Full text of Commercial and Financial Chronicle : November 5, 1910, Vol. 91, No. 2367 [Copy 2]

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

/p w
\pmmerria
VOL. 91

NOVEMBER 5 1910

CLEAR I EOS—FOR

a n d D e n e ^ r T tS
byW ILLIA lC B DANA COMPANY. Front. Plae
Arnold
nTnaUT>^.'Jfr
Delbert
Jr., Vice-President
Secretary,
n rn o m ^u .VDana,
Treasurer.. Addresses
of both.
Office of the1Company.
~and
----------

NO. 2367

OCTOBER,SINCEJANUARY 1 AND
Ten Months.

Clearing* i

CHWg

pnattrial

1910.

1909.

Inc. or
Dec.

1909.

WEEK ENDING OCT. 29

Wee* ending October 29.
Inc. or
Dec.

1910.

Inc. or

1909.
Dec.
1908.
1907.
%
New Y ork..................... 7,904,089,054 10,052,341,546 —21.4
81,435,391,119
84,618.422.863
1.860,841,271
2,273,329,338
Philadelphia................ •47,026,896 653,660,090 —0.9 6.380,829,670 6,648,284,308
- f * . 1,557.851,179 1,659.364.874
P ittsb u rg h ................... 224,639.872 218,862,865
2.6
147,498,561
2,160,960,3 13 1,912,190,248 Jii: 141,157,440
51,358,573 141.966,816
48,741.182 —0.6
+ 5.4 106,441,706
B altim ore.............. ...... 168,007.003 133,896,763 ++18.5
38,437,883 51,174,2*4
1,183,119,346
+ 11.
32,737,116
3 2 , 553.520
+ 0.6
43,916.943
Buffalo................
23,280,(100 30,390,941
41,986,764 + 4.0 1,323,244,624
417.570,185
381.640.714
9.361.556
9,369,918
—0.1
28,750.892
Albany...........................
27.407.197
7,276,907
4.7
8,537,403
252,308,329
238,484.652
5.8
6.051,433
5,962,762 + 14.9
30,832.604
Washington . . .
30,003,374 ++ 2.8
5.268.684
5,780,636
299,387,900
272,383,592 ++ 9.9
7.152,276
6,543.346 + 9.3
17,535,926
Rochester — ............
17,164,064 + 2.2
4,989,275
5,605,993
174.209,521
163,625,403 + 6.5
3.412,063
3,225,138
+
5.8
11,816,643
S cranton___________
11,212,807
2.789,581
+
5
.4
4,173.275
114,327.871
105,125,446 + 8.8
2,519.381
2,601,910
10,289.278
Syracuse.......................
10,297,181 —0.09
2.238,043
2,439.897
101,797.432
88,431,981 + 15.
1,951.509
2,003,989 —3.2
— 2.6
Reading.........................
6,774,016
7,359,731 —7.9
1,865,008
2,779,243
67,251,941
62,900,392 + 6.9
1,469,253
1,484,027 — 1.0
6,407,931
W ilmington..................
1,224,768
6,952.777
1.439.103
—7.8
65,493,104
5 8 , 180,502 + 12.6
1,313,085
1,480,245
—
11.3
5 . 681.693
W ilkes-B arre_______
1.058,338
6.230.972 — 8.8
1.283,161
68,803,981
53,829,794 + 9.2
1.289.557
1,405,234 —8.3
7,744.795
Wheeling ....................
1,312,646
7,778,923
1,356,191
—0.4
75,331,948
68,692,538
+
9.7
1.742,080
1,577,698 + 10.5
6,580,900
H arrisburg...................
1,301,343
6.003.528 —7.0
1.130,89*
54,270,118
52,900,531 + 2.6
1,186,839
1,304.481 —9.0
6,487.748
Trenton .........................
964,485
6,786,683 — 4.4
1.047,476
65,696,736
63,462.102 + 3 .5
1.300,531
1,460,351 — 11.0
4,103.516
Y o r k ..............................
1,253,603
4,028,070
+
1.9
40,590,586
36.398.579
+
11.5
879,487
840,567
+
4.6
3.797,910
Erto ...............................
762,931
834,876
3.379,970
+
12.4
36,222,9.8s
29,829,327
+
21.4
753,398
763,475 — 1.3
2.550,495
G reensburg___
673,642
2,573.111 —0.9
833,523
24,309,154
23.087,355 + 5.3
524,382
568,152 —7.7
B ingham ton..............
2,344,450
544,466
497,018
1,868,600 + 25.5
20,632,693
19,522.900
+
5.7
440,050
364,900
+
20.6
C h ester.......................
2,504,291
388.000
461.600
2,194,643
+
14.1
24,173,715
20,523,164
+
17.8
544,885
470,829
+
15.7
A ltoona.......................
2,140.756
391,927
1.942.972
518,387
+ 10.2
19,429,100
16,991,918
+
14.4
485,872
403,833 + 20.3
F ran k lin ............
1.014.684
392,092
1.025,746 — 1.1
10,800,325
11,030,784 — 2.1
210,000
210,000
Frederick................ ..
— 2.8
1.115,257
240.000
1.168,321 —4.5
243’887
10,848.132
10.807.580 +0.4
Total Middle____ 9.136,358.053 11,256,186,693 — 17.9 93,233,887,515 95,139,005,755
— 2.0 2.128.082,037 2,538,637.717
—
13.0
1,760,852,513
1,927,391,228
Boston .......................
742,207,322 769.364,375 —3.5 0,852,367,966 6,905,444,365 — 0.8 165.654,930 169.542,081 — 2.3 138,554,649
Providence________
41,917.300
43,125,000 — 2.8
337,367,600
316,413,100 + 6.6
10 , 000.000
8,067,900 + 23.9
7.384,800 179,250,349
H artfo rd .....................
10.815,865
7,387.300
13,300.425 + 20.4
180,623,878
149,872,284 + 20.5
3,239,475
3.064,733 + 5.7
2,915,260
New H aven________
12,545,772
3.377.289
12,441,932 + 0.8
118,940,336
114,205,658
+
4.2
2,395,151
2,433,060
—
1.6
2,108,163
2.324,401
SprlnglloUl..................
9,486,394
9,595,761 — 1.1
94,648,118
87,972,979
+
7.6
1,737,465
1,995,000
—
12.9
1,614,361
8,330,802 + 17.5
P o rtla n d ....................
9,791,210
2,162,983
84,260,750
74.209,678
+
13.5
1,845,371
1,824,674
+ 1.1
1,575,588
11,060,882
7,913,794 + 39.8
2,478.072
Worcester ..................
97,878.229
70,634,510
2.249,315
1.588,908 + 41.6
1.337,492
6,97.1,259
6,107,115 —2.2
Pall Ulver..................
1.717,483
47,611,446
48,605,050 +38.6
— 2.0
1,462,821
1,501,926 —2
6,146,915
1,187,218
5,529,456 —6.9
New Bedford_______
1.803,106
45,625,548
40,823,833 + 11.8
1.371,548
1,390,889 — 1
2,305,992
2,174,064 + 6.0
Ixtw ell____________
1,056,236
1,266,793
21.024,371
20.154,106
+
4.3
428,241
422,263 + 1
2,399,872
Holyoke.......................
2,414,155 — 0.6
406,323
583,982
23,854,944 ___ 21,763.702 + 9.6
510,425
___
482,713
+
5
___
405,471
565.563
Total New England 859.656.789 880.290,879 —2.3 7,904,203,186 7,850,099,271 + 0.7 190.893.742 192,317,147
—0
158,545,561 202,917.371
Chicago......................... 1,163,264,457 1,213.051,405 —4.1 11,593,130,212 11,394,101,889
+ 1.8
257,602,747 273,343,330 —5. 231,293,925 233,508,662
C incinnati..................... 103,007,450 112,376,000 —8.3 1,031.763.100 1,111,166,200 —7.1
22,180,350 24,979,600 — 11.
86.232,292
C leveland.................. ..
21.359,300 24,397,650
81,328.861 + 6.0
832,035,114
711,144,311
+
17.0
18,768.056 18.067,096 + 3.
78,343,066
D etroit____ _____ _
13.964,095 17.165.532
68,736,853
+
14.0
770,396,258
625,917,417 + 23.2
16.885.259 14,307,538 + 17
Milwaukee_____
67.820.131
11,431,995 14,496,701
55,582,182
+
4.0
539,133,476
491,505,850
+
9.7
12.296.605
12,213,101
Indianapolis................
+
0
37,239.711
10,669,360 10.663,076
34,417.262
+ 8.2
388,750.920
341,650,024
+
13.8
7,068,601
7,692,262
—0.
C olum bus.....................
26.060,600
6,725,037
7.802,796
26.602,300
— 2.0
256,585,800
250,330.400
+ 2.5
6,006,800
5,782,100 + 3 .
Toledo ...........................
12.729.131
4.945.400
4,950,000
17,952,402 —29.1
177,769,597
171.219,835
+
3
.8
3,854,079
4,192,108
Peoria ...........................
3,029,142
13,654,458
4,035.248
13,297,355
+
2.7
128,342,006
119,059,383
+
7.
2,782.093
3.205.270
--T38:
Grand Rapids..............
2,573,559
11.907,559
2,593,719
11.174,657
+ 2.6
114,270,117
100,879,601
+
13.
2,610,336
2,435,195
D a y to n .................. ......
1,927,320
9,698,088
2,437,688
8,790.904 + 10.3
94,442,985
81,211,747 + 16.
2,103,424
1,802,819 ++il:
Evansville ..................
1,461,167
9,716,214
1,580,692
9,517.779 + 2.1
94,112,963
85,505,100
+ 10 .
2,016,678
2,118.692
1,715,830
K alam azoo..................
6,088,642
1,985.764
5.850,374 + 4.1
58,116,988
51,805,454
+
12
.
1,260,414
1,197,794
+
5
.
946,472
Springfield. Ill ............
4,261,612
1,036,208
3,889.546
+
9.6
43,782.052
42.308.392
+
3.
888,406
871,581
713,633
Port W ayne................
4,285,850
843.803
4,073.001 + 5.2
43,525,180
39,320,717 + 10.
860,420
960,337 —+10.1.
742,174
752,446
Y oungstow n................
6,484,1451
4,133,058 +32.7
48,151,118
38,599,245 + 24.
1,049,102
846,850 + 24.
612,720
3,344,804
635.608
Lexington.....................
+
3.4
3.233.895
34,891,010
28,249,786
+
23.
697,532
690.192
*24,606
+
1.
A k ro n _____________
692,493
4.128,000
2,675,760 + 12.3
40,814.800
31,506,156 + 29.
1,034,830
966.000 + 7.
•35,000
Rockford ____ _____
3.377,686
485,009
3,086,718 + 19.4
34,058,437
28,698,948 + 18.
801,779
713,786 + 13.3
Canton...........................
553.405
585.594
4.197.408
2,210,285 + 30.8
42,061,443
30,877,431
+
38.
*56,821
632,074
+35.6
South Bend_________
590.824
2.622,403
495,935
2.469,239
+ 6.2
22,929,576
20.441,288
12.
+
480,577
547.192
—
12
.
‘
Quincy_____________
418,923
2.549.304
480,962
2.027.147
127,230,055
23,799,461 + 14.
604.107
589,290 — 14.5
Bloomington................
2.563,300
419,073
501,812
2,244,008 +—3.0
14.2
26,936.735
22,303,953 + 20
6*2,881
404,547 +31.5
2,762,221
Springfield, Ohio----415,605
457.74*
2.299.529 + 19.7
23,552,429
21.409,685
--10.0
818,668
459,797
D eoatur.........................
+
12.8
349,611
1.875.271,
413,041
1.823.781
+ 2.8
20,770,158
18,384,859
-13.0
3*1,024
178,263
1.827.292
—
12.5
Mansfield.......................
297,530
400,622
1.670,728
+
9.4
17,583,206
+
14.
15.394,253
404,447
357,992
1,790,658
Jackson........................
+
13.5
292,031
390,081
1.729,892
+
3
.5
18.411,186
14,920,847
+
23.
3*1,500
325.000 + 2.0
1,144,24­
Jasksonvtlle, 111_____
299,476
258.300
1.171,696 —2.3
13,175,044
12,312,734
+
7.0
230.858
217,443
+ 6.2
Danville________
1.773,757
212,450
1.685.896
+
5.2
388,257
19,551,137
15,780,804 + 23.9
408.713
425,031 —3.8
882,43ft
300,413
Ann Arbor.....................
1.794.661
—50.8
7,932.278
8,045.108
—
1.4
157,948
172,724
128,032
121.069
Adrian ..................
107,100 + 19.5
141,870
1,503,946
1,148,561 +30.9
29,501
20,728 —8.0
+ 4 .2
1,545,050
21,059
L im a ....... ......................
30,0 00
1.647.147 — 6.2
14,560,698
13,219,053 + 9.4
273,689
188,817 + 45.0
2,852,719
300,000
Saginaw.......................
2,533,360 12.0
375,000
25,793,034
22,630,032
+
13.9
626,975
624,357
+
19.6
1,694,124 Not Included In+total
L ansing......................
6.430,529 Not Included In total
Not
Included
365.714
In
total
Tot. Mid. Western 1,069,148,039 1,708.384,793 — 2.3 16,606,070,258 15.984,921,124 + 13.9 367.074,220 *81,429,072 —3.8 319,962,204
334,988,241
179,551,244 + 16.7 1,917,284,553 1,598,685,903 + 20.0 44,456,982 41,497.457
San Francisco.............. 209,362,341
09.041.824
+7.1
36,047,609
+
24.0
55,064,759
Los Angeles..................
664,174,960
545,631,709 + 21.7
14.663.474 12,612,021 + 16.3
9,143,183 30,733,762
49,929,382
57.593,113 — 13.3
9,135,723
S eattle...........................
490.722,181
473,475,212 + 5.5
10,890,044 14,875,195 — 26.8
9,029,505 10,884,418
48,344,009
40,908,548 + 18.2
P o rtla n d ___________
427,241,030
315,183.027
+
36.6
9
.
820.062
8,336,893
+
17.9
6,058,293
21,737,587
5,619,847
21,917,547 — 0.8
S p o k a n e ....... ...........
200,083,247
163,520,619
+
22.4
4,371,527
4.548,918 —3.5
3,008,059
20.454,160
3,059,507
Salt Lake City..............
30,094,870 — 12.1
264,084,819
271,123,406 — 2.6
5,587,699
6.793.733 — 17.8
4,698.835
24,787,913
26,845,904
5,117,617
T acom a.........................
—7.7
238.441,370
229,336,403
+
4.0
6 , 058,000 — 17.6
4,991,263
14,020,455
4,486,999
4,941,732
+79.0
Oakland.........................
7,830,243
128,035,810
78,757,405
2.949,489
1.710.032 + 72.5
4,289,624
1,403,404
1,976,875
Helena .................. ..
4.940.889 + 13.2
38,282,814
38,695,353 +63.3
— 1.1
1,131,907
1.701,705
6,758,974
—33.5
849,580
+
37.2
1,203,205
Sacramento...................
4,925,118
55,023,610
43,068,482 + 29.2
1,538,922
1,088,347 + 41.3
786,525
5.800.000
San Diego....................
4.191,895 +38.4
56,065,866
43,259,891)
+
29.6
1
,
200,000
862,000
+39.2
3.015,493
700.000
S to ck ton.............. .......
2,690,339
+ 11.8
2 5 , 900,739
22.373,794
+
15.8
690,003
554,268
+
24.5
460,336
8.600.000
Fresno...........................
500,000
3,248.904 + 10.8
30,020,330
22,527,342 33.3
931,086
706,840 +31.7
2,803,738
678,369
San Jose......... ...............
2,750,229 + 4.1
23,137,780
20,128,668 +- -14.9
487,754
604,412 —
19.3
497.000
2,472,598
Worth Yakim a............
400,000
1,919,740 + 28.8
19,892,008
16,519,651
+
28.2
575,489
421,710
+
36.5
289,723
Billings .........................
597,891
1.411.477 —57.7
7,195,063
8,515,325 — 15.5
111,654
276,452 —59.6
203,431
Pasadena *_________
S.260,752
+ 21.8
2.600,000
33,962,160
9.443,476
600,000
500,000 + 20.0
B oise..............................
3,420,000
3,000,000 14.0
34,899,804
28,754.041 + 21 +
Medford.........................
1,182,205 Wot Included I n +total
2.082.344
Included In total
Total Paclfle............ 490,601,989 449.496.825 + 10.5 4,027.691,984 Not3,918,556,189
+ 18.1 105,003,955 103,148,643 + 1.8 78,240,911 80,172,086
Kansas C ity ................
244,890,607 + 2.0 2,172,848,924 1,948,550,632
55,839,085 60,423.186 — 1.0 37,561,910 38,752,418
Minneapolis.................. 248,008.832
134,953,092 137,661,103
— 2.0
942,616,729
795,670,315
24,464,545 29,020,860 — 15.7 24,194,281 27,294,393
Omaha............................
74,503.906
71.797,504 + 3.8
701.117,034
610,502,350
16.660.182 15.491.078 + 7.5 10.741,382 12,678.130
St. Paul.........................
52,508,778
+ 12.2
53.953,487
469,831,622
410,896,621
14,592.857 13,603.871 + 7.3
9,982,343 13,345,597
Denver...........................
45.940.888
45,353,380 + 1.3
407.591,071
380,201,126
9,494,398 + 3 .2
9,800.359
8,362,934
Duluth *_____
21.308.831
7,684.519
32.853,230
—34.9
154,484.420
103,365,032
5.263,452
7,383,711 —27.4
St. Joseph.....................
27,933,505
28.572,550
— 2.2
290.426,896
254,214,266
6,143,973
+
15.9
7.120,075
4", 111', 272
18.055,089
Des Moines___
3,765~792
16.525,282
+
9.3
174,222,189
152.917,834
3,412,075
4,076,314
+
19.5
2,530,159
13.431.888
Sioux City....................
3.063.837
12,944.854
3.7
127,556,380
114,116,220
2,541,345 + 9 .6
2,786.283
2,094.391
14,985,509
W ichita..............
2,032,902
12.198.308 ++22.7
130,634,748
103,758,338
2 , 858,572 + 16.0
3,316,910
7,244,988
1.382,551
L incoln.........................
1,446,743
6.697,405
+ 8.2
68,381.711
62,298,741
1,478,414 —0.7
1,467,790
7.349.510
1,051,175
D avenport..........
1.642,695
6.601,020 + 11.3
05,810,404
54,839,439
1,475.000
1,750,097
+
18.0
5,039,516
1,214,362
Topeka .........................
1,229,965
6,066,400
+
11.3
55,441,357
5 0 , 599.358
1,213,214
1,109,880
+
9.4
5.919,806
1,102,743
Cedar Rapids_______
931,185
5,084,733
+
18.2
54,532,48.3
44,698,907
1,179,487
1,315,039
+
11.5
3.941.777
729.233
Pargo ...........................
864,405
4,599,702
—
14.3
36,397,454
30,287,265
710.728
921,147
6,700,000
661,987
Sioux Falls..................
760,828
4,090,670 +39.4
41,346,284
28.034,937
860,000
1,209,987
+
40.7
2,882,587
700,000
Colorado Springs----2,732.075
525.000
+
5.5
31,030.755
29,543,911
614,544
645,000
+
5.0
2.607,534
564.678
P ueblo...........................
2.609,022
700.000
—2.3
25,172,933
23,740.350
662,190
515,968
+
28.5
413,780
1,407,287
F rem o n t.......................
654,259
1.808.976
—
18.8
15,490.798
15,217,124
315,306
411,583 —23.4
949,892 Not Included I n total
281,888
H asting s.......................
345,294
7,236.081 Not Included In
Not Included I n total
Aberdeen......................
Included In
Total other W est.. 673,120.492 663,247.918 + 1.5 6,810,449,769 Not6,114,093,746
+ 13.6 135,209,419 154.939.692 — 1.1 107.681,069 117,717,962
For details of Souther n see page 1223
Total Southern______ 953.008,715 913,689,870
8.011,703,411 7.177,207.358 + 11.6 213.847.388 205.093.783 + 4.9 159,276.906 162,949.334
Total all..................... 13,787,794,077 15.871,302,978
136,194.066,123 135,183,883,443
+ 0.7 3,158,710,761 575,566,554 -1 1 .7 2,584,658.163 2,820.130,822
Outside New Y o rk ... 5.883.705.023 5,818,961,432
64.758.676.004 60.665,460,680 + 8.3 1,297,869,490 302,230.216
1.026,806.984 1,165.771.048
I* ~ T' b4° a w l a “ k r T «4e« «* « 4 Canadian Clearing, on Page 1222. * Not Included In total for month and ten months; comparison Incomplete.



+9

—22.8

1306

THE CHRONICLE

[V O L . L X X X X I .

these ballot boxes might be sold at public auction and
be utilized for shirt-waist boxes and window scats.
THE FINANCIAL SITUATION.
A cheerful tone pervades financial circles. The This is obviously carrying political theories to the
' whole mercantile and financial community looks for­ point' where their farcical nature and absurdity must
ward with the utmost optimism to the elections on become apparent to everyone. South Dakota has
Tuesday of next week, which promise the first setback had a referendum provision in its Constitution since
that the tide of political radicalism has received in 1898, but those who pose as champions of popular
many years. ‘‘Those whom the gods would destroy, rights have recently been egging the voters on to
they first make mad,” and certainly ex-President apply it in a large way. This it was easy to do, as
Roosevelt in the current political campaign has been 5% of the qualified electors are empowered to invoke
acting as if he were bereft of reason. In his demagogic the referendum on any law passed by the Legislature.
appeals to the basest passions and the lowest instincts The laws now submitted to the voters for approval or
of the multitude, he has been placing himself on a rejection deal with matters of all kinds, from an Act
level with William J. Bryan, who in his early acts providing for county option on the liquor question,
revolted the common sense of the community. Mr. and another proposed act for the reorganization of the
Roosevelt has proved himself his own worst enemy and State National Guard, to a proposition requiring rail­
has been making innumerable votes for his opponents. road companies having lines in South Dakota to equip
In other directions also, however, the innumerable their locomotives with electric headlights of not less
expedients and experiments which the exponents of than 1,500 candle-power without the aid of a reflector,
radicalism are advocating seem likely, under actual and another proposed act to regulate the transporta­
trial to furnish a conclusive demonstration of their tion of dead bodies and to provide for examination
absurdity and of the fact that they contravene the and licensing of embalmers. Surely the voters must
dictates of common sense. We have heard a good quickly get tired of having new legislation of this
deal recently in this country of the initiative, the character passed on to them for consideration and
referendum and the recall. Here in the East the ultimate decision. What can be said in favor of
average voter scarcely knows what these things mean, such ludicrous performances as these? The referen­
though Mr. Hearst in his various newspapers has been dum is supposed to be for the benefit of the citizen, its
an unceasing advocate of the same. In the West, on purpose being to afford him a chance to indicate his
the other hand, where apparently every one is ready preference on new projects of legislation; but how
to embrace doctrines that promise to uproot the old many voters will trouble themselves to give careful
order of things, the initiative, the referendum and consideration to a long list of laws and study the
the recall, and various kindred emanations of radical­ bearing of each one on the needs of the community
ism, have been finding their way into State consti and the general welfare. The saving grace in the
whole performance is that after one or two experiments
tutions and State laws.
At next Tuesday’s election several of the Western of this kind the average man will demand a restoration
States are to have a practical demonstration of what of the old order of things. Thereupon political sta­
the referendum means. We wish to refer, however, bility will return. It is the prospect of such develop­
only to the case of South Dakota. The Omaha “Bee” ments that makes the business community look for­
in its issue of last Sunday had a dispatch from Sioux ward to next week’s election with so much cheerfulness.
Falls, S. D., which contained a mass of information
on the subject. This should prove in the highest degree The expectation also is that in the end the Inter­
enlightening and illumining. The dispatch filled an State Commerce Commission will grant permission to
entire column in the newspaper referred to. It the railroads to make moderate advances in rates.
carried a number of very striking headlines which gave Of course that is merely a matter of opinion, and we
a clew to its character, such as “Biggest Ballot in feel bound to say that the remarks which one member
World,” “South Dakota to Make A Record at and another of the Commission is letting fall at the
Its Coming Election,” “Special Boxes Made to Hold hearings which have been taking place on the proposed
It,” “One of the Fruits of the Referendum in Practice advances are not altogether encouraging as an indica­
Is Shown by the Gigantic Paper Ballot to Be Used.” tion that authority for an advance is actually to be
To the ordinary mind, the most conclusive
The dispatch points out that the voters of South granted.
argument
in
favor of slightly better rates is furnished
Dakota, at the election on November 8, arc to have
by
the
returns
of current earnings as they come to
submitted to them the longest ballot to be voted in
hand
from
week
to week. Ihcie has been a big batch
any State in the Union. This ballot we are told
of
these
returns
the present week, and with tince oi
will be over seven feet in length and will contain
four
exceptions
they
have all been of the same geneial
proposed laws which are submitted to the voters under
tenor,
indicating
enormous
increases in expenses as the
the referendum provision of the State Constitution.
result
of
the
advances
in
wages
granted railroad em­
This elephantine ballot, it is stated, will be about
ployees
during
the
current
calendar
year. The only
fourteen inches in width and will be filled from top to
exceptions
are
in
the
case
of
roads
where,
for some spe­
bottom with closely printed nonpareil type, one of the
cial
reason,
the
expenses
last
year
were
of unsuual
proposed laws alone filling more than two feet on the
magnitude.
The
Chicago
Burlington
&
Quincy
and
ballot. Owing to the gigantic size of the ballot
the
Illinois
Central
are
instances
of
the
latter
kind.
special ballot boxes have had to be manufactured for
all the important voting precincts in the State. The Burlington & Quincy restricted its maintenance
These, the dispatch adds, are about as large as small outlays the past September, probably because of the
trunks and will be useless for ordinary elections in uncertainty as to whether authority will be given to a< the future. The writer of the dispatch then gets vance rates, and accordingly is able to show a decrease
f acetious and says it is suggested that after election in expenses along with a substantial increase in gross



Nov. 5 1910.]

THE CHRONICLE

earnings, thereby producing a striking gain in net.
But this road stands almost alone in that respect.
The Union Pacific with $509,203 gain in gross for
the month has $882,773 increase in expenses and taxes,
leaving, therefore, $373,510 decrease in net. The
Southern Pacific has added $397,824 to gross earnings,
but this was attended by an augmentation of $551,229
in expenses and taxes; hence the net for the month falls
$153,405 behind. The Rock Island lines show $172,­
101 loss in net, owing to an augmentation of $448,585
in expenses, coincident with a gain of only $276,484
in gross. Among Southern roads, the Louisville &
Nashville reports $342,378 addition to gross, $642,172
increase in expenses and $299,794 falling off in net.
Among the Eastern trunk lines, the New York Central,
with $488,774 increase in gross, has $37,248 decrease
in net, because of an expansion of $526,022 in expenses.
This is for the Central proper. For the New York
Central System (including all the various controlled
and auxiliary roads) the result is that, notwithstand­
ing an improvement of $1,261,603 in gross receipts,
the net records a diminution for the month of no less
than $832,304, by reason of an augmentation in ex­
penses of over $2,000,000. The Pennsylvania Rail­
road statement for September is of the same general
character, as we show in a separate paragraph further
along in this article. These various returns derive
additional significance from the fact that they arc all
prepared in conformity with the rules and require­
ments of the Inter-State Commerce Commission, and
therefore their credibility is not open to question.
In considering the urgency of the need that our
railroad transportation lines shall be allowed adequate
compensation, in the way of sufficient rates, for the
transportation services they are performing, the fact
should not be lost sight of that it is not the welfare
of the mythical “bloated” stock and bond holder
that is at stake, but the interests of those immense
masses of the population which have moneys on de­
posit with the savings banks, or hold life insurance
policies, &c., &c. In our issue of Sept. 24 we showed
the magnitude of the railroad investments held by
these classes of institutions, all of which must suffer if
the railroads shall not be allowed to charge living
rates. The truth is, railroad securities are so widely
distributed among the various activities of the com­
munity that it is hardly possible to turn in any direc­
tion without meeting some work or undertaking that
derives some portion of its income from railroad
obligations of one kind or another. Here are some
facts furnished by a valued correspondent in Boston:
“ According to the 1910 report of the State Board of
Charity of Massachusetts, out of a total of 583 chari­
table corporations in the State 516 made substantially
complete reports, showing among other things a total
valuation of $56,370,865 08, of which $24,671,840 9$
represented property owned and occupied for corporate
purposes and $31,699,865 08 investments, on the in­
come of which of course a large part of their chari­
table work depends. This is only an incomplete
return, and from only one State of the Union.
“ The investments are probably all along the same
lines. One charity I know, with investments of about
$300,000, has about two-thirds in railroad bonds and
stock, mostly bonds; the other third being mostly in
telephone and high-grade industrial bonds. I have
no doubt this is a fair example of the line of investment
policy in this State. It would indicate $20,000,000



1207

of railroad bonds in one small pocket, the interest on
which all goes to the most needy classes in the com­
munity. Another point is the effect on philanthropic
individuals, the size of whose donations for charity
obviously depends on the size of their income. From
the same report it appears that subscriptions, dona­
tions and bequests in the year in question amounted
to $3,101,783 76. The whole number of beneficiaries
reported was 913,401, besides 4,486 families. Total
number of employees, 6,797, and their salaries and
wages, $2,194,441 25.
“ It is, of course, well known that the income available
for charitable relief is not enough to meet the demand
now, and the demand seems to grow faster than the
supply. We are only just beginning to feel the effect
of the strong anti-corporation legislation tendency of
recent years and there is far too little argument,such
as yours, to counteract the tendency.”
The formal ceremonies on Saturday last, when the
deeds of transfer of certain lands by Mrs. Harriman
to the Inter-State Palisades Park were delivered,
were a concluding step in a movement for conserva­
tion which began in 1900. In that year the quarry­
ing companies were busily engaged in blowing these
marvelous rock walls into broken stone for the most
common of uses, and had already destroyed the most
valuable single portion, the Indian Head promontory,
above Fort Lee. A commission that had been con­
stituted, to serve without pay, began a movement
which was met by only a languid public interest. The
quarry owners named some ten millions as their price,
but finally came down to less than $150,000. The
work of destruction ceased on Christmas Eve in that
year. This State appropriated $400,000 and New
Jersey (which alsd appointed a commission) appro­
priated $50,000, and in September of last year the
joint commission was able to report that a strip from
Fort Lee to Piermont, 14 miles in length, was finally
secured to the people.
Next came the offer by Mrs. Harriman of 10,000
acres in Orange and Rockland counties, to form a
supplementary continuation of the park, and accep­
tance of this gift, with its conditions, was recommended
in the annual message of Gov. Hughes to the last Legis­
lature. The deeds to this land, together with a check
for a million in money, were delivered on Saturday,
and 700 acres, which had been acquired for a new prison
to replace the present one, were re-transferred, inas­
much as that site would have permanently marred the
completeness of the park.
This countiy has thus far been so busy in utilitarian
work that the truth that beauty is its own excuse for
being, and has a potency for profitable return in the
truest sense of the word, has veiy slowly dawned upon
us. Evidence of a lack of both appreciation of beauty
and an understanding of it are on every hand here in
New York, where each property-owner has constructed,
according to his individual choice, and even in public
work there has been almost no harmony and coherence
in design. We are now beginning to see more clearly
and to study towards the architectural and artistic
results which Paris, for example, has certainly found
profitable, commercially as well as otherwise. The
gentlemen who have served upon this park commis­
sion have themselves given, along with their personal
services, nearly all the money which has been privately
raised; their own gratification is their chief reward
thus far, yet the public gratitude will follow ulti­
mately.

1208

T H E C H R O N IC L E

It is beginning already, as public use of the new
possession begins. In the summer of 1905 permits
were issued to 25 persons to camp on the Palisades;
in 1909 1,200 permits were issued, enabling some 5,000
persons (mostly persons of moderate means, who could
not get far from their work) to enjoy outdoors; this
past summer the campers numbered nearly 8,000, and
the enlarged space.for that use will allow 100,000. We
have now redeemed our generation from this particu­
lar reproach by posterity, and are reaping the advan­
tages of the work ourselves.
The Harriman gift is contingent upon raising 1j/2
millions privately, upon a grant of money by New Jer­
sey, upon extending , jurisdiction of the commission
north to Newburg and upon a grant of 23^ millions by
this State. These are the chief conditions, and the
State Constitution requires ratification by the people
of the appropriation, made by the last Legislature.
This formal act of ratification, therefore, comes be­
fore the electorate on Tuesday next. The Chamber of
Commerce has just earnestly indorsed the park and
also the project, appropriately complementary, for a
parkway on the eastern side from Bronx Park to the
Kensico reservoir, 18 miles. The Palisades Park as a
whole is the third largest park reserve in the State and
the largest in the world near a large city. It will com­
plete a noble work, whose value will grow with time,
and there should be no doubt of ratification of the
bond issue for it on Tuesday.
The principal financial centres of Europe passed
the month-end period without the slightest disturbance,
although on the Continent the Central Banks have
this week reported losses of cash and the expansion of
liabilities. At London the whole position has under­
gone a remarkable improvement; so much so, indeed,
that the discussion of a 6% Bank rate has given place
to' optimistic predictions of an early reduction from
the 5% declared on the 20th ult. While fully appre­
ciating the betterment in London, we cannot share
the view that all need for the continuance of caution
has passed. It is true that the ratio of reserve re­
ported on Thursday bisty 49
has been exceeded
only twice, (in 1908 arid vIO0l) in recent times, but it is
significant to note thafc'fcirice the beginning of Septem­
ber, the Bank of England's1bullion holdings have fallen
from nearly $200,000,000 to a little over $160,000,000.
It is also well to remember that during November and
December it is customary, to send a large amount of
currency from London to the Provinces, and that the
foreign demands for gold are also likely to continue,
at least on a moderate scale. On this occasion, too,
the very active state of’British trade and the conse­
quent demands for mercantile purposes should not be
overlooked. The Bank Governors ate unlikely to
think of lowering the'6% tninimum rate until all fears
of renewed stringency have been removed. Apparently
a <reduction will not i be feasible until after the New
Year; by making no change in the downward direction
during the final two months of the year the Governors
will merely be ifollowing precedent. This week,
intend of a loss of gold being disclosed, an increase
was, reported for the first time since the second week of
September, while loans and deposits were reduced
by more than 810,000,000 each, or by fully twice
the increase ($4,685,000) in bullion. Private discount
rates, have fallen below
which is not.



IV O L .

LXXXXI

abnormal for. the beginning of November. The Bank
of France again reported a decrease (nearly $3,500,000)
in gold on hand and an increase of $28,000,000 in
bills discounted, although there were decreases' of
$48,000,000 in note circulation and of $21,400,000 in
deposits. Paris, as our London correspondent points
out in his cable dispatch, sent a little more gold to
London this week, and as discounts in France remain
below 3%, additional assistance will no doubt be
extended if the necessity continue. The Imperial
Bank of Germany sustained a loss of nearly $20,000,000
in cash (gold and silver) and increased its loans and
discounts and note circulation by fully $55y000,000.
Yet discounts in Berlin (at 4%%) arc only the slightest
fraction above last week’s level, and there is every
reason to expect a better Bank statement next week.
At other Continental points no unusual stringency
has arisen. The Banks of Bombay and Bengal raised
their minimum rates by 1%—the former to 5% and the
latter to 6%—and it is probable that a considerable
amount of gold will be shipped thither this month.
This, however, is strictly normal and need not occasion
any uneasiness. In New York both call and time
money rates have become firmer, the former having
touched 4%% and the latter 5% for most periods,
as is recorded in greater detail in a subsequent para­
graph .
Aristide Briand, the Prime Minister or France, on
Wednesday tendered his own resignation and that of
his Cabinet in consequence of dissensions that mose
among the Ministers over the means adopted to put
down the recent railway strike and also over proposed
legislation to guard against a similar occurrence.
President Falliercs at once asked M. Briand to form
a new Ministry and the latter accepted the commission,
which he fulfilled on Thursday. In the Chamber of
Deputies the Socialistic members on Saturday bitterly
attacked the Premier and succeeded in ruffling his
customary calm to such an extent that he vehemently
declared that the government was not only justified,'in
resorting to every legal method of crushing the plotted
rebellion, but that if necessary to thwart illegal dis­
turbances he would have gone beyond the measures
provided by statute. This created a storm of indigna­
tion. Members shouted “Down with the tyrant,;*
“Cffisar,” and similar offensive expressions, and so
threatening did the tumult become that the Premier
had to be protected from injury. On the following
day he explained that he had not been allowed to
finish his statement and that consequently lie. was
grossly misunderstood. The Chamber, by a vote of
329 to 183, expressed its confidence in him. But it
became known that one or two members of the Cabinet
did not endorse the Premier’s stem policy. Therefore,
by tendering the resignation of the whole Cabinet
and receiving an invitation to form a m w body ,
M. Briand placed himself in a position to select col­
leagues in sympathy with his own views, The
personnel of the new (Cabinet shows many changes, it is
as follows:
Premier and Minister of the Interior, Aristide Briand.
Minister of Justice, Theodore Girard.
Minister of Foreign Affairs, Stephen Pichon
Minister of War, Gen. Brun.
Minister of Marine, Boue de Lapcyrere.
Minister of Public Instruction, Maurice Faurc. v
Minister of Finance, M. Klotz.
...................

Nov. 5 1910.

THE CHRONICLE

Minister of Commerce, Jean Dupuy.
Minister of Agriculture, Maurice Raynaud.
Minister of the Colonies, M. Morel.
Minister of Labor, Louis Lafferre.
Minister of Public Works, M. Puech.
Under Secretaries have been appointed as follows: Marine,
M. Guisthau; Finance, Andre Lefevre; War, M. Noulens; Fine
Arts, M. Dujardin-Beaumetz.

Although a Socialist before being selected to succeed
M. Clemenceau at the head of the Government,
M. Briand quickly changed his ideas regarding the
right of the individual and the right of the Government.
He thereby attained great popularity among other
principal parties but lost favor among his former
associates. His masterly handling of what was
undoubtedly meant to be a rebellion cn the part of
labor against the Government has still further en­
hanced his reputation as a statesman. Indeed, those
familiar with the inner workings of French affairs
declare that last month’s episode involved issues of
transcendent importance, and that if the Prime
Minister had adopted a vacillating policy, the General
Confederation of Labor would have become absolutely
unruly. Various phases of the present struggle
between labor and the Government in France are
discussed in a special article in this issue, which deals
also with the disturbing strike of express company
and other wagon drivers in New York.

1309

the Duke of Connaught this week landed at Cape Town
and yesterday opened the first Parliament of the Union
of South Africa. It can be safely said, however, that
Viscount Morley contributed invaluable service in
piloting the Indian Empire thiough a critical stage of
its history, and that he leaves India in a better state
politically and economically than ho found it. The
following appointments, approved by King George
were announced simultaneously with the retirement
of Viscount Morley:

Viscount Morley to be Lord President of the Council, vice
Earl Beauchamp.
The Earl of Crewe, Secretary of State for India.
Lewis Harcourt, Secretary of State for the Colonies, vice
the Earl of Crewe.
Earl Beauchamp, First Commissioner of Works, vice
Lewis Harcourt.

T he lull in activity in the commercial and industrial
affairs of the United States, to which we referred a
month ago in reviewing the bank clearings for Septcmbei, finds further and somewhat stronger reflection in
the figures for October, presented on the first page of
this issue. As regards New York and other leading
centres of stock speculation, it is to be remarked that
October witnessed much greater activity in share
transactions than in tin: preceding month; but at the
same time the volume of dealings was much less than
for the corresponding period of recent previous years,
Viscount Morley, Secretary of State for India, re­ and this accounts for a considerable measure of the
signed on Thursday after having filled the office with decrease exhibited at those points. The fact is, how­
conspicuous ability ever since he entered the Cabinet ever, that of the 137 cities included in our clearings
of Sir Henry Campbell-Bannerman. The resignation statement, 52 fail to report increases over last year;
is not due to any divergence of opinion between the for the ten months, on the other hand, losses are to be
veteran statesman and his colleagues, but solely to found at only 10 points. Mainly, of course, as a re­
advancing age. The withdrawal of John Morley from sult
of the deerea.se at New York, the decline in the
a prominent place in British publi'; life marks the re­ aggregate for the whole country in October, as con­
moval of another link of the chain that connects the trasted with 1909, is 13.1%, ‘reducing to a merely
Victorian reign with the present day. Of the stalwarts nominal
percentage (0.7%) the gain for the ten months
who loyally supported Mr. Gladstone during his mem- of the calendar
year 1910. Compared with two'years
orabie fights in the House of Commons, few remain in ago, there are excesses of 12.2% and 28.9%, respec­
public life, a new school of politicians, of which Lloyd- tively, but the current year's monthly total shows
George and Winston Churchill are prominent examples, a loss of 1.7% from 1907 and the increase for the ten
having come to the fort;. Viscount Morley entered months is only 7%. Outside of New York the October
upon what, was virtually the colossal task of govern­ total exhibits a gain of only 1.1% and that for the ten
ing India with deeply-rooted convictions as to the
an augmentation of 8.3% compared with a
liberty which the governed should enjov at the hands months
vear
ago,
contrasted with 1908 increases of
of the government, but, as so manv legislators have :19.7% and while
26.8%,
are shown; Although
discovered on taking up responsible duties, it was not ;the general exhibit respectively,
is not as. satisfactory as (luring
possible always to put altruistic theories into, practice*... •most earlier months of 1910, at a number of cities the
It was the irony of fate that John Morley should he clearings were much greater than for the similar period
called upon to repress disorder through force, of arms of
1909 or former years. This is especially true- of a
and that he should be compelled to curtail the liberty majority
of the municipalities on the Pacific Gogst, and
of the native press. He found himself confronted with of Hartford,
Minneapolis, Wichita, Atlanta,
conditions which demanded not theoretical but prac­ Jacksonville, Detroit,
Fla.,
Oklahoma,
Austin, Wilmington,
tical handling. Some of the duties that, fell to his lot N( C,, and Jackson, Miss. At New
York the lessened
must have cost him many a pang. Yet he succeeded activity in stock transactions accounts
great part
in introducing reforms of far-reaching importance even for the decline of 21.4% from 1909 forinthe
month,
at a time when the spirit- of rebellion was. widespread. and is wholly responsible for the 1^-: of 3.8%. in the ten
It was through the efforts of the Secretary of India that months’ aggregate.
enlightened natives were given a share in tilt* govern­ At. the New York Stock Exchange dealings in shares
ment of the Empire. He laid the foundations of a in October were less than in the month of any year
governmental system that may be destined to solve since
The total at. 13,152,381 shares of a par
the vexed Indian problem, although it were premature value 1903.
of
SI,228,154,700
compares with 21,739,514
to indulge hopes that the people of India will in the share.-, with a par of $2,041,072,200
1909 and 14,­
near future fit themselves for that large measure of 266,901 shares and 81,302,230,375 inin1908.
For the
self-government which Great Britain has conferred ten months sales this year reached only 143,614,352
upon her various colonies, including South Africa— shares, against 178,302,309 shares a yrear ago and



1210

THE CHRONICLE

149,237,666 shares in 1908, and contrasted with the
three preceding- years losses are also shown. Bond
dealings, too, continue very notucably smaller than
for either 1909 or 1908, the ten months’ aggregate
of 1910 at 541% millions of dollars bmng less than half
of the total for the same period last year and 229
millions smaller than for 1908.
The Canadian hearings exhibit for the month and
ten months is quite favorable. For the thirteen cities
included in our table for which, comparative figuresare available, tin' October aggregate exhibit" an in­
crease over the same month of 1909 of 6.2% and tor
the longer period the gain reaches 19.7%. Compared
with 1908, moreover, increases of 33.9% and 48.7%,
respectively, are recorded.

[VOL. L X X X XI.

York alone showing an increase over 1909 of some
21 millions of dollars. In the South and on the Pacific
Coast, on the contrary, the increases are small, and
in New England this year’s liabilities are actually
much less than for the ten months last year.
Canadian failures returns for the month and the ten
months are in no essential particular difieient ficm
those for the United States. They indicate that the
greatest staess has been upon the manufacturers.

The tide of immigration into the United States
continues quite free, according to the official data,
the movement of aliens in this direction during Sep­
tember 1910 having been well in excess of that for
the corresponding period of 1909 and much heavier
than in 1908. On the other hand, the outward trend
Commercial failures in the I' nited States in Octobei of aliens, representing, ef course, in large part those
1910, while less in number than for the corresponding- making visits to the fatherland, proceeds along praeperiod of either of the three preceding years, cover an cally moderate or normal lines. Consequently in
aggregate of liabilities much greater than in the month September, as in preceding months of the current year,
of last year, and, moreover, in excess of any recent the influx appreciably exceeded the efflux, giving a
year except 1907. In all the various divisions the further impoitant gain in our foreign-born population.
indebtedness reported is comparatively hoav} , but the Italians formed the largest contingent of those coming
feature of the statement is the total of liabilities in in, but the arrivals of Hebrews, Poles, Scandinavians,
trading branches, which is the largest for many years, Germans, English and Irish were comparatively large.
if not actually an October record. In many lines, it is The total inflow of immigrant aliens for September
true, liabilities are less than a year ago, but conspicuous this year was 83,931, which contrasts with (7,619 a
increases in hotels and restaurants and unclassified year ago, 38,238 in 1908 and the September record
traders much more than offset the declines. Among of 98,694 in 1907. For the nine months of 1910 the
manufacturers, also, heavy indebtedness in such im­ immigrant arrivals at 854,246 exhibit a large increase
portant lines as lumber, carpenters, &c., and clothing over 1909, are threefold the movement of 1908 but
and millinery, as well as in miscellaneous industries, record an important falling off from 1907. Including
contribute to make the aggregate in that branch some­ with the immigrant aliens the non-immigrant , or re­
turning, aliens, we have for the period since Jan. 1 of
what heavier than in 1909.
R. G. Dun & Co.’s statement furnishes the basis 1910 a total of 968,201, which contrasts with 873,094
for the above remarks. It makes the total number of for the nine months of last year, only 384,791 in 1908
failures for October 1,122, with liabilities of $18,9/7,- and 1,166,150 m 1907.
696, which compares with 1,164 insolvencies for only The outward flow of aliens, as intimated above,
$12,529,862 in 1909 and 1,187 for $17,298,186 in the shows no particular divergence from what might be
like period of two years ago. Manufacturing disasters termed a normal movement. Those who depart,
account for $7,135,602 of the aggregate for October, moreover, do so in most cases with the intention of re­
this year, against slightly less than 53% millions in turning, prepaying the passage back. Altogether the
1909 and $7,142,381 in 1908. In 1907—the panic steerage efflux in September was auout 30,000, com­
year—the total reached, however, 12% millions of paring with 29,950 in the month a year ago and 43,884
dollars. Indebtedness of traders, at $8,043,499, com in 1908, and foi the nine months aggregated 288,623,
pares with 6% millions last year, 6 1-5 millions in against 229,830 in 1909 and 479.291 and 304,249, re­
1908 and 1907. Among brokers, transporters, &c., spectively, for the like intervals of 1908 and 1907.
there is a very large increase in liabilities over last yeai, Deducting these departures from the total arrivals, we
or 1908, but a decided improvement (and naturally so) find that there was a net increase in the foreign-born
over 1907. This year’s total of $3,798,595—mainly population of 679,578 in the nine months ended with
accounted for by five failures for about 3 millions of Sept. 30 1910, that result comparing with a gain of
dollars—compares with only $485,418 a year ago; 643,264 in the same period of the preceding year. In
1908, however, there was a decrease of 94,497, react­
$2,566,125 in 1908 and $8,438,133 in 1907.
For the ten months of 1910 the total number of ing the effect- of the depression that succeeded the panic
failures was 10,521, comparing with 10,830 in 1909 of the fall of 1907. Judged by unofficial figures for the
and 13,133 in 190S, and representing liabilities of port of New York, which we have compiled, the move­
$173,395,000 and $128,665,733 and $195,576,191, re­ ment of immigrants during October was rather below
spectively. Manufacturing branches covoi a moic that for the previous month and hardly as large as in
than usually large proportion (over 44%) of the grand the period of 1909. The outflow of aliens continued
aggregate, the liabilities reported having been $77,­ moderate, and therefore the official compilation for
224,879, against $62,893,201 in trading classes and the month when issued should show a further large
$33,276,920 among brokers, &c. These figures con­ gain in population—not as great as in 1909 (61,534),
trast with$54,788,634 and$56,448,893 and $ 1/,428,206, but far aheftd of the result (18,799) in 1908.
respectively, in 1909, and appreciably larger totals in
each instance in 1908. As regards the localities in The Pennsylvania Railroad is not exempt from the
which failures have been greatest this year in respect of prevailing tendency of railroad expenses to rise in a
indebtedness, the Middle States take the lead, New marked degree. The September statement of the




Nov. 5 1910.]

THE CHRONICLE

company has been made public the present week, and
it shows diminished net on both the Eastern lines and
the Western lines, solely by reason of the rise in ex­
penses, the gross receipts recording moderate gains.
On the lines directly operated East of Pittsburgh and
Erie, a gain of $422,500 in gross revenue has been at­
tended by an increase of $537,500 in expenses, causing
a loss in net of $115,000; while on the lines directly
operated West of Pittsburgh there has been an addi­
tion of no less than $744,300 to expenses, with a gain
of but $476,000 in gross earnings, leaving, hence, a de­
crease of $268,300 in net. For the combined lines,
therefore, we have $383,300 decrease in net, caused by
an addition to expenses of $1,281,800 coincident with
a gain in gross of only $898,500. Last year in Sep­
tember the showing was quite favorable, the result for
the combined lines having been an improvement of
$3,581,800 in gross and of $1,809,400 in net. In
1908, however, the combined lines reported for Sep­
tember $3,696,000 loss in gross and $710,500 loss in
net. In the following we furnish a six-year comparison
of the earnings of the lines directly operated East of
Pittsburgh, being the only portion of the system for
which we have the data for such a comparison:

m i

£21,000 French coin); exports, £39,000 (of which
£20,000 to Egypt, £12,000 to South America and
£7,000 to various destinations), and shipments of
£362,000 net to the interior of Great Britain.

Foreign discount rates have not shown unusual
firmness as a result of the November settlements.
In London the downward tendency that was in progress
a week ago became more pronounced, the 5% Bank
rate having proved effective in building up the metallic
reserve and in inducing borrowers to pay off loans.
The charge for discounting sixty-day bills fell to
4/4%> while ninety-day bills were quoted at 43^%;
these figures applied both to spot bills and bills to
arrive. But yesterday there was a recovery to 4]^%
for sixty-day bills and 4 7-16% for ninety days.
It is not expected that discounts will go much lower,
inasmuch as the tendency would be to ad­
versely affect the international exchanges and
consequently the movements of gold. At Paris
money remains very plentiful, notwithstanding that
the Bank of Franpe is still losing gold and that Paris is
extending assistance to New York bankers on a
moderate scale. Berlin was influenced to a slight
extent by the customary weakening of the ReichsLines East of
Pittsburgh.
1905.
1910.
1909.
1908.
1907.
1906.
bank’s status at the opening of the month, but the
$
September.
$
$
S
S
S
Gross earns. 14,207,058 13,844,558 12,089,258 14,450,858 13,059,859 12,334,159 private rate there has not gone above 4^g%, an
Oper. exp__ 9,810,582 9,273,082 8,459,782 10,132,282 8,274,282 7,555,782 advance of
of 1% over last week. At Amsterdam
Not earns. 4,456,477 4,571,477 3,629,477 4,318,577 4,785,577 4,778,377 there has been no appreciable change, the quotation
Jan. 1 to Sep t. 30
122,447,572 110,448,172 99,039,272 123,714.772 108,406,072 97,007,772 there remaining at 4%%. Brussels also sends the
Oper. expen. 89,345,571 78,741,771 71,440,671 89,806,471 75,106,671|68,747,171
same iate. At Vienna money continues dearer, bills
Net earns. 33,102,001 31,706,401 27,592,601 33,908,301 33,299,401|28,260,601
not being negotiated there under 4 ^ % . No European
bank rates were changed during the week, but on
The Bank of England has at last succeeded in Thursday the Bank of Bengal advanced its minimum
checking the drain upon its supply of specie. It from 5% to 6% and the Bank of Bombay raised its
secured £550,000 of the South African gold offered in rate from 4% to 5%, both seasonable changes.
the open market on Monday (India taking the balance
of £200,000) , the minimum price of 77s. 9d. per ounce No acute stringency has accompanied the Novem­
being paid. As our special London correspondent ber payments in New York, nor are there positive in
records, the Bank also received shipments of the dications of impending pressure, notwithstanding that
precious metal from France and Brazil. The oiuflow bank loans have materially exceeded deposits, that
was unimportant, with the net result that the weekly extensive New York City and other obligations are ma­
statement showed a gain of £937,125 in bullion. turing abroad and that currency is still being with­
This was the most encouraging feature of the return, drawn by the interior. In certain quarters much is
but it would not have brought about a marked change made of the fact that the aggregate loans of the Clear­
in the percentage of reserve had not loans and de­ ing House banks last Saturday reached $1,226,631,­
posits decreased materially. The curtailment in 000, against deposits of $1,192,517,100, a difference
loans (brought about by the difference between the of $34,113,900. But in drawing comparisons with the
Bank’s rate and the open market figures) reached past it may be well to remember that the capital and
£2,171,030, while ordinary deposits fell £2,131,087 surplus of New York’s banks are greater to-day than
and public deposits £604,110. There was an increase in former years, and that consequently the percentage
of £857,055 in circulation, a natural development at of the total resources lent out is not so large as might be
the beginning of November. The ratio of reserve to imagined. Prominent downtown bankers do not re­
liabilities rose from 46.11% last week to 49.11% this gard the present state of the banks as over-extended.
week—a very satisfactory showing. But our cable As a matter of fact, the excess of loans over deposits
states that the total amount of bullion on hand is no has been brought about by two or three of the largest
more than £32,255,460, which is only nominally institutions, which could no doubt strengthen them­
better than was carried at this time last year and far selves at a day’s notice. It is claimed, and no doubt
below the figure, of 1908. Our correspondent further with truth, that the city banks have exercised extreme
advises us that purchases in the open market were care in granting facilities, that their collateral is firstfairly large and there were important imports from class, that mercantile acceptances have been made,
Braz.il; on the other hand shipments to the interior of with the utmost caution, that there is no occasion for
Great Britain were moderate. The details of the becoming uneasy, and that interest rates are unlikely
movement, into and out of the Bank were as follows: to reach abnormal levels.
Imports, £1,33S,000 (of which £700,000 from Brazil, Supplies of time money, however, have diminished
£125,000 from Paris, £6.000 from Australia and this week, discount rates for choice names have ad­
£507,000 bought in the open market, including vanced, and even call funds are temporarily less plen­



1812

THE CHRONICLE

tiful. The advent of November naturally changed the
position of short maturities, 60-day loans now carrying
into January, while more business is done in 30-day
facilities. The range of quotations was raised during
the latter part of the week to the following basis:
December maturities, 4%%; 60-days, 90 days and
four months, 5@5%%; five and six months, 4% @5%.
Brokers as a rule are desirous of borrowing for 60 or
90 days, but bankers prefer the longer periods. The
volume of business done from day to day is not ex­
tensive. Call loans began the week uneventfully,
only 4% being reached on Monday, with renewals
granted at 3%%. On the first day of November 4%%
was recorded, the highest figure since early in May,
and the same rate was touched on Wednseday and also
on Thursday; no loans were made on Thursday below
4%, which also was the ruling rate. Yesterday the
range was 3%% to 4%%, with the last loan made at
4%. The average rate for the week has been 3%%.
Commercial paper is situated as described last week.
Offerings of bills not of exceptionally good quality are
so plentiful at generous rates that the general market
is affected. Some bankers have bought safe bills in
preference to lending additional amounts on Stock Ex­
change collateral, but withal the absorption of paper
is light. Occasionally transactions are made at 5%%,
but the usual range is 5%@6% for prime four to six
months single-name bills and f)%@6%% for less at­
tractive names. Sixty to 90 days' endorsed bills re­
ceivable are quoted at 5%@,6%.
Demand sterling, which last week closed at 4 80%,
ruled during the greater part of this week at 4 85%
and then declined to 4 85% yesterday afternoon.
The weakness may be put down to one domi­
nating fact, the change in the state of the London
and the New York money markets. Towards the
close of October the Bank of England was losing gold
at ait uncomfortable rate, private discounts climbed
to near the 5% official minimum, assistance was
sought at Paris, fears were entertained that a 6%
Bank rate would become necessary, and consequently
sterling exchange advanced sharply, especially as
call and time money rates here were >n a re'atively
low basis. Since then, however, the dram upon
London’s gold has been checked, discounts there have
fallen appreciably, the Bank’s ratio of reserve has
risen to within a fraction of 50%. while in New York
rail money has advanced to a maximum of 4%% and
time loans have also been marked up. On the other
hand, several influences have militated against a fall in
xchange to the gold-import point. The regular
November 1 remittance had to be provided: there
vi ere heavy maturities of short-term obligations and,
contrary to the general understanding, comparatively
lew long sterling bills have latterly been issued.
Fluctuations during the next two months arc looked
upon as very uncertain. .Tn times gone by there was
always an extensive short interest to be covered during
the crop-marketing season, as operators could con­
fidently count upon the receipt of a mass of cotton
and grain bills; but this year the short celling has been
quite light. Then, great importance is attached to the
Congressional »lections, and the results may have a
potent effect upon the European attitude towards our
sccur ties. V beginning has been made in inducing
foreigners to accept American short term notes and
this nvivemenii may go far or it may stop at any



IVOL. L X X X X I .

moment. Tariff uncertainties may interfere with the
normal importing of certain classes of merchandise.
In short, the outlook can be viewed from many angles,
and prudent operators are refraining from entering
upon large risks. Current offerings of grain and cotton
bills are increasing moderately, yet the view is by no
means general that rates must go down.
Compared with Friday of last week, sterling exchange
on Saturday was easier, with sixty days quoted at
4 8230 @4 8240, demand at 4 8610 @4 8615 and cub e
transfers at 4 8660 @4 8665. Demand and cable
transfers were easier on Monday at 4 86@,4 8610 and
4 8655@4 8665, respectively, while sixty days was
quoted at 4 8235@1 8240. On Tuesday demand
declined to 4 8585@4 8590, cable transfers to 4 8650@
1 8655 and sixty days to 4 8230@4 8235. On Wednes­
day the undertone was weak, but quotations were
not appreciably changed. On Thursday cable trans­
fers declined to 4 8640@4 8650, demand closed un­
changed at 4 8585@4 8595 and sixty days was quoted
at 4 8210@4 8215. On Friday the market turned
very weak in the afternoon and closed on the basis of
4 85% for demand and 4 86% for cable transfers.
The following shows the daily posted rates for
sterling exchange by some of the leading drawers.
F rt., Mon., Tries., Wed., Thurs., F ri.,
Oct. 2.8. Oct. 31. Nov. 1. Nov. 2. Nov.
3. Nov 4
Drown
/ 60 days 4 83
83
83
83
83
83
Bros. & Co____ — (S ight.. 4 87
87
87
87
87
87
Kidder,
/60 days 4 83 }* 83}* 83 }* 83
83
83
Peabody & C o.. — \9lght._ 4 87 )* 87
87
87
87
87
Bank of British
/ 60 days 4 84
83 J* 83 }* 83}* 83
83
North America . — \SlKht. _ 4 87
87
87
87
87
87
Bank of
160 days 4 84
83 IS 83 H 83 5* 82}* 82)*
M ontreal.............. __ \Slght_. 4 87
87
87
80}* 86}*
87
Canadian Bank
;60 days 4 83)* 83 H 83 )* 83}* 82}* 82 J*
of Commerce__ — \Slghe.. 4 87}* 87
87
87
80}* 86}*
Heldelbach, Ickcl- 160 days 4 83)* 83
83
83
83
83
heimer * Co___ __ ISIght.. 4 87 H 87
87
8T
87
87
Lazard
i 60 days 4 83 )* 83
83
83
82}*
82}*
Fre res ________ — IS lg h t.. 4 87
86J* 86 Vi 80}* 80}* 86}*
M erchants’ Bank
jOO days 4 83 )*
83
83
83
83
83
of C anada_____ . . . IS lght.. 4 87 V, 87
87
8T
87
87

The market closed on Friday at 4 8190®4 82 for
60 days, 4 8575@4 8585 for demand and 4 8630@
4 8640 for cables. Commercial on banks was quoted
at 4 81%@4 81% and documents for payment 4 813%
@4 81%. Cotton for payment ranged from 4 80%(tr
4 81%, grain for payment from 4 81% @4 81%.
The following gives the week’s movement of money
to and from the interior by the New York banks.
Net Interior
Received by Shipped by
Week ending Nov. 4 1910.
N . Y. Banks. N . Y. Banks. Movement.
C urrency.........................
35,861,000 86.685,000 Loss $824,000
Gold ...............................
1,647.000
1,794,000 Loss
147,000
Total gold and legal tenders_____
87,508,000 $8,479,000 Loss 8971,000

With the Sub-Trcasuiy operations the result is as
follows.
Into
Ovt o f
Week ending Nov. 4 1910.
Banks.
Banks.
Banks’ Interior movement, as above
87.508.000 88.479.000
Sub-Treasury operations.........
34.500.000 36.700.000
Total gold and legal tenders............ 342,008,000 845,179,000

Net Change in
Bank Holdings.
Loss 8971,000
Loss 2,200,000
Loss ' $3,171,000

The following table indicates the amount of bullion
in the principal European banks.
Nov. 3 1910.
Nov. 4 1909.
Gold.
Silver.
Total.
Gold.
Silver.
Total.
£
£
£
£
£
£
E ngland-. 32,255.460
32,255,460 32,198,727
32,198.727
France__ 132,124,440 33.505,160 165,689,600 144,031,280 35,028*680 179,059,860
Germany.. 34,349.350 12,264,150 46,013,500 34,827,550 11,442.700 46,270,250
R u ssia__ 146,587,000 0.302,000 152,889.000 139,255,000 0.922,000 146,177,000
Aus.-IIun. 55.298.000t 11.892.000 67.190.000
11.863.000 09.157.000
S p ain___ 16.362.000 30.631.000 46.993.000 57.294.000
16.070.000 31.028.000 47.104.000
Italy ___ 38.815.000 3,415,000 42.230.000 38.307.000
4,100,000 42.407.000
Neth’lnnds 10.231.000 1,666,300 11,897,300 10.523.000 2,777,200
13,300.200
Nct.Belg.. .335,333 2,667,607 8.003.000 4,110,607 2,055,333 6,100,000
Sweden ..
.443.000
4.380.000
4.443.000 4.380.000
Swltzerl’d. :,255,000
4.952.000
0,255,000 4.952.000
N orw ay. . 2,021,000
1.895.000
2.021.000 1.895.000
Total week 484,076,583 102,403,277 586,479,800 487,850,224 106,810.8131693,067,037
Prev .week 485.860,018 103,117,747 688,978,365 491,265,601 106.590.380.697,855,041
1
1
Banks of

Nov. 5 1910.]

THE CHRONICLE

STRIKES AND TIIE PUBLIC INTEREST.

The strike of the express wagon drivers in this city
during the past week, which has not only reached the
point of seriously obstructing business, but has con­
stantly approached the line where outright rioting
was imminent, b'ds fair at this moment of writing to
be settled by the Mayor, backed, as he is certain to be,
by overwhelming popular approval in demanding
that such a situation cease. Of the origin and general
character of this strike it is not necessary to say much,
except that it has followed along the lines of the more
reckless and inexcusable labor demonstrations. The
quarrel was one of the Jersey City teamsters with their
employers; the New York drivers declared industrial
war on their own employers—not, as we understand it,
because they had any quarrel with them, but simply
;n order to make a so-called “sympathetic demonstra­
tion” in favor of their fellow-laborers across the
river.
During a part of this present week the situation got
to a point where wagons delivering such commodities
as precious metals, whose transportation could not be
delayed, had to be guarded by cordons of police in
order to prevent actual attack by the strikers and
their sympathizers. Not satisfied with this interrup­
tion ol traffic, nor with their own more or less suc­
cessful checkmating, through threats of violence, of
every effort made by people who usually employ ex­
press wagons to get their business done through other
intermediaries, the labor leaders at the beginning of
this week publicly threatened a general strike in city
transportation. They began to call out drivers of
taxicabs; to forbid the wagons of department ^toieL
which the express companies do not own, to be used
by their private owners. The whole situation pointed
towards that reckless flouting of the common decencies
of orderly business life which have in the past been the
most offensive attribute of the larger labor demon­
strations.
It was high time that the city authorities should
intervene, foi the stage had been reached where the
situation of itself demanded that representatives of
the general public should protect the interests of that
public. This is not the general public's quarrel; yet
they are the principal sufferers, and, in New York at
any rate, they are suffering, not because the New York
unions are standing in defence of some vital principle
of labor, but because those unions wish to make trouble
enough to force employers in another State to yield
to laborers' demands. We are strongly of the opinion
that no government in full recognition of its duties
and opportunities could refuse to take a hand under
ciicumstances of the sort.
The threat of a general strike, such as has been
made this week, ^amounts, we are well aware, to con­
fession of weakness and of approaching failure. It
always has that meaning in labor demonstrations, and
this is so Localise such a threat calls forth inevitably the
people's domand for intei vention through the arm of
government. Nowhere has this principle been more
surlily demonstrated than in the recent French rail­
way strike. , Briand, the Prime Minister, took office
a.-: a member of the Socialist Party, and he seems,
therefore, to have been generally reckoned on by the
striker^' as k sympathizer. What he showed, however,
when the rcai emergency came of a wholly inexcusable



1313

tying-up of the country's transportation industry, was
instant recognition of the fact that, no matter what
general theory of government public officers may
maintain, they are charged as public men with distinct
responsibilities, foremost among which is the assertion
of the true public interests and the protection of the
public safety.
The case of Premier Briand has in itself been more
impressive even than the similar incident of Clemenceau
a few years ago in the case of the great coal strike in
the Northwest of France. Clemenceau also was a
radical; but he, too, when the strikers began to riot,
unhesitatingly sent the troops to put down the demon­
stration. In the case of the recent French railway
strike a fair and proper offer of arbitration had been
made to the strikers by the Government; but the strike
on the Northern Railway was ordered nevertheless and
without notice to the Government. Briand warned
the labor leaders, personally and publicly, that the
movement under such circumstances was not a strike,
but a crime, and when their obstruction to trans­
portation had progressed so far that even the food
for the cities was blockaded, he took the extreme
measure of calling out as army reserves, for the legal
period of service, the 30,000 men who had been em­
ployed on the Northern Railway, and, having called
them out, he promptly ordered them to their work
upon the railways. When signs were shown of resist­
ance to this order, he flatly told the malcontents that
resistance was not a labor demonstration but an at­
tempt at revolution, and that they would do well to
obey the Government.
In this there was an interesting reminder of Mr.
Cleveland’s intervention, through assertion of the
right of the Government to have its mail cam carried,
in the Chicago Railway Union strike of 1894. Pre­
cisely as President Cleveland’s vigorous action, from
which even some of his Cabinet had shrunk, was greeted
by instant applause from the country as a whole, so in
the recent case of M. Briand public approval made it­
self felt so promptly and overwhelmingly that when
the Chamber of Deputies had to vote on the resolution
whether or not to approve the action of the Cabinet,
party lines were all but obliterated and approval was
voted by 329 to 183.
Last Wednesday came the news from Paris that the
Briand Cabinet had resigned, and for a moment this
was thought to mean reaction in public sentiment.
But it very soon turned out to be the fact that Briand
himself had presented his resignation, not with a view
to yielding to the forces of disorder but for the plainly
avowed purpose of removing from his Cabinet one or
two Ministers who, by their open sympathy with the
union demonstrations, had obstructed the govern­
ment’s policy and embarrassed its efforts in the public
welfare. Briand himself returns to office with a re­
constructed Cabinet—the most positive and emphatic
sign of approval which could be granted to the people’s
representatives.
The signs of the times are, in our judgment,
no different in New York from what they
have been in Paris. They teach a very old
lesson, but a lesson which cannot in these days,
be taught too often—that in all such industrial
controversies the public welfare-,, is the supreme
consideration for the Government, and that disorder,,
anarchy or blockading of the means of livelihood for

1214

THE CHRONICLE

[VOL. L X X X X I.

innocent parties cannot be tolerated for a moment by may not be amiss to record here that an Imperial edict
any responsible public administration cognizant of was issued on Thursday commanding all representatives
of China abroad to cut off their queues; the cables add
its duties.
that “the edict is believed to be a forerunner of an­
other order commanding all Chinese to follow suit.”
THE NEW CHINESE LOAN.
The industrial development of China is dependent
The American bankers who, supported by the Gov­ very largely upon the importation of foreign capital
ernment, succeeded in securing the underwriting of a and the advent of agents capable of planning and
$50,000,000 loan for China, have received fewer demon­ executing important enterprises. As a preliminary
strations of gratitude from our own business interests to attracting outside funds and placing the finances
than expressions of envy from foreign Powers. The of the country upon a sounder basis, an earnest effo>’t
possibilities underlying this coup de finance are either is to be made to introduce a staple decimal currency
not generally grasped or inadequately appreciated at system. China to-day suffers from a multiplicity of
home. Perhaps this is because the awakening of the currency of widely fluctuating value. Many of the
Chinese Empire, after many centuries of somnolence, coins used in one district are not accepted in other
has attracted less attention here than throughout Eu­ parts of the Empire, and even the tael is governed to a
rope. Recent developments have emphasized the great extent by the market value of silver. But as
progress already made in arousing China from her in­ already stated, the Government is bent upon estab­
dustrial lethargy, her financial chaos and her political lishing uniformity, and as part of the proposed reform
serfdom. The loan to be floated by an influential a Central Bank controlled by the Government is to be
syndicate of American bankers, the first transaction established. The scheme will involve the purchase of
of the kind ever negotiated by the Chinese Govern­ a large amount of silver, which is to form the basis of
ment, is but one step in the Oriental march forward. the national coinage. Last week we briefly recorded
The fundamental change in the attitude of the the decision to award American bankers a $50,000,000
reigning family towards the political demands of the loan, and now it is learned that part of the proceeds
people is perhaps more significant than either the will be applied to currency reform, the balance, it is
welcoming of private capital from the United States somewhat vaguely stated, to tie used for the develop­
or the decision to hasten the institution of currency ment of industries and the construction of railroads.
reform. China was promised an Imperial Parliament Some time ago the $30,000,000 Hankow Railroad
by the late Dowager Empress several years ago, the loan was sanctioned, but owing to the dispute that
body to be formed in 1915-1916 after a preparatory arose among different nations as to how the amount
period extending over nine years. Even the easy­ should be allotted, and also owing to the opposition
going Chinese, accustomed to a lack of haste, protested of influential Chinese subjects, the contemplated line
that so long a delay was unnecessary and unjust, but has been delayed. Other railroads, however, are
when the Provincial Assemblies memorialized the assured. On Thursday it was announced from Lon­
Throne, the Prince Regent replied that the original pro­ don that “the Chinese Tientsen-Pukow Railway loan
gram could not be altered. The force of public opin­ of £1,100,000 offered here was fully subscribed and is
ion, however, hitherto as impotent in China as it was quoted at Ax °/o premium on lOO^, the issue price.”
until recently in Russia, has caused the Pekin authori­ It must not be hastily assumed that China can be
ties to modify their formerly uncompromising attitude. transformed in one year or one decade, or that no diffi­
This opinion was voiced by the new Senate, consisting culties will be encountered by foreign firms who enter
of 200 members, half of whom were appointed by the the Celestial Empire to construct new enterprises or
Throne, a body designed to prepare the way for the carry on trade. Nor need it be imagined that the
larger legislative chamber to be ushered in five years capital to be supplied by America will prove sufficient
from now. The Senate last month adopted an almost to guarantee the reformation of the currency over so
unanimous memorial praying for the establishment of vast a territory. Oriental prejudices will have to be
a popular Parliament at the earliest possible moment. delicately handled, the traditions of a thousand years
The Viceroys and Governors of provinces gave their will obtrude and unfamiliarity with modern methods
support to the unofficial members of the Senate, and will check progress. But when all this has been said,
the enlightened classes evinced much earnestness over the encouraging fact remains that the Chinese Gov­
the matter. The Throne ordered the Grand Council to ernment and many of the leading members of the
consider the memorial, and instead of a fresh refusal to aristocracy have imbibed the elementary principals
modify the original plans there came on Monday last of Western civilization and are alive to the advantages
from Prince Yu Lang, a member of the Grand Council, derivable from their introduction into the Empire.
an announcement, accepted as official, that the entire
nation, “from the highest to the lowest,” was agreed
THE NEW RESPONSIBILITIES OF RATE
upon the necessity of the early establishment of a
REGULATING.
general Parliament. This change of front within six
months is interpreted as peculiarly suggestive, and the The point raised by President Willard of the Balti­
progressive leaders are hopeful that the nine-year more & Ohio RR. in the rate hearing before the Inter­
period will be radically reduced. In a comparatively State Commerce Commission, that, as the situation has
short time, measured by Oriental standards, the Chi­ shaped itself, the Commission has become charged
nese Empire will therefore be governed by a consti­ with a new duty in respect to railroads, is so striking
tutionally elected Parliament, a change so revolution­ and so novel that it deserves more than the casual
ary that its full significance cannot easily be realized mention of it we were able to make in our issue of
by those who had come to regard the Celestial Empire Oct. 15. In substance, the point made by Mr. Willard
as beyond the pale of modem democratic tendencies. It is thus: You, members of this Commission, have



NOV. 5 1910.1

THE CHRONICLE

taken into your own hands certain important functions
heretofore exercised by railroad managers as a part of
their duties; therefore, you must now assume the respon
sibilities which attach to those functions. Particu­
larly, it has always been among the duties of railroad
managers to see to it that not only was the property
kept in a condition of operative efficiency, but that its
net earnings and the rates which are a part of earnings
were such as would keep the property in good credit.
Now you have taken charge of the rates, and conse­
quently of the net earnings; therefore, you must
also look after the credit.
It is of enormous moment to the whole country to
understand whether this is a just and correct state­
ment of the situation or whether it is a piece of rhe­
torical exaggeration. The railway men who have
appeared before the Commission have not, we think,
indulged in rhetoric; yet there is a natural tendency
to emphasize one’s own case, and so it is not incon­
ceivable that one of them might overstate somewhat.
Observe, however, that the treatment of the particular
case in hand by the Commission will not affect the
question whether Mr. Willard is correct in saying that
the credit of railroads has been virtually turned over
to the Commission. Permission to make a slight
advance or to advance rates almost ad libitum, or, on
the other hand, a flat refusal to permit any advance,
would certainly lead to important results; but the
question whether Mr. Willard is coriect would not be
affected thereby.
Let us take one point as example: the safety of
passenger travel. The man who buys a ticket and
takes his seat for a journey has a well-grounded faith
that his risk is too slight to worry about, but he has
no positive knowledge of the condition of roadbed,
bridges, rails, rolling stock, and the other factors in
which a hundred possible dangers lurk: he trusts
all these matters to the managers. He assumes that
they have made all provision humanly possible—it is
theii business and a part of their work. That has been
the situation. But now five or six men, by an obliga­
tion or permission of law, partly laid upon them and
partly sought by themselves, have undertaken to limit
rates. The sufficiency of rates is the precise question
they assume to determine; that is, this sufficiency
they also undertake to guarantee, since whoever
decides anything takes responsibility for consequences.
Suppose—for certainly this is supposable—the rates
are not sufficient? Suppose bridges are not replaced
quite when they wisely might be; or that rails and
lolling stock are pushed a little beyond the safest limits
of wear; suppose the protective and preventive side
of the multifarious work of a road suffers because the
road doe? not earn enough, and therefore too many
chances are taken—it follows that public safety is not
cared for as well as heretofore.
The same reasoning applies to regularity, speed and
certainty of train service, to comfort of passengers,
to promptness and certainty of freight service. If
the net earnings do not provide for the safest and most
efficient service to the public, or if the road is not doing
well enough, in resped to its present and its prospedive
position as a business enterprise, then its credit will as
certainly suffer as the credit of any individual trader.
Mr. Willard confined his point to the matter of credit,
but the same inevitable line of reasoning applies to
every detail of public service.



1315

A professor of political economy in a Western uni­
versity has just contributed to a weekly journal an
article on this rate subject. He admits the case of
the roads, that they are subject to greatly increased
expenses. He writes with evident intent to be just;
but he adduces two offsetting points: first, that the
real cost of service has greatly diminished, because
of the great increase in traffic with almost no increase
in fixed expenses; second, that the roads have probably
suffered less than the general public by rise in prices,
because they are heavy and influential buyers. The
first proposition the writer pushes altogether too far.
The second one has no force whatever, since whatever
advantage accrues from the scale of purchase is an
advantage that has always been with them. Yet it
suggests one observation: railroads have not one iota
of favor as regards being held to the laws of trading.
Nobody gives a railroad anything (unless advice), and
if there is any man living who would be generous to a
road in respect to its service to himself, or would not
drive the hardest terms permitted by the market in
trading with a road, such man ought to present him­
self before the Commission on behalf of no increase in
rates.
Observe, next, that it is outside, the mark to say
(or believe) that the Commission will never, in prac­
tice, keep, or order, rates so low as to impair either
public safety and service or railroad credit; whether
this will, or may, happen does not touch the point that
the Commission has taken over the subject of railway
credit, although without intending that. As Mr. Wil­
lard puts it, the Commission becomes virtually the
board of directors, because it takes from the nominal
board some of its most important functions. There
may be a superintendent and a manager and a direc­
tor; but he who superintends and manages and directs
those officers takes responsibility for their duties,
though they remain in nominal position. We have
now a right to expect of you (says Mr. WiUard) that
you establish, or permit to be established, conditions
under which it will be possible to carry on the business
of railroading successfully in all respects.
Is it possible to dispute the correctness of this pre­
sentation? The power having been assumed, can the
responsibility be avoided?
This real change in the situation has come about
so gradually, and so much without any definite aim to
produce it, that the public do not realize the truth.
Aiming to regulate railroad service so as to be less
disci iminatory and oppressive than it was assumed to
be, the aggressiveness of interference has gone on,
one step at a time, until only the really lesser details
of management are left untouched. Assume, for
the argument, that the control of rates and otherwise
as now held to vest in the Commission, stands unmodi­
fied by the courts, the country is in the position of
having taken from railroad owners substantially all
except the nominal ownership. This is only one step
short of what is commonly called government owner­
ship. Whether this remaining step will, or will not,
be taken, we do not consider; perhaps consideration of
it would be premature. But do the thinking people
of this country realize at all, as yet, to what a radical
and far-reaching change in the situation they have
been borne along, without noticing the drift
of the process, and certainly without having
intended it?

1216

THE CHRONICLE

[VOL. L X X X X I.

class involves the same baggage charge as the firstPASSENGER FARES HERE AND IN EUROPE. class. Taking 2,154 miles as the unit of comparison,
Any carefully-made comparison between the cost and supposing 168 lbs. baggage to be carried, the
and comfort of railway passenger travel in this country result worked out is a cost of $69 26, or 3.21 cents
and in Europe is of especial timeliness now that per mile, at a rate of 30.4 miles per hour, in Europe; in
railways are subjected to such general attack. Com­ North America, a cost of $51 86, or 2.41 cents per mile,
fort is obviously so personal a matter that no broad at 38.6 miles per hour, in the ordinary car. One who
comparison can be made except between travel goes with only hand baggage pays something less here
modes which are greatly unlike, as between travel than the European second-class and considerably less
now and that of a century ago; but cost is a question than the European first-class.
reducible to figures. The “Official Railway Guide” This comparison needs little comment. Incident­
for this month contains the results of observations ally, it concurs with other examinations as to the
by an experienced traveler, giving cost figures for rather poor success of government ownership in
several thousand miles actually traversed on European Europe as contrasted with results from private owner­
roads (many of them owned and operated by the ship in this country. Accepting these figures as
respective governments), the routes being between 16 correct arithmetically and as fair in respect to the
cities with an aggregate population of about 9 millions. method of comparison, it is a very moderate deduction
The territory lies within a square of about 600x900 that Americans have no just ground for complaint of
miles, about equaling the part of this country east passenger fares.
of the Mississippi and north of the Ohio.
Sleeping-car fares are much higher in Europe than
THE BURLINGTON & QUINCY AND ITS
here, but they are not considered, the comparison
OPERATING RESULTS.
being restricted to ordinary first-class tickets such Like other large systems, the Chicago Burlington &
as the average passenger buys in either country. Quincy Railroad Co. in its annual report gives evidence
No “train de luxe” is considered, nor are the much- of the tiying conditions under which railroad opera­
reduced commutation rates in the neighborhood of tions have to be carried on at the present time. There
American cities and in use abroad in a manner differing has been such an augmentation in operating cost that
somewhat from our own, yet alike in principle. The even very large additions to traffic and gross revenues
examination also excludes night travel.
suffice merely to yield relatively small gains in net,
A tabular presentation is made for each country, as is true in this instance, while very often there is
made up of 11 routes for each, these routes having an actual loss in net. The resuit in the case of the
about the same range of length and footing up about Burlington & Quincy is the more noteworthy as it is
the same, 2,154 miles in Europe and 2,211 in North one of the oldest railroad properties in the United
America. The average speed is 30.41 miles per hour in States and has always been administered in accord­
Europe and 38.62 in North America; the average ance with sound and progressive ideas, while yet there
fare is .Ҥ76 55 for the European 2,154 miles, against has never been any departure from conservative
$50 45 for the 2,211 American miles. This works methods.
out at an average of 3.55 cents for the former and It should be distinctly understood that there is
2.28 cents for the latter, but this is only part of the no lack of growth in traffic. The management of
showing. Here, “large” or separately-transported the Burlington & Quincy, the same as that of other
baggage is free, up to 150 lbs., while in Europe the roads, has always been assiduously engaged in culti­
rule varies from a charge for the entire weight to vating new business and in addition the wonderful
carrying a small portion free; including, therefore, expansion of the Western country, in part as the
the baggage charge in Europe and the optional parlor- result of the energy and foresight of the railroad
car here, the total becomes $95 97, or 4.5 cents per officials, has made large additions to both the passenger
mile in Europe, against $60 15, or an average of 2.7 and the freight traffic and revenues a certainty from
cents per mile in North America.
year to year, except in times of trade depression
Reducing the calculation for America to the distance or crop failure. The trouble is whol'y with the rise
actually traveled in Europe, and including in each in operating cost, brought about by a multitude of
case 168 lbs. baggage, this is the result reached: circumstances, such as higher wages, enhanced prices
first-class travel in Europe, 2,154 miles, at a rate of for fuel, materials and supplies, together with the
30.4 miles per hour, cost $95.97, or 4.46 cents per demand of the public for increased facilities, better
mile; in North America, the same distance, including accommodations, faster time and a steadily improving
a reserved seat in parlor car, costs $61 56, or about service in all directions. The result of all this is
2.86 cents per mile. This makes the European cost strikingly seen in the report of the Burlington &
exceed the North American by over 55%; or, using Quincy for the year under review.
another form of statement, the passenger with his The accounts this time are on a somewhat different
baggage would pay $22 25 for carraige of 500 miles, basis from those of previous years, one minor
in Europe, in 16 horn’s and 27 minutes, while in America controlled road being now excluded from the totals;
he could go the same distance in 12 hours and 56 the Colorado & Southern is another controlled road,
minutes for $14 30, and in a parlor car. Stated in but that has never been included. On this new basis
still another form, 'fir first-class ticket in Europe may the aggregate of the gross revenues has advanced from
be fairly compared, as to price and accommodations, $78,612,629 in 1908-09 to $87,869,517: in ^ d ^ lO ,
with a first-class in America, plus a parlor-car seat.” being an increase of over $9,000,000, but. expenses'
MuohJ European travel is second or third-class. have moved up in almost equal amount, rising from
The latter has no parallel here outside of emigrant $54,560,998 to $63,010,965, and consequently the
trains* and therefore is not considered. The second- increase in net has been only from $24,0l51,63l to



Nov. 5 1010.]

THE CHRONICLE

1217

$21,858,552. But oven this small gain in net has years. It. is impossible to make exact comparisons with
not been retained. The deficit from outside operations the earlier years,in part because, as already, stated,
was increased slightly, and in addition the taxes, as one minor controlled road is now excluded from
with other roads, made a noteworthy jump, running the totals, but mainly because the Inter-State Com­
up from $2,517,017 to $2,970,736. In the final net merce Commission has been enforcing new accounting
the increase for the twelve months was only $347,326. methods in the more recent years, and this involves
In other words, a gain of over
million dollars in greater or smaller changes in both the revenues and
gross yielded only one-third of a million dollars the expenditures. A fairly reliable indication, how­
addition to net.
ever, can be furnished of the way expenditures kept
The company’s requirements for interest on its mounting up long before the advent of the latest fiscal
funded debt, and for rents, &e., increased roughly a year, the report of which we are now reviewing. In
million dollars, and had it not been for a gain of about the year immediately preceding, when all the roads in
1lA million dollars in the income from investments the country were economizing, there had been some
and other sources, the income showing for the twelve slight saving in the expenses. According to the old
months would actually have been poorer than for the method of compiling the figures, grossearnings in that
year preceding, notwithstanding the great increase in year were added to in amount of $955,294, while
business done and in the volume of transportation expenses were curtailed in the sum of $637,465, thus
service rendered. As it is, the surplus above the 8% producing a gain in net of $1,592,759. The comparison
dividends paid on Burlington & Quincy stock is here is on the new basis of accounting ordered by the
$4,441,618, as against a surplus of $3,503,952 for the Intei-State Commerce Commission, though the figures
twelve months preceding; $3,329,006 of the amount are on a somewhat different mileage than for 1909-10.
was applied in paying for betterments, against $2,­ For preceding years no figures are available on this
237,080 applied in the previous year, leaving a balance new basis, which renders comparisons with these
of $1,112,611 for 1909-10, against a similar balance in earlier years, made in accordance with a different
1908-09 of $1,266,871.
system of classification, both for revenues and ex­
The $3,329,006 of surplus income applied in the penses, extremely difficult, as already pointed out.
making of betterments is not large, considering the It may be affirmed, though, with considerable con­
size of the Burlington & Quincy system, which com­ fidence, that in 1907-08, in face of a loss of about
prises over 9,000 miles of road. The fact that the 3]^ million dollars in gross earnings, expenses in the
appropriation is a million dollars larger than for the aggregate (not counting the ‘'general” expenses in
preceding year is an indication of what disposition which the changes in classification chiefly came in)
railroad managers make of any improvement in remained substantially the same as in the year before,
income or surplus when it comes. It is put right indicating that very little saving took place or could
back into the property, to improve its physical or be effected.
financial standing, increases in dividends have latterly Prior to 1907-0S no fact was more prominent than
been rare, and the traveling and shipping public gets the tremendous increase in expenditures. Thus in
the benefit in the fact that an increase in fixed charges 1906-07, with a gain in gross earnings (on the old
is to that extent avoided. This last would be in­ basis of accounting) of no less than $8,326,580, the
evitable if payment, for the outlays were made through addition to net was no more than $885,235, of which,
additions to the outstanding amount of bonds or moreover, increased taxes consumed $793,910, leaving
stock. As a matter of fact the Burlington & Quincy the actual improvement in net earnings for that year
did make some charges during the year to capital as the result of the $8,326,580 addition to gross only
account for additions and betterments; in other words, $91,325. In the year before (1905-06) an increase
besides the $3,329,006 charged to income for additions of $8,173,625 in gross was attended by an actual loss in
and betterments, $2,468,951 was charged to road and net of $1,059,684, and this loss was raised still further
equipment. The sum of $3,189,235 was also spent to $1,234,574 by the fact that the company was
for new lines and extensions, making the total new obliged to pay out $174,890 more for taxes. In other
capital outlays for the year $5,658,186 in addition to words, for these two earlier years combined the
the $3,329,006 taken from earnings to pay for better­ result was that an addition of $16,500,205 to gross
ments.
earnings left net income above expenses and ([taxes
It should be observed that the $8,449,967 increase in smaller by $1,143,249.
expenses in the late year was pretty well distributed Altogether we have here a record of rising expend-,
among the different groups of expenditures. For tures, long continued, that appears to have few equals
maintenance of way and structures $2,738,688 more among American roads, though in the history of
was spent than in the year preceding; for maintenance recent years higher operating costs have been such a
of equipment the addition was $1,690,750, making conspicuous feature. It is suggested that the Burling­
altogether an increase on maintenance account of ton has always been very liberal in its maintenance
$4,429,438. At the same time, the transportation outlays and repair work, beyond most other roads
expenditures ran up $3,785,322, the traffic expenses distinguished in that, regard. Doubtless there is a
were increased $78,091 and the general expenses $157,­ substratum of truth in the statement, and yet the
116, making altogether an addition under these three fact that even in years of depression there has been
heads of $4,020,529. as against the increase of $1,­ ittle or no contraction in the expenditures would
429,438 in the maintenance expenditures. .
seem to afford warrant for the belief that curtailment
This rise in operating expenses in the late year las not been found an easy task or . else has been
possesses additional significance because in the case considered inexpedient and inadvisable. .......
of this property augmenting expenses have been such The growth m operating cost has occurred in face
a feature of its returns in so many of the preceding of the development of marked operating efficiency*



1218

THE CHRONICLE

For instance, in previous annual reviews we have
given a little tabular statement which showed great
expansion in the freight traffic of the system coincident
with an actual reduction in train-mileage. In other
words, it was found that the number of tons of freight
moved one mile had increased from 3,350,000,000 in
1900-01 to 6,682,388,326 in 1908-09; but the number
of miles run by the freight trains to haul this doubled
volume of tonnage in 1908-09 was only 17,491,315
miles, as against 19,168,750 miles in 1900-01, the
average train-load having in the mean time increase.!
from 180 tons to 387 tons. In 1910 there was a slight
reduction again in the train-load, but there is nothing
to indicate that the decrease possesses any signifi­
cance. Comparison of the train-mileage is not possible
because in several particulars the figures are now on
a different basis.
Another point deserves consideration. It seems to
us that since the Burlington & Quincy in 1901 came
under the joint control of the Great Northern and the
Northern Pacific (these together owning $107,613,500
out of the $110,839,100 of outstanding stock), the
character of the freight traffic of the system has
undergone considerable change. Apparently there is
now a larger proportion of the lower classes of freight,
those bearing the smallest rates and yielding the least
margin of profit. It is, at all events, true that there
has been a very noteworthy decline in the average
rate received during the last eight years, this decline
having continued even during the late year. In
1909-10 the company realized an average of 7.83 mills
per ton per mile, against 7.89 mills in 1908-09. This
is not a very laige shrinkage in itself, but going back
we find that as recently as 1901-02 the average stood
at 8.96 mills per ton-mile. Doubtless, this falling
off in rates, indicating a smaller percentage of the
profitable classes of traffic, has played its part—along
with the rise in wages and the higher prices of supplies
and materials—in advancing operating cost on the
Burlington & Quincy.
MR. RHETT’S PLAN FOR BANK NOTE ISSUES.
In our Bankers Convention Section of October 15. devoted
to a report of the proceedings of the Convention at Los
Angeles of the American Bankers' Association, we published
the remarks made by R. G. Rhett, President of the People's
National Bank of Charleston, S. C., on the subject of “ A
Southern Banker's View of the Currency Question," as
furnished by the official stenographer of the Association.
We have been asked to give also the detailed plan which
Mr. Rhett has worked out, embodying his ideas, and which
he presented to the Convention, but did not read because
of the lateness of the hour. We accordingly print it here­
with. We do this the more readily as the remarks made
by Mr. Rhett before the Convention were extemporaneous
and the stenographer in taking down what was said was
evidently not very successful in getting all parts of the
address in intelligible shape.

A B IL L TO E S T A B L I S H A N A T IO N A L B A N K -N O T E C U R R E N C Y
SYSTE M .
S ection 1. On Ja n u a ry 1 1 0 .. th e lim it of th e bond-secured currency
of every n atio n a l b an k shall be 50% of Its cap ital sto ck , a n d th is lim it
shall be reduced b y 5% of th e cap ital sto ck each y e a r th e rea fter, un til
retired .
Section 2. A ny n atio n a l ban k h av in g a c ap ita l of a t least $250,000
an d a surp lus of 20% m a y becom e a B ank of Issue, a n d du rin g 19— order
curren cy from Its S u b-T reasu ry to an a m o u n t n o t exceeding 50% of Its
c ap ita l, up on depositing w ith th e U nited S ta te s T reasu rer 2 H % of its
c ap ita l an d w ith said S u b-T reasu ry a n a m o u n t of gold, gold coin or U nited
S ta te s gold certificates equal to 20% of th e curren cy o rdered , w hich 20%
of curren cy o u tsta n d in g and uncancelcd shall be m ain tain ed w ith th e
said S u b -T reasu ry a s a cu rrency reserve. E ach y e a r th e a m o u n t of this
currency m a y be Increased 5% of th e cap ital sto ck of th e b an k, to tak e
th e place of th e sam e a m o u n t of retired bond-secured currency , upon th e
conditions h erein prescrib ed . T his currency shall be Issued In fives, tens
and tw enties, a s desired by th e ban k .
Section 3. In a d d itio n to th e currency h erein abov e prov ided, every
B ank of Issue shall h a v e th e rig h t to ta k e o u t a fu rth e r a m o u n t of currency .



[V O L .L X X X X I

to th e ’'o x te n t of 5 0 % lo f;lts cap ital; prov ided, th a t th e gold reserve to bo
m a in tain ed w ith Its S u b-T reasu ry shall be 50% for th e first half thereo f
and .6 6 2-3% on all In excess of th is half.
Section 4 . E v e ry B ank of Issue shall p a y sem i-annu ally on Ja n u a ry 1st
an d Ju ly 1st a ta x of 1 per cen t on th e averag e a m o u n t of this cu rrency In
circu latio n (n o t co u n tin g th a t In its ow n v a u lts or possession) du rin g th e
previous six m o n th s, less th e averag e gold reserve m ain tain ed by said
ban k w ith th e S u b-T reasu ry of Its d istric t. In excess of 20% of Its currency
o u tsta n d in g a n d uncanceled a n d less th e averag e gold reserve w ith th e
U n ited S ta te s T reasu rer, In excess of 5% of Its av erag e circulatio n; an d
also a ta x of 3% on th e averag e deficiency in th is gold reserve du rin g said
period. E xcess shall n o t offset deficiency. E ach shall be com puted
separately .
Section 5. S hould th e P resid en t a n d his C abinet concur In deem ing
th e em ergency sufficient, th e y m ay au th o rize th e Issue of a still fu rth e r
a m o u n t of currency , n o t exceeding 50% of
th e cap ital of each B ank of
Issue, ag a in st w hich a gold reserve m ay be
dispensed w ith a n d assets of
th e said b an ks su b stitu te d th erefor, b u t these assets m u st, In th e ju d g ­
m en t of th e D ep u ty C om ptroller of th e D istrict, exceed In v alu e by 33 1-3%
th e currency Issued. T he ta x upon th is currency shall be a t th e r a te of
2% p er a n u u m , b u t Its circulation sh all bo
lim ited to 00 day s from th e
d a te of a u th o riza tio n , a fte r w hich period th e ta x sh all bo a t th e ra te of
10% per an n u m u n til retired .
Section 0. T he notes of a B ank of Issue shall h a v e a prior lien up on Its
assets u n til th e P rim ary G u a ra n ty F u n d h erein after prov ided shall reach
3% of th e agg regate cap ital of all B ank s of Issue, a n d shall draw 5%
Interest from th e d a y of p re se n ta tio n a t th e place of p a y m e n t, If th e n
u n p a id , u n til th e S u b-T reasu rer shall publish notice of a readin ess to
redeem th em . I t shall be th e d u ty of th e S u b-T reasu rer In charge of such
S u b-T reasu ry to sta m p up on each no te th e d a te of such p rese n ta tio n
w henever It be n o t paid.
Section 7. No bank shall be p e rm itte d to ta k e o u t or keep o u t a n y
currency hereln 'ip ro vlded , u n til a n d unless It shall h av e In circulatio n Its
bond-secured currency to th e full lim it herein prescribed.
Section 8. E v e ry n o te Issued u n d er th is A ct sh all bear up on Its face
th e follow ing Inscription:
“ T his no te Is g u aran teed by th e N atio n al B ank s of Issue of th e U nited
S ta te s of A m erica, a n d Is redeem able In gold— 25.8 ounces, 9-10 fine to th e
dollar— a t U nited S ta te s S u b-T reasu ry N o. _ _. ”
Section 9. T he currency herein prov ided shall be received by all natio n al
ban ks a t p a r, a n d by th e G overnm ent for all dues, except d u ties on Im ports.
Section 10. E ach B ank of Issue shall p ay In gold Into th e U nited S ta te s
T reasu ry 2
of Its c ap ital, w hich shall be Increased by M % each year
u n til th e to ta l shall reach 5% of Its c ap ital. T h e gold shall c o n stitu te a
p o rtio n of th e g u a ra n ty fund for th e p rotection of th e currency provided
herein . W h en ev er th is fund shall be dep leted by m ore th a n 1% of th e
agg regate cap ital of all B ank s of Issue, th en each B ank of Issue shall be
assessed p ro p o rtio n ate ly by th e C om ptroller th e a m o u n t necessary to keep
It In ta ct, In th e follow ing m anner:
A s soon as Its Im pairm ent shall h av e reached 1% of th e said agg regate
cap ital, th e C om ptroller shall assess each B ank of Issue 1% of Its averag e
circulation for th e previous tw elve m o n th s, a n d so on. A t th e end of
every calen dar year he shall m ak e an ex act a d ju stm e n t by assessm ent, to
m eet a n y deficiency, o r by distrib u tio n of a n y surplus: P rovid ed, how ever,
th a t no g re ate r a m o u n t th a n 5% of th e circulatio n m ay bo assessed In a n y
one calen dar y ear.
Section 11. S ub-T reasuries shall be establish ed by th e S ecretary of
th e T reasu ry In as m an y T reasu ry d istric ts as m ay bo necessary to bring
every N ational B ank of Issuo w ithin less th a n tw enty-fo ur ho urs, by m all,
of a t least one S ub-T reasu ry , a n d each S u b-T reasu ry D istrict shall be
n u m b ered. E ach B ank of Issue shall s e le c t’Its S u b-T reasu ry w ith the
ap p ro v al of th o C om ptroller of th e C urrency, an d m ay change w ith his
app ro val.
Section 12. E ach S ub-T reasu ry shall keep on h an d a t all tim es cur­
ren cy of every B ank of Issuo In Its D istrict, to an a m o u n t n o t less th a n th e
c ap ita l sto ck of said ban k.
Section 13. E v e ry S u b-T reasu ry shall also c o n stitu te a currency
clearing-house, a n d shall tra n sm it dally to each B ank of Issue In Its d istric t
all of said b a n k ’s currency received by It from o th e r ban ks or S ub-T reas­
uries, unless otherw ise prov ided herein , or otherw ise directed by th e bank
Itself, d eb itin g said b a n k 's gold reserve w ith th o a m o u n t tra n sm itte d ,
an d It sh all c red it said gold reserve w ith all th e currency of o th e r B anks
of Issue w hich m ay be received from said b an k. I t shall also oxchange
dally w ith every o th e r S u b-T reasu ry th e currency of th e ir respectiv e
d istric ts. E v e ry S u b-T reasu ry shall redeem upon dem an d tho no tes of
every ban k In Its d istric t, In gold coin o r gold certificates to th e e x te n t of
th e gold reserve of tho b an k an d th e g u a ra n te e fu n d w ith tho U nited
S tates T reasu rer provided herein , for th e m ain ten an ce of w hich In stric t
com pliance herew ith th e G overnm ent pledges Its full fa ith . T ho balance
to th e c red it of a n y B ank of Issue w ith Its S u b-T reasu ry , In excess of tho
reserves herein req u ired , m ay be counted as p a rt of its deposit reserve.
Section 14. W henever th e gold reserve of a n y B ank of Issue w ith Its
S u b-T reasu ry shall fall below 50% of th a t hereinabove prov ided, no m ore
currency of said ban k shall be tra n sm itte d It u n til Its full reserve shall
h av e been resto red , an d . If n o t restored w ithin 30 day s. It m ay be suspended
by th e C o m ptroller a t his discretion . If tho d efau lt shall co n tinue six ty
day s, o r If th e deficiency shall fall below 30% of th e req uired a m o u n t, and
so co n tinue te n day s, It sh all be suspended an d liq u id ated or reorganized
by th e C om ptroller.
Section 15. T he P o st O ffice D ep artm en t shall furnish every N ational
B ank of Issue In tim e for use an envelope of su itab le size an d good te x tu re ,
corresp ond ing to each d a y In th e year. T hese envelopes shall h av e p rin ted
up on th e m th e d a y of th e m o n th , an d th e w ords, "C urrency for Sub­
T re a su ry N o.
A like n u m b er of envelopes, sim ilarly stam p ed sh al
be furnished th e Sub-T reasuries herein establish ed. T hese envelopes
shall be exchanged each d a y betw een th e N ational B anks of Issuo a n d th e
S u b-T reasu ries, w hether th e re arc a n y bills for tran sm ission or n o t. Tho.
envelope from th e S u b-T reasu ry shall alw ays con tain a sta te m e n t of th e
b an k ’s balance w ith It, a n d th a t from th e bank a sta te m e n t of Its ow n
bills on h a n d . T hese envelopes m u st be delivered an d received by som e
designated a g e n t o r a gents of th e ban ks a n d S ub-T reasuries to th e P o st­
m aster or his desig nated a g e n t, a n d receipts given for each deliv ery. E ach
envelope m ailed by a B ank of Issu e shall h av e th e nam e of th e bank w ritte n
o r stam p ed upon It. I t sh all be th e d u ty of every P o stm a ste r of a c ity or
tow n In w hich a N ational B ank of Issue o r S ub-T reasu ry Is located, to
keep a d ally record of these envelopes, a n d to rep o rt to th e D ep artm en t
p ro m p tly a n y failu re to receive or deliver one of them d a y by d a y from
an d to each N atio n al B ank of Issue In his city or tow n. No po stage or
re g istry charge will be req uired on these exchanges. A ny m issta tem e n t
m a d e In th ese exchanges shall be punish able by a lino of n o t m ore th a n
$5,000 o r Im priso nm en t n o t longer th a n one year.
S ection 10. T h e C om ptroller shall Insure all m oneys tran sm itte d to
a n d from tho S u b -T reasu ries for th e benefit of th e B anks of Issue, an d charg e
each w ith Its p ro p o rtio n ate expense as d etc rm ln e d jb y Its bills In course o *

N ot.

5 1910.)

THE CHRONICLE

tran sm ission . T hose a m o u n ts shall be charged u p m o n th ly ja g a ln s t each
b a n k ’s gold reserv e w ith th e S u b-T reasu ry of Its D istrict.
S ection 17. O u t of th e ta x collections prov ided In S ections 4 an d 5,
th e re shall be set aside 25% thereo f, to be know n as th e ‘‘P rim a ry G u a ra n ty
F u n d ;” to be prim arily liable for a n y loss Incurred th ro u g h th e no tes Issued
hereu n d er, an d to be accu m ulated an d held In tru s t, n o t only fo r th e
red em p tio n of th e said b an k no tes, b u t for th e g u a ra n ty a n d p a y m e n t of
depositors of H anks of Issue, w hose deposits draw no Interest, u n d e r th e
follow ing con dition s, to-w lt: for th e red em ptio n of th e no tes of th e B anks
of Issue exclusively, up to an a m o u n t equ al to 3% of th e agg reg ate c ap ital
of th e said ban ks, an d as to all am o u n ts In excess th ereo f, for th e red em ptio n
Jo intly of bo th th e n o te s a n d dep osits, w hich draw no Interest, an d su b­
ject" to d ra ft fo r e ith e r p u rp o se w ith o u t preference; prov ided, how ever,
th a t th e g u a ra n ty of d ep osits shall n o t go Into effect u n til th e fu n d shall
reach 5% of th e agg reg ate c ap ita l of said B ank s of Issue a t th e tim e.
Section 18. A n y B ank of Issue m a y cease to be such an d w ithd raw
a fte r n in e ty d a y s’ notice of a n In ten tio n of so doing, given In w ritin g to
th e C om ptroller of th e C urrency, a n d th e p a y m e n t of all obligations w hich
shall h av e accrued u p to th e d a te of w ithd raw al. In th a t e v en t It shall be
en title d to a re tu rn of th e 5% g u a ra n ty fund deposited w ith th e T reasurer.
Section 10. All B an k s of Issu e m ay becom e R eserve B ank s w ith th e
sam e privileges a n d up on th e sam e restrictio n s as ban ks In reserve cities,
up on filing w ith th e C om ptroller a no tice to th a t effect.
S ection 20. A ny B ank of Issue receivin g on dep osit m o re th a n eight
tim es Its p aid -u p c ap ita l sh all p a y th e U nited S ta te s T reasu rer Interest
on such excess a t th e ra te of 4% per an n u m . P rovid ed th a t an app lication
fo r Increase of c a p ita l, w hich Increase Is a c tu a lly m ad e w lth ln n ln c ty d a y s,
shall relieve a n y b an k from th is ta x from th e d a te of Its receip t by th e
C om ptroller a n d to th e e x te n t of th e Increase. A ny receipts from th is
section shall be ad d ed to th e fund provided In Section 17.
Section 21. E v e ry N ational B ank of Issue shall be exam ined n o t less
th a n th re e tim es du rin g each c ale n d a r y e a r a n d th e exam in er shall Include
w ith his rep o rt a certificate to th e effect th a t h e has exam ined Into the
v alu e of th e assets of th e B ank of Issue, a n d th a t to th e best of his know l­
edge a n d belief Its cap ital Is In ta ct. E ach ex am in er shall be paid by th e
G overnm ent, a n d shall receive no com pensation of a n y kin d from a n y
N ational B ank of Issue or Its officials. No b an k exam in er shall be per­
m itte d to exam ine a n y ban k tw ice In succession.
Section 22. W henever a n y b a n k exam in er shall re p o rt th a t th e cap ita
sto ck of a B ank of Issue Is, In Ills ju d g m en t, Im paired, he shall sta te In said
rep o rt specifically th e Item s w hich In his Ju dgm ent cause such Im pairm ent.
A copy of th is shall a t once be furnished to said b an k, a n d it shall a t th e
sam e tim e bo re q u ire d , w ithin ten day s, to a p p e a r before th e D eputy
C om ptroller In charg e of th e d istric t to w hich said b an k belongs, c ith er to
sa tisfy him th a t th e ex am in er Is m istak en or to give sa tisfac to ry assu rance
th a t th e cap ital will be m ad e w hole w ithin such tim e, n o t exceeding six ty
d a y s th e re a fte r, as th e said D ep u ty C om ptroller m ay determ ine.
S ection 23. In th e ev en t of th e suspension or th e failu re of a n y B a n k
of Issue, It sh all be th e d u ty of th e D ep u ty C om ptroller to m ake a n exam ina­
tion of all re p o rts Died by th e b an k exam iners d u rin g th e y e a r previous
th e reto an d in th e e v e n t he shall find th a t th ro u g h th e Incom petency,
neglect, or d elib erate a c t of a n y b an k exam iner, a n Im pairm ent of Its
c ap ital existing a t th e tim e o f th e exam in atio n w as n o t disclosed to the
D ep u ty C o m ptroller, th e n su ch b a n k exam in er shall be discharged, a n d he
shall n o t be re-em ployed In a n y G overnm ent or N ational B ank service.
S ection 24. T he T re a su re r of th e U nited S ta te s shall redeem a n y 2%
bond of th e G o v ern m en t, presented as herelnbelow described, a fte r Ja n u a ry
1 1 9 .., a t ----------- P ro v id e d , th a t these red em ptio ns shall only be m ad e
on Ja n u a ry 1st a n d Ju ly 1st In each y e a r a n d also th a t notice of n o t less
th a n six ty day s be given th e T re a su re r, in w ritin g, of an Intentio n to
ask red em ptio n, to g e th e r w ith a d e p o sit of th e bonds, o r of security for
th e ir p rod uction to a n a m o u n t n o t le ss th a n 5% of th e bonds to be re­
deem ed.
S ection 25. All T reasu ry n o te s a n d U nited S ta te s no tes shall be con­
v e rted Into gold certificates o r re tire d as rap id ly as p racticab le, n o t excedIng te n years from th e passage of th is A ct, a n d u n til retire d th e gold reserve
ag a in st them sh all be preserved a t th e presen t ratio .
Section 20. T h e S ecretary of th e T reasu ry is h ereb y a u th o rize d to Issue
an d sell as m an y bonds as he m ay find necessary to m ak e th e red em ptio ns
provided In th e la st tw o sections; said bond n o t to bear a g re ate r ra te of
Interest th a n 3% no r to ru n for a longer period th a n th irty years.
Section 27. All fractional silver shall be coined from th e silv er dollars
now on h a n d , a n d th e silver certificates rep resen tin g such called In. Silver
certificates shall be Issued In ones a n d tw os, to as g re at a n e x te n t as p ra ctic ­
ab le.
Section 28. In th e ev ent of th e G overnm ent becom ing Involved In w ar,
every n atio n al b an k shall pro p o rtio n ately be obliged to ta k e a t p ar, bonds
of th e U nited S ta te s, bearing In terest a t 2 yt % , n o t exceeding th e difference
betw een w h at th e y are a t th e tim e ho ldin g ag ain st currency a n d 50% of
th e ir c ap ital stocks; an d th e y m ay issue currency a g a in st these ad d itio n a l
bonds In th e sam e m an ner th e y now issue It a g a in s t G ov ernm en t 2%
bonds an d upon th e sam e term s. T his currency sh all be retire d In ten
equal Installm en ts, beginning w ith th e year a fte r th e w ar closes, a n d th e
G overnm ent shall redeem th e bonds a t such tim es a t p a r.
Section 29. All of th e 5% G u a ra n ty F u n d m u st be held In gold bars
or coin, b u t th e S ecretary of th e T reasu ry sh all establish a B ureau for the
p u rch ase of foreign prim e bills of exchang e a n d shall Invest an d keep In­
vested th e reserve rev en ue prov ided In Sections 17 an d 20, In such foreign
bills of exchange, u n til such tim es as th e gold m ay be needed for th e re­
dem p tio n of curren cy or o th e r em ergency. T he expense of em ploying an
a g e n t or ag en ts an d of m a in ta in in g agencies for this pu rpose shall be
d ed ucted from th e Interest received on th e bills of exchange of th e ‘‘P rim a ry
G u a ra n ty F u n d ,” to th e e x te n t to w hich It m ay go.
Section 30. I t shall be th e d u ty of th e U n ite d S ta te s T reasu rer to
d istrib u te th e fund s of th e G overnm ent as nearly ^.s p ra ctic a b le am o ngst
th e B anks of Issue in p ro p ortion to th e business done by th e G ov ernm en t In
th e te rrito ry trib u ta ry to th em . P rovid ed, how ever, th e y shall keep w ith
th e said B ureau of th e S ecretary of th e T reasu ry acceptab le prim e foreign
bills of exchange to cover th e av erag e deposits, or th e B ureau will pu rch ase
w ith o u t expense b u t a t th e b a n k ’s risk such bills an d provided also th e y
will p ay 1% on av erag e balances. P rovid ed fu rth e r, th a t w henever th e
conditions of the co u n try . In th e opinion of th e S ecretary of th e T reasu ry ,
w a rran t It, h e m ay suspend th is req u irem en t an d p e rm it o r req uire th e
su b stitu tio n of o th e r assets of th e said ban ks for a period n o t longer th a n
six m o nth s. T his shall n o t be rep ea te d a t sh o rter Intervals th a n one year
P rovid ed, fu rth e r, th a t no reserve shall be carried ag ain st these G overnm ent
fund s w hile secured by foreign prim e bills of exchange. P rovid ed also
th a t w hen th e deposits exceed one h u n d red m illion dollars, th is provision
m ay h o t ap p ly to th e excess a t th e discretion of th e S ecretary of th e
T reasu ry .
Section 31. T he U nited S tates T reasu rer shall rep o rt each q u a rte r th e
averag e dep osit carried by th e G overnm ent w ith each depository; also th e
to ta l a m o u n t of business done th rou gh each depository, lie shall m all
th ese to each S en ato r an d M em ber of Congress an d to each dep osito ry .




1219

IT E M S A B O U T B A N K S , B A N K E R S A N D T R U S T CO ’S.

The public sales of bank stocks this week aggregate 624
shares and were all made at the Stock Exchange. No trust
company stocks were sold.- Transactions in stock of the
Fourth National Bank reach a total of 487 shares, the price
advancing from 188 to 191. Stock of the National Bank
of Commerce, Corn Exchange Bank and National Park
Bank were also dealt in at higher prices, the advances
ranging from 2 to 3 ^ points. The table below, given in
our usual form, shows the actual sales of New York City
bank stocks made during the week at the Stock Exchange.
Extensive tables showing the bid and asked quotations,
deposits, surplus, &c., of banks and trust companies in
all important cities in the United States are published
monthly in the “ Bank and Quotation” Section, the November
issue of which accompanies to-day’s “ Chronicle.” Bid and
asked quotations for all New York City bank and trust
company stocks are also published weekly in another depart­
ment of the paper, and will be found to-day on pages 1229
and 1230.

Shares. B A N K S— New Y ork.
Low .
92 Com m erce, N a t. B an k o f------ 200
10 Corn E xchang e B a n k ------------ 315
487 F o u rth N ational B a n k ----------188
35 P a rk B ank , N a tio n a l................ 352

H igh. Close. L a st
202 H 202 H O ct.
315 315 O ct.
191 191 O ct
352 352 O ct.

previous
1910—
1910—
1910—
1910—

sale.
200
311 H
187
350

— An Imperial edict is reported to have been issued at
Peking, China, on Oct. 29, authorizing the proposed loan of
$50,000,000 to the Chinese Government by the local group
of bankers to which we alluded in our issue of Saturday last.
There have been no new developments during the past
two weeks in the cotton-bill-of-lading controversy between
the European and American bankers, and the impression
prevails generally that there is little probability of a re­
newal of the discussion. No settlement is thought likely,
either through the organization of a guaranty company or
the giving of a guaranty by the surety companies of this
city. The London “ Economist” in a recent issue stated
that no agreement could be formulated without the consent
of the Liverpool Cotton Association, and that this body
is at present almost unanimously opposed to anything
which might advance the price of cotton in Lancashire.
— Operations at the New Orleans Mint have been sus­
pended for the present, and all the gold bullion there is being
transferred to Philadelphia. Director of the Mint George
E. Roberts is quoted as stating that there is not work enough
to keep all the mints in operation, and it is with difficulty
that three of them are kept going.
— A revival of the practice of quoting bid and asked prices
for inactive stocks on the tape in the interval between sales
was instituted by the New York Stock Exchange on Wednes­
day, in order to furnish intending sellers of such stocks with
a better market and prevent extreme fluctuations. The
action was caused by a 10-point drop on a single sale of 100
shares of stock of the Cleveland Cincinnati Chicago & St.
Louis R y., which occurred on Tuesday, the price having
declined from 71, the close on Monday, to 61 on Tuesday
morning. In the sale immediately following the latter
there was a return to 69 (in the sale of 100 shares), this being
succeeded by another sale of 100 shares at 68, 100 shares
at 69, 200 at 70 and an odd lot at 67. The closing price, at
70, was one point lower than Monday’s close. An explana­
tion of the break, made by William G. McKinley, of John
Wallace & Co., the specialist in the stock, appeared in the
New York “ Times” of the 2d, and we quote from the latter
as follows:

H e [Mr. M cK inley] said th a t he received a n ord er to sell 100 sh ares a t
ab o u t 10:30 a n d rep o rted th a t the only bid w as a t 60, te n po ints below the
price a t w hich a n odd lo t had sold an d eleven p o ints below' M onday's close.
H e refused to execute th e order a t th e price a n d asked his clien t, w ho w as
a n o th e r b rok er on the floor, to w a it. H e th en m ade a canvass, he exp lain ed ,
of the brok ers w ho usually deal In th e sto ck s of th e V anderbilt roads, a n d
could n o t get a b e tte r price, At a b o u t 11:30 his client cam e back an d again
told him to sell th e sto ck a t th e bid price.
“ I told him I ’d give 61 for It m y self,” M r. M cK inley said, “ a n d he th e n
told m e th a t he him self had a n order to bu y 100 a t 61. I told him he’d
b e tte r sell It to him self, an d th a t’s w h at he d id .” T he w hole tran sa ctio n
w as perfectly open, M r. M cK inley said, a n d a n y one m ig ht have h ad the
sto ck a t 61.
By sending bid and asked prices over the tape in the inter­
val between sales it is hoped to avoid such erratic fluctua­
tions.
— The petition of the national banks of Kansas for a
review of the case involving the question of the constitu­
tionality of the deposit-guaranty law of that State as far
as the national institutions are concerned, was dismissed
by the United States Supreme Court on O c t .-25. "The
proceedings had been brought by the Abilene (Kan.) Na­
tional Bank on behalf of the national bainks. of Kansas

1220

THE CHRONICLE

and last December an injunction restraining the State officials
from enforcing the law was granted by Judge J. C. Pollock
of the United States Circuit Court. This injunction was
vacated in a decision handed down by Judge William C.
Hook of the United States Circuit Court of Appeals at
St. Paul, Minn., on May 20 1910, and the case was thereupon
taken to the Supromc Court of the United States, with the
result stated above. There is still another action pending
before the Supreme Court involving the Kansas law as far
as the Kansas State banks are concerned (this case having
boon brought by the Assaria State Bank of Assaria, Kan.), in
addition to actions bearing on the constitutionality of the
Oklahoma and Nebraska guaranty laws. The dismissal of
the petition of the Kansas national banks, we learn from
the Topeka “ Capital,” was without an opinion by the
Court, although from the nature of the three cases, that
paper states, it is understood that the action was taken with
a view to facilitating the proceedings. That they may all be
heard at one time, the Court consolidated the Kansas and
Nebraska cases on the 25th ult., and advanced them for
hearing with the Oklahoma case, which had precedence on
the docket, having been filed last year.
—The National Monetary Commission will meet on Nov. 10
for the first time in several months. The session will be
held in New York at the Hotel Plaza, and it will precede the
national conference on the monetary situation scheduled for
Nov. 11 and 12 at Columbia University, in connection with
the thirteenth annual meeting of the Academy of Political
Science of New York. Cov. White on the 28th ult. an­
nounced the appointment of the following delegates to repre­
sent New York State at the conference: Nicholas Murray
Butler, President of Columbia University; William Berri of
Brooklyn; Edward B. Vrceland of Salamanca, N. Y.; O. II.
Cheney, State Superintendent of Banks; Alexander D.
Noyes of the “ New York Evening Post” ; Leonard II. Groesbeck, Cashier of the Salt Springs National Bank of Syracuse,
and James H. Perkins, Vice-President of the National Com­
mercial Bank of Albany. At the meeting of the New York
Chamber of Commerce on Thursday a resolution was adopted
authorizing the President to appoint three delegates to
represent the Chamber at the conference.
— Nine currency associations are reported as having been
actually organized and approved by the Treasury Depart­
ment up to Oct. 31, in an announcement made by the Secre­
tary of the Treasury on that date. These are Washington,
Boston, New York, Philadelphia, Louisiana (with headquar­
ters at New Orleans), Georgia (with headquarters at Atlanta),
Chicago, Twin Cities (with headquarters at St. Paul) and
St. Louis. It is also stated that three other cities, namely,
Baltimore, Detroit and Albany, have completed their organ­
ization but have not yet sent their papers to the Treasury De­
partment, while three more— Cincinnati, Columbus and
Cleveland— have made application to organize.
— A. Barton Hopburn, President of the Chase National
Bank of this city, was unanimously elected President of the
New York Chamber of Commerce on Thursday, succeeding
the late J. Edward Simmons. James G. Cannon, President
of the Fourth National Bunk, was elected a member of the
Board of Trustees to serve until 1911, and Charles A. Peabody
was elected a member of the Committee on Insurance to
serve until 1913.
—A statement bearing on the condition of the Charing
Cross Bank of London, which closed its doors on Oct. 18, was
submitted to the depositors on Nov. 1. The Chairman
announced that, so far as could bo ascertained, the liabilities
were £2,500,000, or about $12,500,000, and the assets
£708,000, or about $3,540,000. The latter, it is stated, does
not include £1,250,000 which had been advanced by Alfred
Carpenter, owner of the bank, to the Atlantic Quebec &
Western R y. The value of these securities is said to be
doubtful, and it is further stated that it may bo necessary for
the creditors to raise a fund to complete the railway in order
that the asset may not be lost.
— James Jourdau, President of the Brooklyn Union Gas
Co. and a director in several banking institutions, died on
the 1st inst. Gen. Jourdan was a member of the directorate
of the People’s Trust Co. of Brooklyn, the Mechanics’ Bank of
Brooklyn and the Mechanics’ & Metals’ National Bank of
Manhattan, and was identified with numerous commercial
interests. He was seventy-nine years old.
— James A. Webb, a Vice-President of the Morristown
Trust Co. of Morristown, N. J., and a director of the Morris­
town Safe Deposit Co., died suddenly of heart disease on
29. He was eighty years of age.

Oct,




[V O L . L X X X X I .

— Echvard A. Durant, President of the failed grain house
of Durant & Elmore of Albany, N. Y ., was acquitted on
Oct. 28 of the charge of grand larceny in the first degree, on
which he was indicted in June, following the failure of the
concern through the alleged irregular use of bills of lading.
Mr. Durant had been indicted jointly with Gibson Oliver,
Treasurer of the company, and was charged with obtaining
$35,807 from the National Commercial Bank of Albany on
false bills of lading. At his own request, Mr. Durant was
tried individually. The verdict for acquittal was rendered
on the advice of County Judge Addington, who declared the
case to be absolutely devoid of evidence that the defendant
knew anything about the manipulation of the bills of lading
or their improper use. Treasurer Oliver, Henry 0. Palmer
and William R. Conley, who were also indicted during the
summer on charges growing out of the suspension, which oc­
curred in May, will be tried later in the State Supreme Court.
A petition in voluntary bankruptcy was filed by the firm on
the 3d inst. The liabilities arc given as $1,041,503, of which
$808,877 are classed as secured and $232,680 as unsecured.
The assets are said to be valued at $10,572. Bankruptcy
proceedings against the Oneonta Milling Co., a subsidiary
of the Durant & Elmore Co., were filed last month.
— J. II. Bronson has been elected President, of the Citi­
zens’ National Bank of Waterbury, Conn., succeeding the
late Frederick J. Kingsbury. Mr. Bronson had previously
been Vice-President.
— In its semi-annual dividend payment of Nov. 1 the
Franklin National Bank of Philadelphia places its stock upon
a 10% basis, a distribution of 8% having been made, against
7% heretofore. The latter rate had prevailed since May
1909, when it was raised from 6 % , or from 12 to 14%
annually. The bank has a capital of $1,000,000 and surplus
and net profits of $2,711,419. Its aggregate resources
amounted to $35,692,710 on Sept. 1, this being the result
of but ten years of operation, the bank having begun busi­
ness on July 1 1900.
— G. Glymer Brooke was this week elected to the direc­
torate of the Central National Bank of Philadelphia. The
bank has increased its surplus $250,000, making it now
$3,000,000.
— Frank II. Moss has been elected a director of the Corn
Exchange National Bank of Philadelphia to succeed the
late Benjamin Githens. The bank declared its regular
semi-annual dividend of 5% on the 1st inst. and added $50,­
000 to surplus, making the fund $1,450,000.
— Emil Winter, President of the Workingmen's Savings
Bank & Trust Co. of Allegheny, Pa., who some months ago
pleaded no defence to the charge of bribery in connection
with the naming of his bank as a city depository, was sen­
tenced on the 29th ult. to pay a fine of $500 and the costs of
prosecution. The sentence had been deferred, owing to the
ill-health of the defendant, which was also taken into con­
sideration in determining the penalty to be imposed.
—The commercial accounts of the American Deposit &
Trust Co. of Pittsburgh were recently transferred to the
Bank of Pittsburgh, N. A., and its savings accounts were
taken over by the Fidelity Title & Trust Co. The American
Deposit & Trust Co. (capital $125,000) was originally the
German-American Savings & Trust Co., under which title it
started business in 1902. In 1905 its name was changed to
the American National Bank, and in 1908 it became the
American Deposit & Trust Co. It now goes into liquidation.
— The fifth and final dividend to the depositors of the
Farmers’ & Merchants' National Bank of Mt. Pleasant, Pa.,
was declared on October 17. The disbursement amounts
to 10.7%. and brings the total payments up to 80.7% on
the proved claims of $531,031, the aggregate distribution
thus equaling $428,635. The institution closed its doors on
Oct. 29 1907.
— J. Willard Haley, formerly President of the Commerce
& Deposit Bank of Cincinnati, and later, its Managing
Director, an office which was recently discontinued, has
resigned as director of the institution.
— The Illinois Bankers’ Association, at its annual conven­
tion held at Cairo on Oct. 20 and 27, declared itself in favor
of New Orleans as the logical place for the World’s Panama
Exposition. The association also adopted a resolution ad­
vocating the passage of a law by Congress permitting na­
tional banks to loan money on real estate. In still another
resolution passed, the appointment of a committee of five
was authorized to “ rejuvenate and revise” the’ constitution
of the association. The appointment of a committee of fiVe

Nov. 5 1910.]

THE CHRONICLE

to help advance the work of soil improvement throughout
the State was also directed under a further resolution of the
bankers. One of the addresses which attracted particular
attention at the meeting was that of B. F. Harris of the First
National Bank of Champaign, 111. Mr. Harris adverted to
the question of examination of the national and State banks,
and in the course of his remarks asserted that all but five
of the States make some requirement with regard to examina­
tion of those who go into the banking business or use the term
“ bank” or “ banker.” Illinois, he said, is one of the five that
does not, and the other four are Kentucky, South Carolina,
Virginia and Vermont. Mr. Harris argued that it should
be the policy of the bankers themselves to direct the proper
safeguards and restrictions rather than to have others do
t for them. E. J. Parker, of the State Savings Loan & Trust
Co. of Quincy, 111., presented, as Chairman, the report of
the Federal Legislative Committee, which dealt with a refer­
ence to the postal savings bank and the Aldrich-Vreeland
currency bills. Mr. Parker alluded to the fact that under
the latter only national banks are eligible to membership in
the national currency associations— that, although State
banks are members of present clearing-house associations in
commercial centres, no provision is made in the bill for the
use of their assets as a basis for note circulation when emer­
gencies arise. He argued that our clearing-house associa­
tions should be incorporated under Federal law, or the Aldrich-Vreeland bill should be amended to include State
banks in the membership of national currency associations,
so that their combined resources may afford a greater asset
basis and more perfect security for the issue of emergency
currency. Clearing-house associations, Mr. Harris con­
tended, once incorporated under Federal law and with power
to issue an emergency currency, would reduce to a minimum
— or possibly prevent altogether— sudden contraction of
credits and subsequent years of liquidation in business cir­
' cles.

1221

been identified with the banking interests of Minneapolis
since 1887, when he became associated with the Flour City
National Bank. Some fifteen years ago he went with the
National Bank of Commerce as Assistant Cashier, later be­
coming Cashier, and in January 1907 advancing to the office
of Vice-President. Upon the consolidation of the National
Bank of Commerce with the Northwestern National in 1908,
Mr. Crane continued as a Vice-President with the enlarged
Northwestern National. Mr. Orde, one of the other new
Vice-Presidents of the First National, had been Cashier of
the latter since 1905, He had previously been connected
with the Northern Trust Co. of Chicago for ten years,
during nine of which he had served in its cashiership. Mr.
Mackerchar has been with the First National for nearly
twenty-five years. Mr. Willoughby, now Cashier, had been
an Assistant Cashier of the bank for about four years.
Ihe Minnesota Loan & Trust Co. of Minneapolis has
decided to carry out plans for the organization of a real estate
and insurance department which have been under con­
sideration since the institution became affiliated with the
iSortlnvestern National Bank of that city last year. The
new department will be under the general supervision of a
committee of directors. In addition to the care of its own
property and that of trust estates, the company will under­
take to list property and sell on commission for its clients, to
collect rents, and otherwise act as caretakers of real estate.
— A new bank now being formed in Denver, Colo., is to
bear the title of the Hamilton National Bank. It is to have
a capital of $250,000. The interests concerned in the move­
ment are W. V. Hodges, T. A. Cosgriff, W. H. Kistler, W. J.
Barker, R. J. Bardwell and J. M. Kuykendall.
— The People’s National Bank of Charleston, S. C., plans
to increase its capital from $300,000 to $500,000. A meet­
ing of the stockholders will be held on Nov. 29 to pass on
the question. With the proposed increase the bank will
have a larger capital than any other financial institution in
the city. R. G. Rhett, Mayor of Charleston, is President
of the People’s National, E. H. Sparkman, Vice-President,
and E. P. Grice, Cashier.

— A new Chicago bank is the Michigan Avenue Trust Co.
(capital, $200,000; surplus, $50,000), which opened its doors
for business at 2218 Michigan Ave. on Saturday last— October
29. This is the first banking institution to invade this
particular territory, formerly occupied by fine residences,
The First National Bank of Birmingham, Ala., which
but now largely given over to the automobile trade. The already has combined capital, surplus and profits of nearly
officers of the now bank are: President, Landon C. Rose; $2,000,000, will add another million dollars to its capitaliza­
Vice-President, Daniel J. Schuyler Jr., and Cashier, T. A. tion under authority of its stockholders in action taken at
Fitzsimmons. The directors are: H. G. B. Alexander, a meeting on Oct. 11. In accordance therewith, the bank
H. S. Black, John T. Emery, R. C. Keller, George Lytton, will increase its capital from $1,000,000 to $1,500,000, the
Jacob Mortenson, John D. Ross, W. N. Rumely, Henry S. new stock being offered to the present shareholders at $200
Wilcox, Mr. Rose and Mr. Schuyler. Previous reference to per share, enabling the addition of a like sum of $500,000 to
the institution was made in our issue of Feb. 19.
the surplus, making it also about $1,500,000. The enlarged
The trustees of the Chicago Clearing-House banks arc capital is to become effective on Jan. 3 1911. While the
reported to have disposed of property at 154 and 156 Wash­ bank was organized in 1884, its present standing has been
ington Street, which had been turned over by John R. Walsh developed mainly during the past ten years. In July 1896
in settlement of his debt to the banks, incurred with the closing a reorganization of the bank took place, its capital at that
in 1905 of the three institutions with which he was identified, time being $250,000 and its deposits amounting to $675,000;
namely, the Chicago National Bank, the Equitable Trust there was no surplus. Six years later, on July 1 1902, the
Co. and the Home Savings Bank. The amount realized in deposits were approximately $3,500,000, with surplus and
the sale by the Clearing-House banks is said to be $266,666. undivided profits of about $200,000. On Sept. 9 1902 the
Another recent sale effected by the trustees is that of the capital was increased to $300,000 and on Jan. 12 1904 the
stock ($600,000) of the Bedford Quarry Co. of Bedford, capital was again enlarged, this time to $500,000, a special
Ind., in which the sum of $750,000 will be realized. The dividend of 66 2-3% having been declared and applied by
cash for the latter, it is stated, has not been received as the stockholders to the payment of their subscription to the
yet, but will be in the near future. With the above pay­ new capital. A further addition to the capital was made on
ments, it is reported that the balance of the Walsh claim Nov. 1 1905, when it was raised to $1,000,000. Since Jan. 1
■will be reduced to about $8,000,000.
1897 the bank has paid dividends regularly, the return to the
— A permit for the organization of the State Bank of Lake- stockholders since that date aggregating $829,000. The
view, Chicago, was issued on the 31st ult. The new insti­ payments since Jan. 1 1909 have been 2 j^ % quarterly, pr
tution is to have a capital of $200,000 and it is reported that $100,000 a year. Under the Comptroller’s call of Sept. 1
it will take over the business of the North Shore Exchange the bank had deposits of $8,726,910, while its resources to­
Bank at 3160 North Clark Street. George W. McCabe, until taled $11,627,294. W. P. G. Harding is President, J. H.
recently connected with the Commercial National Bank of Woodward and J. II. Barr, Vice-Presidents, and Thomas
Hopkins, Cashier.
Chatsworth, 111., is one of the organizers of the new bank.
A.
A. Crane has resigned as Vice-President of the North­
— J. II. Fulton, heretofore Vice-President of. the Commer­
-western National Bank of Minneapolis to become a Vice­ cial National Bank of New Orleans, has replaced William M.
President of the First National Bank of that city. Several Smith in the presidency of the institution.
other important changes in the managerial staff of the First
— Following a contest for control, the All Night & Day
National wore made at a meeting of its directors on Oct. 27. Bank of Los Angeles, Cal., was closed on October 14 by
Cashier George F- Orde and Assistant Cashier Donald Mack- State Superintendent of Banks Alden Anderson>who, on the
•erchar being also made Vice-Presidents and II. A. Wil­ 18th ult., acting under an order from the Superior Court,
loughby, Assistant Cashier, being promoted to the office of turnod the bank over to the new management elected on the
-Cashier. With these changes the entire official force of the 14th. The controversy, according to, the Los Angeles
First National is now as follows: F. M. Prince, President; “ Times,” grew out.of,Joans, made by th^ banjc with its stock
C. T. Jaffray, A. A. Crane, George I<\ Orde and D. Mac- as collateral. Some time ago, it is reported, R. C. Brand,
korchar, Viccvl’ rosidents; II. A. Willoughby, Cashier; G. A. Manager of the Title. Guarantee & Trust Co., loaned tlxe
.Lyon and P. J. Leeman, Assistant Cashiers. Mr. Crane has officers of the bank $60,000 on a demand note, accepting



1222

THE CHRONICLE

[VOL. L X X X X I

Canadian Bank Clearings .— The clearings of the Canadian
1,100 shares of the latter’s stock as collateral. It is stated
banks for the month of October 1910 show an increase over
that with the failure to meet the note the stock was disposed the same month of 1909 of 6.2% , and for the ten months
of ut public auction, and bought by Hugh Blue, an employee the gain reaches 19.7%.
of Mr. Brand, at about 80 cents on the dollar. The officials
Ten Months.
of the bank are said to have refused to transfer the stock to
October.
the new holders, but the Superior Court granted the petition Clearings at—
Inc. or
Inc. or
1909.
Dec.
Dec.
1910.
1910.
of the receiver appointed for the stock (the Title Guarantee
%
$
& Trust Co.) that it be allowed to vote the stock at a meeting
%
S ,232 186,061.093 —3.0
Canada—
1,476,759,485 + 16.2
M ontreal.......... 180,549 ,824 133,768,916 + 9.1 1,716,063
of the shareholders on Oct. 14th. At this meeting over 1,200 Toronto
1.156,879,446 + 11.0
1,284.372
146.006
.......... 104,341
658,602,559 + 30.0
220 97,862.863 + 6.6 725,554.
Winnipeg..........
shares were voted by the Brand interests, which elected the Vancouver----223,818.013 + 60.3
40,115 870 31,019,956 + 49.3 359,216,
141,603,864 + 13.3
11.9 160,452,
following new officers: L. C. Brand, President; Henry W. O tta w a --------- 17,058 814 15,243,203 +—4.3
94,990,161 + 4.8
99,234,
10,073 .392 10,530,055
77.738,333 + 4.4
1.1 81.137,
Meyer, Vice-President; John T. Cooper, Secretary; J. S. Quebec..............
H a lifa x ............ 7,657 331 7.840.632 +— 15.3
67,871,512 + 20.2
81,590,
8,056,929
,077
9,285
Ham
ilton____
Moore, Cashier and Treasurer; Fred. W. Gollum, R. I. Cline St. John............ 6,248 150 6,454,628 —3.2 64,066,
58,483,694 + 9.8
74,744,399 + 69.8
081 9,581,691 + 33.6 119,304,
and B. F. Cline, Assistant Cashiers. In the proceedings C algary______ 12,796 822
50,738,437 + 8.1
54.836,
5.0
5,271,849
5,533
London ______
55,395,818 + 46.2
before the Superior Court on the 18th Bank Commissioner Victoria .......... 8,750 ,129 6,873,867 + 27.3 80,990
40,775,157 + 36.7
+ 55.2 55,324
4,464,143
,933
6,927
Edm
onton___
3,769,894
Scherer is said to have testified that there had been but Regina *......... 4,996 ,047 3,769,894 + 32.5 38,543
Not lncl. In to ta l.* "
total,
N
otincl.
In
B
ran
d
o
n
..........
1,400 shares of the capital stock issued by the bank, and Lethbridge . . . 2,013,409 N otlncl. In total.
3,946,385 N otlncl. In to tal.
that at the meeting referred to more than the necessary
Tot. Canada 555,343,875 523,029.825 + 6.2 4,882,700,75314,077,700,878 + 1 9 .7
two-thirds was represented. Newton J. Skinner, the former
President, who sought to resist the efforts of the new inter­
* N ot Included in totals; comparison uncomplete.
ests to take possession of the institution, claims that 2,000
The clearings for the week ending Oct. 29 make quite
shares of stock have been issued by the bank. The newly satisfactory comparison with the same week of 1909, the
elected President, Mr. Brand, states that the officers chosen crease in the aggregate having been 22.8% .
on the 14th are largely temporary, and will be replaced by
Week ending October 29.
permanent officials. President Brand also says that if it is
Clearings at —
Inc. or
found that the capital is impaired it will be made good at
1907.
Dec.
once, and the stock increased to $200,000, so that admission
%
Canada—
may be obtained to the Clearing House. It is also intended, M ontreal ...........................
16.1 29,992,107 29,376.111
,131.841 38.288,073 ++ 23.6
25,285,089 22,393,037
,000.000 27,500,000
it is said, to conduct business from 8 a. m. to 10 p. m. every Toronto................................
12,614,011
.680.374 20,585,412 + 19.9 17,355,939
W innipeg...........................
3,369,514
,542,408 6,293,357 + 51.6 3,406,549
day except Saturday, when the institution will remain open V ancouver.........................
2,848,785
21.0
+
3,151,348
,814.200
O tta w a ............................... 1,335.264 2,172,716 + 7.5 2,104,321 2,245,548
1,843,812
until midnight. The bank began business in Jan. 1909. Q
uebeo----------------------11.3 1.529,269 1,617,660
,650,997 1,482,199 ++ 45.9
During the early part of May the present year it experienced H alifax................................
1,360,993
1,832,136
1,523,680
,225,000
H am ilton...........................
898,691
14.7 1,549,747 1,099,95
,571,893 1,370,891 ++ 49.6
a run which lasted about a day and a half. A suit has been St. John..............................
1,366,160
2,265,901
,389,180
.............................. ,203,390 1,059,120 + 13.6
973,728 1,140,126
brought by Mr. Skinner and other former directors of the Calgary
London .............................
45.7 1,227,383 1,039,342
.781,207 1,222,191 ++ 66.1
691,063
bank against the new board and the State banking officers EVictoria...............................
644,051
,575,616 . 948,806 + 36.0
dm o nto n.........................
831,875
,130,583
to enjoin them from further proceeding in the business of the R e g in a ................................
a
l.
d
In
tot
Not
Include
609,461
B randon..............................
513,806 Not Include d In tot al.
bank and to endeavor to force them to surrender the control L ethbridge.........................
Total Canada................ 131,031,953 106,695,869 + 22.8 89,644,121 80,168,964
to the former management.
__In accordance with plans referred to last April, the assets
and business of the Savings & Loan Society of San Francisco
Clearings by Telegraph— Sales of Stocks, Bonds,
were merged on Sept. 13 with those of the Savings Union The subjoined table, covering clearings for the current week,
Bank of San Francisco, under which title the business will be usually appears on the first page of each issue, but on account
conducted. The Savings Union Bank changed its name in of the length of the other tables is crowded out once a month.
The figures are received by telegraph fromother leading cities.
May, it having previously been the San Francisco Savings
Per
Union.
Clearings—Returns by Telegraph.
C ent.t
1909.
1910.
Week ending Nov. 5.
__The Union Bank of Halifax has terminated its existence,
$1,835,345,293 —10.0
its absorption by the Royal Bank of Canada (head office New Y o rk __ . . . . . __________________ $1,652,382,375
171,938,164 —2.5
167,640.629
______________________________
R ns to n
121,575,285 + 8.5
131,852,144
Montreal) having gone into effect on Nov. 1. Particulars Philadelphia________________________
27,195,294 + 10.4
30,233,233
R
filtim
o
re
______________
______________
of the merger have heretofore appeared in these columns.
234,001,378
+ 6 .0
*247,941,379
C hicago____________________________
66,982,339 —2.9
65,019,716
f T.miifl
_. . . . _______ . . . ____
— The Molson’s Bank (head office Montreal) has issued oNew
16,481,993
19,139,660 —13.9
O rleans.................................................
its statement for the year ending Sept. 30 1910, and marked
—8.7
Cnvon nltlPd S flftVfl
___- ___ $2,311,551,469 $2,476,177,413
533,874.811 —1.3
520,948,378
growth is shown over the figures of the previous year. The Other cities, 5 days......................................
deposits have increased from $27,156,151 to $31,342,439,
$3,010,052,224 —5.7
Total all cities, 5 days.................. ......... $2,838,499,847
038,222,474 —9.1
579,870,287
while the total resources have risen from $38,556,337 to
- 8 .3
rr Atnl oil pitlpo fo r w eek
_______ $3,418,370,134 $3,648,274,698
$44 410,832. The net profits for the twelve months just
concluded amounted to $602,695, this comparing with
Partly estimated.$493,480 for the year ending Sept. 30 1909. During the
Southern
Clearings brought from first page.
present year the bank increased its capital from $3,500,000
to $4,000,000, the new issue of 5,000 shares having been
Ten Months.
October.
sold to Sperling & Co. of ^London at $210 per share. I he Clearings alInc. or
Inc. or
Dec.
premium of $110 per share has been added to the surplus,
1909.
Dec.
1909.
1910.
which has been further augmented by $350,000 transferred
%
$
%
„
$
.801,395,932 + 9.2
from profits, making the fund now $4,400,000. The sum St. Louis. - ­ 335,227 .940 338.644, 934 — 1.0 3 ,059.802,617
696,020,482
+
11.9
779.212,530
—0.5
Orleans 87,386 ,230 87,860, ,443
529,379,146 + 5.4
of $115,188 has been carried forward to the new profit and New
,144 —0.1 557,750,523
Louisville . . 53,085 ,864 53,140
526.197,344
+ 4.7
551,008,027
+
31.3
624
55 066
203,646,000 + 13.2
loss account. William Molson Macpherson is President of H o u sto n __ 72,301 .822 32.701,
+ 35.6 298,462.000
Galveston . . 44.240 ,500 32,357 ,500
289,409,161 + 7.7
—6.9 311.836.074
the bank and James Elliot is General Manager.
Richmond . 30,116 .679 57.003, 880
289,050,493 + 61.8
438,813,089
+
12.2
A tla n ta ----- 63,956 ,601 36,600, ,635
214,370.502
+ 11.1
196 —6.9 203,264,048 220,045,706
— The sixty-first report of the Yokohama Specie Bank, Memphis . . . 34,069 ,080
188,544,432 + 7.8
—
1.0
,113
37
775
,289
37.729
Savannah
.
.
270.419,506
266.397.856
Ltd for the half-year ended June 30 1910, was presented Fort W orth. 34,643 .908 34,007, 378 + 1.9 167,237,862 158,367,669 + 1.5
+ 5 .8
. . 18,439 ,623 15,237, 835 +—21.0
117,022,598 + 6.9
to the shareholders at the half-yearly ordinary general meet­ Nashville
7.9 125.128,140
N orfolk___ 14,700 ,090 15,959 ,441
86.339,846 81,639,118 + 6.8
16,205 ,560 —5.2
ing held at the head office, Yokohama, on Sept. 10. It Augusta___ 15,370 ,178 10,939
85,272,618 + 24.1
9.3 105,850,604
,831 + 10.0
Birmingham 11,954 ,997
70,235,415 69,059,330 + 1.7
showed gross profits for the six months, including 1,167,408 Little Rock. 8,950 .298 9,945 ,804 —+ 23.7
100,872,994 74,010.527 + 36.3
,168 +
8.479
.410
10,488
Jacksonville
01,512,110 + 19.7
10.6 43.551.362
yen brought forward from the last account, of 13,064,236 Chattanooga 7,780 .977 7,073 ,800
69,388,707 60,870,186 + 14.0
10,070 ,934 —3.4
yen. From this, 10,101,059 yen were deducted for interest, Charleston.. 9,728 .235
70,611,407
+ 7.4
—7.4
,960
7,863
,660
7,283
Knoxville . . 6,634 ,837 6,531 ,610 + 15.3 60.949,131 65,740,398
56,659.959 + 7.8
taxes, current expenses, rebate on bills current, bad and Mobile
72,974,008 + 38.0
7.4 100,718,357
10.586 ,764 ++ 10.0
1,396
11,369
Oklahoma
.
.
43.651.362 37,147.561 + 17.2
doubtful debts, bonus for officers and clerks, &c., leaving a M acon......... 7.000 .000 6,363 .784
30,683.029 + 18.5
,390 + 5.8 36,375,525
olum bia... 4,936 .579 4,665
balance of 2,963,177 yen for appropriation. After providing CBeaumont
26,3 1,280 26,244,280 + 0.5
2,699 ,381 + —7.4
. 2,5001.009
30,000,200 + 121.0
66.312,905
127.8
,302
4,061
,422
for an addition of 350,000 yen to the reserve fund and the A ustin.......... 9.241
15.6i9.238 14,867,032 + 5.4
Columb’s ,Ga 2,379i,5l3 2,105 ,226 + 1.1.0 23,865,308
17.012.123 + 40.3
payment of a dividend a,t the rate of 12% per annum, Wllm’tonNC. 3.765 ,999 2.837 ,881 ++32.8
+ 2.2
12,532,917 12,262,776
,286 + 9.1
1,751
.000
1,910
Vicksburg
.
.
5,992,339 + 14.2
4.2
6,843,
54
absorbing 1,440,000 yen, a balance of 1,173,177 yen was Valdosta . . . 1,050 ,000 1,007 ,113
13,100,438
+ 4.0
13,022,325
—
13.6
,085
1,927
,658
1,666
16,073.508 + 28.4
carried forward to the credit of the next account. The G u th rie----- 3,10
•1.010 2,215 ,Sf>8 + 39.9 20,642,103
Jackson,Miss
8,045,758
paid-up capital of the bank is 24,000,000 yen; it has reserve Meridian * .. 1.766 ,600 1,439 ,765 + 22.7 13,736,610
funds of 16,250,000 yen, deposits (current, fixed, &c.) on , Tot. Soutu 953,008,715 913,689,870 + 4.3 8,011,763,411 7,177,207,368 + 1 1 .9
June 30 of 114,423,252 yen and total assets of 228,573,899
* Not included in totals; comparison ncomplete
yen.



a
in­

&c.

NOV. 5 1910.]

THE CHRONICLE
W eek ending October 29.

Clearings at—
S t. Louis .............
New Orleans ___
L ouisville______
H o u sto n ______
G alveston _____
Richmond ____
A tlanta . . -------M em phis ---------Savannah ............
Fort W orth..........
N a sh v ille _____
N orfolk................
A ugusta...............
Birm ingham ____
Little Rock_____
Jacksonville____
Chattanooga . . .
Charleston______
K noxville______
M obile...................
O klahom a______
M acon...................
B e a u m o n t..........
A u stin ...................
W ilmington, N. C
Vicksburg ______

1910.
$
72,360.212
20,872,725
11,956.123
18,293,895
10,906,000
7.500.000
13,817,126
9.584,916
7,126.361
7,658,749
4,013,822
3,705,159
2,966.643
2,640,354
2,154,263
2,341,903
1,727,934
2,210,669
1,643,106
1,048,050
2,425,261
1.400.000
500,00 i
2,188,758
850,746
406,113

1909.

Inc. or
Dec.

S
%
72,720,604
—0.5
21,783,862 —4.2
11,225,607 + 6.5
15,600,000 + 17.3
7.705.000 + 41.5
7,590.842 —12.0
11,929,355 + 15.8
8,331.671 + 15.0
7,870,088 —9.4
8,401,982 —8.8
3,563,106 + 12.6
4.052,834 —8.6
3,745,236 —20.8
2,728,817 —3.2
2,257,022 —4.5
1,929,135 + 21.4
1,487,708 + 16.1
2,034,190 + 8.7
1,640,761 + 0.1
1,351,797 + 21.9
2,593,251 —6.5
1.175.000 + 19.2
538,021 —7.1
1,032,281 + 112.3
656.436 + 29.6
481,162 —15.6

1908.
$

59,316,815
15,327,607
9,107,691
15,957,500
8.467,500
6,120 000
4,827,098
6.035,738
5,144,653
6,328,063
2,461,647
2,693,045
2,432,789
1,984,700
1 790.510
1,425,620
1,401,951
1,398,570
1,396,321
1,299,377
1,312,671
789,184
477,043
062,065
420,000
390,741

1907.
$
58,873,578
17,685,096
12,718,480
14,011,381
7,050,500
6 520,375
5,344,026
5,466,315
6,4/5,404
4,609,676
4,250,319
3,129,848
2,600,466
2,605,587
1,466,430
1,268,509
1,400,000
1.678.062
1,554,054
1.460.062
898,160
800,000
495,000
590,000

337,000
391,000 + 43.2
560,000
Jackson, M iss...
276,955 + 40.2
.............. ..
388,300
M eridian..............
Total Southern 213,847,388 205,093,783 + 4.9 159,275,905 162,949,334
Our usual monthly detailed statement, of transactions on
the New York Stock Exchange is appended. The results
for the ten months of 1910 and 1909 are given below:

Ten Months 1909.
Ten Months 1910.
Descrip­
Par Value
Actual
Aver. Par Value
Actual
Avr.
tion.
or Quantity.
Price.
Value.
Price. or Quantity.
Value.
178,302.309
Stock! Sh’s 143,614,352
/V a l. $12901,594,500 $12539,081,774 97.2 $16343,842.775 $15876,450,426 97.1
R R . bonds $502,539,700 $187,836,660 97.1 $1,084,411,100 $1,053,307,708 97.1
$591,391 109.1
$542,200
Gov’t bds.
$345,700
$368,964 106.7
State b d s.. $37,661,450 $37,559,1211 99.7 $31,717,200 $31,601,505 99.0
$436,989 276.6
$157,650
$2,164,739214.7
$1,008,300
Bank stks.
Total . . $13443,149,650 $13067,011,258 97.2 $17460,673,925 516902,385,079 97.1
The volume of transactions in share properties on the
New York Stock Exchange each month since Jan. 1 in 1910
and 1909 is indicated in the following:

SALES OF STOCK AT TH E NEW YORK STOCK EXCHANGE.

1909.

1910.
M'lh. Number
of
Shares.

Values.
Par.
$

Actual.
$

Number
Shares.

Par.
$

Values.
j Actual.
!
s

Jan _ 24,538,649 2.255,816,775 2,236,641,564 17,275,500 1,609,551.575 1,550.409,801
Feb . 16.012,626 1,423,073,275 1,407,743.928 12,337,199 1,142,192.700 1,082.075.181
M ch. 14,988,179 1.336,803.725 1,327,476,419 13,650,595 1.240.583.900 1.175.469.766
lstq r 55,539.454 5.015,693.775 4,971,861,911 13,263,294 3.992,328.175|3,807.954,748
April 14,089,639 1,279,487,675 1,256,488,974 19,055,618 1,719,193,8001,647,943,217
May 11,918.078 1.055.491.350 1.001.681,480 6,405.230 1.478.017.600 1.410.748,1.14
June 16,292,870 1,452,455.025 1.385.474,622 20,322,230 1,882,256,850] 1,815.478.974
2d qr 42,301.487 3.787.434.0503.648.645.076 55.873.078 5,079,468,250|4.874.171,105
6 m's 97,840,941 8,803.127.825;8.618.506.987 99,136,372 9,071,796.425j8.082,125,853
r 2.806.065 ' .101.202.401*11.100.402,461
Julv 14.254.713 1.284,761.02' ' .235.461.64
Aug. 10,392,788 919.409.950 855.016,748 24,637,783 2,267,638,0602,301,468.294
Sept. 7,673,529 666,140,100 600.999,980 19,981,675 1,771,443,700 1,792,407,611
3d qr 32,321,030 2,870,311,975*2,691,478.376 57,426,423 5,230.374,1505.194,278,366

9 m’s 130161971 11673,439,800 11309.985.363 156562795 14302,170.575| 13876,404.219
O ct . 13,452,381 1,228,154,700 1,229,096,411 21,739,514 2,041,672,200j2,000,046,207
The following compilation covers the clearings by months
since Jan. 1:
.

