resulting diminday the Bank advanced its selling price for bar gold ution of reserve requirements was $1,392,976, deductto 78 shilllDgs i pence per ounce, and It made no ing which from the loss of cash left $4,879,926 as the
change in its minimum rate of discount. At this decrease in surplus reserve to $5,394,225. Calculated
price for bars, it was calculated that it would be more upon the basis of deposits less those of $37,183,300 of
advantageous for shippers to procure sovereigns than public funds, the surplus is $14,689,776. Loans were
bars for export, provided exchange should be obtain
decreased $11,413,000.
It is noteworthy that the
Probably with the obJ3ct of preventing legal -tender holdings, the total cash reserve and the
able at 4 83.
the withdrawal of sovereigns from the Bank, the Gov- deposits are now at the minimum of the year. The
ernors met the requirements of shippers by indirectly bank statement of this week should reflect, besides
selling £300,000 in bars, thus supplying to that ex- other movements, the transfer of $1,616,000 to New
the present year's figures,

it is

for 1903 will far exceed the

evident that the total

largest previous total.

—

tent part of the

demand for export. The recovery
at New York on Wednesday made

in

it
exchange rates
improbable that further withdrawals of gold from the
market at London would be attempted at present, because of the reduction in the profic resulting from the
concurrent rise in exchange and the higher price of gold
this recovery in exchange probably induced the Bank
Governors to refrain from advancing the minimum
rate of discount.
There were, however, withdrawals

Orleans and $1,450,000 to Chicago; also the Import
from London of $1,000,000 gold and from C aba of
$346,000. The exchanges of refundable bonds have
thas far amounted to $9,579,900 and the redemption
of 5 per cents of 1904 to $10,666,000.

Money on call, representing bankers' balances, has
loaned on the Stock Exchange during the week at 6
per cent and at 2^ per cent, averaging about 6 per

«

.

Nov.
oant.

THE CHRONICLE.

14, 1903.]

On Monday

loans were at 6 per cent and at 4

per cent, with the bulk of the business at 5 per cent.
On Tuesday transactions were at 6 per cent and at 3
On
per cent, with the majority at 5^ per cent.

Wednesday loans were at 5i per cent and at 4 percent,
with the bulk of the business at 6 percent. On Thursday transactions were at 6^ per cent and at 2^ per
On Friday
cent, with the msjority at 6 per cent.
loans were at 4| per cent and at 4 per cent, with the
bulk of the business at 4^ per cent. Banks atid trust
companies quote 6 per cent as the minimum. Very
little business is reported in time loans and the Inquiry la chiefly for sixty to ninety days; there is no
demand for longer dates, there being no object in mak
Ing engagements for these periods at current rates
Quotations for loans on good mixed Stock Exchange
collateral are 6 per cent for sixty to ninety days and
6^ to 6 per cent for four to six months. There is a
good supply of commercial paper but no pressure of
offerings, and the business is yery light, there being
no local demand and only a small inquiry from instiRates are 6 per cent for sixty
tutions In the Interior.
to ninety-day endorsed bills receivable, 6 per cent for
prime and 6^ per cent for good four to six months'
single names.

The Bank of England minimum

rate of discount re-

mains unchanged at 4 per cent. The cable reports
discounts of sixty to ninety day bank bills in London
4i@4f per cent. Tne open market rate at Paris is
2t per cent and at Berlin and Frankfort it is 3|@3i
According to our special cable from
per cent.
London, the Bmk of E ^gland lost £389,009 bullion
during the week aad held £32,164,367 at the close of
Oar correspondent further advises us that
the week.
the loss was due to exports of £616,000, of which
£261,C00 sold in t^ie open market, £250,000 shipped
to E^ypt and £115,000 to various countries, and to
receipts of £227,000 net from the interior of Great

1839

reported by the cable that £2C 0,000 had been sold by
the Bank of England on Thursday and a sale on the
previous day of £260,000 by this institution was

The Kaiser Wllhelm 2d

arrived on Tuesday
with 1500,000 consigned to the National Olty Bank
and the Faerst Bismarck, which reached this port on
Friday, brought 1600,000 consigned to this institution.
The Assay oflice paid $865,034 89 for domestic bullion.

recorded.

Gold received at the Custom house for the week
1846.580.

Nominal quotations for exchange are 4 80^@4 81 for
There was some
sixty day and 4 84@4 84^ for sight.
business done In exchange on Saturday of last week,
when a large supply of cotton bills was received, and,
compared with the previous day, rates for actual business fell ] 5 points for long and for cables, to 4 8040(^
4 8060 for the former and to 4 8460^4 8470 for the
latter

;

short declined 20 points, to 4

84@4

8410.

The

market was weak again on Monday, when still larger
amounts of commercial bills were received, and long
dropped 40 points to 4 80@4 8010, short 30 points
10 4 8370@4 8380, and cables 35 points to 4 8426®
On Tuesday another liberal supply of cotton
4 8440.
bills, said to be the largest received In a single day
for many years, had an unsettling effect upon the
market, and long fell 25 points to 4 7975(^4 7985,
short 30 points to 4 8340@4 8360 and cables 35

8390@4

points to 4

On Wednesday

8410.

the offer-

abundant, and long de7930, short 50 points
to 4 8290^4 8325 and cables 40 points to 4 8350@
4 8376 ; the market recovered la the afternoon and It
closed steady, with some buying to cover gold imports.
On Thursday additional buying against these
imports made the tone firmer and long reacted 35
points to 4 7960@4 7966, short 40 points to 4 8330@
4 8340 and cables 25 points to 4 8376@4 8390. The
market was steady on Friday. Continental exchange
was lower for all kinds of bills during the week and
ings were smaller, though

clined

60 points to 4

still

7915@4

ihe business was large.

Britain.

The following shows dally posted rates for exchange
The foreign exchange market was unsettled and by some of the leading drawers.
very weak until Wednesday afternoon, Influenced by
DAILT POSTED BATES FOB FOBBION EXCHAMGB.
the

receipt ot large

amounts

of

commercial

bills

drawn against cotton, these being pressed upon the
market for the purpose of obtaining cash with which
to purchase cotton at the plantations to supply the

demand

for the export of the staple.

As has been

the

case in the last fortnight, the Inquiry for these bills

was light, bankars taking advantage of the libera]
offerings and refraining from bidding, and consequently extremely low figures were recorded. There
was only a small demand for bankers' bills until
Wednesday afternoon, when purchases were made to
cover gold exports, under the Inflaence of which
there was an upward reaction; the market was then

an advance Ic
Thursday there were
the Bank of Eogland rate.
On
fewer •fferlngs of commercial drafts, though the
volume was not materially reduced, and the
tone was steadier.
The fall in sight exchange
this week was
to points lower than those recorded since November 6 1900, when. Influenced by
dear money, such drafts sold at 4 83i; though 4 8290
was the lowest recorded this week, some Chicago bills
As above
are reported to have been sold at 4 82|.
noted, the week's engagements of gold for import
from London amounted to (5,075,000 and the bulk of
the metal was procured In the open market. It was

somewhat

affected by expectations of

MON..
Nov.
|«o/j*T.

S'OwnBro.
aarlng,

(

MagOTUi & Co.
Sank British
No. Amerioa..
aank of
Montreal
:anadian Bank
of Commerce..
.

(
(

00 days
Bight .
60 daya
Sight..

6.

4 81«
4 HK

4f5)i
4 81X
4 85

(

4 62
4 85«

60 days

4 82

60 days

Sight..
Seldelbacb, lok- ( 60 days
elkeimer* Co. (Sight..

4g5«

t...ardFrere...|W*«"

4

iderohants' Bk.
of Canada

(

60 days
(Sight..
(

^^

4i-2

Sight..

}

A'OD. 8.

8m
81^

85
4 82
4

86«

The market closed

at 4

@4 8335 for short and

WBD..

10.

80^

Nov.

Tbub.

11. N<yv. 12.

FBI..

Nov. 13.

80«

i^«
81

80
84
81

80
84
81

84
81

£4«

84^6
81

84«

84H

gOJi

mi

80X1

81

85
62

84M

81«
81

84>4
81

84K

81

8BH

84«

84«

84«

84«

81

81

81

84H
go^

84«

81
84 Ji

f^

81

4
4 85

4

Tms..
Nov.

81

80
84
80
84
81

85

84«

84«

i;«

84 Vi

8m
85

84M

7960@4 7975 for

84^
80«

80

81

84
81

84«

84^

84
60
84

84

80«

long, 4 8325

4 8376 @4 8390 for cables. Com-

and documents for
payment 4 78i@4 79f. Cotton for payment 4 78^®
4 78f
cotton for acceptance 4 7925@4 7935 and
grain for payment 4 79f @4 79|.
mercial on backs 4

7925^4

7935,

,

The following
to

and from the

Interior

Wuh tniing November

13, 1908.

Cturenoy
Gold^.

movement of money
by the New York banks.

gives the week's

...

Total gold and legal tenders.

Received by

Shipped by

N. Y. Banks. N.Y.Banka.

Net InUrior
Movertwnt.

$4,907,000

$(•,001,000

934,000

1,234,000

Loss.

300,000

$6,601,000

$10,235,000

Loss.

4,834,000

£.088. $4,034,000

1840

THE CHRONICLE.

With the Sab-Treasury operatloDB the

result

[Vol. lxxvii.

as

which came to a head on the 3d was a surprise anyfollows.
where, it must have been at Bogota In this country
it seemed a rather probable event.
Under the circumNet Cluing in
Into
Out of
WMk ending Sovembtr 13, 1003.
stances it could hardly have seemed otherwise.
Holdinte.
Bank
Banks.
Bank*.
The first duty of a government is to take all reasonBanks interior movement, as aboye •S.fOl.OOO 110,838,000 Loss. t4.83t,000
L088. 8.000.000
86,^00,000
finb-TreastirT onerations
23,200.000
able care of its citizens and their affairs abroad; this
$80,101,000 •86,485,000 Loss. 7,831.000
Total BoM and leeal tender*
is one function for which government exists.
To
"protect American interests"
wherever put in
The following table indicates the amount of bullion
jeopardy, and to be in position to do so wherever a
in the principal European banks.
need is reasonably suspected, is a duty which will not
Nm^eviber 13. 1002.
Ncnember 18. 1008.
be questioned. Governments usually have special
Bonk of
eou.
Silver.
lotal.
JotdL
Gold.
aUver,
sources of information, and they are bound to have all
knowledge which the public has; hence our Govern£
£
£
M
88,347,017
88,164,8«7 33,347,017
88,IH4, 867
England
ment would have been dull indeed had it not been
0«,7vO 374 44, ,(•04,547 iaO.M84,021 101,234,004 44,190.737 145,304,831
Frmno*
,:'4S.0O«l
43.63:,0O0 31,483,000 11,644,000 43,127,000
S2.aS4
aware that an outbreak on the isthmus was liable to
0«nnan7....*
84,801,000 74,187,000 6,540,000 80,667,000
,703,1 00
78,00:*, ,000
RnMla
Having such knowledge that disturbance
occur.
Aiia.>Hnns'7't 46,448. ,000,13, ,06d,00() 58,614,000 46,^11,000 18,167,000 68,86S,000
14,824.000 10,663,000 83,877,000
,71.0.000 3S,2i»l,000
14,601, OlH1
Spain
might come, ordinary prudence required some readi411,000 Ji3,187,000 16,479,000 8,088,800 18,517.800
80,: ad, OOol
Italy
4,607.800 6.40S,700 11,105.000
Suppose there had been
,8»2,700 10,377,300
ness to meet the emergency.
4,C84, eoti
Netherlands
4,743.000
64.'j,000
4.935,000
8.162,000 1,681,000
8,800, ,ooo'
Kat.Bel8'm.»
none, and that there had been no warship within two
Tottbls week S27.S99.841 103486D47 480,731,5-8 325,063,211 104083837 420,143,448
thousand miles, would not the Government have been
Tot. prer. w'k 3a7.163,7»4 103786003 430,878,73T 8^^,685,480 104302168 486,837,638
in fault, and would there not have been sharp and
*
(between gold and Bllyer) glyen In oar table ot oola
Is

—

6,

[

1[<

8,
e,

.

1,

Tke dlTlBlon
and bolllon in the BanM

ot Germany and the Bank of Belglom 1b made
from the beet estimate we are able to obtain; In neither case is it
elalmed to be aoourate, as thoee banks make no distinction in their
weekly returns, merely reporting the total gold and silver, but we

we make

a close approximation.

just criticism of Its remissness

This case

is

that time the

?

made peculiar by the Treaty of 1846. At
Panama Eiilroad had not been begun,

had been talked of, as a canal had been;
begun anywhere in the
railroads had
hardly
United States; California was all in the future, and
the Crone has really no in-eater valae than 20 cents, oar cable correspondent In
London, In order to redace Kronen to A, has altered the basis of oocTerslon by we had no Pacific States nor (In a real sense) any PadlTldlns the amount of Kronen by 84 Instead of 80
cific Coast.
By that treaty New Granada guaranteed
the right of way across the isthmus upon any existing
or future modes of communication, and in return the
PANAMA REVOLUTION AND THE CANAL. United States guaranteed neutrality on the isthmus
The breaking away of the department or, as we and (of course as against other nations) the rights of
should say here the State, of Panama was not an sovereignty to New Granada. In transmitting the
unexpected occurrence. Panama is related to Colom- treaty President Polk dwelt upon the importance of
bia like a long arm thrust out into the ocean, and its an uninterrupted transit; and repeatedly since then
lioUtion from the rest of that country is almost as the obligation to maintain neutrality there has been
marked otherwise as it is geographically. There has enforced, either by intervention or by official expresDr at least of polilong been a conflict of Interest
sions.
For example, Mr. Seward who has been dead
cies and feelings, Panama having more communica- more than thirty years
said that this country had
tion with the world and being somewhat more pro- taken and will take no part in any internal revolugressive in ideas than the interior.
tion, but 'Hhe United States will nevertheless hold
That State seceded once before, and the bond themselves ready to protect the transit trade across
Complaint has been the isthmus against Invasion of either domestic or forof union has long been feeble.
loud that her revenues have been unfairly used for the eign disturbers of the peace of the State of Panama.''
benefit of the rest of Colombia; but the canal has
That the present "internal revolution" occurred on
the burning question, and upon that this semi- the isthmus and not at the capital is due to the nature
been
detached section and the Interior took strikingly op- of its causes and not to any policy of this country.
Building a canal was not seriously It is possible that the leaders of It were aware of the
posite views.
objected to anywhere, but the Interior misunderstood treaty; but if that is so the fact has no bearing on the
the situation and assumed that this country had set treaty obligations. How far the Bogotan Government
its heart upon the more southern route and would would have fought the seoeders, or whether it would
pay accordingly; hence the Bogotan Congress, in which have succeeded in quelling the movement had it been
the Isthmians were a minority, sought to alter the permitted to occupy the isthmus, is of course conjecterms. To the interior the case seemed an oppor- tural; but if the railroad had been left available for
tunity to drive a sharp bargain with a rich and eager military uses, it would inevitably have been disturbed
customer; to Panama, which considered the building for other business. Fighting might have occurred at
of a canal there of paramount importance to its own both termini and along the line; the road itself, which
One is partly American property, would have been exfuture, the case also appeared an opportunity.
wanted to sell the canal concession; the other primarily posed to injury; a condition of turbulence for an indefinite time might have followed, in which the guarwanted the canal.
during the last six anteed neutrality and uninterrupted transit would
It has been intimated repeatedly
months that rejection of the canal treaty might be have been ended. Surely this is too plain to need
followed by secession of Pinamaand perhaps of Oauca. urging.
The bearing of this upon the final determination of
which would set up an independent government and
with the United States. the canal is another question and need not be disgeek to resume negotiations
t>«lleTe the division

is

though

it

The Anitro-Hnnsarlan Bank Statement Is now Issned In Kronen and Her«r Instead of Qalden and Krentier. The reduction of the former ourrenor to
iterUns £ was by oonstderlns the Onlden to hare the valne of 60 cents. Ai
*

—

—

—

—

—

—

Apparently these intimations may have reached the cussed now. The conditions including seismic hazColombian Congress and have been used there as an ards which make the preferable route were fully set

—

argument

for ratification;

at least,

if

the

movement

forth in the

Chronicle

nearly two years ago, and

•

THE CHRONICLE.

:N^0V. 14, 1903.]

Deed not be considered again. They atill Bt:ind, and
they are geographical and physical conditions, which
are unaffected by anything that governments can do
or not do.
Bat since there is some disposition
to cite the unsettled state and restless character of
the people as an objection to the lower route, it is
only lair to point out that this applies quite as
strongly to the other. Nicaragua and Oosta Rica also
are turbulent; moreover, although the lake and the
canal which would join that with the Pacific are

1841

our doors, wMch is already large, which is capable of
great expansion, and which is especially important to
the development of our export trade. It would be indeed short-sighted for us to refuse to take advantage
of such an opportunity, and to force Caba into making arrangements with other countries to our disadvantage.

This reciprocity treaty stands by itself. It is deconsiderations of broad naMonal policy as
well as by our economic interest.
It will do harm to
no industry. It will benefit many industries. It is in
the interest of our people as a whole, both because of
wholly within Nicaragua, the canalizi^d river of the Its importance from the broad standpoint of internaNicaragua route lies for its entire length close to the tional policy and because economically it intimately
boundary, and a considerable portion of it forms the concerns us to develop and secure the rich Cuban
market for our farmers, artisans, merchants and manline itself. A boundary between countries is naturally
ufacturers.
a subject of dispute, and is liable to be a field of
The right or wrong of the matter, considered from
warfare. Any objection which can be raised on the
score of our police duty and the difficulty of protect- this point of view, has never appeared to us debatable*
ing the work against raids and the like applies with It is true that our Senate had not assented in advance
as much force to one route as the other.
If difl&cul- to the full arrangement ; but it had not only assented
ties are to deter, the argument is conclusive against to, but s'ipulated, the most important part of our side
of the bargain
namely, the cession of the islandi
any canal at all.
and the control of Cuba's foreign policy. These fruits
of the general arrangement with the new republic we
CONQREaS
CUBA.
ec j ^yed at once, and it is not a fact to be recalled with
It is unfortunate, perhaps, that the project of
pride or pleasure that with our two years' possession
Ctiban reciprocity, to consider which the extra session
of those privileges we should have postponed the
of Congress convened on Tuesday, is obscured in the
granting to Cuba of the agreed consideration. We
public mind by the more exciting topic of the Panama
do not propose to enter here into the question of what
negotiations.
Possibly, however, this very fact may
influences, political or commercial, may have operated
turn out to be fortunate for the Cuban treaty, because
to retard that act of j astice.
It is sufficient to say
perfunctory opposition may be diverted by a general
that the hour had plainly come when performance of
wish to settle a dispute with one State to the south
that act could be deferred no longer without national
of us while preparing to consider a more serious disdishonor.
pute with another.
We may cite one final reason of no slight importThe Cuban affair is simple and the story has been
ance in our judgment why the concession to Cuba's
very often told, but it may be worth while to re-tell
sugar producers would be incumbent on us as a farit. The Constitution adopted in 1901 by Cuba declared
seeing Government, even if such policy were not perthat country to be "a sovereign and independent
emptorily dictated by considerations of pledges exState." To this clause, among others, our own Contended and equivalent benefits exacted. It is in a
Ij;re8s assented ; but it conditioned its assent, first, on
peculiar way the interest of our Government that
the right of general supervision by ourselves over
Cuba should er jay industrial prosperity. The island's
Cuba's foreign policy ; second, on the right of veto
industrial adversity during the ten-year period before
on Cuba's borrowing expedients, and third, on Cuba's
America's intervention had quite as much to do with
relinquishment to the United Siates of certain small
its chronic state of insurrection and anarchy as did
islands suitable for coaling stations in its waters.
To
actual misrule by Spain or the wish for independence.
these provisos Cuba assented, the stipulation being
FdU in the price of sugar aggravated in the case of
carried out by a treaty executed almost simultaneously
Cuban producers by hostile American tariffs rewith the installing of the new Cuban Goverjment
duced the industry to such straits that transformation
But the Cubans did not yield readily In these matters,
of workingmen and plantation owners into mobs and
and their assent was gained only through the pledge
guerrilla bands was an almost inevitable conseby our executive officers of a reciprocity treaty which
quence.
should throw open our markets to the Cuban sugar
That observer is very short-sighted who does not
product. This pledge, moreover, was not granted
see the dangers inherent in any possible repetition of
without a substantial quid pro quo, exclusive of coalsuch trade conditions. The United States has pracing stations or control of Cuban State policy.
the Cuban GovernThe treaty prepared by our Administration to em- tically guaranteed the stability of
ment; therefore our status in the event of another
body the concessions to Cuba was a true reciprocity
revolt of a discontented population would be that of a
treaty; it not only gave to Cuban sugar a preferential
Instead of arming to help
directly interested party.
market in this country, as compared with other forsuch revolutionists to independence, we should be
eign sugars, but it guaranteed for our own manufacsummoned to send our soldiers into Cuba to put down
turers and producers equal and in some cases greater
an insurrection. What that meant, the experience of
advantages in the Cuban market. President KjoseSpain has taught us; and if it had not done so, we
velt's message, submitted to Congress on Tuesday
might have learned the truth from our own experiwith the treaty, sets forth this phase of the negotiaences in the Philippines. With how much poorer
tion with emphasis. The President says :
grace could this country at some future time have
The treaty submitted to you for approval secures to
undertaken this unpleasant task, if responsibility for
the United States economic advantages as great as
those given to Cuba. Not an American interest is the conditions making that act inevitable ky directly
sacrificed.
By the treaty a large Cuban market is se- at our door and were involved in a broken pledge of
cured to our producers. It is a market which lies at the United States ?

manded on

—

AND

—

—

—

—

THE CHRONICLE.

1842

Tbus

[Vol. Lxxvn.

in every

way the

a favorable one,
a large traffic for the railroads and
At the present time, when auoh gloomy vlewa pre- abundant food- stuffs for cattle, hogs, etc.
In the
reassarlng table which follows we show the Indicated production
vail in Industrial and financial circles, it is a
fact to get evidence that oar leading grain crops, of 1903 in the leading corn- producing States, as comupon which so much depends, have yielded very satis- pared with the production la the same States refactory results the present year very much more so ported for the previous f'^ur vearp.
COBN CKOF FOR FIYB YBAB8.
than seemed possible at one time. The only import
ant crop as to which any doubt: still existed waa the
ProIniicattA
ProProProCorn.
Production^
duction.
duction,
duction,
Auction,
corn crop, and the doubt as to that crop has now been

THE GRAIN HARVESTS OF

190S.

situation

is

promising

—

1903.

1903.

1901.

Bushels.

Bu»hel».

Bushels.

completely removed. In other words, the estimates
of yield per acre for corn, published this weelc by the
Department of Agriculture at Washington, give us the

Iowa

an.oi 1.000

Illinois

809,921,000
179,821,000

exact facts as regards the indicated yield of corn. The
figures with reference to the other leading grain crops

HlBSonrl
Nebraska.
Indiana

were previously furnished, so that with the added
data for corn we are put in possession of a pretty close

Ohio
Texas

Indication of the grain harvests as a whole.
are not final, being

subject to re-

the end of the year, but

there seems no

the present
vision

at

Of course

fis;ures

reason to think that the modifications will change the

Kansas

204,893.0

142,581,000
89,286,000
140,761.000
76,294,000

Tennessee....

Kentucky
Pennsylvania.

88,546,000
46,448,000

Arkansas

48,213,000

Wisconsin....
MlohlKan.....
Minnesota....

43,639,000
44 212,0
40,727,000

Total

general result materially.

178,3a9,')(

All others

1900.

1899.

Bushels.
242,249,841
247,150,332

837.621,228
163,916,064
224.373.268

297,686,016
872,436,416
832,808.621
264,232,606
262,620,173

280,264,650
198,086,713

Bushels.
305,869,948
264,176,226

61,508,034

16.3,870,630

66,436,8:6

180,710,404

109,141.840

171,332,142

87,763,641

810.430,064
153,200.800

121,608,512
44,867,416
73,081,328

80,313,302

106.890.188

90.048,816

60,050,996

81,962,910

46,129,688

56,997,880

90,093,357

19,675,178

69,267,224

81,151,898
69,997,760
65,892,687

63,668,486
50,656,042
42,426,819

61.003,330

82,707,900

40,266,878

18,702,122

45,225,947

48,087,140

40,021,152

49,547,240

41,666,365

35,193.814
33,826,569

45,636,560

38,888,460

36,797,466

31,794,708

26,476.360
31,172.272

141.862,594

1.846,613,000 2.186,422,776 1,179,257,7^8 1,791,530,629 1,730,430,981
466,628,000 897,223,5361 318,262,163 318,571,987 347,712,968
1

and noteworthy fact that the indica- Total U. 8
L3.813,140,000 2,823.648,312 l.522,619,H91 2,106.102.616 2,078,143.983
A study of the toregolng statement shows wide
tion3 with respec!; to corn hive steadily improved
throughout the season. The crop was a very late differences in the outcome in the different sections of
one, and based on that fact there had been very posi- the country. In the great corn belt of the Middle West
I*:

is

tive

a striking

statements that the yield could hardly be

ex-

pected to reach large proportions. Ttiose Interested
in depressing prices on the Stock Exchange never
ceased laying stress on that fact. To be sure, every
one recognized that with the crop late an early frost
might do an unusual amount of damage. One or two
quite severe frosts actually did occur in September,
creating a great deal of alarm, but fortunately it happened that the frost covered only a limited area. The
result was, as we pointed out a month ago, that the
Agricultural Department's report for the first of October actually showed a somewhat better average condition than that for September 1.
Now that the
estimates of yield per acre are available, the excellent

promise afforded by the October report is confirmed
and emphasized. The yield per acre for the who'e
country is reported as averaging 258 bushels per acre,
which is only one bushel less than the average last
year, and compares with but 16 7 bushels for 1901,
when the country experienced such a tremendous crop
shortage.

In midsummer no one had dared to look for a total
corn crop in excess of 3,000 million bushels. In>
deed it was considered then that the country
would be fortunate if that figure were attained

Now

the Agricultural Bureau

figures indicate a total

itself

states

yield of about 3,313

that its
million

buehels. This compares with 2,623 million bushels, the

the corn yield
yield of

fell

materially below the exceptional

1902; contrariwise in the Southern States

where the production was pretty generally larger than
that of last year.
This variation in the comparison
hB between the different sections of the country will
doubtless account for the erroneous impressions as to
probable total yield which prevailed at one time.
Predlctiona of a falling off in the Middle West stand
verified, but what has been overlooked is that the
greater portion of the loss was made good by the

augmented

yield in the rest of the country.

Still It

cannot be said that even in the West the crop wai
small; it merely did not reach the exceptional proportions of last season.
Illinois ranks first with a total
of 309 million bushels, which is considerably above
the average for that State In recent years, but compares with 372 million bushels In 1902. Iowa's yield
is 221 million bushels, comparing with 297 million
bushels.
The Kansas crop works ont close to 180
million bushels, which compares with 232 million
bushels In 1902 and but 61 million bushels in 1901.
Missouri seems to have raised 178 million bushels,
this contrasting with 264 millions in 1902 and 66 milNebraska has a total of 204 millions,
lions in 1901.
against 252 and 109 millions, respectively. Indiana
has a crop of 142 millions against 171 million s and 87
millions, respectively, in the two years preceding, and
Ohio 89 millions against 121 millions and 80 millions.
On the other hand, Texas raised the largest crop
on record nearly 100 million bushels more than last
season, tne indicated yield for 1903 being 140 million
bushels, as against but 44 million bushels in 1902 and
60 million bushels In 1901. Tennessee had a good
total last year, and has further Improved on the same
the present season, the production for 1903 being

and with 1,632 million bushels, the
crop of 1901. In other words this year's corn yield falls
but 200 million bushels below the extraordinary we
might almost say phenomenal crop of last season.
The average of quality la actually better than last
year, which means that the crop comprises a smaller
percentage of soft or nnmercbantable corn. The
general average as to quality the present season is put given as 76 million bushels, as against 73 million
bushels in 1902 and 46 million bushels in 1901. Kenat 83*1 per cent, as compared wi^h 80'7 In 1932 and
73'7 in 1901. Furthermore, it ia estimated that about tucky's corn crop did not quite come up to last year's
6*2 per cent of the corn crop of last year was still in total, but Is much above that of other years, with the
the hands of farmers on November 1 1903, as com- single exception of 1902.
Speaking of the grain harvest as a whole, the oats
pared with 1*9 per cent of the crop of 1901 In farmers'
hands on November 1 1902 and 4 '6 per cent of the crop is the only one that shows a material loss, as we
crop of 1900 in farmers' hands on November 1 1901. have noted on previous occasions. The production
crop of

last year,

—

—

—

THE CHRONICLE.

Jifov. 14, 1903.]

1843

^or 1903 in the Uulted Scates will be aboat 787 million

products is the natural sequence. Such a situation
200 in turn means better prices and a larger market for
million bushels, proportionately much heavier than the products of the Cotton Oil Company, since many
the corresponding amount of loss in oorn. The wheat of these products compete with the others. Bearing
crop comes very close to last year's total, figuring out this in mind, and recalling further that the fiscal year
about 669 million bushels, as against 670 million bush- 1901 02 followed the corn-crop shortage of the season
els in 1902 and 748 million bushels in 1901, the latter of 1901 (one of the most disastrous failures of the
the very largest ever reached. We furnish below a corn crop on record), it will readily be seen that in
summary for the last fiye years of the production of that period of twelve months, with prices steadily risthe leading cereals, namely oorn, wheat, oats, barley ing, the Cotton Oil Company got advantages of no
and rye.
ordinary proportions, and a repetition of which could
OBOPS OF WHEAT, CX>RN, OATS, BABLBT AND BTK.
only be expected in the case of a repetition of the
Total
1901.
1903.
1900.
conditions which produced them.
1903.
1899.
Production,
On the other hand, the fiscal year 1902-03 followed
BxtsheU.
Buthels.
Bushels.
BuiheU.
Biuhel*.
Corn ....
8,813.140,000 2.623,e4''.31 2 1.5.'2,619,!^B1 2,105.102,618 2,078,143,933
the phenomenal corn yield of the season of 1902, and
Wheat.
868.028,0(0 b70,0«3,008
748.460,318 5a8,a2fl,6«5
647,303,816
OaU
787.689,000 087,842.712! 736,808,724
809,185,989
796,177,718
the trend of prices in this period of twelve months
131.789.000
134,954.023
109,932,924
68.929.833
Barler_.
73.381,563
was therefore downward. The contrast ,therefore, is
33,H80,6U2j
89.344 830;
Bre
20.373,000
23,995,937
23,961.741
Total..
|S,B»0.919.000 4 350,1 °8.647l:t. 157,066.68'? '3.619.879.770 3,818,9H8.7Pe
between rising prices in one case and declining prices
* Rerlsed dKores; orljitnal tlgures much lower.
in the other case.
Stated in another way, 1902-03
The aggregate for the five crops, it will be seen, is simply marked a return
to normal conditions from the
8,920 million bushels for 1903, which is some 430
abnormal conditions pravailing in the year immediately
million bushels less than the extraordinary yield of
preceding. To show the course of profits during the
1902, but 763 million bushels in excess of the short
last six years, we give the following table. We add for
crop of 1901 and some 400 million bushels larger even
each year the rate of dividend paid on the common
than the country's yield of these same crops in 1900
stock of the company.
and 1899. It remains to add that the hay crop this
Dividend on
season has also been unusually satisfactory, the yield
Tear Ending Aug. 31—
Common Stock
Profits.
$1,314,221 55
3 por cent.
per acre having been 1*64 tons as against 1*50 tons in 1898
1899
4
1,637,814 53
1902, 1-28 tons in both 1901 and 1900 and 1*35 tons 1900
"
312
1,497,182 61
2
1,091,857 47
in 1899.
In brief the hay yield has been one of the 1901
bnahels, as against 987 million.

This

Is

a

loss of

I

.

1902
1903

best of recent years.

OIL REPORT.

The annual report of the Americau Cotton Oil
Company for the fiscal year ending August 31 1903
has been published the present week, and from the
fact that it shows a considerable falling off in profits

compared with the twelve months preceding the
conclusion has been drawn that the company had a

as

poor year. This conclusion is not at all justified, it
appears to us. Profits have been of fair average proportions, as we shall presently showj even though not
equaling those of the previous year. We think it important that this should be understood, in view of the
recent experience of the Virginia- Carolina Chemical

Company, which

6
4

"

3^ percent.
From the foregoing it will be seen that the average
profit for the six years (including the exceptional
total of 190102) has been $1,651,661, comparing with
$1,630,081 profits for 1902-03, showing that the late
year was just about up to the average. The dividends
paid also figure out in much the same way, the average for the six years being 3| per cent and for
1902 03 4 per cent. Out of the exceptional profits of
1901-02 the dividend declaration had been 6 per cent;
out of the late year's profits the dividend, as just
stated, is to be 4 per cent.
We say is to be, because
the dividends are not announced until the close of the
fiscal year and the distribution is made in semi-annual
instalments.
On the 6th of the present month the
directors met and declared 4 per cent out of the
profits of 1902-03, payable 2 per cent Dacember 1 1903
Average

AMERICAN G07T0N

2,238,20648
1.530,03132
for six years

$1,551,501 00

the reader knows, been
obliged to suspend dividends on its common stock,
and which besides its other business is also in the
cotton oil business, through
its control of the and 2 per cent Jane 1 1904.
Southern Cotton Oil Company.
After meeting the requirements for these dividends,
The truth is, the year preceding had been entirely and also taking out the regular 6 per cent dividends
exceptional in the matter of profits, and it is only by on the preferred shares, a surplus balance of $108,681
contrast with these exceptional figures that the result remains on the operations of the twelve months. In
for 1902-03 appears unsatisfactory.
In 1901-02 profits the previous year the dividends, as already said, had
were reported 12,238,206; for 1902-03 they are given been 6 per cent. It will be noted from the table above
has,

as

Going back a little further, however, that this is the sixth consecutive year in which diviit will be found that in 1900-01 the profits were only dends have been declared upon the common stock of
•1,091,867; in 1899-1900 they were 11,497,183; in the company, showing that the business of the con1898-99, $1,637,814, and In 1897-98, $1,314,221.
The cern is on a well established basis.
reason for the high total of 190102 is found in the
Chairman George A. Morrison, in his remarks,
peculiar conditions
that then
prevailed as re
points out that the strained financial conditions which
gards the products with which the goods
of have prevailed during the year have not affected the
the American Cotton Oil Co. come into com- company. During the period when seed buying is in
petition.
Tae reader may not know that the progress, which covers about five months, the com.
size of the cotton crop and the price of cotton seed pany is obliged to borrow in a small way (there were
are not the only factors in the business of the Cot- $1,060,000 bills payable Aug. 31 1903, and $1,000,000
ton Oil Co. The size of the corn crop is an element bills payable Aug. 31 1902), but there is no time duras 11,630,081.

of equal,
yield

is

if

not greater, importance.

When

short a diminished supply of hogs

the corn

and

of

ing the year, sa) s Mr. Morrison,

hog and the2[qulck

salable assets

when cash

in

do not exceed the

bank

sum

THE CHRONICLE.

1844

of ezlsticg debenture bonds and of current liabilities.

The quick

Aug. 31

1903 were 17,199,838,
while the total of current liabilities, including the $1,060,000 bills payable already referred to, was at the
assets

same date only $2,774,024, and the amount of the debenture bond issue no more than $3,000,000.
Aside from these $3,000,000 debenture bonds, the
company has no funded Indebtedness, and all the properties of the organization are free from mortgage or

The

other liens.

report telli us that since the yalu-

made in 1893, $3,878,330 has
been expended in repairs and charged to operating ex
penses, and $2,866,590 has been put into productive
permanent improvements and added to assets. This
has been accomplished without any increase in capital
ation of the properties

took.

As

illustrating the

sound way In which busi-

being conducted, the report repeats a statement which has been contained in every recent report, to the effect that the percentage of loss from
bad debts for the late year did not exceed the average
of the past thirteen years, namely less than one- fifth
of one per cent.
ness

is

tain the large totals previously reached.

Oar compilations cover 90,609 miles
roughly, a

little less

—and

thirds million dollars increase

down

to comparatively

small dimensions. In our
compilations below, covering the month of October,
there is cot a single road or system showing a

gain as high as $500,000, and in fact only one,
the Baltimore & Ohio, as high as $400,000; the
next best figure being that of the New York Cen-

with $367,408 increase.
Of course we are
speaking now of the roads only which furnish early
preliminary returns. This excludes some very prominent systems, and in particular the Pennsylvania
Bailroad system.
But in these latter Instances the
gains in the past have been of even larger dimen-

tral,

'

sions, those of

lines east

the Pennsylvania on the combined
and west of Pittsburgh and Erie having

early in the year several

times exceeded $2,000,000

per month.
It is

now be

follows such large consecutive gains in previous
years.
In ratio the gain amounts to 6 '34 per cent.

For October

more moderate proportions. Labor troubles

have been very conspicuous all through the present
year, and with confidence in financial circles at the
same time deeply disturbed, trade has been slackening
in certain directions, while the iron and steel industry,
as every one knows, has become much depressed. Such
conditions would naturally in the course of time be
reflected

in the

provement reached $8,244,391 or 13-39 per cent.
following carries the comparisons back to 1893.
muage.
Tear

some

Groti Barningi.

Bivtn.
October.

MOet.
98,3S8
93.837
V9 474
92,816
97,164
93,881
94,836
88,014
101,364
91.631

89.894
93.010
99,878
93,061
96,866

.896 (127

roads)

.897 1127

roads

.900

or

Preeedino.

Decreae*.

»
49,790.091

t
50.876,5(0 Dee. 1.O88.409

Dee. 9,880,828

45,854.fl0'*

4B.234.i'a'<

55,130,068

51.777,79: Inc. S.858,866
50,364.88- Dec. 2,380,997

47,974.125

53,959,376

49,604,841 Ine. 4,364.536
51.6^6,00 Ine. 2,378,838

93,875

58,978.132
59,8S2.586

86,876

66,051,244

99.698
f^9,6U

74,763.5:0

69,818.60? Inc. 2.732.730
66.50y,17^ Inl- 8.244.891

69,104.882

64.760,482 ine. 4.844,400

90,509

88.557

12,iOS,97i

68,789.480 Ine. 3.667,612

(114 roads)

89,034
92.961
93,060

88,540
92,218

418.783.977

(116 roads),

416.150.861 Dee. 8.800.684
413,956,987 Dee, 68,690,701

(

93 roads)
(99 roads)

.901

BOS (78 roads)
903 (72 roads)

Jan.1
898
894
898
896
897
898
899
900
901
902
903

Inereoie

Tear

Oiven.

Mile*.

.893 (IIT roads)

The

Tear

Tear
Frecedino

9<!,684

3i"1.298.88r

97,-<64

418.7 7rt,84:i

91,114

(130 roads)
(122 roads;
(123 roads)

90,650

883. 169.171

,S99,«93.871 Ine 19,082,478
871.098,«64 Ine 18,072.318
897,417,'<:6l

96.417

95,128

415.675.8

(183 roads)

98,681

439.65i.8-««

(102 roads)

93,464

91 roads)
(94 roads)
(77 roads)
(71 roada)

87,150
99,916

92,634
91,9^6
8i.(ll

98.259
t9,575
88,199

595,247.5:1'

(

'

63.323,877 Ine. 6,868.869

to Oct. 81

91.495
00,451

NOTB.— We do not Inolade

As

far as the

^

467.646.154
462.386.H82

667,732.410
e31,403,24K

Ine 18.158.007
400,164,71 Ine 38,988.142
426.901,050 Ine .40,740.104
421,832,209 Ine 41.114.623
636.350,666 Ine 59,898.981
524.404,004 Ine .43 838.436
56!),51I.fe88

Ine 66.891.862

the Mexloan roads In any of the yean.

grain

movement

at the

West and the

movement in the South are concerned, the latwas quite irregular, while the grain movement was
heavier than last year, though not all roads, nor all
The wheat
receiving points, shared in the increase.
receipts were much smaller than a year ago, aggregating for the five weeks ending October 31 only
35,485,638 bushels this year, against 44,043,641 bushels in the corresponding period in 1903; but the corn
deliveries were 17,937,836 bushels, against 10,683,817
cotton
ter

and the barley receipts, 14,533,911 bushTaking wheat, corn, oats,
elsi against 11,566,672.
barley and rye together, the total foots up 91,467,404
19,907,837,

bushels In the five weeks this year, against 87,536,660

special depressing

circumstances, such as
the coal miners' strike in Colorado, which presumably
is the reason for the decrease on the Denver & Rio

Grande. It must also be remembered that comparison
is with very large earnings In 1903
with totals which
had been steadily rising year by year for many years

—

past.

This latter fact, that expansion in revenues has
been so marked and so continuous in the past. Is an

We may

bushels last year.

sponding

five

add that

in

the corre-

weeks of 1901 the receipts were only

75,765,359 bushels.

BBOimi or FLOUB A.HD

OBi.IM FOB FIVE WEEKS BHDIMO
AKD 8IHCB JAKDABT 1.

returns of the transportation lines.

Iron ore shipments were no doubt reduced on some of
the Northwestern lines as the direct result of the
rigorous curtailment of the iron output.
There were
also

year our thble showed $4,344,400 or

last

6'71 per cent increase, while for October 1901 the im-

bushels; the oats deliveries, 33,444,383 bushels, against

not surprising that the improvement should
cf

evidently a very com-

ment

L899 (105 roads)

no longer record such
strikingly large gains as was the case up to a short
time ago. This is true of the roads both individually and collectively.
It Is not so long since that
gains on many of the separate systems ran from half
a million to a million dollars a month. Now the improvement is gradually being reduced and getting

is

fortable sum, especially considering that the improve-

.888 (123 roads)

Kailroad gross earnings

road

of

than half the total mileage of the
the gain reaches $3,667,513 over the
month last year on the same roads. Three and two-

country

.895 (133 roads)

OCTOBER.

Vol. lxxvii.

important one to remember, modifying adverse conclusions which might otherwise be drawn.
Obviously
the railroads will be doing well, now that trade has
received somewhat of a set-back, if they can main-

.804 (119 roads)

RAILROAD GROSS EARNINGS FOR

I

OOT. 31

riour,

Wheat,

Corn,

Oats,

Barley,

Rye.

(^bU.)

(Imjh.)

(.buth.)

(bus/t.)

(bu$h.)

(btuh.)

CMeago—
5 wks. Oct., 190S
5 wk». Oct.. 1902

819.082
714.061

3.R93 046
5.627,3 <4

ilnoeJau.1.1903 6.964,701 19,18^339
ainoe Jaii.1. 1902 6,278,^20 81,196,302

12 829,35" 9,700 825 4.074.437
2.9<6.252
6,411,648 9 179,8 1'
80,501.85 76.790.40. l«,6.*rt.2S7
10.835,882 68,40».4?ii 10,891,174

8T9,8!)6
4I1.»<00

8,618.958
8,140,646

iHiwaukee—
5 wks. Oct., 1003
5 wks. Oct., 1902

887.980

66^051

8iooe JaD.1.1903
Since Jan.l. 1902 2.906.84c

8.6tt2.W20

6 wks. Oct., 1903

sn.otu

1,^82,319
a,2H8,Su0
414.074
7,769,400

824.300
188.060
1,89 <,6U
3,419,170
1.872.l4/i

5 wks. Oct.. 1901;

2«l,3bC

2,613.509
4 382 erSK

riinoeJau.i.ieOK
Hlnoe Jan.1. 1902

1,84.1, Ubb

17,ba(»,22»

l,7e8,41(J

24,910,445

747,000

3,583,840
H.2i».aoo
i3,40S.t90
5.9U0.80(.
9,01«.660

104,000
119.740
786.400
888,207

567.000
617.00"

00

168.400
16S.H11
1.031,497

l,3l29drf

690.848

67-91"

7,2S6 8

"

2,28-i.81fi

878,50- 2.'41.32
19,4«5.963 17.2:^2.11.^
103:^1.040 17.461,15i>

1,919.

—

roiKtri
5 wks. Oct.. 1908
5 wks. Oct.. 1902

dlnoeJau.i.lWOH
Since Jan. 1.1W02

419 600
3,660

781.010

7':6.90(;

1,163.600

264, 70>

.'97.400
6,911.881'

11,231.460

10,75tt.t0i
3.IH2<;9»1

6,l2u.66/

16.700
1,300

64,416
80. Oil

81,260
61,300
149.91^8

277.690

-

1

Nov.

'

Com

Whtat,

Tlour,

OaU,

(imsk.)
1

37.1^0

2T|,1{«>
l.TWI.fli.'

S08.76C

a.Sv3.S<ll

71.411

776 000

6 wki. Oct.,
6 WkB. UiU, 190.'
Since Jan. 1.1903
BlnceJan.l.l90:<

9v5,40<
S.N0U.90.

C.4r(J..3yi

5.P*lLi,44(

4.063.858

a,Se>7.SSr
9.3rtJ.R8V
ll.rtrtOOlB

4.7l<>4.700

^

074

iV.Ub.aOt

e».Odr

17,«00
S-'.S'JO

8ioojL

20\8 «

1.204,7981 2,76R.S15
010,(191

3U

H».095

6,741

l,'r90.000 1.175.80C!
40^,700
1.400.11)0 1.072.3 K
313.10*1
17.lix.050 S,H4N,70i.. 1,608.700
13.003.039 10.730.0kW| 1,1S6,10C>

723.''fHi

2.1il,3Sl

«;-«4 80
4,770.mi0|
3,8.0.660

350.424
M«S.7na
b30.157

'

;

S.(<8j87«
1.003 Oti

A Ohio... ?
B. A O. Southw... S
W. Y.Oent. A Hud. R..
OaniwltaD Paoltlo
Mo. P»o. &, Iron Mt.

Central Branou..
Sonthern Railway ....
Norfolk A Western
Or.'rrank Bys.Or'dB).
LoalsvlUe tV NashvlUe

Minrt'avoUt—
18.0}! 9 >0

5 wki. Oct., luOS
9 wks. Oct., 1909!
aince J au. 1.1903
SlsoeJan.!, 190a
Kaneas CHtv—

4.481,«81
2,'7->,3l»i'
15H,13
2,440.05' ltt.OI3,OH»
2,686,ti65 8,617,803
240.76'

1«.(5<)|»3«

08.'34:>-0
ei.516.86»
5.019.400

Since Jan. 1.190."
BlnceJan.l.l90a
Total nf ali—
6 wks. Oct., 190.3
6 wks. Oct.. 1902
Since J&n.i. 190S
atnceJau.l.ll<02

786 6*

8,90-. 2J
26.822 Oiu
ao.oui,t8

Oct., 1908
Oct.. 190a

12.04l,8«(

3.131,310,

2i5,770

2.120.114';
8..^7l.lOl

:i03.a8i
1.12U8-.40

MS 704

4,894,668

82J.80I
I,S94.«00
6,724.000
7.513.0 N.

926.200
ll.Oi^i.dOi

279,'i08

27^,087
266.392
252,978
236,199

Wabaah RR

Northern 8y8

Or»-a

}

Montana Cen'ral
IlllnolH (Jeutral

Pere MarquetteU
Central ol Georgia
Mo. Kansas & Texas..

MoblleAOhlo
Oln.NewOr.AT.Pao..

61.52%
61,330
57.542
57.230

A)

.

a.468 06.'' 35,4'i5 5S8
2 7t19.K9 41.043 04

22,444.3^3 14.5S3.911
10.6^2,81 |lw,907,«>|- 11.»«P.674
15.994 583 i8'<.x58 45- ir4,881.17' 15O^0l»736 47 Of 0.134
17.615.90- .93.3»9.ul. 90.704,071 13155.70: 30,929,320
17,l'37.«3fi

l,0fl5

736

l,4^5.^03

1

6.525.11125

6.7S[).b07

CUlo. Ind.

A LiOUlBV.

33 roads)

.

^3,963,165

Decreases.

YasooA

Miss. Valley.

$163,233
112.298
46,261
80,400
36,081
31,455

Northern PaoitloH....
Bi.LoulB Southwest...
Denver <b Rio Grande
Minn. A 8t. L<oalH

V61.7H

Ohio Cent...
Ala.N.O.AT. P.Or'ds)
Lake Erie & Western
Toledo

*52.4S7
46,139
43,354
40,H58
32,173
y31,904
30,828

Total (representing

129,764
113.236
84,648
79,700
79.658
67.194

s

.

I

$183,644
367.409
347,69i
314,905

BABBIHQ8 IN OCTOUUIl.
lucreaaea.

Nash. Ohat. A St. L. ..
Ohio.OrHttt WeHtorn..
Kaiiawhii ii MloUlgan
ttxutheru Indiana
Wheellnx A L. Erie...
Ala. Gr'i Soa'hern
Tol. 8t. L. A Western.

,

Baltimore

0.766,0ll<

;

OKOSN

IH

Inereasea,

,

1.«)1M.W71

12S,-0i
8oo.«o<

OHAROBS

PBIIfCIFAI.
5,579

20

8.037.70

70.FOO
r^i.-sj
Oa^.lO^
b66.940

KXb

l>(Js

all

{

m.bei

410,452
44«."IW

24121'^

number of decreases. The following shows
changes exceeding ^30,000, whether gains or losses.

also a fair

651.0«f

8.-42S40 3.143.rO(
1,J5»700 S.47tf,006

114 27H

ioo.«es
818.7X2
096.990

190-190:i;

24<«,444
IC-i.TSl

293.18*

44.»Ol
S3<l.t6r

Blnoe Jan.1. UKbj
Peoria
5 wks. Oct., 190b
5 wks. uct.. I90i
Since Jaa.l. 19a
81nceJan.l. 19a

wks
5 wks

have already stated that for the separate roads
the gains are not so large at heretofore.
There Is

'

Olevti-tnl5 wki Oct.. 190

6

1845

We

Barley,

(bus*.)

'.buth.'.

6 wk». Oct..
81no« Jau.l.

.
.

THE CHRONICLE.

14. 1903.1

Detroit5 wks. Oct., 19tt
5 wks. Oct., 1901
Since Jan.l.lUO:
aiQceJ&n.l. 1901

:

Internat'l

A Ot

Nor...

I

Total (representing 6 roadB)...

9418,718

Includes Lake Erie A Detroit River Ry. In both years.
y Fi(<ureB cover three weeks of the month only fourth week not yet
II

;

At Chicago by itself we have the figares for the
even month. Here we find the receipts for October
1903 86,134,809 bushels, against 21,731,795 bushels in
1902, 21,889,187 bushels in 1901 and 30,842,323
bushels in 19C0. The live-stock movement, however,
Appears to have been smaller. Of hogs at Chicago

reported.
H Inclndes proprietary roads In both years.

To complete our

—

—

October 1903 aggregate 933,529
1,182,964 head; of sheep 1,201,510

deliveries of hogs in

head

against

against

1,280,103,

and

of

cattle

1,053,267

against

1,016,167.

arranged in groups.
BABNIHOS OF MIDDLB AND MIDDLB WB8TBBN BOAD8.
October.

1.

190S.

1903.

1901.

1908.

1802.

Wheat bash.

3,291,445

Com...baab. 10,227.550

6,633,40-1

0»ta...bash.
Bre...btiah.
B&rler-bnsb.

8, 179,880

8.'503,776

828.036
8.581,004

Total Kraic 26.134,«0»

368.676!
2.<i76.923

21.731,795

2,489,05?
16,383,29(

2,C83,421

1901.

747.980

6(7,567

Pork....bbU.
Ctitm'u.lbs.

600

100

14.287,483

10,3:9.0^:6

Lard.....lba.

2,08»,749

1.0?0.994

5.400,208

26.488.064

IdT* hogsNo

477.155

541.fcl0

653,773

6,21>),73i.

600

3,614

10,485.1451 10,883,42 J

12.54P,'<76 I24,9C9,997

9,102

685,05'

126,83'

420,141

87-i,479

370,946

1J0,92:-

132,2 i5
600,517

132,672

607.071

46^,74^

132,161
39i,934

4.044,801-

3.762,831

8,414.924

•973.594

857.031

759.469

222.624

181.18:

2(!4.44e

201.705
£61,-3»

117.818

110,371

BTanay.ATerre H
Hooklne Valley.

164,4S2
629,386
4,158,045

Illinois Central....

Pere Marquette... •1,068,212
St. L. Van. & T. H.
225,2;«
Tol.* Ohio Cent.
325,971
118,072
Tol. Peo. A West.

t

t
126,860
349,672
f 07,648
112,218
244,960

147 334

8,466,737

3,012,462
692,714

s^SJi&.

811.42
286,64b

349,920

7,628.683

6,912,614

S.088.837

5,100,201

284,813

253,fe85

406,142

878,9bt

8,e00,46b

8,822,141<

181,835
194 K66

833,849
lQ8,8et

246,e4t

L. Brie.

A

t

168 65?

651,140
171,298
118.950
102,219
192,921
206,781

A West.

*

A Detroit River Hj. In 1903 and
BABNINQB OF TBUHK LINES.

Includes Lake Erie

1C4,24'
188,681-

3,690

80,051.098142,103,799
34,264,62-'l 58,675.519
6,672,92:1
6,893,678

1902.

IOCS.

1902.

1901.

1900.

1809.

1

October.

«

t

t

«

2,40',068

81,889,187;1«1,689,758 145,637,481211,309,463
956,136
5.805.561
e,0S7.768
8,09',4C2

noar ..bbls.

643,1-9-

509,639

1

1899.

1,

6.650,556 19.878,614 30,726,1971 42,819,706
6.356,393 79.329.537 39,776.0151 77.773,920
7.142.127 74,629,259 62.557.703:' 77.ft32,3cO

064,087
2,085,175

701,518
452,40H

Bnff.Rocta.A Plttt

I

4,873,609'

174,802

Chlo.Ind.ALonlsT

Total
Since Janxtary

October.

157,485

t

1900.

1808.

1908.

1
166,21b
726,208

Wheel.

1901.

190S.

^nn Arbor..

Tol. 81. L.

BBOKIPTa AT OHIOAOO DCBIHO UCTOBBB AND BIIfCB JANCABT

six-

year comparisons of earnings for the leading roads,

the deliveries were only 477,155 head in 1903 against

541,810 In 1903, 653,773 head in 1901 and 781,212 in
1900.
Combining the five leading markets Kansas
City, Chicago, Omaha, St. L9uis and St. Joseph
the

we add the following

analysis,

Bal.A 0...

B.AO.S.W
P.A West
a.T.of Can.

ar.T.West

1888.

»
(

2,604,175
674,931

C

3.745,509

(

862,309

321,59b

299,862

f 2.852,216

6,022,316

i

4,246,393

2,094,09-

8,065,386

1.560,297

385,914
101,710

848,98^
07,3 12

842,12^

309,876

92,466

90,368

6,821,676

5,538.672

>
> 3,222.760

8,956.36S <

«

cotton receipts at the Southern outports were

1,476,361 bales, against 1,340,755 bales in 1902 and
1,618,121 bales in 1901.
It Is to be noted, however,

6,915.819

6,911,810

5,005,877

4,374,104

2.206,205

1,970,099

1.806.700

1,643,002

1,674,107

1,318.135

18.618.1-24

17,269,491

18,785,435

14,703,2«t

13,147,244

11.426,528

Total.

..

BBOBIPTS OF COTTON AT SOUTBEBR POBT8 IM OCTOBEB, ASD FBOM
JAjrUABT 1 TO OCTOBKE 31, IN 1903, 1902 AHD 1901.

(

t Boston A Albany incladed In 1803. 1902, 1901 and 1900; the Beecb Creek
RR. und Che WallkUi Vallev RB. for all the years, and the Fall Brook system

aner

1899.

New

Orleans the receipts were but 300,611
bales, against 350,903 bales in 1902 and 413,537 Dales
In 1901.
This indicates the irregularity referred to
above, and the fact is further emphasized when we
observe that the shipments overland were no more
than 64,567 bales, against 162,141 bales In 1902 and
183,900 bales in 1901.
that at

6,7e 9,355

n'abash....

The

0.a.H.AM >
N.T.C.AH+ 7.166,763

BABNIN08 OF SOtTTHWEBTBBN OBOUF.
Octo'yer.

Col.

A

I
695,C83

South.!

den.AR.Qr.
B.Gr. W..$

1902.

1903.

\

1.623,80<

6'28,022

1,8B4.85'

1,891,465

1.690,776

1,448.204

Mo.P.AIr.Mt

4.082OOI

8,693,8;i3

8.185.701

2.947,349

3t.L. Bouthw
Texas A Pac.:

733,48t

3.767,09
779,74U

774743

771,704

601597

1.167,28^

1,168,904

1,167,442

1,118,808

842,664

10,508,036 10.250,694

9,457,206

10.81C,0S'

1903.

X902.

t

t
4,127.40i!

OHIO. Gt. West...

P«uaaooJk&o

OnlathS.S.AAtl.

•Tannab

3reat North. Sys.
Iowa Central
Mlan.ASt. Lonts
M. St. P. A 8. 8. M.
North- Paclflc.b >

776.302
847,730
6,006 971:
281,451
305 9i:
792,866

Total

808,378
S39,992
633.009

8,148,530

Total

6«5,066

634.611

Mobil*.

Hewport News, &o

438.153

1.974,415

4.475, OOCi

Waahln«ton, &«
Morfolk

9;$0.036

lnt.AOt. No..i
Ko. K. A Tex

Canadian Paciac.

Wllmliurton

1.122.a8i!

1,537.944

508,849
691,478

Octobtr.

PortBoral, &o

1898.

»
416.310

497,845

1,662,700

1899.

«
467.518

>

QalTeston
bales
Sab:ne Pass &c.
llawOrleans.„

Bmniwlok.&o

1900.

485.278

1.588,583
2,7SB,347

666,450
912,606

BABNINOS OF NOBTHWB8TBBN AND NOBTH PAOIFIO OBOUP.

Ports.

Olutfleeton

1901.

<
566,778

.y...

St.PaulADnl. I
Wlsoonsln Cent'l
Total.

730,163
269,208
4,877,20-

227,736
841,696
774,099

1800.

1901.

1899.

<

8S1.18C
4,163

40>-

255 521

2.17,8f3l

613

6,328,185

80'

620,78-

155,055
8.200,670

836.411

692,109

424,664

4,648.635 3,534 654(

666.975

543 380

8.023,326 8,416.556
i2;.4Z4
216,985

U

J 40,8

t
8,688.780

244,17."-

808.464

662.0 £
8.498

6,215,8fc7

1808.

I
t
8,688,40.S 2.774,826 3.034.60:
698.540
649,69
789,8^0
t

489.P88

76>-

229,( 64
669,441-

205,455
234,535
610,768
3.207,028
192,801
476,846

17,655,823 17,236,763 lB,204.31ii ll.73d,Sli 12,760,876 ll,414,8>4

felnolades proprietary lines Id

all

the years.

THE CHRONICLE.

1846
BNINOS
1008.

October.

Ovnt. of OeorRla.

Oln-N.O.ATex.P.
LonliT.ik SashT.
Mobile Jk Ohio..

e8».009

870.090

608.97.'
t6«7.68«
68.41 B.660 fta.lia.672 58,775,803

t70a.8f(>

««e,dT6

•8«e.,SM

•813.008

Worfolk * West..
Boathera B7... t

l.«0e.7M

1.001,007

BULoaUDlT. 5
Tuoo * MlM.Tal.

4,168.107

3,870.380

fl05.7»l

763,064

Total

1806.

t
800.446

t
164,480

43M11

610.706
469.20^

649.891
4C 8.332

b3,558.Sl"4

8,510.806

9.108,886
398,607

t
830.683
706.703
473.580

6uh

llaali.Chat.,t

1890.

1001.

t
930,431

1
ffST 1.336

GROSS EARNINGS PROM JANUARY

OF BOUTHBRH QBODP.

1008.

1000.

$
ioe.s7»
73«.7S4

t3a7,041
640,708
•7a ,701 »64(},47C
1.456,767 1.204,048 1.071,157
1,638,009
9.9«».l»« 8,613,866
8.584,111 8,402.849
176,763
149.187
1
506,849
840,064
668.85^
664,484

t57a.024
•706,297

is.eoo.iM 18.666.56^ 11.446,143

t56«.7(14

10.714.707

Vol. kkxym.

0,tf08,487

8.368.031

Inolndes Padaoati St Memphis Division In these years.
* Inolades Mont«omerT UtvUlon for 1903. 19021. 1901, 1900 and 1899.
k FrelKbt on material carried for company's own use Is no loniter credited to
•

Name

of Road.

1908.

ATex.Pao.-

41a. N. 0.

•••*•••

2,012,600
977,085
1,094,131
1,764.733
618,496

1,745,046
837,412
960,564
1,544,296
583,574

267.554
13S.678
133,567
230,437
64,023

•••••«••

85,678,868
62.454

80,080,331
48,241

5,598,537
14,213
1,075,133
5,742,777

6,62.^,942

5,554,8'>9

33.185,191
6,753.964
92,077
6,129,927
8,9«0,918

Ohio. Term'l Transfer..
Oln. NewOrl.ATex.Pao.

GROSS EARNINGS AND MIL£AO£ IN OCTOBER.

1,436.810
5,382,633
5,234,902

Detroit Southern. a
Dal. 80. Shore A Atl
Evansv. A Indianapolis

(trots

Same

of Road.
1903.

1903.

Tncreate or
1903.
Decrease.

14,424,544

!

1,332,719
2,362.571
833,321
1,519,074
1,416,609

.

Kvansv. A Terre Haute
Qa. Southern A Florida

Mileage.

1902.

Grand Trunk
..
Gr. Trunk Western..

)
>

9

311.708

Oinadlan Paoltlo
37,927,968
Central of Georgia
7,688.928
Chattanooga Sontbern.
98,731
Ohio. Great Western...
6,803.294
Ohio. Ind. A Loalsv
4, 50s, 635
Colorado A Soathem...
Denv. A Rio Grande..
Rio Grande Western

$

Deereatt.

9
y2,028,430

Alabama A Vloksb'g.
VlckshurgSbr. APac.
Ann Arbor

MmlDXS, the item haylOK been eliminated from both earnines and expenses.
The dctures for IOCS, 1008, 1901 and 1900 are Riven on this basis.
g Flinirea for foarth week not yet reported; taken same as last year.

Eaminga.

Inereate.

31.

V2,340,188

N.O. ANortheasfn...

\tl. Knoxv. A North'n.
Baltimore A Ohio
)
Bait. A Oblo So'w'n S
Relief onte c'entral
Bair. Boob, A Plttsbnrg

TO OCTOBER

1902.

$

Alabama Gt. Soathern.

1

l,419,81."i

4,698,167
4,878,501

14,184,083
1,104,5H8
2,341.610
306,630
1,337,018
1,101,622

••«••*•

T^Tr »«
••••••*«

884,964
6,154
673,367
542,717
17,025
6F9.466
356,401
240,461
328,131
20,981
26,691

mmmm ••••

182,031
314,987

••••••«

29,643,616

25,501,048 4,142,573

32,684,282
1,826,161
1,499,718
5,315,4939,084,404

30,939,944

1,694,288

1,591,404
1,263,471
4.701,464
34,714,506
11K,204
4,194,766
2,112,672
832,989
3,894,044
27,066.S68
93.099
476.4 1
3,005.616
5.499, 45S
13,706,434
29,714,477
882,100
162,684
5,710.707
7,112,819
161,410

234,757
236,v47

Det. Gr. H. AMllw..;i

9

Alabama Gt.Bontb'D

1/171.329

Ala.N.O.&Tex. PacN.Orl.ikNo. East.
Ala. A Vloksb
VlokBb. 8br.&Pao.

$
yl89,425

e3,74s-

6.022,316

5,533.672

Bellelonte Central..

7,371

BnH. Rocb. & Plttsb.
Canadian Paolflo ...
Central of Georsrla.
Cbattan. Sontbern..
Ohio. Great Western
Cblo. Ind. & Loulsv.

726,20&
4.47,'>,C00

5,066
704,51r
4,127,402

9f 9.699

879,99!^

Arttot

-.. ...

Knoxv.&No
Ba tlTOore & Oblo.

238.490
121,882
134,670
166.219

Atlanta
Bait.

& 0.

Bo'wn.

Term. Tr. RR.
dn.N.O. &Tei.Pac.

Colorado & Sontbern
Denv.& Klo Grande
Bio Grande West
Detroit Sontbern «...
DnJ. 80. Sbore & Atl.
Evaney. A Indlanap.
Evanev. & T. Eante.
Ga. Sontb. & Florida
Gr.Trtmliof Can... )

Trnnk West..
Det.Gr.Hav.&M.
Gt.No.-8.PM.&M.
Gr.

Eastern of Minn.

>

&

)
'

Sblp Island..

Hocking
Illinois
Illinois

"Valley

Central

Sontbern
lnt*mat'l& Gt. No..

Iowa Central
Kanawha <b Mlcb ..
Lake Erie & Western.
Lonisv.

& Naebvllle.

Manlstlque
Mineral Range
Minn. <Si8t. Louis...
Mlnn.St P.& S.Ste.M

Mo.Kan.&Tex

6.660

9,371

776,3(>i;

116,108

730,165
452,409
158,027

1/377,640

j/312,92e

609,t)8e

595,08b

o68,77t

1,623.300
156,031
247,73(
33,907
154,48S
142,771

1,662,700
138,548

fl3.712
+16,021
+8,734
+2,536
+488,644

195
143
189
292
250

3,884

3,884
27

27
6O0

472

+21,696
+347,698
+79,700
-3,611

8,044
1,845

7,590
1,845

105

+4e,13<<

92t

105
929
547
108
336

+57,28C
566
-11,919
108
336
+64.711
+28,310 1,121
—39,400 2,398
+22,483
432

149,923
129,119

S.222.750

+ 2,8U

196
14S
189
292
250

1,121
2,378

—5,042
+4,569
+13,652

574
146
162
395

401
674
146
162
285

2,966,858

+266,392

4,085

4,082

4,828,922

4,702,712

+ 121,210

5.494

183.050
169,270
529,336
4,168,045

174.496
153,322
607,070
4,044,809

5,628
S6C
251

20.12c
684,511
221,461
140,177

I4,68i

482,3t>4

3,409.550
3,957
55,761

2.^9,206

— ll,47t

38,94i^

Central Branch
Mobile Jack.AK. C.
Mobile & Oblo
Naeb. Cbat. & St. L..
Neyada-Cal-Oregon.

N.Y.Cen.AHud.Rlv.*
Worfolk & Western..
Nortbem PaclbcH...

Pere Maiqnettet
Rio Grande Soutb'n.
St. Lotus Sontbwes'n
St. L. Van. & T. H..
San f ran.* No. Pao
Seaboard Air Line...
Sontbern Indiana
Sontbern Railway
T.Hante A Indlanap.

Hante A Peoria...
Texas Central
Texas & Paclflo
Xex. Sab.Val. & N.W.
T.

Tol. & Ohio Central.
Xol. Peoria A West'n
Tol. St. L. A West....
Toron. Ham.
Bnfl.

A

Wbeel. A Lake Erie.
Wisconsin Central..
Tazoo A MlBB. Val...
Total (72 roadB)...

665,966
227,736
96,823
424,822
3,156,572
8.728

Mexican Railway...
Mexican Soathem...
Hat'l RR. of MhiIco..

+22,266

+ 113,236
+6.537
—31,456
-6,285

+ 43,854
+57.64V
+252.978
-4,771
+6,783
-36,081

347
4,328
96
1,149
658
177

880

260
251
347
4,284

96
1.006

558
177
880

3.579
64
137
642
1.469
2,788
6,305

3.439
64

388
70
874

127
642

17** ,000

1140,621

TI21.53fc

+ 19,086

706,869

639,67
813,908
26,166
6.799,355

+67,194

388
96
912

+ 52,457

1.201

1,195

-2.188
+367,408
+275,087
—112,298

144
3.422
1,722
5.688
3 084

144
3 320

18(
-22,175
—48,261 1,308
158
+2,666
-5,880
166
—29,679 2.611
164
+40,853
+279,808 7,139
+30.152
80

1,974,415

866,36."^

23.978
7.166.763
l,9fi6,744

5,215.887
1,058,242
35,363

733,489
225, 28^
132,903
y786,715
118,590
4,152,19
200,(97
60,042
81,703
1.167,28^
16,5(0
325,971

1.691,667
6,328,185
973,694
57,63^
779,740

222 624
138,783
(/815,394

77,737

8872,389

y37,4«i"

179,945
53,569
74,332
1,163,904
18.600
264,446
117,313
253,985
y39,783

8,206,296

1,970,096

406,142
613,800
605,721

878,969
620,768
758,954

116072
284,813

+ 18,767

+ 79,588
+244,005
+70,900

+ 84,648

+ 6,473
+7,371
-1,616

-2.100
+61,525
-1,241
+80,828
+7,686
+236,199
+32.173
-6,96«
—163,233

174
227
1,764
68

1,412
2,565
8,182

1.710
5.382
2,084
1,298

158
165
2,607
154
7,128
80
174

237
1.707

451
88

58
436
248
451
88

2,486

2.484

469
977

468
977

1,171

1,162

436
248

72.406,972 68,789,460 +3,667,512 90,509 88,557

Gulf

A Ship

Island
Hooking Valley
Illinois Central...
Illinois Southern
Great Northern.
Int.

A

luwa Central

Kanawha A Michigan.

Lake Erie A Western...
Louisville

A Nashville.

Manlstlaue
Mineral Range
Minneapolis A St. Loulf
Minn. 8t. P.A 8. Ste. M.
Mo. Kan. A Texas
Mo.Paclflo A Iron Mt...
Central Branch
Mobile Jack. A K. City.
Mobile A Ohio
Nasbv. Chat. A St. L...
Nev.-Cal. -Oregon

N.Y.Cent.AHad.Rlv.*.
Norfolk A Western
Northern PaolUcH
Pere Marqnettet
Hlo Grande Southern .
9t. Louis Southwestern
St. LoulB Vand. A T. H
San Fran. A No. Pacific
Seaboard Air Line

Southern Indiana
9onrhern Railway
T. Haute A Indlanap. ..
Terre Haute A Peoria..
Texas Central
........
Texas A Pacilic
Toledo A Ohio Central.
Toledo Peoria & West'n

A

Western....
Toronto Ham. A Bufl. .
Tol. St. L.

Wabash

A Lake Erie..

132.70t^

4,533.363
1.984,158
1,343,091
4,373.726
30,638.248
59,004
482.641
2,4(^3,434
5,964,46(..

14,29S,373
84,662.98
1,218,000
292,724
6.428.667
8.332,180
165,987
66.865,004
18,843.228
39,48 6,028
9,545,336
416,730
6,939,740
2,067,387
1,138,084
Vl0,347,966
937,631
36,379,688
1.707,740
543,78^
492.498
9,362,106
3,200,780
1,076,134
2,646,378
1

V470,38.S

18,847,699
8,771,686
5,685,406
5,763,059

614,0:^4

4,369,899
14.606

338.597

128,614
510,102
479.682
8.471,590
>

>-

."9.^14,199

15.588.073
37.062,923
8.737,677
485,00
6.903,566

-

34,6*95

6,222

i^

542.182
465,007
592,939
4,948,484
835,9U0
130,040
717,860

-••••••

1,219,361

•••>>•«

14.577
7,650,806
3,258,156
2,423.105
807,659

••••••••
.•••-•••
........

.

-

-

.

36,175
l,87.'>,94v
191,445
116,590
1,019.494
j/9,745,4U
602.860
334,637
602,894
33,139,796 3,239,792
1,491,31.'^
216,425
84,966
468,830
435. 05
57,393
531,132
8,o30,974
767,051
2,433,721
117,918
958,216
384.038
2.262. 34(
109,371
2/361.012
16. .'352, 108 2,295,591
601,139
3,170,547
5,346.939
339.467
318,393
5,449,666

68,375
........

......•«

-•••....
....••.•
••••••••
.......a

total

B.)

^41 1,800

§385,040

+ 26.760

2.186,468
t4l5.70(

1,979,743

+206,720

1/85,820

1/54.747

+ 10,573

63.57.'

761,617

-,

^384,800

Wheeling

* isoonsln Central
Tazoo

A

Miss. Valley..

Total (71 roads).... <134,403,248
Inorease (11-59 p. c.)...

Mexican Roads— Not Included
Interoceanic (Mex.)....
Mexican Centralt

Mexican Railway
Mexican Southern
National RB. of Mex.

.

in

4,392,990
20.308,772
54.443.700
V826,13e
9,316,673

§

68,511.986 66,664,328
d5,891,262
totals.
§ 3.988,070

401,920

17.150,380
§4.094,100
2/783,420
7,436,470

3,658,392
349,600
42,716
1,880,203

773,06«

...•..-r

•-~—

* Boston A Albany inoladed in both years ; figures for Jane 1903 are
approximate.
tThe Monterey AMexioan Golf was not included in 1902 antil March 1,
and the Mexico Cuemavaoa A Pacific Rio Verde Branch, etc., not for
any part of that year; all these roads are Inoluded in 1903.
Railway.
J Includes Lake Erie A Detroit River
y Includes proprietary roads In both yeara.
i Figures are for period to Oct. 24.
y These figures are down to the end of the third week of Oct. only.
z Inolades earnings of Iron Railway Co. from July 1 in both years.

STATE CERTIFIED PUBLIC ACCOUNTANl
LEGISLATION.
(Communicated.)
of the Federation of Societies of

At the annnal convention
73

fl

655

+ 30,900

2,897
321

2.686
321

263

268

+11,968

1,503

1.355

•Boston and Albany Included In both years.
BeanltB on Monterey % Mexican Galf arelncladed la 1908 and 1902
and Mexico, Oaemaraca & Paoltlo, Rio Verde Branch, etc., in 1903.
Iao:a'les Lake Brie A Detroit River Railway.
4 Figures are for four weeks endln*r Ooc. 24.
t
t

1

''.

i8(j

792, 8Ke

Mexican Boads— Not Inolnd ed In
Interoceanic (Mex.)
Mexican Centralt...

+8,654
+16,94>'

48,978
341,906
774.099
1,894,857
3,659.996
107,100

305,91,'>

Mo. Pac.&IroD Mt... 3,904,001

Wabaeb

809

"i

Montana Central..
Gulf

+32.597

5

Ohio.

809

GreatNo. St.P.M. A M. >
East'n of Minnesota

Montana Central
195.893
108,170
119,64b
157,486
61.213

Ann

S
+31.904

Inolades proprietary roads In both years.

f Flgnrea are for live weeks ending Oct. 31.
yFlgnree here given are for three weeks only Of tbe month in both
7e*ra, the foarth week not yet reported.
f Inolades earalngs of Iron Railway Co. in bstb years.

Pablic Acconntants in the United States, held at Washington, D. C, on October 20th, a lengthy discuaeion, in which
the delegates from several State societies participated, was
held in regard to a proposal put forward by the Maryland
Association of Certified Pablic Accountants to amend the
Certified Pablic Accountant Law of that State.
It is within the knowledge of a majority of the readers of
The Chronicle that laws have been passed in several States
authorizing a State Board of accountancy, or In New
York and lUinoIfl the State University authoritiea, to ex-

KOV.
amine

THE CHRONICLE.

14, 1903. J

citizeos of the

United States desiring to practice as

Public Expert Accoantants in four of the principal branches
of technical knowledge, viz.: "Commercial Law," "Auditing," Practical Accounting" and "Theory of Acconnts."
Under these laws those persona who pass the qualifying
examination are given the right to style themselves "Certified Pxiblic Accountants" and to iiBQ the designating initial
letters C. P. A. after their signatures.
In this privilege the lawful holders of these C. P. A. certifi
catea are protected by punitive clauses in the several State
laws. In New Tork, Illinois, Pennsylvania, CAlifornia and
Washington it Is a misdemeanor for a person not legally
authorized so to do to represent himself to be a "Certified
Public Accountant,'' and the oSense is punishable with a
Maryland stands alone in providing a
fine of |100 to $500.
jail sentence for an infraction of the law.
The discussion referred to followed immediately upon the
reading of the annual report of the President of the Maryland Aesociation, Mr. Max Teiohmann, C. P. A., in which it
was stated to be the intention of the Marylanders to try and
seoure an amendment to their Certified Public Accountant
law, which was enacted in 1901, to the effect that Certified
Public {Accountants coming from other States in the Union
where a similar provision was enacted, would be granted
the legal right to practice as "Certified Public Accountants"
in Maryland, upon the payment of a stipulated fee to the
Secretary of the State. For a fee of $10 such visiting accountants would be granted Maryland certificates.
Under existing conditions a C. P. A. certificate issued by
any State, in respect to a specific State law, is considered
good in any other State. Certified Public Accountants coming to New York from Pennsylvania, Illinois and Maryland,
have been in the habit of designating the States whence they
hail on any stationery, professional cards, or the like, designed for use in this State (New York). There has been no
disposition on the part of New York Certified Public Accountants— whose law is the oldest (1896)— to put any hindrance in the way of accountants, certified under other State
laws, provided they comply with this little detail, which
has grown to be an unwritten law.
One of the principal and most valuable objects of the Federation of Societies of Public Accountants is to encourage
and secure full and free intercourse between States and to
discountenance any attempt to raise barriers between

1847

"Providing that nothing herein contained shall operate to
prevent a Certified Public Accountant who is lawfully holder
of a certificate iatued in compliance with the laws of another
State from practicing as such within this State, and styling
himself a Certified Public Accountant."
A resolution was also passed requesting the Executive
Board of the Federation to frame a model C. P. A. bill for
the guidance of societies In States that have not yet secured
legal recognition.

