The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
IK' r*M
TWO
LIBRARY}
UMV. OF
SECTIONS—SECTION^ONE-
MICH4
NOV 881910
tfmtmtrtH
INCLUDING
_
Bank &
Entered at N. Y. Post Office as second class mail matter.
Copyrighted in 1910, by William B. Dana Company, New York.
NEW YORK, NOVEMBER 26
VOL. 91.
Electric Railway Section
State and City Section
Railway & Industrial Section
Bankers’ Convention Section
Quotation Section
Railway Earnings Section
gitrataxial.
gittattcial.
gitxatxcial.
THE FARMERS’ LOAN & TRUST
COMPANY
Harvey Fisk & Sons
Foreign Exchange, Cable Transfers,
Letters of Credit, Payable through¬
NEW YORK
BANKERS
Government,
Railroad
THE
Trustee, Guardian, Reoeiver, and In all
ether fiduciary capacities.
Acts as Trustee under Mortgages made
by Railroad and other Corporations, and
Agent and Registrar of Stocks
LIBERTY
and
Municipal Bonds
out the world
The Company is a legal depositary tor
moneys paid Into Court, and Is author¬
ised to act as Executor, Administrator,
NO. 2370.
1910.
NATIONAL
INVESTMENT SECURITIES
PHILADELPHIA, represented by
JAMES H. CHAPMAN. 421 Chestnut St.
CHICAGO, represented by D. K. DRAKE,
215 La Salle St.
BOSTON, MASS., represented by
JOHN B. MOULTON. 25 Congress St.
BANK
OF NEW YORK
ISO BROADWAY
as Transfer
and Bonds.
Receives deposits upon Certificates of
Deposit, or subject to check,
interest on daily balances.
and allows
Manages Real Estate and lends money
bond and mortgage.
Will act as Agent In the tram&ctlon of
an
approved financial business.
Depositary for Legal Reserves of State
Banks and also for moneys of the City of
any
New York.
Flsoal Agent for States,
Cities.
Counties and
16-22 WILLIAM STREET
47S FIFTH AVENUE
NEW YORK
LONDON
PARIS
The National Park Bank
of New York
Organized 1856.
Capital
$5,000,000 00
Surplus and Profits ..... 12,650,168 20
Deposits Nov. 10,1910 ... 99,461,68031
RICHARD DELAFIELD,
President.
GILBERT G. THORNE.
Vice-President.
JOHN C. MoKEON.
Vice-President.
JOHN C. VAN CLEAF.
Vice-President.
MAURICE H. EWER.
Cashier.
WILLIAM O. JONES.
WILLIAM A. MAIN.
Asst. Cashier.
Asst. Cashier.
FRED’K O. FOXCROFT. Asst. Cashier.
N. W. HARRIS & CO
BANKERS
Plus Street, Comer Wlllltm
NEW YORK
25 Federal St.. Boston
Reoelve deposits subject to check
allow Interest on balances.
Act as flsoal agents for munidp&litlea and corporations. Issue
letters
of
credit and deal ta
and
BONDS FOR INVESTMENT
LIST ON APPLICATION
Members of Richmond and Baltimore Stock
Exchanges.
John L. Williams & Sons
THE
Edward B. Smith & Co.
MECHANICS AND METALS
BANKERS
BANKERS
Corner 9th and Main Streets
RICHMOND, VA.
Baltimore
NATIONAL BANK
Correspondents:
INVESTMENT
SECURITIES
MIDDENDORF. WILLIAMS A CO.
88 WaU Street
GARFIELD NATIONAL BANK
Fifth Avenue Building
Corner 5th Ave. andlSSrd St.. New York.
Capital, $1,000,900
N. B. Cor. Broad A Chostanf Sts..
Capital,
Surplus,
$6,000,000
6,000.000
-
Philadelphia
IT Pioe Street. New York
Surplus, $1,000,000
RUEL W. POOR, President
•JAMES MeCUTCHEON. Vice-Pres.
WILLIAM L. DOUGLASS. Cashier
ARTHUR W. SNOW. Asst. Cashier
Chase National Bank
Gearing House Building
Cap. & Stirp., 5ia.706.TTa
Members New York and Phlla. Stock Exchange
ORIGINAL CHARTER 1829
THE
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
OF RAILROAD, GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
OF THE CITY OF NEW YORK
Dep.. $96,750,273
A. B. HEPBURN. President
A. H. Wlggin. V.-Pres. C. C. Slade. Asst. Cash.
8. H. Miller. V-Pres.
E. A. Lee. Asst, Cashier.
H. M. Conkey. Cashier. W. E. Purdy. Asst. Cash.
A. C. Andrews. Asst. Cashier.
109-111
SOUTH FOURTH STREET
PHILADELPHIA
Capital
Surplus and Profits (earned)
$1,000,000
2,460,000
OFFICERS
THE EQUIPMENT OF THE
FOURTH
NATIONAL
SAMUEL WOOLVERTON. President
BANK
OF THE CITY OF NEW YORK
First National Bank
—CORNER NASSAU AND PINE
STREETS—IS
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS,
of
ESPECIALLY
316
ADRIAN ISELIN JR., Vice-President
GEORGE E. LEWIS. Cashier
HOWELL T. MANSON, Asst. Cashier
j?Madelphia
CHESTNUT STREET
ACCOUNTS
INVITED
DIRECTORS
Adrian Iselin Jr.
Frederio W. Stevens
Alexander H. Stevens
W. Emlen Roosevelt
Chaa. A. Peabody
Samuel Wooivefton
Charles d. Tweed
Thomas Deaay
n
THE CHRONICLE
m
-
...
[VOL.
■
-
LXXXX1
■
Xautuvs attfl growe*. at 'Eavtlga g*cliau0t.
J. P. MORGAN & CO. Maitland,
DOMESTIC AND FOREION BANKERS
Wall Street
52 WILLIAM STREET
NEW YORK
Corner of Broad
NEW YORK
DRBXEL k CO*
Coppell & Co., Kidder, Peabody & Co.,
PHILADELPHIA
Corner of 5th and Chestnut Streets
a ORGAN, GRENFELL* CO„ LONDON
Bids •/ Exchange, Telegraphic
LeUere of Credit
Union
of
London
ft
Cable Transfers
Otroular Letters for Travelers available In all parts
of the world
Brown Brothers A Co.
BOSTON.
t
i*
Buy and sell Bills of Exchange
and make eable transfers
points.
LETTERS OF CREDIT
Correspondents of
BARING
BROTHERS
on
all
J. & W.
August Belmont & Co.,
No. 28 NASSAU STREET.
Members New York Stock Exchange.
OO.
LTD
Seligman & Co.,
BANKERS
NEW
YORK
Buy and Sell Investment Securities
Agents and Correspondents of the
Messrs. ROTHSCHILD.
Issue
Letters of Credit for Travelers.
Available In all Parts of the World
London, Paris and Vienna.
ISSUE LETTERS OF CREDIT
DRAW BILLS OF EXCHANGE AND MAE B
for Travelers
TELEGRAPHIC TRANSFERS OF MON El TO
EUROPE AND CALIFORNIA
Available in all parts of the world.
Draw Bills of Exchange and make Telegraphlo
Transfers to EUROPE. Cuba, and the
other West Indies, Mexico and California.
Execute orders for the purchase and sale of
Bonds and Stocks.
Issue Commercial and
Travelers’ Credits, available In
CLllL all parts of the world.
BROWN. SHIPLEY & CO., LONDON
A
LONDON
TRAVELERS’ LETTERS OF CREDIT
Available throughout the United States
TltlCS
a! f
INVESTMENT SECURITIES.
BANKERS.
_
STREET, NEW YORE
BANKERS
Limited.
Agents for the Bank of Australasia, the British
Guiana Bank, Demerara, etc., etc.
59 Wall Street
ALEX. BROWN ft SONS. BALTIMORE.
Connected by Private Wire.
Mems N. Y., Phlla., Boston ft Balt. Stock Exch’s.
Buy and sell first-class Investment Securities on com- I nT/POtm pnt
mission. Receive accounts AUVCoLIllClll
tf Banks, Bankers, Corpora*.*
tlons. Firms and Individuals QCCll
on favorable terms.
Collect
drafts drawn abroad on all points in the United
States and Canada; and drafts drawn in the United
States on foreign countries, including South Africa.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT.
Letters
Bank,
Messrs. Mallet Freres ft Cle., Paris,
Banco Nadonal de Mexico
And Its Branches.
Deposits reoelved subject to Draft
Securities bought and sold on Commission
Interest allowed on Deposits
Foreign Exchange, Commercial Credits
BOSTON
FOREION EXCHANGE.
Smiths
London,
tl Boulevard Haussmann
NEW YORK.
Tranefere,
on
HARJES & CO., PARIS
PHILA.
56 WALL
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
issue Loans.
No. 22 Old Broad Street
MORGAN,
US DEVONSHIRE STSEZT
Seligman Brothers, London
Seligman Freree A Cie., Parle
Aleberg, Goldberg A Go,,
The Angle and London-Parie National
Bank of San
Francisco, Col.
Graham, Vaughan & Co.,
44 Pine Street, New York.
TA1LER&CD
27 Pine Street, New York
BANKERS
Redmond &€&
INVESTMENT SECURITIES
BANKERS
31-88 Pine
MEMBERS NEW TORE STOCK EXCHANGE
SOT Chestnut Street. Philadelphia.
BANKERS
Lawrence Turnure ft Co.
INVESTMENT
Members of the New York Stock Exchange
64-66 Wall Straet, New York
Deposits received subject to draft. Interest al¬
lowed
on
deposits.
Securities bought and sold
Winslow, Lanier & Co.,
London Bankers:—London Joint-Stock Bank,
limited.
Paris Bankers:—Heine ft Co.
Produce
Deposits Received Subject to Draft. Interest
Allowed on Deposits.
Securities
on
Securities bought and sold
Act
Dealers In
Exchange
-
-
-
-
$1,000,000
500,000
bought
BANKERS
485 Chestnut Street
PHILADELPHIA
BANKERS.
Issue
John Munroe ft Co.,
Schulz & Ruckgaber,
BANKERS,
Foreign. Exohange
Cable Transfers.
MONROE & 00., Paris
Act as Financial Ageuts
Execute orders for purchase and sale of
Stocks and Bonds.
Issue Commercial and Travelers* Credits
available in all parts of the world.
Commercial Credits.
Municipal Bonds.
Railroads, Street
of established value.
Dealers in Investment Securities
Letters of Credit for Travelers
and
of
MEMBERS N. Y. STOCK EXCHANGE.
Banking Business
BOSTON
Government
Securities
Railways and Gas companies
Foreign Exchange Bought and Sold.
NHW FORK
Fiscal Agents.
Graham & Co.
sold. Cable
Transfers.
Commercial and Travelers’ Letters of
Credit available In all parts of the world.
87 William Street.
Oeneral Foreign and Domestic
commission
High-Grade Investment Securities.
and
BANKERS
a
as
on
BROADWAY. Corner BEAYER ST.
HEIDELBACH, ICKELHEIMER & CO.
Transact
and
Lists upon appUoatlon.
Kean, Taylor & Co.
PINE STREET, NEW YOQK.
to cheque
deposits.
Members New York Stock Exohange.
ACCOUNTS INVITED
30
on
Exchange Bank
Capital
Surplus earned
Foreign
Foreign Exchange, Letters of Credit
subject
interest allowed
NEW YORK
BANKERS
Cheques,
Exchange and Cable Transfers.
Deposits reoelved
59 CEDAR STREET
NEW YORK
of Credit and Travelers'
available the world over.
Bills of
on
commission. Travelers' credits, available through¬
out the United States, Cuba. Puerto Rico, Mexico,
Central America and Spain. Make collections In and
Issue drafts and cable transfers on above countries.
“3
Cables ”Mimoea.”
Letters
Bankers
SECURITIES
Bought and Sold
Commission.
Street, New York
624 Fifth Ave., N. Y.
15 William Street.
Members New
-
York
-
-
-
Bank
Bremen.
Flllale
Knauth, Nachod&Kiihne
BANKERS
New York
Stock
Exchange.
Correspondents of Messrs.
Fruhllng ft Gosohen, London.
John Berenberg-Gossler ft Co..
Hamburg.
Marcuard, Meyer-Borel ft Cle., Paris.
Bremer
Foreign and Domestic Letters ef
Credit and Travelers’ Cheque!
der
Dresdner
Bank.
Issue Commercial ft Travelers’ Credits.
Buy and Sell Bills of Exchange.
Cable Transfers ft Investment Securities
NEWYORK
LEIPSIG, GERMANY
Members New York Stock
Exchange.
INVESTMENT
SECURITIES
NOV. 26
THE CHRONICLE
1910.]
Smtef.
gxttfcevs.
Saaks**.
Millett.Roe & Hagen
Lee, Hlgginson&Co.
Buildings, Princs’s Strsst,
LONDON, E. C.
S3 Will Street
New York
BANKERS.
Dealnrs In
Members New York, Chicago and Boston
Stock Exchanges.
HIGH-GRADE BONDS
Chioago
HIGGINSON & CO.
Bank
BANKERS
Wm. A. Read & Co.
BOSTON
Now York
ui
Members New York Stock
Investment Securities
Exchange
Boston, 15 Congross Stroot
25 NASSAU STREET,
NEW YORE
Plympton, Gardiner&Co*
BOSTON
BALTIMORE
CHICAGO
N. W. HALSEY A CO.,
Bankers
LONDON
Member* Now York sad Chicago
Stock Exchanges
BONDS FOR INVESTMENT
Interest Allowed on
Conservative Investments
Fiscal
LISTS ON BEQUEST
27 William St., New York
CI2 Lft Salle Street,
54 Old Broad Street,
LONDON, E. C.
CHICAGO
Rhoades&Company
40
Deposit Aoeounte
Agents for Cities and Corporations
Wan Stnet, HEW YORK
Philadelphia
San Fr.sci.co
Chicago
BANKERS
45 WALL STREET. NEW YORK
George P. Butler ft Bro.
SB WaH Street
Members N. Y. Stock Exchange
High-Grade Buis
Trowbridge & Co.
Stats.
NEW YORK
Municipal and Railroad
RAILROAD AND OTHER
INVESTMENT SECURITIES.
BANKEBS
Members New Tork Stock Exchange
Members New York Stook Bxohange; Execute
Commission Orders; Deposits received subject to
drift.
Bonds and Stocks
for Investment
Letters of Credit and
Travelers' Checks
Available Throughout the World
HARTFORD—S€ Peart Street
NEW YORK
111
NEW HAVEN
134 Orange St.
Broadway
BANKERS
Gable Address. Domino, N. Y.
BOSTON
Members of New York A Chicago Stock Exchanges
Blake Brothers & Co.
NEW YORK
Execute orders for purchase and
sale of
Stocks and Bonds
Buy and Sell Foreign Exchange.
GABLE ADDRESS, "COLDNESS**
14 State Street,
BOSTON
Issue
Dealers In
NEW YORK CITY
Members New York A Boston Stook Exchanges
Amsterdam. Holland.
TRANSACT A GENERAL RANKING AND
STOCK EXCHANGE BUSINESS.
Municipal and Industrial Securities
Inquiries and correspondence receive prompt and
courteous attention.
OFFICIAL
QUOTATION SHEET WILL BE SENT
REOULARLY ON REQUEST
DEALERS IN
Securities
and OammareIni Paper
Wollenbergor & Co.
BANKERS
Zimmermann & Forshay
Members New York Stock Exchange.
Orders executed for stocks and bonds for Invest¬
ment or on margin.
Femigs Excfaasge Besgkt at SiM
Transfers
to
ell
Parti
of
tbs
Foreign Government Bonds
206 La Salle Street
-
-
CHICA60
LEONARD H. HOAR
BIRD 8. COLBR
W. N. COLER & CO.
BANKERS
Letters ef Credit Issiid
Cable
SpedaUsts In
Correspondence invited.
• and 11 Wall Street. New York.
S4 BROAD STREET.
Adolph Boissevaln ft Co..
49 WALL STREET. N. Y. CITY.
Members New York Stock Exchange.
COMMISSION BROKERS
Commercial and Travelers9
Letters of Credit
Investment
BOISSEVAIN & CO.
NEW YORK.
Dominick Bros. & Co.
In Railroad,
BANKERS
Members New York Stook Exchange.
Tel. 6670-1-2 Hanover
Available In all parte of the world.
•ad otbw MUKXOXPAL BONDS
COMMERCIAL PAPER
INVESTMENT SECURITIES
Draw Bids of Exchange and make Cable
Transfers to Europe, Asia, Australia, the
West Indies, Central and South Amerlc and
Mexico.
Goldman, Sachs & Co.
CHICAGO
Exchange Place,
Cor. of WaH and Brand Sts.. Now York.
Issue Letters of Credit for Travelers, avail¬
able in all parts of the world.
60 WALL STREET. NEW YORK
56
H. B. HOLLINS & CO.
World.
43 CEDAR ST.,
NEW YORK
INVESTMENTS
BOND & GOODWIN
BANKERS
Corporation and Collateral Loans
Commercial Paper
also
INVESTMENT 8KOT7RXTXX8
CRAMP, MITCHELL 1 SHOBER
BANKERS
1411 Chestnut St.
Members New York and Phils. Stock Exchangee
aC Oeigrcm
BOSTON
St
j
lit Broadway
LNBW YORK
184 LaSalle St.
CHICAGO
BANKERS
fNew York Stook Exchange
York Cotton Exchange
Members {New
IChlcago Stock Exchange
New York CottonjBxobange
'
\
INVESTMENT SECURITIES
Investment Securities
37-43 Wall Straatg New York
..
Members New York Stock Exchange
and Boston Stock Bxohange.
Philadelphia
Shoemaker, Batss & Co
'•
500 Fifth Ave„ New York
nr
THE CHRONICLE
{VOL. UTTtl
gatuUUau.
2?0*et0ti.
MONTREAL
DEUTSCHE BANK The Union Discount Co. BANK OF
(Established 1817)
BERLIN W
of London, Limited
CAPITAL paid in - - $14,400,000 06
Behrenstrasse 9 to IS
89 CORNHILL.
Telegraphic Address. Udlsoo, London.
CAPITAL.
$47,619,000
M. 200.000.000
RESERVE
$25,172,896
Capital Subscribed
Paid-Up
Reserve Fund
-
8.750,000
2.900,000
M. 105.726.164.
$5=ȣ1 STERLING.
Dividends paid during last ten years:
11. 11. 11. 11. 12. 12. 12. 12. 12. 12 H per oent
NOTICE IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
BREMEN.
DRESDEN. FRANKFORT-O-M.,
HAMBURG,
LEIPSIC.
MUNICH,
NUREMBURG. AUGSBURG.
WIESBADEN.
BRUSSELS. CONSTANTINOPLE
deposit are as follows:
At Call, ZYz Per Cent.
Head Office—Montreal
R. B. ANGUS, President.
Sir Edw. Clouston, Bart.—V.-Pres. A Gen. Mgr
NEW YORK OFFICE.
London Agency <
LONDON, E. 0.
64 WALL STREET
The Company discounts approved bank and
mercantile acceptances, receives money on de¬
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
CHRISTOPHER R. NUGENT. Manager.
R. Y. HEBDEN.
W. A. BOG,
J. T. MOLINEUX
)
[Agents.
J
Buy and Sell Sterling and Continental Exchange
and the
4 George Yard, Lombard St., '
681,661 44
Rt. Hon. Lord Strathcona and. Mount Royal.
G. C. M. G., G. C. V. O.—Honorary President
At 8 to 7 Days' Notice, 334 Per Cent.
Brandies:
Deutsche Bank (Berlin)
12,000,000 00
REST,
UNDIVIDED PROFITS,
$7,500,000
The London City &
Midland Bank, Limited,
and Cable Transfers; grant Commercial and Trav¬
elers’ Credits, available In any part of the world:
Issue drafts on and make collections In Chicago and
throughout the Dominion of Canada.
London Office, 47 Threadneedle St.. E. C.
F. WILLIAMS TAYLOR. Manager.
e
HEAD OFFICE
6 Threadneedle Street. London. England.
Merchants’ Bank of Canada
BANCO ALEMAN TRANSATLANTIC
With Branches In all the Principal Cities and
Towns of England and Wales.
(Deutsche Ueberseelsohe Bank.)
Telegraphic Address: Cinnabar. London.
SUBSCRIBED CAPITAL
($7,148,000)
($5,857,000)
M. 22.500.000.
Ml
ESTABLISHED 1886
M. 80.000,000.
PAID-UP CAPITAL
SUBSCRIBED
CAPITAL, $95,741,700
CAPITAL, 19,946,187
RESERVE FUND, - 17,951,668
($1,625,000) ( PAID-UP
RESERVE FUND
M. 6,827,000.
HEAD OFFICE
HEAD OFFICE MONTREAL
CAPITAL
$6,000,000
Rest and Undivided Profits
4.608,157
NEW YORK OFFICE. 63 and 65 Wall St.
Sir EDWARD H. HOLDEN. Bart..
Chairman and Managing Director.
BERLIN
Kanonlerstrasse 29 to 80.
155 branches in the Provinces of Quebeo, Ontario.
Manitoba, Saskatchewan. Alberta and British
Columbia. Good facilities for effecting prompt col¬
lections in Canada. Buy and sell
Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
London Agents—The London Joint Stk.Bk.. Ltd.
Canadian Bonds
Branches:
Bahla-Blanca. Buenos Aires,
Cordoba. Mendoza. Tucuman.
BOLIVIA: La Pas, Oruro.
OH1LI: Antofagasta, Concepcion, Iqulque, Osorno.
Santiago. Temuco, Valdivia, Valparaiso.
PERU: Arequlpa, Callao, Lima. Trujillo.
ARGENTINA:
MUNICIPAL AND CORPORATION
Handele-Gesellschaft,
URUGUAY: Montevideo.
SPAIN: Barcelona. Madrid.
Bills sent for collection, negotiated
WOOD, GUNDY & CO.
Berliner
46 Threadneedle
St.,
LONDON. ENG.
6 King St., W..
TORONTO. CAN.
BERLIN, W.f 64
or
advanced upon.
Behrenstrasse 82-83 and Franzoslsehe-Strasse 42
Drafts, cable-transfers and letters
Canadian Bonds Bought,
Sold and Appraised
Telegraphic Address—Handelschaft, Berlin.
0/ credit issued.
London Agents
DEUTSCHE BANK (BERLIN) LONDON AG’Y
GEORGE Y’D, LOMBARD ST.. LONDON. E.C.
ESTABLISHED 1856
W. Graham Browne & Co.
MONTREAL
Banking Transactions of Every Description
Direction der
Disconto-Gesellschaft,
Capital,
-
-
-
-
M. 110,000,000
ESTABLISHED 1851
Reserve,
-
-
-
-
H. 34,600,000
VAN OSS & CO.
BERLIN W., 48-44 Behrenstrasse
THE
BREMEN, FRANKFORT-o-M., MAINZ.
HOCHST-o-M.. HOMBURG v. d. H.,
POTSDAM. WIESBADEN.
LONDON. E. C..
Swiss Bankverein
Schweizerischer
58 CornhiU.
Bankverein
Bankverein
Tel. Address, Voco.
Codes: Hartfleld’s Wall St.. W. U. A Lleber.
Suisse
Bt$le, Zurich, St Gall, Geneva
CAPITAL, fully paid,
$40,476,200
-
Hong Kong & Shanghai
Agencies at Rorschach, Chlasso and Herlsau
BAN KINO CORPORATION
M. 170,000,000.
RESERVE
$14,307,764
-----
M.
A.
M.
LONDON OFFICE, 43 Lothbury,
60.092.611.
With the unlimited personal liability
of the following partners:
SCHOELLER,
SCHINCKEL,
E.
F.
j
Dr. A. SALOMONSOHN
Capital paid
Surplus,
RUSSELL.
URBIG,
PAULO.
SANTOS. PORTO ALEGRE. BAHIA.
Bank fur Chile und
Deutschland
CAPITAL.
-M. 10.000.000 00
HAMBURG, WITH
BRANCHES IN CHIL
Y ALEMANIA), ANTOFi
/^ASTA .CONCEPCION, SANTIAGO, TEMUCC
IN
BOLIVIA
(BANCO
ANB?oftURO°I°N
DE
VICTORIA; AN]
CHILE
Y
BOLIVIANA^ &
ALI
PA
LONDON AGENTS:
DIRECTION DER DISCONTO-GESELLSCHAFFT 58 CORNHILL. B^O
.
Paid-up Capital (Hong Kong Currency)
$15,000,000
Reserve Fundi In Gold. ..$15,000,0001
81.000.000
lln Silver.. 16,000.000/
Reserve Liabilities of Proprietors
15.000,000
GRANT DRAFTS. ISSUE LETTERS OF CREDIT.
E. C.
Frs.75,000,000
Frs.22,500,000
85
NEGOTIATE OR COLLECT BILLS PAYABLE IN
CHINA, JAPAN. PHILIPPINES. STRAITS SETTLE¬
MENTS, INDIA.
WADE GARD’NER, Agent. 86 Wall St.
Wiener Bank Verein
-
National Discount
CORNHILL.
....
LONDON.
Reserve Fund
-
$26,342,000
-
(180.000,000 crowns)
E.
C.
Cable Address—Natdls: London.
Subscribed Capital
Paid-up Capital
ESTABLISHED 1869
CAPITAL (fully paid)
Company, Limited
M. 10 000.000 00
Head office: HAMBURG.
RIO DE JANEIRO. SAO
Branches:
up,
....
Brasilianische Bank
The
fUr Deutschland
CAPITAL.
HAGUE, HOLLAND
Place American Investments in Europe
$21,166,625
4.233.325
2.200,000
($5=£1 STERLING.)
NOTICE
IS HEREBY
GIVEN that
tin
RATES OF INTEREST allowed for money or
deposit are as follows:
At Call, 354 Per Cent Per Annum.
At 3 to 7 or 14 Days' Notice, 334 Per Cent.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
from time to time and for fixed
periods upon
specially agreed terms.
Loans granted on approved negotiable securities
PHILIP HAROLD WADE. Manager.
RESERVE FUNDS
-
-
-
$7,900,000
(89,000,000 crowns)
HEAD OFFICE VIENNA
(AUSTRIA)
Austria-Hungary
Aussig a-E., Bielitz-Biela,
Branches in
Agram,
Brunn,
Budapest, Carlsbad, Czerno-
witz, Friedek-Mistek, Graz, Innsbruck
Klagenfurt, Krakau, Lemberg, Marienbad, Meran, Pilsen, Prag, Przemyal,
Prossnitz, St. Polten, Tarnow, Tepliti,
Teschen, Villach, Wr. Neustadt.
Branch in Turkey
Constantinople
Nor.
THE CHRONICLE
261916.]
Sattfcex*.
Canadian.
THE CANADIAN BANK
OF COMMERCE
HEAD OFFICE.
Mackay & CO.,
TORONTO
PAID-UP CAPITAL
SURPLUS
NEW YORK OFFICE:
Not. 16 AND 18 EXCHANOE
Wm. Gray and C. D. Mackintosh.
$10,000,000
0*00.000
Edward Sweet & Co
PLACE
Members N. T. Stock Exchange
Agents
Sterling and Continental Bi¬
Boy and Sell
Bankers & Brokers
Transfer*. Commercial and
Collections made at all points.
Banldng and T&dMng* business of every descdptlon transacted with Canada.
chan ge and Cable
Traveler’s Credit*.
LONDON OFFICE—2 Lombard Street.
B.O
Members of the New York
Stock Exchange. Dealers in
High-Grade Bonds and other
Investment Securities. In¬
terest allowed on deposits.
34 PINE STREET
NEW YORK
BANKERS IN OREAT BRITAIN.
The Bank of England.
The Bank of Scotland.
Lloyd’s Bank. IJMsited.
Union of London and Smith’s Bank. Limited.
BANKERS
National
City Bank Building
55 Wall Street
ESTABLISHED 1804
NEW YORK
The Bank of
British North America
Established in 1686
ESTABROOK & CO
Incorporated by Royal Charter In 1840
61.000.000 Sterling
£660.000 Sterling
Paid-up Capital
Reserve Fund
BANKERS
Efegtsip Light, Power and Street
Railway Enterprises with reoorda
Members New York and Boston
Stock Exchanges
Head Offloe:
6 Graoechureh Street. London. E.O.
New York Office: 62 Wall Street.
H. M. J. MeMICHAEL.l Agents.
W. T. OLIVER.
—
J
of
15 State Street*
24 Broad Streets
BOSTON
NEW YORK
A. H. B. MACKENZIE. Manager.
Correspondence Solicited
ELECTRIC MO « SHU CL
R. L. DAY & CO.
J. J. REED.
Vice-President.
B-nJtere and Investment Dealen
Proven Public Utility Securitiea
CHKAOO
BALTIMORE
C. Meredith & Co., Limited
,
esrAisfi
WE OFFER
HARTFORD
CHAS. MEREDITH,
President.
established
INVESTMENT SECURITIES
Boy and sell Sterling and Continental Exchange
and Cable Transfers.
Grant Commercial and
Travelers’ Credits, available in any part of the
world.
Issue Drafts on and make Collections
In all parts of the United States and Canada.
M Bralnrs at Fiaascial Ageits
WE FINANCE
37 Wall St.
36 Congress St.
NEW YORK
BOSTON
(PaM-Up CrrKrI and Surplui, HUMS)
71 BROADWAY NEW YORK
HON. LIONEL G. GUEST. Sec’y-Treasurer.
■Gl-SUIE INVESTMENT BONIS
DIRECTORS
'
ALFRED BAUMGARTEN. C. R. HOSMER
' f
,
Capt. D. C. NEWTON (Montreal)
H. ROBERTSON
C. B. GORDON
Municipal end Railroad
WILLIAM P. BONBRIGHT & COMPANY
MONTREAL
Members New York and
Boston Stock Exchanges
Members of the New York Stook Exchange
Colorado Springs
COLORADO
Canadian
Investment Securities
CORRESPONDENCE SOLICITED
Toronto
Montreal
BNQLAND
Electric Power Securities
Tueker, Anthony A Co.
BANKERS ft BROKERS
M BBOAB
NEW YORK
M STATU ST..
BOSTON
DOMINION SECURITIES
CORPORATION, LIMITED
London
34 Broad Street
NEW YORK
NOBW1CH
NEW EEEWOEE
■
SIMON BORG & CO.,
Members Boston and New York Stock
Exchanges.
BANKERS
London, Eng.
Members of Nets York Stock
No.
20 Nassau Street,
Exchange
-
New York
HUNT & CUSHMAN
HIGH-GRADE
THE
Investment Securities
INVESTMENT TRUST CO.
LIMITED
Trustees-Transfer
Agents
BOND DEPARTMENT
Canadian
St, BOSTON
BESTRQN, GR1SC0M & JINKS
CANADA
40 Wall Street,
NEW YORK.
Land Tide Building.
PHILADELPHIA.
INVESTMENT SECURITIES
HANSON BROS.
H. AMY & CO.
Dealers In
Canadian Investment Securities
Send for our circular airing dctaOc
St. James Street
Alfred Mestre & Co
BANKERS
BANKERS
Corporation Bonds
MONTREAL
35 Congress
INVESTMENT SECURITIES
.
MONTREAL
BANKERS.
44 and 46 Wall Street, New
York
INVESTMENT SECURITIES
BUi of Exchange.
Letters of Credit.
Members of the New York
Stock Exchange.
Dealers
Municipal, Railroad and
Equipment Bonds.
Interest allowed on deposits
Subject to Draft.
in
37 wan at..
NEW YOKE
130 a, i&tb at.1
PHILADELPHIA
▼I
THE CHRONICLE
IVOL.
a:
SKttkecs attd
(mtside 1lew ffxnek.
PITTSBURGH.
LOUISVILLE.
We Buy and Sell
PORTLAND, ORE.
INVK8THEMT BONDS
J. J. B. HILLIARD & SON
(NO STOCKS)
LOUISVILLE. KY.
J. S. &.W. S. KUHN
BANKERS AND BROKERS
o!
Pittsburgh, Pa.
James S. Kuhn,
L. L. M’Clelland.
President.
Seo. & Trees.
PAID-UP CAPITAL. $500,000
SAN FRANCISCO.
LOUISVILLE, KY
J. C. WILSON
SECURITIES.
NASHVILLE.
Union Bank Building,
Taylor & Company
NEW TORK
and
THOS. PLATER & CO.
Singer Bldg.
Bankers and Brokers
BALLARD
&
NASHVILLE.
Southern
PHILADELPHIA.
Philadelphia.
f PHILADELPIA STOCK EXCHANGE
MEMBERS! NEW YORK STOCK EXCHANGE
l CHICAGO BOARD OF TRADE
BONDS
Building,
TO YIELD
4H% TO 6%
LOS ANOELES
ATLAHTA, GEORGIA
PASADENA
BARROLL & CO.
Legal Bonds
BONDS
HILLYER TRUST CO.
Capital and Surplus, - - - $300,000
Merchants’ Exch. Bldg.
San Francisco.
H. W. Heilman Bldg '
Los Angeles.
ATLANTA. GA.
MONTGOMERY.
NORFOLK, VA.
MOTTU & CO.
B. W.
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
Strassburger
Estabtohed 18*2.
SOUTHERN INVESTMENT SECURITIES
MONTGOMERY, ALA.
BANKERS AND BROKERS
BALTIMORE
NORFOLK. VA.
BIRMINGHAM. ALA.
COLSTON, BOYCE
& CO
INVESTMENT BONDS
SOUTHERN SECURITIES
BANKERS AND BROKERS
BIRMINGHAM. ALABAMA.
ALABAMA
20
INVESTMENT BONDS
COLORADO SECURITIES
JOHN T. STEELE
BUFFALO, N. Y.
Government, Municipal
and Corporation Bonds
SPECIALISTS IN
Buffalo and Western New York Securities
PETER J. CALLAN
Exchange Street, Providence, R. X.
a
Bonds, Stocks and Local Securities.
Private wires to Boston,
Philadelphia
and New York
INVESTMENT BANKER
Local, Listed and Unlisted
STOOKS AND BONDS
REAL ESTATE
MEMPHIS.
NEW JERSEY.
DENVER, COL
CALVIN BULLOCK
ANGELES STOCK EXCHANGE
LOS ANGELES.
ALBANY. N.Y.
Richardson & Clark
STOCKS AND BONDS
OFFICES:
LOS
PROVIDENCE
STOCKS AND BONDS
MEYER & GOLDMAN
MEMBERS
BUFFALO.
Members Baltimore Stock Exchange
Otto Marx &, Co.
SAN FRANCISCO
Municipal and Corporation Bonds
THE ROBINSON-HUMPHREY CO.
PHTLAnF.T.PHTA
BIRMINGHAM, \
MONTGOMERY./
Specialty
CALIFORNIA
YIELDING *H% TO 5^%
Specialists in
INACTIVE SECURITIES
4S1 Chestnut St.. - Philadelphia, Pa.
a
WILLIAM R. STAATS CO.
SOUTHERN
MUNICIPAL BONDt
Chestnut and Third Sts.,
Issues
Established 1887
ATLANTA.
J. W. SPARKS &. CO.
CORPORATION
Correspondence Invited
AUGUSTA, GA.
Investments receive our special attention. In¬
formation cheerfully furnished regarding
present
holdings or proposed Investments.
PUBLIC
LOS ANGELES
WILLIAM E. BUSH
STOCK AND BOND BROKERS
28 South Third Sheet.
PHILADELPHIA
Mania
California
Bonds
and Stocks
Wm. G. Hopper & Co.
CO.
AND
BONDS
Offerings of Southern
" H. S. HOPPER.
HOPPER.
Members of Philadelphia Stock Exchange.
&
James H. Adams & Co.
Securities
WANTED
W. G.
E. B. JONES
LOS ANGELES.
MUNICIPAL
PITTSBURGH
HUNTOON
SAN FRANCISCO
Member The Stook and Bond
Exchange
AUGUSTA. GA
Pittsburgh Stock Exchange.
MUNICIPAL AND CORPORATION BONDS
PITTSBURGH SECURITIES
A
PACIFIC COAST SECURITIES
BROKER
Members
REED
LOS ANGELES
Branch, Coronado Hotel, Coronado Beach.
Conespondenta,
Harris. Wlnthrop & Co.. New York & Chicago
1st Nat. Bank Bldg..
JOHN W. DICKEY
HOLM ES, WARDROP &. CO.
building,
SAN FRANOISOO
We Invite Requests for Information
AUGUSTA.
Members Pittsburgh Stock Exchange
Commonwealth Bldg.
PITTSBURGH. PA.
Union Bank
TENN.
on
McCONNEL
(.Stock and Bond Exchange, S. F.
Private Wire to Chicago and New York.
Wakefield, Garthwaite & Co.
STOCKS AND BOND8
INVESTMENT SECURITIES
Quotations and Information Furnished
PITTSBURGH SECURITIES
fNew York Stook Exchange.
MEMBER {Chicago Board of Trade.
HENRY S. FRAZER
Local Stocks and Bonds
INVESTMENT SECURITIES
PITTSBURGH, PA.
PITTSBURGH
BONDS
PACIFIC COAST SECURITIES A SPECIALTY
STOCKS AND BONDS
INVESTMENT SECURITIES
New York and Pittsburgh Stock
Exchanges
and Chicago Board of Trade
258 Fourth Ave.
Municipal and Corporation
John W. & D. S. Green
Members
H. P.
PHILADELPHIA
NEW YORK.
Oorreepondenta: WALKER BROS.. 71 B’way. N. Y.
CHILDS & CHILDS
INVESTMENT
MORRIS BROTHERS
PORTLAND
INVESTMENT BONDS
STREET RAILWAY SECURITIES
A Specialty
Incorporated
LXXXXI.
EDWIN R. CASE
NEW
JERSEY SECURITIES
No better State
No better Securities
16 EXCHANGE PLACE
Tel*. 866 and 751
JERSEY CITY
JNO. L. NORTON
Local Stocks and Bonds.
86 Madison Avenue,
MEMPHIS.
TENN.
THE CHRONICLE
Not. 26 1910.]
TO
S*tf&**s *u& gtolu** wxtsA&t Staff
ST
CHICAGO.
rnT-******** * ■ ■
riruy-injmrirvv-M-in~—
National Enameling &
BANKERS
Corner Clark and Randolph Street*. Chicago.
High-Grade Investment Securities.
Chicago First Mortgages and Bonds for sale.
available In
Hsue Letters of Credit for travelers,
aU parts of the World.
General Domestic and Foreign BanklngBuslness.
Correspondence Solicited.
Send for our latest lists of
Securities.
Sanford F. Harris ft Co.
HIVESTMENT SECURITIES
FRED. S.
$100,000
QREENEBAUM SONS
THE
CLEVELAND.
LOUIS.
■»^**^^*^*****^*^^**ajmrLnnAni~
Stamping Co.
B0RT0N
STOCKS AND BONDS
application
MEMBERS CLEVELAND STOCK EXCHANGE
GUARDIAN BUILDING
Hayden, Miller & Co.
Investment Bonds
INDIANAPOLIS.
A. G. EDWARDS ft SONS
Joeeph T. Elliott & Sons
Oils Wall Street
Investment Securities
In St. Louis at 410 Olive Street.
A. O.
Slaughter & Co.,
BANKERS ft BROKERS
189 MONROE STREET.
CHICAGO,
ILL.
Members Indianapolis Stock Exchange
WHITAKER
St. Louis Merchants' Exchange.
Allerton, Greene & King
THE ROOKERY. CHICAOO
RAILROAD, MUNICIPAL AND
CORPORATION BONDS
Hot
on
(INCORPORATED.)
fgttghx****-
To net 4}4% to 5%
Circular
on
J. G. WHITE ft CO.
application
300 N. FOURTH ST.
43-49 Exchange
Chictgo, Ills.
Compton Co
206 LaSalle St.
CHICAGO
MUNICIPAL
Kansu City By. A Light
Western Municipals.
Local Securities.
DEALT nr
CIRCULARS AND LIST ON APPLICATION
Ss. 1919
8s. 1944
on
all Northwestern Securities
Reports for Financing
High-Grade Bonds
Mem. Am. Sec. C. B.
H. U. WALLACE
for Investment
CHICAGO
MINNEAPOLIS. MINN.
MUNICIPAL ft CORPORATION BONDS
EDGAR
FRIEDLANDER
CINCINNATI.
.....
OHIO
^
Established 1854
H. M. PAYSON & CO.
Investment Securities
PORTLAND
.
...
MAINE
High Class 6% Bonds
90% Stock Bonus
Write tor particulars
JOHN A. BURGESS
Member Rochester Stock Exchange
194-108 Wilder Bids. ROCHESTER N. Y.
„
Ex-Supt. Illinois Centra) RR.; Chief Bnmnose
Illinois Central RR.; and Gen'l Manager Chicago
Lake Shore ft South Bend Electric Railway.
Marquette Bldg.
CHICAOO ILL.
^^■■—*‘“>-,n*>rvtrwtAAAAru,wxrux
Associated Engineers Co.
Examinations, Reports Construction, Operation
irrigation Enterprises a Specialty
INDUSTRIAL TRUST CO. BUILDING
PROVIDENCE, B. X.
Local Securities
417 Century
Bonds and Stocks
Building
DKNVER.. COLO.
BstaNsned 1889.
Gas, Electric Lighting & Railway A.
L. REGISTER
Successors to
ft CO.
Pepper ft Register
ENGINEERS ft GENERAL CONTRACTOR!
Ul Hortt Broad «ra»t PMiMiMi.
tMss. H. Parson Geo. S. Pavson Herbert Parson
ROCHESTER, N. Y.
Examinations, Reports. Surveys, Supervision el
construction and operation of Electric and Steam
Railroads, Power Plants. Transmission Unas]
Central Stations and Irrigation projects, fto.
Edmond C. Van Dlest
Robert MeF. Deblo
Thomas L. Wilkinson
PROVIDENCE.
ALBERT P. MILLER Jr.
PORTLAND. MAINE
ENGINEER
CINCINNATI
Cincinnati Securities
WELLS & DICKEY CO
SIXTY
WALL ST*
NEW YORK
Dealers in
DEALER IN
MINNEAPOLIS.
C. G. YOUNG
WEIL, ROTH ft CO.
Edwin White & Co.
ftfsfe Savings Bonk Bldg., St. Fsel
9. G. WHITE ft GO* Limit**,
• Cloak Lane. Cannon St.. B. C.
Plena Methods, Operation
Public Utilities end Industrials
Co. 1st Ss
Correspondence Invited
Powir
London Correspondents:
CINCINNATI.
t 5s, 1928
.
Electric Railways, Electric Light and
Plants, Gas Plants, Financed,
Engineering end Construction
Issues.
SAINT PAUL
Reports on Electric
Institutions and Investors.
Designed and Built.
INVESTMENT 00.
KANSAS CITY. MO
San Francises, CfeL
&
Investigations Ipd
and other
HIGH-CLASS BONDS
McCRUM
Place, NEW YORK
Qa«. Electric Tight and Power
Irrigation Systems. Ac., too
.
Mchtt.-LacMa Bldg.
ST. LOUIS
S. W. Cor. Monroe ft La Salle Sts.. Chicago.
KANSAS CITY, MO.
Engineers, Contractors
ST. LOUIS
-
INDIANAPOLIS
Fletcher Bank Bldg
Municipal Bonds
G0E2DBERQAL PAPER
H.
I WILL BUY AND SELL
Application
A. G. Becker & Co.,
NEWTON TODD
INDIANA TRACTION SECURITIES
Missouri & Illinois
William R.
W.
ft CO.
High Grade
New York Coffee Exchange.
Chicago Stock Exchange.
Chicago Board of Trade,
INDIANAPOL
American Nat. Bank Bldg..
New York Stock Exchange,
New York Cotton Exchange.
Mem her»: {New York Produce Exchange.
CLEVELAND. OHIO
Citizen** Building.
ROOKERY
CHICAGO
BORTON
OF CLEVELAND AND NORTHERN OHIO
This issue of 13,500,000 00 bonds Is a first
mortgage on property and plants valued in excess
of $8,000,000 00.
The net earnings of the Company extending
over a period of nine years since Its organisation
have averaged $1,219,649 09 per annum, or
approximately Four times the Interest and
sinking fund requirements.
The mortgage provides that the liquid assets
of the Company shall at all times be of an amount
at least equal to the aggregate debts of the
Company, including the outstanding bonds of
Price and particulars on
&
INVESTMENT SECURITIES
LISTED AND UNLISTED
Refunding First Mtge Real Estate 5s
Due June 1, 1929.
Interest payable June and December.
BORTONbnwbightT. E. BORTON
BODELL &
CO.
mining SngittssKS.
S9S TO ton BANIQAN BUILDING
PROVIDENCE
H. M. CHANCE
Consisting Mining Engineer and Geologist
Bonds and Preferred Stocks
of Proven Value.
GOAL AND MINERAL PROPKRTXN8
Examined, Dtvtlopsd, Mansgsd
887 Drexel Bldg..
PHILADELPHIA, PA
m
THE CHRONICLE
fVOL.
LXXXXI.
Stmfejev* atifl 3*«fce*s.
ERVIN & COMPANY
A. B. Leach & Go
’*
^
"•
“
■
'•>)*<■
BANKERS
•»
>■
*«* BN*k Rodioage,
BANKERS
149
jpUladphia Keek Xzehaage.
Broadway, HEW YORK
NATIONAL BANK
OF CUBA
"ttfitt&S1. }«»«#**
Aaaats
BONDS FOR INVESTMENT. Oaah is Vault*
140 Dearborn Street, CHICAGO
Drexel
mean
Bonding, Philadelphia.
-
-
-
32.900*84 68
8*81*79 19
OFFICE—HAVANA
Branches
Long Distance Telephone No. L. D. 107.
30 State Street, BOSTON
-
84 GALIANO ST.. HAVANA.
226 MONTE ST.. HAVANA.
PRODUCE EXCHANGE. HAVANA
CARDENAS.
MATANZAS.
Chestnut A 4th St, PHILADELPHIA
CIENFUEGOS,
PARKINSON & BURR
MANZANILLO.
GUANTANAMO.
SANTA CLARA.
PINAR DEL RIO.
SANCTI SPIRITUS;
CRUCES.
HOLGUIN.
NEW YORK AGENCY—1 WALL ST.
OAMAJUANI,
BANKERS
OIEGO DE AVILA,
C L HUDSON & CO.
.
14-86 WALL ST.,
HEW YOBS.
Collections
7 Wall Street
NEW YORK
tot New York and Cfelcaeo Stock Bxckansea
58 State Street
BOSTON
Specialty.
e
Sole Depositary for toe Funds off the Republic off
Cuba
Member American Bankers’ Association
750 Main Street
TELEPHONE (OTe JOHN.
SANTIAGO.
CAIBARIEN.
SAGUA LA GRANTEj
OAMAGUEY.
Cable Address—Banconac
HARTFORD
Miscellaneous Securities
E. W. CLARK & CO.
in all Markets
PRIVATE
PHILADELPHIA
891 CheetnwtSt.
Members Phila. and New York Stock Exchanges.
Intend allowed on deposit*.
N.w York Correspondent.
LS;
STOCK BBOKKBS
George P. Schmidt
Mambers N. T. and Boston Stock Exohangee.
100
Broadway,
-
NEW YORK
Frederlo Gallatin Jr.
Albert R. Gallatin
111
and Philadelphia
M. KIDDER & CO.
Telephone: SI55 Rector
BANKERS
Igr and sell on oommlsflon etooke and bonds, and
.AMU*
rJb
■!
SHUT G. Campbell
■■
an OUTSIDE SECURITIES DE¬
PARTMENT which deals particularly to the
Dividend-Paying Stocks off Railroad Supply
Companies.
- —
McCURDY,
Edwin P. Campbell
H. G. Campbell & Co.
U WALL STREET. NEW YORK
Members New York Stock Exchange
Securities Bought ASold on Commiaeion
MEMBERS N. Y. STOCK EXCHANGE
Transact
1910
DEALERS IN
WALKER BROS.
Simpson, Pearce A Co.
71
BROADWAY, N. Y.
J. S. Farlee.
H. L. Finch.
Members New Yotk Stock
W. S. Tar bell.
J. S. FARLEE & CO.
MEMBERS NEW YORK STOCK EXCHANGE.
Broker* and Dealer* U*
INVESTMENT SECURITIES
HARTFORD. CONN.
11 WALL ST.. N. Y.
D. H. Schmidt & Co.
Investment
Bonds.
Members
New
York Stock Brokings.
Investment Seeurltles
VICKERS A, PHELPS
SV
M Wall Street. New York City.
Members of Now York Stock Exchange
BONDS
dash orders only in stocks accepted
WILLIAM
STREET
NEW
YORK.
E. & C. RANDOLPH
■i
Butkan and Brake*
General Banking and Stock
Exchange Business.
Orders Executed in all Markets.
se Wall Street. New York.
SB. 74 BROADWAY,
Time Deposits and Savings Aesounti.
Norman S. Walker Jr.
John Y. G. Walker
Ex. Norton
Colgate & Co.
W. H. Goadby & Co.
on
BANKERS
ill BROADWAY, NEW YORK
a
INVESTMEMT SECURITIES
Deposits Subject to Check!
N. Y. Stock Ex.
paid
Accounts of Banks. Finns. Corporatioas aad ladNMnds
solicited. Wo ora prepared to furnish
ovary facility coosisteat with good "
MEMBERS H. Y. STOCK EXCHANGE
Members N. Y. Stock Exchange
No. SO WALL STREET.
Mom here N. Y. and Phila. Stock Exchanges
for Stocks and Bonds executed upon all
m in this country and Europe,
attention given to supplying hlgh-olan
INVESTMENT SECURITIES.
Members
interest
Members N. Y. Stock Exchango
BANKERS AND BROKERS.
Jas* B.
OFFICERS.
W.M. Ladd, Prastd—t. R. S. Howard Jr., tot Task
B. Cootdnghaai, V^Pras. J. W. Ladd, Ant. Gaskin.
W. H. Dunddey. Gash.
Walter M. Cook, Ant. Gash,
24 NASSAU STREET
NEW YORK
1852
Capital Folly Paid - - - $1*00*08
Surplus and Undivided Profit* $600,000
Effingham Lawrence A Co.
JOHN H. DAVIS & CO.
on
OREGON
HENDERSON & COMPANY
Hanover Bank Building
Interest Allowed
-
Bn.bibbed US.
Bonds and Guaranteed Stocks
William Herbert & Co.
-
PORTLAND
Wo maintain
Jamee G. Maolebn
11 fINS STREET,
Capital, $1,000*00
Cable: "Orlentment.”
Municipal. Railroad and Corporation Bonds
20 Broad Street, New York
GUARANTEED STOCKS
"
Acts as Cuban correspondent of American
banks and transacts a gsnsral banking business.
LADD &. TILTON BANK
Chas. H. Jones A Co.
RAILROAD BONDS
—'■
John B. Gardia \
Alvin W. KreohVNew York Committee
Jamee H. Poet J
Broadway
HXW YORK CITY
• NASSAU STREET. NEW YORK.
fistaHMed I860
MEMBERS QF N. Y. STOCK EXCHANGE.
Allow Interest on deposit* subject to iffbt check.
-
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vlce-Presldeut
Members N. Y. Stock Exchange
Private wine to Boeton. Hartford. New Haven
A
J. Prentice Kellogg
William A. Larned
Chas. H. Blair Jr.
SCHMIDT & GALLATIN
Td. tWO Rector
HAVANA
76 CUBA STRICT
BANKERS,
WIRES TO PRINCIPAL CITIES
Thomas L. Manson & Co.'
BANK OF
HEW YORK
Members
Ill
New
York Stock
Broadway.
New
Exchange.
York.
Open Market Securities Department
HORACE HATCH. Manager.
Dealers to Investment and Other Securities of the
United States and Canada
Firbange
Telephones
111 BROADWAY
44§§-l-2-8-4 Rector
NEW YORK
OTTO JULIUS MERKEL
BROKER
44 AND 44 WALL STREET. NEW YORK
INVESTMENT SECURITIES
Invited
Sft*
tmrnmt J^jcjcouutsmt
P. O. BOX ST. MAIN OFFICE.
WASHINGTON. D. C.
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
A MONTHLY MAGAZINE OF INTEREST TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES. BANKS. RAILWAYS
AND OTHER PUBLIC SERVICE CORPORA¬
TIONS.
TO BE FOUND IN ALL LEADING OBRTIFIBD
PUBLIC ACCOUNTANTS’ OFFICES.
Sample Copy 15 oente. Per Annum $1 50
utm. 26
THE CHRONICLE
1910.]
ftnand<L
ix
Onmnt Scat S«u|tti*i*s.
WANTED
Stone & Webster
14T Milk Street.
Cumberland Telephone a
Telegraph Co. Stock
BOSTON
First Natl. Iteak BIS a
• Nassau Street
■BW YORK
BOUGHT AND SOLD
CHICAOO
We offer for Investment
Securities of
Public Service Corporations
under tbe management
of oar organisation
yield
to
GOULDING MARR
Broker
NASHVILLE,
H. C. Splller & Co.
MUNICIPAL
5% to 6fc%
Our Manual
TENN.
-
-
) 4%
RAILROAD
> TO
CORPORATION 6%
)
Specialise In Inactive Bonds.
BOND8
27 State Street
Dra
describing these companies will be sent
upon request.
Selected lor Oonaervatlte Invertor,.
Lift, Hailed Upon Application.
Lawrence Barnum & Co.
BANKERS
Municipal Bonds
Legal for Savings Banks
and Trust Funds
R. M. GRANT A CO.
BANKERS
SI NASSAU STREET
Peoria Water-Wks. Cons. 4s &!5s
Chic. Sub. Water & Light Co. 5s
York-Haven Water Power Co. 5s
Mich. Lake Sup. Power Co. 5s
London & Chicago Contract Stk
Omaha Water Co. 5s & Stock
Leadville (Colo.) Water Co. 4s
New Hamp. El. Ry. Pref. & Com.
Raton Water-Works Co. 5s
Council Bluffs Water-Wks. Co. 6s
Glens Falls Gas & Elect. Co. 5s
NEW YORK
27-29
PINE
STREET. NEW
Philadelphia
Washington
YORK
Pittsburgh
United Sys. of St. Lonia 4s
Union E*. Lt .& P. Go. of St.L. 1st 5a
Union El. Lt.A P. Oo. of St. L. Ref. 5f
Laclede Gas Oo. of St. Louis 1st 5s
Can. 0. By .A Lt. 5s & Underly. See’s
DEALT IN BY
(ESTABLISHED 1877)
BABSON’S REPORTS
ON
Fundamental Conditions
For details oonoernlnc these Reports or our
"Business Barometers*' (which we Install In banks
both for their own and customers' use) address
Babaon's Compiling Offloes. Wellesley Hills, Mass.
NEW YORK OFFICE. 24 STONE STREET
Largest Statistical Organisation In Ac U. S.
214 North 4th Street. ST. LOUIS
Mobile A Ohio Equipments
Missouri Pacific equipments
Hudson A Manhattan Equipments
Cine. Hamilton A Dayton Equipments
Wabash Equipments
WOLFF a STANLEY
Tel. 8557 Broad
ST William St.. N. V
Union Railway, Gas A Elaetrio
Portland Railway, Light A Powei
Memphis Street Railway
ALL LOUISVILLE LOCAL SECURITIES
S. C. HENNING & CO.
118 So. 8th St..
GEORGE L. WARE
State Street, BOSTON, HASS.
T1 Broadway
NEW YORK CITY
LOUISVILLE. KY.
Commonwealth Pr
And Constituent
Telephone Main 084
FOR SALE.
Coin.
NUe^BeSent-Pond
Com.
American Investment Sec's Com.
{ffi'JssSirlej.iftSi*'-1988
WANTED.
AmeHcilt Caramel Pfd.
Pere Marquette Com.
N. E. Investment Sec's Pfd.
Waltham Watch Pfd.
Lynn Qas & Electric Co.
Atlanta Northern 5s, 1954
Page Woven Wire Fence 5s, 1922
Newport & Fall River 5s. 1954
HOTCHKIN & CO.
SPECIALISTS IN INACTIVE
SECURITIES
Stock Exchange Bldg., Boston
Telephone Main 3448
Laclede Gas Oo. of St. Louis Ref. 5a
FRANCIS, BRO. & CO.
The moat conservative bankers, brokers and
Invasion have constantly before them
.
Boston
Canton, O., Electric 5s, 1937
Oanton, O., Preferred Stock
Aurora Elgin A Chicago 5s, 1946
Seattle Lighting Go. 6s
Duluth Edison Elec. Pref. Stock
H. L. NASON A CO.
Shawntut Bank Bnfldlng,
BOSTON, MASS.
Leadville (Colo.) Water Oo. 4s
Ontario Power 5s
Helena (Mont.) Water 4s Receipts
St. Joseph (MoO Gas 5s
Elmira Water, Lt. & Ry. 1st 5s
Dayton Lighting 5s A Common
New Hamp. ElRys. Gom. A Pref.
F.W. MASON & CO. gJSftSL
WANTED
Pere Marquette RR. Common & Preferred
Omaha Water Co. 1st & 2nd Pref.
Western Power Co. Common
Monterey Light & Power 6s. 1929
Burroughs Adding Machine Co. Stock
FOR SALE
Ry a Lt
Companies'
Stocks and Bonds
Western Power Co. Common
C. H. FARNHAM
» STATE STREET. BOSTON
WM. HUGHES CLARKE
JixcmiMlsrals.
Detroit, Michigan.
WEBB & CO.
HOLDERS OF
LYBRAND,
ROSS BROS A
MONTGOMERY
Cartlflod Publlo Accountants
(Pennsylvania)
NEW YORK,
165 Broadway
Land Title Bldg
PHILADELPHIA,
PITTSBURGH,
Union Bank Bldg
CHICAGO, First National Bank Bldg
Hampton Roads Traction 4Hs
COMMUNICATE WITH
119 S. Fourth St.
Philadelphia
Members Philadelphia Stock Exchange
THE AMERICAN MFG. CO.
MANILA, SISAL AND JUTE
CORDAGE
Periodical Audits and Acoluntlng.
•
•
NEW YORK
GEO. B. EDWARDS
Tribune Building, 154 Nassau Street,
Telephone 4218 Beekman.
NEW YORK. N. Y
Negotiations,Investigations, Settlements
In or out of New York City
Satisfactory References
Now York State Railways, common
Mohawk Valley Oo.
Stoeks and Sttp.
MALCOLM
MINING COMPANIES
Investigations, Financial Statemehts,
•
Bankers
New York, Chicago, Cincinnati, and
London, England.
74 BROADWAY
George B. Atlee a Co.
JAMES PARK & CO.
CERTIFIED PUBLIC ACCOUNTANTS
INVESTMENT SEOUBITIES
S5 Wall Street.
New York
80 Broadway,
NEW YORK
STUART
Telephone:
155 Rector
THE CHRONICLE
X
Qnxxtut gjomd
[Vox.. Lxmi.
Itwptetei^
Leavenworth Terminal Railway & Bridge 5s, 1923
Cincinnati Hamilton & Dayton General 5s, 1942
Kansas & Colorado Pacific 1st 6s, 1938
Toledo Terminal Railroad 4j^s, 1957
United Electric Co. of N. J.
First Mtge* 4s, due 1949
BOUGHT AND SOLD
Wabash, Des Moines Div. 33^s, 1939
This company serves a population
of about 1,000,000, including the
cities of Newark, Jersey
Atchison ft Eastern Bridge 4s, 1928
Macon Dublin & Savananh 5s, 1947
Atlantic & Danville 1st 4s, 1948
Pere Marquette System, all issues
City,
Hoboken, Elizabeth, Bayonne, tne
Oranges and Montclair.
Wabash, Omaha Div. 3%s, 1941
Southern Indiana 4s, 1951
Continental Coal 5s, 1952
AND ALL OTHER SECURITIES DEALT IN
6. W. Walker A Co.
Tei. 100 Broad,
25 Broad 88* Now Tuft
ROOK ISLAND, FRISCO TERM.
1st 5s, due Jan., 1927
GLEV. OOL. GIN ft ST. LOUIS
F.
Oons. 6s, due Jan., 1934
INDIANAPOLIS ft ST. LOUIS
1st 7s, due July, 1919
J, LEMAN & COMPANY,
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
BROAD
STREET,
NEW
Land Title ft Trust Oo. Building,
39 Pearl
SUTRO BROS. & CO
YORK
BANKERS
PHTLADBLPHT^
44 PINE STREET. NEW YORK
Members New York Stock Exchange.
Street, HARTFORD
WANTED
Allegheny Valley 4s
LIBBEYftSTRUTHERS
Beech Creek First 4s
Pine Creek First 6s
West. N. 7. ft Pa. 1st Mtge. 6s
Choctaw Okla. ft Gulf Oons. 6s
Norfolk ft Western Equip. 4s
Schuylkill River East Side 4s
MELLOR & PETRY
Pennsylvania Gen. Frt. Equip. 4s
Syracuse Rapid Transit 1st 6s
Lehigh Goal ft Nav. Coll. Tr. 4>£s
New Haven 6s
Members
New Tork andlPhiladelphla Stock Exchange
104 S. Fifth Street
Philadelphia
We Offer
300
H.
Saratoga 7s
Oregon Short Line 5s
Oregon Short Line 6s
Manufacturers Water Co. 1st 5s
WANTED
NATIONAL FUEL GAS
OF
GEORGIA
5% GUARANTEED STOCK
J
Rennselaer &
SHARES
SOUTHWESTERN
HILSMAN
Long Island tJnified 4s
0.0. C. A St. L., Cairo Div. 4s
Col. ft Southern 1st 4s
FERRIS a WHITE,
Tel. 6127-8 Hanover
T.W. STEPHENS & 00. FREDERIC H. HATCH & CO.
A CO.
UMPIRE BUILDINQ. ATLANTA. QA.
BANKER*
S WALL
STBSR, OTW TOBX.
INVESTMENT
New Tork
Boston
80 Broad Street
50 Congress Stssst
Private telephone between New York mad Boston
WE TRADE IN
Allentown (Pa.) Qas Co. 5s, A .ft O., 1984
Atlanta (Qa.) Qas Light Co. 5s. J. ft b.. 1947
Chester County (Pa.) QasCo. 6a. J. ft f>.. 1985
Harrisburg (Pa.) Qas Co. 6s. F. A A.. 1988
Kansas City (Mo.) Qas Co. 5s. A. ft O.. 1988
Peoria Qas ft Elect. Co. 5s. J. ft j.. 198S
Scranton (Pa.) Elect. Co. 5s, J. ft J.. 1987 '
Syracuse (N. Y.) QasCo. 5s, J. ft J.. 1948
Syracuse (N.Y.) Lighting Co. 5s. J. ft D., 1981
BONDS
Interest allowed on accounts of
Individuals and Corporations
8T WaU St.. N. Y.
We Want to Buy
Catawba Power 6s
Wladikawkas Ry. 4s
Washington Water Power 5s
Lehigh Valley of N. Y. 4 Ms
Cuban Qovernment Internal 5s
Newburgh ft Orange Lake 5s
Kanawha & Hocking Coal ft Coke 5s
J. H. BECKER A CO.
Tel. 985 Hector
400 Chestnut Street. Philadelphia.
Richmond-Washington Oo. 4s
56 Cedar Street
HEW TORK
Gettysburg & Harrisburg 5s
Robt.GlendinningftCo.
80 Broadway. New York
WANTED
Qrand Rapids Ry. Co. 1st M. 5% Bonds, due 1915
OFFER
"•
Pow«
Sutton,
Strother & Co.,
Calvert and Gorman Stracts
We offer
REED A. MORGAN & CO.,
$25,000
West End Trust Bldg., Phils., Pa.
Members of the Philadelphia Stock Bxehaags
Niagara Lockport & Ontario
Telephones. /Bell-Spruce 81-SI.
I Keystone-Race 90S
Power Co.
Firstpitg.. 5% Sink. Fund Gold Bonds
due November 1st 1954.
Price 90 ft int.
Yielding
BURGESS, LANG A CO.
NEW YORK1*1*™* *** BOSTON
S4 Pine Street
Impt. 5s,
BLAKE & REEVES
tw. 1604 John
64 Pin. StTMt. N.W Twk
50 State Street
Telephone 8417-8-9 John
BALTIHOR1
Members af BaltUaaie Stack Ixcham
5.60%.
Exempt from taxation hi New York State
Chicago ft N. W. 7s, 1915
Ohes. ft Ohio Gen. Fond
Jan. ft July, 1929
Morris ft Essex 7s, 1914
Morris ft Essex 7s, 1915
First
WANTED
Indianapolis Trac. & Terminal First 5s. 19SS
Susauehanna Bloomsb. & Berwick 1st 5s, 1958
Union Traction Co. of Indiana First 5s. 1919
■Susquehanna Blooms burg ft Berwick RR. Stock
Mortgage 6s
We offer two such issues earning
over three times the bond interest
a
BON DS
Baker, Ayling & Company
BOSTON
PhHadelphlft
Prevldence
SAM U EL K. PH ILLI PS &, CO.
421 Chestnut SL
Philadelphia
Members of Philadelphia Stock
Exchange.
NOTES
Baltimore ft Ohio
4^s, 1913
Boston
Congress Street,
tax
CURTIS A SANGER
49 WaH Street
NEW YORK
8
We desire
Interborough R. T. Co. 68,1911
Westinghouse El. ft Mfg. 6s, 1913
Members N.Y..Bo*tonftCfcicage Stock
Pingree, McKinney & Co.
Boston.
offerings of free of
bonds
in
the
State
of
Pennsylvania
Bzehaiges
WURTS, DULLES ft OO.
Chicace
US S. FOURTH ST..
PHILADELPHIA
Telephone Lombard 1000*1091
Vov. 26
THE CHRONICLE
1910.]
xi
9nvemt SSotid Stuptiviies.
19th Ward Bank
12 th Ward Bank
Amer. Gas & Elect. Co. Preferred
American Graphophone Co. Preferred
Hudson Companies Preferred
Cons. Water Co. of Utica Common
St. Louis & San. Fran RR. 4 Ms, 1912
Lehigh & Hudson River Deb. 4s, due 1920
Cons. Water Co. of Utica Gen. 5s, due 1930
RR. Securities Co. 4s, 1952
ilex. Int. RR. 1st Mtge. Stamped 4s, 1977
Glide, Wfnmlll
&Co.
BANKERS
80 BROAD STREET, E.
Y.
Telephone 445-6-7 Rector
Chic. & N. W.
(new) Gen. 4s, 1987
L. Sh. & Mich. So. Deb. 4s, 1928-31
Oregon Short Line Ref. 4s, 1929
Rock Island Ref. 4s, 1934
Amer. Ice Sec. Deb. 6st 1925
Reading General 4s, 1997
INVESTMENTS
The methods employed by conservative Investors In choosing their investments, is based on
a close analytical study of all the fundamental factors
affecting the Investment, such as the
t?e Property pledged, the ability of the Company
to continue earnings, the general
standing of the Company, and the maturity, price, yield and market of their
gSpuntles. These are points upon which every prospective Investor should be Informed.
_ine ability to judge of the relative value of these several points Is only brought to perfection
«»Md
through
We
years of
are
well-balanced investment containing
YIELDING 4.80%
4.90%
4.80%
6.00%
The average income on the above is over 6%. These bonds have been selected because
they meet our ideas of a conservative investment.
Send for our Circular No. I—7
“NEWROSB”
PRIVATE WIRE TO ST. LOUIS
Schwarzschild & Sulzberger 6s, 1916
Chicago Subway 5s, 1928
Columbia Gas & Electric 5s, 1927
O’Oara Coal Co. Bonds and Stock
American Malting Co. 6s, 1914
U. S. Motors Stock.
General Motors Stock
International Text Book Stock
We buy or sell all unlisted and inactive securi¬
ties and specialize in coal company bonds.
"
“
"
Guaranty ofTrust
Company
New York
28 Nassau Street, New York
Brandi Offices
5th Ave. A 43d St., New York
33 Lombard St., London, E. 0
Municipal, Railroad and
Public Service
J. K. Rice, Jr. A Go. Will Sell
40 Adams Express
Corporation
BONDS
MEMBERS N. T. STOCK EXCHANGE
60 BROADWAY. N. Y.
Cable Address,
a
-
NEWBORG & CO.,
Telephone 4390 Rector,
experience.
recommending to our clients
A RAILROAD BOND.
A SHORT-TERM NOTE
R. M. Stinson fit Co.
North Anuricui Bid,..
PHILADELPHIA
Members Philadelphia Stock Exchange
’Phones Bell Walnut 2290
Keystone Race 499
Mt. Morris Elect. 5s, 1940
New Amsterdam Gas 5s, 1948
Yonkers St. By. 5s, 1946
N.Y.A Queens El. Lt. A P. 5s, 1930
2nd Ave. Cons. 5s, 1948, Tr. Go. Gtfs.
Columbus A 9th Ave. 1st 5s, 1993
PATERSON & CO*,
Tel. 1986-6-7 Rector
MEGARGEL & CO.
20 Broad St.. N. Y
FOR SALE
50 American Caramel com.
800 American Stogie com.
100 Brooklyn Warehouse Storage
200 Fajardo Sugar
60 Grand Rapids & Indiana
60 Herring-Hall-Marvin
50 Kings Co. Elec. Lt. & P.
50 Knickerbocker Trust
20 Nat. City Bank
28 Nat. Lt. H. & P. pfd.
35 New York Curtain
120 Phelps Dodge & Co.
100 Pope Manufacturing com.
100 Pope Manufacturing pfd.
125 Safety Car Htg. & Ltg.
88 Sen sen Chiclet
27 Singer Manufacturing
100 Tri-City Ry. & Lt. com.
104 Wells Fargo Express
143 Western Pacific Ry.
50 Whitman & Barnes Mfg.
We have GOOD MARKETS In unlisted and
inactive securities and respectfully Invite inquiries
J
K. Rice. Jr. & Co,
’Phones 7440 to 7455 Hanover. 33 Wall St., N.Y.
Wheeling & Lake Erie Railroad
5 Nassau Street
NEW YORK
Atchison Gen. 4s, 1995
Florida Southern 1st 4s, 1945
Missouri Pacific Gons. 6s, 1920
North A South Alabama 5s, 1936
L. A N., Monon Joint 4s, 1952
Equipment Trust 5s, duo 1922
Price, 98 & Int., to yield 5.25%
GILMAN & CLUCAS
1st Nat. Bank Bldg.,
NEW HAVEN. CT.
84 Pine Street
NEW YORK
The highest authorities declare
PORCUPINE
Tel. 7750 1-2-3 Hanover
27 WaB Street
NEW YORK
The greatest gold camp in the world
Learn about it before the rash
Write us to-day for information
DOUGLAS FENWICK & CO.
Tel. John 109
Railroad and Other
Investment Bonds
WARREN, GZOWSKI & CO.
Members Toronto Stock
25 Broad Street,
Exchange
New York.
Equipment Bonds and Car Trusts
Swartwout &
Appenzeilar
BANKERS
New Haven Registered 3^s, 1954
Duluth A Iron Range 1st 5s, 1937
N.Y. Lake Erie A Western 7s, 1920
Mohawk A Malone 4s, 1991
Kansas Gity Southern 5s, 1950
Edison El. Ill. Co.(Bklyn ) 4s, 1939
East Tenn., Va. Ga. Div. 5s, 1930
B. A O. 4^% Notes, 1913
44 Pino Street
jottpbWalktrSSoiK
LAM ARCHE &
Coffin & Company
NEW YORK.
OFFER
Tol. A Ohio Gent., Western Div. 5s
Nashville Ohatt. A St. Louis 7s
Ogdensburg A Lake Ohampl. 4s
Ohic. Indiana A Southern 4s
Nevada-Californla Power Co. bonds and stock
Denver ft N. W. Ry. 5s and stock
Northern States Power Co.
Denver Gas 4 Electric 5e
Northern Idaho ft Montane Power Co.
NEW YORK CITY
DENVER, OOLO.
American Light A Tract. Go. Stocks
Pacific Gas A Electric Go. Stocks
WANTED
Celluoid Company Stock
Somerset Union & Middle*
Tri-City By. Light Go. Stocks
International Nickel Go. Gommon
Federal Light A Tract. Go. Stocks
Ltg* Stock
Fidelity-Phenix Insurance Go. Stock
BOUGHT AND SOLD
Tel. 5775-0 Broad.
35
COADY,
Broad
3t.. N. Y
W. E. R. SMITH & CO..
80 Broad Street
New
Yor
West. New York & Penna. 5s
Central Vermont 4s
Chicago City & Connecting 5s
Missouri Pacific, Central Branch 4s
Florida Southern 4s
Dallas & Waco 5s
Long Island Debenture 5s
Chesapeake & Ohio Refunding 5s
Minneapolis & St. Louis Notes, 1911
Atlanta Birm. & Atl. 5s, 1911
St. L. Iron Mt. A Southern 5s
Lake Erie A Western 1st 5s
Wheeling A Lake Erie 1st 5s
Indianapolis A St. L. 7s, 1919
49 Wall Street
JAMES N. WRIGHT & CO
Members N. Y. Stock Exchange
.
G. K. B. WADE
Tel. 6744 Hanover
24 WALL ST
Members New York Stock Exchange,
20 Broad St.
New York.
Private wire to Philadelphia.
Edward V. Kane & Go.
MORRIS BUILDING. PHILADELPHIA.
Telephones,Bell-Spruce 3782. Keystone,Race 530.
EYER A COMPANY
New Orleans Mobile A Chicago 5s
New Mexico Railway A Goal 5s
New York Municipals
New Jersey Municipals
Ohio Municipals
WANTED
Danv. Urb. A Champ. Ry 5s, Mch/23
Decatur Ry. A Lt. Go. 5s, Dec. 1933
Peoria Gas A Elec. 5s, Jan. 1923
Toledo Fremont A Norw. 5s, Jan. 1290
Metropolitan St. Ry. 5s, 1911
Second Avenue 5s, 1911
WERNER BROS* & GOLDSCHMIDT
T.L 4800-1-24-4-5 Broad.
25 Broad Street, N. Y,
THE CHRONICLE
[Voi.. uxxxxi
ftwcndKl.
gtaatticisl.
New York, November 19, 1910.
THE CANADIAN PACIFIC RAILWAY COMPANY
DIVIDEND NO. 88.
TO THE HOLDERS OP
Stock of the
Company for the quarter ended 30th September.
1910, being at the rate of 7% per annum from
revenue and 1 % per annum from Interest on the
proceeds of land sales. Is hereby declared, payable
on 31st Deoember next to shareholders of record In
Montreal* New York and London at 3 p. m. on
Wednesday, 30th November Instant.
Warrants will be mailed on 30th December next.
By order of the Board.
W. R. BAKER. Secretary.
Montreal. 14th November, 1910.
A dividend of Z% on the Common
ConsalidatMl (First) Mortgage Bonds Amounting to
$2,728,006 of the
DAYTON & MICHIGAN RAILROAD COMPANY, dated
January 1st, 1881, maturing January 1st, 1911.
Pursuant to arrangement with the Dayton & Michigan Railroad Company and J. P. Morgan
Co., the undersigned, the lessee of the Dayton $ Michigan Railroad Company, under lease dated
May 1st, 1863, amended June 23, 1870, hereby gives notice that by complying with the terms stated
below, the holders of said bonds may have the same extended so that they shall mature January 1st,
1931, with interest at the rate of 4
per annum, payable semi-annually on the first days of January
and July In each year, at the office or agency of the undersigned In the City of New York, the Railway
Company reserving the right at Its option to redeem on January 1, 1917, or on any Interest date
thereafter, by payment of a premium of two and one-half per cent and accrued Interest, provided
notice of the election so to redeem be published as In the Extension Supplement provided.
THE PRESENT MORTGAGE SECURITY, CONSISTING OF A FIRST LIEN ON THE
ENTIRE RAILROAD OF THE DAYTON & MICHIGAN RAILROAD COMPANY, EXTENDING
FROM DAYTON, OHIO, TO TOLEDO, OHIO, WILL REMAIN UNIMPAIRED.
The holders of such bonds are referred to the announcement of J. P. Morgan A Co., hereto
appended, as to the terms of the extension offer.
&
The Cincinnati Hamilton &
Dayton Railway Company,
Referring to the above notice, the extension privilege applies only to the holders of such bonds
who deposit the same with the undersigned at their office, 23 Wall Street, New York, on or before
December 15. 1910.
A CASH PAYMENT OF $5 PER $1,000 BOND WILL BE MADE TO SUCH
DEPOSITORS; AND THE JANUARY 1, 1911, COUPONS, IF PRESENTED; WILL BE CASHED
AT THE TIME OF SUCH DEPOSIT.
Upon such deposit, temporary receipts will be Issued, exchangeable for bonds with the Extension
Supplement and new coupon sheet attached thereto when prepared.
Copies of the Extension Supplement may be had on application at the office of the undersigned.
At any time on or prior to January 3, 1911, at their office, the undersigned will buy, at par and
interest, the bonds of such holders as do not desire to avail themselves of the above privilege of ex¬
tension.
J. P. MORGAN
& CO.
&
SANTA
FE
_
Coupons due December 1,1910, from The Atchi¬
son
Topeka & Santa Fe Railway Company
CONVERTILBE GOLD BONDS will be paid
on and after that date upon presentation at the
office of the Company. No. 5 Nassau Street, New
York City.
No. 12 from Fifty-Year Four Per Cent Con¬
vertible Gold Bonds;
No. 7 from Ten-Year Five Per Cent Converti¬
ble Gold Bonds;
No. 3 from Four Per Cent Convertible Gold
Bonds, Issue of 1909;
No. 1 from Four Per Cent Convertible Gold
Bonds, Issue of 1910.
C. K. COOPER, Assistant Treasurer.
THE CHESAPEAKE & OHIO
RAILWAY COMPANY.
71 Broadway, New York City,
November 17, 1910.
The Board of Directors has declared a QUAR¬
Street, New York,
November 19, 1910.
TOPEKA
RAILWAY COMPANY.
By WILLIAM COTTER, President.
23 Wall
ATCHISON
THE
TERLY
DIVIDEND
OF
ONE
AND
ONE-
QUARTER PER CENT upon the capital stock
of this Company, payable December 31, 1910, to
stockholders of record on Deoember 9, 1910.
The transfer books will not be closed.
CHECKS will be mailed to stockholders at the
addresses recorded upon the books of the Com¬
pany.
JAS. STEUART MACKIE, Treasurer.
BROOKLYN RAPID TRANSIT COMPANY.
New York, November 18th, 1910.
The Board of Directors has this day declared
a quarterly dividend of ONE AND ONE-QUAR¬
TER PER CENTUM on the capital stock of this
Company, payable January 1st, 1911, to stock¬
holders
of
record
the
at
business
close, of
on
Saturday, December 10th, 1910.
C. D. MENEELY, Secretary and Treasurer.
IOWA CENTRAL RAILWAY COMPANY.
Coupons due December 1, 1910, from First
Mortgage 5% bonds of this company will be paid
COUPONS DUE AND PAYABLE AT THE OFFICE OF THE
and after that date at the office of the Mercan¬
tile Trust Company, 120 Broadway, New York.
F. H. DAVIS, Treasurer.
on
UNITED STATES
MORTGAGE & TRUST COMPANY
55 Cedar Street, New York
ON AND AFTER DECEMBER 1ST, 1910
Akron A Barberton Belt RR. Co.
Norfolk, Conn., Sewer
1st
4s North California Power Co.
Bellingham Bay A British Col. RR.
Co. 1st—
5s
Brooklyn A Montank RR. Co. 2d.5s
Butte Electric A Power Co. 1st...5s
City Oas Co. of Norfolk, Va., 1st. ,6s
Corinth, N. Y., Sewer
4>£s
Dawson, Ga.', Water-Works
5s
Elberton, Ga., Sewer
4^s
3s
Elyria, Ohio, Water-Works.
Essex County, N. J., Bridge
4s
Fulton, N. Y., Water..
,3.40s
Griffin, Ga., City Hall, Street and
School
.4J^s
Huntington Railroad Co. 1st
5s
Lockport, N. Y., Water
4s
Long Island RR. Co. General
4s
Long Island RR. Co. Debenture. .6s
Long Island RR. Co. Stewart Line4s
Memphis, Tenn., Certs. of Indebt_
ness
GENERAL MOTORS COMPANY.
November 12, 1910
The Board of Directors of GENERAL MOTORS
COMPANY has declared a dividend of Three and
4s
One-Half (3H%) Pear Cent on the Preferred Stock
of the Company, to be paid on November 30.1910,
to the Stockholders of record at the close of busi¬
ness November 21. 1910.
The Preferred Stock Transfer books will bo
closed at the close of business November 21, 1910.
and re-opened November 30, 1910.
CURTIS R. HATHEWAY
Refdg.
&Con___,
5s
Nyack, N. Y., Water
4s
Oswego, N. Y., Water
._4^s
Overpeck Township, N. J
-6^s
Oxford, N. C., Refunding
.6s
Prescott, Ariz., Water (Dec. 16
1910)
5s
Spring Lake, N. J
5s
South Porto Rico Sugar Co. Coll.
Trust
6s
Suffem, N. Y., Water
3>£s
Sullivan, Ind., Water.
__6s
Syracuse, N. Y., Local Imp
4s
Tampa, Fla., Refunding
5s
Tampa, Fla., Park
5s
Tampa, Fla., Street and Sewer
5s
Territory of Arizona Building
_6s
Toledo, Ohio, Street Imp. 4s and
_
various others
_6s
Township of Franklin, N. J., Road
4)^s
Imp
4s
5s United States Mortgage A Trust
Millbum, N. J., Sewer
Monroe, Ga., Water-Works
Monroe, La., Improvement
5s
Co., Series “E”___
4s
Montauk Water Company 1st
5s Washington Ry. A Elec. Co. Cons_4s
Mutual Electric Light Co.
4s
Yuba Electric Power Co. 1st
6g
Treasurer.
GENERAL MOTORS COMPANY.
PREFERRED STOCK TRUST CERTIFICATES
Referring to the foregoing notice of General
Motors Company, checks for the dividend, when
received, will be mailed to the holders of Preferred
Stock Trust Certificates of record at the dose of
business November 21, 1910.
The Preferred
Stock Trust Certificate transfer books will be
closed for the period during which the preferred
stock transfer books of General Motors Company
are to be closed as above stated.
CENTRAL TRUST COMPANY OF NEW YORK
Agent for Voting Trustees.
UNITED STATES OF MEXICO
*% Gold Debt of 1*04.
Coupons due December 1st, 1910, of the above
bonds will be paid on presentation at our office
,
on
and after that date.
SPEYER &, CO.,
24-26 Pine Street.
New York, November 26, 1910.
REPUBLIC
IRON
&
STEEL COMPANY.
DIVIDEND NO. 36.
At a meeting of the Board of Directors of the
Republic Iron & Steel Company, held November
15tn ,1910, the regular quarterly dividend of 1 X %
on the Preferred Stock was declared payable Jan¬
uary 2nd, 1911, to Stockholders fo record De¬
cember 17th, 1910.
Books remain open.
H. L. ROWND, Secy. & Treas.
of THE CONSOLIDATION COAL CO.
Baltimore, Md., November 25th, 1910.
Coupon No. 4, due December 1st, 1910, from
the Kentucky First Mortgage Five Per Cent Sink¬
ing Fund Gold Bonds or this Company, will be
paid upon presentation on and after Deoember
1st. 1910, at the office of the Guaranty Trust
Company of New York, No. 28 Nassau Street.
New York City.
T. K. STUART, Asst. Treasurer.
Office
United Breweries
Chicago
Company
Public sale by A. H. Muller & Son, 16 Vesey
Street, New York City, November 30, 1910, at
12:30 P. M.
The undersigned will sell at auction
at the above time and place $246,000 6% bonds
due 1928 (10
bonds with privilege of the lot), and
preferred stock (100 shares with
privilege of the lot), of the above company.
They will be offered In three or more parcels.
Circulars may be obtained at
THE NEW YORK TRUST COMPANY,
Depositary,
OTTO T. BANNARD, President.
,26 Broad Street, New York City.
1,463
shares
AMALGAMATED ASBESTOS CORPORATION.
LIMITED,
_
,
Montreal, Canada.
Coupons due December l, 1910, on the First
Mortgage 5% Gold Bonds of the Amalgamated
Asbestos Corporation, Limited, will be paid on
and after that date on presentation at the Bank
of Montreal In New York City, The Royal Trust
Company In Montreal and Toronto, and the chief
office of the Bank of Scotland in London, England.
R. P. DOUCET, Treasurer.
GENERAL CHEMICAL COMPANY.
25 Broad Street, New York .November 18,1910.
The regular quarterly dividend of ONE AND
ONE-HALF
January 3,
PER CENT (1«%) will be paid
1911, to preferred stockholders of
Tuesday, December 20, 1910.
JAMES L. MORGAN, Treasurer.
record at 3 p. m.,
GENERAL CHEMICAL COMPANY.
25 Broad Street, New York, November 18,1910.
The regular quarterly dividend of one and onehalf per cent (1 H%) will be paid January 3, 1911,
to preferred stockholders of record at 3 p. m.,
Wednesday, December 20, 1910.
JAMES L. MORGAN. Treasurer.
CENTRAL LEATHER COMPANY.
47 John St., New York, Nov. 22d, 1910.'"*
A dividend of $1 75 per share on its Preferred
Stock has this day been declared by the Board of
Directors of this Company, payable January 3d,
1911, to stockholders of record Deoember 10th,
1910.
GEO. W. PLUM. Treasurer.
.
Nov.
261910.]
THE CHRONICLE
PnUUntf*.
Bonds and Coupons
December
%xn»t @jcrmpa«tea.
Maturing
1, 1910,
Payable at the Office of
Central Trust Co.
CHARTERED IN 1830.
NEW YORK LIFE INS. & TRUST CO.
52 WALL
ST., NEW YORK.
Grants Annuities.
Accepts Trusts created by will or otherwise. Manages
Agent for the owners. Allows interest on deposites payable
after ten days1 notice.
Legal Depository for Executors,
Trustees and Money in Suit.
Property
of New York
54 WALL STREET
as
.
ACCEPTS ONLY PRIVATE TRUSTS AND DECLINES ALL CORPORATION
OR OTHER PUBLIC TRUSTS.
COUPONS
Albany Railway Oo.
General Mortgage 5%.
Consumers’ Gas Co. of Chicago
1st Mortgage 5%
National Enameling A Stamping Co.
Refunding 1st Mtge. 5%
Toledo & Ohio Central Ry. Co.
General Mortgage 5%
Ulster & Delaware Ry. Co.
1st Consolidated Mtge. 5%
United Traction Co. (Albany)
Consolidated Mtge. 4^4%
United States Rubber Oo.
Coll. Trust Sinking Fund 6%
Report of Condition
at the Close of Business
„
^
RESOURCES.
Bonds
and mortgages
33.820.324
Stock and bond investments, viz.:
Public securities, market value
1.351.375
Other securities, market value
11.060,498
Loan*
19,090,095
Overdrafts, secured
64,890
Rea* estate
2,662,923
Due from trust companies, banks
and bankers
1.032.718
„
---
Legal-tender notes and notes of
tional banks.
Maturing December 30th
Matanzas Water Works Co.
80
00
57
77
49
26
49
5,000,000 00
Specie
na¬
200.000 00
Other assets, viz.:
Suspense account
427,728 91
846,268 72
49,974 04
Accrued Interest entered
Accrued Interest not entered
on
the 10th
day of November, 1910.
LIABILITIES.
Capital stock...
31.000.000 00
Surplus, Including all undivided
profits
4.194,172 64
Reserved for taxes
Preferred deposites
3,083 33
Deposits (not preferred)
companies, banks and
Due trust
bankers
Total
HENRY
2,447,722 53
38,916,857 79
95,902 23
Deposites_$36,460.482 55
Other liabilities, viz.:
Life Insurance
Annuities
Accrued Interest entered
Contingent account
Accrued Interest not entered
General account Interest
$46,606,798 05
Virginia-Carolina Chemical Go.
1st Mortgage 5%
1st
xm
882,410 32
2,218.344
630,442
1.129
39,743
676.989
07
25
24
95
70
$46,606,798 06
PARISH, President.
WALTER KERR, 1 at Vice-President.
ZEGER W. van ZELM, Ass’t Secretary.
HENRY PARISH JR.. 2d Vice-President.
IRVING L. ROE. Ass’l Secretary.
S. M. B. HOPKINS. 3d Vice-President.
J. LOUIS van ZELM. Ass*t
Secretary.
Mortgage 5%
GEORGE M. CORNING. Secretary.
JOHN O. VEDDER, Asst Secretary
TRUSTEES.
Charles Q. Thompson.
WINSLOW, LANIER & CO.
Henry Parish.
Frederic W. Stevens.
Stuyvesant Fish,
Edmund L. Baylies,
George S. Bowdoin.
Henry C. Hulbert,
Henry A. C. Taylor.
59 CEDAR STREET.
NEW YORK.
THE
FOLLOWING COUPONS AND DIVI¬
DENDS ARE PAYABLE AT OUR BANKING
HOUSE ON AND AFTER-
C. 0*D. Iselin,
W. Emlen Roosevelt,
H. Van Rensselaer Kennedy,
John Jacob Astor.
George G. De Witt.
Cornelius Vanderbilt.
John McL. Nash.
Joseph H. Choate,
Samuel Thorne.
John L. Cadwalader,
Augustus D. Juililard,
Henry Lewis Morris.
Cleveland H. Dodge,
Thomas Denny,
Lincoln Cromwell.
Pan! Tucker man.
DECEMBER 1ST. 1910.
American Cotton Oil Co.
Hudson Trust
Preferred Stock Divi¬
dend. 3%.
2M%.
(quarterly, 1 H%).
Cleveland & Pitts. RR. Co. Spl. Stk. Div. (quar¬
terly, 1%).
Grant County, Indiana, Gravel Road 6s.
Marlon County. Indiana. 3 Ha Refunding Bonds.
Pendleton, Indiana, School 6s.
Special Connection Wanted
LIVE ORGANIZER AND BUILDER
PUBLIC
SERVICE CORPORA¬
OF
TIONS AND WORKS, THOROUGHLY
COMPETENT BY EXPERIENCE TO
EXAMINE
MERITS
AND
OF
REPORT
ON THE
INVESTMENT
OFFER¬
Pittsburgh Ft. Wayne & Chicago Ry. Co. 1st INGS IN GENERAL, ABLE TO BUILD
Mtge. 7s, series “F ”
UP AND SUCCESSFULLY CONDUCT
Pittsburgh Ft. Wayne
Chicago Ry. Co. 2nd
THE SELLING OF SECURITIES, NOW
Mtge. 7s, Series “M.”
Portsmouth, Ohio, Sewer & Street Improvement
Bonds.
Randolph County, Indiana. Sinking Fund.
DECEMBER 3RD. 1910.
DESIRES TO REPRESENT SOME RE¬
EASTERN
LIABLE
INVESTMENT
BANKERS AT
IN
DECEMBER 7TH. 1910.
Greenfield, Indiana, 6% Bonds. Series No. 2.
DECEMBER 10TH. 1910.
LIMITED BUSINESS.
DECEMBER 15TH. 1910.
Grand Haven, Michigan, Refunding Bonds.
WANTED.
business
November 5 1810.
Checks will
be
mailed to stockholders who have filed permanent
dividend orders.
JAMES F. FAHNESTOCK. Treasurer.
MASON CITY & FORT DODQE
RAILROAD CO
The ooupons of the First Mortgage bonds of this
Company due Deoember 1st. 1910. will be paid
.
and after that date on presentation at the
offioeof J^ P. Morgan A Co.. 23 Wall Street,
New York.
on
j. F. COYKENDALL. Secretary.
Chicago, Ill., November 19th. 1910
-
.
HIS
OWN
NO SALARY
36.
ADDRESS
H., CARE “CHRONICLE,”
P. O. BOX 958, NEW YORE.
DECEMBER 20TH. 1910.
Marion County. Indiana, Refunding 3 Ha.
Portsmouth, Ohio, Levee A Embankment 4s.
DECEMBER 30TH. 1910.
Indianapolis, Indiana, Refunding 4s.
THE PENNSYLVANIA RR. CO.
Philadelphia. November 1 1910.
The Board of Directors has this day declared a
quarterly dividend of One and one-half per cent
(Seventy-five cents per share) upon the Capital
Stock of the Company, payable on and after
November 30 1910 to stockholders as registered
upon the books of the Company at the close of
AGE
WITH
0.
P.
Official Statement (Condensed) November 10 1910.
RESOURCES.
Bonds of City and State of New York
(Market Value)-_i
3838,999 00
Sundry Stocks and Bonds (Market
Value)
212,471 00
N. Y. City Real Estate Mortgages167,049 42
Demand Loans
915,512 62
Time Loans and Bills Purchased
1,935,796 46
Real Estate
Furniture and Fixtures
Rent paid in advance
Accrued Interest Receivable
Cash on hand and due from Banks.
$500,000
500,000
111,999
3,512
10,113
Surplus
Undivided Profits
Reserved for Taxes
Interest Accrued Payable
Dividends Unpaid..
DEPOSITS
_
15,096
12,000
2,000
11,327
876,783
59
00
00
49
23
34,987,035 81
LIABILITIES.
Capital
00
00
81
53
55
273 00
3,761.136 92
-
DETROIT, MICHIGAN,
CONNECTION
Marlon County. Indiana, Funding 3 J$s.
Marion County, Indiana, Refunding 4s.
Company
Broadway and 39th St., N. Y.
American Cotton Oil Co. Common Stock Dividend,
Blackford County. Indiana, Court House 5s.
Cincinnati Richmond & Ft. Wayne Ry. Co. 1st
Mtge. 7s.
Cleveland A Pitts. RR. Co. Reg. Stock Dividend
John Claflin.
34,987,035 81
OFFICERS.
ELVERTON R. CHAPMAN, President
LOUIS H. HOLLOWAY, Vice-President
HENRY C. STRAHMANN, Vice-President
JOHN GERKEN, Vice-President
HENRY G. LEWIS, Treasurer
RICHARD A. PURDY, Secretary
Hjodtijcjes.
CINCINNATI
BOND SALESMAN
WANTED
Bond House, with affiliated
offices in four large cities, desires
experienced salesman.
Experi¬
ence in Connecticut or New Hamp¬
shire
and
Vermont
preferred.
an
Address “X. Y. Z.,” care Com¬
mercial
& Financial
Ohronicle,
P. O. Box 958, New York City.
INDIANAPOLIS ST. LOUIS &
CHICAGO RY. CO.
Grand Central Terminal.
New York, Nov. 18, 1910.
The undersigned Sinking Fund Commissioners,
under the C. I. St. L. A C. Consolidated Six Per
Cent Mortgage, hereby certify that we have this
day made a drawing of bonds to be applied to
Sinking Fund Account as of Nov. 1, 1910, In ac¬
cordance with the provisions of the mortgage,
and that bonds bearing numbers as follows, viz.,
283 , 397, 534 , 790, 901 and 914, have been drawn
for such purpose, that interest on said bonds shall
cease on ana after the first day of May, 1911, and
that the bonds will be taken up on that day at
105 per cent and accrued interest at the offloe of
J. P. Morgan A Co., New York.
W. O. BROWN,
w
W. A. WILDHAOK.
W. P. BLISS.
Sinking Fund Commissioners.
TVnfc and Trust
Company Stocks
NEW YORK AND BROOKLYN
BOUGHT AND SOLD
CLINTON
2 WALL ST.
GILBERT
NEW YORK
*
'j? f
R. T. Wilson & Cob
38 WALL STREET
NEW YORK
J
THE CHRONICLE
XIT
{VOL.
LXXXXI.
ffitumcial.
$7,000,000
PITTSBURGH STEEL COMPANY
SEVEN PER CENT CUMULATIVE PREFERRED STOCK
(CONSISTING OF 70,000 SHARES OF $100 PAR VALUE EACH.)
Dividends
payable quarterly at the rate of seven per cent (7%) per annum from December 1,
as to both dividends and principal over the Common Stock.
The entire
issue of Preferred Stock redeemable by the Company, on any dividend date, at one
hundred and twenty per cent (120%) of its par value, together with all
accrued dividends thereon, upon three months’ previous notice.
Preferred
1910.
[
No mortgage can
be placed
the Company’s property,
upon
nor any
portion thereof,
nor can
the
increased without the written consent of the holders
of at least three-fourths of the Preferred Stock outstanding.
amount of the Preferred Stock be
The
Capitalization of the Company will be
as
follows:
Seven Per Cent Cumulative Preferred Stock
Common Stock
.
.
.
.
.
.
.
.
.
$7,000,000
7,000,000
A VERY
LARGE AMOUNT OF THE ABOVE PREFERRED STOCK HAVING BEEN
SOLD, WE OFFER THE BALANCE, SUBJECT TO PREVIOUS SALE OR ADVANCE IN
PRICE,
AT $100 PER SHARE,
DELIVERABLE AND PAYABLE IN NEW YORK FUNDS AT OUR OFFICE
ON DECEMBER I, 1910.
Temporary Certificates will be delivered, exchangeable for Definitive Certificates when
ready.
/--
••
■■■
*
The
Registrar of the Preferred Stock is the Union Trust Company of New York.
a letter from Wallace H. Rowe, Esq., President of the Pittsburgh
Steel Company, addressed to the undersigned, as well as to a balance sheet certified to by Messrs.
Deloitte, Plender, Griffiths & Co., Certified Public Accountants, copies of which may be obtains 1
Reference is made to
at
office.
our
Application will be made in due
Exchange.
New
course
to list the Preferred Stock
on
the New York Sto
York, November 23, 1910.
SPEYER & CO.
This advertisement appears as a matter
of record, stock having all been sold.
Four Per Cent Gold Debt of 1904
OF THE
UNITED STATES OF MEXICO
NOTICE IS HEREBY GIVEN, on behalf of the
Mexican Government, that the following bonds,
heretofore drawn for the Sinking Fund In pursu¬
ance of the agreement relating to said loan, bear¬
ing date October 31, 1904, made between the
FEDERAL EXECUTIVE OF THE UNITED
STATES OF MEXICO and SPEYER & Co.,
acting for themselves and others, and BANCO
NACIONAL DE MEXICO, have not yet been
p&sented for payment:
Drawn for the
Sinking Fund May 14, 1909:
Series “A” for (1,000 each.
Nos. 17,245 and 30,119.
Interest
on
Sinking Fund Nov. 15, 1909:
Series “A” for (1,000 each.
Nos. 7064, 11,722, 17,234, 32,459.
on
’Sht
ENGINEERS
<&iii*jetis Central
fjalhmal gauk
at gew
EXAMINATIONS and BEPOBTS
218 La Salle Street,
these
Bonds
ceased December 1,
Portland. Ore.
no BROADWAY
Oklahoma City, Oklahoma.
Edwin S. Schenck, President
Francis M. Bacon Jr., Vice-President
Albion K. Chapman, Cashier
Jesse M. Smith, Asst. Cashier
James McAllister. Asst. Cashier
W. M. Haines, Asst. Cashier
Mobile. Ala.
Office of
H. M. BYLLESBY & COMPANY,
Engineers,
Said bonds designated for redemption will be
payable at par, and will be paid at the option erf
their holders, on presentation thereof, at any of
the places at which interest on said bonds Is paya¬
ble.
Said bonds must be presented for payment
with all coupons maturing after the dates for
which they have respectively been called for
redemption.
SPEYER & CO.
Dated Now York, November
26, 1910.
CH1GAGO
these bonds ceased June 1, 1909.
Drawn for the
Interest
1909.
H. M. BYLLESBY & CO.
Managers.
Chicago.
Capital
$2,550,000
Surplus and Profits $1,700,000
The Board of Directors of the MOBILE ELEC¬
TRIC COMPANY of Mobile, Alabama, has de
dared a quarterly dividend of one and three-
quarters per cent (1 H) upon the preferred stock
of the company, payable by check November 15th
1910 to stockholders of reoord as of the dose of
business October 31st 1910.
ROBERT J. GRAF, Secretary.
Nov. 26 1910.]
THE CHRONICLE
IT
financial.
■
«T*“-«MM
AMERICAN SMELTING & REFINING COMPANY
165 BROADWAY
New
York, November 21, 1910.
To the Stockholders of
American
Smelting &. Refining Company
Pursuant to resolutions of the Board of Directors, adopted November 17 1910, but subject to
obtaining the
authorization of the necessary increase in the Company’s authorized capital stock at the meeting of the stock¬
holders which has been called for the purpose for January 5 1911, the privilege will be given to the holders of
the Preferred and Common Stock of this Company to subscribe, at par (with an adjustment of accrued
interest),
the terms and conditions hereinafter stated, on or before February X 1911, for an amount of the Six Per
Cent Gold Debenture Bonds of American Smelters Securities Company equal to fifteen per cent (15%) of their
upon
respective holdings of the stock of American Smelting & Refining Company, as registered on its books at three
o’clock P. M., December 15 1910.
This Company has arranged with Messrs. Kuhn, Loeb & Co. to underwrite the
subscription of the entire issue.
Said bonds will be of an authorized issue of $15,000,000. They will be convertible at the option of the holder
at any tixne after issue and prior to August 1 1918 (or in case of earlier
redemption until thirty days prior to
the redemption date), into fully paid shares of the Common Stock of American
Smelting & Refining Company,
at par, provided that at the time when such bonds shall be offered for conversion the market value thereof shall
be at least par. On February 1 1915, or on any semi-annual interest day thereafter, said bonds are to be subject
to redemption by the Securities Company as a
whole, or to redemption in part by operation of the sinking fund
hereinafter mentioned, on ninety days’ notice, at 105% of the face value thereof and accrued
interest; but any
bonds so called for redemption during the conversion period may be
converted into stock up to thirty days prior
to the redemption date specified in the call for
redemption. If less than all said bonds are to be redeemed,
the bonds to be redeemed are to be designated by lot.
Adjustment of accrued interest and current dividends
will be made at the time of conversion.
Bonds received
version will continue in force and become assets of that
by American Smelting & Refining Company upon conCompany.
The bonds will be payable on February 1 1926, and will bear interest from
February 1 1911 at the rate of
six per cent per annum, payable semi-annually on the first
days of August and February in each year, the first
coupon being payable on August 1 1911.
Both principal and interest will be payable in gold coin of the United
States of America of or equal to the present standard of
weight and fineness, without deduction for any tax or
other governmental charge which the Securities
Company may be required to pay thereon or to retain therefrom
under any present or future law of the United States of
America, or of any State, county, municipality or other
taxing authority therein. They will be in coupon form in the denominations of $500 and $1,000, respectively*
with the privilege of registration as to principal.
The bonds, or the agreement under which they are to be issued, shall contain a covenant on the
part of the
Securities Company that it will not create any bonds, debentures or
mortgage, or any pledge of the holdings
of the stock of any of its subsidiary companies now owned or hereafter to be
acquired by it, which shall take
precedence over said convertible bonds.
Provision shall also be made for the creation by the Securities Company of a
sinking fund of at least $500,000
per annum until the maturity of the bonds, the first payment to be made on February 11912, with the
option to
the Securities Company at any time to pay into the
sinking fund sums in excess of $500,000 per annum. All
bonds purchased or redeemed for the sinking fund are to be kept
alive and the income thereof added to the sink¬
ing fund.
As'soon as possible after the closing of the books on December 15 1910
subscription warrants, signed by the
Treasurer or an Assistant Treasurer of this Company, will be issued to each stockholder of
record, specifying the
amount of bonds for which he is entitled to subscribe.
Such warrants will be issued only in amounts of
$500,
or some
multiple thereof, in face value of said bonds. For each fraction of a $500 bond for which a stockholder
is entitled to subscribe, a fractional warrant will be issued.
No subscription may be made on a fractional
warrant,
but if surrendered before January 30 1911 to the Treasurer with other fractional warrants
aggregating $500, face
value, a subscription warrant for a $500 bond will be issued in exchange, and if the surrendered fractional warrants
include a fraction in excess of $500, a new fractional warrant will be issued for such fraction.
Fractional warrants
desired by stockholders to complete full bonds, or fractional warrants which the stockholders
desire to dispose
of, must be bought and sold in the market, as this Company will not sell or purchase such fractions.
On the back of these warrants will be two forms.
The first form is to be filled out and
signed by the stock¬
holders or by their assigns in case they desire to subscribe. The second
form, which is an assignment, is to be filled
out and signed by the stockholders only in
case they desire to dispose of the subscription privilege.
Where a warrant authorizes a subscription for two or more bonds, stockholders who
may wish to subscribe
for a portion of the bonds covered by the warrant and
dispose of the balance, or who may wish to dispose of a
portion of the bonds covered by a warrant to one person and the balance to another, should return their warrants to
this office before January 30 1911, to be split up into warrants for the desired
amounts.
Warrants so returned
should be accompanied by a statement in writing specifying the number of warrants desired in
exchange and
the amount of bonds to be covered by each.
The price of subscription for the bonds, payable in New York funds, in
installments, at the office of this
Company is as follows:
Per $500 Per $1,000
Bond.
$260 00
260 79
At the time of making subscription, on or before February 11911
On February 20 1911 (19 days’ interest included)
_
Subscriptions
Bond.
$500 00
501 68
however, be paid in full at the time of making the subscriptions on or before February 1
1911, in which case the amount payable will be $500 for a $500 Bond or $1,000 for a $1,000 Bond.
The warrants must be returned to this office on or before-February 1
1911, accompanied by the payment of
the first installment or the full amount payable; and all warrants not so returned with such
payment on or before
said date
may,
shall be void and of no value.
Failure to pay the second installment, when and as
payable, will operate as a forfeiture of all rights in
respect of the subscription and the installments previously paid.
The Treasurer will, on the surrender of the warrants and the payment of the first
installment, issue receipts
which shall be transferable by delivery merely, and which, unless
previously paid in full, must be returned on or
before February 20 1911, accompanied by the second installment.
Full-paid receipts for bonds will be exchangeable for the engraved bonds as soon as the latter are ready for
delivery.
No subscription or assignment of this privilege will be recognised unless made
upon the forms of this
No stockholder of this Company will be entitled to any of the above-mentioned bonds unless theCompany.
terms of
subscription herein specified are fully complied with.
The
subscriptions and the respective installment payments must be made at the dates and in accordance
with the provisions stated above. Checks or drafts m payment of
subscriptions must be drawn in favor of
American Smelting & Refining Company, in New York funds, and for the exact amounts
covering the respective
installments.
By order of the Board of Directors,
U
.
<£I
...
,
..
‘
' *
K
’
W. E. MERRISS,
_
Secretary..
.i
XVI
THE CHRONICLE
[VOL.
LXXXXI
gtnanpctal.
WE OWN AND OFFER
UNSOLD PORTION OF
»
,
$150*000.00
FIRST MORTGAGE
6% SERIAL GOLD BONDS
OF THE
Harlingen Land and Water Co.
OF
HARLINGEN, TEXAS
These bonds bear date March 1st, 1910; are payable in series as stated
below, redeemable on any interest
date after March 1st, 1915, at 103 and interest; are coupon bonds with
privilege of registration as to principal.
The principal and interest are payable at the banking house of the Colonial Trust &
Savings Bank of Chicago,
the Trustee, to which we refer for information as to the Deed of Trust,&c.
Maturies, Denominations and Amounts
$1,000
March
March
March
March
March
March
1,
1,
1,
1,
1,
1,
1915
1916
1917
1918
1919
1920
8500 OO
$20,000
20,000
20,000
20,000
10,000
10,000
$100 00
$5,000
5,000
5,000
5,000
10,000
10,000
\
$5,000
5,000
The property securing these bonds is situated at Harlingen, Texas, in
[Cameron County, near Brownsville
and the Gulf of Mexico. The land is crossed by the Frisco Railway System. This bond issue is for the ex¬
tension and increase of the business of this Company. The land mortgaged consists of about 14,000 acres.
The Company has at present over forty miles of completed canals, with
permanent water rights; taking water
froimthe Rio Grande. The water supply is perpetual. The canals of this Company surround the Town of
Harlingen.
SffgUThese lands
possess a wonderfully rich garden soil of remarkable depth (see United States Government
Report showing the maximum temperature one hundred degrees and minimum temperature twenty-eight de¬
grees); there being only three days of the year showing frost; the remainder of the entire year being warm
enough to grow crops' From two to five crops of vegetables and grain are raised on these lands per year.
Alfalfa is cut from seven to ten times per year. Cotton produces from a bale to a bale and a half
per acre.
jp-fUThe yield of vegetables, sugar-cane, alfalfa and cotton makes a variety of production unexcelled through¬
out the United States.
Schedule of Securities
Over 40 miles of completed canals, costing over
Water contracts, first liens on 10,000 acres of cultivated farms
Water rights, covering 40,000 acres of land, not yet sold
943 acres of irrigated land, in fee simple, valued at $200 yer acre...
14,000
acres of irrigable land at $10.00 per acre, increasing
the rate of about $5 00 per acre per year)
$325,000
300,000
200,000
188,600
00
00
00
00
in value at
140,000 00
Total security behind these bonds, not counting value added
by improvements and betterments thus far in 1910
$1,153,600 00
In addition to this security, Mr. Lon C.
antees the payment of principal and interest
Hill, the principal stockholder of this Company, personally guar¬
of every bond when due.
We respectfully submit these bonds to the investing public as worthy of immediate attention. Copies
of the legal opinion of Charles B. Wood, Esq., of Wood & Oakley, may be had on application, and the informa¬
tion on which we base our conclusions as to this bond issue will show that the foregoing statements are conserva¬
tive.
Orders
by telegraph
or
long-distance telephone
may
be sent at
our expense.
PORTER, FISHBACK & CO
*Vo;
■
i -:'
.
BANKERS
i'<'
-
»
....
i
...
■
•
,„>*-! ,r-a
Commercial National Bank
CHICAGO
Building
'-{>
it-.o'’!
•i.iOV’-Vv*.'
•
.
t;
;
»i
'.•..‘•‘C*
j;«
A
''
pnattrml
TV
WJ
tfmnwrte
INCLUDING
Bank &
Quotation Section
Railway Earnings Section
Railway & Industrial Section
Electric
Bankers* Convention Section
State and
SATURDAY, NOVEMBER 26 1910.
VOL. 91.
Clearings at—
1910.
PUBLISHED WEEKLY.
Terms of Subscription-—Payable in Advance
$10 00
For On© Year
For Six Months
6 00
13 00
7 50
postage)
Annual Subscription in London (including postage)
lg
Six Months Subscription in London (including
Canadian Subscription (including postage)
£2 14 s.
postage)
£1 11 s.
$11 60
Subscription includes following Supplements—
B ank and quotation (monthly)
Railway and Industrial (quarterly)
Railway Earnings (monthly)
State and City (semi-annually)
Electric Railway (3 tunes yearly)
Banksks’ Convention (yearly)
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis
Columbus
Toledo
Peoria
Grand Rapids
Dayton
Evansville
Kalamazoo
_
Fort Wayne....
$4 20
22 00
Three Months (13 times)
29 00
Standing Business Cards
Six Months
(26 times)
60 0(>
v Twelve Months (52 times)
87 00
CHICAGO OFFICE—Pliny Bartlett, 513 Monadnock Block; Tel. Harrison 4012
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
Youngstown
Rockford
Akron
Quincy
Canton
Lexington
Springfield, O...
South Bend
Bloomington
COMPANY, Publishers,
Front. Pino and Depeyster Sts*.
Chicago
Springfield, Ill
Terms of Advertising—Per Inch Space
’Transient matter per inch space (14 agate lines)
Two Months
(S times)
WILLIAM B. DANA
New York.
...
Decatur
Jackson
Mansfield
Published every Saturday morning by WILLIAM B. DANA COMPANY.
J&oob Seibert Jr., Vice-President and Secretary; Arnold G. Dana, Treasurer.
Addresses of both, Otfioe of the Company.
Danville
Lima
Jacksonville, Ill.
Ann Arbor
Adrian
CLEARING-HOUSE RETURNS.
Saginaw
T
The following table, made up by telegraph, &c., indicates that the total
bank clearings of all clearing houses of the United States for week ending
to-day have been 32,889,255,063, against 33.318,976,708 last week and
33,024,454,418 the corresponding week last year.
Clearings—Retumsjby Telegraph.
Week ending November 26.
1910.
1909.
.arising
Philadelphia
81,316,799,342
104,615,336
106,348,626
22,718,193
188,363.566
.
Baltimore....
Chicago
$1,490,680,777
110,338,194
103,560,630
22,572,539
192,021.326
393,866,622
+3.1
51,925,655
18,490,778
11,657,418
8.497.942
4,883,639
10.954,125
4,534,584
48,020,947
+8.1
+ 20.3
—18.0
—11.7
—5.2
Portland
Tacoma
Oakland
Helena
Sacramento
50,877,266
Seven cities, five days.
Other cities, five days...
$1,815,070,204
504,237,641
$1,983,700,553
425,018,976
+ 18.6
Total all cities, five days
All cities, one day
32,319,307,845
569,947,218
$2,408,719,529
615,734,889
—3.7
—7.4
13,649,821
—8.5
$2,889,255,063
—4.5
$3,024,454,418
Sat¬
urday. We cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence in the above the last day
of the week has to be In all cases estimated,as we go to press Friday night.
We present below detailed figures for the week ending with Saturday,
noon, November 19, for four years.
Week ending November 19.
1909.
$
$
1.872,470.525 2,091,858,744
New York
Philadelphia....
Pittsburgh
Baltimore
Buffalo...
11,581,135
....
Rochester
Scranton
Syracuse
Wilmington
Reading
Wilkes-Barre
...
Wheeling
Harrisburg
Trenton
York
Erie
Greensburg
Binghamton
49,122,843
35,689,323
Albany
Washington
148.397.260
50,094,033
31,827,973
10,308.228
7,512.844
6,848,777
4,382,369
2.559.642
2,659,500
1,413,599
1.658.689
1,409.765
1,860,319
1,357,478
2,038,995
956.920
756.193
477,351
433,700
463.081
488,269
225,000
167.839.791
....
Altoona
Chester
Franklin
6,305,633
7,464,228
4,457,699
2,696,938
2,532,135
1,700,000
1,611,278
1,414,740
1,809,628
1,221,000
1,466,242
1.120,798
921,007
523,187
574,400
560,999
560.528
247,973
Total Middle.. 2,173,932.030 2,369,988,729
Boston
Providence
Hartford
New Haven
187,550,569
9.752,000
4,028,674
3,120.388
Springfield
Portland
Worcester
2,469.287
2,241.729
-
Fall River
New Bedford
Lowell
Holyoke..
Total New Eng.
2,614,639
1.508,028
1.554.929
551,199
613,143
216,004.585
'
1908.
1907.
%
$
$
+ 13.1
—1.9
+ 12.1
+ 12.3
—16.1
+9.0
+ 1.7
+5.4
•4.8
+20.3
—2.9
+0.4
—3.2
—10.1
—28.1
+ 17.1
+ 21.8
+9.6
+9.3
+21.0
+ 14.7
+ 10.2
2,172,383,023 1,261,168,396
117,532,393
142,022,125
51,192,846
42,525,515
26,529,859
27,020.474
8,382,712
9.276,307
5.461,608
6,425,789
4,506,295
6.267.914
3,321,864
3,856,638
2.085,195
2,421,162
2.230,984
2,096,645
1,187,085
1,105,663
1,210,229
1,309,970
1,172,997
1,207,170
1,345.285
1,617,152
997,093
1,229,531
1,416,721
730,379
699,050
663.984
529,200
503,513
430,704
244,646
651,563
709,534
476,400
441,300
445,197
205,889
—8.3
2,425.983.275 1,491,906,287
+0.4
123.879,749
6*753,000
2,725,380
2,111,509
1,727,095
1.851,31$
143,309,756
1,699,008
1,225,970
553,009
606,207
—11.3
+26.8
—0.3
+ 1.1
187.431.119
7,511,600
3,068,747
2,292.498
1,713,476
1,727.024
1,631,709
1,378,445
1,150.890
562,861
450,007
214,131,261
+0.9
208,918,376
186,722.027
10,298.300
3,577,029
2,856,031
2,675,000
1,993,297
1,925,383
—5.3
+ 12.6
+9.2
—7.7
+ 12.4
+35.8
....
Stockton
San Jose
North Yakima
..
Billings
Pasadena
Total Pacific..
....
Minneapolis
Omaha
St. Paul...,
1,496,916
887,316
815,117
564,466
497,897
1,932,744
1,500,000
L066.325
908,251
627,444
659,103
176,209
800,000
122,770,486
55,437,166
26,343,107
16.684,101
12.850,629
10,367,306
Denver
Duluth
St. Joseph
Des Moines
Sioux City
Wichita..
Lincoln
15,368,188
14,203,863
8,827,188
4,774.416
9,450,000
5,958,561
1,832,520
1,091,075
1,460,012
1,094,000
830,874
755,268
645,549
425,465
317,091
600,000
14,193,682
154,509.793
84,632,830
24,144,802
14,479,771
17,031,544
11,327,000
7,621,742
12,454,958
16,999,597
8.731,411
8,740,244
4,150,559
4,293.058
4,424,367
2,806,155
2,878,905
2,710,609
2,355,805
2,769,195
1,750,000
1,593,066
2,815,000
—
Fargo
St. Louis
New Orleans
Louisville
Houston
Galveston
Richmond
Memphis
...
Atlanta
Savannah
Fort Worth
Nashville
Norfolk
Augusta
Birmingham....
Little Rock
Charleston
Chattanooga
Jacksonville
Knoxville
Mobile
Oklahoma
Austin
Macon $
Beaumont
...
—
Vicksburg
Jackson
Meridian
1,571,407
1,467.612
600,000
441,717
600,000
465|800
Wilmington, N.C.
915,416
Total Southern
244,770,570
Total all
+70.0
—4.8
+32.3
+37.1
+28.4
+20.3
—2.8
+55.0
—44.4
1908.
$
265,497,591
28.447.80C
16,262,75S
14,459,665
12,501,341
8.515,821
5,485,800
3,445,424
3,311,376
2,230,001
1,803,428
1,998,813
1,111,342
950,000
823,272
716.230
565,014
700,000
"489.87K
609,838
647.779
416,418
435.299
467,501
425,492
275,000
327,379
280,153
253,715
252,284
140,113
40,012
—
373.886,537
39,059,068
10,855,954
9,715.721
8,340,245
3,591,675
6,696,244
4,826.929
1,664,230
1,101,191
979,296
856,000
503,500
89,928.728
44,654,967
26.934,237
12.910.133
12,553,156
9,972,068
60,082,011
29,172,659
23,141,424
10,268*290
10.626,943
7,751,682
—8.0
3,359,392
2,732,182
1.744,826
1,158,842
1,522,567
400,000
—9.5
+ 2.3
—53.1
+21.1
+ 3.4
+7.4
+25.1
+ 15.5
680.000
684,210
635,138
278,765
149,750,208
+3.2
71,798,116
22,895,324
13,429.215
14,844,575
7,536,000
7.894,106
7,371,428
13.427.592
6,203,407
8,001.256
3,601,567
3,587,192
3,109,064
2,529,640
2,083,715
2,210,531
+ 17.9
+ 5.5
+7.8
+ 14.7
+50.3
127,516,079
69,613,078
20,301,130
11,392,968
460,184
518,000
281.404.956
25,955,699
8,130,322
7,483,654
3,866,045
2,632,685
4,074,497
4,572,783
1,118,318
848,008
697,500
586,258
430,305
300,000
241,901
—0.6
>609,270
275,000
225,421
125*806
35,000
684^001
+ 23.8
—6.7
+39.4
—7.8
1,404,680
2,254,007
936,190
1.325,661
$
192,133.238
20,946,050
15,769,925
13,865,053
10,226,518
5,755,214
4,580,500
3,421,567
1,199,436
2,014,183
1,280,619
1,804,312
672,100
912,038
597.786
1,300,649
643,056
475,000
538,869
440,000
427,513
399,701
330,266
326,027
245,883
240,185
197,941
-
5,457,227
3,099,942
2,889,427
1,554,738
1,209,455
1,241,337
1,219,044
720,403
821,832
1,531,320
1,908,648
1,643.522
1907.
+33 3
+17.9
Tot. oth.West.
—
Rapids
—23.9
28,649,510
14,147,841
Sioux Falls
Colorado Springs
Pueblo
Fremont
Cedar
+ 2.3
+ 15.9
+6 2
+8.7
7,705,913
3,883,120
2.800,000
3,391,610
1,570,602
1,356,760
1,590,662
1,582.278
963,627
1,300,000
711,355
1,0-18,895
237,717
4J14|945
—3.7
51,006,112
115,655,017
10,137,670
7,045,616
6,365,253
3,754,568
2,608.491
2,710,337
1,359,420
1,457.102
1,134,197
1,409,930
969,700
1,050,000
762,303
730,650
257,826
Davenport
Inc. or
Dec.
—10.5
1.041,340
Topeka
Clearings at—
1910.
3,114.929
San Diego
Fresno
Kansas City
The full details for the week covered by the above will be given next
$
$
%
278,299,356
+2.1
272,580,564
—-6.fi
25,098,450
26,853,050
22,814,695
20,823,565
+9.6
20,402,725
17,858,326 + 14.2
+ 5.3
13,879,349
13,185,754
—0.1
9,264,155
9,273,265
—4.8
5,771,400
6,061,800
5,022,417
4,469,538 + 12.4
3,432,197
3,071,752 + 11.8
3,130,388
+9.0
2,871,142
2,238,165
1,961,506 + 14.1
2,544,582
2,078,100 +22.4
—7.0
1,426,378
1,534,952
—1.5
930,066
944,325
1,054,898
+ 8.0
976,369
1,106,557
+7.7
1,027,288
835,576
+9.9
760,410
1,131,000
+9.1
1,036,800
596,333
+3.0
573,715
1,009,707
714,115 +41.3
1,050,614
+9.7
957,841
554,396
437,990 + 26.7
608,070
469,403 +29.9
572,386
465,904 +23.0
405,078
342,296 + 18.4
548,588
300,000 +82.8
+5.7
411,095
389,031
—1.5
391,365
397,282
383,450
336,215 + 14.0
+4.9
272.124
259,323
+0.9
205,000
203,159
39,124
23,975 + 63.2
659,510
627,867
+5.0
410,214 Not Included in total
408,089,194
Spokane..1
59.951,743
16,273,398
St. Louis
New Orleans.
Inc. or
Dec.
Tot. Mid.West.
Per
Cent.
+ 2.7
+ 0.6
—1.9
+ 17.8
+ 19.2
1909.
San Francisco...
Los Angeles
Seattle
Salt Lake City..
_
New York...
Boston
NO. 2370.
Week ending November 19.
gftje dirtfratle.
P. O. Box 958.
Railway Section
City Section
—7.0
+40.2
+ 12.3
—3.5
+68.9
+26.6
+40.8
+9.2
+ 15.2
+ 19.7
+42.3
+ 10.9
+38.2
+22.6
+53.8
+45.0
+6.5
+ 13.5
+24.9
+67.9
+ 10.7
—1.5
—4.0
16,513,860
8,519.500
6.719,541
7,038,779
5,870,156
5,460,132
7,546*310
3.152,132
2.958.503
2,368,331
2,046,151
2,105,314
1,735,000
1,511,299
1,559,385
1,487,315
1,525,497
1,502,916
646.061
906,879
580,374
495.743
806.537
824,042
580,354
507,725
565,000
632,596
578,863
211,421
96.405.345
57,033,388
19,071,961
8.901,056
9,414,468
6,299,000
6,168,418
5,855.345
5,263,998
5,839.598
4,418,567
3,924,992
2,684,846
2,145,762
2,087,196
1,148,377
1,793.546
1,620.000
1,238,854
1,420,732
1,452,624
637,860
765,000
727,538
372,000
450,000
735,828
+ 15.8
+31.4
+24.4
425,000
510,000
204,144,476
+ 19.9
184,431.754
150,795,858
354^439
3.318.076.708 3,447,536,323
—3.8 3.410,665.045 2,223.904.213
Outside N. Y-. 1,445,606,183 1.355.677,579
+6.6 1.238.882.622
962.735.817
Noes.—For Canadian Clearings see “Commercial and Miscellaneous News.**
1406
THE CHRONICLE
our
to-day’s issue of the “Chronicle”
subscribers
a new
number of
our
we
send to
“State and
City
Section” revised to date.
In the editorial columns of the
found
publication will be
article
“Chronicle” recognized this fact over thirty
years
ago, and has ever since obtained a
weekly report
intended to show the items, on both sides of the ac¬
count, that ought to be excluded in order to indicate the
gain or loss sustained by the banks on the
operations of the Sub-Treasury. The writer remem¬
amount of
dealing with the “Growth of Urban
Population/’ together with tables showing the popu¬ bers spending
nearly
an
LXXXXI.
management of Government finances. Therefore it
is necessary to eliminate these outside items. The
STATE AND CITY SECTION.
With
[VOL.
whole day behind the Sub-Treas¬
ury counters, a great many years ago, in conference
with
more than 25,000 for which the 1910
William Sherer, now Manager of the
figures had been
Clearing
announced by the Bureau of the Census up to the time House but then in the Sub-Treasury, in the endeavor
to locate all extraneous
of going to press.
items, and he also recalls re¬
peated conferences with Assistant Treasurer Jordan and
lation of such of the States and also such of the cities of
with Maurice L.
a
Muhleman, in seeking to perfect the
weekly statements so that it might be possible to say
with absolute
accuracy whether the ordinary operations
of the
Sub-Treasury in any given week had resulted in a
gain or a loss to the banks, and just how much. It is ob¬
weekly statements vious that, given the result of the Sub-Treasury opera¬
of the Clearing-House banks as issued each
Saturday. tions, and knowing the interior currency movements
For instance, last Saturday the figures
collected by us (to obtain which we collect returns from the separate
showed that the banks had gained $3,332,000 on the
banks), and considering also the import and export
interior movement, while the
movement
of gold, we have all the
Sub-Treasury report
leading elements
indicated a loss during the week to the banks on Gov¬ that
go to make up the weekly Clearing-House state¬
ernment operations of
$1,000,000. Accordingly the ment.
net result ought to have been a
For a long time the special
gain in the money
report thus prepared for
holdings of the banks and trust companies of $2,332,- our use by the Sub-Treasury yielded
very close re¬
000.
But
Saturday’s statement of the Clearing- sults. More latterly these results seem to have been
House banks, according to the actual
figures of condi¬ wide of the mark, if the Washington figures may be
tion, made the gain in specie and legal tenders for the applied as a test of their
accuracy. It should be said
week $9,033,600.
If from this we deduct the $1,690,- that besides the
special report furnished to us, the
800 average loss in specie and
legal tenders for the Sub-Treasury officials also now give out a regular re¬
same week as
reported by the trust companies and port for the general use of the press. This latter in
thei State banks outside of the Clearing
House, we its final result does not differ greatly from our own,
get $7,342,800 as the real addition to the money hold¬ and in any figures we
may cite here we shall confine
ings of the financial institutions of this city for the ourselves entirely to this general
press report. Last week,
week in question, as against the
$2,332,000 which ought as already stated,the press report showed a loss to the
to have been shown
according to the recorded money banks of, roughly, one million dollars—in exact figures
movements.
$1,040,000. '• Accordingly the Treasury should have
Similar,, and often even wider, discrepancies have gained that sum. Turning,
however, to the Washing¬
been noticed in many other weeks in recent
periods. ton figures, we find that, so far from the Treasury hav¬
What accounts for these differences? All sorts of
ing gained any, its cash holdings between Nov. 12 and
theories have been advanced from time to time.
Up to Nov. 19 were reduced from $311,947,786 to $306,866,1908 variations of this sort were
invariably attributed 374. In other words, instead of the banks having lost
to the circumstance that the
Clearing-House returns, $1,040,000 through the operations of the Sub-Treasury,
being based on averages, did not reflect the true con¬ they appear to have gained
$5,081,412. Of course,
dition of the banks at the end of the week. But
this the Washington figures cover the results for all Subapparently plausible explanation is no longer avail¬ Treasuries combined, but the
preponderating part is
able. The Clearing House now furnishes the
actual always supplied by New York.
If now we accept
figures as well as the averages, and in the above illus¬ these
Washington figures, showing a gain to the banks
tration we have used these actual
figures. How then last week of $5,081,412, as the more reliable, and com¬
are the
discrepancies to be explained? Apparently bine them with the gain of $3,332,000 on the interior
it has never occurred to any one that
maybe the result currency movement, we get a total gain of $8,413,412
of the Sub-Treasury operations for the
week, as an¬ for the week. This, it will be observed, accords pretty
nounced each Friday, is
misleading or erroneous. closely with the gain actually recorded by the banks
These results certainly do not accord with the
changes and trust companies combined in their statement of
as they
appear in the reports of the United States last
Saturday, as worked out above, namely $7,342,Treasurer issued at Washington.
800.