MONTHLY CLEARINGS.
Clearings Outside New York.
Clearings, Total All.
1909.
1910.
%
1909.
%
1910.
|
$
S
S
S
5,168,090.843 + 14.0
Jan . . 17.143.348,295 14,052,390,538 + 22.0 5.894.272,314
Feb . . 13,111,985,258 11,260,311.084 + 16.4 4,960,845,197 4.372.605,760 + 13.4
M c h .. 15,021,382,183 12 623.772.489 + 19.0 5.975.198.570 5,136,934.369 + 16.3
1st q r. 45,276,715.736 37.936.474.lll!+ 19.3 16,830,315,081 14,677.630,972 + 14.7
April . 14,014,994,640 13.692,120,791 + 2.3 5,673.333.468 5,077,392,114 + 11.3
M ay._ 13,147.7 0,447 13.006,573.040 + 1.4 5,340,7-0.8 0 4.910.322.048 + 8.8
Ju n e .. 13,811,172,046 14.155.364.270 ! — 2 .4 5,446,850,034 6.043,660,966 + 8.0
2d q r. 40,973,927,133 40.854.058.101 | + 0 . 3 18.460.975,292 15.031,375,728 + 9.5
6 mos. 86.250,642,869 78,790,532.212 1 + 9 . 5 33.291,290,373 29,709,006.700 + 12.1
J u ly .. 13,285,479,380 13,469,063,652 ! — 1 .4 5,106,812,583 5,149,321,905 + 5.9
Aug . . 11,508,567,' 94 13,510,914,819 —14.8 5,046,20 ,868 4,824, 77,700 + 4.6
S e p t.. 11,361,667,620 13.542,069,782 — 16.1 5,130,652,674 5,063,692,833 + 1.3
3d q r. 36.155,714,694 40,522,048,253 !— 10.8 15,583,765,125 15,037.492,448 + 3 .6
9 mos. 122406.357,563 119312,580,465 + 2.6 48.875,055,498 44,746,499,148 + 9 .2
Oct . . 13,787,794.077 15,871,302,978 ]—13.1 5,883,705,023 5,818,961,432 + 1.1
Month.

P'- The course of bank clearings at leading cities of the country
for the month of October and since Jan. 1 in each of the
last four years is shown in the subjoined statement:




1223

BANK CLEARINGS AT LEADING
(000,000*
1910. 1909. 1908. 1907. 1910.
omitted.)
$
$
$
8
$
New Y ork................. 7,904 10,052 7,234 8,196 81,435
Chicago ................... 1,163 1,214 1,080 1,169 11,593
B o sto n __________ 742 769 665 759 6,852
Philadelphia............ 648 654 511 672 6,381
St. Louis................ 335 339 282 315 3,060
P ittsb u rg h .............. 225 219 180 241 2,161
San Francisco____ 209 180 171 201 1,917
Baltimore _______ 159 134 109 144 1,323
Cincinnati.............. 103 112 104 119 1,032
Kansas City_____ 248 245 187 179 2,173
Cleveland..............
86
81
66
83
832
New Orleans______ 87
88
68
86
779
M inneapolis............ 135 138 127 151
943
53
Louisville................
53
47
61
558
69
D e tro it..................... 78
57
65
770
56
53
57
539
M ilw aukee_______ 58
43
Los Angeles............ 69
56
50
664
43
38
41
337
Providence ______ 42
72
O m a h a ..................... 75
56
59
701
42
42
Buffalo ..................... 44
37
418
54
46
St. Paul..................... 53
55
470
In d ian ap o lis.......... 37
34
34
36
389
Denver .................. .. 46
45
40
41
408
32
312
Richmond________ 30
28
30
Memphis ................
34
37
26
27
244
Seattle....................... 50
58
43
51
497
Hartford ________
17
13
14
16
181
Salt Lake City___
264
26
24
30
29
Total .................. 12,756 14,863 11,370 12,975 127,213
Other cl ties.............. 1,032 1,008 779 880 8,961
Total all_______ 13,788 15,871 12,149 13,855 136,194
Outside New York 5,884 5,819 4,915 5,659 54,759

CITIES.
' l/v * . U A
J.W09. 1908.
S
$
84.611 61,819
11,394 9,700
6,908 5,906
5,648 4,829
2,801 2,509
1,912 1,714
1,599 1,451
1,183 1,012
1,111 1,007
1,947 1,491
711
620
697
617
796
853
529
470
626
551
492
446
408
546
316
273
494
611
337
381
392
411
342
309
331
380
242
289
220
197
349
473
150
138
271
200
126,813 98,665
8,371 6,361
135,184 105.026
50,565 43,207

1907.
S
76,331
10.451
7,039
6,165
2,684
2,329
1,892
1,255
1,181
1,400
768
781
958
567
601
475
616
334
484
370
396
347
344
268
198
421
159
263
118,979
7,094
126,073
49,742

i^ to n c ta x T iC x im m c r c x a r g u 0 li6 lt^ e w s
[From our own correspondent.]

L ondon, S a tu rd a y , Oct. 29 1910.
Following last week’s advance in the Bank of England
rate of discount from 4% to 5% , the present week began in
gloom. The last settlement of October commenced on
Tuesday, and rates were decidedly higher than at the pre­
vious settlement. Furthermore, there was a failure of a
member of the Stock Exchange who, it is true, did not do
a large business. But for all that the failure was quite
unexpected and came as a very unpleasant surprise upon the
market. Furthermore, there was a sharp fall in Consols,
which at one time went as low as 78%. There has since been
a recovery to 79% . There is much speculation as to the
real cause of the decline. Probably several causes combined. The syndicate of German and Austrian bankers
who are lending to both Hungary and Turkey are reported
to have sold Consols, among other things, to provide them­
selves with funds. It is not probable that those banks held
a very large amount of Consols. But it is quite likely that
they sold some, and that fact may have unpleasantly im­
pressed the market. Another cause assigned was a report
that there was to be very soon a naval loan of 50 millions
sterling. The report has been contradicted by the First
Lord of the Admiralty, and on the fade of it was exceedingly
unlikely. But possibly it did have some effect upon some
members of the Stock Exchange. A third report is that
owners of Consols have got tired of holding and have sold,
partly to provide themselves with funds to operate in the
market, and partly in the hope that they will be able to buy
back cheaper. Other explanations have been in circulation,
but they are mere guesses.
There is nothing in the immediate circumstances to send
up Consols, but at the end of the current financial year—
that is, at the end of March next— everything seems to indi­
cate that the Government will have a very large sinking
fund to apply. If it should use the money to buy Consols
it will be in a position seriously to punish the “ bears.”
The fall in Consols and the tightness of money prevented
much activity in any other department during the greater
part of the week. But for the past couple of days there has
been a change of feeling, and a much more hopeful senti­
ment now prevails. This is due chiefly to the probability
that the tightest period of the season has passed. The Bank
of England has obtained control of the open market, and
many borrowers have had to apply to it for temporary
assistance. In every case it charged as much as 5 % % ,
which inspired the fear that there might be soon another
advance in the Bank rate. Now, however, the confident
opinion in Egypt is that the Egyptian demand is satisfied.
Those in the best position to judge think no gold will be sent
to Egypt next week, for, in fact, the exchange makes ship­
ments unprofitable. Egypt during the season has taken not
far short of nine millions sterling, which is immensely more
than it has ever taken in any season hitherto, the reason
being that the cotton crop was a fortnight earlier than usual,
and that the price was so good that every grower exerted
himself to the utmost to get his crop to market while the
good prices ruled. The price has been very high— $22% per
cantar. Last year, when the crop appeared to be a failure,
the price rushed up at one time to about $24. But with the
exception of 1909 the price has generally been between $14
and $15, seldom rising much above the latter. Hence values
now are, roughly, about 50% above the average for several
years before 1909. Therefore, it is reported from Egypt
that the marketing of the crop is so far advanced that the

THE CHRONICLE

1 224 :

call for gold will probably be ended in two or three weeks.
Later Egypt may be able to part with four or five millions
sterling, which may either be returned to London or sent on
to India.
Up to the present, although trade is very prosperous in
India, the latter has not been an eager taker of gold. But in
a few weeks’ time it will probably either have to “ earmark”
gold in the Bank of England or require the sending of the
metal out to India; quite possibly it may do both. If Egypt
is able to spare four or five millions sterling, it will go far to
satisfy the Indian demand. Indeed, it will more than satisfy
the Indian demand up to the end of the current year. There­
fore, the fear of a further rise in the Bank rate is for the
moment dissipated, and people are beginning to hope that
not only will the 5% rate be sufficient, but that it will attract
much gold from abroad, and that the Bank will, before the
year is out, become quite strong. The Bank of France has,
according to its return on Thursday last, taken foreign bills,
which are everywhere understood to mean English bills, to
the amount of £772,640. It is reported that early next week
a further £300,000 in sovereigns will be received from Paris.
The India Council offered for tender on Wednesday 60 lacs
of its bills and the applications exceeded 561 lacs at prices
ranging from Is. 4 l-16d. to Is. 4 3-32d. per rupee. Appli­
cants for bills at Is. 4 l-10d. and for telegraphic-transfers at
Is. 4 3-32d. per rupee were allotted about 6% of the amount
pplied for, while tenders for bills at prices above Is. 4 l-16d.
were allotted in full.
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:
1906.
1907.
m
1910.
1909.
190S.
Oct. 31.
Oct. 30.
Oct. 26.
Oct. 27.
Oct. 28.

Circulation................. 27,750,635 28,849,840
Public deposits----- 7,173,695 7,118,397
Other deposits......... 40,543,822 40,814,460
Governm’t securities 14,980,568 16,791,788
Other securities___ 28,443,321 26,905,870
Reserve,notcs&coln 22,017,700 21,973,991
Colnitbull.,bothdep 31,318,335 32,373,831
Prop, reserve to lia­
bilities_____ p. c.
46*
45 13-16
Bank rate.........p. c
5
5
Consols, 2 * P- c__
79*
82 7-16
Silver................... .. 25 15-16d. 23 3-16d.
Clear.-house returns 251,347,000 234.470.000
* October 31.

£

28,559,115
7,650,25(5
41,295,693
14,730,533
25,655,405
26,267,226
36,376,341
53
2*
84 ll-io
23:J$d.
197,510,000

29.345,650
7,285,760
44,832,446
14,335,700
34,839,921
20,833,602
31.729,252
40
*5 *
82 3-16
27 7-16d.
276,137,000

The rates for money have been as follows:

Bank of England rate............
Oven Market rate—
Bank bills—60 d a y s_______
—3 m onths___
—4 m onths___
—6 m onths___
Trade bills—3 m onths----—4 m onths___
Interest allowed for deposits—■
By joint-stock banks_____
By discount houses—
At c a ll_______________
7 to 14 days.......................

Oct. 28.
5
4*@ 4*
4Vi® 4 Vi
4«?4 *
3*@ 4
5© 5*
5
3*
3 Vi
3 Vi

£

£

28,842,180
9,602,884
40,094,594
15,956,166
33,421,976
18,15. ,671
28,549,851
36*
6
86*

Oct. 7.
4
3Vi
3 Vi
3 Vi
3%
3A
4
2 *
2 Vi
2 Vi

The bank rates of discount and open market rates at the
chief Continental cities have been as follows:
Oct. 8.
Oct. 22.
Oct. 15.
Oct . 29.
m
B a n k Open B ank Open B a n k Open, B a n k O ven
M
Rates o f
Rate. .M arket.Rate. M arket.R ate. M arket. Rate. M arket.
0 Interest at —
3
3
3
3
2 Vi
2 Vi
..
35
2 Vi
4
5
4 Vi
4 Vs 5
4 Vi 5

5
4 Vi
5
4 Vi
4 3 15-16
4
5
3 Vi
4
5 4 13-16 4 nom.
5 nom. 5
4 Vi 4 * 4 Vi 4
5
5
4*
4*

Hamburg.............. Frankfort ..............
..
Brussels .................
Vienna ................... ..
St. Petersburg----Madrid ................. .. -Copenhagen --------

4 Vi
4
4 Vi

5
4 Vi
4
5
4
4
4 Vi 3 *
4
4
5 nom.
4 Vi 4
4
5

GOLD.—Thc|l>ar gold[for|dlsposal this week amounted to £700,000. India and
the trade absorbed about £200,000 and the balance was secured by the Bank of
England, there being no foreign competition. The rise In the Bank rate last week
has been effective In so far that It has for the moment checked the withdrawal of
sovereigns for Egypt, and has attracted £300,000 in sovereigns from Paris. This
operation, It Is reported. Is the same as has been entered Into In times of stringency
for the past three years, and may be regarded as a loan returnable In three months.
French exchange has been up to 25.29, but the Bank of France seems unwilling to
part with gold to any large extent in the ordinary way, except in payment for grain,
which It Is considered the country will require. India has taken no sovereigns this
week, the high rate of money and the willingness of the India Council to sell their
drafts more freely acting as a deterrent. Since our last the Bank, In addition to the
sovereigns from France, mentioned above, has received £64,000 from Egypt, £35,000
In French gold coin and £439,000 in bars, while withdrawals amount to £1,075,000
to Egypt, £5,000 to South Africa, £12,000 to South America and £7,000 to Gibraltar
Next week we expect £962,000 from South Africa. Arrivals—South Africa, £592,­
000; Bombay. £80,000; Brazil, £18,000; West Africa, £10,000; total, £700,000.
Shipments—-Bombay, £ 141,625.
SILVER.—There has been a reaction In sliver during the past week, and prices
have declined * d . for spot to 25*d., and 5-16d. for forward to 26 1-16<1. Forward
silver, chiefly In consequence of the dearness of money, has commanded a premium of
3-16d., a rate which has not been seen since Feb. 8 1908. The weakness has come
from China, where local speculators, having closed their oversold sterling position,
have turned round and have been buying sterling freely, and the banks that have
supplied this demand have covered by selling silver on this side. This movement
seems for the moment to have stopped, and exchange Is slightly steadier, although
still at a level of 1% below sliver. The up-country demand shows no Improvement,
but In spite of this the demand has come chiefly from India, possibly to replace re­
cent sales to China. This week's shipment to Bombay Is expected to amount to
about £400,000. The stock of Sycee In China has Increased by 20 lacs, and Includ­
ing bars amounts to £2,250.000, and although this seems largo, It Is still about £750,­
000 below the stock at the correspondlng period of last year. At the close the mar­
ket Is quiet. The price In India Is Rs. 66 1-16 per 100 tolahs. Arrivals—New York,
£ 190,000; Mexico, £8,000; total, £ 198,000. Shipments—Bombay, £73,500; Shang­
hai, £10,000; Calcutta, £5,000; total, £88,500.
The quotations for bullion
GOLD.
Oct. 27. Oct. 20.
s. d.
s. d.
Bar gold, fine, oz___ _ 77 9 77 9
U. S. gold coin, o z ...
4 Vi 76 4 Vi
German gold coin, oz. . 76 4 76 4
French gold coin, oz. - 76 5 Vi 76 5 *
London Standard.

Japanese yen---------- . 76 4

4
5
4
5
4
4
4 * 3 Vi
4 3 15-16
5 nom.
4 Vi 44
5

Messrs. Pixley & Abell write as follows under date of
Oct. 20:

76 4

are reported as follows:
Oct. 27. Oct. 20
SILVER.
(1.
d.
London Standard.
Bar silver, flue, o z ... -25 Vi
26 A
“ 2 mo. delivery__ .26 1-16 26 Vi

Cake silver, oz........... .27 15-16 28 5-16
nom.
Mexican dollars......... _nom.

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

IMPORTS.

Seven weeks—
1910-11.
W heat ..................................................c w t.1 4 ,4 5 6 ,2 0 0
B arley ...............................
3 ,6 6 5 ,1 0 0
O a ts__________
1,782 ,5 0 0
P e a s _______________
4 4 0,5 80
B ean s ..........................................................
184,180
In d ian c o r n ____________
7 ,2 4 7 ,2 0 0
F lour .....................
1 ,4 4 7 ,3 0 0

32 7-16d.
Supplies available
286,161,000 September
1):

Oct. 14.
Oct. 21.
5
4
4 * © 4 9-16 3 * @ 3 3-16
4* @ 4 9-16
3 9-16
3 9-16
4%
3 9-16
4*
4*© 5
3*@ 4
4
4*@ 5
3*
2 Vi
3*
2 Vi
3 Vi
2 Vi

[VOL. L X X X XI

1909-10.
1 6 ,1 8 1,8 0 0
4 ,5 7 3 ,4 0 0
3 ,0 0 8 ,3 0 0
20 7,6 80
6 6 9,1 30
6 ,2 3 3 ,8 0 0
1,7 4 3 ,1 0 0

1 908-09.
1907-08.
1 1 ,8 6 4,5 0 0 1 4 ,1 3 3 ,4 0 0
5 ,6 9 9 ,1 0 0 4 ,1 9 4 ,0 0 0
1 ,6 8 6 ,9 0 0
9 6 6 ,2 0 0
191,360
2 7 3,7 50
2 9 0,4 90
167,690
5 ,7 4 6 ,6 0 0 7 ,5 5 7 ,8 0 0
1 ,5 1 3 ,6 0 0 2 ,0 8 2 ,2 0 0

for consumption (exclusive

1910-11.
W heat im p o rted ............................ c w t.1 4 ,4 5 6 ,2 0 0
1,447 ,3 0 0
Im p o rts of Hour.....................
S a les o f h o m e-gro w n _______ _______ 4 ,2 2 7 ,7 4 7

1909-10.
1 6 ,1 8 1 ,8 0 0
1 ,7 4 3 ,1 0 0
3 ,4 1 0 ,2 9 9

of stock on

1908-09.
1907-08
11 ,8 6 4,5 0 0 1 4 ,1 3 3 ,4 0 0
1,513 ,6 0 0 2 ,0 8 2 ,2 0 0
5 ,3 2 1 ,4 2 0 6 ,7 0 5 ,1 9 2

Total ............................................ 20,131,2-17 21,335,199 18,699,520 22,921,092
34s. 4d.
Average price of wheat, week___ 30s.-Id. 31s. 4d. Ills. 2d.
Average price, season..... ............... 30s. 6d. 33s- 4d. 31s. 4d.
32s. 4d.
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
T h is week. Last iccek.
1909.
1908.

Wheat.........................................qrs. 2,360,000 2,220,000
Flour, equal to.....................qrs. 205,000
175,000
Maize....................................
qrs.1,125,000 1,080,000

1,420,000 1,920,000
225,000 200,000
715,000 680,000

English Financial Markets— Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London,
W ed. T h urs. F ri.
M on T u es.
S a t.
W eek ending N o v. 4.
25 *
Silver, per oz....................... d 25 11 16 25 13-16 25 13-16 25 13-16 25*

79*
Consols, new, 2 Vi per cents.. 79*
For account.--------------- 79 Vi 79 *
French Rentes (In Paris).fr 96.97 Vi ___
Amalgamated Copper Co.. 7 1*
71
ft Anaconda Mining Co____ 8 Vi
8*
Atchison Topeka & Santa Fe 107 Vi 107*
Preferred...................... 104
103*
Balt more it Ohio............. 112* 111*
Preferred...................... 93
93
Canadian Pacific................... 201* 204*
Chesapeake it Ohio______ 85*
85
Chicago Great Western___ 25
25
Chicago Mllw. it St. Paul.. 129
127;*
Denver it Rio Grande......... 3 3*
33*
78*
Preferred........................... 7 8*
3 0*
E rie....................................... 3 0*
50*
First preferred — ........... 5 1*
38*
Second preferred............. 3 9*
Illinois Central..................... 136* 136
149*
Louisville & Nashville......... 150
35*
Missouri Kansas & Texas.. 36
6 7*
Preferred______ _______ 68
7 2*
Nat. RR. of Mex., 1st pref 73
.34*
N. Y. Central it Hudson .. 120* 119*
44
N. Y. Ontario it Western.. 44*
102
Norfolk it Western. . ___ 102
92
Preferred...... ...................... 9 2*
Northern Pacific................... 122* 122*
67*
a Pennsylvania ................... 68
78
a Reading............................. 78*
45
a First preferred.-------- 45
49*
a Second preferred.........- 4 9*
Southern Pacific.................. 122 * 121*
26*
Southern Ry______ ______ 26*
61*
61
177*
Union Pacific___________ 179*
9 5*
Preferred--- -------------- 9 5*
80
U. S. Steel Corporation----- 8 1*
121*
121*
19
18*
41
40
70
Extended 43..................... 70
a Price per share. ft£ sterling.

'
1
|
:
:
•
!
1
<

79 3-16
79*
97.25
72*
8*
ion
ion*
112*
93
205*
86
24
128 *
33*
77*
30*
50*
3 9*
137
150
35*
07*{A
72
34*
n43*
o*
102
02
122
07*i f
78*
45
49*
122*
26 H
61
17 9 *
95
8 i*
121
19
40*
70

7 9*
7 9*
97.30
73*
8*
108*
103*
112*
93
205*
86*
25
128*
3 4*
77*
30*
50*
39*
138*
150
35*
6 7*
74
36*
119*
44
102*
92
122*
67 *
78*
45
4 9*
122*
Cl
ISO
9 5*
8l*

7 9*
7 9*
97.37*
73*
9
108*
103*
112*
93
205
86*
25*
129*
34*
77*
3 1*
5 1*
39*
139
151
36*
67 *
/4
37 *
120*
44*
92
123
68*
4ti
4 9*
123*
27
62*
181*
95 H
8 3*
121*
19*
4 0*
0 8*

<
GOLD.—The movements In gold this week have been Important. Egypt has
O
taken £2,205,000, thus bringing her total shipments up to £7,750,000, or £750,000
more than the estimated maximum ot her requirements. Further large shipments
£
are talked ot, the exchange having fallen to 96 13-10. The demand has been un­
£
expectedly rapid, only eight weeks having elapsed since the shipments first began,
~
and It Is expeeted that the time that the gqld will remain In Egypt will be corre­
7n
spondingly short, and that, therefore, some part of the Indian requirements will bo
,
satisfied from that quarter at an earlier date than usual; but In the meantime India
d
continues to take sovereigns from hero and £130,000 has been withdrawn to-day.
Since our last the Bank has received £520,000 In bar gold, while In addition to the
|
Indian and Egyptian withdrawals £8,000 has left for Gibraltar. In consequence of
pi.<
this heavy drain of gold, the Bank of England raised the rate of discount to-day to
5% from 4%, at which rate It has stood since the 29th of September. The bar gold
Q
In the open market amounted to £790,000, and of this India has taken £112,000,
3
Holland about £150,000 and the Bank of England has secured the balance. Next
od
week we expect £591,000 from South Africa. Arrivals—South Africa, £639,000;
Bombay, £71,000; Australia, £3,000; West Indies, £22,000; New Zealand, £65,000
,
total, £790,000. Shipments—Bombay, £114,750; Calcutta, £77,500; Aden, £1,000;
i
total, £193,250.
:
SILVER.—The market continues to show great strength, and prices have ad­
|
vanced 9-16d. for cash and * d. for forward at 26*d. and 26*d ., respectively, this
1
price being last quoted on Feb. 14 1908. The buying has come from both China and
India. In China, exchanges have been firm and have kept close to silver; purchases
:
have been made both here and In Bombay on a considerable scale, and In addition
1
local speculators In Shanghai have been relieved of a large portion of their oversold
:
sterling account. Some portion of the China demand has been spupllcd by the large
121
;
Indian operator, who has sold silver on the seas to a considerable extent. Against
•
iy *
these sales It Is believed that further purchases have been made here, and In addition
!
40*
the bazaars have been large buyers on the Improving tendency of the market. Hu.
I
68*
mors have been current in India that the Government would shortly be In the marketTliese reports lack confirmation, but In view of the excellent crop position and the
probability that the exports will be largely In excess of last year’s figures, It Is quite
probable that the Government may consider this an opportune moment for buying,
especially as they start the season with a reserve of rupees over 10 crores less than
last year. The French Mint has purchased 15,000 kilos during the week for colonial
coinage. At the close the tone Is dtdl and a reaction from present prices seems proba­
ble, but In view of the strength of the Eastern markets the future of silver must still
be regarded as favorable. The Bombay quotation Is Rs. 6 7* per 100 tolahs. Ar­
Breadstuff’s Figures brought from page 1270.— The state­
rivals—New York, £207,000; West Indies, £9,000; Chile, £2,500; total, £218.500.
Shipments—Bombay, £165,000; Calcutta, £65,000; Colombo, £5,000; Fort Said, ments below are prepared by us from figures collected by
£1,000; total, £23G,000.
the New York Produce Exchange. The receipts at Western

$ jommcucta i and iscclla ueaus ileuus

Messrs. Pixley
Oct. 27:

&




Abell wiite as follows under date of

lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:

Nov. 5 1910.

THE CHRONICLE

Receipts at— Flour.
Wheat.
bbls.lOOlbs. bush. 60 lbs.
Chicago___
170,566
460,800
M ilwaukee..
84,000
421,490
D uluth_____
22,195 1,021,328
Minneapolis.
............J 2,243,440
T oledo____
............1
48,000
7,605
96,897
Cleveland _.
1,369
14,156
St. Louis__
50,200
436,994
P e o ria _____
38,4441
25,000
Kansas City.
______I 1,139,200
Total wk. ’10 374,379 5,907,305
Same wk. 3)9 199,861 9,018.584
Same wk. ’08 562,609 5,910,964
Since Aug. 1
1910____ 4,920,740 100,773,906
1909____ 6,561,900 110,938,943
1908____ 6,456,350 108,073,216

13*5

Corn.
Oats.
Barley.
bush. 56 lbs. bush. 32 lbs. bush. 4816s.
1,811,700 1,725,600 851,000
131,080
436,900 316,900
35,356 478,250
246,340
476,360 876,870
60,000
58,500
1 ,0 0 0
27,000
25,318
30,637
52,350
1,209
217,670
430.100
77,000
297,508
237.100 100,800
247,200
128.100
3,069,135 3,605,984 2,703,029
2,196,614 4,347,765 2,667,400
1,375,380 3,366,126 1,865,377

ill

Rye.
qtFa t , ™
p TRADE
OF NEW Y O R K — MONTHLY
bu.56 lbs.
■■EMENT. In addition to the other tables given in
40,000 this department, made up from weekly returns, we give the
18,360
8,882 following figures for the full months, also issued by our New
37,500 York Custom House.
March andise Movemem to Neio York.
5,500
Customs Receipts
Im p orts.
Exp orts.
4,400
at Neu York.
1010.
1909.
1910.
1909.
1910.
1909.
114,642
s
S
•S
S
215,586 January . 78,656,123
$
S
50,812,004 17,545,140 15,795,700
207,077 February 77,826,788 01,789,335
73,074,545 52,644,329 45,319,475
18,778,746
17,775,728
March___ 102,955.233 80.729.503 49,927,253
56,874,809 58,684,184 21,9.88,922 19,064,331
April____ 78,221,201 75,S98,544 52,027,284
46,595,051 71,270,744 22,332,780 1,915,634 M
16,276,428 18,SQ2,924
......... 68,197,815 69.230.504 58,511,642 51,709,272
40,704,144 59,250,912 27,339,732 2,834,279 J u ay
48,571,972
16,846,056
n
e
___
73,252,301 61,704,701 52,404,342 14,909,383
29,691,712 60,464,591 35,126,947 2,866,361 J u ly ____ 72,216,609
17,119,870
17,318,187
69,966,872 68,687,013
50,583,478 16,911,067 20,728,717
Total receipts of flour and grain at the seaboard ports for A u g u st... 81.340,437 68,295,105 56,019,567
65,279,115
49,212,300
20,276.113
September 67,590,619 73,362,959 66,183,119 50,779,347 17,699,966 19,732.558
the week ended Oct. 29 1910 follow:
17,906,343
Flour,
Wheat,
Oats,
Corn,
Barley,
Rye,
Total . . 697,274,697 644,319,809519,171,819 458,076,434 161,595,635jl63,970,544
Receipts at—
bbls.
bush.
bush.
bush.
bush.
bush.
New Y o rk .............. 216,051 874,500 120,375 506,300
5,100
------ ----fyvr* VVJ U11U
tO CJ
B o ston.................... 43,070 384,370
69,773 109,600
P hiladelphia_____ 68,894 519,003
21,000 138,282
3,200
Baltim ore________ 55,973 107,193 105,597
6,022
28,324 months have been as follows:
R ichm ond..............
5,260
27,964
27,656
40,610
2,050
New O rleans*___ 22,037
34,500
3,500 134,000
Bold Movemen at Neio York.
Silver—ATew York
Newport News___
934
Month
Galveston................ . ..........
Vo",666 ' 2 ,666
Imports.
Exports.
Imports.
Exports
2,500
Mobile___________
2,550
1910.
M ontreal_________ 37,538 669,308 171,476
9,833 10,347
1909.
1910.
1909.
1910.
1910.
S
Total week 1910. 448,107 2,608,514 654,685 832,193 18,447 33,574
$
S
S
S
S
Since Jan. 1 1910.15,129,772 59,875,304 34,174,029 42,026,871 2755,764 713 727 January _______ 421,946 714,693 3,113,576
7,843,125
577,95f 3,935,840
Week 1909______ 513,617 4,347,496 589,554 942,535 124,365 22,188 February ............ 1,912,799 819,731 2,786,542 8,818,220 365,045
3,20S,972
Since Jail. 1 1909.13,799,526 73,689,191 34,284,576 39,242,601 5406,603 907,562 M arch.................. 2,425,420 2,728,363 1,644,417 21,173,385 439,488 3,572,439
ril..................
470,490 742,911 36,168,360 6,269,450 503,764 3,442.767
* Receipts do not Include grain passing through New Orleans for foreign ports AMpay.......
............... 493,413 619,503
on through bills of lading.
43.8,769 11,094,572 479,415 3,267,495
J
u
n
o
....................
532,143
127,503 5,233,050 577,053 3,971,397
The exports from the several seaboard ports for the week J u ly ....................... 4,906,446 578,263
470,018 177,490 13,405,800
376,817 4,272,445
August_________ 9,335,389 600,563 276,000
1,007,193 3,931,438
September............ 431,581 481,945 134,500 2,847,470
Corn, Flour,
Wheat,
Oats, Rye, Barley,
335,620 693,062 424,670
bush. bbls.
Exports from —
bush.
bush. bush. bush.
T o ta l________ 20,929,633 7,755,990j44,807,157j77,020,692 5,019,796 30,327,463
775,549 99,520 101,061 53,638
Portland, Me___
285,533 87,965 17,471
BANK NOTES— CHANGES IN TOTALS OF, A N D T N
Philadelphia___ 329,000
1 ,0 0 0
2 0 ,0 0 0
233,920 110,177 26,419
DEPOSITED BONDS, &c.— We give below tables which
New O rleans___
1 1 0 ,0 0 0
5,200 '1 ,550
"1 6 6
show all the monthly changes in bank notes and in bonds
Newport News__
934
Galveston_______
4 ,0 0 0
and legal tenders on deposit. The statem ent fo r October 1909
2,500 2,550 ............
Mobile.....................
2 1 0 ,0 0 0
36,000
830,
Bonds and Legal Tenders
Total week___ 2,460,002 087,162 213,635 55,188
on Deposit for
Week 1909...........3,221,380 513,095 254,831 23,680 Y.666 74",644
Circulation Afloat Under1909-10.
The destination of these exports for the week and
Legal
Legal
July 1 1910 is as below:
Bonds.
Tenders.
Bonds.
Tenders.
Total
-Flour--------------------- IVhealCornSince
$
Since
S
Slncc Oct. 31 1910
3
Week July 1
Week
July
l
Week
July 1 Sept. 3 0 ___ 694,926,070 33,538,463 691,335,845 33,538,463 724,874,308
Exports for week and Oct. 29.
1910. Oct. 2 9 .
1910. Oct. 29.
1910. Aug. 31 . . . 691,961,860. 32,638,029 688,157,577 32,638,029 720,795,606
since July l to—
bbls.
bbls.
bush.
bush.
bush. July
30,188,728 687,132,323 30.188.728 717,321,051
United Kingdom__ 111,128 ,259,665 1,489,205 10,804,878
31___ 689,813,710
210,000
688,458 280 27,501,375
,885,969
684.468,093 27,501,375
C o n tin e n t.............. 40,579 575,157 967,297 6,174,270 316,984 ,114,970 June 30___ 686,974,8.80
6.85,517,013 27,913,720 712,029,468
713,430,733
Sou. * Cent. Amcr. 26,108 325,013
3,500
97,950 102,610 ,378,814 May 31___ 685,671,510 27,913,720
29,477,138
6S2,765,703
29,477,138 712,242,841
April
30___
West Indies.............. 30,759 370,025
24,714 469,325 Mch. 31___ 684,943,460 30,206.728 6S3,254,858 30.206.728
713,461.586
Brit. Nor. Am. Cols. 2,000 48,687
683,675,710
5,000
31,917,510
685,311.486
31,947.510 717.258,996
Feb. 28___ 082,695,850 30.635,348 679,387.520 30,635,348
Other Countries___
61 61,584 ............
7,000
2,854
11,889 Jan.
710.022,868
31___ 681,518,900 28,546,979
28,546.979 709,879,333
T o ta l.............. ..213,635 2,640,431 2,400,000 17,084,098 687,162 5,865,997 Dec. 31 1909 683,437,240 26,952,730 6.81,332,354
6.83,401,523
26,952,730
710,354,253
Nov.
30___
081,6S9,370
26,438,190 680,905,267 26,438,190 707,433,457
Total 1909................254,831 3,117,428 3,221.386 30,441,446 513,095 2,927,169
The world's shipments of wheat and corn for the week
ending Oct. 29 1910 and since July 1 1910 and 1909 are
r tiu u u n v u i c a n i u ia s s OI D O ntlS

655

......

— —

shown in the following:

Wheat.
Week
Since
Oct. 29. July 1.
Bushels. Bushels.
4.184.000 34.307.000
6.248.000 83.640.000
2.600.000 45.536.000
968.000 18.368.000
618.000 11.872.000
536.000 18.688.000
240.000 3,438,000
15424000 215,849,000

Corn.
Since
Week
July 1. Oct.
29.
Bushels Bushels.
48.142.000 642.000
77.872.000 76,000
9.216.000 110.000
12.280.000 4,888,000
3.620.000
;22,304,000

Since
Since
July 1.
July 1.
Bushels.
Bushels.
6.230.000 2,806,000
2.751.000 5.570.000
44.935.000 6.968.000
25.087.000 45,784,000

held against national bank circulation and to secure public
moneys in national bank depositories on Oct. 31.

Bonds on Deposit
Oct, 31 1910.

4% Loan of 1925 .........................
3% Loan of 1908-1918 .........................
2% Consols of 1930...............................
2% Panam a of 1936.........................
2% Panam a of 1938.............................
4% Philippine Loans.............................
4% Porto Rico Loams...........................
3.65% District of Colum bia...............
Various, Territory of Hawaii_______
173,434,000 5,716,000 79,003,000 61,128,000 4%
Philippine Railway..................
Various,
State, city and railroad..
GOVERNMENT REVENUE AND EXPEN DITU RES.—

North Amer.
R ussian___
Danublan . .
Argentine . .
A ustralian)..
In d ia n __ .
Oth. countr’s
T otal.........

U. S. Bonds Held Oct. 31 to Secure—
Bank
Public Deposits
Circulation.
in Banks.
Held.
8
•8
s
21,022,650
4,788,000
25,810,650
15,337,540
4,178,300
19,515,840
580,145,400
24.960,900 605,112,300
51,248,200
2,798,000
54,046,200
27,172,280
1,405,000
28,577,280
4.748,000
4,748,000
1,044,000
1,014,000
872,000
872,000
663,000
663,000
146,000
146,000
2,763,000
2,763,000
$694,926,070 S48,372,200 S743,298.270

—
__-___

Through the courtesy of the Secretary of the Treasury, we
are enabled to place before our readers to-day the details of
„ f
ajiuwa tin.- imiuuiii ui national oanit notes
Government receipts and disbursements for the month of
October. From previous returns we obtain the figures for afloat and the amount of legal-tender deposits Oct. 1 and
previous months, and in that manner complete the state­ Nov. I and their increase or decrease during the month of
ments for the 10 months of the calendar years 1910and 1909. October:

GOVERNMENT RECEIPTS AND DISBURSEMENTS.
1910.
1909.
0 0 0 * omitted.)
Aug. Sept. I Oct. 110 Mos. Aug. I Sept. Oct. |lo Mos.
Receipts—
$
$ I S ' s I §
S IS
s
Custom s........................... 29.279
27.558 25,294i272,112 28,590 27,335 29,279 113,167
Internal revenue*......... 22,963 25,937
263,073 19,71921,877 24,1461 88,304
Miscellaneous............... 2,727 2,489 26,433
3,539 42,038 2,773! 3,130 3,752 14 713
Total receipts............ 54,909 55,984 553266[567,223 51,082 52,348 57,177 218,184
Disbursements— |
Civil and miscellaneous 16.532 14,206 16,249 154,310 14,231 11,847 15,378 57.899
14,723 15,027 14,590 131,255 12,716 14,850 15,190
War
N a v y ................................ 9,924 9.780 12,845 102,734 10,110 10,848 9,582 62,593
Indians.............................. 1,948 1.222 1,475 16,227 1,952 1,089 1,628 41,885
5,014
Pensions........................... 14,977 13,151 11,437 131.087 15,755 13,114 11,850 54,500
Postal dcllclcncy............
2,001 1,000 4,599 3,000, 3,002 3,398
Interest on public debt. 1,901 108 3,264 19,156 1,889 130 3,270 10.899
8,569
Panam a Canal................ 2,537 3,888 2,895 31,360 2,004 3,188 2,784 11,046
Total disbursements. 02,542 59,392 03,755[590,728 01,657 58,068 03,080 253,071
Less repayment of un­
expended balances.. 1,466 2,977 2,300 1,569 1,159, 1,911 1,196
783
61,070 56,415 61,455 589,159 60,498 50,157 61,881 252,288
Total.
1
»
♦ Includes corporation tax of $25,567 for September and $23,612,531 for the
seven months >his year.
Note.—1909 receipts do not Include $30,731,008 prooeeds of Panam a Canal bonds.



National Bank Notes— Total Afloat—
Amount afloat Oct. 1 1910________ .
<5790 7 0 k «nr
Net am ount Issued during October..........
.................................................... 4 0 7 8 7 0 !)
Amount of bank
notes afloat Nov. 1 1910 ............................................. -b«t.-i.tst
7 o< 0 7 « o«o
Legal-Tender
Notes—
4 ,3 0 s
Amount on deposit to redeem national bank notes Oct. 1 1910
S32 638 0 2 9
Net am ount of bank notes issued in.October......................................*90(M34
Amount on deposit to redeem national bank notes Nov. 1 1910............S33,538,463

N ational B a n k s. — The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:

C H A R T E R S ISSU E D TO N A T IO N A L B A N K S OCT. 20 TO O CT. 26.
9,873 —"T h e F irst N ational B ank of W eed,” W eed, Cal. C anltal S’ 5 000
G. X. W endling, Pres.; S. O. Jo hnson . V cc-Prcs ■
E E vans
2d V ice-Pres.; J . M. P o tte r, C ashier.
’
9.874— "T h e F irst N ational B ank of B irm in gham ,” B irm ingham . M ich.
C apital, $2.) 000. Alm eron W h iteh ead , P res., E ugene B rooks,
V lee-Pres.; M innie r . Ja rv is, C ashier
9.875— T he F irst N ational B ank of C lifton. C lifton, Colo. C a p ita l. $25;
000.
A . J . CDc
L ong, P res.; J . F . F lem ing. V lce-Pres.; G. W .
T hom pson,
ashier.
9.876— T he F irst N ational B ank of M ullins, M ullins, S. C. C apital, $25,­
000. B. G. S m ith, P res.; M. C. W oods. V ice-Pres.; F . C halm ers
Rogers, C ashier.
9.877— T he F arm ers’ N ational B ank of R ossvllle, R ossvllle, III. C apital,
$40,000. D . W atso n, P res.; C has. S m ith , V lce-Pres.; J . W . McK ow n, Cashier.

8

1226

THE CHRONICLE

0.878— T he N ational D ank o t O range, O range, Cal. C apital, $50,000.
W m . H . B u rn h am , P res.; D . C. P lx ley , V lce-Pres.; J . R . P o rte r,
Cashier; C. J . O vershiner, A sst. C ashier. Conversion o t th e B ank
ot O range.
0,879— T he F irst N atio n al B ank of V Idalla. V ldalla. G a. C apital, $35,000.
W . O. D on ovan . P res.; Ja m e s M oN att, F irst V lce-P res.; J . W ade
Jo h n so n , Second V lce-P res.; Geo. S. R o untree, C ashier.
fK
L IQ U ID A T IO N .
8,226— "T h e F irst N a tio n a l B ank o t M ad do ck ," M addock, N o. D a k ., w as
placed In v o lu n tary liq u id atio n a t close of business O ct. 4 1910.
7,281— T he O live H ill N atio n al B ank , Olivo H ill, K y ., O ct. 15 1910.
4,300— T he A rlington N atio n al B an k of L aw rence, L aw rence, M ass.,
O ct. 15 1910.
7,966— T h e L ad y sm ith N atio n al B ank , L ad y sm ith , W ls., w as placed In
v o lu n ta ry liqu id atio n O ct. 24 1910.
IN S O L V E N T .
7,751— T he N ational B ank of B eattyv illc, B eatty v llle, K y ., w as placed
____
In th e h a n d s of receiver O ct. 15 1910.
A u c tio n S a les. — Among other securities, the following, not

regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:

Stocks.
800 Brigantine Boh.RR.Co.of N .J.
260 Phlla. & Brigantine UR. Co.
of N. J., pref_______________ $143
260 Phlla. & Brig. UR. Co., com ..
50 Brigantine Bldg. & Im pt. Assn.
50 Dominion Copper Co., L td.,
$10 each...........................................
5 B. F. Johnson Publishing Co.
non-cum. founders' stook___
2 German Amer. Ins. Co______644
140 Conn. Dynamo & Motor C o..
$846 22 Demand note of Conn. $1,800
Dynamo & Motor Co., dated
Aug. 11 1010. with Inf . a t 6%

Stocks.
10 City Club Realty Co.....................$105
500 N. Y. & Cuba Mail & SS. C o.- 15
100 Union Typewriter Co., co m .. 56
100 Gray N at. Telautograph C o .. &H
Bonds.
$50,000 Consol, stock of City of
N. Y. 2 X s for new parks in 23d
& 24th Wards, 1929, M .& N _76^& int.
$52,500 Corp. stock of City of N. Y.
4H s. 1957. M. & N ______X07X & int.
$1,000 Chamber of Commerce of
S tate of N. Y. Bldg. Fund noncum . Income bond......................... 22

D IV ID E N D S .

The following shows all the dividends announced for the
future by large or important corporations:

D ivid en ds announced this week are p rin ted in ita lics.
Per

When

B o o k s Cl osed.

D a y s I nc l us i v e .
Cent. Payable.
Name of Company.
Railroads (Steam).
Atch. Topeka & S. Fe. com .(qu.)(N o.22) X X Dec. 1 Holders of rec. Nov. 4a
Atlantic Coast Line R R ., pref. (q u a r.).. 2KS Nov. 10 Nov. 1 to Nov. 10
Cleveland & Pittsburgh, reg.(guar.) (qu.) X X Dec. 1 Holders of rec. Nov. 10a
Special guaranteed (quar.)___________ 1 Doc. 1 Holders of rec. Nov. 10a
Cripple Creek Central, pf. (qu.) (No. 20). 1 Dec. J Holders of rec. Nov.19a
Erie & Pittsburgh (quar.)______________ I X Deo. 10 Holders of rec. Nov.30a
2 Nov. 8 Sept. 23 to Oet. 24
Grand Trunk, guaranteed____________
First and second preferred....................... 2H Nov 8 Sept. 23 to Oct. 24
Missouri Kansas & Texas, preferred------- 2 Nov. 10 Holders of rec. Oct 26a
N ational Rys. of Mex., 1st pref. (ex tra).. 1 Nov. 10 Holders of w arrant No.6
Norfolk A Western, common (quar.)_____ I X Dec. 19 Holders of rec. Nov.30a
Preferred (quar )________ ___________ 1 Nov. 18 Holders of rec. Oct'31a
Pennsylvania (quar.)______________ ____ I X Nov. 30 Holders of rec. Nov. 5
Reading Co., second preferred__________ 2 Nov. 10 Holders of rec. Oct.22a
Rome W atertown & Ogd., guar., (quar.) I X Nov. 16 Nov. 1 to Dec. 1
Street and Electric Railways.
Connecticut Ry. & I.tg., com. & pf. (qu.) 1 Nov. 151 Nov. 1 to Nov. 15
Nov. 16 to Dec. 1
Federal LlgM & Traci., pref. (quar.)------- I X Dec.
Georgia Ry. & Electric, com. (quar.)__ 2 Nov. 19 Nov. 16 to Nov. 19
H avana Electric R y.. com. & pref. (qu.). I X Nov. 12 Oct. 23 to Nov. 12
. d Lincoln (Neb.) Traction, pref. (quar.).. I X Nov. 1 Oct. 22 to Oct. 31
Melropol. West Side Elev., Chic., pf. (qu.) X Dec. 1 Holders of rec. Nov. 16a
New Orleans Railway & Light, prcf_.
2 X Jan. 16 Jan. 1 to Jan 15
P ortlandR y.,L. A Pow., com.(qu.) (No.6) l Deo. 1 Holders of rec. Nov. 12
Springfield & Xenia R y., pref, (q u a r.)...
Nov. 5 Holders of rec. Oct. 31
4 Nov. 15 Holders of rec. Nov. 1
Tam pa Electric Co. (No. 22)................
Banks.
Mechanics A Metals (quar.)...................
3 Nov. 10 Holders of rec. Nov. 5
Miscellaneous.
Amalgamated Copper (q u a r.).............
X Nov. 28 Holders of rec. Oct. 29a
1 Nov. 19 Holders of rec. Nov. 14
American Chicle (monthly)_________
E xtra _________ _______ _________
1 jNov. 19 Holders of rec. Nov. 14
American Colton Oil, common________
Dec. 1 Nov. 11 to Dec. 1
2
3 Dec. 1 Nov. 11 to Deo. 1
Preferred _______________________
American Dlst. Teleg. of N. Y. (No. 01). 1 Nov. 15 Holders of rec. Nov. la
2 Dec. 31 Dec. 23 to Jan. 1
American Radiator, common (quar.)..
Preferred (quar.)__________________
I X Nov. 15 Nov. 9 to Nov. 15
American Smelt rs Securities, pref. A . . . I X Doc. 11 Nov. 23 to Nov. 30
Nov. 23 to Nov. 30
Preferred B (quar.) (No. 22)---------I X Dec.
American Steel Foundries (q u a r.)...
I X Nov. 15 Holders of rec. Oct 31
Dec. 1 Holders of rec. Nov. 30
American Teleg. & Cable, guar. (quar.).
1 Holders of rec. Nov. 15
2 X Dec.
American Tobacco, common (quar.)—
1 Holders of rec. Nov. 15
7 X Dec.
Common, extra___________________
Bond & Mortgage Guarantee (quar.)----- 3 Nov. 15 Holders of rec. Nov. 5a
21
B ritish Columbia Packers’ Assn., p re f.. 3 X
25c. Deo. 1 Nov. 15 to Dec. 1
B utte Coalition Mining (quar.)______
1 Holders of rec. Nov. 15
Butterick Company (quar.).....................
% Dec.
1/4 Nov. 16 Holders of rec. Oct. 3 la
Cambria Steel (quar.).......................—
Canada Cement, pref. (quar.) (No. 3 ) — I X Nov. 16 Nov. 1 to Nov. 10
Casein Co. of Amer., pref. (qu.) (No. 42). 2 Nov. 10 Nov. 1 to Nov. 9
Consolidated Gas of N. Y. (q u a r.)...
I X Dec. 15 Holders of rec. Nov.16a
3 .Dec. 15 Holders of rec. Nov. 30
Crex Carpet................................. ...............
D amond Match (quar.).........................
I X Dec. 16 Holders of rec. Nov.22a
10 Dec. 1 Holders of rec. Oct. 3 la
Eastm an Kodak, common (extra)__
General Asphalt, pref. (quar.) (No. 14)__ I X Dec. 1
1 Holders of rec. Nov. 19a
General Chemical, compion (a u a r.)..
I X Dec.
Gorham Manufacturing, common (quar.) 2 X Nov. 10 Holders of rec. Nov. 8a
Internat. Harvester, pref. (qu.) (No. 16). I X Dec. 1 Holders of rec. Nov.10a
Ihternatlonal Nickel, common (q u a r.).. 1 Dec. 1 Nov. 12 to Dec. 1
Common (extra)...................................
1 Nov. 12 to Dec. 1
X Dec.
Internat. Smokeless Pow. & Chom., pref. 4 Nov. 15 Holders of rco. Nov. 5a
Kansas City Breweries, pref. (quar.)___ I X Nov. 15 Nov. 1 to Nov. 15
Lehigh Coal & Nav. (quar.) (No. 128)--- 2 Nov. 30 Holders of rec. Oct. 31
M assachusetts Gas Cos., preferred__
2 Dec. 1 Nov. 13 to Nov. 30
Michigan State Telephone, com. (quar.). I X Dec. 1 Nov. 16 to Dec. 1
Preferred (quar.).................................
1 Jan. 15 to Feb. 1
I X Feb.
Milwaukee & Ch cago Brewerlos, L td___ X X b Nov. 15 Nov. 6 to Nov. 15
Mobile Electric Co., pref. (quar.)____
Nov. 15 Holders of rec. Oot. 31
Montreal Lt., H. & Pow. (qu.) (No. 38). X X Nov. 15 Holders of rec. O ct.3 la
National Carbon, pref. (quar.)..............
X X Nov. 15 Nov. 6 to Nov. 15
N ational Lead, pref. (quar.) (No. 76)___ X X Dec. 15 Nov. 19 to Nov. 22
2 Holders of rec. Dec.15a
N orth American Co. (quar.)_________
X X Jan.
Peoples Gas Light & Coke (quar.)___
I X Novi 25 Holders of rec. Nov. 3a
Pressed Steel Car, pref. (qu.) (No. 47)
I X Nov. 2 ‘.i Nov. 3 to Nov. 22
Procter & Gamble, common (quar.)____ 3 Nov. 15 Holders of rec. Oct.3 la
Pullman Company (quar.) (No. 175)___ 2 Nov. 15 Holders of rec Oct. 31a
Quaker Oats, preferred (quar.)_________ X X NOV. 30 Holders of rec. \« v la
Railway Steel-Spri rig. pref. (quar.)__
DCC. 20 Dec. 8 to Dec. 20
Sears. Roebuck &Co., com. (q u a r.)..
i *4
15 Holders of rec. Oct. 31a
Silversmiths Company (quar.)__________ X X Nov.
Nov. 15 Holders of rec. Nov. 10
United Bank Note Corp.. common (quar.) l Nov. 15 Nov. 2 to Nov. 15
United Cigar M frs., pref. (quar.)____
1 Holders of rec. Nov.25a
X X Dec.
U. S. Envelope, preferred___________
le
Nov. 10 Oct. 23 to Nov. 10
United States Express (No. 154)..........
3 Nov. 15 Nov. 1 to Nov. 15
U. 8. Motor, pref. (quar.) (No. 3)___
Nov. 10 Holders of rcc. Oct. 31
U . S. Steel Corp., com. (quar.) (No. 28). IX XX Dec. 30 Dec. 2 to Deo. 14
Preferred (quar.) (No.-38)_i..'___
X X Nov. 2(1 Nov. 1 to Nov. 14
U. S. Telephone, pref. (quar.)................
X X Nov. 15 Holders of rec. Oct. 31
Vlrglnla-Carolina Chem,, com, (q u ar.).. X X : Nov. 15 Nov. 6 to Nov. 15
Warwick Iron & Steel______________
4 Nov. 15 Nov. 1 to Nov. 15
a Transfer books not closed, b Lees income tax. d Erroneously reported in our
last issue os on common, stock. « On oocount of accumulated dividends.




ix

.x

ix

xx

[VO L. LXXXXI,

S ta tem en t of N ew Y o rk C ity C learin g-H ou se B a n k s. —The
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending Oct. 29.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given.
For definitions and rules under which the various items
are made up, see “ Chronicle,” V. 85, p. 836.

We omit two ciphers (00) in all cases.

Banks.
00s omitted.

Capital. Surplus.

$
Bank of N. Y ._ 2.000.0
M anhattan Co. 2,050,0
Merchants’ ------ 2,000.0
Mech. & Metals. 6,000,0
A m erica............ 1,500,0
P h e n ix ............... 1,000,0
C ity .................... 25,000,0
Chemical............ 3,000,0
M erchants’ E x .
600,0
G allatin.............. 1,000,0
Butch. & D rov.
300,0
G reenw ich___
500,0
Am, Exchange. 5,000,0
Commerce_____ 25,000,0
M ercantile____ 3,000,0
500.0
Pacific............. ..
Chatham ______
450.0
200.0
People’s ............
H anover............ 3.000,0
c ltlzen’g C en t.. 2,550,0
N a ssa u ..............
500.0
Market & Fult’n 1.000,0
Metropolitan . . 2,000,0
Corn Exchange. 3,000,0
Im p. & Traders’ 1.500,0
Park .................. 5,000,0
E ast River___
250.0
F o u rth .............. 5,000,0
S econd............ 1.000,0
First .................. 10,000.0
Irving Exch__ 2,000.0
B ow ery______
250,0
500,0
N. Y. C ounty..
750.0
German-Amer.
Chase.................. 5,000,0
100,0
Fifth A venue..
German E x c h ..
200.0
200.0
G erm ania____
Lincoln .............. 1,000.0
1,000,0
Garfield............
250,0
F ifth ...................
M etropolis___ 1,000,0
200.0
West Side..........
Seaboard._____ 1,000.0
L iberty............ 1,000,0
N. Y. Prod. Ex. 1,000.0
S ta te ............. .. 1.000.0
14th Street___ 1,000,0
Coal & Iron----- 1,000,0
Union Exch__ 1,000.0
Totals, Average 133.350.0
Actual figures Oct. 2 9 ..

Loans. 1 Specie. Legals.
Average. Average. Average.
S
S
3
$
3,520,3 19,033,0 3,331,0 949,0
4,184,5 32,000,0 7,744,0 1,568,0
1,789.6 19,023,0 3,949,0 1,135,0
7,988,0 50,232,2 10,882,1 1,128,0
5,874,2 23,277,7 4,048,5 1,879,1
724,9 7,635,0 1,468,0 297,0
31,519,7 170,028,9 39,372,4 4,976,0
6,494,7 28,991,0 5,088,0 1,973,5
582,0 7,289,5 1,770,8 197,6
2,533,2 8,347,3 1,147,5 513,3
630,2
87,4
158,0 2,746,6
832,9 ! ' 7,439,2 1,891,0 204,1
4,439,8 33,969,6 5,171,8 2,782,3
16,497,4 ! 138,420.8 22,325,5 6.620,1
2,726.2 13.994,9 1,537,7 955,5
315,5 504,3
913,1 3,589,2
1,059.7 8,264 7 1,121,0 1.162.1
489,5 133.7
470.3 1,996,1
11,910,1 62,834,4 11,179,2 7,292,0
1,746.71 20,971,9 4,900,0 224,8
690,2 1,206,1
538,2 7,119,3
1,720,7 8,729,4 1,632,8 743,3
1,478,9 12,252,9 3,059,7 237,1
5,254,1 42,037,0 6,615,0 5,141.0
7.515,9 25,223.0 4,101,0 L724.0
12,524,1 79,080.0 19,134,0 1,248,0
317,6 130,9
108,5 1,461,3
5,624,9 25,733,0 3,905,0 2,200,0
2,080.9 12,679,0 2,922,0 194,0
20,589,9 97.090,3 18,758,3 1,780.0
1,655,0 22,464,0 4,794,0 1,423,4
825,0
815,9ii 3,494,0
57,0
1,657,4 7,751,3 1,180,8 590,5
689,5 4,034,3
765,8 225,4
7,706,8 72,170,4 14,674,3 4,981,9
2,109,4 12,996,4 2,488,8 1,171,6
895,2 3,930,6
666,3 505,8
856,5 508,3
1,016,6 4,663,5
1,542,5 14,282,1 3,185,2 681,8
1.197.7 8,052,5 1,985,2 359,7
532,3 375.8
499,9 3,370,2
2,078.2 11,213.5 1,238,8 1.561,6
1,019,2 4.395,0 1,019,0 238,0
1,960,2 20.574.0 4,347.0 1,554,0
2,771,2 17,113,1 3,678,9 932,3
757.1 8,303.4 2,320,7 267,7
782,2 15.318.0 4,366,0 311,0
320,4 5.934.5 1,135,7 585,5
392,1 5.880.0
762,0 749,0
952.4 8.582.0 1,170,2 976,0
194,250.3 1226.043.0 241.390,8 67.243.5
_______1226,631,0 239,280,9 68,391,8

Deposits. Re­
Average. s've.
%
S
16,451,0 26.0
36,400,0 25.5
19,250,0 26.3
47,333,8 25.3
22,S08,8 25.9
6,750,0 26.7
158,550,1 28.0
26,912,0 26.4
7,722,0 25.4
6,462,0 25.7
2,405,3 29.8
8,317,1 25.1
31,865,3 25.0
112,976,0 25.7
9,928,2 25.1
3,026,9 27.0
8.736.6 26.1
2,141,5 29.0
70,115,1 26.4
19,950,7 25.8
7,895,9 24.0
8,695,7 27.3
12,781,7 25.8
48,2 7,0 24.3
22,503,0 25.8
81,358,0 25.0
1,460,0 30.6
23,740,0 25.7
12,201,0 25.5
82,463,9 24.9
23,684,9 26.2
3.626,0 24.3
7,573,8 23.8
3,815,0 25.9
77,021,1 25.5
14,504,1 25.2
4,206.7 25.4
5,322,0 25.6
15,107,0 25.5
8,280,9 28.3
3,594,3 25.2
11,033,4 25.3
4,918,0 25.5
23,513,0 25.0
17,484,0 26.3
10.050,4 25.7
18,721,0 25.0
6.517,5 28.4
5,899,0 25.6
8,362,0 25.6
1192,682,7 25.9
1192,517,1 25.8

On the basis of averages, circulation amounted to $48,104,500 and United States
deposits (Included In deposits) to $1,623,100; actual figures October 29, circulation,
$47,925,500; United States deposits, $1,623,600.
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole 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
following:
For definitions and rules under which the various items are
made up, see “ Chronicle,” V. 86, p. 316.

STATE BANKS AND TRUST COMPANIES.

State Banks Trust Cos. State Banks Trust Cos.
outside of
outside of
in
in
Greater N . Y . Greater N . Y . Greater N . Y. Greater N . Y .
$
$
S
S
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
Loans and Investm ents.. 295,907,200 1,040,657,900 95,609,300 139,299,700
+ 506,200
Change from last week. — 1,631,800 —1,203,200
+ 363,600
S p e c ie ________»________ 47,108,400 116,438,000
Change from last week.
—35,000 - - - - - - - - —920,400
Legal-tenders & bk. notes 24,994,500 13,432,200
Change from last week.
+ 200 __________ .....................
—25,800
Week ended Oet. 29.

145,093,800
Deposits ______________ 339,293,800 1,076,652,700 100,341,500
Change from last week. —2,840,100 — 12,857,000 —481,900 — 199,500
19.885,000
Reserve on deposits......... 93,077,700 135,516,700 19,981,500
—939,400 — 449,900 —564,300 — 787,700
Change from last week.
20,6%
14.4%
15.7%
P. c. reserve to deposits..
28.0%
21.2%
14.9%
Percentage last w eek..
28.1%
15.8%

+ 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 b
law to keep a reserve proportionate to their deposits, the ratio varying accordln
to location as shown below. The percentage of reserve required Is computed o
the aggregate of deposits, exclusive of moneys held In trust and not payable wlthl
thirty days, and also exclusive of time deposits not payable within 30 days, repre
sented by certificates, and also exclusive of depostis secured by bonds of tho State
of New York. The State banks are likewise required to keep a reserve varying
according to location, the reserve being computed on the whole am ount of deposits
exclusive of time deposits not payable within 30 days, represented by certificates
(according to the amendment of 1910), and exclusive of deposits secured by bonds
of the State of New York.
— Trust Cos.— — State Banks—
Reserve Required for Trust Companies
Total
O f Total
Of
and Stale Banks.
Reserve which Reserve tchich
Location—
Required in Carh.Required, in Cash.
M anhattan Borough......................................................15 b 15
25
15%
Brooklyn Borough(wlthout branches In M anhat ). 15% lO ’i
20% 10%
Other Boroughs (without branches In M anhattan). 15%
1 0 ’S, 15%
7X %
Brooklyn Borough, with branches in M anhattan.. 15%
15%
20% 20%
Other Boroughs with branches In M anhattan___ 15%
15%
15% 15%
Elsewhere in State..............................
10%
6%
UK
6%

NOV. 5 1910.]

1237

THE CHRONICLE

The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and UU .4
trust companies in the Greater New York not in the C learing
B anks.
H ouse. These figures are shown in the table below, as are
also the results (both actual and average) for the Clearing­ Boston.
House banks. In addition, we have combined each corre­ Oct. 8 ..
15..
sponding item in the two statements, thus affording an Oct.
Oct. 2 2 ..
aggregate for the whole of the banks and trust companies in Oct. 2 9 ..
I’hila.
the Greater New York.
Oct. 8 ..

We omit two ciphers (00) in all there figures.

Capital
and
Surplus.
$
40.200.0
40.200.0
40.200.0
40.200.0
65.465.0
Oct. 15.. 55.465.0
Oct. 2 2 .. 55.465.0
Oct. 2 9 .. 65.465.0

Loans.

H
|
*
§
6

Specie. Legals. Deposits, a Circi$
latlon.
S
S
$
$
$
s <
206.477.0 22.184.0 4.554.0 250.143.0 8.024.0
169.377.5
207.466.0 22.688.0 4.815.0 258.236.0 8.029.0 165,194,1
207.413.0 23.937.0 5.416.0 255.582.0 8.001.0 194.487.6
206.874.0 24.485.0 5.260.0 246.891.0
7,988,0 105,654,9
257.355.0
70,3: 4.0
301.626.0
10.384.0
160,501,8
257.856.0
71.55 2.0
NEW YORK CITY DANES AND TRUST COMPANIES.
308.493.0 16.356.0 139,370,0
254.305.0
71.55 3.0
305.620.0
15.902.0
160,592.5
253.155.0
69.55 0,0
301.249.0 15.957.0 141,157,4
Clear.-House Clear.-House Slate Hanks & Total of all
Hanks.
Trust Cos. not Banks & Trust
Week ended Oct. 29.
Hanks.
a Including Government deposits and the Item “due to other banks." At Boston
ActualFlgures Average. In C.-H. Aver. Cos. Average.
Government deposits amounted to $3,042,000 on Oct. 29, against $3,044,000 on
Oct. 22.
S
S
S
5
Capital as of Aug 3 1 .. 132,350.000 132,350,000
74,631,000 206,981,000
Im p o rts a nd E x p o rts fo r the W e e k ,— The following are
Surplus as of Aug. 3 1 .. 193.297,900 193,297,900 180,661,300 373,959,200 the imports at New York for the week ending Oct. 29; also
Loans and Investments 1,226,631,000 1,226,043,000 1,132,540,600 2,358,583,600 totals since the beginning of the first'week in January.
FO REIG N IMPORTS AT NEW YORK.
Change from last week —4,538,700 —6,119,100 — 1,272,900 —7,392,000
D ep o sits__________ 1,192,517,100 1,192,682,700 a l,080,958,300 2,273,641,000
For week.
1908.
1910.
1909.
1907.
Change from last week —7,414,700 —8,993,000 — 1,853,900 — 13,846,900
D ry goods........................... ...... $2,733,044 $3,239,516 $2,812,145 $3,195,714
241,390,800 123,153,900 364,544,700 General
S p ecie______________ 239,280.900
m erchandise............. 11,984,615 16,822,661 10,883,915 11,385,972
+ 99,100 —3,390,400
Change from last week — 1,222,200 —3,489,500
T o ta l.................. ................... $14,717,659 $20,062,177 $13,096,060 $14,581,686
Legal-tenders................ 68,391,800 67,243,500 622,082,000 89.325,500
Since January 1.
+ 904,800
Change from last week + 1,341,200
—60,300
+ 844,500 Dry goods . ________ __ $130,094,039 $139,414,588 $101,899,904 $155,724,942
Aggr’te money holdings 307,672.700 308,634,300 Cl45,235,900 453,870,200 General merchandise.............. 026,705,441 577,811,723 417,887,438 564,338,042
Change from last week —2,881,000 —2,581,700
+ 38,800 — 2,545,900
Total 43 weeks__________ $750,859,480 3717,226,311 $510,787,342 $720,062,984
Money on deposit with
23,555,300 23,555,300
The following is a statement of the exports (exclusive of
Change from last week
—691,600
—691,600 specie)
.....................
from the port of New York to foreign ports for the
Total reserve-.............. 307,672,700 308,634,300 168,701,200 477,425,500 week ending Oct. 29 and from Jan. 1 to date:
—652,800 —3,237,500
Change from last week —2,881,000 — 2,584,700
EXPO RTS FROM NEW YORK FOR TH E W EEK .
Percentage to deposits
25.90%
25.83%
17.3%
requiring reserve----1910.
1909.
1908.
1907.
25.92%
25.91%
17.4%
Percentage last w eek..
$18,639,614 $16,039,359 $8,495,520 $12,653,728
10,463,625
9,543,425
541,786,803 492,880,838 517,614,116 520,269,343
Total 43 weeks__________ $560,420,417 $508,920,197 $528,109,630 $532,923,071
4 - Increase over last week.
— Decrease from last week.
aT hesoaro the deposits after eliminating the Item, “ Due from reserve depositories
and other hanks and trust companies In New York City”; with tills Item Included,
The following table shows the exports and imports of
deposits amounted to 51,190,863,700. a decrease of $13,188,800 from last week.
In the case of the Clearing-House banks, the deposits are “net" both for the average specie at the port of New York for the week ending Oct. 29
and the actual figures, ft Includes bank notes. cO f this am ount S tate banks and since Jan. 1 1910, and for the corresponding periods in
held $15,365,700 and trust companies S129,870,200.
1909 and 1908:
The averages of the New York Clearing-House banks
EXPO RTS AND IMPORTS OF SPECIE AT NEW YORK.
com bined with those for the State banks and trust companies
Imports.
Exports.
in Greater New York outside of the Clearing-House compare
dold.
as follows for a series of weeks past:
Week. SlnceJan.X. Week. SlnceJan.X.
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
$32,150,000
S13.469.736
GREATER NEW YORK.
$9,650 3,491,695
We omit two ciphers in all ihese figures.
314
4,455
West Indies__________ ____
501,473
$1,700 3,292,817
3,050
242,294
3,329
Tot. Money Entire Res. Mexico _____________________ 1 __
Week Loans and
126,000 0,493,766
Legate. Holdings. on Deposit.
31,631 1,946,594
Ended. Investments. Deposits. Specie.
41,900
68,758 1,283,689
S
S
S
S
S
S
Total 19 10 ........................................ $126,700 $44,982,938 $107,018 $20,935,795
91,463,2 512,484,5 537,996,1
Aug. 2 7 .. 2,346,781.2 2,331.878,3 421.021,3
Total 1909........................................... 1,640.000 78,964,092 107,737 7,507,327
3 .. 2,348,900,4 2,326,474,6 412.681,1 89,655,0 502,336,1 628,336,2
Total 1908____ ________________
50,000 47,097,926
79,409 15,091,297
Sept. 10.. 2,355.593,2 2,320,771,3 401.048,5 88.124,7 489,173,2 516,45.1,2
Sept. 17.. 2,367,842,8 2,328,750.6 397,232,0 88,597,9 485,829,9 513,289,9
Silver.
Sept. 2 4 .. 2,375,411,8 2,329.379,2 392,538,2 88,911,4 481,449,6 508,147,8
$510,233 $32,633,991
$13,344
Oct. 1 .. 2,388,453,3 2,330,077,9 382,271,2 89,226,2 471,497,4 497,810,3
82,400 2,029,100
1,635
Oct. 8 .. 2,387,881,5 2,316,630,7 374,198,8 87,948,8 462,147,6 489,103,9 Germany ..............................................
658,008
13,125
Oct. 15.. 2,382,131,5 2,306,865,9 371,151,9 88,364,2 459,516,1 484,935,4
69,742
“ $598
71,839
““ 485
Oct. 2 2 .. 2,365,975,6 2,287,487,9 367,935,1 88,481,0 456,416,1 480,663,0 Mexico _______ __________________
72,990 1,423,387
Oct. 2 9 .. 2,358,583,6 2,273,641,0 364,544,7 89,325,5 453,870,2 477,425,5
1,808 1,136,099
"47,825
45,051 1,286,635
6,505
R e p o r ts o f C learin g N on -M em b er B a n k s . — The following
Total 1910_____________________ $602,118 $35,345,171 $120,447 $3,940,064
is the statement of condition of the clearing non-member
540,064 37,441,388 236,215 4,235,599
Total 1909._________ __________
banks for the week ending October 29, based on average
Total 1908............................... ........... 012,820 35,080,971
73,597 3,219,705
daily results:
We omit two ciphers (00) In all these figures.
Of the above imports for the week in 1910, $3,650 were
American gold coin and $273 American silver coin. Of
Loans,
Legal Deposit with
Dlsc’ts
Tender
the exports during the same time, $126,700 were American
and Specie. and Clear­ Other
Capi­ Sur­
Banks.
Net
Bank
plus. Invest­
ing
tal.
Banks, Deposits. gold coin a n d ___ were American silver coin.
Notes. Agent. ike.
ments.
N. Y. City
Boroughs of
S
S
$
$
$
t
S
I t an. A Hrx. $
50,0 175,0 16,0 1,288,0
Wash. Ilgts 100,0 270,6 1.282,0 139,0 162,8
04,9 201,1 1,280,0
Century __ 250.0 160,2 1,343,4 27,0 484,8
717,9 269,0 7,164,0
400,0 362,5 5,519,5 820.0
925,0 70,0 7,087,0
Columbia . . 300,0 751,7 6,011,0 625,0 580,0
L et us send you ou r circular describing 110 IS.SUES of listed R ail­
87,4 117,0 __ 1,153,0
Fidelity . . . 200,0 175,5 1,119,5 87,1 320,2
road a n d In d u strial Stocks.
3,562,0
Jefferson__ 600,0 521,3 3,086,4 203,9 28,2 262,2 371,9
86,7 3,306,1
Mt. Morris. 250,0 313,8 2,605,9 4 4,2 589,7 329,8
5,3 4,208,0
469,5
M utual___ 200,0 371,3 3,606,8 37,3
627,0 __ 5,215,0
Plaza ____ 100,0 453,8 4,313.0 319,0 428,0
43 E X C H A N G E P L A C E . --------N E W Y O R K .
51,3 245,6 __ 2,017,7
23r<l W ard. 200,0 106,5 1,803,6 155,4 740,8
C h ic a g o , III.,
B o s t o n , M a s s .,
A lb a n y , N . Y .
260,3 5,284,4
Yorkvlllo .. 100,0 451,8 4,159,2 50,5 91,0 233,5
25,0 2,622,0
NowNethTd 200,0 265,5 2,393,0 274,0 43,6 267,0
M em b ers N ew Y ork Stock E xch a n ge
83,6 __ 1,343,5
B a tfP k N a t 200,0 156,8 1,532,6 217,9 39,8 130,6
19.3 2,137,2
Aetna N at. 300,0 317,7 2,122,3 484,7
Borough of
Brooklyn.
Broadway . 200,0 513,3 3,388,3 27,4 474,9 322,5 247,7 3,878,0
Mfrs’ N a t.. 252,0 831,9 5,508,5 468,1 192,1 776,7 151,7 5,992,0
Mechanics’ . 1,000,0 815,4 11,364,4 277.3 1,273.9 1,337,0 236,6 14,357,3
M e m b e rs N ew y o r k S to c k E x c h a n g e .
6,815,0
Nassau Nat. 750,0 1,010,4 0,761,0 576,0 301,0 1,071,0
5 N A SSA U S T R E E T ,
’
THE ROOKERY.
590,0 166,0 4,963,0
N at C ity ... 300,0 601,8 3,800,0 05,0 084,0 209,7
N
E
W
Y
O
RK
CH ICA G O
109,7
105,2
200,0
139,0
2,203,9
131,9
2,560,6
North Side.
First N a t.. 300,0 011,0 3,347.0 33:1,0 74,0 379,0 38,0 3,029,0
Jersey City.
B A N K IN G a n d E X C H A N G E of every description In con nectio n w ith
5,300,2 286,8 300,5 2,370,8 144,0 6,837,1
First N a t.. 400,0 1,251,8
Ilud.Co. Nat 250,0 751,9 3,083,6 154,5 50,0 260,2 159,3 2,711,5
EXPORTS & IMPORTS
302,6
36,8
15,2
394,5
2,083,7
130,7
200,0
2,170,7
Third N a t..
'H oboken.
220,0 623,3 3,220,5 133,9 35,9 144,4 121,9 2,919,3
71,7 191,6 3,015,0
Second Nat. 125,0 245,9 2,797.8 110,4 77,0
•0 W a ll S t.. N ew Y o r k .
C A P I T A L & S U R P L U S . $ 6 ,5 0 0 ,0 0 0
93,937,1 6,553,7 7,469,3 12,484,2 2,906,3 106908,5
Tot. Oct. 29 7,497,0 12,409,2
B R A N C H E S a n d A G E N C IE S th ro u g h o u t th e W O R L D .
7.497,(1 12,469,2 94,500,4 6 60 ),2 7,444,7 12,992,5 2,991,6 107999,8
Tot. Oct. 15 17,497,0 12,469,2 93,945,8 6,306,1 7,730,2 12,526,1 i 3,260,5 107630,4

1

gaulituo and financial.

Railroad and Industrial Stocks
Spencer Trask & Co.

W H I T E , W E L D & CO.

International Banking Corporation
T H E IN T fc.liN A T IO N A L B A N K

B o sto n and Philadelphia B a n k s .— Below is a su m m ary o f
the w e e k 'y totals o f the C learing-H ouse banks o f B o s to n
and P h iladelp h ia.




of N . Y . S ta te .
60 W a ll S t ., N ew
A ccounts In v ited . In te re st paid on T erm D eposits.

O rg a n iz e d u n d er the la w s

& S3S5IB 3 S H 3 & B lT H O M A S

H . H U B B A R D , P resid en t.

Y rk .

1228

THE CHRONICLE
M

m x k itv s ’

Wall Street, Friday Night, Nov. 4 1910.
The Money Market and Financial Situation.—A review of
Stock Exchange operations this week would be largely a
repetition of the recent history of that institution. Except
for the activity in a few speculative issues and the more or
less cautious ventures of the board room traders, there would
have been practically “nothing doing.”
Interest in the State election increases as Election Day
draws near. The wagers point to the election of the Demo­
cratic candidate for Governor, and the strength of the stock
market, in face of that circumstance, indicates the desires
of financial interests in that regard. No doubt the passing
of Election Day will result in more activity, whatever may
be the effect upon prices.
The news of the week has been rather meagre. Reports
of railway earnings show in many cases, as was expected by
careful students of the situation, a falling-off in the volume
of traffic, and until crop-moving becomes more general
there seems to be little prospect of a change in this particular.
Last week's bank clearings showed a falling off of fractionally
over 10%, and this week’s returns, which are delayed on
account of the storm, will doubtless make a similar exhibit.
The money market has been firm all week, call loansonat
least two days reaching 4)^% and to-day getting up to
while time-loan rates have also risen to the highest
of the season. The Bank of England, on the other hand,
shows a substantial increase in gold holdings, a heavy re­
duction of loans,and therefore a larger percentage of reserve.
The Bank of France, however, makes a less favorable report
than last week, and, as we then remarked, the foreign situ­
ation as a whole has not materially changed.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 334 to 4%%. To-day's rates on call were 3M@424%.
Commercial paper quoted at 534j@6% for 60 to 90-day en­
dorsements, 5%@6% for prime 4 to 0 months’ single names
and 6)4@ 6^% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £937,125 and the percentage
of reserve to liabilities was 49.11, against 4G.11 last week.
The rate of discount remains, unchanged at 5% as fixed
Oct. 20. The Bank of France shows a decrease of 17,425.000
francs gold and an increase of 3,200,000 francs silver.
_______

NEW YORK CITY CLEARING-HOUSE BANKS.
1910.
1909.
1908.
Averages for Dlf/cronces Averages
for Averages for
teeek ending
week ending teeek ending
from
Oct. 29.
previous week.
Oct. 30.
Oct. 31.
S
S
C apital................ .
132,350,000
127 ,350,000 120 ,350,000
Surplus.................
193,297,900
177
103 720,100
Loans and discounts__ 1,226,043,000 Dec. 6,119,166 1,233 ,371,800
.90-4,900 1,333 305,000
Circulation....................
48,104,500 Dec.
23,100 53 166,300 52 ,983,500
N et deposits_________ 1,192,682,700 Jlec. 8,993,000 1.231 ,014,300 1,411 416,300
U. S. dep. (Incl. above)
1,623,100 Inc.
5,700
1 ,073,400
9 ,253,000
Specie ..................
241,390,800 Dec. 3,489,500 251 ,359,500 305 .102,400
Legal tenders___
67,243,500 Inc. 904,800 71,,053,900 81 280,800
Reserve held......... ........ 308,634,300 Dec. 2,584,700 322, 413.400 386 443,200
25% ol deposits............ 298,170,675 Dec. 2,248,250 308, 503,575 352 854,075
Surplus reserve......... 10,463,625 Dec. 336,450 13.909.S25 33,589,125
Surplus, excl. U. S. dep 10,869,400 Dec. 335,025 14,328,175 35,902,375
Note.—The Clearing House now Issues a statement weekly showing the actual

[ V o l . LXXXXI.

St. Louis, 10c. per $1,000 discount. St. Paul, 50c. per $1,000
premium. Charleston, buying, par; selling, l-10e. per
$1,000 premium. Montreal, par.
State and Railroad Bonds.—Sales of State bonds at the
Board $6,000 New York Canal 4s at 104% to 104%.
The daily transactions in railway and industrial bonds
are again reduced to an average of less than $2,000,000 par
value, and the market has been unusually steady. In several
cases closing prices are identical with those of last week, and
where changes have occurred they are very generally limited
to minor fractions.
United States Bonds.—Sales of Government bonds at the
Board only $3,000 4s, coup., at 115%. The following are
the daily closing quotations; for yearly range see third page
folloioing.
2s,
2s,
3s,
3s,
4s,
4s,
2s,
2s,

Interest
Periods
1930 ____ ___ registered Q—Jan
1930_____ _____ coupon Q—Jan
1908-18 . . . __ registered Q—Feb
1908-18 . . . .......... coupon Q—Feb
1925 _____ ___ registered Q—Feb
1925______ ______Coupon Q—Feb
1936.Panam a Canal regis Q—Feb
1938-Panam a Canal regisjQ—Nov

Oct.
29
*100%
*100%
*101%
*101%
*115
*115%
*100%
*100%

Oct.
31
*100%
*100%
*101%
*101%
*115
*115%
*100%
*100%

Nov.
1
*100%
*100%
*101%
*101%
*115
115%
*100%
*100%

Nov.
2
*100%
*100%
*101%
*101%
*115
*115%
*100%
*100%

Nov.
3
*100%
*100%
*101%
*101%
*115
115%
*100%
*100%

4
*100%
*100%
*101%
*101%
*115
*115%
*100%
*100%

* This Is the price bid a t the morning board; no sale was made.

Railroad and Miscellaneous Stocks.—The stock market
has been dull and irregular throughout the week. Prices
declined on Monday and were relatively steady on Tuesday.
Wednesday’s market was somewhat firmer, and on Thursday,
when the volume of business was nearly twice as large as on
Tuesday (it was still larger to-day), there was a decided ad­
vance in prices. The latter movement was led, as such
movements so frequently are, by Union Pacific, Reading
and United States Steel, all of which have covered a range
of from 3 to 4 points. Average range about 2 points and
net changes about evenly divided between higher and lower.
Cleveland Cincinnati Chicago & St. Louis has been excep­
tional in a drop of over 12 points, about half of which it re­
covered. Canadian Pacific has been notably strong, ad­
vancing over 4 points and selling at the highest in its history.
In sympathy with this movement the “Soo Line” shares
advanced 5% points. On the other hand, New York Cen­
tral has declined 1% points, Baltimore & Ohio and Wabash
preferred a point, while Southern Pacific and Rock Island
are nearly a point lower.
International Harvester has been conspicuously active
to-day and advanced 4 points, one of which was lost.
Copper stocks have been strong on the favorable report.
For daily volume of business see page 1238.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:

STOCKS.
■ Sales 1
Range for Week.
Range since Jan 1.
Week ending Nov. 4.
Week. Lowest.
Lowest. Highest.
Highest.
Amer Brake Shoe&Foun 2 0 0 ; 90 Nov 4 91 Nov 4 83% Oct 91 Nov
P referred....................... 200 127 Nov 3 130 Nov 3 119 July 130 Nov
Batopllas Mining......... .... 100 S2% Nov 1 S2% Nov
1 82 Sept 83% Jan
Buff Rochester & P itts. 100105 Oct 31 105 Oct. 31 95 May 106 Jan
Cent & South Amer Telg
20 119 Nov 1 119 Nov 2 110 Aug 120 Jan
Col & Hock C&I tr rects 1,110 4 Nov 2 5 Oct 29 4 Sept 6% Oct
10 I duPont Powd, p ref..
50 83 Nov 4 83 Nov 4 83
88 Jan
Gen Chemical, pref.........
2 103 Nov 4
Nov 4 101% June 107 Mch
Lackawanna Steel._____ 100 39 Nov 2 103
39
2
Nov
34
Oct
Ontario Silver M ining.. 400- 2% Nov 1 2% Nov 2 2 July 3% May
Feb
Rutland, p re f... ._ _ 635; 40 Oct 29 44 Nov 1 28
44
St
Jos & Gd Isl, 2d pref. 100 39 Oct 31 39
31
38
Feb
10
condition of the banks on Saturday morning as well as the above averages. These Sears,
Roebuck & Co__ 1,300x169 Nov 2 174% Nov 4 150 June 174% Nov
figures, together with the returns of separate banks, also ho summary Issued by the

State Banking Department, giving the condition of State banks and trust companies
not reporting to the Clearing House, appear on the second page preceding.

Foreign Exchange.

— Easier discount rates in London and
firmer money here operated to cause a decline in sterling ex­
change this week. The undertone at the close to-night was
quite weak.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 82)^ for 60-day and 4 86)^ for sight. To-day’s
actual rates for sterling exchange were 4 8190@4 82 for GO
days, 4 8575@4 8585 for cheques and 4 8630@4 8640 for
cables. Commercial on banks 4 81)<t@ 4Sl)^ and docu­
ments for payment 4 81 J^@4 81%. Cotton for payment
4 80% @ 4 81% and. grain for payment 4 81%>@4 81%.
To-day's (Friday’s) actual rates for Paris bankers’ francs
were 5 22% less 1-16@5 22% for long and 5 20 less l-3 2 @
5 20 for short. Germany bankers’ marks were 94% @ 94 5-16
for long and 94 15-16 less l-32@ 94 15-16 for short. Amster­
dam bankers’ guilders were 40.22@40.25 for short.
Exchange at Paris on London, 25f. 28c.; week’s range
25f. 28%c. high and 25f. 25% c. low.
Exchange at Berlin on London, 20m. 48% p f w e e k ’s
range, 20m. 48%pf. high and 20m. 47pf. low.'
The range of foreign exchange for the week follows:

Sterling, Actual—
Sixty Days.
II gh for the week...................4 82%
Low for the w eek..................... 4 81%
Paris Bankers’ Francs—

Cheques.
4 8580

4 8615

Cables.
4 8635

4 8065

High for the week_________ 5 21% less 1-16 5 19% less 1-32 5 18% less 1-16
Low for the week......................5 22% less 1-16 5 20 less 1-16 5 19% less 3-32
Germany Bankers' M arks—
High for the week................... 94 7-16
95
95% less 1-32
Low for the week__________ 94%
94%
94 15-16
Amsterdam Bankers' Guilders—
High for the week................... 40.02
40.27
40.32
Low for the week..................... 39.94
40.22
40.27
The following are the rates for domestic exchange at the
under-mentioned cities at the close of the week: Chicago,
par. Boston, par. San Francisco, 60c. per 81,000 premium.
Savannah, buying, 3% c. per 81,000 discount; selling, par.



Outsido Market.—The week in outside securities opened
dull with a fractionally lower range to prices, though after
this a firmer tendency ruled generally. Butte Coalition ad­
vanced from 19 to 21. Chino eased off from 20% to 20%,
sold up to 22%, then dropped to 21%. The close to-day was
at 21%. First National Copper weakened from 3 7-16 to
2%. Giroux sold down from 7 9-16 to 7% and up to 8,
the close to-day being at 7%. Greene-Cananea eased off
from 7% to 7 and advanced to 8, finishing to-day at 7%.
Inspiration Copper was off at first from 9% to 9, but im­
proved later to 9 9-16. Miami rose from 19% to 20%.
Ray Central Copper was exceptionally active, and after
weakening from 1% to 1 5-16 sold up to 1 13-16 and ends
the week at 1%. Ray Consolidated after the loss of about
half a point to 20, ran up to 21%, the final quotation to-day
being 21%. La Rose Consolidated continued a feature,
improving from 4% to 5, though reacting to 4%. Nipissing
ranged between 11% and 11. Trading in miscellaneous
securities was a little more active at advancing values.
American Tobacco went down 2 points to 426 and advanced
to 435. The regular quarterly dividend of 2%% and 7%%
extra was declared. American Writing Paper preferred sold
up from 25 to 28% and reacted to 28. Houston Oil common
gained about 2 points to 9%, then fell to 8%. The pre­
ferred went up from 42 to 47 and down to 45. Interconti­
nental Rubber, after the loss of a point to 26, advanced to
28%, to-day’s business carrying the price to 29%, the close
being at 29%. Standard Oil at first declined from 611 to
610, but subsequently sold up to 617, with sales to-day up
to 620. United Cigar Mfrs. common weakened from 61 to
60%, but recovered to 61%, with sales of odd lots during
the week at 62%. In bonds Western Pacific 5s fluctuated
between 94% and 93%.
Outside quotations will be found on page 1238.

New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
OCCUPYING TWO PAGES

Sales of
Range Since January 1.
STOCKS
the
N EW Y O RK STOCK
On basis of 100-share lots
EXCHANGE
Week
Shares.
lowest
Highest
R ail.oads
*25 35
A nn A rb o r____________ 25 Feb 25 36 M ch
*25 35 *25 35 *25 3 5 *25 35 *25 35
70 *65 70
fV Do p re t____________ 48*, F eb 23 72*2 Mch 8
*05 70 *05 70 *05 70 *65 70 *05 10534
2l0334 10434 .200 .vtch T opeka & S anta Fe 9034 J ’ly 26 124%
Ja n 0
104% 10434 105*4 IOU4
lO-Ri 104% 10312 104*4 10334
10134 1013.1 * 1011.1 102 10134 10134 10134 10134 101*2 101*2 101% 1013S .150 Do p re l_______________ *97 J ’ly 1 104% Ja u Jo
800 A tlantic Coast lan e R R ._ 1 0 2 % J ’ly 2 6 137*2 Jan 6
*117i.i 11812 11734 11734 *117 118% 11838 118% 118*2 118% 118*2 119
108% 108>2 108*2 109 lOSTj 109 *108% 109*4 108'8 109 108*8 109*4 .800 Hattlm orc & O hio______ 100*4 Sen 6 119*3 Ja:i b
*90 91
Do p re t____________ 87*4 Sep 10 94 j a t i
91 91 *90 91 *90 91 *90 91
91 91
200
707s 77
77 77*4 7734 78
77 771,1 T6% 77
77*2 78% ,050 Brooklyn R apid 'ita n s 't- 08*- Feo / 82% May 1
19712 19814 198*4 200*8 200% 2023S 200 201 199% 200*% 198 199% ,035 / Canadian Pacific_______ 176’j Feb 8 2 0 2 * 3 N ov 1
*65 0S12 *65 68*2 *02% 68% *02 08% * 02*2 6 8 * 2 *62 72*4
VCanada S o uthern______ 60*2 J ’ly 2'U /o ja u 4
*275 285 *275 285 *275 285 *275 285 280 280 *270 285
‘166 C entral of New Jersey ___ 248 J ’ly 26 312 2a.i V
82% 8212 81% 82*2 8214 833., 83*2 84 8 8 8 4 84% 833S 847g ,525 Chesapeake & O hio_____ 05 A ug 2 92 Jan 0
*30 43 *30 45 *30 45 *30 45 *30 45 *32 45
Chicago A A lton H R ____ 23.’g J ’ly - 0 06% J a a 0
*____ 0512 *
05%
Do pref_______ . . . . . . 6 4 % J -ne 27 99 A pr 31
65% *____ 65*2 *
05*2 *_
65*2 *
Jau
24 24
24 243.1 24*2 2434
Chic G t Wes', tru st ctfs__ 19 J ’ly 20 3678
23% 23*2 23*4 23*4 24 24
*48 49 *47 49 *48 50 48% 483) 48*4 48*4 *48 49
Do pret tru st c tf s ____ 4o J ’ly - 0 04*8 Jail 10
124U 125 123% 12438 123% 125 124% 125% 125 120% 125 120*34
Chicago M'lw & St P a u l.. 113*4 J ’neau io8% Jan 3
143 Sep : 17214 Jail
Do pref_________
*14812 150 *147*8 147* *149 150 149*2 149*2 149*2 150 149 150
Chicago & N orth W estern 137% J ’ly - 0 182% Ja u 0
149 149% 148 148 *148 149 14834 1483.1 148-% 149 148 149
£25 Jau L
210
Do p re f_______________
*201 210
207 207 *205 210 *203 210 *203 210 *203
145 145
Chic St P Minn & O m aha 140 A pr 28 162*2 Feb .1
*142 150 *140 150 *140 150 *140 150 *140 150 *160
170
Do pref_______________ $ 1 0 0 A pr 2-5 ■,17014 Feb 18
*102 168 *100 108 *100 170 *100 170 *160 170
3% *3
3*2
3% *3
Chic Cn T rac ctfs stm pd 2 *, Mayg4 6% Jan 4
*3
*3
3*2 *3
3% *3
3*2
*0
8
8
4 7* Sep 2 8
8
*6
Do pref ctfs stm p d ____
12L Jail 4
7 *6
*0
8
*6
love Cln Chic & St I____ G1 N ov 1 92 L Mch 18
67 70 65 0034 6 0 06
73 73 *70* ~72 01 70 *99
*98%
1
1
0
Do pref_______________ 9 9 Sep 14 104 Jan 16
1
1
0
*98%
*99 110 *99 110 *99 110 5938 110 5 9 8 3 5934 5938 0 0
-olorauo & S o u th e rn ____ 46 J 'l y .o uo% F eb 16
5834 59*2 59*8 59*4
59*2
5934 00
Do I t preferred______ 70 J ’l y -7 8, Men 4
70*2 70*2 *76*2 77
70% 7012 *75*2 70*4 *75 77 *75*2 77
Do 2d p referred______ 7 0 A ug 1 81 Jail 13
75*2 *74 75*2
*74 7512 *74 75*2 *74 75*2 *74 75*2 *74
elaw are & H ud son___
170 170 109 170
J ’ly to 185 Jan ;$
*109 172 169 10934 169% 169% 169 109 *497%
D
e aw are hack- & VVest. 4149*j
590 *497*2 0 0 0
99
J ’ly 2 6 ,2 J Mch 21
000
*497*2 600 *497*2
*49712 000 *497*2 000
333.1
323
4
D
enver
& Rio G ran d e___ 23*4 J ’ly 20 0 2 Ja:i a
3234
33%
33*4
32% 32U 323.J 3234 32% 32% 3234
Do p ret_______________ 0 2 % J ’ly 2 6 84 Ja n a
*74 77 *74 76
*74 7012 74 74 *74 70
D etroit U nited__________ 45 J ’l y n 06 Ja n t7
*53 0 0
*50 00 *50 00 *50 60 *50* ’go’ " *59 0140 *123
Ou'.uth So Shore & A tlau io J iy i 18*4 Ja n a
4
14
14*2 *12% 14*2 * 12*2 2484
* 12*2 14*2 *12%
* 12>2
l)o p ref_______________ 17 J ’ly .o 24% Jan 4
*24 2434
243g 24% 2434
*24 26* 24% 24*4 *21 25
l'ji* J ly 2 6 34>3 Jan f,
,' rle
29'8 29*8 30*8 297s 30*2
29>2 30>s 29% 29% 29.% 2934 2953
Do 1st pref_________ 35 J ’l y -7 52% Mch 8
48*2 49*4 48*8 49% 49 4934
*483S 4934 48% 4834 4838 49
Do 2d p re t_________ 2 0 % J ’ly 27 42 Mch a
39 *3034 39 *38 39
*35 37‘2 *35*8 39 *33 39 *3034
C roat N orthern pref_____ 1 1 8 J ’l y .o l4J7g Jan 3<j
127 1271; 1257s 12634 120 120*2 12034 127*4 127% 12734 127*4 128%
Iron Ore p rop erties___ 4 5 J ’ly o 80% Jan
58 59
5S 59
5978 00 59% 59*8 0 0 01 %
*59 00
G reen Hay & W, deb ctfH n A ug io 18% Mch 21.
*1312 1412 1438 1434 1434 10*2 15*2 1034 15% 157g 15*4 153.1
a v an a E lectric______ 88*, Ja u 20 97* A pr J-.
* 88*2 96
*91 96 * 88*2 96
93
93
*8812 90 *___
* 88*2 96
H
99 Jan 4
94
*____ 9412
Do n re t______ ____ 041?
94*2
957s *____ 94%
94*2
4
Hocking
v alle y __ . ______ 1 0 > M ay 5
400
135
*125
135
*125*
139
n r
Do pref______________ 86 F eb i iol% J no Is
; l 6 o I llinois C entral_________ 124 j ly 20 14/ Jail 6
13233 132% *131% 133* 13258 132% 135 135 135**4 13534 135 135
,050 ntcrhoro-A Ietropolltan . 1 4 % J ’ly 2 0 25*2 Ja n 11
2 2 % 23*8
22%
22
22
2134 22*8 217s 22
22*8
21*2 22
1 ) 0 pref_____________
58 59% 58*4 5934 ,000
’ly 30 0 2 % Ja n 12
56*4 671 56'8 5734 57*2 57"8
57 14 68
2134 22*2 ,400 Iow a C e n tra l____________ 41*2
15 jJ ’neoo
30 Jan 3
21%
19*2 1934 19% 30%
*19l4 1934 *19 19* 19 19*8 34*2
.900
37%
Do
p re f_______________ 25 J ’ly 2 0 64% Ja n 3
36
35
35*4
35
*34
*34% 35*2 *34 35
C I11 S & U tr cfs, pret 0 8 A ug 2 80 Feb 18
77%
77*2 *75 77% *75
*75 77*2 *75 77*2 *75 77*2 *75
K
3234 327g ,100
ansas City S o u th e rn .. 23 J ’ly 30 44% Jan 3
32*4 33
32% 32 32 *31*2 32*2 *31% 32%
*3214
200
Do pref____________ 5 8 Aug 2 71 Jan 4
66*2 06*2 6 6 * 2 06 06
*05*2 07 *05*2 07 *00 07 *00
ake Erie A tV e.tern___ 1 5 J n e 3 0 25% Ja n 6
*18 2 0 *18 20
*18 20 *18 20 *18 20 *18 20
i
39 O ct 1 0234 Ja n O
1 Do pref____________
42 42
41 41 *40 47 *40 47
*41 49 *41 49
Long Isla n d ______________ 6 0 J ’ly 1 7U% A pr 14
03 03 *03 68 *63 08 *03 08
*02 00 *02 04
14534 146 146% 147 14738
Louisville A N ashville___ 131*, J ’ly 36 159% Ja n 6
145 145 144*2 145 142*4 G3 14534
n h a tta n E lev ated___ 123 J ’nC30 140 O ct 49
143*2 143*2 143 143
*142 14212 *142 142*2 *141 143 143 143 *29%
M ainueapolls
31 *29% 30*2
A St Lou's 23 J ’ly 30 o3% Ja n
30*2
*2912 3134 *29*2 31 *29*2 31 *2912
54 *48 54
Do pref_______________ 40 S cd 21 80 Feb .4
53*2 5 3 3 4
*50 54% *45 5412 *48 54% *48
■ Vllnn S t P A S S M arie___ 114 J ’ly 2 0 145 Mch a
139*2 13934 138% 140
139*2 139*2 141*4 139 141% *149
130 140% 137*8
160 *149 150
14 934 14934 *148 150 *149 150
Do p re t_______________ 144 J ’ne 0 150 % Alch 2
90 * 88*2 90
Do leasctl line ctfs____ * 8 0 * 4 Sep 20 92% Jail a
3134 35*2 35 35%
Mo K ansas A T exas_____ 27 J ’ly 20 61*8 Ja n i
343, 34*2 3434 34*2 34% 34*2 34% *04
+34 ■
08
Do pref_______________ 67 J ’l y .o 74,g Ja n 6
67*2 *04
+04 07% *04 08 *64 67*? *04 07%
5434
547g
.Missouri Paciile_________ 41
54*8 54%
j ’ly 20 73% M ay
53% 54 54 54 140
54 541, 533.1 54
ash G hatt A St L outs, 1 2 5 J ’ly -6 140 N ov .a3
140 *137 142
N
♦ 135 140 *135 140 *135 140 *135 140
a t Rys of Mex 1st pref 0 0 Feb 3 72% Nov 3
71 7134 72 72% 72 72
71
+70 71
70*4 70*4 *70
Do 2d pref_________ 23*. J ’ly 2 6
N ov 3
34 35
35% 30% 36 30%
*333S
33*2 34 3334 3378 115>8
N Y C entral A H u d so n .. 105*8 J ’W 2 6 1 36*2
28
Alch 9
11G33 1153s 110*2 11434 117
110% 117 115*2 110*4 115*4 110*4
N Y Ohio A St L ouis____ 65% M ay 4 0878 N ov 3
08 08*s 07*2 GS%
07
07 6834 *07 09
*65*2 071, 0634 110
Do 1st p re t___________ $ 1 0 1 J ’ly « 109% Ja n - 1
no
*106*4 110 *100*4 110 *100*4 n o *10634
♦ 100*4 110 *100*4
Do 2d pref____________ 6234 A pr 2 8 98 Jan 19
*8S34 9 3
93
88*4
♦ 8 8 * 4 93 * 8 8 * 4 93 * 8 8 * 4 93 *8 8 * 4 93 *1541,
N Y N li A H artford____ 149 A pr 28 1 0 2 A lch14
154
1 5 4 % 154
*152 1543.) *153 154*2 *152 154*2 154*2 154*2 149
Subscription receipts
7143 J n e lu A151 Alch11
149*2 149 149
+149 149% 149 119*4 149*4 14938 *149*4 149%
N Y O ntario A W estetn. 3 8 *, A ug 2 60 Ja n 6
43 44%
43 43
42% 42% $42*2 42*? *42% 43 *42*8 43
Norfolk A W estern_____ 88*, J ’ly 2 0 108% Mch 21
99*4 993g 9934 100 99% 100%
99 99
98*2 98% 98-% 99
Do a d ju stm e n t p ret___ 88 F eb 2 91% Alch 19
89 89 *87 90 *36*2 89
♦ 87*2 0 0 11734
N orthern l’aclilc_________ m i , A ug 3 146% Ja n a
119 119%
118% 118*4 119 11834 1193g 118% 119*2 1183S 120
p a c ific C oast Co________ 100 O ct 13 118% Jan 12
108
+104 109 105 105 *103 108 *103 108 *103 108 *103
JL Do 1st pref_________
110
*90 1 1 0 *90 1 1 0 *90 1 1 0
♦ 90 1 1 0 *90 1 1 0 *90 115
Do 2d pref_________ 105 Feb 14 118 Ja n a
*103 n o *103 1 1 0 *103 n o
115 *103
+105 115 *105 13134
P e n n sy lv a n ia ___________ 122% J ’ly 20 138*2 M rh 9
131*4 13134 131% 132 1317s 132*4 1130 131*8 ,220
131% 132% 131
150 P ittsb Cln Chic A St L ._ 89 j ’ly 2 0 1045* Mch 12
981, *95 98% 98 98 *93*4 98*2
$98*4 98*.| *96 98*4 *96 HO
Do pref_______________ 1 1 0 O ct 25 116 Alch 1
*110
115*2 * 1 1 2 115* *1 1 2 115*2
*110
110
*110
♦110
110
130% j ’ly 2u 172*4 Teb 18
152*2 1533g 15273 154*4 15378 150
151% 153*4
R eading.................................
152% 15278 150% 152*2
1 st p re t____________
*85 A ug 24 93i, F eb 17
8
8
*
4
8734
8
8
*
8
*88
*80*2
*
8
6
%
89
8734
89
*87
*87 89
2 d pref____________
87 J'ly .o 110% Ja n a
97*2 90 96 *96 97
97*2 *95 98 *94%
+95 98 *95 323
Rock Island C om pany___ 2 2 's J ’ly 2'6 57*4 Jan
33% 33*, 33*8 33% 34*4
4
32% 33*2 33% 05
33 33% 32
Do pref_______________ 54 J ’ly 27 92% A pr 9
05
05*2 00*2
04*2 04% 05 60*4 64
*04 05% 64 04
Q t L A San F r, 1st p re f.. 58 A ug 11 73 Ja n 0
62 *01*4 03
02
00*4
*58 0 2 * 0 0 64*2 42*2
4234 43*4
O Do 2d pref__________ 34% A ug 2 00 Ja n [)
42% 4234 43
4034 411.) 42*2 42*2
St
Louis S o u th w estern ___ 1 8 *, J ’ly 2 0 24*2 Ja n 3
30
*28
iiO
29
*27
*27
30
*28 30 *27 30 *27
09 *67 70
Do pref_______________ 5U , J ’ly .0 77% Ja n 3
70 *03 09 +65
*00
09 *05 69 *05
118's 11934 118% 120
Southern Pacific Co_____ 103% J ’ly 20 *138*4 Ja n 4
118*% 119% 1 1 0 78 1183s 1175s 11858 11834 119*4
Southern v tr cfs stm p d . 1 8 J ’ly 20 63% Ja n 3
20
26*8 20*4 26 207g
20
25% 25*2 25*8 25*2 *25*4 28 *59
Do pret
do
43 J ’ly 20 75 Ja n 3
69*4 60*2 6034 03
+59 0 0 * 2 59 69 *203.1 5978
'l'e x a s A Pacific_____ . . . 2 2 *, J ’ly 2 0 30% Ja u a
27*2 *27 29 *27 28
2034 27*? 207g 26%
*26 28
I bird A venue (N Y )___ 6‘, J ’no 1 19*2 Ja n 7
1334 1334 1334 i378 14 148
*13 14
13% 137g 13 13%
*0
Toledo Railw ays A Light
8
8
*6
834 * 0 1 0
*0
c 15% Ja n r 4
*7
*7
8 *,
360 Toledo St L A W e ste rn .. 195*2 JJ ’ly
64% Ja n
20
27*4 271, 27*4 2734 2734 277s
27*4 27*4 $ 2 0 26 *25*2 27
000
Do p re t_______________ 4 2 % J ’ly
’ly 28 72% Ja n 4
5S7g 58'g 587g 59*4 5933 61
583.j 583., 5834 6S34 6834 58% *108
300 Twin City R apid T ransit io j J ’ly 2 0 1 1 7 * 2 Ja n a
113 111*4 111 %
112
*110
112
10
*109 1 1 2 *108 1 1 2 * 1172*2
050 U nion P acllic____
170*
J ’ly 2 0 204% Jan a\
737g 1737s 174*2 174*2 175% 174*2
173*4 174 171% 173% *92 193
500
Do p re f____________ 152*4
103% Jan
93 93 *91 03*2 9234 93%
8 8 * 4 J ’ly 2 0
927g 927g *91 93
100 U nit R ys ln v 't of San Fr
30
23% J'11C30 42% Ja n a
30 30 *28 30 *25
*27 30 *27 30 *30 32 *56
Do
p
re
t------------100
+50
69
58
47
J
'n
e
j
7 2 - 3 Ja n
a
6
8
*50
59*2
*56
59
59*2
*50 5812
a b a s h _________
2 7 % Ja n
250
a
1 2 % j ’ly 2 6
18% 18% 18% 18*8 18*8 18*2 18%
18*s 18*8 177S 18 $18% 383g
300 W Do p re f____
38 39*2
3834 38"g 3S**4 39
28*8 J ’W 26 0 1 Ja n
383.i 39*4
37*2 38*? 8 8 * 4
47%
4u J ’ly 26
700 Went M aryland U y.
48 48
48 48 *47*4 48*2 48 48,g 48*2 48% 47*2
74 O ct 22
Do pref________
095
73 73*4 73 73034
*7278 74*8 73 73% 73 73 $73 73
0
3 A pr 28 10 Ja n
0 0 0 W heeling A L ake E rie ..
6*2
7 *5*2 6 % *5*2 6
*0
*5*2 0*2 *5*2 10*2
15*4 10*4
8 J ’neJO 23 Ja n a
550 Do 1st pref_____
18 *15 17 *15 16% *15 10 *2 *15
+10
4 J ’ne 30 13*2 Jan a
GOO Do 2d pref______
9 *7*2 8*2 73t 8*4 * 71 o 8*2 8*4 8*4
9 *7
*8
62*4 03*4 12 0 0 0 W isconsin C entral.
44 . J ’ly 2 6 04 N ov 2
02*4 03
58*2 5912 58*4 5 8 ) 4 5834 6234 02*4 64
STOCKS— HIGHEST AN D LOW EST SA L E PH ICES.
Friday
Tuesday Wednesday Thursday
Saturday Monday
Nov. 4.
Nov. 3.
Noo. 2
Nov. 1
Oct. 31
Oct. 29

l i A N w S A iN iJ
Hit Ask
Rid Ask
Hanks
H anks
C hatham __ 310 320
New York
A e tn a _____ 175 ISO Chelsea ExT 200
America 11.. 595 005 Chemical . . 125 430
Citizens’ Ctl 150 *54
Amcr E xch. 230
A udubon . . 115 125 C ity ............... 382*2 387%
Coal A Iron 152 , 157*2
B attery Fk 122*2
Colonla, 1|. . 41))
.375
Colum bia li.
4U5
B ronx ilorol 300
erce . t20J t .02*2
195 2(15 Com mEx
1|_. 1315
B ry an t Pk 1 155 100 Corn
B utch <Sc Dr 138 145 E ast R iver. 115 125
C entury 1i__ 170 175 Fidelity 1|__ 105 175
Chase _____ 430 45 1 Fifth A veil. 4090 4250
im t >iuu u nvvi p i uvu,
*»• 1 10 yj u u .j
tS alo i t StocI: E xchange or a t auction this week



Range for Previous
Year (1909)
Lowest
Highest
20 Alch 25 Mch
.% Ja n
Got
0 6 % J ’nc
loo1* Ja n 1126%
1 0 7 1 , Ja n
143*" Aug
103*, Feb 1 2 2 % J ’ly
1t
Nov 90 A pr
07 a an 827g J ’ne
1 1 65
Mch 189% O ct
tu% Ja n 79% N ov
2 '. 5
Feb 323*, Sep
91*4 Dec
577g Feo 74% A pr
76 NOV 78*, Alch
2 1 1 , Dec
,37% Dec
68% Dec 6 4 % Dec
i l l Teb
158*2 Me.1* ls l Aug
173*8 l<eb lpM, Aug
2 O8
Met* 423) Aug
148 A pt 167 AOS
106*,
Ja
J wn
■ jU Deen ISO7 Ja
7 % Dec
1 8 % Jan
08 3 an 83% F)eo
100
Ja n 105 Men
51 G ot 08% Ja u
7(;l« Ja n 86 M ay
73% Ja n
107% Teo 200 M ay
635 Teb (.80 A pr
^ 7 ^ J ail 5 1 A pr
90 Feb
5,5
Jail 713,
Aug
1 4 % N ov
21
Ja n
2s
Feb 36% Ja n
•_••>%Alcll 39 J ’ne
30% Men 56% Aug
2 8 % Alch
46 A ug
130%
I el> 1677s Aug
6 5 % Alch
8S*2
Aug
13*, Nov ■>1 Dec
39 |,Cb 103 Geo
83*8 Feb 100 Geo
88 Apr <j4 U J 'no
137 Feb j 6 2 % Aug
11% Mch 25% Gee
30% Meh 03% Gee
20% Nov 30 A Pr
48 Sep 0 2 A pr
71% Teb 82 Sep
87 Feo 60% Aug
07h Feb 7 5 1 - A ug
1 9 % Feb
29% A tig
48 Ja n 647* J U9
5 )
Ja n 7 1 1 , Dec
rl2 l -'an 102*2 A uK
137 F)ec 153*2 J a a
51 Sep 06 Ja n
s i Alch 90 J al1
1321, J a a 149% J a a
147 A pr 104*2 Aun
89 J ly 94 Gee
3 5 1 ? 1*cb
50% G et
71
Feb 78% G et
05
Feb •7 7 % Aug
122%Ja n 142 ’ Gcc
64 Dec
4 4 1 , A pr
21
Dec
120*, Feb 147% Aug
481, Mcb 09 N ov
100 F'eb loo F eb
70% A pr 95 N ov
1154 Nov 1 7 .4% J ’ne
/;1 4 7 1, Dec *149% Gee
42% Feb 55% J ’ne
84*i Ja n 102 Gcc
8 5 % Alch
92*, J iy
133*4 Feb 159*2 All*
76
Alch 110*, Gcc
100 Alch
88 Mch 1 1 5 Dec
126*8 Feb 151% Sep
80*? Ja n 997* Dec
101 Feb 116% Sep
118 Feb 173% Sep
89 Mch 90 Aug
90 Feb 117*, Deo
20% Feb 81 Deo
67% Feb 94% Deo
05% Alch 74 Dea
30 Feb 00% Sep
20*2 Feb 35% Deo
47*, Ja n 82 Dec
114% Feb 139*8 Aug
22 Feb 34 A ug
00 Ja n 75*2 Geo
30 Feb 40*2 Aug
12*., Dec 4 2 1 , Ja n
7 May 15% Ja n
43 Feb 647g O ct
01% Feb 74% J a a
97 Jan 116% Dec
1721? Feb 219 Aug
*91 Mch 1181, Aug
30 Feb 4 7 Sen
60% Feb 77 Sep
15 Feb 277g D ec
41 Teb 01% J ’un
9

5 J ly
15*4 J ’ly
01 , J ’ly
357* Jail

i i i u s r C O M P A N I E S — J R O w iiitlS ' <>u O f A T U N S .
Rid A ik
Rid Ask
Banks
Hid Ask
H anks
R anks
H anks
F ilth ........... 300 350 Irv ing N Ex 200 210 M utual H___ 285 295 Prod E xch 1
Reserve . .
F irst ............. 835 815 Jellcrso nH ..
185 N assau 1|___ 240
New N eth'd 210 220 seaboard . .
14th StH---- 150 155 L ib e rty ____ 625
S e c o n d ____
F o u r th ____ T1ST 1 9 1 L incoln____ 400 425 New YorkCo 900
G a lla tin ___ 330 r 340
M anliattanll 320 330 New Y ork. 315 325 S h erm an___
G a rlle ld __ 290 300 M ark’t * Ful 252*2 257*2 N’h t &Day1) 200 215 S tate H ____
G erm -A m 1j 140 150 U ech& M et’s 245 25) 19th W ard . 250 260 12th W ard.
G orm 'n Hxl) 405 505 M ercantile . 160 160 N orthern . .
105 23d W a rd ..
G erm ania 1). 55) 575 Merch Exch 160 170 PaclhcH____ 230 240 Un on E sc .
W ash l i ’ts 1
M erchants . 181 183 P a r k ____ 1352
G otham __ 159
G reenw ich 1] 255 205 M etropolis ! 390 410 People’s 11.. 250 275 W est Side 1
H au o v cr___ 010 625 M ctropol '111 203 206 P h e n ix ____ 190 2 0 0 V orkville 1|.
Im p & T rad 5021, 5)7*, Mt MorrlsU. 250 £60 PlazaH_____ 625
. t
« uw o
11 w^ *-'-*■ *—
»
..................... ........ .........> ■ - • ii F irst Installm ent paid n Sold a t p rivate sale a t this price, z 2d paid. j/3d paid.

127* Ja n
257g Ja n
15*g Ja n
037* A pr
Hid
loo
100
40J
400
135
275
140
no
275
05)
500

....

Ask
165
105
_
425
__
290
140

__

1230

[Y ql. lxxxxi.

New York Stock Record— Concluded— Page 2

Range Since January 1
Range for Previous
Salt* oj
STOCKS
On basis of 100-share lo.s
Year (1909
the N E W Y O RK STOCK
Week
EXCHANGE
Highest
H tghcsl
Shares.
•uUustrL.ltt
/disceilaiicou.
s E xpress_______ *249 J ’n o ij 1270 Jan 5
*250
*250
*250
*250
♦ 250
A dam
U Ls-Chalm en_________ 7 b J 'ly 27 15 Ja n 3
200
*S12 1 0
♦ 812 10"
034 9*4
9*4 93., 9 ) 4 03, *8l2 10 33
llo p rel____________ 17 A ug 6 5484 Ja n 5
810
33
♦ 32l2 3412 3214 3212 32i4 32V, §33 33
3312 3 II4
m algam ated C opper___ 551,- J ’ly u 908 Jan
70*4 717« 93,900 AAmer
683,1 6938 6«li 691s 69i4 703,8 70iS 713,8 7U.l 72
gricultural C hem . 35 J ’ly 2 6 42l» O ct 21
4734
4784
4712 4,300 Do Apref_______________
4712 4734 47*8 48-s 48 48/s 4612 483g
UU14 A or
103 Jan 1 .
*100
*100
*100
*101
*100
11,310 A m erican licet Sugar____ 24 J ’ly 26 47DJa n m
37D 3 7 1 2 37 3714 37 371s 3634 37 37 3934 38U 39U
pref_______________ 89 j ’ly 27 v5b J ’ne 15
350 A mDoerican
93 93
92 04
93 9 3 *92 94
9212 921? *92 94 ♦ 103
OA J no ,1. 13‘g J a n 3
C an___________
3
95g 0 /fl 912 978 934 103s 103S 1 0 * 4
10S8 978 1012 15,020
pref_______________ 62 j ’ly 3 i 8U2 Ja n b
75 751? 75 75
78 785g 75l2 7734 9,990 A ml)oerican
75 76!2 77U 787g 5434
Car
&
Foundry
39'2
J ’ly 26 72<s Ja n 5
9,900
56
5434
54
54*8
551
2
535S 63/8 53's 54
54U
53D
310 Do pref_______________ 1 0 9 J ns jo 1 2 0 Mch
*112
11514 1133a 1133s *1121" 1151, 114 114 *11378 11514 115 115
69- Mch
6 2 18 J ’ly 2 6
67 67s8 3,250 A m erican C otton Oil____ 101
*65 6612 65*2 65*2 65l2 0C34 67 67 0634 67
Feb 1 107 O ct 13
Do pr«f_______________
*105
. j Ja n .
20 A m erican E xpress______ 5235 Aug 3
*240 275 *240 2 7 T §255 255 *240 276 *240 2755
400 A m erican H ide & Leather 31» Sep 13 8ig Jan 6
4b
4 I2
*4t2
*412 5
4b 41" *41, 434 433 4-"s *23
1 9 “ Sep
8
l)o
pref_______________
4/7, „ an 100
*23
241
2
241
2
*23 24 *2312 24D 241S 24 lg *2312 24l2
3,900 American Ice S e c u rities.. lo b J ’ly 2 6 2914 Mch v
193,8 1 9s8 1834 20
1 713
I 8 I4 173t 18 *18 2 0 *18 2 0
12=8
12U 1238
400 A m erican L in se e d ______ 10's J 'ly 2 7 1784 Ja n 2
123,8 **32
ll7s 34
1 2 ) 2 *1173 12 * 8 * 1 178
1 2 "S * n 7a
1 2 '2
14
Do pref_______________ 2 5 I" J ’nej,, 407g Jan .
321g 327s
200
*32 341? *3112 3134 *32 3412 *32 33
40 41l2 2,120 American L ocom otive___ 29 “ J ’ly 2 6 e2i2 Ja n .
30^4 41
$40 40
4012 4012 39U 40
3912 40 *105
Do pref_______________ 1 0 2 4 2 A ug 6 115 Ja n 7
‘105b 107
200
106b
♦ 105 10612 *105 1061" *105
106D *43.i 10612 106b
*4b 514 *412 5 I4
4
O ct 1 8 Feb
100 A m erican M alt C orp____
514
5
5 *4D 5U *4
5
Do pref_______________ 2 8 i 2 J ne ,u 48 Mch 21
3478 35 78 *35 36
1,200
3433 348,8 343
4
35
35 35 * 8356 36
88
*86
*87 8 8
300 Amer sm elters Sec pret il 82 J ’ly 23 907gjan .
88
88
88
88
*86
*86
*86
elt ng& Relining 61)8 J ’ly 2 104 Ja n 2
7912 80"s 783.1 S014 7934 807s 803g 8 1 78 8134 833S S113 83 92,215 Amer Sm
pref_______________ 98U J ’ly 2 6 112": Jan 2
105 IO5 I4 105 10512 105 105 105U 10512 10518 105/8 10o'8 1057s 1,400 A mDoerican
S n ull__________ 2 7 7 A pr 4 2 5 A pr 27
‘240 300
*240 320 *240 320 *240 320 *240 320 ** 12 01 00 320
Do pref_______________ 9512 Ja.i 13 1 0 U2 Sep 20
103 ‘100 103
100
103 1 0 0 1 0 0
*100
102
102
*100
*100
47b 4 /b 471t 4714
500 Amer Steel Found (new ). 3 8 “ J ’ly 2 6 6b ja n L<
491" 49D *471" 48
46 40
4612 4 612 1183
119 llOM 119M 1,800 A m erican Sugar Helming 11 lia O ct 3 128?8 Feb IS
11878 11878 11838 11838 *118 119l2 118 11812 1 0 4 117
Do pref_______________ U2 O ct 3 1-4 Feb 38
100
11678 H <>7*
*115 117 *114 118 *115 117 *116 117 * 11421,,
143 142'8 14314 25,848 A m erican Teieph A Teleg 12684 J'ly 2 0 1433s Feb 3 i
1407s 141 140 141 14012 1418,8 141 1421,8
953S 9533 9618 2,210 A m erican Tobac (new) ,pf 9 0 J ’ly 2 6 0J8.I Mch 1
9334 9334 *9312 941? 9438 04*8 94b 34b
*9284
94
VVoo'en______
251s J 'ly 5 3 9 1 2 Men IS
3283
3134 331? 34 343,| 34 973g 3434 3434 2,300 A mDoerican
3238 *31 32
prof______________ un* J iy 5 104 Mch 7
97 9738 1.600
97 97*8 9714
*9512 1)634 *96 9612 96*2 97
/A
nacondaC
opper
Par$2o
,•3312
J ’ly 2 6 $51 Jan
3,018
4212
43
431g
43
435,8
42
*42 42
42
4212
41*2
4112
S teel_______ 2 1 J n e j 347s O ct 21
31 317g 317s 32b 32 32*4 3,700 B ethlehem
31 32
3212 3212 301S 32
Do pref____________ 4 !) A ug 16 65 Ja n 1
500 Brooklyn
613s *58 6112
61 61 *53 61I2 60 6 1 34 *58 61b 613g 139b
Union G as____ 1255 JJ 'n’iyo .o-6 164i2 Ja n 3
400
*137 1391" *137 1.391" *137 1391? *137 13012 *137 1 2 137 13778
18i8 Ja n 3
100 Bruusw lck T erm & Ky ScIOI4 10*4
12
*1012
*912 1 U 2 ♦ 912 11 1 " * 1 0 1 2 1 | 12 *912 30V,
Ja n 4
300 H utterlck Co____________ 28 J ’ne v 33
3012
30 30 *30
*30 301, *30 3014 *30
301,i 301.1 3434 343.4
4884 Ja n
3
J
'ly
26
35^4 35 3£34 4,400 ( 'cn tral L ea th e r_______ 92514
343,
*341.4 35 ' 2 341.8 341" 3434 35
9 ) 4 J ’ly 2 /
1091.1 Mch ;
200 V > Do pref____________
*10534 1 0 0 * 2 10512 10oi2
106 1057s 1057g
2 *1051? 1061" 106
*10312 1061
J 'ly 2 0 50 Ja n 3
3434 3512 2,200 Colorado Fuel & iro n ___ 2 23> 2 Sep
318,, 31b
4
34 34
333s 3334 *3312 34 * 3*41
12
Col & Hock Coal & Iro n.
92i2 Ja n 4
*412 12
2
12
*4^2 1 2
*4
5 *4
6
*412 1 2
9.700 Consolidated Gas <N Y)_ ) 2 2 J ’ly 26 1 0 0 -%Ja n 3
13612 1373., 13034 138
136U 137 1351" 1363s 136 1361; lSblg 136*8
P rodu cts K e n n in g .. HD J 11630 23t4 Ja n 6
171S 1714 2,750 Corn
17'4 17 U
17M 167s 17 *1634 17U 17 80b
1 6 73
8012 8034
632 Do pref_______________ 7 U38 J 'ly 2 6 8 6 8 3 Jan
*80 81
79 791- 80
*79 80
79 79
300 Crex C arnet_____________ 65 A pr .6 63)2 N ov 2
63 63 b ♦ 62 65 *62 65
♦ 60 64 *60 64 *60 64
3278 *3234 33
1.700 D istillers’ Securities Corp 2514 J ’ly 2 6 3o34 Ja n 10
32'4 32 321g
3212
32
*31
3U"
3114
3112
12
O ct 26 60 Mch 8
1734 1734 *18 25
1 884
2112
2112
200 Federal M ining & Sm elt'.;
16 * 1 2 1 2 16
*12
*12
37
O ct 27 88 Ja n 5
950 Do pref_______________ 134
40 40
39 40
4112 4112 41'2 4334 4412 45'8
r*39t 2 43
j ’ly * 6 I6l)7g Jan 6
General E lectric_________
155 156 151 15434 155 1551? 151&S 155 155 15512 15478 155'2 4,100 dGoldfleld
$
7
8
4
O ct 14 $9>.j Sep 2 6
Con
M
.F
u
r
$10
14,385
Sl
8
8
I
4
8 I4
8 I4
83,8 81S 8 U 81g 8 I4 81* 81.,
8 I3
H arvester stk tr ctfs 5 8 3 >S Feb 8 Iz a /jJa n 1 0 0 2 oan 118 3 4 Deo
IIII 4 109 IIOI4 1 1 0 1 1 1 1 1 0 1 2 1 1 1 1 1 1 1 1 U, 111 115 18,433 i n t Do
111
stk tr ctfs___ xl 17 A ug 11 129 Ja n 4 109',t J&n 128 Dec
340 lo t Mer pref
*12231 123 123 123 123 123 *12212 123 123 123 ‘122 123534
>3 , J iy
9
O ct
M arine stk tr ctfs 4 I4 J ’ly 25 7b Ja n 6
*514 53, *5U £3, * 5 1 4
* 5 )4 684 *5 1 4 6
*5l.i 6
275g Ja n
Do p rel_________
8 ’h J’iy
12->S J 'ly 36 248s ja n o 1 yu
1734 17 1714 1714 1734 ‘ "8 4 5 Intern
173( 1734 *16 18
17l8 17'g *17 13*8
Mch 1 0 i4 Ja n
nal P aper
9
J'ly 1 16 Ja n 3
13>4 1,450 Do atio
’ *1234 I.3 I4 12*4 123.1 * 12 1 2 13
13
13U 1314 51314
e l . . . ___________ 4 11- J ’ly 2 b o iD Ja n 3 4/3j Mch 6984 Aug
OI4 5678 2,050 In te rn etp rSteam
56 56
6514 6 6
! 55 55
5512 55*2 55 55
P u m p ___ 3 6 og J ’ly
64*g Ja n 1 831- Feb 54i2 N ov
3,150 Do p re t______________
43' 4 43*4 4834 4538
43 43
! *42 43 *42 43 *42 43
7 3 1 , J iy 20
82 12 Ja n 0 1 Sep
8334
627
0 034 Ja n 1/
82 82
l *82 83 4821? 821" *82 83 *82 83 1043,
Laclede
Gas
(St
L)
c
o
m
..
9
3
8
4
J
'ly
29
2,800
1161"
Ian lo (04 J ’ne 11 o38 Dec
10518
10514
1050,
10412 10434 9534
| *913
1 0 H 2 10434 10334 1 0 1U 104b 10412
79 J 'ly 2 6 98 O ct 10 70 J«n 9 5 4 N ov
95 9512 1,300 M ackay Com panies
93 9512
4
93 *91 93 *91 93
71 J ’ly 27 7834 O ct iu 6912 J«n 7 7 5 , Deo
600 Do pref_________
7512
( *7312 75 *7312 75 *7334 75 * 1 1750 1 1752 * 1 1750 1 17 52 1 75b
10O A ug „
100 N ational Biscuit
1 1 78 1 1 178
Ja n 6 96' 2 Ja n 1 2 0 S Sep
113 * 1 1 0 113
*110
11212 * 1 1 0
Do p r e f ___________ 1 1 8 8 4 J 'ly b 11a
202
125 Ja n 17 118‘2 Ja n 130 Sep
*___ 1 2 2 * _ 1 2 2 1 2 2 1 2 2 ♦ __ 1 2 2 ♦ ___ 1 2182 1 2 2 1 2182
N at E nam el'g & S tam p ’g 14 Sep 17 28t2 Ja n 3 1 2 os Feb 3014 Deo
*16
*15 18 *16 18 *16
♦ 16D 18 *16 18 *84
£4 O ct 17 9612 Ja n 18 8 2 ' Ja n 99i2 Sep
Do pref___
87 *84 87 *S4 87 *84 87
1 *84
87 *84 87
46), J 'iy 2 6 89’8 Ja n 4 7114 Fob 94 AUg
61 61
900 N ational Lead
5934 5934 60 60 *60 61
: *58Ti 59
59 59
10(34 J 'ly 2 6 110i2 Ja n 17 4 0 2 3 4 A pr 11334 Aug
203 Do pref___
5105U 105U *105 107 $ 1 0 0 106 107 107 *10614 10778 *106b 10778
Cons C o p p e r.P ar$ 5 $174" J ’ly b $223g O ct 17
21
21
21
2 OI4
21*4 16,190 dNev
2014
20
21*8
2 OI4
20
2014
20
9 7 14 Nov
York Air b ra k e ____ 69 ‘ J ne u u 5 b Ja u 3 *8720 *’ Feb
77 77
315 NNew
78 78 *76 79
78 78
79 *75 79
1 *75
Ja n 8 7 l2 J ’no
orth
A m erican Co new 63 J ’iy 6 84 Ja n 3
6
6
b
6
6
700
6
6
6
8
*65
*64
67
6
6
*65
66
E * 6 6 67
29'g
F'eb
N ov
431.1
Ja
n
4
227g
J
’ly
2
6
acific
M
all_______
33 3312 3214 3334 1,980 P aclUc Telep & T e le g .. 3 0 J ’iy 2 6 4014 Ja n 4 45'4 Nov 480
33
33 33 §3234 3234 *32 33 *3214 413
64
O ct
42*4 1,050
4
41 *401.4 4214 41-14
42b 10734
4214 4214 1073g
41l2 411? 10834
4012 1083
lOHj
Ja
n
120
Aug
1
1
0
8
3
J
a
n
8
People's
G
L
A
C
(Chic).
1
0
3
J
’ly
2
b
1,100
109
4
*107 10714
10812 109 109
*108 109
103 Dec
106b Ja n 8 9109 1 2 Dec
Philadelphia Co (P lttsb ’h) 84 J'ly
*90 92 *89 0 2
i *89 92 *90 93 *89 92 *89 92
A
pr
2 9 8 g Nov
13
J
’iy
26
P
lttso
u
rg
h
Coal
Co_____
2 7 8 4 Ja n
’
3,230
2
2
2
D
4
2
U
4
2
1
78
2
1
2
0
2
0
7s
2
0
1
"
2
0
*
2
0
1
2
2
0
1
2
f *1912
6 OI4 J ’ly 2 0
85 Ja n 3 40 Feb 8 7 i2 Deo
755
713s 713S *70 72 7134 7134 727s 7312
2
*70 71
7012 701
Steel C ar_______ 25 J’ly -0 5178 Ja n J 30i2 Feb 5b Aug
34*4 347g 35 3512 3434 3512 2,780 Pressed
3484
3 484
34 *34 35
$34
Do pref_______________ 90 J'ly 27 1 0 7 1 2 Ja n 6 9 6 F'eb 11134 Aug
200
99 *96 99 *96 99
9 684 963.J 96'2 9612 *96 97 *96 167
Pullm an C om pany______ 155 J 'n e .9 200 Ja n H 169 Ja n 200 Aug
621 yu
*165l2 167'2 16678 16712
169 169 a:166 160 §166 16021 ? $167
45g jail
2
Sep 2u 37s A pr 6
U3S J ’ly
400 lcksllv er M ining______
*2
2*2
*2
2 '2
*2
*1
2
212
2
*2
212
3 Men 1 0 61 ay
*413 6l4 *4>2 434 100 Do pref_______________ 278 Aug 2 6 78 M ay.l
*312 6
*3D 5 *3 1 4 365 365 385 35^
3212
Mch 6 4 1 , Aug
|
R
ailw
ay
Steel
S
p
rin
g
..
5178
Ja
n
3
28
J
’ly
26
710
36
35‘2
351
2
37 *3513
*3514 37 * 3 5 1 3 105
1
1
Do
p
re
t____________
24
06 *96 105
r .0 1 4 Sep 7 107 Ja n 17 977g Fob 109 “ Aug
*05 105 *95 1053 3 4 $96 341
*95 105 *95
3412 3 5 I4 6,800 R epublic Iro n A S teel___ 2 7 J ne
4578 Ja n 3 16"8 Feb 49i2 Sep
2
3333
34 34
33'8 3312 * 3 3 1 4 3334 33lg 398b
re f_______
104i4 Ja n 3 67)g Feb 110 1 4 J ’iy
8 2 8 4 J 'ly - 6
*9712 9814 98 9812 1,300 Do ppref
97U 9734 *9714 081., *97
93 98
St A Ir 481" J ’ly JO 8 6 D Ja n 3 68 F’eb 9 4 5 3 O ct
5138 5234 3,000 loss-Sheffleld Steel
52l8 5214 53
51 52>4 50 "8 511? 62b 113
5D2 52
Do pref____________ 1 1 4 “ J ’ly 5 11884 Feb 1 10738 F'eb 120 Sep
*105 113 *105 113
*105
*105 113 *109 1 1 2 *105 113
1 9 8 4 J ’ly 26
$4033 ja n 3
371* 383j 3812 3834 3734 3812 13,550 (ITennessecCopper Par$25 $134
3778 38lS 37 381s 37U 3734 140
O ct 7 144 O ct 18 $33l2 O ct $40 Jail
1,031 T exas Co (T he)__________
140 140 140 140 141
140 140 *139 140 138b 139
F
eb
8
83
05 M ayl3 80l2 F'eb 0 3 J iy
Texas
Paclllc
L
and
T
rust
100
92
00l8
90ls
92
*90
♦
OOlg
92
*90
*85 95 *90 95
153g J ’ne
6 J ’ly 5
lOTiJan 10
914 F'eb
125 U nion Bag A P a p e r ..
*8
9
*8
9
0
812 812 *52
*8
9
*81" 9 * 8
55 J 'ly 15 73 Ja n 17 6 6 Ja n 8H4 J ’no
100
Do pref__________
60
5734 6734 *52 60 *52 60 *103
*55 60 *57 60
A
ug
122
Ja
n
3
96
U
nited
D
ry
Goods
Cos—
100
116
O
ct
104
I25i2
Deo
104
104
*103
104
*102
*103
*101
pref_______________ 9 9 1 4 A ug 2 11378 ja n 4 rlO0 Sep 114 “ Deo
106 106 10634 10634 250 U Do
*105 108 *105 108 *105 107 *105 108 *17
1 4 *8 J ’iy 21
32 Ja n 3U 243g F'eb 35b J ’ne
300 S Cast I Pipe A Foundr 49
18
161s 16'8
1712 17*2
*16 1912 *16 1912 17 17 $56
J ’ne
84 Ja n 10 70 Mch 87>2 Aug
234 Do pref______ _____ _
56 *63 60 *53 60
56
66
*65 60 $60 60
U nited S tates E x p re ss.. 9 5 1 4 J iy 2 6 145 Ja n 10 82 F’eb §111 Deo
107 *99 102
105 *93 107 *99 107 *09 104 *99
*101
8414 Ja n 4 64 F'eb 87 Sep
26
A Im prov em ’t 0 443 4 JJ ’ly
70 72 *71 72 " ‘ 366 UU S*Realty
*69 71 *67 71 * 6 8 70 *71 72
’ne 3 7 11 Ja n 14 10 Mch 1712 J ne
S R eduction A Rellnlng
*612 71" *612 71? *612 71? * 6 '2 7b *0 b 7b *512 6>2
13 J ’ly 8 20i2 Ja n 3 24 F'eb 3 9 1 2 Aug
Do pref ______
*16 1934 *16 193., *16 1 0 J4 *16 193,| * 1 0 1034 *16 1934 2.600 U nited
.6
52l2 Ja n 3 27 F’eb 6768 Aug
S tates R u b b er— 27 JJ ’ly
3583
36 36>4 37 3714 367s 37U
353.1 38
35^ 3558 36
99 ’ly 2 6 110i2Jan 10 98 J a n 123)2 Aug
1,321 Do 1st p re t_____
1 1 1 1 ? 1 1 0 » 8 1 1 0 7g IIH 4 112
111
*11034 IH '4 H ID HIM * 1 1 0 1 2 1118,8 *71
.69'. J ’ly 2 7 84 Ja n 3 6712 F'eb 891? Aug
300 Do 2d pref_____
76 73 73 *73 74
72 72 *71 73
*72 74
oiig J ’iy 2 6 01 Ja n 3 4 U4 F'eb 6478 O ct
S tates Steel
7678 781,j 77l2 7834 7812 703g 787„ 803S 801a 8134 629,290 U nited
78G 79
m u 2 J ’ly 2 b 1253S Ja n 3 107 Feb 131 O ct
1177g 1 1 6 73 11712 11712 11778 11818 11812 10,900 Do p re t__________
119*8 11978 xl 17 118't 1171.1
J ’UC30 $60l4 Ja n 6 $30)s F’eb 567'4 N ov
4834 491?, 4012 60'g 6012 513g 501g 51>8 22,800 rfU tah C opper___Par $10 1$3038
49 4958 48 49
47 Feb 3 66ig O ct 21 40/8 F'eb 5688 Deo
64 653g 651., 6 6 * 4 6512 6534 2:6414 6 4 3 4 12,850 V lrgim a-C aroilna C hem .
6412 64'2 6312 6414 *123
J
’ly 2 8 1 2 9 )4 Ja n 4 114 Ja n 128 Dec
Do
p
re
t___________
_
117
126 *124 1 2 0 *123 126 *124 126
*124 126
21 73 Ja n 8 67 Feb 757s Sep
56
66
Virginia Iron Coal A Coke 50 Sep
♦*124
____ 126
56 *____ 56 *____ 6 6 * .__ 6 6
b F’eb 3 7 1 4 N ov
Vulcan D e tln n in g ..
12 O ct 21 $25 Ja n 16
al95 Ja n 4 300 Ja n 670
Feb
152
Deo
15
ells Fargo A Co_____
165 *162 165 *162 165
*164 167 *164 167 §165 165 *163
64 F'eb 8 514 N ov
3,413 W estern Union T e le g .. __
56 J ’ly 2 6 78i2 Mch
7212 74
73 74
7H? 7214 73
7212 721" 72 72
7H
2
82i2Jan
3
74
Feb
4,850
73
78
90
Aug
VVestingh'scF.l
AMfg
assen
74
7414
735,
49D
J
’ly
2
6
73*2
723
4
72^8
733
4
73U
731.1
731?
7312
130 Feb 24 110 Mch 145 Sep
11 )
May
100
Do 1st pref
*120
124 124 124 * 1 2 0 124 * 1 2 0 124 *120 124
•120
121
STO C KS— HIGHEST A N D LO W EST SA L E PRICES.
Tuesday Wednesday Thursday
FrL.ay
Saturday Monday
Nov. 1.
Nov. 2.
Nov. 3.
Nov. 4.
Oct. 81.
Oct. 29.

S

BANKS AND TRUST COMPANIES—BANKERS' oUO i’A i’lONS.

But
375

Ask




B anks
Brooklyn
N at C ity__
N orth Side 1
People’s __
P rosp’crtPk,''
Terminal §|
1 ru st Co’s
N Y City
As t o r _____
B ankers' Tr

Bid
290
150
158
150

I ru s t Co’s
N Y City
B’way T r_
Carnegie . .
C entral T r.
Colum bia . .
Commercial
00
G’om'nwcalth
E m p i r e ___
ICqult’blo 'lr
335 F’arm Lo&’i
e lity ___
640 FF id
u 't o n ____

Bid
145
105
1020
27 5
120
140
0 M
)
460
1625
2l3lf

ir u s t V"0 's
NY Llfe&Tr
N Y T ru st.
S avoy...........
S tand ard it
TltleUufe 1)
Tr Co ot Am
Union Trust
US Mtg<Ss Tt
U nit S ta te s.
vVashington
W 'estchestei
W indsor _.

But
635
U0
400
490
315
12
472
110 J
365
150
12J

Ask
650
105
4 11)
500
1310
4 7/
1190
375
160
130

But
1 ru st Co’s
Brooklyn
B rooklyn l'i 420 425
C itizens’ ___ 125 135
170
110
F lat h u s h _ 2 0 ) 220
300
165
F ran k lin ___
215
250
290 310
H am ilton . . 2 / 0 280
130
H o m e _____ 105 110
20)
115
Kings Co . . 600
375
415
L Isl L & Tr 300 3*l(j'
700
230 245
175
N a ssa u ____ 165 315
325
51(1
160
People's . . . 300
630
13)
245 ,’!70
yueens Co. 1 0 0 115
200
120
100
W llllam sb’e —
♦ Bid and asked prices: no sales on th.s day. i Less than 100 shares. $ Ex-rights. 6 New stock c Ex-dlv an l rlgh',3. U Now ((noted dollars per sharo.
fS aie a* flipock E xchange or a t auction this week s Br- stock ’.Ivldend 1) Banks m arked w ith a parag rap h <1|> aro S ta te banks.

B anks
Brooklyn
B roadw ay §
B rooklyn 1,.
Uoney Isl'd l
F ir s t ______
H lllsideH ...
H om esteadl
M anufac’r"
M echanics
M onvauk . .
N assau ____

Ask
305
ISO
160

Ask
159
1040
285
130
160
310
470
1650
217b

1 ru st C o’s
G uar’ty T r.
G uardian Tr
H u d s o n __
K n lck erb k i
Law T I& Tr
Lincoln Tr
M adison___
M anhattan
M ercantile .
M etro pol’t'n
M u tu a l____
M ut Al'nce

Bid.

£00

Ask
810
180
180
304
260
140
400
740
620
130

1100

1120

New York Stock Exchange—Bond Record, Friday, Weekly and Yearly

Ja n . 1 1909, the SvsX ange rnatXod of quoting b o n is was cX anqei, a n d prices a rt now a ll—" a n d in tsrssl" — exeepl tor ineom e a n i der g u lled bon ds.
BONDS
U».g
Lange
Week's
Price
BO N D S
L ange
W eek’s
Price
Lange or s l I Since
N. Y. STOCK E X C H A N G E l^ fc ! tr tn a u
Since
Laiuje or
tr id a y
N. Y. STOCK E X C H A N G E
j)
1 J a n u a ry l
L
a
st
sale
L ’O V 4
W
kkk
E
mdinu
N
ov
4
Last
Sale
L
o
v
4
w kkk E ndinh N ov 4
h iu
a s k Low
Jligh\ L o Low JiigX
0 1 U a B B —( v o n /
h i a A sic .Lott H igh No LOW H igh C ent
l , ft. i-o v e rm n c u i
C h au d iv p u r inou g 48.1951 J-l» 1 0:434
>*6 U1 90% Sep ’09 _II............
101*4
101 *4 199 *4 O c t’10 ___100*4
U S 2s consol reg iste re d .<(1030 tj-J 11 00 00 %
Alac (to N or D ir 1st g 08.1946 J-J
104% J ’ite 08 l! ............
% 101
1 0 0 * 4 r n o ’ 1 0 ....,|1 0 0 * 4 101 %
U y as consol c o u p o n ....d l9 3 0
AUd b a d e AU D ir 68___ 1947 J-J 103% ......... 115 N ov’Ua
102% 102 O c t’19 ___ 1 1 0 1 % 1 0 2 % M
U b 3s re g iste re d .............. /clUl8 q-F 1U1%
110
no
obile D jr l s t g 5a........1046 J-J 10 7 ......... lit) Ja n ’1
101% 102 4 102 S e p ’10 . .. . ' 101*4 103 CeuUU(to
U S 3s coupon......................fcl'J18
102 103
B ot Oa Col g 68 1937 M-N 192'< 103 102 S e p ’10
11102 102
lt, J’ly ’io
U b 3s oou sm all bo nd s../d U l ft Q-J? ....................lO
4 % 115% C ent oi N J geu’i gold o s .1987 J - J 122% 123% 123 O c t’In s l 120 125%
115 % l i d 's O ct ’10 ..J6|1 1114%
U S 4s reg iste re d ..................11)26 F 115
12U% 125
B e g istere u ..................../il*J87
121% ..... 122 G e t’JO
115%
115*9
0 b 4a c o u p o n ........................11)25 F 115*9..........116*9
Am D ock do Im p gu o s ..1921 qJ -J- J 100% 108 109 Sep :10 ....*107 109
100 100
U S P an Can 10-30 y r 2s. fcl'.*3U Q N >00*9 ......... 100*8 A ug’10
Be & iiu d B gen gu g 6a 1920 J - J 99
Bell & W ilks B Coal o s ..1912 M-N luuHi
;ioo% 1 0 1 %
lo o % Sep '10
F o re ig n (ao v cm in en i
Con e x l g u ar 4%a___g 1910 Q-M
J.00 Aluy’10 ___ 100 100%
1 07% Sale
86%
97% 17 95% 97%
A rgentine—In te rn a l Csot 1900
N V & Bong B r gen g 48 1941 M-S *1)5^1 "III*
Im perial Ja p a n ese D ovcnuu i
94%
94 96% C ent Pacino see So Pauiiic Co
94 Salt 94
s te rlin g loan 4 %s............1925 A t1 93%
93% 95% C entV erm ont 1st g u g 4 s.el9 20 Q-F 87 90 88% O ct ’10 ...J 85 88%
94 93% 93%
2<l series 4% s.................. 1925 J
88% 92% Clias (to y a r see AU c o a st Bine
89% 8 8 % O ct ’ 1 0 ,
S terlin g loan 4 s ...............1931 J jt 1 80 28 *«
>4 sale
102
102
101*4
104 d ie s (to Ohio gold 6s..........<*1911 A-O ..........100*4 100 O c t’lo .... 100 101%
S
Etepubol C uba 6s ex ten d e b t..
1195 97*4 G en lum tm g & u n p t5 s .ld 2 9 J-J 101 104 104 S c p ’10 ... 1102 105%
97
Sale 97
S an Paulo(iSrazil) tru s to s 1919 JJ $t 97
1110% 114%
96% 99% 1st consol g os....................1939 57-X 111% 113 111% 112
99% 97 8 , 90% 97
U 8 ot -Mexico « 1 g Os of 1899 J-D 94
B egistered........................1939 M-N
112% 112%
112 % J a n ’U
04% Sep TO .
01% 97%
Gold 4s ot 1901.................. 1954 t T Xise a re00%
pr Ices 0 n the b asis 01 $5 to &. G eneral gold 4 %a.............. 1992 M-S io i% 102 101% 102 15 1 93 103%
B ogistereu........................1992 M-S K......... 102 101% J ’n e'H
•101% 101%
M im e m id C ity S e c u ritie s
J00 101% C onvertible 4 %s .............I9o0 F-A 03% sa lt 93% 93% 1:515' 89 95 %
Sale 100% 101
W Y C ity—4 % s....................190' (VI-N 101
nig sand y 1st 4 o ...............1941 J-D 89 89% 89
6, 87 89
sate 99% 99%
83
96 100% Coal
4% C orporate Stock........l;'o9 -M-N 0934
ir B y 1 st feu 4s ..194o J-D 85% 89% 88% O c t’10
1 83 88%
96*4 100% CraigB Valley
00% sale 99% 99%
4% C oruorato sto ck — 1958 M-N 107
1st
g
6a___1940
101 104%
104%
Sep
lb
105%
109%
10
2%
........
...J
107
%
107%
*2 1 0 a
J
J
N ew 4 % s............................196 f ■\1 -N 102 % ___ 103 Oct ’10
102% 103% P o tts C reek B r 1st 4 s.. 1946 J - J 8 l 90 90 J a u ’08 .... ...... ......
N ew 4 % s....................... . . . l . 'l f M-N 107*9 107% 107% i**7%
B (to A u i r 1st con g 4a.. 1989 J -J 95% 97% 98 O ct ’lb
94% 99
io 5 % n o
4%% C orporate Stock -.1957 M-N 103*9......... 1 0 2 *4 O ct ’10
2d consol g 4a.................. 1989 J-J 91% 93 91 b e p ’10
90% 93
102 103%
4 %% assessm t bonus— 1917
W arm s p r Vai 1st g 6 a ..1941 M-S
l o l ..... 113% •c i '0 5
...... ......
96% 100
09% 09% 99% 99%
4% Corporate s to c k ----1957 M-N
101 % 106% G reenb rier By ia lg u g la ’4U M-N 90 .......... 95 O c t'lU .... 87*s 95
.........104% 101% 1*H7l
N Y s ta te —C anal Im p t4 s.l9 d 0 J - J ..........104
lo 3 % J’ly '1 0
70 77
103% 103% Chic (to A ll B B ret g 3 a ...1949 A-O 73 74 72 S e p ’lb
So Carolina 4 “ 18 vso- io ........193.> J - J
U aiiw ag 1st lien 3 % a ...i9 o o J - J .0 70% 70% 7 1 **23 68% 75
96 u c t ’10
94% 96
Tonu new sottlein eut 38..1913 J - J 96% 97
0 J-J
0 0 % J a n '10
88
76
G
et
’09
90% 90% ChioB Begistered........................i96
V irg inia tu n a deb t 2 -3 s...1991 J - J 80
url (to tj—Deny jj 4a 1922 F-A
..... 99% 99%
98% 100
40 41 41 O o t’lO
40 66
Os deterred B row n Bros otts
Illinois Div 3 %a................1949 J - J 88 sa ls 88
13 86 % 8 *%
B egisterea........................1 9 4 9 J - J 8 6 % ..... 88 Sep8s%
K a ilro m l
’1 b
87% 88
IBs D ir 4 s .......................... 1949 J - J loo % bale loo% iUU% '*15 98% 101
a laoauia C ent See So By
Iow a D ir auiK luud 5 s ..1919 A-O 104% ..... 10n % O ct ’09
A la b a 51ldl see A t Coast Line
y ink ing lun u 4s.............. 1919 A-O 99 % sale 99% 99%, 1 08% 100
A lbany & Busa see Del<to H ad
N ebrask a c-xteusiou la . 192< M-N 99 % lUO 99% O ct ’10
98 100%
Allogheny Valley See Penn Hit
101 Sj ALnr,f>t/
B eg isterea........................1927 M-N
A lleg <fc W est see B un u <fc P
07
.....
97% 99
boutu
w
estern
D
ir
4S
....1921
M-S
....
79
79
70%
78%
74
83%
A nn A rbor 1st g 4 s..........A1U96 q-J
J o in t bonds Nee u r e a l N orth
97% 101
AtoU T<fc S Fe—G en g 4s. 1996 A-0 98% Sale 98% 98%
101
23 100% 103%
D ebenture 6s......................1913 M-N 1 0 0 % 1 0 1 % 1 0 1
98 100
B egistered........................... 1996 A-O 9 7 % ........ 98 J ’ne’io
G eneral 4 s........................19o8 M-S 97% 07% 9 7 % 9 7 % 51 97 100
91%
88 95
A dju stm ent g 4s............A1996 Mot .......... 92% 91%
H an (to a t Jo s consul 6 a ..i9 1 i M-S lo u % ..... 100 u 1 Uu% 4 100% 102
92 J a n ’in
92 92
B e g iste re d ....................E1996 Nov
84 12 81 86%
94% Chic ito n, ill ret os im p ^ 4 8 lb * 6 6 J - J 82% 85 84
S tam ned......................... rt.1905 M-N 91% Bale OIL 91%
lslo o u a o lg 68....................1934 A-O 123% 127% 121 J ’l y ’io . . 121 127
105 117
107% 107*4
Conv 4s issu e ot 1009...1955 J-B
G eneral consol 1st o s .... 1937 M-N I lu% bale 1(0% i iu% 1 108% 113
100 1 2 2 %
% 108 106% 107
Conv g 4 s............................. 1 0 6 6 J-D 107
B eg isterea....................... 1937 M-N ...... ...... 114 .11 Ml ’ 0 9 .... ...... .....
98 104*4
3 102% 102%
Conv 4s (issue of 1010).i960 J-D ..........lo
109*4
I o 434 122% C1110(to m u c By 1st os.1936 J - J 108% ..... n o O e t’lo .... n o 1 1 2
10-year conv g o s ..........la 17 J-D 109*4 Sale U,9
9o% Ja n %0
98% 98% Cluoaao (to n-rie see E rie
D ebentures 4s yeries J . 1912 F A
98% t e b ’ 1 0
98 % 98 *2 Chio G t W estern 1st 4 s ...1959 M-S 86% 86 86% 85% 10 84 87%
yeries K ............................1913 f -a
97 A p r’10
124% ..... I 2 6 O c t ’ 1 0 ...J 124% 129%
97 97*4 CHIC 1U (to iAlUiOV I’Ui Uo ...1941 j
E ast O kla D iv 1st g 4 s ..1928 M S 0 5 * 2 ..94% 03%
94 17 92 94% B elunm ug gold 6s............1947 J - J 10 7% ..... 114 Dec ’oi>
Slrori B ine 1st 4s g ..........1968 J - J 1 93%
100
J ’ne 10 . . . J 100 100%
107% 109% Bounty N A (to c n 1st 6 a .l9 lo J - J
10 7 % J’l y 'i o
S F e P res <fe P h 1st g 6s. 1942 ***-s 0 8 % ..
92% O ct TO .... 92% 94
Chio In d & you 50-yr 4 s ..1956 J - J
AU K nox & N See 1/ <& N
95 90*4 96% 05%
92 96% Chio Alu se a t P term g ua 19.14 J - J 101% lo3 103 j n e ’lO ...J 103 103%
A tlantic C oast 1st g 48.A1662 M » 100
% ...... 109 S e p ’ 0 9
G eneral g 4s series A ..eI9 8 9 J -J 8 0 % sale 99% 99% yy 98 100%
A la M id 1st gu gold 6s ..1928 M-N (*4*2........
103% O ct 08
96% J ’ne’oy
B eg isterea..................... e!989 u -J ••••
B runs & W ls tg u g 4 s . .1938 J-J
.......
86% 89
G eneral g 3 %s se n e s B .eiuo 9 J •J * 8 8 % :::::: 88% O ct ’10
C harles Ji> Sav l s t g 7 s ..1930 J-J 12a
92
93%
92%
Bale
93
93 *:i o 91% 93%
2
5
-y
rd
e
u
e
n
4
s
.................1934
J
J
92%
82%
89
96%
B Jo N coll g 4 s........,...o l9 6 2 M-N
. .. . 127 J ’ne ’ 0 9
Chic (to Li DU D ir g 0 8 . ...1 921 J - J lu 6 % ..... lo7% M ar io
107% 108
8avF<to W 1st gold O s..1934 A-O 1123
Chio (to AloBlV DlV 6 a ...1926 J - J 1 0 / % ......... 108% G et *10 . .. . 107 110%
112 112
1st gold 6s........................1934 A-O 1 0 % ........ 112 Atar’10
lu6% 108%
96 07% Chio (to P W l s t g 5s........1921 J -J luu% 109 % 107 % Gel TO ....1
fill Bp OCa <&G gu g 4s ..1918 J - J 93% .......... 96 J ’l y ’lO
102% 103%
D ak (to G t yo g 6s.............. 1916 J •J 102 % 104% 103 % Get ’ 10
A tlantic & Duuv See youth By
1 1 6 % 116%
hard* B o uassu g ba........1924 J -J 1 i 6 ‘4 ..... 1 1 0 % A lay'lo
A ustin <fc N W See you Pacitic
02% Sale 92
82%
E aC rosse(to D la l 6s___1919 J - J 101% ..... 104-,, G et To . .. . 101-4 106
90 93
Ohio prior lg 3 'as. 1925 J - J *........
HaltU&oglslered................../t.1025
0 1 *4 O ct ’09
92*4
Wis(to A llan Div g 5 a ___1921 J - J io n ....... lu6% A ug 10
105% 108
Vi- J 98% sale
08 V 98%
97*4 100% Alu (to N o la l cons ua___1913' J-D 103% .......... 103% A ugTb .... 103% 105%
Gold 4 s .............................../il94rf A-O
K xteudea 4-,<a................1U13| J-D 10u% 100 %
96 99 %
.......... 99*4 9 0 % J ’ly ’lo
B e g iste re d ..................../(1948 q -J 111%
120
u ct ’01
Chio (to A urtnw ouua 7 a ....l9 1 o <J-F 110*4 112 112 O ct TO
..
110% 113
P itts J uric 1st gold O s... 1922 J • J
7 % O ct ’lo
87% "89% E xtensio n 4 s..........l8»6-i926'F -A 99 .......... ton J ’ne 10 II.. 06% 101
PJuu<to M D ir 1st g 3*901925 M-N 87% 8 8 % b91%
B eg isterea............Isa6-1920 F-A ..... too
91 %
95 »y TO III. 95% 95%
89 93
oaie
P B E J S W V aB y sret 4sl941 M-N 990l *2% Sale
90
9u%
89 92*, G eneral goiu 3% s.............. !9a7]M-N «(% 90% 88% 88% ’’*i 87 90
SoutliW DlV 1st g 3*28...1925 J J
U3 % A pt ’09 .... . . . . . . ......
B e g iste re a ................... piU 87 %-F
r’lu
89% 90%
B e g iste re d ..................../tl92 5 q -J 8 8 * 2 .......... 89% AM par’lO
S inking lu u a 6 s ...18(8-1929 A-O i 11 % .......... 110% Sep To
110%111%
103 103
Oeu Ohio B 1st O g4*28..1930 41-S 98*4.......... 103
B egisterea............1879-19291 A-O 110 ..... 11 1 % A ov’U9 ....
110
O c t’ 10
n o 113%
Cl Bor «K> W con 1st g 6a 1933 A-O ..........112 106%
ib*6 ib*9%
y in kin g lunu 6 s...lb7 9-192 9 A -0 106% 107 106% *06%
u ’u'f
Motion U lr 1st gu g 6 s ..1911* F-A 101% .......... 1 1 2 Di’eeo’09
106
a
.....
106
M
a
r
ie
B eg isterea............1879-1929' A-O
.... lou 106
102 % ..........
Ohio B lv er B it 1st g 68.1930 J -D 103
105 107
D ebenture 6s......................1821'A-O ..........197% io7 M ayT0
.......... 112 N ov’09
G eneral gold 6 s............. 1937 A-o
......................'loO
%
i
e
u
’
iu
1 0 6 % 106%
l
i
9
%
M.ai’04
B
eg
isterea........................1921!
A-O
109%
.
.
.
.
.
.
P itts Clev (to'lo t l s t g 08 1922 A-O
98% Sep ’09
.1109 b o p ’10
109 111%
S inking tu n a ueb 6s........1933;M-N
P itts (to W est l s t g 4 s . . . 1917 J - J 96*4..........
109 J iy ’08
B egisterea........................1933 M-N
8 ta t Isl By 1 st gu g 4 *23 1043 J-D 80 .......... 1 0 0 N ov’04
1.4% J ’ly ’ io
114% 117*4
MU B y (to W est 1st g 6s 1921 M-S 113%
Beech C reek see X 1 0 4 11
112% Alur’l o ___ 112 112
E x t Jb Im p s tu n a g 6s 1929 F-A 198 *-j
B oiler (to C ar See Illinois Cent
A shlanu D ir 1 st g Us..1925 M-S 117
142 % u e b ’92
Bkiyu (to M outauk see Bong 1
117
123%
A
p
r'99
M ich D ir 1 s tg 6s..........1921 J -J
B r u n s * W est See A tlC o ast B
103% Muy’bO
in c o m e s ........................... 1811 M-N 199
Bufiulo N V (to E rie See E rie
109% 112
113% 116 % Chic Bock Isl (to Pac O s...1917 J - J l0 9 34 119 %'l 10 o c t ’lo
Bullalo ilcto P gen g 6 s ...1937 M-S I l l 115% i i 6 % J’iy ’io
109 109
B eg isterea........................1917 J - J 1 0 8 % ___ 109 A ug’10
106 109%
Consol 4 * 2 8 ......................... 1967 M-N 107 109 106 J ’l y ’io
91% 99
A ll* W est l s t g 4s g u ..1098, A -o 9 5 % ......... 9 0 A ug’10
96 99% G eneral golU 4 s..................1988 J J 96% 98 97 % 98
98 93%
B eg isterea....................... 1988 J - J
9 8 - 4 F e b ’10
Cl * M ali le t gu g 6 s___1943 J •J 108 ......... 103 J ’ly ’08
80 92
B etuu din g g 4 s ................1934 A -o 8 9 -s B ale fc8 % 8 d%
Booh * P itts 1st g O s...1921' F-A 116*4 118 1 16 J ’u e io
1 1 6 " 117
97% 97%
97 % J ’ly ’io
tr u s iS e n e s J 4 8 ....191 2 M-N
Consol 1st g Os.............. 1922, J -O 115 .......... 1 1 6 % S e p ’io
116*4 110% Coil
94 ft, J ail ’10
94% 94%
Bull & S usq 1st ret g 4s.<tl95l! J - J ......... 72% 72 Alar’10
Al » s ................................1915 M-N
72 72
94 D eo’99 ....
N 4 s...................................1916 M-N
B ur C B * N see U B 1 * P J-J
,14% Alay’lO . .. . 94% 94%
O 4a....................................1917;M-N
lan Bo 1st ext O s .............. 1913 IVI-8 104 Sale 103% 104
102% 105%
C;20
100% 1U1V100% 100%
P 4a...................................1918 M-N . . . . . . ys 03*a A ug’oO ___:
1UU%101%
5s.....................................1913
7 4 '« 1 14 '*60% 83%
Chio B 1 (to Pao BB 4 a ..2992 M-N, 74% bait: 74
t'.egiatered....................... 1913 M-S ..................... 100% May’O?
76% Alay’l o ___ ! 76% 80%
B egistered.......................2902 M N
Cart) * Shaw n See ill Cent
1 03 96
95 95 005 '10
XU A ik & Louis 1st 4 %s 1934 M-S ..........
Caro.iua C ent AeeSeab A ir B
114%
BUT C It -to
is l g oa.i8 o l A-U iuy .......... 11 114 iO0t *10'___11111%
C arthage <& Ad Seo N V C * 11
......
120 1
B egisterea..................1934 A-O ..........
Cod u la F * N See B C U * N
jio s O o t’lO . .. . 1105% ioo
C B lF (toN W 1st gu os. 19211A-O 103
Oon B rancn By See Mo Pao
109% 113%
M (to S t B 1st gu g 7 s .. 1927* J -J*
Cent ot Ua B B 1st g & s..plU 4 5 'K-A 111% ........ 100% Oct TO
103% 109
Choc Ok (to G gen g 5s .o i*JiJ J -J 1 0 0
' 104 A tayT O '.... io 4 104
Consol gold 5s....................1945 M-N 106% 107% 107 O c t’10
113 A p r’06
Consul gold o a ................1952 M-N 1 0 2 109 1108 % G et T O ___ 1 0 8 n o
B egistered........................1945 M-N
91% E eo x as DCS 21 1st 6 a ....1 9 2 3 A-O 1 0 0
91
91%
101 F o b ’1 0 ___' 103% 104
le t plot incom e g 6 s ....p l9 1 5 Oct 9 1 Sale 91%
91%
90*4 Jh iO ftt a- dfc N G see ill C ent |
i
S ta m p e d .................................... 1. .. . 91 92 87% 81%
87% Jluc S t E(to P itta yes Penn Co' I
87% Sale
2 u p iet incom e g 6 3 ___ pl9 4 5 Oct
b7 % Kuo S t P Al (to O con b a.,.1 93 9 J-D 124%125 |125% Oct *10 . .. . 123 127%
2d pi cl incom e g 5s stam ped .... 87% 89 87 O o t’lO
80% Cons 6s rcUucea to 3 % s.l930 J-D 85 ........ i 93 D ec’0 3 .................
3d prei incom e g 5 s ....p l9 4 d ,Oct 84 85 84% O o t’lO
I
i *1
86
3d pret incom e g 6s sta m p e d .1___ 84 86 85% Oct '10

«$•£

.... % %
%%

% %

%%

iVllftCEBEANEOUsi 110X0.3—C ontinued on N ext P ag e.

titic c l K n ih v u y
.S treet IC uilw ay
Brooklyn Bnp 'lx g o s........1946 A-C 103 % Salt 103% 103% 2 101%105 M et S t By gen col tr g 5s. 1997 F-A
1st roluiid conv g 4 s___ 2 0 0 2 J - J 83% Sale 83*4 83% 61 79% 87
B et g 4 s................................2002 A-O
B k C ity 1st con 5 s .1916.1041 J - J 1 0 1 %
2 100% 104
Bway (to Yth a v 1st c g 5s 1943 J -D
101%
1 0 1 %
B k q Co (to S con gu a 6 s .1941 M-N
Col (to bill A r 1st gu g 5 S . 1993 M-S
09 97% Oct TO
91% 99
B kiyu U n El 1st g 4 -6 3 .IO 6 0 F-A 1 007%
Bex A v (to P F ls c g u g 5s 1993 M-S
0
103% 1 0 2 1 0 2 \ 03 99 103
Stam pcil guar 4 -6 s ....l9 5 0 F-A 1 0 1 % 1 0 2 % 101% 102*4 8 09% 103
T hird A re lilt con g u 4 s 2000 J-J
K ings Co El l s t g 4 s___1049 F-A
C ent T r Co c e itls stm p d ... . .. .
83
83
1
83 85
86
S tam ped gu ar 4 s ..........1049 F-A 82
T hird A re By 1st g 5 s ..1937 J - J
83
83
8 6 % 82
80
8 6 %
8
N assau Elec gu g 4 s ___1951 J-J 78 80 78
76 8 2 N Orl By & Bt gen 4%s ,.193u J - J
73
4
Conn By & L l8 t& r o lg 4 % s ’5i -J-J
LU‘2 % 1 0 2 % St Jo s By B tH <fc P 1st g 6 s ’37 M-N
102 *9 Miu ’U
102
Stam ped eu a r 4 % s..........1951 J-J 0 0 %
S t P aul C ity Cab con g 5s. 1937 J-J
101% A ug 'li
1 0 0 % 102
D et U nited 1st con g 4 % s.l‘J 32 J-J 1 79%
"......
s i " 80 J ’l y ’U
80 82% T ri-C ity By & Bt ls t s f 5s. 10 23 A-O
H av an a E lec consol g 6 s. 1952 F A 95%
93 95 *4 U nderground ot Bon o s ... 1920 M-N
96*4 Get TO
In ter-M et coll 4 %s............. 1966 A-O 81 sa lt 80% S l \ D'3 77 83% 4 %s.........................................1932 J-J
incom e Os............................1948
In te r Hap T 3-yr conv 6 s. 1911 M-N 1 0 0 % sale 1 0 0 % 1 0 0 % 2 b 1 0 0 * 4 104
, 4 5 -year 6 s Scries A ........1052 M-N 1 0 1 % bale Uil% 1 0 1 % Oi .00 103’, Union E l (Clile) 1st g 5 s .. 1946 A-O
I n te ru a t T rao coll tr 4 s.. 1949 J - J 05 *a
07 *e M ar'lo
67% 07% U nited Bys S t B 1st g 4s. 1934 1-J
U nited K Bs ban F r s i 4 s. 1927 A-O
M anila Klee ls t& eoll 68.1953 VI-S
98 Alay’06
•N o price Friday: latest this week. 11Flat. al>ue Ian it Due .Via■ e. Due day 1 0 Due i‘ne ’i Du -1 Ty toDue 1 vug




74% 82%
75% 79 75 O c t’lC
48 O c t’U .... 46 54
102
98 % 1 0 2 %
Sale 1 0 2
96 102
98% 99 96 J ’ly TC
93% 93% 93 O c t’ll) ..' 96% 99
01 % O ct ’lfl
67*4 69%
*6*2 *’ baft 62
62 % 1 5 i 55 08%
107 108 107*4 O ctl’ll! .... 105 % 108%
82 85% 81% O c t’ll .... 84% 87
l *8 N o r’Ot
ib*3% 108*’ i 07% D ec ’ 0 1 .... ......................
96% 0ft% 98
99 4b 06*" **9*9**
•• . . . . . .
95 99% 08 A p r ’ 1*9
8 8 % Sale
83
88 %. “ 2 83 89
37
37 37*-. 37
9 31% 40
84 Oct ’01;
79% 83
. : : : : so 80 Aug’1 (
07 6 8 6 6 % 6 0 * 8 4 65 74
- 0 D ae le t p D ue N or s O ptio n Sal*
102

1233

New York Bond Record— Continued— Page

2

[VOL. LXXXXI.