There are several States that will seek legislation recognizing the practice of accountancy as a profession at the
next session of their respective legislatures; among these
are: Ohio,

New

Jersey, Missouri, Louisiana, Kentucky, Min-

Michigan and Wisconsin.
have made previous unsuccessful efforts to pass C. P. A. bills— some of them very extraordinary documents but, nothing daunted, they will try
again. Of all the States where C. P. A. laws have been
passed, only Maryland and Washington secured the enactment on the first attempt.
From the above it will be seen that the Federation of
Societies of Public Accountants has an important part to
play in the very near future in putting into effect their avowed
object (one of several) "to encourage State C. P. A. legislaQ-. W., c. p. a.
tion on uniform lines."
nesota, Tennessee, Kansas,

No

less

than

six'of theee States

—

,

ITEMS ABOUT BANKS, BANKERS AND TRUST GO'S

—The

public sales of bank stoohs this week aggregate 150
which 50 shares were sold at the Stock Exchange
and 65 shares at auction. Only one sale of trust company
stock, 10 shares, was made at auction. No transactions in bank
or trust company stocks were reported from the curb market.
shares, of

8/Utret.

Sawk— Yew

Tork.

*30Olty Bank, National

Price.

10 America, Tr OBt Co. of
*
IT

tale.

1903—
Oct 1903Nov, 1903May 1903—

224

May 1903— 283

Bank of
Bank
40 Merchants' Exoh Nat. Bank.. 17038
Trust Compaut— Aew Tork.

'20 Oommeroe. Nat.
iri5 Federal

Latt previous

260
207
100

Oct.

260
213
100
173

Sold at the Stock Exchange.
SabBorlptlon to earplaB paid.

—Preparations are being made by the New York Produce
Exchange Bank of this city for the opening, about December 1, of a branch at Broadway and 86th Street, in the Bretton Hall apartment house. Other bracches of this bank are
States.
located at Madison Avenue and 59th St., Columbus Avenue
The discussion at the Washington Convention was precipiand 93d Street, 58th Street and Seventh Avenue, 116th
tated by Mr. John Alexander Cooper, C. P. A., one of the
Street and Third Avenue and 103d Street and First Avenue.
delegates from the Illinois Association of Public Account—Alexander H. Stevens was elected a director of the
ants, who secured the floor of the Convention immediately
Century Bank of this city by its board of directors last
after the reading of Mr. Teichmann's report, and said
:

seems to be the disposition in the Maryland Association
to place an embargo on accountants coming from other
It

States, or rather to put obstructions in the way of free intercourse. Now the Illinois law provides that if a man comes
into the State of Illinois with a certificate from his own
State, he has not to go through any red tape; he does not
have to pay any fee to practice in our State, and it seems to
me that our Federation should exert its inflaence in the interests of free intercourse among Certified Public Accountants.

Mr. Teiohmann contended that the object sought by his
amendment was "to open Maryland to everyone who is entitled to it;" he repudiated any
association in the proposed

desire to keep Certified Public Accountants of other States
oat of Maryland.
The discussion lasted quite some time but no one was
found to agree with Mr. Teiohmann, nor to endorse the
amendment he proposed.
The President of the Federation, Mr. Farquhar J. MacRae,
C. P. A., and several of the delegates took part in the discussion, including Mr. J. E. Sterrett, C. P. A., delegate from
the Pennsylvania Institute of Certified Public Accountants;
Mr. J. S. M. Goodloe, C, P. A., President of the Ohio State
Society of Public Accountants; Mr. B. L. Suffern, C P. A.,
delegate from the New York State Society of Certified Public
Accountants; Mr. J. Porter Joplin, C. P. A., of Illinois, and
Mr= H. W. Wilmot, A. C. A., C. P. A., ex- Vice-President of
the Illinois Association.
The upshot of the whole discussion was that existing C. P.
A. legislation should be allowed to stand as it is for the present, but that all new States seeking the enactment of C. P. A,
laws should embody the final section of the recently enacted
Illinois law, which reads:

Thursday, succeeding Mr. Philip T. Dodge. As is already
well known, Mr. Stevens is Vice- President of both the
Gallatin and the Astor national banks of New York City.

—Mr. Theodore Rogers, who resigned the Presidency of
the Bank of the Metropolis of this city early the present year, died a week ago at his residence in Jamaica,
L. I. Mr. Rogers, whose death was due to an attack of
paralysis, was 72 years old, having been born in 1831. Upon
his resignation as President of the bank he was made Chairman of the board of directors. His ill-health, however, pre
vented him from attending the meetings.
—Messrs. Dick & Robinson, of 30 Broad Street, this city,
announce that on Nov. 12 they opened a Philadelphia office
on the ground floor of the Real Estate Trust Building. The
firm makes a specialty of Pennsylvania investment securities.
—Messrs. H. O. Peebles & Co. announce the establishment
of an office in the Philadelphia Bank Building at 131 Chestnut Street, Philadelphia, where they will engage in the investment bond business. Government, railroad, public utility
and Pennsylvania municipal bonds will be dealt in.

—The

voluntary liquidation of the National Suffolk Bank

of Boston, consolidated with the Second National of

Boston

month ago, went into effect on October 30.
—Both President Graham and Secretary Jewett of the
International Trust Company of Boston, Mass., took occasion
a

this

week

to deny the

rumors that their institution was the

purchaser of a number of shares of the Hampden Trust Company of Springfield, reported to have been recently sold.
They state further that they "have no intention of buying
any other company or opening any branches."

THE CHRONICLE.

1848

—The Worcester Safe Deposit & Tmst Company of Worceshis absorbed still another Worcester bank— the
Citizens' National— and has secured control of the State Safe
Deposit Company. The absorption of the Citizens' makes the
fourth bank within the present year taken over by the
Worcester Safe Deposit & Trust, the others being the Central National, the City National and the First National.
The bank in question was incorporated as a State bank in
1886, becoming a National institution in 1865.
Its capital i^
$160,000. It is stated that no bonus has been paid for its
business, the company agreeing simply to take the business
and the lease of its premises. The absorption took effect on
Monday of this week,
ter, Mass.,

— A committee

of three,

consisting of Messrs. Qeorge B.

Skinter, George Whitelock and Dr. John D, Blake, was
appointed on the 5th inst. to consider the most advantageous
method of liquidating the aflfaira of the City Trust & Bank
Ing Company of Baltimore, Md., which suspended June 8
last.
Several plans hive been suggested. One to sell out
the assets to a New York syndicate, which would take
charge and assume all responsibility for the settlement with
the creditors and depositors and the closing up of the affairs
of the company. Another plan provides for the settlement
of the company's affairs by the stockholders without the
assistance of outside capital. An assessment, it is said, will
be necessary in any event to meet all the obligations.

—Mr. John

and Mr. John S. Scully
Diamond Savings Bank of Pittsburgh,
Pa., tendered their resignations on Monday of this week.
The resignations were accepted, and Mr. William Price was
S. Scully, President,

Jr., Cashier, of

eral

had been prominent In the affairs of that organization. H©
had not, however, been able to attend the recent conventicm
at San Francisco, his so a taking his place in the reading of
his report.

—

The Bankers' Club of Chicago at its annual meeting last
week elected the following officers for the ensuing year
President, E. D. Halbert, Vice President of the Merchants
Trust Company; Vice-President, E. A. Potter, President of the American Trust
Savings Bank; Secretary and
Treasurer, W. D. C. Street.
John C. Neely, Secretary of

Loan

months ago.

—Oa Monday of

this

week the stockholders

of the Public

Trust Company and the International Savings & Trust Company of Pittsburgh formally ratified the proposed consolidation of the two institutions, details of which were given in

our issue of October 81. The International will take over
the Public Trust, increasing its capital for the purpose from
Officers for the

1250,000 to 1550,000.

enlarged;,institution

were chosen at Monday's meeting, and are: President, Mr,
Mr. J. H. White; Vice-President, Francis J. Torrance, and
Secretary and Treasurer, T. A. Dye. The last named, it is
expected, will be succeeded by Mr. John J. Burke upon the
completion of the mtrger.

—With the election of Mr. Qeorge B.^CoxJ'as President of
the Cincinnati Trust Company of Cincinnati,'.Ohio, Charles
C. Richardson and M. E, Moch were chosen Vice-Presidents.
Mr. N. S. Keith has been re elected Secretary and Treasurer
and F. R. Williams Assistant Secretary and Treasurer.
Seven new directors were elected to Ithe board, four to
replace retiring members and three to^fiU vacancies. All of
the directors, with the exception of Mr. E. Gt. Tillotson of
Cleveland, reside in Cincinnati.

&

&

the Corn Exchange National Bank, and George M. Reynolds,
Vice-President of the Continental National Bank, were
added to the Executive Committee.

—

Mclntyre & Marshall have added a bond and investment
department to their Chicago brokerage business, and will

make a

specialty of

Government

securities.

—The Omaha
its latest

dollars.

National Bank of Omaha, Neb., according to
statement, now has deposits exceeding eight million
In fact, all through the year this institution has

its business.
The extent of the improvement
revealed in the table which follows.

been adding to
is

Omaha

Surplus and

Oro$$

Profits.

Deposits.

Kesourcet,

$172,493
180,289
172,470
145,014
176,778

$8,070,286
7,543,163
6.955,745
6,86^,194
6,768,104

$9,842,784
9,323,452
8,728,216
8,610,207
8,544,883

National Bank. Capital.
Sept.9ie03
$1,000,000
1 1903
June 9 1903
Apr. 9 1903

July

Feb.

the

chosen to the Presidency and Mr. L. E. Huseman to the
Cashiership. Mr. Price is also President of the Diamond
National Bank (with which the savings bank is affiliated),
having succeeded the elder Mr. Scully in tthat position sev-

fVOL. Lxxvn.

61903

Thus

1,000,000
1,000,000
1,COO,000
1,000,000

Aggregait

from $6,768,104 on February 8 to
on April 9, then to $6,955,745 on June 9, to $7,543,163 on July 1 and to $8,070,286 on September 9— the gain in
the seven months reaching nearly a million-and-a-half dollars.
The institution is managed by Mr. J. H. Millard, President;
William Wallace and C. F. McQrew, Vice-PresiJents; Charles
E. Waite, Cashier, and Frank Boyd, Assistant Cashier.
deposits advanced

$6,865,194

—The stockholders of the Minneapolis Trust Company of
Minneapolis, who were called together on the 8rd inst. for
the purpose of determining whether the company should go
into liquidation or continue alohg the lines theretofore followed, were almost unanimous in voting to continue. This
was the decision after the presentation of the report of the
committee appointed a month ago to look into the affairs of
the company and ascertain whether conditions warranted its
continuance. Finding that the company's good-will was far
too valuable an asset to be dissipated, the committee recommended that business be continued under the old name and
that a reduction in the capital stock be made, all of which
the stockholders ratified. The stock will be reduced from
$500,000 to $250,000, and upon the reduction $250,000 of
Northern Securities stock and $50,000 in money will be
divided pro rata among the stockholders. The board of
directors will be increased from nine to fifteen members.
—In order that Cashier Charles G. Goodrich of the Georgia
Railroad Bank of Augusta might be relieved from some of
the large volume of business of which he has had charge, the
directors have created the office of Assistant Cashier, and
have chosen Mr. Rufus H. Brown to fill the same. Having
been in the bank's employ for eighteenjyears past, Mr. Brown
is fully competent to discharge the duties of his new posi-

—

Mr. H, D. Messick, who had been AssistantlSecretary and
Treasurer of the Central Trust Company of Cleveland, was
on Tuesday elected to the office of Secretary and Treasurer,
which became vacant in August through the death of Mr.
Ernest W. Radder.

tion.

—The death of

Mr. Henry Klein, President of the Union
Trust Company of Helena, Mont., is announced,
Mr. Klein was sixty- one years old.

—

Bank

Mr. George J. Johnson has been elected President of the
City Trust Company of Cleveland, Ohio, to succeed Mr. Herbert Wright, who resigned recently to re-enter the brokerage field. Mr. Johnson was formerly First Vice-President.

&

—

A Washington, D. C, office has been opened by the JEitaa
Banking & Trust Company of Butte, Mont., at 1222 F Street
The Security Trust Company and the State Savings northwest. Mr. A. B. Clements, Cashier of the bank, has
of the branch,
Bank, both of Toledo, are to consolidate, the stockholders been placed in charge
Mr. Lester Turner was on the 4th inst. elected President
having voted to this effect on the 5th Inst. The name of the
consolidated bank is to be the Security Savings Bank & of the First National Bank of Seattle, Waah,, to succeed Mr,
Trust Company, and the capital |250,000— the total of the James D.Hodge Jr., who, as noted in these columns last

—

—

respective institutions, the Security Trust now being capitalized at $200,000 and the State Savings Bank at $50,000.

week, retires to further the organization of the proposed
Union Savings & Trust Company. The new President advances from the office of Cashier, which he had held since
1890, and in which he is replaced by Mr. Charles P. Master-

A

proposed consolidation of the Security Trust anl the Home
Savings Bank had been under way for several months, but
was finally abandoned aboul; a month ago.

son,

—Mr. Frank W.

Tracy, President of the First National
Bank of Springfield 111., died on the 8th inst. at the age of
sixty-nine years. As Chairman of the Committee of Uniform Laws of the American Bankers' Association, Mr. Tracy

—Mr. M.

,

I

D. Barnes has been appointed receiver of the
Branch of the International Bank & Trust Company
Seattle
of America, which suspended October 19. Mr. H. E, Coffey
the receiver of the San Franoiseo branch of the company.

:

Nov.

14, 1903.J

THE CHRONICLE.

ptonctax*i3lCommcvclaTSuoiU6Ti2Jciud
From oar own oorreapondent.!
London, Satnrday, October 31, 1908.
Baeiness contlnnes stagnant, bat there is undoubtedly a
I

better feeling than has existed for some time. Ttie
fortnightly settlement upon the Stock Exchange, which
began on Monday morning and ended on Thursday evening,
once more showed that the "bull" account in all departments has been reduced to an exceptionally great extent.
Indeed, In many departments there is practically no "bull"

much

account left, while it is clear that there is a large "beat"
account in many departments, especially in consols. The
impression, therefore, is almost universal that the liquidation here has now been completed, and that if nothing
untoward happens, markets will be fairly steady for the
remainder of the year.
The reports from the Far East are much more favorable
than lately. The impression upon the Continent is almost
unanimous that no war is to be apprehended; and those who
are in closest communication with the Russian authorities
are the strongest in affirming this. In Paris, for example,
the notion of war is quite pooh-poohed. Here in London
there is not quite so much confidence. Yet in London, also,
there is more hope of a peaceful solution than there was. The
fall in the New York exchange upon London and the large

withdrawn from New York for the inhand have awakened some apprehension
terior on the other
that there may be gold shipments from London. The Bank
of England is not strong enough to afford to lose very much
gold. If, therefore, gold is withdrawn for New York, it is
everywhere assumed that the Bank of Eogland will raise its
rate to 5 per cent. The Bank has all this week been borrowing
in the open market, and it has now obtained control of the
market. Therefore, if gold were to be withdrawn for New
York it would be in a position to put up its rate to 5 per
cent, and after a while to make the rate effective. Indeed,
it is probable that the whole market would co operate with
the Bank if gold shipments set in, for nobody knows how
large they might become, and everybody, therefore, would
be afraid that unless measures were taken to protect the
Bank's reserves, the market might be seriously ditturbed, the
more particularly as it is now doubted whether the Bank of
France would be willing to part with much gold.
The Bank of France holds so immense a supply that it
could well afford to part with the amount that would be
required by New York, supposing that New York does need
any.
Yet the best-informed in Paris are very doubtful
whether the Bank will venture to let gold go, for the Italian
exchange is actually lower now than the French exchange,
and consequently gold continues to be shipped from MarIt will be recollected that a good deal of
seilles to Genoa.
gold has gone already from the Bank of France to Italy,
Egypt and Berlin. As the Italian drain continues, it is feared
that the Bank of France will not be willing to part with gold
for America, and it is almost certain that the Imperial Bank
of Germany will do everything iu its power to prevent withTherefore if a demand for New York
drawals from it.
arises, it will fall mainly upon the Biuk of England; and
the Bank of England therefore would be obliged to raise

sums

1849

would

raise its rate to 3»^ per cent. At the same time it is
to be noted that gold is going In oonelderable amounts from.
India and Australia. Oa the other hand it is to be recollected that pavment has yet to be made for the shares r f the

Netherlands Railway Co. held abroad.
The Qovflrnment
has called those shares for the first of December.
Whether
it will pay before that is uncertain,
The total an^ junt held
abroad is about a million sterling, and it is now understood
that measures have been taken wbich will make it quite
unnecessary to send gold abroad to make the piytnent.
The India Council continues to sell its drafts well. It
offered for tender on Wednesday 40 laos, and the applications exceeded 272 lacs at Is, 4d. per rupee.
Applicants for
bills at Is. 4d. per rupee were allotted about 15 per cent of
the amounts applied for. Later in the day the Council sold
by special contract about 3^ lacs in bills at Is. 4 l-33d
per rupee.
The following return shows the position of the Bank of
82ngland,the Bank rate of discount, theprioe of consols, Ac*
oompared with the last three years

rate to 5 per cent. Owing to the shipments of gold
to Italy and to the steady withdrawals from the savings
banks, there is a fear in Paris that the Bank of France will
For the moment, therefore,
raise its rate to 33^ per cent.
business is very quiec in Paris, and the banks generally are

not lending freely. The French banks have not increased or
decreased the balances they are employing in London this
week. Neither have the German banks. In Germany business is improving. There is much more investment and
speculation in the shares of iron, steel and electric companies than for a long time past, and generally a hopeful
feeling prevails.
The Bank of England, as stated above, has now got control of the open market, and consequently on Thursday,
which was pay-day on the Stock Exchange, the outside
market had to borrow from the Bank. The borrowings,
however, were not very large. The expectation everywhere
is that the Bank of England will maintain control now
until tbe end of the year; but whether the 4-per cent rate
will prove suflBcient depends entirely upon whether gold is
taken for new York. It peace is maintained, as is the general expectation at present, and if gold is not withdrawn for
New York, the 4-per-cent rate, it is almost everywhere beBut if there is a political scare, or if
lieved, will suffice.
much gold is withdrawn for New York, it is generally
anticipated that the Bank of England will put up its rate to
5 per cent. Probably the Imperial Bank of Germany would
follow the example, and it is possible that the Bank of
Franoe might raise its rate to 4 per cent; almost certainly it

1901.

isoo.
Oct. 81.

JlrnlAtlOn.

Oct. 29.

Oct. 30.

M

t

M

M

89,178.830
10.B83,7«H
»8.8«6,75M

89,647.30B
10,»31,404

S8,f>9M,566
7.74R,ii10

PablledapOlltl
ather depOfltl

3P,3vS2,fl.S9

JorarnmeiiMMarltiei
Other ••oarltlei.^

17,»hh,06B
24,112.677

KM«rT«otnoieiandOOln

:<8,4H6,806

JoinAbDiaon.bothd«partm'ti. 88 418,770
Prop. reierT*: ollabllltlei. P.O.
3ank rat«
peroent..

*9H
4

41.8i7.k(73

39,883.030
7,866,419
40,600,4*1

Ifl,4i8,i32

18,0107h6

18691.084

87.';)-a,783
28,Or40,t^94

8H.lSrt.39K

85.«59,4fl8

>8,8t<2218
8&,«64.63j

•0.3)7,356
88,484.880

84,0«0.hI4
46 9.10
4

7lMrlnK-Hoas« raturni

lOl.lwx.OOO

4

4

83^a.

108,70:i,000

JIllTer

42^

45^

»^^

886-16
88d

?onioIi,8M POroant

08^

02 3-16

2t^l.

8gi3-ied.
198,160,000

ie3.&7a.000

The rates for money have been as follows:
rnt«re(t aiio«««4
for devo*it* bn

09*n Itarktt Bat*$

that are beini;

its

1902.

lUOn.
Oct. 38.

Undoti.

Bank BUli.
8 Month*.

"

"
"

Month*.

6

Mess rs

Pixley

&

Joint Dit'tB't.
Stock

4 Jtfoi,

Banks OaU £)•«(

tM

8k
2H
2H
3H
3W

4®4>4
3

U-l(i@9H BH@i

3%

35^@3 11-18
:^H&3 ll-ie

3?i

Bill*.

*H

4

8M®8M
8 9-ie@8H 3^® 8 11- le

9
16
83
30

Month* SMo*.

4

ST«34

8

Oot.

4

Irait

4

8>6

4@4M
4W

2\i

8X

Abell write as follows under date of

Oct. 29

Gold— There ha.s been a moderate incttilry for the Continent, but the
Bank has again been able to seoure a portion of the arrWals, receiving
£643,000, and losing to Egypt £110,000. Of this £843.000 received,
£500,000 was part of the £ 1.009,000 In sovereigaa whtoh arrived
from Hombay, the other £500,000 being appropriated by the
India Oounoll. Arrivals: South Afrloa, £3^i,0>0; India, £l,00a,000;
West Coast of Africa, £22,«0(1; Aastralla, £','S00; total, £1,348,500.
Bhlpments: Bombay, £35,000; Oolombo, £4,500; Calcutta, £5,000;
total, £44.500,
Silver— The market has moved irregularly duriog the past week.
Prices both here and la India g»ve way on reports that the U. S, Government Intended to suspend the purchases of silver for the new
Philippine currency, but the annoanoement thac the Paris mint was
asking for tenders for 35,000 kilos for delivery In December, and the
news that the American Government had made purchases In San
Francisco on Monday, led to a reaction, and quotations have Improved
to their present level. Ac the close the market Is quiet and rather
dull. The Indian price is rupees 70% per 100 tolahs. Arrivals
Australia, £37,000; Chill, £'>.000; U. 3. A, £165.500; total, £207,500.
Shipments: Bombay, £'^6,000 Calcutta. £15,000; total, £101.000.
Mexican Dollars— Sales on a more moderate scale have again been
made by Mexico and the Straits, at prices based on the melting value.
£133.189 has been received In Mexican dollars from the U. S. A. and
£26,000 has been exported to Bombay.
:

;

Uhe quotations for bullion are reported as follows:

OOLD.
u^iixdon

Oct.

BtandarA.

Oct.

Silver.

Oct.

39.

22.

London Standard.

29.

8.
d.
(.
d.
d.
iargol<l,anfl....oz. 7710i« 77 10ie B&r silver ,fln6. .. OS 28
U.S. gold ooln...oz. 76 5i8 76 51*
Do 2 mo. delivery 27>«
iterm'ngoldooln.OE. 76 b^- 76 51** Bar silver, oontaln'g
rrenoh gold ooln.os 76 5I3* 76 61s* do 5 grs.gold.oz. 2812 28'8
'apaneae yen....oa 76 5« 76 6*
do 4 grs.gold.oz. 28B,e 28ili8
do 8 grs.gold.oz. 28i« 28>«
30118
oz. 30 H
Oake sliver
'Nominal.
Mexican dollars. .oz. 26»«* 26%

The following shows the Imports of oereal produce Info
the tjnited Kingdom during the eight weeks of the new
season compared with previous seasons:
1MPOBT8.
1900.
1901.
1903.
1908.
[mp'tSOf wheat OWt 15,461,109 14,807,590 10,086,100 12,910,600
iJariey
4,256,800
5,145,400
7,901,061
6,931,238
3»ti
8,265,100
4,678,000
3.190,021
1,971.887
Peas
300,700
334,010
512.879
2«5,0y6
475.800
367,040
Seans
462,399
^ 496,558
7,03S,500
7,710.900
tndianoorn
6,189,32d
9,434,608
2,958,000
8,467,300
rionr
3,166,312
~...M». 3,603,898

Supplies available for oonsumptlon (ezoluslve of stook
3D September 1):
1903.
n'heatimported.owt. 15,461, 109
imports of flour
3,608,898
tales of

home-grown. 3,810,173

1902.
14,807,^90
3,166,312
3,941,617

1901.
10,066.100
2,956,000
6,257,239

Total
^ 22,375,180 21,915,519 18.299.339
25B. lid.
24a, lid.
lver.prloewtaeat,week.258. lOd.
25b. lid.
26s. 7d.
Average prloe, season. a7s. 8d.

1900.
12,910.600
3,467,300
4,871,587
20,749,487
288.
288.

4'1

7d.

The following shows the quantities of wheat, flour and
naize afloat to the United Kingdom:
1902.
1901.
LaitweeM,
TKitvoeth.
J, 920,000
1,816,000
1,665,000
Wheat
qra... 1,516,000
275,000

noar, equal to

qrs...

Valie

qrfl... 1,090,000

846,000
986,000

800,000
730,000

260,000
520,000

THE CHRONICLE.

1850

Sncllsk Flaaaclal M«rlc«tB<-P«r Omkl*.

f he dally

closing qnotatloni for seoorltles, etc. at London
are reported by oable as follows for the week ending Nov. 18:
,

LOHSOll.

Mon,

tlTei, per OTUioe.....d ~a76i,
OOBAOls.ineir.S^ p.ets 88I16

ror MMoanT

88)«

Vr'eli rentesds Paris) tr

Anaoond* Mining
AMb. Top. <b Banuk
Prelerred
Baltimore St
Preferred

OanMU&n

98 25
6916

Wt.

SS''8

OUo .....

78H
90 H

12156
31
aheaapeake A Ohio...
16>«
Ohlfla. Great Western.
142B8
OUo. Mil. A Bt. Paal..
19i«
Den. A Rio Qr.,oom...
Do
do Preferred 69>«
ne, common ...... .^ 1714
68 1«
Ist preferred ........
Sd preferred
134Sg
Illinois Central
LoolBTtlle (k NaabYllle 103 >s
9
Mexican Central
I714
Ho. Kan. A Tex., com.
36
Preferred
Paolfio

Rational RR. of Mex.—
Ist preferred
Y. Cent'l A Hndeon.
a. Y. Ontario A West'T
Vorfolk A Western
pref
do
Do

.

27
88"!,

17 «4

36

36

39

39

121^

21

20<>8

58%

58
89
90>«
61 ''s

2D)s

S7\
90%
8-\

69
90is

92

121%

28%
14%
140%
19

67%
27%
6-7%

48%
132%
102%
9

17%
35%

38

118%
20

The receipts of flour and grain at the seaboard ports for
week ended Nov. 7, 1908, follow:

38
119
20

the

56

89 is

9U

90%

891s

88

89

Boston
Montreal...

58%

60%
31

31

30

42%

42''8

Id's

76

18
76

42%
17%
74

73it

73%

72%

87

89

19>s

lOis
511s
191s

881s
1078
5314
191s

34
56 %

83 >s

84

S6is

56%

42%
17%
74%
72%
88%
11%
53%
19%
32%
55%

74«S8

87 \

87

11%

22%
40

31i«

81
4338
18i«

IIJ*

S5
19i«
88)4

6«\

11%
53%
19%
83%
66%

per sbare.

^ottxmtvcmX and ^XiscM^ntou5^txos
National Banks. —The following Information regarding
national banks is from the Treasury Department.
HATIOMAL BANKS OBOAinZBD.
Certificates Issued November S to November 6, 1903.
7,030 -Tbe Plkevllle National Bank. Plkevllle, Kentaeky. Oaoltali
$2.^,000. J. E. Yost. President; Fon Rogers, uasnler.
7,031— Tbe First National Bank of Oompton, Illinois. Capital, $25,000.
Cba« Bradabaw, President; J. F. Betz, Lafayette Oarnaban
and fiagb Laikln

Vloe-Presldents ; H. L. Fordbam,

Br.,

Caebler.

7,032— Tbe American National Bank of

Bartlesvllle, Indian Territory.
H. N. Cook, President; Fred P. Bpraal,

Capital. $25,000.
Casbler.

7,033— Tbe Hancock National Bank, Hancock, Minnesota. Capital,
826,000. Newton Bmltb. President; F. E. Frlsbee, VicePresident: W. Q. Browne Jr., Caebler.

UswTork.

Company.

tlsbmond

(QTiar.)

& Bound Brook, guar. (qnar.).
Korlolk A Wesleri), oom
North Fennsylvanla (qoar.)
PhUa. 6enu. & Xorrlstown (qaar.)...
Pitta. Bessemer & Lake Erie (preL)...
I>elaw

(Days

PaycibU

Wblte Pa»g

<&

Yukon

Street KaJIwara.
American Railways (qnar.)
Colombus (O) Bailway, com. (qnar.)

1%I>«0

Nov

2

1% Deo
"

Not

Dec
8 Deo
Jan
2%

'•iTaitOD....

Holders of

reo.

Not 20

Holders
Holders
Holders
Holders

reo
reo

Deo

of
of
of
of

2
13

Not
Not 20
Not 14

rec.
reo.

Deo

Deo

Holders of reo.

Dec
Dec
Not
Jan

Not 14

Jan

Holders of

1

Deo 8
Not 14

to

HUae«Uan««aa.
do

(extra)
Cereal (qaar.)

do

.........

AJnencan
American Express
do

.....

uo

(extra)
Smith Car, pref. (qnar.)
Barney
Diamond Match (quar.)
Vay (J A.) <& Egan, com. (quar.)
pret. (quar.)
do
do

&

. |Dec
a>« Dec

1>«'Nov

l%lNoT
8

Ametion Sales

Not

1

International Harresier
National Biscmt, com. (qaar )
do
pref. (qnar.)
do
North American Co. (quar )
Pittsburgh Brewing, com. (quar.)
prirf. (qnar.)
do
do
Quaker Oats, pref. (quar )

Jan

l»4lNoT
1 iDec

1%N0T
1*4 Not
ISNoT
1

Not 14

Not

Slocks,

Co., pref

5

1,000 Internat. Fire Engine

com
300 Kentucky Iron Co.

...

2
5

Co., pref.

80

Co..

20 Aaer. Chicle

15 Federal Bk. (subsorlptioo to snrplD* paid). 100
40 Merob. Kxob. Nat. Bk.170%
Bonds.
96,000 Brooklyn Ferry Ss,
66
1948, F.<kA.

Not 80
Not 80

to
to
to

Not 30
Not 30
Not 30
Deo 1
Deo 18
Not 20
Not 20

21
Holders of reo.

Novao

reo.

Not 29
Not 10
Not 10

to
to
to
to

Deo
Not
Not
Not
Not
Not

to
to
to
to
to
to

29
16
21
12
la

21

— By Messre. Adrian H. Mnller & Son

10 Trust Co. of America. .224
.^ BayonneTroat Co
205
20 Lawyers' Mtg. Ins. Co. 162
20HaTanaTobao.Co.,com. 20%
1,000 iDtemat. Fire Engine

Jan 16

Not 80
Dec 1
Not 20
Not 20
Not 80

181.860
8^,426

l&.'iSS

490

156,371
isslsBO
40,206
80,000

8.078.667
840,806

7,800

700
710
4,010
i4.'eoo

.....V.V

4,662

10,000
19.000

"l7,506

week

Total

1008.

068.370
b68.016

* Receipts do not tnolade Krain passing throagh
ports on throuiih bills of lading.

New

164.166
244.710

43,405
178.748

Orleans for foreign

i'ocai receipts ai ports from Jan. 1 to Nov, 7 compare aa
follows for four years:
AM««»( «/—
1008.
1001.
1008.
1000.
nonr
18,470.877
10.844,881
bbls. 18.171.778
18.063.488

bnsh.

ifbaat
lorn...
)atB...

Barley

Total sraln

87.270,547
00,£e4.871
44.818.134
8.400,116
8.783,087

117,580.807
16.888,440
8,884,408
4,380 004

140,HB1.107
101.118,188
64, 1*7,560
A.B86,H63
8.611.008

820.400.646

••«>s«««*s

188,586.086

314,500.613

44018.146

88,388,468

lM.t03.66e
60.471.188
0,084.105
8.402,889

814.088,674

The exports from the several seaboard ports for the week
•nding Nov. 7, 1908 are shown in the annexed statement:
I,

Osm.

Sew York

2e7.tj9a

163,057
877,180
16,848
146.713
1&6,464
26.571

sewn'ri Naws
477,118
Montreal
)alT«itnn..

482.(00
104.000

..

kbit.
febii.
124,266
10.670
8.409
84,689
114,140
83.084
25,761

674,878

160,834
Boston
149.477
Portland, Me.
8O.000
(blladelpbla..
16.000
laltlmore
82,000
few Orleans.. 828.000

Port Arthur..

#isur,

hush.

Mairorts tnw^- tuik.

1,

Oat*.
bu«k.

P<a(,
kwtk.

Ilt«<

hush.

BafUv

17.087

<«. A.
41.409

1,663

84

10,746
6.248

40,017
10,868
19,000

41,548
74.091

'8,671

40
0,730

16,1978

16,049
898,761
300.803

88,651
173.338

8.671
86,610

1008, is as below:
WttM

ist 68. 1912.

30%

$5,000 Nat. Abrasive Mfg.Oo.
of N. Y. 1st M. 6s, 1901;
J. A J. 1908 coupons on,
$300 per bond
$16,800 Richmond Light A

RR. Co. 1st

trnst pur4s, 1952......

ooll.

money

806,761
3U0,804

5,773,568
6,181.736

lr.M.Al&. Colo's
>tker eoaatrles

8.661

Totsl

40

bbls.

8387.188

lb.i40

38.046
84.613

With

Nov.l.
buth.

1, 1003.

804.748
887.178
468,365
67,128
2l8.b66

* 0. Amerloa.
^•St Indies

I.

1,8H5,101
618.616

Bintt July
1,

1908.

buih.
81,8 3,800
10,:<3a.860

7.814
15,812
1,768.820
2.863,136

806.400

^Vttk

Corn,
-.
Bintt July

xVoD.7.

1, 1008.
bush.
0,771.850
831.900 11,006,904
4.711
101,6«8
10116
418.743
1,816
70.489
100,441
861,008

bush.

768,3.S8

81,650.370 1,726.367
235,254
69,643,000

5,778,66s
1,728,185

The visible supply of grain, compriising the stocks in
canary at the principal points of accamulatlon at lake and
•aaboard ports, Nov. 7, 1908, was as follows:
^a«a»i

inftsriat—

"ft,

iutk,
400,000
184.0*66

470.000
411,000

07,uoO
187.000

.......

0^8 ooo

38. 00c

1,408.000

91.000

"f'i.OOO

».

04,000
soe.ooo
7 l6,000

Barist
busk.

8.000

kutk.
543.000

180.000

(cwTork

Do

Osrn.

»n*k,
461.000

afloat... ...

toston
Pkliadelphia
laltlmore.
Hew Orleans..

JaiTSston
Montreal
roronto

1,000

101,UU0

1.009

i^Ob.f-''

50 000

157,000

1,000

'86,C08

8.000
i,T66.uyO

1,847,«00

3,000
1,503,000

407.066

?30,006

afloat

„.«Aiv.
359.000

441,000

1,884,000

81,000

"9J069

afloat

V..:

006

810,000

30,000

"17.066

1,399,006

1,076,000

iseVooo

mVeso

,

•nflalo

Do
Do

Foledo

181.00S

••troit

Do

F.& A

i-—Whtat.

Bines July

Nov. 7.
July 1 to—
bbu.
Jnlted KmvdoB 964,910
Si,4»3
Jontlnent

afloat

80*,

••••

lueaso

:

Bonds.
$515,000 Nat. Abrasive Mfg.
Co. of N. Y., IstCs; oonpons
since Jaly 1, 1902 attached
$600 per bond
$10,000 Cent. Foundry CJo.
deben. 6s, 1919, M.&N.... 46
$2,000 Nat. Oonsol. OU Co.

chase

686.864 8,405,660
628,665 8,084,686

stmelMo

133,210

4ifi.500

71,4(J0

9,490

Fotal 1001-03....

1^4

Adams Express

816,200
80.000
104.000

Ms

MeBjfortt for
fSiSh and tints

Inolitsive.)

1% Dee
..

5t',80«

491.120

-Flour,-

.BoolM Closed.

WtMitrttmdm (Steam).

Cbsstnat Hill

782.90e
98,125
?6,T98

8.7M

Port Arthnr

Week

112(>,186

16,4«4
26,761

^ew 0rlean«*
iswport Nawi.......

Bar Iff,

Uatt,

>>nth.

rse.Roo
813,4«7
24B.470
178,644
844,481
28.766
IH.OOO
149,718

The destination of these exports for the week and dnoe

When

Omt

48,434
Sa,86»
79,848
84.188

Baitimors

P->rtlaD<«.

ktitk
886,686

2ie,Mi

Pkiladslpliia

Jaly
J^cMiM 0/

,^

Total week 1.768,880 1,786,867
236.264
4aaietlme'0a..2,263a36

DIVIDENDS.
Psr

Osm,

nsur.

57%
2II4

76

* Prloe

75%

39 >«

76
74

23
S9>s
SlVs
4314
1U>«

preferred
Deh. "B"...-

98

2214

Preferred...^....
Union Paolflo
Preferred.
U. S. Bteel Corp., oom.
pref.
Do
do

Do
Do

8%

65%

S9

ei-**

Wabash

9826

17
86

381s
121
201s
&8ie

BreadBt«ff8 FIfiireft Broaslit from Pagre 1885.—The
statemento t>elow are prepared by ns from fignree oolleoted
by the New York Produce Exchange. The receipts at
VFestern lake and rWer ports for the weekending Nov. 7,
tnd since Aag, 1, for each of the last three years have been:

26^8
879.8
871118

67%
20%
39%

62
23
89

Pennsylvania
•PWla. * R«»d
Phlla. <k Read., 1st pref.
'Phila. A Re»d.,8d pref
Boa them Paolflo
onth'n Railway, com
.

Frt.

rA»«r#.

17
36

le'^s

L22

Seonrltles....

Wed.

869,0
261s
87 »«
878,8
88I616 87lli6 87%
883, A
98-20 98-30
98-32»s 98-25
SI4
314
S3e
3H
6838
69ifl
65%
68%
92
9S\
98
921s
78i>8
7714
76
77%
90 14
SOI4
90
901s
122i«
121''8
121% 1211s
80%
SO^s
291s
31H
16
Ib^
I514
\!>\
142>«
143»«
142% 1411s
1938
10
19\
191s
68I4
69
68
70
27 »«
28 14
27%
27%
68)«
68
68%
69
60
49%
bO^
491s
135»«
13&>«
130
138%
lOSifl
1U4
102%
1031s
9J4
9I4
9
9

39

—

ortfeem

Tuet.

27 14
88

Sat.

[YOL. LXXVU.

1,686.000

Do afloat
tfllwankao
Do
afloat

_"••

'

12,606

16,606

308,606

"8,000

2,087,000
2,287,100

1.000

666.000

74,000

i,6ei,o«o

4,664,000
8,016.000

1.000
85.OV0

1,365,000
01,000

78,000
84.000

1,184,000
10,000

KaniasCltr

889.tioo

*83,o66

Peoria
[ndianapolls
)n Mississippi BlTsr.

o.i"*"^
S44,ooo

13.000
43,000

116,000
653.0U0
88,000

447.000

rt.wm'in*Pt.Artb'r

nlatk
Do

afloat

Ulaaeapolls
LOBli

•-•

it.

Do

afloat.......

Total
Total
Total
Total
Total

Nov.
Oct.

Not.
Nov.
Not.

1.

••^;^
MSS'SSS
loa.ooe

2,067.066
607,000

670 000

1908. ..86,165,000

7,776,000
7,882,000
9,^00,000
18,641,000
6,786.000

0,845,000
8,070,000
7,682 000
7,700,000
18,848,000

3B Lakes
» sanal and rlTsr.

.

31, 1W08.. 83,3 6,000
8, 100<...3«.0w8,000
0, 1001... 41,060.000

10. 1000... 00,708,000

•

••

••••

84,000

06,000

780,000
308,000

1,077,000
1.0 6,000
1,2:3,000

Z»89.00O

8,18^000

2,689,000
8,509,000

140.000

1,186,000

4,038,000

^6«0,M0

g

.

Nov.

THE CHRONICLE.

14, 1903.]

New York City Cleariug House Bauks.—Statemont ot
condition for the week ending Nov. 7, 1903, based on average of daily results.
We omit two eiph^s (00) in all eates.
BAi^KS.

^urplut.

Capital.

JyegaU.

Specie.

Jyoans.

t

$

*

Chemical ..
Merch. Ex .

300.0
(iOO.O

34'2.3

Gallatin
But. tt Drov

1.000,0
300.0
700.0
500.0
600.0
5.000.0
25,000,0
3,000.0

2.207,2
1-24,2

•2,110,8

Bk. ot K. Y.
Manliat. Co.

Merchauts'
Mechanics'.
America....

Phoenix

...

2,000,0
2,050.0
2,000.0
2,000,0
1,50(1,0
i.olio.o

25,0t>0,0

Oity

Mech.ATra.
Greenwich
Leath.Mtrs.

Amor.Exch.
Commerce..
Mercantile

42-2,7

Pacltlc

Chatlinm

...
...

People's

N. America

Hanover

...

Irvini;
Citizens'

..

Na«s;iU

Mar. A Full.
Shoe ALthr.
Corn Exch .
Oriental

Imp.

...

& Tra<l

Park
East River
Fourth
Central ....
Second
First

N.Y.Xt.Ex.

Bowery

...

N. Y. Co...

German Am
Chase
Fifth Ave..

German Ex.
Germanla

..

Iilncoln
Gartleld....

Fifth

Bk. ofMet..

West

Side..

Seaboard

..

XatX.Eklyn
Liberty

N.Y.Pr.Ex

Kew Amst.
A«tor

450.0
200,0
2.000,0
3.000,0
1,000,0
1,550,0
500,0
1,000.0
1,000,0
2.000,0

750,0
1,500,0
3,000,0
250.0
3,000,0
1,000,0
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

1,347.0
2,747,8
3,511,2
310,9
16,S52,2
7,461.2

4.005,0
2.147.5
5.054.6
29.750.0
4,018.1
10,000,0 122.498.0
4,423,6 2'2,444.5
(>00,5
2,951.4
5,672.2
1,087,4
'2.070,6
394.0
2,045,1 13,606.3
6,307.8 43,368.9
5,801,0
1.050.5
7,033,5
662.6
2,552.8
313,0

370.5
523.1
520.9

-248.5

6.'245,2

346.8

1,

5,747.4
23.365.0
5.882.3

3.-286,8

1,026,9
6,511,9
6,895,3
143.1
2,910.1
602,2
1.304.1
13,412.6

890.3
773,5
651,0
492,3
3.762,9
1,659,4
659,2

873.9
1.309,4
1,289.2

370,6
1,394.2
518,7
1,338,8
58-2,6

1,901,1

507,9
578.8
523,2

$

$

16,614,0
19.563,0
11.356.4
12.421.0
20.308,3
4.065,0
135,600.9
23,534,0
5,219.2
7,373,0

•2,443,1
2,^139,S

2-2,511,0

56,070,0
1,087,9
16,470,8
9,394,0
9.567,0
76,838,1
6,598,1
2,773.0
4.166,2
3.556,4
37,526,0
8,476,6
2.778.6
3,049,6
10,490,9
6,946,6
2,407,3
7,514,8
3,215.0
12,018,0
4,310.0
9.870.0
4,412,5
5,844,5
4,841,0

2,081.0
4,701.0
1,987,3

P.C.

$

1,613,0 18.961.0 -26-7
2.154,0 23.O20.tt 30
1.116.0 12.3S11 9 25 1)
1.271,0 13,21.5,0 302
2,214,5 22.2.^3,8 25-7
280,0
3.540.0 33-1
6,508,5 118.91ii.8 24-6
1,636,9 23.009„>< 29-5
571,9
5.473.6 25-0

•2.731.0
3,52'2,8

539,0
23.798.9
6.169,0
798.3
683,3
549,4
485,0
338.5
2.908,3
3,401,0
20.001,2
3,870.1
378.8
618.3
195.4
1.280,2
8,394,5
679,6
1,346,7
370,2
888.9
1,510,3
8,859.0

48.S,7

4.ti.'^4.0

25

1

2.39,s,<> 24-7
44,4
427.0
4,171.0 21-8
179.3
1,055.4 3 1 -2
7,02s,t) 46-6
361.3
1.661,0 21, .'^04,0 232
5,317,5 101,269.5 25-0
1,112,9 18,929,2 236
485,9
3,731,2 23-1
775,7
5.491.7 25 3
429,6
2.4,-^8,3 251
1.709,1 11.762,0 25-4
6,106,4 60,152,G 26-9
359,6
4,711.0 22-5
448.5
7.619,4 23-5
286.1
2,987,3 21-9
553.6
0.918,7 24-3
184.2
0,763,9 25
3,149,0 27,850,0 26-2
1,466,3
5,572,3 ;i0-2
1,305,0 19,'281.0 24-6
3,5-24.0 62,808,0 27-6
162,7
1,200.0 26-2
2,299,4 17,770.5 25-7
642,0 10,840,0 25-7
1.156,0 10,129,0 23-1
1,914,2 62,l;54,l 25458,9
5,553.1 23 V
254,0
3,075,0 -20
372.0
4,756,5 23 5
210,4
3,402,3 23-3
1,876,8 44,266,2 261
240.7
9,160,9 26-V
635.0
3,251,3 23-2
417,3
4,676,5 17-8
2,'238,1 10.759,7 •23-6
6.S31,7 24-9
358.8
14-2,0
2,309,2 23
448,7
8,513,9 24-0
315.0
3,438,0 23-3
1.866,0 13,510,0 24-9
504,0
4,309.0 23-8
240.0
8,112,3 24-2
294,9
4,333.4 25-4
472,7
6,871,8 19-8
309,0
4,987,0 260

-218,1

3,453.0
13,788,0
152.4
2,270,5
2,149,0
1,193,0
13,687,0
857,5
361,0
748,7
582,5
9,708.4
2,209,6
120,0
418,5

304.0
1.346,9
390,1
1,597,0

489,0
2,000,0
522.0
1,730.3
809,7
693.7

990.0

Total... 115,572.7 129,874,3 900,095,5 169,436,9 62,969,6 t8680447 25-6
t

Total United states deposits included $37,182,200.

—

Reports of Non-Member Banks. The following is the
statement of condition of the non-member banks for the
week ending Nov. 7, 1903, based on average of daily results.
We omit two ciphers (00) in all cases.

1851

New

\«irK (Jiiy. Beaton an<l Philadelphia Banks.— Below
a summary of the weekly returns of the Clearing llouse
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.
is

We omit two ciphers (OO) in

Deposits Se.
.I've.

*

6

1

Capital

BANKS

il-

Surplu.i.

Specie

io<i>w.

N. Y.

00s

(Knitted.

Sur.

tal.

plus.

Invest-

Specie.

ments.

Net

£eg. T.

&Bank
Notes.

Other Deposits
Agent. Bks.<te

Clear'

N. Y. City.
Boroughs or

Man&Br'nx
Colonial

Columbia

..

14th Street.
Gansevoort.

Hamilton ..
Mt. Morria
Mutual ....

19th Ward
Plaza
Biverslde ..
State
12th Ward

.

.

23d Ward..
Yorkville

..

Fidelity

Vanck
Jefferson

..

Century ...
Wash. Hgts
Uiuted Nat.

$
lOO.O
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
100,0
400,0
100,0
100,0
1,000,0

209,2
270.0
110,5
64,0
114,0
109,8
209,5
197,7
243,8
103.3
498.6
100.5

115,0
300.0
252.0
500,0
100.0
300.0
300,0
100.0
100,0
100,0
200,0
200.0

317,3
162,2
532,6
348,6
51,0
649,6
589,5
167,8
166,2
80,4
268,4
120,2

100,0
200,0

72.1
77.8

93,1

271,0
116,4
64,3
256,2
53,2
121,4
206,5

$
2.251,6
3.447,0
1,511,3
1,790,9
2,368,9
1,998,8
2,143,0
1,256,9
2,565,0
1,080,4
6,935,0
1,469,0
1,283,9
1,723,8
675,5
731,1
1.836,9
374.9
590,9
2,031,6

3a, 1

12.3
3,0
9,5

174.6
106,0
88,2
99,8
95,6
93,4
217,4
122,4
138,0
98,5
247,0
203,0
146,5
191.3
36,5
63,8
73,2

4,1

1-2,9

12,0
200,8

28,1
47,4

13,0
91,7
277,2
146,6
12,6
183,0
115,0
13,2
67,5

184,5
49,8
62,5
443,0
61,5
303,0
275,0
57,4
76,7
52,9
19,0
99,2
22,5
105,8

273,9
304,0
266,9
114.8
160,3
266,1
184,9
262,1
345,0

$

54.0
3.0

125,0
38,2
50,0
54,5

301,4

92,9
176,0
83.0

837,0

106,4
224,6

37,1
1,8

65,5
84,3
203,1
21,6
51.3
82,9

75,5

31,8
5
4,6

2,553,6
3,638,0
1,h75,7
2,016.3
2,603,8
2,65'j,l

2,309,6
1,669,3
2,855,0
1,184,0
7,676,0
1,861,0
l,5z2,2
1,876.1
620,8
790,2
1,586,7
294,7
464,4
1,187,2

Sorough o/
Brooklyn.

Broadway
Brooklyn

.

..

Mfrs.'Xat..
Mechanics'
Merchants'.

Nassau Nat
Nat. City

North

..

Side.

Peoples
17th Ward

.

SpragueNat
Union.
waiiaDoat

Borough

.

...

2,093,7
1,413,6
2,939,2
5,697,1

924.7
3,954,0
2,786,0
1,022,8
1,161,2
639,2
1,148,6
1,370,5
815,3
1,437,9

10,1

117,0
49,6
39,8
14,4

192.7
215.4
397,0
234,2
133,7
653,0
334,0
32.5

149.4
101.4
158,6
101,7
37,5
84.3

25,5
100,0
40.0
10.0
19.0
145,0
19,0
87,6
7.2

51,0
128.0
80,5
16,0

2,151,2
1.497,5
3,495.7
6,393.7
1,037.5
4,515,0
3,089,0

Bk.

of St. Is.

25.0
100,0

76,5
110,3

546,3
717,5

17.9
34,6

400,0 1,031.4

4,172,0

206,4

250,0
250,0
200,0

640.7
288,9
278,8

2,278,6
1,180.1
1,105,9

83,3
60,9
47.8

64,5
12,7
89,8

110,0
125.0

522,9

2,445,4
1.119,1

120.4
35.0

23,1
36,9

15,0
10,0

Hudson

Co.

National

.

Second Nat.
Third Nat..
HOBOKEX.
First Nat...

Second Nat.

14-3.7

46.7'23,2 1,126,459.2
15,86'-',
l,13t;,235,2
46,S'J3.9 1,113,913,6

Oct 24
Oct 31

Nov

17,856,0
17,199,0
16,267,0

52,635,4 1.^^8.096.0
52,635,4 18.S,492,0
52,635.4 188.414,0

7

5,659.0 212.031.0
6,591,0 209,776,0
5,567,0 213,833,0

6,417,0
6,445.0

127,199,6
118.040,1
154,607,0

fi,428.0

IMiiln.

66,714,0

209,715,0 11,000,0

54,35.3,0

48.167.1 181,523,0
48,167.1 1,S2, 951.0
48.167,1 184,084,0

Oct 24
Oct 31

208,39(!,0 11.033,0

109,171,0
103,531,8
207,205,0 10,998,0 107,807,i
t IncludmK for Boston and Philadelphia the item "due to otlu-r banks,"
and also Government dcposil.s. For Boston these Government deposlta
amounted on November 7 to $0,413,000 ; on October 31 to $6,408,000.

Nov

7

52,671,0

—

Imports and Exports for the Week. The following are
New York for the week ending for dry goods
Nov. 5, and for the week ending for general mercliandise
Nov. 6 also totals since beginning first week January.
FOREIGN IMPORTS.
the imports at
;

For week.

1902.

1903.

1901.

1900.

$2,062,050
8,326,721

$2,337.4'27

8,289,882

$2,127,967
10,027,364

$1,581,005
9,548,370

$10,388,771

$10,627,309

$12,165,331

$11,129,378

General Merchandise

Total
Since Jan.

1.

$115,152,493 $108,886,729
400.112,104 379,026,334

General Merchandise
Total 45 weeks

$92,325,880 $100,339,049
388,455.352 361,663,458

.$515,264,597 $487,913,063 .$480,781,232 $462,002,507

of dry goods for one week later will be found
in our report of the dry goods trade.
The foUo'wing is a statement of the exports (exclusive of
si)ecie) from the port of New York to foreign ports for the
week ending Nov. 9, and from January 1 to date.

The imports

NEW YORK FOR THE WEEK.

EXPORTS FROM

1903.

Previously reported..
Total 45 weeks

1901.

1900.

$11,361,909
421,561,184

For the week

1902.

$7,613,201
407.548.584

$10,136,698

$9,060,146
457,615,216

432,139,.344

$432,923,093 $415,161,785 $442,276,042 $466,675,362

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 Nov. 7
and since Jan. 1, 1903, and for the corresponding periods in
1902 and 1901.

EXPORTS AND IMPORTS OF SPECIE AT

NEW YORK

EXPORTS.

Great Britain
France

Week.

Germany
West Indies

Since Jan.

Week.

1.

Since Jwn. 1.

$2,579
2,929,164

...

$20.2'89i98i

$24,225
2,000

All other countries

Total 1903
Total 1902
Total 1901
Silver.
Great Britain

$3"ii',od6

641,684
59,999

$323,673
217,997
269,433

$26,225 $32,981,443
219,514
26,453,930
1,621,109
33,935,370

20
720 857
180,016

161431
2,242

3,076,535
1,864,518
64,797
7,675.312
10,300

......

.,

$4,534,209
6,341.776

$510,170 $22,875,270
192,000
2,692,141
3,550
153,701
15,200
166,726
886,460

France

Germany
West Indies

Imports.

........

Mexico
South America

AH other countries
Total 1903
Total 1902
Total 1901

$44,000

841
$i;565
535
30,271

$702,170 $26,793,048
780,084 £9,147,314
2,081,281

<,412,76fr

48,07*.

982,927
347,365
5,747

$32,371
78.254
132,257

4'2,338,027

$1,428,956
1,076,445
3,286,776

Of the above imports for the week in 1903, $1,560 were
American gold coin and $1,565 American silver coin. Of the,
exports during the same time $26,225 were American gold
coin and
were American silver coin.
—
!

—

.

Auction Sales.
—

—

•

'

—See page preceding.
•

-

'

-

- .. —

..11

.,.

^

I

930,9
650.3
1,135,0
1,434,0
833,5
1.459,7

84.6
106,6

12,3

589,1
662,9

230,1 2,279.4

668,4

6,600,6

149,4
119.7
627.9

45,4
10,3
18,9

1,811,3

1.581,8

163,5
49,4

38,8
67.5

2,286,9
1.074,0

jBSSETCrTT
First Nat...

$

7 245,447,0 900,095,5 159,435,9 62,969,5 868.044,7 45,877,2 1.071,300,2
IIOH.

1,344,1

Borough, oj
l&ichmonA.
lBtNat.,S.I.

Clearing*.

lation.

\

Nov

Mexico
South America

$
65,4
214,0
88,5
72,7
151.9
110.6
26,2
21,3
146,0
18,3
460,0
48,0
48,3

Circu-

I)e.

posits.

$

$

Deposit with
Capi-

Leiials.

Oct 17 •246,447,0 908,205,5 171,870,8 08,505,3 >^91.771,4
Oct 24 245,447,0 907,099,0 171,706.6 08,60(1,5 iS9,714,t)
Oct 31 245,447,0 911.508.5 164,0S3,8 6(!.994.5 885.616,6

Gold.

BAXKS.

all these df/ures.

995,0

Tot. Nov 7 8,512.0 101089 79,03.%! 3,506,9 4,578,4
9,774,5 3.104.8 S6 809,4
Tot. Oct 31 8,512,0 1010«9 78.648,0 3,525.7 4,633,7
9,494,5 3.3S.5,3 80,153,5
Tot. Oct 24 8,51-2,0 101089 79,060,1 3,509,0 4,823,7
8.769,5 2,856,9 S5,818,4

Spencer
U^IIiI<IA]TE

Trask &
BANKERS,

k PINE STREETS,

-

Co.,
-

NEW^ YORK*

Transact a general bankinof business; act as Fiscal
Agents for corporations, and negotiate security
issues of railroa(ds and other companies. Execute
commission orders and deal in

INVESTMENT SECURITIES.

Members N.

Branch

r. Stock Gzchanee.

Moffat

&

Office,

65 State

St.,

Albany.

White,

^

Members Menr York Stock Exchange.
1 NASSAU STREET. CORNER WALL,
Dealers in Investment Securities.
Tel. 5820-5821 Corilandt.

Telephone Stocks a SpeciaUSia

..

THE CHRONICLE.

1852

^auhcrs' ©a^ttte*
for THtidemtt tee vagi

tSjo.

WALL STREET. FUIDAV, NOV. 13. 1903.-5 P.M.
The Money Market and Financial Situation.— The security
markets have

coi tinned weak.
Tlie chief depressing influence has been urgent and rersistent liquidation of Pennsylvania Railroad and United States Steel issues. For the
former there see«ms no wdtquate explanation, but in the case
of Steel the industrial situation supplies a basis for the

'^YoL.

Lxxvn

—

State and Railroad Bonds. Sales of State bonds at the
Board include $10,000 Tennessee settlement 3s at 953^ and
§1.000 Virginia 2-3s at 95.
The market for railway bonds has had a tendency to weakness, in sympathy with the stock market, but except in the
case of United States Steel 5s the offerings have been limited
and the decline in values generally fractional. Steel 5s have
covered a range of over 2 points, fluctuating between (55 and
0714.
Wabash debenture Bs have been relatively dull and
declined over a point. Rock Island Railroad 4s and collateral
trust 5s also declined about a point.

movement.
United Strtteu Bonds. — Sales of Government bonds at the
The money market was firm durinj: the ear'y part of the Board include $50 000 2s. reg., i930, at lOG^^; $1,00J 8s,
week, but has become easier on the announcement of gold reg., 1908 IS, at 107;8. $1,500 3s. coup., 1908-18, at 108 and
imports; otherwise the developments of the week have gen- $500 4s, reg, 1907, at 112. The following are the daily closing
Hopes that the Cuban quotations; for yearly fingf tee third vape follounng.
erally been of a favorable character.
reciprocity treaty will soon receive favorable consideration
in Congress have been the cause of renewed activity and an
advance in the price of American Sugar Refining shares.
The rather startling events that have taken place on the
isthmus, including the recognition of the Panama Republic,
while having no immediate effect in financial circles, are
regarded as favorable to the progress of the Panama Canal
scheme, and thus of immense benefit to the country.
The supply of commercial bills of exchange has been
greatly in excess of the demand, rates have declined to the
lowest point of the se»son, and over $5,000,000 mor- of gold
has been engaged for shipment from London, making over
$6,000,000 for the current movement. The money market, as
noted above, is easier in consequence.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
Irom 231 to 6 per cent. To-day's rates on call were 4 to
Prime commercial paper quoted at 6 per
4>^ per cent.
cent tor endorsements and 6@6J^ p. c. for beet single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £389,009 and the percentage of reserve to liabilities was 48 75. against 47'30 last week,
the discount rate remaining unchanged at 4 per cent. The
Bank of France shows a decrease of 7,935,000 francs in gold
and 1,725,000 francs In silver.
NBW TORK OITT OtBASTNO-HOTJUB BANKB

Inttrtst

Period*
l8, 1930
Is, 1930
Ss, 1930,
>8, 1930,
88, 1918
88, 1918
8s,
88,
4s,
48,
48,
4s,
5s,

Q—Jan
coupon Q—Jan

registered

smaJ. registered
small
oonpon
registered

coupon

1918, small. registered
1918, small
oonpon
1907
registered

Q-Feb
Q-Peb
Q-Feb

Q— Feb

Nov

Nov

Nov.

7

9

10

•107 >< •107
107 >« •107

Nov.
11

Nov.

Nov.

13

13

•106»« 106'4 106«8
•106»4 •106''i •106'^

106V
-106V

•iosi^ *i08>« i07V •ibs" *i07\ •ib7»i.
-108'. 108
•108
•108 *107»4 107»4
•ibe'vi •ibeJ, •ibei^ •ibeia •ic6>-j

Q— Jan •lllJa *iii>« •111 •111 •11084
1907
coupon Q— Jan •IIH9 •nil, •111
111 •1]0»4
1926
registered Q— Feb •134 H, •134 Hi •134V •134 Vj •184'-j
1926
ooapon Q-Feb •134 Vj -134»a •1341^ •134'q •134 Vb
1904
registered Q— Feb *101«4 •IOII4 •101 1« *101»«
oonr>on
(8. 1904
Feb •lom •lom •lOlV *101'4 *101»4
•This Is the price bid at the mornlnK board: ao 8«i« was maae

nbe^i
*110»4
*110»4
*134>9

lom •134H
•lOlHi

Q—

*101>«

Railroad and 9Ii8cellaneoa8 Stocks.— On a volume of business larger than of late, averaging over 700,000 shares per
day, the stock market has continued weak. Pennsylvania
Railroad and ihe Uni^ed States Steel issues have been the
features. They received the special and persistent attention
of the bear element and led in a decline which extended to
every department of the railway list except the local transportation group. The transactions in Pennsylvania have been
on an enormous scale, amounting on Wednesday to about
300,000 shares, and when at the lowest it .showed a loss of
6% points within the week. It closes 2>^ points above
the lowest. Reading declined nearly as much and Baltimore & Ohio about 3 points. Otherwise a long list of
1903
1901
1903
from
active shares has declined between 1 and 2 points. To-day's
Nov. 8
Nov. 9
Nov. 7
previous ie*4k
market has b en firmer, and practically everj' stock traded
S
%
*
in has recovered a part of the decline noted above.
*
Man100,673,70(
81.922.700
116,573.700
Capital ............
129. x74 300
117.697.90(
98.965 400 hattan Elevated, Metropolitan Street Railway and Brooklyn
•nrplns
80 ',(9.") 600 Deo li.iis.boc 876.480,60(1 886996000 Rapid Transit held firm in the face of general depression,
Ijoans A diaooiinte
46.8T7,300 Deo
16.700
43,801 801
31,821,400 presumably on buying by those already interested
Circulation
in the com950,419,100
*86H,044.700 Dec 17,671,900 885,882,201
Net deposits
177 839 200 panies, and each advanced over a point to-day.
15»,435,900 Deo 6,247.900 172,a04,40C
Specie ............
Legal tenders
67,118,601
68,956.600
62.b89,600 Deo 4,026,000
Amalgamated Copper and American Sugar Refining have
Beserreheld
322,406,400 Deo 9,273,900 239,822.9(0 246,294,700 also been strong, the latter on the prospect of a speedy
S6 p. e. ot deposits 217,011,176 Dec 4,892,«75 221,470,660 237.604,776 adoption of a reciprocity treaty with Cuba. Colorado Fuel
Ir n and Tennessee Coal, Iron & Railway were weak, in
.'),394,23K Deo 4,879.925
17,862350
8,689,926
Surplus reserve
sympathy with United States Steel. Common shares of the
* $j7 182 2 lU Ontled States deposits included, against f 37, 166,800 last
week and $40,834,100 the corresponding week ot last year. Witti these latter sold at 10 and the preferred sold fractionally below 50
XTnlted 8UkiB8 deposit)! eliminated, ibe in rplns reserve woaia be $14,689,775
on Wednesday, as against 55 and 101 Jg respectively, at which
on November 7 and $19,663,360 on October 31.
they have sold since their issue.
Beturns o{ separate banks appear on the preceding page.
KOTB.—
For daily volume oj busineaa seepage 1865.
foreign Exchange. The foreign exchange market was
The following sales have occurred this week of shares net
unsettled early this week in consequence of a'most unprecedentedly large receipts of cotton bills, and in the absence of represented in our detailed list on the pages whioh follcw
Sale*
demand rates fell to extremely low figures; after the middle
STOCKS
JBange for Wuk
Bomge tince Jan. i.
for
WteK ending Nov. 13 Week
of the week there was a recovery. The engagements of gold
for import from London were reported at $5,075,000, and the A-Uls-Chalmers Co
100
8 Not 10
8 Oct
8 Nov 10
28 Fet
arrivals this week have been $950,000, making the total American Coal
100 190 Nov 9 90 Nov 9 190 Nov 210 J'n»
A.m Steel Fonndries, pref 800 43 Nov 13 45 Nov 7
43 Nov 09>aFeb
$6,025,000.
General Chemical
100 55 Not 18 56 Nov 13
56 Nov 72 FeD
To-day's (Friday's) nominal rates for sterling exchange Nat Enam & 'Stamping.. 978 12 NOTlO 16 Nov 7 12 Nov 36 Mar
40i40ot 67 Feb
110 41 Nov
41 NovlO
were 4 fe0i^@4 81 for sixty day and 4 84@4 84^^ for sight. To- N Y Dork, pref
Quicksilver Mining, prel
100
6 Nov 18
6 Nov 13
6 No^
9 Feb
day's (Friday's) actual rates for sterling exchange were 4 7960 B.4n»selaer & Saratoga..
60 208 Nov 11 208 Novll 204 J'ly 208 Vi Jam
200 100 Nov 9 100 Nov 9 94 Oct llO^sFeb
(34 7975 for long, 4 8325@4 8335 for short and 4 8375@4 8390 Dnited Fruit
for cables. Commercial on banks, 4 7925(34 7935, and docuOnt'tide Market. Trading in the market for unlisted
Cotton for payment,
ments for payment, 4 l'i%@\ 79^.
securities has been on a limited scale again this week and
78i<@4 78;^^
cotton for acceptance, 4 7925^4 7935, and
4
the movement of prices has been decidedly irregular.
grain" for payment, 4 79^8 @4 79^.
Dealings In Northern Securities stock have been very light;
To-day's (Friday's) actual rates for Paris bankers' francs
22^^ for long and 5 20?^ (35 20^^t for short. on Monday these shares sold up to 88^8 a gain of 2^^ points
were 5 22\i*@o
Germany bankers' marks were 94 l-l6i,aD94i^ for long and over last Friday's closing; on Wednesday weakness develAmsterdam bankers guilders were oped and the price moved down to 84^.^; today, after recov94}^+ '394^ for short.
ering to 86)4, the price reacted at the close to 85i^. Inter39% *@ 39^8 for long and 40 1-16«40 1-16TI for short.
Exchange at Paris on London to-day, 25 f 173^ c; week's borough Rapid Transit gained 5 points to 95. Renewed interest was taken in the Seaboard Air Line issues to day and
range, 25 f. 19 c. high and 25 f. 163^ c. low.
both the common and preferred stocks show substantial
The week's range for exchange rates follows
gains; the common advanced 1^ points to 14^8, bu reacted
-ShorU-Long.-Cable*.
BUrHng AetuaUat the close to-day to 14%; the preferred rose from 21 to
'9 4 8410
'3 4 8460
4 84
4 8460 -a 4 8470
Hlch... 4 8040
2Z% and ended the week at 2^\^. Standard Oil .stock
9 4 7930
4 8290 '3 4 8.^26
4 8350 '3 4 8376
tiow... 4 7916
but
recovered
15
points
to
645,
later
lost
ta
ParU Bankert" Franc*—
was at 650.
Considerable
•» 6 20*
656; the last sale to-day
'3 6 21V
5 20t
High... 5 22>a
» 6 20S*
'3 622>«
S21>«
liOw. .. 62318
activity was developed by American Can issues; the com04rman'y Bankerf Mark*—
mon advanced from 2% to 3% but subsequently fell back to
'3 941I16I
High...
94>«
-a di»i»
91V
33^; after a gain of 13^ points to 28, the preferred stock re'S> 94>a
93i»ig
9 94
Low....
94'i9
ceded to 273^; today it again advanced to 28 and closed at
Awuterdatn Bankert" Guilder*—
27^. International Mercantile Marine common rose 3^ of a
High...
iOm
» 89
3^V*
39i»j«
» 89V
•a 40ii,11
.....
Low. ...
AOhe
point to 43^ but to-day it dropped back to 4; the preferred
Pins: H »ig
iMn: ' »i. Of 1%. t »81 of 1%. t »81 Of 1%. Plus: nil, of 1%. ••is* of 1%.
»8i
»8i of
moved up \% points to 19 but to-day it sank to 17 Jg- After
The following were the rates for domestic exchange on a fractional gain to 15, Greene Consolidated Copper declined
New Sfork at the undermentioned cities to-aay: Favaonah, to 14 but to-day it recovered to 14^,^. Tennessee dropped 23^
62^0. per $1,000 discount; Charleston, 50c. per $1,000 dis- points to 28; at the close today it moved up again to 303^.
ot & point to,17;
count New Orleans, bank, $1 25(3$1 per $1,000 discount; Early in the week United Copper gained
oommerclal,$l 50(a,$l 25 per $1,000 discount; Chicago, 20c. on Wednesday it sank to 15, but on the same day recovered
per $1,000 discount; St. Louis, 30c. ptr $1,000 discount; to 16. The close to-day was at 15;^
Han Francisco, 25c. per |1,0C0 premium.
Outside quotations will be found on page 1885.

&

1

—

1

—

;

,

.

I

I

I

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I

I

I

1

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I

I

I

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1

1

JNew Yorli 8tocl^ hixchange— Stock Record. Daily, Weekly and Yearly
0('('l'l»YI\»; TWO I'Al.K--

^

HTUCKli—HJaJlhiiT
Satvrtiav

•29
33
•55 Vj 5H

yiotniaii

yov. 10

•29
34
•55 V. IW

65\

l!4\
89^4

i>5>«

64*8

90

89 4 90

75 "a

7',!

7538

763^

88

88

SSI*

X7»8
3534

^"^

*121
•138
lis
•04

12ti

"8

35=8 37»«i
•121
127

•138
IISI4
"-i

•150
30

05
158

30^
28% 28\
64 '4

•183
•110

'54 >4

2O11

124

14'6

15

IISI4 119
•61 "-J (>:t

M56

158
l29»8 29 >4
2814

•63 Si kio
•183 200
•110 124
14-"^

•82
•63
•25
26^4
137^8 13834 138 '4
•172
173 173
165 Vj
163^8 165

•82
•63
•24

28>-j

84
64 S;

15'4

84
04>2
2634

13938

174
165

ij

180

'160

8

8

16%

lOHi

16'll

5Sj

SHj

•32
*>iH

•105

35
T2
115

•1134

I'.i'll

•53

54

•20>-j

2m2

•1523^154
•230 235
•181-2

19'-^

67 'a 07^8
•14
18

•100
8
8
1634
17

180

•5
5
{5
•
•30
35
•71
71
7i
•105 115
•105
12 '4 V2\t
12
52>-j 52 k
524
•20
20
21
'153 155
153
•230 235
23018

20
6638 67
•13
19
•18>-i

939
1634

938
16^4

'8'a

9
10

64>-2

^i^

*64»-2

66

9

»7'a
•IOI4
26*8

9

•15

*7»3
•IOI4

12

12

Th ursiian
Xov.

12014 12614

160

8
17
6

•8

35
73
115
12

164
514

180
334

4
64

17

28
6:^3^

7:!34

87
37
1 27

ig

150
117 4
6434

157

04ia
1836

31

65
•17
•30
•10

6514

•40

70
115

524

So.'

12
52

2034

20

20

1134

I634

1634

2914 31

O3I4 6512
•IOI4

29
10
40

18
303,

24

...... ••*•>.

9^

8^

8^8

_9^

834

29 '4
67 4
200
124
15
85
66 14

144

85
67

*>S2

66 14

264

25

2634

173
162 >8

•160

180

-8
17

17

17

834
5I4

5'4

OS's

115

1934

69
•100

Ilia
1934

9'i;

83,

9

6978

115
12

1134

51 14
51
19 4 2014
152 152

51

2374 2374
-17 4 19
02

6378

14

:

883

838

15

15

62

644

§712

71a

•10

135
46
87

•120
45

-8
*34

13

BA^'KS
Banks

Mid
Banks
Bid Ask Colonial H ... 405
America .. 500 515
Columbia .. 375
Anjor Exch. 210 225
Commerce.. 6 t207

12
37
16

I1

A.slc

I1

750
...
350
BuicJi'StS; Dr 140
Central

Century 1i...
Chase

Chatham
Chemical
Citizens'

Citv
»
1

...
...

1000
380
150
160

175

OoO
.100

320

1000 4250
oo
t260

Cou.solidated

160

170
o50

C'ruExchgel 335
Disconntlj ... 155
East Kiver.. 150
Equitable ...
100
Federal H
UOO
FidehtyT; ..
Fifth Aveli..
Fifth
Fir.st

180
i700

lianye lor J^reviout

Vt'iir I'.HKi

year(jy02)

Lowest

Uighett

Lowest

Uiflhest

Do

&

Chioafco

Quiiicy

<fc

4

1)0

5

Do

4

p. o. (lebeutures
p. c. i)rof.
p. o. prof.

"

"A"
"B

6aia

47 14
•57
•73

05
80

38

160

Aug

83 4 Sep
63 Oct
24 Sep

•

,

& Terre Haute..

Kvausv.

Do

70 4 707g

80
127
20

804

pret

Cstmp.

100

Great Northern, pref
(ireen Bay<feW.,deb. ctt.A
Do
del), ctt B

22
700
300

Hocking VaUev
Do

pref
I28I4 Illinois Central,
20 4 owa Central
34
Do pref

Kanawha

<fc

12,970

300
100

Michigan..

"436

C.Ft.S.<feM.,tr. ct.s. pfd
So. vot. tr. ..
Do piet. vot. tr. ctfs

200

Kansas City

Keokuk

Do

Lake

Des Moines..

pref

Erie

Do

L.

<fe

& Western...

325
400

pref

Shore

Mich. South'n

<fc

12

"8

10

37

•34
•13

37
16

16

5,115

pref
Missouri Pacific
Chatt.
St. Louis
Nash.

67,535

&

at.ot

pref

Do 2d pref
Pennsylvania

Da

St. L.

40U

Ist pref. vot.
2d pref. Tot'g

166,490
620

tr. ctfs.

Rock Island Company

800
54,670
3,300

Do

pref
Rutland, pref

St. Joseph dfctrr'd Island.
"

Do
Do

5334

77

\U\\ Sep

Feb I]
7 la Feb 17
150 Feb 9 110
160 Fob 9 139
13834 Fob 10 112 '4
7S4 Jan
71

.\pr

28

Apr

•15

Jan
Doc

97

190

Nov 198

10
9

963,

Janl'.i

53 4 Jan 19
3714 Jan
7318 J an

7

n^ ,Marl2
I38I4 Jaii29

Nov L2
AuglO

l!>5

Ist pref.
2d pref.