The trouble, therefore, apparently lies with the
For the understanding of the reader we
ought per¬ Sub-Treasury results.
haps to say why we speak of the results as “announced”
In view of the outcome in this
instance, we have
by the Sub-Treasury. Figures of “receipts” and “dis¬ thought it best to extend our
investigations further
bursements” of the Sub-Treasury are
meaningless as back. We find that in each and every week since the
indications of how the operations of the
Sub-Treasury beginning of September the Sub-Treasury report has
are
affecting the banks, since they may include re¬ shown a loss to the banks—or “Banks
lose,” as is the
ceipts from or shipments to Washington or other expression used in the
reports. In the following we
extraneous items that concern
merely the internal furnish a summary of these losses.
THE FINANCIAL SITUATION.
Attention is again being directed to the fact that
the reports of the movements of money to and from
the interior and in and out of the
Sub-Treasury each
week are far from tallying with the
Not. 26
Results by
WmI-
fin
Sub-Treasury Figures.
rh'n n
16—Banks lose
23—Banks lose—.—
30—Banks lose
lose
lose
lose
lose
November 4—Banks lose
11—Banks lose__
18—Banks lose
7—Banks
14—Banks
21—Banks
28—Banks
$2,209,000
--
-
6,053,000
3,189,000
9,913,000
912,000
4,746,000
1,217,000
6,342,000
2,482,000
70,000
1,040,000
$38,173,000
September 1 to November 18
Thus in the eleven weeks to November 18 an aggre¬
Total loss
gate of $38,173,000 was taken out of the banks, ac¬
cording to the foregoing, and went to enrich the SubTreasury. But if cash resources of the latter were
reinforced in any
reflected in the
such striking way, the gain should be
Washington figures. What are the
Here are the amounts for the first of
each of the last three months according to the Washactual facts?
ngton statements, and
also for Nov. 12 and Nov. 19.
Holdings of the U. S. Treasurer.
September 1 1910.
$312,463,661
October 1 1910
313,844,384
November 1 1910312,908,182
November 12 1910
311,947,786
Actual Money
Amount
Amount
Amount
Amount
getting the staple into marketable shape, showing at
same time that in at least two important States,
Oklahoma and Texas, a yield in excess of the previous
year is already assured, the amount ginned to Nov. 14
this year being greater than the total ginning reported
for those States by the Census Bureau in 1909. As an
indication of the size of the current crop this report,
it is perhaps needless to say, is of little value.
Gin¬
ning has apparently progressed rapidly, or as fast as
the cotton has been brought in, but the necessary fac¬
tor in making crop estimates is the amount remaining
to be ginned, and it is much too early to know anything
of that.
Nor do the percentages of amount ginned to
Nov. 14 in earlier years furnish any basis upon which
to found any reliable calculations.
They have varied
widely, ranging all the way from 65.9% in 1906 to
80.5% in 1909, and upon the widely divergent bases
a yield of anywhere from 10,900,000 bales to 13,300,000
bales can be adduced. This being the fact, the folly
of guessing should be apparent.
While efforts to obscure the crop situation and main¬
tain the current high prices for cotton continue, the
Qonditions in manufacturing lines do not show the
measure of improvement looked for with the comingon the market of new supplies of the raw material.
The situation is, of course, better than it was some
few months ago, but demand is not of a character to
warrant full production of goods.
On the contrary,
there is discussion of the necessity for the curtailment
of output, both North and South, unless material
improvement of conditions affecting the mills develops
the
September 9—Banks lose
October
1407
THE CHRONICLE
1910.]
Amount November 19 1910
306,866,374
figures it is plain that so far from the
Sub-Treasury having gained $38,173,000 at the ex¬
pense of the banks during the last eleven weeks, the
U. S. Treasury in its operations through the various
Sub-Treasuries actually sustained a loss of $5,597,287.
The difference between the two amounts, it will be
seen, is 43% million dollars.
Furthermore, instead
of large losses having occurred from week to week
during September and October, the Washington
figures make it clear that the Government money hold¬
ings for the three dates, September 1, October 1 and
November 1, remained almost stationary, having been,
respectively, $312,463,661, $313,844,384 and $312,908,182. Evidently, therefore, the Sub-Treasury
compilations, according to present methods, do not
furnish a correct clue to the way the Government op¬
erations are affecting the Clearing-House banks from
From these
week to week.
soon.
scale is likely to become operative
shortly in a leading industry in Great Britain, and the
working out of the plan should be followed with consider¬
able general interest wherever labor is employed. The
A novel wage
new
scheme is the outcome of the deliberations of
conciliation board selected to settle
a
dispute as to
wages in the brass-making industry of Great Britain,
and involves no more nor less than the grad ing of the
workers according to their qualifications or capacity.
It has the unanimous support of the conciliation board
of thirty-two members, equally divided between em¬
ployers and employees, and only awaits the approval
a
quite sharply on Monday last, of the Brass-Masters' Association and the National
following the publication of the report on amount of Society of Brassworkers and Metal Mechanics to be
cotton ginned to Nov. 14, and on subsequent days put in force.
The plan as outlined divides the work¬
of the week a further net rise was established. The men into five grades, ranging from A to E, and defines
advance has been ascribed to the fact that the quan¬ clearly the qualifications necessary in each. The
tity ginned did not come up to preconceived ideas of rates of wages to be paid in each grade at the start will
what it would be; but that speculative manipulation be the minimum, and will advance as the qualifications
was
especially effective in bringing it about, there is and capacity of the workmen in each grade increase.
little or no reason to doubt. The report as issued Full opportunity (according to the American Consul at
showed that up to the date mentioned 8,764,153 bales Birmingham, who has drawn attention to the matter)
had been ginned, against only 8,112,199 bales in the like will be afforded workmen to prove their qualifications
period of 1909, or an increase of 651,954 bales, and, and capacity.
It is hardly necessary to go extensively into the de¬
moreover, this season's aggregate, notwithstanding the
lateness of the crop, is greater than in any year except tails of the plan, which have been communicated quite
1904 or 1908.
The quantity ginned between Nov. 1 fully to the Department of Commerce and Labor;
(the date of the last previous report) and Nov. 14 was, but it is well in passing to note that the scheme seems
furthermore, particularly heavy, aggregating 1,418,200 to be entirely feasible and marks a distinct advance
bales—a total very much larger than last year, and even in the relations of employer and employee. Even
slightly in excess of 1908, when the record crop was after a workman is duly graded, the right is accorded
to him to qualify for a grade higher by submitting
secured.
The report, of course, possesses no significance be¬ himself for examination by the properly constituted
yond the fact that it indicates the progress made in authority, the employer to pay a fee to the municipal
Cotton advanced
%
1408
THE CHRONICLE
brass school in case the decision is favorable
By
this provision the ambitious and
competent employee
is enabled easily to reach the
.
top of his trade. The
agreement, the Consul states, advances wages above
those paid at present, and is intended to do
away ab¬
solutely with "sweating” in the brass trade. Moreover,
it is anticipated that it will
bring about closer relations
between employers and workmen and result in such
improvement in the character and quality of the work
to
want
subways
[Yol.
so
intensely that they give
lxxxxi
heed to
obtained; and so
they join, or tacitly assent to, the outcry which
demands relief from
congestion, and is scarcely willing
to halt
long enough to have the problem studied.
This and that
borough or section clamors for itself,
and urges upon
city officers some “pledge” that may
or
may not have been given.
Nothing of that nature
can be deemed a
valid obligation; it is not a question
of a borough, but of the whole
city; not a question of
the present, but of the future.
The rush to get some¬
thing begun at once seems to have been checked, and
the head of the Commission is
reported as waiving
his zeal for the
tri-borough scheme so far as to say that
he favors
waiting until all propositions are in.
the conditions
on
which those
no
are
materially strengthen the brass trade of Great
The plan is certainly an
innovation, and its
successful working in this instance should be the means
of inducing its wider
adoption. In most trades the
wage scales now in force make no provision for dif¬
ferences in capacity to do work,
although, of course,
the employer often recognizes
superiority by increased
pay.
Under such a plan as this the ability to accom¬
President Taft has returned to
Washington after
plish more or better work would have recognition also his visit of
inspection to the Panama Canal, where
by the union.
satisfactory progress has been made, according to the
annual report of Col.
George Goethals, Chairman of
During the week the subway situation has distinctly the Isthmian Canal Commission.
That so huge a
improved in that there is now some prospect of an project, beset
by many novel problems for the en¬
operator coming forward in case the tri-borough gineer, could not
be carried out without
mishaps of
scheme is undertaken, and,
some
further, that
other magnitude commensurate with the
undertaking, is
propositions from private capital seem to be likely. brought out in this
report.
The
chief
difficulty lies
These are not very definite as
yet, but they indicate in the tendency of the excavated material to slide
back
that the city may be saved from the
very last step to its original position and thus involve the execution
which it ought to take,
namely subway building di¬ of the work a second time. One slide covered no less
rectly on its own account.
than 47 acres, a movement
scarcely imaginable, while
At this stage there is
working a misapprehension others brought the amount of material that had to be
which is corrected once more
by Mayor Gaynor in his moved a second time up to fully a million cubic
yards.
letter suggesting that a joint committee of the Cham¬
The estimates have had to be revised to meet
as
Britain.
ber
these
of
Commerce and the Merchants' Association unfortunate
but apparently unavoidable occurrences.
might greatly assist the city authorities in considering Breaks also interfered with the
work; one, at the town
the whole subject.
Many persons doubtless suppose of Culebra, covered an area of more than ten acres
the alternative lies between
allowing private capital and necessitated the removal of fully a million and a
to secure what is deemed a mine of
profit or having half cubic yards of dirt and stone. Then “floods
the city retain this for itself
by undertaking the busi¬ seriously interfered with the
progress of the work,”
ness of
building and operating subways. On the con¬ the engineer goes on to state. Yet
gigantic results
trary, the city will own the subway in any case, since were attained.
Upwards
of
36,500,000
cubic yards
the basis will be
substantially like that of the present of material were removed from all
parts of the canal
one, which is closely like a building on leased land
during
the
year, including almost 15,000,000 from the
the building goes with the land after a term
of years, Culebra cut, from which section
about 35,000,000
and after a term of years the
present subway becomes cubic yards remain to be removed. Excavation
costs
city property. Therefore, under the law as it stands, varied from 24c. to
$2 51 per cubic yard. More than
there is no question of private
ownership.
700,000 cubic yards of concrete were laid during the
There seems to be also a
hazy impression that the year at a cost ranging from $6 09 to $8 60.
Repair
debt limit is cash in
hand, and announcement of some shops have been
established,
employing nearly 4,400
increase in that seems like
finding money. But whether men, for facilitating the work of
construction, but
the margin is now 57 millions or
something more, that “nothing as yet has been done toward permanent
shop
means only a constitutional
authority to borrow; facilities, which will be needed after completion of the
against this should be set the fact that the pressure canal.” The number
of employees on the Canal
towards increasing expenditure is
constant, and is held (including those on the Panama Railroad) reached
in check only with
difficulty; also that the city's credit, 38,676 on March 30, while at the end of the fiscal
year
measured by the interest
rate, is already not what it the total was 35,578, as
compared with 33,493 in 1909.
should be, and the volume of debt and the
disposition No cases of plague or yellow fever broke out during
to increase it make in the same
direction. The
Mayor
points out, also, that this raising of debt limit
by re¬
vision of assessed values is
once
for all not
a
continu¬
annual process; more
various needs which
ous
the year. The daily average of sick was 23,
23.49 during the previous year, while the
numbered 548, equal to 10.84% per 1,000.
corded last week, the engineer in charge
against
As
deaths
we re¬
important, that the city has
expects to
develop imperatively out of its have the actual building of the Canal finished
by
growth, and that its borrowing capacity cannot be all
Dec. 1 1913, and that the official opening can take
turned to subways;
indeed, the total which can be place, as arranged, on Jan. 1 1915.
constitutionally borrowed is not too much to hold in
reserve
for other purposes. : V
Unhappily,
narily
-
.
many persons, some of whom are ordi¬
thoughtful and careful in their own affairs,
i
The Premier of
Canada, Sir Wilfred Laurier, has
predicted in Parliament that the Tariff Commissioners
to Washington will return with a commercial
treaty
Nov. 26
THE CHRONICLE
1910.]
dians
are
cost of meat may
eventually bring another rebuff to
agrarians, who have not always been guided by
He is convinced that a majority of Cana¬
that
in favor of obtaining better access to the
spirit of magnanimity essential to permanent
that will “mean for
perity .”
Canada peace, honor and
pros¬
the
90,000,000 people of the United States.
The Canadian Minister of Trade and Commerce, Sir
Richard Cartwright, on Wednesday also made a
hopeful statement on the subject. He declared that
nothing could have been more courteous than the
conduct of the President of the United States in the
present reciprocity negotiations. It was, he said,
an unexampled thing to find the President of a great
republic coming more than half way from Washington
to meet the Canadian Finance Minister and it was
eminently considerate on the part of the American
Administration to send its commissioners to Ottawa
to discuss amicably the best way in which freer re¬
markets of the
ciprocal relations may be brought about between the
nations.
two
Sir Richard went
on
to outline the
larger possibilities of the present movement. “There
are,” he said, “more considerations in this matter
than mere pounds, shillings and pence. I have always
been an advocate of Canada making herself valuable
to the Empire by promoting friendly relations between
ourselves and the people of the United States. Others
may have a different view; but my opinion is that no
one thing can be done by Canada which will be onequarter as great a service to the British Empire as
every way of equitable and friendly
relations between the two Anglo-Saxon Powers. And
the
1409
promoting in
I will go further, and say that if
more than another calculated to
there is one thing
bring about some
thing like a condition of general disarmament, it would
be an alliance between these two great nations.”
Tariff matters
success.
Great
tranquil summer, has been
precipitated into the throes of a general election. Par¬
liament will be dissolved on Monday next and the
voting will begin in the boroughs next Saturday. In
the following week polling will be very active and the
whole contest is expected to be over by Dec. 18. The
campaign is being waged with fury by the suffragettes,
who have been guilty of a series of disgraceful assaults
upon Cabinet Ministers; the labor unions are dissatis¬
fied with promises made by Premier Asquith to pass
legislation enabling them to pay, through voluntary
but not compulsory dues, their representatives in Par¬
liament (thus overcoming an existing law), but the
Irish members are warmly denouncing the House of
Lords, the United Irish League having issued a mani¬
festo calling landlordism and the Upper House syn¬
onymous.
The Chamberlain tariff proposals have been
overshadowed at this election by the fundamental
problem of how to readjust the relations between the
Commons and the Lords. Mr. Austen Chamberlain,
it will interest America to know, has announced that
the maximum duty the tariff reformers will propose
on wheat will be two shillings per quarter, that Colonial
wheat shall be duty-free and that flour will be taxed
to encourage home milling.
The question of Home
has
been pushed to the front and the
Rule for Ireland
generous contributions by Irish-Americans to the Na¬
tionalists’ funds have come up for much discussion, not
all of a complimentary nature.
Lord Lansdowne, on behalf of the Unionists, sub¬
Britain, after
a
affecting the United States will be
discussed at the session of the German Reichstag, mitted to the Lords a set of resolutions which was
which was opened on Tuesday. The Socialists on adopted on Thursday without a division and forwarded,
Wednesday interpellated the Government as to what with Lord Rosebery’s reform plans, to the House of
it proposes to do to alleviate the burden imposed upon Commons. The resolutions are of sufficient import¬
the masses by the high prices of meat. A week ago ance to justify reproduction in full:
Berlin dispatches stated that the authorities contem¬
“It is desirable that provision be made for settling differ¬
plated the removal of restrictions upon the importa¬ ences that may arise between the House of Commons and
tion
of
meat
and
that
this House
certain modifications had
ance
as
re-constituted, reduced in numbers in accord¬
with the recent resolutions of this House.
already been sanctioned. Replying to the Socialist
“That as to bills other than money bills such provision
interpellation Herr Delbruck, Vice-Chancellor and should be made on the following lines:
Minister of the Interior, said that Chancellor von
“If a difference arises between the Houses in regard to any
bill
other than a money bill in two successive sessions and
Bethmann-Hollweg, upon the solicitation of the South
German governments, had sanctioned the importation during an interval of not less than one year, and such differ¬
from France of
weekly.
a
The importation of cattle from America,
which was prohibited originally owing to the preva¬
lence of Texas fever, could not be permitted on veteri¬
American fresh beef was also barred
fever, but if this provision were
abrogated, the importation would still be impossible
owing to the provision of the meat inspection law
which requires fresh beef to be imported in whole or
halved carcasses with the internal organs intact.
The agrarian interests, which form a very powerful
political body, are naturally opposed to the free im¬
portation of either cattle or frozen meat, since the
high prices have meant generous profits for them.
But of late years the non-agrarian parties, thanks to
the phenomenal growth of industry throughout the
Fatherland, have come to the front and forced con¬
cessions formerly denied by the dominating class of
voters.
The present agitation against the excessive
nary
grounds.
unable to be adjusted
settled at
a
dum.
because of Texas
ences are
by other means, it shall be
joint sitting composed of the members of the two
Houses, provided that if the measure relates to a matter of
great gravity and has not been adequately submitted to the
judgment of the people, it shall not be referred to a joint sit¬
ting, but submitted for decision to the electors by a referen¬
fixed number of cattle and swine
“That
as
to money
bills, the provision should be on the
following lines:
prepared to forego their constitutional
right to reject and amend money bills which are of a purely
financial character, provided effectual provision is made
against ‘tacking’; and provided that if any question arises
as to whether a bill or any of the provisions thereof are of a
purely financial character, that question shall be referred to
a joint committee of both Houses, with the Speaker of the
House as Chairman, and who shall have a casting vote only.
If the committee holds that the bill or the provisions in ques“The Lords
are
tion are not of a financial character, they shall be dealt with
^forthwith at a joint sitting of the Houses.”
r* nx .
I
i
,
■
The Government’s'Veto'Bill
House of
. ■
ignored by the
Lords, which adjourned until Monday, the
was
1410
THE CHRONICLE
day of dissolution. The Liberals claim that the Lansdowne proposals afford no adequate relief from the
“tyranny” of the Upper Chamber; the Earl of Crewe,
(in introducing the Veto Bill), characterized them as
“a death-bed repentance,” while Chancellor
LloydGeorge denounced them (as well as Lord Rosebery's
resolutions) as “useless shams.”
[VOL.
LXXXXI.
mild way, the objective
refrained from retaliating.
being the fortress, which
In the afternoon Deputy
Carvalho, a retired naval officer, proceeded in a small
boat carrying a white
flag, to the battleships, and
endeavored
to effect
returned with
a
a
settlement of the trouble.
He
report to the Chamber and again
of the mutiny, to whom he
interviewed the leaders
named conditions of surrender.
The
men
refused to
Rioting by advocates of votes for women has be¬ consider anything short of general
amnesty and the
come a menace to the
safety of Liberal statesmen concessions demanded. Yesterday Congress
capitu¬
Premier Asquith on Tuesday announced
that, if he lated by granting the men increased pay, shorter hours
were returned to
power, the Government would give of service, less work and the abolition of
corporal pun¬
facilities for the consideration of a woman's franchise ishment. The
formality of surrendering having been
bill so framed as to admit of free amendment,
a con¬ gone through, the incident was
closed, although there
cession which was evidently misunderstood, as it was are
misgivings as to the effect the success of the mutiny
at once interpreted by the
suffragettes as “an insult will have upon discipline in the future.
to women.”
They declared warfare upon the Ministry
and immediately set about attacking the residences of
Discount rates at most foreign centres were easier
prominent statesmen and the Government offices in during the early part of the
week; on Wednesday an
Downing Street. They caught the Prime Minister and advance occurred at London, where a revival in
the
one woman hit him a smart blow before the
police Egyptian demand for gold was disliked, but a good
could rescue him, while Mr. Augustine
Birrell, Chief bank statement on Thursday caused a decline. A not¬
Secretary for Ireland, was so seriously kicked and able incident on the Continent was a
reduction in the
cuffed that he had to be taken home to bed and
placed
under the care of physicians.
Over 100 arrests were
made
during one demonstration, but all were liberated
by order of the Home Secretary (whose house was
attacked) with the exception of those charged with
violence. Yesterday twenty of them were sentenced
to two months'
imprisonment, without hard labor;
the presiding magistrate
remarking that these “dis¬
orderly women” had been treated heretofore with too
much
leniency.
private rate at Paris to 2%%, which is nearly 2% be¬
low the charge for
discounting bills in Berlin and sixtyday bills in London. At no time during the current
season has there been
danger of an advance in the
French Bank's discount rate above
the3% level, which
the Governors strive to adhere to
irrespective of
changes at other centres. American financiers who
have spent several months abroad this summer state
that France is the only prominent
country in Europe
which has
Mexico has not been alone in
having to contend
with internal disturbances. Rio de Janeiro has this
week been subjected to mild bombardment
not become
infected with the mania for
extravagance; the peasants continue to live in their
accustomed
quiet, thrifty
way,
and in spite of the bad
harvests this year, they have been able to save
money.
The discount range in London is 4
7-16% for
by mutinous
sixty-day
battleships of the Dread¬ spot bills and
for bills to arrive, 4 5-16% for
nought type, but the incident is barren of political ninety-day
spot bills and 4J/g% for ninety-day bills to
significance, having been instigated solely by dis¬ arrive; European bankers were more
perturbed by the
satisfaction over the conditions of service on board
uprising in Mexico than New York financiers, and the
ship. The trouble began on Tuesday evening. When latest news has
produced a cheerful feeling. Berlin
Capt. Neves, Commander of the battleship Minas now charges
only 4%% for accepting spot bills,
Geraes, returned from dinner on board a French while bills to arrive are
quoted at 4^%. At Vienna
training ship, he heard a fusillade of shots, and on money is also dear, the
private discount rate being
offering resistance to the mutineers, he, with two other only a fraction below the
5% Bank rate. Brussels
officers, was killed and a third fatally wounded.
quotes 434%, a shade down from last week, while
Sailors also took possession of Brazil's
only other Amsterdam is comfortable, the market rate being 3^
Dreadnought, the Sao Paulo, as well as the scout ship of 1% betow the
4% official minimum. There are
Bahia, and the insurrectionary squadron was placed no indications that
any European bank rates will have
under the command of an
ordinary sailor of the first to be advanced between now and the new year, unless
class, who handled the ships with considerable skill. unforeseen circumstances arise.
A coal depot was seized and
shipments to a French
and a British steamer
prohibited. The mutineers,by
The Bank of England, having made purchases of
means of the
radiograph, presented their demands new gold in the open market and drawn shipments
to the newly-elected President
Fonseca, who, curiously from Paris, was able on Thursday to record a sub¬
enough, was present when the Portuguese warships stantial
gain in bullion, namely £627,010, bringing
opened the fire on Lisbon that precipitated the suc¬ the total on hand to
£35,591,024, according to our
cessful revolution. The men asked for the
immediate special correspondent in London. This addition to
abolition of corporal punishment on board
ship, an the metallic reserve, however, did not raise the ratio
increase in pay in accordance with a
program of reserve to liabilities; this figure fell from 52.36%
recently submitted to Congress, and less extra work in last week to 51.47% this week. The reason for this
consequence of depleted crews.
Refusal, it was is to be found in the changes in other accounts, notably
added, would cause a bombardment of the city. As an
expansion of $8,890,000 in loans. Deposits, both
the Government did not make
reply, fire was opened public and private, showed considerable gains, though
and continued, though not
fiercely, all night. The circulation did not disclose an increase but a moderate
attack was resumed on
Wednesday, again in only a decrease. The total reserve improved to the extent
sailors
on
board Brazil's
new
Nov. 2o
THE CHRONICLE
1910.]
$5,000,000 (£997,000). The Bank is now
very well situated for the closing week of November,
a fact that evidently impressed itself upon the London
money market, as private discounts came lower when
business was resumed here after the holiday. Our
special cable dispatch also advises us that the £627,010
gain in bullion for the week was due in greatest measure
to purchases in the open market.
The details of the
of almost
1411
The
placing of several blocks of new securities,
ranging from $5,000,000 to $10,000,000, with Euro¬
pean banking interests has been mainly responsible
for the holding down of foreign exchange rates during
the current week.
Bills drawn against these sales,
which have included bonds, notes and stocks, have
coin); exports, £426,000 (of which
£250,000 to Egypt and £176,000 to South America),
and receipts of £284,000 net from the interior of Great
figured in the market in fair volume, but all other
classes of remittance have been in light supply. It is
no longer profitable to draw finance bills
upon either
London or Paris, since money here is as cheap as in
London, and attractive exchange arrangements cannot
be made to take advantage of the 2%% private
discount rate now ruling in Paris. The week opened
with moderately large offerings of cotton bills, which
depressed sight drafts to almost 4 85%, but after these
Britain.
were
movement into and out
of the Bank
were as
follows:
Imports, £769,000 (of which £200,000 French coin
imported and purchases of £569,000 in the open mar¬
ket, including £10,000 French coin and £5,000
United States
absorbed remittance became somewhat
scarce.
Grain bills have been little in evidence.
Exchange transactions having dwindled to a
minimum of 250,000 shares for a full day and cur¬
rency movements with the interior being now in favor
of New York, it is not astonishing that interest and
discount rates in this city have declined. The trend
has been accurately reflected by the fluctuations in
call loans. Thus on Monday the ruling rate was
2/4%, on Tuesday 2%% and on Wednesday only
2%%> the lowest renewal rate in many weeks. Yes¬
terday the rate wras 2% to 2%%> the final loan
being made at 2%. The average rate for the week
has been 2%%, with 2% and 2%% the extremes.
The offerings of time money have also become ma¬
terially larger, and in the absence of inquiry from
brokers the prevailing quotation has declined to 4%
for all periods from sixty days to five months, with
4J4% charged for six months7 loans. Occasionally
Stock
transactions for the shorter maturities
at
4}4%f but those who
also made
are
provide the highest grade
figure. The money
market has not been influenced by the resumption of
gold exports to Canada, as this outflow has been more
than counterbalanced by the inflow of currency from
interior points. An even more encouraging develop¬
of collateral
can secure
can
the lower
ment than the fall in collateral loan rates has been
decline in discounts of commercial paper
5/4% to 6% level which has prevailed for
a
from the
By Wednes¬
day there was very keen bidding by an institution
which has earned a reputation for indulging in specula¬
tion, now on the long side, now on the short side, of
the market.
According to brokers, an extensive short
account had to be covered at all cost this week.
When
trading ceased before the holiday, demand sterling
had touched 4 8615 and cable transfers 4 8665, and
yesterday forenoon the same kind of bidding carried
sight drafts to 4 86although later there was a
moderate relapse.
International monetary fluctua¬
tions have favored a rise in sterling here. Thus, dis¬
counts in London were marked up during the first half
of the week concurrently with notable weakness
in our own money and discount markets. While
call money in London has ruled at 4% @5%, the
rate here has fallen to only 2%%, and at the same
time
accommodation
available
for
most
maturities
has
be¬
4%.
Currency movements
point to another favorable bank statement to-day,
following last Saturday’s gain of $9,063,600 cash and
addition of $7,141,700 to the actual surplus reserve.,
The engagement of $500,000 “ gold for Canada • on
Wednesday is strictly in line with what usually hap¬
pens towards the close of each month at this season;
perhaps other shipments may be made, but the total
outgo is likely to be offset by receipts of currency from
the West and South, where farmers are not receiving
quite so much encouragement this year to withhold
their product from the market and borrow money
come
at
time.
highest standing have been
able to negotiate four to six months’ single name bills
at as low as 5%.
A good deal of business, however, at the banks.
is still done at 534@534%> both for local and outThe outlook for a continuance of easy money here,
of-town account.
Less desirable names range from combined with the hardening tendency at London, is,
5% to 6%. The lower rates are encouraging draw¬ of course, a factor of the first importance in considering
ers
to
increase their output. Companies which the foreign exchange position. Against the disparity
would not have their paper offered around the market in the money rates, however, should be placed the fa ct
at 6% have no objection to obtaining facilities in the that European investors are showing greater interest in
neighborhood of 5%. The bond market is also bene¬ new American issues. The principal local under¬
fiting to some extent by the easier conditions in the writers, all of whom have lately effected flotations,
money market.
The more recent offerings have been found a better market abroad than at home, and once
promptly taken off the hands of underwriters, al¬ the uncertainty that always attends the closing up
though it should be explained that the European ab¬ of the year has passed, it is believed that a broad,
sorption has been relatively better than that locally. healthy demand for our securities will arise on the
Investment houses are now pointing out that very fine other side. The disturbance created by the British
bonds can be purchased to net more than the interest general election is not expected to be either serious
procurable on money lent on Stock Exchange collat¬ or lasting, as it is the earnest desire of all classes to
eral, and inasmuch as even lower rates for money are avoid the upsetting of the very fine business how
confidently looked for within the next two months, being done throughout virtually all trades. Any
it is contended that the outlook is distinctly favorable very large sales of "securities to Europeans might
for bonds bought at to-day’s level of quotations.
easily,, in conjunction with the extensive merchandise
exports of November-December, bring exchange
This week drawers of the
some
1412
THE CHRONICLE
[VOL.
LXXXXI.
quotations down to the gold-import basis; yet the
THE UPRISING IN MEXICO.
general impression in banking circles here (and in
To say that the news from
London) is that no considerable gold movement will
Mexico, at the opening
take place during the remainder of the year. London of the
present week, came as a genuine shock to our
needs gold more than New York needs outside assist¬ people, would not
exaggerate the facts. The markets,
it is
ance.
true, received the
news
with calmness.
Neither
nor abroad could
Compared with Friday of last week, sterling ex¬
any really disturbing effects be
traced
in the movement of investment securities
change on Saturday was firmer, on the basis of
gen¬
4 8595@4 86 for demand, 4 8655@4 8660 for cable erally.
Mexican Government bonds fell two or three
transfers and 4 8210@4 8215 for 60 days.
On Monday points at New York and London, but they were not
here
demand declined to 4 8585 @4 8595, cable transfers to
4 8640 @4 8645 and 60 days to 4 82 @4 8210.
On
Tuesday demand
was
quoted at 4 8585@4 8590 cable
4 8210@
transfers at 4 8640 @4 8645 and 60 days at
4 8215.
On Wednesday, partly on short
covering,
demand advanced to 4 8610@4 8615, cable transfers
to
4 8660 @4
8665 and 60 days to 4 8215 @4 8225.
Thursday was a holiday. On Friday speculation
carried demand up 10 points and cable transfers 20
points, but the close was easier 1
The following shows the daily posted rates for
sterling exchange by some of the leading drawers.
Fri.,
Mon.,
Tues.,
Wed.,
Thiers.,
Fri.,
Nov. 18 Nov. 21 Nov. 22 Nov. 23 Nov. 24 Nov. 25
Brown
Bros. & Co
J 60 days 4 82K
4 86H
Kidder, Peabody & Co
---\Slght-.
/60days
\ Sight..
J 60 days
..-\Sight-—
Bank of British
North America
Bank
Montreal
Canadian Bank
of Commerce-..
_
J 60 days
—
t Sight..
J 60 days
\ Sight..
Heldelbach, IckelJ60 days
helmer &Co_.__ ...'l Sight..
Lazard
J 60 days
Freres
Merchants’ Bank
of Canada
—
\Slght._
j 60 days
---\Slght-_
4
4
4
4
4
4
4
4
4
4
4
4
4
4
The market closed
60
82
86H
82H
86H
82J4
86J4
8234
8634
8234
8634
8234
8634
8234
8634
on
8234
8634
8234
8634
8234
8634
8234
8634
83
87
83
87
8234
8634
83
87
83
87
83
87
83
87
83
87
8234
8634
8234
8634
8234
8634
8234
8634
8234
8634
8234
8634
8234
8634
8234
8634
8234
8634
8234
8634
8234
8634
83
87
83
87
HOLIDAY.
8234
8634
83
87
83
87
8234
8634
8234
8634
The
Commercial
following gives the week's
to and from the interior
correctly foreshadowed the
real nature of the Mexican
situation.
The
why this week's early news was startling
public was less, perhaps, the
situation created in Mexico itself than the
possi¬
bilities which arose to most
people's minds, when the
dispatches were received, as to the diplomatic situa¬
tion in which our Government
might conceivably be
placed. The particulars of the insurrection were
meagre at the best, and were possibly rendered still
less enlightening because of the Mexican Government's
censorship. What appears to have happened was a
more or less spontaneous outbreak of revolt
against
to
reason
the
American
8634
national
from the
and 4
banks
on
seeming alarm at our
appears, however, to have
the Diaz Government in some of the rural districts
of Mexico, a hundred miles or more away
8665@
was
quoted
at 4 81% @4 82 and documents for
payment 4 81%
@4 81%. Cotton for payment ranged from 4 81@
4 81%, grain for
payment from 4 81% @4 82.
4 8675 for cables.
response to the absence of any
State Department. It
8234
8634
8234
Friday at 4 8230 @4 8240 for
days, 4 8615@4 8620 for demand
active and the decline excited no
great misgiving.
This calmness
may have been caused by private ad¬
vices from Mexico, more accurate than the
press dis¬
patches later turned out to be, or it may have been
movement of money
by the New York banks.
capital.
The uprising seemed to be most
provinces.
malcontent, and
violent in the northwestern and southeastern
It was headed by Madero, a
political
the first reports gave some credence to the
report,
subsequently shown to be unfounded, that General
Reyes, formerly Minister of War under Diaz, but more
recently sent abroad on a military mission, had re¬
turned and was taking part in the revolt.
Several of the provincial towns were
captured by
the revolutionists, who appeared to be more or less
scientifically armed and who were able to overcome
the smaller
Received by
Week ending Nov. 25 1910.
Net Interior
N. Y. Banks. N. Y. Banks.
Currency
Gold
Total gold and legal-tenders
With the
Shipped by
Movement.
86,600,000
1,797,000
$3,013,000 Gain
849,000 Gain
$8,397,000
$3,862,000 Gain $4,535,000
Sub-Treasury operations the
$3,587,000
948,000
result is
as
follows.
into
Sub-Treasury operations
Total gold and legal-tenders
Out of
Banks.
Banks’ Interior movement, as above.
$8,397,000
28,565,000
»
$36,962,000
$31,913,000
Gold.
£
England.. 35,591,024
France... 131,878,000
Gernjany. 39,079,700
Russia... 145,704,000
Aus-Hun. 55,303,000
Spain.... 16,395,000
Italy
39,150,000
Nethlands 10,249,000
Na$.Belg._ 5,524,667
Sweden
4,479,000
Swltz’land
6,320,000
Norway.. 2,055,000
Silver.
£
Gold.
£
£
Silver.
£
among
Total.
other
£
*
*
...
•
less im¬
distinctly in the nature of
a
the Mexican people than for
many years.
The
incident of the first week of November,
Mexican border ruffian, having murdered a
was an
wife in Texas, was
lynched and burned at
by Texas cowboys; and when it was for several
days reported that a band of several hundred Mexicans
marching across the border to make reprisals, if:;;
report was baseless, and the; frontier
incident was in a way of sinking into forgetfulness
when the news of the general Mexican
uprising sud,
106,498,757 604,893,925
more or
national tribute
to Porfirio Diaz, and which gave to the world at large
an impression that
contentment was more general
was
36,545,155
when a
36,545,155
142,552,280 35,934,240 178,486,520
39,012,400 12,179,050 51,191,450
ranchman's
143,291,000 6,719,000 150,010,000
56.990,000 11,928,000 68,918,000
the stake
16,091,000 30,797,000 46,888,000
38,380,000 4,000,000
42,380,000;
10,080,000 2,816,800 12,896,800
4,249,333 2.124,667
6,374,000;
4,479,000 4,376,000
4,376t000 i was
6,320,000
5,031,000
5,031,000 j
2,055,000 3 1,797,000
This last
1,797,000 !
Total week 491,728,391103,686.823 695,415,214
498,395,168
Prev .week
488,425,41ljl02,707.663
which
Nov. 25 1909.
Total.
35,591,024
33,401,040 165,279,040
13,715,650 52,795360
6,055,000 151,759,000
11,878,000 67,181,000
30,607,000 47,002,000
3,476,000 42,626,000
1,791,800 12,040,800
2,762,333 ,8,287.000
..
$5,049,000
amount of bullion
Nov. 24 1910.
Banks of
Gain
the whole movement—a
and poor communications—is not at all apparent.
The news had a peculiarly dramatic interest be¬
cause of two other events which
shortly preceded it.
One was the Mexican Centenary of last September,
$3,862,000 Gain $4,535,000
28,051,000 Gain
514,000
1
over
probable contingency, in view of the great distances
Net Change in
Bank Holdings.
Banks.
following table indicates the
principal European banks.
in the
or
tended
Week ending Nov. 25 1910.
The
garrisons. What the motive, provoca¬
purpose of the various revolutionary parties
was, has not been made very clear.
According to the
dispatches,v the successful insurgents in some of the
towns proceeded at once to
open the jails and engage
in looting.
Whether any concerted leadership ex¬
tion
Nov. 26 1910.1
THE CHRONICLE
It is not at all probable that the Texas
connected with the Mexi¬
can revolt, but it naturally drew attention to our Gov¬
ernment’s own position in the event of a possible in¬
ternal contest, prolonged for any considerable time,
among the Mexicans.
The news as the week closes
certainly indicates that the Diaz Government has
quickly regained the upper hand. On the other hand,
to the question, why the insurgent movement should
have occurred just now, there can be no ready answer
denly arrived.
incident
save
was
in any respect
what would be derived from the ambitions of
revolutionary leaders, the great age and necessarily
approaching withdrawal of Diaz himself, and the rest¬
lessness of the Mexican people.
Whether that rest¬
lessness is merely a part of the psychological movement
of political unrest which has been showing itself all
around the globe, appearing in countries as diverse
in character and institutions as Persia, Spain and
England, or whether it is more immediately a revolt
against hardships to which the people of these pro¬
vinces have been subjected, is another question which
it would just now be somewhat premature to attempt
to answer.
We shall
shortly, no doubt, learn something more
regarding these aspects of the question, and the in¬
formation will certainly throw an interesting side-light
on the future.
Happily, the fact seems now to be
reasonably assured that our Government will not be
called upon to take any new position on account of
Mexican civil disturbances.
It .will be the wish of
who has at heart the interests of both coun¬
tries that such a contingency will not arise at all.
Our people owe this great obligation to President Diaz,
that, whatever may have been the incidental defects
of his regime, his firmness in maintaining public order
and diplomatic good relations in behalf of Mexico has
for twenty-five years removed from the sphere of
political consideration one of the gravest questions
which had up to that time repeatedly taxed the re¬
sources of our State Department.
Now, as then, a
prolonged deadlock between two belligerent factions
in the Mexican Republic, with guerrilla warfare and
with anarchy in parts of the country where American
capital is already busy, would call for the most care¬
ful of diplomacy. The similar incidents in both Cuba
and Nicaragua, during recent years, would provide
some more or less troublesome
political precedents—
as when our Government last year almost directly in¬
tervened in Nicaragua, both by sending gunboats to
prevent the bombardment of the capital, and when it
further refused to recognize the diplomatic envoy
of the de facto government. Undoubtedly the fact
that our own territory fronts upon Mexico for a very
considerable distance, as it did not in the case of Nica¬
ragua, and as it only partially did in the case of Cuba,
would render the problem of our Government still
more exacting.
We trust, and we think we see good reason to be¬
lieve, that none of these contingencies will arise,
either in the present instance or in the nearer future.
When one considers, however, the light which this
Mexican uprising throws upon the future, it is not in
all respects encouraging. It has been pretty well un¬
derstood that President Diaz, when he retires from*
office, will virtually name his own successor from his
present immediate Cabinet. Were he to die, the Ad¬
ministration party would presumably take similar
every one
| measures,
tions
1413
and the
more or
which the
less close controTover elec¬
Mexican Government has alwaysmaintained would render probable a vote in favor of
such a candidate.
But what will inevitably occur to
mind in connection with this week’s
episode is the
question, whether succession to Porfirio Diaz can be
quite as peacefully as seemed probable
only a very short time ago, or whether popular unrest,
combined with individual ambitions, might not bring
political disorder to a serious head again.
In any such quarrel over the succession, it is obvious
that our Government could directly take no part. In¬
directly, we might undoubtedly accomplish much
through diplomatic channels, though it is obvious that
in this undertaking the utmost wisdom and sagacity
would be required. On the other hand, it is equally
certain that in the long run our Government could not
tolerate outright and continued anarchy, prolonged
through any length of time, just beyond our southern
border, and in a country where our own citizens have
so largely embarked their
capital and their enterprise.
Perhaps the knowledge of this necessary attitude on
the part of the United States will be the chief reason
why the matter will never assume a really critical
diplomatic shape. Perhaps the very fact that revolt
flared up and was suppressed, before the death or re¬
tirement of Diaz, is a better guaranty of peaceable
succession than if the embers of revolutionary senti¬
ment had merely smoldered.
At the same time,
the recent incident is very distinct notice to our Gov¬
established
ernment that
our
course
with Mexico should be at
liberal, discreet and firm; that our friendliness to
as a nation should
always stand forth as our
first consideration, and that in no way should our Gov¬
ernment, through its diplomatic officers, countenance
anything which should prejudice our future attitude
toward a sister republic.
once
Mexico
MORTGAGE BONDS OF NEW YORK CORPORA¬
TIONS CAN NOW ESCAPE YEARLY TAXES.
An amendment to the tax law of this State
approved
by the Governor last June should have the effect of
commanding increased favor for corporation bonds
secured by mortgages on property in this State,
thereby tending to eliminate the preference for stocks
over bonds on the part of investors seeking
tax-exempt
securities which has heretofore existed. By “taxexempt” we mean exempt from the annual personal
property tax by the individual holders of the bonds
to
which
securities
generally are subject. In
this city the tax is over 1%% Per year, and all
forms of personal property are liable to it except where
there is exemption for some special reason. Every
one
is of
course
familiar with the effort to escape or
evade the
personal property tax by swearing it off
and knows what a feature of our
municipal administration this process has become.
Stocks are not subject to the annual levy, as taxes
in lieu of same are levied by the State upon the cor¬
poration itself. Bonds, however, have never enjoyed
any such exemption, and have been assessed for taxa¬
tion by the taxing officers whenever they could be
located. Under the recording tax law of 1906 ^and
the 1910 amendment to the same it is possible ijlOw
for bonds also to enter the tax-exempt class by the
payment of a single small registry tax, after which
they are forever after relieved of all liability for the
before tax assessors,
1414
!
THE CHRONICLE
annual personal property tax. As soon as the fact
becomes generally known it would seem certain that
holders of bonds will widely avail of the
privilege thus
extended, and doubtless it will not be long before only
a few bonds secured
by mortgage on real property in
this State will remain and be subject to
the annual tax
of
(the rate varying according to location).
As yet the fact that escape from the regular yearly
personal property tax is now open to the individual
bondholder has not penetrated very far, though bank¬
ing and investment houses are endeavoring to give
publicity to the matter. Dominick & Dominick of
this city over a month ago mailed a printed circular
to their clients with the view to acquainting them with
the provisions of the new law, and prominent banking
houses, like Brown Bros. & Co., have also deemed the
subject of sufficient importance to merit the sending
of special communications regarding the matter to
their customers.
As Dominick & Dominick well say,
the substance of the new law is that the holder of a
mortgage bond of
railroad
other corporation may
take his bond to the office where the
mortgage was
originally recorded and upon the payment of 3^ of 1%
a
or
of the face value of the bond, which payment will be
endorsed upon it, can thereby have such bond rendered
exempt forever from all personal taxation in the State
or City of New York.
In other words, the owner of
the bond will thereafter hold his bond free forever of
all personal taxes, whether municipal,
of bonds
IVol
lxxxxi
held by the individual, but it amounts to
$50,000 where the issuing company undertakes to
make payment itself, say
on a mortgage for $10,000,000.
To increase the salability of the
$10,000,000
issue, the $50,000 payment would of course be readily
made; but a corporation is not likely to part with
such a sum of money where the bond issue has
already
been made and nothing
could bejjrained by the act.
Hence very little was done under the old statute
towards securing
exemption for bonds issued under
mortgages recorded prior to July 1 1906.
Under the 1910
amendment, however, the law has
been changed so that the individual holder of the bond
can secure the
exemption which it is clearly to his in¬
terest to have on these earlier issued
mortgages. The
law
as
it
now
stands reads
as
follows:
“and any mortgagor or
mortgagee under
secure a series of bonds,
or the owner
of any such bond or bonds secured thereby, may file
in the office of the
recording officer where such
is
first recorded a statement in form and substance mortgage
as required
by section two hundred and fifty-four of this article, except
that it shall specify the serial
number, the date and amount
of each bond and otherwise
sufficiently describe the same to
a
corporate trust mortgage given to
identify it
being secured by such mortgage, and
as
elect that such bond or bonds be taxed under this article. thereby
A tax
shall thereupon
.
be computed, levied and
collected
upon the amount of the bond
or bonds
specified in the statement filed, at the rate pre¬
scribed by section two hundred and
fifty-three of this article.
Said bonds representing prior advancements under
.
.
.
.
.
corporate
trust mortgages, and taxed as herein
provided, may be pre¬
sented to the recording officer whose
duty it is to collect
said tax, for indorsement, and he shall
thereupon indorse
county or State. upon each of said bonds a statement, attested by his signa¬
Of course, the law applies only to bonds secured
ture, of the payment of the tax as provided in this section
upon in
respect to bonds representing subsequent advancements,
real property within the State of New
York, but is and the record owner of any other mortgage taxed upon
nevertheless of wide application. Heretofore
advancements as herein provided may present said
trustees, prior
mortgage to the
executors
and
others who
could not conceal their
holdings have fought shy of bonds, since if they held
investments of that class they would be unable to
escape the tax.
Now that absolute exemption from
taxation can be obtained, these bonds will no
longer
be in the tabooed class and the demand for
mortgage
bonds ought to be stimulated by that circumstance.
The
change in the law has been effected by amending
taxing real estate mortgages. It will be re¬
the law
membered that after much discussion and
sideration the New York Legislature
long
con¬
finally passed
recording officer and thereupon such officer
shall note upon the same the
filing of the statement [and the
amount of the tax paid, attested
by his signature. In all
such cases the recording officer shall note on the
margin of
the record of such mortgage the
filing of such statement and
the amount of the tax paid, and, in case of bonds secured
by
corporate trust mortgages, the serial number of each such
bond.
The words “bond” and “bonds” as used in this
section shall be deemed to embrace all notes or other evi¬
dences of indebtedness secured by
mortgages taxable under
this section.”
As far
as
the individual bondholder is concerned
the
to
foregoing provisions apply only to mortgages, or
bonds secured by the same, recorded
prior to July 1
1906.
As to bonds issued and
mortgages
recorded
May 1906 providing that real estate mort¬ subsequent to that date, there is of course no need for
gages in this State after July 1 1906 should pay a re¬ any such proviso, since the
payment of a recording
cording tax of one-half of l%,and on the payment of tax of one-half of 1% in such cases is compulsory, and
such tax should “be exempt from other taxation
by the that payment renders such bonds, as we have already
State, counties, cities, towns, villages, school districts seen, exempt from other taxation by the State, the
law in
a
and other local sub-divisions of the State.” The
law
was also made to
apply to corporate bonds secured by
county, the city, the town and all other civil divisions.
It follows that when the
privilege given to the
mortgages of real property within the State. The individual bondholder as regards bonds issued
previous
principle embodied in this provision was subsequently to July 1 1906 shall have been generally availed of,
extended by a later enactment so that
exemption all corporate bonds secured by mortgage of real
could also be secured for mortgages recorded
prior to property in this State will be exempt from the annual
July 1 1906 on the payment of the same recording tax personal property tax.
of one-half of 1%. As far as
corporation bonds,
however,
new
concerned, only the corporation itself STATE REGULATION OF FIDELITY INSURANCE
privilege of optional payment on mortgages
RATES UNCONSTITUTIONAL.
recorded prior to July 1 1906. It is obvious that
the
We referred briefly last week to the decision of
Judge
corporation had no object in making the payment,
Munger in the U. S. Gircuit Court in declaring uncon¬
or at least it had no inducement if
the bonds Issued stitutional what is known as the Nebraska
State Rating
under the mortgage had
already been floated or Law and granting an injunction restraining the Gov¬
disposed of. If it elected to make payment of the ernor, Attorney-General and Auditor of the State
recording tax, it would be called upon to pay out a from enforcing its
provisions. The case is important
considerable sum of money without
having any enough, however, to merit more extended
tangible return. One-half of 1% does not figure out inasmuch as some other States have enacted notice,
statutes
a large sum when
applied to the $10,000 or $25,000 undertaking to fix insurance rates of this
class, and the
had the
are
Nov. 26
THE CHRONICLE
1910.]
1415
As stated, the business of the companies
principles laid down in the present case would appear
engaged in
to be of wide application.
furnishing surety bonds has none of the characteristics
The Nebraska Rating Law here referred to was here noted. Judge Munger observes that this business is
enacted in 1909 and creates a State Board to fix the in no way a monopoly, for individuals and partnerships
rates for fidelity and surety premiums, consisting of are free to furnish such bonds in competition with the
the Governor of the State, the Attorney-General and companies, and to make any charge or no charge for
the State Auditor.
The American Surety Co., one of assuming such risks. No one is compelled to resort to
the surety companies affected by the new statute, the surety companies as practically the only source
deeming the law unconstitutional, instituted proceed¬ from which may be obtained surety bonds. The public
ings in the U. S. Circuit Court, District of Nebraska, interest in the business of the surety companies is no
asking for an injunction to restrain the State officials different from its interest in the business of any large
from enforcing the provisions of the law. These of¬ mercantile or manufacturing
company whose capital,
ficials on their part retaliated by bringing two actions experience and facilities may enable it to have a
widely
for $5,000 each, demanding fines from the company extended patronage.
Yet such characteristics—that
for having resisted the law.
In addition, the Attorney- is, the size of the business—do not make the business
General brought a separate action in equity to have the one which is affected with a
public interest.
American Surety Co. barred from doing business in
Judge Munger also says, with much force, that if the
Nebraska. The suits to impose fines on the company State may fix the amount of
compensation for which
came up before Judge T. C. Munger, who
upholds the an insurer may lawfully contract for furnishing
contention that the law attempting to fix premiums such insurance, the State
may dictate the price for
on surety bonds is invalid and grants the
temporary which all other commodities shall be sold, including
the price which may be paid for labor.
injunction asked for.
Obviously
Judge Munger takes the view that fixing the price of this cannot be done, as the Fourteenth Amendment
insurance or surety premiums is not within the pro¬ to the Constitution protects the
right of those engaged
vince of the State any more than would be the fixing in purely private business to fix the
price at which
of the price of any commodity, and that, hence, any they will sell their services or commodities.
Reference
endeavor of this kind is
violation of the Fourteenth
is made to the
of
People vs. Coler (166 N. Y. 1;
Constitution, under which 59 N. E. 716), where the Court had before it an Act
the States are forbidden to “deprive any person of of the Legislature of New York providing that laborers
life, liberty or property without due process of law.” on public wofks should be paid the prevailing rate
After noting that the real controversy in the actions of wages. This provision of the statute was held to
before him was over the power of the State to fix rates be void, the Court saying that the contractor is a
to be charged for insurance, Judge Munger points out
private individual, engaged in private business. When
that no case has been cited where such a question has he enters into a fair and honest contract for some
previously arisen, although Acts somewhat to the same municipal improvement, that contract is property,
effect have been passed in other States.
He is careful entitled to the same protection as any other property.
to say that the liberty to enter into contracts is not an It is not competent
for the legislature to deprive him
unrestricted liberty, but is subject to the police power of the benefit of this contract by imposing burdensome
of the State. The extent, however, to which the State conditions with respect to the means of
performance
may go in the exercise of this power, in regulating or or to regulate the rate of wages which he shall pay to
prescribing the prices of goods or services, is not clearly his workmen, or to withhold the contract price when
defined.
such conditions are not complied with in the judgment
In earlier days it was usual for Parliament to fix the of the city.
When he is not left free to select his own
rates which lawfully could be charged even by those workmen upon such terms as he and
they can fairly
who were engaged in private business, and such legis¬ agree upon, he is deprived of that liberty of action
lation also existed in the American Colonies before the and right to accumulate property embraced within
adoption of our Constitution. The right to regulate the guaranties of the Constitution, since his right to
the charges for services of those whose business is de¬ the free use of all his faculties in the pursuit of an
voted to public use has been thoroughly established. honest vocation is so far abridged.
It is also well settled that the right exists in the State
Reference is likewise made to the case of Street vs.
to regulate the charges to be made by those whose busi¬ Varney Electrical
Supply Co. (160 Ind. 338; 66 N. E.
ness is affected
by a public interest. Cases are cited 895), where an Act of the Indiana Legislature was in
involving the validity of statutes regulating the charges question. This provided that unskilled labor em¬
which lawfully might be made by those owning grain ployed on any public work of the State, counties, cities
elevators, and in each instance it was declared that the and towns should receive not less than 20c. an hour.
business conducted by them was so affected with a In holding this law to be in violation of the Fourteenth
public interest that the State could regulate the charges Amendment to the Constitution of the United States,
imposed by them. But the characteristics of that the Court said that if the Legislature has the right to
business which led the courts to declare it to be affected fix the minimum rate of wages to be paid for common
with a public interest are entirely missing in the case of labor, then it has the power to fix the maximum rate.
the surety bond business.
These characteristics And if it can regulate the price of labor, it may also
were: The
practical monopoly of the business at the regulate the prices of flour, fuel, merchandise and land.
places where it was carried on and the consequent But these are powers, the Court said in that case,
power to levy tribute upon the community; its rela¬ which have never been conceded to the Legislature,
tion to the business of transportation and to the busi¬ and their exercise by the State would be utterly incon¬
ness of common carriers thus
being of a quasi public sistent with our ideas of civil liberty. The Nebrask i
character.
State Rating Law is held to fall within the principles
a
Amendment to the Federal
case
1416
THE CHRONICLE
announced in these cases, and as there was no way
of separating’the objectionable portions of the law from
the rest, the whole Act
was
declared void.
It may
reasonably be expected that the experience at the
hands of the courts in this instance will have a deter¬
rent effect upon other similar legislation and will tend
to
prevent the enactment of insurance statutes like
that of Nebraska in other parts
of the United States.
A BETTER OUTLOOK FOR THE PROBLEM OF
RATE ADVANCES.
The dinner
Tuesday evening, marking completion
years’ existence of the Railway Business Asso¬
ciation, showed anew what a happy and timely step
was that
organization. As explained at the start, it
has no part in politics and takes no position on any
formally-stated public policy. It was begun by firms
engaged in railway supplies, who found their sole cus¬
tomer the target of assaults growing out of a wide
misapprehension of facts and principles; they there¬
fore associated themselves, out of self-protection, into
a
movement to promote a better
understanding
between their customers and the public and lead to
establishing a practical modus vivendi. The need
of just such a work has been growing as the work itself
has been gathering force. The progress of the Asso¬
ciation is shown by the representative attendance at
the dinner, which included men who stand for an esti¬
mated billion of invested capital and in the
position
of employers of an enormous number of workmen.
The most prominent speaker was the Chairman of the
Inter-State Commerce Commission, and the need of
the Association’s educational work is
emphasized by
the timeliness of the occasion,
coming just as the
question of an advance in rates is in course of a public
hearing.
Chairman Knapp began by saying that continued
growth and prosperity for the country requires three
things: first, a return from railway investments which
shall be both large enough and safe
enough to attract
capital sufficient to improve existing roads and build
on
of two
thousands of miles in new districts now destitute.
It is in common knowledge that the traffic
(VOL.
LXXXXI
compensation of labor in private employment,” is liable
to be interpreted as an
encouragement for still more
of the labor demands which have
produced the present
situation; yet, Mr. Knapp, while condemning “un¬
bridled competition” as a mistake, and
declaring that if
governmental regulation does not succeed, there will be
no
escape from the perils of Government ownership,
made it very clear that he fully realizes the seriousness
of the Commission’s
position as arbitrator. This
seems to indicate that he is
coming to the belief that
rate arrangements
by the roads must be permitted, as
being the natural alternative of the competition which
he pronounces ineffective.
Mr. Willard, in his turn, repeated his
indisputable
proposition that the Commission is now, whether
willing or unwilling to be such, the conservator of
railway credit. Increase of rates is necessary to meet
changed conditions; the Commission must pass upon
that increase; credit depends on net
earnings and a
reasonably safe outlook; therefore, the future life of
the roads and the
prosperity of the country are
placed in the Commission’s hands. This is not
Mr. Willard’s language, but it is his
thought. He urged
keeping discussions free from heat; recognition of duty
by the roads and of rights by the public; keeping out
of politics; dropping all
thought of retaliation; and,
particularly, a term of rest from further regulation
until the roads can work out some of the
many problems »
confronting them.
Speaking from the viewpoint of an investor in retail
stores throughout the country, since he is thus much
more
directly affected by an increase in freight rates
than
wholesaler in New York, Mr. John Claflin an¬
swered in the affirmative the question whether the aver¬
as a
merchant outside of New York will gain by paying
an increase for the sake of
helping the general situation.
He cited a typical case of a store
beyond the Missis¬
sippi, doing a business of a million a year and paying
$3,000 more in freights because of a 12% increase,
and in his opinion such a store would
enjoy a net gain
of twice that sum by reason of increased sales. He
age
therefore believes the railroads will
answer
satisfac¬
output in
1907 was beyond carrying
capacity; it is also as cer¬
tainly, though less generally, known that there are
huge sections (in Texas, for example) which are
almost if not quite bare of tracks. Must we not
(asked
Mr. Knapp) “in the larger public
interest, whatever
may be thought by this or that shipper, make the
business of
furnishing railroad transportation
able to the investor that the
necessary
betterments and extensions will be
this
so
torily the question how to promote general prosperity,
and he pointed out that average
prosperity in business
has always waxed or waned
according to railroad
progress.
In the latter opinion, President Shedd, of
Marshall Field & Co., concurred, a letter from him
being read in which he expressed his belief that the
country is never in enjoyment of full prosperity except
desir¬ when railroad dividends are
being freely made.
funds for
forthcoming”?
On
It is demonstrable that the moderate increase of
rates to which such resistance is made
by some persons
is no serious matter after it is
distributed, as
point of appeal to the investor, President Willard,
by
of the Baltimore & Ohio, in his turn as
speaker, the laws of economics it will be, by being commuted
remarked, it will not serve to tell this investor that he into selling
prices. This means a little more to the
shall have a fair rate, for 11 he will decide
for himself, not consumer, certainly, but it is only a little, and increase
what is a fair return, but what is a return
satisfactory to in prices in one quarter is inevitably followed by
him:1
readjustments. No organization and no statute can
The other two requisites to general
prosperity, said prevent this; therefore, the protesting shipper might
Mr. Knapp, are betterments without
unnecessary in¬ well remember that he is only an intermediary in the
crease in
capitalization, since betterment out of earn¬ process and so has no particular
exposure.
ings ;both avoids permanent addition to the interest
Apropos of the still-continuing attempt to show that
charge and tends to a lower rate by strengthening the economy, and not advance An
rates, is the proper
security of that already invested; also, “payment remedy, it is only just to
say that the railroads already
of liberal wages to an adequ^te'tiumber of
competent have the strongest inducements to practice economy,
men/?;; The reason incidentally stated for this, and if Mr. Brandeis has a genuine
discovery he might'
namely * “the great influence of railway wages upon better take it directly to the
roads; indeed, Mr. Hill,
Kov. 26
THE CHRONICLE
1910.]
1417
he can get his own price marked tendency to transfer deposits to the State banks
which come under this system from the national banks,
from almost any road if he can really show how to which do not
participate in it. It was decided by the At¬
save a portion of the million per day of which he speaks.
torney-General of the United States that national banks
The subject is tremendously large and serious—too could not legally assume the liability involved in becoming
parties to the State guaranty fund.
Under the plan which
much so to be dealt with in a small way or in haste.
is now proposed, however, the Attorney-General it is stated
It must be treated “in the larger public interest/' and has decided that it is legal and competent for a national bank
not determined by “whatever may be thought by this to pay a small sum to a company which audits and insures its
or that shipper/' as Mr. Knapp said.
The problem is assets. It is anticipated, therefore, that there will be a
strong inclination on the part of national banks in the States
not how to satisfy outcries—which is always rather a
laving State guaranty funds to enter the bi-central banking
hopeless undertaking, because granting demands of one system. It is argued by those who have formulated the
quarter or interest pretty surely starts a cry from some flans that the mere increase in deposits which will come to a
other which fancies itself hurt in turn.
The problem is lank from being known as a client of the new enterprise
will fairly cover the small cost of the audit and insurance.
to deal broadly and wisely for the general welfare, and
One of the ramifications of the proposed plan is the exami¬
what was said at the dinner gives renewed assurance nation of commercial paper and of the institutions which
offer it for discount.
The Audit company will indicate to its
that it will be treated to that end.
clients a decided preference for loans and discounts by them
upon the paper of institutions which are not afraid to submit
of the Great Northern, says
proposed for the banks themselves.
possible to check the abuse of credit by over—The public sales of bank stocks this week aggregate 182
extension, which has proved fatal in several recent cases to
shares, of which 162 shares were sold at the Stock Exchange
large institutions and has involved heavy losses to their
and 20 shares at auction.
The only transaction in trust bankers.
Along these lines it is hoped to realize in a measure
company stock was the sale at auction of 100 shares of stock the
policies of the Comptroller of the Currency and the
of the Broadway Trust Co. at 144.
American Bankers’ Association for a record of the amount
Sfuires. BANKS.—New York.
Low.
High. Close.
Last previous sale
of paper put afloat by large borrowers and the exchange o f
*60 Commerce, Nat Bank of— 200
Nov 1910— 200
200 H 200
•102 Fourth National Bank—- 196
Nov 1910— 196
196
196
credit information on the subject.
BANK—Brooklyn.
It is possible that the new corporation will, in some cases,
20 City Bank, National
285 H 285 H 285 M Nov 1910— 292 H
TRUST COMPANY—New York.
put its name upon such paper. This will be done with ex¬
100 Broadway Trust Co
144
144
144
Nov 1910— 145
treme caution, however, and will only bind the Audit Com¬
Sold at the Stock Exchange.
pany in case of failure of the bank first discounting the
—A plan to improve the character of banking assets by paper, because the signature of the company will appear
careful audit and by a form of insurance for the assets of only as the guarantor of the signature of the bank. If such
sound banks is about to be launched by a group of bankers a guaranty is given, the paper will bear three good names—
that of the maker, that of the discounting bank and that of
who have given much study to the subject.
It is proposed
the new company.
This will give to it something of the
to incorporate a trust company under the laws of the District
character of quickly convertible assets, which are so essen¬
of Columbia with the title of “The National Bank Audit
tial to the flexibility and safety of the banking system.
Co./’ with the Hon. Wm. Barrett Ridgely,former Comptroller
of the subject will be very carefully studied
of the Currency, as President.
This company will undertake This branch
before being put into operation by Mr. Ridgely, who is
to examine and audit the assets of banks desiring to partici¬
familiar from his experience as Comptroller with the causes
pate in the plan. If their assets are found in good condition,
of bank failures and the weak points in bank management;
they will be permitted to enter the system and will be sub¬
jected to special examinations semi-annually as long as they by Mr. Charles A. Conant, who, as Treasurer of the Credit
remain clients of the Audit Company.
So long as these Clearing House, has long advocated the exchange of credit
information among the banks, and who will probably be an
member or client banks comply with the conditions of the
officer of the company, and by other experts.
contract which will be offered to them by the new company,
The Audit Company expects to organize at the beginning
the latter will undertake to make good any deficiency in
of the new year, with a paid-up capital and surplus of
assets to an amount sufficient to pay liabilities in case of
liquidation. This offer will not extend to the liability of $1,500,000. The bi-central system will not be put in opera¬
stockholders, but will in effect protect absolutely depositors tion, however, in regard to the assets of banks until con¬
tracts have been made with a sufficient number to afford
and others having legitimate claims.
a fair basis for averaging losses in case any should any occur.
The theory upon which this protection will be afforded is
It is probable also that the capital will be considerably in¬
based upon the statistical history of forty-six years of the
creased before contracts with the client banks go into effect.
national banking system.
These statistics have shown that
The capital and surplus are, of course, only in the nature of
the average loss to depositors and other claimants by bank
a guaranty fund
to cover unexpected losses. The semi¬
failures and liquidations has been a small fraction of 1% of
annual premiums for audit and protection of assets will be.
the total liabilities of all operating banks.
It has been upon
these figures that the advocates of a more flexible currency sufficiently large to cover the amount required upon the
have based their calculations of the contributions required average to enable liquidating banks to meet their liabilities
in full, with ample margins for contingencies.
While a
to constitute an adequate fund.
By extending the same
of
capital
and
surplus
will
be
kept
in
cash,
part
the
a large
principles to the entire volume of a bank’s liabilities, except
be
character
proportion
will
invested
in
securities
of
the
to stockholders, it is believed that for a very moderate charge
what is equivalent to a guaranty of the payment of deposits required to secure circulation under the general provisions
of the Aldrich-Vreeland Law.
This will enable the new
in case of failure can be given to those banks which comply
with proper requirements.
If the average loss in all national company to render an important service to its member banks
banks—good and bad, conservative and speculative, honest during the crop-moving season or on any occasion of emer¬
and fraudulent, in pioneer communities as well as in the gency by promptly lending these securities to the banks
to be used as a means for taking out additional notes.
The
cities—has been much less than a quarter of one per cent, it
is calculated that much better results can be obtained from company will be protected against any possible loss by re¬
quiring the member bank to deposit good securities more
a selected class of banks complying with the rigid require¬
than covering the value of those borrowed, but not falling
ments of the new company.
within the classes required by the Aldrich-Vreeland Law.
The new plan is called “bi-central banking” because it is
In this manner the company will be able to relieve its mem¬
intended to create two centres of financial responsibility—
ber banks from any anxiety as to a deficiency of currency,
the resources of the individual banks and the guaranty fund
off the National Bank Audit Co., with its reserve of cash and to contribute its share to making impossible a currency
and other quickly convertible assets.
One of the motives famine like that of 1907. Several leading bankers who have
which it is expected will attract clients for the new project been consulted are understood to have expressed the opinion
is the benefit to a bank from making known to its depositors that the new plan is sound in principle, entirely feasible, and
that it is a member of such an organization.
In the five or eminently safe, if conducted along the conservative lines
six States which have adopted the system of guaranty of which ex-Comptroller Ridgely and his associates are laying
deposits under compulsory State law there has developed a down.
ITEMS ABOUT BANKS,
BANKERS AND TRUST CO S.
to the same sort of audit
It will thus be
*
.
THE CHRONICLE
—“Treasury Decisions”
for Nov. 17 contains the
announce¬
ment of the appointment
of a committee on
by Secretary Franklin.MacVeagh
departmental efficiency and economy
to carry forward
improvements in the administration of the
Department which have been under way for some months.
The announcement is
as
follows:
Treasury Department, October 29, 1910.
To All Officers and
Employees, Treasury Department:
I have appointed a
committee on departmental efficiency and economy,
consisting of Messrs. James L. Wilmeth, Chief Cleric,
Treasury Department;
M. O. Chance, Auditor for the
Post-Office Department; and Lawrence
O. Murray, Comptroller of the
Currency, to take charge of and carry
for¬
ward the Improvements in
administration of the Department which have
engaged our attention for many months, and also to
represent this Depart¬
ment in the matter of the
President’s inquiry into economy and efficiency.
In this connection, I
beg to invite the co-operation of every one con¬
nected with the
Department, and I especially Invite all helpful suggestions.
All such suggestions will be
most
carefully and cordially considered by the
committee in the first instance, and then
by me.
All of the Departments of the
Government will
work of
now
FRANKLIN MAC VEAGH, Secretary.
—It is stated that a
meeting of the National Monetary
Commission is to be held in Washington
on the 30th inst.,
at which Senator Aldrich
hopes to be able to submit to the
other members of the commission the
skeleton framework
which may be used as the basis for
discussing the formal
report which the Commission will present to Congress.
—A. W. Hudson has
resigned as Secretary to New York
State Comptroller Clark Williams to enter
the employ of
the State
Banking Department. Mr. Hudson, it is an¬
nounced, will undertake the organization of a liquidation
bureau in the Banking
Department, necessitated through
the operation of the law
placing the liquidation of insolvent
banking institutions in the hands of the Superintendent of
Banks.
—The Appellate Division of the New York
has vacated the injunction obtained last
Supreme Court
month
Lee,
by James
curb broker of this city,
restraining the enforcement
of the Act intended to
govern the
of
a
banking
concerns in this State.
business
small private
The State and county of¬
ficials had been enjoined from
enforcing the law by Justice
Bijur of the State Supreme Court, who, in an
opinion ren¬
dered on Oct. II, held the law to be
unconstitutional. Jus¬
tice Bijur, whose opinion
was quoted at length in our issue
of Oct. 15, stated in his
findings that “it is to be noted that
the statute distinguishes between
of
wealth, and that the conduct
persons of different
of this business is
substantially to persons who have
rather than to persons of
approved
ment, and that
a
degrees
restricted
a
minimum of $20,000
or sound judg¬
probity
person who can procure a bond of
$100,000
entirely from the restraints of the Act.
This is a novel standard in our
legislation.” The decision
vacating the injunction of Justice Bijur was handed down
on the 18th inst.
by the Appellate Division, to which the
case had been carried
by Attorney-General O’Malley and
State Comptroller Williams. The
opinion, concurred in
by all the Justices, was written by Justice Clarke.
No con¬
clusion, however, as to the validity of the law was
expressed
by the Court. Speaking through Justice
Clarke, the Court
says: “We decline to pass upon the
constitutionality of the
Act, for we are convinced that no cause
of action is stated of
which a court of
equity has jurisdiction, and hence no in¬
junction can be allowed.”,
can remove
himself
lxxxxi.
capital of $100,000 is in shares of $100 and the dividends
it are limited to
7%. The minority holdings have never
possessed as high a value as those of the
majority interest,
although President Paul Morton is stated to have paid
$2,000
a share in the
purchase of five shares of the company’s
stock.
While the price figuring in
the acquisition of control
by J. Pierpont Morgan a year ago has never been
made
public, it is the generally accepted belief that Mr.
Morgan
paid at least as much for the holdings
bought
from Thomas
F. Ryan as the latter himself
originally paid for control.
Mr. Morgan, it will be
remembered, last year took over all
the holdings of Mr.
Ryan, including the 502 shares bought
by Mr. Ryan from James Hazen Hyde in 1905. Mr.
Ryan,
it was
understood, had paid $2,500,000 for the Hyde hold¬
ings.
on
be engaged in this
departmental efficiency and economy, and the esprit de
corps of
each Department will, of
course, be appealed to.
I hope the public spirit
of our Department will be
conspicuously in evidence.
[VqLu
of
—Three members of the firm of Burr
Brothers, promoters
mining and other ventures, were taken into
post office inspectors
the offices of the
on
Monday, when
concern
custody by
a
raid
was
made
on
in the Flatiron
Building, this city.
charge of the quarters of the Conti¬
nental Wireless
Telephone & Telegraph Co. at 56 Pine St., and
placed under arrest Charles L. Vaughan,
formerly VicePresident
The
inspectors also
took
and Treasurer of the
company, and also Treasurer
of the Columbia Finance
Corporation, likewise located at 56
Pine Street, and Assistant Treasurer of
the Collins Wireless
Telephone Co.
All
four
individuals were placed under
$10,000 bail. A statement in explanation of the arrest
was
issued by Postmaster-General Frank
H. Hitchcock, which
said in
part:
“The arrest to-day by
Post-Office inspectors of the principals in two im¬
portant companies. Burr Brothers, with
offices in the Flatiron
Building,
and the Continental Wireless
Co., with headquarters at 56 Pine
Street,
constitute two more cases in the series of
investigations that the postal au¬
thorities have been making in their
crusade against the fraudulent use
of the United States mails.
With the work accomplished
to-day, 78 such
cases have been
brought to a head during the year. It is estimated that
the swindling operations of these 78
cases have filched from the
American
people in a period of five years over $100,000,000.
The crusade now in
progress Is the result of a carefully laid
plan of some months ago, the first
step in which was a thorough reorganization
of the inspection service, with
the selection of a new Chief
Post-Office Inspector and certain
changes and
re-assignments in the force of inspectors In charge of the
fifteen inspection
divisions.
*
•
'**•>•
*
•
»
“Formerly the procedure
in such fraud cases was
entirely different.
It
was the practice to issue a fraud
order against the guilty concerns.
This
method proved to.be ineffective; while it
deprived the offending concern
of the use of the mails, it was a
simple matter for its promoters to reorganize
under a new name and thus evade the
law.
In the Department’s
present
crusade the practice has been to
proceed Immediately to the arrest of the
principles in the fraudulent enterprises, the object
being to secure the
prompt conviction and Imprisonment of the men who
organize and promote
these schemes to defraud.
The results already
accomplished by the
Department represent only the beginning. The work of
investigation and
prosecution will proceed with all possible
vigor until the swindling of the
people through the use of the malls is brought to an end.’’
In its
complaint against Burr Brothers, the Government
can safely be said that
they sold stock at
par value of from $40,000,000 to $50,000,000.”
The com¬
plaint also says that “in every instance they have
promised
large dividends on the stock sold, in addition to an increase
in the value of the stock, but in hot a
single case have any
of the companies
paid any dividends, and practically all of
them have been complete failures.” The three
members of
the firm arrested in this city are Sheldon C.
Burr, President;
Eugene H. Burr, Secretary and Treasurer, and Frank H.
Tobey, Vice-President. Charles H. Tobey, also said to
have been formerly connected with the
firm, was arrested
—The annual dues of the
Philadelphia Stock Exchange near Blooraingdale, Mich., on Tuesday, and released under
have been increased by the
Governing Committee from $25 bonds of $20,000. E. W. Preston was likewise arrested on
to $100.
The change is to
go into effect on Jan. 1, and the the 21st inst. in
Portland, Ore., on a warrant charging
dues will be payable
yearly in advance, instead of
him with using the mails to
defraud, the arrest, it is reported,
quarterly
as
now.
The Exchange has 230
members,
and at the having been made in connection with the raid on Burr
advanced rate the receipts will be
increased from $5,750 to Brothers.
$23,000 yearly.
—It is reported that John W.
cotton firm of
Knight, Yancey &
the Federal Grand
states that “it
The offices of the International Finance Co. at 154 Nas¬
Knight, head of the failed sau are also reported to have been closed
by post office
Co., has been indicted by inspectors.
Jury at Huntsville, Ala., on charges of
—A new number of the “Bankers’
using the mails to defraud. The charges, it is
Encyclopedia,” the
said, concern
the use of alleged fraudulent
September 1910 edition, has made its appearance. The
bills of lading
covering fictitious
shipments. Mr. Knight was arrested at Decatur
publication is one of the most complete of its kind. Not
and taken
to Huntsville on the
23d, but was released under bonds of only does it present detailed information relating individ¬
$20,000. The failure of the firm, which had a
ually to the country’s banks and trust companies, but it
number of
Southern offices, with
headquarters at Decatur, occurred also contains much other useful data. A new feature of
in April last, and was
directly responsible for the contro¬ the present issue is the inclusion of a special list of surety,
audit companies and expert bank auditors of New
versy which has since arisen between the
York
foreign and Ameri¬
can bankers over the
City,
and a list of dealers in commercial paper. The laws
bill-of-lading question.
of the various States
—The sale on
regulating banking, the rules of re¬
Wednesday, at auction, of five shares of stock
of the Equitable Life
sponsibility for collections as interpreted by the Supreme
Assurance Society of this
city, at $300 Courts of the States, the date of
per share, has attracted some attention.
legal holidays and legal
The company’s
rates of interest comprise some of the
regular features of the
THE CHRONICLE
Nov. 26 1916. J
Encyclopedia. The work is published by the Anthony
Stumpf Publishing Co. of 22 Pine St., this city.
—A discharge from bankruptcy was granted to Edward D.
Shepard, senior partner in the firm of E. D. Shepard & Co.
of this city, by Judge Hough on the 21st inst.
Following the
filing of an involuntary petition in bankruptcy against the
firm on April 19 1909, it was adjudicated bankrupt by Judge
Holt of the U. S. District Court on June 11 1909.
Schedules
in bankruptcy filed on Aug. 3 of that year showed liabilities
of $9,758,348 and nominal assets of $8,411,427.
—The litigation over the fees allowed in the receivership
of the Brooklyn Bank of Brooklyn Borough during its sus¬
pension, from October 1907 to June 1908, has been finally
settled under a decision of the Appellate Division of the Su¬
preme Court.
The allowances to the receivers and their
counsel were brought into question by Charles M. Higgins,
one of the receivers, who sought a review of the same.
Mr.
Higgins had been allowed $19,000, of which, he stated, he
had returned what he considered the excess of his share,
namely, $4,000. The co-receiver, Bruyn Hasbrouck, had
been allowed $23,000 and an allowance of $22,000 was made
to James C. Church and J. Edward Swanstrom, the receiver’s
counsel, who, Mr. Higgins alleged, had signed an agreement
to perform all the necessary duties for twelve months for
$14,000, and proportionately less if the contract or receiver¬
ship terminated sooner. In a decision given by Justice
James A. Betts of the Supreme Court, in July 1909, the fees
allowed
held to be neither excessive
Banking Department under date of Nov. 10 reports deposits
$171,079 and aggregate resources of $368,938. The cdfifi4'
pany was organized in March with $150,000 capital and $50,000 surplus, the shares being sold at $133 1-3 per share—
par $100.
Otto Kelsey, formerly Comptroller of the
State of New York and also formerly State Superintend¬
ent of Insurance, is President of the company.
The other
officials are William E. Holloway ami Charles W. Bryan,
Vice-Presidents; Frank D. Kirven, Vice-President and Secrfitary, and A. C. Schlesinger, Treasurer.
of
—The Nov. 10 statement of the Merchants’ National Bank
of Providence,
R. I., shows that deposits have grown to
$7,572,062 from $6,915,782 on Sept. 1 1910. Aggregate
resources are reported at $10,172,545.
Robert W. Taft is
at the head of the institution, with Horatio N. Campbell
Vice-President; Moses J. Barber, Cashier, and Frank A.
Greene, Assistant Cashier.
—John D. Johnson, President of the Ronald & Johnson
Company, has been added to the directorate of the West
End Trust Co. of Philadelphia.
—At a recent meeting of the board of directors of the North
Scranton Bank at Scranton, Pa., the resignation of Thomas
R. Brooks as President, which has been in the hands of the
directors for several weeks, was accepted, and John R. Ather¬
ton, the former Vice-President, elected to fill the vacancy,
Valentine Bliss and P. J. Ruane
D. R. Atherton is Cashier
are
Vice-Presidents and
.
in violation of
—The indebtedness of the City Saving Fund & Trust Co.
which prohibits bank receivers from getting in ex¬ ofL ancaster, Pa., to the city of Lancaster was finally dis¬
cess of $12,000 a year for their services.
Justice Betts at charged on the 3d inst. At the time of the failure of the insti¬
the time pointed out that the law under which the allow¬ tution in January 1905 the city was a depositor to the ex¬
ances were made provided for 2J^% on all sums received
tent of $155,738, and the interest allowed on the account in
and disbursed, if such allowances do not exceed $12,000 in the interval brought the total up to $166,418.
In the three
any one year, and such additional allowance, not exceeding dividends paid by Receiver J. H. Rathfon, aggregating
5%, upon final accounting as the Court may consider the 58%, the city received $93,164; from May 2 1906 to June 10
services warrant.
His decision is now reversed by the 1910 the company’s bondsmen paid over to the city $65,165,
Appellate Division, and the “Brooklyn Eagle” states and on Nov. 3 1910 there was a final payment of $8,089
that under the present ruling the lawyers’ fees will be fixed on to the city by the bondsmen.
In the latter settlement the
a basis of $14,000 per annum for the seven months’ work,
city transfers any moneys that may be credited to it on the
while Mr. Hasbrouck’s fee will be kept down to the legal fee final distribution of the funds of the institution to the trus¬
for receivers.
tee for the bondsmen.
The county and State accounts,
—Frederick H. Schroeder, formerly a Vice-President of we are informed, were settled on the same basis; the county’s
the Eagle Savings & Loan Company of Brooklyn Borough, claim was $38,250, while that of the State was $65,000.
was released from Sing Sing Prison on the 23d inst. after
—The liquidation of the Citizens’ National Bank of Johnserving one year, following his conviction on charges of mis¬ town, Pa., has practically been completed, the final distribu¬
appropriating the funds of the institution. He had been tion to the stockholders, it is stated, having just been made.
sentenced to an indeterminate term of not less than one year The bank was placed in liquidation last December, when its
nor more than four and a half years.
business was merged with that of the First National Bank of
—It is reported. that the indictments against John G. Jen¬ Johnstown.
The latter is reported to have paid $410 per
kins Jr., Frank and Fred Jenkins, which were handed down share fpr the majority stock in the Citizens’, or about 600
following the suspension in October 1907 of the Jenkins Trust shares. According to the Pittsburgh “Gazette-Times,” the
Co. of Brooklyn Borough, were dismissed by Supreme Court minority interest, which did not enter into the transaction,
Justice Stapleton on Tuesday upon motion of District Attor¬ refused to dispose of their holdings, maintaining the stock
ney Clarke of Kings County.
Indictments said to allege to be worth at least $500 per share. Following the recent
forgery in the third degree and conspiracy were returned sale of the property of the bank, all the assets were divided
against all three in November and December 1907. In ad¬ pro rata among the1 stockholders, the final distribution, it is
dition, John G. Jr. and Frank Jenkins were also reported to reported, being made on the basis of $361 52 per share.
have been indicted on charges of perjury.
—Since Sept. 1 1909 the Mellon National Bank of Pitts¬
A motion for a
change of venue was granted in March 1908, at about the burgh has increased its surplus and undivided profits from
time of the death of John G. Jenkins Sr.
The “Brooklyn $2,832,496 to $3,296,346 oh Nov. 10 1910, and this too after
Eagle” states that John G. Jr. was later indicted for grand the payment of five dividends totaling $300,000'.
The
larceny but the trial resulted in his aoquital. After that, bank has a capital of $4,000,000 and its aggregate resources
the “Eagle” reports, District Attorney Clark tried to have in the newest statement are $45,441,436.
Justice Scudder send the other indictments back to Brook¬
—At a meeting last month the stockholders of the Scranton
lyn, but failed, and, deciding that an attempt to prosecute Trust Co. of Scranton, Pa., approved a proposition to in¬
would be futile, he moved to have the indictments dismissed. crease the capital from $200,000 to $300,000;
One-half of
-—Justice Stapleton of the Supreme Court this week con¬ the new issue was allotted to the existing shareholders at
curred in the motion of District Attorney Clarke to dismiss $160 per $100 share, and the directors were authorized to dis¬
the five indictments against William Gow, formerly a pose of the other half at their discretion at a price not leiss
director of the Borough Bank of Brooklyn Borough.
Mr. than $160; 25% was made due Nov. 1 1910 and 25% each
Gow had been indicted in November 1907, following the quarter until paid.
—In response to an inquiry made by us with regard to the
suspension of the bank the previous month. He was tried
on one of the indictments in
February 1909, but the jury dividend payments to the creditors of the failed City Trust
was unable to
agree on a verdict.
In his application to have & Banking Co. of Baltimore, we have received from Augustus
the indictments quashed, District Attorney Clarke is re¬ C.
Binswanger, receiver of the stockholders’ liabilities in
ported to have advised Justice Stapleton that the case had the institution, the following information:
November 14, 1910.
been submitted once to the
jury, which had disagreed, Wm. B. Dana Co., New York, N. Y.:
and that it would be impossible to
present a case that would
Gentlemen.—Your favor of Nov. 11th in the matter of'dividends declared
be any stronger from the
prosecution’s point of view. The and payable to depositor* of the City Trust a* Banking Co. from moneys
charges against Mr. Gow concerned the alleged use oi obtained from stockholders under their statutory liability, to hand.
Creditors had obtained 30% of their deposits from Carrington a Pennl$145,000 of the funds in the bank belonging to an estate to man, receivers of the assets In the ease of John A. Sheridan Co. VSL The
assist in the financing of the International Trust Co.
City Trust & Banking Co., a proceeding to wind up the banking company.
Creditors whose claims aggregate 1200,000 became parties plaintiff to a
The Huguenot Trust Co. of New
Rochelle, N. Y.„ which general creditors^ bill filed by John A. Murphy against till the stockhoIdek&t
began business on Aug. 1, in its initial statement to the to obtdln 70% still due out of the statutory liability of the stockholders.
were
nor
the law,
i
1430
THE CHRONICLE
The last paid dividend, Oct. 2ft
1910, was 1%; previous thereto In three
dividends 18.05% was paid to creditors.
The Institution suspended June 7
1903, and these proceedings were Insti¬
tuted June 17 1903.
It Is possible that another small dividend may be paid,
Yours very truly,
U
AUGUSTUS C. BINSWANGER.
,
—The
was
Savings Bank of Brunswick, at Brunswick, Md.,
on the 14th inst.
by the State Banking Depart¬
pending an examination of its affairs. The bank was
closed
ment
organized in 1892, and no statement, it is said, has ever
been issued by it.
Its closing is said to have resulted from
the new banking law which went into effect on June 1 of the
present year, and which, in its more stringent regulation
of the State institutions, requires their periodical examina¬
tion.
The institution was a savings bank without any
■corporate stock. John S. Newman and John C. Motter were
■appointed receivers on the 15th.
—In the
new
statement sent out
Bank of Cleveland,
by the First National
note the following interesting facts:
(1) That Cleveland is the sixth city in size and importance
in the United States; (2) that the First National Bank was
the seventh bank to organize under the national bank system
we
in the United States;
Oklahoma City.
M.
[VOL.
LXXXXI.
He became Commissioner, succeeding A.
Young, during the
summer.
—An application to convert the American
Bank of Sioux
Exchange State
Falls, South Dakota, into the American
National Bank has been
approved by the Comptroller of the
Currency. The capital under the national system will be
$100,000.
—“Kentucky’s oldest bank,” the National Bank of Ken¬
tucky of Louisville, reports another increase in its business,
according to the new statement just issued. Deposits are
given as $5,981,130 on Nov. 10, as compared with $5,437,334
on
Sept. 1 last, while resources have advanced from $9,998,765 to $10,718,843
during the same period. This institution
was established in
1834.
It has a paid-up capital stock of
$1,645,000 and surplus and profits of $1,365,415. The
official staff is headed
by Oscar Fenley as President; J. M.
Atherton is
Vice-President, H. D. Ormsby is Cashier and
D. W. Gray and T. J. Wood Assistant
Cashiers.
—Under the last official call of Nov.
10, the Hermitage
National Bank of Nashville,
Tenn., reports aggregate re¬
sources of $1,006,139.
This new institution, of which Hon.
Frank Dibrell, Comptroller of
(3) that it is the twenty-fifth bank in
deposits in the country; (4) that it is the first bank in
Tennessee, is President, has a
deposits of the national banks in Ohio. According to the capital of $300,000.
W. J. Cude and Jo, J. Green are
new statement called for
by the Comptroller under date of Vice-Presidents, E. S. Brugh, Cashier, and A. B. Cummings,
the 10th, the bank has deposits of $27,048,660 and aggregate Assistant Cashier.
resources of $33,435,139.
—The Continental
The capital is $2,500,000 and sur¬
Savings Bank of Memphis, Tenn., was
plus and profits $1,345,697.
placed in the hands of Hunsdon Cary, as receiver, on the
—An initial dividend of 1% quarterly, payable Jan. 1, 11th inst., following the suicide of its President, D. F. M.
The application for the
has been declared by the directors of the Pearl Street Schas.
appointment of a receiver
Market Bank of Cincinnati.
The bank began business was in accordance with a resolution of the directors, who in
their petition, it is reported, stated that the bank was in¬
in September 1907 with $100,000 capital.
The authorized
solvent,
and that the sudden death of its President had
capital was increased to $200,000 the present year and the
brought about a state of confusion in its affairs impossible to
paid-in amount is $150,000.
-4
—The Second National Bank of Toledo recently effected the straighten out before the opening of business on the 12th,
when it was feared a run might be made on the institution.
purchase of a piece of property known as the Hartford Block The bank
had increased its paid-in capital since the summer
at Summit Street and Madison Avenue.
According to the To¬ from $25,000 to $50,000. A statement
of its condition on
ledo “Blade,” the property, which is taken over for
$275,000 the 10th inst.
gives
the
deposits
(individual
and time)
cash, brought the highest price per front foot ever paid
as
$446,284.
Mr.
Schas,
the
late
President, was fiftyin the city.
The block has a frontage of 60 feet on Summit
five years of age.
The
Memphis “Appeal” states that
Street and a depth of 120 feet. The bank intends to erect
his action in taking his own life is
thought to have grown out
a new building on the site, in which
it will have more ade¬ of financial
worries and ill-health.
These worries are under¬
quate facilities than at present, but its plans with regard to
stood to have concerned his indebtedness to the
bank, said
the same are not yet fully determined
upon. The lease on its to have amounted to
and
$70,000,
a depreciation which is
present quarters still has five years to run. The Second Na¬
reported to have occurred in the collateral securing the
tional has a capital of $1,000,000 and a
surplus fund of $1,- loan.
000,000, and in addition reported undivided profits of $263,—As a souvenir of a quarter of a
442 in its November 10 statement.
century of “continuous
Its deposits under that
growth,” the National Bank of Savannah, at Savannah,
date were $5,733,174, while its resources
aggregated $9,695,Ga., is distributing an elaborate brochure to its friends.
409.
Besides reproductions of both the exterior and interior of its
—At the annual meeting of the
Minneapolis Trust Co. of handsome bank
building, the book contains photographs
Minneapolis, Minn., on the 9th inst., J. S. Bell was elected of
the present officials and an excellent portrait of the late
First Vice-President of the institution to succeed W. H. DunHon. Herman Myers, the founder of the bank, and who
woody.
was its President for
twenty-four years up to the time of his
—An opportunity to view the new
building of the City Na¬ death last year. Sigo Myers, the present head of the institional Bank of Omaha and the bank’s own
quarters in the tion, is a brother of the late
President, and had been for a
building was afforded to the public on the 12th inst. The number of
Vice-President
years
of the bank. Wm. W.
entire structure, which is sixteen stories
high, was open for Williamson is Vice-President, F. D. Blood worth,
Cashier,
general inspection from 3 to 10 p. m., and the invitation was and R. R.
Withington, Assistant Cashier. The bank has a
availed of by large numbers of
people. The main banking capital of $250,000 and
surplus of $460,000.
room, which is on the street level, is 132 feet by 44 feet. The
interior is of mahogany and marble and
—Hugh T. Inman, Vice-President of the Atlanta National
every facility and
Bank, and well known in the South as a cotton factor, died in
accommodation requisite to the modern bank is
provided New York on the 14th
inst. at a
in the new offices.
The building is owned by the
City Na¬ he had been under treatment for private sanitarium, where
tional Bank Building Co., and John F.
neurasthenia for several
Flack, President of months. Mr.
Inman was born in Dandridge, Tenn., sixtythe bank, is Treasurer of the
company. The City National
three years ago.
Bank was organized as a department of the Omaha
After the Civil War he located in New
Loan &
York, where he became associated in business with his
Trust Co. in 1884, and incorporated in 1888 as the
Omaha
uncle.
He later moved to Savannah, engaging in the cotton
Loan & Trust Co. Savings Bank.
It became the City Sav¬
business,
and still later established himself in Atlanta, taking
ings Bank in 1901, and last year was converted into the City
a prominent part in the
National Bank. The stock of the
development of many of its indus¬
savings bank was purchased
trial interests.
He was identified with the Atlantic Compress
in November 1901 by a syndicate
organized by John F. Flack,
& Warehouse Co., the Atlanta Home Insurance Co., the
the present executive.
Exposition Cotton Mills, the Kennesaw Guano Co., and was
—The Hamilton National Bank, the latest addition
to the a director of the Trust Co. of
Georgia and the Southern Loan
banking institutions of Denver, began business on the 16th &
Banking Co.
inst. The application to organize the bank was
approved by
—Action towards the liquidation of the Citizens’ Bank of
the Comptroller of the
Currency last month. It has been Louisiana, at New Orleans, and the establishment of
its
formed with $250,000 capital and is under the
management of proposed successor, the Citizens’ Bank & Trust Co. of Lou¬
T. A. Cosgriff, President; A. R.
Couzens, Vice-President; isiana, was taken at a meeting of the stockholders of the
and E. J. Weckbach, Assistant Cashier.
bank on the 15th inst.
A reference to the impending step
—E. B. Cockrell has tendered his
resignation as Bank Com- was had in our issue of Oct. 29. After seventy-five years
vmissioner of the State of Oklahoma. It is stated that Mr. of existence the bank is to be
placed in liquidation with the
Cockrell has acquired stock in the Central Reserve
Bank of expiration of its charter on Jan. 30 next.
The liquidation
size of
4
THE CHRONICLE
Not. 26 1910.]
proceedings will be conducted byJGeorge W. Nott, A. A.
Lelong and S. A. Trufant. Messrs. Nott and Trufant are
also members of the committee on organization of the suc¬
ceeding institution, together with Peter Torre, Simon
Pfeifer and Charles J. Theard.
The new company is to have
capital of $400,000 and a surplus of $100,000, represented
by 4,000 shares of the par value of $100 each and $25 per
share paid in as surplus.
The stock will be allotted, share
for share, to the shareholders of the Citizens’ Bank, which
has a capital of $380,200, and the remaining 198 shares will
be disposed of, at the discretion of the organization committee,
to persons other than those at present stockholders of the
The new organization is to begin business on
bank.
a
1421
IMPORTS AND EXPORTS FOR OCTOBER.
The Bureau of Statistics at
Washington has issued the
for October, and
prepared the fol¬
statement of the country’s foreign trade
from it and previous statements we have
lowing interesting summaries:
FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
(In the following tables three ciphers (000) are In all cases omitted.)
1909
1910
Exports.
Imports.
Exports. Imports.
Excess.
Excess.
Merchandise.
lit
$
$
S
January-March... 412,678
426,788 —14,110
422,056 355,105 +66,951
April-June
365.917
392,082
372,636 +19,446
362,893
+3,024
July
114,627
117,316
—2,689
109,337
112,488
—3,151
August
134,666
138,358
—3,692
109,752
117,094
—7,342
September
168,874
117,280 + 51,614
153,963
121,015 + 32,948
October
208,058
123,869 + 84,189
200,697
127,673 +73,024
615874382970.30.665879571908878119811189032.
1,361,722 1,196,268 +165,454
1,430,985 1,296,227 +134,758
Total
Qold and Gold In Ore.
Jan. 31.
President of the Gulf Na¬
of Beaumont, Tex., to become an active Vice-
—R. A. Greer has
resigned
as
tional Bank
President of the Texas Bank & Trust Co. of that city. It is
stated that the latter institution has made application to the
Department for permission to amend its charter so as
to enable it to increase its capital from $110,000 to $250,000.
J. Blewett Smyth has succeeded Underwood Nazro, resigned,
January-March...
April-June
July
August
September
President of the company.
W. B. Dunlap has replaced R. A. Greer in the presidency
of the Gulf National Bank.
Mr. Dunlap had been First
Vice-President of the bank.
7,977
3,270
5,349
2,351
+25,821
+17,870
+13,392
+3,881
+5,195
9,668
9,820
10,283
12,819
3,192
+1,348
+28,781
—9,464
—9,669
—1,370
37,979
12,158
—3,497
7,546
9,379
7,034
25,866
16,662
9,230
+ 2,345
October
760
4,247
Total
56,068
49,929
+ 6,139
106,652
38,139
+ 68,513
13,640
13,415
5,124
4,756
4,830
11,398
10,503
3,795
4,120
3,441
+2,242
+2,912
+1,329
+636
+1, 89
4,269
3,395
10,453
12,419
3,916
3,191
3,261
+4,021
+2,467
+ 874
14,474
14,886
5,049
4,495
4,385
+1,133
+1,304
+1,124
39,652
+9,382
47,343
37,289
+10,054
State
as
10,916
38,601
829
3,150
1,822
Silver and Silver In Ore.
January-March...
April-June
July
August
September
...
October
Total
46,034
,
+ Excess of exports.
—
+5
4,049
4,054
Excess of Imports.
We subjoin the totals for merchandise, gold and silver for
legality of the election of the new management of ten months since January 1 for six years:
the All Night & Day Bank of Los Angeles, Cal., on Oct. 14
Silver.
Gold.
Merchandise.
was upheld by Judge Hervey of the State Supreme Court on
Ten
Excess
Excess
Excess
the 2d inst.
The regularity of the meeting was brought into Months.
Im¬
Ex¬
Im¬
Ex¬
Im¬
of
of
Ex¬
of
ports. Exports
ports. Exports ports.
ports. Exports ports.
ports.
question by the former management, which was replaced in
October.
Particulars concerning the change in control were
$
$
$
$
$
%
%
$
%
9,382
6,139 46,034 39,652
..0191
1,430,985 1,296,227 134,758 56,068 49,929
Angeles
given 9
in detail in our
issue of Nov.
5. The Los
..
0
9
1
1,361,722 1,196,268 165,454 106,652 38,139 68,513 47,343 37,289 10,054
—The
900,538 502,214 70,890 42,214 28,676 43,159
1,511,842 1,219,985 291.857 53,596 35,375 18,221 53,025
1,425,187 1,066,395 358,792 42,865 139,027 096,162 48,990
1,927 43,955
1,256,924 979,717 277,207 42,989 41,062
..
8
9
1
on the
‘‘Times”
states that0
an assessment
has been made
..7091
stockholders
to
..
6
091
..5091
1,402,752
strengthen the institution.
—The details of the proceedings of the fifteenth annual con¬
vention of the Washington Bankers’ Association—the most
successful in its history—are in circulation in volume form.
A copy of the report has come to us from Secretary P. C.
Kauffman (Second Vice-President of the Fidelity Trust Co.
of Tacoma), and it furnishes a complete review of the matters
covered at the meeting.
The convention took place on
July 21, 22 and 23 at Aberdeen-Hoquiam.
A number
important resolutions were adopted at the meeting, and
we took occasion to refer to several in our issue of Aug. 20.
Still another which we find in the report and not noted at the
time, is a resolution approving San Francisco as the place for
holding the International Exposition of 1915. The present
officers of the Association are: President, E. W. Purdy,
President of the First National Bank of Bellingham; VicePresident, George Donald, President of the Yakima National
Bank at North Yakima; Secretary, P. C. Kauffman; and
Treasurer, C. C. Richardson, Cashier of the National Bank of
Cheney.
payment of a final dividend of 4% to the creditors
Banking & Trust Co., which had offices in
Butte, Mont., and Washington, D. C., was reported on the
1st inst.
The institution closed its doors in 1906.
The
total amount paid to creditors, including the * present dis
bursement, is said to be 32%.
—Under date of Nov. 16 we are advised by Receiver
R. S. Howard Jr., receiver of the Title Guarantee & Trust
Co. of Portland, Ore., that of the institution’s original lia¬
bility to depositors of approximately $2,000,000, there yet
remains unpaid only about $240,000.
Mr. Howard states
that all the savings accounts, and items not exceeding $500
in amount, as originally filed, have been paid in full, and in
addition 60% has been paid in dividends on the outstanding
The institution closed its doors in November
accounts.
of the Aetna
1
12%, 3% having been declared for the present quarter,
payable Jan. 1 next, on its paid-in capital of $5,000,000.
The bank is also said to have declared a 2% dividend for
November and December on the $1,200,000 capital of the
Union Bank of Halifax, which was recently taken over by
the Royal Bank.
ports.
a
1
Silver.
o1
Ex¬
Exports ports.
Im¬
ports.
Excess
Excess
Ex¬
of
Exports ports.
Im¬
ports.
of
Exports
!
1
1
I
1
1
1
f
1
1
1
1
1
1
1
1
1
$
$
S
1
626,225
573,748
524.954
571,392
567,345
515.955
496,802
478,270
378,087
468,706
429,036
389,776
S
$
$
$
6,551 30,541 023,990 18,979
129,423
95,478 42,817 18,004 24,813 17,983
1,566 17,645
146,867 17,372 15,806
3,389 23,806
102,686 17,295 13,906
138,309 11,254 76,489 065,235 15,553
3,157 24,452 021,295 18,873
126,179
$
14,751
14,417
13,397
15,693
13,200
11,766
Excess of imports.
*
4,228
3,566
4,248
8,113
2,353
7.107
•
totals, gold and silver in ore for all years
are given under the heads respectively of gold and silver.
The following shows the merchandise balance for each yea?
back to 1875:
yjggj
In these tables of
EXCESS OF MERCHANDISE IMPORTS OR
4 months ending Oct.
1,875
1878.
1879
1880.
1887..
1893.
1907.
—The dividend rate of the Royal Bank of Canada (head
office Montreal), which was increased with the April pay¬
ment from 10% to 11% per annum, has now been raised to
Excess
Im¬
Ex¬
ports.
July 1 for six years
Gold.
Merchandise.
Four
Months.
of
—The
Excess of Imports.
a
Similar totals for the four months since
make the following exhibit:
|
34,539
8,620
38,088 14,937
36,877 12,113
26,940 17,015
1908
1909.
1910
Imports 313,973,143
Exports 43,586,158
Exports
Exports
Exports
Exports
Exports
...Imports
Exports
Exports
Exports
Exports
Imports
Exports
Exports
Imports
Exports
Imports
Exports
Exports
...Imports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
EXPORTS.
31—
Imports $35,768,355
Exports 93,649,941
Exports 71,991,489
..Exports 237,665,651
10 months ending Oct.
31—
34,095,076
81,811,116
86,406,682
74,298,997
32,201,956
4,676,046
17,131,847
26,582,317
6,155,030
3,214,668
3,200,743
19,747,537
15,517,670
9,593,805
59,749,371
2,358,953
82,636,681
28,175,297
26,370,010
132,066,428
182,286,245
164,888,467
165,735,637
227,640,360
175,642,832
116,065,178
124,038,596
138,436,021
126,179,328
138,308,905
102,685,883
146,867,251
95,478,668
129,422,519
1876.
1884
1887
1892.
1900.
1901
1903
1904.
1905
_
Exports
Exports
Exports
Imports
Exports
Exports
Exports
Imports
Imports
Exports
Exports
Imports
Exports
Exports
Exports
Exports
Imports
Exports
Exports
Exports
Exports
Exports
...Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
Exports
201,443,193
105,462,491
130,201,922
44,113,076
63,214,886
37,338,152
61,468,823
2,235,930
30,290,870
81,322,837
15,137,686
28,315,168
46,487,800
45,065,459
22,190,325
96,661,369
31,105,045
207,022,86a
219,248,144
460,169,226
370,309,391
500,255,451
464,054,350
297,919,199
308,945,696
303,824,665
277,206,917
358,792,303
291,857,072
502,213,609
165,454,546
134,767,76#
-
FALL RIVER MILL DIVIDENDS IN 1910.
Thirty-four cotton-manufacturing corporations located in
reports of operations have declared
dividends during the fourth quarter of the year.
The total
amount paid out is moderately less than for the corresponding
Fall River which furnish
period or 1909 and somewhat in excess of 1908, but appre¬
ciably smaller than in 1907. The aggregate of the amount
Montreal) will be increased with the January payment from distributed has been $441,575, or an average of 163% on
10% to 11% per annum. The dividend is payable quar¬ the capital. One mill passed its dividend, two declared at a
smaller rate than in 1909 and the remainder maintained lastterly. The bank has a paid-in capital of $4,000,000.
—The dividend rate of the Molson’s Bank
(head office
THE CHRONICLE
year’s percentage.
mills
was
In 1909 the
$485,625,
amount paid
or an average erf 1.82%.
by thirty-five
The distribu¬
tion of dividends for the fourth
quarter of earlier years was
1*48% in 1908, 3.71% m 1907, 1.77% in 1906, 1.09% in
1905, 0.50% in 1904, 1.39% in 1903, 1.49% in 1902 and
1.24% in 1901, The details for the fourth quarter were
as
follows:
[VOL.
LXXXX1.
As
showing the relation this year’s dividends in the case
of individual mills bear to those
for a series of years, we have
prepared the following, which embraces seventeen of the
leading corporations. The intention is to compare this
year’s ratio with the average fate per cent for the previous
ten
years:
Av. 10
fourth Quarter.
il910 and 1909.
Dividends 1910.
Capital.
$
800.000
American Linen Co
Ancona Mills...
Atfrirrtght Hills.
Barnard Mfg. Co
Rarnaby Mfg. Co........
Border City Mfg. Co
...
300.000
......
450,090
CHacteAtHls-.i—L
jbOn
l*
1*4
1*4
1*4
2
-
2*4
1*4
27.105.000
1.63
441,575
750,000
300,00ft
$100,000 preferred
$580,000.
5,250
11,250
>
1*4
2
1*4
1*4
1*4
Tecumseh Mills
Troy Cot. A W. Mlg. Co.
Union Cotton Mlg . Co
Wampanoag Mills
Woetamoe Mills
stock.
Amount. Dec
(ry).
1*4
2*4
1*4
2
2
1
•
1*4
1*4
1*4
1*4
3
1*4
1*4
2*4
1*4
t
1*4
1*4
1*4
1*4
3
)
1*4
1*4
1*4
-
1,82
„
W w.
-
-
-
-
-
-
A-
«. -
i--^
_
2
2
2
2
$
$
12,000
*
1,500
6,750
—-0,750
7,425
3,500
15,000
+
15,000
24,800
4.500
48,000 —40,000
18.750
7,500
8,700
+ 8,700
20,000
20,000
22,500
12,000
5,250
-11,250
18,000
8,000
11,250
20.000
18,000
20.000
24.000
12.000
—0,000
8,250
15,000
10.500
11,250
9,000
18,000
11,250
7,500
-
1*4
1*4
2
1
.200,000
780.000
500,000
SBareiwJlfg. Co—.......
1*4
$1*4
2
1.210,000
1,000,000
.
1*4
7,425
1*4
1
3,500
15,000
1*4
15,000
1*4'
2
24,000
'4,500
1*4
$.000 712
18,750
1*4
7,500
1*4
17,400
1*4
2
20,000
$0,000
2*4
22,500
12,000
1*4
18,000
8,000
11,250
20,000
18,000
20,000
24,000
6,000
8,250
15,000
10,500
11,250
9,000
18,000
11,250
7,500
4
Total......
12,000
1,500
No div, ldeud.
1*4
1*4
Shove Mills
%
_
„
_
——♦
„
_
_
_
_
„
485,625 —44,050
/2% regular and 10% extra.
dOn capital of
results with those for the first
have the following exhibit for the year. It
will be observed that on a capitalization of
$27,105,000 the
nulls have paid out in dividends
$1,829,950 in the present
year, or an average of 6.85%, against $1,976,000, or 7.40%,
in the like period of 1909.
months,
we
Dividends 1910.
Years
1910 and 1909.
Capital.
$
800,000
American Linen Co
Ancona Mills
Arkwright Mills
Barnard Mfg. Co
Barsaby Mfg. Co
Border City Mfg. Co
Bourne Mills
Chaoe Mills
Conanicut Mills...
Cornell Mills-.
Davis Mills
Davol Mills
Flint Mills.
Granite Mills
Hargraves Mills
King Philip Mills...
Laurel Lake Mills
Luther Mfg. Co.
Mechanics' Mills
Merchants’ Mfg. Co
Narragansett Mills
Osborn Mills
Parker Mills
Pocasset Mfg. Co
Richard Borden Mfg. Co.
Sagamore Mfg. Co
Seaconnet
Mills
Shove Mills
Stafford Mills
Stevens Mfg. Co
Tecumseh Mills.....
Troy Cot. & Wool Mfg.Co.
Union Cotton Mfg. Co...
Wampanoag Mills
Weetamoe Mills
Total.
•
300,000
450,000
495,000
350,000
1.000,000
1,000,000
1,200,000
300,000
400,000
1,250,000
500,000
1,160.000
1,000,000
800,000
1,500.000
600,000
350,000
750,000
1,200,000
400,000
750,000
800,000
1,200,000
1,000,000
1,200,000
600,000
550,000
1,000,000
700,000
750,000
300,000
1,200,000
750,000
500,000
27,105,000
Dividends 1909.
Amount.
%
Amount.
Years—
1010
,1909
1900
.1907
1906
4905
*1904
1903
1902
1901
1900
1899
1898
1897
1896
1895
1894
1898
1892
1891
1890
1889
1888
1887
1886
...
..
%
6
66
2*4
6
4
6
6
8
6
18
6
6
6
8
10
6
8
7
6
6
8
6
10
6
10
8
48,000
6,000
11,250
29,700
14,000
60,000
60,000
96,000
18,000
72,000
75,000
30,000
43,500
80,000
80,000
90,000
48,000
24,500
45,000
72,000
32,000
45,000
80,000
72,000
100,000
96,000
6*4
6
6
6
6
12
6
6
6
39,000
33,000
60,000
42,000
45,000
36,000
72,000
45,000
30,000
6.85
1,829,950
S
48,000
6.0)0
6
66
6
6
27.000
29.7G0
8,750
2*4
C
5
8
6
18
6
6
60,000
50.000
98.000
18 0)0
72,000
41,250
30,000
6
8
34,800
80,000
7
56,000
6
8
6
6
6
8
6
7
6
8
8
90,0)0
48.000
21,00)
45,00)
29*4
5
6
The Collector of Customs at San
Francisco has furnished us
this week with the details of the
and exports of gold
imports
and silver through that
month of
port for the
October, and
they are given below in conjunction with the figures for
pre¬
ceding months, thus completing the results for the ten
months erf the year 1910.
The imports of gold in October
were
moderate, reaching $419,433, mainly gold coin. Of
silver there came in
$97,006, largely bullion and ore. During
the ten months there was received a total of
$3,254,177 gold
and $1,619,327 silver, which
compares with $2,847,675 gold
and $2,333,297 silver in 1909.
The shipments of gold during
October were nil and the exports
of silver were $464,400,
mainly bullion. For the ten months the exports of gold
reached $1,980,208, against
$23,355,032 in 1909; and $5,393,821 silver was sent out,
against $6,468,902 in 1909. The
exhibit for October and for the ten months is
—15,750
+ 5,250
+10,000
we
21,825,000
20,625,000
21,505,000
21,505,000
21,411,000
21,061,000
20.958,500
20,058,500
19,408.000
22,793,000
22.628,000
21.828.000
21,478,000
21,278,000
19,858,000
18,558,000
18,658,000
18,558,000
17,608,000
17,204,700
10,110,200
Coin.
1910.
January
February
March
April
______
12,000
4,068
...
May
+ 3,500
$
183,913
88,160
171,738
147,884
155,833
296.627
369,798
Bullion.
%
171,115
194,318
173,280
1,245,974 2,008,203 3,254,177
788,851
250
81,064
24,666
$
183,913
76,160
167,670
147,884
155,833
296,377
288.734
285,281
239,006
167,345
Coin.
861,506
419,433
_
July
274,004
622,500
252,088
Total 10 months...
Total.
21,292
4,080
45.450
96,797
45,936
36,583
_
June
+ 33,750
+
follows:
Silver.
Bullion.
%
October
559,285
%
152,625
13,837
93,147
71,512
33,841
104,675
133,980
103,989
62,447
60,423
Total.
%
323,740
208,155
266,427
71,512
55,133
108,755
179,430
200,780
108,383
97,006
830,476 1,619,327
EXPORTS OF GOLD AND SILVER FROM SAN
FRANCISCO.
Gold.
Silver.
Months.
1910.
January
February
March
Coin.
Bullion.
Total.
S
$
$
1,970,208
1,970,208
Coin.
%
1,500
....
_
_
April
May
$
489,700
620.000
462,800
800,100
July
4,500
August
September....
10,000
10,000
October
25,656
mos
10,000
1,970,208
j 1,980,208
31,000
Total.
512.600
334,000
$
491,200
620,000
462,800
800.100
469.400
512,600
338,500
878,000
378,000
469.400
June
Total 10
Bullion.
831.821
464.400
5,362,821
831,821
489.400
5,393,821
1,976.000 —146,050
furnish a more
append the dividend record
companies
Number.
Capital.
Gold.
Months.
August
September
+ 8,700
as
IMPORTS OF GOLD AND SILVER AT SAN FRANCISCO.
3),0)0
7.40
previous
IMPORTS AND EXPORTS OF GOLD AND SILVER
AT
SAN FRANCISCO.
8
32,000
45,00)
56,000 + 24,000
72,000
8),000 + 20,000
78,000 + 18,000
39,000
33,000
60,000
42,0:0
45,000
39,000
—3,000
354.000 —282,00)
37,500
+ 7,500
6
6
6
6
13
..
ten years.
72,000
6*4
..
It will be observed that in ten
cases the
average rate of
distribution this year is above the
average for the
Dec. (—)
foregoing indicates that, of the thirty-five mills, ten
have paid out more than a
year ago.
To
back to 1886.
6
6
8
8
6
8
6
6
8
6
8
8
6
6
Inc. (+)
The
comprehensive comparison,
190819071900 1905 19041903 1902 19011900 ’00-’09
0
11
0
3
5H 7H 8
5
0*4
6.45
5*4 23*4 9*4 3*4 3*4 6
6
6*4 8
7.80
8
6*4 6
4*4 30000
6.00
8
10
8*4 4*4 6
8
8
7*4 8
7,05
6
0
6
0
6
0
10
8
0
7.00
13
11
11
5*4 5*4 7*4 «
7.80
4*4 8
1
6*4 7
4
3
4
4*4 5
0
4J0
6
2
4
2
4
6X
4
4
8
4.42
5
4
11*4 8
6
6
5*4 8
7.00
4
5*4 4
4
4.65
3*4 8*4
20
6
6*4 5*4 5*4 6
8.60
6*4 9
30
20
4*4 4
4*4 7*4 6
9
10.55
1
4
5*4 4
4
3
8
4.15
6
9*414*4 6
5*4 6
5
6
7.20
7*4
13
21
67
20
8*410 16
22
17
27
22.1$
29*4 6
35*4 18*4 6
6
4*4 6
6*4 25
14.35
5
4
4
2
2
3
4
2.36
2*4 7
0
Border City Mlg. Co. 6
Chace Mills
8
Granite Mills
8
King Philip Mills
6
Laurel Lake Mills
8
Mechanics’ Mills
6
Merchants’ Mfg. Co. 6
Narragansett Mills.. 8
Osborn Mills
6
R. Borden Mlg. Co.. 10
Sagamore Mfg. Co.. 8
Stafford Mills
6
Tecumseh Mills
6
Troy C. A W. M. Co. 12
Un. Cot. Mfg. Co... 6
Wampanoag Mills.
0
or
%
Years
19101909
^
_
_
.Combining the foregoing
Bine
a
Amer. Linen Co
....
350,000
1.000.000
1,000,000
Conanlcut Mills
3004)00
Cornell Mills
i_
400,000
Davis Mills
1,250,000
Davol Mills.
500.000
Flint Mills
1,160,000
Granite Mills
1.000,000
Hargraves Mills
800,000
King Philip Mills
1,500,000
rel Lake Mills
600,000
Mfg. Co..
350,000
les* Mills
750,000
US'Mlg. Co
1,200,000
Harragansett Mills
400,000
Osborn Mills
750,000
Parker Mills
800,000
Pocasset Mlg. Co
.' 1,200.000
Richard Borden Mlg. Co. 1,000,000
Sagamore Mlg. Co
1,200,000
Seaconnet Mills
600,000
Stafford Mills
Amount.
1*4
61*4
495.000
Bourne Mills
Inc. (+)
or
%
..
Dividends 1909.
DividendsAmount.
$1,829,950
P.C.
6.85
1,976,000
1,733,067
7.40
6.90
2,691,625
1,491,100
a&b rra
764,950
1
017 97 R
11.w
i
wti oqr
ftp;*;
9A1
1
QQR A7R
779 AO*
i
i9fi non
0.0 5*
XfUUU|V i fj
1 7AA 3YA
1
o.u2
4Q9 9AA
Oil fictfl
1,420.870
1
BUI 7nft
# UU
AQA AAA
7.02
AfiRW f
1
correspondent.]
London, Saturday, November 19 1910.
Although business on the stock markets all over Europe
remains very quiet, the really surprising feature is the
strength of markets. Here in England we have a general
election pending and a fight hanging over our heads on other
not
397
1
own
5.53'
AA7 7fifi
779 7AA
our
3.56
O* Ot)
1
{From
matters the consequences of which no one can foresee.
We
have evidence before us that the elevation of trades union
leaders to the Imperial Parliament has
6.83
1,368,400
1
ptbucturgi ©ommerctal^tigUslt^jews
1 197 AAA
|UVU
C.uU
1.047,550
6.50
shattered, their influence
over
the
weakened, if it has
Again and again
men.
efforts have been made to settle the various labor troubles
that have arisen on the railways in the great coal fields of
the Rhondda Valley and in the
shipbuilding
in
interests
The Government has intervened,
and with the assistance of official representatives of the
great
unions and representatives of the employers a
temporary
peace has been patched up, only to break down once morq.
All over the country there is grave unrest
among the laborthe north of
England.
THE CHRONICLE
Not. 26 1910. >
If this were confined to England it would be
a misfortune for this country more or less of local interest;
but a state of things at least as bad exists upon the Continent.
The French Prime Minister had quite recently to resort to
an expedient the ethics of which it would be difficult to justify
on republican principles, in order to prevent Paris being
starved out by the strike.
In Germany troops had to be
called upon to put down a most formidable labor rising in
#hat is known as the Moabit Quarter of Berlin.
On the
American Side of the Atlantic We learn by cable that labor
troubles are also inconveniencing the inhabitants of New
ing classes.
York.
spite Of these grave causes of anxiety and the absence of
public support, markets maintain a remarkably cheerful
attitude. Trade, speaking generally, notwithstanding the
poorness of last year's crops, is good all over Europe. And
although money is dear, there is a sufficient supply for all
requirements. In spite of the labor troubles referred to^
home railways are higher than they were a year ago. And
with the notable exception of Consols, there has been no seri¬
ous fall in any of the markets.
The securities of even brew¬
ery companies, which are perhaps harder hit than any class
of security dealt in on the London Stock Exchange, have
In
appreciated rather than the reverse on balance.
The Bank rate remains at
The
quotations for bullion
GOLD.
Nov. 17
Loiidon Standard.
s.
d.
Bar gold, fine, 0*-...-77 9
XL S. gold COfn, oz
76 AH
German gold coin, oz_76
French gold coin. Os..76
...76
Japanese yen.
Messrs.
4
5H
4
Nov. 10.
d.
s.
9
AH
77
76
76
4
5H
76
76
are
reported
as
SILVER.
Ijondon Standard.
Bar sliver, line, oz
•*
2 mos. delivery
Cake silver, ox.
Mexican dollars.
follows:
Nov. 17.
d.
Nov. 10.
d.
25 13-16
25H
25 13-16 26
27 11-16 27H
nom.
nom.
4
Fudey & Abell write
as
follows under date of
Nov. 10:
GOLD.—Arrivals of bar gold amounted to £776,000 this week, and after satisfy¬
ing the usual Indian and trade demands the Bank of England has been aide to se¬
cure about £500.000.
Egypt has already begun to release sovereigns, and £500,600
Is on the way to India, while further shipments are expected.
The total shipped
from here to Egypt since Aug. 27 amounted to £8,900,000, and It Is only two weeks
since the last £1.000,000 went there.
Indian exchange Is slightly firmer, but 70
lacs of Council bills and the gold from Egypt have sufficed for the present. Ameri¬
exchange is weaker, mid, although not low enough to make shipments profitable.
gold will go this week. Since our last the Bank
has received £675,000 in bar gold, while sovereigns to the value of £51,000 hard
been withdrawn for Peru, £12,000 for Brazil and £10,000 for Egypt.
Next week
we expect £595,000 from South Africa and £67,000 from India.
For the Week:
Arrivals—South Africa, £592,500: India, £107,500; Brazil. £13,000; New Zealand,
£57,000; West Africa. £6,000; total, £776,000. Shipments—Bombay. £150,500.
For month of October: Arrivals—Germany, £3,000; France, £333,000; South
Africa, £2,448.000; India, £181,000; Shipments—Germany, £449,000; France,
£92,000; South Airlca. £30.600; India. £913,000; Egypt. £6,055,000.
SILVER.—The market remains Inactive and prices show a fall on tike week of
l-16d. at 2513-16d. cash and 26d. forward, At one time cash silver fell to 25 ll-16d„
but this level attracted China and the price recovered Quickly to 26d„ although on
the cessation of this demand quotations gradually eased off. China exchanges have
shown more steadiness, partly on silk business and partly on resales of sterllngby
local speculators, and are now dose to parity. India has been very quiet. The
up-country demand Improved at one time to 80 bars a day, but stocksof £2,250,000,
with£500,000 more on the way, tend to keep prices down. Stocks in London .too;
are over £2,000,000, and In consequence of the dearness of money and the tact that
most of the buying has been forward, cash silver has been at a discount of Hd. per
oz.
Dear money and large stocks are the depressing factors at present, the latter
being made more prominent by the fact of their being concentrated largely la the
hands of one group. The China loan for £16,000,000, which has as its avowed ob¬
ject the reform of the currency, has now been definitely concluded. At the close the
market is steady, with ia good undertone. The price In India to Rs. 66H per 100
tolahs.
For the week: Arrivals—New York, £170,000; Mexico, £10,(TOO; New
Zealand, £7,000; total, £187,000. Shipments—Bombay, £102,500; Port Said,’
£1,500; total, £104,000. For month of October: Arrivals—Germany, £7,000;
France, £4,000; U. s. A., £810.000; Straits Settlements, 8236,000. Shipments—
Germany, £158,000; France, £106,000; India, £782,000.
can
It Is rumored that a small amount of
.
,
5%, and money even in the
market may be quoted at about the same figure. It is
significant that discounts even of two months’ security are
quoted at an appreciable concession from this price. And
long-dated paper has been discounted even as low as a full
point under the official minimum. The Bank return, while
far from a strong one, shows a marked improvement on the
week.
The reserve has improved by about two millions
Messrs. Pixley & Abell write as fallows under date of
sterling and closely approaches 25 millions sterling. This, Nov. 17:
Bank of England has been able to materially improve Its position
however, is about half a million less han at the same date thisGOLD.—The
week, and the receipts in all amount to £2,079,000. The South African and
twelve months ago.
The public deposits are up 3
millions other arrivals this week were £721,000, and of these the Bank secured upwards o t
£500,000, the balance being taken by India and the tra^e. Since our last the Bank
on the week and exceed those of last year by
millions. has received £1,630,000 In bars, of which £400,000 came from France, £43,000 In
gold coin, £1,000,000 In sovereigns from Brazil, the shipment of which was
From this it is hoped that Government disbursements may French
announced two weeks ago, and £6,000 from Australia.
Further arrivals In bar
gold from France cannot be expected for the time being, as even at 2 per mills
shortly increase the supplies of the outside market. This premium they are not obtainable. Withdrawals from the Bank are £30,000 for
will be of great convenience with the near approach of the South Africa, £9,000 for South America and £10,000 for Egypt. Egypt has again
sent £300,000 In sovereigns to Bombay.
The Argentine demand shows signs of
Christmas retail trade.
And no doubt the responsible au¬ beginning and It to reported that some gold will go this week. Next week we expect
£549,000 from South Africa. Arrivals—South
£70,000;
open
thorities will take this into consideration.
to be remembered
that
such modest
Of
in
ease
money market as we do enjoy is due very
ance frbm elsewhere, notably from the Bank
course
our
it has
London
largely to assist¬
of France, which
will have to be
repaid sooner or later.
The India Council offered for tender
Wednesday 70
on
lacs of its
bills, and the applications exceeded 484^ lacs,
prices ranging from Is. 4 l-32d. to Is. 4 3-32d. per rupee.
Applicants for bills at Is. 4 l-16d. and for telegraphic trans¬
fers at Is. 4 3-32d. per rupee were allotted about 14% of the
amounts applied for.
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of consols,
&c., compared with the last four years:
at
1910.
Nov. 16.
£
Circulation.
Public deposits
28,522,745
10,076.210
Other deposits
37,433,191
Qoyemm’t securities 14,603,568
Other securities
25,732,458
Reserve,notesAcoln. 24,891,269
Coln&bull .both dep. 34,964,014
Prop, reserve to lia¬
bilities
p. c.
52%
Bank rate.
p. c.
5
Consols, 2H P- c...
78 15-16
1909.
1908.
1907.
Nov. 17.
Nov. 18.
£
Nov. 20.
£
£
28,431,490
28,403,660
6,320,867
40,228,009
8,996,781
40,018,336
14,730.533
26,184,918
25,848,276
35,801,936
16,007,788
22,006,803
25,363,669
35,345.159
29,020,350
7,789,614
43,490,989
14.332,136
34,936,372
19,915,401
30.485,751
1906.
Nov. 21.
£
28,223,935
10,578,450
42,344,591
15,458,666
34.031,243
21,364,247
31,138,182
52H
38X
40 5-16
54 H
2H
7
6
5
84H
82
86 9-16
82H
Sliver
23 l-16d.
25 13-16d.
23 Hd.
32Hd.
27Nd.
Clear .-house returns 304,541,000 289,398,000 254,790,000 256,961,000 225,200,000
.
The rates for money have
been
Nov. 18.
Bank of England rate
5
Open Market rate—
Bank bills—60 days
4H
—3 months
4H
—4 months
AH
—6 months
3 11-16@3&
Trade bids—3 months
5
—4 months
Interest allowed for deposits— 4 H @5
By Joint-stock banks
3H
By discount houses—
At call
3u
7 to 14 days..
3%
as
follows:
Nov. 11.
5
4 **@4 7-16
4 H @4 3-16
3H@3H
5
4X®5
3H
3H
3H
Nov. 4.
Oct. 28.
5
AH
AH
AH@AH
4H@4H
A® AH
3H®4
5@5 H
A
3H
5
Rites of
Interest at—
Paris
Berlin
....
Hamburg
Frankfort
Amsterdam
Brussels
Vienna
_
.... ....
........
St.
Petersburg
Madrid
Copenhagen
....
....
following shows the imports of cereal produce into
Kingdom during the season to date, compared
previous seasons:
the United
with
IMPORTS.
Ten weeks—
Wheat
cwt.20,829,200
Barley
5,267,300
Oats
Peas
Beans
Indian
2,525,500
559,615
224,990
9,603,600
2,204,500
com
Hour
The
Flour, equal to
3H
Maize
1909-10.
1908-09.
1907-08.
21,184,100
2,599,700
5,764,286
5,241,271
17,411,700
2,306,300
7,634,999
19,509,400
3,063,200
8,741,423
28,797,986
29s. lid.
30s. 5d.
39,025,071
32s. 5d.
32s. lid.
27,352,999
31,314.022
30s. lid.
31s. 2d.
35s. lOd.
33s. 6d.
_____
,qrs.
Iqrs.
qrs.
The British
Kingdom:
This week.
Last week.
2,265,000
170,000
1,005.000
2,400,000
imports since Jan. 1
AH
5
5
Imports—
January
__
February
i.,.
.
April
May
.
have been
240.000
445,000
as
1908.
1,885,000
195,000
545,000
follows:
Difference.
£
£
..
175,000
1909.
1,455,000
1,010,000
1909.
1310.
March
on
following shows the quantities of wheat, flour and
3H
AH
8,423,700
2,599.700
1910-11.
maize afloat to the United
„
326,030
925,480
1907-08.
19,509,400
6,625,900
1,871,100
473,870
280,420
11,115,100
3,063,200
cwt.20,829,200
2,204,500
Total
Oct. 29.
Bank
Open
Rate. Market.
2H
3
5
AH
5
AH
5
AH
A
4
5
ah
5
4 13-16
5
nom.
1908-09.
17,411,700
7,709,500
2,707,800
342,380
391,500
7,678,300
2,308,300
21,184,100
6,558,000
4,224,200
Supplies available for consumption (exclusive of stock
September 1):
Average price of wheat, week
Average price, season
rates at the
1909-10.
1910-11.
Wheat
3H
3H
Nov. 19.
Nov. 12.
Nov. 5.
Bank
Open Bank Open
Bank
Open
Rate. Market.Rate. Market. Rate. Market.
2H
2H
2H
3 •
3
5
5
A 11-16 5
AH
AH
4 11-16 5
5
AH
AH
6
4 11-16 5
8
AH
AH
4
A
4
4
A
3H
5
5
AH
AH
AH
A 13-16
5
6
AH
AH
nom.
5
5
nom.
nom.
AH
A
AH 4
AH
AH
5
5
5
5
5
total, £57,400.
The
3H
3H
The bank rates of discount and open market
chief Continental cities have been as follows:
£2,400;
Wheat Imported
Imports of flour
Sales of homo-grown
5
AH®5
Africa, £595,000; India,
We3t Indies, £16,000; Australia, £6,000; New Zealand, £34,000; total, £721,000.
Shipments—Bombay, £120,750; Calcutta, £45,000; total, £165,750.
SILVER.—Fluctuations have been small until to-day, when selling orders from
India have depressed the market 3-16d.t and the doting quotations are 25Hd. for
spot and 25 13-16d. for forward, against 25 I3-I6d. and 26d. at the date of our last
Circular.