BONDS
Wee re’s
Price
BO N D S
Range
Price
Week’s
R ange
N. Y. STOCK E X C H A N G E
F riday
Range or
Since
N. Y. STOCK E X C H A N G E
frtcla y
Range or
Since
Nov 4
W kkk E.vnrrm N o v 4
Last Sale
Jaevnaro
Nov 4
Last Sale
vvbbk E ndinb N ov 4
J a n u a ry 1
Sin
j s (C Loxe
Cine S t P M A O—(Con)
Hxgh
J
jow H igh
B id
A sk -L o w
Hxy!\
Low Jiig/x
Oil S t P * M inn 1st g Os 1918 M-N 122 <4 12534 123 J ’ly ’lO
123 127 E rie A P itts See Penn Co
N or W isconsin 1st O s...19301 J -J 122*3 1274
May’OO
UO
1115 D ec’ll
E vans A T H 1st cons O s.1921'J
S t P A S City 1st ft 0s...U m );A -O 112 113 129°,
1124
1124
iV
t4
1144
1st general gold 5s..........1942 A-0 101 1014 101 Oct ’10
101
102 4
C h ic * W est Ini! sren g 6 sg l9 3 2 Q-M 103 4 1 1 2 1034 J ’ly ’tu
108 4 1 1 2
114 A pr '05
ernon 1 st gold Os..1923 A-O
Consol oO-year 4 s ...........1952'J. J 01 1)2 02 O c t’10
88
03 4 SMunt VCo
B ranch 1st a 58.1930 A-O
95 J ’ne’08
C h ic * VVMich see Pore Marq
L 'argo A so See Ch M A St P
Choc O * G ulf See O It l & P
1 lin t A Pore 51 See Peru M ar
Cln H * D 2d gold 1 4 s...l9 3 7 j J - J
113 O ct ’00
Fla C A Ponin See Sea A ir L ine
Cin 1> A 1 1st gn g 5s.. 1041 M-N 105 100 105 Oot ’10
101
108 Fort
S t U D Co 1 s t g 4 43.1941 J - J- 86
A ug’lO
8 8 4 93
C Find * F t W 1st an 4s >.-.’23 M-N
J • J ......... 86
Sep ’lo
! 84 87
Cin 1 * W 1st sru g 4S.1953 J - J 38 4 .......... 80 4 O ct '10
85 87 4 F t VV A Rio Os rA 1stSeeg 4Sos ...Fac1928
Co
ln d D M A W 1st it o s ...1035 J -J 102 104 102 S e p ’10
10 134 107 I' ’' aailiiliaAr HA 011882
1st 58.1913 A-0 95 4 99 97 J Ty ’09
107 4 D eo’02
1st g u ar gold 5s.............1935 J -J
G eorgia A A la See se a A Line
C l S t L A O See C U C * S t 1.
Ga Car A N or See se a A b in e
Cln S A O See C C C S t L
G eorgia Pacirto See So Ry
Clearilold * Mali See B R A P
G ila v G A N or See So Pao Co
Clev Cm C * S t 1. een a 4s 1003 J-D 9 4 4 9 0 4 94 4 05 4
0 0 4 9 8 4 Gouv
A u sw e g at See N Y Cent
Cairo Dlv 1st gold 4 s ....1039 J-J .......... 04 4 0 4 4 A ng’OO
rand R a p * ln d 6 ’e «Peun RR
Cin W * M 1)1 v 1st g 4s. 1001 J - J 00 4 .... 01 S e p '10
!)o 94 4 GG ray’s
P t Form See S t L S VV
4 92 4
St L D lv 1st col tr g 4 a ..1990 M-N 02 4 01 02
8 U34
9534 G t N or—O
B A (Jcoll tr4 s 1921 J- - J- 0 6 4 Sale 957, 004
944 974
02
4 01 O c t’07
R egistered.......................1000 M-N ..........
Regia
tered J i ....................1921! Q - J
96 .......... 95 4 954
94 4 967,
.........
lo
o
t
00
D
ec’00
Spr * Col JJiv 1st g 4 s ..1040 M-S
S
t
P
aul
M
A 51 an 4 s .... 1933 J - J i'8 4 100 99 S o p ’10
98 100
4 ........ 0 0 M ay ’ 1 0
W W Val l)iv 1st g 4» ... 104!) J - J 1 90
90
90
1st consol gold 6 s ..........1933 J - J 124 4 1274 1254 J ’lyT U
125 4 1 2 8 4
0 4 4 ........ 1054 P e b ’io
0 1 S t I j A C consol Os..1920 M-N 08
105 4 105 4
132 A p r’01
R egistered....................1933 J - J
........ 9 7 4 074
1st goht 4 s...................../cl 030 Q-*
96 4 98
Reduced to gold 4 4s 1933 J - J 1 0 1 107 1 U6 4 Oct ’ll)
1034 1074
9 7 4 . .. . 00 A ag'10
R e g iste re d .............../cl 036 Q-F 105
96
98
1
0
8
4
J
’ne’UO
R egistered................1933 J - J
. . . . 1 0 8 O c t’10
Cln 3 * Cl con 1st g 5 s.. 1928 J - J 1 0 0 4 .........
108
108
100
O
c
t
'1 0
D
akota
e
x
t
gold
6 s___1910 M-N
ib o " io ia j
100 4 DeC’O
C C C * 1 consol 7 s...........1014 J-D
M ont e x t 1st gold 4 s ..1937, J-D 97 4 Sale 97 4 07 4
07 4 1 0 0 4
Consol sin k fund 7s___ 1014 J-D
100
4
O
ct
’06
J-D
R
egistered....................1937
G eneral consol gold Os. 1034 J - J .‘a 1 1254 il*9" A ug’ 1 6
110 119
95
4
99
4
Ja
n
’lu
1)9*4 99 4
E
M
in
u
N
o
rD
lv
lst
g
4al948'
A
-0
R egistered....................1034 J - J
114 4 F e b ’3 0 1113 1144
M inn Union 1 st g 6 s ..1922' J - J 1 1 2 * 8
94 J Ty ’08
ln d 111 A W 1st prot 4s. 1940 A-0
6 125
120
M ontC 1st g u g 6 s ....1 93 7 J - J 1264 130 127 127
0 1ml * W 1st pf 5 s ...<(193.3 4 -J
13 64 Muy’OO
R eg istered ...................1037 J - J
91
91
Peo * E ast 1st con 4 s ...1040 A-0 6 8 92
04 4
110 1137,
1 st g u ar gold 5s........1937 J - J
1114 1134 1 1 1 4 Oct ’ 1 0
69 59
69
Incom e 4 s......................... 1090 A pr
67
116 J ’no’Ub
W ill A S 6 ' 1st gold 5s 1938 J-D 112 ..
Clev * M arietta see P enn HR
G roenbrier Ry See c h e s A O
Clev A P itta See P enn Co
rot A t g 6 s 61952 J - J 87 80 87 O ct *10
87 047,
Sale 70
70
65 813b GHulfan* As 1S 1t st
Col M idland 1 s t g 4 s..........1047 J - J 70
Jo Sea O B A u
944 954 914 914
C otorndy* Sou 1st g 4 s ...1020 F-A 97
93 977,
ousatom
o
S
e
e
n
Y
N
H
A
H
Sale 97
974
H elm ut & ex t 4 4 s ..........1935 M-N
04 4 09
Val 1st consol g 4 4 s . 11 99 99 99 j-J -. Jj- 1 0 0 4 1 02 4 102 1024
997, 104
1134 O ct ’lo
F t VV * D en C 1st g Os..1021 J-D
1 1 1 4 H 4 H ook
R egistered...........................
100 4 Sop ’08
Colum * G reeuv See So Kv
Col
A
H V 1st ex t g 4 s ..1948 A-O 93
05 4 M u y ’10
95 95 4
Col * H ock Val See lloclt Val
92
Col
A
Tol
1st
ex
4
s
........1965
F-A
9
9
4
Foo’OO
Col * Tol See Hoctc Val
H ouse E A W T ex See so Pao
Col Conn * T erm See N A VV
H o u st A T ex Con See So Pao Co
Conn * P as R ivs 1st g 48.1943 A-0
104 J ’no’10
I llinoia C ontrol 1st g 4 a ..1951 J - J
104 10634
100
100
Cuba H R 1st 50-yr 5 g .... 1062 J - J
100 11*7*10
-I R eg istered .......................1 9 5 1 J - J
1 0 7 4 A p r’07
A G t So c e s C M A S tP
1 s t gold 3 4 8 .......................1961 J - J
92 Aug.10
89
4
01
D ak
00
02
alias A W aco See M K A X
04
Sop
’09
R
eg
istered
.......................
1951 J-J
Del Lack A W estern—
9
3
4
M.ay’09
*87
A-0
E
xtend
ed
1st
g
3
4
s
........1951
108 4 Oct ’10
M o rris* Essox I s t 7 s . . . l 0 l 4 M-N 1 0 8 4 .
80 J ’l y ’ou
1 0 3 4 1 1 1 4 1st gold 3s ste rlin g ..........1961 M-S
1st consol guar 7 s........1015 J-D 1 U 4 .
1 1 1 4
11 14
1 1 1 4 1 1 4 4 Coll T ru st gold 4s............1952 A -0 9 9 4 .
99 4 90 4
90 1004
R egistered....................1015 J-D
127 J ’ne’06
99 J ’n e’OO
1 9 5 2 A-0
R
egistered.......................
1st ref gu g 3 Has............2 0 0 0 J-D 87 04 94 Sep ’09
1st ref 4 s .............................1965 M-N 97 4 98 4 98 4 98 4
96 90®,
1184 Sale 118*8 U S ",
N V L ack A VV 1st O s...1021 J - J *1004
113
1184
L N O A T ex gold 4s ...1 9 5 3 M-N 9 8 4 .......... 99 4 99 4
97 4 100®»
........ 1 0 0
106
C o nstruction 5s............1023 F-A
106
1104
1 9 5 3 M-N
R
egistered.......................
07
M
ay’07
96
4
97
u
T erm A Im prove 4s___1023 M-N ..........1004 99 O ct ’10
973* 101
100 A p r’09
Cairo B ridge gold 4 s ___1950 J -D
W arren 1st ref gu g 3 'as.2000 F-A 85 . . . . 102 4 F o b’03
lioaisvD lvA T orm g3 4s. 19631J - J 84 4
87 4 Alay’10
87 4 8 8 4
Del A H ud 1st P a Dlv Vs.1017 M-S 115 120 1 2 0 O c t’10
120 1 2 0 4 Midillo
D iv re g 5 s ........... 1 9 2 l'F -A 102 .
123 M ay’OO
149 Aug’Ol
R egistered........................1017 M-S
Omaha D lv 1st g 3s....... 1961 F-A
7 7 4 M ar’10
77 4 * 77*4
98*4
10-yr conv deb 4s............1010 J-D 9 8 4 Sale 98
96 4 102
S t L ouis D ivA torm g 3 s. 1951 J - J
79 4 D ec’08
102 1 0 0 4 10034
100 103
1st lieu equip g 4 4 s ___1022 J - J 10034
R
egistered........................
1951 J -J
99
1st A ref 4 s ..........................1043 M-N 99 Sale 99
90 4 100 4
Gold 3 4 s ......................... 1951 J - J 87 4 89 89 F o b ’ 1 0
8 8 4 89
9 3 *, 94 4 9434 95
A lb A Sus conv 3 4 s ........1040 A-O 12234
91 07 4
101 4 Oct ’DO
R egistered...................196 L J - J
... 12 34 Sop ’10
Rons A S aratoga 1st 7 s . l 0 2 1 M-N
1
2
3
4
1
3
0
4
85
S
p
ring
D
lv
1st
g
3
4
a
...1961
J
J
100
N
ov’UO
D el R lv l ilt B ridge See P a UR
estern L ines 1st g 4 s ..1961'F -A 96 4
03 O ct ’10
95 98
D eny A R G r 1st cou g 4 s .1030 J - J .......... 0 4 4 93 4 04 4
0238 97 4 BWellev
A C ar 1st 6 s ........1923 J--D
117 4 M ay’ 10
11741174
4 1 0 3 1 104 4 M ar’lo
Consol gold 4 4 s ................ 1030 J-J 99
1034
104
4
94
..
C
arb
A
Shaw
1st
g
4
s
...1932
M-S
95 4 Oct ’10
95 4 09
101 101 S e p ’10
100
106
I Im provem ent gold 5 s ...1028 J-I) 97
Ohio
S
t
L
A
N
O
g
5
s
...1951
J
-1)
116
U
c
l’10
114*4 119
92/4
1st A rclu u d in g 5 s......... 1055 F-A 92 Sale 92
904 944
R egistered....................... 1 9 5 1 J-D ..........1104
112
116 1 1 8 M ar’io
118 118
98 F o b ’Ob
Rio G r J uno 1st gu g 5 s .1030 J -D
Gold 3 4 s ..........................1951 J-D
90 Oct ’09
79 78 D ec’09
Rio G r So 1st gold 4s. ..1 04 0 J - J
51emph
D
lv
1 s t g 4 s ...1961 J -D
97
4
M
ar’io
97 4 97 4
85 5Iar’08
1
G u aran teed ......................1040 J - J 0 0
S t L Sou 1st gu g 4s___1931 M-S
98 J ’l y ’08
92 4 9 1 34 92 4
Rio G r W est 1st g 4 s___1030 J - J 84
94 4 ln d B1A W est se e C C C A S t L
8434 8434
85 ln d III A la 1st g 4 s..........I960 J - J 95
M ge and col tru st 4SA.1049 A-0
05
M
ay’10
95 98
97 J a n ’ 0 2
U tah C ent 1st g u g 4s ol0 17 A -0
I n t A G reat N or 1 st g 6s . . 1 9 1 9 M-N 107 108 4 107 107
107 110*4
D es 51oi A F t D See M A S t L
2d gold 5s............................ 1 9 0 9 'M-S
M ay’lb
111)
1 0 0 4 112
Sep ’04
D os 51oi Un Ry 1st g 6 s..1017 M-N
103
103
ru stC o c e rtfs........................| . .. . ..........104
103 112*4
94 ........
Sep ’lo
94 977, 3dTgold
D ot A M aok 1st lieu g 4 s .1005 J-D 80
4s............................ 1 9 2 1 lil-S 1 6 4 16 16 4 G et '10
17 35
91 0 1
91
88 91 Iow a C entral 1st gold 5 s.. 1938' J-l> 1044
Gold 4s...................................1005 J-D
104 Oot ’10
1 0 2 4 106*4
72 74
D ot So—O S Dlv 1st g 48.1041 M-S 72 76 71 O o t’10
Gold 4 s.................................. 1 9 6 1 M-S
70
O
ct
’10
70
09
77 4
106 1 1 1 Jam es F A Clear 1st 4 8 ... I960 J-D 9 4 4 9 4 4 94 4 0-14
D al A Iron R ange l s t 6 s . . 1037 A-O 1 0 8 4 1 1 0 1084 O ct ’10
94 9 4 4
1 0 0 4 51ar’o&
R egistered............................1037 A-O
1 , ai A A G R
see L b A 5 1 a
2 d 8 s .......................................1018 J -J
A van A Allch See Tol A O U
D al S h ort L ine see N or Pao
K C F t S A 51 See S t L * 8 F
D ul So Shore A A tl g o s..1037 J-J 1 0 6 4 10U34 107 4 Oct ’10
1004 1074 JC C A M R A B N '« « S tL A S F
l / a s t ot 51 Inn See S t P 51 A 51
K an C A Paclllo See 51 K A T
I-iaat T en Va A Ga See So Ry
K an City Sou 1st gold 3S..1U60 -0 7 3 4 74 7 3 4 7 3 4 18 7 1 4 74
E lgin Jo l A E ast 1st g o s .1941 M-N 1 0 7 4 .......... 1 0 8 4 O ct ’10
1 0 84 1084 R egistered......................... 1 9 5 0 AA-O
63 Oot '00
Elm C orl A N o See Leh A N Y
R e f A im pt 5s A pr 1950.......... A-O 100
........i o i ’ 1 0 1 4 Oct ’10
994103
E rie 1st consol gold 7s___192u M-S 1 1 8 34 1 2 1 1 2 0 4 O c t’10
1184
1224
K
entucky
C
ent
see
L
A
N
100 4 .......... loo J ’ne’lU
100
100
N Y A E rio 1st oxt g 4s 1947 M-N
A D es Alo See C R IA P
104 4 10078 Keok
. . . . . . 1 0 44 1014
2d e x t gold 5 s..................1919 M-S 105*8
A Ohio see So Ry
103 1034 K noxville
3d e x t gold 4 4 s .............. 1923 M-S 1 0 0 4 ......... 103 M ar ’ 1 0
E rie A VV 1st g os . . 1 9 3 7 J . J 1 0 8 4 1 1 0 4 1 1 0 4 O c t’10
1084 1 1 2 * 4
106 4 106 4 -i uko
4th e x t gold os................ 1928 A-O iu3 4 .......... 1064 Ja n ’ 1 0
2 d gold 6 s ........................ 1941 J - J
..........107 106 4 M ur’10
106 4 107 4
5tli e x t (told 4 s.................1928 J-D
o rth Ohio 1st gu g 6*s"l945 A-O 105 111 109 M ar’10
108 4 112
ill) 4 118 O CI’IO ... l i 8 118 L NSlio
N Y L E A W 1s t g fil 7 s.l0 2 0 M-S .........
A
M
loh
S
see
N
Y
C
ent
E rie 1st con g 4s p rio r..1998 J-J 85 4 bti 65 4 8 6 | y. 80®, 87 4 Leh Vat N Y 1st g u g 4 4 s. 1940 J - J 105 107 1054 J ’no’10
106*4 1084
81 N ov’OUl
R egistered....................1998 J-J
R egistered.......................... 1940 J - J 1 0 3 7 ,.... 107 A ug’OU
1st consol gen lieu g 4s 1998 J-J 7 ^ 78 bale 7 1 4 7 1 4 ' i 67 7 6 4 L ehigh
Val (Pa) cons g la .2003 M-N ■.......... 97 4 97 O c t’10
" 9 6 4 ’l)74
i
R egistered....................1998 J-J
V T er Ry 1st gu g 5 s .l9 4 l' A-O
114 1124 1124
112 4116*4
P enn coll tr g 4 s..........1951 F-A 87 4 Sait 87 4 87 4 1 l 8 3 4 87 4 Len
R egistered....................................1941'A-O1124
.........114
109 4 O ct ’99
50-year conv 4 > A ___1953 A-U 70 4 inti e 76
76 4 ! 67; 04 83 Loll
V
Coal
Co
1st
gu
g
os.
19331
J-J
108
N
ov’OO
i9
70 41 1 2 6 6 7 3 4
do
S eries u.1953 A-0 *l'1*
A N Y 1st g u ar g 4 s..1945 51-3 1064 . . . . 93*4 5Iar’10
93 4 96
Bull A YA E rie 1 s t 7 s ..1918 J-D 109 i 13 1 1 3 4 M ar’ 1 o' 1 113 4 113 4 Leli
R egistered...........................1945'M -S 93 4 91 4
Chic A E rie 1st gold o s ..1982 M-N 1U1 21=8 1 . 2 1 1 2
112
| 1 1 1 0 115
E
l
C A N 1st pt O s ........1914 A-O 102
10 14 F e b ’10
1014 1014
Ulev A 51ahou Val g 6 s. 1938 J-J
12t
D eo’08 1
U o ld guar 5s............................ 19141A-0100
1014 Sep ’09
Long Dock consol g 8 s ..1935 A-O 1 22 4 12 1 4 1244 Sop ’ 1 0
130 127
eh A H ud K See Cent ot N J
Coal A UK 1st cur gu 8 s .1922 M-N
1 14 1 1 1 LLeh
ltd) 4 i l l A p r’10
A W ilkesb N eo C en to fN J
D o c k * lu ip 1st c u r b s ..1913 J - J 1U0 4 ......... 103 4 O ct '09
Leroy A Caney Val See Mo P
N Y A G reen E gu g os. 1949 M. N 9.) 103 103 4 J a n To
103 4 103 4 ixm g D ock See E rie
N Y bus * vV 1 st ret 58.1937 J-J lo o 4 lc/3 1004 O ct TO BJ 99 1014 Long Xsi’d—1st con g 6s.A1931 Q -J 11 04 •
11 04 112
1 1 0 4 1104
1 0 0 4 1004 D ec’06
2d gold 4 4 s ......................1937 F-A
1st Consol gold 48....................A1931O-J
100
G eneral gold 5s.............. 1940 F-A » 8 89 89 J ’no’10 . . Jl 89 93
eneral gold 4s............................1938 J-D94 97 94 O c t'10 ,
93 97*4
T erm inal 1 st gold 5 s ...1943 M-N 10 74 .......... 108 4 O c t’1 0 . 108 10 84 GFerry
gold 4 4 s ...........................1922 M-S97 4 09 4 97 4 97 4
97 1004
liegis 4)5 , 0 0 0 e a c h ... 1943 M-N
...
£0l*l
4s............................................
1932
J-D
UU4
Oct
’06
,
97
W itk A Ea 1st gu g o s .1942 J-i) 98 4
1014 M ar’l() ! 1 0 1 4 1 0 1 4
U ulhed gold 4 s ..................1949 M- 8
93 4 M ur’10 ,
96
93
4 95
E v A ln d 1st cou gu g 8 s .. 1928 J -J 105®,
I
l
l
O
ct
’0
9
.
... .......... .......... D ebenture gold 5s............ I 9 3 4 1 J-D
1 0 4 4 Deo’08',
..........
31 lSC E l.L A iSE O U H H O AD S—C o ntinu ed oil N ext i'n g o .
<ltis m id E le c tric L ight
H us nn d E le c tric L ig h t
A tlanta G L Co 1st g 6 3 ...1947 J-D 102 .........
G E L l l A P g 6 3 ...1 948 J-D 1024 Sale 102 4 1024 35 9 9 4 1 0 3 4
M-N 105 4 105:‘i 106 4 l o s t ‘2 105 1074 N PYu rchase
m oney g 4 s ...1949 F-A 85 4 Sale 85
85 4 2 0 80 b 7
60 \ Sop TO
60®, 67
A-0 .......... 66 .....
Ed E l 111 1st cons g 5 s.. 1995 J - J 1104
1 1 1 3, 1 1 0 4 Oct TO
1114
GUO lOU 14 V O ....IO O J - J
_-_
N
YAQE1
L
A
P
I
s
tc
b
n
g
6 s l 9 3 9 F-A
1 0 0 4 M ar’io
101
1004 1014
D etroit c ity G as g o s..........192- J-J 99 101 (01 A p r’ll
i o i " 1 0 1 - N Y A Rich G as 1st g 6 s. 1921 M-N .......... .......... 97 4 J ’ly ’09
D ot Gits Co cou 1st g o s ...191? F-A
96*8 Sep '08
97
.........
Pacifio
G
A
Eleo
Co
Cal
G
A
E
E q G L N Y 1st con g 6 s ..193'. M-S
105 u c t ’ 11
01 4 i *054 c o rp u n llyin g A re t is 1 d3 , M-N 0 1 4 92 4 91*4 9 2 4 2 ! 91 93
G as A E lec Berg Co c g 5s. 1949 J-L 105 ......... 61 4 Get ’01
Peo D as A u 1st cou g Os. 1943 A-G 1164 117 4 1104 A ug’lO
11 64 U U
U r Rap G t C o 1 st g o s ... 1911 F-A 98 101 100 O ct ’09
oluiuling gold 5s............1 9 4 ', M-S .......... 1 0 2 1 0 2 Oct To
1014 104
H udson Co G as 1st g 6 s ..1949 M-N 102 4 ......... 102 Sep ’lu _ lo l 4 1034 CKhG
-L A Cke I s tg u g S s 193 , J - J 109 104 4 104 Oct TO
102
4 1044
K an c ity (Alo) G as 1st g 5s 192v A-0 97 ......... 97 M ar’l t
97 97
Con
G
Coot
Ch
ls
tg
u
g
5
a
.’3i
J-D
100*4 1 0 2
1 0 1 4 O ct ’ 1 0
1 0 0 4 102
K ing s Co El L A P g 5 s ...193'. A-O ......... 103 101 A ug’10
.00 1 0 1
I
nd
N
at
Gas
*
Oil
30-yr
5s
’3i
M-N
..........
90
94
4
Allg’Ol'
P u rch ase m oney 6 s ......i9 9 > A-C 1134 U 5 111 O ct TO
1104 115
Mu Fuel Uas 1st g u g 6 3 . 1 9 4 , M-N TOO 4 lo o t 1 0 1 M at’ll
i b i " io i'*
E d El 11 HKD le t cou g 4s 193! J-J 86 4 88 90 M ar’lu
8 7 4 90 P hiladelphia
Co conv 6s . . 1 9 1 1 F-A 99 1 0 2 1 0 0 Sop ’ll
99 105
Lac G as L ot S t L 1st g 5s.el Oil 0-1 102
102*, 102 4 i t IU 04 105
4
104
byruouso
L
igating
l
a
tg
6
s
.’5
1 J-D
98
99
98
A
llg’
1
(;
98 100
Ret suit e x t 1st g 6 3 ........1934 A t 100 100- 99 4 O ct ’If
09 1 0 1 Iro n u m G A El 1st g u s ..191;
110
.May ’Ot
M ilw aukee G as L 1st 4 s.. 192' iVl-N ....... 90 4 91
91 92 4 U nion E lec L A P Is tg 5 s .l9 3 l M S ibo
A p r’ll
93
93
6 'b it" ’ 9 3 ”
N ew ark Con G as g 5 s........194 J-D 3..........108 V .........
W estchester E ight’g g 5s. 195c J -D 1 0 2 >4
102 4
102 4 1 ( lOO 1 0 3 4
*No price Friday; la test bid and asked th is w eek, a D ue Ja n l/D ue Feb d Due A pr « D ue ila y X D b b l 'l y " fcDub A ug q D uelm o^TO D tlonO aTfc




uo

Nov. 5 1910.1

New York Bond Record—Continued— Page 3

1233

HON O S
Week.’)
BO N D S
Price
kan ge
Price
Week's 2 3 k a n g e
N . Y. STOCK EXCH A N G E!
kange or
Aince
F riday
STOCK E X C H A N G E
F riday
kan ge or 5 o Aince
Last Sate
A'ov 4
January/ I N. Y.
W eek KNWNi, N o v 4
Last sa c
Kov 4
W eek E ndino N ov 4
J a n u a ry 1
Am
ASS Lon liia n
L o n s Island—(Con)
Low High, N Y c e n t A H K—(Con)
Ant
A sk Lou
h
■'l0 Poio High,
G uar ret sold 4 s................1949 M-S 96 H Sale 9 0 4 90S.
94 4 100
Mich
c
e
n
t
ooll
«
3
4
s
....l9
9
S
80 8 0 4 8 1 4 Oct TO
78 8 9 4
B klyn A M ont 1st s Os..1911 M-S
R egistered................. iy<ty
......... 7 9 4 ’ 79 4 A ug' 1 — 7n-4 7 9 4
101 4 D eo’08
1st 5s..................................1911 M-S
Beech c re e k 1st gu g 4 s .1930
9 8 4 ...........! 98 O ct TO — • 97 98 4
11054 N ov’06
N Y B A M 151st con g 5s 1935 A-O 103 ..
U
egistered................
1936
98 4 ..........'102 M ai’04
105 A p r’07
JSI Y A it B 1st g 5 s ..... 1927 M-S 101 ..
2 (1 xa, gold 5 s................11930
1o 5 * 4 .......... 1..........................
109 N ov’OO
N o r Sh B 1st coil s s n 5sol93 2 Q-J 101 ..
Beech Cr E x t ls tg 3 4 s 61951
8 4 4 ..........1..........................
L ouisiana A A rk 1st g Gs.1927 M-S 947s ......... 97 N ot ’09
C
art
A
Ad
1st
gu
g
4
s
...
1981
...................... | 97 4 A p r’09
L ouisv * M astiv gen u 5s. 1930 J -1 114 110 115’a 1 15 S>l
112*4 11634 w0 ,fv i 6 \ ti 8 wf' l 8 t Sn fr 5 3 1942
Gold 5s..................................1937 M-N * ..........113 113 O c t ’ 1 0
1124 114
Moll A Alai 1st g u g 4 s ..1991
OS’s J ’ne’lo
984 994
U nified gold 4 s.................1940 J - J 98 Sale 97*4 93
9
6
4
1004
N
J
Ju
n
o
it
gu
1st
4
s
...1986
105 o ct '02
100
Alay'09
R egistered.......................1940 J - J
N
Y
A
H
arlem
g
3
4
s
...2000
93
A ug’10
" 9 3 " ‘*93 4
S ink tuu d gold 6 s............. 1910 A-0
100 Si D ec’09
£
*
*
N
o
rth
1
st
g
6
s
...1927
108
O
ct
’U9
107 Si S e p ’ll.
Coll tru s t gold 5 s.............. 1931 M-N 103
1U7 110
N Y A P u 1st con g u g 4 s 1993
9 6 4 98 4 9 0 4 O ct ’J 0
954 984
115 n e t ’10
E 11 <& N ash 1st a Os....1 9 1 9 J-D 112
111*4 115
N or A A lont 1 st g u g 6 s.l9 1 6
L C in A L e x « o ld 4 4 s ...l9 3 1 M-N 101 106 105 O c t’10
103 108
Pine Crook reg gu ar Os. 1932
1 3 1 4 iau 'u U
124 M ar’lO
N O A M 1st gold Os___1930 J-J 121
124 1254 It W A G con I s te x t6 s ./il9 2 2
1 0 6 4 HO** 10/ O ct TO
107 110
N O it 11 2d gold Os........1930 J-J 115 ........ 118S) 118 4
1 1 8 4 1 1 8 4 Oswo A It 2d gu g 5 s ...<,’1915
105 JaD 'O b
..........1054
Pensacola D iv gold Os...1920 M-S 1054 111 1074 M ar’lO
107-4 110 4 It W A O T R 1st g u g Os.1918
103 . . . . 104 J ’n e’10
*
104** i*04 *‘
8 t L D lv 1st gold Os........1921 M-S 113‘6 ........ 113 S e p ’10
113 114
R
utland
1
st
con
g
4
4
s
..
1941
05 . .. . 102 4 Fob TO
1014 102 4
2(1 gold 3s......................... 1 9 8 0 M-S 08 ........ 71 May’09
Og&ECUam ls tg u 4 s gl9 4 8
83 4 87 84 O ct TO
80 4 914
93 S. Sop ’10
‘bT * ' 9 5 4
A tl Knox A C m dlv 4 s.. 1955 M-N .......... 95 *2 110
H
ut-Canad
1st
gu
g
4s.
1949
92
J
ue’OSi
J'iy '0 0
A tl Knox A .Nor 1st g 5 sl9 4 0 J -O 10 U s ........
St
Haw
A
A
dlr
l
s
t
g
6 s. 1990
115
JT
ie’09
110
J
a
n
’09
........
H ead er Bdgo 1 s ts rg G s.1931 M-S 103
2d gold Os......................... 1996
125 F e b ’OS
95
Sale 95
944 97 4
K entucky C ent gold 4 s.. 1987 J - J 90 105
tica A B lk K tv g u g 4 s.l9 2 2
100
.......... 1 0 0
100
100 102
*s 102 Slop'1C
102 105 4 LUake
. L A N A M A A 1 1 s tg 4 *031945 M-S 102
S
hore
gold
3
4
s
___1997
..........
92
90 4 9 0 \
I 90 92 4
0
0
4
UCC
’10
......... 91
89
4
92
L A N -south A1 joint 4s. 1962 J - J 105
K
egistered....................1997
88*4
9
0
4
89*4
O
ct
To
1
88 92
N F la A a 1st gu g 5 s ... 1937 F-A 93 .. .... .. 100*4 A ug ’ 1 0
1004 111
D ebenture g 4 s..............1928
0 3 4 Sale 9 3 4 93 4
i 02 9 5 4
N A C Bilge gen gu g 4 Sis 1945 J -J 11054 ....
25-year
g
4
s
....................1931
03
4
Sale
93
93
4
92
964
iio U o c t ’Yu
P ens A AM 1st gu g O s..1921 *'-A
i ‘l0 4 i l 0 4
1 1 0 4 ..........
K a A A G H is t gu 0 5 8 . 1 9 3 8
no
8 A N A la con gu g 5 s..1930 l11-A ..........114 1 1 0
1094 111
114 117 ib o " oct*’b*7
Alanon C’i ltK fa t 5 s ..1934
94
L A Je ll Bdge Co gu g 4 s ..1945 M-S 90 ___ 94
88 4 92
100
........ 100 D eo ’ 0 0
P itts A L E rie 2d g 5s.alU 28
L N A A Ch Ace C 1 & 1.
122*4........ 130 4 Ja n ’09
P itts M cK & Y 1st gu 08.1932
ahon Coa> Aee L S A M S
120 ........
M an
h atta n U ycon sol48.1990 A-0 97 974 9 7 4 97 *a 10 03 4 9 8 4
M cK ees A B V l s t g 6 s 1918 J - J 107 ........
Iteg istereo....................1990 A-0
104 A p r’06
M ich C ent 5s.......................1931 M-S 109*4 113 1 1 0 4 O c t’lo .... 11 04 1104
Stm pd ta x ex em p t.. 1990 A -0 U8 b4 Sale 0 « 4 9834
94 4 99 7<
R eg istered ....................1931 Q-M 1 0 8 4 ........ .1 1 9 J'u e ’06 ***%|
MoK’p tA B V Heels Y c e n t
..........................................1940 J - J 07 9 8 7,3 99 J a n Tu m il !|9 9 0 0
99 99 4 99
M oxC ont cons g 4 s............1911 J - J
99 10 96*4 99
, 98 D ec ’09
K egistered................... 1940 J - J
3 1 Tg M ay’ 10
1st cons mo g 3 s......... a l 9 3 9 J ’ly
2
7
4
317g
J
L
A S 1st g 3 4 s .........1951 M-S
. 90 J ’ue Ub
2d cons ino g 3s tr u s t re c ts .. ___
25 Si A p r’09
1
st
g
3
4
s
.........................
1952
M-N
8734
.
87 A p r’10
b7 0 0
Mox In te rn a t 1st con g 48.1977 M-S 70
77 M ar’lO
76 77
20-year deb 4 s................1929 A-O 90 92 9 1 4 O ct TO - " ij |I 89
924
Stam ped g u a ra n te e d ___1977 M-S
80 F e b ’ 0 8
B
a
t
c
A
S
lu
r
1
st
g
u
g
3S.1989
J-D
Mox N orth 1st gold Os___1910 J -D
100
Alay ’ 1 0
100 100
N Y Ohio A S t L 1st g 4 s 1937 A-O 09 7» Sale 9 9 4 lo o 13 1 0 7 4 1 0 0 4
M ich C ent Aee N V C ent
K
egistered.......................
1 9 3 7 A-O
,
100
I)e
c
’O
0
........
•J8
4
Mid ot N J Aee E rie
D ebentures 4 s................1931 M-N 91 91* 1 0 1 4 O ct TO
00 92
Mil L a A VV Aee Ohio A N W
W est Shore 1st 4s g u ...2361 J - J 1 0 1 4 kaie 10 04 10 14 **4*2 9 9 4 1 0 2 4
MU A N orth Aee Oil M A S t P
13
R
eg
istered
.......................
2301 J-J
100
Sale
0
9
4
100
9041004
M inn A S t L 1st gold 7 s ..1927 J-D 130
131 May ’ 1 0
131 131 N Y A G reen w Hake Aee E rie
118 J a n ’07
Paoitlo Ex 1st gold O s...1921 A-0 111
N Y A lia r Aee N V C A H ud
South W est E x l s t g 7 s .1910 J -D
100 S, J ’ly ’io
ib‘6
4 io i"
N
Y
L
ack
A
W
Aee
D
L
A
W
1st consol gold 5 s..............1934 M-N ..........107 107 O c t ’ 1 0
1 0 2 4 100
N Y H E A W Ass E rie
ls ta n u rotund gold 4 s ..1949 M-S 72 74 4 73-la O ct ’lo
67 4 8 1 4
Aee C ent of N J
Dos M A F t D 1 st gu 4 s... ’35 J - J .......... 87 87 M a r’lO
87 0 1 4 ■NN YY AN EHo uAg iBl r—Conv
7
6 s ..1948 J - J 1343i Sale 1344 135
1354
M inn A S t E gu Aee B U It A N ,
Couv
deben
3
4 s ..............1950 J - J 10 1 4 kale 101*8
1014 84 i1304
9641034
064100
M S tP A S S M c o n g 4 in tg u ’38 J - J 0 7 4 9 7 4 99 78 44 JSae np ’’lo
iio u sato n io K con g 5 s ..1937 M-N
121 1 1 2 4 O ct TO
1 1 2 4116
10
M S S Al A A 1st g 4 ln t gu 1920 J - J
0 8 4 08 4 N l i A D erby con cy 5 s .l0 ls M-N 1112
0 0 4 ......... LU7
Axig’OU
M inn Un Aee S t P Al AM
c A li
Si OS3*
96 4 1 0 0 NN YY AO AN oWrthre t 6l'sss t Ng 4Ys ..ff1092
Mo K an A T ex 1 st g 4 s ...1990 J-D 9838 Sale 97
M-S 9 6 4 9 7 4 9 6 4 97
84 4 84 4
2(1 gold 4 s...........................oi9U0 B'-A 8 3 Si 8 dSi 19334
82
87
4
86,000 only..........«1992 M-S
101 4 J ’ue’OO 13| | 95 98
Sep n o
100 105 N RYegis
1st e x t gold 5s.................1044 M-N 1 0 2 .........
A P u t Aee N Y C A l i
1st A rotun d 4s................. 2004 M-S 80S» 83 80 4 o c t ’ 1 0
N
Y
A
it
B
Aee
Long
Island
7
8
4
85
4
Gen s t 4 >28 .....................1930 J - J 8 6 7g Sale 8 6 4 05 4
83 4 0 0 4 N Y S A W Aee E rie
8 t E D lv 1 st rot g 4 s___2001 A-0 •.......... 81 8 8 A p r’uu
N Y T ex A M Aee So P ac Co
Dal A VYa 1st gu g 5 s ...1940 M-N 100 4 .......... 105 J ’ue’10
lob lo b N or A South 1st g 6 s..........1941 M-N 1 0 0 4 .......... 101 Mny’10
100
1 0 1 4
O c t '1 0
K an C A Pao 1st g 4 s ...1990 B’-A 89 4 914 1 91
90
93
4
N ort A W est gen g 6 s ........1931 M-N 125 126 125 4 Sep TO " « 2 123 12 64
Mo K A E 1st gu g 6S ...1942 A O 109 Si 1 1 0 Si 1 0 4 O ct ’lo
106 113
im p ro vem ’t A e x tg c s .,1 9 3 4 F-A 1 2 2 123 1 2 0 M ar’iu
[1
2
4
4
1
264
AL K A Ok 1st gu 5 s........1942 M-N 106 Si sale 10 04 1(JU‘
.103
1084
R iv er I s tg O s ........1932 A-0 1214 125 123 M ay’KJ
123 1244
M K A T o t T 1st g u g 58.1942 -M-S 1 0 2 10041104*8 104 4
100 4 1 0 5 4 NN ow
A W R y 1st con g 4s. 1990 A-O 99 sale 99
99 4 1 **2*i s'6 4 1 oo
Slier Mil A So 1st gu g 5 s .1943 J-D ..........109 H 0 4 Apr-’09
R
eg
istered
.......................
1 9 9 0 'A-O
97
A
p
r’10
9
/
97
T ex A Okla 1st g u g 5 s ... 1943 -M-S 104 109 105 S e p ’1(
105 103
D iv’l 1st l A gen g 4 s ... I 9 4 4 IJ • J 0 2 4 sale 02 4 92 4 ! 0 91 0 3 4
Mo Pacific 1st con g Os ...1 9 2 0 -M-N 107 4 BIO 110 HO
Jj:107 111
10-25
year
conv
4a___1932
J-D
1 0 0 >8 sale
100
1 0 0 4 , J io
9
4
4
1
9
T ru st gold 5s stam ped.«1U 17 M-S 10 14 1014 1014 BUl't 3|100 102*..
C A C jo in t 4 s.. 194lj J -D 8 6 4 90 8 8 4 884 0 80 4 903 44
9 9 ‘4 M ar’lu
... 99ss 99®8 C CPocali
R e g iste re d ....................«1017 M-S
A
T
1st
J - J ......... . . . . . . 100 A pr TO .... 1 0 4 4 1 0 6
1st coll gold 6s....................1920 B’-A 1 *0*6 4 10T 1 0 1 4 Sep To ...1100 102", ht80.1? Y ,* **Kg ul8gt «5 s..........1922
1
96
94 9 6 4
u « i*
78 4 UG 75 8 1 4 N orth Illinois aee Chi
40-year gold loan 4s........1945 M-S 77 78 78
& N VV m -n 9 5 4 ......... 00
3d 7s extd a t 4% ................1938 M-N .......... 0 8 3< O6 4 N ov’09
N
orth
Ohio
Aee
L
E
rie
A
W
1st A re t conv 5 s .............1959 M 3 U3 <4 Sale 93 4 934 11 89 90 N or Pac—P rio r lieu g 4 s. . 1 9 9 7 Q J 100 Sale 99 4 1004 69 99 1024
C ent Hr Ry 1st gu g 4 s .1919 l: -A 92 4 93 02 4 O ct 'lo
R eg istered ....................... 1 9 9 7 y . j
9 1 4 05
......... 0 9 4 O ct T o
1 084 101
Ceu B ranch U P I s tg 4 s .lU 4 s J-D 83 4 86 7s 87 4 Alay’10
80 87 4 G eneral lieu gold 3s___«2047 y-l<' 79 19 44 sale
VI
7 1 4 |* 13 69 4 74
L e r o y A C V A E ls tg S s 1920 J - J "bo” " 97 "' 110 Alar’05
R
e g iste re d ....................a2047 y-B’ . . . . . . ____ _ 70
Sep TO
69 72 4
90 4 96 4
Pao it ot Alo 1st ox g 4s. 193s F- A
S
t
P
aul-D
ul
D
iv
g
4s___1996
J
-D
*064
‘
1*
0*64
90 .......... 97 M ar ’ 1 0
964 974
2d extended gold 5 s ... 193s J - J 11 04 112 4 1 1 0 Sep TO
110
113
D ul S h ort L 1st gu 5 s ..1916 M-S 99 7g ......... 09 F e b ’ 1 0
00 09
8 t E i r A lA S gencon g 5 sl9 3 1 A-O 1 0 7 4 1 0 / 4 1074 to 7 4
1064
n
o
o
B
A
y
coll
tr
4s
Aee
G
t
N
or
111 S e p ’09
G e n o o n sta in p g td g 6 sl9 3 1 A-u 106
S t P A N P gen g O s....1923 F-A 116 .......... 1164 3 c t ’BO ___ 1164 1184
U nllled A rel gold 4 s ..1920 J - J 8 4 4 85 4 8 4 4 s5
81 80
R egistered cerU hc’a ..l9 2 3 Q-F 1 1 2 .......... 1 1 / F e b ’10 • ••• 117 117
UlV A U D lv 1 st g 4 s.. 1933 M-N' 84 4 Sale 8 - 1 4 r
8
2
4
8
7
4
S
t P aul A D ul 1st 5 s___1931 F-A 107 4 ......... 1 1 0 J ’ne ’ 1 0
110
110
1 0 2 4 J a n TO
V erdi V 1 A VV 1st g Os.1920 M-S
102
4
1
0
2
4
2(1
5 s ................................... 1 9 1 7 A-O
103 O ct TO .... 103 1 0 3 4
98
D
ec’00
Mob J A K C 1st cons g 5 s .1903 J-J
1st consol g o ld 4 s..........1908 J-D 93 .......... 9 0 4 A p r’io
9 6 4 97 4
Mob A Ohio new gold O s..1927 J 3 117 4 122 1 1 7 4 O ct T o
16
1-214
W
ash
c
e
n
t
1st
g
4
s
..........1948
y-M
2
9 1 4 .......... 92 4 92 4 3 92 4 9 2 4
1st extension gold 0 s../il9 2 7 y-J 1144 U 7 4 114 4 Sep TO
180
1 444 1 00
1 7 4 N or Pao T er Co 1st g Ga..1933 J - J <*1114..........
11 14 I l l 's
1 1 0 4 111 4
G eneral gold 4 s................. 193s -M-S 8 6 90 8 0 4 O ct TO
N or R y Cal Aee so Pao
109 4 Oct TO
M outgom Div 1st g 5 s ..1947 F-A 109 4 107
1094
N
or
VV
is
Aee
C
S
t
P
.u
A
O
75
Alay’08
8 t L A Cairo coll g 4s..«1930 y -F 80 ,
N or A M ont Aee N Y C ent
9 1 4 O ct ’1(*
G uaranteed g 4 s............1931 J J
04 4 00 (
L' AA SOt L
Al A O coll 4s Aee Southern
V ^hio R iv W.R H. Aee cualt
M ohawk A Alai AeeH V c A li
O re A Cal Aee So P ac Co
M ouougahela Ulv Aee B A U
O
re
S
h
ort
L
ine
Aee
Un
Pao
M ont C ent Aee S t P Al A Al
Oswego A Rome Aee N Y C
M organ’s Ea A T Aee S P Co
p
a
c
Coast
Co
l
s
t
g
5s
. . . . 1 9 4 6 J-D
10 44 104 4 104 105 1 2 1 0 2 4 1 0 8 4
M orris A E ssex Aee Del L A W
X ao ol M issouri Aee Mo Pac
C liat A S t L i s t 7 s . 1913 J - J 1 0 0 4 ......... 1064 1064
P
enn
B
R
1st
real
e
st
g
4
s.
1923
M-N
..........103
N ash
1
0
6
4
1
1
0
4
102 A ug’iO
102 10 34
109
<
4
..........
A-U
1st consol gold 6 s..........192s
110 llo ,4
[1 0 8 4 1 1 0 4 Consol gold 5s....................1919'M-S ..........1 1 0 1004 J a n ’09
Ja sp e r firauoh 1st g os.,1923 J-J 1 16 -j 1184 116 7* 115 4
gold 4 s....................1943'M-N .......... . . . . . . 1 0 2 4 Oct ’ 111
1 0 2 4 ib a *
MOA1 Al \V A A l 1st Os..191 < J -J 100 4 .......... 117 4 M ar’051 '1 1 5 4 1 1 5 4 Cousol
C onvertible g 3 4 s ___ j .. 1912 M-N 98 4 99 4
9s4 “ 9 974 102
T A P B ranch 1 st Os___191'. J - J 100 4 .......... 113 J ’l y ’o i ;
C onvertible g 3 4 s ............ 1916| J -D 05 7s kale 90 57 44 96
H65 9 4 4 9 7 4
N ash Flor A Shot Aee E A N
..................1948
M-N
Consol
gold
4
s
1034
10
3V 4 4 1014
103
1934
J
J
N at tty s ot Alex p r I4*..s 195'.
0 4 4 Sale 9 4 4 9-14*
A
ileg
Val
gen
g
u
g
4
s
...
1942!M-S
___ 1 0 2 4 11044
93
4
95
4
...............
100
O
U
’IUI
024
G uar gen 4 s........................ 1977 A-O .......... 004 0 0
00
I
1
4 02 4 D R R li A B g e ls t gu 4 s g .’36 F-A 94*4........
N ato l Alex prior lien 4 “as. 1920 J -J 1004 104 1 0 0 -\ Sep T o 1. 187
PhU
aB
al
A
VV
1st
g
4
s
..l9
4
3
iM-N
0
0
4
1
0
2
4
1 0 1 4 .......... 1 0 3 4 D eo’09:
1st consol 4s........................1951 A O 33 81 4 85 Get TO .
82 85
Sod Bay A So 1st g 6 s . . .10241J - J 1 0 0 .......... 1 0 2 J a n ’031. . . . ___’’
Now H A D Aee N Y N 11A 11
U N J R R A C a u g e u 4 s.l9 4 4 :M-S
1 0 3 4 Muy’10
0 3 ” ib*i“
N J J uno ltlt Aee N Y C ent
Peun
Co—G uar 1st g 4 48.1021' J - J i*03 i*044 1044 1044[ 2 1103
N X lik ln A Alan Boh Aee E 1
R
eg
istered
........................1021'
J
J
102
..........
1034 F e b ’lOi. .. . 1 0 3 4 106
1034
N Y C ent A 11 H lv g 3 4S.10O7
89 Salo 88 4
8
9
4
92
Guar
3
4
s
coll
tru
s
t
reg
.U
W
'M
-S
8
7
4
90
A
ug’10
1
88 4 ......
.... 90 90
K eglstcrod..............
X997
87
8 6 4
G
uar
3
4
s
coll
tr
ser
B
...
10411
F-A
8
0
4
J
’l
y
’B0
00
4
8 8 4
90
8
8
4
O
ct
’
0
88
014
D ebeu g 4 s..................” " l9 3 4
04 *944 9 4 4
02
914’
054 T r Co c e rtit’s gu g 3 48.1916 M-N 9 7 4 Sale 9 7 4 9 ? 4
95 4 9 8 4
Lake Shore coll g 3 Sis..,199s
. 804 Sale | 80
304
U u 3 4 s tr ctfs C ...............1942 J-D .......... 89 4 87 A ug’i o 1
7
9
4
82
4
87
90
lto g istered ........................lyy*,
. 78
78 80 4 G u 3 4 s tr ctfs D................1944 J-D 8 8 4 « 0 4 01 D eo’09:
8 0 ‘s1
a
J llS C B tL 1N B O U 8 U U N U 8—C ontiiiueil 011 N ex t P a g o
C oal a n d Iro n
Buff A S usq Iro n 8 1 6 s ....1932
.U n n n fu ctu i'iu g Jc In d u stria l
0 9 4 N o v ’O9
904
D ebenture 5 s.................a 1920 M-S 00
D co’09 .... ............... A llls-C halm ers 1st 5s........1936 J - J 77 78 78
78 4 37 72 3 4 4
Dot l' A 1 Co gen s 1 g 6 s .. 194.. h -A 05 08 4 94
08 4 O ct T( .... *90 101 A m A g Chern 1st o 5 s........1928 A -0 1 0 1 4 1021, 102 102
103
C onvertible deb g 6 s ....1911 F A
984 90 4 J ’ne’10 . .
03 9 6 4 Am Cot Oil e x t 4 4 s ............ 1916 4 -F 97 4 9 9 V, 9 8 4 O ct TO 6 100
93 4 9 8 4
Col In d u IstA coll 5s gu.,1034 F-A ...70. . . 73
78
78
70
82
‘
a
Am
H
ide
A
L
1st
s
f
g
0
s
..
1919
2
AJ-S
04 Sale 04
94 " i t 92 102
C ontln’tuLC l s t s t gu os g.1052 F-A
A m er Ice s e c u r deb g 6 s..l0 2 5 A-0 6 0 4 72 6 6 4 66*i 6 66 4 7 3 4
Br lL v Coal A C 1 st g 6 s ..1910 A O 90 100 1
Am S p irits M fg I s tg O s ..1015 M-S 07 1004 101 O ct TO
94 101
f e lt* Clear C A I Is tg 5 s .l9 2 « J-D ........ ........1
Am T hread 1 st col tr 4 s ..1919 J-J 9 1 4 93 93 O ct TO
89 93
Kan A H C A C 1st s 1 gS s.l'Jo l J - J 97 100 1 2 Alay’07
D
ec’06
Am
Tobacco
40-yr
g
Os___1944
A-O
10
64
1044109
10
6
4
Sale
*
40
1064
Pocali Con Collier l s t s t 5s-’57 J - J
89
J ’ne’lo .... 83 83
4s..............................................1951 F-A 8 0 4 Sale
804
70 4 86 4
Sunday C reek Co g 5 s___1911 J J
l'’c b ’u7 ....
Beth S teel 1st e x t s i 5 s ..l9 2 t J-J 86 4 Sale 88 06 44 86 S 142
22 83 4 89
Tenn co al gen 5 s............1951 J - J i ’0 2" iba” 1
Sep
To
lo
u
t
L
eather
20-year
g
5s.
1921
A-0
ib*2**
1*044
994
99
114 97 102
9
9
4
Sale
T enn D iv 1st g 0s.......al01 7 A -0 1044106 1 j O ct TO
103
107
Consol
Tobacco
g
4
s............195J
F-A
8 0 4 .........
4 804 4 7 0 4 8 3 4
; B lrni D lv 1st consol 6 s ..1917 J-J 1044100 1
Sep TO
10 34 107 Corn Prod R et s f g 5 s __ 1931 M-N 9 5 4 ......... 80
95 O ct TO .... 93 97
; Cah C Al Co 1st gu g 6s. 1922 J -D 106 ........1
Ja n ’09
1st 2 5 -y e arst 6 s................ 1934 M-N 95 954 94
934 96 4
4 O ct TO
Do B arO A 1 Co g u g 6s. 1010 F-A ........ ........1
Ja n 'lo .... 100 100 Cuban-A
m
er
S
u
g
a
r
coll
tr
fc's’18
05
97
9 0 4 J ’ly T 0
4-0
90 97
Vlotor F u el 1st s t 5 s..........1053 J - J
A ug’09
D
istil
moo Cor conv 1 st g 5 s .’27 A-O 75 Sale 7 4 4
1Y6
75
4
75 4
V alron Coal A C o la t g 6S.1049 M-S *98 ** ’ *984
O ct TO .... ’ *0*44 i*o‘b** E I d u P o n t P o w d er 4 4 s .. 1931 J-D 84 86 85 J ’ly TO —
S8

I *Noprloo Friday; latest bid and asked. a D u e Ja n 6 Duo Fob e Duo May ~g Duo j 'no h Duo J ’ly fcDue Aug



0

Duo Oct » Due Nov q Due Deo f F lak

1234

New York Bond Record— Page 4— Concluded

[VOL.

LXXXXI.

BO N U S
Wee,fc’.? ~
Range
BO N U S
P ries
Week's ’S si Range ;
Range or
Since
N. Y. STOCK E X C H A N G E
Since
t'riilav
Ranqe or S o
N. Y. STOCK E X C H A N G E
Last
Sale
J
a
n u a ry l
J
a
n
u
a
ry
i
Nov 4
Last Sale
W eek E xdino N ov 4
W eek E niunu N ov 4
bm
ASK Low High, A’o J,mu H igh
tim
ask Low
H iah A 0 Low H igh
P en n sy lv an ia Co -(C o n )
9178 Sn!t 9 4 34 05 | 67 03*4 9 5 7s
94*2 00
08 Oct TP
G uar 15-26 year g 4 s ....1931 A O .............................
108 108’a D>8 108 I 2 103*8 l l l a4
Cl A M ar 1st gu g 4 'u s.. 1035 M-N 1 0 0 ____ l l h Jim »():*»
110 May’0 0 ...............................
B egistored....................... 1004 J
Cl A F gen gu g l o s s e r A .’42! J - J 103*2.......... 1 10 * 4 Ja u MO . . . . ...................... Develop
73 81 7g
TO^s sale 76*4
A gen 4s Ser A . 1050 A
Series 13........................... 1942 A-O 103*2.......... 109*4 J ’ly ’00
86 00 8 6 ‘-4 O c t ’ 1 0 ....'I 85 0U*a
Mob A Ohio coll tr g 4 s.. 1038 M
Series C 3 * 2 8 ...................1948|M-N ‘ 10 ......... 06 A ug’UO |
103 103 108 Sep T O :.... 106 HO
Mem D iv 1st g 4*2-5s...1996 J
00
M
ay’08
.
S e n e s Do* 2 S.................. 1050 F-A 90
80*2 87
85 8 8 85 O ct 10
92 ie ......... 91 Sep TO
S t Louis div 1st g 4 s___1051 J
91 91
E rie A P itts g u g a Ta B.lU 4l)(j
106 >8 . .. . 108 sep ’08
A la Ceu B 1st g 6s..........1018 J
08*4 Apt ’04
Series C............................1040 J - J
80 (4 ........ 03 S o p ’ll) ...II 93 03*8
A tl A D anv 1st g 4 s........1048 J
Oc K & 1 ex 1st gu g 4 *281941 J - J 1 0 0 ” i06*8 104 *2 Get ’00 1 104*2 106
82 * 2 ........ 82 Hi 32*11 5, 82*2 82*2
2(1 4 s ...................................1048 J
104 *2 O ct TO
P itts F t VV A O 1st 7 s ...1012 J - J 104*4......... 104*8
70 ........
A ug’ 1 1) ** : 104*8 lU57e A tl A Yad 1st g gu ar 4s. 1949 A 106
104*4.........
2il7e....................................1012 J - J 104
........ 100 J ’ne’09 ..
Col
A
G
reenv
1st
6s........1016
..........
107
“
O
c
t’08
J
3(1 7 s................................ A1012 A-0
110
106 100 110 F o b’10 .. 106
E T Va A Ga Div g 5 s ..1930 J
M ay’10 ___| 1 0 0 1 0 0
P itts YA Ash 1st con 6 s .1027 M-N 107 .......... 100
11 l O ct TO .. 100 114*9
Con 1st gold 5s.............. 1956 M 110
107 Out TO
107 107*8
P O C A S t 1. gu4*as A ...1 0 4 0 A-O 105 107*8 107
106
100
Feb
T
O
..
106
1
0
3
*
2
1
0
7
3
4
100*2
........
E
T
en
reo
r
lien
g
5s........1038
M
O
ct
TO
.
.
.
.
105
108
Series B g u a r............................1042 A-O
_ N ov’oO
.......... 67 1 65
1 0 6 * 2 Sep 10
106*2 106*2 Ga M idland 1st 3s............1046 A
Series C g u a r..................1042 M-N
113 .......... 1334 Sop TO ... 111*8 113*4
98*2 Del TO
07*4 0834 Ga Pao tty 1st g 6s..........1022
Series 1) 4 s g u a r.............1045 M-N 07*2.........
116 117 116 O ct 1 0 ... 114 116
K nox A Ohio 1st g 6 s ...1025
04 04
‘r j......... 94 J ’l y ’lo
Berios K 3 Si g u ar g ___ 1040 F-A * 93
105 * 8 .......... 1151*8 A p r ’ 0 6 .
.........
M obA B irp rio rU e n g 6 s l0 4 5
S eries P 4s g u a r ...........1063 J - D 07 * 8 .............
70 .......... 82 N ov’08
M ortgage gold 4s......... 1045
111*2 112*2
112 *2 Sop TO
C S t D A P 1st con g 5 s .1032 A-O
10 4 - 107 *2 105*8Get TO0 .... I 0 5 *v 106*4
ttieli
A
D
an
con
g
6
s
....1
915
Pensacola A A tl bee D A A'ash
104*8......... 105*, M ay’10 .. 106 107*4
D eb 5s stam p ed.............. 1027
Peo & B ast bee O C C A S t D
71*8......... 75 O ct ’08
112
112
Bicli A M eek 1st g 4 s ...1048
.......... 112 Fob TO
Peo As P ek Uu 1st g 6 s ....1021 Q-F 105
103*4......... 103*4 O ct TO
So C ar A Ga 1st g 6s___1019
06 Oct TO
00
00*2 05
2u gold 4SiS....................... 61021 M-N 0 0 * 2 70*4
ll)5 * ,.......... 1 1 2 Oct ’06
V irginia M id ser C 6 s ...1016
70*8 71*4 4 70 78 70
P e re M arqu ette—Ke£ 4 s .. 1955 J - J ..........
D ec’06
10338 ......... 108*2
Series D 4-5s.................. 1021
01
Sep To
100
102U
Oil A W m o s ..................1 0 2 1 J -D 101D 104 1108*2
10538 ......... 1073, D ec’00 ,
Series K 6s........................1926
TO . . . . 108*2 112*4
F lin t <6 P M g Os................1020 A-O 108*4.......... 101 ASep
105*«......... 105*8 J ’lj TO ... 105*2 107<*»
G eneral o s........................1036
10 __ _ 1 0 1 1 0 1
1st cousol gold 6s..........1030 M-N 102 103*4 105 O ug’
105*9
106*8......... 105 O ct TO ... 105*2
G uar stam ped............1036
ct TO . . . . 1 0 1 1 0 0
P t H uron Div 1st g 5 s .1030 A-O 103 106*2
86 .......... 01 F e b ’10 ... 0 1 0 1
W O A W 1st cy gu 4 s .. 1024
S ag T u s A H 1st g u g 48.1031 F-A
104 .......... 1 0 6 *8 May’lb ... 105*2 106**
W est N C 1st con g 63..1014
Ph il II A \V bee P e n n UK
A N A la See D A N
P h ilippin e By 1st 30-yr s 14a’37 J - J 8 6 80 89*a J ’Jy ’1 ° . . . . 8 8 0 0 SSpokane
106 l0 6 ‘, Sep ’(
In to rn a t 1st g 5s 1955
P itts Cin A S t L See P en n Co
104 106 104 '4 O ct T ___1104*4 107*2
' I ’er A of S t D 1st g 4*^3..1030
P itts Clove A To! bee B A O
100 A ug1!
108
100
115*2
1
1st
con
gold
6
s
....1804-1044
P itts F t VV A Ch bee P en n Co
98
06 08*9
07*2 l>7 .
G en refund a I g 4 s..........1053
P itts M oK ees A V beeN Y Cen
100 May’10
1U7
100
109**
S t D M B g e T e rg u g 58.1031)
6 112
112*8
*« J ’ly
H ’07
2 1*
P itts Sh A D D 1st g 6 s ...1040 A-O 112*8 Sale 1 01 32 ,B
T ex A N O bee So Pao Co
1 st cousol gold 5 s.. ........1043 J - J
110*8 110*8 1 1 0 * 8 Oct TO
108*2 112*9
T ex A Pao 1st gold 6s........2000
P itts A W est bee D A O
70 70
2d gold ino 6s....................j ’JOOO
......... 65 70 ila r ’10
07 100
08*2 Sale 08*9 „ OS,5* .139
1 ) eailing Co gen g 4 s........1097 J - J ..........
bep
’00
103
...
Da
D
iv
B
D
1st
g
6s........1031
98*8
....
07
*s
Sep
TO
05
08*4
08*8
I-V B egistered...................... 1007 J -J ............. 09*4
A N W 1st gu os ’JO
106*2 Nov’04
07*4 °7*« 1 96 98*4 To!WAMOinCW1st
Je rse y C ent ooll g 4 s ...1051 A 0
g 6s................1936
107 *4 109*2 107*2 Oct TO ::..iiio o 1 1 2 * 9
U ensseiaer A Sar bee 1) A 11
105 1 H *a 112 sop ’09
W estern D iv 1st g 6 s ...1036
Bloh A D an bee S outh By
00 1047a
lu i *2 103 09 A ug’10
G eneral gold o s..................1035
Blch A M eek bee S o uthern
88*g..........
00*9 94*4
04*4 M ar’le
K an A M 1st gu g 4 s ....1 0 0 0
Bio G r W est bee Don & Bio Gr
0 1 *8 .
Sop
’
10
03*9
03
T
ol
P
A
W
1st
gold
4
s
....1
017
Boch A P itts bee B I t A P
00
8 8 *2 ,
87 A uglO
X o lS tB A W prU en g 3 ‘3 8 . 1 0 2 6
Home W at & Og beeH Y C ent
81
76 77 O ct TO
60-year gold 4s.................. l05()
B utlauu bee N Y C ent
83
80
83
83
80*2
80*4
Coll
tr
4s
g
Ser
A
............1017
T u s A 11 bee P e re M arq
S ag
86*4
80 J ’no'lG
87*4 01
89*4 2 83*» 94 T or H am A Burt l s t g 4 s./il0 4 0
t J o A G r l s l 1st g 4 s ...1047 J-J 84 96 89
J
’uo
10
103'a
107
1 U0
106
103
lste
r
A
Del
1st
co
u
g
0s
1028
8 t D A Cairo bee M ob A Ohio
U 1st refun d g 4a............1052
84 87 86 u o t ’u 0
St L A Iron M ount bee M P
lo 1 *4 sale 1 0 1 * 8 1 0 1 H, 0 0 003, 1 0 2
U n P a o B B A 1 g r g 4s ...1 047
S tL M B r bee T B B A ol tit B
100
........ 100 O ct 'll)
98*2 1 0 1 * 2
B egistered........................1047
S tD o m s A S F —T eng Os. 1031 J - J 117*4 ............. 120 A pr TO . . . . 120 124
101 116*4
10a *2 sale 104*4 lu5*e
conv 4 s ......................1927
Sep TO
105 108*4 20-yr
. G enorai gold 5s................. 1031 J • J 1 0 T 108 107
05 08*8
07 Sale 06*8 9 /
1st A rof 4 s.......................g2U08
00
9 l 7» Ore
St D A S F B B COUSg 4S.. ’00 J - J 0 0 0 2 017„ O ct T o . .6. 8. 84
04*, 98*2
.......... 06 06*4 O ct TO
By A N av con g 4s. 1046
00
G en 16-20 yr us ..........1027 M-N 8 6 * 4 Sale 8 6 *b SO
113*4 117
1 14*4 sale 1 1 4 ’4 1 l4
S hort Dine l s t g 6 s ..1022
Southw D iv 1st g 6 s ..1047 A-O 0 0 ............. 0 0 1 . O ct TO - r61t i 90 100*4 U re
108*4 1137g
111 *4 112 112-4 O ct ’ll)
1st cousol g os................ 1046
81-.
8 1 *2 Sale 81
78*2 8 6
B elaud ing g 4 s.............10 5L J - J
01 94 7»
0 3 's sale 03 *4 93*,
G uar relu u d 4 s.............. 1020
. . 114
117*2
K U F t S A M c o u g Os..1028 M-N 1 1 6 * 4 ............. 117 Sep TO . .19
04 Ja n ’ 0 9
B eg istered ....................1020
Sale 77*8 7 8 ‘4
76*2
82*4
K C F tS A A1 By re! g 4s 1030 A-O 1 78
104
107 ‘e D ec’09
U tah A N or gold 5 s ..1020
K O A M U A B l s t g u 58.1020 A-O 0 0 .......... 100*4 D ec oy
N J B B A C Co bee P a UU
Oz’rk A Ch C I s tg u S a g.1013 A-O 06 “,, 08*2 03*8 A ug’lo . . . . 06*4 07 UU ni
tah C entral Nee Bio G r Wes
St Douis So bee Illinois Cent
1I1 A N o rth
bee Un Pacillc
S t D S W 1st g 4s bd e tts. 1080 M-N 0 1 91*8 91*4 01*4 2 8 8 03*8 UU
6
80
79 82 U tica A B lack it bee N Y Cent
2d g 4s ino bond C tl's...plO 80 J -J 78 80 80
08 N ov’08
Consol gold 4s.................. 1932 J-D 76*4 Sale 753, 76 26 72*2 70 T# V undailu consol g 4 s ___1055 F-A
06 A p r’ll .""'I 06
era C ruz A i’ia t gu 4 *2Sl031 J - J
G ray’s P tT e r ls tg u g S s 1047 J-D 05 .......... 101‘a A p r’07
Ver Val iu d A W bee Mo P
SC P aul A D ul bee N or Paoilio
V irginia M id bee S outh By
» t P M inn A M an bee a t N or
105 108
Va * S outh w’t 1st gu 5 s .2003 J - J 105 110*2 luo J ’l y ’u
d t i ’ Ji N or Pao bee N or Pao
04 08*2
1st cons 6 0 -year 5 s ..........1068 A-O 93 9 1 * 4 04 G et ’ll,
8-VPAS’xC U y b e e V S t P M AD
lu i 113*4
108*|
7 83*2 8 8 * 4 W ubasli 1st gold 5 s........1030 M-N lU 8 * 8 ........ 108*4
88
86
8 A & A P ass 1st g u g 4 s ...1043 J -J 89 63 l4 Sale
99
2d gold 6s...............1 0 3 0 F-A 00*4 09 *, 09
1U4 O ct ’ 0 0
..
8 F lie N P 1st sm k t g S s.iu lO J J
86 J ’l y ’H
D ebenture series B ........1030 J - J ..........1 0 0
8 av F A W eat bee A 11 Coas c D
1st Ueu equip s fd g es.,1021 M-S .......... 03^ loo J ’lie’ll.
Scioto Vai A N D bee N or A W
*90 M a r'ld
1st
lien
50
y
r
g
term
4
s
.1054
8
5
J-J
44
81*2
8
0
78
84*4
8
6
A
Seaboard A D g 4s stam ped.L.’yu
__
86*8
86
9 0 7 * Oct TO
j 5 6 *4 7 7 *8
90 1 0 0 * 8 1st ref und e x t g is ___1050 J - J 6 6 j'aio 06*8 J ’l y67’lU
100
Coll tr refun d g 5 s ..........r o l l M-N 790X^7a baJ
105 107*4
72
72*9 213 60*2 75*4 D e tA C h E x t l s t g 6 s ..1041 J - J lu7 * 2 ......... loo
0
A d ju stm e n t 6 s ................ol940
83
Deo
Out
1
0
D
es
M
om
D
iv
1st
g
4
s
..1030
J
-J
80
87
84*2 02 Uct TO
A tl-B irm 3 0 -y rlst g 4s.el0 33 M-S 84
Cm Div 1st g 3 * 2 8 ............ 1041 A-O
77 74 *» Sep
, 2 -2 7 7
.............
01
02
Car C ent 1st con g 4 s ... 1040 J-J 1 00 11 * s.........
Tol A Cll D iv l s t g 4 s ... 1041 id- 8 *84 *2 87 ‘ 2 83 Sop TO
00
103 A p r’ll)
103 103
Fla Cen A P en 1 st g 6s. 1018 J - J
46at 46*4
52 *2
W ab P itta T erm 1st g 4s. 1054 J-D
1st land gr e x t g 6s ...1 0 3 0 J-J 1 0 1 * 8 ............ lOljsj M ay ’ 1 6
54
T ru st co c e rtts..........................
47 sale 40*8 48 *2
100*4 100*4
Consol gold os.................1043 J-J 1 0 . * 8 .............
6**4
V
J-D
2U
gold
4
s.............................1054
11*2
103
..........
104
M
ar
TO
104
104*2
J
J
Ga A A la By 1st con 6s u 1045
ru s t Co co rtls........................
■ 'o'-l 7 * 2 6 *a 7
12*2
Ga Car A N o l s tg u g o s 1029 J - J 103*8 ............. 104 J ’ly TO |fltt 104 104*., W arTrun
Dei Dae A VVeat
106 106 W ash Coni.see bee
Seab A Boa 1st os............1020 J - J 104 7a .......... 106 A p r’10
N or Pao
8h er Shr A So bee At it A X
V V ashO A W Nee S outhern
811 Sp Uca A U bee A tl C oast D
W ash T erm l 1st gu 3 *as.. 1045 F A 83 90 bOT O ct TO
88*2
00*2
S o uthern Paoilio Co—
M aryland 1st g 4 s ...1 95 2 A-O 8 6 * 4 sale 8 6 * 4 8 6 -4,
82*4 86*4
92 *4 7 89 05 WGest
02 92 *2 92
Gold 4s (C ent Pao coll)./cl040
i 1 *2 Fob T o
en Jo couv g 4 s ...............1052 A-O
, 1 73
86
01
......... 0 2 Ol Oct T o
B e g isto red ....................A1049
T ru st Co ccrtt'a........................• . .. .
73 2 A p r’lu
68*2
74*8
20-year conv 4 s..........j/1920 M-S 08*4 Sale 0 8 * 2 09 260 02*4 106*4
loo *2 N ov ’ 0 9
Va C ent A P 1st g 6s 1011' J - J
C ent Pao 1st cel gu g 4s 1040 F-A 1*7 *4 Sale 9U77 F ob07’ 111*2 31) 04*2 08*4 WWestN
1 10 J n o l o
Y A P a 1st g o s ..1037; J-J 109
109 % 110*4
07 07
....
B egistored........................1040
8 6 *2 Sep T
4s......................... 1043 A-O 8 /
86*2
02
ad ............. no*., c e i T o
87*2 90 *-9 G en gold
, M ori gu ar gold 3 las..«:102U
e 6 s.........................d l 0 4 3 |Nov
34 r u u ’o
89 ............. 0 2 J ’noTO 1____ 01*^ 94 WIncom
T hroug h s t D 1st gu 4s ’"64
est N o Car bee South By
1U5*4 108 100 Sep TO
1037e 1 0 0 W heel’g
G H A S A M A P 1st 6 s ..1031
105 Get TO . .. . 101*4 105*«
E 1st g 6 s ...1026 A-O 1 0 1 *-2
101a4 sop ’09 . . . . ............................. W heel AD ivD 1st
G ila V G A N 1st g u g 5s. 1024
gold o s ..1028 J • J 1U3 *2 . . . . . 1U3 *a O ct T ,...l;103 *a 104
...... ......
104*4 105*4 106*4 M ay’oy
H ons D A W T 1st g 68.1033
A Im p gold o s ...1030 F-A 96*2 102 *4 I 02 j u o ’ lU ' 90 102
104*8 106 10 3 14 A ug ’ 1 0 ___ 103*4 10 5‘s DB Bxlou
1st g u ar 6s re d .............1033
1st cousol 4s................1040 M-S 85*4 sale 83*4 83-, 10 77 »7*4
11 A T O I s tg 6 s iu tg u ..l0 3 7 J - J 1 0 0 * 8 n o 1 0 0 * 8 lu y °8 6 LOiiSi
03*a 08*9
20-year equip 3 f 5s ...1 0 2 2 J - J 94 0 7 1 0 3 -2 O ct TO
Cousol g Os in t g u a r... 1012'
W ilkes A E ast bee E rie
Aug 1 0 " " 'H A T ‘ 08*4 WU
03*4 06*2 1 02
U eu gold 4s m t g u a r..1021
22
Sioux
F
bee
S
t
1*
M
A
M
1
0
1
,
M
ur
To
L15 118 107 *2 J a n 09
110*4
IIU ’4 VVis C ent 50-yr 1st gen Is 1040 J - J
W aco A N W div l s t g 0 s ’3U
05
............................
03*2 ll" 00 00 iH
93*4 Sale 03
102
.............
A A N W 1st gu g 6 s ....1041
03 Oct TO
02*8
115 ............. 115 O c t’ll r - 116 115
M organ’s Da A T 1st 7s. 1018
n o ............. 1 1 0 * 2 O ct TO . . . . 1 1 0 * 2 H O T T e le g ra p h n n d T ele p h o n e |
1 s t gold Os........................ 1 0 2 0
112
N eo’oV
N o ol Cat guar g o s ...........1038
0 0 ■*
„ 39 89 »* 03
100
iu o A m Telop A T el coll tr is 1020 J - J 00*5 0 1 90*4 106:*a
O re A Cai 1 st g u ar g.6s.lU 27!J - J 1 .0 0 ............. 1 0 0 J ’no '1 0
98 lOO3*
C onvertible 4s...................1036 M- S
sale 104 '8 A ug’lO inns bo
................... ..
102
............. 101G J ’ne’08
00
■ J5
M ich S tate Telep 1st 5 s ..1024 F-A 105*8
00
1 U2
________ 114*2 D ee’04 ____ ................ ..
95*4
98
0
8
3*
14?
00
N
Y
T
oleo
1st
A
g
e
n
s
1
4*aa.'30
M-N
sale
0
8
*
2
1
1
0
.Ua>’07
....
IU7 * 4 .........
T el A T el 1 s t 6 3 ......... 1 0 3 7 /.,* 07*8 Sale 'J l *8 0 ( ;*8 ; 23 96 0 0 * 8
iu*u*a LOt Pac
100*< Oct ’IQ
B P a c o iN M ex 1st g o s ..1011 J-J ! iuo
100
lu o
07 1 0 0 * 2
W est Union col tr cur 0 3 .1038 J - J 1 0 0
So lJac Coast 1st gu Is g.1937 J - J
05
95*2 14 93 07 *4
Fu anil real eat g 4 (as... 1060 M-N
06*8
101*9 10 2
1 0 i 78 -Uay’ 1 0 . . . . 1 0 1 * 8 1 0 2 * 2
102
102
Conv 4s, Series A ...........1036 M-N 1 0 1 * 4 102*4
‘ 1 0 1 0 0 * 8 102*4
Con gold 5s.....................1043 J • J ‘ 1 0 0 * 8 .......... 102 Nov'OO
JiU sC E D D A N E O lhS B O N U S—C o n clud ed .
M u n u la c tu rin g & In d u s tr ia l
U n u iiln c tu rin g ifc ln d u strin
82 82 Va-Car C'Uoui i s t 15-yr 6s 1923
Gen E lectric dob g 0 *9 3 ..1012 F-A * 80 .......... 82 J a n T i
10-yr g deb 5s.....................1917 J-D 148*2 Sale 117*2 140 Ob 130 140*4 >VeatingI1 0 use K a M s t os ’31
n eo iia
I n t P aper Co 1st con g O s.lO ie F-A 103 *8 Sale 103 103*8 4 100 105 A dam s E.itisccliu
x coi U' g 4 s..........194a
Consol conv s f g 6s........1930 J-J 8 6 *2 Sale 8 6
82*4 89*4
86*2
rm our ACo ls tie a ie s t4 Ts’da
02 .
I n t S t P um p 1st s t 5 s ....1020 M-S 02 Sale 0 2
s 91 *2 067e AB ush
T erm inal 1st 4 s .__ I95z
L ackaw ste e l is t g 6 s___1023 A-O .......... 06*2 06*2 06*-; 5 05 7s 100
N at E n a m A Stpg 1st 6 a ..1929 J-D * ......... 00 06 Sop TO _ 94 07 ** Consol 6 s..............................1950
N Y A ir c ra k e is t conv Us ’28 M-N 104 Sale 103 104*4 11 LOO 114*4 C lu cJo A t Yard c o lg 5 s .l'J l6
B y S teo lS p g a 1st s f 3 s . ..1 0 2 1 J - J 07 T ......... 07 3,, Oct ’ T
96*2 03*2 u e tM A M ld g r in c o m e a..l 9 H
102 104 m p titfo r Irrig VV’ks 4 *28 1943
B epub 1 A s 1st A coltr& s. 1034 A-O ..........102*2 102 Oct 'll;
U m ou B ag A P 1st si 6 a ..l0 3 o J - J .......... 06 013, o c t T o •• 01*4 06*9 I n t M oreau M arine 4 *9 3 ..1922
03 May TO
03 06*2 in t N avigatio n 1st 3 f 5s. 1929
S ta m p ed .........................................
U s i.ea th Co sfilo b g 6 s ..l0 l3 M-N 101 *, 105 104*2 104*2 6 104*2 105 N ew p N e Ship A D D 5s U1990
Y Dock 60-yr 1st g 4 s.. 1961
87 a4 11 85*2 94*4 NProvidence
U S tte alty A I conv deb g 5 s ’24 J - J ST'y Salt 8 /
se c deb 4s___1957
87 10 8 0 0 0 * 2
U S Bed A tter 1st s i g 0S.1U31 J - J 87 S alt 87
103 f.7 101*4 104*2 P rovid ent Doan Soo4*2S.1921
IT S B u b b er iO -yrcoll trO s.’lS J -D 103 Sale 102*4
104 *t >17 1 0 1 *9 105*2 8 Y uba W at Co con g 6S..1923
IT S Steel Corp— 1 coup .(11063 M-N 104 Sale 1033,
3 I017g 105*4 W ash W ater Pow 1st 5 s.. 1030
SI 10-60 y r 5s. (re g ..(11063 11 ti 103 ......... 103*4 10 1
v N o pifico Friday; la te s t bid and asked th is w eek. 6 Due Feb U luv» A pr 8 Due May lyDue J'u e h Due J ’ly TDue.Vug 9 Duo Oct p Duo N e t <O ption Sal*



tt

CHICAGO STOCK EXCHANGE—Stock Record—Daily, Weekly and Yearly
STOCKS--H IG H E ST A N D LOW EST SA LE PRICES
Satur
Oct. 29
*6
*77
• 19
*10
*5
*23
*72
*20
*62
*18
*___
*61
*13
*52

Oct. 31

Nov. 1

155
155 *
21" *1U
*1*2
*6
*0
79
79
78
70
1934
2U2 2034
20
11
1012 10»2 *10
0 *5
0 *5
5
5
23G *23 231" *23
77 *72 77 *72
21 *20 21 *20
68 *62 68
65
22 * *18 22 **18
63
63
64 *60 64 *60
12
H u 12
131 ■>
*52 65 *52
55

Nov. 2

2*2 *1*2
*6
80
77
21
20*2
11 *10
6 *5
434
5
231" *23
77 *72
21 *20
65 *05
*18
22
63 *___
64 *60
12*2 *12
54"s
55

2*2
77
20*2
11
0
5
23*2
77
21
68
22
03
03
1234
54 7g

Nov. 3

Nov. 4

170 Oct’10
Last Sale U2 July’10
Last Sale 4 July’10
76
*70 78 70
20*4 21
20*4 21
*9
11
*8 11
Last Sale 412 Sep’10
5
5
5 *4 3 4
Last Sale 23 Oct’10
Last Sale 75 Oct’10
Last Sale 18 Oct’10
08
*05 08 *65
Last Sale 20 Sep’10
Last Sale 00 Oct’10
Last Sale 01*4 Oet’10
*12 13
12
12
*54 56 *54 66

Sales
of the
Week
Shares

STOCKS
CH ICA GO STOCK
EXCHANGE

oads
__ Chicago HC a.T
ity U y_____ 100
___ Chicago A O ak P a r k .. 100
Do pret ..................100
76 Chic Hys p a rt ett " l ” ___
1,304 Chic H ys p art ctf ’ 2” ___
100 Chic Hys p a rt ctr ’’3 " ___
___ Chic H ys p a rt ctf "4" .
547 Chicago S u bw ay _____ 1 6 6
___ IKans C ity Hy A L t.,1 0 0
___ Do p r e t__________ 100
___ Metropol W S E lev___100
50 Do p r e f __________ 100
___ N orthw estern E lev___100
___ Do p r e t__________ 1 0 0
.South Side E le v a te d ..100
335 Streets W S table C L.100
10 Do pref__________ 1 0 0
Aliscellaneous
1,935 A m erican C an________100
1,018 Do p re l__________ 100
_ _ A m erican K adlator._100
1 Do pref__________100
180 A m er S h ipbu ildin g___1 0 0
60 Do pref__________ 100
m er Iclep A Teleg_____
37 ABooth
(A) A Co_____ 100
Do pref__________ 100
55 Booth Fisheries com ____
25 Do prel________________
Cal A Chic Canal A D .100
Chic Brew’g A M alt’g ____
225
___ Do p rel________________
190 Chic P neum atic T ool.100
85 Chicago T elep h o n e__ 100
Do rig h ts____________
89 Chic T itle A T ru st___100
283 Commonw th -E d is o n .100
Do r i g h t s ....................
Corn P rod He! Co com ___
Do uo
p rel____
484 D iam ond M atch_____ 100
314 lldnols B rick_________100

10*4 1034 10*2 1058 70978 7734
10*2
934 97a 912 012 95S 10*8 771
78 78 78*2
2
75 ' 75 ~ 75 75 75 7012 *250
iMst Sale 250 Oct’10
260
*250 260 *260 200 **250 200
131 120 120 *125 135 *125 135
131
131
7934 80 *79
80
793, 7 9 3 , 80 80 *79 80
so
111 *110 111 110*2 110*2 *110*2 111
♦ 7912
no ~ 1103, 1101" 1101" *110
14:1
*143 14312
*i4nio 14119 *140 1 4 0 3 4 *140^4 14^2 141*2 141*2 *14H"
Last Sale *8 Junc’OU
Last Sale *4 June’09
3312 33*2 33*2 3312
3434 ♦ 33I2 3 5
33*2 33*2 *33*2 35
3434
03 *00 03 *00 63 *01
03
027s 027g *00 03 *60
Ims I Sale 47 Aug’10
50 *48 50 *48 50
♦ 48 60 *48
*1
*1
1
H4
*1
*1
Us
*1
l's
1<8
l's
l's
3
*2
3
IMst Sate 3
O ct'10
3 *2
3 *2
*2
4012 4012 40*4 40*4 4012 40*2 40*2 40*2 4012 4012
*40 41
*121 123 *121 123 *121 123 *121 123 123 123 123 123
2 I4
Fcb’08
*145 150 147 148 148 148 *1471" 150 148 148 *149 150
115G. 1151? 11434 115U 11434 115 *114 116 115 116s8 116 110
13,8 F eb'10
151» Oct’10
79*4 Apr’10
95 07 05 9512 96 90
98 98)4 98 08
95 ' 9512
64 64
63*4 04
04 04
63*4 03*2 0312 04
63*2 61
64 64
64
63
*63
63Jo
*__64 0712 *
90 '
95
97&8 400
97*5
97*2 *
*
20 Nov'09
21 *
21 *
21
21
217 N ational B iscuit_____ 100
* m 1 1 2 1 ? 1 1 2 1 1 2 * u i 112*2 *111 1121? 111*4 1U*4 11178 112
4 Do pref__________ 100
122 *121 122 *121 122 122 122
122
*121
122
*121
*121
C arbon_____ 1 0 0
145 143 14438 143 143 *130 130*2 110 N ational
140 140 143 145 *
*119 121 *120 123
35 Do prer__________ 100
120G 120G
*11812 120 *1191" 120 123 123 1083.1
109 107*4 107*4 107*" 108
458 People’s Gas L A C oke.100
108*4 IO8 I.1 10812 10834 10812 109
Do rig h ts____________
11-16 Mch’09
17234 1727s 175*2 3,566 Scars-R oebuck c o m ..100
170'? 170G *1093,1 1703s 108*2 109*2 10834 170 170
11934 120 120 120
184 Do pref__________100
120 120 *119 120 119*8 119*8 119*4 1193i
ift A Co___________ 100
1037s 101 10312 1033i 103"3 103*8 103*2 10334 10334 10378 1037>8 10358 350 Sw
30 The Q uaker O ats C o ..100
♦ 170 177 *173 170 *173 170 175 175 +174 170 *173 176
Do rig h ts_____________
60 Do pref__________ 100
*101 1041- *104 104*2 1037 103 *102*" 103 103 103 *102*2 103
034
7
7
7
7
7
7
7
7
7*4 1,120 U nit Box Bd A P C o. 100
7
Last Sale 15' June’10 ___ ’W estern sto n e ______ 100
*___ 10 »*___ 10 *13 15 *13 15

Chicago Bond Record

Range for Year 1910
Lowest
100 O ct 24
1*2 J ’ly 2 8
4 J ’ly 2 8
G03s Sep .8
J 1*4 Sep 13
8 .Vlav2o
3 Aiayz4
2*y J n<*29
20 A u g . 5
69 F eb 17
16 Ja n 14
51 Feb 7
15 A pr 1
63 M'aygl
55*4 JT y 6
7 J ’ly 2 8
40
J ’ly 2 6

Highest

Range for Previous Yec\
(1909)
Highest
Loicest

Feb
185 Mch 7 180 Mch 1904 Ja
n
H , O ct
312 Jail 26
5 O ct 15 Ja n
7*2 Ja n 7
109 Ja n 3 97*8 Dec 119*2 JT y
36 Ja n 3 3) Dec 4534 Ja n
16 Ja n It
101" Dec 30 -jan
8 Dec 131" Ja n
9*8 Ja ’ 0
014 Aug 16
3 *4 Dec
29*4 J a a
39 . an L 30 Dec 52 JT y
77+ M ch 30 78 Dec 8 6 * 2 M ay
25 J ’rte.J
15*8 Sep J9*? Dec
72 J ’nC2L 47 Jan 59 Dec
23 J ne24 17 Nov 25 M ay
63 Ja n 73 M ay
06 J 'n e .l
60 Ja u 61 M ay
72*2
M3g JJ ane22
n 3 2 9 )4 A pr 541- Deo
104 Ja n 0 97 Feb 108 Deo

Vf, Ja n
U 4 Ja n
100 Ja n
128 Ja n
64*8 Apr
101 Feb
139 Aug
*4 May
31 J ’no e 3 9 3 4 ja n 6 10 May
50 J ’no 0 74 Ja n 4 48 J ’ne
47 A u g li 65 Feb *7 6 1 *4 Ja n
1 Feb 4 1*4 N ov 4
1 A pr
3 Sep 23 3 Sep 23
2i* A pr
25*2 JT y 2 6 47 E'eb 1 20 Mch
UO AlavlT 137 J an 3 127 Ja n
142 A ug 20 103 M ch 16 117 Ja n
1 0 8 * 2 JT y 27
m u j o n 11 107 Ja n
1*4 Ja n to
2 Ja n 13
13*2 JT y 9 2 2 3 4 Ja n 8 i7*« Feb
79*4 A pr 7 82 F eb 2 8 70*4 Mch
82*" Sep 30 1 2 7 .a n 0 117 Ja n
53 JT y 2 0 91 M ch 2a 38 Ja n
431" Mcll 0 46 Ja n 7 43 Ja n
40 Mch 17 66 O ct 25
93
J ’ne2b 10234 A pr 20
20 Nov
101 A ug 3 115 Ja n 7 977r Ja n
118 J ’ly iu 125 Ja n 18 1 1 8 *4 Feb
101
F eb 24 145 O ct 31 82 ja u
112
F eb 10 123 jNov 1 110 Jan
103 JT y 20 T i + J a n 3 102 Ja n
148 E’eb 7 175*2 N ov 4 56 Ja n
11612 A ug 8 1L'2 Mch 8 101 Ja n
101 Sep 16 10U>s Ja n 8 100i2 Ja n
155 JTy 27 186 F eb .9 119 Ja n
6 J'n e z z 0 May2G
101 JT y 16 100 Ja n 0 98*2 Ja n
5*4 A pr 28 1538 Ja n 3
Feb
33j Mch
15 J'tic 30 '-2h A pr 1 15 Feb

65* J'ne30
6212 JT y 2 0
240 A pr l6
1 -G JT y 19
72 F eb 7
107 A ug 0
131*4 JT y 30

135sJan 1C
Ja n f
250*8 Sen 2 2
135 A pr 4
84 *l M ay 1 0
112 Ja n 11
142*8 Mch
82

7

16*4 N ov
86 J ’no
225*4 O ct
132 J ’ly
81*8 Deo
112 Sep
145 N ov
1 Ja n
5 Jan
40 Deo
751" Deo
68 A pr
1 A pr
212 N ov
42 Deo
140 Sep
152 O ct
12H2 JT y
25*8 Aug
8 8 * 2 M ay
13*934 Aug
8 8 * 2 Dec
47 Sep

‘

119*4 Sep
130 Sep
108*2 Dec
124 N ov
11978 Aug
I McU
169*2 Deo
12134 O ct
114*4 Aug
102
Dec
105 Deo
1»8 Mch
25 Mch

Chicago Banks and Trust Companies

O'.astand- Surplus
Dividend Record
Price
H'ds Range
ing
Week’s
NAME
Stock
Profits
In
Friday
Range or Sold
for
In Per­ Last Paid
1903 1909 iod.
Nov. 4
Last Sals
Year 1910
■ t
r
%
Hid
Ask Low
High No. Low High C alum et N atio n al_____ $130,333 343,541
An Dec '09, 6
A m er S traw b 'd 1st Os. 1911 1- - A __ _ ___ 9.134 Mcn‘1 ___ 993., 3 934 Chicago C ity___________ 500,033 224,197 1 0
10
j -j Miy TO. 5
A rm our & Co 4 H s___1039 J • D 19134 Sale 9134 9134 9 9034 9412 C ontl’tal & Comm N at 20,000,000 9,622,319 ____ . . . _
OCT '10, 2*2
A urora Elgln& Chlc 5.1941 A - O
3,000,003 5,437,074 12
12
Corn
Exchange
N
ational
y
-j Oct TO, 4
Cal & So Ohio R y Co
Drexel S ta te ___________ 200,033
22.12G 6
9
W-J Oct TO, llj
1st M 5s____________1027 E . A
rovers' Dcp N ational. 600,303 399,499 9H 1 0 q -j Oct TO 21j
102 J’ne’OJ
____ _____ DEnglewood
Cass AV A E G (St L) 5s '12 J - J ___ ___ IOU4 Oct’09
S ta te ______
200,300
36, 85.
6
6 Q-J Oct TO, H i
Chic Hoard ot T rade 4 s 1027 J - D
Elrst N atio n al_________ 10,003,303 10,836,569 12
100 Mav’07
12* q-M Sep 30’ 10,3?
Chicago City Ry 5s___1927 E - A 10214 Sale 102!4
1023a 20 10138 103*4 First N at Englew ood___ 153,003 192,377 10
q-M
10
Chic (Jousoi Hr & Mlt Cs___ J - J ___ ___ 103 Apr’lH ___
Forem an Hros H k 'g C o . 1,030,303 525,372 Prlv ate Ha nk dcp 30T0,2*2
Chic Consol T rac 4 h s 1039 J - U . . . . . . . . 50 Apr’09 ___
Fort D earborn N ational 1,530,003 383.G92 8
8
q-J Oct TO, 2
Chic A uditorium Ist5sl020 E - A . . . . —
91534 Jan '0 5 ___
. . . . . . . . H ibernian H’k’g A s s 'u .. 1,500,003 950,430 8
8 q -j Oct TO, 2
Chic Dock Co 1st 4s. .1029 A (j
K
aspar
S
tate
H
ang____
230,000
143,88,,
J-.I July TO, 5
10
10
Chlo Jo HU 1st M g 5 s .1045 Al- S . . . . . . . . 9 4 1 2 Dce’IIU
La Salle St N ational . . 1,000,000 251,680 Ucg. b LS, M y '10 V.9J,p.1277
Chic No Shore Elec Gs.1012 A - O
87 Feb’Oii —
1,250,000 490,626 10 + 2 10 q-M Sep 30*10212
Live
Stock
E
xch’ge
N
at
Chic Hue Tool 1st 5s.al921 J - J *86' 88* 8 6 * 2 Oct‘ 1 0
llonroe N ational______ 300,00v
*8*4*14
65,103 4
4 q-i' Nov TO, 1
98*« 6 9(3 *87*3*4 N at Hank of H ep u b lic.. 2,030,003 1,214 0 IS 8
Chlo Uy 5s........................1027 F - A 98 98 * 4 98
8 q -j Oct TO, 2
Clilc Hys 4-5s scries “ A’ A - D tH75S Sale 87"8 875s 5 87"8 1013s
1,500,003
404,524
N
ational
C
ity
__________
3
q-J SCp30 10 1*2
95*8
6
79
Chlo Uys 4-5s series “ U" J - D 79 Sale 79
10 75 86 N ational Produce______
250,000
83,034 . . . .
3 q -j Oct TO, 1*2
93
93*2 Mcll 10
Cldc Uys 4-5s series “C’ F - A
90*" 91 N orth A venue S ta te ___ 203,003
68.763
q-j OCt TO. 1«4
6J4
2H
E
A
9834 99
98 99
Chic Uys coll 0s___1913
3 97*4 101*8 N orth Side S ta te Sav'gs
26,2o9 0
50,003
6 q-j Oct TO. ll j
Chic Uys fu n d Cs__1913 F - A __ _
67*4 Scp’10
____
97U 10034
93 N orth W est S ta te _____ 200,300
18.498 . . .
q-J O c.. TO, 1
. . . . . . . . 103*8 Ap.’lO
Chic Hys Tem Ctfs 1st 5s
_
_
_
100*8
People's Stk Yds S ta te . 300,003 105,12U
q-* OCT TO. 2
_.
___ O6 I2 Aug’OS
Chic H 1 & H H it 4S..2002 m - ’n
rP ralrle N atio n al______
250,006
62,310
6 6 * 2 Julv’OS
Collat tru st g 5s— 191.1 vl- fc
Prairie S ta te ___________ 503,003
80,077 8
6 q-M Oct TO. 1*2
Clilc Telephone 5s____1023 I - U 101*2 102*4 lOHg Oct’10 ___ 100*8 103*4 U a'lw ay E xchange____ 250,000
___
23,208 2 None
Jan ’03, 2
Com m om v-Edison 5 s .1043 H - s 101*4 Sale 131*8 101*4 23 100*8 I027« S e c u rity _______________ 300,003 183,033
q-J Oct TO, H 2
- - - - ___ 100*4 Aug’10 ___ 100*4 100*4 South Chicago Savings. 200,000
Cldc Edison deb 6 s . 1013 J - J ____
87,000 6
0U4 q-j Oct TO, 2
____
A
O
106*4
Oct’10
.
.
.
.
100
1st g 5s____July 1020
103*2 South Side S ta te ______
200,033
11,065 Beg. b us Sep t ’09 V. 89, p. 817
lOO-'n AUB’U'J
D ebenture 5s____1920 VI- s . . . .
S ta te Hank ot C h icag o.. 1,500,003 .,742,907
11
12 Q-J Oct TO, 3
Commonw Elect 5s/;1943 *1- s 10034 ___ 100*8 O ct’10
100 10234 Stock Y ards Savings___ 250,003 186,241 7
8 Q-M Sep30Td,2
J
D
83
Ucc’Ob
Union Hank of Chicago. 200,033
— —
Illinois Tunnel 5s____1928
—
— —
0
47,899
6 M-N Nov TO, 3
W
ashington
P
a
rk
N
a
t’l
K an City lty & L ight
100.003
7,814
See
V.
9J,
p. 159
95*4 Oct’10
9434
Co 5 s .............................1913 II - N 95*4 ____
53,003
6,570 0 None Q-M bec31'08,l*«
95*4 vVendeU s ta te _________
___ 9 4 3 4 Oct* 13 ___ 9 4 3 4 9434
C
entral
T
ru
st
Co
of
III..
K nlck’b’ker Ice 1st 5s 1920 A - U
2,030,303
872.807
q -j Oct TO, 2
7
7
77 Oet’10 ____ 75 85 Chicago Sav Uk & T r___ nSOU.OOO 116,352
L ake St El— 1st 5 s ...1 9 2 8 J - J 75 76
6 q -j Oct TO, 1*2
16 May'05
Incom e 5s_________ 1925 Feb
Chicago T itle A T r u s t.. 6,000,300 11,543.802 6
6
Oct. TO, 2
M etr VV Side El—
Citizens T ru st A Savings
7,188 4 - 4 Q-J
A-O Oct9, TO. 3
60,303
1st 4s______________ 1038 E - A 81+ Sale 8134 81 s4 12 80 84 Coloula1 T ru st A Savings , 600,000
454,136 8 + 2 8 + 2 Q-J OCt 10, 2*2
E xtension g 4 s____1038 J - J
78
78*4 Oct’10 ___ 70 80 Cont A C om m T r A S av . 3,000,000 427.869
90-+ Oct’lO
M orris & Co. 4 1 4 . ..lu .'io I - J
88
D rovers' 1 ru st ASavIngs
200,000 115.219 7>4 8 q y Oct TO. 2
N orth W est El 1st 4 s. 1011 vl - E 9534 Sale 05’4 9534 2 9334 93*4
3 Q-J Oct. TO, l*j
90*4 Earwell T ru st Co______ 1,500,000 183,929
99 Apr' 10
No W G-L & Coke Co 5s 28 Q - M 98
3,113.260 • • •• 13 q-M dep30’10, 4
99
99
Elrst
T
ru
st
A
S
a
v
in
g
s..
2,500,003
O gden Gas 5s________ 1 9 4 3 *1 - N
93 Oct’10
14,019 Incorp orated 1903 v.S7.p.li3S
233,303
93*2
G
uarantee
T
ru
st
A
S
av.
U
6 I4
92*2
Fearsons-T aft 5s_____ 1 0 IG J - U 9812
10U38 Mcll’09 ___
H arris T ru st A S avings. 1,253,000 1,456,828 6
9H q -j Oct * 10. 3
4 .4 0 s ...................................... M - S 95
96*2 Mcll’10 . . . . 90*2 9612 Illinois T ru st A Savings 5,000,003 8,444,429 16 + 4 16+4
V Oct TO. 4
4.00s Series E __________ II - N 90
97 le o ’lo
230,303
Kenwood
T
ru
st
A
Savgs
53.526
6
97
97
614 Q-J Oct TO, 1*4
4.80s Series E__________ M - IS
98*2 Mch’lo . . . .
Lake View T rustA Savgs 200,003
43,365
6 q y Oct TO, 1*2
Peo Gas L & C 1st 0s. 1043 A - U 97*2
12134 May’09 ___ 98*2 93*2 M erchants' L oanA T rC o 3,003,000 5,840.079
12
12 q y Oct TO. 3
R efunding g 5s____1047 M - S
3 ___
101*8 Oct’lo ___ 10034 103*4 M etropolitanT rust ASav 750,003 221,455 6
6 Q y Sep30'10,l*2
Chic Gas L&O 1st 5s 1037 J - J IOU
103 104 103 Oct’l ,
103 10112 N orthern T ru st Co_____ 1,500,303 2,327,738 8
8 Q-J OCT TO, 2
Consum Gas 1st 5s_1030 I - l)
^
__
100*4 Sep'10
N orth-W estern T rA Sav
64,491 6
lO'.'lj
2 0 0 ,0 0 0
100*4
6 j y July TO, 3
M ut’l Fuel Gas Ist5sl947 II - N
10034 Oct’10 ___ 10034 101*2 Pullm an T ru st A Savgs. 500,000 224,584 8
101*"
Oct TO, 2
8
South Side Elev 4 1 4 s . 1024 J - J 9134 02
92*2 92+ 3 91+ 94 Sheridan T r A Sav Hank 2 0 0 , 0 0 0
25,432 Beg b us. JTv 1Q-J
2 0 9 V 89,p 141
Sw ift & Co 1st g 5s___1014 J - J ___ 100 100
100
(^Standard T r A S a v ..__ 1 ,0 0 0 , 0 0 0 250,000 Comm enced bus. Sept 6 1910
6
1007s
100
Union El (Loop) 5 s . . 1045 A - ()
__ 88 A pr'lJ
88 88 Stockm en's tru s t A Sav 2 0 0 , 0 0 0
32,754 6
5 j y July TO, 3 *
Union Pactllc conv 4 s .1011 ft - N ___
114 Nov’01 ___
Union Trust Co_______
8 48 + 2 q-M Sep30'10,2
U nited Box Hoard col 6? 20
70 Apr’10 __ 70 73 eW cst'n T rust A Savlng> h1i,, 20 00 00 ,, 00 00 00 1,190,520
00
132,692
6
6 __
Q-J Oct TO, llj
G eneral m tge 0 s .---------- J ' - ' j 58 60
__
6 1 * 4 Oct ’ 1 0
65 W est Side T rA Sav Bank 2 0 0 , 0 0 0 107,552 as... J
Sep 30T0.2
W estern Stone Co 5 s .. 1000 A O
85*2 July 33 __ 61*4
W oodlawn T rA Sav Ban.' 2 0 0 , 0 0 0
53,442
6
6
Q-J Oct 10. 2 •
Not" — Accrued m terest mu«t be added to all Chicago h ond prices
( * Bid and asked prices; no sides were made on this day. f Sept. 1 (close of business) for national, banks and Sept. 2 (opening of business) for State Institutions.
! No prlco Friday; latest price this week, a Duo Dec. 31. b Duo June, k Also 20% In stock, n Capital and surplus to be Increased, q Dividends are paid Q y,
With extra payments Q-F. s In addition the equivalent of 4% more camo from First Trust A Savings Hank, f July 31 1910. v In addition the equivalent of 1% came
from First Trust A Savings Bank. 0 Prairie Nat. Bank and Western Trust A Sav, Bank to be merged and capital ot latter to be Increased to 11,250.000; V, 01, d . 314.
b Seo V. 91. p. 72. 17.
. --

BONDS

CHICAGO STOCK
EXCHANGE
W eek ending N ov. 4




Inter­
mit
Period

BOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and Yearly
SH A R E P RIC ES—NO T PER C E N TU M P RICES
Tuesday Wednesday
Monday
Friday
Oct. 31
Nov. 1
Nov. 2
Nov 4

Sales
Range Since Jan. 1
STOCKS
th e
BO STO N STOCK
Week
EXCHANGE
Shares
Lowest
Highest
„„
.
,
R
ailroads
*104 10412 *1041s 1043a *1043- 1047g 105 105*4 *10512 100 *103*2 104
20 A tch Top & S anta F c. 10O C1 G J ’ly 26 123lg Jail
+101*4 102*2 *101*2 102 102 102 102 102 *101 102 101*8 101*8
63 Oo pref_________ .10 0 9 7 * 2 A ug 2 104*4 Ja n
223*2 224 224 224 222 222 223 223 221 221 22112 221*2
38
Boston & A lbany____100 2 1 8 J ’nCiO 234 ,'an lu
*127*2 128 127*. 1271. 127*2 128 127*2 128 12712 128*s 128 128
439 Boston E lev ated_____ 100 zL 2 A ug 2 13fj'!.j Ja n 6
+215
*215
*215
*215
216 216 *215*2 ___
30 Boston & Lowell_____ 100 tOJ J ’ly - 7 22 1 Feb 4
+131 131*2 131*2 13H? 131 13U, 130 131 130 130 130 130
172 Boston & M aine...........100 130 O ct , 2 152 F eb :
+290 ___ *290 297 296 297 *295 300 300 300 300 300
152 Boston & P rovid ence. 1 0 0 i'85 O ct 4 3 0 N ov 3
14 J ’ne is 16 Ja n •;
Last Sale 16 Oct* 10 ----- Boston S u burbau Ml Cos.
+15*4 ___ *15*4
17 *15*4 17
*15*4
*70 72 *70 72 *70 72 *70 72
Last Sale 71 Oct’10 ----- Do pref______________ 7; 1 J ’ly ;:1 79 A pr <
♦ ____ 1 0 1 . *10*.
8 Mon .
*
*4
Oct’10 ----- Boston & W ore Elec C cs.
1 0 *, *
10*- Last Sale 10*41
1012 Sep 3 :.'
43
*41 43 *41 43 *42 43
41*. 42 *41 43
50 Do pref_ . . . . _. 35 A ug 29 48 J a f1 3
Oct’10 ------Chlo Ju n e lty & U SY .100 139 Sep 16 156*4 O ct 15
+154 1561,3
*154 156*8 *154 154*8 Last Sale 155
Last Sale 114 Oct’10 ----- Do pref____________ 1 0 0 109 O ct 3 lls Ja n >
*113 115
*113 115 *113 115
... Oct’10
Last Sale 260
. . . O ct 13 270 M em o
*260 270 *260 270 *260 270 *260 270
C onnecticut R iv er . . . 1 0 0 260
+131 132 131*2 131*2 ----132
*131*4
133*131*4
Fitchburg, pref............. 1 0 0 1 2 4 I4 Sep 2 1 133i2 Jan J
131*4
132
131*2
131*2
♦ __ 12234 122 122 122 122 122 122 122 122 +------ 12112 182
104 ja u
123 O ct 7
96
Ga
Ry
&
E
lectric____100
-----------------89
*____ 89 *
881- 8 8 I4 89 *
Do pref_______
100 85 A pr .. 90 O ct 14
S9 * -- 89 *87 ___
Last Sale 210 Oct’10 -----20vtalnc
203 Fen 10 210 O ct 1
*209
C
entral...................
100
*209
*209*2
+209
20*2 203g 20*8 3,553 Mass Electric Cos____100 14L J ’ly 2 6 20*2 O ct 3
*19*4 lW l 19*4 193,1 1934 19's 20 20 20
80
8512 8534 1,433 Do p ref____ . 1 0 0 7 5 J ’ly 1 88 A pr
*8434
85*2 8434 85 85 85*2 85*8 85*8 I 85
1541- 5 4 I4 15434 154 154*2 964 N Y N H & H artford-100 149 A pr .8 1623» Mob 1 I
154*2 15412 154*. 154*. 154*4 154G 154
140 140
*139 140
3 N orthern N H _______ 100 139*2 M ch 11 I 4 0 I4 A u g 25
*139 140 ____ ___
*212 ___ Last Sale 210 June'10 ----- Norwich & W or prelllOO 210 M ay l. 212 M en.;
+212
*212
*212
*____ 190 *182
190 *182 190 190 190 *182 190
1 Old Colony______ 10(1 181*4 Sep 14 : 00 ,h n /
*182
190
3934 40 39*4 40
425g 44*2 43*2 43*. 43 4312 4312 43*2 577 R utland pref_____ __ 100 26 M ay . 4412 N ov 1
*108 ___ Last Sale 106 Oct’10 ----- S eattle E lectric_______ 1 0 0 103 A u g l8 llo ja u i
*106
*108
*100*.
102 *102 103*2
98:|4 A ug 2 1 0 6 M en 103*4 103U ♦ 101*i
*102 103*4 10312 103*2 102
27 Do pref_______ ..1 0 0
174*2 174*8 1751, 175 176
173'8 17373 172 1723s 17334 174 17412
Union P a c lllc ..............100 163*4 J ‘W 36 204*2 Ja n 3
92-8 92=3 *92l2 9314 *92*2 93 1,184
28 Do pref........ .............1 0 0 83*4 J ’ly 2 6 1033a J a u 3
*923S 0333 93 93 *92*2 93
O ct 15 168 Ja n 17
*155
15712 157X2 *155 . . .
+154
*155
25 V erm ont & M ass_____ 1 0 0 15831 Sep
*154
2j
95*'' Med*
867g 87 1,176 W est End S t_________50
86 86
86 86*s 86 87 8612 87
85*. 86
41 Do p ref____________50 99 J 'ly 6 109 F eb 10
*101*2 105 *102 105 102 102 102 102 *102 105 102 102
Atiscellancous
J ’ly 27 49*2 O ct 20
*47*2 48
471. 4734 48 481, 48 483g 4712 48*4 46l4 46*4 1,135 Amer Agrtcul C hem _.100 2 6 Moh
3 106 Sep .6
102*4 102*4 102*4 102*4 102 102*2 102 102 IO2 I4 1 0 2 * 2 10238 1023g 257 Do pref__________ 100 98*4
4% A ug 2 8's F eb il
434 4"g
5
5
275 Amer Pneu Service___50
47g 47g *478 5 *47g 5
14 j ’ly 16 24 F eb li
15*4 15 15 14*» 14*2 ’14*4 14*2 225 Do pref_____________50 111
15*2 15*2 *15 15*2 15 118*2
O ct 3 1 2 /'!a Men 2
561 Amer Sugar U etln____100
118 118*2 118 119 118*2 HO
118*1 119 118 * 19 118
116*2 155 Do pref___________ 100 Ill'll O ct 3 124 Mch
116 116*. 116 116*2 11612 116*2 116*4
116*2 116*2 116 116*. 1405g
1413S 141*4 142*8 142*s 143*8 142*2 14378 10,781 Amer Teicp & T eleg.,10 0 1 2 7 '4 J ’ly 2 6 1437g N ov 4
140*. 141 140 141
26 J 'ly 7 39U Mcll 19
534 Am erican W oolen
100
*3412 35 34 34*4 34 4 34
32*2 32*? *31*4 313,| 31*4 31*4
97
707 Do pref_______ Z .'lO O 91 J l y 1 10414 Mob 2 3
96 96
96 961, 9612 97 9G34 97 9634 97 963
10
10
*10 ...
83 Atl Gulf & W I S S L . 100 7 Mch 18 11*2 Ja n 7
10 10 *10
10 10
8 10
691 Do pref__________ joo 16 M ayiu 28 Ja n 6
19 19 19 19 •_____ 20
19 19
19*2 19*2, *19 20
Last Sale i July’10 ___ Boston L an d .
4 1 , J ’ly 2 8
10
8 *2 J a n 11
100 Cum b Telep & Te’leg'lOO 138!2 J ’ly 2 8 1 6 2 * 2 Men 3
*145 150 *145 150 *145 150 *146 150 *146 150 1509 1509
7*« A pr 14 lljg J a n 3
9
8
834 0
*8
8
8*2 8's 26987S 2749 274*2 27412 482 E ast Boston L a n d ..
20
274 Edison E'ec Il'u m . 100 12395 Jar.
N ov 4
267 267*2 267 267*? 267*2 268*2 268*2 269
J 'ly .6 27412
lGJtgJfl 1 o
155*2 155*2 154 154*? 155 1551? *154*2 155*2 155 155*2 155 155*4 186 G eneral E le c tric .. . 100 1 376*4
Feo b 90 N ov 3
8912 897g 5,382 M assachuscttsG asCos 1 0 0 89 M
87 87
87 87
87*4 8734 8734 881, 8 8 * 4 90
95*2 829 Do pref....................... 1 0 0 214l4 Jr.Uay lb4 9 7 Men *3
*94 95
94*2 05 94*2 95 9438 9434 94*s 947g 95
225 O ct 25
22 M ergenthaler L ino___100
*223 225 *223*2 225 223*2 22312 223*2 2233g *223*8 225 *224 226
534 534 298 M exican T ele p h o n e.. 10 2«4 Ja n 3 034 M ay io
634 534 *534 6
534
6
57g 57R * 5 3 4 6
Sep 2 2 124 J a n 3
39 N E C otton Y arn____100 107
112 112 *110 112 *110 112 112 112 112 112
38 Do p re f___________ 100 99*2 Aug 3 115 Ja n 11
111 111 *110 112 110 111 111 111 *110 111 u i ‘ i n
Aug 17 138*2 M e n u
137*2 339 N E T elephone............. 100 129*2
*133*2 130 136 136 *133*2 136 *135 136 13512 135*2 95136 Oct’10
____Paclllc O oast P o w e r.. 100 94 Mcll
100 Ja n 5
*94
Last Sale
*94
*96
*96
153
J'ne3o
173
Pullm
an
Co__________100
166*2
1671y
200
F eb 11
X165 167 166*. 1663, 160 167 *166*2 167i2 *12
13
70 Recce B u tton-H ole. 1 0 11*4 Ja n 1 5 14 O ct 3
__ _ 169
♦ 168
13 13
12*4
12*4 103*2 1037g
12 12 *12 13
13*8
542 Sw ift & Co________ 1 0 0 1 0 0 J a n 24 1 0 934 Ja u 1 0
1037s 104 1033s 104 10358 1037s 10312 10334 104 104 *30
2 0 ro rrln g to n ____
25 2 8 M ctiJo 3 4 * 4 Ja n 3
31
*30 31
297g 297g 297S 31 *27
28
122 Do p r e f . . . ” .
25 2 7 Ja n 18 31 M ay 0
28 28 *2712 29
*28 29
100 105*2 Jail 15 2oO
184 1,606 U nited F ru it.
10
184 185 182 184*2 180*4 182 182 183*2 182 184 183*2
65 1,780 Un Shoe M ach C orn. I 25 4 6 * 4 J ’ly - 7 1**4 Sep
A pr lb
55*2 553s 55 553s 55 55*., 54*. 55 5434 55*4 55
29
29*4 217 Do pref______
25 25*4 J ’ly 9 31 Ja
29*4 293g 803S
u
29 29
29 29 29 29*4 *29
29*4
8134 28,127 U S Steel O orp..........." l o o 0 1 3 s J ’ly 2 6 003j Ja n 34
783s 787g 77 75*4 7734 78*,s 785g 7938 79 80*4
1177g 254 Do pref___________ 100 1 1 1 J ’ly 2 6 125;,s
*118 119 117 118*4 1171. 117*? 11634 11634 117*2 118 11778
n
18
18
40 W est Telep & Telcg._10(. 14 F eb 1 1 1 J3 . Ja
18 18
Sep 3 0
*17 19 *17 19 *17 19 *17 19
149 Do pref___________ 100 81 Aug 15 94 Ja u o,
*85 89 *85 89 *84 89 89 89*2 90 90 *90 91
87g 87g 8 * 2 87g 3,568 A dventureAlining
C on.
25 4 J ’ly 13 1J Feb .
9*4 83, 884 834 9*8 1113
8*4 9*4 83., 111.
11* 11*2 11*2 3,940 Algomah Mining . . ” .".*..25 10 Sop 2- 1 4 3 4 Sep 15
101.
111? 11*4 11*2 46 46
10
11*2 11*2 *4234
J ’ly 1 3 6s F eb .
44*4 *43 43*? 4334 46 713S 72*8 *76**2 *7*2* 1,660 A ilouez_______ * 2 5 5i
42*2 43*.
13,248 A m algam ated Uoppe'r'lOO 56*4 J 'ly 12 9034 J a n 8
69 69*4 6 8 * 4 687g 69*4 70*. 70*8 2834
7Mg 2834 29*8 29
19*2
J ’ly 29 40*2 Ja n 3
29*g
6,650
Am
Zinc
Lead
&
S
in
.
25
28s4
283g
2S3g
2812
28
28*4
28*3
36 J ’ly 13 6334 Ja n 3
43 43
1 0 0 A n a c o n d a ............. .. ._ 2 6
M ay _ 60*4 Ja n 8
*18* 1812 2.770 Arizona C om m ercial. 26 12*4
17*4 17*. 173,, 18*4 18834 18*4 ’ 1 88 ** 44 I 884
17*2 18
5
J 'n e 30 12*4 Ja n 14
87g 834 9 1.200 A tla n tic ______ . . . 25
9*4
9
8*2 8*2 8*.
*8*2 .60
8*2
ch u .70 Mch 2s
10 L10j M
Last Sale .50 Oct’10 ___ Bonanza I)cv Co
+.50
ay 4 2414 Ja n 13
1734 18 1778 177s 2,523 Bos&OorbOop&SllMg 5 5 NMov
♦ 173s 17*. 17 17*4 17*4 185*4 175g 18
_ I 8 I4 M ayzi
5
5
1.07Q
B
utte-B
alaklava
C
o
p.
10
5
5*g
*5
5*8 53g
5*8 61, 5*2 61,
15'’s J ’ne3v 28*2
Ja n 3
2038 21 3,717 B u tte Coalition______ 15
19 19*- ' 20 21
19*4 1934
*19 19*2 20 20
57
63 2,837 C alum et & A riz o n a .. 10 4 4 3 4 J ’ly 12 103 Ja n 3
59 69*4 56 58*4 523g 5634 53*2 55 54*4 57 *560
J ’ly . 685 Ja n 3
565
8 C alum et & H e d a ____25 50J
565 560 560
+555 665 *550 560 560 560 560
1
3
1
J
’ly
15
38
Ja n 3
2212 9 3 5 C entennial..................... 25
2134 2134 22 22*2 22
20 20 *20 22 *20 22
300 Cons M ercur G old____ 1 .04' J ’ly - .16 Ja n 10
.08 *.05
.08 .08 .03 .08 .08
.08 *.05
.08 *.05
*.05
7134 2,783 Copper Range Con Co 100 5 8 Feo 17 85. Ja n
7H2 72*4 73 73*4 71
72 72*2 71 72*? 7R , 72
31'.
Sep
28
9SaMch28
4
4 *37g 4*4 *37g 4*4 335 D aly-W est.......................... 2 0
4
37g 37g 37s 4
4
E ast B u tte Cop Mln__ 10 6*4 J ’ly 13 1334 J a n 3
83., 83S 8's 87g 10*8 10 10*g 934 10*8 11,365
8*2 9
8*4
200 Elm R iver..................... 1 2 .05 O ct 11 2*2 Feb io
.15 .15
11*4 12
IMS 12 1,458 F ra n k lin ___________ 25 9*-> J 'n e ju 2 2 * 2 Mch
11*4 ‘ ioig T ig 1153 TT*^ H34
7*2 734 .753 77g 5,325 G iroux C onsolidated; 5 6 J ’*y 2 0 1 2 *2 Ja n 1 0
7*2 7*2 7*4 73? 7*4 73,s 7*. 7*2 35*2
1 1 1 * 4 Ja n . 3
39
41 1,629 G ranby C onsolidated. 1 0 0 2 0 J 'ly
38
353.| 3512 35*? 35*4 35*2
35 351? 35*4
o38 Sep 2 9 117g Ja n 3
7*2 734 758 8 7,121 Greene C a n a n e a .. . . 20 143.1
7
7*4 7=8 28*4
7*8 V*4 7
7*8
7*8
j
i
y
19
30 Ja n 12
2S3g
28
808
H
ancock
Consolidated
25
2S3
4
28*4 28*4 *134 2
27*4 27*4 *26*2 27*2 282 28
515 H elvetia C opper____ 26 134 O ct 27 578 Ja n ■*
*134
17S 2
2
2
2
2
2
2
10
J ’ly is 4434 Mch 9
17 17 16*4 17 1,665 In d ian a M ining______ 25
15*2 15*? 15*2 15*2 1 0 16*.| 16*2 17*4 23
13 *2 M ay j 28i2Jan 3
23*4 1,160 Isle Royale C o p p e r.. 25 xO
22 22
221.
22*. 22*4 22=8
22 22
23*2 23
" Sop 1 11 Ja u 6
640 K err L ake...................
5
*2
6*2 6*2 6»s *63^ 65s 65g 63g 6*8 6*8 633S
6 *2
3
J ’ly 7 034 Ja n 14
90 K eweenaw C o pper___25
*31. 4
3*8
*3*2 4
3*2 3*? 3*8 3 * 8 393.,
3*2
2
bi2
J ’ly 15 94*2 Ja u 2 2
3934
4012
7,474
Lake
Copper
Co_____25
41
41*4
38 38
38 38 38 3 9 *?
41*2
9
J ’ly 3 3 19 Ja n 14
11
815 La Salle C opper_____ 25
1134 11
11
*10 1034 10*2 10*. 1012 io*? 1034 11
8 105S O ct 13
93g 91, 9*8 9*8 93, 93., *912 . 934 9*2 9* 755 Mass Consol___________ 25 .354*2 -Men
934 10
ct 21 Ts Ja n 13
Oct'10 ____M ayflower ________ 25 .95 NO ov
.50 *.35
.50 *.35
*.40
*.35
.50 Last Sale
2
5 Ja n 7
300 Mexico Cons M & S ._ 10
.05 . .07 • .04 .05
*.07
.15
Ja n 4
+193.! 20
1934 I 934 20 20 20*2 20*2 * 20*2 20*8 20*2 *2*0*38 980 Miami Copper________ 5 17 J ly 18 298*2 Ja
n 21
315 M ichigan______________25 37g J ’ly 13
5
47g 53g 5*4 5*4 5
*434 5*? *4*2 5*? 5
5
165 M ohawk______
. 25 4 3 J 'ly 36 75 Ja n 2 2
51
503.1 51*. 5034 503, 50*. 50*2 5012 51
50*2 52 +50
Ja n 11
2,914 N evada C onsolidated. 0 i73s J ’iy 6 27*2
21*8 213g 21*8 213s 2.770
203S 203,1 20 20*s 20*4 20*4 20*4 203,
12
New A rcadian Copper 25 3 *2 J ’ly 13 1120 >gJan
*434
434 434 *412 5
5*8 53, 1034
5*8 1118
512 *5*4 5*2 1,841 N1
5
M ay 2 6
pissing M ines_____ 5 934 Ja n 17
111, 11 11*4 11 11*8 3534
11*8 11*3 33
11*8 337s
50
Ja
u
3
18
J'ncjO
24,360
N
orth
B
u
tte
__________
15
37
35*2
367g
3534
35
35*?
331N orth L ake___________ 25 0*>3 J ’lV 13 257s Mcll 7
Qlo 337s
81, 8*2 81, 33*2
8*4 8*., 8 * 2 83,
9*4 8 * 4 87g 834 " 2.200
85 O ilbw ay M lninR___I . 25 5 Sep 7 1234 Ja n 1
8*4
9
*8
81, *8*2
8*2
8*. *8
200 Old C olony___________ 25 .25 A ug 9 H.1 Feb
.60 ‘ .50 .60 .50 .50
.60 .55
.60 +.50
.55 *.50
*.50
2.9*2 J 'n e l5 55 Ja u
43
980 Old D om inion Co____25
41*. 40*2 41
41*4 42*- 42*2 43
43*4 371
40*2 40*. *
n
O sc eo la .....................
25 114 J ’ly 27 1 26 16 34 Ja
13412 133 134
*133 134*? *130 132 132*2 133 134 134 133*2
Ja n
15
380
P
a
rro
t
Sliver
&
C
op.
10
12
J ’ly 0
15
141
2
15
14*. 14*2
137S 137« 14 14 *14
50 J u i n c y . . .............. .............25 6 6 J ’ly 5 92 Mch .
78 *78
80
77 77
76 77 *76 78 76 78 76
22 521*8 2 1 * 4 2.364 Ray Consol C o p p e r.. 10 15*4 J ’ly 1 243,, Mch 8
20 20*s 20*4 20*4 20*4 217s 213g Sale
20*2 203.,
13g Sen 29 234 Ja n
1*2
Oct’ 1 0 ___ Santa Fe Gold & C op. 10
*1*2 13, *1*. 13, *11, 2 *1*2 Mi 1Last
14*4 13,177 S h a n n o n ______________ 1 0 834 J ’ly 5 18 Ja n 334
14*2 14
127g 133,s 123., 13
127S 137S 1334 14
*11. Ml *1*2 13, *U2 13,| 1*2 1*2 1*4 134
120 South U tah M & S . . . 5 1*4 j ’ue30 . 334 Ja n 19
54 54 *531*2 63*; 757 Superior___;___________ 25 36 J ’ly 19 6 8*4 .Jan M
53
54
61*4 fill. *5034 528 51 52
77g 8
8
8
606 S u p e rio r* Boston Min 10 733 J ’ly 14 18 Ja n 12
73.1 Vs 734
734 Vs 734 8
1434 115g 15 7,973 S u penor& P ltts C opp. 1 0 9 J ’ly 5 16*8 Ja n 1 0
13*8 13 l,s *__13 133s + 1314 133g 13*4 13*2 13*4
6212 650 T a m a ra c k _____________25 4 5 *2 J ’ne 2 2 78 Ja n 6
60
60
60 60*2 GO 6212 61
60
6*4
1,525 tr in ity ............................... 25 414 J ’ly 18 1138 Ja n 3
6*4 6*4 63g 6
5*2 6*2 5l2 5*2 0
*5*2 6
Last Sale 41 Oct‘10 ___ UnltedStatesCoal& O U 25 33 MehOl 41 <s O ct 21
40*2 40*2 40 40*8 40 40*2 40*2 407g 3,794 U S Sm elt Ref & M in. 50 33*2 J 'ly 2 0 £5 Ja n 3
40*2 40
40 405S 483.1
4 534 J ’ly 20
487g 49
49 483., 483., 4834 487g 487g 487g 1,506 Do pref_____ :____50
63igJan 3
49 49
3*2 *3*., 3*2 312 3*8 *3*4 3*2 705 U tah-A pex M ining___ 5 2*2 J ly 2 2 5*4 Ja n 3
312 3*2 3*2 33S 3*4 241.
233, 243., 2434 26*2 26 26*2 2,411 U tah C onsolidated___ t 1 8 * 2 J ’neao 46 Ja n 3
24 24
24 24 *2312
50*2
49'- 501- 51 51
U tah Copper Co_____ 10 /i3934 J ’uo30 00*2 Ja n 3
487g 49*i 48 49*8 49*4 49*4 *2l»
... 61*2
3 679
3 *27g 3*8 *234
3
3
125 V ictoria ______________ 25 2*2 J ’ly 32 534 Ja n 14
*3
3
3*4 3
103s 10*4 10*2
*10
10*4 1.340 W in o n a_______________ 23
934 10
*95g 10
10
934
6 J ’ly 13 15 Ja n 14
*938 132
40 W olverine_____________25 1 0 2 J ’ly 1 2 i50 J a n 3
132 *125 132 132 132 133 133 *130 132
*11. 134 *125
23 114 J ’ly 2 6 33.1 Ja n 14
*1*2 134 1*8 1*8 *1*2 M4 134 13.1 134. 2*4 570 W y a n d o t..............
8 iSstace pay'c ot assu si'ts caned m 1909.
* Did a n d asked prices, d New stock. 4* Aaa’t nolH h II' r .af«rvlr ti Itr
Saturday
Oct. 29

"iiu




Range for Previous Year
(1909)
Highest
98 Ja n
lOO-h Ja n
Jan
Ja n
223*2 Oec
13212 Jau
295 Sep
I134 Jau
0 0 *2 Ja n
10 M ai
4iii 2 Dee
113 Ja n
116 Nov
267 Ja n
128*2 N ov
75 Jail
79 van
195 O ct
IU 4 Ja u
681? Ja u
4 153 NOV
146 Feb
200
A pr
190 Dec
20 A pr
90t4 Mch
97*. A pr
-172*8 Feb
93io Mch
165 Ja n
88
Ja n
102
O ct
3 3 * 4 Jan
94 Ja n
5i>& Ja n
13 Ja n
.1 1 4
N ov
i ll 7 Nov
1 2 514 Feb
27*2 1’eb
9 3 1 , Ja n
4 G A pr
1514 A pr
334 A pr
125 Ja n
7
Ja n
245 Ja n
1503g Feb
69 J au
89 Ja n
2 0 2 * 2 Men
2 “ Ja u
68 A pr
93 Ja n
126*4 Ja n
76 F eb
168 J a n
U34 J a n
100 J a n
2 0 * 2 May
2 4 >4 Ja n
12ui2 Ja n
x64 Mch
28*2
4134 Ja
Febn
107 Feb
U>8 Ja n
76 Mch
47g O ct
34
Ja n
65 Feb
23 Mch
38*8 Feb
30 Feb
8
J iy
.45 Feb
17*8 J ’ly
8
Sep
2 l 3g Feb
0 0 * 4 May
685 Fob
29 Feb
.10 J'n e
6 8 * 2 Feb
7*2 M a y
7*2 Feb
1 Oct
13 Feb
73g J 'ne
00 Feb
9 Feb
8*4 Sep
5l2 Dec
22*s A pr
7*2 A pr
2*2 May
16 Ja n
10*4 J ’ly
4*4 Mch
.30 A pr
3 *2 A pr
1234 Feb
63.! O ct
*57*2 J ly
16*2 Feb
3*2 NOV
97g O ct
47 Dec
4i2 Mch
584 Nov
.40 J'n e
4 7 *4 Feb
122 Feb
19 Dec
83 Dec
"I* V N ov
13*2 Feb
34 Ja n
13*8 Nov
127s Apr
02 J ’ly
9*4 Doc
28 Ja n
39 Feb
44 Ja n
4 Oot
37*4 Feb
3 9 3 4 Feb
3 O ct
434 A pr
139 Mch
2 O ot
225
1 2 4 )4

l25*g O ct
100 J ’ne
239*4 A pr
135 Deo
235 M ch
153 N ov
301 J a n
22 F eb
77*? N ov
1-4*2 Mch
1.6 U O ct
162 J ne
123. J ly
275 M ch
130 F eb
103 Deo
88*- Sen
1951.1 J a u
19 O ct
84 N ov
174*8 J ’no
149 A ug
Z15 Sep
200ig J a n
40
J ’ne
117*2 A ug
107 A ug
21834 Aug
1 1 7 *4 A ue
175 A pr
08*8 A pr
112
A pr
6 0*4 Aug
105 J l y
9*s Feb
221* N O V
136 A pr
131 A pr
145*8 Sep
4018 Aug
108 J ’no
1 2 U Sep
51*2 Aug
8*4 O ct
147*2 N ov
13*8
JA’no
200
pr
173 A ug
83 "4 Deo
97 A pr
2 2 0 * 4 Deo
.
3*4 O ct
125 O ct
118 O ct
139 Sep
108 O ot
199 A ug
12 Sep
114*2 A ug
34 D ec
35 N ov
170 Deo
71 O ct
3 1 * 4 Sep
9478 O ct
131 O ct
1 1 Deo
96 Dec
10*2 M ay
62 O ct
96*2 NOV
40G Dec
54
Deo
6 1 *4 Deo
18 J a n
,89 M ay
24 Dec
11*4 Dec
33*>8 N ov
119 J a n
695 A ug
4 4 * 2 Sep
.35 Ja n
8 634 N ov
12 Mch
10-">s A pr
21* J a u
19 A ug
12U N o v
11012 Dec
14=8 N ov
38 D ec
7*2 Aug
’ ’ 33**4Feb"
93a A eg
C734 Deo
74*4 Dec
19*8 Dec
18*4 May
l Deo
0 N ov
18*a D ec
13i4 Mch
70*8 J a n
30 N ov
83S DOC
13 Sep
85*4 J a n
11?8 A ug
141. Deo
.90 D ec
69 A ug
170 Deo
36*4 J ’hO
99 J a n
" "2*8 Jan"
177a Ja n
07 Dec
18*2 M ay
18i2 J ’ly
90 F eb
17tg J a n
3 9 * 2 N ov
69 Sep
54 O ct
634 J a n
4934 N ov
06 N ov
6 Deo
H3>4 Deo
168 A ug

4 Jan

INT()V.