06
1

Sep

'h

8 4 Sep

99 Sep
7238J'ly
.-Vug

Sep
45i4Sep

M»J
Jan

57 4 Sep
29 4 Doc 45% J'ly
68 Nov 79 J'ly
§191 J'nc (205 Jan
136 4 Sop 151 J'ly
22 Doc 35 Aug
89 4 Nov 95 14 J'ne
42=8 Doc

81

1"

Doc

9014 J'ne

Kob 5 33 Doc 5134 Aug
"
18314 Jan
KiOioJan 9834 Sep
1941.1 Jan
186 Jan 20034 Sep
224 4 Jan 14 204i8Jau 271 Apr
J50 .Jan 8 230 Jan 274 4 Apr
200 4 Jan 9 152 Jau 206 Sep
Feb 170 4 Apr
162 Jan 21 140
194 Jan 5 194 7gNov 210 Apr
Doc 24 7e .\ug
1978 Jan 9
15
36 Jan 8 29 Doc 44 Sep
174Janl2 1034 Jan 23 ,\pr
5934 Jan 14
4434 Mar 60 Apr
93 Nov 10838 .-^.ug
9938 Jan
119 Jan 27 IIH Jan 124 '8 Sep
31 4 Jan 10 14 4 Jan 3534 J'ly
72 Jan 9 5914 Jau 79 4 Aug
48 Jan 8 28 Jau 5378 Sep
83 4 Feb 2 153 4 Nov 184 4 Jan
276 4 J an 8 231 Nov 297 Feb
43 Feb 9 35i8Dec 5134 Aug
90 4 Feb 9 86 4 Dec 9634 Aug
47i4Jan 8 35 Dec 5358 J'ly
203$ Jan 2
13 Feb 25 Sep
3934 Jan 2 26 Doc 48i4Sep
90 Jan (i 75 J'ne 97 Sep
10 Jail 24 Aug
19 4Feblti
2938 Feb 16
IS^HJan 3534 Apr
4258 Jan 9 28^8 Hoc 4458 Jan
74 Feb
60 4 Uoc 7534 Jan
6478 Feb
414 Doc 6334 Jan
724 Jan s 50 Mat 7438 Mat
4r,7g

1

1

1

Jan 8 82 May
Feb 24 30 Jan
Jan 22 181 4 Mar
Jan 9 70 Jan
9 Jan
274 Jan 5
4Feb2() 66 Jan
106
99i4Mar 2 81 la Jau
151 Jan 10 137 Jan
48 Jan 12 35 's Doc
773tJanl2 65 Nov
47 4 Jan 6 337a Jau
8234 Feb 26
75 Doc
36I4 Jan 12
19 Jnu
6II4 Jau22
44 Jau
40 Mario 13 Jan
§55 Apr23 45 Jan
53 Jan 8 40 Dec
118 Feb 6 120 Oct
3344 Jan 5 325 Apr
83 Jan
72 4 Not
1304Jan 8 102 4 Jan
1554 Jan 14 128 Mar
12878 Jan 6 1094 May
14278 Jan 6 135 Oct
38 Jan 8 35 Doc
88 Jan 20 89 Mar
29 Mar 2 3 2059 Dec
91

7434

209
85

135

Janl

150 Mar

Jan 9 105 Jau
Feb27 1184 Jan
79i2FeblO 364 Jan
13214 Feb 17
90 Jan
3913 Jan
22 4 Dec
63 4 Feb 10 51 Jan
1157gFeblO 9634 Mar
114 Febl6 80 Jan
4758May27 3134 Dec
284J'ne30
156 Jan 10 147 Nov
45 Jan 7 40 Nov
118 Jan 16 1104 Nov
87 Jan 19 80 Nov
225 14 Jan 9 209 4 Jan
35i4Feb 5 25 14 Dec
76i4FeblO biy Jan
93 4 Feb 2 90 Feb
72 Janlu 65 Dec

Feb
Deo
Deo
May

10434
671a

203
90

294 Oct
Aug
98% Dec
1734 Aug
5134 Aug
90% Apr
504 Aug
88 Aug
39 Aug
6234 Apr
106

41

Sep

84

Apr

71

4 Jan

Feb
Apr
9 17a May
1594 Aug
158 Nov

138
340

1344J'ly
174 Feb
43 Jan

Mar

9134

31 4 Mat
192 Apr

110

Apr
Apr
Nov

115

118

12734

3934 Sep Z'd
80 J'ly 30 100

450
400
<fc

8534 Augll)
85 Oct 15

85

1,007,212

tr. ctts..
tr. ctfs...

534 Oct 14
8 4 Nov 6

590 nS74May2o
19
Sep 2S

9,520
13,470

pref

Reading, vol'g

Oct 13
Oct 9

36,275 112^8 J'ly 15
lou 19 4 Sep 2&
10 100 Oct 6
50 Sep 28

50

Pittsb. Cin. Chic.

90

-Z

N. Y. Central & Hudson.
N. Y. Gliic. cfc St. Louis...
Do Istpref
Do 2d pret
N. y. N. Haven & Hartt.
N. y. Ontario <& Western.
Norfolk <& Western
Do adjustment, pref.
Pacific Coast Co
Do Istpref
Peoria & Eastern
Pore Marquette
Do pret

23iaNovl2

300 344 Mar
150 174 Oct 11)

Mex, non-cum.pt

Do 2d

>

Apr 1;

44 J'ly 24
39 4 J'ly 27
78 Augll
31 Sep 29
160 Oct 12
77 Marl2
10 Augll
63 Sep 25
77 Oct 19
125 ig J'ly 15
15 J'ly 27
304 Oct 12
25i4 0ct 9
62 14 Oct 12
16 4 Oct »
29 Oct 8
10 Oct 2
48 J'ly 15

102 .\lay20
i]6o6 41 Oct 12
85 Aug 5
"375 42 Aug 7
182 1094J'ue 2
800 15 4 Oct 10
1,000 33 Oct VZ

Texas

Do

62

la

300 50 NovU
12,015 95 Sep 2«
39,585 I26I4 Sep 28
8,900 704 J'ly 24
24,100 9978 Sep 29
18 Oct 10

&

<fe

Aug

23

'<270

Long Island
Louisville
Nasliville...
Manhattan Elevated...
etrop. Secur., sub. rec.
110411214 11034 11258 Metropolitan Street
"17
20 Met. West Side El. (Chic.)
•544 57
Do pref
834
878 Mexican Central...
8% 834
•120 135 •120 135 Michigan Central..
41 Minneapolis & St. Louis.
47
494 41
82 90
90
Do pref
•52
534 524 54 Minn. S. P. & S. S. Mane.
111 111 •110 116
Do pref
Mo. Kansas

Novil

340 10

May
4 May

4834

Jan
'4 Jan
954 Jan
92=8 Doc
92
Doc
5434 Nov

29*8 Jan 9
9078 J an 13
85 4 Jail 9

2;

Feb

33
74

I

St. Paul.

96,026
8,160
8,070

10
21
10

1)3

2

131,085 133i4Ang
4"" 168 Augl
2,550 153 Sop 2
200 190 Aug
Do pret
132 Oct 1
Chic. Rock Isl'd & Pacific
100 117 J'lyl4
Chic. St. P. Minn. & Ova
190 Mayl
Do iiref
500
8 Aug
Chicago Teriu'l Transfer
1,050 15 Sep 24
Do pref
950
3 May 2 3
Chicago Union Traction
30 May 2 2
Do pref
1,000 66 AugiO
Cleve. Cin. Chic. & St. L
llS'aJ'ne b
Do pret
2,030 10 J'ly 24
trust
Colorado <fe 80., vot.
1,420 44 la Aug
Do Ist pf. voti. tr. cfs
Do 2d pf. vot. tr. ctfs. 1,250 17 Aug
1,000 149 AuglU
Delaware cfc Hudson...
600 230 J'ly
elaw. Lack, cfc West'u.
535 18 Oct 12
Denver* Rio Ciraudo
1,930 62 Novi:
Do pref
12 bep 29
_
Des Moines <fc l<'t. Dodge
734 Aug 6
ii'ioo
Detroit South. vot. tr. ctfs
1,100 14 Nov 12
Do pref. vot. tr. ctfs.
470 55 Oct 14
Detroit United
55
7
Aug
DiUuth So. Shore <fc Atl..

&

Ft. Worth<feDen.

188
79
10

25
65
18
•29
•2838 31
31
10 20 10 20
40 50 40 50
25
234 231a •23
•89
90
90
95
275 300 •275 300
•45
55
50
50
9834 9978
99
991a
137 13834 1374139
»1
8178
804 81

•»

"300

350

Do pref
264 Erie
66 4
Do 1st pref
4778
Do 2d pref

31
21
631^ 63 14 •6314
I6I2 184 15

34
13

J'ly2

105
3,500 13

lOast. lll.,pref.

Chicago Ureal Western..

Do

2.
2;

1

prof

Chicago Hurl

8234 J 'ly

:

Alton

t&

28 Novi: 41 Jan
57 Oct 2
69 Jan
54 .VUijK
SO 7,, .Ian
84%.\ugll 103 4 Jan
71"8Sep2; 104 Jan

84

Sep
Sep
Sep
125 4 Sep
139

3534
6934

Apr
45% Mar

122

1687a Jan
5758 Aug
124 4 Jan
100 Aug

Apr

255

3758 .Sep
8O34 Oct

98

J'ly

81i2Sep

Feb 13 1004Jan 106 Mar
50 14 Augll 76 Jan2e 72i4Dec 8434 Sep
UO34N0VI2 15753 Jan 10 147 Jan 170 Sep
15 J'ly 24 39 Jan 8 30 Nov 47 la Apr
74 J'ly 27 91 la May 7 71 Feb 85 4 Sep
§76 Sep IV J76 Sep 17 80 May 93 Sep
55 Sep 29 94 Jan 7 80 la Jan 105 4 Sep
90 Oct 7 115 Jan 17 113 Mar 128 May
3838Novl3 69 14 Jan 2 52i4Mar 784 Sep
73 .Sep 2y 8978 Feb 5 79 'a Mar 90i4Sep
51334 Novi:i
81 Jan 6 60 Jan 8078 Sep
19 4 Aug 6 oSSgJan 9 33 4 Dec 504 Dec
71 Nov 85 4 Nov
5534 Sep 28 86 Jan 9
30 Augll 72 Jan 28 64 4 Dec 125 Apr
7
Oct 1 15i4Jan 2 10 Dec 2414 Aug
32 Oct 12 58 Jan 5 4934 Dec 81 4 Sep
13 Oct 1 247eJaul9 24 4 Nov 42 Sep

AND TRUST COMPANIES—BROKERS' QUOTATIONS

NEW YOBK

Astur
Boweryl,

or

29 4 Sop
100 121 Novl
140 Sop
14,050 11558 Oct 1
600 57 4 Sep 2
200 153 Oct
5,860 27 14 Novl:
8,458 184 Sep 2:
3,510 60 Sep 2:
§170 J'ly2

11

2534

135 120 135 120 135
45
44
45
45
484
•82
•82
85
•SO
85
88
83
•53
•52>2 64>2 "521a 55
5218 53
54
•111 115 •111 115 •111 116 §115 115
•10
•10
17
17
-16
17
17
17
17
17
16
164
344 35
35
35
34
34
344 35
341a 35
•34»a 35
89 14 9018
8934
8858 8958
88=8 894
89
8878
8758 8878
87
92 95 -92 95 "92 95 •92 4 95 •91 95
• 92
95
36I4 36
374 sa 37 38
37
37
"3614 37
3«
33
17 19 16 18 "104 18 14
•I7I2 19
17
17
•171a 184
11778 11741184 11534 117'a 115 11634 1145811558 11458 11634
117
24 26 *23 25 4 •24 26 23 26
-21
23
23
25
•100 105 §105 105 •100 105 •100 105 '100 105 •100 105
•56
*58
•58
•55
05
•56
•50
65
62
68
61
61
•194 Wj 196 §19614 19014 §195 195 §1944195
195 195
1944195
20 14
IUI4 1958
19 14 1934
20
1938 1978
20
20
191a 204
56I4 50'6
56-'8 56^8
5559 5034
5538 56
5334 547g
5334 554
80 87 *85 89 •85 89 86 89 82 Si)
•85
89
44 47 •44 47 •44 47 •44 47 •44 47
•44
47
•80
•85
•85
•80
•80
•80
•53
*53
•53
58
53 60 "52 57
57
60
§56
56
llOTgllVTg 11634 117''e Il4i8ll67g 1 12 14 11434 11034 11258 III4II3I4
•18
•18
19
19
194 18
18
19
19
174 174 •17
•75
•75
75
75
75
75
79
78
79
75
75 4 •75
*55"""59'" -55" "59"
•55
-55
*55
-55
60
Oo
60
60
•90
•90
•91
98
98
98
90
90
"88
90
90
95
44iS8
4378 44^6
4234 44 1*
44
43*8
41
3812 41 14
3S38 40
•76
•76
7;j
78
478
77
77
78
76
76
76
76
•
63
•604 63
5978 5978 •581a 62
5034 58
5714 57'3
2334 24 Sj
22 14 23 4
23^8 2414
2338 24
23 >« 235„
2278
22
•58
60
57 14 58
5812 584
58 's
58
5718 574
577a 59

•120
•43
•82

I

or lOO-sliarelots

161416214 Chicago & North Weslurii

834

114
504

ChicaKO

13458 136% Chicago Milw.
172 172
Do prof

l:<G7e

74

§65i« 6518

Jian(/s

On basis

81,445

New

06

144

081a

105

5,21 >0
156,51'.
1,1140

27*8 Chesapeake <& Ohio

183
110

84

10 20
20
40 50
50
*23ia 251a
24 4 24
26
4
•874 95
90
90
871a 100
•270 285 '275
•265 235
•50
50 60
60
50
50
99 la 100 ig
9934 100>4 loo's 101
991a 1004
136 136»s 130 138^4 I38I4I39I4 13814 139%
80»2
80
814 801a 814 8O34 8II4
80
IHI4 11238
109 IO9I2 10976 11138 11034112

•10
20
•40
45
'23 "a 25
•85
95
•205 285
•50
60

6334

284

5

t

(^aiiaillaii Pacific
(14 3j
'anaila Soiitliorii
157 Oouiral of
Jersey.

154

28 4
66
200
120

180

SanUi Fe 146,oV6

117'«ns
27 14

•8
17

iiii

it

.

•153 155
153
151 153
23018 234 236
•235 238
I9I4 I9I4 "181a 20
18
184
05^8 OS's
65 "g 6558
65
65
13 19 13 19 •13
938
858
9
8
84
•15
17
1614
16
14
16
64I4 66
64
•0234 0434
64
9
§8
8
71a 9
IOI4 IOI4
1018 §1114 III4
10
2539 2634
27
26
2558 2638
00
064 6578 661q 65 4 66
4818
48
4718 48
484 48
58 05 57 62 *55 65
73 80 73 80
*73
80

50

18
31
20

Do

i2o'"i2o" •i20"i25"

LOO

Atch. Toi«'ka

89'

1 1^

72 4 737a Bnltimoro i\3 Ohio
S7
87
Do prof
30 19 3738 ISrooklyu Kjipid Transit
120 127 llullalo Rooh. ifc PUtsb'g.
"130 150
Do prof

2Sl4

27'-j
26 ^8 2738
66 4 >Sli'i
06 '4 67 »s
48 >a 4938
48 »a 49 >4
*60
•00
65
65
•73
•73
80
80
38
*38
38
*38
39
39
•100 176 •160 178 •100 178 •160 180 •160 180
*
79 *
79 *
79 *
79 *
79
»10
12
10
10
10
10 •
•10
12
10
•69
7134 71'8 •09
71
•69
-70
71
72
70
82
8078 8078
'SO
80
80
82
80
80
'SO
1297813034 12918 12978 1274129
13014 1303s 130ial31
19 20 19 20 •19 20
20
2014 20I4 •19
•32
32 34
•32
34
34
314 311a *31
34
•24
•21
•24
3312 •24
33
334 31
25

64^2
1838
•2934

S8I4

S934

,;

100

Ann Arbor
Do prof

28
60

'56

35

70
•105

Sales at
the
iVeek
Sh a ri's

STOCK

EXCHANGE

yov. IS

33
00
64

64^8

180

friiUiii

1'4

28

33
60

STOCKS

NEW YOUK

Uaili'ontlM.

'28
33
•56
50
60
63 4 6478
025b
8834
89
89 4
89 4
75;«8
7258
73-V 75
87 4 87 4 §87
87 4
374 30 Si 3738 36
30
• 120
121 121
135 150 '130
117 11734 11678
117'«118
•64 4 65
03 4 03 4
64
'155 159
•156 158
156
28 14 2834
2834 29
2738
2734 28
27*8 2814
28
64I4
6334 0434 •63
0434
'183 200 •1S3 200
183
-110 124
•HO 124 110
14=8 15
14>4
144 15
•82
82 87 4 82
87
64i« 64>4
03
03
•61
•25
27
*24
26*4 •24
13758 lass, 130413814 135=8
172 174 •172 174
173
16158165
}165 165
162

•28
•56
64
89 4
74 Si
87 4

•i'io" i'io" •i-AVili'tj" •i20'"i26"

•100
8

SALi. PRJCi:S

Weiinfsday
yov. 11

Tiifsiiaii

you. a

7

JiOB.

LOW KST

AA'JJ

Banks

Bid

14th Streets. 300
Fourth
175
Gallatin
390
iiansevoort1[ 140
Garlield
500
German Ami 150
German Ex" .575
Germaniali .. 600

Greenwich
Hamiltouli

1i

..

<;300

190

160
;io

170

Leather Mtr. 290
Liberty
Lincoln
1000
Maniiattan'i. 310
Market cfc Ful 220
Mechanics'
230
-Mech cfc Tra' 140
-Mercantile .. JOO
.VIercli E.xcii

<50

525

Irvins

:.-!0

;2o

140

.

Hanover
500
Imp cfc Trad.

.25

Bid ana askeu prices; uo salea were matle ou tais day. i ijB8.s tiij.u ii).> sii-ircs. in,-; rufnos.
Sale at Stock Exchan ge or at auction this week. s rru.^t Go. cerciticat.es.
Assessment n;

Banks

Bid

Ask

600
1050
.i25
.'50
.'45

i50
i25

2i:>

180
190
500 550
1500
220

New AmsteiNew York Co
NY Nat Ex.
Xew York...

2 70
19th Ward',. 125
North Aiuer. .'10

Banks

Bid

Phenix

Mutuairi...
Nas.sau*i

150

j80

450

Plazal,

Prod Exchi;
Riversidell

.

.Seaboard
.Second
Shoe cfc Leth.
Stated

Northern

120

30

230

-'10

.i4th SI feet..
12tii Wardt.
23il WardT..

425

Park (new).. 100

125

Union Exchi

.61)

90

J

30

People's'i

State uauKs.

ci

Ex diviueud aud

600
650
150
700
210

180
290
650
170

215

125
120
150

90

i;nite<l

riguis.

170

..

Orientiil'i
Pacilicli

.'00

Ask

100

iV5"

rl703f

Mercnants'.. 165
-Vleiropuew
!75
vlt MorriN" ..
li.

A sic

Bid

Jelt'ersonll...

ilOO

i75

Banks

AsJc

«;

New slock.

Stock Record— Concluded— Page 2
STOCKS— HIGHEST AyV LOWEST SALS PS J CSS
Saturday

T^tfsiiay

yov. 9
•5-:
•tiO

70
45

•44
lb-2
•12>-j

' i".0

1 :>-i

'14o

14

13

3-2

•28

*2i»'4

•53
•60

70
4o
160

45
145

13
31 ".J

41.>8

42

414 42%

17'4

IS

ITV,

73

73^4

3>s

IS
74

22^"23i4
»105
2-2

105
•20
17
*25

...

U

22

1«

25

Id

2i'0V.

'00

....

22 ^t
17

-VOD.

'54
•60

70

454
160

1234

22<<8
.

'22

174 174

160

1234

4034
16"8

7108

90

224
•20

70

•29

•414 413^
17
173,
72^8 '74

'22

Thtirsdav
Jfov. 13

•54
'60

'145

160

4434

St.

145

1st pret
2il iiref

C.& E. I.cora stock tr otfs

429

,

1638

4

17 S

lii»8

17

73

7134

1734 Southernv.tr. c£s. stmped
72 4 72"
Do pret.
ilo
M. <£; O. stock tr. ctfs
"22"* ""2*234
'pexas <fe Pacific
116
1 hiril Avenue (N. Y.)...

72 4

17

•26

22" '224
'lOs

20

115
20

108

'20

154 154
24 4 25 4

214 Toledo Railways & iJcht
1634 Tol. St. L. <fe W. V. tr. ctfs
25
Do pref. vot^ tr. ctfs.
87 4 Twin City Rapid Transit

16

25
27
26
264
•864 874 87 4 8734 *S6
884 87
Do pret
'6934 7"l""4
714 7238 "704 7i4 694 714
69 4 7038
71HJ T2\
Union Pacittc
•85
•854 S6 4 854 86
85
85
S53.
85 4 S5 4
So-'i
Do pref
_
•10>2 im •104 123f, •104 12 4 •104 124 •104 124 •104 12 4 UnltRysInv'tof SanFrau
48
44
44S;
444 4538 453» 4538 45:'s 454 454 464 454
Do pref
ISi^ 1878 •184 19
ISSs li'
ls34 19
1834 19
819
19
Wabash
32 Tg
31'8 32 4
3234
32 V :^2a,
32»9 334
22
3134 32^8
32
Do pref
15
•144 15
•144 15 Si
14
1434 1434 144 15 Si \VheeilnK<fe Lake Erie...
14
14V2

J 25

25

•874—.

"

42
•32

la^

42
23

42
•22

15>«

42
23

42
• •>2

•41
22
16

42
23

15-^

16

34

22 4

164
334 344

164

16 4

34

42

334 344

41
21

42
22

414

4138
•21

Do 1st pref
Do 2d pref

22

15

154

1434

334

154 Wisconsin Cent.

3338

33

334

Do

Saiige ror Year 1903
Mange for J^eviom
orlOO-sKare lots
Year (1902)

0»> basis

Week
Shares

St. LiOuis SouUiwestoru..
4 124 12
294 30
29
Do prof
4039 4138
404 414 Southern Pacific Co...

12

31 S.
41 4

'22
mo 110
214 2n8

the

LAS Fr.JPM&Coctto
Do
Do

69
44 4
160
13

444

Sales ot

STOCK

EXCHANGK

13

S\'ov.

69

123,

4

17

'60
•44

STOCKS

NEW YORK

J'yiday

•S4

•145

SO

90

11

444 45

123^

30

'105

....

Wftirifsiiay

[Vol. Lxxvn.

v. tr. cfs.

pref. vot. tr. ctfs.

& iVUscell
Express

Industrial

Lowest

Highest

Lowest

Highest

56 J My 25 904 Feb 2
5534 Jan 854J'ly
68 Aug! 3 88 Feb 2
77 Dec 90 J'ly
1,(>25 42 4 Sep 29 78
Feb 24 65 4 Dec 8038 J'ly
100 148 4 Sep 28 170 J'lyl
8.^0 12
Aug 6 30 Jan
24"4D"e"c" iio"" AAig
440 24 AuglU 66 Jan
554 Mar SO Sep
31,620 SS'a Sep 28 684 Marl
56 Dec 81 4 Sep
21,350 164 Oct 12 36'8 Jan
413^ Aug
28 De
5,075 69 4 Oct 12 96 Feb
S934 Dec 98 4 Apr
100 85 J'lielO 964 Mar
90 May 93 Nov
5,850 204 AuglO 43'^sFebl
37 Dec 5434 Sep
10 100 Oct 14 128'8Jan
122 Jan [34 Feb
300 17 4 Oct 10 3 7 3^ .Tan 1
32 4 Nov 38 Sep
710 15 Sep 21 31'sJau
184Jau 334 Oct
1,250 24 Sep 29 4S Jan
36 Jan 4934 Sep
600 79 Oct 14 1224 Jan 2 107 Jan 129 Aug
155 J'ue 2 159 Jau 1 1564 Auti 59 4 Feb
17d",9"l"4
6534 Aug 8 104=8 Jan
93 4DPC LI 34 Aug
919 83 4 AuglO 95 4 Feb 1
StiOg Mar 95
Aug
10 Oct 14 22:'n Jan 13 20 Dec 2478 Oct
1,3U0 35 J'ly27 64 4 Jau
60 Dec 66 Nov
1,500 16»8 0ct 12 3234 Feb 27 2134 Jan 3808 Sep
15,526 27 4 Sop 28 554 Feb 24 37 Dec 54 4 Sep
200 12 J'ly24 27 4 Feb
17 Jan 304 Sep
6O0 41 Oct 1
62 Mfty22 49 4 Jan 66 Apr
200 20 Sep 26 384PeblO 28 Jau 4238 Sep
2,230 14 4 Oct 14 29 4 Feb 9 19 4 Jan 31 Aug
1,610 33 Novl3 55 4 Fob U 39 4 Jau 5738 Aug
L

2274 223 2274 219 226 Adams
29 8204 Jan 30 236 Feb 11 8198 J'ly 8240 Oct
374 39 4 374 384 374 394
malgamated Copper... 225,115 3308 Oct 15 768BMarl2 53 Nov 79 Feb
183* 194
18=8 19
1334 19
19
194
American Car & Foundry
7,550 1734 Oct 16 4134 Jan 19 284 Apr 3708Oct
•65
66 4 66^4
67 Si
654 664 66 4 66
654 65 4 65 4
Ho pref
2,376 614 Oct 14 93 Jan
86 4 Jau 9338 Oct
28
27 4 27 4 American Cotton Oil
314 314 314 314 304 31 7e a;26
31SJ 31Sj
2,019 264 Aug
464 Feb 20 30 4 Jan 5734 Apr
77 89 77 90
•80
•80
90
90
90
90
{85'8 ^o''b
Do pref
496 82 J'ly27 98 Feb 13 86 Feb 99 4 Apr
•23
23 28 20 25 American Dist. Telegraph
•24
•24
27
30
30
24
24
100 24 Nov 10 41 4 Jan
32 4 Jan 423e May
185 193 180 192 American Express
•186 192
lo7 187 518434 18434 180 192
150 171 AuglO 235 Feb _ 210 Jan 265 Aug
•6
'6
7->4
"54 734
•6»4
64 74 American Grass Twine
7
7
73«
74
100
6 J*ly29 •2938 Jan 7 27 Dec 624 Aug
•24 3
•24 3
3
3
i3
24 24 •24 3 Ajuer Hide & Leather...
140
•2Vi
24 Oct 30 114 Jan _
834 Dec 1334 Oct
•8
•8
•8
-9
8'« 12
•84 12
12
12
12
12
De pref
10 Oct
3738 Jan 6 34 Dec 434 Sep
6^8
6*8
64 64
64 6=8 American loe
64
64 63b
64 64
3,421
4 Oct
1134 Jan 9 4 J'ly 3178 Jaa
23
24
244 234 24
«22
224 224 •224 234 23
Do pref
2,325 164 Oct
«22
424 Jan 30 32 J'ly 67 Jan
•84 104 •84 10
9
9
9
«84 84 884 84 American Linseed
9
445
5 J'ly 25 1934 Jan
14 Dec 28 Apr
•26
•25
•26
•25
3U
30
30
80
8254 254 25
29
Do pref
20 25 J'ly 26 48 4 Jan . 39 4 Dec 68 Mlai
124 12 4
124 124 124 124 124 124 124 13 American lK>comotive...
1,100 104 Oct 15 3108 Feb 17 23 4 Dec 3678 Apr
12Hj 12 v,
7434
74
75
75
74
734 734 754 754 •744.
Do pref
T4
1,280 674 Oct 15 9534 Feb 17 89 Jan 1004 Apr
„
•3
•24 34 •234 34
34 American Malting
34 •3
34 •2
2 4 Mario
7 4 Maj
64Feb26
6 Jan
•17
•16
»16
*17
20
20
19
20
20
Do pref
100 144 Sep 28 24 4 Jan 10 21 Jan 29 Sep
19 Sj 19 Si •19
423* 42^8
42'8
414 42^8 42
424 *41»4 42 4 4238 42 4 Amer. Smelt'g <& Refin'g
42
4,600 3634 Oct 16 52^8 Feb 17 37 Nov 49<^Ma)
•86
•86
87
87
87
88
«87
87
864 863,
635 804 Oct 15 99 4 Feb 16 87 4 Nov 100 4J'n«
86 Si 87
Do pref
•90 110
•90 110
•90 110
•90 110 •100 110 American Snuff
•yo 110
90 Aug
126 Alar 4 404 Jan 135 Oct
80 90 8824 82 4 •80 90
•80
•80
90
90
•814 90
60 80 Sep 25 9838 Jan 20 85 Jan 101 Oct
Do pref
116 116% 114»8 11534 11441164 11441164 114081174 11638 1164 American Sugar Refining 36,865 1074 Oct 12 13438 Jan 8 113 Nov 136 4Hai
11841184 ni8 118
11941194 11934 11934
119 119 •119 120
600 116 Aug
Do pref
122 Feb 13 115 Jan 122 Aug
Amer. Teleph.
Teleg..
1174 Oct 8 169 Feb 18 I6034 Jan 186 Apr
'"1*20
•7', 10
•74 84 •74 734 American Woolen
•74 10
•74 10
74 74
7 4 Oct 19 1408Feb25
12 Dec 174Jan
•66
•66
•68
•66
72
•66
72
78
75
68
68
100 66 Oct 15 HO Jan 31 73 Apr 804 Sep
i66
Do pref
60 67 Anaconda Copper
•60
•60
64
67
65
66
63
65
866
66
490 58 Oct 23 1264Peb25 80 Dec 146 Feb
195 195
197 197 •190 199 Brooklyn Union Gas
•196 200
19641964 197 200
760 170 Sep 24 225 Jan 21 210 Jan 253 Aag
•6
•6
•6
7
•64 74
7
6
7
54 64 •5
200
6 Oct 15 15 4 Jan 29
runsw. Docktfe C.Imp't
7 78 Dec 14=8 Apr
•49
49 51
50
48
48
484 484 Buttenck Co
692 40 AuglO 55 Jan 6 41 J'ne 63 Sep
60
60Si •47
2534 28
264 27 C'lolorado Fuel* Iron... 4,582 25 Oct 13 824 Jan 6 7334 Aug 1104Apr
37»4 25JS
27
28^ 26
284 284 29
*
•
80
80
80 *
80 *
80
' Do
90 AuglO 122 Jan 3 8130 Jan °140 Mai
.... 80
pref
"*9 4 10
•9
-94 10
•94 10
10 CoL
J 60
94Novll 224 Feb 18 14 4 Jan 2478 Oct
94 94 "VcJ" 10
Hock. Coal <fc Iron.
177 177
177 178 5176 176 176 178 175 177 Consolidated Gas (N. Y.).
176 177
1,780 164 AuglO 222 Jan 7 206 Dec 23034 Apr
101 Continental Tobacco, pref
10134 101 »4 10141014 10141014 10141014 1014 1014 101
1.717 9434 Aug 6 119 Jan 2 114 Dec 1264J'ufl
23
224 2234 Corn Products
234 2308 234 234 24
24
23 4
3.060 22 Oct 12 36 Mar23 2634 Dec 3838 Mai
23 Si 2334
635 73 Oct 13 86 4 Jan 19 7908 Dec 90 Mar
76 "8 7618 754 754 74 S- 754 •724 754 734 734 734 734 Do pret
•22
23 Si }21»4 2184 •22
22 4
22
22% 2238 22
8224 224 Distillers Securif s Corp.
698 20 J'ly 24 3484 Jan 6 27 Dec 33 Deo
147 147
•147>< 150
148 148
148 149
148 148
800 136 Sep 28 204 Feb 16 0170 4 Oct 334 Apr
1464 1464 General Electric
1138 1138
1034 1034
10
104 104 104 lOOg 10
9 J'ly 28 19^8 Jan 6 16 4 Dec 230gMa(
1,800
•lOS 11
Iut-ernational Paper
61'4
<6134 613, •61
62
604 614
61
1,120 60 Oct 12 744 Feb 6 70 Dec 774 Jan
614 614 614
Do pref
eiv
"25
•25
•25
•26
•26
30
30
30
28
28
28 International Power
28 Oct 30 73 Jan 19 49 Dec 199 Apr
•30
•30
•30
•30
•29
32
30
32
32
32 Internat'l Steam Pump..
30 Nov 6 464 May 8 40 Dec 574 Mat
32
'•68
•68
•68
•68
•68
•68
76
75
75
75
70 Oct 12 89 4 Jan 12 82 Dec 95 Oct
75
75
Do pref
•6
•64 9
•64 9
9
7
64 9 Manhattan Beach
200
64 Sep 28 13 Mayl3
64 64
9 Oct 19 Apr
-esi
•34
•34
344 3434 National Biscuit
35
•344 364 •34'^ 3538 3434 3434
615 32 Oct 15 4708Febl7 40 Nov 534 Mai
36
•96 14 100
•964 100
690 94 Oct 16 10678 Mayll 10134 Dec 109 4 Apr
98
984 974 974 984 984 964101
Do pref
•12
•114 14
•11 Si 13
12
12
12
60O 11 4 Oct 15 29 4 Feb 5 15 4 Jan 32 Sep
14
114 114 12
National Lead
•76
•76
76
78
80
80
325 75 Oct 15 95 ifeblO 78 4 Jan 96 Oct
•76 "4 80
80
78
380
76
Do pref
• 115
•115 123
115 122 •115 122
121
105 Oct 12 177 Jan 2 148 Mar 196 Apr
115 122 •118 122
New York Air Brake
•70
•70
7134 7134 }714 714
70
7134 North American Co., new
500 6S Sep 28 1244Jaii 7 88 Jan 134 Sep
75
75
704 68
23
25
25
21
2,330 17 Aug 5 4234 Jan 7 37 Nov 4938 Mai
21
21
274 234 234 23
•20Si 22
Pacific Mail
9334 94
3,360 8734 Sep 28 10838 Feb 10 984 Jan 1094 Sep
934 9334
934 9334 934 9378 29134 924
93 Si 94
eop. Gas-L.dfc C. (Chic.)
26'4 27 14 z25 4 26
26 4 26
25 4 25 4
254 264 26
264 Pressed Steel Car
3,890 25 4 Nov 10 6534 Jan 26 39 Jan 63 4 Oct
•66
66 4 68
340 6634 Nov 6 95 Feb 20 8234 Feb 964 Oct
67
67
67
68
674 674 866^8 66'8 68
Do pref
210 215 Pullman Company
216 215 210 217
215 218 '215 218
205 196 J'ly 15 23534 Jan 14 215 Jan 250 Apr
•*a5 218
•17
17 20 •17 20 17 20
•17
16 Sep 25 37 Feb 9 24 Apr 38 4 Sep
20
17
20
20
ail way Steel Spring...
•73
•73
•74
•734 754 73
•73
t>
76
75
74
400 72 Oct 13 90 Feb 2
76
76
VDo pref
80 Apr 904 Oct
678
64Novll 2208 Feb 18 150g Jan 2434 Sep
7
7
678 Republic Iron & Steel ...
1,650
7
64 7
64 634
74
49
484 494
48<^ 50Si
50
10,980 48 Nov 6 8038 Feb 18 68 Jan 8338 Sep
48^ 494 484 494 484 49
Do pref
•14
1434
1334 1434 81334 1334
930 12 J'ly 25 30 Feb 16 174 Eeb 2538 Apr
14
134 137e *13 4 144 Rubber Gooila Mf g
14
•65
•68
70
570 60 J'ly 25 844 Feb 17 63 J'ly 74^8 Mai
70
75
70
70
684 684 684 684
870
Do pref
•23
23 4 25
300 224 Oct 15 72 Feb 25 29 4 Jan 83 Sep
24
23
25
244 •234 25
23
loss-Sheffield St. & Iron
•68
68
100 68 Oct 12 974 Feb 18 80 4 May 95 4 Sep
68 S Do pref
'""•34'
'•34
•»4
•••4
34 Sep 19
838 Apr
120
64Febll
4 Jan
1
«1
Standard Rope <fe Twine..
-8
""'fl
2618 2734
27^8 Tenn. Coal, Iron & RR... 10,210 25 's Nov 10 6838 Mar21 49 4 Dec 7409 Apr
2658 27>4
25'8 27
264 28
264 274 27
25 27 Texas Pacific Land Trust
•26
•26 Si 28
•254 28
2738 2738 25
200 22 AuglO 4034 Jan 7 35 Jan 444 Fek
28
28
6
410
4 4 J'ly 25 15 Jan 19 11 4 Nov 184 Apr
6^9
5
5
6
5H
Union Bag<fc Paper
65 Oct 13 7934 Jan 8 72 Jan 85 Apr
Do pref
6 Sep 3 15 Feb 20 10 4 May 17 Oct
U. S. Cast 1. Pipe & Foun.
50 33 Nov 6 55 Feb 25 42 May 59 Sep
32
?32
Do pref
88 95 Aug 8 .504 Feb 4 97 Jan 160 Aug
nOO 106 •10(» 106 103 103 •100 103 100 103 810141014 United States Express...
•714
7
6 Sep 28 16 •4 Feb 11 104 Dec 154 Sep
.
738
7
3,590
74
7
7
74 74 „'^'* 74
United States Leather
7Si
•754 75^8 7534 753, 764 764 754 754 75
1,475 71 4 Oct 15 9634 Mayl2 7978 Jan 91 4 Sep
754 7434 7434
Do pref
•4 '8
•4»4
4»4
4^8
4»8
434
44 44 U S Realty&Construction 1,437 44N0VI2 28 4 Jan 2 20 Nov 32 Oct
6
54
44 40e
33
344
10,658 304 Nov 11 73 Jan 2 644 Nov 754 Oct
34
36
304 3234 314 32
314 324
84
35
Do pref
1909 Oct
•834
•8
610
7 J'ly 27 19 4 Feb 10 14 Jan
-8^ 9*4
8
8
8 United States Rubber
94 •S4 94
8
84
•36
•354 364 36
100 304 J'ly 27 58 Feb 10 494 Dec 64 Mai
•35
40
36
38
354 40
Do pref
354 40
1038
1038 1138
10
104 10»8 104 10*^ 104 10^8 United States Steel
llSf,
148,808 10 NovlO 3979 Feb 5 2934 Dec 4634 Jan
i 10^8
5034 524
4934 514
53^6
669,620 4934 NovlO 8934 Jan 7 79 Dec 9734 Jan
504 53
6O34 624
51% 5238
62
Do pref
I
•19
•19
20
19
19
19
20
19
20
20
Virginia-CaroUna Chem
1,540 17 4 Sep 28 6608 Feb 19 64 Dec 7638 Apr
184 19
•85
'•86>« 88
90
100 80 Aug 4 1284 Feb 18 120 Dec 13478 Sep
88
864 884 864 864 86
85
88
Do pref
•223 226 «223 224
35 Si 3G»4
364 "37
li>

•223
oS

19 Si

IS34

2274

'223

3834

19 4
65 4

.,

.,

,

,

,

<fc

<fc

'

:

,

'

7|

.

!

-le

•16

20

16

20

20

16

20

820

20

Virginia Iron Coal <& Coke

60

Vulcan Detinning

k

•200
83
135
•162

'•800 236
•4
82^8 83

135 136
•162 >3

'

220
83
136
168

•195
83
133 1344 135
166
1624168

200

82<Ib

200
83

196
8338

135
166

8234

210

•196

205

813441344
•1624

170

8234

Do pref
Wells, Far^o

&

170

J'ly 22

70

100

Co...

Union Tele'gpli
13441364 West'gh'seElt&Mfgaesen
88234

8234

Sep 28 39^8 Feb 25
3334 Jan 9 294 Nov 33 4 Nov
Sep 14 81 Jan 19 784 Oct 81 4 Deo
8191 J'ly 14 249 4 Feb 6 8185 Jan 8256 Aug
804 Sep 28 93 Jan 14 8434 J'ly 97 4 Aug
130 Oct 13 221 Jan 7 169 4 Jan 233 Sep
160 Sep 19 224 Jan 7 180 Jan 234 Apr
17
23

est'n

Do Istpref

1,525
1,755

200

BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Sid
Baaka
Bid Atle
Banks
VarickH
BEOOtCLYN
170 200
Wash-H'htsf 200
Manufactrs'. 325
WeetSldelj.. 525
YorkTllle'j

..

375

BBOOELTN

Mechanicsfl . 210
Merchants'.. 115

Nassau
Nat City
North Sidell

Atk

TruM

Cos.

Bid

Ask

Trust Go's

Bid

Ask

W. r. CITY

220

360
305 315
215
People'sli
215
17th Wardll. 140
Sprague
2104

Bankers' Tr. 270
Bowl'gGreen 195
BroadwayTr. 145
C'lR'tyB&'lV 400
Central Tr'8t 1900
City Trust.

Exchange Tr
Farm Lo&Tr)
Fifth Ave Tr
156
Guaranty Tr
Guardian Tr
2200

290
205

1350 1425
530
675 690
155

165

Trust Go's Bid Ask Trust Co's Bid Atk
200 220
MortonTmst 850 880 Windsor
Mut.Aliiance 225 250
N Y Life&Tr 1000 1100
1200
N YSec&Tr
North Amer. 250 260
Real Kst Tr't 390 410
StandardTr't 310 340
Tr Co of Am t224
Union Trust 1350 1450
USMtg&Tr 400 440
Unit States 1450
Van N'denTr 200 205
Washington. 400

BBOOKI-rS
Brooklyn Tr 375
190
Flatbusli
Franklin
300
Hamilton
400
Kings Co

200
365

Knick'rb'k'r 870 890
310
Lincoln Tr... 360 370
300 325
290
L Isl L<fcTr.
Commonw'th 60
McV'ck'rRty 225 235
70
Nassau
250
Broad wayi;.. 300
Continental 650
Manhattan .. 500
350 375
People'8
Brooklyn'. .. 135
Eastern Tr.. 130 150
Mercantile .. 1000 1050
Stuyv'tHUI 176
Williams b'g. 250 270
Con'yI&BB' 140
Empire Stale 150
Merchants'.. 220 240
Unlonll
150
rirst
390 400
Wallaboutl
Eqvu table Tr 675 690
Metropolitan 560 .585
120
• Bid and asked prices; no sales on this day.
8 Less than loo shares,
(i J. P. .\lorgan & Co. certuicatos.
t Ex rights,
1 Sale at Stock Ezchanse or at aaetioa ttus week.
Banks marked with a paragraph (^) are State banks
Be stock dividead. t Trust Oo. oertlficites.

Atlantic H... 105
Borough'i
125

.

Colonial

.

.

'i

New York

Stock

Exchange— Bond

aosos

Price

STOCK EXCHANGE
Wkkk En-dino Kov 13

Friilaii

N. T.

yov 13
Ask

Jiia

U. !*. tJovemineut
l'.»30
28 ooDsol reiiistereil.rflS
(ilVw
2s oousul uuupuu
small. .(lU*o
2s oousol reg
2s cvusolouupsuiuU. (11^13
fclttl
3s re^isloreil
fcll'l
38 0oupuu
small boatls..i;191
3s reg
3s oou siimll boutls.\^'191
A190
4» regislortHl
/ill>0
is coupon
ll>2
48 r«Ki8tored

D8
US
US

U
V
TJ
V

S
S

U
U

S
S
S
S

tJ

S

V
V
U
D

S

106-\ 107

108»< 10778

108

I2

High

106»4
106».
107^4 Oct '03

107

107
107

50

1904

......19U4

135 sj 135

134's
101 1*
101>«

136^ 13514001

14

Oct

1

09

'4

iot.ri.jio9s
109 112'.

U

134>-..

108»4

lOOSillO

11034 1U»-^
2 "4 Nov'03
110^4 lllSi 1103< Oct '03

IO9I4 112
134 '4 136

'03
"03

-a

13.1I4

137 1.J
01 S. 101 la
lOlSg 1033b

Vj Aug' 03
101 14 Nov'03

101

1

ForeiHU Uovemiiieiit
.BVaukiurt-ou-Mtiiu

V

a'-is

93
on the ba
94

ser 1.. .M-S

These are price
S ot Mexico s t g us o( 18UU

s

3 /lest

....

are pr

9513 Feb '02
tour marks

98
ices

to o

Apr '03
n the U

iMicurities

!!>tuie

Aiabaum

sis ol

A

1900

4 U> u

ne do liar.
i)6^ 9H»B
0/ $5 to je.

10438 Sep -02

1901;

class

Class B-5s
Class C 4s

109 14 Oct '00
102i3Mar'02

lyOO

192t)
Currency CuuiUug 48
1924
Blst u( Columbia 3-658
Louisiaua uew cousol 4S..1914
Small
l£>M-199i>
Missouri tuiiiliuf;
North Carolina consol 48.191U
19iy
68
1933
So Carolina 4 Sjs 20-40
Tenn uew settlement 3s. .1913

FA
JJ

11 1

Mar'02

121
106

120

Mar '03
Apr '03

121

106

121
106

109i-jFet)'99

J-J
J-J

102 "4.

104

A-O

120

KailroaU
Alabama Cent See So Ry
laba Midi Hee Sav Fla &
Albany ife basq Hee Del & Unci
Aileglieuy Valley Hee Penu KB
Ailcg & West aee Bull K <fc t
Aju Dock <k Im Hee Cent ol N J
A1995 Q-J
Aim Arbor Istg 48
Atch T & a Fe gen g 48... 11195 A-O
lyyi: A-O
KegisusreU
Adjustment g 48
A19y5 Nov
Kegistered
^1995 Nov
Stamped
/il995 M-N
due <& St Ixiuis l8t 6s. .1915 M-S

95

951a

95
97

'01

10

94

97

931a 94I4

93 la Oct '03
96
95

96

6^ Oct '03

6)4

96
12

W

AU Jinoxite

Nor

let gos.. 1946
Atlantic Cuaat Ist g 48./i'l!:'52

& Dauv iiee South Ky
See South Ky
N W See Sou f aoillc

AtLuitio

JO

MS

91

92=8

99^8 Sale

Sei^Sale

86 Ha sale
109
91 >9 Sale

92 Ja
99'8

99
86
76
86

9234

91
96^4
9713 10278
97 102»8

lOOH, 149

Oct

'03

87

16

36

92»4

75
84

75

62

J'ly '03

87

1141a Oct '02
91»9
92 304

92^4

891a 96

AUauUc <& Yadk

Aaatin <fe
S See
Bat Creek <&prior IgMich Cent
3138.1925
alt<& Ohio
Begistored
A1926
/il948
Gold 4s
KegiStered
„A1948
Oonv deb 4a
1911
P Jan <Ss M DiT l8t g Si<2Sl925
Begistered
pl925
Va Sys ret 481941
PLK&
SooUiw Diy I8tg3>a8...192u

W

Registered

J-J

95

ti-J

A-O 100<^S»le
y-j

M-S
M-N

M-N
J-J

•37

Cen

7i.l925

B««oh Creek SeeN

Y

C& B.

89
89

84 4 Sale
SS^tSale

Uouon Kit

1st gu g 58..19iy
Ohio K Ist Cg4>2a..l930

95><>

u-s 109

96

9Sia

9412 Jan '03
IOOI4 100<>8
9934 Oct '06

9m
94

21

97

94I2

99i4l03»3
98»4l02<%
97 106
91
88

67

99 »4 NoT'03
88 Aiig'03

94

94it2

97 12
94
86 "a 90^4

88I4
88a4
9014 J'ly '02
II4I4 J'ne'02
lioia 1093* Oct '03

109*410934

BMleT & Car See Illinois Cent
Bfclyn <fe Montauk See Liong 1
Bmns <fc Weet see Sav Fl <fc W

a Y&

Erie See Ene
R dis f gen g 6s.. .1937
A11& West Istg 4s gu.. 1998
1943
Ci & Mah l8t gu g 58
Boch <fe Pitts l8t g 68. ..1921
Consol 1st g 68
1922
BnSalo db Southwest See Erie
Buff <& Susq 1st ret g 48.^1951
Battalo
BBJEalo

^1951

Begifltered

K No let 58.1906
l8l & col truatgas.. 1934

Bar Cedar
Con

<S>

1934

Registered

CB I F&NWlatgu 58.1921

M

<fe

St

Canada

li

1st

gu g 78

192
1908
1913
1913

South Ist 58

2d 58

Registered

M-S
A-O

IM lUH 114

J.J

110
103 Apr'97
124i4J'ne'03
123
122>6i27' 122ieNoT'03

FA
J-D
J-J
J-J
J-D
A-O
A-O

A-O
J-D

103

104

112

124 14 128
122 »8 12538

J'ne'02
10034 105

120

<&

122

1201a 12013

lO*"*.

106 >«.

104 Is
1057g

I05>a.

107

IO6I3
104i3l08''8
1041a 107

102

1041a
105^8

Ang'03

See lU Cent
Carolina Cent &<« Scab <& Roan

C»rb

nsia

.

M-b
M-S

Shawn

114H

103J4l04'« 103i4 0ot'03
121 Apr'03
1201a Mar'03
107 .
118 Jan '02

J-J

SeeitYC&U.
CedRfaF<feN 6'««BCB<&N
Cen Branch U P Ist g 48. .1948 J-D 89
Cen Branch Ry See Mo Pao
Central Ohio See Baiti & Ohio
Cen RR B of Ga col g 08 1937
100 107
C«rthage<feAd

.

<fc

Cent of Ga RR iBt g 58..P1945 F-A
Registered
3jl945 F-A
Consol gold 5s
1945 M-W
Registered
1945
Istpref mcomeg 6s
pl945 Oct
2d prel income g 58
pl945 Oct
3d pref income g 53
pl945 Oct
Chatt Div pur mon g 48.1951 J-D
Mac<fe NorDivlstg 58.1946 J-J
Mid Ga & Atl Div 58
1947 J.J
MobUe Div 1st g 5s
1946 J-J
Cent oJ N J gen'l gold 53.1987 J-J
Registered
;il987

MM

Am Dock & Imp ^n 5s. .1921

118
10334 Sale

61
*25
16

Sale

27
Sale

103 >9.
108

.

1041a,
.130
123'
110»4,

92

92

J'ne'03

9414

1041a Jay '03
1221a Jan '03

1041a 108»4

10334
1041a
1051a Sep '01
61
61

102

109

61
23
16

80

122412213

'03

27 Oct
161-,
16
92 Aug'02
IO8I4 Sep '02
102 J'ne'99
103 J'ly '03
1291a 12934
I28I2
128
109 Aug-OS

Con ext guar

4'-jm

1/1910

JS'ot

3978

27

January X

HijfM

Ao Low High

lOOi-.,

Aug'03

lOO'g

Ask

Jita

/iang*
Since

Week's
Jiange or
Last sale

IS

lOO's

100 la 104
100 102>a

L<rte

J-J

M-N
Q-M

Hr
NY* bong See genPacillo Co M-S
g 48 1941
So
PnciUc

97*3
lOlHi 101^

Cent
Charles

<te Sav 1st g 7s.... 1936 J-J
Chesifc 01iiog68ser A../1190S A-O
0I91I A-O
Gold 6s
1939 M-N
l8t consol K 58

1939
Registered
1992
General gold 4138
1992
Registered
Craig VaUey let g 58.. ..1940

106^4 ....
lloi3J'iy'03
10934 I10»a llOiaAug'Oo
114 Sale 114
lU"-^
11 2 'g

M-N
M-S
M-S

J-J
R<fc A Div lBtoong4s..l989 J-J
1989 J-J
2d consol g48
Warm Spr Val Ist k53..1941
Greenbrier Ky l8tgug48 '40 M-N
Chic <fe Alt KK ref g 3s... 1949 A-O
1949
KegiStered
Railway Ist lien 3138. ..1950 J-J
1950 J-J
KegiStered
Chic B & Q— Ch A laD 58 1905 FA
1922 FA
Denver Div 48
1949 J-J
Illinois Div 3138
1949 J-J
Registered
Div sink fund 6s. .1919 A-O
Iowa
1919 A-O
Sinking fund 4s
Nebraska Extension 48.1927 M-N
1927 M-N
Registered
1921
Southwestern Div 4s
Jouit bonds See Great North
1913 M-N
Debenture 5s
Uan <fe St Job consol 63. .1911
ChJCife E lU iBts f cur 6s. 1907 J-D
1934 A-O
l8t consol g 6s
1937 M-N
General consol Ist 68
1937 M-N
Registered
Chio <fc Ind C Ky Ist 58.1936 J-J
Chicago <& Erie See Erie
Chic In & IjOuIsv ref 6s. ..1947
1947
Refunding gold58
Douisv N A & Ch Ist 68.1910
Chic Mil & St Paul con 78 1905
1914
Terminal gold 58
General g 48 series A..el989 J-J
«1989
Registered
Gtoneral g 3»a8 series B.el989
«1989 J-J
Registered
1921 J-J
OilcA L.SuDivg68
Chic & Mo Riv Div 58... 1926 J-J
1910 J-J
Chic & Pac Div 68
1921 J-J
I8tg5s
Chicfe P
1916 J-J
Dak<fe GtSog58
1924 J-J
Var & Sou aissu g 68
1910 J-J
Hast& D Div 1st 78
1910 J-J
I8t68
1908 J-J
I& D Exten l8t7s
LaCro8ae& D let 58....1919 J-J
1910 J-J
Mineral Point Div 68
1910 J-J
So Minn Div let 6s
1909 J-J
Southwest Div Ist 68
1921 J-J
Wiflife Minn Div g 58
MU<feJNol8tM 1,68.. ..1910 J-D
1913 J-D
consol 68
l8t
1916
Ohio <fe Northw cons 7s
Extenaion 48
1886-1926 F-A
1886-1926
Begistered
1987 M-N
General gold 3ia8
Begistered
.pl987 q-v
Sinking fund 6e...l879-192S A-O
1879-1929 A-O
Registered
Sinkmg fxind 68.. .1879-1929 A-O
1879-1929 A-O
Registered.
1909 M-N
Debentore 58..
Registered
1909 M-N
1921 A-O
Debenture 5s
Registered
1921 A-O
1933 M-N
Sinking fund deb 68
1933 M-N
Registered
Des MOife Minn Ist 78.. 1907 F-A
MUwdfc Madison Ist 6s.. 1906 M-S
1910 M-S
North Illinois 1st 5s
Ott C F & St Paul 1st 68 1909 M-S
Winona & St Pet 2d 78.. 1907 M-N
Mil L 8 & West Ist g 68 1921 M-N
Ext & Imp 8 fund g 68 1929 F-A
Ashland Div 1st g 68.. 1926 M-S
1924 J-J
Mich Div lstg6s
Convertible deb 68
1907 F-A
1911 M-N
Incomes
Bock Isl & Pac 68. ..1917 J-J
Chic
Registered
1917 J-J
General gold 48
1988 J-J
Registered
1988 J-J
CoU trust Series B 4s. ..1904 M-N
H48
1910 M-N

101

la

MS

.

8I34
7213
8334
10434

J-J
J-J
J-J

V

112" ilV,

9913

9/14104^.

'03
'02

92

98

8238 153

7934

8314

35

70^4

7»>»

73'-.

Apr '02
Apr '00

:

M

100
9618.

yS'sOot '03
9534
95

981a 101 •*
89 13 97 ,

10838.
100»8
10539.

looigAug'oa
1 0034 Nov'03
105i4NoY'03
lOyiaAug'Ol

109iel09i»
10034 1 04 1»
102 la 108 >«

.

.

99

100

104 106
1131311413

J'ly '03

IO5I4

IO6I4
Oct '03

1

14

128
115

106»8Oct '03
12938 ocr '03
....
116 11534 116
11513 120 Dec '02

113

....

10713....

111

126 13 128
108

113

121«Bi

111

'03

120^

12414 13<W»,

108

IIOI4

109

10434

11434 ...
117 ...
11134...
116 1161a

iim...

I29I4...
118»8...
106»e...

11838
106«8
112*3
11113
11638
118

166
111

lU

109 Aug'03
137iaJ'ly'99
116 Aug'03
107*8 Aug'02
183 Feb '03
11338 Oct '06
106 14 J'ly '03

111**

11334 118«fi

111
112
109
116

119IU

117Ja(

11234 ii&ii

106^1""

110*3
1097b
112
113

116
130
101

11

lis
117
llSyJ

11^

i»4ri

IMA

vs

961a

113 112
llO'sllO'*
106 ]09>«
10634 1 07 1»
10378109
104 104
106iall*ii
*»•(

106
106
104 Sep '03
108i4Sep'03
114 Oct '01
1141a Aug'03
123 May'Ol

112 *s.

llS^isi

iss" isSd

IO8I4 IO8I2
10634 Mar'03

109

A-O
J-J

J-J

M-N

FA
FA
J-J

100

9934

114>all8^

107 14.
102»4

106 NoT'02
108 Oct '02
105«8May'03
114 Oct '03
128i2Sep'03

.

105 1».
110«8.
12739.
118<%.
13114.

11814

102

.

125 18
*124i8

103

Sale

lll'>8ll&^
127i»132''w

II8I4

142 la Feb '02
1817b 13178
107 Is Feb '01
109 Sep '03
12413 Ocf '03
122 Oct '03
103
IO312
107 Jan '03
98 Aug'03

131«fe.

106«|,106Si

114ial26
128<%13»>»

109 109
121i4l27>»
120*3 127

97

99
107
98

9978 J'no'02
99iiJ'ly'02
9938J'ne'02

Aug'03
73 374
8Si4Jan'03
87

7113 Sale

71

73

72
73 361
95i4Oct'03
90 Oct '03

Sale

94=8

91
94«8

9434

A-O IO4I2

,

8213 95
68«8 89
88I4 88%
69*3 89^
9514 98V,

>

-:

90

93

9434

Jan '03

9434.

90
95

A-O

Oct

99»4 IO713

106
98
94

110

102*2
104*4
891-2
81
Sola 85*2

90

'03

9013

J'ne'OO

Ii & Pitta
See Penn Co
P M & O eon 6s.. .1930
Ch St P & Minn lstg6s 1918
Nor Wisconsin Ist 6s. ..1930
St P <fe S City Ist g 68. ..1919

104i3l08i»

J-D 13314136

133isNov'0S

M-N 12818

128% 136^

13014

I3014

J-J

126
121
75

13014137
126 126
121 ia6<V
71Ja 86

A-O

Chicago Ter Trans g 4a. ..1947 J-J

13018
1201a
7513

;

Sep '03
Oct 'OS

.:

75

•

103

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

J-D

109
111
113

•.*2(«prt«eimdar; ial«stpnc« ttU8w«eK.

Nov'Ol

aJDneJaa

MU El Ry & L

30-yr g 58.1926
-Minn St Ry Ist con g 08.. 1919
St Jo Ry Lt
1st g 5s. 1937
St Paul City Cab con g 5s. 1937
Union El (Chic) 1st g os..l945

H&P

A-O
M-S 111
M-S 113
J-J
J-J

95

115
Sale

119

FA
FA
J-J

89

10513.

IIOI4I2O
110 11715

d One Apr

112
116
93
118

Aug'03
Oct '03
JIy'03

95
Oct '03
96i2 0ct '113
106 Oct '99
110 J'ne'02
109*4

J-J

76
7d»8 Sale

84%J'ne'03
99

U Gas

l.st

con g 68.1945

,

121*4^,

98Vi
'

ifl-N

1121a.

II213

109*4 iia

90

75

'

'8(«t;

84

Dec '97

Gas and Electric LJKht
G L Co 1st g 5s.. .1947 J-D

Bklyn

961*1

121

[116 122
9414 1021*'

Apr'03

109i3DfcC'99
76*3
7634

Atlanta

«X>ae.Mar gOuoJ'no HDaaj'lj

89
112
116
42 91

M-N

W

Mar'98

llOiaOct'OS
11334 11334 Nov'03

Jstreet Railway
Met St Ry—f Con; Ref g 4s2002
C0I& 9th Av 1st gu g 58.1993
Lex Av & P F 1st gu g 5s 1993
Third Ave BR con gu 4s 2000
Third Ave Ry Ist g 5s. .1937
Met W S El (Chic) I8tg4s.l938

•1

A-O
United RRs San Frsf 48.1927 A-O
United Rys St L 1st g 43.1934 J-J
Chic St 40-yT cons g 58.1936 M-N

J-J

J-J
J-J

:

10413 Nov'03

Chic&StL SeeAtchT&SaFe
Chic St L
N O See 111 Cent
Chic St
Chic St

103
I26I4I34
rz534l33i3
1081411313
103

J-D
J-J

:

108 :J
107 1
98-^

<fe

100

110 Jan '99
108
108 Oct '03
98 100 100i3Sep'03
97 13 Sale
97 13
98
81
81
81
S3
85 la Jan '03

i

,

l>U&»C£L.LuAN£OUS BONDs»-CoiUiiiuea on Next FageStreet Railway
Brooklyn Rap Tr g 5s
1945
All Av BliJyn imp g 58..1934
BkCitylstoon 58.1916, 1941
Bk y Co <fc S con gu g 58-1941
Bklyn Un El Ist g 4-53.1950
Kings Co El 1st g 4s
1949
Nassau Elec gu g 4s
1951
City <fe S Ry Bait 1st g 5s. 1922
ConnRy& Llst<fe ref g4i2S '51
Den Con Tr Co Ist g 58.. .1933
Den Tram Co con g 6s. .1910
Mel Ry Co 1st gu g 6s. .1911
Det Cit St By Ist con g 58.1905
Gr Kapids Ry Ist g 5s...ol91b
Iionis By Co Ist con g 5s. .1930
Market St C Ry 1st g 6s. .1913
Met St Ry gen col tr g 58.1997
Btray <fe 7th Av 1st c fr OS 194c,

i

H6i3llft»J

liO^MayOS

10838
»106ia
104 106

,

lit

II6I3 Apr'03
117 Is Nov'03
111 Hi Sep '03
116i« 1161*

104i3May'o3
10638 Oct '02
9934 Oct '03
103 Nov'98
112 M»y'03

100

11»-

Jaa '02

114 '8 Oct '03
113 Oct '03
116 J'ly '03
130i« 130»8

130^4

178

103

11234 Oct 'OS?
109'8 Axig'03

117 14 130

113i»

10ffialll3».

1

168

•

lOO^a

108 J'ly '03
10 H Nov'03
167 Oct '03
111 May 03
110
110
111 Dec '02

IIOI3

98

Sep

100

16 10408108
113 117%
105 110*
127 136>^

12513 Oct '03

FA

M-N
M-N
M-N
M-N
MN
M-S

llOialia
11013114
30 114 119
Uvi7ell6>»
90 100 14 106H.

May '03
"a

Oct
1061), Oct

.

7 3 14 Sale

W

1915
1916
1918
Chic R I & Pac RB 48.. 2002
Eeeistered
2002
Con trust gold 68
1913
Des M & Ft D Ist 48.. ..1905
Ist 2133
1905
Extension 4s
1905
Keok & Des M Ist 58
1923

Apr'Ol

8238 Sale

AO

M4B
N 4s
P48

lOli-j

103
112
99
92

.

*9y>a.

93
103

Oct 03

101*4

Sale

107

MS

Mar'OU
951-i

I'riM

frtdav

MS

NoT'02

13613 J'ly

J-J

J-J
Small
J-J
Virginia luud debt 2-38. ..1991 J-J
Begi8t«reU
J-J
68 deterred Brown Bros otts.

^^

BONUS

STOCK EXCHANGE
Jaiiiiarv 1
WSKK ENDINH Nov 13
Low High Central of N J—(Continued)
Le * Hud R gen gug58 1920
1116
109 la
Deh A Wilks B Coal 68..1912
N. Y.

Since

IO634

107^8
108
J'ne'O

Weekly and Yearly

I'AtJES

Range

106

107
10938 Oct'Oo

106 S

1'.'-'.

S 5s reeislereU
8 5s ooupuu

hovi

li>6=»

n

8 4sooupou

Week's
Jianpe or
Last Sale

Record, Friday,
KOUK

OCCL'l'YlMJ

112*3

111112*411?"'

kDitoAxtt 9X>aeNoT gOueDec «Option aatoj

1862

Bond Record— Continued— Page
BONDS

Price

Hee/Cj

Friday
IsovlS

STOCK KXCHAXGE
Wekk EXDLNv. Xov 13

X. Y.

Kange or

Bid

Wost Iml sen cGs 91932
ifc West .M:ch Ry 53..1i>-21

Clue

.6

Otilc

Choc ok
Cin

il it

iV:

D

It ireu

os

jr

cuusol s

r

...oli'li'

nD

-M

O

UKST J-J

D& 1 l8t sru 53.. .19-11
L A O J>y< C C C & SI L
Cin SAC *V» C C
St
Clcarnelil
Mah dVc B H A F
Cleveiauil Cm Chic A St Lotus
Ciu

C

Atk Low

in

It

Sa le

102'%....

iio"

1

ib7"i09""

lllVjTlec'Ol
113 Oct '00
111'* Sep '03

""

BONOS

lll'4ll6

St

I

ifc

W

WW

J-O
J-J

JJ
M-N
M-N
.MS
J-J

96 <s Sale
97

90!%
gG^*
101 Hi Oct '02

97»8....
99 lOOVt

;i.'i'j

Dec '02

94>sAug'03

Q-F

fcl9o0
CI con I8lg5s..l9-.'S J-J

112<fe.

.

99

ReKistereil

Cin S

A

CCC

ifc I con80l73
1914
Consolsluk lumlVs
1914
General cousol gold 6s. 1934
Rejri3tere»l
1934
Iml Bl A NV Ist pret 4s. 1940
O Iml A
l3t pf 5s...la93SPeoA East Ist cou 4s. ..1940
Income 4s
1990
Lor A \V"h con 1st r os. 1933
Clev A ilarietia iiV'fPeuiiKR
Clev A -Mahou Val g os...l93S
RegistereU
1938
Clev A Pitts Ste Penn Co
1947
Col -MiiUaml Ist g 43
Coloratlo A Sou 1st g48...1929
Colum A Ureenv i'w So Rt
Col A Hock Val See Hock Val

W

a

lllOsSep'OS

J-D 123 H2.
J-D
J-J
J-J

129

J

A-O

60Vj

Apr
A O 108»8
J-J

A K V l3textg48..1948
Houst E A W Tex See So Pac
Houst A Tex Cen See So Pac Co

93
55
109

1

116

....

128

62

61

Oct

109

62
85

'03

100
82
110>4

J-ne-OS

Q-J

J-J

FA

**>••

86 >« Sale

62

86

6
14

62
82

80^8

94 4

Conn A Term iiee ^J A W
Conn A Pas Rivs 1st g 48. 1943 A-O
Gt So
Dak A A Waco6Ve CM A St P
See M K A T
alias

2000
AW 5a. 63.. .1921
Construction
1923

l8trelgug3Hj8
1st
Lack

NY

MS
AO
AO
MN

Dea M A Minn See Cti A X W
Des Moi Un Ry Ist g 58..1917 M-N
Det M A Tol ieeLSAMSo
Det A Mack Ist Hen g 43.1995
1995
Gold 43
1951
Det Sou 1st g 48
Ohio Sou Div 1st g 4s. ..1941
DtilA Iron Range Ist 58.. 1937
Registered
2d 63
Dill

So Shore

A

J-D
J-D
J-D

MS

A-O

106»4

1294

129141334

Ang'03
Oct '98

13041344

1294 1294
109% Sep '03

.

101^4 Sep '03

12634 1314
10834 115
10134 103

.

1084Oct' 03

108411338

Feb'03
1364J'ly'03
149 Aug'Ol

102
\'36

102
13718

107i8Nov'0i122 J'ue'99
105^4 J'ne'03
11138 Feb '02
14334 Nov'02

107

IIII4

102

'.

.

io434

i4o^

105i4l05>4

147 4J'ne'02

99^ 99

99

9934

28

106=8 May'03

105"'

iof"

104

36

Sale

36

Oct

27

971a

1004J'ly'03
924 Oct '03
754 Aue'03

94

864

86^2 Sale

108 >«

1144

93I4

91

SO

YA

W

'03

1144

lllSsllo

112

.

115

Got '03

1124115

M-N
.MS

114
111

May'03
Oct '03
Aug' 03

114
111
112

A-O

Ill's.
111'%.
110«8.
Ill's.

J-D

102'>8.

101^6 J'ne'03
134 J'ly'03

MS

MS
MS
J-J
J-J
J-J
J-J

FA
J-D

See

130

112
117

.

83'% Sale
S9'i

127>8

A T H 1st cons 68.1921
1942
Istgenerai gold 58
Ist gold 68.. 1923
Bull Co Brand! Ist g 58.1930
St A Ind lat con Kug68..1926
Fargo A So See Ch M A St P
.See Pere Mar
lint A Pere
Mt Vernon

112

lOl'elOl^g
132 4139
130 135

Aug'03

9818
98 4
97 May'03
83 "4
8334

9534

9934

97

9«
88

794

Gas

1st

Ch G L A C Co

108

114
109
110
108
99
100
108

130

1214
134 4

11334 Dec'02

II314II.

11534

105

.

109^4 111
108'4....

98
102
110

....
.

....

107 «4.

10734

llSi^

A
A-O
A-O

100

J-J

106

gos

il2 4i'l4

no 1124
108

11684

108

Oct '03

106

107

100

107

J'ne'02

107

1224

116
100

11 634

100

117

1074112

10734

112

103

114

9734 103
99 loesg

654

72

95

97

74

74

J'ne'03

79 'e

FA

EdElIUBkn SeeKCoELAP
111 See N Y G A E L H A P
y Ist con g5»..193'J M-S
Eq G A En el See P G A C Co
GasA Elec BergCoc g58.1949 J-D
Gen Electric <leb g 34s. .194-.- F-A
Gr Rap G L Co 1st g 59...191;'< F-A

95 4 Nov'03
105 J'ne'03

92 4 99
105 105

EqGLN

112

112
61

'83"

Co Gas Ist g 5s..lii4 9 M N
Kings Co El L A P g 59.. .1937 A-O
Purchase money 6s
1997 A-O
Ed El IlHkn 1st con g 48 1939 J-J

L Ist g 53.el91
Milwaukee (inn L 1st 4-(.. 19'.i7

ibi"

*

No price

102

115

98
84

112

4 Oct

112

Oct

833,

'03

113 4 Oct 03
93 14 May'03
103 4 104
95 J'ly'02

Friday; latest bid and asked this week.

112

'01

S334 Oct 'o;>
10734 De,c'(M;

102

St

100 105
106i4l09»4
107 llOH*

105 4

224
11

874 95
9419

89

10238 106'*

'03

106

109'«

104

115
115
98

J'ne'03

ib()"'ib5aj

114

Oct '03

II214II4

1134 Mar'OO
'03

994 102"

Mar'oy

99I4 Oct 'Oo

94
94
99 '4 99 "4

Nov'03
Oct '01
Nov'03

101410334.

994 Oct

101

94

*1024.

1014103
100
106

103
102
102
104=8

IO2I4 104 'a

i\Uv'02

1064 Mar'03

924

914 Oct

110

1064106'*

914 99

'03

May'99
8534 Aug'03

85'4

914 Oct

914 "97"

123

92

101

ig

100

'03
'99

IO318 Sep -03

116
II7I4.

124
90
119
117

1034.

10414

119

103 "sill

May'Ol
Nov'98
119
Oct '03
104=8 Apr*02

.

85»4

Oct
Nov'OO

1064.

118
117

126'a

117

104'4l06i«

10414

ibi" Mar'02
J-J
J-J
J-J

107
107
99
119
94
57

107 4 Sep '03
107 4 Dec'02

,

,

97 Sep "03
M-N
120 Nov'03
M-S
954 94I4
95=8
3d gold 4s
7414 Feb'03
1921 M-S
110i4Oct'03
Iowa Central Ist gold 5s.. 1938 J-D 11034
Kefanding g4s
1951 MS
89 4 92 Aug'03
'

1074 107 >»
102

97

,

II8412318
4;

94

70
108
91

RR See Erie
L
Kal A A G R SeeTolS A M S
an A Mich See
AOC

'4

100
75
115'a
98>s

Jetterson

A-O

gold 3s. .1950

67

Sale

663*

1950 A-O

Registered

63

LAN

67
Oct '00

53

Kentucky Cent See
Keok A Des Mo See C R I A P
KnosviUe A Ohio See So Ry

Lake Erie A W 1st g 5s. .1937

J-J
1941 J-J

2d gold 5s

1164
Ill

Sale

1997 M-N
J-J
Registered
1940 J-J
Leh V Ter Ry Ist gu g 5s. 1941 A-O
Registered
1941 A-O
Leh V Coal Colstgu g 5s. 1933 J-J
Registered
1933
Leh A N Y Ist guar g 4s. .1945
Registered
1945
El C A N 1st g 1st pf 68.1914
Gold guar 58
1914 A-O

644 71%

118

1154120

111

118
111

lost

1094 Oct

North Ohio Ist gu g 5s. .1945 A-O *111
L Sho A Mich S See N Y Cent
Lehigh Val (Pa) coU g 58.1997 M-N 106

Leh Val

N Y 1st gu g 4 48. 1940

See Erie
Ist con g58.ft.1931 Q-J
1st consol gold 4s
ftl931 Q-J
General gold 48
1938 J-D
Ferry gold 44s
1922 M-S

1932 J-D
1949 M-S
1934 J-D
Mont 1st g 6s.. 1911

Unified gold 48
Debenture gold 58

MS
A
1911 MS
Ist 58
N i:BAMBl8tcong58l93.T A-O
1927 M-S
N Y A R B 1st gos
NorShB 1st con ggu OS 01932 Q-J
Nashv gen g 68.1930 J-D
Louisv A
Bklyn

193"
1940
1940
1931
1907

Gold5s
Unified gold 4s
Registered

aDneJan

101

651,,

lOS's

1134125
9314

13 10234
6

96 4

M-N
J-J
J-J

M-N
Coll trust gold 5s
M-S
Cecilian Branch 78
E A Nash 1st g 6s. ...1919 J-D
LCin Lex gold 4 4s... 1931 M-N
Ist gold 6s.. ..1930 J-J
1930 J.J
2d gold 68

A
NOAM
NOAM

113'^

10941144

'03

107

1104Feb'02
103
107

1124
10734

93

105 ^8 Oct '03
109 4J'ne'02
113=8J'ne'03
1 09 4 Oct '99
105
105

Oct

91

96

104

1084

il3 4il4"*

104 4106

"9l'"97'

'03

100

Mar'03

100

100

118

115
101

.

Jan '03

118

118

994.

10138

991410214

10138

1004102

1004J'ue'03
100 Oct '00

9834 Sale

1)84

Jan

111

9641004

9834
'02

105 '4 Mar'03
112 Mar'02

105

ibs'iibs'i

1124 Jan '02
112 4 Apr'02
117
112
VS

II714 Nov'03

1144118

Oct '01
98 '(
084
100 Jan '02
111
111
106 Dec '00
113 Nov'03
IO8I4 Jan '03

111

112

Sale

113
102

110

11141144
10814 108 "4
I2OI4I29

12234 Ang'03

12234 12234

l'a$;e.

g 48.

III

Ist

conv g

11434,

126'*.

1264

.1948
NYGELHAPg 58....1949 J-D *107 4 109 4 108
FA 89 90 90
Purchase money

Ed El

113

974101'«

Uns and Electric !.ii<lit
Mnt Fuel Gas Co See Peop Gas
Newark Cons Gas con g 58 1948 J-D
Ist consol gold 5s

Ed E

L«eGa« L ol

85

100

1953
1921
1951
1951
1951
1951

H

See

Huil.i«n

1054.

J-J
J-J

W

Gold 48

Oct '03
Oct '9»
Aug'03
Aug'03
Nov'03
Sep '03
May'03

liiitlit

Det Gas Co con 1st g 5s...191h

70

'03

94
93

,1024 102=8 Oct

A-O

Long Dock
Long Island
llo'%116i4 11534 11634
100
106 Aug'02
130
130
128'a....

J

1947 A-O
P G A C Co
Con Gas Co See P G A C Co
Detroit City Gas g58
1923 J-J

Buffalo

93"%

Sale

92

J-J

St L Sou 1st gu g48
1931
Ind Bl A West See G C C A St L
Ind Dec A
1st g 53
1935
Ist guar gold os
1935
IndlU A la 1st g 48
1950
lut A Great Nor 1st g 68.. 1919
2d gold 53
1909

iUl!SCELLA.NEOU» BO.NO!^—Continued on Next
Electric

Oct

87

M

Gon and

94

Leh A Hud R See Cent of N J
94 14 Leh A Wilkesb See Cent of N J
1254 130 >8 Leroy A Caney Val See Mo P

88
884
1254J'ne'03

Penn Co

ETans

II3I4

Dec '02

130
98>» Sale

114

J-J
J-J

W

Pitts

100

IO2I4 11234

75

Registered 58

1937 FA
2d gold 4'2S
194ii FA
General gold 58
Termlnallst gold 58. ..1943 M-N
Regis $5,000 each. ..1943 M-N
Wlik A Ea IstgugSs. 1942 J-D

A

Mar'98
107

KCFtSAM SeeStLASF
A-O
See M K A T

M-N

M-N
Jeff RR IstgugSs
al90!» A-O
Long Dock consol g 6s.. 1935 A-O
Coal A RR 1st cur gn 6s. 1922 M-N
Dock A Imp Ist cur 68. .1913 J-J
N Y A Green L gu g 58.1946 M-N
MidRRofX J Ist g 6s. 1910 A-O
N Y Sus A l8t ref 58.1937 J-J

Erie

Low Hig/i

KCAMRABlstgug 58.1929

o£

Elgin Jol A East Ist g 5s. 1941
Elm Cort A -X o -See Leh A ^' Y
"jie Ist ext gold 43
1947
1919
2d ext gold 5s
3d ext gold 4 4s
1923
4th ext golQ 5s
1920
6th ext gold 43
192«
Ist consol gold 78
1920
•St cousol g luud 78
1920
Erie 1st con g 43 prior. .1996
Registered
1996
lat consol gen lien g 4s.. 1996
Registered
1996
Penn coll tr g 4s
1951
Erie 1st 7s.. 191
BnflX
gold 63
Bofl A S
1908
190S
Small
Chic A Erie l8tgoId5s..l9H2

105
106
75

IO6I4 Arig'03
107 J'ly'03

IO4I4.

Gold 34s
Registered
Spring Div 1st g 348. ..1951
Western Lines l3t g 48.. 1951
Registered
1951
Bellev A Car Ist 6s
1923
Carb A Shaw 1st g 48. ..1932
Chic St L A N O g 58.. .1951
Re.gistered
1951
Gold 34a
1951
Registered
1951
Memph Div 1st g4s...l951
Registered
1951

1004 Kan C A Pacilic
934 Kan City Sou Ist

75i<j 85
80
92
10818114

864
Sep

109

lUh

36

Feb '01

111

9!i

9714 IOOI4

104 W 107
104 108

'03

38

98

1937 A-O
1916 J-J
Atl g 53.. 1937 J-J

East Minn 6eeStPMAM
ast Ten Va A Ga See So Ry

117

130^1

140
12938.
112'«.