At the close the tone is steady.
The chief support has come from China,
where exchanges are again about on the parity of silver.
This demand to partly
against exports and partly as cover against speculative operations. The Indian
market has again been quiet, the up-country demand showing but little Improve¬
ment, and stocks are slightly heavier at 19,200 bars. A few small buying orders
have been received from Bombay, but the last two days substantial selling orders
have been received, owing to the maturing of options and to the advance of the
Bank of Bombay's rate of discount to 6%,
In China the holdings of sycee and bars
have decreased and now amount to 130 laes of sycee and 5,220 bars, the total vauel
being £650,000, less than at this time last year. It is worthy of note that In spite
of the large stocks in Bombay the total stocks in India and China are only £120,000,
more than at this time last year.
The Bombay quotation to Rs. 65 5-16 per 100
tolahs.
Arrivals—New York, £180,000; Mexico, £10,000; West Indies, £2,000;
total, £192,000. Shipments^—Bombay, £37,500; Calcutta, £17,500; Port Said,
55.921,154
61.158.357
58,120,393
.
53.500.364
50.468443
+2,420.7?0
+690,214
52,013.465
40473,r
+6,106,928
+11.7
51.711.874
+2,924,884
—932,031
+3,619.413
—I jg
July........
55.269.17$
54,636.758
49,384,462
August
52,030.617
Hm
52,641,491
+2,124.120
+5.405.936
+44
+104
545,335,935
502.404,-839
442.031.046
4-8.5
June
51,600,395
September
October .............58.Q47.427
Ten months
50.316.493
+5.6
+7.5
>
1424
THE
The exports since Jan. 1 have been
1910.
Exports—
January
follows:
1909.
£
£
34,803,115
£
Month.
33,607,311
34,799,654
38,388,177
38,638,883
36,964,261
37,691,232
+3,760,454
+8.9
+21.9
+ 13.8
+ 17.1
+8.1
+20.3
+ 12.7
+ 11.1
356,268,276
311,268,092
+45,000,184
+ 14.4
34,391.558
April
May
35,292,215
June
July
August
September
October
The re-exports of foreign and colonial produce since Jan. 1
show the following contrasts:
January
February
9.87654—The
1910.
£
January
February
1909.
£
8,147,164
April
May
June
July
August
September
October
8,443,988
11,858,654
8,294,262
8,383,643
8,221,595
8,099,313
6,808,109
6,990,059
6,464,143
7,999,591
7,601,053
8,631.006
7.251,262
7,965,605
7,374,231
+ 1,459,613
+ 1,710,926
+903,669
+3,227.648
+ 1,043,014
+418,038
+847,364
+ 1,109,254
+ 11.4
+ 15.8
+343,966
+398,538
4-5.3
+ 5.3
Ten months
86,440,879
74.978,654 + 11,462,225 + 15.3
Note.—The aggregate figures are official. They indicate that slight adjustments
have been made in the monthly returns as issued.
London
Week
ending Nov. 25. '
Silver, peroz
d
Consols, New, 2% Per Cents
Sat.
-
.
For account
French Rentes (ln Paris) _fr
Amalgamated Copper Co.
.
.
_.. -
25%
79 5-16
79 9-16
72%
-
Preferred
-
93%
Canadian Pacific.
.201%
Chesapeake & Ohio
86%
Chicago Great Western
24%
Chicago Milw. & St. Paul.. -127%
Denver & Rio Grande
34%
Preferred
76
Erie
31%
First Preferred
51
Second Preferred
39
Illinois Central
-137%
Louisville & Nashville
-151%
Missouri Kansas & Texas..
36
-
-
.
-
.
-
68%
..
-119%
66%
79%
45%
.
-
31%
50%
39
139
150%
36%
104
110%
93%
200%
86%
24
127
34
77
30%
50
38%
73
37%
117
44%
101%
44%
101%
92
1909.
$
$
Total
23%
127%
76%
30%
50
49%
75%
30%
49%
38%
38%
68%
72%
36%
116%
44%
101%
92
119%
66%
78%
45%
122%
121%
28%
67%
38%
67%
67
66
182%
95
18
50
121
27%
Gold Movement at New York.
Month
Imports.
January
February
65
182%
95%
81%
121%
18
38
67
43%
102%
90
120
92
120
67
79
4,906.446
August
September
9,335,389
431,581
689,290
October
Total
470,018
600,563
481,945
685,147
Exports
1910.
1910.
177,490 13,405.800
276,000 2,847,470
134,500
335,620
132.185 1.974.125
$
$
577,955 3,935,840
365,049 3,208,972
439,488 3,572,439
503,764 3,442.767
479,415 3,267,495
677,053 3,971,397
*,
376,817 4,272,445
1,007,193 3,931,438
693,062
424,670
482,644 2,684.265
21,618.923 8,441,137 44,999.342 78,994,817 5,502,440 33,011,728
Clearings.—The clearings for the week end¬
ing Nov. 19 at Canadian cities, in comparison with the same
week of 1909, shows an increase in the
aggregate of 4.7%.
John
Hamilton
Victoria
London
Edmonton
Regina
121%
27%
«
Brandon
Lethbridge
Saskatoon
916,600(Not Include
■
65
183%
95%
82%
121%
18
38'
67
regarding
Comptroller of the
CHARTERS ISSUED TO NATIONAL BANKS
NOV. 3 TO NOV. 16
Farmers’ National Bank of
Cherokee,' Cherokee, Oklahoma
Capital $25,000. C. I. Oversheet. President: J. D.
Butts an<
O. S. Young, Vice-Presidents; Chas. M.
Delzell, Cashier: J C
mpaf-vr
A Qolafanf
Inc. or
Dec.
1909.
1908.
1907.
$
%
$
42,383.307 44,434,985
—4.6 40,017,285
36,000,000 34,960,203
+ 3.0 31,277,704
29,291,167 27,658,559
+ 5.9 22,158,528
9,863,904
7,372,207 + 33.8
4,357,551
4,266,272
3,979,248
+ 7.2
3,983,133
2,809,348
2,750,152
3,690,442
+ 2.1
1,633,389
2,175,238 —24.9
2,248,461
3,596,842
2,639,233 + 36.3
2,072,306
1,560,353
1,524,190
+ 2.4
1,709,113
2,351,039
1,934,549 + 21.6
1,640,078
2,462,075
1,811,179 + 35.9
1,453,093
1,385,267
1.184,262 + 17.7
1,130,239
1,765,641
1,148,826 + 53.7
974,434
1,425,716
1,158.703 + 23.0
683,527 Not include d In tot al.
659,900 Not Include id in tot al.
St.
50
ending November 19.
$
Halifax
Walnut, Kan.
Total Canada
$
32,843,903
25,000,000
15,031,008
3,893,178
3,253,792
2,735,906
1,925,631
1,544,130
1,411,406
1,714,598
1,230,112
1,264,793
971,830
d in tot al.
140,794,32oj 134,431,534
+ 4.7
116,712,363
92,820,287
Auction
Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Stocks.
10 Woman’s Hotel Co.
65%
$200 Note of Wm. W. Livermorel
100 North Carolina Copper Co.,|
$5 each.
)$6 lot
1 The Alden Type Setting & 1
Dlstrib. Mach. Co., $l,000.j
40 Library Sq. Realty Co., ctf.
of deposit of Lincoln Trust
—
Stocks.
500 Standard Milk FlourCo.com.\ $51
50 Standard Milk FlourCo. pref. J lot
Bonds.
$3,000 Bar Harbor Assn, of Arts
1st 5s, 1911; int. ann. Sept
30 & int.
$3,000 Restlgouche Salmon Club of
Metapedla, Que., 5s, 1916..80 & int.
Co., Atty., $5 each
$1 55 per sh. $2,000 Restlgouche Salmon Club of
2,500 Bay State Gas Co.
9-16
Metapedla,
Que.,
5s,
1914,
6 2-3 Empire State Surety Co. 93
J. & J
80 & int.
40 Williamsburgh City Fire In¬
$25,000 Corp. of the Chamber of
surance Co
395-396
10 Ossining (N. Y.) Nat. Bank. 124%
5 Equitable Life Ass’ce Society 300
100 Broadway Trust Co
144
20 Nat. City Bank of Bklyn
285 %
Commerce
of
State
of
N.
Y.
Building Fund Subscription.... 25
$12,000 U. S. Mtge. & Tr. Co. 1st
coll, trust 4s, 1922, series M;
F.
&
A
100 & int.
1,550 Block’s Incorp., $100 each.l
$70,000 Penwood Coal Co. 1st 5s,
233 1-3 The Orrllla Holding Co.,|
1926
$500
$10 each
) $575 $3,000 Second Ave. RR. cons. 5s,
415 Scoop Folding Box pref.,|
1958; F. & A.; Guaranty Trust
$100 each
Co. ctfs__
J
55%
y
National Bank of Norfolk, Norfolk,
Virginia. Capl
tal, $500,000.
J. W. Hunter, President; Jno. L.
Roper, First Vice
President; Wm. C. Whittle, Second Vice-President;
head, Cashier; Washington Reed, Assistant Cashier. Hugh G White
First National Bank of Lake Ariel, Lake
Ariel, Pa. Capita
$50,000.
(P. O. Ariel).
Chas. Shaffer, Pres.; W. R.
Shaffei
Vlce-Pres.; M. J. Emery, Cashier.
Hamilton National Bank of Denver,
Denver,
Colo.
CaDlta
$250,000.
T. A. Cosgrlff, Pres.; A. R.
Couzens, Vlce-Pres.; E. 1
Week bach, Cashier.
First National Bank of
Heavener, Heavener, Okla. Capita
$25,000.0. J M Brewer. Pres.; J. M.
Young, 1st Vlce-Pres
S. L. Britton, 2d Vlce-Pres.;
Roy A. Cooper, Cashier.
LIQUIDATION.
6,121—The American National Bank of
Vicksburg, Vicksburg, MIssIssIdd
mas Placed ln voluntary liquidation Nov. 2 1910.
2,660—The Lebanon National Bank,
Lebanon, Ind., was placed ln volui
tary liquidation Oct. 26 1910.
6,305—The First National Bank of Crystal
Lake, Crystal Lake, Iowa, wa
placed In voluntary liquidation Sept. 23 1910.
«
TRADE OF NEW
YORK—MONTHLY
STATEMENT.—-In addition to the other tables
given ii
this department, made up from
weekly returns, we give the
following figures for the full months, also issued by our Nev
York Custom
House.
June
July
Imports.
1909.
$
714,693 3,113,576 7.843.125
819,731 2,786,542 8,818,220
421,946
Calgary
APPLICATION TO CONVERT INTO NATIONAL BANKS
APPROVED
"The American Exchange State
Bank," Sioux Falls, S. D.. Into "Th
American National Bank of Sioux
Falls," capital $100,000. Correspond
ent, A. B. Klttredge, Sioux Falls, S. D.
y
The Farmers’ State Bank of
Rogers, Rogers, Ark., Into The Farmers
National Bank of Rogers.
Capital, $25,000.
Correspondent, Perry N
Clark, Rogers, Ark.
The Farmers’ State Bank of
Walnut,
Walnut,
Kans., Into The Firs
National Bank of Walnut.
Capital, $25,000. Correspondent, Geo. Gofl
FOREIGN
$
Quebec
National Banks.—The
following information
national banks is from the office of the
Paohloi*
S
Winnipeg
©oraraercial and RSlsccnaticotts items
Virginia
$
Vancouver
& £ sterling.
Currency, Treasury Department:
1910.
Ottawa
45%
82
1909.
Canada—
Montreal
Toronto
72
43%
100%
121%
18%
38%
Exports.
1910.
1910.
37%
117
27%
65%
182%
95%
Silver—New York
1,912,799
2,425,426 2,728,363 1,644,417 21,173,385
470,490
742,911 36,168,360 6,269,450
493,413
619,503
438,769 11,094,572
532,143
578,263
127,503 5,233,050
April
May
ten
follows:
Week
150%
35%
68%
117
121
as
Clearings at—
138
71%
36%
66%
78%
$
15,795,700
17,775,728
19,064,331
18,802,924
16,846.056
17,318,187
20,728,717
19,732,558
17,906,343
19,793,908
87
76%
30%
66%
78%
45%
39%
-
87%
24%
127%
34
118%
50
110%
93%
200%
$
50,812,004 17,645,140
45,319,475 18,778,746
58,684,184 21,988,922
51,709,272 16,276,428
48,571,972 14,999,383
52,404,342 17,119,870
50.583.478 16.911,067
49.212.360 20,276.113
50,779,347 17,699,966
55,899,327 16,381,800
imports and exports of gold and silver for the
months have been
„
1909.
767,592.674 721,069,281 580,338,769 513,975,761 177,977,435 183,764,452
..
The
1910.
Canadian Bank
104
34
119%
66%
79%
45%
50%
39
.
87
24
127
34
71%
8%
106%
202%
150%
35%
82%
121%
-
110%
93%
201%
150%
35%
95%
83%
121%
18%
-
104
71%
8%
106%
104%
no%
150%
35%
68%
95%
83%
-121%
18%
-
71%
8%
106%
39
138
66%
.183%
-
Thurs.
Fri.
25 7-16 25 5-16
78 15-16 78 15-16
78%
78 15-16 79
78 15-16
97.35
97.27% 97.42%
138
117%
92
Wed.
25 9-16
138
28%
66%
183%
-
.
Price per share.
50
.122%
28%
..
128
37%
-
_
93%
201%
87%
24%
73
.
aSecond Preferred
Southern Pacific
Southern Railway
Preferred
Union Pacific.
Preferred
U. S. Steel Corporation
Preferred
Wabash
Preferred
Extended 4s
104
111
37%
-
aFirst Preferred..
106%
68
73
N. Y. Central & Hudson Riv.117%
N. Y. Ontario & Western..
44%
Norfolk & Western
-101%
Preferred
92
Northern Pacific
aPennsylvania
aReading Company.
107%
76%
_
79%'
71%
8%
.
.
79%
72%
8%
34%
.
Tues.
25 9-16
97.37% 97.37%
-
-
Preferred
Nat. RR. of Mex., 1st Pref.
Second Preferred
Mon.
25%
79 3-16
79 5-16
97.25
& Anaconda Copper Co
8%
Atchison Topeka & Santa Fe. 107 %
Preferred
.104
Baltimore & Ohio
-110%
1910.
$
March
English Financial Markets—Per Gable.
The daily closing quotations for
securities, &c., at London,
as reported by cable, have been as follows the
past week:
a
1909.
$
52,644,329
49,927,253
56,874,809
52,027,284
58,511,642
61,704,701
56.019.567
65,279,115
66,183,119
70,317.977 76,749,472 61,166,950
October..
+21.8
+20.0
+ 12.1
+37.4
+ 14.3
+ 5.2
1910.
78,656,123
77,826,788
102,955,233
78,224,201
68,497,815
72,216,609
.
___.
Per
Cent
£
6,687,551
8,473,634
7,540,319
10.184.560
March
Difference.
.
LXXXXI
Customs Receipts
at New York.
Exports.
61,789,335
73,074,545
March
80.729.503
April
75,898,544
May
69.230.504
June
73,252,301
July
69,966.872 68.687.013
August... 81.340.437 68,295,105
September 67,590,619 73.362,959
>
Re-exports—
Imports.
+20 8
+ 13.0
+ 6,000,069
+3,667,418
+2,486,885
+6,333,757
+4,081,565
+ 5,081,679
+2,900,937
+6,524,183
+4,163,237
March
[VOL.
Merchandise Movement to New York.
Per
Cent
Difference.
28,803,046
28,024,452
31,904,673
28,958,458
29,525,746
29,717,975
35,487,240
32,114,700
32,801,024
33,930,778
February
Ten months....
as
CHRONICLE
DIVIDENDS.
The
following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
Cent.
When
Books Closed.
Payable.
Days Inclusive.
Railroads (Steam).
Albany & Susquehanna, guaranteed
Atch. Topeka A S. Fe, com.(qu.)(No.22)
Atlantic Coast Line Co., common (guar.)..
Atlantic Coast Line RR., common
Boston A Albany (quar.)
Boston A LotceU
Boston Revere Beach A Lynn
Canadian Pacific, com. (quar.) (No. 58).
Common (extra)
-
Chesapeake & Ohio (quar.)
Chestnut Hill (quar.)
Cln. N. O. & Texas Pacific, common
Preferred (ouar.)
Cleveland & Pittsburgh, reg. guar, (qu.)
Special guaranteed (quar.)
Colorado & Southern, common
4%
1%
2%
3
2%
$4
3
Jan.
Dec.
Dec.
Jan.
Dec.
Jan.
Jan.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
1%
%
1%
1%
2%
1%
1% Dec.
1
2
Dec.
Dec.
3
J
10
10
31
2
2
31
31
31
5
17
1
1
1
31
Dec. 16
to
Jan.
2
Holders of rec. Nov. 4a
Nov. 30
to
Dec.
9
Dec. 17
to
Jan. 10
Holders of rec. Nov.30a
Nov. 28
to
Dec.
3
Holders of rec. Dec. 15a
Holders of rec. Nov.30a
Holders of rec.Nov.30a
Holders of rec. Dec. 9a
Nov. 20
to
Dec.
4
Holders of rec. Dec.10a
Holders of rec. Nov. 26a
Holders of rec. Nov.10a
Holders of rec. Nov.10a
Dec. 22
Jan.
to
2
Nov. 26
Name
Per
Cent.
of Company.
Railroads (Steam) Concluded.
Cripple Creek Central, pf. (qu.) (No. 20).
Delaware A Hudson Co. (iquar.)
Delaware Lackawanna A Western {extra).
East Mahanoy
Erie A Pittsburgh (quar.)
-Great Northern Iron Ore Properties
When
Books Closed.
Payable.
Days Inclusive.
Greene RR. guaranteed
N. Y. Philadelphia A Norfolk
Norfolk & Western, common (quar.)
Pennsylvania (quar.)
Phlla. Germantown A Norrist'n (quar.).
Plttsb. Bessemer A L. E., pref. guar....
Plttsb. Youngst. & Ashta.,com.&pf.(qu.)
Southern Pacific Co. (quar.) (No. 17)
Union Pacific, common (quar.)
White Pass A Yukon...
1
2X
10
2X
IH
60c.
3
6
IX
IX
3
3
1X
Ui
2X
b1
Railways.
(quar.)
Brooklyn Rapid Transit (quar.) —
Chippewa Valley Ry.,L. & P., pf.{qu.)..
Columbus (O.) Rv„ com. (quar.) (No. 30)
Federal Light A Tract., pref. (quar.)
IX
IX
m
IX
IX
Grand Rapids Ry., com. (quar.).
Kansas Citv Rv. & Lierht, pref. (quar.)..
Metropol. West Side Elev., Chic., pf. (qu.)
New Orleans Railway dc Light, pref
Norfolk Ry. & Light
— -North. Texas Elec. Co., com.(qu.)(No.5)
Pensacola Electric Co., pref. (No. 8)
IX
X
2X
2X
IX
Street and Electric
American Railways
Ry.,L.&Pow.,com.(qu.) (No. 6)
Railicays Company General
Portland
Ry. A Light, pref. (quar.)
St.Jos.Ry.,H.,L.*Pow.com.(qu.) (No. 9)
Preferred (quar.) (No. 33)
Washington {D. C.) Ry. A Elec. Co., com.
Preferred
West Penn Traction, com. (No. 1)
Miscellaneous.
Fdy., com.
Adams Express (quar.)
Am. Brake Shoe &
A pfd.{qu.)
Amalgamated Copper (quar.)
Common (extra)
Borden’s Condensed Milk, pref. {quar.)..
Butte Coalition Mining (quar.)
Butterlck Company (quar.)...
Calumet A Hecla Mining {quar.)
Central Leather, preferred {quar.)
Chicago Telephone (quar.).
Childs Company, common {quar.)
Preferred {quar.)
Consolidated Gas of N. Y. (quar.)
Crex Carpet
Cuban-Amerlcan Sugar, pref. (quar.)
Detroit Edison (quar.)
Diamond Match (quar.)
Eastman Kodak, com. (quar.)
Common (extra)
Common (extra)
Preferred (quar.)
Federal Mining & Smelting, pref. (quar.)
General Asphalt, pref. (quar.) (No. 14)..
General Chemical, common (ouar.)
General Chemical, preferred (quar.)
General Electric (quar.)
General Motors, preferred
Harblson-Walker Refractories, common.
IngersoU-Rand, preferred
Intemat. Harvester, pref. (qu.) (No. 15).
International Nickel, common (quar.)..
Common (extra)..
Internat. Smelt. A Refg. (quar.) (No. 6).
Internat. Time Recording, com. (quar.).
Preferred (quar.)
Kings Co. Elec. L. A Pow. (qu.) (No. 43)
Laclede Gas Light, com. (quar.)
Preferred
Lehigh Coal A Nav. (quar.) (No 128)
Mackay Companies, com. {quar.) {No. 22)
Preferred {quar.) {No. 28)
Massachusetts Gas Cos., preferred._
Michigan State Telephone, com. (quar.).
Preferred (quar.)
National Biscuit, com. (quar.) (No 49)
Preferred (quar.) (No. 51)
National Lead, common (quar.)
Preferred (quar.) (No.76)
National Suretv (quar.)
Stock dividend
New England Tel^nh. & Teleg. (quar.)..
N. Y. A Queens El. L. A Pow., pf. {qu.)
common
North American Co. (quar.)
Omaha Water, 1st preferred
Second preferred.
Onderdonk Estate, common
(quar.)
;
Preferred
Philadelphia Electric (quar.)
Pure Oil, common {quar.)
Quaker Oats, com. (quar.)
Common (extra)
Preferred (quar.)
Preferred (quar.)
Quincy Mining {quar.)'
Railway Steel-Spring, pref. (quar.)
_.
Republic Iron A Steel, pf. (qu.) (No. 36).
Safety Car Heating A Lighting {quar.)
Extra
Standard Oil (quar.)
Underwoii Tune writer, pref. (quar.)
Union Stock Yards of Omaha {quar.)
United Cigar Mfrs., pref. (quar.)
United Dry Goods Cos., pref. (quar.)
U. S. Cast Iron P. A F.. pf. (qu.) (No. 37)
U. S. Steel Corp., com. (quar.) (No. 28).
Preferred (quar.) (No. 38)..
Van Dyck Estate, common.
Preferred {quar.)
Ver Planck
Estate, common
Preferred
Waltham Watch,
a
preferred
3
1
5
IX
X
IX
1
2X
1
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Nov.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
Dec.
Jan.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Jan.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Jan.
Dec.
Dec.
Dec.
1 Holders of rec. Nov.19a
Holders of rec. Nov.29a
Holders of rec. Dec. 10
Holders of rec. Dec. 3a
Holders of rec. Nov.30a
1 Nov. 19
to
1
Dec.
20 Holders of rec. Dec.14a
1 Holders of rec. Nov. 15
19 Holders of rec. Nov.30a
30 Holders of rec. Nov. 5a
5 Nov. 20
to
Dec.
4
1 Holders of rec. Nov. 15
1 Holders of rec. Nov. 19a
3 Holders of war't No. 17
3 Holders of rec. Dec. la
14
20
22
16
10
•
15 Dec.
1
to
Dec.
4
2 Holders of rec. Dec. 10
1
December 1.
1 Holders of rec. Nov.15a
1 Nov. 16
to
Dec.
1
1 Holders of rec. Nov.15a
1 Nov. 21
to
1
Dec.
1 Holders of rec. Nov.16a
16 Jan.
1
to
Jan
15
1
1 Holders of rec. Nov.2la
1 Holders of rec. Nov.23a
1 Holders of rec. Nov.12a
2 Holders of rec. Nov. 21
1 Holders of rec. Nov.23a
1 Holders of rec. Nov.15a
2 Holders of rec. Dec.15a
1 Nov. 17
to
Dec.
1
1 Nov. 17
to
Dec.
1
15 Dec.1 8
to
Dec. 15
31 Holders of rec. Dec.16a
1 Nov. 15
to
Nov. 30
28 Holders of rec. Oct. 29a
1 Nov. 12
Nov. 30
1
to
1 Nov. 11
to
Dec.
1
2X
1 Nov. 11
to
1
Dec.
3
of
rec.
Nov.
30a
3
Holders
$3
1 Holders of rec. Nov. 21a
IX
31 Dec. 23
to
Jan.
1
2
1 Nov. 17
to
Dec.
1
1
1 Nov. 17
to
Dec.
1
1
1
23
to
Nov.
30
Nov.
IX
1 Nov. 23
to
Novi 30
IX
1 Holders of rec. Nov.15a
1
3 Holders of rec. Dec. la
IX
1 Holders of rec. Nov.30a
IX
1 Holders of rec. Nov. 15
2X
1 Holders of rec. Nov. 15
IX
30 Holders of rec. Nov. 23
IX
Holders of rec. Nov. 23
30
X
to
Dec. 15
IX Dec. 15 Dec. 6
1 Nov. 15
to
Dec.
1
Dec.
25c.
1 Holders of rec. Nov.15a
X Dec.
22 Holders of rec. Nov.25a
Dec.
$7
3 Holders of rec. Dec. 10
IX Jan.
31 Dec. 29
to
Jan.
2
Dec.
2
Dec. 10
4
to
10 Dec.
2X Dec.
to
Dec. 10
10 Dec.
4
IX Dec.
IX Dec. 15 Holders of rec. Nov 16a
15 Holders of rec. Nov.30a
3
Dec.
3 Holders of rec. Dec. 15a
IX Jan.
16 Holders of rec. Jan. 3a
Jan.
IX
15
Holders of rec. Nov.22a
Dec.
IX
2 Holdersof rec. Nov. 30a
2X Jan.
1 Holders of rec. Oct.31a
10
Dec.
2 Holdersof rec. Nov. 30a
2X Jan.
2 Holders of rec. Nov. 30a
IX Jan.
IX Dec. 15 Holders of rec. Nov.25a
1 Holders of rec. Nov. 16a
Dec.
IX
1 Holders of rec. Nov. 19a
IX Dec.
3 Holders of rec. Dec.20a
IX Jan.
14 Holders of rec. Dec. 3a
2
Jan.
Nov. 29
3X Nov. 30 Nov. 22 to
1 Holders of rec. Nov. 19a
X Dec.
Dec. 10a
1
Holders
of
rec.
Jan.
3
1 Holders of rec. Nov.10a
IX Dec.
to
Dec.
1
1 Nov. 12
1
Dec.
1 Nov. 12
to
Dec.
1
X Dec.
Dec.
to
1
1 Nov. 22
2
Dec.
1 Nov. 21
to
Nov. 30
3
Dec.
21
30
1
Nov.
to
Nov.
IX Dec.
1 Holders of rec. Nov.18a
Dec.
2
2
to
Dec. 15
15 Dec.
‘IX Dec.
2
to
Dec. 15
15 Dec.
2X Dec.
2
Nov. 30 Holders of rec. Oct. 31
3 Holders of rec. Dec. 10a
IX Jan.
Jan.
3 Holders of rec. Dec. 10a
1
to
Nov. 30
1 Nov. 13
2
Dec.
1 Nov. 16
to
Dec.
1
IX Dec.
to
Feb.
1
1 Jan. 15
IX Feb.
14 Holders of rec. Dec.28a
IX Jan.
IX Nov. 30 Holders of rec. Nov.16a
to
Dec. 13
X Dec. 31 Dec. 10
to
Nov. 22
15 Nov. 19
IX Dec.
3
3 Doc. 24
to
Jan.
Jan.
2
Holders of rec. Nov. 30
/33 1-3
IX Dec. 31 Holders of rec. Dec. 15
1 Holders of rec. Nov.25a
IX Dec.
1
to
Dec. 20
IX Dec. 20 Dec.
Holders of rec. Dec. 15a
2
IX Jan.
1 Holders of rec. Nov. 15
5
Dec.
1 Holders of rec. Nov. 15
3
Dec.
Jan.
1
5
1
3X Jan.
15 Holders of rec. Nov.llfca
IX Dec.
'Nov. 30
1 Nov. 20
to
IX Dec.
16 Holders of rec. Jan. 3a
Jan.
2
16 Holders of rec. Jan. 3a
X Jan.
IX Nov. 30 Holders of rec. Nov. la
IX Feb. 28 Holders of rec. Feb. la
to
Dec.
4
19 Nov. 27
Dec.
$1
to
Dec. 20
IX Dec. 20 Dec. 8
Dec.17a
2
Holders
of
rec.
Jan.
IX
23 Holders of rec. Dec. 10a
2
Dec.
Dec.
23 Holders of rec. Dec. 10a
3
15 Holders of rec. Nov.18a
Dec.
$10
1 Holders of rec. Dec.20a
IX Jan.
1 Nov 21
to
Dec.
IX
1
Holders of rec, Nov.25a
Dec.
IX
1 Holders of rec. Nov.23a
IX Dec.
1 Holders of rec. Nov.2la
IX Dec.
to
Dec. 14
IX Gee. 30 Dec. 2
to
Nov. 14
IX Nov. 29 Nov. 1
1
3
Jan.
1
IX Jan.
1
7X Jan.
1
3X Jan.
1 Holders of rec. Nov.15a
3
Dec.
elX
$3
X
Dec.
Dec.
Nov.
Dec.
Dec.
Dec.
Jan.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Jan.
Dec.
Dec.
Dec.
Nov.
Nov.
._
Transfer books not closed. 6 Less Income tax. dCorrection. e Declared 7% on both
and preferred stocks, payable in quarterly Installments. / Payable In stock.
common
for the week ending Nov. 19.
banks are the averages of the
of the totals, the actual figures
York Clearing-House banks
The figures for the separate
daily results.
In the case
at the end of the
week
are
also given.
For definitions and rules under which the
are made up, see “Chronicle,” V. 85, p. 836.
We omit two ciphers
City
Chemical
Merchants' Ex.
Gallatin
Butch. A Drov.
Greenwich
Amer. Exch...
Commerce
Mercantile
Pacific
Chatham
....
People’s
Hanover
Citizens’ Cent..
Nassau
Market* Fult’n
..
Corn Exchange.
Park
East River
Fourth
Second
First
Irving Exch
Bowery
N. Y. County..
German- Amer..
Chase
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
Fifth
Metropolis
West Side
Seaboard
Liberty
N. Y. Prod. Ex.
State
14th Street....
Coal & Iron....
Union Exch
%
3,624,1
4,184,5
1,832,1
8,049,5
5,874,2
759,6
31,588,3
6,577,7
602,6
2,517,2
162,0
%
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
500,0
5,000,0
25,000,0
3,000,0
500,0
450,0
200,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
250,0
5,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
200,0
1,000,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
832,9
4,252,9
16,601,4
2,723,8
913,0
1,012,4
470.3
12,069,9
1,713,2
538,2
1,749,1
1,478,9
5,254,1
7,675,1
12,550,1
111,9
5,635,0
2,116,1
20,913,1
1,741,1
815,9
1,726,6
689,5
8,108,3
2,109,4
895,2
1,016,6
1,563,1
1,208,7
510,4
2,078,2
1,019,2
1,977,2
2,719,9
757,1
782,2
320,4
408,9
970,7
various items
(00) in all cases.
Loans.
Average.
Bank of N. Y..
Manhattan Co.
Merchants'
Mech.& Metals.
America
Phenlx
Metropolitan
Surplus.
Capital.
Banks.
00s omitted.
Imp. A Traders’
American Caramel, common (quar.)
American Cotton OH, common
Preferred
American Express (quar.)
American Gas (quar.)
.
American Radiator, common (quar.)
Amer. Shipbuilding, common {quar.)
Common {extra)
_\
Amer. Smelters Securities, pref. A (No. 23)
Preferred B (quar.) (No. 22)
*
American Stogie, pref. (quar.)
Am. Sugar Refg., com.&pref. (quar.)
American Teleg. A Cable, guar. (quar.).
American Tobacco, common (quar.)
Common, extra
Associated Merchants, com. (quar.)
Nlles-Bement-Pond,
i
Dec.
Dec.
Dec.
York City Clearing-House Banks.—The
Statement of New
detailed statement below shows the condition of the New
■
Rochester
1425
THE CHRONICLE
1910.]
Specie.
Legals.
Average. Average.
f
3,234,0
6,825,0
3,568,0
10.684,0
3,953,6
1,707,0
37,533,5
5,029,1
1,653,7
1,143,1
412,8
1,833,3
6,109,7
22,696.5
1,679,4
470,0
961,9
386,7
10,525,3
5,045,3
856,6
1,355,1
3.164,6
6,925,0
4,284,0
19,706,0
249,9
4,249,0
2,984,0
23,859,0
4,527,2
823,0
1,227,8
821,2
14,742,3
2,325,1
552,0
793,7
2,981,1
1,724,2
554,5
1,428,8
866,0
4,195,0
3,275,8
2,142,9
4,377,0
1,065,8
628,0
1,184,3
%
18,707,0
30,100,0
19,091,0
49,083,4
22,483,1
8,103,0
168,438,5
28,006,2
7,012,4
8,264,5
2,775,0
7,266,8
31,869,3
135,722,6
14,233,9
3,435,2
8,175,0
1,995,0
59,162,9
21,622,2
7,183,9
8,502,0
12,741,7
39,495,0
24,973,0
78,577,0
1,388,8
26,852,0
12,662,0
93,226,1
22,269,5
3,452.0
7,739,0
4,001,1
70,208,6
12,543,6
3,875,6
4,903,7
14,243,6
8,242,0
3,338,1
11,390,4
4,231,0
20,221,0
16,317,2
8,083,8
15,223,0
5,937,8
5,608,0
8,531,1
Deposits.
Average.
Re¬
s’ve.
%
%
15,904,0 25.7
33,500,0 25.1
19,064,0 25.3
46,123,5 26.0
21,848,7 26.4
7,359,0 26.8
156,467.5 27.5
25,865,0 26.9
7,176,9 24.9
6,355,8 26.1
2,214,8 22.3
8,117,0 25.0
30,571,8 27.9
6,637,1 110,364,0 26.7
10,371,4 25.8
997,5
3,049,9 31.4
488,5
8,485,2 25.0
1,164,4
1,960,1 27.2
148,4
7,117,7
65,522,7 26.9
20,705,8 25.6
229,0
8,048,3 25.0
1,160,2
661,0
8,101,6 24.8
13,371,9 25.4
237,9
45,633,0 25.2
4,601,0
22.427,0 26.8
1,739,0
81,279,0 26.1
1,517,0
148,6
1,486,7 26.7
25,135,0 25.3
2,116,0
12,215,0 25.6
148,0
83,930,5 30.5
1,809,5
23,182,0 25.8
1,460,6
59,0
3,592,0 24.5
612,2
7,604,3 24.6
3,893,8 26.7
222,3
75,295,8 26.5
5.239,3
14,052,2 25.5
1,264,1
501,8
4,125,8 25.5
507,5
5,509,3 23.6
760,0
14,954,7 25.0
8,230,8 25.6
383,0
3,552,6 26.4
384,9
11,276,6 25.2
1,423,5
233,0
4,613,0 23.8
1,597,0
23,052,0 25.1
860,8
16,204,7 25.5
9,545,3 24.6
210,8
18,586,0 25.2
313,0
612,3
6,571,8 25.5
5,550,0 25.7
799,0
8,267,3 25.0
886,6
%
855,0
1,613,0
1,262,0
1,320,0
1,826,2
225,0
5,460,0
1,893,8
133,6
518,5
83,1
202,5
2,387,1
26.5
Totals, Average 133,350,0 195,801,9 1201.508.6 243,320,8 67,031,3 1170,315,1
1204.971.6 245,433,6 68.551,4^177,133,3 26.7
Nov. 19.
Actual figures
On the basis of averages,
circulation amounted to $48,643,600 and United States
deposits (Included in deposits) to $1,645,100; actual
$48,730,500; United States deposits, $1,655,900.
figures Nov. 19, circulation,
The State Banking Department also now furnishes weekly
the State banks and trust companies under its
returns of
These returns cover all the institutions of this class
State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
charge.
in the whole
following:
For definitions and rules under which the various
made up, see “Chronicle,11 V. 86, p. 316.
STATE BANKS AND TRUST
items are
COMPANIES.
Trust Cos.
State Banks
Trust Cos.
State Banks
outside of
outside of
in
in
Greater
N. Y.
Greater N. Y. Greater N. Y. Greater N. Y.
Week ended Nov. 19.
$
%
$
%
9,075,000
Capital as of Aug. 31
25,175,000
65,656,000
8,998,000
Surplus as of Aug. 31
38,315,700
172,728,334
10,891,650
9,817,991
95,636,800
+ 531,600
142,641,100
+ 437,200
Loans and Investments..
Change from last week.
289,628,100 1,017.086,200
—3,689,600 —17,810,300
Change from last week.
46,457,400
—258,700
113,181,500
—1,200,500
Legal-tenders A bk. notes
Change from last week.
24,169,000
+36,200
12,839,600
—218,000
Deposits
Change from last week.
330,850,500 1.042,520,800
—5.732,700 —16,852,400
102,009,600
+ 1,410,000
148,095,200
—569.400
Reserve
90,646,800
—1,089,800
131,688,800
—1,787,400
21,132,400
+968,300
20,771,400
—910,600
on deposits
Change from last week.
P. C.
reserve to deposits
Percentage last week..
.
28.1%
27.9%
14.6%
15.3%
21.5%
20.7%
15.6%
15.5%
+ Increase over last week. — Decrease from last week.
Note.—“Surplus** includes all undivided profits. “Reserve on deposits'* in¬
cludes, for both trust companies and State banks, not only cash Items, but amounts
due from reserve agents.
Trust companies In New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
The percentage of reserve required is computed on
of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of depostls secured by bonds of the State
to
iocatlon
as
shown below.
the aggregate
The State banks are likewise required to keep a reserve varying
according to location, the reserve being computed on the whole amount of
exclusive of time deposits not payable within 30 days, represented by certificates
(according to the amendment of 1910), and exclusive of deposits secured by
_
of the State of New York.
.
—State Banks—
-Trust Cos.—Total
Of
Reserve Required for Trust Companies
of New York.
deposits
bonds
.
_
and State Banks.
Location—
Manhattan Borough
Total
Reserve
Required
15 %
Brooklyn Borough(wlthout branches In Manhat.).16%
Other Boroughs (without branches In Manhattan). 15%
Brooklyn Borough, with branches in Manhattan..15%
Other Boroughs with branches In Manhattan..__ 15%
—
Elsewhere In state
10%
t
_
_.
..
which Reserve
in Cash.Required,
15%
10%
10%
15%
15%
5%
25%
20%
16%
20%
15%
16%
UW
THE CHRONICLE
(VOL
The
Banking Department also undertakes to present
indicating the totals for the State hanks and
trust
.companies
in the Greater New York not in the Clearing
House.
We omit two ciphers (00) in all these figures.
separate figures
two statements, thus
aggregate for the whole of the banks and trust
the Greater New York.
Boston.
affording an
companies in
Nov. 19—
Phil*.
Oct. 29—
Nov. 5..
Nov. 12..
Nov. 19—
%
Capital INat’l banks
Nov. 10..
Surplus
Clear .-House State Banks A
Total of aU
1 Trust Cos. not Banks A Trust
Banks.
Average.
J in C.-H. Aver. Cos. Average.
Banks.
133,350,000
State banks
Aug. 31..
195,801,900
Loans and Investments
Change from last week
Deposits
Change from last
week
195,801,900
1,201,508,600
—11,802,100
j
74,631,000
207,981,000
180,661,300
376,463,200
Change from last week
243,320,800
+ 8,671,500
120,059,700
—1,196,100
363.380.500
+ 7,475,400
Legal-tenders
Change from last week
68,551,400
+ 1,361,300
67,031,300
621,307,700
88.339.000
+ 941,500
—494,700
Aggrte money holdings
Change from last week
Money on deposit with
313,985,000
+ 9,033,600
310,352,100
+ 9,613,000
Cl41,367,400
—1,690,800
313,985,000 1
requiring
Surplus
26.71%
26.10%
reserve..._
Percentage last
week.
310,352,100
j +9,613,000
+ 9,033,600
.
reserve
|
23,127,900
—1,018,200
164,495,300
—2,709,000
474,847,400
+ 6,904,000
17,773,325
Specie.
Legals.
$
$
397,232,0
392.538.2
382.271.2
374.198.8
371.151.9
367.935.1
364.544.7
357.466.7
355.905.1
363,380,5
$3,021,166
$
88,597,9
88.911.4
89.226.2
87,948,8
88.364.2
88,481,0
89.325.5
88,230,4
87.892.2
88,339,0
$
485,829,9
481.449.6
471.497.4
462.147.6
459.516.1
456.416.1
453.870.2
445,697,1
443.797.3
451.719.5
513.289,9
508.147.8
497.810.3
489.103.9
484.935.4
480,663,0
477.425.5
470.422.9
467.943.4
474.847.4
Reports of Clearing Non-Member Banks.—The
following
is the statement of condition of the
clearing non-member
banks for the week
ending November 19, based on average
daily results:
Total
Since January 1.
Dry Goods
General Merchandise.
1908.
it
Legal
Tender
Disc’ls
Banks.
Capi¬
Sur¬
and
tal.
plus.
Invest¬
Specie.
ments.
$3,004,362
9,407,418
$3,316,954
9,123,668
$15,693,571
$19,079,166
S12.411.780
$12,440,622
$139,366,325 $149,016,328 8110,495,418 $165,018,966
667,443,103 624,671,366 450,933,763 594,919,694
Total 46 weeks
$806,809,488 $773,687,694 ’$561,429.184 $759,938,660
l
The
following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Nov. 19 and from Jan. 1 to
date:
EXPORTS FROM NEW YORK FOR THE
WEEK.
Total 46 weeks
The
1910.
1909.
1908.
$17,947,170
593,803,366
S12.584.232
538,824,879
$13,675,649
554.350,845
1907.
$15,986,689
554,834,222
8611,750,536 $551,409,111 $568,026,494 $570,810,911
following table shows
the exports and imports of
for the week ending Nov. 19
and for the corresponding periods in
specie, at the port of New York
and
since Jan. 1
1909 and 1908:
EXPORTS
1910,
AND
IMPORTS
OF
SPECIE
AT
NEW
Exports.
Oold.
YORK.
Imports.
SinceJan. 1.
Week.
SinceJan.I.
$32,150,000
$15,355
1
West Indies
Mexico
South America
All other countries
4,455
3,397.417
$13,469,736
3,536,000
314
'
6,300
684
9,493,760
41,900
Total 1910
Total 1909
Total 1908
2,220.700
603,250
$45,087,538
82,529,517
48,301,300
28,549
76,032
$126,921 $21,290,192
78,974
7,825,005
280,045
and
Clear¬
ing
Agent.
Other
Century
...
Colonial
Columbia..
...
Fidelity
Jefferson...
..
Mt. Morris.
Mutual....
Plaza
23d Ward..
YorkvlUe..
New Neth..
Bat.Pk.Nat.
Aetna Nat.
Borough of
$
100,0
250,0
400,0
300,0
200,0
500,0
250,0
200,0
100,0
200,0
100,0
200,0
200,0
300,0
$
270,6
160,2
362,5
751,7
175,5
521,3
313,8
371,3
453,8
106,5
451,8
265,5
164,0
315,7
$
1.232.0
$
1,346,0
5,574,0
6,263,0
1,065,4
3,130,7
2,485,8
3,519,6
4,261,0
1,851,9
3,980,6
2,307,0
1,523,5
2,087,4
*
140,0
31,5
884,7
631,0
88,7
223,4
451,0
28,8
339,0
159,9
53,9
266,0
174,7
479,3
9
46.0
188,4
507,6
592,0
83,2
281,8
29,9
593,3
412,0
46,7
708,4
88,0
67,1
29,9
$
117,0
62,6
649,8
Net
Banks, Deposits.
Ac.
629,0
98,4
148,5
306,6
391,1
686,0
206,8
193,9
196,0
60,0
83,1
$
15,718,468
Great Britain
France
$1,192,554 $35,300,604
56,500
2,170,700
..
'
Germany
West Indies
Mexico
South America
All other countries
$1,948
100
47,825
6,505
6,545
1,619
78,775
1,566,154
1,153,942
$1,2.50,317 $38,193,779
682,190 39,525,085
859.727 38,064,126
$88,985
215,706
105,40c
$4,237,766
4,605,757
3,652.236
1,263
—
»
.
..
Total 1910
Total 1909
Total 1908
$13,344
5,624
13,310
76,964
595,419
72,726
.
1,408.428
Of the above imports for the week in
1910, $6,300 were
American gold coin and $100 American silver coin.
Of
Deposit with
Bank
Notes.
525,015
247,482
2,031,990
1,479,655
Silver.
the exports during the same
time, $
gold coin and
were American silver
N. Y. City
Boroughs of
Man. A Brx.
Wash. H’ts
167389,8
1907.
We omit two ciphers (00) in all these
figures.
Loans,
141.157.4
165.102,7
134.455.8
$3,046,436
16,032,730
..
***
9
165.654,9
201.362,4
157.615,1
187.550.6
12,672.405
Germany
Tot.
Sept. 17.. 2.367.842.8 2.328.750.6
Sept. 24.. 2.375.411.8 2,329,379,2
Oct.
1.. 2,388,453,3 2,330,077,9
Oct.
8.. 2,387 ^81,5 2.316.630.7
Oct. 15- 2.382.131.5 2.306.865.9
Oct. 22„ 2.365.975.6 2.287.487.9
Oct. 29- 2.358.583.6 2.273.641,0
Nov. 5— 2,361,563,2 2.271.515.7
Nov. 12.. 2.340.467.7 2.248.637.7
Nov. 19.. 2.309,880,1 2.227.664.7
1909.
Great Britain..
France
tm
Money Entire Res.
Holdings. on Deposit.
Loans and
.
301.304.0 16,045,0
302.816.0 16,055,0
306,020,0 16,078,0
Week.
We omit two ciphers in all these figures.
$
7.966JO
7,981,0
301.249.0 15,957,0
1910.
Dry Goods
General Merchandise
Previously reported
GREATER NEW YORK.
$
69,550,0
68,857.0
67.494,0
69,943,0
For week.
For the week
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
Investments, I Deposits.
253.155.0
253,646,0
253,989,0
252,431,0
17.3%
17.2%
The averages of the New York
Clearing-House banks
combined with those for the State banks and trust
companies
in Greater New York outside of the
Clearing-House
compare
as follows for a series of weeks
past:
Week
55,465.0
55.465.0
65.465,0
55.465.0
$
7.988,0
7.972,0
'
+ Increase over last week.
— Decrease from last week.
a These are the
deposits after eliminating the Item “Due from reserve depositories
and other banks and trust companies In New York
City”; with this Item included,
deposits amounted to $1,155,486,700, a decrease of 519,566,800
froiq last week.
In the case of the Clearing-House
banks, the deposits are “net” both for the average
and the actual figures.
6 Includes bank notes, c Of this amount State banks held
$15,346,300 and trust companies $126,021,100.
Ended.
9
206,874,0 24.485.0 5.256.0 245.891,0
205,663,0 24,681.0 5.194,0 251.589,0
206,023,0 23,701,0 4.478.0 246,346,0
200,954,0 24,021,0 3.904,0 245.558,0
FOREIGN IMPORTS AT NEW YORK.
451.719.500
+ 7,922,200
23,127,900
—1,018,200
26.55%
25.67%
19,701,675
$
40.200.0
40.200.0
40,200.0
40,200.0
Clearings.
Imports and Exports for the Week.—The following are
imports at New York for the week ending Nov. 19; also
totals since the
beginning of the first week in January.
446,800
+
f!
Total reserve
■’*'
Circu¬
lation.
a
the
1
Change from last week
Percentage to deposits
t
Deposits,
Including Government deposits and the Item “due to other banks.*’ At Boston
Government deposits amounted to $3,057,000
on November 19, against $3,037,000
November 12.
1,108,371,500 2,309,880,100
—18.785,500 —30,587,600
245,433,600
+ 7.672,300
other bks. & trust cos.
Change from last week
$
Legale.
on
1,177,133,300 1.170,315,100 al,057,349,600 2,227,664,700
+ 7,567,600
—2,716,000 —18,257,000 —20,973,000
Specie
Specie.
a
S
133,350,000
Loans.
S
Oct. 29—
Nov. 5..
Nov. 12..
^
Clear.-House
and
Surplus.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Week ended Nov. 19.
Capital
Banks.
These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks.
In addition, we have combined each corre¬
sponding item in the
LXXXXI
1,438^0
7,205^0
7,06+6
536,6
108,2
3,636,7
3,166 5
American
fPatttUuQ atitl fftnanctaL
$
16,0
192,3
262,3
73,0
were
coin.
1,185,0
+076 1
Railroad and Industrial Stocks
r* Ul m send you our circular describing 110 ISSUES of
listed R*ll
Lroad tad Industrial Stocks.
4^04 5'6
5,231 0
1,966 3
5,024,1
260,5
24,0
2'442,0
28,6
1,253,0
2,070,2
43
Spencer Trask & Co.
EXCHANQE PLACE.
Chicago. HI.,
Boston, Mass..
Members New
NEW
YORK.
Albany, N. Y.
York Stock
Exchange
Brooklyn.
Broadway
200,0
252,0
Mechanics’. 1,000,0
Nassau Nat.
750,0
Nat. City..
300,0
North Side.
200,0
First Nat..
300,0
Jersey City.
First Nat..
400,0
Hud.Co.Nat
250,0
Third Nat..
200,0
Hoboken.
First Nat..
220,0
Second Nat.
125,0
.
Mira.* Nat.
513,3 3,422,1
838,4 5,447,5
815,4 11,381,0
1,018,1 6,698,0
614,9 3,797,0
139,0 2,222,7
623,9 3,414,0
33,7
381,3
530,9
175,4
312,3 1,255,2
566,0
271,0
1,264,0
763,1
400,9
5.264,5
3,108,8
2,122,4
289,5
136,8
45,5
626,0
267,4
3,132,7
2,792,9
148,9
99,0
131,9
346,0
234,8
694,4
1,238,6
1,025,0
478,0
110,8
281,0
118,0 3,592,3
145,4 5,770’0
240,0 14,321,1
6,673,0
160,0 4,764’O
110,6 2,513,5
38,0 3,ooo;o
317,8
52.8
1,804,1
109,2
356,0
144,0
115,5
15,2
29,6
187,8
67,2
626,0
119,8
80,0
348,0
6,149,7
2,652/4
2,098,2
79,3 2,834,2
110,9
88,2
148,0 2,944,0
Tot. Nov. 19 7,497,0 12,568,6
93,431,5 6,703,3 7.170.5 10,654,5
2.815,5 104112,3
Tot. Nov. 12 7,497,0 12,469,2
94,666,7 6,616,0 7,546,1 12,788,6
Tot. Nov. 5 7.497,0
12,469,2 94,717,0 6,422,4 7.282,6 11,649,6 3,244,5 107891,7
2,9344
106242|8
Boston and Philadelphia
Ranks.—Below is a summary of
the weekly totals of the
Clearing-House
banks of Boston
and Philadelphia.
WHITE,
WELD &
CO.
Members New York Stock Exchange.
$ NASSAU STREET.
THE ROOKERY,
NEW YORK
CHICAGO
BANKING and EXCHANGE of every description In connection with
EXPORTS & IMPORTS
International Banking Corporation
Wall St.. New York.
CAPITAL &
60
BRANCHES
and
AGENCIES
SURPLUS. $6,600,000
throughout the WORLD.
THE INTERNATIONAL BANK
Organized under the laws of N. Y. State.
Accounts Invited.
Interest paid
60 Wall St.. New York
on Term
Deposits.
THOMAS H. HUBBARD. President.
Nov. 26
THE CHRONICLE
1910.1
fifomtiers’ (Sairtte,
Friday Night, Nov. 26 1910.
and Financial Situation.—-Business
has been limited in volume and al¬
most wholly of a routine or professional character through¬
out the week.
The political disturbance in Mexico has
attracted general attention and matters which have come
Wall Street,
The Money Market
at the Stock Exchange
1427
day, but included about the usual number of issues, and prices
have generally been well maintained.
As against a few
fractional declines of 34 a point or less there are about an
equal number of advances for similar amounts. Practi¬
cally the only exception to the above is General Electric
conv. deb. 5s, which steadily advanced from 147 to 152 on a
demand which brought out a very meagre supply.
Seaboard Air Line adjustment 5s and Distilling Securities
Corporation 5s have been unusually active, the former show¬
ing a tendency to weakness under relatively liberal offerings.
the Inter-State Commerce Commission's
United States Bonds.—‘Sales of Government bonds at
investigation of the railway rate question have been more or
less discussed in railway and financial circles.
The security the Board are limited to $1,000 3s coup, at 102.
The fol¬
markets seem to have been unaffected thereby, however,
lowing are the daily closing quotations; for yearly range
and have been unusually stagnant and devoid of interest, see third page following.
even for a national holiday period.
Nov.
Saturday's bank statement showed a substantial addition
Interest
Nov.
Nov.
Nov.
Nov.
Nov.
19
21
22
23
24
Periods
25
to the surplus reserve and the movement of funds this week
has been steadily towards this centre.
As a consequence 2s, 1930
*100 H
...regtetered Q—Jan *100?* *100?* *100?* *100?*
the local money-market shows increasing tendency to ease, 2s, 1930
coupon Q—Jan *100?* *100?* *100?* *100?*
*100?*
1908-18
*101K
registered Q—Feb *101?* •101?* *101?* *101?*
although there is not much change in call-loan rates. The 3s,
HOLI¬ *101?*
3s, 1908-18
coupon Q—Feb *101?* *101?* *101?* 102
*115
DAY.
Bank of England reports a somewhat reduced percentage 4s, 1925
♦115
*115
,*115
H
registered Q—Feb
*115?*
*115?*
coupon Q—Feb *115?* *115?* *115?* *115?*
of reserve, but otherwise the weekly bank statement is a 4s, 1925
*100?*
2s, 1936.Panama Canal regis Q—Ffeb ♦100?* *100?* *100M *iook
out in connection with
favorable one and the financial situation abroad remains
about as heretofore reported.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2 to 2%%.
To-day’s rates on call were 2@2%%.
2s, 1938.Panama Canal regis Q—Nov *100?* *100?* *100?* *100?*
*
Railroad and Miscellaneous Stocks.—The stock market
averaged scarcely 300,000 shares and are therefore smaller
than at any time since the dull period early in September;
and the net changes, mostly fractional, are about evenly
divided as to higher and lower.
Of such a market there is,
of course, very little to be said.
A large part of the business
recorded has been, as usual, in the more speculative issues
and some of these have covered a range of two points.
and 5%@6% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £627,010 and the percentage
of reserve to liabilities was 51.48, against 52.36 last week.
The rate of discount remains unchanged at 5%, as fixed
The Bank of France shows an increase of 1,925,000
Oct. 20.
francs gold and 1,850,000 francs silver.
.
YORK CITY CLEARING-HOUSE BANKS.
-
1910.
Averages for
week ending
Nov. 19.
Differences
from
previous week.
S
%
133,350,000
195,801,900
Capital
Surplus
Loans and discounts
1,201,508,609 Dec.
Circulation
48,463,600 Inc.
Net deposits
1.170,315,100 Dec.
U. 8. dep. duel, above)
1,645,100 Inc.
243,320,800 Inc.
Specie
Legal tenders
67,031,300 Inc.
11,802,100
463,300
2,716,000
42,600
8,671,500
941,500
the morning board; no sale was made.
has been unusually dull this week and prices have generally
fluctuated over a very narrow range.
The daily transactions
Commercial paper quoted at 5@5%% for 60 to 90-day en¬
dorsements, 5@5%% for prime 4 to 6 months’ single names
NEW
This is the price bid at
*100?*
The sale of
a
few shares of Delaware Lackawanna & Western
at 55
1909.
Averages for
week ending
1908.
Averages for
week ending
Nov. 29.
Nov. 21.
S
8
points below the last previous selling price elicited some
comment, but as that sale was nearly six weeks ago, and as
there has been in the meantime a difference almost contin¬
uously of from 75 to over 100 points in the bid and asked
price for this stock, the incident seems unimportant.
The other exceptional features have been mostly industrials.
Sears, Roebuck & Co. recovered more than half of the 10point decline noted last week, American Can preferred ad¬
vanced 5 points to the highest quotations of the year,,
General Electric advanced 534 points and U. S. Steel pre-(
ferred has been strong.
Consolidated Gas, on the other
hand shows a net loss of 134 points and nearly all the copper
127,350,000
126,350,000
177,371,800
163,720,100
1,204,634,200 1,332,773,100
53,022,200
47,901,300
1,187,694,100 1.414,028,300
1,664,700
9,174,000
238,092,700 303,390,500
79,716,200
68,439,600
,
Reserve held
23% of deposits
Surplus
9,613,000
679,000
306,532,300
296,923,525
383,106,700
17,773,325!Inc. 10,292,000
9,608,775
29,599,625
18,184,6001 Inc. 10,302,650
10.024,950
31,893,125
310,352,100 Inc.
292,578.775 Dee.
reserve
1
Surplus, excl. U.S. dep.
are lower than last week.
For daily volume of business see page
stocks
353,507,075
following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Note.—The Clearing House now Issues a statement weekly stowing the actual
cm Saturday morning as well as the above averages.
These
figures, together with the returns of separate banks, also the summary Issued by the
State Banking Department, giving the condition of State banks and trust com¬
panies not reporting to the Clearing House, appear on tbe second page preceding.
condition of the banks
Amer Brake Shoe A Fdy
Preferred
operations were mainly
sterling to 4 86 % this
to 4 8615@4 8620, with
having touched 4 8685 @
BatopUas Mining
Cuban-American Sugar.
Dea Moines & Ft Dodge.
E I du Pont Powd., pref
General Chemical, pref..
Homestake Mining
Lackawanna Stem
New York Doek, pref...
North Ohio Tnic A Light
Si Jos A Gr Isl, 1st pref.
Second preferred.....
4 8690.
Range since Jan. 1.
Range for Week.
Lowest.
.....
Foreign Exchange.—Speculative
responsible for a rise in demand
forenoon; later there was a relapse
cable transfers back to 4 86%, after
1435.
The
200 89 H Nov
no 129 H Nov
1,300 %2H Nov
Nov
1
39
Nov
10 84?* Nov
160 103 X Nov
100 85?* Nov
20 39?* Nov
Lowest.
Highest.
21 89?* Nov 22
21129?* Nov
21 *2?* Nov
83?*
19
1111 *2
| Highest.
OCtj
91?* Nov
July 131?* Nov
Sept $3?* Jan
39
19 39
Nov 19 38
21
4?* Nov 21
4?* Novf 4?*
Nov 88
22 84?* Nov 22 83
22103?* Nov 22 Ll 01?* June 107
81
Jan 89
19 85?* Nov 19
Oct 45
21 39?* Nov 21; 34
Nov 86
23 70
Nov 23 70
Feb 39
35
21 38?* Nov
45
Nov
23, 47
July 55
Feb 40
38
23r 39 Nov
Oct 121?*
120
Nov
22 121
July
Nov
Jan
Mcb
Feb
May
Mch
100
Noy
To-day’s (Friday’s) nominal rates for sterling exchange
Get
Nov
llu
iool
Were 4 82% for sixty days and 4 86% for sight.
Jan
NOv
14 47
Hi
To-day's
Feb
Nov
5j 39
actual rates for sterling exchange were 4 8230@4 8240 for
I
Nov
221 121
Mch
Sears, Roebuck A Co., pf
sixty days, 4 86I5@4 8620 for cheques and 4 8665@4 8675
for cables.
Commercial on banks 4 81%@4 82 and docu¬
__utsid» Market.—Little developed in the way of activity
ments for payment 4 81%@4 81%.
Cotton for payme
or change in prices in the market for outside securities this
4 81@4 8134 and grain for payment 4 81%@4 82.
To-day's (Friday's) actual rates for Paris bankers' francs week. The appearance of Lehigh Valley stock on the
“curb" attracted attention, sales being reported at $9534
were 5 2234 Jess 1-16@5 2234 for long and 5 20 less 1-16@
5 20 less 1-32 for short.
Germany bankers' marks were (par $50) up to $95% and down to $9434, with the close to¬
94%@94% for long and 95 less 1-32@95 for short. Amster¬ day at $94 %. Application to list the stock on the New
York Stock Exchange has been approved. American To¬
dam bankers' guilders were 40 17@40 19 for short.
bacco
sold down from 425 to 420. Amer. Writing Paper
Exchange at Paris on London, 25f. 31c.; week's range,
25f. 31 %c. high and 25f. 2934®* low.
preferred moved up from 28% to 30 and down to 29%.
Exchange at Berlin on London 20m. 48%pf.; week’s Houston Oil common gained a point to 9, the preferred sell¬
ing down from 46 to 45% and up to 47. Intercontinental
range, 20m. 49%pf. high and 20m. 48pf. low.
Rubber lost over a point to 28% and sold up to-day to 29%.
The range of foreign exchange for the week follows:
Cables.
Sterling, Actual.
Sixty Days
Chegues.
Pittsburgh Steel preferred stock was traded in for the first
4 86?*
4 8685
High for the week
.4 82?*
time and advanced from 10034 to' 101.
Standard Oil gained
Low for the week.
4 85?*
4 8630
4 82
Paris Bankers’ Francs.
2 points to 615 and weakened to 614%. In bonds, Amer.
5 19?* less 1-16
5 20 leas 1-32
High for the week
5 22H
Smelters Securities 6s, “w. i.," rose from 102 to 103% but
Low for the week
5 20 H
5 23 ?*
5 20 less 3-64
sold back to 102.
Western Pacific 5s fluctuated between
Germany Bankers’ Marks.
95
95 1-16
High for the week
94?*
93%
and
93%.
Among
the copper issues Chino was the
Low for the week
94 15-16
94?* less 1-32
94?*
Amsterdam Bankers■ Guilders.
feature, and on good trading advanced over a point to 25%,
40
40 20
40 25
High for the week
40
a new high record.
The close to-day was at 24%. British
Low for the week.
40 16
39 96
40 21
Columbia went down from 6% to 6% and ends the week at
are the rates for domestic exchange at the ?
The followi:
634- Giroux weakened from 7% to 7 7-16. Greene Cana¬
undermentioned cities at the close of the week: Chicago, da fell from 8
3-16 to> 7% and finished to-day at 734- In¬
5c. per $1,000 discount.;
Boston, par. San Francisco, par. spiration after an early advance from 9% to 10 sank to
Charleston, buying, par; selling, l-10c. per $1,000 premium. 9 7-16 and then recovered to 10 3-16. Miami lost about
St. Louis, 20c. per $1,000 premium.
Savannah, buying, half a point to 20 and improved subsequently to 20%. Ray
$-16c. per $1,000 discount; selling, par. Montreal, 78%@
Central ranged between 2 9-16 and 2%, the final figure to¬
62 %c. P^ $1,000 discount.
day being 234- Ray Consolidated weakened from 20% to
98 State and Railroad Bonds..— Sales of State bonds at the 20%, advanced to 21% and closed to-day at 21%.
Kerr
Board include $1,000 Virginia fund, debt, 1991, at 88 and Lake Improved from 7 3-16 to 7%, dropped back to 7% and
ends the week at 7 7-16.
$1,000 New York Canal 4s at 104%.
Nipissing from 10% rose to 11,
((Transactions in the market for railway bonds steadily sold back to id% and closed at 10 13-16.
diminished day by day, beginning with $2,000,000 on Mon¬
Outside quotations will be found on page 1435.
_,
■
,
New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
TWO
OCCUPYING
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Saturday
Monday
Nov. 19
Nov. 21
♦25
♦65
104
35
70
*25
*65
35
70
♦275
84
*30
285
*275
64*4
43
66
285
84%
♦30
Wednesday
Thursday
Friday
Nov. 22
Nov. 23.
No* 24
Nov. 25
*25
*65
104V 103% 104%
101i8 1011* 101% 101%
119
119
118% 118%
107% 1077* 107% 107*4
♦89
91
*90
91%
78
78%
77*4 787*
196
196*4 194% 1957*
♦62
7012 *62
70%
•
Tuesday
35
70
*25
*65
103% 103*4
103%
101
101
101%
118% 119 *117%
107% 107% §10714
91
91
77%
78%
195
*62
*275
85%
*30
771*
196
*62
*275
70%
285
84%
43
66
*90
195
85
92
*88
77*4
777*
196% 196%
*62
70%
70%
285
*275
84%
84*4
*30
*.._.
23
*45
*30
40
*....
66%
2318 235*1 23% 23% *23
23
23*4
48
*46
48
47% 47% *46% 48
123% 124% 123% 1237* 123 1237* 123% 124%
♦147
149
147% 147% *147 148 *147 149
147
146
147% 147% 147% 146*4 147
146%
♦200
*140
♦160
210
150
170
31o
♦2*4
*6
8 "
♦67U 69
*985* 110
60
60
*75
77
*73
77
170
171
♦500
575
*73
*54
75%
*:00
*140
♦160
3%
*6
8
*67% 69
*98% 105
*59% 60%
75%
61
210
150
170
*234
*75
*73
170
*500
331^ 33
♦32%
*51
77
77
170
575
33
75%
61
210
150
170
*2%
3%
*6
59
*75
*73
*169
♦500
*32
*73
*51
*11*4
*22
29%
48%
59
77
77
170%
575
33
75
60
134
134
207*
35*4
♦20
*35
771
33
67
20
43
67
§76
♦20
21
207*
3534
35% 35*4]
♦74
77%
*74
34
*65
*15
♦39
*65
*15
*39
34
67
20
43
67
*63%
33%
*63%
Sj
*6
*67
*98%
58%
77
77
170
520
32%
73%
*74
*72
*169
*500
33
*
*73
*51
61
13
24
30
48%
20%
65*4
33
*64
*15
*39
93%
'
r
i
.
146%
*48
135
*145
54
135
149
*88%
347*
*64%
51%
♦135
*71
54
135% 135%
*145
150
*65
*15
*40
*63
67
20
43
67
*135
145
71% *70% 72
35% 36%
35% 36
114% 113 114%
! 114
*64% 67% ♦64% 67%
*10834 118 *108*4 118
*89*4 93
*89*4 93
154
154
*152
153*4
*____ 149% *148% 149
43% 43% ♦42
43%
99
99
i *98
99%
I
93
116% 116%
♦102
*90
♦100
110
110
105
*83
115%
*102
*90
*100
1297* 130%
*96%
93
116
110
110
105
130%
98
54
134% 135%
*140
89% *88% 89%l *88%
35%
34% 35V 34
70
*65
70
*64%
52
51% 52
51%
145
*83
*48
*135
*70
150
89%
34%
115%
*102
♦90
*100
129%
98
*96
1151*1 *110
69
51%
145
72
63
60
60
60
100
135
*133
135
1.200 Colorado 5s Southern....
Do l:t preferred......
Do 2d
preferred......
f%e!aware 5s Hudson...
700
190 A^e aware Lack 5s West.
1.000 Denver 5s Rio Grande...
Do pref
273
...
Detroit United
Duluth So Shore 61 Atlan
Do pref.............
LiMe _v.
:::::::::
Do 1st pref........
Do 2d pref........
Great Northern pref.....
Iron Ore properties
Green Bay 5s W7 deb ctfB
100
5.300
600
400
6.200
2.300
..
47
Havana Electric
Do pref
Hocking valley
200
Do pref
1,200 Illinois Central
6.200 Inter boro-Metro poll tan
Do pref....
5,780
1,070 Iowa Central
Do pref.............
800
67
*65
149
99
93
116
110
110
110
130
98
1157*
*102
*90
*100
60
68
51%
145
69
...
67%
145%
Do pref
66
61
145
69
*65
68
110
95
*101%
*88
♦152
153%
*147% 148%
42% 42%
99% 99%
93
117
108
110
110
1157* 117%
*102
*90
*100
;..
f ake Erie 5s Western...
JLi
Do pref...........
Long Island-.......
2.600 Louisville 5s
NashVuiel”
\/f anhattan Elevated...
Minneapolis & St Louis
100
400
1.930
Do pref
Minn St P 5c S S Marie...
Do pref
Do leased line ctfs
Mo Kansas 5c Texas
Do pref.............
Missouri Padfle
200
Chatt
5s St1st
Louis,
Nash
at Rys
of Mex
pref
...
1.525
149
65
51
*135
69
36
New York
Aetna
176
America n__
595
230
Amer Exch.
Audubon
Battery Pk.
Bowerv fl...
Bronx Boro!
Bronx Nat.
Bryant Pk f
115
122%
375
300
200
155
Butch & Dr
138
Century U
170
430
Chase
i
tut
1
Ask
Banks
Chatham
Chelsea Exf
Chemical
..
180
605
..
Citizens’ Ctl
125” City
Coal & Iron
205
160
145
175
451
Colonial 1)
Columbia 1).
310
2*750
100
100
100
Do 2d
300 N Y N H 5b Hartford
600 N Y Ontario 5s Western.
1.700 Norfolk 5s Western,....
109
110
110
Do adjustment pref
Northern Padfle
I>adflc Coast Co.......
I
Do 1st pref........
Do 2d prel
130% 130*4
*94
225 Pltt«b an Chic 5b St L..
98%
*110
Do pref.............
115%
152*4 153% 2*18*600
115%
153%
88%
97%
33%
88
88
94%
94%
33%
67%
33
67
67
63
42
27
65
118
27
63
*60%
41%
24*4
*62
63
42
25
65
117% 118%
27
63
277*
12%
7%
25%
57%
*26*4
♦12
*7
27
63
28
13
10
25%
..........
t
400
1,100
46.450 Rock Island Company..!
Do pref
1.8
400 C*t L 5s San Fr. 1st pref..
D
Do 2d pref
2,750
200 St Louis Southwestern...
Do
200
pref
20.800 Southern Padllc Co..
1,600 Southern v tr cfs stmpdDo pref
do
1.240
.........
300 f|Vxas 5s Padfle
500 JLhlrd Avenue (N Y)...
200 Toledo Railways 5s Light
2,000 Toledo St L 5s Western
.....
25%
57
Do pref
1,800
57%
*109
100 Twin City Rapid Transit
112%
"nlon Padfle...
177% 178% 152,800
*93
93%
1,100
*26
Unit
Rys Inv't of San Fr
29%
Do pref
*55% 58
“*200
900 IlTabash
*1714 18
*37
Do pref
1,350 Yf
37*4
47
46%
1.700 West Maryland Ry
74
74
Do
pref
1,775
*5
6
Wheeling 5b Lake Erie..
*12
16
Do 1st pref
"loo
*7
8
400
Do 2d pref.........
112
"
178%
...
93
29%
58
17%
36*4
47
75
...
6%
14*4
7*4
.....
61%J
*59
62
300 Wisconsin
Central
Bid
Ask
310
200
425
150
380
153
401)
330
.
Fidelity 1|..
165
Fifth A veil. 4000
Banks
Filth
First
.....
m
.,
430
m
155
385
158
m
•
Germ-Am
405
j
ExjJ
Germ’n
T200% Germania D.U
315
125
175
4250
Gotham
ii
t
w
d
xtnu
Bid
Ask
300
840
150
350
155
tl9tf
325
290
140
485
651)
150
255
610
oo\j
550
332~
36
176
Feb
*4
60% J’ly
2u
1
94
99
46
70
82% Msy2
202% NOV
70
312
92
J’ly 26
Aug 2
J'ly .6
J'ne -7
j’ly
.
J’ly
23% J’ly
62% J’ly
j’ly
26
26
26
11
J’ly
1
45
10
Men
Jan
Jan
Feb
Mch
IS1
173% Feb
198%
Mch §230
208
Apr
148
167
166% Jan §180
7
3% Dec
7*4 Dec
18%
Jan
68
83%
Jan
100
105
Dot
61
68%
Jan
86
76%
73%
535
37%
79%
_
OO
68
14% Nov
28
Feb
22% Mch
36% Mch
28% Mch
26
J’ly10% J ly 26
34% Jan
35
J’ly ji
52% Mch 8
42
26% J’ly 27
Mch 8
118
J'ly 26 1437* Jan 3
45
J’ly e
60% Jan 4
11
Aug 10
181* Mch 22
88% Jan 20
97% Apr 14
99 Jan 4
93% NOVJ7
102
May ' 140 Oct 4
86
Feb
101% J'ne 14
_
feb
136%
66% Mch
13% Nov
J'ly 28
147
14% J’ly 26
41% J'ly 26
Jan
6
30
Jan
3
64% Jan
3
68
J’ly 26
Aug 2
J'ly 20
Aug 2
15
39
J’ne3u
Oct 1
60
J’ly
25*4
62*4
70%
159*4 Jan
w
1
26
131% J’ly
J’ne3G
J’ly 26
Seo 21
J’ly 26
J’ne 6
x8b% Sep 20
27 J’ly 26
67
J’ly .6
41
J’ly 26
123
23
40
114
144
...
125
60
80
44%
71
Oct
5
6
53*4 Jan
4
146
80
145
Feb 24
Mch 3
1551* Mch 2
92*4 Jan 3
£1% Jan 5
74% Jan 5
73% May23
J’ly 26 140 Nov 3
Feb
3
73% Nov 3
37% Novl4
j’ly 26
J’ly 26
May 4
J'ly 8
Apr 28
128
Mch 9
68% Nov 3
109% Jan 21
98
Apr 28 162
J nelo A151
60
38% Aug 2
88% J’ly 26 108%
88
Feb
2
111% Aug 3
100
Oct 13
Feb 14
122% J’ly 26
89 J’ly 26
110
Oct 25
130% J'ly 26
185
Aug 24
105
87
Feb 18
Jan 3
Jan 4
Jan 5
Jan 3
Apr 14
j’ly 26
Jan 19
Mch 14
Mch 11
Jan 5
i
Feb
Apr
Feb
Mch
11%
36%
Mch
NOV
26*4
Sep
48
Feb
74%
Feb
37
677* Feb
19% Feb
J"*
Jan
48
69
xl2l
Jan
Pec
137
61
81
SeP
Mch
1321*
Jan
Apr
147
i1?
89
35% Feb
Fob
71
65
Feb
122% Jan
44% Apr
21
Deo
120% Feb
481* Mch
100
Feb
761* Apr
f 154 NOV
Til 47% Dec
42% Feb
Mch 21
84% Jan
91% Mch 16
85% Men
145% Jan 3
133% Feb
118*4 Jan 21
76
Mch
118
Jan
138%
3
M^h 9
104% Mch 22
116
Mch
1
172% Feb 18
93% Feb 17
110% Jan -
22% J’ly 26
57% Jan
54 J’ly 27
92% Apr
73 Jan
58 Aug 11
60 Jan
34% Aug 2
18% J’ly 26
34% Jan
61% J’ly 26
77% Jan
103% J’ly 26 *138% Jan
18
j’ly 26
33*4 Jan
75
43
J’ly 26
Jan
22% J’ly 26
36*4 Jan
5% J’ne 1
19% Jan
5% J’ly 6
16*4 Jan 12
19
j’ly 26
64% Jan
72% Jan
42% J’ly 28
103
j’ly 26 117% Jan
152% J’ly 26 20434 Jan
88% j’ly 26 103*4 Jan
23*4 J'ne30
42% Jan
47
J’ne30
72% Jan
12% J’ly 26
27*4 Jan
61 Jan
28% J’ly 26
40
J’ly 26
64%Mch 12
100
88
104
118
89
90
Feb
Feb
Mch
Feb
207* Feb
67% Feb
66% Mch
36
Feb
20% Feb
47% Jan
114% Feb
22
60
30
Feb
Jan
Feb
12% Dec
7
43
May
Feb
64% Feb
97
Jan
172% Feb
x94
30
Mch
Feb
60% Fob
16
41
_
84%
200
680
61
90
Feb
hob
SeP
65
90
Jan
Jan
149%
1641*
Jan
Aug
94
142
64
151%
99%
116%
173%
Sep
Deo
Sep
Sep
•*—
75% Deo
40% Aug
42%.Jan
15% Jan
54% Oct
74%.Jan
116% Deo
219
Aug
118% Aug
47
77
Sep
Sep
27% Dec
61% J’no
75
Aug 15
Apr 28
J’nejo
J'ne 30
J’ly •’O
Novl9
Jan
Jan
13% Jan
64
Nov
10
23
6
J'ly
16% J’ly
6% J'ly
357* Jan
12% Jan
25% Jan
15i* Jan
637* Apr
QUOTATIONS.
185
PadttcU
230
350
245
190
Liberty .v-*- 575
260
aOU
Deo
Dec
82
1391 Aug
139%
34
Aug
JeifersonJ..
202
Sep
96
Aug
117% Deo
81
Deo
94% Deo
74
Deo
60*4 Sep
35% Deo
Bid
flaurn3)|.
MorrisH
Deo
Deo
20% May
147% Aug
69
Nov
100 Feb
95
Nov
174% J’ne
7)149*4 Dec
65% J no
102
Deo
92% J iy
159% Aug
116% Dec
162
100
Metropol’nlt
Deo
50% Oof
78% Oct
771* Aug
Banks
Mt
fltv
Apr
Apr
60% Aug
751* Aug
29% An*
64% Jne
71% Deo
162% Aug
153% Jan
Prod Exch U
Reserve
Seaboard
390
Jan
38
62
82
295
Metropolis 1)
May
Apr
Apr
J no
Aug
Deo
Deo
Ask
265
620
Poo
565
Jan
94%
162%
25%
63%
Bid
.
May
Deo
Deo
285
240
210
900
315
Mark’t&Ful
Mech&Met’s 245
Mercantile
150
Merch Exeb 160
Merchants'. T79
Jan
103
100
Banks
Manhattan^
Mch
66*4 Aug
46 Aug
1577* Aug
88% Aug
21
Deo
Mutual fl
Nassau 1)
New Neth’d
NewYorkOo
New York.
N’bt & Day 11
19th Ward.
Northern
300
150
505
565
Jan
Deo
J no
39
210
325
252%
Jan
36% Jan
Ask
Lincoln, a..
Ang
J iy
Feb
21
Bid
Banks
Irving N Ex 200
400
Aug
Aug
Aug
71% Aug
Mch §106
Mch 116
126% Feb
86% Jan
.
67
3
8
4
44
Feb
83%
137
25% Jan 11
027* Jan 12
J’ne 30
15
25
68
23
39
88
.
124
Jan
Feb
Feb
Jan.
Jan
Jan
******
167*4
_
Mch
Dec
64% Deo
165% Sep
141
18% Jan
34% Jan
17
74% Apr
78%
37%
158%
Jan
Jan 27
--
827* J’ne
189** Dot
70% Nov
323% Sep
91% Deo
Nov
70
Mch 21
Jan
66
Feb
Nov
Jan
Mch
31% Dec
58*4 Dec
Jan
62
84
Jan
„
_
185
C20
490
Jan
Jan
162% Feb 23
§170% Feb 18
May 14
5** Jan
Sep 28
12% Jan
Nov 1
92% Mch 18
Sep 14 104 Jan 15
J’ly 26
05*4 Feb 25
149% J’ly 26
_
125% Oct
106*4 J no
143% Aug
122% J ly
90
Apr
60% Jan
215
Feb
:5% Jan
£5%,
677* Feb
oan
225
83
81
.
103i*>
91
67
rl65
_
J’ly 27
Aug 1
70
107%
06*4 Jan
69
Apr
307gJan
64% Jan 10
158% Jan
172% Jan
182% Jan
j'ly 26
J’ly 26
ne30
J’ne
Sep
26
J ne27
ne
28
Apr
Apr 25
Jan
Mch
26
Jan
100% Jan
97%
425
330
257%
248
160
170
181
410
200
200
zou
225
250
People's U..
Phenlx
....
ruuai|»««»a
PlaxaU
325
Sherman...
400
400
135
230
State
12th Ward.
23d Ward..
Union Exc.
Wash H’ts U
West Side {
York vllle 1J.
275
260
625
..
Second
105
..
Park
...
220
240
355
255
200
’Bid and a~ked
an<1 aked Pr ces; no sales were made on tnis day. tEx-ngats. 4 Less than 100 snares. UState oan us. a Ex-dlvldend and
rights.
f Sale at Stock Exchange or at auction this week, h First installment paid
n Sold at private sale at this prloe.
s 2d paid.
y 3d
ao
Highest
Mch
20
_
26
6
8
20
Mch
72% Mch
124% Jan
104% Jan 10
137% Jan
119% Jan
87% Sep 10
68% Feb 7
149
s.. 4143
Subscription receipts
14*710
90*4 J’ly
x97
J’ly
102% J’ly
100% Sep
pref........
23%
N Y Central 5c Hudson..
105%
N Y Chic 5b St Louis....
55%
Do 1st pref.......... §101
Do 2d pref...........
8234
19.300 Pennsylvania
97
Commerce
t200
Corn Ex U_. 310
East River. 115
pref
City Southern..
1.650
54
89%
34%
IZ O Ft S 5s M tr cfs,
IVansas
50
8.400
36%
113% 113% 10.700
68
110
95
154
*59
34
67
20
43
149
129% 130%
96
*110
.
77%
*88%
34%
1487*
42% 42%
99*4 9934
♦
21
36
133*4 134%
*147
43%
20*4
66%
BANKS AND TRUST COMPANIES—BROKERS’
Banks
_
Do pref
„
93%
*125
*48
34% 35%
113% 113*4
.
*60
3.509
*140% 142
28*4 29
89%
34%
*34
*65
*51
*135
69
*110 115% ,*112
115%
154% 154*4 152*4 154V 152% 153% 152%
*88
88
89
*87% 89
97
96
98
*95
97*4
97121 *96
r
33*4 34%
32*4 33%
32% 337*
327*
*67
68
67
67
67
67
67%
*61
65
62
63
62% 62%
*60%
41
42
40% 42*4
41*4 42*4 *40%
♦24% 27
*24% 27
*24% 26
*24%
64
*62
65
*62
*63
64%
65
119
118%
117*4 118% 117% 118% 117%
*27
27
27*4 *27
27
27*4
27%
63
*64% 64% §63*4 63*4
63
63%
i 28
28
*27
28
*27% 28
*26*4
13
12
12
f
12% 12*4 *12
12%
*6
9
*6%
7%
7%
7%
7%
24
23
24
24%
25
23%
25%
56% 6714
56% 57%
57% 57%
571*
*108
112% *108 112% 111 111 *108
179
177% 178V 1767* 178% 177%
l! 178%
92% 493
93
93
92% 93%
93
1 *28
29
29% *28
*26
29% *27
57
J 65% 55%
57
*55
58
*55
r., 18
18
177* 177*
17% 17%
17%
F 377* 38%
37% 37%
36% 371*
36%
47
47
46
471* *457* 47% *46
75
75
75
74% 74% *73
'K 74%
*5
*5
6%
*5%
6%
6%
*5%
*14
16
*13
*14
16
15
14*4
*7
*7
8*4
8%
77*
77*
714
9
15
*74
*33
*65
*15
*39
*63
145
54
134
150
*88%
108% 108% *101%
*8<J% 95
*88%
152% 152% *152%
*147
*42
99
*83
*14
*93
20%
55%
20*4
*34%
67
20
43
67
♦48
134
*147
34*4 35%
113% 1137*
67
38%j
...
.......
*133% 135
20% 20*4
20*4
55% 55%
56%
19
21
20%
36
35% 35*4
*74
76
77%
33% *32*4 34
146
*47
49
*35
124
93%
*63%
146% 145% 145% 145% 145%
♦140% 141% 141% 141% *140% 141%J *141 142
29% *27
30
{ *27
29% *27
29*4 *27
}
146
,
100
24
297*
124*4
59% 59%
135
12.600
13%
*47%
93%
*125
32*4
74
61
♦11*4
*22%
297*
377*
123% 124%
59% 59%
13% 14%
957*
170
575
32%
73%
*51
76%
76%
Feb 26
48% Feb 25
25
....
Central of New Jersey... 248
Chesapeake & Ohio
65
Chicago A Alton HR..
23%
Do pref.........
64%
Chic Gt Wea$ trust ctfs””
19
Do pref trust ctfs
40
...I
Chicago MUw & St Paul.. 113*4
Do pref
143
Chicago 5s North Western 137%
Do pref...
203
Chic St P Minn 5s Omaha 140
Do pref...........
§160
Ohio Un Trac ctfs
2%
stmpd
Do pref ctfs stmpd....
47*
Cleve Cin Chic & St L.
61
800
100
Lowest
Highest
Railroads
an Arbor
Do pref
(tanadian
Padfle
Canada Southern.””
i‘!
69
105
59
Lowest
9.990 Atch Topeka A Santa Fe
700
Do pref
660 Atlantic Coast Line RR__
840 |>attimore
Ohio
250 **
Do pref...
17.650 Brooklyn Rapid Transit.
2.850
38,050
Range for Previous
Year (1909)
On basis of 100-sAars lots
EXCHANGE
‘A
295
150
170
*2%
37%. 377*1 *35
•1335* 135
134% 135
21% 21%] 207* 21%
56% 671? 56
56%
135
*190
*140
*160
8
69
*74
*72
*169
520
285
85
40
66
23
123% 124%
f*147 150
146
146%
*98% 105
59% 59%
123% 124
59% 60
135
90%
*125
*6
*67
*11*4
24
*22%
29*4
30%,
48% *46%
*125
94%
135
23
3%
13
15
*
*
210
150
175
*2%
8
*14
♦125
*200
*140
*160
67% 671*
*985* 105
*11*4 131* *11*4 13%
23
23
*2212 24%
30*4 307*
30% 30%
49V
48% 48%
38
38
37% 37%
12414 124% 123% 124
59V 607*
59% 60
*14
♦14U 15
14%
.
>
*200
*140
♦160
91
77%
196%
84%
40
66
103% 1037*
101% 101%
*117% 119
107% 107%
1037*
101%
119%
107%
Range Since January 1.
YOBK^STOCK
NEW
A
30
72
*25
*68
30
70
Sates of
the
Week
Shares
PAGES
H
....
....
140*
172%
275
650
500
....
t> New stock*
paid.
4ii
425
290
140
1
^OY. 26
STOCKS—HIGHEST AND LOWEST
Nov. 21
Thursday
Friday
Sates of
the
Week
Nov. 24
Nov. 25
Shares.
SALE PRICES.
Wednesday
Nov. 23.
Tuesday
Nov. 22
Monday
Saturday
Nov. 19
♦8
♦32%
705s
♦44
♦100
♦8*4
32
10
32
69%
70*4
45
45
*8%
10
34
71
45
♦olig
6914
7712
5434
♦11312 115
64l2 65
♦230"
"
4%
2434
1912
13
3414
*4%
♦2334
1912
♦1212
3414
4014
40
♦105
107
414
♦312
35
89
♦32
♦88
8134
77*4
54*4
115
65
102
250
$115
250
10*8
78%
55%
10*4
10l8
7734
5512
On basis of
Lowest
65
*100
+230
24
19
13
35
*18l2
1212
40%
*39
*33
40
*105
4
*33
82i8
4
35
106
*240
101»2 *100
48
*47*8
118*4 *117
117
118
14214 142
96
96
11834
♦1165s
142
♦95
♦93
94
♦42lg
4212
33
32%
♦60
♦136
10
3414
2014
6778
95
42
35*8
93*4
41*8
32*4
32
35*8
94%
41*8
3234
63
93*4
6OI4
...
11
80
*9*2
♦29*8
33*4
106*4
35*8
5*2
135%
16*8
34
80
80
64*4
65
8378
34%
14212 1427g
95*2
*34*2 35*4
93*4 94*4
♦41*2 42
32
82%
62% 62%
*95
625s
13712
12
30
34*4
105*8
35*4
512
135
16*2
80
105*8
3412
♦4*2
134*4
10%
|80
*64
*134
*12% 13*4
65% 66%
44% 45
*84*2 85*4
106% 106*4
67
95
*90
75
*737g
*110
112
75
76
112% ♦110
*10
*82
*58
18
87
60
13*8
55*4
44*4
♦85
8512
106*4 108
92*8 92*8
65*2
44U
95
75
75
18
87
60
18
87
♦15
♦82
72
92
72
96
165
165
21*
21
*4%
357g
♦97%
851S
9712
♦176U
♦51
34%
35
96%
96%
165%
112
17
14
112
(*120*2 124
♦15
*82
♦58
37
139
*88
*7
139
93
9
60
105
106
37%
139
93
8
60
*50
*104
10578 105%
18*2
60
♦_—
70
9*
71;
(100
72
7*2
*4%
*15,
17
36
1111
75
17
36
HI
36*8
111
75
*72*8
79%
807g
117l2
81%
118
118%
49*4 50%
63
63%
50iS
62*4
*56
10512
105
105*2
1712 17*2
*72*4
79*4
62*4
*120
♦158
165
*158
72
163
71
*120
73
124
*158
*71
72
*120
721
72*4
17
36
110
75
I8I2
85*8
80*j
35%
7212
80*4
49*8
6234
49%
63*4
63
126
*120
126
165
*152
165
72*4
72
124
122% 122*2
72
73*8
*122*2 124
S72
72
$160 160
72% 72%
\
Banks
Ash
Bid
Banks
Brooklyn
Broadway f 376
Brooklyn
Coney Isl’dT
100
North
155
290
310
People’s
Prosp’ctPk*]
First
;
HUlMdeU.—
Homestead^
Manufac’rs’
Mechanics f
Montauk
Nassau
•
^
415
230
.
245
Nat
•
125
115
—
245
150
270
Bid
Ask
1285*2
City,
Side f 150
180
...
158
150
Terminal \
160
90
Trust Co’s
N Y City
A s tor
Bankers* Tr
320
630
..
Columbia
Commercial
280
120
Empire ... 800
Eqult’ble Tr 465
Farm Lo&T 1625
..
Fulton
.
115
8
48
JTlCoO
JTy 23
61% J’ly 26
98% J’ly 26
277 Apr 4
95% Jan 13
38 J’ly 26
111% Oct 3
104
Carpet
.........
8
J ne2y
26%
99%
22%
3
322
66
Do pref
International Paper.....
Do pref.............
Internet Steam Pump...
Do pref
Laclede Gas (St L) com..
J’ne 8
JTY 26
J ly 27
JTy 26
Sep 12
JTy 26
900 \J ationai Biscuit
JL*
Do pref
Nat Enamei'g 6b Stamp’s
....
100
120
3.825
200
625
1,150
1,400
Do pref
National Lead
Do pref
dNev Cons Copper. Par 35
New York Air Brake
North American Co. new
Pacific Mall.
aciOc Telep 6b Teleg..
1,076 People’s G L 6b C (ChlOPhlladelphla Co (Plttsb’h)
'“'loo Pittsburgh Coal Co.....
Do pref
300
.......
2,300 Pressed Steel Car
Do pref
i
750
668 Pullman Company
200 Quicksilver Mining
Do prof.............
500
400 1> ail way Steel Spring..
Do pref...
122 Aw
...
1,400 Republic Iron 6b Steel...
Do pref
400
3
3
4
237. Jan
3
25*2 Mch
99% Apr
29 Feb
61% Oct
111
Sep
63 Deo
21% Feb
91*2 Deo
165% Jan
20*2 J ne
93*2 J’ne
63
Deo
41% Jan
95% May
94
Aug
172% Aug
Jan
129
16
Mch 8
Jan 3
Jan
115
125
Sep 17
28t2 Jan
Oct 17
96% Jan
89% Jan
46*2 JTy 26
110%
Jan
10i% J’ly 26
$17% J’ly 6 322% Oct
59
J ne 6
95% Jan
Nov’23
22% J’ly 26
84
60%
84
13
26
60% J’ly 26
25 J’ly 26
,
Sep
7
J’ne 4
107
Jan
JTy
Mch
Feb
33%
17
10
Jan
J ne
82%
104
70
10
Jan
Jan
69*2
96%
H8%
12%
10
3
18
8
Jan
Jan
Feb
Jan
82
71% Feb
102% Apr
17
17
3
Feb
Jan
80
Jan
72
29% Feb
45% Nov
101% Jan
99% Dec
Jan
5178 Jan
J’ly 27 107% Jan
J’n029 200 Jan 11
Sep 26
3% Apr 6
5% May21
27. Aug 2
28 J’ly 26
61% Jan 3
27
«»an
109%
9%
lb
40
Feb
30%
Feb
96
Feb
169
Jan
15. jan
3
Mch
90
155
2
*90%
Feb
62
47% Mch
43% Jan
46% Jan
116% Jan
106*2 Jan
27*4 Jan
85
150%
5%
18>*
Jan 6
Jan 17
14
84
25
26
6
4
Jan
61% Jan
54% Jan
90*4 Jan
U6% Jan
98 Oct
78% Oct
J’ly 26
93% JTy 29
79 J’ly 26
71
J’ly 27
100 Aug 3
118*4 J ly 6
J ly
J’ly
J’ly
J’ly
114% Feb
16*2 Feb
73% Feb
45
Jan
32t2 Feb
Mch
55
80
Feb
7% Jan
24% Jan
781*
30
3
160% Jan 6
39% Sep 26
125% Jan 10
Jiy 1
...
....
32% Mch
Jan 17
97%
Feb
16% F°b
457,8 Jan
104% Jan
118% Dee ;
128 D«o j
9 Oot }
27% Jan |
19% Jan 1
69*4 An«!
64% NOV.
91
SeP
113% Dee
951* Nov
77% Dee
Sep
120
Sep
80*4 pee
99*2 Sep
130
94
i
■
AUf
!
113*4 Aug
97% NOV]
87% J’ne i
48% Nov,
64
Oot i
120 AUf
108 Deo j
29% Not.
87% peo 1
66 Aug
111% Aug
200
Aug
9% j’ly '
10 May
64*2 Aug
Aug
109
49*2 S«P :
110*4 Jiy 1
67% Feb
82*4 J’ly 26
J’ne30 190 Nov 12
Ir
68 Feb
86% Jan 3
94% Oct
48% JTy 30
Do pref..
114 J’ly 6 118*4 Feb
107% Feb 120 Sep
349
Jan
dTennesseeCopper
340%
Jan
6,800
Part 25 819*4 JTy 26
333% Oct
715 Texas Co (The)..
144
Oct 18
134 Oct
Texas Pacific
sifle Land
La
Trust
95
83
Feb
May 13
8OI2 Feb
93% J;iy •
““46
6
J’ly 6
16% J’ne
13% Jan 10
9% Feb
Do pref
73
55
j’ly 15
Jan 17
66 Jan
81% J’ne
96
150 United Dry Goods Cos..
116
Oct 126*2 Deo
Aug 2 122 Jan
Do pref
500
rl09
99% Aug 2 113% Jan
Sep 114 Dee
32
400 U S Cast 1 Pipe 6b Foundr
Jan
35% J’ne
24% Feb
14*8 J’ly 21
84 Jan 10
Do pref.............
70
Mcb
49
J’ne28
87*2 Aug
United
States Express..
82 Feb $111
260
Dee
95% J ly 26 145 Jan 10
Feb
U S Realty 6b Improvem’t
64
87 Sep
84% Jan
64*4 J’ly 26
U S Reduction 6b Refining
Mch
11
10
4
J’ne 27
Jan 14
17*2 Jne
Feb
24
Do pref
13
J’ly
39*2 Ang
29% Jan
500 United States Rubber...
27
27 Feb
67% Ang
JTy
52% Jan
Jan
98
300
Do 1st pref.....
99
J’ly 26 110% Jan 10
123*2 Aug
84
Do 2d pref.....
200
Jan
89% Aug
59% J’ly 27
67% Feb
91
Jan
344,250 United States Steel
94% Oot
61% J’ly 26
41% Feb
Do pref.......
131 Oct
107
Feb
6,297
110*2 JTy 26 125% Jan
8.750 dUtah Copper...Par 610 1839% J’ne 30 360% Jan
339*8 Feb 307% Nov
47
Feb 3
66% Deo
5,000 Virgin!a-Carollna Chem..
66*8 Oct 21
40% Feb
Do pref............. 117 JTy 28 129% Jan
128 Dee;
100
114 Jan
73
Virginia Iron Coal 6b Coke
67
Feb
50 Sep 24
Jan
76% Sep ]
152
50 \\7eUs Fargo 6b Co—
Feb 8 al95 Jan
300 Jan $670 Dee
estern Union Teleg—
64
Feb
620
56 J’ly 26
85% Nov
78% Mch
90 Aug
74 Feb
6.300 Westlngh’scEl *Mf g assen
82% Jan
49% J’ly 26
....
250
900
14
...
& Co*
Sears,
RoebuckSteel
loss-Sheffield
150
Union Bag 6s Paper....
Do 1st oref
Ask
115
1030
285
130
310
110
May 3
130
Feb 24
Mcb
110
....
Bid
Ask
180
NY Llfe&Tr 1120
N Y Trust. 635
1180
650
Trust Co’s
Brooklyn
Brooklyn Tr
180
Savoy......
100
410
510
330
1300
Citizens’
Flatbush
Franklin
Hamilton
Home
1190
LIsTL ATr|
Trust Co’s Bid
Guar’ty Tr. 906
Guardian Tr
Ask
Hudson
Knickerb’kr
Law T IdsTr
Lincoln Tr.
Madison...
472% Manhattan
1650
213% 217*2
290
Sep
Jan
60
88
JTy 26
3*4 JTy 26
69*2
48*4 Jan
92% Jan 4
160% Jan 3
23% Jan 6
86% Jan 3
65 Nov 22
.36% Jan 10
J’Jy 26
Mch
Feb
J»n
17% Dec
,
104% Deo
19% Deo
87
Nov
50
41%
103
I8S4
47
118
109% Mch S
11% J’ne30
70% JTy 26
Apr 20
25% JTy 26
12
Oct 26
37
Oct 27
Nov
Feb
Feb
26 Feb
93*4
337*4 Feb
Mch 7
164% Jan
18% Jan
33
56
9
118
125
90*2
347. Oct 21
65 Jan 19
J;iy 26
12%
Mch
34% Feb
115% Nov
128% Feb 18
Feb 28
148% Feb 24
99*4 Mch 14
39% Mch 18
8
Jan
95
Jan 10
Jan
Nov
77% Feb
101 Jan
225 Mch
3
124
Ant Harvester stk tr ctfs
600
80
101% Sep 20
90%
26%
28
Jan
38
3
112*4 Jan 3
2fc5
Apr 27
Oct 3
126*4 J’ly 26
J’ne3G
Aug 10
109% Feb
5*2 JTy
Jan
Feb 18
Mch 21
90% Jan
112
Mercantile
Metro pol’t’n
Mutual....
Mut AUnoe
.
170
SIP
Trust Co’s
297*2 302*2 Standard Tr
256
130
203
876
700
510
265
140
205
400
740
520
Washington
130
Westchester
Windsor
130
125
90
400
TltleGuft Tr 600
Tr Oo of Am 320
Union Trust 1275
US Mtg& Tr 476
Unit States. 1160
no
on tins day. i Less than 100 shares, t Ex-rights. b New stook
0 Ex-dlv and
Hole at Stock Exchange or at auction this week,
s Be- stook dividend.
U Banks marked with a paragraph
17*4 Jan
46% Jan
62% Jan
82
21
49
125
Feb
18% Jan
12
Feb
29 Jan
49
Feb
34
145
COMPANIES—BANKERS4 QUOTATIONS.
Bid
trust Co’s
N Y City
B’way Tr.. f 144
110
Carnegie
Central Tr.. 1015
Fidelity
640
73
73
28*2
4
29% Mch
29
JTy 26
102% Aug 6
3% NOV 22
I
Feb^
8i8 Jan
47% Jan
J’neso
Feb
33*2 Jan
44%
107*2 ?eb
42% Jan
98
Jan
(205 Feb
6% Feb
Oct 13
NOV
16% Aug
67% NOV
£6*8 NOV
60
Ang
103
Aug
49*2 Aug
98
Oct
16% Nov
86
J ne
76*2 Nov
124% Aug
79% Nov
107% Nov
300
Dec
10 Sep
61% Aug
42% Apr ■
20
J’ne
47% J’ne
69% Aur
122
Aur
11% J’nw
69
Sep
92% AUg
105% Nov
116*4 Aug
(285 Nov
105 May
66% Nov
136% Sep i
131 Apr
145% Sep '
104
May
40*2 Aug
107% J’ne
864% Deo
36% Sep
>260
95*2 Jan
20% Jan
82
Jan
7% Feb
71% Feb
Mch 9
Jan
....
♦122*2 124
BANKS AND TRUST
Brooklyn
7*2
17
86
111
75
79% 80%
118% 118%
49% 49*4
63
63%
118*8
118
60
100
71
*15
*35
*110
*72
111
72*8
791s
60
*4%
712
17
*110
92
9
*56
*95
*67
59
100
70
*4*8
138
$105% 105%
*101
103%
17% 17*4
104
*15
183
52*2
138
*88
*7
*56
10512
*17*4
35
99
$114% 114%
37
37%
92
9
60
*56
*95
*66
118*4 118*2
49*8 50*8
126
*88
*7
*56
*104
*102
71
35
97
*51
52
36*4 37*8
13812 138l2
7*2
*4*8
*15
*35
110
*120
71
124
59
100
72
*56
*95
*67
126
71
♦120
93
8
60
S3
♦120
♦7012
37*4
138*2
105*2 *104
*56
98
*06
$183
51
20*2
*164% 165*2
*2%
4
5%
*4*4
*34% 36
$96*2 96%
97
61*8
92
*89
*20
*70
*34
*96
♦1791s 182
97
45
106% 106*8
*34
*97
99
37
*138
*88
45
97
♦97
77
65
80% 31%
3412
98
180*2
61% 61*2
*73
*61
72
98
18
87
60
♦105% 107
20% 20%
92
97%
35%
*17%
♦72
97
112
25*2
65
•
6934 Mch 9
107
3.450 Distillers1 Securities Corp
200 Federal Mining 6b Smeit’g
Do pref.............
1.000
134
10,400 General Electric..
tfGoldfield
Con M.Por 310
17% Oct 14
6.300
s«3% Feb 8
1,400
Do pref stk tr ctfs... zll7
Aiigll
100
Int Mer Marine stk tr ctfs
4% J’ly 25
.....
20*2
97%
34%
6%
171
♦11012
3412
*89
*20
*70
*34
*96
86
59
♦15
36
71
179
51*
♦41S
20*4
17
200 Crex
3.525
14%
1.950
$57% 57%
28.600
44% 44%
1.600
85*2 851
6.300
107% 1077
*90
100 Mackay Companies
93%
Do pref.......
100
*74
75
18
87
*5
85
♦57
♦95
1714
92
113
121% 121%
*4%
5*2
94
75
112
164*8 165 *164*2 16512
*2*4
4
♦2*2
3
5
5
5*8
5lg
♦33*2 36
*34*2 36
*96*2 99
*96*2 99
34*8 341s
34*4 34*4
4
*2*4
51
36
99
351
98
185
*89
*20
71
34
*96
20%
72*2
165
37ig
139
♦88
*8
♦56
105
♦105
93
*89
*20
*70
20
*39% 56%
158*2 159*2
8%
8%
587S 687, *5812 5912
106% 106% S106*4 106*4 *10512 107
♦10514 107
20*8 207b
20*2 20*8
20% 21
*73
77
♦73
75
75
76
7412 741s
66
66 ♦__.
$05
65
601s 64
31*2 *2912 31
30% 30*4 ♦30
3078 307
46
46
4512 457s
4512 45*2
45% 45*4
106
*106
107
107
107
♦106
106*8 106*8
♦89
33*4
♦15
13*2 141s
56*2 57*2
44*4 44*4
85*2 86lS
1071s 107*4
♦15
♦82
75
33%
881s 331s
*91
*74
*110
2,100 Oethlehem Steel...
Do pref...........
1,740 E>
Brooklyn Union Gas...
100 Brunswlok Term * Ky Sec
Cientral Leather
*65
190
82% Nov22
72% Jan 3
120
109
JTy 26
JTy 6
Do pref
91% JTy 6 104
dAnacondaCopper Part 25 333% JTy 26 554
*9*2 11*2
Butte rick Co.......
*29% 30
2,500
84% 34%
>
...
Do pref...........
165
$106 106
34
5.950 Colorado Fuel & Iron...
34%
Col * Hock Coal 6b Iron.
♦4%
5*2
"jj'eoo Consolidated Gas (N Y).
134*4 135
1.425 Com Products Refining..
16*2 1612
Do pref.............
*78
205
80*4
11112
♦120*2 124 ♦1201s 124
*120% 124
♦12012 124
13*4
138
10,950 American Teleph * Teleg
300 American Tobac (new) ,pf
1,900 American Woolen
500
475
J’ly 26
39*2 JTy 26
J’nejo
621s J’ly 26
101
Feb 1
§235 Aug 3
3*2 Sep 18
19
Sep 8
16% J’ly 26
10*s J’ly 27
........
21
♦737*
♦82
♦58
♦91*
*29*8
33*4
*105*4
34*4
*412
134*4
16*2
80
67
♦90
♦16
62*8
62
.....
327b
*134
45
.....
87
32
138
*136
“
llf%
111
34*2
20
♦16
20
♦16
68
56
67
58%
66*2]
164% 166*2 156 15612 156*4 15812
8 8
8
8
8
8*8
112% 112*2 112
112*2 112 112
♦121
♦121
*121
12114
121%
121*4
♦5
*5
♦5
6%
5*2
5*2
17
17
♦16*4 17*2 ♦16*4 17*2
113
♦120% 1211
♦45s
6
♦161* 17
12*4 131
♦56
13
*3212
1425s 1427,
♦94*4 9512
*35
35*2
*9312 9412
§41*8 41%
142*4 14278
95
*15
58
1541
♦154
*12
79*8 80*2
1057b 105%
81
10612
80i8
96
36
33*2
34*4
2OI4
53
1914
87
88
*87
1427g
*78
*63
80
67
24
*1812
....
34*4 3478
♦105U 106l2 *105% 106*2
36
34*2 36
36*8
6*2
*4*2
♦412
612
135
135*2
136lg 136*4
16*4
$16*4
♦16*8 17
♦78
♦63
*23
106
*240
■240
101*2 •100 10112 10U2 101*2
48
47*4 47*4
47** 47*8
•117
119
118
11714 117*4
116
'116
110%
117
118
61
138
*9% 11
*29% 30
337g 34
30
♦29*8
47s
.
106
61
*136
61
138
10
101
250
40
4014
40
106*4 106*4 *106*2 106*4
4%
*3*2
3*8
35s
33
84
33*4 33*4
88%
81%
35%
93*4
41%
*30*4
3512
345s
24
1978
1212
3412
*3212
107
88%
80%
IOH4
♦4*4
478
*4*4
*2212
19
*12%
*100
*230
101
250
‘10J
‘230
*22i2
106
106
♦240
♦100
♦47
10%
82l4
Do pre*___
100
83,200 Amalgamated Copper...
200 Amer Agricultural Chem.
Do pret.............
101*2
38
"2”800 American Beet Sugar....
Do pref_.i..........
100
93*4 93*4
10*8 10*2 12,150 American Can
Do pref..
...
805s 8H4 30,595
3,600 American Car & Foundry
5434 55
Do
55
pref.
SH5 115
*64
1,250 American Cotton OH——
6412
Do pref
........
American Express
♦230
250
10 American Hide 6b Leather
S4*4
4*4
Do pref.............
100
23*2 23*2
200 American Ice Securities..
*18*2 19*4
100 American Linseed
*12*2 13
Do pref
200
343s 343s
2,650 American Locomotive...
40*4 40*4
Do pref
100
*106*2 107
*3
276 American Malt Corp—
4*2
Do pref
748
*33
34
*87
88
200 Amer Smelters Sec pref B
797g 8078 34,500 Amer Smelting* Refining
Do pref
105*8 106
1,700
245
100 American Snulf
245
Do pref
200
*100
102
*47
400 Amer Steel Found (new).
48
600 American Sugar Refining
117*4 118
Do pref
116
117
950
*44
*90
38
80
82I4
54*2 54*4
54U 5412
*113*2 115
‘113*2 115
64% 64*8
64*4 64*4
4%
*4%
10U
78
70*4
Jan
12*4 Feb
38
Feb
Nov23 j270 Jan
15 Jan
7*2 J*ly 27
27 Aug 5
54*4 Jan
90*4 Jan
65*8 J’ly 13
35
J'ly 26
4£% Oct 21
103
Jan 10
99% Apr s
24
J’ly 26
47% Jan 10
89 J’ly 27
95% J’ne 15
13% Jan ,3
67* J’neao
....
Highest
Lowest
Highest
245
Adams
Express—_____
Uls-Chalmers
—
34
695g
37*4
♦92
93*4
10*8 1078
94
*92
94
♦92
94
♦92
10
10
*32
34
70
45
310
245
*8*4
10
3714
3734
3712
38*2
37%
*31
69
♦44
*90
45
101
*44
*95
*100
*3858
38%
*8*4
10
3114
70
245
245
Range for Previous
Year (1909
Range Since January 1
100-share lots
STOCKS
NEW YORK STOCK
EXCHANGE
mdustrial£: Miscellaneous
245
250
■245
$250
248
♦247
1439
New York Stock Record—Concluded—Page 2
1910.]
..
375
160
120
...
..
.....
Kings Oo
Nassau
160
180
..
..
..
‘ People’s
...
Oo.
Wtmmsb’g
Queens
rights, d Now quoted dollars per
Cfl) are State bonks.
Sep
New York Stock Exchange—Bond Record, Friday,
Weekly and Yearly
Jan* 11909, the Exchange method at quoting bond* wot change**
and price* are
BONDS
If. Y. STOCK EXCHANGE
Wkkk Bmuxs Not 26
Price
U e*‘
Hid
jiUO*
oi
1'ne’lOf
....
....
192ff|
2d senss 4*a..„...*,..
Stoning loan 4s
...l‘J31J
Repub at On bafts exten .debt..
San Paulo (Brasil) trustfts 1919
ot
Mexico
Gold 4s
s
t g
atWH......J^XWA
K Y City—4*s
I960
4% Corporate Stock..... 1969
4% Corporate stock ....1958
Near 44s ................1957
.
.
,
Railroad
A uoama cant /see So By
Aiaba id ldl See At Coast Line
Albany A tousc oscDelAHuu
Allegheny Valley See Berni Hid
AUeg A West see Bair R <fc l
Ana Arbor 1st g 4a...... A1998
Aten *r A 9 Fe—Geu g 4s. 1996:
Registered.
.........1996
Adjustment g 4s......./tl995
Registered
A1905
totamued
Conv 4s issue of ly09...J9f\5
lopo
Conv 4s (issue of 1910). 199b
10-year oonv g os
loir
Debentures 4s Series J. 1912
Series K..,.
1913
Bast Okla Div 1st g 4s.. 1928
Short Bine 1st 4s g
195b
to Fe Pres A Pli 1st g oa. 1942
A tl Knox A N See LAM
Atlantic Coast 1st g 4S.M952
Ala Mid 1st gu gold 6s ..1928
Bruns<fe Wistgng4s..1938
Charles ASav 1st g 7s.. 1930
L A N coll g 4s
.01962
Sav PAW 1st gold 0s.. 1934
1st gold 5s............. 1934
il Bp Oca A G gn g 4B ..1918
Ultio A Dan v See South By
tin A N W See sou Pacilic
It A Ohlapriorlg3*g.l02&
;
;
•
‘
i
r
i
;
l
Registered
A1025
Gold 4s .................A1948
Registered ........... A1948
PittA J two 1st gold 6s... 1922
P Juu A M Dir 1st g 3 >s8l926
PLEA W Va Sys rof 4sl941
Sputhw DiV lstg 3 *8... 1926
Registered .......
.*1926
Con Ohio R 1st 0g4*s.. 1930
CL Lor A W oon 1st g 6s 1933
Mouon RiV 1st gu g 6s.. 191b
Ohio River RR 1st g 6s. 1936
General gold 6s
1937
Pitts Ciev A Toi 1st g 0s 1922
Pitts A West 1st g 4s... 1917
Start lai By 1st gug4*s1943 J-l>
Beech Creek Seen H‘&ii
Bellev A Car See Illinois Cent
Bkiyn A Montauk See Long 1
Bruns A West See Atl Coast L
Buffalo3 YA Erie see Erie
Buffalo R A P gen g 6s
1937
Consol 44s
...1967
;
Ail A West 1st g 4s gu..l99fe
94
90*
J
68!l
KoriOl
»4
Gen
92 4
/
07s
05 to £,
01A Hah 1st gn g 6s....1943
i Booh <& DHts 1st g da...1921
Consol 1st g 6s.
1922
Buff $ Suaq 1st ret g 4s.dl961
s
funding A imptAs.D'29
Registered.
Genemi gold 4 *s
♦97* 984
90* Sale
*904 Sale
lo3
eaie
98
J’ne’lO
90
90*
92
Jan *10
H
98
92
97
844
1074......
934......
128
92 4 Sale
1*24
1104......
95*......
......
924
*98* bai*e*
......
994
111*
88
92
Deseaturs &s.
*
91
1684
100*
Apr’IOj
■£!
94*
94
A
94*
Sep *09
127
112
J*ne*U9
96
J’ly'io
90*
984
3
l
Ohio A Lon Div g 6s....1021
iffiib A Mo
JUT Div 6S...1026
Chi® A P W 1st g 6s
1921
Dak A »t Sb g 9s........1916
Par A Bon assn g 0s
1924
LsOrosse A D 1st 6s....1919
95
974
90
98
WisA Minn Ding fls.. ..1021
Mil A No 1st cons 0«
1913
Extended <*s
1013
A
Ohio Aorthw eons 7s
1916
Extension
894
4a
87*
1986-1026
89
93
Registered^.. ...1986-1026
89
General gold 3*s
92*
....1997
.....
83
974 109*
96
99*
904
Oct *01
87* 884 87*
87*
Oi* bale
91
91*
90
' 90*
00
80
834
804 Apr *10 fir-* W4 094
984
103
Mar *10 ...>103
103
....... 112
109* Nov*10
>109*1134
101*
108* Feb *07
U2 Dec *09
mmnwyro
.
3
......
-•**
..V.M
.
Registered
>nmm
904
80
112 Hov*09
Ii04 Mar’04
984 Sep *09
100
Nov*04
• •••••
J-J
►;1 • mmwmm
SthageAAd see A Y C A ii
K la FAN
See B u R A is
Brancn By see Mo Pao
Cent of Ua RB 1st g 6a..pl945
F-A
Consol gold 6s...........1946 M-H
?
Registered
.....1945 M-N
; litpret income g 6s....pl945 Oct
..
2u prei income g 6s....pl945 Dot
8d pief income g 6s stamped ....
3d prex income g 6s....pl946 Get
3d prof income g 6s stamped. ....
J.J
j.j
M.K
f-a
F-A
103*
83
Sale
1034
,2
106
83
192 103
102
97* 98
101* 193 4 102
102
1
102
20
1014192*
....
F-A| ♦884 86
F-A
J -J
J-J
Bwm RyA LlstArefg4*s’51
Stamped guar 44a.
..1961 J-J
Dot United 1st con 0 4*8.1932 J-J
84
77
1004
70
bale
Sale
83*
77
84
7S
102*
81
"V
14
....
191* Aug* It
....
101*106
79* 87
1004104
90*
......
99
103
99*103
82*
80
76
35
85 4
82
102*102*
109* 102
Col A 0th at lat gu g
6a. 1993
Lex AvAPFlstgug 5* 1003
Third Ave RE oon gu 4s 2000
Cent Tr Coeertts fttmpd...
Third A TO Ry 1st g 6ft.. 1937
N Oil By A Lt gen 4*s ..1935
-it
874 96
74* Nov’lo
79
70
Oct ’90
77
76
68*
6
98*109
864 89*
18
87 4 88
984101
084 iu6”
08
1004
90
Nor’lo
1014 aiar’90
07* May* 10
074 00
1014 14 1004102*
97* 60 07 100
100-s Nov’10
1004102
84
Nov’lo
81
864
^
127
198*113
ud”ivr
65*
19
Oot’10
114
100
....
121
Oct ’10
86
126
84
87*
124*129*
Dec’on
J’ne’lO.... 190” i‘004
92
....
1034Oct'08....
87* 884 88
93
88
03
834
,
4
934 17
105*
107*
107
106*10741 107
1024104V 193 4 Oct'10
K*
^*
ISiiW:”:2 196*108*
I*
J-J
J -J
J-J
J-J
J-J
106
J-D
J-D
03*
00
10
o-F
#-A
99*
E-A
E-W
.....
87 4
102*103*
116* May’10
1064 Nov’10
105* Aog*10
103* Ang’10
117*
104*
J-J
ityLtH A P 1st g 6s *37
Paul City Cab oon g
ok. 1037
r§
J-D
M-S
d-s
J-J
•
«•»
J-J
J-J
M-N
J-J
A-O
M-N
•
*•••
Oet’iU
95
60
75
92* Got '10
02* 04
1024 102* 103 J’ne’lO.... 193 105*
98*
08* sale
98* 18 08 100*
J-J
60 Jfljf’VC
80
na Elec consol g 6s. 1062
82* Tn-Oity Ry ALtlste f 6sJB23
F-A
04* 06 V 06*
05*
1
93
96* u nderground ot Lon 6s...l92b
-Met toil 4 4s
..196e A-O
894 Sale
80*
8b* 2h5 77
83*
44*
BSP V 3rj-r oonv 6«.l911 M-N 100 4 Sale 1004
..^1933 J.J
4s
100 4 104
Income 6$
1048
'45-year 5s Series A..... iff 52 M-N 103* -sale 102*' 1004,
103*
ms
100
103* union Ei(Chic) lstg 6S..1946 A-O
InternetTraccoil tr 4s.; 104b J-J
67 4 Mar’ll
07
* 67* United Bra St L 1st g 48,1034 J-J
Manila Elec 1st A coll 6s.l058 vf-b
68
Mt-’"'1
United BRs San Frsf 48.1927 A-O
•No pr.ee Friday: latest thin week.
TlFlat. cDue Jan d Dne Aer e Due
May <7 Due J’ne hDue J 'ly fcDue Aug
....
09
USX St
196* 108
193*105*
1004
HI* 111
•♦••••
100
06*101
06*J’iy*iO
Nbt’iO....
03 > Apr’90
80* 88
....
110* toep’10
lll*Nov’U0
^10
106*
1034
106
106
1074 106* Nov’10
pnwnnn
126
100
......
117
......
89
,
SOT
b©p;io....
Jiy’98...,
Nor’10....
....
100
199
Aug’10
974
08* Feb’io
88*
80
07 4 J’iy’10
......
07* 07
Salts
•
944
*
"100
04* 00
08* 08*
ee1-
88
16
07*
04 4 tisai ’10
94
Deo’00
74
105
....
199
Nov’io
12*
I424h'fc0’92
1184 Nov’10.... 118*1184
1034 May’90
119*Nov’10 ....HI094 112
100*..
109*
07
100
100
116
106
....
117
♦ 109
uoSiTEi
....
1.06*Nov’10.... 106
....
1964 reb’iu
••••••
eeeee
119*118
00
00
044
02
07*
U44
....
May’ioi....'
044 044
Aug’U0....l
73*
74*3o0 66* *83*
76* May’10!.
t 76* SO*
96
Sale
03 4
04
04
i
04
03
06
1104111* 113 4Nov’10>....l 11141144
.
—.129 4 Mar*u3
1034
....■>
|1U8* Oct ’10 .... 106* 106
ibb"" XV” 194" ’ May’101 Illiui” ioi
107*1084 1984 Got *10 ....108
100
104
Feb’iO
110
1034104
123* 124*>126* Oct ’10 ...J 123
85
I 03
Deo’98 ....1
127*
Next Page.
BwayA 7th Av lfttogaa 1943
St Jos
04* 00
4 03
toep’10
113* *60’96
110
..—.
.1021 A-O
1933 M-N
1033 M-N
Street Hallway
Met St By gen eol tr g 5s.l997
Ref g 4s.,
—2002
97* 99
88*
’99
094
99*
86 * 384 88
38
80* ...... 88 Sop'10
09* 190* 90*
90*
106
108* Oct '90
00* 00* 09* Nov’10
••••••
• •••
on
aau
09*
J-J
J. J
J-J
mmmm
MISCELLANEOUS BONDS—Continaod
Railway
Brooklyn
Rap ’14 g 6s.....1946 A-O
4
l»t
86
100
91
74*1
84* 86
1
Street
1004
0u4 Nov’10
Sait
126
119
-w
MULSA West 1st g6s 1021 M-S
Ext A imp stand g 6s 1020 F-A
Ashland Div 1st g 0s..1025 M-8
Mich Div 1stg6s
1924 J-J
incomes
1911 M-N
Ill
116*
118*1164 Ohio Rook lsl A Pac 0a... 1917 J-J
1074109 106 Jiy'lo ...*tl06 109 4
Registered.
...1017 J-J
96
....
90 Aug’10 ...*| 96
General gold4a.
994
1088 J-J
108
103 3Ty*08
Registered.
....1988
J-J
1154118 116 J’ne’lO ....‘115 117
Reloading
g
4s
1934
A-O
1164
116* Sep *16 ....4110*110*
Coil trust Swfsa J 4s. ...1012 M-N
73
72 Mar’10 ....« 72
72
M ss....
1916 M-N
N is
1910 M-N
103 Sale 103
28 102*105*
O 4s
1917 M-N
100*1014 101*^ov’10 ....100* 1Q1*
P 4a
1918 M-N
100* May’07
Chic R 1 A Pao RR 4S..2U02 M-N
Registered......
2U02 M N
RI Atk A Louis 1st 4 *s 1034 M-S
tiurbas a—lstg 68.1034 A-o
Registered.
1034 A-O
CRif AN W 1st gu 68.1921 A-O
1114
109* Oct *10
109*113*
M A 8t L 1st gu g 7s..1027 J-D
107 toaic 196 4 107
17 10334 10a
Choc Ok A G gen g 6s .el010 J -J
h
113
Consol gold 5s
....1052 M-N
90
Sale
00
90* 22 82
91*
Keok A DesM lat os....1923 A-O
90
Sale
90
DO
2 84
90* Jhie tot D A MO see 1U cent
884 sals
884
884 19 76
83* JiUO tot LA Pitts seet'eunCo
88 4
834 sale
75
1
8b*
884
hue tot P M A O oon 0S...103U J -D
85
Sale
85
86 1
« 76
864
Cons 6s reduced to 34s.l03u J-D
85
l 80
84
85* Opt ’10
86
Nov’10
09
1034^
Registered
1913
Cayb A Shawn See 111 cent
Carolina Cent toertoeab Air L
IOI
00
73
09
J-J
.j»1987 M-F
Registered.
Sinking rand deb 6s
Registered.
••••
*99
81'
06* 06*
8i* 92
109*
M-S
fond 0S...1879-1929 A-O
——ered
1870-1029 A-O
Sinking fund 6s...l879-192» A-O
Registered.......1879-1928 A^O
Debenture 5a
1021 A-O
......
190
87* Nov»10
......
-
111
Max’10 ...112
91*
924
914 Oct *09
98
964
10041014
May’10.
100*
83* 84
1X0 4 1274
1211 •»
123*
13«*s I*
Jiy’10
d »«
11U41H4 110* Nov lo¬
rn May'00
j-J
A-O
M-N
M-N
General g s 4* oones B.«i»d9 J-J
25-yrdbbenS
1034 J-J
-----
89
1254
101* 101
07* ^alt
074
W-S
j
88
00
Generalg4» senes a..«1»89 J-J
RegfflteMd....
„.«18b0 G-J
V4* 94*
*924 *’*924 '58
mnmmna
1014
194
*08
Nov’10
192
1064
1124 112
1124
1194 114*
1124 Jan'lu
11241124
ioi 4 Bale* 191* 101* 35 09 1934
1914 J'ne’10
101*101*
*04* Halt"" 94 4 25 693 80 054
87
90* 88 4 Nov’10
89
85* 87
88
85* Nor’10
884
194
102*
104
4toep 19
104*
101
ife»
.j*
A-O
M-N
M-N
86*
191.3 M-N
1958M-S
_
103
High
•wmwmm *«•••«
ibo 4 NoV" Vo
100
09*1004 flOO
97
_
94
109
120
109*™«
General4s..
A-O
......
*974 *1121
M-S
Ran A bt.Josbonsoi 0s.. 1911
89
94* CU.10 A A Hirst A imp g 4a 1956
1st oonsol g Os....
1' 105
1934
18
General consol 1st 6s.... 1937
Registered^..,
1937
Clue A indO Ry 1st 6s.l030
Chicago A ffno see Erie
98* 98** Ohio Gt Western 1st 4S...1959
97
97* ouic in A DOfuSv rei bs...l947
92
94*
Refunding gold 6s
1947
107*109 4
LouiST N A A Oh Ist6s.l019
duo Ind A Sou 50-yr 4s..I960
92
06* umo MR a dtp term g 6s 1914
U2*
92*
109* 1074 J’ly'10
94
1U0
96
02
13
1084 108*
Ob* Jan *10
984 Feb’10
924 bale
109
63*
07*101
30
103
1004 Sale
74
It)
904
,.....*00*4 1004
io0* 3aie i064
Iowa Div swk fund 6s..l9l9
Sinking fund 4s
1010
Nobmaka Extension 4s. 1027
Registered.
1947
Southwestern Div 4s....1921
Joint bonds see Great Rorun
100
100*
101
112
4. j
»te=ss|j
....
Bur CRAW SetsCRlAP
i mn too latest 03
..1913
6s
1913
refund Conv g 4s. ...2092
Dk«juy istoou6s.1016.1041
Bk 4 GO A to oon gu
g 5s. 1041
Rklyn bn El lstg 4-68.1059
totamped guar 4-6s....l969
Rings Co El lstg 4s....1040
stamped guar 4s
1940
Nassau Elec gu g 4a
1061
A-O
?!!>!??
77
79
984 Sate
Sines
January I
....
A Wilks B Coal 6s.. 1912
K-N
HOST 4*«....j/1910 Q.M
B YA Long Rr
gen g 4s 1041 M-S
C«t Pacino
see so Pacino Oo
Cent Vermont 1st
gu g 4s.el92W q.f
Chas Aeav see Atl coast
Lins
Cbos A Ohio gold Os
al91i
904 09*
Ice* on the
Hangs
o
121*
12i*Nov’10.... 129*126
193
'n,“'T
107* 109* 198
197
199
1039 m-N
1992 M-8
RegiSterea..
....1992 M-8
100^, Sale 100* 1004] 941100 101*
Convertible 4 *s
1930 F-a
08* 99
ou61H 9« 109*
98*
99
aanuy 1st «e
104s j.D
934 99
Stf
Kor’10
Coal Bi* By lat gu 4s ..194&
964 1004
34)
100‘s Sale 1004 ioe^»
cmg Vaiioy 1st g 66....104O j.j
102
3
Oct *10
Potts Crook Br 1st 4s..l04«
j.j
109*100v 0* 1009
6ft 06*
Ba a inv 1st oon
g 4S..1980 j.j
102 sale 100
102 n
2d console is
10»*
....1989 J.j
984
98*1
93> 93
Wanp topr Val 1st g6s.. 1941 M-S
GTesoibrittr Ry 1st gu g 4s '49 M-N
10tV_10*4
101*105*
iv34i,iy>io
1084103* Clue A Ait RB ref g 3s... 1949 A-O
90
Got *10
96*s 97
94* 96
MaiWoop t«* Hen 34S... 1950 J ■J
♦87
88
88
88
87
00*
Registered.
....i960 J ■J
39
41
Oct
41
*10
40
60
OhioBuriavf—DonvD4s 1022 F-A
Illinois Div 34s
1949 J.J
pr
8
‘de
“——res.
;_.al0«7
_A Imp gu 6s.. 1921
Mud R fra gu g 6» 1920
Led
...
.
Stamped
92S
40
4
or
Last sale
no
108
ifo*
6s deferred Browi
»wn Bros efts.
Conv g 4a..
97
07*
Nee 25
_
New 44a
So Carotins 4 as 20-40
1033
Tenn new settlement 3s.. 1913
Virginia fund dept 2-8*... 1991
06* 97
95*
B84 *0*
2! 88* 92*
13-1914104
,1196
074
Bale 102
f 90V 971
7 <« Nov’ 10
\e*e are
Ckate and City Securities
94
89
102
9
1102
t
OS of 1899
.........lbl?
4*** Corporate Stock ..1*J57
44% assessmt bonds.... 1917
4% Corporate stock....1067
N Y State—Canal Inapt 48.1030
*
29
fa
Week/*
Range
105f
geu*rgold
....
Foreign Uorernment
^rgen tone—Internal 6 s of 1009 M-S * «7* 98
imperial Japanese Goveram't
U b
1004 MX*
IOI* 199*
1101*108
19*4109*
IVY’lf’lO
i*o<*no ....114*1164
Nov’tO
1144 116*
* Ang’10
100*100*
—~T ‘
rs-rfm
UM
AT
iriaa*
Centex Umn.
Hid
tASJcLow
Miy A Mo Low
Chart biv pus mon g 4s.
19511J-D
86
......