Boston Bond Record

5 1010.1

1 23 7

U .'
W eeiCs r'§.5|| Range
fn c
W ecu's i'J O ' R ange
Range or § s 'l Since II B o s t o n s t u c k K X O H ’G E
F riday
Range or J o
Since
Sant sale ®8 ** Ja n u a ry f(|
W kkk E nding jsov 4
Sou 4
/.asi sa le oa - J a n u a ry 1
I I
Low H igh
!m w H m n -VO JsOU t n a \
A m A vrioulCU em 1st u s ..1928 A-O
102 I
Illinois Kteet debeu 6 s 1913 A-O ilia
100
O ct TO
09*3 1 0 1
Am leieptta l e, eou li 4 s .1929 j . j 01 Kale 101\
907g 01
la Falls A Sioux C is t 7 s.. 1017 A-O 100
117
A p t'08
C onvertible 4s...................1 9 3 6 M-S
106 100 |
K an O Clin A KDr 1st 5 s ... 1026 A O
(•3*8 Mai TO
03 07
Am W rit Panor l s t s 16sg 1919 ,j . j 1 0 0 Salt
Sep ’10 K
a
n
C
F
t
S
A
G
ull
e
x
t
6 s.. 1011 j-l>
Ob-3 F eb T b | ... 99*4 0934
A m Zinc lj A S deb O s.... 1 9 1 ,t jj-N 114 ........ 112 i 12 I
1928
M-N
K
an
U
F
t
S
cott
*
M
Os__
11
ti
*4 O ct T 1
113
ll8
A n z Corn Cop 1st conv Os io2o j u 04 Sale 02*4 1*4
K hu OM A 11 gen 4 s...........1034 M-S
93 O ct ’ 0
VY Si 03*8
A tou I'ou A 8 Ife gen g 4 s .. 1095 A-O Oi-Sj, 08 *• 8 :lu 08*3
A ssented incom e 5 s........1034 M-S 00 03 90
90
i
2 1 00
02
A djustm ent. g 4»....... I ’ly 1005 Nov 0 0 34 02 01*8 01*8
K an C A M Ity A Hr 1st 5sl920i A-O
O ct TO — 1 1 0 2 103
' 8 ta m p e d .................j ’ly 1005 M-N OO3, 02 02S Sep ioj.
M aine C ent cons 1st 7 s ... 1912 A-O 102*3 103 1103
13°s N ov’OO »
50-year conv 4s................1055 J.D
102*a J ’l y ’10 .
Cons
1st
4
s
........................
1012
A-O
101 *4 Sep ’05 ... .......... .........
10-year conv 5 s ................1017 J-D
117S F e u ’10 .
M ara H ough & O nt 1 s t Os.1025-A-O
115 J ’n e ’08
A tlG u lr& W 1 88 la n e s 5 s .’50 j . j 07 *4 Kale 07
07 *3
M ass Gas 4 * 3 3 ......................L020; j J
09
O J‘4 . 18 07 OO3;
B oston E lect 1. oonsoi 5 s .1024 M-S
110 F e o ’<)4!.
M
icb
T
e
le
p
ls
t
5
s..................1917
J- J
U7 A ug’1 o1. — ! 07
00*4
Boston At Lowell 4 s..............1010 J - J
1 0 0 *4 Alar'00 .
M inne Gen E lec con g 5s 1920 J - J
A iig’04
Boston as M aine 4 ‘us............ 1044 J - J
104 S Oct ’08 .
N ew E n g Cot Yarn 5s___ 1029 F-A 101 *3 103 11 00 22 *Hi3 Oct
TO
.
1 0 0 *a 105
B oston T erm inal 181 3*38.1047 F-A
112*3 Ja n ’03 .
N ew
Ke uugg Treie
elepp nh o s............1010
s.............1015 A-O
ow
A-O
102
F e b ’09 .
B u r A Mo ltiv cons ‘.is .. .1018 J - J
103 F e b ’- 10. ... 103 103
f*S.............................................1010-A-O
100*3 sop ’08
B u tte A Boston 1st Os___1017 A-U
100 J ’ne’O l'.
N ow E nglan d cons g 5 s... 104a!J - J
B u tte Elec A P o w 1 s tg 5 s. 1051 J-L)
boston T erm 1st 4 s........1939 A-O
C edar Bap A M o It 1st Vs.1010 M-N
1 1 3 s M av ’ 1 0
113*8
N e w ltiv e r (TliO) conv 5 s.l0 3 4 J - J
5 O ct TO . .. 75 7 9 * 3
C ent V erm t 1st g 4 s..M a y i9 2 0 <j-F 87 *a Sale 87*a 87s|
85
N Y N it A H con deo 3 S b 1050[ J -J
101*8
101*8
7 90*8 1 0 2
O B A vi Iow a l)iv 1st 68.1010 A-O
li 103 O c t’07 1
Conv
dob
6a
(
c
tf
s
)
..........lO
is
ljJ
134
136
134
*4 O ct ’It)!. .. 131
135
Iow a I)iv is t 4 s .................1010 A-O
08 s J ’ne'10
"08*3 08 s Old Colony gold 4 s ..............J 024! F- a
lOr A p r’09
D ebenture 5 s...................... 1013 M-N
l o t ‘>
4
M ar’ 10
101 »a 10 1**4 O reg By a N av con g 4 s.. 1040! J-I)
96
h
Sep
’OO
|
I D enver E x ten 4s...............1022 F-A 0 0 ‘4 100 0 0 s 0 0 s
00*8 100 Orog Sh Dine 1st g 0s........1922 F-A
113*8 A ug’10 . ii3*6 no**
N obraska Exter* 4 s ..........1027 M-N
09 M arTO
00 0 0 \ P ore M arq u ette deb g 6 s .. 1 0 1 2 J . J
00
M ar’l o .
08*3 00
B & 8 W e t 4s.....................1021 M-S
00 O ct 'ou
B..............
epuo VaUey 1st s t 0s . . . 1 0 1 0 J - J
103
H,Sep TO
103*8 103*8
Illinois Div 8*us................. 1040 J - J
87 t8 Sep To!
Itu tlan u 1st con gen 4 *3s . 1041 J - J
8(1 **8 .
107 *3 . i d . ’05:
,Chlo j o tty A S tk Yus 5s .1015 j - J 1 0 1 * 4 Kalb 101
m
i
s
1
100
B
utland-C
anadlan
1st
4sl040
J
J
102 Mat ’02 i
Coll tru strefu n d in g g 4 s 1040 A-O
90S O ct T >
89
B avanualiE lec 1st cons 5s. 1952 J«-«
-J
78*3 A p r’lb!
78*3 78*3
. Oil Mil A S t 1’ D ub D O s..1020 J - J
115*3 Ja n TO
Ibeattle Elec 1st g 5 s..........1030 F-A 103*3 105 103
115 S
*3 Sep TO .
104*4
lO tlltA S t P Wia V <liv (isl020 J - J
120
F
e
o
’051
.......
Slhinnon-A
nz
1st
g
Os___
1919
M-N
00*3 0bJ4 ...9 1103
68 110
O bit At No Alien 1st gu 5s .1 0 3 i M-N 00 l-j 101 * 00 O ct TO
0
9
*
i
1029;
J
-J
00
*s
T
e
rre
n
a
u
te
n-lec
y
5
s___
07 A p r’o / .
Oblo * W M idi Ken o s ....1 021 J -D 101*8 102 102 O ct TO 1 100 ' 04 T orring um 1st g 5 s.............1918 M-S
1 0 0 3, M ar ’ 1 0 . ! ! . i'ou*, i b o 3*
Concord A Aiont cons 4 s.. 1920 J-D
01 Dee '071
........ U nion Pac B B A ig r g 4 s .l0 4 7 J - J
101 S, O ct TO . ... 00*8 101 *3
Conn <fc Pass It 1st g 4 s ... 1043 A-O
1 1 2 * 4 Ja n '03!
-O -ytar conv 4 s..........................1027!J - J
104
ct *10 , ... 1047g 109^§
Cudahy PftC K (xhe)lstg 5sl024tVl-N
1 0 0 * 4 Aug’oo
U nited F ru it g e n s 1 4 S s.1023 J - J 07 07 *3 07*4's OOct
TO .
05*4 07*3
C u rren t m v er i s t 5s..........1020 A-O
90 AorTO l
U K Coal Jb Oil 1st s f Os.. 1038 M-N 165
171 105 135 1 ...2 145
106
D el G r h ap A W 1st 4 s ... 194G A-O 88
80
M
ar
’10
U
S
Steel
Corp
10-60
yr
5s.1963
M-N
104
*8 O ct TO . ... 1 0 1 * 3 l05*a
Dom inion Coal 1st s I 5 s ..1040 M-N 08
90 S J ’no'iO;
W est E nd S tre e t Bv 4 s___ 1015 F-A
08*4 J ’ly TO . ...,, 07 08*4
F itcu b u rg 4 s ..........................1015 M-S
103
*8 A pt ’06
Gold
4
* 3 8 ...............................1014 M-S
101 34 J ’ne’OO,.
4 s ........................................... 1027 M-S
Oli A p r’odl
Gold donenturo 4 s.............1010 M-N
08*3 A pr’lbL
08‘-i *09*t
F rem t ELk A Mo V 1st 6 s ..1933 A-O
133 M ar ’001
Gold 4 s.............................................1017 F-A
08
O ct T O . ... i 07 00
U nstam ped 1st Os............1033 A-O
140
A
p
r’05'
W
estern
Telepli
A
T
el
5s.
1032
J
J
07*3
08
07
‘4
o7
ij
10,
04*3 00
G t N oi U 11 A y coll tr 4s 1021 J - J 00*s ‘
05 34 Oil *8 101 04*3
W isconsin C ent 1st gen 4sl04oj J - J
Olbg J a n T o . ...' 043g 0 4 ^
Itex i8 tered 4 s......................1021 y -J 05 u .
05*3 05 sl l j 04*3
N oth —Buy er pays aocrued in te re s t in add ition to th e pu rchase prioo for all Boston Bonds. * N o prioe F rid a y ; la te s t bid a n d asked. U F la t price
BOSTON STOCK v ti n
W ickk k ndin <- n o v 4

/ “rice
bnday
Aov 4

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
s h a r e P ric e s—N ot P e r C en tu m P ric e s
M onday
Tuesday W ednesday ( T h u rsd a y
Oct 31
A’ov 1
A o v 3 I A ov 3

Range Since
Range tor Previous
Sales
A C T IV E S T D C ik S
Ja n J
Year ( m u m
o/ the] ( to r B onds an d Jnactive
Week
Stocks see below)
6 h a rw |
Lowest
llty/iesc
Lotveu | H ighest
:
I
lln ltiin o re
........Con. G as EL U a P ow .100 40 M ar21 62 Oct 18 30 M ar 48 Deo
f __ ......... .......... ......... .......... .........
0
02
-----L
r
U“
so M
’ly 14 76 M ar so May
l ‘26**i 1 2 6 34 126*3 126*3 *124 *3 126 *.......... i 2 (i **125 127 +U
126 125*4 390 N o rth ernl*I6
C et.....................
n tra l.......... 100
60 115
Ja narl s1 00 JFeu
28, 100 Ja n 121 *3 Deo
. .......... ...... . . . . . . . .. . . . . . . . . .
. .. . . .
20
* 1 0 >a 2 0 * 3
87 Seaboard (new )...............lo o J s ^ J ’ly oo 132
27i
J
a
n 3 1 L34 Feb 28*4 D eo
43 *... . . . 43 *......... 43 *4 l 43 * 1 1 2 0 <41
1 *41
42
....
Do
2d
prer................loo
40
O
ct
17
47
Ju
u
48 Deo
1 .
*
14*3 14 Si
• 1 A Hj 16
OUO,United By & E lec tric.. 6 0 l 2 ‘*i,May 15 *3 J ’iy 168, 2 2u3434 Feb
Fob 14 Si Deo
P h ila d e lp h ia
24 24
24 24
24 24 *24
Si
05 A m erican C em en t......... 50 17 S, Sep 19 28 J a n 3 25 Dec 43 Ja n
4234 4 2**, 43 43 *43 24
43
43
43*a
*42*3 43 *42*3 43
20 A m erican Bail w a y s .... oO l l 3, J 'l y j i 60
Ja n o n ° 8 J ’ly 48 Deo
4134
43*3
*13*4
43*3
43*a
43*4
44*3
43*3 43 s,
43S, 48 Hi 44
O lO'Uam bna S te e l................. 50 40*4 J ’ly 2 0 53 *3 Ja
n lo
Feo lb•1& Deo
* 1 1 °, ll* t * i 1 ft8 1 1 * 8 11 Si 1 1 *3 i l a* 1 1 * 8 ♦ il^g H 7* 1 1**4 U*4
3 j K loetno Co of A m erica 10
39 1 2 * 3 Ja n 1 1 ^;32*8
1 0 *e Ja n
TJ.»J*]y
48 48 »47Si 49
48 48*4 <*48 49
4bSi 48*3 635 E lec Storage B a tte ry ..100 1421 *4 JJ ’ly
48*4
48*4
’neJo
04*4
M
a
rll
43
Ja
’ly
32*a 32 Hi 32 Hi 32*3 32*3 32 *3 32 *s
32Si 334, 32 4 33 *3 4,007 G en A sphalt tr c t l s ___100 1U*» J ’ly 2 o 34*8 Ja n 20 15*3 Ja nn 3033 * si4 JDeo
*7834 7 9 ♦ 7a *3 70
70 7 b
80
80
*t
79'g
76
79
70
___100
1,403
Do
pret
tr
c
tf
s
04
J
’ly
20
84*4 b**u ioj 53 Jan 84*3 Deo
... . . . ..... . . . . . . ......... # . . .. . .
0
eystone T elep h o n e... 60 7 J ’ly 0 13 a an 1 0 ; 0 Si 3 an 15 A pr
426*3 2 0
25 26Si 25*3 2 6 >4 20*3 26
26 26 ..........K
20
26
772 bak e S uperior O orp___loo la *3 J ’neJo 2 8 ’4 Ja n 3 1434
Jan 33 *s May
04*3 05 *03 04
04 04
04 S. 04 04*3 *03 **4 8048 3j 410 Denigk C <fc N av tr ctfs. 60 80 J ’ne3b 123 J a n 7 1 06
Ja n 125 *3 Deo
83 *3 84 *s 84 8 1 34 *0334
81 *3 84
8434
87
**s
86*3
85
Si
87
02
*3
J
’ly
37
43,323
L
ehigh
V
alley.................
6o
1
2
1
*
4
Jl
ai
l
o'
6
/
Feb 113 se p
0 o 34 6 6
60S, 136
6 6 *4 65 7b
05**4 60
65 7&
1,928 P enn sylv an ia B U .......... 6 0 (ilt*i« J ’ly 2u (iU3le 3 Lar 0 03 *8 Feb
7 5 *» Sep
' 41 -3 44®b *-14j4 46*4 4434 44**4 46
46
46 46
45*4
30u
Pluladelp’aC
o(P
itU
io).
5o
42
J
’ne3o
53
‘ 4 J an
8 ; 4 0 Si Feu
Deo
166# 16 Si 16*3 115*3
15Si
15*3
tb**
15-*b 16-3 16 ■'*8 lO ^ 1,023 Philadelphia E lectricll. 25 113*8 Feo i 10*4 M a r l s 11 ‘4 Feb 61*8
14 *s Deo
16*4 I 6 !*b lk> 78 G %iG 1 0 l4 loas 15*3
15
16
16*3
1 0 34
16*8
8,91i>
Phila
liap
ld
T
r
a
n
s
it.
..
60
15
A
pr
26
26
*3 Ja n
3
24
*6 Jan
30
Si
A pr
. 76*4 70'*b 75*3 ( 0 'tj 7b*5io
a
70*.!
70s,
77*8 78 0,63(1 B e a d in g ....................
50
Feu Is 1 50 Si Feb 80 ’4 Sep
8
b3io 8 ‘4 -a *4
8 *4
• 8 * 4 h *<8 b'-’o 77*8
8 ^
8 ^
H7ig 1,596 Tonopali M ining .......... 1 05o >3*-. JJ a'lyn 22;0 60
9*18 May 13 6 34 Ja n 7*3ie M ar
30°e 31)^ 1 0 40bHi 40
39 6a 30
41
40*4
38
>3 40
40
°8
..............
60
7,131
Union
T
ra
c
tio
n
Oct 24 52-*4 m u 3 50*8 Jan 6 8 * 8 May
b ‘2 ;,4 83
62 7s 8 2 7e 6 2 ^ 8 83
a 2 7g 83
8 2 7S 83 "
82 7„ 83 1 , 1 0 1 U nited G as lin p t............ 50 33
79 J ’iy 20 95*a J a n IOJ 84 °b Mu) 95 Si Deo
__________i c f ______________
P H I L A D E L l’ll A
B id A sk | P li 1 lu \ D E L I’l l 1A | B id A s
P H IL A D E L P H IA | B id | A sk
B id [ A sk
liA L T l.W O B E
illu c liv u s to c h »
Bonds
P h A B ead 2d 5s ’33.A-G
Chari C A A 2d 7s ’10 A-O
A m ai A sbestos Corp.100
JYices are a ll ‘-and
Con M 7s 1011........J-D
City A Sub 1st 5 s .. ’22 J-D 105 107
P re fe rre d ................... 100
interest
E x Im p M 4s g ’4 7 .A-O
City A S u b (W a s)lsl6 s’48 lo l lo 1 *3
A m eiican M illing........lo
A lt A L V E Jec 4 Sia’33.F-A
T erm in al 5s g 1041.y -F 115*4
Coal A 1 By 1st 6 s ’20F-A
A m cr Pipe Mfg..........100
A m G as A Elec 6 s’07. F-A
P
W
A
B
col
tr
4s
’21.J-J
00*3
C
olA G rnv 1st 68.1016 J-J 105 o f *
Boll T elephone (P a). 100
A u iB y sco u v b s 1 0 1 1 . J-D
P o rtlan d B y 1st 3s 1930.
Consol G as 5 s ..1030 J-D 1 u7-3 i108
A tl City 1st 6a g ’lO.Al-N
C am bria Iro n ..................60 41
lioch
ByA
L
eon
5
s
’51J-J
C tls iudobt 4 * 3 8 ........J'-J 03 03*3
B ergA K B rw lBtO s’21 J-J
C entral Coal <fc Coke.100
Spanisli-A in I r Os ’27 J-J
G E A P 4 *38 ’35. J -J 83*4 83*4
B ethle S teel Os 1008.Q-F 114
Consol T rao of N J ...1 0 0 'V s'
U T rac ln d g e n 6 s’19.J-J .......... 101*3 Cons
F
air
A Cl T r ±st 5s ’38. A-O 9 0*4 0 7
Choc A Me 1st 6s 1040 J -J
E aston Con E lectric u.Ou
U
n
B
ys
T
r
o
tls
4s’49JA
J
u
a
a
A
ia i s t con 5s ’45J -J lu4 105
75*
Ch.Uk A G gou 5s TO J-J ’102*3
F t W ayne <&\V V........loo
U nited B ys Xuv 1st coll tr
aO arA N l s t 0 s g ’20J-J 104 iuo*a
Col S t By 1st con 6s 1032
G erm antow n P a ss........50
s f 5 s 1020..................M-N 80*3 81 GU eorgia
P 1st O s...”22 J -J 112 115
103
C
o
u
T
ra
c
o
lN
J
1st
5
s
.*33
Indianapolis S t............100
U T rac P it gou 5s ’07 J -J
GaSo a F la 1st Os 1945J -J 106 1 0 6 * 3
E A A 1st M 5s 1020 M-N 100*3
lu d ia u a Union T r ___100
W elsbacb a £ 5a 1030.J -D
Brew 3 - 4 3 1051M-S 43 45
Eloc A Poo T r atk tr ctfs
85* W lks-B G A E con5s’55J -J .......... 89 G-B-S
In su ra n c e Go ol N A .. 10
2d incom e 6 s 1061 M-N
5
E q 11 G as-lj 1st g 5s 1028
In te r Sin Pow Jb Clieiu.50
BALTl JlO itit
K nox v T rue 1st 5s ’28A-G 1 0 2 1047
Iudiauapolis By 4 s .1033
K eystone Telephono ..5 0
ln u c iiv v h lo c n s
L ak elt E l 1st g u 6 s’42M-S 1 0 8 S, 1 0 'J3!
in te r s ta te 4s 1043 ..F -A 40*3
P re ie rre d ..................... 50
A la Guns GoalA lio n .100
M acon ByA L tis t 5 s ’5 oJ-J 06*4 06
L ehigh N av 4*as T 4.Q -J
KeyHionuWiiteliGa.se. 1 0 0
l ’r o t............................... 1 0 0
M em phis Kt 1st Os’lO J -J 07 08*4
Leh V ail T ran v tc ...5 0
B its 4s g ........1014.(4-1*’
4
A tla n ta A C h a rlo tte ..lo o .......... .......... M
etS t(W ash )lat5 s’25F A 107 LOJ
PreferrtH i v t c ........... oo 16*3
G en M 4 *38 g.1024 ,<4-F
A
th
in
Coast
L
(C
onu)loo
M t V er Cot D uck 1st 5s. 74*4 71*3
238
L it B rou iers....................lo
Leh V C 1st 6 3 g ’33. .J -J 1 0 0 * 8
C
anton
Go......................loo
119
N
ptN
A O P 1st 6s’36 M-N
130
L ittle S cliuylklll............50
Loll V ext 4s 1st 1048. J-1) 103*3 104‘s Cons G otD uck C o rp ...6 0
0
6 N or A P o rT r ist5 b ’30J-D 8 2 *» 8 2 34
M iuebUl 45 S ehuyl 11..50
2d 7s 1010.................M-S
P
re
fe
rre
d
......................
50
N
o
n
o
ik s t 1st 6 s ’4 4 ..J-J lu4
10
20
N H av en Iron 3c S te e l.5
C onso les 1023...1.J-1)
1
G eorgia Sou & F la ...1 00
N orth G ent 4 *38 1025 A-O 1U5
N oi lliei n C en tral......... 50
125*3 A n n u ity Os.............. J-l)
1st prof........................lo o 92 06
Series
A 5s 19 20 ....J -J tlu ..........
N orth P en n sy lv an ia . . 6 0
G 011 cons 4s 20 03 .M-N
2d p re l......................... 1 0 0
S en es B 5s 1026___J-J
PennsyL B B ie c e ip ts.
L eh V T ran con 4 s ’35J-D
G-B-S B rew in g ............100
2 P itt Un T rac 5s 1007.J-J 1 0 2 104
1
p en nsy ivun ia s a lt........50
1st
scries
B
5s
1030.H-S
101
Bunds
Poto Val 1st 6 s 1041..J-J 10.1
Penn sylv an ia .-tool..100
N ew Goa Gas 6s 1046 J -D
Brices are a ll “ an d
Sav F ia A W esto s ’34 A-O 105
P re le rre d ....................100
1 0 6 m4
N ew ark P ass con 6s 1930
interest."
Seilb A B eau 5s 1026.J-J luo 106
P h ila Go (P itts) p r e t...50
42 N Y i*li A N o 1st 4 s ’30 J -J
A
nacosU
a
A
P
ot
5
s............
100*3 100*4 Kouth B ound 1st 5 s .. A-O 106 , 0 6
Phil Gonnan<fc N o rris.50
160
Incom e 4s 1 0 3 0 ...M-N
A tl Coast L(O t)ctf8 6s J-D 103
105 U E l L A P 1st 4 *3S’20 M-N Pi* 92*3
Phila T ractio n ................50 81
N oO hloTrao oon6sT0. J-J
Ctfs of lnuobt 4 s ....J -J
Uu B yA E i 1 s t4 s ’40 M-S 84*3 816a
JRadway., G eneral........lo 10
P
enn
Cons
6s
1010
..
Vur
6-20
y
r
4s
1020..........J-J
107
90*3
108*3
Incom e 4s 1049........J-D 6234 G3
Susquoii Iron A S te e l..5
P
en
n
A
M
d
S
teel
con
Os.
B
altC
P
tt
6 s 1 s t5 s ’l l M-N
loo
u n d in g 6 s 1036...J-D 84*3 85
100*8
T idew alev S teel............10
P a A N Gan 6s ’39. A-O
B alt F u ndg 5 s .1010 M-N 104 105 J V FaM
id 2d ser 6 a ’ll.M -S 100*4 100*3
P r c ttr v e d ......................10
Con 4s 1030............. A-O
E xchang e 3 *28 10W0 J-J 03*3 94
100
3d
s 6 s 1016..M-S 162
U nion T r ot ln d ..........100
e n a Steel 1st 5s T 7 M-N
B alt A P lsC O sm i’l l A-O lo o s.
1 4th sesern e3-4-6s
1021. M -s 1 0 2
241 PPeople’s
U n ited N J BB A G ..100
T r tr c erts 4s ’43
B
S
P
A
G
1
s
t
4
Sjs
’53F-A
1*8*3 B alt T rao 1st 5 s .. ’29 M-N 92 03
5th series 6 s 1926.M-K 103
42 S. P Co lsLA col tr Os’40 M-S 102 102
U n it T rac P u ts p re l..5 0
*3
106*«
Va
(Stale)
3s
new
’32 .J-J 84 86
106*3
W arw ick Iron A S te e l.10 10 1 0 » 4 OouA cot tr 6s 1061 M-N 94*4 95
No B alt D ir 5s 1942 J-D
n o || F u udd eb t2-3a 10O1.7M ho
W elsbacU Co..................100 40 43 P lul Elec geld tru s t cUa.
C eat’l By 0uu5sl932 M-N 100
101
106
W
est
N
C
con
6 s 1914 J-J
104S, 10534
..........I
64
W est j ersoy A S eaS h.50 53
T ru st c ertils 4 s............... 76*4
E x tA Im p 6 s .1932 11 S
WesV'a GA P 1st Os’l l J-J 1 0 0 * 4 100*3
W estm oreland Goal....5 0
P A E gou M 6 g ’20. A-O 1(J8 70 Chas C ity By l s t 6 s ’23 JO 102 i o n WU
n o 112
A
W
eld
5S
..1035.J-J
W ilkes G as A E le c ..100
G en M 4s g 10 20 ..AA O 100*4
Chas By G A E l 5s ’00 M-s! 94 9 5 11
Sa tu rd a y
Oct 29

j ‘ Bid and asked; no sales on this day.




11Ex-riKhte.

F riday
A ov 4

U^lSpald. f $ l 2*4pald.

1^13>3paid. «835 paid.

a Boceipts.

5S25paid, c $.50paid.

tl$ 42*3Pata.

1238

THE CHRONICLE

Volume of Business at Stock Exchanges

[Y o l. l x x x x t

But 4 sk
B id
Indu strial and Aliscel
Hiecfric C om panies
sk
Crucible S teel______ 100 13 13*8.
Chic Edison Co— See Oh. cago Us'
Gr'c W est Pow 5s '4 0 .J-J 8'Ji4 014 e Preferred ________ 1 0 0 783| 79
* Kings Co E L4sP Co 100 123 126 D avid-D aly C opper C o . 10 * lh 2
TRANSACTION.* A1 THE .xN»V
j u X I h EXCHANGE
N arragan (Prov) El C o.5o 85i2 87'2 e D iam ond M atch C o. 100 951 96
DAILY, VVE K K L Y A ID YEARLY
N Y 4cg El L 4: Pow Co 100 4 J 50 d u P o n ttE D d e N e in P j lOo 145 150
Preferred . . . _______10o 73 78
e Preferred ________ 10^ 83
e Gold 4 Hs 1930___J-D 84 85
U nited Elec of N J ___100 80 85
Railroad,
85
Week ending
1st g 4s 1949_______J-D 70 Ti E lectric B o at_________ 10.)
U. S.
&c..
State
18
Nos. 4 1910.
Bonds. W estern Power com . 100 4312 14'2 P re fe rre d __________ 10 .1
Shares, i Par value.
Bonds.
Bonds.
P re fe rre d ----------------loo 08*2 00'2 Em pire S te e l_________ 1 0 0 1 0 70
15
Saturday
P r e le r re d __________ 10.1 58 65
180,165 S17.566.150
5645,000, 332.000
Monday . . .
eGeneral C hem ical___lOo 91 100
teleg rap h and Telephone
402,695 41,901,000 1,520,OOOl 127,500
Tuesday___
70.000 $2,000 A tner Teleg & C a b le .100 78
e Preferred ________ 1 0 0 101
275,914 24,746,400 1,910,500:
Wednesday
Central 4: So A m er._10o 118
Goldtlcld Con Mines See S tk Ex 1031*
190.000
307,994 28,731,275 1,565,500
T hursd ay ...
lold Hill C opper ___ I * h list
34.000 " l ’.OOO Oomm’l Un Tel (N Y ). 2o 105
517,042 47,323,825 2,086,000
11 m
*703
F riday____
Im p & Bay S tate Tel. 10 0 65
98.000
iree n e -C a n a n c a _____ 2 0
545,188 49,431,3 j 0 1,8.J0,000
r a n k lln _____________ loo 40
G uggenheim E xplor’n 1 0 0 190 198778
T o ta l......................... 2,,14,398 $209,8 a ), j 50I $J,64 .,000 $551 500l $3,000 Gold 4; Stock T ele". 100 100
e H ackensack W ater Co
Ref g 4s '52 op '1 2 ..J -J 85 83
- N orthw estern T eleg. 5o 105
60
Paolflc 4: A tla n t.c ____25
Gall Signal Co com ._l<)o: 20 35
Jan. 1 to Noo. 4.
Week ending Nov. 4.
Sales at
la
v a n a Tobacco C o .-lO u
ePac
Teiep
&
Teleg
pf.100
4
93
New York Stock
P re fe rre d __________ loo 8 126
Southern & A tla n tic .. 25 90
1910.
Exchange.
1909.
1910. j 1909.
1st g 5s Ju n e 1 '22 J-U 55 59
locker-Jones-Jew cll MU.
Ferry C om panies
Stocks—No. shares__
146.280,493
2,314,938 3,714,5 38
181,670,947
1st 6s 1922................VI S 103
6s 1911.J-J 93
Par value_________ $203,899,950 $350,747,825 $13,052,064,500 $10,604,877,150 M3 &I 4N EY H1stFerry
s tk . 100 20
.ler'g -rta h -M a r neiv.lO J 35 105
40
$500
Bank shares, par____
$62,400
$977,900
$158,150 1st 5s 1922________M-N
Gonoken
l.anrl -t ltnp 100
55
Bonds.
1st 5s N o / 1930_______ 103 102 *
.NY&Hob 5s May '4 6 .J-D 06
$56,500
$3,000
$351,200
Government bonds__
$018,200
H ouston a i __________ 100 7*. Sl2
Fy 1st 5s 1946 M-N 103
551,500 1,100,000
38,031,450
State bonds.................
32,746,400 M llob
Y 4s N J 5s 1946____J-J 95
Preferred . _________ 1 0 0 42
539,997,700 1,101,021,600 10th
lilt, and mine, bonds. 9,613,000 18,403,500
H udson R ealty ______ 100 1 1 0 47
& 23d Sts F e rr y .100 30
1st m tge 5i 19 1 9 ..J-D 65
e Ingersoil-H and coin , too 93
Total bonds_______ $10,lj7,500| $19,586,0001 $548,382,35ol $1,134,386,200 e Union
Ferry s to c k .. 100 2 6
e Preferred ________ 10o 100 105
e 1st 5s 192J______ ax
95
in te rc o n u n 't'l R u b b er.100 2734 2 8 U
DAILY THANSACTIONS AT T IIE BOSTON AND PHILADELPHIA
U iternat'l B ank'g Co. 100 95 1 >5 *
EXCHANGES.
In te ru at" Mer M ar— See tk Ex
S h o rt-le rm N otes
Am Clg scr A 4s 1 1 __A\ S 99*4 100 internation al N ickel-.1 0 0 lv3 list
Philadelphia.
Ser B 4s Mch 15 12 Al-S 98 981j P re te rro d ___________100 90 143
13
B alt& U hlo J 4 s l 9 i r . j - u 987$ J9'S 1st g 5s 1932_____ A-U
92 94
Listed Unlisted 1 Bond
Nov. 4 1910.
Listed 1 Unlisted Bond
Bethlch
steel
6s
'1
4
..M
-N
16
97
in
tern
atio
n
al
S
a
lt____
100
shares. shares. | sales.
shares. \ shares.
sales. Chic & A lton 5s '13 Al-is 96*4 99L 1st g 6s 1951_______A-O / 47 528
Cln H am * D 4s 1913.J J 97 >4 9 /l2 in ternation al SI ver-.lO U 50 80
7,468
$6,000
Saturday___________ 11,205
4,036
$0,800 C C C 4a St L 5s. Ju n e 'l l 100
3,600
IOOI4
P re le rre d __________ too 107 113
29.000
Monday____________ 15,559 10,353
9,938
10,565
38.900
1st 6s 1948________.J-D
H udson C om panies—
T uesday___________ 20,379 12,304
24.000
4,330
7,252
36,600 6s O ct 15 1 9 1 1 ____ A -0 9712 99 in te rn a t Sm elt & Refg 100 n1 3o0 112
60.000 11,450
Wednesday_________ 28,756 26,146
4,892
67,500
6s
Feb
1
1913____F-A
99
97l2
in
te
rn a l Time R ecord. lOo 190 140
39,158
20,293
Thursday __________ 33,232
97,500 21,693 10,753
43.900 lu te rb K T g 6s 1911 .Al-N
P re fe rre d ___________loo 112 225
1J1
123
9,983
91,000 37,614 12,934
53,000 K 0 R y& L ight 6s 12.M -8 L.0'2
98*4 99 Jones & L aughlln Steel Co
.vltnn
4:
S
t
L
g
5s
'll.F
A
99
1st
s
f
g
5s
19
3
9
..Al-N
99'2
101
Total ___________ 154,34. 86,613 $31(,500l 83,0671 50,116 $246,700 N Y C Lines Eq 5 s'10-22 61.05 4.3J jL ackaw anna Steel___100 33 10112
45
4 4 s Ja n 1911-1925____ 6t.bo 4.3J e 1st con 5s 19eO___AV-..
N Y N H & tl 6s '1 0-12 100 101
; D eb es 101 5 _______,U-S *9*1*2 92 *
St L 4e S F 4 4 s ' 12 op.F -A 97‘2 98 L anston M onotype___loo 80*2 87
Law yers Mtge Co____100 242 246
6s Mch 1 1913____ Al-S OO'i
All bond prices are now "an d in te rest’ except w here m arked “f.
South Hy g 5.< 1 9 13 ..F -A 08*8 u9 7>2
34 u.eh 3c W llkes-B C oal. 6 0 200
T idew ater 6s. 1913 guar 101 101 e Lorttlard (P) p r e f.- lio u *35 250
145
W abash 4 4 s 191____ AY-N
97 vladison Sq G a rd e n .. 10 0 35 45
Street R ai'w ays
Street R ailw ays
Bid Ask W
2d 6s 1019________ M-N 85
est T elco &T.>s '1 2 .1 - A *99'2 100
New York Ci~u
Pub Serv Corp N J iCom
estlnglre EI&M Os 1 9 1 u 10J‘8 100' 2 M anhattan T ransit___ 2 0
♦ 1*8
Bleeck S t & FUi F Stic. 100 15
Cons Tract ot N J ..1 0 0 73 75 W 5%
M ay D ept S to re s_____ 100 49 *"l*8
notes O ct 19 1 7 .A-O
52
1st 5s 1933............1- L) 103 ' 104*2
1st m tge 4s 1 9 5 0 ..J -J 52
P
re
fe
rre
d
__________
100
101
10-'l2
B ’y & 7th Ave s t k __ 100 120
N ew ’k P asR y 5s '30 J-J 10dl2 *07*2
M onouganeia it Coal. . .>0
9*4
2d m tge 5s 1 9 1 4 ___J-J 98
R apid Tran S t R y ..l0 0 235 245 a Chic G t Railroad
P
re
le
rre
d
______
.
.
.
50
VVcom
tr
ctfslSec
Stoc
22
Con 5s 1943— See Stocn Exc
1st 5s 1921...........A-U 103
ePreferred tr c tf s ../
M ortgage Bond Co___100 114 117
list
B ’way S u n 1st 6s gu 1924 102
J C Hob & P aterso n —
Chic
Peo
4s
St
L—
N
at
Bank
of
C
uba____100
103
C ent'l C ro jst’n s t k .- . l o o
4s g 1949...........M-N 74*4 76
Prior hen g4 4 s '3 0 . A\-S / 90 94 N at't S u re ty __________ 1 0 0 260 107
1st m tge 6s 1922 ._M -:\ / * 80 "
So J Gas El & T rac.1 00 127 129
Con m tg g 5s 1 9 3 0 ..J-J / . . . . 50 e N evada Cons’d C opper 5 *2l*s 273
-TU
Cen Pk N & E It stk ..100 12
Gu g 5s 1053___AT S 95 97
Incom e os. Ju ly 1 9 3 0 .. / ----- 5 N ev-U tah Min & S m . 1 0 ♦ It lal8
C h r't’r & lo th S t s tk ..lo o 70
No Hud Co Hy 6s 14 J-J 102
Chicago S ubw ay_____ 100
6 e New Central Coal___20
30 60
4*2
Col & 9th Ave 5s See Stock Exc
5s 1928.................. J-J 102
Kan 4:Col P ac 6s 1938.F-A 109 U P NY Air B rake 6s— See Stk Exc
D ry D E B & B—
E xt 5s 1924____A\-N 98
N at Hys of M exico— See S t Exc list N Y Biscuit 6s 1011.Al-S 100 list
1st gold 5s 1932___ J-lJ 95
P a t Ry con 6s ’31 ..J -D 115
ortb’n Securities S tu b s. 100 U 2'2 e New York Dock____100 2 5 *3*5*"
2d 6s op t 1 9 1 4 ..A-U 99 lo l NP itts
Scrip 5s 1914______F-A / 30
Bess 4s L E _______50 d ll
e Preferred ________ too 73 78
E ighth A venue s to c k .loo 250
So Side El (Chic) — See Oh icago list
P re fe rre d ____________50 *70 33
74 N Y Mtge & S e c u rity .lo o 200 210
Scrip 6a 1014____F-A / 95
Syracuse R T 5s ’46..AY-S lo t 102*2 t Railroad
Securities Co—
N
Y T ra n sp o rta tio n .. 2 U *5I2
Trent P A 11 5s 1943.J-D <3/
42d & Ur S t F’y stk ..1 0 0 200
III C stk tr ctfs ser A 52 90
N iles-B eni-Pond com . 1 0 0 97 1020l2
U uited Hys of S t L—
42d S t M & S t N A ve. 100
C om pany—
Nlplsslug M ines______ o *11 1114
Com vot tr ctfs____100
978 10 Seaboard
1st m tge 6s 19 10 .Al-b
1st preferred______ 100 72
Ohio C opper C o________to
2
e P referred ______ 1 0 0 41 4134 Com
2d Incom e 6s 19 15 .J-J / 40
& 2d prei— See Bal t Exc
e O ntario S lvcr_______100 *178
Gen 4s 1934— See Stock tixe list
Inter-M et— See S tk Excb ange
Air U n e —
Otis E levator com ____100 432*4 522*4
(JiiitR ys San F ran See Stk Exc list Seaboard
Lex Av & P a v F 6s See Stk EXC
P re fe rre d __________ lOo 94 97
Coll 5s ext M ay 'll.A l-S 99?8
W ash Ry & El Co___100
M ctropol S t Ity— See Stu Exc
35
P ittsb urgh B rew in g .. 5u *2 3 1 4 23*3
P re fe rre d _____
1 on
N inth A venue s to c k ..100 155
88 8'3*2 W est P ac 1st 5s '3 3 ..M -S 93*4
P re fe rre d ___________ 5u
11*4
4s 1951____________ j - u 8312
Second A venue sto c k .lo o 10
81
P ittsb urgh Coai— See Stk Exe list
Industrial and Aliscel
1st M 5s’0 9 e x t 'l e _M-i\ 90
911
Adams
Exp
g
4s
1947
J-D
Pope
Mtg Co com ____ 100 60 62
/
90'2
Consol 5s 1948____ F-A / 55
G as Securities
*195
A
bm
eek
M
ining________
P
r
e
f
e
r
r
e
d
...._____I
25
100
200
73
e S ixth A venue s to c k ..100 U5
Alliance R ealty _______ 100 115 120 P ra tt & W hitney p re f.100 100 * 105
New York
Sou Boulev 5s 1945___J-J 60
erican Book_______ 1 0 0 152
Producers OH_________ 1 0 0 147 152
Cent Un Gas 5s 1927 J-J 101 102 AA m
So Fer 1st 5s 1 9 1 9 ... A U 88
.cl
.0
m
erican
B
rass_______100
123"
R
ealty
Assoc
(B
k
ly
n
).
100
122
Con Gas (N Y) — See Stk Exc lls
T hird A venue— See Stock Exc
Chicle com .lO o 224 228 Royal Bak Powd com .100 118
200
e M utual G as_________ 1 0 0 105 175 A mP erican
T arry VV P & M 5s 1928 / 50
re fe rre d __________ 100 10U2 101
P re fe rre d ............. 1 0 0 193
104
107
New A m sterdam G as—
Y kersS tR R 5s 1946 A u 80
5
Am
U
raphophone
com
100
Safety Car H eat & Lt.lOU
1st consol 5s 1 9 4 8 ..J-J 100
28th & 29th Sts 5s ’96 A -0 ,n. 0
P re fe rre d __________ 100 2 1 30 Seneca M ining_________ 25 ♦13360 134
75
N Y & ER G as 1st 5s '44 J-J 102 101*2
T w en ty -th ird S t s t k . .100 190
104
"
120
117
Amer
H
a
rd
w
a
re
_____
100
______
I
100
Singer
Mfg
C
o
Consol 5s 1945_____ J-J 97 1U0 Am M alting 6s l u l l . . J - D 100 1U2 South Iron <5c S com .100 3507 355
Union Hy 1st 5s 1942. F-A 100L
10
N Y & Richm ond G as. 100 40 50 Amer Press Assoc’n._100 95 105
YVestchest 1st 5s ’43 J-J 65
P re fe rre d ________1 . 100
N Y & W cstchesterL h t'g —
Found new — See S tk Ex list S tand ard C ordage. loo 15>8 18»4
Brooklyn
Deb g 5s 1954 g u a r.J-J 100 101*2 Am6s St1935.........
A-O 10J'2 102
1st M g 5s '31 red.*A-0
Nor Un 1st 5s 19 2 7 ..M -N 99 101
A tlan A venue HU—
Deb 4s 1923..............F -A Oj 71
A djust M 5s A pr 1 1931 / 15 17
Con 5s g 1931...........A-O 101
e S tand ard Gas c o m ..100 55
A m erican S u re ty _____ 60 208 212 S tand ard Coupler com loo / J 404
B B & VV E 5s 1 9 33 ..A -0 0/
e P referred _______ loo 75
100
T hread pref 5 *4' 5*4 P re fe rre d _____
B rooklyn City S to c k ..10 163
1st 5s 1930................Al-N 102 106 AAmm erican
Tobacco Co c o m ..100 431 436 S tand ard Milling Co-.lOO 1*0*0*’
10 "l*8 *
Con 5s— See S tk Excb ange
Amer T ypefders com .100 39 43
P r e 'e rr e d __________ 1 0 0 52
Bkln tigt* 1st 5s '941 A-O 98
Other Cities
100
1st
5s
1930
_M
N
97
P
re
fe
rre
d
__________
lOo
83
87**
Bkln gu een s Co & S ub—
Am Gas & Elec c o m .. 50 *44
6s 1939____AV-N 97 100 S tand ard Oil of N J ..1 0 0 619 021
e 1st g 5s '41 op '1 6 .J-J 99
P re fe rre d __________ 50 * I0'2 4 lto Den Wg riting
P a p e r .. 100 2 3 Sw ltt <Sc Co— See Host Stk Exc list
e lstc o n 5s '41 o p ’16 M- N 97
Amer Light & T ra c t..100 283 285 Amor
P re fe rre d __________ 100 23*2 25*2 1st 5s—S-e Chic Stock Exe list
B klyn Hap T ra n — see Stk Exc
P re fe rre d __________ 1 0 0
1st s i g 5s '19 op ’09 J-J 87*4 88*4 Texas C om pany— See S tk Exch list
Coney 1st 4s B k ly n ..100 60
Bay S ta te G as_______ 50 101s8 103 A'.lGf
e T exas & Paclllc Coal 100 iou
&VVIndSSL nes.100 10
1st cons g 4s 19 48 ..J - J 78
Blugh ton <N Yi Gas VVks
P
re fe rre d __________ 100 19 2* 0” Title Ins Co of N Y___100 135 105
Con g 43 1955______ l-J 75
1st g 5s 1938.............A-0 93 100
08
Min (N evada) I *8*s 140
60
Col
tr
g
5s
1959_____I
J
Brk C & N 5s 1939.J-J 95
Brooklyn Un Gas— See Stk Exe list B arney & Sm ith C a r ..100 35 30 Tooopah
Trenton P otteries com 100 4 8
K ings O Ei 4s— See Stock Exc
Buffalo City Gas s tk . 100 3*2 5
Preferred, new _____ 100 45
P re fe rre d __________ 100 102 105
N assau Elec pref--------100
1st 5s 1947— See Stock Exc list B eth"m
C orp— See S tk Ex list Trow D irectory_______100 30 55
5s 1944........................A-O 103
Cities Service C o ____ lo .
58 63 Bliss ComSteel
Underw
ood T y p e w ___100
130
pany
c
o
m
..
50
124
62**
1st 4s 1951— See Stock Exc
P referred ___________luo 78
P re fe rre d ____________50 118 122
P re fe rre d __________ 1 0 0 00
99
Con Gas ot N J 5s '3 6 .J-J 93 83
N VV’bg 4: F lat 1st ex 4 4 s 87
96 Bond
248
4:
Mtge
G
uar___100
255
Union
Typew
riter com 1 0 0 48 100
62
Consum ers' L H & Pow —
S teinw ay 1st 6s ) 9 2 2 ..J -J 103
1st p re fe rre d ______ 1 0 0
B orden's Cond M ilk .. 100 124 125
108
5s 1938..........................J-l) 105
P re fe rre d __________ loo 10512 107
2d p re fe rre d ______ iou 104
103 107
Other CUies
D enver Gas & Elec___100 190
B
ritish
Col
C
o
p
p
e
r...
5
Un'.ted
Bk
N
ote
C
orp.
50
7
*
6 '4
Buffalo S tree t H y—
Gen g 5s 1949 op.Al-N 90
P re fe rre d ________ 5 0 *40 52
oalition Mining 15 *s012 21
52*2
E lizabeth Gas L t C o .. 100 300 93 B utte CCo
1st consol 5s 19 31 ..F -A 103
of Am com .100 3 8*4 U nited Cigar M frs_.IIlO O *50
01 62
Deb 6s 1917.............. A-O 104 103*4
loa': Essex & H udson G as. 100 133 138 Casein
65
P
re
fe
rre
d
__________
100
60
e Preferred ________ 1 0 0 102_
104
Colum bus (0> S t H y-.lO O 95 100 Gas & El Bergen C o .. 100 78 80 C asualty Co of A m e r.. 100 125 140 U nited
C opper_____ IZ 100
P re fe rre d __________ 100 101 04 e l l r R ap 1st 5s '1 5 .F-A 98 101 Celluto'd Co__________ 100 128
P re fe rre d ___
m o 105r>g 200*2
Colum Hy con 5s— See Phi ia list
H udson Co G as______ 100 133
Cent Firew orks c o m .. 100
U
S
C
asu
alty____IIIIlO
O 215
C rosst’wn 1st 5s ’33 J-D 100 102 ' Indiana L ighting C o ..100 33 139
35
P re fe rre d __________100
U S E nvelope com ___100 50 . . . .
9 Conn H y 4: Ltg corn. 100 76 76
4s 1058 o p _________F-A
66 Central F o u n d ry _____ 100
P re fe rre d ______ . . . 1 0 0 111 114*
e Preferred ________ loo 78 80 Indianapolis G as____ 50 64
11
20
P re fe rre d __________ 100
U S F in ish in g ________ too 94 100
1st & ref 4 4 s — See Stk Exc I'St
1st g 5s 1952_____ A -0 80 85
Deb 6s 1919 op ’01 .M -N / 35 40
P re fe rre d __________ 1 0 0
110
O rand H aplds Hy pref .100 83 80 Jackson
Gas 5s g '3 7 .A-O 88 92l2 C hesebrough
Mfg C o ..10 0 700
1st g 5s 1 9 1 0 ______ J-J 104
loo 106
t LoulSV S t 5s 1930___J-J 10-1*4 1061.1 e Laclede G a s ..______ 100 / 105
105*j
68"
03
City
Investing
Co____
100
Con
~
5s
192
9_______J-J
96
100
L ynn & Bos 1st 5s '24 J-D 104 105
e P referred _______ 100 80 102 “ P re fe rre d __________ 100 10J 108 U S Steel C orporation—
e N ew Or) Hys & L gt.100 24 24'j Madison
Gas 6s 1926. A-O 103 108 e Clatliu (H B) c o m .. 100 102 105
Col
tr
s
f
5s
'51
o
p
t
'11
115
HU*
e P referred ________ 100 63 6 l2 N ewark Gas
6s
1944_O-J
128
e 1st preferred_____ 100 01 90
Col tr s f 5s '51 not opt 111'* 115 |
■ Gen M g 4 43 '35— See S tk Ex 1st N ewark Consol G a s .. 100 96 130
98
e 2d p re fe rre d _____ 100 93
U S T it Gu & In d e m .-io o 86 105 !
F u b Serv Corp of N J.1 0 0 108 112
e Con g 5s 1948___J-D 103*2 104*2
Col
4:
Hock
Coal4cI
pf
100
eU tail Copper Co— See Stk Exo list
T r ctfs 2% to 6% p erpet 99 101 No H udson L H & Pow —
1st g 5s 1917..............J-J / 45
W estchester <S> Bronx Tit
N orth Jersey S t Ry.lO O 60
5s 1938........................A -0
Col tr 6s O ct 1950..J -J / 45
* Mtge G uar_____ .10 0 100 170
1st 4s 1948...........M-N 76 76 Paclllc Gas & E. com .100 110
69 71 Consol
Car
H
eatin
g___100
vV’estlngn'se Air B ra k e .50 ¥mm mm 142
P re fe rre d __________100 X83 90 Consol R ubber T lre ..l0 o 40*2
Wost
FT & Mtg 5s— SooStk 15X0 list
3
P at & Pas Gas & Eleo.100 83 88
Preferred . . . _____ .10 0 22
W orthing P um p p re f. 100 105 107
Con g (}*<!
5s 1949___M-S
D
ebenture
4s
1951
A-O
/
40*2
St »Jo'mnb
,v 193 7 I-| 100
90 93i2
[ * P er sh are. 6 Basis, e Sell3 on S to ck E xchange, b u t n o t very activ e .
F la t price, n N om inal, s Sale price, x Kx-dlv» v.E x-rizhts

Outside Securities




Nov. 5 1910. j

THE CHRONICLE

1239

[miestruent and Railroad Intelligence*
rtA lLK O A D

GKOSS

EARNiiNGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
oan 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 beg'n with July, but covers some other
The returns of the electric railw ays are brought together separately on a subsequent page.
period

HOADS

Ju ly 1 to Latest Date.
Latest Gross E arnings.
Previous
Week or Current Previous Current
Year.
Year.
M onth.
Year.
Year.

Ala N O & T ex Pac
963,621 930,966
N O & N or E a s t. 2d w k O ct 53.000 68,000 489.233
455,237
A la & V icksburg. 2d wk Oct 27.000 30.000
429,413 396,012
Vicks Shrev <sc i'_ 2d wk Oct 23.000 25.000
17,414
2 3 , 8 /0
O.laS
3,3113
Ala T enn & N o rth . S eptem ber
20,159,339 25,434,887
ber 9,008,441 8.732,770
A tch T opeka & S Fc Septem
53,015 828,005 755,570
3d w k Oct 59,086 2,173,130
A tlan ta BIrm & Atl Septem
6,404,588 5,830,732
ber 2,240,774
A tlantic Coast I>Inc
ber 8,417,835 7,933,581 24,515,627 22,077,892
g B altim ore & Ohio SSeptem
eptem ber 136,345 95,403 407,932 285,909
B & O Ch T er 1th Septem
ber 283,016 249,332 726,400 694.467
B angor fc Aroostook
22,278
5,801
14,375
8,304
BcIIefontc C entral- ­ Septem ber
12,130,57 11,658,849
Boston fc M aine__ September 1.176.J81 3,983,0*4
11,272
5,068
...
10,963
0,048
B ridgeton & Saco R A4 thugust
3,427,412
260.495
w
k
Oct
303,592
3,257,449
B ull Roch & P lttsb . lu g u st .
391,432 426,7 93
201, .-< 224
B uilalo & Susn
wk Oct 556,200 457,300 5,225,800 4.111.000
C anadian N o rth e rn . 44 th
wk Oct 3,271,000 3.224.000 37,589,700 32,574,193
C anadian P a c ific .. th wk
be. 281,UOU 205.0 uC 3,902,151 3,643,285
C entral of G eorgia. 3u
ber 2,416,792 2,228,715 7,227,399 6,722,650
C entral of New Jcr Septem
eptem ber 370,619 349,338 1,000,435 1,018,112
C entral V erm o nt___ St tn
20,307
t
2 3 ,9 8 5
2,080
2,445
C h attan oog a South 3d wwkksep
Oct 639,272
641.500 10,467,921 9,631,057
Ches fc Ohio L ines.
w k Oct 313,083 354,351 4,888,007 4,538,304
Chicago & A lton__ 3d
22,533,348
Chic Burl fc Q uincy S eptem ber 8,395,209 7,800,73 23,849,078
4,102,246 3,711,933
p d ilc G reat W e s t.. 3d wk Oct 298,980 304,761 2,067,789
1,898,559
Chic Ind & L oulsv. 3d w k Oct 121,144 117,885
Chic Ind & Southern See New York Ccn tral.
17,057,384
Chic Mil & S t Paul Septem ber 0,504,203 0,287,926 17,844,045
Ch MU fc P ug S d . S eptem ber 1,102,399 775,599 2 3,475,123
19,738*374
0 , 3 /2 , 0 4
Clilc fc N orth W est. sep tem o er 1,304,83« 7,237.3-10
4,325,777 3,707,217
Chlc S t P M fc O m . S eptem ber 1,621,007 1,423.223
872,257 875,126 2,579,002 2,450,020
Cln H am & D ayton S eptem ber York
Cen tral.
Clev Cln Chic fc S t L See New 195.990
231,323 554,198 623,514
Colorado M idland S eptem ber 309.195 361,850
5,107,940
Oct 70,733 77,020 5,414,625
Colorado & S o u th .. J3du l wk
70,733
77,920
y
____
Copper R ang e_____
42,624
48,218
13.904 14,033
C o rn w a ll__________ Septem ber
72,848
75,581
35.905 30,470
A u g u s t___ 190,880
Cornw all fc L e b a n .. Septem
158,808 631,191 484,530
ber
C uba R ailro ad _____
1,763,208 1,018,019 5,203,884 4,867.835
D elaw are fc H udson Septem ber 3,046,594
9,130,527 8,995,928
Del Lack fc W e s t.. S eptem ber 717.000 2,940,504
721.500 8,702,158 8,415,329
D env fc Rio G rande 4 th w k Sep
419,455 386,608
D enver N W fc Pac 3 d w k o c t 20,159 24,701
676,218 509,981
D et Tol fc lro n t Sys 3 d w k Oct 50,998 33,029
633,902 687,051
47,247
49,070
3
d
wk
Oct
Ann A rbor.
418,028 425,618
31,339 33,079 3 ,594,05u
D etroit & M ackinac 4 th w k Oct 1,138,020
4,204,335
1,454,193
D ul fc Iron R a n g e .. S eptem ber
1,130,635
1,162,257
74,511
03,516
D ul Sou Sh & A tl.. 3 d w k Oct
1,768,244 1,743,579
E l Paso & Sou W est S eptem ber 581,221 554.495 15,115,969
13,714,406
E r i e .............................. S eptem ber 5,112,179 4,875,173
5,619
6,116
1,995
2,017
Fairchild fc N or E . S eptem ber
260.468
84,185 79,507 277,334
Fonda Jo hns fc Glov Septem ber
697,560
725,925
268,287
200,710
Septem
ber
G eorgia R a ilro a d ..
Georgia South fc Fla —See Sout hern Rail way.
15,372,939 10,362,968
G rand T ru nk S y st. 4 th w k Oct 1,392,943 1,321,050
1,792,755 1,934,520
G rand T rk W est. 3 d wk Oct 125,244 117,832
591,149 620,835
41,307 591,735
D et Gr Ila v fc Mil 3 d wk Oct 47,190 43,618
056,935
C anada A tla n tic . 3 d wk Oct 47,166 6,816,338 17,962,952 17,689,189
G reat N orthern Syst S eptem ber 0,294.922
315,361 313,859
Gulf fc Ship Isla n d . A u g u s t___ 103,634 157,928 2,186,401
1.992,264
H ocking V alley____ S eptem ber 770,751 760,844
Illinois C en tral____ S eptem ber 5,209,842 4,791,0/9 10,145,960 13,992,408
189.000 2,922,33* 2,587,983
In te rn a t fc G t N or. 3d w k Oct 200.000
221,992 2,834,509 2,670,071
a Intcroceanlc M ex. 4 th w k Oct 223,340
Oct 77,819 79,680 1,163,622 1,168,100
Iow a C entral______ 4Athu gwk
u s t___ 311,725 238,213 577,921 452,207
K anaw h a fc M ich .. September
7 3 4 ,1 6 0 2 ,5 7 6 ,3 3 0 2,156,773
K ansas C ity S o u th . 1st wk Oct 870,588
444,374
45.000 35,000 514,876
K C Mex & O rie n t..
2,887,555 9,024,981 8,568,324
L ehigh V alley------- Septem ber 3,010,765
87,338
41,492
77,344
46,353
A
u
g
u
s
t___
L oxlngton A E a s t ..
Inc. 197, 194
InC .Z i, 091
L ong isla n d _______ SSeptember
117,648 372,874 323,797
ber 129,356 102.409
L ouisiana fc A rk an . Aeptem
201,496
186,405
105,211
L oulsv H end fc S t L 3du gwku s t___
10,652,<17 15,398,897
Oct 1,135,885 1,066,023
s Loulsv fc N a sh v .. S eptem ber
3 5,558
35,774
12,477 12,833 2,505,211
M acon fc B Irm ’ham Septem ber 860,208
2,494,157
828,413
M aine C en tral_____
69,069
76,837
42,822 37,376 2,571,000
M aryland & P e n n a . A u g u s t___ 145,800
2.378.000
3d w k Oct 183,873 134,400
a M exican R ailw ay . September
288,346
555,756
103,130
a Mexico N or W est. —See New York Cen tral.
M lchlgan C entral
15,878 10,108 240,720 273,548
Oct
M ineral R an g e-------- 4idth wk
w k Oct 110,822 110,900 1,939,548 1,826,60.*
M Inneap fa S t Louis
M inn S t P fc S S M | 3d w k Oct 508,929 558,683 7,631,366 8,020,471
Chicago Division!
151,104
123,816
75,451 60,251 7,092,024
M ississippi C en tral. A u g u s t___ ,654,054
6,569,042
2,475,819
u Mo K an fc T ex as. S e p te m b e r
Mo Pao fc Iron MtV
1.162.000 17,181,694 16,579,123
C entral B ran ch .! 3d w k Oct ,212.000
2,854,041 2,781,413
970,828 934.410 20,965,709
N ashv C h att fc S t L S eptem ber ,736,304
18,203,032
1,539,724
a N at R ys of M ex .f. 4 th wk Oct
140,109 182,692
8,452 10,552
N evada-C al-O regon 3d wk Oct
18,110
18.449
6,807
6,046
N evada C en tral____ Septem ber
101,363 293,474 206,813
N O G reat N orthern A u g u s t___ 145,860
30,144 527,606 465,110
N O M obile fc C hic. Wk O ct 22 39.008 713,930
2.739,215 2,432,353
N Y O nt fc W estern Septem ber 826,343

Latest Gross Earnings.
Ju ly 1 to Latest D ate.
Week or Current Previous Current Previous
M onth.
Year.
Year.
Year.
Year.
N V N II fc H a r tf .. Septem ber 5,665,765 3,354,172 16,475,341 15,5525 ,160
e N Y C fc H ud RIv Septem ber 9,349,556 i ,860,782 26,804,142 25,175 ,649
L ake Shore & M S Septem ber 1,487,125 1,269,028 13,187,251 12,480 ,004
n L ake E fc W est S eptem ber 532,663 516,505 1,507,474 1,404 ,017
Chic Ind & South Septem ber 269,734 282.597 779,575 819 ,637
M ichigan C entral. Septem ber 2,634,249 2,557,816 7,915,189 7,252 ,506
Cleve C C fc S t L . Septem ber 2,792,529 2,623,288 7,990,364 7,541 ,023'
P eoria & E astern Septem ber 363,304 300,935 974,583 831 .983
C incinnati N o rth . S eptem ber 128,886 124,58' 366,807 331 ,751
P itts fc L ake Erie Septem ber 1,537,471 1,533,378 4,070,308 4,452 ,703
R u tla n d ___
Septem ber 340,018 301,244 966,770 882 ,375
N Y Chic fc S t L . Septem ber 936,075 844,017 2,783,405 2,554 ,147:
T oledo & Ohio C . Septem ber 516,241 412,076 1,485,056 1,163 ,374 1
T ot all lines above S eptem ber 23887851 22 626248 39,431,284 64,895, ,831
N Y Sus<i fc W e s t.. Septem ber 306,088 316,249 910,608 801, ,991
N orfolk S o u th e rn .. Septem ber 227,880 209,774 692,005 633 ,673 i
N orfolk fc W estern . S eptem ber 3,220,664 3,033,344 9,290,802 8,507 ,651
N orthern C en tral. . S eptem ber 1,121,819 1,091,519 3,220,470 3,115, 670
N orthern Pacific___ Septem ber 6,617,992 7,589,339 19,123,078 21,198, 295,
Pacific C oast Co___ A u g u s t___ 768,781 822,785 1,584,385 1,557 ,369
P ennsylvania C o__ Septem ber 5,154,60 1 ,9 0 2 ,5 4 15,269,697 14,067, 027
a P enn— E of P fc E Septem ber 14267059 13844559 12,023,623 10,305, 323
Die.2,162, 800
it W est of P fc E . Septem ber fnc.476, 000
Pere M arq u ette____ Septem ber 1,438,695 1,472,408 4,262,848 4,040, 438
Phlla B alt & W ash. S eptem ber 1,672,090 1,572,890 5,186,295 4,001, 695
P itts Cln Ch & S t L . S eptem ber 3,168,548 2,914,035 8,976,118 8 , 120, 021
36,816
Raleigh (ScSouthport Septem ber
12,538 10,860
34, 270
R eading C om pany
Phlla fc R ead in g . S eptem ber 3,830,102 3,677,901 10,888
10 .280,763
Coal fc Iron C o .. S eptem ber ‘ 236,628 2,037,895 5,680
.415,154
T otal bo th cos__ S eptem ber 6,1*6,730 5,715,796 16,575
15,695,918
Rich F red & Potom A ugust . . . 180,484 152,906 373,
337,633
R io G rande J u n e ___ A u g u s t___ 9/,1 60 85,845 186,
171,365
Rio G rande S o u th .. 3d w k O ct 11,863
138,273
8,540 198,
Rock Island L in e s.. Septem ber 249,659 5,973,175 17,659,
17,366,709
S t Jo s & G rand Isl. A ugust . . . 165,591 154,40
306,
296,495
S t Louis fc San F ran S eptem ber 3,761,53 * 3 ,6 3 6 ,2 U 2 10,746,
10,495,873
Chic & E ast III._ S eptem ber 1,0/2,884 990,667 3,100,
2,813,877
f E vans fc T er H Septem ber 256,351 220,513 753,
045,349
T o tal of all lines. Septem ber 5,090,773 1,847,383 14,606,
13,958,099
S t L R ky Mt fc P ac. Sentem ber 177,848 143,117 512,
420,470
S t Louis S outhw est. 4 th wk O ct 384,675 381,375 4,078,
3,774.180
San Ped L A & S L . A u g u s t___ 636,495 714,207 1,263,
1,463,291
Seaboard A ir L in e.)
A tlan ta fc B irin. > 3d w k Oct 430,858 412,209 5,950,266 5,529,302
F lorida W ShorcJ
S outhern In d .a n a .. A u g u s t___ 169,637 121,267 319,396 225,595
S ouinern Pacific Co Septem ber 11929/27 11531903 34,893,65 33,657,218
S outhern R a ilw a y .. 3d w k Oct 1,257,688 1,220,190 18,559,145 17,558,457
M obile & O h io ... 3d w k Oct 214,867 202,429 3,214,282 3,079,506
Cin N O & T ex P . 3d w k Oct 177,439 170,575 2,926,616 2,603,511
Ala G reat South. 3d w k Oct 87,127 79,470 1,364,786 1,140,991
724,03.) 671,487
G eorgia So fc F la . 3d w k Oct 47,859 47,751
T exas fc Pacific____ 3d w k Oct 383,172 366,852 4,863,141 4,518,189
21,622
6,748
7,242
19,789
T idew ater fc W est. Septem ber
Tolcdo Peor fc W est 3d wk Oct 25,936 22,162 408,020 362,168
Toledo S t L fc W est 3d w k Oct 83,584 89,081 1,215,323 1,209,616
21,039
6,230
18,851
6,741
T om blgbce V a lley .. Septem ber
Union Pacific S y st. Septem ber 8,609,636 8,100,373 25,005,765 23,583,841
V a n d a lla __________ Septem ber 973,067 863,432 2.795,721 2,391,013
V irginia <fc Sou W est Septem ber 107,181 102,443 310,008 305,077
W a b a s h ___________ ith w k Oct 842,447 770,021 10,616,768 10,055,493
W estern M aryland . A u g u s t___ 702,582 577.598 1,337,698 1,122,655
W Jersey & S e a sh .. Septem ber 714,908 622,408 2,482,835 2,205,439
W hecllng & L ake E Septem ber 640,041 645,313 1,968,008 1,851,142
72,626
70,920
32,710 37,270
W rlghtsvllle fc Tenn Septem ber
Yazoo & Miss V all. Septem ber 791,358 763,143 2,182,901 2,151,042
R O A D S.

V arious Fiscal Years.
B ellefontc C entral______ - _____
D elaw are & H ud son___________
a M exican R ailw ay____________
a M exico N ortii W estern______
e N Y C entral fc H udson R iv er.
L ake Shore & M ichigan South
n L ake Erie fc W estern ______
Chicago In d ian a fc S o u th e rn .
M ichigan C en tral____________
Cleve Cln Chicago & S t Louis
Peoria «Sc E a ste rn ____________
C incinnati N o rth e rn _________
P ittsb u rg h fc L ake E rie_____
R u tla n d _____________________
New Y ork Chicago fc St Louis
T oledo & Ohio C entral______
T otal all lines________________
N orthern C en tral_______________
d P en n — E ast of P lttsb fc E rie .
d W est of P lttsb & E rie______
Phlla B altim ore & W ash ingto n.
P lttsb Cin Chicago fc S t L ouis. .
Rio G rande Ju n c tio n ----------------T exas fc Pacific________________
W est Jersey fc Seashore_______

Ja n
Jan
Jn a
Jan
•Jan
Jan
Jan
Jan
Ja n
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Deo
Jan
Ja n

Period.
1 to Sept
1 to Sept
1 to Oct
1 to Sept
1 to Sept
1 to S ept
1 to Sept
1 to S ept
1 to Sept
1 to Sept
1 to Sept
1 to Sept
1 to S ept
1 to Sept
1 to Sept
1 to S ept
1 to Sept
1 to Sept
1 to S ept
1 to Sept
1 to Sept
1 to S ept
1 to Sept
1 to Oct
1 to S ept

Current
Year.
30 $61,553
30 14,899,136
21 6,750,000
30 1,624,04/
30 3,774,940
30 36,900,379
30 4,078,355
30 2,705,334
30 1,902,894
30 22,171,632
30 2,500,342
30 956,833
30 12,953,927
30 2,443,115
30 8,232,928
30 3,650,743
30 192337422
30 9,410,864
30 122447572
30 In c .11,54
30 14,268,706
30 25,767,809
30 742,713
21 12,293,817
30 5,082,791

Previous
Year.
$43,627
14,165,202
6,098,900
906,095
67,749,419
32,731,112
3,571,958
2,246,321
19,842,936
20,049,047
2,168,335
856,382
10,235,345
2,252,433
7,225,620
2,792,911
171721819
8,826,764
110148172
2,600
13,066,906
21,716,721
669,254
11,136,357
4,603,891

A G G R E G A T E S OF G RO SS E A R N IN G S — W eek ly and M on th ly.

Current Y r. Previous Y~. In c. or Dec. %
C ur’nt Year Prev's Year Inc. or Dec. %
M onthly Sum m aries.
ree. Yr.
$
$
$
S
M ileage Curr. Yr. F 231,699
$
$
222,006,184 205,455,121 + 16,551,063
08.05
2d w eek Aug (43 ro ad s)------ 13,330,857 12,132,599 + 1,198.258 9.87 D e c e m b e r__237,189 231,362 210,302,219
182,649,825 + 27,652,394 15.14
3d week Aug (42 ro a d s)____ 13,462,769 12,283,880 + 1,178,889 0.60 Ja n u a ry .-.2 3 6 ,7 5 8 231,652
4 th week Aug (39 ro a d s)____ 19,342,788 10,765,742 + 2,577,046 15.37 F e b r u a r y __236,852 230.841 202,258,490 174.159.723 + 28,098.767 16.15
_____ 235,025 232,463 237,533.005 204,916,097 + 32,616,008 15.02
1st week S ept (41 roads)____ 13,436,925 12.381.354 + 1,055,571 8.52 AM pa rr ilc h.............
237.569
225.225,596 196,595,911 + 28,629,685 14.56
13,014,025
+ 884,171 6.80
2d week S ept (39 ro a d s)------ 13,898,196 13.566.355
May
_ .237.560 232,494 234,310,642 201,069,381 + 33,241.261 16.53
+
598,420
4.41
3d week Sept (40 ro a d s)------ 14,164,775
19,035,149 18,221,030
J u n e ______ 238,108 232,054 237.036,159 209,270.887 4-27,765,272 13.27
+ 814,110 4.47 Ju
4 th week S ept (40 ro ad s)------ 14.399,6-10
ly
_ 221.164 217,466 217,202.265 205,879.959 + 11,322,306 5.5(1
14,023,816
+ 375,833 2.68
1st w eek O ct (42 ro a d s)-----14,158,835
4-679.365 4.80 A u g u s t____234.805 230.925 251,505,986 223,666,645 + 17.839.341 7.63
2d w eek O ct (42 ro a d s)------ 14,838,200
+ 602,475 4.15 S e p te m b e r.. 84,994 82.163 67,702.377 65,214,479 + 2,487,898 3.81
3d w eek O ct (42 ro ad s)------ 16,114,753 14,512,278
a M exican currency. <i Covers lines directly op erated, a Includes th e New Y ork fc O ttaw a, th e S t. Law rence Sc A dirondack and th e O tta w a fc
N . Y . R y. the la tter of w hich, being a C anadian road, does not m ake retu rn s to the In te r-S ta te Com m erce Com m ission, t Includes E v an sv ll'e
In d ia n a lift, o Includes the C leveland L orain fc W heeling R y. in both years, n Includes th e N o rth ern Ohio R R . p Includes earnings oi M asonC lty .
fc F t D odge and W ise M inn. <S> Pacific, s Includes L ouisville Sc A tlantic from Ju ly 1 1909 a n d th e F ran k fo rt fc C incinnati fro m Nov- 1 1909, I In*
eludes th e M exican In tern atio n al from Ju ly 1910. u Includes tho T exas C entral In 1910.
W eekly Sum m aries.




1240

THE CHRONICLE

Latest Gross Earnings by Weeks.— For the third week of
October our final statement covers 42 roads and shows 4.15%
increase in the aggregate over the same week last year.

T h ird week of October.
P rev iou sly rep o rted (32 roads)
A tla n ta B irm ingham & A tlantic
Chicago G reat W estern — ...........
C hicao In d & L ouisville_______
D enver N orthw est & Pacific___
D e tro it & M ac k in a c ___________
D e tro it T oledo & fro n to n _____
G eorgia S o uthern & F lo rid a ___
N evada-C alifornia-O rcgon -----R io G rande S o u th e rn __________
S eaboard Air L in e --------------------T o tal (42 ro a d s)--------------------N et increase (4 .1 5 % )__________

1910.
1909.
Increase.
5
$
5
5
14,040,896 13,473,178 757,152 189,434
6,071
59,686
53,615
5,775
298,986 304,761
3,559
117,885
121,444
4,032
24,791
20,159
1,815
25,367
23,552
33,629 17,369
50,998
108
47,751
47,859
2,100
10,552
8,452
3,323
8,540
11,863
18,649
430,858 412,209
15,114,753 14,512,278 806,231 203,750
602,475

Net Earnings Monthly to Latest Dates.— The table fol­
lowing shows the gross and net earnings of STEAM railroads
and of industrial companies reported this week:

-----Gross E arnings
C urrent Previous
Year.
Year.
Roads.
5
$
6,153
8,393
A labam a T enn & N o r .b .S ept
17,414
23,870
Ju ly 1 to S ept 3 0 ______
216,484
A tlantic BIrm & A tl.b -.S e p t 221,084
594,731
Ju ly 1 to S ept 30---------- 004,074
A tlan tic C oast L in e .a .-S c p t 2,240,774 2,173,130
5,830,732
Ju ly 1 to S ept 3 0 ---------- 0,404,588
B oston R evere Beach & L y n n .b —
294,549
Ju ly 1 to S ept 3 0 ______ 300,020
675,281
J a n 1 to S ept 3 0 ______ 708,947
3,983,948
B oston & M a in e .b ______ S ept 4,170,981 11,658,849
Ju ly 1 to S ept 30 ______ 12,130,577 11,058,849
8,323,178
C anad ian P a c lflc .a ______S ept 9,315,214 22,890,193
Ju ly 1 to S ept 30----------27,439,700
C entral R R of N J .b .- S e p t 2,410,792 i 2,228,715
Ju ly 1 to S ept 3 0 ---------- 7,227,399 6,722,657
Ches & Ohio L ines______S ept 2,901,332 2.732,275
Ju ly 1 to S ept 3 0 ---------- 8,599,355 i 7,754,876
Chic B url & Q u in c y .b .-S e p t 8,395,209 7,806,737
22,533,348
Ju ly 1 to S ept 3 0 ______ 23,840,078 22,533,348
Chic Mllw & S t P aul . a . -S ep t 0,504,203 6,287,926
17,057,384
Ju ly 1 to S ept 3 0 ______ 17,844,045 17,057,384
775,599
Chic Mllw & P ugetSd a S ept 1,102,399
Ju ly 1 to S ept 3 0 ---------- 3,475,123
7,237,348
Chicago & N o rth W est b S ept 7,304,835
19,738,374
Ju ly 1 to S ept 3 0 ______ 20,372,047 19
231,323
C olorado M id la n d .a ____S ept 195,990
623,514
Ju ly 1 to S ept 3 0 ---------- 554,198
158,898
C uba R R ............. .................S ep t 190.880
484,536
Ju ly 1 to S ept 3 0 ---------- 031,191
D elaw are & H u d s o n .b .S e p t 1,703,208 1,618,819
J a n 1 to S ept 3 0 ______ 14,899,130 14,165,202
D el L ack & W e s te rn .b .S e p t 3,046,594 2,940.504
Ju ly 1 to S ept 30 ---------- 9,136,527 8,995,928
D enver & R io G ra n d e .a .S e p t 2,257,611 2,131,739
Ju ly 1 to S ept 3 0 ______ 0,507,758 6,168,929
4,875,173
E rle .a - ______ _________ S ept 5,112,179 13,714,456
Ju ly 1 to S ept 3 0 ----------15,115,959
1,995
F airch ild & N orth east_ b S ept
2,017
5,019
Ju ly 1 to S ept 3 0 ---------0,116
G enesee & W y o m in g .b —
„„„i
34,559
Ju ly 1 to S ept 30 ---------35,809 '
78,927
•’ J a n 1 to S ept 3 0 .............
94,667
G eorgia R R . b __________S ept 260,710 ii 268,287
697,560
J u ly 1 to S ept 3 0 .-------- 72o,92o
G reat N o rthern b — — S ept 0,294,922 6,816,339
17,689,190
Ju ly 1 to S ept 30............. 17,902,952 : 17,689,190
G rand T ru n k of C anad a—
G rand T ru n k R y ____S ept 3,217,730 ' 3,058,109
Ju ly 1 to S ept 30............- 8,823,938i 8,717,848
G rand T ru n k W e st’n .S e p t 529,475i 520,715
Ju ly 1 to S ept 30 ---------- 1,421,991 1,567,986
180,061
D et G r H av & M llw ..S e p t 184,927
503,196
Ju ly 1 to S ept 30 ---------- 462,804
189,307
C anada A tla n tic _____ S ept 175,681
528,988
Ju ly 1 to S ept 30 ---------- 464,751
760,844
H ocking V alley , b --------S ep t 770,751
Ju ly 1 to S ept 30 ---------- 2,180,401 1,992,264
Illinois C entral . a ----------S ept 5,209,842 4,791,579
13,992,468
Ju ly 1 to S ept 3 0 ______ 15,145,960 13,992,468
615,046
g In te ro c e a n lc of M exico S ept 632,001
Ju ly 1 to S ept 3 0 ______ 2,094,694 1,941,512
316,938
Io w a C e n tra l.a _________ S ept 309,262
840,537
Ju ly 1 to S ept 3 0 ---------- 854,326
L ong Isla n d -------------------S ept
Inc 2!7,091
)9,615
J a n 1 to S ept 3 0 ---------In c 60
L ouisiana & A rk a n sa s..S e p t 129,356, 117,648
Ju ly 1 to .Sept 3 0 .-------- 372,874 , 323,797
L ouisville & N a s h v .b .-S e p t 4,610,171 4,267,792
12,218,027
Ju ly 1 to S ept 3 0 ______ 13,379,037 12,218,027
518,096
M Inncap & S t L o u ls .a .-S e p t 554,482
Ju ly 1 to S ept 30 ______ 1,401,351 1,260,585
M issouri K ans & T e x .b .S e p t 2,654,054 2,475,819
Ju ly 1 to S ept 3 0 ______ 7,092,024 5.569,042
934,410
N ashv C h att & S t L .b .- S c p t 970,828 2,781,413
Ju ly 1 to S ept 30 ---------- 2,854,041
4,388,906
g N ational R y s of M c x .-S e p t 5,124,243
13,379,158
Ju ly 1 to S ept 30______ 15,589,379 13,379,158
N Y New H av & I la f t.b S ept 5,665,765 5.354,172
Ju ly 1 to S ept 30 _______16,475,341 15,552.160
c N Y C ent & H u d R lv .b S ept 9,349,556 8,860,782
Ja n 1 to S ept 3 0 ..............73,774,940 67,749,419
L ake Sli & M ich S o .b .S e p t 4,487,125 4,269,028
32,731,112
Ja n 1 to S ept 3 0 ----------36,900,379 32,731,11
516,505
e L ake E rie & W o s t.b .S e p t 532,663
Ja n 1 to S ept 3 0 ---------- 4,078,355 3,571,958
Chic In d ia n a & S o .b -S e p t 269,734: 282,597
J a n 1 to S ept 3 0 ---------- 2,705,334 2,246,321
M ichigan C e n tr a l.b - -S ep t 2,634,249 ' 2,557,816
19,842,936
J a n 1 to S ept 3 0 ______ 21,902,894 19,842,930
Clev Cin Chic & S tL b S e p t 2,792,529 2,623,288
20.049,047
Ja n 1 to S ep t 3 0 ............22,171,632 20,049,047
300,935
P eoria & E a s te r n .b .-S e p t 363,304
J a n 1 to S ept 3 0 ______ 2,566,342 2,168,335



-N et EarningsCurrent Previous
Year.
Year.
5
$
3,121
3,936
8,914
11,508
50,441
56,335
155,435
113,802
649,974
606,201
1,500,772 1,323.213
62,418
66,570
96,139
93,961
908,565 1,153,404
3,529,196 3,096,443
3,911,600 3,431,800
11,087,892 8,875,819
982,906
949,039
2,972,315 2,970,502
1,084,643 1,133,091
3,191,375 3,221,667
3,163,196 2,340,643
7,750,140 7,024,511
1,898,178 2,172,730
4,819,193 5,156,421
501,332
449,619
1,586,504
2,570,782 2,667,936
6,537,166 6,908,933
34,102
46,783
86,996
102,202
71,847
56,394
274,771
156,506
682,150
672,999
5,827,953 5,454,193
1,159,675 1,367,872
3,644,744 4,251,002
690,253
668,823
2,096,590 2,046,973
1,419,782 1,361,939
4,605,506 3,766,034
def 798 def 1,595
def7,410 dcf4,580
23,315
23,083
' 60,420
43,009
72,836
92,674
132,648
164,485
3,039,283 3,532,323
7,660,466 8,201,384

948,481
951,401
2,514,034 2,508,681
127,502
156,214
284,690
482,756
36,985
54,991
49,637
123,851
17,033
20,109
11,680
40,392
358,340
323,523
945,833
833,474
1,278,417
925,268
3,392,226 2,149,738
214,794
196,142
773,465
608,838
1)71,748
7)94,871
1)170,079 7)189,109
D ec 73,376
Dec 49,840
20,055
19,564
61,736
76,503
1,437,481 1,737,275
3,845,492 4,807,302
*203,194 *215,865
*435,879 *459,947
846,887
922,605
1,939,014 2,265,910
231,590
233,470
676,785
700,720
2,025,356 1,555,849
6,286,115 5,120,333
2,170,451 2,189,752
6,319,242 6,338,283
3,096,775 3,134,023
19,331,879 20,441,473
1,567,912 1,758,995
11,341,665 12,313,698
142,997
183,106
929,254
707,916
32,007
77,248
642,461
478,843
681,051
948,826
6,130,387 6,245,016
733,395
934,912
5,000,388 5,743,541
127,541
109,599
718,393
621,890

[V O L . L X X X X I .

----- Gross E arnings----- -------N et E arn ings-----Current P revious C urrent Previous
Year.
Year.
Year.
Year.
Roads.
8
$
$
N Y C ent & H ud R iv (Con) —
41,357
33,440
124,582
C incinnati N o rth ern b S ept 128,886
189,874
201,252
856,382
Ja n 1 to S ept 3 0 ---------- 956,833
958,516
857.088
P ittsb & L ake E rle .b .S e p t 1,537,471 1,533,378
5,620,607
7,080,772
Ja n 1 to S ept 3 0 ______ 12,953,927 10,235,345
118.484
123,701
R u tla n d .b __________Sept 340,018
301,244
058,904
729,105
Ja n 1 to S ept 3 0 ______ 2,443,115 2,252,433
300,809
207,098
844,017
N Y Chic & S t L b -S ep t 930,075
Ja n 1 to S ept 30 ---------- 8,232,928 7,225,620 2,506,503 2,197,300
176.485
412,076
246.088
Toledo & Ohio C e n t.b S ept 510,241
832,160
Ja n 1 to S ept 3 0 ______ 3,650,743 2,792,911 1,319,012
T otal all lines b _____ S ept 23,887,851 22,626,248 7,910,053 8,742,357
192,337,422 171721,819 55,931,671 56,051,228
Ja n 1 to S ept 3 0 .
158,559
268,355
N Y O nt & W e s t.a _____ S ept 826,343
713,930
786,158
Ju ly 1 to S ept 3 0 ______ 2,739,215 2,432,353 1,032,647
78,098
84,210
N Y Susq & W e ste rn .a -S ep t 306,088
316,249
197,650
237,745
Ju ly 1 to S ept 3 0 ______ 910,608
801,991
N orfolk & W e ste rn .b -S ep t 3,220,664 3,033,344 1,292,034 1,316,123
Ju ly 1 to S ept 3 0 ______ 9,290,862 8,507,651 3.481,264 3,577,341
253,413
247,713
N orthern C e 'n tra l.b -__ S ept 1,121,819 1,091,519
Ja n 1 to S ept 3 0 ______ 9,410,864 8,826,764 1,728,205 1,696,105
N orthern P a c illc .b _____ S ept 6,617,992 7,589,339 3,016,916 3,540,029
Ju ly 1 to S ept 3 0 _______19,123,078 21,198,295 8,074,962 9,723,627
PennsylvanlaC om pan// b S ept 5,154,607 4,962,547 2,040,472 2,207,216
Ju ly 1 to S ept 3 0 .............15,269,697 14,067,027 5,710,125 0,042,370
P enn sylv an ia— L ines d irectly o p erated —
E ast of P itts & E rie ..S e p t 14,267,059 13,844,550 4,450,477 4,571,477
Ja n 1 to S ept 3 0 ...........122,447,572 110448,172 33,102,001 31,706,401
D ec 268,300
W est of P itts & E rie ..S e p t
Inc 476,000
In c 980,700
Inc 11,542,000
Ja n 1 to S ept 30 ______
511,166
419,466
Phila B alto & W a sh ____S ept 1,672,090 1,572,890
Ja n 1 to S ept 3 0 ______ 14,268,706 13,066,906 3,313,886 3,201,286
7)25,753
« 2 9 ,148
85,845
R io G rande J u n c tio n Aug
97,160
669,254 7)222,814 7)200,776
D ec 1 to Aug 31 ______ 742,713
R ock Islan d L in e s .b ___S ept 6,249,659 5,973,175 1.876.584 2.048.685
Ju ly 1 to S ept 3 0 ______ 17,659,878 17,366,909 5,000,403 5,954,392
S t L ouis & San F r a n .b .S e p t 3,761,537 3,636,202 1,235,302 1,134,942
Ju ly 1 to S ept 30 ______ 10,746,749 10,498,873 3,430,376 3,281,834
361,006
348.995
Chic & E astern 111.b.Sept 1,072,884
990,667
Ju ly 1 to S ept 3 0 ______ 3,106,628 2,813,877 1.023.585 1,042,176
97,738
105,834
220,513
E vansv & T erre H .b .S e p t 256,351
289,372
645,319
313,248
Ju ly 1 to S ept 3 0 ---------- 753.588
T otal all lin e s .b _____ S ept 5,090,773 4,847,383 1,690,132 1.593.686
Ju ly 1 to S ept 3 0 ______ 14,606,965 13,958,099 4,767,209 4,613,382
45,951
64,894
S t L R o ck y M t & P a c .a .S c p t 177,848
143,117
131,132
171.995
Ju ly 1 to S ept 3 0 ______ 512,920 420,470
336,248
317,365
S t L ouis & S o u th w e st.a .S e p t 1,033,481
972,927
788,255
690,628
Ju ly 1 to S ept 3 0 ............. 2,904,146 2,025,875
477,636
445,521
S eaboard Air L in e .a - -.S c p t 1,611,728 1,543,921
1,108,578
1,147,978
Ju ly 1 to S ept 30 ______ 4,058,952 4,285,291
4,608,270
S o uthern P a c ific .a . ____S ept 11,929,727 11,531,903 4,454,865
.
Ju ly 1 to S ept 30 ______ 34,893,657 33,657,218 12,064,584 13,088,126
S o uthern R ailw ay—
273,578
354,452
764,429
Cine N O & T ex Pac b S ept 806,652
746,975
Ju ly 1 to Sept 3 0 ............. 2,384,411 2,087,557 1,018,270
87,480
126,647
329,074
Ala G reat S o uthern b .S e p t 377,790
241,931
338,769
914,374
Ju ly 1 to S ept 30 ______ 1,117,811
54,070
54,143
188,005
G eorgia So & F la .b . -S ep t 197,580
137,441
137,080
528,233
Ju ly 1 to S ept 30 ______ 581,333
2,075
2, 210
6,741
6,230
T om blgbee V a lle y .b __ S ept
6,235
7,813
18,851
Ju ly 1 to S ept 3 0 ______
21,039
Union P a c llic .a __ __ S ept 8,609,636 8,100,373 3,883,863 4,257,373
Ju ly 1 to S ept 30______ 25,005,765 23,583,841 10,995,206 12,226,694
279,379
231,086
V a n d a lla .b . . . _____...S e p t 973,067
863,432
679,816
640,490
Ju ly 1 to S ept 3 0 ............ 2,795,722 2,391,013
35,238
35,750
V irginia & S o u th w e st.b .S e p t 107,181
102,443
100,301
103,208
Ju ly 1 to S ept 3 0 ______ 310,068
305,077
239,002
227,202
W est Jersey & Seashore .S e p t 714,008
622,408
Ja n 1 to S ept 30______ 5.082,791 4,603,891 1,306,857 1,345,157
52,768
78,786
Y azoo & Miss V a lle y .a .S e p t 791,358
763,143
168,019 def9,324
Ju ly 1 to S ept 30______ 2,182,001 2,150,042

INDUSTRIAL COMPANIES.

-N et E arn ings-Gross E a m in g sC urrent Previous Current P revious
Year.
Year.
Year.
Year.
?
$
$
$
A bln gton & R ock land E lect3t
3,063
7,681
4,052
9,549
L ight & Pow er C o. b .S e p t
18.271
51,163
22,633
69,219
J a n 1 to S ept 30---------33,276
26,509
20,933
42,432
A tlantic C ity El C o___S ept
203,800
A m erican E xpress C o. b . Ju ly 1,670,349 1,472,097
180,774
42,556
89,555
83,997
47,037
B lackst Val G as & E l. b .S e p t
329,355
383,146
691,604
Ja n 1 to S ept 3 0 ______ 747,188
8,854
11,119
25,702
22,365
E dls El C o(B rockton) .b .S e p t
79,647
97,016
189,022
Ja n l to S ep t 30 ______ 217,487
16,353
10,551
36,332
Fall R iv er G as W o rk s. b .S e p t 41,273
123,756
136,003
292,854
Ja n 1 to S ept 3 0 ______ 316,727
10,575
11,069
20,645
21,558
H oughto n Co E l L t- b .- S e p t
93,143
86,527
182,107
Ja n 1 to S ep t 3 0 ______ 193,068
14,435
14,364
29,187
34,303
Low ell El L t C o rp .b ....... S ept
129,654
106,154
255,557
J a n 1 to S ep t 30 ______ 305,384
7,713
7,219
12,483
M arlon L ight & H eat Co S ep t
14,554
76,120
94,013
55,155
M lnneap Gen E l C o .b ..S e p t 115,002
554,693
701,472
445,762
Ja n 1 to S ept 30______ 910,172
45,232
33,219
31,915
47,544
Sierra Paclllc E lect C o .-S ep t
12,051
7,734
14,519
6,301
W heeling C o s .................... S ept
a N et earnings here given a re a fte r d ed u ctin g tax es.
.
b N et earnings here given a re before d ed u ctin g tax es,
c Includes th e N . Y . & O tta w a , th e S t. L aw rence & A dirondack a n d th e
O ttaw a & N . Y. R y ., th e la tte r of w hich, being a C anadian ro ad , docs n o t
m ake retu rn s to th e In te r-S ta te C om m erce Com m ission.
e Includes th e N o rth ern O hio R R .
g T hese results a re In M exican currency ,
li For S ept. 1910 a d d itio n a l Incom e Is given as show ing a credit of 54,575
a g ain st a credit of $2,137 In 1909, a n d for period from Ju ly 1 to S ept. 30 w as
a credit of 59,194 In 1910, ag ain st a deficit of $522 la st year.
fc For S ept. 1910 a d d itio n a l Incom e w as 55,791, ag ain st $16,282 in 1909,
and for period from Ju ly 1 to S e p t. 30 w as $31,245 hi 1910, ag ain st $49,423
la st year.
n T hese figures rep resen t 30% of gross earnings.
C om p a n ies.

Interest Charges and Surplus.

— m t.. R entals, & c.— — D al. oj N et E ’ngs
C urrent Previous C urrent Previoi
Year.
Year.
Year.
Roads.
5
$
$
B oston R evere Beach & L ynn#55,2
#56,636
14,937
15,527
Ju ly 1 to S ept 3 0 ______
#56,647
#58,5
47,550
49,643
. . Ja n 1 to S ep t 3 0 ______

T H E CH RONICLE

N oy . 5 1910 .]

— In t., R entals, & c.— D al. of N et E a rn s.Current Previous C urrent Previous
Roads.
Year.
Year.
Year.
Year.
5
5
5
3
453,867
370,496
C en tral H R of N J ______S ept 529,038
578,543
Ju ly 1 to S ept 3 0 ______ 1,580,949 1,646,297 1,391,366 1,324,205
a2,995
29,820 adef6,000
Colorado M idland_______ S ept 29,820
Ju ly 1 to S ept 3 0 ______
89,460
89,460 adcf32,359 adef28,753
35,180
21,166
35,228
C uba U R ------------------------ S ept 36,667
164,771
51,286
Ju ly 1 to S ept 30 ______ 110,000
105,220
442,180 d250,972 (1284,782
D enver & R io G ra n d e ..S e p t 525,834
Ju ly 1 to S ep t 3 0 ______ 1,473,322 1,263,655 (1859,085 (1980,998
Genesee & W yom ing;—
Ju ly 1 to S ept 3 0 ______
7,944
15,371
7,829
15,371
J a n 1 to S ept 3 0 ______
23,895
*56,622
22,287
36,525
60,419
*3,553
G eorgia R R ---------------------S ep t 77,979
*42,122
180,675*defl04,243
*11,023
Ju ly 1 to S ep t 3 0 ______ 263,211
529,146 *271,511 *394,493
M issouri K a n sas & T e x .S e p t 610,529
Ju ly 1 to S ept 3 0 ______ 1,785,483 1,604,977 *225,959 *670,215
93,920
146,237
N . Y . O n tario & W e st. .S e p t 1 2 2 , 1 1 8
64,639
287,850
677,416
Ju ly l t o S ept 3 0 ______ 355,231
498,308
461,460
790,611
N orfolk & W e ste rn ______ S ept 501,423
854,663
Ju ly 1 to S ept 3 0 ______ 1,507,910 1,388,047 1,974,354 2,189,294
8,333
20,815
R io G rande Ju n c tio n — A ug
8,333
17,420
75 ,000
147,814
Dec 1 to A ug 31 ______
75,000
123,776
S t L R o ck y M t & P a c ..S e p t
31,877
35,309
33,017
10,642
106,818
73,747
98,248
Ju ly 1 to S ept 30 ______
24,314
IN D U S T R IA L C O M PA N IES .
—m t., Rentals, A c.— — D al. o f N et E ’ngs.—
Current Previous
Current Previous
Com panies.
Year.
Year.
Year.
Year.
$
5
A blngton & R ockland E lect
L ight & Pow er Co------S ept
798
796
3,254
2,267
J a n 1 to S ept 3 0 ______
6,919
3,827
15,714
14,444
A tlantic C ity El C o------S ept
5,048
5,381
21,461
15,552
B lackst V al Gas & E l..S e p t
30,380
29,451
16,657
13,105
J a n 1 to S ept 3 0 ______ 250,796
249,562
132,350
79,793
E dison E l Co (B rockton) S ept
4,727
3,646
6,392
5,208
J a n 1 to S ept 3 0 ______
37,523
29,719
59,493
49,928
F all R iv er Gas W o rk s..S e p t
3,814
1,660
15,737
14,693
J a n 1 to S ept 3 0 .............
32,068
21,150
104,925
102,606
H o u ghto n Co E lect L t-.S e p t
4,5
53
4,266
6,516
6,309
J a n 1 to S ep t 30 ______
39,528
37,406
53,017
49,141
Low ell E lec t L t C o rp— S ept
4,853
6,761
0,582
7,603
J a n 1 to S ept 3 0 ______
41,940
40,350
87,714
65,804
M arlon L t & H eat C o ..S e p t
2.174
2,597
5,540
4,623
M lnncap Gen E lect C o ..S e p t
32,531
31,529
43,769
23,626
J a n 1 to S ep t 3 0 ---------- 283,651
271,319
271,042
174,443
S ierra Pacific E l C o-------S ept
6,020
5,860
27,199
26,055
W heeling C os-------------- S ept
1,109
709
6,625
5,592
a A fter allow ing for n e t m iscellaneous d e b it to Incom e,
d T hese figures are a fte r allow ing fo r o th e r incom e a n d fo r disco un t an d
exchange. T he sum of $10,000 Is ded u cted every m o n th from surp lus
a n d placed to th e cred it of th e R enew al F u n d .
* A fter allow ing for o th e r Incom e received.
E L E C T R IC

R A IL W A Y

N a m e of
R oad.

AND

T R A C T IO N

Latest Gross E arnings.
J a n . 1 to latest date.
Week or Current Previous Current P revious
M onth.
Year.
Year.
Year.
Year.

A m erican R y s Co____ S eptem ber
cA ug Elgin <Ss Chic R y A ugust . . .
B angor R y & Elec Co S eptem ber
B aton ftouge Elec Co S eptem b er
B ingham ton S t R y .. Ju ly ...........
B lrm ’ham R y L t & P Ju ly _____
B ro ck t’n & P ly S t R y. S eptem b er
Cape B reton Elec C o. S eptem ber
C arolina P ow & L t Co S eptem ber
C entral P en n T ra c ___S eptem ber
C h attan oog a R y & L t S eptem ber
Chicago R ailw ays Co. A ugust . .
Cleve P alnesv & E ast S eptem ber
D allas E lectric C orp. S eptem b er
D e tro it U nited R y ___ 3d w k Oct
D ulu th-S up erior TrCo S eptem ber
E ast S t L ouis & S u b . S eptem ber
El Paso E lectric_____ S eptem b er
F alrm & C larks T r Co S eptem ber
F t W ayne & W abash
V alley T ractio n Co S eptem b er
G alv-IIous E lect C o. .Septem ber
G rand R ap id s R y C o. S eptem ber
H a v a n a E lectric R y . W k O ct 30
H onolulu R apid T ran
J u n e _____
& L and C o ..
H ou ghto n Co T rac Co S eptem ber
Illinois T raction C o .. A u g u s t___
Jackso nv tlle E lect Co S eptem ber
K ans C ity R y & L t Co S eptem ber
L ako Shore Elec Ky_ S eptem ber
Mllw El R y & L t Co. S eptem ber
Mllw L t H t & T r Co. S eptem ber
M o u t real S tre e t R y . . S eptem ber
N ashville R y A L ight S eptem ber
New O rleans R y & L t S eptem ber
N orf & P o rtsm T r Co S eptem ber
N orth O hio T rac & Lt S eptem ber
N orth T ex as Elec Co A u g u s t__
N orthw est Elec Co. O ctober . .
N orf & P o rtsm T r Co
...
P adu cah T r & L t Co A ugust ber
P ensacola E lectric Co SS eptem
eptem
ber
P ort(O rc) R y ,L & P Co eptem ber
P u get Sound Elec Co SS eptem
ber
Rio de Jan eiro T ram
L ight & Pow er Co .
S t Joseph (Mo) R y L t S eptem ber
H e at & Pow er Co _. eptem ber
Sao Paulo T r L t & P . SS eptem
ber
S av an n ah E lectric Co September
S eattle E lectric C o___ September
Sou W isconsin R y Co S eptem ber
T am pa E lectric C o . . September
Toledo R ys & L ig h t. A u g u s t___
T oronto R ailw ay Co. S eptem ber
T w ln C ity R a p T ran.. 3d
w k O ct
U nderground E l Ry *v;n
of L ond on—
T hree tub e lin e s__ W k O ct 20
M etropolitan L is t. wk rOct : o
U nited T ra m w a y s. W k O c t 20
U nIonR y,G & E C o(lll) S eptem ber
U nited R R s of SanJFr S eptem ber
W h atcom Co R y & L t S eptem ber

$

$

350,519
178,730
54,806
8,881
37,330
216,505
11,975
28,835
17,402
68,109
77,022
1224,175
33,647
110,804
174,337
03,570
211,240
54,846
62.032
136.685
110,145
101,019
39,744
37,866
26,710
523,558
45,995
628.685
115,009
401,958
108.901
463,070
163,307
493,491
172,005
224.901
119,813
193,914
188,834
21,251
23,264
400,209
160,545
982,762
92,034
260,829
51,598
481,158
14,701
44,969
238,733
428,580
145,182

323,566 2,939,780
163,698 1,090,858
52,330 422,183
8,249
70,827
34,910
183,187 1,406,110
12,832
94,130
25,890 217,063
17,545 154,349
62,079 623,109
67,806 650,947
1088,209 8,859,519
31,301
269,381
107,570 1,037,613
146,913 7,540,480
87,217 810,727
176,402
50,501 1.756,761
460,332
47,695 445.992
132,736
100,837 1,134,72
966,130
97,626 856,061
39,351 1,778,041
34,689 221,557
28,732 237,450
462,266 3,874,962
38,3
4 23,414
584,287 5,496,114
108,207 913,664
309,446 3,450,770
99,820 . 806,979
382,061 3,320,109
155,890 .1,341,847
460,738 4,029,019
158,234
202,156 1.837,406
109,422 923,376
184,430 1,833,058
174,211
19,006
21,649 199,464
420,777 4,106,489
179,056 1,445,274
642,731 7,361.002
88,285 760,
200,496 2,150,
49,523 468,
568,494
13,472 133
47,108 459
235,644 1,939
379,981 3,105
132,331 6,053

£12,935
£11,054
£5,738
241,764
653,0 >1
33,7 <1

£13,555 £546,505 £540,300
£10,474 £460,547 £421,578
£5,336 £275,785 £263,794
224,313 2,137,596 2,016,724
624,261 5,667,220 5.157,039
34,836 290,200 2 9 5 ,190

c T hese figures are for consolidated com pany.



C O M P A N IE S.

2,715,09 2
1,009,266
395,406
70,749
1,276.482
103,902
187,904
141.318
564,747
574,785
8,049,667
242,206
931,301
6,416,655
723,602
1,481,078
426,875
346,441
1.038,350
894,005
776.022
1,663,466
197,684
242,425
3,415,017
350,587
5,054,811
835,061
3,116,885
706,129
2,939.765
1,260,683
4,445,669
l ,63 1,1 v:;
805,290
1,707,853
184,050
3,547,647
1,110,887
5,607,495
722 ,808
1,776, ,271
451, 818
12o" 410
436, 254
1,763, 698
2,857, 291
5,574, 528

1241

E lectric R a ilw a y N et E a rn in gs. — The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed s atement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Sept. 24 1910. The
next will appear in the issue of Nov. 26 1910.

------Gross E arnings----- -------N et E arn ings------C urrent Previous C urrent P revious
R oads.
Year.
Year.
Year.
Year.
$
3
5
$
B an g o r R y & E l C o .b ..S e p t
54,806
52,330
34,538
32,500
166,878
160,877
99,380
96,025
B a to n R ouge E l C o. b ...S e p t
8,249
8,881
2,744
3,285
J a n I to S e p t 30______
79,827
70,749
27,791
20,010
B ingham ton S t R y .b —
355,544
338,959
152,172
146,403
B rock & P ly m S t R y . b S ept
11,975
1 2,832
4,447
3,474
J a n 1 to S ep t 30______
94,130
103,902
29,837
31,849
B rooklyn R ap T ra n , a —
A p r 1 to Ju n e 30 ______ 5,572,257 5,284,481 1,985,007 1,489,989
J a n l t o Ju n e 3 0 ______ 10,439,052 9,753,146
3,368,825 2,507,343
Ju ly 1 to Ju n e 30 --------121,’348,’498 19,’583,’460 7,239,313
5,624,107
C ape B reton E l C o .a .- .S e p t
2 8 ,8 3 5
25,890
15,722
12,623
Ja n 1 to S ept 30______ 217,063
187,904
98,739
72,512
Clev P alnesv & E a s t.a S e p t
33 647
31,361
15,480
14,149
J a n 1 to S ept 3 0 ______ 269,381
242.206
130,365
113,621
C olum bus E lect C o .b ___ S ept 39,236
31,604
22,526
13,275
Coney Isl & B k ly n .a —
A pr 1 to Ju n e 3 0 ______ 384,768
397,995
51,217
148,834
Ja n 1 to Ju n e 3 0 ______ 6 6 7 , 5 1 9
680,513
107,385
230,736
D allas E lect C o rp .b ------- S ept 119,804
107,570
44,266
33,058
Ja n 1 to S ept 30---------- 1,037,613
931,301
326,659
334,093
E l Paso E lect C o. b _____ S ept
54 8 4 6
50,501
23,463
20,627
Ja n 1 to S ept 3 0 ______ 460,332
426,875
194,655
166,415
F t W ayne & W ab V a l.b S ept 136,685
132,736
61,188
61,672
J a n 1 to S ept 3 0 ______ 1,134,725 1,038,350
495,812
429,811
G alv-H oust E l C o .b _____ S ept 110,145
100,837
46,837
44,474
J a n 1 to S ept 30---------- 966,136
894,605
374.238
369,950
G rand R ap id s R y C o -b .S c p t 101,019
97,626
49.031
54,427
J a n 1 to S ept 3 0 ______ 850,001
776,022
440,886
413,061
H ou ghto n Co T r C o .b ___ S ept 26,710
28,732
14,057
14,703
J a n 1 to S ept 3 0 ______ 237,450
242,425
111,891
110,725
H udson & M a n h a tta n .a —
A p r l t o Ju n e 3 0 ______ 641,581
205,208
348.605
59,299
J a n 1 to Ju n e 3 0 ______ 1,290,157
416,951
682,071
117,284
Ju ly 1 to Ju n e 30______ 2,237,459
743,702 1,056,024
141,671
Jacksonville E l C o .b ...S e p t
45,995
38,375
18,839
17,568
Ja n 1 to S ept 30______ 423,414
350.587
193,633
148,690
L ak e Shore El R y .a .- .S e p t 115,009
108.207
60,592
58,365
J a n 1 to S ept 30______ 913,664
835,061
440,504
395,370
L ew iston A ug & W ’vllle S ept
53,599
51,753
25,150
24,812
Ju ly 1 to S ep t 3 0 ______ 174,621
177,354
83,781
92,010
L ong Island E le c .a —
A pr 1 to Ju n e 30 ______
12,115
52.165 dcfl.1 3 4
13.605
47,428
J a n 1 to Ju n e 3 0 _____
84,141 def8,234
11,016
M ass E lect C o s.b—
Ju ly 1 to Sept 3 ) ______ 2,741,765 2,627,878 1,307,138 1,336,978
O ct l t o S ept 3 1 ______ 8.560,949 8,051,320 3.200.654 2,903,959
M etrop olitan S t R y Sys a —
A pr 1 to Ju n e 3 0 ---------- 3,688,738 3,703,714
406,241 1,150,507
Ja n 1 to Ju n e 30 ________ 7,129,618 7,020,955
__
988,269 1,817,951
Ju ly 1 to Ju n e 30-----------14,676,006 14,239,005 2.831.654
2,244,542
N ew O rl R y & L t ---------- S ep t 493,491
466,738
223,419
195,089
Ja n 1 to S ept 3 0 ______ 4,629,019 4,445,669 2,112,229 1.970,192
N Y C ity In te rb o ro u g h .a —
59,635
44,44?
A pr l t o Ju n e 3 0 ______
5,096
5.021
J a n 1 to Ju n e 3 0 _______ 103,493
78,835
2,724
3,106
N Y & L ong Isl T r C o. a —
95,672
88,556
A pr 1 to Ju n e 30 _______
30,425
33,107
J a n 1 to Ju n e 3 0 _______ 160,017
148,705
38,389
44,733
N Y & Q ueens C o .a —
A pr 1 to Ju n e 3 0 .............. 291,410
264,864
55,885
92,456
J a n 1 to Ju n e 30 _______ 507,837 455,210
29,158
73,528
N orf & P o rtsm T r a c .b . -S ep t 172,065
1 5 8 ,2 3 4
74,033
69,861
Ju ly 1 to S ept 3 0 _______ 557,798 512,671
252,213
226,799
P ad u cah T r & L t C o .b .- S e p t
21,251
19,096
9,987
8,201
P ensacola E l C o .b ______S ept
23,264
21,649
9,305
8,821
J a n 1 to S ept 3 0 _______ 199,464 184,050
81,642
79,179
P h ilad elp hia Co (and affiliated co s), a —
---------- 4,065,044
A pr 1 to S ept 3 0 ______ 9,516,886
61,937
P u g et S ound E l R y .b .- S e p t 160,545
719,956
72,351
503,673
J a n 1 to S ept 3 0 _______ 1,445,274 1,410,887
476,796
R ichm ond L t & R R .a —
39,977
A p r 1 to Ju n e 3 0 ______
84,310
85,585
28,883
64,268
J a n 1 to Ju n e 3 0 ______ 147,338
147,338
31,785
18,992
S avan n ah E lect C o .b ...S e p t
51,598
49,523
17,492
J a n 1 to S ept 3 0 ______ 468,183
451,818
162,829
158,639
S eattle E lect C o .b ______ S ept 481,158 568,494
206,453
263,153
S ta te n Isl M id la n d .a -r
A p r 1 to Ju n e 3 0 ._____
64,716
66,043
7,105
20,735
J a n l t o Ju n e 3 0 ---------- 108,347
109,015
5.031
19,339
T am p a E lect C o .b ----------S ept
44,969
47,108
21,059
19,855
J a n 1 to S ep t 3 0 ---------- 459,205
436,254
204,436
178,019
T h ird A ve R R S y s.a —
A pr l t o Ju n e 3 0 ---------- 2,173,557 1,927,454
704,816
580,013
J a n 1 to Ju n e 3 0 ---------- 4,045,491 3,565,744 1,146,213 1,096,096
Ju ly 1 to Ju n e 3 0 ______ 8,061,704 7,222,907 2,631,792 2,238,611
371,791
T w in C ity R T C o .b ------S ept 694,852 64 5,197
375,162
J a n 1 to S ept 3 0 ______ 5,620,369 5,176,420 2,932,262 2,743,852
112,627
U nion R y ,G & E (111).b S ept 241,764 224,313
107,783
Ja n 1 to S ep t 3 0 ______ 2,137,596 2,016,724
940,427
986,073
U nited R R s of San F r .b S ept 653.921 624,261
308,904
281,530
Ja n 1 to S ept 3 0 ______ 5,667,220 5,457,039 2,443,151 2,308,800
W h atcom Co R y & L t.b S ept
33,781
34,835
16,450
15,878
J a n 1 to S e p t 3 0 ______ 299,290
295,190
118,992
127,502
a N et earnings here given a re a fte r d e d u ctin g ta x e s,
b N et earnings here given a re before d ed u ctin g ta x e s.
In terest C harges a n d S u rplu s.

Roads.
b a n g o r R y & El Co-------- S ept
Ju ly 1 to S p et 3 0 ______
B aton R ouge Elec C o___S ept
B ingham ton S t R y —
O ct l t o Sept. 30.............
Brock & P lym S t R y ...S e p t
J a n 1 to S ept 30______

- I n t., R entals, & c.— — D al. o f N et E a rn s.—
C urrent Previous Current Previous
Y ear.
Year.
Year.
Year.
3
5
5
3
13,735
13,202
19,298
20,803
40,910
58,470
56,541
39,484
799
1,945
1,951
1.334
43,273
108,899
108,547
37.856
3,088
1,359
1,641
1,833
14,402
16,347
15,435
15,502

TH E CH RO NICLE

1242
C urrent
Roads.
Year.
$
B rooklyn R a p T ra n sit—
_______
A pr 1to Ju n e 3 0 ---------- 1,572,045
J a n 1to Ju n e 30----------- 3,127,560
Ju ly 1to Ju n e 3 0 ________ 6,218,515
Cape B reton El C o--------- S ept
6,148
■ J a n 1 to S ep t 3 0 ---------48,910
Clev P alnesv & E a s t..- S e p t
8,110
J a n 1 to S ept 3 0 ______
72,607
C olum bus E l C o------------- S ept 17,908
C oney Islan d & B rooklyn—
72,904
A pr 1to Ju n e 30_______
J a n 1to Ju n e 3 0 _______ 146,081
D allas E lect C o rp_______ S ept 26,013
Ja n 1 to S ept 3 0 ______ 234,183
El Paso E lect C o________ S ep t
8,216
Ja n 1 to S ept 3 0 ______
75,058
F t W ayne & W ab V a l-.S e p t
45,112
Ja n 1 to S ept 3 0 ---------- 405,554
G alv-H o usto n E l C o_____S ept 26,199
J a n 1 to S ept 3 0 ______ 210,240
G rand R a p id s R y C o ___ S ept 19,967
J a n 1 to S ept 3 0 ---------- 178,951
6,638
H o u g h to n Co T ra c C o --S e p t
57,361
J a n 1 to S ept 30 ---------H ud son & M an h a tta n —
A pr 1 to Ju n e 3 0 - ........... 574,698
J a n 1 to Ju n e 3 0 ---------- 1,137,423
Ju ly 1 to Ju n e 3 0 ______ 1,919,389
9,451
Jackso nv ille E lect C o— S ept
83,156
J a n 1 to S ept 3 0 ______
34,928
L ak e S h ore Elec R y ____S ept
J a n 1 to S ept 3 0 ______ 313,008
L ew iston A ug & W ’vllle S ept
13,784
Ju ly 1 to S ept 3 0 ---------41,182
L ong Islan d E lect—
„
•
8,400
A pr 1 to Ju n e 3 0 --------Ja n 1 to Ju n e 3 0 --------16,7o9
M ass E lect Cos—
_____
Ju ly 1 to S ept 3 0 --------- 459.512
O ct l to S ept 3 0 -------- 1,792,937
M etrop olitan S t R y Sys—
A pr 1 to Ju n e 3 0 --------- 684,736
Ja n 1 to Ju n e 3 0 --------- 1,367,096
Ju ly 1 to Ju n e 3 0 --------- 2,724,790
New Orl R y & L t C o .--S e p t 170,219
J a n 1 to S ep t 3 0 ---------- 1,588,753
N Y C ity In te rb o ro u g h —
A pr 1 to Ju n e 3 0 ---------23,760
J a n 1 to Ju n e 3 0 ---------44,600
N Y & L ong Islan d T rac Co—
16,484
A pr l to Ju n e 3 0 ______
J a n 1 to Ju n e 3 0 --------31,542
N Y & Q ueens C o unty—
62,896
A pr 1 to Ju n e 3 0 ---------J a n 1 to Ju n e 3 0 ---------- 125,784
62,857
N orf & P o rtsm T ra c ------S ept
Ju ly 1 to S ept 3 0 ---------- 194,298
7,126
P a d u ca h T r & L t C o------S ept
5,207
Pensacola E lect C o--------S ept
45.240
J a n 1 to S ept 3 0 ---------P h ilad elp h ia Co (and affiliated cos)—
A pr 1 to S ept 3 0 ---------- 2,250,074
P u g e t S o und E l R y _____ S ept 51,973
Ja n 1 to S ept 3 0 ______ 458,295
R ich m o n d L t & R R —■
24,470
A pr 1 to Ju n e 3 0 ---------48,929
J a n 1 to Ju n e 3 0 ---------18,157
S a v an n ah E lect C o---------S ept
J a n 1 to S ept 3 0 ______ 160,208
S ea ttle E lect C o---------------S e p t 110,933
S ta te n Islan d M idland—
13,410
A pr 1 to Ju n e 30 --------27,028
J a n 1 to Ju n e 3 0 --------6,018
T am p a E lect Co------------ S ept
45,299
J a n 1 to S ept 3 0 ---------T h ird Ave R R Sys—
A pr 1 to Ju n e 30--------- 233,433
J a n 1 to Ju n e 3 0 --------- 458,005
Ju ly 1 to Ju n e 3 0 --------- 871,935
T w in C ity R a p T r C o .. .S e p t 140,286
J a n 1 to S ept 30 ---------- 1,261,653
U nion R y G & E Co (111) S ept
66,981
Ja n 1 to S ept 30 ---------- 593,455
W h atco m Co R y & L t-- S e p t
9,084
J a n 1 to S ept 3 0 ---------78,707
x

tals, &.c. —
P revio u s
Y ea r.

o f N et E a rn s . —
P rev io u s
C u rrent
Y ea r.
Y ea r.

— B a l.

5
?
%
1,332,252 £509,262 £252,874
£10,766
2,682,497 £430,451
5,351,222 £1,422,423 £641,830
6,342
9,574
6,281
23,598
49,829
48,914
6,299
7,364
7,850
46,021
57,728
67,690
564
4,618
12,711
£80,640
£def20,805
70,205
£97,128
140,619 £def37,781
7,949
18,253
25,109
82,232
92,476
251,861
12,442
15,247
8,185
94,418
119,597
71,997
19,000
16,076
42,672
48,366
90,258
381,445
21,650
20,638
22,824
177,725
163,998
192,225
35,469
29,064
18,958
242,290
261,935
170,771
8,487
7,419
6,216
56,937
54,530
53,788
£17,301
£75,400
165,184
£18,347 £119,909
330,368
£19,291
659,894
£64,369
9,522
9,388
8,046
65,080
83,610
110,477
34,804
25,664
23,561
86,277
309,093
127,490
10,660
14,152
11,366
47,782
44,228
42,590
£5,947
8,462 £def9,200
16,981 £def24,246 £def4,387
904,604
847,626
432,374
1,778,129 1,407,717 1,125,830
668,200zdef232,451 £518,340
1.379.708xdef275,255 £510,176
2,729,083 £299,530£def329,715
22,903
47,200
172,180
417,440
523,476
1,552,752
19,040 £ d efl8 ,3 10 £d efl3 ,7 88
37,160 zdef41,249 £def33,727
£16,178
£14,064
16,993
£12,177
£7,031
32,684
£26,361
66,256 £def7,076
132,814 £def97,255 £dcf5 9,l 16
6,803
11,177
63,058
37,272
57,914
189,527
1,588
2,861
6,613
4,486
4,098
4,335
36,402
40,126
39,053
£1,753,503
23,799
9,964
48,552
54,536
45,378
422,260
£8,402
£17,132
24,581
48,777
£18,581 £ d e fll,7 6 7
48
835
17,444
3,388
2,621
155,251
156,209
95,520
106,944
7,372
13,363 dcf6,305 def7,507
26,846 d ef2 1,997
15,240
15,041
4,615
159,137
136,836
41,183
£459,695
260,127 £350,133
493,713 £702,053 £618,657
919,309 £1,785,711 £1,344,700
234,911
231,505
140,251
1,248,510 1,670,609 1,405,342
38,891
45,646
68,892
395,495
346,972
590,578
7,809
7,366
8,069
53,213
74,289
40,285

ecelved.
A fter allow ing for o th e r Incom e received.

EPO RTS.
to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month. This index will
include reports in the issue of the “ Chronicle” in which
it is published. The latest index will be found in the issue
of Oct. 29. The next will appear in that of Nov. 2G.

not

C h icago B u rlin g ton & Q u in cy R R .

{Report for Fiscal Year ending Jxine

30 1910.)
The annual report of this company for the fiscal year
1909-10 is given on subsequent pages, embracing the re­
marks of President Darius Miller, comparative income ac­
count, traffic and mileage statistics for two years, and also
the detailed balance sheet.
Owing to the fact that the income account is made up on
a new basis, excluding the Quincy Omaha & Kansas City
R R ., and that the balance sheet is also in a new form in
accordance with the requirements of the Inter-State Com­
merce Commission, the usual tables are here omitted.
— V. 91, p. 1024, 517.



lVOL. LXXXXI,

Y a z o o & M ississip p i V a lley R R .

(Report for Fiscal Year ending June 30

1910.)
The report of President Harahan is given at length on
subsequent pages; also detailed operating income and ex­
penses for two years, and the income account for the late
year, balance sheet for two years and important tables, in­
cluding comparative traffic "results, expenditures for addi­
tions and betterments during the year, &c. Below we give
comparative traffic statistics and income account for three
years.
T R A F F IC S T A T IS T IC S .

1909-10.
1908-09.
1907-08
1,371
1,371
1,298
A verage m iles o p e ra te d _________
O perations —
R even ue passengers c arried _________ 3,160,957 2,820,286 2,741,912
R even ue passengers carried one m ile 95,471,694 88,206,442 82,497,568
R a te per passen ger per m ile.................. 2.326 cts. 2.333 cts. 2.473 CtS.
R even ue freigh t (to n s).............................. 5,323,646 4,898,203 5,166,820
. .
R even ue freigh t one m ile (to n s)_____ 967,101,375 867,395,815 938,017,625
R a te per ton per m ile__________ ______ 0.730 cts. 0.808 c ts. 0.749 c ts.
Gross Incom e per m ile_______________
$7,573
$7,321
$7,782
IN C O M E A C C O U N T .

1907-08.
1908-09.
R evenues —
1909-10.
F reig h t - ____________
$7,062,067 $7,010,300 $7,029,208
P asseng er____________________________ 2,220,986 2,059,703 2,040,040
511,386
600,340
656,290
M all, express and m iscellaneous_____
517,757
364,014
R e n t of trac k s, hire of e q u ip m e n t, &c.
444,807
G ross o p eratin g Incom e___________ $10,384,150 $10,035,257 $10,098,391
TPgr'npn /? e— —
M aintenance of w ay a n d stru c tu re s. . $2,091,592 $2,042,511 $1,901,770
M aintenance of e q u ip m e n t--------------- 1,842,173
1,665,464 1,444,762
T raffic expenses_____________________
197,642
190,836
195,650
T ra n sp o rta tio n exp en ses____________ 3,285,319
3,748,212 3,933,514
G eneral exp en ses_____________________
281,490
287,272
294,212
R e n t of trac k s, hire of e q u ip m e n t, &c
803,131
644,837
889,523
430,338
436,943
413,186
T a x e s ________________________________
$8,931,685 $9,016,075 $9,072,617
$1,452,465 $1,019,182 $1,025,774
1,750
1,750
1,750
I n t. on securities in pension fu n d -----$1,454,215 $1,020,032 $1,027,524
$1,228,297 $1,213,270 $1,346,033
12,740
20,943
In te re st on dem an d n o tc .
T o ta l Interest charg es.........................$1,249,240 $1,226,010 $1,346,033
B alance, su rp lus or d e llc lt_________su r.$ 2 0 4 , 9 7 5 def.$205,078 dcf.$318,509
— V . 89, p. 1008.
v

St. L ou is & San F ra n cisco R R .

(.Report for Fiscal Year ending June 30

1910.)
The text of the report is given on a subsequent page;
also comparative tables of earnings and operations and
balance sheet for two years past, &c. Below are compara­
tive operating statistics and income account for several years:
The figures do not include the New Orleans Texas & Mexico
division lines, 938 miles, which are operated separately.
T R A F F IC S T A T IS T IC S .

1909-10.
Miles operated (average)
5,072
E q u ip m en t —
947
L ocom otives .....................
579
Passenger eq u ip m en t___
27,899
F reig h t eq u ip m e n t_____
2,692
C om pany cars, &c____ .
O perations —
*Passengers _____________
carried _____ 10,413,792
P assengers carried I m lle477,089,090
R a te per pass, per m ile, 2.21 cts.
“R ev. freigh t (tons) car’d
-- 17,829,713
--------------R evenue freigh t (tons)
carried one m ile_____ 2829482793
R a te per ton per m ile___ 0.977 cts.
A v. traln -lo ad (rev .)to n s
223
E arn , per pass, train m .
$0.9951
$2,178
E arn , per fr’t train m ___
$8,116
Gross earnings per m ile.

1906-07.
1907-08.
5,062
5,064
5,07 3
863
007
904
461
536
531
26,702
29,984
26,615
2,412
2,688
2,677
28,18 3 7,453,409
10,534,196 8,4
__________
.
467,385,711 414,178,289 357,891,225
2.05 cts.
2.15 cts.
2 .o 6 c ts .
15,952,144 15,275,619 16,154,154
2518944746 2465448295 2658150453
1.003 cts. 0.072 cts. 1.010 c ts .
224
221
212
$1.0455
$0.9976
$0.9934
$2,240
$2,215
$2,065
$7,630
$7,443
$7,070

IN C O M E A C C O U N T .

1007-08.
1908-09.
1909-10.
O perating revenues —
F reig
ht
$27,645,803 $25,202,516 $23,976,297
p a s s e n g e r : : : : : : : : : : : : . _____________________ 1 0 , 5 4 8 . 9 7 0
0 ,0 0 3 ,3 4 0
8 ,0 2 7 .0 3 7
M all, express an d m iscellaneous______ 2,694,058 2,657,088 2,660,229
O ther th a n tran sp o rta tio n rev en u e ____
276,148
234,042
236,569
T otal operating rev en u e____________ $41,165,939 $37,756,986 $35,806,132
O perating expenses—
M aintenance of w ay an d stru c tu re s____ $5,778,268 $4,987,633 $4,671,416
M aintenance of e q u ip m e n t.................... 5,940,310 4,506,862 4,550,107
833.679
873,292
T raffic expenses.......................................
1,036,821
T ra n sp o rta tio n exp en ses_____________ 14,698,094 13,103,878 13,663,633
G eneral expenses........................................... 1,223,348 1,108,426 1,279,450
T o tal o p erating expenses----------------$28,676,842 $24,760,001 $25,007,286
$10,798,846
N et o p erating rev en u e-----------------------$12,489,097 $12,006,805
1,532,149 ___________
048,414
T axes . ............................................................... 1.458,180 ____________
O perating Incom e................................... $11,030,911 $11,464,740 $0 850.432
OH utside
eratio
s— ---------------------- D r. -------------il«c
ire of eqo up ip
m e nnt ......................................
000,988 D_ r. 260,086 D r. 455,145
O ther Incom e.....................................
2,910,417 1.715,112 1.950,142
T o tal Incom e...........................................................................$13,331,340 $12,019,772 $11,313,350
D e d u c t—
___
$6,118,752
I n t e r e s t ______________________________ $7,447,806 $6,517,319
2,564,203
I n t. on gu aranteed securs. (re n ta l). . 2,594,391 2,591,631
661,563
536.446
O ther ren tals an d sinking fu n d s__________________ 627,302
D ividends on tru st certificates—
...
540,400
540,400
K an. City F t. S cott & M em phis R y
540,400 1,094,482
1,094,482
Chicago & E astern (Ulnols R R -----199,742
199,742
D ividends on pref. sto ck (4 % )---------109,742
$11,605,138 $11,054,026
T
otal
ded
u
ctio
n
s___________________
^^fnS
***?*
$250,324
B alance, su rp lu s_____________________ $ 9 2 2 , 2 1 7 $1,314,634
— V . 91, p. 590, 337.

Evansville & Terre Haute RR. (incl. Evansv. & Ind. RR. Co.)

(Report for Fiscal Year ending June 30 1910.)
President B. L. Winchell, Chicago, Oct. 1 wrote:

T he resu lt from op eratio n show s an Increase In gross rev en ue of $377,178;
or 18% . T he op eratin g expenses, exclusive of tax es, show an Increase of
$200,981, or 15.2% .: of this Increase 50% Is du e to heav y renew als of ties
an d to general trac k a n d equ ipm en t ex p en ditu res T he surp lus for th e
year a fte r all charges w as $389,683. being equal to 5% on o u tsta n d in g pref.
sto ck a n d 8.25% on o u tsta n d in g com m on sto ck . H n S ep t. 1909 th e dlvl
dend ra te of th e com m on sto ck w as Increased from 4 % to 57 o . ^om puru
V . 91, p. 654.— Ed.]
E q u ip m e n t notes for $160,000 h av e been paid .
T o ta l tra in m iles Increased 92,505 m iles, or 8 % , a n d loaded car m iles
Increased 1,433,596 m iles, or 19.3% M erchandise sh ipm en ts w ere greatly
Increased, w ith correspondlpg Increase In sta tio n a n d frelghfc-housc labo r.

Nov. 5 1910.

T H E CH RONICLE

546.4 ton s of new 85-Ib. steel rail and 213.6 tons of relay 70-lb. steel rail
a n d 38 to n s of 67-lb. steel rail w ere laid; 148,469 cross-tlos a n d 87 sets of
sw itch-ties w ere renew ed. Of th is nu m b er 92% w ere tre a te d ties, balance
first-class w hite oak ties. On Ju n e 30 a b o u t 26% of th e to ta l ties In trac k
w ere tre a te d ties. 9.9 m iles of w oven w ire fence w ere con stru cted .
O P E R A T IO N S , E A R N IN O S , & C ., IN C L U D IN G E V A N S V IL L E &
IN D IA N A P O L IS .
1907-08.
1908-09.
1909-10.
310
310
T o ta l m iles o p e ra te d ________________
310
O perations—
840,992
841,767
P assengers c a r r ie d ___________________
904 ,667
Passengers carried one m ile__________ 32,989 ,772 30,322,851 29,593,306
1.92 cts.
1.93 cts.
R a te p e r passenger per m ile_________ 1.90 cts.
,478 2,738,948 3,066,837
R even ue freig h t (tons) c arried ______________ 3,406
R even ue freigh t (tons) 1 m ile________ 166,975 ,726 120,497,160 144,096,660
1.00 Cts.
1.03 Cts.
R a te p er to n per m ile________________ 0.96 cts.
$ 1,020
P asseng er earns, (all) per train m ile. $1,041
$2,713
$2,735
$2,982
F reig h t earnings per tra in m ile______
$0,746
$7,100
G ross receipts p er m ile_______________
$7,961
IN C O M E A C C O U N T .
1908.
1909.
Operating revenues—
1910.
F reig h t _______________________________ $1,605,255 $1,298,014 $1,439,498
581,299
570,403
P assen g er_____________________________
028,227
195,719
179,447
M all, express a n d m iscellaneous__________________ 221,275
18,965
14,721
O ther th a n tra n sp o rta tio n ------------------16,418
T o ta l________________________________ $2,471,175 $2,093,997 $2,204,069
O perating expenses—
$268,210
$287,064
M aintenance of w ay an d s tr u c tu r e s ... $289,067
269,082
303,230
M aintenance of eq u ip m e n t----------------- .. 347,005
61,718
46,366
39,463
T raffic expenses______________________
663,532
T ra n sp o rta tio n expenses---------------------. 748,698
679,570
74,774
80,397
G eneral expenses----------------------------------. 76,457
$1,522,945 $1,321,964 $1,389,723
. $948,230
$772,033
$814,346
N et C£
. 119,960
110,142
T axes
104,278
. $828,270
$661,891
$710,068
d e b .10,208 d e b .3,531
17
H ire of cq u lpm en t. 120,788
72,508
236,088
O th cr Incom e---------. 48,022
44,987
47,007
. $986,872
$991,160
$777,874
$577,440
$588,396
. $588,780
14,608
R e n ta ls--------------------------------------- ---------.
14,362
10,411
61,197
* D ividends on preferred sto ck (5?o) _ _. 61,200
61,200
i%) 199,105 (4)159,284 (4)159,326
T o tal d ed u ctio n s_________ _
$865,496
$823,242
$812,571
B alance ____________________________ sur.$121,376 def.$45,368 sur.$178,589
* T he dividends a rc charged by th e com pany ag ain st p ro llt an d loss, b u t
a rc here ded u cted from Incom e acco unt for th e sake of sim plicity.
G EN ERAL B ALA N C E SH E E T JU N E 30.
(Including Evansville & Indianapolis.)
1910.
1909.
1909.
1910.
L ia bilitiesAssets—
S
$
$
S
Road and equip.alG ,065,819 16,057,810 Common stock__ 3,987.383 3,987,383
Stocks owned___ 6108,785 6108,785 Preferred sto c k ... 1,283,333 1,283,333
Cash ....................... 448,106 654,925 Mtge. bds. In treas. 30.000
Bonds outstanding 9,470,000 9,75l",666
Cash to red’m bds. 30,000
Securities In treas. 92,457
62,457 Equipm ent trusts. 920,000 1,080,000
M arketable stocks 345,994 345,994 Vouchers A wages 178,532 112,410
Loans A bills rec’le 141,484 101,423 M at’d lnt.,dlvs., Ac , 171,706 171,574
Traffic, Ac., bals. 77,364
53,335 Matured b o n d s... 30.000
Agts. & conductors 77,128
46,314 Mlsc. accounts.. .
33,510 '297190
76,669
M at’ls & supplies. 114,149 153,220 Accr.lnt.,dlvs.,&c. 67,813
Miscel. accounts.. 117,854 132,074 Taxes accrued___ 109,884 103,995
24,699
Advances, Ac___
49,894 Operating reserves 20,448
906
11,603
Prepaid Ins., A c ..
4,504
3,229 Oth.def.cred.Items 23,757
O th.def.deb. Items
887 Profit and loss___ 1,300,700 1,138,492
2,216
T o ta l................... 7,627,066 17,770,348
a After deducting reserve for accrued depreciation, $51,664.
6 Includes stocks of proprietary, affiliated and controlled companies, pledged, $1,
and unpledged, $108,784.— V. 91, p. 654.
Chicago & Eastern Illinois RR.
30 1910.)

{R eport fo r F isca l Y ea r ending J u n e

Pres. B. L. Winchell, Chicago, Oct. 1 1910 wrote in brief:

General.— T he results of op eratio n w ere: T o ta l o p e ra tin g revenue In­
creased $1,480,736, o r 14 .4’% : op eratin g expenses Increased $1,019,450, or
14.7% ; n e t op eratin g revenue Increased $461,286, or 13.8% . T he surp lus
for th e y e a r, a fte r pay m en t of dividends (6% on pref. an d 8% on com m on
sto ck ), w as $68,524.
T he Increase In to ta l op eratin g revenue w as $1,480,737, d istrib u te d as
follows: Increase In m ain ten an ce acco unts, $538,837; Increase In tra n s­
p o rta tio n , traffic an d ad m in istratio n expense, $480,613; Increase In n e t
o p e ra tin g revenue, $461,286. A little m ore th a n 31% of th e to ta l Increase
w as saved for th e n et op eratin g rev en ue, a n d th e su rp lu s av ailab le for
div idend s Increased 69% .
T he cost of engine fuel an d of y ard service c o n stitu te *th e largest Item s
In th e Increased cost of m o vem en t, th e ratio of tra n sp o rta tio n expense to
to ta l op eratin g revenue show ing, nevertheless, a decrease of .54 of 1% .
T ons of all freigh t per tra in m ile w ere 592.51, a n Increase of 17.71, w hile
to n s p er loaded freigh t car m ile rose to 30.40.
Balance Sheet.— T here w as no change In th e cap ital stock; th e m ortgage,
bonded and secured d e b t show s a decrease of $281,058 an d th e w orking lia­
bilities decreased $606,433.
R ates.— If th e average passenger a n d freigh t rate s received du rin g 1900
h ad been applied to th e traffic of this p a st fiscal y e a r, yo u r revenues w ould
h av e been larger by $1,295,988; or If th e rate s of 1907 had o b ta in e d , yo u r
earnin gs w ould have been $1,001,143 g reater.
Im provem ents, M aintenance, & c.— New culv erts (lineal ft., tran sv erse
to tra c k ), Iron pipe, 1,485; box culv erts b u ilt, 94. Miles of roadbed
w idened to sta n d a rd w idth , 5.55. T ies renew ed, 303,815, o r an averag e
per m ile of m ain, second and th ird trac k of 302. In a d d itio n to th e 23.18
m iles of 85-lb. rail laid to rep lace rails of less w eight, 7.92 m iles w ere laid
to rep lace w orn rails of siim c w eight. 2,897 lineal ft. of tim b e r trestles
hav e been replaced w ith heavier tim b er stru c tu re s, an d o th e r existing bridges
hav e been strength en ed to provide for heavier equ ipm en t now In use. In
rep lacin g bridges an am o u n t equal to th e cost of original stru c tu re s or esti­
m ated cost of renew ing them In kind has been charged to o p e ra tin g ex­
penses: 109.3 lineal ft. of tim b e r bridges w ere replaced w ith steel and
1,751.3 ft. hav e been filled.
W E IG H T OF R A IL I N T R A C K ( M A I N , SE C O N D & T H IR D ) J U N E 30.
Total.
85-lb. 80-lb. 75-lb. 72-lb. 70-lb. 65-lb. 60-lb. 56,Ac
1910 (m ). 1,005.22 218.15 342.78 2.64 18.01 13.21 144.27 246.01 20.15
1009 ( m ) .1,005.22 194.97 349.74 2.64 18.23 13.29 148.88 254.49 22.98
O P E R A T IO N S , E A R N IN G S , E X P E N S E S , &C.
1909-10.
1908-09.
1907-08.
1906-07.
Miles o p erated Ju n e 3 0 .
066
966
957
948
fm operatlons—
Passengers carried , N o . 3,028,915 2,843,347 2,899,233 2,561,398
P ass, carried 1 m ile, N o-106,702,887 95,575,122 95,670,423 80,371,192
R a to per pass, per m ile. 1.75 cts.
1.74 cts.
1.76 cts.
2.04 cts.
R ev . fg t. (tons) carried . 12,136,843 10,080.499 11,273,436 11,943,138
do do
1 m ile-1993794398 1682097015 1831277819 1940963492
R a te p er ton p e rlm lle .. 0.46 cts.
0.48 cts.
0.47 cts.
0.48 cts.



124 3

IN C O M E A C C O U N T..
1908-09.
1907-08. 1
1909-10.
$
$
$
. . . 9,258,496 8,005,583 8,523,387
1,666,981 1,680,303
M all, exp ress an d m iscellaneous! . . .
518,734
486,503
563,923
78,321
52,538
60,762
10,269,619 10,742,731
Operating E xpenses—
994,710 1,205,711
. . . 1,153,929
. . 2,043,377 1,663,759 1,609,704
T raffic expenses.
197,295
...
267,412
210,011
T ra n sp o rta tio n ei
. . . 4,096,671 3,635,686 3,926,535
G eneral expenses.
430,367
415,547
. . . 7,953,984 6,934,534 r , 354,792
P . C. expenses to earnings!
...
(67.69)
(68.46)
(67.53)
3,335,085 3,387,939
T axes
274,114
358,587
3,060,971 3,029,352
d e b .19,942 d e b .8,846
H ire of eq u ip m en t61,995
401,449
o th e r Incom e______
596,897
543,551
. . 4,176,870 3,646,574 4,018,851
2,179,801
R e n ta ls_______________________ ! . . . 2,229,077 2,192,172
702,823
759,231
D Ivs. on preferred sto ck (6% ).
529,842
529,842
..
529,842
. . (8)577,424 (2)144,356 (10)721,780
-- 4,108,346 3,625,601 4,134,2
sur.20,973 def. 115,394
B A LA N C E SH E E T JU N E 30.
1910.
1909.
1910.
1909.
Assets—
$
S
Liabilities—
$
$
Road and equlp.a57,819,090 57,794,041 Common sto c k ..d l3 ,626,100dl3,626,100
Securities owned.bl,102,232 2,513,232 Preferred sto ck .. .d 8 ,992,000 d8,992,000
Other Investments c208,552 177,552 Funded debt___ f48,547,290 48,828,348
Cash ....................... 1,006,947 1,153,842 Loans & bills pay . 500,000 1,425,000
Securs. In treasury 423,000 817,000 Traffic, Ac., b a l.. 250,421 127,039
M arketable secur’s 257,806 183,635 Vouchers A wages 1,241,027 1,033,439
Loans & bills rec. 437,077 286,745 M atured lnt , &c. 59,331 312,318
Traffic, Ac.. bals. 317,531 204,477 Miscel. accounts.. 377,646 137,062
Agts. & conductors 327,579 237,916 Acer.lnt.,dl vs.,Ac. 713,193 676,957
M at’l & supplies.. 1,038,243 1,061,574 Taxes accrued___ 221,345 188,400
Mlsc. acco u n ts... 610,250 503,345 M iscellaneous___ Us
169
169
Disc, on securities 1,164,186 688,070 Operating reserves 179,325 164,120
Special deposits.elO,578,092 10,578,092 Oth.def.cred .Items V 259,047 172,634
Oth.def.deb. items 487,232 289,022 Profit and loss___ ' 810,923
804,957
T o ta l..................75.777,817 76,488,543 Total ...................75,777,817 76,488.543
a After deducting S144.953 reserve for accrued depreciation, b Securities owned
Include In 1910 securities Issued or assumed, pledged, $729,000. and securities of
proprietary, affiliated and controlled companies, unpledged, S373.232. c Miscel­
laneous Investments Include In 1910 physical property, $208,551, and securities un­
pledged, $1. d Of these, $6,408,300 common and $161,300 pref. Is treasury stock
held In trust by T rust Co. of America, e Of this, $6,559,600 consists of common
and pref. stock (see V. 85. p. 1001); balance sundry Investments, f Includes m ort­
gage bonds In treasury (pledged or unpledged), $1,152,000 In 1910, against $2,957,­
000 in 1909.—V. 90, p. 559.
Operating Revenues—

Chicago Great Western Railroad.
30 1910.)
President S. M. Felton says in substance:

{R eport for Ten M onths ending J u n e

Operating Revenue.— T he to ta l o p e ra tin g revenue for th e 10 m o s., as
com pared w ith th e sim ilar period of th e receivers’ o p eration s In 1908-09,
show an increase of $1,182,975, o r 13.16% . T his rev en ue Is th e largest In
th e h isto ry of th e p ro p e rty .
T he freigh t revenue for th e 10 m os. Increased $920,165, or 14.47% . T he
ton s one m ile of revenue freigh t Increased 10.76% . T he rev en ue p er to n
per m ile w as 7.16 m ills, com pared w ith 6.93 m ills, du e to variatio n s In
length of hau l an d to tra n sp o rta tio n of larg er to n n ag e of high-class com m odi­
ties. T he rev en ue per fre ig h t-tra in m ile Increased from $2 17 to $2 55, or
17.51% . P assenger traffic Increased $172,465, or 8 .7 6 % . T he revenue
passengers carried one m ile Increased 4.0 9 % ; rev en ue per passenger per
m ile w as 1.866 cents, an Increase of .038 cent; to ta l rev en ue per passengertra in m ile Increased from $0 83 to $1 05, or 2 6 .51% . T hese resu lts have
been a tta in e d n o tw ith stan d in g a decrease In p assen ger-train m iles of
402,286, or 13.51% .
E xpenses.— T he tran sp o rta tio n expenses w ere hig h, du e to an exception­
ally severe w inter, th e coal-m iners’ strik e w ith Its abn o rm ally high price
for fuel, th e sw itchm en’s strik e a t S t. P aul an d M inneapolis, th e Im prove­
m en t w ork w hich Im peded th e econom ical han dling of train s, rap id ex p an ­
sion of business tax in g th e c o m p an y ’s facilities, a n d Increased w ages.
T he Im provem ents In progress should soon a d m it of su b sta n tia l red uction s
In tran sp o rta tio n expenses, su b je c t, how ever, to Increases In th e cost of
la b o r and m aterial. T he red u ctio n in n u m b er of passenger train s ru n
clfected a savin g of 402,286 passcn ger-traln miles and an estim ated saving
In tran sp o rta tio n expenses alone of $165,600. If th e S eptem b er price for
fuel had prevailed th ro u g h o u t th e ten m o nth s, th e to ta l expense for loco­
m o tive fuel w ould h av e been $227,700 less th a n It w as. T he estim ated
ad d itio n al ann ual ex p en d itu re th ro u g h th e Increase In w ages a lre a d y In
effect Is $175,000; req uests for fu rth e r Increases now u n d er consideration
w ould. If g ra n te d , cause an estim ated ad d itio n al a n n u al expense of $300,000.
H ire o) E quip m en t.— T he rap id expansion of th e business caused p ay ­
m en ts In excess of receipts for hire of equ ipm en t of $145,193. W ith th e
equ ipm en t as a t present it Is exp ected th a t b e tte r results w ill be show n.
R a te s . —N o tw ith stan d in g the large Increase In gross re v ..th e Increased cost
of o p eration s a n d th e consequent sm all m argin of n e t profit m ad e It a p p a r­
e n t th a t th e tran sp o rta tio n rate s charged by th e com pany w ero n o t com ­
p en sato ry for th e service ren dered , an d w ould n o t p e rm it th e com pany
a d e q u ate ly to Im prove Its service an d p ro p e rty , give prop er retu rn s to Its
stockholders, a n d build up a needed su rp lus thro u g h ensuing years. I t
w as, therefore, so ugh t to Increase tra n sp o rta tio n rate s. T he case Is pending
a t this tim e belore t lie lin e r S ta le O ) ) <ice C .mu lsslon.
Trackage.— On N ov. 29 1909 co n tra c ts w ere canceled covering 64.94
m iles of track ag e, nam ely: Stillings to K ansas C ity, M o., via L eaven w o rth ,
38.25 miles; W aterloo to D enver Ju n c tio n , la . (leased from W aterloo C edar
Falls & N o rth e rn R y . Co. for freigh t business on ly ), 16.37 m iles; S t. P aul
to M inneapolis (N or. P ac. R R .), 9,80 m iles; o th e r, 0.52 m iles.
On th e sam e d a te co n tra c ts w ere en tered Into for track ag e rights, aggre­
g atin g 38.21 m iles, viz.: B everly to K ansas C ity, M o., via. C. B. & Q. R R ..
26.74 miles; a t B everly (C. R . I. & P a c .), 0.14 m iles; S t. P aul to M inneap­
olis (G reat N orthern R y .), 9.92 m iles; a t K ansas G lty, Mo. (If. C. So.
R y .), 1.41 m iles. T he C. B. & Q . track ag e w as a te m p o rary a rran g em en t.
A p e rm an en t c o n tra c t w ith th e Mo. Pac. R y . Co. an d th e pu rch ase of th e
sto ck of th e L eavenw orth T erm in al R y . & B ridge Co. w ere con sum m ated
A ug. 1 1910 (V. 91, p. 397; V . 89, p. 1597). T h e changes In th e K ansas
C ity line reduced th e to ta l d istan ce betw een B everly an d K ansas C ity from
38.25 m iles to 30.18 m iles: th e m axim um grade, castb o u n d , from 1.4% to
0.4 % ; th e m axim um grade, w estbo und , from 1.4% to 0 .3 % . T he c o n tra c t
for track ag e b etw een L eaven w o rth , K a n ., an d K ansas C ity,M o. (30.18
m iles), expires A ug. 1 2009: It affords connection w ith th e Im p o rta n t freigh t
term inals and elev ator p ro p e rty a t K ansas C ity ow ned by th e com pany ,
w ith th e passenger term inals now occupied, a n d w ith th e fu tu re new
U nion passenger sta tio n .
Reconstruction and M aintenance oj W ag and Structures.— T he w ork of
recon struction req uisite for econom ical o p eratio n has m ad e su b sta n tia l
progress, th e recon struction an d m ain ten an ce d u rin g th e te n m o nth s ended
Ju n e 30 1910 including: T rack re-b allasted , 148.49 m iles, of w hich 1 3 2 ^
w ith gravel; bridges, trestles a n d culv erts reb u ilt o t replaced, 3,870 lln. ft.;
roadb ed w idened an d grades rectified, 154.62 m iles; d itch ing, 115.30 trac k
miles; cu ts w idened, 327; m aterial m oved, 325,900 cu. y d s.; tra c k re-laid
w ith new 85-lb. rail, 118.35; cross-ties p u t In trac k (treated ties, 120,702;
u n tre a te d , 396,489), 517,191, equ al to 179.58 m iles of trac k .
U nd er th e rules of th e In te r-S ta te C om m erce C om m ission th e exp en di­
tu re s m ad e necessary by d ep reciatio n , w hich w as w holly due to conditions
prb>r to S ent. 1 1909 are included as reh ab ilita tio n charges In the "A d ditio ns
a n d B e tte rm en ts" exp en ditu res rep o rted below. F u n d s for these cxpendlures w ere provided for In th e organ ization plan . [The rep o rt con tain s
c h a rts an d sta te m e n ts Illustratin g th e physical ch aracteristics of tlic p rop­
e rty on Ju n e 30 1910 ]

1244

T H E CH RO NICLE

A D D IT IO N S A N D B E T T E R M E N T S F O R T H E T E N M O N T H S .
(A d dition s $4,534,995; reconstruction $2,422,184).
R oad Im provem ents—
A dd itional m ain trac k ($69,540) a n d sidings a n d sp u r trac k s- $99,353
B allast, $72,458 (“ a d d itio n s," $6,481); bridges, trestles a n d cul­
v e rts, $82,764 (“ a d d itio n s.” $4,498)__________________________ 155,222
R eco n stru ctio n ot roadbed a n d trac k (all “ reco n stru ctio n ” ) ____ 1,282,764
Shops, sta tio n s, w ater anil fuel sta tio n s ($71,600 "ad d itio n s” ) . . 165,177
T erm in al y a rd s (all " a d d itio n s” ) _________________________________ 1,668,798
O th er road Im provem ents, n et ("a d d itio n s,” $47,029)_________
67,257
R olling sto ck (“ a d d itio n s,” $2,641,282; reco n stru ctio n , $877,325) 3,518,607
C H ARAC TERISTIC S OF L IN E JU N E 30 1910.
Total
Curved Tangent Level
---- Ascending—-----Descending----Miles. Miles.
Miles.
Miles. Sum in Feet. M iles. Sum in Feet. Miles.
1,403.89 302.06 1,101.83 230.44 15,868.2 559.62 16,162.7 613.83
COM POSITION OF TR AC K (1,445.41 Miles, incl. 41.52 2d Track).
-------------- Miles of Ballast--------------- -----------------------Miles of Rail----------------------Rock. Gravel. Cinders. Earth. 50-lb. 56-lb. 60-lb.
75-lb. 85-lb.
86.52 1,145.81 80.58
132.50 22.87 100.83 251.12 689.17 381.41
E quip m en t.— T he equ ipm en t on S ep t. 1 1909 w as In poor condition: 88
locom otives, 4,269 freight cars a n d 93 passenger cars w ere on h an d on th a t
d a te req uiring h eavy rep airs or reb uild ing. T hroug h th e p a st year th e
llg h t-cap aclty cars hav e been retired from rev en ue service an d are being
c ith er sold or placed In tem p o rary w ork service. T he eq u ipm en t retained
for revenue service was ta k e n Into th e shops for rebuilding as rap id ly as
possible. T his w ork, how ever, w as n o t com pleted a t th e close of th e llscal
y e a r. T w en ty sta n d a rd C onsolidation engines, w eighing 187,000 lbs. on
drivers a n d w ith a trac tiv e pow er of 46,500 lbs., w ere delivered an d 20 w ere
u n d e r c o n tra c t a t th e close of th e y ear. To h an dle train s on th e 1% grade
th e com pany will have 10 M allet englncs, w eight 310,000 lbs. on th e drivers,
tra c tiv e pow er 81,000 lbs.
T he averag e ex p en d itu re for rep airs a n d rebuilding w as $2,211 per loco­
m o tive ow ned; per passenger car ow ned, $1,135; per freigh t car ow ned,
$74 51. T here w ere sold or destroy ed 24 locom otives a n d 716 cars a n d
th e re w ere pu rch ased 24 locom otives a n d 2,793 cars. T he follow ing new
eq u ip m en t, u n d er c o n tra c t, had n o t been delivered up to Ju n e 30 1910:
46 locom otives, 10 M allet, 20 C onsolidation, 6 10-whecI passenger a n d 10
sw itch; 21 passen ger-train cars a n d 488 freigh t a n d w ork cars.
J u n e 30 Inc.
J u n e 30 Inc.
Total E quip m en t— 1910.
%
Total E quip m en t— 1910.
%
L o c o m o tiv e s_________ 3 /0 -------- F reig ht train c a rs____12,599 16.23
A v. cap ac. (tons), ex­
T o ta l tra c tiv e pow er
31 10.66
(to n s)______________ 3,933.4 11.56 cluding cabooses). .
P assen g er-train c a r s ..
176 1,13 R oad service c a rs____ 700 83.73
Term ina ls. — A r e d u c tio n In t h e m in im u m le n g th o f r u n s h a s m a d e n e c e s ­
s a r y n e w te r m in a l t a c llltle s a t S t o c k s n , III., a n d a t C o n c e p tio n . M >.
T h e c o m p a n y h a s p u r c h a s e d th e fr e ig h t-h o u s e te r m in a ls a t S t . P a u l a n d
M in n e a p o lis a n d th e te r m in a l y a r d s a n d f a c ilit ie s a t B o o m I s la n d , M in n e a p ­
o lis , fo r m e r ly b e lo n g in g to th e W is c o n s in C e n tr a l I ty . C o ., w h ic h fu r n ish
fr e ig h t-h o u s e fa c ilit ie s a t S t . P a u l a n d M in n e a p o lis e q u a l to th o s e o f a n y
o th e r r a ilr o a d c o m p a n y . T h is p r o p e r ty c o v e r s 2 9 .1 9 a c r e s o f g r o u n d a n d
I n c lu d e s 1 0 .1 6 m ile s o f tr a c k a g e .
Second T rack. — T h e p la n fo r a d d itio n a l s e c o n d m a in tr a c k c o n t e m p la t e s
a s tr e tc h o f s e c o n d m a in tr a c k fo r a d is ta n c e o f a t le a s t 10 m ile s o u t o f Im ­
p o r t a n t te r m in a ls . T h e t o t a l le n g th o f a d d itio n a l s e c o n d m a in tr a c k u n d e r
c o n s tr u c tio n th is y e a r is 2 1 .8 6 m ile s . W h e n th e a b o v e s e c o n d m a in tr a c k
s h a ll h a v e b e e n c o m p le te d , th e t o t a l le n g th o f s e c o n d m a in tr a c k o n th e
s y s t e m w ill b e 1 2 6 .5 4 m ile s .
Grades. — T h e p la n fo r g r a d e r e v is io n c o n t e m p la te s th e r e d u c tio n o f e x is t ­
in g g r a d e s b e tw e e n S to c k t o n a n d C h ic a g o fr o m t h e p r e s e n t m a x im u m o f
s o m e w h a t o v e r 1% t o a m a x im u m o f .7 o f 1 % , t h e o b j e c t b e in g t o s e c u r e
u n ifo r m tr a ln -io a d o n th e E a s te r n D iv is io n b y s o a d ju s tin g t h e g r a d e s t h a t
a C o n s o lid a tio n e n g in e b e tw e e n C h ic a g o a n d S to c k t o n w ill h a n d le th e s a m e
to n n a g e a fte r th e g r a d e s h a ll h a v e b e e n r e d u c e d o n t h a t d is tr ic t a s th e n e w
M a lle t t y p e e n g in e s w ill h a n d le fr o m S to c k t o n to O e lw c ln o n th e p r e s e n t
g r a d e s . T o a c c o m p lis h th is b e tw e e n C h ic a g o a n d S t o c k t o n , t h e e x is t in g
g r a d e s a t 23 p o in ts h a v e b e e n In p r o c e s s o f r e d u c tio n d u r in g th e p a s t y e a r .
Block S ig na ls. — T h e n e w a u t o m a t ic b lo c k -s ig n a l I n s ta lla tio n n o w b e in g
e r e c te d w ill e x t e n d fr o m C h ic a g o to O e lw c ln , 2 4 0 m ile s . T h e s y s t e m In­
s t a lle d Is a ll e le c tr ic d ir e c t-c u r r e n t c o n t r o l, th e m o s t I m p r o v e d t y p e o f
a u t o m a t ic e le c tr ic b lo c k s ig n a ls , g iv in g p r o t e c t io n o n b o th s in g le a n d
d o u b le tr a c k . T h e b lo c k s e c tio n s w ill a v e r a g e a b o u t 2 m ile s In le n g th .
C apitalisation. — T h e c o m p a n y c o n t r a c te d to Issu e t o t h e r e o r g a n iz a tio n
m a n a g e r s in p a r t p a y m e n t fo r th e p r o p e r ty a c q u ir e d $ 5 0 ,0 0 0 ,0 0 0 4 % p r e f.
s t o c k a n d $ 4 5 ,9 9 8 ,9 0 0 c o m m o n s to c k ; th e r e w a s Issu ed u n d e r th is c o n t r a c t
to J u n e 3 0 1 9 1 0 $ 4 1 ,0 2 1 ,4 0 2 p r e f. a n d $ 4 5 ,2 4 5 ,6 1 3 c o m m o n . N o tic e h a s
b e e n r e c e n tly g iv e n b y t h e r e o r g a n iz a tio n m a n a g e r s t h a t t h e r e m a in d e r o f
t h e s to c k c o n t r a c te d fo r w ill n o t b e r e q u ir e d o r c a lle d fo r , a n d t h a t th e
c o n t r a c t r ig h t to r e c e iv e th is s to c k w ill b e r e lin q u is h e d t o t h e c o m p a n y .
C apital Stock (A u lh . Issue, $ 5 0 ,0 0 0 ,0 0 0 Preferred and $ 4 6 ,0 0 0 ,0 0 0 Comm on).
I s s u e d t o r e o r g a n iz a tio n m a n a g e r s ------- $ 4 1 ,0 2 1 ,4 0 2 p r e f. $ 4 5 ,2 4 5 ,6 1 3 c o m .
S o ld fo r c a s h __________________— ...............-------------------------1 ,1 0 0 c o m .
“ T o b e r e tir e d a s a lia b ilit y o n a c c ’t o f
___
n o t b e in g Issu ed to r c o rg , m a n a g e r s ” 8 ,9 7 8 ,5 9 8 p r e f.
7 o 3 ,2 8 7 c o m .
T h e c o m p a n y a ls o Issu ed to th e r e o r g a n iz a tio n m a n a g e r s In p a r t p a y m e n t
fo r t h e p r o p e r ty a n d a s s e ts $ 1 8 ,5 0 0 ,0 0 0 4 % 5 0 -y e a r g o ld b o n d s . T h e r e
w a s a ls o a s s u m e d a m o r tg a g e o n t h e M in n e a p o lis te r m n la ls p u r c h a s e d fro m
th e W is c o n s in C e n tr a l R R . C o . r e p r e s e n te d b y $ 5 0 0 ,0 0 0 3 y2% g o ld b o n d s .
F unded Debt J u n e 3 0 1 9 1 0 — Total, $ 3 7 ,2 3 2 ,0 0 0 , or $ 2 6 ,6 3 0 per M ile.
O utstanding. P er M ile.
C h ic a g o G r e a t W e s te r n R R . 1 s t m o r t g a g e ---------------------$ 1 8 ,5 0 0 ,0 0 0 1 $ 2 5 ,3 6 9
M in n e a p o lis T e r m in a l_____________________________________
5 0 0 ,0 0 0 /
M a so n C ity & F o r t D o d g e R R ___________________________ 1 2 ,0 0 0 ,0 0 0
3 1 ,7 3 5
W is c o n s in M in n e s o ta A P a c ific R R ______________________ 6 ,2 3 2 ,0 0 0
2 2 ,9 9 6
In c o n s id e r in g th e fu n d e d d e b t , w h ic h Is m o d e r a te . It s h o u ld b e b o r n e In
m in d t h a t th e m o r tg a g e s a r e s e c u r e d In p a r t b y v a lu a b le le a s e h o ld s .
Term inal F acilities, A c., Rented. — T h e a g g r e g a te r e n ta ls p a id d u r in g th e
10 m o s . fo r th e p r o p e r tie s o f o th e r c o m p a n ie s n e c e s s a r y fo r te r m in a l fa c ili­
tie s a n d t o c o n n e c t u p v a r io u s p a r ts o t th e s y s te m a m o u n te d to $ 4 8 2 ,6 3 4 .
A t 5% p e r a n n u m th is a m o u n t w o u ld p a y I n te r e s t o n a n I n v e s tm e n t o f
$ 1 1 ,5 8 3 ,2 2 5 , w h ic h w o u ld b e w h o lly I n a d e q u a te to p r o v id e I n d e p e n d e n tly
o w n e d f a c ilitie s . [T h e m o re v a lu a b le fa c ilitie s r e n te d fr o m o th e r c o m p a n ie s
a r e th e n d e s c r ib e d a t m o re o r le s s le n g t h .— F d .]
Proprietary C om panies. — T h e c o m p a n y h o ld s o r c o n tr o ls I n te r e s t In p r o ­
p r ie ta r y c o m p a n ie s a s s h o w n b e lo w . T h e fo llo w in g fu r th e r I n fo r m a tio n Is
g iv e n : (a) T h e le a s e o t th e M ason C ity <& Fort Dodge R R . t o th e C h ic a g o
G r e a t W e s te r n R y . C o ., d a te d A p r il 3 0 1 9 0 1 , w a s a d o p te d b y y o u r c o m p a n y ,
w h ic h a c c o r d in g ly a g r e e s to p a y I n te r e s t o n th e le s s o r ’s m o r tg a g e b o n d s to
t h e e x t e n t o f th e n e t e a r n in g s fro m th e le a s e d p r o p e r ty , a s s e t fo r th In th e
e a s e , (b) T h e le a s e o f th e W ise. M in n . & P ac. R R . to th e C h ic . G r. W e s t.
R y C o ., a ls o d a te d A p r il 3 0 1 9 0 1 , w a s lik e w is e a d o p te d b y y o u r c o m p a n y ,
th e te r m s b e in g a s d e s c r ib e d In “ a . ” (c) U n d e r o u r le a s e o f th e D eKalb
& Great W estern R y. (n o m o r tg a g e ), w e p a y a n o m in a l fix e d a n n u a l r e n ta l,
(d) T h e Omaha G rain Term inals (o r g . N o v . 25 1 9 0 3 ) In O m a h a a n d S o u th
O m a h a a r c o p e r a te d b y t h e M a so n C ity A F t . D o d g e R R . u n d e r le a s e to
y o u r c o m p a n y a n d In c lu d e 2 9 .2 5 a c r e s o f v a lu a b le c it y p r o p e r ty , t h e p o r­
tio n s n o t y e t o c c u p ie d b y t r a c k a g e b e in g o c c u p ie d b y d w e llin g - h o u s e s , th e
r e n ta ls th e r e fr o m c o v e r in g th e c a r r y in g c o s t . T h e to t a l c o s t , $ 3 8 2 ,0 8 8 , Is
c o n s id e r a b ly le s s th a n Its p r e s e n t v a lu e , (e) T h e Independent Elevator Co.
(o r g . O c t. 2 8 1 9 0 4 ) o w n s a m o d e r n fir e -p r o o f e le v a to r o f 1 ,0 4 0 0 0 0 b u s h e ls
c a p a c it y . (]) Webster C ounty Coal & Land Co. (o r g . M a y 2 5 1 8 95 ) h o ld s
4 8 7 .3 2 a c r e s o f s u r fa c e g r a z in g la n d s a n d 1 ,9 9 5 .6 5 a c r e s o f m in e r a l r ig h ts;
t h e c o a l Is n o t n o w w o r k e d a n d Is o f u n c e r ta in v a lu e , (g) T h e S t. Charles
Hotel & P arkC o . (o r g . A p r il 1 8 8 9 ) o w n s a 2 3 -a c r e p le a s u r e r e s o r t. ( h ) Iowa
Townsite Co. (o r g . J u ly 5 1 9 01 ) e s ta b lis h e d 13 to w n s it e s . I t s 2 ,1 7 7 a c r e s
c o s t $ 1 6 1 ,4 6 1 ; s a le s h a v e a g g r e g a te d $ 1 3 6 ,0 3 2 ; u n s o ld , 1 9 9 .7 7 a c r e s ,
e s tim a te d s e llin g v a lu e $ 5 0 ,0 0 0 . (i) The Iowa D evelopment Co. (o r g . S e p t . 3 0
1 8 9 5 ) o w n s 2 6 8 .3 4 a c r e s o f la n d a n d to w n a n d c it y lo t s , & c.; e s tim a te d s a le
v a lu e $ 1 5 0 ,0 0 0 .
Outlook. — T h e I m m e d ia te p r o s p e c ts fo r b u s in e s s a s th is r e p o r t g o e s to
p r e ss a r e p r o m is in g . T h e c o r n c r o p Is o u t o f d a n g e r a n d th e y ie ld w ill b e
th e la r g e s t In th e h is to r y o f th e c o u n tr y . T h e w h e a t c r o p Is m u c h b e tte r
th a n e x p e c te d ; th e o a ts c r o p Is a s la r g e a s a n y p r e v io u s c r o p , a n d e v e r y th in g
p r o m is e s a h e a v y t o n n a g e fo r th e fa ll a n d e a r iy w in te r m o n th s . T h e p r o s ­
p e c ts fo r a c o n t in u e d In c r ea se In to n n a g e d e p e n d fr o m y e a r to y e a r o n th e
c r o p c o n d itio n s . W ith a te r r ito r y so fa v o r a b le fo r c r o p s a s t h a t r e a c h e d
b y y o u r lin e In th e g r e a t S t a t e s o f I llin o is , I o w a , M in n e s o ta a n d M isso u r i,
a n d th e te r r ito r y b e y o n d , th e C h ic a g o G r e a t W e s te r n R R . h a s e v e r y
a s s u r a n c e o f g o o d c r o p s , If th e r e a r c a n y In th e la n d . T h e te r r ito r y w e
s e r v e Is la r g e ly a g r ic u ltu r a l; th e r e Is n o t a m ile t h a t Is u n p r o d u c tiv e . T h e
g r o w th o f t h e c it ie s o n th e lin e , a s fa r a s r e p o r te d a t th is w r itin g b y th e
C e n su s B u r e a u ,s h o w s a n I n c r e a se In p o p u la tio n o f 3 1 % o v e r th e 1 9 0 0 C c n s u s .