1917
Alb A Sus 1st con gn 78. 1900 A-O
1906
Registered
Guargold63
1906 A-O
Registered
1906
Bens A Saratoga Isl 78.1921 M-N
1921
Registered
Del Riv KR Bridge See Pa RR
Denv A B Gr 1st con g 4s. 1936 J-J
Consol gold 4'as
1936 J-J
Improvement gold 53...192» J-1)
Kio Gr So gu See Rio Gr So
Den A S West gen s £ a Ss 1929 J-D
Des Moi A Ft D SeetR&ie

113

1294

"-1

133 >a

1923 M N 101
Temi A unprow43
SjTBing A X Y 1st 78.. 1906 A O 108=>4
Warren 1st refgug 3 "23.2000 F-A
Del A Hnd Ist Pa Div 78.1917 MS vii'h.
Registered

104

LN

Registered
J'ly'03

744
100

J-J
Q-J

Central 1st g48..1951
Registered
1951
1st gold 34s
1951
Registered
1951
Extended Ist g 34s
1951
Ist gold 3s sterling
1951
CoU Trust gold 4s
1952
Registered
1952
O ATex gold 4s.... 1953
Registered
1953
Cairo Bridge gold 43
1950

Middle Divreg5s
St Louis Div gold 3s
114

Sale

'

llinois

Registered

ms
129

A'o

1064 Feb '02

103
99
106

Louisville Div gold 3 48.1953

Col

Del Lack A Western 78. -.1907 .M-S
Morris A Essex 1st 7s.. .1914 M-N
1915 J-D
Ist consol guar 78
'
1915
Registereil

Col

j

96

96

High
Sep 00

100

W

ib4iiNoV'0i
96 Sale
CoSjSaie

Ask Low

Range
Since
5;^ January I

VGA

127413338

128'4O0t' 03

A-O
vi

J'ly'03

1'20

103

95
99

Oct '02

99

95

ASA

100
A
N
103 4 Grand Rap A Ind A'eePeun RR
Gray's Pt Term See St L S
G t Nor— C B A Q coll tr 4s 1 92
Registered. /1
944 95
1921
Greenbrier Rv See Ches & O
9734 104
Gulf A S 1 1st ref A t g 5s &1952
See
Han A St JoSee N C B A Q H
1113811414
ousatonic
YN HA
120 129
Hock Val l8tcon8olg44s.l999
Registered
1999

'03

NoT'03

99
103
102

99
98 >9.

M-N

Sep

32

1st g 58. ..1918 J-J
Ist land gr ext gold 5s. .1930 J-J
Consol gold 5s. 1
1943 J-J
Fort St U D Co 1st s4>n3.1941 J-J
Ft
A Den C 1st g 6s
1921 J-D
Ft
A Rio Gr Ist g 3-4s. 192^^ J-J
^ al Har
/
See So Pac Cn
V Tal H
of 1882 1st 5s. 1913 A-O
Ga A Ala Ry Ist con 5s..ol945 J-J
Ga Car No Ist gu g 5s.. 1929 J-J
Georgia Pacitic See So Rv
Gila
Nor See So Pac Co
Gonv Oswegat See Y Cent

W
W

13

Pen

AH
A

L.

Geueral s Is
1993
Cam Div 1st goUl -ts 19oi'
Cin
& M DiT 1st e 43. 1991
St L Ulv 1st col tr g'-ls..l990
Reiri8tere»l
1990
Spr A Col Dir 1st g 43.. 1940
Val Div 1st s: 43.. .1940
C I St L A C cousbl lis.. 19-0
Ist goU143
fcl93i;

lyidaii
JVoi)

Bid

A

Week's
Jvange or
Last Sale

.Price

stock exchange
Week endino Nov 13

n. y.

High So Low High
10941163s Fla Cen

109 «2 Oct '03
109 .\i>r'02
109 Mar'03

J.J

73...1i>0o .V

2a(joUt 4 Sis

Last'

Jiange
Since
Jaimart/

[Vol. lxxvil

2

58. .1910

M-S

1995 J-J

NYAQEl LAP 1st con g 5sl930 F-A
Paterson A P G A E g 58.1949 M-S
PeoGas A C Ist gu g 68.. 1904 M-N
1904 J-D
1943 A-O
1947
Cke IstgugSs 1937 J-J

2d guar gold 6s
l8l con gold Gs
Refunding gold 5s

MS

90=8

101

4 J'ly'03

1014

03
116

Ch G-L A
Con G Coof Chl8tgug58.'36 J-D 104
Eq G AFChl8tgug68.1905 J-J 102

Mu

Fuel Gas l8t gu g 58. 1947 xM-N
l8t g 58. '51 J-D
Trenton G A El lstg58..1949 M-b

104

1

/c

Oct
Oct

'03
'03

1044

10334

106

106
106
102 4 Oct '03
4 Sep '03
101
100 Sep '03

1084 Syracuse Lighting

Due Feb <iDueApr eDueMay /iDueJ'ly

904
Oct '03
Aug'03
Oct '03

116
103

109

1024112

Nov'03

104
114
1004 100

102
115

10334

17

87
102
114
100
101
100
116
103
100

97'4.

107
119
10/ia
103 4
102 '4

1254
1074
109

10241084
101410314
100

105

Feb '01

Due Aug oDneOct jDueDec

« Option sale^

—
1

'

Nov.

Bond Record— Continued— Page

14, 1903.]

Sange or

yov 13

Louiav it Nasliv— ("i'liti"'''
Pensacola Div pohl lis. .. l'.''J(i M-S
r.f.'l t«.s
St L D\v lat vroUl Gs
(

li>S(i M-S
2it itoUl ;{»
Hender Bilse Ist s « t'lS. l'.t;U M-S
Kputuokv Tfiit lioia 4s..l'.<ST J J
L* N A- .M \ M 1st i "-js liU."' M-S
I

ir

LA NSoutli M joint ls.U"'>U'
H>^'J
Kt'jrlsteroil
N Kill AS 1st (Oi K 58...1W7

J J
J-J
VIk
c Gs..liVJl E A

i:u
i:n a 5s..li>3i'.
IIUO
itoUl Os

Set C I A 1.
S
Conl Sft L S AanhattAn Kvoon3oUs.llti>(>

107

1 !';'<

Roiri St oreil

1004 Sep

..
..

lU

A-O

AO

90

89

Sale

109

'03

lOoVjOct
110 Mar'03
100 Mar'Ol

02 U Sale

92

99

UIH)

13»4 Sale
Ski 10

12Hj
7

J

28%!

MS
MS

RWAOTR

Mioh Cent See X V Cent

N J See Kne
MU L, S A W See Chic A N
Mil * Mad See Chic A X W
Mil & North See Ch M A St P
Minn A St L 1st cold 7s.. 1927
o(

"ft

J-D

144

1

MS

97

Ist

g

4s...

8U gold 4s

ffl990

KanC A Pac Ist g 4s... 1990
M K ATofTlstgug53.1942
Sher Sh A So 1st gu g 5s. 1943
1942
MoK A Istgugos

E-A

l!.

Missouri Pacitic 3d 7s
1st consol gold 6s

F-A

.MS
J-D
A-O
M-N

1901!
19211 .M-N

Tmst gold

5s stann)e«i.al917 M-S
ol917 M-S
Registered
1920
1st coU gold OS

FA
FA
J-J
FA

Cent Br Ky 1st gu ,« 48.1919
Lerov A C V A L 1st g 5s 1920
Pac K ot Mo 1st ex g 4s.l93i^
2d exlende<l gold 5s...l93S J-J
St Llr MA Sgeucouir 5sl931 A-O
Gen con stamp gtdg 5s 1931 A-O
Unilied A ret gold 4s.. 1929 J-J
1st g 5s. 1920 MS
Verdi V 1 A

W

Mol) A Birm prior lieu g 53 1945
1945
Mortgage gold 4s
Mob Jack A K C Isl g 53.1940
Mol) A Ohio new gold 03..1927
Ist extension gold 6s../ll927
1938
General gold 4s
Montgoni Div 1st g 5s.. 1947
St L. A Cairo coU g 4s..el930
1931
Guaranteed g4s
coll 48 See Southern

MAO

J-J
J-J

J-D
J-D

123

121

Jan

Sale

113
97

Hz 12,! Hz

Nov'Ol
Apr'Ol

75
98H2

109
21

9S
76
993.

971^

99'4

1453s,

11634 1103..

'02

113
97

97 >2 Sale
75 Sale

1990 J-D

1944 M-N
1st ext gold 5s
2001 A-O
St L Uiv 1st ret s 4s
Dal A Wa 1st gu g 53...1940 M-N

143

11034

93H J-J
J-J
J-J

MSSMAAlstg4 int gu 1920
M St P & S S M con g 4 int gu '3S
Minn Un See St P M AM
Mo Kan A Tex

Oct'03
Feb '03

123 Hi Apr '03

144

.

103
98

19H4 .M-N
Ist consol gold 5s
Ist and refund gold 4s.. 1949

M A P Ist 5s stjid 4s iut git

120'V
983i 10334

95
75
97

100 Is
85
104 Hz

80 Oct '02
101 Oct "03
97>9...,
101 101
86 ....
90 May'03
87Hj 90
lOOTg 43 97
98
lOSHz
100»i
106 100 Aug'0:-t
105 Hz 106
'03
106 ....
105 H2 Oct
1051-zlll
1051a 107
105 Hz 111 Hz
105H2 Nov'03
13 117 122
117 118 117
117
IO4H1IO514 1041% IO5I4
102 10738
105 Hj
10408105H. 105
91'^8 91^8
91\
100
100 May'Ol
102 Sale 102
102 >4
109 Hz 114
10334 Oct '03
111
110-'4llo7e 11034
1093.1
'

86 ^ Sale

See St

P

il

'03

100 10514
10758 113

«t5i.

llOUJ'ly'OO
93 Apr '02

93

102
125
120

125

J'ly '02

125
Oct '03
91H2Oct'03
113 Nov'03
98 Hz
98 >5

<i-J

.113

122
119

90
110
93

127 Hz
125 Hz
97 Hz
116Hz

98 Hz

98 >i 101HiJ'ne'02

J-J

Elor

AM

A

A

Katof Mex

Shel

See

121

122

IIOI8N0VO3
113
116
111

1st cousol 4s

1920 J-J
1951 A-O

New H A i) see N Y N H A H
N J June KK Set N \' Cent
New A Cin Bdge See PenuCo
NOAN E prior lien g0spl915 A-O
N Y Bkln A -Man Bch See L
N Y Cent A H Kiv g 3 4s. 199 J-J

101
74

121

121

'no's

LAN

prior lien 4 Hjs.

103
76

120»4 124

IO8H2II5

Dec'9ii
J'ly '02

Dec'99

102 Hz Oct '03
7 6 Hi Nov'03

98

103 Hz

73

79^8

I

Registered
1 99
Debenture 5s ot.. .1884-1904
Registered
1884-1904
Regist del) 5sof...lS89-1904
Debenture g 48.. ..1890-1905
1890-1905
Registered
Debt certs ext g 4s
1905
Registered
1905
Lake Shore coll g 3 "^s.-- 1998

1998
Mich Cent coU gSi^s
1998
Registered
1998
Beech Creek Ist gu c43.1930
Registered
1930
I
2d gu gold OS
1930
Beech Cr f;xl Istg 3»2Sbl951
Cart & Ad 1st gug 4s. ..1981
Clearr Bit Coal 1st s 1 4s. 1940
Gout A Oswe 1st gug 5s 1942
Registere<l

Moh A Mai

Income 5s

1st

gu g

4s. .1991

J-J

99% Sale
^S^

-MS
.MS
M-S

IOII4

J-D
J-D

IOII4.

M-N
M-N

FA
F-A
FA

99<% 1001.2

100 Hj
89 Hi Sale
89

FA
JJ

106112

J-J
J-J

99 •s
99H! 49 95 104
95I4IO5I4
99 Oct '03
"i 10038 103 78
101
101
101 HzJ'ne'O
100 101 ^8
109 1" Sej) '9
34 j'tie'O
9934 lOO^s
99
99 Dec '02
100 Sep'O
100 100*8
99 H2 Nov'02
25 87
89 Kt
89
94^8
89 Nov'03
86
91
92^8
88 Sep '03
86
91 Jau '03
91
91
107 14 108
108 May'03
106 J'ue'98
,

iio";;;"

108

2d gold 53

95

J-J

Apr '02

MS
MS

See Gt

4s--. .1991

ll>7
108
107 '.J 10734 108 Nov'03
lO'JHi
102 Sep '03
98^8
102'8 0ct '03
lOli-j
10 1 Hz Oct '03

89I4
IO8I4

101

22

«1

Nov'03

1.J

114

lOfi
in»4
lO-.l-jlll l-.!
100->4 103«H
102:1,
101

98

105

"-J

973* 105

Feli'O

115
llSHi

124 "J an '03
139 Jan '03

120
121

1'24

1'24

139

139

H5H2
Ill's
120 Hi

1

10418.

1 14

11

11034 liaig

I4

1

123

'2

125 Hj

110 I.ei-'Ol
lOOHzNov'OO

UOHjOct '03

96"8...

70

1

123HzMar'ii3
127 J'ne'O'j

97Hj 99Hj

...

99'>8...

Sep

100

100

'03

113-'4

Jan

100

iVs'iVj"

"

115 Oct '03
117i4ll7Hz II7I4 ll7i|

117

12214

104

107»9

'02

100

104 Oct '03
103 Hj
104
103 M»y'03

123»8.

1

102 Hj.

100 >4 May'03
101 Sep "03

105

107

10334

11 100

102

105
1033<

Registered
199t
St P A N P gen g 0s....l923
Registered certilic's..l923
St Paul A Dul let 58.... 1931
2d 5s
1917
Ist consol gold 4s
1908
Wash Cent 1st g48
1948
.Vor Pac Ter Co lat g 68. .1933
Nor Ry Cal See So Pac
.

W

107 Hz J'ly '00
110i4Dec'0]

102

.

101

12834 131»4

105
101

101

loei*

105

108
'126

126

97

Sale

90
106
97

Sale

102

Sale

101
101

May'03

Feb '03

114

11514

Aug'O:!

130

127 Nov'03
127 H; 127H>
9078
97

127
120

133 Hi
128

97Hz103Hi
lOOOglOl

90'-2Sep '03

98

70I4 Sale

89 Hz
90
107 Hj J'ly '01
97
97

9678 101

99 Hz 104

IOIH2 102
10218 Nov'03

68

70
68

97

97

OO's 10359
6934 73^8
7214
68

701.

Oct

I32I4

94'8l01'»
93
90 Hz
8714 94

'03

J

97

97

J

FA
QF
FA
A-O
JD
Q-M
J-J

109
105

Hz.

•.17

90
112

101

122 Oct '03
132 J'lv'99
112i4J'ly'03
107
107
9OH2
961-z
94 Hj Feb '02
111 Hz Oct '03

12'.:

.
.

.

.

121"

110

II6H1

114H2May'03

114

1144

06 14 Nov'03

101

111

Apr '03

102

102

i"27"*

II214II2I4
105 107
90 Hz 98

MAO

St P
See N
See C

RR

A
OreRRANav
A
A

Y Cent
C C A St 1

108 Hz J'ly '02

NYC
W

A

Sink fund subsidy gOs..l910
Penn Co Guar Ist g4H2S.1921
Registered
1921
Guar 3H28 coll trust reg.1937
Guar 3 Hzs coll tr sor B...1941
Tr Co certlf's gu g 3H>s.]9iO
C St L A P 1st con g 5s.l93'2
Registered
1932
CI A P gen gu g 4 Hzs ser A. '42
Series B
1942
Series C SHzs
1948
Series D3HzS
1950
Erie A Pitts gugSHiS B.1940
Series C
1940
N A C Bdge gen gu g 4 Hzs 1945

—

M-N
J-J
J-J

MS "90"
.%Yn
AO lie"
AO

C guar

UOI4
96
"9434

J-J

10734 II014

Mar'03

100

102 Nov'98
91l2 0ct '03
933^

109 Hi

91Hj 97
9534
95

Nov'03

10Si4Aug'03

ll3i«.

I22I4I23
108 14 108 "4

lilt's

FA

J-J
J-J
J-J

1942 iM-N

95
95
94
101

.

.

A-O
M-N

Nov'OO

102

.

.

Hz

Oct '03
109

105 ^8.

llOH.

Feb '01

100
93

100 '4 Nov'02
92 Sep '03
127 •'8 Oct '02

107
109

.
.

.

.

11934 Sep

1912 J-J
/il912

Apr'O'.
11014

122 14 Feb '03

A-O
M-N

D 4s guar
1945 M-N
E 312 guar g
1949 FA
W A C 1st 7s. ..1912 J-J
Ist real eat g 4s. 1923

1

102
102

106

llOHz

PCCAStLgu4H2SA...1940 A-O 109
Series B .guar
1942 AO 109

RR

Apr '03

114
130

.

.100

hio River
1st g 5s.l93( J-1)
General gold 58
1937 A-O *108 112
Ore
Cal See So Pac Co
See Un Pac
Ore Short Line See Un Pac
Oswego Rome See
O C F St P See C N
Pac Coast Co 1st g 5s iMo 1940 J-D 10534
ac ot Missouri See
Pac
Panama 1st s fund g4'2S.. 191' A-O

Series
Series
Series
Pitts Ft

3134

Nor

Consol sterUuggOs
1905 J-J
Convertible g 3Has
1912 M N
Con currency Os reg...3l905 y-M
Consol gold 5s
1919 M-S

J-D

M-S

104 100
102 Hz
9434

.>5alo

107Hzll4Hl
106 112

92

130 Apr'Ol
100 Hi Oct '03

94

H.'

96

11934 128

'03

ioo"

95 'f 187

i'oo'ia

9378i"07i^

109

on Next I'ase

Telegraph and Telephone

Am Telep A Tel coll tr 4s 1929

J-J

M-N

J-D
1920 J-D
t g5s.l951 J-J

102

A-O

107

99
Sale
Hz.

58.1928 J-J

1951 J-J
ol917 A-O

91
.102
104
.

J-J

.

J-D

FA

M-S
J-J

55
112
98

70

Sale

Nov'OO
Apr'03
98
68

6634

115

m 5s. 1940 M-N

Birm Div 1st consol 6s. .1917
Cah C M Co Isl ga g Os.1922
DeBarCA 1 Co toi g 6s.l91o
Va Iron Coal A C 1st g 5s. 1949
Wh LEA PC Co Istg 5s. 1919

lOSHjNov'Ol

107'.j108

W

C B A Q coll tr 4s

Penn

103
98
68

f

-

lien g 4s.. 1997 Q-J
Registered
1997 y-J
General lien gold 3s
a2047 y-F
Registered
a2047 li-F

2d7s
3d 7s

J-D

FA
FA

Pleas Val Coal 1st g s
BocliAPitCA 1 pur
Tenn Coal gen 5s
Tenn Div l.st g Os

FA
J-J
J-J
J-J
J J
J-J

Nor Pac— Prior

.MISCELLANEOUS BONU.S— Continued

KanAHC A C Ist s

I)

J -1)

N YO A Wref I8tg48..sl992 M-S
Regis $5,000 only
{rl992 MS
N Y A Put See N Y C A H
Y A R B See Long Island
N
N Y S A W See Erie
N Y Tex A M See So Pac Co
Nor A South l8tg5s
1941 M-N
NorlA West gen g 6s
1931 M-N
Improvem't A oxtg6s..l934 FA
New River lstg6s
1932 A-O
N A W Ry 1st con g 4s. 1990 A O
Registered
1990 A O
Pocah C A C joint 4s.. 1941 J-D
CCA T l8tgng5s
1922 J-J
Scio V A N E 1st gu g 4s 1989 M-N
North Illinois See Chi A N W
North Ohio See L Erie A W

A-O

1992 Sep

Coal and Iron
Cah Coal Min See T C I A R
Col C A 1 Dev Co gai g 5s. 1909
Col Fuel Co gen gold ba...l919
Col F A 1 Co gen s i g 5s.. 1943
Convertible deb g as
1911
Gr Riv Coal A C 1st g 0s..l919
JeftAClearC A I Istg 5s. 1920

D
D

J.

New York New Hav A Hart
Housatonic K con g 5s-.1937 .M-N
N H A Derby con g 5s. .1918 M-N
1905 J-J
N Y A N E Ist 78
1906 J-J
IstOs
N Y A North See N Y C A H

OInd A

McM M W A

Nash

AW

Nor Wis See
Nor A Mont

Chat
St L 1st 7s. 1913
192
Ist consol gold 5s
Jasper Branch Isl g 0S..1923
Al 1st C3..1917
Branch 1st Os
1917

TAP

lliyli.

N A Greenw Lake See Erie
N Y A Har See N Y C A Hud
See D L A
N Y Lack
Y
N ! L E A W See Erie
N A Long Br See Cent of N J
N Y A N E See N Y N H A H

lOyigllS
108 111
82
91 Hz

Morgan's La A T See S P Co
Morris A Essex See Del LA NV

Nash

So Low

'02

Oct

Isl

StPaul-Dul Div g

85 «8

110

.MS
F-A
Q-F

Oct

101Hjl07Hi
89
94 Hz

Moliawk A Mai See N Y C A H
Monongahela KlT See BAG

Mont Cent

ioi"

since

\'

1909 J I) 114'a.
Iowa Ex 1st sold 7s
Pacitic Ex 1st sold 0s...l9'2l A-O llOSz.
South West Ex lats 7s. 1910 J D 110»8.
St L gu See B C K A N

.1

gug 58.1918 M-N
UtlcaA BlkRlvgng4s.l922 J-J
N Y Chic A St L 1st g 43.1937 A-O
1937 A-O
Registered

ios'May'oo

95

-

195-J M N
A Stur Ist gug 3s. 1989 J-D
N Y A Harlem g 3H28...2000 MN
2000 M-N
Registered
N Y A North l.st g 5s. ..1927 .\0
14 WAOcon Istext5s./il922 A-O
Oswe A R2<1 gu g5a...el915 K-A

91 Hj 97

Jliiih

/-Old

105

A'a nge

Janvary I

A-O

Bat C

jrolil

9214 Nov'
9008 J'ly

X-O

lat gS'-'S

183.

S"©

**

105

MS

LAS Istg 3HiS

80

05

hi;

r-.\

1931
1931 (^-M
1910 J-J
1940 J-J
1951

5s

«old as
5s

it coll

31-js

Registered

7II4
7II4
141,
13 Hi
8 »8 Oct '03

71

1917 A-O
1919 A-O
ser
19l»
FA
Coll tr )x 4'-ja lat
Mex Internal lat con s 4s. 197
197
Stanived suarautoed
1910 J-D
Mex North 1st gold tjs

Minn A

1997
1997
Regialered
DetMon ATol 1st 78.1900
Ka.\<fcl+ Hist cue 58. 1938
Mahon C'l HU 1st 5s. .1934
PlttaMcK A Y 1st gu 63. 1932
1931
2d guar lis
MoKeesA B VlstgOs 1918
MiohCent Ist consol 08.1009

Gold

104 Hz

51 108

Ask
F-A

2301 J
Regist ered
Lake Shore consol 2d 78.1903 J
1903 J
Registered

io6'^ii-i\
no 113
104 105 Hj
no 110

Week's
Kanije or
Last Sale

J^ice
t'ridaxt

A'ov 13

1st 4s gu...23(il J-J

RegiatereKl
48

Cfiit consol sold 4a. .1911 J J
lat consol income k Ss.alitS'.' J'ly
2d consol income s 33..(il9.S!' J-ly

Mid

West Shore

9r>>-iioo

84

1..

111

111

stock exchange
January 1
Wkkk Esdino Nov 13
Low Hiyh N \' Cent A II K Continued,
N J June K gu 1st 4s. ..1980
1980
Hegislered
N Y'A Pu lstcongUg4s 1993
5s. 1910
Nor A Mont Ist gu g
n. y.

lOT'-j 107'->

'03

1021-!
10
103^8 Dt
1U9'4
io9'>i!!"I! 109=8

1

Mex

id series

"v
'V

107'.jJ'nP'O3

107Hj..

ISHIS J-J
Metrovol Kl lat u Oa
Uan S \V Coloui/. e Ss....l9S4 J-D
N Y Cent
McK'pt * B V iV?
Metropolitan El See Man Ky

Konip

»a

'4

102
89

M

Mahon

02
lie
75 J'n 02
113 No '99 "7
118
lis
98^4

12n'-j Aui:

]2l>2

lo3 ..
92 "a..

Sink fund
L<& Jell BdsoCoKUK-ls.-iy-t."

L N A & Ch

110

98

=5^

Last Sale

1863

3

lUINDS

A'(i?»(/«

Since

HiiiU
ASk Low
110»aMar '02

(.

Pens A: Atl 1st
S <fe N Ala con

"0-.

Week's

STOCK KXCHAXOE
WkKK llNM.Mi Nov 13

N. Y.

-

91

J'ly '03

10234 Sep '03
'03

103 Hi Oct
105 Feb'OO
96 Oct '03

70
32

"•No price Friday; latest bid and asked this week,

112
90
6634

112
105
9634

J'ne'02

107 May'97
102 H: Oct '03
100i4Feb'02
105 Oct '00

70
Jan '00
a

Due Jan

J-J
Cable Co Ist g 48. .2397 Q-J
Registered
2397 y-J
Erie T A T col tr g s I 5s.. 1920 J-J
MetT A T Istsf g5s
1918 M-N
Mut Un Tel Co See Westn Un
N Y A N J Tel gen g 5s.. 1920 M-N
No Westn Teleg See West U 11
West Union col tr cur 5s. 1938 J-J
Fd and real est g 4'23... 1950 M-N
Mul Un Tel s fund 6s. ..191 M-N
1904 J-J
Northwestern Tel 7s

Comm

102 Hs 102 Hz

91

91

102410734
102 Hj 112

96
70
6

103 Hi
81

Due Feb

96HzApr'03
96 Hz 100HzApr'02
100 Hz Oct '00
109 Oct '99
112i4 0ct '03
llOis.

II2I4II214

105 '4 J'ly '03

IO514IO8I4

105

.

10534108
101 Hz Sale
103Hz

105 Oct '03
101 Ha
10034
107H2J'ne'03

96Hz

961a

105 110
35 10034 105
107 Hz 109

&

.>lanufactnrin?
In(lu>4trial
Amer Bicycle s f deben 5s 1019 M-S
.\m Cot Oil ext 4Hzs
1915 Q-F

Am
Am

Hide

AL

Isl s

tg08..1919 M-S

34
67

93
70
88

Mfg 1st g0s..l915 MS
e Dae May ^DueJ'ne
A Due J'ly p Due Nov
Spirits

Feb '03

93'78Aug'03
08
67
8018
861*
«

Option

sale.

34

42 13

93^8 101

66
80

98
94 14

Bond

1864
Price

Weelcs

fYiday
yov 13

STOCK EXCHAXRK
W«KK K-MHNH Nov 13
Penn KU VonttnueitJ
M. T.

Ranyf or

103
100'«

2d «oU14S»3.

g

1931>
KoUlos
Pt Hurou Div 1st E5s.l93i>
Sag 'Pus tt H 1st gug 43.1931

W

1

Pitts

nee

B K

<fc

Iron

Mount

He*

W

OS

>a

95
116 1211a
107 111
106iall3

107 >a Sep '03
109 Nov'03

109

127
95

Nov'97

117V4 J'ly'03
98 J'ly'g"

120

96&«Sale

92

98

lOOia
IOOI4IOOI4

96VJ'ly'03
92^4 Nov'03

es

95

9334

981a
961*

96
89

76

92

P

96

99
92

lloia 1121a

75
92

75

Mar'03

92

85

So

94

81

lOSiaSep'OS
1041% 106
104 4 Oct '03
1031a 106
124>8.
124'4 Nov'03
120 129
llli4Nov'0S
Ill's.
lOSiallo
92 Nov'03
94
92
951a
100 J'ne'03
100 100
8134 Sale
81 "4
82 219 7834 91^8
119i4Sa)e 119
119^4
4 118
124
80
39 741a 884
78>aSale
78Hj
103
i03

.

J-J
.\-o

100

.

1094.

J-J

JJ

106

A-0

lOl-g

1 03

1024
1034

102 Oct '03
1064Muv'0l".

108
108

11934

AC
AG
AG
A-G
M-N
M-N

109

11

lOo'e

.

Stat Isl

92

93

92
71
69

69 >a

69^ Sale
109
131

92

1

Nov'03
70

106

894 974
es^e 85 4
86

66

110i4Sep'03

..
..

IIOI4II34

132'a

12714I3514

1321a

140

May'02

llOia Nov'03

109 >a.

106

1114

lieisAnr'Ol

llOHlll'a 1091a
10134 Sale

10134

102

106
104

116>a.
.

111

.

671a Sale

98

,

86

Dec '01

671a
9734

102
99i« 9934
861a 87 1q

111

111

112»4

914 964
8438
64
9734 103 4
IIII4IIII4
90
95 4

100

Jan

'03

991a 100
87 14
86^8
95 Apr'02
105 "a Feb '03

99

9934

110i4Feb'03
105

1021a
*102
*

104
103

Feb '03

loeiaOct '03
108 Oct '03
103 Nov'03
1021a I)ec'02

102

60
7

102

95410018
84

9218

J-J
ni Steel Co deb 68
1910 J.J
Non-conv deben 58
1913 A-O
Int Paper Co Ist con g 68.1918 F-A
Knicker Ice (Chic) l8tg58.'2H A-O
1923 A
Lackaw Steel Ist g r>3
NatStarchMfg Co istges 1920 M-N
Mat Starch Co 8 f deb 5s. .19-^5 J-J
Stan Hope
Ist g6«... 1946
Income gold 5b
1946

77
5439 Sale
60 4 Sale

93

93
10434 106

93 4
87

119

1114
105^
IO414

»4 1064
119411934
1(1

108

1067gllO
10834 112

1034 Oct
111

4 Oct

1034103H

'03
'02

105
112

Apr'03

11 II4

Aug'03

91
112

N0VO3

934
120

91

16

954 17

1111,117
97 ii
89

11041134
9278

981^

Mar'Ol

904 904

'03

Oct '03
Oct '03

116

116
112
114

1154 1154
1104Nov'03
1204 1204
122

106

101

1124 26 1114118><

904 Oct
116
114

119»4

1074110

•

116>«

1194

11041153^

1194124

122
'03

122
114

118

loii4.Tiy'0o
108 Sep '03
92 Sep '02
102 14 102 14
123 Feb '02
112 Feb '03
115 Jan '03

108

lU^^

102

108

112
115
108

102

1164 Oct

1104 Oct '03
113 4-May'03
92 Nov'03

124-4

.

115^ V

1164
1134113S
911* 93
115 1164

.

1154Mar'03
117

J'ly '00
'02

974 1044 Sep

gu g 4 48.. 1943

Tebo&N
1

A

6VeMK<feT

of St L 1st
er
l8t con gold 68

g 448. .1939 A-O 1084.
1894-1944 F-A 114
St L M Bge Ter gu g 58.1930 A-O
Tex <fe N O Bee So Pac Co
104
Tex & Pac E Div Ist g 68 ..1905 M-S
2000 J-D ll74SaIe
l8t gold 68
90
2d gold inc 6s
f2000 Mar
1931 J.J
La Div B L Ist g 68
111 4 Sale
1935 J-J
Tol & O Cist g 68
Western Div Ist g 58. ..1935 A-O 106
1935 J-D 103 107
General gold 5s
89
Kan<fe M 1st gug 48. ...1990 A-O
90
92
1st gold 48.. ..1917 J-J
Tol P <fe
81
83
pr Ben g 348.1925 J-J
St L<fe
Tol
68
1950 A-O
69
50-year gold 48
96
Tor Ham <fe Buflflst g 48.M946 J-D
108 110
Ulster&Dell8tcong58 1928 J-D
n Pac RB & 1 gr g 4s. .1947 J-J 10238 Sale
.

WW

1947
1911
1911
Ore Ry & Nav con g 48.1946
Ore Short Line l8tg68.. 1922
1946
1st consol g5s
1927
48 <& participating
1908
Utah & Nor Ist 78
1926
Gold OS
Begistered
IstUen convert 48
Begistered

2d gold 5s
Debenture series

107 14 J'ly'03

107 1« 112»«
110 118
116 1177,

llSTg 113''8
115 J'ne'03

100

1164
81
110
111
111
107
90
91
82
683e

98
108
102i:»

Sep '03

102
llSij

100

(

1174 19 113

81 WW)
1081a

J'ne'03

HI

Get '03

1114

109
110
107

Sep '03
Feb '03
Nov'03
Oct '03

mi

107
97

88

834 11
69

US'!

4

Apr'03
Oct '03

88
82

j

92,'

se
80
98

68
98
108

110^

1024 78 994103^

1094

99 lOSig
93 4
94 409 90581071*
105i4l06J«
105 14 Jan '03
9934 100
13 9634 102
12334 12334
4 120 127^
II3I4 II314
2 109 lU
9II4
248 874 981*
92
116 Nov'02

103

1144 Apr'02

J-J

M-N
M-N
J-D

FA
J-J

Sale

78
105
54
60
99
99
100
105
93
93
90
69
33

Om

Jan

&W
&

. .

M M
SeeCAHW

78

J'ne'03

80

*00

55

350

61

41

Sep
Jan
May'02
Nov'03
'03
'99

Feb '03
93 4 14

514

6734

68

77
00

9834

103
93

1

110
93

J-J

M-N

1939 FA
1939 J-J
J-J

A

1939
Series B
Ist Uen equip 8fdg58..1921
Det <fe Ch Ext Ist g 6s.. 1941
DesMoin Div Ist g 48. .1939
1941
Div Ist g 348
Tol&ChDiv Ist g 48.. .1941
St Chas Bridge 1st g 68.1908
Warren See Del Lac West
Wash Cent See Nor Pac
See Southern
Wash O
Pa Ist g 58. . 1937
West N Y
1943
Gen gold 3-4s
dl943
Income 5s

W

ManutnctarinK <&

Amer coll tr g Ss. 1911

Ist

& Lew See Penn RB
SyraBing&NY SeeDL&W

105 4105 4 West No Car 6'«« South By
West Shore <Se« N Y Cent
47 96 102
Va Cent <fc P 1st g 63. .1911
9914 99 14
82
884 Wbeel'g & L E Ist g 58. 1926
Wheel Div Ist gold 5s. .1928
Exten <fc Imp gold 5s. ..1930
IIOI4II2
1949
Ist consol 4s
105
105
Wilkes & East See Erie
103 109 \
10141094 Wil <fe Sioux F -Se« St P A
Winona & St P
103 105
llWisCent 60-yT Ist gen 48.1949

.>llSC!EL.L.ANEOi;s

FA

II014

Sunb

& Black R Se« N Y Cent
W See Mo P
Ver Val Ind & See South Ry
irginia Mid
Va & Southw't 1st gu 58.2003
1939
Wabash Ist gold 5s

671a
9734

99 14 Mar'03
86 Oct '03

85

107
103

J'ly'03

14

864

72
107
111
103
102

Seel.&N

& Nor Ist g 68.1939

&

"»9" 104
Sale

Intluatrial
Thread 1st col tr 48... 19 19 J-J
U Car Co Ist g 68.. .1942 J-J
Bar
Consol Tobacco 50- yrg 48.11)51
Distil Sec Cor con V Ist g 5s. '27 A-O

,

Unl N J RR & C Co See Pa RB
Utah Central See Bio Gr Wes
Utah & North See Un Pacific

llli4May'03
90 Oct '03

/cl949

1933

I34I4

IIOI4II84

111 Apr'03
87 Aug'Ol
911^ Oct '03

.

<fc

134

1064

128 Oct '02
123 Dec '99
95i4Nov'01

.

92'%.

Gila VG&Nl8tgTig58.1924
Hous E W T Ist g 58.1933

103

104

By

'O:-!

OSt^Sale
'

9934
12334 Sale
113 >4 Sale
91 4 Sale

10234 Oct '08

Utica

981a.
10634

91

100

Ang'Ol

11334

.

1231a.

108

1094114

1091a
102

Maj'Ol
Ang'03

128 Apr'02
134 Mar'03
115 Apr'97
116 la Oct '03
126 la Feb '02

130 »8.
115

W

.

'o;;

4 Apr

1057^ 1057^
108^4 J'ne'03

1064

.

Spok Falls

1

Oct

Feb '03
10'^
Nov'03
107 4 Sep '03

1937 J-J
1906 FA 102 14.
1912 M-S
106
1943 J-J
Con gold 58
Southern— 1st con g 58. ...1994 J-J 112i4Sale
1994 J-J
Registered
Mob & Ohio coU tr g 4s. 1938 M-S 91
Mem Div Isl g 44-58... 1996 J-J *112
95 4 Sale
1951 J-J
St Louis «liv Ist g 4s
1918 J-J 112
AlaCenB Ist g 6s
894
1948 J-J
Atl& Danvl3tg4s
Atlcfe Yad Ist g guar 4s. 1949 A-O
1916 J-J lie
C0I& Greenvl8t68
E T Va «fe Ga Div g 5s. 1930 J-J 113 ....
1956 M-N 115411S
Con let gold 68
1938 M-S 11041114
E Ten reor lien g 5s
1922 J-J 120 ....
Ga Pac By Ist g 6s
Knox <fe Ohio Ist g 68. ..1925 J-J 1214....
1915 J-J 1164....
Rich & Dan con g 68
Equip sink fund g 08.. 1909
1927 A-O 10534
Deb 5s stamped
82
Rich <fe Meek Ist g 48.. .1948 M-N
So Car & Ga 1st g 58.. ..1919 M-N 102i4Sale
Virginia Mid ser C 68. ..1916 M-i- 109
1921 M-S 105
Series D 4-58
1926 M-S 107
Series E58
General 5s
1936 M-N 109
1936 M-N
Guar stamped
9li«.
l8t oy gu 48.. 1924 F-A
O&
West N C 1st con g 6s.. 1914 J-J 114

SAN Ala

754 22

75
107

7514 Sale

J-J
J-J

lo(5

!

Jan '01
1054Nov'01

8 P Coast 1st gug 4s
Xei & N O l8t 78

.

J'ly'03

102

Nov'02
Sen 'O-i

102
113

94i|

gulstg4s.l912 A-O

1907
1938
Ore & Cal 1 st guar g 5s. 1927
8 A <& A Pa,ss Ist gu g4s.l943
80 P of Ar gu Ist K 68. .el909
clOlO
1st guar « 6s
1905
8 P of Cal Ist g 68
1905
1st g 6s series B
Ist g 68 series C & D...1906
1 8t g 6s series E & F. . 1912
1912
Ist gold 6s
1937
1st con guar g 5s
1905-.. 193'
Stampe<l

W

1941
Cent Pac Ist ref gu g 4s 1949
Begi3lered
1949
Mort guar gold 3'«ja..ifcl929
Begistered
/Icl 929
Gal Har<& S A lstg68..1910
2d gold 78
1905
Mex<& Pac Ist g OS
1931

Distill of

130
122

,

MP

A

AC

112^

102

127 4 Feb '02

,

85

109
90

'03

90

90

Sale

,

Sher Shr & So nee M K & T
SU So oca <& G nee Sav F <fc W
1924 J.J
Sod Bay & So Ist g 5s
So Car & Ga nee Southern
So Pac Co— CoU tr g4'3a..l905
Gold 48 (Cent Pac coll).itl949

Am

1104 Oct

112

,

W

lot guar OS red

Jiiah ATo Low High
11134 Oct '03
10834 112

122
1920 J-J *114

1st 73.1918

Since '::
Januarjf3i

Ask Low

MS

W

W 1st gn g 58

94
821a

101>4Nov'01

l8t g 43 bd 0tla.l98y

Begistered

96
96
8210
84
97 Jan '02
110>i2Feb'03
75 Aiig'03

Sale
821a Sale

Last Sale

Sabine Div Istges

120 Vj Dec '02
96 >2
97 178

112>4

Nov 13

SPacofNMexl8tg6s..l911 J-J

1163411714

98 Aug'03
lOO'^Feb'OS

101

W

N

J"ue'03
J'ly'03

116

111

Ist gold 68.. ..1934
Fdfc
1934
1st gold 6s
St Jolui'sDiv I8tg4s...l934
Ala Mid Ist gu gold 53. .1928
Ist gu g 48. .1938
Brans <fc
SU Sp Uca <& G gu g 48.. 1918
Scioto Val & N E nee Nor&
Seabocirtl Air Line g 4s ...1950
1911
CoU tr lerund g os
1926
Seab<fc Boa Ist 5s
Car Cent 1st con g 48. ..1949

<fc

120

Oct '01
112«2Dec'02

StP&S'lCity 6<feCStPM<fcO
SFe Pre8& Ph Ist g 5s.. .1942 M-S
B A <& A P nee So Pac Co
S F 4 N P l8t sink I g 5a.l919
105

A

No

Nov'03

115
104

2d g 48 inc bond oU8...pl989
Consol gold 48
1932
Gray's PtTerlstgug 58 1947
St Paul (fe Uui Hee Nor Pacitic
St Paul M & Man 2d 68... 1909
1933
IM consol gold 68
1933
EeffistertMi
Beauced to gold 4 'as.. 1933
Registered.
1933
1910
Dakota ext gold 68
1937
Moul ext Ist gold 48
Registered
1937
BMinulstdiY lstg58..1908
Registered
1908
1948
Nor Div 1st gold 48
1922
liinn Union Ist g 6s
Monte IstgugBs
1937
Registered.
1937
1937
Ist guar gold 58
W1U& S F Ist gold 58. .1938
St P <te Nor Pac nee Nor Pac

Say

&T

N VTcfcMex

107 »2 Oct '98

M
M

LS

121
95

AO

St L K C 4 >' Hen Wabasli
St L. M Br nee T RK A of St L
St L. <& S Fran 2d g 68 CI B 19UG
1906
2d gold 6s Class C
1931
General gold 68
1931
General gold 5s
8t 1, A; S F KB cons g 48.. '96
South w DiT 1st g 58.. 1947
Retunding g 48
1951
K O Ft S<fc cong6s..iy2t;
K C Ft S & By ref g 48 1936
Registered
1936
St Louis So nee Illinois Cent
St

Morgan's La

.

Borne Wat <& Og nee N Y Cent
1941
Bntland Ist con g4'-js
But-Canad Ist gu g 4 Has. 1949
Cag Tus <fc H bee Pere Marq
OiJt LateC Ist g s f kis.. 1913
8t Jo<& Gr Isl 1st g3-4s.. 1947
St Law <& Ailirou 1st g 5s. 1990
1996
2d gold 68
St Li <& Cairo nee Mob <& Ohio

L (&

)04»all0

May'OO

137

1939
Consol and col trust 4s .1949
Utah Cent Ist gu g 4s.al91
Bio Gr June 1st gu g 5s. ..1939
1940
Bio gr So Isl gold 4s
1940
GuaniDleeil

St

HI)

Bange or

W div 1st p 6s '30 Nl-N

Wac6& N

Rang* .'\

Weelc^s

Fridaii

Bid
Bigk Southern Pac Co ( Vontinueii
H * TClstg58intgu..l937 J-J 112
106
Consol g 6s int guar. ..1912 A O •
Gen sold 48 int guar. .1921 AG 90

100

& Meet
RloUr West let g4s
BicU

Boch de

106

1

nee Soutli Ky
net Southern

Dau

ife

Ltoto

N»v'9T

117

1114 "e

1997
Registered
Jersev Cent coll g 4s.. .1951
Beusselaer A Sar Hef U & H
Ricli

BOM>s«

STOCK EXCHANGE
Week Endinq Nov 13

N. T.

1st gold 6s

92
116'«119

M g 63.11>J0

Cm

Utah Av
Aue'O:'

HO

\2\H

68....1i)21

Ci-eek rejf jfijar b8...193v;
Pltld
4 St L See Penn Co
Pitts Clev A To! 1st g t53..19-^2
Pitts Ft
at Cli
*V« Penn Co
19\.'-'
Pitts J luio Isl goid t>s
Pltts it L. Erie 2il g 5s... 01928
Pitts AlcKees <b Y Hieii Y Ceu
Pitts Sli & L E Ist g OS. ..1940
1943
1st consol gold 58
Pitts .& West 1st g 48
1917
J P M ife Co certJa
Pitts Y <to Ash Ist con 08.19J7
1997
Reatllug Co gen g 4s

January

[Vol. lxxvh.

4

of Cal 1st gu g6s
Giiarantroil gold 5s

Ist OVDSOl

Pme

15

112^ Mar'OO

106>«...

t)li»->l

Pere"Maru— F & P

...
...
...

100
110
9S

UN

Ist

...

U>2

DK

06
102
1

—Concluded—Page

Jiange
Since

l2

Last Sale

ASK Low

(

194S
Consul eoU14s
AUt'i,' Val Keu jru s 4s..,li'4'Cl Jb Mar 1st eii p 4Vjs..li<;(r>
K Kit Bjtelst i:u49g.'3ti
GrKi«: lex 1st xu je4>-js liUl
Sau lib Lewis 1st g 4s.. .1930
J KK A Can Keu 48.1944
PensacuU A Atl -Set; L * Nasli
Peo <)B Kast net C C C <)c St L

Peo& Pek Uu

lleCOTG

MS
J-J
J-J

A-O
M-S
A-O

1014 1014 1014 2 100 lesis
1124 Sale 1124 II314 113 1124118
105 4 Sale 105 4 1054 10 1034111
100 lei's
1014 Apr'03
101

5434 Sale

108
86

80

Sale

95

100

5334

56

509

104 4 Dec '02
1074 Oct '03
97 May'02
SO
80
98 Mar'02
1094 Mar'03

614

8434J

105

109"%

80

86^

108

109>B

tll4

ll>8i»

i1

J-J

116

A-O
Nov

30

116»8 11 5 4 Oct '03
964 9578 Oct "03

Mar'Ol
J'ly'03

106

1124 J'ly '03

J-J 1074
A-O 1104
J-J 1104

FA

9441011a

40
108

....

112

IIOI4

108
11»»»

'

110411014

110'4

108
86

110

Sale

110
86

Mar'03

M-S

874

85

93»4

J-J

89

Sale

89

89 le

86

923»

39

110

BON U!>>—Concluded.

J

Mucellaoeous
Adams Ex col tr g48

AmDkAImp5s

6'ee

1948 M-S
Cent N J

102410284 1024

AniSSCoot WVag58....1920 M-N

FerryCol8icon8g58'4H FA
ChicJcA St Yard col g 58. 1915 J-J
B'kl'n

M Idgr incomes.. 1911 A O
Hoboken LAI gold 5s. ..1910 MN
Mad Sq Garden Ist g 58. .1919 M-N
Man Bch H A Lgen g 4S..1940 M-N
UelM &

101

4 10«

73

1024

76

10034 J'no'02

1004
80

Sale

73
111
76

Mar'03
Mar'Ol
81

50

Feb '02

64

72

914 974 Newp Ne Ship A D D58dl990 J-J
8978 95
N Y Dock 50yr Ist g 4a.. 1951

89 4 96
91
91
91
Joseph Stk Yds 1st 4 48. 1930
Stat'n * Prop
FA 33 Sale
St L Ter Cupples
13,
1
Co Ist g 44s 5-20 year.. 1917
1
1
13 4
104 104
104 J'ly'03
US LeattaCo8fdebg6e..l913
106
106 1144 S Yuba Wat Co con g 6s.. 1923
1054106 106
1:1
n34J'ly'00
101
Hp Val Wat Works 1st 68.1906
91
91
91 Jan '03
Xf 8 Shipbldg coll A mge 6r.'22
79
89
Aug'03
lif
f g 68.1931
Ist a r 6s g "A"
1932 J-J
23
80
25 4 J'ly '03
U S Red A Ref Ist 8
67 '< 4823 65
tr 8 st«eJ Corp col tr2f1 Ss.ci'M:-; M-N
6«4S8le 66
87 «8
•No price Friday; la teal bid and asked. aDueJan SDueFeb cDue Mar dDneApr i?Dne J'ne ftDne J'ly fc Doe Aug jpDae Nov a^JDae Doo *Op*40B «•!•

AT

75

Oct '03
Sep '03
33

68
33

80
68

St

MN
FA

;

—

.

Nov.

(as

of Business at

Stock Exchanges

Stocks

ending

Jiailroad

Bonds

Par value

Sliares

* 1,1 02.000

76f.421
77J,40><
5StJ,019

Weilnesday...
Thursilay
B^lday

CO.su 0,400
48.005,«60

3.040,'>UO

3.1V21,556 $303,365,000

Total.

$500

1.942,000
2,100,000

1,00(1
1,(100

l,r>;{9,(100

50,500

1,833.500

January

Week ending Nov 13

Bales at
Sere York Stock

$11,000

$11,863,000

1 to

$53,000

1i

Exchange

1903

1902

1903

11,000
$11,863,000

$11,927,000

Total bonds..

$63,000
55.000
19.985,700

$20,103,700

$1,066,650
447.100
590,290.400

$591,804,150

$1,184,400
3,458.9(HI

793,572.650

$798,215,960

DAILY TRANSACTIONS AT THE BOSTON AND f HILADELPUIA

EXCHANGES

Week ending
Nov 13
iy03
Saturday
Monilay
Tuesday

Weduesday
Thursday
Friday

OnlisUd

Bond

shares

Listed
share*

sales

$7,692
18.117
1H.254
18,374
13.189
15.669
89,295

Tot*l

$8,300
30.595
29,100
14.000

1.809
5,8>1
7,208
8,663
9.809
5.653

38,963

2:^,240

28.000

$133,235

Listed
share*

5,476
10,010
16,650
16,771
21.518
17,703

38,123

$30,000
73,300
109,5(10

56.000
54.000
31,200

62,307

109
135
72

>.,

12
54
101

96
88
97

40
90

82
102
100
971a
36

JJ 103Be
58 1909-29
llCommorclal Cable ..100 140
Comnior Un Tel (N Y).25 115
78
Enip & Bay Stat« Tel 100
47
100
Franklin
100 110
1|(iold<fc Stock
1I4ia8, 1905
80
Hudson River Teleph 100
llNorthwosternTeleg. 50 120
IIN Y<fc N J Telepho .100 140
58 1920 See Stock Ex Chang
78
Pacillc <fe Atlanuo
26
Providence Telephone. 50 t
^Southern <fe Atlantic 25 100
Tel Tel & Cable of
1
t....

$354,000

.

105
105

82
53
120

90
123
160
e list

82
ibs"
6

GenEldebgSigS SeeSt'k Exch Uat
Hiu-tford (Ct) Elec LtlOO 225
HKlngsCo El L&P Co 100 140 160
Narragan (Prov) El Co 50 t 95
35
65

100

Preferred

Bho Isl Elec Protec Col 00 130
U nited Electric of N JlOO 19
64 >3

J-D

48 1929

75
21
66

Ferry Companies

A

Weetely BevUvi of Outsi6Le

4
6
B<fiiNYl8t68l911.JJ 106 108
Con 58 1948 See Stock Exch Ust

Brooklyn Ferry stocklOO

Outside Securities
f

Market will be found on a preoeding page.

N Y & E R Ferry stk. 100 75
Ist 5s 1922
M-N 90
N Y Hob con 5s '46. J-D 103
HobFylst58l946M-N {104
N Y & N J Ist 58 1946. J-J 97
{

L

Street RmilwRys

r

KEW YORK

Bid

A»k

CITY

33
Bleeok St & Ful V stk 100
99 >u
fllstmort4s 1950 ..J-J
& 7th Ave stk ..100 242
TB'y
IJlst mort 5s 1904 ..J-D 100
fl2d mort 58 1914 ...JJ 104
Con 5s 1943 See Stock Exch
'B*w8y Surf 1st 68 &n 1924 no7
3d 58 int as rental 1905 i 99
fCent'l Croast'n stk..l00 265
UlstM 68 1922 ...M-N §118
JCen Pk N & K R stk.lOO 206
|[Clir'fr<fc lOthSt stk 100 180
iolife 9th Ave 58 See Stock Exch

,
'

Dry

D K B & 3—

Hist gold 5s 1932.. .J-D
TlScrip 5s 1914 ....F-A

U Eighth Avenue St... 100
liScrip 68 1914 ....F-A
1I42d& Gr St F'y stk. .100
T|42d St M <fe St N AT 100
fllst mort 68 1910 .M-S
t|2d income 68 1915 J-J

•

Lex Av

& Pav F 5s

See St
Metropol Securities See
Metropol Street Ry , See
Ninth Avenue stock. 100

Second Avenue stocklOO
Hist mort 58 1909 M-N
ConsolSs 1948.... F-A
JSixtli Avenue stock 100
Sou Boulev 53 1945. .J-J
So Fer Ist 5s 1919. ..A-O
Third Avenue 6'ee Stock
Tany P <fc M os 1928
YkersStRR 58 1946A-0
aSth & 29th St« Ist 5s '96
Twenty-Th'd St stk 100
f
J-J
Deb 58 1906
Union Ry Ist 5s 1942 F-A
l8t 58 '43 J-J
^ Westchest

W

Street Railiv^ys
Grand Baplda Ry
100
Preferred
100

35
100
Indianapolis St By See
245
J
Hob& Paterson-.lOO
100 la
48gNovl 1949... M-N
Lake St (Chic) El stk. 100
106
list
l8t68 1928
J-J
110
TJLouisv St58l930..J<fcJ
100 la Lynn<fe Bos Ist 58 '24. J-D
266
Minneap St Ry 68 See Stk
120
New Orl Rys Co
100
210
Preferred
100
4I38 1952
190
J-J
list
North Chic Str stock. 100
North Jersey St stocklOO
111 114
48 1948
M-N
98 100
Pat Rycon 68 1931.. J-D
405 410
2d 68 1914
A-O
105 106
Rochester Ry
100
410 416
Preferred
100
70
75
Con 5s 1930 See PhUa
105 108
2d 58 1933
J-i»
90
95
So Side El (Chic) stk. 100
k Exc list
Syracuse Rap Tr 58 1946
Stk E X list UnitRy8(StLTrans)100
Stk E x list
Preferred
100
190 200
G«n 48 1934.... See Stk
205 210
UnitRysSanFran SeeStk
no2 103 Wash Ry <fe El Co.... 100
§110 111
Preferred
100
175 180
48 1951
J-D
«108 109
TlWest Chicago St
100
no5 108
HCong 6s 1936.. ..M-N

Exch

108
109
116
405
103
116
109

Ask

42
83

50
86

66

?no
402
102
115
108 la

list

20
67

5
99
113
113
Exch Ust

90
au
«111
«

734

27

79
90
18
69 12
{121
}

noo

70
92
bst
(!101

92
i

991a

13 12
59

Exch
Exch
91a

i

38 Hi
72
48
78

list

107
108

Bid
Phila
18

<fe

&

23d Sts Ferry 100
Ist mort 68 1919. ..J-D
lyUniou Ferry stock .100
Hist 68 1920
JI-N
10th

{

Railroad
Btiffftlo & Susq pref ...50
Chic Peo & St L pret.lOO

40
97
30
91
85

77
95
104
108
101
60
100
35
92
87

Deposited stock
21a
71a
Undeposited stock
71a
Prior Uen g 4 ia8'30M<fe S {102
106
82
Con mtg g 5s 1930. J&J
88 la
991,
16
Income 58 1930
22
21
Ch B I cfe Pac 58 See Stk Exch Ust
70
Erie conv4sAprl'53A<feO { 86
88
12819 Mex Cent deb 3-48 (w 1).
62
86 14 87
Northern Securities.. 100
73
Pitts Bess & L E
32
50 t 30
93
Preferred
73
60 t 70
Va <& Southwestern. .100 20
30
102 1?
94
Indastriai and nilscel
100 Hi
14
AUlance Realty
90 100
100
60
UAUls-Chalmers
7
8
100
list
UPref erred
60
75
100
list
4S
IJAmer Bank Note Co. 50 t 46
3I4
11
American Can com. ..100
31s
40
2734 28
Preferred
100
73
American Chicle Co. .100
90 100
52
Preferred
80
85
100
85
la
American Elevateii
Amer Graphophone...lO
3
41a
Preferred
8
9
10
Am Malting 6s 1914.J-D 98 99
Amer Press Assoc'n.lOO 75
85
107
Amer Shipbuilding.. .100 20
28
h list
Preferred
8814
85
100
X Ust Am Soda Foun com.. 100
2
4
280
1st pref erred
65
75
100
2d preferred
14
17
100
105
American Surety
50 160 165
list
Am Strawboard 68. ..F-A {.... 95
AmerTobac(io (X)m... 50 150 250
111
UPreterred
100 126
108
Am Typefo'rs com. ..100 30 32
106
Preferred
90
93
100
135
Amer Writing Paper. 100
2
21a
160
I2I3
Preferred
11
100
112
58 1919
68
69
jj
UBamey <fe Sm Car ...100 18
26
loo 115 125
1] Preferred
50
Bliss 0)mpany com
50 140 160
86
Preferred
50 140 160
list
Bondcfe Mtg Guar. ...100 275 300
",« Borden's Cond Milk.. 100 117
120
96
Preferred
100 105 108
8I7

27 H(
82

\

Cent TTnion Gas let os... ilOSHz
Con Gas (N Y) stk. See St k Exc
EquitGascon5sl932 See Stk E
HMutual Gas
100 260
New Amsterdam Gas

Cramps' SlufcKn BldglOO
IH^nielblo steel
100
UPreterred
100
T! Diamond Match Co. 100
Donilniou Securities. 100
Electric Boat
100
Proferred
100
Electric Lead Uoduo'n.50
i'relerred
Electric Vehicle

Preferred

102

20
3'e

291a

128

60
II4

1

51a

8 Hi

Klectro-Pneum'loTran
Kiuplre Stool
100
Preferred
100
IK^enoral Chemical ..100
1|Prelerre<l
lOO
Gold HUl Copper
1
Gorhani Mlg Co com. 100
Preferred
1 00
Greene Consol Couper.lO
Guggenlioim Exploriili'n
1

li»
7

10

9^
46
65
100

55
94
i»

125
125
14»8

120
10 "a

Ilacken.sacki\leadow8l00
Hall Signal Co
100

Havana Commercial. 100
Preferred

4

30
128iu
16
24

20
48

50
100
100

14

H5
16
35
21

8

100

14Tg
i:!0

Havana Tobacco Co. .100

16
19

Preferred
100
Hecker-Jonea-Jew'l Mill

30

36

M-S

95

100

1st 6s 1922

Herring. Hall-MarvlnlOO
1st preferred
100
2d preferred
100
Hoboken Land<& Imp 100
1I5s

M-N

1910

Houston Oil

1

3

30

40

4

8

200
{102

105

2

5

100

15
25
100 115
9018 99
140 145

Preferred
100
Hudson Realty
Interboro R T (full paldl

i^

4

17

19
100

95

lOia

8

I8tg5sl951

36

J-D

Ist 68 1948

37

6

International Silver. 100
Preferred
100

9
35
101

30
{

John B Stetson com.. 100 165
Preferred
100 130
Kitchener Gold Mining. t
^
%
Lanston Monotype
20 t 71,
«^
Lawyers Mort Insur.lOO 150 160
Lawyers' Title Ins. ..100 270 280
LightFuel<& P of WVa 100
301a 31Hl
HLorUlard (P)pref ...100 110
Madison Sn Garden.. 100
12
2d 68 1919
M-N 50
Manhattan Transit
1
20 t
'«
Mex Nat Construe. pflOO
5
6

Monongahela

R

Coal. .50

Preferred
Mosler Safe Co
National Carbon
Preferred
TTNat Enam & Stamp
UPreterred
National Surety

50
100
100
100
100
100
100

NewBrunsCannelCoal 10

\

Gas Secnrities
NKW YORK

275

Companies

NY& Q El L&PowColOO

Ask

Bid

Internat'lBanklngColOO
Int'n'l Merc Marine. 100
Preferred
100
140 145
Chicago Edison Co... 100
Col tr deb 4 'al922op'07
Edison El lU Brk 48 N Y Stock Exch International Salt
100

sales

3,660
10,323
13,925
7,260
10,595
6,544

65

78
100

OliesA PotoTeleph..lO()

Electric

Bond

Unlisted
shares

90
60

Tclearr JSc Telephone
AnierTelogifc Cable 100

Am

Philadelphia

Boston

12

97

{

&

—

$53,000

100

Industrinl and iHiscol
Consol Tobacco
100

ConlTobau deb 78'05A-O {101

103
16
99

Gas

Moll Tolcpli of Hutlalo 100
.So Amer .100
"lUeutral

1902

140.509,177
164,272.403
C.392.002
3.621,558
Blocks No.Hliares
*303,355,000 $608,459,450 $13,119,'*46,425 $15.632,8 19,S0O
Par value
^587,900
$422,8i>0
$5,000
Bank shares, par..

BOKDS
Qorernnieat bonds
State bonds
BR. aud mis. bonds

A-O {100

51
Madison Gas 6s 1926.A-() {106
Mowark Gas Os 1944. Q-J {135
Newark Consol Gas. .100 70
5s 1948 See Stock Excli list
8
llOAIudCNat&lll .100
51
J-I)
Ist 6s 1926
50 t
ProvUlenoe Gas
92
St Joseph Gas 68 1937. J-J
85
StPaulGas Gen 6s'44M-S
Syracuse Gas 58 1946. J-J { 94
United (*aa<&Elec,NJ 100
100
Preferred

Nov 13

Ask

81

100
100
1j I'rflorro*!
lji(ay'oGn8lst68'24.M-N
l.oRAWabVlat(ia'25.J-I>

Bond*

$11,000

Bid
60

A-O

1l5al922
IlliUClodo

S

£7

B<nidi

#1<»,(!10.250
42,7;l7.tJoO
71,9(56,3(10
60,0(14.75(1

210.56,T
11J.1244

Saturday
Mouitay
Tuesday

State

<te

X865

Securities

Jackson Gas Co
5s g 1937
Kansas City Gas

TBA_NSACTIONS AT THE NEW YORK STOCK KXOHANQK
DAILY. WEEKLY AND YKABLY
ffeek

6

THE CHRONICLE

14, 1903.]

Volume

—

6

llNew Central Coal

t
t

17>4

90

HOntario SUver
100
Otis Elevator com
100
Preferred
100
Pittsburg Brewing
50
Preferred
50
Pittsburg Coal
100
Preferred
100
Pitts Plate Glass
100
Pratt & Whitn pref.. 100
Procter <fc Gamble
100
Preferred
100
Realty Assoc (Bklyn)lOO
Royal Bak Powd pret.lOO
RusseU & Erwln
25
Safety Car Heat & Lt 100
Seminole Mining
5
Simmons Hardw com 100
Preferred
100
2d preferred
100
Simpson Crawford Co 100
Deb 8 f 6s '24 op '05.. J-J
Singer Mtg Co
100
Standard MilUng Co. 100
Preferred
100

46

42

3

105

t

110
125

15
40

100
100

UPreterred

3

t

20

N Y Transportation... 20
Nicholson File Co
100
Nor Am Lum'r & Pulp 100

102 19
25

87
14
80

85
11
70

New Eng Con.sol Ice. 100
N Y Biscuit 63 1911. M-B
N Y Mtgecfe Security. 100

TJNew Y'ork Dock

28

20

4

5
1671s

41a

25
t
t

76
24 ij
40 14

6
5

27
82
24^8
401a

18-t

59 'e 60i|
105
115
97
102

360
197
104
98
t

370
201
110

.

99
63

61
168

,

163
I4

t

•

"1

100

115

^

120

300
3 "a

16
05
650
27
115

5s

30
80
340

,

5
18
68
655
33
130

S tandard oii of "n J . 1 00
Standard CouplercomlOO
Atlan Ave 58 1909.. A-0 {100
H&P
Exch
Preferred
100
Con 58 g 1931
A-O 108 110 N Y <fe East River Gas—
Storage Power
1*
50 t
^
Impt 58 See Stock Exc hlist
Ist 5s 1944
J-J no9
Swift & Co See Boston St k Exc h'g»
E 5s 1933. .A-O 99 103
B&
ConsolSs 1945
J-J {105
{100 101
Ist 5s 1910-1914. ...J-J
Brooklyn City stock.. .10 231 233
Nor Un Ist 5s 1927. M-N no2
Tennessee Copper
25 t 291a 30
Con 58 See Stock Exch list
IJStandard Gas com ..100 125
85
90
UTexas & Pacific Coal 100
•3kln Cro88tn 68 1908. J J 102
yPreferred
100 150
Ist 6s 1908
A-O {105 107*1
Bkn Hgta 1st os 1941 A-O 105 106
ist 68 1930
M-N {110
Title Guar<feTru8t...lOO 410 425
Bkin Q Co & Sub See Stk Exch list
150
Title Ins Co of N Y..100 140
OTHER CITIKS
Bklyn Rap Tran See Stk Exch list
11
12
TrentonPotterles comlOO
Ret g 48 2002
J-J i 76>2 78
Amer Light <fe Tract. 100 42
i<0
Preferred new
8S
100
iOoney Is. <fc Bklyn ..100 350 360
Preferred
84
100
85
Trow Directory new. .100 75
l8t cons g 4s 1948.. J-J
96 100
Baltimore ConsoU(iat See Bait
"«
Union Copper
10 t
H
Brk C<fe N 6s 1939.J-J 111 114 Bay State (ias
•8
50
80
U nion Switch & Signal 60 t
Or St&New l8t 58 '06 F-A 100 102 Binghamton Gas 58 1938 { 93
105
Preferred
60
Qr'pt i&Lorimer St Ist 68 102
i«
Bultalo City Gas stocklOO
I4 Union Typewr com. .100
4
6
Camden Land
96 100
3 t
Slings Co. Elevated—
Ist 5s 1947 See Stock Exch list
CeUuIoid Co
1st preferred
100 103 106^
100 115 116
l8t 48 1949 See Stock Exch Ust
Chicago Gas See N Y Stk Exch list
Cent Fireworks com. 100
2d preferred
16
23
100 103 106
KMsau Blec pref
100
3I4
83 Hi 84
Cincinnati Gas & EleclOO
90
92
Preferred
3»«
55
65
Unit Boxboardifc Pap.lOO
100
68 1944
A-O 109 112
Col Gas L <fc Heat comlOO
100
Central Foundry
la
1
Preferred
100
100
211a 22
Ist 48 1951
.See St k Exc h list
Preferred
100
99
Preferred
1
5
10
100
2
U S Cotton Duck
100
N Wb'g<fcFlatl8tex4>as 100 103 Consol Gas (N J) —
Deb 68 1919 op 'OlM-N 45
20
48
U S Envelope com... 100
Steinway Ist 6s 1922.J-J ill4 116
Ist 5s 1936
JJ 85 88 Century Realty
65
UPreterred.
70
106
100
100
Consum Gas (J CiXyyCnesebrough Mfg Co 100 440 460
US Light <SB Heat.... 10 t 5
V1st 68 1904
OTHER C'lTlKS
M-N {100 la 101
Chic Pneumatic Tool. 100
20
23
HU S Red & Refining .100
1TD etroit City Gas
50 t
90
95
TIClamn(H B) 1st pref 100
100
II Preferred
Buffalo Street Ry—
Essex & Hudson Gas 100
86 -a 871,
52d preferred
90
95
100
TJU 8 ShipbuUding ...100
let consol 5s 1931. .F-A Jill
113
Fort Wayne 6s 1925. .J-J
62
66
llPreferred
100
IfCommon
90
98
100
Deb 68 1917
A.O no4 107 lIGas & El Bergen Co 100
Col & Hock Ooal<fe I pt 100
Bonds See Stock Exc hlist
60
66
Chicago City Ry stk. 100 162 167
Grand Rapids Gas—
Ist g 58 1917
86
U S Steel Corp new 5s See Stk E X Usl
JJ { 84
Chic XJuionTrac See St'ck Exch list
s
111st 58 1915
F-A {100 10234 Compressed Air Co. 100
%
h ColtrsfSs'Slopt '11 .. {101 lOlia
Cleveland City Ry
loo
Hartford (Ct) Gas L...25
48
50
Consolld Car Heating 100
70
Coltrsf 5s '51 not opt.- {102 1031a
60
Cleveland Electr Ry.lOO
65 "s 69
Hudson Co Gas
100
59
60
Unlversal Tobacco... 100
i
15
25
2
TiCons Flrew'ks com .100
Columbus (O) St Ry..lOO 8334 85
08 g 1949
See Stock Exch hat
Preferred
2
UPreterred
65
100
55
100
Preferred
loo 100>2 1021a Indiana Nat & lU Gas—
Cons Ry Ltg&Refrig.lOO
334 West & Bronx T &
Gu 150 160
3
Colom Ry con os See Ph ila list
1st 68 1908
M-N
53
Consol Rubber Tire. .100
lia Westingh Air Brake.. 50 1130
Crosst'wn lat5s'33.J-D 106 109
Indianapolis Gas stock 50
70
Debenture 48
8
White Knob Mining. 10 t 8I2 10
Detroit United Ry,S'ee Stk Exch liat
1st 6s 1920
M-N {
105
Cons Storage Battery! ou
10
Worthing Pump pret.lOO 105 108
{ Buyer pays accrued interesu
1 Price per share.
t Sale price.
a Bs rights.
11 Sells on Stock Exchange, but not a very active security.

•"

'

3

BBOOKLTS

1st consol 58 1948. .J-J
NTT G EL
See Stock

10434

W

•

.'

;

.

,
]

t

:

J

;

".

''

. .

1

M

BOSTON SrOGS EXOa'Wir.-St^ck
Share
Aor. ?

64^
90

65

140 V,
••23:>

141)34
-'40

ITl
•171

ITl

••Jt>5

300
136

90
248

140'ol40»i
•235
•171

172

I'liurstiai^

300

295

145

136

•*".r."i86"

•'.".".!1!

iss"

•lt!7

'167
•278
136

300
145

'171
295
•136

....

800
145

•

Last
•295
•136

--'80

••JT-i

•13o>iil37

•40

167

'ii;7

ItiS

'278
'135

136

136

135

137

Last
137

45
Vj

•S»4

76>a
9

9

it'

195».,

195>-jl95>a

•2l3"2a6"

18

76

76

'213

••JOO

20*2

200

•75
•70

77
72

•75
72

40

76>-j

18*8

196

9'.

226
200

200

75

77
72
40

'/is" 226'
200 200

77

70
40

70

10

'70

72
85 "o
•163

"40

78
95
72
85 S,

72
72
84 Vj 84 S;
•163

•90

91

91

•109

'109

•40

7114
86>4
...

90^4

yO
109

91

lU

le J4t>

Xov'03

Vrt

-171
171
S a le 171
•Sale 116
Salt iSo

•167
168
-S ale 3(iO
136
135

Oct '03
135
iiai-'o:
J 'ly '03

18
77

195

194

2oO

200

75

86>8
•163
90',

86»8

•70

Aiig'o3

Oct '03

-200

20^

70^1

9014

7''

Oct '03
Oct "03

Feb "03
Oct '03
69:'4

70',

86

86

Lait Sale

109 Ha 109 Hi

N0VO3

•70

72

6934

195

19434

Last Sale 166
Last Sale

Last -S tt I e 4:1
Last Salt
Last Sail So
Last Sale

70 'h

109>i

18

78

9

Last Sale 76 Ha

70

140

Sep Mo
296
145
Nov'03
Oct 'di

296
•136

40

70

7934
•>5"e
'163

89

248

77
72

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89

18
77

18

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9

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'213

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77

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140 Hi 13934

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77

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226
200

t

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75

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6334

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13

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145

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BOSTON STOCK

J-riiitiu

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171

'290
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248 249
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240 *
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240
171
171 171 •171 172

85

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249

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STOCKS

I'er C'enliiiii l*rii-o!«

Wedntsdait

J/oiiday
.Vor. y

Saturtiati

— Nol

I'rii-ea

"^e^ord, Daily,

•90
109

91
109

164\i

90
109

Sep

'0

90 Hi
109
Nov'Oo

Last Sale I'oHa
Last sale JS Is

J

'li'

'03

Wore Nash & Roch..lOO

145

145

KiiilrondM
Atch Toj) »fc Sauta FelOO
Do pref
100
Boston & Albiiny
100
Boston Elevateit
100
Boston A Lowell
100
Boston A Maine
100
Do pvef
100
Boston ifc Providence 100
Chic J unc Rv <fc U S V 1 00
Do pref
100
Con it Mont Class 4.. 100
Conn ifc Pass Hiv pref 100
Connecticut River... llM)
KitcUliurf: pref
100
Houston KUtric com. 100
Maine Central
100
Mass Electric Cos
100
Do pref
100
Mexican Central
100
N Y N H & Hart.. ..100
Northern N H
100
Norwich ife Wor pref 1 00
Old Colony
100
Pere Marquette
100
Do pref
100
Rutland pref
100
Savannah Elec com.. 100
Seattle Electric
100
Do pref
100
Union Pacific
100
Do pref
100
Vermont it Mass
100
West End St
50
Do pref
50
Wisconsin Central. ..100
Do pret
100
.Uisoellaiicous

•10
69

10
67

11

69

3

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10
69

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97

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27
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8
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tt

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97
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123

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734

243

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123 Ha 123 Ha

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Oct '03
Oct '03
8

78H!

116>^
11934

67 Ha

Last Sale 4\
Last Sale

•534

•101Hil02
•
25

734

67

8

34'4

4
14

119
124 Ha

S
67Ha

8

6

69

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215

101>8l02
25

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4
14

4
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14
14
114 Ha li7'4
118^4 119V
8
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9=8 .A.mer Asricul

9

70

Last Sale

•

•1

•67

934

9

138

•216

9»8

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78 H
188

123 H) 123 Hi •123

64

4*4

242 Hi
150

3334

123>2

52

•7 Hi
8
67 Ha 67 Ha
-3 Ha
4'4
115

115
8 "4

•l.:2

•101

7V

67 Hi

r

242
148
34

34
34
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183>4 lS.9
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127

7's

242
149
34
7^4 78 K;
187 Wf 190

242
149

242
149

70
4
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14
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11834 119
125 Hi 127
-3 Ha

3H;

119

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934

7Hi

101

Ha

102

184

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y

J'ue'03
21 2

Ha

3
96Hi

85

44

44 Hi

29

29

7Hi

*101

102
Aug'03
Sep '03

2

95
44
29

Last Sale
Last Sale 71\
Last Sale 10
Last Sale 37^
lOKi

lOHi

50 '8 52 H,

Last Sale
.-7

Ha

•75

214

•7

Last Sale ^o-i*
Last Sale ^6
"2

l^s

Aug'03
122Ha 122 Hi

lOHa
5138
•75

8 Ha

2
95Hi

44
29
Oct '03
Oct '03
Oct '03
Kov'03
10=8
02>4
:'roT'()3

7Ha

80
76
Last Sale 70
Last Salt 31

8
76
Oct '03
Oct '03

Do

Weekly and Yearly
Jiange lor Year

Sales
0/

Hange

Tor IVevious
Yearciyo-J)

1903

the

Week
Sha rei

Lowest

Lowest

Uig/iest

AuglO 89^8 Jan 10

74-'Vi Jan
96 Ha Sep
103 ij Jan 10 95 Hi Mar 106 Sep
J'nelO 262'- Feb 4 2 06 1.1 Dec 2(!6 May
Aug r. 154 Jan 5 149 Hi Dec 173HaMar
Aug 7 250 -•Vpr S 236 J'ue 248 .\pr
161 J'ue 5 195 Jan
190 Ha Nov !i)9 -Vpr
170 J'ne
177 .\pr22 171 Oct 183 Apr
290 J'lylT 305 jMarl3 297HaJ'uc 307 Mar
133 Sep 2 157 Jan 6 150 Sep
Mar
115 J'ly 17 125 Jan 2 1-.
Nov 36 JIar
185 Oct 28 196H!Mar24 190 Nov :02 Jan
160 Jan 5 170 iMarlii 160 J'ne 60 Ha Feb
270 Aug 7 286 Feb 19 280 Oct •295 Feb
131 J'ly 20 143HaFeblO 141 Dec 148 Mar
42 Mar 9 42 Jlar ;i 47 J'ly 50 J'ue
173 Hi May 15 180 Feb 1(1 172 Jau 178H>J'ly
890 17 Hi Sep 25 373^ Feb 18 33 Dec 45^8 Apr
492 75 Ha Nov 7 96 Jan 7 92 Jan J9 J 'ne
310
8»8 Nov 13 28=8 Apr2,22 Hi Dec 31 Mar

5,705

54>4

Aug 10

117 85
35 244
291 134
'""66 230

.

.')