00* Sep '90
M*« A Nor Div 1st g
6#.1940 J-J 103*
194* J'ne 08
MidGa* AU Div6s....1947 j-i 103*...... 116
Jfiiov'96
Moteiie lRv lstg 6s
19*6 J-J
107
111)
Jan '10
110
......
Jen BRA Rotuaeoi
g 6s
102
107
192
M-N
102*
Not’10
oentot N 3
68.1987 j.j 1.12*123* 122*Not’IO
120
io2
a
V 8 Pan CanlO-80 yr 2s,*108ti
Sterling loan 4**.
January i
....
101* Nov’10
£ 89soon small bonds..*1018
■«
Jf. Y. STOCK EXCHANGE
Will Rwonra Nov 26 *
Since
AtteLow
PtfLj Jfo Low High
Ot 1100* O<*r10
1004 101*
S 111 SSLS5fnmm9aftUs
u 8 3e
oonpan....””””fcl9i8
interest”—exsepi /or inootne and defaulted bonds*
.BUNCH
f
Bsn&
SS?S|
£82* oonsol regiatercd.dll
f
Weekfr
now all—m and
76* 77
78
Nov’10
Oct’10
1024
Nov’10
08*100
984
094
07
98* 034
084
61 * Oct ’10
*60* side" 60* 614
107
108
107 Nov’10
85* 84* Oct’10
104
09
108
U8
-
vt.
37
-
«»t
‘B
•••MM
»§•♦♦•
84
Oct ’08
......
81*
80
Aug’10
67* -i
a
67* 70
oDue Oct
67*
,
p
Due Nov
40
82*
64
08*102 4
2
3
Nov’08
107* Deb *09
96* 98* 084 Nov’lo
95
09* 08 Apr’00
80*
804
894
Sale
374
374
874
•••
74*
48
102
ioi
«
96
192
06* 00
67 4
56
904
06
90
68*
106*108*
84* 87
83” "*894
31*
40
Option Sale
NdY. 26
/TfW
Range
9XS
smes
BONDS
Iff. Y. STOCK EXCHANGE
Vm ending Nor 25 d£»‘.
BONDS
M. Y.
Wick BKDtNd Mor 25
Jarmory l
Brio A Pitta
:
109%-Ul 108% J’ly *10
91*4 91% 91%
0B
4
O Find A Ft W 1st in 4«f.*23 M*«
Oln IA w 1st irair 4S.1969 4-4
Ind Deo A W 1st g 6s...1935 J-J
lit guar gold 5s........1035 J-#
88
Oct *00
Oot’lO
105
86%
86% Oct *10
......
• •••
:
93%
Geonpa Paoitlo
96%
98
*►!>
1J-N
K6^DlfOAtaMM#«v»#»sl090
4a..1940 *•*
90%
WW Yalhif let* 4s...1940 J-J
106%
Cl St LAC Oonsoi 6s..1900 M»Ki
96
8»r A OcS Dir 1st g
9*
euasolgoidO*. 1934
Registered...........1984
lad Bt A W 1st pmt 4*. 1940
O rnd A W 1st pf 6s...«il9$8
ii
?
Dec *09
^7% *»is
06
A«g*10
ooit'io
oS
108
99% Dec*99
.
>se»i
1*5% 119
96
....BIOS
‘So%-ir WT ORn
119
60
69
70% Noy*10
95
85 %| 95%
4s...1999 F-A
97
97% Sals
Roland A ext 4 %s......1933 M-N
113
112%
Ft W A Don O lit# 9s.. 1921,4*D
Colum A Greeny ace bo Kr
Ooi A Hock Vsl sw Hook Vat
Col A Tol see Hook Vai
Col Conn A Term So# MAW,
Conn A Pas Rivs 1st g 4S.10481 A-O
Cuba BK 1st 50-yr 6 g.... 1952 J-J
95%
97%
116
Witt A 8 F ist goldOS 1938
Greenbrier By Rea ches A O
Gulf A al 1st rot A tg 5s 51992
94%
67
7S.1917|M*«
108%...
111%...
107
™
99
85
117
1917|M*8
97
J*ly*09
88% 07
84
lOU
100
87
.
149
102
101*4 Koy’10
90%
9i%
„
M-N
4
4
4-4
F-A
A
Senes.B.1963 A
Bui N l’A Erie 1st7s.. 191b 4-D
Chic A Rfie 1st gold 6s.. 1982 M-N
Cloy <* Mahon Vsl g 6s.l93a 4
Long Dock Consol g 9s..1935 A-O
do
Coal A KR 1st cur gu 9».1922 O-M
Dock A Imp 1st our da.. 1913. 4
N l a Green l gu g 6s.l94d m-r
M k &»US A W 1st rot 68.1937 4
2d gold 4%a
1937 F
Uhnerai gold 5a........l949 F
Xerunuallst gold OS. ..1943 M-N
_
Regis $5,999 each...1943 M-N
WllkA E& 1st gug 68.1942 4
gugds..l920 4-4
_
to
......
83
.
74
94
80p*10
Mov’iO
Oot*10
74
87%
108% 110
108% Oct *10
106% MaTda...
106
106% 109%
107 »a Oot’lO
106% 107%
108%
-—
118% 120
100%.—
193%
199%
193%
— -•
:::::: iif%
*!
74% Bale
86%
87
7e«w8ale
68
70
li»
......
111%
111%
108%
120
100
81
Kan
108% 108%
Koy’10
J’no*lu
118% 122%
100 100
164% 106%
103
103%
106% 106%
09%
lib
90%
118
80% 87 %
Ror*09
>•••••
74%
74% 46 67
85%Fob*07
83%
87
87
64
75%
76
69
70
30 66
.113%
113% Mario
alio
111% 111%
121
Deo *08
if
•••
76%
89
0108
93
.
110%
VoT% M^i*ol:*.::ioi5; roT%
99
oot *00.».."
114
106
••••■
e..
g
06
117%MaYlO
06% Oot ’10
110 oot *10
Opal Co latgu g 6a.1933; J-J
Leh ANY 1st guar g 4s..1946 M.-.S
1945'm-s
1014'A-O
^Gpid guar 5a..
JSI14A-0
Leh A Hud B Em Ceutot N J
98
108
>
1
4*iy*08
70
05
6 107
13
84
73%
NoYlO
109%
106% 111
100
MaTlO
106%
......
106
Kov’lO
105
bale 1106
,
106
Nov’10
U3%lna%-Vu8%l
...109 % Oct *00
106%
03%
!108 Noy*09|
1 03% MaTlO
102
100
101%F6b*10
'101%bep*08
•
*00% i*03
10
101
98
106% 107%
108% 112
106% 108%
....
2 105
01
04
I
86
I
3
03%
96
i’oT% i*o‘i%
....
110%
112%
83
*87%
07
90% OCt *06
93% Mar’lo
105
96% 98
112% 115%
06 100
01% 06% 04 Oct *10
88%
07% 08% 88%
97
9$
3 108% U2%
navi^ot’io
••••
04%
71% 74
Oot *00
110% 109%
86
102% 106%
69
77%
94%
73%
98
110%
106%112
103
112%
OOt *10
04% 04%.
.
Ferty gold4%a..........1022 M-b
Gold4s.*.................1032 4-D
Duih6d gold4a..
..1040M-8
Debenture gold5a.......1934'J-D
117% 117%
96% 80
114%119
....
96 Msy*10
107% 107%
iio May*10
....
ill
•»••••
90
88
113
*89**
118 118
Mar* 10
Old *00
97%Mar*io.... 97%’97%
116
08
&8.1941A-0
88%
•♦••••
8*6” *98**
...-
107 «1108% Mario
Leh A Wukeah Em Cent of K J
Leroy A oanojr Var mee Uo p
LOhg Dock ~ ttee Erie
Long lst*c^-lstoon g oe.*1031 U-J
1st oonsoi gold 4a
A1031 Q-J
General gold 4a..........1938 J-D
*77% ‘*77%
110% 113
110
06
87% 88%
Oct’10
08
v
Registered......
Etc A M 1st pf 6s
96
*80*’ Fsb’iO.
101% Oot *00
100 Nor’OO
90% 101% 101
Lehigh Vsl (Pa) cons g 4a.2003 M-N
Ry 1st gu
97% 100%
NoV’lO
63
R0msterod..........,....i94rA-O
73%
70
73% Sals
.1960 A-O
i'.j
Leh
113%
ii*
90
04
4-D
Kook A pos Mo EM CR1AP
Knoxville A Ohio Em So Ry
| akS’ Erie A W 1st g 6a.. 1937
Ai 2d gold 6a..
1041
Mortli Ohio 1st gu k as..1945 A-O
LBhoAMiohB See M Y Cent!
Leh ValM Ylstgug4%s.l04O J-J
1940 J-J
KegiaterOd...
Leu V Ter
0*6*’ *00%
NoT’10
.112
102% 103 103
ld§
16
16%
14% 16
105% 103% 103% Nov’10
RefA lmpt 6s Apr 1950.....J A-O
Kansas City Tens! 1st 4s I960 4 *4
Aoutuoky Vent see L A M
87
83
}II%
124% 123%MO»*10 ;:::i2o** m
104
109%U4 Apr’10 ....> 114 114
103% Oct *08
99% 103%
00% Not *10
lK5i05*
104%
99
L93
101
101
101*1
1109% 100% Deo *06
89 J’ne’lO
87
110%
i 10% 8414 110
95
107
*
City tiou 1st gakt 3S..1960 A-O
Rejpatered.,
*99** io<J%
J’ne*o9
Apr*09
87% May* 10...
123 May*99
77% Mar’lo
79% Deo *08
.....
......
02
lot)
70
James F A dear 1st 4s...i960
at A AG.4$ EM ARAM a
an A Micli EM Tol A O O
K UFtB A M See St h ASF
BOAilBAfi EM tit LA S
Ran O A Paolllo See ifjt A
108%
104% Oct *10
103
Mario
106% Jan’10
99% Fob’10
118 uct’lO
b5%Koy*10
97%
87** 1II«
97%
91
74
ill
90
96
99
05%.....
J-4
,.a909jM-*
2d_gold 6a...
Sep *04
110
04
69% 91
J’iy’09,
99% Not* 10.
gu
09
105%
90
97% 07% 97%KoyiO
4S..1961
ind fU A .la 1st g 4a......1960
Int A Great Nor Istg6s..l919
86
104
90% Kov’10
94 tiep *09
93% May*09,
►••••#
CltiSNifbA M O g 6S...1061 4-D 112
Begistsre<i.............l96l
..1961 4.D>
4-D112
112
G^I3%s
lftsi 4-D
4-DS
.....1951
*
Mempfe Diy 1st g4s...l96l 4-D
*87% *94%
84% Oct *10
97 4au *U2
84%
94%
or **05%
4*ne^l0
107% Apr *07
.....
04
105
120
87
Oot’lO
104
99%!
4-4
ini .19*1
1961 4-4
4-4
1st g
99%
114%
••••*
00% sob *09
87
Dir 1st gk%s...1961
Western Iobm
m
90% 94%
7$ Doc *09
85 Mar*0S
90%
00%
‘OO** *92
94
89
72
100
20
Fob *08
98
79
......
Rogistered.........M....l987 A-Oi
Kim Oort A No EMLehANY
*
Erie 1st oonsoi gold 7s....1930 M-S
MY A Erie 1st ext g 4s 1947
2d ext gold Os
1919 M-S
8d ext gold4%s
.1928 M-S
4th ext gold os.
1929 A-O
5th ext gold 4s.
1928 4 -D
KYLE AW 1st g td 78.1929 M-8
Erie ist con g 4s prior..1999 4 -4
101
w-gfc>M..........
Registered..
92% 97%
103% 104%
.
UtehOentlstgugts al917 A-O
2d fll. .n......»»1916 4-4
Dot Short Line see Mor Pae
>*w
21
07%
123% 130%
94
94%
99% 1021 104% Mar* lu
Bale
DM MM A Ft D EMMAtitL
DM Mat un By 1st g 5sM1917 M-N
Del A Maok 1st lien g 4S.1896 4-D
Gold 4a.
1996 4-D
Dot So—O S DlT 1st g 48.1941 M-S
Dai A Iron Range 1st 6s..1987 A-O
,
..1962 A-O
GoE3%c.
•*:»•••
*110** iY3%
95%May*10
92
■••••a
4-D lOl
91
F-A
J~J
a
93
Kegistsred..M.........1961 4-4
06% 100%
114%
127 Mor’19
130 V x *7*06
112% Koy’10
••••••
Y-8
96% 10 a
100 103
82
SSM
99%
113
125
99% 104
••••••
06
Registered.
1963
OadroBxidgogote 4s..«.1960
LouisrDlrATwm g8 %s.l963 4-4
Middle Diyrscbs
1021 F-A 102
Omaha Dir lag 3S.....1961 F-A
Bt Louis DirAtsrm g 3s. 1961 4-4
118%
110%
114%
•7
87 %
1961
gold 4s
•
.
1st ref 4s....
U96ftM-ri
L N O A Tex gold 4s ...1953 M-N
li*25**i20%
Oct*W
Attg*0l
120
94% 06%
98 100
126% 128%
_
.(116 J’ne*09
Registered.........—19621 A-O
07% 101
123% Sop *le
122%
Bale
4
106
94% 974
HVll
Sep’10
99% Jan *10
laiviU*
4-4
4-J
:i»5i
It
3pll%114%
113*“
99
.
..1961
1st geld 3%s.............1961
103% 111%
99
99
102% Feb *03
05%
95%
•••••
Y5%.^..
ouaatonie flMM YM HAH
81%
,
07% Hook YalIstoonsolg4%s.l990 4-4
...1999 4- 4
RegURored.
OoiA H V 1st oxt g 4a..1948 A-O
Ool A TS 1st Ok 4s .....1965 F-A
93
11$% 2707*16
[106 Dot *10
120
118
94
Guaranteed
.1940 4-4
Bio Hr West 1st g 4s
1989 4-4
Mgeand col trust 4SA.1949 A-O
tty A l uu 1st oon
..
UauAStJo EMU BAG
65
-
108% Oct'10
111% Ul%
127 4*as*06
94 Sep *0*
98
98% 08 %_ 98 %i
.1916] J-D 109% 102
101%Koy*10
98% 99% 98%
98%
93% 94% 93%
93%
1st lien equip g 4%s ....1932 4
1st AreC 4e
1948 «•*»
Alb A Mas oonr 3 %s..... 1940 A-0
Reas A 8arstosa 1st 7 s. 1911M8
Dsl B1t RR Bridge Am Pa RB
Deny A R Gr 1st oon g 4S.1986 4*4
Ooasoi gold 4*as.........1989 4-4
Registered...........1999
1st oonsoi gen lien g 4sl99t>
Registered...........1999
Penn ooll tr g 4s
1961
50-year cony 4» A ....1953
96% 99
4-D
Extended 1st g3%s.....l961
.
F-A
M-N
Warren 1st ref gag 8 %*.2000 F* A
.
Aug*10
SOp *10
•••••a
A-
14 94%
1 111% 114
^Registered.
Uonstrootion 6e.......1023
Term A improve4s....1998
Elgin 4 Ol A East 1st
101**102’*;
J *110*08
JSS2KI
..1887 4-D
BMtnnNorDly 1st9 4sl94S
Hiaa Union lstg&..l$H2
If sal C latch g 5s....1937
119
43
Mayr10
100
.
iMSo&y
g 5s. 1941
$4
’
,
tin
1 Registered.
.1915' J*D 86
9
1st ref gu g3 %»-.-—-20w J-0
U5% 11
N Y Look AW 1st 6S...1021* J-J
.
gold 6a
Houat RAW Tex Em 80 Pac
HoostAToxCen EmBoPsoOo
I lllnois UOntzal 1st g 4S..1901
Registered....
Improvement gold &S...1938
1st A refunding 6s
1955
Rio Or 4 ane 1st gu g 6s. 1839
ELoGr So 1st gold 4s. ..1940
87
86
Redmeedtogold
bmUMAMP
10-yr oonr deb 4e
Apt*05
A-O
K6jp8t6ro(!L*«»««.#9.eI9o8 4*4
98
108
69
Koy*3
58% 60
Colorado A Son 1st g
Registered.
Dee *09
114
95
£• J 95% Sals
4S....19331-4 WiW
Registered
ASg’lO
Q-4
1st mo 4s...1940 **0
lnobtne4«..............1990 Apr
OlerA Marietta M«PeoiKSj
dor A fins See Pons Oo
J
ool Mfcttaad 1st g 4s......1947*4 *4
Del A Hud 1st Pa Bis
115
»?j388
107%
mm"im 196% 106% *’i
108% J’no*o0
4%sl9331-4
97%Mor’10
9f%i00%
KousiilSpiidOulSt J*S *¥7^*08% 100** out *06,
1st oonsoi
•♦•fesUaei—
124%
.
••.»«•
101% 101% Not’10
101
3MSo By
Bt Paul U A Maa
105% 105%
96% 98%
■
4-4
l/aQs»AWsoo 6nM K AT
Dal Lack A Western—
Moms A Essex 1st 7s...1914'M-N
1st oonsoi guar 7a.....1915'4 *D
Since
January 4
M%gh So Low Mtgk
Ask Loss
Registered.*............1921 Q-J
*90* *95
A*MAM*
67%
94%
95%
89%
4*4.
A-O
Peo A East
| tak A St So
90
...
Oipt/87,
165%.
♦
90% 96%
“•y®
81
96
i«%
96
T?
CmSACtoon 1st g 6s. .1028 4-4
O C O AI «oosoi 7s.. ....1914 #-D
Cousoistakfund7s....1914 J-®
§5rf Kor*lO
Sals
92
g4a.. 1000
General
Range
Last stale
A-O
oils VG A Nog Fes So PsoCo
Hour A OkWMst RM MY Cent
Grand RapA ind mpFmsBB
r*s PtTenn RMStLSW,
Gt M«r—OBA Q00U tr 4S1921
»4%Aug»99
94%
92"
goM 4s.....
Week's
St mge or
GoorgaaAAia 8MS0aALine
Ga oar A Mor AMSaaALmo
.
H%wtared
JV<M
Frida*
Now SB
11,0
J -J
108
.
1st
.
JNOA Jhhiun 8wSSAAirUne
,
Fort BtO D Co 1st g4%e. 1941
Ft W A Bio Gr let g 4fc£l928 »'* J
86
87% I taijisrASA bmSoPScOs . ^
'
HA Hof18821st 5e. 1913 A-O
101% 107
101
...... •.•a*!** *•*'
......
Mt YORldB 1st gold AS..1923
{108% 112
-
r#
Istfenecat gold 5e......i942 A-O
11% 114%
EMOOOAStLj
OlnSA0 EmCOG StL
|
Oiesrtteid A listr AM B R A PJ
St L Dtv 1st Ool tr
/SeePsnnCo
Brans A Y H 1st mbs 6s. 1921
102
Gi»t LAO
STOOft
Sid
Ohio 81F M A Q*HLoni
Oh St I* A Minn 1st r«* |01f M-H
Mof Wisconsin let 6a...10S0 4-Jst p a s city let g
a«o
Ohio 4k West In® *#n g SS ff1039 Q-M
Oonsoi 60-year 4a.
.1952 J.
OhieAWMieh EMPereMSrq;
UhooOAGulf aSCBIAF i
1431
Record—Continued—Page 2
New York Bond
1910.1
100%
maammm
-
!104% Deo’Otf
96
03%
■ ••••
• • •
BU80ELUKE0V3 BON DB—Continued on Mess Page*
Gas ami Electrlo Light
Quanta G L OO 1st g 5s... 1947 J-D
rt,k»yu U Gas ISt sen g 5s. 1946 M-N,
bdaaiQ Gas l»t g 6a.... 1947 A-O
JolnmbuaGaa 1st c 5s.... 1832 J-J
uetreiccdy uass 6s......l9aa 2-J
DOt Gas Uoconlstg 6a„
F-A
d|
J-D
df
U
1097 A-O
.Ed Hi JU Jtkn IStOgn,
IAC Gas Let Bt L 1st g 6a.al91«jQ-F
Kefa&d eit lit k5»-...-10«4 A O
102
dwwwam
......
io«;
100%
101
......
105
^60% 67
Ko3”i*oT%
;or%ib5%
1
06% 80]
OC1
JOb
jrnmwowm ••••••
98.
101
102%
looSiuf7.
liWli
10Y%
102%
97 Mar* 10
102 *102
'
J
Oof*l0
Ilf
niiisns-iw:
97
in.
102
110%115
30 iOO
86% N oY 10.
102% 102% 13
101 KOV’10
,01 Apr*l(t
M-dwadkeOGaS Llatia.. 10^;
feVratk Uod Gas jg 6s... 1948
*A« prloe Friday- latest bid and asked this week,
?:S
6(1105 _107%
106% 106% 106% 106%
66
6o%sep*io
100
100
••••*•
•
a
Due Jaa
»
km
1 im
6 Due Feb
Gas and Electric Light
M Y G B I»B A P g 6s... 1948 J-D
Purchase money g 4s... 1049 F-A
Ed Mlit oeiil N6S..1993 Hr4
N
101% $ais 101% 102
84
84% sale
81%
110% lTt% Uo% oct 10
100% loov Mar’io
„
YA(JE1 LAP 1st Cong5al03o
Con G CoofGb
1stgu g $s. *36
Xpd Mat Gsar AOif 30-yr 6S *86
*».•••
at g
02% Sale
110%
}:i
100% 102
......
100
102
d Dae Apr
162
104%
91,
M-N}
M-N
92%
100, 100%
6s. *51 J-D
1st :6a..1048
thh
eaaoiu
j-d
Unidu EiecLAT."
Westchester
......
fa
F-A
Trehtod G A Ei
Z-m
......
N T A Rich Gas; 1st g fta.1021 M-N
Pttmtto G A EleC CO .Cat G A E
uorp unifying A ref 5s 1937
peo gss a c 1st oon g 6a. 1913
.1047 N-8
Refanmngg^d^s
CttG-LACkelst gu g 6a 1037
9
21
M-81
[58.1932
'
«Due May EDas>’ly
97
101
08;
......
icfii
102
07%J*iy*oy
92%
02%
••••••
8
fp
101% oot *10
?01
90
Mki’10
00% Noy'10
98 Ang lo
110 Aimr*05
0$ Oct/lC f *0
102% Nor’lC Iwpe.
ff
a
iA
k Dae Aug q Dae Deo 4 Option bale
1432
New York Bond
BONUS
N. Y. STOCK EXCHANGE
Wkkk Ending Nov 25
Price
Friday
Nov US
Si
55
Week?*
Bondt Sold
Range or
Last Sale
I
Long Island—(Con)
Guar ret gold 4e
1949
Bklyn «fc Mont 1st g 6s..1911
1st 5s
3911
N Y BAM B 1st con
g5a 193b
N Y A R B 1st g 68
1927
Nor Sh B let con g gu5a ol932
Louisiana A Ark 1st g 68.1927
Lotusv A Nashv gen g 6s.l93o
Gold 6a
1937
Unified gold 4s.
1940
Registered
1940
Sink fund gold 6s
1910
Coll trust gold 6s
...1931
E H A Nash 1st g 6s....1919
L Cin A Lex gold 4 *38. ..1931
NOAM 1st gold 6s....1930
N O A M 2d gold 6s
1930
M-S;
M-S
M-S
A-O
M-S
Bui
96
101V Deo’08
llOVNov
106
Apr'07
103
101
101
♦06
3*8
109
97
115 V 116 V
113
Sale
08 V
09
A-O
M-N
J-D
M-N
High,
04V 100
mmmm
Nov’Otf
Nov*
Oot *10
115
106
Pens A Ati 1st gu g 6s..1921 F-A 110V
S A N Ala con gu g 5S..1936 F-A 109 V 114
L A Jeff Bdge Co gu g 4s..1946 M-S1
94
L N A A Oh See C 1 A L
•
•••
_
Oct
124
Mar'10
118 V Nov’10
105 *jNoV10
113
Sep
71
....
•
444
•
•
*
107
«
93 V Sep'10
110
J*iy 06
110
Jan'09
103
106
124
125V
118 V 118 V
105 V 110V
113
114
•••
06V
’•••••
.„i
94V
Sep ’10
90V oct '10
94V
•
105 V
02
106V H2V
110 V UO V
.*•
•
07 V
80 V
....
Nov'10
Oct '10
"•*•••
94V
102
•••
.4.
.
lUVNov’10
94
~9l
....
102
110V Oct *lo
110
111V 115
•
May’09
110
116*4
112V 114
19 96V100V
97*4 97*4
104VNo’s
J-J
117V
Pensacola Div gold6s... 1920 M-S 105V HI
St L Dir 1st gold 6s.....1921 M-S
113 *s ....
2d gold 8s
68
...1980 M-S
▲tl Knox A Cin div 4s.. 1965 M-N
92 V
Ati Knox A Nor 1st g 6sl946 J-O
101V
Hender Edge 1st a f g 6s. 1981 M-S 103
94V 96
Kentucky Cent gold 4s.. 1987 J-J
L A N A M A M 1st g 4*281946 M-S 102
LA N-South M joint 48.1962 J-Jj
95
N Fla A 8 1st gu g 6s...1937 F-A 107 V 112V
N AC Bdge gen gu g 4 *281946
J-J| 98
....
112 V
....
Oct '1
99
»7*« Nov'10
_00 V Deo
107 vsep’io
108
112
104
121
J-J
N. Y. STOCK EXCHANGE
Were Ending Nov 26
.
J -D
M-N,
J-Ji
J-J
BONOS
Since
Low
•% •
•
109 V HI
88 V 02
Jlyl ahon Coal See L 8 A M 8
w
[Yol.
LXXXXl.
^3
Range
January 1
1
High No
Ath Lott
96V
Record—Continued—Page
ge 3
•»
Price
Week?*
lYiday
Range
Nov 25
—| vwny
Mich Cent coll
g 3 Vs....1998 F-A
Registered
1908 F-A
Beech Creek 1st gu
g 4s.l936 J-J
Registered
1936 J-J
2d gu gold
5s...
1936 J-J
Beech Cr Ext 1st g 3 Vs 61951 A-O
Cart A Ad 1st gug
4s...1981 J-O
Gouv A Os we 1st gu
g 6s 1942 J-D
Moh A Mai 1st gu g 4S..1991 M-S
N J JuncR gu 1st
4s... 1986 F-A
N Y A Harlem
g 3 Vs.-.2000 M-N
NY* North 1st g 5s...1927 A-O
N Y A Pu 1st con
gug 4s 1993 A-O
Nor * Mont lstgu
g 68.1916 AO
Pine Creek
reg guar 68.1932 J-D
R W A Ooon lstext5s.A1922 A-O
Oswe * R 2d gu
g 6s...el915 F-A
R W A O T R 1st gu
g 68.1918 M-N
Rutland 1st oon g 4 Vs.. 1941 J-J
OgALCham 1st gu 4s gl948 J.J
Rut-Canad 1st gu g 4s. 1949 J-J
St Law * A dir 1st
g 5s. 1996 J-J
2d gold 6s
...1996 A-O
Utioa * BLk Riy gug 4s. 1922 J-J
Lake Shore gold 3 Vs....1997 J-D
Registered
1997 J-D
Debenture g 4s
1928 M-S
26-year g 4s
1931 M-N
Ka A A G R 1st
gu o 6s. 1938 J-J
Mahon Cl RR 1st 6s.. 1934 J-J
Pitts * L Erie 2d g 6s.ol92« A-O
Pitts MoK * Y 1st gu 68.1932 J-J
2d guar 6s
1934 J-J
McKees* B V 1st g 6s 1918 J-J
Mich Cent 6s
.1931 M-S
Bid
Rang*
or
ASK
80
Low
January 1
JJioA No Low
79V
4 78
78V
JJiffh
82 V
79V 79V
97
08*4
98V 98V
79 V Aug’10
98 Oot '10
98 V
98V
106 V
84 V
Since
i
Last Sale
98V
98V
6
97 V Apr’09
98 V J'ne'lO
106
Ocl '02
93
Aug’10
108
Oct '09
08 V 96 V
95 V
96T«
ibeviidv
05
82 V
87
......
......
110
99 V
93
03 V
05 V
98 V
13lV Jan ’09
107 'Nov’10
107
JaD '08
J’ue’iO
iib
104
104
104 V 106
104
103
1
98 V
102 V Feb'10
84
Oct’10
92
Jue’09
115
J’ue’09
125
l?0b’O8
100
Nov’iO
90
Nov’ 1 u
1O1V102V
80V
100
88
00*4
88V 89V 88 V Nov’10
93 V Sale
92 V
93 V
03
Sale
02V
93
ilov
100
114
Oct '07
109
100
100
Deo’09
122 V
130 V Jan’00
91V
i(>2
100
00
88
02
92
•
63
27
02 V
92
05*4
05*4
120
07
6
A-O
97V 97
97V
93V 98V
107
1990 A-O
104
Apr *06
109
116
i 10 VOct’id
08 V 08
Stmpd tax exempt.. 1990 A-O
liov
08V 20 94 V 99 V
Registered
1931 Q-M 108 V
110
j'ue’06
McK’pt A B V BeeN Y Cent
4s
07
J-J
08
liex Cent cons g 4s
1940
V 00
Jan '10
09 V100
99
1911 J-J
99V
99V 86 06*4 99V
99
03 V 97
Registered
1940 J-J
1st cons ino g 3s
98 Dec’09
al939 J’ly
31V Nay’ lo
27V 31V
J L * S 1st g 3 Vs
M-8
2d cons mo g 8s trust roots..
1961
90
J’neob
26 V A*
1st g 3 Vs
85
Mex Internat1st con g 4s. 1977 M-S
1962 M-N
88 V 87
Apr’10
77
Mi
87
00
76
77
20-year deb 4s
82
1929 A-O
90
01*4 Nov’10
Stamped guaranteed. ...1977 M-S
79
N«
80
02 V
79
79
Bat
C
*
Slur
1st
J-D
liex North1st gold 6s....1910 J-D
gu g 3s. 1989
100
Mi
100
100
N Y Chic* St L 1st
Mioh Cent See N Y Cent
g4s 1037 A-O 100
100*4 09 V Nov’10
07 V 100 V
Registered
1937 A-O
Mid ot N J
98*4
iOO
See Erie
iMje’00
Debentures 4s
Mil LB AW See ChloANW
1931 M-N
01
01V Oot’10
90
92
West Shore 1st4s
100 V Sale
Mil A North See Ch M A St P
gu...2361 J-J
100V 10IV 44 09 V 102 V
Registered.....
99 \
Minn A St L 1st gold 7S..1927 J-D 131V-..-. 132
2361 J-J
1 131
100V
132
100V
96
27
V 100 V
132
NY* Green w Lake see Erie
Pacific Ex 1st gold 6s...1921 A-O 110
NY* Har See NYC* Huo
South West Ex 1st g 7&.1910 J-D
N Y Lack* W SeeD L*
100v101
W
1st oonsol gold 6s........1934 M-N 107 V U>7V
102 V 109
N Y L E * W See Erie
1st and refund gold 4S..1949 M-S
74
67V
81V
NY*
Long Br See Centof N J
Des M A Ft D 1st gu 4s...’36 J-J *86 V
87
01*4 N Y N JA * M—Conv 68..1948 J-J 134 Sale 134
Minn A St L gu See B C R A N
134V 15 130*4 135 V
Conv deben 8 Vs
M StP A S S M oon
ly&6 J-J
100*4 Sale 100*4
1 06 V100
96V 97V
loov 30 06*4 103 V
g 4 int gu’38 J-J
Housatonio R con g 6s..l937 M-N 112 121
M S S M A A 1st g 4 int gu 1926 J-J
112 V Oot ’10
112 V116
08 V 98 V
NH * Derby oon
Minn Un See St P M AM
oy 68.1918 M-N 100 V
107
Aug’09
NY* North See N Y C * H
Mo Kan A Tex 1st g 4S...1990 J-D
97 V
07 V
96 V100
N Y O * W ref
2d gold 4s
lstg 4s..yl902 M-S
96V 97
96
85
20 82
84
96V
8 06
0x990 F-A' 84 v bale
08
87*4
Regis*6,000 only
M-S
95
; 1st ext gold 6s
102
101V J’ne’UO
1944 M-N 102 103 V 102
1 100
106
NY* Put See NYC Apl992
XL
1st A refund 4s
2004 M-S
79V 8iV 81V78 V 85 V •N Y * R B See
Gen s i 4*28
86
1936 J-J
86V 86
83 V 90*4 N Y S * W See Long Island
Ene
St L DIy 1st ref g 4s....2001 A-O
88
N Y Tex * M See So Pac Co
Dal A Wa 1st gu g 6s...l940 M-N, 104
106 .
1U6
105
Nor * South 1st g 6s
Kan O A Pao 1st g 4s...1990 F-A!
1941 M-N 100 v
101
88 V 90V 89 V
May’10
1
100
80 V 93 V Norf * West
101v
gen g 6s..... 1931 M-N 124 V
Mo K A h. 1st gu g 6s... 1942 A-O 109V—125 V Sep’10
123
126 V
106
113
Improvem't
*
122
F-A
M K A Ok 1st gu 6s
extg
6S..1934
V
128
126
liar’10
124
1942 M-N 107 V 109
103 108 V
V
New
126V
River lstg6s
122
A-O
M KATofT 1st gug 68.1942 M-8 101V 104 V 104
1932
V
123
May’10
104
1 100V106V
123
124 V
N * W Ry 1st con
08 V Sale
Sher Sh A bo 1st gu g 6s. 1943 J-D 104
g 48.1996 A-O
98 V
109
98 V 18! 06 V 100
llovXpr’o
Registered
TexA Okla 1st gugos...1943 M-S 105 V
1993 A-O
07
8 105
106 V lo61
Apr’lu
97
....
07
108
Div'l 1st l * gen
Mo Pacific 1st oon g6s ...1920
g 4s... 1944 J-J
93V 92 V Nov’10
108 UO
110 Nov’l
91
107
111
10-26 year oonv 4s.... 1932 J-D 100
93*4
Trust gold 6s stamped.al917 M-S 101V101V 101V
V Sale 10UV
5 100 102 V
loov
45
94
101*
V
108
V
PooahC* C Joint 4s..1941 J-D
88 V Sale
i
.Registered
01917 M-S
88V
88V
5 86 V 00 V
OOVMar’l
G O AT 1st m
09V
90V
g 6s
1st OOll gold 68.
1922 J-J *101
105
106
102
1920 F-A 101
1 100
3 ,104*4 106
101V 101*
Scio V* N E
102V
07
lstgug4s 1989 M-N
06
40-year gold loan 4s
NOV'10
1945 M-S
77V 78
77VNoy’I
04
76
06V
81V North Illinois See Chi * N W
8d 7s extd at 4%
193 8 M N
08V 06v JMov’o
’
North Ohio See L Erie * W
1st A ref conv 5s
02 V 03
1969 MS'
i7 80
02V
06
Nor Pao—Prior lien
99 V Sale
g 4s..1997 V J
Cent Br Ry 1st gu g 4s.1919 F-A
92
03
02
02
2
21 99
99<V 100
01V 05
102V
Registered
98 V 99*4 00
Oen Branch U P 1st g 4a. 194* J-D
1997 V*j
83 V 80
00
26
87V
86
87 V
08V 101
General lien gold 3s....a2047
70
V
Sale
V-F
110
70V
71
6 69V 74
Leroy A C V A L 1st g 5s 1926 J-J
Registered
O2047 u-F
Pao B of Mo 1st ex g 48.1938 F-A'
71
70
98V
Sep’10
69
72 V
06 V 100 V
St Paui-Lui DlY
96 V
2d extended gold 6s...1938 J-J
g 4s....1996 J-D
110
liov
96V
96V
2
110
113
06V 97V
Dul short L 1st
90
gu 5s..i9ie MS
8t L Ir MA Sgen con g 5sl931 a-o! 107 V 107 V 107 V
09
Feb’io
6 106 V 110
90
09
C B* 14 cofi tr 4a See at Not
Gen oon stamp gtd g 5s 1931 A-O
111
1
StPAN P gen g 6s
Unified A ref gold 4s.. 1929 J-J
1923 F-A 116
ll6VNov’10
84V
2 “81
84V
8d~
116V H8V
Registered: certifies.. 1923 u.F
Riy A G DIy 1st g 4s..1933 M-N
84 V &4V 84 V
116V 117
Feb’10
10 82*4 87*4
117
117
St Paul * Dul 1st
F-A
i
Verdi V I A W 1st g &S.1926 M-S
5s....1931
107
V
110
J’ne’lO
102
V
...J 110
1
UO
2d 6s
L02V102V
Mob J A K 01st cons g 5s.l953 J-J
1917 A-O
103
Oct ’10
08
103*4
103
1st consol gold 4s
103V
Mob A Ohio new gold 0s..1927 J-D 117 V 121
92
J-D
.1968
00
96
V
Apr’io
115
12 liv
96V 07V
Wash Cent 1st g 4s
1st extension gold 0S..A1927
1948 U-M
J
01V
92 V Nov’iO ...J 02 V 02
113V H6V
114 V117 V
V
General gold 4s
J-J
fjj
86
00
111 V Nov’10
111V
1938
86 V 00
110V 111 v
Nor Ry Cal See so Pao
Montgom DIy 1st g 6s..1947 F-A 109V
107
109 V Nor Wis See O St F M * O
St L A Cairo coll g 4s..«193U
F
80
76
Nor * Mont NmN Y Cent
Guaranteed g 4s
J
03
08
1931
04
01
!
4
04
06
| | lnd * W See C C C * St L
MAO ooli 4s See Southern
v/hio Riy RR See Balt * O
Mohawk A Mai SeeN YCAli
* Cai See So Pao Co
Monongahela Riv See B A O
short Line See (Jn Pao
Mont Cent See St P M A M
ego A Rome See NYC
Morgan's La A T See S P Co
Morris A Essex See Del L A W
pao Coast Co 1st g 5S....1946 J-D 104 V105 V 104 V Nov'10
102V 108V
X ao of Missouri See Mo Pao
J-J
106V Sale 106V 1
1 106V110V Penn RR 1st real
1st oonsol gold 5s
eat g 4s. 1923 M-N
1928 A-O 100 V
102
110
Noy’10
102
Aug’10
103 V
108V UOV
Consol gold &s
1919 M-S
110
Jasper Branch 1st g 6s.. 1923 J-J 116*2
tl
109 V Jan’00
116 V 116V
Consol gold 4s
MOM M W A Ai 1st 6s..1917 J-J 106 V
1943 M-N
L02»* oct ’10
102V
106
Convertible
TAP Branch 1st 0s....1917 J-J 108 V
g 3 Vs1912 M-N
98V 99 V 08*4
113
98 V 27 | 97 V 102
Convertible g 3 Vs
Nash Flor A Bhef See LAN
1916 J-D
05 V sale
96
96*4
V 133 94 V 97 V
Consol gold 4s
Nat Rys of Mexpr 14 Vs 1957 J-J
1948 MN 103*4 sale 103V
94 V Sale
103V
61 93 V 95*4
d 101*4 104V
Aiieg Vai gen gu g 4s...1942 M-S
Guar gen 4s............. 1977 A-O
100
90 V
Oct’10
J 102*4
87
V 02 V
DEBRA Bge1st gu 4s
102*4
Nat of Mex prior lien 4 Vs. 1926 J-J 100V 101
g.’36 F-A
04V
0 100 V 102 V
PhUaBal* W 1st g 4s.. 1943 M-N
1st oonsol 4s
1961 A-O
101*4
09
::::::
103V
83V 84V
2 82
86
Sod
Bay * So 1st g 6s...1924 J-J 100
NewHAD SeeN YN 11 AH
1
102
Jan’03
U N J RR * Can gen is.1044 M-S
NJ Juno BR bee NY Cent
103 V May’10
_» 103
104
Penn Co—Guar lstg4Vs.l921 J-J
N Y Bkin A Man Boh See LI
103
104
104
Nov’10
103
106
N Y Cent A H Rlv g 3 Vs.1997 J-J
Registered
1921 J-J 102
....)
88
103*4
Feb’10
103
88V 88V
8
26 87V 99
V 103*4
Guar 3 Vs coil trust reg. 1037 M-S
88 V
Registered
1997 J-J
00
*""*l
00
88V
Aug’10
00
86VJ’J*’10
86V 90V
Guar 3 Vs coll tr aer B... 1041 F-A
Deben g 4s
1934 M-N
88*4 80
93 V 03V 08
88*4 Oot "0 ....' S3
9
6 02
01V
05V
Tr Co oertlfs gu g 3 Vs. 1916 M-N
Lake Shore ooli g 8 Vs...1008 F-A
07
V
08
80 V Sale
80
97V
97V
6
8
34 79V 82V
05*4 08V
Gu3Vs tr otfsC
1942 J-D
Registered
1998 F-A
80*4 87 Aug’10
70V 78V
87 00
7
6 78
80 V
Gu 3 Vs tr ctfsD..1044 J-D
88V 00V 91 Deo’09 ....(
MI SC JELL 4KEOUS
U-Lanhattan Ry consol 4s. 1990
Registered
iiov
r-eae
•
444
•
•••
ttt
r
....
.
....
'
....
......
»*•«
....
....
J
....
......
......
....
-
v
•....a
.,
.a.a..
....
....
....
•....a
M-N|
••••«•
....
....
....
....
....
*
....
....
‘sa-sn
....
.
....
....
*■
u
^
aov
....
....
....
....
— „
Nash Chat A St L 1st 78.1913
•
•••
....
......
......
....
....
Dec*
......
......
<
•
..«•
• ••a
BONDS—Continued
Cool and Iron
BnffASusqIrons!6s....1932
J-D
Debenture 6s
a 1026 M-S
O01J * l Co gen s f g 5s..1043 F -A
Convertible deb g os....1011 F A
DolIndulstA coil 6s gu..l934 F-A
Dontin'talOlstsf gu6sg.l052 F-A
Hr
Riv Coal* Gist g6s..l010 A-O
[off:* Clear C * 11st g5s. 1926 J-D
Kan * H C * 01st s f
g 6s. 1061 J-J
fPooah Oon Collier lsts f 5s.’57 J - J
Bunday Creex Co g 6s....1044 J J
tenn Coal gen 6s
1961 J-J
Tenn Div lstg6s
01917 A-O
Bhrm Div 1st oonsol 6s.. 1917 J-J
II Oah C M Oo 1st gu g 6S.1922
Do Bar C * X Oo gu g
6S.1910
riotor Fuel 1st s tAs
1963
ralron Coal*Oolst g 5s.1040
J-D
F-A
J -J
M-S
96V
90
95
....
......
97 V
98V
77 V
90
95
99
78
100
100
86
90 V Nov *09
90 Nov'10
08 Not’10
98 V
98 V
77V
77V
107 V Deo’04
102 V Apr'06
107
90
06
93
70
90
101
88
**5
May»07
Next Page
Manufacturing St Industrial
Allis-Chalmsrs 1st 6S.....1936 J - J
Am Ag Ohexn 1st o 5s
1928 A-O
98V Am Cot Oil «xt 4 Vs
1916 V*F
82 V Am Bide * L 1st s f g 6s..1010 M-S
Anar loo Beour dob g 6s.. 1026 A-O
Am Spirits Mfg 1st g 6s.. 1015 M-8
Am Thread
106 V Deo'06
88 J'ne'lO
78 Feb'07
102 V 102 V 108 Nov’lo
104 V106
104 V Oct *10
106
Bale 104*4
100
106
110
Jan'09]
100
Jan'10
87
Aug'09
96
07
96 Nov'10
•No price Friday; latest bid and
asked. oDnsJaa bDnoFeh
»••••• •<¥!•••
on
102
|103
107
108 V107
iod” ioo*
.
«
04 V100
1st col tr 4s..1010 J - J
40-yr g 6s.... 1944 A-O
4s.....
1061 F-A
Beth Steel 1st ext sf 6s.. 1026 J-J
Jent Leather 20-yeor g 6a1926 A-O
Consol Tobeeoo g 4s.
1951 F-A
Corn Prod Ref af g 6s.... 1981 M-N
Am Tobacco
1st 26-yearsf 6s
1984 M-N
Cuban-Amer6ugaroolltr8s'18 A-O
Distil &eo Cor oonv 1st g 6s.*27 DO
E1 da Pont Powder 4 V*..1936 J-D
Due May pDusJ'no A Due
J'ly fcDue Aug
77 V Sale
77V
102V 103 102*4
98V 98V 08 V
78V
103
98 V
22
72
84V
6 100
103
8 03V 08V
04
94
94 V
4 92
102
67
72
66 V Nov' 10
66 V 78 V
97 V Sale
07
87V
94 101
01
92V 92 V Nov’10
80
98
106 V Sale 106
100 V 40 1 04 V 109
80 V Sale
*0V 148 76V 86V
80V
86V 86V 86 V
*6V 12 83V 89
00 V
99 V
90 \ 74 97 109
80
«0V 80V
1 76V 88V
80V
07 V
90 Nov’10
98
97
94 V Sals
06
97
76V
84
a.DneOot
Sals
0
94V
94V
0«VJTy'io
78 V
77V [287
84
Doe Nov
84
f
14
Dae Deo
98V 96V
08
87
•4
/Flat.
97
77V
88
1
Not. 26
New York Bond
1910.]
N. Y. STOCK EXCHANGE
Wkek ENDINO Nov 25
is-S
*5
Guar 15-26 year g 4s. ...1931 A-O
Cl A Mar 1st gu g 4‘as.. 1936 M-N
Cl & Pgen gug4*sser A.’42 J-J
Series B
1942 A-O
Series C 3*8
1948 M-N
Senes D 3 *8
I960 F-A
Erie A Pittsgug3*s B. 1940 J j
Series C....
1940 J-J
Gr K A I ex 1st gu g 4 *s
J-J
Pius Ft W & C 1st 7S...1912 J-J
1941!
2d7s...„
3d 7s
Pitts Y& Asli 1st
Price
Friday
Noe 26
.1912 J-J
A1912 A-O
ibo*
103*
103 *
90
90
92"*
92*
100
104*8
104**
103 '8
5a.l927|M-N
107
Series B guar
....1942- A-O
Senes C guar
1942 M-N
senes D 4s guar
1945 M-N
Senes E 3*a guar g....l949, F-A
Series F 4s guar
1953 J-D
C St L <fe P 1st con g 68.1932 A-O
Pensacola A Atl Sec L& Nash
Peo A East See C C C A St L
-F
Peo
Pek Un 1st g 6s....1921
-N
2u * old 4*8
01921
106
con
PCC&StLgn4‘aaA...1940 A-O
Fere Marquette—Kef 4s.. 1955 J-J
Ch A W M6s
19211J -D
Flint A P A1 g 6s.
1920 A-O
1st consol gold 5s
1939 M-N
Pt Huron Div 1st g 5s. 1939 A-O
Sag i'us A H lstgu g 48.1931 F-A
Phil B A W tiee Penn HB
105
93
89 *s
Range
Oag Tos A H See Pere Mara
Ot Jo A Gr isi 1st g 4s...194*7 J-J
St L A Cairo See Mob A Chio
St L A Iron Mount See M P
St L M Br See T RR A of St L
St Louis A S F—at eng 6s. 1931
General gold 6s
1931
8t L A S F RR cons g 4s..’90 J-J
Gen 16-20 yi 5s
1927 M-N
Southvr Div 1st g 6s.. 1947 A-O
Refunding g 4s
1951 J-J
K C Ft S AM con g 6s.. 1928 M-N
K C Ft S A M Ry ref g 4s 1936 A-O
K C A M R A B lstgu 6s. 1929 A-O
Os’rk A Ch C 1st gu 5s g.1913 A-O
St Lotus So See Illinois Cent
St L S W 1st g 4s bd ctts.1989 M-N
2d g 4s mo bond 0tfs...pl989 J-J
Consol gold 4s
1932 J-D
Gray's PtTer 1st gn g 6s 1947 J-D
St Paul A Dul See Nor Pacific
St P Minn A Man See Gt Nor
St P A Nor Pao See Nor Pac
StP A S’x City SeeC St P M AO
S A A A Pass 1st gng4s... 1943
8 F A N P 1st sink t g 58.1919
1-
Range
4)^
Since
January 2
High Jio Low High.
1
94* 99
Oct'3 0
Jan'05
11034 Jan '09 ...j
10934 J’ly’OO
;;;;;; ;;;;;;
96
Aug’09 ....1
90
May’08
92 3& Nov’10
91
92*
98* Apr'04
106* 104*9 Oct ’09
104*9 Oct *10 ...J 104*106
li 104* 105*
‘104*4 104*4
'107 Oct’08 ....!
!109 May’10
109
109
107* 107* Not’IO
107
107*
108
107
Oct'10
103 * 107*
106*4 Sep '10 ....! 106*106*
98*9 Oct’10
97* 98*
93>« 94 J’ly’10
94
94
....
a
•
•
|
•
-
•
«
••
,
••••
112*4
i'12* NoV’id
-
107*
90‘s
Feb'10
112
96
99
ill* i'12*
•
112
see
112
90*
70
96
70* 79
100
102*
....
102*a 102 Not’IO
10834
108* Sep’10
102
MM* 101 Aug’10
103
106*105 Oct’10
101
I
108*112*
101
• 101
101
106
i
89* J’ly’10
Philippine Ry 1st 30-yr s f 4s’37 J-J
Pitts Cm A St Li See Penn Co
Pitts Cleve A Tol See B A O
Pitts Ft W A Ch See Penn Co
Pitts McKees A Y See N Y Oen
Pitts Sk & L E 1st g 5s...1940 A-O
1st consol gold 6s
1943 J-J
Pitts A West See B A C
■ > eading Co gen g 4s
1997 J-J
IY> Registered
1997 J-J
Jersey Cent coll g 4s...1961 A O
Bensseiaer A Sar See DAB
Rioh A Dan See South Ry
Rich A Meek See Southern
Rio Gr West See Den A Rio Gr
Rooli A Pitta See B tt A P
Rome Wat A Og See N Y Cent
Rutland See N Y Cent
or
Last Sale
ASK! Low
98
110
Sui
Pennsylvania Co—(Con)
88
....
90
112
112*Noy’10
93* J’ly’97 IIH1
•
98* Sale
98
98*
98
98
98
97*
97*
•
■
•••
Sale
97*
L33!
2
2
112*
97
95
95
100
98*
98*
1
89
Sale
89
89
117*121
106*107
2
88*
94
120
107
120
124
Apr’10
1
105
Sep’10
108*
l
90
91* Oct’10
91*
90
86*
86* 45 84
99* Oct ’3 ...J 99 100*
8034
82 221 78* 85
8y
86*4 Sale
99
bl* Sale
117
116*
Sep *1 ...J 114 117*
13
77* 78* 77
78
<6* 82*
t
100
100* Dec'09
j
96* 97*
96* 97
1
89*
91
7b
83
76
75
Noy'I
75
75
101* Apr’07
80
96
4
90
90*
***6
93*
88
79
82
72*
79*
Fla Cen A Pen 1st g 5s.l918
1st land gr ext g 5s ...1930
Consol gold 5s
1943
Ga A Ala Ry lstoon 6sol945
Ga Car A N o 1st gu g 5s 1929
Seab A Koa 1st 5a
1926
Sher Ski A So See MEAT
Sil bp Oca A G See Atl Coast L
Southern Pacific Co—
Gold 4s (Cent Pao ooll).*1949
Registered
/cl 949
20-year conv 4s
pl929
Cent Pao 1st ref gu g 4s 1949
Registered........
1949
Mort guar gold 3*s..*1929
Through St L 1st gu 4s ’54
G JR A S A M A P 1st os.. 1931
Gila VG AN lstgug58.1924
Hons E A W T 1st g 6s.l933
1st guar 6s red
1933
; ,n A TC
Istg6sintgu..l937
Consol g 6s int guar...1912
Gen gold 4s int guar..1921
Waco A N W div 1st g 6s '30
A A N W 1st
1941
gu g 6s
Morgan’s La A T 1st 7s.l918
1st gold 6s
1920
No of Cal guar g 6s
1938
Ore A Oal 1st guar g 6s.l927
Bo Pao of Cal—6s E A F.1912
1st gold 6s
..1912
1st con guar g 6s
1937
B Pac of N Mex 1st g 6s..1911
i Bo Pao Coast 1st gu 4s g.1937
;
1
TexA.NOSabDlvl8tg68.1912
Con gold 5s
AO
M-N
F-A
M-S
J-J
86* Sale
29
86
104
98*
83*
88*
Oct’09
85* Sale
99* Sale
77
84
91
Sale
84*
9
86*
99*
76*
1‘
99*i
77 * 231
b4
34
1,
...J
....
81*
86*
100*
99
69*
78*
87
92
103
80
91
103
100* 103*
....
103*
104**
92
....
....
92*
92*
92
91
97* Sale
96* 96*
Oct
97*
963*
97
lu
92
....
238
i
Fet
903*
94
21
}
97
903* Sale
83
i
1
....
6
l
J’n<
....
.
1043* sep ’09
103 * 10534 105 * May’09
104*106
109*110
89
95
86
91
92* 106*
94* 98*
97
97
87* 90*
91* 94
103* 106*
|103*
109*110*
1109*.
....
116
116*115
He. il6
J-J
100
......
100
....
A-O
A-O
M-N
102
102* 102
....
....
J-J
J-J
....
112
•
107*
100
84
M-S
1943 J-J
100*
Ml
116
98*
92
96*,
113
A-O
104*
106
“i 103* 109
107*
10534 103* 107*
104*
104
104
106
94
115
J-J
J-J
O
&
119* 119*
ii*
^10*110*
lioo
102
ibo
!•»••••
1
•••••§
102
...J loo* 101
100> 100 ‘
93 | 90
102
101’
•102
.....
....
Price
Friday
Nov 25
tiia
1st ref 4s
1955 J-J
Southern—1st con g 5s....1994 J• J
io Pac RR
1994 J-J
Registered....
Develop A
gen 4s Ser A. 1956 A-O
Mob A Ohio coll tr g 4s..1938 M-S
Mem Div 1stg4*-5s...l996' J-J
St Louis div 1st g 4s.... 1951 J - J
Ala Cen R 1st g 6s
1918] J-J
Atl A Danv 1st g 4s
1948; J - J
2d4s
1948 J-J
Atl A Yad 1st g guar 48.1949 A-O
Col A Greenv 1st 6s
1916 J - J
E T Va A Ga Div g
J-J
Con 1st gold 5s
1956|M-N
E Ten reor lien g 5s
1938 M-S
Ga Midland 1st 3s.
1946 A-O
Ga Pao Ry 1st g 6s
1922 J-J
Knox A Ohio 1st g 6s...1925 J-J
5s..l930^
Mob A Bit prior
J-J
J-J
J-J
A-O
Rich A Meek 1st g 4S...1948 M-N
80 Oar & Ga 1st g 6s....1919 M-N
lien g 5s 1945
Mortgage gold 4s
1945
Rioh A Dan con g 6s....1916
Deb 5s stamped
1927
Virginia Mid
ser C 6s...1916 M-S
Series D 4-6a
1921 M-S
Series E 6s
1926 M-S
General 5s
1936 M-N
Guar stamped
1936 M-N
W O A W 1st cy gu 4s..1924 F-A
WestN O 1st eon g 6s.. 1914 J-J
S A N Ala See LA N
Spokane Internal 1st g 5s 1955 J-,
'
I er A Of St L 1st g 4 *8.. 1939 A-O
J. 1st con gold 6s....1894-1944 F-A
Gen refund s I g as
1953 J-J
StLM Bge Ter gu g 5s.l930 A-O
Tex A N O See So Pao Co
Tex A Pao 1st gold 6s
2000 J-D
2d gold ine 5a
92000 Mar
La Div B L 1st g 5s
1931 J-J
W Min W * N W 1st gu 5s ’30 F-A
Tol A O C 1st g 5s
1935 J-J
Western Div 1st g 5s...1935 A-O
General gold 6s
1935 J-D
Kan A M 1st gn g 4S....1990 A-O
Tol P A W 1st gold 4s....1917 J-J
TolStLA W pr Ben g 3 *8.1925 J-J
50-year gold 4s
...1950 A-O
Coll tr 4s g Ser A
1917 F-A
Tor Ham A Boll 1st g 4s. A1940 J-D
1 ] later A Dei 1st oon g 6s 1928 J-D
U 1st refund g 4s
1952 A-O
Un Pao RR A 1 gr g 4s ...1947 J-J
Registered
...1947 J-J
20-yr conv 4s
..1927 J-J
1st A ref 4b.
#2008 M-S
Ore Ry A Nav oon g 48.1946 J-D
Ore Short Line lstg 6s..1922 F-A
1st consol g 5s
1946 J-J
Guar refund 4s
1929 J-D
Registered
..1929 J-D
Utah A Nor gold 5s..l926 J-J
Uni N J RR A CCo See Pa RR
Utah Central See Rio Gr Wes
Utah A North See Un Paoiho
Utica A Black R See N Y Cent
Week's
Range or
Last Sale
106*....
*89*
101*102*
••••!]*•••••
••••••
6
108*
May’09
76* 101i
Nov’10
Sep’10
103*111*
73
86
106
81*
90*
80*
110
87
106* Not’IO
106*106*
89*
93*
82 *
82 *
....
....
Feb’lo
110
110*110* 110*
105
114*
104* 106
104*
104*
67
112
116
Nov’09
66
112*
112*
110
106
109
110*
111* 113*
Nov’10
116
105* 105*
82
Nov’OS
104*107* 105*Cot ’10
106
105*
105*
75
Oot '08
70*...
103
103* Oct’10
112
CCt ’06
105*
103*
108* Deo’06
114
....
105* Sale
70
116
105*105*
105*106*
105
...
107*
ioa” ioT
...
......
105*
107* Deo’09
106*
105*
105* Not 10
106*
105*
86
104*
105*107*
105*105*
Fcb’10
91
......
91
106* i06* Sep *09
105*....., 104* Oot ’10
109
Aug’10
97* Oct 10
108
109
109
109
104*107*
108
93
110* Sale
65
98*
70
103
115*
98*
109*
109
96
109
110*
110*
91
105*106*
l06*May’io
108*112*
Mar’10
Sep '09
70
70
106* Nov’04
107*109
106
107* Nov’10
»ep’U9
Nov’10
Mar’10
Sep'10
Aug’10
108* 111* 112
loi* 103 101*
89
93
94*
91*
93
88*
87
77
76
80
83
83
86*
89
103*106
103
86
83* 87
101
101* 101
*101 lul* 100
112*
99*‘ 104*
94*
93*
90*
92
87
70
80*
16
Oct *10
J’ne’10
J’ne’10
90:
81
.
86*
91
87*
106
100
j
Oct ’u9
101*
100*
106* bale 105* loo*
96* 97
86*
96*
94* 95* 94* Nov’lo
114* sale 114* 114*
111* Sale Ul* 112
92 * sale
92*
92*
*09* iosT
102
12
98*101*
188 101
116*
1
95
98*
98*
94*
‘*4 118*117
19 108*113*
91
94*
Apr’10
96
96
110* 105 J’ly'10
93
94* 94 Out'10
Sale 109
109
109
99*
99*
99*
106
86
J’ly’lo
98* 100 J’ne’lo
86
90
Mario
105
108
24 107
5
98
86
100
90
104
32
Jan’09
94
107* Deo'09
Nov’08
98
96
See Mo P
1st cons 60-year 6s
1958
abash 1st gold 5s
1939
2d gold 5s
1939
Debenture series B
1939
1st lien equip s fd g 5s.. 1921
1st lien 50 yr g term 48.1954
1st ref and ext g 48 ....1966
Det A Ch Ext 1st g 58..1941
Des Mom Div 1st g 4s.. 1939
Cm Div 1st g 3*s
1941
Toi A Ch Div 1st g 4s... 1941
Wab Pitts Term 1st g 4s. 1954
Trust Co certfs
W
gold 4s
Since
107*107*
....
70
106
107*109
Range
Nov’10
107*
89* Not’IO
82* cot ’10
F-A
2d
2xs|
^1; January l
1107*
....
82
2~i
Higfi NorLow Higfy
94* 30| 93* 95*
Low
a.mi'
94
Sale | 94
1U8 * Sale |107*
..110
76
76* Sale
85
90
86
107
108
108
86* 86* 86*
Vandalla
4s 4....1955
consol
ggn
Crus
APlat
*sl934 J-J
See South Ry
Va <fe South w’t 1st gu 5s.2003 J-J
101*
103*
AO
N. Y. STOCK EXCHANGE
wkek Ending Nov 25
Ver Val ind A W
101*
J-D
M-S
F-A
F-A
J-D
A-O
M-N
M-N
M-N
M-N
J-J
A-O
A-O
M-N
•a
Virginia Mul
101*
J-D
BON DM
era
t
SavFAWest
See All Coast L
Scioto V&L A N E See Nor A W
Seaboard A L g 4s stamped *5U
Coll tr refund g 6s
1911
Adjustment 6s
©1949
Atl-Bum 30-yrlst g 4s.el933
Car Cent lstoon g 4s...1949
1433
—
T*—.
rt
BONDS
Record—Concluded—Page 4
J-J
M-S
J-J
J-J
J-J
J-J
A-O
M-S
J-D
1954 J-D
..
Trust Co certfs
Warren See Dei Lao A West
Wash Cent See N or Pao
Wash O A W See Southern
Wash Terml 1st gu 3*s.. 1946
West Maryland 1st g 4s...1962
Gen A conv g 4s ........1962
Trust Co certfs..........
W Va Cent A P 1st g 6s 1911
WestN YA Pa lstg6s.. 1937
Gen gold 4s
1943
Income 6s
41943
West No Car See South Ry
Wheel's ALE 1st g 6a...1926
Wheel Div 1st gold 6s.. 1928
Ex ten A Imp gold
RR 1st oonaol 4s
A-O
M-N
F-A
F-A
A-O
105
G5*bai»
108
66
105
83
76*.
A-O
46*
89*
86* Sale
mmmmmrn
110
88
A-O
105
101
5s...1930 F-A
100
82
1949 M-S
20-year equip s f 6s ...1922 J-J
Wilkes A East See Erie
Wii A Sioux F See St P M A M
Wia Cent 60-yr 1st gen 4s 1949 J. J
8up<fc Duldiv& term 1st4s’36 M-N
47
45*
6*
7*
......
88
Sale
97
89* Nov‘10
86
86*
7l*Feb’10
7S*Apr’10
100* Nov’09
110
66*
77*
107*
72* 77
105*
90
25
83
33
32
4
4
37
88*
82*
90*
86*
ii
73
68*
74*
88
20
1x0
86* Sep’10
34
Feb’07
105*
92*
93
92* Nov’10
52*
54
.
11*
12*
11 109 * 110*
86* 92
104*105*
103* 103* Nov’10
102
J'ne’10
84
Not'10
97* 98* Oot *10
92* Sals
93
93*
86
102
90
105
76*
Sep’10
45* Nov'10
46* Sale
7*
1
7*
98*
113*
103*
Deo’09
83
Not
J-J
65* 132
J’ly’10
75*
A-O
J -J
J-J
94
103* 104
99
102
77
87*
98* 98*
42
90
90
95
94
Telegraph and Telephone
Am
Telep A Telooll tr 4s 1929 J-J
Convertible 4s........... 1936
Mich State Telep let 5s ..1924
N Y Telep let A gen s 14*s.’39
Pao Tel A Tei let 5s ......1937
West Union col tr our 5s.l938
Fd and real est g 4*s...l950
Conv 4s, Senes A
1936
M- 8
F-A
M-N
J
J-J
M-N
M-N
90* Sale
105* sale
99
90*
105*
1UU* 96
98* Sale
98*
97* sale
97*
100
95
Sale
100
Sale
94*
101* Sale 101*
90* 10
106*589
Aug’10
98
95
95*
98*
97*
1U0*
85
101*
89*
95
97
93
93
106*
99
99
99*
100*
97*
271100*102*
JU1SCXLLANEOUS BONDS—Concluded.
Manufacturing & Industrial
Manufacturing A Industrial
Gen Electrio deb g 3*s..l942
10-vr g deb 5s
1917
Int Paper Co 1st eon g 6S.191&
Consol conv s f g 5s
1935
Int St Pump 1st s 2 6s....1929
Lackaw steel let g 6s....1923
Nat Enam A Stpg 1st 6s.. 1929
N Y Air Brake 1st oonv 6s *28
By Steel Spgs 1st s 2 6s... 1921
Repub IA S 1st A ooltr 6s. 1934
Union Bag A P 1st si 6s..l93u
tf*S Death GoVf de*b
g
6<f.7l913
U 8 Realty AI conv deb g 6s ’24
U S Red A Ref let sf* <5.1931
U 8 Rubber 10-yrooUtr6s.*18
tJ S Steel Corn—t coup .dl963
1 8210-66yros. (reg ..<*1963
F-A
J-D
F-A
J-J
M-8
A-O
J-D
M-N
J-J
A-O
J.J
M-N
J-J
J-J
J-D
M-N
M-N
162
Sale
82
147
103*105
101*
84* 88* 85
91* Sale
91*
82
162
VA-Car Chem 1st 15-yr 6s 1923 J-D
Wes ting house E A Ms 2 6s *31 J.J
100
105
Miscellaneous
Adams Ex 001 tr g 4s
104*
87*
92*
Not’IO
96
98* 96
104
104
96*
Sep’10
Not’IO
96*
97*Oet '10
102* 102 Oet'lO
92
92 Sals
92
96
93 Msy*l0
104*106
104* 104*
88
87
86* 88
103
.
84
88
102* Sals
103* Sale
103
87
Nov"0
102*
103*
103*
1. * Vo prloe Friday; latest Md and asked this week,
82
J«n ‘10
162 204 130
103
108*
103*
2
1948
82* 89*
91* 96* Armour A Co lstrealest4*8’3y
Bush Terminal 1st 4s
1952
95* 100
Consol6s
1966
94
97*
LOO 114* Ohio Jo A bt Yard oolg 58.1916
96* 98* DetMAMldgr incomes.. 1911
tnstit for Irrig Wks 4*s 1943
102 104
91* 96* Int Meroan Marine 4*s..l922
93
96* int Navigation 1st e 2 6s.1929
Newo NeBhip A DD6a<tl990
1 104*105
6 85* 94* N Y Dock 60-yr 1st g 4s.. 1961
66
90* Providence Beo deb 4s....1967
*3*6 101*104* Provident Lean 800 4*s. 1921
184 101*105* 8 Yuba Wat Oe eon g 6s..1923
56 101*105* Wash Water Pow 1st 6s.. 1939
86
18
b Dae Feb d Dus
M- 8
J-D
A-O
J-J
J-J
A-O
M-N
A-O
F-A
J-J
F-A
99* 100*100
92* Sals
91*
90
Sale
90
91*
88*
sale
91*
89
98
105
40
39
•#••••
100
36
06*
65*
78
98
91
M-N
M-S
J. j
J.J
90* 18
91* 60
89
io)
96* 100*
86
98*
90
93*
90* 94*
87* 89
95* 98
95* Oct‘10....
Ma^lO.... LOO
100
85
^"6!
96*
66* 65
8SH U
81* 79
Nov'10...
95
Dec’09.
92* 91* Nov‘10.
90
Sup‘10
eaie
.
100
36
96
66
40
98
76
88
*
71*
’
......
...—
101*
100* 82
92* 28
:::r.:iiS
108
108
J’4r00
90*
90
94Ti
90:*
J'ly*04
A*g»10.
Apr sDueMay #DueJ’ae A Due J’ly feDue Aag oDusOct pDue Nov sOpfUaa Oalg;
CHICAGO STOCK EXCHANGE—Stock
STOCKS—HIGHEST AND LOWEST SALE PRICES
Saturday
Nov. 1»
Sales
Tuesday
Nov. 21
Wednesday
Nov. 22
Nov. 23
Thursday
Friday
Nov. 24
Nov. 25
Range for Year 1910
CHICAGO* STOCK
of the
Monday
Record—Daily, Weekly and Yearly
Week
Shares
Kangs for Previous Year
(1909)
EXCHANGE
Lowest
Highest
Lowest
Highest
Holiday
*i*2
*1*2
2*2
*6
78
2*2
80
10*8
*5
10
*5
6
5
*434
*21
*72
*19
*61
*18
*55
*62
*21
*70
*19
62
*18
*55
63
63
22
60
65
12
55
*52
10
10
7733
’
131
79
*260
*
*4*4
75
20
*18
*55
22
60
65
12
55
10*4
-
78
*260
-
*
*77
35
64
50
1*8
3
40*4
123
’34“
34’ *33“
1
*2
50
1
3
40*2
40*2
*48
*123
124
*48
*1
*2
*62*2
75
20
62
22
60
64
*52
65
*260
*.
*77
1J8
1*«
3
41*$
123
-—
155
154
115*2
115*2 115*4
115*2 115*2
116
----
—
—
—
....
91
73
*__
154
91
913s
73
68
63*r
97
*106
106*2
*150
—
913$
72*2
150*2 150*2
—
92
69
90*2
63*2 *.—_
63*2
64
97
97
90*2
68
21
112
*—
*
21
112
121
123
119
♦ill
12034
125*2
120
106*2 107
121
123
119
*121
*120
*119
174
106*2 106*2
*172
174
170
181
170
23
2534
103
103*4
55$
534
24
103
257a
103*4
6
534
23
*121
♦120
*119
123
125
121
119*4
103*2
*170
23*2
11978
6*4
22
Do
.
Inter¬
Price
est
Friday
Poriaa
o
97'a Dec
3
it)
89
5
30
Dec
77*» Mch-it*
26
J'ne.i
72
J’ne.i
J ne.4
28
66
J'ue.i
72*2 J nci2
64*8 Jaa 3
104
Jan 6
78
Deo
Dec
8
3U Dec
52
Jan
Nov
69
25
73
61
54 *r
108
9 an
Jan
29*4 Apr
Feb
Do
pret
pret..
100
.100
8*4
Feb
IS^s Jan It
Jan 4
260*8 NOV 17
i-la
Apr 4
84*2 Mayls
31
56
47
1
V,8 Jan
71*4 Jan
K'
7
Aug 6
131*4 J’ly 30
112
200
126
54 <8
101
139
Jan 11
Bid
Week’s
B-ds
Sold
or
Last Sals
P
-
-
IF
"
i
F
■
J
m
J
} J
-
U
r
J91
Rang 3
’55a4"jah"
J'ne 6
J’nc 6
Aug 11
Feb 4
74
55
1
Jan
Feb ’7
Feb 4
Sep 23
Feb i
Jan 3
3
41
137
142
103
Men it
I2iu Jan 11
2
Jan 13
22*4 Jan 8
82
Feb 28
Aug 26
108'$ J'ly 27
1*4 Jan 26
13*2 J’ly 9
79*4 Apr 7
82*2 Sep 30
53
J'ly 26
43*2 Mch 9
127
.an
F
•
NAME
Year 1910
J
A
-
O
-
J
F
*
'
102*4 Sale"
-
F
-
-
-
Debenture 5s
3
Commonw Elect 5s61
Illinois Tunnel 5s
1
Kan City Ry & Light
j
A
-
H
A
-
j
O
S
•
b
•
D
-
J
Income 5s
Metr W Side El—
1st 4s
Extension g 4s
..1938
Morris & Co. 4
North West El 1st 48.1911
No W G-L & Coke Co 5s 2*
Ogden Gas 5s
....1946
Pearsons-Taft 5s...
1914
*
F
J
J
M
-
Q
-
,H
-
J
4.40s
M
4.60s Merles E
M
4.80s Series F...
M
....
Peo Gas L & G 1st 6s.1943 A
Refunding g 5s
1947 M
Chic Gas L&C 1st 5sl937 J
Consum Gas 1st 5s. 1936
Mut’i Fuel Gas Ist5sl947
South Side Elev 4HS-1924
Swift & Co 1st g 5s...1914
Upton El (Loop) 58..1945
Union Pacific conv 4s.1911
United Bok Board ooi 6s 26
General mtge 6s ......
Western Stone Co 5s.. 1909
No(» —Accrued
nterest
«
M
J
J
A
*
*
-
*
-
-
-
1
•
•
1
—
88
98*4 Sale
8734 88*4
80*4 Sale
85
89*2
——
99
....
....
....
....
....
'
.....
102
101*4 Sale
....
....
«...
....
....
U0034 Sale
87
102*4
112
103
Feu 24
Feb 10
J’ly 26
115*4
148
Feb
186*4 Nov 12
104
Jan 7
Jan lb
Oct 31
NOV 1
Jan 3
9
Mayi6
J’ly 16
5*4 Apr 28
100
6
3
lie
Jan
20
Nov
65
101
Mch 8
109*8 Jan 8
186 Feb 19
101
J
Jan
43
82 *jau
110
Jan
102
Jan
Jan
15*8 Jan
36
26
112
145
1
6
4o
Jan
98*2 Jan
fit Feb
3*4 Mcb
Nov 18
•5
95*4
....
75
95I4 Oct’10
....
9434 Oct'10
77
Oet'lO
May’05
16
81*2
Sale
91
95
99
N
—
—
•
92
..
93
98*2
....
95
—
90
....
97*2
....
....
....
101*4 Sale
103
•-W
101
-
J t—
■
J
....
101*2
—
94
t—_ 100
*
r:*j
96*2
..
....
ei;
58*2
60
77
_
.
_
.
—
_
.
'
15
11
6
103
IOO
88
114
70
Nov'lt
Apr'10
‘ 10234
65
—-
4
2
1
80
70
88
4
93*4
....
Feu’10
101*2
101*2
100*4 Oct'10
92*4 Nov'lO
100
75
95*2
Apr'10
103
10038 103*4
100*8 I027s
100*4 1007$
100
100*2
94*4 95*4
94*4 94*4
93*2 Nov'lO
100*8 Mch'09
97
T
90*2 91
97*4 lOUg
97*4 98
100*8 1003J
....
91
90*2 Mcb'lO
75
_
87*4
1013$
87*2
20
82
78
98*2 MehTO
121*4 May'09
101*4
101*4
90
3
100*4
—
76
29
102*4
DeC*08
8414
62
101*4
1007$ .Nov'lO
100*4 Oct'10
100*>$ AUg‘09
100*4
93*4
90*4
99
99
92*2
90*4
90*i
96*2
97
98*2
-
84
80
97
98*2
*■
10
1
3
*lr-rWe.
1Q0$| 103*4
103
10412
100*4 1021?
100*4 IOU2
9134 94
100
100*g
88
88
70
70
65
Nov 04
Apr TO
6II4 Oet’lO
O
85*2 July 08
muntl be added to all Chicago h
Jan
Dec
42
140
Dec
152
Oct
Sep
25*8 Aug
88*2 May
130*4 Aug
88*2 Dec
47
Sep
21
j’ne
119*4 Sep
130
Sep
lost; Dec
Nov
1197$ Aug
1
Mch
169*2 Dec
121*4 Oct
114*4 Aug
Jan
100*2 Ja**
119
Sep
Nov
Jan
76*2 Dec
Apr
Apr
2*2 NOV
124
jan
J’ne
121*2 J’ly
38
977$ Jaa
118*4 Feb
122
J’ne22
15
Jan
Jan
*2 Feb
7
116*2 Aug 8
101
Sep 16
155 J’ly 27
u
117
107
17*8 Feb
70*4 Mch
117
Jan
Mch 28
Jan 7
Oct 25
1023.J Apr 20
Aug 3
J’ly 19
Jan
Outstand¬
Surplus
ing
and
162
Dec
105
Deo
1*8 Mch
9*2 Jan
Feb
25
Mch
Stock
r
Profits
T
Dividend Record
In
1908
In
1909
Pertod.
National.....
Chicago City
Contt’tal A Comm Nat
Exchange Nations.
5100,OOu
500, OOu
20.000,000
*043,541
245,216
0,764,964
0
An
3,000,000
5,497,543
6
10
10
■
....
— ..
12
12
Drexei State
6
200.000
30,767
9
Drovers' Dep Natlonai.
600,000
402,510
10
Engfewood State......
6
200,000
40316
6
First National........ 10,000,000 10,903,894
12
12*
First Nat Englewood
10
150,000
193,486
10
Foreman Bros B'k*g Co. 1.000,000
552,446
Pnv ate Ba
Fort Dearborn National 1,590,000
8
417,082
8
Hibernian B’k'g Ass'n.. 1,500,000
8
981,665
8
Kas par State Bank
200.000
10
162,240
10
La Salle St National
1,000.000
258,839 Beg. b js. M
Live Stock Exch’ge Nat 1,250,000
525,597 10+2
10
Monroe National
4
300,000
66,795
4
Nat Bank of Republic
8
2,000,000 I,265,625
8
National City
3
1,500,000
405,878
6
National Produce......
250,000
81,807
3
North Avenue State...
200,000
70,952
HH
5H
North Side State Sav'gs
6
50.000
6
t/26,239
North West State
200,000
1/18,498
People's Stk Yds State.
300.000
109,876
rPrairie National
250,000
<r)
Prairie State
8
600,000
86,405
6
Ra'iway Exchange
2
250,000
33,452
None
..
101*$
91
•
101*8 10314
....
100*8 Apr'08
66*2 Aug*08
6612 Julv'OS
J
u
17
Feb'08
86*4 Nov'lO
98
98*4
87*2
88
79*8
80*4
9*1*2 McbTO
9858
98*4
97*4 Sep’iO
Sale
Sale
*
-F“-nr
102*2
"94*2 Dec’-09
78
h
J
99*4
94*2
Calumet
Com
103
60
82
S
N
N
O
99*4
9034
—
6
May'07
102*4
80
0
n-N
A
100
A
J
S
M
N
D
.
High
J'ne'09
1 1
Feb
....
•
1
1
■T).m
86
J
•
1
_
H- N
- D
A
J
• «
•
5
Comraomv-Edison 5s .1
Chte Edison deb 6s. 1
1st g 5s
July ]
« 1
•
A
A
M - N
m- i
1 J ‘O
.n - s
-
Apr 04
Apr'09
9634 Jan'06
A
0
D
A
-
A
J
F
F
9934 Mcb TO
917$
92
Low
IOU4 Oct'09
0
J
l
High No.
102
MayDec
Dec
68
1
2*8 Apr'
Mch
127
-
A
O
M- M
>
Sale
_
A
-
1 A
s
May
May
226*4 Oct
132
J’ly
81*8 Dec
Apr
20
91
46
66
Mcbl7
J'n*28
Jan
Jan
6H4 Jan
Apr
6
115
125
145
123
118
100
100
for
....
A
-
J
-
Chfo Rys 4-5s series **A’
Chic ttys 4-5s series *‘B’
A
D
O
-
Armour A Co 4 Hs-.J
Aurora Elgin &Chio 5.1941 A
Oat A So Chic Ry Co
Ask Low
Dec
15*4 Nov
86
Feb
Aug
*8 J ne
U May
10
May
48
J’ne
142*8 Mch 9
3
Sep 23
25'o J’ly 26
110
Mavi7
101
Do rights..
44
Do
pret.
i
..100
1,277 Unit Boa Bd A P Go. 100
Do pret
..100
too
1,525 Western Stone
Apr*09
21*2
6** J'ne30
62*2 J’ly 26
Apr 2b
J’ly 19
240
1.6
72
107
Last Paid
%
"
r
J’lv
86*2 May
19*2 Dec
16*8 Sep
97
Jan
119*2 J’ly
45*4 Jan
30
Jan
13*2 Jan
29*4 Jan
Dec
10*3 Deo
47
17
63
60
Feb
Jan
4
15
16 Jan H‘
9*8 Ja
0
6*4 Aug 16
..an
190
Oct
Chicago Banks and Trust Companies
Range
Nod. 25
Mayai
55*4 JTy 5
7
J’ly 28
40
J’ly l«
__
Jan
Jan
Mch
ll? Oct
...
BONDS
EXCHANGE
Week ending Ar„v. 25
Feb 17
Jan u
Feb 7
Apr 1
Brewing....
National Carbon
Chicago Bond Record
CHICAGO STOCK
5
39
luay24
Jmao
Aug .8
16
180
18
Mav26
51
15
63
Mch v
0i2 Jan 26
7*2 Jan ?
109
3
20
69
185
28
-8
8
93
691 Swift A Co
100
15 The Quaker Oats Co..100
104
175
Last Sale 734
*20
Oot 24
28
1*2 J’ly
JTy
60*8 SeP
11*4 See
4
40
People’s Gas LACoke.100
Do
rights
1,870 Sears-Roebuck com
100
21
Do
pret
..100
IO6I4
June’10
*103
103*2
63g
22
40
50
35
135
634
103*2
6*$
Do pret
100[NTatk>nat Biscuit
Last Sale 11-16 Mch’09
182
182
170
*103
Mtlw A Chic
Nov'09
106*4
181
MeCrum-Do.voll Co..100
Do
pret....
June’07
112*2
119*2 119*4
10334 104
170
"74
64
Nov'lO
*110*2
106*2 103*2
Last Sale
*102*2 103
5 34
534
697$
Last Sals 97
Last Sale 2*8
Last Sale 20
121
__
Aug* 10
64
125*2
Do pret
1.W1 Ohio Pneumatic Toot. 100
29 Chicago Telephone... 100
Do
rights....
*‘36 Chic Tune A Treat... 100
402 Oommonw* th- Edison. 100
Do
rights
Corn Proa Ret Co com...
Do
do
pret....
183 Diamond Match
100
2,858 Illinois Brick......
100
Masonic Teinpie
Apr* 10
90*2
69
21
112
122
♦lii
111
11578
Feb'10
Nov'lO
90*2
64
97
*
178
179*4 179
181*2 *180*2 182
*119*2 11934 *119*2 H934 *11912 11934
103*2 103*2 10314 103*2 103*2 1035s
*172
90*2
72*4
68
Do
prel...
100
American Radiator.. 100
Do
pret
.....100
10 Araer Shipbuilding... 100
10
Do
pret.........100
Amor Telep a Teieg.
Booth (A) A Co
100
Do
pret
too
82 Booth Fisheries com....
Do pret
20
Cat A Chic Cantu A D.100
“ioo Chic Brew'g A Mait’g
15*
11534
£.100
.....100
1.685
Feb'08
Last Sale 1*8
Last Sale 17*g
Last Sale 79*4
p tat
10*j 3,075 American Can. ......100
41*8
*150
116
....i*..
160
Miscellaneous
123
2*4
.100
Side Elevated.. 100
Do
Nov'lO
80
Last Sale 45
63
*_..-
*
21
111*1 111*4 ♦ili
*121
122
12034
*120
125*? ♦120
119
119
*11834
.
155
111?
*121
phef
479 south
20 Streets W Stable C
Nov'lO
4U4
123
Last Sale
*150
115
Do
Last Sale 141*2 Nov'lO
Last Sale *
June'09
Last Sale 4
June’09
34
841$
*62
64
Last Sale 47
AUg* 10
1
Hg
Last Sale
Oct’10
34
64
50
40*4
S Kiev*..100
11
l)o
prel -..^^..^.100
Northwestern Kiev... 100
Nov’lO
66
*110*2
Cltjr Ry A Lt._100
pret^..w.^.|00
'lOO iletropol W
Sep’10
Last Sale 126
*78
110*2 110*2
*48
*1
*2
Oct’lO
20
66
101?
*142*2 143
*33 ~
Kaos
Do
80?
80*4
Last Sale 2601$ Nov'lO
131
78
__
3
*123
107$
81*2
"ioo Chicago Subway.^...100
Nov'lO
20
*34
Last Sale 20
Last Sale SO
64
*11
Last Sale 54”$
,
l)o
pro* *..100
390 ChW Rys part ctf
3(650 Chic Rys part ctf * r*...
585 Ohio Rys pan ctf "3"..Chlc Ryt part ctl
47g
47g
Last Sale 22
iMst Sale 75
11*4
105$
805$
40*4
40*2
47$
21*4
11<4
34
64
50
64
*_
6
*19
62
*18
*55
*1I012 in *11012 112 *110*2 112
*141*2 142b *142 142*2 *142*2 143
*33
64
*48
*i
*2
*40
123
27*4
11*2
47$
131
79
— -
90
*._
*70
11
81
10*$
73 V
131
78
78
*70
*19
*62
*52
-
5
2U4
11*3
—
10*4
V-
.
Chicago (Sty Ky.^.^.100
Chicago A Oak Park.. 100
Oct'10
Last Sdie 170
Last Sale 11*
July'10
Last Sate
July'10
90
92
26
26*8
11
H*8
Last Sale 4*2
Sep' 10
2*2
*6
80
26
11
*5
6
55
783$
*1*2
85
26
*5
*62*2
*11*2
10*4
_
82*2
23*g
10*4
5
£2
75
20
62
22
60
63
11*3
*52
77*8
*260
*...
*77
82*2
23*4
10*4
6
*434
22
77
20
*11*2
*6
82*2
2212
235$
10*2
23
*2
*l*a
*6
61*4
....
....
mmmm
—
Security
South Chicago Savings,
300,000
200.000
Washington Park Nat’.l
1,500,000
250,000
-.00,000
100,000
50,000
2,000,000
smith Side State.....*
State Bank ot Chicago..
Stock Yards Savings...
Union Bank of Chicago.
...
Chicago Sav Bk & Tr
Chicago Title A Trust..
11500,000
5.000,000
60,000
Citizens Trust A Savings
Ootonla* Trust A Savings
Cont A CommTr & Sav.
Drovers* Trust A Savings
Farweli Trust Go......
First Trust * Savings—
Guarantee Trust A Sav.
Harris Trust 0b Savings.
Illinois Trust 0b Savings
Kenwood Trust A Savgs
Lake View Trust «kSavgs
Merchants' Loan&Tr Co
Metro poll ta nTrust&Sav
600,000
3,000,000
200,000
1,500,000
2,590,000
200,000
1,250,000
5,000,000
200.00J
200WOO
s.ooo.oOo
750,000
Michigan Ave Tr Co...
200,000;
Northern Trust Co...—
l,500,you
North-Western TrASav ; 200,000
600.000
Pullman Trust A Savgs.
Sheridan Tr A Sav Bank
200,000
Standard Tr A Sav*._._
Stockuaen’s Trust 0b Sav
Union Tru*t Cp—.....
v West’o Trust * Savings
West Side Tr&SavHank
Woodlawn Tr<VSavBsn»
194,357
6
89,000
10.439 Beg. b
a?
'
1,000,000
200,000
;
1,200,000
1,250,000
1,782,614
11
t)J, 0
inly TO, 5
To, 2*2
Q-J Oct TO. 4
Vg-J Oct TO. 1*2
Q-J Oct TO 2l2
Oct
Q-J Oct TO. 1*2
Q-M Sep 30*10,30
Q-M Sep 30*10,2*2
ok
Q-J OCt TO. 2
Q-J OCt TO. 2
J-J July TO, 6
y’lo V.90. p.1277
Q-M Sep 30*102*2
Q.y Nov TO. 1
Q-J Oct TO. 2
Q-J Sep30 10.1*2
Q-J Oct TO. 1*2
Q-J Oct TO, 1*4
Q-J Oct TO, ll2
Q-J OCw. TO, 1
Q-J Oct TO. 2
Q-M
Uct”T0."l*2
Jan
*08. 2
‘10,1*2
TO, 2
V. 89, p. 817
Oct
TO, 3
3ep30T0.2
M-N NOV TO, 3
....
1H Q-J
6
Q-J
us Sep t.*09
12
Q-J
8
Q-M
....
200,000
Wendell state
Central Trust Co of Ill..
—-
Dec
w
....
Oct
Oct
7
200,198
6
6
37,006
See
V. 9*>, p.
150
*7,814
6
1/6,570
None Q-M DecSl ’08.1*2
7
7
938,613
Q-J Oct
TO. 2
112,944
6
1H
Q-J OCt TO, 1*2
6
6
II,543,802
Q-J Oct. TO. 2
4
4
A-O Oct9, 10,3
1/7,188
459,366 8+2
8+2 Q-J Oct TO, 2*2
444,155
123,963 ~7H “F
Q-J Oct''TO.Y"
2
1/183,929
Q-J Oct. *10. Hi
3,165,066
U
Q-M Sep30'10, 4
1/14,619 Incorp orated 1908 V.87,p.1138
6
1,471,163
9H Q-J Oct TO. 3
8.609.829 16+4 16 + 4
NOV 19*10, 1
7
0
69,499
OH QJ Oct TO,
41,792
5
4H
Q-J OCt TO, 1*2
12
6,012,401 ; 12
Q-J Oct TO, a
t»
226,783 L 6
Q-J Sep 30 10,11,
1/50,000 Beg. b us. Oct 20 T 0 V91.P.12S1
8
2,382,905
8
Q-J Oct TO, 2
6
69,040
0
JQ July iO.3
8
233.906 i
8
Q-J Oct TO, 2
1/25,432 Beg b ua J'ly 12 U 9 V 89,n.141
260.075 Comm enced bus. Sept 0 1910
6
J-J
6
luiy JO, 3
....
iditf
148,374
200,000
119.050
50.122
*
6
,
*8 + 2
0
Q-M Sep30'i0.2
Q-J Oct T0. il*
Sep 30*10*2
orvd” prices.
‘jooooo
6
ft
Q ». Oct TO 2
Bid and asked prices; no sales were made on
this day.
f
Nov.
10
(olose
of
business)
lor
national
bbnks
and
Nov.
11
(opening
of
business)
tor State institutions,
t No prioo Friday; latest pried this week, a Due Deo*
31. b Due June; A Also 29% ftt stock,
n Capital and surplus to be increased,
Dividends am paid Q-J.
payments -Q-F. s In addition the equivalent at 4% more came from First Trdst ASaviage Bank. r July 311910. v in addition qthe
Ifom First Trust a Savings Bank,
equivalent or 1%-came
v Prairie Nat. Bank and Western Trart a
Sav.
Bank
latter increased from 11.000.000; v. vl« p, 314.
Vo yif p« 72. 17,
marged
aad
capital
of
x Sept. 119I0o
w See
y Sept. 2 1910$
*
"}*h ^tra
.
Nov. 26
THE CHRONICLE
1910.]
Volume of Business at Stock
Exchanges
1435
Electric Companies
Ohio Edison Co—See Chi
OFt west Pow 5s '46.J-1
• Kings Co El LAP Co 100
Narragan (Prov) El Co.So
TRANBAUTIONi* AT THE NEW YORK STUCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
Bid
•'ago
83V 90V
122
89
40'
73
80
NYA<5
El L APowCo !oo
Preferred
100
United Elec of N J...100
1st g 4s 1949..
J-D
Western Power oom.100
Preferred
.100
...
BaBroad,
Stocks.
Ac..
State
Banda.
Band*.
Weekending
Petr value.
Sham.
Nov. 35 1010.
U.8.
Band*.
—
Saturday
.........
Tuesday..........
Wednesday
Thursday.........
Friday ...........
......
Total
515,855,400
28,028,200
109,404
810,407
835,308
252,870
........
Mondav
$1,200J500
1,981,000
1.640.500
1.518.500
80,188,300
22,763,100
849.000
104,000
79,500
91,000
HOLIDAY
15,981,475!
1,545,500]
1,270,4<8 5112,806.475'
87,895,000
178,413
....
Telegraph and Telephone
Tel eg A Cable. 100
• Amer
81,000
128,000
Central A SO Amer..100
e
Qpmm'i Un Td (N Y>. 25
Emp A Bay State Tel. 100
Franklin
Gold A Stock
81.000
e
8451,500
New York Stock
Exchange.
1910.
1910.
—.
816,187,000
88.347,500
Saturday.
Monday
Tuesday
Wednesday
Thursday
Friday
...
Bond
sales.
Listed
shares.
Unlisted
shares.
Total
Bond
sales.
14,134
829,000
54,000
27,500
45,000
12,338
9,539
38,000
13,184
3.694
75,100
56,92li 0193,500
124,494
47.751
0334,400
8,910
13,025
11,313
25,832
31,074
31,055
23.849
12.812
11,096
12,792
7,357
63,051
$60,000
61,600
112,700
25,000
Outside Securities
Ail
bond prices
now
are
“and interest*
Street Railways
New York City
Bleeck St & Fui F stk.100
Bid
mtge 4s 1950.. J-J
B’y A 7tfi Avestk ...100
2d in tee 5s 1914
52
120
98
1st
140
100
Ust
Dry D B B A B—
95
1st gold 5s 1932...
Scrip 5s 1914
F-A / 30
Eighth A venae stock. 100 200
Scrip 6s 1014
F-A / 95
42d A Or St F'y stk ..100
42d St M A St N Ave. 100
1st mtge 6s 1910.M*S
westenest 1st 5s '43
J-J
Ut 5s 1921
4s g 1940.....M-N
So J Gas El A Trao-100
Gu g 5s 1953...M-S
No Hud Co Ry 6s 14 j-J
58 1025
J-J
Ext 5s 1024....M-N
Pat Ry con 6s 'J1..J-D
2d 6s opt 1914..A-O
85
21
•6
Ust
Side El (Chic)—See Cb
yrecuse R T is '46..M-S
rent P A H 5s 1943.J-D
United Rys of St L—
Com vot tr ctfs....l00
o
100
300
200
To'” *60'
100
100V
G5
Preferred
...100
Gen 4s 1934-—So* Stock
UnltRys San Fran Soe Stk
Wash Ry & El Co
100
e
Ust
Ust
Ust
180
Preferred .........100
j-D
4s 1931
16
^
100
97
167
Con 5s—See Stic 1
ange
Bkin Hgts 1st 5s 1941 A-O
98
Bktn Queens Co A Sub—
e 1st g 5s '41 op '16.J-J
99
elstOOQ5s'4l op’16 M-N
07
Bktyn Rap Tran—See Stk Exc
Coney Isl A Bktyn..If
60
1st cons g 4s 1948..J
Con g 43 1955
J-J
Brk O A N 5s 1939.J-J
O
El
4s—See
Stock
Kings
78
75
20
215
102
75
5s 1944...
1st 4s 1951—See
tv
nrne
a
mv
now
va,
Stainway 1st 6s 1922..J-J
102
102
172
Ust
102
103
” Io5”
list
87
103
92
95
•
j
New orl Rys A Lgt.iou
r Preferred
10C
25
68
106
108
106
100
104
1021
70
81
Ust
85
105V
105
Per share.
0 Basis,
0
e
Preferred
1st 5s 1930.
.100
M-N
Other Cities
Are Gas A Elec com..
......
Buffalo City Gao stk._loo
1st 5s 1047—See Stock
Cities Service Co
..l(X.
Preferred
ioo
Con Gas of N J 6s '36.J-J
Consumers' L H A Pow—
5s 1938
J-D
Denver Gas A Elec
100
Gen g 5s 1949 op.M-N
EUaabeth Gas Lt Oo__100
Essex A Hudson Gas. 100
Gas A EH Bergen Co. .100
Gr Rap 1st 5s '15.F-A
Hudson Co Gas......ioo
Indiana Lighting Co.. 100
4s 1958 op
F-A
Indianapolis Gas
50
e
e
Ladede Gas
e
4H* Jan 1011-1025
N Y N H A H to '10-T2
St L A 3 F 4 Rs'12 op.F-A
5s Uoh 1 1010
M-S
South Ry g 6s 1013..F-A
Tidewater 6s, 1913 guar
Wabash «Hs 101*...M-N
West Tetep AT to '12.F-A
Westlngh'o El AM 63 1913
6% notes Oct 1917.A-O
Railroad
«
Chic Gt Woom tr otfslSee
ePreferred tr ctfs../
Chic Peo A St L—
75
74
Prior Uen g4 Rs'30_ M-S
130
125
Con mtg g 5s 1030..J-J
99
97
Income 5s, July 1930..
101
Oincago Subway
100
109
Kan A Jot Pac 6s 1938.F-A
98
Nat Rys of Mexico—See S
115
North'd Securities Stubs.
99
101
Pitts Bees A L E
50
list
icago
Preferred
50
loo
1021*
Railroad Securities Co¬
07
lli G stk tr ctfs ser A 52
Seaboard Company—
9
#2
1st preferred,
100
41
Com A 2d pref—See Bal
Exo list
Seaboard Air LinoExo list
Coil to ext May '11. M-S
321*1 331* West P&o 1st 5s '33..M-S
86>* 871*
82?* 831*
Mining.. .....25
AlUanoe Realty......100
101
Exe
165
102
US
118
90
90
99
93
97
20
28
65
65
96
103
0
•
13V
79*4
*lh
80
90
146
Preferred
Gold 4*4* 1030...J-D
823«
•Mmbm
Electric
Boat........100
Preferred .........10o
6V
To
Empire Steel
too
Preferred
too
55
•iGeneral Chemical
10o
94
• Preferred
.......too TOO
Goldfield Con Mines See S Hr Ex
Gold HUl Copper ..... 1
**2
Groene-Cauanea
20
*7*8
....
American Book.,
American Brass
100
V
95
Exc
ATGf&WIndSSL’nes.lOO
100
list
312
Exo
60
79
90
102
190
90
300
134
78
iSS
33
64
4V
list
62
82
96
2f0“*
137
80
101
lS
66
11
80
6
Preferred
Ool tr g 5s 1959
iou
J J
Barney A Smith Car..100
Preferred
100
Bethl’m Steel Corp—See S
Bliss Company com.. 50
Preferred
50
Bond A Mtge Guar
100
Borden’s Oond MUk..lOO
Preferred .........ioo
British Cot Copper...
Butte Coalition Mining 15
Caaeln Qo of Am oom.100
Preferred
100
Casualty Co of Amer.. 100
Oeflulold Co...
.100
Cent Fireworks com-.100
...
Preferred
......loo
Central Foundry.....100
Preferred
100
Deb 6s 1910 op '01.M-N
92V Chesebrough Mtg O0..IOO
107V 107V Chino Copper Co....
6
102
City Investing C0....IOO
103
108
130
00
lua
104
110
70V
88
88
100
90
lasrnh Gas 5s t9S».T L-i
Sells on Stock Exchange, btft not very* active'
Preferred
9
**...100
Claflln (H B> com..100
e 1st pref erred-....100
• 2d
preferred..... 100
Col A Hock CoalAl pf 100
1st g 5s 1917
J-J
Col tr 6s Oot 1956..J-J
sol Car Heating...100
nsot Rubber Tire..J Oo
gn=tcrSl
price/
185
Hackensack Water Cd
Ref g 4s '52 op '12..J-J
HaU Signal Co com. .100
fiavana Tobacco Co..ioo
99
107
96V
m
40
75
28
99
99V
93V
*1
103
102
28Vj
Nipissing Mines..
a
78V Ohio Copper Co. ..._10
Ust
100
94
90V
190
115
152
»
7^
195
KX6
40
7
45
110
93
160
.........
0 Ontario S lver
Otis Elevator
Preferred
com
.....
5
120
225
104
EXO
45
91V
86*4
250
250
145
45
"Tv
65V
103V
8
22
115
107
105
lX)7g
IV
60
fist
36'”
80
210
6
102
2V
23V
41V
UBt
00
19J
105
13712
p
350
7
South Iron A S com .*100
Preferred
lOu
15
Standard Cordage....100
1st M g 53 '31 red. A-O
15
Adjust M 5s Apr 1 1931
3
Standard Coupler com iou
Preferred
.100 100
5V
Standard MiUlng Co..loo
420
16
Preferred
43
luu
52
1st 5s 1930
M in
100
84
Standard OU of N J..100 610
100
3V Swift A Co—S00 Bost Stk Exc
1st to—S'e Chic Stock
30
Exc
Texas Company—See Stk Exch
89
0 Texas A Pacific Coal 100
978
95
19
"20
Title Ins Co of N Y...100 132
68
6912 Tonopah Min (Nevada) 1
*8V
32
Trenton Potteries com 100
4
90
98
Preferred, new
loo
45
tk Ex Bat
Trow Directory
100
30
124
130
underwood Typcw
00
100
118
Preferred
122
100
99V
250
Union Typewriter comiou
45
123 125
1st preferred
,._lou 104
108
2d preferred
108
iou 103
*6V 6V United Bk Note Corp. 50 *49
*19
Preferred
50 ♦50
21
3
61
3*4 United Cigar Mfrs..„.100
55
0 Preferred
GO
ioo X
125
United Copper
185
ioo
4V
130
Preferred .........100
135
10
U S Casualty
100 200
U S Envelope com...100
50
Preferred .........100 111
U S Finishing ...
100
06
Preferred
40
1 35
......loo 106
700
J-j loo
lstg to 1919
Con % &s 1929
•24V "24V
95
.J-j
61
U S Steel Corporation—
63
Col tr s f 5s *51 opt 'It
101 105
114
105
Gol tr s f 5s '51 not op 114
U S Tit Gu A Indtm..lOu
96
....
93
•Utah Copper Co—See Stk Ifixc
Westchester A Bronx Tit
45
A Mtge Guar......lOof 165
45
Westingn'se Air Brakc.5t»
40V 42V West £3 A Alfg 5s—SoeStu texe
3
4
Worthing Pump pref. 10# 103
102
100
list
102
70
210
IOU*
105
148
123
200
108
139
75
120
.too
112
140
225
120
ioo”
144
...
113
68
loo
Safety Oar Heat A Lt.ioo
Seneca Mln'ng
25
Singer Mfg Co
10u
95
8
52
52
98
Realty Assoc (Bkiyn).lOo
Royal Bak Powd com.lOU
Preferred
92V
49
98
*23V
40V
Pittsburgh Coai—See Stk
Pope Mfg Oo com
.100
erred..
...100
Pratt A Whitney prel.100
29
too
Uft
150
1078
IV
2
6u
Producers OU
125*
iou
100
iou
4-
*iV
*10*4
Pittsburgh Brewing.. 5o
Preferred
♦
12
53
15
62
100
55
8
...
77V
84V
841*
103
35
4
Preferred ...
10J
1st g 5s Juue 1 *22 J-D
d5cker-Joaes-JeweU Mil.
1st 68 1922.......M b
HeFg-Halt-Mar, new.100
douotren Land a imp 103
1st 5s Nov 1030.
Houston 01
16t|
Preferred
iou
Hudson Realty
10U
»Ingersolt-Hand com.ioa
sT*referred
iou
mterconttn't'l Rubber. 1 Oh
U
Exc
ih
91
149
88
35
6
12
59
85
20
(nternat'i Bank'g Co. 100
90
internat" Mer Mar—See s tk Bi
international Nickel.. 10tf 140
99*8 100
Preferred
98
.IQti
90
98V
1st g 6s 1032
A-t>
93
98*4 99
international
salt
0
.100
96V 97
1st
99
1051
g
5s
A-O
98V
97V 97V International Si' ver_.10O
Preferred
100
100
107
100V
1st 6s 1948.
J-D 110
Internat
Smelt A Ketg ioo
130
98V 99V
98V 99V mtemat Time Record. 10J 190
Preferred
100*8 lU0*s
loo 112
98V 99i Jones A Laughlln Steel Co
1st ■ f g 5s 1939..M-N
99*8 99?
100V
64.60 4.20 5Lackawanna Steel
100
40
e 1st con 5s
64.60 4.20
85
1950...Me Deb 38 1915
100
101
M86
97*8 97.8 Lanston Monotype
100
97V Lawyers Mtge Co
100 243
96l
981
98V Lch A W likes- B Coal 5U 200
101
IOU m
lOlij 0 Lortliard (P) pref
97
35
Madison Sq Garden.. 100
2d 68 1919
M-N
85
Mi* 100
10U
100 V Manhattan Transit... 2u
*1V
100
53
May Dept Stores
100
Preferred
....100 102V
*
Monongabeia R Coal., ao
7*8
Stock Exc
Preferred
30 * 21
Ust
Mortgage Bond Co
iou
113V
Nat Bank of Cuba....100 103
Nat’l Surety...
J 90
94
lOu 1185
0 Nevada Cons'd Copper 0
*20V
Nev-Utah Min A Sm. 10 ♦lVe
0 New Central Coal
6
2d
SO
109
NY Air Brake 6s—See Stk Exc
111
t Exc Ust
N Y Biscuit 6s 1911. M-S 100
100
100
112V • New York Dock
• Preferred
*31
100
33
*70
N
Y
Mtge
74
A Security-100 200
N Y Transportation.. 20
*4
90
NUes-Bern-Pond com.lOo
97
,..,.,oo
A-oi;
►4* 10*1
n
GuggenheimKxplor'n 100
As)
13V
0
30
65
26
95
luu 1*0
American Chicle oom.iou 222
175
Preferred
ioo lotv
Am Graphophone com ioo
5
10014 1011*
Preferred
6.100
20
102
104
Amer Hardware
100 122
100
98
Am Malting 6s 1914..J-D 100
40
50
Amer Press Assoc'n._loo
95
Am St Found new—See a tk Ex
6e 1035.
10114 103»*
A-O 100V
98
100
Deb 4s 1923
F-A
6J
55
American Surety.
50 205
85
American Thread pref
5
*4V
104
Am Tobacco Co com..100 415
Amer Typefders com.100
4J
Preferred ...
100
98
*51
53
Deb g 6s 1939
M-N
97
*41
41
Amer writing Paper..100
2V
291
2921*
Preferred
100
29V
104
102
lsts (g 5s '19 op '09 J-J
88
1 88
...100
Bid
and Mscei
.....
112
60
Industrial and Miscel
Adams Exp g 4s 1947 J-D
preferred .......100 s97
26*8 Vlad Ison Gas 6s 1926. A-O
67
Newark Gas 6s 1944.-QQ
Newark Consol Gas..100
• Goa g 5s 1948...J-O
Np Hudson L H A Row—
to 1936..
A-O
Pacific Gas A E, oom.100
Preferred
IOO
Pat A Pas Gas A Etec.ioo
fOpn g to 194t_..M-S
Gwi M g 4>4S '85—6ee fc tfc Ex
dst
Pub Serv Corp of N 3
113
115
Trctis 2% to
90
101
North-Jersey St y.100
5°
1st 4s 1948,.
M-N
74
76
•
New Amsterdam Gas—
1st consol 5e 1948..J-J
NYAERGas 1st 5s '44 J-J
Consol 5s 1945..
J-J
N Y A Richmond Gas. 100
N Y AWestcbesterL'ht'g—Deb g 5s 1934 guar.J-J
Nor Un 1st 5s 1927..M-N
e Standard Gas com..100
Brooklyn Un Gas—SeeStk
Exc
101
CoLum Ry con 5s—See Ph: la Ust
l
Crosst'wn Ht 5s '83 J-L 100
• Conn Ry A Ltg com.lOU
75
:
«Preferred .......10€
79
I 1st A ref 4*4s—See Stk Exc
Grand Rapids Ry pref .10C
88
• Louisv St 5s 1930
J-J 104V
Lynn A Bos 1st 8s '24 3r-C 104
New York
Gent Un Gas 5s 1927 .J-J
Con Gas (N Y)—See Stk
100
list
list
105
103
236
102
dethleh Steel os '14..M-N
Chic A Alton to T3
M-S
Ota Ham A D 4s 1013.J-J
C C C A St L 5s. June '11
Hudson Companies—
6s Oct 15 1011
A-O
6s Feb 1 1013
,._F-A
lnterb R T g 6s 1011.M-N
& C Ry A Light 6s '12.M-b
Minn A St L g to '11.F-A
t N
Y C Lines Bq to '10-22
85
120
50
1020......M-N
Ah meek
80
99
Other Otties
Buffalo Street Ry—
1st consol 5s 1931..
i
I
Deb 6s 1017
1061*
76
104
107
245
Gas Securities
50
Preferred
50
Amer Light A Tract. .100
Preferred
loo
so
Bay State Gas
Blngb ton (N Y» Gas Wks
1st g 5s 1988
A-O
101
75
83
95
Exc
73
103
A*k
^
58
130
85
92
list
80
85
Brooklyn
Atlan Avenue RR—
Con 5s g 1931
A-O
B B A WE 5s 1933..
A-O
J O Hob A Paterson—
90
100
40
300
2d Income 6s 1915. J-J 1
Inter- Met—See Stk Exch ange
Lex At A PavF 5s See Stk Exc
Metro pal St Ry—See Stk Exc
Ninth Avenuo stock
100 155
Second Avenue stock. 100
10
IstM to’09ext'lo.-M-N
09
Consol 5s 1048
F-A 1 52
• Sixth Avenuo stock..100
115
Son Boulev 5s 1945...J-J
60
So Per 1st 5s 1919...A O
88
Third Avenue—See stock Exc
Tarry W P A M 5s 1926 1 60
YkersStRRSs 1946 A-O
80
28th A 29th Sts 5s '96 A
;*10
Twenty-third St stk..100
Union Ry 1st 5s 1942.F-A
Rapid Tran St Ry..l00
105
mm*-*
Bid
Pub Serv Corp N J {Corn
Cons Tract of N J..100
1st 5s 1933
j-D
Now’k PasRy 5s '30 J-J
22
60
Con 5s 1945—See Stock Exc
B'way Sort 1st 5s gu 1924 102
Cent’l Ccosst'H stk ...100
1st mtge 6s 1922..M-N 1 80
Con PkN&SR stk ..100
15
Chr*t’r A 10th St stk..100
75
Oot A 9th Ave 5s See Stock Exc
where marked i.'
Street Railways
Ask
16
except
1st to
Short-form Notes
Am Ctg ser A 4a 11..M s
Ser B 4s Mch 15 *12 M-S
Bait A Ohio
191:.J-D
8,444
13,433
16,152
12,684
HOLI DAY
.........
e
Philadelphia.
Unlisted
shares.
67
65
1st mtge 5s 1019..J-D
Union Ferry stock..100
$576,350,9501 81,194.691.200
Boston.
Hated
shares.
661*
40
110
Ferry.100
.......
77V
41V
75
Southern A Atlantic.. 25
1909
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES.
Week ending
Nov. 25 1910.
Tetog.109
5,006,040
153,164.367
194,417,200
8112,806.475 8435.231,150 813.674,811,975 817,803,376.750 N Y A E R
Ferry stk.100
85,200
816.200
81,057,300
8178,450
1st to 1922...
M-N
N Y A Hob to May '40.J-D
8500
81.000
8354,200
$702,700
Hob FY 1st to 1046 M-N
530,500
451,500
39.463,050
34,740,900 N Y A N J to 1046.,. J-J
7,895,000
15.656,000
536,533,700
1,159,247,600 10th A 23d Sts
.........
78
85
7***
40V
118
105
1,276,408
Stocks—No. shares...
Far value
Bank shares, par
Bond*.
Government bonds
State bonds
RR. and misc. bonds.
Total bonds
1909.
100
Northwestern Teteg. 50
Pacific A Atlantic.... 26
«Pao Tetep A Teieg pf.ioo
Jan. 1 to Nov. 25.
Week ending Nov. 25.
l&
50
Industria
Crucible Steel
__1Ch
0 Preferred
.......100
Davi> Da y Copper Co.lo
0 Diamond Match Co. 100
duPonttEUdeNemP* loa
0
.......
e
Sate* at
Ask
list
78
365
10
18
17
4
40
.....
...
*8
_
....
,
*18”
~x£~
615
Ust
list
list
100
138
P
55
'62"’
100V
49
108
107
52
52V
63
105
5*4
20
220
114''
100
111
LU6
100
114V
114V
99V
list
170
142V
tot
105
22
40
42
Nominal.'' "Ysale price."
* New stock,
x
Ex-dlv.
v
Ex-rights
BOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and Yearly
SHARE PRICES—NOT PER CENTUM PRICES
STOCKS
BOSTON STOCK
EXCHANGE
Sales
of the
Saturday
Monday
Nov. 19
Tuesday
Nov. 21
Nov. 22
Wednesday
Thursday
Friday
Nov 23
Nat) 24
Nov 25
Week
Shares
Lowest
.
10334 10334 1035s 1035s
*10034 101*2 *10034 101*2
*222
12912 129*2
*216
127
300
*16
*70
127
300
16*2
72
10
41
160
115
270
*40
*166
*113
*
*____
*____
87
*
-
*216
125
♦
*128
118
88
2034
88*4
143*2 163*2
*139
*212
*186
141
38*2
190
39
107
*
_
300
‘16*2
-
72
10
41
159
_
*88
153
*139
*212
186
*37
*106
15
*70
*
*40
270
131118
88
*209*2
20*2
*
113
*
131
*
Yo%
105
*44
45
90*2
101*2 101*2
434
434
16
101
*47s
15
15
118*4 118*4
117*2 117*4
142
142*4
35
93
10
20
*92*2
*157
90*4
35
93*o
10*8
*
113
*265
*128
*117
88
131*2
141
*139
37
*106
*
177*8
Yl”
104
45
101
5
15
44*8 44*s
100l2 101
47«
478
15
118
177*2
*92*2
93
*157
90*2
104
*44
100
45
118
117
117*4 117*4
142*4 1427«
143
36
94
Yl
288
*164
90*4
93*2
288
287
15412
9034
93*2
16434 1565g
90
90*2
93
933s
*224
*5
225
*109*2
111
112
*136
*1934
*5*2
534
288
*224
5
112
♦
136*2 136*2
*94
164*4 165"
27
31
27
187*2
66*2
28*2
81
*117*2
*17
*90
118
18
91
*90
8*2
44
7
112
110
18
7
*90
8*4
10
10
4378
69%
29*4
44%
70%
30
17*2
7%
17*2
7%
8*2
*10
43*4
69%
29*2
*17%
’•■2
*
*1634
7*4
17
20
20
7
20
54*4
55*i
65%
600
*18
*.05
72
*3*4
12*2
7*i
600
19
.08
72
4
590
18
*.05
*71
8
26*2
*17«
15
13*j
11%
7%
45
8
26*;
2
15
7*2
*3*4
88*4
7*2
*8*2
7%
2578
*134
8
26
2
14*2
20*2
7*2
3%
15*?
*.40
20
4*2
4%
50
48
20*8
*4*2
35*4
8
*7
*.50
*42
11
36*
8
8
.75
*130I2 1ST
*12*4 14
78
;
205s
*1*2
13*2
*1%
48
'
*7*4
1412
62
*5*2
1712
48
*812
*24
60
*2*2
9*8
*125
20*4
4%
1078
85*4
8
*7
*.50
*13
78
2078
*1%
13%
1%
48*2
7%
1*4
13*2
1*2
48*2
8
14*2
62*2
Jf*2
61
6
6%
8712
86*4
47%
48
3
24
8*
25
5012 *49%
8
*2%
10
0%
128
*125
*1%
ulr«d
*378
13
.20
11
7%
45
93
112
110
15
118*2
287
158
90*2
93
*224
*5
112
91
90
8%
10*2
43*4
*8
11
70
69
29
.55
17
4
13%
.20
11%
7%
♦19*4
4%
1%
15*2
10*2
35*2
8
*__,
.50
1078
35*4
8%
8
.50
14
77
14
77
21
21%
1*4
13%
1*2
48%
7%
14%
*1%
1%
13%
1%
48
48
61
7*4
14*2
7*4
14*2
60
60
6
6*2
20*4
1%
13%
*5*f
37*4
86*4
47*2
46%
*3
8%
24*4
24*4
50% *4978
8
2*2
9%
9*2
180
1%
*3
36
7*2
*126
1%
87
1%
284
20*8
4*2
137*2
93*4
165
*12*2
103%
*31
*27
104
"90‘
20*2
1*8
127s
1*4
47*4
*7*2
14*8
*60
6*2
84
< L26
»1*2
17*4
7
7
Last Sale .50
Nov’10
*16*2
17
6
6*4
55
2575
55*4
575
17*2
Last Sale .05
71
43
7%
8
2
15*4
19*2
7*4
3*4
—
,
37
8
10
20*8
4*2
4*8
4%
107s
r8
85
7%
8
50
20%
_
"40 Fitchburgr, pref.
Hi00
Ga Ry & Electric
100
Do
”45
pref
.....100
Maine Central..
10Q
2" 400 Mass Electric CosIIIIlOO
Do
332
pref
100
.
379
“ N
*H
Hartford.10#
5
Northern
.100
Noprtch & Wor
pref-100
65 Old Colony.*
.....100
130 Rutland pref
~100
61 Seattle Electric
100
Do
Union
Do
pref
Pacific
"356
pref...
Vermont & Mass.
West
End
St
1,189
Do
94
pref
....
.
100
10O
joo
100
60
50
*13
*73
21J4
1%
1278
47
7*|
14%
14
60
61
5*2
Last Sale 41
14
76
21%
1%
13%
47
7*?
14*4
60
6*2
Oct’l.
84%
46%
2%
35%
___
Highest
J’ly 26
Aug 2
234
J’ly -7
22/
152
3 0
Nov21
Oct 4
J’nelo
J’ly 21
Mch-jo
Aug 29
Sep 16
Oct 3
Oct 13
104
85
3
8
Jan
Apr
Feb 10
14% J'ly 26
75
J’ly l
149
Apr 28
202
139*2 Mchll
99
Maylu
Sep 14
May o
Aug 18
Aug 2
J’ly 26
J’ly 26
Oct 15
Sep 26
j'ly 6
36
J’ly 27
210
181%
25
103
98*4
153%
89%
151
83
98% Mch3i
4% Aug 2
14
J’ly 15
ill
Oct
3
111*4 Oct 3
127% J'ly 26
26
J’ly 7
5,822 Amer Telep & Tdeg._100
150 American Woolen
100
Do
91
404
pref
J’ly l
100
7
MchlS
120 Atl Gulf ds W I S S L.100
Do
16
May 10
830
pref
...100
50 Boston Land..
10
4*2 J’ly 28
Cumb Telep & Teleg.100 138% J'ly 28
East Boston Land...
7% Apr 14
Jan 26
90 Edison E'ec Ilium.. 100 /i239
135
417 General Electric
J’ly *6
.100
76% Feb 8
2,703 MassachusettsGasCos 100
Do
89
May 16
348
100
pref
39 Mergenthaler Lino ..100
214% Jan 4
2% Jan 3
21 Mexican Telephone.. 10
107
Sep 22
207 N E Cotton Yarn....100
Do
pref
5
100
99% Aug 3
N
E
289
Telephone
100 129*2 Aug 17
75 Pacific Coast Power.. 100
93% Nov2o
Pullman
Co
271
.....100 153 J’ne3u
15 Reece Button-Hole.. 10
11% Jan 15
637 Swift & Co
......100 100 Jan 24
28
Mch3u
175 Torrington
25
Do
27
Jan 18
73
25
pref
United
Fruit
165*2 Jan 15
100
1,566
865 Un Shoe Mach Corp.. 25
46*4 J’ly
Do
216
25% J'ly 9
pref
25
01% J’ly 26
100
15,074 U S Steel Corp
Do
pref
432
..100 ill J’ly z6
West
14
Feb 14
15
Telep & Teleg.,100
Do
81
pref...
Aug 15
20
....100
_
-
Mining
935 Adventure
Con...... 25
1,365 Aigomah Mining
....25
...
667 Aliouez.
25
6,187 Amalgamated Copper 100
1,050 Am Zinc Lead & Sm.. 25
Anaconda
25
l’075 Arizona Commercial. 25
25
315 Atlantic
Bonanza Dev Co
10
....
....
'200 Bos&CorbCop&SllMg
3,695 Butte-Balaklava Cop.
535 Butte Coalition
254 Calumet & Arizona..
47 Calumet & Heda___.
145 Centennial
Cons Mercur Gold....
5
10
15
10
25
25
1
Copper Range Con Oo 100
...
350 Elm River..
12
25
454 Franklin
5
1,067 Giroux Consolidated.
505 Granby Consolidated. 100
20
1,800 Greene Cananea
610 Hancock Consolidated 25
Helvetia
140
Copper..... 25
835 Indiana Mining...... 25
972 Isle Royale Copper.. 25
655 Kerr Lake
5
115 Keweenaw Copper... 25
Lake
Copper Co..... 25
1,207
577 La Salle Copper..... 25
2,725 Mass Consol......... 25
100 Mayflower ......... 25
Mexico Cons M d> S._ 10
"490 Miami Copper....... 5
100 Michigan
25
114 Mohawk............ 25
...
5
1,266 Nevada Consolidated.
425 New Arcadian Copper 25
667
Nlpissing Mines
5
Old Dominion Oo.... 25
25
'iso Osceola
40 Parrot Silver 4s Cop. 10
25
63 Quincy
4,071 Ray Consol Copper.. 10
100 Santa Fe Gold £ Cop. 10
............
...
...
10
1,195 Shannon
585 South Utah M & S...
5
...........
Superior............ 25
Superior 4s Boston Min 10
1.486 SuperiordsPltts Copp. 10
965
195
145 Tamarack
1 65 Trinity
..........
....
25
25
U nltedSta tee Coal 4s 011 25
8~780 U S Smelt Ref 4b Min. 50
Do
50
4.142
pref
J’ly 13
10
Sep 21
31
J’ly 13
66*4 J’ly 12
19% J’ly 26
36
J'ly 13
12% May
4
_
5
JbO
10
J’ne30
Mch
May
4% Nov
16>« J’nejo
44*4 J’ly 12
500
J’ly 6
13% J’ly 15
.04 J’ly 6
68
Feo 17
3*z Sep 28
6% J’ly 13
.05 Oct 11
9% J’neao
6
J’ly 26
J ’ly
20
6% Sep 29
14*4 J'ly 19
1% Oct 27
10
J’ly 18
13*2 May 3
.
_
Sep 1
J’ly 7
28*2 J’ly 15
7% Nov 17
x6
3
4% Mch 8
Oct 21
NovlS
17
J’ly 18
37* J’ly 12
43
J’ly 26
17% J'ly 6
3% J’ly 13
9% Jan 17
18
J’neoo
6% J’ly 13
5
Sep 7
.26
Aug 9
.35
.01
19% J'nel6
114 J’ly 27
12
J’ly 6
66 J’ly 5
15% J’ly 1
1% Sen 29
8% J’ly 5
1% J’ne30
36
J’ly 19
7% J’ly 14
9
J’ly 5
45*2 J’ne 22
4% J’ly 18
83
Mch 31
83*2 J’ly 20
45% J’ly 20
6
650 Utah-Apex Mining...
2*2 J ly 22
24
24
5
446 Utah Consolidated...
18% J’ne30
*49%
35
Utah
49%
Copper Oo..... 10 A39% J’neSO
*2%
150 Victoria
2*4
20
2*2 J’ly 22
9**
210 Winona
25
9*2
6 J’ly 13
Last Sale 128
Nov’10
Wolverine
25 102 J’ly 12
"soo Wyandot
25
1% J’ly 26
»’t paid. 9 Ex-stock dlT. h
Ex-rights, a Ex-dlT. and rights.
47
3
Lowest
...........
..........
..........
123% Jan
104% Jan
J’noiO
Aug 2
124% Sep 21
Miscellaneous
60 Amer Agricul Chera.,100
Do
pref
552
300
305 Amer Pneu Service... 50
Do
pref
220
50
234 Amer Sugar Refln.__.100
Do
pref
288
ioo
33
335
Range far Previous Year
(1909)
Highest
Railroads
_
35*4 3.746 North Butte........ 15
445 North Lake......... 25
7*4
8
10 011bway Mining..... 25
.60
200 Old Colony.
25
♦.50
Last Sale 42
Nov’10
129
129
8
1*4
7*2
24*4
20*g
4*2
48*4
20*4
10*4
1*2
47*2
130
7%
44
*.40
.61
Last Sale .03
Nov’10
13
49*4
2*4
9%
.
....
7%
20*4
1*8
8
24
.
45 Atch Top & Santa Fc.tOO
01%
Do
30
pref
100
97%
230 Boston & Albany.___ 100 2l8
698 Boston Elevated
100 x\12
Boston & Lowell
100 *00
"264 Boston «fe Maine
100
121
4 Boston & Pro vldence_ 100
285
40 Boston Suburban El Cos.
14
Do
50
pref
70
Boston & Wore Elec Cos.
8
Do
"56
pref
35
Chic June Ry & fjsy loo 139
Do
"49
prel
100 109
Connecticut River100 260
Daly-West
20
334
13*4 14,911 East Butte Cop Min.. 10
13
50
86*2
46*2
17*2
Nov’10
71
3*4
9%
8*4
130
*13
*75
Nov’10
36*2
8
*41*2
8*4
11*4
43*4
70*4
29*4
*16%
20%
8
.60
42
130
14
76
56*2
28*4
80*4
118%
90%
8*4
11*4
43*4
69*4
29*4
*3
l£|
35*2
*7*2
13%
104*4
31*2
29
198
66*4
28*4
79%
118%
*1*4
*14*4
19*2
7*4
20*8
4*2
10*4
34*4
*.50
94
137*2
93*4
24
76s
3*4
36*2
7*2
20*8
*4
>
25
2
15
20
159*2
90%
226
5
112
165
11*2
7*2
44*4
7%
10
47%
45*4
8
3%
24
24*4
50% *49*4
2*2
*2*4
9*2 *9*2
ISO
Nov'10
.20
9
*.50
*48
____
*41*4
129% 131
14
78
19
20%
4*2
60
13*s
*7*g
.50
20%
13
.15
*11
7*8
24*2
♦1*4
14~g
26
49
378
44
7%
20%
3*4
7*2
45
7*2
3%
36*4
7*2
9*8
6*2
94*g
10*8
20*2
226
5
112
29%
16*4
35*o
7
Nov’10
89*8
93*4
43*4
6978
20
55
590
590
17*4 18
♦.05
.08
71
71
56
600
18
.08
71
20
*6
Last Sale 145
Last Sale 9*4
284
159
11
1634
6*2
19*8
54*4
678
20*4
7*2
3%
36%
7*2
8*4
14278
90
7
*.50
15
118
117
9034
93*4
17
7
.55
100*_
478
142%
*34*2
9378
10*8
20*4
112
110
16*8
177*2
117
Last Sale 43
17*2
7*2
153*0
Last Sale 92
Nov’10
Last Sale 157
Nov'10
THANKS¬
90*4
90*4
105
105
GIVING
DAY.
*44
45
5*4
43*4
29*2
153*2
226
*
15
20
.50
20%
4*2
8
8
.60
5434
1%
38
8
9
.50
4*4
10%
36*2
20
25
7%
3%
49
21
634
7%
21
*42%
*130*2
78
21
♦1*2
1%
Bid
„
45
*8*2
*.40
11
13%
11%
7*4
45*?
37
8
.50
*1634
600
*17
*.05
71
37«
_
20*4
*49
600
18
.08
72
378
13%
11*4
P
16*4
7*4
20*4
55*2
16*4
.30
*.20
90*4
87
478
*1412
11712
117
*-...
156
224*2 22412
*5
5*2
91
8%
44
17*4
225
5
112
110
137
287
157
87
100*8
136*2 136 *2 137*4 138
*94
95
*__
*93*2 95
165% 165*2 16478 165
16412 165
*12
12*2 *12
12%
12
12
103% 103*2 103*2 104
1037s 104
31
31
31
*31
31*?
31*2
27
27
*26*2 28
*27
28
187
188
188
190
18934 194
56% 56%
56% 56%
55*4 56*4
29
29
29
29
29
29%
7978 81%
79% 80%
79*8 80*8
118% 118% 118% 118% 1177s 118*8
*17
18
*17
18
1712 17*2
*12
*103
*30*4
287
156
90
93
20
5
142*8 1427g
*34*2 35
9384 94
934 10
20
20*2
“93*2 "94"
*19*4
100*2
10*8
9*2
9*2
20
20
20*2
*6*2
6*2
6*2
0
*5*2
0
6*2
*147
163*2 *147 153*2 *148*2 153*2 *148*2 153*2
9
9
*8*4
9*4
*8*4
*8*4
*8*4
9
20
128
Nov’10
Last Sale 216
123
123
*295
*15
16*2
72
72
Oct’10
Last Sate 10*4
41
*40
Last Sale 156*s Nov'10
*113
115
Oct* 10
Last Sale 260
131
131
Nov* 10
Last Sale 118
88
88
Nov'10
Last Sale 210
177*2
93*2
105
*47s
*14*2
15
118
39
108
103
178
104
10334
1015$
223
128*2
Nov’lfi
Last Sale 140
Last Sale 210 June’10
*187
189
*35
39%
107
107
Last Sale 102
Nov'10
141
187' 187*
186
38
108
103
104
118*4 11834
117*4 118
142
*35
93
10
74
10
40
160
113
270
131
118
88
40
118
*87*2 88
*139
*212
186'
185
38
38
107*2 108
*
103
178*4 177
*44*4
'l0*2
♦
*209*2
20*4 *1934 20
88
87*2 877g
162*4 153*2 153 153
141
Yl "
12234 123*2
*295
*15
*70
*103*4
*100%
22212
20
88
8834
15334
♦157
90
103
125
300
15
74
10
41
160
114
270
♦209*2
102*4
178*4 178*4 177*4
*92*2 93
*92*2 93*2
*167
90
*103
*218
122*2
*157*2
113*2 113*2
87*2
103*2 *103*2 104
IOH4 101*4 *100*2 101*2
222
222*4 222*4 222*4
128*2 1285s 128*2 128*2
223*4
129*2
*40
13H2
*209*2
2034
*_—.
222
129
*216
121
♦295
*15
*70
*103
Range Since Jan. 1
.