[V O L . L X X X X I

P A R V A L U E OF S T O C K S A N D B O N D S O W N E D J U N E 30 1910.
(1) Stock Pledged under 4% F irst M ortgage—
M ason C ity A F t. D odge R R . (en tire sto ck ), com m on sto ck ,
$19,205,400; preferred sto ck , $1 3,63 5,75 2)_____ ____________$32,841,152
W isconsin M innesota & Pacific R R . Co. (en tire cap ital sto c k . 5,893,400
Dc K alb & G reat W estern R R . (entire sto ck , a ll of one c la s s )..
100,000
Chic. U nion T ransfer R y .C o. ($40,000 pref. a n d $40,000 com .,
total Issued $1,000,000 each); M innesota T ransfer R y . Co.,
t:.7,009 t n a l lss.. »/O.000) S t
I i: . Do/ < , C ... $103, <<0
(to ta l Issued, $932,400); S t. Joseph U nion D epot Co., $1,000
(to tal Issued, $10,000); Iow a T ransfer R y . C o., $6,200 (to tal
Issued, $31,000)_______________________________________________
197,800
Iow a D evelopm ent C o., $150,000 (all); Iow a T ow nsite C o .,
$10,000 (all); S t. Charles (111.) H otel & P ark Co., $22,700
(to ta l Issued, $28,700); Iow a Sugar Co., $12,500 (to ta l Issued ,
195,200
$550,000)______ ________ _______________________________________
(2) Stock and Bonds Owned but Unpledged—
E n tire $220,600 stock of In d e p en d e n t E le v a to r Co., $100,000
stock of K. C. T erm . R y . Co. (to ta l Issued, $1,200,000) a n d
$421,000 1st M. 4s (out of $6,232,000) of W ise. M inn. A P ac.
R lt. Co.; Chicago G reat W estern R R . pref. sto c k , $ 5 5 ,0 0 0 ..
796,600
(3) Stocks Pledged under M ason C ity & F t. Dodge R R . 4% \s t.M —
O m aha G rain T erm inals ($100,000); W e b ster C ounty Coal &
L and Co. ($400,000).
500,000
INCO M E ACCOUNT T E N M O N TH S END ING JU N E 30 1910.
T otal net revenue.....................S2,427,732
Operating Revenue—
F r e ig h t.........................................$7,279,0Sl T a x e s ......................................... 304,722
2,141,972
P assen g er...............
Mall, express & miscellaneous 686,722 Operating Income.................S2,123,010
Other than transportation rev.
64,007 Int. on securities, loans, &c. 172,085
Rentals and m iscellaneous..
16,348
Total operating revenue.. .510,171,783
T otal Income.................
$2,311,443
Operating Expenses—
M alnt. ot way and structures. SI,296,139
Maintenance of equipm ent.. 1,244,130 Deduct—
Traffic expenses......................
422,857 In t. on Chic. G reat W. bonds $027,021
Transportation expenses___ 4,407,301 Int. on Mason C. & Ft. I), bds. 400,000
General expenses...............
355,649 Int. on Wise. M. & Pac. bonds 193,700
Other Interest...........................
7,120
T otal......................................... S7,726,376 Property rentals paid_______
482,634
Net revenue.................
$2,445,407 Hire of equipm ent...................
145,193
Outside oper.—net deficit...
17,675
Total deductions...................$1,855,668
Total net revenue................ $2,427,732 Balance to profit and loss
$455,775
T R A F F IC R E S U L T S — Y E A R S E N D . J U N E 30 1910, 1909, 1907, 1905.
1909-10.
1908-09.
1906-07.
1904-05.
A verage m ileage o p e r..
1.495
1.475
1,475
1,475
Gross o p eratin g rev en ue.$12,053,060 $10,715,816 $11,401,798 $9,290,787
do per m ile of ro a n .
8,062
7,261
7,726
6,296
F reig h t rev en u e ...................$8,521,540 $7,434,148 $8,259,017 $6,582,045
R evenue ton s one m llc.-1189185332 1081120854 1141014946 840,368,068
A vge. rev . per ton m ile .
0.716 cts. 0.688 c ts.
0.724 cts. 0.783 c ts.
A v. tons all fg t. per tr.m
345.35
325.84
327.89
295.053
A vge. cap ac. freigh t cars
30.64
28.22
27.43
26.9H
Pass rev . per tra in m ile
$0.84
$0.69
$0.71
$0.6H
P assenger train revenue $3,308,224 $3,102,549 $3,114,3 07 $2,635,263
P ass, carried one m ile ..13 8,735,465 138,131,435 125,308,778 102,511,210
R a te per pass, per m ile. . 1.904 cts. 1.797 cts. 2.050 c ts. 2.100 cts.
A v. pass, p er pass. tr. m .
44
38
35
29
* R esu lts for 1909-10 here Include o p eration s of receivers for J u ly a n d
A ug. 1909, a n d of th e new com pany from S ep t. 1909 to Ju n e 19 10, Inclusive.
FREIG H T TO NNAG E FOR 10 MOS. END ING JU N E 30 1910 —PROD UCTS OF—
Agriculture. Animals. Mines. Forests. M an uf’rs. Merck., A c. Total.
1,021,085 364,072 1,092,075 274,241 906,188
273,276
3,930,937
CONSOLIDATED B A LA N C E SH E E T JU N E 30 1910.
Assets—
Liabilities—
Common sto c k ........................S45,2 I0,713
Road &equlp.SU7,660,020
I.essdep’nres.
153,827 $117,500,193 Preferred sto ck....................... 41,021,402
Secur. of subslil. cos. pledged
117,807 Funded debt:
Unpledged ______
109,689 1st M. 50-yr. 4% gold bds. 18,500,000
500,000
Other Investments—pledged
302,701 Minn. Term. 3 >1 % bonds
Unpledged ____________
277,100 M. C. A Ft. D. R lt. 1st M. 4s 12,000,000
Cash (Treasurer)..................... 1,418,760 W. M. & I’. R R . 1st M. 4s._ 5,811,000
207,160
Cash (reorganlz’n managers) 3,685,784 Traffic and car balances___
Marketable securities...........
3,500 Audited vouchers and wage3 1,974,802
179,482
Loans and bills receivable..
28,038 MIscel. accounts p a y ab le...
8,780
Traffic and car balances__
86,633 M atured Interest unpaid__
89,132
Due from agts. & conductors
289,245 Other working liabilities__
MIscel. accounts receivable.
451,613 Liabilities Cldc. Gt. Western
56,115
Material and supplies............ 1,850,112 Ry. receivership (est.)__
Other working assets______
135,837 Unm atured Int. and re n ts..
383,537
Taxes accrued......................
Chicago Great Western Ry.
204,061
230,018
receivership (estim ated).
173,157 Operating reserves................
Advances (deferred)......... ..
277,603 Other deferred credit Item s.
18,810
Working funds, &c................
7,321 Profit and loss..........................
455,775
O ther deferred Items_____
225,997
T otal...................................... $126,947,090 T otal.......................................$126,947,090
— V. 91, p. 1160, 214.
St. Louis Rocky Mountain & Pacific Co.
30 1010.)
Pres. Henry Koehler, St. Louis, Oct. 1, wrote in substance:

{R eport fo r F iscal Y ear ending Ju n e

General R esults.— T he year w as m ark ed by ste a d y d ev elo p m en t of th e
com pany’s properties and Increasing business In all d e p a rtm e n ts , I he
gratify ing feature w as the larger ton nage of fuel, p rin c ip ally coal, shipped
from your com pany’s m ines for dom estic a n d steam cons u m ptlo n to m a rk e ts
In a te rrito ry m uch w ider In e x te n t th an a t a n y tim e h e reto fo re , lh e
railroad business Is also Increasing stead ily , especially In th e hau ling of
freight o th er th a n fuel, a n d In passenger traffic. (No to n n a g e figures or
details of gross earnings a rc fu rnish ed .— Ed.)
„
T he gross earnings for th e year w ere $1,974,244, an Increase of $535,198.
N et earnings w ere $667,511, an Increase of $21 1,447, or 3 1 % . A fter pro­
viding for fixed charges, expenses, tax es, dep reciatio n a n d sin king fund
req uirem ents, there Is a su rplus from th e y e a r’s o p eratio n s of $201,628
m aking th e to ta l su rplus on Ju n e 30 1910 $586,104.
M odern sortin g m achinery has been Installed a n d th e best grades of lum p
coal for dom estic use are prepared by screening an d han d-pickin g over
a u to m a tic tables. T hese pain stak in g m eth ods, com bined w ith th e Inheren t
excellent q u a lity of th e coal, hav e enabled th e com pany to satisfy th e
ex acting dem ands of consum ers covering a te rrito ry w hich em braces Colo­
rad o , K ansas, T exas, O klahom a, N ebrask a, New M exico a n d A rizona.
T he d e m an d for coke has been below n o rm al, ow ing to th e low prices ot
copper a n d o th e r m etals, w hich hav e op erated to c u rtail sm elter activ ities,
an d In consequence th e prices o b tain ab le for coke h av e been below th e
averag e of recent years.
Reduction of Liabilities.— T he floating d e b t h as been red uced by p a y m e n t
of notes a t and prior to m a tu rity , from earnings w ith o u t m aking new loans
or renew als, as follows: Car tru st n o tes paid a n d canceled, $145,000 o u t ot
$206,000 Issued three years ago; coupon gold notes paid an d canceled,
$150,000 o u t of $723,000 Issued In 1909; to ta l notes canceled, $295,000.
No change has been m ade In th e a m o u n t of c ap ital stock or bonds o u t.
Im provem ents.— A to ta l of $94,905 w as expended d u rin g th e year for
ad d itio n s a n d Im provem ents, principally m achinery for p rep a ra tio n of coal,
houses fo r em ployees, eq u ip m en t a n d railroad sidings.
Need o f A dditional Coal M in es.— T he rap id ly Increasing dem an d for fuel
In th e g r e a t S outhw estern T errito ry w hich m u st be served by y o u r com ­
p a n y ’s o p e ra tio n s em phasizes th e need of a larg er prod uctive cap acity and
the e sta b lish m e n t of new m ines. Investig atio n s hav e been carried on by
diam ond d rill and tunnel openings to develop new localities on y o ur
p ro p e rty ou tside of zone of present w orkings, fi'hc results show tw o w idely
se p a rate d locations, each well a d a p te d as a site for a m ining p la n t of largo
c ap a c ity , a n d both readily accessible from th e railroad.

jS
tov.

5 1910.1

T H E CH RO NICLE

Of these th e P o ta to C anyon d istric t proves to be especially fav orab le ror
arg e o p eratio n s, ow ing to th e fact th a t th e tw o upper veins of yo ur coal
held, the P o tato C an y o n a n d T in P an veins, both excellent coking coal, a re
here found to be In excellent physical condition and so situ ate d th a t both
can be w orked by d rift entries, con centrating th e o u tp u t o v e r one tipp le
a n d un der service of th e sam e pow er-plant, a n d from th e sam e p o in t, if
found desirable, th e low er, or B a to n coal vein, which Is now w orked a t
K oehler a n d V an H ou ten and w hich underlies this entire coal Held, can be
reached a n d w orked by m eans of a sh aft 500 feet deep.
In th e S ugarltc distric t Im m ediately east of th e city of B ato n o u r Investi­
gations h av e resulted In outlining a large area of coal of One q u a lity for
dom estic purposes, for w hich there Is a rap idly Increasing dem an d a n d a t
higher prices th a n can be realized for o th er grades of coal. T his d istric t Is
being fu rth e r developed by d rift entries p rep arato ry to th e estab lish m en t
of a m ining p lan t a t a p o in t tw o miles from B aton; an d beginning a b o u t
O ct. 15 1010 will be op erated as a w agon m ine to supply consum ers In th e
city du rin g th e tim e required fo rth e necessary developm ent a n d Installation .
Sinicina F und am i D epreciation— C om m encing A pril 1 1010 an a m o u n t
equal to 1% per ton of coal mined has been set aside each m o nth o u t of
earnings for a sinking fund for red em ptio n of bonds, a n d will be tran sferred
to th e tru ste e a t th e close of the year.
T he to ta l am o u n t set aside from earnings for depreciation to d a te Is
$314,625, w hile for th e fiscal year covered by this rep o rt th e a m o u n t Is
$61,855. T hese deductions are no t exp en ditu res and hav e no connection
w hatever w ith the cost of repairs and m aintenance, b u ta re a reservation from
earnings for th e sole purpose of u ltim ately replacing dep reciated p ro p erty .
O utlook.— T he m anagers feel decidedly optim istic regarding th e fu tu re .
T he great S o uthw est Is now a .Mecca for countless tho usan ds who com e In
qu est of cheaper and b e tte r lands for farm ing purposes. D evelopm ent Is
going on a t a pace unchecked by tem p orary adverse conditions In E astern
financial centres. T he cou ntry served Is Increasing In popu latio n by leaps
a n d bounds, w hich foreshadow s a n equally rap id Increase of business In
coal a n d coke and In railroad traffic.
T he ag ricu ltu ral developm ent In th e te rrito ry trib u ta ry to th e ro ad , by
con stru ction of Irrigation works as well as th e extension of farm in g op era­
tion s In th e m o un tain valleys and lands along th e foot-hills, prom ises fur­
th e r Increase of traffic from th a t source. Som e ad d itio n al business m ay
also be expected from new m ining operation s In th e U aldy a n d E lizab eth ­
tow n d istricts and from th e recent co n stru ction and Im provem ent of w agon
roads to T aos a n d o th er points w ithin reach of th e p resent term in u s of
U tc P a rk .
IN C O M E A C C O U N T F O R Y E A R S E N D IN G J U N E 30.
1909-10.
1908-09.
1907-08.
1906-07.
Gross re v e n u e . ................$1,974,244 $1,439,045 $1,535,996 $1,127,234
Cost, expenses & ta x e s .. 1,30G,733
982,981 1,006,587
650 735
N et incom e_ $667,511
$456,004
$529,409
$476,499
In te re st c h a rg e s_ $391,045
$356,935
$386,548
$314,258
O ther d e d u c tio n s_
10,071
24,752
17,144
19,930
R eserved for depreciation
and ren ew a ls_____ . .
61,856
79,307
106,508
35,398
B cserved to redeem bds ..
2,911
m
---------------S u r p lu s ________
$201,628 def.$4,930
$19,209
$106,913
CONSOLIDATED B A LA N C E SH E E T JU N E 30.
1910.
1909.
1910.
1909.
Liabilities—
Assets—
5
$
S
S
St.L.It.M .&P.CO.—
Property & equip­
Common
stockE
,100,000 10,000,000
ment (cost)___ 1 ,892,747 18,400,950
Other Investments 300,311 283,340 Preferred stock. ,000,000 1.000,000
First mtge. bds. ,500,000
“ FIrstm tge. bonds
a915,800 Sec’d coup.notes 573,000 7,500,000
pledged” ______
723,000
St.L.B.M .& P.By.
•‘FIrstm tge. bonds
car trust no tes.. 61,000 143,000
owned” _______ 482,000
Cash ....................... 193,664 319,562 Vouchers & wages 140,734
60,264
4,481 Notes payable___
Notes receivable.. 106,600
60,000
20,000
Accts. receivable. 200,924 186,455 Accounts payable.
4,643
55,830
Coal and coke on
Accrued Interest..
175,912
6,081
6,801 Sundry accounts.. 170,020
hand.....................
5,004
6,831
7,365
7,286 Itcservcd for de­
Sundry accounts..
76,500 preciation ......... 314,625 244,874
M at’ls * supplies. 99,556
17,804 Sinking fund____
Ileal e sta te ............
2,911
14,763
35,214 S u rplu s.................. 586,105 384,476
Other a sse ts.........
“ T o ta l...................20,421,011 20,314,193 T o ta l.................. 20,424,041 20,314,193
St. Louis Bocky Mountain **Pnclfic By. Co. guarantees principal (S105.000) and
Interest on first mtge. 7% ten-year gold bonds of the Cimarron & Northwestern lty.
This guaranty Is secured by first lien on 22 miles of standard-gauge railroad, etc.
a Pledged as collat. under secured coupon notes due April 1 1910, 1911, 1912.
N ote.— P res. K oehler w rites: " L a st y e a r’s ‘con solid ated’ balance sheet
Included assets a n d liabilities of the S t. L ouis C enstru ctlo n & E quip m ent
Co. Item s rela tin g to th is con stru ction com pany w ere n o t Included In the
balance sh eet this y ear. T he con stru ction com pany ow ns $433,800 bonds
of th e S t. Louis B ocky M ountain & Pacific Co., w hich w ere m ade a p art
of the bonds rep orted In th e assets in la st y e a r’s consolidated sta te m e n t.
T he balance sheet th is year show s the a ctu a l condition of th e S t. Louis
B ocky M ountain * Pacific Co. a n d Its a ctiv e su bsid iary, the S t. Louis
B ocky M o u n ta in '* Pacific B y . C’o ., excluding all Item s of o th e r related
corpo ration s, In o rder to avoid? confusion an d unnecessary bulk — V
91, p. 1161.
Gulf & Ship Island RR.

(R eport fo r F iscal Y ear ending J u n e

30 1910.)

President J. T. Jones of Buffalo, N. Y ., on Sept. 30 wrote:

General R esults.— In d u strial conditions In S o uthern M ississippi hav e Im­
proved to such an e x te n t th a t both gross a n d n e t o p eratin g receipts m ake
a m uch m ore fav orab le show ing th an for th e previous fiscal y ear. E arnings
from freight Increased from $4,578 to $5,062 a n d earnings from passengers
Increased from $1,146 to $1,339 per m ile of ro ad . T he freigh t earnings
averag ed 1.739 c ts., as ag ain st 1.715 c ts. per ton in 1908-09 p er m ile ,a n d
passenger earnings averaged 2.831 c ts., as ag ain st 3.046 cts. per passenger
per m ile. T he percentage of op erating expenses and tax es to gross o p e ra t­
ing revenues w as 69.05, as com pared w ith 78.39 for th e previous year.
D uring th e fiscal year th ere were delivered to connections a n d to th e
G ulfport IMer 40,717 loaded cars, as ag ain st 36,353 loaded cars In th e
previous year, th e Increase being 4,364 cars, or 12% . T he n u m b er of loaded
cars received from connections during th e fiscal year w as 22,942, as com ­
pared w ith 20,175 In th e previous y ear, an Increase of 2,767 cars, or 13.71 %
G ulfport Ilarb or.— T he ex p o rtatio n of lum ber th ro u g h G ulfpo rt H arb o r
show ed a very su b sta n tia l Increase, th e to ta l for th e year being 276,127,000
feet (cst. valu e $6,903,1751, as com pared w ith 212,787,000 feet for 1908-09
and 306,374,000 feet for 1906-07, th e to ta l am o u n t of lum ber exp orted
reaching a higher level th a n In any previous year except 1900-07.
E xpo rts of o th e r com m odities continued to show favorable Increases th e
n e t registered to n nage being 54,961, ns ag ain st 31,706 for th e previous
fiscal y ear. T hese exp orts Include 32,063 barrels of rosin, 22,800 crcosoted
cross-tics, 7,818 bales of cotto n a n d 336,000 lbs. of cottonseed m eal to ­
g e th er w ith o th e r com m odities th a t in d icate an Increasing a n d m ore d iv ersi­
fied ex p o rt ton nage. Im p o rts for th e fiscal year Include 3,092 ton s of
p h o sp h a te rock an d 1,528,315 gallons of creosote oil.
C apital Stock.— D uring th e year $250,000 of new cap ital stock w as Issued
a n d sold to stockholders a t p ar, Increasing th e a m o u n t au th o rized a n d o u t­
sta n d in g to $6,750,000.
R ond s.— T he funded d e b t w as decreased by th e p ay m en t of $250,000 of
M tge. 6% gold bonds m atu rin g A pril 1 1910. Of th e first refun ding and
term in al bonds $66,000 w ere bought and deposited w ith th e tru ste e In­
creasing th e bonds held for th e sinking fund to $343,000.
R a ils.— 75-lb., 150.16 miles; 65-lb., 38.70 miles; 56 a n d 60-Ib.. 112 14 m
A ccounts.— T he form of balance sheet has been slig htly m odified.’ T he
reserves for m ain ten an ce of p rop erty (replacem ent reserve, $ 8 , 1 3 7 ; and
dep reciatio n reserve, $155,759) w hich hav e heretofore been carried as a
liability , a re now ded ucted from cost of p ro p erty . T his results In show ing
a decrease In p ro p erty acco unts, regardless of th e fact th a t p ro p e rty was
Increased by th e ex p en d itu re of $37,775 88 In Im provem ents. F o r th e p u r­
pose of com parison, th e results for 1909 hav e been recast along sam e lines




1245

O P E R A T IO N S A N D F IS C A L R E S U L T S .
,
,
1909-10.
1908-09.
1907-08.
1906-07.
A verage m iles o p e ra te d ..
307
307
307
307
Operations—
Passengers c arried ______ 538,605
479,084
571,246
669,732
Passengers carried 1 m lle.14 ,5 19 ,0 85
14,439,262 18,347,549
B a te per pass, per m ile .. 2.831 cts. 11,551,519
cts. 2.964 c ts. 2.849 cts.
T ons freigh t m o v e d _____ 1,276,250 3.046
1,115,663
1,197,331 1,449,404
T ons freigh t m oved 1 m *_89,389,269 81,972,402 91,406,165
B a te per ton per m ile
1.739 cts. 1.715 cts. 1.662 cts. 107,817,374
1.697 c ts.
A v .tra in lo ad ,rev .(to n s) _
273
254
257
258
E arn s, per pass, tra in m .
$0.95
$0.79
$0.94
$1.30
E arn s, per fg t. tra in m ile
$4.75
$4.36
$4.28
$4.38
Gross earnings per m ile ..
$6,821
$6,102
$6,733
$8,090
Gross earnings—
$
$
S
$
F re ig h t---------------1,554,182 1,405,593
1,518,881
1,830,109
P a s s e n g e r_______________ 411,016
351,882
428,008
522,670
M all, express a n d m ls c ..
88,085
82,623
85,9281
130,766
O th er th a n t r a n s p o r t s ..
40,793
33,096
34.060J
T o tal o p er. rev en u e ___ 2,094,076 1,873,196 2,066,878 2,483.545
O perating expenses—
M aintenance of w ay, & c. 365,841
395,266
508,3851
M aintenance of eq u lp m ’t. 316,238
278,440
345,4161
T raffic exp en ses_________
17,633
15,899
15,710) 1,771,272
T ra n sp o rta tio n ex p en ses. 595,521
630,819
712,9541
G eneral exp en ses________
89,162
86,794
101.460J
1,384,396 1,407,218 1,683,925 1,771,272
T o tal ......................
P e r cen t of oper. ex p . &
tax es to o p er. rev en u e .
(66.12)
(75.12)
(81.47)
(71.32)
N et e arn in g s_____________ 709,680
465,978
712,273
382,953
T ax es ---------------------------61,490
61,217
38,955
46,334
O peratin g Incom e_____ 648,190
404,761
336,619
673,318
O th er Incom e___________
14,170
7,702
27,064
26,826
T o tal Incom e..................... 662,360
412,463
363,683
700,144
Deduct—
I n te r e s t.....................
306,838
331,487
310,547
259,243
Sinking fu n d ____________
49,840
49,840
49,840
49,840
H ire of e q u ip ., ren ts, & c.
14,343
26,478
11,064
73,589
T o ta l d ed u ctio n s__________________371,021407,805
371,451
382,672
B alance for y e a r________sur.291,339 sur.4,658 def.7,768 Sur.317,472
D ividends, 4 % __________ 262,500
242,500
240,000
240,000
* N ot Including c o m p an y ’s freigh t.
CONDENSED B A LA N C E SH E E T JU N E 30.
1910.
1909. |
1909.
1910.
8
; Liabilities—
8
8
Hoad and equip_*13,76S,202 13 ,894,323 ! Capital stock_____ 6.750.000
6.500.000
M at’ls & supplies. 153,971 151,101 Funded deb t____ 5.500.000 5.750.000
9,712
Cash ...................
22,129 Securities due for
Cash In transit . . .
21,831
25,872 | construction__ 1.240.000 1.240.000
Cash, flnan. agents 125,960 129,245
Car trust notes__ 140,000 255,424
Bills receivable...
869
5,210 | Unpaid pay-rolls.. 57,967
56,257
Agts. & conductors 22,726
9,481
•
Int. due on bonds. 125,900 128,150
Accts. receivable. 244,426 135,714 . Acer.
int. on bonds
11,250
7.500
Uncxpired lnsur’ce 10,345
8,980 SVouchers & accts. 170,761 180,872
Sinking fund......... 352,178 284,718
Bills
payable____
25,000
75,000
Unearned Interest
Accrued taxes___
24,136
21,765
on car trust notes _______
2,251 Unpaid dividends.
1.500
500
Miscellaneous___
13,533
7,698 Sinking fund____ 377,098 309,638
lies, forest.U abll’s 103,155 117,792
S u rp lu s.................. 123,497
62,764
M iscellaneous___
27,178
17,341
T o ta l.................. 14,723,753 14,676,753 T o ta l...................14,723,753 14,076,753
______
* After deducting reserve for accrued depreciation of road, 8444,033; of equip­
ment, 3508,047.— V. 91, p. 1095, 655.
Tonopah & Goldfield Railroad Co.
30 1910.)
Pres. M. B. Cutter, Phila., Sept.. 28, wrote in substance:

{Report fo r F iscal Y ear ending Ju n e

General R esults.— O w ing to th e continued depression in m ining develop­
m en ts In N evada for th e first six m o nth s a n d th e slow re tu rn to a c tiv ity of
sam e d u rin g th e la tte r half of th e year, th e gross earnings decreased $120,­
799, equal to 13.27% ; n e t earnings decreased $24,356, equal to 8.93% ;
op eratin g expenses w ere reduced $96,443, equal to 14.15% . In ou r opinion
w e hav e reached th e low m ark and from now on can expect a m o d erate In­
crease In gross earnings. T his Increase, how ever, will depend som ew hat
on th e general conditions th ro u g h o u t N evada, w hich now give evidence
of Increased a c tiv ity In th e m ining dev elo pm en ts.
Mg
Shops, & c.— O ur shops hav ing been destroy ed by fire on Ju n e 28 1909,
It w as decided to change th e location of b o th shops a n d general offices to
G oldfield. W hen th e new shops arc In op eration th ere will be a considerable
saving In th e cost of m ain ten an ce.
S ta tu s.— All d e b ts, m an y of them old ones, have been paid oil, a n d all
c u rren t obligations hav e been m et du rin g th e past year, so th a t w ith th e
com m encem ent of th e new fiscal year we s ta rt oir w ith o u t a n y deb ts or
obligations o th e r th a n those Incurred in c u rre n t op eration s.
9*
M anagem ent.— D uring th e year th e follow ing official changes too k place:
M. B. C u tter elected P res, an d G en. M gr., vice T hos. M. K ing, C hairm an ,
resigned; B . H . B u sh to n , V Ice-Pres. an d T rc a s., died J a n . 22 1910: C. A.
H lgbce elected T rc a s., vice B . H . B u shto n; Sam uel Bell J r . elected direc­
to r, vice T hos. M. K ing, resigned; G eorge W ingfield elected directo r, vice
B . II. B u sh to n .
IN C O M E ACCO U N T .
Operating Revenue1909-10.
1907-08.
1908-09.
1906-07.
F reight ____.
.
$374,444
$582,735 $1,186,931
O re ______ _______ _ . $354,619
245,028
288,172
523,499
549,897
P a s s e n g e r___________ .
136,876
327,937
192,233
571,684
M all, express, & c___ .
52,682
55,170
83,405
78,063
T o t a l .................................. $789,205
$910,019
$1,517,577
$2,386,574
Operating E xpenses—
M aintenance of w ay, &c.. $75,214
$90,756
$171,414
$285,900
M aint. of e q u ip m e n t___.
111,457
116,931
169,611
152,107
T ra n sp o rt’ll a n d tra ffic .
326,503
411,662
669,898
783,654
G e n e ra l________________
71,966
62,234
72,887
74,652
T o t a l ................................. $585,140
$681,583 $1,083,810 $1,296,313
P er cent expenses to rev .
(74.14)
(74.89)
(71.42)
(54.32)
N et earn in g s___________ $204,065
$228,436
$433,767 $1,090,261
T axes _________________
36,235
45,851
55,419
35,602
O peratin g Incom e____ $167,830
$182,585
$378,348 $1,054,659
O th er In c o m e __________
3,772
3,165
1,946
7,099
T otal n et Incom e____ $171,602
$185,750
$380,294 $1,061,758
D eductions—
In te re st on bo n d s______
$52,830
$57,450
$63,417
$66,684
H ire of equ ip .,ren tals,& c i. *12,113
22,846
39,193
S inking fu n d ___________
3:78,925
78,925
78,925
78,925
Stock N ov. M ob. T rans.
Co. charged o lf...........9,000
A ccounts charged off___
9,033
Im p ro v e m e n ts _________
55,058
D ividend on pref. sto c k .
ram i no
non
D ividend on com . sto ck .
---------------------------1/(30)195.000
T o tal ded u ctio n s____
$159,221
$181,536
$863,700
B alance,. surplus
.
-$27,734
$26,529
$198,058
H ire of equ ipm en t, ren tals, &c., includes. In 1910$198,758
hire of eq u ip m en t,
$3,447; ren tal of leased trac k s, $7 ,417; In terest and d isco u n t, $1,19
ren ts p aid , $51.
x Includes $39,462 50 paid N ov. 30 1909 a n d sam e a m o u n t pay
D ec. 1 1910 to retire $77,000 bonds.
I
:p
V D ividends In 1906-07 Include 30% on b o th classes of sto ck , v iz .: 1 )
each paid N ov. 1 1906, Dec. 20 1906 a n d A pril ^190 — ouch d a t •.

TH E CH RONICLE

1240

B A L A N C E SH E E T JU N E 30.
1910.
1909.
1910.
1909.
Liabilities—
S
S
Assets—
S
$ ___ Preferred
stock____ 500,000 500,000
Road & equipm ent.03,704,397 3,773,243 Common
sto c k ..........1,650,000 1,650,000
Dwelling houses a t
mtge. 6% b d s.1,192,000 1,269,000
T ono pah________ 12,675 12,675 First
Bills payable_______ _______ 75,000
Securities In treasury 350,000 350,000 Vouchers
_________ 46,198 37,119
400
Marketable securities _ 400
W ages____________ 21,059 24,207
Cash on h a n d ______ 57,342 31,508 Traffic,
&c., balances 33,770 38,181
13,017
8,418
Cash In transitDlvs. uncollected...
1,443
1
Due from individuals
6,256
and com panies... 58,887 52,633 Accrued rents, & c.. 3,555
Traffic balances, &c. 20,990 31,969 Accrued taxes............ 17,459 18,014
9,928
iscellaneous............ 15,375
Due from agents___ 13,311 13,720 M
39,463 39,461
6,423
6,423 Sinking fund_______
Bills receivable.........
credit Items 22,691
5,260
M aterials & supplies. 93,691 121,201 Deferred
Deferred debit Items 50,942 32,421 ProOt and loss______5839,062 763,743
T o ta l.......................4,382,075 4.437,614 T otal__________ 4,382,075 4,437,614

a After deducting reserve for accrued depreciation, 8130,670.
6 After crediting S77.000 1st M. bonds canceled and retired In 1909 and various
minor adjustments amounting to $19,151, and deducting sundry items (mostly
applicable to prior periods) aggregating 848,566.— V. 91, p. w ‘~ i.
Coal & Coke Railway Co.

(R eport fo r F iscal Y ear ending J u n e

30 1910.)

Pres. H. G. Elkins, Elkins, W. Va., Aug. 9 wrote:

[VOL.

LXXXX1.

R E SU L T S FOR Y E A R S END ING JU N E 30.
1909-10. 1908-09. I
1909-10. 1908-09.
fr’t carried .. *949,132 775,004
Passengers carried 281,553 269,152 Tons
do 1 m ile ... 5,830,675 6,201,416 Tons 1 m ile_____ 72,763,200 51,590,642
R ate per ton per
R ate per passenger
per m ile_______ 2.75 cts. 2.00 cts. m ile __________ 0.77 cts. 0.95 cts.
* Includes bituminous coal, 487,466 tons; coke, 88,223; products of agriculture,
30,423; forest products, 282,344; manufactures, 36,143; merchandise, 10,129;
miscellaneous, 14,404.
1909-10.1908-09.
1909-10. 1908-09.
s
§
Earnings—
$
S
P a ssen g er_____________160,309 124,249 Net railway departm ent.292,121 222,514
Freight .............................557,681 489,746 Net coal departm ent___ o69,184 --------Car service_____________135,770 82,134
Mall, express and m lsc.. 29,031 21,179 T o ta l........................... 361,305 222,514
Less ta x e s ____________ 42,000 42,000
Gross earn in g s............. 882,792 717,308
Net earn in g s................319,305 180,514
Expenses—
840
840
M aintenance of w ay_____127,723 107,437 Dividends received_____
Malnt. of equipm ent____ 199,135 161,480 Total net earnings____ 320,145 181,354
Traffic expenses......... .. 11,152 9,896 Coupon and other ln t___ 271,239 242,304
Conducting transport’n.201,743 175,938
General expenses......... .. 26,072 25,341 Rental Davis Coll. C'o.,
.......................
Car service_____________ 24,846 14,702 previous years_______ 27,683
Total deductions......... 298,922 242,301
Total oper. expenses..590,671 494,794 Balance____________
sur21,223df60,95
P. c. expenses to earnings (66.9) (68.8)
a Net earnings of coal departm ent In 1909-10, $149,184; rental, $80,000, net
Income, S69,184; In 1908-09, $16,280, offset by the same am ount of rental.
G EN ERAL B A LA N C E SH E E T JU N E 30.
1909.
1910.
1910.
1909.
Liabilities—
S
$„ „„„
Assets__
$
$
stock.........20,000,000 19,913,000
R ealest. & stocks.l7,870,865 17,858,605 Capital
Mortgage
bonds..
4,031,000
3,905,000
Road & improv’ts 5,693,366 5,500,158 Equip, obligations 371,474 461,173
E quip m ent............ 1,824,856 1,638,482
payable......... 1,333,287 1,109,217
Davis Colliery Co. 180,821 159,359 Bills
II. G. Davis, open
M aterial on hand. 110,572 121,095
105,000
12,169 account .............. 135,000
Cash on hand, &c. 20,476
13,314
12,067 Other open accts. 70,692
Car service_______ 13,446
29,033
42,343
W
ages...................21,432
Interline frelghts. 24,539
67,489
4,447 Cert 1lied vouchers 48,449
6,318
Agts. & conductors
25,747
070 Replacement fund 14,471
1,061
U. 8. mall service.
1,217
170
Agents’ drafts___
Elkins extension.. 21,686
Davis Colliery Co.
4,285
ltowlesb’g survey.
8,614
40,000
48,419 (re n ta l)..............
78,696
Other open accts..
8,15-1
Res. fund for taxes
3,797
Res. fund for taxes
17,978
28,651 Overdraft In bank
G ass.& SuttonltR .
259,322
Profit and los3___ 238,099
T o ta l.................. 26,092,886 25,664,936 T o ta l...................26,092,886 25,004,936
—V. 91, p. 1160.

E arn ings. —The net earnings from railway operations were 8292,121,
which was an Increase of 869,607. Deducting taxes, the net Income
was $250,121. In other words, the company earned from railway opera­
tions alone within 821,118 of enough to paythe Interest on Its outstanding
bonds and other obligations. This deficiency, however, was more than
made up by the coal department, the clear prolits from which were $41,501,
leaving a surplus above Interest charges of 821,223.
The Court of Appeals of West Virginia held the 2-cent passenger rate law
to be constitutional, but concluded that to apply It to the Coal & Coke Ry.
would be confiscatory. The 3-cent rate was therefore restored on June 24
1909, and the effect can be seen in the increase of passenger receipts of over
$36,000,
or nearly
30%. In the earnings from coal freights of. $43,769, or
There was
an Increase
about 38% . During the past year, with general conditions Improved, tne
com pany’s returns from car service arose from $82,134 to $l3o,770, an in­
crease of 65%. With the Increase of earnings came enlarged expenses,
but the net gain, as before stated, was $69,607, or 31.3/8. In the coal
department, although prices during the year were quite low, the volu c
of business was good and the tonnage considerably larger tlmn In 1909.
Tonnage.— The Increase In freight hauled was from 774.738 to 949,132
tons, or 22.7% . Of this traffic. 85.7% originated on the line of the road
and 14.3% came from connecting roads. 'Phe traffic from connecting roads
has Increased as follows; 1907, 36,3.>0, or 5% of total, 1908, 64,864, or
8.5% of total; 1909, 107,305. or 13.8%; 1910, 13o,678, or 14.3% .
Cincinnati Jfev/ Orleans & Texas Pacific Ry.
Of the entire tonnage for the year coal and coke comprised 60.66% , an
L essee o f the C in cin n ati S outhern R y .
Increase of 4 85%, and lumber and kindred products 29.74% , a decrease
(R eport fo r F iscal Y ear ending Ju n e 30 1910.)
of 5 48% Coal and lumber constituted about 90% of the freight, which is
practically the same proportion as for the two preceding years. There has
Pres. W . W. Finley, Oct. 12 1910, wrote in substance:
been an Increase each year In the volume of business since the opening of
the road; considerably larger for last year than In any previous year, as is
R esults.— G ross o p eratin g revenues Increased $1,252,490; n et
shown by the following figures: 1907, 719,228 tons; 1908, 736,129 tons; opGeneral
eratin g revenue Increased $7 91,267; o th e r Incom e Increased $ 1 4 7 3 8 1 .
1909, 774,738 tons; 1910, 949,132 tons.
, ,
ded
uction
s
from Incom e decreased $50,173; to ta l av ailable Incom e Increased
E xceptional P aym ent nniler Lease oj D a d s Collicrv Co. —The first five years
ex p en d itu res for p erm anent Im prov em ents, ad d itio n s arm
of the lease of the Davis Colliery Co. closed on Jan. 1 1910. It Is provided $1,002,524;
b e tte rm e n ts, w hich rev ert to lessor un d er lease, increased $797,484 (irom
in the lease that during that period only so much as may be earned of the $1,475,959 to $678,475), a n d th e balance av ailab le for div idend s Increased
rental stipulated shall be paid yearly, but If not earned In any one year from $516,524 to $721,564.
,
.
and at the close of the live years the total rental for that entire time mas
T he Increase of 8147,381 In o th e r Incom e w as du e chiefly to increased
been earned, then there should be paid to the stockholders the difference receipts
from
th
e
per
diem
ren
tal
of
freig
h
t-train
cars.
A
red
u
ctio
n
In
th
e
between what they had received and the entire amount of the rental for
o u n t of in terest charges paid on equ ipm en t tru s t a n d c o n stru ction om ithe live years. This made me re «tal for tie o.tst year greater than it v,iu am
nations explains th e decrease of $ 5 0 ,173 in d ed uction s from incom e. I he
hereafter be, the amount bein'* fixed now at 880 nno annualr/.
charge
of $1,475,959 to perm an en t Im provem ents Includes th e p ro p o rtio n ate
Im provem ents . — Improvements to roads and buildings were made during
o u n t w hich Is being charged a n n u ally to incom e for second m ain tra c k ,
the year to the extent of $59,593; $48,758 for ballasting portions of the am
bridges,
signals, buildings, & c., as exp lain ed in rep o rt for 1 0 0 1 -os.
road not heretofore fully ballasted, and for the greater cost of new rails laid
Balance Sheet.— T o b e tte r m eet th e req u irem en ts of th o In to r-S ta te
of a heavier type than for the old ones replaced. There were built 5 new om
m erce C om m ission th e a ctu a l cost valu e of e q u ip m e n t on h an d Ju ly 1
cabin cars, and new bolster sills, &c., were placed upon 380 box cars, all C1909
of th e cap italized value of s u c h eq u ip m e n t ^ a a ad d ed to th e
at a total cost of $61,497; 78 freight cars were rebuilt, costing $32,588, and p ro p einrtyexcess
acc o u n t, a n d the accrued d ep reciatio n th ereo n to th a t d a te was
charged to "replacement account.”
Sutton B ranch. —The extension from Gassaway to Sutton, 6H miles, was SL T h e re 'w ere p a k l'd u rln g th e y e a r $295,000 of 5% const rue t ion notes of
completed during the year, and trains began running Jan. 10 1910. Two A pril 2 1906 a n d $166,000 of 6% c on stru ction notes of Dec. 2 1807 .le a v in g
trains carrying passengers are operated In each direction dally, and there is o u tsta n d in g as of Ju n e 30 1910 $305,000 of th e form er
a fair amount of travel between the two places.
la tte r. T o tal pay m en ts m ade d u rin g th e >eai on acco u n t of equip
E lk A Little K anaw ha IIR . —-The Inter-State Cooperage Co. owns a large of thte tru
st obligations am o u n ted to $546,528.
.... .
tract of oak tlmbc- In Braxton County. In order to develop this they are m en
To
Ju
e 30 1910 $137,370 had been exp en ded for ad d itio n al lan d s,
building the Elk & Little Kanawha HR. from Gassaway, 22 miles to and m aso nry nanti
app
ro
aches
to
th
e
new
steel
stru
c
tu
re
a
t
H
igh
B u d g e, K y.
through their property. They have purchased ground at Gassaway for a
D uring th e year $58,009 w as paid in se ttle m e n t of lum ber rep ara tio n
terminal station and a connection with the Coal & Coke Ry.. as well as foi claim
s.
I
t
Is
now
exp
ected
th
a
t
all
o
u
tsta
n
d
in
g
claim
s
of
th
a cooperage plant. It Is expected the road will be In operation the coming be a d ju ste d anil paid before th e close of th e n e x t fiscal yearis n a tu re will
year and will be a valuable feeder to your road.
M aintenance, A c .— T he charges to m ain ten an ce of w ay anil stru c tu re s
Coal L ands O w ned.— 'T he company has In Its coal properties a valuable
an increase of $190,144, or 2 3 .84% , due chiefly to charges for ballast,
asset and Its line was laid so as to transverse this coal-field, rhe ra lroad show
ties,
rail, buildings a n d labor on roadw ay a n d tra c k . D uring th e year
owns, in round numbers. 109,000 acres of coal lands and coal-mlnlng r ghts, 164,346
were placed In m ain trac k a n d 61,022 in side a n d passing
all carefully sdccted within actual coal areas, along Its route, In Randolph, trac k s, a ties
to ta l of 225,368 ties, being a n averag e of 353 ties p er m ile of roau
Barbour, Upshur, Lewis, Gilmer and Braxton counties, VV. Va. In prac­
tain ed , as ag ain st an averag e of 264 for th e previous year. 6 , 7 3 9 to n s,
tically all of these coal lands the measures are above water-level and the mor ain
50.48 m iles, of new 85-lb. rail, an d 1,609 to n s, or 13.66 m iles, of new
coal can be easily and economically mined by drift. The character and 75-lb.
ra il,w e re laid, as ag ain st 2,807 ton s, or 21.03 m iles, of new 8 5 -lb.
extent of the seams have been well established. Among them are the rail,
and 1,902 ton s, or 16.15 m iles, of new 75-lb. rail th e previo us year.
Pittsburg, Sewlckly, Masontown, Mahoning, Upper Freeport, Klttanlng 125,741
cubic yards of ballast w ere placed In tra c k , viz.: sto n e, o 0 ,n » .
and New River seams. In addition to their steam-producing qualities slag, 54,176;
, , ,In service,
, p ro tectin g
most of them are also excellent coking coals.
Ju n e 30 screenings,
1910 th e re w15,447.
ere 783 a u to m a tic, signals
Dr I C White, State Geologist of West Virginia, In speaking of the coal th eAtentire
roatl betw een C in cin nati, O ., a n d C h attan oog a, l e n n . I o ta
of this section, says: "The character of the Pittsburgh seam coal within this length of bridges
Ju
n
e
30
1910
w
as
26,203
feet
(a
decrease
for the year
area Is different from Its type In the Fairmont and Clarksburg districts, of 706 feet), viz.: Iron or steel, 24,913 ft.; w ooden trestles, 1.161
being much harder and yielding a great percentage of large blocks, which drains, 129 ft. It Is expected th a t th e new steel structure over ftth e. Kopen
would bear shipment with a minimum of waste In fine coal. The coal tu c k y R iv er a t H igh B ridge will be p u t in service not .la t e r th an _ Jan . 1 oeni l .
presents a handsome, rich black appearance, and, so far as the appearance
he charges to m ain ten an ce of eq u ip m en t acco unt for th e y e a r am o u n te
and analysis count, contains less sulphur and other Impurities than In the to T$1,592,076,
an increase of $91,779, or 6 .1 2 % , due chiefly to Increased
Fairmont region. The coal Is rich In volatile matter, and the line coal
on
passenger
made In mining would yield excellent coke. The Upper Freeport seam w ork
E
q
u
ip
m
e
n
t—
O i thea n dequfreight
ipm en tcars.
on h an d (consisting of 204 inm m ntlvM
afTords a splencled steam and domestic fuel, with no injurious quality of 85 cars In passenger
10.643 cars In freight service, a n d
ash, sulphur or other Impurities when properly mined. If we count only service cars, th ere areservice.
su bject to eq u ip m en t tru s t liens. 1
K >
1,000 tons per acre for each foot of thickness, we shall have for this legion
a n d 3 sw itching locom otives a n d 5,441 freig h t-train a n d road sc v ci
the enormous figure of eight billions of tons, at least half of which could freight
cars. T he entire locom otive equ ipm en t will be ftiW
nifil
beCoal
minedProperties
above drainage.”
.
_
.
.
.
2,400 of th e freig h t-train cars u n d er e q u ip m e n t'tru sts will bo fully palt
o) D avis Colliery Co. — The railway company has what Is and
for
M
arch
1
1911.
S
uch
equ
ipm
en
t
will
th
en
becom
e
th
e
p
ro
p
e
rty
of
th e
virtually a perpetual lease of all the properties of the Davis Colliery Co.,
and the latter Is conducted practically as the coat department of the rail­
A
gricultural
D
evelopm
ent.—
T
he
m
an
ag
em
en
t
Is
cncom
aglng
ag
ricu
ltural
way. It markets the products not only from the mines on the coal lands Im m igration a n d th e full u tilizatio n of th e ag ricu ltu ral possibilities of Its
of the railway but on its own as well, and the profit from both sources
rrito ry T he results of this policy arc becom ing a p p a re n t In a w ider
above the rental accrues to the railway. The Davis Colliery Co. owns te
o f T S l t u r e , especially along th e lines of producing m o t.
about 25,000 acres of coal lands and coal-mlnlng rights In the well-known dlversIfTcittlon
a n d vegetables, grain, tob acco, hem p a n d d a lry prod ucts.
Roaring Creek coal-field In Randolph and Barbour counties. It Is the frui>itsages.—
com pany has du rin g th e year m et th e ex p ectatio n s of Its
largest operator In that region, and one of the leading mining companies em ployees InT herespect
w ages.
EB
of the State. At Coalton, 15 miles from Elkins on the Roaring Creek A Property Investm ent—ofAIncreased
dditio ns during the Year ended J u n e 30 1910,
Bellngton R R ., now a part of the Coal & Coke R y., Is situated Its principal
N et $1,968,921.
|2j
plant. It Is of recent construction, and Is provided with all the modern A dju stm ent of equ ipm en t to cost
value as of Ju ly 1 1909, $2,183,*
machinery for mining coai and manufacturing coke. I he dally capacity
435- Im provem ents to eq u ip m en t, $11,454; to ta l--------------------- $2,l04,»o »
of this plant Is 2,000 tons of coal and 450 tons of coke. 1 he company also
™
has two plants near by, on the Western Maryland R y., one at Harding, with Less equ ipm en t retired; 6 locom otives a n d 357 freig h t-train cars;
to ta l ........................................................................................................................ 225,uoo
a dally capacity of 1,000 tons of coal and 150 tons of coke, and one at
Junior, with a dally capacity of 500 tons of coal and 100 tons of coke.
O P E R A T IO N S , E A R N IN G S . E X P E N S E S A N D C H A R G E S
These three plants are, therefore, capable of producing dally 3,500 tons of
1907-08.*!
O perations—
1909-10.
1908-09.
coal and 700 tons of coke. The Davis Colliery Co. has Its own sales offices
335
335
335 1,318,031
iles o p e ra te d __ ______
at Philadelphia, Columbus and Elkins, and branch offices In Baltimore, NM um
ber
of
passengers
c
arried
________
1,394,439
1,269,903
St.There
Louisareand15 Milwaukee.
„
_
tl
00,905,840
carried one m ile__________ 73,569,696 65,815,832
or 16 coal-mlnlng companies on the line of the road operating Passengers
2.32 Cts.
evenue per passenger per m ile_____ 2.09 cts.
2.15 cts.
somo 20 mines. At the eastern end they mine the Freeport vein, and on the TR ons
rev en ue freight m o v ed ------------- 5,062,538 A,277,SOI 4,299,001
Charleston or Elk River Division, they produce both cannel and splint coal. T ons freigh
oved one m ile------------- 964,134,907 781,79o,0o7
M arket fo r C oal. —The Coal & Coke Ry. Co., In Its geographical location, R even ue pert mton
per m ile___________ 0 73 c ts.
0.77 c378
ts, s 0.76 cts,
Is fortunate In having a market both cast and west for the coals and coke
341
-lo ad (revenue) to n s—
439
produced on Its line It reaches the lakes and other points in the Middle A veragegs train
$1.45
$1.51
per passenger train m ile—
$1.49
and Western States as well as the Eastern seaboard by the Baltimore & EE arnin
’
$2.90
$ 2 .6 *
arnin
gs
per
freight
tra
in
m
ile---------$3.22
Ohio and Wabash systems on the north and the Kanawha & Michigan G ross earnings per m ile -............. ............’ (27,00
$23,526
$23,332
(Ohl* Central Lines) and Chesapeake & Ohio on the south.




NOV. 5 1910. i

TH E CH RO NICLE

IN C O M E A C C O U N T .
1009-10.
1007-08.
1908-09.
-..$ 7 ,0 8 2 ,8 5 9 $5,995,670 55,924.807
. . . 1,536,939 1,417,496 1,554,675
373,593
. . . 416,334
378,450
38,975
35,366
O th er revenue from o p e ra tio n . ___
43.339
...$ 9 ,0 7 9 ,4 7 1 $7,826,982 87,892,050
Operating E xpenses—
$656,073
$797,598
___ $987,743
___ 1,592,076 1,500,2971 4,070,701
___ 2,499,332 2,355,639J
108,384
----- 235,339
205,254
G eneral exp en ses.
203,199
210,863
. . . 216,383
___ $5,530,873 $5,069,651 $6,028,447
___ 3,548,598 2,757,331 1,863,603
O utsid e operation s— n e t deQ clt. ----11,023
12,272
3,014
___ $3,545,584 $2,745,059 $1,852,580
237,760
221,002
___ $3,312,269 $2,507,299 $1,631,578
$377,268
____ $254,999
$101,456
ncom e from In v estm en ts, A c. ___
62,323
36,988
43,149
___ $3,604,256 $2,651,904 $2,071,160
D eductions—
___ $1,231,450 $1,232,650 $1,233,850
___ 159,043
224,255
229,809
F ederal corpo ration ta x .
16,239
___ 1,475,959
678,475
340.000
. . . 122,670
118,880
100.000
* . . 150,000
150,000
150,000
___ $3,155,361
$2,404,269
.
. . .
$2,053,659
$247,635
$17,510
B alance, su rp lu s______________________ $448,895
♦ D educted by th e com pany from profit a n d loss, b u t here show n for th e
sake of sim plicity.
B A L A N C E SH E E T JU N E 30.
1910.
1909.
1910.
1909.
Assets—
$
$
Liabilities—
$
$
Bead A equlpm’t.a8,872,5l5 7,603,875 Common sto c k ... 3,000,000 3,000,000
Mlsc. securities... 1,033,790 1,033,790 Preferred sto c k ... 2,453,400 2,453,400
Supplies A m at’ls. 442,717 392,703 5% gold notes___ 305,000 600,000
Constr.of tr’ks.Ac. 93,078 937,931 6 % gold notes___
Cash ....................... 1,134,484 420,688 Iteserve for renew­ 86,000 252.000
Item ltt ’ 8 In transit 211,460
94,524 als & lmprov’ts. 898,444 445,185
Agts. & conductors 199,615 331,083 Miscell.
reserves.. 497,972 193,251
U. S. Government 11,609
11,615 Accrued taxes___ 204,325 180,409
Bills receivable...
17,345
10,032 Equip, obligations 1,409,464 1,941,640
Individuals & cos. 294,315 273,183 Rent & lnt. accr’d 259,572 280,070
Non-adjust, claims 26,949
58,143 Unpaid vouchers. 487,668 477,272
Traffic balances.. 259,501 203,108 Unpaid
wages___ 283,003 309,437
Paym ents acct.new
Traffic balances.. 267,370 404,610
preferred stock. 370,798 427,269 D uctoIndlv.A cos. 109,105
46,613
49,944
M iscellaneous___
250.000
25,686 Bills payable____
54,317
Miscellaneous___
38,267
Profit and loss___ 62,718,580 933,419
T o ta l..................13,018,170 11,821,630 T o ta l................... 13,018,170 11,821,630
a After deducting $1,958,228 reserved for accrued depreciation of equipment.
6 After adding $1,388,434 for adjustm ent of equipment to basis of cost value as
of July 1 1909, and net miscellaneous credits, $5,841, and deducting paym ents of
lumber reparation claims, $58.009.—V. 91, d . 1095.
Operating Revenues—

Detroit & Mackinac Ry.

{Report for Fiscal Year ending June 30 1910.)
Vice-President and General Manager J. D. Hawks, De­
troit, Oct. S, wrote:

T he business of th e road durin g th e y e a r has been ste a d y an d rea so n a b ly
good. T he H illm an branch w as finished an d p u t In use in D ec.1909, an d
show s a fairly good business. T he lum ber m ark et has been poor a n d m uch
lum ber Is piled along the road a w aitin g b e tte r prices. C em ent Is bringing
good prices an d the activ e p lan ts a t A lpena an d N orth B ay C ity are busy.
M uch a tte n tio n has been d irected to the fan n in g and fru it co u n try In the
counties thro u g h w hich our road runs by th e various d ev elo p m en t bureaus,
w ith the result th a t settlers from o th e r S tates are learning of th e great value
of land an d are being a ttra c te d by th e very low prices a t w hich farm ing
la n d can still be procured, say $10 to $15 per acre.
T he new sta tio n fo r A lpena has been sta rte d an d will be finished durin g
th e year of 1910-11.
T axes continue to be ou trag eo usly high. The $103,585 paid th is year
rep resents 8.4% of o u r gross earnings a n d 25.7% of our to ta l n e t Incom e.
T his Is m ore th a n w as paid for all the Interest on th e bonds of the road and
m ore th a n tw ice th e a m o u n t paid to th e stockholders.
Indication s point t ' a good btis’ness for th e nex t fiscal year.
O P E R A T IO N S , E A R N IN O S , E X P E N S E S , E T C .
1909-10.
1008-09.
1907-08.
1006-07.
Miles o p e ra te d ----------------------364
347
348
344
Operations—
Passengers carried (N o .). 375,969
365,701
364 132
379 601
Passengers carried 1 m ile. 14,133,334 13,250,787 13,914,861 13,77o!315
R a te per pass, per m ile .. 2.105 cts. 2.141 cts. 2.049 cts. 2.004 cts.
F reig ht (tons) c a r r ie d .. . 1,228,700 1,180,742 1,289,015 1 478 450
F g t. (tons) carried 1 m . .93,364,720 83,781,632 109,329,670 122 3 4 1 7 3 7
R a te per ton per m ile____ 0.926 cts. 0.058 cts. 0.767 cts
cts.
Gross earnings per m ile ._ $3,528
$3,309
$ 3 , 4 1 1 0.768
$3,810
E arninos—
$
$
$
$
F re ig h t__________________ 804,880
800,727
844,253
046,068
P a s s e n g e r............................... 297,517
292,302
294,228
291,001
M all, express, A c_____ _
68,838
49.945
47,615
74,140
T o ta l ....................................... 1,231,244 1,148,974 1,180,096
1,311,2/4
E xpenses—
M aintenance of w ay, A c. 109,824
183,863
144,244
248,900
185,230
M alnt. of e q u ip m e n t------ 190,889
189,060
204,302
2 6,552
T raffic exp en ses-------------22,320
24,546)
466,388
T ra n sp o rta tio n ex p en ses. 392,788
371,944
422,446/
3
%
,in
o
32,087
27,068
G e n e ra l.................................
30,412
790,044
807,365 l.u lo .u o .
T o t a l _________________ 849,453
352,930
N et earn in g s...................... - 381,791
378,731
301,182
18.380
15,874
H ire of eq u ip m en t, A c___
18,314
400,171
368,804
307,045
301,184
Deduct—
92,000
In te re st on funded d e b t ..
92,000
0 2 ,0 0 0
92,000
85,345
103,585
80,288
81,262
H lllm an b r a n c h _________
41,937
88,468
37,353
40,020
H illm an branch reserve
45,256
Doss by forest fires O c t.’08
25,000
ln t. on car tr. A o th . notes
2,148
0,175
2 2 ,6 6 6
25,538
E q u ip m e n t--------------------100,206
A dditions A b e tte rm e n ts.
42,041
11,514
16,050
A lpena P ass. S ta. reserve
21.599
M iscellan eo us_________. .
2,830
11,078
2 1 ,2 0 1
9,629
D lv. on pref. sto ck (5 % ).
'-.no
4 7 KOO
4 7 .5 0 0
47,500
400,171
368,804'
418,454
295,949
Balance
d e l.21,409 sur.5,233
CONDENSED B A LA N C E SH E E T J U N E 30.
1910.
1909.
1910.
1909.
Assets—
$
Liabilities—
s
$
Road A equipm ent.. 5,656,845 5,664,777 Common
stock.........
2,000,000
2,000,000
Equipment trusts........................ 80.000 Preferred stock____ 950,000 950,000
T reas.D et. AM. Ry.
debt..............3,150,000 3,100,000
b o n d s ..................... 850,000 800,000 Funded
Notes payable............ 30,000 ___
Materials A supplies. 71,206 63,738 Equipment
80,666
1,604 Equip. A railnotes.....................
Cash ...........
603
reserve 323,734 194,042
Current acco u n ts... 39,797 49,598 Alpena Pass. Station
Miscellaneous............
579
805 reservo ...............
21,599 ______
Illllm an branch res’vo ............ 45,256
Aud. vouchers, A c .. 90,000 137,999
Taxes and m lscel... 53,697 53,286
T o ta l.......................6,619,030 6,560,583 T o ta l.......................6,619,030 6,560,583
—V. 91, p. 1160.



1247

Georgia Southern & Florida Railway.
1910.)
President W . W. Finley, Oct. 18, wrote in brief:

{Report for Fiscal Year ending June 30

General R esults.— G ross op eratin g rev en ues Increased $325,221: n e t opera tln g revenue decreased $34,671: th e balance a fte r dividends on pref. sto ck
w as $62,725, being a decrease of $49,163.
and L oss-— T he balance stan d in g a t cred it of profit and loss Ju n e
30 1910 w as $1,070,085. being an Increase of $351,529, of w hich $297,163
w as du e to a d ju stm e n t of equ ipm en t to basis of cost value as of Ju ly 1 1909
to m eet th e req uirem ents of tn e In te r-S ta te C om m erce Com m ission.
Property Investm ent.— T he road in v estm en t Ju n e 30 1910 w as $9,014,472,’
being an Increase of $129,342, du e to su ndry ad d itio n s, n o ta b ly term inal
y ard s a t V aldosta, G a., $41,866.
T he equ ipm en t Investm en t Ju n e 30 1910 w as $2,212,664, being a n e t
increase of $880,365, rep resented by th e follow ing:
A dju stm ent to basis of cost value, less dep reciatio n , of equ ip­
m en t on h an d Ju n e 30 1909, $865,908, and cost of 4 locom o­
tives an d 113 cars, A c. ($163,029)
.
. .$1,028,937
Less value of e q u ip m en t retired (2 locom otives and 222 cars)____ 148,572
. E quipm ent O bligations.— T he a m o u n t of these o u tsta n d in g on Ju n e 30
1910 w as $685,000, a n e t Increase of $426,000. C o n trac t series C, was
created d a te d M arch 15 1910, covering th e pu rchase of 15 locom ot
?te e L under-fram e box cars and 1 0 0 steel fiat cars, a t a to ta l cost
of $u87,310, of w hich $87,310 w as paid in cash a n d 4 K % equ ipm en t ob­
ligations issued for th e balance, nam ely , $500,000 (V. 90, p. 848). T he
reductions in Series A a n d B agg regated $ 7 4 , 0 0 0 .
F unded D ebt.— T he increase of $200,000 w as due to th e Issue of first con­
sols due Ju ly 1 1952 for Im prov em ents a n d b e tte rm e n ts. T hese, w ith
th e $200,000 sim ilar bonds Issued in 1908-09, a re in th e trea su ry .
M aintenance.— 7.5 6 m iles of side trac k s w ere bu ilt, m ak ing to ta l leng th
of side trac k s 88.54 miles; 7 m iles of m ain line trac k w ere relaid w ith new
J5-lb. rail. 108,249 cross-ties w ere laid, as com pared w ith 124,207 In
190S-09. 4 ,291 feet of lum ber were used in rep airin g trestles.
New E quip m en t.— C o ntracts h av e been m ad e for th e follow ing, to be de­
livered d u rin g th e early p a rt of th e n e x t fiscal year; 9 consolidation freigh t
locom otives, 4 Pacific ty p e passenger locom otives, 2 sw itching engines
2 passenger cars, 205 steel un derfram e box cars, 60,000 lbs. c ap a city . 100
steel flat cars, 80,000 lbs. c ap acity .
Situation and Prospects.— T he traffic of th e y e a r w as th e larg est In o u r
history an d th e prospects for fu rth e r dev elo pm en t a re encouraging. R e ­
su m ptio n of building operation s stim u lated th e sh ip m e n t of lu m ber, w hich
continues to be th e m o st Im p o rta n t item of tra n sp o rta tio n . A griculture,
live stock a n d m an ufactures also show sb u sta n tla l Increases. C olonization
has assum ed m ore im p o rtan ce, an d plans a re well ad v an ced for utilizatio n
of large tra c ts of land a t several points. T he follow ing Indu stries w ere
erected d u rin g th e year: 6 saw m ills, 2 c o tto n oil m ills, 3 co tto n w arehouses,
4 c o tto n gins a n d 2 tu rp e n tin e stills.
O P E R A T IO N S , E A R N IN G S , E T C .
Operations—
1909-10.
1908-09.
1907-08.
Miles o p e ra te d _____ __________________
395
395
395
Passengers carried ___________________
7 7 1 ,4 7 4
643,507
689,266
Passenger’s carried one m ile__________ 31,926,373 27,223,777 26,672,641
R eceipts per passenger p er m ile_____ 2.217 cts. 2 . 2 2 2 Cts. 2.461 cts.
T ons freigh t c arried _________
1,015,622
904,362_
867.510
T ons freigh t carried 1 m ile____________ 124,532,205 110,252.524 96,489,441
R a te per ton p er m ile________________ 1.041 cts. 1.040 cts. 1.117 c ts.
$5,879
$5,056
G ross earnings per m ile........................._
$4,971
IN C O M E A C C O U N T .
1909-10.
1908-09.
1907-08.
Operating revenues—
$
$
$
. 1,295,760 1,147,151 1,078,111
P asseng er___________ ________________ . 707,843
656,305
604,866
M all, express an d m iscellaneous____.
218,512
280,483
222,803
O th er rev en ue from o p e ra tio n ______ .
10,617
38,071
22,117
. 2,322,158 1,996,937 1,963,546
Operating expenses—
M aintenance of w ay and stru c tu re s. .. 236,673
218,010
183,842
M aintenance of e q u ip m e n t____
_
435,359
331,828
T raffic expenses ....................
I.. 497,781
63,056
70,683
63,297
822,277
892,549
761,378
G eneral exp en ses..........................I I I .I !
104,224
108,182
101,673
T o tal o p e ra tin g expenses_________ . 1,801,910
1,646,884
N et o p e ra tin g rev en u e______________ . 520,248 1,442,018
554,919
316,662
O utsid e o p eration s— n e t rev en u e___
6,442
19,036
15,149
T o ta l n e t rev en u e.................................. . 526,690
570,068
336,598
92,626
T ax es a cc ru e d ........ ................... ..................
101,525
98,607
243,971
O peratin g Incom e425,165
471,261
O th er Incom e________
194,745
51,657
.
57,988
T o tal gross Incom e________________
438,716
483,153
522,918
Deduct—
In te re st on b o n d s_______________ . .
270,975
271,000
271,900
In te re st on eq u ip m en t o b ligation s___.
17.776
9,712
13,042
A dditions a n d b e tte rm e n ts_____
16,528
9,695
O th er d e d u c tio n s.......................................
40,566
50,416
37,088
D ividends on first pref. stock ( 5 % ) ..
34.200
34.200
34.200
D ividends on second pref. sto ck (5% )
54.200
54.200
54.200
T o tal ded u ctio n s___________
434,245
420,428
420,725
B alance, s u rp lu s _____________
4,470
62,725
102,193
CONDENSED B ALA N C E SH E E T JU N E 30.
1909.
1910.
1909.
1910.
Assets—
s
Liabilities—
$
$
$
Road and equtp_al0,500,011 10 ,070,975 Stock (see “Ry. A
Cash to purchase
Ind.” Section). 3,768,000 3.768.000
equip, under eq.
Bonds (see "R y. A
tr.Ser.C. (contra) 587,310
Ind.” Section). 6,238,000 6.038.000
Securities owned.. b548,333 443,332 Equip, tr. A A B . 185,000 259,000
M at’ls A supplies. 112,981 140,453 Equip, tr. Ser. C. 500,000
Cash ....................... 30L814 321,891 Taxes not due___
48,296
51,481
Agts. A conductors 36,049
20,887 Reserve funds___
52,662
54,877
U. S. Govt, (mall)
6,032
6,042 Interest and dlvs.
Individuals A cos. 78,525
61,729 due and unpaid. 97,678
97,087
Leased rail.............. 71,016
70,874 Audited vouchers. 161,725
70,151
M iscellaneous___
83,970
94,360 Pay-rolls (June).. 71,994
69,031
81,321
M iscellaneous___ 103,193
26,223
Approp. surplus.c 26,223
Profit and loss____dl ,070.085 718,556
T o ta l...................12,326,041 11,230,543 T o ta l_________ 12,326,041 11,230,543
a After deducting reserve for accrued depreciation of equipm ent, $727,125.
b Securities owned Include In 1910 $33,531 pledged and $514,802 In treasury un­
pledged. c Appropriated surplus represents additions to property since June 30
1907, through Income, d After adding $297,163 for adjustm ent of equipment to
basis of cost value as of July 1 1909 and deducting net miscellaneous debits, $8,358;
—V. 91, p. 1160.
Virginia & Southwestern Ry.

{Report for Fiscal Year ending June 30 1910.)
President W. W. Finley, Sept. 20, wrote in part:

General R esults.— T otal op eratin g revenue Increased $59,908:lnetT operatIng Incom e (after d ed ucting taxes) decreased $18,946.
P hysical C ondition.— T here w ere laid du rin g th e year 91 ton s of new 80-lb.
rail, ag ain st 562 tons in th e previous y ear. W eight of rail in m ain tra c k
ow ned (151 miles) Ju n e 3 0 1910: 85 -lb ., 62 miles; 80-lb., 22 m .; 75-lb., 19 m .
70-lb., 7 m .; 60-lb., 41 m .: 84,326 cross-ties w ere p u t In m ain tra c k , being
an average of 558 ties per m ile, as ag ain st an averag e of 367 ties th e previ­
ous year. B allasted trac k Ju n e 30 1910: Slag. 108.18 miles; cinders, 6 m .r
to ta l, 114.18 m iles, or 75.47% of th e to ta l m ain trac k m ain tain ed . T hree
riveted tru ss sp an s of steel, su itab le for h eavy loading, w ere erected over
th e Clinch R iv er a t C ltnchport, V a. O ne 40-ft. girder w as erected a t Ellzab e th to n , T en n ., to replace w ooden stru c tu re . T o ta l leng th of bridges
Ju n e 30 1910; Iro n or S teel, 3,551 ft,; w ood, 30,407 ft.: to ta l, 33,858 ft. ^

1248

TH E CH RONICLE

T he equ ipm en t Ju n e 30 1910 consisted of locom otives, 29;passenger cars,
4; freigh t cars, 2,708; service, A c., cars, 60. Of tills equ ipm en t 4 locom o­
tives, 250 box cars a n d 750 gondola cars are covered by equ ipm en t tru sts.
A dditions and b e tte rm e n ts, charged to Incom e du rin g th e y ear, $1,012.
Lease of Rogersville B ranch.— Y our com pany has leased from th e S o uthern
R y . Co. for a te rm of 30 years from Ja n . 1 1910 th e b ranch, ex ten d in g from
B ulls G ap to R ogersviU e. T cn n ., 16 m iles, w hich, w ith th e H olsto n R iv er
line now u n d e r con stru ctio n by th is com pany , a n d connecting w ith th e
leased line a t P ersia, T e n n ., will form a connection w ith S o uthern R y .
(m ain line) a t Bulls G ap. T he cost of th e reb uild ing an d recon struction of
th e leased line w ith ligh ter grades a n d reduced c u rv a tu re Is to be assum ed
by th is com pany a n d app lied to p ay m en t of ren tal du e S o uthern R y . Co.
u n til th e to ta l cost of th e recon struction has been reim bursed.
N ew Construction.— T he H olston R iv er line from M occasin G ap, V a., to
P ersia Ju n c tio n , T en n ., will be read y for th e o p eration of th ro u g h train s
a b o u t O ct. 15 1910. T he recon struction of th a t p a rt of th e R ogersvllle
B ranch betw een P ersia, T en n ., a n d Bulls G ap, T en n ., a distan ce of 9.38
m iles, has progressed satisfactorily; th e grades a re reduced from 105.6 ft.
p e r m ile to 26.4 ft. T his e n tire bran ch will be read y for o p eration th e
V irginia A S outhw estern ab o u t O ct. 1 1910.
Industrial Progress.— T he follow ing new Ind u strial p la n ts located on this
co m p a n y ’s line w ere com pleted d u rin g th e year: Tw o Hour m ills, 4 lum ber
m ills, 2 p a n ts and overall factories, m etal m a n u fac tu rin g p la n t, d istillery,
Ice p la n t and handle facto ry .
T ra ffic.— T he coal a n d coke o p eration s In W ise a n d Lee cou nties, V a.,
w hich a re served by th e railw ay, produce 75% of th e to ta l coal a n d coke
o u tp u t of th e S ta te of V irginia: con sequen tly th e to n n ag e hauled Is m ade
u p largely of those com m odities. T h e n a tu ra l dev elo pm en t In coal op era­
tion s will fu rth e r Increase o u r to n nage of coal a n d coke. T he railw ay also
reaches th e hardw ood lum ber te rrito ry In Jo h n so n a n d C a rter counties,
T en n ., an d th e adjo ining counties of A she a n d W a ta u g a In N o rth C arolina,
from w hich th ere Is y et to be shipped a large a m o u n t of lum ber. T he m ove­
m e n t of coal, coke a n d lum ber p rod ucts has been satisfacto ry and th e p ro s­
pects are favorable for a g re ate r to n n ag e of tho se com m odities in th e fu tu re.
A p p ro xim ately 77% of th e to ta l ton n ag e of th e line Is m ade up of coal and
coke a n d ab o u t 11% of lum ber a n d forest p rod ucts. T he m an u factu rin g
a n d com m ercial In terests of th e com m unities served Indicate grow th and
d ev elo p m en t, from w hich ad d itio n al traffic m ay be reaso nably expected.
n ages .— 1T he com pany has du rin g th e y e a r m et th e ex p ectatio n s of Its
em ployees In respect of Increased w ages.
Property Investm ent A ccount— A dditio ns Aggregating $1,015,978.
H olsto n R iv er line extension ($711,475) a n d o th e r a d d ’ns A lm p ts_$ 73 1,508
C ost valu e of equ ipm en t on han d Ju ly 1 1909 In excess of value
show n In equ ipm en t a cc o u n t, $322,608; less eq u ip m en t retired
. . 284,470
d u rin g y ear, $38,138............. ..........................................
O P E R A T IO N S , E A R N IN G S , C III R O E S , E T C .
1907-08 .“*1
1908-09.
1909-10.
188
170
A verage m iles o p e ra te d ______________
188
249,818
236,608
P asseng ers c arried ___________________
242,831
P assengers carried one m ile_________ 4,660,895 4,619,689 5,320,461
2.96 Cts.
2.71 cts.
A ver, receipts per pass, per m ile____ 2.91 cts.
T ons carried (revenu e)_______________ 1,609,185 1,545,412 1,310,147
T ons carried one m ile (rev en u e)______115,754,651 108,721,112 86,290,481
0.88 Cts.
1.01 cts.
A ver, receip ts per ton per m ile______
0.88 cts.
$6,032
86,258
G ross earnings per m ile ______________
$6,350
$
$
O perating revenues—
$
959,576
860,775
1,020,458
F reig h t ..............
136,906
P assen g er_____________________________
135,801
144,451
32,364
34,696
33,787
M all, express, A c____________________
O th er rev en ue from o p e ra tio n s___________________ 5,236 7,440
14,487
. 1,196,194 1,136,286 1,062,500
Operating expenses—
159,953
165,777
144,354
Maintenance of way, Ac___________ .
227,697
285,067
271,202
Maintenance of equipment_______ .
12,204
16,250
12,123
Traffic expenses_________________ ..
344,825
305,943
Transportation expenses__________ _ 353,900
49,149
39,465
44,655
General expenses_________________ .
.
846,594
812,316
773,654
S^Total operating expenses.
..
349,600
250,184
362,632
Net operating revenue____
.
55,157
42,909
49,243
Taxes accrued____________
..
294,443
313,389
207,275
Operating Income___ 1___
..
73,410
72,566
119,182
Hire of equipment—balance.
2,917
.
12,155
10,348
Rentals, Interest, A c.............
329,374
396,303
Total gross income_________ .. 380,008
D educt—
23,465
22,392
30,293
Rentals, Interest, discount, Ac. ..
20,000
Replacement of trestles_______
169,524
..
235,101
238,876
69,893
..
1,012
15,545
Additions and betterments.
261,800
297,886
..
266,407
Total deductions.
67,565
..
113,001
08,417
Balance, surplus__
B A L A N C E SH E E T JU N E 30.
1910.
1909.
1910.
Liabilities—
8
V' Assets—
S
S
Road and equip._a8,813,769 8,185,720 Capital stock____ 2,000,000 2 , 0 0 0,000
Funded deb t____ 7,000,000 7,000,000
Fund for construe.
Equip, obligations 120,000 163,750
Holston Illver
743,532 Res. for m alnt. of
e x te n sio n ____
81,764 way, &c_______ 142,507 150,000
M at’l A supplies.. 84,016
3,123
12,397
MIscel. securities. 448,991 448,991 MIscel. reserves__
Int. due A accrued 111,367 108,551
Advances & special
23,365
Taxes accrued___
27,414
s* deposit for revls.
Bills payable for
V Rogersv. branch 312,626
Disc, onsecur. sold 215,599 220,114 Rogersv. branch 300,000
28,467
32,209
Cash ........
312,879 235,047 Unpaid wages___
11,143 Audited vouchers. 65,390 209,196
Leased rail a c c t..
11,143
33.694
83,817 Individuals A cos. 31,543
Individuals & cos. 66,658
85,438
5,735 Approp. surplus.. 686,450
Miscellaneous___
4,576
P rolltandlosa___ 341,580 210,279
T o ta l.................. 10,270,857 10,015,863 T o ta l....................10,270,857 10,015,863
a After deducting $513,999 reserve for accrued depreciation of equipment.
6 Appropriated surplus represents additions to property since June 30 1907,
through Income.—V. 89. d . 1341.
_ , ... f e r n . i
Alabama & Vicksburg Railway.
30 1910.)
President 1). D. Curran, Aug. 5 1910, wrote in substance:

(R eport fo r F isca l Y ea r ending Ju n e

P hysical C ondition.— Of th e 142.78 m iles of m ain trac k , 116.28 m iles are
laid w ith 75-lb. rails a n d 26.50 miles w ith 60-lb. rails. D uring th e year
th ere w ere laid In m ain trac k 12.81 m iles of 75-lb. rails, replacing old 00-lb.
rails. N et Increase In sidings, 7 m iles. T here a re 18,465 ft. of bridge
stru c tu re In th e m ain trac k , of w hich 2,369 ft. a re steel and 16,096 ft. wood;
also 070 ft. of trestles on side track s. D uring th e year one w ooden trestle
w as extend ed 106 ft. In leng th, one trestle w as sh orten ed 990 ft. and one
trestle 180 ft. In length w as filled. Since Ju n e 30 1886 th e length of w ooden
bridges a n d trestles has been reduced from 27.381 lineal feet to 16,096
lin eal feet, and 236 trestle openings h av e been closed.
T he com pany ow ns 32 locom otives, 30 passen ger-train cars an d 1,305
fre ig h t and o th er cars. D uring th e year 42 cars w ere purchased and 43
cars w ere destroyed or sold. D uring th e last ten years th e freight equip­
m e n t h as Increased from 608 cars to 1,276 cars, an Increase of 110% , while
th e carrying cap acity has been Increased from 16,150 ton s to 40,380 ton s,
o r 150% .
Stock D ividend.— On .Tunc 10 1910 th e cap ital stock w as Increased from
$1,050,000 to $2,100,000 and th e lncreaso d istrib u te d to th e stockholders
pro ra ta , to cover th e cost of ad d itions and Im provem ents to th e pro p erty
from Ju ly 1 1899 to Ju n e 30 1909, th a t w ere chargeable to cap ital, but
w hich w ere paid for o u t of Incom e. T he ad d itio n s a n d Im provem ents so
capitalized were: M eridian freight sta tio n , 8167,763; o th er buildings,
$52,830; add itional side track s. $93,084; raising grade, 853,095; 16 loco­
m otives, 12 passenger cars, 593 freight cars a n d 11 w ork cars, $682,815;
real e state, $65,904; to ta l, $1,115,492.
General R esults.— T here Is an Increase In o p eratin g revenues of $145,993,
o r 9.56% ; a decrease In o p eratin g expenses of $48,086, or 4.0 4% ; a n In­



[V O L. LXXXXI

crease In tax es of $2,651, or 5.30% ; a n d an Increase In n e t o p eratin g
revenue of $191,428. Passenger revenue show s an Increase of $35,099, or
8.13% ; w hile th ere Is a ste a d y grow th In th ro u g h trav el, th e local passenger
traffic Is still considerably less th a n In 1906-07.
F reig ht rev en ue show s an Increase of $105,596, or 10.76% . T here were
Increases of $32,119 In m erchandise, $63,737 In lum ber, $10,515 In stav es,
530,663 in coal a n d coke, $9,123 In m achinery, $9,921 In Hour and m eal and
$6,702 In fertilizers, w hile th ere w ere decreases of $44,965 In c o tto n , $6,733
In co tto n seed and $17,636 In provisions.
O perating E xp en ses.— T he p rop erty has been well m ain tain ed and 3%
on th e original cost of all existing locom otives and cars has been charged to
expenses a n d credited to dep reciatio n of equ ipm en t. E xpenses for m ain­
te n a n c e Include a p o rtio n of th e cost of renew al of 12.81 miles of 60-lb. rails
w ith 75-lb. rails, th e valu e of th e excess w eight being charged to ad d itio n s
and b e tte rm e n ts. 30,751 cu. yds. of slag w ere used In rep air of ballast,
97,581 ties w ere replaced a n d 30,076 cu. yds. of e arth w ere used In restoring
b an ks. M aintenance of equ ipm en t expenses Include $41,4 60 for deprecia­
tion on eq u ip m en t. T ne Increased traffic has been handled w ith little m ore
tra in m ileage a n d correspondingly sm all Increases In tran sp o rta tio n expenses.
Balance Sheet.— P ro p e rty Investm en t acco u n t has been re-sta te d to con­
form w ith rec e n t req uirem ents of th e In te r-S ta te Com m erce Com m ission
by charging to cost of road: (1) ad d itions a n d b etterm en ts charged during
1908 a n d 1909 to c u rre n t Incom e, $158,877; a n d (2) equ ipm en t pu rch ased
d u rin g th e sam e years a n d charged to rep lacem ent fund , $ 2 5,i60 . T he
sam e acco unt has been reduced by $35,885, th e a m o u n t held In rep lacem ent
fund a t Ju n e 30 1907 to cover th e cost of replacing equ ipm en t retired and
n o t replaced a t th a t d a te .
A dditions and Betterm ents.— T he expen ditu res on this acco unt aggregated
$142,951, a n d Include: Item s provided from accu m ulated n e t rev en ue,
$59,253; Item s provided from c u rre n t Incom e, $83,698.
O P E R A T IO N S A N D F IS C A L R E S U L T S (143 M IL E S ).
1906-07.
1907-08.
1908-00.
O perations—
1909-10.
420,181
462,688
462,115
Passengers c arried ------- . 488,106
P ass, carried one m ile. . 18,475,043 16,998,056 18,055,880 16,525,218
2.69 Cts.
2.56 cts.
2.54 cts.
R a te per pass, per m ile . 2.53 cts.
889,017
914,201
857,131
T ons fg t. carried (rev.). . 1,067,845
T ons fg t. carried 1 m ile .106,692,877 93,003,858 85,271,990 89,940,234
1.11 c ts.
1.10 c ts.
1.05 cts.
R a te per ton per m ile. . 1.02 cts.
$10,874
$10,571
$10,674
Gross earnings per m ile . S11.695
1907-08.
1908-09.
1909-10.
E arnings—
$462,558
. $466,681
$431,582
P asseng er______________
933,841
1,086,629
981,033
F reig h t _______________
115,316
113,742
. 119,040
M all, express, &c_____
$1,672,350 $1,526,357 $1,511,715
E xpenses—
$244,465
$250,647
M aintenance of w ay a n d s tru c tu re s ... $243,645
296,078
. 266,816
322,682
37,465
.
46,002
T raffic expenses------------40,549
563,996
. 521,102
515,030
T ra n sp o rta tio n expenses .
60,967
60,708
G eneral exp enses_________
.
63,910
40,605
50,070
.
52,721
T a x e s ____________________
.$1,104,256 $1,239,602 $1,243,576
(82.26)
(81.221
Per cent exp. and taxes to earnings... (71.41) $286,665
$268,139
. $478,094
84,120
72,763
. a84,371
Other Income.
$352,259
$359,428
. $562,465
D educt—
b$9,040
$8,522
.
$9,095
R en tals, A c---------112,018
. 111,341
l i 1,810
In te re st on b o nd s.
73,500
. 147,000
73,500
D ividends (7% ) —
$195,158
. $267,436
$193,832
$157,101
$165,596
. $295,028
a O th er Incom e Includes In 1909-10 ren tals a n d hire of equ ipm en t (bal­
ance) aggregating $58,915; Interest on c u rre n t acco unts, $25,450. b In ­
cludes loss on dining car op eration s, $1,403.
B ALA N C E SH E E T JU N E 30.
[Owing to change In form of balance sheet, comparisons are Inaccurate.]
1910.
1909.
1910.
1909.
Liabilities—
S
S
Assets—
S
3
Road A equipm ent.a 1,600,134 3,603,400 Common stock____ 2,100,000 1,050,000
Premium on sto ck ..
1,000
Stock of prop’y cos.. 33,700\ 35,SS5 Bds.
(see R.AI.Hec.)2,023,700 2,030,200
Physical property.. 12,010/
42,962 58,465
- ‘bals
Ac.,
Materials, A c _____ 69,127 49,967 Traffic,
170,276
Cash . . . _________ 781,382 685,055 Vouchers and wages. 105,6651
MIscel.
accounts----Loans A bills rcc’le. 13,001 18,015 Replacement rolling 43,887/
7,012 59,441
Traffic, A c., b a ls ...
10,725
Agts. A conductors. 20,032 15,196 stock fund_______ ............ 72,834
of equipm’t
Miscel. accounts___ 29,626 25,603 Deprcc’n
Accrued Interest, Ac. 28,396 27,952
163,755
Accrued taxes............ 24,549
O th.'def. deb. item s. 62,095
Land sales account-. ............ 245,236
V.AM. 1st M. sk. fd.
147,465
Operating reserves.. 50,992
Oth. dcf. cred. Items 20,912
393,747
b902,073 668,009
T o ta l....................... 5,797,883 4,493,162
a After deducting reserve for accrued depreciation, S ill,912. b After adding
$984,450 for additions and betterm ents ($825,573 expended prior to and S158.877
since June 30 1907—see above) and deducting SI,050.000 common stock Issued
June 10 1910 to stockholders pro rata and making miscellaneous credits and debits.
—V. 91, p. 1159.
R e a d in g C o m p a n y .
( B a la n c e S h e e ts o f J u n e .‘50 1 9 1 0 .)
T h e t e x t of th e a n n u a l r e p o r t a n d c o m p a ra tiv e s ta te m e n t
o f e a r n i n g s w e r e g iv e n in t h e “ C h r o n ic le ” o f S e p t . 2 4 , p a g e s
7 8 5 , 7 9 3 . T h e b a l a n c e s h e e t s o f J u n e 3 0 f o llo w :
R E A D IN G C O M P A N Y B A L A N C E S H E E T J U N E 30.
1910.
1909.
1908.
A ssc Is
§
$
$
R ailroad eq u ip m en t______ ______
33,783,761 32,910,348 32,940,289
F lo atin g eq u ip m e n t_________________ 3 , 7 0 8 , 8 1 8
3,455,312 .1,026,852
E q u ip m en t acc o u n ts____________
8,015,053
9,059,028 10,956,023
R eal e sta te __________________________ 10,875,169 17,092,57 j 17,084,705
P h lla. & R eading R y . bonds ow n ed . _ 20,000,000 20,000,000 20,000,000
B onds of su n d ry com panies__________ 25,540,956 24,296,973 2 3 ,0 6 6 ,ll6
P h lla. & R eading R y . sto ck o w n e d .. 20,000,000 20,000,000 20,000,000
P . & R . Coal A Iro n stock ow n ed ____ 8,000,000
8,000,000 8,000,000
S tocks of su n d ry com panies__________ 53,i41,441 52,757,677 5 2 ,6 9 5 ,lil
P h lla. & R eading Coal & Iro n Co------ 75,395,787 74,800,255 75,241,270
S u ndry railro ad s, A c .. ............. ............... 2,976,718
2,219,955 2,193,738
C a s h ..............................
5,255,586
5,300,112 2,724,865
A ccrued Incom e______________________
355,864
432,026
389,893
P h ilad elp hia A R eading R y _________
______
230,441
---------M iscellaneous ________________________ 1,144,428
390,822
531,299
T o ta l................................................................274,253,582 270,057,523 268,850,761
Liabilities—
S tock (see " R y . A In d u s.” scctlo n )-.1 4 0 ,0 0 0 ,0 0 0 140,000,000 140,000,000
B onds (sec “ R y . A In d u s.” sectio n ).109,001,950 109,032,539 106,054,538
C o nting ent a c c o u n t-______ ___________ 1,538,595 1,538,595 1,537,090
A ccrued Interest and taxes (e s t.)____ 2,813,091
2,743,177 2,647,145
P h ilad elp h ia A R eading R y _________
112,175
---------34,232
E . T . S to tcsb u ry (un ad ju sted balance
■
for new equ ipm en t p u rch ased )____
- ...........
.............
C urrent b u siness_____________________
692,851
30,681
361,190
M isc ella n eo u s______________
899
360
593
P rofit an d loss, su rp lu s______________ 20,094,021 17,612,172 14,260,446
T o tal liabilities......................................... 274,253,582 270,057,523 268,850,761

P H IL A D E L P H IA &. R E A D IN G R Y . B A L A N C E S H E E T J U N E 30.
[Ow ing to chang e In form of balance sh eet, com parisons w ith m a n y Item s
n earlier years a re Inaccurate.]
1909.
1908.
1910.
A. SS6tS~~^
§
§
5
R o ad an d e q u ip m e n t________________ a99,808,609
94,657,754 94,546,252
099,808,009
1,246,853 1,246,853
N o rth P e n n sy lv an ia R R . sto ck _____
M arketable se c u rities________________ 1,266,110
815,500
588,500
C a s h _________________________________ 5,350,103 3,652,891 2,652,206
554,924]
A dv an ces to p ro p rie ta ry , & c., cos___
T raffic, &c., b alances________________ 4,521,059) 6,520,846 6,609,671
D ue from a g e n ts_____________________ _________
2 ,1 15.413J
M aterials on h a n d ____________________ 3.356,434
3,350,434 2,331,178 2,891,746
L oans a n d bills receivable_____
236
138,305
138,305
367,644
S u b w ay loan securities, &c . .
367,644
12,049
14,069
29,966
A ccrued Incom e on securities . __
1,034,409 1,048,842 1,051,195
In su ran ce fu n d _____ _______
E lev atio n of trac k s, &c_____ .
487,489
49,130 ______
O th e r deferred d e b it Item s_____
____________
____________
T o ta l a sse ts_________________________ 1 1 8 ,008,470 110,793,882 110,009,827
Liabilities—
S to c k ________________
20,000,000 20,000,000 20,000,000
B onds (see " R y . & In d u s.” se c tio n ).- 07,881,752 70,359,452 70,287,452
B o nded , & c., d e b t m a tu re d _________ 2,545,700
199,831
243,106
Mortgages and ground rents_____
246,677
Unpaid vouchers and pay-rolls--------- 3,911,933 2,831,512 2,566,329
403,293
Interest and rents matured_________ 3,004,852
383,290
388,003
Traffic balances & miscellaneous accts
3,104,159 2,841,970
Interest, taxes, rents, &c., accrued.. 1,502,101 1,700,712 1,724,336
W llm lngton & N orthern e q u ip m e n t-.
320,041
320,041
O p eratin g reserves...........................
1,392,069 1,021,157 1,021,157
In su ran ce fu n d ------------------------------------ 968,284 1,048,842 1,051,190
O ther deferred credit Item s__________
71,052
A p p ro priated su rp lu s-----------------64,814,043
S u rp lu s....................... - ..................................... 11,372,906 _______________________
9,721,612 10,162,067
T o ta l liabilities______________
118,068,470 110,793,882 110,609,827
a F o r d etails in 1910see V. 01, p. 798. 6 A p p ro priated surp lus represent^
ex p en ditu res on p ro p e rty th ro u g h Incom e since Ju n e 30 1907 a n d charged
a s a n asset.
P H I L A . & R E A D . C O A L & IR O N CO. B A L A N C E S H E E T J U N E 30.
1909,
1910.
A ssets—
$
Coal la n d s ....................
50,385,196
T im ber la u d s.................................................
N ew Y ork a n d E astern d e p o ts______
W estern yards a n d d e p o ts___________
M iners’ an d o th e r h o uses____________
P o ttsv llle shops, real e sta te, & c_____
S torage yards a n d w asherles_____
O th er real e sta te _______________ .
Im p ro v em en ts and equ ip, a t collieries 12,959,’224
S tocks a n d bonds of cos. c o n tro lle d -. 9,563,915
Cash on h a n d ....................................
078 200
Coal a cc o u n ts__________________ . _ 3 , 1 0 0 ) 4 7 5
R e n t a cc o u n ts______________
3 5 )2 2 8
C om panies and In d iv id u a ls _________
734,917
Coal on h a n d _________________________ 3,817,482
Supplies an d m aterials on h a n d _____ 1,400,980
D epletion of coal lan d s fu n d ________
300,004
S tocks, bonds & m tg es. ow ned, & c . . _ 72,905
T o tal a sse ts................................................ 88,214,307
Liabilities—
C apital s to c k ------------------------------------ 8,000,000
B onds (see “ R y . & In d u s.” se c tio n ). 1,170,000
R eadin g C o m p a n y ---------------75,395,787
980,244
P ay-ro lls an d v o u c h e rs______________
P h lla. & R eadin g R y . c u rre n t acco u n t
564,933
In te re st, taxes a n d m iscellaneous____
711,908
P ro fit a n d loss--------------------------1,301,435
T o ta l lia b ilitie s........................................ 88,214,307 88,153,243 89,291,919
— V . 91, p. 785, 793, 95.

B A L A N C E S H E E T S E P T . 30.
1910.
1909.
1910.
1909.
Assets—
Liabilities—
$
S
$
S
Construction, &c_ 5,004,239
Capital
stock____
4,844,296
10
, 000,000 10 ,000,000
Equipm ent, &c__ 5,334,452 5,183,081 Bonds .............. .. 4 ,420,000 4,420,000
Heal est. & bldgs. 2,198,733 2,119,781 M ortgages_______
1,863
6,035
Stocks & bonds of
Accounts & wages 207,732 199,284
other companies
3,649,434 Int. on bds.&loans 75,530
75,645
Stores___________ 3,672,474
336,408 244,194 Tax on earnings.. 290,387
271,474
Accts. receivable 115,673
97,868 Employees’ secur’s 18,700
18,480
Cash in bank and
Unclaimed divld’s
1,957
1,957
on hand_______ 930,084 1,118,213 Unredeemed
tickets
69,100
59,327
Fire Insurance fund 395,598 415,398 Suspense account. 298,245 269,801
Montreal Park &
Dividend Nov. 2 .. 250,000 250,000
Island Ity. Co.
Montreal Term .Ry. 19,538
advances______ 654,109 564,790 Contingent
account 83,541
30,537
Montreal Terminal
Fire Insurance fund 521,560 470,109
Ry. advances..
14,813 S u rp lu s.............. 2 383,011 2,179,218
T o ta l...................18,641,770 18,251,868 T o ta l.................. 18,641,770 18,251,868
S T O C K S A N D B O N D S , &.C.. I N T R E A S U R Y .
_
B onds.
Stocks.
M ontreal P a rk & Island R y . C o-------------------------- $1,025,000] $720,900 com .
M ontreal P a rk & Island R y . Co. overdue Interest
) 315,000 pref.
(not Included in a sse ts)_________________________ 812.973J
M ontreal T erm in al R y . C o ---------------------------------- 613,000
1,000,000
S u b u rb an T ram w ay & P ow er C o ________________ 850,000
850,000
T o t a l -----------------------------------------------------------------$3,300,973
2,885,900
E A R N IN G S O F M O N T R E A L P A R K & IS L A N D R Y .
^ Y e a r__
Contingent F ixed Preferred Balance,
'
af
~
‘l aJJl*nVs; W arnings, for Renew. Charges. D ividend. D eficit.
1909 ------------$110>8
'8
$25,000 $135,211 §18,900 §68,233
190
----------- 230,493
25,000 123,255 18,900 85,098
1907-08_______
277,634 S2.057
96,146 25,000 110,325 18,900 58,079
219; accrued
interest on bonds, $864,700; and cumulative dividends on pref'
Stock,
$238,431.
T he gross earnings of th e M ontreal T erm in al R y . for th e fiscal y ear
1909-10 w ere $132,313, ag ain st $108,616 In 1908-09; n e t, $24,532 ta x on
e a rn s., $1,372; bond in t., $36,439: b a l., def., $13,279.— V .91, p.1160, 871.
Allis-Chalmers Co., New York.
30 1910.)
President W. H. Whiteside, Milwaukee, O ct.l 1910,wrote:

(R eport fo r F iscal Y ea r ending J u n e

General R esults.— In an in d u stry like ours, w hich Is largely th e m an ufac­
tu re of h ea v y m achin ery req uiring tim e to build, erect a n d te st to com ple­
tion, th e results of each year m u st depend to a degree up o n th c previous
y ear's dem an d. As no ted in o u r last rep o rt, business booked began to
im prove durin g th c la tte r half of th e year ending Ju n e 30 1909, a n d th is
Im provem ent has continued du rin g th e p a st year, th c sales invoiced a n d
orders booked being, respectively, 29 H % an d 40% In excess of th c previous
period. Of th e sales Invoiced for th e year, a b o u t 55% w as for new lines
of business w hich th e com pany has recen tly developed, an d of these new
lines a b o u t 75% w as electrical.
T he sum s a p p ro p riated from th c gross earnings of th e year for m a in ten ­
ance. b e tte rm e n ts an d reserve for depreciation h av e been liberal for th e
purpose. F rom thes" earnings hav e also been ded u cted all ex p en d itu re
for th e pu rch ase a n d p rotection of p a te n t rig h ts a n d th e en tire developm ent
of new lines of m ach in ery d u rin g th e year.
W hile th e re has been an Im provem ent in th e earnings of th e c o m p a n y
du rin g th e fiscal y ear, th e variou s w orks h av e been o p erated a t less th a n
60% of th e ir present cap acity . D ue to th e u n settled business conditions
of th e co u n try , th ere h as been a v ery sm all dem an d for h ea v y m achin ery,
w hich restricted th e com pany’s o p eration s largely to th e ligh ter lines, a n d
th u s necessitated considerable developm ent of new lines a n d ty p es of th e
sm aller m achin ery, for w hich th e re has been a fair dem and
T he u n se ttle d conditions referred to , w hich h av e d isap po inted th e
ex p ectation s expressed In o u r eighth a n n u a l rep o rt, still o b ta in , b u t y o u r
Montreal Street Railway.
com pany Is now b e tte r able to c o p e w ith them , du e to rea d ju stm en ts and
(R eport fo r F iscal Y ear ending S ep t. 30 1910.)
Im provem ents In m eth ods m ad e possible by Im p o rta n t ad d itio n s to Its
President L. J. Forget says in substance:
W est A llis W orks W hile th c d u ra tio n of th e p"eSe n tg c n e ra ld e p re ss!o n
can n o t be foretold w ith c e rta in ty , th e Inquiries a n d n eg otiation s In h an d
General R esults.— T he gross earnin gs Increased d u rin g th e y e a r $477,713, Ju
th e hope th a t business will soon regain g re ate r steadin ess to th e end
V 'e o p e ra tin g expenses §200,282, or 8 .8 8% , th e n e t earnings th stify
a t uniform bookings m a y o b ta ln to th e full cap acity of yo ur presen t p lan ts
f th e rhprevious
e p e rc e nyear.
t of expenses to gross earnings Is 50.41% ,
Statem en t b y C o m p tro lle r W . A . T h o m p s o n .
a g a in st 58.20% for
T hc n e t profits am o u n t to $495,732, com pared w ith $135,432 th e p re ­
R ailw ays. D uring th e p a st y e a r th e com pany secured an
ceding
year,
n
o
tw ith sta n d in g th c liberal exp en ditu res m ad e for th e m ain­
it0 iVs c'la rte r au th o rizin g th e con stru ction a n d operation of
railw ays. P relim inary plans for th e co n stru ctio n of th e tenance an d up-keep of th e various p lan ts, am o u n tin g to $987,420, com ­
p
ared
w
ith
$668,218
previous year, a n Increase of $319,201; and th e
d u rin g th e c o m m ^ y c a r ^ a “ d th e (luestIon w m bc ta k e n up w ith th e city reserves se t aside o u t thofe earnings
fo r dep reciatio n of p la n t a n d equ ipm en t
New R outes.—-O w ing to th e continued rap id grow th an d congestion of of $381,247, a s ag ain st $284,777, an Increase of $96,470.
T here has been no change In th c sta tu s of th e 1st M. bonds o u tstan d in g ,
Stene tp
itw’
h
JphUw
m
iiS<
5inf8
a,?}In
too
k
UP
th
e
qu
estion
of
securing
a
d
d
itio
n
a
l
te s ^mf&W OiddBBlleve th e p resent congestion, b u t reg ret th a t no definite th a t Item rem ain ing a t $11,148,000; b u t th e trea su ry bonds h av e been
by $563,000. T hese bonds w ere a u th en tica te d by th e tru ste e
difficulties of onefation J
y ° C ity‘ T hc de,ay llas a(Uled to thc Increased
an d a re av ailab le for sale to reim bu rse th e trea su ry for cash ou tlay s m ad e
P ares.— The Suprem e C ourt of C anada has rendered Judgm ent in fav or durin g th e year for ad d itio n al fixed p ro p e rty a n d p la n t.
of th is c om pany’s ap p eal from the decision of th e R ailw ay C om m ission for
C anad a, relativ e to th e rate s of fares from Cote des N eiges to th e eitv C O N SO L . P R O F IT & L O S S A C C O U N T F O R Y E A R E N D IN G J U N E 30.
T he city lias app ealed to th e P rivy Council.
gCS t0 th e c lty ’
1909-10.
1908-09.
1907-08.
1906-07.
Negotiations .— D uring th c p a st year n eg otiation s w ere en tered Into P rofit on o p e ra tio n s____*$2,576,818
*$1,809,009 *$2,573,961 *$ 1 , 2 2 6 , 2 4 2
betw een your d irecto rs a n d th e d irecto rs of thc M ontreal L ight Ilc a t t- C harges for m ain ten an ce
P ow er Co., w ith a view of bringing a b o u t closer relation s betw een th e tw o
and renewals
__
987,420
668,218
778,477
854,503
com panies. The schem e su b m itte d did n o t, how ever, receive the su p p o rt .D epreciation..................
381,247
284,777
313,778
253,988
of th e shareholders of c ith e r com pany to th c e x te n t a n tic ip a te d a n d lias Interest on bonds, loans
been aband on ed . [As to control by C anadian L ight & P ow er Co. Interests
a n d notes payab le...
712,419
720,583
805,892
505,049
sec a subsequ ent pag e.— E d.]
’ Special
reserve________
______
______
60,000
Sh op s.— The new shops for th e con stru ction an d rep air of cars, &c., arc
to bc com pleted du rin g th e com ing year, a n d will bc m ost com plete.
T o tal ch arg es...................$2,081,086 $1,673,577 $1,958,147 $1,613,540
Taxes.— The com pany has paid to the c ity ta x e s an d percentages on
for y e a r. .s u r .$495,732 sur.$135,432 sur.$615,814 def.$387,298
earnin gs a m o u n tin g to $387,204, on acco u n t of snow rem ov al $50,919, TNoott. earnings
su rp . previous year
521,429
385,997 d e f.229,817
157,481
a to ta l of $438,183, being a n Increase over th c previous year of $51,998.
A dditional Power.— The com pany recen tly received a proposition from B a ls a s per b al. s h e e t.s u if l ,017,611 sur.$521,429 su r $385,997 def.$229,817
th e M ontreal L ig h t, H e at & Pow er Co. offering to m ake a c o n tra c t to
furnish a d d itio n a l pow er to th is com pany. Y our d irecto rs decided to
T he profit on operation s w as o b tained a fte r d ed ucting cost of m an ufac­
leave th c m a tte r to the Incom ing board.
tu rin g , selling, tax es. Insurance, dev elo pm en t, re-deslgnlng a n d o th e r
50- Year S yn o p sis.— 'I’hls being th e 50th year of o p eration , a synopsis of general expenses; also dividends on preferred sto ck of th e B ullock E lectric
th c h istory of thc com pany is annexed to thc rep o rt.
M anufacturing' Co., a n d provision for d o u b tfu l acco unts
Sub-C om panies.— T hc M ontreal P ark & Island R y . show s In gross
CONSOLIDATED B A LA N C E SH E E T J U N E 30.
warnings an increase of $57,271 an d in o p erating expenses a n increase or
$28,450, th e n et resu lts being $85,878, against $57,058 for th e previous
1910.
1909.
1910.
1909.
„ 1 he gross earnin gs of the M ontreal T erm inal R y . Co. Increased
Assets—
S
S
Liabilities—
S
good-will,
Preferred sto c k ... 16,050,000 16,150,000
th e previous year*01 suri5*us *or ttie year w as $23,160, ag ain st $5,477 for Plant,
& c ....... ..............38,335,395 37,548,053 Common sto c k ... 19,820,000 19,820,000
Bills & accts. rec’le 4,841,089 4,721,052 First M. 5s outst’g 11,148.000 11,148,000
R E S U L T S F O R F IS C A L Y E A R S .
Work In progress,
Bullock Mfg. Co.
„
, .
1909-10.
1908-09.
1907-08.
1906-07.
merchandise,&c. 8,503,635 5,580,447 outst’g sto ck ...*1,170,700 *1,170,700
P assengers c arried --------107,241,406 95,370,373 90,740,032 80,741,212
Experimental and
T ra n s fe rs ---------------------- 36,437,123 32,285,208 30,343,113 28,075,250
Accounts payable. 2,125,154 1,206,501
developm’t exp. 1,318,092 1,318,092 Notes payable___ 3,655,000
$
«
$
$
G ross rec e ip ts--------------- 4,352,551
Disc.&com.on bds. 2,683,189 2,683,189 Accrued bond int. 278,700 2,400,000
3,874,838 3,077,432 3,503,043
278,375
Cash ___________ 1,178,132 2,299.017 Deprec’n reserve.. 1,955,823 1,714,845
O peratin g exp en ses____ 2,455,301 2,255,019
2,158,394
2,104,053
P .C .op . exp . to car earn s
(50.41)
Securities ow ned.. 361,006 260,000 S u rp lu s................... 1,017,161 521,429
(58.20)
(58.69)
(00.07)
N et earn in g s-------------- 1,897,250 1,619,819 1,519,038 1,398,990
I n t. from M. P . & I. R y .
85,878
T o ta l...................57,220,538 54,409,850 T o ta l...................57,220,538 54,409,850
55,607
72,011
55,101
T o ta l Incom e_________ 1.983,128 1,675,426 1,591,049 1,454,091
* Includes $1,170,000 preferred, guaranteed 6% per annum; also $700 common,
D educt—
the remaining $1,499,300 common being owned by the Allis-Chalmers Co. and
P . c. of earnings to c ity .
278,085
deposited
under Its mortgage of 1906.—V. 91, p. 277.
260,203
242,431
214,840
I n t. on bonds am i lo a n s.
175,421
179,725
207,187
195,833
R e n ta l of leased lines—
0,472
5,821
5,020
3,000
American Malt Corporation.
48,000
T a x e s ....................................
a
D ividends (1 0 % )______ 1,000,000
976,332
900,724
(O
fficial
S tatem en t of October 28 1910.)
768,100
C onting ent fu n d ________
250,000
175,000
175,000
171,517
F ire Insurance fu n d ____
25,000
Pres. Charles A. Stadler, N Y ., Oct. 25 1910, wrote in brief:
25,000
25,000
25,000
o u r la st rep o rt to you, d a te d O ct. 25 1909, ad d itio n al deposits of
T o ta l d ed u ctio n s------ 1,782,978 1,622,082 1,555,302 1 3 7 8 3 5 0 comSince
an d preferred stock of th e A m erican M alting Co. h av e been m ad e
S u rp lu s -----------------------200,150
5 3 .3 '4
35.087
' 7 5 ’ 7 4 1 u n derm on
th
e plan for red uction and rea d lu stm en t of cap ital, so th a t th e to ta l
a P rio r to 1909-10 taxes w ere Included In o p eratin g expenses.
am o u n ts ow ned, also th e am o u n ts un assen ted , a re as follows:



THE CHRONICLE

1250

Owned.
XJnassented.
Com m on sto c k — -----------------------------------------------P referred sto c k ____________________________________ 14,026,600
413,400
(The balance of th e o u tsta n d in g com m on sto ck of th e A m erican M alting
Co.— $ i , lo o , 000— Is held In th e trea su ry of th a t com pany.)
T he am o u n ts show n to be still o u tstan d in g In th e h an d s of th e p u b lic
co n stitu tes less th a n 3.17% of th e en tire cap ital sto ck of th e A m . M alt. Co.
D isposition thus Jar M ade oj the C apital Stock oj the A m er. M alt C orporation.
Com m on. Prejerred.
E xch an g ed for sto ck of A m . M alting Co. un d er p la n .$5 ,690,520 $8,696,492
R eserved for o u tsta n d in g stock of M alting C o............. 205,480
256,308
t free In tre a su ry ------------------------------------------------ 104,000
47,200
O n S ep t. 21 1910 th e directo rs of th e A m erican M alting Co. declared a
s 1-annual dividend of 62 cts. per sh are upon th e pref. sto ck of th a t com n y , pay ab le on N ov. 1. As yo u r com pany Is th e ow ner of 140,266 shares
th e pref. sto ck of th e A m . M alting C o., th is div idend will bring Into your
easury $86,965. Y our directo rs su bsequ ently declared a sem i-annual
lvldend upon th e pref. sto ck of th e corpo ration of 1% , pay ab le on and
fte r N ov. 2 1909. (The ra te h ad previously been 2 )4 % each half-year
from N ov. 1908 to M ay 1910, lncl. C om pare re p o rt of A m er. M alting Co.
below an d see V . 91, p . 791, 792.)

A m erican M alting C o., N ew York.
fo r F isca l Y ea r ending A u g . 31 1910.)

(R eport

Chairman Wilberforce Sully, Oct. 25, wrote in substance:

R esu lts. — E xcessive com petition an d e x trao rd in a ry expense a tten d in g
th e han dling of th e barley crop, w hich w as fa r below th e average In
q u a lity , ag g rav ated by obstacles to tra n sp o rta tio n of grain durin g th e
w in ter m o nth s d u e to an extensive strik e of sw itchm en In th e N orthw est
a n d to severe w eath er conditions, w ere th e chief factors co n trib u tin g to th e
m aterial decrease In earnings for th e fiscal year ju s t closed.
O w ing to th e blockade on th e railroads In th e N o rthw est, large q u an tities
of barley previously acquired by yo ur com pany w ere delayed In tra n sit
for m an y w eeks, an d th e com pany w as forced Into th e m ark et in Chicago
a n d M ilw aukee to replace such supplies for th e req uirem ents of t le W estern
houses, located In Chicago, M ilw aukee an d D etroit, a t a tim e w hen receipts
on tho se m ark ets w ere light a n d prices high, th u s losing th e benefit of th e
supplies of barley pu rchased to carry Its W estern houses throu gh th e w inter
m o n th s. I t w as necessary to keep th e houses In o p eration In order to fill
large c o n tra c ts m ade by th e com pany , an d th e ad d itio n al expense caused
by pu rch asin g barley u n d er such adv erse conditions w as unavoid able.
Sale o) U nused P roperty. & c.— D uring th e year th e com pany derived
cash o th e r th a n from earnings as follows: Sales of unused p ro p erty , w ith
Insurance collected, less expenses, $101,085; less m ortgages ta k e n In p a rt
p a y m e n t, $65,000; rem ain der, $36,085.
_______
D uring th e year p lan ts an d good-w ill acco u n t w as Increased $12,028,
ow ing to exp en ditu res for co n stru ctio n , a n d reduced by th e a m o u n t of
abo ve cash an d m ortgages. < f th e cash received from th e abo ve sources,
$31,085, to g e th e r w ith $85,000 io rep resent th e m ortgages tak en In p a rt
p a y m e n t for p rop erties sold, w as paid to th e sinking fund , a n d th e m o rt­
gages w ere ad d ed to those previously show n on th e balance sh eet as an asset.
S in k in o F u n d — T here w as also sold to th e sinking fund In N ovem ber
1909 $109,000 of th e 1st M. bonds held In th e trea su ry , w hich, w ith $2,725
accrued Interest thereon and $907 cash, equals $112,632, being one-half of
th e dividend paid In N ov. 1909 an d again In M ay 1910. Cash for $112,632
w as paid by th e com pany to cover th e M ay dividend requirem ents. The
abo ve am o u n ts, w ith $90 accrued interest, m ake a to ta l of $321,439 paid to
th e sinking fund since S ept. 1 1909. T he tru stee has purchased for can­
cellation 301 1st M. bonds, w ith accrued Interest, for $314,830, this Includ­
ing $159,000 p a r value of bonds sold to th e sinking fund by th e com pany,
th u s reducing th e o u tsta n d in g m o rtgage bonds to $3,121,000.
_
D uring th e y e a r th e com pany purchased In th e open m a rk e t $259,000
(par value) of th e com pany’s m ortgage bonds. A dding tho se purchased
an d ded ucting th e $159,000 tran sferred from th e trea su ry to th e sinking
fu n d , leaves $282,000 bonds (par value) In th e trea su ry as quick assets.
T he com pany also acquired In settlem en t of an obligation $7,100 p ar valu e
of w ell-secured bonds, w hich are now held In th e treasu ry .
W orking C apital.— T he com pany begins Its present fiscal year w ith $5,­
072,240 n et w orking c ap ital. Including cash, trea su ry bonds, m ortgages on
real e sta te, securities of oth er com panies, acco unts an d bills receivable
a n d Inventories. T he Inventories of barley and m alt h av e been valu ed a t
a figure u n der cost, a n d since th e close of th e fiscal year co n tracts h av e been
m ad e for th e sale of all th e m alt a n d barley on a m a lt basis on h an d A ug. 31
19Absents?— Dess th a n 3.17% of th e cap ital sto ck rem ains In th e h a n d s of
th e public un assented to th e plan , th e rem ain der hav ing been exchanged
fo r sto ck of th e A m . M alt C orporation (sec th a t com pany above, also plan ,
V . 81, p . 266. F u rth e r assents are desired .— E d.)
j
. j d a ii
IN C O M E A C C O U N T F O R Y E A R S E N D IN G A U G . 3 1 .’' ^ '"i'Af
1906-07.
1908-09.
P ro fit on m a lt, barley &
o th e r pro d u cts dealt
In, lncl. Int. on secur’s
$10,517
$880,993 $1,319,099
ow ned, loans & bal'ccs $549,156
200,100
198,315
190,429
D educt— In t. on M. bonds 184,398
71,899
74,989
79,616
T ax es _______________
70,384
96,121
93.991
53,565
B e tte rm en ts & m a ln t.
51,922
$323,610
$367,295 $368,120
T o ta l d ed u c tio n s____ $306,704
B alance for dlvs --_sur_$242,452sur_$557,383sur_$952,704def_$357,603
P ref. dlvs. paid In N o v .
$89,528
$225,264
$225,264
---------P ref. dlv s. follow ing M ay (sec below)
225,264
225,264
---------.$357,603
B a la n c e ______________
(?)
sur.$106,8 55 sur.$ 50 2,17 6def
T h e am o u n t of th e final div id en d , pay ab le In M ay 1911 o u t of th e earnIngs for th e la te yaer, w hether m ore or less th a n th e a m o u n t Just declared,
will depend on th e tra d e conditions th e n existing. See V . 91, p. 791.
B A L A N C E SH E E T AUG. 31.
v I
1909.
1910.
1910.
1909.
Liabilities—
$
S
Assets—
$
S
Plants & good-will 27,307,505 27,396,561 Capital stock, pref. 14,440,000 14.440.000
Common stock__ 1,100,000 1,100,000 Capital stock,com.14,500,000 14.500.000
Seour’s other co s.. 25,825
18,725 First M b d s.,6 % . 3,121,000 3,422.000
5,040
Cash ..................... ',779,487 2,853,263 Accounts payable, 71,729
31,663
30,284
Accts. & bills rec’le 1,711,497 1,544,942 Accrued taxes----51,330
Taxes & Insurance 32,296
30,801 Acer. Int. on bonds 46,815 100,000
Inventories______ 1,195,963 828,171 Reserve funds----- 100,000
Bonds purchased- 282,000 182,000 Profit and loss----- 1,329,513 1,537.590
Sinking fund.......... 10,768
4,160
Mtges. on real est. 194,000 129,000
T o ta l.................. 33,639,341 34,087,623 T o ta l................... 33,639,341 34,087,623
See report of American Malt Corporation above.—V. 91, p. 1162, 792.

[IT o l . l x x x x i

R E S U L T S F O R Y E A R S E N D IN G J U N E 30.
1909-10.
1908-09.
1907-08.
1906-07.
10
23
25
23
Vessels bu ilt (N o .)_____
168,000
60,500
234.000
153,500
C arrying cap ac., n e t ton s
$1,713,908 $2,307,779
N et e a rn in g s......................* $1,980,654 *$1,257,722
553.000
553,000
553,000
553,000
D lv. on pref. sto ck (7% )
(6)456,000 (6)456,000
D lv. on com m on sto c k . _ (4)304,000
497,168
3 8 7,96 1|
194,8511
272,032
D eprec. & m a in ten an c e,
204,166
184,793/
271,299
R ebuilding docks. & c ..
$597,445
$316,947
$325,078
B alance, su rp lu s........... $580,322
' T he n e t earnings as abo ve for th e la st tw o years Include c o n tin g en t
earnings on unfinished con stru ction du rin g previous years as follow s:
In 1909-10, $100,000 an d In 1908-09 $200,000.
B A L A N C E S H E E T J U N E 30.
1909.
1910.
1910.
1909.
$
Liabilities—
$
Assets—
S
$
Plants & property 17,904,087 17,220,249 Stock, preferred.. 7,900,000 7.900.000
83,894 Stock, common__ 7,600,000 7.600.000
Add’ns & lm p’ts ..
904,:)00 Accounts and bills
Bds. & stks. (cost) 884,400
416,872
466,937 pay ab le_______ 1,166,514 1,159,243
M aterials on hand. 510,287
Reserve funds____*1,259,122
Accts. & bills rec’le 3,907,006 3,058,845 Surplus
6,423,652
..............
7,003,974
823,561
Cash ....................... 902,045
Work under constr. 821,790 941,382
T o ta l...................24,929,615 23,499,768 T o ta l...................24,929,615 23,499,768
x R eserve fund s (to ta l $1,259,122) Include In 1910: For m ain ten an ce;
$500,000; for Insurance, $209,707; div idend s (payable Ju ly 15), $l.!8,2o0;
sundries (tax es, ren ts, liab ility Insurance, expenses, & c.), $311,164; contln g e n t earnings on unfinished con stru ction, 1909-10, $100,000.
N ote.— In ad d ition to th e foregoing, th e re exists a c o n tin g e n t lla b llty
from th e g u a ra n ty of first m ortgage bonds on steam sh ips bu ilt by th e S2P1"
p a n y aggregating $1,535,000, a n d carry in g In te re st.— V. 91, p. 10J7, * 7 0 .

R ay C onsolidated Copper Co., N ew York.

Report for Fiscal Year ending June

(
30 1910.)
President Sherwood Aldrich, 111 Broadway, New York,
Sept. 27 1910, wrote in substance:

T he y e a r’s progress has been m ost g ratify in g . T he assured ore In th e
R a y prop erties has been brou gh t up to som ething over 59,000,000 to n s;
a n d th e acq uisition of practically all th e o u tstan d in g sto ck of th e Glia
C opper Co. ad d s a b o u t 16,000,000 ton s, or a to tal of m ore th a n 75,000,000
to n s.
T he co n centrating m ill now being co n stru cted will com m ence o p erating
a su b sta n tia l p a rt or Its cap acity early n e x t year, an d th e sm elter will be In
o p eration a few m o nth s later.
A t th e special stock ho lders’ m eeting held on M ay 25 1910 a n Increase
of th e cap ital stock from 1,000,000 shares to 1,200,000 sh are s w as a u th o r­
ized, and In accordance w ith th e fu rth e r a u th o rity giv en a t th a t m eeting
th e Increase of 200,000 shares w as offered to th e sto ck ho lders of th e Glia
Copper Co. In exchange for th e ir holdings a t th e ra te of one sh are of R ay
for th ree shares of G lia. S om ething over 97% of th e o u tsta n d in g Gila
stock was exchanged for R ay un d er this offer. T he a d v an tag e s to both
com panies of a single m an ag em ent an d a single o p eratin g p la n t w ere fully
set forth In th e circular letters of May 2 1910 and M ay 3 1910 (see c irc u la r
of O ct. 25 on a su bsequ ent p ag e.— Ed.]
T he directors felt th a t th e g re at ton nage developed In th e R a y prop erties,
w ith the ad d itio n a l ton nage secured throu gh th e a c q u isitio n of th e Glia
p rop erties, m ade It Im perative th a t th e c ap acity of th e c o n ce n tra tin g mill
an d sm elter should be su b sta n tia lly Increased. As a re su lt, th e m ill, as
now planned, Is expected to tre a t a t least 8,000 to n s d a lly w hen In full
o p eration , a n d the sm elter will h av e am p le cap acity to han dle th e resulting
co n centrates, w hich should give an a n n u al o u tp u t well In excess of 80,­
000,000 lbs. of refined copper.
,
,
T hese broad er plans hav e Involved m uch g re ate r u n dergro un d develop­
m en t, and an ad d itio n al m ain w orking sh aft, to assu re th e reg ular prod uc­
tion of th e desired tonnage; also fu rth e r an d m ore su b sta n tia l railroad
con stru ction and ad d itio n al rolling stock.
An exceedingly favorable c o n tra c t has been entered Into w ith th e A rizona
E astern R R . for th e tran sp o rta tio n of our ores from K elvin, th e term in u s
of our own R ay-K elvln RR., over th eir trac k s to H a rd e n Ju n c tio n , a n d
from thence over o u r ow n track s to th e ore bins a t th e m ill. A sa tisfac to ry
c o n tra c t has also been entered Into for th e refining on th e A tla n tic seabo ard
of o u r blister copper and th e sale of th e refined pro d u ct.
....
,
A t th e present tim e a force of ab o u t 730 m en Is em ployed a t th e m ine,
a n d 470 m en a t the m ill, sm elter an d pow er-plant.
All o u tstan d in g bonds h ad eith er been converted or w ere p aid on Ju ly 1
I t Is recom m ended th a t th e fiscal year be changed to correspond w ith
th e calen dar year an d th a t th e d a te of th e ann ual m eeting be changed to
th e th ird F riday In A pril. T he n e x t fiscal period w ould In th a t case cover
18 m o nth s, b u t sem i-annual rep o rts will be mad» durin g th a t period.
C on d en sed E x tr a c ts fro m R e p o rt o f G en. M gr. D . C. Jacklin S ept. 11 1910.
T he to tal developed and partially developed ore on both pro p erties is,
therefore, 75,096,000 ton s, of an av erag e copper c o n ten t of 2 .1 7 % . Of this
to ta l ton nage, 64,817,000 tons of th e a v erag e grade sta te d Is dev elo ped, a n a
10,279,000 tons Is p artially developed. T he to ta l a re a dev elo ped a n a
p a rtially so on R ay ground Is 148 acres and on Glia ground 28 acres. The
ton nage show n docs n o t, how ever, c o n stitu te th e full ton nage co n tain ed in
th is area. T he num ber of holes drilled on R a y ground Is 264 a n d on G lia
ground 70— a to ta l of 334— th e to tal feet of drilling on bo th pro p erties
being 141,194. T he average thick ness of ore on R ay grou nd Is 118 ft. a n d
th e average thickness of cap pin g 240 ft.; on Gila grou nd th e averag e
thickness of ore Is 171 ft.
.....
T he to ta l un derground w ork to d a te am o u n ts to 44,753 f t., d iv ided as
follows: drifts, 36,300 ft: raises, 6,140 ft.; sh afts, 2,313 ft. T h e g re ate st
dep th from w hich It will be necessary to hoist ore In ord er to m ine o u t
ap p ro xim ately 85% of th e presen t developed ore bodies Is less th a n 300 f t.,
an d th e tw o w orking sh afts a re n o t being extend ed below th e 300-ft. level
a t th e present tim e. F o r a n u m b er of years by far th e larg est po rtio n oi o u r
tonnage will com e from points above th e second level, w hich Is 170 f t. from
th e surface a t N o. 1 sh aft. A t th e p resent tim e we h av e a b o u t 6 3 ,uuu ton s
of ore on th e stock pile, and by th e tim e th e mill Is read y to receive it wo
should hav e m ore th a n 150,000 tons of ore stored In th is w ay. rh e ore so
produced to d a te Is all from th e E astern ore body and Its copper c o n ten t,is
such as to fu rth e r prove th e accu racy of o u r drilling results In th e te rrito ry
from w hich It conies.
■A
G E N E R A L B A L A N C E S H E E T J U N E 30 1910.
Liabilities ($11,127,273)—
Assets ($11,127,273) —
C apital s to c k _____________$9,701,500
P ro p e rty a c c o u n t_*$7,942,634
o u tsta n d in g --------------------------- 298,500
C ash_____________
2,234,235 Bonds
te re st a n d exchang e______________ 90,917
O utside Investm en ts_____
84,528 SInurplus
(from sale of sto ck
S u p p lie s ....................... 218,840
1,000,000
A ccounts receivable______
20,838 over p a r)........ .............
M
iscellaneous
.......................
7,122
A
dm
inistration
exp
en
se.
576,567
jv
Am erican Shipbuilding Co., Cleveland, O.
29,234
M iscellaneous ___________
49,631 A ccounts p a y ab le ________
(Report for Fiscal Year ending June 30 1910.)
* Includes p ro p e rty , $5,499,800; p ro p e rty ad d itions, $760,864; H ayden
la n t constru ction, $303,189; R a y p lan t con stru ction, $184,045: tnlno
The pamphlet report has not b e e n received, but President pdevelopm
ent, $577,310; R R . construction and c m ilp ^ e n t, $410,076;
m achinery, $64,791, an d steel purchases, $142,558.— V . 90, p . 1300.:
James C. Wallace is quoted as saying:
A t Buffalo th ere has been com pleted a new m odern, fully equ ipped , 700foot d ry dock, a n d In place of th a t destroy ed by fire a n office building a n d G ranby C onsolidated M ining, Sm elting & P ow er C o., L td .
boiler-house.
(Report for Fiscal Year ending Jnne 30 1910.)
A t P o rt A rth u r, C anada, yo u r C hairm an a n d P resid en t h av e given con­
siderable a tte n tio n to th e w ork of con stru ction, an d hope th a t by J a n . 1
Pres.
J. Langeloth, N. Y ., Sept. 6 wrote in substance:
x t w e shall h a v e In operation th ere a 700-foot d ry dock, steel p u nch,
C urtailm ent.— Y our directo rs have ad o p te d th e policy of cu rtailin g pro­
op building, m achine shop, building b erth a n d eq u ip m en t, an d th e p la n t
du rin g the prevalence of th e p resent low price of ti e m etal.
generally In condition for o p eration , an d wo hav e very satisfacto ry assu r­ du Tction
he a ltera tio n s a t th e sm elter w ere com pleted In the fall of 1 9 0 9 , a n a tne
ances of a fair volum e of business.
.
^,
tire b a tte ry of eigh t furnaces w as In op eratio n du rin g th e first hair oi
A t L orain a new forge shop, capable of m aking th e heaviest forgings en
D
ecem
ber In th a t year. T h ro u g h o u t the w in ter o p eration s w ere lim itea
th a t a re used In vessel con stru ction, will be in op eratio n N ov. 1 nex t.
a n d from the m iddle of M arch to Ju n e 30 only six w ere
T he com pany has com pleted 23 vessels (total carrying c ap acity 153,500 to seven .furnaces,
N o tw ith stan d in g this c u rtailm e n t, the av erag e cost per to n
n e t tons) a n d now has u n d er c o n tra c t 12 vessels. T he general Introduction oofp erated
fo r m ining, sm elting, tra n sp o rta tio n a n d refining w as $ 3 7 9 as
of larger an d heavier ore-unloading m achinery Is m aking certain changes ag aore
in st $3 20 for the year end ing Ju n e 30 1909. On th e o th e r n a n a , tno
In vessel co n stru ctio n necessary, an d w hile th e outlook for new con stru ction recoveries
of copper, silver an d gold are ra th e r below those or previous years.
seem s lim ited a n d p ro b ab ly will be, we b a re assurances of considerable T he to ta l cost
all expenses paid , and p fter d ed u ctin g th e values
w ork In rep airs a n d changes In c on stru ctl |t a t will give us a fair of gold an d silvofer,copper,
w as 10.34c. p er lb ., as a g a in st 10c. for th e previous year.
business d u rin g th e year.




Hi

Nov. 5 1910. j
^

■

........ -

..........

-

...

THE CHRONICLE
.

• • --------------------------------

New Sto ck.— On Ja n . 4 1910 th e directo rs decided to cap italize a portion
of those ex p en d itu res Incurred d u rin g the last few years prop erly chargeable
to c ap ita l acco u n t. A ccordingly, 13,500 sh ares w ere ottered to the sh are ­
holders a t 585 per sh are. T he directors underw rote this Issue of sto ck
w ith o u t com m ission or com pensation, a n d too k a n d paid fo r th e po rtio n
n o t subscribed fo r by o th er shareholders.
Su ssm an R eport.— It had been the In tentio n for som e tim e p a st to have
y o u r m in ing properties exam in ed by a n ind epend en t engineer. L ast
J a n u a ry th e w ork w as e n tru ste d to D r. O tto S ussm an, w hose rep o rt is
a tta c h e d . Ills tonnage estim ates corresponded closely w ith those m ade
b y th e c o m p an y ’s engineers.
E xtensiv e exp loratio n w ork Is now going on a t th e co m p a n y ’s prop erties
w ith a view to developing ad d itional ore bodies, a n d o p tion s h av e been
ta k e n on outside properties w here exp loratio n Is also nelng carried on.
Sta tu s.— T he financial con dition Is satisfacto ry . T he a m o u n t on han d
of cash an d copper, to g eth er w ith ores a t cost, a m o u n ts. In round ligures,
to 5 1 , 0 1 2 , 0 0 0 , a n d the com pany has no Indebtedness, w ith th e exception of
c u rre n t acco unts for w ages a n d supplies, am o u n tin g to ab o u t 5176,000.
T he profits fo r th e year am o u n te d to 5564,047, o u t of w hich one dividend
of 2% , am o u n tin g to 5270,000, w as paid Dee. 15 1909.
Coal C o m p an y.—T he C row ’s N est Pass Coal Co. has resum ed th e p a y ­
m e n t of div idend s, declaring 1% , pay ab le Aug. 10. T he prospects fo r a
p ro fitable business are v e ry encouraging.
Condensed E xtracts from Report of V ice-Pres. and Gen. M a n . J a y P . Graves,
Spokane, W ash., A u g . 8 1910.
T he fa ith we have In our lindlng ore w ith d ep th as our developm ent pro­
ceeds is as great as It w as upon th e d ay we sta rte d developm ent w ork upon
K nob Hill a n d Old Ironsides. Y our m ines have never been prospected
below ou r present w orkings of a b o u t 600 feet, w ith th e exception of one
d iam ond drill hole placed w ithin th e w orkings of th e V ictoria claim a b o u t
fo u r years ago. T his hole w as p u t down to a d ep th of ab o u t 600 feet
below th e 300-foot level and encountered m ineralized m aterial and som e ore.
W ork Is now In progress tow ard s th e prospecting of low er levels.
T he com pany lias for Its h istory a successful record of th e e x trac tio n of
over 6 , 2 5 0 , 0 0 0 ton s of ore m ined and sm elted , hav ing paid a g re ate r price
fo r Its labor th a n a n y o th er large copper p ro p erty on this c on tinent: having
paid , because of Its inaccessibility, larger freig h t charges th a n a n y o th er
com pany e qu ally d is ta n t from m ark ets, a n d has d istrib u te d to Its sh are ­
holders 53,778,630 In dividend s. I t has a n up -to -d ate sm eltin g and con­
v e rtin g p lan t a n d over 6,400,000 tons of ore developed abo ve the 500-foot
level, while of the m ineral claim s In P hoenix cam p n o t one-half th e a rea
ow ned has been prospected. T he com pany is free fro m d eb t a n d has over
5900.000 In cash and copper In tra n sit.
We ow n a large Interest In th e Crows N est Pass Coal Co., from w hich we
draw upon favorable term s our coke su pply , tw o of our d irecto rs being
d irecto rs of th e coal com pany. Said com pany ow ns ab o u t 240,000 acres
of coal lands, rep orted to c on tain th e larg est deposit of coal In th e en tire
W est ow ned by one com pany.
T he G ranb y C om pany ow ns a b o u t 1,000 acres of land an d th e Falls of th e
C olum bia K iver a t K ettle F alls, W ash ., It is e stim ated by engineers, will
develop ab o u t 100,000 h. p.
Condensed E xcerpts from Report of D r. Otto Sussm an , N . Y ., M arch 31 1910.
T he ore reserves developed by un dergro un d w orkings an d diam ond drill
holes w ith in th e te rrito ry ow ned by the com pany In th e cam p of P h oenix,
B. C., a m o u n ted on M arch 1 1910 to a b o u t 5,600,000 ton s, this rep resentin g
ore th a t can be recovered. T he averag e con ten ts Is a p p ro x im ately as fol­
low s: C opper, 1.24% ; silver, .25 oz. per ton; gold, .04 oz. per ton .
T he recovery would am o u n t to ab o u t 19.8 lbs. of copper, b u t I have
llgtired on a recovery of only 19 lbs. As long as op eration s shall be carried
on a t th e ra te of 3,000 to 3,500 tons of ore per day , you should be able to
produce copper a t an averag e cost of 10.35c. per lb. sold in New Y ork.
C o nscqu enlly th e average profit per ton of crude ore on a 13c. copper
m a rk e t will am o u n t to 50.35c., and each lc . Increase or decrease in the
price of copper will m ean a consequent increase or decrease In the average
n e t profit per ton of crude ore of 19c. On an o p eratin g basis of 3,500 tons
of crude ore per d a y ,th e a n n u al profltsw ill consequently be a p p ro x im ately
5630.000 In case of a 13c. copper m a rk e t and ap p ro x im a te ly 5860,000 In
case of a 14c. copper m a rk e t. At th is rate of p rod uction the ore reserves
a t p resent av ailable fo r stu ping will last som ew hat less th a n 4 14 years; b u t
I am Inclined to thin k th a t It m ay becom e necessary fo r you to reduce
o p eratio n s to som e e x te n t la te r on, especially so if fu tu re exp loratio ns
should , as I a n tic ip a te , give d isap po inting results.
W ith reg ard to fu tu re exp loratio n w ork w ith in your te rrito ry , I m u st
s ta te th a t In m y opinion It Is unlikely th a t this w ork will open up fu rth e r
ex ten siv e ore reserves. T he ore bodies in th e Old Ironsldes-K nob Hill
grou p have decreased In size con tinuo usly from No. 3 tun nel on dow nw ard.
T he 500-foot level a n d all the diam ond drill w ork done on th e 500-foot level
disclosed no ore.. The drilling done betw een the Old Ironsldes-K nob Hill
grou p and th e irregu larly shaped ore bodies of th e Gold D rop-M onarch
grou p d id n o t disclose a n y ore bodies of Im portance. Som e com paratively
sm all new ore bodies and som e extensions of the present know n ore bodies
m a y possibly be found, bu t I do n o t exp ect th a t a n y such discoveries
w ould tend to lengthen the life of th e m ine m aterially .
Y our m an ag em ent has lately tak e n an option on som e ground adjo ining
y o u r p ro p erties to the n o rth . T his policy of exploring o th er properties
fro m w hich a su pply for y o ur sm elter can be found deserves yo ur su p p o rt,
a s th is oilers a chance of prolonging the life of your enterp rise.
P R O D U C T IO N (IN C L U D IN G I N F IR S T T A B L E F O R E IG N O RE ).
-------Tons Sm elted------- ---------A ll M etals Produced--------G ranby.
Total. Gold, Oz. Stiver, Oz. Copper, Lbs.
1902 ....................... 293,645
301,100
30,786
274,511 10,836,851
1904 ..............
516.059
556,531
54,493
275,935 16,020,986
1906 ..............
796,188
832,346
50,020
316,947 19,939,004
1908 ..............
858,432
882,611
40,068
300,204 21,092,288
1909 ____________ 961,789 984,733
45,760
335,520 21,901,528
1910
.
1,175,518 1,197,377
48,752
356.746 22,754,899
1901-10 (total) .0,263,091 0,491,149 389,589 2,589,213 161,168,537
G R A N B Y O RE T O N N A G E — M E T A L R E C O V E R Y P E R T O N .
(F igured a p p a re n tly on “ D ry T ons S h ip p e d ,” w hich differ slig htly from
"T o n s S m elte d .’’— Ed.)
Cost
Recovered per Ton.
Recovered per T on.
Cost
Copper, Silver, Gold, per
Copper, Silver, Gold, per
Lbs.
T on.
OZ.
Oz.
Oz.
Ton.
Lbs.
Oz.
1906 ...2 4 .3 0 .3107 .0513 2.87
1901 ...3 1 .4 9 .4406 .1003 4.77
4.08 1907 ...2 4 .4 3 .3038 .0503 3.28
1902 ...2 7 .2 3 .2952 .0808
1903 ...2 4 .5 8 .2772 .0717 3.75 1908 ...2 3 ,4 2 .2865 .0454 3.11
1904 ...2 2 .8 7 .2019 .0608 3.35 1909 ...2 1 .9 0 .2730 .0435 2.85
1905 __ 21.08 .2088 .0599 3.14 1910 . . . 18.70 .2281 .03 70 2.50
"C o st” here Is exclusive of th e cost of m ark etin g blister copper.
R E S U L T S FO R Y E A R S E N D E D J U N E 30.
1908-09.
1907-08.
1909-10.
1906-07.
Sales—
21,901,528 21.126,926 16,410,576
C opper, fine ( lb s .) _____ 22.750.111
$0.1322 $0.13 1-3
$0,2221
A verage price received $0.12912
335,521
300,593
257,378
355,749
S ilver, fine (o z .)_______
$0.5125 $0.56 5-8
$0.5233
$0,679
A verage price received
45,761
40,139
48,804
G old, fine (o z.)_________
35,083
*
$
$
S
G ross Incom e from sa le s. 4,099,925 3,983,537 3,790,184 4,521,549
W orking exp . a t m ines &
sm elter, freig h t, refin­
ing, selling & gen. exp. 3,343,150 3,136,122 3,013,396 2,442,456
F oreign ores p u rc h ase d .
170,266
154,156
191,828
166,280
T o tal ex p en ses............. 3 ,5 3 1',978 3,302,402 3,183,662 2,596,612
N et p r o f it..........................564,947
681,134
606,522 1,924,937
D educt—
E x p lo ratio n expenses . .
______
----------1
76,918
74,841
23,100/
B onus to em ployees____
______
D ividends p a id _________ (2)270,000 (2)270,000 (5)675.000(12)1620,000
228,999
..............
D epreciation f u n d _____
266,155
10,000
In te re st p a id ----------------60,674
82,787
T o tal d e d u c tio n s-----596,829
437,628
927,099 1,696,918
S urplus or dcf. for y e a r, dcf.31,882 sur.243,506 d e f.320,577 sur.228,019
D iscount on shares sold202.435
S urplus from prev. y e a r. 2,698,687 2,455,181 2,775,758 2,547,739
T otal n e t su r. Ju n e 30 2,464,370 2,698,687 2,455,181 2,775,758
T here w as expended In the la st fiscal year In new co n stru ction a n d eq u ip ­
m e n t a t th e m ines and sm elter, $53,634. All dev elo pm en t w ork, renew als
a n d rep airs have been charged to w orking expenses. Mine develo pm en t,
413,267 lineal feet; diam ond drill d ev elo pm en t, 0,438.5 lineal fee t.



1251

B A L A N C E S H E E T J U N E 30.
1910.
1909.
1910.
1909.
Assets—
Liabilities—
%
$
$
S
Real estate, m ach.,
Capital stk. Issued 14,849,565 13,500,000
bldgs. & eq u ip .15,253,515 15,452,996 Accts., Ac., pay’le 176,585 971,644
Stocks and bonds.
962,622 981,503 Dividends held for
Cash, copper, &c.,
liq u id a to r..........
1,558
1,429
on hand.............. 1,011,971 600,459 Dlv. checks unpaid
636
_________
Fuel & store supp.
264,604 136,801 S u rp lu s................... 2,464,370 2,698,687
T o ta l...................17,492,712 17,171,760 T o ta l...................17,492,712 17,171,760
— V. 91. p. 948.

C onsolidated G as, E lectric L igh t & P ow er C o., B altim ore.
(O fficial Statem en t o f A u g . 22 1910.)
In connection with the annual report, of which a digest
was given Oct. 22 (p. 1093), the following abstract of an
official statement furnished to the “ Chronicle" under date
of Aug. 22 1910, will be found of interest:

(1) Consolidated Gas, Electric Light <fc Power Co. of B altim ore.
In c o rp . F eb. 14 1905 un d er law s of M aryland as th e C onsolidated G as
E lectric L ight & Pow er Co. (V. 80, p. 714) being a consolidation of th e
W enstrom E lectric Co. an d th e U nited E lectric L t. & Low er C o., also ac­
qu irin g a m ajo rity of th e sto ck of th e C onsolidated G as Co. of B altim ore
C ity. On Ju n e 20 1906 th e new com pany w as consolidated w ith th e lastnam ed corpo ration , form ing “ C onsolidated G as, E lectric L ight & Pow er
Co. of B altim ore. O w ns entire cap ital stock of N orthern E lectric Co. a n d
p ractically all of th e stock of M t. W ashington E lectric L ight & Pow er Co.
In Ja n . 1907 purchased th e en tire cap ital stock of R oland P ark E lectric &
W ater Co. (V. 91. p. 7211. T he new com pany now controls practically
th e en tire gas and electric lighting business of th e city and B altim ore C ounty.
F ranchises p erpetual. Price of gas 90c. T he com pany has a new 19.000
k. w . gen erating p lan t a t W estp ort: also o p erates th e 9.000 k. w . p la n t of
th e B altim ore E lectric Co. A nnual o u tp u t of gas. 2,800,000,000 f t. (V. 90,
p. 979. 1046).
In N ov. 1907 leased th e B altim o re E lectric Co. for 999 y ears. T h a t
com p an y ’s com m on stock Is ow ned by th e M aryland Securities C o., the
entire stock of th e la tte r com pany being In tu rn ow ned by th e C onsolidated
G as, E lectric L ight & Pow er Co. of B altim ore. T he lease provides th a t th e
C onsolidated Co. will pay th e in terest on the. bonds of th e B altim o re E lectric
Co. an d dividends of 5% on Its preferred stock (V. 85, p. 1340, 1271).
C apital Stock.— A uth. a n d o u tsta n d in g , 5700,000 6% cum . prior lien
stock: $6,360,054 6% cum . p ref., and $6,300,034 com m on; sh ares, $100.
T he prior lien stock Is redeem able a t 105 and accrued d lv s.. a n d th e 6%
cum . pref. sto ck a t 120 and accrued dlvs. T he prior lien stock and th e
pref. stock a rc a lien on all th e properties of th e new com pany an d a n y
m ortgage w hich m ay hereafter be created will be su b o rd in ate to those
stocks (V. 82, p. 1441). T h ere a rc av ailab le, how ever, th e balance of th e
unissued bonds of th e old com panies w hich a rc prior to bo th these stocks,
b u t w hich can only be Issued un der th e term s of th e m tges. covering sam e.
A d lv . of 1 2-3% on th e 6% cum . pref. stock w as declared In S ep t. 1906,
covering th e period from consolidation to O ct. 1 1906: dlvs. on this stock
are now paid A. & O. D lvs. of 6% a re also paid A. & O. on th e prior lien
sto ck . A dlv. of 2% on th e com m on stock for th e 6 m os. ending M arch 31
1910 w as paid on A pril 27 1910. T ransfer A gent, C o ntinen tal T ru st Co.,
B altim ore; R egistrar, A lex. B row n & Sons, B altim ore.
F unded D ebt.— T he o u tsta n d in g Issues consists of th e follow ing:
(a) $9,831,000 Consol. G as, Elec. L t. & P . Co. gen. m tge. gold 4 H %
bonds, d ate d Feb. 14 1905, due F eb. 14 1935 (V. 88. p. 233; V. 80, p. 1481;
V . 91, p. 41). In te re st J . & J . a t C o ntinen tal T ru st C o., B altim ore, tru ste e ,
an d In N . Y . P ar, $1,000 (c*). A u th ., $15,000,000. A first lien on th e
W estp o rt pow er house, th e principal gen erating statio n ; also a lien on b o t i
th e gas a n d electric light properties, subject to th e ir o u tsta n d in g bonds, a n d
a Hen on th e 8,052 shares (nearly all) of stock of th e M t. W ash ingto n E lectric
L ight & Pow er Co., and o th e r securities acq uired by th e new C onsolidated
C o., w hich has no bonds of its ow n.
(b) 52.751,000 C onsolidated G as Co. gen. m tg e. gold 4 )4% bonds, due
April 1 1954 (V. 78. p. 2387). In te re st A. & O. a t F id elity T ru st Co. of
M aryland , B altim ore, tru ste e . P a r. $1,000 (c*). A u th ., $15,000,000, of
w hich $8,485,000 w ere reserved to retire prior liens a n d rem ain der for 80%
of cost of ad d itions and Im provem ents.
(c) $3,400,000 C onsolidated G as Co. consol, m tge. 5% gold bonds, due
Ju ly 1 1889, due Ju ly 1 1939. In te re st J . & J . a t F a rm e rs’ & M erchants
N a t. B ank , B altim ore. M ercantile T ru st & D eposit C o., B altim o re, Is
tru ste e . P a r, $1,000 (c*). Secured by first lien on gas prop erties a n d
equ ipm en t (V. 70, p. 794).
(d) $4,368,000 U nited E lectric L ight & Pow er Co. 1st cons. m tg e. gold
4 y$% bonds, dated M ay 8 1899, due M ay 1 1929 (V. 79, p. 1334). In te re st
M. & N . a t office of A lexander B row n & Sons, B altim ore. M aryland T ru st
Co., B altim o re, Is tru ste e . P a r, $1,000 (c* ). A u th ., $4,500,000, of w hich
$60,000 are reserved to retire $60,000 un derlying bonds. Secured on en tire
franchises and p rop erty of U nited E lectric L ight & Pow er C o., a n d also by
pledge of en tire $400,000 cap ital stock of N orthern E lectric Co.
(e) $4,000,000 C onsolidated G as. E lectric L ight & Pow er Co. 3-year 5%
secured gold notes, dated Ju ly 1 1910, due Ju ly 1 1913 (V. 91, p. 41). In ­
te re st J . & J . a t C o ntinental T ru st C o., B altim ore, or a t N . Y . T ru st Co.,
N . Y . C oupon, $1,000. T o tal am o u n t a u th ., $4,000,000, Issued to retire
6% bonds of C onsolidated G as C o., due Ju ly 1 1910, a n d for o th e r corpo rate
purposes. Secured by a deposit of $3,037,000 Consol. G as Co. gen. m tg e.
4 Vi% bonds, $1,722,000 C onsolidated G as, Elec. L t. & Pow er Co. gen.
m tg e. 4 H % bonds, $452,000 B altim ore E lectric Co. 5% bonds.
(f) T here are still o u tsta n d in g $312,000 certs, of Indebtedness of Consol.
G as C o., th e rem ain der of th e $1,500,000 Issued having been exchanged for
th e general 4 H s of th e C onsolidated G as Co. (V. 77, p. 39: V. 76, p. 50 ).
Directors (O ct. 1910).— Jam es E. A ldred, N . Y .; C harles A dler, Geo.
C ator, C harles M. C ohn, Charles T . C rane, C harles H . D ickey, F ran k A
F'urst, I'ran cls H . H am bleto n, N orm an Ja m e s, F erd inand C. L atrob e
T hom as J . S hryock. S. D avies W arfield a n d Frederick W . W ood, all o
B altim ore: S. R eading B ertro n . N icholas F . B rady and C. E . F C larke
N ew Y ork: I I . S. H o lt. M ontreal: and E . R . W ood. T o ronto .
(2) Baltim ore Electric Co.
In c o rp . u n d er law s of M aryland un d er a consolidation In M ay 1907
(V. 84, p. 1116. 1369) of B altim ore Elec. Pow er Co. and th e M aryland T ele­
phone & T elegraph Co. A fter consolidation th e M aryland T elephone Co.
too k ov er th e telephone business, a n d all of Its $1,000,000 sto ck a t first
held by B altim ore Elec. Co. w as sold to Bell Interests. Pow er p lan t Is
located a t S o u th B altim ore: cap acity of 9,000 k. w. In Dec. 1907 98%
of th e com m on stock w as acquired by th e M aryland S ecurities C o., and th e
en tire $100,000 stock of th a t com pany Is In tu rn ow ned by th e C onsolidated
G as, Elec. L t. & Pow er Co. of B altim ore. A bout th e sam e tim e th e prop­
e rty of th e B altim ore Elec. Co. w as leased to th e C onsolidated G as, Elec.
L t & Pow er Co. for 999 years, th e lessee g u aranteeing Interest on th e bonds
of th e B altim ore Elec. Co. a n d dlvs. of 5% on Its pref. stock (V. 85, p. 1340,
1271: V. 87. p. 741).
C apital Stock.— A u th ., $2,500,000, and o u tsta n d in g , com m on, $2,400,­
000- p ref., a u th ., $1,250,000 5% c u m ., o u t., $1,000, Ooo. S h ares, $50.
Bonded Debt O utstanding.— $3,721,000 1st M. 5% gold bonds, dated
Ju n e 1 1907, due Ju n e 1 1947, b u t redeem able upon 2 m o s.’ notice a t 110
and ln t. (V. 85, p. 598). Coupon payable J . A D . a t N orthern T ru st Co..
P h ilad elp h ia, tru stee. P a r, $1,000 (c*). A uth ., $7,500,000: $3,550,000
reserved for new p ro p e rty a t 80% of cost. A sinking fund of 1 % of bonds
o u tsta n d in g an n ually for 5 years begins D ec. 31 1912; for n e x t 5 years,
1 H % per an n u m , and th e rea fter 2% a n n u ally . B onds are g u a r., prln . a n d
ln t., by C onsolidated G as, Elec. L t. & Pow er Co of B altim ore, a n d fu rth e r
secured by deposit of $1,155,000 bonds of C onsolidated G as, E lec. L t. &
Pow er Co. of B altim o re.— V . 91 d . 1093.

N ipe B ay C om pany.
(R eport fo r F iscal Y ear ending S ep t.

30 1910.)
This company, controlled by the United Fruit Co., reports
through Pres. Andrew W. Preston on Oct. 26 in substance:

O utput.— T he com pany’s su g ar mill produced 137,196,740 pounds of
su gar a n d 2,870,334 gallons of m olasses, as a g ain st 91,888,400 pounds of
su gar a n d 2,673,808 gallons of m olasses th e previous y ear. FTorn a n
o p erating sta n d p o in t conditions th ro u g h o u t th e season w ere excellent
[The com pany on S ept. 15 1910 paid Initial div idend s of 4% on its com m
sto ck a n d 7% on Its non-cum . preferred.— E d.]