165

May 21
May 15

220

279

Sep 25 232

tlSSHa

17 196
"14

74
6S
30
7

Aug

(S

J'ly 25

Sep 25
J'ly 15
J'ly 8
Jan 5

75
91 Ha Oct 14
6634

Aug

•225
Jan 7
173'- -Mar 3

91

Feb

4'4

4

()8

85
71
25

Jan !' 79H!Mav
Jan 20 6 4 's Dec
Jan 12 25 Nov
843^ Jan 10
58 Jan
104 Ha Jan 6 103 Oct
1041- a J an 9
93=8 Dec
95 Jan 27 86=8 Mar
178 Feb 2.-. 172 Jan

8
S3 Hi Oof 14
Xl62 Sep 8
115 87 Hi -Vug
97 Feb 10 92 Hi Oct
102 108 Sep 10 116 Feb 14 111 Hi Dec
15 Ha Nov 6 2638 Jan 15 19HaJan
38'* J'ly 23 52 Jan 15 39^18 Jivu
144 Sep 24 150 Jan 14 145 Nov

2,510
46

9 Nov 13 26 Fob 11
185 67 Nov 9 80>4 Feb 14
3 Sep '23
154
7 .Mar 2
190 12 Sep 26 24 Mar 4
7,'.t34 10738 Oct 12 134^4 Jan 8
185 116 Augll 122 a Feb 18
3,66ri 114 Ha Oct 8 169HaFebl8
634 Oct 15 14' ! Feb 24
115
392 65 Oct 15 79i4Jan22
53^ Jan 22
3 Ha J'ly 2
115 Oct 23 12 V Jan 6
6 Ha Nov 6 62i4Jan 2
1,895
oHaCct 10
83., Jan 23
100
74 225 J'ly 24 310 Feb 17
Sep 2^ 204 Feb 16
50 138
340 30 J'ly 24 •4834 Feb 20
88-8 Fob 17
230
269 16434 AuglO 190 Feb 2
la Oct 12
1
125
2 Hi J an 29
2434 J ly 10 86 Jan 2
44 122 Oct 19 139 Jan 2
9 Apr 24 20 Jan
121 197 J'ly 10 237 Jan 9
7 Not 7 10 Feb 13
188
31 99 J'ly -27 132 Jan 5
25 J'nell 2034 Jan 15
28 J'ly 8 •2934 Jan 5
_
134 Jan 12
5 Apr 21
50
60-2
91 AuglJ 111 JaulU
692 38 Ha Oct 19 53 Jan 2

100
.\mer Pneu Serv
50
Do pret
50
.•Vmer Suuar Relin
100
Do pre!
100
.Vnier Telep •& Teles;. 100
Amer Wooleii
...100
Do pref
100
Boston Land
10
Cumberl Telep & Tel 100
Dominion Iron di St
East Boston hand...
Kdison Elec Ilium... 100
General Electric
100
Mass'chusettsGasCoslOO
Do pret
100
.Mersenthaler Lino.. 100
.Vlexicjiu Telephone.. 10
N E Cotton Yarn pref 100
X E Telephone
100
Plant Comp new com. 100
Pullman Co
100
Reece Button-Hole.. 10
Switt <fe Co
100
Torringtou Class A.. 25
Do pref
25
Union Cop L'd & Mg. 25
United Fruit
100
United Shoe Mach... 25
219 27 AugU
Do pref
25
7 Sep 30
U S Leather
100
7134 Oct 15
Do pref
100
9 Oct J
U S Rubber
100
33 Jly27
Do pref
100
NovlO
7.-263 10
U S Steel Corp
100
Do pret
100 20,995 4934 NovlU
•60 J.iu 14
West End Land
25
West Telep & Teleg.lOO "'7"7"0 7i.>Novl3
Do pret
146 71 Oct 23
100
67 Oct 26
Westing El * -Mlg... 50
SO34 Oct 1
Do pret
50
iUiiiiiig

4
414

4Hi
4>4

Apr
Dec 217 Apr
May 85 14 Sep

206

1

.May 11

1.

Feb 5
15i8Febll

311- a

95 Ha May 6
18 Ha Feb 16
571- .Jan

9

39 '8 Feb 5
89=8 Jan 7
•80

28
102
108
110

Adventure Con

4I4 Allouez

no

.J

Dec
76HaDec
4 Jan
19

91 J'ly
12514-^pr
31 J'ly

90
110
113

May
Mai
Aug

94

Is -•Vug

178
99
117

J'ly

Mai
J'ji«

3478 J'ly
55 Ha Sep

152 Hi May
32 Ha J'ly
91 J'ly

May

934

21 J'ne 3734 May
12 'a Nov 135 Is Mai
115 Jan 123 Sep
1

!155

Mar

18538

Apr

12
73

Dec
Apr

1714
8O34

Jan
Jan

334 May
4 Ha May
122 Ha Apr 13034 Apr
25 Jiin 79 '8 --Vug
7 Nov
9=8 Mai
244 Jan 285 May
117134 Oct 33234 Apr

36I4N0V 4134 Not

Nov 87 14 Oct

82
170

Jan 190 Sep
Dec
3^8 Apr

1^8

Nov 93HaJ'n«

87
135

Jan 151 Apr
Lee 41i2Sep
Jan 250 J'ly
Jan 10»8Oct

21

216
6

100
26
28

JiUt 177

J'ly

Oct

27

Jan

Jan

30

Aug

II4

Oct

2

Ha

Mai

85 Hi Jan 117

Sep

Jan
29 Jan
III4 Jan
8OI4 Jan
13 Ha Jan
49 Jan
29 Ha Dec

May

46

79

Ha

Dec

57^1

33 Ha .\pr
1

5 14

Sep

91 Ha Sep
19=8 Oct
62^4 Mai
4634 Jau

97 Ha Jaa

72 !> Mai 112HaApr
Jan 12 22 Dec 33 Ha Apr
Feb 28 91 Feb 106 Ha Apr
Feb 2 86 Ha J an 115 Ha Apr
Jan 29 89 Jan 117 Apr

Mar

4

3 Oct 10 18 Jan 2
80
25
3i4Jau 3
SHaMar 9
343
25
37^8 38^4
37=8
100
39^ .-Vmalgamated Copperl 23,698 333, Oct 14 75=t Marl2
50 ieb 9 i'-i Feb 10
Last Sale I
Oct '03 -Amer Gold Dredging 5
_
834
Am Zinc Lead <fc Sm. 25 350 6 Jan 2 1234 Mar21
834
9
9
loSe-'ly-^'l 31 14 Feb 25
Last Sale 16
25
Oct (13 Anaconda
Sep 25
•87 Hi 1
6 If Feb 9
"i'50 •7o
87 Hi Arcadian
25
87Ha
•25
-^pr n •H5 Marl9
Last Sale •50
Sep '03 .Arnold
25
Oct 6 14 1« Feb 10
7
•7
8
"""o's
25
8 .Atlantic
8
21 Ha 2IH1
630 20>4 J'iy24 391- Feb 10
2134
213. Bingham Con Min&S 50
•40 •60 •25
•45
Bonanza (Dev Co)... 10
50 45 Oct f2 90 Maris
8 Feb 3
Last Sale 2H!
2 Ha Oct 13
Oct '03 British Coluni (Lt*l). 5
437 440
74 400 J ly 24 551 Marl2
435
25
435 Calumet <fc Hecla
Last Sale OS
OS EeUlO 10 Feb 11
May'03 Catalpa (Silver)
10
"20
J5Sj 15 H
1,624 12 Jly24 31'^ Feb 1
14Ha
i53b Centennial
'6
534 Sep 23
•6'4
60
9H- J'ly 3
Central Oil
634
25
7
25 J'uel8 •40 Sep 22
40
Last Sale
Sep '03 Cochiti Tr Co recta.. 10
•35
81 Cons Mercur Gold... 5 4,684 •35 Novl3 l^''av Jan 2
»7Hi •90
Last Sale ZOHa Sep '03 Continental Zinc
lOHa^cp 24 16 Mar24
25
43=8 44 Hi
4334
44 H< Copper Range Con ColOO 16,977 37 J'ly 24 75 Feb 13
35 Novlo 48 Ha May 7
3634 3634
777
35
20
35H; Daly. West
361 59 Ha Oct 13 131 -(. Jan 10
74 Hi 74 H< *72Ha
100
74 Dominion Coal
Last Sale
Do pref
2sov'03
100 ""'"2'5 106 Oct 16 1181-; Feb 6
2 Oct 2
Mar 17
»2
Elm River
2'4
12
7 J'ly 23 14 Feb 9
320
Franklin
25
7Ha
7Ha
7Ha
5 1« Apr 23
334 J'ly 24
4'8
Grauby Consolidated. 10 1,S45
43l6 43l6
3 Jan 12
••75
35 •62 Ha Oct 9
Guanajuato Cousol.. 5
1
1
1
171-; Feb 9
5 '4 J 'ly 1
20
Isle Royale (Copper). 25
"5Ha
6H1
3 J'ly 24 18 Feb 6
"4 Ha
20
.Mass Consol
25
5
5
*4Hi
2 Ha J an 231
75 Sep IS
Last Sale
25 "
Nov'Oo -Mayflower
""51
57. J'ly 24 11 "-a Feb 9
25
7
6
6 Hi -Michigan
•6H1
J'ly 24 58
Feb 13
•36
552 3;l
25
36 .Mohawk I
36
36Hi
8 Marl 3
•2
2 Nov 4
.Montana Coal <fc (;oke 25 1,100
3
2H,
2=8 JaulO
•40 •60
60
Montreal <fc Boston.. 5
800 •60 Novl3
•GO
75 Mttyl4 lis Jan 231
Last Sale 76
25
May'03 National...:
"1
..
2V Feb 9
•75
•75
638 •60 J'nelit
Old Colony
25
IHi
Oct b 231., Feb 9
_
-9
5
530
934
934 Old Dominion (Cop).. 25
55
25 1,024 43Ha'''ly24 79 Feb y
5o
55
56 Osceola
180 16 J'ly 24 34 Feblu
ParrottiSilvcfe Cojip) 10
18
18
]7H> 17Hi
3 Ha AuglO
7V Feb 11
151
4
3'8
25
•3H»
3'b Phcenix Cousol t
•85
17 80 Oct 15 120 Ha Feb 6
25
90
85
85 yuiucy
4 FeblC
•1
37 •75 Nov 13
•75
1^25 Rhode I.sland
25
1H<
3 Jan 23
1 J'ly 24
200
134
-Santa Fe(Goid& Cop) 10
•IHi
8I4 Novlo 14^8 Apr 23
10 2.219
"rtHl Shannon
8H1
8H1
75 J'ly 24 190 Feb 6
321
86
25
86
85
88 Tamarack
100 •25 N0VI3 1«1« F'eb 9
•25
Tecumaeh
25
1734 J an 28 3334 Marl 2
Last Sale 33
25
J'ly'03 Tennessee
70 Sep 2 106HaFeb20|
Last Sale O
25
Sep '03 TriinouDtaln
4 14 J'ly 24 14 Feb 9
•5
554
5
5
25
5 Hi Trinity
13 Oct 23 3134 Jan 2
Last Sale 13
100
Oct '03 United Copper
17'« 17-\
17H.
173b Umted-States Jlining 25 i;.Vl9 16'4 J'ly24 27H; Feb 9
Mario
834 NoVi3 17
83,
834
410
8'4
Unit States Coal <fcOil 25
9
an 24 33=8 M8y23
4^85 3,220 22
27
27
27
27
Utah Con (Gold)
9 Feb 9
2HaOct 14
305
2^9
25
SHl
2'e
2»B Victoria
7»8
700
5Ha.)'ly24 H434 Mario
Winona
25
8
8
7'e
•(15
190 61 J'ly 28 77 -Mar 12
64 Ha 65
25
66 Wolverine
2'g MariT
75
•75
190 •75 OCT 22
25
SV'yandot
87Hi 1

*4

170

Jlarll 230

21''>- !

Apr
Jan

Jan 2,54
Jan 175
Jan 238

210

Chem.lOO 1,932

pref

Highest

12 Ha Dec (i24Ha.\pr
434afai
2 Aug
53 % Nov 78-8 Fel>
1

Ha

Nov
Dec

21

N^ov

334

Apr

16 Is J'ly
35 Jan

au

I314

37 Ha Dec

Mar

1

Jan

Dec
20 Ha Jan

9
3934

Deo
Apr
Mai

3

Ha

J

6

40

J'ly

5 Ha Sep

'20

10 Hi Mar

Dec 650 Fel>
10 Apr 12 Jan
Jl Jan 28 Mar
6i4Dec
834 May
•25
2 Jan
Apr
2i4J'ly
138 Jan

420

15
4334
I8I4

Oct

1934 J'ly

Mar 65i4 0ct
Mar 56 J'ly

Jan 146 Ha Sep
Dec 119 Jan
5 Ha Mar
IHa Jan
1534 Feb
7 Ha Dec

54
113

2 Ha
934

Dec
Dec

12 Ha Dec
1 Ha

7

d27

Jan

Feb
Ha

-May

3% Mar
Nov dri^4 Mar
Sop

Jan

3

J'ly
1^8 J'ly
•75

Jan
Dec

3

Dec

1

5^8

25
21

49i4Sep
6 Oct
434
134

Mar

Jau

4igMar
14 Ha Nov 25 Feb
47 Ha Nov 8934 Feb
21 Nov 34 Feb
5

May

100 Nov 147 Feb
3i4Mar
IHiJ'ne
4 Feb
IHa Sep
18 May
8 Nov
140 Dec 281 Feb
50 Jan
3Ha J'ne1338

Mar

(134

Jan

8
27

Dec

I314

Sep
Jan

3538 J'ly

23 Deo
Nov IS I4 J'ly

13
19HaJ'ly
4 Dec

42

Jan
Jan

•50

Nov

dl

ISHaJ'ly

Feb
ISHaMar

1-25

•27i4Feb
7

6
65

Oct

Aug
Deo

134 J'ly

Before pay'l of asaess'ts called in 1902. -Bidand asked. llNewstock. tAss'tpaid. JEx-rights. aEx-div.<fcriglit«

S

5

14

>s^OV

WeeK-s

BOSTON STOCK EXCH'GE

Maine

Bo^^tnI! A:

MS
AO

J'lyl'jyo

Nov

.

I'.'OT

99

99 "9
mG

»t>

J-.1

I,

113

Bur *

ll'JV Oct,

iloK

<te

1st

A-O
"s.liUO M-X

S

W8

t

F:\

ltl-J7
1'.tJl

Div jios

Hi

99 7g Sale

MX
M-S
J-J

94

1U6

1',I4','

Coll trust rettindius;
Ch Mil d; St P Dub 1)

t:

A-O

4sl!i40

123'

J-J

(is., liijii

Ch M <fc St P Wis V iliv 68l9_'U J-J 123
Chio& No Mich Ist iru os.l'.'Sl M-X
Chic it W Mall gen js
lyjl J-D 1U5
Coiicoril <fc Mont cous 4s..l'J2U JD
Conn* Pass K Ist f;4s...iy43 A-O
Cnrrt-ut Kiver 1st 5s
19i!7 .\-o
P' 'ir Hapi
1st 4s... 1940 A-O
uiou Coal 1st lis
.'IHl:-!
1'JiMi M-S
h..rn 1st gold 63
FUcUburg 4s
1904 .VI-

W

9;

'

Unstamped

1st

Gt Nor C B & y
Registered 4s

19:;:!

tis

coll tr

SS

9S

lOU'c

98
90

106
Sep '03

1(12 ».
1(153)

99

96

"-J

6 103 >2 10734

9s
12^

90
125

J'ly'o;.
Oct '03

127'-j

1123

100
102

lO-JKil

1..

>-j

112l4ll2'4
100 103-4
95 Ha 100
105 11
105 107 14

135
135

135^2 13S
135 -j i.M

lo.jV; Oct '03
13.1'-^ Sep '03

...

9'2% bale

92 Sg

92

I

43

!57'4

«9'8 Oct '03

19-.'l

Last Sale

Ask Low

A-O

AO
J-D
MX

M

97
108
118>4Salr
95
80

1

Kan (.'St J

CB

l»l 78.. 1907 J-J
1, H6i Ft Sin Idgr Ist 78... 1905 J-J
.Maine Cent cous 1st 7s. ..1912 A-O

Cons

1.

A;

Ist 4s

l8t6s.li»-J5

107
101

107
101
122
lOJ

«-j.
.

'•..

94'-.;

87 V2 94

interest in addition to the purchase price for

:ill

100

Ocl

13

96
102

..

119

Mar'02J

'(121

90
96S»
102 Si 106
107 107

Nov'iCi;
I102Sj Sep "03
Felj'ii.;,
|107
1013- Nov'li3i

loo's 102

Sep

101

92 «, 106
98 111

S<]

Sep -02

,101

105

9sM01i»

•():;'

101

!loii
S;

Oct '02
J'ne03l

.

iirj-H,

and

lOnSjlOS

.'

102^4 .\pr'03'
J'lv'03'
1102
Sale
bsSi
99 S;,
H7'4 J'ly '01;
i

latest bid

11S>^

J'ne'02|

933fc

98 Hi

Si

102 Si 106
'l01Sil03'4

90

I

J-J
J-J
J-J

102

Sj

ll(i6SlO<J'»
..I

J'ly '03

1102

F-A

lo;<

]1I2V»

102

I

Mar'o:;.

105
100

MS
MX

26
10
75

102'-j 102S»-

102^4 Oct 'oa
101 'i! Oct '<).'.]

102

7&'<4

's

75

.XUK'ICJ

'8

Oct

US

'o:^!

112 MaVOl
loo's fict '02

100

lOL'
'1

6.«'-.i

'03

"j

,119

V123'4

14

106
Si.
Si

19(j:; M-N
Venuont A; Mass 5s
West End Street Ky g 5s.. 1902 M-N

ynce Friday;

J-i,

104

Jl
'!•_'

75 J'iii-'i».;|
104 M.-ii'il-J
95 h Nvv'iili
102 'let '11:;
1 02 Si Oct 'o:-;

MX

.Vo

'H

102

101

91

MM "a

'>7S.'111'».
.

'-J

102

Ik

99

1116'

6.-5-.,,

103

II

104
112S»
124 '4.

lot!

109
114
95
79

t

i

9 (4 Sep

-

-

Oi

14\ Oct

1902 i.y-N
Uutland 1st 6s
Kutland-Canadian 1st 4sl949 J-J
1st cons 58. 1952 J-J
1930 FA
Seattle Elec 1st g 5s
Torrington ist g 5s
191>i M-S
Union Pac
Igrg4s.l947 J-J
1911
Ist lien conv 4s
United Fruit conv gen 5s 1911 .MS

Boiid-i.

Si

I

loo
96 S' 1"1S»
r26S: 130

I

70

68

FA
FA

Bostou

Si

)

'

II

9('>»

96 Auc'113
79 Oct '03!
106 'a .M..\ii.;

AO

1914
Gold4Hjs
1916
Gold debenture 4s
Gold 4s
1917
Western Telepli <fc Tel 5s. 1932
Wisconsin Cent Ist gen 4sl949
Wisconsin Valley 1st 7s.. 1909

Lvir

J'Iie"03
Sep '03
ll-i's
ll«'4|

114->i

Mi'Mcaii Central cons 48.. 1911 J-J
Jan 1939 Jiy
Isl cous inc 3s
Jau 1939 J'ly
•Jd cous inc 38
.M ich 'relep cons 5s tr rec. 1929 J.J
.Minne Geu Elec con g 5s 1929 J-J
1929 F-A
New Eng Cot Yarn 58
1906
Xi-w Enjj Telepli 68
1907 A-O
68
190» A-O
6a
1915 |A-0
58
1905 J-J
N Y<fcN Englst 78
1905 J-J
1st 6s
1924
Old Colony gold 4h
orcg By A; Nav con g 48. .1946 J-D
1922
Dreg Sli l.,iue 1st g 68
KepubVallev Ist s I 6s. ..1919 J-J

RR&

Su

Jliph

loo
109

A-O
A-O

191'_'

Jianfie

sitice
5=1 JanMaril 1

96 >2 Oct '03
•.HI V Oct '03
126'- Oct '03

Savannah Elec

107
107

111»4 .May '02

48 1921 J-Jj

NOTB— Buyer pa.vs accrued

M

:

1053)
1-.:

100 Xov'03
107 '4 Oct '03
105 14 1:J5>4
loo'e Mar'02

lUU

106
105

.

19-.'7 .M-S
48
Frenit Elk & .Mo V 1st Gs. . 193.S .\o

"a

132-.,

T I4 1 1

99

Oct '03
Mar'02
112^4 Jan'U3
101 -v J'ly'Oii

106

100

MS

1

106
97 Vi
125
123
102
105
109 14

".J

mil.,
lo7-\ 107 '.

Feb '03
99^6

1

80
loo

31

99^6

99

132 '4
1

Nov 13

1910 J-J
Nou-couvert debeu 5»...19la A-O

la Falls A: sum I C 1st 7s. .1917
Kail CCliiiiV: Spr Isl 5s. ..1925
Kan C Ft s cVUuU Ist 7s..l90>s
1 92.S
6s
K an C Ft Scott <\e

"5,.'!

h'anije or

Illinnis steel debi-n 58

Marq HoughdjOnt

106 v. Dpc '02
9S May'03
94 Xot'U3

100
95

91
li:.\

97

105

Joint bonds Ste (it Nortlu-rii
Chic Jc Ky <fe Stk Yils os.litlj J-J

Illinois

SO

100 J'ne'03
Il07% Oct '031
100 Oct '03

A-O
A-O
M-X

1!)"22

43

llt2a(,ll.t

Week's

/yjrfoj,

1934 M-S
K»uC.M& B gen 4s
Mar !i:!4 Spl
iicoiiie 5s
58l9-jli .v-o
Kan C A; -M Ky* Br Ist

101

111

8U

l»l!t
lilly
U'lii

Ki

iismui'-j

1100 J'ne'Ol
I32I4 .Miir'03
|117>4 Feb '03

JD

92

101

'<yj

-_^„

-*w
Si.

i

Bid

1

10i>-2 J'I.V'02
99=ib Oct "J3

ll*!'

Iowa Div 1st js
Iowa Div 1st 4s
Debenture Cs
Denver Exien 4s
Nebraska Kxten 4s
<fc

112

lyl.>* 'j-J

liUo Ij.J

Cent Venni 1st K48..Mayl!fJti
I'JOa
Chic Burl* y 1st 7s

B

90'ij

lylts IJ.J

1WK<

b«

Jan "03
Feb '03'
Feb '03

.111212

Bu>ll'ii({.u<lst 58tiiecls-lli;<S' ,J-J
liUt) J-J
•Jil js triisl receipts

Cetlar Kap
2(1 7s

•rii.

.

.120^4 Apr'Ol
.i
99 •« Jiiii '02
..101
ilar03|

Ul

High

•.n:

I

Hi Apr '00

104

J.I)

Iy44

4'^!»

«:?

BOSTON STOCK EXCH'GE
Week E.vuino Nov 13

llSi-j Fet.

..l'.»t>5 F-A
Iinproveiueut 4s
Bii>t iV Moll M\ issue Ts... 11*04 .M-N
a'-js.l947 F-A
BostouTeriiiinal Isl

-M'l Hiv ex OS
Nouexi-iupt t'>s
Sinkiu^ luuil 4s
Butte A: Busluu 1st 6a

i '

1867

liONU.S

Jianat
Since
Januarti 1

JJiyh, A<, Loio

9s Si
93 K:

98 >4 Sale
94 bJili

J.J
J.J

lH'.'.'i

4'<.

Last Hale

Low

Ast>

in a

Isl 7i..ly(t8
i;

S^s

yov 13

13

litJ'.t

Nebraska

A-

Ati'h Top iV- s !> ueu
A'i)u>imciit i; -Is
Bosl.iiiit l.oweU 4s

\-^~.\\

Hanye or

tridau

Am Bell Telephone 4s IPCS
Am Telep iV Tel Coll ir if.
Auli

'

.

Boston Bond Record.

1903.

WbtK ENUIXG Nov

U

1
1

10-.::-<4

7

Oct '03

aski-d.

"^

1023*
104'*
105

.11102

98 Si

I

lll2-'»,112a|»

Trust Co.

ctia.

Philadelphia and Baltimore Stock Exoh^.nges— Stock Record, Daily, Weekly, Yeirly
Share Pricen— Not Per Centum Prices
tMluruay

Tuesday
yov. 10

Sov. 7

62Si 62S!
•85 ....
13S» i3S2
21S2 21 Si

»62S!-

•8=8.

8»4

Wednesday

62 S. 62»4

Jlonday
yov. y

62 Si 62 H
85
ad's
14
14
•21
22

S5

85

8=8

8Sj

S^j

yov. 11

8S»

I

'

ACTIVE STOCK."*
yov. 13

yov. li

(for Bonds and Jnactire
stocK-i see Oeloiaj

62 Si 62Sil »61
•84
•84
85
•12

21

tht\

13>4,

83s

*

Lowest

Shares

Baltimore
Gas

60 Oct
81 Si Oct
11^4001
20 Oct
8 Oct

85 Si Northern Central
14»4 Seaboard Air Line

13»8

\Sh

2»8

•65
•36

4

2

3S!

18

22
•38

2Si

58 Sj 58''6
36
36
6

5718

38 s,

44

44

79%

79!>6

2 Si

.

*63
65
34 Si 35

67

35

36S2

l'i\

35 S:
30 Si

•38
30
44

6
-11 Si 12 '4
20»i6 21^4
-38
38 Si

22 >€

30
44

79Sl 79^8

17 '4

1^4

•65

67

573^
56
35 'o 35=8|

6

'iV-ia

44

17 -^4

2'8

1»4

35

38S2

29 Si 29

Si!

43^6

79 "4

79S2I

03-'j
35='8

5'8 ol»16
•llSi 1-14'

1938

4334

79Si 79Si

5539
35 Si

38 '4
29
44
78

5'4

*11»4
I9I4

Bid

I

\

38-4

29

44
78^2

PUIL.\DELPHI.4

Ask

56 S:
36

.

I

Lehigh Coal &
LeiiighVaHey

Nav

5"t Philadelphia Electric. 25
12*4 Phila Puipiil Transit ... 50

J^Nov
li^Nov

5,916;
4,335|

Anierlroui

steel

j3ond!S

42 Si 43'
50
46

American Railways. ..50
Bell Telephone
50
Cambria Iron
50

Central Coal & Coke. 100
Preferred
100
Consol Trac Pitts
50
Preferred
50
Danville Bessemer... I'a
Diamond State .Steel.
Preferred
£aston Con Electric... 50
Electric of America... 50
Elec Storage Batt
100
Preferred
lOO

Gen Asphalpf int
Gemiaulown Pass

BerK&EBrw 1st 6s'21 J-J

L

D Can 1st 5s '16 J-J
Me 1st 5s 1949 J-J
Ch OkcfcG geu 5s '19 J-J
Col St Ry 1st con 5s 1932
ConTracofN Jlst 5s.'33
E A l.st M 5s 1920 M-N
ChoCife

Elec

7%
47

Ask

Bid

10

..

.

(

95"

Railways General

Trans

United Trac Pitta

...

Preferred
50
Warwick Iron ,fe Steel. 10
"West Jersey <fe Sea Sh. 501

.

2*4

•

Bid ana asked prices

;

124Si,126

123

122
114
103

s f

Inactive .Stocka
Atlanta <fc Charlotte.. 100
Atlan Coast L (Conn)lOO
Canton Co
100
Georgia Sou <fe Fla...l00
1st pref
100
2d pref
100
G-B-S Brewing
100
ilt Vernon Cot Duck
Unit Elec L <fe P pref .50

M-V
M-N

Exchange 3Sis 1930 J-J
Refunding 3 SiS 1952J-J
Bait <fe P 1st 6s
1 '11 A-O
1st 6s tunnel. .1911 J-J
Bait Trac Isl 5s. .'29 M-N
No Bait Div 5s 1942 J-D

115

m

..

IIU

150
200
85
45
96
65

250
95

98
72
9

3
134

2S.

40

104 Si
120 i22
112
113
113
112

115

Pa <fc N Y' Can 7s 06. J-D 10734!
117 Ill9
Con 5s 1939
A-O 109 'sj 110
Convertible 5s. '06 M-N IOOI4 100»4
Con 4s 1939
Central Rv 6s. ..1912 J-J
A-O
Penn Steel 1st 5s '17 M-N
Con.sol 5s
1932 M-N 112
People's Tr tr certs 4s '43' I'lii'u loi'^^i
Ext <fe Imp 5s. 1932 M-S 112
P Co l.-<tA col tr 5s'49 MS 107 Si' 108
Chas CitrRv l.st 5s '23 J-J 103S!

no sales on this day.

I

i|

Lowest

is

es-di-ndend.

t

Ex-rights

^Sep

JsJanlOj

6

1

26»4
9»ie
40^4
"'"^
"ja

FeblHl
Jan 6'
4734 Feblo;

°16

9 Jan
1776 Jan

Jan

29
36

3'8 Jan
8I4 J'ne

5

Apr
i*

Sep

Apr

38 Si Deo

5"ieOct
34

J'ly

1-4 J'ly

43 Si Dec

»|

yiax

80»4 Apr
7934 Sep

Oct

73^4

1
7334

Aug
^ Aug

34^4

55
17

13

85

Sep

50'ij

Apr

9 Si Sep
18^8 Oct

Ask

Bid
BALTI.^IOKE
'99 M-S
Chas By G <k El 5s
Charl C A ext 5s '09 J-J
<fe

.

1910 A-O
City <fe Sub 1st 58. .'22 J-D

112
113

Sub(Was)lst5.s'48
Col<fcGrnvlst6s.l916J-Ji
Consol Gas 6s. ..1910 J-D
1939 J-D
58
Ga & Ala l.st con 5s '45 J-J
City<fc

I

I

91Sil 92>«

llo

117

I

10934 11014
109'- 110

105 105 >«
10634 107
Georgia P Ist 63. ..'22 J-Jl 115
GaSo <fe Fla 1st 5s 1945 J-J llOSi 112
G-B-S Brew 3-4s 1951M-S
45Si 46
30
27
2d income 5s 1951 M-N
KnoxvTrac 1st 5s '28A-0 90 101
LakeR El l.st gu5s'42M-S 117
MetSt(Wash>fst5s'25FA 115
67
Mt Ver Cot Duck 1st 5s. 65
13
15
Incomes
1

I

89 H 90
108 110
Atl Coast L(Ct)ctfs 5s J-D 105
110

Ctfsof iudebt 4s
Bait C Pass 1st 08 '11
Bait Fiindg 5s. 1916

Uec
Oct

40'4lJfeC

3

GaCar<fcNlst5sg'29J-J

125
104^4.110434

!

'

Westii!or>-!and Coal...5o|

....

J-J

Consol 6s c 1905.. .Var
Consol 5s r 1919... Var 11434
Penn <fc Md Steel con 6s. 1073,

265*"

251
50i

120

<fe

..'."'.

&
Tidewater Steel
lo
rniteil N J RR & c. 100

I09I4

No Penn

95 Si

'

111 Si 115
50
49

5s '97 J J
58 1930. J-D

U Trac Pit gen

23*8

-.i

Jan 2

14>4Jail

2d 7s

J-J

Income 48 1939. ..M-N
1st 4s '36. .M-N
Deben 6s 1905
M-S
Penn gen 6s r 1910.. Var

43
159'4

97
61 Si

I

1123; 113
983,

Newark Pass con 5s 1930 113'4
N Y Ph No Ist 4s '39 J-J 100

..

Su.iqueh Iron

10,
Steel. .5

4s '21.J-J
Ry con 5s 1930
Side 1st 5s g '35 J-D
tr

J-D 116^4 11634
J-D 13534 137
Annuity 6s
Leh V Trac 1st 4s '29. J-D
70
80
Bonds
Nat Asphalt 5s rects..
Anacostia <fc Pot 58
Atl <fe Ch 1st 7. ..1907
NfawCo'nGaoos 1948 J-D

,

Phil German <fe Norriii. 501
Phila Traction
So'

Terminal 58 gl941.(^-F

61 14

114
103

BALTI.110RE

80

78Si

Consol 6s 1923

-^

(fe

P7Si

102

Leh V C 1st 5s g '33. .J-J
Leh Vext 4s 1st 1948. J-D 111
M-S 119
2d 7s 1910

501

J-D

1911

t

Welflbach

97%

M

A&O

2;«-4Jau

45

19 '4 Nov 13
Jan 2' 26 '4 Mar! 393,8 Sep
36 Sep 28 44"i8 Feb 6 40 Mar 45 "a .Sep
2858Novl3 4018 Jan 6| 30 Jan 40*i6Oct
40-6 Sep 29 4734 Feb 1 61 32 Jan 48 '4 Fei»
76 Oct 12 II6S2 Jan 31! 101 Si May 126 May
20 Aug28 31 Marll 24 Jan 40 Si Se p

RE
UTrac Ind gen 5's'19.J-j

S
IO6S1

Indianapolis Ry 4a. 1933
Interstate Rvs—

ivlklll

Pow

10434

tr ctfs

M7s

W & B col
Rochester

P

F-A
60
i;.aSi-4s 1943
Lehigh Nar 4Sis '14.Q-J 108 Si
BRs 4s s
1914. Q-F 100
Gen
4''2S g. 1924. Q-F
109 Si

"
50
...
Schuyl H..50| 6114
^
-;ng
50
N Kavci. Iron & Steel.
2
North Pennsylvania. .50 104
Penn.sylvauia Salt
50 100
Pennsylvania Steel.. 100
Preferred
100
75
Phila Co Pitts) pref.. .50
42 Si

L'nit

1st

M

M 6s g 1911.... J-D
Ex Imp M 4s g '47 .A-O
Con M ot '82 48 '37. J-J

112 14 113
106
103

6s '10. J-J
g 5s 1928

Peo Tr stk

wa 1st

Gas-L

H & B Top con 5s '25 A-O

20

Chem.50]
^hone..50'
'

<fc

E(i II

.

L :-•

<fc

Elm

7Si

M

Con
Con

105

<fe

ctfs...
50'

Prelerre<i
Lit Brothers

98Si|

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'

THE CHRONICLE.

1868

liiwestment and

[Vol. lxxvil

%xiUlliQcnu,

|Jilailrjoad

RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every Steiam railroad from which regular weekly or monthly returns
oan be obtained. The first two oolnmns of figures give the gross earnings for the latest week or month, and the last two
oolutiins the earnings for the period from July I to and including such latest week or month.
The returns of tlie street railicays are brought together separately on a subsequent page.
Latest Gross

BOADS

H'eeK

or

Earnings

Yuar

.\JoiU>i

July 1 to Latest I>att

/Yevious
Year

C^irrenl

viirrent

Year

Tear

Week:

or

wk

CttrreiU

Month

*

Ala G t Southern
Ala N O * lexa^' O .t NoKast.
Ala « VMck8b»:
Vioksb Sh A P

Ju

Latest Qross Earnings

BOADS

J^reviotis

Year

i^euioun
Year

V

1

to

Wrr&iit
Year

Latest

Date

Previous

Year

t

—

18.664
9,786
10,090
18,608
Man'tee A Gr. Rap August
98,079
30,202
87,089
Manls <fe No Kast .•September
34,680
832,116
720,701 Manlstuiue
29,323
3.957
41,844
October... 228,490 195,893
Oct'iber...
8,728
393,136
347,865 Maryl'd A Penn.. September
108,170
V21,SS-s
93.367
32,536
31,494
81,816
Oott'ber ..
453,710
397,081 tMexloan Cent'l. Ist wt Nov 435,578 435,454 8,698,044 7,340,164
119,649
1:J 4,670
October...
iiic- 218,922
Inc. lll.,099
Alleirlieny Valley August ...
539,765 542,512 1,619,454 1,604,085
t Mexican Iitern. September
740,375
37,408
652,183 tMexioan Ry
38,639
Ann Arbor
Wk Oct 24 110.700 94.100 1,702,200 1,619,600
IstwkNov
Atoll Top A S Fe September o.STO.Si;:' 5,141,070 16,852,139 14,596,063 {Mexican Souili'u 3d wk Oct.
316,989
23,729
287,987
18,707
24,344
45,450
34.414 Millen A So'w'n. Se'ptember
18,480
12.620
12,219
Atlanta & Blrm.. August....
4,909
4,517
536,221
533,546 Mineral Range.. 4th wk Oct
275,959 264,605
Atlanta Je l^har.. August
20,804
200,684
186,506
16,374
261,024
240,796 Minneap A St L. 1st wk Nov
63,748
61,213
64,917
80,431 1,151,970 1.398,195
Atl Knoxv & No OotoDer...
62,879
32.652
Atlantic & Blnu AUKUSt
M St P A 8 St M. Ist wk Nov 196,989 169,942 2,919.750 2.839,583
384,64^ 359,845 6.744,307 6,624.861
Line... Septemb'rJ 1,510,140 1,584,934 4,272.717 4,247,308 Mo Kan <te 'lexas- Ist wk Nov
Atl Coast
12,042
28,257
21,879 Mo Pao & Iron Mi IstwkNov 594,000 697,000 15.726.480 13,673,226
10,797
Bait A Ann S L. August ..
26,000
651.000
20.000
432,100
Bait A Ohio
October... 6,022.316 5,533,672 23.897,876 21.690,488
Central Branch IstwkNov
620,000 717,000 16.377,480 14,105,326
Total System.
Septem..,r 6,480,907 5,871.00: 19.281,806 17,434,370
1st wk Nov
Total
512.200
416,094 Mob Jack A KC. Wk Oct 31
8.156
4,090
129,088
73,471
BanKor <* Aroosi September 183,226 154,514
9,334
3,312
8,781 Mobile A Ohio
3,291
BatlutHam'dsv't September
4th wk Oct 292.558 262,6S5 2,568,593 2,361,542
25,328
7,371
19,788 Nash Oh A Stl,.. 4th wk Oct 283,956 273,913 3,337,331 3,036,319
5,055
Bellefonte Ceufi October...
13,034
13,486 INat'l RRof Mex Ist wk Nov 181,310 173,403 3.750,60
3,808
4.296
3,322.940
BrUtKt & 8aoo K September
81,155
23,97s
26,160
Butt Rooh& rtttf IstwkNov 151.475 135,563 3.054,684 2,737,778 Nev-Cal-Oregon October...
80.632
246,726
230,689 Nevada Central Aagust
89,500
88,644
6,725
3,833
Buttalo ASnsq.. September
3,947
6,588
88,ll>0
606,400 N Y O & Hud Riv October... 7,166.763 6.799,355 28.165,00b 26.275,019
58,700 1,010,800
Canadian North 3d wk <,)ot.
910,000 17,499,500 15,489,688 N Y Ont <& West September 602,800 350,061 1.966,887 1,096.121
Caurttliau I'aoUU 1st wk Nov 1,014,000
41,295
16.017
58,807 N Y Susq A; West September 214,809 105,573
24,630
697,629
369.288
September
Caue Belt
Georgia IstwkNov 217,940 201,780 3,360,984 3,262,052 Norfolk A West'n ISD wkNov 420,735 344,417 8,141.954 7,052,435
Cent'l of
Ceut'lofN Jersey September 1,770,853 1,106.454 5,640.700 3,577,740 -Northern Central September 879,319 705,019 2,721,370 2,015,270
Central PaolUo.. August .. 2,054,808 1,853,768 4,033,665 3,793.438 North'n Paolftc.. Oorooer. 5,215,887 5,328,185 18,154,476 17,680,413
2.467
39, 142
43,367 Nor Shore tCal) September
1,826
195,432
173,172
59,276
50,566
Cbattau South'n. Isi wk Nov
20,228
17,921
37,813
32,679
Ohesap A Ohio... September 1,572.707 1,181,846 4,789.373 3,390,58-. Ohio Riv& West. August ..
Chic & Alton Ry. September 1,073,534 873,659 3,073,608 2,570,419 Paoiho Coast Co September 538,081 500,090 1,665,797 1,552,078
Ohio (it Western. IstwkNov 169,869 143,346 3,106,993 2,753,035 ePenn— EastP&E September 10680750 9,822,750 32,717.443 29,701,243
Inc. 1.70 7,900
86,975 2,090,254 1,833,712
Inc. 44 1,600
Chloind AL'v... IstwkNov 102,855
eWestP AE.... September
Chic MUw & 8t P September 4,418,733 4,443,216 12,756,337 12,068,682 Pere Marquette w Isi wk Nov 226,280 196,822 4,388.936 4,004,899
ChicJt North W'n September V5133331 4,5*0,252 IT 14,743,479 12,737,142 PhllaBalt&Wsh September 1,228,590 1,086.590 3,570,495 3,290,095
780,104 5^6,223 1,556,426 1,038,264
Chic St H M & O September 1.100,611 1,206,210 3,068,160 3.121.086 Phlla A Erie
August
601,623
622,527 Pine BU Ark R
33,806
34,499
2,140
2,259
7,042
6.687
Chic Term Tr Kli IstwkNov
September
Oln N O A T Pao ad wk Oct 136,575 101,725 2,135,634 1,789,823 Plttsb C C A St L September 2,232,723 2,073,503 6,619,318 5,853,287
8t L September 1,965.118 1,746,928 5,826.668 5,061,156 Raleigh & C Fear August ...
ClClnChA
10,155
5,116
782,668
Peoria <fe East' September 300,831 240.110
675,593 Reading Railway September 2,922,121 1,939,444 9,126,422 5,852,815
653,826
Colorado A South IstwkNov 126.444 132.454 2,375.701 2,247,840
September 2,121,012 1.55,316 7,997,560
Coal Air Co
53.340
19,520
14,937
42,057
Col Newb <fc Lau September
Total Both Cos September 5,043,133 2,094,760 17,124,982 6,506,641
Copper Range... August
45,878
30.822
101,638
58,994 Rich Fr'ksb A P cseptembor 110.277
341,977
273,599
88,900
26,730
102,029
Cornwall
25,971 Rio Grande Jet.. August
104.930
6,459
7,325
53,973
49,496
September
Cornwall i&Leb. September
82,431
12,052
175,514
223,023
18,697
21,326
72,947 Rio Grande So... IstwkNov
6,458
Oaoiberl'd Valley September
196,507 105,605
577,793
325,235 Rook Isl'dSysfm September 4.390,597 4,027,5-25 12,741,639 11,535,539
Denv.&RioOr. / IstwkNov 342,900 341,200 6.743,281 6,636,882 Rutland
150,173
138,739
48,932
47,439
3d wk July
285,678
Kio Gr. West J
99,535
356,443
September 122.303
St Jos AGrI
246,422
82,905
68,493
201,524 St LA San Fran 9 September 3,191.717 2.759.756 9,274,876 7,728,186
'Det <fe Mackinac September
28,347
Detroit Southern. Ist wk Nov
635,493
533,955 St L Southwest
162,893 173,480 2,687,547 2,658,617
33,843
Ist WkNov
DulSoSh&Atl.. 4th wk Got
96,850 1,021.361 1,031,483 StLVan&TH.. October.
225,289 222.624
803,932
81,950
856,150
Erie
April
230,965 247,620 2,141,276 2,172,830
Septemljer 4,224,844 3,511,4»4 13,108,697 10,361,188 San Ant A A P.
515,534
EvansT <& Indian IstwkNov
8,434
155,936
152,203 San Fran <&N P.. October...
132,903 138,783
556,783
6,951
29,940
28,330
698,319
BvansvA TH... IstwkNov
637.366 Seaboard Air L.. 3dwk Oct 258.132 265,986 3,848,142 3,787,633
283,545
F'rchUd&N'rVn September
2.416
7.511
118.590
77,737
443.562
1,725
8,223 Southern Jlnd
October.
Famiv & Powhat August
7,093
6,949
13,160
14,486 So PaolttoOoft... Septem'rft 8,218,028 8,007,016 23,840,062 21,786,694
Den V City September 229,940 225,719
751,995
679,734
Ft
Central Paciflc. August... 2,054,808 1,853,768 4,033,865 3,793,438
553,432
540,381
526,853 507,660 1,102,048 1,010,687
Georj^la RR
September 198,575 219,459
Gal Har ASA. August...
252,074
100,696
12a, 119
551,333
483,979
134,976
71,742
142,771
Ga South & Fla.. Ociober
Gal Uous A No August...
32,218
23,944
26,546
GilaValG A; N.. September
37,150
98,712
73,849
12,891
18,730
GulfWT&P.. August...
341,686
299,788
148,584 165,737
Gr Trunk System IstwkNov 092,115 626,467 13,583,229 11,776,955
Louis'a West... August...
690,336
718,863
GrTr. West'n 3d wk Oct. 118,163
96,356 1,748,983 1.428,957
351,976 334,704
Morgan's L A T August...
73,209
DetGrH&M.. 3d wk Got.
25,325
435,511
32,062
40,245
68,574
27,593
396.093
N Y T & Mex August...
725.204
662,205
Great Northern.. October... 4,823,9Z2 4,702,712 15,842,107 15,451,383
361,575 328,239
Oregon & Calif. August...
201,516
Montana Cent'l October.
741,510
118,530
232.453
74,496
676,667
98,559
183,050
So Pac Coast.... August...
Total system. October... 5.006.972 4,877.208 16,583,617 16,128.050
So Pac RROo.. .i.UgU8t... 2,806,317 2,290,169 5,490,342 4,555,171
528,212
Qtilf&ShlpIslaud 4th wk Got
634,030
636.444
556,525
August
310,251
262,004
51,908
44.513
TexANOrl
UockiuK Valley.. IstwkNov 1 I7i649 114,673 2,369,437 2,197,805 Southern Rallw'y 1st wk Nov 885,278 810.794 16,230,896 15,093,197
751,8-25
639,059
Hous & Tex Cent August..
200,097 179,945
836,411
741.200 TerreH AInd... October.
442,816 402.146
205.071
242.124
W.Texas August.
60,042
67,434
124,438
53,569
60,261
128,297 Terre H A Peer. October.
203,392
23,798
226.870
Eoua & Shrevep't August..
29.512
31,885
14,158
19,366
35,577 Texas Central . 4tn wk Oct
Illinois Central.. October.
4,158,045 4,044,809 15,955,313 14,528,504 Texas A Pacific.. Ist wk Nov 251,548 227.34^ 4.028,124 3,839,948
Illinois Southerii October.
October...
16,500
18,600
14.583
64,165
20,120
53,768 Tex S V A N W
50,092
46,994
IndlU & Iowa... August .
16,609
234,892
16,277
116,66s 129,815
261,707 Tift Thorn & Gulf September
60.325 1.442.928 1,121,996
Int <fc Gt North'ii IstwkNov 127,800 111,020 2,124,027 2.034,515 Tol & Ohio Cent 1st wk Nov
75,937
430,345
473,918
llnteroc(Mex)... VVkOot 24
19,599
21,053
93,810 1,698,700 1,595,700 TolP A West .... \»t wk Nov
99,200
57.552
65,562 1.206,159 1.086.123
Iowa Central
IstwkNov
IstwkNov
49,940
50,841
878,844
895,601 TolStLA
191, -253
137,182
Kauawha & .Miclj lot wk Nov
13,037
10,874
611.848
30,819
26,559
315,276 Tor Ham <fe Butt. 3d wk Oct,
Kan City South'u S-ptember 539,323 495,660 1,579,626 1,487,971 Un Pac System .. September 5,182,844 4,557,427 14,305,684 12.952,978
152,277
188,185
LakeEne&Weetu October
69,242
47,767
4 82,364
424,822 1,925,981 1,655,277 Va & Southwest. September
429.460 393,724 8.997,022 7.829,964
Lehigh Val RR.. September 2,703,653 1,458.561 8,187,589 4,155,161 Wabash
Isc wk Nov
1,766,639 1,598,839
I/exuig &. Kast'n. September
61,008
48,824
185,784
145,915
Jersey A Sea'e September 439,808 386,608
82,688 1,732,051 1.504,817
84,514
Long Island
Ist wk Nov
September
Inc. 99 ,461
Inc. 257 .312
Wheel
52,050
16,427
52,167
14,883
Louisiana dc Ark. September
51,892
43,810
160,761
121,549 Wm'sport&N.Br. September
Lou HeudAStL. July.
72.303
68,815
72,303
68,815 Wisconsin Cent.. Istwk Nov 116,000 118,611 2,566.760 2,474,281
41,276
38,586
15,918
18,278
Louisv A Naflhv. IstwkNov 741,170 692,450 13,318,234 12,218,279 WrightsvA T'n.. September
Macon <& Blrm. September
605,721 758,954 2,252,614 2,273,398
9,918
37,200 Yazoo <& Miss. V October...
15,700
31,792

3d

60,424

Oct

47,256

933,253

794,905

I'liciilo.

—

.

.

.

-

.

W&

.

.

H&E

.

.

W

.

W

ALE

.

VARIOUS FISCAL YEARS.
BOADS

eroM £aming»

Current Year PreriotM Tear

Allegheny Valley
Jan. 1 to Aug. 31
Atlanta & Charl Air Line.. Apr. 1 to Aug. 31
Bellefonte Central

Canadian Northern
Chicago & North Western.
Chic 8t P Minn & Omaha..
Cumberland Valley
International & Gt North'n
Lake Erie & Western
Manistee & North Eastern
ManiHtifj ue

Maryland

&

Jan. 1 to
Jan. Ito

Oct 31
Oct 21

June

8ept
Sept
Sept
Nov.

1 to
Jan. 1 to
Jan. 1 to
Jan. 1 to
Jan. 1 to
Jan. 1 to
Jan. 1 to

30
30
30
7

Oct 31
Sept 30

Oct 31

Pennsylvania Mar. 1 to Sept
Missouri Paciflc
Jan. 1 to Nov.
Central Branch
Jan. 1 to Nov.
Total.
Jan. 1 to Nov.
IMexican Central t
Jan. 1 to Nov.
Mexican International
Jan. 1 to Sept

30
7
7
7
7
30

Inc.

$1,299,824
62.454
2,191,125
1119.540.208
8,665,177
1,462.597
4,661,103
4,373,726
287,111
59,004
195.986
35,256,961
1,244,000
36,500,961
21,244,350
5,340.00

A

BOADS

Gross

$585,744 {Mexican Railway
{Mexican Southern
{National RR of Mexico.
Northern Central
N orth Shore
ePennsy., East of P & E.

1,209,684
48.241
1,298,711
16,737,510
8,526,286
883,109
4,305,786
3,894,044
259,325
93,099
171,865
30,411,477

902.100
31.313,577
17,585,834
4,714.799

eWestof

P&E

Pere Marquette
Phila Baltimore

to

Jan.
Apr.
Jan.
Jan.
Mar.
Jan.
Jan.
Jan.

Hamingt

Current Fear Previous Year

Oct 24
Ito Oct 21
1 to

1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to

Nov.

7

Sept 30
Sept 30
Sept 30
Sept 30
Nov.

7

Sept 30
& Wash.. Nov.
Aug. 31
Jan.
Philadelphia & Erie
Sept 30
Pitts Cin Cliic & St Louis.. Jan.
Aug. 31
Dec.
Kio Grande Junction
Nov. Ito Oct 31
St L Vandalia & Terre II
Terre Haute & Indianap .. Nov. 1 to Oct 31
Nov. 1 to Oct 31
Terre Haute & Peoria
7
Jan. 1 to Nov
Texas & Paciflc
West Jersey & Seashore... Jan. 1 to Sept 30
.

$4,443,700
569,644
9,497,983
7,761,464
438,435
92,872.719
Inc.

9,771,616
12,304,868
5,164,430
18,.500.164

421,613
2,444.109
2,014,949
643,720
9,613,654
3,401,491

$4,094,100
.543,982

7.609,873
6,107,864
3*J6,537

83,121,119
4,922,600
8,934.499
11,085,868
4,056,685
16,692,661
410.515
2,223,043
1,770.431
559.088
9,05'',32l

3.176,591

{Mexican currency.
Kesults on -Monterey
Mexican Gulf are included from March i, l«02.
V Includ«s trans-Missouri lines
6 Includes the Houst. A
In 1903, making length of road on which earnings are reported 7,357 In 1903, against 5,876 miles In 1902.
(/Includes the Chioagi) A Eastern
iTex. Cent and Its subsid. lines In both years and for both periods.
e Covers lines directly onorated.
'." InInilnolH In both years.
West ana also Florida Southern and Sanford A Bt Petersburg Rys in both years.
< Including Sav. Flor.
*
eludes I>ake Erie
zinclutles earuluirH of Valley RR of Va., Ohio A
Det Riv. Ry. from Jan. 1 both years
Approximate for June.
Little Kaniwha. Clev. Term.
Val., Clev. Lor.
Wheeling, Ravenswood Spencer & G. and Ripley & Mill Creek, not whoUy owned, but
oontroUed and operated by the B. A O.
t

&

&

&
&

. .

Nov.

—

,

THE CHRONICLE.

14, 1903.]

Latest HrosB Earmln^t by Weeks.—In the table whloh
follows we sum up separately the earnings for the first
week of November. The table covers 40 roads and ahows
6' 11 per oent Increase In the aggregate over the same week
last year.
lit

fSMk of Novemb^.

Inertatt.

1902.

1908.

9

«

Ann Arhnr ...
Bnmao Rooh. A

Dtertcue.

»

37,408

9

...

88,639
151,476
1,014.000
217,940
2,467
169.-69
102.855
83.806
126.444
342,"^ 00
33.843

Evansville A Indlanap..
Bvans. A Terre Hanr*>...

29,940

132.464
341.200
28,347
8,434
28,330

692.11S

626,467

117,649

114,678
111.020
50.841
26.659
692.450

8,976
16,780

—

Canadian Pactno...
Central of Oeorirta
ChftttAnooKa Soathem...
Ohio. Gre»t Western
Ohio. Inrt'plU A Ix)alev..
Chic. Term. Trangfir....

Colorado

A

Southern..
Kio (trande *

Denver A
Sonthem.

liotrolt

1,231
15,912
104.000
16,160
641
26,533
15,880

lS5.6»i3

910.0O0
201,780
1.S26
143.346
86,975

693
6,010
.-- ...

i.7b6
5,496

1,483

1,610

Gr^d Trunh of Canada i
Grand Trunk Weei

Det. Or. Hav.

<k

. .

Milw.

>
i

RooklnK Valley
International A Ot.No..
Iowa Central
Kanawna <h Michigan...
LoolsvlUe & Nashville..
Mexican Central
MlnneapoUs A St. Louis

127. HOO

49,940

30819
741.170
435.578
64.917
196.989
384.647
694.000
26.000
181.310
420.735

AB. Ste. M
Mo. Kansaa A Texas
Mo. Paoiflo A Iron Mt....
Central Branch
WattonalRR-of Mexico..
Morfolk A Western
Ifliin.St. P.

Per© Marquette! ...
Bio Grande Southern...
Bt. Loola southwestern.

WahMh

L.<k

261.548
75.937
21,053
57.552
429.460
84.614
116,000
8,661,771

Reeling

ajjakeiarie...
Wlaeonaln Central

Total (40 roadB)

...

p. o.)

Includes Rio Grande Western,
Biver By. for both years.
*

t

1902.

1908.

S

N.O. ATex. PacNewOrl. A No. East..

••>

~m

>*-•

2.611

662,606
498.103

154,4 03

A

Detroit

DeereoM.

9

9

Ala. & Vlcksburg
Vlcks.Sh. & Pao
Central of OeorKla

ObattanooKa soathem.
QvOl A Ship Island
Interooeanio (Mex.) §...
Mexican Railway §
Minn. St. P. & 8. 8t«. M..
Mob. Jackson A K.. Cltyl
MobUe <k Ohio

8,l5t

292,56^
31,885

Tnxaa Oen tral
Total (52 roada)
f

Ret inorease (7-13

15,474,490 14,444.073
p. o.)..

f Week ending Got.

81.

§

Week ending Oct.

187
7,896
5,390
16,600
34.854
4.066
29,873
8.087
1,126,749
1,080.418

Oct

Tear.

Boada.

Atlta A Char. A. L.aAng.
July 1 to Aug. 31
Atl.

Knox. A No.a.Sept

Previous
Tear.

$
275,969
536,231
65,0^8
197,276

July 1 to Sept 3o....
Bait. A Ohio Co.b. Oct
6,022,316
jBly 1 to Oct al. ...23.897,876
BellefonteCeDtr'lbOot
7.371
Jan. 1 to Oct 31....
62,464

98,331

5,433

13,543

109,672

102,312

17,747

15,762

276,741
258,180
H. 4; Hartf ordb—
July Ito Sept 30.. .,13,286,568 12,073,403
Faoiac Coast Co.. aSept
638,081
600,090
July 1 to Sept 30.... 1,666,797 1,562,078
2,140
Pine Blutt Ark. K
Sept
2,269
7.042
6.687
J»ly Ito Sept. dO
Rich. Fred. A Pot. Sept
110,277
88,900
841,977
273,699
July Ito 8ept3o
Seaboard Air Line aSept 1,036,522 1,089.446
July 1 to Sept 30..-. 3.059,477 2,972,238
South Buffdlo Ry.b—
49,437
July 1 to Sept 80
48,009
Soatbern Indlana.bSept
111,582
73,094
324,972
205,808
July 1 to Sept 3u
Tol.Peorla A West.bOot
116,072
117,818
410.747
July 1 to Oct 31....
452.866
Wmsp'rtA No.Br.aAug.
18,384
19,676
Month of Sept
14,888
16,427
52,167
52.050
July 1 to Sept 30....
Ifaxoo&Mlss.Val.a Sept
582,110
668,167
July 1 to Sept 80
1,646.893 1,514,444

30,621

34,831

4,559,255
119,024
850,922

3,833.495
109.486
317,277

S. Y. N.

67
363

216

32,711
104,821
236,087
706,016

1.868
17,271
61,654
820,438
786,968

20,555
50,210
162,660
24,015
107,384
6.121
3,761
15,720
63.375
126.604

88,630
37,794
101.218
35.437
105,588
9,218
5.826
22.246
77,063
67.886

b MetearaliLgB hereglven are before dednetlng taxes.

Interest Charges aBd SurplBS^—The following roads, In
Addition to their gross and net earnings given in the fore,
going, also report charges for interest, fto., with the surping
Above or defloli below those charges.
Int.,

Rentals,

etc.

— —Bal. of Net Earn'
Current

gs.-^

Tear.

Tear.

Tear.

$

$

$

483

522

4.796

Previous

5,896

2.608
20.899

1,494
1S.467

A Maine-

July 1 to Sept 30

Brldgt

Previous

$

Bellefonte Central. Oct
Jan. 1 to Oct 31....

Boston

2,029.320

2.026,588 *1,227.093 *1,040.669

& Saco

Rlv.Sept
607
507
541
1,236
July Ito SeptSo....
1,519
1,573
3,954
3,735
DeL Lack. A Western-Leased lines In New York State.
July Ito Sept 30..
612,183
614,477 1,284.450 df 612,433
Jan. 1 to Sept 30.... 1,836,593 1,846,768 8.003.196 df.546,491
3,887

def.2,876

14,268
40,894

*43.856
*48,486
* 129,189

*28.576
*93.003

30.... fl.496.475 f 1.124.769

*214,944

*112,680

72,212
19.452
57,867

.

Current
Tear

Previous
Tear.

$

212,203
621,316
8,016
21,040

908
9,890

192.706
544,145
4.834
11,956
3,077
7,045

New York State.

1,184.616
4,544,510

339,168

1,014.888
Inc. 5,444
Inc. 25,068
18.793
16,698
139,263
125,268
det.1,345
def.938
580
39.903

Tear.

24.

$

in

340,554
1,012,H04

45.869

Roads.

100.948
99.730
264,605
180,038
184,639
533,646
12,039
59,476
10,781
52,445
46,395
179,583
5,633,672 2,296,004 2,230,747
21,690.488 9.459,768 8.513,793
2,941
3,016
5.065
48,241
25.695
17,863

444,813
1,294,328
14,937
42,067
7,325
25,971

1,156.172

Current

Boston A Maine. b.—
July 1 to Sept 30.... 9,839,514 8,938,685 3.153,365 2.967,454
Brldgt&Saco R.b Sept
1,743
3.808
1.048
4.296
July 1 to Sept 3u....
13.034
5,308
13,486
5,478
OaneBelt...
Sept
16,017
7,866
24,630 def. 4,606
July 1 to Sept 30
21.235
41,295
68,807 deM9,240
Chio.Ind.dkLouls.a.Sept
603,239
Juij Ito Sept^^O.... 1,477,760
OolTun.Newb.A L.b.Sept
19,520
July Ito Sept 30 ...
53 340
Oomwall.a.
Sept
6,459
July Ito Sept 30....
86,730
DeL Lack. A W'-Ktem b— Leased lines
July Ito Sept 30.... 3,204.828
Jaa Ito Sept 30.... 8,458.744

1.681.132

43,576

-

—

•

1,230.465
8.469.221
Inc. 99.461
Inc. 267,312
34,680
30,303
287,111
259,825
3,957
8.788
59.004
93,099

July 1 to Sept no
Manistee A No. E.a Sept
Jan. Ito SeptSu....
Manlstlque. b
Oct
Jan. 1 to Oct 3l

Net EamiBgs Moattaly to Latest Dates.— The table following shows the gross and net earnings of Stbah railroads
reported this week, A full detailed statement, including al 1 Erie & Central N. Y.July 1 to Sept 30...,
roads from which monthly returns can be obtained, Is glvet
* Olov.—
onoe a month in these columns, and the latest statement of Fonda JohnstSept 30....
July 1 to
this kind will be found in the Chroniolb of Oct. 24, Gulf & Ship Isl
Sept
July 1 to Sept 30....
1908. The next will appear in the issue of Nov. 21, 1903.
Interboron?h
Rapid
— Gross Earnings.
Net Earnings.
Transit Co. Current

2,495.112

903.222
3.391.397
46.282
108,657
42,889
104,144
42.548
133,203
1.066.308
2,608,271

a Retearnlngshereglven are after deancttng taxes,

86,144

16,697
1,712
3,021
80,971

72,893
47,170
62,649
283,048
8.266
44,513
93,810
94,100
237.140
4,090
262,686
23,798

111.264
9.'J9,721
3,368.039
6,736,209 2,692.384
396.620
66.671
1,134,868
126,069
119.716
43,312
317.296
111,448
184.776
66,893
403.203
184.114
3,734,466
923,791
10,488,695 8,646,675

. . .

35,736
1,826

968,188

1,011

July 1 to Sept 30

6,594
10,687

Ala.

89,490
48,882
66.670
814,019
3,089
51.908
99,20u
110,70C
271,994

.

July 1 to Sept 30

8 010

9

Previously rep'd t^Or'dst 14,096,969 13,824,920

Tear.

New London Northern-

....

Inerecue.

Tear.

New Jersey AN. York b—

74,484
24.201
16,612
1,454

Inclndea Lake Brie

.Vti Earnings.-——^
Current
Previous

Tear.

Erie A Central N. Y.b—
July 1 to Sept 80
10,811
Fonda Johns. A Glov.b—
July 1 to Sept 30....
199.776
Or. Trunk of Can... Sept 2.634,236
July 1 to Sept 80.... 7,941,154
501.260
Gr. Trunk West. Sept
July 1 to Sept SO.... 1.367.000
Det.Gr. H. A Mil. Sept
138,208
367,687
July 1 to Sept so
161.589
Gulf A Ship Isl. .a Sept
467.174
July 1 to Sept 30....
(lUnols Central... a. Sept 4,003,868
July 1 to Sept 3u.... 11,797,268
Rapid
Interboronxh
Transit Co. b a.988,758
July 1 to Sept 30
Lake Erie A Wei'tern b—
July 1 to Sept 30.... 1,443,617
3,891.361
Jan. Ito Sept 30

Newb. Dutch. AConn.b—
July 1 to Sept 30

.

For the fourth week of October our final statement covers
62 roads, and shows 7*13 per oent increase in the agg^^egate
over the same week last year.
4<A toeek of Oetoher.

Tear.

.

**•-•

6.000
7,907
76,318
29,468

.

Previous

Hoods.

103,000

8,158,668

885278

We«t

RetlBcrease (611

15,514
37,0 4*7
24,802

12.052
173,430
810,794
227,347
80,326
19,599
65.562
893.724
82,688
118.611

rezae * Paoihe
Toledo A Ohio Central..
Toledo Peoria A West'n

St

48,720
124

80.431

6.458
1«2,S93

Boathem BaUway

Tol,

901

169.942
359.845
697,000
20.000
173.403
344.417
196,822

226.2-<0

Current

Longlslandb
....

4,26'6

435,4-^4

— dross Earnings. —

.

.S4.499

6.9->l

1869

.

66,648

,,.

Plttsb'g

,

1.896.633
4,839.789

3,044
1,800,377

Jaly

1 to

Lake Erie

Sept

A Western—

Jnlj 1 to Sept 30
Jan. Ito Sept 30

221,426
556,242
6,050
54,455

219,980
654,272
6,050
54,455

119,128
357,562
12,742
84,808

119.188
360,061
10,648
70,803

4,771

4,550

•969

•9,128

17,797

15,312

*1,687

•8,157

63.375

63.802 •dl.26,416 'df.28,345

July Ito Sept 30.... 1,968,865
Pine Blufi Ark. R... Sept
608
1,824
July Ito Sept 30....
South Buffalo Ry.—
4,419
July 1 to Sept 30
23,302
ToL Peo.A West.. Oct
92,326
July 1 to Oct 31....
2,767
WmsportANo.Br.Ang.
2,868
Month of Sept
8,401
July 1 to Sept 30
.

2,086.461 *2,626,639 •1,841.410
483
def.641
def.267
1,449 def.1,461
419

Manistee

A

No. E. . Sept.
Jan. 1 to Sept 30
Hewb. D'tchess AConn..

July Ito SeptSo....

New Jersey A New YorkJuly 1 to Sept 30....

New London NorthernJuly 1 to Sept 30....
N. Y. N.H. & Hart-

225

'le.ise

22,583
90,151
8,404
2,506
7,314

714
15,058
8,364

* After allowing for other income received.
f Incladee dividend on Manhattan Elevated stock.

892
7,318

•28,870
12.899
15.437
6,814
3,320
14,931

THE CHRONICLE.

18T0

STREET KAiLWAV8 AND TRACTION COMPANIES.

[Vol. Lxxvii.

Street Railway Net Earnings.— The following table gives
«he returns of Street railway gross and net earnings received
this week.
The general summary which we furnish once a
month, and in which we bring together all the roads from
which monthly returns can be procured, will be given

The following table shows the groaa earnings for the latest
period of all stbsbt railways from whloh we are able to obtain weekly or monthly returns. The arrangement of tte
table is the same as that for the steam roads that Is, the
first two oolunms of figures give the gross earnings for the
latest week or month, and the last two columns the earnings
for the calendar year from January 1 to and Including suob

Alb'ny A Hud. RR.a Sept

week or month,
STREBT RAILWAYS AHD TBAOTIOK 0OMPANIS8.

Jan. 1 to Sept 30....
Auburn A Syra. Eleo.
Joly 1 to Sept 30

—

latest

Lateat erott £laming$.

OR088
EABHIM08.

Jan. 1

Year.

1o Lateii

DaU

Tear.

•

Tear,

9

Tear.

I

9

i

209,011
Albany & Hudson .. September 30,176
AmerloaD K'vs. Co.|j. October... ll^,95y 96,266 1.140^38
d 152,430
Anr. Eljfln A Chlo. Ry Beptember 44.394
182,691
Sfpteiuber 21,932 18',432
Bingham ton Ry
29days8ep 1.308.368 1,043,914 d3,837,07«
Br'kljTi R»p.rr. Co..
7,967
58,634
6.690
BurUngt'n(Vt.)Trac. September
d690,051
Cal. Gas & Electric.. Septem&er 248.922
391,143
«Cent. Penn. Tract... September 45,763 38,391
.

Chlcaao A

43.307

October...

Mil. Elec.

15,731

Dayton A Tol.Tr. September 49,983 44,09Ci
Newp. A Coving.
September 110,719 99,147
Light A Traction.
I

Cln.
Oln.

957,764
159,758
dS, 403, 434

42,70^

287,943
391,486

344'539
163,136
344,954

905,686

808,582

I

.

OltlKens' Ry.

A

Oleve. Palnsv. A E...
Dart. A WportSt.Ry.
Detroit Unlt«>(l Ry..n
Dnlath-8ap. Tract...
East. Ohio Traction..
Elg^n Anrora A Son.

9,719
8.833
43,159 (30,464
23,023 19.39-

September
August

31066

19.201

IstwkNov 78,895 73

istwK.Nov 12,139
September 21,676
September 40,446
Havana Eleo. Ry.Co. Wk. Nov. 8 129,013
Hooolniu Rapid Tr.

A Land Co

701
10,389
21,007
37,806
125,662

HouKhton Co. 8t. Ry September
Honslon Elec. 8t. Ry. September

Indlanap. A Exst, Ry. 'September
Indian ap & MartlnvlUe Rapid Tran.. Angast.
Indianap. Shelby vUle
A Southeastern Tr. July

73,602
63,164
330,232 (219,969
164,h86
161,895
91.596
96,614
3,749,272 3,353,646
630,636 452,>-40
153,214 145,40
346,170 308,240
11104,864 t936,451
•

17.32(
13,581

177,136

114,615

d54,820

d52,396

32,282
11,895

25.731
16,478
38,598
20,315

August....

d55,012
d25,701

14,186

9,513

September 377,921 J21,35^ 3,003,344 2,653,867

Ry

11,579 12,030
181,855' 144,605
Jacksonville Elec. Co. September 21,813 16,.')74
Lake 8hore Elec. Ry September 63,49b 46,052 467,9 2< 842,573
Lake Street Elevated September c62,557 C61,773 o 578,797 c 656,430
105,5221
74,717
September! 13,291
6,879
Lehlgb Traction

Ithaca Street

>

Xet Earnings.——^
Current
Freviou8

,

Tear.

Tear.

rear.

Fear.

$

Jioads.

$

$

$

•

30,175
209,011

12,231
72,690

88,711

38,861

Brooklyn Heights RR.b—
JtUy 1 to Sept 30
3,699,713 3,216,894 1.709,258
Bklyn Queens Co. A S.b—
July 1 to Sept 30....
216.371
217,252
104,377
Ohlo.tt Mllw. Eleo Oct
43,307
15,731
32,461
Jan. 1 to Oct 31
237,943
163,136
160,161
East. Ohio Tract, a Sept
21,676
21.007
8,777
Jan. 1 to Sept 30
153,214
145,406
86,084
Montreal St. Ry
Sept
222,794
202,967
124,914
Jan. 1 to Sept 30
1,691,140 1,5H7,037
688,257
Oct 1 to Sept 30.... 2,222,787 2,046,208
905,939
flooheater Ry. Co.bOct
107,483
91.624
60,983
Jan. 1 to Oct 31.... 1,047,544
914,643
615.474
July 1 to Oct 31....
446,208
887,128
222,022
a Net earnings here given are after dedactlng taxes.
bNetearningshereglven are before deducting taxes.

July

1,456,577

113,727
9,183
96,741
10,199
64,233
108,737
719,169
911,032
44,520
428,897
191,882

Interest Charges and Sarplns.

— Inf., Jienlals,

etc.

—

-Pal. of Net Earn'gs.—.

Cxirren t
Tear.

Aubnm

Roads.
A Syrac. Eleo.—

Previous

Current

Previous

Tear.

rear.

Tear.

$

$

$

July 1 to Sept 30....
18,604
Brooklyn HeightsJuly 1 to Sept 30.... 1,212,861
Bklyn Queens Co. & 8.—
July 1 to Sept 30...
99,418
Montreal St. Ry
Sept
10.233
Jan. 1 to Sept 80
171..565
Oct tol Sept 30....
221.031
Rochester Ry. Co. Oct
26,933
Jan, 1 to Oct 31...,
256,560
July 1 to Oct 31....
103,513

*28.232
1,068,399

*

*885,433

*493,4e9

92,968
22,897
165,528
210,066
24,836
248,196
99,589

. .

Internat'l Tract. Co.
(Buffalo)...

— Oross Earnings. —
Current
Previo^is

,

Light

(Mnsoatlne, Iowa).. September
Oleve.ASo. W. ir.Co. 3ei>tember

System

28.

b-

Ourrtnt Previout

\wttKorMo

November

* 20,708
114.661
816,702
684,908
•25,448
'263,227
*120,261

•20,868
85.850
853,641

700,966
•20,271
•185,070

93,941

After allowing for other income received.

1

Lehigh Val. Trao. Co.

September 110,640
Street Ry. Dep
Electric Light Dep. September 14,256
Lexington Ry

September

89,032
12.425
27,35^
11,645

31,7;4
13,772

London St. Ry.(C»n.) October...
Mad.

678,715
115,666
232,9 a
146,289
69,488

577,678
99,467
201,458
127,306
60,624

7,82.'
8,04^
(Wis.) Traction. feptemb-^r
Met. West Side Eiev.. October.. 181,960 179,769 1,700,652 1.5''0,451
Mil. Eleo.Ry.ALt.Co Sep'ember 271,51b 255.81% 2,235,597 2,001,425
321,43'
266,501
Mil. Lt. Heat A Tr. Co leptember 43,059 35,350
Montreal Street Ky. September 222,794 202,967 1,691,140 1,567,037

MuBk. Tr. A Light. Co

Septembei
Septembei
Oaa Department... September
BTew London St. Ry. Septembei
N. Y. A L. I. Tract. August...
Norfolk Ky. A Light August
Hor. Ohio IT. A Lt. Co -jeptembei
Northern Texas Trac. 3(>>ptembei
Street Ry. Depart.
Electric Light Dep

Horthwestem

Elev.. Odtober.

..

7,515
2,880
4,018
7,945
5,474
68,098
84,015
41,949
1

7,994
2,136
2,984
7.168
3.072

67,492

r60,24S
rZl,29'

r28,206
59,504

11, 00b 107,960 l,021,b3(

Oakland Trans. Cone September 100,252
9,818
Olean St. Railway... August...
Orange Co. Traction September 11,687
Philadelphia Co. and
Affiliated Corpor's. Septembei 1,198,076
16,:i04
Pottsv. Union Tract. October...
Paeblo A Suburban
Tract. ALlght'gCo September 47,191
Bvs Co.Gen.— Roada. jSrptember 29,159
September
Light Co's
1.905
October... 107,463
Rochester Railway
Rockford Belolt A
September 11,826
JaneBYlUe...
lOctober... 364,174
at. Lotus TranaU
San Bernardino Val.
Angnst...
8,144
Tract. Co
Sao Paulo (Brazil)
Tram. L't A Po. Co. September! 126.000
Savannah Elect. Oo. Septemberl 45.606
Boranton Rallwav... September 78.622
Seattle Eleotno Co... September, 175.6-8
ctober... I32,97i
Sonth Side Elevated.
Bprlngfl'dAXenlalT V\k Nov. 1] 1,067
Syracuse Rap.Tr. Ry. September 72.079
Tampa Electric Co... September! 25,046
Terre Haute Elec.Co. Septembei 46,712
Tol. Bowl.Gr.A 8o.Tr September! 2S,915
Toledo Rys. A Light. September 150.011
Toledo A Western.... September 18,853
Wk.Nov. ; 39,964
Toronto Railway
Twin City Rap. Tran. 4th wk.Oot 112,669
38,377
Onion (N. Bedford).. AUgQBt ..
Dnlon Trao. ot Ind.. September 103,093
United or Han Fran.. September 511, 19b
73,261
Utica AMohawk Val. August
Wttsh. Alex. A Mt. V. September 21,287
September! 22,905
West. Ohio By
YoungB town-Sharon September 48,781

83,32t
6.319
10,069

837,911
57,82
85,335

12,624

166,06^

Central of Geortjia
Central PaciHc

368,70':

244,603
16,806
1,903
91,624 1,047,544
26,126

.

207,051
16,488
914,643

I

i

t

I

101,689
603,402 6.090,962 5,340,625

d 16,330
102,960 062,800 822.020
42,882
55,647 619,877 378,932
163,685 1,538,607 1,349,290
128,723 1,268,854 1,171,506
47,063
61,164 694,138 5"30,928
19,612
32,716
21,974
127,639 1,226,928 1,069,087

d57,244
34,387 1,778,4'/0| 1,49 2', 103
98,S03 3,367 515 2,969,728
221,697
38,390 245,221
707,192
86.845
822,501
486,777 4,580,577 4,029,377
62,489
l'7 3,33*6
155,483
17,666

d73,431
<i83.220

Spanish sliver.
Tbeae are resnlte lor properties owned.

c Restilte for main

line.

d Figures here are from July 1.
n These earnings include the Detroit
Huron Shore Line and

United Ry., Detroit * Port
A Ajnheratbnrg By.

the Sandwich Windsor

r These flguree are from Mar. 1.
( Flgnret for 1902 cover only the Clev. Elyrla A Western Ry.Co.
For the past six months flgnres are those of the Harrlsbnrg Trac-

nonCo.

RAILROADS. Etc.-

Acme Harvester {bal. sheet)
Atuer. Light & Traction

Page.
1744
V49h
1282

Chicago

185,u0}

an index to

all

anbn&I

Investors' and Street Railway Supplements.
This index does not include reports in to-day's Chboniolb,

561,899

956,680
695,717
38,414
79,696

is

of the

r61,165
rl5,564
rl8,790
58,682

1,08S,798 11,327,983 10,108,976

I

Annual Reports.— The following

reports of stetim railroads, street railways and miscellaneons
companies which have been published since the last editions

Americaa Malting
Am Sewer Pipe (bal.sh. Sept. 30).l63i!
12><2
American Tvpe Founders
Atl-intlc 4 Rirralncham
1289
15v9
BanKor & Aroostoolf
BuDalo & Susquehanna
1£89. 1801

<
411, 13i666,30i
335,297

ANNUAL REPOR:rs.