3
7
Jan 10
136*4 Jan 6
Feb 24
Feb
2
Nov 3
16% Nov 18
76
Apr 1
10% Sep 30
48
Jan
3
150% Oct 15
118
270
Jan
6
Mch 16
3
123
Oct 27
90
Oct 14
210
Oct ly
22i« Novl6
133*2 Jan
88% Novi/
162% MrU 14
14o% Aug 25
212
200
Mchxb
Jan
44% Nov
116
106
jan
Mch
204% Jan
103% Jan
168
Jan 17
96% Mch 8
109
Feb 10
49% Oct 20
Sep 26
87s Feb li
106
24
Feb 11
127% Mch 2
124
Mch 2
14378 Nov 4
39% Mch 19
104% Mch23
11% Jan 7
28
Jan
6
8% Jan 11
152% Mch 3
11% Jan 3
292*2 Nov 16
160*2 Jan 6
91% Nov 16
97
226
Men 18
Nov 14
6% Mayio
124
115
Jan 3
Jan 11
138% Mchll
Jan 5
Feb 11
Oct 3
109*4 Jan 10
100
200
14
34% Jan
3
May 6
200 Sep 10
71*4 Apr 18
31
31
Jan
90*4 Jan
125% Jan
19% Sep 30
94
Jan
10
Feb
Jan
98
100*4 Jan
Jan
124% Jan
223% Dec
132% Jan
295
Sep
1134 Jau
60*2 Jan
May
10
46*2 Dec
Jan
143
Nov
115
Jan
267
128*2 Nov
Jan
76
Jan
79
Oct
195
11% Jan
68*2 Jan
Nov
H163
Feb
146
200
Apr
Dec
190
26
Apr
90% Mch
225
97% Apr
*1727f Feb
93% Mch
Jan
Jan
Oct
165
88
102
33% Jan
Jan
5% Jan
Jan
13
94
Nov
Nov
X114
*117
126%
27*2
93*2
4%
15*4
3*4
126
7
246
Feb
Feb
Jan
Apr
Apr
Apr
Jan
Jan
Jan
160% Feb
69
Jan
Jan
89
202% Men
2
68
93
Jan
Apr
Jan
126% Jan
75
Feb
168
Jan
9% Jan
100
Jan
20% May
24% Jan
126*2 Jan
x54
Mch
28*2 Jan
41% Feb
107
Feb
6% Jan
76 Mch
478 Oct
14% Sep 15
Feb
90*4 Jan
5a
40% Jan
20
34
3
3
3
66
23
53*4 Jan
50*4 Jan 3
12% Jan 14
.70
Mch 2s
24% Jan 13
18*4 Mayz5
28*2 Jan 3
103
685
38
.16
85
Jan 3
Jan 3
Jan 3
Jan 10
Jan 3
9%Mch28
14
Nov 14
2% Feb
22% Mch J
12% Jan 10
111% Jan 3
H7g Jan 3
36
Jan 12
67« Jan 4
44% Mch 9
28% Jan 3
11
Jan 6
6*4 Jan 14
94*2 Jan 22
19
Jan 14
10% Oct 13
l?8Jan 13
6
29
Jan
Jan
7
4
8*2 Jan 21
75
Jan 22
27% Jan 11
10% Jan 12
12
May26
60
Jan
3
2578 Mch 7
12*4 Jan 14
1*4 Feb 1
55
166
Jan
Jan
Mch
24% Mch
2% Jan
18
Jan
3*4 Jan 19
63% Jan 14
18
Jan 12
16% Jan 10
78
Jan
38% Feb
Feb
J iy
30
8
.45
5
11% Jan 3
41% Oct 21
29
Feb
JO
Jne
68% Feb
7*2 May
7*2 Feb
1
13
Oct
Feb
7% J’ne
90
9
Feb
Feb
8% Sep
5*2 Dec
22% Apr
7*2 Apr
2*2 May
16
Jan
10*4 J’ly
4% Mch
,30
3*2
12*4
6*4
x67%
16*2
3%
978
47
Apr
Apr
Feb
Oct
J ly
4% Mch
5% Nov
Aug
Sep
200% Jan
40
J'ne
*17*2 Aug
107
Aug
218% Aug
117% Aug
175
Apr
98% Apr
112
Apr
50% Aug
J ly
105
9% Feb22*t NOV
136
Apr
131
Apr
145% Sep
40% Aug
108
J’ne
12*2 Sep
31% Aug
8*4 Oct
147% Nov
1378 J ne
260
Apr
173
Aug
83% Dec
97
Apr
220% Dec
3% Oct
125
118
139
108
199
12
Oct
Oct
34
35
Deo
Nov
170
71
Deo
Oct
Sep
Oct
Aug
Sep
114% Aug
81% Sep
9478 Oct
131
1J
96
Oct
Dec
Dec
10% May
62
Oct
96*2 NOV
40*2 Deo
54
Deo
61% Deo
Jan
May
Deo
11% Deo
83% Nov
Jan
Aug
44% Sep
Mb
Jan
86*4 Nov
12
Mch
16% Apr
2% Jan
19
Aug
12% Nov
110% Deo
14% Nov
38
Deo
7% Aug
83% Feb
9% Aug
<7% Deo
74% Deo
19*8 Dee
18% May
1
6
Deo
Nov
28% Deo
13% Mch
70% Jan
13
Dec
Oct
Nov
17478 J’ne
149
215
Oot
Nov
8% Dee
Sep
85*4 Jan
117g Aug
14% Deo
J'ne
.90
Deo
47% Feb
69
170
Aug
.40
1% Nov
13*2 Feb
84
Jan
13% Nov
1278 Apr
62
J'ly
9% Dec
Jan
Feb
Jan
Oot
8
3
44
4
Jan
3
87% Feb
89*4 Feb
8
Oct
5
Oct
Jan 14
Jan g
8% Jan 14l
19
84
30
NOV
J'ly
88*2 SeD
195% Jan
Feb
53% Jan
5% Jan
15
150
Mch
Feb
Dec
136
103
119
695
28
89
60*2 Jan 3
5% Jan 14
275
Sep
21% Feb
96% May
585
Feb
8
3
46
J'ne
Feb
17% J’ly
Jan
55
65*4 Oct
162
123
18
SO
24
122
Feb
19 * Deo
83
Dee
21% Jan
92
Jan
Feb
Mch
125% Oct
106
J’ne
239*4 Apr
Dec
135
235
Mch
153
Nov
301
Jan
22
Feb
77*2 Nov
14% Mch
Deo
36% J’ne
99
Jan
2% Jan
1778 Jan
67
Dee
18% May
18*2 J’ly
90
Feb
17% Jan
89% Not
69
54
Sep
Oot
6% Jan
49% Nor
66
6
Not
Deo
?1S% Dee
Ang
155
4
Jan
1Toy. 26
1437
Boston Bond Record
1910.]
BOi> US'
Woskfe
or
Fries
Friday
Nov 25
BOSTON STOCK EXCH’GE
Week Ending Nov 25
Range
Bondf Sold
Range
Last Sale
I
January 1
Illinois Steel deben 6s....1913
la Falls ASioux Cist 7s.. 1917
Kan C Clin A Sprlst 6s... 1925
Kan C Ft 8 A Gulf ext 5s..1911
Kan C Ft Scott A M 6S....1928
Kan C M A B gen 4s
1934
Assented income 5s
1934
Kan 0 A M By A Br 1st 5sl929
Maine Cent cons 1st 7s...1912
Cons 1st 4s
1912
Mara Hough AOntist.6s.l925
Mass Gas 4*33
1929
Mich Teleplst 5s..
1917
Minne Gen Elec con g 5s 1929
New Eng Cot Yarn 6s....1929
New Eng Teleph 6s
1915
6 s.
1916
New England cons g 5s... 1945
Boston Term 1st 4s
1939
New River (The) conv 5s. 1934
N Y N H A H con deb 3 *381956
Conv deb 6s (oils) ......1943
Old Colony gold 4s
..1924
Oreg By A Nay con g 4s.. 1946
1922
Oreg Sh Line 1st g 6s
Pere Marquette deb g 6s.. 1912
Bepub Valley 1st s t 6s...1919
Rutland 1st oon geu 4*38-1941
Rutland-Canadlan 1st 4sl949
Savannah Elec 1st cons as.1952
Seattle Elec 1st g 5s
1930
Shannon-Aria 1st g 6s
1919
Terre Haute Elec g 5s....1929
*
1
....
«•••
....
....
n
.1919 A-O
Iowa Div 1st 4s
1913 M-N
Debenture 6s
Denver Exten4s
1922 F-A
1927 M-N
Nebraska Eaten 4s
B A 8 Wei 48
1921 M-S
Illinois Div 3 >a8
1949 J-J
Oblojo By A Stk Yas 6s. 1916 J-J
Coll trust refunding g 481940 A-O
Oh Mil A St P Dub D 6s..1920 J-J
Oh M A St P Wis V div 681920 J - J
Ohio a No Mien 1st gu 5s.l93i M-N
Ohio A W Micb gen 6s....1921 J -D
Oonoord A Mont cons 4S..1920 J-D
Conn A Pass B 1st g 4s... 1948 A-O
Cudahy Paok(The)lst g 6s 1924 M-N
Ourrent Biver 1st 6s
1926 A-O
DetGrKapA W 1st 4s... 1946 A-O
Dominion Coal 1st s 16s..1940 M-N
1916 M-S
Titcnburg 4s
1927 M-S
4s
Fremt Elk A Mo V 1st 6s.. 1933 A-O
'98%
98%
101% 101%
99% 100
99
99%
....
....
99*4100
>....
99
99
....
....
4 100
89
....
Unstamped 1st 6s
1933 A-O
Gt Nor O B A 0 ooli tr 4s 1921 J-J
Registered 4s
1921 g-j
Oct
101%
92%
115% 115%
....
99*4 101
88%
86%
....
101*4 10L»a 101*8
126
99
101
91
99
4 100
100%
104
....
....
••••••
90
93
....
•....
>....
99
88
99
90
96%
98%
1
96
133
9a % Sale
95*4
l
x-'t
140
ey
95*4
j 94% 97%
....
A-O
A-O
100
January 1
A O
116*4
100*4
Apr’08
93H Mar’10
99% Feb’ 10
116%
lie8®
M- S
A-O
A-O
A-O
A-O
99
99 >3
97
Aag’10
102*3 Aug’04
101*3
101*3
99 >4 Sale
ioi% Sale
100*3 Sep ’08
J-J
J-J
J-J
76
Oct ’10
101*« Nov’10
133
J-D
F-A
J-J
J-J
J-J
76
79**
96 7s 102
131
135
99
113% 116%
98*3 99
103*8 103*8
Mar’lu
103>« Sep’10
107*3 -W05
102
Mai’02
J-J
J-J
78*4
78%Apr’10
F-A
M-N
103*3
103 *u Nov’10
....
J-J
103
88
97
97
97
97*4
96
97*4 SMe
166
104
100*4 100*4
99 7« 101*3
104% 109%
96*4 97*3
145
166
!^101 *3 105*3
97
98*4
Nov 10
Nov’10
93*4 J’ly’io
10134 J’ne’09
M-S
98*3
97
94*3
94*8
98*3 Apr’10
98
Oct ’10
M-N
F-A
J-J
98*3
97*3
98
98
94% Jan ’10
J-J
78*3
104*4
110
Apr’07
100% Mar’10
101 *s Nov’10
1047® Oct ’10
97*4
97*4
M-N
M-N
F-A
99*8
6 100*8 105
Nov’10
Apr’09
987g Sep ’09
113 7® Aug’10
102*8
100
97
97
133 7s
101
135
103
Feb *09
102
A-O
J-J
A-O
F-A
92
90
102
102*3 Nov’10
113*b Nov’06
101*4 Sep ’05
116
J’ne’08
102*3 103
J J
J-J
J-J
F-A
A-O
97
99%
2113
118
92*a 93 >*
93*8
99*4
Oct ’1
Nov’10
93
90
93
91
M- S
High
l|| 99*3 101
I00*a 100*4
J-D
M-N
U S Coal A Oil 1st s f 6s.. 1938
U 8 Steel Corp 10-60 yr 5s. 1963
West End Street By 4s....1916
Gold 4 *38
1914
Gold deoenture 4s
..1916
Gold 4s.
...1917
Western Teleph A Tel 5s. 1932
Wisconsin Cent 1st gen 481949
.Voi Low
117
1918 M-S
Union Pao BB A1 gr g4s. 1947 J-J
20-year conv 4s
1927 J-J
United Fruit gens f 4*48.1923 J-J
....
88
96
Range
Since
I2
N ty/i
ask Low
Torrington 1st g 6s
....
99
83
Friday
Nov 25
Bia
Agrioul Chem 1st 5s..1928 A-O
90% Sale
Am Telep <& Tei coil tr 48.1929] j. j
Convertible 4s
1936 M- 8 105*4 106 105*4 105
13 99% 106 |
87% Sep ’l
Am Wnt Paper 1stsf6sg 1919|J. J
97*4 87%
Nov 1
97
119
Am Zinc L A 8 deb 6s.... 1915'M.N i’rf ’ iao* 119
3
94
94
89
94
Anz Com Cop 1st conv 6a 1920 j-D
98
96*4 98% 98*4 Nov* 10
Aten Top A S Fegen g 4s.. 1995 A-O
101%
89*3 91*4
88% 94**
Adjustment st 4s....J’ly 1996INot
89*3 91*4
92% 94%
Stamped
J’ly 1996 M-N
J-D
102%
102%
60-year conv 4s
1956
J-D
108%
117%
10-year conv 5s
1911
67
**2*6 63
69
68
8aie
73
Atl Gull A W ISS Lines 5s.’69 J-J
110
Boston Elect L oonsoi 6b. 1924 M-S
Boston A Lowell 4s
1916 J-J
1944 J-J
Boston as Maine 4%s
Boston Terminal 1st 8*38.1947 F-A
103
103
103
Bor <fc Mo Hiv cons 6s
1918 J-J
100
Bntte A Boston 1st 6s....1917 A-O
Bntte Elec A Pow 1 st g 5s. 1961 J-D
113% 114
Cedar Bap A Mo B 1st 7s. 1916 M-N
87
87
88
87*4 10 85
Cent Vermt 1st g4s..Mayl920
11103 Oct '07
Ofl&u Iowa Div 1st68.1919
Am
Week's
Range or
Last Sale
Brice
t-
1
High So Low High
102%Nov’lO
100*4 103
90%
93%
907®| 3*2 89
A 8k Loto
Bta
•S-3
BOSTON STOCK EXOH’GE
Week Ending Nov 25
Since
99*8
99
99
94*%
| 94% 96% [
NOTE—Buyer pays aoerned interest in addition to the purchase prioe for all Boston Bonds.
* No price Friday; latest bid and asked.
H Flat price.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
eiliare Price*—Not Per Centum Prices
| Sales
of
Saturday
Nov 19
Tuesday
Nov 22
Monday
Nov 21
-
Wednesday
Thursday
Nov 23
Nov 24
ACTIVE STOCKS
(For Bonds and Inactive
Stocks see below)
Shares
lYidav
Nov 25
j Week
64
91
TT_T„
*20
•42%
125
126
126
126%
......
•14%
43
16
43
43
15
♦14%
44
♦
*14%
14%
*
64
•
91
e
126% 125%
*
21%
*
44
*14%
......
•
•
*14%
L3
Do
43
44
**43**
44%
♦11% 11%
46% 48%
82% 33
78% 78%
*8%
9%
27% 28
93% 94%
94% 95%
65
65%
♦45% 46
16% 16%
17
*43** **43** **42% **43** **4*2% *4*3**
82%
79
44
U%
11%
48
23%
48 %
33
79
79
44%
ll%
49%
79
♦
w
11%
OQ
32 %
49
33
78%
79
94% 95%
64% 65
45%
15%
18%
45
15%
17%
76% 77%
*8%
8%
41% 41%
84% 86%
97%
95%
97%
94%
61%
45%
66
6l%
97s
94%
65%
45%
16%
45%
46
15%
r« %
18
76iia 76%
6%
42
85%
Bid
Preferred
100
American Milling
10
Amer PlpeMfg
100
Beil Telephone (Pa). 100
Cambria Iron
60
Central Coal A Coke. 100
Oonsoi Trao of N J...100
Easton Con Electric 6.60
Ft Wayne AW V
loo
60
Germantown Pass
Indianapolis St
8%
42%
86%
Ask
15%
Keystone Telephone ..50
50
Keystone Watch Case. 100
Leh Vail Tran
v t
Preferred v t c
O...50
50
Lit Brothers
10
Little Schuylkill
50
Mlnehlll A Schnyi H..50
N Haven Iron A Steel.5
Northern Central
50
North Pennsylvania..50
Pennsyl BB receipts....
Pennsylvania salt
50
Pennsylvania »t eel.. 100
Preferred
loo
Phila Co (Pitts) pref...60
Phil German A Norris. 60
Phila Traction
50
Railways General
10
Suaqueh Iron A Steel..5
Tidewater Steel
10
Preferred
10
Union Tr of Ind
100
United N J RB A O.. 100
Unit Trac Pitts pret.,60
Warwick Iron A Steel. 10
WelsbachCo
j..lou
West Jersey A SeaSh.50
Westmoreland Coal....60
Wilkes Gas A Elec.. 100
asked;
no
2
H
sales
16
16%
17% 18%
76% 76%
8%
8%
42% 44
86
86%
M
W
s
•
•
•
•
•
•
49
Pill IA DELPHI A
Be tine Steel 6s 1998.U-F
Choc A Me 1st 5s 1949 J-J
Ch Ok AG gen 5s’19 J-J
73*
20
'*8%
33
20*3
......
”4*4 *6**
16%
16
68
62
124% 125%
97
110
106
41
147
82
240
41*3
149
83
244
42*3
10
43
63%
on
10%
44
64
96
this day.
49
20
Rid
Ask
114
103%
103%
Interstate 4s 1943 ..F-A
61
......
39
88
105%
......
LehighNav 4%s ’14.G-J
BBs 4s g
1914.g-F
Gen M 4%s g.l924.U-F
Leh V C 1st 5s g ’33..J-J
Leh V ext 4s 1st 1948. J-D
Consol 6s 1923
J-D
Consol 4%s 1923...J-D
J-D
Annuity 6s
Gen cons 4s 2003.M-N
Leh V Tran oon 4s ’35J-D
lstsenesB6s 1935.M-S
New Con Gas 6s 1948 J -D
Newark Pass oon 5s 1930
N Y Ph A No 1st 4s ’39 J-J
Income 4s 1939...M-N
NoGlnoTrao con5s’19-J-J
Penn Cons 6s 1919.. Var
Penn A Md Steel con 6s.
Pa A N Y Can 5s ’39. A-O
A-O
Con 4s 1939
Penn Steel 1st 5s ’17 M-N
People’s Tr tr oerts 4s ’43
P Co IstA ool tr 5s* 49 M-S
ConA 001 tr 5s 1951M-N
Pliil Elec gold trust otfs
Trust oertifs 4s
P A E gen M 6 g ’20. A-O
Gen M 4s g 1920..AAO
1|Ex-rishts.
|| $15 paid,
Mar21
Marl l
iio‘% iio%
117%
104%
148%
97%
97%
99
108%
.•••••
*93%
94%
102%
94%
101% 101%
76% 76
U mon Traction
5u
38
Oct 2*
United Gas
50
79
J’ly 2c
lmpt
Bid
PHILADELPHIA
Ph A Bead 2d 6s *33.A-O
Con M 7s 1911
J-D
Ex Imp M 4s g *47.A-O
Terminal 5s gl941.g-F
P W A B coi tr 4s ’21.J-J
Portland By 1st 5s 1930.
Booh KyA L con 5s ’54J-J
Spanisn-Am Ir 6s ’27 J-J
U Trac Ind gen 5s’19.J-J
Un Bys Tr otfs 4s’49JAJ
United Bys Inv 1st coil tr
8158 1926
M-N
U Trac Pit gen os ’97 J-J
Welabaoh s f 5s 1930.J-D
Wlks-B GAE con5s’55J-J
BA LT1,HO HE
Inactive 4Lock*
Ala Cons OoaiA iron. 100
Pret
.100
Atlanta A Charlotte.. loo
Atian Coast L (Conn) 100
Canton Co
100
Cons Cot Dock Corp...50
60
1st pref
100
2d pref
....100
G-B-S Brewing
100
Bonds
Price* are all “ and
*
interest
Anaoostia A Pot5s....
Atl Coast L(Ct)ctfs 5s J-D
Ctfs of indebt 4s
J-J
6-20 yr 4s 1925
J-J
Balt CPass 1st 5s ’ll M-N
Balt Fnndg 5S.1916M-N
Balt A P 1st 6s m 1 ’ll A-O
B S P A O 1st 4 %s ’53F-A
Balt Trao 1st 5s..’29 M-N
No Balt Div 5s 1942 J-D
Cent’l By con5sl932 M-N
Ext A Imp 5s. 1932 M S
107%
Chas City By lst5s’23 J-J
100%
Chas
t $12% paid,
47
15 *a
30
76
Feb 28 100
Jan 3 11%
Jan 8
22%
J’ly L5
I Ask
By G A El 6s’99 M-S
i $13% paid.
<$35 paid,
Mar
Mar
48
Deo
14 % Deo
Jan 3
26
Dec
60
Jan 6
44% J’ly
53 *3 Jan 10
32% Feb
12 *3 Jan 14 *10% Jan
52% ian 3
96 *s Jan 10
Dee
28*4000
Feb
Feb
y% Feb
43
48
89
May
J an 121*3 Deo
28
42 J’nedo 64*4 Marll
Asphalt tr ous ....100 19*4 J’ly 2c 34*8 Jan 29
Do
pref tr ctfs ....100 64 J’iy 2b s4% Jan 10
Keystone Telephone... 50
7 J’ly 6 13 „anlo
Lane superior Corp....loo 16% J’nebu
28*4 Jan 3
Lemgh 0 A Navtrctfs. 50 86 J’ne3c i23 Jan 7
Marls
i2L*4
Lehigh Valley
50 62 *4 J’ly t.,
Pennsylvania BB
5061J’ly 2<- 693ia Mar 9
Phiiadelp’aCo(Pittst>). 50 42 J’ne3> o3*4Jan 8
Philadelphia Electricjj. 25 $13% eeo o 16*4 Maris
Phils Rapid Transit... 50
i5 Apr 28 23*sJau 3
Feb Is
50 66*4 J’iy 2i 86
Beading
9*-ie May 13
Tonopah Mining ......
1
b%Janz
Exchange 3%s 1930 J-J
......
11 *4 J’ly 29
Jan
43
48
Deo
19% Deo
12% J’iy
J’ly
63 *3
Jan
9*3 Jan
33% Deo
84*8 Deo
15
Apr
14% Jan
33% May
15*a Jan
53
Jan
Jan 125 *3 Deo
Feb 113
8ep
63*8 Feb 7 5 % Sep
96
67
40*a Feb
11*4 Fob
51% Deo
14% Deo
24% Jan
36 *3 Apr
59 *3 Feb
6% Jan
50% Jan
84%
BALTIMORE
86% Sep
7*% 8 Mar
68% May
95 *3 Deo
Bid
Ask
Chari C A A 2d 7s’10 A-O
City A Sub 1st 5s..’22 J-D
City A sub(Waa)lst5s’48
Coal A 1 By 1st 5s’20F-A
99%'
115V
ColAGrnv lst6s.l916J-J
Consol Gas os..1939 J-D
Ctfs indebt 4 %8
98%
J-J
101
101% Cons G E A P 4 %s’35.J-J
FairA CiTr x st 6s’38. A-O
Ga A Aia 1st con os ’4o J -J
74
GaCar AN 1st 5s g ’29 J-J
80
80% Georgia P 1st 6s...’22 J -J
Gaso A Fla 1st 5s 1945J-J
G-B-S Brew 3-4s 1961M-S
2d income 6s 1961 M-N
Knox v Trao 1st 5s ’28A-0
LakeB El 1st gu5s’42M-S
88*3
Macon ByA
232
115
5
18
245
121
93
70
1
97
75
6
20
Georgia Sou A Fla...100
Mttf
101
107
108
50
27*4
Nov23
J’ly 14!
Geu
Preferred
*
64
90
8 132
Railways.... 50
Cambria Steel
27 Electric Co of America 10
6,106 Elec Storage Battery.. 100
‘*8*3*** *83%
i*0*6%
American
2,710
32%
Col St By 1st con 5s 1932
ConTraooIN J 1st 5s.’33
E A A 1st M 5s 1920 M-N
Elec A Peo Tr stk tr otfs
Eq II Gas-L 1st g 5s 1928
Indianapolis By 48.1933
87
46
100 80
17 *4 Sep 19
41% J’iy 21
50 40*4 J’ly 2b
American Cement
32% 3,181
885
*78
79
9
*8%
27
27% 4/29*5
97
97
2,076
y4% 94% 48,262
65%a 65% 1,379
349
45% 45s
23,925
15% 16
14,80,
18% 19
767ia76ls,ie 2,620
312
*8%
8
44
44% 9,42.
86% 86% 18,561
AmBysoonv 5s 1911.J-D
Atl City 1st 6s g '19.M-N
BergA EBrw 1st 6s’21 J-J
45
pref
| Highest
Lowest
-I
Philadelphia
25
*43
43%
43% 44
*11% 11%
*24%
Bonds
Frices are all ** and
interest,’*
Alt ALV Eieo 4 %*’33.F-A
Am Gas A Eieo 6s’07. F-A
100
Indiana union Tr....l00
Insurance Co of N A.. 10
Inter Sm Pow A Cbem.60
Preferred
Q
%
97
94%
Inactive Stocks
Amal Asbestos Corp. 100
*11%
48%
33
44
<P
97%
95
PUlIJkDKLPIIlA
•Bid and
44
27%
17%
77»,a 77*is
8%
♦8*4
40% 40%
33% 86%
44%
43%
*11%
47%
£
Htgfiesi
265 Northern Central
60116 Jan
Seaboard (new)
.100 J 8% J’ly 29
Do
2d
*lb*6
pref
100 40 Oct 17
United By A Kleotrio.. 50 12% May 3
to
•tees*
Year(lyuV)
Lowest
6 Con. Gas El. L. A Pow.100
*63%
♦89
91
*125
126
*20
21
*42% 43
Range tor Previous
Jan 1
I
Baltimore
*
Range Since
the
2
100% 101
Ltlst5s’53J-J
a Receipts.
107% 108
96
83
97
106
106
83%
96*3 97
103*3 104
113
113%
107
109
42% 43
5
6
102% 104
105
96
98
Mt Ver Cot Ducx 1st 5s.
N pt N AO P 1st 5s’38 M-N
Nor APorTr lat5s’36J-D
Norfolk St 1st os’44..J-J
North Cent4%s 1926 A-O
Series A 5s 1926....J-J
Series B 5s 1926....J-J
Pitt Un Trac 6s 1997.J-J
rote Vai 1st 5s 1941..J-J
Sav Fla A West 6s ’34 A-O
Scab A Boan 6s 1926.J-J
South Bound 1st 5s..A-O
U El LAP lst4%s’29 M-N
73%
74
J-D
Funding os 1936...J-D
Va Mid 2d ser 6s ’ll.M-S
3d senes 6s 1916..M-S
93%
4th ser 3-4-6s 1921. M-S
100% 101
6th senes 6s 1926.M-S
96
94
Va (State) 3s new ’32.J-J
107
106
Fond debt 2-3s 1991. J J
112
110
West N O con6s 1914 J-J
105
WesVaOAPlst 6gTl J-J
ioo“ •vee4« Wii A Weld 6S..1936.J-J
90
94
105
......
97
Income 4s 1949
100%
101%
100%
Memphis st 1st 6s’45 J-J
MetSt( Wash)lst5s’26F A
Un By A El 1st 43 ’49 M-S
91
100
104
93
103
92
82%
82%
i*0*4
110*4
116
105
107%
L05
106
106
107
91%
84
92%
81%
63%
64
85
86%
100% 100%
106
106
106
87
87
105
106
i
100% 100%
110
112
6 $25 paid. 0 $30 paid, d $42% paid.
1
1438
THE CHRONICLE
[VOL.
LXXXXI
Ittwjestmjent and Railroad Intelligence.
RAILROAD
GROSS
EARNINGS.
The following table shows the gross earnings of every STEAM railroad
from which regular weekly or
monthly return*
san be obtained.
The first two columns of figures give the gross
earnings
for the latest week or month, and the last two
columns the earnings for the period from July 1 to and
including such latest week or month. We add a
supplementary
Statement to show the fiscal year totals of those roads whose fiscal year does not
begin with July, but covers some othe*
period The returns of ths electric railways are brought together separately on a
subsequent
Latest Oross Earnings.
ROADS
Week or
Current
Year.
Month.
Ala N O A Tex Pac
N O A Nor EastAla A Vicksburg
Vicks Shrev & P
Ala Tenn A North.
Atch Toueka & S Pe
Atlanta Blrm A Atl
Atlantic Coast Line
g Baltimore A Ohio.
1st wk Nov
1st wk Nov
1st wk Nov
September
September
2d wk Nov
September
October
B A O Ch Ter BH September
..
Bangor & Aroostook September
Belief onte Central— October
Boston A Maine
September
Bridgeton a Saco R September
Butf Hoch & Pittsb id wk Nov
Buffalo & Susq
September
Canadian Northern. 3d wk Nov
Canadian Pacific
3d wk Nov
Central of Georgia. 2d wk Nov
Central of New Jer. >eptember
Central Vermont.. September
Chattanooga South. itn wkSept
Ches A Ohio Lines. 2d wk Nov
Chicago A Alton
2d wk Nov
Chic tiurl A Quincy .September
p Chic Great West.. 2d wk Nov
Ohio Ind A Loulsv 2d wk Nov
Chic Ind A Southern
See New
Chic Mil A St Paul September
Ch Mil A Pug Sd. September
Chic & North West oeptemuer
Chic St P M A Om September
Cln Ham A Dayton September
Clev Cln Chlo A St L —See New
Colorado Midland.. September
Colorado A South.. 2d wk Nov
--
.
Copper Range
Cornwall
Cornwall A Leban__
Cuba Railroad..._
Delaware A Hudson
Del Lack A West
Deny A Rio Grand'e
Previous
Year.
60,000
81,000
26,000
8,393
9.068.441
57,274
2,246,774
8,168,817
136,345
283,016
8,790
4,176,981
4,750
198,095
202,422
363,100
2,106,000
273,500
2,416,792
376,619
2,445
615,864
312,294
3,395,269
295,216
107,958
York Cen
6,504,203
1,162,399
7,304,835
1,621,007
872.257
York Cen
195.990
August
368,554
66,774
September
13.964
30.403
190,880
September
July 1 to Latest Date.
Current
Year.
2,450,626
231,323
364.016
62.557
554.198
6.702.469
137,508
14,633
48,218
623.514
6,380,383
140,479
tral.
1
42,624
‘
..
..
..
'
AGGREGATES OF GROSS
Weekly Summaries.
Cur’nt Year Prev's Year
Inc.
or
Dec.
'
1st week Sent (41 roads)
week Sept (39 roads)
pd week Sept (40 roads)
4th week Sept (46 roads)#—.
1st week Oct
(42 roads)——
2d week Oct
(42 roads)—..
3d week Oot
(42 roads)....
4th week Oet
(46 roads)—..
1st week Nov (41 roads)....
2d
....
..
2d
week Nov
(43 ruaci.-u
$
13.436,923
13.898,196
14.164,775
19.038.149
14.399,640
14.838.200
18.114.753
20.827,936
NYNH AHartf..
N Y C A Hud Rlv
Lake Shore AMS
n Lake E A West
Chic Ind A South
Michigan Central.
Oleve C C A St L.
Peoria A Eastern
Cincinnati North.
Pitta A Lake Erie
Rutland
e
3
12.381.354
13,014.025
13.566.355
18,221,030
14,023,816
14,153,835
14,512.278
14,198.835
20.204.133
13,836,545
14.555,933
14,373,360
S
+ 1.055,571
+884,171
+596.420
+814.119
+ 375,833
+079,365
+ 602.475
+ 623,798
+362,290
+ 182,623
or
Current
Year.
July 1 to Latest Date.
Previous
Current
Year.
Year.
Previous
Year.
3
September 5,665.765 5,364,172 16,475,341 15.552,160
September 9.349,556 8,860,782 26,804,142 25,175,649
September 4,487,125 4,269,028 13,187,251 12,486,004
September
532,663
516,505 1,507,474 1,404,617
September
269,734
282,59
779,575
819,637
September 2,634,249 2,557,818
September 2,792,529 2.623.288
September
363,304
300,935
September
128,886
124,582
September 1,537,471 1,533,378
September
340.018
N Y Chic A St L. September
Toledo A Ohio C_ September
Tot all lines above September
7,915,489 7.252,566
7,990,364 7,541,025
974,583
831,983
368,867
331,751
4,670,308 4,452,703
966,770
882.375
2,763,405 2,554,147
1,485,056 1,163,374
69,431,284 34,695,831
910,608
801,991
692.000
633,672
9.290.862 8,507,651
3,220,470 8,115,670
301.244
844,017
412,076
936,075
516,241
23887851 22 626248
316,249
27,880
209,774
September 3.220.664 3.033.344
September 1,121,819 1.091,519
September 6.617.992 7,580,339 19,123,078 21,198,295
September
753,157
714,352 2,337.542 2,271,721
Pennsylvania Co
September 5,154,607 4,962,547 15.269,607 14,087,027
d Penn—E of P A E
September 14267059 13844559 42,023,623 40,305,323
d West of P A E. September
JtlC.476, 000
inc.2,162, 800
Pere Marquette.... October
1,453,527
Phila Balt A Wash. September 1,672,090 1.509.464 5,716,375 5,549,902
1,572,890 5,186,295 4.601.695
Pitta Cln Ch A St L. October
3,087,605 [2,969,747 12,063,723 11,096,368
Raleigh A Southp’t October
15,332
14,265
52,148
N Y
Susq A West.. September
September
f06.088
Norfolk Southern..
Norfolk A Western.
Northern Central..
Northern Pacific...
Pacific Coaat Co
..
Reading
6,287,926 17,844,045 17.057.384
775,599 3,475.123
7,237,348 20,372,047 19,738"574
1,423,223 4,325,777 3,767.217
2,579,002
Week
Month.
tral.
getrott A Mackinac
!
ROADS.
1,219,559 1.191.792
33.000
636,423
588,014
29,000
545,033
508,785
6,153
23,870
17,414
8,732,776 26,159,339 25,434,887
55,930 1,010,809
944,030
2,173,13U 0,464,688 5.830,732
7,840,698 32,684,444 30,518,589
95,403
407,932
285,909
249,332
726,400
694.467
6,687
31.069
21,062
3,983.948 12,130,577 11,658,849
4,389
16,022
15,353
187,018 4,020,227 3,818,608
236,890
593,853
663,683
357,900 6,326,000 5,179,600
1,993,000 44,070.760 38,810,193
279,600 4,842,451 4,603,235
2,228,715 7,227,399 6,722.656
349,338 1,000,435 1,018,112
2,080
23.989
20,807
607,971 12,561,776 11,649.957
359.491 5.826.052 5.486.675
7,806,737 23,848,676 22,533,348
289,262 4,977,809 4,511,282
121,652 2,480,601 2,317,699
38,156
103.251
113.738
September
158,898
631,191
484.586
September 1,763,208 1,618,919 5,263,884 4,867,835
September 3,046,594 2,940,504 9,136,527 8,995.928
2d wk Nov
517,000
502,400 9,777,458 9,418,729
Denver N W A Pac Jst wk Nov
25,707
23,561
474.924
482,831
Det Tol A Iront Sys 2d wk Nov
34,346
37,514
811,274
629,744
Ann Arbor
2d wk Nov
42,659
38.632
767,802
710,850
2d wk Nov
22,305
21,1301
463.390
469,275
ul A Iron Range.. September 1,138,620 1.454.173 8.594,056
4,204,335
Dul Sou Sh A Atl.. 2d wk Nov
63,786
69.547 1,372.016 1,361,744
El Paso A Sou Wes t September
581.221
554,495 1,768,244 1,743,579
Erie
September 5,112,179 4.875.173 15,115,959 13.714.456
Fairchild & Nor E. September
2,017
1,995
6,116
5,619
Fonda Johns A Glov September
84,185
79,607
277,334
250.468
Georgia Railroad-. September
266.710
268,287
725.925
697,560
Georgia South A Fla —See Sent hern Rail way.
Grand Trunk Syst.. 2d wk Nov 899,760
924.271 17,175,119 17,189,426
Grand Trk West. 2d wk Nov
106,425
121,166 2,188,572 2.337.793
Det Gr Hav A Mil 2d wk Nov
46,378
42,753
755,788
769,678
Canada Atlantic. 2d wk Nov
40,217
57,834
746,510
828.290
Groat Northern Syst October
6,401,109 7.252,966 24.364,061 24,943,156
Gulf A Ship Island. September
160,657
177,432
476,017
491.290
Hocking Valley.... September
770,751
760,844 2,186,401 1,992,264
Illinois Central.... October
5,466,769 5,301,602 20,612,729 19.294.070
Internat A Gt Nor. 2d wk Nov
202,000
207,000 3,628,419 3.285,782
O Interoceantc Mex
3d wk Nov
162,758
143,049 3,265,181 3,076,629
Iowa Central
2d wk Nov
65,749
84,921 1,292,435 1,328.201
Kanawha A Midi.. September
313.402
229.382
891,324
681.589
Kansas City South September
876,588
734,165 2,576,335 2,156.778
K O Mex A Orient. 2d wk Nov
39,900
84,300
740.473
642,653
Lehigh Valley
October
3,384,100 3,344,380 12,409,081 11,912,704
Lexington A East.. September
46,398
39,182
133.736
116,526
Long Island...
Inc. 27, 091
September
Inc.197, 494
Louisiana A Arkan. September
120.030
110,214
363,548
316,364
Loulsv Hend A St L September
116.171
105,849
317.667
292,254
s Loulsv A Nashv.. 2d wk Nov 1,132,230
1,076,730 20,439,612 19,040.162
Macon A Blrm'ham October
15,626
16,785
51,184
52,559
Maine Central
September
860.258
828,413 2,505,211 2.494.157
Maryland A Penna. September
43.964
40,376
120,801
109.445
« Mexican Railway. 2d wk Nov
159,700
138,100 3,082,8(K 2,845,000
a Mexico Nor West. October
218,690
122,973
774.44C
411,319
Michigan Central
—See New York Cen tral.
Mineral Range..... 2d wk Nov
14.614
14,583
283,724
327.356
Minneap A St Louis 2d wk Nov
120.597
144,897 2.179.859 2.096,625
Minn St P A SS MV 2d wk Nov
512,176
514,259 9.248.859 9,856.576
Chicago DlvU ou)
Mississippi Central. September
79,273
72,175
230,437
195.991
v Mo Kan A Texas. October
3.111,828 2.856,104 10.203.852 9,425,146
Mo Pr.c A iron ilti
Central Branch./ 3d wk Nov 1,092.000 1.090,000
20,730.094 20,375,961
Nashv Ohatt A St L September
970.828
934,410 2.854.041 2.781,413
0 Nat Rys of Mex./. 3d wk Nov 1.202,300
1,116,271 24,698,016 21,496,708
Nevada-Cal-Oregon 2d wk Nov
6,122
7,215
165.737
212,179
Nevada Central
September
6,86.
18,110
16,449
O Great Northern
1431024 105,979
436,498
312,792
(chile A Chlo. Wk Nov 12
34.276
36,295
637.268
563.446
it A Western
eptember
826,343
713.930 2.739.216 2,432.353
‘
Latest Gross Earnings.
Previous
Year.
66,000
875,126
page.
49,535
Company
Phila A Reading.
Coal A Iron Co..
Total both oos...
Rich Fred A Potom
Rio Grande Juno
Rio Grande South..
Rock island Lines.
September 3,830,102 3,677,901 10,888,775 10.280.763
September 2,286.626 2,037,893 5,686,397 5,415,154
September 6,116,730 5,716.796 16.575.172 15.695,918
September
176,133
143.901
550,070
481,534
September
100,469
96.250
267,359
267,615
2d wk Nov
13,101
16,886
247,061
179,875
September 6,249,669 5,973,175 17,659,871 17,366.909
St Joe A Grand Isl. September
152,136
147,185
458,949
443,680
.
St Louis A San Fran
Chic A East 111..
f Evans A Ter H
Total of all lines.
StLRky Mt A Pac.
St Louis Southwest.
SanPedLA ASL.
Seaboard Air Line.)
Atlanta & Blrm. \
Florida w Shore]
Southern Indiana..
Southern Pacific Co
Southern Railway.
_
Mobile A Ohio...
qnNO ATexP.
Ala Great South.
Georgia Sou A Fla
Texas A Pacific....
Tidewater A WestToledo Peor A West
Toledo St L A West
Tomblgbee Valley
September 3,761,537 3,636.202 10,746,749 10,498,873
September 1.072.884
990,667 3,106,628 2.813.877
September
256,351
220,513
753,588
645.349
September 5,090,773 4,847,383 14.606,965 13.958,099
September
177,848
143,117
512,920
420.470
2d wk Nov
295,980
256,190 4.662.601 4,307.120
September
634,845
655,492 1,896,160 2,118,782
2d wk Nov
424,478
405,673
7,364,674
6,874,908
September
155,996
120,762
474,496
346.357
September
11929727 11531903 34,898,657 38.657,218
Nov 1,229,846 1,180,607 22,811,784
21,593,990
Nov
225.330
211.431 3,967,050 3.804,736
Nov
178,133
172,609 3.554,996 3,237,844
Nov
69.508
75,800 1,685,158 1.436.695
Nov
47,787
51,181
881,669
839.357
Nov
871,683 356,249 6,168.389 5,792,800
September
7,242
6,748
21,622
19,789
2d wk Nov
24.774
20,363
506,206
441,046
2d wk Nov
85,258
99,469 1,483,507 1,484,768
September
6,741
6,230
21,039
18,851
2d wk
2d wk
2d wk
2d wk
2d wk
2d wk
Union Pacific Syst. September 8,609.636 8,100,378
25,005,765 23.583.841
September
973,067
863.432 2,795,721 2,391,013
September
107,181
102,443
310.068
305.077
3d wk Nov
592,310
574,101 12,441,412 11.823.841
Western Maryland! September
666,658
610,391 2,003,356 1,733.040
W Jersey A Seash. September
714.908
622,408 2,462,839 2,205,439
Wheeling A Lake E October
612,681
619,874 2,580,580 2,471,015
WrlghtsvlUe A Tenn September
32,710
67.270
70.920
72,628
Yasoo A Miss Vail. October
961,666 1,024,095 3,134,766 3,174,137
vSfl^ttttjjTA”Sou West
.
Various Fiscal Years.
Jan
gellefonte
elaware ACentral
..... Jan
Hudson—.......
a
a
e
Mexican Railway.
Jan
Mexico North Western
Jan
N Y Central A Hudson River. Jan
Lake Shore A Michigan South Jan
n Lake Erie A Western...
Jan
Chicago Indiana A Southern. Jan
Michigan Central...
Jan
Cleve Cin Chicago A St Louis Jan
A
Peoria
Eastern........... Jan
Cincinnati Northern
Jan
Pittsburgh A Lake Erie
Jan
Rutland
Current
Year.
Period.
*................ Jan
New York Chicago A St Louis Jan
Toledo A Ohio Central...— Jan
Total all lines..Jan
Northern Central....'
Jan
d Penn—East of Pittsb A Erie. Jan
d West of Pittsb A Erie
Jan
Phila Baltimore A Washington. [Jan
Pittsb Cin Chicago A St Louis— Jan
Rio Grande Junction......
Dec
Texas A Pacific
Jan
West Jersey A Seashore.——.. Jan
...
to
to
to
to
to
to
to
to
to
to
to
Oct
Sept
61
370,343
350,314
30 14,899.136 14,165.202
Nov 14
Oct 31
Sept
Sept
Sept
Sept
Sept
Previous
Year.
7,261,800
1.843,337
6,565,900
1,029,066
30 73,774.940 67.749,419
30 36,900,379 32,731,112
30 4,078.355 3.571.958
30 2,705.384 2,246,321
30 21,902,694 19.842.936
Sept 30 22,171,632 20,049.047
Sept 30 2.566.342 2,168,335
to Sept 30
956,833
856.382
to Sept 30 12,953,927 10.235.345
30
"spt
2,448,116 2.253.433
apt 30 8,232.928 7,226,620
spt 60 3,650.743
to Sept 30 192337422
to Sept 30 9,410,864 8,826,764
to Sept 30 122447572 110443172
to Sept 30
Iftc.11,54 2,600
to Sept 30 14,268,706 13.066,000
to Oct
81 28,855,414 [24.680.468
to Sept 30
843,176
765.504
vimilll
to
to
Nov
14
Sept
30
13,599,055
5.082,791
EARBIHGS—Weekly and Monthly.
%
Monthly Summaries.
Current
Yr. Previous Y
.
Inc.
or
Dee.
•
8.52
6.60
4.41
4.47
2.68
4.80
4.15
3.06
2.61
1.27
Mileage Curr.Yr. Prev.Yr.
January
February
,236.758
.236,852
March
.235.925
April
.237,569
May
.237.660
June
.238,168
July
.238.169
August
.238,493
September .233,428
..
-
....
..
October
.
81,498
231,362
231,652
230.841
232,463
232.494
232,054
233,203
210,302,219
202,258,490
237.533,005
325,225,596
182,649.825
174,159,723
204,916.997
196,595,911
234,310,642 201.000.381
337,036,159
230,615,778
239,404 254,005,972
229,161 [252,711.515
79,146 69,014,101
+27,652,394 15.14
+28.098,767 18.18
+32.616,006 18.92
+28,629,685
+33,241,261
209,270,887 + 27.705.272 13.27
217,803JS 54 +12,812,422 8.90
285,726,000 +1$,279.972 7.78
242.562.898 +10,146,017 4.19
67,173,773 + 1,840,628 2,14
i|:«*
w York A Ottawa, the St.
N. Y. Fty.. the latter of which,
Lawrence A Adirondack and the Ottawa
being a Canadian road, does not make returns to the Inter-State Commerce
Indiana KB.
Commission,
f Includes Evansville
g Includes the Cfevdaad Lorain A Wheeling Ry. in both
years,
n Includes the Northern Ohio RR.
w Ft Dodge and Wise Minn. A Pacific,
p Includes earnings ol
s Includes Louisville A Atlantic from
and
July
l
1909
the
Frankfort A Cincinnati from Nov, 1 II
nudes the Mexican International from
July 1910. u Includes the Texas Central in 1910.
„
„
„
,
£
_
NOV. 26 1910.
THE CHRONICLE
Latest Gross Earnings by Weeks.—In the table which
follows we sum up separately the earnings for the second week
of November.
The table covers 43 roads and shows 1.27%
increase in the aggregate over
the same week last
year.
ELECTRIC
1439
RAILWAY AND TRACTION
Latest Gross Earnings.
Name of
Road.
-
Week
Current
Year.
or
Month.
Second Week of
Alabama Great Southern
Atlanta Birmingham A Atlantic
Buffalo Rochester A Pittsburgh.
Canadian Northern
Canadian Pacific
Central of Georgia
Chesapeake A Ohio Lines
Chicago & Alton
Chicago Great Western
Chicago Indlanap A Louisville.
Clncin New Orl A Texas Pacific.
Colorado A Southern
Denver & Rio Grande.,
Det olt A Mackinac—.——
Detm t Toledo A Ironton.
Ann Arbor
Duluth South Shore A Atlantic.
...
Georgia >outhe n & Florida—
Grand Trunk of Canada
Grand Trunk Western
Detroit Grand Haven A Mil.
Canada At'antlo
International A Great Northern
Intcroceanlc of Mexico
Iowa Central
Kansas City Mexico A Orient..
Louisville A Nashville
Mexican
Railway—
Mineral Range
Minneapolis A St Louis
Minn St Paul & S S M__
Chicago Division
,
1
/
Missouri Pacific
Mobile & Ohio
National Railways of Mexico
1909.
1910.
November.
—
Nevada-Callfornla-Oregon
Rio Grande Southern
St Louis Southwestern—
Seaboard Air Line.
Southern Railway
Texas & Pacific
Toledo Peoria A Western
Toledo St Louis & Western....
Wabash
2
89,508
57,274
200,847
379,900
2,108,000
273,500
615,864
312,294
295,216
107,958
178,133
368,554
517,000
22,305
34,346
42,659
63,786
47,737
Increase. Decrease.
$
75,800
55,930
187,020
369,800
2,130,000
279,600
607,971
359,491
289,262
121,652
172,609
364,016
502,400
21,130
37,514
38,632
69,547
51,181
American Rys Co__._ October
c Au Elgin A Chic Ry October
Bangor Ry A Elec Co October
$
13,708
1,344
13,827
10,100
7,893
47497
5,954
13,694
5,524
4,538
14,600
1,175
"
5',761
3,444
24,511
202,000
207,000
147,888
84,921
34,300
1.076,730
5,000
39,900
4,236
19472
5,600
55,500
21,600
If 8,1 < 0
14,583
144,897
514,259
31
1,092,000
225,330
1,206,557
6,122
13,181
295,980
1,090,000
211,431
2,000
13,899
83,548
424,478
1,229,846
371,683
24,774
405,673
1,180,607
356,249
20,333
99,459
585,804
512,176
85,253
567,048
24,300
2,083
1,123,009
7,215
16,886
39,790
18,805
49,239
15,434
4,441
396,813
182,623
214,190
Net Earnings Monthly to Latest Dates.—The table fob
lowing shows the gross and net earnings of S1?EAM railroads
and of industrial companies reported this week:
Qross Earnings
Current
Previous
Year.
Year.
S
$
»
Roads,
Baltimore A Ohlo.b
July 1 to Oct 31
Boston A Maine. 1
July 1 to Sept 30
__
Northern
7,840,698
2,705,183
2,267,034
32,684.444 30,518,589 10,014,114 10,736,887
3,974,464
62,557
140,479
3,529,195
8,377,949
580,500
1,572,900
379,061
1,296,043
32,258
53,139
3,996,442
9,192,078
480,700
1,226,200
R 400,840
1,184,529
24,682
61,228
29,309
86,127
18,821
50,148
15,520
42,417
115,788
391,852
1,348,608
110,909
340,343
1,462,534
4,752,679
60,524
351,856
1,011,801
6,531,786
32,731.563 30,715,042
Oct 1,627,800
July 1 to Oct 31
5,225,800
Greenwich A Johnsonv.b—
July 1 to Sept 30
Jan 1 to Sept 30
1,384,200
4,111,600
1,115,170
33,280
95,600
Lehigh A Hudson River, b—
July 1 to Sept 30
325,519
334,217
M Jan 1 to Sept 30
1,035,204
988,844
Lehigh Valley.b
Oct 3,384,100 3,344,380
July 1 to Oct 31
12,409,081 11,912,704
0 Mexico N W Ry.a
Oct
218,690
122,973
Oct 31
1,843,337
1,029,068
Pitts cine Ch A St L_a--0ct*3,087,605
2,969,747
Jan 1 to Oct 31
28,855,414 24.686,468
Raleigh A Southport.b-_Oct
15,332
14,265
July 1 to Oct 31
52,148
49,535
Rio Grande Junction...Sept
100,463
96,250
Dec 1 to Sept 30
843,176
765,504
Southern Railway.b
Oct 5,471,391
5,326,232
July 1 to Oct 31
20,314,512 19,166,561
West’n Maryland Ry.a.Sept
665,658
610,391
July 1 to Sept 30
2,003,356 1,733,046
1
to
Keystone Teleph Co.«..Oct
July 1 to Oct 31
g Mexican Lt A Pow Co.Oct
to
Oct Sl.i
D D E B A Bat (Rec)
Duluth-Superior Trac
East St Louis A Sub.
El Paso Electric
Falrm A Clarks Tr Co
Ft Wayne A Wabash
These results
«
These
96,345
379,154
676,120
5.824.444
91,560
364.411
517,271
4.951.051
are in Mexican currency.
Hern res renresent 30 o ol gross
4,600,356
119,761
1,028,244
817,535
6,260,544
6,203
16,525
7230,189
n252,952
2,011,405
6,760,002
r246,641
r775,032
48,029
189,616
491,400
4,104,503
7,070
18,822
7128,875
72229,651
1,982,188
6,589,729
r232,534
7-661,355
234,209
2,272,834
46,016
183,344
399,475
2.182,945
earnings.
Interest Charges and Surplus.
Roads.
fltinrent
Current
Year.
$
PrMiinuf
Previous
—Bal. of Net E'ngs.—
Year.
Current
Year.
$
$
Previous
Year.
s
2.518.019 2,400,120 xl.173,464 xl,760,734
7,541,076
7,180,880 Xl,416,309 x2,493,086
Chicago Great Western..Oct
191.892
222,467
214,437
177,604
July 1 to Oct 31
202,404
518.076
997,968
82$,190
Copper Range
12.784
Aug
15,712
16,546
11,898
July 1 to Aug 31--.,.,
37,353
21,714
23,875
$1,425
Greenwich A Johnsonv—
July 1 to Sept 30
X4.042
12,511
X6.824
11,679
Jan l to Sept 30.
xlO.680
38,376
X12.866
37,696
Lehigh A Hudson River—
July 1 to Sept 30
29,075
73,605
81,834
42,183
Jan 1 to Sept 30
109,235
225,989
231,108
165,863
Rio Grande Junction
Sept
20,542
8,333
21,806
8,333
Dec 1 to Sept SO
169,619
146,318
83,333
83,333
INDUSTRIAL COMPANIES.
Cumb Tel A Tel Co
Oct
48,432
192,408
41,801
224,517
Opt
3t
483,406
434.221 1,988,346 1,848,613
Keystone Telephone Oo.Oct
24,519
21,035
24,981
23,510
July 1 tO Oct 31
98.169
81,536
101.808
91,457
* After allowing for other Income received.
_
3,279,158
1,405,845
471,776
79,827
3,025,511
1,134,725
1,038,350
739,121
894.605
858,541
1,788,395
1,296.068
444,669
_.
-.
136.685
July
135,584
110,145
oil:,267
.737
42,-3
September
October
Wk Nov 20
--
132,736
120,947
82,519
800,671
966,136
947.928
39,091
1,909,287
100,837
September
37,725
334,557
37,214
Houghton Co Trac Co September
26,710
28,732
237,450
Hudson A Manhattan July
179,160
1,469,317
Illinois Traction Co._ September
529,291 455,137 4,404,389
Interbor R T (Sub).. July
859,446
8,234,227
Interbor R T (Elev) July
1192,211
8,880,257
Jacksonville Elect Co September
38,375
45,995
423,414
Kans City Ry A Lt Co October
693,420 642,238 6.189,534
Lake Shore Elec Ry_ September
115,009 108,207
913,664
25,530
Long iBland Electric. July
29,158
116,646
Jul]
8.252,816
1123,198 1062,674
Metropolitan St (Rec)
Milw El Ry A Lt Co.
406,919 376,355 3,863,695
Mllw Lt Ht A Tr Co. October
89,028
77,696
896,007
Montreal Street Ry_- October
386,688 354,007 3,712,797
Nashvilie Ry A Light October
161,502 148,992 1,503,854
New Orleans Ry A Lt September
493.491 466.738 4,629,019
N Y City Interbor... July
125,828
22,335
16,597
N Y A Long Island Tr July
38,805
42,771
202,788
N Y A Queens County July
123,861 102,225
631,698
Norf A Portsm Tr Co September
172,065 158,234
North Ohio Trac A Lt October
208,342 184,815 2,045,748
North Texas Elec Co. September
118,192 104,829 1,041,568
Northwest Elec Co__ October
193,914 184,430 1,833,958
Ocean Electric
July
26,367
64,335
29,629
Paducah Tr A Lt Co. September
21,251
19,096
Pensacola Electric Co September
23,264
21,649
199,464
Port(Ore)Ry,LAP Co October
503,485 426,708 4,609,974
Puget Sound Elec Co September
160,545 179,956 1.445.274
Richmond Lt A RR July
195,133
47,797
42,658
Rio de Janeiro Tram
965,265 645,195 8,999,034
Light & Power Co- October
St Joseph (Mo) Ry Lt
Heat A Power Co-. September
92,034
88,285
766,750
Sao Paulo TrLt&P. October
255,628 205,146 2,406,201
Savannah Electric Co September
468,183
51,598
49,523
Seattle Electric Co
September 481,158 568,494
Second Avenue (Rec) July
81,729
87,462
466',88 5
Southern Boulevard. July
61,441
11,470
9,777
Sou Wisconsin Ry Co October
15,606
149,597
13,651
Staten Isl Midland
July
37,082
149,793
41.446
Tampa Electric Co.. September
47,108
459,205
44,969
Third Avenue (Rec). July
327,662 281,632 2,082,343
Toledo Rys A Lt Co. September
239,415 217.738 2,178,648
Toronto Ry Co
October
379,721
332,977 3,575,659
Twin City Rap Tran. 2d wk Nov 143,518 129,301 6,546,579
Underground El Ry
__
__
..
..
..
-.
__
._
of London—
Three tube lines
Metropolitan Dist_
United Tramways
Union (Rec)
UnionRy ,G AECo (Ill)
United RRs of San Fr
Westches Elec (Rec).
Whatcom Co Ry A Lt
_
Yonkers RR
c
Wk Nov 19
£13,445
£11,378
£4,972
235,749
241,764
653.921
Wk Nov 19
Wk Nov 19
July
September
September
July
September
65,761
33,781
65,236
(Rec)_. July
305,614
242,425
3,870",153
£13,835
£11,084
£4,966
198,934
224,313
624,261
53,291
34,835
£588.195
£495,547
350,587
5,697,049
835.061
106,296
8,083,629
3,493.240
783,825
3,293.772
1,415,675
4,445.669
95,422
187,510
557,435
1,818,987
910,119
1,707,858
60.215
184,050
3,974.355
1,410,887
189,996
6,252,690
722,808
1,981,417
451.818
484",213
49,250
134,061
146.097
436,254
1,729,480
1,981,436
3,190,268
6,030.426
£581,070
£454,114
£291,446
£279,446
1,276,262
2,137,596
5,667.220
295,866
299,290
1,166.405
2,016,724
5,457,039
237,692
295,190
These figures are for consolidated company.
Electric
Railway Net Earnings.—In the following
we
show
both the gross and the net earnings to latest dates of all
ELECTRIC railways from which we have been able to pro¬
monthly returns. The returns of the different roads
published by us each week as soon as received, and once
month we bring together all the roads reporting, as is
cure
are
a
done to-day.
Gross Earnings
Previous
Current
Year.
Year.
Roads.
After allowing for msoellaneous receipts and net from coal and other;
departments, total net earnings for Sept. 1910 were $269,256, against
$282,857 In 1909; and from July 1 to Sept. 30 were $832,400 in 1910,
against $775,068 In 1909.
—Int., Rentals, Ac.—
Year.
-----
$
r
Boston A Maine—
July 1 to Sept 30.,
Jan 1 to Sept 30
49,173
137,662
Previous
8,249
70,749
34,910
July
216,505 183,187 1,496,110 1,276,482
11,974
12,832
103,902
94,130
September
2162,186 2018,122 12,601,238 11,771,268
July
28,835
25,890
217,063
187,904
September
17,402
17,545
154,349
141,318
September
61,262
54,159
364,055
July338,374
October
691,474
68,635
62,773
627,520
67,806
650,947
574,785
77,022
September
September 1175,420 1066,056 9,014,329 8,188,754
33,642
31,361
269.381
242.206
September
867.203
199.684 178,551
859.064
July
119,804 107,570 1,037,613
931,301
September
2d wk Nov 160,562 149,067 8,112,585 6,924,982
53.853
364.139
55,761
356,987
July
October
95,278
87,235
906,006
810,837
211,249 176,402 1,756,761 1,481,078
September
54,846
50,501
460,332
September
426,875
October
504,497
387,874
41,433
58,504
Net earnings
(Net
earnings here
here given
given axe
are after
beforededucting
taxes.'*■
deductingtaxes.
a
49,593
8,881
37,330
Valley Traction Co September
42dStMASNAv (Rec)
Galv-Hous Elect Co.
Grand Rapids Ry Co.
Havana Electric Ry.
Honolulu Rapid Tran
A Land Co
$
310,419
..
INDUSTRIAL COMPANIES.
Cumb Tel A Tel Co.b-.-Oct
612,390
535,324
272,949
Jan 1 to Oct 31
5,691,083
5,292,954
2,471,752
Jan 1
Coney Isl A Brooklyn
Dallas Electric Corp.
Detroit United Ry
2
339.378
154,359
Current
Year.
._
12,130,578 11,658,848
Chicago Great Western b Oct 1,245,453
July 1 to Oct 31
4,443,840
Copper Range.b
Aug
66,774
July 1 to Aug 31
137,508
Jan
Previous
Year.
$
Oct 8,168,817
Jan 1 to Sept 30
Canadian
—Net Earnings
Current
Year.
$
Carolina Pow A Lt Co
Cent Park N A E Rlv
Central Penn Trac
Year.
__
14,206
18,756
14,555,983 14,373,360
..
Jan. 1 to latest date.
Previous
_
1,093
3,705
256,190
Bklyn Rap Tran Sys.
Cape Breton Elec Co.
Cleve Palnesv A East
3,168
924,271
1,132,230
159,700
14,614
120,597
Blrm’ham Ry Lt A P
Brockt’n A Ply St Ry
Chattanooga Ry A Lt
Chicago Railways Co.
899,760
152,124
65,749
..
Baton Rouge Elec Co September
Binghamton St Ry._ July ,....
22,000
6,100
4,027
_.
COMPANIES.
American Lt A Tr Co
Jan 1 to Oct 31
Oct
356,685
3,009,842
Aurora Elgin A Chic.b_.Oct
154,359
July 1 to Oct 31
677,075
Bangor Ry A Elec Co.b-Oct
49.593
July 1 to Oct 31
216,472
Baton Rouge El Co.b
8,881
Sept
Jan 1 to Sept 30
79,827
$
318,847
2,619,970
Net Earnings
Current
Previous
Year.
Year.
70,749
345,559
2.909.292
68,576
333,026
29,552
128,933
2,744
27,791
$
304.982
2,531,914
63.890
315,533
29,13 2
125,157
3,285
20,010
152,172
146,403
137,662
618.116
49,173
210,051
8.249
$
Binghamton St Ry.b—
Oct 1 to Sept SO-...-.
355,544
338,959
Boston A Wore St Ry
Oct
July 1 to Oct 31
Brock A Plym St Ry.b. Sept
50,439
264,335
11,975
94,130
28,835
217,063
17,402
154,349
47,181
248,082
12,832
103.902
25,890
187,904
17,545
141,318
68,365
691.474
62,773
627,520
Chattanooga Ry A Lt b Sept
77,022
Jan 1 to Sept 30--..^.
650,947
Chicago Railways Co..;.Sept 1,175,420
Jan 1 to Sept 30.T
9,014,329
Cley Palnesv A East.a..Sept
33,647
Jan 1 to Sept 30......
269,381
Columbus Elect Co.b..-Sept
39,236
67.806
574,785
1,066,056
8,188,754
31,361
242,206
31,604
Jan 1 to
Sept 30_.
Cape Breton El Co.b...Sept
Jan 1 to Sept 30
Carolina Power A Lt
Sept
Jan 1 to Sept 30
Central Penna Tract Co..Oct
Jan 1 to Oct 31
-
w
—.,«r
-
4,447
29.837
15,722
12.623
72,512
98,739
6,296
7,459
62,803
53,373
18,218
17,986
198.153
164.825
30,696
38,636
317,426
240,313
n352,626
*>319,317
f>2,704,298 *>2,456,626
15,480
14,149
130,366
113.621
22,526
13.275
1440
THE CHRONICLE
Companies.
Cleveland Southw A Col.Oct
Jan 1 to Oct 31
Gross Earnings
Current
Previous
Year.
Year.
$
$
Net Earnings
Current
Previous
Year.
Year.
$
$
93,188
41,932
30,132
81,524
289,904
849,659
748,517
369,096
Dallas Elect Corp.b
Sept
107,570.
44,266
33,058
119,804
Jan 1 to Sept 30.
334,093
1,037,613
931,301
326,659
Detroit United Ry.b
Oct
711,476
286,397
239,976
809,455
Jan 1 to Oct 31
7,837,433
6,674,907
2,828,950
2,500,875
Duluth-Sup Trac Co.b--Oct
95,278
35,732
44,983
87,235
Jan 1 to Oct 31
906,006
810.837
394,895
329,35j
East St Louis & Sub. b._Sept
89,078
176,402
109,260
211,249
Jan 1 to Sept 30
1,756,761
1,481,078
830,010
663,072
El Paso Elect Co.b
Sept
54,846
50,501
20,627
23,463
Jan 1 to Sept 30
460,332
426,875
194,655
166,415
Fairmont A Clarksb_b--Oct
27,080
58,504
41,433
39,118
Jan 1 to Oct 31
387,874
328,664
504,497
254,209
Ft Wayne A Wab Val.b Sept
61,672
132,736
61,188
136,685
Jan 1 to Sept 30
1,134,725
1,038,350
495,812
429,811
Galv-Houst El Co.b.
100.837
Sept
110,145
46,837
44,474
Jan 1 to Sept 30
966,136
894,605
374,238
369,950
Grand Rapids Ry Co.b.Oct
91,267
45,115
41,011
82,519
Jan 1 to Oct 31
454,071
858,541
486,001
947,928
Houghton Co Tr Co.b
Sept
26,710
14,057
14,703
28,732
Jan 1 to Sept 30
237,450
242,425
110,725
111,891
Honolulu RT A LtCo.b.Sept
37,725
18,905
37,214
20,973
Jan 1 to Sept 30
334,557
305,614
160,347
149,674
Illinois Traction Co
455,137
Sept
529,291
232,834
200,996
Jan 1 to Sept 30
4,404,389 3,870,153
1,815,642
1,645,181
Interborough R T Co.a.Oct c2,547,654 2,527,424 cl,411,212
1,482,660
July 1 to Oct 31
8,968,020 8,823,992 4,628,629 4,788,956
Jacksonville El Co.b_.-Sept
45,995
38,375
18,839
17,568
Jan 1 to Sept 30
423,414
350,587
193,633
148.690
Kan City Ry & Lt
Oct
693,420
642,238
279,500
282,324
June 1 to Oct 31
3,184,789
2,944,481
1,282,695 1,278,066
Lake Shore El Ry.a—Sept
115,009
108,207
60,592
58,365
Jan 1 to Sept 30
913,664
835,061
440,504
395,370
Lewiston Aug & Waterv.Oct
43,090
43,332
18,564
17,162
July 1 to Oct 31.
217,712
220,686
110,573
100,943
q Mexican Tramways
Oct
527,603
454,637
267,768
229,542
Jan 1 to Oct 31
4,885,622 4,514,160 2,488,192 2,244,246
Mllw El Ry A Lt_b-----Oct
406,919
376,355
193,176
187,459
Jan 1 to Oct 31
3,863,695 3,493,240
1,779,589
1,767,172
Mllw Lt, Ht A Tr Co.b.Oct
89,028
77,696
50,285
44,719
Jan 1 to Oct 31
896,007
783,825
504,514
458,923
Montreal St Ry.b
Oct
386,688
354,007
180,938
179,272
Nashville Ry A Lt.a
Oct
161,502
148.992
66,271
59,799
Jan 1 to Oct 31
1,503,354
1,415,675
630,125
579,353
New Orl Ry A Lt
Sept
493,491
466.738
223.419
195,089
Jan 1 to Sept 30
4,629,019 4,445.669
2,112,229
1,970,192
Norf A Portsm Trac.b.-Sept
172,065
158,234
74,033
69,861
July 1 to Sept 30-----557,798
512,671
252,213
226,799
Nor Ohio Tr A Lt.a
Oct
208,342
184,815
94,971
84,015
Jan 1 to Oct 31
2,045,748
1,818,987
922,519
830,457
Northern Texas El Co b. Sept
118,192
104,829
56,598
47,043
Jan 1 to Sept 30
1,041,508
910,119
476,948
400,107
Paducah Tr A Lt Co.b.-Sept
21,251
19,096
9,987
8,201
Pensacola El Co.b
Sept
23,264
21,649
9,305
8,821
Jan 1 to Sept 30
199,464
184,050
81,642
79,179
Portland (Ore) Ry,L& P.b.Oct
503,485
426,708
278,367
237,987
Jan 1 to Oct 31
4,609,974 3,974,355 2,617,587
2,134.406
Puget Sound El Ry.b..Sept
160,545
179,956
61,937
72,351
1
to
Jan
Sept 30
1,445,274 1,410,887
503,673
476,796
Rio de Jan Tr, Lt A P.a.Oct
965,265
645,195
494.420
282,716
Jan 1 to Oct 31
8,999,034 6,252,690 4,412,251
2,504,518
St Jos(Mo)Ry,L,HAP b Sept
92,034
88,285
45,702
47,476
Jan 1 to Sept 30
766,750
722,808
352,300
348,278
Sao Paulo Tram, LAP.a.Oct
255,628
205,146
162,718
125,647
Jan 1 to Oct 31
2,406,201
1,981,417
1,535,273
1,229,906
Savannah Elect Co.b
Sept
51,598
49,523
18,992
17,492
Jan 1 to Sept 30
468,183
451,818
162,829
158,639
Seattle Elect Co.b
Sept
481,158
568,494
206,453
263,153
Tampa Elect Co.b
44,969
Sept
47,108
21,059
19,855
Jan 1 to Sept 30
459,205
436,254
204,436
178,019
Toledo Rys & Lt Co.b-Sept
239,415
217.738
86,008
95,959
Jan 1 to Sept 30
2,178,648
1,981,436
825,082
847,387
Toronto Railway
Oct
379,721
332,977
191,153
164,319
Jan 1 to Oct 31
3,575,659 3,190,268
1,734,324
1,571,888
Trl-Clty Ry & Lt
Oct
222,217
178,223
90,930
78,120
Twin City R T Co.b
694,852
Sept
645,197
371,791
375,162
Jan 1 to Sept 30
5,620,369
5,176.420 2.932,262 2,743,852
Underground El Rys London—
Metropolitan Dlstrh fa )ct
£58,937
£54,718
£30,718
£26,099
London Electric Ry..v)ct
£61,358
£60,257
£30,187
£28,370
London United Tram.Oct
£28,149
£26,151
£6,406
£7,881
Union Ry,G A E (Ill) .b Sept
241,764
224,313
112,627
107,783
Jan 1 to Sept 30
2,137,596
2,016,724
940,427
986,073
United Rys of St L.a
Sept
965,943
924.993
323,761
335,636
Jan 1 to Sept 30
8,559,204
8,195,315
2,790,378
2,977,610
United RRs of San Fr.b Sept
653,921
624,261
308,904
281.530
Jan 1 to Sept 30
5,667,220 5,457,039 2,443,151 2,308,800
Western Ohio Ry.b
Oct
49,517
43,325
23,997
21,413
July 1 to Oct 31
212,903
186,366
109,411
93,931
Whatcom Co Ry A Lt.b Sept
33,781
34,835
16,450
15,878
Jan 1 to Sept 30
299,290
295,190
118,992
127,502
a Net earnings here given are after deducting taxes
b Net earnings here given are before deducting taxes,
c Increase In operating
expenses Is largely due to extraordinary expendi¬
tures, the result of changes In subway equipment made necessary In con¬
nection with the operation of ten-car express and six-car local trains
_
'
g These results are In Mexican currency.
These figures represent 30% of gross
n
Interest
Companies.
Aurora Elgin A Chic
July 1 to Oct 31
Bangor Ry & Elec Co
July 1 to Oct 31
Baton Rouge Elec Co
Binghamton St Ry—
Oct 1 to Sept 30
Brock A Plym St Ry
Jan 1 to Sept 30
Cape Breton El Co
Jan 1 to
Sept 30
Chattanooga Ry A Lt
Jan 1 to Sept 30
Clev Painesv A East
Jan 1 to
Charges and Surplus.
—Int., Rentals, &c.—
Current
Previous
Year.
Year.
$
$
Oct
33,779
28,413
132,440
117,077
Oct
13,734
12,965
54,645
52,449
Sept
1,945
1,951
Sept
Sept
Sep
Sept
Sept 30
Cleveland Southw A Col.Oct
Jan 1 to Oct 31
Columbus El Co
Sept
earnings.
—Bal. of Net E’ngs.—
Current
Previous
Year.
Year.
$
$
34,797
200,586
15,818
74,288
799
108,899
1,359
15,435
6,148
48,910
23,692
210,901
8,116
72,607
27,926
108,547
43,273
1,641
3,088
14,402
9,574
49,829
14,944
106,838
7,364
57,728
280,341
248,141
12,711
17,908
16,347
6,281
48,914
23,512
193,063
7,850
67,600
26,358
14,006
88,755
4,618
34,477
198,456
16,167
72,708
1,334
37,856
1,833
15,502
6,342
23,598
7,184
47,250
6,299
46,021
3,774
41,763
564
[VOL.
—Bal. of
Current
Year.
-Int., Rentals, &c.—
Current
Year.
$
Companies.
Dallas Elect Corp
Jan 1 to Sept 30
Sept
Detroit United
Jan
1
to
Previous
Year.
26,013
234.183
Oct
178,429
1,689,549
Oct
24,066
202,649
48,394
Sept
450,695
Sept
8,216
Oct 31...
Duluth-Sup Trac
Co
Jan l to Oct 31
East St Louis A Sub
Jan 1 to Sept 30
_.
LXXXXI
Net E'ngs.—
Previous
Year.
$
25,109
251,861
$
18,253
92,476
$
7,949
82,232
155,972
£120,417
£97,320
1,565,479 £1,265,057 £1,056,918
20,917
20,757
188,847
192,246
60,866
379,315
15,247
119,597
75,058
49,345
445,112
8,185
71,997
13,112
126,739
12,655
123,803
45,112
405,554
42,672
381,445
26,006
201,925
16,076
90,258
26,199
210,240
22,824
192,225
20,638
163,998
Oct
19,979
Oct 31.
198,930
Houghton Co Trac Co..Sept
6,638
Jan 1 to Sept 30
57,361
Honolulu R T A Ld Co..Sept
6,940
Jan 1 to Sept 30
58,818
Interborough R T Co
Oct
904,812
July 1 to Oct 31...
3,557,971
Jacksonville Elect Co...Sept
9,451
Jan 1 to Sept 30
83,156
Kansas City Ry A Lt...Oct
193,806
June 1 to Oct 31
943,532
Lake Shore Elec Ry
34,928
Sept
Jan 1 to Sept 30
313,008
Lewlst Aug A Water...Oct
13,780
July 1 to Oct 31
54,965
Mllw Elect Ry A Lt
Oct
116,501
Jan 1 to Oct 31
1,125,802
Mllw Lt, Ht A Tr Co
Oct
69,825
Jan 1 to Oct 31
705,188
Montreal St Ry.
..Oct
31,998
Nashville Ry A Light...Oct
33,390
Jan 1 to Oct 31
335,646
New Orl Ry A Lt Co._.Sept
176,219
Jan 1 to Sept 30.. ...
1,588,753
Norf A Portsm Trac
Sept
62,857
July 1 to Sept 30
194,298
Nor Ohio Tr A Lt
Oct
43,367
Jan 1 to Oct 31
433,528
Northern Texas El Co. .Sept
19,690
Jan 1 to Sept 30.
174,455
Paducah Tr A Lt Co
7,126
Sept
Pensacola Elect Co
5,207
Sept
Jan 1 to Sept 30
45,240
Portland (Ore) Ry, L A P.Oct
152,229
Jan 1 to Oct 31
1,399,194
Puget Sound El Ry
51,973
Sept
Jan 1 to Sept 30
458,295
St Jos (MoKRy, L A P-.Sept
23,158
Jan 1 to Sept 30
203,759
Savannah Elect Co
18,157
Sept
Jan 1 to Sept 30
160,208
Seattle Electric Co. _j_ Sept
110,933
Tampa Elect Co
6,018
Sept
Jan 1 to Sept 30
45,299
19,314
190,084
6,216
53,788
25,136
287,071
7,419
54,530
El Paso Elect Co
Jan l to Sept 30
Fairmont A Clarksburg. _Oct
Jan 1 to Oct 31-.
Ft Wayne A Wab
Val_.Sept
Jan 1 to Sept 30
...
Galv-Houston
Jan
El Co
Sept
1 to
Sept 30
Grand Rapids Ry.
Jan
1
to
Trl-Clty Ry A Lt—
Toledo Rys A Lt Co
Jan 1 to Sept 30
Twin City Rap Tr Co
Jan 1 to Sept 30.
Oct
Sept
44,373
78,192
690.710
_
.
.
_
—
39,733
217,960
12,442
94,418
14,425
130,406
19,000
48,366
21,650
177,725
21,697
263,987
8,487
56,937
6,378
£15,154
£12,482
55,757
£106,793
£99,467
858,042
£535,950
£658,322
3.508,023 £1,188,463 £1,445,950
9,522
9,388
8,046
83,610
110,477
65,080
175,293
865,630
85,694
339,163
107,031
412,436
34,804
309,093
25,664
127,496
23,561
86,277
15,080
59,310
3,382
45,978
3.484
51,263
£80,734
£744,823
£24,439
£263,871
148,193
26,776
251,047
112,764
1,065,605
65,386
£81,663
646,237
£706,126
£25,718
£265,400
31,079
148,940
33,023
328,306
172,186
1,552,752
63,058
188,527
44,114
437,456
17,190
154,684
6,613
32,831
294,478
4,335
39,053
126,873
1,238,208
48,552
422,260
22,058
192,080
17,444
155,251
fc
47,200
523,476
11,177
57,914
51,604
488,991
36,908
302,493
2,861
4,098
36,402
126,138
1,218,393
9,964
45,378
22,544
148,541
22,903
417,440
6,803
37,272
39,901
393,001
29,853
245,423
1,588
4,486
40,126
111,114
896,198
23,799
54,536
25,418
156,198
835
48
2,621
3,388
106,944
95,520
4,615
41,183
15,041
159,137
156,209
15,240
136,836
43,428
75,484
652,203
140,251
1,248,510
68,892
590,578
140,286
1,261,653
Union Ry G A E Co (Ill) Sept
66,981
Jan 1 to Sept 30.
593,455
United Rys of St Louis. .Sept
233,233
232,132
Jan 1 to Sept 30
2,100,709
2,101,632
Western Ohio Ry
Oct
15,833
16,681
July 1 to Oct 31
65,667
63,251
Whatcom Co Ry A Lt._Sept
9,084
8,069
Jan 1 to Sept 30
78,707
74,289
c Includes dividend on preferred stock.
x After allowing for other income received.
Sept
14,975
188,847
46,557
34,692
£8,261
£136,773
231,505
1,670,609
£20,834
£197,383
234,911
1,495,342
45,646
346,972
£96,548
£720,315
7,316
43,744
3 .* 7,366
40,285
38,891
395,495
£107,839
£907,049
5,580
30,680
7,803
53,219
ANNUAL REPORTS,
Annual Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since Oct. 29.
This index, which is given monthly, does not include
reports in to-day’s “Chronicle.”
Railroads—
Pages.
Alabama Great Southern RR
1156
Alabama A Vicksburg Ry
1248
Ann Arbor RR
1383
Atlantic Coast Line RR
1382, 1389
Bangor & Aroostook RR
..1155
Canadian Northern Ry
1322
Central Vermont Ry
1324
1154
Chicago & Alton RR
Chic. Burl. A Quincy RR
1242, 1259
Chicago A Eastern Illinois RR
1243
Chicago Great Western RR
1243
Chicago Rock Island A Pacific RR..1154
Chicago Rock Isl. A Pac. Ry_1154, 1181
Cine. New Orl. A Texas Pacific Ry_1246
Cleveland Terminal A Valley RR...1324
Coal A Coke Ry
1246
Colorado A Southern Ry
1155, 1186
Cripple Creek Central Ry
1157
Detroit A Mackinac Ry
1247
Detroit Toledo A Ironton Ry
1383
Evansville A Terre Haute RR
1242
Fonda Johnstown A Gloversv. RR.1324
Georgia Southern A Florida Ry....ll60
Gulf A Ship Island RR1245
1323
Louisiana A Arkansas Ry
1383
Mexican International RR
Mobile A Ohio RR
1156
National Railways of Mexico
1382
New Orleans & North Eastern RR.1323
Western RR.1156
1153, 1175
Reading Co. (balance sheets)
1248
Rock Island Co
1153
St. L. Rocky Mt. A Pac. Co.. 1161, 1244
St. Louis A San Francisco RR.1242, 1257
Toledo St. Louis A Western RR
1387
Tonopah A Goldfield RR
1245
N. Y. Susquehanna A
Northern Pacific Ry
Railroads (Continued)—
Page.
Yazoo A Mississippi Vail. RR.1261, 1242
Electric Railroads—
Mass. Elec. Cos. (prelim, statem’t). 1254
Michigan United Ry
Montreal Street Ry
1157
.1249
Industrials—
Alils-Chalmers Co
1249
American Cotton Oil Co
1325, 1334
American Malting Co
1252
American Malt Corporation
1249
American Shipbuilding Co
1250
American Smelters Securities Co.
(official statement)
1327
Consolidated Gas, Electric Light A
Power Co. of Baltimore
1251
Consumers’ Gas Co. of Toronto
1326
Diamond Match Co
.1325
Edison Elec. Ilium. Co. of Boston.. 1159
Granby Con. Min. Smelt. A Pow. Co. 1250
Intercontinental Rubber Co. of N. J.1325
Independent Brewing Co. of Plttsb.1325
Inland Steel Co
1326
International Textbook
1326
National Telephone Corp. (statement
for half-year)
1326
Nlpe Bay Co.
Ogllvie Flour Mills Co
Pittsburgh Brewing Co
1251
1326
1325
Pullman Co
1158
Ray Consolidated Copper Co
Shannon Copper Co
Standard Milling Co
1250
1388
1159
United Fruit Co
United States Express Co
United States Finishing Co
United States Steel Corp. (9
Vlctor-Amerlcan Fuel Co
1391
1384
1252
mos.)..1158
1153, 1164 Virginia Iron, Coal A Coke Co
Vicksburg Shreveport A Pac. Ry..l324 Wells-Fargo A Co.
Virginia A Southwestern Ry.1247
Union Pactflo RR
1252
1252
1158
Nov. 26
THE CHRONICLE
1910.|
Mexican International Railroad.
Ferrocarriles Nacionales de Mexico.
(National Railways of Mexico.)
(Report for Fiscal Year ending June 30 1910.)
The remarks of Vice-Chairman of the Board Pablo Macedo
and President E. N, Brown will be found on subsequent
pages.
Tables showing the principal statistics of operations,
eirnings, charges and balance sheet were given in last week’s
“Chronicle” on page 1382.
Interoceanic Ry. of Mexico (Acapulco to Vera Cruz), Ltd.
{Report for Fiscal Year ending June 30 1910.)
Secretary N. Strzelecki, London, Nov. 4, reported:
General Results.—The company having taken over the Mexican Southern
By. (292 miles—see V. 89. p. 1542) on lease Jan. 1 1910, the accounts and
statistics now submitted include the results of the operation of that line
from that date (as well as those of the Mexican Eastern By.), but such
results are not included for 1908-09.
During the year the average rate of exchange was about 24.52d. per
dollar, as against 24.51d. during the preceding year;
Owing to the Inclusion of the earnings of the Mexican Southern Ry.
from Jan. 1 1910, detailed comparisons with the previous year’s results
are impracticable, but the following general comparisons are subjoined.
The gross receipts show an Increase of 91,268,570, as compared with the
which wasbycontributed
by which
Erevious
year, 9713,570
the Mexican
Southern
,y.
Passenger
earningsofincreased
9331,053, of
9207,928
repre¬
sents Mexican Southern
traffic.
Goods traffic shows
increase of 91,158,-
an
719, of which 5445,093 was from Mexican Southern traffic.
The decrease of 3263,131 shown In “express” earnings Is accounted for
by the fact that whereas the figures for the year ended June 30 1909 repre¬
sent the gross receipts, those for the present year represent the gross
receipts for July and Aug. 1909 only, and since Sept. 1 1909 the actual net
amount received by the company under a contract made for the conduct
The contract Is producing satisfactory results.
of this business.
There was an Increase of 9623,328 In working expenses, 5440,550 of
which Is accounted for by the Inclusion of the Mexican Southern By., the
net Increase In the case of the Interoceanic being 5182,778, due to the larger
volume of business handled.
The ratio of working expenses to receipts
was 63.14%, as compared with 65.78%, a reduction of 2.64%.
The separate results of the working of the Mexican Southern By. show
the net profit from Jan. 1 to June 30 1910 to be £27,903, whereas the rental
payable for that period amounts to£33,225, a difference of £5,322. The
possibility of there being some loss on the working of the early
years of the
recognized when the line was acquired, and it was accordingly
proposed In the last annual report that the reserves of the Southern Co.,
amounting to £27,869, which this company took over, together with the
company’s own reserve of £42,443, should be placed to a special reserve
account to be drawn upon in the event of any deficiencies.
The amount of £5,322 has therefore been transferred from the special
lease was
reserve account to
the credit of net revenue account.
It has been decided
to write off
during three years the amount of consideration paid for the
granting of the Mexican Southern lease and the expenses In connection
therewith, which together total £24,562 9s. lid., and accordingly one-third
of that amount Is debited against net revenue this year.
Dividends.—The directors propose to pay from the year’s balance [and
we have
included In the income account below.—Ed.] £2 5s%, less in¬
come tax, on the
4K% 2d debenture stock, making, with the interim
payment of May 30 1910, 4 £ 10s.% for the year; (b) £3 10s.%, less income
tax, on the 7% “B" debenture stock, making, with the Interim payment
of May 30 last, £7% for the year; (c) a dividend of £2 10s.%, less Income
tax, on the first pref. stock, making, with the interim payment of May 30
last, £5% for the year; and (d) a dividend of £4%, less income tax, on the
2d pref. stock.
The above distributions will absorb £117,306 Is. 4d. and
leave £7,669 5s. lOd. to be carried forward.
Second Debenture Stock.—Under the terms of issue of the 4H% second
debenture stock it is provided that the stock shall enter into Its full rights
when the net revenue has for five consecutive years been sufficient to pro¬
vide the full interest on that stock and on the “B” debenture stock.
After
making the above payments this provision will become effective, and
accordingly the Interest on the stock will in future be paid half-yearly on
May 30 and Nov. 30. The payment of Interest to be made on Nov. 30 1910
will be in respect of the five months from July 1 1910.
Traffic Agreement.—As briefly stated in the last report, an agreement
for the pooling of all competitive passenger traffic has been arrived at with
the Mexican Ry. Co., the term being for 7 years, expiring Oct. 31 1916.
The negotiations, also referred to in the last report, for the
pooling of all
competitive goods traffic between the National Rys. of Mexico, Including
the interoceanic Ry., and the Mexican Ry. Co., reached a satisfactory
conclusion towards the end of last year, and an agreement was made which
also continues until Oct. 31 1916.
Capital Expenditures.—A further issue of £125,000 4% 1st Ml debenture
stock has been made by the Southern Co. in accord with this company, to
cover cost of various works which are being carried out on capital account.
The principal work which we are carrying out is on the Metepec to San
Lorenzo deviation, upon which 3317,494 had been spent up to June 30 last.
This work Is one of those contemplated in the report for 1908, with the
object of eliminating certain heavy grades and curves, thereby enabling
more economical and efficient working.
Some £6,767 was also spent on
replacing old rails with a heavier rail, which amount represents the value
of the increased weight only, the balance being charged to revenue.
To provide in part for the above expenditure, £37,000 4
debentures
received from the Vera Cruz Terminal Co. have been sold, and further
amounts will be realized as work proceeds.
EARNINGS AND EXPENSES (MEXICAN CURRENCY).
1909-10.
Average miles operated.
Passengers carried
Rects. per pass, per mile
878
1,955,886
2.7 cts.
943,791
5 cts.
Tons of freight carried..
Rects. per ton per mile.
Number of ton miles...107,848,225
Earnings—
3
Passengers
Freight
1,475,138
5,869,290
Miscellaneous
Total
Operating expenses....
_
Net earns (Mex. curr.)._
Net earns. (sterling)
1908-09.
734
1907-08.
736
1906-07.
736
1,662,243
1,690,545
1,561,987
2.5 cts.
2.5 cts.
2.5 cts.
820,010
901,804
6 Cts.
5.0 cts.
868,667
5.0 cts.
84,473,318 106,899,281 101,235,851
3
3
3
1,108,883
1,195,388
1,144,085
5,236,693
5.604,857
4,710,570
642,870
864,073
900,860
847,349
7,987,298
5,043,184
2,944,113
£300,911
6,718,728
4,419,856
7,701,105
5,395,657
2,305,448
£235,402
7,192,925
5,297,459
2,298,8?2
£234.719
INCOME ACCOUNT (STERLING)
Net earnings (as above)
Other income (see ”a”)
Rolling stock
1,895,466
£194,804
1909-10.
£
1908-09.
£
1907-08.
£
1906-07.
£
...300,911
...all,699
234,719
3,784
235,402
1,477
194,804
2,589
312,61
238,503
236,878
197,393
3,00
20,00
33,22
3,500
20.000
Net income
Deduct—
•
reserve acct__
Rent of Mex. Eastern Ry
Rent of Mex. Sou., 6 mos
Interest on prior lien deb. 5s
Int. on 1st deb. stock (4%).
46,00
Int. on 2d deb. stk. (4H%). 51,75
Dlvs. on “B” deb. stk.(7%). 32.86
Divs. on old preferred stock
Divs. on 1st pref. stock.
(5) 70.00
Divs. on 2d
pref. stock. (4)40.00
Reserve fund pref. lien deb
One-third expenses making
Mexican Southern lease..
_
.
13,308
36,999
51,750
32,862
20,000
20,000
20,000
20,000
27,995
51,750
32,862
(3^)32,500
27,995
51,750
32,862
(5)70,000 (4 H) 63,000
(1)10,000
20,000
1441
13,000
8,18
(Report for Fiscal Year ending June 30 1910.)
report will be found on subsequent
The full text of the
pages.
Comparative tables of operating statistics, earnings,
charges, &c., were given in last week’s “Chronicle,” p. 1383,
Toledo St. Louis & Western Railroad Go.
{Report for Fiscal Year ending June 30 1910.)
in substance:
President T. P. Shonts says
General Results.—The gross operating revenues for the year were $3,772;636, an increase of £343,992, or 10.03%.
Freight traffic shows an increase
of £356,620, or 13.04%.
The number of tons of revenue freight carried one
mile Increased 16.52%, while freight-train mileage increased 11.59%, Indi¬
cating improved train and car loading; the average miles each ton of freight
hauled was 191.22 miles, an increase of 5.37%.
The revenue per ton per
mile was .00499c., or a decrease of 2.92%. A number of Industries have
been located on the line of road.
The expenses for conducting trans¬
portation were £1,245,382, an Increase of £87,003, or 7.51%.
The expenditures for maintenance of way and structures were £407,87,0
increase of £33,414, or 8.92%; 1,487 tons of new rail and 79,347 cross¬
ties were placed in main track.
The wages of section men were advanced
from 12 H to 15 cents per hour.
The expenditures for maintenance of
equipment were £533,060, an increase of £155,024, or 41.07%, due to exten¬
sive repairs to locomotives and freight-car equipment.
2 locomotives were
an
scrapped and 1 sold.
CHARACTERISTICS OF LINE—TOTAL MILES 450.72.
Tangent Level
—Ascending— —Descending—
Miles. Miles. Sum in Ft. Miles. Sum in Ft.Mile
400
19
3,426
220
3,608
211
Curved
Miles.
50
June 30—
1910
COMPOSITION OF TRACK JUNE 30—TOTAL MILES 450.72.
Ft. Bridges,Ac
Miles of Ballast
Miles
June 30— Steel. Trestles. Rock. Gravel. Cinders. Slag. 80-lb. 75-lb.
1910
406
13
6,670 35,004
23
3-5
8 245
1909
42,506
19
418
13
3-5
3 245
-305.024
7,535
238,419
84
235,607
1,271
198.108
def.715
“Other
to 1909-10 Includes, besides transfer fees, £347and Interest
received, Eo.oso, the amount transferred from reserve account to balance
rental of Mexican Southern Ry.,
being difference between net earnings for
8 mos. (£27,903) and £33,225, rental
payable, £5,322.—V. 91, p. 1328.
70-lb. 61H
197
1
1
202
AVERAGE REPAIRS PER YEAR.
Per Mile
Per
Per Pass. PerFglU.
Road.
Car.
Car.
Locomotive.
1909-10
904.93
£2,397 27
£550 15
£58 21
1908-09
1,728 06
597 58
31 63
Coal Strike.—On April 1 the miners in various States made a demand for
an increase in the existing rates of pay for mining coal/and their demands
being refused by the operators, the work of mining coal was discontinued.
The operators and miners in Ohio and Indiana came to an early agreement,
and the miners in these States resumed work.
The operators and miners
in Illinois could not come to an agreement, and there was very little coal
mined in this State during April, May and June.
Your company began, early in February, at increased cost, to store coal
in anticipation of the closing down of the mines on April 1.
In April, May
and June coal was very scarce in this
consumed by the road from February
territory; the additional cost of fuel
to June, inclusive, due to the strike
situation, was £25,000.
Taxes.—The marked increase in the taxes is giving your management
much concern.
The total amount paid during the calendar year 1909 was
£165,326, an increase over the previous year of £16,406, or 11.02%. Since
1905 there has been an increase of £46,371, or 38.92%, in the yearly taxes.
Other Income.—The company has received during the year dividends
8% on its holdings of Detroit & Toledo Shore Line stock, an increase of 2%
over preceding year.
The dividends received on holdings of the Chicago &
Alton RR. Co. common stock were 2%, as compared with 4% last year.
of
Improvements.—The expenditures for additions and betterments amount¬
ed to £114,414.
The principal improvements consisted of the completion
of the Edwardsville grade reduction by the removal of 118,014 cubic yards
of earth, which material has been used in strengthening embankments and
filling bridges. The new bridges put in include a new 200-ft. through plate
girder bridge, a 10-ft. concrete arch, a 60-ft. deck plate girder bridge;
Bridge 271-B is being replaced with a 338-ft. plate girder.
General Remarks.—The results of operations for the year have not been
altogether satisfactory. While operating revenue shows an increase of
$343,992 over previous year, this has been largely offset by an increase of
$323,488 in operating expenses and taxes.
The trouble in the coal fields
resulted in considerable loss in freight revenue; and throughout the winter
there was an unprecedented fall of snow in addition to very cold weather.
While operating costs during the past ten years have been steadily increas¬
ing, rates of transportation have been gradually decreasing. The average
to
rate per passenger per mile in 1901 was 1.83c.;
1910,1.68c. The
rate per ton per mile in 1901 was 0.542c.; in 1910,
Taxes
0.499c.
average
increased
from $104,400 in 1901 to $164,147 in 1910, or 57.23%.
The labor problem
is still confronting your management, in the form of applications for further
increases.
In Ohio, Indiana and Illinois, by legislation, the passenger rate
has been reduced to two cents per mile.
Upon the other hand, so reasonable an advance as 10c. per ton In the rate
upon coal within the State of Illinois—an advance made absolutely neces¬
sary by the increased cost of transportation—has been postponed by the
Illinois RR. & Warehouse Commission until after the larger questions of the
advance in inter-State rates, pending before the Inter-State Commerce
Commission, shall have been passed upon.
Your management believes that a reasonable supervision of public utili¬
ties Is essential to the promotion of commercial prosperity and the establish¬
ment of confidence on the part of investors in railroad securities.
tive legislation, however, should be undertaken with a great deal of caution
lest it defeat the very purpose it Is Intended to remedy.
Restric¬
CLASSIFIED STATEMENT OF TONNAGE.
Products (tons) of
Fiscal
Other.
YearAgricul. Animals.
Forests.
Mines.
1909-10
483,633
121,244
1,267,298 305,068 1,063,288
961,326
1908-09
477,749
117,326 1,120,196
253,779
975 922
1907-08
609,721
151,871
1,237,142 238,459
in 1909-10 “other” includes iron and steel rails, 44,110 tons,
Total
AU.
3,240,531
2,930,3763,213,115
decrease,
107,887; bar and sheet metal, 205,003 tons, decrease, 34,679; iron—pig and
bloom, 64,040 tons, increase 50,735; other castings and machinery, 116,044
tons, increase, 95,168.
Equipment
June 30—
1910-----1909
Operations—
Pass.
—Locomotives—
—Freight Cars—
Trac.Pow.(lbs.) Cars.
No. Cap.(tons).
2,546,531
42
3,317
105,009
97
42
2,596,384
3,411
107,420
TRAFFIC STATISTICS.
1906-07.
1909-10.
1908-09.
1907-08.
No.
94
Miles operated
451
451
451
Passengers carried
692,156
661,001
712,152
Passengers carried 1 mile 26,640,808 27,659,139 32,524,053
Earn, per pass, per mile
1.676 cts.
1.652 cts. . 1.598 cts.
Pass. earn, per train mile
$0.70
$0.78
£0.69
Tons freight carried
2,930,376
3,240,531
3,213,115
Tons fght. carried 1 m_.619,644,082 531,797,878 612,646,605
Earns, per ton per mile.
0.499 cts.
0.514 cts.
0.502 cts.
Freight earn, per train m
$2.40
$2.37
$2.33
Avge. tons per train mile
481.3
460.9
465.0
Gross earnings per mile.
$8,370
£7,607
£8,482
REVENUES AND EXPENSES.
451
614,876
28,717,209
1.793 cts.
£0.74
3,400,284
669,934,227
0.514 cts.
£2.42
470.6
£9,278
1909-10.
£3,090,773
446,672
235,191
1908-09.
£2,734,152
456,963
237,529
1907-08.
£3.072.674
519,719
230,441
Total operating revenues
.£3,772,636
Expenses—
Maintenance of way and structures._
£407,870
Maintenance of equipment
533,060
£3.428,644
£3,822,834
£374,456
£486,238
1,245,382
107,413
1,158,378
95,363
£2,385,772
£1.386,864
£2,077,721
£1,350,923
Operating Revenues—
Freight
Passenger
Mail, express and miscellaneous
-
n-T™
Balance, ^?£UiC,20nS-surpius
of Rails—>—
92,047
Traffic expenses
Transportation expenses
General expenses
Total expenses
Net operating revenues
-
378.036
71,487
448,731
132.792
1,359,859
145,736
£2,573.355
£1,249,479
THE CHRONICLE
(Vol.
INCOME ACCOUNT.
Net operating revenue
gividends
A Alton
lvldends on Chicago
Det. A Tol.
S. L.stock..
stock.
190S-09.
$1,386,864
31,350,923
+ 335,941
547,600
57,120
836,000
42,840
—288,400
28,501
4,774
+23,727
on
Other income
Total
net income
32,020,085
Deduct—
Taxes
Hire of equipment—balance
32,234,537
3164,147
3148,711
89,653
15,021
114,777
954,390
equipment trust certificates..
31,125
Advances Tol. Term. By. Interest.16,200
•deferred dividends (4%)
398,104
954,390
-
Rentals—'balance
Interest
Int.
on
Inc. (+) or
Dec. (—).
1809-10*.
_-
bonds
on
+ 14,280
—3214,452
21,139
35,625
21,600
398,104
+ 315,436
—25,124
—6,118
'—4",500
—5,400
Total deductions.*
31,668,640 31,694,346
—325,706
Balance, surplus
6351,444
3540.191 —3188,746
•
Deducted from profit and loss account, but here shown for
simplicity.
BALANCE SHEET JUNE 30.
umt
REVENUES, EXPENSES. AC.
Revenue—
1909-10.
$552,150
Passenger
1908-09.
1907-08.
$511,646
2,359,557
147,932
144,444
$479,987
2,383,816
138,672
Total operating revenue
$3,361,282
$3,015,647
$3,002,475
Traffic expenses.Transportation expenses.General
Taxes
$441,311
527,146
100,107
1,417,420
107,359
$378,685
322,446
102,377
1,196,932
98.524
$330,590
596,028
107,370
1,332,294
105,390
89,103
$2,691,867
$669,415
$2,560,776
$454,871
$2,193,354
$809,121
1909-10.
1908-09.
$669,415
Inc. (+) or
Dec. (—).
$454,871
69,656
+$214,544
—20,159
$718,912
$524,528
+ $194,384
$627,504
7,743
*110,329
$571,601
Cr.3,832
184,279
+$55,902
$745,576
$26,664
$752,049
$227,521
Freight
Mail, express and miscellaneous
2,061,200
Expenses—
Maintenance of way and structures-Maintenance of equipment
—
Total expenses and taxes.
Net operating revenue
-
106,071
86,843
....
INCOME ACCOUNT.
.
901
1910.
Assets—
$
Cost of road. Ac.a38,219,686
Securities
bl2,938,903
Cash.
Agts. A conductors
Traffic, Ac., bais.
Oos. & Individuals.
U. 8. P. O. Dept..
Loans A bills reo..
Materials A supp.
C.AA.pf.divs.accr.
Adv. Tol.Term.Ry
Anadj. fgt. claims.
Other def.deb.items
1909.
$
38,119,776
12,832,302
525,679
72,244
42,440
520,170
26,861
263,442
5,285
485,828
320,577
129,600
48,600
111,205
31,343
59,103
174,183
5,279
50,000
167,485
418,000
33,102
108,969
33,560
1910.
1909.
Liabilities—
»
3
3
Preferred stock... 10,000,000 10,000,000
Common stock... 10,000,000 10,000.000
Funded debt
28,677,000 28,777.000
Bills payable
150,000
150,000
Vouchers A wages.
465,022
216,974
Agents' drafts
69,438
104,726
Int.,dlvs.,Ac., due
and accrued
395,917
397,443
Misc. accounts
56,251
43,160
Taxes accrued
110,872
100,363
Operating reserves
172,137
188,367
Oth.def.cred.items.
2,087
1,506
Profit and loss... 3,075,019
2,640,339
Total.^
63,173,744 52,569.878
Total.
...63,173,744 52,569,878
• After deducting reserve for
accrued depredation, 3576,633.
b Securities In
1910 include: (1) Securities of
proprietary, affiliated and controlled cos., pledged
(par value, 320,900.000; book value,
$11,527,000), viz.: Chicago A Alton pref. stock
$6,480,000, and common stock, $14,420,000; (2) Securities of proprietary, affiliated
and controlled cos.,
unpledged (par value, $1,424,000, and book value, $909,501),
via.; Det.- A Tol. Shore Line RR.
stock, $714,000, 1st M. bonds, $230,000, and
Toledo Terminal Ry. stock, $480,000; and
(3) company’s pref. stock, $47,400,
common stock, $5,000, and
prior lien bonds, $450,000, and miscellaneous stocks,
$700.—V. 91, p. 1386, 1328.
Iowa Central Railway Co.
(Report for Fiscal Year ending June 30 1910.)
President
gross
operating
show an Increase of
$345,635, or 11.46%, and, notwithstanding the loss of coal
tonnage due to
the 8trike in the Illinois and Iowa
coal fields, are the largest inourhistory.
PTeight traffic increased $301,644, or 12.78%. The
number of tons of
revenue freight carried increased
10.52% and the number carried one mile
increased 69,805,819 tons, or 18.21%, the
average length of haul being
166.67 miles, an Increase of 11.74
miles, or 7.58%.
The increased tonnage
was handled with an
increase of only 5.37% in freight-train
mileage.
Passenger traffic shows an increase Of $40,504, or 7.92%. The number
of
passengers carried increased 1.24%, passengers one mile increased
7.03%.
Maintenance.—The expenditures for maintenance of way and structures
Were Increased $110,722, or
33.49%. There were placed in track 24.52
miles of new 80-lb. rail and
129,075 cross-ties. The wages of section men
were increased from 13
H to 15c. per hour.
There was expended $790
per mile of road for maintenance of
way and structures.
The expenditures for maintenance
of equipment show a decrease of
$68,882, or 11.55%. During the previous
year such expenditures were
abnormally large. The average cost for repairs and renewals
per locomo¬
tive, based on locomotives owned as of
July
1 1909, was $3,282.
Coal Strike.—On April 1 the miners
in various States made a demand for
an increase in the
existing rates of
for mining coal,and, their demands
being refused by the operators, the pay
mines were (dosed.
The operators and
miners in the State of Iowa came to
an agreement and work was resumed
May 14 1910. In Illinois an agreement was not reached
until Sept. 9 1910.
In anticipation of the
strike, a supply of coal was stored, causing an in¬
crease in the cost of coal consumed
of
approximately $15,000.
Taxes.—The total amount paid in taxes account of
the calendar year
1909 was $102,923, an increase
over 1908 of $8,100, or
8.54%. Since
June 30 1905 there has been an
increase of $11,771, or 12.91%, in the
yearly taxes paid.
Funded Debt.—There were issued
under the ‘‘first’and refunding
mtge.”
$601,000 4% bonds to reimburse the
company for cash expended for addi¬
tions and betterments not
for in any previous issue of bonds under
provided
the mortgage.
Equipment trust notes
to $46,946 were paid.
Improvements.—The expenditures foramounting
additions and betterments during
the year,
amounting to $832,105, were charged to capital
expenditures,
chiefly $327,477 for new rolling stock and $381,216 for
new bridge over
Mississippi River at Keithsburg, Ill. This
bridge, commenced late in
1908, has been put in service.
General Remarks.—The results of
operation for the year have not been
altogether satisfactory, due to the prevalence of
conditions over which the
company had no control.
The trouble in the coal fields
resulted in a very
heavy loss in freight revenue. Throughout the winter
there was an unprece
dented fall of snow and
very cold weather, making it impossible to
all the business
handle
offered, and increasing the cost of operation.
During the past ten years operating costs have been
steadily increasing
rates of transportation have
been
The average rate
per passenger per mile in 1901 was gradually decreasing.
2.365c.;
in
1910,
1.887c.
Average rate
per ton per mile in 1901 was
0.709c.;
in
1910, 0.588c.
Taxes increased
from $75,884 in 1901 to $98,524 in
1910.
Notwithstanding substantial
Increases In wages to shopmen,
trainmen, switchmen, freight-house
section men and others
during the year just closed, the labor problem ismen,
still
confronting your management in the form of applications for
further in¬
creases.
It is a question how to meet the
increased expense due to increase
wages and other causes.
In Illinois, Iowa, and
Minnesota, by
the passenger rate has been
reduced since May 1 1907 to 2c.legislation,
On the other hand, so
per mile.
reasonable an advance as 10c.
per ton in the rate
upon coal within the State of Illinois—an
advance made
absolutely neces¬
sary by the increased cost of
transportation—has been postponed by the
Illinois Railroad and Warehouse
Commission until after the larger
of the advance in
questions
inter-State rates, pending before the
Inter-State Com¬
merce Commission, shall have been
passed upon.
Unless the rights of the railroads are
safeguarded, funds cannot be secured
to make the
necessary improvements and extensions without
which the
transportation interests of the country will
inevitably suffer.
ROLLING STOCK OWNED ON JUNE 30.
-lA>comotivesPass.
—Freight Equip.No.
Trac. Power.
No.
Equip.
Cap. (tons).
1910
102
2,398,209 lbs.
51
3,561
115,090
90
1,958,653 lbs.
52
3.418
109,550
CHARACTERISTICS OF ROAD JUNE 30.
Curves
Tangent.
Total Ascents.
Total Descents.
115miies. 424mlles 7,156 ft. in 249 miles.
5,995 ft. In 203 miles
Bridges, Ac. (ft.) —Ballast—(Miles)—
Rails—(Miles)Steel. Trestles. Grav.Cind.
Slag. Soil. 80-15. 70-15. 60-15. 56-15.
“ 50-15
1910
8,490
37,722
330
62
5
133
81
199
142
108
8
1909
49.134
299
68
6
157
57
203
162
108
8
OPERATIONS AND FISCAL RESULTS.
1909-10.
1908-09.
1907-0.8.
1906-07.
Miles operated June 30.
558
558
558
558
carried (No.)
1,018,778
1,001,314
930,417
757,438
Pass, carried one mile..
27,330,948
25,406,981
Rate per pass, per mile. 29,253,096
22,640,824
1.887 cts,
1.872
cts.
1.889
cts.
2.243
Cts.
Rev. freight (tons) car’d
2,603,446
2,355,717
2,291,152
2,381,964
Freight (tons) car’d 1 m.453,116,263
383,310,444 402,447,559
I
Rate per ton per
399.374,439
mile.0.588,cts.
0.616 cts.
0.592 Cts.
0.628 cts.
Tons per train mile
310
275
291
300
Earns, per pass, train m.
$0.79
$0.74
$0.70
Earns, per freight tr.m.
$0.72
$1.73
$1.61
$1.64
Gross earnings per mile.
$1.81
$5,963
$5,338
Operations—
Passengers
$5,329
Interest on bonds.
Sundry interest (net)
Rentals, trackage and terminals
Total deductions.-.
Balance, deficit---
$5,589
+
11.574
—73,950
—$6,473
—$200,857
Includes hire of equipment.
$57,560, and rentals, Ac., $52,769.
BALANCE SHEET JUNE 30.
1910.
1909.
1910.
1909.
Assets—
Liabilities—
$
Road A equlp’t..a29 ,332,281
28,573,370 Common stock... 8.525,623 8.524,683
Secure, of affil'd,
Preferred stock
5,674,810 5,674,771
Ac.,cos. pledged
555,000
555,000 Bonds
14,366.095 13,765,095
Coal mines, lands,
Equip,
trust
notes.
304,192
351,138
AC.
619,711
—
Cash
Securities owned..
Agts. A conductors
Cos. A Individuals.
U.S.P. O. Dept..
Material
Deposit top
equipment
revenues
49,497
Total operating income
Deduct—
Loans A bins rec..
T. P. Shonts writes in substance:
General Results.—The
.
Net operating revenue
Other income
250,783
Other, def. chgee
Total
After
V. 91, p.
a
173,178
996,000
40,135
340,404
5,393
38,171
68,769
619,711
113,688
395,000
73.292
290,058
1095, 790.
110,295
20,139
.
25,658
reserve for accrued
Grand Trunk
600,000
390,107
25.925
30,657
14,419
73,090
Traffic, Ac., bal..
Misc. accounts
Matured int., Ac..
5,200 Taxes accrued
Accrued interest.
274,221 Oper. reserves.
Other def. credits.
407,000 Profit and loss
32,419,825 31,332,198
deducting
Bills payable
Vouchers A wages.
Total
65,177
2,219,296
44y,677
13,301
31,414
14,909
74,889
106,363
16,864
46,744
2.262.450
32,419,825 31,332,198
depreciation of equipment, $103,204.
Railway of Canada.
(Report of Chairman Made at Half-Yearly Meeting Oct. 24.)
At the half-yearly
meeting held in London Oct. 24, Alfred
W. Smithers, Chairman of the
company, said in part:
General Results.—In these days of high
prices and high
it Is some¬
thing to maintain the position already won. We have wages,
been able also to
Improve on the position In the corresponding half-year of 1909
by earning
the half-year’s dividend on the 2d preference
stock, which we have not
been
able to do In the first half of the year since 1907.
On the Grand Trenk proper, the gross
receipts Increased during the halfyear by £455,000.
To attain these results we carried
173,000 more pas¬
sengers and over 1,300,000 tons more freight.
The working expenses in¬
creased by the sum of £376,000.
The increase of £189,000 in the
charge for
maintenance of equipment Includes £122,000 In
reduction of the engine
and car-renewal suspense account,
leaving about £75,000 on that account
still to be dealt with in the current
half-year.
Strike.—I have lust returned from an extensive
journey over the Grand
Trunk and Grand Trunk Pacific railways.
On the voyage out I received
word by marconlgram that the strike had ended.
In the end, terms were
agreed which, with other additions to various branches of the
service, will
Immediately cost us about £120,000 per annum increase in pay-rolls.
Ottawa Terminals.—At Ottawa the new station and
terminals are nearly
finished, and we shall have as tenants and part users the Canadian
Pacific,
the Canadian Northern and the New York Central
railways.
by subway with the station is the new hotel, built of gray stoneConnecting
In the old
French Chateau style, and one of the finest hotels In
Canada.
It will be
named the Chateau Laurler and will
supply an urgent need.
I hope It will
be
open in time for next summer’s season.
New Shops.—The two other greatest improvements on
the system are
the excellent new workshops, fitted With all the
latest
at Strat¬
ford, on the Grand Trunk, and at Battle Creek, on the machinery,
Gr. Trunk Western.
Detroit River Tunnel.—At Detroit, where our trains are now
ferried over
the river from Detroit to Windsor, a tunnel has been
constructed, called the
“Detroit River Tunnel,” by the Michigan Central
Ry. The same company
is building a new Union Station at Detroit,
which, with the tunnel, will cost.
It Is said. Including electrification, about
$20,000,000.
We shall, no doubt,
use this tunnel for some of our traffic on
terms, and it will be a great ad¬
vantage in the handling of our traffic, especially in the
winter, when the Ice
in the Detroit River often causes
delay to our ferries carrying trains.
Grand Trunk Pacific Ry.—I now come to the Grand
Trunk Pacific.
At
Fort William we have a splendidly-situated
terminal, ready for traffic,
and capable of being enlarged to any extent.
We have a first-class concrete
elevator capable now of holding 3 H million bushels of
wheat, and arranged
to easily enlarge to take ten million bushels.
Our branch line from Fort
Wiliam to Lake Superior Junction, where we connect with
the Govern¬
ment line known as the National
Transcontinental Ry., is In fine order
and ready for any amount of traffic.
From Lake Superior Junction to
Winnipeg the distance is about 246 miles.
It is on this section that the
Government contractor had great trouble from the
numerous places where
swamps oause the line to sink.
I think the great difficulties are
over.
There Is nothing that will stop the traffic for long.
We have agreed to work
this portion of the line under arrangements with the Government, and
we
shall bring down a considerable portion of the
grain of this year’s harvest
to our elevator at Fort William.
At Winnipeg the new Union Station, which we shall share
jointly with
the Canadian Northern Ry., Is far advanced.
I think the station will be
ready for traffic at all events in the early spring. About 5 miles from
Winnipeg we Inspected the new shops being built by the Government for
the Transcontinental Ry. at Springfield.
They are built on the model of
our new shops at Battle Creek, and will be
up to date In every respect.
From Winnipeg we went over our new main line to
Melville, thence to
Watnwrlght and on to Edmonton.
The country through which the line
passes is very nearly all first-class wheat land.
There are several towns,
such as Rivers, Melville, Walnwrlght and Watrous,
containing already from
1,000 to 2,000 Inhabitants, and many more on a smaller scale.
Two years
ago where these towns now stand was almost uninhabited
prairie.
We
have replaced the construction trains, which have hitherto
served the pub¬
lic weekly between Winnipeg and Edmonton, by a
dally service both ways
of both passenger and freight trains, and the
public save from five to seven
hours on the journey from Winnipeg to Edmonton as
compared with any
other route. Of course, until the line Is
properly connected with the East,
it is impossible to work It oh a commercial
basis, and the service Is still
worked on construction accouht.
From Edmonton we Inspected the line to Wolf
Creek, about 123 miles
from Edmonton.
From Wolf Creek, the
beginning of the mountain section,
we proceeded to Edson. the end of the
track at the present time.
Between
Wolf Creek and Edson we crossed three
very high bridges nearly completed
over Wolf Creek and the McLeod and
Pembina rivers.
From
the
beginning of the Rockies could be dimly seen, yet, had the lineEdson,
been laid,
we should have arrived at the
summit, in the Yellowhead Pass, about 3,700
feet above the sea level, without
noticing any difference in the grade than
that on which we had crossed the
prairie from Winnipeg, ft Is hoped the
track will be laid a further 100 miles
this season to the Athabasca River.
THE CHRONICLE
8o\. 26 1916.
From Edmonton we traveled to Vancouver by the Canadian Pacific Ry.
At Vancouver we embarked on board one of our new steamers, the Prince
Rupert, and went on to Stewart, at the head of the Portland Canal, a dis¬
tance of ISO miles from Prince Hubert.
Here a mining town Is being es¬
tablished.
We returned to Prince Rupert and started the next morning
to the end of the laid trade of the new fine, 40 miles east of Prince Rupert.
We then went by boat to Kltselas Canyon, 105 miles from Prince Rupert,
where we disembarked and Inspected the tunnels and work on the grade at
this point.
The scenery up the Skeena Is magnificent, high mountains
capped with snow rising on every side. There can be no doubt that in the
near future a large tourist traffic will be developed to enjoy this scenery of
mountain and elver, which is not surpassed on the whole continent.
In Prince Rupert when I was last there. In 1907, there were 200 people
and about a dozen houses; there are now 3,000 Inhabitants and branches of
most of tbe large banks In Canada.
At Victoria, the capital of British
Columbia, at the head of the harbor, we have secured first-class dock ac¬
The population of Victoria has nearly doubled In ten years—
commodation.
there are now 40,000 Inhabitants.
At Beattie, we have also secured firstclass dock accommodation In the heart of the city.
Twenty years ago this
city had some 20,000 Inhabitants; to-day close upon 250,000. This city
forms a fine base for our steamers, and popular as they have been for the
short time we have used them thls past summer, I have no doubt next year,
when we begin the season fairly, their popularity will still further Increase.
We returned to Edmonton and Inspected the Calgary branch as far as
tbe track was laid from Tofield, on the main fine, 50 miles from Edmonton.
This branch Is about 180 miles In length and the track Is laid for 60 miles.
We next went to Melville, and Inspected the Regina branch. The length
of this branch Is 95 miles, and track Is laid for 40 miles.
From Melville
we also Inspected tbe branch which Is completed to Yorkton, a distance of
25 miles from the main line, and will be extended to Canora, about another
25 miles.
All these branches pass through first-class wheat land.
Financial Status.—In 1895 the net earnings of the Grand Trunk—a rail¬
way
passing through a sparsely-populated country compared with the
American roads—were abort of the amount required to meet the fixed
charges; to-day we are paying the dividends down to and Including that on
the second preference stock.
To this result has to be added the Interest
on the large amount of capital which has been raised since 1895 at the mod¬
erate rate of 4%, and without which expenditure the Junior securities would
not have been In so good a position as they occupy to-day.
Grand Trunk Pacific Development Co.—That company, It was hoped at
one time, would have been financed by an Issue of some sort of security,
but the Development Co.'s operations took place just after the panic of
1907. which was not a propitious time to do anything with the land, and
the money received from the land, as it has been sold, has been used to
the Grand
are
gmnee
several
undertakings
whichPacific
Trunk Pacific
Co.
terested,
through
the GrandIn
Trunk
Development
Co.
the Pa¬
on
cific Coast, suds as docks at Victoria, at Seattle and Vancouver, and the
new boats which have recently been built.
I hope within a very short
time to give you an account of what the Grand Trunk Pacific Development
Co. has done. All I can tell you to-day Is this, that all the profit that toe
Development Company has made or will make will go into toe pockets of
toe Grand Trunk Pacific Company, and as you are the shareholders In toe
Grand Trunk Pacific Co., suoh profit will come to the Grand Trunk Co.
{Canadian Government memoranda dated Dec. 4 1907, Jan. 2 1908 and
Aug. 13 1908, recently published, give the substance of the agreement
with toe Government by which (1) the Development company agrees to
issue to the Grand Trunk Pacific Ry. Co., as fully paid up shares, all its
capital stock, except such shares as are necessary to qualify directors;
(2) the Grand Trunk Pacific Ry. Co. covenants that It will retain toe said
capital stock so long as any of the railway bonds guaranteed by the Gov¬
ernment and referred to in the agreements remain outstanding; (3) the
railway company covenants with the Development company to guarantee
the principal and interest on the bonds of that company to an amount suf¬
ficient to finance the undertaking necessary to promote the objects of the
company; (4) the Government agrees to sell to the Development company
135 tracts of land, aggregating 19,931 acres, available for town-sites and
located along the line of the road, at the nominal price of $3 an acre, a rail¬
way station to be established on each town-site, and also on the same con¬
dition to give the company the right to procure the abandonment by per¬
sons bolding the homestead entry on certain lands which are under home¬
stead entry and to acquire the said lands upon paying to the Government
the sum of 81 per acre and In addition settling with the person having the
homestead entry.
See also V. 86, p. 1045; V. 90, p. 306—Ed.]—V. 91,
p. 1095, 1025.
United Fruit
Company.
{Report for Fiscal Year ending Sept. 30 1910.)
The full text of the remarks of President Andrew W.
Preston, affording many particulars regarding the property
business, and also comparative income account and
balance sheets for two years, &c., will be found on subse¬
quent pages. Further facts compiled from the report and
and its
the usual
comparative tables for several
years
follow:
LOCATION AND BOOK VALUE OF PROPERTY OWNED.
To tal Acreage
1910.
1909.
1908.
Costa Rica 175,844
Cuba
90,270
166,918 183,269
90,258
67,956
Guatemala 80,549
50,000
50,000
Jamaica
34,182
29,636
29,822
Santa Dom.
18,203
..
—Plants and
1910.
$8,459,691
6,770,437
1,075,633
2,496,402
Equipment, Book Cost—
1909.
$8,448,322
6,947,702
847,776
2,324,299
412,275
Repub. of
Colombia 30,032
Repub. of
Panama 43,588
1908.
$8,501,014
6,328,288
534,721
2,352,332
11,265
11,265
475,235
415,519
374,268
53,048
38,873
5,431,102
4,706,010
3,856,372
Total* .4 54,465 401,125 399,388 $24,708,500 $23,689,629 $22,359,270
*
Also leases 4,989 acres In Costa Rica and 21,393 acres In Jamaica.
_
BOOK COST OF COMPANY'S LANDS, Ac.
1910.
1909.
1908.
Lands......
$9,420,058
Houses and buildings...
1,380,304
Cultivations
4,751,656
Live stock
799,354
Tools and machinery.._
193,503
Railways
5,326,887
Telephones
Wharves, lighters, &c__
Merchandise (stores)...
Material on hand
Sugar mill...
96,075
383,366
632,163
437,601
1,287,533
$0,062,372
1,300,899
4,718,156
765,303
192,303
4,865,509
92,574
341,211
607,561
456,207
1,287,533
$8,970,886
1,202,773
4,268,608
771,442
199,688
4,073,197
86,729
342,341
591,702
564.369
1,287,533
1907.
$9,029,026
1,100,474
3,856,837
691,499
193,688
2,936, 86
85,659
337,341
560,370
549,719
1,287,533
Total
.$24,708,500 $23,689,629 $22,359,270 $20,628,932
Total head of cattle Sept. 30 1 910, 18,104, against 17,352 in 1909 and
17,641 In 1908; horses and mules, 3,553, against 3,214 In 1909 and 3,360
In 1908; miscellaneous, 271 In 1910 and 1909, against 245 In 1908.
Rail¬
ways owned, 542 miles, against 493 miles In 1909.
INCOME ACCOUNT.
1906-07.
1907-08.
1909-10.
1908-09.
Net earns, from tropical
fruits and other oper. $5,912,294
$6,061,910
$3,871,833 $3,723,511
Miscellaneous Income
227,099
317,580
640,282
516,817
Total Income
Deduct—
on bonds
$6,552,576
$4,388,650
$4,041,081
$6,289,909
$260,583
Elvldends.
ate of dividend.
1,877,472
(*%)
$220,771
1,707,042
$94,746
1,584,484
(8%)
(8%)
$99,982
1,419,350
(7 H%)
$1,927,813
$1,679,230
$2,361,861
9,752.050
Interest
Total deductions
$2,138,055
Balance, surplus for year $4,414,521
Surplus previous years.
12,006,805
.
Total surplus
Extra dlv. (10%)
$2,460,837
10,036,450
$1,519,332
$4,770,577
5,523.933
$16,421,326 $12,497,287 $12,113,911 $10,294,510
2,134,000
1,940,000
Balance, surplus
$14,287,32$ $12,497,287 $10,175,911 $10,294,510
Dlreot charges to profit
Al>4 loss500,000
490,482
137,461
542.460
—
.-
Surp. as per bal. sheet..$13,787,326 $12,006,805 $10,036,450
$9,752,050
Assets—
1443
BALANCE SHEET SEPTEMBER 30.
1910.
1909.
$
$
3,667,323
1,<696,781
985,105
2,724,070
1,781,6461
542,063 )
256,387
167,040]
1,574,907
2,029,235
52,000
...
8,471,048
1,449,528
72,666
5,267,040
1,448,271
1,904,646
2,482,725
1,731
4,358
...$45,033,758 $40,756,494 $35,215,173
.$23,474,000 $21,340,000 $21,328,300
Capital stock......
Conv. bds. (calledfor pay’t Mch.l ’08)
—,—
Serial debentures
......
1,282,000
4H% sinking fund debentures
4,250,000
Accounts payable
914,700
Sight drafts aud acceptances.......
781,299
Bills payable..,
........
— ..
Dividends
469,480
Accrued Interest and miscellaneous.
74,948
Income account, surplus.....
13,787,326
_
52,000
1,600.000
—...
1,440,000
4,250,000
760,864
672,531
460,106
454,505
600,000
426,564
39,228
10,036,450
—...
426,806
77,520
12,006,805
.$45,033,753 $40,756,494 $35,215,178
Total
•
$
.
*8,288,777
1,449,528
1,478,066
Nlpe Bay 10-yr 6% debentures
Miscellaneous investments...
2,497,633
Other aceounts-.-.i............—
5,052
Total..
Liabilities—
1908.
.$24,708,500 $23,689,629 $22,859,270
Plantations and equipment
Cash
Accounts collectible.
Notes receivable.
Advance payments
Old Colony Trust Co—
Advances
Nipe Bay Co. common stock
Advances In 1910 Include: To Northern Ry.,
$3,819,586; Tropical Fruit
Steamship Co., Ltd., $4,469,191.
Note.—The Insurance fund assets, amounting Sept.
not Included In the above balance sheet.—V. 91, p.
are
80 191© to $687,211,
1391, 1265,
American Steel Foundries.
(.Report for Fiscal Year ending July 31 1910.)
Kelley, Chicago, Oct. 5, Wrote in substance:
Pres. Wm. V.
Audit.—The combined balance sheet and statement of profit and loss
has been prepared by independent public accountants after a full audit,
which covers not only the last year, but the preceding year as well, and
together with a similar audit In 1908 covers the entire five years of the
present management.
General Results.—The gross sales for the year were $17,173,741 and the
gross earnings from operations of plants and other Income after deducting
manufacturing, selling, administration, head and district office expenses
and management commissions, were $1,896,072.
The net income Of
$1,030,221 is the remainder after deducting all interest and other charges.
$1,199,983
maintenance
Including
for repairs and
and $355,893 for depre¬
ciation of fixed properties, and also after appropriating $162,570 tor the
sinking fund for the first mortgage bonds.
Bonds.—‘•From the sinking fund $138,500 1st M. bonds were bought and
retired during the year and the balance of the accretions to the fund, to¬
gether with tne annual installment paid to the trustee Oct. 1 will purchase
at least $178,500 more, making the total retired or provided for to date
$1,155,000 out of the original Issue of $3,500,000.
Additions, Ac.—Charges aggregating $598,855 were made to the capital
account during the year for real estate, new construction, additions,
machinery and equipment. In addition $300,582 was spent for replace¬
ments and for minor additions and Improvements and charged to the
depreciation reserve.
Additional land was acquired adjoining the Alliance plant; It Is not In¬
tended at present to Improve the property.
At Indiana Harbor a new
plant for the production of Ught-weight castings has been put In operation,
lowering costs and increasing the output.
A tract of land adjoining the
same plant was purchased.
Dividends.—On May 14 a dividend of 1K% was paid/and In June a
second dividend of the same amount was declared, payable Aug. 15.
Outlook.—Since the close of the fiscal year shipments and earnings have
been satisfactory, but orders on hand have shown a steady decrease from
month to month for several months, and there is as yet no definite better¬
ment In sight, although there is a decided change In sentiment and the
opinion seems to be that better conditions will prevail In a short time.
Review Aug. 1 1905 to July 31 1910, Covering the Five Years of Present
Management.
Contract.—Effective Aug. 1 1905, a five-year employment contract was
made with the President and the First, Second and Third Vice-Presidents
under which they were to have the management of the buying, selling and
manufacturing departments and share in the profits In excess of a fixed
specified sum, such sum being equal to about 3 H% on the present capital
stock.
July 31 1910 marks the termination of the contract.
Finances.—At the beginning of the period the company found itself with¬
out working capital and with a large indebtedness, Impaired credit and a
deficit from previous operations.
A bond issue of $3,500,000 was sold and the proceeds—about $2,700,000
—used principally for the payment of debts,and the remainder for working
capital. Subsequently the net earnings (surplus) to Aug. 1 1907 were
made a part of the permanent assets of the company, with the result that
on July311910wehad, after providing for all bond Interest and sinking fund
requirements, all debts except outstanding bonds and debentures, paying
for all new property and improvements, and the payment of 2 quarter-year
dividends to stockholders, a net working capital (Including the surplus
shown in the appended balance sheet) of approximately $5,000,000; mean¬
while, through the retirement of some of its own capital stock which had
come Into its possession, the company had been able to cancel the discount
on the sale of its bonds at a small cost and without any direct charge
against profits.