1252

T H E CH RONICLE

F o r the com ing y e a r the available cane acreage will be practically th e
sam e as for th e season ju s t end ed , 21,847 acres.
Improvem ents, etc.— T he to ta l ex p en d itu re for b e tte rm e n ts w as 5373,711.
T he w a ter sy ste m w as ex ten d ed a t a cost of $105,12 1. A locom otive a n d
77 cars w ere ad d ed to o u r equ ipm en t a n d 7.18 m iles of railw ay b u ilt, the
railw ay Item s costing $179,235. The physical condition of th e pro p erty Is
undergoing c o n sta n t Im provem ent. H allw ay m ain ten an ce Is being
charged w ith th e cost of tho ro ug hly ballasting the m ain line w ith broken
sto ne, a n d w ith rep lacem ent of w ooden bridges by stru c tu re s of steel or
concrete.
D ebentures.— To liqu idate Its floating d e b t, Incurred as a result of ex ­
p en d itu re s for new con stru ction, th e com pany Issued $1,480,000 0% d e b en ­
tu re s due Ju n e 1 1917 a n d sim ilar in all respects to th e $1,600,000 d eb en tu res
issued Ju n e 1 1907 (V. 88, p. 568, 454.) T here w ere redeem ed w ith in the
y e a r $80,000 of these d eb en tures In accordance w ith th e provisions of th e
agreem en t under w hich th e y w ere issued. T he com pany is now free from
floating d e b t, and th e developm ent of the various d e p artm e n ts of Its un d er­
ta k in g has been com pleted to the e x te n t th a t th ey now com prise a h a r­
m onious w orking w hole.
IN C O M E A C C O U N T F O R T H E F IS C A L Y E A R S E N D E D S E P T . 30.
1909.
1908.
1910.
N et e arn in g s_________________________ *$1,672,075 *$446,921 def. $39,637
Less in terest charges—
$180,000 $165,000
In te re st on m ortgage n o te s________ $210,000
96,000
96,000
In te re st on d e b e n tu r e s ___________
1 1 6 ,1 6 8
146,782
76,897
In te re st a n d d is c o u n t_____________
78,912
$422,782
$337,897
T o ta l____________ ________ _________ $405,C8 0
P ref. d iv ., 7 % ............. ............................ . .
$140,000
------------------Com m on d lv ., 4 % ____________________
140,100
------------------S urplu s or def. for y e a r_____________sur.$986,896 sur.$24,139 d f.$377,533
* A fter d ed ucting $69,211 expended for b e tte rm e n ts, charged against
o p eratin g expenses in 1910 a n d $42,140 in 1909.
B A L A N C E SH E E T SE P T . 30 1910 A N D 1909.
1909.
1910.
1910.
1909.
Liabilities—
§
AssetsS
S
S
11,549,605 11,336.566 Common stock__ 3,502,500 3,502,500
Preferred stock__ 2,000,000 2,000,000
Secur. of oth. cos. 128,750
19,171 5-year 1st M. 6%
Cash ___________ 444,311
52,897 notes duo 1914. 3,500,000 3.500.000
Accts. receivable. 43,288
20,833 3-year 6% notes
Sugar A mol’s stk . 44,593
due June 1909..
Trustee funds for
5,000
10-ycar 6% debs,
paym ent of 3due 1917 ............ 3,000,000 1.600.000
year notes due
5,000 Floating debt___
1,512,594
June 1 1909----830,966 Accounts payable. 64,912
Income account. .
29,631
D ra fts.....................
5,570
11,713
Unpaid coup., Ac.
1,995
5,656
Interest accrued.. 130,000 102,000
Income account.. a 1,909
12,210,547 12,265,433 T o ta l_________ 12,210,547 12,265,433
* Property, equipment, Ac., In 1910 Includes: Cost of property, S 1,396,006: build­
ings, §747,872; furnishings, $22,494; cultivations, cane, §1,798,238: cultivations,
other, §325,440; live stock, §179,619; tools and machinery, 8263,964; railways,
$1,727,523 (against §1,573,523 in 1909); telephones, §24,256; boats, §17,420;
w harves,§70,246; merchandise,$117,834; m aterial, $196,390; sugarm lll,§1,662,302;
total, §11,549,605.
a After deducting $154,021 discount on deben's and deprec. on m aterial a t Cuba.
Cultivations ancl Lands Owned Sept. 30 1910 and 1909 (acres).
1910. 1909.
1910. 1909.
Cult watlons—
4,668 3,575
Sugar cane______ ___ 21,847 22,228 Roads and (Ire lines__ .. 88,660
88,660
P a s tu r e ............... ___ 12,617 13,329 Unimproved land____
Total cultivated. ___ 34,464 35,557 Total all land owned. .127,792 127,792
Acres cane available for cutting In year ended Sept. 30 1910, 21,817, against
19,815 In 1909. Also owned Sept. 30 1910 2,938 head of cattlo, 230 horses and mules,
63.57 miles of road (having 12 locomotives and 412 steel-frame cars, capacity 40,000
lbs. each).— V. 91, p. 1163, 41.
The United States Finishing Company.
30 1910.)
President J. II. Wright, Norwich, Conn., Oct. 1 1910,
wrote in substance:

(Report for Fiscal Year endiruj June

General R esults.— D uring th e y e a r th e com pany finished 294,591,793
y a rd s of goods eq u iv alen t to 167,382 m iles, c o n trastin g w ith 184,035 m iles
in th e preceding year, E d .). T he n et earnings w ere $754,002,)aga!nst
$863,918 for year 1908-09 E d .). A fter paying Interest on bonds, 7% on
pref. stock and 4% on com m on sto ck , th e re w as left a n excess of $288,152,
from w hich th e re has been a p p ro p ria te d for general dep reciatio n $86,519,
leaving a balance of $201,634, to be carried to th e credit of su rp lu sacco u n t.
Sale o/ Sto ck.— T he su rp lus acco u n t w as also Increased by $125,000 re­
ceived as prem iu m on th e sale to sharehold ers of 5,000 shares of com m on
sto ck sold a t $125 per share. T his sale com pleted th e Issue of th e $1,000,00
of new com m on sto ck au th o rized in 1908,
Stock D ividend.— T hese tran sa ctio n s w ould hav e raised th e su rp lus from
$2,240,993 to $2,567,627 had n o t th e directo rs determ ined to p ay on M ay 12
1910 to th e com m on stockholders a div idend of 50% In com m on stock a t
p a r am o u n tin g to $1,000,000. T his dividend w as In efTect an Issue a t p ar
of th e $1,000,000 Increase In com m on sto ck unanim o usly au th orized O ct. 21
1909. T he su rp lus acco u n t a t th e close of th e year accordingly sta n d s a t
$1,567,627.
B o n d s.— D uring th e year $250,000 of th e 5% consols In th e treasu ry also
w ere sold, a n d $445,000 of Silver S pring B leaching A D yeing Co. 1st M. 6s
(all th a t rem ained of th e original $500,000) w ere paid. Ily m eans of this
p ay m en t th e consol. 5s of th is com pany becam e an ab so lute Ilrst m ortgage
on th e Silver S pring p la n t. T he Sinking F u n d also acquired $72,000 of
5% un derlying bonds du rin g th e y ear, so th a t th e n et red uction In th e bonded
d e b t w as $267,000.
P urchase.— T he pu rch ase of th e en tire cap ital sto ck of th e Q ueen D yeing
Co. of P rovidence w as rep o rted last year. P a rt of th e plan for p ay m en t
req u ired th e delivery of $250,000 pref. sto ck of T he U. S. F inishing C o.,
a n d th is sto ck w as tem p o rarily borrow ed for th a t pu rp ose, b u t du rin g th e
year this a m o u n t of sto ck w as pu rch ased In th e open m a rk e t a n d retu rn ed
to th e p arties loaning th e sam e.
A dditio ns, etc.— A dditions a n d renew als hav e been m ade to th e different
p la n ts a m o u n tin g to $627,901, of w ihch $345,000 w as addeil to th e p la n t
a cc o u n t, $196,383 w as charged to o p eratin g expenses a n d $86,519 w as
charged to general dep reciatio n, th e n et result being an Increase In th e book
valu e of th e plan ts In ho sum of $345,000, no tw ith stan d in g th e ex p en d itu re
of $627,901 (as alread y stated ) In ad d itio n s a n d renew als. Im prov em ents
w ere m ade by T he S terlin g Im prov em ent Co. upon very satisfacto ry con di­
tio n s, an d ab so lute ow nership w as tak e n ov er by this com pany on S ep t. 1
1909, resulting In an Increase in th e book value of th e S terlin g p la n t In th e
sum of $200,000, w hich am o u n t Is Included in th e $345,000 Increase in book
v alu e of p la n ts alre a d y referred to .
INCO M E ACCOUNT U. S. F IN ISH IN G CO. YE A R END ING JU N E 30.
1909-10. 1908-09.
1909-10. 1908-09.
S
S
S
$
Gross receipts___ 5,122,201 5,558,727 B a la n c e ................. 578,153 687,218
Cost of production 3,635,664 3,859,753 Pref. dlv. (7 % )... 210,000 203,000
Com. dlv________ (4)80,000 (2)30,000
Net earnings__ 1,486,537 1,698,974 Depreciation_____ 86,519 213,225
45,175
Other Income----- 120,348
Balance to surplus. 201,634
240,993
• Total earnings.. 1,606,885 1,744,149 Surplus forw ard.. 2,240,993 2 ,000,000
Main, and gen. exp. a852,882 a880,23l Prem . on com. stk.
sold__________
125,000
Net earnings.......... 754,003 863,918 T o ta l................... 2,567,627
2,240,993
Interest on bonds. 175,850 176,700 Stock
d lv ld ., (50%) 1,000,000
B alance.............. 578,152 687,218 Tot. sur. June 30. 1,567,627 2,240,993
a Maintenance and general expenses Include Interest on current bills payable,
$82,140 In 1909-10, against §103,561 In 1908-09.



[VOL. L X X X X I.

B A LA N C E SH E E T U. S. F IN ISH IN G CO. JU N E 30.
1909.
1910.
1910.
Liabilities—
Assets—
S
3
§
P la n ts ..................... 7,900,000 7,555,000 Common stock__ 3.000.
Sterling ImprovePreferred stock__ 3.000.
m eat Co. stock. 250,000 175,000 Bonds outstanding 2,715,000
Queen Dyeing Co.
Notes payable.. . 750,000
common sto ck .. 750,000
Accounts payable. 138,502
Inventories______ 1,115,277 1,215,529 July dtvs. A coupon 163,750
C ash........................ 745,578 854,750 Sinking fund..........
503
Accounts receivable 574,084 860,555 S u rp lu s_________ 1,507,627
Cash In sinking fund
503
717

1909.
§
000
1,500,000
000
3,000,000
2,982,000
595,000
200,340
142,500
717
2,240,993

Total .................. 11,335,442 10,661,551 T o ta l_________11,335,442 10,661,551
Bonded Debt June 30 1910—
Total.
Redeemed. Outstanding.
U. S. F. Co. 1st M. 5% , due July 1919............$1,750,000 §535,000
81,215,000
Sterling D. A F. Co. 1st 5s 1926................ ......... 500,000 ______
500,000
"y"
1,000,000
U. S. F. Co. cons. M. 5% , due July 1929___ 3,500,000
"y" Reserved for retirem ent of above underlying Issues, $1,715,000; reserved for
account of U. S. F. Co. 1st M. bonds In sinking fund, and underlying bonds, §386,000;
bonds In treasury available for issue, $399,000; outstanding consolidated bonds,
§ 1, 000 , 000 .
The total number of stockholders June 30 1910 was 900, preferred, 716; common,
1S4.
Note.—The company guarantees the principal and Interest of $750,000 Queens
Dyeing Co. 5% 25-year 1st M. bonds due July 1934 and redeemable a t 104 and
$500,000 7% preferred stock redeemable a t 110.
INCO M E ACCOUNT Q U EEN D YE IN G CO .
Goods llnlshed, yards.............. 43,616,2431Bond interest............................. $37,500
Gross receipts...................
$776,5101 Preferred dividends, 7% ____
35,000
Total net earnings__________
110,431| Balance, surplus.......................
37,931
The liabilities Includes $750,000 common stock (all owned by the U. S. Finishing
Co.), §500,000 preferred stock, §750,000 bonds, $25,671 accounts payable, $8,497
pay-rolls accrued and $27,500 reserved for coupons and dividends payable July 1
1910. The total surplus June 30 1910 was $37,931.—V. 91, p. 721.
Victor-American Fuel Co., Denver, Col.
30 1910.)
President G. W. Bowen says in substance:

(Report for Fiscal Year ending June

General R esults.— T he n et earnings for th e year w ere $884,508. A fter
prov idin g for fixed charges an d d ep reciatio n reserves, a balance of $520,129
w as carried to th e cred it of pro llt a n d loss. D uring th e year th ree div idend s
of 1)4% on th e c ap ital sto ck , ag g regating $305,000, w ere paid , leaving a
balance to th e credit of profit a n d loss of $215,510.
T he costs of op eration have been u n usu ally high d u rin g the y ear, due to
m an y unavoidable causes, th e larger p a r t of w hich have been e lim in ated ,
and m ore favorable results should be show n for the com ing year.
B onds.— On Ju ly 1 1009 th e com pany had o u tsta n d in g $1,900,000 5%
gold bonds of V ictor Fuel Co. a n d $4,000,000 5% gold bonds of V lctorA m crlcan Fuel Co., a n d there w as deposited w ith the tru ste e , for use in
acq uiring ad d itio n a l p ro p e rty , $1,000,000 V ictor-A m erican Fuel Co. 5%
goid bonds.
On Feb. 1 1910 th e com pany arranged to retire the to ta l Issue of $5,000,­
000 V ictor-A m erican Fuel Co. 5%, bonds a n d provided for an Issue of
$5,000,000 V ictor-A m erican Fuel Co. 6% “ Ilrst and refu n d in g ” gold bonds;
$ 1 , 0 0 0 , 0 0 0 of th e la tte r bonds arc held by th e tru ste e for use in acq uiring
ad d itio n a l p ro p e rty an d $1,900,000 of these bonds are deposited w ith the
tru ste e to be delivered to th is com pany In am o u n ts equ al to the am o u n t of
V ictor Fuel Co. 5%, gold bonds retire d , ’l'hc to ta l bonded d e b t now o u t­
sta n d in g is $4,000,000, consisting of $2,100,000 V ictor-A m erican Fuel Co.
6% “ ilrst and refun ding” gold bonds an d $1,900,000 V ictor Fuel Co. 5%
gold bonds. The net resu lt of the change In bond obligations Is a red uction
of bonds o u tstan d in g of $1,900,000 an d a red uction In th e an n u al bond
interest of $74,000, th e present req uirem ent for bond Interest being $221,­
000. (Sec bond olfcring, V. 90, p. 1683.)
New Stock.— In clfectlng the change In bond Issues the au th orized cap ital
stock w as Increased from $7,500,000 to $ 10,000,000,and $1,900,000 of th e
add itio n al stock w as used In retiring a like a m o u n t of V ictor-A m erican Fuel
Co. 5% bonds. T he present o u tsta n d in g Issue of sto ck is $9,400,000.
N ew M in e s.— P erm anent Im provem ents have been m ade a t all the
m ines, and developm ent and co n stru ction w ork has been carried on for
three new m ines, one of them being In the C anyon C ity d istric t in C olorado,
one in the T rin idad d istric t in Colorado an d one in the G allup d istric t In
New .Mexico. T he new m ines will be b rou gh t into o p eration du rin g the
eariy p a rt of this year.
T O N N A G E (T O N S OF 2,000 L B S .) F O R T H E F IS C A L Y E A R E N D IN G
J U N E 30 1910.
Coal.
Coke. Coal Purcli. F ircC lay.
P ro d u c tio n ____________________2,338,722
108,409
227,021
5,778
Sales for the y e a r_____. . . .-.2 ,0 4 2 ,8 9 8
108,693
227,021
5,778
Stock on hand Ju n e 30 ituoll
3,791
1,849
______
___
IN C O M E A C C O U N T Y E A R E N D IN G J U N E 30 1910.
Gross earnings, $3,669,070; o p eratin g expenses, $2,679,979;
m an ag em ent, $152,741; n e t Incom e......................... ............................... $836,350
E arnings on securities, ro yalties, ren tals, &c_____________________ 86,900
T otal In c o m e..................................................
$923,250
Deduct —
T axes, $20,152: insurance, $9,312; personal Injury, $974; em ­
ployers' liability Insur., $1,892; prospecting and m isc. expense,
$38,741
$3,411; to ta l---------------------------------------In te re st— V.-A. F. Co. bonds, $152,500; V. F . Co. bonds, $95,000;
to ta l______________________
247,500
E quip m ent dep rec., $73,414; real e sta te dep rec., $43,160; to ta l. . 1 1 6 , 5 8 0
D lvs. t, 2 and 3, 1 >4% each, paid O ct. 20 1909 a n d Ja n . 20 a n d
April 20 1910, $305,000; less n et a d ju stm e n ts, $81; to ta l____ 304,919
T otal d e d u c tio n s__________________ ______________ _______ ________ $707,740
B alance, su rp lus, as per balance sh e e t___________ ________________ $215,510
BALAN C E SH EET.
June 30 Beginning
'une 30 Beginning
1910. of Business.
1910. o f Business.
§
$
Assets—
Liabilities—
S
8
Real e sta te ______' 1,943,421 9,970,587 Capital stock.......... 1,100,000 7,500,000
E quip m ent______: ,516,533 2,360,010 1st A ret. M. 6s. . ,100,000 ____
Victor Fuel Co.bds. ,900,000 1,925,000
Western Stores Co.
stock .................. 210,000 210,000 First mtgo. bonds. .............. 4,000,000
____
Col. A S.E .R R .stk. 100,000 100,000 Bond lnt. accrued. 100,000
Col. A S.E.Ry.bd3. 300,000 300,000 Vouch. A pay-rolls 299,150 .
Bond redemp.accts. 25,319
21,530 Taxes accr. unpaid 10,200 . .
D evelopm ent___
75,200 Unpaid coupons..
1,050 ...............
93,500
73,334 Net liability to sub.
Advance ro y alty .. 92,015
S u p p lies................ 102,343 118,163 cos. oncurr.acct. 35,594 .
Cash in banks___ 159,671 150,000 Res.for bd.redemp. 25.191 ___ . . .
2,000 Disc, on V. F. Co.
Accts. & bills rec’le 508,009
5,904 bonds redeemed
6,301
Coalctcoke on hand
3,639 ..............
30,118 Prollt and loss___ 215,510
San Fran, depart. 30,734
..............
8,124
2,488
M iscellaneous___
T o ta l.................. 14.090,334 13,425,000 T o ta l................ .14,090,331 13,425,000
Virginia Iron, Coal & Coke Co.
30 1910.)
President Henry K . McIItirg, N. Y ., Sept. 5, wrote:

{Report for Fiscal Year ending June

T he year Just passed, w hile In som e respects b e tte r th a n th e tw o previous
ones, has, on th e w hole, been u n satisfacto ry . B eginning In A ugust 1909,
th e dem and for iron Increased stead ily and sales w ere m ade In g re ate r
volum e th a n a t a n y tim e for a y e a r a n d a half previous. By th e m iddle
of O ctober prices had risen $2 to $2 50 per to n . A fter N ov. 1 th e dem an d
subsided a n d prices grad u ally fell off, affording very little o p p o rtu n ity for
m ak ing sales, a n d by Ju n e of this y e a r th e low est prices th a t have existed
since th e panic of 1907 w ere In evidence Since Ju ly 1 (to S e p t. 5) prices
hav e still fu rth e r d rop ped $1 per ton
.

Noy.

5

1910.]

THE CHRONICLE

D uring m o st o t th e y e a r w e k e p t th re e furnaces In b la st a n d m o st of our
ore m ines In op eratio n . W e produced 132,277 ton s of coke Iron an d
2,286 to n s of charcoal Iron a n d delivered 142,534 ton s of coke iron an d
1,499 to n s of charcoal iron; so th a t we h ad on h an d Ju ly 1 1910 145,737
to n s of coke Iron a n d 2,397 to n s of charcoal Iron. W e m in ed d u rin g th e
y e a r 1,128,327 ton s of coal a n d m ad e 275,768 ton s of coke. O ur cost for
prod ucing Iron w as slig htly below w h at It w as th e y e a r before. O ur Iron
ore cost 10 cen ts a to n less to m ine th a n in 1909. W e c on tinued to spend
liberal a m o u n ts fo r Im provem ents to bo th furnaces a n d coal a n d ore m ines.
W e retire d by pu rch ase d u rin g th e year $9,000 1st M. 5s, costin g $8,936 25,
a n d $16,000 C arter Coal & Iron Co. bonds, costing $16,780.
W e h av e com pleted th e 6 m iles of narrow -gauge railro ad , know n as th e
R u stin R R ., in ord er to reach th e T asker m ining p ro p e rty , a n d also th e
p ro p e rty know n as th e “ big ore b a n k ,” an d h av e developed th ese prop erties
to som e e x te n t, a n d th u s far th e y hav e fully m e t o u r e x p ectatio n s. As
before s ta te d , th e com pany has very large a n d valu ab le holdings of coal
land s, w hich, If developed as th e dem and for coal Increases m u st, In th e
fu tu re , becom e extrem ely valu ab le.
E A R N IN G S F O R Y E A R E N D IN G J U N E 30.
— Year 1909-10
Y ear 1908-09.Operation of—
Gross.
Net.
F u rn a c e s _______________$2,083,498
$48,100
F o und ries
4,822
Coal m ines _
110,777
Coke o v e n s____
27,674
C rescent W orks
def .751
Saw m ills.
G rist m ills
$517,879 $3,000,060
$198,080
T o t a l ------------------------ $3,695,225
IN C O M E A C C O U N T .
1909-10.
1908-09.
1907-08.
$
$
$
N et earnings from o p e ra tio n -------------517,879
198,080
479,567
In te re st a n d d isco u n t________________
11,434
47,630
F arm s a n d farm re n ta ls______________
7,856
25,253
8,761
H om estead Co. d iv id e n d ____________
25,000
______
M iscellaneous, m erch. disc., & c______
33,147
9,448
40,749
T o ta l n e t Incom e__________
558,882
269,215
576,707
D eductions—
T a x e s -----------------------------------49,280
43,000
31,500
B ond In te re st________________
267,082
268,249
264,879
I n s u ra n c e ___________________
19,602
21,626
21,640
E xpenses of Idle p la n ts______
151,202
178,109
74,753
D epreciation of activ e p la n ts.
65,270
In te re st a n d d is c o u n t..............
73,146
D ead ren ts a n d c o n tra c ts____
39,457
46,760
41,307
M iscellan eo us_______________
399
8,219
1,292
D evelopm ent________________
23,371
14,982
23,391
MoT0fnar
h e^d^
458,762
N et for tth
e y »e al 0nS---------------------------r -------------------------------- df. 688,809
129,927 d f.3580,940
1 1 , 7 3 1 su r .117,945
.w,crJ? cha^eed d u rin g th e y e a r w ith $369,132 for deprcclasnvV ipSrnM 2Mat!lonf coaI land s, 566.683; dep reciatio n of ore land s,
H
S* lm Pr°v e m c n ts to leased prop erties, $61,570: dcp .
„t0 °^ ? 5 5 .P ™ P crtI« - 5190,830: furnace rep airs, $33,642.
1£oC,.„Vias sp cn ? 5322,901 d u rin g th e y ear for Im prov em ents to ow ned
v lz ' : Im prov em ents to ow ned prop erties, $93,104;
im p ro vem en ts to leased p rop erties, $206,021; rep airs to furnaces, $23,710.
B A L A N C E SH E E T J U N E 30.
. ,
1910.
1909.
1910.
1909.
Assets—
$
§
Liabilities—
$
s
Real est. & p la n t.13,795,732 13,512,139 Capital stock......... 10,000,000 10,000,000
E q u ip m en t--------- 278,818 275,232 First mtge. bonds. 4,874,000 4,883,000
Securities ow ned.. 197,303 197,363 Prior lien bonds.. 458,000 474,000
Sales ledger b a l... 600,382
83,465 Unpaid vouchers. 136,204 140,862
Bills receivable... 106,919
40,269 Unpaid pay-rolls. 81,775
50,128
Cash ....................... 89,773
45,488 Accounts payable. 25,948
9,781
M aterials ........... 2,747,707 2,900,019 Taxes accrued............................
15,911
75,582
69,050 Bills payable......... 1,680,655 1,117,217
M iscellaneous___
Profit and loss___ 377,500 229,463 Interest accrued.. 86,958
87,308
Depr’n, &c., fund. 920,207
580,850
T o ta
—-V.
91,l----p. 906. 18,269,807 17,359,089 Total .................. 18,269,807 17,359,089

G E N E R A L IN V E S T M E N T N E W S ,
RAILROADS, INCLUDING ELECTRIC ROADS.
Atlantic Quebec & Western R y .— A dvances by C haring
Cross B an Jr.— A cable dispatch to the “ New York Sun”
dated Nov. 1 says that the Charing Cross Bank of London,
England, which closed on Oct. 17 last, had advanced the
company £1,250,000, the value of the claim being doubtful
See item under “ Banks, &e.,” on a previous page.

Sit; Clifton R obinson, th e no ted engineer a n d m anaging d irecto r of th e
L ondon electric tram w ay s, consented a t a m eeting of th e depositors of th e
bank on N ov. 1 to Inspect th e p ro p e rty a n d estim ate Its value. I t w as in ti­
m ated th a t It m ig ht be necessary to raise a fund to com plete th e road in
order th a t th e asset m ig ht n o t be lo st.— V. 90, p. 1014.

Atlantic Shore Line R y .— Sale D ec. I— T im e for D eposits.
-—The property has been ordered by the Court to be sold at
auction on Dec. 1, and the committee acting in behalf of the
holders of 4% refunding bonds dated 1906, 2d M. 6% bonds
dated 1909 and the 1st prof, stock gives notice that said
bonds and prof, stock must be deposited under the plan by
Nov. 21 1910; the bonds, if not deposited, will take their
pro rata share of the proceeds of the sale.

T he decree of sale w as entered In the U . S. C ircuit C ourt fo r the D istrict
of M aine on O ct. 24 1910 In e q u ity proceedings en title d “ ICnlCkerbccker
T ru st Co., as tru ste e , co m p lain an t, vs. A tlantic Shore Line R y a n d F i­
d e lity T ru st Co., as tru stee* resp o n d en ts.” T he p ro p erty w ill be sold a t
A lfred, Me. (there is no upset price), a n d th e p u rch aser w ill o b tain posses­
sion of th e sam e "freed an d discharged of a n d from all lien of said m ortgage
or deed of tru st d ated April 2 1900, an d of and from the lien of the m ort1 1 5 9 hc d b y sa d F ld el,ty T ru st Co., as tru ste e .”
Kee plan In V . 91, p. 869,
Boston & Maine R R .— N ew S to ck .— 'The stockholders
on Nov. 2 authorized the issue of $10,663,700 additional
common stock. The new stock is to be offered to stock­
holders pro rata to the extent of one-third of their present
holdings at 110, the proceeds to be used for equipment, im­
provements and abolition of grade crossings. It was also
voted to hold annual meetings hereafter in Boston on the
second Wednesday of October.— V. 91,
1095, 1024.
Canadian Northern R y.— R eport.— For year end. June 30:

1253
-------------------

"

■■

■

,i

security holdings in V. 91, p. 942) to make a $25,000,000
4% 50-year refunding mortgage and to issue thereunder at
present $12,317,000 to refund all outstanding obligations,
viz. (V. 91, p. 654, 780):

B onds of D utchess C o unty R R . Co., $350,000; Incom e bonds of
N ew burgh D utchess & C o nnecticut R R . C o., $1,164,500; 1st M. 5% bonds
of P oughkeepsie & E astern R R . Co., $500,000- 1st M bonds of C entral
New E nglan d R R . Co., $1,312,500; gen. M. Incom e bonds a n d scrip of th e
^ 'r o S 'n n n 7,250/ ? 01 dem an d no te of th e C entral
New Fnrl1g lailljL ^ - 1 Vsq i ’f'n 0,000,,i ,a r!d dem and no tes referred to abo ve,
heid m usi, noT be f i n d e d . - E d ? - V d 9 ^ 1 3 6 2 . thCSC n ° tCS th e C° mmlSSl0n
Central Park North & East River R R .— N ew J o in t Ar­
Metropolitan St. Ry. below.— V. 91, p. 7*90.
Central Vermont R y.— R ep o rt .— For year ending June 30:

ra n g em en t— See
F isc a l
Y ea r.

G ro ss
E a r n in g s .

1909-10-------- $4,088,411
1908-09_____ 3,795,332
— V. 89, p . 1223.

N-----e t (a f t e r
T a x e s , & c .)

$712,092
693,164

Other
Incom e.
$33,720
22,980

F ix e d
C h a rg es.

$721,038
713,027

B alance,
Su rp lu s.
$24,774
3,117

Chicago & Alton RR.— N ew General M an ager. — Frank W.
Morse, formerly with the Grand Trunk Ry. of Canada, has
been appointed General Manager.

„ 9- M- A ch ert. V ice-President in charge of op eration , has resigned, th e
resignation tak in g cITcct N ov. 1.— V. 91, p. 1095. 1154,

Chicago Consolidated Traction Co.— S ale N ov. 3 0 — The
master's sale is advertised for Nov. 30 at Chicago.

t i J t hrnSvrrrrt
a111?ropert5r of th c C onsolidated C om pany, Including
tnlbV b 27eidsnn
°,f. 189°* aU P roperties ow ned previous
St R v C l c e m C h i c a g o E lectric R y . C o.. N orth Side E lectric
, Proviso S t R y ., C hicago E lectric T ra n sit Co., O gden S t.
R y ., Chicago & Jefferson U rban T ra n sit Co. a n d E v an sto n E lectric R v
ail(J i? s2 a d prop erties now ow ned by C hicago N orth Shore S t R y T itle
w in be given to th e pu rch aser free from all the^llen of all th e several exlsTlug
m tges. of th e com panies n am ed . See p lan , V. 90, p. 1613; V. 91, p. 3 7 , 1 1 5 9 ,

Settlem en t. — Chairman

Blair on Oct. 29 announced:

As a resu lt of several w eeks’ n eg o tiatio n s w ith ban k ers an d o th e r In­
terested p arties, th e officials of th e C hicago R ailw ay s Co. are able to a n ­
nounce th a t the m eans are assured for th e com pletion of the reh ab ilita tio n
of th e p ro p e rty of th e Chicago R ailw ay s Co. p u rsu a n t to Its ordinance, as
well as for the acq uisition and re h ab ilita tio n of th e p ro p e rty of th e Chicago
O c t^lO lald* ^ rac t on C°- p u rsu a n t to th c req uirem ents of th e ordinance of
T he opposition th re ate n ed by certain holders of or p arties Interested In
wmferoH
Conso*ldate(1
Co. th4 a^n%90?,',
bonds
len d ered negligible b y reason
of th e factT raction
th a t m ore
of thhas
e enbeen
tire
«iSUn n fth 8 aj , , ,nds has been purch ased an d paid for In cash a t $300 per
$1,000 bond Hat, a n d delivered to in terests friendly to th e C hicago R y s. Co.
friend ly Interests hav e com pleted arran g em en ts for th e acquislH>“
H a rrity Judgm ent of $1,344,685. T he Chicago R ailw ays Co.
can , theiefo re, sta te th a t th e ordinance of O ct. 10 will be accepted .
..V ^ e s sta t,c ‘h a t, as ow ner of on e-third of the Y crkes
tm e d
/,,n !,drin 1 ’^ i 4’0f°*°» b? nds,’ sl‘c will claim th a t th c estate Is enww in ini rtheM C ircuit
n ^C ourt
h i onl 'rO?ct.P 0?28? 3g wralth
rest.Injunction
Ju d g e B nreald­
n te d2 ya e aters’
m pinoterary
S
S. Ow sley from disposing of th e bonds bf th e e sta te ,
b u it w as also begun in th c .Supreme C ourt in th is c ity to p re v e n t th e de­
livery of th e bonds to the p u rch asers.— V. 91, p. 1003, 1169.

Chicago & Southeastern R R .— N ew C o m p a n y. — See South­
ern Indiana Ry. below.
Chicago Southern R y.— S a le . — See Southern Indiana Ry.
below.— V. 91, p. 336, 870.
Copper River & Northwestern R R.— S ta tu s.— 1The road is
now completed from Cordova, Alaska, to the Kuskulana
River, about 14.5 miles, and in operation as far as the Chitina
River, and it is expected to have the rails laid to Kennecott, in the Bonanza copper field, 200 miles from Cordova,
b7 r?u-xfc sprinS’ The “ Railway and Engineering Review”
of Chicago of Oct. 22 contained an illustrated descriptive
article on the road.— V. 90, p. 1490.
Cuba R R .— L isted . — The New York Stock Exchange has
listed $600,000 additional 1st M. 5% 50-year bonds, due 1952
with authority to add $8,000 additional bonds on notice of
sale, making the total amount to be listed $11,918,000.

T he proceeds of th e sale of th e $618,000 bonds a re being used chleflv In
th e con stru ction of th e M artl-S an L uls-B ayam o-M anranlllo extension,
w hich Is now in o p eration , a n d In th c erection of sta tio n buildings a n d th e
pu rch ase of ad d itio n al equ ipm en t a n d rolling sto ck .
S
On A ug. 15 1910 th e com pany borrow ed from R o b ert Flem ing of L ondon
and associates $2,000,000 on 6% no tes, du e A ug. 15 1912, secured by th e
deposit w ith th e F arm ers’ L oan & T ru st Co., tru ste e , u n d er tru s t Inden ture
h n nH ^fv ^bi15 r910,° 53,300,000 linprovcm cn t a n d eq u ip m en t m tg e.
u’ho (, Y \91 ’ R- o88d INl0 o th e r of said bonds has been Issued or au th o rize d .
the1 suhsVdvnrtn^n^torcSh
h,‘m .adJ?i?rn
filartl-S
w !tb oanu t LPuls-B
o sin gayam
th e o-M
A ct anzanlllo
un der w hich
r building
th e M
cxan d t he^r uhanb' r n tw ? Installm en ts a t th e ra te of $5,000 per kilom etre,
subsld v CSOboonGn ^ ill t, ls tb ere*ore now legally bound to p ay th e full
du
c k 0. sl*In antVial
ts. nanv's
T he anresont
m ount
ciuce Isis knnm
ap p rox?m
x im »tPi,r
ately $«rl,ove^00,00
a d d itioInstallm
n , th c en
oom
«p^nnnC^ ne^ » l0
C uban G overnm ent Is to be reduced by $154,950 being
$o,000 per kilom etre for 30.99 kilom etres of line bu ilt before th e su bsld v
agreem en t w as m ade and la ter Incorporated In th e M artl-S an L uls-B ayam o^
M anzanillo extension. A rrangem en ts a re now un d er w ay for th e form al
discharge of $154,950 of th e d e b t to th e C u b a n ^ V e r a m e n tV n d t o f t h l
l I S o . - V 91 p y ^ T T s S 0 th<3 flrSt SUbSldy ln sta » m en t a m o u n tin g to

Hocking Valley R y . - In d ictm en ts.—^The Federal Grand
Jury on Nov. 2 returned an indictment of 28 counts against
the company and one of 9 counts against the Sunday Creek
Coal Co. Each count charges concessions granted to and
discriminations in favor of the Sunday Creek Co. against
competing coal companies, in violation of the Inter-State
Commerce Law.

It Is sta te d th a t since 1903 w hen th e H ocking V alley secured S3 2 1 8 5 0 0
or th e $4,000,000 stock (o utstan din g a m o u n t, 53,751.200) w hlch w as la ter
tran sferred to th e C entral T ru st Co. of New Y ork to 1><• rc-Vonvcvc,l if, h i
com m odity clause of th e H epbu rn law Is linally held to be con stitutio nal6
the coal c om pany’s freight bills hav e been allow ed to a re u m u k U e u n til th e v
reached the am o u n t of $2,445,000. a n d th a t a A o rU 1910 th e c « l r a m ™ ?
su b stitu te d in place ot th e notes given th ercfo r lts 5% d e L tn u ic hnPn r f /
^ claim ed th a t th e giving of w h a t Is term ed un lim ited cred it
to the coal com pany w hile cash p ay m en t or securltv for freight bills w as
p.
o f? h c 1coalfc o m i» n v r thnV>S?«hS!2Blltutc#s *}n lllegaI discrim in ation In fav or
fa r t
e
s
t
e
d
0ne of ll!c m ost im p o rta n t questions so
in n e ^ m - j n ’lv fn B 1
X ftE a r n s . F ixed Chqes. B a l.. S u rp . m ay a m o u n t from $ l,0 0 o ‘ to $20°00™Co if each c o u n V 'o r ^ m S u r a o f
V G9i?°p0 8841,n8t6 3.h 1 5 L llr0ad ^ * 180’000 a *a ,n st ‘’h e ccal com pany.—
- V . T i 7 p .1% m V 77176. 7 '° 15’403 3,566,362
Central New England R y .— N ew B ond Issu e .— The Public
Service Comm., 2d District, on Oct. 28 authorized this sub­
sidiary of the New York New Haven & Hartford HR. (see




Hudson & Manhattan R R .—Car T ru sts O ffered.— T h e
Guaranty Trust Co. of New York, the trustee, is offering 5%
car trust Series B, dated Oct. 1 1910, due $25,000 semi-an­
nually from April 1 1911 to Oct. I 1920. Authorized and

1254
issued $500,000. Interest A. & O.
circular says in substance:

THE CHRONICLE
Par $1,000 (c*).

A

Secured by a lien on 50 all-steel passenger coaches each equipped w ith
m o to r of 360 h . p . a n d full m u ltip le con tro l, having end an d side doors.
T he to ta l cost to be $625,000 or over, of w hich a t least 20% will be paid in
cash by th e com pany a n d th e balance by m eans of th is Issue of no tes.
E ven th o u g h th e sy stem Is still incom plete an d im p o rta n t term in als of
th e com pany h av e n o t been reached, th e com pany rep o rted for th e year
en d ed Ju n e 30 1910 n et incom e of $1,938,679, w hich w as m ore th a n su f­
ficien t to p ay Its fixed charges for th a t period. [The extension from 6 th Av.
a n d 23d S t., heretofore th e up tow n term in al in N . Y ., C ity, to the new s ta ­
tio n In th e basem en t of th e G im bel Illdg., a t 6th A v. a n d 34th S t., w ill be
opened on N ov. 10.— E d.]— V. 91, p. 1100, 1095.

N ew O fficers. — William

Everdell Jr., formerly Assistant
Secretary, has been elected Secretary to succeed C. W. King,
who resigned, and Kenyon B. Conger, Assistant Secretary.
— V. 91, p. 1160, 1095.
Indianapolis (Ind.) Newcastle & Toledo Electric R y.—
Foreclosure S u it. — George A. Buskirk and Louis F. Smith,
trustees under the mortgage of 1905, have filed a suit in the
Superior Court at Indianapolis to foreclose the mortgage.

[VO L. LXXXXI

synd.cate formed for the purpose of controlling the Montreal
St. R y., with the avowed object of amalgamating the com­
pany with the Canadian Lt. & Pow. Co. (V. 91, p. 591, 655):

E . A. R o b e rt, P res.; J . W . M cConnell, V Ice-Pres.; D . L o m e M cG lbbon,
F . H ow ard W ilson, J . M. W ilson, W . C. F inley a n d George G. F o ster, K .C .,
a t least five of these being directors of th e C anadian L ight & Pow er Co.;
Sec. P a tric k D ubee w as re-elected. [The “ T o ro n to G lobe" says th a t the
old d irecto rs found th a t th e R o b e rt group had proxies for 49,500 shares
a n d exp ected to have a couple of th o u san d m ore a t th e m eeting , w hile th e
m en th en In pow er h ad proxies for only 30,000 to 35,000 shares].— V .91
p. 1106, 871.
,

N ebraska Traction & P ow er C o.,O m aha, N eb . — Receiver
s h ip .— Judge Munger in the United States Circuit Court at

Omaha, Neb., on Nov. 2, on application of the Carbon Tim­
ber Co., which has a claim for pine ties furnished in the con­
struction of the line from South Omaha to Ralston, appointed
Arthur E. English receiver.

T he c om pany’s line Is In operation from S o uth O m aha to R alsto n , a n d
a b o u t tw o-thirds graded from R alsto n to PapIUIon. T here are said to be
$154,000 bonds o u tsta n d in g , w ith $12,000 in terest overdue: also a b o u t
$8,000 due for m aterial a n d supplies an d $5,000 for labo r. I t Is sta te d th a t
th ere is now an average m o n th ly deficit of $300, a n d u n til th e road Is
com pleted Into Paplllion, a t a n estim ated cost of $40,000 in a d d itio n to
$14,000 subsidies from farm ers a n d business m en, the revenues will n o t be
sufficient to m eet o p erating expenses. R eceiv er’s certificates, it is said,
will be Issued for th is pu rp o se.— V. 89, p. 994.

O nly $8,000 o r $9,000 of th e bonds h av e been sold, b u t a b o u t $2,600,000
a re o u tsta n d in g as collateral. O ne of th e chief purposes of th e su it, It Is
sta te d . Is to clear th e title of th e p ro p e rty , th e re being over 150 sm all claim s
ag ain st It, ru n n in g from $10 to $100 or th e rea b o u ts, th e valid ity of m an y
of w hich Is q u estion ed . T he au th o rized Issue of bonds un d er th e m ortgage
N evada C ounty N arrow -G auge R R . —-D ividen ds R esum ed.
Is $4,500,000. Several m o nth s since Ju d g e C arter In th e S uperior C ourt
a t Indian ap olis ordered $1,837,000 of th e bonds to be canceled on th e — This company, operating a 3-foot gauge road from Colfax
ground th a t th e y w ere In th e h a n d s of persons w ho h ad n o t paid a n y con­ to Nevada City, Cal., 2 2 % miles, has declared dividend N o.11
sid eration for th e m .— V. 89. p. 778.
Interborough Rapid Transit Co., New York.— A greem ent
Public Service Commission, First District,
on Nov. 2 asked the Board of Estimate to approve resolutions
adopted on that day for the use of the Steinway Tunnel
(N. Y. & Long Id. R R .) as part of a new rapid transit route.

at the rate of 2 %
on Oct. 25 said:

Janesville (Wis.) Traction Co.— R eorganized C om p a n y. —
This company was incorporated in Wisconsin on Oct. 27, with
$125,000 capital, as successor of the Janesville St. R y., pur­
chased at sheriff’s sale on Oct. 24 by Thomas Nolan. Incor­
porators, Thomas Nolan, William Murphy and Jennie L.
Burke.— V. 91, p. 1160.
Los Angeles Railway Corporation.— Incorporated. — This
company was incorporated under the laws of California on
or about O ct. 22, with $20,000,000 capital stock, in $100 shares,
all subscribed, as successor of the old Los Angeles Ry. Co.
A $20,000,000 mtge. is proposed.

ceeds realized from the sale of certain securities heretofeore
lodged with the trustee as part collateral for said bonds.”
Payment will be made not later than Nov. 21.

C ollateral sold consists of $500,000 N orfolk & A tla n tic T erm in al R y .
1st M. bonds, th e proceeds of w hich, un d er th e term s of th e m ortgage, h av e
been lodged w ith th e tru ste e for th e purchase and retirem en t of th e N ew port
News & Old Point Com fort R y. & E lectric Co.’s general m o rtg age bonds.
T he loan arran g ed for last S eptem b er In connection w ith th e retirem en t
of $300,000 notes has been liq u id ated throu gh th e sale of general m o rtgage
bo nd s.— V. 91, p . 791.

Massachusetts Electric Companies.— R eport. — For year
ending Sept. 30 earnings of controlled com panies were:

N ew Y ork N ew H aven & H artford R R . — B onds o f S u b ­

w ith C ity . — The

%.

The “ San Francisco News Bureau”

T his Is th e first dividend declared for som e tim e, ow ing to th e expense
en tered Into by th e com pany In th e new cut-olf betw een G rass V alley and
Colfax. [C apitalization a t last accounts: Stock Is $400,000 In $100 snares;
o u tsta n d in g , $250,200: fund ed d e b t, $250,000 1st M. 7s; o u tsta n d in g ,
$199,000.]— V. 79. p. 2796.

T he Com m ission says th is 13 th e first step in th e consum m ation of e x te n ­
N ew port N ew s & Old P oint R ailw ay & Electric Co.— T en ­
sive n eg otiation s w ith th e com pany for ad d itio n a l rap id tra n sit facilities
w hich Include th e featu res con tain ed in the c om pany’s recent offer to op erate ders A sk e d .— The Maryland Trust Co., Baltimore, trustee,
th e tu n n el a fte r com pletion by th e c ity , d o ub le-track p resent elev ated lines,
build extensions In th e B ronx a n d a connection for th e Second A venue will until noon, Nov. 16, receive tenders for the sale at a flat
E lev ated lines across th e Q ueensboro B ridge to a n d from L ong Island C ity price of general mortgage bonds dated 1901 out of “ the pro­
bridge plaza w ith o u t a d d itio n a l fare. C om pare V . 91, p . 870, 713.

N ew York Central & H udson River
cial P la n .— The “ Financial America”

RR .— R eported F in a n ­
yesterday said:

R um ors w ere c u rre n t th is afternoo n th a t th e N . Y . C. & II. R . R R . w as
o u t to bring o u t a large bond Issue. Investig ation reveals th e fac t th a t
T he Incorporators are H ow ard E . H u n tin g to n , G eorge C. W ard , Jo h n J . awbhile
no definite arrangem en ts have yet been m ade, th e com pany has u n der
A kin J E B row n, W . E . D unn, S .M . H askins. A lbert C ru tc h e r. H ow ard consideratio
n som e financial plans w hich h av e n o t y e t reached m a tu rity .
E . H u n tin g to n subscribed for 19,994 sh ares a n d each of th e o th e r Incor­ Indication s arc
th a t this financing will prob ably ta k e th e form of sh o rt-term
p o rato rs subscribed for 10 shares.
notes. I t Is estim ated th a t th e com pany will need $30,000,000 to $40,­
000,000, b u t w hether th is m uch will be provided for by a sh o rt-term no te
The company has purchased 100 miles of additional lines, Issue
can no t be learned . I t Is said In banking circles th a t possibly th e
and will now operate over 350 miles of track as one system, com pany m ay place an Issue of sh o rt-term notes ab ro ad . U p to this tim e,
ever, th e w hole thin g has ad v an ced no fu rth e r th a n th e te n ta tiv e stage.
with general transfer privileges.— Y. 91, p. 1160, 1096, 717. how
(Com pare M ichigan C entral R R . In v . 91, p. 1160.)— V. 9 1, p. 1020, 0o5.

F iscal
Gross
N et
Charges
N et
P ref.
Balance, s id ia r y .— See Central New England R y. above.— V. 91, p.
Year. E arn ings. E arnings, and Taxes. Incom e. D ivs.
S u rplu s. 1026, 1161.
1909-10.38,560,949 $3,200,054 $1,792,937 $1,407,717 $95,544 $1,312,173
Norfolk Southern R R . — S ale of C ollateral N otes to F inance
1908- 0 9 . 8,051,320 2,903,959 1,778,129 1,125,830 42.509 1,083,261
F rom th e su rp lus as above In 1909-10 w as d ed ucted $268,992 for recon­ P resent R equ irem en ts .— This new company has sold to the
stru c tio n w ritte n off, a g ain st $103,835 in 1908-09, leaving $1,043,181 In Central
Trust Co. of N. Y . $4,360,000 6% collateral gold
1909- 10, a g a in st $979,426.

B on ds o f S u b sid ia rie s. — The Massachusetts Railroad Com­ notes dated Oct. 1 1910 and due Oct. 1 1911, but subject to
mission yesterday approved the issue at par of $266,000 renewal for one year, and also redeemable as an entire issue
50-year 4% bonds by the Boston & Northern Street Ry. Co. at any time at par! and int. at the company’s option. Par,
and $25,000 by the Old Colony Street R y., to pay floating $10,000, $25,000, $50,000 and $100,000. Int. A. & O. at
office of Central Trust Co. These notes are secured by de­
debt.— V. 90, p. 1491.
Metropolitan Street R y., New York.— Yew J o in t R ate posit with the said trust company, as trustee, of the entire
A rran gem en t. —The receivers of the company have agreed present issue of $5,780,000 new 1st & refunding mortgage
with the Central Park North & East River R R ., subject to 50-year 5s dated Jan. 1 1910, and the sale provides for the
the approval of the Public Service Commission, to put into company's needs until such time as the new bonds can be
effect on Dec. 15 a new transfer or joint-rate arrangement advantageously marketed.
[or which the Proceeds of the Notes have been or w ill be Used.
between the 59th Street crosstown line and the intersecting P ay mPurposes
en t of old collateral tru st notes (paid N ov. I 1910)------- _ .$1,980,000
R edem ption of receiver's certificates due D ec. 29 1910, called
north and south lines of the Metropolitan company.
T h e a g reem en t provides for an 8-cent fare for passengers who tran sfe r
from a n y of th e M etropolitan n o rth and so uth lines to th e 59th S tree t line,
o r vice versa, b u t w itho ut th e privilege of re-tran sfer. A 10-cent jo in t
r a te Is to be m ade for a tran sfe r from a n y of th e no rth and south M etro­
po litan lines to th e crosstow n line, a n d then ce by a re-tran sfer to a n y o th e r
o f th e M etrop olitan lines run n in g In th e sam e directio n.
T he agreem en t Is m ad e In an end eavo r to m eet th e w ishes of th e Com­
m ission, n e ith er com pany a d m ittin g th e pow er of th e C om m ission to com ­
pel th e estab lish m en t of jo in t rate s betw een Independent stre e t surface
railro ad com panies nor th e reasonableness of th e rate s fixed. I t Is desired
to ascertain by a ctu al experience w h eth er th e change can be m ad e w ith o u t
u n reason ably reducing n e t earnings.
Earnings o f System.
— Net Income— —Deduc’s 1910— Bal­
Year ending — Gross Earnings—
Earnings1909. Interest. Rents,dkc. ance.
1910.
1909.
1910.
June 30.
$
S
$
S
$
S
S
Metropol’n.1 3.217,117 13,198.779 2,942,531 2,344,616 590,000d2,018,119 334,412
619 12,195 50,471
C.P.N.&E.R 614,500 a512,755 63.286 a76,320
b 6 ,lll 87,181 12,013 *1,679
2d Avenue. 829,402 b509,504 97,514 c*10,576
1,530
3.133 *83,673
28th& 29th. 14,986 cl7,968 *79,010
________
Total ...14,676,005 14,239,006 3,024,321 2,416,470 679,330 2,045,460 299,531
a For period from Aug. 6 1908 to June 30 1909 only, b For period commencing
Nov. 13 1908. c For nine months In 1909. d Includes rent for lease of roads, $1,­
810,661: other rent deductions, $202,449 and other deductions, $5,009. * Deficit.
—V. 91, P. 717, 336.

for p ay m ent N ov. 10 1910------------------------------------------------------- 1 . 0 0 0 , 0 0 0
R edem ption of receiver's certificates due Dec. 1 1910----------------- 442,865
R edem ption of $47,000 R aleigh & Pam lico Sound a n d $50,000
Suffolk & Carolina b o n d s_____________________________________07,000
A dditional w orking cap ital an d p ay m ent of su n d ry claim s an d
deb ts. Including am o u n ts due by receivers______ ________- - - - f i a n c e
T he new “ first & refun ding " bonds are secured by a 1st m tg e. on z d j
m iles of ro ad, a n d , su bject to un derlying Issues ag g regating $3,zzu,uoo,
on 271 ad d itio n al m iles, an d th ey have a first lien on p ractically the en tire
rolling stock an d equ ipm ent: also a first lien on the en tire sto ck ($1,000,000)
an d all the first m ortgage bonds ($5,000,000) of the Jo h n L . R o per L um ber
Co., w hose p rop erty w as estim ated In 1909 by cou rt officials a t $12,78o,000.
T hey are fu rth e r a lien on the lease ru n n in g u n til J a n . 1 1996 of m ain line
of A tlantic & N orth C arolina R R . Co., G oldsboro, N . C ., to M orehcad C ity,
N . C ., a b o u t 95 m iles. (See page 94 of "R ailw ay & In d u stria l S ectio n ,”
te x t an d ta b le .) For "W estern ” in last w eek’s sta te m e n t read “ S o u th e rn .’

Favorable D ecisio n .— Judge McLemare in the State Court
at Norfolk, Va., this week sustained the demurrer of the
N. & S. Ry. reorganization committee to the bill of the
Zell-Vandyke syndicate of Philadelphia in its fourth attempt
to annul the sale of the property to the New York interests.
(V. 90, p. 1554.) An appeal is expected to be taken to the
State Supreme Court.—-V. 91, p. 1026.
Northern Central R y . —-Lease A p p ro v ed .— The stock­
M issouri K ansas & T exas R y . — Lease P roposition W ith ­ holders, by a vote of $17,473,600 out of $19,342,550 out­
d ra w n .— A majority of the Texas Railroad Commissioners standing stock, ratified the lease of the road to the Pennsyl­
having expressed disapproval of the proposed 5-year lease vania lilt, for 999 years from Jan. 1. The $881,850 stock
of the Texas Central R R ., the application was withdrawn.— voted in opposition was mainly represented by the Scott
stockholders’ committee (A. E. Waters, Chairman), who
Y. 91, p. 1160, 799.
stated that an appeal may be made to the courts to prevent
'S M ontreal Street R y . — See “ Annual Reports.”
W N ew Control— N ew O fficers .— At the annual meeting on the lease. The directors of the Pennsylvania R R. have 30
Nov. 2 the following entirely new board was elected by the days in which to consider the acceptance of the lease.




THE CHRONICLE

Nov. 5 1910.1

1255

W hile th e lease becom es effective as of Ja n . 1. delivery of possession will
n o t be m ade u n til M arch 1, unless before th a t d a te th e M aryland C ourt of
A pp eals,on an agreed sta te m e n t of fa c ts, holds th a t the lease does n o t com e
w ith in th e scope of the sta tu te s of M aryland au th o rizin g th e red em ptio n
of leases of la n d . T he G round R e n t R edem ption law of M aryland, w hich
w as passed m erely to d e stro y the ground re n t system In B altim ore, b u t is
n o t restric te d by Its term s to th a t system , provides th a t all leases fo r m ore
th a n 15 years are redeem able a t th e cap italizatio n of th e re n t reserve of G% .
If th e A ppellate C ourt decides th a t th e lease Is covered by th e provisions
of the red em ptio n law , th e a u th o riza tio n will be void.

T exas Central R R . — See Missouri Kansas & Texas
above.— V. 91, p . 1162,871.

R y.

I t is alleged th a t the sto ck w as w o rth m an y tim es m ore th a n the pricy
a t w hich It w as sold. I t Is dem anded th a t the P h ilad elp hia B altim ore &
W ashington l i l t , re tran sfe r the sto ck , to g eth er w ith th e 5375,000 stock
paid as a sto ck div idend a n d all cash dividends, w ith legal Interest.
V . 91, p. 1161. 1026.

As a resu lt of a personal Inspection of th e pro p erties m ade b y th e m em ­
bers of the c o m m ittee a n d of a n ex h au stive exam in atio n Into th e ir values,
m erits a n d stra teg ic po sition , a n d of th e claim s of bondholders ag a in st th e
W abash road an d th e P ittsb u rg h & Toledo S y n d icate, a n d upon th e su pple­
m e n tal traffic a n d track ag e agreem en t of 1904, th e com m ittee Is satisfied
th a t your bo nd s are Intrinsically w orth largely in excess of th e p resent
m ark et price (w hich Is a lre a d y m ore th a n 50 % abo ve th e selling price of the
bonds w hen th is com m ittee w as organized).
T he com m ittee has every reason to believe th a t the resu lts of th e variou s
su its now in progress a n d th a t a re a b o u t to be prosecuted by th em to safe­
gu ard a n d enforce the long-neglected rig h ts of bondholders will ad d m a ­
terially to th e p resent value of th e bonds. T hese proceedings include,
am o ng oth ers: (1) T he enforcem en t a g a in st th e W abash R R . of w h a t
bondholders w ere led to believe c o n stitu te d a n effective g u a ra n ty b y the
W abash a n d th e W . & L. E. of th e In terest on th e ir bonds as em bodied In
th e su pplem en tal traffic agreem en t of 1904; (2) a n effort to enforce th e lien
of th e b o nd hold ers upon th e p ro p e rty a n d earnin gs of th e XV. & L . E ., u n der
th e sam e ag reem en t, in p rio rity to th e $8,000,000 W . & L . E . n o te s a n d th e
general m o rtg age to th e C entral T ru st Co.; (3) su it to establish a sto ck lia­
b ility of $8,000,000 ag a in st th e W abash R y . in fav o r of the bondholders
an d o th e r credito rs of th e W . P . T ., in w hich the com plaint has Just been
filed In th e F ederal C ourt a t P ittsb u rg h : (4) an actio n by th e M ercantile
T ru st Co. as tru ste e for th e bondholders to recover from th e W abash road
th e sto ck of th e P ittsb u rg h T erm in al R ailw ay & Coal Co., w hich Is claim ed
to hav e been Im properly w ith d raw n from u n der th e m ortgage.
T he receivers of th e W . P . T . R y . hav e, a t the in stan ce of th is com m ittee.
Interposed a n answ er in th e pen ding foreclosure su it a n d reopened the
proceedings; a cross-bill has also been filed as th e result of w hich th e W abash
R y . has for th e first tim e been m ade a p a rty to th is litig a tio n , an d th e coun­
sel for th is com m ittee Is proceeding to ta k e testim o n y on behalf of th e re­
ceivers looking to w a rd enforcing th e obligations a ssu n u d by th e W abash
road to th e bond hold ers.— V. 91, p . 1162, 1097.

W abash-P ittsburgh Term inal R y .— N otice by C h aplin Com ­
m ittee. — The committee of which James C. Chaplin is Chair­

man invites the holders of 4% 1st M. bonds and certificates
of deposit of Central Trust Co. representing these bonds to
deposit said bonds and certificates with the Columbia Trust
S u it fo r R eturn o f U nion R R . S to ck .— J. Livingston Minis Co., 135 Broadway, N. Y . City, not later than Nov. 20. See
and other minority stockholders acting with the Waters advertisement. The committee says in part:
Follow ing th e refusal of the W allace com m ittee to su rren d er deposited
committee on Oct. 31 filed in the Circuit Court at Baltimore
a n d Its a nn oun ced d e term in atio n to reta in such bonds a g a in st th e
a suit for an accounting of the sale by the Northern Central bonds
p ro te sts of th e dep osito rs, a te st su it lias been begun in th e U . S. C ourt a t
in 1894 of $500,000 stock of the Union RR. to the Phila­ New Y ork a g a in st th e C entral T ru st Co. and th e m em bers of th e W allace
com m ittee to com pel th e su rren d er of all such bonds, a n d to p re v e n t th e
delphia Baltimore & Washington RR. at par.
W allace co m m ittee from assum ing fu rth e r to rep resen t th em .

Ocean Shore R y ., California.— N ew P la n . — The bond­
holders’ committee requests the deposit of the bonds with
the Union Trust Co. of San Francisco under the terms of a
new plan which provides for the issuance by a successor
corporation, after foreclosure, of the following:

1st M. bonds, of w hich say 5 2 0 0 , 0 0 0 to secure or pay preferred
claim s, the rem ain der for com pletion, equ ipm en t a n d lmprov em ent of th e railw a y -----------------. . . . . . . . . ------53,o00,000
2nd M 5/o bonds. If the revenues shall no t bo sufficient to
p ay o p erating expenses, m ain ten an ce, Interest a n d sinking
fund on 1st M. bo nd s, a n d sinking fund on 2nd M. bo nd s,
th e In terest, or a n y p a rt of the Interest, on the 2nd M. bonds
m ay be paid in com m on stock a t par. T o tal Issue----------------- 5,500,000
Pd Of these 2nd M. bonds, 55,000,000, or so m u ch thereo f as
m a y be necessary, are to he given In e x c h a n g e ,$ fo r 5 ,for pre­
se n t 1st m tg es., a n d $500,000, or so m uch thereof as m ay be
necessary, to be given a t p ar In lieu of the accu m ulated in terest
E. due on th e existin g bonds to N ov. 1 1910, w ith Interest on such
accu
m ulatio
n. non-cutn., to .be used
. .as far as necessary ,In the
,
P ref. sto
ck , 5%
e xtin guishm en t of unsecured claim s, sta te d a t the presen t tim e
w ith Interest to N ov. 1, to be a b o u t $425,000------------------------ 500,000
Com m on sto c k ----------------------------------------------------------------------------- 8,500,000
T o be used as far as necessary as a bonus to those
providing the m oney req uired to finance th e pro­
tectiv e bid to be m ade by th e co m m ittee_________ $425,000
Issuable (so far a s n o t needed as a bonus to effect
sale of 1st M. bonds) to holders of existin g 1st M.
bonds as p a rt consideration for th e ir acceptance
of 2nd M. b o n d s________________________________x 2 ,875,000
T o be reserved tor use If needed to p ay coupons of
new 2nd M. b o n d s______________________________ 1,375,000
To holders of existin g com m on sto ck , pro r a t a ------13,825,000
x N ot to be d istrib u te d u n til the com m ittee tu rn s over the m an ag em ent
to th e new com pany .
,
T his la st a m o u n t, $3,825,000, m ay be called upon for con trib u tio n to
m eet Interest on th e new 2nd M ., b u t only to the e x te n t of 45% of a n y
deficiency In In terest req uirem ents on 2nd M. bonds a fte r e x h au stin g the
block of $1,375,000, th e o th e r 55% of a n y such deficiency to be paid from
the bonus sto ck of the bondholders. T he com m ittee will a c t a s directo rs
or a p p o in t the d irecto rs un til such tim e as th e new co. shall pay in terest
a n d sinking fund charges on th e first an d second m ortgage bonds for one
year, an d th e rea fter the m angem ent w ill be tu rn e d over to the new com ­
p a n y .— V. 91. p. 1161, 1026.

P ittsb u rgh Shaw m ut & Northern R R .— Receiver’s E qu ip­
m ent T ru st C ertificates. — The Public Service Commission,

Second District, has authorized receiver Frank Sullivan
Smith to issue $220,000 equipment trust certificates, the
proceeds to be used in part payment for 250 steel coal
cars.— V. 91, p. 1161, 39.
P ittsb u rgh Sum m erville & Clarion R R .— S ale. — The road,
it is reported, has passed into the hands of George W.
Mageath, of Omaha, Neb., and other capitalists, who had
an option on i t ..

II. B uckingham , form erly connected w ith the Chicago B u rlin gton &
Q uincy R R . a t O m aha, Is to be V ice-Prcs. a n d G en. M gr. of the ro ad .
T he road ex ten d s from Sum m erville to C larion, P a ., 15.4 miles; S tra tto n vllle to Mill Creek, 3.12 m .; B rush R un J e t. to R ch o b o th , P a ., 2 m .; to ta l,
20.52 m iles. S tock, $500,000. B onds, $500,000 1st M. 40-year gold 5s
($1,000c*), due O ct. 1 1044; in t. A. & O. a t F arm ers’ D eposit N a t. B ank,
P ittsb u rg h , P a.; U nion T ru st Co., P ittsb u rg h , tru ste e . F or year ending
Ju n e 30 1909 gross earnings w ere $59,307; n e t, $26,130; in t., taxes, &c.,
$30,042; balance, deficit, $4,812.

W est P enn Traction Co.— E a rn in g s. — For

9 months:

9 Albs, en d in g S ep t. 30 1910.
G ross receipts, $1,484,642; oper. e x p . and tax es, $786,455; n e t. . .$698,187
O th er Incom e, Including dividend on W est P enn R ailw ays Co.
com m on sto ck (2% per annum ) for 9 m os. ended S ep t. 30 1 9 1 0 .. 48,690
N et Incom e_______________________________________________________ $746,877
F ixed Charges Jor 9 M onths—
In te re st on bonds of W est P enn R ailw ays a n d Its subsid iaries_____ $345,949
A m o unt req uired to p a y 9 m o n th s’ dividends on sto ck of W est
P en n R ys. a t ra te of 5% per an n u m on $2,750,000 pref. an d
2% per an n u m on $3,250,000 com m on................................... ................ 151,875
S urplus a fte r all ded u ctio n s---------------------------------------------------------- $249,053
N ine m o n th s’ dividend a t ra te of 6% per a n n . on $1,625,000 6%
cum . pref. sto ck of W est P en n T raction Co-------------------------------- 73,125
S urplus a fte r dividend on T ractio n p re fe r re d ........................
$175,928
— V . 91. p. 1027, 590.
E a rn in g s o ] C o m p a n y and Its Su bsidiaries f o r

INDUSTRIAL, GAS AND MISCELLANEOUS.
Acushnet Mill Corporation, New Bedford, Mass.— 100%
Stock D iv id en d . — The Acushnet Mill has declared a 100%
stock dividend, increasing the stock to $1,000,000. In 1908
and 1909 16% cash dividends were paid (Q.-M.). Spindles
owned, 105,336; looms, 3,700.
Allis-Ohalmers Co.— See “ Annual Reports.”
N ew D irector. — Frank O. Wetmore has been elected a
director, to succeed William W. Allis, retired.— V. 91,p.277.
American Tobacco Co.— D ivid en ds — 40% to Shareholders
in 1910.— The directors have declared the usual quarterly
dividend of 2>£% and 7 lA % extra on the $40,242,400 com­
mon stock, payable Dec. 1 to holders of record Nov. 15. The
same “ extra” dividend was paid in the three preceding quar­
ters of the year, making the total disbursements in 1910 40%,
against 25% in 1909 and 22J^% in 1908.

R utland R R . — M in oritij Shareholders’ C om m ittee. — The
following men, long stockholders of the company, have
organized as a committee and request deposits of pref. and
common stock certificates with the Columbia Trust Co., E xtra D ividends on Comm on Stock in A ddition to Regular 10% per A n n u m .
1905
1906
1907
1908
1909 -------------------1910-------------------------New York City, not later than Nov. 30:
T om pkins C. D elavan, Jo h n F . C alder, R alph L . Shatnw ald a n d George
N . Tow le, w ith Sam uel U ntcrm ycr as Counsel; W m . C. T ay lor, Sec., 37
W all S tree t, New Y ork C ity.
,
. .
.. ..
T he com m ittee sta te s th a t “ a fte r m an y m o nth s of p a tie n t Investigation
Into the p ast h isto ry an d affairs of the c o m p an y ,” th e y arc “a b o u t to
prosecute su its for the benefit of all depositing stockholders ag ain st certain
of the form er directo rs to recover m oneys claim ed to have been lost or
w asted a n d unlaw ful profits claim ed to have been received In connection
w ith sales of railroad properties to the c om pany” ; an d will "also endeavor
to enforce from the New Y ork C entral R R . Co. proper recognition of yo ur
rig h ts In the traffic arrangem en ts betw een the tw o com panies a n d in th e
distrib u tio n of the earnings of your com p an y .” — V. 91, p. 1096.

Due

D ec. Total. Total.
10% 1 2 H % 15%
— V. 91, p. 1027.

Total. Total. M ch.
22 M % 25% 7 H %

June.
7M %

Sep t.
7 'A%

D ec.
7

Berwind-White Coal Mining Co.— G u aran ty of B on d s .—
See New River & Pocahontas Consolidated Coal Co. below.
Canadian Light & Power Co.— Control o f M on treal Street
R y . A cqu ired in C om p a n y’s Interest. — See that company
under “ Railroads” above.— V. 91, p. 655, 591.

Cities Service Co., New York.— Stock O ffered. — This com­
Second A venue R R ., N ew Y ork.— B onds
N ov. 1.— The
$1,280,000 general mortgage 5% bonds due Nov. 1 are pany, organized to CQntrol gas and electric properties in
being paid on presentation at the Guaranty Trust Co. of various cities of the United States, has offered, through its
bankers, Henry L. Doherty & Co., 60 Wall St., New York,
New York. See V. 91, p. 916.
Southern Indiana R y . — S a le. — N ew N am e — The road was $1,000,000 of 6% cumulative pref. stock at par, with a bonus
sold at Terre Haute on Nov. 3 for $1,263,333 to the reorgan­ of $350,000 of common stock. Both the pref. and common,
ization committee. The Chicago Southern Ry. was to be it is stated, will pay quarterly dividends from Oct. 1 of, re­
sold yesterday. The new company to be formed to take spectively, 6 and 3% , yielding the subscriber over 7% on
over the properties (per plan V. 91 p. 333, 337) is to becalled his allotment. The Cities Service Co. is the $50,000,000
holding company which has recently acquired the Denver
the Chicago & Southeastern R R .— V. 91, p. 871, 1162.
Gas & Electric Co., the Spokane Gas & Fuel Co. and the
Third A venue R R ., N ew Y ork. — E arn in gs of S yste m .—
Empire District Electric Co.
It is expected that other
Year ending — Gross Earnings— ------ Net Income------ -Dediic’nsAOlO- Bal­
1909.
1910.
Int. Rents. ance.
large gas and electric properties now controlled by prominent
1910.
1909.
June 30—
$
$
S
$
S
8
S
.3,369.922 2,969,640 1,380.866 1,111,451 403,169 3,535 974,162 interests associated with Doherty & Co. in the Cities Ser­
D .D .E.B.& B.. 619,464 628,014 142,810 222,106 47,500 57,819 37,491 vice Co. will be absorbed. See advertisement on another
42d St. Man.
! 1,388,022 1,235,396 483,226 485,730 77,000 57,418 348,808 page and further particulars in V. 91, p. 656.

80.151 14,993 13,411
South. B oul... 101.748 1,921,359
580,580 454,069
.2,090,921
J. 491,627 388,497 55,171 def.22,610
.8,061,704 7,223.057 2,657,646 2,264,157
* Includes Klngsbrldge R y.—V. 91, p. 1162, 1096.




H enry L . D oh erty, th e leading sp irit In th is m erger, w as associated w ith
18,822
def.3 829
100,476 71,761 408,343 E m erson M cMIllln in the form ation of th e A m erican L ight & T ra c tio n Co.,
29,500 4,936 20,735 of w hich he w as G eneral M anager, a n d la te r he organized the A m erican
G as & E lectric C o., w ith th e G eneral E lectric Interests. H e is th e con tro l­
876,467 195,469 1,785,710 ling sp irit In a score or m ore of profitable public send ee co rpo ration s.—
V. 91, p. 873, 656.
\

1256

TH E CH RONICLE

Cincinnati (0 .) Abattoir Co., Pork and Beef Packers.—
bond department of the FifthThird Nat. Bank, Cincinnati, is offering at $105 a share, to
yield 6 2-3% , $150,000 7% cumulative 2d pref. stock; divi­
dends Q.-J. Non-taxable in Ohio.

2d P ref. Stock O ffered. — The

A b s tr a c t o f L etter from P res. M ichael R y a n , C in cin n a ti, O ., O ct. 1 1910.

lVO L. L X X X X I

T he d eb en tu res will be offered for sale to shareholders a t p ar a n d accrued
in terest from Dec. 15 1910, and each holder of the stock will be en titled to
subscribe for an am o u n t of d eb en tu res which shall bo equal to 12)4% of
th e p a r value of th e nu m b er of shares of stock held by him . T he d eb en tures
will be In den om in ations of $100, $500 and $1,000. No fractional deb en­
tu res or scrip will be Issued, bu t subscription s will be received from each
stockholder for th a t a m o u n t of d eb en tu res,d iv isib le into 5100 un its, nearest
to th e fractional a m o u n t to w hich he m ay be entitled to subscribe. Such
d eb en tu res as m ay n o t be subscribed for by th e sh areholders will be pu r­
chased a t p a r by variou s In stitu tio n s a n d Individuals, who hav e un d er­
w ritten th e en tire Issue a t par w ithout a n y com m ission, disco un t or fee.
A sta te m e n t of th e llnancial condition of th e com pany as of S ep t. 30
1910 Is enclosed herew ith (see “ A nnual R e p o rts"). Since Dec. 31 1909
th e notes a n d acco unts receivable hav e Increased a p p ro x im ately $890,000.
T his Is m ainly du e to a change th a t th e com pany has req uired Its com ­
m ission m erch ants to m ake in th e m an ner of acco untin g a n d rem ittin g
to th e com pany for m atches sold for Its acco unt, and has been ad o pted
w ith a view of conform ing closely to th e sp irit, as well as the le tter, of the
saw . A greater am o u n t of m oney has, therefore, been req uired th a n heret fore for th e cpn duct of business, a n d has been provided largely from
su rplus earnings? th u s leaving no funds av ailable for th e red uction of
Indebtedness. T he com pany 's liabilities, rep resented by obligations to
B ry a n t & M ay, L td ., notes and acco unts pay ab le, coupon notes, accrued
Interest an d taxes, and pay-rolls, w ere 54,35/.01 6 as of S ep t. 30 1910, as
com pared w ith $4,354,622 as of Dee. 31 1009.
T he proceeds arising from th e sale of th e proposed Issue of deb en tures
will be used for the p ay m en t of notes held by banks and for th e retirem en t
of coupon notes. If an d as deem ed adv isable. W ith these obligations pro­
vided for, th e Indebtedness w hich th e com pany will be required to m eet
each year un til Dec. 15 1915 o u t of earnin gs and c u rre n t receipts will be
reduced to ap p ro x im ately $150,000 per an n u m , leaving th e su rp lus avail­
able for strength en ing th e financial position of th e com pany , ad d itio n s and
Im provem ents to plan ts, &c.. Increased w orking c ap ital and for tho pay­
m en t of dividends. T he com pany will, beginning Dec. 15 1915, set aside
a fund for th e redem ption of such d eb en tures as m ay n o t h av e been con­
verted on or before th a t d ate.
E arn in g s for th e nine m o nth s ending S e p t. 30 1910, Including profits
from th e C alfornla lum ber op eration , an d from all sources, w ere $1,186,376,
as com pared w ith $1,200,852 for th e corresponding period of 1909.— V.
91, p. 947, 287.

T h e com pany has lately au th orized th e Increasing of th e cap ital sto ck
from $500,000 to $1,000,000. I t Is deem ed necessary to sell only $200,000
2d pref. sto ck a n d $100,000 com m on stock a t presen t. T he $300,000 so
derived will be used for w orking c ap ital. T he 2d pref. sto ck Is callable a t
a n y div idend period a t 110 a n d accrued dividends. P a r valu e $100. Cen­
tra l T ru st & Safe D eposit Co., reg istrar.
C apitalization (‘ S upplied by E d.)
A uthorized.
Issued.
*D ividends. *Par.
f ir s t preferred s to c k -..................$200,000
$200,000
7% Q .-J.
$100
Second preferred sto c k ............... 300,000
200,000
7% Q .-J.
100
Com m on sto c k _______________ 500,000
400,000
6%M. &N.
100
No bonded or m ortgage d e b t, a n d none can be c reated w ith o u t con sent
of 75% of th e pref. sto ck . Q uick assets A ug. 31 1910, $508,153: tan g ib le
p ro p erty , n o t Including quick assets, Is ap p raised a t $1,052,000. N et sur
plus Is now 8490,000. A verage n et earnings for th e p a st live years 16%
pet year upon th e cap ital stock o u tsta n d in g . D ividends upon th e com m on
stock for th e p a st 12 years w ith o u t In terru p tio n 6% per an n u m .
Inco rp . 17 years ago [In Ohio). P ro p e rty Is situ ate d a t th e stock yards
and has m ore th a n 1,500 ft. of p riv a te railroad; p la n t covers a b o u t five
acres, w ith 575 ft. fro ntage on bo th S pring G rove A ve. a n d B. & O. S. W .
R R . H as a large branch house a t 529 to 5.31 W est S t., N. Y. C ity, w ith
cold-storage facilities, sales room s a n d E astern office; also branch house a t
F t. G reen P lace, B rooklyn. H as Ju st com pleted In C in cin n a ti,a t cost of
over $200,000, a new w arehouse a n d w holesale beef sales d e p artm e n t: 150 ft.
on S pring G rove A ve. by 100 ft. In d e p th . In all 75,000 sq uare ft. of floor
space, all concrete a n d steel In co n stru ction; refrig erating m achines ru n by
gas a n d electric m otors; c ap acity 100 ton s of refrigeration dally. T he m an­
agers believe th a t w ith these Im prov em ents th e business can be doubled.
To th e car line (a m o st v alu ab le asset) has been add ed , 75 new refrig erator
cars, in order to sh ip o u r fresh beef to th e E ast; th e m ileage earned pays
th e Initial cost of sam e In a few years.
Sales /o r F iscal Years (*1909-10 has 2 m o nth s estim ated ).
1904-05. 1905-06. 1906-07.
1907-08. 1908-09.
*1909-10.
Dominion Steel Corporation.— S ale of N otes.— The com ­
$3,818,224 $3,838,291 $4,281,313 $4,517,398 $4,705,894 $6,100,000 pany has sold to the Dominion Securities Corporation $1,­
D irectors: M ichael H yan, P res.; H erm an L oew ensteln, V .-P .; Charles It.
H u b b a rd , Sec.; ltlc h a rd R y an , T rcas.; II. II. S heafcr, A sst. Sec. and T reas.; 500,000 5-year notes, which it is the intention of the company
C harles F . W illiam s, A tto rn e y ; Jo seph P flestcr, C harles K uh n, T alto n E m ­ to liquidate out of earnings.
bry, D . II. L oew ensteln
I t Is rep orted unofficially th a t tho proceeds will be used to provide
Consolidation Coal Co., Baltimore, Md.— P urchase — tem p orarily th e funds needed for th e $4 cash dividends paid on th e com m on
stocks
of th e D om inion Coal Co. and the D om inion iro n & Steel Co. in
This company has contracted to purchase 100,000 acres of acco rd an
ce w ith th e plan of am algam atio n (V. 90, p. 1173).
coal lands in the Elkhorn field of Kentucky, the purchase
Press advices rep ort the follow ing record o u tp u t for O ctober (In tons):
price being paid by a further issue of Consolidation company Pig Iron, 22,058; steel Ingots, 27,034; bloom s, 26,113; rails, 15,375; w ire
stock, probably between $3,500,000 and $5,000,000. De­ rods, 4,743; coal o u tp u t of D om inion Coal Co., 329,000 to n s.— V. 91, p. 97.
velopment work upon this property will be financed by bonds,
and a comprehensive plan has been adopted for this and for
the future financial needs of the company. This plan in­
cludes calling the $3,000,000 Consolidation Coal Company’s
(Kentucky division) first mortgage 5% bonds, the Somerset
Coal Co. first mortgage 5% bonds and other minor issues,
making the new bonds a first lien on about 180,000 acres of
land and a second lien upon all of the other properties of the
Consolidation company. A new 5% 40-year bond issue
($40,000,000 authorized amount) is to be created, of which
$9,000,000 are to be sold forthwith. A public offering is to be
made later at about 97 Yz by a syndicate under the manage­
ment of Spencer Trask & Co., Kissell, Kinnicutt & Co. and
William Salomon & Co., and it is understood that Kuhn,
Loeb & Co. and the National City Bank also participate
largely in the underwriting.

Eastern Kentucky Coal Lands Corporation.— Litigation . —
Arguments were concluded thisweek before tho United Stales
Supreme Court at Washington in the suit involving title
to a large amount of land, reported as about 500,000 acres,
originally included in the so-called “ blanket” grants under
which ownership is claimed by this company.

T he N orthern Coal & Coke Co., on th e o th e r h an d, claim s title to the
land s as ag ain st the E astern Coal L ands C orporation, by v irtu e of sales to it
by those assertin g ow nership throu gh alleged occup atio n, b u t term ed
" sq u a tte rs" by the grantees or the successors of th e gran tees under the
" b la n k e t” g ra n ts. T he N orthern Coal 6; Coke Co., of w inch C. W . W atson
Is P resident, has, it Is sta te d , sold Its holdings to the C onsolidation Coal Co.
Sec th a t com pany ab o v e.— V. 82, p. 631.

Edison Storage Battery Co., Orange, N. J.— N ew S to ck .—
The authorized capital stock was recently increased from
$1,998,200 to $3,500,000. Of the now stock, $1,998,200,
we are informed, was issued for cash and the remainder, viz.,
$501,800, remains in the treasury subject to the action of the
I t Is sta te d th a t th e new p ro p erty contains one of the linest undeveloped stockholders.— V. 91, p. 1163.
coal fields in the U nited S ta te s, w ith a n especially high-grade of coking
Franklin (Pa.) Natural Gas Co.— S a le .— S ee National Fuel
coal. T his will be of g re at a d v an tag e to the C onsolidation com pany,
th ro u g h su nnlem en tlng Its extensive op eration s In various o th er bitu m in ous Gas Co. below.
fields, and should m aterially Increase th e earnings of th e com pany . T he
Gainesville (Tex.) Water Co.— S o ld .— The property was
sale of bonds. It Is un derstoo d, Is conditional upon ex am in atio n of th e
prop erties, titles, &c.— V. 90, p. 1298.
sold for $75,000 at Gainesville, Tex., on Oct. 26 by the
Consumers’ Gas Co. of Toronto.— R ep o rt. — For year:
Farmers’ Loan & Trust Co., as trustee under the mortgage
Year end. Total
N et
Other In t.. ReD ies.
Balance,
dated Jan. 1 1884, securing $100,000 bonds.,by virtue of the
Sept. SO. Incom e.
Incom e. Incom e. newals,& c. (10% ). S u r. or her. power of sale contained therein, to E. S. Carr, representing
1909-10-$2,070,961 $754,761 $3,712 $329,827 $373,165 s u r.$55, 181
1908-09. 1,737,765 604,084
3,290 320,111 342,167 def.54,904 the committee of bondholders, acting for a very great
— V. 90, p. 1487.
majority of the bonds.— V. 91, p. 719.
Cramp Shipbuilding Co., Philadelphia.— O ption E x p ire s. —
(B. F.) Goodrich (Rubber) Go., Akron, O.— Stock D ivid en d
Charles K. Beekman of the law firm of Philbin, Beekman, — N ew Stock O ffered. —The directors have declared a stock
Menken & Griscom, New York, sent on Nov. I a circular dividend of 20% on the $10,000,000 outstanding stock,
letter to stockholders stating that circumstances have arisen payable Nov. 14 in new 7% cumulative pref. stock. Stock­
which will make it impossible for his clients to take up the
holders of record Nov. 14 are also offered the right to sub­
option secured on the stock.— V. 91, p. 947, 874.
scribe for $2,000,000 of the preferred stock at par, subscrip­
Crex Carpet Co.— D ivid en d Increased. — A semi-annual tion rights to expire Dec, 15. This will make the outstand­
dividend (Noi 5) of 3% has been declared on the $3,000,000 ing stock 810,000,000 common and $4,000,000 preferred.
stock for the G months ending Nov. 30 1910, payable Dec. 15
E ach stockholder m ay subscribe for th e new sto ck to the e x te n t of 20%
to holders of record Nov. 30, comparing with 2j^ % in June of his holdings an d for such ad d itio n al new sto ck o lie red as m ay n o t be
taken
by present holders. C ertliicates of new sto ck rep resentin g the d iv i­
last, 2% and )^% extra on Dec. 15 and June 15 1909 and dend are
deliverable on and a fte r N ov. 15 a t the c o m p an y ’s office in A kron,
2% (dividend No. 1) on Dec. 15 1908.— V. 90, p. 1242.
O hio, or the Hankers* T ru st Co., New Y ork, on su rren d er of th e old certlllcates,
in
for w hich new com m on sto ck coriiiicatcs will be Issued.
Crucible Steel Co.— N ew O fficers. — John A. Sutton and T he directo exchange
rs inten d w hen a d d itio n al preferred sto ck Is oilered to declare
H. D. W. English have been elected to the exec, committee. a dividend on the com m on stock equal to the a m o u n t oilered for su bscrip­

tion, payable In preferred stock in accordance w ith th e vote of the sto ck­
T he o th er m em bers of tho com pany a re H erb ert Du P u y (C hairm an), holders
on Aug. 24 last au th orizin g the issue of $10,000,000 preferred stock.
O. C. R am sey (P resid en t), Jam es II. P ark a n d G»orge E. S h aw .— V. 91, —
V. 91, p. 592, 279.
p. 1097, 1023.
Diamond Match Co., Chicago.— $2,000,000 Convertible D e­
stockholders will
vote Dec. 5 on increasing the authorized capital stock from
$16,000,000 to $18,000,000, the new shares to be held by
the company to provide for the conversion of the $2,000,000
6% debentures, to be issued as hereinafter stated. Secretary
H. F. Holman in a circular dated Nov. 3 says in substance:

bentures U nderw ritten— Neiv S to ck . — The

T he d eb en tures will bs d ate d Dec. 15 1910, will be pay ab le to bearer a n d
In coupon form , and will bear Interest a t th e ra te of 6% per an n u m , p ay ­
able sem i-annually, a n d u p on su rren d er thereo f, to g e th e r w ith all u n m a­
tu red coupons thereto a ttac h ed , will, a t th e o p tion of th e hoidcr, be con­
v ertible, on or a t a n y tim e before Dec. 15 1915, a t p ar Into sto ck a t p ar.
T hey will con tain a provision th a t no m o rtg age shall be placed upon th e
real p ro p e rty untlL all of th o d eb en tures shall hav e been paid , except, how ­
ever, th a t In rospcct to thoC allfornla tim b e r lands a n d p la n ts th e com pany
m ay. If It sd desires, place a m ortgage thereo n In an a m o u n t n o t exceeding
Its Indebtedness to B ry a n t & M ay, L td ., now am o u n tin g to $1,378,556,
a n d Interest a t 5 % -from Ju ly I 1910, in order th ereb y to acq u ire th e title
to th e undivided ono-half Interest In said California tim b er lands a n d
p lan ts now v ested of record In B ry a n t & M ay. L td ., a n d held by them as
security for th e p ay m en t of th e said Indebtedness.
T he d eb en tu res will be so draw n as to req uire th e retirem en t on D ec 15
1915 of ono-slxth of th e d eb en tu res th en o u tsta n d in g a n d of a like am o u n t
on each D ee. 1.5 thereafter, un til th e m a tu rity of all th e d eb en tures. All
or a n y p a rt of th e d eb en tu res will be redeem able a t th e op tion of th e com ­
pan y on D ec 15 1915, a n d a n y Interest d a te th e rea fter, a t 102 and in t



Inter-State Independent Telephone & Telegraph Co. (of
N. J.), Aurora, Joliet, &c., 111.— D efau lt— R eceiversh ip.— In­
terest due Oct. 1 remains unpaid on the 1st M. 5s of 1902, due
1927; amount outstanding some $2,200,000.
Judge C. C. Kohlsaat in the U. S. Circuit Court at Chicago
on Oct. 28 appointed Fred. A. Dolph of Aurora and W m.C.
Niblack, Vice-President of the Chicago Title & Trust Co.,
receivers for the company on petition of bondholders and
minority stockholders,

It Is a sse rte d .th a t the deb ts exceed assets by $1,000,000, and th e stoekUolders allege th a t form er P resident E vans disbursed $40,000 w ith o u t a u ­
th o rity . T he tangible assets are said to bo w orth $1,500,000.— V . 91, p.875.

Iron Steamboat Co.,fNew York.— N ew D irectors.- —F. A.
Bishop and C.jjM.vEnglis of Brooklyn and F. H- Cone of
New York havejbeen elected to the board,.— Vi 89, p. 1343.
La Belle Iron W orks.—B onds C alled.— $100,000 bonds
have been drawn for payment at par and interest oil Dec, 1
at the Dollar Savings Trust Co., trustee, Whcelmg, W. Va.
— V. .91, p. 720.
• " ; " _________
.
F or o th e r In v e stm e n t N ew s sec p a g e s 1264

an d

2

I fl&r;,1-S

■

'

Nov. 5 1910.

THE CHRONICLE

1251

Ijtqmds and Jpacmmcuts.
ST. LOUIS & SAN FRANCISCO RAILROAD COMPANY.
FOURTEENTH ANNUAL REPORT— FO ll THE FISCAL YE A R ENDED JUNE 30 1910.

To the Stockholders:
The Directors herewith submit their report of the opera­
tions and affairs of the St. Louis & San Francisco Railroad
Company's Lines (exclusive of the Chicago & Eastern Illinois
Railroad) for the fiscal year ended June 30 1910.
The results of operations for the fiscal year were as follows:

EQUIPMENT.
The following equipment was purchased during the fiseal
year:

1. trader Trust Agreements:
250 Oil T an k Cars
9 Steel C om blna’n B aggage & Mall
1,000 Steel Coal Car3
22 Steel Coaches
500 Steel H op per Cars
20
T ype L ocom otives
250 Steel U nderfram e F la t Cars 30 CPacific
onsolidation L ocom otives
O peratin g revonuo (Increase $3,408,053 33,
150 Steel U nd erfram e Cabooses
3 B row n H olsts
or 9 % )_________„ __________________________ $41,105,030 37
7
Steel
Baggage
3 S team W recking C ranes
O peratin g expenses (Increase $3,916,751 04,
6 Steel C hair Cars
or 1 5 .8 % ) ..- _______ _______________________ 28.070,842 19
0 Steel D ining Cars
2. Purchased tor Cash:
10
Steel
C
om
blna’n
Coach
&
B
aggage
100 Com m ercial Ice Cars
N et o p eratin g revenue (decrease $507,797 71, or 3 .9 % )— $12,489,097 18 6 Steel C om blna’n Coach & Mall
T a x e s ______ - ............................. .......................... ............................. ............ 1,458,185 90
All of this additional equipment was received at June 36
$11,030,911 22
M iscellaneous Incom e------------------------------------------------------------ 2,300,428 72 1910 with the exception of six Combination Passenger and
Mail cars, five Combination Coach and Cafe cars and six
T o ta l I n c o m e ....................
$13,331,339 94 Dining cars.
In te re st, ren tals a n d o th e r fixed charg es— ..............
12,209,380 77
t
CONSTRUCTION.
N et Incom e a fte r providing for all ch arg es..............
$1,121,959 17
During the fiscal year a branch was built between Marion
D ividends p a id — 4% on llrst preferred s to c k .....................
199,742 12
Surplus carried to profit a n d loss.............................
$922,217 05 and Hulbert, Ark., connecting the tracks of the Frisco with

The mileage and results of operation of the Orange & North­
western Railroad and the Beaumont Sour Lake & Western
Railway, which were included in the printed report for 1909,
have been eliminated therefrom in the foregoing comparison,
and also in all other comparative statements in this report.
The two roads referred to were, during the past year, operated
as separate properties and form parts of the* New Orleans
Texas & Mexico Railroad Lines. See page 76 (of the pamph­
let report), showing the mileage of roads comprising the lines
of the New Orleans Texas & Mexico Railroad.
The slight decrease, 8S-100 of a mile, in the average mile­
age operated is caused by a re-measurement.
On pages 74, 75 and 76 (of pamphlet report) will be found
details of the mileage of all the Lines operated, owned or
-controlled by this Company.
CAPITAL STOCK.
There was no change during the fiscal year in the Capital
Stock issued or outstanding.
FUNDED DEBT AND EQUIPMENT BONDS AND
NOTES.

T he o u tsta n d in g fund ed d e b t a t Ju n e 30
1910 w as......................
$221,900,174 11
T he o u tsta n d in g equ ipm en t tru st bonds and
notes w ere............................................................. 15,700,521 79
T o t a l.. _______ ________ ________ _________ _______________ $237,000,095 90
T he o u tsta n d in g funded
d e b t a t Ju n e 30 1909 w as $199,339,019 30
Less th a t of B . S . L . & W .
a n d O . & N . W . R R a ...
728,500 59
T otal ................................
$198,011,052 71
T h e o u tsta n d in g equ ipm en t tru st bonds
a n d notes w ere— ............................................... 15,033,551 99
T o t a l .. -------------------- -------------- ......................- ................................ 213,044,004 70
T he n e t Increase w a s ............................................................. .’.................S24.022.091 20
The balance of the Fort Smith & Van Buren Bridge Com­
pany First Mortgage 6% bonds were redeemed and canceled
during the year and the mortgage was released of record.
In May 1910 $1,644,000 of the Five-Year 5% Cold Notes
of 1911 were redeemed and canceled, and at the same time
funds were deposited with the Trustee to redeem on July 1
1910 the balance of that issue, amounting to $5,856,000.
Funds were also deposited with the Mercantile Trust Com­
pany of New York for the payment at maturity (Sept. 1 1910)
of $492,000 of Memphis Kansas & Colorado Railway Com­
pany First Mortgage 7% bonds.
The new issue of this company's New Orleans Texas &
Mexico Division First Mortgage Thirty-Year Gold Bonds,
dated March 1 If) 10, is secured by a first mortgage dated
May 17 1910, on the property of the New Orleans Texas &
Mexico Railroad Company, the latter Company assuming the
payment of both principal and interest of the bonds.
The New Orleans Texas & Mexico Railroad Company is
operated separately,and extends from New Orleans, La., to
Brownsville, Texas, on the Mexican border, owning a half in­
terest in the bridge across the Rio Grande River to Matnmoras, where connection is made with the National Railways
of Mexico. A profitable interchange of traffic with the Mexi­
can lines should result, beginning with the opening of this
new International line in September of this year. Your
Company owns all of the capital stock, except Directors’
shares, of the New Orleans Texas & Mexico Railroad Co.
On pages 19 and 20 (of pamphlet report) will be found state­
ments showing in detail the amount of new bond and note
issues, as well as the amount of bonds and equipment obliga­
tions redeemed or exchanged during the year, and on page 28
is given the details of securities remaining in the treasury
as a current asset.



the Chicago Rock Island & Pacific Railway at Hulbert, a dis­
tance of 5.49 miles. This cut-off shortens the distance for
through traffic between the two Lines, and materially fa­
cilitates transfer of freight between the terminal yards of
these lines, relieving the terminal situation in Memphis
proper, which is often congested.
Extensive yards were built at Marion to provide for such
interchange.
GENERAL.
Much has been said of late respecting the obvious necessity
of greater compensation for the railroads per unit of service
rendered. In this connection it has been frequently stated
that within the past few years rates have already been raised,
and that the actual rate basis is now higher than in the recent
past. Figures refute this so far as “ Frisco” is concerned.
On our 1910 ton miles, if we had received the rates of 1907,
our freight revenues would have been larger by $933,729 32;
at the rates of ten years ago, 1900, we would have had $2,­
291,881 06 more freight earnings. Our passenger rate per
mile in 1907 applied to our 1910 passenger miles would have
yielded us a further increase of $1,669,811 82. If the rail­
roads are to serve the public adequately, net revenues must
bo preserved or increased by means of better rates and not
by poorer maintenance; the public cannot afford the latter
method.
Your company’s property is receiving a substantial im­
provement in value by reason of the number of treated ties
(creosote treatment) which are being put into the track, at
an increased expense, borne by maintenance charges. This
work was begun late in 1907; as of date June 30 1910 more
than three million creosoted ties had been used, at an addi­
tional cost for treatment and handling of more than one mil­
lion dollars. The life of these treated ties is estimated at
fifteen years, or more, or approximately two and one-half
times the average life of the untreated ties; the benefit to the
property in reduction of maintenance charges on this account
will not be noticeable for several years.
At the close of the fiscal year new automatic electric block
signals had been installed and w'ere in use on 325 miles of
road, a nd work of that character is being actively pushed upon
404 miles more, a good part of which will be in service before
winter comes.
A strike of coal miners on April 1 1910 closed practically
every coal mine in the States of Missouri, Kansas, Arkansas
and Oklahoma, causing serious losses in many wrays— the loss
of gross and net earnings on commercial coal, decrease in
tons handled per freight train and consequent increase in
cost per ton handled, temporary increase in cost price of our
engine fuel, and, most expensive of all, the enforced additional
cost of hauling company coal from Indiana, Kentucky and
Alabama to Oklahoma, Kansas and Texas. At the close
of the fiscal year the mines had not. resumed operation. The
cost to your lines in actual net earnings for the period April 1
to June 30 was probably not less than one million dollars.
This, in addition to the difficult operation in consequence of
an unusually long and severe winter, together with increases
in wages— necessary and unavoidable— has given your oper­
ating officials little opportunity to show efficiency in the
matter of transportation costs.
By an agreement with the Houston & Texas Central Rail­
road Company and other Southern Pacific lines, close ar­
rangements have been made effective for the transportation
of freight and passengers via Dallas, Sherman and Fort
Worth, and via Houston, Tex. This understanding largely
serves our purpose as a connecting line between our prop­
erties north of the Red River and those in Southern Texas,
and obviates the necessity of expensive construction through
a territory already well occupied by north and south railroad
lines.

1258

THE CHRONICLE

The statement of industries located on the Company's
tracks during the year as reported by the Company's Indus­
trial Department shows the usual satisfactory increase.
Thr hundred and twenty new industries, costing approxi­
mate y $5,727,000, and employing 8,400 men, were estab­
lished during the year.
The usual statements showing the Condensed Balance
Sheet, Income and Profit and Loss Accounts, and Statistical
Statements, each including the figures of the Chicago &
Eastern Illinois Railroad Company, will be found on pages
44 to 70 (pamphlet report.)
The Inter-State Commerce Commission has prescribed and
issued a form of General Balance Sheet Statement for steam
railroads, and made same effective June 15 1910. That
form has been followed in stating the Condensed Balance
Sheet, including the figures of the Chicago & Eastern Illinois
Railroad Company, but the comparative balance sheet of the
Company is stated as heretofore in order to made an intelli­
gent comparison with the preceding year.
Cheerful acknowledgement is hereby made of the faithful
and efficient service rendered by officers and employees
during the year.
By order of the Board of Directors.
B. L. WINCIIELL,
_____ _____
P residen t.
October 1 1910.
ST. LOUIS & SAN FRANCISCO RAILROAD LINES.

IN C O M E A C C O U N T— FIS C A L Y E A R E N D E D JU N E 30 1010, COM­
P A R E D W IT H P R E V IO U S Y E A R .
Inc. ( + ) or Dec. (— ).
1009-10.
* 1908-00.
A m o u n t.
%
A verage m ileage op„
„
00
c r a te d ___________
5,071.70
5,072.67
.88 ------^ F r e l g h t ^ - -$27, 645, 863 48 $25,262,515 03 + $2 ,383 ,347 55 9.4
9.8
P asseng er
- 10,548,960 83 0,603,340 26
+ 94 5,02 9 57 0.9
M all
* ____ 1,009,241 56
999,935 45
+ 9 ,3 0 6 11
E x p rc ssI___I ____ 1,134,004 37
1,129.201 66
+ 5 ,7 0 2 71 0.5
M isc e lla n e o u s___
550,811 88
527,951 03
+ 2 2 ,8 6 0 85 4.3
T o ta l tran sp o r­
ta tio n r e v ...$ 4 0 ,8 8 9 ,7 9 1 12 $37,522,044 33 + $3 ,366 ,846 70 9.0
R evenue from op­
eratio n s o th e r
th a n tra n sp o rta ­
tio n .......................
276,148 25
234,041 71
+ 4 2 ,1 0 6 54 18.0
T o ta l o p eratin g
rev en u e ...........$41,165,959 37 $37,756,086 04 + $3 ,408 ,953 33
Operating expenses—
M aln ten’ce of w ay
and stru c tu re s. $5,778,268 15 $4,087,632 77 + $7 90 ,6 35 38 15.9
M aintenance ol
98 29.2
e q u ip m e n t____ 5,940,310 37 4,596,862 39 + +1,343,447
163,529 13 18.7
873,292 10
T raffic e x p e n se s.. 1,036,821 23
T ra n sp o rta tio n ex­
20 12.2
penses _________ 14,698,094 38 13,103,878 18 + 1,594,216
+ 24,922 35 2.1
G eneral exp en ses. 1,223.348 06 1,198,425 71
T otal
opseerating
e x p en
s____$28,676,842 19 $24,760,091 15 + $3 ,916 ,751 04 15.8
N et operating rerercue$12,489,097 18 $12,996,894 89 — $507,797 71 3 0
— 73,062 64 4.8
T a x e s - .. . ..................... 1,458,185 96 1,532,148 60
O peratin g Incom e $11,030,911 22 $11,464,746 29 — $433,835 07 3.8
M iscellaneous Income—
H ire of cq u Ip m cn tD r $609,988 27 D r$260,086 63 — $349.901 64 134.5
O th er Incom e____ 2,910,416 99 1,715,112 20 + $ 1 ,1 9 5 ,3 0 4 79 69.7
T o ta l m iscellaneous
I n c o m e _________ $2,300,428 72 $l,4.>5,02o 57 + $845,403 15 58.1
T o ta l Incom e_$ 13,331,339
94 $12,019,771 86 + $4 11 ,5 68 08 3.2
Interest .............................$7,417,805 63 $6,517,310 38 + $930,486 25 14.3
Rentals arid S in k in g
F u n d s—
Interest on guaran­
+ 2,759 79 0.1
teed securities. . 2,594,390 91 2,591,631 12
Other rentals and
-$34,260 65 5 2
661,562 88
sin kin g fu n d s .627,302 23
D ividends on trust
certjs.. The K ansas
C ity F t. Scott &
540,400 00
M em phis Railuiau.
540,400 00
D ividends on trust
certjs., Chicago &
— 95,000 00 8.7
E astern Illinois R R . 099,482 00 1,004,482 00
T o ta l charg es____$12,209,380 77 $11,405,395 38 + $803,985 39 7.0
A vailable for divi­
d e n d s ................... $1,121,059 17 $1,514,376 48 — $392,417 31 25.9
D ividends—
4% on first pre­
$199,742 12
ferred sto c k ------ $199,742 12
Su rplu s carried to
credit oj projit and $922,217 05 $1,314,634 36 — $392,417 31 29.8
loss----------------------* W ith B. S. L . A W . a n d O. & N. W . figures om itted .
G E N E R A L P R O F IT A N D LOSS A CCOUNT A N D A D JU S T M E N T S
T H E R E IN , JU N E 30 1009 TO J U N E 30 1910.
Credit—
. _
..
B alance
a
t
cred
it, as per ann ual rep o rt Ju n e JO$4,U14,.3J0 34
1909 ________________________________________
A d ju stm e n t acco u n t om ission of B . S. L . A W .
R y . an d O. A N . W . R R ......................................
185,701 14
T o ta l........................................................................ ..........................................$4,200,111 48
Surplus for th e year ended Ju n e 30 1910---------- ----------------- 922,217 05
T o ta l C red it_________________________________________________$5,122,328 53
D ebit—
,
P ro p o rtio n for tho year of disco un t on securtties so ld ______________________________________- $480,183 79
D epreciation p rior to Ju ly 1 1907 In th e v a u e of
equ ipm en t destroy ed a n d d ism antled during
c u rre n t fiscal y e a r------,- 22 a,9-2 11
S u ndry a d ju stm e n ts n o t affecting c u rre n t year s
.......
In c o m e ...........— — .....................................................
10
T o tal D e b it_________________________________________________ $727,722 30
B alance .
.................................- ...................................... .............. .. 4,394.606 23
•
$5,122,328 53
By B alance a t credit Ju n e 30 1910------------------------------------$4,394,606 23



[VOL. L X X X XI

C O N D E N SE D G E N E R A L B A L A N C E S H E E T JU N E 30.
ASSETS.
Increase ( + ) or
1900.
Decrease (— ).
1910.
C apital A ssets—
$
$
$
F ranchises and p ro p erty ..2 14 ,0 03 ,8 90 94 190,601,738 51 4-23,402,152 43
S tocks a n d bonds o w n e d ..
203,845 69
203,845 09 ______________
T o ta l franchises a n d pro­
p e r t y . . _____ _________ 214,207,736 63 190,805,584 20 + '3 ,4 0 2 ,1 5 2 43
L easehold e sta te (T he K an­
sas C ity F o rt S co tt A
M em phis R y .) __________ 58,642,263 69 55,203,841 1 1 4 3,438,422 58
L easehold e sta te ( K ansas
C ity M em phis A B irm ing­
ham R R .) ....................
0,257,609 78 9,175,875 76
+ 8 1 ,7 3 4 02
F ran chises a n d p ro p e rty ,
au x iliary co m panies____ 4,950,455 90 7,843,934 82 — 2,893,478 92
Chicago & E astern Illinois
R ailroad C om pany pre­
ferred stock (cost o f)____ 9,321,550 00 9,321,550 00 --------------------Chicago A E astern Illinois
R .R . Co. com m on stock
(cost Of)................................. 18,239,187 13 18,239,237 13
— 50 00
T o ta l.........................................314,618,803 13 290,590,023 02 + 2 4 ,028 ,780 11
C urrent A ssets—
+ 262,040 09
1,568,910 29 1,306,870 20
+ 399,466 28
4,198,950 17 3,790,483 89
Cash w ith tru stees for re­
dem ption of called bonds
+ 6,348,000 00
(see c o n tra )____________ 6,348,000 00
D ue from ag en ts an d con­
+ 97,427 20
634,268 59
536,841 33
d u ctors —
D ue from railroad com ­
— 18,334 09
44,044 13
25,710 04
panies, acco u n t tr a f fic ..
D ue from com panies and
+ 704,885 78
Indiv idu als______________ 2,375,852 23 1,670,966 45
672,204 71
61,234 42
4-010,970 29
Bills receivable___________
D ue from U nited S tates
84,335 34
103,208 47
— 18,873 13
P . O. D e p a rtm en t______
Securities In tre a su ry _____ 9,269,958 32 7,024,078 66 + 2,245,879 60
+ 802,290 48
Supplies on h a n d __________ 3,873,795 63 3,071,499 15
A dvances acco u n t con stru c­
934,786 65 5,144,047 82 — 4,209,201 17
tion ____________________
. 29,986,771 97 22,762,274 52 + 7,224,407 45
Dejerred A ccountsO pen carrying acco unts In
+ 153,823 30
593,250 75
process of a d ju stm e n t___1 747,074 05
D iscount on bonds, carriedl
d
i 9,788,690 67 4,849,094 56 + 4,939,506 11
+ 20,405 94
448,370 64
468,776 58
c o u n ts-------— 45,700 77
78,184 07
.
32.483 30
S inking fu n d s.
T o ta l........ ................................ 11,037,024 60 5,968,900 02 + 5 ,0 68,1 24 58
T o tal A sse ts........................355,642,599 70 319.321.197 56 + 36 ,321 ,402 14
• W ith B. S. L . & W . an d O. A N . W . figures o m itted .
N ote.— In sta tin g th e assets aud liabilities of th e com panies covered by
this balance sh eet, th e holdings of th e S t. L ouis & San Francisco R R . Co.
In th e bonds a n d cap ital stocks of leased an d au x iliary lines are elim in ated.
L I A B IL I T I E S .
Inc. ( + ) or
Dec. (— )
1909.
1910.
$
C apital Liabilities—
$
C apital Stock:
_____^
F irst p re fe rre d . _______ 5,000,000 00
5,000,000 00
--Second p referred ________ 16,000,000 00 16,000,000 00
-C om m on................................. 29,000,000 00 29,000,000 00
.....
T o t a l . . . ............................ 5 0 , 0 0 0 , 0 0 0 00 50,000,000 00
--F u n d ed d e b t_____________£165,128,204 11 142,549,332 71 +22,578,871 40
E q u ip m en t bonds a n d notes 14,152,521 79 13,045,551 90 + 1 ,1 0 6 ,9 6 9 80
O u tstan d in g securities on
leasehold e sta te (The
K . C. F . S. A M. R y .):
SPreferred
to ck— c ertlllc a tes. 13,510,000 00 13,510,000 00
--F u n d ed d e b t.................. .1/43,668,300 00 39,891,300 00 +.53,777,000 00
E q u ip m en t bonds and
n o te s...............................
1,548,000 00 1,988,000 00
— 440,000 00
58,726,300 00 55,389,300 00 + 3,337,000 00
O u tstan d in g securities onL
leasehold e sta te (K . C,
M. & B. R R .):
. 9,246,670 00 9,247,420 00
— 750 00
F u nded d e b t, a ux iliary
c o m p a n ie s..........................- . 3,923,000 00 6,923,000 00 — *3,000,000 00
P referred sto ck tru st cer
tlllcates (C. A E . I. R R .) 0,317,550 00 9,317,550 00
Com m on stock tru st cer­
tlllcates (C. A E . I. R R .) 18,044,500 00 18,044,500 00
T o ta l___________________ .328,538,745 00 304,510,654 70 + 24,022,091 20
Current Liabilities—
A udited vouchers a n d p ay ­
+ 449,039 59
ro lls_____________________ . 4,586,767 04 4,137,127 45
In te re st and dlvdends m a­
+ 419,181 07
83
tured __________________ . 3,106,763 00 2,087,582
+ 258,978 67
13,701 05
In te re st accrued (not due 1,602,670 72 1,3420,380
+ 101,188 05
521,568 98 1,713,329 93
T axes accrued (not d u e ).
12 + 4,294,740 88
N otes p a y ab le _____ ______ 6,008,070 00
B onds called for redem p+ 6,348,000 00
6,348,000 00
22.173,840 64 10,302,121 38 + 11,871,728 26
P rovistonal A ccounts—
248,977 31
285,078 08
— 30,100 77
Sinking fu n d sa c c ru e d -----9,745 4 2
+ 269,199 93
E q u ip m en t rcp lacem ’t fund1 278,945 35
Im p ro v em en t fund (K C. _
7,475 27
— 11.23
7,486 50
535,397 93
+ 233,087 93
302.310 00
T o ta l.
.351,247,993 47 315,121,080 08 + 36,126,907 39
. 4,394,606 23 4,200,111 48
+ 194,494 75
.355,642,509 70 319,321,197 50 + 36,321,402 14
• W ith B . S . L . A W . a n d O. A N . W . figures o m itte d .
x E xcludes, In order to avoid d u plication : $10.000,000 N . O . T . A MD ivision bonds pledged as collateral to o th e r liabilities Included In "fu n d ed
d e b t.”
y E xcludes $492,000 M em phis K ansas & C olorado R ailw ay C o. F irst
M ortgage 7% bontls m atu rin g S ep t. 1 1910, funds for red em p tio n o f w hich
w ere held by T ru stee.
2 $3,000,000 of K ansas C ity & M em phis R ailw ay & B ridge Co. bo n d s
tran sferred from "fu n d ed d e b t a ux iliary com panies” to "fu n d ed d e b t
leasehold e sta te (Tho K . C. F . S. A M. lty .) .”
SfX

NOV. 5 1910.!

TH E CH RONICLE

1259

CHICAGO BURLINGTON & QUINCY RAILROAD COMPANY.

FIFTY-SIXTH ANNUAL REPORT—FOR THE YEAR ENDED JUNE 30 1910.
Chicago, July 1 1910. EXPENDITURES FOR NEW LINES AND EXTEN­
To the Stockholders of the Chicago Burlington & Quincy Rail­ SIONS AND EQUIPMENT, AND FOR ADDITIONS
AND BETTERMENTS, DURING THE YEAR.
road Company:

Departing from the practice of previous years, there has
been omitted at the beginning of this report the consolidated
Income Account for all roads operated and controlled. In
lieu thereof separate Income Accounts are given of the Colo­
rado & Southern Lines on page 30 [see “Chronicle” Oct. 29,
page 1186 and of the Q. O. & K. C. RR. on page 31 [see
below at end of this report].
CHICAGO BURLINGTON & QUINCY RAILROAD COM­
PANY, YEARS ENDED JUNE 30.

O P E R A T IN G R E V E N U E S .
1909.
4 8 ....................
F reig h t
R e v e n u e ............$52,240,920 60
83 ____________ Passenger R ev en u e-------------------- 19,585,305 02
66________________ Mall R ev en u e_________________ 2,314,566 25
2 4 ____________
E xpress
R ev en u e____ 2,026,990 25
0 6 M iscellaneous T ra n sp o rta tio n R e v e n u e
1,670,211 92
R evenue from O perations o th er th a n T rans69...................................p o rta tlo n .....................................
682,504 12
2 8 ..............................Jo in F a c ilitie s................................
87 ,1 3 1 2 0
24________ T o ta l O peratin g R ev en u e_________ $78,612,629 36
O P E R A T IN G E X P E N S E S .
$15,725,461 20 ____M ain tenance of W ay a n d S tru c tu re s____ $12,986,773 27
15,057,165 3 9 ------------- M ain tenance of E q u ip m e n t--_______ 13,366,415 08
1,654,451 7 3 ______________ T raffic E xpenses______________ 1,570,360 83
28,340,051 74 --------------- T ra n sp o rta tio n E x p en ses__________ 24,554,729 67
2,233,834 82 --------------------- G eneral E xpen ses______________ 2,076,718 92
$63,010,964 88..................T o tal O peratin g E x pen ses...................$54,560,997 77
$24,858,552 3 6 ..................-N e t O peratin g R e v e n u e -................. $24,051,631 59
158,406 71
164,282 15------ N et D eficit from O utside O peratio n s____
$24,694,270 2 1 ........................ T o tal N et R ev e n u e ..........................$23,893,224 88
2,970,736 78_______________T axes A ccrued_______________ 2,517,017 52
$21,723,533 4 3 ............................O peratin g In c o m e ...........................$21,376,207 36
O T H E R IN C O M E.
$745,786 3 5 ............................. ..........R e n t s - - - - - . - ......................... $653,749 44
290,097 11
1,777,907 4 6 ___________ M iscellaneous In te re st
$2,523,693 81 ____________ T o ta l O ther In co m e.
$943,846 55
$24,247,227 2 4 - . . ..............Gross C o rp orate In c o m e ..................... $22,320,053 91
D E D U C T IO N S FR O M G R O SS C O R P O R A T E IN C O M E .
$1,764,512 9 0 .................................. R e n ts ............. ...........................$1,307,790 05
89,847 53
1,077 95 ........ .............. M iscellaneous In te re s t____________
8,506,015 82 --------In te re st A ccrued on F u nded D e b t_____ 7,875,507 16
666,874 39.............................. S inking F u n d s .- ...........................
675,828 56
$10,938,481 06............................ T o tal D eduction s....................... $9,948,973 30
$13,308,746 18----------------- N et C o rp orate In co m e___________ $12,371,080 61
$8,867,128 00....................................D ividends ..................................... $8,867,128 00
3,329,006 47 ______ A pp ro priatio ns for B e tte rm en ts_______ 2,237,080 86
$12,196,134 47
$11,104,208 86
$1,112,611 71 ......................................B a la n c e ........................................ $1,266,871 75
1910.
$58,224,537
22,380,305
2,330,215
2,216,049
1,803,949
812,440
102,019
$87,869,517

Charges to Capital Account aggregating $5,058,186 93
were made during the fiscal year for additions to the property.
Of this amount $959,822 25 was expended for the line from
Herrin to Metropolis, 111., which is practically completed and
will be opened for traffic before the close of the calendar year.
Extensions are in progress from Kirby, Wyo., to Powder
River, Wyo., upon which $2,091,258 25 has been expended
so far; from Lincoln, Neb., to Milford, Neb., expended to
date, $76,354 95; from Scribner, Mont., to Fromberg,
Mont., expended to date, $35,058 58; and from Hudson,
Colo., to Greeley, Colo., expended to date, $7,409 60.
New second tracks were urgently needed, have been con­
structed in Illinois and Nebraska, and numerous side and
passing tracks have been laid at different points on the
System.
Additional land has been procured just outside the city of
Chicago for needed yard facilities, and land for additional
terminal facilities at Denver has also been purchased.
Large additions have been made to shops at Havelock,
Neb., and improvements have been made in terminal facili­
ties at Lincoln, Neb.
The following statistical tables have been compiled in the
form required for the annual reports of carriers to the Inter­
State Commerce Commission:
CAPITALIZATION.
X umber
of
Shares.
1.108,391

C A P IT A L STO C K .
Total P ar V alue
D ividends Declared D urin g Year.
A uthorized a n d ------------------------------------------------------O utstanding.
Hate.
A m o un t.
$110,839,100 00
8%
$8,867,128 00
FU N D ED D EBT.

Total Par Value.
InTreasury,
Interest
Designation of
in Sinking
Hands of Accrued
Authorized. Outstanding. Funds, or In Public.
Rond—
During
Pledged as
Year.
Collateral.
Mortgage ............ $209,435,000 $190,368,800 $22,638,600 $167,730,200
62
Collateral T rust. 7,968,000 7,310,200 4,406,500 2,903,700 $7,613,700
292,743,98
Plain or Deben16,647,000 12,177,000 2,457,000 9,720,000 599,571 22
T otal................ $234,050,00oj$209,856,000j$29,502,100 $180,353,900 $8,506,015 82



N ew L in es and -A d d itio n s and R etterm entsE xtensions. -------F rom C urrent F u n d s------F rom Cur- Charged to Road Charged to
Total
A ccount—
rent F u n d s. andL q uip tneut. Incom e.
E xpenditure.
I.— Road—
E ngineering . . . $143,890 33
$16,561 70
$30,987 61 $191,439 64
R ig ht of W ay &
S tatlon G rou nd s 332,449 43
720,759 41 ........................... 1,053,208 84
R eal E sta te ____ ____
C r.65,400 93 ______________ C r.65,400 93
G rading ------------ 2,096,161 77
367,253 97
488,764 85 2.952,180 59
T unnels
......................... .........................
82,670 22
82,670
22
Bridges, T restles
and C u lv erts. 305,689 70
654,600 53 1,056,774 69
96,484
46
T ics____________
207,020 40
42,673 10
C r.457 94
164,805 24
R alls __________
663,611 88
43,765 28
405,945 23
213,901 37
Frogs & Sw itches
6,078 37
71,441 00
42,458 75
22,903
88
T rack Fastenings
and o th e r M a­
te ria l_________
34,672 31
486,357 87
382,925 54
68,760 02
B a lla s t_________
15,775 46
127,463 54
95,557 61
16,130 47
T rack L aying &
S u rfac in g ____
37,036 32
248,932 68
94,095 06
117,801 30
12 68
R o ad w ay T ools.
85 56
72 88
Fencing R ig ht of
W a y ------------7,944 21
24,045 95
17 54
16,084 20
Crossings and
Signs_________
8,709 42
155,019 61
3,202 03
143,108 16
Interlocking and
o th e r Signal
A p p a ra tu s ___
167,816 71
84,491 73
83,202 40
T elegraph a n d
T elephone Lines
5,901 52
1,035 98
128,643 74
121,706 24
S tation B uildings
a n d F ix tu re s.
79,396 91
1,308 34
196,390 56
115,685 31
Shops, E ngine
H ouses a n d
3,618 45
372,428 66
271,074 37
647,121 48
T urn T a b le s ..
Shop M achinery
61,728 12
12,326 38
49,401 74
and T ools____
81,955 51
101,475 93
598 90 C r.20,119 32
W ater S ta tlo n s.
38,759 32
30,669 21
8,085 49
4 62
Fuel S ta tio n s___
1,352 59
1,244 47
108 12
G rain E lcv ato rs.
Storagc W are­
70 07
houses_______
70 07
D ock a n d W harf
7,098 51
P ro p e rty _____
7,098 51
E lectric L ight
P la n ts________
25 88
25 88
Gas P roducing
P la n ts_______
3 80
3 80
MIsc. S tru ctu res.
30,010 15
27,586 36
569 17
1,854 62
T ran sp o rtatio n
of Men a n d
8,040 26
M a te ria l_____
Injuries to P er­
983 62
sons__________
426 25
173 75
383 62
T o ta l..................$3,177,869,;99>$2,356,055 12 $3,090,926 75 $8,624,851 86
I I .— E quipm ent—
S team L ocom o­
$29,452 62
$29,452 62
tives _________ ___________
___________
P assenger T rain
C ars__________ ___________
___________
132,228 70
132,228 70
F reight T rain
11,725 25 C r.946,414 75
C a r s .. . _____________________C r.958,140 00
11,049 33 1,081,085 67
W ork E q u ip m ’t . ___________ 1,070,036 34
T o ta l................................................ $111,896 34 $184,455 90 $296,352 24
I I I .— General
E xpenditures—
$493 37
L aw E x p e n se s ..
$403 87 ___________
$89 50
O ther E xpen di­
65,495 93
53,534 32
tu r e s ..................
10,96101
$1,000 00
$11,365 48
$1,000 00
$53,623 82
$65,989 30
T o ta l.
G rand T o ta l..$ 3 .189,285 47 $2,468,951 46 $3,329,006 47 $8,987,193 40

MILEAGE STATISTICS.

In c. ( + ) or
Dec. (— ).
1910.
1909.
M iles.
M ile s .
F reig ht L ocom otive M iles____ 20,664,263
17,533,620 + 3,1 30,6 43
P assenger L ocom otive M iles_ 17,882,270
16,079,035 + 1,803,235
— 357,816
912,212 1,270,028
M ixed L ocom otive M iles.......................
+ 3 ,7 6 8
Special L ocom otive M iles......................
14,372
10,604
Sw itching L ocom otive M iles________ 9,858,473 8,162,678 + 1,695,795
T otal R evenue L ocom otive M lleage49,331,590 43,055,965 + 6,275,625
N on-revenue Service L ocom otive
+ 529,718
Miles .................
2,379,048 1,849,330
Car M ilea g e— R evenu e S ervice —
F reig ht C ar M iles-­
+ 49,880,129
L oaded ..................................
437,559,610 387,679,481
E m p ty -----------180,914,529 162,025,877 + 18,888,652
C a b o o se .................................................... 18,518,939 15,821,177 + 2,697,762
T o tal F reig h t C ar M iles_________636,993,078 565,526,535 + 71,466,543
Passenger C ar M iles—
46,949,693 41,837,410 + 5,112,283
P asseng er..............
Sleeping, P arlo r a n d O bserv atio n . 25,683,230 21,510,726 + 4,1 72,5 04
O ther P assenger T ra in C ars. 37,103,965
32,429,171 + 4,6 74,7 94
. T otal Passenger C ar M iles............. 109,736,888 95,777,307 + 13,959,581
Special C ar Miles—
+ 25,546
F reig h t, L o ad ed .....................................
157,000
131,454
— 43
F reig h t, E m p ty .................................... ...................
43
+ 4 ,9 4 7
C a b o o se ............. .......................................
13,443
8,496
+ 8,774
P assenger......................................
49,119
40,345
— 3,248
Sleeping, P arlo r an d O b serv atio n .
653
3,901
+ 1,399
O ther Passenger T rain C ars______
2,571
1,172
+ 37 ,375
T o ta l Special Car M iles.................
222,786
185,411
T o ta l R evenue C ar M ileage_____ 746,952,752 661,489,253 + 85,463,499
N on-revenue Service C ar M iles______ 17,209,298 13,070,575 + 4,138,723
T rain M ilea g e— R evenu e S ervice —
Freight T ra in M iles..................................... 18,595,294 15,823,841 + 2,771.453
P assenger T rain M iles.............................. 17,336,810 15,695,928 + 1,640,882
— 358,302
M ixed T rain M iles...........................
906,073 1,264,375
+ 2,995
Special T ra in M iles.................
12,907
9,912
T o tal R evenue T ra in M ileage_ 36,851,084
32,794,056 + 4,057,028
+ 373,681
N on-revenue Service T rain M iles____ 1,788,271 1,414,590
IT E M S
L ocom otive M ile a g e — R ev. S ervice.

M ile s .

T H E CH RONICLE

12 60

[Vox*. LXXXXl

TRAFFIC STATISTICS.
IT E M .
Passenger T ra ffic —
N u m b er of P assengers Carried E arn in g R e v e n u e __________
N u m b er of P assengers C arried O ne M ile_________________
N um ber of Passengers Carried O ne Mile p er M ile of R o ad A verag e D istance C arried, M iles____________________________
T o ta l P assenger R even ue____________________________________
A verage A m o unt R eceived from E ach P asseng er__________
A verage R eceipts p er P assenger per M ile......................................
T o ta l P asseng er Service T rain R e v e n u o -_____ ______________
P assenger Service T rain R evenue p er Mile of R o a d _______
P asseng er Service T rain R even ue per T rain M ile __________
Freight T ra ffic—
N um ber of T ons C arried of F reig h t E arn in g R e v e n u e _____
N um ber of T ons C arried O ne M ile__________________________
N um ber of T ons C arried O ne Mile p er M ile of R o a d - ...........
A verage D istance H aul of O ne T o n , M iles--------------- ----------T o tal F reig h t R ev en u e______________________________________
A verage A m o unt R eceived for E ach T on of F re ig h t---------A verage R eceipts per T on p er M ile-------------------------------------F reig h t R evenue p er M ile of R o a d --------------------------------------F reig h t R evenue p er T rain M ile____— ---------- -------------------Total T ra ffic—
O p eratin g RHove
e v e n u e s _________________________________________
O p eratin g R evenues per M ile of R o a d ---------------------------------O p eratin g R evenues per T rain M ile------------------------------------O p eratin g E xpen ses------------------------------ ----------------------- --------O p eratin g E xpenses per Mile of R o a d ---------------------------------O peratin g E xpenses p er T ra in M ile ------------------------------------N et O p eratin g R e v en u e-------------------------------------------------------N et O p eratin g R evenue p er Mile of R o a d -------------------------A verage N um ber of P assengers per C ar M ile_______________
A verage N um ber of Passengers p e r T rain M ile____________
A verage N um ber of P assenger Cars per T rain M ile_______
A verage N um ber of T ons of F reig ht per L oaded Car MUe.
A vcrage N um ber of T ons of F reig ht per T rain M ile________
A verage N um ber of F reig h t Cars per T rain M ile __________
A verage N um ber of L oaded Cars per T rain M ile __________
A verage N um ber of E m p ty Cars per T rain M ile .....................
A verage M ileage O perated du rin g Y ear_____________________

EQUIPMENT.

1010.
Dollars
Cents
and iv hole
and
N um bers. D ecim als.

1000.
Dollars
Cents
and whole
and
N um bers. Decimals.

21,512,255
20,227,505
1,180,871,613
1,056,225,686
131,870
117,058
55 31
52 22
$22,380,305 83
$19,585,305 02
$1 04035
06825
01881
01854
$27,566,795 71
$24,548,772 90
$3,055 15
$2,720 66
$1 51109
$1 44743
27,867,618
25,055,767
7,435,144,216 _____ 6,620,646,367
824,016
733,745
266 80
264 24
$58,224,537 48
$52,240,920 60
$2 08033
$2 08490
00783
00789
$6,452 86
$5,789 69
$2 08566
$3 05713
$87,860,517 24
$78,612,620 36
$0,738 33
$8,712 39
$2 39716
$2 38445
$63,010,064 88
$54,560,907 77
$6,083 33
$6,046 82
$1 70988
$1 66375
$24,858,552 36
$24,051,631 50
$2,755 00
$2,665 57
16
17
65
62
6 02
5 65
16 99
17 08
381 26
387 44
32 66
33 00
22 44
22 69
0 28
9 48
0,023 06
0,023 00

Increase or Decrease.
Dollars
Cents
and iv hole
and
N um bers.
Decim als.
In c. 1,284,750
I n c .133,645,027
Inc.
14,812
Inc.
3 09
Inc. $2,795,000 81
10721
Inc.
Ino.
00027
Inc. $3,018,022 72
Inc.
334 49
In c ........ . ____ 06366
Inc. 2,811,851
In c .814,407,840
Ino.
00,271
Ino.
2 56
Ino* $5,083,616 88
In c . . .................. 00134
00006
Deo
Inc.
663 17
D e o _________ . 07147
In c. $0,256,687 88
Ino.
$1,025 04
D e o ___________ 01271
Ino. $8,440,067 11
Inc.
$036 51
I n c . ___________ 04013
Ino. $800,020 77
Ino.
$80 43
Doc.
1
Ino.
3
Inc. . . . .
__ 37
Dec ............... ... 00
Dec. .
6 18
D e o ___________ 43
D e c ___________ 25
D ec — ........— 20
Dec ___________ 03

INCOME ACCOUNT.

O P E R A T IN G IN C O M E.
perations—
AverageTrac- R ail OOperatin
g R evenues:
Num ­ N um ­
tive Power
R evenue from T ran sp o rtatio n :
N um ber ber ber N um ber A ll Locomo­
F reig h t ---------------------------$08,224,337 4 8
on added Re­
ITEM S.
on
tive and
P assenger------------------------ 22,380,305 83
J u n e 30 D tir­ tired J u n e 30 Average Ca­
■ Excess B aggage__________
320,068 24
1000. ing D ur­ 19.0. pacity A ll
M all---------------------------------- 2,230,215 Of.
Year. ing
Freight
E x p r e s s -------------------------- 2,216,040 24
Year.
Cars.
M ilk --------------------------------311,241 22
O ther Passenger T ra in
' 8,015 52
Locomotives— Ownetl—
S w itching------------------------ 1,157,01100
P asseng er---------------------------416
50
466
Special Service T rain 32,062 02
F re ig h t_____________________
919
62
857
M iscellaneous T ra n sp o rta ­
S w itching________________ _
338
12 . . .
350
74,650 16
tion ____
- $86,055 ' sr>2
T o ta l L ooom otlves______ 1,673
62
62
1,673 24,236 lbs.
R evenue from O perations
7ars Owned—
o th e r th a n T ra n sp o rta ­
P asseng er Service—
tion:
First-class C ars____________
630
5
625
S tatio n a n d T ra in P riv i­
C om bination C ars__________
225
3
228 _ .
leges __________________
$6,238 59
D ining C ars------------------------28
4
32
P arcel-R oom R e c eip ts__
6,907 50
P a rlo r C ars - ............................
7
4 ...
11
Storage F reig h t_______ _
44,116 56
B aggage, E xpress a n d P os­
S torage B aggage..................
20,650 60
227 —
...
tal C ars__________________
227
C ar Service_______________
295,140 16
O ther C ars In P asseng er Ser­
T elegraph an d T elephone
6
v ice—
42 . . .
36
S e rv ic e ________________
202,503 37
R ent of B uildings an d
11
T o t a l ____________________ 1,159
1,150
11
O ther P ro p e rty _______
09,367 10
F reig h t Service—
M iscellaneous____________
137,507 72
Box C ars___________________ 26,207
229 26,068
812,440 60
18
F la t C a rs_______ __________ 1,268
1,250
Jo in t F acilities, D r12,388 16
S tock C ars___________ ______ 6,991
7
6,984
J o in t F acilities, C r.
114,407 43
Coal C a rs__________________ 14,077
316 13,761
6
T an k C ars_________________
6
T o tal O p eratin g R even ues___________ $87,860,517 24
R efrig erato r C ars__________ 1,512 200 . . .
1,712
O p eratin g Expenses:
O ther Cars In F reig h t S er­
M aintenance of W ay and
vice______________________
100 . . . . . .
100
S tr u c tu r e s _______________ $15,725,461 20
M aintenance of E q u ip m en t- 15,057,165 30
T o t a l ____________________ 50,251 200 570 49,881 33.56 ton s.
T raffic E xpen ses___________ 1,654,451 73
C om pany’s .Service—
T ra n sp o rta tio n E x pen ses__ 28,340,051 74
31
O fficers’ a n d P a y C a rs_____
31
G eneral E x p e n ses_______ . . 2,233,834 82 ^
488
5
G ravel C ars________________
483
------------------- |— 63,010,064 88
33
2
D errick C ara_______________
35
648
18
Caboose C ara_______________
666
N et O peratin g R e v e n u e . _ _____ _______ ___________ $24,858,052136
O ther R o ad C ars___________ 3,297 557 . . .
3,854
O utside O perations—
Mg
........... . _ $780,482 24
R ev en u e___________ _______ .
5
T o t a l ........................................ 4,407 577
5,069
E x p e n se s__________________________________
044,764 30
T o ta l C ars O w ned______ ______ 55,907 788 586 56,109
N et D eficit from O utside O p e ra tio n s______ _____________ ‘**'164,282 16
T otal N et R e v e n u e ________ _________ _____ ___________$24,604, 270 21
MILEAGE.
T axes A ccrued_____________ ___________________ ______________ 2,070, 736 78
M IL E A G E O F R O A D O P E R A T E D .
O peratin g In c o m e .. _________________________________ $21,723,533/43
- L in e Owruid------------ Operated Total .
O T H E R IN C O M E.
M a in Branches
Under
L in e
State—
L ine. and S p u rs. Total. Lease. Operated. R en ts A ccrued from L ease of O ther R o a d s.$2,844 12
Illinois .........................................356.25 1,278.48 1,634.73 43.31 1,678.04 O ther R e n ts—Credits:
Io w a _______________________274.55 1,000.43 1,364.08 73.47 1,438.45
Jo
in
t
Facilities..........
..
$617,481
27
W isc o n sin -------222.57
222.57
223.10
.53
M iscellaneous R e n ts _______
125,460 06
742,942 23
M in n e so ta _____
23.61
23.61 14.84
38.45
R eceived on Stocks O w ned or Con­
M issouri_______
1,121.62 1,121.62 11.63 1,133.25 D ividends
tro
lled
______________________________________
608,578 00
K an sas..................
259.32
250.32
260.14
82
re st Received on F u nded D ebt O w ned or
N e b ra sk a ______
2,659.17 2,850.78 22.37 2,873.15 In te
C
o
n
tro
lle
d
_________________________________
280,232
03
283.37
S o uth D a k o ta ..
283.37
283.37
re st on O ther Securities, L oans a n d Ac­
W y o m in g ____
482.77
482.77
482 77 In te
c
o
u
n
ts
.._
______________
700,007
43
M ontana ______
187.28
187.28 12.62
199.90
------------------------ 2,523,603 81
C o lo ra d o ______
304.38 34.07
304.38
429.35
Gross
C
orporate
In
co
m
e__________________
$24,247,227^24
822.41 8,003.00 8,825.41 214.56 9,039.97
D E D U C T IO N S FRO M G RO SS C O R P O R A T E IN C O M E.
-L in e OwnedR en ts A ccrued for L ease of O th er R o a d s-----$25,275 56
Third Yard Track
Second
S ingle
O ther R e n ts— D ebits:
State—
T rack.
T rack. . T ra ck . A S idings.
Total.
H ire of E q u ip m en t— B alance $010,767 38
Illin o is_________
220.06 23.55
828.12 2,706.46
Jo in t F acilities ..................
803,103 53
Io w a___________
316.63 1,026.14
244.53
R e n ts _______
25,366 43 1,730,237 34
__
W isc o n sin ____
69.40
8.70
300.67 In teMreiscellaneous
st A ccrued on F u nded D e b t..................
8,506,015 82
__
M in n e so ta ______
29.08
2.25
54.94
O
ther
In
te
re
s
t_______________________________
1,077 06
__
M issouri________
412.51 1,634.82 Sinking F u n d s C hargeable to Incom e_________
100.60
066,874 30
____
K a n sas--------------23.34
282.66
».---------------------- 10,038,4*1(06
__
N e b ra sk a ...............
638.21 3,404.39
5.40
____
S o uth D a k o ta ..................
64.56
283.37
347.03
N et C orp orate In c o m e ........ ............................................. ..$ 13,308,746.18
__
W y o m in g ______
136.75
619.52
____
__
M ontana _______ ............... .. 187.28
34.64
D IS P O S IT IO N O F N E T C O R P O R A T E IN C O M E.
221.02
------' 119.37
C o lo ra d o _______ .................... 304.38
....
513.75 D ividends declared on Stock:
2 % . payable O ctober 1 1000 $2,216,782 00
8,825.41 581.63 23.55 2,672.61 12,103.20
2 % , payable Ja n u a ry 1 1010 2,216,782 00
2% , payable A pril 1 1 0 1 0 .. 2,216,782 00 '>
Following 13 the report of the General Auditor, with state­ A ppropriations
2 % , pay ab le Ju ly 1 1 9 1 0 .... 2,216,782 00 8,867,128 00
for B etterm en ts:
ments prepared by him.
3,329,006 47
E xpended d u rin g th e y e a r. .........................
By order of the Board of Directors.
------------ i— —----- 12,196,134 47
DARIUS MILLER, P re sid e n t.
B alance for y e a r . . ............. ......................... ................... . . . $1,112,611 7 !



Nov. 5 1910.1

TH E CH RO NICLE

1201

GENERAL BALANCE SHEET JUNE 30 1010.
A SSETS.
L I A B IL I T I E S .
P ro p e rty In v e stm en t— R oad a n d E quip m ent:
C apital Stock:
R o a d _______ ________________ ____________5319,827,(552 0(5
___________
C
om
m
on
S
to
ck
E q u ip m e n t_____ _•________________________ 53,373,553 17
M ortgage, B onded a n d S ecured D e b t:........................................ - »siiiu1 0.w8 3» 9.iw1 0)0 oc0 0
G eneral E x p e n d itu re s---------------------------- 1,454,543 375374,655,748 60
F u nded D ebt—
R eserve for A ccrued D epreciation— C red it----------------------- 9,965,231 84
M ortgage B onds—
H eld^by C o m pan y......................................$12,978,000 00
T o ta l................................... - ......................- ................... - ...............$364,690,516 76
heldT ru
bystCBoonds—
m p a n y ........................... 177,390,800 00 190,368,800 00
Securities:
C ollateral
Securities of P ro p rie tary , A ffiliated a n d C ontrolled Com­
H eld by C o m p a n y . ............................... _
5 4 . 7 0 0 00
panies, P ledged—
N ot held by C o m pan y............. ............... 7,255,500 00 7,310,200 00
S to ck s...............................................- ---------- --------------------------- 10,344,014 38
Plain B onds—
Securities Issued or A ssum ed, P ledged—
H eld by C om pany....................... ..............
26,000 00
31,000 00
F u nded D e b t__________________________________________
N ot held by C o m pan y--------------------- 12,151,000 00 12,177,000 00
Securities of P ro p rie tary , A ffiliated a n d C ontrolled Com ­
panies, U npledged—
T„ , . L iabilities— ................................................................................$209,856,000 00
S to ck s.......................................................................$7,503,624 44
F u nded D e b t------------- ----------------- ----------- 722,050 00 8,225,674 44 W Torking
raffic a n d C ar-service B alances due to o th er C om panies
$746,291 58
8,426,378 40
A udited V ouchers a n d W agc3 U n p aid ........ ........................ ..
T o ta l............... . . . .
............................ ............ .................... $27,600,688 82
M iscellaneous A ccounts P a y a b le ________________________
588,970 22
O ther Investm en ts:
M atured In te re st a n d D ividends U n p aid ________________ 2,168,762 50
A dvances to P ro p rie tary , A ffiliated a n d C ontrolled Com ­
M
atured
M
ortgage,
B
onded
a
n
d
Secured
D
ebt
U
n
p
a
id
..
11,100 00
panies for C o nstruction , E quip m ent a n d B e tte rm en ts.
401,845 46
O th er W orking L iab ilities.............................................. ................
57^430 09
M iscellaneous In v estm en ts—
P h ysical P ro p e rty ___________________
$1,482,513 21
. $11,998,932 79
Securities U np led ged___________________ 1,321,134 03
2,803,647 24 A ccrued L iabilities N o t'D u e —
.....................................
U
n
m
atu
red
In
te
re
st
a
n
d
S
in
king
F
u
n
d
P
a
y
m
en
ts______
. $1,518,398
T o ta l________________ ________________ ________________ $3,205,492 70
T axes A ccrued____________
— 28
-00
.
72,000
W orking Assets:
C a s h ........ ................................................................... ............................... $9,103,246 56
.
$1,590,398
28
Securities Issued or A ssum ed, H eld In T re a su ry —
D eferred C redit Item s—
F u nded D e b t________ :_______ ... _______ ____________ 13,058,700 00
O peratin g R e s e rv e s ____________
.
$791,674 82
M arketable S ecurities—
L iab ility on A ccount of P ro v id e n t F u nds
.
496,538 89
S to ck s____________ ________ _ ______ . 5747,572 12
O ther D eferred C redit Item s
.
188,339 20
F u nded D e b t_______________________________
47,543 75 795,115 87
L oans a n d Bills R eceivable________________ ____________ 2,037,300 85
$1,476,552
91
N et B alance D ue from A gents a n d C o n d u cto rs_____
2,114,516 85 A ppropriated S urplu s— ................................. ............................. ? 1 ’47. 6-552
91
M iscellaneous A ccounts R eceiv able______________________
4,453,959 68
A dditions to P ro p e rty since Ju n o 30 1907, th ro u g h I
C 8,752,501 94
M aterials and S u pplies_____________ _______ __________ 8,969,701 53
R
eserves
from
Incom
e
or
S
u
rp
lu
s—
O ther W orking A ssets_____________
_______ _
26,641 59
I
3 32,800,154 37.
T o ta l-------------------- -------------------------------------- --------------$40,559,182 93
D eferred D ebit Item s—
. $41,552,656 51
A dvances—
P rofit a n d L ossT em po rary A dvances to P ro p rie tary ,
. $41,785,373 25
A ffiliated a n d C ontrolled C om panies . 5612,763 10
. 42,302,003 33
W orking F u n d s------------------------------------275,575 91
------------- ---------------31,172 46
919,511 47
O th er A dvances
T
o
ta
l----------------------------------------------------------------------$84,087,376 5 8
In su rance Paid In A dvance__________________
1 3 4 9 2 4 08
Cash an d Securities In S inking F u n d s _
16 263’(!37 4 3
4 9 6 5 3 8 89
Securities in P ro v id en t F u n d s__________
O ther D eferred D ebit Ite m s__________________________
7,530,’.523 99
T o ta l.................................................................................................... $25,345,135 86
G rand T o ta l............................................. ...................................... $461,401,017 07
G rand T o ta l..................................................................................$461,401,017 07
Q U IN C Y O M A H A & K A N S A S C IT Y H R . CO.

INCOME ACCOUNT YEARS ENDED JUNE JO.
O P E R A T IN G R E V E N U E S .
1 0 1 0 . „„
1909.
$570,103 68
-------------------------- F reig h t R ev en u e__________
$527,842 88
236,062 94...............................P
a sse n g er R ev en u e.................................. 211,846 82
26,375 6 0 ------------- ---------— Mall R e v e n u e ___________________ 26,460 96
24,182 86 -------------------------- E xpress R ev en u e________
19,656 08
6,585 81 -------M iscellaneous T ra n sp o rta tio n R even ue______ 7,647 38
8,757 J_7Rcvcnue
from O perations o th e r th a n T ra n sp o rta tio n 8,273 92
$8Y2,008 06------------------ T o tal O peratin g R ev en u e_____________ $801,728 0 4
O P E R A T IN G E X P E N S E S .
$316,641 65 ------- M aintenance of W ay and S tru c tu re s........... $216,441 11
165,211 21 ---------------- M aintenance of E q u ip m e n t........................ 143,850 72
17,342 66 ---------------- --------- T raffic E xpen ses ..................... ....... 18,635 55
387,807 68 ------------------ T ra n sp o rta tio n E xpen ses_____________ 372,286 32
34,337 90---------------------------G eneral E x p e n s e s___________________ 35,547 93
$921,341 U)-------------------T otal O peratin g E xpen ses______________ $786,761 63
$49,273 0 4 (D eficit)------N et O peratin g R ev en u e____ (Surplus) $14,960 4 l
36,128 85...........................
T axes A ccrued______________ 29,910 32
$85,401 8 9 (D eficit).............-O p era tin g In co m e________ (Deficit) $14,943 91

$77,797
1,286
$79,083
$6,318

O T H E R IN C O M B .
00 ------------------------------------R e n ts________________________$22,308 39
19-----------------------M iscellaneous In te re st_______________ 1 , 2 4 4 79
28 -------------------------T o ta l O th er In co m e.
$23,553 08
61 (D eficit)------Gross C o rp orate Incom o____ (Surplua) $8,609 17

D E D U C T IO N S FR O M G R O SS C O R P O R A T B IN C O M E .
44,941 36................................................R e n ts ________________________ 4 1 , 5 5 4 12
$51,259 97(D eftclt)--------N et C orporate In com o______(D eficit) $32,944 9 5
35,504 92 .................. A pp ro priatio ns for B e tte rm e n ts ............... 31,735 17
$86,764 89(D eflclt)..........................B a la n c e ............................ (Deficit) $64,680 12

THE YAZOO & MISSISSIPPI VALLEY RAILROAD COMPANY.

TWENTY-NINTH ANNUAL REPORT—FOR THE YEAR ENDED JUNE 30 1010.
To the Board of Directors:
increase of $348,892 50 in gross operating income
There is submitted herewith a statement of the operations Theprincipally
from transportation of freight, $51,767 13;.
and affairs of the company for the fiscal year ended June JO was
transportation of passengers, §161,282 44; express, §44,­
1910:
01; rent of tracks and property, §45,187 39; hire of equip­
T ho nu m b er of m iles In op eration on Ju n e 30 1900 w as.....................
370 66 999
ment, §32,929 23.
T hero w as added du rin g th e year:
T lm b erto n Ju n ctio n to T lm b c rto n , L ouisiana .
132
Operating expenses decreased §236,078 01. There was
N um ber of miles op erated on Ju n e 30 1 0 1 0 ..........................................1,371.98 a decrease of §462,892 44 in the expenses of conducting
transportation, partially offset by increases of §49,081 17 in
The average miles operated were 1.J71.25, an increase of maintenance
of way and structures expenses, §176,709 08 in
.5!) mile over the previous year.
maintenance of equipment expenses and §1,024 18 in other
INCOME FOR TIIE YEAH.
expenses.
....
Increase ( + ) or
Expenses other than operating increased §158,293 38,
*910.
1909. Decrease (— ).
A verage m iles o p e ra te d ...........
1,371.25
1,370.00
+ .5 9 largely made up of rent of tracks and property, §75,329 07,
and hire of equipment, §75,269 17.
T ra n sp o rta tio n rev en u e--------- 9,839.855 90 9,575 435 75 4-264
Taxes decreased $6,605 48, principallybecau.se of the sale
O ther o p eratin g rev en u e ____ . .
99,487 00
94,907 30 -f l|57 0 70
T otal o p erating rev en ues. . 9,939,34 2 90 9,070,343 05 + 268,999 85 of property in New Orleans and vicinity.
Fixed charges and interest increased §23,230 62.
. 444,806 97
364,914 32 + 70,892 65
Exclusive of any interest on Second Mortgage Bonds or
-10,384,149 87 10,035,257 37 + 348,802 50 Land
Grant Income Bonds, the surplus for the year was
E xpenses o th e r th a n Operat n - 7,608,215 85 7,934,293 86 — 236,078 01 §204.974 58; last year there was a deficit of §205,077 77.
The mortgage given in 18S6 to secure the Second Mortgage
e x p e n s e s _________. . . l . . . . . - 803,130 75
644.837 37 + 158,293 38
bonds provides that interest is to be paid on them only when
Gross e x p e n s e s ..::.!
- 8,501,346 60 8,579,131 23 — 77,784 63 it shall be earned and so determined and declared by the
- 430,337 81
436,943 65 — 0,605 84 Board of Directors, but that such interest shall be cumulative,
- 8,031,684 41 9,016,074 88 — 84,390 47 and in case less than two and one-half per centum be paid
40 1,019,182 49 + 433,282 97 in any half-year, the unpaid interest, with interest on such
Incom e from Investm en ts, etc . .- 1,452,465
1.750 00
1,750 00
unpaid interest at the rate of five per centum per annum,
. 1,454,215 40 1,020,932 49 + 433,282 97 shall be carried forward to the credit of the bonds for subse­
quent payment as such net earnings shall suffice for, or at
F ixed charges a n d Interest on)
n o t e s ......................._____________. 1,249,240 88
26 + 23,230 ft the maturity of the bonds. The Louisville New Orleans <fc
Surplus carried :to profit and loss) 204,974 58 1.220,010
*205.077 77 + 410,052 35 Texas Railway Company permitted the interest on those* Deficit.
bonds to accumulate until the autumn of 1892, when that



1

420

15

TH

1262

CH RO NICLE

VOL LXXXXI.

ADVANCES ACCOUNT OF OTHER RAILROADS.
Company was merged into the Yazoo & Mississippi Valley
Railroad Company. Since then in each of the fiscal years There was advanced to the Baton Rouge Hammond &
ended June 30th 1893, 1894, 1895, 1890, 1897, 1898, 1901, Eastern Railroad Company $3,725 90 to cover expenditures
1902 and 1903 payments ranging from 8198,451 00 to $1,­ on construction and to the Memphis Railroad Terminal
016,078 91 have been made on account of interest due there­ Company $2,750 00.
on. The arrears of interest due and unpaid upon these
bonds amounted on June 30th 1910 to 89,990,019 12.
MAINTENANCE OF WAY AND EQUIPMENT.
No interest has ever been paid on any part of the $10,000,­
000 00 of Land Grant Income bonds of the Louisville New In the following table main track only is included:
T h is Year. L a st Year.
Orleans & Texas Railway Co.
New rail la id ---------------------------------------------------------- - - - - ------ 4,403 ton s
R
e-rolled
a
n
d
relieved
rail
la
id
____________________
G.G18
ton s
7,4GG ton s
ROAD AND EQUIPMENT.
T o ta l...................................................................- ................... 0,018 tons 11,809 ton s
The $233,653 25 expended for construction, additions and A verage
w eight (pounds per yard) of ra il-------------- --- 70.07
09.22
betterments was added to cost of road.
A verage a g e ______ _________________________________13.08 years 13.28 years
M ileage ballasted a t end of y e a r---------------------------- 60 per cen t 04 per cen t
Cost of m ain ten an ce of w ay a n d stru c tu re s per
FUNDED DEBT.
m ile of road o p e ra te d ---------------------- ------------------ $1,525 32 $1,490 17
ten an ce of equ ipm en t per m ile of road .............
Gold Improvement Bonds and scrip to the amount of Costo p eoframte ain
d (excluding M arine E q u ip m e n t)---------- $1,342 18 $1,199 80
$233,053 25 were issued in payment of money borrowed for Further
detail is shown in annexed tables.
construction, additions and betterments.
Respectfully submitted,
INSURANCE FUND.
J. T. IIARAHAN,
The credits to the fund exceeded the charges by $37,470 90;
President.
the balance in the fund as of June 30 1910 was $159,801 35.
TABLE NO. 1—ASSETS AND LIABILITIES.
J u n e 30 1910. J u n e 30 1909.
ASSETS.
C apital A ssets.
R ailroad a n d e q u ip m e n t.-.................. .. $50,038,395 16 $50,404,741 91
$50,038,395 16 $50,404,741 91
Current A ssets.
Bills receivable----------------------------------Duo from a g e n ts______________________
Individuals and com panies----------------M aterial a n d su pplies_________________
Dc)erred A ssets.
A dvances acco u n t o th e r R ailroads:
M em phis R R . T erm in al C o ..............
B aton R ouge H am . & E astern R R .
Contingent Assets.
Assets In In su ran ce F u n d -----------------A ssets In P ension F u n d .................. ...........
Assets w ith T ru stees of L an d G ran t In
com e B ond M ortgage---------------------B alance to D ebit of P rofit a n d L oss.
T o tal A s s e ts ,................... — ..............
T A B L E NO.

$7,500
193,674
33,708
603,988
$838,930

$7,500
00
181,134
47
3,890
35
958,791
00
82 $1,151,322

00
98
09
52
59

$122,750 00 $120,000 00
1,362,305 35 1,358,579 39
$1,485,055 35 $1,478,579 39
$122,324 39
50,000 00
3,203,258 28

$159,801 35
50,000 00
3,334,127 20

$3,543,928 55 $3,375,582 67
$55,581 27
$62,506,309 88 $62,405,807 83

2—RAILROAD AND EQUIPMENT.

Y ear E nded
Y ear ended
J u n e 30 1910. J u n e 30 1909
^ e n t Ju ly r i - ? - - - ^ - ^ - <1-U- ^ 3 8 , 404,741 91 $58,029,054 28
A m o u n t expended du rin g th e
•
I T 7 a8. ,h .0W.a . - a - Ta-b- !
233,053 25
375,087 63
T o t a l ...................................... $50,038,393 10 $50,404,741 91
TA B LE NO.

Increase(+ ).
D ecrease(— )
+ $3 75 ,0 87 03

- 1 4 2 ,0 3 4 38
+ $2 83 ,0 53 23

5—PROFIT AND LOSS.

L I A B IL I T I E S .
C apital L iabilities.
C apital S to ck -----------------------F u nded D e b t----------------------C urrent Liabilities.
L oans a n d bills p a y ab le _____
T raffic b a la n c e s........................
Indiv idu als a n d com panies-.
M iscellan eo u s______________
Dejerred Liabilities.
In te re st accrued on B onds to Ju n e 30.
Contingent Liabilities.
Insu rance F u n d ...................................... •
Pension F u n d --------------- ----------------R eplacem ent of E q u ip m en t F u n d -----F u nd for A u to . Couplers & A ir B rakes
T ru stees of L and G rant Incom e Bond
M ortgage F u n d .....................................