1289

1530
1530,1644
12-8, 12H8
Ctilcaeo Burl. & Qamcy
15H0
Chicago & Kasterii Illinois
Chic Rock Isl. A Pac. Ky.(15 mos.)174
1290
Clucln. Ham. 4 Dayton
Cincin. N. O. & Te.'t. Pac
1743
Cl'veland Lor. & Wheeling
1294
Colorado & southern
1746
Consolidated Liake Superior (reorganization plan, etc.)
1298, 1532

&

Alton

RAILROADS, Etc.—
Stet-1 of America
Denver & Southwestern

Paqt.

Crucible

12re
(reorg.

plan)
1533,1642
Detroit & Mackinac
1831
Detroit Sout hern
1583
Edison Klect. 111. Co. of Boston.... 1743
Fort Worth A Denver City
l':46
Greene Coasol. Copper
1293
Kanawha & Micbigan
1290
Mergeni baler Linotype
1744
New Yom Susqueh. & West...
1291
Pacific Coast

1291,1306
1893

Pullman Co
Rock Island Co

1742,

IT.'il

& San Francisco.. ..15.i9.
Southern Indiana
Toledo &Ohio Central
Toledo St. Louis & Western

1637
ViiZ

8t. liouis

U

1291
ISSO

Shipbuilding (rec'rs report)..1744
Wabash RR
627, 12H9, 1306
S.

Colorado & Southern Railway.
(Report for the year ending Jun6 30, 190S.J
President Frank Trumbull says in substance
General Results.— The gross earnings have Increased $562,662, or
:

10-08 p. c; the net earnings have decreased $67,^74. or 4*40 p. c, and
the snrplas over tlxed charges has decreased $129,806. Of the $450,482 Increase In freight earnlnge, products of mines, Including bullion
and lead. contrPjutert $392,233.
Beet Sdqab Plants.—The beet sugar factory [of the Great Western
Sugar Co.] at Loveiand, Col., referred to In tne last two annual re
ports, haa another very successful eeason. The number of tons of
beets handled by your company for said factory was 94.941 tons, as
compared with 49,130 tons last year. Additional beet sugar factories
are In process of erection at Fort C >Uln8 and Windsor (near Greeley),
Colorado, and will be prepared for active work this season.
ExPBNSES. —The Increase in cost of operation was due to a number
of causes, among whloi may be mentioned
First. Increased prices for material and labor. It la believed, concerning this feature, that, on the whole, maximum figures were
attained during the year.
Second Inadequate equipment and track capacity to handle
promptly the trattlc offered. The number of revenue tons carried one
mile increased 24 65 per cent. A severe congestion resulted, seriously
angmentlng the cost uf doing business. Wuile the ton miles Inoreaaed
24-65 per cent, freight earnings Increased only 10-38 per cent, or,
stated In another wav, the average rate per ton mile fell from 1'204
cents last year to 1-066 cents this year, which Is accounted for by considerable increase in low-rate commodities. The oongbstion was relieved som«^ time t'iace, and with the addliional power and oars recently received, ana new parsing traok.s batlt, the company is at
present in better position than ever before to handle maximum trainloads expedli ionsly.
Third
An aaditlonal throuch passenger train between Denver
and Fort Worth, only one having been run before. The necessity for
this additional train was made Imperative by oompeiltioa, and
beeause of developing commerce In Northwestern Texas and between
the Rocky Mountain region and the tjuuth. The northern Pan-Handle
section of Texas adjacent to the Fort Worth <b Denver line, is undergoing a slgbiticant change from large cattle raagea to a stock-farming
country. In order to keep pace with and aid this development, a dayThe passenger and express
light service became iDdlspenaabie.
trafflo show satlefaotory growth.
:

.

Nov.

THE CHRONICLE

14, 1903. J

Fourth. An Incresie In 'car servto* •fcoonnt, due to a ohanse on
Jaly 1, 1802. from a mileage to a per diem basis, whtoh Inoreaaeil expeurea beoause of the lariie number of ooal and other branches and
terminal trai ks; and also because of the oondeatlon above referred to.
Maimtenanok of Way —The number of orosBtles laid In for maintenance of existing trxoks was 3 •9.5('9, as compared with 394, 89^
darlHK the iirt-oedlnij year. The SJ-5 miles of 7&-pound rails, referred
aad Di s
to In last annual report were !ald between Trinidad, Col
Moines, N'ew Mexico, and It Is expected that dnrlnit the o\irreut sea."^6 miles, will
son the re layln« of the line from Des Moines to Texllne.
be completed with rails of the same welifht. The Jieneral physical
condition of the property was well maintained during the year.
AUDir— The acoonntK have been vorlfled by the Audit Oompany of
New > ork. whooe ci^'rtltliiate appears after the balance sheet on page
Mo. 11 of pamphlet report.
Of the 4,401,751 tons of freight oarripd. 35 40 p. c. was
bitnmlnoaa coal, 10 61 was lignite ooal, 716 p. c. coke and
13'88 p. c. ore; remainder scattering.
OP8BATION8 AMD FISCAL RK8CLTS
,

liJ02-O3.

Average miles operated.

—

1,121

1^01-02.
1,133

1900 01.

1S9900.

1,142

1,142

Opevulioni
Rev. pascengers carried.

932.769
832.385
687,887
605,065
40.771,058 88,2i8 823 31. 3.')1.208 27, 102, ti:>0
Kate per paKs. per mile.. 2-657 cts. 2-647 ots. 2-74 ota. 2995 ots.
Revenue freight (tons).. 4.401.751 3,669,861 2.927.364 2,564,647
Rev. freight (tone) I m. 449511165 360807903 303179266 258943438
Rate per ton per mile... 1066 eta. 1-204 ots. 1-207 cts. 1-242 cts.
188-17
214-.%6
179
153
Av. rev. train load (tons)
$')-99
$1-16
«101
$0-94
Earns. per patus.trala mile
$2-29
$3-16
$2 26
$1 89
Earns, per freight tr.'mlle
Qross earnings per mile.
$5,478
$1,926
$4,200
$3,712

Do

do

Imlle

1

£amingi—

!^

4,7»o.4'20 4,339,938 3,720,623
Freight
1,088,390 1,011,975
859,441
Passenger...
26i>,179
228,414
214585
Express, mall and mlecel.

8,216.918

811.835
203,990

6,580,327

4,794,649

4,237.743

Expenses—
994.900
951,554
Maintenance of way. etc.
73-^,591
913,979
Malnt. of equipment
Conducting traneport'n. 3,573,364 2.1b6.966

697,843
636,681
2,017,^82

532.205
60^,872
1,838,492

169,134
216,180

155,463
204,431

197,923

6,142,989

Total

192.^38
233,630

General

Taxes

.

1?>6,282

1871

The stockholders, on Jnlv 21, 1903. anthorlzed an increase of the
capital stock to $26,000,00i) (common 160 000 shares, preferred
100.000 shares). No action haa been taken by the directors under
this authority and none la onntemplateil for the present.
Bonds — ElKlity-three thousand dollars of 4 per cent Ohio Southern
Division tlrst mortgage bonds were sold t> provide funds for the payment of the Dhlo Southern car trust notes as ihey matured; $9 0,000
Detroit Southern 4 per cent bonds were also sold" to pio^Me funds for
the purchase of the Iron Railway and th^ bulldlni? of the company's
Ironton Extension to connect the two properiles. The remaining
$^0,000 bonds required for this nurpose, having been issued since the
close of th» yeir, do not appear t last year's ll<ure'«.
number of now ooal mines are being opened in
New Traffic
the Jackson- Wellston Helds, and along the line of nur Ironton Extension, giving promise of a largely Increased output of coal, and several
importiint Industries are being built at various points along our track,
from which a very considerable tonnage may be expected Bince the
close of the year arrangenumts have been made under which we are
hauling a share of the lake ore moving to 8 >uthern Ohio furnaces, an
earnest of what may be expected when we shall have developed the
necessary docks and faoUttlea to enable us to properly conduct a lake
ooal and ore-carrying trade.
Trackage Granted.— A ninety-nine year contract (eflfrfctive Sept.
1 of the present year) on terms satisfactory to the board has been entered into between this company and the Grand Trunk Company's
subsidiary line— The Detroit <te Toledo Shore Line RR. Co.— giving to
that company the right to use 10 miles of our tracks between Trenton
and Delray.
Ironton Extension,— Owing to various delays, the Ironton extension was not opened for tratllj until within a few days of the close of
our fiscal year. It was therefore nece.i8ary to operate The Iron Railway as a separate property, and it not being connected with the Detroit Southern tracks, no appreciable results Inured other than earnings amiUy covering the operating expenses and the tlxed charges incurred in Its purchase. Its physical condition has been greatly Improved; the cradlti at the Ohio River transfer and 14 small bridges
have been rebuilt. Since the completion of the extension and Its connection with our main line by trackage rights over the Baltimore A
1

—A

Ohio Southwestern between Jackson and Bloom, the extension and
the Iron Railway proper have been made a part of our Southern Division and m its operation the results have been eminently satisfactory, fully pr.ivlng the wisdom of the purchase and extension.
The earnings and expenses of the Iron R-tilway as an Independent
property for the year ending Jane 30, 190 J. were: Gross earnings,
$8'i,898; net earnings, »34,U40; leas taxes, $3,876,

and

interest, $24,-

000 balance, surplus, $6,163.
Of the 1,701,580 tons carried during the late year (contrasting with 1,582,760 in 1901-02) bituminous coal furnished
865,050 tons (54'04 per cent), as against 855, 252 tons in 1901-02.
Locomotives owned, 65; inorease during year, 5; cars iu
passenger service, 35; cars in freight service, 4,848 (increase
500), of which 20 are held under lease.
8tatistiea,—ThQ operations, earnings, charges and balance
sheets follow:
OPERATIONS.
1902-03.
1901-02.
Average mileage operated
381
381
Passengers carried
322.350
318,280
Passengers carried Imlle
11,270,200
9.660,200
1'60 ote.
Average receipts per passenger per mile
1'70 ots.
Passenger earnings per mile of road
$575
$538
52*44 cts.
earnings per train mile
Passenger
47"81 ots.
Average number passengers per train mile..
27
22
Tons freight carried
1,701,580
1,582,760
Tons freight carried 1 mile
....203,704,000 185,643,100
5*48 mills
5':^7 mills
Receipts per ton per mile
Freight earnings per mile of road
$2,930
$2,570
$1*75
FreUht earnings per train mile
$l'5»
Gross earnings per mile
$3,792
$3,255
Average tons of freight per train mile
319
290
Mileage of loaded freight oars-north
7,274,760
6,619,611
Mileage of loaded freight cars— south
1,888,283
1,793,985
Earni <g8~
Freight
$1,116,231
$979,076
Passenger
180,802
164,231
Mail
23,333
23,949'
Express
15,402
14,831
Miscellaneous
109,631
57,819
;

4,90'?,lll
Total
(79-89)
expenses to earns..
1,234.878
Net earnings
68,875
Investments, etc
P. o.

4,260,425
(7tt-H4>

1,319,902
59,460

3.712,300

3, "130.774

(77-42)

(7«-60)

1,082,349
42,176

906.969
38,421

1,379.362 1,124.524
945,390
772.568
730,517
715.120
696, '96
3.7S6
Mlecellaneocs
24.232
22,086
3.850
Dlv. on istpref. 8took.(4%)340,000(8%)26?>,000 (2%) 170,000 (2%)no,000
1,293,753

Total

Deduct Interest

Total

1,136,800

1,007,603

$156,953

Sorplaa...

$371,759

BALANCE 8HEET JUNE
1903.

New equipment....

Cash
IndWIdnals A cos..
Agents A conduct.
D. S. Government.
Colorado warrants

Advance Insnr'nce
Material8& supul's
D. U. U.
P. U. U.

4 Ky. Btk.
A HK. stk.

do do alnk'g fd.
Other securities...
Discount in bonds

A miscellaneous.
Total

-V. 77,

p.

8, 895,630

275,376
144,222
19,791
674
10,611
612,141
80,000
8,120
10,»00
170,201
1,

1903.

1902.

Liabilities—
$
$
Stock, common .... 31 ,000,000 3 .000.000
do
Istpref
8.500,000 H,.500,000
do
4d pref
8 500.000 8,5(i0.0i
Firtt mtge bonds. .18,803,000 18,474,000
1

63,486,038
8•^H,914

1,749,282
903,211
220,4P5
169,732
80,974

861
8,'258

390,28-1
80.1.00

8.120
9,'1lio

1,49- ,073

Car and locomotive
trust notes
1,243.379

Vouchers

370,938

Paj-rolis

102,319

70.058,689 69,476.082

776,168
241,963
269,979

Foreign roads

26s',f27
89,8 >7

Coupons
Accrued taxes

215,f>55

Accr'd int njt due
Equip, renew, fund

313,383
62,740

307,900
37,144
75,00j

l.>^87

4i,<'52

Ksil renewal fund
Kalis released

Miscellaneous
23.189

870,046
$75,344

30.

1802.

Assets—

Road and eqnli>ment
63 .460,751
9v.!<,6lt«
Improvements

838,876
$235,643

Profit

and

loss

Total

11,620

12,447
661,168

14!i,9rt7

13,140
278.34

7,62*

8CT,205

70,( 58,589 69,4'; 6,082

17M.

Detroit Southern Biiilroad.
CReport for the fiscal year ending June

SO, 1903, J

President Samu-;! Hunt says in substance:
General Results - The gross earnings during the year increased
$204,994 and the net earnings Increased $110,170; the surplus over
charges was $12,292. While there was some increase In rates of
freight, they have been disproportionate to the added cost of operation caused by the greatly increased price of fuel (about 323^ P- c),
labor, and other items of expense of operation.
Renewals. Etc —Attention els called to the necessity for continued
heavy renewals in both roadway and eqalpment made necessary
by the conditions referred to in the la'^t report (V. 75, p. 1145), conditions which we have found It hard to cope with and which will continue to trouble us for some little time to come.
Nine miles of our main truck has been relald with new seventypound steel, 33,272 feet of new sidetracks have been built to mines
and Icdastrles. E.even bridges have received heavy repairs and
eighty bridges and trestles received llghtrepalrs. Twenty-nine mllesof
fencing was eonstruoted and sundry other Improvements were made.
Wages -It has been necessary to further equalize and adjast the
rate of pay of our employees, entailing upon us aa average increase In
this expense of 713 per cent In the roadway department, 10 per cent
in train and yardn^en and 723 per cent in the motive power and equipment department.
Kqctii'ment.— Our shops have been pushed to their utmost capacity
In making repairs to equipment, and a considerable expense will be
forced upon us during the coming year in equipping with air-brakes a
sufficient number if freight oars to comply with a recent ruling ol the

Commerce Commission.
Theaiopiijn of the per diem charge, on July 1, 1F02, resulted In the
return to us by connecting lines of a great many of our oars In unserTlceable condition, adding to the large number of bad-order oars already OM our sidetracks, and the unusual amount we were compelled
to expend on car repairs was taken care of In our accounts by chargInter-State

ing $85.00(., not provided for in operaiine expenses, direct to better-

ment of equipment. The board did this with regret, but felt that it
was not just to the property under the circumstances to charge so ex-

traordinary an expense of this nature incurred in ihe distinct betterment of the I roperty to the operating expenses of one year.
Five new engines and 500 new 80,000-lb8.-capaelty ooal cars
were purchased and are now In service. Ihelr cost, $453,560, was
met by a cash payment of $53..= 60, and the negotiation of a ten year
car trust for $4. O.OOu, payable in ten equal annual instalments, with
interest at 4is per cent.
New Stock.—The cash payment, $53,560, for new equipment,
together wlih funds lequired for the purchase of the Iron Railway
over and above the proceeds of the bonds eold for that purpose (elsewhere referred to), and to cover sundry other betterment* to the
property, was provided for by the sale of 4 870 shares of the companj ectmrnonard b,QCO ehaiee of its preferred treasury stock at
201a to 2178 fcr the ccmmon and 3fc Sg to 4138 for the preferred.

Total gross

$1,444,900

$188,158
212,618
661,036

$1,089,935

Total operating expenses
Per cent of expenses to earnings
Net earnings from operations

$1,239.90&

$204,589
231,339
611.387
42.620

Expenses—
Maintenance of way and structures
Maintenance of equipaent
Conducting transportation
General expenses

$995,110

(75'43)

$244,796

$54,000
288,673

Total taxes and interest

$48,000
270,000

$342,673

$318,000

8ur.$12,292

Balance

del.$73,204

balance sheet JUNE
1903.

Assets—
Cost of road and

equipment
rash in treasury

1902.

$
25, ,634,«00 23,381,027

.

47,377

.

Agents, the U. S.
P.O.. etc
Traffic balances
Individuals & cos..

&

(65-9)

$354,965

Deduct—
Taxes accrued
Interest on funded debt

Mater'ls

33,298

supplies

16,570

140.992
5^.060
36.466
45,8^4

101,136

Total.

i

1903.
lAabilitits—
500,010
Cf^mmon stock
10,
6 50j,000
Preff rred stock
Bonds and car trust
notes
8, 700,233
102,020
Accounts payable.

.S9,488

Pay

21,«h9
69,227

taxes accr'd
Traffic balances
Mlscel. accounts.

Oliio So. Div. treas.

bonds

30.

Ini

.

Profit

8.000

25.985,620 23,608,376

—V. 77, p. 1538, 1225,

57,891
91,597

rolls
fs.

and

loss

11,008

1902.

$
10, 01 3,0'

6 ,000,000
7, 345.961

8«,5«8
66,075
84.470
9,630

62t
,

611

20,846

9.216

.25,935,620 23,608.376

Total.

Detroit Mackinac Sc Marqaette BB. Land Grant Bonds.
(^Statement of trustees Jan. 1, 1902, to Oct. 1, 1903J.
The receipts and disbursements from Jan. 1, 1903, to Oct. 1,
1903, were:
Ssccivis "*"
Credit Jan. 1, 1902
On contracts and deeds.

$17,917

sales
Interest en oontractB
Other interest
Land leases
Canceled applications...
Mining leases

161.846
69,059
31,948
10
3,490
18,787

On timber

Total

8 15,786

$1,116,843

Offsets—
dept. expense ac-

Land

count
Adjustments.
Interest on bonds (6 p.o.)

Tax account
on hand
payable on demand

$108,667
941
166.260
2,705

Bills receivable

Cash

in

bank

Total

Oct. 1, '03.

768,860
69,710

.$1,116,848

THE CHRONICLE

\H7'2

The acreage applied for and sold to Oct. 1, 1903, was as
follows:
No. of aores In orli;lnal grant, after dedaoUng 20,000 aores
1,307,129
to oonstiaotion company
Deduct—
roonsideratlon,
$599,3^6]....
No. o( acres deeded
-No. of acres under contract.. [oonslderatlon, $1,281,983]....
No. of acres applltd for, purtpald

118,982
998,970

*80

1,11R.272
ToUl deductions
188,857
No. of acres unsold
' Mineral rights are reserved on 89,747 acres sold iu Marquette Oo.
In addition to the nnscld land, timber and reserved min
eral rights there is the Armenia mine, not now in operation,
and several mioing options, and mineral possibilities in tha
lands ncsold.
The amount of bonds ontstan ding and the current, etc.,
assets other than lands, were on Oct. 1, 1903, as follows:
$2,771,000
Bonds outstanding Oct. 1, 1903
Current assett. etc.—
$1,083,147
Oaehand nejfotlable paper on hand Oct. Ist, 1903
500.136
Balanced of principal unpaid on land contracts
50,000
Balance of principal uhpald on timber contracts
48.222
Interest on laud and timber contracts (estimated)

$1,681,506

Total

There is |S35,000 in cash, etc., applicable to purchase of
bonds, and offers to sell |500,000 of the issue were received
until Nov. 10. See circular on page 1873 and V. 77, p. 1583.

Manhattan (Elevated) Railwaj Company.
{"Report for the year ended Sept. 30, 190S.J

President Oould, at the meeting on Wednesday, said:
since the last annual meeting the elfotrloal equipment of the company's lines has been completed and the expectations of the management have been fully realized, both as to inoreasein carrying capacity
and economy of operation.
On April 1, 1903. the lease of your company to the Interboroagh
Rapid Transit Co. took effect and possession of the property was delivered on that day to the lessee, which has since operated the railway.

PasseDgers carried for a series a years:
Tear.

1903.

1902
1901
1900

Patienifcrs.

lear.

1899
1898
1897
1898

Paitengera.
.255.565.390
823.427.283
191.152,316
183,788,851

Year.

177,204,558
179.728.356
18S,184.641
182,437,244

1895
1894
1893
1892

Pat$engers188,072.645
196,159,323
219,621,017
216,122,576

The earnings for the years ending Sept. 80 compare as
below. The dividends include 1 p. c. extra paid for the 9
months ending Mar, 31, 1903. Under the lease dividends of
6

p. c.

with

per

1 p. c,

annum

are guaranteed to Jan. 1, 1906, together
additional, if earned, and thereafter 7 p. c.

BALANQP SHEBT AUGUST
1903.

190102.

1900^01.

1899-00.

Oroaa pass, earns... $12,651,977 $11,067,746 $9,620,564

Op. exp. and

5,429,474

taxes..

Net earnings
Other Income

$7,222,503 $5,522,351 $4,291,916 $3,920,036
345,859
516,800
835,308
835,387

Total net Income.... $7,568,362
Interest and taxes..
2,844,564

Total

$4,723,798

Dividends

6,545,395

$9,115,348
5.328,649
5,196,312

$6,038,151
2,712,089

$5,127,223
2,683.132

$4,755,423
2,688,644

$3,326,062

$2,444,091

$2,066,779

(7>4)3,894,000(4)1,920,000(4) 1,920,000 (4)1,920,000

$829,798

-Surplus

$1,406,062

$524,091

$146,779

The balance

to the credit of income acconnt has been
increased by |662,822, the amount heretofore charged against
income acconnt for taxes to Dec. 31, 1899, in excess of the
amount finally determined and naid making the total surplus
as of Sept. 30, 1903, |7. 103,772, The balance sheet of June 80,
1903, was given in V. 77, p. 348.— V. 77, p. 1538, 348.

American Cotton Oil Company.
("Report for the Hacal year ending Aug. SI, 1903.

The remarks of Chairman George A. Morrison with balance sheet and profit and loss acconnt will be fonnd on
pages 1878 and 1879.
Following is a list of the subsidiary companies:
Alabama Cotton Oil Co., Montgomery. Ala.
Amerloan Cotton
Arkansas Cotton

Oil Go. of Ohio. Cincinnati, Ohio.
Oil Co , Little Rooft. Ark.
Robert B Brown Oil Co., St. Lonls, Mo.
Oaplt»l Fertilizer <& Manufacturing Co., Jackson. Mlsa,
N. K. Falrbank Co.. Chicago, 111.
Georgia Cotton Oil Co., Atlanta, Oa.
BUsRlesippI Cotton OH Co.. Meridian. Miss.
National Cotton Oil ''o.. Honeton, Tex.
New Orleans Aold & FertlUzar Co., New Orleans, La.
North Carolina Cotton Oil Co., Raleigh, N. O.
South f'arollna Cotton OH Oo , Columbia. 8. C.

31.

1908.

$

A$tets—
Real estate,

$

1900.

1901.

S

$

12,433,122 12,108,723 11,606,080 11.533,004
Cash
1,880,493 1.846,448
617,909
885,019
Bills &aoo't8 receivable. 2,348,099 2,337.482 2.144,046 1,846,664
etc., eto

Proilucto, raw material,
etc , available

Good-wHl, patents,

3,571,247

eto. .16,576.768

Total anseta
Liabilitiei

4,468,038 4,231,549 3,685,276
16,678.034 16,998.925 17,074,126

36,209,724 36,838,575 35,488,509 35,028,987

—

Common

20.237,100 20,237,100 20,23'^,100 20,237,100
10,198,600 10,198 600 10,198 600 10,198,600
Debenture bonds
3,000,(00 3,000.000 3,000,000 3,000,000
BHls parable
1,050.000 1,000.000 1,000,000
''ommerolal accounts....
871,441
330,859
662,824
597,332
Accrued Interest
11,8.'>0
11,260
11,250
11,707
Dividends
1,115,442 1,620,184
710,700 1,014,256
stock
Preferred stock

Total liabHltles
77, p. 1747.

36.209,724 36,838,576 35.488,609 35,083,987

-V.

Standard Milliner Company.
(Report for the year ending September SO, 190S.J
Secretary Jos. A. Knox says
The results for the first half of the year were very favorable- Sinoe
Jan. 1, however, the profits of the previous six months have been
much reduced by strikes In New York and In Minneapolis Involving
upwards of one thousand men. Moreover, the wheat market was
practically cornered for several weeks, whlca made It difficult to procure ca(<h wheat for the running of the mills.
In revlslDtc the Recounts of the various mills It was found necessary
to charge off considerable amounts which had not been adjusted when
the properties were turned over by the receivers, and which were not

properly chargeable to the business of the year. AH of the books of
the mills have now been audUert, a uniform system of accounting has
been Inaugurated, and the business of the company is on a much better
basis than it has been at any time hitherto. At present all of the mlUs
are making money and the outlook Is encouraging.

The income account and balance sheet follow.
Income for year ending Sept. 30, 1903
Deduct—
One year's interest on first mortgage bonds
Dividend, 1 per cent on preferred stock

$204,210
172,588
68.860

Total deductions
$241,448
Balance, deficit, for year
$37,238
Balance to credit of surplus account Sept. 30, 1908
$666,444
Dedact organization and other extraordinary expenses not
81,781
l)roperly chargeable against this year's income

Balance, aurplna, Sept. 30, 1902

..$587,475

BALANCE SHEET SEPT.
1903.

&

Cash

156,?71

91,461

5,260

bills recelT.

6,260
778,752

Interest accrued on

bunds owned

Surplus earnings.. b831,801

Met

avail,

assets

branobes

351,233

311,838

Rent due from N.

W. Consol
Investments
Insurance fund

30.

1902.

Assets—
$
%
Hlant.trade-marks,
good- will, etc.... 8,043,171 8,024.633

at

1902-03.

[Vol. lxxvii.

9,000
0454,000

LiabilitUs

1602.

1903.

—

%

t

Preferred stock... 6,900.000 6,900,000

Common

stoclE.

...

4,6j0,'iO0

First mort. bonds. a3,49c,000
Interest accrued (5
70,766
months)....
..
5',»<83
Insurance reserve.
Loans
30,000

4,600,000
3,447,000

00.704

Surplus earnings
aocoont
b537.47S

666,444

450,000
310,000
27,908

d35T,623
OrKaniz. exp., &o
Secur. covered by
1st mort. bonds. e5.599,0O0 5,5951.000
90,000
45.000
Sinking fund

Total assets. ,,.15,6S7.864 15.673,148

a Authorized

Tot. llabllitles.16,687,864 16,«73,148

$6,250,000; held in treasury to provide additional working capital, S50O,OO<); to take up outstanding H. J. J. M.
Co. and N. W. C. M. Oa. bonds, $<:,213.000; returned by reurgdntzatlon
committee and S. Thomas, trustee, $45,000; balance outstanding,
$3,492,000.
bDaluth Superior Milling Co., $29,468; Northwestern Consolidated
Miuing Co., $395,281; proportion of surplus earnings of HeokerJones-Jewell MiUing Co., $197,062.
c Capital stock— DQiuth-Superlor MlHlng Co.. $250,000; 5 p. c. debenture bonds Northwestern Consolidated MHling Co., $200,000;
Elllcott Warehousing Co. stook. $4,000.
d Deposited with Metropolitan Trust Ca.— 5 p. o. debenture bonds,
Northwestern Consolidated MHling Co., $100,000; cash, $57,823.
e Heoker Jones-Jewell Ist M. tts. $1,052,000 (oat of $2,500,000),
$2,923,200 of tbe $3,000,000 preferred stook and $1, "^86, 600 of the
$2,000,000 common stook; alno $1,145,750 of the $1,250,000 common
stock and $S98,000 of the $1,000,000 preferred stook of Northwestern
Consolidated Milling Oo.
See also V. 77, p, 1252.—V, 77, p, 1750.
tissue,

GENERAL INVESTMENT NEWS.
BAILB0AD8. INCLUDING STREET B0AD8.
Albany & Hadaon ER.— Denied,—Treasurer H, Q. Bunkle
denies that this road has been leased or purchased by the
United Traction Co, of Albany.— V. 76, p. 692.

Atlantic Coast Line ER.— Lwfed.— The New York Stock
Exchange has listed $1,363,000 additional first consolidated
mortgage 50 year 4 per cent bonds of,1952, making the total
The above-mentioned bonds have been
listed 155,844,000,
issued as follows
$4,363,000 BONDS JUST LISTED.

OH Co Memphis. Tean.
$32,600
To take up old bonds and certificates of indebtedness
Union Oil Co. of LonlBiaoa, New Orleans, La.
For the acqalfitlon of the railways of Florida Southern
Union 11 Oo. of Rhoie Island, Providence, R 1
2,380,700
BR.; total length, 244 miles
W, J. Wilcox Lard & R-ttnlng Co., New York City.
Forihe acqalsltion of the Banford & 3t' Petersburg RB.,
Holland American Cotton OH Co., Rotterdam, HoUand.
450.000
153 miles
1,600,000
The following comparison for four years has been prepared For the acquisition of additional rolling stock
TOTAL, $35,344,975 FIK8T CONSOLS ODTBTAKDINQ.
lor the Chronicle:
For $12,461,000 Savannah Florida & Western 4 per cent
$12,451,000
PBOriTS AND DI8BDBBBMBHT8.
consolidated bonds
Tennessee Cotton

,

1902-03.

Net profits above all In-

$

1901-02.

9

1900-01.

$

1899-00.

$

terest. admlnlsira'n.

exp

(lepreda'n, 40.1.530,081
2,238,206 1,091,857
1,497.183
Olvldf-nrts on oom.... (1)809.484 (6)1,214,826(2)404,742 (3^)708.899
Dlvllendsonpref.... (6)611.916
(6)611.916 (b)611,9l6
(6)611,916
.

Borplus
Previous surplos

108,681
6,909,426

6,504.771

75,199
6,520,745

176,968
6,343.777

Total aarplua

7,018.106

6,916,835

6,596,944

6,520,745

412,084

For

$2,486..'S00

Wilmington

icates at 175

& Weldon

7 per cent

certif-

4,851,375

-

For $380,000 Wilmington

<&

Weldon 6 per cent

oertlflcates

at 150
For $2,988,900 Atlantic Coast Line 4 per cent oertifloates.
For indebtedness of Atlantic Coast Line BR. Co. to Atlantic

Coast Line Oo

.

For$l5,0ou Oreen Pond Walterboro & BranohvHle RK,
Co. mortgage bonds
For acqiilsitlon of railways of Florida Southern KB. Oo...
For acqulHlilon of Sanford & St, Petersburg BB
For acquisition of additional rolling stook

670,000
2,988,900

10,638,000
15,000
8,380.700
450,000
1,600,000

—

THE CHRONICLE

2^0V. 14, 1903.]

Report.— The results for the year ending Jane 80 were

:

Surphis.
1902-03... $19. «82,4,'S6 i7.772.tl9 fl, 192,954 $5,932,043 *2,«9;<.028
229,519 3,168.468 3.168.134
190102... 16,868,995 6,407,083
enrplns as above were paid dividends amounting to
From
$1,714,075 in 1903-03, against |l,863,169 in 1901-03, leaviag

Year—

Set.

Qro»».

0th. income.

Ohargeji.

$1,378,958 in 1902-08, against 11,605,964 in 1901-02.— V. 78, p.
971.

Atlantic & North Carolina RE.— Report.—The resnltg for
the year ending Jane 30, 1908, were Gross earnings. f304,Improveinterest, taxes, etc., $33,716
107
net, $108,645
ments, eqnipmenr, etc., $49,833 balance, earplus, $25,996.
Proposed Readjustment - New JBond*. — President Bryan,
in the annual report, discusses at length the necessity of replacing with 80-lb.-rail the 45 and 50-lb. rail on 60 miles of
road and of providing new equipment to meet increaeing demands of busineBS. He suggests that an effort be made at
once to arrange for an exchange of the $325,000 first mortgage 8 per cent bonds doe 1917 into new 50-year 4 per cents,
thus reducing the interest charge on this issue from $19,500
to $13 000, and to also put out, as required $285,000 4 per-cent
second mortgage bonds to pay for the cost of the improvements mentioned. This would make the total interest charge
$34,400 per annum, or $4,900 more than at present.— V. 77, p.
:

;

;

;

;

,

1873

&

declines to pay any compensation to the city. Haskins
Sells
report that under the conditions laid down the company will
lose money during the first ten years of its franchise, and
that during the entire term of twenty years it will make no
Co. say that the company will lose
money. Jones, Caesar
money for three years, that at the end of that time it will
begin to make expenses, and that at the end of the twenty
years the company will be a little more than even, after paying 6 p. c. on the capital invested. The board of aldermen
seeks to require the payment of 10 p. c. to the city. V. 76,

&

—

p. 477.

Chicago General

Railway.— Aforfflfaj^e.— The foreclosure

suits agaiuat this company are still pending, and decrees are
expected shortly. Friends of the company, however, are
striving to resuscitate the enterprise, and for that purpose

have caused the Chicago General Ry., the West & South
Towns Company and the Midland Transit Co. to unite in
making a mortgage to the Wisconsin Trust & Security Co.
of Milwaukee to secure an issue of $600,000 four per cent
bonds of the Midland Transit Co., dated July 1, 1903.— V.
77, p. 510.

Chicago Midland
General Ry. above.

Transit

Co.—Bonds.— See Chicago

Chicago Union Traction Co.— Voting Trusts for Leased
The protective c ommittee having voted to disband,
Baltimore & Ohio RR.— Sa/e of Bonds.— The $9,800,000 leading shareholders of the West Chicago and North Chicago
bonds sold last week to Speyer & Co. and Kuhn, Loeb & Co. street railroad companies have thought it wise, in view of
(V. 77, p. 1745) are bonds that were held in the treasury, the pending negotiations with the city touching franchises,
having been issued on account of outlays for improvements to establish a five-year voting trust for each of those commade during the past two years. The sale will reimburse panies. The proposed voting trustees, who will be the same
the treasury for these expenditures. It will not increase the in each case, are A. A, Sprague, Lafayette McWilliams,
company's liabilities as shown in the balance of June 80, 1903. Marshall E. Sampsell, Henry A. Blair and F, H. Rawson.
—V. 77, p. 1745, 1532.
Strike on Independent Line. See Chicago City Ry. above.
Boston Snbarban Electric Companies.— iVet« Stock.— The
V. 77, p. 1746, 1532.
Massachusetts Railroad Commission recently authorized
Colnmbas (0.) Terminal & Transfer RR.— See Norfolk &
the Newton Street Ry. Co. to issue $185,000 new capital Western Ry, below.— V.
75, p. 1302.
stock at $125 per share to stockholders, to pay off floating
Cumberland Valley Ry. Merger.— See Northern Central
debt.-V. 77, p. 1224.
Ry. below.— V. 72, p. 532.
Canadian Northern 'Ry. —Rolling-Stoek Bonds,— The CanDelaware Valley RR.—SoW.— At Stroudsburg. Pa,, on
adian Securities Limited, of Toronto, in a circular offering
on a basis to yield the purchaser 53^ p. c. interest, the series Nov. 10 this road was sold by the Sheriff to S. E. Shull, son
B bonds of the Imperial Rolling Stock Co., which were de- of Congressman Joseph Shull, for $825, subject to a mortgage
for $190,000 under which the Wilbur Trust Co. of Bethlehem,
scribed last week (page 1746), says in part:
1384, 628.

Lines.

—

—

—

The Imperial Rolling Stock Co., Limited (William Mackenzie, President), ha8 a paid up capital of $300,000, and has Issued bonds as follows: Series A. $1,330,148, and series B. $2,100,000. These bonds
are seoared by all the aafe-gnards employed In Issuing oar trnitt bonds.
The present issue Is particularly attractive. The railway oompanv
has paid 15 p. 0. In cash of the purchase price, so that the bonds are
Issued for only 85 p.o. of the cost of the rolling stock. The engines and
OAra are leaded to the Canadian Northern Ry. Co.. which agrees In
the lease to deposit w th the trusteee annually an amount sufJiclent
to pay the interest and the bonds as they mature. The Imperial Rolling Stock Co. win hold the title to all the rolling stock until the rail-

way company

has paid the last Instalment
stock covered by the mortgage Includes: 1,322 30-ton
boxcars, ."lO 40 ton gondola flat ears, 30 cabooses, 2 tourist coaches,
• seoond-claBs coaches, 32 engines. 50 stock cars, 165 SO ton flat cars,
4 flret-class day daches, 3 sleeping coaches. 3 baggage and mall oars.
The Canadian Northern Is In operation through Ontario and Manitoba, about 1.300 miles, and contracts have been let for oonstruotion
aa far west as Edmonton. The bonded debt per mile of line Is under
$13,000, which will compare favorably with any other Una on the
•ontlnent. The earrings are very highly satisfactory. The fiscal year
ending June 30th 1903, made the following showing: Gross earnings
82,304,450; operating expenses, $1,532,875; net earnings, $771,575;
fixed charges, $617,976; balance, surplus, $153,599. This does not
include earnlnea from elevators, rents, etc., which amount to about
$100,000. Daring the above period some of the mileage now being
operated had not been completed and all the rolling stock now on
band had not been received. The earnings for the first three months
ending Sept. 30, 1903, were $776,400. an Increase over the corresponding period last year of $330,900.— V. 77, p. 1746, 694.

The

rolling

Cane Belt Ry.— See Missouri Kansas

—V.

& Texas

Ry. below.

73, p. 956,

CtaarlottesTille City & Snbnrban Railway.— SoW.— At
the foreclosure sale on Nov. 10 the property was bid in for
the bondholders, subject to $25,000 first mortgage bonds, etc.
The bondholders' committee consists of R. H. Wood, C. J.
Rixey and L T. Hanckel. "The amount paid is equivalent
to from $55,000 to $100,000." See V. 77, p. 1394.

Chicago City Ry.— Sfrifce.— On Thursday practically the
entire force of employees, about 3,00i) in all, went out
on a strike having for its object increased wages and
the exclusion of non-union men from the company's service.

The company claims that a considerable percentage of the
men is loyal and would work if guaranteed protectioc, and
on Friday a number of cars were run with the assistance of
the police. The other transportation lines are doing a rushing business, owing to the closing of the Chicago City Rail-

way

lines.

See V. 77, p. 510.
is trustee.
Detroit Mackinac & Marquette RR.— Circular.- The
bondholders' committee, Jefferson M. Levy, Chairman, has
issued a circular under date of Nov. 4, taking exception to
the arbitrary value of 65 suggested for the bonds by trustee
F. E. Driggs, and says in substance:
Pa.

,

While your committee is not prepared to submit a plan for the pur*
chase of the property from the trustees with a view to realizing eventually a considerable sum in excess of the par value of the bonds, it
believes the organization of a company in the Interests of the bondholders for these purposes perfectly feasible. In view of the large
fund subject to imnuediate use for the retirement of bonds (namely,
$825,000, of which the $500,000 of bonds now mentioned by the trustees is but the first Instalment), It is obvious that the proper time to
present the plan will be after such retirement, inasmuch as by this
process the personnel of the bondholders must suffer considerable
change and the situation become Immeasurably simplified.
Your securities, by virtue of land sales already made, must bear interest at 7 p. c.until 1906, probably until April 1st of that year; thereafter the interest becomes dependent upon the proceeds that may be
received from the unsold lands, timber and mineral rights, of which
there remains 138, 8'^6 acres owned in fee, some 147.000 of these being in the mineral districts, and 90,000 acres additional in the mineral counties in which the mineral rights have been retained.
The trustee's statement shows live assets on hand equivalent
to over 60 per cent of the face value of the bonds. If the entire
amount of these live assets could be immediately applied to the redemption of bonds and a sale made of the remainlog land and rights
at even $4 per acre, the entire bond issue could be retired at par. We
personally believe $1 per acre too low an average price for the property and rights.

Norman G. Johnson
100 Broadway.

is Secretary of the committee, No.
See also report on page 1871.— V. 77, p. 1583,

823.

Erie

RR.— Quarterly.—The

earnings for the 3 mos. ending

Sept. 30 were:
3 months

1903
1902

-V.

Gross
carvings.
$liS,087,003

77, p.

Net
earnings,

$4,441,017
9,411,024
3,266,343
954,946, 823.

Other
income.

$79,376
101,601

Fixed
charges.

$2,931,248
2,673,133

Balance,
surplus.

$1,689,145
694,821

Foxburg Bridge Co.— Fore cZoaure.- Judge M. W. AcheUnited States Cir cnit Court at Pittsburgh, on
ordered the foreclosure sale of this property under
the $100,000 first mortgage of 1882 (Union Trust Co, of New
York, trustee), the amount due for principal and interest
being stated as $110,212. The bonds were guaranteed by the
old Pittsburgh & Western, since foreclosed.— V. 75, p. 1353,
son, in the

Nov.

11,

1086.

Ordinance.— The tentative franchise ordinance agreed upon
by the tranpscrtation committee and representatives of the
company provides a 20year grant, contains a waiver by the
company of claims under the Ninety-nine Year Act and
gives the city the right to purchase the plant, as a going
concern, at the end of the twenty years at a fair cash valua-

Great Northern Rj.— Certificates of Participation.— Kidder, Peabody
Co. on Thursday offered at 99J^ and interest Certificates of Participation, £200 sterling, or $972, in a
£1,500,000 5 per cent 2-year sterling loan made to the Great
Co. (Ltd.), Kidder,
Northern Ry. Co. by Baring Brothers

also provides for universal transfers, extensive
improvements in the plant and service, including underground trolley north of 18th Street, modern cars, the laying
of grooved rails on all paved streets and the paving of right
of way with dressed granite. The clause as to the compensation which the company shall pay the city is left blank.
The company says it will expend as much money as it
already has invested, take 5 p. c on the investment, and give
the city all it earns above that return on its investment; bat

in New York, subject only to the joint order of
the three firms. Interest and principal of the certificates
are payable in London, Boston and New York, Semi-annual
coupons are of £5 sterling, or $24 30, due June 1 and Dec. 1.
The entire issue, it is announced, has been sold in London.

tion.

It

&

&

Peabody & Co. and Baring, Magoun & Co, This loan is
secured by £2,000.000 St. Paul Minneapolis & Manitoba Pacific extension sterling 48, due July 1, 1940 (and selling at 101).
The collateral is deposited with the Bankers' Safe Deposit

Company

THE CHRONICLE.

1874

The Participation Certificate Is a new form of eecarity, a
conspicnons example of which is given io exrenso under the
beading -Hocking Valley Ry." below.— 7. 77. p. 1335, 777.
Gaayt«iail & (jnlto(Ecaadnr)

Rj.— Statu •*.— The company

Quito has been
abandoned.
Guamote, the present inland terminus, is
located on a plateau 10,000 feet above the sea, and forms a
denies; thst the plan for buildiug the line to

natural objective point, at which oonstrnotion is resting for
the present. No definite arrangem euts for further progress
have yet been made.— V. 77, p. 610, 198.

Hocking Valley Kj.— Participation

Certificates— Further

Facts.— lu view of the interest in the "Participation Certifi
cates" issued by J. P. Morgan en pledge of a block of this
oampanj's common stock, we have obtained the following
authoritative statement showing their exact legal status, together with a copy of one of the certificates:
Partlolpatlon certiHoat€if«, dated Jane 28. 1903, payable Jsne 28.
1906. Intfreet 5 p. o payable seuil aiinuallv on December aurt June
88; 69,2«'2 obares of the oi iiiiuon stock or ilie HocklnK Valley Ry. Co..
belns a nit'j itity of the cdnmon stock, wbiuti have been for some
mODths deposited with J P Morifan ijk Oo have now been sold to the
Laie Shore A MUhUan Southern. Pittobarifh Olnolnnatl Chloaito &St.
Loals, Baltimore A Ohio. Ch- aapeake & Ohio and Erie, each of which
hae a one rixth lu'erent In the purchase, with the exception of the P.
O O •& St L. which has a one-third interest. The oompaoles menHoned, with the frxoeptlon of the Erie, represent New York Central
.

,

•nd Pecnsylyanla Intereete.
To flnanoe the pun base a loan has been secured bv the roads mentioned abive. under an agreement between J. P. Morgan &Oo. and
theiuselvec. In which the roads pledge themselves to pay fi)r the stock
on June 28. 190b. The participation certlfloates, which are issued by
Mes.-ra. J. P. Mori^an <& Co., represent an Interest In the loan made
onder the agreement. The companies mentioned are several y reponelble fiT thfir share of the obil^atlon; but should any company

perform Its share of the agreement, any other company or com
panics may acquire the ('hare of the company In default, and there Is
no qaestion but that this won d be done. The loan, which Is fur $7.
270.410 U also secured by the 69, <:42 shares of common stock. The
preferred stock can be retired at oar, after which the common stock
will eDi.>y all earnings above the Interest Involved In retiring the preerred stock at par.
fall to

FORM OF PARTICIPATION CKHTIFIOATE.
Office of
No.

J. P.

Morgan

•&

Company, 23 Wall

St.,

New York.
$5,000

.

Hocking Vatley Participation
The undersigned hereby certify that

Oertificale.

is a participant to
the extent of
Dollars In the aggregate loan of $7,270,410,
for the purchase of common stock of the Hocking Valley Ry. Co.,
under and pursuant to the provisions of a curtain agreement dated
une 29, 1903, by and between the andersigned, as party of the first
part thereto, and the parties of tha second part thereto, termed the

lenders.

Under the terms and condKlons of the said agreement the holder Is
demand and to receive severally, respectively and ratably,
tbronth the undersigned, payment of the sum llrst above mentioned,
June 28, 1906, with Inttr.^st at the rate of 5 per cent per annum,
on
payable semiannually upon Dec. 28 and Jane 28 In each year, until
the maturity of said rlncip*! sum, aud upon the receipt of the moneys
therefor the undersigned will miike such payment of st oh Interest or
ot the pilncipal that may become payable In respect of this participation, bu only upon prepentatlon of this certificate for suitable Inscripentitled to

i

tion or for cancellation, as the case may be.
This cetlidoate and the Interests represented thereby are assignable
apon surrender hereof to the undersigned, suitably endorsed for
ransfer.

Dated,

New York,

.

Signed, J. P.

Morgan

<&

Co.

In other words the purchasing companies are obligated for
their share in the transaction in just the proportion previously stated, the contract constituting a virtual though
not a technical guaranty of the certificate.
Called Bonds,— Fifty-eight ($58,000) Columbus Hocking
Valley & Toledo Ry. Co. Car Trust Series "A" bonds have
been drawn by lot for redemption at par and accrued interest
on Jan. 1, 19U4, at the office of the Metropolitan Tiust Co.,
New York City.— V. 77, p. 1225, 777.
Iiidianapolis & Cincinnati Traction Co.— Purchase.— See
Indianapolis Bhelbyville & Southeastern Traction Co. below.

Indianapolis Staelbyvilie & Sontlieastera Traction Co.—
Sa^e.— The entire stock of this company was recently sold to
the Indianapolis & Cincinnati Traction Co., a new corporation organized with |2,000,000 stock and $3,t00,000 (outstanding) first mortgage bonds. See page 1939 of our "Street
RaUway Section."— V. 77, p, 250.
Interhorongh Rapid Transit Co.— Opening Delayed.— Contractor Jobn B. McDonald, as quoted, says:
When the subway will be open for tratBo now depends entirely on
the completion of the new power bouse. We do not expect to have
tbat ready before April or M«iy, 1904. A full force of men is at work
and the Plant Is tiiking shape as raiildiy as possible.
unforeseen dlffiouliles and delays.— V. 77, p. 823, 769.

There

may

be

Ibternatioiiai & Great Northern RR.— Purchase.— The
shareholders will vote Nov. 30 on a proposition to purchase
the property and franchises of the Houston Oak Lawn &
Magoolia Park Railway Co., in acccrdance with an Act of the
Legislature approved Feb 21, 1903 —V. 76, p. 1030.

Intfrarban Street Railway,

—To avoid the confusion due to

New York.- iVame

Changed.

the similarity of the names
of the Internrban and the Interboroogh railway companies
the Internrban has changed its name to the New York City
Street Railway Co. Frank S. Gannon has been elected to
the board,— V. 77, p. 1230, 1220.
Kaneag titv Fort Scott & Memphis Rj.~Called Bonds.—
Kansas City Fort Scot? & Gulf RR. first mortgage 7 per cent
bonds due June 1, 1908, viz., 46 bonds of |1,000 each, 3 bonds
of $500 each and 11 bondd cf i:10J each, drawn for redemption, will be paid at 110 flit on Deo, 3, 1903, at the office of
the trustees, at No. 50 State St., Boston, or at the Farmers'
Loan
True: Co., N. Y. City,-V. 77, p. 769, 196

&

Lake
Plan.

[Vol. lxxvii.

Street

—The

Elevated

RR

,

Chicago.- Heorganization

Hlginbotham

reorganization committee has
issued under date of Nov 9 the following plan, which haa
been formally approved by the protective committees representing both the stock and the income bonds
The property is to be sold under a creditor's bill, subject to
the lien of the first
irtgage, and a new company formed to
take over the road and to assume the present first mortgage
bonds. These bonds are to be deposited and stamped redeemable at 105 on any ititerest day, with the view at some
future time when market conditions warrant it of putting
the bonded debt on a 4-p.-c. basis
The amount of the first
mortgage will be reduced from $5,860,000 to |5,000,000 by the
cancellation of $860,000 of the bonds now held as collateral
to the loans of the company.
There is in the bands of the
public $4,500,000 of the first mortgage issue.
The capitalization of the new company will be as follows
First mortgage 5 per cent bonds (present issue, to be
Bt'imped subject to call at 105 as above stated). Total
:

m

:

to be limited to
Of which to be returned to holders
To be sold to syndicate
iVcic Preferred stock. 5 per cent non-cumnlatlve

Of which

$5,000,000
4,500.000
500,000

Income bondholders
To stockholders, if assenting and paying assessment..
To be sold to syndicate
to

New Common stock
To stoohliolders. If assenting and paying assessment..
To be sold to syndicate
Notes to Northwestern Elevated, due in five years, 2 per

3,200,000
8tiO,000

400,000
2,000,000

6,000,000
4,uuo.000
2,000,000

cent interest

350,000
$500,000 of the first mortgage
bonds, $3,000,000 of the new preferred stock and $2,000,000 of
new common stock, paying therefor .$1,400,000 cash.
The old stock and incomes will be treated as follows :

A syndicate will purchase

Pay
Holders of each, 9\.Q00.

X Income bonds (« 1,000,000)
common stock (* 10,000,000)

Oasti.
Nil.

$20

.

And

Receive

-s

Pre f Stock. Oom. Stock.
none.
$800
40
1J(400

x.^121,100 additional controlled by the company to be canceled.
For the claim of the Northwestern Elevated RR., amounting as of Ojt. 1, 1908, to $770,085, the new C( mpaay will
issue $350,000 debenture notes to miture Jan. 1, 1909, and to
draw 2 p. c. interest annually from Jan. 1, 1904.

The

Illinois

for both stock

Trust

& Savings Baokof Chicago is

depositary

and bonds

of lihe assenting holders.
Receiver Discharged.— JxxigQ Tuthill on Wednesday discharged the receiver at the requtst of all the original complainants. Intervening petitioners objected and an appeal

was taken.
Oatstanding stock must be deposited not later than Dec.

—V

15.

77, p. 1747, 1583.

It-land RR.— Authorization cf New Mortgage, Etc,
shareholders will meet Nov. 24 to take action on the
following resolutions:
1. To mortgage the property, rights and franchises to secure an
iseue of bonds to be used for refunding the existing debts and obliga-

Long

—The

tions (see V. 77, p 1533).
2. To leace the New York & Bookaway Beach By. Co.
3. To lease the Long IslandRR.Co.,No.8hor6branoh.— V.77, p. 1633.

—

MexICbD Central Ky. To Annul Advance in Rates It
was announced at Mexico City on Nov. 9 that the Government will require the withdrawal on Nov. 20 of the tarijff
schedule whicb, going Into effect on Sept. 1, advanced freight
rates 15 per cent. (Compare V. 77, p. 511, 250.) The decree
raising freight rates contained express provision that the
advance might be withdrawn by the Government when the
rate of exchange fell below 220. Compare V. 77, p. 251, 511.

-V.

77, p. 1747, 1225.

Michigan Central UR.-Listed.—The New York Stock
Exchange has listed $2,000,000 additional Z}4 pe^ cent first
mortgage bonds of 1952, making the total listed $12,000,000.
The bonds just listed have been issued for improvements and
betterments.— V. 77, p. 147.
Missouri Kansas & Texas Ry.— Reported Purchase.— A.
press dispatch from St. Louis announces the purchase by this
company of the Cane Belt Railway of Texas for a price stated
as "551,000,000, mostly cash."— V, 77, p. 692, 401.
Mt. Carmel & Natalie RR.— Receiver.— A.t Scranton, Pa.,
on Nov. 9, the Pittsburgh Trnst Co, was appointed receiver
for the road by Judge Archbald of the United States Court,
on application of the Farmerb' Loan & Trust Co., as trustee
under a $175,000 mortgage, and the Mercantile National
Bank of New York, a general creditor. The company has been
defaulting in its interest payments for many years. See V.
77, p. 1225.

National BB. of Mexico.— 12afe«.— See Mexican Central
Ry. above.

—

The following have been elected directors:
Directors.
Charles H. Tweed of Messrs. Bpeyer & Co.

Adrian Iselln Jr. of Messrs. A. Isnlln & Co.
Cleveland H. Dodge of Messrs. Phelps, Dodge & Co.
J. N. Wallace. Third Vice-President Central Trust Oo.
L. F. Loree, President Baltimore ifeOhio RR. Oo.
Co., at the request of the Mexican GovernMessrs. Speyer
ment, remain the fiscal representatives of the company. V.

&

77, p. 1747, 1225.

New

—

—

Orleans Ballways. -iVb Municipal Lighting Plant.
The city council on Nov. 3 adopted a motion rejecting the bid
of the Colonial Electric Co. for the construction of a muni-

cipal electric light plant, and directing the preparation of
plans and specifications for a ten-year lighting contract and
advertisement for bids.— V. 77, p. 627.

—
Nov.

THE CHRONICLE

14, 1903.]

1875

New York Central & Hadeon RlTer RR.—Neto Director.— guaranteed by the Pennsylvania RR Co. The bonds of
At a meeting uf the board on Tnesday James StlUman, Prea 1895 for $3,431,000, which have been held in the treasury of
ident of the National City Bank, was elected a director to the Pennsylvania, will be canceled, making the new issue a
sncceed E. V. W. Rossiter. Ha was also made a member of first and only mortgage on the property. The bonds are rethe eit^cntive committee. Mr. Stillman la supposed to repre- ported to have been sold to Kuhn, Loeb & Co.— V. 77, p. 1747.
sent Rockefeller interests.— V. 77, p. 828, 81!).
Public Service Corporation.— Purc/iasp.— This company
New York City Street Railwaj.— Aiei« Name.— See In- has acquired at $17 50 per $100 sbare, the holdlrga of Presiterurban Street Railway Co. above.
New York & Jersey (Taonel) KK.— Progress of Construo<ion.— President McAdoo was on Got. 29 quoted as saying:
We have built the north tunnel to within SCO ree"; of the New York

We have not mafl«
till early In 1904.
traction oompaniea recardln^r the passInK of their
oars through the tunnel. We are not ready to take up such matters.

shore.

It

will not

be ttnlnhed

any oontraots with

& Manhattan RR. Co. was incorporated dnrOctober, with |500,000 authorized capital stock, by Mr.
McAdoo and associates, to own the New Jersey end of the
tnnnel.— V. 76, p. 1249.
New York & Portchester (Electric) Rj.— Favorable DeThe Hobokeu

ins:

cision.

—The

Court of Appeals at Albany on Nov. 10 sus-

tained the State Railroad Commission in granting the company permission to build its road. The case was a proceeding in certiorari brought by the New York City & Westchester RR,— V. 77, p. 89.
Norfolk & Western Ky.—Termtnai«.— Negotiations are
pending with a view to some arrangement for the use of the
Columbus Terminal & Transfer RR. Co. at Columbus, Ohio,
bat so far as we can learn have not been consummated. See

V.

75, p. 1202.

:

Beal estate

Seoond track
Branches and exten'a.
— V.77, p. 1534,824.

J,,

251.

Louis Iron Mountain & Southern Rj.— Listed.— The
Stock Exchange has listed $12,242 000 River and
Galf divisions first mortgage 4 per cent bonds of 1933. The
bonds have been iseued as follows:
To acquire the railroad (152 miles) of the St. Loula Val. By.
St.

New York

$7,2f 0,000
Co., including ferry and terminal property
148,000
For $148,000 let mort. bonds of Union Ry. Oo. of Memphis.
For the railway acquired from White Klver Ry. Oo.
Memphis Helena <& ouisianaKy. Co. and Memp. Helena &
Louisiana RR. Co. (132 miles)
3,089,251
For ooni-truoiion of extensions of said railroads (45-S2 m ). 1,208,938
481*, 43
For railway equipment covered by mortKage as direct lien.
106,857
For ferry facilities and equip, covered by mtge. as direct Hen
See also V. 76, p. 643, 600, 1085.
Earnings.— For the 8 mos. ending Aug. 31, 1908, earnings
were:
.

Liaferf.— The New York Stock Exchange has listed $1,500,000 additional first consolidated mortgage 4 per cent bonds of
Tte pro1996, making the total listed to date $37,710,500.
ceeds from these additional bonds have been applied to reimburse the company "in part for capital expenditures made
for second track, including tunneling, for bjranches and
extensions, for yards, sidings and terminals, and for improvements and additions to roadway and track and other property."
The 187,808,719 first consols (|98,219 not yet listed) have
been issued for the following porposes
Purposes of lnoorp'n.$23,322,500 Yards, sidings and ter3,88S.000
Prior Issues
minals
$1,565,465
Cartrusts.N.&W.BR.
718.199 Improvem'ts and ad-

Equipment

dent Pnilip N. Jackson in the Central Electric Co. of N.

amounting to about $400,0()0 par value. It is understood
that the remaining stock will be purchased at the same price.
The Central Electric Co. (V. 72, p. 492) has $75'»,000 of stock,
all common and an authorized ipsae of >!75'>,OO0 of 1st mortgage 5 p. c. gold bonds, of which $600,000 is outstanding.
Tbese bonds are dated July 1, 1900, and are due on July 1,
1940, but may be redeemed after 5 years at 110 and Interest.
Interest is payable Jan. and July at the Fidelity Trust Co.,
Newark, N. J., trustee. Denomination, $500 and $1,000.
The company supplies light in Metuchen. New Brunswick,
Perth Amboy, Rahway, Woodbridge, Rnritan, Carteret,
Bound Brook, Danellen and South Plainfield.— V. 77, p. 824,

3,7i6,26l
14,729
2,10tf,04(J

987,171

ditions

to

roadway

and tracks
Bridges

463,395

Bull^Jings

497,740

530.n4

North Chicago Street RR,— Voting Trust.-See Chicago
Union Traction Co. above.— V. 77, p. 1747, 350.
Norlhern Central Rj.—New Stock.— The shareholders
voted this week to increase the authorized limit of capital
stock from $12,( 00,000 to $20,000,000, the new stock to be
issued from time to time at the discretion of the board, to
pay for improvements and retire maturing bocds. It was
currently reported that at their meeting on Wednesday the
directors would authorize the offering of $4,000,000 of the
stock at $75 per $50 share to present stockholders, but no
such action was taken.
The shareholders also adopted a resolution requesting the
President of the Northern Central to appoint a committee of
stockholders to confer with the Pennsylvania RR, and arrange either for perpetual lease or merger. The "Philadelphia Ledger" says that merger of the Northern Central and
the Cumberland Valley Ry. is also proposed. The shareholders of the Northern Central on Nov. 10 also authorized the
acceptance by the company of the provisions of the Constitution of Pennsylvania.— V. 77, p. 638.
Northern Pacific Rj.— Merger of Subsidiary Lines.— The
Washington Railway & Navigation Co., recently formed,
has taken over by consolidation the Washington
Oregon
Ry., extending from Vancouver to Kalama, Wa'^h., 29 miles.
and the Portland Vancouver and Yakima Ry., Vancouver to
Yacolt, 30 miles.— V. 77, p. 1294. 1223,
PennsylTania RR.- New Securities.— See Northern Central Ry. above and Pittsburgh Virginia
Charleston Ry.
below; also Baltimore & Ohio RR. above and in V, 77, p.
1745, and Pittsburgh Cincinnati Chicago &.St. Louis in V.

&

&

77, p. 1747.

Control of Pittsburgh Coal
'Industrials" below.

Co.— See that company under

Purchase.— The company, on Nov. 2, closed a deal for the
Ijurchase from H. C. Frick of a large amount of real estate
at the "Point" in Pittsburgh, for use in connection with proposed warehouses, etc. The tract is mostly within the area

bounded by Tnird St., Duquesne Way, Water St., and Penn
Ave. The consideration is stated as $2,850,000, payable in
25 years, with interest thereon payable semi-annually.
New Director. -Rndnlph Ellis, President of the Fidelity
Trust Company of Philadelphia, has been elected a director
of the Pennsylvania
Co., to succeed the late William L.

RR

1

Oross.
8 mos.
1903... $12,642,889
V. 77, p. 1747.

—

Net.

$4,402,208

0th. Income.

$1,172,391

Charges.

Bal., Sur.

$3,159,980

$2,414,619

St. Louis & San Francisco RR.— New Director.— At the annual meeting on Nov. 9 Mark T. Cox was succeeded as
director by Comptroller Charles W. Hillard.— V. 77, p. 1537,

1529.

Seaboard Air Line Ry.—S^fa^MS.— President John Skelton
Williams is quoted as follows:
There has been absolutely no change In my relationship to the system. My official position is just what it has always been, with no onrtatlment of its powers or prerogatives. land my close friends still
own more than a majority of the company's stock. No change of policy is

under consideration.

The

so-called floating debt of the Seaboard Air Line system Is enand scarcely amounts to as much as one month's
gross earnings of the system. Besides this the company has In Its
treasury, entirely unincumbered, several million dollars of flrst-oiasa
securities, exolueive of $5,600,000 of its own preferred stoak and $8,500,000 of Its common stock. The company's net surplus for the past
fiscal year amouuts to more than full 4 per cent on its preferred stock,
with a small percentage for the common stock.— V. 77, p. 1295, 824,
tirely lnslt;t)itioant

Sierra Railway, California.— iVeu> Bonds.—The shareholders have authorized an issue of $«60,fi0i) 5 per cent 40 year
bonds to retire a large acuount of the $1,242,000 six ner cent
income bonds. T. S. Bullock was recently elected President
to succeed Prince Poniatowski.— V. 77, p. 512.
Wabash RVi.— Connection with Philadelphia. President
Ramsey Jr., in a recent letter to the Trades League of Philadelphia, responding to their offer of co-operation in case
the Gould system would seek an entrance into Philadelphia,
says: "When the time comes, if we can take advantage of
your offer, we will be glad indeed to do so." V. 77, p. 1295,

—

—

1289.

C.) Railway & Electric Co.— Bonds Sold.
unissued bonds of the $500,000 improvement
loan of the Columbia Railway has been sold and listed in

Washington (D.

—The $100,100

Washington.- V. 76, p. 703.
West Chfcago Street RR. Voting Trust.—See Chicago
Union Traction Co. above.— V. 77, p. 1747, 851.
West End Street Railway, Boston— Wet* Bond*. —The
Massachusetts Railroad Commission has been requested to

—

approve the issue of $700,000 4 per cent 80-year bonds to be
dated Aug. 1, 1902, tor the purpose of refunding $500,000
Metropolitan RR, bonds due Dec. 15, 1903, and $200,000 Middlesex RR, bonds due July 1, 1904.— V. 76, p. 1409.
Western Pacific RR.— Merger.— Deeds have been filed at
Sacramento transferring to this company all the property
and rights of the Stockton & Beckwith Paes Ry., in consideration of $93,500 cash and $6,COO,000 Western Pacific capital
stock.-V. 77, p 252.

INDU8TBIAL. »AS AND MISCELLANEOUS.

—

Work
Co. Operations Resumed.
was resumed on Nov. 11 at all ot the company's properties in
Montana, Gov. Toole having complied with the condition
Amblgamated Copper

Elkins.-V. 77, p. 1534, 1294.
Pere Marquette K 8.— Bonds Offtred.-^, W. Harris & Co., that he call a special session of the Legislature to enact
having sold over $2,000,0f0of the Like Erie & Detroit River legislation providing for the bearing of litigation by unDivi&ion gold 4i^s, dated June 15, 1903, are offering an addi
prejudiced judges.— V. 77, p. 1534, 1295.
tional $500,000 at 101 and interest. Compare V. 77, p. 89.—
American Alkali Vo.—Stockhclders Not Liable.— A jury in
V. 77, p. 1747, 1534.
the United States Circuit Court at Philadelphia on Nov. 7,
Pittsbnrgh Virginia & Charleston Rj.—New Bonds Sold. it is stated, held that Pedro Q. Saland Htnry G. Morris,
The mortgage which the shareholders will authorize on holders of 1,000 shares each of the c»pital 8toi;k, could not be
Dec. 31 will secure $6,000,000 of first mortgage 40-year 4 per compelled to pay the first instalment, $2 50, of the assessment
cent gold bonds, the principal and interest of which will be of $10 a share levied upon the stock in September, 1901.

—

m

THE CHRONICLE.

1876

Charges of colluaion and fraud,
reported, were made, and it was alleged that the company had been grossly mismanaged. Counsel for the company gave notice of a motion for a new trial and say they
wllT carry the case if necessary to the United States Circuit
Court of Appeals. The cases against Salom and Morris are
regarded as tests of the liability of stockholders for the ajs-

(V. 76, p. 1401; V. 77, p. 770.)
It is

geeements levied.— V.

77, p. 770.

American Grass Twine Co.— Denia/.— See International
Harvester Co. below.— V.

77, p. 1747, 1634.

American Maltiof? Co.— Management Re-elected,— At the
annual meeting on Thursday the toUowing board of directors
nominated by the management was elected by a vote of 166,000 against 105,000:
Fanenll D. 8. Bethune, Michael Coleman, Robert M. Galloway,
Charles W. Goodyear, John O Jenkins. Seymour Soott. Charles 8ohngen, Charlea A Stadler, Louie L. Stanton, Albert Ti»g, John J. Treaoy
and Frederick Uhlmann.-V. 77, p. 1535, 1895.

American Tnbe & Stamping

Co.,

Bridgeport, Conn.—

Description of Plant.— The "Iron Age" of Nov. 5 has a full
description of this company's plant.— V. 77, p. 197.

[Vol. Lxxvn.

in Colorado, where the suspension of work has been sufficiently general to threaten a coal famine.— V. 77, p. 771, 898.

Consolidated Lake Superior Co. Time Extended— Commit'
teeEnlargea. The Mcffly Committee has extended the time
to underwrite, subscribe to bonds or deposit stock as required
under the reorganization agreement until and including
Nov. 17. The second payment on stock is postponed, and
will be payable with the last instalment on or before Dec. 1,
1908, at 8 p. M.
Director Edward J. Berwlnd and John T.
Terry of New York, said to be among the largest inaividual
stockholders, have been added to the committee.
The
directors have formally approved the plan, and the indica*
tions, It is said, favor its successful consummation.
V. 77, p.

—

—

1748, 1582.

Consolidated Water Co., VUen.— Second Mortgage.

—An

improvement and extension mortgage has been filed to the
Trust Co. of America, as trustee, to secure $350,000 of 8 per
cent bonds dated July 1, 1903, and due Jan. 1, 1913, but subject to call at option of company at any Interest date after
1904.—V. 77, p. 198.
Congumers' Gas Co., Toronto.— SaZe of Stoek.—The 3.000
shares of stock offered at auction last week sold at prices
179i^ to 306. See V. 77, p, 1748.
Continental Ry. Equipment Co.—Status. F. C. Hollins
says in an advertisement:
The company owes no money, has no obligations, bonded indebtedness, or guaranties, and has a cash balance in the bank, after passing
through a very trying period for corporations, and controls a large
plant in operation niKht and day. The capital stock Is $4.0( 0,000, of
which $3,400,000 Is outstanding. The other (constituent) companies
are practically out of existence by reason of the reorganization.— V.

American Waltham Watcli Co.— Dividends.— A regular ranging from

p. c. has been declared, together
both payable Dec. 1, On July 20 last an
interim dividend of 3 p. c, (see V. 76, p, 1357,) was paid and

aemi-'iDnual dividend of 4

with

2 p. c. extra,

on March

—V.

c, makicg a total of 12 p. c. paid in 1908.
was paid in March and 6 p. c. in September,
c. extra, an aggregate of 10 p. c. fur the year.

16, 4 p.

In 1903, 4 p,
including 3

c.

p.

76, p. 1863, 1357.

Bergner & Engel Brewing Co

,

Pliiladelphia.— Promts.—

The

profits for the fiscal year ending Sept. 80, 1908, were
|821,14S, as against |270. 583 for the preceding year, an increase
of 150,566. President MuUer says:
The dividends were earned but the earnings were appUed to other
purposes, the floating debt having been reduced $240,0U0 during the
gaet year. The prospects for the ensuing year are the brlgheat they
ave been since the war tax came off.

No dividends have been paid on the 8 p. o. cumulative preferred stock (11,650,000) since November 1899, but in the
meantime the floating debt has been reduced from $1,165,000
to 1471,000. There are also outstanding $1,650,000 common
stock (par of shares $100) and $1,600,000 first mortgage gold
6s of 1891, due July 1, 1921, decomination $1,000, interest
payable Jan. 1 and July 1 at the office of Union Trust Co.,
trustee, Philadelphia.— V. 72, p. 828.
Brooklyn Union Gas Co.— Debentures.— It

is

reported,

and

not denied, that the company contemplates reimbursing the
treasury for the capital expenditures of the last two or three
years by the issue to stockholders pro rata, probably at par,
of $3,000,000 to $5,000,000 convertible debentures, due in
five years and convertible into stock after three years.
The
matter has not yet been formally acted on by the directors
and the terms of the issue are subject to modification. V.

—

76, p. 1033.

—

76, p. 1410.

Danville Bessemer Steel Co.— Dissolution.—The directors
have voted in favor of the dissolution of the company and
the distribution of its assets among the stockholders, the
phovel trust having made the shovel business unprofitable.
V. 73, p. 991.
East Chicago Water Co.— iSecetver.— At Indianapolis on
Nov. 9, in the suit of the Illinois Trust & Savings Bank of
Chicago, Judge Anderson of the Federal Court appointed
the Indiana Truet Co. of Indianapolis as receiver for the East
Chicago Water Works Co., the Eist Chicago & Northern Indiana Water Co., the East Chicago Light & Power Co. and
the Lake County Water & Light Co. The receiver was directed to notify the city of East Chicago that in the future it
must pay all water and light rentals as fixed by ordinance.
EvansTllie (Ind.) Gas & Electric Light Co.— Bond«
Earnings. Mason, Lewis & Co. are offering at 101 a block
of the first mortgage 5s of 1908.
Total authorized issue, $1,-

—

350,000; reserved for future extensions, $200,000; present
issue, $1,050,000.
For the calendar year 1903 the net earnings
are reported as $71,707, contrasting with $60,485 in 1901. For
the year ending June 80, 1903, the gross earnings were $381,896; operating expenses (including maintenance, renewals,
legal expenses, insurance and taxes), $155,174; net earnings,
See full particulars in V. 75, p. 188.—V. 77, p. 801.
$76,723.

Carpenter Steel Co., Reading, Pa.— iZeceiuer.— Vice ChanFranchise Tax in New York State. Appeal Must Wait a
Newark, N. J., on November 7, appointed
Fear.— The appeal to the United States Supreme Court from
Robert E. Jennings of Jersey City receiver for the company
the decision of the New York State Court of Appeals suson application of Richard P. Lyon of New York, as holder
taining the Special Franchise Tax Law, cannot, it is stated,
of an overdue promissory note for $10,000. In addition to
in the usual course of events be argued before October, 1904.
the |1,462,1C0 common stock, the company is said to have
V. 77, p. 36.
outstandiDg $920,000 of its new preferred stock, and a floatGottllebBanernsctamidt-Strans Brewing Co.—Earnings.
ing debt of about $275,000. The company was incorporated in
For the 6 months ending Aug. 81 last earnings were Profit
New Jersey with $500,000 capital stock in June, 1889. Large
quantities of projectiles have been made for the Government. from the sale of beer over cost of manufacture and selling
expenses, $326,399; income from other sources, $6,863 total
Bee V. 77, p. 149.
income, $383,162. From this were deducted expenses on
Cenlrul Electric Co. of New Jersey.— See Public Service
ground rents, $938; expenses incurred
closed plants, $6,119
Corporation under "Railroads" above.— V. 72, p. 483.
deficit on
in closing Savannah and Raleigh agencies, $216
Chicago Pneamatic Tool Co.— President Dantley says
tenant properties, $10,597; administrative expenses, including^
The company has paid promptly all Its interest and slsfelng fand proportion of taxes on capital stock, personal tax and accicharges on Its bonded debt. It has declared Its dividends out of dent insurance,
$24,366 interest on underlying bonds, $4,560,
aotnal earnings, after wrltlni; off all expenses, fixed charges, and
allowing liberally for depreciation of plants, etc. It has no floating a total of $48,797, leaving $288,866. Interest on first mortIndebtedness, except current monthly bills for material and are ready gage bonds called for, $84,375
dividend of 1}^ per cent on
to pay promptly when due. The company has over .$1,000,000 In
second mortgage income bonds, $')2,500; sinking fund, $12,cellor titevens at

—

:

;

;

;

:

;

;

quick ascete over and above snppUes. which do not exceed $48,000,
and these were all current liabilities, Inoladlng current bills, accrued
Interest, dividends, etc. Its net earnings for the past nine months are
$513,224. Ira present bnslness and the outlouk for the future Is satisfactory In every way. Its European buplness Is growing faster in proIH>rtlon than the local business. The company is now selling its tools
and machines In every civilized country, and Is no longer dependent
on the American trade for Its business.
As above stated, the net earnings for the past nine months
of 1903 were $513,224; three quarterly dividends at the recent
rate of 1% p. c. on $6,013,600 stock call for $316,714.— V. 77,
p. 771, 695.

50O, leaving

a balance of $136,990 reserved for depreciation,,

bad debts, etc.— V. 77, p. 1328.
Great Western (Beet) Sagar Co.— See report of Colorado
Southern Ry. Co. on page 1870.
International Harvester Co.— Denial.—The "Iron Age"
says
This company positively denies the report that It has parchased the
Minnie Harvester Company's plant or the Walter A. Wood Company'a
plant, which amounts to the same thing, at 8c. Anthony's Park, Minn.
They state that they have not a dollar's worth of Interest In the Mlnnes'ita property, and that the newspaper stories to this effect are

City Water Supply Co,, Ottumwa, la.— S^tofMs.— This entirely false.
company was sold under foreclosure on Sept. 21 to satisfy a
First Dividend.— A
$825,000 second mortgage, and was bid in by W. A. Under- Nov. 10.
tion

is still

New

York, and H. H. Sllnglnff for
mortgage of about $136,000. Litigapending with the city over the franchise, and

wood, 25 Broad St.,
$35 000, subject to a

first

pending a settlement the purchasers will hold the property
for the second mortgage bonds. No new company has as yet
been formed and no plan decided on.
Colorado Fuel & Iron Co.— <9^rtfce o/" C7oaZ ilftncra.- The
executive board of the United Mine Workers of America on
Oct. 9 ordered a strike of the coal miners in Colorado,
"Wyoming, New Mexico and Utah, for an advance in wages,
a reduction of the hours of labor and other concessions. The
strike began on Nov. 9, but assumed serious proportions only

first

dividend of 8 p.

c.

was paid on

Concentration of Offlces-Economies.— The executive ofthe suDsidlary companies will, it is announced,
be hereafter concentrated at the general offices. No. 7
Monroe St., Chicago, instead of being divided among the
A further saving will be
various plants as heretofore.
effected by dispensing with several thousand general agentsand canvassers, who formerly carried on extensive competition for the farmers' trade. Manufacturing costs will be
reduced by giving to each plant the kind of work it is best
fitted to do because of geographical location or other reasons.
In the sales department one general agent will handle all
five lines of machineg in his territory ,and canvassers will be

fices of all

—

:

Nov. U,

:

::

.

:

—

:

THE CHRONICLE.

1903.]

fnmlshed to local agents as before, but in a greatly reduced
number, as the element of competition is practically elimi-

nated— V. 77, p. 1749, 454.
Kalamazoo Valley Electric C«.— Mortgage.— A mortgage
has been made to the American Trust & SavinRs Bank of
Chicago, aa trustee, to secure $100,000 bonds.