It should be noted that while the present working capital may seem large.
It Includes the depreciation reserve and is no more than is necessary for
normal business requirements, and in view of the growth of the company,
a surplus must be accumulated and maintained for such needs.
tIn 1908 all of the old stock, both common and preferred, aggregating
$33,050,000, was retired and canceled, and new stock, ail of one
amount of $17,184,000, was, with $3,438,800 In 4% debentures
per share to old
stockholders. Issued In lieu thereof.
preferred
class, to the
and $3 cash
The sound¬
ness of the plan is best evidenced by the present condition of the company
and the payment of dividends on the new stock.
The bond Issue has, by
the sinking fund, been reduced by the amount of $976,500, and as the funds
in the sinking fund (Including the payment of Oct. 1 1910) arC sufficient to
purchase at least $178,500 more bonds, the 1st M. bond obligation at this
time does not exceed $2,345,000.
Productive Capacity.—Prior to Aug. 1 1905 the company’s largest twelve
months’ shipments of steel castings did not exceed 120,000 tons; the largest
single month’s shipments being just over 12,000 tons. The capacity of the
?lants
attons
thatper
timeyear.
may, For
therefore,
fairlyjust
estimated
to 80
have
exceeded
30,000
the 12 be
months
ended not
(Sept.
1910)
there
shipped a little more than 205.000 tons; the largest single month's
shipments being only a trifle less than 20,000 tons; hence the present
capacity of the plants may be fairly taken at not less than 220,000 tons per
year—an Increase of about 70%, or more than two-thirds larger than for¬
merly. The records show a steady Increase In the percentage of perfect or
merchantable goods produced; hence It Is evident the increase in product
has not been at the expense of quality.
The Hammond Works product consists of bolsters, brake beams, springs,
&c., for railway cars, but it does not produce castings; hence its output Is
not Included in the foregoing tonnages; Its capacity, however, has also
been largely increased and the additions to the plant are Included In the
capital expenditures shown, while the results of Its other operations are In¬
cluded in other figures given herein.
were
Capital Charges and Depreciation Reserve for the Five Years.
1905-06.
1906-07.
1907-08.
Capital expen.$456,232 $462,173 $144,031
Deprec. res’ves 221,541 233,681 *507,911
•
1908-09.
1909-10.
Total.
$48,844 $598,855 $1,710,136
113,481 355,693
1,432,307
Includes $300,000 transferred from profit and loss account to cover
depreciation prior to 1905 for which no reserve was provided at the time.
The capital charges cover a practically new plant at Pittsburgh, together
with the land on which it stands, to take the place of inadequate worn-out
buildings on leased lands; also a new plant and equipment at Indiana
Harbor for the economical production of small castings, additional lands at
Alliance, Indiana Harbor and Hammond Works, new buildings, additions
1444
THE CHRONICLE
*o buildings, additional furnaces,
new
machinery, boilers, locomotives,
tracks, cranes, tools and general equipment, Including numberless items
that need not be here enumerated.
The advisability of these expenditures
Is demonstrated by the great increase In
capacity and the lowering in costs,
both of which were necessary for the company to maintain Its position.
Of the depreciation reserve $1,028,380 Is still unused, the balance having
been applied to replacements, minor additions, improvements,A&c.^MkiMi
RSalesZandiNet Earnings for the Five Years.f
|1905-06.
1906-07.
1909-10.
1907-08.
1908-09.
•
Total.
Qrosssales
15,297,496 19,463,521 8,964,189 7.138,008 17,173,741 68,036,955
Net earnings... 1,009,522
2,379,097
58,445
19,846 1,030,221 4,497,131
Had the present capacity of the plants been available during the first two
years, both sales and earnings would have been far greater.
The 1909-10
earnings are considerably In excess of the 5-year average, notwithstanding
they
largely reduced by the low selling prioes which continued for
In addition to the net earnings here shown,
panic.
the bond sinking fund sums aggregating $727,899 for
reducing the mortgage debt. The net earnings, together with the profits
paid into the sinking fund, makes the total for 5 years $5,225,030, an
average of $1,045,006 per year.
The first dividend (1X %) on the reduced
capital stock was paid May 14 1910 for the quarter year ended April 30
1910, and a second dividend of the same amount was declared for the
quarter ended July 31 1910.
were
some time after the
there was paid Into
Gross sales
$17,173,741
Earn.from oper.of plants
and of sub. cos. (after
1908-09.
1907-08.'"'"'"" 1906-07.
$7,138,009
$8,964,169 $19,463,521
RESULTS FOR FISCAL
•Years
1910.
Total Income
on
1,839,984
56,088
621,056
2,893.642
72,866
147,758
134,099
—
$3,100,607
$232,300
debentures137,472
$232,300
137,472
$232,300
$233,192
107,054
33,332
128,003
1,464
355,693
113,481
207,911
46,733
233,682
110,000
$612,720
$710,369
$58,445
$721,510
$2,379,097
Sink, fund 10-30-yr. bds.
Int. on borrowed money
Deprec. of bldgs., plant,
and equipment
Purch. of pat. rights, &c.
Dividends (2H%)
BALANCE
569,440
63,126
$768,814
Total deductions
SHEET
$1,295,451
$600,620
JULY
equipment, &c_ 19,961,095
Expenditures, ad¬
ditions & lmp’ts
Other real estate..
Securities.
598,855
298,630
al79,264
64,628
2,206,121
Sinking fund
Inventories
Accts. & bills rec’le
Cess reserves).. 3,642,878
645,464
premiums,
&c., prepaid.!.
36,285
Cash
Insur.
Total
68,736
154,689
429,600
1910.
$
Assets—
Real estate, plant,
31
$19,846
105,000
39,636
(.INCLUDING SUBSIDIARY COMPANIES).
1909.
1910.
1909.
Liabilities—
$
$
Capital stock
17,184,000 17,184,000
19,912,251 Mortgage bonds.. 2,969,500 3,108,000
4% debentures... 3,436,800 3,436.800
48,844 Notes payable.
100,000
298,630 Accounts payable. 1,154,408
440,785
a389,703 Pay-rolls
236,443
10j,091
40,558 Accrued Interest on
$
3,782,725
1,206,619
218,389
46,756
27,633,221 25,944,475
bonds and de¬
bentures.
144,311
Dividend Aug. 15.
214,800
Reserves
bl, 614,047
Profit and loss
678,912
Total
144,311
1,347,196
78,292
27,633,221 25,944,475
Includes notes secured by first mtge., $40,000, and misc.
securities, $139,264.
b Reserves Include in 1909-10 bond
sinking fund, $493,942, and depreciation and
renewal, $1,120,105.—V. 91, p. 947.
a
Iron Steamboat Go. of New
Jersey.
(.Report for Fiscal Year ending Oct. 31 1910.)
Earnings—
1909-10.
Ticket sales, Coney Isl__l
Fishing route
J
Charters
Hudson-Fulton celebr’n
Privileges, &c
Total
19,888
1908-09.
$214,406
90,540
29,023
25,200
18,181
$359,795
$309,647
30,260
Terminal charges—rents,
wharfage, &c
Taxes
Total
Net earnings
“Other income”
Total income
Deduct—
Interest on bonds
Other Interest
Dividends (5%)_.
1907-08.
$221,384
83,721
25,525
31,000
18,372
$348,340
$368,928
$253,453
$255,030
$206,761
$226,550
71,847
2,804
70,022
3,131
69,736
2,138
89,516
3,247
$328,104
$31,691
60,880
$328,183
$49,167
1,350
$278,635
$69,705
10,210
$319,313
$49,615
$92,571
$50,517
$79,915
$58,273
$25,000
$25,000
$25,000
1,085
$25,000
$26,085
$53,830
$33,881
$24,392
$40,217
$52,354
Balance, surplus
$233,528
86,028
$377,350
15,217
Total deductions
1906-07.
17,709
Expenses—
Oper.,gen’l,repairs, &c_
$25,000
$25,517
8,658
8,881
GENERAL BALANCE SHEET OCT. 31.
Assess—
Bright.P.&N.Co.stk.
Bills receivable
Valley Grove
Repair shops
Cash
1910.
$
1,000,000
60,480
21,913
8,744
5,690
31.733
Total
1,128,560
—V. 91, p. 1331, 1256.
—
$9,500,907
$8,842,088
6,642,694
6,374,578
6,198.269
$3,996,753
$1,182,507
427,250
$3,126,329
$1,032,626
236,000
$2,643,819
$771,271
236,000
$2,842,834
$2,386,996
$1,857,703
(6)1,847,244 (6)1,800,000 (5)1,372,035
$1,636,548
*999,845
.
|
1910.
$
| Liabilities—
$
1,000,0001 Capital stock issued. 365,230
j Capital stock In treas. 34,770
20,72511st mtge. 5% bonds. 100,000
8,74412d mtge. 4% bonds. 500,000
5,6901 Profit and loss.
128,560
41,0471
1,076,206|
Total
Balance, surplus
*
1909.
«
304 350
95 650
100 000
500[000
76 206
<o.cuo
1,128,560 1 076 206
’
’ uo
{Report for Fiscal Year ending Sept. 30 1910.)
President Samuel Insull says in substance:
Bonds and Stock.—The company during the
year has called for redcmntlon on April 1 1911 $5,335,000 of
Chicago Edison Co. 1st M bonds has
issued $3,117,000 of Commonwealth Edison 1st M.
5W bonds in exchange
for an equal amount thereof and has deposited with
the Northern Trust Co
$2,405,000 of bonds to insure the retirement of the remainder
On Nov. 8 1909 the stockholders authorized an
increase of the canital
stock from $30,000,000 to $40,000,000 and new
stock to the amount of
$3,000,000 was offered during the past year at par and subscribed for bv
stockholders, payable in Installments.
Of this subscription, $2,721 897
was
paid In during the year.
Additional 1st M. bonds have also been Issued and sold to
the amount
of $3,050,000.
Year end.
Mch. 31 ’07.
8,441,883
.
$995,590
$586,996
$485,668
$636,703
This Is 8% on former Chicago Edison stock.
CONDENSED BALANCE SHEET SEPT. 30.
1910.
1909.
1910.
1909.
Assets—
$
$
Liabilities—
$
$
Plant,real eat.,&C.63,643,076 57,105,744 Capital stock
32,721,897 30,000,000
Unfinished
plantCom. Ed. Co. 1st
Investment
M. 5s
99,378
*17,417,000 11,250,000
Open accounts.
55,007
180,184 Com.El.Co.lstM5s 8,000,000 8,000,000
Material
700,135
Chic.
793,777
Ed. 1st 5s._ 2,218,000
5,412,000
Coal in storage...
122,012
92,107 Real estate mtge..
130,000
130,000
Accounts and bills
Deprec’n reserve.. 2,753,839 2,221,750
receivable
1,771,023 1,287,464 Accounts payable.
453,199
783,519
Cash
1,196,184 1,026,330 Municipal comp’n.
146,877
122,468
Bond Int. accr’d..
153,219
224,042
Taxes accrued-...
468,000
411,388
Balance, surplus.. 3,025,407 2,029,817
Total
67,487,438 60,584,984
Total
67,487,438 60,584,984
*$2,405,000 additional Commonwealth Edison Co. 1st M. bonds have been
deposited with the Northern Trust Co. to retire the outstanding bonds of the
Chicago
Edison Co. called for redemption on April 1 1911.—V. 91,
p. 40.
Colorado Fuel & Iron
Company.
{Report for Fiscal Year ending June 30 1910.)
President J. F. Welborn, Denver, Oct. 17, wrote in brief:
General Results.—The gross earnings were $23,639,813, an
Increase of
$3,295,182, or 16%; operating expenses were $19,897,198, an Increase of
$2,453,578, or 14%; and net earnings were $3,742,615, an Increase of $841,604,or 29%. The net Income from all sources increased $1,022,763,
or34%.
After providing for all fixed charges, sinking funds, &c., there remains a
surplus of $1,506,819 carried to the credit of profit and loss. The debit
balance In profit and loss account June 30 1909 was
$467,505, the lowest It
had been since June 30 1905, when it was $1,877,403.
The surplus for the
past year takes care of this balance, as well as various small charges to
profit and loss, and leaves a credit balance In the account of $983,554.
The demand for coal was fully up to our capacity
during practically all
of the year, but operations at the coal mines were so retarded
by shortage
of railroad cars during the fall and winter months as to cause a loss In
out¬
put of close to 200,000 tons; yet total coal production for the year was
4,722,832 tons, being 628,481 tons, or 15%. greater than for 1908-09.
Of
this production, 3,100,000 tons, or 65%, were sold as coal and In form of
coke, and remainder used in operation of steel works and other plants.
Additions Needed.—The physical condition of the plants has been well
maintained and In many respects Improved, yet the increasing .demand for
open hearth steel will make necessary some enlargement of the open-hearth
department In the near future. The surplus from the past year’s opera¬
tions will enable us to proceed with these additional Improvements with¬
out borrowing money, and business conditions warrant this outlay.
Outlook.—Business for the current year promises well and earnings In the
first quarter just closed compare favorably with corresponding period last
year.
Operations since Aug. 1, however, have been Interfered with by
shortage of railroad cars to an extent unusual at this season of the year,
the loss In coal production during August and September from that cause
having been In excess of 100,000 tons.
Statement of Production for Years ending June 30.
1909-10.
1908-09.
1907-08.
Coal
4,722,832
4,094,352
4,276,095
Coke
905,599
645,545
789,989
Iron ore.
879,630
580,784
647,269
Limestone
407,517
363,975
391,128
Pig Iron produced
385,602
295,534
(?)
Finished iron and steel.
412,749
359,793
(?)
Tons, 2,000 lbs.—
RESULTS
FOR
YEAR
1909-10.
.
ENDING
1908-09.
$
Gross Earnings—
$
Iron department—
13,604,832
12,058,228
Industrial dept. (fuel).. 110,034,981f
7,889,910
Denver retail dept
l
396;492
Total gross earnings.
30.
1907-08.
$
13,175,747
8,486,086
23,792,299
2,553,366
2,596,044
3,742,615
499,080
127,840
2,901,011
328,341
117,420
2,553,366
234,305
92,822
2,596,044
259,028
137,026
4,369,535
3,346,772
2,880,494
2,992,098
2,097,692
218,765
171,458
1,054,968
177,783
61,414
1,054,305
177,127
62,551
1,056,214
160,691
65,213
154,908
164,945
52,346
92,031
67,049
240,869
26,825
899,659
32,760
149,537
24,264
959,182
39,855
2,586,129
294,365
2,522,006
470,092
2,492,136
1,250,479
Total net earnings—
Add—income from secur
Interest and exchange.
Total net Income
Deduct—
Bond Interest
Taxes
Real estate
20,344,631
Earnings—
Insurance, sociological,
personal Injury, &c._
Equipment renewal
Loss on Col. & Wyo. Ry.
903,627 j
Loss on Crystal R. RR
Rentals (Col. Ind. Co. prop.)
36,000
Prospecting
18,948
&194.891
C32.575
896,461
18,158
2,862,716
1,506,819
2,488,396
858,376
_
Total
deductions
Balance, surplus
_
1906-07.
$
1,997,384'
Iron department
Industrial dept. (fuel)..
--
(?)
(?)
438,047
23,639,813
_
4,844,461
992,661
893,454
417,612
22,099,880
_
Net
JUNE
1906-07.
13,927,108
9,454,223
410,967
—
1
*
1909.
Commonwealth Edison Go.
1908.
_
“Other income” in 1909-10 includes $60,880 for 6,088
shares capital stocl
sold at par; in 1908-09, $1,350 for 135 shares; in
1907-08, $10,210 for 1 02'
shares and in 1906-07 $8,658 for profits on sale of
Oscawanna Island
’
Cost of property
30-
S
$632,566
Surplus
1909.
$4,641,841
$1,266,918
__
532,089
$1,896,072
Deductions—
on bonds
YEARS.
ending Sept.
Gross earnings (lnclud’g
merchandise sales
$13,083,724 $10,639,447
Expenses (lncl. deprec. &
deducting mfg., selling,
admin. & head district
office expense)
Other Income
Profit on sale Common¬
wealth Steel Co. stock
Interest
Interest
LXXXXI
Earnings.—The Increase in the gross earnings during the past year has
amounted to $2,444,278, which Is approximately double the Increase in
any
previous year in the history of the company.
The general increased cost of all classes of labor
and-material and the
unusually large expense to which the company was put, partly in storage
of coal and
partly in the increased cost of same, owing tolts scarcity re¬
sulting from the difficulties of transportation caused by the severe weather
last winter, have
greatly increased the operating expenses of the company
during the year.
New Central Plant.—In order to take care of the
increasing business, the
directors have acquired 112 acres of land on the North Branch
of the Chi¬
cago River, north of Belmont Ave., for the purpose of
building thereon a
central power plant which iwll have an ultimate
capacity of 360,000 h. p
Work on the first section of this
plant Is now in progress and It is expected
that 60,000 h. p. of
machinery will be installed and in operation by next fall.
Business.—The company’s connected business (exclusive of electrical
energy supplied to other public service corporations) amounted to the
equivalent of 5,915,622 standard 16-c. p. lamps on Sept. 30, 1910,
agalns
4,920,800 on Sept. 30 1909.
cost of merch. sales)
INCOME ACCO UNT.
1909-10.
[Voi*.
b Includes traffic contract guaranty at $25,000 per month ($300,000);
less earned from traffic, as per contract for year, $105,309 in 1908-09,
$59,130 in 1907-08 and $150,463 in 1906-07.
c Includes traffic guaranty at $3,000 per month ($36,000), less earned
from traffic as per contract for year, $3,425 In 1908-09, $9,174 In 1907-08
and $11,376 in 1906-07.
Nov. 26
SHEET JUNE 30.
BALANCE
Assets—
1910.
1909.
1908.
5
*
15.792,850
26,662,042
133,617
243,591
9,323
2,384,585
5,489,239
730.866
3,002,854
1,261,473
$
14,901,272
26,653,870
130,670
243,842
and securities) 15,711,875
Equipment—-Iron department—— 26,866,788
134,920
Equipment—Miscellaneous
Equipment—Hospital
243,201
Equipment—Sociological
8,737
Cash on hand
2,426,254
Securities—Stocks and bonds
6,056,719
Bills receivable
706,492
Customers and others
2,872,803
Colorado Industrial Co—
2,077,013
Rocky Mountain Coal St Iron Co
144,832
Iron department—Supplies
— 1.453,885
Real estate (properties
_
Iron department—Manufactured stocks
Iron department—Mlsc. accounts—
Industrial department—Supplies
Coal and coke on hand
Sunrise St Chic*, stripping St ore devel’t
Royalties on leased lines paid In adv_ _
Uncollected dividends and Interest.Miscellaneous accounts, Stc
Profit and loss
(1)The
142,090
959,771
771,595
232,611
401,916
62,546
329,058
24,507
91,037
469,229
1,110,146
279,293
411,132
75,996
9,666
1,548,378
5,341,939
866,850
2,899,288
1.079,559
129,204
872,214
1,261,168
206,262
398,030
467,505
85,582
246,542
20,263
103,684
385,037
1,229,932
61,450,665
59,662,306
58,613,254
34,235,500
2,000,000
£20,822.000
34,235,500
2,000,000
20,834,000
34.235,500
2,000,000
19,945,000
302,794
432,372
Total assets
340,621
37,720
154,096
538,142
Liabilities—
Common stock
Preferred stock
Funded debt
Unpaid general and freight vouchers.
Unpaid pay and time checks
Colorado Supply Co
Bond Interest—accrued but not due.
Fund for payment of taxes
Colorado St Wyoming Railway Co—
Fund for emergencies
Sinking fund—real estate
Iron lands development fund
Re-llnlngfurnaces,lnsur. fund & mlsc.
Profit and loss.
Total liabilities-
250,173
16,850
403,244
412,259
58,796
424.069
100,000
162,547
16,850
873,634
799.978
203,764
215,062
738,563
19,027
164,806
59,662,306
58,613,254
470,289
555,457
81,313
858,130
100,000
100,000
152,116
21,570
983,554
61,450,665
-
78,175
423,331
x Includes Col. Fuel St Iron Co. 5% 10-year convertible gold debentures,
314,167,000; Col. Fuel St Iron Co. 5% general mtge. bonds, 35,515.000;
Colorado Fuel Co. 6% gen. mtge. bonds, 5363,000; Grand River Coal Sc
Coke Co. 6% 1st mtge. bonds, 5877,000.
The Colorado Fuel
1910.
5
Iron, Sc6., lands. 57,650,115
Equipment, *c. 28,082,011
Railroads
5,854,000
& Iron Co. and Subsidiary Companies.
58,335.250
27,696,024
5,791,583
34,038
20.254
Timber lands,&c.
Store bldgs., dec.
36,184
34,005
389,628
4,033,466
3,111,117
2,683,951
2,616,335
3,076,692
2,440,974
Cash
Bills receivable.
Stocks St bonds.
Cash (trustees).
Reserve funds..
Accr’d interest.
Royalties in adv.
In blank to the trustee under said collateral trust mortgages.
decree of foreclosure Is to determine the 1st M. of 1899 to be a
first lien on all the properties and franchises owned by the Michigan Cornpany at the execution of said mortgage, or thereafter acquired by the com-
{>any
or Its receivers,
therefrom referred
those certain
tracts or parcels of
and numbered
1 to 9,saving
both Inclusive,
to below.
Lake Superior Corporation agrees to convey to the receivers, by
warranty deed, certain lands in the city of Sault Ste. Marie and all in
Township 47 North, Range 1 West, containing 631.40 acres, for $10,394,
with Interest thereon at 6% per annum from Jan. 22 1909.
Also to procure from Charles D. Warren his resignation as one of the
receivers of the Michigan Company upon receipt of $5,000 per annum as
compensation for his services, It being the Intention that the committee
shall, with the concurrence of the Court, have the sole power of suggesting
who shall be receiver or receivers, said Clarence M. Brown to become sole
receiver upon the submission of said Charles D. Warren’s resignation.
Further, to assign to the committee all claims that the parties next named
may have against the Michigan Company, for which claims sums aggregating
$121,584 have been paid by the corporation: Mason Sc Hoge Co., Stanley
Electric Mfg. Co., Thompson Towing Sc Wrecking Co., Wellman-SeaverMorgan Co., Soo Lumber Co. and Soo Hardware Co.
Likewise all claims
for (a) advances aggregating $262,500 made in liquidation of three semi¬
annual Interest payments In respect of said 1st M. bonds of the Michigan
Company, as to which payments Hens upon the receivers’ estate have been
created by the Court, by order duly entered Nov. 19 1907; (6) alleged bal¬
ance due, aggregating $265,191, more or less, made up of $14,912 for legal
fees, Interest on certain Items and $250,279 alleged claims, Including said
mechanics’ lien claims,aUeged to have been purchased by the Corporation;
(c) alleged balances, aggregating $3,666.
Also to cause all of the outstanding capital stock of the St. Mary’s Power
Co. to be placed in the name of the receiver of the Michigan Company, save
for 42 shares which are to be placed In the names of such parties as may be
nominated by the committee.
Any sum awarded on the condemnation
proceedings Instituted by the U. S. Government against Island No. 5 in
the St. Mary’s River shall solely enure to the benefit of the trustee under the
said first mortgage of the Michigan Company (V. 88, p. 999; V. 90, p. 1299).
To transfer to the receiver all interest of the corporation or its subsidi¬
aries In the stock and property of the Sault Ste. Marie Terminal Ry. Co.
To cause to be executed by the Lake Superior Power Co. (a) an Instru¬
ment releasing the receivers and the Michigan Company from any claims
for use of the Lake Superior Power Company’s compensating works prior
to the date of this agreement, a claim for alleged past use thereof having
recently been presented for $117,000, more or less; also (b) an agreement
that no claim for use of said compensating works shall be made so long as
the Michigan Company remains In the hands of a receiver; and, further,
(c) an agreement that, subject to the mortgage dated Jan. 1 1903, made by
the Lake
84,784
238,959
97,801
201,784
46,628
170,339
4,299
16,349
99,841
6,077
37,720
24,508
1910.
Liabilities—
5
Common stock. 34,235,500
Preferred stock.
2,000,000
Funded debt—
Gen. M. 5s...
5,515,000
Conv. debs. 5s
993,000
Col. Fuel 6s..
363,000
Col.Ind.Co.5s 33,848,000
Rky.Mtn. 5s.
Gr.Rlv.C'16s.
C.C.&I.Dev.5s
Pueblo Realty
Tr.Co.6s_.
Acc’ts payable.
Accr’d bond lnt.
Accr’d taxes
Fund for fire ins
Balance
Total assets.. 102,358,241 100.556,475
Total
554,000
877,000
1909.
$
34,235,500
2,000,000
5,440,000
1,003,000
438,000
33,911,000
567,000
889,000
*575,000
*575,000
1,908,629
862,747
113,500
20.512.865
1,202,756
863,107
113,500
10,285
19,308,327
102,358,241 100,556,475
•
The Colorado Coal St Iron Co.’s 5% bonds ($575,000) matured July 1
1909, their retirement. It appears, being provided for by the Issue of a cor¬
responding amount of Pueblo Realty Trust Co.’s 6% bonds.—V. 91, p. 947.
Michigan Lake Superior Power Co., Philadelphia.
{Report of First Mortgage Bondholders’ Committee, with Ex¬
tracts from Agreement Dated Oct. 25 1910.)
The committee of
1st
Phila., Chairman, made
bondholders, John Pitcairn,
Nov. 12 1910 its fourth report,
M.
on
the substance of which follows:
After considerable negotiation. It was agreed on May 27 1910 that each
side should appoint a representative to work out a plan of settlement.
Mr. Pitcairn appointed Percy M. Chandler as the committee’s representa¬
tive, and Mr. Drummond, President of the Lake Superior Corporation,
designated Mr. J. Frater Taylor on behalf of the Corporation. On June 10
Messrs. Chandler and Taylor recommended the outline of an agreement of
settlement of all differences.
The recommendation was approved by this
committee, the corporation and the several trustees under the Michigan
Company’8 first and second mortgages and the corporation’s mortgage, and
was subsequently executed In the form hereto attached.
The agreement Is substantially self-explanatory.
Though your com¬
mittee Is advised that, by the terms of the bondholders’ agreement of
May 29 1908 (under which over 99% of the $3,500,000 1st M. bonds has
been deposited). It has power to enter Into the proposed agreement, the
committee feels that the matters involved are of such extreme Importance
that the proposed agreement should be submitted to you for consideration.
Under the proposed agreement, the committee allows the Lake Superior
Corporation’s trustee 4-39 of such securities as may be allotted the deposit¬
ing 1st M. bondholders, or, at the committee’s option, $200,000 In cash;
the Lake Superior Corporation, Its trustee under its $10,000,000 mortgage,
its allied and subsidiary companies, and others, forego all known claims
against the Michigan Lake Superior Power Co., including their $2,400,000
2d M. bonds, the $500,000 capital stock and $320,759 demand notes of
the Michigan Company and sundry other claims exceeding $1,000,000;
future use of the compensating works Is gained at a nominal rental.
If you require any further Information In respect of. or If you dissent
from, the proposed agreement, you will please advise the committee’s
counsel wltnln 15 days from date of this report.
If, within that period,
holders of 1st M. bonds, deposited under the agreement of May 29 1908, of
an aggregate par value of more than 50% of the total bonds then so de¬
posited dissent In the manner above Indicated, the proposed agreement
will be treated as null and void; otherwise, it will be regarded as approved.
We believe the proposed agreement operates to the advantage of the
assenting 1st M. bondholders, and unhesitatingly urge Its adoption.
successors shaU be entitled to the use of said compensating
year from the date of reorganization at a rental of $100 per
year, with a provision that the right to such use may be renewed from year
to year upon the same terms until such time as compensating works,
sufficient to divert all water required to operate to fuU capacity the plant
of the Michigan Company as now or hereafter constructed, are provided
one
the American side of St. Mary’s River.
»
To deliver to the committee a proper agreement, granting to the com¬
mittee, Its successors and assigns, subject to the terms of said collateral
trust mortgages, the privilege of leasing aU or any parts of the tracts of
land numbered 1 to 9 referred to below for not to exceed 50 years on the
basis of a rental of $750 per annum for all said land.
To Indemnify the Michigan Company and any reorganized company
against any claims of any nature of the Consolidated Lake Superior Co.,
Included in which claims is an unsecured balance alleged to be due for
vouchers of the Michigan Company paid by the Consolidated Lake Superior
Co., aggregating $418,345.
To cause to be assigned to the committee 999 shares of stock of the Sault
Ste. Marie Light, Heat Sc Power Co.
Basis of Participation of Lake Superior Corporation in Reorganization.
The value of the foregoing Interests of the Lake Superior Corporation, all
allied companies and the United States Mortgage & Trust Co.,trustee, it Is
agreed, shaU be treated as If the said trust company, as such trustee, were
a
[Signed: John Pitcairn, Chairman: Thomas M. King, Percy M. Chandler,
Samuel F. Houston and Alexander J. Hemphill, with A. S. Weill, 1418
Land Title Building, Philadelphia, Counsel.!—V. 90, p. 1299.
Extracts from Agreement of 1st JW. Committee with the Lake Superior
Corporation Dated Oct. 25 1210.
Lake Superior Corporation agrees that the U. S. Mortgage St
Trust Co., as trustee under the collateral trust mortgages dated May 21
1904 and Nov. 30 1904, will (a) deliver to the oommittee an agreement that,
upon receipt of the bonds, stock or cash to be delivered as provided below,
said trustee will deliver to the committee $2,400,000 2d M. bonds of the
Michigan Co. and all unpaid coupons thereof, together with the $500,000
capital stock of_ the Michigan Company and demand notes aggregating
depositing first mortgage bondholder of the Michigan Company under
said bondholders’ agreement of May 29 1908, to the amount of $400,000,
and as if the total principal amount of said first mortgage bonds of the
Michigan Company had been $3,900,000 Instead of $3,500,000.
The committee further agrees that on the date when the committee dis¬
tributes to the bondholders who have deposited their 1st M. bonds the net
amount of such bonds, stock or cash as said bondholders may be entitled
to under any plan of reorganization or dissolution, the trustee under said
collateral trust mortgages shall receive from the committee 4-39 of all the
bonds, stock or cash that would have been distributed to said depositing
1st M. bondholders but for the provision in this paragraph contained;
Provided, however, that In respect of said 4-39 of such bonds, stock or
cash so to be allotted, neither the corporation nor the United States
Mortgage St Trust Co., as such trustee, shall be required to bear any portion
of any cash payments or charges that the committee may require or permit
the depositing first mortgage bondholders to
assume In respect of new
securities which the committee may cause to be Issued by the new or re¬
organized company In order to secure fresh money for betterments or
development or other legitimate requirements of tne committee or the
new or reorganized company.
Nor shall any securities given In return for
said cash payment be taken as forming any part of the amount as to which
said trustee Is to receive 4-39.
The committee shall reserve the option, to be exercised not later than
four months after the date of reorganization, but In no* event later than 18
months from date of the committee’s agreement In this paragraph referred
to, of paying the United States Mortgage St Trust Co., as such trustee,
$200,000 cash In purchase of said 4-39 of bonds, stock or cash.
It Is the Intention of the committee to endeavor with all due diligence
to complete the reorganization to the end that the distribution to the
holders who have deposited their bonds under said agreement of May 29
1908 may be made at the earliest practicable date.
The committee will procure from the Real Estate Trust Co. of Phila¬
delphia. as substituted trustee under said first mortgage of the Michigan
Company, an agreement that, upon delivery to the committee of the
bonds, stock ana notes referred to In Par. (t) hereof, said trust company
will deliver to the corporation a deed quit-claiming to the corporation all
of said trustee’s Interest In those certain tracts of land numbered 1 to 9,
both Inclusive. In the corporation’s supplemental mortgage to the United
States Mortgage Sc Trust Co., trustee, dated Nov. 30 1904.
There shall be Issued by the Northern Michigan Railway Co. as soon
after Dec. 1 1910 as practicable, capital stock to an amount which will
make the total outstanding stock Issue of said railway company $55,500,
of which $44,000 shall be transferred to the receivers of the Michigan Com¬
pany and $11,500 of said stock shall be transferred to the corporation or its
nominees In full settlement of all claims against said railway company.
No representations are made respecting any claims of the Union Carbide
Co. [on account of contract for power; V. 86, p. 1526.—Ed.].—V.90, p.1299.
GENERAL INVESTMENT NEWS,
RAILROADS. INCLUDING ELECTRIC ROADS.
American
Charles H. Graham has felt constrained to resign from the committee.
Superior Power Co. to Central Trust Co., trustee, the Michigan
Company ana its
on
1909.
5
Cooperage plant
Inventories, <fec.
Acc’tsreceivable
1445
$320,759, more or less, all freed from the lien of said collateral trust mort¬
gages.
(b) cause to be transferred to the committee or its nominees
12 shares of the capital stock of the Michigan Company in order to qualify
directors, the said nominees forthwith to execute transfers of said shares
works for
CONSOLIDATED BALANCE SHEET JUNE 30 UNDER
APPRAISEMENT OF 1909.—(V.89, p. 1664).
Assets—
((32))TThhee
THE CHRONICLE
1910.]
Railways. Philadelphia.—Re-Exchange—Retire¬
of Bonds—See “Inter-State Railways’7 below.—V. 90,
789, 716.
m
ment
p.
Buffalo Rochester”Pittsburgh’RyNew President.—
William T. Noonan, formerly Vice-President and General
Manager, has been elected President to succeed Adrian
Jr., who has been made a Vice-Pres.—V. 91, p. 1024.
^Chicago Great Western 'KB,.—Change in Chicago'Office.—
The following announcement is made:
Iselin
1446
THE CHRONICLE
On amt itterNov. 18 theofflcea of the President, Vice-President, Genera1
Manager, General Freight Agent, General Passenger Agent and Purchasing
Agent, formerly located in the Harvester Building, will be located on the
11th floor of the People’s Gas Building, corner Adams St. and Michigan
Boulevard, Chicago, Ill.
The offices of the Accounting, Engineering and Treasury Departments
will remain In the Grand Central Station, 5th Ave. and Harrison St.,
Chle&gO.—V, 81, p. 1243, 1160;
Chicago Lake Shore & Eastern By.—Listed in London.—
The London Stock Exchange has granted an official quota¬
tion to the $9,000,000 434% 1st M. gold bonds (V. 89, p.
(jVOL. LXXXH
Joseph A. Ramsey Jr., the only bidder: Attorneys repre¬
senting F. J. Lisman & Co. and the King committee filed a
formal
The
protest.
$5,008,000 consol. M. 4 H% bonds were sold for $508,000 and the
$3,001,000 Ann Arbor common ana $£,190,000 pref. for $2,000,008.
Com¬
pare V. 91, p.; 1025.—V. 91, p. 1383, 1160.
■
Florida East Coast By .—Effect of Storm on
Key West Ex¬
tension.—W. J. Krome, chief constructing engineer, says:
The extension work north of Knight’s Key was not
severely damaged
and the equipment was practically uninjured.
Several of the
temporary
trestles were partly destroyed by floating debris and the
1410).—V. 90, p. 1170, 108.
repairs to these
prevented the operation of regular trains for about a week. At Boea Chica
Chicago Southern By.—Successor.—See Chicago Terre one pump barge was destroyed and the steamer Virginia drifted Into the
bridge and was a total wreck. The concrete arch work suffered no damage.
Haute & Southeastern RR. below.—V. 91, p. 1327, 1253.
From Key West to Boca Chica the loss was very heavy.
The extreme
of the water and the fact that the wind came from what was consid¬
Chicago Terre Haute & Southeastern BB.—Successor height
ered the least exposed side of the road-bed caused the
washing out of a long
Company.—The company has been incorporated in Illinois section of track and embankment. The loss at the Key
and Indiana as successor to the Southern Indiana Ry. line was much heavier than in 1909, and was the greatest West end of the
damage that has
been incurred.
With full protection such as would have been
completed
(V. 91, p. 1255) and Chicago Southern Ry. foreclosed.
within a few months It Is probable that trains could have been
operated
Cincinnati (O.) Street By.—New Secretary.—Albert J. from the terminal to Trumbo Island without delay. No lives were lost
at any point along the extension work.
Beeht, Assistant Cashier of the Citizens' National Bank, has
Listed.—The New York Stock Exchange has listed $10,been elected Secretary to succeed James A. Collins, deceased.
000,000
1st M. 50-year 434% bonds due 1959.—V.91,p.589.
Mr. Beeht will sever his connection with the bank.—V. 84,
Fort Smith & Western RR.—Deposit of Securities.—Hold¬
p. 1551.
Cleveland Cincinnati Chicago & St. Louis By.—Bonds ers of the securities of the Fort Smith & Western RR. and
Called.—Six consolidated 6% mortgage bonds of 1880 of the Sans Bois Coal Co. have been asked to deposit their hold¬
the Cincinnati Indianapolis St. Louis & Chicago Ry. have ings with a committee composed of W. L. Brown, A. W.
been drawn for redemption on May 1 1911 at 105 and
Mellon, Colgate Hoyt, W. H. Canniff, W. G. Mather, J. J.
interest at the office of J. P. Morgan & Co., New York. Sullivan, George S. Russell, James H. Hoyt, S. H. Tolies,
C. C. Bolton and A. C. Dustin.
W. B. Jackson in the “Ohio
—Y. 90, p. 1613.
Cleveland & Pittsburgh BB.—Listed.—The New York State Journal" of Columbus, Nov. 17, said:
The bonds were never marketed, and the proposition,
Stock Exchange has listed $465,500 additional special guar¬ written
largely under¬
in Cleveland, with some bonds taken in Columbus, has failed
anteed betterment stocktaking the total listed $9,853,050. to make good. The accumulated deficit up to last year
was $725,796. The
road Is 196 miles
-
The new stock represents new equipment ($88,684), second, third and
fourth tracks, storage yards and track elevation ($82,843), right-of-way
and station grounds ($291,943),* remainder for various purposes.
Earnings.—For 6 months ending June 30:
Six
Operating
Net (ajter
Months.
Revenue.
Taxes.)
$1,557,836
1,337,934
1910
1908
$5,442,331
4,223.718
—V. 88, p. 992.
Fixed
Charges.
$390,114
390,463
Dividend
Fund.
$581,240
558,565
Balance,
Surplus.
$586,482
376,906
Dayton & Michigan BB.—Extension of Bonds at 434%
Right to CaU at 10234-—Holders of the $2,728,000
consolidated 1st M. 5% bonds dated Jan. 1 1881, maturing
Jan. 1 1911, are notified under date of Nov. 19, by advertise¬
ment on another page, that, pursuant to arrangement with
the company and J. P. Morgan <fc Co., the Cincinnati Hamil¬
ton & Dayton Ry. Co., the lessee of the Dayton & Michigan
RR. Co., under lease dated May 1 1863, amended June 23
1870, will permit the holders of said bonds to have the same
extended so that they shall mature Jan. 1 1931, with interest
at the rate of 4^4% per annum, payable J. & J. in New
York, the railway company reserving the right at its option
to redeem on Jan. 1 1917, or on any interest date thereafter,
by payment of a premium of 234% and interest. The
with
Eresent
on theO.,entire
extending from
lienToledo.
railroad,unimpaired.
0., to
Dayton., first
will remain
J. P. Morgan & Co., referring to the above notice, state that the ex"
privilege applies only to the holders of such bonds who deposit the
with the undersigned at their office, 23 Wall St., New York, on or
before Dec. 15 1910.
A cash payment of $5 per $1,000 bond will be made
to such depositors; and the Jan. 1 1911 coupons, if presented, will be cashed
at the time of such deposit.
At any time on or prior to Jan. 3 1811, at their office, the firm wil
buy, at par and Interest, the bonds of such holders as do not desire to avail
themselves of the above privilege of extension.—V. 88, p. 563.
tension
same
Denver Northwestern & Pacific
In length and operates from Guthrie, Okla,, to Ft.
Smith,
I. T., the last 20 miles over the Kansas City Southern.
It was designated
coal-carrying proposition, but that end of the venture failed to do
well.
Bonds outstanding are $6,240,000 1st 4s, and there are besides
$452,408 equipment trusts. The capital outstanding is $5,000,000. In¬
terest on the bonds has been
unpaid since Oct. 1 1907. 1 Considerable
money has been borrowed with the bonds as collateral.
No action has been
taken to force payment, but It has been deemed wise, the circular
states,
to take action In order to protect all interests.
The committee Is given
power to act In case of a receivership.
A. C. Dustin Is President of the
company.
The directorate is largely made up of prominent Clevelanders
and Henry C. Frick of Pittsburgh.
The late N. Monsarrat, President of
the Kanawha & Michigan, was a large holder of these bonds.—V. 83,
p. 271.
as a
Frederick (Md.) BB. —Purchase.—The company recently
applied to the Public Utilities Commission of Maryland for
authority to issue an additional $40,000 of pref. stock to
pay for a majority of the shares of the stock of the Frederick
Gas & Electric Co.
This will make $180,000 pref. stock outstanding—$170,000 now Issued
and $10,000 more to be sold.—V. 90, p. 1296.
Great Northern By.—Statement by James J. Hill.—Chair¬
James J. Hih was quoted by the New York “Times" on
Nov. 22 as saying:
man
„
The
In
situa¬
tion, and in the Middle West business is good as a whole.
Take the case of my own road.
While last year our gross earnings showed
an Increase of about $10,000,000, it looked for a time as if this fiscal
year
they would show a decrease of from $2,000,000 to $3,000,000, but the In¬
dications now are that they will be up to last year’s and the net better.
The railroad situation as a whole, however. Is not good.
The roads are
handling* good deal of business and they will handle a good deal, but the
trouble Ts that there has been no new work done by the railroads, and when
traffic expands more (It has grown the past ten years at an average of about
15% a year), there will be congestion, and that In the centres of heaviest
traffic will mean added expense.—V. 91, p. 1160,1099,
Inter-State Railways, Philadelphia.—Agreement as to 4%
Bonds Held by American Railways Co.—The arrangements
Ry.—Proposed $4,000,000
Improve Present Line.—President David H. Muffat, by which the Inter-State 4s held by the American Railways
in conversation with a representative of the “Denver Repub¬ Co. are to be returned to Edward J. Moore and Caleb F. Fox
lican," stated on Nov. 19 that he was just as firm in his and others were ratified yesterday by the stockholders of the
American Railways Co., as was also the pref. stock plan by
determination to complete the undertaking as he ever
was,
and that the prospects to-day are much brighter than ever the stockholders of the Inter-State Railways Co.
The
before.
He al3o favors expending about $4,200,000 in short¬ “Philadelphia News Bureau" on Nov. 23 said:
American Railways Co. holds about $1,700,000 of the Inter-State 4S.
ening the present road 16)4 mile3, with a saving of 2,130 ft. [including
over
deposited by Mr. Fox and Mr. Moore], which
of elevation, through the construction of a 4-mile tunnel were acquired In$1,000,000
exchange for Its own debenture 4 Hs on a basis of par for
the latter to 50% for the former, in accordance with a plan (now abandoned
through the main range of the continental divide.
for taking over the Inter-State properties.
The
Tunnel to
Abstract of Letter of Vice-President Wm. G. Evans, Nov. 18 191C,
As the result of the several surveys shown in the reports, It is the decision
of the engineers that the best location for the eastern portal of a main
range
tunnel Is at a point on the eastern slope about 3 miles west of Tolland (a sta¬
tion 47 miles west of Deliver) at 9,470 ft. above sea level. The western portal
would be In the Fraser Valley about three miles southeast of Vasquez.
The elevation of Corona, the present railroad summit, where the Moffat
road crosses the crown of the continental divide, Is 11,600 feet.
The tunnel
will save in elevation 2,130 feet, will cut out afl heavy grades and shorten
the main line 16 H miles.
The tunnel would be 4.1 miles long and would be easily approached at
both the east and west portals at a maximum of 2% grade and easy curva¬
ture from the present main tine.
The cost of the tunnel, if lined with rein¬
forced concrete for 75% of its entire length, with connecting tracks and
yards at either end and with generating plant for lighting the tunnel and
for electrically operating trains through It, is estimated to be within $4,200,000.
It will require between 3 and 4 years to complete the work.
The saving in conducting the annual business now done by the road should
be sufficient to pay Interest at ordinary rates on the cost of the tunnel.
The saving on the haulage of the coal business done from Routt County alone
will shortly amount annually to a sum largely In excess of a reasonable
annual Interest charge on the cost of the tunnel.
The fine quality of the bituminous and anthracite coal In Routt County,
the enormous and accessible supply there, the wide and certain market for
this good coal existing as far west of Denver as Missouri River points—all
make It certain that the ooal traffic alone over the Moffat line will steadily
Increase from Its present proportions to average shipments of from 5,000
to 10,000 tons or more per day.
With the above-mentioned tunnel completed, the grades upon the Moffat
road would be much easier than upon any other railroad crossing the moun¬
tains In Colorado.
The construction of the tunnel will be an Important
factor In the speedy further development of the fertile and resourceful
Grand River, White River and Bear River valleys In western Colorado
With the proposed tunnel built and a connecting line about 40 miles long
constructed along the Grand River Valley from Orestod to Dotsero, the
present rail route from Salt Lake City to Denver would be shortened
about 168 mlles.^—V. 91, p. 843.
^Detroit Toledo & Ironton
.
Kansas City Mwdco & Orient "Ry.—Inspection Trip.—
President A. E» Stilwell,, with a party of 55 capitalists, has
Ry,—Collateral Sold.—The col¬ just completed an inspection trip over the road.
of 1905 was sold on m>M*. Stilwell reports that -a rapid development of a large region Ih the
Sons, auctioneers, to southwestern part of the United states and a wide area m Mexico already Is
lateral for the $5,500,000- 5% notes
Nov. 25 through Adrian H. Muller <fe
American Railways Go. is
unwilling to accept the pref. stock plan, as a bondholder, but has no desire
to stand in the way of those who are willing to accept It.
The proposed basis of re-exchange provides that the Inter-State bonds
shall have the February coupons attached and the American Railways
bonds the July coupon or be accompanied by the cash equivalent.
It is
Intended, if the re-exchange is effected, to retire the Amerlean Railways
debentures which were issued for this purpose only.
Some compensation, which it is felt Is Justly due, will be given to the
American Railways Co. for its services in practically Insuring the price Of
the bonds.
The amount of'such compensation is still under consideration,
but sums between 2% and 4% of the amount exchanged are being discussed.
The debenture bonds Issued In exchange for the Inter-State bonds, to1 the
ratio of 1 to 2. were convertible info American Railways stock, and heaee
worth, in per cent, about twice the current quotation for Amerlean Rail¬
ways stock.
This fixed a definite minimum value for the Inter-State bonds.
If the latter rose In the market above this figure, those who deposited their
bonds could demand their return, but in the event of their falling the
American Railways could not force their return.
Hence it virtually insured
their price'. -■
To date about $740,000 of the proposed $1,000,800 pref stock Issue of the
Inter-State Railways Co. has been subscribed.
Extract from Statement by Large Holder of Inter-State 4s, Oct. 241910.
If the company Is given a chance to recuperate It can do so from Its oWn
The fixed charges are only
resources and without help from the outside,.
$790,009.: The rentals from the lease* of the underlying properties, Will
start at $810,000 per year and increase annually until a maximum of well
over $1,000,000 Is realized.
Under the terms of the leases the lessees are
obliged to provide for maintenance of all the properties. The costs 6f
administration of the company will be merely nominal.
There will, there¬
fore, be a good margin of receipts over fixed charges and. expenses applicable
to liquidating overdue obligations.
When this has been accomplished, the
balance of Income will belong to the stock.
The present outstanding StOCk
IS only $2,300,080, so th*t the hope of dividends appears far from being
unreasonable.—V. 91, p. 138$, 1095.
119900--.$,2498*
Nov. 26
1810.]
The road is
to
HIE CHRONICLE
completed and in operation from Wichita, Kan.,
Called.—The company has called for payment at 105 and
interest on Jan. 1 1911 at the Farmers’ Loan & Trust
Co.,
New York, the remainder of the
outstanding 1st M. bonds
($85,000) issued under mtg. dated Jan. 11896.—V. 89, p. 1347
Lancaster County Ry. * Light Co.—Earnings.—
12 Mos. end.
Sept. 30—
Total Net
Income.
Bond
Interest.
$261,041
200,824
$50,000
1908-09.
—V. 91, p. 463.
-
Tin supplemental mortgage also provides that the
mortgage.
San Angelo, Tex., 510 miles, and also for about 400 miles
in Mexico.
Construction work is being pushed on uncom¬
pleted portions of the line. See map of route in our “Rail¬
way and Industrial” Section.—V. 91, p, 1025.
Lake Superior A Ishpeming Ry.—Remainder of Bonds
50,000
Pref. Dies.
(5%).
$50,000
50,000
Amortization.
$40,572
8,118
Balance,
Surplus.
$121,309
02,706
1447
company
cannot sell any of the collateral held
by the trustee as security for the
gen. M. bonds without the approval of tne trustee as to
price. We have
also offered to deposit with the trustee to the credit of the
company any
difference between the price paid by us and the
price received by us from
the trustee, should we determine to tender any of the
gen. M. bonds pur¬
chased by us as above: said deposit to be used
only to pay the balance of the
floating debt and for capital expenditures.
The above action has strengthened
.substantially the company’s financial
condition and the security of your bond*, and should
give the management
an opportunity to work out results.
The company’s statements show that
Interest has always been earned on all of its bonded debt.. •
By provision of the supplemental mortgage, the bondholders are to have
their bonds stamped with a reference to the execution of the
supplemental
mortgage “creating additional security for the within-mentioned
bonds,
and modifying and enlarging the powers of the trustee and
restricting those
reserved by the said Railway A Electric Co. in the
mortgage securing said
bonds/’ Ac.
[The firms ask authority to present the deposited bonds to the
trustee to be stamped in accordance with this
Mi
[The aforesaid deposit agreement, dated Feb.provision.—Ed.]
9 1909, provides that the
gen. M. bonds and coupons deposited shall remain vested In said
committee,
Deing the two firms above named, subject to the terms of this
agreement,
“and shall not be withdrawn until all litigation
necessary In the opinion
of the committee shall have been fully
concluded,
nor until the full plan for
the reorganization or the said
company. Its subsidiary companies and prop¬
erty, shall In, tne
■
Lehigh Valley RR.—Listed in New York.—The New York and the
opinion of the committee have been sufficiently completed
trusts and powers hereof fully executed.”
There are no coupons
Exchange has listed $60,501,000 common stock, trad¬ in default on the general
mortgage bonds, nor have there ever been.—Ed.]
ing to commence Monday next, and has authorized the list¬ —V. 91, p. 1254. 791.
New York Central Lines.—Sale
ing of $53,850 additional stock on notice of payment in full,
of Remainder of $30,000,000
making the total amount authorized to be listed $60,555,350. Equipment Trust 4%s of 1910.—J. P. Morgan & Co. have
Earnings.—For the 3 months ending Sept. 30:
purchased and resold an additional $7,500,000 4equip¬
Three
'
Stock
Operating
Net (after
Other
Interest,
Add’ns
Balance,
Taxes).
Income.
Rents.,&c. & Bet’ts. Surplus.
$2,075,148 $215,178 $1,578,390 $228,817 $1,383,119
1909
8,568,324 k 3,006,345
—V. 91, p. 1386, 463.
Months.
Revenue.
Lexington A Bis tern Ry.—Sale.—See Louisville & Nash¬
ville RR. telow.—V. 91, p. 1025.
Louisiana A Arkansas Ry.—New Station, &c.—The new
passenger station at the terminal recently completed by
the company in the business section of
Shreveport, La., is to
be completed on or before Jan. 1
next, and will also be used
by other roads. The St. Louis & Southwestern Ry. has
contracted to use the station.
A trackage agreement Is In force for several
years with the Rock Island
for the use of the tracks of the Louisiana A Arkansas
Ry. from Pack ton to
P!nevllle,La.,36 miles. The Rock Island Interests will usethisas part of their
through line to New Orleans, via Alexandria. Under the terms of the
con¬
tract, the Rock Island pays one-half of the fixed charges, on a basis of
$20,000 per mile, amounting to $500 per mile
per annum, and In addition their
share of the maintenance charges.
For earnings of the month of Septem¬
ber and the 3 months ending Sept. 30, see
monthly earnings on a previous
page, before
“Investment News” items.—V. 91, p. 1323, 463.
Louisville A Eastern (Electric)
RR.—Sale.—Judge Evans
in the Federal Court at Louisville on Nov. 17 ordered the
sale of the road.
The upset price, it is
understood, is
$1,000,000.—V. 91,
p.
463.
Louisville A Nashville RR.—Purchase.—The
company has
acquired all of the $500,000 capital stock of the Lexington &
Eastern Railway Co. and nearly all of the
general mortgage
bonds ($1,500,000) and deferred debentures
($330,000),
“thereby assun ing an issue of first mortgage bonds ($800,000) which mature during the year 1911; so that it is ex-
gected
that clear
withinof aallreasonably
time the property
will
entirely
mortgage short
obligations.”
The present
e
have entered upon an extension of the line from
Jackscn. Ky., up the North Fork of the
Kentucky River
to a point near the headwaters of Boones
Fork,
a distance
of about 96 miles (see Consolidation Coal Co. in
V, 91 p.
1330).—V. 91, p. 1323, 1025.
Middletown Unionville A Water Gap
RR.—Protective
owners
ment trust certificates dated Jan. 1910.
This block is made
of $500,000 of each maturity, Jan, 1911 to 1925 inclusive.
The sale completes the
marketing of the $30,000,000 author¬
ized issue, $22,500,000 having been
disposed of by the same
firm in June last (V. 90, p. 1677).
up
The notes were placed on a basis of
4.65% cost
It is understood, Is slightly less than for the
money
of the previous $22,500,000.
Most of the present
99 and 99 X, depending upon the date of
maturity.
Issue matures serially from Jau. 1 1911 to
Jan.
$2,000,000
a
year.—V. 90, p. 1677
to the company,
which.
secured through the sale
Issue
was resold
around
The entire $30,000,000
1 1925
at
the rate of
Norfolk A Southern Ry.—Distribution to Bondholders.—
Judge Waddill in the United States Circuit Court at Norfolk,
Va.,on Nov. 23,entered a decree confirming the report of sale
of
the road on Dec. 7 last
and directing the manner of
as
purchase price.
(V. 89,
p.
1542; V. 90, p. 698),
applying the $8,500,000 received
'
A
deficiency Judgment for $7,948,471 was granted in favor of the Trust
Co. of America, trustee, against the old N. A S.
Ry. The Court allows
$570 per $1,000 “first and refunding” bond
outstanding In the hands of the
public (total $14,000,000), and $516 per $1,000 “first and
refunding” bond
held as security for $2,197,998 collateral
trust gold notes due Nov. 1 1910
(see reorganization plan, V. 91, p. 614, 678).—V.
91, p. 1026.
North Coast RR.—Consolidation.—See
Oregon-Washing¬
ton RR. & Nav. Co. below.—V.
90, p. 698.
Ocean Shore Ry., California.—Sale
Postponed.—The fore¬
closure sale has been postponed sixty
days “or until Jan. 17,”
at the request of the bondholders’
committee.
Charles C. Moore, Chairman of the
committee, Informed the Court on
Nov. 10 that there had then been
deposited under the plan $2,822,800 of the
bonds, and the holders of $1,20(H000 more had promised to
deposit their
holdings. The committee believes that the deposit of 90% of
the entire
bond Issue will be obtained within the next
sixty days. If there should he
no adequate bid for the
property, the committee proposes to buy it in and
complete the road from Santa Cruz to San Francisco.
Receiver Frederick
S. Stratton estimates there will be a deficit of
$5,000 In the operation of the
road during the winter.
Owing to the condition of the money market, the
election, Ac., the committee has had difficulty in raising
cash needed at
time of sale and the Court has therefore increased
from $131,433 to $141;,433
the amount which the receiver Is
required to have on hand.
Bondholders’ Committee.—The committee of 1st M. bond¬
holders consists of:
A. C. Ealns, R. D. Robbins, F. W.
Bradley, Maurice Schweitzer mid
Charles C. Moore (Chairman)
It is contemplated that certificates
all of the shares of stock
representing,
of the new company (less If thought
necessary “bonus shares,”)” shall be
issued In the names of the members of the
committee as
be held
by them until the inoome of the new company shall trustees, to
pay the expenses of
operation and maintenance of the road and Interest
and sinking fund
charges on the 1st and 2d M. bonds for at least one year.” and
thereupon
said certificates shah be issued in
exchange far the certificates of deposit.
See further particulars as to plan of Nov. 3 hi V.
91, p. 1255.
.
Measures.—H. S. Henry <fc Son, 21 State St., New York,
request holders of the 2d M. bonds, due June 1 last, the prin¬
cipal of which was defaulted, to communicate their addresses,
with the amounts of their
holdings, to the undersigned in
order that joint action
may be taken for the protection of
holders of the bonds. Compare V. 91,
p. 154; V. 90,p.1363.
Oregon Railroad A Navigation Co.—Consolidation.—See
Mt. Airy A Eastern Ry.—Sold.—This 12-mile
road, ex¬
tending from Mt. Airy, N. C-, to Keblers (lumber) Mills, Oregon-Washington RR. & Nav. Co. below.—V. 89, p, 163.
Patrick County, Va., has been bid in at receiver’s sale for
Oregon-Washington RR, A Navigation Go.—Proposed
$20,000 by John Hare of Washington, D. C.—V. 91, p. 397. Consolidation.—This company was incorporated at Port¬
land, Ore., on Nov. 23 with $50,000,000 of authorized
Newport News A Old Point Railway A Electric Co.— stock
capital
to merge the new North Coast RR.
Bonds.—In response to its recent
(building—V.
90,
request for tenders of gen. p. 698), the
M. bonds, the
Oregon RR. & Navigation Co. and other sub¬
company has purchased through the Maryland sidiaries-of the
Union Pacific RR, Co. J. P.
Trust Co., trustee,
O’Brien, Gen¬
$606,000. The total auth. issue is eral
Manager
of
the Harriman interests in the Pacific North¬
$4,000,000, of which there have been issued $2,300,000.
west, in his official announcement at Portland said:
Of the latter amount,
$698,000, including the aforesaid
company Is organized for the purpose of securing and
$606,000, have now been retired, leaving outstanding $1,- theThe
taking over
property and rights of way now owned by the
RR. A Nav. Coi,
602,000. The remainder of the issue is held by trustea to Oregon <fc Washington RR. Co.,Columbia River A Oregon
Ilwaoo RR. Co., Des Chutes RR. Co., Lake Creek Oregon Central RR. Co.,
retire underlying bonds and bonds of
A Coeur d’Alene RR. Co.,
constituent companies. Oregon Eastern
Ry. Co., Oregon Washington A Idaho HR.
Notice to Holders of Gen.
Spokane
Depot Co.. Umatilla Central RR. Co., the North Coast Co.,
Mtge. Bonds.—Alex. Brown & Co., Union
RR. Co. and
Valley Ry. Co. These properties are situated In
Baltimore, and Brown Bros. & Co., N. Y. City, have sent Malheur
ington and Idaho and constitute a total of 3,474 miles of Oregon, Wash¬
a circular dated Nov. 9 to
roadbed.
the holders of their certificates
“Financial America” yesterday said:
of deposit of gen.
mtge. bonds, saying in substance:
It is learned that the
Referring to the deposit with
ns of general mtge. bonds, we have, after
protracted negotiations, looking to a betterment of the
company’s financial
condition, purchased $500,000 Norfolk & Atlantic Terminal
Co. (1st M.)
bonds which were held by the trustee as
part
collateral
for the gen. M. bonds.
This purchase placed the trustee in
funds with which to retire a large amount
of the outstanding general
mortgage bonds, if tendered as per advertise¬
ment (see V. 91, p. 1254).
We nave also purchased $600,000 general
mortgage bonds formerly held by the trustee of the
company’s collateral
trust notes, which notes were owned
by us, the company having defaulted
on same last March.
The opinion of our counsel
being that the general
mortgage should be strengthened, we obtained the execution of a
sup¬
plemental mortgage. The company In the past had from time to time
Issued its notes, having as collateral
security the notes of underlying com¬
panies. The underlying companies had also borrowed money directly and
Issued notes therefor. This, In onr
security of
your gen.
of the stock
M. bonds,
deposuea
judgment, materially affeetea
the
as these notes were designed to oome ahead
as part collateral Tor
riemental
your bonds.
The
suppi
mortgage prohibits the constituent companies from creating any
debt other
than that of current expenses.
We also required the whole surplus of our
purchase price to be applied
to the retirement of the floating
debt of the
As a result, a
Large portion of this debt has already been paidcompanies.
and nearly all of the notes
of the constituent companies have been
deposited with the^truste© of your
company will authorize
large bond issue, sufficient
to cover the needs for new
construction and development work la
Oregon
and Washington for a
good many years to come. The total Issue.will
probably be In the neighborhood of $150,009,090: though:it is
netproposed
to sell any of the bonds at
present dr In the near future.
Part will go into
the Union Pacific
a
treasury In: payment for advances made: by the parent
corporation for construction work done
by its
The
companies.
$30,000,000 stock will go into the treasuries of subsidiary
the Oregon Short Line RR.
Co. and the Union Pacific RR.
Co., which controls the Short!line, so that,
practically speaking, allot the stock wlU.be owned by the Union Pacific RR.,
will be a first mortgage bn the new
lines, except the portion (relatively
small) already covered by the
Oregon RR, A Navigation Co. 1st M. of
$23,000,000. The Union Pacific will,
accordingly, nave at Its disposal
what Is regarded as a first-class
bond to dispose of when it becomes necessary
to sell new securities against the
new lines in the Northwest.
Incidentally the formation of the new company
may be said to divide the
U. P. system into three distinct
parts: the Union Pacific proper, the South¬
ern Paotflc,
onerntlngin tbe Southwosti, and the Oregon-Washington RR. A
Navigation Co. In the Northwest./
Farrai A
Durango RE.— Sale.—-The road, extending from
to Paraje Seco, Durango,
MinaaNuevas, Chihuahua, Mexico,
Mex., 57 miles, with 8-mile
branch from Minas Nuevas to
THE CHRONICLE
1448
[VOL.
LXXXXI
Parral, has, it is reported, been sold to an American syndi¬
cate headed by A. J. McQuatters of Dallas, Tex.
more
The road. It Is said, will be extended from Minas Nuevas through the tim¬
ber belt of the Sierra Madres and the mining region of the western part of
the State to Durango City, over 150 miles of road, to the west of the Tepehuanes branch of the National Railways, including branch lines, to be con¬
structed.
The syndicate has also purchased the extensive holdings of the
Hidalgo Mining Co., consisting of mines and timber lands.
The consideration paid Is stated to have been $1,500,000.
The railroad
Deposit Co.of Philadelphia, depositary. The committee
company has outstanding $1,000,000 stock and $725,000 20-year 6% bonds
(authorized Issue $800,000), due Jan. 1 1928, but subject to call a 105;
Interest payable Jan. and July 1 at Union National Bank, Pittsburgh, Pa.,
trustee. Fidelity Title & Trust Co., Pittsburgh.
S. E. GUI of Pittsburgh
Is President.—V. 71, p. 1270.
Railways Company General, Philadelphia.—Extra Divi¬
dend.—The directors on Nov. 21 declared an extra cash divi¬
dend of 5% on the $700,000 stock, payable Dec. 2 to holders
of record Nov. 21.
The company has paid five quarterly dividends of 1% each, No 1 In
Nov. 1909 and No. 5 last week.
In September of last year an Initial cash
dividend of 10% was distributed. It Is the policy of the management to
Compare V. 91, p. 867.
pay extra dividends as the profits may warrant.
It was recently voted to change the date of the annual meeting from the
third Monday in September to the third Monday In February, and also to
change the date of the fiscal year from June 30 to Dec. 31.—V. 91, p. 867.
St. Louis Merchants Bridge Terminal Ry. Co.—Suit.—
Three minority stockholders, together owning $50,400 stock,
have brought suit against the Terminal RR. Assn, in the
St. Louis Circuit Court to recover, on behalf of the Merchants
Bridge Co., the sum of $2,040,000 expended since Feb. 1894
as interest on the $2,000,000 Merchants Bridge Co. 6% bonds,
and which, it is claimed, should have been paid by the Ter¬
minal RR. Assn, under the contract between them.
The Terminal RR. Ass’n claims that the Bridge Terminal Ry. has been
receiving all the revenue It Is entitled to, and that the suit Involves merely
an Interpretation of the agreements between the companies.—V. 81, p. 32.
St. Louis & San Francisco RR.—Possible
Traffic Agree¬
Chicago Milwaukee & St. Paul.—An inspection trip
over the lines of the St. Louis & San Francisco system by
B. F. Yoakum and President Winchell of the ’Frisco and
President Earling of the St. Paul has led to a report that a
traffic agreement between the companies is contemplated.
No confirmation of the report is obtainable.—V. 91, p. 1328,
1252, 1242.
Southern Indiana Ry.—Successor.—See Chicago Terre
Haute & Southeastern RR. above.—V. 91, p. 1255, 1162.
Switching Rate Agreement at Chicago.—See full state¬
ment in “Railroad Age-Gazette” of New York for Nov. 18.
Terminal Railroad Association of St. Louis.—Suit.—See
St. Louis Merchants Bridge Term. Ry. above.—Y. 91, p. 39.
Tri-City Railway & Light Co.—Earnings —
ment with
Year ending
Sept. 30—
1909-10
Gross
>
Net
Bond.&c Sinking Pf. Divs. Balance
stock|for|deposit after Nov. 15 except by unanimous
consent of the committee and the Guarantee Trust & Safe
says:
Under the advice of counsel, we are now preparing to take active legal
proceedings, which, we confidently believe, will achieve substantial results,
and which. If successfully prosecuted, will add materially to the value of
tbe stock; but before proceeding further we give those who have not done
so this opportunity
of co-operating with us by depositing their stock at once.
New
elected
Officers.—H. G. Atwood of Chicago was recently
President, to succeed A. G. Winter, who resigned.
Edward S. Dunn of Philadelphia has been chosen Vice-President In place
Stone, resigned, and A. F. Seay, Secretary and Treasurer of the
company, has been elected a director to succeed Mr. Stone.
of H. W.
Sale of Du Pont Stock.—President Atwood has sent out
a
letter replying to criticisms
in regard to the sale of
against the former management
7,753 shares of Du Pont International.
He justifies the sale of the same to E. G. Buckner at $45 a share mainly
because It released an equity of $158,885 at a time when It was most urgently
needed, the stock having been out as collateral for loans at $20 to $30 per
share.—V. 91.
p.
520. 398.
American Smelting & Refining Co.—New Securities—
Further Facts.—As foreshadowed by the recent announce¬
ment of President
Guggenheim (see V. 91, p. 1327, 1329), a
special meeting of the stockholders will be held Jan. 5 1911
(1) to increase the authorized capital stock from $100,000,000
to $115,000)000, all of said increased stock to be common
stock, and to be deposited in trust to provide for the con¬
version of $15,000,000 6% 15-year gold debenture bonds to
be issued by American Smelters Securities Go.; and (2) to
ratify the action of the board in respect to the acquisition
and disposition of said $15,000,000 6% debenture bonds.
Right to Subscribe.—A circular dated at New York, Nov. 21
1910, offers, subject to said authorization, to holders of the
pref. and common stock of this company, as of record at
3 p. m. Dec. 15 1910, the
privilege to subscribe, at par (with
an adjustment of accrued
interest), on or before Feb. 1 1911,
on the company’s warrants (issuable as soon as
practicable
after Dec. 15), for an amount of said 6% gold debenture
bonds of the Securities Company equal to 15% of their
respective holdings. The company has arranged with
Kuhn, Loeb & Co. to underwrite the subscription of the
entire issue.
The circular (see advertisement on another
page) further says in substance:
Said bonds will be of an authorized Issue of $15,000,000.
They will be
convertible at option of holder at any time prior to Aug. 1 1918 (or in
case of earlier redemption until 30 days prior to the redemption date) .into
fully paid shares of the common stock of Am. Smelting & Refining Co.
at par, provided that at the time when such bonds shall be offered for con¬
version the market value thereof shall be at least par.
On Feb. 1 1915,
or on any semi-annual Interest day thereafter, said bonds are to be subject
to redemption by the Securities Company as a whole, or to redemption In
Sart by but
the any
sinking
fund,
at 105% and
int. may
whenbedrawn
90 days*
notice,
bonds
so on
called
during
the conversion
period
con¬
Interest. Fund.
Surplus.
Earnings. Earnings.
(6%).
$2,380,190 $1,002,059 $477,227 $50,000 $169,572 $305,259
1908-09
1,973,756
857,968 463,806 50,000 169,572 174,589
—V. 91, p. 590, 338.
y lot;
verted
The
Feb. 1
Union Pacific RR.—Consolidation of Subsidiaries.—See
Oregon-Washington RR. & Nav. Co. below.—V. 91, p. 1153.
being payable on Aug. 1 1911. Both principal and interest will be payable
S. gold coin without deduction for any tax.
Denominations $500 and
$1,000 (c*). The Securities Co. covenants not to create any bonds, deben¬
tures or mortgage, nor to make any pledge of the holdings of the stockfof
any of Its subsidiary companies now or hereafter owned which shall take
precedence over said convertible bonds. The Securities Company will also
maintain for the redemption of the bonds a sinking fund of at least $500,000
per annum, the first payment to be made on Feb. 1 1912, with the option
at any time to Increase said amount In excess of $500,000 per annum.
All bonds so retired to be kept alive and the Income thereof added to the
sinking fund.
Price 0/ Subscription for the Bonds Payable in New York Funds.
Wilmington (Del.) Newcastle & Southern Ry.—Fore¬
closure Sale.—The foreclosure sale of the line between 'Wil¬
mington and Newcastle under the first mortgage of the
Wilmington & Newcastle Ry. of 1896 for $150,000 is to take
place on Dec. 23.—-V. 91, p. 1162, 872.
/ Winnipeg Electric Ry.—Listed.—The London Stock Ex¬
change in September last listed a further issue of £200,000
43^% perpetual consolidated debenture stock, making the
total listed £500,000.
The 4 }4% perpet. consol, debenture stock Is Issued under trust deed In
favor of British Empire Trust Co., Ltd., as trustee, subject only to $1,000,000 5% mortgage bonds of Win. El. St. Ry., due Jan. 1927, and $4,000,000
5% mortgage bonds of Winnipeg El. Ry., redeemable In 1935. The capital
Stock auth. and Issued Is $6,000,000 In $100 shares.—V. 90, p. 561.
Winston-Salem Southbound
RR.—Completed.—The last
spike in this road, extending from Winston-Salem, N. C., to
Wadesboro, 88 miles, jointly owned by the Atlantic Coast
Line RR. and Norfolk & Western
Ry., was driven on Nov.20.
The road is expected to be placed in operation next month.
—V. 90, p. 448.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Alabama Consolidated Coal & Iron Co —NewDirectors.—
Douglas H. Gordon, President of the International Trust Co.
of Baltimore, and Joseph Levering of Baltimore, have been
elected directors to fill vacancies.
Earnings.—For the 9 months ending July 31 1910, net
earnings are currently stated as $178,000, which is sufficient
to
pay
fixed charges and sinking fund (about $137,000 alto¬
gether) and leave $61,000.
No statement of earnings for the months of August, September and
October has been Issued, but it Is reported that President Hoadley claims
the net earnings for the year ending Oct. 31 are In the neighborhood of
$250,000. The amount over the sum needed for fixed charges. It Is ex-
Eected, will be sufficient to pay the dividend on the $1,250,000 7% cumu-
itlve pref. stock (calling for $87,500), but It Is stated will be added to sur¬
plus account.
J. W. Mlddendorf, of Mlddendorf; Williams & Co., and E. N. Rich,
members of the committee named to protect the Interests of the minority
stockholders, represented the Interests of minority stockholders at the
annual meeting this week.—V. 91, p. 590.
American Hardware Corporation, New Britain, Conn.—
New Officers.—Col. Charles M. Jarvis, formerly Vice-Presi¬
dent, has been elected President to succeed the late Philip
Corbin.
Charles H. Parsons becomes Vice-President to
succeed Mr. Jarvis.
Philip Corbin II. has been chosen a director of the P. & F. Corbin Co.,
the subsidiaries.—V. 91, p. 91.
one of
American Milling Oo.—Time for Deposits.—The stock¬
holders’ protective committee (V. 91,p.520) recently gave
notice that the committee had decided not to receive any
Into stock.
bonds will be payable on Feb. 1 1926 and will bear interest from
1911 at the rate of 6% per annum, payable F. & A., the first coupon
in U.
Par $500.
Par $1,000.
At subscription, on or before Feb. 1 1911
On Feb. 20 1911 (19 days’ Interest included)
$250 00
$500 00
250 79
501 58
Subscriptions may, however, be paid In full at time of subscriptions
on or before Feb. 1 1911, In which case the amount payable will be $500
for a $500 bond or $1,000 for a $1,000 bond.
The warrants must be re¬
turned to this1 office [165 Broadway. N. Y.] on or before Feb. 11911,accom¬
panied by the payment of the first Installment or the full amount payable.
Explanation of Plan by Pres. Daniel Guggenheim, New York, Nov. 171910.
Interdependence of the Two Companies.—This company Is the owner of
$17,751,000 out of a total of $30,000,000 of
common stock of the
American Smelters Securities Co.
It Is the guarantor of the $30,000,000
of Series “B" pref. stock of that company.
It Is a large creditor of the
The prosperity of the two companies Is, therefore,
interdependent. The funding of the Indebtedness of the Securities Com¬
pany Is, therefore, of Importance to both.
At the time of the organization of the Securities Company In 1905, your
directors foresaw that the enlarged production of ores would require a vast
expenditure of capital In order to smelt and refine such Increased product.
The Securities Company was successfully organized without the expenditure
of any capital on the part of the Am. Smelting & Refining Co., and notwith¬
standing the enlarged operations of the Securities Company there has been
no necessity of payment, even of a single dollar, by your company In the
discharge of Its obligation as guarantor of the Series “B” pref. stock of the
Securities Company.
The wisdom of this policy Is shown by the fact that,
while the product of your company at the time of the organization of the
Securities Company had reached a total of approximately $80,000,000 per
annum, the annual value of the products of both companies to-day aggre¬
gates $190,000,000.
(See V. 91, p. 1327.)
Plans for Further Development .—The time has now arrived to prepare for
a further Increase and development of the business.
Plans have accordingly
been devised, particularly In respect of the receipt of ores and furnace ma¬
The reduction works, located In the United States
terial from abroad.
by reason of their enormous capacity,' are capable of smelting and refining
ores shipped from every quarter of the globe.
This company Is now In
Securities Company.
receipt of ores and bullion from Africa, Australia, South America. Spain,
As yet. It Is only feas ble
Japan. Central America, China and Alaska.
to transport Alaskan ores produced on the seacoast, but with the construc¬
tion of railroads. It Is believed that a great mineral production will flow
[from Alaska] to the smelting and refining plants of this company.
Financial Plan.—To prepare adequately for the future of this company,
and to fund the debt of the Securities Company, It Is deemed advisable that
the Securities Company shall Issue and your company acquire $15,000,000
of 6% 15-year gold debenture bonds of the Securities Company; that the
latter company shall thereby repay the advances made to It and discharge
Its floating debt; that the bonds so acquired by this company be made con¬
vertible Into the common stock of this company.
Through the expected ultimate conversion of the bonds Into common
stock and the operation of the sinking fund, the Smelting Company should,
as a result of this transaction, receive approximately $15,000,000 additional
cash capital, which, with the present cash capital, will make a total of
approximately $27,000,000 cash. The ores and metals In process of smelt¬
ing and refining now held by the company, together wth the present In¬
vestments and tne necessary stock of fuel, &c., aggregate at least $23,000,000
It can, therefore, be confidently expected that the cash assets of the
company will equal $50,000,000, and that the pref. stock of the company
will nave Its entire face value offset by cash and quick assets.
The com¬
mon stock will be represented by the property account of $86,000,000,
t
which should be added the value of the $17,751,000 par value of the 00m-
Nov. 26
THE CHRONICLE
1910.]
stock of the Securities Company.
Such bonds as remain In the treas¬
of the company not retired by the sinking fund will receive 6% Interest.
Outlook.—It Is believed by the directors that the holders of the pref. and
common stock will profit greatly by carrying out this plan.
The Increase
of business, and the Increasing value of the stock held by It In the Securities
Company, should assure not only the payment of the 7% dividends on the
pref. stock, but should enhance the dividend-earning power of the common
stock.
See also V. 91, p. 1327, 1329.
mon
$1,250,000 pref. stock, payable Dec. 10 to holders of record
Nov. 30.—V. 90, p. 1241.
Central Leather Co.—Common Stockholders Request Divi¬
dends and Representation.—J. S. Bache & Co., in behalf of
themselves and other holders of common stock, have re¬
quested the directors to make some distribution thereon, as
earnings justify the declaration of the same.
ury
Arkansas Natural Gas 0o.f Pittsburgh, Pa.—Bonds Of¬
fered.—Chas. S. Kidder & Co., Chicago, are offering the
unsold portion of $4,000,000 serial mtge. 6% gold bonds,
dated May 1 1910 and due in ten series of $400,000 each,
A to J, yearly on May 1 from 1913 to 1922, incl., but callable
on any int. date at 105 and int.
Prin. and int. (M. & N.)
payable at the Colonial Trust Co., trustee, Pittsburgh, or
the Central Trust Co. of Illinois, Chicago.
Circular shows:
It Is also requested that two or three directors be named to represent the
stock, It being stated that the present members of the board are
The board, It Is reported, Is of the
opinion that the election of directors Is a matter for the stockholders to
deal with at their annual meeting In February next, the board having no
power to choose directors except to fill vacancies.—V. 91, p. 1173., 561, 558.
common
Interested principally In the preferred.
Childs (Restaurant) Co., New York.—Dividend Increased.
—A regular quarterly
on the common stock
dividend of 2%% has been declared
(approximately $2,500,000 now out¬
standing), payable Dec. 10 to holders of record Dec. 3. This
increases the annual rate to 10%, contrasting with 8% from
June 1909 to Sept. 1910 and 6% from Dec. 1907 to March
1909.
The company began business in July 1902.
Capitalization.
Capital stock [In 3100 shares, aU of one class.—Ed.]
36,500,000
Serial mtge 6% gold bonds, total auth., 35,000,000; outstand’g. 3,730,000
Reserved to retire bonds of old company (see V. 91, p. 1329)._..3270,000
Reserved for extensions, &c., as provided by trust
deed.
1,000,000
The company owns a pipe line extending from the Caddo gas and oil
fields, In Louisiana, northwest through Arkansas, together with the gas
rights on 165,000 acres of land, Including 17 wells with a capacity of about
300,000,000 cubic feet open flow per day. This line will supply the cities
of Little Rock, Pine Bluff, Hot Springs, Arkadelphla, Hope, Malvern,
Prescott, Benton, Gurdon and some smaller places, having an aggregate
population served of over 150,000.
Abstract of Letter from Pres. J. C. Trees, Pittsburgh, Pa., Oct. 20 1910.
This company owns the gas rights on 165,000 acres In Caddo Parish, La.,
on which there are now 17 wells drilled In with a capacity of approximately
300,000,000 cubic feet a day.
The developed field from which the supply
for this plant Is to be obtained lies principally In Caddo Parish, La.
This
field Is without a parallel In the world to-day, while Its distance from large
markets will tend to long life.
Shreveport, La., has been supplied for four
years, and during the last two years lines have been laid to Texarkana and
Marshall. Tex.
Gas Is found In three to five distinct horizons. At from
800 to 1,000 ft., at 1,800 ft. and at 2,200 ft. and lower, one of the very large
wells of the district being In the 2,300 ft. stratum.
The oil and gas sands
of the district seem to be entirely distinct and separate, while the wells
have a dally open flow capacity of from five to sixty million cubic feet.
Taking Into account the reports of the geologists of the United States
Government and those of the State of Louisiana, as well as those of our own
engineers and experts, I believe that the natural gas In that portion of the
Caddo fields In which this company draws Its supply to be practically In¬
exhaustible, In our generation at least.
The main pipe lines consist of 65 miles of 18-lnch, 99 miles of 16-lnch, 68
miles of 12-lnch and 27 miles of 10-inch steel pipe, one 2-1,200 h. p. com¬
pressing station, telephone lines, rights of way, as well as distributing plants
In towns now not piped for gas, lying near the route of the main pipe line.
The capacity of the pipe line Is approximately 40,000,000 cu. ft. per day,
with a maximum yearly earning capacity of 32.100,000.
The company’s
wells now have a producng capacity of 300,000,000 cu.ft. per 24-hour day,
or nearly eight times the maximum output required for the present line.
Franchises without burdensome restrictions and running for 30 years have
been secured In all the cities proposed to be furnished with gas.
Estimated Yearly Earnings.
1st Year.
Gross
All operating expenses
Interest on bonds
Retirement of bonds
240,000
Net surplus
3d Year.
240,000
240,000
400,000
-
ending—
Sept. 30 1910
Gross
Earnings.
Net {after
Bond
Taxes).
Interest.
3360.318
3191.980
pref. auth. stock, to take over various tobacco concerns
The company will make a feature of cigars and
cigarettes.
cum.
in Cuba.
Among the Incorporators
(6%)
318.000
p.
and directed them, to continue work on such contracts as
are worth completing. Pres. JohnM. Cornell opposed the sale.
The receiver’s report as of Oct. 1 showed quick assets (exclusive of
plant and equipment) aggregating 3530,492 (chiefly stock on hand, 3131,463; work in progress, 3126,946; accounts receivable, 3240,421, and cash,
33,093), and receiver’s liabilities, 3346,289, Including 3200,000 receiver’s
certificates.
The company’s bonded debt Is 3660,000 (U. S. Mtge. A Trust
Co., mtge. trustee), unsecured debt about 3750,000.
When the receivers
took possession there was only 3420 cash on hand and the contracts for
work aggregated 31,500,000.—V. 88, p. 824.
Total.
Crucible Steel Co. of America.—Earnings.—The net earn¬
ings for October are reported as slightly in excess of $300,000.
The company is stated to be operating to the extent of about
70% of its capacity.—V. 91, p. 1256, 1097.
Cumberland Coal & Coke Co.—Sale.—Judge E. T. San¬
720,000
400,000
ford of the Federal Court has ordered the sale of the
Surplus,
3111.480
1329.
April 30
is quoted as
General Motors
Gum Supply Co.—Bonds Called.—$6,000 1st M. 10-year
6% bonds have been drawn for payment by lot at 105 and
interest on Dec. 1 at the Empire Trust Co., 42 Broadway,
New York.—V. 89, p. 1671.
Harbison-Walker Refractories Co., Pittsburgh .—Report.—
Sept. 30
on
profits after interest on 33,500,0001st M. 6% bonds, 3832,530; dlvldehds
pref. stock, 3320,833; balance, surplus, 3511,697.—V. 91, p. 719,,1337^
Canadian Cereal A Milling Co.—First Dividend.—An ini¬
tial
quarterly dividend of 1%% has been declared
on
the
Bond
Pref. Divs.Com. Divs. Balance;
(6%)
(1 H%)
Surplus.
388,875 3576,000 3270,000
3932,871
119,187
575,379
682,027
Interest.
.
tion.—The accused defendants having entered pleas of nolle
contendre (the substantial equivalent of pleas of guilty) to
the indictments found on April 7 last, charging violation of
the Sherman Anti-Trust Law, Judge Young in the United
States Circuit Court at Pittsburgh on Nov. 11 imposed a
fine of $2,500 and costs on the corporation and fines of $500
Canadian Oar & Foundry Co.*—Report.—The earnings for
ending Sept. 30 were:
0acji
the 11 months
Profits.
Imperial Window Glass Co., Pittsburgh.—Fines—Liquida¬
Balance,
Aug. 31—
Earnings.
A Taxes.
Earnings.
Interest.
Surplus.
1909-10
31.701,742 3676,783 31.024,959 3376,077 3648,882
1908-09
1,577,663
630.892
946,771
346,986
599,785
Miller & George of Providence, R. I., are offering at par and Interest a
block otthe Billings A Eastern Montana Power Co.-Butte Electric A Power
Co. Joint mtge. 6s. due June 1 1934.—V. 90, p. 561.
Net
Deprec'n,
Rejyrs.Ac.
1909-10.32.073,341 3205.595
1908-09. 1,526,879
150,286
—V. 90, p. 505.
Year—
Oo.—Earnings.—
Bond
Co., New York.—Additional Directors.—
Grand Trank Pacific Development Co.—See under “Grand
Trunk Ry.” under “Annual Reports” on another page.—
V. 90, p. 306.
.
Net
of
The executive committee consists of W. C. Durant, Emory W. Clark,
M. J. Murphy, Thomas Neal, Andrew H. Green Jr., James J. Storrow and
Albert Strauss.
Mr. Storrow has been elected President and Mr. Durant
and W. J. Mead, Vice-Presidents.
C. P. Hathaway has been re-elected
Secretary and Treasurer.—V. 91, p. 1387.
has been a large Increase In the total consumption of fish In the
United States.
High prices for meat may have caused people to buy more
fish, but I am of the opinion that the increase Is due In greater measure to
the general Improvement In the quality of fish and oysters.
We have con¬
sidered It a more profitable policy to sell fish even at a poor price than to await
a better market by holding fish In cold storage, at a
possible sacrifice of
quality. In this matter we have reversed the policy of the old company.
While our company Is the biggest In the fish business. Its competitors
are many.
For Instance, the Pacific coast fisheries yield 75,000,000 pounds
of halibut a year.
We catch about one-third of this In our own boats and
market a little over half of the total.—V. 90, p. 1492.
Expenses
Surplus.
3113,349
106,338
Wallace, President of the Central Trust Co. of New York.
There
Gross
Balance,
To the board already announced (Y. 91, p. 1387) there have
been added Emory W. Clark, M. J. Murphy, Thomas Neal
and Andrew H. Green Jr., all of Detroit, and James N.
Co.—Status—Earnings.—President Lett
Butte Electric A Power
Paid.
375.743
65,325
“The company has a large amount of business on hand and the outlook Is
excellent, and this has required the use at present of all Its capital and earn¬
ings.
It was the concensus of opinion among the directors that under the
circumstances It would be wise to suspend dividends for the present.”
[There Is outstanding 32,637,500 pref. stock, on which dividends at the rate
of 8% a year have been paid quarterly since Oct. 1 1903.
The common
stock, 34,999.600, received 2% annually In December from 1906 to 1909.]—
V. 85, p. 1579.
saying:
Year ending
Interest
Electric Boat Co.—Official Statement as to Omission
October Dividend.—President Isaac L. Rice says:
Companies.—Agreements.—The “Coal
published the following:
The profits which we have spent for Improvements will shortly prove the
wisdom of making these expenditures rather than paying dividends.
At
Seattle we have just completed a refrigerator plant at a cost of 365,000
which we believe will save 325,000 yearly In reduced freight bills.
Last
spring we added 4 new tugs to our Lake Erie fleet.
In one Western city
we formerly paid 318,000 to 320,000 a
year for power In the operation of a
refrigerator plant.
We recently completed there a plant of our own at an
expense of 37,000, which will cost 36,000 a year to run, and we are no
longer paying rent.
Gross
Operating
Net
Earnings. Expenses. Earnings.
3217,654 3189.092
138,739
171,663
Year—
1909-10
——3406,746
1908-09
310,402
—V. 90, p. 1616.
(Nov. 16.) An agreement has been reached In the Crooksville district
of Ohio and between 6,000 and 7,000 men who had been on strike since
April returned to work last week. The Interests could not agree upon cer¬
tain local points and so the trouble continued there long after operations
had been resumed elsewhere In the State.
The operators have agreed to
have the questions In dispute settled by arbitration.
(Sept. 21.) Representatives of the miners in the southwestern field rati¬
fied on Sunday night the agreement made with the operators and the men,
returned to work on Tuesday.
According to the new agreement, the miners
receive an increase of 5.55% on day work, dead work and yardage, an In¬
crease of 3 cts. a ton on shooting coal and of 5 cts. a ton on long wall work.
All future differences are to be settled by W. L. A. Long, Mine Inspector
of Kansas.
In future, when the operators close a mine they shall pay the
men a dollar a day each, and the miners agree to
pay the operators 50 cts.
a day for the time they cause a mine to be closed.
The strike began more
than five months ago.—V. 91, p. 655.
Booth Fisheries
com¬
pany's properties in Cumberland County, Tenn., along with
$100,000 bonds of the Bon Air Coal, Iron & Coke Co., and
$20,000 stocks owned in other companies.—V. 77, p. 453.
Economy Light & Power Co., Joliet, HI.—Report.—
Atlantic Fruit Co., New York.—New Director.—Charles
M. Hart of Canada has been elected a director, succeeding
W. H. Bennett.
Compare V. 91, p. 1330.
Bituminous Coal
Trade Journal” has
R. R. Govln, of H. B. Hollins A Co. (who Is
J. B. & J. M. Cornell Go., Structural Iron and Steel Con¬
tractors, New York.—Not to Be Sold.—Judge Hough on
Nov. 22 declined to permit the receivers to sell the property,
Nov. 30 1908
291,433
151,154
34,950
116,204
Preferred stock outstanding, 3300,000; common stock, 31,250,000, and
bonds, 31.250,000.—V. 91,
are
director of the Havana Tobacco Co., which is controlled by the American
Tobacco Co., and other Cuban concerns engaged In the manufacture of
cigars); George P. Butler and William H. Butler. Mr. Govln states that
the new company will be Independent of, although not antagonistic to, the
American Tobacco Co.
feg
a
Pref. Divs. Balance.
362.500
8H
Compania Nacional de Tobacco.—New Company.—The
City (N. J.) Electric Co.—Earnings.—
12 Months
1910.
company was incorporated in South Dakota on or about
Nov. 16, with $10,000,000 common and $5,000,000 7% non-
3370,500
3513,500
3243,500 31.127,500
the hands of men of large experience In the opera¬
(Compare V. 91, p. 1329.)
The management Is In
tion of such properties.
Atlantic
2d Year.
Dividend Record (Percent) of Common Stock.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1H
3
3
3^
4H
5X
6
7X
—V. 90, p. 1615.
3835,500 31.003.500 31,133,500 32,972.500
3250,000
3225,000
3250,000
3725,000
earnings
1449
on
each of the
The company Is in
individual defendants.
"V.L'dii
,
-
prooess of liquidation, and as soon as Its stock of glass
to surrender ItsWest Virginia charter. Attorney-tr
General Wlckersham on the evening of Nov. 16 Issued a long statement
regarding the matter, which was given In the dally- papers of the following
day.—V. 90. p. 979.
■
On hand Is sold proposes
1450
THE CHRONICLE
Independent Brewing Co., Pittsburgh.—New Directors
Inger soll-Rand Co., New York.—A cquisition.—The
.
com¬
the stock of the
plant is located
River, New York.
The Cameron company has outstanding $1,000,000 stock, all of one class.
No bonds or mtge.
Its officers are: President, George Doubleday; Secre¬
tary, F. H. Bralnerd; Vice-President and Treasurer, W. R. Grace; VicePresident and Gen. Mgr., Geo. W. Fuller.—V. 91, p. 1388, 1099.
International Agricultural Corporation, New York.—Sale
of Preferred Stock.—The company has sold to White, Weld
& Co., New York, and associates,
$5,400,000 7% cum. pref.
stock voting trust certificates.
The cash derived from this
sale has been applied to payment for
properties, modernizing
plants and working capital. Application will be made to list
the company’s stocks on the New York Stock Exchange.
The company was Incorporated In N. Y. In July 1909 and owns a number
of fertilizer-manufacturing plants In Tennessee, all the capital stock of the
Kallwerke Sollstedt Gewerkschaft Potash Mines in Germany, a contract
with the Tennessee Copper Co. for an ample supply of sulphuric acid for
and large deposits of phosphate rock In Tennessee, and all the
capital stock of the Prairie Pebble Phosphate Co. In Florida, one of the
most extensive and valuable phosphate deposits in the country.
Capitalization—
Authorized.
Outstanding.
Pref. stock, 7% cum. (pref. as to assets and divi¬
dends (J. & J.)
$12,000,000 $10,124,000
Common stock
12,000,000
5,928,000
For the year ending June 30 1910 the net earnings available for dividends.
It Is stated, were $1,017,504.
Several of the larger properties were not
paid for until the middle of the fiscal year; therefore tne amount required
for dividends on pref. stock for the year 1909-10 was $437,271, Instead of
the full $708,680 on the present $10,124,000.
As the company did not
operate these properties for the full 12 months.lt received the earnings jonly
to the period of actual operation.
The transfer agent for both Issues of voting trust certificates is the Bank¬
ers Trust Co. of New York.
Registrar, First Nat. Bank, New York.
Directors: Waldemar Schmidtmann, President, and William N. Shaw,
Albert French and T. C. Meadows, Vice-Presidents of company; Thomas
W. Lamont, Vlce-Pres. First Nat. Bank, N. Y.; A. H. Wlggln, V.-P. Chase
Nat. Bank, N. Y.; Chas. H. Sabin, V.-P. Guar. Trust Co., N. Y.; Benj,
Strong Jr., V.-P. Bankers’ Trust Co., N. Y.; Francis M. Weld of White,
Weld & Co.. N. Y.—V. 91, p. 97. 41.
some years,
Island Creek Coal Co., Boston.—First Dividend.—This
company, successor of the U. S. Coal & Oil Co. (V. 91, p.
948), has declared a first dividend of $1 50 per share upon
the
outstanding 50,000 shares of pref. capital stock, payable
Jan. 2 1911 to stockholders of record Dec. 15 1910.
There
100,000
common shares outstanding.
Hayden, Stone & Co., Boston, New York, &c., have Issued a circular
regarding the cumulative preference shares In which they say: ‘‘The pref.
shares are now quoted at about 85, and at that price return about
7%.
Already the net earnings from the coal business have been raised to a level
In the recent fiscal year of about $450,000, or
50% above the amount re¬
quired to pay dividends on this Issue of preferred stock: the outlook is that
profits for the current fiscal year will exceed those of the fiscal year recently
closed by some $100,000 or $150,000.
Compare V. 91, p. 948, 1163.
are
Jersey City (N. J.) Water Supply Co.—Decree Filed.—
Vice-Chancellor Stevens
on Nov. 17 filed the final decree of
the Court of Chancery fixing the terms of the
purchase by
the city under the Flynn contract.
The decree specifies the deductions (amounting to $103,000) to which the
city Is entitled from the original contract price of $7,595,000, an additional
$58,300 to be also deducted unless a bond be given or other provision be
made for the construction of the Boonton sewer.
The city under a previous
decree of the Court is entitled to retain a further amount of
$500,000, but
the company may file a supplemental bill to recover this
latter amount
whenever in its judgment the amount shall be payable by the
city. Com¬
pare V. 90, p. 1298, 630.
Keokee Consolidated Coke Co.—See
Co. in V. 91, p. 1332.—V. 89, p. 414.
Stonega Coal & Coke
Long Acre Electric Light A Power Co.—Re-argument
Denied.— The Court of Appeals at
Albany on Nov. 22 denied
the application of the Public Service
Commission, First Dis¬
trict, for
a
re-argument of the appeal of the Public Service
Commission from the decision of the lower
courts, which re¬
versed the Commission in their denial of the
company’s appli¬
cation to issue any part of the proposed
sue and $10,000,000 stock.—V.
91,
p.
$50,000,000 bond is¬
875.
McCrum-Howell Co. (Radiators, Enameled Ware, Vacuum-
Cleaning Systems, Ac.), New York.—Pref. Stock Offered.—
The company’s fiscal agents (George H, Burr &
Co., N. Y.)
and associates have recently been
receiving subscriptions
for the unsold portion of
$1,150,000 7% cumulative pref.
stock at par ($100 per share) and accumulated
dividends
from Nov. 1 1910, with a bonus of
10% of common stock.
Subscriptions are received by George H. Burr & Co., N. Y., Chi. and St.
Louis; Coggeshall & Hicks, N. Y.; Colston, Boyce & Co.,
Balt.; Gavet &
Porter, Bost.; Scully, Painter & Beech, Pittsb., and Francis R. Cooley,Hart.
Abstract of Letter from Pres. L. G. McCrum, New
York, Nov. 1 1910.
New Stock.—The company has authorized an additional
$2,000,000 of
7% cumulat ve pref. stock, all of which Is to be Issued
Immediately, making
total capitalization of pref. stock, $3,500,000; common
stock,
$3,500,000.
Of this new Issue, $850,000 Is to be used*for the
purchase of the Model Heat¬
ing Co., Philadelphia; American Air Cleaning Co., Milwaukee; CameronSchroth-Cameron Co., Chicago; Vacuum Cleaner Co., New York, and Sani¬
tary Devices Co., San Francisco.
The proceeds from the sale of the balance
of this Issue ($1,150,000), together with the
liquid assets of the companies
now acquired, as shown above, Increases
our net working capital from
$1,077,811 as of May 1 1910 to $2,408,597, which amount provides
working capital and effects a saving of $65,096 In Int. on borrowed ample
money.
Earnings.—For the first six months of the current fiscal
year, beginning
May 1 1910, our volume of business, as shown by actual
shipments,
has In¬
creased 88%.
Orders on hand are larger than at any previous
period.
Net Earnings Jor Fiscal Year ended May 1
1910; Aggregate $640,196.
[Included In this amount Is $65,096 Interest on money borrowed last
year,
which charge Is now eliminated by
the new cash capital.]
McCrum-Howell Co
$444,8821 American Air Cleaning Co._ $44,469
Model Heating Co
56.125| Vac. Cl. Co and San.Dev.Co 63,431
Cameron-Schroth-Cam. Co_ 31,289|
Total of all
_$640,196
The above earnings ($640,196) are over
2H times the 7% dividend re¬
quirements ($245,000) on the entire Issue of $3,500,000
pref. stock. As our
pref. stock outstanding for the current year will average
only $2,500,000,
dividend requirements for same will be but
$175,000, leaving $465,191
applicable to the common stock, or over 13%. These figures do not take
into consideration profits from our
large Increase In business for the current
year; reduction In overhead expense of the companies
taken over; nor manur
factoring profits (say, $107,061 for the past year) on goods heretofore
pur¬
chased by the Model and the Cam.-Sch.-Cam. Co. from
our competitors
a
T.itrri
five years ending May 1 1909 our preferred capitalization was
$600,000, and our earnings thereon averaged per annum 20.21%;
the fol¬
lowing year (1909-10) our pref. capitalization was increased
to $l,500,0t00
and our earnings amounted to
26.07% on the same.
Organization.—The company is one of the largest corporations
engaged
in the manufacture of
radiators, boilers and enameled ware in the United
States, and Is the largest manufacturer of
vacuum-cleaning systems In the
world.
The company’s product,
widely known and distributed under the
Richmond” traae-mark throughout the United States and
Canada.
The
property consists of five modern plants.
The men most responsible for the
8Mc£es?
ot the flve companies now taken over will be actively associated
w*th the
Orlando Miller and J. H. Friday have been elected directors
to’succeed J. H. Shaffer and Peter Hermes, both deceased.—
V. 91, p. 1325.
pany has acquired a controlling interest in
A. S. Cameron Steam Pump Works, whose
at the foot of East 23d St., East
[VOL.
present management, which owns almost the entire
com. stock.
The Model Heating Co. of Phlla., established
1895, is one of the leading
jobbers of boilers and radiators In the East; Its net
earnings for the past
five years have
averaged $54,451 per annum. The Cameron-ScrhothCameron Co. of Chicago are Jobbers
radiators and enameled ware; com¬
of
menced business In Jan. 1909 and for
year ending May 1 19l0earned $30,530.
Cleaners.—During the past year our company has acquired a well-equipped
plant at Racine, Wls., where are manufactured the
^'Richmond” portable
suction cleaners, the sales of which to date
aggregate over 14,000 machines.
As regards stationary
cleaning systems, the American Air Cleaning Co. of
Milwaukee, the Vacuum Cleaner Co. of N. Y. and the Sanitary Devices Co.
of San Francisco (the three
companies now acquired) have for the past two
years been doing about 80% of the
vacuum-cleaning business of the United
States.
The McCrum-Howell Co. now owns
altogether some 85 vacuumcleaner patents, including not
only
the basic Kenney and Matchette, but
all other patents
necessary to the control of the stationary vacuum-cleaner
industry. The stationary vacuum-cleaning business, now In Its
Infancy,
has demonstrated Itself to be as
essential to comfort and health as steam and
hot-water
heating and sanitary plumbing.
Combined Balance Sheet.
[Introducing
assets and liabilities of the several
companies as of
as adjusted after the sale of
the new Issue of preferred
May 1 1910
stock.]
Assets ($7,425,686)—
Plants, patents, &c
Liabilities ($7,425,686)—
$5,017,089 Preferred stock
$3,500,000
Cash, after deducting cur¬
Common stock
3,500,000
rent liabilities
462,506 Surplus
333,186
Accts. & bills receivable-_ 1,157,629 Reserve
92,500
Materials, supplies, &c._
788,462 (No bond or mortgage.)
Capital Stock, <fec.—There is no bonded or mortgage
indebtedness, and
no bonds can be placed
upon the property except with the consent of 75%
of the total outstanding stock.
The pref. stock has equal voting power
with the common and Is preferred both as to
assets ana dividends.
The
pref. dividends are cumulative at the rate of 7%
per annum, payable quar¬
terly, Q.-F.
Full preferred dividends have been paid
regularly every year
since the organization, and the 26th consecutive
quarterly pref. dividend
was paid Nov. 1 1910.
Dividends on the common stock are at the rate
of 3% per annum and payable
quarterly. Registrars of stock. Trust Co.
of America, N. Y., and Continental &
Commercial Trust & Savings
Chicago. Transfer agents. Trust Co. of Am., N. Y., and George H.Bank,
Burr
& Co., Chicago—V. 91, p. 1331, 1163.
Manufacturers’ Coal A Coke Co., Tunnelton, W. Va.—
Sale Dec. 1.—The foreclosure sale is advertised for Dec. 1
under order from U. S. Circuit Court for Nor. Dist. of W. Va.
The property (located about 1 mile from RR.)
comprises 910 acres of
leaseholds of surface and coal lands, with machinery,
sidings, &c.; also
adjoining the foregoing, 4,823.66 acres of Freeport or Austin and Lower
Kittanlng or Newburg seams of coal, situate In Preston and Taylor counties,
W. Va.
Wilson D. Althouse is receiver, 424 Stephen Girard Bldg., Phlla.
Mexican Petroleum Co., Ltd. (of Delaware), Los
Angeles.
—First Dividend on Common Stock.—The directors on Nov. 16
declared the first dividend on the common stock, $1 a share,
for-the quarter ending Dec. 31 1910.
E. L.
Doheny is Pres.
The auth. common stock Is $38,000,000, of which some $29,800,000
Is
said to be outstanding (a transcript of the list of the Los Angeles Stock Exch.
$27,521,500); auth. pref. stock, 8%, $12,000,000; outstanding, $11,036,800 or more.
The “Los Angeles Times” says that the dividend now
declared will be paid out of the earnings of the Huasteca Petroleum Co.
Early In 1910 “Huasteca Oil Co.”, It was said,made a $2,000,000 mortgage.
It was reported on Oct. 29 that a contract had been signed between
Henry Clay Pierce, President of the Waters-Pierce Oil Co., and the Huas¬
teca Petroleum Co., calling for the delivery at the Waters-Pierce
refinery.
Tampico, of a minimum of 2,500,000 barrels of crude petroleum (at, it is
said, 95c. a barrel), the deliveries to extend over a period of five years;
1,000,000 barrels to be delivered as soon as possible and the remainder at
the rate of 200,000 barrels monthly.
It was rumored that $250,000 had
been paid in advance to the Huasteca Petroleum Co.
says
Condensed Extracts from Circular of R. B. Dickinson Co., Los Angeles,
October 1909 (Not 1910).
Controls about 700,000 acres of oil lands, 500,000 In fee simple, east and
south of Tampico, In the States of San Luis Potosl, Tamalulpas and Vera
Cruz, Mexico, Including 350,000 acres suitable for agriculture and cattle
In the neighborhood of Ebano approximately 20 wells have been
raising.
completed with a capacity of 14,000 bbls. per day; there Is now being with¬
drawn something less than 8,000.
Extensive development work Is being
constantly prosecuted. Approximately 2,600,000 bbls. per annum is be¬
ing delivered on a contract still having 11 years to run.
Production from
the Huasteca field, to be reached by the 100-mlle pipe line, will, It Is thought,
reach 10.000 bbls. per day within two years from this date.
The company
owns a modern asphaltum refining plant, capacity 800 bbls. per day.
An 8-lnch pipe line, to be 100 miles In length [completed in June 1910.—
Ed.] will extend from the wells In the Huasteca field to Tampico, where the
company has provided, on Its own frontage, ample shipping facilities by
rail and water.
Pipe lines aggregating about 40 miles, for both oil and wa¬
ter, have been Installed in and about Ebano, and the company owns a
7-mile railroad, connecting at Ebano with the Nat. Rys. of Mexico.
Steel
storage capacity, 600,000 bbls.; reservoir storage capacity, 600,000 bbls.
The company Is under long-time contract to supply the Mexican National
Ry. system with fuel oil to the extent of many thousand barrels per day,
which has, so far, taken most of the company’s production.
A large de¬
mand for the product will also be developed through the completion of a
modern gas plant In the City of Mexico, which is now being constructed
by closely affiliated Interests (Mexican National Gas Co.).
The Investment In development and equipment work. Including wells,
pipe line, storage, railroad terminal shipping facilities. &c., equals at the
present time fully $3,500,000, and with the completion of the 100-mlle
pipe line now building and the development work carried on prior to Its
completion, will amount to approximately $5,000,000. As yet the pro¬
duction comes from only about 8% of the developed area, and this devel¬
oped area Is scarcely 10% of the known area.—V. 90, p. 1047.
Mohican Oil A Gas Co.—Sale Dec. 21.—The foreclosure
Lie has been set for Dec. 21 at
Akron, O. Upset price,
1,750,000.—-V. 90, p. 917.
Montreal Light, Heat A Power Co.—Dollar Gas.—The
jmpany on Nov. 12 announced a further reduction of 5c.
sr 1,000 cu. ft. in the price of lighting gas.
The present rate Is $1 20 per 1,000 cu. ft.
less 15c. per 1,000 cu. ft. for
•ompt payment; the new rate Is $1 per 1,000 cu. ft. net for prompt payent or the same as the fuel rate.
The reduced price is nominally effective
from May 1911, but It will be put In effect at once for those who at their
pn expense remove the second (fuel gas) meter and make the proper
Nevada Consolidated
Copper Co.—Report.—
Bond
Maint.
Dividends
Interest. Cumb .-Ely.
(30%)
Balance,
Surplus.
$598,142
08-09.
JO-UI7.
X
174,791
1.646,062
590,599
2,061,870
—
During the year ending Sept. 30 1910 there were produced 62»f72,342
pt. 30
{ear.
Net.Oper.
Other.
Projits.
Income.
09-10.$2,345,382 $1,263,925
$26,999
$1,522 $2,982,644
,
Nova Scotia Steel A Coal Co., Ltd.—Bonds.—The London
Stock
Exchange listed
on or
about Oct. 19 the £300,000 5%
50-year 1st M. gold bonds, par £20, £100 and £500 (V. 90,
p.
1428, 1487).—V. 91, p. 792, 341.
NO?. 26 1910. j
THE CHRONICLE
Ltd.—Listed in London.—The London
Exchange recently listed £300,000 1st M. 6% bonds,
par £100 and £20 each.
O’Gar a Coal Co.—New Director.—Joseph Harris has been
elected a director to succeed A. B. Kerr and F. J. Lisman
in place of W. P. Ijams.—V. 90, p. 1169.
People’s Water Co., Oakland, Cal.—Annual Report.—
Ocean Falls Co.,
.Stock
Year ending Aug. 31 1910 and Cal. Year 1905 (Contra Costa Water Co.).
(Rates of 1910 prior to July 1 are 25% lower and after July 1 30% lower
1905.1
than In 1905.]
1905.
Aug. 31 ’10. Dec.31 ’05.
1909-10.
Miles
of pipe..
823
541
$954,762
Cash receipts.$1,489,285
Gals.sup.
dally18,992,450
14,620,000
619,350
Net after taxes
880,748
Reservoir
cap.
(?)
Fixed charges
828,350
(1,000 gals.)31,000,000
payable Dec. 1 to holders of record Nov. 19, comparing with
2% quarterly from March 1906 to Sept. 1910, inclusive.
Suit.—Henry Doscher of New York, owner of 100 shares
of United States Pipe Line Co. stock, in Aug. last brought
an action in the U. S. Circuit Court at Pittsburgh to prevent
the President and directors of that company from turning
over
the business to the Pure Oil Co.—V.
gated $2,989,292.
86, p. 1413.
Quincy (Copper) Mining Co.—Dividend Decreased.—A
quarterly dividend of $1 (4%) per $25 share has been de¬
clared, payable Dec. 19 to holders of record Nov. 26, com¬
paring with $1 25 (6%) paid Sept. 19 and June 20 last and
$1 50 (6%) in March last.
Compare V. 90, p. 508.
Annual Dividend Record (Per Cent) Since 1893,
7,791,535
1910: Pref. stock 6% cum., $2,000,000; com. stk., $18,000,000; underlying bonds, $5,600,000; gen. M. bonds, $6,967,000 (auth.
Issue $20,000,000, $7,433,000 being owned by the co. and $5,600,000 re¬
served to retire underlying bonds); floating debt, $2,611,770, on account of
extensions and additions which, from Jan. 1 1907 to Aug. 31 1910, aggre¬
Status Aug. 31
1451
’94
32
’95
’96
48
80
’97
48
’98
26
'99
38
’00
36
’01
36
*02
28
*03
*04
*05
22
20
24
’06
50
'07
54
*08
18
*09
16
*10
20
Acquisition.—The company has arranged to purchase for
$600,000,from the St. Mary’s Mineral Land Co., section 14
and northeast one-quarter of section 22, of which amount
$150,000 is payable in cash.—V. 91, p. 271.
Safety Car Heating ft Lighting Co.—Increased Extra
Dividend.—A regular quarterly dividend of 2% and an extra
dividend of 3% have been declared on the $9,862,000 stock,
payable Dec. 23 to holders of record Dec. 10, compared with
2% and 1% extra at the same time last year. The company
pays its dividends on April, July and Oct. 1 and late in Dec.
foregoing and other particulars appear in the 4‘Monthly
Digest of California Securities,” issued by Wakefield, Garthwaite & Co., 1st Nat. Bank Bldg., San Francisco.
New President.—F. C. Havens was recently elected (1) a
director in place of L. G. Burpee and (2) President, succeed¬
ing F. A. Leach, who became Vice-President.—V. 90, p.1106.
Pittsburgh (Pa.) Steel Co.—Sale of Pref. Stock.—Speyer
& Co., New York, have sold the entire issue of $7,000,000
Previous Dividend Record (Percent), Jan. Divs. Being Paid the Previous Dec.
7% cumulative pref. stock, which they offered at par ($100 DIVIDENDS. ’98-’00.
1901.
’02. ’03. '04. ’05. ’06. ’07. ’08. ’09. ’10.
a share).
8 yrly. 11&10 stk.
Their advertisement, however, is published as a Cash (%)
9 12 12 17 18 13
9
9
8
In July 1907 a 100% stock dividend was paid.—V. 91, p. 522.
matter of record on another page of to-day’s “Chronicle.”
St. Clair County (HI.) Gas ft Electric Light Co., East St.
The subscription list was opened on Wednesday, Nov. 23,
and was closed immediately as all the stock was sold. Louis, Ill.—$1 Gas.—On and after Jan. 1 1911 the price of
Application will be made in due course to list the pref. shares gas will be reduced from $1 05 to $1 net per 1,000 cu. ft.
on the New York Stock Exchange.
Compare V. 89, p. 668.
Abstract of Letter from President Wallace H. Rowe, Pittsburgh, Pa..
Schwarzschild ft Sulzberger Co., New York.—Merger.—
Nov. 9 1910.
On Sept. 6 1910 Sulzberger & Sons Co., being then the owner
Business.—The company manufactures open-hearth basic steel, blooms,
billets, bars, wire rods, bright, annealed and galvanized plain wire, barbed
of all the capital stock of Schwarzschild & Sulzberger Co.,
wire, wire nails, fence staples, colled spring wire, steel hoops, bands and
merged that company so that Sulzberger & Sons Co. then
cotton ties. It has the sole right In this country and Canada to manufacture
the “electrically welded” “Pittsburgh Perfect Fencing,” for which there Is
succeeded Schwarzschild & Sulzberger Co., with the same
a growing demand in all sections of the country.
The company’s products assets and the same liabilities as the latter
company, whose
are of a more staple character than those of most steel manufacturing con¬
business it continues.
cerns, and the earnings are not subject to so great fluctuations.
Our
Sulzberger & Sons Co. have $32,products go Into every State and Territory In the United States and we
000,000 of authorized capital stock in $100 shares, consisting
enjoys a good export trade. We have branch offices and depots in N. Y.,
of $20,000,000 common and $12,000,000 6% cumulative
Phila., Savannah, Galveston, Memphis, St. Louis, Des Moines and Chicago.
Properties.—The principal works are located at Monessen, Pa., and have preferred, of which there is outstanding all the common and
excellent rail and water connections
All buildings and machinery are
modern.
The plant was erected In 1901 and at present covers about 40
$5,269,500 of the preferred. The only funded debt consists
acres.
The real estate owned aggregates about 200 acres at the plants,
of $5,400,000 sinking fund 6% gold debentures of the
which Includes about two miles of frontage along the Monongahela River.
Schwarzschild & Sulzberger Co.—V. 90, p. 1048.
This gives us Ideal conditions for the assembling, manufacturing and ship¬
ment of our material.
The company also owns a coal mine on the Pitts. &
Southern Power Co.—Bonds Called.—Five ($5,000) 30-yr.
Lake Erie RR. and Monongahela River within two miles of the works.
Capitalization.—The company was organized July 1 1901 under the laws 6% bonds of the Catawba Power Co., issued under mtge.
of Pennsylvania and has an authorized capital of $7,000,000 common stock
dated Nov. 1 1903, have been drawn for payment at 105
(par value $100), whereof $6,000,000 Is outstanding and fully paid, and of
and interest on Dec. 1 at the Trust Co.of America, New York.
the remaining $1,000,000 common stock 10% will be paid in on or before
Jan. 5 1911, the balance being due In installments during the next 15 mos.
—V. 90, p. 855.
In order to retire the outstanding bonds, viz.; $3,250,000 1st M. 6% and
$500,000 gen. mtge. 6% gold bonds, and for the purpose of furnishing addi¬
Sulzberger ft Sons Co.—Merger.—See Schwarzschild &
tional working capital and funds for the Introduction of further economies
Sulzberger Co. above and compare V. 90, p. 1048, 981.
In manufacture, the company has decided to create $7,000,000 7% cumu¬
lative pref. stock, which has been sold to you.
The capitalization will then
Tennessee Copper Co., New York.—Bonds.—The share¬
be: 7% cum. pref. stock, $7,000,000, and common stock, $7,000,000.
holders on Nov. 18 authorized an issue of $1,500,000 6%
New Pref. Stock.—This pref. stock will be entitled to receive dividends
at the rate of 7% per annum (payable Q.-M.). No dividends shall be paid
1st M. gold bonds.
See V. 91, p. 1333.
upon the common stock until the dividends upon the pref. stock with all
accumulations shall have been paid In full, and upon liquidation or disso¬
Texas (Oil) Co.—New Director.—J. J. Mitchell, President
lution the pref. stock will be entitled to prior payment In full at par with the
of the Illinois Trust & Savings Bank, has been elected a direc¬
divs. accrued thereon; all remaining assets to go to the common stock.
The entire Issue of the pref. stock Is to be redeemable by the company, on
tor to succeed M. Moran, who retired.—V. 91, p. 960, 965.
any dividend date, at 120% of Its par value, together with all accrued divi¬
United Electric Securities Co., Boston.—New Collateral
dends thereon, upon three months’ notice, while the pref. stock Is out¬
standing, no mortgage shall be placed on the property, nor can theamount
Trust Bonds Offered.—Perry, Coffin & Burr and Parkinson
of the pref. stock be increased without the written consent of the holders
& Burr, Boston, are placing $500,000 collateral trust 5%
of at least 75% of the pref. stock outstanding.
Earnings and Dividends.—During the last six years dividends at the
bonds (31st series), due Feb. 1 1940, at 101^ and int.,
rate of 8% per annum were paid on the common stock then outstanding.
yielding 4.90%. A circular dated Nov. 12 says:
Net Earnings for the Five Years ended June 30 1910
*
The
[Before charging depreciation or Interest on Indebtedness to be retired
through the new preferred stock.]
1905-06.
1906-07.
1908-09.
Average.
1907-08.
1909-10.
$1,169,859 $1,225,769 $1,592,495 $1,673,735 $1,284,594 $1,389,290
The annual average, $1,389,290, Is almost equal to three times the annual
dividend on the $7,000,000 7% perf. stock, or to 19-8% per annum thereon.
Orders and contracts for this company’s products are at this date largely
in excess of the amount for the corresponding period of last year.
Directors (when Increased to nine).—Wallace H. Rowe, Pres.; John
Bindley. 1st Vlce-Pres.; Willis F. McCook, 2d Vlce-Pres.; Emil Winter,
Edward H. Bindley and George Nash (Gen. Supt.), all of Pittsburgh;
Wm. A. Nash, Wm. H. Nichols and Henry Ruhlender, New York.
Adjusted Balance Sheet of June SO 1910 as Prepared by Public Accountants.
[On the assumption that the proceeds of the $7,000,000 pref. stock and
$1,000,000 additional common stock were used to discharge indebtedness
and to create additional working capital.]
Liabilities ($19,067,OSDAssets ($19,067,931)—
Real estate, plant, Ac ..$13,036,481 Preferred stock
$7,000,000
Cash
459,981 Common stock, $7,000,Accts. & notes receivable
000, less $6,000 In treas. 6,994,000
1,460,372
853,399
Loans, advances & mlsc.
759,726 Time and demand loans.
Accounts
Subscripts new com. stk. 1,000,000
payable
927,671
Securities
330,000 Dividends unpaid
119,880
Finished products & supp. 1,904,546 Real est. bond and mtge.
30,000
Deferred charges
116,825 Surplus
3,142,981
Contingent liability, $273.300.—V. 91, p. 1388.
-
Price Brothers ft Co., Ltd., Quebec. ■Bonds All Sub¬
scribed.—The Farwell Trust Co. of Chicago announces that
the subscription books for the issue of $1,000,000 1st M. 5%
bonds, which were offered at 86 and int. (V. 91, p. 1332),
were closed on Nov.
16, the entire issue being over-subscribed, and that advices from London indicate that a
premium over the subscription price is bid for allotments of
bonds.—V. 91, p. 1332.
I Procter ft Gamble Co.—Increase of Stock Authorized.—The
stockholders on Nov. 22 authorized an increase in the com¬
mon stock from $10,500,000 to $12,000,000.
The $1,500,-
stock is offered to stockholders of record Dec. 10 at
at 200, payable between Dec. 12 and 31.
Compare
V. 91, p. 1163, 1098.
000
new
noon
Pure Oil Co.—Dividend Reduced.—A quarterly dividend of
has been declared on the $4,880,335 common stock,
1 y±%
This company has a record of 20 years of successful business.
It pays
7% annually on' $1,000,000, pref. stock, and showed on Feb. 1 1910 a sur¬
plus of $1,314,719.
It has issued, prior to the present offering, 30 series,
aggregating $18,000,000, of collateral trust bonds, of which amount $13,972,000 have been retired either by purchase in the open market or by
at 103 and int.
The directors are:
Gordon Abbott, Walter Abbott,
Samuel Carr, Wintbrop Coffin, Philip Dexter, Francis R. Hart. C. N. Ma¬
son, Robert Treat Paine 2d, Francis Peabody Jr. and N. W. Rice.—
V. 90, p. 241.
Utah
Consol.
Copper Co .-^Controlled Company.—See Nevada
Copper above; also under “Annual Reports” on a
preceding page.—V. 91, p. 1336, 522.
Wells Fargo ft Co. (Express).—Terms of Joint Control of
Mexican Express Co.—See National Railways of Mexico
report on a subsequent page.—V. 91, p. 1388, 1163.
Western Union Telegraph Co.—New Officers.—Theodore
N. Vail, President of the American Telephone & Telegraph
Co., which owns a substantial minority interest (understood
to be about $30,000,000) in the stock, has been elected Presi¬
dent to succeed Robert C. Clowry, who retires from active
service after more than 50 years’ service in the telegraph
business. Mr. Clowry remains a director and member of the
executive committee
Newcomb
Carlton, formerly con¬
nected with the British Westinghouse & Manufacturing
Co., has been named a Vice-President.—V. 91, p. 966.
1022.
—Attention is called to the offering by Porter, Fishback ft
Co., Chicago, of the 6% 1st M. bonds of the Harlingen Land
ft Water Co.
This is an irrigation enterprise situated at
Harlingen, Cameron County, Tex., about 25 miles from
Brownsville and the Gulf, crossed by the ’Frisco Ry. system.
Particulars regarding the security behind the bond isstie will
be found in the advertisement on another page.
This bond
issue is for the extension and increase of the company's
business. A descriptive circular will be mailed on applica¬
tion.
1452
THE CHRONICLE
[VOL.
LXXXXI.
Spurts and gnntmruls.
FERROCARRILES NACIONALES DE MEXICO.
(NATIONAL RAILWAYS OF MEXICO).
SECOND ANNUAL REPORT—FOR THE FISCAL YEAR
ENDED JUNE 30 1910.
Mexico Office:
Primera Calle de Vergara, 209.
New York Office:
No. 25 Broad Street.
To the Stockholders:
In compliance with the
provisions of Article 4S of the ByLaws of the Company, the Board of Directors has the honor
to present to the stockholders
thereport of operations for the
fiscal year ended June 30 1910.
transfer took effect
Your Company
as
of date June 30 1910.
Mexico), which
EXECUTION OF AND COMPLIANCE WITH THE
BANKERS’ AGREEMENT OF FEBRUARY 29 1908.
being the only holder of the stock of the
Railway Company, it was deemed con¬
venient, in order to simplify the administration of said Rail¬
way, to transfer all of the properties of that
Company to
the Ferrocarriles Nacionales de
Mexico (National Railways
of Mexico); this was
done, the transfer being effected as of
June 30th last.
The Bankers’ Agreement of
February 29 1908 has been
complied with in all respects, both with regard to the receipt
The two deeds of transfer mentioned above
in New York
City in due
of the certificates of stock of the former Mexican Central
Railway Company Limited and the former National Rail¬
road Company of Mexico, called for
conversion, and in re¬
lation to the distribution of the stocks and bonds of the
Ferrocarriles Nacionales de Mexico (National
Railways of
Mexico).
.
The shares and bonds of the former Mexican Central
Rail¬
Company Limited and the former National Railroad
Company of Mexico have continued to be presented for con¬
version, and at June 30th of this year the number and pro¬
portion of these certificates exchanged for those of this
Company is shown in the following statement:
Statement of Securities Deposited up to the 30th
of June 1910,
in accordance with the
plan of the 6th of April 1908.
way
SECURITIES OF THE MEXICAN CENTRAL RAILWAY CO. LIMITED
Total Issue.
10% Notes.
Reg.Inc.Bds.
2d Inc. Bds.
Shares
Total
264,062 50
00
00
00
00
00
109,020,000
32,706,000
325,200
11,284,000
59,127,100
Outstanding.
0.00
6,597,000 00
IstMtge.Bds.
Cons.M. Bds.
First Inc. Bds.
Per
Cent.
Deposited.
5500 00
_
5 % Priority
Bonds
55,192,000 00
225,715 00
105,359,000 00
32,329,100
314,000
11,254,000
59,038,900
00
00
00
00
5219,323,862 50 5213.712,715 00
78.70
85.48
96.64
98.84
96.55
99.74
99.85
Per
Cent.
5500 00 100.00
1,405,000
38,347
3,661,000
876,900
11,200
30,000
00
50
00
00
00
00
88,200 00
21.30
14.52
3.36
1.16
3.45
97.44 85,611,147 50
2.56
.26
.15
SECURITIES OF THE NATIONAL RAILROAD CO. OF
MEXICO.
Total Issue.
Pref. Stock.
2d Pref. Stk.
Com. Stock_
Def’d Stock.
Total
____
532,000.000 00
22,043,600 00
284.600 00
11,021,800 00
565,350,000 00
Deposited.
Per
Cent.
531,997,300 00
22,002,600 00
99.99
99.81
147,500 00 51.83
11,021,800 00 100.00
565,169,200 00
99.73
Outstanding.
Per
Cent.
52,700 00
41,000 00
137.100 00
0.01
0.19
48.17
0.00
5180,800 00
0.27
TOTAL NUMBER OF SECURITIES OF
BOTH COMPANIES.
•
Issued.
Bonds and
Shares
Deposited.
5284.673.862 50 5278,881.915 00
Per
Cent.
97.97
All the above amounts in United
States
The remaining Five Per Cent Gold
Outstanding.
85,791.947
50
Per
Cent.
2.03
Currency.
Notes of the former
Mexican Central Railway
Company
Limited,
to which refer¬
ence was made in the annual
report last year, and which
were
assumed
by your Company together with other
tions of that Company, have been
paid in full, and the
ment Bonds and Notes of the said
former
obliga¬
Equip¬
Mexican Central
Railway Company Limited are being paid as they mature.
There remains pending
payment, therefore, of the obliga¬
tions referred to only the amount shown
in the attached Gen¬
eral Balance Sheet, or
$4,708,000, as compared with $37,-
046,238 72 at June 30 1909.
In order to give greater
scope to the certificates of this
Company on the market, the First and Second Preferred
Shares have been listed on the
Exchanges in
Geneva and
Zurich, Switzerland, and the Prior Lien Basle,
Bonds have been
listed on the Exchanges in Berlin and
Frankfort, Germany.
In connection with these
listings the Company has only
assumed the obligation to communicate
and publish in due
time advertisements relative to the
payment
of dividends
and interest,
redemption of bonds, etc. The listing of the
Second Preferred Shares
accomplished.
on
the Paris Bourse has also
been
ACQUISITION OF RAILWAY LINES.
SUBSIDIARY COMPANIES.
By the purchase from
a
cionales de Mexico (National
Railways of
the Southern Pacific
considerable number of shares of The Mexican Company of
International
Railroad
Company, the Ferrocarriles Nacionales de Mexico
(National Railways of Mexico) became the owner
of 203,023
of the total 207,082 shares
comprising
the
Capital
Stock
issued by that
Company, and this permitted the execution
of the deed
transferring all of the
of The Mexican
International Railroad Company properties
to the Ferrocarriles Na-
Mexican Pacific
were
executed
legal form, and as the transfers had
previously been authorized by the Department of Communi¬
cations and Public
Works, the documents were protocolized
in the City of Mexico on the
register books of Notary Juan M.
Villela.
The Board of
Directors entered into negotiations for the
acquisition of all or at least a large majority of the shares
of stock of the Pan-American
Railroad Company and the
Vera Cruz <fc Isthmus
Railroad,
considering that these lines
had great significance in connection
with the future
develop¬
ment of this Company, and
although the contracts covering
these acquisitions were executed after
June 30th of this year,
and do not, therefore,
properly pertain to the period covered
by this report, the Board of Directors deem it
expedient to
inform the Stockholders of this
fact, though only in general
terms, on account of the corresponding deeds not
having
as yet been executed.
It would be proper to
observe, with respect to these con¬
tracts, that, in all probability, according to careful studies
which have been made of the
physical and financial condi¬
tions of the lines referred to, the
earnings of these railroads
will in the near future be sufficient to
fully cover the expenses
of operation as well as the fixed
charges.
The Interoceanic Railway
Company of Mexico (Acapulco
to Vera Cruz) Limited,
which, as the Stockholders under¬
stand, is operated by this Company, entered into a contract
with the Mexican Southern
Railway Company, covering
the rental of the latter
Company’s properties for the balance
of the time covered by its
concession, and inasmuch as the
concessions of the Interoceanic
Railway will expire before
those of the Mexican Southern
Railway, it is stipulated in
said contract that, after the
expiration of the former Com¬
pany’s concessions, the rental contract will continue in favor
of the Ferrocarriles Nacionales de Mexico
(National Rail¬
ways of Mexico).
The rental stipulated is the equivalent
of the amount
necessary to cover the payment of the prin¬
cipal and interest of the bonds issued by the Mexican South¬
ern
Railway Company, and to reimburse the Capital Stock,
paying thereon progressive dividends not to exceed at any
time 5 per cent per annum.
The receipts to date from the
Mexican Southern Railway assure the
payment of these
amounts in the near future, and will soon
yield considerable
profit directly to the Interoceanic Railway and indirectly
to the Ferrocarriles Nacionales de Mexico
(National Rail¬
ways of Mexico).