J u n e 30 1910. J u n e 30 1909.
$0,108,400 00 $6,108,400 00
49,345,088 06 49,111,434 81
$55,513,488 00 $55,279,834 81
$318,012
323
2,182,759
0,144
$2,507,838

45 $043,587
05
9,001
01 2,440,543
4,207
27
78 $3,103,930

03
82
12
07
04

$230,093 34

$230,093 34

$230,093 34

$230,093 34

$122,324
50,000
450,472
19,885
3,334,127 20 3,203,258
$4,008,180 21 $3,845,940
$240,703 49
B alance to C redit of P rofit a n d L o s s .,
T o tal L iab ilities................................. . $02,500,309 88 $62,405,807

39
00
10
21
28
04

$5,470
2,317
38,576
387
10,200
2,584
24.745
11.745

84
79
28
44
76
33
86
38

$159,801 35
50,000 00
401,257 GO

Im p ro v em en t of over a n d u n d er grade cro ssin gs----------------T elegraph a n d telephone lines--------------------------------------------S tatio n buildings a n d fix tu res--------------------------------------------Shops, engine houses and tu rn ta b le s-----------------------------------W a te r a n d fuel sta tio n s-------------------------------------------------------G rain elevators and sto rage w areho uses............................ - - - - ­
D ock a n d w harf p ro p e rty ----------------- :...............................................
M iscellaneous stru c tu re s-----------------------------------------------------New Lines*
P hilipp to C h arleston ________________ _______— $3,880 22
Silver C ity to K elso--------------------------------------------- 4 >999 25
T utw llcr to R ulevlllc___________________________ C r. 18j* 39
Belzona exten sio n ----------------------------------------------- Cr.70 50

83

7,723 01
$284,497 27

E q u ip m en t B u ilt, P urchased or Im proved:
B alance Ju n e 30 1909----------------------------------------------------------------S team L ocom otives— Im p ro v em en ts to locom o­
Suspended claim a cc o u n t.....................................................- ........................ 4 ,ooo io
tives alread y In service acco u n t of headlights
D epreciation on equ ipm en t prior to Ju ly 1 1908------------------------- 29,053 74
a n d self-dum ping a sh p a n s---------------------------- - $J.611 40
B alance Ju n e 30 1910----------------------------------------------------------------- 240,703 40
P asseng er T rain Cars— Im prov em ents acco unt of
$329,349 25
electric-lighting a p p a ra tu s applied to cars al­
read y In service........ ............................. ,----------------- 2,300 00
F reig h t T rain Cars— R ebuilding 1 caboose c a r ..
433 35
S urplu s Incom e per tab le No. 0.........................................................ij?
F lo atin g E q u ip m en t— C onstructing 2 b a rg e s.- . 5,193 47
B alance In fund for a u to m a tic couplers a n d air b ra k e s.................. 19,885 2 1
S u n d ry a d ju stm e n ts. ------------------------------------------------------------------- 104,485 4 0
$13,538 22
$329,345 25
Less C ost or R ecord V alue of E q u ip m en t o u t of
service du rin g th e year ended Ju n e 30 1910
a n d credited to A dditions a n d B etterm en ts:
T A B L E NO. 6—INCOME ACCOUNT.
F reig h t T rain Cars— 84 freig h t c a rs____________ ™
W ork E q u ip m en t— 42 w ork c a rs........ .................— 19,175 ou
$7,698,215
85
O perating expenses (Table N o. 8 )...........- - - - - - - - - - - - - ............
F lo atin g E q u ip m en t— 1 b arg e___________________ 2,00<> on
803,130 75
E xpenses o th e r th a n op eratin g expenses (T able N o. 8 )...........
430,337 81
$04,382 24 Cr.$50,844 02
T ax es (T able N o. 8 )---- ---------------------------------------------------------$233,053 25
T o tal expenses an d ta x e s__________________________________ $8,931,684 41
F ix ed charges—
In
te
re
st
on
F
irst
M
ortgage
B
onds—
„
Y & M V
.......................$2,800,000 a t 5% $140,000 00
T A B L E NO . 8—OPERATING INCOME AND EXPENSES.
L,.’ N . O. & T .............................10,832,000 a t 4% 673,280 00 1,228,297 40
Year ended
Year ended Incrcase(+ )o r
In te re st on Gold Im p ro v em en t B o nds— ...........415,017 40
IN C O M E .
J u n e 30 1910. J u n e SO 1909. Decrease(— )
20,943 48
In te re st on D em and N o te____________________________________
204,974 58 T r» ° h rrta ti“ n revenue7.0025000 7 7 7 ,010?299 64 + 5 1 ,7 0 7 13
B alance to P rofit an d L oss___________________________________
2.220.985 82 2,059,703 38 + 16 1,28 2 44
P««pno-Vr..............
$10,385,899 87
Mail
130,750 14
135,913 03
+ 8 3 7 11
O peratin g rev en ue (Table N o. 8 )------------------------------------------- $9,939,342 £2
E xpress " I I I I I I I I I I I I I I I I I - 235,244 40
190,245 39 + 4 4 ,9 9 9 01
O th er passenger tra in rev en ue
33,322 04
42,499 04 — 0.176 19
Incom e Incident to op eration s (T able N o. 8 )------------------------444,806 97
Sw itching
45,309 20
37,139 24 + 8 ,1 0 9 90
$10,384,149 87
M i s c e l l a n e o u s ': : : : : : : : : : : : : . 1 0 0 , 1 7 0 0 3
qq . csq 0 3
+ 0 . 5 4 0 oo
.
1,750 00
In te re st on securities In pension fu n d .
T n til
. . . 9,830.855 00 0,575,435 75 + 20 4,42 0 15
$10,385,899 87 O ther o p e ra tin g rev en u e ----------99,487 00
94,007 30 + 4 ,0 7 9 70
T otal o p e ra tin g re v e n u e s-- 0,939.342 00 0,070,343 05 + 20 8,99 9 8o
T A B L E N O . 7— ADDITIONS AND BETTERMEN TS.
'
R oad:
' „ ‘ ' ,580
Incom e Incid en t to O p eratio ns—
R ig h t of w a y ------------------------Cr.$4 ,050 03
R e n t of tracks and p r o p e rty .. 09,857
24.070 ™
00
S ta tio n gro u n d s____________________________________________
*
H ire of e q u ip m e n t.....................- 110,057 .>3
83,128 30 + 3 2 ,0 2 9 23
00
W idening cu ts a n d fills.-----------------------------------------------------25.,001
S
u
ndry
o
th
e
r
Item
s__________
258,89i
50
2
o 7 .ll.) 47 + 1,776 03
,583
72
G rade revisions an d changes of lin e------------------------------------30 ,434 74
B ridges, trestles a n d c u lv e rts----------------------------------------------J
T o t a l __________________________444,800 97
364,914 32 + 79 ,892 65
41
Increased w eight of ra il__________ _______;------------ . - - .............
28 ,945
B a l l a s t ..............- ........................................................................................
l l ,180 79
G ross o p e ra tin g inco m e------10,384,140 87 10,035,257 37 + 34 8,89 2 50
55
S idings a n d sp u r tra c k s-------------------------------------------------------yjj ,419
F encing rig h t of w a y ________________________________________
1 3 .704 93



Nov. 5 1910.]

T H E CH RO NICLE

Y ea r ended I n c r e a s e ( + ) o r
Y ear ended
EXPENSES.
J u n e 30 1910. J u n e 30 1909. D ecrea se ( — )
O p eratin g ex p en ses—
5
M aintenance of w av and structures:
S upervision _______
105,217 57
R o ad w ay a n d tra c k s _________ 1,496,377 77
Signals a n d Interlocking p lan ts
8,855 71
473,830 78
S tr u c tu r e s ....................................
M iscellan eo us..............................7,310 07
T o t a l ........................................... 2,0 91.591 90
M aintenance o f equipm ent:
Supervision _________________
38,799 82
L o c o m o tiv e s_________________ 651,326 45
Passenger tra in c a rs................—
104,451 17
F reig h t tra in c ars.......................... 983,519 75
F lo atin g e q u ip m e n t--------------1,710 79
W ork e q u ip m e n t------------------26,790 63
S hop m achin ery a n d to o ls____
26,932 18
M iscellan eo us.............................. _ _ ____8,635 98
T o t a l ...............................— — 1,842,172 77
T ra ffic expenses........ ...............
197,641 74
190,835 77 + 6,805^97
Transportation expenses:
S upervision .................
164,291 35
165,336 33 — 1,044 98
Passenger tra in ex p en se s........... 471,741 36
490,508 92 — 18,767 56
F reig h t tra in ex p en se s________ 1,052,094 09 1,245,093 94 — 193,599 85
S ta tio n ex p en ses______________ 666,358 24
692,236 23 — 25,877 99
454,985 19 + 4 ,4 1 0 50
Y ard sw itchin g e x p en se s_____ 459,395 69
T elegraph a n d sig n a ls............... _
19,716 82 22,592 72 — 2,875 90
594,546 48 — 191,452 51
Claim s an d d a m ag es__________ 403,093 97
M iscellan eo u s.............................. __
48,627 73 82,311 88 — 33,684 15
3.748,211
69 — 462,892 44
T o t a l .............................................. 3,285,319 25

TA B LE NO. 9—

1263
Y ea r ended
June

Y e a r ended
June

30 1910.

G eneral e x p en ses:

30 1909.
$

In c r e a s e {+ )o r
D ecrease ( — ) .

S alaries a n d expenses of gen­
eral officers________________
28,192 30
26,603 86 + 1 ,5 8 8 44
Salaries an d expenses of clerks
a n d a tte n d a n ts ____________
92,786 52
91,204 19 + 1 ,5 8 2 33
G eneral office su pplies a n d ex­
penses ____________ ________
11,229 81 — 1,639 95
9,589 86
L aw e x p e n se s..................... .. .
73,500 08 — 3,853 24
69,646 84
I n s u ra n c e .................. .....................
60,366 77
— 366 77
60,000
00
P e n sio n s__________
3,460 25
+ 87 75
3,548 00
Pension d e p a rtm e n t ex p en ses.
314 03
+ 362 17
676 20
M iscellan eo us.................. ...............
20,592 99 — 3,542 52
17,050 47
T o t a l ............................................. 281,490 19
287,271 98 — 5,781 79
Total operating expenses.. 7,698,215 85 7,934,293 86 — 236,078 01

Expenses other than operating expenses—
R en t of track s a n d p ro p e rty * .
H ire of eq u ip m en t___________
S u h d ry o th e r Item s---------------

T otal.....................................
Gross
(excluding
taxes)expenses
- _______ __________
Taxes . . . ______ __________
Total expenses and taxes..
Operating income...........................

117,850
460,741
224,539
803,130

8,501,346
430,337
8,931,684
1,452,465

09
16
50
75

02 + 75,329
99 + 75,269
36 + 7,695
37 + 158,293

07
17
14
38

60 8,579,131 23 — 77,784
436,943 65 — 6,605
81
41 9,016,074 88 — 84,390
46 1,019,182 49 + 433,282

63
84
47
97

42,521
385,471
216,844
644,837

GENERAL OPERATING RESULTS.
Y ea r Ended
June

30 1910.
1,371.25

A verage m iles of R o ad O p e ra te d .
IN C O M E A N D E X P E N S E S .
$10,384,149 87
1. I n c o m e ............................- ..........................................- ............- ..........................
8,501,346 60
2 . E xpenses, exclusive of ta x e s---------------------------------------------------1,882,803 27
3. E xcess of incom e over exp en ses......................... ........................ ..............
81 87
4. P er c en t of expenses to Incom e________________________________
7,572 76
5. Incom e per m ile of ro a d .................. ........................ .................................... ..
6 . E xpenses per m ile of ro a d ............. .............................................................
6,199 70
7. E xcess of Incom e over expenses p er m ile of ro a d ........ .....................
1,373 06
8 . Incom e p er rev en ue tra in m ile ...........................................................__
2 20
9. E xpen ses per rev en ue tra in m ile............................................... .................
1 80
10. E xcess of Incom e ov er expenses p er revenue tra in m ile_________
40
T R A IN A N D LO C O M O TIV E M IL E A G E .
2,487,436
11 . R even ue freigh t tra in m iles................................................. - ......................
1 2 . R even ue passenger tra in m iles________________________________
1,946,423
288,355
13. R even ue m ixed tra in m iles____________________________________
2,198
14. R even ue special train m i l e s __________________________________
4,724,412
15.
T o tal rev en ue service train m iles--------------------------------------------*41,565
16. H elping a n d ligh t frelghtB locom otlve m iles-----------------------------30,467
17. H elping and ligh t passenger locom otive m iles-------------------------156
18. H elping an d ligh t m ixed locom otive m iles------------------------ --------19. H elping an d lig h t special locom otive m iles.........................................
4,796,600
20 . T o tal rev en ue service locom otive m iles, excluding sw itch in g ___
982,373
21 . S w itching locom otive m iles-------------------------------------------- ----------5,778,973
T o tal rev en ue service locom otive m iles______________________
22 .
23. N on-revenue service locom otive m i l e s . _____________________
271,020
24. P e r c en t of help ing an d ligh t m ileage to rev en ue tra in m ileage.
1.53
CA R M IL E A G E .
25. F reig h t car m iles— lo ad ed __________ ________ ________ _______ ____
48,505,561
26. F reig h t car m iles— e m p ty _______________________________________
14,335,010
27. F reig h t car m iles— caboose...........................................................................
2,511,268
28.
65,351,839
T otal fre ig h t car m iles________________________________________
29. A verage n u m b er of loaded freigh t cars per tra in m ile.....................
17.47
30. A verage n u m b er of em p ty freigh t cars per tra in m i l e ...............
5.16
23.54
31. A verage n u m b er of all freigh t cars per train m ile_______________
74.22
32. P e r cen t of loaded car m ileage to to ta l car m ileage..........................
21.94
33. P er cen t of e m p ty car m ileage to to ta l car m ileage____________
3.84
34. P er c en t of caboose car m ileage to to ta l car m ileage....................
35. P assenger car m iles_______________________________________ ______
10,553,267
36. A verage n u m b er of passenger cars per tra in m ile_______________
4.72
37. Special rev en ue service car m iles______________________ _________
31,978
38. N on-revenue service car m iles__________________________________
3,533,459
M ISC E L L A N E O U S.
39. A verage cost of m ain ten an ce of w ay a n d stru c tu re s p er m ile of first
an d second tr a c k .................................................................................... — ............
$1,516 81
40. A verage cost of re p a rls an d renew als per locom otive per a n n u m ____
2,713 86
41. A verage ocst of re p a irs an d renew als per passenger train car p er ann um
768 03
42. A verage cost of rep airs an d renew als per freight tra in car p er a n n u m ..
393 27
43. T ra n sp o rta tio n expenses per revenue train m ile........ ............................
69.54 cen ts
4. T ra n sp o rta tio n expenses per ,locom otive m ile In rev en ue serv ice___
56.85 cen ts

Y e a r E n ded
June

30 1909.
1,370.66

D ecrea se.

0.59

$10,035,257 37
8,579,131 23
1,456,126 14
85 49
7,321 48
6,259 13
1,062 35
2 10
1 80
30

$348,892 50
" 426,677" 13 !
...........25 1 2 8
310 71

.04
$77,784 63
' ...........3*62
.......... 59 43

10

2,540,127
1,920,822
311,502
3,681
4,776,132
36,831
35,244
609
9
4,848,825
1,010,192
5,859,017
275,513
1.52

25,601
4,734

0.01

48,546,658
16,201,337
2,532,328
67,280,323
17.02
5.68
23.59
72.16
24.08
3.76
10,833,882
4.85
73,056
3,225,726

2.06
0*08
307,733
$34 96
292 85
121 86
58 91

$1,481 85
2,421 01
646 17
334 36
78.48 cents
63.97 cents

P er
C en t.

3.
0.9
29.30
4.23
3.43
0.95
29.25
4.76
33.33

52,691
23,147
1,483
51,720
4,777
453
9
52,225
27,819
80.044
4,493

2.07
1.33
7.43
40.29
1.08
12.85
13.55
74.38
100.00
1.08
2.75
1.37
1.63

41,097
1,866,327
21,060
1,928,484
0.52
0.05
2.14
280,615
0.13
41,078

0.08
11.52
0.83
2.87
2.64
9.15
0.21
2.85
8.89
2.13
2.59
2.68
56.23
9.54

0.66

2.36
18.86
17.62
11.39
11.13

12.10

8.94 cen ts
7.12 cents

E xcludes m ileage of locom otives w ith cabooses on ly, w hich Is Included In rev en ue freigh t tra in miles
T A B L E N O . 10—

REVIEW OF TRAFFIC.
Y ea r E n ded
June

A verage m iles of road operated
P A S S E N G E R T R A F F IC .
1. N um ber of rev en ue passengers c a rrie d ..................- .........................................
2. N um ber of revenue passengers carried one m ile-------------------------------3. N um ber of rev en ue passengers carried one m ile per m ile of ro a d ---------4. A verage d istan ce carried _______________________________________________
5. R ovenuo from passengers--------------- ----------------------------------------------------6. A verage a m o u n t received from each passen ger-------------------------------7. A verage receipts for passengers per m ile____________________________
8. Passenger service tra in rev en u e______________________________________
9. Passenger service tra in rev en ue p er m ile of ro a d -------------------------------10. P asseng er service train rev en ue per train m ile_____ ______— .................
11. A verage nu m b er of passengers per tra in m ile................................................
F R E IG H T T R A F F IC .
(W ay-bill T onnage)
12. T ons of rev en ue freigh t c arried .................................................... ........................
13. T ons of com pany freigh t c arried .............— .....................................................
14. T o ta l to n s c arried ------------------------------------- ---------- -------------------------------15. T ons of rev en ue freigh t carried one m ile.....................................................
16. T ons of com pany freigh t carried one m ile-------------------------- ---------------17. T o tal to n s carried one m ile .- --------. . . ---------------------------------------- --------18. T ons carried one m ile p er m ile of ro a d — all fre ig h t---------------------------19. A verage d istan ce carried— rev en ue f r e ig h t......................................................

20.
21.
22.

R e c e ip ts fro m r e v en u e fr e ig h t........................................................................ .......
A v e ra g e a m o u n t receiv e d f o r each t o n ............................................................

28.

A v e ra g e ton s o f all fre ig h t carried p e r lo a d e d c a r m ile --------------------- ------

A verage rev en ue p er ton per m ile---------------------------------------------------------23. F reig h t rev en ue per m ile of ro a d -----------------------------------------------------24. F reig h t rev en ue p er rev en u e train m ile.............................................................
25. T o n s o f r e v en u e fre ig h t carried p er re v e n u e train m ile --------------------------26. T ons of all freigh t carried per rev en u e train m i l e . . , . ------------„ ---------27. T ons of all freigh t carried per rev en u e service locom otive m ile, ex­
clud ing sw itching m ileage--------------- ---------------- - - ---------------------------




30 1910.
1,371.25

Y ea r Ended
June

30 1909.
1,370.66

3,160,957
95,471,694
69,024
30.20 m iles
$2,220,985 82
70.263 cen ts
2.326 cents
$2,626,303 30
$1,915 26
$1 18
43

2,820,286
88,296,442
64,419
31.31 miles
$2,059,703 38
73.032 cen ts
2.333 cen ts
$2,428,360 84
$1,771 67
$1 09
40

5,323,046
938,885
0,262,531
967,101,375
95,694,586
1,062,795.901
775,056
181.60 m iles
$7,062,066 77
$1.32-655
.730 cen t
$5,150 09
$2 54
348.41
382.88
377.21
21.91

4,898,203
840,630
5,738,833
867,395,815
112,832,987
980,228,802
715,151
177.08 miles
$7,010,299 64
$1.43-120
.808 cen t
$5,114 54
$2 46
304.18
343.74
339.29
20.19

Increa se.

•

D ecrea se.

P er
C en t.

.59

0.04

340,671
7,175,252
5,205
$161,282 44

12.08
8.13
8.08
3.55
7.83
3.79
0.30
8.15
8.10
8.26
7.50

$197,942 46
$143 59
$0 09
3
425,443
98,255
523.698
99,705,560
82,567,159
59,905
4.58 m iles
$51,767 13
$35 55
30 08
44.23
39.14
37.92
1.72

1.11 m iles
2.769 cents
.007 cents

17,138,401
$0.10-465
.078 cen t

8.69
11.69
9.13
11.49
15.19
8.42
8 38
2.59
0.74
7.31
9.65
0.70
3.25
14.54
11.39
11.18
8.52

1364

T H E CH RONICLE

T A B L E NO.

Years
ended
June 3 0 .

Average
Allies
o[
Road
Oper­
ated.

12.—MAINTENANCE OF WAY AND STRUCTURES, JULY 1 1900 TO JUNE 30 1910.

Labor on
Track.

1 0 0 1 ................. 1.056.51 $ 4 29 ,67 0
1002 ................. 1 .095.32 5 5 2 ,1 1 9
1903
..............................
1,162.34 7 2 6 ,9 3 6
1904 ................. 1,173.11 6 1 2,5 62
1905 ................. 1 .204.00 6 4 6,7 49
1906
..............................
1 .2 1 1 .2 0 7 8 7,7 97
1907 .................. 1,239.54 8 5 4 ,1 6 8
1908
..............................
1 .297.65 6 8 5,0 05
1909
______________
1 .370.66 6 5 4,9 47
1910
. 1,3 7 1 .2 5 6 5 8.2 73

17
41
56
89
52
72
61
59
36
05

M A IN T E N A N C E OF W A Y .
Amount
Amount
Repairs
Tons o[ Charged No. 0} Charged
to
New
Ties.
to
ol
Other
Renewals Bridges.
Ralls. Renewals
Items.
o/ Ties.
0/ Ralls.
104.85
21 2.0 0
2 .3 2 0 .0 0
5 .3 8 1 .0 0
4 .9 4 6 .0 0
9 .4 8 2 .0 0
6 .6 4 1 .0 0
6 ,3 5 8 00
4 ,4 0 3 .0 9

C r.831
2 1 ,0 2 6
7 8 ,0 2 7
140,918
13 3.8 46
2 0 6 ,6 4 8
1 2 8,442
8 7 ,0 0 3
8 4 ,3 2 9
6 1 ,3 9 5

T A B L E NO . 1 3 .—

04
60
12
78
39
69
86
93
65
66

3 1 3 ,7 7 6
359,491
3 8 5,4 98
2 9 2,242
3 0 7,4 03
4 3 6,0 06
337.041
603,02!)
74 8,6 13
83 3,5 86

5102.246
117,680
13 4.8 39
116,313
115,507
168,634
142.980
24 9,4 17
4 1 7,8 79
4 9 4,3 08

41
43
00
34
73
29
00
27
34
21

$199,327
184.580
166,376
155,089
158,478
2 0 7,5 76
2 4 0,6 26
2 1 8,265
2 1 4,416
244,654

30
56
84
41
36
47
92
37
77
45

$ 1 90 ,73 3
171,177
3 3 7 ,3 1 3
2 8 1 ,0 6 9
3 9 7.9 59
61 2,2 85
6 0 8,8 22
4 0 4,051
4 7 9,1 05
4 2 3,5 11

Engines.

1 9 01....................
1902 ....................
1903 .....................
1904 .....................
1905 ................ ..
1900 __________
1907 .....................
1908 .....................
1909 .....................
19 10.....................

No.

Amount.

105
106
100
106
106
106
106
106
106
106

$192,295 81
227,4X8 44
259,994 72
315,888 07
332,118 90
324,544 12
380.079 70
479,717 43
581.042 52
651,326 45

Repairs Mainte­
oi
nance 0/
E xp’nsc Repairs Buildings, Way and
MllVSfl per mile of
Water
Struc­
run by Fences. Works tures per
Of
and
Engines. Engines
Mile
Telegraph. Operated.

Total.
56
41
86
52
39
00
31
93
50
27

$ 9 1 2 ,1 4 6
1 .0 4 6 ,5 8 4
1 ,4 4 3 ,2 9 3
1 ,3 0 5 ,9 5 3
1,1 5 2 .5 4 1
2 ,0 1 2 ,9 4 2
1 .9 7 5 ,0 4 0
1,6 4 3 ,7 4 4
1 ,8 5 0 .6 7 8
1 ,8 8 2 ,1 4 0

40
41
38
94
39
17
70
00
62
64

4 .8 4 4 .5 6 1
4 .5 9 0 .7 4 9
5 ,5 4 0 ,7 5 9
5 ,5 7 9 ,7 2 0
6 ,0 1 7 ,3 0 6
5 ,8 5 6 ,7 8 0
6 ,3 8 0 ,0 8 4
6 ,5 5 8 ,0 9 6
6 ,1 3 4 ,5 3 0
6 ,0 4 9 ,9 9 3

1 8.83c
2 2 .8 0 c
2 6 .0 5 c
2 3 .4 1 c
2 4 .1 4 c
3 4 .3 7 c
3 0 .9 6 c
2 5.07c
30 .1 7 c
3 1 ,l i e

$ 5 ,8 3 0
1,620
2 ,5 1 0
2 ,1 7 7
561
1 ,353
1 0,498
4 ,5 6 3
2 ,8 5 3
7 ,3 0 8

27
99
71
24
63
54
13
55
40
06

$ 6 5,5 78
90 ,9 6 5
129,944
120,290
176,812
178,043
23 6,0 07
2 5 3,4 62
188,978
20 2,0 83

44
01
90
73
64
02
70
06
71
20

S 930 95
1,0 4 0 04
1 ,3 5 5 67
1 ,217 63
1 ,3 5 3 75
1 .8 1 0 .0 6
1,7 9 2 81
1 ,4 6 5 55
1 ,4 9 0 17
1 ,525 32

MAINTENANCE OF EQUIPMENT, JULY l 1900 TO JUNE 30 1910.

R E P A IR S A N D R E N E W A L S.
Years
ended
June 30.

[VOL. LXXXX1

Passenger Cars.

Freight Cars.

No. Amount.

No.

Amount.

Engine
Mile.

76
79
80
80
82
82
82
80
79
79

3299
3333
3333
3333
3333
3333
3333
2897
2695
2569

■ S219.3.8S 44
303,568 56
373,332 67
447.784 40
476,513 40
585.415 10
797,916 46
803,393 72
901,105 20
1,010316 38

3 49-lOOc
4 96-lOOc
4 69-lOOc
5 66-lOOc
5 52-100c
5 54-lOOc
5 96-lOOc
7 32-lOOc
9 47-100c
10 77-lOOc

$43,954 02
63,948 32
69.379 08
44,068 74
57,419 09
46.447 50
76,324 07
88,258 94
87,879 18
104,451 17

Per
Passenger
Car
Mile.
67-lOOc
89-lOOc
91-lOOc
55-t00c
65-lOOc
5 -100c
76-100C
85-100c
81-lOOc
99-lOOc

M A IN T E N A N C E OF
EQ U IPM EN T.
Per
Per Mile of
Freight
Road Oper.
Car
Total.
(excluding
MUe.
Marine
Equip’l).
S15.748
6)
44-lOOc
$29,417 64 $ 036 00 $ 501.740 57 S 474 02
56-lOOc 14,839 65 30,787 34 2,188 74 642,921 05
584 97
65-lOOc 21,511 51 37.988 12 1,700 13 703,906 83
655 75
86-lOOc 27.860 44 50,844 43 2,782 46 889.228 54
755 01
76-100c 18,440 17 50.065 09 6,184 04 940,711 35
776
21
91-lOOc 25,910 89 53,114 47
854 88
65 1,037.645 79
1 10-lOOc 31,764 47 59,233 63 2,213
8,005
26
1,353,323
66
1,085
69
1 10-lOOc 24,039 78 45,566 59 3,785 97
43 1,110 45
1 28-lOOc 28,761 55 45,731 26 20,943 89 1,444,762
1,665,463 69 1,190 80
1 17-lOOc 26,932 18 47,435 80 1,710 79 *1,842,172 77 1,342 18
MalnteShop,
Machinery
and
Tools.

Other
Equipment Mainte­
nance
Expenses,
Including Marine
Superin­ Equipment.
tendence.

• Includes c u rren t depreciation on equ ipm en t.
L o s A n g e le s G as & E lectric C orp ora tion . — Additional slstln g of 1,000 Class G. L. A. I’enn . H U . sta n d a rd steel gondola coal cars.
T ru st Co., P h lla ., tru s te e .— V. 81, p. 017.
Bonds Offered—Earnings, &c.—N. W. Harris & Co., New G irard
New York Bank Note Co.—New Suit. —The company on
York, Boston, &c., E. H . Rollins & Sons, Boston, New York, Oct.
29 began a new suit to recover $5,000,000 alleged dam­
&c., and the Harris Trust & Savings Bank, Chicago, are

against the New York Stock Exchange, its 1,100 mem­
offering an additional $500,000 ‘Hirst and refunding mort­ ages
bers
and the American Bank Note Co.
gage’' 5% gold bonds, dated Sept. 1 1909.
T he new com plaint Is Identical w ith th e old co m plaint, w hich w as dis­

C on d en sed

L etter from

P re s . YV. 15. C line,

L os A n g e le s , O c t . 1 1910.

T he physical p ro p e rty , w ith o u t allow ance for franchise or good-w ill, Is
conservatively valued a t over $11,800,000, th u s show ing a n e q u ity of over
$5,801,000 above th e $5,939,000 o u tsta n d in g bonds.
C apitalization.
P ref. sto ck (1st pref., $4,000,000; 2d pref., $0,000,000), Issued
None
C om m on sto ck , a u th o rized , $20,000,000; issued .
$7,250,000
F irst a n d refunding 5s, a u th o rized , $15,000,000: Issu e d ............ 2,107,000
U nderlying (closed m ortgages); I.os Angeles L ighting Co. 5s, $944.
000; I.os Angeles E lectric Co. 5s, $186,000; Los Angeles lia s &
E lectric Co. 5s, $2,012,000_____________________ _______________ 3,442,000
Of the 1st ft ref. 5s, $225,000 are held In sinking funds of c o n stitu e n t cos.
a n d $61,000 have been canceled by o p eratio n of sinking fund; $3,442,000
a rc reserved to retire th e un derlying bonds an d $9,000,000 are Issuable for
n o t exceeding 75% of cost of p erm an en t extensions an d a d d itio n s; b u t
only w hen net earnings (after taxes) shall have been a t least 1 L tim es the
a n n u al interest charge, Including bonds applied for.
E arnings [or Calendar Years 1907 to 1909 and 8 M os. ending A ug. 31 1910.
1907.
1908.
1909. IS M os.) 1910.
Gross earnings
$2,530,284 $2,615,909 $2,910,811 $2,135,575
N et (after taxes) .
907,102 1,003,675 1,207,632
859,694
E ight m o n th s' in terest charge, including $500,000 bonds now ofT’ed 197,967
P roperty.— Real e sta te valu ed a t $1,116,500. Gas plan ts, rate d can acity
of 23,100,000 cu. ft. in 24 hours; gas holders, com bined cap acity 8,122,183
eu. ft.: 853 m iles of m ains; 81,137 gas m etres. D uring th e llrst 8 m o nth s
of 1910 1,802,965,000 cu. ft. of gas w ere sold; price 80 cl:s. per 1,000 ft.
E lectric p la n t 6,500 h .n . In boilers 17,150 h .p ., In steam engines a n d tu r ­
bines and 17,337 h .p . In electrical a p p a ra tu s, serving 22,949 consum ers on
O ct. 1 1010 from 1,853 m iles of o v erh ead m ain w ire a n d 14.95 m iles of
un dergro un d conduits; to ta l connected load a b o u t 41,850 h .p .
M etres Installed on J a n . I 1901 to J a n 1 1910 an t Oct. 1 1910.
Oct. 1 '10. J a n . 1 '10. 1909.
1908. 1907. 1006. 1905. 1004.
G as. 81,137 74,353 62,605 59,800 54,061 44,439 34,849 27,576
Elec .22,949 20,844 17,414 15,683 13,258 10,134 7,953 6,158
Sec also V. 90, p. 1174.

M a ssach u setts Coal & P o w e r C o.— Reorganization Com­
mittee.—The shareholders at a meeting in Boston on Nov. 2

appointed the following committee to consider what steps
should be taken to conserve the property:

G uy R . Collier, Jo h n A. B rett, U ollin T . L incoln, Jo s. A. H aley, J . N.
T erry and W illiam G. H oler.— V. 91, p. 1103.
M on treal L ig h t, H ea t & P o w e r C o.—

Settlement with City.—

The company and the city have settled their differences
with regard to the charges for a lighting service furnished
the city during a period of 22 months.

T he com pany accepts th e price of $72 70 per year per a rc lam p , the city
assu m ing in ad d itio n all th e costs of the case. T he am o u n t paid over by
the city aggregates so m ething over $240,000 for lighting service, in ad d itio n
to said costs. T he price agreed upon is the sam e llgure as lixed in the aw ard
to the com pany of a 10-years’ ligh ting c o n tra c t m ade a few w eeks ago.
T he co. had br n ig h t su it for a b o u t $90 per lam p per y e a r.— V. 90, p. 1553.

—Acquisition .—This Standard Oil
subsidiary, it is reported, has taken o\rer the Franklin (Pa.)
Natural Gas Co., which supplies gas to the towns of Franklin
and Rocky Grove and vicinity.
N ational F u el G as C o .

T he $242,000 sto ck (par $50)
com pany on th e basis of $150
p an y, valued a t $200 a sh are,
m erger having been p ractically

missed last w eek, w itli Hie exception th a t th e d efen dants are described as
“ citizen s" Instead of “ resid e n ts” of different S la te s. 'll,c com pany a p ­
plied to Ju dge Hough for an a m e n d m e n t of the old c o m plaint, bu t this w as
refused unless th e com p an y w ould a b an d o n Its case ag ain st the Individual
Stock E xchange m em b ers.— V . 91, p. 1103, 467.

Northern Coal & Coke Co. of Kentucky.— Sale.—See East­
ern Kentucky Coal Lands Corp. above.—V. 84, p. 1056.
Railway Steel Spring Co.—New Officers.—E. F. Fitz­
patrick, Vice-President of (lie company, has been elected
President, to succeed W. II. Silverthorn, deceased. Scott
Hayes, chief of sales department, succeeds Mr. Fitzpatrick
as Vice-President.—Y. 91, p. 522.
Ray Consolidated Copper Co.—See “Annual Reports.”
Convertible Bonds.—The stockholders will vote Nov. 16:
(1) On issuing $3,000,000 10-vear 6% 1st M. sinking fund
convertible gold bonds bearing date Jan. 1 1911, the entire
issue of which has been underwritten by a syndicate headed
by Hayden, Stone & Co.; and (2) on increasing the capital
stock from $12,000,000 to $14,000,000 by the authorization
of 200,000 additional shares of $10 each, 150,000 of which
are to be set aside for the conversion of the bonds above re­
ferred to, leaving 50,000 unissued available for future use.
InT ahe circular
dated Oct. 25 President Sherwood Aldrich says:
progress m ade In the dev elo pm en t an d equ ipm en t of th e com p an y ’s

properties Is fully set fo rth In th e second an n u al ropo rt, recently se n t you.
T he developm ent of su ch eno rm ous ore reserves lues satislled th e m an ag e­
m ent of th e w isdom of prov idin g a red uction p la n t, sm elter a n d electrical
pow er p lan t of m uch larger cap a city th a n was originally planned, a n d in o r­
der to m eet th e financial req uirem ents of this larger operation and to pro ­
vide am ple w orking cap ital, the Issue of bonds has been determ ined upon.
T he en tire au th o rized Issue of sto ck a t present Is $ t 2 , 0 0 0 ,0 0 0 , all of w hich
Is Issued and o u tsta n d in g save less than 3,000 shares, w hich arc held for
th e exchange of the rem aining o u tsta n d in g sto ck of the Gila C opper Co.
If the proposed bond Issue be du ly au th o rized , each sto ck ho lder of record
as of N ov. 5 1910 will be en titled to subscribe on or before Dec. 1 0 , on the
com pany's w a rran ts, for his pro ra ta share of said bonds on th e basis of
one $500 bond for each 200 sh ares of sto ck . T he said bonds will be con­
vertible a t the option of the holder a fte r Ja n . I 1012 up to a n d Including
Ja n . 1 1917 Into sto ck a t $20 per share (par $ 10), a n d be su b ject to red em p ­
tion a t the option of th e com pany on a n y In terest d a y on anil a fte r three
years from th eir d a te a t 110% , plu saccrucd Interest .u p o n 90 d a y s' previous
notice. Subscriptions are pay ab le 25% Dee. to 1910, 25'% F eb. 15 1911
a n d 50% April l 1911. Said p ay m en ts to bear in terest a t th e rate of 0%
per an n u m . S u bscriptions from foreign stockholders will he received a t
th e G u a ra n ty T ru st Co., 33 L om bard S t., L ondon, E. p .. E ngland. Said
bonds are to be secured bv a 1st m tirc. noon all the- rcal.cstn te an d m ining
p ro p e rty . New Y o rk o fllc e , 111 B roadw ay. V. 90, p. 1300.

Richelieu & Ontario Navigation Co., Montreal.—Dividend
Rate Restored to 6 %•—The directors on Oct. 2$ declared a
quarterly dividend of i\4% , payable Dec. 1 to shareholders

of record Nov. 18, thus increasing the annual rate from 5%
to 6%, the rate maintained for many years prior to 1904.
(V.For79,the p.calen1720.)
d ar year 19t0 th e n et earnings are expeeteil to a m o u n t to

will, it Is said, be tak en over by th e N ational
per $50 sh are, sto ck of th e N ational com ­
being given In exchange, nil details of the betw een I t a n d 12% on the $3,132,009 cap ital sto ck , 7'he div idend s paid
com pleted .— V. 86, p. 984,
agg regated 3% In 1901; none In 1905; 1 M % In 1906 a n d 5% yearly 1907 to
ept. 1910 Incl. T he directo rs have decided to order an o th e r steel bo at.
N ew P h iladelphia (O .) W a te r C o .— Bonds Called.—All of S285
th ,and w ith tw in screw s, for use on th e Saguenay ro u te, d e­
the 30-year gold bonds issued under mortgage to the Farm­ liveryft. toInbele nmgade
M ay 1 1011.-—V. 91, p. 522; V. 90, p . 008.

ers’ Loan & Trust Co., trustee, dated June 1 1901, hai'e been
called for payment Dee. 13 1910.—V. 91, p. 720.
►IN ew R iv e r & P o ca h o n ta s C on solid a ted Coal C o.— Guaran­
teed Equipment Bonds Offered.— Henry & West, Philadelphia,
on Oct. 28 offered at par and int. the unsold portion (less than
890,000) of an issue of $700,000 5% serial equipment (car
trust) bonds, tax-free in Pennsylvania.

D ated O ct. 1 1910; m a tu rin g $70,000 each O ct. 1 to O ct. I 1920, inrl.
G uaranteed., principal arid In terest, by Ilerw lnd-W hlte Coal M ining Co.
P a r $1,000. C allag e on a n d a fte r O ct. 1 1911 a t 102 >a. In t, A. & O. a t
■ office of H enry & W est. A llrst lien on equ ipm en t costing $836,000, con



Rockingham Power Co., North Carolina.—$gh\Nov 23.—
The property is again advertised for sale by Adrian II.
Muller & Son, auctioneers, Nos. 14 and 16 Vpsey St., N. V.
City. Date of sale Nov. 23. The upset price has been re­
duced from $1,000,000 to $750,000. I). IJL Thomas is Secre­
tary of the bondholders’ committee, No. 31 Fine St., N. Y.
Compare V. 91; p. 657, 1028.
.
St. Louis Car Co.—Plan.—The creditors" have received a
letter signed by John I. Beggs, David May.,,M. Shoenberg
and George J. Ivobusch, President, saying:

tfov. 5 1910.)

TH E CH RONICLE

An a rran g em en t has b^en m ade dep en dent upon receiving th e consent
of th e credito rs for rc-est.ib!lshlng th e S t. L ouis C ar Co a n d enabling It a t
once to resum e activ e business op erations.
U nd er this arra n g e m en t $850,000 of new m oney Is to be p u t In by Jo h n I.
Beggs. D. M ay a n d M. S hoenberg and associates. F or this th ey are to re­
ceive 7% cu m ulative pref. stock a t par.
T he co-operation of th e credito rs Is essential to carrying o u t this plan.
It being necessary th a t th ey ta k e 7% cum ulative pref. stock for tlielr claim s
a t th e face or principal sum of th eir claim s. T he pref. stock Issued to the
creditors will stan d on th e sam e footing as th e pref. stock Issued for th e new
m oney a t par.
T he resu lt of th e a rran g em en t will be to discharge all the Indebtedness
of th e com pany, except $1,000,000 of bonds a n d a m ortgage on th e a u to ­
m obile p la n t of $40,000, a n d leave $400,000 cash for w orking cap ital.
M essrs. 13eggs, M ay and S hoenberg will be In control of th e com pany,
and M r. Beggs will be P resident a n d G eneral M anager. M essrs. Beggs,
M ay and S hoenberg show th eir faith In th e fu tu re of th e com pany by their
w illingness to p u t In th e ir m oney for pref. stock on th e sam e footing w ith
like stock for th e claim s of th e creditors.
T he tim e from w hich dividends on th e pref. stock shall begin to accrue
Is Ja n . 1 1911. Please send In a t once a sta te m e n t of th e principal sum of
your claim and your assent to tak e pref. sto ck th erefo r to M essrs. Beggs,
M ay & Shoenberg, 310 S ecurity B ldg., S t. Louis, Mo. As th e consum m a­
tion of this plan depends on creditors consenting Im m ediately, please sign
th e Inclosed arid retu rn not la ter th an N ov. 10.
[The $6,000,000 of a u th . cap ital sto ck Is equally div ided betw een 7%
cum ulative pref. a n d com m on: par of shares, $100. P ref. stock to the
am o u n t of $1,600,000, w hich Is now in th e trea su ry , will be tran sferred to
th e new Investors a n d to creditors a t Its face valu e. T he creditors will re­
ceive a b o u t $600,000 of this stock. T he p la n t in norm al op eration em ploys
betw een 3,000 and 4,000 m en and has an o u tp u t valued a t betw een $7,000,­
000 a n d $8,000,000 a y e a r.— Ed.] C om pare V. 88, p. 162.

1265

The (EJmmjemal Jkiracs.
CO M

...
# Friday Night, Nov. 4 1910.
Abundant crops make for increasingly favorable conditions
and more seasonable weather tends to quicken trade in
pretty much all the great avenues of industry. On the
whole the feeling in the country is hopeful, partly, it is
supposed, because politics have a less menacing appearance.

STO C K S O F M E R C H A N D IS E AT
« ,- T1B ra z„il.. ------- . ----- --------------N2,261,200
ov. 1 1910.
ColTco,
CoiTcc, J a v a _____________ _
,\7 $ 7 $
Collee, o th e r------------------------------ I I II 292)019
S u g a r ------------------------------------34,650
...........................
6,137
U anlla h e m p -------------------------------------2,502
Sisal h e m p ______________________________
1,005
Flour, bb ls. a n d sa c k s______________I 09! 100

N E W Y_______
ORK
Oct. 1 1910. Alov. 1 1909.
2,251,107
3,052,207
26.341
68,450
271,384
420,263
31,300
30,000
8,000
17,500
58,973
112,522
2,0 0 0
7,685
982
1,400
62,600
'6,800

LARD has been only moderately active in spite of a,
shaip decline, prices working down towards a new-crop basis.a
Prune Western 12.35c., Middle Western 12@12>^c., City
steam 11.90c. Refined has been weaker but inactive.
Continent 12.60c., South American 13.25c., Brazil, in kegs,
14.2oc. 1he local speculative market has been quiet witli
lower prices. Ihe market in the West has been fairly
active, with final prices slightly lower after some irregularity.
1criods
of easiness
in the hog and corn markets led to selling
by
the smaller
packers.

Sunday Creek Co.—indictment—Debentures.—See Hocking
Valley Ry. under railroads above.—V. 90, p. 1618.
Taber Mill, New Bedford, Mass.—Bonds Called.—The out­
standing bonds, consisting of nine bonds of $1,000 and seven
bonds of $500 each, have been called for payment at 105 and
interest on Dec. 1 at the New Bedford Safe Deposit <fc Trust D A IL Y C LO SIN G P R IC E S O F L A R D F U T U R E S IN N EW YORK
Co., trustee.
..
, , ,,
S a t.
M on . Tucs. Wed. 'Hairs
F ri
ber d e liv ery ----- 11.85
11.91 11.90
11.84
Union Oil Co., Los Angeles, Cal .— Dividend Bate Increased JaMN ovem
n u a ry d e liv ery ---------10.55
10.61
. I
. O
ay
d
e
liv
ery
-------------10.10
10.12
10.10
10.15
10.17
1(E15
from 0 to 7.2%.—President Lyinan Stewart, in a circular D A IL Y C LO SIN G P R IC E S O F LA R D F U T U R E S IN CHICAGO
accompanying the monthly dividend of 50 cts. a share paid __ , , ,,
_ S at.
M on. Tues. Wed. Thurs. F ri.
Oct. 20 (dividend No. 171), states that the increased dividend N ovem ber d e live ryery..........
-----11.50
11.47% 11.50
11.45 11.45
10.15
10.22% 10.25
10.25 10.25 10-25
recently decided upon by the directors will go into effect JaMayn u adrye livd eeryliv.....................9.07%
9.70
9.72%
9.75
on Nov. 20, being 00 cents a share a month, or 7.2% per PORK has been easier with light trade.9.75 Mess9.7 7%
clear
annum, contrasting with 6% per annum, the rate estab­ $21 50@$22 50, family $25. Beef has been quiet $20,
at former
lished in Oct. 1908. President Stewart says:
T he generally im proved conditions of the oil In du stry of this coast were figures. Mess $15 50@$16, packet $17@$17 50, family
such as to cause our directors to feel w arran ted In tlxlng this early d a te for $19 50@$20, extra India mess $30 50. Cut meats have
the Increase In the c o m p an y ’s dividends. [The dividend disbursem en ts to been quiet and nominal, owing to scarcity. Pickled hams,
and Incl. O ct. 20 1910 are said to have aggregated $7,371,563 -Ed.]
regular, 13@13>£c., pickled bellies, clear, 16@19c., pickled
Bonds.—The shareholders will vote Dec. 8 on authorizing ribs
16@17c. Tallow has been quiet and steady; City 7%c.
the proposed $25,000,000 5% 25-year bond issue.
Steannes have been weak and dull; oleo 11 @11 i^c., lard 13c.
Oil Status.—In his circular letter, Pres. Stewart says:
Butter has advanced, owing to scarcity of choice grades;
T he oil price w ar now being w aged betw een th e S ta n d ard OH Co. a n d the
extras 31@31)^c. Cheese firms and quiet;
Shell T radin g & T ra n sp o rta tio n Co. (the n ex t largest oil com pany In the creamery
world) for th e m ark ets of E urope a n d Asia should cause you no an x iety . State, whole milk, colored, average fancy, 15c. Eggs
T h a t w ar Is on refined prod ucts, w hile the bulk of C alifornia oil—a p p ro x i­ strong on light supplies of best grades; Western firsts 27@30c.
m ately 80 % — Is sold for steam fuel a n d gas purposes, and Is practically all
OIL. Linseed has been quiet at previous prices; City, raw,
consum ed on the Pacific C oast. T here is no o th er fuel oil In the w orld
near enough to C alifornia to d istu rb our m ark et.
American seed, 97@98c.; boiled, 98@99c.; Calcutta, raw.
It has been com puted th a t the petroleum prod uction of th e en tire w orld $1 03. Cottonseed has been irregular; winter $8@$8 10;
for 1909 am o u n ted to 304,000,000 barrels, an d It Is estim ated th a t the
production of C alifornia alone for 1910 will exceed 25% of this am o u n t. summer white 7 55@$8 30. Lard higher; prime $1 05@
— V. 91, p. 877.
15; No. 1 extra 61@63c. Cocoanut scarce and strong;
United Fruit Co.—Listed.—The New York Stock Exchange $1
Ceylon
9J^@10c. Olive steady at 90@95c. Corn active
has authorized to be listed on and after Nov. 4 the $2,459,900 at a decline
to 6.85@6.90c. Cod scarce and firm; domestic
additional stock which was offered to stockholders of record
Newfoundland 45@47c.
on Oct. 24 last for subscription at par, the stockholders 42@44c.,^
COFFEE on the spot has been quiet, with holders asking
having the right to apply the 10% cash dividend to be dis­ higher
prices, owing, to firmer Brazilian advices and bullish
bursed Nov. 4 in payment for the same. Compare V 9> statistics;
No. 7, ll@ll>gc.; Santos No. 4, ll%@12c.
p. 731.
' Mild gradesRiohave
been quiet and firm; fair to good Cucuta
Income Account.—For 10 months ending July 31 1910:
12%@ l‘2 %c. The speculative market has been active,
N et earnin gs_______ ______$5,031,524 T o t. su rp . S ept. 30 1909.$12,006,804 prices advancing after temporary weakness. The latter was
In te reM||
st and m iscellaneous ---------------295,347
S urplus Ju ly 31 1910____$15,925,683 due to liquidation prompted by discouraging cables. The
T otal n e t Incom e______ $5,326,871 E x tra d lv . (10% ) paid
later was partly in keeping with stronger European
D ividends d eclared ____ _ 1,407,992 N ov. 15 1909_______ _ 2,134,000 advance
markets
and
firmer South American advices, with predictions
Surplus for 9 m o n th s. .$3,918,879 B alance, su rp lu s. . . $13,791,083 of bullish statistics. Closing prices were as follows:
— V. 91, p. 878, 731.
N ov em ber__ . - 8 .8 0 c. M a rc h ____________9.09c. Ju ly --------------------9.10c.
ber
.9 0 c . A p r il--------------- 9.09c. A u g u s t__________ 9.10c.
White River Light & Power Co., Noblesville, Ind. -Sale JaD ecem
n u a ry ____ -8
-8 .9 7 c.
__9.10c. S e p te m b e r..............9.09c.
___ --9.03C . JMuayn e ----------Dec. 19.—Judge Vestal at Noblesville on Oct. 26, upon peti­ F ebruary
--------------------9.10c. O c to b e r _________ 9.09c.
tion filed by Jones Gaar of Richmond, Did., ordered the sale SUGAR, -Quiet at a slight decline; centrifugal,
of the property at auction on Dec. 19 by receiver Ralph tet,, 3.80c.;, muscovado, 89-degrees test, 3.30c.; 96-degrees
molasses,
Beaton of Columbus, Ohio. Upset price $190,000.
89-degrees test, 3.05c. There have been fair withdrawals
T he p etitio n for the sale, It is rep orted , show s the financial condition of of refined, but little new business, notwithstanding a decline;
th e com pany to be as follows: O u tstan d in g bonds, $143,700; pref. sto ck ,
$33,400; notes secured by bonds, $27,276: Interest due on bonds a n d unpaid, granulated 4.60c. Teas quiet and firm. Spicesquietwithde$1,178; unsecured claim s, $ , . C om pare V. 91, p. 658.
mand fair at steady prices. Wool firmer and rather less active.
PETROLEUM.—Refined is steady with better domestic
foreign demand. Naphtha is active and firm. Re­
—The New York Stock Exchange firm of Slade & Boyer and
fined, barrels, 7.40c.; bulk, 3.90c.; cases, 8.90c. Gasoline,
has been dissolved and the new firm of Boyer, Griswold & 80
degrees, in 100-gallon drums, 18%c.; drums $8 50 extra.
Co. has been formed to take over the business. The firm Naphtha,
to 76 degrees, in 100-gallon drums, 16%c.;
will have offices, as formerly, at 71 Broadway, where Geo. W. drums $8 5073extra.
Spirits of turpentine are slightly higher,
Halstead will remain as office manager. The branch offices with fair jobbing inquiry
Rosins have been
a t-12 East 42d St. and 154 Nassau St., Tribune Bldg., will quiet and steady; common atto 80@,80%c.
good strained $6 30.
also be continued under the same management by the new TOBACCO.—Activity is confined
to
buying
of Wisconsin
firm.
as the 1910 crop is short and of generally unsatis­
—John J. Watson Jr. and Reginald W. Pressprich have tobacco,
quality. Otherwise the market is dull, a condition
formed a co-partnership under the firm name of Watson & factory
growing out of the poor business done by packers
Pressprich, to conduct a general investment business in gov­ naturally
last month. The feeling as to the future, however, is more
ernment, State, municipal, railroad and other securities. hopeful,
quite generally agreed that a much better
The new firm has opened elegant offices on the ground business itwillbeing
be passing, and at firm prices, as manu­
floor of the Mutual Life Bldg., 36 Nassau St. Mr. Watson facturers havesoon
been busy and drawing their stocks down to
was formerly Treasurer of the United States Rubber Co., small proportions.
while Mr. Pressprich has been identified with the bond busi­ COPPER.—Prices show irregular changes. Almost noth­
ness for years, and was at one time with Win. A. Read & ing has been sold to domestic consumers, but good export
Co. and more recently a member of the firm of Rhoades & Co. sales
made at an advance. Lake 12%@12%c., electro­
—Attention is called to the offering by Redmond & Co. lytic were
12.05@12.70c., casting 12.40@12^c. Spelter has
of Duluth Missabe & Northern general mortgage 5% bonds. been
strong at 5.80@5.90c. Tin has been dull; spot 36%c.
This is a very high-grade bond and is offered at a price to Iron has
been quiet and steady; No. 1 Northern $15 75@$16;
yield about 4%%. Very full particulars will be found in the No. 2 Southern
$15 25@$15 75. A better feeling is noted
advertisement on another page.
in steel circles, especially regarding the future.



10 6

1 0 .6 6

11 8 5
1 0 .0 5

1 1 7 0
10 6

1 1 3 0

11 0 0 0

T H E CH RO NICLE

1266

COTTON.
F r id a y N ig h t, N ovem b er

4 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
381,530 bales, against 390,831 bales last week and 451,952
bales the previous week, making the total receipts since
Sept. 1 1910 2,900,812 bales, against 3,228,329 bales
for the same period of 1909, showing a decrease since Sept. 1
1910 of 327,517 bales.
Receipts at—
Sa t. M o n . T ues. W ed.
G a lv e sto n ______ 17,231 17,562 33,615 21,783
P o rt A rth u r____ 9,887
T exas C ity, & c_.
18,482
New O rleans____ 8,627 19,127 4,217 11,013
786 2,413 1,702
M obile _________ 1,438
P e n sa c o la ............. 8,615
109
261
Jackso nv ille, &c.
S a v a n n a h _____ _ 12,266 8,842 12,845 8,327
__
8,000
B ru n s w ic k _____
C h a rle s to n _____ 2,043 1,810 2,060 1,945
92 __
G e o rg e to w n -----W ilm in g to n ------ 3,372 3,685 9,623 2,106
N o rfo lk ------------- 4,459 5,162 8,008 5,924
—
—
—
N ’p o rt N ews, &c.
2
6
B o s to n _________
7
3,100
B altim o re . ____
—
—
—
—
P h ilad elp h ia -----T o tals th is w eek . 67,945 96,823 72,984 52,800

T h urs. F ri. Total.
14,897 13,873 118,961
9,887
__ 18,482
12,843 6,188 62,015
2,552 1,164 10,055
__ __ 8,615
176
546
7,460 10,185 59,925
__ 1,250 9,250
2,157 3,426 13,441
. ____
__
92
5,551 5,675 30,012
6,242 3,177 32,972
—
487
487
122
4
103
3,568 6,668
—
—
—
51,706 49,272 381,530

The following shows the week’s total receipts, the total
since Sept. 1 1910, and the stocks to-night, compared with
last year:
Receipts to
N o v. 4.
G alv esto n .............
C orpus C hrlstl,& c
New O rlean s-----G ulfport -----------M o b ile __________
P en sa c o la ________
Jackso nv ille, & c.
S a v a n n a h _____ B ru n sw ick ___ .
C h a rle sto n ------ .
G eorgetow n _ - .
W ilm ington ____
N orfo lk_______ .
N ’po rt N ew s, & c.
New Y o rk ______
B o s to n __________
B a ltim o re -------- .
P h ila d e lp h ia -----T o ta l__________

1909.
T h is Since Sep
week. 1 1900.
130,569 1,054,769
5,848 30,548
3,878 15,302
67,724 387,840
7,104
1,477
12,611 102,478
18,493 47,913
3,458
11,147
79,053 846,344
8,900 136,314
12,320 139,851
454
100
21,243 203,736
30,889 226,515
2,109
346
1,347
33
1,160
434
4,072 13,041
—
351
—
—
381,530 2,900,812 401,448 3,228,329
1910.
T h is Since Sep
week. 1 1910.
118,961 1,228,497
9,887 32,104
18,482 79,847
62,015 267,135
10,055 80,424
8,615 12,322
5,451
546
59,925 612,808
9,250 61,646
13,441 126,306
92
376
30,012 192,383
32,972 174,983
487
1,325
1,295
1,742
122
6,668 22,108

Stock.
1910.
146,285

1009.
198,800

89,089
39,415

179,293
272
35,874

126,762
3,354
37,940
_______________
38,191
24,348
107,844
1,167
18,194
2,775
633,367

229,477
20,627
40,589
_______________
26,579
36,925
110,048
2,124
6,981
3,010
890,599

—

—

In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
Receipts at— 1910.
1909.
1908.
1907.
1906.
1005.
G a lv e sto n ___ 118,961 130,569 207,545 98,308 150,011 113,487
2,064
P t. A rth u r, &c. 28,369
9,716
2,882
9,266
1,269
62,015 67,734 98,459 83,934 100,250 78,495
N ew O rleans.
15,410 13,092
10,055 12,611
17,005 16,211
M obile .............
59,025 79,053 73,501
77,089 78,661 74 685
S av an n ah —
4,692
4,376
9,048
3,976
8,900
9,250
B run sw ick___
7,037 11,123
C harleston, &c 13,533 12,420 10,336 13,658
17,040
W ilm in g to n .. 30,012 21,243 21,155 18,583 19,152 36,491
N orfolk _ - - - 32,972 30,889 30,915 26,104 26,072
874
487
1,847
346
102
487
N ’p o rt N .,& c.
9,625 12,912
15,951 27,967 13,533 17,402
All o th e rs-----T o tal this w k . 381,530 401,448 484,481 365,918 414,010 364,955
Since S ept. 1 . 2,900,812 3,228,329 3.079,595 2,267,423 3,047,263 2,937.318

The exports for the week ending this evening reach a total
of 379,229 bales, of which 181,4§6 were to Great Britain,
45,356 to France and 152,387 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910.

Week ending Nov. 4 1910. From Sept. 1 1910 to — Now. 4 1910.
Exported to—
Exported to—
Conti­
Conti­
Great
I Great \
Brilaln.\Ffnce. nent. Toted. B ritain. Franec. nent.
Total.
G alveston------ 86,297 21,072 62,173 169,542 435,139 141,464 328,432 905,035
__ 9,476 9,476
8,411 23,753 32,164
P ort A rth u r.-.1
1,978 67,846
Texas City, Ac. 13,965 _ . __ 13,965 65,868
7 36.428 121,927 14’,894 48,252 185.073
New Orleans. . 35,888 533
_ 3,114! 7,802 6,105 5,949 19,856
M obile..........—1 __ 3,114
4,652 12,422
Pensacola___ ___ 3,963 4,662 8,615j 3,807 3,963
___
. . ______
Fernandlna__ J ! ___ ___ ___
Savannah ___ 1 17,828 6,284 30,030 54,162 lbV,099 39,871 129,394 270,364
11,392 11,392 18,048
26,958 45,006
Brunswick___
4,900 6,000 9,666 39,700 55,600
4",566
Charleston----W ilm ingto n...1 14,243 ___ 20,518 34.761, 69,288 ___ 77,587 146,875
__ ____ ______ ___
56
N orfolk............I __ __
56
___ ______ ___ ______ ______
_ _
Newport News.
43,627 73,220 251,654
New Y ork___ 1 12,574 5,490 2,713 20,777 134,807
_ 2,440 33,412
691
102 793 30,972
Boston ______
2,105 2,105 6,288 2,550 25,161 33,999
B altim ore-----__
__
_
___ 17,802 —
1,400 19,202
Philadelphia. . __
_ ____ _ _ ___ ___
______
Portland, M e.. ___ __
___ 10,139 10,139
San Francisco. __ __ 6,149 6,149 ___
7,392
7,392
Seattle ______ ___ ___ 2,300 2,300 ______
____ ___
1,757
1,757
T acom a............
750 750
___ ______ ______
Portland, O re. ___ __ __ __ _ ______ —
—
—
___ ___ : --------P em b in a.......... ___ —
—
—
D etroit.............. — —
............ ............
............ —
T o ta l............ 181,486'45,356154,387 379,2291,018,847|270,785 808,220*2,097,852
Total 1900-.-- 144,389!49,929!l39,132333,450 835,787:430,0531 935.2652.201,105
Exports
from—

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.




N o v. 4 at—
N ew O rleans. .
G a lv e s to n ___
S av an n ah * . . .
C h arleston *__
M obile *______
N orfolk *_____
N ew Y o rk ___
O ther p o r ts ...
T o ta l 1910..
T o tal 1 9 0 9 ..
T o ta l 1908..
* E stim a te d .

[VOL. LXXXXI.

On Shipboard, N ot Cleared fo r—
Great
Ger­ Other Coast­
B ritain. France m any. Foreign wise. Total.
5,173 4,106 8,761 10,566
28,606
24,842 8,934 14,166 19,386 4,700 72,028
10,000
2,000 15.000
1,500 5.000 33.500
6,000
1.000 10,000
3,000
3,000
7,500
2,000
2,500
15,000 15.000
500 " 8 0 0 2,200
V,666
10.500
1,000 17.000
10,000
4,000
32.000
66,015 16,540 61,227 37,652 27,700 20 9,i3 4
50,939 29,579 47,830 25,176 33,506 187,039
78,929 27,101 61,096 74,672 25,486 267,284

Leaving
Stock.
60,483
74,257
93,262
27,940­
31,915
19,348
97,344
31,684
426,233.
703,560'
552,296-

Speculation in cotton for future delivery has been moder­
ately active at irregular prices, alternately rising and falling
sharply, partly under the influence of conflicting crop esti­
mates ranging from 11,800,000 bales to 13,000,000 bales.
Net changes for the week indicate an advance. Also, therehas been heavy and persistent selling part of the time by
large spot interests,[and not a little of the crop news, espec­
ially early in the week, was of a favorable sort. There is
an impression among many that the crop this season has been
considerably under-estimated. At one time guesses on the
total yield were in many cases 11,000,000 to 11,500,000 bales,
some even hazarding the conjecture that it might be below
11,000,000; but the favorable weather during September
and October has changed the ideas of a great majority of the
trade, despite the fact that the movement of the crop hasbeen comparatively small. The explanation of the rela­
tively light receipts has been that the season was late, and.
also that in all probability not a little cotton was being held
back. It has been dinned into the ears of the South for
many weeks past that prices before the close of the season are
destined to reach a very much higher level, and as the South,
after several seasons of good prices, is more prosperous than,
formerly, it is naturally believed to be in a better position
.to hold cotton if it sees fit to do so. Fall River’s sales of
print cloths have been light. The South has sold against the
actual cotton to some extent, in fact at times quite freely.
Liverpool for a while was dull, evidently impressed by tho
increased crop estimates. Speculation has suffered from the
wildness of the recent fluctuations, which have had a ten­
dency to drive out the public. Selling on stop orders has
had an unsettling effect. Meanwhile, some of the shrewdest
and most experienced men in the cotton business have felt
themselves at sea as to the future of the market, whose course
has been so erratic as to upset all calculations. Liquidation
attributed to large Southern interests, and also to Wall
Street and Western people, has played an important part in
the transactions. On the other hand, the cotton belt as a
whole seems to have had frost or even freezing conditions over
much of its area during the past week, and it is naturally of
greatiinterest to the bulk of the trade to find out just how
much damage has been done. Rightly or wrongly, the ten­
dency during the last few days has been to place rather more
faith in guesses of 11,800,000 to 12,000,000 bales than in
those around 13,000,000 bales; not only because of the
occurrence of frost or freezing temperatures over a wide
tract of cotton territory, but also because of the persistent
smallness of the crop movement. Many are now awaiting
the ginning report by the Census Bureau, which will be issued
on Wednesday, Nov. 9, and also private advices as to the
extent of the recent frost damage, before making up their
minds as to the direction which prices are likely to take.
Liverpool’s spot sales have of late increased. Fall River
mills are all running on full time. Manchester trade is re­
ported to be in pretty good shape. Liverpool and the West
have latterly been buying here and the uptown, or so-called
Waldorf-Astoria, contingent has also renewed its buying.
To-day a moderate advance took place, owing to unexpec­
tedly strong Liverpool cables, light receipts, firm spot
markets, buying by spot interests, Wall Street and Western
houses and covering of shorts. Spot cotton here has been
dull. Middling upland closed at 14.65c., a decline for the
week of 10 points.
,
The rates on and off middling, as established Sept. 14 1910
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
F air .................... c.1.50 on.
Strict mid. fair____1.30 on
Middling fair.............1.10 on
Strict good m id____0.66 on
Good middling____0.44 on
Strict middling____0.22 on

Middling ..............c . Basis
Strict low. m id____0.25 off
Low middling..........0.60 off
Strict good ord------ 1.05 off
Good ordinary--------1.75 off
Strict g’d mid. tgd.0.35 on

Good mid. tinged.c Even
Strict mid. ting ed..0.15 off
Middling tin g e d ...0.25 off
Strict low.M id.ting.0,60 off
Low mid. tinged__ 1.50 off
M iddlingstained.. .0.75 off

The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Oct. 29 to N ov. 4—
S at.
M iddling u p la n d s______________14.40

M on . Tues.
% ed. Thurs. Fri.
14.55 14.55 14.55 14.55 14.65

NEW YORK QUOTATIONS FOR 32 YEARS.
The quotations for middling upland at New York on
Nov. 4 for each of the past 32 years have been as follows:
19 10 .c ...........14,65
1909................14.95
1908
9.35
1907
11.10
1906
10 30
1905................11.40
1 9 0 4 .............10.15
1903................10.75

1902.C ...........8.60
1 9 0 1 .............7.94
1900
- 9.56
1899
- 7.56
1R98
5.31
1897................ 6.00
1896________8.19
1895................ 9.00

1 8 94 .c _____ 5.75
1 8 9 3 .............. 8.31
1892
. 8.38
1891
. . . 8.31
1890
. 9.75
1889................10.25
1888................ 9.81
1887................ 0.56

1 8 8 6 .0 ...........
1885________
1884................
1883..............1882................
1881................
1880.............
1870................

Nov. 5 1910. J

T H E CHRONICLE

1267

FUTURES.—The highest, lowest and closing prices at AT THE INTERIOR TOWNS the movement1—that is,
the receipts for the week and since Sept. 1, the shipments
New York the past week have been as follows:
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year—is set out
in detail below.
E ufau la,
A lab am a ---------------------------------------------------M ontgom ery,
“
Selm a,
“
--------------------------H elena,
A r k a n s a s -------------------------L ittle R ock,
“
--------------------------A lbany ,
G eorgia
-----------------------A thens,
“
--------------------------A tla n ta ,
“
--------------------------A ug usta,
“
--------------------------C olum bus,
“
--------------------------M acon,
“
-------------------------R om e,
“
-------------------------Louisville,
K e n tu c k y , n e t ---------S h rev ep o rt,
L o u is ia n a ----------------C olum bus,
M ississ ip p i -----------------------G reenville.
“
-------------------------G reenw ood,
“
-------------------------M eridian,
“
-------------------------N atch ez,
* “
-------------------------V icksburg,
“
-------------------------Y azoo C ity,
“
-------------------------S t. L ouis,
M isso u ri ------------------R aleigh,
N o rth C aro lin a .............
C incinnati,
O h i o ------------------------------------G reenw ood,
S o u th C arolina ---------M em phis,
T e n n e sse e ----------------N ashville,
“
----------------------B renham ,
T e x a s ------------------------------------C larksville,
“
........... - .............. ..
D allas,
“
------------------ -- ---------------H oney G rove,
“
------------------------------------H ou ston ,
“
------------------------------------P aris,
“
................ ......................
T o ta l, 33 t o w n s ................ - ................................
%
oo

W
Vi

00
Gt
to
to
>_a
-J
(a M
*'•'-*
co co CO Gt Gt >ik t o Gt
M m
f M
►-* L G
tt
O O M M O O W t -p ik O C D Gt t o Co CO Jk © COb Gt © Gt rfkV jV * o *-0 b Gt V j O f f l ’-J ©
O M O O O < S — » O O O t ' 5 0 5 C O h 3 i . t . i M O t O O O i * t O O * J O O i - ‘ tO it* O M
O C 0 O O O w i C l M O O » O S > O i - ‘ 't H O O M O * K i i A . O l k O O b M W M - 'l

S t o G. t o ce t o - j t o i - t t o co to - ^ M U t o c a c i i N M C i i M ^ k j i u
Oa
£O ©
<yi © >U M C I a—‘ Gt O O G o O t o vt*. Gt Gt •to t o ► -*>—1 Oa O -J ca Gn >-* CO to Gt © a-a to
t\»
C a o < J 'l * -d C i i - i J C 9 y i k i v k C i A > - A O O O * I -O © b b b b b t o © b o © © b
-J
r f a .o o * g c i - - r o t o - k t o e o r o o o c o o o - O r f k k - * c s c j » * k j t o o o * - c a G t o > - ‘ c a c a J k * * o »
C t O l * - » 0 0 > - ‘ C O M tOCt«JCOCaCO O*‘100 00COtOCtCOCOO>UciCO-£krotO-JCOGt

00
Co
to
l-at-a
W
rfkto
CItH*
tXJ CO b - t o a-a tOCOtOMtO
to
a-*
© Gt >-*COt o COCO
t\s
Cabo b o G* CO - I © CO Gt Gt Go V-b V j Gt -.J
bitk OGtD iGtt i OG>Ot oWt ok l JCak OCOtCoO io- MO OCOf c00k Col i -«-lbo
O O M O O O C a O C O O a O O N O O k l^ tO
O
»
0
6
O
G
C
0
O
M
C
®
»
«
3
O
M
t
0
«
5
<
—
k
)
O
O
O
O
O
M
O
C
a
O O O C O »^ M »l
©
Gt
O
a-1
co
a-»
a-* a-a
i-a
a-* «•!
N ■ p fo
N -.1co to 4- Gt CO ,Ua-a 00 G1a-a COt o O Okco ^k Gt COCCOtOCaCOtOCaCO —kjG:
W00 -J © G» © t\5 0C >-»£- CS© >Ck© © Gt (Jo© b b ► -*©
©to C©a©O O ©O ©O b3 0©k ©I 0 b0 a©k -d
O 0 iN 0 a y c iO O » tjN O {3 a -o o ® C a O M 5 6 C lM a k
tsJ

m m

O
CO

Cl
til

14.2

1 ? | f IK 1 £ 1 £ IK 1 «u I F 1 4k I F
©
© O co © w
l@ 1©
I ® 1© | © | © 1© 1® 1© 1® 1®
4k 4k 4k 4k
■u ■Ck 4k
4k 11 M
^ I S 11 GtN 1 £2 1 £ 12
I I I S 12 1 1 1 © 11 ts>

ro
CD
G»
to

b

Co
Co

CO
G t^I
to co ca
O O i-‘
G <t o 0c

Gt
to
to
i-*
CO a-*
u c a i - 1#
Co Co CO>-* Co -sj Gt t o Gt
GJ Co GJ ho -d
i-» G. i£» Gt -d
ct
Co
co a-* bo © " © Gt
t o co o
V* w co co "co
b b
b o o t o oo
i-‘ O C OGiCatoeOO OC DO«-‘ C O G tO O i-‘ C a«dC 0^1C otO “.ia aO tO G tC O C otO
i—•o ro CO CO Gt O O Gt O J i—•COO t o 00 Jk t o G< O G* O O' G* O ca i—* to S >tk

b co

Vi

bb

b Vj

b

»—

00
CO
to
c t t o 4 CO a-a
o
ro
k lM K
t o CO t o a-a Gt
a -a c o to r o -lc tb -a -d fo c to a -a
OOi— OeGtOOG>OiiCk-JX»-JOOGtO>CaitkOCOroOa-*—ICOOO-JCO-JOOOBC>Gti^tO
ca CO t O i « O i k - 0 >-i G t-. 1 0 - 1 0 roCOOCOOOOCO*kOO o o o -J
t 0 G 'O i t i0 0 - J - > J C 0 C 0 O G 't o O 0 0 C 0 C 0 t 0 O C 0 i- ‘ GCitk * 0 |-* O t 0 C 0 i- 4 C a c a “.| C0O
00>-»C0a-‘ 00C0>-‘ iC .c>»e0 C 000 itk l»i~ *G «G ii-*C 0C 0 C *C 0 -v | © O .U -0 -d C iG »«D C a O

-1
>-•
“•« b b b b b itkb
co
CO

3
Co

£ a
to ■s.a
3M
o3

b-t>0
«
1CIS
3

o
oCj
ca
2
S 3 to CT
oa

atk

ssg ©
©

C 0 G t O O O - - J G t C 0 0 0 ^ l0 0 M C a 0 0 c a c a O M O 4 a * O - a li£ * “J O C D e 0 O G « G tC 0 G tO

©to b*d a -* b b b b
to

*■3

00
G( COa-a

>—•©
©Va©h© ©bb •-‘Vdcabobobb V *© b bb © © .t*

CO
t-a
to
a-a
a-* c o
Oo
to to
Co Oa Co a-* CD t o t o Co Co co t o a-* CD Co Gt Gt
© ct
rfk.-.|^kQ C ^kC D O O -vJtO a-*O C O O C oC O C aO tO -J^l^lG tC aO C ttO t0 3DCDCOCi4ktO
C O C D C O O C aC tC aOtC tC oOb-aO-JC D-vJOa-aC OOtOC aOOGtafkOik-aC OOO OOC G'
a-*

3c*
?? ft
<* cas

s. 1

Co ■«
Co
IB
3

3
o

0«
ca
1
t
ca

THE VISIBLE SUPPLY OF COTTON to-night, as
©©
made up by cable and telegraph, is as follows. Foreign
©
"cob b
co
b bbbb© b© b©
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 The above totals show that the interior stocks have in­
for to-night (Friday), we add the item of exports from the creased during the week 71,154 bales and are to-night 22,755
bales less than at the same time last year. The receipts
United States, including in it the exports of Friday only.
at
all the towns have been 11,595 bales [less than the same
Novem ber 4—
1910.
1009.
1908. 1907.
S to ck a t L iverp ool_________bales. 452.000 742,000 409,000 507,000 week last year.
S to ck a t L o n d o n .................................
0,000
5,000
12,000 24,000
S to ck a t M an c h e ste r____________ 21,000
42,000
30.000 42,000
OVERLAND MOVEMENT FOR THE WEEK AND
T o ta l G reat B ritain sto c k ........... 479.000 789,000 451,000 03.3,000 SINCE SEPT. 1.—We give below a statement showing the
■ S to ck a t H a m b u rg ----------------------5,000
0,000
18,000 16,000 overland movement for the week and since Sept. 1, as made
; S to ck a t B re m e n ------------------------- 89,000
191,000 178,000 74,000
• S to ck a t H a v re ---------------------------- 84,000 254,000
98,000 91,000 up from telegraphic reports Friday night. The results for
S to ck a t M arseilles...................
2,000
2,000
4,000
.3,000
• S to ck a t B a rc e lo n a ............................
7,000
6,000
11,000 11,000 the week and since Sept. I in the last two years are as follows:
»S to ck a t G enoa__________________ 27,ooo
16,000 ih .ooo
o>
Gt
O
Gt
0»
0o
*k

CD
itk
G'COa—acaatka—afoCD*—*O0

toa-aa-a
a-a a-»
a-a
G3 o CO Gt CO G* M Gt Gt

GO

G1

cta-k a-a rfka-1
a-a.
--1 a-* G’l COa-a o Ca t o *k t\j

Gt V i ca to
co «.j Gt t o —• ca c t Gt a - a " o b co
"to V j
G liU G lC O © itk *d a -a O i-a G »© tO C O tO C O O G titk k J © < j9 tO © (J O tO © © tO C O C tC a -d
C o © c O '- ‘ O to O a -a © O C 3 a -a G t4 k C a C a © G tC o a -‘ O C o C o O D © C o C o © a - o t O i— - 1

3 5 ,0 0 0
■ 1910------- -------------------1909------------S to ck a t T rie s te _________________
1,000
.3,000
6,000 34,000
Since
Since
S ep t. 1
W
eek
Novem
ber
4—
W eek. S ep t. 1.
•Total C o ntinen tal sto ck s - ........... 215,000 497.000 331,000 247,000
65,506
65,499
Via .St. L ouis------------------------------ -21,069
19,931
11,088
Via Cairo
_ -------------------------- .14,373
34,648
44,255
T o ta l E u ro p ean sto c k s----------- 6 9 1.000 1,286,000 782.000
1,279
V ia Itock Isla n d ___ _______ . . 1,662
5,572
350
36.000
41.000
1In d ia co tto n a llo a t for E u ro p e — 113.000
17,931
V
ia
L
o
u
is
v
ille
__________________
.
4,245
4,640
17,875
1A irier, cottori a llo a t for E u ro p e __ 914,516 882,128 957,849
8,168
2,682
Via
C
in
cin
n
ati__________________
.
2,696
11,162
8
8
,000
50.000
48.000
E gyp t,B razil, & c.,afloat for E urope
5.808
V ia V irginia p o in ts________
31,085
17,350
_ 7,594
S to ck in A lexandria, E g y p t-------- 166.000 143,000 139.000
Via o th e r ro u te s, & c____________ - 9,106
8,693
23,373
30,695
93.000 121.000
Stock In B om bay, In d ia — -------- 162,000
635,367
800,599
’‘S to ck lii VS. S. p o r t s .........................
891,580
T o ta l gross o v e rla n d .....................
54,182 1C8.243
206,150
S to ck In .U, S. Interior to w n s------ 542,929 565,684 681,047
Deduct S h ipm ents—
46,152
55,357
U . S. ex p o rts to -d a y ...............—
62.340
O verland to N. Y ., B oston, &c._ 6,700 . 25.145
4,539
15,905
B etw een Interior to w n s_________ _ 4,259
579
3,639
2,546
. T o ta l Visible s u p p ly - - - ......................................... 3,361,934 4,010,768 3.651,816 .3,389.299
in la n d , &c., from S o u th ................ . 2,170
15,794
2,741
10*497
Of th e abo ve, to ta ls of A m erican a n d o th e r descriptions are as follows:
T o ta l to be d e d u c ted --------------- -13,219
49,578
7,859
28,948
A m erican—
• L iverpool sto c k s___________ bales, 364,000 | 664,000 305,000 476,000
L eaving to ta l n et ov erlan d * ____ .47,523 156,572
46,323 139,295
22,000
M anchester sto c k .....................
19,000• 34,000
31,000
'C o n tin e n ta l sto c k ................................. 195,000 • 473,000 279,000 159.000
•IncludlnB m ovem ent b y rati to C anada.
•A m erican aflo at for E u ro p e ..................... 914,516882,128 957,840 666,556
U . p o rt sto ck s________________ 635,367 890,598 819,580 794,814
The foregoing show’s the week’s net overland movement
U . S. Interior sto c k s....................... 542,929 565,684 681,047 437,851
55,357
62,340
U . a . ex p o rts to -d a y ........ ................. 46,152
20,078 has been 47,523 bales, against 46,323 bales for the week last
" " T o ta l A m erican ...............................2,716,904 3,564,768 3,126,816 2,585,299 year, and that for the season to date the aggregate net over­
E ast In d ia n , B razil, & c.—
land exhibits an increase over a year ago of 17,277 bales.
L iverpool sto c k ________________________ 88,000
1 78,000 104,000
91,000
---------- 1910---------- - -----------1908----------L ondon Htock.............................
6,000l
5,000
12,000
24,000
I n Sight and S p in n ers’
Since
Since
M anchester sto c k _____________________
2,000
i
8,000
8,000
11,000
T
akings.
W eek. Sept. 1.
W eek. S ep t. 1.
20,000l 24,000
C o ntinen tal sto c k __________
52,000
88.000 R eceipts a t p o rts to N ov. 4 ________ 381.5.30
2,900,812 401,448 3,228,329
In d ia afloat for E u ro p e _______________ 113,000
41,000
i 36,000
48,000 N et overland to N ov. 4
47,523
156,572 46,323 139,295
E g y p t, B razil, &c., a flo a t____________ 88,000
48,000
> 59,000
47,000 357,000 52,000 494,000
S to ck in. A lexandria, E g y p t_____ 166,000i 143,000 139,000 109,000
132,000 S o u th ’n consum tlon to N ov. 4S tock In B o m bay , In d ia _________ 162,000' 93,000 121,000 301,000
T o ta l m a rk e te d ________________476,053 3,414,384 499,771 3,861,624
492,151 35,319
482,521
T o ta l E a st In d ia , <Scc__________ 645,000 1 446,000 525.000 804,000 In te rio r sto ck s In excess__________ 71,154
T o ta l A m e ric a n ...............................2,716,964 . 3,564,768 3,126,816 2,585,299
C am e Into sight du rin g w eek — 547,207 -------------- 535,090 _________
T o ta l In sight N ov. 4 --------------- -------- 3,906,535
_____ 4,344,145
3,651.816 3,389,209
M iddling U pland, L iv erp o o l_____ 7 .8 ld , 4,010,768
7.59d.
5.00(1.
5 .Old. N orth, sp in n ers’ tak in g s to N ov. 4 107,324
528,188 101,692
460,445
M iddling U pland, N ew Y o rk ____ 10.65c. ______
14.70c.
9.30c. 10.80c.
E g y p t. Good B row n, L iverpool - - 12 5-1 Od. 12 11-16(1.
11-16d
8 %<\. 10 9-16(1.
Movement,
into
sight
in
previous
years:
P eru v ian . H ough G ood, L iverpool 10.75d.
9.25d.
8.00d.
B roach, P ine. L iverpool------------- 7 9-10d. 7 l-16d . 4 13-16(1. 12.00(1.
5«d.
Bales.
W eek—
Since Sept 1B ales.
T lnncvclly, G ood, L iverp ool-----7H d.
OMd. 4 11-16(1. 5 7-16d. 1008—
N ov. 7 ............. ______ 649,990 1908— N ov. 7.
_4,275,057
.............461.420
.3,198,563
N ov. 9 . .
______ 567,845 1906— N ov. 9
Continental imports for the past week have been 81,000 1906—
.4,051,170
1905— N ov. 10______ ______ 493,054 1905— N ov. L0_
_3.985.G10
bales.

ssei

The above figures for 1910 show an increase over last week QUOTATIONS FOR MIDDLING COTTON AT OTHER
of 295,367 bales, a loss of 648,804 bales from 1909, a MARKETS.—Below are the closing quotations of middling
decrease of 289,852 bales from 1908, and a loss of 27,335 cotton at Southern and other principal cotton markets for
'bales from 10071
each day of the week.




1268
Week ending
Novem ber 4
G a lv e s to n _____
New O rlean s___
M o b ile ..................
S av a n n a h _•____
C h arle sto n _____
W ilm in g to n .___
N orfolk ...............
B a lt i m o r e _____
P h ila d e lp h ia __
A u g u sta _______
M em p h is______
S t. L ouis______
H o u s to n ______
L ittle R o ck ____

THE CHRONICLE
Closing Quotations Jor M idd ling Cotton on—
Sa t'd a y, M onday, Tuesday, W ed'day, Thursd'y, F riday
14 %
14 3^
14 %
%
14 7-16
14 3-10 14 3-16 14 3-16 14
14 X
14 5-16
X
14 1-16 14 1-16 14 %
14
%
1-16
14
1-16
14
14
14
14
14%
14
14
14
14
14
X
|14
14
14
14
14 X
14K
14 X
14 X
14 X
14 7-16
X
14 %
14
X
14
45
14H
14
X
X
14.65
14.80
14.80
14.80
.80
14 90
14 3-16 14 X
14 3-16 14 X
14%
X
14 5-16 14 5-10 14 5-16 14 5-16
14 7-16
14 X
14 H
14%
14>*
14 X
14 X
14 X
14
7-16
14
X
\
\
X
14 x
14
14 X
14
14

NEW ORLEANS OPTION MARKET.—The highest,
lowest and closing quotations for leading options in th eNew
Orleans cotton market for the past wreek have been as follows:
October—
R a n g e ___. _
C losing_____
November—
R a n g e _____
C lo sin g ..___
December—
R ange _____
Closing_____
Ja n u a ry—
R ange _____
Closing_____
F ebruary—
R ange _____
Closing_____
M arch—
R ang e _____
Closing_____
A p ril—
R ange _____
Closing_____
M ay—
R ange . . ___
Closing...........
J u ly —
R ang e ...........
C losing_____
Tone— S p o t.
O p tio n s ____
• N om inal.

S a t’day. M onday. Tuesday, W ed’day, Thursd'y, F rida y,
Oct. 29. Oct. 31. N o v. 1. N ov. 2. N ov. 3. N ov. 4.
- @ -*
>4.04
@ 14.03-.or
14.09-.23
14.04-.05
14.05-.30
14.11-.12
— ® —
14.18-.21
14.18-.43
14.23-. 24
>— @ —
14.26-.28
I4.30-.55
14.35-.36
14.37-.48
14.40-.41
S tead y .
S te a d y .

— @ —— @ — - @ —
—
14.20 —
t4.03-.23
1 1.20-.21
14.08-.29
14.27-.28
— @ —
14.36-.38
14.21-.42 H O L I­
14.41-.42 D A Y .
— O —
14.44-.46
14.35-.54
14.53-.54
14.43-.60
14.59-.61
Q uiet. Q uiet.
S tead y .

14.08 —
14.10 *
14.10-.28
14.13-.14
14.17-.35
14.19-.20
— @ —
14.24 *
14.30-.49
14.33-.34
— @ —
14.38 *
14.43-.61
14.45-.46
14.50-.68
14.53-.54
S tead y .
S tead y .

14.20 *
14.07-.26
14.24-.25
14.21-.33
14.30 —
— @ —
14.38 *
14.27-.48
14.45-.46
— @ —
14.51 *
14.40-.60
14.57-.58
14.53-.65
14.64-.65
F irm .
S teady.

14.21-.26
14.21 *
14.26-.36
14.28-.29
14.3514.35— @ —
14.42 *
14.5214.52— @ —
14.60 *
14.6314.6414.7014.71S tead y .
S tead y .

[V Oh. LXXXXI.

Vicksburg, Mississippi.—We have had rain on one day
during the week, the rainfall being sixty-one hundredths of
an inch. The thermometer has averaged 51, the highest
being 71 and the lowest 35.
Charlotte, North Carolina.—Fields look as if they had not
been touched. There has been rain on one day of the week,
the precipitation being twenty-seven hundredths of an inch.
Ihe lowest
thermometer
the
28. has averaged 48, the highest being 68 and
Ihe following statement we have also received by tele
graph,
the given:
height of rivers at the points named a
8 a. m. showing
of the dates
xt
.
A bove
New
O^ rleans-------------M em phis — ....................A bove
N a sh v ille -------------------- A bove
S h re v e p o rt------------------ Below
V ic k sb u rg ------------------ A bove

zero
zero
zero
zero
zero

of
of
of
of
of

g au ge.
g au ge.
g au ge.
gau ge.
g au ge.

iVOP. 4 1910.
Feet.
4.7
4 .7
7 .4
4 .6

7.6

N ov. 5 190 ).
Feet.
4 .3
0 3

o ’o
3*,1
5 ,0

MARKET AND SALES AT NEW YORK.
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
F utures Sa les of Sp ot and Contract.
Spot M arket
M arket
.43
Closed.
Closed.
1 ConCon­
.36
Sp ot. sum 'n. tract. Total.
S a tu r d a y .. Ju iet, 35 p ts. dec _ iC asy______
M onday___ Q uiet, 15 p ts. ndv__
ste a d y . 4,487
2 0 ',300 2 4 ,787
T.59uesday _. Qu le t .......... ................. Very
Very ste a d y .
253
W ednesday ju lc t . ..
Barely steady 247 : : : : 4,000 4,253
247
.53
T hursday . lu ie t . . . . . . .
F ir m ______
—
F rid a y ____ Q uiet, 10 pts; adv S t e a d y _____
T o ta l__
4,087
2 4,300 20,287
.70
.65
EXPORTS OF COTTON GOODS FROM GREAT
.76
BRITAIN.—Below we give the exports of cotton yarn,
.73
goods, &c., from Great Britain for the month of September

and since Oct. 1 1909-10 and 1908-09, as compiled by us
from the British Board of Trade returns. It will be noticed
RECEIPTS FROM THE PLANTATIONS.—The follow­ that we have reduced the movement all to pounds.
ing table indicates the actual movement each week from the
Cloth.
Total of All.
plantations. The figures do not include overland receipts 000s Yarn <k Thread.
nor Southern consumption; they are simply a statement of omitted. 1909-10 1908-09 1909-10 1908-09 1909-10 1908-09 1909-10 1908-09
the weekly movement from the plantations of that part of the
I.bs. Lbs.
Yds.
Yds. Lbs.
Lbs.
Lbs.
crop which finally reaches the market through the outports. Oct . . . 21.314
19,126 515,615 455,68/ 96,018 84,844 117,332
103,970
Receipts at Ports. Stock at Interior Towns)Receipts from PlaiUa’ns.
Week
ending . 1910. | 1909. j 1908. 1910. 1909. 1908. | 1910. 1909. | 1908.
Sept. 16 169 A 2 239.071 213,992 78.965 137,970 162,429 185,851 270,172'243.301
" 23 242,558 278,584 286,480 109,881 185,626 215,229 275,454 326,240 339,280
" 30 391,418 378,898 338,816 164,701 247,107 285,549 446,258 440,379 409.136
Oct. 7 349,502 418,615 343,617 223.5,2 321,709
408,333 493,217 426,224
** 14 40>,089 442,7831370,703 293,714 401,231 368,158
4J/.2 /1 522,305 158,333
•• 21 451,95.; 450,899*419,021 390,627 474,240 453,726
550,556
551,865
523,908 516,451
•* 28 39 >,831 420.071 440,660 471,775
625,915 471,979
516,019
Nov. 4 381,530 401.4481484,481 542,U29 530,365
565,685 681,0471452,084 470,196
436,767 539,613

The above statement shows: 1.—That the total receipts
from the plantations since Sept. 1 1910 are 3,392,963 bales;
in 1909 were 3,710,850 bales; in 1908 were 3,645,447 bales.
2.—That although the receipts at the outports the past
week were 381,530 bales, the actual movement from planta­
tions,was 452,684 bales, the balance going to increase stocks
at interior towns. Last year receipts from the plantations
for the week were 436,767 bales and for 1908 they were
539,613 bales.
WEATHER REPORTS BY TELEGRAPH.—Qn account
of interruption to telegraph service a number of our tele­
grams from the South have failed to reach us this evening.
Those that have been received, however, indicate that there
has been little or no rain during the week, but the tem­
perature has been lower. Favored by the weather, picking
and marketingfaave made good progress. .
Galveston, Texas.—There has been no rain the past week.
The thermometer has averaged 55, ranging from 46 to 64.
Abilene, Texas.—There has been no rain the past week.
Thermometer has ranged from 28 to 64, averaging 46.
Palestine, Texas.—We have had no rain during the week.
Average thermometer 49, highest 56, lowest 30.
San Antonio, Texas.— Wo have had no rain during the
week. The thermometer has averaged 48, the highest being
60 and the lowest 36.
Taylor, Texas.—Dry all the week. The thermometer
has averaged 49, ranging from 34 to 64.
New Orleans, I^uisiana. —It has been dry all the week.
Average thermometer 57.
Helena, Arkansas— No rain all the week. The thermom­
eter has ranged from 28 to 68, averaging 47.3.
Charleston, South Carolina.— It has rained on One day
of the week, the precipitation being eight hundredths of an
inch. Average thermometer 57, highest 77, lowest 37.
■ Montgomery, Alabama.—It has been dry all the week.
Average thermometer 49, highest 70 and lowest 31.
Selma, Alabama.— There has been rain on one day during
the week, the rainfall being ten hundredths of an inch. The
thermometer has averaged 45.5, the highest being 62 and
the lowest 30.



Nov . . . 20.451 13,517 463,326 378,952 86,286 70,557 106,731 84,074
Dec___ 18,108 17,506 482,872 388,373 89,920 72,311 108,028 89,817
lstq r. 59,873 50,149 1,461,813 1,223,012
227,712 332,091 277,801
Jan . . . 17,879 19,480 497,747 419,123 272,218
92.639 78,036 110,518 97,516
Feb___ 18,181 19,052 469,525 435,084 87,386 81,119 105,567
100,171
March . 18,55.1 22,013 475,819 492,867 88,607 91.712 107,160 113,725
2d qr. 54.613 60,545 1,44.3,091 1,347,674 268,632 250,867 323,245 311,412
6 rrios. 114,486 110,694 2,901,904 2,570,686 510,850 478,579 655,336 589,273
April .. 17,578 19,605 462,261 443,149 86,0.82 82,177 103,660 102,082
May .... 17,159 20,024 450,303 140,902 83,806 82,059 101,025 102,083
June . . 16.924 20,184 508,444 430,730 94,682 80,166 111,606 100,350
3d qr. 51,661 59,813 1,421,068 1,314,781 264,630 244,702 316.291 304,515
9 mos. 166,147 170,507 1.325,972 1,885,467 805,480 723,281 971,627 893,788
July . . . 18,006 22.362 562.75: .575,206 104,796 107,055 122 802 129,417
August. 16,958 22,020 520,924 543.871 97.014 101,223 114,002 123,243
S e p t. . . 17,173 20,392
492,179 478,984 91,65? 89,147 108,826 109.539
4th qr. 62,137 64,774 1.676,855 1,598,061 293,493 297,425 345,630 362,199
Year. 218,284 235.281 5,901,827 5,483,528 1,098,873 1,020,700 1,317,257 1,255,987
Stockings and socks___ ________ _____._____
1.181 . 979
...................
43,961 39,380
Total exports of cottonlmanufactures.. __ _
1,362,402 1,200,34
s'***
■ *r- H
■■ 1 1
■
, • if
•• • .• •.

The foregoing, shows that there has been exported from
the United Kingdom during the twelve months 1,362,402,000
lbs. of manufactured cotton, against 1,296,346,000 lbs. last
year, or an increase of 66,056,000 lbs.
A further matter of interest is the destination of these
exports, and we have therefore prepared the following state­
ments, showing the aihounts taken by the pripcipal coun­
tries during Septertiber and since Oct; 1 for citchof the last
three years.
Piece Goods— Yards.
(000* omitted.').
E ast Indies.. .
Turkey, Egypt and Africa.
China and Ja p a n _________
Europe (except Turkey)..
South America.................... ..
North America......................
All other countries................
Total yards.........................
Total value_________. _
Yarns—Lbs.
(000s omtued.)
Holland ..................................
Germany ................................
Oth.Europe(except Turkey)
East Indies.............................
China and Ja p a n ....................
Turkey and E gypt___ . . .
All other countries...............
Total po un ds_____ . . .
Total value........................

October’ 1 to September 30.
September.
1910. 1909. . 1008. 1909-10. 1908-09. 1907-08.
205,632 199,734 213,782 2,369,850 2,194,980 2,659,079
111,496 96,836 89,290 1,062.624 1,029,863 895,801
44,217 46,123 .41,288 603,734 687,9-19 632,886
27,225 30,729 ■ 23,022 337,227 345,343
47,517 39,237 36,832 498,031 459,217 322,990
488,341
20,736 30,527 24,122 298,502 327,689 367,048
35,356 35,798 31,934 673,853 438,581 458,741
492,179 478,984 460,270 5,901,827 6,483,528 5,824,895
£6,521 £5,725 £5,570 £75,521 £65,523 £70,290
2,420
4,717
2,4 0
2,239
374
881
2,219
15,300
£1,134

3,370
3,700
3,434
3,502
158
1,200
2,474
17,976
£1,015

3,714 i 36,004 38,807 45,380
3,045 41,728 40,204 51,211
3,270 35,972 39,320 49.688
3,935 28,088 35,319 41.781
6,298
7,019
898
3,640
1,424 15.438 17,507 14,491
2.51Q 29,145 28,932 26,103
18,802 190,621 207,138 234,855
£1,061 £11,600 £11,317 £14,456

THE CHRONICLE

N o \. 5 1910.]

WORLD’S SUPPLY AND TAKINGS OF COTTON.—
The following brief but comprehensive statement indicates
at a glance the world's supply of cotton for the week and since
Sept. 1 for the last two seasons, front all sources from which
statistics are obtainable, also the takings, or amounts gone
out of sight, for the like period.
Cotton Takings.
Week and Season,
A m erican in sig ht to N ov. 4 ____
B om bay receipts to N ov. 3 ____
O ther In d ia sh lp ’ts to N ov. 3 —
A lexandrla receipts to N ov. 2 . .

1910.
1909.
W eek. Season.
W eek. Season.
.1,066,797
1,758,504
1,405,514
1,931,022
547,207 3,906,535 535,090 4,344,145
79.000 36.000
28,000
113.000
3.000
4.000
42.000
48.000
71,000 289,000 39.000 200.000
7.000
57.000
4.000
40.000
3,719,804 5,869,049 4,379,504 6,676,167

T otal su p p ly ______ ,.....................
Deduct—
Visible supply N ov. 4 . _______ 3,361,964 3,361,964 4,010,768 4,010,768
T o ta l takln gs to N ov. 4 ________ 357,840 2.507.085 368.826 2,665,309
Of w hich A m e ric a n ...______ 314,810 1.983.085 316.826 2,233,399
43,000 524,000 52,000 •432,000
E m b races receipts In E urope from B razil, S m yrn a, W est Indies, &c.

INDIA COTTON MOVEMENT FROM ALL PORTS.—
The receipts of cotton at Bombay and the shipments from
all India ports for the week and for the season from Sept. 1
for three years have been as follows:
Not ember 3.
Receipts at—

1910.
1909.
1908.
Since
Since
Since
Week. Sept. 1. Week. Sept. 1. Week. Sept.
1.
Bombay____ _____________ 28,000 79,000 36,000 113,000 9,000 61,000
from —
Bombay—
1910 . . . .
1909 ___
1908 . . . .
Calcutta—
1910___
1909 ___
1908 ___
M adras—
1910___
1909 ___
1908 ___
All others—
1910___
1909 ___
1908 ----Total all—
1910----1909 ___
1908 . . . .

For the Week.
Since September 1.
Great Conti­ Japan
Great Conti­ Japan
Britain. nent. AChlna Total. Britain. nent. & China. Total.
26,000 1,000 27.000
__ 8,00(1 10,000 18,0(K]
___ 15.000 10,000 25,000
1.00C ___ __
1,000
___
1 .0 0 c
1,000 2.00C
1,000
1.00C
1,000
1,006
1,00(1
1,000
__ 1,000
1 .0 0 0
1,000 2,000
3,000
....

2,000 112,000
1,000 33.00C
03,000
2,000
4,000
1,000
I.00C
2,000
O.OOC
5,00(1
1,000
1,000
4.00C
1,000
6,00(1
000 26,000 \
4.000 33.000
2.000 38.000

17,000 131.000
22,000 56,000
34,000 97,000
6,000
5.000
1,000 9,000
6,000
1,00(1 6,000
1,000
8,000
_____
30,000
37.000
3,000 43.000

2,000 27,000 1.000 30.000
2,000 10,000 10,000 22,000
1 . 0 0 0 1 0 .oool 11,000 28,000

9,000 147,000
7,000 74,000
5,0001 113,000

17,000 173,000
23,000 104,000
39,000 157,000

ALEXANDRIA RECEIPTS AND SHIPMENTS OF
COTTON.—Through arrangements made with Messrs.
Choremi, Benachi & Co., of Boston and Alexandria, we
now receive a weekly cable of the movements of cotton at
Alexandria, Egypt. The following are the receipts and ship­
ments for the past week and for the corresponding week of
the previous two years:
A lex a n d r ia , E g v p t.
N ovem b er

llccelp ts

T his w eek JO___
Since S ep t. 1___— — ____
(c a n ta r s )— -•

E xports (bales)—
T o L iverpool___1____ ____
T o M an chester— _______
T o C o ntinen t . _________
To A m e ric a .. . . ' . ...............
T otal e x p o rts_________

1910.
525,000
2,164,857

1909.

1908.

370,000

250.000

T h is Since T his Since
W eek. Sept. 1. W eek. &ept.
1.
11,750 53,033 10,250 39,520
9.000 39,239 9,000 23,601
9.000 47,655 0,750 44,057
2,500 8,068 3,250 7,485
32,250 148,595 29,250 114,663
E g y p tian bales weigh a b o u t

This Since
W eek. Sept. 1.
5.250 21,598
8,000 14,162
7,500 42,610
1.250 6,309
22,000 84,079
750 lbs.

Tfve sfat^ipent shows that the receipts for the week were
525,000 cantars and the foreign shipments 32,250 bales.
. M/VNf,TIESTER- MARKET.—:Our/r«>p6fi^ received, by cable
to-night, from Manchester states that the iparket continues
firihfdr;\b((ih.yhr'n8 and ' shirtings. ' The demand for both
yarn ai)d cloth is.improving. We give Ui,e prices for to-day
below and leave those for previous weeks of this and last
___ __ _
year for comparison:

Sept
16
23
30
Oct
7
14
21
28
4

8 H lbs. Shirt­
32s Cop
ings, common
.' Twist:
jj' P y--> - to finest.
(Si■■■
' ' " d. H d.
8. (1.
10)* @ 11M 5 6 @ 1 0 7 )*
109-16(^115-16 5 6 ©10 7)4
@116*16 5 0 @10 7)4
10 H @ 1 1 ^ 5 7 @10 9
1 1 1 -1 0 ©
11*4 5
7H <" 11 0
11
© 11)* 5 7 @10 9
10J* @ l l YA 5 6)*@ 10 8
10t3,«
■ :•@>v 11)*
------ 5 6 @10 7)4

8)4 tbs. Shirt­ Cot’n
Cot'n
Mid.
ings, common Mid.
32s Con
Upl's
Twist'..
to finest:
UpTs
(I. d.
• d. ft4 <1.
H. <1. d.
7.98 9)4 @ 10)4 5 1)4@0 0 6.93
7.82 9)4 @ 10)4 6 2 @9 7)4 7.31
7.61 9)4 @ 10)4 5 3 @ 9 9
7.29
7.88 9)4 @ 10)4 fi 3)4@ 9 9 7.27
8.25 10 @
5 4 (n 9 9 7.41
7.95 10)4 @ 10)4
1054 5 4)4 @9 9 7.37
7.76,10)4 @ 11)4 5 0 @9 11 7.71
7.81 10)4 @ 11)4 5 6 @9 11 7.59

DOMESTIC EXPORTS OF COTTON MANUFAC­
TURES.—We give below a statement showing the exports
of domestic-cotton manufactures for September and for the
nine months ended Sept. 30 1910, and, for purposes of com­
parison, like figures for the corresponding periods of the
previous year are also presented:



1263

Quantities o j Manufactures of Months end. Sept. 30. 9 Mos. ending Sept. 30.
Cotton (colored and uncolored)
Exported to—
1910.
1910.
1909.
1909.
117,333 321,803 1,277,517 1,751,292
699,239 618,071 8,684,288 6,660,401
H on d u ras........................................ 3,104,124 2,808,861 18,914,113 22,824,363
M ex ico............................” ” ”
118,054
80,484 1,341,801 1,342,536
C u b a ...................
2,612,591 2,007,645 8,625,206 17,389,781
2,917,788
2,SOS,484
26,059,247 34,485,450
Chile...........................................
1,215,827 1,215,171 7,261.452 7,031,179
Colombia ___________ *_*"
1,502,957 1,400,382 12,444,847 11,901,451
Other South A m e ric a ']"!
1,081,998 1,642,050 11,083,080 15,424,993
Aden _......................................
2,224,755 1,670,600 7,991,005 16,792,420
Chinese E m p ire__
4,226,655
9,027,666 60.241,093 144,238,966
British E ast In d .es..............
983,800 1,056,700 6,511,020 7,960,599
British Oceania __
547,970 516,745 5,947,217 5,773,701
Philippine Islands ..............
7,180,316 1,643,837 41,323,129 8,978,096
Other Asia and Oceania "
368,005 417,440 2,170,332 2,228,557
Other countries___
1,411,803 1,874,951 7,784,298 12,330,334
Total yards of above .
30,313,278 29,143,890 227,209,657 317,120,122
Total values of above
$1,992,639 $1,764,137 $15,309,422 $18,918,173
Value per y a rd .............
$.0657
$.0674
$.0599
$.0597
Value o f Other Manufactures of
Colton Exported.
Wearing Apparel—
K nit Goods_________ _____
$148,009 $80,866 $1,083,891 $665,533
All other ........................
409,407 313,793 3,793,055 2,957,845
Total
$557,416 $394,659 $4,786,940 $3,623,378
Waste, cotton.
$341,761 $168,890 $2,638,875 $1,445,039
Y a r n ..... ...........
35,927
19,982
431,698
354,216
All o th e r..........
372,416 256,193 3,396,210 2,622,583
Total m anufactures of............
$3,300,159 $2,604,269 $26,502,957 $26,963,989

COTTON CONSUMPTION ARD OVERLAND MOVEMEN I 10 NOV. 1,—Below we present a synopsis of the
crop movement for the month of October and the two
months e^ded October 31 for three vears:
Gross overland for O cto b er________ bales
Gross overland for 2 m o n th s____________
N et overland for O ctober________________
N et ov erland for 2 m o n th s_____ _________
P o rt receipts In O cto b er..........._...................
P o rt receipts In 2 m o n th s________________
E x p o rts In O cto b er___________ _______ ___
E x p o rts In 2 m o n th s_________________ . . .
P o rt stocks on O ct. 31 ......................... ............
N o rth ern sp inners’ takin gs to N ov. 1___
S o uthern consum ption to N ov. 1________
O verland to C anada for 2 m o nth s (In­
cluded In n e t o v e rla n d )_______________
B u rn t N orth and South In 2 m o n th s____
Stock a t N o rth ’n Interior m a rk ets N ov. 1
Cam e In sight du rin g O cto b er___________
A m o unt of crop In sig ht N ov. 1_________
C am e In sig ht balance of seaso n ..................
T otal cro p _____ ____________________ ______
A verage gross w eight of bales____________
A verage net w eight of bales_______ __ .

1910.
148,943
169,467
116,991
124,611
1,747.142
2.674,050
1,315,558
1,935,011
599,576
468,963
325.000
21,162
9,430
2,390,210
3,571,661

1909.
1908.
122,088
188,008
135,637 212,723
104,787 162,122
111,907 180,892
1,858,308 1,744,200
2,895,694 2,678,687
1,275,939 1,217,870
1,931,419 1,802,132
883,594 737,718
378,653 497,953
450.000 363,000
14,849
8,675
8,533 * 14,657
2,485,095 2,466,322
3,912,601 3,742,579
6,738,360 10.087,267
10,650,961113,829.846
522.41
512.87
520.00
498.11
488.87' 496.90

S H IP P IN G N E W S .— A s sh ow n on a p reviou s p a re, the
exp orts of co tto n from the U n ited S ta tes th e .p a st w eek h av e
reached 37 9,229 b ales. T h e sh ip m en ts in d etail, as m ade
up from m ail and telegraphic returns, are as follow s:
Total bales.
NEW YORK—To
7359 upland,
50 ____9,526
Sea
1—Caronla, 29—Baltic,
2,117___________.
______.
Island__Nov.Liverpool—Oct.
To Manchester—Oct. 28—Titian, 2.728 upland, 220 Sea Island
To London—Oct. 28—Mlnnewaska, 100.. __________________ 2,948
100
To Havre—Oct. 29—Chicago, 5,350__ Nov. 2—Niagara, 140.
To Bremen—Nov. 2—Friedrich, 150............. —————.......... 5,490
150
To Antwerp—Oct. 28—Vaderland, 213...........—......... . . . . . . .
213
To Lisbon—Oct. 21—Bolton Hall, 200_____ j __________. . . .
200
To
Genoa—Oct. 28—Europa,
200
Nov. 2—Cincinnati,
1,650 1,850
To Leghorn—Oct.
28—Columbia,
300...........
.. . . . .
GALVESTON—To Liverpool—Oct. 27—Magician, 11,989—-Oct. 300
29—Jamaican,
Monarch. 21,517...O ct. 31— Rloiano.
11.465.. .Nov.8,736;
2 —Justin, 10,172_____________________
To Manchester—Oct. 28—Mercedes de Larrlnaga, 12,477__ 63,879
Nov. 2—Teodoio de Larrlnaga. 9,941....................................... ..
To Havre—Oct. 27—Lincolnshire, 9,957__ Oct. 31—Mlra- 22,418
mlchl, 11,115....................................................................- '-.v ....
To Bremen—Oct 28—Baron Balfour, 10,741; Quernmore, 21,072
14.380.. .0ct. 31—Glanton, 5 ,5 6 0 ........— —................ 30,681
To Hamburg—Oct. 29—Corfu, 2,150____ . .. . ' _____________ 2,150
To Riga—Oct. 31—'Torr Head, 200............... _____w— —— - 200
To Antwerp—Oct. 31—Sklpton Castle. 3,212___________ 1 .. 3,212
To Narva—Oct. 31—Torr Head, 3,900 —> '— ___ ____J 3,900
To Ghent—Oct. 31—Sklpton Castle, 4,186..................................... 4,186
To Reval—Oct. 31—Torr Head, 7 , 0 2 7 . 7 . 0 2 7
To Barcelona—Oct. 31—Cerea, 2,700............................................. 2,700
To Genoa—Oct. 31—Cerea. 8,117............. - . . . . . - . I . . . 8,117
PORT ARTHUR—To Bremen—Oct. 28—Dragoman, 9,476_____ 9,476
TEXAS
CITY—To Liverpool—Oct.
29—Mercian,
13,965.. .17,500
. . . . . 13,965
NEW ORLEANS—To
Liverpool—Nov.
2—Massachusetts,
----Nov. 4—Explorer, 17,000..........................l i t . . ——— 34,500
To Manchester—Oct. 31—Albanian, 1,288.___ ......................... 1,288
To
31—John Coverdale,
100...........................
..
100
i ____...................
333
To Glasgow—Oct.
Havre—Oct. 29—Homer,
533.___ _____—
To Havana—Oct. 29—Excelsior, 7_______ _______________ _
7
MOBILE—To Havre—Nov. 3—Homer. 3 ,1 1 4 ...___ _______• . . 3,114
PENSACOLA—Tp Havre—Oct 29—Warrior, 3,963 —— ———— 3,903
To Bremen—Oct. 29—Warrior, 4,662................... —. . . . . .......... 4,632
SAVANNAH—To Liverpool—Oct. 28—Austrlana, 5.598__Nov. 2
Montauk Point, 1,200................. ............ j — .1 .. —.............. 6,798
To Manchester—Oct. 28—Helmslde, 11,030------------ ———. 11,030
To
6,284............................T............—
To Havre—Oct.
Bremen—Oct.31—Apolo,
28—Queenswood,
7 ,4 0 0 ...Oct. 29—Glen-. 6,284
shlel, 13,800...Oct. 31—Cheviot Range. 4,300._______-___ 25,500
To Christiania—Oct. 29—Glenshlel, 50__________________50
To Hamburg—Oct. 31—Apolo. 100____ _ ... . ... _____ . . .
100
To Gothenburg—Oct. 31—Apolo, 100_____ —. a____ ____________ 100
To Barcelona—Oct. 29—Alberta, 2,700___ —,_____
2,700
To Trieste—Oct. 29—Alberta, 1,100.................................. .......... 1,100
To Venice—Oct. 29—Alberta, 500............ j,_____ _______
500
! BRUNSWICK—To Bremen—Oct. 31—Exmouth, 11,392_______ 11,392
CHARLESTON—To
Havre—Oct.
31—Norton,
4,900_____
.
.
.
.
4,900
WILMINGTON—To Liverpool—Oct. 29—Jura, 14,243______ 14,243
To Bremen—Nov. 2—Fitzpatrick, 15,189_____________ . 15,189
To Ghent—Nov. 4—Torgorm, 5,329...
. ... ...
5,329
BOSTON—To
31—Cymric,
2 . . . Nov.
fredlan, 4Liverpool—Oct.
8 9 ...._____________
_
. . . . .2—WlnI....
491
To Manchester—Oct. 28—Bostonian, 2 0 0 .... —_____ . . . .
200
To Yarmouth—Nov. 1—Prince Arthur, 1 0 2 . . . — ___
102
BALTIMORE—To Bremen—Nov. 2—Rhein, 105 . . . . . . . . .
105
To Hamburg—Oct. 24—Pretoria, 2,000.............................._•____ 2,0 0 0
SAN FRANCISCO—To Japan—Nov. 1—Tenyo Maru, 0,149.. . . . . 6,149
SEATTLE—To Japan—Oct. 28—Panana Maru, 2,300.________ 2,300
TACOMA—To Japan—Nov. 1—Tencer, 750.
750
T otal ............................................................................................................ .. . . .. 3 7 9 , 2 2 9

THE CHRONICLE

1210

[VOL.

LXXXXI.

The particulars of the foregoing shipments for the week, freely in the Liverpool market. The world’s exports have
recently reached a very large total. Last week, for example,
arranged in our usual form, are as follows:
they were 15,424,000 bushels, against 13,856,000 in the
Great F rench Ger- — O th.Europe— M e x.,
B rita in , ports, m an y. N orth. South. &c. J a p a n . Total. previous week and 14,352,000 for the same week last year.
N ew Y o rk ...........12,571 5,490
150
213 2,350 .................... 20,777 As a whole, the winter-wheat crop in this country is looking
G a lv e s to n ______86,297 21,072 32,831 18,525 10,817 . . . . . . 169,542
P o rt A rth u r____
9,476
9,476
despite some complaints of dry weather in a few
T ex as C ity _____13,965 ........... ...................................................................... 13,965 well,
N ew O rle a n s.-.3 5 ,8 8 8
533 ____ ____ ____
7 . . . 36,428 sections, and fears in some others that Hessian fly
M o b ile ............................... 3,114 .....................................
.................... 3,114 may yet do some damage, the eggs of this pest
P e n s a c o la ........... ........ 3,963 4,652 ____ ____ . . . . . .
8,615
S a v a n n a h .............17,828 6,284 25,600
150 4,300 . . . . . . 54,162 having been found in some localities. The stock at
B r u n s w ic k ......................
11,392
11,392 Minneapolis has been increasing. Cash people have been
C h a r le s to n ____ ____ 4,900 ......... ......................
...... ...... 4,900 selling at Chicago and more or less selling has also been done
W ilm ingto n_____ 14,243
15,189
5,329
...
. . . 34,761
B oston ............... 691
...........
.......................... 102 . . .
793 there for interests in the Northwest and Southwest.
B a ltim o re _____
2,105
2,105 Harvesting will begin in Argentina shortly, and believers
San F ra n c isc o .. ____
6,149 6,149
S eattle ............
2,300 2,300 in lower prices argue that there is little likelihood of a resump­
750
750 tion of exports on any important scale from this country for
T a c o m a ________
T o t a l ............. 181,486 45,356 101395 24,217 17,467 109 9,199 379,229 some time to come. Yet, on the other hand, the receipts
our Western markets have latterly been comparatively
The exports to Japan since Sept. 1 have been 19,188 bales at
small. The other day, for example, the arrivals of spring
from Pacific ports.
C o tto n fre ig h ts a t N ew Y o rk th e p a s t w eek h a v e b e e n a s and winter wheat reached a total of only 1,344,000 bushels,
against 1,919,322 on the same day last year, and on Tues­
follow s, q u o ta tio n s bein g in c e n ts p e r 100 lb s.
day Northwestern markets were noticeably steady, owing
W ed. T hurs. F ri.
M o n . Tues.
S a t.
20
20
L iverpool _______
20
20
largely to the fact that the receipts at the chief points in that
20
20
18
18
18
18
18
M a n c h e s te r________ 18
section reached a total of only 753,600 bushels, against more
25
25
25
25
H avre ____________
25
25
than double that quantity on the same day last year. Those
20
20
20
B rem en____________
20
20
20
20
20
20
20
20
H am b u rg _________ 20
at Duluth on the day mentioned were only a third of the total
22
22
22
22
22
A n tw e r p .................... 22
on the same day in 1909. But these figures, after all, had
28
28
28
28
28
G hent, via A ntw erp 28
30
30
30
30
30
R e v a l ____________
30
little effect. The belief is practically universal that supplies
27
54
27
54
27
54
27 54
G o th en bu rg . . ___ 27 54
27 54
are to be abundant and that prices in the natural operation
30
30
30
30
30
B arcelona, d ire c t___ 30
20
20
20
20
20
20
G enoa ____________
of the law of supply and demand must further recede. The
35
35
35
35
35
T rieste . __________ 35
world’s available supply showed the noteworthy increase
45
45
45
45
45
Ja p a n --------------------- 45
the week of 6,500,000 bushels, against only 183,000
LIVERPOOL.—By cable from Liverpool we have the fol­ during
during the same week last year. To-day prices were irregu­
lowing statement of the week’s sales, stocks, &c., at that port: lar,
closing higher, owing mainly to covering of shorts.
Oct. 14.
Sales of th e w eek - ------ bales . 70,000
Of w hich specu lato rs to o k . . 3,000
Of w hich e x p orters too k — _ 2,000
Sales, A m erican______________ . 56,000
A ctual e x p o rt------------------------ _ 3,000
F o rw ard ed . . ____ _________ . 74,000
T o ta l sto ck — E stim a te d ........... .269,000
Of w hich A m erican — ........ .204,000
T o ta l im p orts of th e w eek___ . 65,000
Of w hich A m erican ------------ . 63,000
A m o u n t a flo a t--------------------- .430,000
Of w hich A m e r ic a n ..,____ .369,000

Oct. 21.
58,000
3,000
1,000
48,000
2,000
85,000
379,000
204,000
197,000
167,000
410,000
335,000

Oct. 28.
45,000
3,000
1,000
36,000
4,000
95,000
412,000
335,000
130,000
113,000
437,000
369,000

N ov. 4.
08,000
2,000
1,000
50,000
8,000
91,000
402,000
364,000
142,000
111,000
022,000
437,000

D A IL Y C L O SIN G P R IC E S O F W H E A T F U T U R E S IN N EW Y O R K .
S a t. M o n . T ucs. W ed. T hurs. F ri.
N o. 2 red w in te r-------------98 97
96 54 95 54 04 54 9 1 X
D ecem ber delivery in e lev a to r____9954 98 % 97
96% 96% 06%
M ay delivery In e le v a to r__________10454 1035s 10254 10254 10154 10154
D A IL Y C L O SIN G P R IC E S O F W H E A T F U T U R E S IN C H IC A G O .
S a t. M o n . Tiles. W ed. T hurs. F ri.
D ecem ber delivery in e le v a to r____ 90 54 90 54 89 54 89 54 8 7 54 8 8 54
M ay delivery In e lev a to r.................... 97
96 54 95 54 95 54 94 54 94 54
Ju ly deliv ery in e le v a to r_________ 95
9154 93 54 9354 92 54 9254

corn futures have at times shown strength, largely
The tone of the Liverpool market for spots and futures Indian
to covering of shorts in a market where the tendency
each day of the past week and the daily closing prices of owing
is plainly to rather overcrowd the short side. That is to say,
spot cotton have been as follows:
pretty much everybody is bearish in their convictions, and
the result is that from time to time the market becomes over­
Saturday. Monday. Tuesday. Wednesday. Thursday. Friday.
Spot.
sold. Everybody looks for a big crop and a gradual sagging
M arket, ]
of prices under its weight, with upturns of prices now and
Good
Good
Quiet. Moderate. Steadier.
Good
12:15
demand.
P. M. J
demand. demand. demand. then atthe expense of the bear interest, which in such circum­
stances as those which now surround the corn market is apt
7.72
7.85
7.65
7.72
7.81
Mid.Upl’ds
7.69
to become over-venturesome. The cold weather which has
7,000
10,000
12,000
4,000
12,000
10,000
latterly prevailed at the West has been favorable for curing
Spec.&exp.
500
300
500
500
1,000
500
the corn. The cash demand has been only fair. Some large
Futures. Steady a t Easy at Quiet a t Quiet at Steady at Steady at
at Chicago have at times been good buyers and such
Market \ 3® 4 pts. 7 @10 pts. 4@5 pts. 3 0 4 pts. 5 points 6@8 pts. houses
opened i advance. decline. advance. advance. decline. advance. purchases have occasioned brief rallies in prices. But the
influence of the wheat market has been plainly noticeable,
Market 1 Quiet at V’y st’y at B’ly st’y at Quiet at V’y st’y at Firm at
4
1 45407 754 0854 15403 54 5540654 25404 1254014 not to mention the prospective big supply. To-day prices
pts.
dec.
pts.
adv.
pts. dec. pts. adv. advanced on unsettled weather at the West, moderate re­
P . M. J pts. adv. pts. dec.
The prices ,qf futures at Liverpool for each day are given ceipts, light country offerings and covering.
below. Prices are on the basis of upland, good ordinary D A IL Y CLO SIN G P R IC E S O F N O . 2 M IX E D CO RN IN N EW
S a t. M on . Tues. Wed. T h urs. F ri.
clause, unless otherwise stated.
Cash c o rn .................
57 56 54 56 54 56 54 57 57 54
YORK.

27

ie prices are given in pence and 100ths. T h us, 7 69 m eans 7 69-100d.

O ct. 29
N o v . 4.

O ct.-N ov.
N ov.-D cc.
D e c .-Ja n .
J a n .- F e b .
F cb.-M ch.
M ch.-A pr.
A pr.-M ay.
Ju n e -Ju ly
Ju ly -A u g .

D ecem ber delivery In e lev a to r____ 55 55 54 55 54 55 54 55 54
M ay delivery In e le v a to r............... 57 55 54 57 54 5654
56 54
D A IL Y CLO SIN G P R IC E S O F CO RN F U T U R E S IN C H IC A G O .
S a t. M on . Tucs. W ed. T hurs. F ri.
12 54 1254 1254 4 12 54 4 12J4 4 1254 4 1254 4
46 54 46 54 47
46 54
p.m . p.m . p.m . p.m . p.m . p.m . p.m . p.m . p.m . p.m . p.m . p.m . D ecem ber delivery In e lev a to r____ 46
4954
M ay delivery In e le v a to r .............. . 4854 4954 4954 4954 49
(',<) Vq 51
Ju ly delivery In e lev a to r________ 49 54 50 54 50
50 M 49 54 50 54
67
7 61 54 51 53 54 49 54 54 55 54 51 53 63 61
Oats for future delivery in the Western market have
7 55 45 54 47 49 44 48 54 50 54 45 54 47 57
7 54 54 45 47 48 54 43 54 48 54 50 45 46 54 56 54 60 54 latterly shown a downward drift, partly owing to the large
7 55 45 54 47 54 49 54 45 49 54 50 54 45 54 47 54 57 61
7 55 54 46 48 50 45 54 50 51 46 48 57 54 6 1 54 prospective supplies and partly to heavy selling by promi­
7 56 46 54 48 54 51 54 46 54 51 54 52 54 47 49 58 62
nent Western interests. The consensus is that prices arc
7 56 46 54 48 54 51 54 46 54 51 54 52 54 47 49 58 62
7 57 57 49 % 52 54 47 54 52 54 53 54 48 50 59 62 54 destined to fall to a still lower level. No really new or
51 46 5154 52 54 47 49 58 62
7 56 46 48
striking features have developed. Some large interests have
7 55 54 43 54 46 49 44 54 49 50 44 46 55 54 59 54 bought December at times, but it seemed to be partly at least
—
S at.

M on .

T u e s.

% ed.

B R E A D ST U F F S.

T h u r s.

Fri.

Friday Night, Nov. 4 1910.
There has been only a moderate business in flour at best,
and in the case of some descriptions practically none. Prices
with quotations for wheat downto a new low record for the
season have naturally been depressed. At Minneapolis on
Tuesday they were reduced 10 cents per barrel. In existing
circumstances it is regarded by many as practically certain
that prices will drift to a lower and lower level until wheat
quotations show signs of permanent stability. The country
mills at the West as well as those at the larger centres report
trade as unsatisfactory.
Wheat has been declining and has, indeed, reached a new
low level for the present season. This fall of prices must be
attributed to the general situation at home and abroad, i. e.,
promising crop prospects, ample supplies, dulness of export
trade in this country, sluggishness of the flour trade and a
widespread conviction that prices are destined to reach a
still lower plane before the downward drift of values is
finally arrested. In Liverpool prices have felt the effects of
a large stock. The total there on Nov. 1st was 5,416,000
bushels, against 4,296,000 bushels on Oct. 1st. Russia,
moreover, has been reported to be offering cheap wheat



for the purpose of covering shorts. To-day prices advanced
slightly on light country offerings and covering of shorts.

D A IL Y CLO SIN G P R IC E S O F O A TS IN N E W Y O R K .
T h u rs,
W ed.
F ri.
T u es.
Sat.
M on .
37 54
37 54
S tan d ard s 37 %
37
54
37 54
37 54
38
38
38
N o.2w hlte 38 54
38
3854
D A IL Y C LO SIN G P R IC E S O F OA TS F U T U R E S IN CH ICA G O .
S a t. M o n . T ues. W ed. Thurs. F ri.
D ecem ber deliv ery in e le v a to r____ 31
31 54 31 54 31 54 31 54 31 54
M ay deliv ery in e le v a to r__________ 34 54 34 54 34 54 34 54 34 54 34 54
Ju ly d eliv ery In e le v a tr___________ 33 54 34 54 34 54 34 54 34
34 54

The following are closing quotations:

FLOU R.
W in ter, low g rad es____ $2 75 @53 50 K ansas stra ig h ts, s a c k .54
K ansas clears, sa c k s___4
W in ter p a te n ts _________ 4 7:
City p a te n ts_____________6
W in ter s tr a ig h ts ______ 4 15
R ye H o u r_______________ 3
W in ter clears___________ 3 75
G raham flour____________4
Spring p a te n ts__________ 5 25
Spring stra ig h ts________ 4 90@
Corn m eal, kiln d r ie d .. 2
Spring clears .................... 4 25® 4 35
G R A IN .
Corn, per bushel—
W h eat, per bushel—
N o. 2 m ix ed _____clev.
N . Spring, N o. 1.....................51 1154
N o. 2 m ix e d ____f.o .b .
N . Spring, N o. 2 __________ 1 10
R ed w inter, N o. 2 ________ 94 54 N o. 2 w h ite_____f.o .b .
H ard w inter. No. 2 ________ 99 54 R ye, per bushel—
.
No. 2 W e ste rn — f.o .b .
O ats, per bushel, new —
Cents.
S ta n d a r d s ________________ 3754 S ta te and Je rse y — - - N o. 2 w h ite _______________ 38 B arley— M alting . . . . . . .
N o. 3 w h ite_______________ 36 54 Feeding, o.l.f.. N . Y ..
F o r o th e r tables u su a lly g iv e n here, see p a g e 1224.

Cents.
57 54
N om inal
N om inal
81
N om inal
76 @82
N om inal

55 54
56 54
47 54

1271
JSToy. C 1910. |
THE CHRONICLE
The quantity of wheat and corn afloat for Europe on dates The value of these New York exports since Jan. 1 has been
mentioned was as follows:
___________________ $14,726,455 in 1910, against $17,823,459 in 1909.
The appearance of bids in the market from China for
Corn.
Wheat.
brown
sheetings, chiefly in lightweights, has been noted this
United
United
week, but no business has resulted, there being a margin of
Kingdom. Continent. Total. Kingdom. Continent. Total.
Bushels. Bushels. Bushels. Bushels. as much as J<£c. per yard at times between the ideas of buyers
Bushels. Bushels. 38.768.000
8.687.000 15.742.000 24.429.000 and sellers. The home demand for both brown sheetings
Oct. 29 1910.. 18.021.000 20.744.000
7.922.000 14.782.000 22.704.000
Oct. 22 1910.. 16,376,(XX) 21.072.000 37.448.000
5.610.000 6.290.000 11.900.000 and drills has been largely confined to limited quantities for
29.200.000
16.320.000
12,880,000
Oct. 30 1909..
6.120.000 6.205.000 12.325.000 near requirements, for which buyers have been quite content
Oct. 23 1909.. 13.200.000 17.280.000 30.480.000
5.270.000 5.440.000 10.710.000
Oct. 31 1903.. 16.320.000 15.120.000 31.440.000
Nov. 2 1907.. 15.060.000 13.680.000 29.640.000 7.840.000 4.840.000 12.680.000 to pay the ruling prices, these showing no change from last
The visible supply of grain, comprising the stocks in week. Like features have marked the business doing in
granary at principal points of accumulation at lake and coarse, colored cottons, and prices of these also are without
seaboard ports Oct. 29 1910, was as follows:
quotable change. Bleached cottons are firm, with a quiet
AMERICAN GRAIN STOCKS.
R ye,
Barley, movement. Probably the best business of the week has
Wheal,
Corn,
Oats,
bush.
bush.
bush.
bush.
bush.
6,000
86,000 come forward in standard prints, for which some consider­
121,000
710,000
New Y o rk ....................... 2.508.000
..........
25,000 able orders have been booked and a fair trade is reported in
54.000
40.000
B o ston.............._.......... .
46,000
3.000
Philadelphia.................. 604.000
530.000 115,000
the lower grades also. Staple ginghams and other woven
262,000
56.000
Baltim ore.........................
112.000
84.000
3.000
New O rleans...................
patterned fabrics are quiet but well sold. Napped cotton
4.000
Galveston......................... 155.000
343,000 goods are in moderate request without special feature. Print
396,000 1,003,000
Buffalo............................. 2.100.000
“ afloat_______ 1.307.000
6,000
... cloth yarn fabrics have had another quiet week, and, without
319.000
92.000
T oledo____ ._________ 1.485.000
25.000
............ pressure on the part of sellers, the tendency has yet been
132.000
213.000
D etro it..........— ............. 418.000
14.000
______ rather downward, 383^-inch 64 squares being available in
211.000 6,166,000
Chicago______________ 6.170.000
7.000
48.000
551.000
93.000
353.000
M ilwaukee....................... 3.665.000
69.000 1,158,000 some quarters at 5)4c-, although some of the Fall River mills
844.000
D ulu th------- -------------41.000 3.290.000 184,000 424,000 are still holding for 5%c.
Minneapolis--------------- 10,485,000
7.000
13,000
457.000
225.000
St. L o u is------------------- 2.238.000
253.000
218.000
WOOLEN GOODS.—Re-orders for men’s wear heavy­
Kansas City--------------- 4.515.000
21.000 1.729.000
7.000
Peoria......... .....................
weight woolens and worsteds for immediate delivery have
101.000
288,000
Indianapolis.................. .. 568.000
490.000 been more numerous this week and sellers with goods in
223.000
On L akes........................ 1.838.000 1,086,000
371.000 stock have had no difficulty in securing full prices. Re­
551.000
98,000
On Canal and River— 776.000
Total Oct. 291910.-40,120,000 3,510,000 17,023,000 433.000 2,958,000 orders for lightweight woolens and worsteds were of about
Total Oct. 221910.-37,978,000 2,996,000 16,989,000 421,000 2,848,000 average extent, with probably the better grades of all-wool
Total Oct. 301909.-27,002,000 2,654,000 13,264,000 642,000 3.703,000 fabrics receiving proportionately more attention than of late.
CANADIAN GRAIN STOCKS.
Iv UlOJ,
Corn,
Oats,
Rye, Barley, Most lines of worsted goods are well sold up and the advances
bush.
bush.
bush.
bush.
bush.
M ontreal........................... 886,000
119,000
483,000
............
30,000 recently noted are steadily adhered to. The low-grade
Fort W illiam ................. 4,577,000
................................................................................... fabrics continue without animation. For woolen and
Port A rth u r................. 3,144,000
............
............
............
............
dress goods a slight improvement in the demand is
Other Canadian.............. 2,424,000
............
............
............
............ worsted
noted, encouraging sellers to anticipate the coming forward
............
30,000
Total Oct. 29 1910 .11,031,000
119,000
483,000
............
33,000 of an extended business which has been so long delayed.
Total Oct. 22 1910.-10,415,000
97,000
576,000
............
52,000 Sellers are putting no difficulties in the way of buyers
Total Oet. 30 1909.-12,068,000
51,000
274,000
extending their operations.
SUMMARY.
Rye,
Barley,
Wheat,
Corn,
Oats,
FOREIGN DRY GOODS.—Men’s wear woolens and
bush.
bush.
bush.
bush.
bush.
433,000 2,958,000 worsteds are quiet and the demand for dress goods is largely
American ....................... 40.120,000 3,510,000 17,023,000
............
30,000 confined to sheer fabrics, in which a fair volume of orders has
C anad ian____________ 11,031,000
119,000
483,000
Total Oct. 29 1910.-51,151,000 3,629,000 17,506,000 433.000 2,988,000 been booked. Piece silks and ribbons are very firm. Linens
Total Oct. 22 1910. .48,393.000 3,093,000 17,565,000 421.000 2,881,000 are in quiet demand but the tendency of prices is against
Total Oct. 30 1909..39.070,000 2,705,000 13,538,000 612.000 3,755,000
Total Ont. 31 1908.-48,053,000 1,221,000 9,091,000 987.000 6,800,000 buyers. Burlaps have ruled firm throughout the week, with
a fairly active market.
T H E DRY GOODS TRADE.
and Warehouse Withdrawals of Dry Goods.
New York, Friday Night, Nov. 4 1910. Importations
importations and warehouse withdrawals of dry goods
With the exception of the large auction sale of carpets and at The
port for the week ending Oct. 29 1910 and since
rugs, the market this week has been free from developments Jan.this1 1910,
and for the corresponding periods of last year
of importance. The general demand in both the cotton and were as follows:
woolen goods divisions has ruled moderate, the actions of
buyers showing no spirit of enterprise, while on the part of
sellers little effort has been made to induce business at other
than prices prevailing at the close of last week. The near
approach of the elections has no doubt contributed largely
to the prevailing disposition. How much business is being
held back pending election results it is of course not possible
to indicate, but from the general expressions heard around
the trade it is probably quite considerable, and no matter
what may be the election outcome an expansion in the volume
of business is expected to follow. In some degree also the
expressmen’s strike in New York has interfered, not so much
in the primary market as in the retail distribution of mer­
chandise. The general tone is steady, but at the same time
it is noticeable that Sellers are not so difficult to deal with in
staple lines of cotton goods as they were a little while ago.
Manufacturers who have had machinery lying idle are in­
creasingly desirous of resuming operations, and did the
outlook for raw material permit it, there is no question but
that they would be offering inducements to buyers to aban­
don their present conservative policy. The raw material
situation, however, continues perplexing, and a serious handi­
cap to the mills. Weather conditions have been somewhat
more favorable to the woolen goods division, inducing rather
more buying of heavyweights for immediate delivery; but
there is no change otherwise. The auction sale of carpets
and rugs to the value of about .$4,500,000 has been in progress
all week, with somewhat irregular results. Early prices
were considered quite satisfactory, but latterly have proved
somewhat disappointing.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week ending Oct. 29 were 4,265
packages, valued at $280,675, their destination being to the
points specified in the table below:
New York to October 29—
G reat B rita in __________________
O ther E u ro p e . . . _____ ____
C h ina---------- -----------------------------I n d i a ------ ---------------------------------A rab ia....................... - .............................
A fr ic a ____________ ______________
W est In d ie s-----------------------------Mexico . . ----------------------------------C entral A m erica-----------------------S o uth A m erica......................................
O th er co u n tries....................................
T o ta l..........................- ........................




Since
W eek. J a n . 1.
1,730
797
57,388
12,617
12,696
6,174
25,284
1,658
11,087
39,728
40,326
209,485 IBS

Since
W eek. J a n . 1.
1,622
88
54
943
160,941
250 14.531
24,024
50 13,600
1,060 34,705
68
1,455
272 11,736
2,888 45,648
383 17,441
5.113 326,646

1272
B

m

THE CHRONICLE

r t . a w

>

C it y

^ I x ie

D j -t / h i t m e n t .

( P t i - c m

i x l j e .

PUBLISHED WEEKLY.
Terms of Subscription— Payable in Advance

F o r O ne Y e a r .........................................................
« io on
F o r Six M onths.............................................................. 0 oo
E uropean S u bscrip tion (including po stage)............. ” 1!!” ! " ! ] " ." " " ] 13 0 0
E uropean S ubscrip tion six m ontlts (including po stage).......................... 7 50
A n n u al S ubscription in L ondon (including po stage)................................ £ 2 14s.
S ix M onths S u bscrip tion in London (including p o stag e).........................£ 1 I t s .
C anadian S u bscrip tion (inoluding postage) ...................................................$ 1 1 5 0
Su bscrip tion includes fo llo w in g Su p p lem en ts—
B ank and Q uotation (m onthly)
I S ta te and C ity (sem i-annually)
R a ilw ay and I n du strial (ouartorly) elec tr ic R ailw ay (3 tu n es yearly)
R ailw ay E arn in g s (m onthly)
| B a n k er s ’ C onv en tio n (yearly)
Terms of Advertising— Per Inch Space

T ra n sie n t m a tte r por inch space (14 agato lin e s)............................................ $ 4 2 0
( T w o M onths
(■ < tim e s).................... . .' 22 00
S tan d in og B u siness C ards \< Six
o7i r M
^? onths
M onths (2(5
(13 tim
tim ee s)................................
s)................................ 29
50 00
00
v. T w elv e M onths (52 tim e s)................................... 87 0 0
C H IC A G O O FFICE!— P lin y B a rtle tt,!>13 M onadnock Block; T el. H a rris o n 401
LO N D O N O F F IC E —E dw ards & S m ith, I D rapers’ G ardens, E. C.
W IL L IA M B . D A N A C O M PA N Y , P u b lis h e rs ,
P . O . b o x 0 5 8 > F r o n t . P i n e a n d D c p e y s te r S ts ., N e w Y o r k .

M UNICIPAL BOND SALES IN OCTOBER.

Our records show that the amount of municipal bonds sold
last month was $25,309,906, or almost 9 millions more
than the largest total for any previous October. There
seems to be a very good demand at present for this class of
investment, the bonds offered attracting a large number
of bidders. It will be noted, however, that very few issues
of 4% bonds arc being marketed, the majority of the se­
curities being placed paying 4J^% and better. Two large
4% issues offered without success last month were $7,000,000
of New Orleans, La., bonds and $6,500,000 of Omaha, Neb.
There were no bids submitted for either issue.
The larger and more important sales made in October
were as follows: San Francisco, Cal., $1,000,000 5s and
$144,000 4J^s; Memphis, Tenn., $575,000 4 ^ s and $435,000
6s; Cleveland, O., $790,000 4.10s; Los Angeles County, Cal.,
$525,000 4j^s; lloanoke, Va., $500,000 4^s; Seattle, Wash.,
$500,000 4j^s; Springfield, Mass., $740,000 4s; Atlantic
City, N. J., $377,000 4*^s, and Cuyahoga County, Ohio,
$300,000 4^s. The city of Chicago sold $3,500,000 4s last
month; this sale is conditional on the bonds being voted
next Tuesday (Nov. 8). The list also includes $3,278,000
3s and $1,200 4s of New York City, which were taken by
the sinking funds.
In addition to the $25,309,906 long-term bonds placed in
October, there were negotiated $38,040,191 temporary obliga­
tions. As stated on many previous occasions, these short­
time loan3 are always excluded from our totals, as they do not
represent permanent debt additions. We also report sepa­
rately debenture issues by places located in the Dominion of
Canada. These latter amounted to $2,479,232 last month.
The number of municipalities emitting bonds and the num­
ber of separate issues made during October 1910 were 272
and 392, respectively. This contrasts with 242 and 341 for
September 1910 and 345 and 426 for October 1909.
For comparative purposes we add the following table,
showing the aggregates for October and the ten months for
a scries of years:
M onth of
For the
M on th of
For the
October.
Ten M onths.
October.
Ten M onths.
1910. ____$25,309,906 $254,152 855 1 9 0 0 ... ..$ 10 ,4 21 ,1 85 $113,615,626
1909. ____ 16, $77.838 28 8 ,7u7,287 1 8 9 9 ... ... 9,314,854 104,341,291
1908. ____ 14,078,829 257,319,946 1 8 9 8 .. . . 4.906,607
88,057,166
1907. . . . . 9.793,358 209,516,322 1 8 9 7 ... . . 6,872,293 113,259,756
1906. ____ 14,819,277 167,971,622 1 8 9 6 ... . . 4,088.463
60,917,879
1905. ____ 7,915,496 148,937,223 1 8 9 5 ... ._ 6,697,012
98,950,928
1904. ____ 10,299,995 208,221,052 1 8 9 4 ... . . 8,685,435
99,140,271
1903. ____ 12,196,885 123,942.878 1 8 9 3 ... . . 11.839,373
52,813,939
1902. ____ 5,488,424 123,167,279 1 8 9 2 ... . 11,766,420
75,350,254
1901. ____ 9,779,197 109,103,1981

In the following table we give a list of October loans to
the amount of $25,309,906 issued by 272 municipalities.
In the case of each loan reference was made to the page in
the
“Chronicle" where an account of the sale is given.
Page.
N am e.
1 0 4 7 .. A bilene, Kan__

1047.
1275.

.
.
.
.
.
.

975.
1 1 9 5 --A urora, 111___________________
1195-. A voyelles P arlshS .D . N o. 35. La
1275--B akcrsfle!d Sch. D lst., C al____.
.

1275--Bell Center, Ohio.




Rate.
5
4
4 Vi
4
5
5
4 Vi
4 Vi
4 Vi
4

M a tu rity. A m o un t . P rice.
40,000
1928&1929
55,000 100
<11930-1950
75,000
1914-1938 125,000 100.40
1920
25,000
1927-1935
9,000 104.31
1940
50,000 100
<11920-1930
25,000 99.30
420,000 *100
1945
368,000
1920
9,000
1917-1920 (20,000 101.125
120,000 100.50
U1916
35.000 100.57
5
15.000
6
1912-1919
4,000
4 Vi 1915-1918
4,000 101.90
4 Vi al9 1 6
9,000 100
920,100
1911-1910
2,500 101.60

[V O L . L X X X X I .

Page.
N a m e.
Rate. M a tu rity. A m o u n t. P rice.
12 75--B eIlcfontalne, O hio___________ 5
21,000 106.95
97 6 --B elm ar, N . J _________________ 5 <11919-1939
1941
18,000) 100.17
9 7 6 .-B eim a r, N . J .................................... 5
1939
15,000/
11 9 5 ..
B everly, M ass____________ 4
10.000 101.40
1 1 9 5 ..
Big H orn Co. S. D.No.lO.VVyo. 6 1911-1920
1921
1,200 100.833
9 7 6 ..
B loom lngdale, N . Y ____ 4.65 1915-1939
15.000 100.13
1 2 7 5 .-B loom ington, 111______________4
<11919-1929
50.000 97.279
1 1 9 5 ..
B raw ley, C al_____________ 6
1911-1939
18.000 y 100
1113 . .
B ridgeton, N . J .................... 4 Vi <(1925-1940
50.000 101.254
1 1 9 6 ..
B rockton. M ass__________ 4
1914-1930
17,500
103.64
1 1 9 6 ..
B row nsville, T ex . (2 Issues)_______ 5 1930
30.000
9 7 6 ..
B runsw ick, M d__________ 4 H dl920-1940
5.000 100
1915&1920
1 0 4 8 -.B u llalo C ounty, So. D a k ______ 5
5.000
1 1 9 6 ..
C alhoun C ounty. Io w a......5 Vi
1913-1918 150’,000 100
1935
10 48 -.C am d en , N . J _________________ 4
10,000
1940
1 0 4 8 .. C am den, N . J ______________ 4
15.000
11 9 6 .. C annon Falls Sch. D lst., M inn. 4
30.000 100
11 9 6 .. C arbon C ounty, M ont______ 5 5
1930
40,000
105.31
11 1 3 .. C atasauqu a, P a ____________ 4 4
15,000 (3.95%
(basis
1 2 7 5 .. Cecil C ounty, M d___________5 5
1918
10,000 103.03
1048_.C ellna, O hio__________________ 44 yt
Vi 1925-1930
6,000
104.816
11 9 6 .. C ham paign C ounty, O hio__4
1912 & ’13 13,080 100.225
1 0 4 8 .. C hanute, K a n ......... ................ .. 455 1911,
1930-1939
40,000 102.025
1 1 1 3 .. Charles C ity, Iow a ( 2 Issu e s)..4 Vi4 Vi 1930
40,000 101
1 2 7 5 .. C herry Creek, N . Y ________ 4 4.40 1911-1939
29,000
1 1 9 6 .. Chicago, 111_________________4 4
1916-1930J 350,000 100.02
98.878
[3,150,000
98.3883
111 4 .. Chicago Ju n c tio n S. D ., O hlo.5
1922-1942
20,000
100.384
1 1 9 6 .. C incinnati, O hio____________ 4 4 <11930-1950
101.287
1 1 1 4 .. Clrclevllle, O hio____________ 4 4ViVi 1912-1926 150,000
15,000 103.753
1 0 4 8 .. C leveland, O hio____________ 4.10
4.10
1940
200,000 101.1335
1 0 4 8 .. C leveland, O hio____________ 4.10
4.10
1940
150,000 101.134
1 0 4 8 .. C leveland, O hio____________4.10
4.10
1940
50,000 101.134
1 0 4 8 .. C leveland, O hio____________4.10
4.10
1930
12,000 100.758
1 1 9 6 .. Cleveland, O hio____________4.10
4.10
1930
188,000
101.132
119 6 .-C leveland, O hio_______________ 4.10
4.10
1930
100,000 101.09
1 1 9 6 .. Cleveland, O hio__________ 4.10
1930
90,000
101.151
1 1 1 4 .. C leveland H eights, O hio___ 4 4 Vi 1911-1920
17,834 101,61
9 7 6 .. C linton, M ass______________ 4
1911-1920
14,000 100.41
11 9 6 .. Clyde, O hio________________ _ 4441 Vi
4
1918-1924
3,300 100.863
1 1 9 6 .. Clyde, O hio_____________ 5 5
1911-1920
12,800 102.75
1 1 9 6 .. Clyde, O hio__________________ I 55
1911-1920
2,700
102.74
1 2 7 6 .. Cold w ater, K a n _______________ 5 5 H <11920-1940
30,000
1 0 4 8 .. Cold w ater, M ic h ______________ 4
..
5 2 7 4 105.33
"l92l'& f922
l ’ooo 1 0 0
1048. . C oldw ater Sch. D lst., O hio_5
1 0 4 8 .. C om anche Co. C o m .S .D ., T e x . 5
1030
l ’soo 1 0 0
1 0 4 8 .. C orydon, Iow a (2 Issues).....4 H <11920-1930 45|000
9 7 6 .. C rockett C ounty Com. S. D .
<11915-1950
5,000 100
N o. 1. T e x ........... ................5
1 1 1 4 .. C uyahoga C ounty, O hio.......4 Vi
1911-1930 300,000 101.6*3
1911-1920
1 1 9 6 .. C uyahoga C ounty, O hio............. 4
59,000
100
1 1 9 7 ..
D alton, G a. (6 Issues)........ 5
____
125,000 . . .
1 1 1 4 ..
D aw son C ounty S. D . No. 38,
M o n t................................................ 6 <11915-1920
1,000 100
1 0 4 8 ..
D ay to n , Ohio (5 Issues)_4 Vi _____
26,800 .............
1 1 9 7 .. D ecatur, 111....................................... 4
1920-1930
75.000 .............
1 2 7 6 ..
D elaw are, O hio__________ 5
1912-1921
1,650 100.569
1 2 7 6 ..
D elaw are, O hio__________ 5
1912-1921
30.000 105.072
1 2 7 6 ..
D elaw are, O hio__________ 5
1912-1921
28,730 105.232
1 1 9 7 .-D elaw are C ounty, O hio______ 4 Vi 1911-1920
77,860 101.934
1 1 9 7 .. D unklin C ounty S.D .N o.2,M o. 0 1914-1930
54.000 . . . . . .
1 1 1 4 .. D uP age C ounty S. D .N o .4 6 ,111. 5 1912-1919
20.000 102.43
1 2 7 6 .. E ast O range, N . J . (2 Issu e s).. 4
1950
284,050
1 0 4 9 .. E ato n , O hio_________________ 4 Vi 1911-1015
2.500 100.36
1 0 4 9 .. E ato n , O hio................................ 5
1911-1915
11,918 101,636
9 7 7 .. E lbcrto n, G a______________ 5
25.000 . . . .
1 1 1 4 .. Ei R eno, O kia_______
5
‘" T o .id " "
50.000 100.502
1 2 7 6 .. El R eno Sch. D lst., O k la.....5
1935
75.000 ______
1 1 9 7 .. E uclid, O h io .. .....................
4 Vi
1,987 101.409
9 7 7 .. E uclid T w p. Sch. D lst., O hio. 4 Vi 1911-1940 30.000
104.032
1 2 7 7 .. F arg o, N o. D ak ____________ 5
15.000 102.006
1 l9 7 ..F a rm d a le Sch. D lst., C al...........5
15.000 ..............
1 2 7 7 .. F ento n, N . Y _______ _______ 4 u 1911-1925
9.000 ______
1 2 7 7 .-F tllm oreC o.S .D .N o. 129,M inn.. 5 <11911-1918
1.500 100
1049. . F lath ead C ounty, M ont___ __ <1 1 9 2 0 - 1 9 3 0 125,000 102.81
1114__Fostorla, O hio_________________ 4 Vi 1911-1920
9,301 101.612
9 7 7 .. F ran klin C ounty, I n d . . ....... 4
1911-1930
89.000 102.357
( 500 101.75
111 4 .-F rederick C ounty, M d_________ 4 Vi <11925-1940 { 8,000 102
160,500 101.69
1 0 4 9 .. F reep o rt, III________________4
1930
9.000 00.877
1 1 1 4 .. G allon, Ohio (11 Issues)....... 4 Vi
58,950 101.662
1 0 4 9 .. G arn e tt, K a n ______________ 5
1930
20.000 97
1 0 4 9 .. G arn e tt, K a n ______________ 6
19111920
30.000 100
119 7 . . G irard, O hio...............................5
19121916
10.000 102.76
1 2 7 7 .. G loucester, M ass___________4
1911-1920
30.000 101.76
977_.G loversvillc, N . Y ____________ 4
1.000 100
1114 ._ aiovcrsville, N . Y .........................4
1 2 7 7 .. G oldendaie, W ash. (2 Issu e s)..6 6 <(1915-1939
20,000
100
9 7 7 .. G rayson C ounty Com. S. D.
N o. 45, T e x ................................5 5 41915-1959
2,500
100
1 2 7 7 .. G reeley Sch. D lst. No. 6, Colo.5
1925
62,000 101.66
1 1 1 4 .. G reenburgh (Town) U n. Free
S. D. No. 2, N Y ........................ 44 Vi 1912-1927
80,000 101.09
1 0 4 9 .. G reenfield, M ass..................... 4
1911-1920
50,000 100.92
1114-_G reenfleid E’lre D lst N o. 1,
13.95%
Mass .................
.4
1911-1930
75,000
| basis
11 9 7 .. G rove City, M inn__________ 6 6
5,000 100
11 9 7 .. G uthrie G raded Com. S.D .,IC y.5 5
1930
9,000
1197. .H a m ilto n , Ohio (2 Issues)_____ 4 4 Vi 1911-1920
9,307 101.33
1 1 9 7 .. H am m ond, In d ................
4 Vi 1912-1921
70,000 102.523
1277. . H arbo r Springs, M ich__________ 5
1915-1929
45,000
9 7 7 .. H ardin C o u n ty , O hio_______ 4 Vi 1911-1915
20,000 100.801
1 1 1 4 .. H astlngs-on-H udson, N . Y _4 .3(
4.30 1 1912-1926
45,000 100.083
11 9 8 .. H enry C ounty, O h i o ______4 4ViVi
98,500 101.858
1 1 1 4 .. H erkim er, N. Y _
4 Vi 1911-1916
12,998
1 0 4 9 .. H ester School D lst., C al___ 5 5
6,000 100.421
1911-1912
1 0 4 9 .. H ickory, No. C aro__________6 6
25,000
1940
1 1 9 8 .. H ighland P a rk , 111__________ . 4 Vi
7,500 100
1920
1 1 9 8 .. H ighland P ark , M ich............4 Vi
31,000 104.516
1930
1 1 1 4 .. H ill School D lst,, C a l . . .......6 64 Vi
1,200 100
1922
12,000
1198__HUlman T w p. Sch. D lst., Mich 5
1911-1925
1912-1919
80,000
11 9 8 .. H illsboro C ounty, E’la ______5 5
1 0 4 9 .. H opkins C ounty Com. School
1930
1,340 100
D lsts. N os. 3 and 86. T e x .. . 5
11 9 8 .. H ouston Co. Com . S. D .t T e x5. 5 <(1912-1930
4,000
11 9 8 .. H uron C ounty, O hio_______ 4 4 Vi 1911-1922
24,344 102.07
12,000 104.16*
1 1 9 8 .. 1 0 .a C ity, Io w a____________ 5 5
978__Jacksboro In d . S. D ., T e x ____5 5 <11920-1950
5,000 100
1930
119 8 .. Jacksonville, O re___________6 6
30.000 101.023
1 1 9 8 .. Jasper, M i n n ............................4 4
8,500
1913-1919
11 9 8 .. Je ll D avis C ounty, T e x ____ 6 6
31,500
1 1 9 8 .. K ansas C ity, K an. (2 Issu e s)..5 5 1911-1920
68,864
1 1 9 8 .. K elthsb urg D rainage D lst., 111.6 6 1912-1928
47,189
1 2 7 8 . _K enesaw , N eb_____________ 4
<11915-1930
4,500 100
1 1 1 5 .. K enton , O hio______________ 54 Vi
2,700 103.222
1 1 1 5 .. K enton , O h io .__ ___________5 5
8501
...........4 4ViVi
1 1 1 5 .. K enton , O h i o .....
1,800 V 101.215
1 1 1 5 .. K enton , Ohio .
55
1.545J
1 1 9 8 .. K enton , O hio..............................4 4ViVi
2,000
1 1 9 8 .. K inney C ounty, T e x ...............6 6
1011-1915
44,500
9 7 8 .. L ake C ounty, O hio................. 4 4ViVi 1912-1920
28,000
101.851
1 1 1 5 .. L ansing, M ich..........
. . 4 Vi
13,000
1 1 1 5 .. L ebanon Sch. D lst., P a .......4 4
123.000 100
1 1 9 8 .. L exington, K y .................. . . . 86
51,060 100
1 1 9 8 .. L exington C ounty S. D . No. 29,
So. C aro_______________ ____ 0 6
1921-1930
10,000
1 2 7 8 .-L exin gto n S. D. N o. 1. N eb . . 4 Vi <(1919-1929
10,000 100
1 2 7 8 .. L lndalc In d . Sch. D lst., T e x ..5 5 <11920-1950
12,000 100
1 0 5 0 .. L ogan C ounty, O hio_______ 4 4, . Vi 1911-1917
19,000 101.057
9 7 8 .. L orain, O hio________________4 4ViVi
20,000
1920
1 0 5 0 .. L orain, O hio.............. ......... . . 4 4ViVi 1012-1921
30.000
111 5 .. Los A ngeles C ounty, C al.....4 4 Vi 1015-1949 525,000
1 1 1 5 .. Louisville, K y _____________ 44
306,009 100
1950

n o t

. 5 iu

10 .]