See V. 71, p.

185.

1877

1903: On $6,100,000 preferred, 7 p.
5 p. 0.— V. 76, p. 380.

Pittsburgh Coal

c; on

Co.— Railroad

$5,982,200

Deal

common

Postponed.— The

deal by which the Pennsylvania RR. Co. and allied interests
are to oome into control of this company's business, and
guarantee an issue of $82,000,000 of new coal bonds, has
t)een postponed pending the return of more favorable money

market conditions.—V. 77, p. 1760, 1297.
La Cro'^se (Wis.) ttas & Electric Co.— Amalgajnatioyi.—
daily presa that negotiations
It was recftitly reported in the
San Francisco ttas & Electric Co.— Bonds.— The $10,000,had been closed for the absorption of this company by the 000 bonds authorized Oot. 22 will mature, it is stated, thirty
Central Electric Co., a cooperative concern doing business in years from Nov. 1, 1903; their 4i>i per cent interest will be
La Crosse. We are now offijially informed ttiat the stock paid semi-annually on May 1 and Nov. 1. The "San Franthat a competing company has cisco News Bureau" says
sold was minority stock
been absorbed, but that the management and control of the
It la understood that the $8,000,000 bonds now to be Issued hare
been underwritten by I. W. Hellman, President of the Nevada NaGas & Electric Co. remains as before.— V. 74, p. 155.
tional Bank, at t^9S; of these, $^,OOU,000 bonds go to Claaa Spreokels
Locomotire & Machine Co., Montreal.— New Stock.— The at $96, and the rfst >vre to be taken at $96 bv a syndicate formed by
Dominion Government has authorized the increase of the >lr. Hellman The $!<,000. 000 bonds will thus net the company $7,;

capital stock from 11,000,000 to $3,000,000, to provide for ex
tensions, additions, etc., as required. V. 77 p, 513.

—

Miller Steuinship Co., Buffalo, N. Y.— Mortgage.— A first
mortf^age has been tiled to John J. McWiUiams, Peter P.
Miller and Oliver G. Donaldson of Baffalo, as trustees, to secure $120,000 of 5 p. c. gold bonds. These bonds will mature
$8,000 yearly on July 1 until 1924, but will be subject to call,
any or all of them, at 104 and interest, on July 1, in 1908,
1913 or 1918. They cover the steamer P. P. Miller. Capital
stock $120,000 in $100 shares. Mr. McWilliams is President.
Monongabela Water Co.— New Stock The shareholders
will meet at the office. No. 1,113 Carson St., Pittsburgh, on
Jan. 6, 1904, to vote upon an increase of the capital stock from
$2,800,000 to $2,600,000, to pay for certain water-main exten-

—

and permanent improvements. Martin Prenter is Secletary.- V. 75, p. 983.
National Sogar ReflaiDg Co. Reduction of Par Value.—
This company, controlled by the "National Sugar Refining
Co. of New Jersey" (stock $20,000,000) has reduced its capital
stock from ten thousand shares of the par value of $100 each
to 500 shares of the par value of $100 each, by calling in all
the outstanding sharps and issuing in lieu thereof a decreased
number of shares. Nathaniel S. Tooker is President.— V. 72,
sions

p. 483.

Niagara
Earnings.

Ligrht,

Heat & Power

Tonawanda, N. T.—
March 31,

Co.,

— The gross earnings for the year ending

1908, are reported as $40,690, against $33,569 in 1901-02; net
earnings $13,152, against $11,578; interest on 5 p. c, bonds
$7,500; balance, surplus, $5,652. Compare V. 74, p. 1199; V.
77, p. 613.

Olympia Cotton Mills. Colnmbia. 8. C—Reorganization,
—A press despatch from Richmond, Va., on Nov. said:
11,

In the United States Oirooit Court to-day Jadjre Stmonton dismissed
the receivers who were appointed for the company yesterday on application of Leonard Phlnlzy. This leaves the mills free, it Is stated,
to oarry oat ihelr plan.

The shareholders were to meet to-day to authorize an issue
of $1,750,000 first mortgage bonds for the funding of existing
indebtedness and other purposes. This is the plan above
mentioned.

Compare V.

74, p. 887.

Panama Canal Co.— Rtvolution,— See
1840.— V.

editorial

on page

000 of authorized capital stock, to act as selling agency for
the United Box Board
Paper Co. and independent concerns. The $200,000 stock will be apportioned among the
companies according to the output of each. The independent
comoanies, it is said, agree to acknowledge the validity of
the McEwan news board patent. We are officially informed
that 21 companies are to be represented by the selling
agency, but no list of the same is obtainable, and it does not
appear how far the agreement has actually been signed, The
following list includes most of the companies and probably

&

some outsiders
United Box Board A Paper Co., OoUn-Oardner Paper Co., Middletoim. Ohio; Jefferson Board Mills Co., Oartha)?e, N. Y.; Stony Brook
Box Board Co., Ohamam, N. Y Pleroont Paper Co.,PierpDnt, N. Y.;
C!hloa(?o Onated Board Co., Chloago; Tonawamta Board & Paper Co.,
Tonawanda, N. Y.; Unoas Paper Co.. Norwich, Conn.; A. MoEwan <fe
Co., Whlppany. N. J
Haverhill Box Board Co.. Haverhill, Mass
Philadelphia Paper Manafactarlne Co.. Philadelphia; Western Straw
Board Co., St. Mary's. Ohio, and Gas City, Ind ; Fort Orange Paper
Oo., CasUeton. N. Y.; Beverldge Paper Co., Indianapolis; Xenla Board
& Paper Co., Xenla, Ohio, and the Lafayette Box Board Co.
The " Paper Trade Journal" of this city published on Oct.
39 the names of fourteen concerns whose signatures had been
obtained. The Beveridge Paper Co., Indianapolis, Ind., and
the Colin- Gardner Paper Co., Middletown, Ind., are said not
to have signed as yet,
The officers of tbe Paper Products Co. are
O C. Barber, the new President of the United Box Board & Paper
Co.; A.a«8U8tn8 H. Ivins, and James A. Roberts, Chairman of the board
ofTheOnited Box Board Co.. both of New York; Loals Newonn of
Bntfilo, Stephen Fleming of Port Wayne, Robert B. MoE wan of Whip
8any, N. J Martin WllilamB of Nyaok and Calvin C. Woolworth of
astleton, N. Y.
;

;

;

;

Pittsburgh Brewicg Co.— Earnt7igr«.—The earnings for the
years ended Ojt. 25 compare a^ follows:
ri»eal

ieOl-2
1900-1

Gross
earnings,
»I-i"-'''*^^
6.78fl.53t<

6.0:^8,692

Number

—

Ne*-

—

Interest State tax
Balanre.
DivUenit.
on bonds. & deprec. Pref'd. Common, surplus.
$S79,H0 $500,000 $127,003 $298,110 $^(24,460
3.123,023
379,141
600,^00
4<7 00t
23-490
578 .^8n
,

earnings,

$8,428.7.13

1.617.678

Shreveport (La.) Home Telephone Co.— The company
made a mortgage to the Security Trust Co. of Toledo as
trustee to secure au issue of 6 p. c. 20-year bonds, of which
$200,000 have been oertifidd. The exchange is said to be
has

serving 1,500 subscribers.

Standard Eope & Twine Co.— See page

1879.

Sasqaehanna Iran & Steel Co.— Receivership Case.—
Judge Landis at Lancaster on Nov. 7 gave the company
until Jan. 1, 1904, to establish the fact that its finances are
on a reasonably secure basis. He says, "if on the contrary
they are not able to do this, we will appoint some disinterested person as receiver. At this time, therefore, no final
decree will be entered."— V. 77, p. 404, 302.
United States Steel Corporation. Reduction in Prices of
Steel Billets and Bars.— Oa Wednesday, at the conclnsion of
a conference of the makers of billets, bars, plate steel,
structural steel and rails, Willis L, King, Vice-President of
the Jones & Langhlin Steel Co. of Pittsburgh, made the following announcement of a decrease in the price of steel
billets and bars
During the last week the principal manufacturers of steel and steel
products have been In consultation oonoernlng trade condltiona.
While It t^ a fact that there has been a decrease In volume of business
during the last few months, yet it is also true that a substantial tonnege is being booked at the present time, and the eeneral opinion
seems to be that the outlook is quite promlslns; and improving. It
was the unanimous opinion that me price of billets and bars was too
high and somewhat out of parity. Therefore, the price of the former
has been reduced to $23 per ton, PlttabarKb, and of the latter to $L 30
base per 100 pounds, Pittsburgh. Prices on all other steel commodities, however, remain unchanged.
The action of the Steel Plate Association respecting prices
and policy, it is understood, will be presented for ratification
to the following
American Iron & Steel Manufacturing Co., Bethlehem Steel Oo.,
Cambria Steel Co.. Carbon Steel Co., Central Iron & Steel Co., Colo-

&

77, p. 1586, 826.

Paper Products Co. of New Yori.— Selling Agency,— This
company was incorporated at Albany on Nov. 6 with $200,-

>^!V~
19023

600,000, Ttie remalnlnif $2,000,000 will be retained to meet the underlying bonds of the PaclUo Oas Improvement Oo. and the EllBon
Lieht & Power Uo.
The slDklng fund provisions are that on Nov. 1, 19Q6, and each sue
oeeiilng year. $100,000 bonds between No. 1 and No. 4,000 shall be
drawn and redeemed at ?i per cent premium and attorned Interest. The
bonds from 1 to 3.000 are those whloh are to be offered to the public,
from 3,000 to 8.000 being taken by Olaus Spreokels. Compare V. 77,
p. 254, 9a.— V. 77, p. 1536.

379,140

240,649

427.006

838.490

332.393

Of barrels of beer sold: In 1902 08, 1,040,792; in
1901-02, 1,021,708; in 1901, 930,809.
Dividends paid in 1902-

Iron Co . Crucible Steel Co. of Amerio*. Diamond State
rado Fuel
Lackawanna
Steel Co., Inland Steel Co., Jones & Langhlin Steel Co
Steel Co., Lorain Steel Co.. Lahens Iron & Steel Co.. Maryland Steel
8 reel Co., Ltd.. Passaic Steel Co., Pennsylvania Steel Co.,
Co., Otis
Pittsburgh Forge & Iron Co , Readini; Iron Co., Rapabllc Iron & Steel
Co., A. & P. Roberts Co., Shelby Steel Tube Co., Standard Steel Works,
Tenne»>see Coal, Iron & RR. Co., Tidewater Steel Oo., Olasgow
Iron Co. and Worth Bros. Co.
United States Steel Corporation subsidiaries, viz. : American Steel
6 Wire Co . \morican Steel Hoop Co , Carnegie Steel Co., National
Steel Co., National Tube Co., Illinois Steel Co.
,

The "Iron Age" states that in hoops and bands there has
been a reduction by leading mills of $5 to $6 per net ton, and
in tin plate a reduction from $3 80 per box, at mill, to $3 60,
Retrenchment. An official of the company is quoted as

—

sa^'ing :
The plan of economy and retrenchment now rapidly being put into
effitct has resulted up to date thus
About 25 per cent of the plants have been olosed down, effecting a
reduction in output of finished products of 15 per cent. The pig-lron
production has been reduced at least 40 per cent, but as the corporation sells practically no plg-lron, this has no effect on the general
market. The number of men employed in the operating department
has been reduced about 10 per cent, and the forces in the executive
department about 4 p. c. At the ore mines and in the ore fleet reductions aggregate ^0 per cent, but this 1b due to the fact that the end
of the season was at hand when the plan was put into effect. The
transportation department has been cut about 5 per cent. Other
changes are to be made here.
The retrenchments to be aooompllBhed through reductions In wages
cannot count for much before Jan. 1. They will total at least 20 per
cent. In the salaries the plan oontemplatesa savlngof approximately
30 per cent through discharges and reductions. In freight rates we
hone to save at least 10 per cent, whloh will net us $5,000,000 a year.
When the work now under way is completed, it will be tantamount to
a reorganization. High salaried but not at>8olutely essODtlal places
will ail have been abolished. The wage schedule now ridiculously oat
of line with present prices will be passed down. Many departments
will be combined.
It is in the operation of plants, however, that the greatest economies will be effected. Plants not properly situated when closed this
time will be dismantled, or removed before being re-opened. The concentration of plants and offices at or near Pittsburgh will be the most
Important of all the results brought about iby the present depression.

The plan includes the merging of the American Tin Plate
Co. with the American Sheet Steel Co. and the moving of
the headquarters of most of the subsidiary companies to
Pittsburgh.—V.

77, p. 1750, 1636.

gW" IiiT««tinent Neivs

Concluded om Pac« 1879.

J

THE CHRONICLE.

878

^cprorts

[Vol. Lxxvii.

mxA ^ocmncMts.

THE AMERICAN COTTON

COMPANY.

OIL

ANNUAL REPORT FOR THE FISCAL YEAR ENDING AUGUST
Executive Offices, 27 Beaver Street,
New York, November 10, 1903.
To the Stockholders of the Anerican Cotton Oil Company:
The Directors herewith submit their Report and Statement of Accounts for the fiscal year ending August 3',, 1903,
being the Fourteenth Annual Report of the Company.

SHARE CAPITAL.
The amount

of the Capital Stock, issued and outstanding,
is unchanged, viz.: Common Stock, $30,237,100; Preferred
Stock, $10,198,600.

DEBENTURE BONDS.
total amount of Gold Debenture Bonds outstanding is
18,000,000. These Bonds mature on November 1, 1915, and
bear interest at the rate of 4)^ per cent per annum, payable

The

quarterly.

ALL PROPERTIES FREE FROM LIEN.
All the properties of the Organization are absolutely free

from mortgage or other

lien.

•

PROFIT AND LOSS.
The Profit for the year amounted
Dedaot Debenture Bond Interest

$1,665,081 32
135,000 00

to

Net profltB

$1,530,08132

Deduct—
Dividends on Preferred Stock,

aunum

Dividend on Common
cember 1. 1903
Junel, 1904

This account has been charged with the sum of §373,146 69
for additions to the properties, representing Real Estate,
Cotton Ginneries, Fertilizer Factory, Seed Houses and Scales,
Warehouses, Automatic Sprinklers, and increased capacity
of Mills. Refineries, Cottolene and Soap Plants.
The account has been credited with sa'es of Real Estate,
Buildings, old Machinery, etc., amounting to $47,747 93.
The net result is an increase to Permanent Investment

Account of $324,398

per
$611,916 00
Stock, payable De2% 404,742 00
2% 404,742 00

REPAIRS AND MAINTENANCE oF PROPERTIES.
The properties have been maintained during the past year
by the expenditure of $301,433 38, which has been charged
to Operating Expenses for the same period.
INSURANCE.
All the properties, the stock of raw materials and of finished products, are fully insured against fire and marine
losses and the hazard of steam boiler explosion,
The policy
of insuring against loss or damage from cyclone or windstorm has been continued in regard to properties within the
well-defined cyclone belts of the Southern States.

PURCHASING.
The Purchasing Department continues

to increase its field
of usefulness in the direction of reduction of costs, and the
establishment of uniformity in supplies used in the various
plants.

$108,681 32

CAPITAL, LIABILITIES

ducting Current Liabilities.

AND ASSETS AUGUST

Capital—
Preferred Stock

Total Share Capital

Debenture Bonds

31,

1903.

Assets—
$20,237,100 00
10,198,600 00

Real Estate, Buildings, Machhiery, etc.,
based on the valuation Aug. 51, 1892,
with subsequent additions

$30,435,700 oo
3,000,000 00

CashinBanks
and Accounts Receivable
Marketable Products, Raw Materials
and Supplies on hand, available in

Bills

$33,435,700 00

Current Liabilities—
Pay able...
$1,050,000 00
Commercial Acoounts
597,332 05
Interest accrued upon Debenture Bonds
onemonth to Aii«:ust31
11,280 00
Preferred Stock Seml-Annual Dividend
No. 24, pavable Deo 1,1903
305,958 00
Com. Stock Div., payable Dec. 1, 1903..
404,742 00
do
do
404,742 00
do
June 1, 1904..

the business

Bills

GENERAL PROFIT AND LOSS ACCOUNT OF ALL THE
PROPERTIES AUGUST 31, 1903.
Or.

Balance of General Profit and Loss Account, August 31,
19C2, as per Thirteenih Annual Report
$6,916,835 73
Difference resulting from sale of inactive properties
7,410 64

7,199,888 79

Balance, representing good-will, contracts, leases, trade-marks, patents,
processes, brands and kindred assets
of an established business

$36,209,724 05

Total

Total.

$6,909,425 09

Manufacturing and Commercial business of this Company and of
the Corporations in which It Is interestefl,
for the year ending August 31, 1903,
after charging off all expenses of Manufacturing and Operation. Repairs of
Buildings and Machinery, Bad and
Doubtful Debts, Expenses of Adminis$1,665,081 32

tration, etc

Deduct:
Interest on Debent. Bonds. .$135,000 00
Semi Aiinual Dividends on
Preferrf d Stock-

305,958 00
303,958 00

404,742 00
404,742 00
1,556,400 00

Balance to Credit

Balance of General Profit and Loss Account Aug. 31, 1903

108,681 32
$7,018,106 41

The Board of Directors, at the regular monthly meeting
held November 5, 1903, after declaring the Twenty fourth
consecutive Semi- Annual Dividend of 3 per cent upon the
Preferred Stock, payable Decenaber 1, 1903, aulhorized the
distribution out of the remaining net earnings of the fiscal
year ending August 31, 1903, of a dividend of $609,484 to the
holders of the Common Stock, being 4 percent, payable 2 per
cent on December 1, 1903, to holders of the Common
Stock of record at the closing of the Common Stock trans-

$19,632,960 65

16,576,768 40

$36,209,724 05

fer books on November 12, 1903, and 2 per cent on June 1,
1904, to holders of the Common Stock of record at the
closing of the
Stock transfer books on May 16, 1904.
This is the sixth consecutive year in which dividends have

Common

been declared upon the

Common

6tock.
the properties has received
close attention and liberal expenditure. New machinery
and modern appliances have been supplied in order to meet
competition by reducing the manufacturing cost and improving the quality of the products.
Since the valuation of the properties made in 1893, $3,878,330 have been expended in Repairs and charged to Operating
Expenses and $2,865,590 have been put into productive permanent improvements and added to the assets. This has
been accomplished without any increase in the Capital
Stock.
The protection of this Company's property by insurance is
thorough, and the practical working of the system adopted
continues to be most satisfactory. The losses during the
past year have been below the average, and in every instance
have been covered by insurance.
It is gratifying to state that the strained financial conditions which have prevailed during the past year have not
affected your Company.
The Cotton Oil business is yearly. The raw material (cotton

The physical cocdition

Profits of the

$12,433,121 86
$1,280,492 99
2,348,099 06
3,571,246 74

Quick Assets

$2,774,024 05

Paid Junel, 1903 .. 3%
Payable Dec 1, 1903.3%
Dividend on c:om. StockPayable Dec, 1, 1903.2%
June 1, 1904
2%

31,

was $4,425,814 74, of which $1,880,493 99 w^s Cash in
Banks and $3,145,331 75 was Bills and Accounts Receivable,
Marketable Products, Raw Materials and Supplies, after de1903,

1,421,400 00

Common Stock

76.

WORKING CAPITAL.
The Net Working Capital of the Company on August

6%

Balance carried to General Profit and Loss Account

1903.

PERMANENT INVESTMENT ACCOUNT.

)

)'

31,

of

seed) to meetour manufacturing requirements and to provide
for our foreign and domestic bus'ness must be secured and
paid for in cash within a period of five months.

The temporary indebtedness incurred by the purchase of
raw material during five months is gradually liquidated
by the sale of products before the end of the year, at which
time the Company is virtually free from debt. It is important to note that there is no time during the year when
the Cash in Banks and quick salable assets do not exceed
the sum of existing Debenture Bonds and all current liabilthe

ities.

—
Nov.

THE CHRONICLE.

14. 1903.)

The business of the year covered by this report, although
satisfactory, hasuot been conspicuously favorable or easy to
control. Competition for cotton seed during the greater portion of the year was persistent and extreme in character,
buyers being governed by the fetich that however high the
price paid for seed, they could recoup themselves, with a
The seed, in many secprofit by the sale of the products.
tions, proved to be of poor quality, producing oil of inferior
grade and less than normal quantity to the ton.
Owing to the high prices of cotton oil as compared to
other oils and food products, the foreign markets failed to
consume the average quantity. The deficiency, however,
was more than offset by an increase in home consumption,
and the season closed with a market bare of oil for immediate demands.
It is of vital importance to all manufacturing countries
that markets shall be found for their surplus products. It is
a singular fact that while all other commercial countries
are making strenuous efforts, through subsidies and bounties,
to obtain possession of new markets for then* products, the
United States remains lukewarm and disinclined to accord
any substantial encouragement to conserve and develop
trade, even with countries having the advantage of the
"shorter haul."

Notwithstanding the business of the Company with
neighboring countries continues to increase, and has great
possibilities.

The Percentage of Loss from Bad Debts for the year does
not exceed the average of the past thirteen years, viz., less
than one-fifth of one per cent. This is a striking confirmation of the soundness of the business.
Yonr Executive is continually reminded that many of the
Stockholders of The American Cotton Oil Company are under an impression that its business is confined to crushing,
extracting and refining Oil from Cotton Seed. This is a fallacy.
We have valuable and profitable assets in such great
departments as those conducted under the titles of The
N. K. Fairbank Company of Chicago, St. Louis, New York,
New Orleans and Montreal; The W. J. Wilcox Lard and
Refining Company of New Jersey; The Union Oil Company
of Providence; The New Orleans Acid and Fertilizer Company; as well as Brands, Trade-marks and Good-will, worth

mauy

millions of dollars.
to the outlook for the present year, our reports so far
indicate a Cotton Crop about equal to that of last year. Arrangements have been made and are being put in force for
the continued development of the Company's business, and
a favorable outcome from the operations of the year is confidently looked for.
In all changes made in the personnel of the Organization, it is the custom to fill vacancies by promotion from the
ranks rather than to seek new men from the outside. This
lolicy secures to the Company the advantage of technical
knowledge and training acquired in its service, and gives
assurance to our staff that sKill, energy and business acumen
will always be recognizrd and rewarded.
The acknowledgments of the Board are due to all the
officers and employees for the loyal and efficient services
which have contributed to the favorable outcome of the
year's business.
For the Board of Directors,

As

GEORGE

Standard Bope

A.

MORRISON, Chairman.

& Twine Co.— Mf^ettngr Again

—The annual meeting, at

Adjourned.

whici it was exoected a plan for
raising additional working capital would be considered, has
again been adjourned for want of a quorum until Jan. 7.
V. 77,

p. 774, e94.

1879

^Ixc (ivommjcrcial ^imjcs*

COMMERCIAL EPITOMB,
Friday Nioht. Nov. 18, 1908.
Conservatism has been the key-note to business operations
In practically all lines of merchandise.
Dealers and j obbers,
making purchases, have quite generally restricted their
in
orders to such supplies as they have needed to cover their
current wants only. Manufacturers in some lines have
shown more of a disposition to push sales, as they have
caught up to the contract orders they have had on their
books, and in order to avoid accumulating stocks have shown
a disposition to make extra inducrments to buyers in the

An active speculation
of slight conoeseione in prices.
has continued to be experienced in cotton, with the tendency
of prices still upward. Owing to the present high cost of
cotton, mills are being force i, they claim, to reduce the scale
Congress, which is now in extra session to legisof wages.
late on the Cuban reciprocity treaty, is, accoriling to latest
reports, expected to take speedy aud affirmative action.
Lard on the spot has received a moderate amount of atten*
tion from both exporters and refiners, but the business
transacted has been on a slightly lower basis of values. The
close was firmer at;7'45c. for prime Western and 6^^@7c. for
prime City. Refined lard baa had a moderate sale for export
at a shade lower prices, closiog firmer at 7"65c. for n-fiued
for the Continent. Speculation in lard for future delivery
has been moderately active. Prices have been easier, in
sympathy with a decline in corn and selling by packers.
To-day the market was firmer on shorts covering.
way

DAILY OLOBINQ FBIOBB OV LABD VDTUBBB DX OHIOAOO.
Sat.

Januarvdel'y

Hon

6-80

6 87»«
6 85

Tves.

6 75

Wed.
6 67»«

TAwrt.
6-67i«
6-62>3

tri.

6-82i«
6-75

677ifl
6-72»«
May ael'v
685
Pork has had a limited jobbing sale in the local market,
with prices holding steady at $13 Oo@l3 75 for mess, $13 25@
15 50 for short clear and |l8 50 for family. Cut meats have
been quiet and unchanged, closing at 5?^@6c. for pickled
shoulders, 10%@\l}4(i. for pickled hams and 9>^@10>ic. for

pickled bellies, 14@10 lbs. average. Beef has held steady at
prices; business has been quiet, closing at $8 75@
9 00 for mees, $9 50@10 25 for packet, |l0 00® 10 50 for family
and $16 00@17 60 for extra India mess in tcs. Tallow has
been quiet at 4^c. Stearines have declined, closing at 8c,
for lard stearine and 63^c. for oleo stearine. Cotton-seed oil
has been fairly active; the close was steady at 33@33J^c, for
prime yellow. Butter has beea in lair demand and firm for
choice grades, closing at 16@22^c. for creamery. Cheese
has advanced slightly for best giades, closing at 9@ll%c. for
State factory, full cream. Fresh eggs have advanced, closing firm at 293^@30o. for best Western.
Brazil grades of coffee have been unsettled. Jobbers and
roasters generally have complained of a dall distributing
business, and consequently have been slow buyers. Speculative support, however, has continued to be given to the
market, and prices have been fairly well maintained. The
close was quiet at 6i^c. for flio No 7.
West India growths
have had a moderate sale at steady prices, closing at 83^@
East India growths have held steady.
8J^c. for good Cucuta.
Speculation in the market for contracts has been fairly
active. There has been considerable profit taking sales, induced by the dull trade reports, but offerings have been absorbed at about steady basis of prices. The close was steady.
Following are the closing asked prices:

unchanged

United Boxboard & Paper Co.—Selling Agency.— Sse Kov.-«.
5*50fl. Feb..^.
S-768. Julv
6 15o.
Paper Prr ducts Co. above,
5 S'io. Aug
Deo...>.
^ 5ft5o. Maroh
6-20o.
5'65o. MaT.....
6-05e. Hopi.. ...^.^ ..... 6-25o.
Mr. Barber, President.— Oa Oct. 30 O. C. Barber, Presi- Jan
dent of the Diamond Match Co., was elected President to
Raw sugars have dragged, refiners being indifferent sellBocceed James E Roberts, who was then appointed Chair- ers. There have been fair offerings, principally of Javas.
man of the board of directors, Wm. M. Graves, Super- The close was easier at S%o. for centrifugals, 96 deg. test, and
tendent of the Diamond Match Co., John K. Robertson and
Refined sugar has been
3J^c. for muscovado, 89-deg. test.
E. R. Stettinius have been elected to the board to succeed quiet but steady. Teas have been in good demand and firm.
Messrs. T. E Ellsworth, Richard Raddell and Adam Reid.
Kentucky tobacco has been firm. New bnsint-ss has been
What action has been or will be taken on the proposition to quiet, but there have been fairly full export shipments on
sell $3,000,000 of treasury or^ferred stock to President Barold purchases. Only a small volume of business has been
I

1

Is not made public— V 77, p. 827, 465.
White Moantain Paper Co.— Authorized. At Concord,
the Uiiited Srates Court on Nov. 9, Judge Edgar Aldrich

ber

—

in
is-

sued an order authorizing the receivers to issue certificates
to the amount of $70,000 to complete payments for the Kennett mill and lumber at North Conway, See V. 77, p. 1229.
York (Fa.) Silk jHaanf .ctarin^ Co.— Stock Increased.—
The company has carried out tne plan for increasing its authorized issue of capital stock to $5,000,000, of vrbich one-half
7 per cent cumulative preferred. Compare V. 78, p. 1299.

is

—

&

E. Clarence Jones
Cj. of this city have compiled a
wall-chart, 17x27 in,, snowing in colors the average flactuatlona of twenty leading railroad stocks, with the changes
in exports of merchandise and gold, in size of grain and
cotton crops, and in interest rates for prime paper and collateral loans, for each year from 1870 to date.
Farson, Leach
Co. are offering $625,000 Cook County,
Details and financial statement appear in the
111., gold 48.

—

&

advertisement on page

z.

|

I

transacted in seed-leaf tobacco, the trading being limited to a
few small sales of 1902 crop Wisconsin. The tone of the
market has held steady. Sumatra tooacco has been in better
demand and firm. Havana tobacco fairly active at full values.
Offerings of Straits tin for forward delivery have been
fairly free, and with a slow trade demand, prices have
declined. The close was steadier at 25@25'12J^c. Ingot
copper has been dull, and owing to the resumption of work
in the Montana mines prices have weakened, closing at
Pig lead has
13-50c. for Lake and 13 25c. for elect rolytio.
been quiet but steady at 440@4 50c. Spelter has declined,
closing at 5"623^@5*75c. Pig iron has been in moderate
demand and steadier, closing at $i5@l6 for No. 1 Northern
and $14@14'25 for No. 1 Southern.
Rsfined petroleum has been unchanged, closing at 9 '30c. in
Naphtha has been
bbls., 12c. in cases and 6-40c. in bulk.
unchanged at 12 40c. Credit balances have b^en steady,
closing at $1 77. Spirits turpentine has advanced slightly,
closing at 60@60i^c. Rosins qu'et, dosing easier at $2 70 for
common and good strained. Wool h>i8 had a moderate sale
at fnll prices. Hops in moderate demand and steady.

THE CHRONICLE.

1880

COTTON.
Friday Nianx, November

18, 1903,

The Movement of the Crop

as indioated by our telegrams
from the South to-night, i"* given below. For the week ending
this evening the total receipts have reached 449,297 bales,
against 413 566 bales last week and 398,953 bales the previous
week, m'ikiug the total rf«oelpt8 sinoe the 1st of Sept., 1903,
2,841,444 balos, against 3,917.110 bales for the same period of
1903, showing a decrease since Sept. l, 1903 of 79,166 bales.
Receipts

at—

Mon.

Sat.

Ttie*.

I

vred.

I

\

Thurs,

Total.

Fri.

70
67

9S
25

26

The following shows the week's

t

Nov. 13

total receipts, the total since
last year.

and the stocks to-night, compared with
1902.

1903.
veek.

Since Sep.l This
week.
1, 1903.

I

Stock.

Since Sep.
1, 1902.

1903.

1902.

I

I

926,573
26,355
783.923
80,779
34.678
549,745
46,606
123,636
16
191,645
168
172,716
7,443

206,477

22i,142

259.933
38,962

238,883
26,884

129012
20,270
12,501

145,444
8,549
15,921

25,284

17,106

19,360

27,758

2,561
8,791

84.295

68.239

24 000

4,684
6,792

6,118
2,732

27.0
4,971
6,047

449,^97 2 841, *44 34l,448'2,9l7,110l

807,944'

853,314

975,838 99.371
678
19,745
692.208 111,373
97,979
9 758
31,463 11,081
669.568 64.734
48,293
3,368
103,556
5,857

Galveston... 160 6c4:
Sab. P.,<bo.
2.832|
New Orleans I24.76li
15,014
Mobile
4.136
P'saoola, &0.

Savannah..
Br'wiok, Ao
Charleston..
P. Royal, Ac.

Wilmington.
Wash'n, &o.
Norfolk

74,938
12,487
8,620

33

638

19,010

202.905
222
189,482

9,171
19
20.219

1,968
1,841
1,803
2,114
1.826

398
403

36
25,518

N'port N., Ac
New York..

3t9

Boston

282
578
119

Baltimore.
Phlladel,&c.
Totals

3,304

381
1,455

370

In order that a comparison may be made with other years,
give tielow the totals at leading ports for six seasons.

we

Beceiptg

at—

Oalves'n, &o.

New

Orleans
Mobile

Savannah

.

.

Chas'ton, Ac.

WUm'ton, Ac
Norfolk
N. News, Ac.
All others..
Tot. this

wk.

19dl.

1902.

1903,

1900,

1899.

17,602

99.932
111,373
9.753
64.734
5,857
9.190
30,219
398
19 992

8^61.2
94,221
7,662
65,705
15,458
12,302
18,614
1,486
35,044

449.'/97

341,4tx

330,00«

107.147

68,0 S7
6,C34
43,921
14,348
10,813
19,843

278 57^

369

1898.

96 777

106,4<0
78,597
4,594
29,611
9,300
8,267
12,932
4,827
24,034

163,496
124,761
15.014
74,938
8,563
19.046
26,518

104698
17,2.'^

4

59,70^
19,515
18.060
40.863
2,642
46,764

683
16.528
270,''34

.

from—

Great
Brtt'n.

UalTeston

—

Sab. Pass, &c
New Orleans.

Mobile
Pensacola
Sarannah-,..
Branswlck

A'or. 13. 1»03.

From Sep

BxvTte<i to-

8U.348

C'ontl-

Franet
JII.OIO

7otal

Great

nenU

Week.

Britain.

29 6*6 127,')e4
24,206

87,088

7,fc&l

8600
21,768

6.759

16,791

ei.XSS
7.861
8,600
44,308

1, 1903, '., Nov.
Bxporf«4 to—
.

Franet

2H5.084 13d.042

Phila4]elpkla.

Total

10O1?. ...

nent.

600

12,678

29,9 6

70944 82.264

208,845

3il5,3

17,218
18,881

16,237

824,960
86,7'

8

18.84«

21,116
27,181

27.181

250

260
2,772

146,986
48.151

6,860

200

39.894

4,981

129,381

2773
127

2,877

POO

600

26. -09 I0t>3«'/ 28^,1»<7

851 96d

10 i.3»l5

l-.Mfl.'J

714

714

"1,

'5 19i.l0«

632,211
567.1«0

80.646

248.856
49 0M8
41 725

14.746
960

Low Middling

0*14 ofl
0-38 off
..... 0-72 off
*ood Ordinary.... ........ l-OO oS

«rlot

Low Middling
Itrlot aood Ordinary

4,180
ae-< 562'

776.914 l,Hv7.4«2

Hal.lMI 219 218

»i9,6n9 l.t»7o.778

Low

Bdd. Tinged... 0-84 off
0-60 off
Strict Low Mid. Stained... 1-06 off
1-60 ofl
Low Middling Stained
Strlot

MlddUng Stained

Oo tbla basil the offioia) orloes for a few of the grades for
the past week- Nov. 7 to Nov. 13 —would be as follows.
UPLANDS.

Sat.

Good Ordinary.

iTIon Taes; Vfei. Til.

110-20 10-60
10-77 10-77 1"'77 10-77 10-82 11 12
1116 11 16 11 15 n-15 1120 1150
1159 11-59 li 59 1159 1164 1194
12-11 12-11 12-11 li-ll 1216 12 46

Middling

Good Middling.
Middling Fair..

GOLF.

Sat.

Mon Taea

1140 1140

1140 1145

11-40

11-75

11-84 li-84 li-f<4 11-84 11 89 12 19
12-36 12 36 12-8b 12-36 12-41 1871

STAINED.

Sat.

BEon Tae«

Low Middling
Middling

9-65

1065

9-66
10-65

Low MlddUng Tinged..
Good Middling Tinged

Strict

Xfed.

Th. Frt.

965

9-70 10-00

9 65

106i 10-65 10-70 1100
10-81 10-81 1081 1081 1086 11-16
11-15 11-15 II 16 1115 11 20 11-50

middling upland at New York on
eaob of the past 82 years have been as follows.

,juoiationa tor
for

1903. ...011-50
8-35
1902
715-,6
1901

9%

1900
1899
1898
1897
1896.

5«8
67e

8

1896. ...0.

8<>8

1894
1898
1892

59i«
8»ie

.

OLoeiio.

Saturday ..
Monday....
raesday
W^dnefldav
Thursday..
.

1887.... O lO'ta

1886
fe3,a
eas
1886
9%
1884
lOH
1891..... 8^
1888
I07ie
lOSg
1890
.. 9S8
1883
10>4
11^
1889
1881
10
lOiBie
1888
1880
MARKET AND SALES.

SPOT MASKBT

Total

'WeA Th. Frl.

10-40 10- «0 10 40 10 40 10-45 10-75
1102 1102 11*02 11-02 1107 1137

Middling..
Middling.
....
Good Middling.
Middling Fair..

F^day

FrI.

1015 10-15 10 15 1018

Low Middling..

.

17,064
4.207

demand

uplands.
The rates on and off middling, as established Nov. 80, 1903,
)y Che Bevlslon Committee, at whioh grades other than
aiddling may be delivered on oontraot, are as follows,
fair.. ._.............. ^^0. 1*30 on Good UidiUing Tinged.. 0.
Even
tflddUBg Fair ....»„
0-96 on Strict Good JMld. Tinged.. 0-80 OB
0-62 on Strict Middling Tinged.. _ 0-06 off
Urtot Good Middling
Jood MlddUng
...... 0-44 OS
Middling Tinged
O-ltoS

460

942

36,079
16,114

164,166

proving to be sufficient to absorb free olferings for the account of interests who have been operating on the bull side
of the market;, but at present prices are not disposed to follow the market, and have sold out. The movement of the
crop for the week has been large, being far in excess of the corresponding week last year, but this has failed to inflaence the
bull interests, who are basing their operations on a belief In
a short crop, and predict that the present heavy movement
of the crop will prove to be of short duration. The Southern
spot markets have been firmer, following the advance In
futures, and latest advices from the S.)uth are to the effect
that many planters are showing a disposition to hold their
cotton for still higher prices. Domestic spinners have been
reported more active buyers of cotton the past week, but
there has been a falling off in the export demand. It is now
stated that much of the recent acfive buying of cotton for
export was tor Rasslan interests, but that this demand is
now about satisfied. To-day the market was active and
higher on heavy buying, stimulated by predictions of a falling off in the crop movement. Cable advices were received
from Liverpool saying that it was expected that Mr. Ellison
will be out with a circular soon reducing his estimate of the
consumption of American cotton to below 10,500,000 bales
should present prices be maintained, but this information apparently had no iuflaence as a market factor. The close was
steady at a net gain for the day of 11@24 points. Cotton
on the spot has advanced, closing at 1150c. for middling

1,000

87

I6H.066

8.7ftO

1.300
6,000

14,000

6,001
25,761
10,360
76.895
37,404

466.608

176.626

260
80,774

"500

138.76»
78.613
83,712

22,937 23,406 361,336

81,116

1.000
4,181

6,50'6

20,U00

1.3«0 101,171
6.446 127.864
3,000 45,300
6,600
2' 600
13,201
9,000
9,000
8,300
40,000

63,905 40.032 75.848 24,190 17,128 221,103
77,^83 41,816 88,908 25,301 16.358 244,618

Nov. 18

62.874
7,158

163,593

..

ttoek.

Total,

72,432 79,396

The

Total.

601.587

18.846

Saarran^fte.
Total

1903

17/,26l
16.287
98 994
12,8E8

Charleston...
Port Royal...

WUmlDfrton...
Norfolk.
N'port N.. *«..
New York...
Boston
Baltimore ...

18,

ConU\

21,808 32.769!29.597 16.637
17,882 42,803 60,733
4,700 2,400 35.200
6,600
1,642
923 8,136

how

The exports for the week ending this evening reach a tot«
of 288,187 bales, of which 158,056 were to Great Britain, 26,769
Belov
to France and 103,363 to the rest of the Continent.
are the export* for f r«*» wpek <»nd alnop S«pt. 1 19<>8.
£xj>ortt

New Orleans.
Oalveston.. ..

Good Ordinary,

416,04

Since Sept. 1 2041,444 ;i9l7. 11012742, 550 2794,9 j7,256tj, 112 3692,247

With Ending

Itta'Hng
Brtat
GerOther OoattBritain fr'ne* many. tor'gn •oi*e.

feature has been (^normous speculative buying, this

Tot. this week. 65,631 71.9 3 101896 66.481i 71,242 78,074| 449,297

Beeeipt$ to

ON SHIFBOAKO, HOT OLBARDD VOB—
Nov. 13 at—

Speculation in cotton for future delivery has been active
and the upward tendency to prices has continued.
The

65
578

62

1

Boston
Baltimore

Barrowp, Prodace Exohan$;e Building,

ft

Total 1902.,
Total 1901..

369

York.

Sept. 1, 1903,

Lambert

Total 1903,.

•

N'pt News.&o.

Phlladelp'a,Ao

We

Obarleaton ...
Mobile
Norfolk
New York....
Other ports .

.

New

In addition toabOTe exports, oar telegrami to-night also
give n» the following amount! of cotton on shipboard, not
cleared at the port! named.
add similar figures for
New York, whiob are nrepared for our special use by Messrs,

Savannah..

^6.299 26,a42, 43,244! 24,110 25,276 16,193
2,832
Sab. Pass, Ac.
New Orleans. 12.603 24,300 30.410 19,587 21,216 16,645
616 3,427 1,598
Mobile
5,387
1,660 3,326
4,136
Pensacola, Ao.
12 904 8,922 16,263 14,246 11,135 11,468
Savannah
12,487
Bmnsw'k, &c
448 1,601 1,696
Charleston ...
1,286 1,936 1,553
33
Pt. Royal, &o.
1,522
4,104 4,005 3,314 3,031 2,984
Wilmington
36
Wash'ton.&o.
3,426
4,603 4,715 8,273 6,515
Norfollr
3,991

OalyeBton

[YoL. Lxxvir.

FUTUBBt

MASK HI
0LO8BD.

4&i,aa

m»oort.

Firm

.rfUiet ... ........

B'rly steady.

8t'dy, 6 pts. adv
9t'dy, SO pts. ad.

im
12>6

1877
1876
1875

18Ki«

1874......14%

1878
1872

14''s

19i«

or spot a OOHTBi.OT
Oonlumti

Oontract.

total.

208
902

Firm
Steady

• •••

..^

203
102
202
180
62*

1,70*6

1,087

Qtilet,lOpts. ad. Strong
vnl«t. .......... ttMsaay ......

Qnlet

1878.-..C.121*
1878
99a

400

3,325
1,487

8.349

2,900

5,249

806

Z02
180

9

w

.:

THE CHRONICLE.

2^0V. 14, 1903.]

FUTUKES.—Highest, lowest and

closing prices at

New

York.

1881

—

At the Interior Towns

the movement that Is the receipts
the week and since September 1, the shipments for the
week and the stocks to-night, and the same items for tha
corresponding period of 1902 is set out in detail below.
for

—

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O

Thb Vibiblr tJDPPLY OP OoTTON

to-nlgHt, skH made ap Dj
cable and telegraph, Is as follows, Foreign itocks, as wel
the afloat, are this week's returns, and conseqaentiy ali
foreign figures are brought down to Thursday evening
But to make the total the complete figures for to-night
S:ov. 18), W6 add the item of exports from the United State*
eluding in It the exports of Friday only.

M

1903.

8lo«k at Liverpool....^ b»lei. 318.000
8»«ekmt London
.
16,000
Stock at Manohester.... ..^^
23,000
Total Ureat Britain stookr 256,000
took at Hamburg. ..^^^..^ 26 000
took at Bremen ..^ ..^ ....„ 10 1 000

took at Antwerp
,^..
took at Havre
—^ ..„ .....
took at MarBellles
^
took at Barcelona
took at Oenoa
took at Trieste ..^^
.'

4

000

78000
8,000
19,000
89,000
6.000

1902.

1901.

1900.
365,000
14,000

316 000

291000

9,000

7,000

325 000
9 000
111.000
5 000
70,000

298 000
12 000
73.000
3 000

SOOO

2000

8t OOU
2 000

Overland Movement fob the Week and Since Sept. 1.—
Deiow a statement showing tne overland movement
for the week and since Sept. 1, as made up from telegraphic
reports Friday night.
The results for the week ending
Nov. 18 and since Sept. 1 in the last two years are as follows,

We give

379 000

72,000

The above totals show that the interior stocks have inn-eased during the week 60,726 bales, and are to-night 162,971
bales leas than same period last year. The receipts at all the
towns have been 71,418 bales more than same week last year.

1903.

15.000

10 J 000

November

1902.

13.

4,000

Wfk.

t€pt

1.

Mintt

W»»H.

8tpt.

1.

45 000
IS 000
8,000
24 000
10,000
11,000
.
3 000
4,000
1,200
Total Continental stoeke .
269 OOP 269,000 191,0 lO 234,200
Total Bnropean stooks..^' 52S.000 691,000 489 000 613,200
Imdla cotton afloat for Europe
190O0
18.000
8 000
49,000
Amai. cotton afloat f or £'r ope. 832.000 625,000 928 000 768,000
Kypt.Braill,&o.,aflt.for E'pe
51,000
73 000
62,000
48,000
took In Alexandria, Egypt... 116,000 124,000 151.000 127 000
took In Bombay, India
„ 140 000 141 000 105 000 153.000
took In United States ports.. 807.944 853,314 801.808 737.053
took In D. B. Interior towns.. 397.982 560,953 601.545 59U 008
United States exports to-day.^
33,605
47.970
81.758
43 718
Total tslblesttpply......»2,925,581 3,037,237 3,178,111 3,128,971
Of tke abOTO, totals of American and otHer desorlptiona are aa loliowe

SKipped—

UTeroool atoek
..bales. 146.000
Manchester stock
23,000
Oononental Btocxa...... .._ 211.000
American afloat tor Bnrope... 832.000

37,977 104,622' 51,0061 278,220
Canada.
The foregoing snows that the week's net overland movement
ihis year has been 37,977 bales, against 51,006 bales for the
«eek in 1903, and that for the season to date the atrgregatenet
iverland exhibits a decrease from a year ago of 173,598 bales.

,...

AwMTiMn—

United States stock
807,944
..
United States interior stocks. 397.982
UnltedStatesexportsto-day.
33.e05
.

ToUl American

2.451.521

Jkul Indian, Braail, ilc—
UreTpoolstook....^..^....^
Iiondon stock.....
Oonuaentaisiocxa.....

^___

India afloat tor Borope . ..^^

nrpt,Braxil, Ac, afloat.

Bfeek la Alexandria, E^ypt...

took in Bombay,

India.. ....^
Total Bast India, *o.

—

72.000
15 000
58 000
19 000
54,000

116 000
140 000
474,000

Total Amerlean....^
^ 8,451,631
Total risible supply.
2,925,531
Middling Upland, Uverpool..
6-14d.
Middling Upland, New fork.. 11-500,
GkkxI Brown, laverpool
MgTPt
„8'8d.
Pamr. Bough GK>od, Liverpool
9-OOd,

248,000

220,000

309,000

154,000 211000
928.000 768,000
801,808 737 os-i
601,545 590,008
31.768
43,7i8
2,569,23732,737,111 2,658,779

239,000
625.000
853 314
560,953
47,970

73,000
71.000
66,000
9 000
7,000
14 000
30,000
28.200
37,000
16,000
8 000
49,000
73 000
62,000
48,Oao
124.000
151,000 127,000
141,000
105,000
153 000
463,000 441,000 470,200
2,569,237 2,737.111 2.658,779
3,037,437 3,178.111 3,128 979
4-44d
6»,6<1.
46igd.
8-300.
78isd.
6-9oa.

80.
613iftd.

73ied

7d.

77,6d-

Broaoh Vine, Llveipooi. ....,«
6i3,,d.
4\d.
Sioiad
473ad.
nnnevelly GKMd, LlTerpooL.. 6lli8d.
426333.
6^d
47i6d.
Ck>ntinental Imports past week have basn 141,000 bales
The above figures for 1903 show an increase over last week
of 294,700 bales, a loss of 111,708 balfes from 1902, a decrease of
352,580 bales from 1901 and a loss of 203,448 bales from 1900

i^

V

a St. LonlB
Via Cairo
Via Padaoah
via Book Island.......
Via LoulevUle
Via Olnolnnatl
Via other routes, Ac

13,682
17,115

»

7.876

35.663 31,841
46,802
9,171
130
25
1,776
700
7,718
6,4 5
5,455
1,271
29,867
8.264

Total gross overland...........
Oednei ihipmenU—
Overland to N. Y., Boston, *o..

41,847

126,706 57.862

726
1,885

564

979
39S

158,859
49,688

321,230

1,113
5,845

81 768

<?

6,609
68,363

Total to be deducted

6,543

2,493

7,584
2,624
11,976

731
682

22,828
6,878
13,309

3,870

Between Interior towns..........
Inland, Ac, from South.

22 084

6,8^ 6|

43.010

liOavlng total net overland*...

Including

movement by

rail to

In tight and Bpinners

1902.

1903.

Sinoa

Takinti$.

Wfk

Sine*
M»vt.

1.

Beoeipts at ports to Nov. 13

449,297 2,841.444 341,448 2,917,110
i!Tet overland to Nov. 13
37,977 104.622 51,006 278,220
Southern consumption to Nov. 13 42 000 411,000 40,000 433,000
Total marketed
Interior stocks in excess

529,2748,3 7.06«>1432,454 8,028,380
50,7261 886,380i 82,0 9 497,875

Came into sight .during week.. 680,000
464,523
Total in sight Nov. 13
3,748,446
4,126,205
Worth'n spinners' tak'gs to Nov.l3

Movement
Week—
1901- Nov. 15
1900- Nov. 16
189 - Nov. 17
1898 -Nov. 18

62,0 8

402,914 8^,701

into sight in previous years,
BaUa.
Binte fiept, 1—
444.528 1901-Nov. 15
435,474 1900-Nov. 16
397.910 1899— Nov. 17
500,956 1898— Nov. 18

,..

.^

519,794
Bales.
3,848,821
4,027,318
3,"86,768
4,713,864

THE CHRONICLE.

1882

Quotations pob Middling CorroN at Other Mabkbts.Below are closing quotations of middling cotton at Southers
and other principal cotton markets for each day of the week,
OLOaniO QDOTATIOHB FOR MIDDLIIIO OOTTOH

Week etiding
Nov. IS.

6&lVMton.

.

Obkrleaton..

Wllmlnj^n.

10-37>s

10\

Boston
Baltimore

10^

10%

10%

109,«
10-SO
^O'e

1038

108a

10%

lOBs
10-62J«
11

11-15
10-87
11-40

ll'PO
11-40

11-00
11 40

11 40

ICg

MeMphla

10 Sg
IOBb
lOJa
11

Lonla

HooBton
dxelnnatl ..
Little Book.

10-75

lllS

11-00

ogiuta

1^6

10^8
10ISj8
10»8

11 05
.

PhiladelphlA
St.

1013,8
1OIS16
10>«

10%

IO89

loia
lOa,

Wortol*

10=8
101*

rMM.

iron.

10"ie

Hew Orleans 10^
MobUe

Thun.

10\

10i«

Wednei.

lOivj

Matur.

10%
10%

u

1038

1115
1100
11-45

IOVIB16 lOlBis-ll

10%
10%

lO'e

10%

lOUi,

10%

11

11

lOk

1008
11
IOI4

lOiiia

10^8

1115

10%
10%
10%

lO'e

1075

10%

10%
lOTg

60 to 92.

10%

iAugusta, Georgia.—
have had only a trace of rain the
past week. The thermometer has averaged 53, the highest
being 70 and the lowest 83.
Savannah, Oeorgia.—We have had rain on two days during the week, the rainfall reaohing two hundredths of an
inch. Average thermometer 58, highest 78, lowest 40.
Oreenxtood, South Carolina.— There his been no rain during the week. The thermometer has averaged 49, the highest
being 60 and the lowest 39.
Charleston, South Carolina. There has been a trace of rain
on three days during the week. The thermometer has averaged 66. ranging from 40 to 74.
Stateburg, Houth Carolina, Late cotton Is opening rapidly
and picking will be finished about the end of the month.
Frosts Saturday and Sunday. There has been no rain tho
past week. The thermometer has ranged from 81 to 71,

OH—
Fri.

11
11

10-621«
111 16
11-20
11-12
11-75
llifl

IOI18
lOTg
lO'e
11
10S8

Nashville

lOifl

Natohei

lOiiig

Raleigh
10%
Shreveport
10%
New URLEAN8 Option RIabkkt.—The highest, lowest and
closing quotations for leading options in tne New Orleans
cotton market the past week have been as follows.

11
Obarlotte
CtolnmbUB. Ga. 10i«

Sat'day.
Nov. 7

—

NOV'BEB—
Ranee

LoolBvtlle

,

MontKomery.-- 11

Monda,

Tuetday, Wed'day, Thund'y Friday
Nov. 10 Nov. 11. Nov. 12 Nov. 18

Nob. 9

— 9- —

•»

_

-

— —

— 9— — «—
— 10-139-16

9-80

—

Montgomery, Alabama. Farmers are generally selling and
marketing freely. We have had rain on one day of the past
week, the precipitation being one hundredth of an inch.
Average thermometer 65, highest 75 and lowest 36.
Sehna, Alabama. We have had a trace of rain on one day
during the week. The thermometer has averaged 58, the
highest being 75 and the lowest 85.
Madison, Florida.— It has rained slightly on two days of
the week. The thermometer has averaged 68, ranging from

oioslng quotations to-day (Friday) at other important

Southern markets \sere as follows.
OolTimbiu, MlBB lOifl
Athens
10%
Eufaola.
10%
tl&Dta

[Vol. Lxxvii.

—

We

—

—

averaging

52.

—

There has been no rain during
the week. The thermometer has averaged 50, the highest
being 68 and the lowest 31.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named, at
3 o'clock Nov. 12, 1908, and Nov. 18, 1902.
Charlotte, North Carolina,

Closing... 10-Ta»-73 10-669'68 10-67 9-69 10-769-77 10 '93 9

Dec'bkb—

Nov

Range.... 10-61«-81 10-609-81 10-629
Clofllng

.

10809

0-76
81 10-65 9-66 10 77 9-78 10 82
77

1

»»

9

-99

88 10-959-96 11-16 9-17

jAirUABT—
Range.... 10-689 89 10-669 84 10 67 9 83 10 809-04 10-789-20 11059 25
Closing . 10 87 « 88 1O-709-71 10-839-84 10 879 88 11-179 18 11-22 » 28
.

Maech—

Range
Clonng

. .

Mat-

10-789 05 10-849 00 1074900 10 989 20 10949 34 11-209-41
11039 04 10-879 88 10-99 9-00 11 04 9 05 11-329 33 11-39 9-40

Range.... io-w» ai 10 999 16 10909 17 11 149-35 11 109-44 11-339-66
Cloarng... 11-199 20 11 049 00 11 -16 9 -17 1-20 9-21 11-44945 11 669 66
1

Tone—
Spots.....
Options...

Plrm.
Firm.

Easy

Firm.
Steady.

Steady.

Firm.
Steady.

Firm.

Firm.

Steady.

of cotton to

market has been on a very

liberal

scale.

OaLve&ton, Teajcw.— Weather very favorable over the State
and picking is progres8ing rapidly. It has been dry all the
week. Average thermometer 69, highest Ti and lowest 64.
have had dry weather all week.
Palestine, Texas.
The thermometer has averaged 57, the highest being 66 and
the lowest 48.
San Antonio, Teajcw.— There has been no rain the past week.
The thermometer has averaged 60, ranging from 46 to 68.
Corpus Christi, Texas, We have had no rain during the
week. The thermometer has ranged from 62 to72, averag-

— We

—

ing

18, 'oa.
Feet.

4-5
8-5
1.6

4-0
4-2

10

10-8

11-5

6-1

New OrleanB ..... ...... .Above lero ol gauge.
Ifemphls....^ ..... .....Above lero of gaage.
ffaihvlUe...^.... ...... Above zero of gaage.
Above lero of gauge.
Shreveport...^ ....
?lok8bnrg
Above sero of gange

1-4

India Cotton Movement from all Ports.— The receipts
of cotton at Bombay and the shipments from all India ports
for the woek ending Nov. 12, and for the season from Sept. 1
to Nov, 12 for three years have been as follows:
1903.

telegraphic advices from the South this evening denote that quite generally
the weather has been favorable during the week. The work
of gathering the crop has therefore progressed rapidly, and

movement

Nov

Feet.

Steady.

Wbathhr Reports by Telegraph —Our

the

12, '03.

.

10 739-97 10-99 9-17

67.

New Orleans, Louisiana,— Dry weather has prevailed all
the week. The thermometer has averaged 63.
Shreveport, Louisiana. There has been rain on one day of
the week, the precipitation reaching four hundredths of an
inch. The thermometer has ranged from 41 to 78, averaging 59.
Columbus, Mississippi,— The weather has been favorable
for picking. Cotton is being marketed rapidly at present
Bain has fallen on one day of the week, to the extent
prices.

—

UtctiptM at—

Minee

Wuk.
Bombay.

1902.

65,000

16,000

Bint*

ir«4*

Mept. 1.

Brtat

SHiain.

OoHtinent.

MiH»e
Mepi.J.

Week.

gtpt. 1.

41,000 11,000

9.000

War the Week.

MmporU
from—

1901.

102,000

Kinee aeptembt r

total.

Breal
BritoiM.

OOHtineni.

I

f Oifto

aombay1903
1902
1901
aalontta—
1903
1908
1901

1.000

2,066

1.000
1,000

i'.obo

2.000
2,000

24,000
32,(00
l&.OOO

26,000
24.000
18,000

5,000
6,000
8,000

S,0O0
6,000
8,000

4.000
1,000
3,000

4.000
1,000.
3.000

1,000
1,000

vadraB—
1903
1902
1901
411 Others—
1908
1902
1901

......

2,006

1,000
4,000

1,000
5.000

22.000
21.000
17.000

2.000

total au-

1903
1902
1901

i'obo

2,000
2.000

22,000
21,000
17.000

55,000
50,000
41.000

67,000
52,000
41.000

Alexandria Receipts and Shipments of Cotton.—
Through arrangements we made with Messrs. Choremi,
of thirty hundredths of an inch. Average thermometer 51, Benaohiife Co.,of Alexandria, we now receive a weekly
highest 65, lowest 35.
cable of the movements of cotton at Alexandria, Egypt.
Leland, Musis»ippi.—We have had rain during the week The following are the receipts and shipments for the
to the extent of ten hundredths of an inch. The thermom- past week and for the corresponding week of the previous
eter has averaged 53, the highest being 75 and the lowest 31. two years.

—

Vicksburg, Missis-nippi. We have had rain on one day
during the week, to the extent of twelve hundredths of an inch.
The thermometer has averaged 57, ranging from 36 to 74.
Little Rock, Arkansas,— Picking is making good progress.
We have had rain on one day during the week, the rainfall
being three hundredths of an inch. The thermometer has
ranged from b9 to 72, averaging 56.
Helena, Arkansas. Rain has fallen on one day of the week,
tbe rainfall being eight hundredtbs of an inch. Average

—

thermometer 53, highest 73, lowest 34.
Nashvxlle, Term.—-We have had rain oa one day the past
week, the rainfall being fourteen hundredths of an inch. The
thermometer has averaged 49, ranging from 82 to 67.
1/emp/its, Tenne.ssee.— Picking active and in some sections
have had rain on one day during the
is nearly finished.
week, tt/e precipitation being two-huodredths of an inch.
The thermometer has averaged 54, the highest being 69-9 and
the lowest 34 6.
Mobile, Aiohama.—TlhQ weather has been very favorable,
and cotton picking is completed on uplands and ne%ring
completion in lowlands. Marketing continues free. It has
b^en dry all the week. The thermometer has ranged from
42 to 78, averaging 60.

We

AUxandria, SgUP^
Novemoer 11.

1903.

1902.

Reeeipte (oantars)*—

This week
Since Sept. 1

335,000
1,964,881
Thie
week.

Exportt (bales)—

To
To
To
To

9,250
6.250
10,250
2,250

Liverpool

Manchester.
Continent...

America

This
week.

49,198 11,712
9,87?
59,703 13,162
4.27 c
5,185

2?..360

Sinee
Sept. 1.

68,048
33.809

820,000
2.019.588
Thie
week.

2,865

64,r«15 15,456

16.474

8.450

Since
Sept. 1.

38,946
20,462
84,384
17,800

28,000 139.446 39,022 188,146 21.171 161,592

Total exports
*

Sinee
Sept. 1.

340,000
2,266 006

1901.

....

A cantar Is 98

povinds.

Jute Butts, Bagging, Etc.—The demand for bagging
during the past week has been very quiet, but prices are unchanged at 6%c. for \% lbs and 6^c. for 2 lbs., standard
grades. Jute outts dull at l%@l%(i. for paper grades and
2@23^c. for bagging quality.
received by cable
from Manchester states that the market is quiet
to-night
Merchants are not
for yarns and steady for shirtings.

Manchester Market.— Our report

Nov.

THE CHRONICLE.

14, 1903.

1883

willing to pay present prices. We give the prices for to-day that part of the world. It is the purpose of the publlsherslof
below and leave those for previous weeks of this and last the West African "Mail" to give considerable attention to
the subject and it should, therefore, be of value to those inyear for comparison.
terested in cotton,
190S.

1903.

BH lbs. Shirt- Oott'n SSj Oop. SH lbs. Bhirl- OoU'n
%ngs, eovxnion Mid.
ings, oommoti Mid.

S2«

<7op.
Tveitt.

8.

Oct. 9 gll,a99V4

" 16 8iiia99i4

" 23 4l«
••
30 8W
" 18 8H

m

8.

6-80
OS
98 !>• 694
5 98 1^ 5-74
5 98 li« 5-74
594
5 98
5 «»8 1>« 614

m

3

5

»96,« 5

Upld*

to finest.

d.

d.

A.

d.

6
6

5
5

<»9>«
f>9i«
<»9>4

Nov.68a«

d.

5

d.

a.

T*oist.

Upids

to finest.

d.

8.

B.

d.

2»fli»7

2

97

l'«^7

4-78
4-72
4-68
4-64
9
7i< 4-52
7»« 4-44

Bureau's Report on Cotton-Qinninq.- The
Manufacturers in the Census Bureau completed
and issued on Nov. 7 the first of its series of reports on cot-

Census

Divisfion of

ton-ginning the present season as follows:

D

yorth, Director of the Censxts:
SiR-Ihave the honor to make the followlnK report by States and
Teriltorles on the quautlty of cotton ginned from the growth of 1903
np to Oocober 18, 1903, accompanied by comparative statJstloa of the
cotton ginned to the corresponatng date in 1902.

Hon.

S. If.

,

Gotloii aiyined to Oct. 18,
coin-

Stales

—

^Oot'n Oinnedto Oct. 18, '02.
Sea
Island Total Com
Per

1903.

Total

Square

Round

crop,

mercial

Ot.of

biles.

Territories—

bales.

bales.

bales.

bales.

Crop.

United States.. 8,839 627 3,66ti,75l 806,758 16,113 8,925.872 53-5
585,7H3 57-9
33,329
446.102 413,773
Alabama
360.800 36119,623
10,210
129,833
Arkansas
7.064
29,779 44'
16.372
23,438
Florida
2'S,115
7,550 90«,949 60'
819,644 586,979
Georata
16.930
201,019 49
49,893
66,823
Indian Terrify.

Kentucky

284 21-7

211
218,537
455,302
6,019
232.594

211
241,100
479,103
8.027
232,625

369,408 40 5
559,126 38-5
14,963 302
303,029 63-3
S6,f)66
84,699 38-8
40,?>26
OklHhoma
413,'.05
601,431 6:^4
1,504
So. Carolina.... 414.709
121,180 36'»
6602
69,748
63,146
Tennessee
1,781,797 68-9
1,065,229 94 V!. 020 123,209
Texas
5,625 339
2,511
2,511
Virginia
Ihe above statistics of the qaantltv of cotton ginned were collected
through a canvass of the Individual' ginneries of the cotton States by
631 local special agents who fount that 27.723 ginneries had been
operated this season prior to October 18, and that these had ginned
3,839,627 commercial bales, or bales as pressed at the ginneries.
Ooantlng round bales as half bales, the number Is 3.706.248.
To the corresponding date last year 29,314 ginneries had t»een operated and had uiuned 5,925,872 commercial baes which was 53 5 per
cent of that year's production. In comparing the statistics of the two
years ,due allowance must be made for the dlflerent conditions of the

Louisiana'
MlssiBslpol
Missouri
No. Carolina...

22,563
23,801
2,008
31
3,960

two

seasons.
This report will be followed by three others showing the quantity of
cotton ginned from the growth of 19v>3 to November 18, to December
13 and to the end of the season. The tlnal report will give the quantity of cotton ginned during the entire seasou, aad will Include also
the quantity of lluters obtained by the cotton-seed oil mills from reglnuing cotton-seed of this year's growth.
Very respectfully, W. M. Stbuabt,
Chief Statistician for Manufactures.

Approved,
N. D. NoBTH, Director.

8.

—

Sea Island Cotton Movement. We have received this
(Friday) evening by telegraph fiom the various ports the
details of the riea Island cotton movement for the week
The receipts for the week ending to-night (Nov. 13; and
since Sept. 1, 1903, the stocks to-night, and the same items
for the corresponding periods of 1903, are as follows:
1903.
Beceipts

to

Nov. 13.

Savannah ....

1902.

Slock.

This
Since
This
Since
week. Sept. 1. week. Sept. 1. 1903.

Total

16,615
3,285
2,014

8,935

23,726

79
636

607

3,864
2,232

4,720

.........

Charleston. &o......
Florida, dec...

21,914

4,542

3,305

....

7

JANUART

1

TO JDNB

30.

To China (bales

To China (bales

400 lbs. each).

34,660
27,878

1880
1881
1882
1883
1884
1886
1886
1887
1888
1889

44,329
60,201
72,880
99,723
100,797
120,644

1890
1891

149,973
193,287

S'i.S'^l

125,6'*6

400 lbs. each.)
185.4!S2

1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903

178,574
176,218
170,460
220,372
142,965
194,896
305,263
161.177
256.211
818,367
314,526

The above indicates that the shipments to China during the
months of 1903 have been slightly leas than in 1903, but

six

greater than in any preceding year.

.

mercial

and

inclusive:

d.

2i«97 9
2>«97 9
2>«o7 9

73,« 98»i8'5
78i« 98ii«5
7«,s «8ii«5
7Sia 98li6 5
71,0 98
5
7l,« -»»
5

.<9i.*4

Exports op Yarn from India to China.— We give below
a statement of the shipments of yarn from India to China
during the first six mouths of the calendar years 1830 to 1903,

1902.

9,141 10,420
760
1,160

760

715

29,«22 11,051 11,«95

The exports for the week ending this evening reach a total
of 909 balee, of which 450 bales were to Great Britain, 469
to France and 70 to Bremen, and the amount forwarded to
Northern mills has been 1,69 J bales. Below are the exports
for the week and since Sept. 1 in 1903 and 1903.

—

SHiPPiNa News. As shown on a previous page, the
exports of cotton from the United States the past week have
reached 388,187 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
Total bales.

Nbw York—To Liverpool, ner steamer Cevio,

2.906
2,906
ConTo Hull, per steamers Colorado (additional), 100
1,225
suelo, 1,125
Rheln, 872
1,328
To Bremen, per steamf rs Frledrloh, 456
per steamer Finland, 511
511
To Antwerp,
To Warberg, per steamer Island, 50..
60
Barcelona, per steamer Matiuel Oalvo, 101
101
To
Cltta dl Milano
To Genoa, per steamers Calabria, 310
(additional). 40O....Lahn, 400 ...Frioce Oskar, 1,781
2,891
To Naples, per steamer Prince Oskar, 100
106
Nbw OBLBAN8 -To Liverpool -Nov. 7— Steamers American,
15,600; Logician, 10, >^75 ..
26,475
To Manchester— Nov. 7— Steamer Manshester Miller, 7,199
Nov. 11 Steamer Bellarden, 50
7,249
To Hnll-Nov. 13— Steamer Cycle, 3,359
3,369
To Bremen— Nov. 7-8teamer Llvland, 6,795
6,795
To Llsbon-Nov 13— Bark Florlnda, 300
3C0
To Barcelona -Nov. 6— Steamer Puerto Rico, 3,600
3,600
To Malaga-Nov. 6 Steam *r Puerto Rico, 1,000.
1,000
Nov. 9—
To Genoa— Nov. 7— Steamer Mussllla, 2,421
Steamer Moncibello, 4,139
Nov. 10— Steamer VI ncenzo
Bonanno, 5,900
12,460
Cruz -Nov. 3— Steamer Dagfln, 50
To Vera
50
,

—

Galveston To Llverpool—Nov.7- Steamers Comedlan,12, 868;
Courtfleld, 12,736
Nov. 11 — Steamer

Nov.

9— Steamer Norseman,

Memnon, 7,502

22,817
Nov. 12 -Steamer

Maranhense, 5,602

61,325

To Belfast— Nov. 11— Steamer Carrigan Head, 4,700
4,700
To Manchester— Nov. 7 8tr. Miguel de Larrlnaga, 14,323. 14,323
To Havre-Nov. 7— Steamer Bernard, 8,226
Nov. 9—
Steamer Rlojano, 12,784

To Bremen Nov. 11 Steamer Kolb, 15,303
To Hamburg Oct. 31- Steamers Corby,

21,010
15,303
487;

Jupiter,

Nov. 3— Steamer Inchmaree, 3,120
2,983
Nov. 5SteamerParthla, 1,050
,
7,640
6 -Steamer Middleham Castle, 2,183....
To Antwerp Nov.
2,183
6 -Steamer Aim, 1.400
To Vera Cruz -Nov.
1,400
Mobile—To Bremen— Nov. 6— Steamer Castleventry, 7,8.^1... 7,851
Penbaoola- To Liverpool -Nov. 13— Steamer Franclsoa, 3,500 3,500
Savannah— To Liverpool Nov. 10— Steamer Muroia. 5,060
Nov. 11 Steamer Planet Venus, 8,769
13,829
To Manchester— Nov. 10— Steamer Murcla, 2,8i4
Nov,
14— Steamer Planet Venus, 6,115
7,929
To Havre-Nov. 12— Steamer At as, 5,759
5,759
To Bremen— Nov. lO-Steamer Sldra, 2,336
Nov. 11—
Steamer Felix de Absolo, 7.135
9,471

To Rotterdam— Nov. 10-8teamer Siora, 343
Nov. 13—
Steamer Atlas, 157
500
To Ghent Nov. 13— Steamf^r Atlas. 200
200
To Gottenburg Nov. la— Steamer Atlas, 400
400
To Reval-Sov. lO-Steamer Sidra, 966
Nov. 11Steamer Felix de Absolo, 2,800
Nov. 13— Steamer
Atlas, 250
4,016
To Riga— Nov. 10— Steamer Sldra, 691. ..Nov. 11— Steamer
Absolo, 650
Felix de
1,341
To St. Petersburg - Nov. 10— Steamer Sldra, 489
Nov. 11
- Steamer Felix de Absolo, 350
839
To Oporto -Nov. 10 Steamer Sldra, 24
24
Wilmington-To Bremen— Nov. 9— steamers Anchenblae,
13,513; Stag, 5,734. ...Nov. 13-Steamer Bona, 7,884.... 27.131
Nbwpobt News—To Hamburg— Nov, 10— Str. Albano, 260...,
250
Boston To Liverpool— Nov. 6— Steamers Ivernla, 1,003
Nov. 10— Steamer Wlnttredian, 569
Nov. 12—Steamer
Colombus, 1,200

Week Ending Nov.ld. Since Sept.

1,

1903. North' n

MiU»

Xaports

from—

Great Fr'nce
Great Fr'nce
Total. Brit'n.
Total.
BHt'n.
<tc.
<tc.

Savannah...

450

459

£09 2,205

Oharl't'n,d(C
Florida, &c.

New

"206

York..

Boston

1,489

"88

887

3,694

"288

Since
Week. Sept.!.

713
250
636

5.449

764
2,064

387

PhUadelp'a.

Baltimore— To Liverpool -Nov. 6— Steamer Vedamore. 2,750
To Hamburg Nov. 3— Steamer Bethanla (additional), 127.
Philadelphia—To Liverpool -Nov. 6-8tr. Frlesland, 714
Sam Fbahoisoo—To Japan— Nov. 10-Str. America Mara, 600.
Total

2,772
2,750

127
714
500
288,187

The particulars of the foregoing shipments for the week
arranged in our usual form, are as follows.
Great French Oer- ^Oth.E'rope—^ Mexico,
<tc.
ports, many. North. South.
Japan. Total.
661 3,092
1,328
New York. 4,131
9.112
17;360
50
6,795
61,288
N. Orleans 37,083
1,400
127,884
Balveston. 80,348 21,010 22,943 2,188
•>••« aBxsBB
«•«• «•*>• /yCvX > — ««
Mobile
/fOOX
Brit'n.

".

Total
Total 1902..

— We have

450

459

520

60

809 2,792

1,577

580l

1,864 10.957

9,093

4,369

1,599

8,267

851 10,747

received this week from Mr. J, W. Davies, of
66 Beaver Street, this city, a copy of the West African
"Mail," an illustrated weekly publication, of which he is the
manager In the United States and Canada. The publication,
as its name implies, is particularly devoted to the interests
of Africa, and especially the west and central sections of that
country. Recent developments in the cotton markets of the
world have drawn attention to the adaptability of much of
Western Africa to the cultivation of that important staple,
and it is expected that before many years the production
and exportation of cotton will be a feature in the trade of

Pensacola. OfS vv _>«**
'Savannah. 21,758 6,759

WUmlngt'n
N'p'tNewi
Boston

......

.«.•-•

Baltimore.
Phll'deln'a

/

.A

TK

•_•

><••

9,471
27fi81

7,296

24

>>>>•

-••••

•

->••

250
2,773
2,750

• « ••
••
•a
•*
>> •• •>
** •• •*

*«>>>

•

127
•• ••

•

baaaaa

•aasBC

•«««

>.>

••«
>•*
mmmmmm

tlyOOd

44,808
^ 4 tX.%»X,

^OV
^»/V«
^|Of 7
ijL^

500
500
Total..,.. 163,056 26,769 78,8»6 10,040 aO,«76 1450
600 288,187
Ttie explores to Japan since aept, i nave Deen 4,180 bales
from Che Pacific Coast.
Cotton freights at New York the past week have been

San Fran.

as follows.

THE CHRONICLE.

1884

m.

Batur.

c

15
18
25

15
18
25

15
18
25

15
18
25

25

15
17
25

22ifl

221*

22>s

22ifl

22I9

22)«

...e.

Mamohestar

Havre
Bremen
Hamborg,
ehent

tuet.

c.

Liverpool

Mon.

4.

Wednes. fAttr*.

15
17

25
25
25
25
21
21
21
21
e.
twerp
15
c.
15
16
15
30
Beval, lndlreet..e.
30
30
SO
Beval, via Oanal.e.
85
85
35
S5
Barcel'na.ind'r't.e.
25
25
25
2S
€^enoa
e. 21-22i« 21-22i« 21-22ia 21-22i« 21-221S 21-121*
Trleate, asked. ..e.
27
27
27
27
27
27
JaDac (via SneD.e.
50
60
SO
50
50
50
Qaotatlons are cents per 100 Lbs.
And 5 per cent.

25
21
15
SO
85
25

aaked.s.

m

25
81
15
SO
S6
25

—

LiTKRPOoL. By cable from Liverpool we have the following
statement of the week's sales, etocks, &c., at that port.
23

Oct.

Bales of the

week

3,0<Vi

>>•.

1,000
24.0(H
10,000
70 00t
166.00C
85 00C
lOi.OOC
88,00€
895,00C
368,0OC

25,00<
6,00(
50.00<
133.00(
64,00<
7l,00(

week

62,00<
303,00<
275,O0C

afloat

Of whloh American

Kov. 13

Nov. 6

2,000

Of whloh American

Amount

30

35,uoc

35, ou«

bales.

Of whloh exporters took. ..
Of whloh speoolators took.
Sales American
Actual export
...
Forwarded
Estimated
Total stock—
Of which American— Est'd.
Total Import of the

Oct.

44,000
2,000
1,000
3 i.OOO
7.000
93,000
209.000
139,000
163,000
141,000
343,000
311.000

43.UUI/

3,00r
1,000
Si.OOu
16,000
68.000
218,000
146,000
90,000
78,000
438,00C
398,000

The tone of the Liverpool market for spots and futnree
each da J of the* week ending Nov. 13 and the daily closing
prices of spot cotton, have been as follows.
Baeday. Mcnday. Tuesday. Wsd'day. thursd'v Fridav

apot.

Fair
bnilnesi
doing.

Fair
bnslnesB
doing.

Fair
business
doing.

Fair

Market, )
12:30 p. H.^

Qnlet.

Mid. Upl'dB.

600

6'10

590

604

602

614

4,000

7,000

6,000

7,000

800

600

7,000
1,000

7.000

600

600

500

Sales
Spec.

& exp.

Easier.

bnsiness
doing.

Futures.

Market

Br'lyit'dy Excited, Qnlet at
Firm at
3 pts.
li^iS pte. 6(2T Dti 10®!)! pts

}

opened.

^

Market,
4 p. H.

advance.

advanoe.

l

at
pts.

3d4

5k®e

pta.

tdvanoe. advance.

^

decline.

advanoe.