It does not appear
necessary to say more concerning the
great advantages offered by the acquisitionof the only rail¬
road that connects the State of Oaxaca with our
System.
This Company is the owner of the concession issued
by the
Federal Government to the National Railroad
Company
of
Mexico for the construction of a bridge over that
part of the
Rio Grande belonging to this
country, to connect the towns
of Matamoras, State of
Tamaulipas, and Brownsville, State
of Texas, and the St. Louis Brownsville & Mexico
Railway
is the owner of the concession issued
by the Government
of the United States of America for the construction of
that
in the State ofof Texas,
gart
of the agreed
bridge tolocated
and these
ompanies
the organization
subsidiary
com¬
a
to which they will transfer the concessions and facilities
on both sides of the river and which
subsidiary company shall
take charge of the construction and operation of said
bridge.
The result of this agreement was the organization of the
Brownsville-Matamoras Bridge Company under the laws of
the Territory of Arizona, and the concessions referred to will
be transferred to that Company in due
course, with the
authority granted by the Governments of Mexico and the
United States of America.
The Capital Stock of the Bridge
Company was subscribed in equal parts by both Railway
pany
Companies.
It was considered advantageous to reorganize the
Service over the Company’s lines, which had
Express
previously been
performed by Wells, Fargo & Company on the former Mexi¬
can Central Railway, and by the National
Express Company
on the lines of the former National Railroad
Company of
Mexico.
The result of the negotiations entered into with
this end in view was that this Company and
Wells, Fargo <fe
Company organized a limited company in accordance with
the laws of the Republic of Mexico under the name of the
“Compania Mexicana de Express, S. A.,” the object of
Nov. 26 1910.
THE CHRONICLE
perform express. service in the Republic of
organization having been perfected, the said
company executed with the Ferrocarriles Nacionales de
Mexico (National Railways of Mexico) a contract covering
the operation of express service on its system, and by virtue
of this contract your Company and the lines which it operates,
in their capacity of transportation companies, receive as
compensation for providing the facilities necessary for the
performance of the service 50 per cent of the gross earnings
that may be received on the entire System, the balance going
to the Compania Mexicana de Express, S. A.
Furthermore,
the Capital Stock of the Express Company, totally paid in
cash by Wells, Fargo & Company, was fixed at one million
pesos in the Deed of Incorporation, represented by ten
thousand shares of one hundred pesos each, which were di¬
vided into two series, A and B, of five thousand shares each,
Series A shares being assigned to this Company, free from all
which was to
Mexico.
The
expense, as
compensation for our having agreed to the or¬
ganization of the Express Company. It was also provided
in the Deed of Incorporation that out of the gross earning
of the Compania Mexicana de Express, S. A., on the lines of
the Ferrocarriles Nacionales de Mexico (National Railways
of Mexico) a cumulative dividend of 9 per cent should be set
aside for a period of five years, which would be assigned
preferably to shares of the A series. In view of this and in
1453
Zamacona e Inclan), seven Directors should be elected at the
General Meeting to hold office until the meeting of 1911, and
in addition two to fill the unexpired terms of Messrs. Samuel
M. Felton and Julio M. Limantour, to hold office until the
meeting of 1912. The outgoing Directors may be re-elected.
The Commissaries, Messrs. Luis Mendez and Salvador M.
Cancino, and their substitutes, Messrs. Emilio Pardo and
Porfirio Diaz Jr., appointed at the ordinary general meeting,
shall cease to exercise their functions on the date of the pres¬
ent general meeting of shareholders.
In accordance with Article 27, of the By-Laws, the Board
of Directors elected Mr. Jose Y. Limantour as Chairman of
the Board and Mr. Pablo Macedo as Vice-Chairman.
In
view of the fact that the
same
conditions existed
during the
past year with Mr. Limantour as in the one preceding, that
is to say, he still held the office of Minister of Finance and
Public Credit, he asked to be excused from assuming the
duties of Chairman, and Mr. Pablo Macedo, in his capacity
of Vice-Chairman, therefore discharged the duties of Chair¬
man.
OPERATION OF THE LINES.
The administration of the Company's affairs and the opera¬
tion of its lines have been carried on without interruption
during the fiscal
faction
that
the
year 1909-1910, and
Board informs the
it is with great satis¬
stockholders of
the
accordance with contract entered into with the Ferrocarriles
Nacionales de Mexico (National Railways of Mexico), in its
gratifying results achieved, notwithstanding our having
suffered, as was but natural, from the effects of the general
capacity as a transportation company, as already stated, loss of crops throughout the Republic and the financial de¬
your Company should receive 59 per cent of the gross earn¬ pression experienced during the year 1908.
These results appear in the Accounts and Balance Sheet
ings mentioned. The B series shares are also entitled to
9 per cent cumulative for a period of five years, but subordi¬ submitted to the annual meeting, as well as in the report
nate to the 9 per cent corresponding to shares of the A series. rendered by the President of the Company to the Board of
Any balance left over, after providing for the Reserve and Directors, and which accompanies this report. Reference to
Sinking Funds, is to be divided pro rata between the two the Presidents’ report and accompanying statements will
series of shares.
give full details regarding the operation of the property.
As a matter of information and in view of its importance,
As the stockholders were informed by the Board at the
the Board desires to advise the stockholders that the gross general meeting of 1909, the exceptionally heavy rains in
Express receipts of the Compania Mexicana de Express, the northern part of the Republic during the month of
S. A., on the lines of your Company for the first ten months August 1909 caused serious damage to that portion of the
of its operation (September 1 1909 to June 30 1910) amounted system located in the region mentioned.
Immediate steps
to $2,542,982 10 Mexican Currency, out of which this Com¬ were taken to do the necessary work to open the line and in a
pany, as a transportation company, is entitled to 50 per cent, comparatively short time the damage was not only tempo¬
or $1,271,491 05 Mexican Currency, and on account of divi¬
rarily repaired but some permanent work had been done
dends declared on the Capital Stock of the Compania Mexi¬ which materially improved the condition of portions of the
cana de
Express, S. A., A Series, $278,868 37 Mexican Cur¬ Road. This meant a very heavy expenditure for the Com¬
rency, making a total of $1,550,359 42 Mexican Currency.
pany, which, in round numbers, amounts to $3,282,300
As the Stockholders are aware, the Mexican Central Rail¬ Mexican Currency.
«
way Company Limited was the only stockholder in several
During the early part of the year under review the con¬
subsidiary companies which it had organized, and some of ductors and engineers of foreign nationality tried to induce
these companies owned exclusively certain railway lines or the Company to adopt certain rules and conditions which
had charge of the
operation of certain other lines. When would tend to give them rights over natives occupying simi¬
the transfer of the Mexican Central Railway and subsidiary lar positions, threatening to strike if their demands were not
companies to the Ferrocarriles Nacionales de Mexico (Na¬ granted. The Board of Directors worked energetically
tional Railways of Mexico) had been consummated, it was and by exercising necessary prudence was able to handle the
considered undesirable that these companies should continue situation in such a way as not only to satisfy the conductors
in existence, as their continuance would not only cause diffi¬ and engineers mentioned, but to uphold the principle of
culties in the accounting in connection therewith, but also giving preference to the Mexican employees under equal
unnecessary expense.
Existing under these circumstances circumstances; this in accordance with the regulation in
were the following: “The
Tampico Short Line Company” effect that foreign employees who properly performed their
and “The Mexican & Northern Steamship Company,” which duties would be kept in the service, thus recognizing their
have been dissolved in accordance with the laws of the re¬ personal merits, the understanding being that, under equal
preference would be given to native employees
spective States of the United States of America, under which conditions,
with a view to stimulating the native element, so that in
they were organized.
For the same reason, and in view of the close relationship course of time the Company would be able to use native em¬
which existed between the Alamo Coal Co. and the Coahuila ployees in its service as far as possible.
The Board of
Coal Company, it was deemed desirable to consolidate these Directors, through the Press, maae known all the details
two companies, and to that end a company named “The of this incident, and no doubt these are known to the Stock¬
Coahuila Consolidated Coal Company” was organized under
the laws of the State of Colorado, the corporate documents
which company were duly protocolized
co, it having acquired all the properties,
two companies mentioned above.
in the City of Mexrights, etc., of the
THE BOARD OF DIRECTORS.
The Board of Directors has proceeded regularly, not only
in such matters as pertain exclusively to the Directors resi¬
dent in Mexico, but also in those concerning which, in accord¬
ance with the By-Laws, it became
necessary to obtain the
vote of the Local Board resident in New York, the relations
with which have been wholly satisfactory and in perfect
accord.
It is with much regret that the Board has to inform the
stockholders of the loss sustained by the death of Mr. Julio
M. Liman tour, which occurred on October 11 1909.
Mr.
Martin G. Ribon, by designation of the Board, was elected
to fill the vacancy caused by Mr. Limantour’s death.
holders.
ACCOUNTS AND DIVIDENDS.
Embodied in the report to the Stockholders will be found
the Balance Sheet and Income Account corresponding to
the fiscal year 1909-1910, which show the financial condition
of the
Company as of June 30 1910, and which have been
duly audited by Messrs. Price, Waterhouse & Company,
Chartered Accountants, and approved by the Commissaries.
As the Stockholders will note by said Balance Sheet and
Income Account, the results obtained permitted the payment
of a 1 per cent dividend on First Preferred Shares for the
second half of the year 1909 and of 2 per cent for the first
half of 1910, making a total dividend of 3 per cent, which
exceeded by 1 per cent the dividend guaranteed on this
stock by the Deed of Incorporation of the
Company. Now,
if the Stockholders approve the proposition which the Board
of Directors present to them, to the effect that an additional
dividend of 1 per cent be declared, the First Preferred Shares
During the year Messrs. Ernst Thalmann, James Speyer, will receive the full dividend of 4 per cent to which they are
Manuel de Zamacona e Inclan and Samuel M. Felton resigned entitled in accordance with the Statutes of the Company,
as Directors, and in accordance with the
provisions of Article notwithstanding the fact that the past year is only the second
Twenty-six of the By-Laws the Board appointed Messrs. of the existence of the Company.
Walter T. Rosen, Hans Winterfeldt, Emilio Pardo and
The details given in this report embody the most im¬
Hugo Scherer Jr., respectively, to act in their stead until the portant occurrences during the fiscal year under review and
haldihg of the general meeting of shareholders at which this the books containing minutes of meetings of the Board of
Directors and of the Executive Committee, as well as the
report is presented.
: y
'o In accordance with the
provisions of Clause 14 of the Deed documents pertaining thereto, are at the disposal of the
df Incorporation of the Company, the term of the first group Stockholders, should they desire to refer to them or secure
of the three into which the Board of Directors is divided any information riot made’ mention of in this report, which
having expired, which is composed of Messrs. Luis Elguero, I nave the honor to submit in the name of the Board of
Ricardo Honey, William H. Nichols, Jose Signoret, Walter Directors.
■■-•nw;‘
T. Rosen (substitute of Mr. Ernst Thalmann), James N.
PABLO MACEDO,
Wallace and Emilio Pardo (substitute of Mr. Manuel de
Mexico, D. F., October 5 1910.
Vice-Chairman.
>
r''
1454
THE CHRONICLE
report of president
Mexico, D. F., September 22 1910.
Lie. Pablo Macedo, Vice-Chairman
of the Board:
Dear Sir.—I beg to submit to
your Board of Directors
report of operations of the property for the fiscal year ended
June 30 1910.
SIDINGS AND
On Main Lines (between Mexico
and
New Laredo and Mexico and Ciu¬
dad Juarez),
Mexico
Mexican Currency.
The Gross Earnings from all sources were
The total Expenses of Operation were
$52,562,293 39
31,593,557 78
Leaving Net Earnings of
Interest on Securities owned
Other Receipts
1»165,Z5f
“2
22,793 87
Making
mii
$489,306 32
Kilometers,
Tulaclngo Tramway
Rellnas—Decauvllle:
To Los Reyes
To Salinas
Funded Debt and Equipment and
Trusts, Ac
Collateral
-"r'******
16,739,743 78
Profit'andlLoss Account
$2,836,569 58
Five per cent of Net Profits transferred to Re¬
serve Fund
$141,828 47
Dividend on Preferred Shares, three per
cent..1,729,974 00
85-lb. rail
83-lb.
"
75-lb.
“
70-lb.
"
66-lb.
“
546.741
30.382
1,629.373
1,549.305
298.578
12.520
419.187
66H-lb.“
60-lb.
56-lb.
45-lb.
40-lb.
“
"
“
“
2,787.010
669.360
499.608
25.670
Various"
339.731
18.879
1,012.452
962.699
185.529
7.780
260.472
1,731.778
415.923
310.444
as Net
Surplus for the
year
15.951
Total, MainLine
and
Total,
Branches.8,467.734 5,261.638
and
Kilometers.
8.595
ended June 30 1910..
$964,767 11
a
total Net
m*
*•
50,469 89
Surplus at June 30 1910 of
$1,015,237 00
.
.
.
.
.
_
.
as
to the
Sidings
Yards
comparisons with last
Miles.
Tampico
to
Palacio
Monterey and Gomez
Chicalote to Tampico
Irapuato to Guadalajara
Guadalajara to Ameca
Guadalajara to Manzanillo
Torreon to Saltillo.
Mexico (Buena Vista) to Balsas
Jim Inez to Rosario
Lecheria to Apulco
La Vega to San Marcos
San Bartolo to Rio Verde
Tepenacasco
to
Honey
Ocotlan to Atotonilco
Silao to Guanajuato
Mexican
Union
Ry.—Rincon de
Ramos to Cobre (Leased Line)
Telles to Pachuca
Brittingham to Dlnamlta
Tampico to La Barra
Cintura Ry. of the City of Mexico
Adrian to Santa Barbara
San Luis Potosl to Hacienda de
Beneflelo
Kilo. 1228 to Sulphur Mine
Santiago
Branch—Mexico
Customs House.__
to
Line)
Peralvillo
San
& Pacific
to
Railway (Leased
BeristalnlIIIIIIIZIIII
Augustin
to Irolo
Ventoquipa to Tortugas
Tepa to Pachuca
331.078
40.521
37.280
205.723
5.183
30.800
3.221
19.139
1,970.340
1,224.320
882.100
652.678
259.100
89.900
356.052
307.694
292.480
153.895
548.115
405.558
160.998
55.861
221.242
191.193
181.740
95.626
87.738
85.904
138.248
73.763
70.200
47.000
42.356
35.162
34.922
23.600
17.070
16.753
10.240
10.810
9.572
8.363
i
91.917
and
.
...
Products
Live Stock and Animal Products
.
_
-Mineral Products
General Merchandise.
_
12.34
23.24
3.48
48.87
12.07
100.00
year.
heavy floods in the Monterey district,
consequent extensive washouts, Operating Expenses
were charged during the year with
approximately $870,000 00
Mexican Currency, being the cost of
repairing the line tem¬
porarily to open it for traffic, together with such permanent
repairs as were made during the period under review. There
is also included in Operating Expenses the extra cost of de¬
touring freight and passenger trains to and from points
affected by these interruptions, and which, in some
instances,
and
318.081
^
Forest
Agricultural Products
On account of the
4,734.329
848.616~ZZ
Percentage.
proved during the
17.523
16.466
16.094
25,900
1909-1910.
.
OPERATING EXPENSES.
Diligence and care have been exercised in the maintenance
of the property, and at the close of the fiscal
year the physical
condition might be considered as good, and somewhat im¬
102.030
28.200
26.500
100.00
cattle, etc.
57 ng
164!200
$52,562,293 39
crisis.
Also, the fact should not be lost sight of that on
account of the floods in the Monterey
district in August 1909,
the lines in this district were not
only closed for quite a time,
which prevented us from
moving freight and passengers,
but the farmers suffered to a great extent in the loss of
crops,
t-'-v
I.
100.00
foregoing table shows a very satisfactory increase in
Earnings for the year, and the increases in earnings
from commercial freight and
passenger traffic are most
gratifying wrhen it is taken into consideration that the
country has been recovering from the effects of a financial
"
>
Floating equipment
Miscellaneous
2.40
99
46,014 50
101,365 25
8,186 34
1,313,592 39
The
5.189
3.259
7,619.118
_
16
68
Gross
1.199
511.899
Rentals
38
70
71.66
.39
21.39
.39
3.37
.09
.19
.02
2.50
100.00
f
1.930
Total, Narrow Gauge
Total, Main Line
10.04
23.43
3.41
52.41
10.71
10.607
10.410
6.363
6.717
5.948
5.197
"
$37,668,711
202,652
11,245,560
207,160
1,769,049
Passenger
Baggage
Express
Telegraph
1908-1909.
21,849
: rt'
Commercial Freight
Construction Freight
.28
.02
Percentage.
21.700
14.664
*
.21
21.24
.27
3.85
.08
centage.
The percentage of each class of commercial
freight to the
handled during the year, and
comparison with the
previous year, is shown in the following table:
29.205
26.319
8.350
5.245
71.65
103,733 74
95
15
82
31
89
14
Earnings.
total
45 834
43.621
the
Total, Standard Gauge..
BIN arrow Gauge—
Tacuba Junction (Kilo. 6) to Uruapan and Extension to
Packing
House “Popo”
Aflchoacan
65.212
59.995
‘141.200
Yurecuaro to Los Reyes
Paredon to Saltillo..
Tula to Pachuca
Per¬
centage.
$48,805,522 26
Matehuala Branch, including Potrero
Branch
San Luis de la Paz Branch
Matamoras Branch
Cintura Extension—San Lazaro to
Xlco: and Branch to Factories
Jarita Branch....
Mexico (Buena Vista)
to Ciudad
Juarez
1909-1910.
10,365,724 23
130,214
1,879,617
38,472
134,793
8,678
1.175,709
to
as
year, your attention is called
Per¬
801.998
3.598
3.162
0.034
52.354
0.590
49.752
0.581
635.127
“== =
1908-1909.
$34,968,578 03
MAIN LINE AND BRANCHES.
Standard Gauge—
Kilometers.
Mexico (Santiago) to centre of Rio
Grande Bridge
1,290.684
Colonia to Junction with Main Line
at Kilo 6
5.791
Cintura Line—Santiago to San Lazaro
5.089
Connection at Gonzales Junction
0.054
Gonzales to Acambaro
84.256
Branch in Yard at Acambaro
0.950
San Juan to Jaral del Valle.
80.067
Connection with the “ Y” at Salamanca
0.936
1,022.132
-9,489.866 5,896.765
following table:
Earnings.
MILEAGE.
3.808
_
Miles.
5.341
1.194
7.366
41.242
5.277
1.759
390.889
1.969
75.964
101.769
2.366
Earnings from all sources amounted
$52,562,293 39, Mexican Currency, for details of which,
well
On account of the extent of
damage done by the floods in and about
the month of August 1909, it has been decided to create
this reserve fund to take care of the
heavy expenditures which we will have
to incur in order to restore our lines in
the effected district to standard.
The following table gives details of
mileage in operation at
June 30 1910:
11.855
66.372
8.493
2.830
629.057
3.169
122.251
163.780
.
GROSS EARNINGS.
•
'
was
The total Gross
Monterey during
ffl
1.922
.
Grand Total
To which add:
Net Surplus for year ended June 30 1909
Which gives
9.758
SIDINGS AND YARDS.
85-lb. rail
83-lb.
“
75-lb.
"
70-lb.
“
66-lb.
"
60-lb.
"
56-lb.
"
“
54-lb.
45-lb.
"
40-lb.
"
30-lb.
"
1,871,802 47
Leaving
Miles,
Standard Gauge.
161.853
2.349
9.650
6.054
MAIN LINE AND BRANCHES.
Kilometers. Miles.
$19,576,313 36
to
Standard Gauge.
260.475
3.781
Texas Mexican
Railway
WEIGHT OF RAILS.
1,000,000 00
-2,091,652 08
Leaving Balance carried
And deducting:
ex-Mexifcan Central property
during the fiscal year under
review, and which developed this difference.
The following table shows the
weight of rails in the main
line and branches, also
sidings and yards, at June 30 1910:
2,580,958 40
on
5.896.765
AVERAGE LENGTH OF LINE OPERATED.
980,000 00
_
And:
Interest
635.127
9,489.866
The average length of line
operated
8,467.734 kilometers, or 5,261.638 miles.during the year
61,652 08
Prior Lien and General Mort¬
gages.
*
Reserve
to
repair Damages
caused by Floods in Monterey
District
1,022.132
Grand Total
15.704
Equipment covered by the
on
Total, Sidings and Yards
$50,000 00
terments in Suspense
Reserve for accrued Depreciation
318.186
297.892
19.049
30.657
The decreased mileage
of sidings and yards, as compared
with last year, is accounted for
by a re-measurement of the
—a
76,238 55
—
Material Adjustment Account._
Reserve on Additions and Bet¬
512.067
479.408
$413,067 77
Subsidiary Companies
(Mexican-American Steamship Co. and Texas
Mexican Railway Co.)
Sundry Adjustments of Operating Expenses:
City
Hidalgo Division
...$22,157,271 76
* ti
LXXXXI
YARDS.
..$20,968,735 61
-
To which add:
From which deduct:
Taxes and Rentals
Operating Deficits of
including
Terminals
On Branch Lines
RESULTS OF OPERATION.
The following condensed statement of Income Account
shows the results of the year:
[VOL.
a haul of considerable additional
mileage.
The cost of operating the property for the fiscal year was
meant
527.309
60.11 per cent.
The comparative percentages of the sub-accounts for the
years
1908-1909 and 1909-1910
are as
follows:
Nov. 26
THE CHRONICLE
1910.)
1908-1909.
1909-1910.
Percentage.
Percentage.
Way and Structures
Equipment
Conducting Transportation—\
General Expenses
26.14
20.38
47.59
5.89
Maintenance of
Maintenance of
22.54
21.23
49.61
6.62
100.00
100.00
The
years
comparative percentages to Gross Earnings for the
1908-1909 and 1909-1910 being;
1908-1909.
1909-1910.
Percentage.
Percentage.
Maintenance of Way and Structures..
Maintenance of Equipment
13.47
12.69
29.65
3.95
15.71
12.25
28.61
3.54
Conducting Transportation
General
Expenses
BALLAST.
The following quantities
the track during the year,
The various statements of accounts as prepared by the
General Auditor, and which accompany this report, give in
detail the results for the year, and show the financial condi¬
tion of the property.
The books and accounts have been audited
1909-1910.
Percentage
Mexican Currency. of Inc’se
$52,562,293 39
orDec'se.
31,593,557 78
Gross Earnings
Operating Expenses
$48,805,522 26
29,166,879 30
Net Earnings
$19,638,642 96
Monterey
—
Aguascalientes
Cardenas
•*
____.
Hidalgo
985
Total
-
BRIDGES, TRESTLES AND CULVERTS.
following permanent bridges were built during the
year:
NORTHERN DIVISION.
Two 38.1 meters deck steel spans on masonry;
958-A near Mariposa.
59.76
AGUASCALIENTES DIVISION.
with
via¬
duct; this work embraced a 130,000 cubic meter fill, changing
line to one curve of 2m. 30 deg. in place of three curves of
seven degrees each.
GUADALAJARA DIVISION.
Irapuato to Guadalajara. Two 62.4 meters through steel
bridges, Nos. 93-A and 150-A, at La Piedad and La
Barca, respectively.
GOMEZ PALACIO DIVISION.
Operating percentage
16,914,927
Two
$10,484,367 80
Kilometers
by
run
pairs of 4.87 meters steel I beams on masonry abut¬
Bridges 908-A and 986-A, Main Line.
Two 45.7 meters steel, double span on masonry abutments
and pier; Bridge 1,093-B; Main Line (Picardias Bridge).
60.11
ments;
revenue
trains
17,164,988
Earnings per revenue
train kilometer
$3 0621
Operating
per
Expenses
Gross
$2 8853
1 7243
1 1610
revenue train kilometer.
Net Earnings per revenue
train kilometer
Gross
Earnings
CHIHUAHUA DIVISION.
1 8405
Three spans
steel I beams;
1 2216
kilometer of road operated..
Operating
Expenses per
5,801 81
per
of 7.01 meters, and two spans of 3.9 meter®
Bridge 1,610-A; Main Line, over street car
subway.
6,207 36
LINARES DISTRICT.
kilometer of road oper-
ated
3,467 25
Net
of road operated.
Average amount received
for each ton of freight..
6 12627
Average receipts per ton
01766
per kilometer
Average amount received
2,476 31
6 59474
ZAMORA BRANCH.
01851
from each passenger
Average receipts per
01790
senger per kilometer
as
3,757 12
follows:
Two
1909-1910.
Mexican
P. C. oj
Increase
Currency.
or
Miles run by revenue trains
10,665,809
Gross Earnings per revenue train mile._
$4 9281
Operating Expenses per rev. train mile.
2 9621
Net Earnings per revenue train mile
1 9660
Gross Earnings per mile of road operated 9,989 80
Inc.
“
“
“
“
Dec.
1.48
6.13
6.74
5.23
per passenger per
mile.
RE-LAYING WITH HEAVIER RAIL.
The following sections of track were laid with heavier
rail during the year, viz.:
MEXICO TERMINALS.
yard: 1.097 kilometers of 27.779 kilograms
(per lineal meter)—(56 lbs. per yard) rail laid in place of
19.842 kilograms (40-lb.).
Santa Julia: 411 meters of 19.842
kilograms (40-lb.) replaced with 313 meters of 34.723 kilo¬
grams (70-lb.) rail, and 98 meters of 27.779 kilograms
(56-lb.) rail.
6 59474
02978
1 85195
passenger
Average receipts
02918
MEXICO—QUERETARO DIVISION.
ADDITIONS AND BETTERMENTS.
By referring to the Balance Sheet it will be noted that
a total amount of $4,290,918 94, Mexican Currency,
standing to the debit of Additions and Betterments at
June 30 1910, of which amount the sum of $1,779,501 52,
Mexican Currency, pertains to expenditures made up to
June 30 1909; the balance, or $2,511,417 42, covers amounts
expended during the year ended June 30 1910. From the
appended statement it will be seen that of the latter amount
$99,756 22 was expended on freight and passenger equip¬
ment and on converting locomotives from coal to oil burning;
the balance, or $2,411,661 20, on extraordinary work of a
capital nature.
The following statement gives details of amounts expended
on this account
during the year ended June 30 1910:
there is
Expended
Right of Way and Station Grounds
Real Estate
Protection to Banks, and Drainage
Grade Reductions and Changes of Line
Tunnel Improvements
Bridges, Trestles and Culverts
Increased Weight of Rail.
Ballast
Ings and Spur Tracks
Sidings
Ter mlnal Yards
Improvements of Crossings Over and Under Grade_
Interlocking Apparatus
Telegraph and Telephone Lines
Station Buildings and Fixtures
Roadway Buildings
Shops, Engine-houses and Turntables
Shop Machinery and Tools
Water and Fuel Stations
Dock and Wharf Property
Electric and Power Plants
Additional Equipment:
Locomotives
July 1 1909 to
Jwne30 1910.
$46,277 99
1,474 76
4,777 25
261,190 96
24,398
392,328
587,028
500,636
20
56,477
15,639
2,190
23,546
46,203
4,774
60,278
86,528
53,095
51
87
45
32
61
86
19
83
23
17
79
25
84,801 76
13,167 67
2,949 06
"
rk "
‘
Work
Equipment-
40 62
Sundry Betterment Expenditures pending Formal Authori¬
Total
-----
123.389 to 312.438, difference 189.049
kilometers, and from kilometers 5.377 to 95.000, difference
89.623 kilometers, a total of 278.672 kilometers of 34.723
kilograms (70-lb.) rail replaced with 42.390 kilograms
(85-lb.) rail.
SAN LUIS DIVISION.
Matehuala Branch: from kilometers 34.700 to 47.000, <>r
12.300 kilometers of 22.322 kilograms (45-lb.) rail were re¬
placed with 34.723 kilograms (70-lb. rail.
In Matehuala yard, 1.859 kilometers of 19.842 kilograms
(40-lb.) rail were replaced with 780 meters of 34.723 kilo¬
grams (70-lb.) rail and 1.079 kilometers of 22.322 kilograms
(45 lb.) rail. Morales Smelter Branch; San Luis Potosi; 7
kilometers of 19.842 kilograms (40-lb.) rail replaced with,
27.779 kilograms (56-lb.) rail.
NORTHERN DIVISION.
Matamoras Branch:
There were 38.820 kilometers of
22.322 kilograms (45-lb.) rail and 19.842 kilograms (40-lb.)
rail taken up and re-laid with 27.779 kilograms (56-lb.) rail,
as follows:
Kilometers.
From
79.440
88.500
107.300
112.000
128.900
131.700
203.950
275.700
Totals
99,756 22
Colombia Branch
zation
From kilometers
307.150
$53,304 96
25,000 00
2,378 00
19,073 26
Passenger Coaches.
Freight Cars
-
masonry;
on
Buena Vista
6 12627
02881
spans of 5.18 meters steel I beams
Bridge 357-K; Morelia district, near Charo.
6.99
Operating Expenses per mile of road
operated
6,004 55
Net Earnings per mile of road opera ted. 3,98 5 25
Average amount received for each ton of
freight
02841 Average receipts per ton per mile.
1 65477 Average amount received from each
spans on masonry
PACIFIC DIVISION—NARROW GAUGE.
01813
Mexican
9,337 13
5,580 01
pair of 7.01 meters steel I beam
abutments; Bridge 38. B.
1 85195
Expressed in miles the figures show
2 7750
1 8685
One
pas-
1908-1909.
Currency.
10,510,428
$4 6435
of 7.01 meters steel I beams on masonry; com¬
prising three bridges, Nos. 456-A, 457 and 465-B; located at
kilometers 455.93, 456.30 and 465.55, respectively.
kilometer
per
2,334 56
1 65477
Ten spans
3,731 05
_
Earnings
Bridge
At Encarnacion an 8-meter masonry arch culvert
9 meter side walls has been constructed to replace the
Mexican dollar for the
year,
viz.,
50
cents,
equals
284,022
-
truss
$20,968,735 61
Which, reduced to gold at
the average price of the
$9,819,321 48
27,093
58,027
45,132
56,424
1,622
54,587
21,407
18,745
_
Torreon
Chihuahua
by Messrs.
Price, Waterhouse & Co., of London, New York and Mexico,
and a copy of their certificate as to the correctness thereof
accompanies this report.
The results of operation for the year are as follows:
1908-1909.
Mexican Currency.
Lineal Meters —
San Luis
The
STATEMENTS OF OPERATION.
of ballast have been placed in
viz.:
Divisions—
Mexico—Qucretaro
Guadalajara
60.11
59.76
1455
143,854 85
$2,511,417 42
Rail Taken
To
86.440
92.500
107.900
112.600
129.350
132.020
22.322 kgs.
Up.
19.842 kgs.
7.000
4,000
.600
.600
.450
205.050
279.600
328.000
12.200
Rail Laid.
27.779
kgs.
7.000
4.000
.600
.600
.450
.320
.320
1.100
3.900
20.850
20.850
26.620
38.820
1.100
3.900
MONTEREY DIVISION.
From kilometers 16.400 to 21.000, or 4.600 kilometers, and
from kilometers 26.273 to 60.100, or 33.827 kilometers, total,
38.427 kilometers of 27.779 kilograms (56-lb.) rail replaced
1456
THE
CHRONICLE
with 34.723 kilograms
(70-lb.) rail. From Kilometers
581.000 to 593.520, or 12.520 kilometers of 27.779
kilograms
(56-lb.) rail replaced with 30.507 kilograms (613^-lb.) rail.
From kilometers 593.520 to
594.500, or 980 meters of 27.779
kilograms (56-lb.) rail replaced with 37.204 kilograms (75-lb.)
rail.
Irapuato to La Junta:
Under contract executed
January 4 1909 between this
Company, the State of Durango and the Compania Maderera
de la Sierra de
Durango, and covered by a concession from
the Federal
Government, we are to build a line from
NEW SIDE AND
in
[PASSING TRACKS.
During the year new side tracks, passing tracks, cross-overs
and extensions to existing side tracks were built to the extent
of 19.820 kilometers.
Of these new tracks, 19.428 kilo¬
meters are of standard gauge, and the
balance, or 392 meters,
of narrow gauge.
The following statement gives details of
weight of rail used in these new tracks, viz.:
satisfactorily.
TRANSFER OF THE MEXICAN
INTERNATIONAL RAILROAD CO.
The physical transfer of all the
lines, property, etc., of
The Mexican International Railroad
Company to Ferrocarriles Nacionales de Mexico
become effective on
having
June 30 1910, all of the assets and liabilities of that
have been included in the General Balance Sheetcompany
of this
company, and which forms part of and accompanies this
22.069
Forty-pound rail (19.842 kilograms)
Fifty-six-pound rail (27.779 kilograms)
report.
1.365
.884
As in former years, a
separate report of the operations,
etc., of The Mexican International Railroad Company will be
rendered for the fiscal year ended June 30 1910.
2.249
Net Increase
.19.820
TREE PLANTING.
FLOODS IN MONTEREY DISTRICT.
head
of
Suffered by the Lines” in your report of last
year,
mate estimate of the total
The work of planting trees on the various divisions of the
system has received considerable attention during the last
year; at most points the experiment has been a
success, and
in a few cases it has been ascertained that in certain
districts
the soil, climate, etc., are unsuitable for certain kinds of
trees.
To further this work a
nursery has been established
at La Barra, a short distance out from
Tampico, on com¬
pany’s land, and many young trees are being shipped to
suitable points on the system for
“Damages
an
a
the interest on cost of the line.
Contracts for construction
of the line were let in the month
of January 1910, and the
work is progressing
.097
3.233
16.005
2.361
.201
.172
Total
From which deduct—
Tracks taken up:
Durango
westerly direction for a distance of approximately 105
kilometers to a point called Llano Grande.
The State of
Durango and the Compania Maderera guarantees for a period
of twenty years
any deficit from operations sufficient to pay
Kilometers.
Forty-pound rail (19.842 kilograms)
Forty-five-pound rail (22.322 kilograms)
Fifty-six-pound rail (27.779 kilograms)
Seventy-pound rail (34.723 kilograms)
Seventy-flve-pound rail (37.204 kilograms).
Eighty-five-pound rail (42.390 kilograms)
approxi¬
damage places the amount at
$3,282,300 00, Mexican Currency, as necessary to repair the
damage, improve the districts affected by the washout by
changes of line, raising grades and putting in permanent
steel and masonry.
Of this amount it is estimated that a
sum of $1,332,900
00, Mexican Currency, will be chargeable
to Additions and
Betterments, and the balance, or $1,949,400 00, represents the approximate cost of
replacing previous
structures.
It is thought that the
charge of $870,000 00,
Mexican Currency, to Operating
Expenses, and the reserve
of $1,000,000 00, Mexican
Currency, which has been set up in
the accounts for the year under
review, will take care of all
the work to be done under this head and which is
chargeable
to
planting.
STOCKING STREAMS, ETC., WITH FISH.
The Industrial Department has been
endeavoring to stock
the principal lakes, running streams and
larger presas along
the lines with game fish of various
kinds, and at some places
the fish have been supplied.
ARTESIAN WELLS.
At various
operation.
points on the system new artesian wells have
been sunk, and at some places
existing wells have been
deepened, with a view to improving the water serivce.
IN GENERAL.
EMPLOYEES.
The number of employees in the service of the
company at
the close of the fiscal year was
26,106. Of the total number,
or
contract executed between this
Company and the
de Express, S. A., the latter assumed
satisfactory.
kilograms (75-lb.) rail.
1,075,
OPERATION OF EXPRESS DEPARTMENT.
a
NEW LINE FROM DURANGO TO
LLANO GRANDE.
From kilometers 1,734.422 to
1,778.600, or 44.178 kilo¬
meters of 27.779 kilograms (56-lb.) rail
replaced with 37.204
under
STATEMENTS OF ACCOUNTS.
Attached hereto you
General Auditor, dated
4.12 per cent, were foreigners.
will please find letter from the
September 13 1910, together with
the ten statements of accounts
STATEMENTS OF EQUIPMENT.
Your attention is invited to statements
showing various
classes of locomotives and cars on hand at June
30 1910, and
which accompany this report.
as
listed therein.
Accompanying this report will be found
and officers of your company as at
a list of directors
June 30 1910.
Respectfully submitted,
E. N.
NEW EQUIPMENT.
The increase in the traffic
the purchase of additional
BRIDGE.
control and operation of the
express service on all of our lines
of September 1
1909, and for a period of twenty-five years
from that date.
The results from operation for the ten
months to June 30 1910 have been
CHIHUAHUA DIVISION.
remarks
equipment will begin during
as
18.607 kilometers
replaced with 42.390 kilo¬
to
new
Compania Mexicana
From kilometers 438.462 to
457.069, or
of 37.204 kilograms (75-lb.) rail
reference
Compound Locomotives.
Passenger Coaches.
2,550 Freight Cars.
Under
735.838, or 804 meters of
replaced with 37.204 kilograms
CARDENAS DIVISION.
With
13 Mallet
46
bridge, to which referecne was made in the last Annual
Report, was completed and opened for traffic on July 21 1910.
AGUASCALIENTES DIVISION.
(85-lb.) rail.
following:
This
From kilometers 735.034 to
32.739 kilograms (66-lb.) rail
grams
placed in the
were
January, March, April and July 1910 for the
MATAMOROS—BROWNSVILLE
(70-lb.) rail laid in place of 27.779 kilograms (56-lb.) rail,
leaving some small gaps at switches still to be changed.
(75-lb.) rail.
months of
lxxxxi.
present calendar year.
Between Kilometers 0.861 and
205.535 kilometers of 34.723 kilograms
were
proval of the Board of Directors, orders
The first deliveries of this
the last quarter of the
GUADALAJARA DIVISION.
251.168 there
[Yol.
BROWN,
President.
the system made
necessary
rolling stock, and, with the apover
[For Balance Sheets, Income Account and Traffic Statistics
of "Chronicle,” page 1382.]
see
last issue
MEXICAN INTERNATIONAL RAILROAD COMPANY.
ANNUAL REPORT—FOR THE FISCAL YEAR ENDED JUNE
30 1910.
New York, October 11 1910.
The President and Board of Directors
submit herewith
their report of the Company’s transactions for
the year ended
June 30 1910:
I. MILES OF ROAD OWNED AND
LEASED.
The following statement shows the
miles of road owned
and operated at June 30 1910:
Main Line, Ciudad Porfirlo Diaz to
“
“
Durango
Reata to Monterey
Branches, Sabinas to Roslta
Monclova to Cuatro Clenegas
Homos to San Pedro
“
r;“
Pedrlcena to Velardena
Matamoras to Tlahualllo
Horizonte to Bermejlllo__
Durango to Tepehuanes—
"..III
_
_
Coahuua Coal Ry. (Leased Line).
”
*Total
sidings
Total miles of track
......
Miles.
Kilometers.
540.291
869.510
72 315
116.380
12.719
20.470
42.530
68.445
14.347
23.090
5.822
9.370
43.496
70.000
14.000
22.530
134.947
217.175 ■
24.351
39.190
904.818
179.551
1,456.160
288.958
1,084.369
1,745.118
The,Hondo Branch, 19.790
kilometers, has been dropped
mileage this year, as it has not been
from the statement of
under operation on account of the abandonment of the coal
mines which it served; a small portion of this track has been
taken up.
The increase in the mileage of sidings is brought
about by our having built new lines to reach some of the
coal fields, extension of existing side-tracks and additional
passing tracks.
result has been
Some sidings
an
were
taken up, but the net
addition of 15.216 miles, or 24.488 kilo¬
meters, to the mileage of sidings as compared with last year.
The average number of kilometers of road operated
during
the year was 1,461.61 (908.22 miles), as
compared with
1,477.46 (918.06 miles) for the previous year.
II. RECEIPTS AND EXPENSES.
The gross earnings from all sources for the year were $8,920,854 03 Mex.
Cy.
The total expenses of operation
*♦'
5,445,668 32
The net earnings
To which add—
:
r.....r—$3,475,185 71
•'
Income from Investments
Adding thereto Interest collected
counts
Gives the total net
—
-
—
revenue
of_..
on
current
"
“
I
''1
»
$3,476,575 21
$1,738,287 60 U. S'. Cy.
gives
a totalInnet
of States Currency
-----quivalent
United
'
miK
1,389 50
ao-
18,773 09
$1,757,060 69
"
KOV. 26
THE CHRONICLE
1910.]
The interest
the funded debt and two years' interest
the income bonds makes a total interest
on
to June 30 1910
on
1457
ing paragraph.
The general crop conditions this year were
favorable than those of the previous year, and there
was in reality an increased movement in
practically all of the
various agricultural products.
In the last annual report mention was made of the re¬
more
charge of $911,430 00, United States currency.
From the foregoing it will be seen that there was an excess
from Income Account of $845,630 69, United States cur¬
adjustment of fuel rates, and the belief expressed that an
rency, over the fixed charges for the year.
Reference was made in last year's report to duties payable increased movement of native coal and coke might be antici¬
to the Government on imported company material in excess
pated; there was an increase of 346,349 metric tons in these
of the kilometric allowance, and it will be seen from the fol¬ during the year under review, due to the more favorable
lowing statement that a charge of $200,000 00, Mexican conditions brought about by the readjustment of rates, as well
currency, has been made under this head; same represents as to a heavier demand.
An increase of 18,054 metric tons in the tonnage of general
the estimated amount of duties to be paid to the Government
for importations, in excess of the kilometric allowance, made merchandise handled is evidence of the more favorable finan¬
during the six months ended June 30 1910. The principal cial conditions which obtained this year as compared with
item on which this duty is assessable being new rail imported last.
The increase of $80,086 19, Mexican currency, in passenger
during the term mentioned above.
For details of the Receipts and Expenses see following earnings is due chiefly to the improved commercial conditions.
statement:
The express receipts show an increase of $85,321 08,
Year ending
Year ending
Increase (+) or
Mexican currency, due partly to more favorable industrial
June 30 1910. June 30 1909.
Decrease (—).
Mexican Currency.
conditions, and also to the arrangement entered into with the
+ $171,405 56
Passengers and express
$1,193,654 43 $1,022,248 87
Compania Mexicana de Express, S. A., under which the said
+ 1,777,351 17
Freight
7,606,517 40 5,829,166 23
All other sources
101,869 39
company assumed charge of the express service from the
120,682 20
+ 18,812 81
1st of September last for a period of twenty-five years.
The
Total receipts
$8,920,854 03 $6,953,284 49 +$1,967,569 54
x
Maintenance
of way and
Structures
$1,446,482 97
Maintenance of equipment-- 1,328,291 90
Conducting transportation.. 2,068,821 24
General expenses
!
291,164 47
$909,062 67
+$537,420 30
967,177 85
1,874,484 79
296,751 72
+361,114 05
+194,336 45
—5,587 25
Total working expenses—$5,134,760 58 $4,047,477 03
+$1,087,283 55
Stamp and other taxes
$2,905,807 46
+$880,285 99
+1,389 50
$3,787,482 95 $2,905,807 46
+$881,675 49
58.41
$44,762 68
.
Interest, discount & exchange
Sundry adjustments of oper¬
ating expenses
4
,
3
26,099 92
3,611 12
1,087 87
+ 173,900 08
—2,523 25
’""Yd,boo” 66
$310,907 74
2,376 00
—2,376 00
$83,268 92
+$227,638 82
..$3,476,575 21 $2,822,538 54
$1,757,060 69 $1,411,974 75
+$654,036 67
+$327,018 33
+18,067 61
+$345,085 94
Deduct—
bonded debt
$551,510 00
One year’s Interest at 4% on
Bonds
Income
declared
from operations of fiscal
year ended June 30 1909,
and paid in October 1909..
One year’s Interest at 4% on
Income
Bonds
declared
from operations of fiscal
year ended June 30 1910-
Interest
on
loans
Cifeisl
$551,510 00
_
179,960 00
inSHfeisr
;.tSjd,r4 -d
-TLlS ■a
.
«>»** ** *
i
13,890 00
'
+$179,960 00
—13,890 00
$911,430 00
$745,360 00
+ $166,070 00
$845,630 69
$666,614 75
+ $179,015 94
$850,427 49
$666,614 75
+ $183,812 74
$241,084 40
$87,221 51
+ $153,862 89
179,960 00
i_
debts
Additions, betterments and
new equipment
Equipment written off as
valueless
Mezqulte Branch, net debit
4,796 80
+4,796 80
.
136,865 60
+ 136,865 60
.
written off
Surplus
-..
gfe -4
179,960 00
*
Reserve for doubtful
written back
31,387 17
—31,387 17
$377,950 00
$118,608 68
+ $259,341 32
$472,477 49
$548,006 07
—$75,528 58
Your attention is invited to Tables 8 and 10 for details of
passenger and freight traffic.
The freight traffic operations for the fiscal year show an
increase of 473,877 metric tons in the volume of freight
handled,
or 32.7%, as compared with
increase in earnings of $1,777,351
the previous year, and
17, Mexican currency,
or 30.49%.
The average number of kilometers each ton of
freight was hauled shows a decrease of 3.16%.
an
It will be noted from the following brief statement that
with the exception of agricultural products there were in¬
creases in the various subdivisions in classification of
traffic,
viz.:
Increase. Decrease.
(Tons.)
34,329
Forest Products
Agricultural Products
(Tons.)
1,951
Live Stock and Animal Products
Mineral Products
General Merchandise
Net increase
The
due to tne
1909-1910.
Maintenance of Way and Structures
28.17
25.87
40.29
5.67
Maintenance of
Equipment
Conducting Transportation
General Expenses
100.00
100.00
'
is due principally to the generally
improved physical condition of the property, and to the use
of heavier cars and engines of greater capacity.
Your atten¬
tion is invited to Table No. 8, from which will be noted the
increase in average tons per train and average tons per loaded
car.
For details of operation of the Transportation Department
Tables Nos. 8 and 9.
The results for the year, as well as the financial condition
of the property, are shown in the statements of accounts
see
prepared by the General Auditor, and which are included in
this report.
The books and accounts, as in previous years, have been
audited by Messrs. Price, Waterhouse & Company, of Lon¬
don, New York and Mexico, copy of whose certificate as to
the correctness thereof is incorporated in this report.
III.
ADDITIONS,
BETTERMENTS
AND
IMPROVE¬
MENTS.
Table No. 6 of this report
for additions, betterments
gives the details of expenditures
and improvements during the
year, the total amount thereof being $518,470 17, Mexican
currency, from which there has been deducted the sum of
$36,301 36, Mexican currency, representing credits from a
small portion of track material, etc., taken up on the Hondo
Branch, leaving a net expenditure for these accounts of
$482,168 81, Mexican currency.
During the year new steel bridges of some importance
were built near Leona (Bridge 67-A) and between Silencio
and Blanco (Bridge 92-A) and at Topo Chico (Bridge 11 It A)
on the Monclova
Division, as well as a number of small
permanent bridges to replace temporary structures at various
points along the line.
During the year some 62.150 kilometers of track have
been laid with 75-lb. rail in substitution of rail of lighter
weights, and on the Torreon Division about 19 kilometers
of 54-lb., and a corresponding distance of 75-lb. rail were
taken up and re-laid, the one substituting the other on two
different sections of the track.
There was an increased mileage of side and passing tracks
during the year, and the charge under this heading amounts
to $166,205 36, Mexican currency.
A new cut-off track of approximately 6 kilometers was
commenced in December 1909 between Anhelo and
work is progressing satisfactorily.
Paredon;
During the year under review considerable work was done
sinking new wells, constructing and strengthening reser¬
voirs, etc., with a view to improving the water service.
in
473,877
IV. CAPITAL. :
It will be noted from Table No. 4 that for addition^, better¬
ments and improvements during the year, an airlount of
products is due to
heavier importations of lumber; also to a change in the classi¬
fication of Guayule, which, for the fiscal year under review,
has been included under the head of forest products instead
f agricultural products, in which class it was previously
s
from the
3,923
419,522
18,054
increased movement of forest
carried. +
The apparent
57.56
»
seen
The decrease in expenses
Cur¬
silver dollar
50 cts.
50 cts.
Amount of net revenue
$1,738,287 60 $1,411,269 27
Interest collected on open ac¬
counts
18,773 09
705 48
on
22.46..
23.90
46.31
7.33
—10,000 00
Average price realized for the
Interest
14.89
23.19
3.26
Conducting Transportation
__General Expenses
foregoing, Maintenance Expenses
absorbed 31.11%, and Operation, 26.45%, of the gross
earnings.
The percentage of the total expenses of the sub-accounts
is shown in the following statement:
+ 45,057 19
U. S. Currency—
'
1909-1910.
16.22
Maintenance of Way and Structures
Maintenance of Equipment
1908-1909.
45,057 19
_
Mexican
+ $23,580 80
20,000 00
|
Reserve for doubtful debts.
Forfeiture of Branch Line
Concession
Net Revenue,
rency
As will be
$21,181 88
Rental Coahuila Coal Ry
20,000 00
Duties on imported Company
material in excess of the J '
' •
kilometric allowance
200,000 00
Total
1908-1909.
13.07
13.91
26.96____
4.27
Receipts over working ex¬
penses
..$3,786,093 45
Income from investments—
1,389 50
Total
results from this service for the ten months to June 30 1910
have been satisfactory.
Table No. 7 gives in detail the working expenses of the
property. The percentage of working expenses to gross re¬
ceipts was 57.56, as against 58.21 for the preceding year, viz.:
*
*
decreased tonnage in agricultural products
change in classification eferred to in the preced¬
$241,084 40, United States
has been charged to
Hi
Out of surplus earnings for the years ended June 30 1909
and June 30 1910, 4% interest on the Income Bonds, or a
total of $359,920 00, United States currency, was duly paid
“Profit and Loss."
currency,
to the holders of these bonds.
.
Iff1 C8
1458
THE CHRONICLE
[VOL.
V. FUNDED DEBT.
There have been
changes in the Funded Debt of
no
Company during the
year
your
under review.
VI. GENERAL REMARKS.
The property has been maintained in good physical con¬
dition during the year and quite up to requirements.
The average kilometers operated, gross earnings, average
earnings
kilometer, and average earnings per mile, for the
years 1884 to 1905, inclusive, for the six months January to
June 1906, and for the fiscal years ending June 30 1907
to 1910, inclusive, are shown in the following table:
per
Year 1909-10...
Year 1908-09...
Year 1907-08...
Year 1906-07...
6 Months 1906..
Year—
1905
1904
1903
1902
1901
1900
Average
Gross
Kilometers
Earnings.
(Mex. Curr.)
Operated.
...1,461.61
.1,477.46
_..1,477.66
...1,473.06
...1,436.83
__
...1,421.93
...1,416.44
...1,415.93
.1,397.44
...1,364.42
...1,289.92
...1,185.53
...1,060.60
...1,060.60
...1,011.02
—
1899
1898
1897
1896
1895
1894
...
...
947.23
922.19
$8,920,854
6,953,284
8,281,565
8,572,770
4,037,532
03
49
66
13
82
6,519,161
6,891,196
7,091,827
6,496,161
5,960,824
5,378,977
4,645,559
3,497,073
3,034,126
2,900,925
2,664,126
2,169,131
41
88
24
58
06
33
29
97
04
33
08
47
Average
Earnings
per Kilometer.
$6,103 44
4,706 24
5,604 51
5,819 70
2,810 03
4,584
4,865
5,008
4,648
4,368
4,170
3,918
3,297
2,860
2,869
2,812
2,352
73
15
60
61
76
01
55
26
76
30
54
14
Average
Earnings
Per Mile.
$9,822
7,569
9,019
9,365
4,522
57
60
35
72
17
7,378,20
7,829 57
8,060 36
7,481 04
7,030 60
6,710 88
6,441 91
5,306 31
4,603 86
4,617 69
4,526 28
3,785 29
Year—
1893
1892
1891
1890
1889
1888
1887
1886
1885
1884
Average
Gross
Kilometers
Earnings.
(Mex. Curr.)
$2,050,934 01
2,095,726 14
1,197,856 55
1,126,366 41
911,698 51
656,781 41
237,394 13
185,150 25
153,916 18
103,307 98
Operated.
922.19
_
_
LXXXXl.
Average
Earnings
per Kilometer.
2,226 15
2,807 89
1,819 69
1,745 64
1,432 73
1,144 28
867
676
562
421
Average
Earnings
Mile.
per
73
76
59
49
3,579 04
4,518 67
2,924 02
2,839 77
2,305 64
1,841 47
1,396 43
1,098 11
905 39
612 37
At June 30 1910 there wese
3,192
of your
Company, of which 231, or
employees in the service
7.24%, were foreigners.
Under authority given at special
meetings of the stock¬
holders of this Company, held on October 18 1909 and
April 29 1910, and under deed of sale and conveyance duly
executed as between this
Company and the Ferrocarriles
Nacionales de Mexico (National Railways of
Mexico), the
latter assumed control and took
possession of all the railway
lines, fixed and movable property, including rolling stock, of
your Company, on June 30 1910, and will operate same from
that date as part of its
system.
Under the same date the Ferrocarriles
Mexico (National Railways of Mexico)
outstanding assets and liabilities
By order of the Board,
Nacionales
de
assumed all of the
of this
Company.
E. N. BROWN, President.
[ForB^aneeSheet, Income Account
of “Chronicle,*’
page
1383.1
and Traffic Statistics, see last issue
UNITED FRUIT COMPANY.
ELEVENTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDED SEPTEMBER
30 1910.
Office of the United Fruit Company,
131 State Street, Boston, Mass.,
November 17 1910.
Your Board of Directors submits the following report of
the Company's business for the fiscal year ended
Sept. 30
1910:
Total net earnings for the year, after deducting $679,551 96
were:
From bananas and miscellaneous tropical fruits
From the sugar business
$3,943,802 92
1,968,491 57
Net earnings
Miscellaneous income
$5,912,294 49
640,282 19
Total income—
Deduct Interest on debentures.-
$6,552,576 68
260,583 33
Balance, net income for the year
$6,291,993 35
Against Income there have been charged the four regular
dividends of two per cent each, aggregating
1,877,472 00
Balance, surplus for fiscal year—
$4,414,521 35
was brought forward from the close of the
previous
year a surplus of..^
12,006,804 60
There
,
Making the total amount at credit of Income account.
$16,421,325 95
Direct charges have been made against Income account as
follows:
Extra dividend of 10 per cent paid Nov. 15
1909
$2,134,000 00
Special charge for depreciation
500,000 00
2,634,000 00
$13,787,325 95
BETTERMENT EXPENDITURES INCLUDED
OPERATING ACCOUNTS.
IN
CURRENT
These items are in effect a provision for
depreciation over
and above the provision regularly made
through the mainte¬
nance accounts.
The liberality of the allowances made under
this head is attested by the fact that the inventories of
the
Company's properties disclose
in
excess
an actual value $2,273,277 86
of the value at which the properties are carried
on
the books.
Betterments charged to
counts for the
past year
are as
follows:
current-operating
ac¬
For new banana and cane fields
.$259,095
For farm, office and commissary buildings at
tropical divisions 168,875
For railways and railway equipment
79,103
For tramways
157,216
For boats, wharves, telephones, &c., at tropical divisions
15,260
72
71
43
90
20
$679,551 96
TROPICAL DIVISIONS.
The
Company's sugar mill at Banes produced 143,657,720
pounds of sugar and 2,359,872 gallons of molasses. The
output for the previous year was 120,120,340 pounds of
sugar and 2,770,688 gallons of molasses.
The Hotel Titchfield, at Port
Antonio, Jamaica, was de¬
stroyed by fire early in January 1910. In view of the popu¬
larity of this point as a winter resort, arrangements have
been made for rebuilding, and the new
structure, with ac¬
commodations for 130 guests, will be ready for
occupancy
early in the year 1911.
Cash on hand Sept.
Current Liabilities
80 1910
$1,696,781 35, represent mainly
fruit, and are considered good for
was
CAPITAL STOCK
Capital
This
INCOME ACCOUNT FOR THE YEAR.
Balance, surplus. Sept. 30 1910
Accounts Collectible,
balances due for sales of
their face value.
To the Stockholders:
expended for betterments,
CURRENT ASSETS AND CURRENT LIABILITIES.
..$3,667,323 23
2,165,479 19
AND
FUNDED DEBT.
Stock
$23,474,000 00
registered in the names of 6,181 shareholders,
indicating an average of 38 shares owned by each.
The outstanding capital stock was increased within the
year by the amount of the new shares, $2,134,000, issued
to stockholders under the terms of the
Company’s circular
was
dated October 12 1909.
Since Sept. 30 1910 there has been issued
$1,125,000 in
additional stock in exchange for the balance of the shares in
Elders & Fyffes, Limited, thus giving your
Company owner¬
ship of the entire capital stock of that*corporation.
The authorized capital has been increased from
$25,000,000
to $35,000,000.
Funded Debt.
There has been
change within the year in the funded
debt, excepting that occasioned by the maturing of $160,000
of the Company's 5% serial debentures.
no
INVESTMENTS.
Nipe Bay Company.—The Nipe Bay Company's sugar mill
produced 137,196,740 pounds of sugar and 2,870,334 gallons
of molasses, as against 91,888,400
pounds of sugar and
2,673,808 gallons of molasses the previous year.
The Northern Railway Company has continued at heavy
cost the substantial reconstruction of the
roadway and struc¬
tures on the lines of the Costa Rica
Railway Company
Limited, which were damaged by the floods referred to in
last year’s report.
Tropical Fruit Steamship Company, Limited.—Four steam¬
ships, the Almirante, Santa Marta, Metapan and Zacapa,
referred to in the report for 1909 as having been contracted
for, have been delivered by the builders and placed in service.
These are of 5,000 tons gross register, with accommodations
for 112 first-class passengers, and are supplied with the most
approved devices for proper handling and carriage of fruit.
Three additional steamers, generally similar in dimensions
and appointments, have been contracted for, and will be
placed in service early in 1911. Another steamship, the
Greenbrier, was purchased to serve as an auxiliary.
This will make a total of seventeen vessels owned by this
Company, specially equipped for its service. The superior
passenger accommodations and freight service which they
afford are appreciated by tourists and by shippers.
Elders & Fyffes, Limited.—The banana trade in Great
Britain and Europe continues to develop satisfactorily and
to call for continual enlargement of the transportation and
marketing facilities of Elders & Fyffes, Limited. That Com¬
pany now owns and has in service 10 modern steamships,
fitted especially for its fruit transportation service,
plying
between England and Caribbean ports, and will shortly put
into service 2 others
now
under construction.
Respectfully submitted by order of the Board of Directors.
ANDREW W. PRESTON, President.
Not. 26
THE CHRONICLE
1910.]
1459
COMPARATIVE BALANCE SHEET SEPTEMBER 30 1010 AND 1»0».
ASSETS.
1910.
“A” to “E”)__
Plantations and Equipment (See exhibits
Current Assets:
Cash
Accounts Collectible
1909.
$24,708,499 79
$3,667,323 23
1,696,781 35
$2,724,069 49
1,731,546 48
5,364,104 58
Notes Receivable
Advance Payments:
908,488 61
542,063 00
256,386 95
5,052 00
*1,512,593 91
592,125 14
738,198 03
$45,033,752 97
$40,756,493 72
$4,277,259 25
$23,474,000 00
$21,340,000 00
$2,134,000 00
Unpaid Coupons
Nlpe Bay Company Advances
Northern Railway Company Advances
Tropical Fruit Steamship Company Advances
Nlpe Bay Company Common Stock.
Nlpe Bay Company Ten-Year 6% Debentures
167,040
4,357
1,512,593
3,227,461
3,730,992
1,449,528
72,665
1,904,545
443,042 00
07
75
91
16
95
57
96
63
Unclaimed Dividends and
-
3,819,586
4,469,190
1,449,528
1,478,665
Investments
$1,018,871 04
$943,253 74
*34,765 13
4,455,615 97
985,105 00
Charters, Wharfage and Steamship Supplies
Miscellaneous
Increase.
$23,689,628 75
30
98
57
96
2,497,632 84
—
89,346 88
694 25
1,406,000 00
593,087 21
LIABILITIES.
Capital Stock
Funded Debt:
J4% Sinking Fund Debentures, due July 1 1923
5% Serial Debentures, due June 1 1909 to 1918
4
$4,250,000 00
Zl,282,000 00
Unclaimed Dividends and Unpaid Coupons
Current Liabilities:
Accounts Payable
Drafts
Dividend payable Oct. 15
$4,250,000 00
1,440,000 00
5,532,000 00
5,690,000 00
5,802 00
*158,000 00
5,707 75
$914,700 11
781,299 08
469,480 00
*$158,000 00
$760,863 82
454,505 05
426,800 00
2,165,479 19
94 25
$153,836 29
326,794 03
42,680 00
1,642,168 87
523,310 32
Q
Interest Accrued not Yet Due on Bonded Debt
Income Account (Surplus)
.
»
69,145 83
13,787,325 95
71,812 50
12,006,804 60
*2,666 67
1,780,521 35
$45,033,752 97
$40,756,493 72
$4,277,259 25
The Company’s Insurance Fund Asset of $687,210 84, shown on page 18 [pamphlet], Is not Included In the above balance sheet.
•
Decrease.
* $160,000 of these debentures matured on June 1 1910, all but $2,000 of which have been
presented and paid.
COMPARATIVE STATEMENT OF INCOME ACCOUNT FOR THE FISCAL YEARS ENDED SEPT. 30 1910 AND 1909.
Net Earnlng3
Miscellaneous
1910.
arising from the production and Importation of tropical products
1909.
$5,912,294 49
Increase.
$3,871,832 65
516,816 81
$2,040,461 84
$6,552,576 68
260,583 33
$4,388,649 46
220,770 83
$2,163,927 22
39,812 50
$6,291,993 35
1,877,472 00
$4,167,878 63
1,707,042 00
$2,124,114 72
170,430 00
$4,414,521 35
12,006,804 60
$2,460,836 63
10,036,449 87
$1,953,684 72
1,970,354 73
Total Surplus
Extra Dividend of 10% paid Nov. 15 1909
$16,421,325 95
2,134,000 00
$12,497,286 50
$3,924,039 45
2,134,000 00
Balance
Less:
Direct Charges
$14,287,325 95
$12,497,286 50
500,000 00
490,481 90
$1,790,039 45
9,518 10
$13,787,325 95
$12,006,804 60
$1,780,521 35
Income.
640,282 19
Total Income
Lessr^Ifcterest
on Bonds
Balance, Net Income
Dividends Declared (see foot-note)
Surplus for fiscal year
Surplus Income at close of previous
3
year
td Profit and Loss
Balance, Surplus
Dividends.
Four quarterly dividends were declared and charged to Income Account during the year, viz.:
Dividend paid Jan.
15 1910, 2%
“
*•
**
“
**
“
April 15 1910, 2%
July 15 1910,2%
Oct.
123,465 38
$469,198
469,314
469,480
469,480
.
__
15 1910.2%
1
00
00
00
00
$1,877,472 00
This item represents a
Direct Charges to
special allowance for depreciation
Pro]it and Loss.
$500,000 00
EXHIBIT "A.”-—COMPARATIVE STATEMENT SHOWING THE BOOK COST OF THE COMPANY’S PLANTATIONS AND
ITS TROPICAL DIVISIONS FOR THE FISCAL YEARS ENDED SEPTEMBER 30 1910 AND 1909.
Costa Rica.
Lands
Houses and Buildings
Cultivations
Live Stock
Tools and Machinery
'
_.
_
—
Railways
Telephones
Wharves, Lighters, &c
__
.
Merchandise (Stores)
Material on Hand
.
Sugar Mill
Cuba.
1909.
1910.
1910.
Jamaica.
1909.
1910.
EQUIPMENT AT
Honduras&Guatemala
1909.
1910.
$5,051,946 $4,905,215 $1,944,721 $1,943,461 $1,112,328 $1,009,682
413,765
413,765
301,305
290,477
193,225
182,523
1,350,362 1,461,023 1,233,861 1,457,276
496,117
484,806
316,069
217,865
276,705
264,946
184.128
159,333
47,791
47,791
80.532
80,532
49,409
48,209
984,238 1,026,929 1,402,589 1,380,489
82,152
82,152
60,355
60,355
12,841
11,168
16,524
16,524
468
468
58.533
23,633
224,066
223,826
77,902
188,191
189,814
82,196
79,103
90,220
46,499
152,750
66,252
125,986
48,228
38,136
1,287,532 1,287,532
1909.
$70,048
194,690
469,657
10,370
3,536
255,626
5,948
15,181
39,174
11,398
$151,816
423,392
4,332
3,536
198,658
4,120
8,165
43,234
10,520
$8,459,690 $8,448,322 $6,770,436 $6,947,702 $2,496,402 $2,324,299 $1,075,633
Republic oj Colombia.
Lands
Houses and Buildings
Cultivations
Livestock.
Tools and Machinery
__
_
_
_
_
_
Railways
Telephones.
Wharves, Lighters, &c
Merchandise (Stores)
Republic oj Panama.
1910.
1909.
$283,082
7,894
$246,082
115,059
18,843
8,669
9,000
105,059
16,453
8,669
9,000
1910.
7.894
'
1909.
1910.
254.421
786,598
43,533
3,563
2,168,278
405
405
$957,929
'27,707
21,396
4,978
963
85,115
208,966
173,744
85,115
191,815
214,347
$475,234
$415,519
$5,431,101
$4,706,009
_
Material on Hand
Grand Totals.
$957,929
269,421
1,086,598
52,077
3,563
2,593,278
:
Sugar Mill
1909.
$9,420,057
1,380,303
4,751,656
$357,685
437,601
1,287,532
1,300,898
4,718,156
765.302
192.303
4,865,509
92,574
341,210
607,561
456,207
1,287,532
79,405
33,500
34,050
1,200
461,377
3,500
42,155
24,601
dl8.605
$24,708,499
$23,689,628
$1,018,871
799.353
193,503
5,326,886
96,075
383,365
632,163
d Decrease.
EXHIBIT “B.”—COMPARATIVE STATEMENT OF LANDS OWNED AND LEASED BY THE COMPANY ON SEPTEMBER 30
Acreage.
Total.
1910.
1909.
Costa Rica
39,645
Cuba
Guatemala
46,767
Jamaica
Republic of Colombia.
14,257
5.355
Panama..
30,638
42,967 136,199 123,951 175,844 166,918
44,761
43,503 45,497
90,270 90,258
9,650
68,197 40,350
80,549 50,00012,045
19,925 17,591
34,182 29,636
5,244
24,677
6,021
30,032 11,265
« 9 OKA
9A
28,530
43,588 53,048
*
“
Total
Acreage.
Location.
Unimproved.
12,352
149,014 143,197
1910.
1910 AND 1908.
Lands Leased.
Location.
Improved.
Increase.
$9,062,372
The Item of Railways Includes 88.48 miles of tramways In Costa Rica, 42.54 miles In Panama and 38.31 miles In Guatemala.
Lands Owned.
$847,775
| 1909.
305,45lj257.928
1910.
Improved.
1909.
454,465 401,125
1910.
Jamaica
Total
.
•
1910.
1909.
■*
.
.
3,516
8,904
3,835
9,388
12,420
13,223
Total.
1910.
12,489
1,206
12,583
| 1909.
4,989! 5,041
21,393j 21,971
13,962
13,789
26.382
3
Costa Rica
•rviiu;
Unimproved.
1909.
1,473
27,012
•
—
Total Acreage, Lands
'
Owned and Leased 161,434 156,420 319,413 271,717
•
480.847|428.13
1460
THE
2Tlie
CHRONICLE
VOJL
%imzs.
COTTON.
Friday Night, November 25 1910.
THE MOVEMENT OF THE CROP as
indicated by our
telegrams from the South to-night is given below. For
the
week ending this
evening, the total receipts have reached
393,380 bales, against 413,466 bales last week and
375,754
bales the previous
week, making the total receipts since
Sept. 1 1910 4,083,412 bales, against
COMMERCIAL EPITOME.
Friday Night, Nov. 25 1910.
Trade reaches fair proportions, which
is only another way
of saying that there is still room for
considerable improve¬
ment.
The iron and steel business seems to hesitate.
Con¬
servatism is still in the air.
Collections are reported fair
to good and a bright feature is the bountiful
crops of grain.
LARD on the spot has been weak at a further decline in
for the same
period of
1910 of 5,052 bales.
prices, due to falling prices for live hogs. Trade has been
Receipts at—
quiet at the decline. Prime Western 10.85c., Middle West¬
ern 10.70c. and
City steam 1034°• Refined lard has also Galveston
fallen, owing to the weakness of live hogs at the West and Port Arthur
Texas City, &c__
dulness of trade.
Refined Continent 10.90c., South Ameri¬ New Orleans
can 12c. and Brazil in
kegs 13c. The speculation in lard Mobile
Pensacola
futures in the local market has been dull and
featureless, Jacksonville, &c.
with prices somewhat easier.
At the West the trading has Savannah
Brunswick
been active, with the trend of
prices still downward in the Charleston
main, owing to the weakness of the live-hog market, dulness Georgetown
on the spot,
Wilmington
selling by large packers and general liquidation. Norfolk
DAILY CLOSING PRICES OF LARD FUTURES
IN NEW YORK.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
November delivery
10.60
10.00
10.20
10.00
Holl9.80
January delivery
-10.35
10.20
10.20
10.15
day.
9.95
May delivery
9.92
9.75
9.85
9.85
9.80
DAILY CLOSING PRICES OF LARD
FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
November delivery
10.50
10.20
10.07^10.00
Holl9.85
January delivery
9.97 H
9.85
9.80
9.77 M
9.60
day.
May delivery
9.57 M
9.52 34
9.50
9.50
9.45
PORK on the spot has been
easy in tone, but without
quotable change in prices. Trade has been quiet. Mess
$19 50, clear $21 @$22 50 and
family $24. Beef has been
quiet but generally steady, owing to the smallness of supplies.
Mess $15 50@$16, packet
$17@$17 50, family $19 50@
$20 and extra India mess $30 50.
Cut meats have been
quiet and as a rule easier. Pickled hams, regular,
113^@
14c.; pickled bellies, clear, 15@18c. and pickled ribs 14@16c.
Tallow has been quiet and easy;
City 7%e. Stearines have
been dull and easier; oleo 10c. and lard
12J^c. Butter has
been quiet and easy;
creamery extras 30^c.
Cheese has
been quiet and firmer;
State, whole milk, colored, Sept,
fancy 15)^c. Eggs quiet and steady; Western firsts 31 @35c.
OIL.—Linseed in the local market has ruled
steady with
trade quiet.
At some Western points prices have been easier
though trade there has remained small. The receipts of
seed at the Northwestern markets have
been light.
City,
raw, American seed 97@98c.; boiled
98@99c., and Calcutta,
raw, $1 03.
Lard has been quiet for most
grades with trade
moderately active, but prime has been dull and weak with
consumers disposed to await a
further, decline
Prime
95c. and $1; No. 1 extra
65@70c. Cocoanut has been firm
for Ceylon at
9^g@9%c. with a moderate demand; Cochin
is still out of supply.
Olive has been quiet and firm at
90@95c. Corn active and firm at 7@7.05c. Codfirmerwith
a good
demand; domestic 44@46c.; Newfoundland 48@50e.
COFFEE on the spot has been active and
firmer.
Rio
No.
7,
13J^@13Mc., and Santos
13^@13^c.
No. 4,
Buyers in various parts of the interior have requested
prompt
shipment of purchases. West India growths firmer and
more
active. Fair to
good CucUta 14@1434c.
The speculation in
more or less
excited, and
large scale has caused irregularity at
January
February
SUGAR.
March
April
May
June
10.35c July
10.36c. August
10.36c. September
10.34c. October
Raw has been quiet and firmer.
follows:
io.3ic.
10.30c.
10.27c.
10.18c.
Centrifugal,
96-degrees test, 3.93c.; muscovado, 89-degrees test,
3.43c.,
and molasses,
89-degrees test, 3.18c. Refined has been
quiet
steady. Granulated 4.60c. Teas have been
quiet
and
generally firm. Spices firm with a routine demand from
grind¬
ers.
Hops moderately active and firm. Wool quiet and
steady.
PETROLEUM has been in moderate demand
from
do¬
foreign consumers and prices have ruled firm.
Refined, barrels 7.40c., bulk 3.90c. and cases 8.90c. Gaso¬
line has been
moderately active and firm; 86 degrees in 100gallon drums 1834c.; drums $8 50 extra.
Naphtha in fair de¬
mand and steady;
73@76degrees in 100-gallon drums 16%c.;
drums $8 50 extra. Spirits of
turpentine easier at 79c. Rosin
has been quiet and
steady; fair to good strained $6 10.
TOBACCO.—There has been a good business in binder of
late, as manufacturers of cigars have been disposed in not a
few cases to anticipate
requirements, owing to unfavorable
reports regarding the crop. The general market for
domes¬
tic leaf has been rather
quiet. Sumatra and Havana have
been in fair demand.
Prices have ruled firm.
; COPPER has shown only
slight changes.
have been made of late at
12J4@13c. for
Small sales
12.8734c. for electrolytic and 1234@12^c. forlake, 12.85@
casting. It
largest melters have provided for their re¬
quirements up to the first of February. Lead has been
quiet
and steady at 4.45@4.55c.
Spelter has been quiet and easy
at 5.80@5.90c.
Tin has been quiet and
firmer; spots
36.95c.
Iron has ruled
steady. No. 1 Northern $15 75@
$16 26 and No. 2 Southern $15
25@$15 75.
is stated that the
Wed.
14,925
25,690
14,354
11,935
2,000
1,632
-
18,079
w
-
14,572
9,882
3,380
2,856
1,824
3,072
8,202
3,112
5,800
231
279
263
288
14,299
698
244
13,278
-
_
603
—
Philadelphia
14,354 104,069
6,441
6,441
12,509 12,509
15,802 92,323
893
11,778
6,075
264
1,383
58,326
3,57l
18,000
16,594
2,500
3,670
1,730
5,095
17,986
39,426
149
149
494
158
5,355
9,251
Total.
7,873
18,000
3,791
-
2,920
2,217
7,408
Fri.
18,133
2,051
6,075
875
9,341
-
Thurs.
18,358
4,474
-
158
318
1,691
5,978
5,978
—
—
—
Totals this week
52,926
61,142
77,892
62,026
46,515
92,879 393,380
The following shows the week's total
receipts, the total
since Sept. 1 1910, and the stocks
to-night, compared with
last year:
1910.
Receipts to
Nov. 25.
This
week.
1909.
Since Sep
1 1910.
This
week.
Galveston
104,069 1 ,547,172
Port Arthur
6,441
64,766
Texas City, &c.. 12,509
120,028
New Orleans.
92,323
519,422
11,778
6,075
1,383
58,326
18,000
16,594
Pensacola
Jacksonville, &c_
Savannah
Brunswick
Charleston
Georgetown
Wilmington
Norfolk
N’port News, &c_
158
544
261,934
287,633
1,721
1,839
6,258
40,832
149
494
New York
Boston
Baltimore
1,691
5,978
Philadelphia
8,885
393,380
1909.
204,501
259,400
163,518
153,031
52,922
52,942
155,622
18,931
44,465
174,081
14,557
37,660
42,821
18,576
31,740
723
133,123
55,415
2’, 741
25,782
7,090
976,446
32
58
160,993
7,914
15,281
1,255
235,076
292,025
19,555
170,804
607
32,586
6,247
2,511
977
635
3.890
921
3,866
25,460
19,138
4,318
173,664
552
Total
1910.
7,981
112,131
23,797
9,335
798,506
105,841
181,653
17,986
39,426
Stock.
Since Sep
1 1909.
84,373 1 ,389,436
39,017
1,8 94
20,282
36,701
538,940
Gulfport
Mobile
4,083,412'204,284 4,078,360'
913.408
133,985
2,254
18,541
10,948
908,438
In order that
we
comparison may be made with other years,
give below the totals at leading ports for six seasons:
Receipts at—
1910.
Galveston
Pt. Arthur,&c.
New Orleans.
Mobile
Savannah
Brunswick
1909.
104.069
18,950
92,323
11,778
1907.
164,826
9,997
90,906
19,585
49,915
10,649
8,509
20,873
29,376
15,621
393.380
204,284
58.3 6
18 .00 )
—
Charleston,&c
16,752
17,986
39,426
_
Norfolk
149
All others
Total this wk.
1908.
84,373
1,894
36,701
8,885
25,782
7,090
6,890
7,914
15,281
1,255
8,219
86,028
10,264
93,807
12,153
63,629
6,679
7,104
1906.
1905.
103,657
7,399
74,646
9,359
45,031
9,428
7,098
16,200
26,418
3,225
20,149
322,610
168
273
8,849
12,968
136,988
2,946
97,467
14,590
61,687
18,475
7,442
16,433
26,098
1,091
7,621
413,653
333,317
390,838
18 367
22,045
Since Sept. 1. 4,083,412 4,078,360 4,368,485 3,299,982
4,265,197 4,036,203
The exports for the week
ending this evening reach a total
311,933 bales, of which 137,758 were to Great Britain,
33,263 to France and 140,912 to the rest of the Continent.
Below are the exports for the week and since
Sept. 1 1910.
of
\
Week
and
mestic and
Tues.
203
N’port N., &c
10.35c.
10.35c.
10.35c.
10.35c.
13,796
1,662
4,078,360 bales
increase since Sept. 1
an
Mon.
•
Boston
Baltimore
though profit-taking on a
times, the tone of the market on the whole has
December
1909, showing
New York
Wilmington.
November
Sat.
16,667
N’port News, &c.
future contracts has been active and
remained strong,
with sentiment
among many in the trade still bullish, owing
to unfavorable
crop accounts from Brazil and reports of
small supplies of old coffee.
Closing prices were as
LXXXXI.
ending\Nov. 25 1910.
Exported to—
From Sept. 1 1910 to Nov. 25 1910.
Exported to—
JBiJFJH/rio
from—
Great
1
Conti¬
Britain.'Fr’nee
Galveston
Port Arthur...
Texas City, &c.
New Orleans..
Mobile
Pensacola
nent.
Total.
Great
Britain. France.
Conti¬
Total.
nent.
23,079 11,732 70,057 104,868
5,800
5,800
8,515
8,515
45,710
14,923 60,633
1,300
7,722
9,022
75
6,000
6,075
522,867 167,599
15,441 14,572
98,906
242,869 25,180
11,601
7,405,
9,207
9,963
434,173 1,124,639
34,753
64,766
2,143
101,049
89,620 357,669
13,921
32,927
4,727
23,897
Savannah
Brunswick
Charleston.
25,972 5,690 30,785 62,447
Wilmington...
14,105
5,500
150,323 45,561
29,848
6,000
9,900
83,393 19,290
10,345
175,335
37,126
59,192
107,389
153,807 44,914
38,048
8,398
2,800
24,537
86.584
2,763
30,170
1,040
_
Gulfport
------
Newport News
*
9,992
22,646
5,500
Philadelphia..
'“846
2,332
2,640
1,000
4,591
3,i78
2,049
2,640
3,049
4,591
•
-
-
.
2,977
-
•
-
.
—
-
-
2,977
.
.
.
-
Total 1909...-
-
•
-
Portland, Ore.
Total
285",305
40,811
41,368
25,937
—
San Francisco.
Seattle
Tacoma
Pembina
Detroit
61
66,974
75,092
210,072
10,406
....
New York....
Boston
Baltimore
Portland, Me..
9,992
8,54l
....
371,219
—
•
-
•
-
-
-
—
—
----
—
—
137,758|33,263|l40.912|311,933 1,405,590
59,42849,2541 68,780177,462
—
15,349
11,561
1,757
400
—
... -
15,349
11,561
1,757
400
—
—
347,184 1,108,424 2,861,198
1,112,937!548,884 !l,193,58912,855,410
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.
Nov. 26 1910. j
THE CHRONICLE
On
Shipboard, Not Cleared for—
Nov. 25 at—
New Orleans..
Galveston
Savannah
Charleston....
Mobile
Norfolk
New York....
Other ports
12,097
55,320
....
Leaving
Total.
57,085
3,450 110,347
1,100
3,200
500
350
25,000
3,000
60,377
48,793
34,983
53,056
25,198 260,040
31,080 284,650
28,972 338.774
l", 564
3,546
2,500
15,000
l’,806
i",66o
Total 1910.. 99,633
Total 1909.
77,712
Total 1908.. 100,100
26,039
56,580
61,484
84,295
95,162
19,232
l‘,20d
106,433
94,155
152,422
36,965
39,746
13,354
167,164
653,368
623,788
712.508
interests which sold persistently for
many weeks
the present week, it is said, sold less freely, if
they have not been quietly buying to some extent. Spin¬
ners have bought futures.
Wall Street houses and the up¬
town element have also been buyers for the long account.
In
addition to the reduced crop estimates in certain quarters,
bulls have been encouraged by reports of an active business
at Manchester with India and China and very good transac¬
tions for Mediterranean and South American markets.
Also,
spot prices at the South have been generally firm. As to the
reduced crop estimates, they are predicated, it is supposed,
partly on the Census report which appeared on Monday,
Nov. 21, stating the ginning up to Nov. 14 at 8,764,153 bales,
against 8,112,199 for the same time last year, 9,595,809 for
the like period in 1908 and 7,300,655 in 1907.
The figures
up to Nov. 14 this year were somewhat smaller than had been
expected by some, and the report was the signal for a jump
in prices of 30 to 40 points.
At first the Liverpool market
seemed
placed
inclined
dissent from
to
the
bullish
on
to
10,000 bales.
Prominent Southern interests
ports are persistent that the recent freezes did a good deal
of damage.
On the other hand, on the advance there
has been considerable hedge selling for Southern account and
whatever they may have done within a day or two large spot
interests were heavy sellers in the fore part of the week. The
certificated stock here, moreover, is steadily rising, the gain
thus far this month approximating 62,000 bales, and it is
understood that the December notices will be of large volume.
December and January at times have hesitated noticeably to
follow in the wake of other months, and some conservative
people do not regard this as a favorable factor in the situa¬
tion.
There are still those, too, who believe that the crop is
12,500,000 to 13,000,000 bales and that the present relatively
high prices discount anything at all credible in the bullish
argument, especially as the cotton goods trade in many parts
of this country is in anything but a satisfactory condition.
At times there has even been some talk of possible curtail¬
ment this season.
To-day prices again advanced. The spot
markets were reported firmer and more active, Liverpool ad¬
vanced, the spot sales there increased, spot interests, spinners
and commission houses bought and shorts covered.
Spot
cotton has been quiet.
Middling closed at 15.10c., an ad¬
vance for the week of 60 points.
The rates on and off middling, as established Nov. 16 1910
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
c.
1.60
1.30
on
Middling
Basis
on Strict low, mid
0.26 oil
1.10 on Low middling
Middling fair
0.60 oil
Strict good mid
0.66 on Strict good ord
1.05 oft
Good middling. .L .0.44 on Good ordinary
1.75 oft
Strict middling
0.22 on Strict g’d mid. tgd.0.35 on
c.
The official quotation for middling
New York market each day for the past
Nov. 19 to Nov. 25—
Sat.
14.55
Middling uplands
NEW YORK
14.60
9.45
11.20
11.20
11.75
9.70
11.30
Good mid. tinged.c Even
Strict mid, llnged.-0.15 o£f
Middling tinged.. .0.25 oft
Strict low,Mid.ting.0.60
Low mid. tinged—1.50
oft
oft
Middling stained.. .0.75 off
upland cotton in the
week has been:
Tues.
Wed.
Thurs.
Frl.
14.85
14.95
H.
15.10
QUOTATIONS FOR 32 YEARS.
15.10 1902.C
1910.C.
1909-.1908--.
1907...
1906...
1905.
1904...
1903-.-
Mon.
14.80
8.50 1894.C...
..
1901
1900
1899
1898
1897
1896
1895
..
8.00
.10.25
7.75
5.44
5.81
7.62
8.62
...
._
_.
..
..
1893..
1892
1891
1890
1889
1888
1887
.
6.00
8.12
...10.00
8.12
9.44
...10.50
9.94
...10.50
...
...
...
...
...
1886.C
1885
1884
1883
1882
1881
1880
1879
9.19
9.44
..10.44
..10.50
..10.56
..11.94
..11.50
..12.38
..
..
MARKET AND SAL]ES AT NEW YORK.
Spot Market
Closed.
Futures
Market
Closed.
Sales of Spot and Contract.
Spot.
Saturday. Quiet, 5 pts.
Monday... Quiet, 25 pts.
Tuesday
Quiet, 5 pts.
Wednesday Quiet, 10 pts.
Thursday
Quiet, 15 pts.
Friday.
.
.
...
Total..
adv~
adv__
adv_.
adv..
Consum’n.
Con¬
tract.
P$
IK?
.
II
II
H*
II
I
1
.
II
II
II
II
II
|©
II
II
b
t\S
OI«l
1—
•**
|
1
b
|@
|@
4* it*
4*
ew
ewew
4*
4*
HA
ewtss
00
|
it* it*
4*
b©
MO
ew 1
OS
HA HA
*-
it* it*
•ts-
oo-4
oo
00
1©
|
1
1
.
4* 4*
bb
os 05
OS OS
i-
ew
4*
|@
HA HA
HA HA
S-
4*4*
4*4*
4*4*
4*
1
OOO
oo oo
*J®
as
too
MG*
*100
OS
1©
1
|
|@
1©
1®
I
1
HA HA
HA
4*4*
4*4*
4*
bbs
05 OS
00 4*
4*00
b |
H* HA
HA HA
4* 4*
4* 4*
4*4*
ew 4*
O oo
bb
bb
1© T@
HA HA
HA
HA HA
H*
HA HA
HA HA
HA HA
**
it* it*
it*
4*4*
4*
4* 4*
4*
4*4*,
4*4*
4*4*
CO CO
OO
4* OS
bo 1
ew 1
*i -a
oo oo
OS OS
OS OS
bb
OO
to to
oooo
H* HA
HA ha
HA ha
HA HA
H* ha
HA HA
H*
4*4*
4*4*
4*4*
4*4*
4* 4*
4*4*
4*
«**
00 OS
4* CO
*ib
OS 4*
OS 4*
b
4* OS
OSCW
ewos
00
b*i
b
0-4
CtfCW
CO
00-4
1©
1©
|
|
1®
1®
1®
1®
HA HA
HA HA
HA HA
HA
HA HA
HA
HA ha
HA HA
HA
it*
it* it*
4* it*
4* ew
4*
4* 4*
4*
4*4*
4*4*
4*
oo
oo
b |
tv» 1
oo oo
ewoo
*1
OS os
OS OS
OS©
b
II
Lew
eo«o
cw
CKO
CKCK
II
II
HA HA
HA HA
H*
It* it*
CW it*
ew
©ew
M14
O 00
4*0
1©
|@
1
1
OM
HA HA
ew 4*
4*
©
ob
4*
00 4*
1®
4* 4*
4*
b
0*1
’*1
o
05 o
*1
1®
1©
1©
*ieo
©
I
HA HA
1-4
4*4*
4*
1
*1 os
© t\j
bb
b
©to
tsJ
|@
|©
HA
HA HA
HA
HA HA
HA
HA ha
HA ha
HA
CKCW
ew
ewew
ew
4* 4*
4*
4*4*
4*4*
4*
os
o®
©
HA HA
© 1
ob
*1
*1*1
b*l
’as
it* CW
os OS
os
o*-*
►-*
ewew
o
M 4*
O'-1
cw
1
11
1
?t
1®
HA HA
1
|
Nov.
DAY. HOLI¬
II
II
|©
11
II
|©
II
II
II
II
II
II
II
II
HA HA
HA HA
it* it*
ewew
ew
5T"*j
to l-*
b
t-*ew
CW W
OS
1© j©
|@
II
II
|@
II
II
|
**
I
1®
HA HA
HA
It* it*
ewew
ew
coco
to OS
b
oo
*i©
-4
HA HA
1
1 1-1
1
»t*
4*
1
24.
H* HA
i-
ewew
ew
coi-»
to
to
Os©
T®
1
1
1©
HA HA
*-*
ewew
ew
i-*b
©
1®
HA
HA HA
ewew
ew
bea
b f
4* 1
HA HA
I
|
h* ew
1
A-
1
4*
4* 4*
4*4*
4* 4*
bb
© ©
*100
bb
to
to OS
to os
HA ha
1 1-1
ew
b
"to
o
OS
OS
Ox
1©
|@
|@
i©
1©
HA
??
4*
4*
4*
*
11 ®
co
11 os
®
1 ®
|@
1®
|©
it*
ew
ew
4*
ew
1 ®
1 «
b
ew
11 08
05
11 1-1
oo
1
|
1 1
1
ew?
1 *■*
4*
1©
I
§•
tog
it*
|@
©
•
1 4-1
to
1
1
HA
1
1
1
4*
1
1
1
4*
HA
1
4*
HA
Thursday,
§ 3,
1® T©
© l
ew
®
© to
T® T®
ew
©
1
b"*l
ew
i-*
HA HA
>4
HA
4*4*
b‘*l
ewew
ew
HA
HA HA
4* 4*
bob
HA ha
b
HA
HA ha
4*4*
HA HA
b
HA
HA HA
HA HA
ro
ew
1
HA
1
4*
1
S'
<5
•
4*4*
|©
to
to
1
HA HA
1
it* 0*.
1
|
I
HA HA
1
1
|1
OS
HA HA
1
to®
1©
HA
II
1
|l
|®
1®
1
00
s|
1©
HA
I
^
os©
HA HA
b»
*
1
*1
HA ha
©o
K
d
|©
HA ha
1-*
b it*
II
Os
HA HA
4*
II
too
I
i—*
II
"to
05
ew
O t\S
II
4*
4*
HA HA
|@
4* 4*
bs b
4*4*
it* it*
1©
HA
4*4*
4* ew
4*0
•U it*
II
PS
H- HA
bb
ewew
©ew
HA HA
II
PS
.
4*
4*4*
II
II
PS
H* HA
trq
OS
|©
1©
Nov.-
it*
HA
II
II
1
£
QSf-i Cl R
ss I ss i SS 1
4* 4*
HA HA
II
|@
1©
HA HA
|©
|@
1
HA HA
b |
© 1
|@
HA HA
|© I®
HA
b 1
CW 1
II
SB
p«S
PS 1 w.®
IK?
I?
.
II
II
g
p
HA HA
1
II
II
oo
4*
00 OS
T©
1
bb
HA HA
ll* £*
II
o
£
S
S
it* it*
|©
H* HA
I”
ISS
oS
(K?
£
l“*
H*0
|@
i|§
§
HA HA
fS3
1©
&
1 •-*
1
4*
b
1
3
$
i-1
THE VISIBLE SUPPLY OF COTTON to-night, as
made up by cable and telegraph, is as follows.
Foreign
stocks, as well as the afloat, are this week's returns, and
consequently all foreign figures are brought down to Thurs¬
day evening. But to make the total the complete figures
for to-night (Friday), we add the item of
exports from the
United States, including in it the exports of Friday only.
November 25—
1910.
Stock at Liverpool—
Stock at London
Stock at Manchester
bales.
..
_
Total Great Britain stocks
Stock at Hamburg.
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
_
.
.
—
_.
1909.
840,000
7,000
56,000
1908.
1907.
547,000
12,000
35,000
649,000
17,000
45,000
699,000
5,000
165,000
154,000
2,000
8,000
35,000
903,000
6,000
182,000
313,000
2,000
8,000
48,000
1,000
594,000
18,000
324,000
194,000
4,000
15,000
21,000
6,000
711,000
369,000
560,000
582,000
658,000
3,000
38,000
—
Total Continental stocks
'
16,000
146,000
116,000
4,000
12,000
14,000
28,000
336,000
Total European stocks
1,068,000 1,463,000 1,176,000 1,047,000
India cotton afloat for Europe
80,000
60,000
50,000
46,000
Amer. cotton afloat for Europe..
737,861
897,486
900,231
878,070
Egypt,Brazil,&c.,aflt.for Europe.
Stock in Alexandria, Egypt
Stock in Bombay, India
Stock In U. S. ports
Stock in U. S. Interior towns
U. S. exports to-day
__
91,000
236,000
176,000
913,408
711,879
61,123
63,000
82,000
217,000
199,000
225,000
92,000
908,438 1,051,282
697,759
820,980
37,572
1,957
68,000
185,000
289,000
837,922
466,892
19,662
Total visible supply..
4,075,271 4,534,640 4,408,065 3,837,546
Of the above, totals of American and other descriptions are as follows:
American—
Liverpool stock
bales.
Manchester stock
Continental stock
American afloat for Europe
U. S. port stocks
U. S. Interior stocks
U. S. exports to-day
Total American
559,000
26,000
343,000
737,861
913,408
711,879
61,123
763,000
448,000
50,000
30,000
533,000
535,000
897,486
900,231
908,438 1,051,282
697,759
820,980
1,957
37,572
548,000
34,000
256,000
878,070
837,922
466,892
19,662
3,352,271 3,851,640 3,823,065 3,040,546
...
East Indian, Brazil, &c.—
Liverpool stock
;
_
London stock.
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock In Alexandria, Egypt
Stock In Bombay, India
Total East India, &c
Total American
.
99,000
3,000
12,000
26,000
80,000
91,000
236,000
176,000
77,000
7,000
6,000
27,000
60,000
82,000
199,000
225,000
99,000
12,000
5,000
47,000
50,000
63,000
217,000
92,000
101,000
17,000
11,000
80,000
46,000
68,000
185,000
289,000
58 5,000
723,000
683,000
797,000
.3,352,271 3,851,640 3,823,065 3,040,546
Total visible supply
4,075,271 4,534,640 4,408,065 3,837,546
Middling Upland, Liverpool
8.10d.
7.62d.
5.08d.
6.18d.
Middling Upland, New York
15.10c.
14.80c.
9.45c.
11.70c.
Egypt, Good Brown, Liverpool..
11 13-16d. 12 Hd.
9 3-16d. 10 9-16d.
Peruvian, Rough Good, Liverpool 10.75d.
9.25d.
7.90d.
12.00d.
Broach, Fine, Liverpool
jixV-:
7Xd.
7Kd. 4 13-16d_
5«d.
Tlnnevelly, Good, Liverpool
7 9-16d. 6 15-16d. 4 ll-16d.
6Hd.
Continental imports for the past week have been 232,000
; s '
'•
-
Firm
bales.
v The
above
s
—
....
*V**$*j
HOLI DAY
adv.. Firm
SgSSB1 ss
P<§ orqP'S™ (K?PS?
oq
II
5s
S.
.
Total.
Barely steady
Barely steady
Barely steady
it*
c
are
still identified with the bull side, though two well-known mem¬
bers of this contingent who had been here for many months
have returned to New Orleans. From parts of the South re¬
Fair
Strict mid. fair
Co
s
construction
the ginning report, but finally took an upward
course, and its tone of late has been noticeably strong, and
though for a time its spot sales were small, on Friday they
rose
o
a
43,129
Speculation in cotton for future delivery has been more
active at rising prices, chiefly owing to a tendency to reduce
crop estimates.
Most of these of late have ranged from
11,200,000 to about 12,000,000 bales. The average esti¬
mate of 170 members of the New York Cotton Exchange is
11,927,000 bales, the range of estimates among the members
being from 10,650,000 to 13,000,000 bales. Some prominent
interests for a long period identified with the bear side have
latterly, it is understood, liquidated their transactions on
that side of the market and bought freely for long account.
Various
spot
have during
FUTURES.—The highest, lowest and closing prices at
New York the past week have been as follows:
Stock.
566
18,940
24,653
1,000
7.500
13,176
19,232
6.500
43,000
7,716
_
Coast¬
wise.
Foreign
15,200
14,531
1,100
10,282
12,393
7",666
Other
Ger¬
many .
Qreat
Britain. France
1461
100
100
100
100
.
figures for 1910 show an increase over last week
Of '!203,297 bales, a loss 'of-<‘459,369 bales from 1909, a
decrease of 332,794 bales front 1908, and a gain of 237,725
bales
over
1907.
o
PS
“
pr
Hp <1^jrb/vh.®i!§§« qirt- Crf *goc ^CD 3«*■ S'"O *<0~0 d-3P4CDPP <?ob BT S’P'g. Bp fpct- raf- jhjCO
7
CO
“
B
S’
£5
•c
-
“
Si,
pP
2
Hj
5.
®g
3i.CD
c
300
&5
P
|
CO
5g
Stocks Nov. 26. 3,818 20,94 7,030 19, 25 47,46 1,30 23,271 20,637 60,365 1 ,081 5,3 9 4,828 2 ,497 5,920 21,974 19, 0 12,021 7,748 16,963 14,180 3 ,359 7,49 1,40 1,871 1,53 3,21 6,50
186, 43
N21ov9em06b.r
429
506
468 643
1,726 4,1 6 1,292 4,262 2,029 3,374 5,62 1,257 1,163 2,9 6
Ship- ments. Week.
467
O erf-
P
£
GO
400
800
2,195 2,864 4,60 2,4 3 1,423 1,159 13,831 5,35
600 226
21,429
1,185 2,091
745
208
•il
5,630
10 ,35 697, 59
53, 26 1,41 145, 30
pr>
r
f
i
j
x
a
:
«
p
H
*Olh>—iMkH iih°rOOSSH* os
Season.
1,02967 2,984632
Motveomnt Recipts. Week.
588
500
268
321
3,1 6 5,810 3,067 5,354 3,721 3,6 7 10,205 2,070 1,274 2,13 3,026 1,365 3,945 5,0 0 2,803 1,070 2,463 2,57 3,6 5
17,915
700
625 233
31,419
247
1,072 2,0 0
5 ,975 1,391
3w
po
P
p
«
OS
r
O
?S
0e+O Hrf, P
B
179,58
H
GO e/r~CPf\ Jrf-H^j Hhh®»o Hrf,^ hj g > w W crf‘. SSe^P^ K*«
^
p
o
CD
CS
HA
►—1 1
M*
^[rj ^ 2-2*0 aw ^
Oo
sio P
HJ
Jar S
O
3^
O
CD
p
o
*^P
3
co
T3
P
No21ve9m5b0r. Season,
223
5?
0.
©a
2 ?
M<j»
l ?8
0
k
Nov.
fD. a let
K
to
365
1
>3
a
tvS
300
150
4,961 4,910 4,0 0 15,60 3,444 12,610 12,0 8 3,0 5 2,3 0 2,131
734
10,247 2,505 3.680 5,815 5,519
822
494
2,532 2,543 35,043 6.680
76,593
429 200
630
1,829 3,0 0
1
•
ci
ife
•fe
fe.
tvs tvs© tvStvS
tvS 1
o©
wife
w©
Of
MW
w
©
w©
1
cs©
1
I1
Towns.
I
©®
3,2 9
92,768 4,820
mm
Hi
TS T- •fe .
1 cscs OsfcA
1
1
|
1
M
■
1
1
Wife
©©
ha
O0M
w
©tvs
^A ife is] ©00 1
©oo 00
00
HA
ife
1
M
<0^i ha 1
ha ife
Hi
1
ife
I
g®
HA
*
HA
©©
1
HA
•fe
©bo
ha
w
tvS
WW
©o
©o
H| 1
©H*
®b
MM
H|
HA
tvs© MA^| 1 to ife
w
w
1
I
|
M
1
1
1
55
1
*
•fe
CD
MB
2
j—i fe.
Hi 1 CSCS w HAfA
w
cs
HA
tfe
1
ife
W
MAHA
*
Vi tVS
C+
aa
j1
*
w
bio
MAMA
©O
—i
tS5M
000 W
Wife
H*
1
1
1
!
*
w®
©HA
04
HA
Hi©
w
-
HA
■fe
HA© OlHj 1
w
w
HA
T P-
MAM* Oo
Os
1
yl
ci-cd
O
I
©®
•
tvs MAmJ l lulu ife
w
w
1
tvs
ife
b©
I
©H*
1
1
*©
w
1
1
s®
b©
tfe
MM
Cn
MA
coco
I
M
w
1
o®
II
*
w
H-
HASS H|H| 1 MA co
Wife
M*
e?rfr)
<•<
>-*
00
1
1
*
HA
e*
-f
South
Wife
1»i
ife
1
§®
tJ
1
1
aco
|1
*
H-A
tvs
5®
|
H*
a3
23
•
ag
if
<
>-a
oo
1
HA 00 fvTtvs HlO
w
w
•
H-A
os
tNS
r-+
COM
<
1
w®
•
H*
$8 aa
ww
WM
HA
00 l
w
w
l
MA
|®-
tvS
*<*<
ffl
P
$
—
o-®
S
P
erf-
CsSg “I's-Vw
0
P
g
erf
CD CD
'
HrJ
3
®
^
i
^
2
®
^
°*2
w
H
rily»ga® CDt—^4g.?g:p.to-S-1 SC9D <W(wogagahra,*rjaCmM siPw Iap*cO3kCDha.Sg.J§Hppo4 at*rp 1e-rf
g-S^i--SB-g HJoO2aHrf,
erf ST-S. CDerf hj* 0'S. CD*□0
co
H^
iM 2
S
%*T3
O9
3
B
m
CD
® w co
5'3
n
f«r
4
o
2
a
p
3
a
§ j+SCD
“
p
P.
CD
CD
■S
o p P*o
h-
p
p
a HJ
oji £?1 S:a“njvgs'rfi
t»
g
(X
_
s:
B
a
™
^
“
g
p
5=“
®
23
hi
^
?:
a 3S'*«? s;~3 3?®C."D HJ
g4
^p’ 4^2^pp—noho,baP*pw3PpQ. pt^o2e. .PoLOp^p0*os5i .SCHi^Bg' ZIMs.PCpO^erf r+S0'n^s™^f*lr3 □CD?
Ooq 00CD
PrCfeD. Hc.r,q Si^- (W ^Pi C•D K
r
~
^
erf
g
p
CD
.
Hr*
a
p
pea*
V
p
-
)
1
A
®
^1 erf®S s- 5o» I g.^CD *-e <
^
2^
§.
S*
_
*
<c
2“3
^
^
Cf P
®
SCO
S4
P.
CTQ
‘Si
g
‘
•
g
0.1
fr
CL P
P
p
p rrf’OSO.
®58
pp
oe Vic*
O
oe
rfrf
ttnvs tosvs 05
&s
tvs
05
Cl
O
Os
03
00 00
OS
CO
OS
00
P
tvs CDi—*
Hrf
ife
2
i:
rfs.
<
P
B.«
t
b
II
p*i
c
b*-tb to
09
HA
to OO
OS
on
or
COHj
to
HA
Aj
onblfe to
HlO A 69
Cn bblfe
00
<1
00
SO
O
09
HA
b
Vi
so
1
w
09
so
09
00
■vl
Hi
HA
tfe
a
to
Ife
Wg
-
®
H
P*
®
»
erf-
?
O m • 5© 2BIe.S-S<*■ cr^*OG 3a c® p O- j3Sn-2.?®fo a|8s*-">jOorfP- CO a?aB®a^oCD5<2(t> t»r2 _C3 »P® 3 cr»-
P- SOP® Brro4^(ftD*(6 Eg.® S«-$® pvp8.agtcg©' 2^® (W O- rn oP*cd^® SgP <*§erf- pcr ®H * 2oo POSA
w0
v»
p
MS
g
e
ffi
*
2
p <*
g-
a
p
P
®
M.
»
g”
»
°
p on 2
P
%
to
i
orq
©
o
S
N*sifLe. m -jq
P
<!
CO
CD
^ p
.
op
rt
*p
^
p
^
.
gS-g "4
9
erf
erf.
I
n- to®
crP O
§
o
M
co
®
2-
ct>
'
S.®
ca
a
o
CHrOf,
2
Cl
CD
CD
P
:
2
p
P4
Is-^
HJ
H*.
?
%i
erf-
o
sCDhj.
b>\ sr-55 pjg4'P
cd
CD
P'X
3“
ej
CD
S*^
Hj.
P4
3
§*3
”
•
,
>
—
Q
o
,
HS* ^Oerf qe«r*»f0^B.»3SiP?'erf®SfeHH-I O3v2n2g-*.p*3 "3*|2.®5gq«af- Perf3W?^o1-*d-Sj2.p g^pp.CPSD* ?*o'S2.gp rCHD. 2si0ipsa?“g-3«®^S4 od2,p peorf-3qoP4evo0.~®-g.Cp05 CT■.er?f
g
p
5*®
§
M
£L«5^
3
3
co
b
-
3
W B
*
H
al
I
a
00
pf
B.
?
#
E«
C
B
1
09
tfe
g*®
~ erf-
p 03®
^
?r«
-vl
-
CO
g-g*
'
*
o
l
o
f
a
t
5hi
^qerf-- *Hrof JTg SHrefr*fP5®“HIgftr\ g3 «i11u*a £W^2.s-H mvo>pP§3Too-. r?o aS.rfP3gO p«hj2 ^~CD g^<S. ,w PPerf *^p t3
,!»§< pPo pp*an?®
<©
.
3
_
£0
P
I
I
p-K
s
^
3
o
O-
P
w
rt
p
O brfS
®
^
x
CD
U
1
P
<
?EP
pa
a
§
X P
(Tl
p
*
wo
p-
P*
cd
erf
erf
ySa
BJ-
•
4
1
1
CD
<
to
b
?? h-p3<3oaaii “2. Chjh*Dj s r-f.^
>*
M
2
P
erf
CD
^<55
orf £.perf gfrtJ 2c* 22® 5 *rfMW<2
“2S CDCDCrtO CD_P‘2" <!,0 M
CD
i-1
_^Q
P
§
< B*
3
o
(V .1H,
©tOW 0 06 OSO
rfrf
OMO
©ife
^2-
5g, ©tCoo© an«so-vj »-gb»M OrflO_SS*r O.
tvS
OO!" to
WMO ©ife©
O
o
ts
CD
tvsoerf*. bbto Os00 OWrf
O
W
©
tvs
O
?S.o
1
g
a?r
ci
®
f
-
P4 S a go ®§-° erfgp4 HJ o.a® CD
W
H—
po
w
CD
«
CJIH* too
1
1
on 00 SO
os
0
CS
CS
09
09 tO
os
H*0
H*
o*j OS
to
CO
H*
09
ife
OSD WH*
WrfI
cso
to to
wto
to to w
1
1
Wi
w.1
wj
1 •41 ^11
H*
so
1
to 00 so *J to
1
1
1
1
Wi
1
os
1
09
1
cs; 1
00
1
to
001
5o§*obh|+jSt.-Pg#.»^ESS—2T-®H»O'd^ogpcrrS§.;§a0C-°PS^ 32.^4,^
©
“
H
*0 9
•-*>— o II Wo*H8§?S•* H*-^025 o~?
^
a O r-*~
P
cd
O
g-3
8
Z
•5
O
111
wi^vue,ts»oa0*Iv4jsq a>utMD<» “coas Co oWhs|IIl§ goor/a~?vSP<<8''-WMN' h*oc®m
pga^hl *>^ft p1 MCDy.O t—i£2* g(gg
*o CD O
®3§*i
Fp
n
O
_
**
2
►i
*r
a
^
to
P
O*rj
.
»-.
O
o
i_J
*D p X.np
_
5s
T3
c®
H<
lit
W©wlfe rfs.olebh0©H®wO rfsS, V*«b »w(hio_cd|tswo©
00QP9
Hj Pg
X-P*
£3.0 £*“3 *Q J“l-H W*M fv►j(W
2.
W
f?
o*
OP
bLC<vd. CJo° g8h,ppr»aJILhcrqj
o ©o'® § *,
P
a>© § g
o
a5
o
P
►I
..
BvF® ®3*0 Oerf-2
o
■
cS4*^
O r] 1
.IMN
h-*
a
cd
p CDW- CO <r^“ p<<jo HIrf* pp.erf p4 CDCD
Oi<;
P
M
awg
2,^
ST
BT
CW
^-(gvlSp, HjPfc-^;. OQqerfP'^co224^oPCfQPPCHDrf»
»o‘4*P
®
™P
°
p
°s.*3.
■■
(W
s
®
QO55
erf-
p
CO
!§!§? pli^° •g‘ar,
>a> > o'eraooo<<rfiCDCiCD NSN®CDCD*13 1O3 O O O *He*-» oq jc^inpppdppoo®ejcrresq?jCCDD 1«I
o*®.
o
o
<s<
<
CD
N
N
ID
CD
1-*
e*
pp
p
p
CD I
CD
crq
I
O(<Sssj ifer:f.
OS
s-rf
tvs
b
b
p
p
b
1v2
CD
09
w
•
®
cn
09 to
OS
1
P
P
SO
>fe
w
1
§
C5
HA
tfe
“
JS.^B
gfW CD
p®
p
Hj
•q
w
tfe
M
H
Grove, towns.
OS
00
CD CD
to
1
I
g®
|fe
HA
CD
2,t3
gg
to
I
tr
^
$
*b
MA
•fe
P.
§■» o
!®r°
«© ©©
M
I
*
a*to°
-ago B3WaosS* HC®32.^*SrJ am. g|3*-° ftt ^aH, iWa*3-«i§ ^o532t^opo o§5-|h3i»iH s*i.^g^a-E- •3i_j yg-H 3<Ho s-|gw B"> 2~»E: 5 Daa >*| £.5?®r§3^ W^C+45fscSrg.S«ifi_Os02>45.®?Hjftp2®3o ^3
Bh-® ^ .g*„a
5“ p
IsoP
Bg
BhP
O
P
g
S
.
'
f
®
O
O
<J3 <JS2ppT E«,S®PiS.i
<- ^pr1S?*q- s Si3.° P^po-esrf S'3^§sB3p«*. ®§oLS2,EL|>a o'® ^^2.1—2Ol£XOD 'C4CwD sbtcrf*S’&L iWS. HJrh5P.jCD 5-0?3 °03D3a SJ2<^£0 _ si^g4
toovi—fssse*. tvsbo w rrtofvfvss. 00Co6i-O0vs MrCHf>*O. MiseO f S cwnbeobsb 0sC*oJD O0CCJlI
OtIt—vv1SSsifebc*i)b"o OClo0s3SOS0tHv*rsJf COiOSt-*vSO0ifeS. boVic*-rf>e.bsOSotCvi-rsfOrtfSv“SJOs
Oev <g.|®
o1 s hha* c■vifoeos 05 tHAo*|t OhtOaO w so H| on hi HHAi C94A. tovsn os tfe hu . ^g-sr. ®P <h-.PC'OP£-a'g CSi'*D g®® ahjq O pa4?- *-• P(
PWO|cjgsaa|g. ’ Sgl-2 •JKi a■c1
Hifeto i
%
1
1
ife
1
I
©®
•fe
1
32 ,206
ib
ftgsa
00 w
O©
bob
ha ife
w
Vi
HA
HA
•
ife
@
sE'< ^» 5sa*PS-^sr •a8m,&crp- "CDoCn<j OJf ; P05 ^gr.O' esg-fs» 3’ -Si 3^S3o* Crf“ ?§ POQOQ P4 "11—ri IfH rf*3 P-t3oP- oI
h^m
©HA
*4
WM
Hi
HA
I1
H|
OP4
“
1
HA ife h|
•
•fe
I
*
•fe
■feu.
ife
>fe
1
1
£n®
HA
H*
St.
§
w
w
fe.
HA
•ab
HA
ife
j1
•
•fe
®^CD
S*
<
1
Eufa l , Selma,Hel na,LRiotclek,Albany,Athens,Atlanta,Aug sta,Columb s,Macon,Rome,Louisvle,Shrevport,C lumb s,Gre nvile,Grenwod,Meridan,Natchez,Vicksburg,YCazitoy,Louis,Raleigh,Cinc ati,Grenwod,Memphis,Nashvile,Br nham,Clarksvile,Dalas,HoneyHouston,Paris, T33otal,
Montgmery,
W
1
1
1
K-A
Carolin. Carolin.Tense Texas.'
Ohio
00 ha ife
cn
M ife
bb ©0
■4
ife
HA
>fe
Mis ouri North
•
MA
at
HA
M* ife
M
HA
Kennteuctk.y,Louisan Mis pi
<
CO
Ife
OS
ife
•fe
j1
Alab ma Arkans Georgia
co erf
CD ^
f
55. tops M«t
11 b>-H •a©
1
w
©
HA
Hi HA ife
w
w
MA
1
wife
•fe
M* ife
MW
tvs
OS
•fe
•
•
•
1
fe.
1
©@
•fe
1
M
to
1
,31079
874
1
1
ri®
Ife
270,570
13,85 8 .538 61,7 0 30,813105,103 20,826 65,180 105, 62 16,10 36,8 0 37,2 0 24,349 2,757 62, 97 19,530 35,164 50,749 40.539 7,376 21,681 31, 73 159,690 5,742 58,576 9,685 40 ,2 4 1,979 7,3 6 29,657 56,40 27,3 2 78,046
Movtemont Rec ipts. Week.
1
71,89
240
4,0773,646 3,00012,810 4,810 1 ,32 10,191 1,275 2,171 2,371 3,400 1,631 1,534 4.758 2,329 734 1,615 2,131 3 ,946 1,134 6.759 301 56,712 "266 2,249 5,0 0 870 5,717
83,049
P
Z,
Sat'dc
25.
Ship¬ ments. We k.
2-ocw
P
®
£3
110
Stocks Nov. 4,651 31,8 8 15.252 13,13 41,438 1,40 16,897 19.253 81,7 8 16,432 9,068 3,690 26,219 7,085 21,012 18,735 15,947 3,437 12,710 13,1 7 13,75 1,010 7,9362,493 156,087 1,546 3,7005,273 1 ,0 0 3,204 8,1 3
124,510
1fe.WOitU
O
1
e*
14, 47 84,958 72, 83 37,168 102,41 20,965 76,374 90,354 26 ,421 36,745 4 ,687 24,397 3,254 64,031 17,293 41,767 50,525 3 ,181 9,897 25, 58 23,424 160,426 8,623 41, 28 9,895 431, 60 8,564 5,9 6 20,980 4 ,493 19,016 64,175
oa i
^.|Ul(rfetHV<> oXwtH*®il
•
g-5'
S
tvJO*4W? b i'cx.
THE CHRONICLE
Nov. 261910.]
1910.
Cotton Takings.
Week and Season.
SHIPPING NEWS.—As shown
TAKINGS OF COTTON.
WORLD’S SUPPLY AND
Week,.
| Season.
Season.
up
from mail and telegraphic returns, are
.
4,426,457
3,871,974
328,972
97,000
3,000
50,000
15,000
1,931,022
5,636,828
362,000
59,000
358,000
66,000
4,566,199
7,911,691 4,920,429
8,412,850
4,075,271
4,075,271 4,534,640
4,534,640
3,836,420
3,034,420
802,000
3.878.210
3.239.210
639,000
563,225
55,000
2,000
65,000
9,000
Nov. 25.
Bombay receipts to Nov. 24 —
Other India shlp’ts to Nov. 24.
Alexandria receipts to Nov. 23.
O.ther supply to Nov. 23 *
American In sight to
.
Total supply
Deduct—
Visible supply to
Nov. 25.
Total takings to Nov.
Of which American
Of which other
*
1.495,514
5,593,177
223,000
49,000
476,000
75,000
490.928
406.928
84,000
25
.....
—
in Europe from Brazil, Smyrna, West Indies,|&c.
Embraces receipts
INDIA COTTON
MOVEMENT FROM ALL PORTS.
1909.
1910.
November 24.
Sept. 1.
Week.
223,000
55,000
Bombay.
Week.
Since
Week.
Sept. 1.
362,000
97,000
Sept. 1.
43,000
138,000
Since September 1.
For the Week.
from—
1908.
Since
Since
Receipts at—
Exports
385.789
298.789
87,000
Great
Britain.
Conti- Japan
Great
Britain. nent. ACMna Total.
Conti-
Japan
nent.
& China.
Total.
1910
1909
1908
Calcutta—
1910
1909
1908
Madras—
1910
1909
1908
All others—
1910
1909
1908....
18,000 18,000
1,000
6,666 26,000 33,000
7,000 19,000
12,000
3,000
4,000
138,000
57,000
85,000
1,000
2,000
2,000
3,000
^
_
61,000
67,000
53,000
202,000
128,000
138,000
5,000
6,000
9,000
8,666
7,000
8,000
20,000
1,000
3,000
2,000
5,000
4,000
7,000
2,000
6,000
8,000
11,000
8,000
9,000
2,000
28,000
34,000
46,000
4,000
36,000
43,000
52,000
14,000
18,000
7,000
176,000
101,000
147,000
—
1,000
_
1,666
_
_
-
_
-
-
.
_
2,000
1,000
i,666
1.060
-
-
-
-
-
.
-
-
•
1,000
2,000
4,000
-
-
-
1,000
2,000
^
—
----
---.
-
1,000
1,000
w
....
Total all—
1910
1909
1908
1,000 18,000 20,000
1,000
6,000 26.000 36,000
4,000
9,000 24,000
2,000 13,000
1,666
61,000
68,000;
251,000
187,000
221.000
67,000'
RECEIPTS AND SHIPMENTS.
ALEXANDRIA
Alexandria, Eoupt,
November 23.
follows:
Total bales
To Antwerp—Nov. 22—Finland, 300
To Genoa—Nov. 19—Berlin, 1,082
To Naples—Nov. 19—Berlin, 200
Nov.
646
200
350
loo
300
1,082
500
22—San Giorgio, 300
GALVESTON—To Liverpool—Nov. 18—Ikbal, 13,221
13,221
To Manchester—Nov. 23—Anselma de Larrinaga, 9,859
9,859
To Havre-*-Nov. 19—Monomoy, 11,732
11,732
To Bremen—Nov. 18—Frankfurt, 8,403; Newton Hall, 9,052
Nov. 22—Imanl, 11,576; Mohawk, 13,436
Nov. 23—
51,341
Cayo Gltano, 8,874
To Hamburg—Nov. 18—Haraid, 833
To Christiania—Nov. 17—Noruega, 2,575—
To Barcelona—Nov. 19—Federlca, 4,529.
To Venice—Nov. 19—Federlca, 250
To Genoa—Nov. 19—Otta, 8,295
To Trieste—Nov. 19—Federlca, 2,234
PORT ARTHUR—To Liverpool—Nov. 24—Albano, 5,800
TEXAS CITY—To Liverpool—Nov. 23—Warrior, 8,515
NEW ORLEANS—To Liverpool—Nov. 21—Canadian, 19,910.
Nov. 25—Author, 8,000; Antillian, 8,500
To Manchester—Nov. 22—Cuban, 6,500
To Belfast—Nov. 23—Rathlin Head, 2,800
To Bremen—Nov. 23—Spanish Prince, 14,073
To Hamburg—Nov. 22—Caledonia, 850
MOBILE—To Havre—Nov. 21—Auchenarden, 1,300
To Bremen—Nov. 21—Auchenarden, 7,722
PENSACOLA—To Havre—Nov. 23—Ada, 6,000
To Antwerp—Nov. 23—Ada, 75
SAVANNAH—To Liverpool—Nov. 19—Sirocco, ll,554.._Nov.
833
2,575
4,529
250
8,295
2,234
5,800
8,515
__
1909.
1910.
This week
Since SeDt.l.
1
Exports (bales)—
To Liverpool.
To Manchester
To Continent
To America..
490,000
3,569.031
36,410
6,500
2,800
14,073
850
1,300
7,722
6,000
75
19,877
6,095
5,690
22,435
1,150
_
_
-
F
-
400,000
2,265,871
Sept. 1.
6.250
57,498
41,462 16,000
8,500
86,947
1.250
16,340
40,841
38,587
71,095
10,662
43,000 276 164 25,750 202,247 32,000
161,185
This
Week.
85 301
73 579
92 486
7,000
5,750
16,750
15,000
5,5L>0
24,798
Since
Sept. 1.
16,500
2,250
Since
•
Total exports
CENSUS BUREAU’S REPORT ON COTTON-GINNING.
—The Division of Manufactures in the Census Bureau com¬
pleted and issued on Nov. 21 its report on the amount of
cotton ginned up to Nov. 14 the present season, and we give
it below, comparison being made with the returns for the
like period of the five preceding years:
Counting Round as Half Bales
1910.
1909.
891,361
474,422
46,765
.Alabama
Arkansas
Florida
1908.
1907.
805,849 1,020,724
557,857
665,232
51,612
51,497
1905.
1906.
744,627
385,528
35,454
834,910
453,658
42,278
944,391
309,280
56,628
1,434,606 1,559,828 1,564,037 1,388,694 1,193,147 1,439,392
184,058
217,433
341,953
282,936
351,241
552,919
794,992
792,778
755,145
731,354 1,086,183
666,642
494,723
466,797
451,434
399,050
384,275
510,202
727.237
476,471
322,051
484,657
484,996
363,241
888,309
913,440
938,926
851,361' 654,458
912,603
192,213
243,493
139,959
183,529
142,661
156,152
2,636,944 2,104,329 2,863,328 1,705,529 2,995,791 1,826,125
38,370
43,700
46,751
19,573
30,331
33,588
Georgia
Louisiana
Mississippi
North Carolina
Oklahoma
South Carolina
Tennessee
Texas
All other States
8,764,153 8,112,199 9,595,809 7,300,665 8,562,242 7,501,180
United States
Total crops.
10073,731 13086.005 11057,822 12983,201 10495,105
Per cent ginned.
80.5
73.3
71.5
66.0
65.9
The number of round bales included this year is 91,939, against 123,757 a year'ago,
173,908 two years ago and 142,210 three years ago, and the number of Sea Island
bales 52,585, compared with 68,607 bales in 1909, 56,701 bales in 1908, 44,698 bales
in 1907 and 30,671 bales In 1906.
,
/
The statistics in the above report on the quantity ginned are subject to slight
corrections when checked against the Individual returns of the glnners being trans¬
mitted by mail.
The corrected statistics of the quantity of cotton ginned this sean to Nov. 1 are 7,345,953.
MANCHESTER MARKET.—Our report
received by cable
to-night from Manchester states that the market is firm for
both yarns and shirtings. The demand for both India and
China is improving.
We give the prices for to-day below
and leave those for previous weeks of this and last year for
comparison.
8M lbs. Shirtings, common
to finest.
d.
d.
1054
@
111-16(3
11
<3
1054
@
1154
11M
11*4
1154
s.
5
5
5
5
d.
s.
d.
Cot’n
Mid.
Upl’s
d.
d.
d.
s.
6
6
6
5
@10 754
7.81 1054
@
@10 9
8.00 1054
7.85 1054
@
@
1154 5
1154 5
1154 5
8.10 1054
@
11
@
@
@
s.
354@9
@
7
@10 9
6 54 @10 8
d.
1054 5
1054 5
1054 5
1154 5
7.88 954
8.25 10
7.95 1054
7.76 1054
@10 9
754® 11 0
7
Cot’n
Mid.
854 lbs. Shirtings, common
to finest.
32s Con
Twist.
9
@9 9
454@9 9
6
@9 11
4
Upl’s
d.
-
d.
7.27
7.41
7.37
7.71
wov
10W,6 @
101*16 ®
11
@
ii 54
<3
1U4 5
1154 5
1154 5
12
5
6
7
7
7 54
Malmo—Nov. 18—Simoon, 200
Barcelona—Nov. 23—Margherlta,
200
200
3,200
3,200
3,100
400
100
9,992
14,105
8,541
5,500
Trieste—Nov. 23—Margherlta, 3,100
Venice—Nov. 23—Margherlta, 400
Flume—Nov. 23—Margherlta, 100
CHARLESTON—To Bremen—Nov. 21—Catalone, 9,992
WILMINGTON—To Liverpool—Nov. 18—Bengrove, 14,105
To Havre—Nov. 23—Winnie, 8,541
.
NORFOLK—To Liverpool—Nov. 23—East Point, 5,500
BOSTON—To Liverpool—Nov. 22—Ivernia, 2,640
BALTIMORE—To Liverpool—Nov. 18—Vedamore, 1,000
To Bremen—Nov. 23—Brandenburg, 2,049.
PHILADELPHIA—To Liverpool—Nov. 18—Merlon, 3,889
To Manchester—Nov. 19—Manchester Exchange, 702
SAN FRANCISCO—To Japan—Nov. 22—Nippon Maru. 2,977.__
2,640
1,000
2,049
3,889
702
2,977
--..311,933
Sales of the week
bales.
Of which speculators took. _
Of which exporters took
.Ill,000
522,000
437,000
481,000
385,000
2,000
1,000
50,000
8,000
Forwarded
91,000
452,000
...364,000
142,000
Nov.
11.
51,000
1,000
1,000
43,000
5,000
102,000
514,000
429,000
168,000
147,000
Sales, American
Actual export
Total stock—Estimated
Of which American
Total Imports of the week
Of which American
Amount afloat
Of which American
Nov.
58,000
18.
Nov. 25.
48,000
1,000
45,000
2,000
2,000
39,000
4,000
124,000
658,000
559,000
212,000
176,000
448,000
361,000
1,000
42,000
4,000
106,000
575,000
491,000
171,000
143,000
501,000
400,COO
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Market,
12:15
P. M.
Saturday.
Monday.
Tuesday.
Dull.
Good
demand.
Quiet.
1
J
Sales
8,000
200
300
10,000
1,000
10,000
7,000
300
500
300
1
J
6,000
5,000
Market,
Quiet at
154@254
pts. dec.
Steady at
1354@1454
pts. adv.
Good
demand.
8.10
8.00
opened
Fair
business
8.04
7.95
1 Steady at St’y, unch.
to 1 point
2 points
advance.
J decline.
j
Friday.
doing.
7.85
Spec&exp.
4
P. M.
Quiet.
7.82
Mid.Upl’ds
Futures.
Market
Wednesday. Thursday.
•
Irreg. at
1@4 pts.
Irreg. at
1@4 pts.
Steady at St’y, unch.
advance.
advance.
to 1 point
advance.
Easy at
Very st’y at
1054@1154
pts. adv.
Quiet at
Firm at
54@2 pts.
pts. adv.
pts. adv.
2 54@454
pts. dec.
6@7 pts.
advance.
654@9
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The
below.
The prices are
Nov. 19
Mon.
Sat
Nov. 25.
12 54
p.m.
November
Nov.-Dee.
Dec.-Jan.
Jan .-Feb.
Feb.-Mch.
Mch.-Apr.
Apr.-May.
May-June
June-July
July-Aug.
Aug.-Sep
_
—
Thus, 7 63 means 7 63-100d.
given in pence and lOOffts.
1254
p.m.
7
7
7
7
7
7
7
7
7
7
7
Wed.
Tues.
Thurs.
Fri.
4
12 54
4
4
12 54
4
4
12 54
12 54
12 54
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
63
67 54 77
56
60 54 69
55
59 54 69
60 54 70
56
57
6154 71
58
62 54 72
58 54 63
72
63 54 73
59
58
62 54 72
55 54 60 54 70
48
53 5$ 39
74
54 82
54 68 54 66
73
72
74
75
77
77
78
77
74
51
77
68
65 54
69
66 54
67 54
70
54 71 54 69
69 54
54 72
54 72 54 70 54
54 7154 69 54
69
66
49 54 43 54
85 54 86
54
54
54
54
54
54
76
76
77
79
80
81
82
81
78
54
54 77
76
54
54 78
79
54 80
81
54 82
80
—
87
78
78
79
80
82
82
83
82
79
56
96 54
87 54
82 54 86 54
54 83 54 87 54
54 84 54 89
54 92
54 83
8554
54 86
86 54
8554
54 82 54
58 54
90 54
91
9154
90
86 54
62 54
1909.
1910.
32s Cop
Twist.
Hamburg—Nov. 22—Allanton. 1,150
Reval—Nov. 18—Kildale, 200
Nov. 4.
This
Week.
This
Since
Week. Sept. 1.
Manchester—Nov. 22—Luchana, 6,095
Havre—Nov. 22—Allanton, 5,690
Bremen—Nov. 18—Kildale, 11,200; Simoon, 11,235
LIVERPOOL.—By cable from Liverpool we have the fol¬
lowing statement of the week’s sales, stocks, &c.t at that port:
1908.
370,000
2,684,182
To
To
To
To
To
To
To
To
To
To
Total
Receipts (cantars)—
4
ii
18
25
as
,
NEW YORK—To Liverpool—Nov. 18—Arabic, 392 upland, 250
Sea Island, 4 foreign
To London—Nov. 18—Minnetonka, 200
To Bremen—Nov. 21—George Washington, 350
To Hamburg—Nov. 18—Bluecher, 100__
21—Zafra, 8,323
Bombay—
Oct
7
14
21
28
previous page, the
a
on
exports of cotton from the United States the past week have
reached 321,933 bales.
The shipments in detail, as made
1909.
Week.
1463
@10 10
@10 10i2
5
@9 11
@9 11
@9 11
@9 10
7.59
7.72
7.72
7.62
BREADSTUFFS.
Friday, Nov. 25 1910.
Prices for wheat flour have varied but little during the
week.
The trading of late has been on the smallest scale
witnessed for some weeks past.
The belief of consumers
apparently'is that purchases can be made to better advantage
later on.
Reports from various parts of the Northwest and
the Southwest have been of a pessimistic sort.
At the big
spring-wheat milling centres there has been a sharp decrease
in the output.
Shipping directions on old contracts have
been received at Minneapolis in fair volume, but new busi-
1464
THE CHRONICLE
ness has been dull.