THE CHRONICLE

Page.
N a m e.
Rate. M atu rity. A m o un t Price.
20,000
1115 L ovell, W y o ...................................... 6 d l 925-1940
80,000 105’ 51*
10 5 0 -.L o w er M erlon T w p. S. D ., P a . 4 X .....................
22,357 101.274
1 1 9 8 ..
L ucas C o unty , O hio_____ 4 X 1912-1915
16,918 102.583
1 0 5 0 ..
L ucas C o unty , O hio_____ 4 X 1912-1922
9 7 8 ..
M cCulloch C ounty Cora. S .D .
5.000 100
N o. 7, T e x __________________ 5
<11915-1950
4.000 100
9 7 8 .-M cL ean In d . S. D .. T e x ............. 5
1950
21,000 100
9 7 8 ..
M anchester, N . H ......... ...1930
85.000 104.94
1115._M angum , O k la _______ ________ 5
1935
27.000 102.827
1278. .
M arblehead. M ass...............4
1911-1929
5.000
9 7 8 .. M art In d . Sch. D lst., T e x ____ 5
1930-1950
3.500 100” "
1 1 9 9 ..
M auch C hunk, P a _______ 3 X -----------------1.000
11 99 __M ayesC o un tyS . D . N o. 8 ,O kla 6
1920
800
1 1 9 9 ..
M ayes C ounty S .D .N o .17,O kla 0 .................
7,850 100
1199-_M aysvllle, K y ................................ 6
15.000 108.73
1940
1 1 9 9 ..
M edford, M ass___________ 4
5.000
1920
1 1 1 5 ..
M elrose. M ass____________ 4
275.000 101.281
1945
1 1 1 5 ..
M em phis, T c n n .................... 4 X
300.000 101.283
1945
1 1 1 5 ..
M em phis, T e n n __________ 4)4 1911-1915
435.000 102.40
1115--M em phls, T en n ............................... 6
50.000 102.02
1930
1 2 7 8 ..
M eridian, M iss___________ 5
40.000
1 1 9 9 ..
M eridian, M iss. (3 Issues)_-75.000
'"T9~3‘<T"
1 0 5 0 ..
M iddletow n, N . Y . ............ 4
50.000 102.34
1 1 1 5 .-M iddletow n Sch. D lst., P a ------4)4 <11930-1950
5.000 100
9 7 8 ..
M ilford In d . S . D ., T ex -5
24.000
1930
1 1 1 5 .. M ississippi..................................- - - 4
67.000
1930
1 2 7 8 .-M ississip p i____________________4
104.08
1 2 7 8 ..
M odesto, Oal. (4 Issu es).- - - - - 5 1910-1949 100.000
9.500 100.336
1050,-M onguagon T w p. S. D ., M ich. 4)4
2,300 101.086
lV n -io ii
1 1 9 0 ..
M ontgom ery C ounty, O h io ... 4)4
3.000 100.71
1 1 9 9 ..
M ontgom ery C ounty, Ohio
.> 1912
6.000 100
1916-1927
1050. .M o rto n Sch. D lst. N o. 55, M inn 4
9 7 8 ..
M otIey C ounty Com. Sch. D lst.
5.000 100
dl915-1950
N
o.
6 . T e x .-------------------------- •>
a sa n t In d . S. D ., T e x .. o dl920-1950
7,500 100
978 .M t.t. PP le
10,000
leasan t Sch. D lst., P a - - - 5
1115 M
10,000
1050 M t. U nion Sch. D lst., P a ...........4)4
1930
25.000 103.694
ernon, N . Y ..........................4)4
079 M t.t. VV ernon.
20.000 zlOO
1933-1936
N . Y ..........................4
1199 .M
30.000 100
5
ulvanc, K a n .- -----1050 .M
8 .000 102.34
1911-1926
u rray (Town) S .D .N 0 . 6 .N .Y . 5
1050 .M
1935
.M uskogee, O kla..............................5
50.000
1278 ..M
gee C o unty , O kla............. 5
1930
80.000 100
1050 Nusko
avajo C ounty S .D . N o .l.A rlz . 6 1915,’20<V25
103.655
1279
4
1920
50,0001 103.777
1115
4
38,738]
1911-1940
1115
5
1940
50,000 1/101.622
1050
4)4 1913-1932 125,000 104.832
1115
46,000 101.045
1199
4)4
3
1959 3,278,000 ZlOO
1270
4
1959
1 , 2 0 0 Z100
1279
1110
4)4 1930-1950
75,000 103.161
4
1911 8:1912 16,000 100.14
1050 ..N o rfo lk C o unty , M ass25,000 108.312
1279
1950
4)4
1920
11,074
1116
7
4
1930
15,000 97.50
1279
1925
4
5,000 1 0 0
1279
100.951
1930
135,000
1110 . O klahom a C ity S. D ., O k la ... 5
1911-1926
16,000 101.795
1109 .O rang e, C al.................... ................... 5
1911-1920
5,000 101.795
1109 .O ran g e, C al____________________ 5
65,000 101.60
1051 .O rang e C o unty , N . Y ------------- 45 X 1912-1924
1915
14,600
1051 .O rlean s C ounty, N. Y ------------27,839
1051 .O shkosh, W ls— ........................... 0
1930
2 0 , 0 0 0 1 /1 0 0
1110
10,000
1200 ..P a r k e r, So. D a k ---------------------- 5
1940
103,000) 104.77
4(4
1279
4 'A
1933
70,000]
1279
30,000
1279
5 <11920-1950
2,500 106
979
4
1915-1924
18,000 100.15
1200
1914-1934
14,000 106.70
1116 ..P ig eo n , M ich_________________ 5
5 (11911-1913
30,000 100
1200 ..P lain field, N . .1 ...................... ..
30,000
1116 ..P la in s T w p. S. D ., P a . ______ 5
157,500 103.835
1200 ..P o c a h o n ta s C ounty, Io w a------ 6
1116 ..P o c a te llo , Id a h o -------------------- 5 (11921-1931 164,788 100
56,500 108.814
1200
170,871 [100 to
1279 . . P o r t l a n d , O r e .
1100)4
352,529
1 2 7 9 .. P o rtla n d , O re....................................6 6
50,000 101.39
r1912
1 1 1 6 .. P o rt of P o rtla n d , O re------------- 6 6
( 1911
15,000 100 557
11913
7,000 102.019
204 100.666
1911-1915
1 2 0 0 . .P re b le C o unty , O hio.....................4 )4
520 100.576
1911-1915
1 20 0 . .P re b le C o unty . O hio__________ 4 X
1 2 0 0 . .P re b le C o unty . O hio__________ 4 )4
240 100.608
1911-1015
1200 . .P re b le C ounty, O hio__________ 4)4
368 100.502
1*11-1915
1279 .P rin c e G eorge's C ounty, M d .. 5
8,00* J 107 to
1940
) 109 X
1116. .Q u incy, M ass-------------------------- 4
1911-1916
6,0001 100. 88
1116. .Q u in cy , M a s s ................................4
1911-1914
4,000/
1116. .lta c ln e , W l s . . ________________4)4
1911-1930
21,00* 101.714
1 20 0 . .R a cin e , W ls. __________________4)4
10,009 ______
1051. .R ich ard so n C ounty D rainage
D lst. N o. 1, N eb ...................... 6
1015-1925 205,00* 10*
1920-1930 300,000 109
1279. .R iv ersid e Irr. D lst., Colo_____ 6
1116. .R o a n o k e , V a. (4 Issues)............. 4)4
1940
I410,00*
\ 75,000 10*
15.000 z l0 9
1940
1200 . .R o c k p o rt, O hio_______________ 4)4
15.000 107. *0
19151920
1279. .R o n a n Sch. D lst., M ont---------- 6
15.000
.R
o
ss
School
D
lst.,
C
al_______
1 0 .0 0 0
1051.
15.000
1051. .S t. A lbans, V t------------------------ 4" "1918-1926
1925
14.000 101.135
1051. .S t. C harles. M ic h ...................... 4 H 19121930
20.000 103.175
1200 . .S t. Jo se p h , M ich______________ 4)4
20,000 101.625
1920
1116. .S alem , O re ------------------- ---------- 5
40.000 100
1051. Salm on In d . S. I). N o. 1, Idaho 55
2,500 10*
d 1915-19 50
980. San B enito In d . S. D ., T e x .. .
19141938
600,0001
1200 . .S a n F rancisco, C a l....................... 5
1913- 1932 200.000) 103.859
1 20 0. S an Franclsoo, C a l....................... 5
1912-1931 200,0001
1200 . .S a n F rancisco, C a l........ .............. 5
1014-1937 144.000J
1 2 0 0 . .S a n F rancisco, C a l--------- — 4)4
6,000 100
980. .S a n S aba In d . Sch. D lst., T e x . 5 dl915-1930
1911-1950
40.000 100.025
1051. .S a n ta B arb ara, C al----------------- 4)4
19111940
45.000 102.50
1052. .S a n ta P au la. C al--------------------- 5
40.000 100.03
980. .S a ra n a c L ak e, N . Y __________ 4)4 1917-1926
1930
15.000 100.21
980. .S a ra n a c L ak e, N . Y __________ 4)4 1916980. .S a ra n a c L ak e. N . Y . .................. 4.40 1040-1967
28.000 100.17
1939
980. -S aran ac L ak e, N . Y __________ 4.45 191515.000 100.21
980. .S a ra n a c L ak e, N . Y _ ................. 4.45 1915-1932
9,000 100.17
1116. .S a ra to g a C o unty . N . Y .
1920-1922
5
50.000 107.046
1201 . .S e a ttle , W ash ______
1930
500,000
4)4
1280. .S edro-W ooley, W ash
* “ 6
40.000 l"o6" """
1280. .S helbyvlllo S ch. D lst., fn d * 4
1912- 1920 98.000 100.51
1280. .S h erid an C o unty , N o. D ak" 7 dl927-1957
50.000 100
1280­ .S leep y E ye S ch. D lst., M inn 5
1917
12.000 101.50
1 2 0 1 . .S o u th B end, I n d ______
20,000 103.08
1930
4
1116. .S o u th H aven, M ich._
54,000
1 2 0 1 . .S o u th R iv er, N . J . (3 Issues)"
19 40"" 139,500 100
980. .S pringfield, M ass.................. ' 45
1911-1950 400,0001 104.679
980. .S pringfield. M a ss...................
1911-1910 340,000/
“ 46
1280­ .S pringfield, O re_______
50.000 100.30
1201 ­ .S p rln g w a tc r S. D . N o. 1, N . Y" 5
8,800 100
1052. .S ta p le s, M inn...........................
6
2.000 ftlOO
1052. .S ta p le s, M inn......................
6
1.000 100
11 1 0 ­ .S ta rk v ille , Miss. (2 I s s u e s )... 6
16.000
103.296
1930
te am b o at S prings, Colo .
1280­ .S
6
15.000
100
1280. .S te am b o at Springs, Colo____
85.000
1280. .S te rlin g , Colo.................................... a"
17.700 1*0
1280. .S u m m it C ounty, O hio (2 Issues) 5
19.000
980. -S ylvan la, O hio------------------------- 5
7,91* 102.089
1911-1915
980. .T errell Co. C o m .S .D .N o.1,T ex. 5 <(1915-1950
10.000 100
1201 . .T o led o , O h io -------------------------- 4
1015
80,000
981. .T o p e k a , K ans. (3 Issues)...........
1030
61,212
1052. .T re n to n , N . J . (3 Issues)---------- t *
191*
92,200
1052. .T re n to n , N . J .................................... 4
1*20
34.700



1273

Page.
N a m e.
R ate. M a tu rity. A m o u n t. P rice.
981.
. 4
1911-1930
15.000 100
1116.
5
1912-1919
2,000 100.55
1280.
- 4.30 1915-1938
36.000
100.348
1201­
. 5
1930
180,000
1052.
5
1940
50.000
100.634
1052.
. 5
25.000 100.10
1280. .T w in F alls, Id ah o (3 Issues). . 55)4
50,000
101
!94
_ _X a 1920-1930
1280. .U nderw ood, Io w a ________________
_
5,000
1280. .U nion, N . J . ....................................4 4)4X 1916-1923
80,000 100
1052. .U nion C o unty , N . J __________ 4 4)4X
1940
110,000 102.17
1052. .U nion C o unty , N . J __________ 4 4)4
>4
1920
150,000
1201. -U pper D arby T w p ., P a ______ 4)4
1940
28,000 1/100
981­ .V enango C o unty , P a ..................4 44)4XX
100.82
1052. .V icto ria In d . Sch. D lst., T e x . 55 <(1920-1950 175,000
12,000 100
1052. .W all, P a . . ............................ ............ 5 5
1940
35,000
1201 . .W apello C o unty , la . (2 Issues)___
66,000 105.31
1201. .W a rren C ounty S .D .N o .28. 111. 5)4
3,000
1117. -W ashing ton C o unty , P a ............. 4 45*X 1912,’13&’14 25,000
100
1117. -W aterto w n , M ass. (2 Issu e s).. 44
1920
9,000 103.03
1281­ .W au k eg an , I I I ............. ................... 5 5
1911-1930
35,000
100
1053. -W ellington. O hio (2 Issu e s).. . 5
6,528 104.139
1053. .W e st B ridgew ater, M a s s ____4 45 <(1915-1939
7,500
982. .W estfield, N . J ........ ........................ 4 )44 X
1940
6,876 100.363
1201. .W estfield, N . Y ........ ............
4)4
45 X 1914-1938 100,000 100.278
1201. .W h e a tlan d , W y o _____
<(1925-1940
45,000
1201. .W h e a tlan d , W y o .......................
5 <11920-1930
20,000
1201. .W h e a tlan d , W y o . .
55
<11920-1940
10,000
1053. .W h ite P lains, N . Y _____
4)4
1920
4
X
23.000 101.78
1053. .W ind sor, Mo. (2 Issues)______ 5 5
01925
55,000 100.195
1281. .W innebago C ounty. Iow a
6
1*11-1920
47.000 100
982. .W ln th ro p , M ass_______
" 446
1911-1920
55,000 101.27
1201 . .W ood C o unty , O hio__________ 5 5
1911-1915
50,000
101.945
1053. .W oo ster, O hio______ _
4
4 )X4 1911-1915
2,200 100.90
1053. .W oo ster, O hio_______ ______ 4)4
4 X 1911-1920
25,925 101.54
1053. .W ooster, O hio____________
4)4
1911-1920
4,400 101.53
1 2 0 2 . .W orland, W y o ___________
64 X <11925-1940
40.000
1 2 0 2 . .Y ellow stone C ounty Sch. D lst.
N o. 28, M ont...............................6 6 41913-1915
1,500 100
1053. .Y o nk ers, N . Y ____________
4)4 1911-1930
80,000 102.403
1054. .Y oun gsto w n, O hio (7 Issues) 5
45,460
T otal bond sales for O ctober 1910 (272 m unicipalities
covering 392 se p arate Issues).........................................fc$25,309,906
a A verage d a te of m a tu rity , d S u b je ct to call In an d a fte r th e earlier
year a n d m atu re In th e la ter year, k N ot Including 338.040,191 of tem ­
p o ra ry loans rep o rted , an d w hich do n o t belong In th e list, z T ak en by
sin king fund as an In vestm en t, y A nd o th e r considerations.
R E V IS E D

T O T A L S

F O R

P R E V IO U S

M O N T H S .

The follow ing item s, included in our totals for previous
m onths, should be elim inated from the sam e. W e give the
page num ber of the issue of our paper in which the reasons
for these elim inations m ay be found:
Page.
N am e of M u n icipality.
A m o un t.
1 1 9 6 ..D a le School D istrict. P a . (Jun e lis t) ...................................... ..........$10,000
12 7 6 _ .E n ld School D istrict. O kla. (A pril list)________________
200.000
1 1 1 6 .-T ren to n , N . J . (Septem ber list)___________________________ 50,000

W e have also learned of the follow ing a dd ition a l sales for
previous m onths:
P ace.
N am e.
Rate. M atu rity.
1113 --B cck ham C ounty, O kla______ 5
_
1 0 4 8 .-B eecher, 111....................................... 5
1913-1917
1920
1 1 9 5 ..
B lakely, P a ............................ 5
1113.B lu e H ill, N e b __________ 5 41915-1930
1 0 4 8 ..
D ark H ollow D rain. D lst. N o .l,
A rk. ( F e b ru a ry )___________ 6
_
11 14 .F u lto n . N . Y _______________________
1114__Glbson C ounty, I n d _________ 5)4 1911-1930
1277--G lasscock C ounty Com . Sch.
D lst. N o. 2. T e x ----------------- 6
41920-193*
1198-.H e m p h ill C ounty Com . Sch.
/ 1930
D lst. Nos. 1 & 2, T ex . (2 Iss.) 5 1 1950
1 1 1 5 .. Los A ngeles, Cal. ( A p r il) ____4 )4 ____________
11 15 .L o s A ngeles, Cal. ( M a y ) ________ 4)4 __
12 78 -.L u ca s C ounty, 'Io w a_________- 4..............
X 1917-1*20
1198--M ap le G ro veS . D ., Iow a (July) 5 1913,'16-’20
1278.-M o n tg o m ery , A la. (A u g u st)-. 5
1920
1 1 9 9 ..
N orth C ohocton an d A tla n ta
U nion Sch. D lst., N . Y ____5
..................
1 1 9 9 .. N orth D akota (13 Issues)_____ 4
1 0 5 1 .-O sw egatchle, N . Y. (Ju n e )____4
1911-1925
1 2 0 0 .-P a rk C ity, U ta h _______________ 6
1200- . Ph ilad elp hia, N Y ----------------- 4
*1912-1917
105 1. .
P leasanton C al.
---- 4 ) 4
1911-1930
1 2 8 0 .-R ushvlU e, N eb. (Ju n e )---------- 6 41915-1939
1 1 1 6 -.S t.D avid S .D .No.87,111.(June) . .
1911-1926
1 2 8 0 --S an du sky , M ich. (A u g u st).-_ 4 )4
1930
1 2 8 0 --S an d u sk y , M ich. (A u g u st)— 4 )4
1940
12 80 --S an du sky , M ich. ( A u g u s t)... 4 )4
1940
1 0 5 2 .. 5 .a ttle , W ash. (11 issues)------6&T .....................
1 0 5 2 ..
T e x a s _____________________ 3 41915-1950
1 1 1 7 ..
W arren to n , V a ___________ 5 41920-1940
1052.
-W ashing ton C ounty, P a _4
1053. .W e st Seneca (Town) U nion
F ree Sch. D lst. N o. 6, N . Y . 8
1*11-182*

A m o u n t. P rice.
$70,000 .............
5,000/100.50 to
\ 102.95
9.000 _______
8 .0 0 0

___

40.000 ..............
8,866
___
57.000 100
1,400 100
4.000 100
8.000 100
810,000
85o!66o
22,000 100
4,500 100
150,000 100
2,000
98 050 100
13 500 100
80 000 100
3,000 101
100
20,000 i/lOO.lO
15.000 100
8,000 100 20
9 000)
'
15.000) 101 838
lO.OOOj
‘
117,797
298,000
15.000 100
50.000 100
11,050

All the above sales (except as indicated) are for Septem ber.
These additional Septem ber issues will m ake the total sales
(not. including tem porary loans) for that, m onth $18,117,221.

Page*

B O N D S SO LD BY C A N A D IA N M U N IC IP A L IT IE S .
N am e.
Rate. M a tu rity . A m o u n t.

1911-1930
$15,762 P rice.
1926
3,500 100
1920
2,000
1930
15.000
1930
10,000
104.20
1911-1920
10,000
98.65
1930
80,000
.. 5 1910-1*14
1,090
101.00*
1910-1912
696
.... s6 1911-1913
1911-1913
417 100.632
.. 5 1911-1913
530 100.719
100.943
.. 8
538
.... 6•
1911-1929
8,000 100.895
1925
1,500 102.65
-.E lm lra . O nt.
.. s> 1911-1930
4.500 95.666
13,375
3,868
120 2 .Galt, O nt____ ________4 J4
1940
66,000
1 28 2 . .
Goderich, O nt.................... * 1911-1930 15,000 101
-,.
12 <2..Goderich, O nt...............................4)4 1911-1930
5.078 . ..
1 202. .
Gull Lake, Sask--------------- 6)4
1920
6.000 ...
1282,-Indlan Head, Sask-------------- 0
1916-1946
3.999
1 28 2 --Jasman S. D. No. 22*6, A lta.. 6 X
1.500 . ..
1203. .
Jasmin, Sask--- ------------6
1920 "
3.000
. ..
1117--KemptvllIe.
Ont........................
5
1911-1926
2,5001
100
1117-KemptvlIle. O n t........ 6 1911-1930
3.500/
1 282. .
Keppel Township, Ont__ |
2.500
.Klncardlne T w p ., Ont_________1911-1926
1925
3.000 97.333
1 28 2 --Le 8lle. Sask____ ________
6
1922
2.500
1203. . Levey, Sask___________ .
a 1911-192*
1.500 94.05
1203-.Mcdlclne Hat, Alta_____ * 5
127,000
1 1 18 --Montreal Protestant S.D., Que. 4
1939 "* /300.000 97.53
1203,-Muenster, Sask.......................... tH
1920 \ 50,000
2.506 100
1282--New
Hamburt.Falls,
O nt..................8
1911-194*
8 .0 0 0
1065..
Niagara
Ont.........
1*11-1*3* 16,79*
..
..
..
i-

5
6
6
6

1202

4 14

1118

8

1274

THE CHRONICLE

( VOL. L X X X X l

Page.
N am e.
Pate. M a tu rity. A m o u n t. Price.
N o. 11.— R elating to qualifications of Ju stices of th e S uprem e C o urt
1203. .O w en S ound, O u t ___
1925
-- 4 34
5,000
an d th e ir term s of office.
1283. .P e n tic to n , ii. C _____
100,000 100
N
o. 12.— E x em p tin g from ta x a tio n for fifteen years from th o d a te of
1203. .P ln c h e r Creek, A lta .
6
1930
6,000
full cash p ay m en t of th eir cap ital sto ck dom estic steam sh ip com panies en­
1055. -P o b c d a S. D . N o. 160
.. 6
1915
500 100
gaged
In foreign com m erce, a n d fixing th e conditions of such exem ption.
1055.
)- 5
431,340 102.07
N o. 13.— Increasing th e n u m b er of R epresentatives.
■
1 2 8 3 ..
P ro v o st, A lta _________ . . 6
1911-1920
4,000
N
o.
14.— R elatin g to th e division of th e S ta te Into jud icial d istric ts.
1 0 5 5 --Itev clsto k e, B. C .
.. 5
1960
50,000
N
o.
15.—
P
rovid
ing
for
th
e
levying
of
a
license
ta
x
.
1 2 0 3 .-R o se Plain Sch. D
._ 6
1911-1923
2,000
1 2 8 3 ..
5 .. M ichaels, A lta
.. 6
1911-1930
6,000
N evada. —General Revision of State Laws.—Chapter 236
1203--S haw lnlgan Palls,
1950
35,000
.)
5
of
the Acts of 1909 provides that the Justices of the Supreme
1283. .
5 .ra tfo rd , O n t________
4^
7,000
1940
1 2 0 3 ..
5 .rath m o re , A lta .
. 6
2,000 97.50 Court of this State shall constitute a commission who shall
111 8 ..
5.ro m e, A lb e rta ..
.. 6
1,500
1920
1 0 5 5 .. T ab er, A l t a . . .
11,500 96.852 on or before Jan. 1 1911 prepare a compilation and annota­
1 118. .
T hornb urs', Ont__
. 5
5,000 98.86 tion of all the laws of the State of Nevada, including the
1930
1 0 5 5 ..
W adena Sch. D lst
1,500
_ 6
1911-1920
State constitution and also the Constitution of the United
1203 ._ W estm o un t, Q ue.
1,035,000 98 'A
.. 4
1954
1 0 5 5 ..
W illard S. D. No. i
1,000 100.50 States.
._ 6
1911-1920
111 8 ..
W oodstock, O n t .
7,078
.. 4 'A
1 2 8 3 ..
Y ork T ow nship, Oi
4,671
- 4 H 1911-1920
New York City.—Budget for 1911.—The Board of Estimate
3,000
12 8 3 ..
Y ork T ow nship. Oi
- 4 H 1911-1920
and Apportionment on Oct. 31 finally adopted the budget for
T o ta l..................................................................................................$2,470,232
1911. The total appropriations show an increase of $10,­
A D D IT IO N A L SA L E S O F D E B E N T U R E S F O R P R E V IO U S M O N TH S. 949,065 over the figures for the current year, the aggregate
$174,079 335, as against $163,130,270 for 1910. More
Hate. M a tu rity. A m o un t. Price. being
Page.
N am e.
than one-half of this increase is accounted for in the amount
1 0 5 4 -.C arm an g ay Sch. D lst. No.
1911-1030
$1,000
2087, A l t a . ________________ 0
appropriated for the payment of deficiencies in taxation. The
1 2 8 2 ..
Ja c k Pine V alley Sch. D lst.
board last fall set aside $4,000,000 for this purpose, while
1920
1,000
N o. 2603. S a sk _____________5 X
1920
in
the 1911 budget the amount included for the payment of
1055__N llrem S. D . N o. 2081, A l t a .. 6
700
1911-1920
1 0 5 5 ..
P ln ch er C ity, A lta ________8
2,000
these deficiencies is $10,000,000. The total of deficiencies
1911-1920
1 0 55 _.P un n!ch y, S a sk _______________ 6
800
up to Dec. 31 1909 was $14,277,372, this item having

All the above sales of debentures took place in September. been largely increased because of the cancellation of
These additional September issues will make the total sales of franchise
taxes by the courts. Tho appropriation for the
debentures for that month $2,943,336.
redemption and payment of interest on city debt shows an
increase of $4,218,125. Other increases are as follows:
Police Department, $406,116; Magistrates' Courts (2 divi­
N ew s Item s.
sions), $229,150; Department of Education, $429,315; De­
C leveland, O hio.— Litigation.—A friendly suit has been
of Public Charities, $415,834, and Department of
started by City Solicitor Baker to test the validity of the partment
Water Supply, Gas and Electricity, $177,757.
$790,000 bonds recently put out by this city. Of the $790,­ Oregon.—Constitutional Amendments.—Eleveu amend­
000 bonds, 4 issues, aggregating $412,000, were sold on Oct. ments to the State Constitution will be submitted to the vot­
10 (V. 91, p. 1048), while the remaining $278,000, consist­
on Aov. 8. Four of these proposals were passed by the
ing of three issues, was sold on Oct. 24. V. 91, p. 119G. ers
of 1909 and referred to in the “Chronicle" of
The suit is the result of a recent ruling of the Attorney-Gen­ Legislature
Nov. 20 of that year. The other seven to be presented were
eral, who held that the bonds in question would have to be proposed
initiative petition, and are as follows: Giving to
approved by the voters, the city having reached the limit of cities and bytowns
power to license and regulate the
debt allowed to be incurred without a vote of the people. sale of intoxicatingexclusive
liquors within the municipality; women’s
The petition for an injunction was dismissed by Judge Keeler taxpaying suffrage amendment,
to taxpayers regard­
in the Common Pleas Court on Nov. 2 and the case was im­ less of sex the right of suffrage; granting
increasing initiative, referen­
mediately appealed and will be heard in the Circuit Court, dum and recall powers; prohibiting
the manufacture and sale
it is expected, on Nov. 9.
of intoxicating liquor and the traffic therein within the State;
D etro it—H ighland Park, M ich.— Annexation Election .— granting the people of each county the power to regulate
On Nov. 8 the citizens of Detroit will vote on the question of taxation and exemptions; providing for a verdict by threeannexing to that city the village of Highland Park. At the fourths of a jury in civil cases and another permitting coun­
same election a vote will be taken on ten proposed amend­ ties to incur an indebtedness beyond $5,000 for the building
of permanent roads.
ments to the charter of the City of Detroit.
among the foregoing proposals is the one relat­
D urant, Bryan C ounty, O kla.— Commission Plan of ingImportant
county indebtedness. This amendment alters Section
Government Defeated.—A special election held Oct. 25 is X ofto Article
XI of the Constitution so that counties may
said to have resulted in the defeat of a proposition to adopt issue bonds beyond
the limit of $5,000 now prescribed by
the commission plan of government.
law where the proceeds of such bonds arc to be used for the
Florence School D istrict, W illiam son County, T ex .— Liti­ construction of permanent roads. If adopted, this section
gation.—Suit has been started to enjoin the collection of taxes will read as follows. We indicate the proposed changes by
for $13,000 school-building bonds recently voted. It is italics and the portions to be eliminated we put in brackets:
stated that the case will be called in the 26th District Court singly
SE C TIO N 10.— No co u n ty shall create a n y d e b ts or liabilities w hich shall
or in th e agg regate exceed th e sum of five tho usan d dollars, except
on Nov. 7.
to suppress Insurrection or repel Invasion or to build perm anent roads w ithin
the
countu,
but debts Jor perm anent roads shall be incurred only on approval
Illin o is.— Jury in Bribery Case Disagrees.—The jury in
m ajority o those voting on the question [but th e deb ts of a n y co u n ty a t
the case of State Senator Pemberton and Representative ojthth eea sum
tim e this co n stitu tio n takes elTect shall be disregarded in estim atin g
to w hich such co u n ty Is lim ited],
Clark, who were tried before Judge Thompson in the Sanga­
mon County Circuit Court on the charge of bribery in connec­ W eir School D istrict N o. 70, W illiam son C ounty, T ex .—
tion with the award of a contract for State House furniture, Litigation.—Dallas papers state that a hearing will be had
reported at noon on Oct. 29 that they were unable to reach Nov. 7 in the District Court in the suit brought to restrain the
an agreement. It has been announced that the case will be collection of taxes for a $7,500 bond issue recently voted.
re-tried at once.
L ou isian a.— Constitutional Amendments. — Fifteen pro­
posed amendments to the State Constitution are to be voted Bond Proposals and N egotiations this week
upon at the general election next Tuesday (Nov. 8). It has have been as follows:
been announced that the arrangement of these amendments A berdeen, Chehalis C ounty, W ash .— B ond O ffering —
on the ballot will be as follows:
N o. 1.— P roviding th a t, for th e purpose of aidin g th e W o rld ’s P a n am a Proposals will be received until 7:30 p. m. Dec. 7 by P. F.
E xposition Co. to locate and build a t or near New O rleans a n exposition Clark, City Clerk, for $275,000 coupon Filling District No. 1
in celebration of the com pletion of th e P a n am a C anal, an a n n u al ta x of local-improvement bonds.
6-8 of 1 mill on th e do llar in the P arish of O rleans a n d H of 1 mill on the

do llar In all o th er parishes in th e S ta te shall be levied, beginning w ith th e
year 1911, and until th e sum of $4,000,000 shall hav e been collected. T he
m oney so raised will rem ain In th e S ta te T reasu ry un til It Is definitely de­
cided by Congress th a t th e exposition shall be located a t New O rleans.
W hen th is fact Is d e te rm in e d , the m oney will be paid o u t by th e S ta te
T reasu rer upon th e w a rran t of th e W o rld’s P an am a E xposition Co. for th e
purpose of securing a site a n d for th e co n stru ctio n , equ ipm en t a n d m ain te­
nance of the exposition.
N o. 2.—-A uthorizing th e Issuance of $6,500,000 4% bonds by th e W o rld ’s
P a n am a E xposition Co. a n d pledging for th e ir p ay m ent the ta x m entioned
In th e preceding am en d m en t, as well as a fu rth e r ta x to be levied exclu­
sively In th e City of New O rleans. See V. 91, p. 539.
N o. 3.— P roviding for a S ta te ta x of M of 1 m ill for th e co n stru ction an d
m ain ten an ce of public roads In th e S tate.
N o. 4 .— G iving th e H oard of C om m issioners of th e P o rt of New O rleans
pow er to erect and o p erate public w arehouses.
N o. 5.— P roviding for th e levy by parishes, cities or tow ns (P arish of
O rleans excepted) of a ta x of n o t less th a n th ree m ills on th e dollar for th e
su p p o rt of the public schools of th e S ta te .
No. 6.— A uthorizing th e S ta te to Issue SI 1,108,300 bonds a t no t exceed­
ing 4% Interest to refund a like a m o u n t of 4% bonds due Ja n . 1 1914.
N o. 7.— E stablishing th e office of A ssistan t A ttorney-G en eral, prov idin g
for th e ap p o in tm e n t of tw o A ssistan t A ttorneys-G eneral, llx in g th elrsa la ry
a n d prescribing their qualifications, pow ers and du ties.
N o. 8.— R elating to th e issuance of bonds for w ork of public Im provem ent
by m unicipal corpo ration s, parishes an d school, drainage and sew erage dis­
tricts (C ity of New O rleans ex cepted), a n d th e assessm ent of special tax es
to p ay for sam e.
N o. 9.— Providing for th e levying of 1-5 of a mill of th e S ta te ta x for the
purpose of supplem en ting th e ap p ro p riatio n a lread y m ade for th e pensioning
of C onfederate soldiers and th e ir w idows un d er A rticle 303 of th e C onsti­
tu tio n . Provided, said 1-5 of a mill shall be tak en from n o t m ore th a n a
6-m ill S ta te ta x for all purposes un d er th e ra te of ta x a tio n of th e S ta te .
N o. 10.— E stablish ing Ju v en ile C ourts.




D enom ination $100. In te re st (rate to be nam ed In bid) payablo ann u ally .
M atu rity “on or before 10 y ears” . Certified check d ra ft,o r certificate of
deposit for $2,500 is req uired . B onds will be rcau y for delivery w ithin
60 days a fte r th e acceptan ce of th e bids.

A lbany, Linn C ounty, Ore.—Bond Election.— A t an elec­
tion to be held Dec. 5 there will be submitted to the voters
proposed amendments to the city charter providing for the
issuance of the following bonds: $15,000 for the purchase of
a city park site, $40,000 for the construction of sewers and
$75,000 to refund an issue maturing Oct. 1 1911. The bonds,
if voted, will draw interest at not exceeding 5%,
A lbert L ea, Freeborn C ounty, Minn.—Bond Election.—
An election will be held Nov. 8 to vote on propositions to
issue the following bonds at not exceeding 5% interest:
street-im p ro vem ent a n d scw er-constructlon assessment bo nd s.
M atu rity “ n o t la te r th a n Ja n . 1 1021.’’
(city’s portion) Im provem ent bonds. M atu rity “not la ter th a n
Ja n . 1 1925.”
bo nd s.of which $15,000 will be used to fund o u tsta n d in g w arran ts
and $ , mo to ex te n d th e w ater m ain s. M atu rity not later th a n
Ja n . 1 1925.
In te re st sem i-annu al,

$91,000
18.000
20.000

A llegheny C ounty (P . O. P ittsb u rgh ), P a .— Bond Sale.—

We are advised by wire that $750,000 4% 30-year bridge
bonds offered yesterday (Nov. 4) were awarded to J. 8. &
W. S. Kuhn, Inc., of Pittsburgh for $750,112 50 and Interest.

$<*r. 5 1910.J

1215

THE CHRONICLE

A llen, P on totoc C ounty, O kla. —Bonds Voted.—The elec­
tion held Oct. 21 resulted in favor of the proposition to issue
the $25,000 6% 21-year water-works bonds mentioned in
V. 91, p. 894. There were 83 votes cast, all of which were in
favor of the issue.
A lliance, Stark C ounty, O hio.— Bond Offering.—Proposals
will be received until 12 m. Nov. 14 by Chas. O. Silver, City
Auditor,
for the following bonds:
$11,772 71 6% street-im p ro vem ent assessm ent bonds. D a te D ec. 1 1910.

In te re st M arch an d S eptem ber. M atu rity on S ept. 1 as
follows: $2,772 71 In 1011, $2,500 In 1912 a n d In 1913 and
$2,000 In 1914 an d In 1915.
13,784 18 5% street-im p ro vem ent assessm ent bonds. D ate D ec. 1 1910.
In te re st M arch a n d S eptem b er. M atu rity on S ept. 1 as
follows: $3,284 18 In 1911, $3,000 In 1912 a n d $2,500 In
1913, 1914 a n d 1915.
6,887 00 5% street-im p ro vem ent assessm ent bonds. D ate Dec. 1 1910.
In te re st M arch a n d S eptem b er. M atu rity on S ept. 1 as
follows: $1,887 in 1911, $1,500 In 1912 a n d 1913 an d $1,000
in 1914 a n d 1915.
11,414 4» 894 street-im p ro vem ent assessm ent bonds. D ate Dec. 1 1910.
In te re st M arch a n d S eptem ber. M atu rity on S ept. 1 as
follow s: $2,414 47 In 1911, $2,500 in 1912 an d 1913 and
$2,000 in 1914 an d 1915.
1,520 88 8% sa n ita ry sew er assessm ent bonds. D ate D ec. 1 1910. In ­
te re st M arch a n d S eptem b er. M atu rity on S ept. 1 as fol­
lows: $520 96 in 1911, $500 In 1912 a n d 1913.
3,570 A4 B% sa n ita ry sew er assessm ent bonds. D ate D ec. 1 1910. In ­
te re st M arch a n d S eptem ber. M atu rity on S ept. 1 as fol­
lows: $1,570 34 In 1911, $1,000 In 1912 a n d 1913.
2,900 80 4% (city’s portion) street-im p ro vem ent bonds. D ate Ju ly 15
1910. In te re st sem i-annual. M atu rity Ju ly 15 1919. Sfll
1,200 00 4% (city’s portion) street-im p ro vem ent bonds. D ate M ay 10
1910. In te re st sem i-annual. M atu rity M ay 10 1921. m i
8,500 00 4% (city ’s portion) street-im p ro vem ent bonds. D ate M ay 10
1910. In te re st sem i-annual. M atu rity M ay 10 1921.
5,000 4 H % bonds for th e purchase of land for subw ays. D ate O ct. 15
1910. In te re st sem i-annual. M atu rity O ct. 15 1920.
In te re st p ay ab le a t th e C ity T reasu rer’s office. C ertified check on a n a ­
tio n al o r S ta te bank for 3% of bonds bid for, pay ab le to th e C ity T reasurer,
is required. P u rchaser to furnish blan k bonds a t his ow n expense. Bids
m ust bo m ad e on blank form s furnished by th e C ity A ud itor. j A y - a 2 *i

A lliance School D istrict (P . O. A lliance), Stark County,
O hio.— Bond Election.—The voters of this district will have

submitted to them at the general election Nov. 8 a pro­
position to issue $50,000 school-improvement bonds.
A m ericus, Sum ter C ounty, G a .— Bond Election.— Reports
state that the election to vote on the proposition to issue the
$05,000 electric-light plant and sanitary-sewerage system
bonds (V. 01, p. 975) will be held Nov. 8.
A sbury Park, M onm outh C ounty, N . J . —Bonds Voted.—
The election held Nov. 1 resulted in favor of the proposition
to issue the $150,000 4V^% 40-year beach-improvement
bonds mentioned in V. 91, p. 1195. The vote was 540 to 333.
A shland, Jackson C ounty, Ore.—Bond Sale.— On Oct. 25
the $25,000 5% 10-20-year (optional) gold coupon electriclight. bonds described in V. 91, p. 1047, were sold to James N.
Wright & Co. of Denver at par and accrued interest, less
$175 for blank bonds, attorney’s fees and other expenses.
The bids received were at par and accrued interest less the
following
amounts for bonds and other expenses:
J . N . W rig h t A C o., D enver, leas $ 1 7 5 |S . A. K ean & C o., C hicago, less $800
W . N . Color A C o.. N . Y ., less 485 T hos. J . Bolger C o., C hic., less 1,225
Jo h n N uvcen <5» Co., C hic., less 6 9 5 (

A tchison , A tchison C ounty, K a n .— Bonds Authorized .—
Reports state that an ordinance providing for the issuance of
$13,960 to pay the cost of street improvements has been
passed.
A ttleborough, B ristol C ounty, M ass.— Bonds Awarded in
Part.—Dispatches state that of $65,000 4% 19-30-year
(serial) water bonds offered on Nov. 3 $24,000 were awarded
to A. B. Leach & Co. of Boston at 107.03. Date July 1 1910.
Bakersfield School D istrict, Kern C ounty, Cal.— Bond
Sale.—On Oct. 7 an issue of $4,000 6% bonds was awarded
to Jas. IT. Adams & Co. of Los Angeles at 101.90—a basis of
about
5.58%.
D enom ination $500. D ate S ept. 12 1910. In te re st an n u a l. M a­
tu rity p a rt y early from 1912 to 1919 Inclusive.
B allston Spa, Saratoga C ounty, N . Y.—Bond Sale.—We
are advised that $9,000 refunding bonds were disposed of on
Oct. 31 to the Ballston Spa National Bank of Ballston Spa
at par for 4^s. W. N. Color & Co. of New York City
offered
par for 4% s.
D enom ination $->00. D ate of $6,590 N ov. 1 1910, of $ 2 ,5 '0 D ec. 1 1910.
In te re st a n n u a lly . M atu rity $6,500 due from 1911 to 1023 Inc’uslve an d
$2,500 from 1911 to 1915 Inclusive.

B enton H arbor, Berrien C ounty, M ich.— Bond Election .—
The proposition to issue the $100,000 4.t^% park bonds
mentioned in V. 91, p. 895, will be submitted to a vote on
Nov. 8. Maturity $5,000 yearly from 1934 to 1939 inclusive
and $70,000 in 1940.
B iggs, B u tte C ounty, C al.—No Bonds Proposed.—In re­
ply to our inquiry as to whether or not the reports are true
that a committee has been appointed to attend the next
meeting of the Council and confer with the trustees in regard
to bonding the city for “at least $12,000,” to construct a
sewer system (V. 91, p. 740), the City Clerk writes us that
no bonds are to be issued and that none are being talked of.
B lackhaw k C ounty (P . O. W aterloo), Io w a .— B on d E lec­
tio n . —An election will be held Nov. 8 to vote on a proposition
to issue $25,000 county-home bonds.
B lanchester, Clinton C ounty, O hio.— B on d E lection . —A
$3,000 armory-site bond proposition will be submitted, it is
stated, at the general election Nov. 8.
B loom ington, M cLean C ounty, 111.—B ond S u lc. — On Oct.
28 the $50,000 4% coupon water-improvement bonds de­
scribed in V. 91, p. 1195, were awarded to Emery, Peck &
Rockwood of Chicago at 100.05 and accrued interest, less
$1,370 50. Other bids received were as follows:
N . W . H alsey A Co., C hicago-------------- P a r a n d accrued Itnercst less $1,430
E . H . R ollins A Sons, C hicago-------------- P a r a n d accrued In terest less $1,465
f f m . R . C om pton Co., C hicago-------------- P a r a n d accrued In terest less $1,727
A. B. Leach A C o., C hicago----------------P a r a n d accrued In terest less 1,737
A. G. E dw ards A Sons, S t. L o u is____________________________ P a r less 1,923
N ational C ity B an k , C hicago--------------- P a r a n d accrued Interest less 1,925
S. A. K ean A C o., C hicago---------------------------------------------- P a r less 1,950
T hos. J . Bolger A C o ..C h icag o------------- P a r a n d accrued Interest less 2,245
H arris T ru st A S avings B ank , C hicago____$48,270 a n d accrued In terest
M ercantile T ru st C o--------------------------------------- $47,635 a n d accrued In terest
F arson, Son A C o., C hicago----------- ---------------------------$5 , n.0 less expenses
M atu rity N ov. 1 1929, su b je c t to call a fte r N ov. 1 1919.

Brandenburg Graded School D istrict N o. 58 (P . O. B ran­
denburg), M eade C ounty, K y .— B ond O fferin g. —Proposals

will be received until 2 p. m. Nov. 25 by D. S. Richardson,
President Board of Education, for $1,500 6% gold coupon
bonds.

D enom ination $100. D ate O ct. 20 1910. In te re st an n u a lly In B ra n d e n ­
bu rg . M atu rity $100 yearly on O ct. 20 from 1915 to 1929 Inclusive. B onds
arc tax -ex em p t unless ow ned by local residents. N o d e b t a t p resen t. A s­
sessed v a lu atio n In 1910 $240,000.

Brem en, Fairfield C ounty, O hio.— B id s. —A list of the bids
submitted on Oct. 31 for the $1,650 6% coupon Sewer
District No. 1 (village’s portion) bonds, described in V. 91,
p. 976, follows:

M. S. P o n d , S o m erset_____ $1,710 3 2 |S ec. S av. B .A T . Co., T o l.$1,676 50
B rem en B ank C o., B rem en. 1,701 9 7 |S ta c y A B raun, T o led o ------ 1.657 75
In te re st sem i-annually a t th e V illage T reasu rer’s office. M atu rity p a rt
each six m o nth s from M arch 21 1911 to S ept. 21 1914 Inclusive. B onded
d e b t, n o t Including th e abo ve Issue, $2,250. F lo atin g d e b t, $2,000.
A ssessed v alu atio n for 1910 $334,130.

Brow n C ounty (P . O. B row nw ood), T ex .— B ond E lection . —

According to reports, an election will be held Nov. 14 to vote
on the question of issuing $50,000 additional road bonds for
Precinct No. 1.
Bryan C ounty (P. O. D urant), O kla.— B ond E lection . —An
election will be held Nov. 8 to vote on the proposition to is­
sue the $160,000 court-house and jail bonds mentioned in
V. 91, p. 740.
Buffalo, N . Y .— B ond S ales fo r October. ■— The following 4%
bonds were disposed of during October to the Sinking Funds:
$5,000 00 tem p orary-loan bonds d a te d O ct. 1 1910 a n d du e Ju ly 1 1911.
14,791 17 m o n th ly local-w ork bonds d a te d O ct. 15 1910 an d du e O ct. 15 ’11.
*100,000 00 m unicipal-building bonds d a te d O ct. 1 1910 a n d du e $5,000
y early on O ct. 1 from 1911 to 1930 Inclusive.
* Sale of th is Issue previo usly rep o rted In V . 91, p. 746.

Burnet C ounty (P . O. B urnet), T ex .— B onds V oted. —Ac­
cording to reports, an election held recently resulted in favor
of a proposition to issue $12,000 bridge bonds.
Cecil C ounty (P . O. E lkton), M d.—B ond S a le. — An issue
of $10,000 5% road bonds mentioned in V. 91, p. 895, was
awarded to Ilambleton & Co. of Baltimore at 103.03 and
accrued interest.
D enom ination $500. D ate Ju ly 1 1908. In te re st sem l-anaaul. M a­
tu rity Ju ly 1 1918.

Cherry Creek, Chatauqua C ounty, N . Y . — Bond Sale .—
B eaum ont N avigation D istrict, Jefferson C ounty, T ex .— An issue of $29,000 4.40% 1-29-year (serial) water bonds
Bonds Not Sold.—No satisfactory bids were received on was
awarded on Oct. 18 to Isaac W. Sherrill of Pough­

Nov. 1 for the $493,000 5% 10-40-year (optional) navigation
bonds described in V. 91, p. 351. We are informed that they
will bo ro-offered for sale later.
Belle Center, L ogan C ounty, O hio.— Bond Sale.—On
Oct. 31 the $2,500 5% 1-5-year (serial) gold coupon street­
crossing bonds described in V. 91, p. 1195, were awarded to
the Davies-Bertram Co. of Cincinnati at 101.60 and accrued
interest.
Other bids received were as follows:_________$2,538 00
H ayden M iller A G o.. C leveland _____

keepsie for $29,006, the price thus being 100.02.
D enom ination $1,000. D ate N ov. 1 1910. In te re st sem i-annual.
Chicago, 111.—Bids .—The following bids were received
on Oct. 25 for the $3,500,000 4% gold coupon (with privilege
of registration) city-hajl-construction bonds disposed of on
that day, as reported in V. 91, p. 1196:
Bidder —

A m t. bid fo r.

A m t. b td .A v . P r ic e-

Farw ell T ru st C o_____________________________ $350,000 $346,073 98.878
W m . A. R ead A Co., E . II. R ollins A Sons
New F irst N ational B ank, Colum bus .
_
. . . . 2.527,00
an d W m . Salom on A C o_________________3,500,000 >,443.50$ 08.3883
S ecurity S avings Bank A T ru st Co., T oledo
__________ 2,525 50 L ee, H lgginson A C o., Illinois T ru st A S av­
S tacy A B ra u a . T olcdoJ----------------------------------------------------------------- 2,520 75
ings B ank , C o ntinen tal A Com m ercial
B ank , W m . H . C om pton Co..
B ellefontaine, L ogan C ounty, O hio.— Bond Sale.— On WN ational
h ite, W eld A Co., E stab ro o k A Co.
an d B lodget A Co________________________3,500,000 3.430,800 08.28
Oct. 31 the $21,000 5% sewer-construction bonds mentioned F irst
T ru st A Savings B ank , H arris T ru st A
in V. 91, p. 976, were awarded to Stacy & Braun of Toledo Savings
B ank , M erchants’ L oan A T ru st
C o., N orthern T ru st C o., N . W . H alsey A
at
106.95.
The
bids
received
were
as
follows:
Co. an d A. B. Leach A C o__________ ______3,500,000 3,426,857 07.91
S tacy A B ran*, Toledo — $22,459 50 D avles-B ertram C o., C in e.$22,345 00
C itizens’ Safe D eposit A
P ro v id en t S avings B ank A
The above bidders are all of Chicago. As already re­
T ru st Co., T oledo............. 22,394 85 T ru st Co., C in c in n a ti.. 22,339 80
S p ltzer A C o.. T oledo____ 22,375 00 New F irst N at. B ank . C ol. 22,309 00 ported by us, these bonds have been sold subject to the ap­
Field, L o ng streth A Co.,
H ayden, M illerA C o.,C lev. 22,270 00 proval of the voters at the election to be held Nov. 8. See
C in cin nati............................ 22,370 00 W ell, R o th A Co., C ln cln . 22,236 90
T lllotson A W o lco tt Co.,
O tis A H ough, C leveland . 22,230 00 V. 91, p. 1048.
C le v e la n d .......... ............ 22,348 00 S. A . K ean A Co., C hicago 21,947 10
C hoctaw C ounty (P . O. C hester), M iss.—-Bond O fferin g.—
Seasongood A M ayer, Cin­
B reed A H arrison , C ln cln . 21,260 00
c in n a ti________ ________ 22,346 10
D enom ination $500.
D ate S ept.
,
. 1 1909. In te re st sem i-annu al. M a- Proposals will be received until 12 m. Nov. 7 by Dean
tu rlty Sop*. 1 I 989,
f ' su bject to call a fte r S ept. 1 1919.
Henson, Treasurer, for $10,000 6% jail-building bonds.



THE CHRONICLE

1276

[VOL. L X X X X I.

A u th o rity , Sections 331 and 333, C h ap ter 17, A n n o tated Code of 1006,
Ordinances have also been passed providing for the
a n d C h ap ter 184, page 102, A cts of 1010. D enom ination " n o t less th a n issuance of the following 4% coupon bonds:
$100 no r m ore th a n $1,000.” In te re st ann ually In New Y ork C ity. M a­
tu r ity 2 0 years, su b ject to call a fte r 10 years. Certified check for 1 0 % of $1,000 G erm ania S treet Im provem ent assessm ent bonds. D ate n o t la te r
th a n Dec. 31 1910. M atu rity M arch 1 1922, su b je c t to call a fte r
bidal.for, Cpay
ab leh as
to th
M arch 1 1911.
cbonds
on dition
ounty
hoe oTthreasurer.
e r bondedIs dreq
e buired
t. . ;j B ids riim,u st be un ­
30,000
H igh S tree t Im provem ent assessm ent bo nd s. D ate n o t la te r th a n
Christiansburg, Montgomery County, Va —Bond
.
N ov. 1 1910. M atu rity M arch 1 1922.
D enom ination $1,000. In te re st sem i-annu ally a t th e C ity T re a su re r’s
Proposals will be received until 8 p. m. Dec. 1 by E. office.
Hagan, Mayor, for $40,000 5% coupon water-works bonds.
Covington, Kenton County, Ky.—Bond Election.—Reports
i \?*'ere,sl*; 4 U?,? an<J D ecem ber a t th e Im p o rte rs’ & T ra d e rs’ N ational B ank
in New York City. M atu rity 30 years, su b ject to call a fte r 13 years. P ro­ state that a proposition to issue $100,000 park-improvement
posals for these bonds were asked for un til M ay 31 1010 (V. 00, p. 1253), bonds will be submitted to a vote of the people at the coming
b u t we were never advised as to th e result of th a t otlering.

Cincinnati, Ohio.—Bonds Authorized.—The City Council election.
has passed ordinances providing for the issuance of the fol­ Cude Drainage District, Leflore County, Miss.—Bonds Not
lowing 4% coujion bonds:
>>$ 'Mj
Sold.—Reports state that no satisfactory bids were received
$12,685 20-year Buck a n d B arnard stre ets Im provem ent (city’s portion) on Oct. 7 for the $42,500 6% 11-20-vear bonds described in
bonds. D enom ination $500 except one bond of $685.
,
35.000 )-year street-im p ro v em en t (city ’s po rtion) bonds. D enom ina­ V. 91, p. 818.
tion $300.
12,500 20-year sew er (city’s portion) bonds. D enom ination $500.
Dallas, T ex . —Bids Rejected.—This city rejected all bids
-y ear street-im p ro v em en t (city ’s portion) bonds. D enom ination received
on Oct. 26 for the $350,000 4)4% and $300,000
$500 or m ultiples thereof.
8.000 20-year P robasco A venue Im prov em ent (city ’s portion) bonds. (3 issues) 4% gold coupon bonds described in V. 91, p. 1114.
D enom ination $500 or m u ltiples thereof.
4,500 15-year Jo rd an S tree t w idening bonds. D enom ination $500 or
Dayton, Ohio,—Bond Offering.—Proposals will be re­
m u ltiples thereof.
6,560 20-ycar B ay M iller a n d N orth E lm stre ets Im provem ent bonds. ceived until 12 m. Nov. 28 by Geo. N. Bish, City Auditor,
D enom ination $500, except one bond of $560.
6.000 15-year H arrison A venue w idening bonds. D enom ination $500 for the following 5% coupon paving bonds:
2

1 0 .0 0 0 2 0

or m ultiples thereof.
2.000 10-year VVoodlawn A venue’ extension bonds. D enom ination $500
or m ultiples thereof.
6.000 20-year (city’s portion) bonds to Im prove W hitem an S treet H azen
A lley and.gH erm osa A venue. D enom ination $500 or m ultiples
thereof.
T he abo ve Ponds a re d ate d O ct. 15 1010. In te re st sem i-annual

In addition to the above, ordinances hive also been passed
providing for the issuance of the following 4% coupon bonds:
$25,000
300
33,500

4(P year C lifto n -A venue' w idening bonds. ’ DenortiTnatYoa s u a o
m u ltiples thereo f. D ate N ov. 1 1910.
10-ycar bonds to w iden th e Intersection of Bruce a n d K irb y Ave­
nues. D ate D ec. 1 1010.
20-year bonds to Im prove E den A venue, Jail V alley a n d E lm ore
S tre e t. D enom ination $500 or m ultiples thereof. D ate N ov. 1
3,500 20-year sew er-construction bonds. D enom ination $500 or m u lti­
ples thereof. D ate N ov. 1 1010.
In te re st sem i-annu al.
qA

Bond, Election. In addition to the proposition to issue
the $800,000 grade-crossing-abolition bonds to be sub­
mitted to a vote of the;people on Nov. 8 (V. 91, p. 817), the
question of issuing the $1,000,000 boulevard and park bonds
mentioned in V. 91, p. 51, will also be voted upon at the same
election.
Cohoes, Albany County, N. Y.—Bond Offering Postponed.
The offering of the two issues of 4% registered bonds, ag­
gregating $50,000, which was to have taken place Oct. 27
(\0_91, p. 896), was postponed indefinitely.
Coleman County Common School District No. 30, Tex.—
Bonds Registered.—On Oct. 20 the State Comptroller regis­
tered $500 5% 5-10-year (optional) bonds.
Coleman County Common School District No. 52, Tex.—
Bonds Registered.— On Oct. 26 $3,296 5% 10-20-vear (op­
tional) bonds were registered by the State Comptroller.
Goldwater, GomanchTlDounty.^an'.—
Itls
stated that an issue of $30,000 5)<j% 10-30-year (optional)
water and light bonds was awarded on Oct. 20 toS. A. Kean &
Co.
for $31,600—the price thus being 105.33—a
basisofofChicago
about 4.82%.
Columbia, Boone County, Mo.—Bond Sale.— The $125,000
coupon water and light-plant construction bonds
offered on Nov. 1 (V. 91, p. 976) were sold to the Win. R.
Compton Bond & Mortgage Co. of St. Louis for $125,031 25
the price thus being 100.024. Other bids were as follows:

$17,500 Springfield S tree t bonds. D enom ination $1,000, except one bond
of $500. M atu rity $1,500 O ct. 1 1912 a n d $2,000 yearly on O ct. 1
from 1913 to 1920 Inclusive.
4.000 X enia A venue bonds. D enom ination $1,000. M atu rity $1,009
on O ct. 1 In each of th e years 1913, 1916, 1918 an d 1920.
12,500 Springfield S tree t bonds. D enom ination $1,000, except one bond
of $500.
2.000 D uto lt S tree t bonds. D enom ination $1,000. M atu rity $1,009
on O ct. 1 In each of th e years 1915 a n d 1920.
10.000 X enia A venue bonds. D enom ination $1,000. M atu rity $1,009
yearly on O ct. 1 from 1911 to 1920 Inclusive.
10.000 L inden A venue bonds. D enom ination $1,000. M atu rity $1,009
yearly on O ct. 1 from 1911 to 1920 Inclusive.
7,800 L ehm an S treet bonds. D enom ination $1,000, except one bond of
of $800. M atu rity $800 O ct. 1 1913 and $1,000 yearly on O ct. 1
from 1914 to 1920 Inclusive.
3,700 H ickory S tree t bonds. D enom ination $1,000, except one bond of
$700. M a tu rity $700 O ct. 1 1013 and $1,000 on O ct. 1 In each of
th e y e a rs 1916, 1918 and 1919.
2,500 H ickory S treet bonds. D enom ination $1,000, except one bond of
$500. M atu rity $500 O ct. 1 1013 a n d $1,000 on O ct. 1 In each
of the y ears 1917 and 1920.
D ate O ct. 1 1910. In te re st sem i-annu ally In New Y ork. Certified check
on a national bank for 5% of each Issue of bonds bid for, pay ab le to th e
a u d ito r. Is req uired . B onds to be delivered N ov. 28.

D elaw are, D elaw are C ounty, O hio.—Bond Sale.—Reports
state that on Oct. 29 the $1,650 sewer, the $30,000 street
and the $28,730 street 5% coupon assessment bonds de­
scribed in V. 91, p. 1048, were awarded to Stacy & Braun of
Toledo at $1,659 40 (100.569), $31,521 79 (105.072) and
$30,233 32 (105.232), respectively. Maturity part of each
issue yearly on Sept. 1 from 1912 to 1921 inclusive.
D e W itt County Com m on School D istrict N o. 26, T ex .—
Bond Offering.—Proposals will be received until Nov. 14
for $2,000 5% school-house bonds.
D enom ination $100. D a te Ju n e 10 1910. In te re st an n u ally on A pril 19.
M atu rity 40 years, su b ject to call a fte r 10 y ears. H ud olph K leberg J r .
Is C ounty Judge.

D ublin, L aurens C ounty, G a.— Bond Election.—An election
will be held, it is stated, on Dec. 6 to vote on the question of
issuing $25,000 light and sewer and $5,000 street-paving
bonds.
D yersburg, D yer C ounty, T en n .— Bonds Voted.—An elec­
tion held recently resulted in favor of a proposition to issue
$50,000 5% 20-year coupon bonds to aid in the construction
of the Birmingham & Northwestern RR. We are informed
that the bonds will not be issued until the road is completed,
possibly two years hence.
E ast Orange, E ssex C ounty, N . J .— Bond Sale.— Issues of
F arso n , Son & Co , Chicago— p ar less $2,500 for expenses. fil-*P?iPwqH $42,000 and $242,050 4% 40-year school bonds have been
A . B. Leach & Co., Chicago— p a r less $3,108 for a tto rn e y ’s fees and other sold. On the $42,000 bonds the interest is payable in April
expenses.
.
’ilfSH *,
r h ? s L^; Dylgcr Co., Chicago— p ar and Interest less $4,001 for expenses.
and October and on the other issue in January and July.
A bid of $126,025 for 5% 20-year bonds w as also received from John
E llensburg, K ittitas C ounty, W ash .— Bond Election Pro­
N uveen & Co., Chicago.
* ~.s 4
H -i s
D enom ination $500. D ate O ct. 1 1910. In te re st sem i-annually a t the
M echanics-A m erican N ational Bank of S t. L ouis. M atu rity O ct. 1 1031, posed.—According to reports an election will be held to vote
on a proposition to issue $300,000 water-system bonds.
$25,000 t,°In ca'L
1025.on ° c t- as follows: $25,000 In 1910, $75,000 In 1020 ami
ore C ounty School D istrict N o. 11 (P . O. K ing H ill),
Columbus, Ohio.—Bonds Authorized.—Ordinances have aElm
h o.— Bond Offering.—Proposals will be received until
been passed providing for the issuance of the following cou­ Id
2 p. m. Nov. 12 by F. O. Gillett, Clerk, for $14,000 5% gold
pon
bonds:
$20,000 4% stre et-re p airin g bonds. D enom ination $1,000. M atu rity coupon school-building and equipment bonds.
v .r *

1

N ov. 1 1920.
4% G ates S t. im p ro vem en t assessm ent bonds. D enom ination
1012°°’ M atu rlty’ Sept” 1 1 0 2 l> sul)Ject to call a fte r S ep t. 1
4% sew er and d rain bonds. D enom ination $500. M atu rity
N ov. 1 1920.
4% sewer and drain bonds. Denomination $500. M atu rity
S ep t. 1 1920.
4% m unlclpal-elcctrlc-llgh t-p lan t bonds. D enom ination $500.
M atu rity S ept. 1 1020.
4% garbage-disposal bonds. D enom ination $1,000.
4% F ran k fo rt S tree t Im provem ent assessm ent bonds. D enom i­
n atio n $1,000. M atu rity S ep t. 1 1921, su bject to call a fte r
S ep t. 1 1911.
7.000 4 M % sew er construction assessment bonds. Denomination $ 1 , 0 0 0
M atu rity S ep t. 1 1016, su b ject to call a fte r S ept. 1 1 9 1 1 .
7.000 4% M itchell S tree t Im prov em ent assessm ent bonus. D enom ina­
tion $1,000. M atu rity S ep t. 1 1021, su b ject to call a fte r S e p t.l
1,500 4 K % sew er-construction assessm ent bo nd s. D enom ination $500.
M atu rity S ep t. 1 1916, su b ject to call a fte r S ept. 1 1 9 1 1 .
D ate n o t la te r th a n N ov. 1 1910. In te re st M arch 1 a n d S ept. 1 a t the
C U yJT reasu rer’s o ffice._____ $33
3.000
"
5.000
2.500
2.500
20,000
4.000

A uth ority C h ap ter 4 1 , Section 1079, School L aw s. D enom ination $1,009
or m ultiples thereo f. D ate N ov. 1 1 9 1 0 . In te re st sem i-annually a t K ing
H ill. M aturity N ov. 1 1920. Certified check for $500, pay ab le to th e
Clerk, Is req uired . B onded d e b t. Including th is issue, $14,000. Assessed
valu atio n $300,000.

El Reno School D istrict (P . O. El R eno), Canadian C ounty,
O kla. —Bond Sale.—Woodin, McNear & Moore of Chicago

have purchased and arc ofFering to investors the $75,000 5%
25-year coupon high-school-building and site-purchase
bonds described in V. 91, p. 819.
Enid School D istrict (P . O. E n id ), Garfield C ounty, O kla.—•
Bond Sale Not Consummated.—We are advised that the
$200,000 5% school-building bonds awarded on July 1 to
R. J. Edwards of Oklahoma City at par (V. 91, p. 896) take
the place of the $200,000 bonds disposed of on April 18 to
C. Edgar Honnold (V. 90, p. 1116), which sale was never
consummated.
The City Council has also passed ordinances providing for E scanaba, D elta C ounty, M ich.— Bond Election.—At the
the issuance of the following 4% coupon improvement as­ general election to be held Nov. 8, a vote will be taken, it is
sessment bonds:
stated, by this city on propositions to issue $30,000 gas$6,000 for A bb ott A ve., $0,000 for L azcllc S t., $6,000 fo rT h ird S t $5 000 plant and $15,000 fire-station construction bonds.
for W olfel A ve., $4,000 for S ix th A ve., $3,000 for Ludlow S t., $12 OOo’ for
E vanston, Cook C ounty, 111.—Bids.—The following bids
H arrison A ve., $9,000 for T w enty-S econd S t., $1,000 for S eventeenth St
an d $4,000 for P erry S t. D enom ination $1,000. D ate no t la ter th a n were received on Nov. 1 for the $35,000 departmental­
N ov. 1 1910. In te re st sem i-annu ally a t the C ity T re a su re r’s office T he building and the $10,000 1-5-year (serial) fire-department
bonds m a tu re S ept. 1 1921, b u t, w ith th e exception of the $12,000 H arrison
A ve. Issue, are su bject to call a fte r S e p t. 1 1911.
4% coupon bonds described in V. 91, p. 1049:



Nov. 5 1910.]

1211

THE CHRONICLE

T he N a t. C ity B k of Chlc_$45,000 00 H arris T r. & S av. B a n k ..$43,940 00
G o o d in g , L in coln C ou n ty, I d a h o . —B on d O fferin g. —Pro­
F irst T ru st & S av. B a n k . 44,310 00 12. H . R ollins & S o ns____ 43,931 25
F arso n , Son & C o______ 44,175 00 T hom as J . Bolger C o____ 43,738 50 posals will be received until 8 p. m. Nov. 7 by P. T. Sutphen,
N . W . H alsey & C o______ 44,136 00 Jo h n N uveen & C o______ 43,227 00 Village Clerk, for $7,000 funding, refunding, building and
A . B . L each & Co_________ 44,114 00 W ell. R o th & C o . . . ...........*34,005 00
purchasing bonds.
H ibern ian B a n k __________ 44,110 25
D enom ination $1,000. D ate D ec. 1 1910. M atu rity 20 years, su bject
• F o r $35,000 Issue only.
to call a fte r 10 years. B onded d e b t a t p resent $9,700. N o floating d e b t.
T he ab o v e bidders a re all of Chicago, T he $35,000 d e p artm e n ta l bulld- A ssessed v a lu atio n In 1910 $524,120.
lng bonds m a tu re p a rt yearly on N ov. 1 from 1911 to 1930 Inclusive.
G ranite C ou n ty (P . O. P h ilip s b u r g ), M o n t .— B ond E lec­

n . —An election will be held Nov. 8 to vote on a proposi­
—
—On Sept. 14 the Board of School tio
tion to issue $50,000 4^>% coupon court-house construction
Directors adopted a resolution providing for the issuance of and
furnishing bonds. Date March 1 1911. Interest semi­
$23,000 5% coupon school-building bonds,
annual.
ixrD cn? m Inatlon $500. D ate O ct. 1 1910. In te re st sem i-annually a t th e
G reeley S ch ool D is trict N o. 6 (P . O. G re e le y ), W e ld
V alley T ru st Co. In W ilkes-B arre. M atu rity $3,000 O ct. 1 1920,
$10,000 O ct. 1 1925 an d $10,000 O ct. 1 1930. B onds will be ex em p t from C ou n ty, Colo.—B on d S a le. —According to reports, the $ 6 2,000
all
$ I,Utaxes
l5,5 78. B onded d e b t of d istric t a t p resent $3,000. A ssessed valu atio n 5% 15-year school bonds described in V . 91, p. 1197, were
sold on Oct. 31 to James H. Causey & Co. of Denver fo r
F all R iv e r, B ristol C ou n ty, M a s s . —B ond O ffering. —Pro­
price thus being 101.66— a basis of about
posals will be received until 10:30 a. m. Nov. 10, it is stated, $63,030—the
4.843%.
for $528,000 4% 1-30-year Taunton River bridge bonds.
G reen w ich V illa ge S ch ool D is trict (P . O. G re e n w ich ),
F a rg o , Cass C ou n ty, N o. D a k .— B ond S a le.— On Oct. 24
u ron C ou n ty, O h io .— B ond O fferin g. —Proposals will be
$15,000 hospital bonds were awarded, it is stated, to the Hreceived
12 m. Nov. 12 by O. W. Sizer, Clerk, for the
Wells & Dickey^Co. of Minneapolis for $15,301 (102.006) $20,000 4until
V-2% coupon bonds voted on Oct. 15. V. 91, p. 1197.
for 5s.
A u th o rity Sections 7625, 7626, 7627 an d 7628, G eneral Code. D enom i­
F e n to n , B room e C ou n ty, N . Y .— B ond S a l e — The $9,000 n atio n $500. D ate N ov. 1 1910. In te re st sem i-annually a t th e F arm ers’
anking Co. in G reenw ich. M atu rity $500 y early on N ov. 1 from 1916 to
4}^% registered bridge-construction bonds described in B1931
Inclusive an d $500 each six m o nth s from M ay 1 1932 to N ov. 1 1943
V. 91, p. 1019, were awarded on Oct. 18 to the Chenango Inclusive.
B onds are tax -ex e m p t. C ertified check for 5% of bonds bid
for, payable to th e School B oard, Is req uired . B onded d e b t a t p resent,
Valley Savings Bank in Binghamton.
$5,000. No floating d e b t.
F ergu s C ou n ty S ch ool D is trict, M o n t .— B onds N ot Y et
H am den (P . O. H am den J u n ctio n ), V in ton C ou n ty , O hio.
A w arded.— W e are informed under date of Oct. 14 that bids — B ond O fferin g. —Proposals will be received until 12 m.
were opened on Sept. 20 for $14,500 school bonds, but “that Nov. 15 by E. W. Martindell, Village Clerk, for $2,000 4)^%
the State of Montana reserves a preference right to purchase coupon
Wilkesville Street improvement bonds.
and the district is waiting for their waiver or election to a t Dthenom
ination $100, ex cept one bond of $500. In te re st sem i-annually
e C itizens' B ank In H am den Ju n c tio n . M atu rity $500 In 1915, $200
purchase before placing the bonds.”
In 1916 and $100 each year from 1917 to 1929 Inclusive. B onds a re exem p t
Fillm ore C ou n ty S ch ool D is trict N o. 129 (P . O. P r e sto n ), from all tax es. C ertified check for $25. p ay ab le to th e V illage C lerk, is
M in n .— Bond S a le.— On Oct. 22 $1,500 5% 1-8-year (op­ req uired . B onded d e b t a t p resent, $200. N o floating d e b t.
ilton C ou n ty (P . O. N o b le s v ille ), In d .— N o Bonds
tional) building bonds were awarded, it is stated, to Mrs. S oHldam
. —We are informed that the reports that $10,000 4 J^%
Mary Boice of Harmony at par.
refunding bonds have been sold to J. F. W ild & Co. o f In ­
F o r t E d w a rd U n ion Free S ch ool D is trict N o. 9 (P . O. F ort dianapolis are erroneous.
E d w a rd ), W a sh in g ton C ou n ty, N . Y .— B onds N ot S o ld .—
S p rin g s, E m m et C ou n ty , M ich .— B onds Offered
Reports state that no sale was made on Oct. 20 of the $30,000 hy HB arbor
an kers. —The Continental & Commercial Trust & Savings
5% l-G0-year (serial) school bonds offered on that day.
of Chicago is offering for sale $45,000 5% 5-19-year
T,-P
H ate
1910.
In te Yreork
st anexchange.
n u ally a t th e F o rt Bank
(serial)
water-works bonds.
E dweno,mJrnatIon
ard N ational D ank of
F o rtN ov.
E dw1ard
In New
ination $1,000. D ate S ept. 1 1910. In te re st sem i-annually In
G allatin C ou n ty (P . O. B ozem a n ), M o n t .— B on d E lection .— H aDrbenom
o r Springs. T he bonds a re ta x -ex e m p t In M ichigan. T otal d e b t
An election
held Nov. 8 to vote on the question of is­ $1,500,000.
??°«’n2°,;,,,>A ssessed v a lu atlo n for 1910 $941,853. R eal v alu e (sstlm ated)
suing
$35,000willjailbebonds.
E xe te r S ch ool D is trict (P . O. E x e te r), L u zern e C ou n ty,
P a . B onds A u th orized.

H askell C ou n ty (P . O. H a sk ell), T e x a s .— B on d

E lection .—

election will be held, according to reports, on Nov. 8
are advised that the $9,000 5% An
to vote on the question of issuing $100,000 5% 20-year road
10-40-year (optional) bonds registered by the State Comp­ bonds.
troller on Sept. 6 (V. 91, p . 742) are in denominations of $100
H eaven er, L e F lore C ou n ty, O k la .— B ond E le c tio n — An
each
April and
10. are dated June 10 1910. Interest annuallv on election will be held Nov. 15 to rote on the question of issu­
G e o rg e to w n , W illia m son C ou n ty, T e x .— B ond O fferin g .— ing $50,000 water-works bonds.
Further details are at hand relative to the offering until H igh lan d P a rk , W a y n e C ou n ty , M ich .— D escription of
Dec. 1 of the $32,000 water-works and $13,000 light 5% B on d s. —We are advised that the $31,000 20-year water
coupon bonds mentioned in V. 91, p. 1197. These bonds bonds awarded on Oct. 10 to H. W. Noble & Co. of Detroit
carry interest at the rate of
The price paid was
are being offered at private sale by R. E. Ward, Mayor. $32,400
(104.516)—an interest basis of about 4.166%.
ArTt,cle 4861, S ta tu te s of 1895. D enom ination $1,000. D ate
/v .' f,
In te re st sem i-annually In New Y ork or Chicago, a t o p tion Denomination $1,000. Date Nov. 1 1910. Interest annual.
40 ye*” , su b ject to call a fte r 10 years. Bonded
d e b t. $13,000. F lo atin g d e b t, $421 79. A ssessed v a lu atio n , $2,017,760.
H ou ston H eig h ts, H arris C ou n ty , T e x .— N o B on d E lection.
G iles C ou n ty (P . O. P ea risb u rg ), V a .— B ond O ffering — —Referring to the reports that there was talk of calling a
fire-station bond election, the Mayor informs us
The Board of Supervisors, F. E. Snidow, Clerk, will offer at $25,000
that it is not likely that any bond election will be held this
public auction on Jan. 2 1911 $30,000 5% coupon bridge- year.
construction
bonds.
D enom ination $500. D ate Ja n . 2 1910. In te re st sem i-annu ally In
H ow ell, C olfax C ou n ty, N e b . —B onds V oted. —We see it
P earisburg. M atu rity from 1915 to 1920. B onds are ex em p t from
co u n ty taxes. T o tal d e b t a t present $9,000. Assessed v a lu atio n for 1910 stated that a proposition to issue $21,000 brick-school­
$3,000,000.
was favorably voted upon at a recent election.
Glasscock County Common School District No. 2, Tex.— buildingsonbonds
C ou n ty (P . O. In d e p e n d e n ce ), M o .— T em porary
Bond Sale.—The $1,400 5% 10-20-year (optional) bonds regis­ L oJaanck. —Local
report that on Oct. 26 arrangements
tered by the State Comptroller on Aug. 24 (V. 91, p. 742), were made withpapers
the Fidelity Trust Co. of Kansas City for a
were disposed of at par on Sept. 3 as follows: $700 to the loan
of $50,000 to meet the county’s pay-roll for October. It
Glasscock County Court House Sinking Fund, $500 to the is further
that this will bring the total amount bor­
Glasscock County Permanent School Fund and $200 to the rowed thisstated
Sinking Fund of District No. 1. Denomination $100. 5% interest.year to $260,000, for which the county is pa vin g
D escription o f B on ds. —-We

G a lveston C ou n ty C om m on Sch ool D istrict N o. 18, T e x .—

Date April 10 1910. Interest annual.
Glendale, Hamilton County, Ohio.—Bond Election.—It is
stated that a proposition to issue $15,000 vrater-works-systern improvement bonds .will be submitted to a vote of the
people on Nov. 29.
Gloucester, Essex County, Mass.—Bond Sale.—The $30,­
000 4% 1-10-year (serial) coupon bonds described in V. 91,
p. 1197, were sold on Oet. 28 to Lee, Higginson & Co. of Bos­
ton at 101.76—a basis of about 3.644%. A list of the bids
received follows:

Lee, H igginson & C o ..B o ston 101.76
C ity N a t. B ank, G lo u ce ste r.-101.75
H stabrook & C o., B o sto n ___101.61
A dam s & Co., B o ston______ 10L61
B lodget & Co., B o sto n ______ 101.589
lO .M .Farnsw orth & C o.,D ost 1 0 1 . 5 5
P erry , Coffin & B urr, B oston 101.52
B lake Bros. & C o., B o s to n ..101.41

P arkinson & B urr, B o sto n ...1 0 1 .3 6 7
M errill, O ldham & Co., B ost.101.319
E . H . Rollins & Sons, B oston 101.26
C. E . D enison & C o ..B o sto n .101.233
Old Colony T ru st Co., B oston 101.18
K uhn, F isher & Co., B o sto n . 101.071
Geo. A. F ernald & Co., B ost.101.076
Cape A nn N at.B k .,G lo u ces. 101.0511

Goldendale, Klickitat County, Wash.—Bond Sale.—On
Oct. 22 the $13,000 warrant funding and the $7,000 refund­
ing 5-20-year (optional) gold coupon bonds described in
V. 91, p. 897, were sold to the State of Washington at par
for 6s. Bids at par were also received from James N.
Wright & Co. of Denver for 6% bonds, Chas. S. Kidder &
Co. of Chicago for 6% bonds and Morris Bros, of Portland for
°M>% bonds. Bonded debt, these issues. Floating debt,
$1,000. Assessed valuation for 1910, $462,000.



J ellico, C am pbell C ou n ty, T e n n .— B onds

N ot to be Offered at

letter received by us on Nov. 2 stated that, at
present there were no prospects of the $90,000 6% 20-30year (optional) water-works and sewerage-system bonds
voted on Sept. 8’(V. 91, p. 743) being offered for sale in the
near future.
J ersey C ity, N . J .— B ond S u le. —The only proposal re­
ceived on Nov. 4 for $30,000 4 % 50-year park bonds offered
on that day, one of 101, submitted by the Sinking Fund
on that day, was one of 101, submitted by the Sinking Fund
Commissioners.
J oh n stow n Sch ool D is trict (P . O. J o h n s to w n ), P a .— B ond
O fferin g. —Proposals will be received until 6 p. m. Nov. 25
by J. C. Griffith, Secretary, for the $55,000 4J^% coupon
school-improvement bond mentioned in V. 90, p. 1506.
P r e s e n t— A

D enom lm iU on $1,000. D ate S ep t. 1 1910. In te re st sem i-annu ally a t
the C ity T reasurer s office. M atu rity 30 years, su bject to call a fte r 5 years.
Bonds are ex em p t from S ta te ta x . C ertified check for $400, p ay ab le to
th e School D istrict, Is required.
K a la m a zoo, K a la m a zoo C ou n ty , M ich .— B on d

E lection .—

An election will be held Nov. 8 to vote on the question of
issuing $25,000 Gull Street concrete-bridge, $16,000 Mill
Street concrete-bridge, $20,000 Sanitary Zone pumpingstation and sewers, $43,200jwater-main and $13,350 stormsewer bonds.

1278

THE CHRONICLE

[V O L

LXXXXI

Marmarth School District (P. O. Marmarth), Billings
K a n sa s C ity , K a n . —Bonds Authorized.—An ordinance
was passed on Oct. 6 providing for the issuance of $19,629 County, No. Dak.—Bonds Voted.—According to roports an
election held recently resulted in favor of a proposition to
5% coupon street-improvement bonds.
D enom ination S500. except one bond of $120. D ate O ct. 15 1910. issue $8,000 school-building bonds.
In te re st F eb. 1 a n d Aug. I a t the S ta te T re a su re r’s office In T opek a. M a­
Martinez, Contra Costa County, Cal.—No Action Yet
tu rity $1,629 on Aug. 1 1911 and $2,000 yearly on A ug. 1 from 1912 to 1920
Inclusive
Taken.—A letter received by us on Oct. 31 stated that noth­
K e n e s a w , A d a m s C ou n ty, N eb .— Bond Sale.—An issue of ing definite had yet been done in regard to calling an elec­
tion to vote on the question of issuing the $100,000 fire and
$4,500 4^% 5-20-year (optional) lighting bonds was dis­ bridge
bonds mentioned in V. 91, p. 744. It further stated
posed of last month to the State of Nebraska at par. The that it may
be six months before the election is held.
bonds are dated Sept. 1 1910.
Massillon,
Stark County, Ohio.—Bond Offering.—Propos­
K e y W e s t, F la , —Bonds Not Sold. —Up to Oct. 29 no
will be received until 11 a. m. Nov. 10 by R. J. Krisner,
award had yet been made of $192,000 5% 30-year coupon als
for the $2,641 4)^% coupon Brown Street
tax-exempt street-improvement bonds, proposals for which City Auditor,
mentioned in Y. 91, p. 898.
were asked until Oct. 11. Denomination $1,000. Date bonds
A u th o rity , Section 2835. R evised S ta tu te s. D enom ination $1,000, ex­
Oct. 1 1910. Interest semi-annually at the Knickerbocker cept
one bond of $641. D ate O ct. 1 1910. In te re st sem i-an n u al. M a­
tu
rity
$1,000 on O ct. 1 In 1912 a n d In 1913 a n d $041 O ct. I 1914. C ertified
Trust Co. in New York City.
check for 2% of bonds bid for, pay ab le to th e C ity T reasu ro r. Is req uired .
rchaser to p ay accrued In te re st. In te re st p ay ab le a t S ta te B ank of
K io w a , P itts b u rg h C ou n ty, O kla. —Bonds Not Sold. —No PMuassillon.
sale has yet been made of the $18,000 G%_ 25-year coupon Maxwell Independent School District (P. O. Maxwell),
water and light bonds, a description of which was given in Caldwell County, Texas.—Bonds Registered.—The State
V. 91, p. 743.
Comptroller on Oct. 14 registered the $6,500 5% school­
L a k e C harles, C alcasieu P a rish , L a .— Bonds Authorized .— building and site bonds voted on June 18. (V. 91,p. 109.)
It is stated that a resolution was passed on Oct. 27 providing Mayville, Dodge County, Wis.—Bonds Voted.—An elec­
for the issuance of $160,000 sewerage bonds.
tion held Oct. 25 resulted in favor of a proposition to issue
L a ra m ie, A lb a n y C ou n ty , W y o .— Bond Election.—On
bridge bonds. The bonds carried by 36 votes.
Nov. 8 an election will be held to vote on a proposition to is­ $10,000
Medina School District (P. 0. Medina), Medina County,
sue $15,000 sewer and $55,000 water 5% 10-year bonds.
Ohio.—Bond Offering.—Proposals will be received until
L e x in g to n S ch o o l D is trict N o. 1 (P . O. L e x in g to n ), D a w ­ Dec. 1 for the $35,000 school-building bonds mentioned in
son C o u n ty , N e b .— Bond Sale.—During October this district V. 91, p. 744.
sold $10,000 4)^% 9-19-year (serial) school-house bonds Menard County (P. O. Petersburg), 111.—Bond Election.—
dated Oct. 1 1910 to the State of Nebraska at par.
Reports state that this county will vote on the question of
L im e sto n e C o u n ty C om m on S ch ool D istrict N o. 38, T e x .—
almshouse bonds.
Bonds Registered.—The State Comptroller on Oct 2G regis­ issuing
Mendon, St. Joseph County, Mich.—Bonds Voted.—Papers
tered $700 5% 5-year bonds.
state that this village has voted to issue $10,000 bonds for
L in da le In d e p e n d e n t S ch ool D is trict (P . O. L in d a le), various improvements.
Sm ith C o u n ty , T e x .— Bond Sale. —The $12,000 5% 10-40Meridian, Lauderdale County, Miss.—Price Paid for
year (optional) bonds registered by the State Comptroller Bonds.
Mayor informs us that the price paid for the
on Aug. 19 (V. 91, p. 744), have been sold at par as follows: $50,000—The
20-year coupon drainage bonds awarded on
$0,000 to funds of Smith County and $6,000 to the First Na­ Oct. 18 to5%Breed
& Harrison of Cincinnati (V. 91, p. 1199)
tional Bank of Lindale. Denomination $1,000. Date was 102.02, and not
101 as at first reported.
July 15 1910. Interest annual.
Milwaukee, Wis.—Bond Election.—The following^ loan
L o c k H a v e n , C linton C ou n ty, P a .— Bond Sale.—The $15,­
are to be submitted to the voters on Nov. 8:
000 3j^% 10-20-year (optional) coupon refunding bonds propositions
Proposition N o. 1.— Shall $300,000 m ortgage certificates a n d $250,000
offered on Nov. i and described in V. 91, p. 1198, were bonds
be Issued for an clectric-llght p lan t. Proposition N o. 2— Shall $250,000
bonds be Issued for th e purchase of a site and co n stru ctio n of a po lice
awarded to local parties.
sta
tio
n
. Proposition N o. 3— Shall $10,000 bonds bo Issued for pu blic b a th s.
L o u is v ille , K y . —Amount of Bonds Reduced.—We are ad­
Bond
Sale.—On Nov. 1 the $115,000 4% 1-20-year (serial)
vised that $150,000 of the $350,000 4% 10-year gold refund­
school bonds described in V. 91, p. 1199, were sold
ing bonds (tenth issue), offered without success on Sept. 1 coupon
to John E. De Wolf of Milwaukee at par less $1,395 27 for
(V. 91, p. 1115), have been canceled by the Commissioners. expenses.
The following bids were also received:
Our informant further states that the remaining $200,000
P clt ij6ss
Pdi* Less ' **
bonds have not yet been placed on the market.
W m . R . C om pton B ond &
F arson, Son & C o., O h io ...$ 2 ,3 0 0 00
Co., C h ic a g o ..$1,500 00 N. W . Ilalsey & C o., C hlo._ 2,817 50
Bond Election.—The proposition to issue the $1,000,000 A . MB.ortgage
& Co., B o ston . 1,978 00 T hos. J . Bolger Co., C hlo._ 3,350 00
4 y2% 40-year gold coupon hospital bonds mentioned in E stab roLeach
C o., C hicago. 2,051 60
received from th e M arshall & Ilsley B ank of M ilw aukee.
V. 91, p. 105.0, will be submitted to a vote on Nov. 8. De­ A bido wk as& also
nomination $1,000. Date March 1 1911. Interest semi­ Mississippi.—Additional Sales of Bonds.—According to
annually at the First National Bank of New York City.
New Orleans papers of Oct. 30, $154,000 of the $600,000 4%
This makes a total
L u ca s C ou n ty (P . O. C h ariton ), I o w a .— Price Paid for 20-year bonds have been disposed of
Bonds.—We are advised that the price paid for the $22,000 of $67,000 bonds sold since our last report. See V. 91, p. 1115.
4 XA % coupon funding bridge bonds disposed of during Sep­ Modesto, Cal.—Price Paid for Bonds.—We are advised
tember to the Harris Trust & Savings Bank of Chicago that the Harris Trust & Savings Bank of Chicago paid 104 08
(V. 91, p. 1198) was par.
for the four issues of 5% coupon bonds, aggregating $100,000,
L u fk e n , A n gelin a C ou n ty, T e x .— Bonds Voted.—An elec­ awarded to them on Oct. 12. V. 91, p. 1199.
tion held Oct. 8 resulted in favor of a proposition to issue Mohnton, Berks County, Pa.—Bond Election.— An elec­
$18,000 5% 10-40-year (optional) water-works improvement tion will be held Nov. 8 to vote on the question of issuing
bonds.
$12,000 4 y 2% 30-year general street-improvement bonds.
L y o n C ou n ty (P . O. M arshall), M in n .— Bond Offering .—
Monessen, Westmoreland County, Pa.—Bond Election.—
Proposals will be received until 1:30 p. m. Nov. 21 by Ernst Reports state that the Council has instructed the Borough
S. Shepard, County Auditor, for $63,500 5% coupon ditch Solicitor to prepare an ordinance providing for an election to
bonds.
vote on the question of issuing $100,000 bonds for streets,
D enom ination s $200 to $2,000. D ate Ja n . 2 1911. In te re st Ja n . 1 and
Ju ly 1. M atu rity p a rt yearly from 1916 to 1921. C ertified check for 5% sewers and funding purposes.
Montgomery, Montgomery County, Ala.—Bond Sale .—
of bid p ay ab le to th e C ounty C om m issioners, Is req uired . B onded d e b t
a t presen t, $27,000. Assessed v a lu atio n , $9,000,000.
Madison, Dane County, Wis.—Bond Offering.—It is
stated that $16,000 5% University Avenue bonds are being
offered for sale. Denomination $i00. Interest annually on
April 1. Maturity 1918.
Mansfield School District (P. O. Mansfield), Richland
County, Ohio.—Bond Election.—According to reports, an
election will be held Nov. 8 to vote on the question of issuing
$100,000 school-building bonds.
Marblehead, Essex County, Mass.—Bond Sale.—The $27,­
000 4% coupon water bonds described in V. 91, p . 1198,
were awarded on Oct. 28 to Perry, Coffin & Burr of Boston
at 102.827. Other bids received were as follows:

On Aug. 16 approximately $150,000 5% 10-year paving
bonds were awarded to the New Farley National Bank in
Montgomery at par and accrued interest. Denomination
$500.
Morristown, Schnasse County, So. Dak. Bonds Voted.—
On Oct. 18 an election was held which resulted in favor of the
proposition to issue the $10,000 5% water-works bondsmentioned in Y. 91, p. 821. The vote was 29 “for" to 10
“against.” Maturity in 5, 10, 15 and 20 years.
Mt. Washington, Hamilton County, Ohio.—Bond Offering.
—Proposals will be received until 12 in. Nov. 12 by E. H.
Stevens, Village Clerk, for $1,000 5% sidewalk-improvement
(village’s
portion) bonds.
A uth o rity Sections 3821 and 3939, G eneral Code. D enom ination $100,

B lodget & C o.............................. .102.819 P ark inso n & B u rr......................... 102.267 D ate S ept. 16 1910. In terest sem i-annual. M atu rity S ep t. 16 1920.
A dam s & C o_________________ 102.71 10. H . H ollins & S o n ....................102.14
K stabrook & C o_____________ 102.65 K uhn, F isher & C o---------------.102.139 Certified check for 10% of bonds bid for, payable to the Village T reasurer,
10. M. F a rn sw o rth & C o_____ 102.58 N . VV. H arris & C o...................... 102.079 is req uired . P u rch aser to pay accrued Interest.
U. L . D ay & C o_____ ______102.539 C. 10. D enison & Co---------------102.07
Muskogee, Muskogee County, Okla.—Rond Sale.—The
Blake Bros. & C o.....................102.44 Old Colony T ru st C o-------------102.05
Geo. A . F ernald & C o...........102.371 Lee, H Iggtnson & C o..................102.01 $50,000 5% 25-year park bonds mentioned in V. 91, p. 745,
M errill. O ldham & C o----------102.359
have been sold to the Sinking Fund.
T he abo ve bidders are all of B oston.
M atu rity $1,000 yearly on M ay 1 from 1911 to 1911 Inclusive, $2,000
Muskogee County (P. O. Muskogee), Okla.—Bond Election.
yearly on M ay 1 from 1915 to 1922 Inclusive a n d $1,000 yearly on M ay 1 —An election will be held on or about Nov. 22, it is stated,
from 1923 to 1929 inclusive.

the question of issuing approximately $140,000
Marietta, Cobb County, Ga.—Bond Election.—We re­ to votetoonerect
bridges.
ported in V. 91, p. 1050, that this city would vote on the bonds
question of issuing $15,000 sewerage-sysetm bonds. It is Natchez, Miss.—Bond Issue Canceled.—Tho issue of $50,­
stated in Macon papers that this election will be held Dec. 1. 000 bonds voted Jan. 29 (V. 90, p. 392) in aid of the Missis-




£k»y. 5 me.]

1219

THE CHRONICLE

sippi Western RR. has been canceled, the company having P a tterson , S t. M ary P arish , L a .— Bonds Offered by
failed to begin construction within the time specified.
Bankers.—Of the $30,000 5% coupon water-works bonds
mentioned in V. 91, p. 816, $27,000 are being offered to in­
N a v a jo C o u n ty S ch ool D is trict N o. 1, A r iz .— Bond S a lc On Oct. 3 the $7,000 G% bonds mentioned in V. 91, p. 821 vestors by H. T. Holtz & Co. of Chicago.
were awarded to Jas. H. Causey & Co. of Denver at 103.655 *v,P<
rn<i rnl(?a5l0 ™ 51.000. D ate Ju ly 15 1910. In te re st sem i-annually a t
th e In te rs ta te T ru st A B anking Co. of New O rleans. M atu rity $1,000

D enom ination 91,000. D ate O ct. 1 1910. In te re st sem i-annu al. Ma
tu r lty $2,0 0 0 on O nt. 1 In th e years 1915 a n d 1920 a n d $3,000 O ct. 1 1925.
N a co g d o ch e s C ou n ty (P . O. N a c o g d o c h e s ), T e x .—

Bond

Election Proposed.—Reports state that there is talk of calling

an cleetion to vote on the question of issuing $75,000 court­
house and $25,000 jail bonds.
N e w b u ry p o rt, E ssex C ou n ty, M a ss.— Temporary Loan.
A loan of $25,000 due April 2 1911 was negotiated with the
Institution for Savings of Newburyport on Oct. 31 at 4%
discount and a premium of $1.
N ew Y o rk C ity .— Bond Sale. —We give below a list of the
bonds issued by this city during October and purchased by
the Sinking Fund at par:

P urpose—
in t. Rate. M a tu rity
A m o un t.
V arious m unicipal p u rp o ses................................. 3
1959
$128,000
3 19 5 9
W a te r b o n d s______ ________________
3,150,000
R a p id T ra n sit bo n d s_______________________ 4
1959
1,200
T o ta l ................................................................................................................-$3,279,200

y early on J a n . 15 from 1914 to 1932 Inclusive and $8,000 on Ja n . 15 1933.
lo ta l bonded d e b t (this Issue), $30,000. A ssessed valu atio n . $548,000.
A ctual v a lu atio n (estim a ted ), $2,000,000.

P a w n ee C ou n ty (P . O. P a w n ee C ity ), N e b .— Rond Elec­
tion.— A proposition to issue $85,000 court-house-construc­

tion bonds
Nov.
8. will be submitted to the voters, it is stated, on
P a w tu ck e t, R . I . —Bond Sale .—On Nov. 2 the five issues
of 4% coupon bonds, aggregating $580,000, described in
V/ P-Oldham
„ were
awarded
to N.at W.105.539
Harrisand& Co.
and
Merrill,
&
Co.,
of
Boston,
accrued
interest.
P ettis C ou n ty (P . O. S ed alia), M o .—

Bond Election.— A

proposition to issue $50,000 jail-building bonds will be voted
on
at the general election in November, according to local
papers.

C ou n ty (P . O. T a c o m a ), W a s h .— Bond Election.—
The following revenue bonds (temporary securities) were I heP ierce
question of issuing $400,000 coupon road and bridge
also issued during October:
bonds at not exceeding 4^% interest will be submitted to
Interest.
A m o un t.
R ev en u e bonds, c u rren t exp enses.............................. ......... T4j-iX
$5,000,000 a vote of the people on Nov. 8. A majority of three-fifths
R even ue bonds, c u rre n t exp enses_____ ______________ A'A
4
14
12,800,000
R even ue bonds, c u rre n t exp en ses____________________ 4
19,400.000 of the votes is necessary to authorize the bonds
R even ue bonds, sp ecial............................................................. 4 Ka
100,000
R evenue bonds, sp ecial_______________________________ 4 '
P la ttsb u rg h , Clinton C ou n ty, N . Y .— Bonds Not Yet Sold.
270,400
T o t a l .....................................................................................................................$37,570,400 —Up to Oct. 31 no award had yet been made of the $15,000
Norwood, Pa .—Bond Election —An election will be held bonds—the unsold portion of the issue of $40,000 4%
on Nov. 8, it is stated, to vote on a proposition to issue 1-20-year (serial) water bonds mentioned in V. 91, p. 746.
P ortla n d , O re. —Bond Sales .—According to rep orts,
$50,000 ctrcet-improvcment and sewerage-system bonds.
improvement bonds have been disposed o f to local
Oakley School District (P. O. Cincinnati), Hamilton $170,871
at prices ranging from par to 100.75.
County, Ohio.— Bond Sale.— On Oct. 31 the $25,000 4>£% investors
is further stated that on Oct. 26 $352,529 17 6% street
40-year coupon school-house-completion bonds described in andIt sewer
assessment bonds were also sold, $143,029 17 going
V. 91, p. 979, were sold to Seasongood & Mayer of Cincin­ to individuals
and $209,500 to the Sinking Fund. The
nati at 108.312 and accrued interest—a basis of about bonds are payable
any time after one year.
4.078%. Interest is payable at the Oakley Bank in Oakley.
Following are the bids:
P rin ce G e o rg e ’s C ou n ty (P . O .lU p p e r M a rlb o ro ), M d .—
Scasonprood & M ayer. C ln .$27,078
F irst N. B k ., N o rw o o d ,.$20,750 00 Bond Sale .—The $8,000 5% 30-year coupon school-building
S tacy & B raun, T o le d o .. 27.007 50 P ro v id en t Savings B ank &
W ell, R o th A C o., C in___ 28,882 50 T ru st Co., C in c in n a ti.. 20,540 00 bonds offered on Oct. 11 (V. 91, p. 899) were awarded, it is
Breed A H arrison. C ln
20,755 00 New F irst N . B k ., C o lum . 26,525 00
to W. C. Duley of Croome and Ilambleton & Co. of
O akley B ank , O akley------ 26,751 11 A tlas N a t. B ank , C ln ____ 25,027 50 stated,
at prices ranging from 107 to 109y±.
Oconomowoc, Waukesha County, Wis.—Bond Sale .—The Baltimore
R ea d in g , P a . —Bond Election .—We are advised that the
$15,000 4% 20-year coupon water-works construction bonds bond
propositions to be voted upon Nov. 8 aggregate Si,275,offered on Oct. 17 and described in V. 91, p . 1051, were
awarded to the Harris Trust & Savings Bank of Chicago at 000. They answer to the following description: $325,000
for parks and playgrounds, $500,000 for a new city-hall and
par and interest, less $395—the price thus being 97.50.
site, $225,000
Ogdensburg, St. Lawrence County, N. Y .— Bond Sale. water
sewers. for street-paving and $225,000 for storm­
This city has accepted the bid at par and interest submitted
on Oct. 20 by the National Bank of Odgensburg for the R ice L a k e, B arron C ou n ty , W is . — Bond Offering.—Pro­
will be received until 2 p. m. Nov. 15 by Geo. A.
$5,000 4% 15-year water-works bonds offered on that day. posals
Baier, City Clerk, for $15,000 Sewer District No. 1 bonds.
See V. 91, p. 1199. Denominations $500 and $1,000. Date Maturity
10 years. Certified check on or certificate of de­
June 1 1910. Interest semi-annual.
of
a
national bank for $1,500, payable to the city, is
Orangeburg, Orangeburg County, So. Car.—Bonds Voted. posit
—The election held Oct. 25 resulted in favor of the proposi­ required.
R ic h w o o d , U n ion C ou n ty, O h io. —Bond Offering.—Pro­
tion to issue the $20,000 railway-aid bonds mentioned in posals
will be received until 12 m. Nov. 19 by Ray L. Jor­
V. 91, p. 1051. The vote was 125 to 22. The bonds will dan, Village
for $18,000 4)4% North Franklin Street
not be issued, we are informed, until the railroad is completed. improvementClerk,
assessment bonds.
Orange County (P. O. Orlando), Fla .—Bond Election.—An i i u u i u r u y , se c tio
n , M unicipal Code. D enom ination $1,000. D a te
election will be held Dec. 4 to vote on a proposition to issue i '. 1
In te re st sem i-annual. M atu rity $1,000 on A pril 1 In 1912
$1,000,00(114 Yi% 50-year road-building bonds, the same to be and
in 1913 and $2,000 yearly on April 1 from 1914 to 1921 Inclusive. Cer­
tified check for 5% of bonds bid for, payable to th e V illage T reasu rer, Is
delivered $200,000 each year for 5 years.
req uired . P u rch aser to pay accrued Interest.
Ottumwa, Wapollo County, Iowa .—Bond Election.—An R iversid e, R iversid e C ou n ty, Cal.—Bond Election.—An
election will be held Nov. 22 to vote on a proposition to is­ election will be held Nov. 25, according to reports, to vote
sue $175,000 5% water-works bonds.
on the question of issuing $50,000 Fairmount Park improve­
and additional-fire-protection bonds.
Owatonna, Steele County, Minn.—Bond Election.—An ment
e Irrig a tion D istrict (P . 0 . F o r t M o rg a n ), M organ
election will be held Nov. 8 to vote on the question of issuing C ouR iversid
n ty, Colo —Bond Sale .—On Oct. 12 8300,000 6% bonds
$10,000
additional
water-works,
$15,000
park
and
$30
000
were awarded to the Riverside Construction & Securities
paving 5% 20-year bonds.
at par.
Palestine, Anderson County, Tex.—Bonds Registered.— Co.D enom
$500. D ate O ct. 1 1910. In te re st Ju n e
D ecem ber.
On Oct. 28 the State Comptroller registered the $17,000 M atu rity ination
p a rt yearly from 1920 to 1930.
public-park and $9,000 fire-equipment 5% 10-40-year R o ck fo rd , W in n e b a g o C ou n ty, 111.— No Action Yet Taken.
(optional) bonds, bids for which were rejected on Oct. 17 Up to Oct. 31 no action had yet been taken looking towards
(V. 91, p. 1116.)
the holding of the proposed $200,000 water bond election
Passaic, Passaic County, N. J .—Bond Sale .—On Oct. 28 mentioned in V. 91, p. 746.
the $103,000 school and the $70,000 funding 4)4% gold cou­ R o ck G rove T ow n sh ip S ch ool D is trict N o . 1 (P . O . N ora
pon (with privilege of registration) bonds described in V. 91, S p rin g s), F lo y d C ou n ty, I o w a . —Bonds Defeated.—A n elec­
{>. 1116, were sold to Estabrook & Co. of New York City at tion held Oct. 4 resulted in the defeat of a proposition to
issue $1,800 school-building bonds. The vote was 25 “for”
101.77 and interest. The following bids were received:
$103,000 $70,000 to 55 “against.”
R o ck m a rt, P o lk C ou n ty, G a . —Bonds Not Sold .—There
E stabro ok A G o., N ew Y ork
— n t f o , 77bonrfS•
N . VV. H alsey A Go., New Yb'rk............................................................ n !
were no bids received for the $25,000 water-works and
N . W H arris A C o., New Y o rk !................................................ ...........“ m i " i l l --------- $10,000
sewer bonds offered on Nov. 1 and described in
E . H . R ollins A Sons, New Y ork...........................................................----------------------B lodgct & C o ., New Y ork........ ...........' ..............................................“ win
V. 91, p. 1200.
P eop le's B ank A T ru st C o.. PassalV. a'nd A .'B .'L eao h &
R o g e rs , Bell C ou n ty, T e x — Bonds Voted— The election
Co., New Y ork ---------------------------a i m io n ____
K ountzo B ros., New Y ork
...........
......... “ i n n i ,
held Oct. 18 resulted in favor of the proposition to issue the
D e v ltt, T rem ble A C o.,C h lcaro ..............................................
“ in«
W . N . Coler A C o.. New Y ork . . .
658 in T iT * $14,000 6% 20-40-year (optional) water-works bonds men­
E dm und B ros., B o s to n .........................................................
10430 103
tioned in V. 91, p. 822. The vote was 91 “for” to 4 “against.’
O ’C onnor A K ahlcr and M organ, L lverm ore'A C o.', ~n ! y ~ 1 0 4 J8
103*58
R , M . G ran t A C o., New Y o r k _
,,,
R on an S ch ool D is trict (P . O. R on a n ), M issou la C ou n ty,
Jo h n D. E v e rltt A Co.. New Y o r k ........................................ 0.3
lo a n ?
S p ltzcr A C o., New Y o rk ............................... . i : " " ----------- 103*544 103 144 M o n t. —Price Paid for Bonds .—We are advised that the price
Kissel, K ln n lcu tt A C o., New Y o rk _____ _____________ 103.471 102.91 paid for the $15,000 6% school-building bonds disposed of
on Oct. 11 to the State of Montana (V. 91, p . 1116) was par.
a F o r $173,000 bonds.
T he m a tu rity of th e $70,000 bonds lias been changed from O ct 1 1935 Denomination $1,000. Maturity part yearly from 5 to 10
to O ct. 1 1933. T he $103 000 Issue Is du e O ct. 1 1940.
years inclusive.




1
4

4

00

95

and

104

80

103

1

815
56

THE CHRONICLE

1280

R u sh v ille , Sheridan C ou n ty, N e b . —Bond Sale.—The
$15,000 6% 5-20-year (optional) registered water bonds
voted on May 17 (V. 90, p. 1440) were awarded on June 15
to Dale & Patterson at par. Denomination $500. Date
June 15 1910. Interest annual.
R u sk C ou n ty C om m on S ch ool D istrict N o. 11, T e x a s .—
Bonds Registered.—'■ The State Comptroller registered on
Oct. 27 an issue of $500 5% 15-20-year (optional) bonds.
R u sk C ou n ty C om m on S ch ool D is trict N o. 46, T e x a s .—
Bonds Registered.—On Oct. 27 the State Comptroller regis­
tered $2,000 5% 15-20-year (optional) bonds.
R u ssell C ou nty (P . O. L e b a n o n ), V a .— Bonds Not Sold.—
Up to Oct. 29 no sale had yet been made of the $25,000 5%
28-32-year (serial) coupon road-improvement bondu de­
scribed in V. 91, p. 1051.
St. A u g u stin e , F la . —Bond Election.—The election to vote
on the question of issuing the $100,000 sewerage-system
bonds mentioned in V. 91, p. 746, will be held Dec. 15.
Salem , M a s s . —Temporary Loan. —According to reports, a
loan of $100,000 was negotiated on Oct. 31 with C. D.
Parker & Co. of Boston at 3.98% discount and 20 cents
premium. The loan is dated Nov. 1 1910 and is due Feb. 1
1911.
Salem , C olu m bian a C ou n ty, O h io. —Bond Offering.—Pro­
posals were asked for until 7 p. in. yesterday (Nov. 4) by the
Sinking Fund Trustees for the $10,000 4 14% coupon re­
funding bonds mentioned in V. 91, p. 1051.

D enom ination $500 D ate O ct. I 1 9 1 '. In te re st sem i-annu ally a t th e
C ity T reasurer’s office. M atu rity S 1,000 yearly on O ct. 1 from 1920 to
1929 Inclusive. Bonds arc tax -ex em p t.

The result of this offering was not known to us at the hour
of going to press.
S an du sk y, Sanilac C ou n ty, M ich . —Bond Sale. —We are
advised that the following 4
bonds, bids for which were
rejected on Aug. 18 (V. 91, p. 746) were awarded on Aug. 26
to C. J. Oleson for $31,625, the price thus being 101.838:
59.000 sew er bonds M atu rity 20 years.
15.000 w ater-w orks bonds. M atu rity .90 years.
10.000 light bonds. M atu rity 30 years.
T he abo ve bonds a re d a te d S ept. 1 1910.

S a n d u sk y, Erie C ou n ty, O h io. —Bond Offering.—Proposals
will be received until 12 m. Nov. 21 by Joseph Loth Jr., City
Auditor, for $5,000 4% fire-department-equipment bonds.

D enom ination $500. D ate O ct. 1 1910. In te re st sem i-annu ally a t the
C ity T reasu rer’s office. M atu rity O ct. 1 1918. C ertiiled check for $1,000
Is required.

[V O L . L X X X X I .

100,000 for building bridges, culv erts, crossw alks a n d m ak ing o th e r
street-im p ro vem ents.

S p rin gfield , Clark C ou n ty, O h io. —Bond Offering.—Pro­
posals will be received until 8 p. m. Nov. 22 by Wm. II.
Mahoney, Clerk of Council, for $11,788 42 4)^% coupon
(city’s portion) High-Street improvement bonds. Denomi­
nation $500, except one bond of $788 42. Date Sept. 1
1910. Interest semi-annually at the City Treasurer’s of­
fice. Maturity Sept. 1 1932. Certified check for 5% of
bonds bid for is required.
S p rin g field , L an e C ou n ty, O re. —Bond Sale. —According
to reports, the $50,000 6% improvement bonds offered on
Oct. 10 (V. 91, p. 823), vere a vai ded to Morris Brothers
of Portland at 100.30.
S tea m b oa t S p rin gs, R o u tt C ou n ty, C o lo ,— BondSal.es .—
The German-American Trust Co. of Denver recently pur­
chased $15,000 6% East Lincoln Avenue Improvement
District bonds at par and interest.

D ate O ct. 1 1910. In te re st sem i-annual. M atu rity “ on or before ten
y e a rs."

The $65,000 water-works bonds voted on Sept. 6 (V. 91,
p. 747) have been disposed of to the Steamboat Water Co.
in payment of the plant. The bonds were handled through
the Milner Bank & Trust Co. of Steamboat Springs.
S terlin g, L o g a n C ou n ty, C o lo . —Bond Sale. —On Oct. 10
an issue of $17,700 6% sewer bonds was awarded to the
German-American Trust Co. in Denver at par.
D enom inations $1,000, $500 anti $100. D ate N ov. 1 1910. In te re st
sem i-annual. M atu rity 1930, su b ject to call a t an y tim e.

Summit County (P. O. Akron), Ohio.—Bond Sale.—The
two issues of 5% coupon East Market ltoad improvement
bonds aggregating $19,000 offered on Sept. 2 have been sold.
Tate County (P . O. Senatobia), Mis3.— No Action Yet
Taken.—Up to Nov. 1 no action had yet been taken looking
towards the holding of the proposed road bond election,
mention of which was made in V. 91, p. 747. Our informant
states that he does not think any will be taken in the near
future.
Toledo, Ohio.—Bond Offering.—Proposals will be received
until 7:30 p. m. Dec. 7 bv J. J. Lyn h, City Auditor, for the
$200,000 4% water-works-improvement bonds mentioned in
V. 91, p. 980.
D enom ination $1,000. D ate O ct. I 1910. In te re st sem i-annually a t
th e U. S. M ortgage & T ru st Co. In New Y ork C ity. M atu rity $50,000
yearly on O ct. 1 from 1923 to 1926 inclusive. Certiiled check on a n atio nal
bank In T oledo for 5% of bonds bid for, payable to the C ity A ud to r. Is re­
q u ired . P u rchaser to p ay accrued In terest.

San F ra n cisco , C al. —Bids .—The following bids were
Bonds Authorized.—An ordinance was passed Oct. 24 pro­
received on Oct. 17 for the $1,144,000 bonds disposed of on viding
the issuance of $2,706 71 5% coupon Emerald
that day, as reported in last week's issue, for $1,188,150 Avenuefor
improvement assessment bonds.
(103.S59):
D enom ination $275, except one bond of $231 71. D ate A ug. 8 1910.

H arris T ru st & Savings B ank , C hicago------------------------------------ •a$l,188,150
C o ntinen tal & Com m ercial T ru st & Savings B a n k , C h lo a g o ..
Jam es H . A dam s & Co., Los A ngeles--------------------------------------- *1,045,300
E . II. Hollins & Sons 1
N . VV. H alsey & Co. [C h ic a g o ....................................- ........................ zl, 041,700
A . B. Leach & Co. j
5100,250
P enn M utual Life In su ra n c e -----------------------------------------------------2,000
F ettelberg (for $2,000 5s)---------------------------------------------------------a for “ all or n o n e." x for $1,000,000 5s. 5 for $100,000 4 yis. * F o r
" a ll or none" of $1,000,090 5s.

In te re st sem i-annually a t th e N orthern N ational B ank In T oledo Ma­
tu rity $231 71 M arch 8 1911 and $275 each six m o nth s from S ep t. 8 1911
to S ept. 8 1915 Inclusive.

A u th o rity , C h ap ter 101, Session Law s of 1909. D enom ination $500.
D ate Ju ly 1 1910 In te re st sem i-annually a t th e Ilscal agency In New Y ork
C ity . M atu rity 15 years. B onds a re ex em p t from ta x a tio n . C ertified
check for 3% of bonds bid for Is req uired . No bonded d eb t a t p re se n t.
F lo atin g d e b t. $1,600. A ssessed v alu atio n 1909, $640,000.

C u tter, M ay & C o., Chicago (for 6 s)------------------------------------------- 50,238 00
a Less $1,000 for a tto rn e y ’s fees, b Less $998 for a tto rn e y ’s fees.

Tuckahoe, Westchester County, N. Y.—Bond Sale.—An
issue of $36,000 5-28-year (serial) village-hall bonds was dis­
posed of on Oct. 24 to Spitzer & Co. of New York City at
100.348 for 4.30s. Denomination $1,500. Date Nov. 1
1910. Interest semi-annual.
S e d ro -W o o le y , S k a git C ou n ty, W a s h .— Bond Sale. —On
Twin F alls, Twin F alls C ou n ty, I d a h o . —Bond Sale.—On
Oct. 25 an issue of $40,000 6% sewer bonds was awarded Oct. 24 the three issues of 10-20-year (optional) coupon
to the State of Washington at par.
bonds aggregating $50,000, described in V. 91, p. 1052, were
D enom ination $1,000. D ate Dec. 1 1910. In te re st a n n u al. M atu rity sold to Allerton, Greene & King of Chicago at 101.94 and
D ec. 1 1930, su b ject to call, how ever, before th a t d a te .
interest for 5K>s. The following bids were received:
S co tt C ou n ty (P . O. G e o rg e to w n ), K y .— Bond Offering .—
00
G reene & K ing, Chicago (for 5 H s)-------------------------------- $50,970
50,965 00
h n N uveen & Co., Chicago (for 5 H s)----------- --------------------------- 50,550
It is stated that this county is offering for sale until Dec. 19 JoAII.llerton,
00
C. Speer & Sons Co., Chicago (for 5s), a$50,000; (for 5 H s )-._
$25,000 4J^% road and bridge funding bonds.
Thos. J . Bolger Co., Chicago (for 5s). 6$50,000; (for 5 t*s) $50,515; 51,400 00
D enom ination $500. M atu rity $5,000 yearly from 1923 to 1927 Inclusive.
(for 6s)-------------------------------------- ----------------------------------------------E . II. H ollins & Sons. D enver (for 5 H s), $50,027; (for 6 s)............. 51,025 00
S every, G re e n w o od C ou n ty, K a n .— Bond Offering.—Pro­ Jam
es II. Causey & C o.. D enver (tor 5)4s), a$50,000;(for 6 s)___ 50,352 00
50
O 'C onnor & K ahler, New Y ork (for 6 s)--------------------------------------- 52.693
posals will be received until 12 in. Nov. 22 by C. G. Pierce, Seasongood
00
C incinnati (for 6 s)------------------------------------ 52.290 00
City Clerk, for the $8,000 5% coupon electric-light bonds J . N . W right& <JcMCayer,
o., D enver (for 6s)------------------------------------------- 51,392
00
described in V. 90, p. 1698.
F arson, Son & Co., Chicago (for 6s)------------------------------------------- 51,050
H oehlcr & Cum m ings, T oledo (for 6 s)--------------------------------------- 50,637 50
S h elbyville S ch ool D is trict
C ou n ty, I n d .—

(P . O. Sh elbyville) S ,h elb y

Bond Sale.—On Oct. 10 an issue of $98,000
4% school-building bonds were awarded to J. F. Wild & Co.
o f Indianapolis for $98,500—the price thus being 100.51.
D enom ination $500. D ate N ov. 1 1910. In te re st J a * . 1 a n d Ju ly 1.
M atu rity on Ju ly 1 from 1912 to 1920 Inclusive.
Sheridan C ou n ty (P . O. M cC lu sk y ), N o. D a k .—

Bond Sale.

—On Oct. 31 an issue of $50,000 7% bonds was awarded to
T. L. Birscher at par.
D enom ination $500. D ate J a n . 2 1911. In te re st sem i-annual. M a­
tu rity 1957, su b ject to call a fte r 1927.

Sleepy E ye S ch ool D is trict (P . O. S leepy E y e ), B row n
C ou n ty, M in n .—

Bond Sale.—On Oct. 29 an issue of $12,000
5% refunding bonds was awarded to the State Bank of New
Ulm in New Ulm at 101.50.

D enom ination $1,000. In te re st a n n u a lly on Ju ly 1. M atu rity Ju ly 1
1917.

S p rin g field , G reen C ou n ty, M o . —Bond Election.—Pro­
positions to issue the following bonds, mentioned in V. 91,
p. 1116, will be voted upon on Nov. 21, according to reports:

$100,000 for c o n stru ction, extension a n d rep air of publlo sewers,
i 100,000 for c o n stru ction, extension, re c o n stru c ts* a n d repair of pu blic
K
sew ers.
100.000 for co n stru ction a n d furnishing of a city -h all.
75,000 for the purchase of sites a n d th e erection a n d equipm ent of 2
flre-d fn artm en t sta tio n s an d equ ipm en t of llre-departm ent of
l
th e city .




U n d e rw o o d , P o tta w a ttom ie C ou n ty, I o w a .— Bond Sale .—
The $5,000 water-works-system bonds voted on Sept. 4
(V. 91, p. 747) have been sold.
U n ion (P . O. W e e h a w k e n ), H u d son C ou n ty , N . J. Bond
Sale.— The $80,000 4)^% 6-13-year (serial) gold coupon
or registered school bonds, offered on Oct. 31 (Y . 91, p . 1201)
were awarded to Wm. Rannenberg at par and accrued
interest. There were no other bids.
U n ion C ou n ty (P . O. N ew A lb a n y ), M is s .— No Action Y et
Taken.—No action has yet been taken looking towards the
issuance of the good-road bonds of Districts Nos. 1, 2 and 3,
voted (V. 91, p. 604) on Aug. 20.
U plan d, San B ernardino C ou n ty, C al.— Bond Election Pro­
posed.—This city is considering the holding of an election to
vote on the question of issuing city-hall, library, jail, fire­
house and city-park-site bonds.
V a lle jo , Solano C ou n ty, C a l. —Bond Offering.—Proposals
will be received until 8 p. m. Nov. 16 by W. J. Tormey,
City Clerk, for $90,000 5% gold coupon (with privilege of
registration) water-system-improvement bonds voted on
Sept. 8 (V. 91, p. 901).

A u th o rity A ct 2371, G eneral Law s.
1911. In te re st sem i-annually a t th e
$4,500 yearly on Ja n . 1 from 1912 to
from all taxes. Certified check for
req uired .

D enom ination $500. D a*®
C ity T reasu rer’s office. M atu rity
1931 Inclusive.
$3,000, pay ab le to C ity Clerk, is

X

oy.

5

1910.1

THE CHRONICLE

1281

V and alia, F a y e tte C ou n ty, 111.—Bond Offering.—Pro­
W in n e b a g o C ou n ty (P . O. F o re st C ity ), I o w a .—Bond Sale.
posals will be received until 8 p. m. Nov. 14 by Geo. L —On
Oct. 11 an issue of $47,000 6% bonds was awarded to
Whiteman, City Clerk, for $10,000 6% electric-light and the Investors'
Securities Co. in Des Moines at par.
water-works bonds.
Mot.un r S * ° a S. -000. D ate April 15 1910. In te re st sem l-annua

D enom ination 5500. In te re st sem i-annu al. M atu rity 5500 each six
m o nth s from Ju n e 1 1912 to Dec. 1 1921 Inclusive. C ertllled check for 5%
•f bonds bid for Is required.

M atu rity p a rt yearly1 for 10 years.

W o o d C ou n ty (P . O. G rand R a p id s ), W i s

.—Bond Offering.

1 roposals will be received until 12 m. Nov. 16 by the
County Clerk for the $50,000 4j^% gold coupon insaneBond Election.—An election will be held asylum
bonds mentioned in V. 91, p. 748.
Nov. 8, it is st/ited, to vote on the question of issuing $100,­
$3 ° ? ’ ,„D ate D ec- 1 1910- In te re st sem i-annual. Ma900 school-building bonds.
n y f .
W 1 191R $4,000 A pril 1 1912. $5,000 April 1 1913,
lnd° sVV>nn L 1 n1? ’,!&•« 00 yearly on APr11 1 R om 1015 to 1924 Inclusive
V e n tn or C ity (P . O. A tla n tic C ity ), A tla n tic C ou n ty, N . J. 2■ «/
, C ertllled
checkJ aonn . a1 n1911.
atio n al or S ta te bank for
of bonds hin
bid i!for1 is,1930req uired
. D elivery
—Bonds Voted.—An election held Nov. 1, it is stated, re­ 2 /o nVhAnrii
sulted in favor of a proposition to issue $5,000 5% Ventnor Y o u n g s to w n , O h io.—Bond Offering.—Proposals will be
Avenue
until 2 p. m. Nov. 14 by Win, I. Davies, City Audi­
“against.”widening bonds. The vote was 53 “for” to 2 received
tor, lor the following 5% street-improvement bonds:
55,000 E rie S t. w idening bonds. M atu rity 51.000 yearly on O ct. 1 from
W a p ello C ou n ty (P . O. O ttu m w a ), I o w a .— Bond Election
to
Inclusive.
—According to reports, a proposition to issue $45,000 jail- 3,000 toi®strell1913
et-re Inclusive.
p air bonds. M atu rity 51.000 yearly on O ct. from 1911
construction bonds will be voted upon on Nov. 8.
295 A dam s S t. sew er bonds. M atu rity 559 yearly on O ct. from 1912
to 1916 Inclusive.
_ W a u k e g a n , L a k e C ou n ty, 111.—Bond Sale. —The $85,000
oardm an S t. sew er bonds. M atu rity 586 yearly on O ct. 1 from
5% fire-station bonds voted on Oct. 13 (V. 91, p. 1201) have 430 B1912
to 1916 Inclusive.
been sold to the First National Bank and the Security Savings . . . . onnnalrOwct.d ,A Vefrom- se'v„er*n&
d grading
bonds. M atu rity 5161 yearly
1912 to a n1916
Inclusive.
Bank, both of Waukegan, at par.
’
?912 dtoa 1916VlnclusI°vedS’ M atu rlty
y early on O ct. 1 from
V a n W e rt S ch ool D is trict (P . O. V a n W e r t ), V a n W ert
C ou n ty, O h io.—

1915

1

1

805

1

D enom ination 5500. D ate O ct. 15 1910. In te re st an n u ally oa A ug
M atu rity p a rt yearly on O ct. 15 from 1911 to 1930 Inclusive.

15

W a y land, M id dlesex C ou n ty, M a s s .— Bond Offering._
Proposals were asked for until 7 p. m. yesterday (Nov 4)
by F. E. Yeager, Town Treasurer, for $20,000 4% coupon
school-building bonds.
1

D enom inations: 20 bonds of 51.000 each a n d 12 bonds of 5509 each
B a te N o t . 1 1910. In te re st sem i-annually a t th e F irst N ational B ank In
B oston. M atu rity 51.500 yearly on N ov. 1 from 1911 to 1922 Inclusive
and 51.000 yearly on N ov. 1 from 1923 to 1930 Inclusive. B onds a re tax exem p t a n d will bo certified as to genuineness by th e F irst N ational Bank
In B oston. T heir legality will be ap p ro v ed by R opes G ray & G orham
• f B oston, w hose opinion will be furnished to th e p u rch aser B onds win
kc
reada ty thfore delivery
on N ov.
T he resu lt of this oU crlng& w as n o t anow
know un
to us
hour of going
to 8.press.
W ilm in g to n , N ew H a n over C ou n ty, N o. C ar.— Bonds Not
Yet Sold .—The City Clerk and Treasurer writes us under date

of Oct. 29 that no sale has yet been made of the $100 000
4J^% 40-year coupon water and sewer bonds, olfered with­
out success (V. 91, p. 748) on Sept. 1.

2,265 T hom as S t.^ se w e ^ b o n d s.

*857

M atu rity 5453 yearly on O ct. 1 from

* '175 fro m 'm 2 to T o 1 0 aind usiv endS' M atu r,ty *635 yearly ° n ° r t - 1
860 m ™ lS9 i6S IncTuslvendS- M 8tU rft’ r 5172 yCar* ° n ° c t‘ 1 f‘° 11
1.425 E dgewood St^gra<B a n se w e H n g ^ b o n d s. M aturlt-, 5285 y e a rly
5,735 Caroline S t. paving a n d sew ering bonds. M atu rity 5 1 1 4 7 vc>r
on O ct. 1 from 1912 to 1916 Inclusive.
y *
'
930 Ja
a n S t.Inclusive.
sew er bonds. M atu rity 5186 y early on O ct. 1 f - m 1912
to p 1916
0 9 5 KP^on s t- grading bonds.
M atu rity 5139 yearly on O ct 1 ro
1912 to 1916 Inclusive.
2,650 M cK innle S t. sew er N o. 4 bonds. M atu rity $530 yearly or ct
from 1912 to 1916 Inclusive.
72S PP.cP
t - grading
bonds. M atu rity 5145 yearly on Oct
r-u n
1912 tutor s1916
Inclusive.
p a te N ov 21 1910. In te re st sem i-annually a t th e C ity Trea, <
office. Certllled check on a natio nal ban k for 2 % of am o u n t of each oc
bid on, payable to th e C ity A uditor, Is required. E ach block of non U
th«2nannw
«parAtel.K.Purcha3el; m ust be prepared to ta k e the bonds
IS,0V2 1 . th e m oney to be delivered to one of th e city banks
bonds Vn' ex chan ge°f or °cou po n bonds ' ^ ^
l ° 'SSU<i re*b te re d

NEW LOANS.

NEW LOANS.

INVESTMENTS.

$ 9 4 9 ,0 0 0

$25,000

F. WM. KRAFT

ST A T E OF M A R Y L A N D
TREA SU RY DEPA RTM EN T,
A nnapolis. O ctober 20, 1910.
THE STATE ROADS LOAN

Town of Conrad,

Montana,

BO N D S

N otice is hereb y given th a t th e Tow n of Conrad
will odor for sale to the highest bidder bonds In
th e sum of T w enty -F ive T housand (525,000)
dollars. Said bonds redeem able as follows:
53,000 in live years; 510,OuO la liftcen years; and
th e baiance a t the e x p iratio n of tw e n ty years.
Said bonds to be issued In den om in ations of
51,000 each, no t to exceed 6 per cen t Interest,
payable sem i-annually.
T he Tow n Clerk will receive bids for sam e up to
and Including N O V E M B E R 19, 1910, a t his office
In C onrad, M ontana.
Tho rig h t Is reserved to refuse a n y a n d all bids.
E D W IN A. P E T T IG R E W ,
_ . . _
Tow n Clerk.
D ated , C onrad. T eton C ounty. O ctober 12, 1910

LAWYER

Specializing in Examination of
Municipal and Corpora tion Bonds

T he undersigned, G overnor, C om ptroller and
1312 FIRST NATIONAL BANK BLOQ..
T reasurer of th e S ta te of M aryland. In pursuance
C H IC A G O , I L L .
of a n A ct of th e G eneral A ssem bly of M aryland
of 1908, C h ap ter 141, will receive proposals for
5949,000 Series “ C” of th e said L oan, being
balance unissued of said Series "C ".
"T h a S ta te R oads L oan” will be d a te d F ebruary
1. 1910. bear in terest from A ugust 1, 1910, a t th e
ra te of T hree and O ne-H alf P er C entum per
a n n u m , payable sem i-annu ally on the first d ay
•* F e b ru a ry a n d A ugust In each a n d ev ery year
BONDS
a n d th e principal will bo redeem able a t the pleasure
•f the S ta te a fte r th e first d ay of F e b ru ary In the
year 1920, a n d th e w hole d e b t will be payable on
90
S
T
A
T
E
S T R E E T , B O ST O N
th e first d ay of F eb ru ary . 1925. T he d e b t Is
exem p ted from S ta te , co u n ty a n d m unicipal
30
P
IN
E
S
T
R
EET, N EW YO RK
ta x a tio n an d will be Issued In bond form w ith
oaupons a tta c h e d .
S
T
A
T
E
,
C
IT
Y
&
R A IL R O A D BO N D S
A Q L. fn CZCiSL W riu tot
Said proposals m u st be delivered, sealed, to Safest Investments
/O
O / O Circular.
the T reasurer of the S ta te , a t A nnapolis. ON known. Yielding from
O R B E F O R E 12 O ’CLOCK NO ON O F T H E
T W E N T Y -S E C O N D D AY O F N O V E M B E R ,
1910, a n d m u st be a t a price, accrued Interest to
BANKERS
CHICAQO
date
of delivery In all cases to bo add ed th e reto ,
and have ondorsed on th e back of the envelope
ESTABLISHED 1885
“ P roposals for th e S ta te R oads L o a n ." Each
bid m u st bo accom panied w ith a certllled check
Municipal and
•n
som e responsible han king in stitu tio n for
1* per cent of the am o u n t of such bid, an d the
sam e will bo opened In the office of th e S ta te
Corporation
Bords
F
irst
N
at.
B
ank
Bldg.,
Chicago
T reasurer, In the C ity of A nnapolis, a t 12 o ’clock
noon, N ovem ber 22nd, 1910, In the presence of
SC H O O L,
theOnundersigned.
181 La Sails Street, C h lo a g a
the opening of such proposals so m an y of C O U N T Y A N D M U N IC IP A L BO ND S
said coupon bonds as have been bid for, not
exceeding, how ever, the am o u n t for w hich
proposals arc Invited, m ay be aw arded by said
TRUST COMPANIES.
G overnor, C om ptroller of the T reasu ry and
T reasurer, or a m a jo rity of them , to the hlghesst
responsible bid der or bidders for cash; and when
tw o or m ore bidders have m ade the sam e bid,
w hich bids are the highest, and If the am o u n ts
so bid for by the highest responsible bidders arc In
excess of the whole am o u n t of said bonds so
olfered for sale, then such bonds m ay be aw arded
(N E T H E R L A N D S A D M IN IS T R A T IO N <fe T R U S T C O M P A N Y )
to such highest responsible bidders bidding the
215 Slngcl - AMSTERDAM. (Holland.)
sam e price In the prop ortion w hich th e am o u n t
each lias bid for bears to the whole a m o u n t of
II. M K IN E SZ , P re sid e n t
said bonds so olfered for sale.
, 51.000 an d su\V!U
In then asdenom
ination
Board of Director*!
•f
b je c t to,SSUS<1
reg istratio
to principal,
H. WALTER.
L. D..
Chair
Chairman.
an d will be deliverable D ecem ber 1st. 1910, a t
de Kock
A Uyt den Boraard.
th
e
office
of
th
e
S
ta
te
T
reasurer,
In
the
C
Itv
of
A nnapolis.
’
A.
A.
H.
BOISSEVAIN,
Ph.
MEES.
T he rig h t U reserved to reject a n y a n d all bids.
of Swiss Bankvereln
and
R. Mees *> Zoonea.
A U STIN L . C R O T H E R S ,
ofDirector
Lnbouchere.Oyens
A Ce’» Bank.
J.
A.
DUYNSTEE.
H
.
M
EINESZ.
W. B. C L A G E TT ,
G overnor.
T elders & Co.
President.
C om ptroller of th e T reasury
F. Th.Banker.
EVERARD.
Q. HLabouohere,
. DE MAREZ OYENS.
M U R R A Y V A N D IV E R ,
Oyena A Co’i Bank.
T reasu rer.
P. M.Arnold
J. QILISSEN
A. L. a. H. PICHOT*
Glltssen.
Weaterwoudt A Co.

BLODGET & CO.

MUNICIPAL BONDS
U L E N & CO.

McCOY & COMPANY

H. C. SPEER & SONS CO.

Nederlandsch Administratie- & Trustkantoor

R. T. Wilson & Co.
33 WALL STREET
NEW YORK




AUd.JanKALFF,
Kaltf A Co

W. M.
SCHEURLEER.
Scheurleer
A Zoonen

Acts as Executor, Admin strator, Trustee, Quardian,
Acts as Trustee of Corporation Mortgages.

A g e n t, e tc .

1282

THE CHRONICLE

Canada, its Provinces and Municipalities.

C a stor, A lb e r t a . —Debenture Offering.—Further details
are at hand relative to the offering on Dec. 1 of the $7,500
town-hall-building and $5,000 funding 5% gold coupon
debentures mentioned in V. 91, p. 1202. Proposals for these
debentures will be received until 6 p. m. on that day by
Geo.
Auxier, Secretary-Treasurer.
D ate S e p t. 15 1910. T he Issues are rep ay ab le In 20 y early Installm ents

of princip al a n d Interest a t th e M erchants’ B ank of C anada In C astor. No
d eb en tu re d e b t a t present. F lo atin g d e b t, $5,000. L ast revised assess­
m e n t. $440,000.

C h illiw a ck , B . C . —Debentures Not Sold. —No award was
made on Oct. 1 of the three issues of 5% debentures aggre­
gating $35,000, described in V. 91, p. 670.
C h ippew a, O n t. —Debentures Defeated.—The election held
Oct. 25 resulted in the defeat of the proposition to issue the
$30,000 4 Yi% 30-year water-works-system debentures men­
tioned in V. 91, p. 749. The vote was 55 “for" to 67 “against.’
D ia m o n d C ity , A lb e rta . —Debenture Offering.—Proposals
will be received, according to reports, for $17,000 6% 20-year
debentures. J. J. McDermott is Secretary-Treasurer.
E lgin C ou n ty (P. O. S t. T h o m a s ), O n t. —Debenture Offer­
ing.—Proposals will be received, it is stated, for $10,000
4 p2 % debentures, due part yearly for ten years.
E ste v a n , S a sk . —Debenture Offering.—Proposals will be
received until 8 p. m. Nov. 8 by L. A. Duncan, SecretaryTreasurer, for $25,000 electric-light and power-plant and
$5,000 skating-rink 5% debentures. The loans are repay­
able in annual installments of principal and interest, the
$25,000 issue in 30 installments and the $5,000 issue in 15
installments.
G od erich , O nt. —Debenture Sale. —Baillie, Wood & Croft
are reported as having purchased $15,000 5% debentures
and $5,078 4 y^% debentures. Maturity part of each issue
yearly for twenty years.
G u elph , O n t. — Debenture Offering.—Proposals_ will be
received until 1 p. m. Nov. 7 by T. J. Moore, City Clerk,
for $2,000 40-year park, $7,600 30-year public-schools,
$1,500 30-year Collegiate Institute and $4,137 46 20-year
•sidewalk 4 debentures. Interest June 30 and Dec. 31.

G u ern sey, S a sk . —Loan Authorized.—The Council has
been authorized, according to reports, to borrow $3,000 for
permanent improvements.
In d ia n H ea d , S a sk .— Debenture Sale— It is reported that
$3,999 6% debentures were recently awarded to the Ontario
Securities Co. of Toronto. Maturity part yearly from six
to thirty-five years inclusive.
Jack P in e V a lley S ch ool D istrict N o. 2603 (P . O. Shell
B ro o k ), S a sk . —Debenture Sale.—An issue of $1,000 5M%
school-building debentures was awarded on Sept. 9 to Nay &
James of Regina at 100.30. Date Sept. 9 1910. Interest
November. Maturity Nov. 9 1920.
Jasm an S ch ool D istrict N o. 2236 (P . O. B u rd e tt), A lb e rta .
— Debenture Sale.- An issue of $1,500 6.^% debentures has
been sold to the Bank of British North America in Burdett.
K ep p el T o w n s h ip , O n t. —Debenture Sale. —During the
month of October, $2,500 5% debentures were sold to G. A.
Stimson & Co. of Toronto. Maturity part yearly for fifteen
years.
L eslie, S a sk . —Debenture Sale. —On Oct. 25 the $2,500 6%
12-year debentures mentioned in V. 91, p. 1054, were
awarded to Nay & James of Regina at 94.05.
N ew H a m b u rg , O nt .— Description of Debentures.— The
$8,000 electric-light-plant debentures awarded last month to
G. A. Stimson & Co. of Toronto (V. 91. p. 1055) carry interest
at the rate of 5% and mature part yearly for thirty years.
O rangeville, O n t. —Debenture Sale. —On Nov. 1 the $7,500
4^% high-school-improvement debentures mentioned in
V. 91 p. 1203, were purchased by the Dominion Securities
Corporation, Ltd., of Toronto at 98.826 and accrued interest,
with the provision thatj| they be guaranteed by Duffer
County. A list of the bids received follows: £$0,992 00

D om inion S ecurities C orporation, L td ., T o ro n to ._ .a $ 7 .412 00

£7,015
£7,032
£7,077
£7,033
£7,080
£7,085
£7,013

22
Aemlllus Jarvis & Co., Toronto------------------------C.
H . Burgess & Co., Toronto-------------------------------- 22
O ntario Securities C orporation, L td ., T o ro n to ------<*7,337 22
B ren t, N oxon
H anson B ros.,
G. A. Stim son
W ood, G undy

& Co.. T o ro n to --------------------------------“ Z’’,2 2 22
M o n tre a l.. ----------------------------------no
& Co., T o ro n to --------------------------------“I ’*™ 22
& Co.. T o ro n to ...........- --------------------- a7,^78

00
00
00
00
00
00
00

IN V EST M EN T S.

M ISC E L L A N E O U S .

MELLON NATIONAL BANK
PITTSBURGH, PA.
As your reserve depositary, this
bank offers you perfect service and
liberal interest on your balances.
$ 7 ,0 0 0 ,0 0 0
CAPITAL AND SURPLUS,

The
Trust Company of America
37-43 W A L L S T R E E T , N E W Y O R K .
L O N D O N O F F IC E i
C O L O N IA L B R A N C H i

222 Broadway, New York.

[VOL. L X X X X I .

95 Gresham St.

Reynolds, Watson & Co.
Municipal and Corporation Bonds

We offer a very exceptional
D R A IN A G E BON D
g NETT1NQ

6%
CH ICAG O

400 T h e R ook ery

Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS

F IR S T N A T IO N A L B A N K B U IL D IN G
CH ICAG O

F O K H E S T

&

C O ,

BANKERS

C A P IT A L AN D S U R P L U S $8,000,000

431 Chestnut St.. PH1LADBLPHIA. PA.

Invites accounts of individuals firms and corporations.
Pays interest on daily balances.
Executes trusts of every description.

Municipal and
Corporation Bonds

HODENPYL, WALBRISSE & CO.
7 W a ll St., New Y o rk

S llm o t s S u r e t y C o m p a n y

Railroad, Street Ry., Gas & Elec. Light

H o m e O f f i c e , 206 L a S a l l e S t r e e t
C H IC A G O

S E C U R IT IE S

WRITES ALL CLASSES SURETY BONDS
Court— Fidelity—Contract—Miscellaneous

M UN ICIPA L AND RAILROAD

The motto of the Illinois Surety Company Is “Prom pt Service”
both In the handling of Its business and the adjustm ent of its losses




BON D S

LIST ON APPLICATION

S E A S 0 N G 0 0 D & M A YE R

Mercantile Library Budding
C IN C IN N A T I

NOV. 5 1910.1

THE CHRONICLE

W . A . M asK enzle & Co., T o ro n to __________________ a7,265 00 #7,020 00
C anadian D ebentures C orporation, L td ., T o ro n to .. a7,256 00 #7,006 00
a D ebentnres to be gu aran teed by D ufferi.i C o unty . . # N ot to be g u ar­
an teed by D uflerln C ounty.
In te re st an n u a l. M atu rity p a rt yearly for 30 years. D ate N ov. 7 1910.
T he d eb en tu res will be delivered In Dec. 1910.

Penticton, B. C.—Debenture Sale.—The $100,000 irrigation
system, debentures mentioned in V. 91, p. G71, have been
sold to the Southern Okanagan Land Co., Ltd., of Penticton
at par.
Peterborough, Ont.—Loan Authorized.—It is reported that
a by-law has been passed providing for a loan of $12,500 for
the construction and equipment of an isolation hospital.
Prince Rupert, B. C.--Debentures Proposed.—It is re­
ported that this place intends to issue $540,000 1}4% 20-year
improvement debentures.
Provost, Alberta.—Debenture Sale.— An issue of $4,000 6%
debentures was recently disposed of to C. H. Burgess & Co.
•f Toronto. Maturity part yearly for ten years.
Rosetown, Sask.—Debentures Proposed.—Papers report
that $14,000 debentures will be issued for school purposes.
St. Michaels, Alberta.—Debenture Sale.—An issue of
$6,000 6% debentures was disposed of last month to C. H.
Burgess & Co. of Toronto. Maturity part yearly for twenty
years.
St. Stephens, N. B.—Debenture Offering.—Proposals will
be received until 3 p. m. Nov. 30 by J. Vroom, Town Clerk,
for
the following 4 % debentures:
$25,000 w ater d eb en tures. D enom ination $500. D ate Ju ly 1 1910

1283

power and light debentures mentioned in V 91, p. 750 He
fur her -fates that it will probably be two months before
the|amount of debentures to be issued has been decided upon.
Trail, B. C.— Debenture Offering.—Proposals will be red X entnrel dN°V; 2 *’ ifc H stated’ for $15>000 6% water-works
City CleS d 111
7 yearS‘ W- E‘ B- Monypenny is
Victoria, B C.— Debenture Offering —Renorts state that
UntU N°V- H ,or

Neillie, Clerk and Treasurer, for $10,000 4% debentures to
be issued Dec. 20 1910. Maturity part yearly for 20 years.
Vonda Sask —Debentures Not to be Offered at Present.—
««Cnrn^fly'TreauUr]
er, Writes usrecently
under date
of Oct. (V.
24 that
the $$,000
flour-mill debentures
authorized
91
p. 671) will not be offered for sale for some time.
’
Wawota, Sask.— Loan Proposed.—Reports state that
this village will borrow $1,000 for permanent improvements.
Westmount, Q\ie>.— Debentures Purchased by the Sinkinq
rund. It is stated that the Sinking Fund Commissioners
purchased on Nov 1 at 91.46 $26,000 of the city’s outstancL
ys
3M% in' erest and maWinnipeg, Man.— Loan Election.—According to reports
by-laws providing for the following loans will be submitted
M atu rity 36 years.
15,700 "N ew C onsolidated D e b t" d eb en tures. D enom inations 20 deb en­ to a vote of the ratepayers at the next election: $400,000 for
tu res of $500 each an d 57 d eb en tures of $100 each. D ate N ov 1 hospitals, $2,000,000 for a city-hall, $10,000,000 for water­
1910. M atu rity 30 years.
works and $150,000 for parks.
In te re st sem i-annually a t S t. S tephen.
Stratford, Ont.—Debenture Sale.—The $7,000 4 y2% Vork Township (P. O. Toronto), Ont .-Debenture S a le .10-year water-works debentures offered on Oct. 19 (V. 91, Ihe following 4}4% debentures were sold on Oct. 17 to the
p. 1055) have been awarded, according to reports, to the Ontario
Securities Co., Ltd., of Toronto:
Canadian Debentures Corporation, Ltd., of Toronto.
$ 4 ,6 7 1 6 8 lo c a l-im p r o v e m e n t d e b e n tu r e s d a te d A u g . 2 1 9 1 0 a n d d u e p a r t
to 1 9 2 0 ln c lu s lv e . T h c ^ K c S r F u e s
• Tilsonburg, Ont.—No Action Yet Taken.— The Town Clerk <1 non nn y e a r ly o n A uwg l t2h ofr“ot ms u 1911
s (V . 9 1 . p . 5 4 5 ) la s t A u g u s t.
writes us under date of Oct. 29 that no action has yet been • ■ “ S S ? 2 ^ uS l 1d f olo 1V c„c eus?„°ol
!u05 l;,’ 10 “ “ <■ “ ■ ” » ^
»
taken looking towards the issuance of the hydro-electric I n te r e s t a n n u a l.
‘
ACCOUNTANTS.

LYBRAND,
R O S S B R O S 4.
M ONTGOMERY

M ISC E L L A N E O U S .

OFFICE OF THE

ATLANTIC MUTUAL INSURANCE COMPANY.
xouh
t
on the 31 st of December, 1909.

Certified Public A c c o u n ta n ts
(P en n sy lv a n ia ;

NEW YORK,
165 Broadway
PHILADELPHIA, Land Title Bldg
PITTSBURGH,
Union Bank Bldg
CHICAGO, First National Bank Bldg/
J A M E S P A R K & CO.
C E R T IF IE D P U B L IC A CCO U N TA N TS

N ew Y o rk , C h ica go, C in cinn ati, and
L o n d o n , E n gla n d .

A U D IT O R S F O R F IN A N C IA L IN ST T T 1
T IO N S , IN D U S T R IA L AND
M IN IN G C O M PA N IES
Investig atio n s. F inancial S tatem en ts,
Periodical Audit* and A eeonntlni
M ISC E L L A N E O U S .

THE AMERICAN MFG. CO.
MANILA, SISAL AND JUTE

CORDAGE
65 Wall Street,

" S U S S at

.

w

» ---------------»

T otal M arine P rem ium s________________
■ $4,477,103 95
P rem ium s m arked off from 1 s t Ja n u a ry , 1909, to 31st D ecem ber, 1909___________
.$3,791,557 05
st received
th e y e a r.....................
S322 0 4 6 464 «
RIneten re
t less
T axes andudrinE gxpen
..............*322.046
ses.............
145;
679 82 $467,726 28
Losses paid d u rin g the y e a r w hich w ere estim ated In 1908
= = = = =
Losses occurred, estim ated and paid In 1909................ZZZZZZZuSW ft® 56 $1,978.837 75
Less Salvages_______________
t ? 4 0 « n 1 ny
R e-Insurances.................. ...................235,520 48
485.411 55
$1,493,426 20
R e tu rn s of P rem ium s___________________
$60,285 14
n ew sp ap era.ad vertlsem en tsT eto” ” : ™ : ” . ^ ™ ^ : ™ ^ . ^ ™
$356.913 94
A -S S E T S .
L IA B IL IT IE S .
U nited S tates & S ta te of N ew Y ork
E stim ated Losses an d Losses U n­
Sc utock,
C
ity
,
B
ank
settled . . .
$2,303,297 00
rltle s __________ an d o th e r SenA9 nn
P rem ium s on U nterm inated R isk s.
6 8 5 . 5 4 6 90
of P rofits an d In te re st
Real E state cor. I'l.^'L^sATrustCos.
W all & W llllam Sts..' l.’oOO.OOO 00 C ertlllcates
...............................
263.468
95
U
npaid
& E xchange
04
R eturn P rem ium s U n p aid ............. ..
120.569 4 2
O ther
Real E staP lace.$4,299,420
te &
C ertificates of P rofits O rdered R e­
claim s due the com ­
deem ed. W ithheld for U npaid
pany
75,000 0 0 4.374.426 04
P r e m iu m s .............................................
22.363 4 9
P rem ium notes and Bills R eceivable 1,213,069 6 8 C ertificates of P rofits O utstan dG&sh n l he han ds of E uropean
R eal E sta te R eserve F u n d i H Z ’ "
*‘37o!ooo 00
H ankers to pay losses un d er poll~ c!®8.
in foreign co u n tries.
239,948 0 4
c a s h In B a n k ..............................................
633,405 13
A ggregating........................................... $12,021,890 89
A ggregating....................... ...................$11,260,125 76

New York

WEBB & CO.

By order of the Board.

F R A N C IS M. BACON,
W A LD R O N P . B R O W N .
V ER N O N H . B R O W N .
JO H N N. B E A C H .
74 BROADWAY
NEW YOR> JO
H N C L A F L IN ,
G E O R G E C. C L A R K ,
CLEVELAND H . DODGE,
WANTED
C O R N E L IU S E L D E R T .
R IC H A R D H . E W A R T .
C H R O N IC L E IS S U E S
P H IL I P A. S. F R A N K L IN .
H
E R B E R T L . G R IG G S,
Jan. 8 and 29, 1910
IN V E S T M E N T S E C U R IT IE S

Will pay 20 cents a copy.

C om m ercial & F in ancial Chronicle
U 8 F r o n t S t., N ew Y o rk




h

O. STANTON FLOYD-JONES. Secretary

TR U STE E S.
C L E M E N T A . G RISCO M .
D A LL A S B. P R A T T .
A N SON W . H A R D .
G E O R G E W . Q U IN T A R D .
L E W IS CASS L E D Y A R D .
A. A. RA V EN ,
C H A R L E S D . L E V E R IC H
JO H N J . R IK E R ,
L E A N D E R N . L O V E LL .
D O U G LA S R O B IN S O N ,
G E O R G E H . MACY,
G U STA V H . SC H W A B .
C H A R L E S H . M A R SH A L L
W IL L IA M SL O A N E .
N IC H O L A S F . PA L M E R .
ISAAC S T E R N ,
H E N R Y P A R IS H .
*
W IL L IA M A . S T R E E T ,
ADOLF PA V EN STED T.
G
EORGE E. T U R N U R E .
C H A R L E S M. P R A T T ,
A . A . R A V E N . President.
C O R N E L IU S E L D E R T . Vice-President.
SA N FO R D E . C O BB. 2d V ic e -P re se n t
C H A R L E S E . F A Y . 3d V iZ -P resident
JO H N H . JO N E S S T E W A R T .4t*V toe-F re«4en t.

THE CHRONICLE

1284

mniei m s Trasl company or jew M ,
Q v n & t

4S a n d

(fttu m p K n lz * .

Chartered 1353

47 W A L L S T R E E T

$ 2 ,0 0 0 ,0 0 0 .0 0

CAPITAL,
SURPLUS AND UNDIVIDED PROFITS

$13,856,570.83

This Company acta aa Executor, Administrator, Guardian, Trustee, Court Depositary and In
ether recognized trust capacities.
It holds,
allows manages
Interest atandcurrent
on deposits.
. property, .real
. . i or
It
Investsrates
money,
securities and other
or D«rsonal
personal, tor
lor estates
ssrporatlons and Individuals.
,

[VOL. LXXXXI.
g v w s t © jc rm p a n ie * .

Manhattan
Trust
Company

E D W A R D W . S H E L D O N , P resid en t

S E S iiS W S M fc -* * ..

W. Bayard Cutting.
William Rockefeller,
Alexander E. Orr,
WUUam H. Kaey Jr..
WUllam D. Sloane,

TR VO TERS.

A STEWART, C h a ir m a n o t th e d o a r a .
Gustav H."Schwab, ' ^ w l. Cass Ledyaxd,
P ranir L T m ^n.
L ym an J . G&gre.
JamesClatlln.
Stillman
S5y
c „
John
Edward nW. Sheldon.
John J. Phelps.
Chauncey Keep
jottn

F id e l it y T

rust

C

George L. Rives,
Arthur O. James,
William M. Kingsley.
WIlUam Stewart Tod.
Ogden Mills.
Egerton L. Wlnthrop__

om pany

Temporary Offices

U 3 BROADWAY
WALL STREET
CORNER NASSAU

NEWARK, N. J.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000

Acts as Executor, Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Seal and Personal Estates. Guarantees Titles of
Real Estate throughout New Jersey.
General Banking and Savings Departments. Bond Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.

CEN TR AL TRUST COM PANY
of NEW YORK

54 Wall Street

U N IT E D STATES
MORTGAGE & TRUST
COMPANY
NEW YORK

CAPITAL,

SU R PLU S,

$ 2 , 000 , 000.00

$4,000,000.00

Invites Personal and Business
Accounts. Acts as Trustee, Ex­
ecutor, Administrator, Guard­
ian and in all Fiduciary
Capacities. Certifies Muni­
cipal and Corporation Bonds.

Capital and Surplus, $18,000,000
(of which $1 7,000,00 0 has been earned)

65 Cedar St.
B’way 4t 73rd St.
135th Sf. «c 8th Are.

Authorized to act as 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.

Industrial Trust Company
Providence* R. I.

SURPLUS................................................. 3.000.000

A cts as Executor, Guardian, Trustee, Administrator and In all Fiduciary Capacities
o n behalf of Individuals, Institutions or Corporations.

OFFICERS.
Gyrus P. Drown, 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 Peoper, Asst.Traas.
Frederick B‘. WUcox, Auditor
BOARD OF DIRECTORS
Herbert N. Fenner
Samuel P. Colt
J. Milton Payne
Olney T. Inman
Eben N. Littlefield
WUUam R. Dupee
Otis Everett
RIohard A. Robertson C.
Prescott Knight
Joshua M. Addeman
Jesse H. Metcalf
James M. Scott
John J. Watson Jr.
William H. Perry
Charles H. AUen
Arthur L. Kelley
John B. Branch
H. Martin Brown
WUUam P. Chapin
George F. Baker
Angus MoLcod
George M. Thornton
Ezra Dixon
Cyrus P. Brown
Howard O. Sturgis
Chas. O. Harrington
Edward D. Pearce
Louis H. Comstock
Englehart C. Ostby

Illiiim sT ru st & Sari n g s B a n k

Adrian H. Muller & Son,

Union Trust Company of NewYork
CHARTERED 1864

MAIN OFFICE: 80 BROADWAY.

Uptow* Office : 425 Fifth Avenue, corner 3Sth Street,'
W ith Modern Safe Deposit Vaults

Capital $1,000,000

Surplus
_____

(earned) $7,737,000

A L L O W S IN T E R E S T ON D E P O S IT S .

CH IC A G O

Capital and Surplus
$13,600,000

Pays Interest on Time Deposits, Current and Reserve Accounts.
Deals In Investment Securities and Foreign Exchange.
Transacts a General Trust Business.



C O R R E S P O N D E N C E IN V IT E D .

AUCTIONEERS.

R egular W eekly S ales
OF

STOCKS and BONDS
EVERY

W EDNESDAY

Office, No. 65 WILLIAM STREET.

Corner Pine Street.