Easy at O't&it'dy Firm at

steady

8@9

pts.

decline

17-1

8«

pt«

advance.

Firm at
Basy at
e@10 pti. \2a1S pts.
decline.
i4teady at

9«®l0>i

p.

decliDe

advance.

Firm at
16®17 pta.
advanoe.

The

prices of futures at Liverpool for each day are given
Prices are on the basis of Uplands, Good Ordinary
clause, nnless otherwise stated.

below.

mon.

Sat.
Nov. 7

Nov

9.

Than.

Taea.
Nov. 10

Nov. 11

PrI,

Nov. 12

Nov. 18.

12Ja' 1 I219
4 12]«' 4 I2i« 4 12i« 4 12ifi{ 4
p.h.:p.m. p. H. P. H. p. M. P. H. P* AI« F» Al* F* If* P( Ml P.M. P.M.
;

1

d.

November

.

Nov.-o©«
Dee. -J an
Jan. -Feb....
Feb-.Moh...,
lloh.-AprU..

Aprll-Maj.
May-inne...
Jnne-Joly.
July-Ang...,

Am -sept..

d.

\

d.

5 811 5 8l|5
5 74 5 75 5
6 73 5 73 5
5 71 5 715
5 70 5 715
5 70 5 70 5
5 69 6 70 5
5 69 5 70 5
5 70 6 69 5
5 68 5 68 5

d.

d.

87

84
83
83
82
82
82
81

80

Bert Oct...

d.

75 5 7'
5 81 6 70 571
6 78 5 68 5 70
5 77 6 6t5 6 6'
5 76 5 66 5 67
6 76 6 66 S 66
5 76 5 65 5 68
5 76 5 65 56
6 75 5 64 5 67
5 74 5 63 5 66

92| 5 86' 5

d,

d.

d.

d.

d.

d.

6 87 6

00 6 03

^79

5 76

5
^

5 75
6 75

89 5 92
88 5 92
88 5 91
88 6 91

89 5 96
5 64 5 90
5 81 5 87
5 80 5 86
>

5 87
5 81
5 78
5 76

5 ^-6 5 76
79 6 SI 5 76
79 5 85 6 75
^79 5 85 5 74
^78l5 84 5 73
5 77 5 83 5 72

5 80 594 5 97
6 77 5 90 5 94
5 76 5 69 5 92

5 75
5 74 687 5 60
5 72 5 85 5 89

.1

outports for the week being light; prices have declined.
To-day the market was fairly active and firmer on light
receipts in the Northwest and shorts covering. The spot
market was more active. The sales for export here and at
outports were 220,000 bushels.
DAILY OLOBINO PRICES OF N0.2 RED M'INTBR WHEAT IN MB
YORK.
Sat
Mon.
JStes.
Wed. Thurs.
Fri.
Oa«h wheat f. o. b
84ie
86!^
86
8-^
843^
85H
Dec. delivery In elev
86>«
B^\
85
8378
8458
83^

W

May delivery In elev
82>6
8108
82%
81
78 ''8
Jaly delivery In elev
80
794
DAILY CLOSING PRICES OF NO. 2 SPRING WHEAT IN

Feidat, Nov. 13, 1903.
dragging market has been experienced for wheat

dull,
Owing to
flour.

Sat
7838

Mon.

Tueg.

77ie

77%
744

774
73%

sm

8088
78I4

78>«

CHICAGO.

Wed

77ifl

78^

Deo. delivery In elev
May delivery In elev
July Qeuvery ineiev

veas
7688

Thura.

Fri.

76

76''8

7«ia
73>«

77

73%
Indian corn futures have received a limited amount of
7408

734

speculative attention, but the tendency of prices has been
towards a higher basis. The monthly report of the Agricultural Bureau, issued on the afternoon of the 10th inst.,
indicated a yield from the present crop of 2,800,00iJ,00O
bushels, which is only a slight decrease from last season's
record-breaking yield, and prices weakened. Advices received from the interior have been generally favorable for
the crop, and it is understood that husking is making good
progress. During the latter part of the week there were reports of lighter country offerings and a prospective falling
off in receipts, but, owing to a quiet cash demand and
liquidation by speculative holders, prices continu^'d to sag.
Tne spot market here and at outports have been quiet. Today the market was firmer on smaller receipts.
DAILY OLOBINO PRICES OF NO. 2 MIXED CORN IN NEH^ YORK.
Sat.

Oaeh corn

Jlfon.

Tuet.

51%

50%
Deo. delivery In elev
SOIg
49%
50»fl
May delivery In elev
49 4
48%
48%
DAILY CLOSING PRICES OF NO. 2 MIXED CORN
f.

o.

b

52

Sat.

Mon.

Tues.

444

43%

4338

43

42^8
42I3

Wed.
50>«

Fri.

Theirs.

4

5

504
494
47%

48''g

48'8
4708
47%
IN CHICAGO.
Wed. Thurs.
Fri.

42^

41%
42%
41''8
41%
41*^6
434
42^8
42%
414
414
Oats for future delivery at the Western market have been
quiet and there has been a weaker turn to prices. The crop
movement has been only moderate, but offsetting this has
been a slow trade demand, and this, C( upled wi'h liquidation
by speculative interests and sympathy wiih the decline in
prices for other grains, has resulted in lower values. Locally
the spot market has been fairly active at lower prices. Today the market was firmer on a smaller crop movf-meot.
Dec. delivery in elev
May delivery in elev
July delivery in elev

4108

DAILY CLO8INO PRICES OF OATS IN NK"W YORK.
Sat.
Mon.
Ttus.
Wed. Thura.
FriNo. 2 mixed in elev
4(^4
414
414
4O4
4U
404
No. 2 white In elev
43
42
4S4
43
424
42
DAILY CLOSING PRICES OF NO. 2 MIXED OATS IN CHICAGO.
Sat.
3/iur«.
Mon. Tnes.
Wed
Fri.

854
36%
34%

Dec. delivery in elev
May delivery in elev
July delivery in elev

3478

344

86%

3608

3378

83%

33

84%

35
3208
34
33%
33%
Following^are,the closing quotations
FLOCR.
Pine.. -.
Patent, winter
$4 20 '34 45
$2 90 ®2 95
Superfine
City mills, patent. 4 65 '85 25
2 85 ®3 10
Extra, No. 2
Ryefl^ar, 8apt*rflae 3 25 ®3 60
3 10 ®3 20
Extra, No. 1
Baoftwhe«t floor.. 2 25 ^2 35
3 25 ®3 40
Clears
Corn meal3 50 ®4 00
Straights
3 90 ®4 35
Western, etc
2 90 '3>3 00
Patent, spring
4 50 ®5 25
Brandy wine
3 00 98 05
Wheat, per bush—

H

DuL.No.

1

N'thern Dal., No. 1.
Red winter, No. 2..
Hard winter, No. 2.
Oats— Mixed, p. bush.

White

BREADSTUFFS.
A

[Vol. lxxvii.

No. 2 mixed...
No. 2 white

GRAIN.
Corn, per bu«h—

o.

o.

f.o.b
t.
t.

o.
o.
o.

b.86B8

b.86%

b.8208
394'3' 12

t.

35
33

Western mixed
No. 2 mixed
No, 2 yeiiow
No. 2 white
Rye, per bush —

0.

<

49
f.

o,

®514
b.50%

50%

f. o.

b

f.o.

b.50%

W^estern
40%@45
564960 4
404® 41% State and Jeraey... 56 ®^8
Barley— West
42 ®43
49 ®83

Feeding

40

943

Exports of Grain and Floar from Paelflc Porta.— The
exports of grain and flour from Pacific ports for the week
ending Nov. 12, as received by telegraph, have been as
follows: From San Francisco, Nov, 7, to the United Kingdom, 88,833 bushels ot wheat, Nov. 9, to the Uiited Kingdom, 45,010 bushels of wheat, and Nov. 11, to Japan, 27,000
bbls. of flour 21,(167 bnshelsof wheat.
Combining these figures with those for previous weeks, we
have the following, which covers the exports to foreigni
countries for the period since July 1, 1903, comparison being
made with the corresponding period of 19J2.
Barley,
Wheat,
Corn,
OMs,
Bye,
imports
Hour,

decline in prices for the grain there
sell spring- wheat flour
and at some concessions in values. Buyers, however, have
been slow in operating, their purchases as a rule being limited
Offerings of winter-wheat flour
to ordinary-eized lines only.
have continued comparatively light and they have held
steady at unchanged prices. City mills have been quiet and
Bye flour has had only a email sale and prices have
easier,
been barely maintained. Buckwheat flour has had a limited
sale at steady prices. Corn meal has been quiet and lower.
bush.
bttsh.
tnish.
bush.
bush,
from—
l>bU.
Speculation in wheat for future delivery has been moder- 8an Fran. 413,256
863
92^667
7,398
41.350 5,168.' 00
543,800
130 000
344
7,400 123,000
ately active, but at declining prices. The statistical de- PugetS'd. 554 000
194 OjO
999,000
velopment reported at the opening of the current week had Portland.. 327,700
a depressing iLflaence. Rtfldcting the full movement of the
707
14,793
164,3 SO 5,492.000
Total.. ..l.?91,956 2,469,467
13.000 554.000 5.d20,000 111.280
crop, there was a substantial increase in the visible supply Tot. 1902.1,246,077 9,700,000
statement, and the world's exports to the importing EuroAgbicultueal Department's Repobt.— The Agricultural
pean markets were on a liberal scale. During the
Department's report on the cereal and other crops was Issued
week the cable advices from the European markets
had a depressing influence, as they reported declin- November 10, and is given t)elow
Preliminary returns to the Chief of the Bureau of Statletios of the
ing prices.
Advices received from Argentina relative
to the outlook for the growing wheat crop foreshadowed a Department of Agriculture on the prodiictloa of cirn ia 1903 inlioate
a total yield of about 2,313,000,000 bushels, or an average of 25-8
large yield, and this operated against values. Advices from bushels per acre, as compared with an average yield of 26 8 bmnels
the interior have reported a free movement of the crop, the one year ago, 16-7 bushels In 1901 and a ten-year average of 23*9
receipts at the primary market, toeing in excess of those for bashels.
corn States the
The following table
the same week last year, Mills have been reported free buy- prelloQtnary estimatesshows for the twenty principalbashels, in 190J,
of average yield per acre, fa
ers in the interior cash markets. The demand from export- with the final estimates for 1902 and 1901 and the mean of th«
era has been reported as quiet, their purchases here and at averages for the last ten years

the

has developed moderate pressure to

»

Nov.

THE CHRONICLE.

14, 1903.J

34-3

1902.
Bushels,
38-7

1901.
Bushels.
21-4

Ten- year
average*
Bu^hett.
32-S

270

330

250

313

27-3
26-8
2<»9

32-3
29-9
39-0

141

78

24 2
-"O 2

118

23-6
20-2
26-8
17 2

87-9

19-8

90

100

821

117
23 5

21-9

1P03.

Btuheh,

Slale$—
IlUnolB

Iowa
Nebranha
Kansas
MUsonrl
Texas
Indiana
Georgia
Tennessee
Kentucky
Ohio

10

81

1

10-6
21-4

dress goods for quick delivery, with moderate re-orders for
lightweights for spring. Carpets have opened the spring
season (1904) at a general advance of about 5 per cent on ingrains and other low-grade goods.

Domestic Cotton Goods.—The exports of cotton goods
from this port for the week ending Nov. 9 were 2,928
packages, valued at ^148,366, their destination being to the
points specified in the tables below:

270

14-2
15 6

800
148

38

261
109

330

14-7

North Carolina
Arkansas

13-9
21-3
11-5

12

130

109
232

14-2
19 8

69

91
210

Ureat Britain....^ ..... ...
Other laiopean. ...... .._.
China
India
....... ...... .
Arabia
.—

7 3

19 5
33 1

If rloa
sVeat iBdlea.....

20 9
18-4

Mississippi
Virginia,

218

Sonth Carolina
South Dakota

299

Oklahoma

83'3
31-2

10-3

Pennsylvania

8-4

81

220
104
189

210

SS'S

361

35

268

84 9

17

ft

16-7

I

of

for a

AVERAGE YIELD PER ACRE.
1903.
bushels. 25-8

Com

1902.
2S-8

1901.
16-7

1900.
25-3

Buckwheat. .bushels. 17-7

18'1

186

150

bushels. 84-7
tons. 154
bush. 8'U4
lbs. 786-3

96'0
1-50

65*5
1-28

80-8
1-28

Potatoes

Hay
Flaxseed
Tobacco

7 08

7973

12
4

1908.

—

44

285
668
79

10 472
63,263
8,987

446
25
283
620
472

2,926

... .

1,667
1,144
114 943
12 673
37,459
8.951
24.028
2.579

276,066

2,532

251
1,197

212
174

...

.

.M. .......

.....

—

Total

S4
35

.

1,826
1,068
101,(i92

662

19,976
22,303
10,600
21,144
1.905
8,701
45,167
12,668

247,335

6

The vaine of these New fork exports since Jan. 1 to date
h*8 been 112,583,434 in 1903, against $11,461,853 in 1902.
Some time ago buyers were talking of lower prices for
bleached cottons; now the majority are looking for advances
shortly. The demand has improved somewhat and stocks in
Similar conditions
first hands are small of nearly all grades.
exist in wide sheetings, sheets and pillow cases. There has
been no further business in brown cottons for export. Ttie
recent improvement in the home demand has been maintained and the tendency of prices is against buyers in both
heavy and light-weight goods. For ducks and denims there
Sales of most descriptions
Is a quiet demand at full prices.
of coarse, colored cottons are interfered with by the smallness
of ready fcupplies, and by the reserved attitude of sellers in
connection with forward deliveries; this is particularly
noticeable in the leading grades of tickings. Cotton linings
are quiet but firm. Staple lines of printed calicoes are in
moderate demand, but well under control of sellers, and firm
in price. Fancy calicoes are quiet and unchanged. Oingbams are in limited snpply and very firm in price. Business
has been done in regular print cloths this week at 3J^c. and
that price bid at the close without takers. Odd goods are
very firm, with an upward tendency.
Foreign Dry Goods.— Fine foreign dress goods are in
moderate demand without change in prices. Silks are quiet
the various crops but steadier in tone than of late. Ribbons are dull and irregLinens sell in moderate quantities at full
ular in price.
Burlaps are firmer and against buyers.
prices.
Importattons and Warettoase Wltlidra«vala ot Bry Good*
1899. 1898. 1897.
24-8
23-8
25-3
The importations and warehouse withdrawals of dry goods
17-3
20-9
16-6
this port for the week ending Nov. 13, 1903, and since
88-6
64-7 at
75 2
1-35
1-55
1-43 January 1, 1903, and for the corresponding periods of last
vear are as follows:
S

27-3
32-3
30-0
bush. 327
For.other tables asually slven here see pase l($t}0.
rice

ket factor, the impression prevailing that the help will accept the situation without causing trouble or any interruption to manufacturing. Business in cotton- goods circles has
not shown any decided change this week. The general dispo
sition of buyers is still conservative, but there are some of
the larger houses who are quietly placing contracts for for
ward delivery where they fiod sellers willing to accept at
prices mutually agreeable. There is no business being done
on any lower basis than before, while occasional transactions
show slight advances, the changes thus disclosing a strong
tone and an upward tendency. Production is siill on a reduced scale, and unsold supplies coming forward are limited
enough to be absorbed by the current demand, stocks continuing light in all descriptions. Theie is no change in the condition of the wcolen goods division but a steadier tone is no
ticeable in silks. Reports from t-^e jobbing trade indicate
that distribution is being adversely affected by mild weather.
"Woolen Goods.— The cumber of bnyers in the market
has again been ^matl, but tome increase is noted in the
number of reorders coming to hand. There is no indication
in these, however, of bnyers being willing to purchase on a
more liberal scale than before, small lots only being called for,
It is clear that the clothing trade is still uncertain as to the
outcome of spring business, and unseasonably mild weather
Is said to be hurting business in heavy-weight garments.
Buying has again been confined, to a great extent, to woolen
fabrics, staples and fanci-s, and standard makes of these are
steady in price. Worsteds goods sell slowly but the production of these has been so greatly reduced that it is
questionable if stocks are increasing. Overcoatings are in
sluggish request, and some goods are finding their way into
the auction rooms, particularly kerseys. Cloakings are inactive and irregular in price. There is a quiet demand for

1^

to

o

S
S

B5 5

S

!

1

i

•

•

I

:

I

•

Mile

St
^t
I

l«
'S

o
B
i

>

i

;
J

.

"I
ai

«

S
o

»

S
Z

c*

a

*
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Si

**

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I

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:

I

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3

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i

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i

3

s|S
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2 mMq ^tt
2 2 rKoSB

::©

** .-

York, Friday, P. M., Nov. 13, 1903.
was stated in this column several weeks ago that the
River mills would probably reduce wages. This has

been confirmed by notices posted in all the mills there exoept
M. C. D. Borden's, of a reduction of 10 per cent, to go into
effect Nov. 23.
The trade has hardly regarded this as a mar-

E5

to

New

Fall

1903.
fl.

..
Gentral America
tonth Amerloa.^.^ ..........
...
nherOonntrlea....^

THE DRY GOODS TRADE.
It

Nov.

Wttk MineeJanl. Wtek. Mine* Jan.

Mexico

U

The average indicated yield per acre
number of years is as follows:

Nbw TnsK TO

12-3

23-9
la 83-1 per cent, aa compared with
la estimated that
80-7 last year, 73-7 In 1 90 1 and 855 in 1900.
abont 6-2 per cent of the oi>rn crop of 1912 was still In the hands of
1-9 per cent of the
farmers on November I, 1903. as compared with
crop of 1901 In farmers' hands on November 1, 1902, 4 6 per cent of
the crop of 1900 in farmers' bands on November 1, 1901, and a sixyear average of 6- 1 per cent
The prellmiUiiry estimate of the averatre yield per acre of buckwheat
li 17-7 bushels, against an average yield per acre of 131 bushi-ls In
1908, 18 6 bushels In IPOI. and a ten-year average of 17 6 bushels.
The average for qnalltv Is 914 per cent, against 88'1 last year, 93-3
lnl90l and 9o 2 In 1900. [The Indicated product In 1903 Is 13,63^,000
bushels against 14,529.770 bushels In 1902 ]
The preliminary returns Indicate a flaxseed crop of about 27, 300,000 bushels, or an average of 8'4 bnshels per acre, as compared with
a final estimate of 7 8 bnehels per acre In 1902. The average as to
quality Is 84 9 per cent.
The preliminary esrlmate of the average yield per acre of potatoes
Is 84*7 bushels, against an average yield of 96-0 bnshels In 1902, 63-5
In 1901 and a ten-year average of 79.5 bushels. The averaee as to
quality Is 86-4 per cent, as compared with 90 4 per cent In November
[The inlast. 78-4 In November, 1901. and 88-1 in November, 1900.
dicated product for 1903 Is 847,166,000 bushels, a^alnat 284,632,787
bushels In 1902]
The pre Iminary estimate of the average yield per acre of hay Is 1-S4
tons, against an average yield of IdO tons In 1902, 1*28 tons In 1901
and a ten-year average of -33 tons. The average as to quality Is 9i '3
per cent, against 8^•7 per cent In November last, 91"3 In November.
1901, and 897 in November. 1900. [The Indicated product for 1903
IB 61,51.'>.C00 tons against ^9,857,576 tons In 1902.]
The preliminary estimate of the average yield per acre of tobacco is
7863 pounds, as compared wlih the final estimate of 797-3 pounds in
1902. The average aa to quality Is 85 9 per cent [ The Indicated pr >duct for 1S03 Is 816,139,000 poands against 821,823,963 pounds In
1902.]
The preliminary estimate of the average yield per acre of rough rice
Is S2'7 bnsbe's, against an average yield of 27*3 bushels in 1902, 32-3
bnehels in 1901 and 30 bushels in 1900.

25-8
United States
The general av^rasre as to quality

iV

1885

26-6

Alabama

Rough

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THE CHRONICLE.

1886

St^T£

z^tjb

City Bj:"?/^ptm£NT.

[Vol. Lxxvn.

Canyon County (Idaho) School District No. 10.— Bond
amount of $l,50J, dated O^t.
at par by the State Land

Sa/e. - Ten-year 5^ bonds to the
23, 1903, have been purchased

Board.

Index.
An

index to all the newa matter appearing in this Departfor the period from Jaiy 4. 19i»3, to bept. 26, 1903, inclnsive. was published in the Chronicle of Oot. 8, 1903,
pages 854, 855 and 856.

ment

Bond Proposals and Negotiations thii
week have btion as lolluws
Ada County (Idah)) School

— An issue ot |5,000 5*

:

District N». 19.— Bond Sale.
bonds has been purchased at
tiecnnties are dated Ojt, 18,

'iO-yenr

par by the State Land Board,
1903.

A^ailar, Las Aulnias Conuty, Colo.—Bond Offering.— Pro
posals will be received until 1 p. si., November a3, by Minnie
G-. Weet, Town Clerk, for $8,000 6^ 10-16-year (optional)
water bonds. Date, Jan. 1, 1904. Interest semi-annually at
the office of Town Treasurer. Bids must include accrued inThe town has no present debt. The assessed valuaterest.
tion is |90,CO0 and the actual value |180,000. Certified check
for $5C0 required
Allegheny County (P. 0. Pittsburgh), Pa.— Bond Offering,— FiopijBHls will be received until 12 M., November 18, by
R. J. Cnnningtam, County Comptroller, for $550,000 ii coupon road-improvement bonds. D;rnomination, $1,000. InMaturity, 30 years, subject to call after
terest, semi-annual.
bond with ap20 years. Bonds are free from taxation.
proved security, or certified check payable to the County
Commi?sioners, for $10,000 required with bids. These bonds
were offered as 3^ per ceLta without surcess on October 3.
Baierefleld, Kern County, Cal,— BoTida Fofed.— This city
on October 20 voted to issue $35,000 i% fire-department bonds.
These bonds, we are advised, will probably be advertised for
fale in about thirty days. DenomlLaiion, $1,000. Date, Jan. 1,
1904. Interest semi-annnally at the office of the City Treasurer. Matnritv, |2,000 yearly.
Ba88 Brook Toitntibip, Itasca County, Minn. Bond Sale,
A bid of par atd interest was received November 5 from
Co. for the $5,000 6% gold road and bridge
Albert Kley bolte
bonds described in V. 77, p. 1814.
Bergen County (P. 0. Hackensack), N. J.— BoTid Offering,
—Proposals will be received ii a til 2:30 p. M., December 2, by
the Fmance Committee of the Board of Chosen Freeholders
for |lC0,00O4? coupon bridge bonds. Denomination, $1,000.
Date, Dec. 1, I9u3. Interest, semi-annually at the Hackensack National Bank. Maturity, $10,000 yearly on December
Certified check for 2%% of
1 from 1905 to 1914, inclusive.
bonds bid for, payable to O. S. Trail, County Collector, required. Bonds will be certified to as to genuineness by the
Trust Co., New York City.
United States Mortgage
Betliel, Ohio.— BoTid Hale— On November 8 the $8,000 5^
15-22-year (serial) electric light bonds described in V. 77, p.
Co., Toledo, at 104*106 and
851, were awarded to Spiizer
interest. Following are the bids :
18.828501 Denlson, Prior 4Co., CleveSpiUer 4 Co.. Toledo

A

—

&

&

&

Provldent Say. Bank, Clncin..

8,3'.tJ00l

Lamprecni Broa. Co.. CleTo... bxoaw
B.lauOO
8.A. Kean. Chlca«u

,

land and Boston
$8.125 00
8. Kubn & Sons. Cincinnati.... 8,085 00
h"
n BnauHsOo.
lncin
8,030 00
First Nat. Bank, Betbel
b.OOOOO
i

1

Bollon, Out.— Debenture QString.— John Macdonald, Vil
lage CitTk, 16 offering lor sale $5,OoO 5% 20-year debentures.

Y—Bond

SaLe.—Tao issuance of $'.i5,000 3}4i
bonds dated Nov. 2, 1903, and maturing July 1, 19 J4, has
been authorized for the benefit of the Erroneous Tax Fund.
The bonds are to be taken by the Bailey Avenue Sewer SinkBull'alo, N.

ing

Fund

as an inveptment.

school building bonds. Denomination, $500
Date, Nov. 15,
1908. Interest semi annually in Carlisle. Maturity, 15 years,
subject to call after 5 years. Bonded debt, $1,500; assessed
valuation nearly $500,000.
Cartervllle (Mo.) School District.-Bonds Fo«ed.— This
dietrict on November 3 v( ted to it^sue 523,000 school-building
bonds at not exceeding i}4% interest. These bonds, we are
advised by C. L. Gray, Secretary of the School Board, will
be sold on private terms. Denomination, $500. Maturity,
20 years, subject to call after 10 years.
Cassia County (Idahu) School District No. 7.—Bond Sale,
The State Land Board has purchas-d at par an issue of
$3,000 5% lO-year bonds dated Oct. 13, 19 i3
Cat-tro Vulley School Dlstrirt, Alameda County, Cal.—
Maturity of Bonds.— Yfe are advised tbat tbe $6,000 5^ school
bonds awarded recently to the Bank of Haywards at 105 will
mature $400 yearly on July 15 from 1904 to 1918, inclusive.
Chelsea, Mass.— Borids to be Taken by Striking Fund,
are advised that the $90,000 bonds wbich this city proposes
to issue will be taken by the Sinking Fund Commissioners as
an investment,
Chtckasha, Ind. Ter.— Bonds .Approved —The Secretary of
the Interior has approved the issuance of the $75,000 water
and the $18,000 sewer bonds voted at the election held last

—

—We

September.
ChJllicothe, Ohio.— Bond Sate.— The Sinking Fund Trushave purchased $4,400 6% Walnut Street improvement
bonds, dated Nov. 10, 1903.
Cook County (P. 0. ihicago), III.- -Bids.— Following are
the bids received November 5 for the $625,000 4% gold bonds
awarded, as stated last week, to Farson, Leach
Co.,
tees

&

Chicago.
Farson. Leacb & Co., Chic. .1681.718 76
Western Trust & Bav. Bank. 625,5V!/ 00

First Nat.

Bank, N. W. Harris

A Co. and Merchants' Loan
Trust Co.,

Coquille, Ore.— Bond

(

hicago

&
$629,027

—This town has

sold at par to
local investors an issue of $20,000
water boiids, of which
amount the First National Bank of Coquille purchastd $18,Date of bonds, Oct. 1, 1903. Interest, semi annual.
500.
Maturity, 30 years, subject to call at any time.
Cuyahoga County (P. 0. Cleveland), Ohio.— Bonds Defeated.— The proposition to iseue $250,000 memorial building
bonds failed to carry at the election November 3.
6'aie

H

Delaware County (P.O. Delaware), Ohio.— Bond

On November

Sate.

10 the $46 600 5% road bonds described in V. 77,
Son, Chagrin Falls, at
p. 1555, were awarded to Rogers
101-545 and interest.
De Soto, Mo.— Bond Ojfen'ngi.— Proposals will be received
until December 10 by E, J. Mahoney, City Clerk, for $70,000
i% 5-20-year water-works-cotstructio bonds.
£lTa(Man.) School District —/<ond Sate,— On October 30
this district awarded an ietue of $3,000 6% 1 20 year (serial)
school bonds to the Canada Life Assurance Co. of Toronto
for $3,004 50.
Denomination, $150. Date, Dec. 1, 1903. In-

&

terest, annual.

Everett, Mass.

awarded on Nov.

Bond Sale.— Tbe

following loans were
Boston, at 102'44 :

& Co.,

2 to Blake Bros.

U

1-10- year (serial) notes of 11,630 each.
116.500
10,000 it l-lO-vear (serial) notes of *l,0(iOeuch.
l3,»28 4« 1-20-year (serial) noteH, eighteen f tlOO each and two of $664 each.
26,000 i% 1-20-year (seriHl) notes of tl.250 each.
60,072 4% l-i!0-year (serial) notea. nineteea ot t j.SOO each and one for 13,372.
<

Interest semi-annually

by check.

Notes are dated Nov.

2,

1903.

Fisbklll Landlug, N. Y.—Bond Offering.— Thia village
will sell at public auction at 3 p. m
November 17, $40,000
water bonds. Denomination, $800. Date, Nov. 1, 1903. Interest semi-annually at the First National Bank of Fishkill
Landing, Maturity, $1,600 yearly on November 1 from 1905
to 1929, inclusive. Bids to state what rate of interest the bidder will take the bonds at par, the rate of interest being limCertified check for $2,000, payable to the village
ited to 5%.
of Fishkill Landirg, required of ea^ h bidder. Total debt of
villHge, including this i^sue, $186,000.
Assessed valuation,
$1,625 000. In Chapter 414. Liws of 1897, will be tound the
authority for the is^^uance of these bonds
Ford City, Pa.-Bonda Voted.— By a vote of 169 to 30, this
borough on November 8 authorized the issuance ot $85,000
.

Marshall), Mich.- Bond Offering.
— Proposals will be received until 12 M,, December 16, by
Irwin A. Doolirtle, County Tieasurer, for |20,000 4$ poorhouse bonds. Denomination, $1,000. Date, April 1, 1904.
Interest semi annually on January 1 and July 1 at the Firi-t
Maturity, $5,000 yearly on
National Bank of Marehall.
April 1 frcm 1905 to l9i 8, inclusive. Certified check for S5:J0
required. The county has ro bonded debt.
Assessed valuaThe vote at the election aution, as equalized, $88,850,755.
thorizing thete bonds was 5 «67 for and 2,234 against.
Cambridge, Ohio.— Bjd. The highest bid received November 9 for the $16,000 i%% 2iJ-year water-extension bonds
deeonb^d in V. 77, p. 1315, was 102-758.
Canada.— iie/'undtng Loan.— The Deputy Minister of Finance tends us the following relative to the 4 per cent
Dominion of Canada currency loan of 1883, which
" The above loan," the
matured November 1, 1903
Minister writes, "consisting of bonds and stock to the
amount (on 30th June last) of $2,832,000, matured, as stated,
on the 1st instant. Practically the whole of the loan was
held in Canada. The Government of the Dominion gave to
the holders thereof the option of redemption or an extension
for ten years at the reduced rate of 8]^i per annum. The
larger proportion ot the holders elected to take the extension.
Over $1,0 0,000, however, was redeemed, and to make up this
amount the Department of Finance Is issuing at par stock at
814% interest, payable half yearly on Ist May and 1st November. The stock falls due lf>t November, 1913, and is payable
in Ottawa and is transferable in the books of this depart
ment."

Calhoan Coanty (P.

Carlisle (Ky.) Wraded Common School District No, 2(>.—
Bond Uffertng. — Propos>*ls will be received until 11 A M.,
November 25, by S. K. Veech, Chairman, for $15,000 Ai

O.

:

wa^er- works bonds.
FoHston, Polk County, Minn.— Band Sate. — On October 28
the $3,000 6$ bonds (two issuee) described In V. 77, p. 990,
wern awarded to the First National Bank of Fosston at
100 706.

Freestone County, Texas.- Bonds Registered.— The State
Comptroller on Novemoer 6 registered an issue of $1,5C0 5%
5-15-year (optional) bridge repair bonds dated Aug. 14, 1903.
Detcription of Bonds. We are advised that
(;llrard, Kan.
the $10,000 6!« oil and gas bonds and the $2 ',000 6^ electricli.|ht-plant bonds which we stated last week had been sold
were disposed of through John Nuveen & Co. of Chicago at
par. Denomination, $1,000.
Date. Oct. 1, 1903. Interest,
semi-annual. Maturity. Oct. 1, 1933, subject to Call, the
electric light issue $10>00() on Oct. 1, liil8, and the gas issue
$5,000 on Oct. 1, 1908, and $5,000 on Oct. 1, 1913.
(]}nilford County (P 0. Wreeusboro), N. V.—Bond Sale,—
The $50,000 b% highway-improvement bonds offered but not

—

—

:

Kov.

—

:

—

THE CHRONICLE.

14. ll)03.|

&

1887

Maroa, 111.— Bond Sale,— It is stated that an issue of $4,050
water bonds has been sold to Geo. Conover of Maroa at

Mayer
sold on Oct. 5 have been difpoeed of to Seasongood
Cincinnati, at 105. See V. 77, p. 78», for deecription of

8*

bonds.

97-50.

Hamilton (Ohio) School District.— Bond Sale— The highest bid received November 6 for the |20,000 4% bonds described in V. 77, p. 1555, was that of Seasongood & Mayer,
Cincinnati, at 100'40.

Matteawan, N. ¥.— Bond Safe.— On November 10 the $105,000 1-30-year (serial) water bonds described in V. 77, p. 1762,
were awarded to the Matteawan Savings Bank at par for
3"99^ bonds. The following bids were received
Matteawan Sav. Bank, par forSOBs.
W. J. Hayes A Sons, par for 4-10».
Utinaden A lllchmoiKl, par for 4-70s.
N. W. Uarrl.H & Co., par for 4».
:

Hartrord, Conn.— Temporarj/ Loan.—The City Treasurer
has arracged to borrow temporarily from a local institution
the snm of |300,000 for bridge purposes.
Helenn, JHotd.- Boyids Not Sold-The $614,000 5^ water
bonds offered on. October 29 were not awarded. See V. 77,

I

& Kobinnon, p»r for 4'1 9.
Karaou, Loacli & Co.. par for 4'18g.
Walter St*uton & Co., par for 4"2»s.
Dick

•

I
I

K.

Seyuiour

.t

Co.. par for 4 768.

Domlnlok & Uomluiok, par for

4'80i.

I

Mlamlsbarg, Ohio.— Bonds Fofed,— This place has voted
bonds for water- works purposes.
Middlesex Connty (P. 0. London), Ont.— Debenture OfferKenton, 0U»».- Bant Saie.—On November 10 the 124,000
ing —Proposals will be received until 3 p. m., Dtcomber 7, by
5$ refunriiDg bonds described in V. 77, v. 1252, were awarded
to the Kenton Savings Bank at 101-27. Followitg are the A. M. McEvoy, Treasurer, for $38,000 4% gold consolidated
debt debentures. Interest will be payable June 9 and Dec. 9
bids
and the principal will mature Deo. 9, 1923.
124,305 Now"l8t Nat. B'k. CoI>imbn»....$24.25n
SaTlnea Bank
Kenton
Mllford t'enler, Ohio.— Bond OJ'eringr— Proposals will be
84.U0T
CUySav. Bk. & Tr. Co. .Alliance. 2i.^i0 VV. J. Hares & Buna, Cleve
24,303
FIratNat. Bank, Kenton
received until 12 m., December 21, by E. R. Hathaway, VilEight additional bids were received from parties rot com- lage Clerk, for $9,500 6^ refunding bonds. Denomination,
plying witb the terms of tbe advertisement, and these bids four bonds of *250 and seventeen ot $500. Date, Nov. 1, 1908.
Maturity, $250 yearly on November
were not considerea.
Interest, semi-annual.
Klickitat County (Wash.) School District No, 19.— BW« 1 from 1904 to 1907, inclusive, and $500 on November 1 from
Not Opened.— We are advised by the County Treasurer that, 1908 to 1924, inclusive. Certified cbeck for 10^ of bonds bid
owing to the non- appearance of the School Directors, the for, payable to the Village Treasurer, required.
bids received October 31 for the $1,800 bonds were not
Minneapolis, Minn.- Bond Cl^eHwg.— Sealed proposals and
opened.
popular subscriptions will be received uutil 2 P. M., DecemKingstOD, N. Y.— Temporary Loan.— This city on Novem- ber 2, by Joshua Rogers, City Comptroller, for $50,COO 4%
ber 9 negotiated a temporary loan for $4,059 50 at i% interest armory bonds. Denominations, $50, $100, $500 and $1,000.
with the Ulster County Savings Institution. Loan matures Date, Oct. 1, 1903. Interest semi-annually at the city's fij'cal
agency in New York City. Maturity, Oct. 1,1933. Certified
May 1. 1904.
La Crosse, Wis.— Bond Sale.— The $26,000 street-Improve- check on a national bank for 2% of the par value of bonds bid
ment bonds offered as 58 on October 19 without success have for, payable to C. S. Hulbert, City Treasurer, required.
been sold as 6s to local investors at par. Denomination,
Mornington, Ont.— Debenture Offering. — Proposals will be
Date, Oct. 20, 1903. Interest, semi-annual. Matu- received until December 14 by John Watson, Clerk (P. O.
|1,300.
p. 862, lor description of bonds.

rity, $2,600 yearly.

Lake Charles, La.— Bond Election Proposed.—The City
Council is cocsidering the question of calling an election to
vote on tbe issuance of bonds for permanent improvementa.
Lake View School District, Sauta Barbara County, Cal.
—Bond Ataie.-On Nov'mber 2 $1,000 7% school bonds, dated

were awarded to H, C. Rogers of Pasadena at
Denomination, $200. Interest, annual. Maturity,
$200 on October 5 of the years 1905, 1907, 1909, 1911 and
Oct.

5,

1903,

100'50.

1918.

Lakewood, Ohio.— Bond Q^erwgr.— Proposals will be received until 12 M December 7, by Henry J. Sensel, Village
Clerk, for $5,811 40 H l-lO year (serial) Cook Avenue improvement bonde. Denomination, $581 14. Date, Oct. 30,
1903,
Interest, sf mi-annually. Certified check for lOjf on
some bank in Lakewood or in Cleveland, payable to the Village Treasurer, n quired with bids, Accrued interest to be
,

in favor of issuing

Burns), for $1,680 65 4% drainage debentures, payable part
yearly for ten years.
Nashwank, Itui^ca Connty, Minn.— Bond O^eringf.- Proposals will be received until 8 p. M,, December 7, by Paul H.
gold bonds. DenomTvedt, Village Recorder, for $25,000
ination, $1,000. Date, Dec. 1, 19u3. Interest semi-annually
at the Nashwank State Bank. Maturity, Dec. 1, 1923. Certified check tor $1,000, payable to the Village Treasurer
without condition, required.
Newark, Ohio. Bond Offering, Proposals will be received until 12 M., November 30, by the Clerk of the City
Couucil, for the following bonds :

H

—

$2a,200 i% Cedar Street assessnoent bonds. Denomination, $1,000, except one
bond for $200. Matoritv, »2,0i yearly on March 1 from 19w5 lo 1911,
iTiclufive; * 1,000 on March 1 in the years 1«12 and 1913, and $2,200
aiarob 1. i9l4.
6.666 4% North Kourtn Street assessment bonds. Denomination. ?1,000, exon March 1 uf the years
cept one oonrt for »'-tiu. Maturity, 1*1,0
1HI15, 190" and ihij7; »2,0ti0 March 1. 1008, and Jl.fiOO March 1, 19 'k-.
1,400 4% Woods Avenue assessment bonds. Maturity, one bona for $1,000
Maroii 1. iH' w, and one Dond lor $4i'0 March 1, 1909.
10,3C8 i% Elmwood Avenue assessment bonds. Uen'^mtnatlon, $1,000, except
one bond tor tao8. Maturity. (fl.OOo ^esrly ou March 1 from 19Ua to

paid by purcbaser.
Lansing, Mich. Bend Offering.— hocaA papers state that
proposals will be received until November 16 for $10,000 4%%
1-5-year (serial) street-improvement brinds, dated Dec. 1, 1903.
Laramie Coant?, Wyo.— iVo Bond Election Held.—
are
advised that the report in soma papers that this county was
to vote on November 3 on the question of issuing $40,000
court-house bonds was incorrect.
Lawrence County (P. 0. Deadwood), S. Dak.— Bond
Issue.— Vfe are advised that the bid of F. L. Fuller & Co. of
Cleveland (based on a 20-year bond without option) for tlie
$30,000 5% refunding and the $20.0C0 5^ redemptionjbonds described in V. 77, p. 1252, was ac epted by the County Commissioners provided the firm would take 20-year bonds with
a 10-year option. No reply being received, the Commissioners decided to sell the bonds to local people at par. Oar informant states that over one-half of the bonds was disposed
of within 48 hours, and that there is no doubt but that the
balance will be placed witbin a few days.
Lewis County (P. 0. Chehalls), Wash.- Bond O^ertngr.—
Proposals will be received until 9 a. ir., November 21, by the
Board of County Commissioners, for $10,000 10 20 year (optional) refunding bonds.
Denominations not less than $100
nor more than $1,000. Interest (rate to be named in bid)
will be payable semi-annually it the office of the County
Treasurer. A. Schooley is County Auditor.
Lexington, Ky.— Bond Sa/e.— Seasongood
Mayer, Cincinnati, bave been awarded the $38,000 i% 2C-year park
bonds described in V. 77, p. 414. The price paid was $38,275

$1,000.

10, 1908.

of

We

&

im3, inclusive, aud »i,3 8 on March 1. 1914.
Hoover Street assessment bonds. Denominations, three for $1,000
Maturity. $l,0Ou on March! of the years
each and one for M2
19 (J. 19u7 and 1908 and $4-.i7 March 1. 1»09.
8,000 4% smallDOx bonds. Maturity, one bond for $1,000 on October 1 of the
years 1905, 1908 and 1911.
S.427

4i{

.

Securities are all dated Oct. 1, 1908. Interest, semi annuaL
interest to be paid by purchaser. Certified check
for 10% of bonds bid for, payable to the City Treasurer, required. Frank T. Maurath is City Auditor.
Newbnrjport, Mass. Bond Sale, This city has sold at
private sale an issue of $50,000 3i^^ coupon high-school bonds

Accrued

—

toN.
Dec.

Harris & Co., New York, at par. Denomination,
Date, Dec. 1, 1903, Interest, semi-annual. Maturity,

W.
1,

1923.

City.— Bond Q^ering.— Proposals will be received until 2 p. M., Nov. 19, 1903, by Edward M. Grout,
City Comptroller, for $7,500,000 d^% gold corporate stock,

New York

as follows
stock for construction of Rapid Transit Railroad. Maturity. Nov.
This will make »33,««(<.000 of suc'i bonds issued to date.
1,500,000 3H% stock for Department ot Docks and Ferries. Maturity, Nov. 1.

$2,000,000

3}ii%
1,

1953.

1953.

for Department of Docks and Ferries, Maturity, Nov.
1951.
1,600,000 3H% stock for bridse over East River. Maturity, Nov. 1, 1953.
1,000,000 3>s% stock for school houses and sites. Maturity. Nov. ], 19o:<.
1,000.000 3^% stock for street and park openings. Maturity, Nov. 1. 1958.
500,000

3H* stock

1,

All the above bonds are exempt from taxation except for
State purposes. Interest will be payable May 1 and Nov. 1.
and interest.
Limestone Connty, Texas.— Bond Sate.— The State Perma- Either money or a certified check drawn to the order of the
nent School Fund has purchased at par an issue of $20,000 City Comptroller upon one of the State or national banks
i% 10-40-year (optional) road and bridge bonds, dated August
the stock bid

Lockport, N. f.—Bond Sale.— On November 11 $2,000 4^
water bonds were awarded to Jonathan Riley at 100 40. D^nomniation, $400. Date, Nov. 11, 1903. Interest, Januaiy
and July. Maturity, $400 yearly on January 1 from 1904 to
1908, inclusive.

Lorain (Ohio) School District.— Bonds Voted-Bond Offering.— The proposition to lesue $75,000 5% gold school bonds
carried at the election held recently. Proposals for these
bonds will be received until Jan. 2, 1904, by E. E. Hopkins,
Clerk of the Board of Ednca»^ion.
Maricopa Connty (Ariz.) School District No. 16.— Bond
Sole.— This district on October 26 sold an issue of $3,000 7^
20-year school-house bonds dated Sept. 28, 1903, to P. W.
Butler of Ptoeoix for §4,22^. Denomination, $500. Interest,
annual,

New York

City for 2% of the par value of

must accompany proposals.
The condition that the bidder will accept only the whole
amount of the stock bid for by him and not any part thereof is
contrary to the provisions of the City Charter, and such bids
must be rejected. Under the City Charter bonds may b©
for

issued in denominations of $10 or any multiple thereof.
The official notice of this bond o^ering will be found among
the adverti8eme7it8 elsewhere in this Department.

Norwalk, Ohio.— Bond Sale8,-The Sinking Fund Commissioners have taken at par the $3 000 5% sidewalk bonds offered
hut not sold on October 10. These bonds were described in
V. 77, p. 789. The Sinking Fond Trustees have also purchased at par $3,600 5% street-paving bonds, dated Oct. 1,

THE CHRONICLE

1888

New

of J360 yearly on July 1 from
Interest, semi-annual.
Norwood, Ohio.— Bond Offering.— Fropos&ls will be received until 13 M., December 2, by W. E. Wichgar, City
Auditor, at the office of J. A. Stewart, Room 813 Traction
Building, Cinoinnati, for $12,195 6< 1 lOyear (serial) Sherman Avenue improvement bonds, dated Nov. 4, 1903. Certified check for 5* of the gross amount of the bonds, payable
1908,

certified check on some Saginaw bank or else
York
draft for 2% of the par value of the bonds bid for, payable to
the Treasurer of the Board of Elucation, required.
St. Francois Conity, Mo.— Bond* Defeated.— The proposition to issue $200,000 4« road bonds failed to carry at the

and maturing one bond

1904 to 1913, inclusive.

election held

Okmalgee, Ind. Ter.—Bon'is JVbf SoW.— No satisfactory
bids were received Noveraoer 9 for tbe $38,000 5^ water and
the $15,000
sewer bonds described ia V. 77, p. 1556, The
bonis, we are advised, will now be offered at private sale.
Oregon City, Ord.— Bond Sate —This city has sold at par
10 D. C. Latonrette, President of the Commercial Bank of
Oregon City, an Issue of |'3,637 58 6^ sewer-improvement

m

bonds

Fima Coanty

(Ariz.) School District Ho. 1.— Bond Offer-

— Proposals will be received until 18 m., November 21, by

J. W. Bogan, County Treasurer, at his office in Tucson, for
$15,000 gold bonds. Denomination, $500. Date, Jan. 1, 1904.
Interest (rate to be named in bids) will be payable annually
at the office of the County Treasurer. Maturity, 20 years,
subject to call |1,500 yearly, beginning the eleventh year
after issue. Bonds to be sold at par and interest to the person offering the lowest rate of interest. Certified check for
$300 reauired. These bonds were offered but not sold on

July

0. Greene agtle), lad.— Bond Sale.—
on November 4 an issue of $110,000 4^ court-

&

Co. of Indian-

apolis.

Rochester, N. Y.— Temporary Loan.— This city recently
negotiated an eight-months' loan of $260,000 at 4'45^ discount.
Saginaw (Mich.) East Side School District.— Bond 0/ertny.— Proposals will be received until 5 p. m., November 18,
by Wm. C. Klnmpp, Secretary Board of Education, for $40,000 4? school bonds. D.-nomination, $1,000. Date, Nov. 2,
1903.
Interest semi-annually at the office of the District
Treasurer. Maturity yearly on November 2, $5,000 from
19J5 to 1908. inclusive, and $4,000 from 1909 to 1913, inclusEither
ive. Accrued interest is to be paid by purchaser.

NEW

3.

&

&

Futnam County (P.

house bonds was awarded to E. B. Bush

C—

H

21.

It is stated that

November

Sdlisbnry, N.
Bid* i?e/ected.— No satisfactory bids were
received O>^tober 29 for the $90,000 6« 30-year street-improvement bonds described in V. 77, p 791.
San Diego Coanty, Cal— M) Bond Issue at Present,—Vfe
are advised that consideration of the proposition to issue
$200,000 road-improvement bonds has been tabled for the
time being.
Saskatoon Public School District No 13, N. W. T.—Bond
Saie.— This district has sold an issue of $14,000 6^ school
bonds to the National Trust Co., Ltd., of Winnipeg, for
Denomination, $700. Interest payable at the Bank
$14,800.
of Saskatoon, Maturity, one bond yearly.
Sberaden School District, Allegheny County, Pa.— Bond
Sale,— This district has sold to Lawrence Barnum
Co.,
New York, the $35,000 30 year funding bonds offered but
not sold on September 8. The price paid was $36,025. See
V. 77, p. 366, for description of bonds.
South Omaha, Neb.— Bid Rfjected.— Only one bid was received November 9 for $21,000 6^ refunding bonds, and as
this bid was for 6 per cents, it was rejected. The bid was
from Spitzer
Co. of Toledo.
Strathers, Ohio.— Bond 0#eringf.— Proposals will be received until 12 M., December 6, by Andrew R. Black, Village
Clerk, for $5,000 6jf street improvement bonds. Authority,
Section 2836, Revised Statutes of Ohio. Denomination, $500.
Date, Dec. 7, 1903. Interest, annual. Maturity, $500 yearly
on Dec-^mber 7 from 1904 to 1913, inclusive.
Swissvale, Fa.— Bids Be/ecfed.— All bids received Novem»
ber 7 for the $10,000 i% sewer bonds described in V. 77, p.

to the City Auditor, required.

ing.

[Vol. LxxviL

1556,

were rejected.

Tampa, Fla.— Bond Election Proposed.— The City Council
Special Committee on Improvements and the Board of Public Works recommend an election to vote on the question of
issuing $315,000 street-paving, sewer and public improvement, $15,000 garbage crematory, $10,000 hospital and $i0,000
funding bonds.

NEW

LOANS.

LOANS.

S309,000
CITY OF ATLANTA,
GOLD BONDS.

$7,500,000

The

GA.,

City of Atlanta, Ga.. offers for sale $389,000 00

Hedemption Gold Bonds, denoiulnatlon
coupons July and Janaar.T payable In New
York and Ailaota. Interest 4 per cent. Bonds to bo
dated January 1. I9u4, free from city tax. Bids to be
opened December 1, at I'i m.. or the Finance Committee. Bids can be made for all or any part of said
bonds, ana must be Hccompanied by a certified check
for Ave per cent of tbe par value of the amount bid
for. Successful bidders t'l pay for bunds allotted
them Decemb>-r 30, 1903. Any further information
cheerfully given. Address bids to
J. H. GO' DSMITH,
Cit5 Comptroller, Atlanta, Ga.
30-vear
$1,(00,

NEWYORK CITY 3^95
Tax Exempt Gold Bonds
(Payable

in Fifty

Investment bonds
OF

Years)

IHaiilclpalltles,

TO BE SOLD THURSDAY, NOVEMBER

19,

1903

and

Railroads

Corporation!,

Suitable for SavinKS Banks, Estates, Trust
Fnnds and oonservatiye private inyeston.

Write for Circviar.

OFFERED DIRECT TO INVESTORS

MASON, LEWIS & OO.
BANKERS.
Boston.

A

investment for trust funds, exempt from
taxation except for State purposes. No "all or none"
bids received, thus giving investors the same advantages as dealers. Bonds are awarded to bidders
legal

MUNICIPAL AND

OF PAR

TWO PER

CENT.
la a sealed envelope, enclosed In the addressed envelope.
BID. It must be In cash or certified check on Slate or National bank
This deposit will, U requested, be returned day of sale to unauccesslul bidders.
York City.
York.
tullar Information see "City Record," published at 2 City Hall.

Send bidi

New

New

Conanlt any Banlc er Trust Company, or address

EDWARD

M. GROUT, Comptroller City of

New York

171

La Salle

CORPORATION

INVESTMENT BONDS.
LIST.

OENISON, PRIOR & CO.
BOSTON.

CLEVELAND.

Blodget, Merritt
E. C.
I2f

Stanwood &

Co.,

BANKERS.
Devonshire Street,

BOSTON.

Co.,

Street, caicago.

SEND FOR

New York

280 Broadway,

MUNICIPAL BONDS.

&

BONDS.

VALUE MUST ACCOMPANY
r*r

Pblladelpbla.

MaoDonaid, McCoy

offering the highest premium.

«(

Oblcago.

TV

Q
UO

T T-N

V^
B/^ i N
Handsomely

AND STOCK
CERTIFICATES

euKraved, or in cheaper style, partly
printed from tyue (not cheap lookini;). Send for
and estimate. lOO certlflcatea $3 to $25.
ssmples
Seal press, $1 50. Quick work.

ALBERT

B.

103 William Street.

KINO &
•

-

CO.,

Neve Yorli.

&

Co.,

BANKERS
16 Cono^ress Street, Boston.
36 NASSAU STREET, NEW YORK.

STATE. CITT

ft

RAILROAD BONDS.

—

1

Nov.

THE CHRONICLE.

14, 1903.

Troj, N.Y.— Bond Sa/e.- On November 10 $5,500 4i 120year (serial) public-improvement bonds, dated Aug. 1, 19it3.
were awarded to QrO. M. Habn. N«w York City, at 100-67
and interest. DecominattoD, 1275. Interest, semi- ancutl.
Tarlock Irrlgatiou District, Cul.-5ond« Abe Yet Sold.—
No disposition has yet be^n made ot the |30,600 Q% Irrigation
bonds offered but not sold on September 1.
Upper Snudufky, Ohio.— Bond* Fofed.— This place on
Novt-mber 3 vottd to ispoe bonds for street paving.
Urhaua, Ohio.— ( erUticatea 8o/(i.— This city has sold |7,000
ceriificatefl of indebtedcoss, $6,000 to the Sinking Faad
Trustees and $1,000 to the National Bank of tJrbans.
Venice, 111.— Bond Sa/e.- On November 6 the !f30,0f0 5«
20-year street improvement bonds described In V. 77, p. 1317,
were awarded to VV. J. Hayes & Sons, Cleveland, at 103'17
and interest. St-curities are dated Sept. 1, 1903.
Viulta, lad. Ter.— Bond Offering. Proposals will be received until 6 r m., November 28, by J. D. Davenport, Mayor,
for $65,000 5i water and $'20,000 ^% eewer bonds. DenominaDate, Dec. 1, 1903. Interest semi-annually in
tion, $1,000.
New York City. Maturity, Dec. 1, 1923, A 2% deposit required with bids. The present bonded debt of the town is
The assessed valuation is $1,149,726,
112,000.
Wapakoncta. OUIo.— Bond O^erinflf.— Proposals will be received until 12 M,, December 7, by Charles E. Fisher, Village
Clerk, for $1,800 5» sewer district No. 3 bonds. Denomination, $360.
Date, Dae. 1. 1903. Interest, semiannual. Maturity, $360 yearly on July 1 from 1904 to 1908, inclusive.
Cash deposit of §100 required with bids.
Warreu Towushp, Jllch— Bond« Fo^ed,— This township
on November 8 voted to issue $35,000 atone-road bonds.
Wangeon, Oh\o.— Bond Sale.— On. November 9 the $5,800
^% 1-10-year (serial) debt-extension bonds described in V. 77,
p. 1556, were awarded to the Dresden National Bank at
103-172
Following are the bids

West Carroliton,
it is

|6.926ro
.

Wllkos County (P. 0. Washington), ^a.— Bonds Not Sold.

received November 4 for the $40,000 4% court-house bonds described in V. 77, p. 1254.
Winneshiek County, Iowa.— Bonds Foied.— This county
has voted to issue $50,000 court-house bonds. No details of
this issue have as yet been determined.
Woodward, Okla. Ten— Bond O/ertnflr.— Proposals will be
received until 12 M,, December 1, by Peter Martinson, Town
Treasurer, for $50,000 6i 10-80 year (optional) water- works
bonds. Interest semi-annual. Certified check for |1,000 reqnired.
Xenia (Ohio) School District.— Bond O^ertngf.— Proposals
will be received until 12 m, November 30, by B. Schleeinger,
Clerk Board of Education, for $20,000 i^% bonds. DenomInterest semiannually at
ination, $500. Date, Dec. 1, 1903.
the Citizens' National Bank of Xenia. Maturity, $2,000
each six months from July 1, 1925, to Jan. 1, 1930, iaclnslve.

YoungstowD, Ohio. Bonds Authorized.-The City Counon November 2 passed an ordinance providing for the

.

Provident Sav. Bank, Cinclu..t5,S53 36
Lampreolit Bros. Co., Cleve.. 6,830 74

cil

issuance of $45,500

.

Ohio.— Bond

&

Rudolph Kleybolte&Co.
BANKERS,
DBAI.KRS IK

MUNICIPAL, RAILROAD and

STREET RAILWAY

ORWAMZEO

NASSAU STREET, NEW YOEK.
Depositt>

Premiums

Losses paid durinf? the year -which were estimated
in 1»<H and iirevlous years
$288,529(3
Liosses occuired, esilmated and paid in 1902
1,258,611 19

$1,547,140 82

Less Salvages
Re-insurduces

AND

Service

E.H.ROLLINS & SONS,

202,201 64
$1,344,939 18

The Company has the following Assets, viz.:
United States and state of New York (^tock; City, Bank and other Securities
$5,391,199 00
Loans secured by Collateral, and special deposits in Banks and Trust Company 1,497,088 76
Real Estate corner Wall and William streets, cost
$2,657,000
Advanced on account of Real Estate and Lien held thereon
300,000
Other Real Estate and Claims due the Company
75,000 3,032,000 00

Premium Notes and

BOSTO]W.
Chicago.

$118,295 96
83.905 68

Returns of Premiums and Expenses, $477,850 08

Corporation

BONDS.

Denver.

$4.0S4 931 29'

from 1st January, 1902, to 31st December, 1902
$3,284,527 73
Interest received during the year
$293,165 92
"
"
"
Rent
less Taxes
122,523 04
$415,688 96
off

MUNICIPAL
Public

lS4'i.

New York, January 20th, 1903.
Tht Trustees, in Oonfonftiiy with the Charter of the Compamj, submit the foUowiny siattmeni of
its affairs on thejisl of Decemii r, jgozi
PremitHDS on Marine Risks from Is-t January, 1902, to Slat December, 1902... $3,293,079 76
Premiums on Policies not marked off let January, 1902
791,851 53^
Premiums mart ed

Time

Denominations,

ATLANTIC MUTUAL INSURANCE COMPANY.

Total Marine

BONDS.
Interest Paid on Daily and

bonds.

INSURANCE.

INVESTMENTS.

1

i^% refunding

forty of $1,000 each and eleven of $500 each. Date, Nov. 20,
Interest, April 1 and October 1 at the ofiBce of the City
1903,
Treasurer, Maturity, $2,000 yearly on Ootobt r 1 from 1905
to 1913, icchisive, and $2,500 yearly on October 1 from 1914
to 1924, inclusive.

6'ate.— This city has sold at par to
SeaeoLgood
Mayer, Cincinnati, |25,000 i%% refunding
bonds, Decomination, $500, Date, Oct. 1, 1903. Interest,
semi-annual. Maturity, $3,500 yearly on October 1 from
1918 to 1927. inclnsive.

WellsTille,

,4M</iori3ed.— This place,

— No acceptable bids were

:

Flr«t Nat. IJk. HHrnesvllle.... 5,^01 00
Keder. Holiman Jt Co., CIn.
6,S87 00

Ohio— Bonds

stated, will ifeue $7,000 sewerage-system bonds.

West Sprlngfleld, Mass.— Bond O^erzng.— Proposals will
be received until 3 p, M to-day (Nov. 14), by the Town Selectmen, care of F. H. Sibley, Town Treasurer, for $35,000 i%
30-vear coupon gold refnnding bonds.
Wbatcom Conuty (Wash ) School District No. 17.— Bond
Sale.—Otx October 31 $6,000 \%% refunding and building
bonds were awarded to the State of Washington at par. Denomination, $1,000. Date, Oct. 31, 1903. Interest, annual.
Maturity, ten years, subject to call after one jear.
Whatcom County (Wash.) School District No. 35.— Bond
8ale,—0\i October 31 $1,200 i%i building bonds of this district were awarded to the State of Washington at par.
Denomination, $600. Date, Oct. 31, 1908. Interest, annual.
Matnrity, ten years, subject to call after one year.

—

Dresden National Bank

1889

Bill

Receivable

Cash in the hands of European Bankers to pay losses under

1,058,489 37
policies

payable in

foreign countries

188,675 59
262,607 84

San Francisco. Cash in Bank

Amount.

fARSON,

LEAOH &

00..

Public Securities,
CHICABU.

MEW

YORK..

Six per cent interest on the outstanding certificates of profits will be paid to the holders
thereof, or their legal rt^presentatlves, on and after Tuesday, the third of February next.
The outstanding certificates of the issue of 1897 will be redeemed and paid to the holders
thereof, or their legal representatives, on and after Tuesday, the third 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 ot Forty per cent is declared on the net earned preinlums of the Company
for the year ending Slst December. 1902, for which certificates wiU be issued on and alter
Tuesday, the fifth ot May next.
By order of the Board.

B08T0II.

G.

PHILADEJLFHIA.

Bonirht and Hold.

MARTIN, Topeka, Kan

Atlantic nintaal Inaarance Company Serif
of All Year* BooKht and Sold.

JOHN M. GILLESPIE,
Boom

No. 513.AtlantiG Bailding,

49-51 Wall Street,

NEW

STANTON FLO YB- JONES,

SecretaTF.

TRUSTEES.

Kansas Municipal Bonds
D. H.

.$11,430,060 56

YORJs

GOSTAV AMSJNCK.
W. H. H. MOORE,
EWALO FLBITMANN,
JOHN N. BEACH.
LEVI P. MORTON.
CLEMENT A. GKISCOM,
FRANCIS M. BACON,
HENRY PARISH,
ANSON W. HARD,
WILLIaM H. BOULTON.
FKEDEKIC A. PARSONSJOHN D. HEWLETT,
VEKNON H. 3KOWN,
DALLAS B. PRATT,
LEWIS CASS LEDVARD,
WALDRON P. BROWN.
GEORGE W. QL'INTARDt
FRANCIS H. LEGGETT,
JOSEPH H. e HAPM AN,
CHARLES n. LEVERICH,
A. A. RAVEN.
GEORGE C. CLARK.
JOHN L. HIKER,
LEANDER N. LOVELL.
JAMES O. DE FOREST,
DOUGLAS ROBINSON,
GEORGE H. MACY,
WILIJAM E. DODGE,
GUST A V H. SCHWAB.
CHARLES H. MARSHALL.
CORNEUUS EliDERT.
WILLIAM C. STURGE3.
A A. RAVEN, President.
CORNELIUS ELDERT, sd Vice- r>res't.
P".

A

PAtiSONS.

VICKER8

A

Vi'e-Pre»'t.

PHELPS,

New York
INVeSTMKNT BROKERS,
HIQEJIST ajRADE RAILROAD

29 Wall Street

BO

IV

DS.

THKO P

.TOHV« >V

7/y

Viff.l'-'fs't

$10,000 DULUTH, MINN.,
LIGHT GOLD BONDS,

5% AVATEK &

Dne July

1,

1926.

Write for price and full particulars.
B. POVVTEi^jL,
cO.
Woodstacli, Verniant.

HAItKV

^

THE CHRONICLE.

1890

Vol. lxxvii.

[

%xnst ®0mvauiJCB.

MERCANTILE
INTERNATIONAL
OLD COLONY
TRUST COMPANY, TRUST COMPANY, TRUST COMPANY,
LOUIS.
BU.STON.

ST.

Capital,
Surplu§,

iei3,ooo,ooo

Capital

6,500,000

Surplus

lBier«Bt Paid on Uepoalts Subject to Check.

OFFICERS

WADK, President,
CORWIN U. SPENCKK, Vice-Pres.
LORKNZO K. ANDERSON. Vlce-Pres.

FESTU>

J.

MOBKRLT,

Asst. Secretary

GEOROB W. WILSON. Treasurer.
WILIJAM MAFFITT. As8t. Tre^sMr.
JOUN H. KRUSE, Asst. Treasurer.
JACOB KLEIN.

Transacts a General Banklns and Trnst

Company Business.
SOLICITS THE BUSINESS of Individuals, Firms,
on Deposits, Subject to
Check. Special rates on time deposits.
ACTS AS EXECUTOR. Administrator, Guardian.
Trustee and AssUmee, and as Trustee Under
MortffaKes from Railroads and other Corpora-

and as Reslstrar and Transfer Avent.
New Burslar-proot and FIre-proot

tions,

CounseL

VIRGIL M. UAURIS,

Trust

-

Corporations and Trustees.

KICK. VIce-Pres.
H. McMlI.I.AN. !<ecretary.
J. B.

•

-

INTEREST ALLOWED

JONATHAN
C.

BOSTON, MASS.
CAPITAL
81.500,000
91,000,000 00 SURPLUS
.'),000,U00
TrniisRcts a General Banking Business.
3,000,000 00 Allows Interest on Dallv

CUARTER PERPETUAL,.

Trmnaacta r Ci«neral Trudt. Financial and

Keat Kdtaie BuBlness.

-

inA8!!i.

SAFE DEPOSIT VAULTS.

Officer.

Balances Subject
to (Jhrck.
Trustee Under ftlona-Rnes.
Triinsft-r Asrent, RcKlstrar.
BOARD OF n RECTORS:
I

T. Jefferson OooUdge Jr., Chairman.
Oliver Ames,

Gordon Abbott,
C. W. Amory,
li.

('.

H. MoMlllan,
William Matlitt,

Robert M. Morse,

John UoRK,

Paal Brown.

Geor».'e D. Markham,
Dhu. C. Nutieut,

Jacues G. Butler,

Valle Rerburn,

Jamea

Jonathan Rice,
Harry Scullin.
Corwln H. Soencer.
Joseph Splet.'el halter,
John S. Sullivan,
FestuB J. Wade,
D. I). Walker,

George Warren Brown,
Jaoie*

W.

Bell,

Campt>ell,

GustaT Cramer,
L. U. Doner,
C. F. Gauss.

Henry Grlesedleck Jr„
R. C. Kerens.

Smerson McMUlIn,
Georsre

W.

Wilson,

MISSISSIPPI

VALLEY

TRUST
FOURTH & PINE

STS.,ST. LOUIS.

Adams. D. R. Francis.

Wm.D

Orthwein,
William'n Bacon, Auf?ust Gehner. H. Clay Pierce,
Murray Carletoa. Geo. H. (joddard.J. Ramsey Jr.

HoOman.

Moses Kumsey,
Chas. H. Huttle, Julius S. Walsh,

Charles Clark.

K.

S.

John D. Davis.
H. I. Drummond, Breckln'izeJones.RoUa WellB,
Wm. F. Nolker.
Auk. B. Ewlng,

OFFICKRS.
Walsh. President.
BRECKiXKiDGE JoNE.*. 1st V.-P. and CounseL

Jri-irs

John M. Graham.

Nichols.
Thomas F. Temple,
A. N. Burbank,
C. J. U. Woodbury,
Oliver W. Mink,
Aaron Davis Weld,
Albert 0. HouRhton.

JOHN M. ORAUAItl.

FARNHAItl S>IITH.

Ass't Seo'y.

CITY TRUST

CO.,

B.

Incorporatbd

Transact* a General Trnst and

9.

John- D. Davis. Second Vice-President.
Samuel E. Hoffman. Third Vice- Pre*.
Jajmes K. Brock. Secretary.

Itaiikln;; Business.
Interest Allowed on Deposits subject to Check
a.n

8.

Charles E. Perkins,
William A. Russell,
Howard Stockton,
Philip Stockton,
Oharles A. t^tone.
Qnlncy A. Shaw Jr.
Nathaniel Thayer,

Jr.,

W. DAVIESS P iTTM AH.Bond OfBcer. Georxe A. Draper,
Frederick Vibrling. l"rast Officer.
William F. Draper,
Henry Semple Ames Asst. Trust Officer.
Frederick P. Fish,
William G. Lackey. Asst. Trust Officer.
Robert F. Herrlck,
Eugene H. Bekoist. Real Estate Officer.
Francis L. UlRRlnson

WiLBCK

B. Price. Safe Deposit Officer.

Stdnev

THE

The

EQUITABLE

TRUST COMPANY,
CHICAGO.
-

Capital paid up
Surplus -

AUTHORIZED BY LAW TO RECEIVE

and

execute trusts of every character from courts,
corporations and Individuals. Takes entire cbaree
of estates, real and peraonaL Acts as aeent for the
registration and transfer of bonds and stocks.and
the payment of coupons, interest and dividends. A
leeal depositor; for court and trust funds.

JULIUS
F.

M.

TRUST COMPANY,

CAPITAli,

-

-

-

Authorized to act as executor and to receive and
hold money or property in trust or on d«i>'>8f from
Courts of Law or Equity, Executors, Administrators, AsslKnees, Guardians, Trustees, Corporations
-

gl, 000,000

-

$1,400,000

Transacts a General Banking and Trust

Company

Business.

INTEREST ALLOWED ON DEPOSITS Subject to

Check. Special Rates on Time Deposits.
Trustee under MortKapca, Transfer Agent, and
Registrar of Stocks and Bonds,

BOARD OF DIRECTORS:
C. F. Adams 2d,
F. Lothrop Ames,

Elmer
N.

Hobart Ames,

Edwin

David P. Kimball,
Jolin Lawrence,
S. B. T'eabody.

F. Atkins,
8. Bird,

Charles

George W. Brown,

Francis Peabody Jr„
Albert A. Pope,
N. W. Rice.
Royal Robblns,
P. L. SaltonstalL

Issaac T. Burr,

Samuel Carr.
Gordon Dexter,

Eugene N.

Fobs,

Charles
N.

P. Howe,
W. Jordan,

W. Whlttler

W. JORDAN,

President.
B. A. COFFIN. Treasurer.
C. H. BOWBN, Secretary.

a W.AURYANSBN, Asst. Sec

Rhode

Island

Hospital

Trust Company,
PROVIDENCE,

R.

CAPITAL,

I.

81.000,000

SURPLUS EARNINGS

OTer... .$1,400,000

DIRECTORS:

$1,000,000
2,000,000

-

-

SURPLUS EARNINOS,

BOSTON MASS.
CAPITAL,

WAKEFIELD. Trust Officer.

K.

LAM SON, Asst. Secretary.

AMERICAN LOAN &
TRUST COMPANY,

W. Wlnslow.

NEW ENGLAND

SURPIiLS,
$500,000
275,000

-

)

H. A. PHIPPKN, Secretary and Asst, Treasurer.
F. G. POUSLAND, Assistant Treasurer.
JOSEPH G. 8TBARN8, Iss't. Secretary.
B. Kr,MERFOVK. Asft. Secretary.

W. Seward Webb,

James K. Hooper,

Weston.

C.

)

Maxwell Norman,
Robert T. Paine id,

Bartlett,

T. Jefferson Coolldge
Charles B. Cottlng,

Henry

GORDON ABBOTT, President.
*'^,^J.E?,'^'^^'^*^N, Vloe-Pres. and Treasurer.
GEORGE P. GARDNER,
FRANCIS R. HART,
"»•"«"«.
J Vtoe-Prosidonts.
JAMKS A. PARKKli.

Trustee under Uailroad

OFFICERS:
PHILIP STOCKTON, President.
CHARLES FRANCIS ADAMS 2d, V.-Pres.
GEORGE S. MUM FORD, Secretary.
GEORGE W. GRANT, Treasurer.
DIRECTORS:
Charles F. Adams Sd,
Geortre E. Keith,
John

Nat hitnlel Thayer,
Luolui Tuttie.

Stephen M. Weld,

:>lortftaKen, also as Aeenc for the
KfKistflrluK and Transfer of Stock.
A legal Depositary for Court Funds, and authorised
to act as Executor, Guardian, Administrator and Trustee.

Orlando H. Alford,

HCGU K. Lyle. Asst. Secretary.
Hknky C. Ibbotson, 2d Asst. Sec'y.

Mliiot,

Henry R. Seed.
Charles 8. Tuckerman,

BOSTON. MASS.

$1,000,000
1,000,000

Snrplns,

Acts

Georxe T. Kabyan,
George P. Gardner,
Walter HunneweU.
George v. L. Meyer,
Richard Olney.

Howe,

1900.

STATE BTBEET, EOBTOK, MA88.

and othei

S.

Laurence

("^arr.

T. Jefferson Coolldge,
Philip Dexter.

President.

HENRY L.. J E W KTT, Secretary.

>

A General Tnut Company business transacted.
UIRECTORS.
B.

Crapo,

Capital,

«« /,/,« «/,«
and PJtOtlTS,^ 9ii,UUU,0UU

KImer

Phillips Jr.,
Patrick A. Collins,

Lyman

40

CO.,

CAPITAL, SURPLXJS

WlUium W.

James

Samuel

Cheney,

Henry

Separate Acconiinodatlons lor Ladles.
H" V'.^^COOK K \ Mtrrs-Safe Dep.Dept,
DIRECTORS:
DIRECTORS:
Wllham Claflln,
W. Murrav Crane.

I/Orenco B. Anderson.

P.

Charles K. Cottinjt,
When 8. Draper,
Frederick P. Fiih,
ReRlnald Foster,

and IndlvldnalB.

Also acts as Trustee under Mortaages and as
Transfer Aftent and Reststrar of Stooks and Bonds.

Royal C. Taft.
Robert H. L Goddard,

John

Geo. W. B. Matteson,
William D. Ely.

Rowland G. Hazard,
Netson W. Aldrlcii,
Samuel R. Dorrance,

Robert I. Gammell,
William Binney,
William B. Weeden,

C. Pej?ram,
B. Goff.

Jjyman

Howard

O. Sturges,

Edward D. Pearce,

Stephen O. Metcalt
Walter R. Callonder,

Robert Knight,

Gilbert A. Phillips,

John W. Danielson,

Kdward Uolbrook,
James E. Sullivan.

Herbert

J.

Wells,

INTEREST ALLOWED ON DEPOSITS SUBJECT
TO CHECK.
HERBERT J. WELLS. President.
BOARD OF DIRECTORS t
SAM'L R. DORRANCE, Vice-President.
WM. ENDICOTT. President.
EDWARD S. CLARK, Secretary.
VicePreiidenu
CHAS. H. DALTON,
WILLIAM A- GAMWELL, Asst. Seo'y.
CHAS. F. CHOATK. Vice-President.
PRESTON H. GARDNER, Asst. SecT.
J. I-EWI8 STACKPiLH. Vice-President.
INTEREST ALLOWED ON DEPOSITS Of money
Morris Gray,
Alfred Bowdltch,

repayable on demand, on notice, or at a fixed date,
on which special rates of interest are allowed.

TRUST FUNDS AND TRUST INVESTMENTS
are kept separate and apart from the assets of the

ANDREW McN ALLY.

JOHN M. 8MVTU,
MAURICE ROSENFELD. J. R. WAXSU.
WALTON.
lu A.
M. Bl^OUNT,

OKflCEBS:
B.

Lawrence M. Stockton,
James J. Storrow,

William Famsworth,

Nathaniel Thayer,

Amos W.

Stetson,

Henry C. Weston,
George Wlxelesworth.

DIBBCT0R3:

WILLIAM BEST,

J.

Franklin Haven,

T. Jefferson Coolldge,
Geortfe Dexter,
Philip Dexter.

Fredeiick P. Fish,

company.
F.

Aleiauder Cochrane,

WALSH, President.
WALTON, Vice-President.
C D. ORGAN. Secy, and Treasurer.
C. HUNTOON. Asst. Secy. & Cashier

L. A.

D. K.

503-605-507 Chestnut St., Philadelphia.
WHITNEY, Actuary.
MARK, Secretary.
$1,000,000
FREDERICK W. ALLEN, Asst. See. &Trea8. CAPITAL
FRANCIS R. JEWBTT, Trust Officer.
Acts as Executor. Trustee, Registrar, etc. Be-j

H. N.

" 17m <M«Mt Trutt

Oompanv in

Oregon."

PORTLAND
TRUST COMPANY
OF OREGON.

Financial Review.
ANNUAL.
1003

Issue.

WILLIAM

B.

Price, 8*.2.00.

DANA COMPANY,

»6X PINE STREET, NEW YORK,

TheTrustCompanyof,
North America

Incorporated April

88, 1887.

We

issne coupon certlflcates-of-deposlt for two
three, four or Ave years, on which we pay Interest
at the rate of four per cent per annum as per semtissue call Interest
annual coupons attached.
bearins ceniScates-of-deposit at various rates, ai
defined In our book of ILLUSTRATIONS, ooptst
of which we shall be Klad to furnish.

We

UKNJ.

I.

COUEN.

President.

B. I.EE

PAUET,

comes Surety. Complete set of Sale Deposit Vaults.
Interest on Deposits.

(

DIRECTORS:
James Crosby Brown,
John Cadwalader,
B. W. Clark Jr.,
Kdwin S. Dixon,
Eugene L. Ellison,
Joseph C. Fr -ley,
Harr? C. Francis,

Henry

L.

Howard
Samuel
J.

Becretanr.

ADAM
HENRY
HENRY

A. STULL.
President.
G. BRBNOLBL
& Treasurer.
2d Vice-President, JOSEPH S.CLARK.
B. BARTOW.
Trust Officer and Sec'y,

Ist Vlce-Pret.

Gaw

Jr.,
S. Graham,
F. Houston,

Levering Jones,

Howard W.

Lewis,

Malcolm Lloyd,
John Mcllhenny,
Clement B. Newbol4,
Jobn W. i'epper,
William K. Read,
Frank Samuel,

Adam

A. Stull,

Ed ward D. Toland,
Joneph R. Walnwrigk^
(Jporire B. Wilson,
William D. Winsor.
Isaac J. Wistar.