Rye flour and corn meal have been
quiet and steady.
Wheat is .supposed to have been oversold. Certainly the
market is in
condition and news or rumors of a
bullish character tends to alarm the shorts. Of late, rumors
of damage to the crop in Argentina have been used with
effect in marking up prices despite the fact that there ports
in regard to the condition of the crop in that country are
a
short interest has been reduced to
To-day prices declined
some
extent
on
the rise.
reports of rains in Argentina, lower
cables, dulness on the spot, improved crop reports from the
winter-wheat belt, where beneficial rains have
latterly fallen
in some sections, bearish pressure and
liquidation.
on
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW
YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter
95 %
95 Vi
96 Vi
98
Holl97
December delivery In elevator
97 X
97
98 Vi
98 % day.
97 Vi
May delivery In elevator
103 34 103 34 104 34 104 J4
10354
DAILY CLOSING PRICES OF WHEAT FUTURES IN
CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
December delivery In elevator
90 %
90 %
91 Vi
9134 Holl90 %
May delivery In elevator
96 54
96 54
97 54
97 54 day.
96 54
July delivery In elevator
93 34
92 54
93 54
94
93 Vi
Indian corn futures in the local market have been
merely
nominal as a rule.
At the West the speculation has been
active, and, though the feeling there among many of the
trade is bearish, there has been nevertheless considerable
liquidation of short commitments at times which has im¬
parted firmness to the market. The receipts have not been
up to expectations.
The stock of contract grade at Chicago
is small.
The country has not sold
freely. It is reported
that the French import duty has been removed.
Yet, as
already intimated, many look for lower prices ultimately,
as supplies in the
country, both of old and new corn, are
heavy. To-day prices declined early on the fall in wheat,
favorable weather for handling the
crop, weakness on the
spot and bearish pressure; but later a rally occurred on cov¬
ering of shorts.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN
NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
Cash corn
57
nom. nom.
nom. Hollnom.
December delivery In elevator
54 34
53 54
53
54
day.
54 54
May delivery In elevator.
55 54
54 54
53 54
54 54
54 54
DAILY CLOSING PRICES OF CORN FUTURES IN
CHICAGO
Sat. Mon. Tues. Wed. Thurs. Fri.
December delivery In, elevator
44 54
44 34
44 34
44 54 Holl44 54
May delivery In elevator
46 54
46 54
46 34
46 54 day.
47 54
July delivery In elevator
47 54
47 54
47 54
47 54
4754
"
_
.
„
.
Oats for future delivery in the Western
market have
moved within narrow limits, the fluctuations
reflecting to
some extent the variations in corn.
Large cash interests
have covered freely of late.
On the other hand, the country
has sold more freely, hedge
selling has increased, and the
belief of some experienced people
is that prices
are
DAILY CLOSING PRICES OF OATS IN
NEW YORK
Tues- Wed- Tdurs. Fri.
Standards
37
37
37
37 54 Holl37 54
No. 2 white
37 54
37 54
37 34
38
day
38
DAILY CLOSING PRICES OF OATS
FUTURES IN CHICAGO
Sat.
Mon.
Tues. Wed. Thurs. Fri
December delivery in elevator
30 54
30 54
30 54
30 54 Holl30 54
May delivery In elevator
33 54
33 54
33 54
34
day.
33 54
July delivery In elevator
33 54
33 54
33 54
34
3354
Q.
™
.
.
„
The
.
following
Winter, low grades
Winter patents
Winter straights
Winter clears
Spring patents
Spring straights
Spring clears
.
are
4 70
4 25
3 75
5 25
4 80
4 25
Rye flour.
02J4
Rye,
Cents.
37 54
No. 2 white
No. 3 white
6 00
3 85
4 15
Graham flour
Com meal, kiln dried... 2
70@ 2 90
per
5254
Nominal
Nominal
bushel—
No. 2 Western
f.o.b.
State and Pennsylvania
38
37
84
81 @83 54
80 @84
Barley—Malting
Feeding, ci.f., N. Y._
Nominal
The statements of the movement of breadstuffs to market
indicated below
prepared by
are
from figures collected by
us
the New York Produce
Exchange. The receipts at Western
lake and river ports for the week
ending last Saturday and
since Aug. 1 for each of the last three
have been.
years
Receipts
at—
Flour.
Wheat.
Com.
Oats.
Barley.
Rye.
bbls.\96lbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. 6m.56 lbs.
Chicago
178,185
273,600
1,497,250
1,629,000
555,000
15,000
Milwaukee..
79,180
504,150
74,580
197,200
395.400
21,420
Duluth
18,000
822,385
72
18,987
245,735
17,984
Minneapolis
1,710,780
217,930
351,030
608.400
49.880
Toledo
25,000
36,600
48,000
Detroit
4,355
110 471
7,857
33,138
Cleveland
1,570
1,306
43,103
1,837
St. Louis...
56,740
342,892
152,175
447,100
106’, 400
1,145
Peorla
29.800
16,000
293.400
88,000
65,400
3,300
Kansas City.
397,200
104.400
98,000
....
..
"
Total wk. ’10
Same wk. ’09
Same wk. '08
362,830
4,101,170
4,981,363
7,461,247
2,529.981
2,149,697
2.680,708
6,022,313 115,182,351
8,041,305 132,632.049
8.021,270 127.783.119
54,635,166
47,791,364
468,517
515,145
Since Aug. 1
1910
1909.....
1908
2,912,292
2,971,955
3,362,287
1,976,335
2,110,846
2,131,752
108,729
179,157
148,576
80,073,598 28.257.779 2,458,262
70,280,000 35,159,114 3,425,234
68,953,973 39,941,352 3,305,515
35,974,898
Total receipts of flour and grain at the seaboard
ports for
the week ended Nov. 19 1910 follow:
Receipts
Flour,
at—
.
....
Baltimore
Richmond
New Orleans *
.
.
.
Newport News
.
Norfolk
Galveston
Mobile
Montreal
2,800
56,498
.
.
Com,
Oats,
Barley,
bush.
Rye,
bush.
457,400
58,177
248,464
218,909
23,758
57,800
4,815
20,000
158,523
38,000
133,000
bush.
613,325
90,325
140,827
24,973
37,500
42,800
148.050
23,000
6,000
3,888
24,098
1,000
152,931
bush.
197,447
54,882
59,145
49,277
4,082
38,739
10,447
2,569
.
Philadelphia
Wheat,
bbls.
New York
Boston
bush.
744,988
50
900
1,000
2,400
17,652
2,054
36,579
Total week 1910.
475,886 1,774,696
446,124
1,103,681
185,679
23.006
Since Jan. 1 1910. 16,456,992 69,065,811 36,179.945 45.214.582
3507,600 821,921
We^k 1909
536,255 3,184,171
801,210
1,356,906 302,052
16,586
Since Jan. 1 1909. 15,333,767 85,643,584 36,404.790 39,756.423
6381,730 1047,368
*
on
Receipts do not Include grain passing through New Orleans for foreign ports
through bills of lading.
The exports from the several seaboard
ports for the week
ending Nov. 19 1910 are shown in the annexed statement;
Wheat,
Com,
Flour,
Oats,
bush.
bush.
Rye,
bols.
bush.
bush.
747,451
302,722
57,411
86,379
18,494
34,000
14,636
21,500
10,447
2,800
44,000
12,600
633,905 234,825
238,191 277,961
15,110
10,211
Exports from—
New York
Boston
Philadelphia
106,000
163,833
Baltimore
New Orleans
Newport News
Mobile
Montreal
'
....
Total week
Week 1909
>
_
_
_
„
m
877,000
2,197,006
3,559,979
283,356
102,250
3,888
187,000
The destination of these
July 1 1910 is
as
Peas,
bush.
bush.
5,115
_
1,610
_
_
_
^
'
_
_
_
1,000
100
-----
149,196
5,215
8,569
exports for the week and since
Flour
Wheat
Since
Since
Week
July 1
Week
July 1
Exports for week and Nov. 19.
1910.
Nov. 19.
1910.
since July 1 to—
bbls.
bbls.
bush.
bush.
United Kingdom...132,502 1,624,953 1.187,007 14,598,823
Continent
38,352
706,110 1,003,389
8.349,642
Sou. & Cent. Amer. 38,630
431,047
6,600
118,392
West Indies
25,340
457,860
Brit. Nor. Am. Cols.
55,614
Other Countries
62,253
7,000
Total
Total 1909
Barley,
below:
Com
Since
Week
July 1
Nov. 19.
bush.
144,246
377.249
87,222
25,188
-
234,825 3,337,837 2,197,006 23,073,859
277,961 3,970,836 3,559,979 40.095,412
633,905
238,191
1910.
bush.
2,366,215
2.863.796
1,470.526
556,477
5,708
13,249
7,275,971
3.651,671
The world’s
shipments of wheat and corn for the week
ending Nov. 19 1910 and since July 1 1910 and 1909 are
shown in the following:
Wheat.
1910.
Exports.
Week
Nov. 19.
1909.
Since
Since
July 1.
Bushels.
Bushels.
North Amer. 3,928,000 45,731,000
Russia
6,528,000 103,312,000
Danube
2,256,000 62,520,000
Argentina
Com.
840.000
496,000
736,000
176,000
_.
Australian..
Oth. countr’s
1910.
Since
Since
July 1.
July 1.
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
63,682,000
195,000
170,000
97,432,000
9,672,000
850,000
13,072,000 2,295.000
20,296,000
21,440,000 )
f
13,928,000 ^27,844,000
1
3,934,000 i
The quantity
mentioned was
of wheat and
as
corn
91.746,000
67,141,000
afloat for Europe
on
dates
Com.
United
Kingdom.
Continent.
Total.
Kingdom.
Bushels.
Bushels.
Bushels.
Bushels.
40.400.000
Nov. 12 1910.. 18,352.666 23,176,666 41,528.000 7.880,666
Nov. 20 1909.. 16.240,000 15,360,000 31,600,000 3,655,000
Nov. 21 1908.. 17,440,000 13,040,000 30,480,000 4,335,000
Nov. 23 1907.
16.520.000 10,160,000 26.680,000 5,560,000
.
34,803,000
3.523.000
6,411,000
7,605,000
49,602,000
follows:
Wheat.
Nov. 191910..
6.978,000
3,177,000
46 788,000
\
14960000 261,161,000 211,702,000 3,510,000
Total
1909.
Week
Nov. 19.
United
FLOUR.
Kansas straights, sack.$4 60 @34 80
Kansas clears, sacks
4 00
City Datents
1
Cents.
No. 2 new, forward...
No. 2 mixed
f.o.b.
No. 2 white
f.o.b.
97
Hard winter. No. 2__
Oats, per bushel, new—
Standards
closing quotations:
$2 75
Corn, per bushel—
31 16 54
1 1554
Red winter. No. 2
likely to
to a still lower level before any material or permanent
rally takes place. Large receipts are expected by some in
the near future, their idea
being that oats will be shipped
to market in order to make
storage room for corn. To-day
prices were easier on the weakness in wheat, hedge
selling
and liquidation.
sag
_
GRAIN.
Wheat, per bushel—
N. Spring, No. 1
N. Spring. No. 2
nervous
by no means uniformly bad. But this much at least is
certain, that quotations at Buenos Ayres have risen sharply
and Broomhall of Liverpool, who is now in Argentina, reports
that in the Southern section of that country irreparable dam¬
age has been done to the crop.
Frost and drought have
been principally complained of.
English and Continental
markets have
also been
advancing. In this country
while the crop outlook is in the main considered favorable,
there have, as usual, been some complaints.
Some insist
that more or less damage is being done by protracted
dry
weather in the Southwest.
Then, too, the movement of the
crop has been on quite a moderate scale.
On one day the
total receipts at winter and spring-wheat points reached only
678,000 bushels, against 860,000 on the same day last year.
In parts of the West there has been some increase in the cash
demand.
Elevator interests have bought to some extent
and there has been a good deal of buying for short account.
As already intimated, however, Argentina has played a lead¬
ing part in the rise. One estimate of its exportable surplus is
as low as 82,000,000 bushels, as contrasted with some recent
guesses of as high as 125,000,000 bushels.
In the present
calendar year they are expected to reach about 75,000,000
bushels.
On the other hand, the cash demand in this
country has in the main been light, flour has been dull and
there are those who believe the
damage in Argentina is
exaggerated. The world’s available supply increased last
week 2,112,000 bushels, against an increase for the same
week last year of only 835,000 bushels.
The total world’s
available supply is now 201,200,000 bushels, or about
65,000,000 bushels more than at this time last year. Chicago
has a stock in public and private elevators of
10,671,000
bushels, or more than double the supply a year ago. The
(VOL.LXXXXI
Continent.
Total.
Bushels.
Bushels.
21,506,000
24,073,000
5,185,000 8,840,000
4,930.000 9.265,000
3,520,000 9,080.000
16,193.666
THE CHRONICLE
Nov. 2& 1910. j
supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Nov. 19 1910, was as follows: f
1465
1010
The visible
AMERICAN GRAIN STOCKS.
oats,
Cam,
Wheat,
New York
fyflrmt.
...
"
Rnat/in
_
...
_
Phll<ut»lnhlA
Baltimore
...
....
Toledo
...
Detroit
OtltCAgO
....
bush.
bush.
bush.
bush.
bum.
154.000
924,000
144,000
5,000
166,000
673,000
742,000
47,000
3,000
129,000
145,000
52,000
394,000
116,000
1,008.000
....
6,104,000
3,186,000
..-11,474,000
Minneapolis
St. Louis
...
Kathmm flltv
Peoria..
120,000
2,603,000
2,736.000
1,527,000
407,000
612,000
Milwaukee
Duluth
,
.
-
Tndtanannlls
.
On Lakes
On Canal and River.
Total Nov. 19
Total Nov. 12
Total Nov 20
—
-.
Balrey,
3,208,000
152,000
3.000
Buffalo
Rye,
2,331,000
4,143,000
10,000
530.000
1,395,000
355,000
1910—43,319,000
1910—41,889,000
1909-27,630.000
5,000
178,000
25,000
127,000
19—
Week.
1
__
China..
India
Arabia.
Africa
West Indies
Mexico
Central America
South America
Other countries
28
--
890,000
412,000
400,000
17,000
317,000
108,000
24,000
10,000
36,000
182,000
12,000
135,000
856,000
321,000
133,000
5,839,000
435,000
841,000
2,984,000
370,000
247,000
1,668,000
134,000
163.000
6,000
1,000
23.000
148,000
5,000
15,681,000
16,130,000
13,919,000
64,000
1,043,000
267,000
20,000
70,000
214,000
95,000
408,000
409,000
832,000
2,706,000
2,729,000
3,353.000
Rye,
Barley,
123,000
2,355,000
2,307,000
2,631,000
......
10,000
13,000
Com,
Oats,
738
1
—
Total
1909
Since
Jan. 1.
1,787
Week.
22
856
58,485
13,990
17
Since
Jan. 1.
1,805
JV1.056
82
946
24
212
2,164
183
29,056
1,824
12,217
45,672
44,068
3
298
48
382
571
1,083
166.473
15,924
25,295
14,843
36,977
1.606
12,736
48,080
21,134
4.374
227,973
2,952
345.929
-
■
CANADIAN GRAIN STOCKS.
Wheat,
New York to November
Great Britain.
Other Europe.
....
518
13,548
6,470
...
The value of these New York
exports since Jan. I has been
$16,091,266 in 1910, against $18,991,379 in 1909.
Orders for staple prints continue to be received in good
volume, and business in this line is relatively better than in
other domestics.
Bleached and brown sheetings are fairly
steady, but in li^ht request. Both dress and staple ging¬
hams are moving in fair quantities, with requests for prompt
deliveries more numerous, especially in dress ginghams, which
are reported well
sold ahead. Colored cottons show no
improvement, demand being irergular and very slow in
some houses. Trading in ducks has been more active lately
and leading producers are said to be comfortably situated
for the next few months in the matter of orders booked.
Trade in napped cottons, blankets, &c., is of good propor¬
tions and fully up to expectations of some sellers; in certain
bush.
bush.
bush.
bush.
bush.
869,000
5,559,000
3,154,000
2,800,000
124,000
756,000
9,000
70,000
Total Nov. 19 1910-12,382,000
Total Nov. 12 1910-13,222,000
Total Nov. 20 1909—11,093,000
124,000
201,000
32,000
756,000
604,000
425,000
9,000
70,000
44,000
126.000
a desire to cover
future needs at current levels.
No business has been done
with China, but buyers and sellers appear to be less far apart;
trade with miscellaneous ports continued quiet.
In print
cloths business put through was light and mostly for near-by
Rarley,
needs; gray goods, 383^-inch
easier tone at 5>£c. to 5^c.
Montreal
Fort William
Port Arthur
Otk*r (Canadian
....
_
.
SUMMARY.
Wheat,
Com,
Oats.
Rye,
instances, jobbers have shown more of
standard, showed
a
WOOLEN
slightly
GOODS.—Overcoatings continued the feature
this description
supplies small.
Total Nov. 19 1910-55,701,000
2,479,000 16,437,000
417,000 2,776,000
Heavy-weight
Total Nov. 12 1910- 55.111.000
2,508,000 16,734,000
409,000 2,773,000
Total Nov. 20 1909-38,723.000
suitings were taken to a moderate extent, but demand was
2,663,000 14,344,000
832,000 3,479.000
Total Nov. 211906—52,920,000
1.904,000
9,054,000 1,087,000 6,539,000
spasmodic and business unevenly distributed. Light¬
weight lines for spring are moving slowly. The market
generally has not been helped by the offering of stock goods
THE DRY GOODS TRADE.
at concessions by some producers.
A similar development
is
noted in the market for dress goods, particularly in the
New York, Friday Night, Nov. 25 1910.
West.
Application on spring lines of the latter has been
Conditions in textile markets remained practically un¬
only moderate, and much below agents’ expectations.
changed during the week. In cotton goods demand con¬
FOREIGN DRY GOODS.—Conditions prevailing in the
tinued scattered and irregular and trading only moderate in market for domestic woolens and worsteds affected imported
volume, the holiday being an additional factor in restricting fabrics of this character, with the result that business was
business.
Prices generally ruled steady to firm. The Census again moderate. Linens continued fairly active, demand
being chiefly for housekeeping lines; prices rule decidedly
cotton-ginning report served to make first hands somewhat firm with an upward tendency for distant deliveries. The
firmer in their views on contracts, and in some quarters burlap market has been active and unsettled in sympathy
there was less willingness to accept the lowest prices that with Calcutta; prices are slightly easier, light-weights 3.85c.
and 10 J^-ounce 4.85c.
have recently prevailed for spot goods.
Although the raw
material market advanced sharply upon the ginning report,
importations and Warehouse Withdrawals of Dry Goods*
the rise failed to stimulate demand in the goods market or ter
change the attitude of buyers, except that some converters
showed a little more interest in covering immediate or
near-by requirements and bid slightly higher than spot prices
for small-sized contracts.' As indicated, however, such offers
met with little response from mills.
Among buyers the
opinion seems to prevail that production is in excess of cur¬
rent demand, and with the recent easier tone in gray goods,
they do not look for higher prices in finished lines. Sellers
do not share this view; on tne contrary, they contend that
stocks in first hands are by no means burdensome, that con¬
siderable replenishing of domestic lines will have to be done
by jobbers and merchants in the near future, and that in
view of the high cost of the staple and the well-known atti¬
tude of mills on future business, prices will, if anything, show
a firmer tendency.
Meanwhile they are disposed to await
developments. Reports from jobbing centres throughout
the West and South indicate an increasing distribution in
those sections, but this activity has not been reflected so far
in orders forwarded by salesmen traveling in those sections,
such orders for the most part being only moderate.
In the
East a conservative policy is still pursued, purchasing being
confined to small lots for prompt shipment; as for some time
past there is little anticipating in any direction. Retailers
continue to buy steadily in moderate quantities and are
frequently in the market, which is construed as indicating
that their stocks are in a healthy condition. In underwear
a fair volume of business came forward
during the week for
fall, but agents experienced difficulty in securing higher
prices. Hosiery showed a better tone following the cleaning
up of some small stocks at concessions.
Woolen knit goods
have had a better call than cotton.
Business in spring silk
goods was reported as satisfactory, with some mills well sold
up for that season; prices are firmer, reflecting the advance
in raw silk.
Demand for overcoatings was well maintained,
but other men’s wear lines were quiet.
Trading in dress
goods was dull, and the market more or less unsettled by
liquidation at low prices of stocks of staple fabrics in some
American
Canadian
bush.
bush.
bush.
bush.
bush.
....43,319,000
....12,382,000
2,355,000
124,000
15,681,000
756,000
408,000
9,000
2,706,000
70,000
in men’s wear, demand for spot goods of
still being brisk in most quarters, with
In other lines trading showed little life.
quarters.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week ending Nov. 19 were 4,374
packages, valued at $330,195, their destination being to the
points specified in the table below:
C*
o O
I
1466
THE CHRONICLE
$ws and City ttef/wM£NT.
A
new
revised to
paper
STATE AND CITY SECTION.
number of our “State and City
Section,”
We would also direct attention to the fact that the
editorial
department of that publication contains
comparative tables showing the population of all the
cities of more than 25,000 for which the 1910
figures
had been announced by the Census Bureau
up to the
going to
sewer
bonds mature
to 1918 inclusive.
Armstrong County Common School District No. 5, Tex.—
Bonds Registered.—On Nov. 14 the State
Comptroller regis¬
tered
$2,000 5% 10-20-year (optional) bonds.
County School District No. 13, Wash.—Bond
Offering.—Proposals
will be received until 10 a. m. Dec. 7 by
R. B. Walker,
County Treasurer (P. O. Prosser), for $2,000
coupon school-building and furnishing bonds at not ex¬
ceeding 6% interest.
Benton
.Authority Sections 288, 289, 290, &c., Code
of 1909 .pages 76 et
seq.
tion of bidder.
Interest
of Public Instruction, Laws
Date day of Issue or first of some month, at
op¬
annually at the County Treasurer’s office. Ma-
Boaz, Marshall County, Ala.—Bond
Atlantic City, N. J.—Park Bond Ordinance Sustained
by
Appeals.—The Court of Errors and Ap¬
peals on Nov. 14 handed down an opinion sustaining the
ordinance of City Council providing for an issue of
$500,000
public park bonds. The City Comptroller, A. M. Heston,
Court of Errors and
that this is
$2,000 yearly from 1912
tumy 20 years, subject to call after 10 years.
Bonded debt at present.
Warrants outstanding, $23 89.
Cash on hand Nov. 1 1910,
$4,247 13. Assessed valuation 1910,
$463,739.
press.
News Items.
advises
LXXXXI.
Arlington, Middlesex County, Mass.—Bond
Proposals will be received until 3 p. m. Nov. 29, itOffering.—
is stated,
for $39,000 school-addition and
$14,000 sewer 4% bonds,
dated Dec. 1 1910. The school bonds mature
$3,000 yearly
from 1913
to 1925 inclusive and the
date, is issued to-day, and all readers of the
who are subscribers should receive a copy of it.
time of
IjVou
Offering.—Proposals
will be received until 1
p. m. March 1 1911 by R. E. Bor¬
oughs, City Cerk, for $20,000 5% water-works-construction
bonds.
Denomination $500.
the
Date March 1
Farmers’ & Merchants’ Bank In
Certified check for 10%, payable to the
at present.
Assessed valuation In 1909,
__
1911.
Boaz.
Interest semi-annually at
Maturity March 1 1941.
City Clerk, Is required. No debt
$85,280.
Bowling Green, Wood County, Ohio.—Bond Sale.—Two
proceedings instituted
by Mrs. Isabella Fishblatt, whose lands were being taken by issues of 4% 1-5-year (optional) street-improvement
bonds,
condemnation proceedings, owing to her refusal to
accept aggregating $5,300, offered on Nov. 21, were purchased by
the city's offer to purchase.
The bond ordinance was at¬ B; C. Harding of Bowling Green at par and accrued interest.
tacked on the ground that the statute which
Bids at par and accrued
authorized
interest, less attorney's fees, were
the passing of the bond ordinance was not
also received from
Seasongood & Mayer and the Provident
constitutional,
be¬
cause its object was not
expressed in its title. Justice Savings Bank & Trust Co., both of Cincinnati.
Trenchard of the Supreme Court dismissed the
Denominations: five bonds of $600 each, four bonds of
$500 each and
original pro¬
ceeding based on this objection, and an appeal was taken to one bond of $300. Date Sept. 1 1910. Interest semi-annual.
the Court of Errors, with the result as noted
Bremen, Fairfield County, Ohio.—Bonds Voted.—A
above.
propo¬
sition to issue $20,000 water-works bonds was
approved on
Louisiana.—Special Session of Legislature.—Governor Nov. 8. The vote
was 154 “for” to 36
Sanders on Nov. 16 issued a proclamation
“against.”
calling for a
Brown County (P. O.
session of the Legislature to convene Nov. 28 to special
Brownwood), Tex.—Bonds Voted.—
elect a
us
one
of several
United States Senator and enact
legislation to facilitate the
sale of the
which
p.
$7,000,000 sewer bonds,of the City of New Orleans,
offered
were
without
success on
1050.
Oct. 4.
See V. 91,
New Mexico.—Constitutional Convention
Adjourns.—The
Constitutional Convention, which has been
framing a con¬
stitution for the new State, completed its work
at 5 a.m.on
Nov. 22.
The constitution as drafted will be referred
to the
voters of the
State, it is said,
on
Jan. 21, and if adopted
that day will be presented to
Congress early in
New York City .—Board of Aldermen
on
February.
Adopts Resolution Pro¬
viding for Reduction in Budget.—By a vote of 46 to 25 the
Board of Aldermen on Nov. 22
adopted a resolution providing
for the elimination from the
budget for 1911 of an appropria¬
tion of $110,000 which had been made
by the Board of Esti¬
mate for an investigation of the
departments of Health, Chari¬
ties and Bellevue and Allied
Hospitals, and for an inquiry into
the general question of salaries and
grades in all the city de-
stated,
budget as finally adopted
Eartments.
y the BoardAsofalready
Estimate
and the
Apportionment
Oct. 31
amounted to
on
$174,079,335.
Oklahoma.—Extra Session of Legislature.—On
Nov. 19 a
proclamation was issued by Governor Haskell
calling
upon
the Legislature to meet in
special session in Oklahoma City
Nov. 28 to enact legislation
necessary to change the location
of the State Capital.
As stated last week, the State Supreme
Court on Nov. 15 decided that the election held
June 11, at
which it was voted to
change the location of the State Capital
from Guthrie to Oklahoma
City, was void because of defects
in the title of the ballot.
Bond Calls and Redemptions.
County (P. O. Wheeling), W. Va.—Bonds Drawn
for
Redemption.—The following numbers of 4>£% bonds of $500
Ohio
each have been drawn for
payment Dec. 1 at the German
Bank in Wheeling: 11, 12, 27,
67, 103, 119 and 129.
United States of Mexico.—Called Bonds Not
Yet Presented
for Payment.—In an advertisement on a
preceding page
notice is given that the
following bonds, drawn for payment
some time ago, have
not yet been presented for payment:
Nos. 17,245 and 30,119, Series “A,” for
$1,000 each. Interest ceased
June 1 1909. Nos.7,064,11,722,17,234 and
32,459, Series “A." for $1000
each.
Interest ceased Dec. 1 1909.
* ,uuu
Bond Proposals and Negotiations this week
have been
as
follows:
Alliance School District (P. O.
Alliance), Stark
Ohio.—Bonds Voted.—A vote of 2,000 “for” to 900 County,
“against”
was cast at the election held Nov. 8
on the
proposition to
issue the $50,000 school-improvement
bonds mentioned
in V. 91, p. 1275.
Americus, Sumter County, Oa.—Bonds Defeated.—It is
stated the election held
Nov. 8 resulted .in defeat of the
propositions to issue the $65,000 electric-light-plant, sanitarysewerage-system and water-works-improvement bonds men¬
tioned In V. 91, p. 1275.
It is said that a favorable vote was cast
recently on a propo¬
sition to issue $50,000 Precinct No. 1
road-improvement
bonds.
Burlington School District (P. O. Burlington), Des Moines
County, Iowa.—Bond Sale.—On Nov. 1 an issue of $9,000
4% 10-year high-school-completion bonds was awarded to
local investors at par.
Denominations: 20 bonds of $100 each and 14 bonds of
$500 each.
Date Nov. 1 1910.
Interest semi-annual.
Butler, Butler County, Pa.—Bonds Voted.—An election
held Nov. 8 is said to have resulted in favor of the
question of
issuing $50,000 4% 20-year funding bonds. An ordinance
providing for the issuance of these bonds was passed by the
Council
on
Bonds
Nov. 15.
Defeated.—Propositions to issue $12,000 fire-alarm-
system and automobile-fire-truck bonds and $15,000 park
were defeated, it is
stated, at the same election.
Calhoun County Common School District No.
3, Tex.—
Bonds Registered.—An issue of $1,500 5%
5-10-year (optional)
bonds was registered by the State Comptroller on Nov. 11.
Calhoun County Common School District No. 10, Tex.—
Bonds Registered.—The State Comptroller
registered $1,000
5% 5-20-year (optional) bonds on Nov. 11.
Callaway, Custer County, Neb.—Bond Sale.—On Nov. 1
the $6,000 6% 10-20-year (optional) water-main-extension
and improvement bonds described in V. 91,
p. 1196, were
bonds
awarded to H
T. Holtz & Co. of
Denomination $500.
Date Nov. 1 1910.
Chicago.
Interest annual.
Calumet Township, Lake County, Ind.—Bond Sale.—On
Nov. 12 the $10,000 5% school-house bonds described in
V. 91, p. 1342, were awarded to J. T. Elliot &Sons of Indi¬
anapolis at 101. Purchaser also to furnish printed bonds
and all other
printed matter.
Date Jan. 10 1911.
Maturity $500 on July 10 1912 and on Jan. 10 1913
and $1,000 yearly on Jan. 10 from 1914 to 1922 Inclusive.
Cameron County
(P. O. Brownsville), Tex.—Bonds
Authorized.—Reports state that the County Commissioners
have authorized the issuance of
age
District No. 1 bonds.
Denomination $500.
Date
New York or Brownsville.
Dec.
1
$204,500 5% 30-year Drain¬
1910.
Interest
semi-annually In
Charles City Independent School District (P. O. Charles
City), Floyd County, Iowa.—Bonds Offered by Bankers.—
The Harris Trust & Savings Bank of Chicago is offering to
investors an issue of $25,000 4\Y7o 10-year bonds.
Denomination $1,000.
Date Nov. 1 1910.
Interest semi-annually at
the Harris Trust & Savings Bank In Chicago.
Total debt. Including this
Issue, $48,000. 4 Assessed valuation for taxation, $960,082.
Real value
(estimated), $3,840,328.
Cincinnati School District (P. O. Cincinnati), Ohio.—Bond
are at hand relative to the offering
on
Dec. 5 of the $240,000 4% coupon school-property-
Offering.—Further details
improvement bonds mentioned in Y. 91,
p.
1342.
for these bonds will be received until 12 m.
Wm. Grautman, Clerk Board of Education.
on
Proposals
day by
that
Denomination $500.
Date, day of sale.
Interest semi-annually at the
American Exchange National Bank in New York City.
Maturity 40 years.
Certified check for 5% of bonds bid for, payable to the Board of Education,
is required.
Purchaser to pay accrued interest.
Cleveland,
Ohio.—Bond
Sale.—Reports state that
on
Nov. 21 the $600,000 4% 30-year coupon grade-crossing
Nov. 26 1910.]
THE CHRONICLE
bonds described in V. 91, p. 1114, were awarded to the
Cleveland Trust Co., C. E. Denison & Co., of Cleveland,
Field, Longstreth & Co. of Cincinnati, and Stacy & Braun
joint bid of 100.14.
of Toledo at their
Bond Offering.—Proposals will be received until 12 m.
Dec. 5 by H. B. Wright, City Auditor for $500,000 4%
coupon grade-crossing bonds.
Denomination $1,000.
Interest from Oct. 1 1910, payable semi-annually
at the American Exchange National Bank In New York City.
Maturity
Oct. 1 1940.
Certified check on a national bank for 5% of bonds bid for.
payable to Harry L. Davis, City Treasurer, Is required.
Bids to be made
on blank forms furnished by the City Auditor.
1467
Frackville School District (P. 6. Frackville), Schuylkill
County, Pa.—Bonds Defeated.—An election held Nov. 8
resulted in the defeat of the question of issuing $25,000
building bonds. The vote was 7 “for” to 135 “against.”
Frankfort, Clinton County, Ind.—Bond Sale.—Reports
state that an issue of $15,000 park bonds was awarded on
Nov. 18 to the Meyer-Kiser Bank in Indianapolis at 101.18.
Franklin County (P. O. Hampton), Iowa.—Bonds De¬
feated.—An election held Nov. 8 resulted in the defeat of a
proposition to issue hospital bonds.
Franklin County Common School District No. 18, Tex.—
Bonds Registered.—The State Comptroller registered on
Nov. 14 an issue of $1,200 5% 10-20-year (optional) bonds.
Gainesville, Cooke County, Tex.—Bond Election.—Reports
Goleman, Coleman County, Tex.—Bond Offering.—This
city is still advertising for sale the $20,000 5% 5-40-year
(optional) electric-light-plant-improvement bonds described
in V. 91, p. 601.
state that an election will be held Dec. 14 to vote on the
Collin County Common School District No. 3, Texas.—
question of issuing $150,000 5% 50-year bonds for the pur¬
Bonds Registered.—The State Comptroller registered $2,000 chase of the
plant of the Gainesville Water Co.
5% 10-20-year (optional) bonds on Nov. 15.
Galveston County Drainage District No. 1, Tex.—Bonds
Crawford County (P. O. Denison), Iowa.—Bonds Voted.—
A proposition to issue bonds for a county-poor-farm was Registered.—The State Comptroller registered $70,000 5 %
bonds on Nov. 11.
These securities take the place of the
approved by a vote of 2,219 to 1,250 on Nov. 8.
$116,000 bonds, proposals for which were asked until July 5
Orawfordsville, Montgomery County, Ind.—Bond Sale.— 1909. See V. 88, p. 1636.
Breed & Harrison of Cincinnati purchased $48,000 4%
Garfield, Bergen County, N. J.—Bonds Voted.—An elec¬
electric-light-plant bonds on Nov. 21 at 101.62. The fol¬ tion held Nov. 15 resulted in favor of propositions to issue
lowing bids were received:
the following bonds:
Breed & Harrison, Clnc-_$48,777 771
Joseph T. Elliott & Sons,
Trust & Savings
} Indianapolis
$48,552 00
Bank, Chicago
48,705 751 J.F.WUd & Co., Indianap. 48,450 00
Denomination $500.
Date Dec. 1 1910. Interest semi-annual.
Harris
Crewe, Nottaway County, Va.—Bond Offering.—C. E.
Wilson, Chairman Finance Committee, is offering at par
$25,000 5% coupon electric-light and water bonds.
Vote 176 “for” to 37
$42,500 sewerage-system-constructlon bonds.
“against.”
25,000 electrlc-llght-plant-constructlon and equipment bonds.
Vote 129
“for” to 78 “against.”
Bonds Defeated.—The
for the purchase of the
question of issuing $25,000 bonds
electric-light system of the Public
Service Corporation was defeated on Nov. 8 by a vote of
Interest semi-annually at the Bank of Crewe.
Denomination $500. Date
87 “for” to 114 “against.”
Jan. 1 1911.
This town has no debt at present.
Maturity 20 years.
Assessed valuation, $400,000.
Glen Ridge School District (P. O. Glen Ridge), Essex
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Offering. County, N. J.—Bond Offering.—Proposals will be received
—Proposals will be received until 11 a. m. Dec. 7 by the until 5p.m. Dec. 6 by the Board of Education, Edward D.
Board of Commissioners, John F. Goldenbogen, Clerk, for Street, Clerk, for $35,000 4^% coupon school bonds.
$300,000 4% coupon court-house-construction bonds.
Denomination $1,000.
Date Dec. 1 1910.
Interest semi-annually at
Authority. Sections 2434, 2435 and 2438, General Code; also election held
Nov. 5 1901.
Denomination $1,000.
Date Dec. 1 1910. Interest April 1
and Oct. 1 at the County Treasurer’s office.
Maturity $15,000 yearly on
Oct. 1 from 1911 to 1930 Inclusive.
Each bid must be accompanied by a
bond signed by not less than two disinterested persons, residents >of and
owning real estate In this county, or a certified check, payable to the County
Treasurer, for 1% of bonds bid for.
Bids must be made on a blank form
furnished by the county.
Cuyahoga Falls, Summit County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Nov. 28 by H. C.
Weidner, Village Clerk, for $8,200 5% Front Street im¬
provement (village’s portion) bonds.
Authority Section 2835, Revised Statutes, and 6905, General Code.
Denomination $1,000, except one bond of $200.
Date Oct. 22 1910.
Interest April 1 and Oct. 1 at the Cuyahoga Falls Savings Bank.
Maturity
$200 Oct. 1 1911 and $1,000 each six months from April 1 1912 to Oct. 1
1915 Inclusive.
Certified check for 10% of bonds bid for, payable to
John R. Porter, Village Treasurer, Is required 3.Purchaser to pay accrued
Interest.
4
gStagggMgfr* fl I* fl
'Wi-Aifi
*1
Decatur, Macon County, HI.—Price Paid forjBonds.—We
informed that 98.32 and interest was the price paid for
are
the $75,000 4% coupon electric-light-system bonds awarded
last month (V. 91, p. 1197) to the Harris Trust & Savings
Bank of Chicago.
This is on an interest basis of about 4.23%.
the Essex Title Guaranty & Trust Co. of Montclair, and upon request of
holder will be payable In New York exchange.
Maturity yearly on Dec. 1
as follows: $2,000 on each of the years 1930, 1931 and 1932; $3,000 In each
of the years 1933,1934 and 1935, and $4,000 In each of the years 1936,1937,
1938, 1939 and 1940.
Certified check for 2% of bonds bid for, payable to
Board of Education, Is required.
Purchaser to pay accrued interest.
Gloucester City, Camden County, N. J.—Bond Sale.—On
Nov. 15 $25,000 43^% 20-year coupon street-improvement
bonds were sold to the P. A. Stewart Co. at par and accrued
interest.
There were no other bidders.
Denomination
Date Nov. 1 1910. Interest semi-annually in
City.
Gooding, Lincoln County, Idaho.—Bond Sale.—On Nov. 7
the $7,000 10-20-year (optional) funding, refunding, building
and purchasing bonds described in V. 91, p. 1277, were
awarded to J. H. Causey & Co. of Denver at par and accrued
$1,000.
Gloucester
interest.
Gordo, Pickens County, Ala.—Bond Offering.—Proposals
Dec. 19 by W. S. Carver,
Mayor, for the $6,000 5% gold coupon school-building bonds
recently voted. V. 91, p. 1343.
will be received until 3:30 p. m.
Escanaba), Mich.—Bonds Voted.—We
Denomination $100.
Date Jan. 1 1911. Interest semi-annually at the
proposition to issue the $40,000 4% First National Bank In Tuscaloosa. Maturity Jan. 1 1931. The bonds
tax-exempt.
Certified check for 10% of bonds bid for, made payable
bridge-construction bonds carried by a vote of 1186 to 1142 are
to the Mayor, Is
Total debt; this Issue. Assessed valuation
at the Nov. 8 election.
As stated in V. 91, p. 1400, it was for 1909, $125,000.required.
at first reported that the bonds had been defeated. Maturity
The official notice of this bond offering will be found among
$5,000 yearly on Jan. 1 from 1912 to 1919 inclusive. Ac¬ the advertisements elsewhere in this
Department.
cording to the County Clerk, bids will likely be called for
Granby, Newton County, Mo.—Bond Offering.—Proposals
Jan. 10 1911, when the County Board holds its next meeting.
will be received until 7 p. m. on Dec. 15 by J. Hutsell, City
County,
Election.—-An
Douglasville, Douglas
Ga.—Bond
election will be held Nov. 28 to vote on a proposition to issue Clerk, for $18,000 5J^% water-works bonds.
Date Jan. 1 1911.
Authority, Article 7; Chapter 84, Revised Statutes.
$20,000 5% water-works bonds. Maturity Mch. 1 1941. 1 Interest
semi-annually at the Bank of Granby in Granby. Maturity “any
East Rochester, Monroe County, N. Y.—Price Paid for time after 10 years.” Certified check for $500, payable to the City Clerk,
Is required.
No bonded debt at present. Assessed valuation, $282,000.
Notes.—The price paid for the $5,000 5% 1-5-year (serial)
Grassy
Lake
Drainage District No. 1, Ark.—Bond Offering.
water-main-extension notes awarded to Myron W. Greene
Proposals
will
of Rochester on Oct. 5 (V. 91, p. 1400) was par.
Denomina¬ Interest annual. be received for $12,000 6% drainage bonds.
Maturity twenty years. Edward Young
tion $1,000.
Date Oct. 5 1910. Interest semi-annual.
(P.
O.
is Secretary.
Youngstown)
El Dorado County (P. O. Placerville), Cal.—Bonds Voted.
Greene
County (P. O. Jefferson), Iowa.—Bonds Defeated.
—The voters of this county recently authorized the issuance
—A vote of 800 “for” to 2,400 “against” was the result of an
of $125,000 court-house-building bonds.
election held Nov. 8 to decide upon the question of issuing
El Paso County School District No. 1, Colo.—Bond Sale.—
$100,000 court-house-construction bonds.
E. H. Rollins & Sons of Denver recently purchased $45,000
Groesbeck
5% 10-20-year refunding bonds at 101.588 and interest. Limestone Independent School District (P. O. Groesbeck),
County, Tex.—Bonds Registered.—An issue of
Five bids in all were received.
$7,000 5% 5-40-year (optional) bonds was registered by the
^Escanaba, Delta County, Mich.—Bonds Voted.—According State Comptroller on Nov. 9.
to reports, the election held Nov. 8 resulted in favor of the
Hamden (P. O. Hamden Junction), Vinton County, Ohio.
questions of issuing the following bonds mentioned in V. 91, —Bond Sale.—On
Nov. 15 the $2,000 4>^% coupon Wilkesp.ll1276.
ville St. improvement bonds described in V. 91, p. 1277,
$30,000 gas-plant-construction bonds. Vote 665 “for” to 380 "against.”
$15,000 flre-statlon-constructlon bonds. Vote 573 “for” to 338 “against.” were awarded to the Vinton Banking Co. at 103.525 and
Falfurrias Independent School District, Texas.—Bonds accrued interest.
Other bidders were:
Delta County (P. O.
advised that the
are
■—
Registered.—On Nov. 14 the $25,000 5% 1-40-year (serial)
bonds described in V. 91, p. 819, were registered by the
Citizens’ Bk. of Hamden
Comptroller.
Flint, Genesee County, Mich.—Bonds Proposed.—Accord¬
ing to local papers, this city proposes to issue $400,000 waterworks-extension and improvement bonds.
Fort Lee, Bergen County, N. J.—Bonds Not Sold.—No
award was made on Nov. 23 of the $50,000 5% coupon
funding bonds described in V. 91, p. 1400. A bid of $50,225
was received from Weil, Roth & Co. of Cincinnati.
1929 Inclusive.
State
$2,0501 Somerset Bank, Somerset
$2,015
Seasongood & Mayer, Clncln__ 2,0211 Wm. H. De Pue, Hamden
2,000
Maturity $500 In 1915, $200 in 1916 and $100 each year from 1917 f
Harbor Springs, Emmet County, Mich.—Bond Sale Not
Consummated.—The $45,000 5% water-works-construction
bonds recently sold to the Continental & Commercial Trust
& Savings Bank of Chicago (V. 91, p. 1277), take the place
of the $45,000 4% bonds awarded last April to A. J. Hood
& Co. of Detroit (V. 90, p. 998).
We are advised that Hood
& Co. did not take the bonds, giving as a reason that there
1468
was
THE CHRONICLE
private plant in the town.
a
The bonds
were
later
awarded to other parties, but refused a second time, an error
having been discovered in the publication of the election
notice. Another election was called for Aug. 20, at which
the bonds were again voted.
Harrison
Oounty (P. O. Gulfport), Miss.—Bond Offering.—
Proposals will be received until Dec. 5 for $50,000 6% Road
District No. 2 bonds. These bonds were offered as 5s on
Nov. 7 (V. 91, p. 1049), but no sale was made on that day.
Hart
Oounty (P. O. Hartwell), Ga.—Bonds Defeated.—The
proposition to issue the $40,000 5% 30-year road and bridge
bonds mentioned in V. 91, p. 1049, was defeated by the voters
on
Nov. 4.
Hawthorne School District (P. O. Hawthorne), N. J.—
Bonds Not Sold.—No bids were received on Nov. 15 for
$4,500 5% bonds offered on that day.
[VOL.
LXXXXI
La Fayette, Walker County, Ga.—Bond
Offering.—Pro¬
posals will be received until 8 p. m. Dec. 20 by D. W. Hern¬
don, Mayor, for $28,000 water-works and $12,000 electriclight 5% gold bonds.
Denomination $500. Date Jan. 1 1911. Interest
semi-annually at the
Seaboard National Bank In New York City.
Maturity Jan. 1 1940. Cer¬
tified check for 2% of bid, payable to W. A. Enloe
Jr., Treasurer, Is required.
Las Animas County (P. O. Trinidad), Colo.—Bonds Voted.
—The election held Nov. 8 resulted in favor of the
propo¬
sition to issue the $155,000 43^%
funding bonds mentioned
394 “for” to 143
10-20-year (optional) re¬
The vote was
in V. 91, p. 978.
“against.”
Liberty Township School District (P. O. Powell), Dela¬
ware County, Ohio.—Bond
Offering.—Proposals will be re¬
ceived until 12 m. Dec. 12 for $20,000
43^% bonds.
Authority, Sections 7625 and 7626, General Code. Denomination $2,000.
Date Dec. 1 1910.
Interest semi-annual.
Maturity $2,000 yearly on
June 1 from 1913 to 1922 Inclusive.
Certified check on a bank In Delaware
County (or cash) for $200, payable to V. P. Rutherford, Clerk, Is required.
Henderson County (P. O. Henderson), Ky.—Bonds De¬
Lincoln, Lancaster County, Neb.—Bonds to Be Offered
feated.—The election held Nov. 8 resulted in the defeat of the
Shortly.—On
or about Dec. 15 this city will advertise for sale
question of issuing $20,000 jail bonds.
an issue of
$50,000 sewer bonds.
High Point, Guilford County, No. Caro.—Bond Election
Lorain, Lorain County, Ohio.—Bond Sale.—On Nov. 23
Proposed.—This city, according to reports, proposes holding the
$21,500 43^% coupon sanitary-sewer bonds described in
an election to vote on the
question of issuing $100,000 V.
91,
p. 1198, were awarded, it is stated, to the Daviesadditional improvement bonds.
Bertram Co. of Cincinnati at 101.688.
Maturity $1,000 every
Houston, Tex.—Bonds Registered.—The State Comptroller March 15 and $1,500 each
Sept.
15
from
1912 to 1916 in¬
on Nov. 12 registered
$100,000 43^% street-improvement clusive, $1,000 each six months from March 15 1917 to
bonds due in 30 years.
Sept. 15 1920 inclusive and $1,000 Sept. 21 1921.
Hudson Township (P. O. Hudson), Summit County, Ohio.
Loup County (P. O. Taylor), Neb.—Bonds Defeated.—The
—Bond Offering.—Proposals will be received until 12 m.
question of issuing court-house bonds was defeated on
Nov. 28 by H. A. Sullivan, Township Clerk, for
$10,000 Nov. 8. The vote was 164 “for” to 289 “against.”
4Yt% coupon highway-improvement bonds.
Lyon County (P. O. Marshall), Minn.—Bond Sale.—On
Authority Sections 3295. 3939. 3940, 3941, 3942 and 3947, of the General
Nov. 21 the $63,500 5%
Code.
Denomination $1,000.
Date, day of sale.
coupon ditch bonds described in
Interest, commencing
April 1 1911, payable semi-annually at the National Bank of Hudson.
V. 91, p. 1278, were awarded to the Wells &
Dickey Co. of
Maturity $1,000 yearly on Oct. 1 from 1912 to 1921 Inclusive. Certified
Minneapolis for $64,835 (102.102) and accrued interest.
check for 10% of bonds bid for, payable to the
Township Treasurer, Is
required.
award.
000.
The bonds will be delivered within 10 days from the time of
The township has no debt at present.
Estimated value, $2,000,-
Huntington Park School District, Los Angeles Oof&ty,
Cal.—Bond Offering.—Proposals will be received until 2
p. m. Dec 5 by the Board of Supervisors, C. G. Keyes, exofficio
Clerk, for the $15,000 5% gold bonds voted on Oct. 24
(V. 91, p. 1343) to purchase land for school purposes.
Other bids received
were as
follows:
Union Invest. Co., Mlnnneap.$64,615
McCoy & Co.,
.$64,350
S. A. Kean & Co., Chicago.. 64,611 Well, Roth & Chicago
Co., Chicago.
64,180
Minn. LoanATr.Co., MInneap 64,376 Kane & Co.,
Minneapolis.. 64,100
Maturity part yearly from 1916 to 1921.
.
-
McCracken County (P. O. Paducah),
—On Nov. 8 the voters defeated a
Ky .—Bonds Defeated.
proposition to issue
$50,000 jail bonds.
McLeansboro, Hamilton County, Ill.—Bond Election.—
On Dec. 1 this city, it is stated, will vote on the
question of
issuing $20,000 dam and water-works-extension bonds. v
Jamestown, Chautauqua County, N. Y.—Bonds Voted.—
McPherson, McPherson County, Kans.—Bond Offering.—
A proposition to issue $30,000
fire-department bonds carried Proposals will be received by Nels Pearson, City Clerk, for
by a vote of 402 to 196 at an election held Nov. 19. De¬ $7,000 electric-light and $3,000 water-works bonds at
not
tails of bonds not yet determined.
exceeding 6% interest.
Kansas City, Mo.—Bond Offering.—Proposals will be re¬
Denomination $500.
Date Jan. 1 1911.
Maturity 10 years, subject to
call after 3 years.
Interest semi-annually at the fiscal agency of Kansas In
ceived until 10 a. m. Dec, 15 by Darius A.
Brown, Mayor, Topeka.
and Gus Pearson, City Comptroller, for the
Marlboro, Ulster County, N. Y.—Bond Offering.—Dis¬
following bonds:
CLASS “A."
CLASS “B” (Concluded)
patches
state that W. C. Grimley, Chairman of the School
Amount.
Purpose.
Amount.
Purpose.
>
Board,
will
sell at public auction at 2:30 p. m. Nov. 26 $10,$500,000,-Water-works (2d Issue).
$100,000. Inclneratlng-plant.
CLASS “B.”
000 834-year (average) school bonds at not
100,000. .Bridge.
exceeding 43^%
$50,000__Flre protection (2d Issue).
Denomination $1,000.
Date Dec. 5 1910.
Interest annually at the
County Treasurer’s office. Maturity $5,000 on Dec. 5 In each of the years
1920, 1925 and 1930. Certified check for 3% of bonds bid for, payable to
the Chairman, Is required.
Purchaser to pay accrued Interest.
_
Class “A” bonds carry 4% interest.
Class “B” bonds carry 4 H% int.
The above securities are part of the $3,650,000 bonds voted
(V. 91, p.
291) on July 19. of which $800,000 were disposed of on Sept. 7, as
reported
In V. 91, p. 666.
Denomination $1,000.
Date Sept. 1 1910.
Interest
will be payable at the City Treasurer's office or the Chase National
Bank In
New York City, at the option of the holder.
Maturity
Sept.
1930.
Bid
1
must be made on a blank form furnished
by the City Comptroller or by
DUlon, Thomson & Clay of New York City, and be accompanied
by a
certified check on a national bank In Kansas
City for 2% of the bonds bid
for, made payable to the aforesaid Comptroller. The
legality of the bonds
will be approved by Dillon, Thomson & Clay, whose
opinion will be de¬
livered to the purchaser.
Bonds will be delivered at the office of the
Comptroller on Jan. 3.
The
official notice of this bond offering will be found among
the advertisements elsewhere in this
Department.
Kearny, Hudson County, N. J .—Bond Offering.—Pro¬
posals will be received until 8 p. m. Dec. 14 by the Town
Council for $25,000 43^% play-ground bonds.
Maturity 20
years.
Certified check for $1,000 Is required.
E. Canfield is Town Treasurer.
The
Burton
official notice of this bond offering will be found among
the advertisements elsewhere in this
Department.
King Oounty (P. O. Seattle), Wash.—Bonds
Voted.—
advised that the propositions to issue the follow¬
ing twenty-year bonds at not exceeding 4^% interest car¬
ried at the election held Nov. 8:
$600,000 to
We
are
procure the
right-of-way for the Duwamish Waterway, $750,000 for the
excavation of the Lake Washington
Canal, $25,000 for the
dredging of the Sammamish River, bringing Lake Sammam¬
ish into the general chain of dockage;
$325,000 for public
ownership of wharves and docks and $50,000 for the diverting
of the Cedar River into Lake Washington.
See V. 91, p. 978.
JfcThe vote was 17,781 “for” to 4,546 “against.” We are
informed that the bonds will be placed on the market
next
March.
King County School Dist. No. 15, Wash.—Bond Sale.—
The $7,000 2-10-year (optional) coupon
school-house-site, con¬
struction and furnishing bonds described in V.
91, p. 417,
were awarded on Aug. 20 to the State of
Washington
at par
for 53^s.
p* Klamath Palls, Klamath County, Ore.—Bonds Voted.—
Anjfelection held recently resulted in favor of the question
of 'issuing $8,000
fire-department-equipment bonds. The
\ote
was
83 “for” to 19
“against.”
interest.
Martin
County (P. O. Fairmont), Minn.—Bond Offering.—
Proposals will be received until 10 a. m. Nov. 29 by H. P.
Edwards, County Auditor, for the following bonds at not
exceeding 6% interest:
$14,000 Judicial Ditch No. 9 bonds.
Denominations: 13 bonds of $1,000
each and 2 bonds of $500 each.
Maturity $1,000 yearly from 1915
to 1927 Inclusive and $500 in 1928 and 1929.
13,000 County Ditch No. 14 bonds.
Denominations: 11 bonds of $1,000
each and 4 bonds of $500 each.
Maturity $1,000 yearly from 1914
to 1924 Inclusive and $500 In each of the years 1925, 1926, 1927
and 1928.
17,000 County Ditch No. 15 bonds.
Denominations: 4 bonds of $1,500
each and 11 bonds of $1,000 each.
Maturity $1,500 In each of the
years 1914, 1915, 1916 and 1917 and $1,000 yearly from 1918 to
1928 Inclusive.
10,000 County Ditch No. 20 bonds. Denominations: 5 bonds of $1,000
each and 10 bonds of $500 each.
Maturity $1,000 In each of the
years 1915, 1916, 1917, 1918 and 1919 and $500 yearly from 1920
to. 1929 Inclusive.
Interest annually at Fairmont.
Certified check for $1,000, payable to
the County Treasurer, Is required.
Purchaser to furnish blank bonds.
Maryland.—Bond Sale.-r-On Nov. 22 the $949,000 33^%
10-15-year (optional) coupon (with privilege of registration
as to principal) State Roads
Loan, Series “C,” bonds, de¬
scribed in V. 91, p. 1115, were sold as follows:
$859,000 to
the Mercantile Trust & Deposit Co. at
94.033, $50,000 to
H. A. Orrick, $25^,000 at 94.05 and $25,000 at 94.10 and
$40,000 to Townsend, Scott & Son, $10,000 at 94.25, $20,000 at 94.50 and $10,000 at 95.
The successful bidders are
all of Baltimore.
The bonds just sold are part of the
$1,000,000 issue offered
May 16, and on which day only $10,000 was disposed of.
See V. 90, p. 1379.
With the sale of the $949,000 bonds
on Nov. 16 the entire issue has now been placed.
Maryville, Blount Oounty, Tenn.—Bond Offering.—This
city is offering at private sale the $30,000 5% 20-year coupon
school-building bonds which failed to sell (V. 91, p. 541) on
July 18.
Medford School District (P. O. Medford), Grant
Oounty,
Okla.—Bond Sale.—The $40,000 6% school-building bonds
voted on Sept. 27 (V. 91, p. 978), have been awarded to the
H. C. Speer & Sons Co. of Chicago.
on
Date Dec. 1 1910.
Maturity $5,000 on Jan. 1 In each of the years 1916.
1921 and 1926 and $25,000 on Deo. 1 1930.
Total debt. Including this
Issue, $43,000.
Assessed valuation $949,247.
Miles, Runnels Oounty, Tex.—Bonds Registered.—The
$20,000 5% 20-40-year (optional) water-works bonds men-
Nov. 26
1910.]
Dec. 15” at the office of John M.
tioned in V. 91, p. 354, were registered by the State Comp¬
troller on Nov. 7.
Milford School District, Clermont and Hamilton Counties,
Ohio.—Bond Election.—A proposition to issue $75,000 schoolbuilding bonds will be voted upon Dec. 5.
Lewis, County Treasurer
(P. O. Portland), for $350,000 bonds.
Preble County (P. O. Eaton), Ohio.—Bond Sale.—The
following award was made on Nov. 12 of the three issues of
4)6% bonds described in V. 91, p. 1200:
Montclair, Essex County, N. J.—Bonds Proposed.—This
town, according to reports, is contemplating the issuance of
$221,000 school-building bonds.
Morrow County (P. O. Mt. Gilead), Ohio.—Bond Sale.—
Reports state that seven issues of 4)6% bonds offered on
Oct. 20 were disposed of as follows:
$1,219 Fowble Ditch No. 394 bonds, due $102 each six months from May
12 1911 to Nov. 12 1914 inclusive, awarded to the Preble County Na¬
tional Bank of Eaton for $1,219 50—the price thus being 100.041.
91,994 99 5 H-year (average) Westfield Road Improvement No. 1 assess¬
ment bonds awarded for $2,025 99 (101.55)—a basis of about
Pueblo School District No. 20 (P. O. Pueblo), Colo.—
Bonds Voted—Propositions to issue $190,000 building and
$35,000 funding bonds carried on Nov. 12, the vote being
123 to 43 on the former issue and 128 to 32 on the latter.
4.192%.
10,990 00 5 M-year (average) Westfield Road improvement No. 2 bonds
awarded for $11,075 13 (101.70)—a basis of about 4.152%.
11,100 00 5H-year (average) North Bloomfield Road Improvement No. 1
bonds awarded for $11,290 (101.921)—a basis of about 4.199%.
5,407 00 5H-year (average) North Bloomfield Road Improvement No. 1
assessment bonds for $5,499 (101.70)—a basis ox about 4.152%.
5,933 00 5H-year (average) Westfield Road Improvement No. 2 assess¬
ment bonds awarded for $5,723 73 (101.999)—a basis of about
384 Wagner Ditch No. 391
bonds sold to Lizzie Miller of Baton tor
$385 85—the price thus being 100.481. Maturity $94 each six
months from May 12 1911 to Nov. 12 1913 Inclusive.
80 Ashworth Ditch No. 399 bonds, due $40 May 12 1911 and $40
Nov. 12 1911, disposed Of to W. F. Zellnlng of Eaton for $80 43—
the price thus being 100.537.
Putnam
County (P. O. Ottawa), Ohio.—Bonds Defeated.—
8, according to reports, resulted in the
defeat of a proposition to issue bonds for an agricultural
experiment farm.
4.152%.
9,553 00 5K-yesr (average) Fulton Road Improvement No. 1 assessment
Quincy, Norfolk County, Mass.—Bond Offering.—Propos¬
bonds awarded for $9,394 40 (101.39)—a basis of about 4.152%.
als will be received until 12 m. Nov. 29 by John Curtis, City
17,190 00 5-year (average) Fulton Road improvement No. 1 bonds awarded
for $17,451 72 (101.70)—a basis of about 4.12%.
Treasurer, for $19,000 4% coupon street-improvement bonds
It Is stated that the first four-mentioned Issues were purchased by the
Denomination
Mt. Gilead National
Bank and the remaining issues by the National Bank
of Morrow County, both of Mt. Gilead.
Mt. Washington, Hamilton County, Ohio.—Bond Sale.—
On Nov. 12 the $1,000 5% 10-year sidewalk-improvement
(village’s portion) bonds described in V. 91, p. 1278, were
A Mayer of Cincinnati at 106.10 and
awarded to Seasongood
accrued interest.
An election held Nov.
Date Oct. 1 1910.
$1,000.
Interest seml-aunu lly In
Boston.
Maturity $2,000 yearly on Oct. 1 from 1911 to 1919 in luslve
and $1,000 Oct. 1 1920.
Bonds will be notified as to their genulnen as
by the Old Colony Trust Co. of Boston, which will further certify that the
legality of this Issue has been approved by Ropes, Gray A Gorham of
Boston, a copy of whose opinion will be furnished without charge to the
purchaser.
Rice Lake,
Barron County, Wis.—Bond Offering.—Pro¬
posals will be received until 2 p. m. Dec. 13 by Geo. A.
Nebraska City School District (P. O. Nebraska City), Otoe Baier, City Clerk, for $17,650 6% Sewer District No. 1 bonds.
County, Neb.—Bonds Not Yet Sold.—Local papers of Nov. 17
Denomination $50. ^Certified check for $2,000, payable to the city* Is
state that no sale has yet been made of the $80,000 high* required.
school bonds offered without success (V. 91, p. 231) on
Richwood, Union County, Ohio.—Bond Sale.—On Nov. 19
the $18,000 4coupon North Franklin Street improve¬
July 1.
New Haven, Olmsted County, Minn.—Bond Sale.—The ment assessment bonds described in V. 91, p. 1279, were
$5,000 6% coupon road and bridge-building bonds offered awarded to the New First National Bank in Columbus for
$18,335 (101.861) and accrued interest. Other bids received
on Oct. 29 and described in V. 91, p. 1199, have been
awarded to the Citizens’ State Bank in Pine Island at par.
Date Nov.. 1
1910.
Interest annually on July 1.
yearly on July 1 from 1911 to 1915 inclusive.
Maturity $1,000
were as
follows:
Barto, Scott A Co., Colum $18,333 001 Stacy A Braun, Toledo
$18,197 50
Well, Roth A Co., Cln
18,205 00(Seasongood A Mayer, Cln. 18,100 00
Maturity $1,000 on April 1 In 1912 and 1913 and $2,000 yearly on April 1
from I9f4 to 1921 inclusive.
Bonds are tax-exempt. Interest payable at
Richwood Banking Co. Or Village Clerk's office.
Newton, Jasper County, Iowa.—Bonds Voted.—An elec¬
a proposition to issue
Rochester, N. Y.—Note Sale.—On Nov. 21 the $100,000
$40,000 gas-plant-construction bonds. The vote was 671 water-works
notes and $225,000 renewal water-works notes
to 325.
mentioned in V. 91, p. 1402, were awarded to Bond A Good¬
Norman County (P. O. Ada), Minn.—Bonds Defeated.— win of New York
City at 4.58% interest. Maturity 8 months
An election held Nov. 8 resulted in the defeat of a proposition
Rutherford
School
District (P. 0* Rutherford), Bergen
to issue $20,000 4% bonds.
The vote was 909 “for” to
County,
N.
J.—Bond
Offering.—Proposals will be received
1,035 “against.”
until 8 p. m. Nov. 28 by C. P. Perham, District Clerk, for
Northampton, Mass.—Temporary Loan.—Dispatches state $41,000 4)6% coupon bonds.
that a loan of $40,000, dated Nov. 25 1910 and due April 25
Authority Section 84 of an Act approved Oct. 19 1903. Date Aug. 1
1911, has been negotiated with Bond A Goodwin of Boston, 1910. Denomination $1,000. Interest semi-annually at the Rutherford
National
Bank in Rutherford.
Maturity 40 years. The bonds are taxwith interest to follow at 3.80%.
exempt.
North Charleroi School District (P. O. Charleroi), Pa.—
Sacramento, Gal.—Bonds Defeated.-—The proposition to
Bonds Voted.—The election held Nov. 8 resulted in favor of
issue the $666,000 filtration-plant bonds mentioned in V. 91,
the proposition to issue the $22,000 school-building bonds
p. 171, was defeated at an election held Nov. 16.
mentioned in V. 91, p. 745. The vote was 93 “for” to 17
Bonds Voted.—On Nov. 17 this city voted to issue $75,000
“against.”
4)6% river-improvement bonds. Date of offering not yet
Interest
tion held Nov. 8 resulted in favor of
4%
or 4
H%.
Maturity June 1 1929, subject to call after 1920.
North Hempstead (P. O. Manhasset), Nassau County,
N. Y.—Bond Sale.—On Nov. 17 the. $108,000 gold coupon
registered Roslyn Water District bonds described in V. 91,
1344, were sold to W. N. Coler A Co. of New York City
at par and interest for 4.80s.
Maturity $18,000 Nov. 1 1915
ana $6,000 yearly on Nov. 1 from 1916 to 1930 inclusive.
Norwood, Hamilton County, Ohio.—Bond Offering.—Proor
p.
gosals
will be received
12 m. 4)6%
Nov. 28bonds:
by L. H. Gebhart,
ity Auditor,
for the until
following
$5,935 23 Hudson Avenue macadam bonds.
Maturity one-tenth yearly
Nov. 2 from 1911 to 1920 Inclusive.
bonds.
Maturity one-fifth yearly
Nov. 2 from 1911 to 1915 Inclusive.
The amount of bonds to be issued will be reduced by the amount of
assessments paid in cash prior to the date of sale.
The above bonds are
dated Nov. 2 1910.
Interest annual.
Bid to be made on each Issue
on
1,495 70 stone-sidewalk-constructlon
on
separately and be accompanied by a certified check for 5% of the bonds,
made payable to the City Treasurer.
Okfuskee County (P. O. Okemah), Okla.—Bond Sale.—On
Oct. 17 $31,455 6% 20-year refunding bonds were awarded
to R. J. Edwards of Oklahoma City at a premium.
Denomination $1,000, except one bond of $455.
Interest semi-annual.
Date Dec. 12 1910.
102.147 IFarson Son A Co
101 337
Pineville, Rapides Parish, La.—Bonds Voted.—It is stated
that the question of issuing the $9,000 5% 40-vear street-im¬
provement bonds mentioned in V. 91, p. 1051 ‘ carried at the
election held Nov. 15. The vote was 57 “for” to 14 “against.’
Porterville School District (P. O. Porterville), Tulare
County, Cal*—Bond. Election Proposed.—According to San
Francisco papers, this district intends holding an election in
the near future to vote on a proposition to issue $60,000
school-building and equipment bonds.
Portland School District No. 1, Multnomah County, Ore.
—Bond Offering.—Proposals will be received until “about
papers state
that ah elec¬
to have been held Nov. 18, to vote on the
issuance of $50,000 levee bonds was canceled, as it was found
that it would n6t be necessary to issue bonds to make the
tion, which
was
proposed improvements.
St. Paul, Minn.—Bond Sale.—The
school bonds mentioned in V. 91, p.
posed of to five St.
Bonds Awarded
banks have agreed
of $300,000 school
on Nov. 23.
$150,000 4% 30-year
1200, have been dis¬
Paul banks at par and accrued interest.
in Part.—Dispatches state that local
to purchase at par $200,000 of an issue
bonds which was offered without success
Salisbury, Rowan County, No. Caro.—Bond Sale.—An is¬
of $50,000 5% street-improvement bonds dated Jan. 1
1910 and due Jan. 1 1960 was disposed of, we have just been
advised, during January.
Sandusky, Erie County, Ohio.—Bond Sale.—The follow¬
ing bids were received on Nov. 21 for the $5,000 4% 8-year
fire-department-equipment
bonds described in V. 91, p. 1280:
Amer.
sue
Bank’gCo., Sandusky$5,018 Prov.Sav.Bk.ATr.Co., Gin
Passaic County (P. 0. Paterson), N. J.—Bond Sale.—On
Nov. 23 N. W. Harris A Co. of New York City were awarded
the $67,500 4)6% 18-year coupon road-improvement bonds
described in V. 91, p. 1401, at 102.708 and accrued interest.
A list of the bidders follows:
N. Jf. Hants & Co
101.7875
102 7081 John D Everltt A Co.
B. H. Rollins & Sons
102.59 I Kountze Bros
100 92
R. M. Grant A Co
determined.
Bond Election Rescinded.—Local
$5,000
Third-Nat. Ex. Bk., Sand.. 5,012 Well, Roth A Go.. CJncln
af.000
Citizens* Banking Go., Sand. 5,010 Seasongood A Mayer, Clncln. —x5,009
a Less $15 for attorney's fees and other expenses,
x Less $35 for attor¬
ney's fees and other
expenses.
All bidders offered accrued Interest In addition to their bids.
Schenectady, N. Y.—Certificate Offering.—Proposals will
a. m. Dec. 2 by C. H. Benedict, City
Comptroller, for $100,000 certificates dated Dec. 1 1910.
be received until 11
Denomination of certificates and rate of Interest desired to be named In
bid.
Principal and Interest will be paid. In New York exchange, on March 1
1911 at the City Treasurer’s office or at the importers’ A Traders* National
Bank in New York City, as the successful bidder may elect.
Certified
check for 1 % of certificates bid for, made payable to the City Comptroller,
Is required.
The certificates will
time of award.
Purchaser to pay
be delivered within ten days from the
accrued Interest.
Seattle School District No. 1 (P. O. Seattle), KingGounty,
Wash.—Bond Election.—An election will be held Dec. 3 to
propositions to issue $600,000 1-20-year (serial)
$150,000 20-year funding bonds and
$100,000 20-year school-site bonds.
Shawnee County (P. O. Topeka), Kan.—Bonds Voted.—
The election held Nov. 8 resulted, reports state, in favor ef
vote on
school-house bonds,
1470
THE CHRONICLE
the proposition to issue the $50,000 State fair-groundsimprovement bonds, mentioned in V. 91, p. 980.
Shelby Oounty (P. O. Shelbyville), Ky.—Bonds Defeated.—
On Nov. 8 the voters defeated a proposition to issue $75,000
court-house bonds.
Silverton, Hamilton Oounty, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Dec. 31 for the $8,500 4)^ %
water-system-construction bonds.
Authority, vote of 88 to 20 at election held Nov.
Maturity Dec. 10 1935. A. A. Sprague la Clerk.
8
(V. 91, p. 1345).
Skagit Oounty (P. O. Mt. Vernon), Wash.—Bond Offer¬
ing.—Proposals will be received until Jan. 9 1911 for $125,000
refunding road and bridge bonds.
Bonds Proposed.—This county proposes to issue $100,000
road-improvement bonds. We are informed, however, that
they will probably not be offered for sale until next May or
-
June.
Snyder,
Scurry
County,
Tex.—Bonds
12
Springfield, Greene County, Mo.—Bond Election.—This
city will hold an election Dec. 5, according to local papers,
to vote on the question of issuing the $475,000
publicimprovement bonds mentioned in V. 91, p. 1116.
Stafford, Stafford County, Kan.—Bonds Voted.—At an
election held Nov. 15 a favorable vote was cast on propositions
to issue $30,000 bonds to complete the
water-works-system
and $25,000 to purchase an electric-light system.
Steele County (P. O. Owatonna), Minn.—Bonds Proposed.
—This county has applied to the State Investment Com¬
mission for a 4% loan of $20,000, the money to be expended
•
for ditch purposes.
Stilwell, Adair County, Okla.—Bond Election.—According
reports an election will be held Nov. 29 to vote on a prop¬
osition to issue $40,000 electric-light-plant and water-worksto
construction bonds.
Stoneham, Middlesex County, Mass.—Bond Offering.—
Reports state that proposals will be received until Dec. 1
for $1,000 water and $2,000 sewer 4% bonds.
Denomination $1,000.
The water bond matures May 1 1930 and the
bonds are due June 1 1928.
sewer
Taylor Separate School District, Lafayette County, Miss.
—Bonds Not Sold—Bond Offering.—No sale was made on
Nov. 7 of the $3,000 6% coupon school-building and site-
purchase bonds described in V. 91, p. 1201. Proposals are
again asked for these bonds and will be received,this time,
until Dec. 8.
proposition to issue $3,000 5%
10-40-year (optional)
school bonds.
Titusville School District (P. O. Titusville), Crawford
County, Pa.—Bonds Not to be Issued at Present.—We are
advised that the $100,000 high-school-building bonds voted
on Sept. 6 (V. 91, p. 747) will not be issued until
early in 1911.
Toledo, Ohio.—Bonds Authorized.—Ordinances have been
passed providing for the issuance of the following 5% coupon
assessment bonds:
$482 07 Plymouth Street No. 2 Improvement bonds. Denomination $115,
except one bond of $107 07.
Date Aug. 1 1910.
part
each six months from March 1 1911 to Sept. 1 1912 Maturity
Inclusive.
1,28$ 18 Sewer No. 1089 construction bonds. Denomination $325. exoept
one bond of $311 16.
Date Nov. 18 1910. Maturity part each
six months from March 18 1912 to
Sept. 1 1913 inclusive.
Interest semi-annually at the Northern National Bank in Toledo.
In addition to the
above, an ordinance has also been
passed providing for the issuance of $300,000 4% coupon
city-hall-site-purchase bonds.
Denomination $1,000.
Date Dec. 1 1910.
Interest
the United States Guaranty & Trust Co. in New York semi-annually at
City. Maturity
twenty-five years.
Tracy, Lyon County, Minn.—Bonds Voted.—Propositions
to issue $7,500 sewer, $6,000 water and
$1,500 jail 4% bonds
were favorably voted
upon Nov. 8.
It is expected that the
bonds will be taken by the State of Minnesota.
Trenton, Mercer County, N. J.—Bonds Authorized.—Or¬
dinances have been passed providing for the issuance of
30-year coupon or registered bonds for the following
$9,000 to build additions to School No. 23 and
$80,000 to build a school on Rutherford and Exton avenues.
Denomination $100 or multiples thereof. Interest semi¬
purposes:
annual
.
Trumbull County (P. O. Warren), Ohio.—Bond
Offering.—
Proposals will be received until 1 p. m. Nov. 28 by Fred. T.
Stone, County Auditor, for $10,000 5% coupon bridge¬
building bonds.
AmthOTity Sections 2421-2434, General Code. Denomination $1,00<
Interest semi-annually at County Treasurer’s offi<
Maturity $1,000 each six months from March 1 1912 to Sept. 1 1916 b
IvV®
elusive.
Certified check for 5% of bonds bid
for, payable to the Couni
Auditor, is required.
Bonds Defeated.—A proposition to issue
defeated by a vote of 3,100 “for" to 4,300
election held Nov. 8.
Offering.—Proposals will be received until
Clerk, for $7,000.
Dec. 7 by E. J. McCreery, Township
coupon road-improvement bonds.
Authority. Sections 3295, 3924, 3939, 3940, 3941, 3942 and 3947 of the
General Code.
Denomination $1,000.
Date “day of sale.”
Interest
payable at the National Bank of Hudson in Hudson.
Maturity $1,000
yearly on Oct. 1 from 1912 to 1918 Inclusive.
Purchaser to pay accrued
interest.
Certified check for 10% of bonds bid for, payable to the Town¬
ship Treasurer, is required. Bonded debt, at present, $2,800,
Assessed
valuation 1910, $900,000.
Vallejo, Solano Oounty, Cal.—Bond Sale.—On Nov. 16
$90,000 5% gold coupon (with privilege of registration)
water-system-improvement bonds described in V. 91,
the
p. 1280, were sold to G. G. Blymyer & Co. of San Francisco
at 102.12 and accrued interest.
A list of the bidders follows:
G.G.Blymyer & Co.,San Fr._$91,908 IN. W. Halsey & Co., San Fr_$91,751
State Board of Examiners
a91,950lE. H. Rollins & Sons, San Fr. 91,454
Jas. H. Adams & Co., Los An 91,751
|Barroll & Co., Los Angeles-. 91,108
a
Bonds to be delivered in Sacramento.
Maturity $4,500 yearly
on Jan. 1 from 1912 to 1931 inclusive.
Vandalia, Fayette County, Ill.—Bond Sale.—On Nov. 14
the $10,000 6%
electric-light and water-works bonds de¬
scribed in V. 91, p. 1281, were sold to
Farson, Son & Co. of
Chicago at 106.33 and interest—a basis of about 4.775%.
The bonds are dated Dec. 1 1910 and mature $500 each six
months from June 1 1912 to Dec. 1 1921 inclusive.
Virginia School District (P. O. Virginia), St. Louis County,
Minn.—Bond Sale.—Dispatches state that the Commercial
Investment Co. of Duluth has been awarded an issue of
$75,000 school bonds.
Wakefield, Middlesex County, Mass.—Temporary Loans.—
C. D. Parker & Co. of Boston have been
awarded, it is
stated, temporary loans of $70,000, maturing April 16 1911
and $40,000 maturing May 16 1911, at
3.86% discount and
a premium of 35 cents.
Wakita, Grant County, Okla.—Bonds Voted.—A pro¬
position to issue $16,000 6% 20-year school-building bonds
received
a
favorable vote
on
Oct. 22.
Wapello County (P. O. Ottumwa), Iowa.—Price Paid for
Bonds.—The price paid for the two issues of 5% 9 1-3-year
(average) funding bonds aggregating $66,000, awarded on
Halsey & Co. of Chicago (V. 91, p. 1201),
was
$69,504 60 (105.31) and interest—a basis of about
4.28%. There were eleven bidders.
Oct. 19 to N. W.
Denomination $1,000.
Date Sept. 1 1910.
Interest semi-annual.
Maturity $5,000 In 1913 and In 1915. $6,000 in 1916, $7,000 in 1917 and
1918, $10,000 in 1921 and 1922 and $16,000 In 1923.
Bonds Voted.—We are advised that the proposition to
the $45,000 jail-construction bonds mentioned in V.
issue
91, p.
1281, carried at the Nov. 8 election. The vote is reported in
local papers as 3,654 to 1,797.
Waseca County (P. O. Waseca), Minn.—Price Paid for
Bonds.—We are advised that the price paid for the $12,000
4% Crane Creek Ditch bonds recently awarded to the State
Minnesota (V. 91, p. 1402) was par.
Denomination
$1,000. Interest annually in July.
Washington Court House, Fayette County, Ohio.—Bond
Sale.—An issue of $3,490 50 4}^% street-improvement
bonds was disposed of on Nov. 22 to the Commercial Bank
of Washington Court House at 101.075.
Following is a list
of the bidders and the premiums offered by the same:
of
Terrell, Kaufman County, Tex,—Bonds Voted— Of a total
of 70 votes cast at the Nov. 8 election, 64 were in favor of
a
m.
4J^%
Registered.—On
Denomination $1,000.
Interest semi-annual. Ma¬
Date Dec. 1 1910.
turity Dec. 1 1930.
Certlfledjcheck for 2% of bonds bid for, payable
toP. P. Welns, City Treasurer, is required
LXXXXI
Twinsburg Township (P. O. Twinsburg), Summit Oounty,
Ohio.—Bond
Nov. 9 the $27,400 water-works and the $17,000 sewerage
5% 15-40-year (optional) bonds described in V. 91, p. 1201,
were registered by the State
Comptroller.
South St. Paul, Dakota County, Minn.—Bond Offering.—
Proposals will be received until 3 p. m. Dec. 15 by Jno. J.
O'Brien, City Recorder, for $111,000 4J^% refunding bonds.
[VOL.
jail bonds was
“against" at the
Commercial Bank, Wash.C.H.$37.541 New First National
Season good & Mayer, Clncln__ 15.691
Columbus
Denomination $349 06.
Date Oct. 16 1910.
Interest
Maturity from one to five years.
Bank,
*
$10.50
semi-annual.
Watertown, Middlesex County, Mass.—Temporary Loan.
a loan of $25,000, due April 3 1911, was ne¬
gotiated with Bond & Goodwin of Boston at 3.83% discount.
West Feliciana Parish (P. O. St. Francisville), La.—Bonds
Proposed.—This parish will shortly offer for sale $22,500
6% coupon refunding and improvement bonds.
—On Nov. 21
Denomination $500.
Date Jan. 1 1911.
Interest semi-annually In New
York City.
Maturity twenty years. The bonds are exempt from all taxes.
White Salmon, Klickitat
County, Wash.—Bond Election.—
An election will be held Dec.
17, it is stated, to vote on a
proposition to issue $7,500 bonds to pay Off road-improve¬
ment warrants.
Wichita, Sedgwick County, Kan.—Bonds Voted.—By a
2,446 “for" to 1,967 “against,” local papers state,
this city on Nov. 8 authorized the issuance of $10,000 jail
vote of
and work-house bonds.
Bonds Authorized.—An ordinance has been
ing for the issuance of the following 5%
Avenue improvement bonds.
passed provid¬
Central
coupon
$9,489 73 (city’s portion) bonds.
Denomination $1,000, except one bond
of $489 73.
Maturity $489 73 Aug. 1 1911 and $1,000 yearly
on Aug. 1 from 1912 to 1920 Inclusive.
Denomination $1,000, except one bond of
34,815 95 (assessment) bonds.
$815 95.
Maturity $2,815 95 Aug. 1 1911, $4,000 on Aug. 1
in each of the years 1912, 1914, 1916, 1918 and 1920 and $3,000
on Aug. 1 in each of the
years 1913, 1915, 1917 and 1919.
Date Aug. 1 1910.
Interest semi-annually at the fiscal agency of the
State of Kansas In Topeka.
In addition to the
above,
an
ordinance has also been
gassed
for the issuance
of bonds:
the following West
►ouglasproviding
Ave. improvement
5% coupon
$19,360 23 (city’s portion) bonds.
Denomination $1,000, except one bond
of $360 23.
Maturity $1,360 23 on Oct. 1 1911 and $2,000
yearly on Oct. 1 from 1912 to 1920 Inclusive.
54.600 57 (assessment) bonds.
Denomination $1,000, except one bond of
$600 57. Maturity $3,600 57 on Oct. 1 1911, $4,000 on Oct. 1
1912, $5,000 on Oct. 1 1913 and $6,000 yearly on Oot. 1 from
1914 to 1920 Inclusive.
The above bonds are dated Oct. 1 1910.
Interest semi-annually at the
fiscal agency
of Kansas In Topeka.
tfov. 26 1910.1
THE CHRONICLE
Williamsport School District (P. O. Williamsport),
Lycoming County, Pa.—Bonds Voted.—On Nov. 8 the
electors of this district ratified a proposition to issue $25,000
school-building bonds.
Wirt County (P. O. Elizabeth), W. Va.—Bonds Voted.—
It is reported that the issuance of $45,000 court-house bonds
was authorized by a vote of 1,149 to 493 at the Nov. 8 elec¬
tion.
Removal of County Seat Defeated.—Reports further state
that at the same election a proposition to remove the county
seat from Elizabeth to Palestine was defeated.
1471
Yonkers, N. Y.—Bond Offering.—Proposals will be
ceived until 12 m. Nov. 28 by Joseph
Miller,
for the following 4^% registered bonds:
re¬
Comptroller,
$125,000 revenue bonds.
Maturity April 1 1915.
40,000 school bonds.
Maturity $2,000 yearly on Nov. 1 from 1911 to
1930 inclusive.
40,000 water bonds.
Maturity $1,000 yearly on Nov. 1 from 1911 to
1950 inclusive.
20,000 city-hall bonds.
Maturity $1,000 yearly on Nov. 1 from 1911 to
1930 inclusive.
Date Nov. 1 1910.
Interest April
The opinion of Hawkins, Delafield &
1 and Oct. 1 In New York exchange.
Longfellow, of New York City, certi¬
fying to the validity of the above issues, will be furnished to the purchaser.
Certified check for 2% of bonds bid for, payable to the
Comptroller, is
required.
Bonds will be ready for delivery Nov. 30.
Bids to include
accrued Interest.
Wood County (P. O. Grand Rapids), Wis.—Bond Sale.—
On Nov. 16 the $50,000 4^6% gold coupon insane-asylum
bonds described in V. 91, p. 1281, were awarded to the First
Trust & Savings Bank in Chicago at 101.21 and accrued in¬
terest.
The
following bids
Farson, Son & Co., Chic.*$50,361 25
First Tr. & S. Bk., Chic.*$50,605 00
S. A. Kean & Co.. Chic.-. 50.660 00
Ulen & Co., Chicago
£50,537 00
Emery, Peck & Rockwood,
Chicago
£50,515
Dewitt, Tremble & Co.,Ch. 50,427
N. W. Halsey & Co., Chic.*50,405
A. B. Leach & Co., Chic.. *50,390
received:
were
C.
E.
C.
H.
00
E.
H.
M.
T.
Denison & Co.,Clev.*50,286
Rollins & Sons,Chic.*50,275
Smith & Co., Chic..£50,265
Holtz Co., Chic
£50,261
75
00
00
00
McCoy & Co., Chicago
*50,130 00
00 H. C. Speer & Sons Co.,
00
Chicago
*50,080 00
Wm. R. Compton Bond &
Continental & Commercial
Trust & S. Bk., Chic
£50,375 00
Mortgage Co., St. Louis 50,057 00
•
And accrued Interest.
£
00
Accrued interest and blank bonds.
Maturity 33,000 April 1 1911, $4,000 April 1 1912, $5,000 April 1 1913,
$6,000 April 1 1914, $2,000 yearly on April 1 from 1915 to 1924 inclusive
and $12,000 April 1 1930.
Wood County Common School Districts, Texas.—Bonds
Registered.—The State Comptroller on Nov. 14 registered
the following bonds:
$1,000 5%
•00 5%
1,000 5%
1,000 5%
1,000 5%
10-20-year
10-20-year
10-20-year
10-20-year
10-20-year
(optional)
(optional)
(optional)
(optional)
(optional)
District
District
District
District
District
No.
No.
No.
No.
No.
1 bonds.
8 bonds.
12 bonds.
37 bonds.
61 bonds.
Wyandotte, Wayne County, Mich.—Bonds Voted.—
According to local papers, an election held recently resulted in
favor of the question of issuing $68,000 sewer bonds.
Wymore, Gage County, Neb —BondElection.—An election
will be held Dec. 1, it is stated, to vote on a
proposition to
issue $57,000 municipal-water and lighting-plant bonds.1
Youngstown, Ohio.—Bond Sale.—The following bids were
on Nov.
14 for the fifteen issues of 5% streetimprovement bonds described in V. 91, p. 1281:
received
$5,000
$3,000
$295
Bonds.
Bonds.
Bonds.
Seasongood & Mayer,Cin__*$5,108
B. F. Wirt, Youngstown
Firemen’s Pen. Fd., Youngs.
James Squire, Youngstown.
New First Nat. Bk., Colum. 5,103
Field, Longstreth & Co.,Cin. 5,106
Davies-Bertram Co., Cin
5,101
Stacy & Braun, Toledo
5,089
Weil, Roth & Co., Cincin___ 5,088
$4,285
$430
$805
Bonds.
Bonds.
00 $3,034 00
*3,046 71
*$301 22 $439 07 $805 9
*442 12
80
3,023
00
3,036
00
3,030
75
3,024
50
$2,265
Bonds.
80
00
50
05
Bonds.
297 00
$3,175
Bonds.
432 00
$860
Bonds.
*816 59
807 00
$1,425
Bonds.
Seasongood & Mayer,Cin *$4,409 25*$2,330 58*$3,267 10
•_
Firem.Pen.Fd.,Youngst2,312 79
3,241 99*$878 14*$1,455 06
Field, Longstreth&Co.,Cin 4,409 00
2,325 00
3,266 00
862 00
1,455 00
New First N. Bk., Colum 4,406 80
2,306 80
3,259 80
1,440 80
Weil, Roth & Co., Cin__ 4,398 55
Davies-BertramCo. ,Cln_
1,447 00
$5,735
$930
$695
$2,650
$725
Bonds.
Bonds.
Bonds.
Bonds.
Bonds.
Seasongood & Mayer, Cin__*$5,909 00
$2,727 00
Jas. Squire, Youngstown
*$956,31
Firemen’s Pen.Fd.,Youngst.
949,62*$709 66
2,705 91 *$740 29
Field, Longstreth & Co.,Cin_ 5,901 50
697 00 *2,727 00
032 00
727 00
New First Nat. Bk., Colum. 5,898 80
2,705 80
Weil, Roth & Co., Cincin... 5,887 55
Davies-Bertram Co., Cin
944 00
735 00
*
These bids were successful.
Canada, Its Provinces and Municipalities.
Casselman, Ont.—Debenture Offering.—Proposals will be
stated, for $5,000 5% debentures.
received at once, it is
Jos. Racine is Mayor.
NEW LOANS.
NEW LOANS.
NEW LOANS.
$750,000
KANSAS CITY, MISSOURI,
$25,000
TOWN OF KEARNY, HUDSON CO., N. J.,
$406,000
City of Tacoma, Washington,
Play-Ground Bonds
Public Wharf and Dock Bonds
BONDS
Staled
proposals will be received by* the under¬
signed, the Mayor and the City Comptroller of
Kansas City. Missouri, until December 15th 1910
for the purchase of all or any
part of the following-named bonds of the City of
Kansas City. Missouri, in the following-named
at 10 o’clock A.M.,
amousts:
CLASS “A”
Water Works Bonds, Second Issue. .$500,000 00
CLASS “B”
Fire Protection Bonds, Second Issue.
$50,000 00
Incinerating Plant Bonds
100,000 00
Kansas City Bridge Bonds.
100,000 00
_
$250,000 00
Class “A” bonds bear interest at the rate of
four per cent per annum.
Class “B” bonds bear
Interest at the rate of four and one-half per cent
All of these bonds are of the de¬
per annum.
nomination of $1,000 00 each, dated September 1st
1910, to mature September 1st 1930.
Interest
payable at the office of the City Treasurer of
Kansas City, Missouri, or at the Chase National
Bank in the City and State of New York, at the
option of the holder.
No bid will be received which Is in whole or In
part less than par.
The legality of the bonds will be approved
by
Messrs. Dillon, Thomson & Clay of New York,
whose opinion as to the legality, or duplicate
thereof, will be delivered to the purchaser or
purchasers of said bonds.
Each bid must be made on a blank form fur¬
nished by the City, and must be accompanied by
a duly certified check on a National Bank doing
business In Kansas City, Missouri,
payable to the
order of the City Comptroller of Kansas City,
Missouri, for 2 per cent of the par value of the
bonds bid for.
The right Is reserved to reject
any and all bids.
Delivery of the bonds will be made on Tuesday,
January 3rd 1910, at 10 o’clock A. M., at the
office of the City Comptroller of Kansas City, In
Kansas City, Missouri.
Bids will be received at
the office of the Mayor of Kansas City, Missouri;
In the City Hall In said City; but no bid will be
entitled to consideration unless received by or
before the hour above set for receiving bids.
Printed circulars containing more definite and
detailed information with reference to said bonds,
and blank forms for bids, can be had on applica¬
tion to the City Comptroller of Kansas City,
Missouri, or to Messrs. Dillon, Thomson & Clay
of New York.
DARIUS A. BROWN,
Mayor of Kansas City, Missouri.
GUS PEARSON.
Comptroller of Kansas City, Missouri.
MUNICIPAL AND RAILROAD
BONDS
LIST ON APPLICATION
SEASONGOOD & MAYER
■•rantU. Library Building
omomrATi
Sealed proposals will be received by the Coun¬
cil of the Town of Kearny, Hudson County,
N. J„ at the Town Hall, DECEMBER 14TH,
1910, AT 8 P. M., for the purchase of
$25,000 00 4H% 20-Year Play Ground Bonds.
Each bid must be accompanied by a certified
check for $1,000 00.
The Council reserves the
right to reject any or all bids.
For further information, address
BURTON E. CANFIELD, Town Treasurer.
Notice is hereby jrfven that on THURSDAY,
THE 8TH DAY OF DECEMBER, 1910, at the
hour of 2 o’clock p. m. at the office of the Mayor
of the City of Tacoma, Washington, in the City
Hall, sealed bids will be received for an issue of
City of Tacoma bonds in the sum of Four Hundred
and Five Thousand Dollars; said bonds will be
general bonds of the said City of the par value of
$1,000 each, payable In twenty years from the
date of issue, with Interest at not exceeding 5%
payable semi-annually at the fiscal
Washington in New York
“City of Tacoma Public
Wharf and Dock Bonds,” issued pursuant to
Ordinance No. 4295, passed September 21st, 1910,
published September 23d, 1910.
Bids for said bonds will be received, based oa
the Interest rate proposed by the bidder, which
per annum,
agency of the State of
McCOY & COMPANY
Municipal and
Corporation Bords
La Sallo Straat,
181
City, and
are known as
cannot exceed 5%.
Chltago
The right is reserved by the City to award the
bonds or any part thereof to the highest and best
bidder, or to reject all bids; and the right is also
reserved to require a bond from a successful
bidder for the performance of his contract to take
and pay for the bonds awarded.
For all information apply to John F. Meads,
City Controller.
F. WM. KRAFT
Dated
1910.
Tacoma, Washington, November 8th,
SINKING FUND BOARD,
A. V. FAWCETT,
LAWYER
Mayor.
Specializing in Examination of
J. F. MEADS,
City Controller.
Municipal and Corporation Bonds
1S12 FIRST NATIONAL BANK BLDU..
RAY FREELAND,
Commissioner of Finance.
November 8, 9, 10, 11, 12, 13, 14, 15. 16, 17,
1910.
CHICAGO, ILL.
The
Trust
Company of America
37-43 WALL
STREET, NEW YORK
COLONIAL BRANCHi
222
LONDON OFPICEi
95 Grotham St.
Broadway, New York.
CAPITAL AND SURPLUS SS.OOS.OOO
Invites accounts of individuals firms and
Pays interest
on
corporations.
daily balances.
Executes trusts of every description.
1473
THE CHRONICLE
Clinton Township, Ont.—Debentures Voted.—According to
reports, the rate-payers have passed a by-law providing for
the issuance of $4,475 5% debentures, due part yearly for
20 years.
Diamond City, Alta.—Debenture Sale.—Brent, Noxon &
Co. of Toronto, it is stated, have been awarded the $17,000
6% 20-year school debentures mentioned in V. 91,
to
p.
1282.
Dorchester Township, Ont.—Debenture
Sale.—According
recently awarded $2,652 5%
reports, a local investor was
debentures, re-payable in 10 installments.
Guernsey, Sask.—Debenture Sale.—Reports state that
the National Finance Co. of Regina has been awarded the
$3,000 5>£% fire-protection debentures mentioned in V. 91,
p. 1282.
Irvine, Alta.—Debenture Offering.—Proposals will be re¬
ceived until Dec. 15 by J. F. O. Barschel, Secretary-Treas¬
urer, for $5,000 6% fire-protection debentures voted on
Aug. 29 (V. 91, p. 671).
Kincardine, Ont.—Debenture Election.—Reports state that
an election will be held to vote on by-laws providing for the
issuance of $7,000 sewer and $2,500 bridge debentures.
Lethbridge, Alberta.—Price Paid for Debentures.—We are
advised that the price paid for the $316,000 4^% coupon
debentures, awarded on Nov. 2 to Wood, Gundy & Co. of
Toronto (V. 91, p. 1347), was 97.51. The debentures answer
the following description:
$30,000 debentures to purchase land for Industries.
Maturity 30 years.
50,000 Coutts Street bridge debentures.
Maturity 30 years.
30.500 to make up a debenture shortgage.
Maturity 30 years.
10.500 debentures to build stables.
Maturity 20 years.
12,000 steam-shovel debentures.
10
years.
Maturity
148,000 sewerage, water and power extension debentures.
Maturity 30
years.
35,000 street-extension debentures.
Maturity 30 years.
Denomination $1,000.
Date Aug. 1 1910.
Interest semi-annually at
the Bank of Montreal in Montreal, Toronto and Lethbridge.
Maisonneuve, Que.—Debenture Sale.—According to re¬
ports an issue of $175,000 4% 40-year debentures was
awarded recently to R. Wilson Smith & Co. of Montreal.
Marmora, Ont.—Debenture Election.—An election will be
held Nov. 28, it is stated, to vote on the question of issuing
$2,000 debentures for the purchase of an electric-light-plant
and
[VOL.
$10,000 for the construction of
an
station.
LXXXXI.
electric-light-sub-
Nanton, Alberta.—Debenture Sale.—C. H. Burgess & Co.
bidders on
$1,500 fire-
of Toronto, offering 94.24 were the successful
Nov. 15 for the $6,000 electric-light and the
rotectionis 5%
1054.
fnterest
coupon
describedpart
in V.yearly
91, p. for
Nanton. Maturity
payable
in debentures
20
years.
The
following bids
were
received:
C. H. Bureess A Co., Tor.-$7,068 0<T H. O’Hara A Co.. Toronto_$6,777 OO
Bank of Hamilton, Toronto 6,937 50 G. A. Stimson 6s Co., Tor.. 6,625 50
National Finance Co.. Tor. 6,911 00 Nay & James, Regina
6,607 00
Wood, Gundy A Co., Tor.. 6,911 00
Peterboro, Ont.—Debenture Sale.—Issues of $12,500 20and $50,000 30-year 4J^% debentures have been sold,
stated, to Wood, Gundy & Co. of Toronto.
Radway School District No. 2136 (P. O. Radway), Alberta.
—Debenture Sale.—On Oct. 1 Nay & James of Regina were
awarded $1,500
school-house and ground-improvement
debentures at par. Interest annually on Dec. 1.
Maturity
part yearly on Dec. 1 from 1911 to 1920 inclusive.
year
it is
Sarnia, Ont.*—Debenture Sale.—On Nov. 14 an issue of
$23,334 5% local-improvement debentures was awarded to
Wood, Gundy & Co. of Toronto for $23,815, the price thus
being 102.061. Maturity part yearly for 20 years.
Shellmouth, Man.—Price Paid for Debentures.—We are
informed that G. A. Stimson & Co. of Toronto paid 99.27
and accrued interest for the $10,000 5% 20-year debentures
awarded them (V. 91, p. 1403) on Nov. 1.
The following
bids
were
also received:
National Finance
Co.,Reglna-$9,818|C. H. Burgess A Co., Toronto.$9,666
Nay A James, Regina..
9,704|J. G. Mackintosh, Winnipeg..
9,210
Victoria, B. C.—Debenture Sale.—Reports state that the
$502,689 4% debentures offered on Nov. 14 (V. 91, p. 1283)
were
sold to G. A. Stimson & Co. of Toronto at 96.04.
Wakeley, Sask.—Debenture Election.—Reports state that
an election will be held to vote on the
question of issuing
$24,000 5% road debentures.
Yorkton, Sask.—Debenture Sale.—On Nov. 15 W. A.
MacKenzie & Co. of Toronto
were
awarded the six issues of
5% debentures, aggregating $140,000, described in V. 91,
p. 983.
NEW LOANS
TRUST COMPANIES.
$6,000
GORDO, ALABAMA,
Nederlandsch Administrate- & Trustkantoor
(NETHERLANDS ADMINISTRATION A TRUST OOMPANY )
218 Slngel - AMSTERDAM. (Holland.)
SCHOOL BONDS
H. MEIHhSZ, President
Board of Directors!
Sealed bids for $6,000 00 of twenty-year semi¬
annual five per cent School Building Bonds of the
Town of Gordo, Alabama, are to be opened at
the Council Meeting of said town on the 19TH
DAT OF DECEMBER, 1910.
Bonds cannot be
sold below par.
Gordo is a thriving young town
on the Mobile A Ohio Railroad of 800 population,
with no debt, and the leading town of Hie County.
Sealed bids should be filed with,
W. S. CARVER. Mayor.
H. WALTER. L. D..
Chairman,
de Kook & Uyt den Bogaard.
A. A. H. BOISSEVAIN.
Director of Swim Bankvercin and
of Labouchere. Oyenai A Go's Bank.
J. A. DUYNSTEE.
Telders A Co.
Banker.
Arnold Glllssen.
Mnieipal and Corporate Buds
We offer
a
very
as
as
Executor, Administrator, Trustee,
Trustee of Corporation Mortgages.
Guardian, Agent, els.
exceptional
DRAINAGE
BOND
SUinotsi Hmretp Company
NBTTINO
Homo
6%
400 The
Westerwoudt A Co.
W. M.
SCHEURLEER.
Scheurleer A Zoonen
^
Jan Katff A do.
Acts
Acts
H. MEINESZ.
President.
P. M. J. OILISSEN
Reynolds, Watson & Co.
R. Mew & Zoonen.
Q. H. DE MARBZ OYENS.
Labouehere, Oyeas A Go’s Bank.
A. L. O. H. PICHOT*
F. Th. EVERARD.
AUO. KALFF.
Ph. MEES.
1
Rookery
Office, 206 La Salle Street
CHICAGO
CHICAGO
WRITES ALL CLASSES SURETY BONDS
Court—Fidelity—Contract—Miscellaneous
ESTABLISHED Iftti
H. C. SPEER & SONS CO.
First Nat Bank Bldg., Chieage
The motto
of the Illinois Surety Company is “Prompt Service1*
both in the handling of its business and the adjustment of its losses
SCHOOL,
COUNTY AND
MUNICIPAL BOND8
Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
FIBST NATIONAL BANE BUILDING
Tor full information
CHICAGO
AQL tn CQL
^yO
ULEN
•ANKERS
&
as to our system of reporting on proposed
legislation relating to Transportation, Commerce,
Manufacturing, and similar subjects, address
or new
MUNICIPAL BONDS
Batost investments
known. Yielding from
FORTY-ONE STATE LEGISLATURES
AND CONGRESS
ARE ABOUT TO CONVENE
^/O
Write for
Circular.
CO.
CHICAGO
2£be ©orporatiou %xnst Co.
37 Wall Street,
New York
THE CHRONICLE
Nov. 26 1910.'
fj-htatxcial.
gitiamcial
Adrian H. Muller & Son,
AUCTIONEERS.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York. January 21st, 1010.
Regular Weekly Sales
OP
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affairs
on the 31st of December, 1909.
Premiums on Marine Risks from 1st January, 1909, to 31st December, 1909
..33,759,391 25
Premiums on Policies not marked off 1st January, 1909...
717,712 70
....
STOCKS and BONDS
EVERY
WEDNESDAY
Office. No. 55 WILLIAM STREET.
Corner Pine Street.
Total Marine Premiums
HEAT &, POWER COMPANY
BONDS
All IttUM
A. H. Bickmore & Co.
Interest received during the year
Rent less Taxes and Expenses
Less Salvages
Re-Insurances
Telephone 2817 Reet
INSURANCE STOCKS
Fidelity, Phoenix, Home,
Niagara, Continental, &o.
3467,726 28
3249,891 07
235,520 48
485,411 55
31.493.426 20
ASSETS.
United States & State of New York
Stock, City, Bank and other Se„
curl ties
35,461,042 00
cor.
Wall & W1111amSts.,
Estimated Losses and Losses Un¬
settled
32,393,207 00
Premiums on Unterminated Risks.
685,546 90
Certificates of Profits and Interest
Unpaid
Exchange Place-34,299,426 04
263,468 95
120,569 42
Return Premiums Unpaid
Certificates of Profits Ordered Re¬
Other Real Estate &
claims due the com¬
deemed,
75.000 00
Premium notes and Bills Receivable
Gash In the hands of European
Bankers to pay losses under poli¬
cies payable In foreign countries.
Cash In Bank
Aggregating.
360,285 14
3356,913 94
LIABILITIES.
Special deposits In Banks ATrustCos. 1,000,000 00
pany
Batabilshed 1864
8322,046 46
145,679 82
Returns of Premiums
Expenses, Including officers’ salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc
A
New York
30 Pine Street,
...
#3,791,557 05
.....
Losses paid during the year which were estimated In 1908
and previous years
3829,378 19
Losses occurred, estimated and paid In 1909
1,149,459 56 31,978,837 75
Real Estate
BANKERS
84,477,103 95
Premiums marked off from 1st January, 1909. to 31st December, 1909
NATIONAL LIGHT,
GUARANTEED
xvi t
4,374,426 04
1,213,069 68
Withheld
Premiums
Certificates of
for
Unpaid
22.353 49
Outstand¬
Profits
ing
Real Estate Reserve Fund
7,404,890 00
370,000 00
239,948 04
633,405 13
312.921.890 89
Aggregating
....
311.260,125 76
BOUGHT AND SOLD
A dividend of Interest of Six per cent on the outstanding certificates of profits will be paid
holders thereof, or their legal representatives, on and after Tuesday the first of
February next.
E. S. BAILEY
NEW YOR£
66 BROADWAY
C. B. Van
Nostrand
By order of the Board.
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN.
JOHN N. BEACH.
JOHN CLAFLIN,
GEORGE C. CLARK.
CLEVELAND H. DODGE.
M WALL STREET
INDUSTRIALS
CORNELIUS ELDERT,
RICHARD H. EWART,
PHILIP A. S. FRANKLIN,
HERBERT L. GRIGGS.
WE WISH TO BUY
to the
The outstanding certificates of the Issue of 1904 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the first of February next, from which date all
Interest thereon will cease.
The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent Is declared on the net earned premiums of the Company for the year
ending 31st December, 1909, which are entitled to participate In dividend, for which, upon appli¬
cation, certificates will be issued on and after Tuesday the third of May next.
G. STANTON FLOYD-JONES. Secretary.
TRUSTEES.
CLEMENT A. GRISCOM,
ANSON W. HARD.
LEWIS CASS LED YARD.
CHARLES D. LEVERICH,
LEANDER N. LOVELL,
GEORGE H. MACY.
CHARLES H. MARSHALL.
NICHOLAS F. PALMER.
HENRY PARISH,
ADOLF PAVENSTEDT.
CHARLES M. PRATT.
DALLAS B. PRATT.
GEORGE W. QUINTARD,
A. A. RAVEN.
JOHN J. RIKER,
DOUGLAS ROBINSON.
GUSTAV H. SCHWAB.
WILLIAM
ISAAC
SLOANE.
STERN.
WILLIAM A.
STREET.
GEORGE E. TURNURE.
A. A.
RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB, 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART. m Vice-President,
Birmingham Railway Light &
Power 4J^s
Birmingham Railway Light &
Power 6s
W.E. HUTTON &CO.
MELLON NATIONAL BANK
Member* New York Stock Exchange
Established 1886
PITTSBURGH, PA.
26 Broad Street.
-
New York
Private wires to Cincinnati. Chicago. San
Frandsco and Los Angeles.
HODENPYL, WALBRIDGE & CO.
7 Wall St.,
N.w York
As your reserve depositary, this
bank offers you perfect service and
liberal interest on your balances.
CAPITAL AND SURPLUS,
-
Railroad, Street By., Qaa A Kite. Light
87,000,000
SECURITIES
Ready About January 15, 1911
ltM
1»10
The United States Life
Insurance Co.
IN THE CITY OF NEW YORK
Issues Guaranteed Contracts
JOHN P. MUNN, M. D.f President
Finance Committee
CLARENCE H. KELSEY. Pres. TitleGu.ATr.Co
WM. H. PORTER, Pres. Chemical National Ban!
■D. TOWNSEND. Pres. Imp. A Traders Nat. Bk
er
Good men, whether experienced in life Insurance
not. may make direct contracts with this Com¬
pany, for a limited territory If desired, and seour*
for themselves, in addition to first year's oommla
■ton. a renewal Interest insuring an income for the
future.
Address the Company at Its Heme Office
No. >77 Broadway. Now York City
Range of Prices for Stocks and Bonds
FROM
1907 to
January 1, 1911
Earnings, Fixed Charges and Dividends for Series of Years
Hand Book of Securities
Price of Single Copies
To Subscribers of the Chronicle
75
The Hand-Book is issued to Bankers and Brokers with their cards
lettered in gilt on the outside cover (not less than 25
copies to one ad¬
dress) at special rates.
Commercial & Financial Chronicle
Ttont Pino and Dopejster Streets,
N*W YORK.
XMtl
THE CHRONICLE
[Voii.
©omjratttes.
LXXXXI
Qvu&t (£omjmnUs.
udim states M company of lev M,
Chartered IMS
46 and 47 WALL STREET
CAPITAL,
Manhattan
$2,000,000.00
$13,733,303.21
SURPLUS AND UNDIVIDED PROFITS
Trust
This Company acts as Executor.
Administrator. Guardian. Trustee, Court Depositary and la
•tier recognised trust capacities.
It allows Interest at current rates on deposits.
It holds, manages and Invests money,
securities and other property, real or personal, tor estates
•separations and individuals.
Company
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILPRED J. WORCESTER, Asst. Sec. CHARLES A.
EDWARDS, 2d As8t.Sec.
TR V? STUBS
W
JOHN A. STEWART,
Gustav H. Schwab.
Frank Lyman,
James Stlllmar
Bayard Cutting.
William Rockefeller,
Alexander E. Orr
fftttam H. Maey Jr.,
William D. Soane,
John Claflln,
John J. Phelps.
Temporary Offices
•
Chairman of the noara.
Lewis Cass Led yard,
Lyman J. Gage.
Payne Whitney,
Edward W. Sheldon.
Chaunoey Keep
George L. Rives,
Arthur C. James,
William M. Kingsley.
William Stewart Tod.
Ogden Mills.
Egerton L. Wlnthrop
H3 BROADWAY
WALL STREET
Fidelity Trust Company
CORNER NASSAU
NEWARK, N. J.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Industrial Trust Company
Providence, R. I.
CAPITAL
SURPLUS.
.$$.000,000
-
Acts
Executor, Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Real and Personal Estates.
Guarantees Titles of
Real Estate throughout New Jersey.
as
General
Banking and Savings Departments. Bond Department for
purchase and sale of municipal and public utility securities. Safe
Deposit
Department.
CENTRAL TRUST COMPANY
of NEW YORK
54
Wall Street
.
8,000,000
OFFICERS.
Cyrus P. Brown, President
Arthur L. Kelley, Vice-President
H. Martin Brown, Vice-President
Otis Everett, Vice-President
Joshua M. Addeman, Vice-President
Ward E. Smith, Treasurer
Chas. H. Manchester. Secretary
H. Howard Peeper, Asst.Treas.
Frederick B'. Wilcox .Auditor
BOARD OF DIRECTORS.
Samuel P. Colt
Herbert N. Fenner
Olney T. Inman
J. Milton Payne
William R. Dupee
Eben N. Littlefield
Richard A. Robertson
Otis Everett
Joshua M. Addeman
O. Prescott Knight
James M. Scott
Jesse H. Metcalf
William H. Perry
John J. Watson Jr.
Arthur L. Kelley
Charles H. Allen H. Martin Brown
John B. Branch
George F. Baker
William P. Chapin
George M. Thornton
Cyrus P. Brown
Chas. C. Harrington
Angus McLeod
Ezra Dixon
Howard O. Sturgis
Edward D. Pearce
Louis H. Comstock
Engiehart O. Ostby
Capital and Surplus, $18,000,000
(of which $ 17,000,000 has been earned)
Hitumclal.
Executor, Trustee, Administrator or Guardian.
Receives Deposits, subject to check, and allows Interest on
Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under
Mortgages.
BLODGET & CO.
Authorized
to act
as
BONDS
00 STATE STREET, BOSTON
90 PINE STREET, NEW YORK
STATE, OXTY & RAILROAD BONDS
CHARTERED 1864
Union Trust Company of NewYork
FORRE8T & CO.
BANKERS
4S1 Chestnut St..
MAIN OFFICE: 80 BROADWAY.
Municipal and
Corporation Bonds
Uptown Office:
425 Fifth Avenue, corner 3Sth
Street,'
With Modern Safe Deposit Vaults
Capital $1,000,000
Surplus (earned) $7,737,000
ALLOWS INTEREST ON DEPOSITS.
Acts
as
PHILADELPHIA. PA.
Executor, Guardian, Trustee, Administrator and In all
Fiduciary Capacities
on behalf of Individuals,
Institutions or Corporations.
READY ABOUT JANUARY 15
Hand-Book of Securities
January 1911 Edition.
DESCRIPTION
PRICES
INCOME
IlliiioislYust & Savini>s Bank
DIVIDENDS
CHICAGO
Price of
Capital and Surplus
$13,600,000
Pays Interest
Time Deposits, Current and Reserve Accounts.
Deals in Investment Securities and
Foreign Exchange.
Transacts a General Trust Business.
on
CORRESPONDENCE INVITED.
Single Copies
.
.
.
To Subscribers of the Chronicle
$1 00
Tl
The Hand-Book Is issued to Bankers and
Brokers with their cards lettered In gilt on the
outside cover (In quantity) at special rates.
Commercial & Financial Chronicle
Front, Pine and Depeyster Sts.'
N'OV. 26
THE CHRONICLE
1910.]
XIX
gtawl Cmtipattijeg.
The NEW ENGLAND
TRUST COMPANY
OLD COLONY TRUST COMP AN \
BOSTON, BASS.
BOSTON, MASS.
APITAL. 11.000. WO
SURPLUS. * a.000.000
fcf. Deposit Vaults
Authorised to act aa Executor, and to reoelve
»nd hold money or property In trust or on deposit
from Courts of Law or
Equity Executors,
Administrators, Assignees. Guardians Trustees.
Corporations and Individuate.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed on Deposits Subject to Check
OFFICERS
DAVID R. WHITNEY. President
CHARLES P. CHOATE, Vice-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER. Vice-President
JAMES R. HOOPER. Actuary
HENRY N. MARR, Secretary
FRED. W. ALLEN. Asst. Sec. A Treas
THOMAS E. EATON. Asst. Treas.
FRANCIS R. JEWETT. Trust Offloer
CHAS. E. NOTT, Mgr. Safe Dep. Vlts.
BOARD OF DIRECTORS
William Endloott. Chairman
Walter C. Baylles
James G. Freeman
Alfred Bowdltoh
Morris Gray
3. Parker Bremer
James R. Hooper
Ernest Loverlcg
Timothy E. Byrnes
Charles F. Choate
Henry H. Proctor
Alexander Cochrane
James M. Prendergast
Herbert
M. Sears
Philip Dexter
William Endloott Jr.
Francis W. Fabyan
William Farnsworth
Frederick P. Fish
Lawrence M. Stockton
Nathaniel Thayer
Capital and Surplus
T. JEFFERSON COOLIDGE JR.. Chairman Executive
Committee.
GORDON ABBOTT, Chairman of Board.
FRANCIS R. HART. Vice-Chairman.
Philip Y. DeNormandle
Henry C. Jackson
Philip Dexter
George E. Keith
rdlm M. Lane
George A. Draper
Gardiner
Charles F. Adams 2nd
F. Lothrop Ames
Oliver Ames
C. W. Amory
William Amory
Charles F. Ayer
John S. Bartlett
Samuel Carr
B. P. Cheney
H on.T. JefferaonCoolldge
T. Jefferson Cooltdge Jr.
Charles E. Cotting
AJvah Crocker
Frederio C. Dumalne
William Endloott Jr.
W11 mot R. Evans
Frederick P. Fish
Reginald Foster
George P. Gardner
Edwin Farnham Greene
Robert F. Herrick
Henry S. Howe
Girard Trust
Company.
31.000.00*
DIRECTORS.
Henry Q. Brengle.
James Crosby Brown.
John Cadwalader,
E. W. Clark Jr..
Eckley B. Coxe Jr.,
Edwin 8. Dixon
Eugene L. Ellison.
Joseph C. Fraley.
Harry C Francis.
Henry L. Gaw Jr..
J. Levering Jones.
Malcolm Lloyd.
John Mcllhenny.
Richard Wain Mein.
Clement B. Newbold
John W. Pepper,
William F. Read.
Adam A. Stull.
Edward D. Toland,
Joseph R. Walnwrlght.
Howard S. Graham.
William D. Wlnsor.
Samuel F. Houston.
as
Executor, Administrator. Trustee.
Assignee and Receiver.
A GENERAL FINANCIAL AND FIDUCIARY
BUSINESS TRANSACTED.
or
Corporations.
Interest Allowed
Individual and
Corporation Accounts.
Acts as Trustee of Corporation Mortgages.
Depositary under Plans of Reorganization.
Registrar and Transfer Agent.
Assumes entire charge of Real Estate.
Safes to Rent in Burglar-Proof Vaults.
on
DIRECTORS.
B. B. MORRIS, President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON. 2d Vice-President.
C. J. RHOADS, 3d VIoe-Pres. and Treasurer.
E. S. PAGE, Secretary.
MANAGERS:
Edward J. Berwlnd.
Effingham B. Morris.
John A. Brown Jr.,
Randal Morgan,
John B. Garrett,
Edw. T. Stotesburv,
William H. Gaw.
Charles E. Ingersoll.
Francis I. Gowen,
John S. Jenks Jr..
Geo. H. McFadden,
Henry B. Coxe,
Henry Tatnall,
Edgar C. Felton,
Isaac H. Clothier,
Thos. DeWltt Cuyler,
C Hartman Kuhn,
James Speyer,
WUUam T. Elliott.
W. Hlnckle Smith.
B. Dawson Coleman.
Broad and Chestnut Streets.
PTTTT.Any.TrPTTTA
John I. Beggs. President Milwaukee Light Heat *
Traction Co.
Wilbur F. Boyle, Boyle 8b Priest.
James E. Brock. Secretary.
Murray Carleton, President Carleton Dry Goods 0«.
Charles Clark.
Horatio N. Davis. President SmithSsDavls Mfg.O*.
John D Davis. Vice-President.
David R. Francis, Francis, Bro. 8b Co.
S. E. Hoffman, Vice-President.
Breckinridge Jones. President.
Win. G. Lackey, Vice-President and Bond Office?
W. J. McBride. V.-Pres. Haskell 8s Barker Car Oe
Nelson W. McLeod, Vice-President GraysonMcLeod Lumber Co.
Saunders Nor veil. President Norvell-Shaplelg?
Hardware Co.
Robert J. O’Reilly. M. D.
Win. D. Orthwein. President Wm. D. Orth we?:
Grain Co.
Henry W. Peters, President Peters Shoe Co.
H.C. Pierce. Chairman Board Waters-PlerceOll Os,
August.Schlafly, August Schlafly 8b Sons.
R. H. Stockton, President Majestlo Mfg. Co.
Julius S. Walsh. Chairman of the Board.
Rolls Wells.
(Cotton.
Hospital
Trust Company
L. F. DOMMERIGH & GO.
PROVIDENCE, R. I.
S2.000.000
S2.000.000
SURPLUS
Fourth & Pine Sts., St. Louis.
CAPITAL, SURPLUS lea KAn Ann
and PROFITS! V»,04U,UUU
CHARTERED 1830.
Rhode Island
CAPITAL
Sidney W. Winslow
Mississippi Valley Trust Co.
Capital and Surplus, $10,000,000
Financial Agent for Individuals
HENRY G. BRENGLE. President.
JOS. S. CLARK, Vice-President.
OH AS. P. LINE AWE AVER. Sec. A Treas.
ADAM A. STULL, Chairman of Board.
Charles A. Stone
Galen L. Stone
Nathaniel Thayer
Lucius Tuttle
H. O. Underwood
Eliot Wadsworth
Stephen M. Weld
Trust Officer. F. M. HOLMES
„
503-505-507 Chestnut St.. Philadelphia
Henry Parkman
Andrew W. Preston
Walter Hunnewell
Richard S. Russell
Charles W. Whittier
Howard Stockton
Philip Stockton
Authorized Reserve Agent for Trust Companies in Maine, Massachusetts and Rhode Island;
Acts
CAPITAL
Col. Thos. L. Livermore
Arthur Lyman
Charles S. Meilen
Laurence Minot
Maxwell Norman
Hon. Richard Olney
Robert T. Paine 2nd
PRESIDENT. PHILIP STOCKTON.
B. DONHAM
Treasurer. FREDERIC G. POUSLAND
JULIUS R. WAKEFIELD
Cashier. GEO. W. GRANT
Manager Credit Dept., ELMER E. FOYE.
Secretary. CHESTER B. HUMPHREY
Eugene V. R. Thayer
The Trust Company
of North America
Philip L. Saltonatat
Herbert M. Sean.
Quincy A. Shaw
Vice-Presidents. WALLACE
David R. Whitney
George Wigglesworth
312,500,1
DIRECTORS.
DIRECTORS.
Roj
NEW YORK
Rot
Robert
William B. Weeded,
Edward Holbrook.
Edward D. Pearce,
James E. Sullivan,
Robert Knight,
Benjamin M. Jackso
John W. Danielson,
John R. Freeman,
Herbert J. Wells.
Charles S. Meilen.
Lyman B. Goff,
Robert W. Taft.
Rowland G. Hazard.
Webster Knight.
Nelson W. Aldrich,
Stephen O. Edwards
Samuel R. Dorranoe,
Frank W. Matteson
R. H. Ives Goddard Jr..
General Offices, 57 Greene Street
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
HERBERT J. WELLS. President.
EDWARD S. CLARK, Vice-President
CARRY NO
HORATIO A. HUNT, Vloe-President
WILLIAM A. GAMWELL, Secretary
PRESTON H. GARDNER. Trust Offioe
CYRUS E. LAPHAM, Asst. Sec’y.
JOHN E. WILLIAMS, Asst. Sec’y
HENRY L. SLADER. Asst. Sec'y
G. A. HARRINGTON. Asst.Tr.Offu
WILLIAM RAY A CO.
PHILADELPHIA.
on
die
$2,500,000
-
CHARLES O. DAWES, President.
A. UHRLAUB, Vice-President.
BDWIN F MADK. Vice-President.
WILLIAM T. ABBOTT. Vice-President.
WILLIAM R. DAWES, Cashier.
L.D. SKINNER. Asst. Cashier.
A88t- Cashier.
JCHN_W. THOMAS, Asst. Cashier.
ALBERT G. MANG, Secretary.
MALCOLM McDOWtULL, Asst.
Secretary.
WILLIAM G.
BANKING.
EDENS, Asst. Secretary
SAYINGS
Awt.
TtwrtM^fflcer.
AND
DEPARTMENTS
Jverpool CorrespondentsFREDERIC ZEREGA 8b CO
tremen
Correspondents:
MCFADDEN BROTHERS it CO
davre Correspondents:
HK5IETE D’lMPORTATION ETDECOMMIS’N
Commission Merchants.
CHICAGO
LBHNHARlS,
OTHERS
COTTON MERCHANTS
NEW YORK.
COPELAND 8b CO..
4 Cotton Exchange
New York.
CENTRAL
Orders for future delivery contracts executed
New York and Liverpool Cotton Exchanges.
TRUST COMPANY
OF ILLINOIS
R. H. ROUNTREE & CO,
JOHN L.
AND
Geo. H. M?Fadden & Bro.,
Successors to
GEO
AGENTS
GOODS FOR OWN ACCOUNT
COTTON BROKERS.
Capital and Surplus
^°R MANUFACTURERS-
u
DISCOUNT
' AND
GUARANTEE SALES
Ul
TRTJ8T
Siegfr. Gruner & Co.
COTTON, GRAIN, PROVISIONS and COFFEE
COTTON EXCHANGE BUILDING.
NEW YORK.
22
COTTON MERCHANTS
GWATHMEY & CO.
17 South William Street,
COTTON MERCHANTS
NEW YORK.
Exchange Place,
NEW YORK
ROBERT MOORE & CO.
56 Beaver Street.
New York.
ORDERS FOR FUTURE DELIVERY EXE¬
CUTED IN NEW YORK AND LIVERPOOL
aXOHANGES.
OOTTON PURCHASED FOR SPINNERS' USB.
Mason Smith & Co.,
CDTTON COMMISSION MERCHANTS
NEW
ORLEANS, LA.
DALLAS, TEX.
Buyers of Spot Cotton. Orders for Contracts Exe*1 EH
.
PHIS, VENN.
cuted In
New
Orleans,
New Yorkj
Liverpool,and Havre Markets
•
THE
CHRONICLE
[VOI,.
LXXXXI.
a-j^-
gtnatuctal.
©Ottcrw.
IPuanicial.
WOODWARD
& STILLMAN
E.H.ROLLINS&SONS
Established 1876
COTTON MERCHANTS
16 to 22 WILLIAM
*
STREET,
NEW YORK
AMERICAN COTTON OP ALL GRADES SUIT¬
ABLE TO WANTS OF SPINNERS.
BANKERS.
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Negotiate and Issue Loans for Rail¬
Corporations.
Bay and sell Bonds suitable tor
roads and Established
Investment.
Established In 1856.
Henry Hentz & Co.
206 LA SA1XE ST, CHICAGO
Fiscal Agent
for Oities and Corporations
List 011 Application
COMMISSION MERCHANTS
16
to 22
William Street, New
York.
Execute Orders for Future Delivery
COITON
At the New York, Liverpool and New Orleans
Cotton Exchanges. Also orders (or
COFFEE
At the New York Co flee Exohange
ORAIN AND PROVISIONS
at the Chicago Board of Trade and
ORAIN AND COTTON-SEED OIL
CHICAGO cn Y MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
Hubbard Bros. & Co.
CHICAGO REAL ESTATE BONDS.
CORPORATION l RAILROAD BONDS.
COFFEE EXCHANOB BUILDING
SEND FOR CIRCULARS.
At the New York Produce Exchange
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
HANOVER SQUARE.
PEABODY, H0U6HTELIN6 & CO.
NEW YORK
COTTON MERCHANTS
Liberal Advances Made
on
181 La Salle Street,
Cotton
Consignments.
F. H. PRINCE & CO.
CHICAGO.
BAHKEKS
[Established 1866 J
Hopkins, Dwight & Co.
COTTON
BOSTON. MASS.
GEO. H. BURR & CO.
and
COTTON-SEED OIL.
Room 62 Cotton Exchange Building,
NEW YORK.
LEHMAN. STERN A CO., Limited, New Orleans,
LEHMAN BROS.
Nos. 16-22 William Street. New York.
Member* of the Stock, Cotton, Coffee
and Produce Exchange*. New York.
HIGH-GRADE INVESTMENTS
BANKERS
COMMISSION MERCHANTS
Commercial Paper
43
Exchange Place
-
Boston
Chicago
Philadelphia
_
COTTON MERCHANTS,
82-92 Beaver
Street,
-
New York City
St. Louis
San Francisco
Sullivan Brothers & Co.
Municipal and Corporation Bonds
FIRST NATIONAL BANK BLDG..
CHICAGO
427
SMITH & HAYNE
Frank B. Hayne (In Commendum)
Cotton Brokers,
COTTON EXCHANGE BUILD1NQ.
ORLEANS, LA.
Chas. S. Kidder & Co.
MUNICIPAL & COR¬
PORATION BONDS
182 LA SALLE
STEER.
on
preceding page.)
^ittatuciaX,
BONDS FOR INVESTMENT
THE AUDIT COMPANY
OF NEW YORK
FIRST NATIONAL BANK BLDG.,
CHICAGO
PHILA. NATIONAL BANK BLDG.,
PHILADELPHIA
City Investing Building
165 Broadway, New York
Telephone 6780 Cortland.
New York Life
Audits and examinations.
FIRST NATIONAL BANK
-
$2,000,000
JOHN B. PURCELL. President
JOHN M. MILLER JR„ V.-Prest. & Cashier
FREDERICK B. NtiLTING, 2d Vloe-Prest
Cerreepondenee Invited
BANKERS AND BROKERS
Broadway,
Naw Yark
-
MEMBERS OF
NEW YORK STOCK EXCHANGE.
HOLLISTER, FISH & CO.
BANKERS
Members New York Stoek
Exchange
Investment Securities
Waaaau A Pina Straata, N. Y.
Ha T. HOLTZ & CO.
116 BROADWAY
Member* New York Stook Exohange.
MUNICIPAL AND
CORPORATION BONDS
RICHMOND, VIRGINIA
Capital and Earned Surplus,
“
Dominion & DominicK
Building, Chicago
Appraisals of values of lands, buildings,
machinery, etc.
Financial and cost systems of accounts.
INew York St2ck ***£•"«•
(Philadelphia “
W. T. HATCH &, SONS
71
Devitt, Tremble & Go.
STREET
[Established 1862.]
CHICAGO
ORDERS FOR FUTURE DELIVERY EXECUTED IN NEW ORLEANS, NEW YORK
AND LIVERPOOL MARKETS.
(Other cotton cards
CHESTNUT
—
PHILADELPHIA, PA.
Members
Bremen, ALBRECHT, WELD 4s CO.
NEW
BONDS
—•
BOSTON. PHILADELPHIA, PROVIDENCE
Liverpool, WELD & CO.
Exchange*
Kansas City
Orders executed on the above Exchanges, as well In
New Orleans, Chicago and foreign markets.
Stephen M. Weld & Co.,
Hem ben of New York and Boston Stoek
New York
Correspondence Invited
171 LA SALLE
STREET, OHIOAQO
United Bank Note Corporation Stocks
DICK BROTHERS &, CO.
BANKERS AND BROKERS.
80 Broad St..
•
-
•
-
Naw York.
Member! of N. Y. and Phlia. Stook Exchange*.
New York, New Orteana and Uverpool Gotten
Exchanges, New York Oom exchange
and
Chicago Board of Trade,
@FedFRASER